# NYSE Dow Jones finished today at:



## bigdog

The NYSE and NYSE Arca are Closed on Monday, January 15 for Martin Luther King Jr. Day


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## theasxgorilla

*Re: NYSE Dow Jones Closed Today at*

Ah?  Thanks for that.  I looked at the chart and went, 'another UP day!'.  Just one after another   Ooops, same day as yesterday.  I get it now.


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## bigdog

*Re: NYSE Dow Jones Closed Today at*

The NYSE closed on Tuesday January 16 at: 

The Dow rose 26.51, or 0.21 percent, to 12,582.59. The index reached a new trading high of 12,585.08 earlier in the session.

Broader stock indicators were mixed. The Standard & Poor's 500 index was up 1.17, or 0.08 percent, at 1,431.90, and the Nasdaq composite index fell 5.04, or 0.20 percent, to 2,497.78.


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## theasxgorilla

*Re: NYSE Dow Jones Closed Today at*

As of last night and yesterday my analysis on SPX and XAO is invalidated.  They're both still going up, thats all I know.  Fortunately I'm _long_ everything!


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## bigdog

*Re: NYSE Dow Jones Closed Today at*

The NYSE closed *down* on Wednesday January 17 at: 


Symbol Last Change 
Dow 12,577.15  5.44 (0.04%)   
Nasdaq 2,479.42  18.36 (0.74%)  
S&P 500 1,430.62  1.28 (0.09%) 
10-Yr Bond 4.7870%   0.0360 
NYSE Volume 2,592,569,000 
Nasdaq Volume 2,240,136,000


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## bigdog

*Re: NYSE Dow Jones Closed Today at*

The NYSE closed down on Thursday January 18 at: 


Symbol --------Last Change 
Dow 12,567.93  9.22 (0.07%) 
Nasdaq 2,443.21  36.21 (1.46%)  
S&P 500 1,426.37  4.25 (0.30%) 
10-Yr Bond 4.7510%   0.0360  
NYSE Volume 2,822,434,000 
Nasdaq Volume 2,538,293,000


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## bigdog

*Re: NYSE Dow Jones Closed Today at*

The NYSE closed down on Friday January 19 at: 


Symbol -----Last Change 
DOW JONES 12,565.53  0.02%  
Nasdaq 2,451.31  +8.10 (0.33%) 
S&P 500 1,430.50  +4.13 (0.29%) 
NYSE Volume 2,780,647,000 
Nasdaq Volume 2,092,475,000 
30-Yr Bond 4.86%   +0.01


Sunday Age Jan 21
http://www.theage.com.au/news/busin...ouve-got-energy/2007/01/20/1169096027666.html

Richard Webb
January 21, 2007

SHARES are heading to record levels tomorrow led by the mining and energy giants, market watchers say.

A jump in the prices for gold and oil in New York on Friday night and generally higher base metal prices should see the ASX200 open up to 30 points higher, edging over the 5700-point level, they say.

With private equity-fuelled takeover rumours continuing to circle some of Australia's biggest companies ”” the latest talk is that sugar giant CSR could fall to the stampeding horde ”” the broader market will also receive support, says MFS chief investment officer Guy Hutchings.

But tomorrow's expected 20- to 30-point gain locally will be despite a flat lead from Wall Street on Friday night, when disappointing profit news from computer giant IBM offset gains for stocks in the US resource and energy sectors.

AMP Capital Investors chief investment officer Shane Oliver said IBM dragged down the Dow on Friday night ”” the Dow closed 2.4 points lower at 12,565.5 ”” when the broader-based S&P500 index rose 0.4 per cent after a positive reading on US consumer sentiment.

"But the US commodity and oil stocks were all up about 2 per cent, so I think we'll have a pretty good day on Monday," Mr Oliver said.


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## bigdog

*Re: NYSE Dow Jones Closed Today at*

The NYSE closed down on Monday January 22 at: 

Symbol Last Change 
Dow 12,477.16  -88.37 (0.70%)  
Nasdaq 2,431.07  -20.24 (0.83%)  
S&P 500 1,422.95  -7.55 (0.53%) 
10-Yr Bond 4.7590%   -0.0140  
NYSE Volume 2,526,689,000 
Nasdaq Volume 1,958,527,000

Yahoo quote:
Stocks Fall on Tech Worries
AP - Wall Street stumbled lower Monday as growing concerns over technology companies led jittery investors to pull money out of the market ahead of this week's earnings reports.

Market Update 
http://finance.yahoo.com/marketupdate/overview 

4:20 pm NY US time : Stocks stumbled out of the gate Monday and never recovered as ongoing concerns that companies will not live up to the market's lofty earnings expectations kicked off a new week on a negative note.

Worries about disappointing guidance kept Technology in focus again. Microsoft (MSFT 30.72 -0.39), which hit a multi-year high last week, gave back some of those gains as investors grew concerned about its Q2 report this Thursday. 

As a reminder, the Tech sector tumbled 3.4% last week, contributing heavily to the Nasdaq's worst weekly performance (-2.1%) since last July, after reports from Apple (AAPL 86.79 -1.71) and Intel (INTC 20.79 -0.03) failed to impress investors. With most of the bad news already priced into shares of Texas Instruments (TXN 28.67 +0.28), which warned in early December, the stock was one of the sector's few bright spots today heading into its Q4 report after the close.

Industrials was the day's biggest disappointment among the 10 sectors that closed lower. An analyst downgrade on Boeing (BA 85.57 -3.06), the Dow's leading laggard (-3.5%), left Aerospace & Defense (-1.7%) as one of today's worst performing S&P industry groups. Construction & Farming (-2.1%) fared even worse as Caterpillar (CAT 58.21 -1.16) dropped 2.0% to a new 52-week low.

Fellow Dow component Pfizer (PFE 26.98 -0.24), which was up 10% after bottoming out in early December, topped Wall Street expectations in its fourth quarter. However, not even plans to cut costs by $2 bln annually (i.e. slashing 10% of workforce, closing plants) were enough to offset a Q4 report that showed Lipitor sales missed 2006 targets while Zoloft sales plunged 79%. Pfizer's nearly 1.0% decline was a big reason why investors


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## bigdog

*Re: NYSE Dow Jones Closed Today at*

The NYSE closed UP on Tuesday January 23 at: 

Symbol Last Change 
Dow 12,533.80  +56.64 (0.45%) 
Nasdaq 2,431.41  +0.34 (0.01%) 
S&P 500 1,427.99  +5.04 (0.35%)  
10-Yr Bond 4.8040%   0.0450  
NYSE Volume 2,900,410,000 
Nasdaq Volume 2,064,482,000 

Market Update
http://finance.yahoo.com/marketupdate/overview

NY time 4:20 pm : Buyers returned Tuesday following Monday's broad-based decline amid some renewed optimism about the overall earnings picture for Q4. However, market gains were modest as a late-day surge in oil prices took some steam out of intraday recovery efforts, especially on the tech-heavy Nasdaq.

With earnings season in full swing and this week marking the biggest batch of reports thus far, Tuesday was no exception. Of the three Dow components reporting today, United Technologies (UTX 66.14 +2.05) was the best performer on the blue-chip index (+3.2%) after it posted a 38% jump in Q4 profits.

The Industrials sector got an additional boost from Railroads (+3.7%), even in the face of the 4.7% surge in oil. Burlington Northern Santa Fe (BNI 80.15 +3.02) and CSX Corp (CSX 36.70 +1.60) soared 3.9% and 4.6%, respectively, after posting solid quarterly results and providing optimistic outlooks.

With regard to oil prices, crude for March delivery closed just above $55/bbl, recording its largest one-day increase since September 2005 following reports that President Bush will propose doubling the size of the Strategic Petroleum Reserve. While oil's surge helped Energy more than halve its year-to-date 4.6% decline, the sector's 2.4% advance was also attributed to the commodity's potential to crimp spending exacerbating the continued rotation out of Technology.

Of the other five sectors closing in positive territory, Materials was also up more than 1.0% as weakness in the greenback made dollar-denominated commodity stocks more attractive.

However, even though only three sectors closed lower, the losing trio of Financials, Health Care and Technology are also the most influential of the 10 economic sectors. Since they collectively account


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## bigdog

*Re: NYSE Dow Jones Closed Today at*

The NYSE closed UP +87 points  on Wednesday January 24 at: 

Symbol Last Change 
Dow 12,621.77  +87.97 (0.70%) 
Nasdaq 2,466.28  +34.87 (1.43%) 
S&P 500 1,440.13  +12.14 (0.85%) 
10-Yr Bond 4.8100%   +0.0060  
NYSE Volume 2,783,184,000 
Nasdaq Volume 2,297,470,000

Market Update  
http://finance.yahoo.com/marketupdate/overview
NY time 4:20 pm : 
Stocks rallied Wednesday as renewed optimism on the earnings front, especially from some notable tech names, sparked a wave of buying interest that closed all three major averages sharply higher. The Dow finished in record territory, the S&P 500 hit a fresh six-year high and the Nasdaq closed up 1.4%, extending its year-to-date leading advance to more than 2%.
With nothing of note on the economic calendar, earnings were again at the forefront of investors' minds Wednesday. More notable than the majority of the reports either meeting or exceeding Wall Street expectations, though, was a batch of upbeat guidance that suggested growth prospects might not be that bad after all.

Bargain hunters hungry for even the slightest bit of clarity to suggest recent market weakness may be overdone came primarily from Technology, which is also where the cloud of uncertainty has been most prevalent. As evidenced by the Nasdaq outpacing its blue-chip counterparts to the upside, Yahoo! (YHOO 28.94 +1.98) and Sun Microsystems (SUNW 6.15 +0.49) were among the biggest standouts from a news standpoint. Even though neither is the tech bellwether they used to be, both companies followed up better than expected earnings reports with some additional upbeat developments.

Yahoo closed up 7.3% as investors applauded news that an earlier than anticipated roll-out of its Panama ad search technology implies growth acceleration beginning in Q2. Sun soared nearly 9% after announcing a $700 mln private placement transaction with KKR Private Equity Investors. Other tech stocks topping estimates and lending some reassurance about a sector plagued of late by a slew of reports taht failed to impress investors were Corning (GLW 20.92 +2.08), Citrix Systems


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## bigdog

*Re: NYSE Dow Jones Closed Today at*

The NYSE DOW closed DOWN -119 points  on Thursday January 25 at: 

Symbol Last ----Change 
Dow 12,502.56  -119.21 (0.94%)  
Nasdaq 2,434.24  -32.04 (1.30%)  
S&P 500 1,423.90  -16.23 (1.13%)  
10-Yr Bond 4.87%   +0.06  
NYSE Volume 3,044,544,000 
Nasdaq Volume 2,279,145,000

Market Update  
http://finance.yahoo.com/marketupdate/overview
NY time 4:20 pm : 
Evidently, the absence of potentially troubling economic data a day earlier did help investors place more of an emphasis on the "good" news embedded in earnings reports because today's mixed earnings news and economic data dashing hopes of a Fed rate cut anytime soon took a toll on sentiment.

The major averages opened mixed as investors weighed the sustainability of yesterday's impressive rally against another round of better than expected results. Dow component AT&T (T 36.84 0.21) was the day's biggest name, opening at a multi-year high (+2.6%) after beating expectations and guiding for double-digit EPS growth this year and next. Nonetheless, blue-chip buyers began showing some reserve early on, especially after the Dow hit record levels and the S&P 500 hit six-year highs Wednesday.

The Nasdaq wasn't faring much better early on as it was clinging to a small gain following unexpectedly strong results from tech companies like eBay (EBAY 33.65 +3.65) and Qualcomm (QCOM 38.16 -0.46). eBay, a recommended holding in the Briefing.com Active Portfolio, was up as much as 18% last night following its encouraging Q4 report and still closed up 8%. Be that as it may, a two-day hiatus from any economic reports also left investors anxiously waiting to see if the housing market was still showing signs of stabilization.

Then, at 10:00 ET, existing home sales for December checked in shy of economists' forecasts and, for all of 2006, fell 8.4% -- the largest annual decline in 17 years. While that was responsible for a knee-jerk reaction in stocks that exacerbated the temptation to take some of yesterday's gains off the table, the worst was yet to come.

Fed funds futures, which were pricing in a nearly 50% rate cut before June


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## Rob_ee

*Re: NYSE Dow Jones Closed Today at*

Lucky for us our market is closed today


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## bigdog

*Re: NYSE Dow Jones Closed Today at*

The NYSE DOW closed DOWN -15 points  on Friday January 26 at: 

Symbol Last Change 
Dow 12,487.02  -15.54 (0.12%)  
Nasdaq 2,435.49  +1.25 (0.05%)  
S&P 500 1,422.18  -1.72 (0.12%)  
10-Yr Bond 4.8790%   +0.0120  
NYSE Volume 2,628,664,000 
Nasdaq Volume 2,083,880,000

Market Update  
NY time 4:20 pm : The indices finished in split fashion and were relatively flat Friday as investors juggled mixed corporate news, surging oil prices and the growing likelihood the Fed might not cut rates at all this year. 

Before the market opened, the belief that Thursday's sell-off may have been an overreaction, especially on the heels of Microsoft's (MSFT 30.60 +0.15) solid quarter and fellow Dow component Caterpillar (CAT 61.04 +1.41) issuing upside 2007 sales guidance, helped to improve the underlying tone.

Microsoft's solid quarter helped renew confidence in Technology's growth prospects, as bargain hunters jumped back into beaten-down chip stocks. Nonetheless, tech only recovering a fraction of the 1.0% it endured a day earlier was only enough to help the Nasdaq limp into the close with a paltry gain.

Aside from the inability to take a more convincing tech recovery into the weekend, growing uncertainty as to which way (and when) policy makers will fine-tune monetary policy also weighed on investors' minds.

NY time At 8:30 ET
, the market digested a report that showed underlying business investment trends are picking up after a few soft months. Durable goods orders jumped 3.1% in December, ex-transportation orders posted their first increase since September and non-defense orders (ex-trans) rebounded after a few months of decline.

Just a day removed from getting more evidence of stabilization in the economy's weakest sector - housing - the Commerce Dept. showed that new home sales rose a healthy 4.8% in December to a 1.12 mln annual rate, the highest level since April. The report also showed a decline in monthly inventories, a drop in median home prices and an upward revision to November's numbers. However, such


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## bigdog

*Re: NYSE Dow Jones Closed Today at*

The NYSE DOW closed UP 4 points  on Monday January 29 at: 

Symbol Last Change 
Dow 12,490.78  +3.76 (0.03%)  
Nasdaq 2,441.09  +5.60 (0.23%) 
S&P 500 1,420.62  -1.56 (0.11%)  
10-Yr Bond 4.8920%   +0.0130  
NYSE Volume 2,695,797,000 
Nasdaq Volume 1,978,769,000 

http://finance.yahoo.com/marketupdate/overview
Market Update   
NY time 4:20 pm : Stocks finished in similar fashion to the way they opened, relatively flat, as investors weighed positive developments like plunging oil prices and M&A activity against mixed earnings news and uncertainty heading into a two-day FOMC meeting. On Wednesday, policy makers are likely to keep rates unchanged again but underlying nervousness suggests the policy directive may exhibit a more hawkish stance than previously thought.

With another 25% of the S&P 500 reporting results this week, earnings were a focal point Monday. However, Dow component Verizon (VZ 38.04 +0.21) merely beating estimates by a penny also served as a reminder that there have been very few blowout numbers.

A batch of M&A news was also noteworthy; but the lack of any blockbuster deals left the market redirecting some of its focus to a slew of economic data out later in the week, especially the upcoming Fed policy statement. Laureate Education (LAUR 60.80 +6.39) going private was the biggest deal today. However, its proposed $3.8 bln management-led takeover was overshadowed by Merrill Lynch's (MER 92.44 -2.09) smaller $1.8 bln deal for First Republic (FRC 53.69 +15.39), but a 46% premium that drew criticism from MER shareholders. Ensuing weakness throughout the brokerage group removed some notable leadership from the most influential of all S&P sectors -- Financials.

Posting a similar 0.5% decline was Energy. Albeit holding up rather well early on, even as oil prices were down about 1.5%, the commodity slipping to as low as $53.75/bbl (-3.0%) in afternoon trade eventually took a toll on the sector. Crude for March delivery plunged 2.6% and closed below $54/bbl after a Saudi Official said current oil prices are adequate for consumers and producers


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## bigdog

The NYSE DOW closed UP 32 points  on Tuesday January 30 at: 

Symbol Last Change 
Dow 12,523.31  +32.53 (0.26%)  
Nasdaq 2,448.64  +7.55 (0.31%) 
S&P 500 1,428.82  +8.20 (0.58%)  
10-Yr Bond 4.8750%   -0.0170  
NYSE Volume 2,706,247,000 
Nasdaq Volume 1,857,258,000 

http://finance.yahoo.com/marketupdate/overview
Market Update  
NY time 4:20 pm : Considering the breadth of disappointments on the earnings front and soaring prices across the energy complex ahead of a plethora of economic data that also includes an update on monetary policy, stocks actually held up rather well Tuesday.

As evidenced by the S&P 500 turning in a better performance than the Dow and Nasdaq, it's not surprising to see just how big of an impact renewed enthusiasm for beaten-down oil stocks had on the day's action. All of the Energy sector's 33 components closed sharply higher, led by a 1.6% gain in shares of the broader market's most heavily-weighted name -- Exxon Mobil (XOM 74.36 +1.16). Explorers, among the biggest beneficiaries of soaring natural gas prices (+11%), was the day's best performing S&P industry group (+3.4%).

Crude for March delivery surged 5.4%, the biggest one-day move since Hurricane Katrina, to close near $57/bbl. The rally was sparked by reports of below-normal temperatures and news that Saudi Arabia will reduce daily production by another 158,000 barrels beginning Thursday.

It is also worth noting that even as policy makers said at their last meeting (Dec. 12) that "inflation pressures seem likely to moderate over time, reflecting reduced impetus from energy prices," the front-month crude contract closed that day near $61/bbl. Since that is still 7% higher than where it closed today, it didn't appear investors were too concerned about the Fed tweaking that portion of tomorrow's closely-watched policy directive. 

While the market was pricing in the likelihood of a Fed easing in early 2007, there's also an argument that such a rate cut may jeopardize the Fed's credibility and subsequently renew recession worries. Thus, since the Fed needs to talk tough on


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## bigdog

The NYSE DOW closed UP 98 points  on Wednesday January 31: 

Symbol Last Change 
Dow 12,621.69  +98.38 (0.79%)  
Nasdaq 2,463.93  +15.29 (0.62%)  
S&P 500 1,438.24  +9.42 (0.66%)  
10-Yr Bond 4.8260%   -0.0490  
NYSE Volume 2,895,446,000 
Nasdaq Volume 2,292,049,000 

Market Update   
http://finance.yahoo.com/marketupdate/overview
NY time 4:20 pm : Stocks rallied Wednesday as investors embraced further evidence that the Fed is doing a remarkably good job of managing a soft landing for the economy... so far. The Dow finished within a point of record levels, the S&P 500 closed out its eighth straight month of gains while the Russell 2000 and S&P 400 MidCap closed at historic highs.

Per usual, all eyes were fixed on today's FOMC meeting. As expected, policy makers left rates unchanged at 5.25% for a fifth straight time; but the policy statement carried some added risk. The market has been pricing in an increasingly hawkish stance for a few weeks ago now, and a stronger than expected advance read on Q4 GDP did little to change things.

While a rebound to 3.5% growth from 2.0% in Q3 dispels the worst of recession fears, suggesting the economy is back on trend, the GDP report further diminished the chance of the Fed easing anytime soon. Today's Fed statement further echoed such improbability, as the directive reflected a continued leaning toward a rate hike rather than lowering rates.

Oil prices tacking a 2.1% gain onto yesterday's 5.5% surge, marking the biggest two-day gain since December 2004, as well as the Energy sector's inability to take full advantage with a paltry 0.2% advance, also lent less conviction behind today's reaction to the Fed.  

Be that as it may, a market hungry for some upbeat news since earnings season so far has been uninspiring, market participants rallied around proof that the economy is firming, not slowing. The removal of "substantial" to describe the slowdown in housing and addition of "stabilization" was also greeted with enthusiasm, as was the phrase, "Readings on core inflation have improved modestly in


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## bigdog

The NYSE DOW closed UP 52 points on Thursday February 1: 

Looking very good for today on ASX!

Symbol Last Change 
Dow 12,673.68  +51.99 (0.41%) 
Nasdaq 2,468.38  +4.45 (0.18%) 
S&P 500 1,445.94  +7.70 (0.54%) 
10-Yr Bond 4.8370%   +0.0110  
NYSE Volume 2,914,890,000 
Nasdaq Volume 2,234,755,000


http://finance.yahoo.com/marketupdate/overview
Market Update 
NY time 4:20 pm : 
The Stock Trader's Almanac states that, "as the S&P goes in January, so goes the year." Well, with the S&P 500 briefly slipping into negative territory for 2007 last Friday but rallying into the end of the month to finish up 1.4%, that momentum carried over into Thursday's session, jumpstarting what is historically a flat month for equities.

Strong leadership from several key sectors, especially Industrials, contributed to the bullish disposition that left the Dow at a new record high. Raytheon (RTN 52.55 +0.65) becoming the second defense contractor in as many days to post strong Q4 results prompted follow-through buying in Boeing (BA 91.05 +1.49). The Dow component surged 1.7% to a new all-time high.

More notable was the economically-sensitive sector's ability to look past a discouraging update about manufacturing conditions. The January ISM index unexpectedly fell to 49.3%, indicating contraction, which ran counter to a Fed directive that showed firming economic growth a day earlier. The disappointment initially left investors questioning the validity of Wednesday's rally that we still believe was overdone considering the Fed's continued talk about tightening.

Be that as it may, investors eventually rallied around an earlier report that reinforced the Fed's view of moderating inflation pressures. Before the bell, the Commerce Dept. reported only a 0.1% rise in the core PCE deflator -- the Fed's favored inflation measure. While the January data left the year/year increase steady at 2.2%, still probably above where the Fed would like to see it, the rate of increase slowing over the last three months offered some added relief on the market's current focus -- inflation.

The Industrials sector's best performer, though, was American Standard (ASD 53.14 +3.75), which soared more than 7% to a record high after posting a 77% rise in Q4 earnings and saying it will split into three different businesses. The Dow Jones Transportation Average eclipsing the 5,000 mark for the first time since May, getting a boost from falling oil prices, provided additional support Industrials.

With regard to crude, the Energy sector's resilience in the face of a 1.4% pullback in oil was also noteworthy. After surging nearly 8% over the last two days, crude for March delivery closed lower at $57.30/bbl in sympathy with a decline in natural gas futures following bearish supply data. Exxon Mobil (XOM 75.08 +0.98) said that it earned $39.5 bln in 2006, the largest profit ever for a U.S. company. Valero Energy (VLO 56.03 +1.75), which also handily topped Wall Street expectations, got an additional lift as it weighed the possible sale of an Ohio refinery.

The Financials sector also showed its buoyancy, as an increase in borrowing costs was overshadowed by Lehman Brothers' (LEH 85.04 +2.80) plan to buy back nearly 20% of its stock.

Of the two sectors trading lower, the absence of leadership from Technology was the only reason the indices didn't turn in an even better performance. Google (GOOG 481.75 -19.75) failed to impress shareholders with a report that still showed Q4 profits nearly tripled. A change in sentiment as to what Michael Dell's return as CEO to the company that bears his name -- Dell (DELL 23.80 -0.42) -- also weighed on the influential sector. BTK +1.3% DJ30 +51.99 DJTA +1.7% DJUA 0.8% DOT +0.6% NASDAQ +4.45 NQ100 -0.1% R2K +0.9% SOX +0.8% SP400 +0.9% SP500 +7.70 XOI +1.3% NASDAQ Dec/Adv/Vol 1086/1952/2.15 bln NYSE Dec/Adv/Vol 881/2405/1.66 bln


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## bigdog

The NYSE DOW closed DOWN 52 points on Friday February 2:  and Nasdaq was UP +7.50 (0.30%)


Symbol Last Change 
Dow 12,653.49  -20.19 (0.16%) 
Nasdaq 2,475.88  +7.50 (0.30%)
S&P 500 1,448.39  +2.45 (0.17%)  
10-Yr Bond 4.8270%   -0.0100  
NYSE Volume 2,569,447,000 
Nasdaq Volume 1,940,376,000

Market Update   
NY time 4:20 pm : 
The major averages finished in split fashion Friday, indicative of the divide among investors as to what today's encouraging employment data mean for Fed policy.

Before the bell, the Labor Dept. showed that only 111,000 nonfarm payrolls were added in January. Since that was weaker than the consensus estimate and below the average gain of 153,000 per month for all of 2006, some investors viewed the news as bearish.

Throw in the Dow closing at record levels for a fifth time this year a day earlier and the S&P 500 on pace for its best weekly performance since August and a sense that blue chips may be overbought at current levels offered sellers an excuse to take some money off the table. The Dow snapped a three-day winning streak.

Be that as it may, looking beyond the headline read of lower payrolls did in fact show that the Fed is doing a surprisingly good job of managing a soft landing for the economy. Upon further analysis, an upward revision to previous data left the December figure at a strong 206,000, which equates to an additional 39,000 jobs. Add that to a January figure that is also likely to be revised higher, and the net two-month gain was exactly what the economists' January forecast of 150,000 assumed.

With investors now more preoccupied with inflation than the pace of economic growth, the report's hourly earnings component garnered even closer attention. To the market's surprise, average hourly earnings rose just 0.2%, following a downward revision to the previous month, and lowered the year/year gain to 4.0%. That was good news since it does not reflect the inflationary wage pressures that the Fed remains concerned about, as evidenced by their continued focus on "the high level of resource utilization."

Nonetheless, more evidence that the economy remains on a good growth path also did little to renew optimism about the Fed cutting rates anytime soon. Thus, with policy makers still exhibiting a tightening bias -- a fundamental shift from the point of view that helped stocks rally in the second half of 2006, it was not surprising to see a lack of conviction on the part of both buyers and sellers.

The market's resilience of late to rising energy prices was noteworthy. A late-day rally closed the March crude contract up 3.1% and at its highest levels for the year ($59.10/bbl); but since policy makers now believe that the "impetus from energy prices" has been reduced so much that there was no mention of it whatsoever in the Fed's recent FOMC statement, oil's inflationary potential was somewhat muted. The Energy sector's failure to take full advantage of oil's extended upturn, however, posed a problem from a leadership standpoint as Energy's modest 0.4% gain was only outdone by Telecom and Utilities -- two of the least influential sectors on the S&P 500.

As evidenced by the Nasdaq turning in the day's best performance among the majors, Technology attracted modest buying interest, but not even enough to offset Thursday's pullback. In fact, had it not been for a 2.0% surge in shares of Cisco Systems (CSCO 27.14 +0.55) following upbeat analyst commentary, the tech-heavy Composite might have also succumbed to some modest consolidation heading into the weekend. BTK +0.1% DJ30 -20.19 DJTA +0.2% DJUA +0.8% DOT +0.9% NASDAQ +7.50 NQ100 +0.4% R2K +0.2% SOX +0.9% SP400 +0.3% SP500 +2.45 XOI -0.3% NASDAQ Dec/Adv/Vol 1356/1648/1.92 bln NYSE Dec/Adv/Vol 1386/1869/1.41 bln


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## bigdog

The NYSE DOW closed UP 8 points on Monday February 5
Symbol Last Change 
Dow 12,661.74  +8.25 (0.07%)  
Nasdaq 2,470.60  -5.28 (0.21%) 
S&P 500 1,446.99  -1.40 (0.10%) 
10-Yr Bond 4.8080%   -0.0190  
NYSE Volume 2,475,916,000 
Nasdaq Volume 1,972,032,000

http://finance.yahoo.com/marketupdate/overview
Market Update 
NY time 4:20 pm : 
The S&P 500 snapped a four-day winning streak Monday as M&A activity, a reversal in oil, and reassurance about the pace of economic growth weren't enough to completely sideline sellers questioning the sustainability of the market's recent gains. Last week, the Dow, S&P 500 and Nasdaq surged 1.6% on average.

With the broader market turning in its best weekly performance (+1.8%) since last August, it wasn't surprising to see investors exhibiting some sense of trepidation today. Several Fed officials slated to give speeches this week, with Fed Chairman Bernanke talking tomorrow afternoon, also played into the lack of conviction on the part of both buyers and sellers, especially with earnings season winding down and no big reports today to drive the market.

The Dow clung to a small gain, but that was due in large part to a nearly 2.0% surge in shares of Hewlett-Packard (HPQ 42.81 +0.74). Investors applauded H-P's decision to strengthen its competitive position with the acquisition of Bristol Technologies. Wal-Mart (WMT 48.52 +0.44) estimating that January same-store sales will be up 2.2%, above the high end of its 1-2% guidance, also helped to offset a 1.9% decline in Microsoft (MSFT 29.61 -0.58), the day's worst performing Dow component. Microsoft fell after Barron's said future Vista sales may not justify the stock price at current levels.

Nine out of 10 sectors closed lower, but the biggest disappointments coming from two of the least influential economic sectors also underscored why the S&P 500 and Nasdaq weren't down more. The day's best performing sector was Utilities; but its 1.0% gain merely spoke to the market's defensive stance since it too is among the lowest weighted sectors in the S&P 500.

On a positive note, some M&A activity making headlines played into our Overweight rating on Financials and our belief that stock valuations remain reasonable. Triad Hospitals (TRI 49.70 +6.43) agreed to a $6.4 bln private equity buyout, State Street (STT 67.30 -4.45) is buying Investors Financial (IFIN 59.80 +12.85) for $4.5 bln, and billionaire financier Carl Icahn made a $2.4 bln bid for Lear Corp (LEA 38.70 +4.03). Since none of today's deals were blockbusters by any means, investors continued to err on the side of caution.

Also, crude for March delivery came within a nickel of hitting $60/bbl early in the session but closed well off its highs (+1.6%) and below $59/bbl. Oil eclipsing such a psychological barrier will become a bearish factor for stocks and bring its inflationary potential back into focus among policy makers. Nonetheless, subsequent deterioration throughout the Energy sector acted as an offset as investors settled into a holding pattern until presented with more notable catalysts to set a definitive tone to a market that looked ripe for a pullback. 

Separately, investors got some comforting news about the pace of economic growth from the services sector, especially after the weak 49.3 read on manufacturing conditions reported last week. The January ISM survey of national services companies came in with a reading of 59.0, the highest level since May. Nonetheless, since the services sector is so steady, the report did little to ease underlying concerns about the Fed cutting rates anytime soon. DJ30 +8.25 NASDAQ -5.28 SP500 -1.40 NASDAQ Dec/Adv/Vol 1739/1302/1.95 bln NYSE Dec/Adv/Vol 1808/1459/1.40 bln


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## bigdog

The NYSE DOW closed UP 4 points on Tuesday February 6:

Symbol Last Change 
Dow 12,666.31  +4.57 (0.04%) 
Nasdaq 2,471.49  +0.89 (0.04%) 
S&P 500 1,448.00  +1.01 (0.07%)  
10-Yr Bond 4.7650%   -0.0430  
NYSE Volume 2,575,722,000 
Nasdaq Volume 2,198,942,000 

Latest Updates
NY Time 4:20 pm : 
For a second straight day, stocks looked lethargic as the lack of catalysts this week continues to leave investors indecisive about the sustainability of last week's impressive rally.

While the absence of potentially troubling economic data cleared way for the bulls to build on recent market gains right out of the gate, renewed concerns about Tech's growth prospects, oil prices making another run at $60/bbl intraday, and some apprehension ahead of several speeches from Fed officials underpinned a sense of caution throughout the session.

Even with Fed Chairman Bernanke's testimony out of the way around 1:30 ET, which made no mention of interest rates or the economy, investors struggled to find much incentive to get back into a market ripe for a pullback on the heels of the S&P 500's best weekly performance since August.

Of the five sectors closing higher, Utilities turned in the best performance as falling bond yields made dividend-paying stocks more attractive. The Dow Jones Utilities Index was up for the seventh straight day and closed at an all-time high. 

The yield on the 10-year note fell four basis points to 4.76% after this week's first refunding auction garnered surprisingly strong demand from foreign central banks. The $16 bln 3-year note auction drew a solid 2.97 bid-to-cover with indirect bidder participation checking in at 32.3%, the biggest share since May 2005.

The rate-sensitive and much more influential Financials sector, though, provided the bulk of market support that merely helped the S&P 500 claw back after falling for the first time in five days. REITs were among the day's best performers after Blackstone raised its all-cash offer for Equity Office Properties (EOP 55.95 +0.49) to $39 bln. Investors also applauded MGIC Investment's (MTG 70.00 +7.07) decision to acquire Radian Group (RDN 66.54 +5.70) for $4.9 bln in stock while an analyst upgrade on State Street (STT 68.21 +1.13) gave Asset Managers a boost.

Providing additional sector support was Principal Financial Group (PFG 63.03 +0.79), which closed at an all-time higher after posting a 15% rise in Q4 profits. However, another strong profit report within the sector also served as a reminder that, without an estimated 8% contribution in aggregate earnings growth from Financials, Q4 profit growth for the S&P 500 stands at an unimpressive 3%.

Among the five sectors losing ground, Technology was the day's most influential laggard. A Q3 revenue warning from National Semiconductor (NSM 22.71 -0.61) Monday night gave investors another reason to rotate out of semiconductor stocks. A change of heart regarding tonight's Q2 report from Cisco Systems (CSCO 27.28 -0.23), which was up 1.0% earlier in anticipation of a solid report from the tech bellwether, also took away what little momentum stocks were exhibiting early on.

Energy was another disappointment as the sector failed to benefit from a late-day rebound in crude. Even with oil prices near their highest levels of the year, Anadarko Petroleum's (APC 42.40 -0.55) Q4 shortfall offset a 3.5% surge in Grant-Prideco (GRP 40.88 +1.37). The latter is a suggested holding in Briefing.com's Active Portfolio and it handily topped Wall Street forecasts and issued upside FY07 EPS guidance. BTK -0.2% DJ30 +4.57 DJUA +0.8% NASDAQ +0.89 NQ100 -0.1% R2K +0.4% SOX -0.5% SP400 0.5% SP500 +1.01 XOI -0.5% NASDAQ Dec/Adv/Vol 1323/1673/2.14 bln NYSE Dec/Adv/Vol 1197/2087/1.42 bln


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## bigdog

The NYSE DOW closed UP +0.56 points on Wednesday February 7:

Symbol Last Change 
Dow 12,666.87  +0.56 (0.00%) 
Nasdaq 2,490.50  +19.01 (0.77%) 
S&P 500 1,450.02  +2.02 (0.14%)  
10-Yr Bond 4.7450%   -0.0200  
NYSE Volume 2,601,535,000 
Nasdaq Volume 2,241,182,000

Latest Updates
http://finance.yahoo.com/marketupdate/update

Just before 11:00 ET, the Dow eclipsed the 12,700 level for the first time ever

NY time 4:20 pm : The major averages closed in positive territory again; but the blue-chip indices saw little conviction on the part of buyers since much of the market's attention was directed at the tech-heavy Nasdaq. Investors weighed upbeat news in the recently beaten-down Tech sector and tame inflation data against an underlying sense that the market is still overbought on short-term basis.

The day's biggest headliner was Cisco Systems (CSCO 28.09 +0.81). The tech bellwether, which is also a suggested holding in the Briefing.com Active Portfolio, kicked things off in fine fashion last night after topping Wall Street expectations with a 40% rise in Q2 profits. More notably, Cisco also raising its Q3 and Q4 sales guidance renewed optimism in the sector's growth prospects, especially since several tech companies have lowered guidance of late.

However, while Cisco's news had a ripple effect throughout the market early in the session, so much so that the bulls pushed the Dow into unchartered territory, concerns over overbought conditions crept back into the market late in the day to close the Dow and S&P 500 just barely in the green.

Just before 11:00 ET, the Dow eclipsed the 12,700 level for the first time ever, actually benefiting from a reversal in crude futures following a bearish oil inventories data. The commodity was up as much as 1.6% and making another run at $60/bbl ahead of the report. However, after failing to break above the psychological $60/bbl barrier for a third straight session, crude for March delivery plunged 2% and closed 3.6% off its intraday highs at $57.71/bbl.

Albeit only accounting for a 10% weighting on the S&P 500, the Energy sector tumbling in sympathy with the sell-off in oil, without much evidence of investment dollars rotating into other areas, exacerbated this week's already underlying cautious tone going into the close.

Fortunately for the bulls, one of the other sectors attracting buyers was also the most influential of all, Financials. REITs were among the day's best performers again, this time after Equity Office (EOP 55.45 -0.60) shareholders approved Blackstone's sweetened takeover bid. Vornado Realty Trust (VNO 135.59 +8.59) was the sector's best performer (+6.8%) as its shareholders applauded Vornado's decision to withdraw its riskier offer just hours before the vote.

Lincoln National Corp. (LNC 70.41 +2.01) posting a 69% rise in Q4 profits as revenue nearly doubled further supported our Overweight rating on a rate-sensitive Financials that got an added boost from falling bond yields.

With the Fed asserting in its latest policy statement that "the high level of resource utilization has the potential to sustain inflation pressures," today's preliminary read on Q4 productivity was also reassuring, even for bond traders.

At 8:30 ET, the Labor Dept. showed that productivity rose a stronger than expected 3.0% in Q4. Unit labor costs rose just 1.7%, after rising at a 3.2% rate in Q3, pushing the year-over-year increase to 2.8%. That follows a 2.9% rate in Q3 and 3.0% rate in Q2, a declining trend that won't necessarily put to rest concerns at the Fed about the implications of a tight labor market, but it eased the worst of fears that wage-based inflation pressures are building. DJ30 +0.56 DJTA +0.3% DOT +1.0% NASDAQ +19.01 NQ100 +1.0% R2K +0.7% SOX +1.6% SP400 +0.4% SP500 +2.02 XOI -0.5% NASDAQ Dec/Adv/Vol 1167/1866/2.20 bln NYSE Dec/Adv/Vol 1385/1861/1.40 bln


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## bigdog

The NYSE DOW closed DOWN 29 points on Thursday February 8:
Symbol ----- Last --- Change 
Dow Jones 12,637.63  -29.24 (0.23%)   
Nasdaq 2,488.67  -1.83 (0.07%) 
S&P 500 1,448.31  -1.71 (0.12%)  NYSE Volume 2,797,416,000 
Nasdaq Volume 2,036,242,000 
30-Yr Bond 4.8370%   -0.0330 

Latest Updates
http://finance.yahoo.com/marketupdate/update
NY Time 4:20 pm : Stocks closed slightly lower Thursday as uncertainty about decelerating profit growth resurfaced to keep the market in a period of consolidation following last week's sizable market gains.

Even though the bulk of earnings season is now in the rearview mirror, the market's foreword thinking mentality couldn't help but weigh the ramifications of renewed concerns within the mortgage lending business, especially the potential impact on earnings for the S&P 500's most influential sector.

As a reminder, Q4 earnings may be up about 11%, but broader weakness is being masked by extremely strong profit growth from Financials. In fact, without its estimated 8% contribution in aggregate earnings growth, Q4 profit growth for the S&P 500 stands at an unimpressive 3%.

Last night, HSBC Holdings (HBC 89.78 -2.44), the world's third largest bank, warned that provisions for bad debt will be some 20% higher than previously thought. That news weighed heavily on mortgage lenders and, in turn, provided a reason to lock in gains throughout Financials, removing key leadership for the broader market.

Exacerbated worries about the sub-prime lending market aside, economic data have suggested that weakness in housing has yet to spill over into the general economy. Be that as it may, the fact that even luxury home builders are now running into trouble took an added toll on sentiment. Toll Brothers (TOL 33.39 -1.04) plunged 3% after following up a 33% drop in Q1 orders by saying full-year write-downs will "significantly exceed" forecasts. That news made matters even worse for last year's second worst performing S&P industry group. Homebuilders plunged 21% in 2006 while today's 2.7% decline provided an extra reason to consolidate gains from this year's second-best performing sector -- Consumer Discretionary.

Discretionary was also in focus today as a plethora of retailers announced same-stores sales results for January. The final tally showed that about two-thirds of retailers topped analysts' expectations, and some companies like Federated Departed Stores (FD 42.86 +1.54) and Gap Inc (GPS 19.75 +0.50) offered some encouraging news about Q4 earnings. However, disappointments from large retailers like Costco (COST 56.62 -0.51), which posted its slowest comps growth since November 2002, and Family Dollar (FDO 32.11 -1.14) left investors less than impressed about what was expected to be a strong month for almost every retailer.

Of the six sectors trading lower, though, Industrials turned in the day's worst performance. General Electric (GE 35.74 -0.36) fell nearly 1.0% amid reports that News Corp. (NWS 25.28 +0.58), a suggested holding in Briefing.com Active Portfolio, plans to launch a long-awaited business news channel in the fall that will compete directly with GE's CNBC.

Aerospace & Defense was also in focus after Northrop Grumman (NOC 74.39 +0.76) saying it will bid on a $40 bln Air Force contract no longer left rival Boeing (BA 89.52 -0.83) as the only bidder. Waste Management (WMI 35.35 -3.06), though, was the sector's worst performer (-8.0%) after posting a 15% drop in Q4 earnings.

While the market overall continues to show surprising resilience in the face of higher energy prices, economically-sensitive areas like transportation were not as fortunate, which also weighed on Industrials.

Crude for March delivery surged late in the day following reports of a fire at California's biggest gas field. The commodity closed up 3.6% near $59.70/bbl -- its highest level of the year, providing a lift to the Energy sector but not enough to act as an offset from a leadership standpoint. BTK +0.7% DJ30 -29.24 DJTA -0.6% DJUA +0.6% NASDAQ -1.83 SOX -0.5% SP500 -1.71 XOI +1.1% NASDAQ Dec/Adv/Vol 1544/1485/2.02 bln NYSE Dec/Adv/Vol 1738/1518/1.55 bln


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## bigdog

The NYSE DOW closed DOWN 56 points on Friday February 9:

Symbol ----- Last --- Change 
Dow 12,580.83  -56.80 (0.45%) 
Nasdaq 2,459.82  -28.85 (1.16%) 
S&P 500 1,438.06  -10.25 (0.71%)  
10-Yr Bond 4.7840%   +0.0540  
NYSE Volume 2,952,295,000 
Nasdaq Volume 2,246,876,000

Market Update
http://finance.yahoo.com/marketupdate/overview
NY time: 4:20 pm : What was initially shaping up to be just another sluggish day of vacillating around the unchanged mark, like stocks had been doing throughout most of the week, actually became quite a disappointment for the bulls.

There were no economic releases on the calendar Friday and there were no big earnings reports of note. However, with oil prices eclipsing the $60/bbl mark going into another cold weekend and interest rates on the rise following some hawkish Fed speak, the stage was set for the bears to keep their eyes peeled for a catalyst to finally work off some of the sizable gains endured a week earlier that were already coming under scrutiny.

Then, just as the afternoon session got under way, sellers hungry to lock in profits found the news they deemed necessary to keep buyers sidelined into the close. Albeit not a tech bellwether, Micron Technology (MU 12.54 -0.35) saying it sees memory chip prices plunging 30-40% this quarter sent a shockwave through a tech sector already vulnerable. Just look at the lack of follow through from Cisco Systems' (CSCO 27.71 -0.43) upbeat report earlier in the week.

While Cisco boosting its sales outlook two days ago offered some reassurance about tech's growth prospects, especially following lowered guidance of late, Micron dangling another piece of uncertainty exacerbated the market's underlying skepticism about the sector's profit potential.

Since higher interest rates spark valuation concerns among growth stocks as well, Treasuries consolidating a week's worth of gains took an added toll on a tech sector slated to be one of the biggest profit drivers this year. The 10-year note yield rose to 4.78% after several Fed officials further diminished hopes of a rate cut anytime


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## bigdog

The NYSE DOW closed DOWN 28 points on Monday February 12:


Symbol ----- Last --- Change 
Dow 12,552.55  -28.28 (0.22%) 
Nasdaq 2,450.38  -9.44 (0.38%) 
S&P 500 1,433.37  -4.69 (0.33%)  
10-Yr Bond 4.8040%   +0.0200  
NYSE Volume 2,315,705,000 
Nasdaq Volume 1,890,796,000 

Latest Updates
http://finance.yahoo.com/marketupdate/update
NY time 4:20 pm : The selling continued Monday as investors weighed ongoing uncertainty about Fed policy and the collapse of some noteworthy M&A deals against a sell-off in oil.

Per usual for a Monday, there was some acquisition news to digest. Home Depot (HD 41.48 +0.48) mulling the spin-off, IPO, or even a sale of its HD Supply unit had the Dow component up as much as 2.5% at one point. Vodaphone (VOD 29.53 +0.58) won a majority stake in Hutchison Essar for $11.1 bln. Hindalco Industries agreed to buy Alcan spin-off Novelis (NVL 43.67 +5.13) for $6 bln -- a sizable 16% premium on top of two weeks of takeover speculation.

However, reports that Sanofi-Aventis (SNY 44.29 +0.51) called off merger talks with Bristol-Myers (BMY 27.59 -0.93) and that the Nasdaq (NDAQ 35.10 -2.10) failed again to get shareholder approval for its hostile takeover of the London Stock Exchange left investors questioning valuations and the market's weakening fundamentals.

Stocks running virtually unabated since July of last year, without any real setback, has raised concerns that a correction is coming; worries that we believe will make it difficult for any sustained move to the upside in the near-term.

Market participants also erred on the side of caution as they awaited clues about the interest rate outlook. All eyes this week will be on Fed Chairman Bernanke as he goes before the Senate and House Committees Wednesday and Thursday, respectively, to provide his semi-annual testimony on the economy and monetary policy.

As a reminder, now that 75% of S&P 500 constituents have reported quarterly results, the focus has shifted from Q4 earnings to the general economic outlook.

On a positive note, oil prices plunged 4.0% and closed near $57.50/bbl after briefly eclipsing the psychologically important $60/bbl mark on Friday. Crude for March delivery was initially under pressure after the Saudi oil minister suggested production cuts may not be necessary; but the commodity's decline was exacerbated by this year's biggest one-day decline (-7.6%) in natural gas futures.

As one might expect, the oil price retreat weighed on the Energy sector, which was the day's worst-performing economic sector with a loss of 1.20%. BTK -1.0% DJ30 -28.28 DJTA +0.4% DJUA -0.1% DOT -0.4% NASDAQ -9.44 NQ100 -0.4% R2K -0.1% SOX -1.0% SP400 -0.3% SP500 -4.69 XOI -1.3% NASDAQ Dec/Adv/Vol 1740/1326/1.87 bln NYSE Dec/Adv/Vol 2004/1259/1.26 bln


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## bigdog

The NYSE DOW closed UP 102 points on Tuesday February 13:


Symbol ----- Last --- Change 
Dow 12,654.85  +102.30 (0.81%) 
Nasdaq 2,459.88  +9.50 (0.39%) 
S&P 500 1,444.26  +10.89 (0.76%) 
10-Yr Bond 4.8140%   +0.0100  
NYSE Volume 2,622,378,000 
Nasdaq Volume 1,878,437,000 

Market Update
http://finance.yahoo.com/marketupdate/overview
NT time 4:20 pm : Stocks snapped a three-day losing streak Tuesday as a rumored takeover of a Dow component and upbeat analyst commentary gave investors some confidence to get back into the market.

The day's biggest headline included Alcoa (AA 34.96 +2.06), which surged 6.3% amid reports that mining giants BHP Billiton (BHP 45.05 +1.04) and Rio Tinto (RTP 217.04 +6.61) are mulling separate impending buyout bids as high as $40 bln for the Dow component. The stock, which was up as much as 10% and accounted for a 25-point move on the Dow earlier, pared some of the gains intraday after Lehman dismissed the likelihood of a takeover. 

Nonetheless, the Alcoa news left many on Wall Street pricing in the likelihood of more blockbuster M&A deals, which gave a lift to brokerage stocks and played into our Overweight rating on Financials. Also providing a floor of support for the S&P 500's most influential sector were Banks. Dow components like Citigroup (C 53.68 +0.25) and JP Morgan Chase (JPM 50.96 +0.52) advanced after Merrill Lynch said concerns over sub-prime mortgage exposure are "overblown."

Providing further evidence that valuations are reasonable at current levels and temporarily silencing talk of a possible market correction was 3M Co. (MMM 76.33 +1.74). The stock turned in the day's second best performance (+2.3%) on the Dow after announcing plans to repurchase $7 bln in company stock over the next two years. 

Staying in the Industrials sector, the ability of transportation stocks to look past a 2.0% surge in oil prices was also noteworthy. Railroads was one of today's best performing S&P industry groups after Bear Stearns cited greater operating efficiencies and a more diversified freight mix as reasons to keep riding the rails.

With regard to oil, crude for March delivery closed at $58.97/bbl after the I.E.A. raised its 2007 forecast for global oil consumption. While higher energy prices are bearish for the economy, and may garner added attention in Fed Chairman Bernanke's semi-annual meeting over the next two days, prices merely rebounding from Monday's 4.0% sell-off provided enough subsequent leadership in the beaten-down Energy sector to act as an offset. As a reminder, policy makers removed the "impetus from energy prices" as an inflation risk from their most recent FOMC statement (Jan. 31).

Another sector providing notable leadership was Consumer Discretionary. Comcast (CMCSA 41.00 +1.02) was the biggest source of sector support, as news that its closest rival, Time Warner Cable, going public lent some validation to the health of the growing cable business. General Motors (GM 36.64 +0.93) surging 2.6% to a new 52-week high after being upgraded to Buy from Sell at Merrill Lynch was another sector bright spot and contributed to the Dow's first 100-point advance this month. BTK -0.1% DJ30 +102.30 DJTA +1.5% DJUA +0.4% DOT +0.5% NASDAQ +9.50 NQ100 +0.3% R2K +0.7% SOX +0.5% SP400 +0.9% SP500 +10.89 XOI +1.5% NASDAQ Dec/Adv/Vol 1191/1818/1.86 bln NYSE Dec/Adv/Vol 954/2338/1.34 bln


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## bigdog

The NYSE DOW closed UP 87 points on Wednesday February 14:

Symbol ----- Last --- Change 
Dow 12,741.86  +87.01 (0.69%) 
Nasdaq 2,488.38  +28.50 (1.16%) 
S&P 500 1,455.30  +11.04 (0.76%)  
10-Yr Bond 4.7300%   -0.0840  
NYSE Volume 2,678,697,000 
Nasdaq Volume 2,256,437,000 

Market Update
http://finance.yahoo.com/marketupdate/overview
NT time: 4:20 pm : 
Stocks rallied Wednesday as a lack of overly hawkish commentary from Fed Chairman Bernanke eased the worst of fears about a possible rate hike. 

Speaking before the Senate Banking Committee, Bernanke stated that "inflation pressures are beginning to diminish." He also said the Fed remains comfortable with rates at their current levels, easing recent concerns about the prospect of another rate hike and painting the goldilocks scenario the bulls were hoping for. While Bernanke didn't call for any policy easing, after also alluding to further rate hikes if pricing pressures fail to ease as expected, his overall upbeat tone on both the economy and cooling inflation pressures diminished the likelihood for a continued push higher on policy rates.

Such a steady policy outlook, which is consistent with Briefing.com's assessment, renewed optimism about the market's growth prospects and fueled a rally in equities that closed all 10 sectors higher on the day and pushed several indices into uncharted territory. The Dow Jones Industrials, Transportation and Utilities Averages all finished at historic highs.

From a sector standpoint, Industrials turned in the day's best performance. Bernanke noting "the current stance of policy is likely to foster sustainable economic growth" was the initial spark luring investors back to the economically-sensitive sector. Deere & Co (DE 111.91 +9.24) soared 9% to an historic high after handily topping Wall Street expectations and was the sector standout.

Bernanke also attributing part of the "gradual ebbing of core inflation" to declines in oil prices allowed transports to take full advantage of a 1.7% sell-off in crude. CSX Corp (CSX 42.10 +2.73) surged 7% to an all-time high, getting an additional boost after announcing a $2 bln buyback, while an analyst upgrade gave FedEx (FDX 117.58 +4.04) an extra lift.

The Energy sector's resilience in the face of oil's downturn further underscored the market's eagerness to own equities today. Crude for March delivery closed near $58/bbl after the Energy Dept. earlier showed that weekly inventories remain adequate to meet demand.

Turning in the day's second best performance, though, was the even more influential Technology sector. After snapping an eight-day losing streak a day earlier, Microsoft (MSFT 29.40 +0.37) built on yesterday's gains to the tune of a 1.3% advance. Intel (INTC 21.14 +0.24), the only other stock listed on all three major averages, also turned in an impressive performance (+1.2%). Since higher interest rates spark valuation concerns among growth stocks, the Bernanke-induced rally in Treasuries pushing yields lower across the board also helped to restore confidence throughout the struggling tech sector.BTK +0.9% DJ30 +87.01 DJTA +2.1% DJUA +0.4% DOT +1.3% NASDAQ +28.50 NQ100 +1.8% R2K +0.2% SOX +2.1% SP400 +0.7% SP500 +11.04 XOI +0.5% NASDAQ Dec/Adv/Vol 1250/1786/2.12 bln NYSE Dec/Adv/Vol 1116/2161/1.46 bln


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## bigdog

The NYSE DOW closed UP 23 points on Thursday February 15:

Symbol ----- Last --- Change 
Dow 12,765.01  +23.15 (0.18%) 
Nasdaq 2,497.10  +8.72 (0.35%) 
S&P 500 1,456.81  +1.51 (0.10%)  
10-Yr Bond 4.71%   -0.02  
NYSE Volume 2,451,167,000 
Nasdaq Volume 1,992,389,000 

Market Update
http://finance.yahoo.com/marketupdate/overview
NT time: 4:20 pm 
After recouping all of last week's declines in one session (yesterday), leaving the major averages up more than 1.2% for the week and the Dow at historic highs, it wasn't surprising to see stocks look a bit tired throughout most of the session Thursday. Federal Chairman Bernanke was finishing up his second day of testimony to Congress and the day's scheduled economic data were a mixed bag.

Be that as it may, the momentum fueled by diminishing fears of a possible rate hike kept sellers sidelined for one more day as the bulls held on to close the Dow at record levels for the 29th time since October.

Caterpillar (CAT 67.62 +1.46) was the blue-chip index's best performer (+2.2%) as investors applauded its board's approval of a huge $7.5 bln stock buyback. Fellow Dow component Boeing (BA 91.71 +1.77) was another winner, surging 2.0% to an all-time high after confirming a UPS order for 27 freighters. The same couldn't be said for the rest of the Industrials sector, though, which finished relatively flat as an analyst downgrade on CSX Corp (CSX 40.75 -1.35) and mixed economic data left investors questioning valuations.

Before the bell, the February NY Empire State Index rebounded from a 19-month low, which initially provided good news for the struggling manufacturing sector. However, an unexpected drop in January Industrial Production and a disappointing read on the Philly Fed survey acted as offsetting factors.

Of the eight sectors closing higher, Consumer Staples paced the way. Wal-Mart (WMT 48.36 +0.49) surged 1.0% following reports that The Gates Foundation increased its stake about 50% to 1 mln shares last year. Anheuser-Busch (BUD 51.74 +1.51), which is reportedly in merger talks with InBev, also lent some support.

Another defensive-minded sector providing leadership but inadvertently lending less conviction behind today's follow-through efforts was Health Care. HMOs were among today's best performing S&P industry groups (+2.7%) after Berkshire Hathaway disclosed a stake in UnitedHealth Group (UNH 53.61 +1.97). Biotech was also in focus as billionaire investor Carl Icahn disclosing a 2.8 mln stake in MedImmunne (MEDI 33.16 +1.91) helped offset a Q4 earnings shortfall from Biogen Idec (BIIB 48.00 -2.49).

Technology also provided some notable leadership, getting a lift from analyst upgrades on Qualcomm (QCOM 41.31 +1.65) and Network Appliance (NTAP 40.30 +1.89).

After falling to as low as $56.65/bbl earlier (-2.3%), a late-day rally in oil closed the March contract relatively unchanged. While the market's resilience to the volatile trading in oil of late has been noteworthy, the fact that Energy failed to participate in paring any of its 1.0% intraday decline further underscored the lack of energy investors as a whole had after a healthy two-day sprint for the market. A Q4 earnings shortfall from Baker Hughes (BHI 65.26 -6.68), the day's worst performing S&P 500 constituent (-9.3%), also weighed on Energy. DJ30 +23.16 NASDAQ +8.72 SP500 +1.51 NASDAQ Dec/Adv/Vol 1514/1522/1.98 bln NYSE Dec/Adv/Vol 1352/1900/1.36 bln


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## bigdog

The NYSE DOW closed UP 2.56 points on Thursday February 15:

Dow ends week on record high
From correspondents in New York 
February 17, 2007 
http://www.theaustralian.news.com.au/story/0,20867,21240916-31037,00.html

THE leading blue chip Dow Jones Industrial Average edged up to a record high overnight as investors remained upbeat about US economic prospects despite news of a sharp slump in housing activity.
The Dow closed up a scant 2.56 points (0.02 per cent) at a record 12,767.57, notching up its second straight record high in as many days. 

The Dow's gains were muted overnight, however, following the market's strong run up a day earlier, and other major indices finished a shade lower. 

The Nasdaq composite finished 0.79 points (0.03 per cent) lower at 2,496.31 while the broad-market Standard and Poor's 500 index ended down 1.27 points (0.09 per cent) at 1455.54. 


Symbol ----- Last --- Change 
Dow 12,767.57  +2.56 (0.02%)  [/COLOR] 
 Nasdaq 2,496.31  -0.79 (0.03%) 
S&P 500 1,455.54  -1.27 (0.09%) 
10-Yr Bond 4.69%   -0.02  
NYSE Volume 2,400,320,000 
Nasdaq Volume 1,947,222,000 

Market Update
http://finance.yahoo.com/marketupdate/overview
NT time: 4:20 pm
After three consecutive days of gains, stocks looked lethargic Friday, trading in a narrow range throughout the session before closing relatively unchanged. The bulls still put up a respectable fight, however, since the Dow in the closing minutes limped into the finish with its 30th record close since October.

Among the biggest headlines stalling the market's momentum was Microsoft (MSFT 28.74 -0.72), which plunged after CEO Steve Ballmer spooked shareholders by saying analysts' sales estimates for Vista are "overly aggressive." Since the tech bellwether is one of only two stocks listed on all three major averages, Microsoft's 2.4% decline was a thorn in the market's side all day.

Also overshadowing another day of M&A was an exaggerated decline in housing starts. AMR Corp. (AMR 38.97 +0.92), a suggested holding in our Active Portfolio, is reportedly being eyed as a takeover target by a group that includes Goldman Sachs (GS 216.92 +0.10) and British Airways (BAB 112.65 +0.02). It was also reported that General Motors (GM 36.34 -0.10) is in talks to buy the entire Chrysler Group (DCX 73.33 +3.08).   

Just two days ago, Fed Chairman Bernanke said he sees economic growth strengthening somewhat as the drag from housing diminishes. However, a larger than expected 14.1% decline in January housing starts to 10-year lows, whether an aberration or not due to the volatile nature of the report, failed to provide further proof that the struggling housing sector has not bottomed out.

The latest read on inflation at the wholesale level also hit the wires at 8:30 ET. Total PPI and core PPI matched economists' forecasts; but since the data won't alter inflation expectations, the report failed to provide investors with overwhelming evidence that pricing pressures are abating. The focus now turns to next week's more closely-watched CPI report.

From a sector standpoint, Honeywell (HON 47.83 +0.26) becoming the third Dow component this week to announce a sizable share buyback kept the Industrials sector in focus. However, further consolidation in railroads and weakness in the aerospace group earmarked the influential sector as the day's worst performer.

Oil prices surging 2.4% without any follow-through in energy stocks further underscored the market's cautious tone after such an impressive week for equities overall. DJ30 +2.56 NASDAQ -0.79 SP500 -1.27 NASDAQ Dec/Adv/Vol 1307/1688/1.92 bln NYSE Dec/Adv/Vol 1641/1637/1.33 bln


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## bigdog

NYSE - The markets are closed Monday Feb 19 2007 for President's Day.


----------



## bigdog

The NYSE DOW closed UP 19 points on Tuesday February 20:

Symbol ----- Last --- Change 
Dow 12,786.64  +19.07 (0.15%) 
Nasdaq 2,513.04  +16.73 (0.67%) 
S&P 500 1,459.68  +4.14 (0.28%) 
10-Yr Bond 4.68%   -0.01  
NYSE Volume 2,337,761,000 
Nasdaq Volume 2,225,976,000 


Market Update
http://finance.yahoo.com/marketupdate/overview
NT time: 4:20 pm 
What was initially shaping up to be a logical pullback, given last week's sizable market gains and the growing realization that earnings growth is decelerating, ended up turning into another victory for the bulls.

While there wasn't overwhelming evidence Tuesday to justify follow-through buying efforts, especially with the Dow fresh off its 30th record close since October and turning in its best weekly performance (+1.5%) in three months, investors eventually rallied around some M&A news, another decline in oil, and an upbeat outlook from Wal-Mart (WMT 50.16 +1.68).

The Dow component surged 3.5% after posting record Q4 sales and earnings and then forecasting Q1 profits at the high end of expectations. Wal-Mart's gain helped to offset a less than stellar year-end earnings report from Home Depot (HD 41.29 -0.15).

Also helping the blue-chip index close at a historic high for the fourth straight session was a new all-time high on McDonald's (MCD 45.84 +0.52) and a 1% advance from Hewlett-Packard (HPQ 43.21 +0.44) heading into its Q1 report after the close.

Among the eight sectors finishing in positive territory, Consumer Discretionary (+0.7%) turned in the best performance. Retailers (RLX +1.0%), benefiting from Wal-Mart's upbeat outlook as well as Target (TGT 64.30 +1.39) surging 2.2% after backing February comps growth of 4-6%, also got a boost from lower oil prices.

Crude for March delivery, which expired today, fell 2.2% to $58.07/bbl amid speculation warm weather forecasts will curb demand for heating oil. Crude for April delivery, the new front-month contract, fell 1.7% to $58.85/bbl.

As evidenced by the AMEX Securities Broker / Dealer Index closing sharply higher and near record levels, some M&A news also made the rounds Wednesday. Sirius Satellite Radio (SIRI 3.92 +0.22) and XM Satellite Radio (XMSR 15.41 +1.43) hooking up in an $11.4 bln "merger of equals" was the biggest announcement. Even though such a deal faces significant regulatory hurdles, the two companies soared on the news and combined to account for roughly one sixth of the total volume on the Nasdaq. DJ30 +19.07 DJTA +0.8% DJUA 0.5% DOT +0.6% NASDAQ +16.73 NQ100 +0.7% R2K +1.0% SOX +0.3% SP400 +0.7% SP500 +4.14 XOI -0.8% NASDAQ Dec/Adv/Vol 1075/2011/2.15 bln NYSE Dec/Adv/Vol 1296/2012/1.24 bln


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## bigdog

The NYSE DOW closed DOWN 48 points on Wednesday February 21:

Symbol ----- Last --- Change 
Dow 12,738.41  -48.23 (0.38%)  
Nasdaq 2,518.42  +5.38 (0.21%)  
S&P 500 1,457.63  -2.05 (0.14%) 
10-Yr Bond 4.69%   +0.01  
NYSE Volume 2,604,326,000 
Nasdaq Volume 2,065,067,000 

Market Update
http://finance.yahoo.com/marketupdate/overview
NT time: 4:20 pm
The indices finished mixed Wednesday as a modest warning signal about a potential firming in inflation rates weighed on sentiment and exacerbated the temptation to take some money off the table.

Mindful that so many indices -- from the Dow Industrials, Transports and Utilities to the S&P 400 MidCap and Russell 2000 -- hit record highs a day earlier, a sense that stocks are overbought on a short-term basis contributed to an underlying sense of nervousness as investors awaited the latest read on consumer inflation.

Valuation concerns came under additional scrutiny around 8:30 ET when the Labor Dept. showed that core CPI in January rose 0.3%.  That was the biggest increase since June and followed three consecutive tame readings of 0.1%. It also pushed the year-over-year increase in the core rate to 2.7%, clearly above the Fed's desired range. 

While the one month read on inflation does not signal a new trend, it does signal that inflation pressures may not have diminished as much as the market had hoped, which tarnished the Goldilocks scenario painted last week by Fed Chairman Bernanke's surprisingly dovish commentary.

With the Dow fresh off closing in record territory for four straight days, it wasn't surprising to see the blue-chip average come under some profit-taking pressure. The Dow's biggest disappointment was Hewlett-Packard (HPQ 41.09 -2.04), which plunged 4.7% after failing to impress shareholders with its earnings release last night. H-P's Q1 earnings topped Wall Street forecasts, but Q2 guidance that barely exceeded analysts' expectations gave investors an excuse to lock in recent gains. The stock is up 50% since bottoming in June of last year.

Fellow Dow component Microsoft (MSFT 29.35 +0.52), however, fared much better and was the biggest reason behind the Nasdaq's ability to hold onto a small gain. Microsoft, the tech-heavy Composite's most heavily-weighted component, was up 1.8% following reports that the state of Texas [alone] is expected to generate more than $6 bln of Windows Vista-related products and services this year.

Of the eight sectors closing lower, Utilities turned in the worst performance but the absence of leadership in the more influential Health Care sector was more noteworthy. Medtronic (MDT 51.91 -2.63) topped Wall Street expectations last night, but management narrowing its full-year revenue and earnings guidance earmarked the stock as the sector's biggest laggard (-4.8%).

Dow component Merck (MRK 43.94 -0.56) plunging 1.4% after reportedly suspending its Gardasil mandatory-vaccination campaign also offset strength among PBMs -- one of the day's best performing S&P industry groups. Medco Health Solutions (MHS 67.66 +6.07) soared nearly 10% to an all-time high after following up a 29% rise in Q4 profits by projecting 2008 EPS growth of at least 20%.

Materials was the day's best performing sector, but that was due in large part to gold prices, which can act as an inflation hedge, surging 3.2% to nine-month highs. Energy also finished to the upside and helped to offset some of the losses on the S&P 500. However, renewed enthusiasm for beaten down energy names also came at the expense of surging oil prices.

Crude for April delivery rose 2.1% and closed above the psychological $60/bbl mark in anticipation that tomorrow's weekly inventory report will show a larger than expected drawdown in distillates. Even though total CPI rose just 0.2% in January, reflecting the fact that falling energy prices remain a factor in pulling down overall inflation rates, oil prices above $60/bbl raise concerns about the commodity's potential to curb spending and worsen what is already expected to be a year of decelerating earnings growth. DJ30 -48.23 NASDAQ +5.38 SP500 -2.05 NASDAQ Dec/Adv/Vol 1488/1531/2.05 bln NYSE Dec/Adv/Vol 1799/1479/1.37 bln


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## bigdog

The NYSE DOW closed DOWN 52 points on Thursday February 22:

Symbol ----- Last --- Change 
Dow 12,686.50  -51.91 (0.41%)  
Nasdaq 2,524.94  +6.52 (0.26%)  
S&P 500 1,456.39  -1.24 (0.09%)  
10-Yr Bond 4.7300%   +0.0380  
NYSE Volume 1,950,774,000 
Nasdaq Volume 1,970,330,000 

Market Update
http://finance.yahoo.com/marketupdate/overview
NT time: 4:20 pm
In similar fashion to yesterday's mixed finish, investors were again split as to whether or not stocks at current levels are overbought.

With so many different indices, from the Dow Industrials and Transportation averages to the S&P 400 MidCap and Russell 2000, hitting records, it's easy to see why some on Wall Street remain concerned that the market is getting ahead of itself. 

That's especially true since continued market gains require an expansion in the P/E multiple, which typically is associated with an improving earnings growth outlook or declining interest rates. However, it remains to be seen if the Fed will ease anytime soon while earnings growth for the S&P 500 is expected to slow to near 5% in Q1, and perhaps 7% for Q2 and Q3.

Aside from an encouraging outlook from Analog Devices (ADI 36.59 +3.27) renewing growth prospects for some semiconductor stocks (e.g. TXN +2.3%, MXIM +7.8%, LLTC +9.8% and NSM +6.4%), which helped Technology provide some decent leadership, the bulk of notable reports making headlines today confirmed that profits are decelerating.

JC Penney (JCP 83.65 -2.70) posted record results, but Q4 earnings fell 13% from a year ago and management guided Q1 EPS below consensus estimates. Aside from JCP's report providing an excuse to lock in retail gains, weakness among homebuilders also weighed on the Consumer Discretionary sector. Toll Brothers (TOL 31.69 -1.17) posted a 67% drop in quarterly earnings.

Of the six sectors losing ground, Industrials turned in the worst performance. After hitting an all-time high yesterday, Deere & Co (DE 112.85 -3.10) succumbed to the most aggressive of profit-taking efforts. Transportation, also a day removed from reaching historic highs, was another sector sore sport as oil prices surging 1.4% to close near $61/bbl provided a reason to take some money off the table.

Crude for April delivery tacked a 1.4% advance onto yesterday's 2.0% gain after the Energy Dept. reported much larger than expected drawdowns in gasoline and distillate supplies. Oil got an added boost following reports that Iran failed to suspend its nuclear enrichment activity by the February 21 deadline.

Per usual, the Energy sector took notice of crude's climb, halving its year-to-date decline with a 1.0% gain. However, with oil above $60/bbl potentially bringing the commodity's inflationary characteristics back into focus among policy makers, Energy's leadership was not enough to act as an offset. 

Dow component Exxon Mobil (XOM 75.00 +0.22), which as the most influential S&P 500 constituent accounts for 23% of the weighting in Energy, only closed up 0.3%. DJ30 -52.39 DJTA -0.3% DJUA +0.4% NASDAQ +6.52 NQ100 +0.4% SOX +2.8% SP400 -0.2% SP500 -1.25 XOI +0.6% NASDAQ Dec/Adv/Vol 1343/1651/2.03 bln NYSE Dec/Adv/Vol 1753/1477/1.40 bln


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## bigdog

The NYSE DOW closed DOWN 38 points on Friday February 23:

Symbol ----- Last --- Change 
Dow 12,647.48  -38.54 (0.30%) 
Nasdaq 2,515.10  -9.84 (0.39%) 
S&P 500 1,451.19  -5.19 (0.36%) 
10-Yr Bond 4.68%   -0.05  
NYSE Volume 2,557,202,000 
Nasdaq Volume 2,071,020,000 


Market Update
http://finance.yahoo.com/marketupdate/overview
NT time: 4:20 pm
Stock prices slumped on Friday under the weight of a weak financial sector, which got marked down on concerns about the problems in the subprime mortgage market.  Those aren't new concerns, but the new thought that influenced investors today was the concern that the problems in the subprime market will carry over to prime lenders.

Now, before creating an impression that participants were really spooked by that possibility, let's be real and take a look at the major indices, and specifically the S&P 500 which dropped a mere 5 points. 

To be sure, if the subprime issue was really worrying investors, the S&P 500 would have been down a lot more than it was on Friday.  The fact that it wasn't speaks to an enduring bullish bias that has been aided by strong liquidity and good old-fashioned momentum.

While Briefing.com has retained a moderately bullish outlook, we are a bit concerned that the market is getting ahead of itself knowing that earnings growth will slow this year and that there is a lingering threat that the Fed will raise interest rates again.

One of the factors contributing to the rate hike threat is the rebound in oil prices, which hit a high of $61.80 today on the April contract before sliding back on profit taking efforts to close at $60.92.  Iran's defiance of the UN over its nuclear program and concerns about refinery production played a big part in oil's uptick this week.

The energy sector (+0.21%) was one of the few winning groups on Friday, but its gains got pared as oil prices retreated late in the session.  The utilities sector (+0.95%) was the market's strongest area as better than expected earnings from Nicor (GAS 46.87, +0.59), the sector's defensive orientation, and a drop in market rates sparked buying demand for the income-oriented stocks.

Broad-based weakness in the financial sector (-1.08%), though, was the market's biggest stumbling block today that kept it from making any spirited rebound tries.  REITs and investment banking stocks were the hardest hit by selling activity.

In other developments, home improvement retailer Lowe's (LOW 34.93, +1.30) was a winning standout after reporting fourth quarter EPS results that topped expectations by three cents. The real impetus for the stock's advance, though, was the company's admission that it is encouraged by indications that suggest sales trends have bottomed.

Separately, the Treasury market fared well in a flight-to-quality trade that saw the 10-year yield gain 14 ticks and its yield drop to 4.67%.DJ30 -38.54 NASDAQ -9.84 SP500 -5.19 NASDAQ Dec/Adv/Vol 1737/1305/2.04 bln NYSE Dec/Adv/Vol 1676/1599/1.37 bln


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## bigdog

The NYSE DOW closed DOWN 15 points on Monday February 26:

Symbol ----- Last --- Change 
Dow 12,632.26  -15.22 (0.12%) 
Nasdaq 2,504.52  -10.58 (0.42%) 
S&P 500 1,449.37  -1.82 (0.13%) 
10-Yr Bond 4.6310%   -0.0470  
NYSE Volume 2,776,658,000 
Nasdaq Volume 1,912,450,000 

Market Update
http://finance.yahoo.com/marketupdate/overview
NT time: 4:20 pm
So much for kicking off a fresh new week on a positive note, as underlying worries about the pace of economic growth, valuation concerns, and a lack of key leadership offset a slate of encouraging M&A news.

Before the opening bell, it seemed as though the blue-chip indices would snap a three-day losing streak as investors initially applauded some Monday-morning deal making. 

TXU Corp. (TXU 67.97 +7.95) soared more than 13% to an all-time high after agreeing to be taken private for $45 bln (including debt). That qualified it as the largest private-equity deal ever.

Reports that Dow Chemical (DOW 44.99 +1.54) could get a leveraged buyout bid worth up to $54 bln in the next few weeks further underscored that there is still a lot of liquidity on the sidelines. However, since the latter deal has not been confirmed and the TXU deal merely prompted industry-wide takeover speculation in one of the S&P 500's least influential sectors (Utilities), investors weren't overly convinced that stocks as a whole remain attractively valued, especially after such an impressive run-up since bottoming out last July. 

As a reminder, the broader market has not retreated as much as 2% since the rally began, again leaving many to believe a correction or an extended consolidation period is long overdue.

Adding insult to injury, former Fed Chairman Alan Greenspan suggesting it is possible there could be a recession later this year left investors revisiting the historical significance of an inverted yield curve and its ability to precede U.S. economic downturns. Sure, bonds rallied for a second straight day, but the spread between the 2-year and 10-year notes slipping deeper into inversion (14 basis points) took an added toll on the rate-sensitive Financials sector.

Citigroup (C 52.68 -1.09) was the day's worst performing Dow component (-2.0%) and, as a heavily-weighted S&P 500 constituent, exacerbated sector weakness. While the brokers have been one of the leading groups in the recent bull market, the recent one-two punch of a technical break-down in the AMEX Securities Broker/Dealer Index and lingering concerns over subprime lending exposure also overshadowed the healthy M&A activity behind our Overweight rating on the financial sector.

Greenspan's comments, coupled with the N.A.B.E. predicting the slowest economic growth for the U.S. in five years and an expected downward revision to the originally reported 3.5% Q4 GDP number on Wednesday, also left valuations vulnerable in economically-sensitive areas like Consumer Discretionary, the day's worst performing S&P sector, Technology and Industrials. DJ30 -15.22 DJTA -2.4% DJUA +2.6% DOT -0.5% NASDAQ -10.58 NQ100 -0.5% R2K -0.4% SOX -0.1% SP400 -0.4% SP500 -1.82 XOI +0.4% NASDAQ Dec/Adv/Vol 1802/1219/1.89 bln NYSE Dec/Adv/Vol 1674/1616/1.50 bln


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## bigdog

The NYSE DOW closed DOWN 416 points (3.29%) on Tuesday February 27:

Symbol ----- Last --- Change 
Dow 12,216.24  416.02 (3.29%) 
Nasdaq 2,407.86  96.66 (3.86%) 
S&P 500 1,399.04  50.33 (3.47%) 
10-Yr Bond 4.5130%   0.1180  
NYSE Volume 4,064,326,000 
Nasdaq Volume 3,092,996,000 


http://biz.yahoo.com/ap/070227/wall_street.html?.v=73
Dow Drops 416 on Global Market Plunge
Tuesday February 27, 4:51 pm ET 
By Madlen Read, AP Business Writer  
Dow Finishes Down 416 at 12,216, Nasdaq Finishes Down 97 at 2,408 on Global Market Plunge 


NEW YORK (AP) -- Stocks had their worst day of trading since the Sept. 11, 2001, terrorist attacks Tuesday, briefly hurtling the Dow Jones industrials down more than 500 points on a worldwide tide of concern that the U.S. and Chinese economies are stumbling and that share prices have become overinflated.

The steepness of the market's drop, as well as its global breadth, signaled a possible correction after a long period of stable and steadily rising stock markets, which had not been shaken by such a volatile day of trading in several years.

A 9 percent slide in Chinese stocks, which came a day after investors sent Shanghai's benchmark index to a record high close, set the tone for U.S. trading. The Dow began the day falling sharply, and the decline accelerated throughout the course of the session before stocks took a huge plunge in late afternoon as computer-driven sell programs kicked in.

The Dow fell 546.02, or 4.3 percent, to 12,086.06 before recovering some ground in the last hour of trading to close down 416.02, or 3.29 percent, at 12,216.24, according to preliminary calculations. Because the worst of the plunge took place after 2:30 p.m., the New York Stock Exchange's trading limits, designed to halt such precipitous moves, were not activated.

The decline was the Dow's worst since Sept. 17, 2001, the first trading day after the terror attacks, when the blue chips closed down 684.81, or 7.13 percent.

The drop hit every sector of stocks across the market. Riskier issues such as small-cap and technology stocks suffered the biggest declines.

But analysts who have been expecting a pullback after a huge rally that began last October and sent the Dow to a series of record highs, were unfazed by Tuesday's drop.

"This corrective consolidation phase isn't just going to be one day, but we don't believe this is going to be a bear market," said Bob Doll, BlackRock's global chief investment officer of equities.

Some investors also tried to put Tuesday's slide into a longer-term perspective.

"All who invest should feel grateful that we've had a great run for the last 12 to 18 months," said Joel Kleinman, a Washington, D.C. attorney, adding that he has learned to not read too much into any short-term ups and downs. "This is another day in the market."

Still, traders' dwindling confidence was knocked down further by data showing that the economy may be decelerating more than anticipated. A Commerce Department report that orders for durable goods in January dropped by the largest amount in three months exacerbated jitters about the direction of the U.S. economy, just a day after former Federal Reserve Chairman Alan Greenspan said the United States may be headed for a recession.

"It looks more and more like the economy is a slow growth economy," said Michael Strauss, chief economist at Commonfund. "Moderate economic growth is good -- an abrupt stop in economic growth scares people."

The market had been expecting the government on Wednesday to revise its estimate of fourth-quarter GDP growth down to an annual rate of about 2.3 percent from an initial forecast of 3.5 percent, and grew increasingly nervous on Tuesday that the figure could come in even lower.

The housing market, which the Street had been hoping had bottomed out, also looked far from recovery after a Standard & Poor's index indicated that single-family home prices across the nation were flat in December. A later report from the National Association of Realtors said existing home sales climbed in January by the largest amount in two years, but the data didn't erase housing-related concerns, as median home prices fell for a sixth straight month.

But a growing feeling that Wall Street, which has had a big run-up since October, was due for a correction also played into Tuesday's decline.

"I think that the market was prepared to pull back. The constellation of issues that were worrying the market came to a head," said Quincy Krosby, chief investment strategist at The Hartford.

Just a week ago, the Dow had reached new closing and trading highs, rising as high as 12,795.92.

The broader Standard & Poor's 500 index was down 50.33, or 3.47 percent, at 1,399.04, and the tech-dominated Nasdaq composite index was off 96.65, or 3.86 percent, at 2,407.87.

A suicide bomber attack on the main U.S. military base in Afghanistan where Vice President Dick Cheney was visiting also rattled the market.

China's stock market plummeted Tuesday from record highs as investors took profits when concerns arose that the Chinese government may try to temper its ballooning economy by raising interest rates again or reducing more of the money available for lending.

"Corrections usually happen because of a catalyst, and this may be it," said Ed Peters, chief investment officer at PanAgora Asset Management. "The move in China was a surprise, and when a major market has a shock it ripples through the rest of the market. With all the trade that goes on with China, there tends to be a knee-jerk reaction with that kind of drop."

The Shanghai Composite Index tumbled 8.8 percent to close at 2,771.79, its biggest decline since it fell 8.9 percent on Feb. 18, 1997. Since Chinese share prices doubled last year as investors poured money into the market after the completion of shareholding reforms, trading in Shanghai has been very volatile.

Hong Kong's benchmark Hang Seng Index dropped 1.8 percent, and Malaysia's Kuala Lumpur Composite Index fell 2.8 percent. Japan's Nikkei stock average fell a more moderate 0.52 percent, but European markets were rattled -- Britain's FTSE 100 lost 2.31 percent, Germany's DAX index dropped 2.96 percent, and France's CAC-40 fell 3.02 percent.

Bond prices shot higher as investors bought into the safe-haven Treasury market, pushing the yield on the benchmark 10-year Treasury note down to 4.47 percent, its lowest level so far this year, from 4.63 percent late Monday. The bond buying was sparked primarily by the durable goods orders, which the Commerce Department said fell 7.8 percent, much more than what the market expected.

The durable goods drop raised the chance of the Federal Reserve easing interest rates later in the year -- a possibility that makes the bond market an attractive place to be right now.

The hope for slowing inflation could be dashed, though, if energy costs keep rising. Oil prices initially fell Tuesday on worries that Chinese demand could be dampened should its economy slow down, but later rose on escalating tensions in the Middle East. Light, sweet crude for April delivery fell 62 cents a barrel to $60.77 on the New York Mercantile Exchange.

The dollar slipped against other major currencies, while gold also fell.

The Dow has been climbing at a steady rate since last summer, but over the past few trading sessions, stocks have pulled back on the worry that the market is due for a correction. Many analysts have noted that the Dow hasn't seen a 2 percent decline in more than 120 sessions.

Data indicating a slower economy had recently been giving stocks a boost on the hopes that the Fed will lower interest rates, which could reinvigorate consumer spending and the struggling housing market. But the market may fall further before that happens, analysts said.

"If in a week or two, the psychology in the U.S. market turns to the realization that we're in a modest growth economy of 2 to 3 percent growth, that will help temper inflation pressures going forward. If that perception evolves, there's an increase in the likelihood that the Fed will be lowering rates rather than raising rates. Structurally, it's a development that should be good for the equity market, but it might be an event that unfolds after prices are lower," Strauss said.

Declining issues outnumbered advancers by about 7 to 1 on the New York Stock Exchange, where volume came to 2.38 billion shares.

The Russell 2000 index of smaller companies dropped 31.03, or 3.77 percent, at 792.66.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## noirua

Durable Goods Orders Plunge:  http://money.cnn.com/2007/02/27/news/economy/durable_goods.reut/index.htm?postversion=2007022708


----------



## bigdog

The NYSE DOW closed UP 52 points on Wednesday February 28:

Symbol ----- Last --- Change 
Dow 12,268.63  +52.39 (0.43%) 
Nasdaq 2,416.13  +8.27 (0.34%) 
S&P 500 1,406.82  +7.78 (0.56%) 
10-Yr Bond 4.5500%   +0.0370  
NYSE Volume 3,872,195,000 
Nasdaq Volume 

http://biz.yahoo.com/ap/070228/wall_street.html?.v=72
Stocks Rebound Fitfully After Selloff
Wednesday February 28, 4:30 pm ET NY time
By Tim Paradis, AP Business Writer  
Stocks Rebound Fitfully Following Bernanke Comments, Economic Data, Dow Gains 60 Pts 


NEW YORK (AP) -- Wall Street rebounded fitfully Wednesday from the previous session's 416-point plunge in the Dow industrials as investors took comfort from comments by Federal Reserve Chairman Ben Bernanke but still showed signs of unease about the economy.

Bernanke's remarks to Congress that he still expects moderate economic growth gave some investors confidence to look for bargains. A recovery in some overseas markets following a worldwide selloff Tuesday also lent some support to U.S stocks, but the advance lacked some conviction -- the major indexes fluctuated throughout the day, with the Dow rising as much as 137 points before pulling back and advancing again several times.

The Fed chairman allayed some of the fears about a slowdown in the U.S. and Chinese economies that fed Tuesday's drop; remarks earlier in the week from former Fed Chairman Alan Greenspan warning that a U.S. recession could take hold later this year contributed to Tuesday's declines.

Investors parsed a series of economic reports out Wednesday, hoping to glean a sense of where stocks were headed. Bernanke's comments and a gross domestic product reading that mostly met expectations helped bring out some buyers. Nevertheless, investors remained cautious and didn't rush headlong into stocks and discount the possibility of a further shakeout.

"It's typical that you get a bounceback the next day," said Joseph V. Battipaglia, chief investment officer at Ryan Beck & Co. "Now we're essentially flat on the year. Can we go up from here or down? That sorting-out process will continue now."

A recovery in China's Shanghai Composite Index, which had fallen nearly 9 percent Tuesday, also helped boost U.S. stocks, although other Asian markets and European exchanges saw declines of more than 1 percent.

Amid another heavy-volume day led the New York Stock Exchange to instruct specialists to keep their order books open longer than normal to catch any trades that might still be filtering through the system.

According to preliminary calculations, the Dow Jones industrials rose 52.39, or 0.43 percent, to 12,268.63.

Broader stock indicators also managed gains. The Standard & Poor's 500 index climbed 7.78, or 0.56 percent, to 1,406.82, and the Nasdaq composite index rose 8.27, or 0.34 percent, to 2,416.13.

Tuesday's decline, which was the largest point drop in the Dow industrials in more than five years, made February an unwelcome month for the 30-stock index. It marked the Dow's worst monthly percentage drop since April 2005 and the worst monthly point decline since December of 2002.

For the S&P, February was the worst point and percentage decline since May last year. And for Nasdaq, the month marked the worst percentage and point decline since July.

Bonds fell Wednesday as stocks tried to recoup some losses. The yield on the benchmark 10-year Treasury note rose to 4.56 percent from its low for the year of 4.47 percent late Tuesday.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude settled rose 33 cents to $61.79 a barrel on the New York Mercantile Exchange as investors brushed off concerns about falling demand from China.

The market took some solace from the Commerce Department report that the U.S. economy grew at an annual rate of 2.2 percent in the fourth quarter. The gross domestic product reading was slightly below expectations, but wasn't as weak as some investors had feared. The figure was more than a percentage point below the initial estimate of 3.5 percent made a month ago.

In other economic news, the National Association of Purchasing Management-Chicago index of business conditions in the Midwest showed a weaker-than-expected reading. The February figure fell to 47.9 from 48.8 in January. The report is often viewed as a bellwether for the Institute for Supply Management's index of manufacturing activity for February, which is due Thursday.

Also, a Commerce Department report found new-home sales fell by 16.6 percent in January from the previous month, the largest drop in 13 years.

"I thought on Monday and I think even more today that the stock market offers good value and that it will move higher for the year," said Ed Keon, chief investment strategist at Prudential Equity Group.

While some observers had warned that stocks had grown overvalued after the strong gains logged in 2006, Tuesday's pullback nonetheless came as a surprise on Wall Street, which had gone 45 months without a decline of more than 2 percent in single session.

In the bumpy trading that occurred Wednesday, particularly as fresh economic data emerged, investors appeared to be still calculating the ramifications of Tuesday's losses, which erased $632 billion in shareholder equity, according to Standard & Poor's.

In corporate news, Merck & Co. regained some ground after the drugmaker issued a first-quarter profit forecast that surpassed estimates of Wall Street analysts and raised its profit target for the year. The company rose 97 cents, or 2.3 percent, to $44.15.

Fremont General Corp. fell $2.84, or 24.4 percent, to $8.81 after the mortgage lender warned it would delay the release of its fourth-quarter report, which had been set for Wednesday. The company also plans to delay filing its annual report.

Most U.S.-listed Chinese companies recovered at least some of their huge losses from Tuesday. Internet company Baidu.com Inc. rose $1.94 to $106.70, while China Mobile Ltd. advanced $2.21, or 5 percent, to $46.37.

Sprint Nextel Corp. rose 85 cents, or 4.6 percent, to $19.30 after the nation's third largest wireless carrier said fourth-quarter profit rose 33 percent on stronger revenue.

While many sectors saw buyers sniffing for deals, homebuilders saw additional selling, due in large part to the Commerce Department report that new-home sales plunged in January by the largest amount in 13 years.

Toll Brothers Inc. fell 72 cents, or 2.4 percent, to $29.86, while KB Home fell 56 cents to $49.53.

Advancing issues outpaced decliners by about 2 to 1 on the New York Stock Exchange, where volume was a heavy 2.25 billion shares. Volume was lighter than the 2.38 billion seen at the same point Tuesday, however.

The Russell 2000 index of smaller companies rose 0.64, or 0.08 percent, to 793.30.

Overseas, Japan's Nikkei stock average fell 2.85 percent, while Hong Kong's Heng Seng index ended down 2.46 percent. The benchmark Shanghai Composite Index rose 3.94 percent. Britain's FTSE 100 closed down 1.82 percent, Germany's DAX index finished down 1.53 percent, and France's CAC-40 was down 1.29 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed DOWN 34 points on Thursday March 1:

Symbol ----- Last --- Change 
Dow 12,234.34  -34.29 (0.28%) 
Nasdaq 2,404.21  -11.94 (0.49%) 
S&P 500 1,403.17  -3.65 (0.26%)  
10-Yr Bond 4.56%   +0.01  
NYSE Volume 3,816,873,000 
Nasdaq Volume 2,711,250,000

http://biz.yahoo.com/ap/070301/wall_street.html?.v=85
Stocks Stage Comeback on Upbeat Data
Thursday March 1, 4:26 pm ET 
By Madlen Read, AP Business Writer  
Stocks Dip, Then Rebound on Upbeat Manufacturing Report 


NEW YORK (AP) -- A still skittish Wall Street closed modestly lower Thursday, having clawed its way back from an early-session plunge as upbeat manufacturing data allayed fears about a flagging U.S. economy.

The Dow Jones industrials ended 34 points lower after tumbling 209 points in early trading and then briefly reaching positive territory in the afternoon.

Investors, relieved that manufacturing is still expanding, bought some of the stocks pummeled in Tuesday's drop, which sliced 416 points off the Dow. The blue chip index is now down about 400 points, or 3.2 percent, from its closing level Monday, having rebounded halfheartedly Wednesday on calming words about the economy from Fed Chairman Ben Bernanke.

The Institute for Supply Management's index of February manufacturing activity came in at 52.3, stronger than the 50.0 reading analysts expected. The index is an important measure of a part of the economy that has given investors headaches in recent months. Manufacturing had contracted a month earlier, according to the index, suffering from the listless housing market and hard-up auto industry. A reading at 50 and above indicates expansion, while anything below 50 signals contraction.

The ISM data helped the market regain lost ground, but anxiety still plagued the Street, with the indexes bouncing around choppily as many investors bailed out of equities and fled to safe havens like Treasurys, betting that stocks could see a bigger correction.

"The aftermath of Tuesday's major selloff will linger for the next couple of days. I don't think we're totally out of the woods yet," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners Inc.

According to preliminary calculations, the Dow fell 34.29, or 0.28 percent, to 12,234.34, after dropping as low as 12,056.54 in the first hour of trading. It hasn't traded at these levels since early December.

Broader stock indicators also ended down after fluctuating in the afternoon. The Standard & Poor's 500 index fell 3.65, or 0.26 percent, at 1,403.17, after tumbling 26 points earlier in the day.

The technology-dominated Nasdaq composite index finished down 11.94, or 0.49 percent, at 2,404.21, following an earlier drop of 56 points.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Very bad news again

The NYSE DOW closed DOWN 120 points on Friday March 2:
Symbol ----- Last --- Change 
Dow 12,114.10  -120.24 (0.98%) 
Nasdaq 2,368.00  -36.21 (1.51%) 
S&P 500 1,387.17  -16.00 (1.14%) 
10-Yr Bond 4.5150%   -0.0410  
NYSE Volume 3,300,550,000 
Nasdaq Volume 2,360,056,000 

http://biz.yahoo.com/ap/070302/wall_street.html?.v=38
*Stocks Post Worst Week in Over 4 Years*
Friday March 2, 4:28 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Fall Amid Rise in Yen; Dow Posts Worst Performance in More Than 4 Years 


NEW YORK (AP) -- Stocks stumbled in the final session of a tumultuous week Friday as the yen rallied against the dollar and concerns about the U.S. economy still dogged investors after Tuesday's huge drop.

The Dow Jones industrials logged their worst weekly performance in more than four years; until this week, the stock market had gone more than 45 months without a drop of more than 2 percent in a single session.

The Dow, as it had Thursday, poked tentatively into positive territory Friday before retreating as the yen furthered its gains and investors failed to shake their unease.

Larger economic concerns such as the ascendent yen have dominated Wall Street for much of the week after Tuesday's worldwide selloff that sent the Dow down 416 points and rattled investor confidence about the state of the U.S. economy.

Neil Massa, senior trader at MFC Global Investment Management, said stocks wobbled Friday after the yen broke through a key resistance level of 116.80. The dollar fell 0.92 percent to 116.86 yen.

Concerns lingered about a decline in the yen carry trade, which refers to the process of borrowing yen to acquire assets with greater yields in other currencies. A slowdown could hurt liquidity worldwide. Concerns about Japanese interest rates also weighed on investors.

A well-received profit report from American International Group Inc. kept the Dow industrials from falling further Friday; the insurer and pharmaceutical company Merck & Co. were the only two advancers among the index's 30 stocks. Merck, which received a mixed verdict Friday in a trial over its former painkiller Vioxx, finished up 20 cents at $44.19.

According to preliminary calculations, the Dow fell 120.24, or 0.98 percent, to 12,114.10. The Dow has fallen seven of the last eight sessions.

Broader stock indicators also fell. The Standard & Poor's 500 index fell 16.00, or 1.14 percent, to 1,387.17 and the Nasdaq composite index slid 36.21, or 1.51 percent, to 2,368.00.

For the week, the Dow fell 3.3 percent, the S&P 500 lost 4.4 percent and the Nasdaq fell 5.9 percent. For the Dow and the S&P 500, it was their worst weekly performance since the week ended July 19, 2002. And for the Nasdaq, it was the poorest weekly showing since the week ended Sept. 21, 2001, the first week of trading after the 9/11 terror attacks.

Bond prices rose sharply as economic concerns lingered and raised hopes for an interest rate cut. The yield on the benchmark 10-year Treasury note fell to 4.51 percent from 4.55 percent late Thursday. The dollar was mixed against other major currencies, while gold prices fell sharply.

Light, sweet crude settled down 36 cents to $61.64 per barrel on the New York Mercantile Exchange after settling at a more than two month high Thursday.

"I think looking at the world economies as a whole it just seems like growth is slowing across the board, or at least that's the impression," he said.

Diane Dercher, chief economist at Waddell & Reed, said investors are trying to sort through the myriad signals the markets have given off this week.

"Fundamentally, I don't think a lot has changed this week and I think it's been more of a psychological re-evaluation of risk and a lot of this is focused around what's happened in the Asian markets," she said.

"There is a renewed focus on how weak the economy is going to be and the data that we've gotten this week have been very mixed and that just adds to confusion about how weak the economy is going to be," Dercher said.

Investors seemed somewhat cheered by the final Reuters/University of Michigan consumer sentiment reading for February, even as it fell to 91.3 from 96.9 from January. Earlier this week, the Conference Board said its own measure of consumer confidence reached a 5 1/2 year high.

With little of the economic data that has at turns boosted and deflated sentiment this week, investors again looked abroad for direction. Performance of overseas markets has taken on renewed importance this week after a nearly 9 percent drop in the Shanghai Composite Index helped touch off the worldwide selling and sent U.S. stocks reeling. The major U.S. indexes each lost more than 3 percent Tuesday, erasing $632 billion in shareholder equity, according to S&P.

St. Louis Federal Reserve President William Poole said in remarks prepared for a speech Friday in Santiago, Chile, that rising energy prices wouldn't necessarily lead to an economic slowdown if monetary policy were laid out carefully.

With trading less frenetic than in previous days, investors had some time to parse individual stocks as they looked for bargains.

AIG's fourth-quarter profit rose sharply from a year earlier when the world's largest insurer spent $1.64 billion to settle charges over its accounting practices. Profits were slightly below Wall Street's forecast though investors were likely pleased by the company's announcement it would repurchase $5 billion in stock in 2007. The company also is targeting a 20 percent annual increase in its dividend. AIG rose $2.13, or 3.2 percent, to $69.54.

Dell Inc. rose 17 cents to $23.18 after the computer maker's profit fell 33 percent amid weak laptop sales. While revenue fell more than expected, the overall results weren't as sour as some investors had feared.

Gap Inc. fell 63 cents, or 3.3 percent, to $18.40 after the company's fourth-quarter earnings dropped 35 percent amid problems that include its newest chain, which the company plans to close.

Declining issues outnumbered advancers by about 3 to 1 on the New York Stock Exchange, where volume came to 1.86 billion shares, compared with an unusually heavy 2.22 billion shares traded Thursday.

The Russell 2000 index of smaller companies fell 15.59, or 1.97 percent, to 775.44.

Overseas, Japan's Nikkei stock average closed down 1.35 percent, while the Shanghai Composite Index was up 1.23 percent and Hong Kong's Hang Seng index added 0.49 percent. Britain's FTSE 100 finished higher by less than 0.01 percent, Germany's DAX index fell 0.56 percent, and France's CAC-40 slid 0.62 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## vishalt

Many sharp falls indeed, metals really weren't effected much bar the Wednesday fall :/.


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## bean

Next Tuesday night watch the DOW and Nasdaq
Then wednesday when you look at your portfolio feel sick.
The DOW has to rise monday and start a rally


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## vishalt

I hope it goes to 11,800 and consolidates, more falls the better, aussie stocks are ridiculously expensive at the moment!


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## bean

IF IT GOES TO 11800 IT WON'T BE STOPPING ---IT NEEDS TO HAVE STOPPED ALREADY


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## bigdog

Bad news again

The NYSE DOW closed DOWN 63 points on Monday March 5:
Symbol ----- Last --- Change 
Dow 12,050.41  -63.69 (0.53%) 
Nasdaq 2,340.68  -27.32 (1.15%) 
S&P 500 1,374.12  -13.05 (0.94%)  
10-Yr Bond 4.5180%   +0.0030  
NYSE Volume 3,414,567,000 
Nasdaq Volume 2,351,026,000 

http://biz.yahoo.com/ap/070305/wall_street.html?.v=37
Dow Ends Down 64 After Erratic Session
Monday March 5, 4:45 pm ET 
By Madlen Read, AP Business Writer  
Dow Ends Down 64, Nasdaq Drops 27 After Erratic Session Amid Worries About Mortgage Defaults 


NEW YORK (AP) -- Wall Street seesawed through an erratic session Monday, trying to stabilize but ultimately finishing near its lows of the day amid worries about mortgage defaults, a strengthening yen and tumbling stock markets abroad.

The major indexes fluctuated throughout the session, with the Dow Jones industrials bobbing between positive and negative territory as investors tried to size up where the market was headed after last week's big decline. The Dow finished 63 points lower, having fallen in eight of the last nine sessions.

The market remained jittery about losses over soured subprime loans, or loans to customers with poor credit ratings, as HSBC Holdings PLC, Europe's largest bank, said its 2006 earnings rose 5 percent but that it suffered $10.6 billion in losses on bad loans from its U.S. subprime mortgage operations.

Also pushing stocks down, a rising yen added to concerns about an erosion of the yen carry trade, which is the process of borrowing the low-yielding yen to acquire assets in other currencies with greater yields. A slowdown could hurt liquidity worldwide. By late in the day, the U.S. dollar was at 116 yen, trading near three-month lows after falling from above 120 yen less than a week ago.

Though the markets were uneasy Monday, they were hardly out of control as the Dow traded within a 150-point range and stayed above the 12,000 mark, which it had surpassed for the first time in October last year.

"Stability is a good sign," said Todd Salamone, senior vice president of research at Schaeffer's Investment Research in Cincinnati. He noted that stocks could see volatility for months, but that over the long term, the market looks poised to climb. "Expectations for economic data, earnings data -- both have been ratcheted lower. Markets tend to do better when expectations are low, because they have better odds for positive surprises."

According to preliminary calculations, the Dow fell 63.69, or 0.53 percent, to 12,050.41, having swung 75 points lower and 75 higher than Friday's close in earlier trading.

Broader stock indicators also fell. The Standard & Poor's 500 index was down 13.05, or 0.94 percent, at 1,374.12, and the Nasdaq composite index -- which is dominated by riskier technology and small-cap stocks -- fell 27.32, or 1.15 percent, to 2,340.68.

Bond prices fell, nudging the yield on the benchmark 10-year Treasury note to 4.51 percent from 4.50 percent late Friday, as the stock market's tolerable performance earlier in the day kept investors from rushing to Treasurys.

The dollar was higher against other major currencies except for the yen. Gold, though traditionally a safe-haven investment, continued its slide.

Oil prices dropped sharply, but lifted from earlier lows below $60 a barrel to finish down $1.57 at $60.07 on the New York Mercentile Exchange.

The market's saw the bulk of its drop right before the close, in a similar pattern to Friday, when the Dow flirted with gains only to drop 120 points late in the day. Going forward, market participants won't be ruling out the possibility of a large, late-day swing.

"Probably it's better to save any judgment on this market today until the last half hour," said Philip S. Dow, managing director of equity strategy at RBC Dain Rauscher in Minneapolis, before the markets closed Monday. He noted that little has changed in terms of economic fundamentals, but that the market is very volatile.

Stock investors appeared to have been somewhat consoled by comments attributed to U.S. Treasury Secretary Henry Paulson by Japan's finance minister, Koji Omi. Neither Omi nor Paulson, who began a three-nation Asian tour in Tokyo on Monday, were concerned by the swings in regional stock markets, Omi told reporters in Tokyo. Both men contend the market mechanism was functioning well, Omi said.

Still, Asian and European stocks closed lower, keeping U.S. investors on edge. The Nikkei fell for the fifth straight session to close down 3.3 percent, Hong Kong's Hang Seng index fell 4 percent and the Shanghai Composite Index, which has been volatile in recent weeks, fell 1.6 percent.

In Europe, Britain's FTSE 100 dropped 0.94 percent, Germany's DAX index fell 1.04 percent, and France's CAC-40 declined 0.73 percent.

The Institute for Supply Management's report on the services sector failed to inject much confidence in the market. The index registered at 54.3 for February, lower than analysts' forecast of 57.5 and January's reading of 59.0. Still, the reading above 50 indicates that U.S. service industries continue to grow, albeit at a modest pace.

Market participants are bracing for a rocky week, especially as investors await the Labor Department's jobs report Friday. So far, economic data have been coming in mixed, suggesting a moderating growth but not recession.

"We saw the ISM come in lower than expected, but the economy is slowing, and that's fine," said Scott Wren, senior equity strategist for A.G. Edwards & Sons. The ISM said the service sector, which represents about 80 percent of the nation's economic activity, saw nine of its industries grow and nine contract.

St. Louis Fed President William Poole, a voting member of the interest rate-setting Federal Open Market Committee, echoed recent statements by Fed Chairman Ben Bernanke Monday, saying the economic outlook is not as dismal as the market's recent downturn suggests, and that inflation remains a concern for policy makers.

But companies involved with subprime mortgages, already dragged down by concerns that too many people are defaulting, were kicked down further when New Century Financial Corp., the second-largest subprime lender, said late Friday that a federal prosecutor and the New York Stock Exchange are conducting investigations into its stock movements. New Century fell $10.09, or 69 percent, to $4.56.

Also spooking investors was Fremont General Corp.'s announcement Monday that it is planning to sell its subprime residential real-estate lending business. Fremont fell $2.82, or 32.4 percent, to $5.89.

The burgeoning subprime worries also hurt banks and homebuilders Monday: National City Corp. and Washington Mutual Inc. fell more than 3 percent, while Toll Brothers Inc., D.R. Horton Inc., and Centex Corp. all lost more than 4 percent.

Declining issues outnumbered advancers by about 5 to 1 on the New York Stock Exchange, where volume came to 1.99 billion shares, compared to 1.86 billion shares at the same point on Friday.

The Russell 2000 index of smaller companies dropped 15.38, or 1.98 percent, at 760.06.

Though the markets have been tumbling, market watchers note that merger and acquisition activity is still strong -- a positive sign for stocks.

Pathmark Stores Inc. rose $1.21, or 10.8 percent, to $12.46 after A&P supermarket operator Great Atlantic & Pacific Tea Co. agreed to buy Pathmark for $1.3 billion in cash and stock. In an unusual move, investors bid Great Atlantic & Pacific higher; the stock was up $1.64, or 5.3 percent, at $32.50.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Great news overnight where the NYSE DOW closed UP 157 points (1.3%) on Tuesday March 6:

Symbol ----- Last --- Change 
Dow 12,207.59  +157.18 (1.30%) 
Nasdaq 2,385.14  +44.46 (1.90%) 
S&P 500 1,395.41  +21.29 (1.55%) 
10-Yr Bond 4.5280%   +0.0100  
NYSE Volume 3,294,077,000 
Nasdaq Volume 2,199,051,000 

http://biz.yahoo.com/ap/070306/wall_street.html?.v=46
Stocks Rise As World Markets Recover
Tuesday March 6, 4:50 pm ET 
By Joe Bel Bruno, AP Business Writer  
Wall Street Rebounds As Stocks Rise Overseas, Investors Wait to See if Gains Will Hold 


NEW YORK (AP) -- Wall Street rebounded Tuesday as investors were encouraged by a recovery on world markets and moved to recoup some of the big losses suffered in last week's sharp pullback. The Dow Jones industrials rose more than 150 points.

Investors came off the sidelines to buy stocks that have languished in five turbulent sessions. The Dow made back about 26 percent of the ground it lost over the past week, and scored its highest one-day point gain since July 24.

Despite the rebound, questions remained about whether the correction that has swept around the globe has truly run its course. U.S. investors were still contending with fundamental economic issues, including a weaker than expected reading on fourth-quarter productivity and the dollar's vulnerability against the yen.

The advance Tuesday treated Wall Street traders to what had become a rare sight -- the color green splashed across their computer screens that show stock prices, instead of last week's red. But, after being knocked about by erratic market shifts in recent sessions, there was still a sense this might not be the recovery everyone is waiting for.

"I don't think we should get too used to seeing all this green," said Jay Suskind, head trader at Ryan Beck & Co. "This market feels to me like it doesn't have legs, there just doesn't seem to be that euphoria out there. There is still trepidation."

According to preliminary calculations, the Dow rose 157.18, or 1.30 percent, to 12,207.59, after dropping 581 points over the past week. The Standard & Poor's 500 index was up 21.29, or 1.55 percent, at 1,395.41 in its biggest advance since July.

The Nasdaq composite index rose 44.46, or 1.90 percent, to 2,385.14. The tech-dominated index, which includes many companies consider young and risky compared to S&P 500 stocks, was particularly hard-hit in last week's slide. It was the best one-day advance since Oct. 4.

The Russell 2000 index of smaller companies was up 18.82, or 2.48 percent, at 778.88.

Advancing issues outnumbered decliners by about 5 to 3 on the New York Stock Exchange, where volume came to 1.83 billion shares.

Overseas, stock indexes posted healthy gains after plunging for the past week. According to the Dow Jones Wilshire Global Total Market Index, the world's markets had lost $3.1 trillion since Feb. 26 -- with $1 trillion coming from the U.S. alone.

Japan's Nikkei stock average closed up 1.22 percent Tuesday. At the close, Britain's FTSE 100 regained 1.32 percent, Germany's DAX index rose 0.92 percent, and France's CAC-40 was up 0.97 percent.

The gain in equities and lingering inflation worries sent prices falling in the bond market. The yield on the benchmark 10-year Treasury note rose to 4.53 percent from 4.51 percent on Monday.

The dollar was up versus the yen, but mixed against other major currencies, recovering after several days of steep declines. The rebound in global stock prices created renewed interest in yen-funded carry trades. Gold prices also rose.

Oil prices rose as strategists pointed to robust demand for gasoline and falling petroleum inventories. The price of a barrel of light sweet crude rose 60 cents to $60.67 on the New York Mercantile Exchange.

Tuesday's rebound was the first bit of light in a week for a volatile market. It also comes despite data that continued to show weakness in housing and production, and triggered some talk of inflation.

The Labor Department reported that worker productivity rose at a modest annual rate of 1.6 percent in the fourth quarter while wages and benefits soared. The Commerce Department said factory orders fell 5.6 percent in January after a 2.6 percent increase the previous month.

Scott Fullman, director of investment strategy for Israel A. Englander & Co., said the market wasn't shrugging off the pair of government reports. Instead, he believes investors have just had enough -- and that the sell-off was overdone.

"I'm not convinced the bull market is over, I just think the bull is tired and needs to take a break," he said. "There are opportunities out there so long as we don't see a major slip in the economy. We have to concentrate on that, how earnings are going to go, and obviously what the Fed does."

And there was no new indications on how policymakers feel about the future of interest rates, or the impact of inflationary pressures. Bernanke, during a speech in Hawaii, did not talk about rates in a prepared speech.

Instead, he became the latest public official to chime in about defaults and delinquencies in the mortgage industry. He urged Congress to bolster regulation of Fannie Mae and Freddie Mac, and suggested limiting their massive holdings to guard against any danger their debt poses to the overall economy.

Fannie Mae shares rose $1.71, or 3.2 percent, to $54.83, while Freddie Mac rose 75 cents to $62.11.

Financial stocks as a whole trended higher after being battered due to the market plunge. Treasury Secretary Henry Paulson said credit issues linked to the U.S. housing slump will be limited, easing concern about the potential of rising defaults in subprime loans.

Mortgage lender New Century Financial Corp., which shed almost 70 percent of its market value on Monday, rose 46 cents, or 10.1 percent, to $5.02. Fremont General Corp. added 89 cents, or 15.1 percent, to $6.78.

Citigroup Inc. rose $1.33, or 2.7 percent, to $50.58 after the biggest U.S. bank offered $10.8 billion to buy Japan's Nikko Cordial Corp. The deal would rank as the largest acquisition of a Japanese brokerage by a foreign company.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 15 points on Wednesday March 7:

Symbol ----- Last --- Change 
Dow 12,192.45  -15.14 (0.12%) 
Nasdaq 2,374.64  -10.50 (0.44%) 
S&P 500 1,391.97  -3.44 (0.25%) 
10-Yr Bond 4.4970%   -0.0310  
NYSE Volume 3,078,945,000 
Nasdaq Volume 2,035,482,000 

http://biz.yahoo.com/ap/070307/wall_street.html?.v=34
Stocks Edge Lower, Show More Stability
Wednesday March 7, 4:42 pm ET 
By Tim Paradis, AP Business Writer  
Stocks End Modestly Lower After Big Plunge, Partial Recovery, As Investors Weigh Economic Data 

NEW YORK (AP) -- Stocks fell slightly but showed more signs of stability Wednesday as investors sifted through new economic data and found little reason to resume last week's heavy selling pace.

The stock indexes wavered in a narrow range, reacting little to comments from Chicago Fed President Michael Moskow that inflation remains stubborn and that interest rate increases might be needed to contain costs. The stock market was similarly unimpressed by data showing a weaker jobs picture and sluggishness in some areas of the country.

Investors in the past week have harbored concerns about a global economic slowdown and have been looking at data to try to determine whether the U.S. economy is still capable of pulling off a soft landing.

In late trading, after drifting higher for most of the afternoon, stocks turned lower again, unable to build on the rally made a day earlier. Tuesday's advance was strong -- the Dow Jones industrials made up about 26 percent of the losses they suffered in the previous week -- but it left investors wondering whether recent volatility that had been absent the markets in recent months would subside long enough to allow Wall Street to build some consensus about where stocks were headed.

Wednesday's trading, though, was reassuring. Volume levels were more typical of everyday trading than the big numbers Wall Street posted for much of the last week.

"The market is stabilizing after the storm of last week. That's real progress. It's extremely welcome. It allows us to restore investor confidence," said Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors.

According to preliminary calculations, the Dow Jones industrial average fell 15.14, or 0.12 percent, to 12,192.45. The Dow traded within a 78-point range Wednesday, a much narrower band than in recent sessions.

Broader stock indicators also edged lower. The Standard & Poor's 500 index fell 3.44, or 0.25 percent, to 1,391.97, and the Nasdaq composite index declined 10.50, or 0.44 percent, to 2,374.64.

Bonds got a lift from the Federal Reserve survey, which said most parts of the country saw modest economic growth in the past month, but many areas saw slowing. The yield on the benchmark 10-year Treasury note fell to 4.50 percent from 4.53 percent late Tuesday.

The dollar was mixed against other currencies, while gold prices rose.

Light, sweet crude rose $1.13 to settle at $61.82 a barrel on the New York Mercantile Exchange after weekly domestic inventory data showed a surprise draw on stocks. The energy market rally drove up stocks of oil companies; Chevron Corp. rose 66 cents to $68.33; Exxon Mobil Corp. rose 64 cents to $71.64; and ConocoPhillips climbed $1.34, or 2 percent, to $67.16.

Overseas markets, which have influenced U.S. trading over the past week, finished mixed and contributed to Wall Street's uncertainty.

Wall Street also found little inspiration from the Fed's survey, and shrugged off the ADP National Employment Report, which found private sector employment rose by 57,000 jobs in February, the weakest reading since July 2003. The findings arrived before Labor Department's employment report Friday, which investors will be closely watching to help gauge the health of the U.S. economy's lifeblood: its consumers.

Overall, though, there's no sense of panic in the markets, especially given Wednesday's mild trading.

"I think stocks have seen the bulk of the declines. I think we will in the next couple of months or so be testing highs," said Steven Goldman, chief market strategist at Weeden & Co.

In corporate news, CV Therapeutics Inc. fell $2.92, or 24 percent, to $9.38 after the drug maker said its only approved drug failed to show adequate improvement over a placebo at treating heart disease.

Friendly Ice Cream Corp. jumped $1.95, or 16 percent, to $13.79 after the restaurant chain said it would consider putting itself up for sale and that it turned a profit in the fourth quarter.

Saks Inc.'s same-store sales -- or sales at stores open at least a year -- jumped 24.7 percent in February as the department store chain saw higher sales of full-price merchandise. The stock rose $1.08, or 5.8 percent, to $19.82.

BJ's Wholesale Club Inc. rose 63 cents, or 2 percent, to $31.53 after the wholesale store chain's fiscal fourth-quarter profit fell 77 percent amid restructuring costs. Results were stronger than expected.

Conseco Inc., the life and health insurer, fell 91 cents, or 4.6 percent, to $18.75, after it swung to a fourth-quarter loss amid higher expenses. The company also said it won't offer financial forecasts until it irons out problems in its business.

Advancing issues and decliners were virtually equal on the New York Stock Exchange, where volume came to 1.71 billion shares, down from 1.83 billion Tuesday.

The Russell 2000 index of smaller companies fell 2.98, or 0.38 percent, to 775.90.

Overseas, Japan's Nikkei stock average closed down 0.47 percent, Hong Kong's Hang Seng index fell 0.73 percent, the Shanghai Composite Index, which helped trigger last week's selloff when it fell nearly 9 percent in single session, rose 1.99 percent. Britain's FTSE 100 closed up 0.29 percent, Germany's DAX index added 0.34 percent, and France's CAC-40 advanced 0.33 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## explod

All looking a bit dodgy on the Wall Street close to me.  Notice on the 6 month daily chart for DJIA rising from about Nov. last year you will see what I call the birdflock line to the drop and the the first wing of the new sideways is inverted.  Similar will be seen on the NYSE and NASDAQ charts and there is some correlation with the volume as well.   Does not look good IMHO.

regards explod

wealth to all.


----------



## bigdog

VG news today

The NYSE DOW closed HIGHER by 68 points on Thursday March 8:

Symbol ----- Last --- Change 
Dow 12,260.70  +68.25 (0.56%) 
Nasdaq 2,387.73  +13.09 (0.55%) 
S&P 500 1,401.89  +9.92 +(0.71%)  
10-Yr Bond 4.5090%   0.0120 
NYSE Volume 2,989,463,000 
Nasdaq Volume 1,989,945,000 

http://biz.yahoo.com/ap/070308/wall_street.html?.v=35
Stocks Recover As Economy Worries Ease
Thursday March 8, 4:32 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Climb As Signs of Stability Cross Global Markets; Dow Rises 100 Points Before Pullback 


NEW YORK (AP) -- Wall Street extended its recovery from last week's big plunge, rising Thursday after several stable sessions helped buttress investor sentiment and allay some concerns about the economy.

Thursday's advance helped investors speed past lackluster retail sales figures and focus on more promising comments about March sales. Investors also grew more confident following gains in markets in Europe and Asia. The dollar was mixed against major currencies and fought its way higher against the yen, easing some concern about whether global liquidity would tighten.

Investors eager for signals about the health of the economy bet on rising fortunes for U.S. businesses a day ahead of the Labor Department's much-anticipated February employment report. Strong employment is seen as crucial on Wall Street because robust consumer spending has kept the economy charging ahead in recent years. Larger concerns about the economy figured heavily in last week's selloff.

"I think we got a little bit too negative too fast," said Brian Levitt, corporate economist at OppenheimerFunds Inc., referring to the Feb. 27 global selloff that sent the major U.S. indexes down more than 3 percent. "They failed to see the broader picture that there still is fairly good underlying strength in the economy."

The Dow Jones industrials were up more than 100 points in afternoon trading before pulling back amid rumors a subprime lender would declare bankruptcy. According to preliminary calculations, the Dow closed up 68.25, or 0.56 percent, at 12,260.70.

Lender New Century Financial Corp. announced after the markets closed that it would no longer be accepting loan applications, and that it secured $265 million in financing to help it meet financial obligations.

Broader stock indicators also put up sizable gains Thursday. The Standard & Poor's 500 index climbed 9.92, or 0.71 percent, to 1,401.89, and the Nasdaq composite index advanced 13.09, or 0.55 percent, to 2,387.73.

Bonds fell as stocks advanced; the yield on the benchmark 10-year Treasury note rose to 4.51 percent from 4.50 percent late Wednesday. Gold prices rose.

Light, sweet crude fell 18 cents to $61.64 per barrel on the New York Mercantile Exchange.

The focus on broader market sentiment and the impending February employment report overshadowed word from the Labor Department that the number of newly laid-off workers seeking unemployment benefits fell last week to the lowest level in a month.

Unlike last week, news from overseas provided little headwind to U.S. stocks. On Thursday, the European Central Bank raised interest rates by a quarter point, as expected, and the Bank of England left rates unchanged. Turbulence in stock markets worldwide last week gave a sense that Wall Street, London and financial capitals in Asia were essentially one big trading floor -- stocks seemed to move in tandem over concerns about whether the global economy would begin to sputter.

Investors should remain vigilant, Levitt says.

"I think we are still going to see some volatility. Investors need to focus on keeping the risks in their portfolio in check. There are good opportunities around the world but certainly it is a good time to think about quality."

The major indexes did show some volatility on speculation New Century would make some kind of announcement. The stock, which dropped below a 52-week low of $3.94 to as low as $3.37 before rebounding somewhat, fell $1.20, or 23.2 percent, to $3.96.

Larry Peruzzi, senior equity trader at The Boston Company Asset Management, said there are fears in the market that mortgage lenders might face bankruptcy.

"This is one of the fears that has kind of been overhanging the market with this whole subprime real estate concern," he said.

Nonetheless, investors seemed able to look past some unpleasant news from retailers. Wal-Mart's same-store sales, or sales at stores open at least a year, rose a lower-than-expected 0.9 percent in February. Wall Street had been looking for sales at the world's largest retailer, which has lately shown some difficulty boosting its monthly numbers, to increase 1.5 percent. Wal-Mart, one of the 30 stocks that comprise the Dow industrials, fell 11 cents to $47.82.

Nordstrom rose $2.31, or 4.6 percent, to $52.73 after its February same-store sales jumped 9.1 percent, well above the 5.7 percent increase predicted by a Thomson Financial poll of analysts.

Same-store sales are a key measure of a retailer's performance and a strong report Wednesday luxury department store chain Saks Inc. fanned Wall Street's expectations for Saks' competitors. Saks, after rising Wednesday, advanced 10 cents to $19.92. March, with the Easter holiday, will likely prove to be a more important month for retailers.

Hollis-Eden Pharmaceuticals Inc. fell $1.38, or 32.2 percent, to $2.90 after the U.S. government rejected the biotech drug developer's radiation sickness treatment.

Express Scripts Inc. rose $1.20 to $75.97 after raising its hostile bid for Caremark Rx Inc., which is in the sights of retail pharmacy chain CVS Corp. Caremark advanced 48 cents to $61.78.

Advancing issues outnumbered decliners by 3 to 1 on the New York Stock Exchange, where volume came to 1.65 billion shares.

The Russell 2000 index of smaller companies rose 5.24, or 0.68 percent, to 781.14.

Overseas, the Nikkei rose 1.94 percent, Hong Kong's Hang Seng Index added 1.36 percent and the sometimes-volatile Shanghai Composite Exchange rose 1.08 percent. It was a nearly 9 percent drop in Shanghai on Feb. 27 that helped ignite a worldwide spasm of selling that led major U.S. indexes to give back their gains for the year.

In Europe, stocks added to gains after the U.S. markets advanced. Britain's FTSE 100 closed up 1.16 percent, Germany's DAX index added 1.44 percent, and France's CAC-40 advanced 1.27 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 15 points on Friday March 9:

Symbol ----- Last --- Change 
Dow 12,276.32  +15.62 (0.13%)  
Nasdaq 2,387.55  -0.18 (0.01%)  
S&P 500 1,402.85  +0.96 (0.07%) 
10-Yr Bond 4.5890%   +0.0800  
NYSE Volume 2,610,857,000 
Nasdaq Volume 1,944,252,000 

http://biz.yahoo.com/ap/070309/wall_street.html?.v=46
Stocks End Mixed Despite Jobs Report
Friday March 9, 4:43 pm ET 
By Joe Bel Bruno, AP Business Writer  
Wall Street Is Mixed Despite Strong Jobs Report in Jittery Trading 


NEW YORK (AP) -- Wall Street closed out the week with a mixed performance Friday, showing more stability after its recent plunge but also revealing lingering signs of nervousness despite an upbeat report on employment.

The positive jobs data gave stocks a boost, but the gains were eroded by a jump in wholesale inventories and more evidence of subprime mortgage problems. Lending worries were a big factor in the market's drop.

The Labor Department said that in February, the unemployment rate fell to 4.5 percent from 4.6 percent in February, U.S. employers added 97,000 nonfarm workers, and wages rose. But the Commerce Department's report of a 0.7 percent increase in wholesale inventories in January pointed to a drop in demand and possible economic weakness.

Investors were also uninspired by speeches by Federal Reserve officials in the afternoon. Susan Bies, an outgoing member of the Fed's rate-setting committee, said the economy is strong and job creation is "incredible," but that the troubles with the subprime lending market could escalate. Meanwhile, the Fed's main hawk, Jeffrey Lacker, said that inflation expectations aren't anchored enough.

Strength in the job market did help calm investors who feared that the economy might slow too abruptly, but it didn't erase the skittishness in the market, which last week had its worst week in four years.

"Generally, most people are still concerned that this downdraft is not over," said Doug Johnston, head of U.S. trading at Canaccord Adams in Boston. He said that while most economic data and corporate earnings have shown decent growth, investors are still spooked after last week's dive. "The marketplace itself is an emotional animal."

According to preliminary calculations, the Dow Jones industrial average rose 15.62, or 0.13 percent, to 12,276.32, after trading in both positive and negative territory over the course of the day.

Broader stock indicators were mixed. The Standard & Poor's 500 index rose 0.96, or 0.07 percent, at 1,402.85, while the technology-dominated Nasdaq composite index fell 0.18, or 0.01 percent, to 2,387.55.

Advancing issues held a 3 to 2 advantage over decliners on the New York Stock Exchange.

Treasury bond prices fell sharply, as the jobs report made it more unlikely the Federal Reserve would lower rates. Though the report was slightly weaker than expected, bond investors had been positioned for an even softer number. The yield on the benchmark 10-year Treasury note shot up to 4.59 percent from 4.51 percent late Thursday.

Also supporting stocks Friday was a Commerce Department report that the trade deficit narrowed slightly in January as U.S. exports rose to an all-time high while imports dropped. This sent a good signal that the nation's trade imbalances may finally start to improve this year.

Friday's data, though it didn't fuel large gains, calmed the markets enough to stick to a relatively narrow range. Friday's directionless trading capped a volatile week that saw the Dow drop near the 12,000 mark on Monday, then rally back as global stock markets recovered. The Dow is up 0.13 percent on the week; the S&P 500 is up 1.13 percent; and the Nasdaq is up 0.83 percent.

"It was a good comeback. Let's see what other economic data comes out, as the days and weeks go by," said Stephen Carl, principal and head of equity trading at The Williams Capital Group. "Barring anything out of the ordinary, I think the market's going to hang in there OK."

If next week's inflation data comes in high, however, it might reduce the chance that the Fed will lower rates later in the year, and may even raise the chance of a rate hike -- a move that could hurt stocks.

"It's turning back into a 'What's the Fed going to do?' kind of game," said Scott Merritt, U.S. equity strategist at JPMorgan Asset Management.

The market is also still dogged by troubles for subprime lenders, who lend money to people with poor credit ratings. Worries about rising defaults have led some financial backers to avoid the market, and Fed governor Bies said the problems are narrow now, but may just be starting.

One of the struggling lenders has been New Century Financial Corp., which plunged 66 cents, or 17 percent, to $3.21. The subprime lender announced late Thursday it will stop accepting loan applications as some of its financial backers refused to provide access to financing.

Other companies involved in subprime lending fell, too; Fremont General Corp. dropped 31 cents, or 3.7 percent, to $8.03, while Novastar Financial Inc. fell 17 cents, or 3.1 percent, to $5.24.

Homebuilders also weakened, in light of the subprime mortgage concerns and Hovnanian Enterprises Inc.'s financial results late Thursday. The company swung to a loss in the first quarter, signaling that the sluggishness in the housing market is far from over. Hovnanian fell $1.26, or 4.1 percent, to $29.34.

Meanwhile, Yahoo Inc. tumbled $1.59, or 5.2 percent, to $29.12 after a report said AT&T Inc. wants to scale back its partnership with the Web portal. The move could cut $200 million to $250 million a year for Yahoo, according to The Wall Street Journal.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where volume came to 1.44 billion shares, down from 1.65 billion shares at the same point on Thursday.

The Russell 2000 index of smaller companies was up 3.98, or 0.51 percent, at 785.12.

With little energy-related news to trade on, oil prices dropped as traders took profits ahead of the weekend. Light, sweet crude fell $1.59 to $60.05 a barrel on the New York Mercantile Exchange.

Gold prices slipped, while the dollar rose against the euro and the yen.

Overseas, Japan's Nikkei stock average closed up 0.43 percent and China's Shanghai Composite Index gained 0.3 percent. Britain's FTSE 100 was up 0.28 percent, Germany's DAX index rose 0.05 percent, and France's CAC-40 climbed 0.25 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

VG news overbight

The NYSE DOW closed HIGHER by 42 points on Monday March 12:

Symbol ----- Last --- Change 
Dow 12,318.62  +42.30 (0.34%) 
Nasdaq 2,402.29  +14.74 (0.62%) 
S&P 500 1,406.60  +3.75 (0.27%)  
10-Yr Bond 4.5530%   -0.0360  
NYSE Volume 2,723,232,000 
Nasdaq Volume 1,663,945,000

http://biz.yahoo.com/ap/070312/wall_street.html?.v=42
Stocks Close Higher Amid Merger Deals
Monday March 12, 5:41 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Close Higher As Investors Look Past Subprime Lender Woes 


NEW YORK (AP) -- Wall Street's recovery from last month's plunge gained momentum Monday, with stocks rising as investors looked past widening cracks in the subprime lending sector and bought in response to another parade of acquisition deals.

New Century Financial Corp.'s warning that its lenders had suspended financing initially overshadowed acquisition news involving companies such as Dollar General Corp. and Schering-Plough Inc. Investors have dealt with concerns that a blowup among companies making loans to consumers with poor credit could spill into other industries.

"The market actually has handled the cutoff by financing arms to New Century in a fairly decent way," said Frederic Dickson, market strategist and director of retail research at D.A. Davidson & Co. "While there are some subprime jitters it hasn't spilled broadly either into the financial sector or across the entire market."

He said investors appeared to grow emboldened by the merger deals announced Monday. Technology shares also received a boost ahead of a midquarter update from Texas Instruments Inc., which tightened its financial targets after the closing bell Monday.

The Dow Jones industrial average rose 42.30, or 0.34 percent, to 12,318.62.

Broader stock indicators also rose. The Standard & Poor's 500 index advanced 3.75, or 0.27 percent, to 1,406.60, and the Nasdaq composite index rose 14.74, or 0.62 percent, to 2,402.29.

Bonds rose amid concerns about subprime lenders; the yield on the benchmark 10-year Treasury note fell to 4.56 percent from 4.59 percent late Friday. The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude settled down $1.14 to $58.91 per barrel on the New York Mercantile Exchange.

Monday's trading saw the low volatility that has characterized much of the last eight months. Many sessions since the worldwide selloff that began Feb. 27 have seen much more choppiness as investors hunted for signs of where the market was headed, but Monday's trading perhaps reflected a further sense that Wall Street had regained its footing. Investors will be looking to economic data due this week on retail sales and inflation and at earnings news as brokerages announce results.

The day's buyout news offered support for stocks amid the din over subprime lenders. The concerns about the subprime sector followed a relatively successful week on Wall Street. Stocks etched out gains last week U.S. and overseas markets managed to regain some sense of stability following the sharp pullback late last month. Concerns about subprime lenders remained still weighed on investors.

New Century Financial Corp. warned Monday in a filing with the Securities and Exchange Commission that all its lenders had cut off short-term funding or announced plans to do so after the subprime mortgage lender wasn't able to make payments. New Century, which relies on short-term borrowings to finance mortgage loan originations and purchases, said it would need about $8.4 billion should it be forced to repurchase all outstanding mortgage loans. The company said it doesn't have sufficient liquidity to meet its obligations for repurchasing mortgages.

Trading in New Century shares remained halted with news pending for the entire session Monday. The New York Stock Exchange said it is reviewing the listing status of New Century shares.

Other subprime lenders fell sharply. Fremont General fell $1.30, or 16.2 percent, to $6.73, while Novastar Financial Inc. fell $1, or 19.1 percent, to $4.24.

Homebuilders also fell in part amid concerns that tightening credit standards would make it harder for consumers with lower incomes or spotty credit to purchase homes. Hovnanian Enterprises Inc. fell $1.75, or 6 percent, to $27.59, while Pulte Homes Inc. fell $1.38, or 4.8 percent, to $27.38.

In other corporate news, word that private-equity company Kohlberg Kravis Roberts & Co. struck a deal to acquire Dollar General for about $6.87 billion sent the discount retailer sharply higher. Dollar General jumped $4.29, or 25.6 percent, to $21.07 -- well past the stock's 52-week high of $18.32.

Schering-Plough fell rose 10 cents to $23.95 after agreeing to purchase the Organon BioSciences BV pharmaceuticals business of Akzo Nobel NV, the Dutch maker of chemicals and coatings, for $14.5 billion. Akzo climbed $10.02, or 16.5 percent, to $70.83.

Health insurer UnitedHealth Group Inc. announced plans to acquire Sierra Health Services Inc., which provides health care services, for about $2.6 billion. Sierra Health rose $5.67, or 15.8 percent, to $41.57, while UnitedHealth advanced 27 cents to $53.27.

Procter & Gamble Co., the consumer products company, said it struck a deal to sell its Western European tissue and towel business to SCA, which makes paper and other products, for about $671.9 million. P&G, one of the 30 stocks that makes up the Dow industrials, fell 7 cents to $62.09.

Advancing issues outnumbered decliners by about 2 to 1 on the NYSE, where volume came to 2.62 billion shares, compared with 2.59 billion shares billion Friday.

The Russell 2000 index of smaller companies rose 3.88, or 0.49 percent, to 789.00.

Overseas, Japan's Nikkei stock average rose 0.75 percent, Hong Kong's Hang Seng index added 1.61 percent and the Shanghai Composite Index added 0.58 percent. Britain's FTSE 100 closed down 0.19 percent, Germany's DAX index fell 0.02 percent, and France's CAC-40 fell 0.75 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Dow Plummets 243 to 12,076, Nasdaq Falls 52 to 2,351 on Rising Concerns About Subprime Lenders 

The NYSE DOW closed LOWER by 242 points on Tuesday March 13:

Will be interesting at 10:00 AM today!!!

Symbol ----- Last --- Change 
Dow 12,075.96  -242.66 (1.97%) 
Nasdaq 2,350.57  -51.72 (2.15%) 
S&P 500 1,377.95  -28.65 (2.04%) 
10-Yr Bond 4.4950%   -0.0580  
NYSE Volume 3,485,568,000 
Nasdaq Volume 2,268,766,000 


http://biz.yahoo.com/ap/070313/wall_street.html?.v=42
*Stocks Plummet on Subprime Lender Woes*Tuesday March 13, 5:47 pm ET 
By Madlen Read, AP Business Writer  
*Dow Plummets 243 to 12,076, Nasdaq Falls 52 to 2,351 on Rising Concerns About Subprime Lenders * 

NEW YORK (AP) -- Stocks plunged Tuesday, driving the Dow Jones industrials down more than 240 points to their second-biggest drop in almost four years, as troubles piled up for subprime lenders.  Investors, bracing for a wilting economy, fled the already deflated subprime mortgage sector on more news that lenders New Century Financial Corp., Accredited Home Lenders Holding Co. and General Motors Acceptance Corp.'s residential unit are facing financial problems. The Mortgage Bankers Association bolstered the belief that the struggles are widespread after it said new foreclosures surged to an all-time high in the last quarter of 2006.

All three major stock indexes were knocked down about 2 percent.

"The market's still jittery, and they're starting to get full-blown concerns over a bleed in the larger subprime mortgage market," said Matt Kelmon, portfolio manager of the Kelmoore Strategy Funds.

Subprime lenders provide mortgages to people with poor credit. Though they are a relatively small part of the U.S. economy, their difficulties raise larger concerns about the housing market, which until its slowdown in recent years was a big source of money for consumers. That, coupled with the Commerce Department's report Tuesday that U.S. retailers eked out a meager 0.1 percent rise in sales last month, led Wall Street to reconsider whether Americans' buying power will withstand an economic slowdown.

Tuesday's selloff was accentuated by options expiring soon and by volatility that has increased since the market's big plunge on Feb. 27 -- a 416-point drop in the Dow that was caused partially by the escalating distress among subprime lenders.

The Dow fell 242.66, or 1.97 percent, to 12,075.96. On March 24, 2003 the index dropped 307 points when U.S. casualties began mounting in Iraq.

The blue chip index is now down about 710 points, more than 5 percent, from its record close reached Feb. 20. Many market watchers suspect that the market's correction is not over.

The Dow is still above the low for the year of 12,050.41 reached March 5 and has yet to slip below the 12,000 level, which it reached for the first time last October.

Broader stock indicators also fell by their largest amounts in two weeks. The Standard & Poor's 500 index fell 28.65, or 2.04 percent, to 1,377.95, and the Nasdaq composite index slid 51.72, or 2.15 percent, to 2,350.57.

Volume on the New York Stock Exchange, where declining issues outnumbered advancers by 5 to 1, was high at 1.96 billion shares -- more than the 1.47 billion shares at the same point on Monday but lower than the 2.38 billion shares traded on Feb. 27, when the Dow took its largest plunge since 2001.

Trading collars were triggered Tuesday afternoon when the New York Stock Exchange Composite index lost more than 180 points. The collars put a chokehold on certain orders, forbidding transactions that capitalize on discrepancies in prices.

Subprime lending jitters and sluggish retail sales drove up bond prices. The yield on the benchmark 10-year Treasury note fell to 4.50 percent from 4.56 percent late Monday.

Gold prices fell, and the dollar was lower against most major currencies. A drop in the dollar versus the yen renewed anxiety about traders unwinding their yen "carry trades," or taking money out of high-yielding dollar assets bought with the low-yielding yen.

The subprime worries have been mounting for weeks now, but came to a head when the New York Stock Exchange took steps to delist shares of New Century, which said Tuesday that the Securities and Exchange Commission would be probing accounting errors that inflated its loan portfolio.

"Investors are poking around to see how much rotted wood there is here," said Jack Ablin, chief investment officer for Harris Private Bank. "It looks like the notion was subprime was contained, and now we're starting to see that maybe this problem has moved into other areas of the market. That's causing investors great concern."

Accredited Home contributed to the anxiety after it said it is in need of cash. Its shares plunged $7.43, or 65 percent, to $3.97.

Wall Street sold off further when the Mortgage Bankers Association's quarterly report on the mortgage market seemed to confirm investors' worries that the entire sector is floundering and could weaken further: not only did new foreclosures hit a record high in the fourth quarter of last year, but late mortgage payments soared to a 3 1/2-year high.

Late in the session, General Motors Acceptance Corp. -- General Motors Corp.'s part-owned financing arm -- reported that its fourth-quarter profit rose, but struggles in its Residential Capital LLC unit were eating into earnings. That news gave investors extra motivation to sell.

"The fear index is rising," said Steven Cochrane, senior managing director for Moody's Economy.com. "(Subprime mortgages) are our No. 1 concern right now."

That anxiety hit stocks of homebuilders, as lending obstacles could further cripple the lagging housing market. D.R. Horton Inc. fell 86 cents, or 3.7 percent, to $22.31; Centex Corp. lost $2.15, or 4.8 percent, to $42.76; and Toll Brothers Inc. dropped 67 cents, or 2.4 percent, to $27.34.

Investors trying to gauge how far problems in the subprime sector have spread pounced on comments from Goldman Sachs Group Inc. The investment bank said that while the subprime sector showed "significant weakness," the broader credit environment "remained strong." Goldman Sachs fell $3.57 to $199.03, despite record first-quarter profit thanks to strong revenue from trading and investment banking.

Government data on Tuesday suggested that consumer spending might be getting crimped. The Commerce Department said sales at U.S. retailers rose 0.1 percent in February as wintry weather in much of the country kept shoppers away from stores. Investors had expected an increase of 0.3 percent from January.

"I think a big question mark on this is how much of this is weather-related," said Rob Lutts, chief investment officer at Cabot Money Management. "We had two or three days during the month which knocked out activity. ... I think it is causing a little bit of alarm short-term."

Several retailers stumbled following the Commerce Department's report. Federated Department Stores Inc., parent of Macy's and Bloomingdale's, fell 85 cents to $44.09; Wal-Mart Stores Inc. slid $1.08, or 2.3 percent, to $46.18; and Target Corp. fell $1.76, or 2.8 percent, to $60.47.

Traders now await the producer and consumer price indexes, scheduled to be released Thursday and Friday, respectively. The two inflation gauges should give investors a better idea of whether costs are escalating too fast, and if the Federal Reserve might give consumers some relief by lowering interest rates later in the year.

Of the Dow's 30 blue chip stocks, the only gainer was AT&T Corp., which rose 20 cents to $37.26.

The Russell 2000 index of smaller companies fell 19.88, or 2.52 percent, to 769.12.

Overseas, Japan's Nikkei stock average fell 0.66 percent. Britain's FTSE 100 fell 1.16 percent, Germany's DAX index fell 1.36 percent, and France's CAC-40 fell 1.15 percent.

Light, sweet crude fell 98 cents to settle at $57.93 per barrel on the New York Mercantile Exchange.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

*The NYSE DOW closed HIGHER by 57 points on Wednesday March 14:*

Symbol ----- Last --- Change 
Dow 12,133.40  +57.44 (0.48%) 
Nasdaq 2,371.74  +21.17 (0.90%) 
S&P 500 1,387.17  +9.22 (0.67%) 
10-Yr Bond 4.5220%   +0.0270  
NYSE Volume 3,726,059,000 
Nasdaq Volume 2,301,636,000

http://biz.yahoo.com/ap/070314/wall_street.html?.v=42
*The Dow Goes Below 12,000, Then Recovers*
Wednesday March 14, 4:39 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks Bounce Around, Briefly Taking Dow Below 12,000 As Investors Worry About Mortgages * 

NEW YORK (AP) -- Wall Street gyrated and then steadied itself Wednesday, closing with a respectable advance although the Dow Jones industrials fell as much as 136 points and briefly dropped below the 12,000 mark before recovering.

Stocks bounced back and forth a day after concerns about faltering subprime mortgage lenders sparked a broad selloff. H&R Block Inc. had added to Wall Street's uneasiness by announcing after the closing bell Tuesday its fiscal third-quarter losses would rise because of a $29 million writedown at its mortgage arm.

The anxiety over mortgage lenders, particularly the subprime lenders that make loans to people with poor credit, pushed the Dow down by more than 240 points Tuesday, its second-biggest drop in nearly four years. Such concerns jostled stocks for much of Wednesday's session.

"I think the market got below 12,000 and buyers came in," said Todd Leone, managing director of equity trading at Cowen & Co.

According to preliminary calculations, the Dow Jones industrial average rose 57.44, or 0.48 percent, to 12,133.40.

The Dow first climbed above the 12,000 level on Oct. 18, after a meandering, 7 1/2 year journey from the 11,000 mark. During that time, Wall Street dealt with the dot-com bust, recession and the aftermath of the 2001 terror attacks. Tuesday's drop echoed a 416-point drop in the Dow seen two weeks ago that began in part after a nearly 9 percent drop in stocks in Shanghai and amid concerns about subprime mortgages.

Broader stock indicators also rose Wednesday. The Standard & Poor's 500 index advanced 9.22, or 0.67 percent, to 1,387.17, and the Nasdaq composite index rose 21.17, or 0.90 percent, to 2,371.74.

Bonds fell as stocks bandied about; the yield on the benchmark 10-year Treasury note rose to 4.52 percent from 4.50 percent late Tuesday. Gold prices fell.

Light sweet crude settled up 23 cents at $58.16 per barrel on the New York Mercantile Exchange.

"I think people right now don't know what to make of this market," said Larry Peruzzi, senior equity trader at The Boston Company Asset Management. "You look like a hero right now if you bought when the Dow was down 120 points and if you sold you look like a goat."

Peruzzi said stocks recovered after indexes neared technical levels and that the higher close in crude prices lent a boost to energy stocks. Exxon Mobil Inc. rose $1.11 to $71.02, while ConocoPhillips rose $1.32, or 2 percent, to $67.91.

After Tuesday's big decline, the market appeared to have been awaiting further economic data -- notably Thursday's producer price index and Friday's consumer price index -- for signals about the economy's health and whether an interest rate cut might be in the offing. Lower interest rates would make access to capital cheaper and perhaps inject strength in the housing market.

Wall Street's turbulence came as stocks in Europe closed sharply lower, apparently seeing little room for optimism U.S. markets would rebound. Britain's FTSE 100 fell 2.61 percent, Germany's DAX index lost 2.66 percent, and France's CAC-40 fell 2.52 percent. Japan's Nikkei stock average closed down 2.92 percent, while Hong Kong's Hang Sang index fell 2.57 percent and the sometimes volatile Shanghai Composite Index fell 1.97 percent.

The dollar, which was mixed against other major currencies, rose against the yen. Some observers have fingered the ascendent yen with contributing to the volatility seen in recent weeks on Wall Street. A rise in the yen against the dollar stirred concern of a reduction in the so-called yen carry trade, which occurs when investors use the yen to acquire higher-yielding assets elsewhere.

Following Tuesday's sobering declines in stocks, investors appeared to find little reassurance in a General Motors Corp. report that it turned a profit for the fourth quarter, its first since the first quarter of 2006. GM, which fell 26 cents to $30.25, benefited from a big gain from the sale of about half its stake in its General Motors Acceptance Corp. financing arm.

But trouble at GMAC's Residential Capital LLC real-estate financing business added to investor concern Tuesday after ResCap said it has struggled with a slower pace of loan originations and a further erosion in its subprime business.

H&R Block, the nation's largest tax preparer, said it would delay filing its annual report and that the reduced value of its mortgage business pushed its quarterly loss higher. The stock rose 9 cents to $20.14 after spending most of the day lower.

In economic news, the deficit in the broadest measure of foreign trade narrowed by 14.6 percent in the final quarter of 2006 to $195.8 billion, the smallest quarterly imbalance since the summer of 2005. A lower foreign oil bill took received some credit. For 2006, the Commerce Department said the current account deficit, which reflects not only trade in goods and services but also investment flows between countries, set a record for the fifth consecutive year.

The Labor Department said the prices of imported goods rose 0.2 percent in February when excluding oil prices. In January, import prices fell 0.9 percent.

Weighing in again with mortgage data, the Mortgage Bankers Association said Wednesday its weekly mortgage index, which measures mortgage loan application volume, rose 2.8 percent on a seasonally adjusted basis from the prior week. On Tuesday, the group's report that new foreclosures jumped to their highest-ever level in the fourth quarter of 2006 helped touch off the day's cavalcade of sell orders.

In other corporate news, Citigroup Inc. rose 33 cents to $49.08 after announcing plans to begin a tender offer for Nikko Cordial Corp. on Thursday after raising its offer for Japan's third-largest brokerage to quell shareholder opposition.

Lehman Brothers Holdings Inc., the fourth-largest U.S. investment house, credited robust trading and an expansion overseas with driving first-quarter profits. Lehman fell 28 cents to $71.72 on investor concerns the subprime meltdown will hurt financial stocks.

The recent volatility in the U.S. markets, which perhaps normal, has drawn concern from some investors grown accustomed to the calm conditions since U.S. stocks began their steep climb in July. Even before Wall Street's recent uneasiness, volatility might have been expected to increase as the contract expirations near for stock index futures, stock index options, stock options and single stock futures. Such expirations can bring volatility as investors try to square their options and futures orders.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where volume came to 2.07 billion shares.

The Russell 2000 index of smaller companies rose 6.56, or 0.85 percent, to 775.68.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## sam76

Cheers BD,

This makes it a lot easier to find out this info at the touch of a button!


----------



## CanOz

bigdog said:
			
		

> *The NYSE DOW closed HIGHER by 57 points on Wednesday March 14:*
> 
> Symbol ----- Last --- Change
> Dow 12,133.40  +57.44 (0.48%)
> Nasdaq 2,371.74  +21.17 (0.90%)
> S&P 500 1,387.17  +9.22 (0.67%)
> 10-Yr Bond 4.5220%   +0.0270
> NYSE Volume 3,726,059,000
> Nasdaq Volume 2,301,636,000
> 
> http://biz.yahoo.com/ap/070314/wall_street.html?.v=42
> *The Dow Goes Below 12,000, Then Recovers*
> Wednesday March 14, 4:39 pm ET
> By Tim Paradis, AP Business Writer
> *Stocks Bounce Around, Briefly Taking Dow Below 12,000 As Investors Worry About Mortgages *
> 
> NEW YORK (AP) -- Wall Street gyrated and then steadied itself Wednesday, closing with a respectable advance although the Dow Jones industrials fell as much as 136 points and briefly dropped below the 12,000 mark before recovering.
> 
> Stocks bounced back and forth a day after concerns about faltering subprime mortgage lenders sparked a broad selloff. H&R Block Inc. had added to Wall Street's uneasiness by announcing after the closing bell Tuesday its fiscal third-quarter losses would rise because of a $29 million writedown at its mortgage arm.
> 
> The anxiety over mortgage lenders, particularly the subprime lenders that make loans to people with poor credit, pushed the Dow down by more than 240 points Tuesday, its second-biggest drop in nearly four years. Such concerns jostled stocks for much of Wednesday's session.
> 
> *"I think the market got below 12,000 and buyers came in," said Todd Leone, managing director of equity trading at Cowen & Co.*
> 
> According to preliminary calculations, the Dow Jones industrial average rose 57.44, or 0.48 percent, to 12,133.40.
> 
> The Dow first climbed above the 12,000 level on Oct. 18, after a meandering, 7 1/2 year journey from the 11,000 mark. During that time, Wall Street dealt with the dot-com bust, recession and the aftermath of the 2001 terror attacks. Tuesday's drop echoed a 416-point drop in the Dow seen two weeks ago that began in part after a nearly 9 percent drop in stocks in Shanghai and amid concerns about subprime mortgages.
> 
> Broader stock indicators also rose Wednesday. The Standard & Poor's 500 index advanced 9.22, or 0.67 percent, to 1,387.17, and the Nasdaq composite index rose 21.17, or 0.90 percent, to 2,371.74.
> 
> Bonds fell as stocks bandied about; the yield on the benchmark 10-year Treasury note rose to 4.52 percent from 4.50 percent late Tuesday. Gold prices fell.
> 
> Light sweet crude settled up 23 cents at $58.16 per barrel on the New York Mercantile Exchange.
> 
> "I think people right now don't know what to make of this market," said Larry Peruzzi, senior equity trader at The Boston Company Asset Management. "You look like a hero right now if you bought when the Dow was down 120 points and if you sold you look like a goat."
> 
> Peruzzi said stocks recovered after indexes neared technical levels and that the higher close in crude prices lent a boost to energy stocks. Exxon Mobil Inc. rose $1.11 to $71.02, while ConocoPhillips rose $1.32, or 2 percent, to $67.91.
> 
> After Tuesday's big decline, the market appeared to have been awaiting further economic data -- notably Thursday's producer price index and Friday's consumer price index -- for signals about the economy's health and whether an interest rate cut might be in the offing. Lower interest rates would make access to capital cheaper and perhaps inject strength in the housing market.
> 
> Wall Street's turbulence came as stocks in Europe closed sharply lower, apparently seeing little room for optimism U.S. markets would rebound. Britain's FTSE 100 fell 2.61 percent, Germany's DAX index lost 2.66 percent, and France's CAC-40 fell 2.52 percent. Japan's Nikkei stock average closed down 2.92 percent, while Hong Kong's Hang Sang index fell 2.57 percent and the sometimes volatile Shanghai Composite Index fell 1.97 percent.
> 
> The dollar, which was mixed against other major currencies, rose against the yen. Some observers have fingered the ascendent yen with contributing to the volatility seen in recent weeks on Wall Street. A rise in the yen against the dollar stirred concern of a reduction in the so-called yen carry trade, which occurs when investors use the yen to acquire higher-yielding assets elsewhere.
> 
> Following Tuesday's sobering declines in stocks, investors appeared to find little reassurance in a General Motors Corp. report that it turned a profit for the fourth quarter, its first since the first quarter of 2006. GM, which fell 26 cents to $30.25, benefited from a big gain from the sale of about half its stake in its General Motors Acceptance Corp. financing arm.
> 
> But trouble at GMAC's Residential Capital LLC real-estate financing business added to investor concern Tuesday after ResCap said it has struggled with a slower pace of loan originations and a further erosion in its subprime business.
> 
> H&R Block, the nation's largest tax preparer, said it would delay filing its annual report and that the reduced value of its mortgage business pushed its quarterly loss higher. The stock rose 9 cents to $20.14 after spending most of the day lower.
> 
> In economic news, the deficit in the broadest measure of foreign trade narrowed by 14.6 percent in the final quarter of 2006 to $195.8 billion, the smallest quarterly imbalance since the summer of 2005. A lower foreign oil bill took received some credit. For 2006, the Commerce Department said the current account deficit, which reflects not only trade in goods and services but also investment flows between countries, set a record for the fifth consecutive year.
> 
> The Labor Department said the prices of imported goods rose 0.2 percent in February when excluding oil prices. In January, import prices fell 0.9 percent.
> 
> Weighing in again with mortgage data, the Mortgage Bankers Association said Wednesday its weekly mortgage index, which measures mortgage loan application volume, rose 2.8 percent on a seasonally adjusted basis from the prior week. On Tuesday, the group's report that new foreclosures jumped to their highest-ever level in the fourth quarter of 2006 helped touch off the day's cavalcade of sell orders.
> 
> In other corporate news, Citigroup Inc. rose 33 cents to $49.08 after announcing plans to begin a tender offer for Nikko Cordial Corp. on Thursday after raising its offer for Japan's third-largest brokerage to quell shareholder opposition.
> 
> Lehman Brothers Holdings Inc., the fourth-largest U.S. investment house, credited robust trading and an expansion overseas with driving first-quarter profits. Lehman fell 28 cents to $71.72 on investor concerns the subprime meltdown will hurt financial stocks.
> 
> The recent volatility in the U.S. markets, which perhaps normal, has drawn concern from some investors grown accustomed to the calm conditions since U.S. stocks began their steep climb in July. Even before Wall Street's recent uneasiness, volatility might have been expected to increase as the contract expirations near for stock index futures, stock index options, stock options and single stock futures. Such expirations can bring volatility as investors try to square their options and futures orders.
> 
> Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where volume came to 2.07 billion shares.
> 
> The Russell 2000 index of smaller companies rose 6.56, or 0.85 percent, to 775.68.
> 
> New York Stock Exchange: http://www.nyse.com
> 
> Nasdaq Stock Market: http://www.nasdaq.com




Do you think it should say "before the PPT steppd in"?

Cheers,


----------



## Atomic5

The what!? The Plunge Protection Team???! And that _would_ include Bernanke wouldn't it.

_The Working Group on Financial Markets, also known as *the Plunge Protection Team*, was created by Ronald Reagan to prevent a repeat of the Wall Street meltdown of October 1987. Its members include the Secretary of the Treasury, the Chairman of the Federal Reserve, the Chairman of the SEC and the Chairman of the Commodity Futures Trading Commission. Recently, the team has been on high-alert given the increased volatility of the markets and, what Hank Paulson calls, "the systemic risk posed by hedge funds and derivatives.” _ 

Note that the PPT also has alerts on derivatives, noting that the sub-prime loans were indeed turned into securities by Wall Street and also sold to super funds. 

Someone in the US recently laughed off the sub-prime losses as "growing pains for new derivatives".

Derivatives cooked up by Wall Street in the early 90s wiped out the Japanese economy, Sth American currencies, entire US counties and countless pension and superfunds, but made Wall Street a LOT of money.

Of course this time around the losses are heading straight back to Wall Street itself, first .... the rest we'll see.

MHO - DYOR


----------



## bigdog

The NYSE DOW closed HIGHER by 26 points on Thursday March 15:

Symbol ----- Last --- Change 
Dow 12,159.68  +26.28 (0.22%) 
Nasdaq 2,378.70  +6.96 (0.29%) 
S&P 500 1,392.28  +5.11 (0.37%) 
10-Yr Bond 4.5360%   +0.0140  
NYSE Volume 2,751,988,000 
Nasdaq Volume 1,811,926,000 

Shanghai Stock Exchange was up 1.7% March 15
http://www.sse.com.cn/sseportal/en_us/ps/home.shtml#
2007-03-15- 15:05  
Indexes Prev. Closing Last High Low Change% 
SSE 180 5924.46 6025.98 6027.68 5918.91 1.71% 
SSE 50 2100.56 2138.05 2138.92 2098.64 1.78% 
SSE Composite 2906.33 2951.70 2955.46 2905.98 1.56% 
SSE New Composite 2471.83 2510.49 2513.70 2471.19 1.56%


http://biz.yahoo.com/ap/070315/wall_street.html?.v=44
AP
Wall Street Advances As Anxiety Persists
Thursday March 15, 5:17 pm ET 
By Madlen Read, AP Business Writer  
Wall Street Rises Moderately in an Erratic Session, Nervousness Over Mortgages Remains  

NEW YORK (AP) -- Stocks managed a moderate advance Thursday, staying afloat as signs of strength in corporate takeover activity, jobs and overseas markets allowed investors to stomach a sharp rise in wholesale inflation.

Wall Street still displayed nervousness, however, selling off briefly after former Federal Reserve Chairman Alan Greenspan rekindled investors' woes about subprime mortgages. The knee-jerk dip was illustrative of how jittery the markets are now, recoiling when reminded that no one yet knows the extent to which weak areas of economy, notably the struggling housing market and hemorrhaging subprime lenders, will hurt overall growth in the months ahead.

Trading was erratic at other points in the session, but most investors on Thursday chose to pick up bargains following a 242-point drop in the Dow Jones industrials on Tuesday and a 57-point recovery on Wednesday that suggested the market is holding above the index's 12,000 mark -- at least for now.

"There's some optimism because the market had fallen quite a bit and it showed resilience yesterday, which is encouraging," Ed Peters, chief investment officer at PanAgora Asset Management Inc. in Boston, adding that the sentiment could shift on the Consumer Price Index's release Friday. "Some days the pessimists win, some days the optimists win. The market goes back and forth."

A bidding battle for commodities exchange CBOT Holdings Inc. also gave stocks a lift. Despite the cooling economy, merger and acquisition activity has been surging, leading some investors to believe that problems in some sectors haven't seeped into the stronger areas of the economy.

The Dow rose 26.28, or 0.22 percent, to 12,159.68. The Dow is 627 points below its closing high of 12,786.64, reached Feb. 20.

Broader stock indicators were also higher. The Standard & Poor's 500 index gained 5.11, or 0.37 percent, to 1,392.28, and the Nasdaq composite index advanced 6.96, or 0.29 percent, to 2,378.70.

Bonds were little changed. The yield on the benchmark 10-year Treasury note was at 4.54 percent, the same as late Wednesday.

The dollar was mixed against other major currencies, and gold prices rose.

Stocks briefly retreated after Greenspan said at a conference in Boca Raton, Fla., that mortgage lenders' troubles are not yet spilling into the broader economy, but they could if home prices see another substantial decline.

There was also a short pullback in stocks ahead of the Philadelphia Fed's manufacturing index, which showed that the region's manufacturing growth slowed in March. Wall Street had expected activity to increase. Earlier, the New York Fed had also reported a steep deceleration in its March manufacturing growth.

The manufacturing reports came amid the Labor Department's Producer Price Index for February, which jumped by 1.3 percent, twice the amount the market was forecasting.

But investors largely shrugged off the reports Thursday, not shocked that manufacturing is retreating and hopeful that even though inflation is high, economic weakness could compel the Fed to lower rates.

"People should be thinking that the odds of the Fed cutting rates are pretty slim this year, but there seems to be this dogged optimism, or blind hope, that that will happen," Peters said.

The Fed meets next week to decide whether to adjust short-term interest rates. It is expected to keep rates on hold, but any statement that indicates policy makers might raise or lower rates later in the year could move stocks.

Though the market has steadied itself since Tuesday's drop, market watchers aren't discounting the possibility of more seesawing as new data trickles in and as investors try to get a sense of how widespread the problems facing subprime lenders are. Subprime lenders make loans to people with poor credit; rising defaults in those loans have helped trigger the market's recent plunges.

"We haven't hit bottom yet, so we're going to get these pretty violent swings," said Barry James, president and chief executive of James Investment Research Inc. "But we don't see this as the beginning of a big bear market yet. We think this just a normal correction."

Volatility was also high ahead of contract expirations Friday for stock index futures, stock index options, stock options and single stock futures.

Stocks got a boost from IntercontinentalExchange Inc.'s unsolicited $9.9 billion all-stock bid for CBOT Holdings. ICE's bid followed an already agreed-upon $8 billion takeover of CBOT by Chicago Mercantile Exchange Holdings Inc.

CBOT rose $28.86, or 17 percent, to $194.95; ICE fell $3.83, or 3 percent, to $128.10; and CME fell $31.09, or 5.5 percent, to $532.88.

In other takeover news, Cisco Systems Inc. agreed to acquire Web conferencing company WebEx for about $3.2 billion in cash, while General Electric Co.'s Capital Solutions business and Blackstone Group agreed to buy PHH Corp. for $1.69 billion. PHH provides mortgage and vehicle fleet management services.

Cisco fell 4 cents to $25.81, and WebEx rose $10.18, or 22 percent, to $56.38.

GE rose 21 cents to $34.52, and PHH rose $3.29, or 11.8 percent, to $31.10.

Markets also appeared confident that the job market is holding steady. The Labor Department Thursday said the number of Americans seeking unemployment benefits fell for the second straight week. Analysts note, however, that the data can swing drastically from week to week.

Asian and European markets advanced. Japan's Nikkei stock average rose 1.10 percent. Britain's FTSE 100 gained 2.21 percent, Germany's DAX index added 2.14 percent, and France's CAC-40 advanced 1.77 percent.

Advancing issues outnumbered decliners by more than 2 to 1 on the New York Stock Exchange, where volume came to 1.51 billion shares, down from 2.07 billion shares Wednesday.

The Russell 2000 index of smaller companies rose 7.93, or 1.02 percent, at 783.61.

Oil prices fell 61 cents to settle at $57.55 a barrel on the New York Mercantile Exchange, after the Organization for Petroleum Exporting Countries decided to keep output steady, as expected.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 49 points on Friday March 16:

Symbol ----- Last --- Change 
Dow 12,110.41  -49.27 (0.41%) 
Nasdaq 2,372.66  -6.04 (0.25%) 
S&P 500 1,386.95  -5.33 (0.38%)  
10-Yr Bond 4.5450%   +0.0090  
NYSE Volume 3,338,388,000 
Nasdaq Volume 2,110,303,000

http://biz.yahoo.com/ap/070316/wall_street.html?.v=35
AP
*Stocks Give Up Ground After CPI Report*Friday March 16, 4:23 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks Fall As Wall Street, Parsing Economic Data, Turns Pessimistic About Interest Rates * 


NEW YORK (AP) -- Wall Street slumped Friday after another reading on inflation deflated hopes the Federal Reserve will start moving toward an interest rate cut when it meets next week. The major indexes suffered moderate losses for the week.

The inflation reading was the second in as many days that upended expectations that the Fed might consider lowering rates as the economy gives off signs of slowing. The sentiment overshadowed a stronger-than-expected increase in industrial production.

"The market is dealing with the softer economic data that we're seeing and trying to reconcile that with the somewhat stiff inflation data," said Marie Schofield, fixed income strategist and portfolio manager at Columbia Management Group.

According to preliminary calculations, the Dow Jones industrial average fell 49.27, or 0.41 percent, to 12,110.41.

Broader stock indicators also slipped. The Standard & Poor's 500 index fell 5.33, or 0.38 percent, to 1,386.95, and the Nasdaq composite index fell 6.04, or 0.25 percent, to 2,372.66.

Advancing issues outpaced decliners by about 3 to 2 on the New York Stock Exchange, where volume came to a heavy 2.07 billion shares as options contracts expired.

For the week, the Dow fell 1.35 percent, the S&P 500 index tumbled 1.13 percent and the Nasdaq fell 0.62 percent.

Bonds showed less movement than might be expected given inflation concerns and instead focused on a slide in stocks. The yield on the benchmark 10-year Treasury note rose to 4.55 percent from 4.54 percent late Thursday. The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude oil settled down 44 cents at $57.11 per barrel on the New York Mercantile Exchange.

Inflation concerns remained entrenched on Wall Street Friday. The Labor Department's report that its Consumer Price Index rose by 0.4 percent in February renewed some of the concerns that dogged stocks on Thursday. Wall Street had expected an increase of 0.3 percent. The rise was double that of January and the largest rise since a similar increase in December. Rising costs for gasoline, food and citrus crops helped boost prices.

However, the important core figure, which excludes often volatile food and energy prices, didn't surprise Wall Street. It rose 0.2 percent as expected.

The Federal Reserve reported industrial production increased 1 percent in February, well above the 0.3 percent increase analysts expected.

The consumer inflation figures came one day after a key measure of inflation at the wholesale level took Wall Street by surprise with a higher-than-expected reading. Wall Street overcame the unwelcome Producer Price Index reading Thursday to move moderately higher as it focused on further corporate takeover news.

The inflation readings draw Wall Street's attention because investors are concerned that higher prices will make it harder for the Fed to justify a reduction in short-term interest rates, even if such a move could help stave off a further slowdown in the economy. The latest inflation readings carry particular significance as the Fed begins a two-day meeting on Tuesday. The central bank has left interest rates unchanged at its last five meetings, interrupting a string of 17 straight increases that began in 2004.

Joe Balestrino, a portfolio manager at Federated Investors Inc., contends investors are viewing economic data through the eyes of the Fed and not as much for what it says about the economy.

"The fundamentals don't matter. What ultimately does matter is what the Fed is likely to do," he said.

"It's an emotional, sentiment-driven market. Anxiety is driving the market. It's hard to come to any conclusion that the fundamental value of the market is changed from three to four weeks ago."

Sentiment took a jarring nosedive on Feb. 27 when a worldwide selloff raced through the markets and sent the Dow industrials down 416 points that day. Since then Wall Street has been trying to regain its footing and ascertain whether stocks had found a new bottom.

As if to confirm Wall Street's contention that jitters on Wall Street had been felt at home, a measure of consumer confidence fell to a six-month low in mid-March. The Reuters/University of Michigan consumer sentiment index fell to 88.8 from 91.3 in February. Wall Street had expected a reading of about 90.

The volatility and heavy volume that has returned to Wall Street after months of unusual calm surfaced again Friday with the once-per-quarter expiration of stock index futures, stock index options, stock options and single stock futures -- a confluence of expirations known on Wall Street as quadruple witching.

Stocks were also likely headed for further choppiness Friday as investors maneuvered their portfolios to mirror a quarterly rebalancing of Standard & Poor's indexes.

Hard-hit subprime mortgage lenders rallied Friday on word that the companies were taking steps to raise capital. Accredited Home Lenders Holding Co. jumped $1.47, or 15.6 percent, to $11.21 after the subprime mortgage lender announced plans to sell some of its loans at a discount to raise cash necessary to meet margin calls.

Fremont General Corp. rose $1.50, or 20.3 percent, to $8.90 after Credit Suisse boosted the company's credit line to $1 billion. The company said it received several proposals for additional credit.

The Russell 2000 index of smaller companies fell 5.70, or 0.73 percent, to 777.91.

Overseas, Japan's Nikkei stock average closed down 0.69 percent, Hong Kong's Hang Seng index fell 0.08 percent and the often volatile Shanghai Composite Index fell 0.72 percent. Britain's FTSE 100 closed down 0.04 percent, Germany's DAX index slipped 0.09 percent, and France's CAC-40 fell 0.14 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

WOW looking forward to todays ASX opening!

The NYSE DOW closed HIGHER by 115 points on Monday March 19:

Symbol ----- Last --- Change 
Dow 12,226.17  +115.76 (0.96%) 
Nasdaq 2,394.41  +21.75 (0.92%) 
S&P 500 1,402.06  +15.11 (1.09%) 
10-Yr Bond 4.5710%   +0.0260 
NYSE Volume 2,777,176,000 
Nasdaq Volume 1,729,401,000 

http://biz.yahoo.com/ap/070319/wall_street.html?.v=45
Stocks Surge As Merger Deals Continue
Monday March 19, 5:35 pm ET 
By Tim Paradis, AP Business Writer  
Wall Street Surges As Merger Deals Continue and Overseas Markets Extend Their Recovery 


NEW YORK (AP) -- Stocks spiked higher Monday as Wall Street joined overseas markets in riding a wave of merger news to bounce back from a losing week. The Dow Jones industrials rose 115 points.
The buyout news, particularly the possibility of an enormous deal that would unite Dutch bank ABN Amro Holding NV with British bank Barclays PLC, propelled stocks higher as investors theorized that companies remain upbeat about the economy if they're willing to cut new deals.

The advance kicked off an important week for economic data; the first reading, a report from the Chicago Federal Reserve, said regional manufacturing slowed in January. The market was also waiting for Tuesday's start of the U.S. Federal Reserve's two-day meeting on interest rates. While few expect the Fed will adjust short-term interest rates, investors will be looking for any change in the central bank's posture that could hint at where rates are headed in the coming months.

Given the volatility that has returned to the marketplace and the upcoming statement from the Fed, market watchers aren't ruling out more big swings in stocks going forward.

"I think the markets are very sentiment driven. It does also appear that when the global markets see recovery in one area they all seem to move up and when they see concern in another market they all seem to move down," said Subodh Kumar, global investment strategist at Subodh Kumar & Assoc. in Toronto.

The Dow rose 115.76, or 0.96 percent, to 12,226.17, its biggest one-day gain since March 6, when the index climbed more than 150 points.

Broader stock indicators also rose sharply. The Standard & Poor's 500 index gained 15.11, or 1.09 percent, to 1,402.06, and the Nasdaq composite index advanced 21.75, or 0.92 percent, to 2,394.41.

Bonds fell as stocks made gains. The yield on the benchmark 10-year Treasury note rose to 4.57 percent from 4.55 percent late Friday. The dollar was mixed against other major currencies, rising to 117.59 yen from 116.73 yen late Friday. Gold prices rose.

The advance in U.S. equities came as stocks overseas rose sharply, even after China's central banks raised interest rates to try to cool the economy.

Overseas, Japan's Nikkei stock average rose 1.59 percent, Hong Kong's Hang Seng index advanced 1.65 percent, and the sometimes volatile Shanghai Composite Index rose 2.87 percent. Britain's FTSE 100 closed up 0.96 percent, Germany's DAX index added 1.39 percent, and France's CAC-40 finished up 1.43 percent.

"I would attribute what we're seeing to relief that the Asian markets were stronger despite the Bank of China having raised interest rates," Kumar said. "I don't put a lot of faith in the idea that this rally is sustainable. I think we're range-bound."

Investors are trying to determine if the economy can pull off a so-called soft landing or whether areas of weakness such as the housing sector are poised to drag the economy into a pronounced slowdown.

They seemed to look past a report from the Chicago Fed that found Midwestern manufacturing activity pulled back 2.3 percent in January from December to the weakest reading since October 2005. They also appeared to shrug off a decline in sentiment among homebuilders: the National Association of Home Builders said its index of sales activity for new single-family housing slipped to 36 from a reading of 39 in February, which was revised down from 40. It marked the first decline in six months in the index.

Housing data that is more closely watched is due out later this week: Tuesday, the Commerce Department reports on housing starts and building permits, and Friday, the National Association of Realtors reports on home sales, inventories and prices.

"People are watching the housing figures much more than they used to," said Brian Gendreau, investment strategist for ING Investment Management, pointing to the worries over the subprime market, whose troubles could slow down the already struggling housing market.

Concerns about the economy and areas such as the subprime mortgage lending sector, which makes a business of making loans to people with poor credit, helped push stocks lower last week. The Dow industrials fell 1.35 percent, the S&P 500 gave up 1.13 percent, and the Nasdaq composite index slid 0.62 percent.

Gendreau added, though, that delinquencies are fairly isolated geographically, and don't appear likely to damage the wider economy. "It's hard to point to anything fundamentally wrong with this economy," he said.

Merger news helped lift stocks Monday, especially word that ABN Amro, the largest bank in the Netherlands, is a possible buyout target of Barclays. Britain's Sunday Times issued the report, citing anonymous sources. Both companies declined to comment. ABN rose $5.12, or 14 percent, to $41.36, while Barclay's fell 15 cents to $53.35.

In other takeover news, ServiceMaster Co., a provider of housecleaning, landscaping, and pest-control services, agreed to be acquired by an investment group for about $4.48 billion. ServiceMaster rose $1.68, or 12.5 percent, to $15.15.

Also, Community Health Systems Inc., which operates hospitals, agreed to acquire Triad Hospitals Inc. for $54 per share, or about $5.1 billion. Community Health fell $2.02, or 5.5 percent, to $34.78, while Triad rose $2.36, or 4.8 percent, to $51.72.

Another deal announced Monday was oil field-services company Hercules Offshore Inc.'s agreement to buy drilling contractor Todco for $2.3 billion in cash. Todco rose $6.46, or 19.7 percent, to $39.24, and Hercules fell $1.25, or 4.7 percent, to $25.32.

Advancing issues outnumbered decliners by more than 3 to 1 on the New York Stock Exchange, where consolidated volume came to 2.67 billion shares -- down from 3.31 billion shares on Friday, when contract expirations elevated trading volumes.

The Russell 2000 index of smaller companies rose 8.28, or 1.06 percent, to 787.05.

Light, sweet crude fell 52 cents to $56.59 a barrel on the New York Mercantile Exchange amid concerns that demand could slump.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## krisbarry

Kaboom to the DOW Jones


----------



## wayneL

Stop_the_clock said:
			
		

> Kaboom to the DOW Jones




Yes, apparently a slowing economy is bullish


----------



## petervan

http://www.kitcometals.com/    Look at the rises in the top 5 performers at the bottom of the page.Me thinks a bit of confidence is coming back to the market.Having said that it might all fall over tommorow.Hope not


----------



## theasxgorilla

wayneL said:
			
		

> Yes, apparently a slowing economy is bullish




Geniunely incredible...SPX up 1.71% at close...where are those wave counts?


----------



## bigdog

I am in Thailand on holidays for the next three weeks and would appreciate if someone could update this forum daily!
http://finance.yahoo.com/


WOW looking forward to todays action

The NYSE DOW closed HIGHER by 159 points on Wednesday March 21:

Symbol ----- Last --- Change 
Dow 12,447.52  +159.42 (1.30%) 
Nasdaq 2,455.92  +47.71 (1.98%) 
S&P 500 1,435.04  +24.10 (1.71%)  
10-Yr Bond 4.5180%   -0.0290  
NYSE Volume 3,188,275,000 
Nasdaq Volume 2,263,914,000 


http://biz.yahoo.com/ap/070321/wall_street.html?.v=56
Stocks Rally on Fed Comments on Economy
Wednesday March 21, 9:06 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Rally Sharply After the Federal Reserve's Economic Assessment Ignites Investor Hopes 


NEW YORK (AP) -- Wall Street rallied sharply Wednesday after an economic assessment by the Federal Reserve ignited investor hopes that the central bank has warmed to the idea of lowering short-term interest rates. Largely thanks to Wednesday's triple-digit gains, the Dow Jones industrials have surged 337 points this week, the best three-day performance for the blue chip average since November 2004.

Investors had nervously awaited the economic statement that accompanied the Fed's decision to leave short-term interest rates unchanged at 5.25 percent, and were encouraged that the central bank didn't refer to the possibility of "additional firming" of rates as it did in January. Policy makers said "future policy adjustments" will depend on inflation and growth -- more neutral language that the market interpreted as opening the way for a possible rate cut. The Fed indicated that it remains vigilant about the threat of inflation, though.

The market was also relieved that the central bank left in place language in its statement that it still expects the economy will "continue to expand at a moderate pace."

While a slowdown in the economy likely would quell the threat of inflation and perhaps open the way for a rate cut it would also dent corporate profits.

"I think it did a bit to assuage the equity market's concerns that the Fed understands there is a possibility that the drag on the consumer could bring GDP down below where they expect," said Quincy Krosby, chief investment strategist at The Hartford, referring to gross domestic product -- the broadest measure of the economy.

"They made it clear that they remain data-dependent. However, given the data they have today they see an economy that is still expanding, albeit more slowly."

The Dow soared 159.42, or 1.30 percent, to 12,447.52, after having been flat until the Fed announcement. It was the index's biggest one-day point gain since July 24.

Broader stock indicators also posted strong gains. The Standard & Poor's 500 index jumped 24.10, or 1.71 percent, to 1,435.04, and the Nasdaq composite index advanced 47.71, or 1.98 percent, to 2,455.92.

The Dow is still down 0.13 on the year, but the S&P 500 and Nasdaq are now up by more than 1 percent.

Bonds rose following the Fed decision. The yield on the benchmark 10-year Treasury note fell to 4.54 percent from 4.55 percent late Tuesday. The yield on the two-year note briefly fell below that of the 10-year for the first time since August 2006 -- a positive sign, given that some say that a market with short-term yields exceeding long-term yields portends a recession.

The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude settled up 36 cents at $59.61 per barrel on the New York Mercantile Exchange. A government report showed U.S. crude oil inventories rose again last week, but gasoline stocks fell more than analysts expected.

The Fed's reflections on the economy served as a calming voice on Wall Street after growing unease about economic growth worldwide helped spark a Feb. 27 selloff that saw a 416-point drop in the Dow. The Dow is now 185 points, or 1.5 percent, lower than it was on Feb. 26, before that plunge.

With Wednesday's decision, the Fed has left short-term interest rates, the rate banks charge each other for overnight loans, unchanged for six straight meetings after a string of 17 straight increases that began in 2004.

Though removing the reference to "additional firming" seemed to suggest to some investors that the central bank has softened its stance toward raising rates, analysts pointed out the Fed still noted that "inflation risks remain," and that "recent readings on core inflation have been somewhat elevated."

"By the initial rally it seems like the market is saying the statement is less hawkish and the market is setting up for them to be balanced at the next meeting. Although I believe that they're going toward that direction, I think their statement isn't a clear signal that they're there yet," said Sean Simko, head of fixed income management at SEI Investments.

"They have to remain data-dependent," he said of the Fed. "If they take their inflation bias off, they risk losing their credibility."

The relief over the statement Wednesday could be short-lived if new data arrives in the coming weeks showing inflation ramping up. Market watchers will remember that Fed's decision to leave rates unchanged last month led to an initial elation that helped bring the Dow to its 31st record high since October -- but that elation wore off a week later when worries emerged related to plummeting markets overseas, the faltering subprime mortgage market, dollar weakness versus the yen, and the possibility of a recession.

While most of Wall Street's attention Wednesday was squarely on the Fed, a few key earnings reports also drew interest. Morgan Stanley's fiscal first-quarter earnings and revenue blew past Wall Street's estimates and FedEx Corp.'s fiscal third-quarter earnings came in stronger than expected but the shipping company warned profits in the coming fiscal year could fall below its expectations.

Morgan Stanley rose $4.66, or 6.1 percent, to $80.77, while FedEx fell $1.30 to $110.99.

Software companies showed gains. An acquisitive Oracle Corp. indicated its expansion plans might be reaping dividends as its fiscal third-quarter earnings and new software sales topped Wall Street's expectations. Oracle advanced 62 cents, or 3.5 percent, to $18.17.

Adobe Systems Inc. rose $2.56, or 6.3 percent, to $43.30 after the company reported its first-quarter results topped Wall Street's expectations and the company increased its profit forecast.

Advancing issues outnumbered decliners by about 5 to 1 on the New York Stock Exchange after being nearly even before the Fed's announcement. Consolidated volume came to 3.13 billion shares, up from 2.75 billion on Tuesday.

The Russell 2000 index of smaller companies rose 13.87, or 1.75 percent, to 807.47.

Overseas, markets in Japan were closed for a holiday. Britain's FTSE 100 closed up 0.59 percent, Germany's DAX index added 0.18 percent, and France's CAC-40 slipped 0.02 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 13 points on Thursday March 22:

Symbol ----- Last --- Change 
Dow 12,461.14  +13.62 (0.11%)  
Nasdaq 2,451.74  -4.18 (0.17%) 
S&P 500 1,434.54  -0.50 (0.03%)  
10-Yr Bond 4.5890%   +0.0710 
NYSE Volume 3,184,479,000 
Nasdaq Volume 2,009,801,000 

http://biz.yahoo.com/ap/070322/wall_street.html?.v=42
Stocks End Mixed As Investors Await Data
Thursday March 22, 7:41 pm ET 
By Madlen Read, AP Business Writer  
Stocks Mixed After Big Run-Up As Investors Await New Signals on Inflation, Growth 


NEW YORK (AP) -- Wall Street finished mixed Thursday, nudging the Dow Jones industrials higher for a fourth straight session but moving cautiously as investors awaited new data to assess whether their hopes for an interest rate cut are justified. A surprise warning that cell phone maker Motorola Inc. will post a loss for the first quarter also made the market uneasy as it looked ahead to earnings reports that begin next month.

Investors seemed uncertain about where to take stocks a day after the Federal Reserve issued an economic assessment interpreted as opening up the possibility of a reduction in short-term rates. The statement unleashed a wave of buying that boosted the Dow by 159 points Wednesday, but Thursday's session was erratic, with the Dow weaving in and out of positive territory throughout the day.

Investors remained optimistic about the statement but reined in their buying as they took note of climbing energy costs, which made it look unlikely that inflation will cool enough to provoke a rate cut, and as market experts debated whether the Fed's slight change in language truly suggested a shift in policy.

"At the end of the day, I don't think it means a heck of a lot," said Stephen Massocca, president of Pacific Growth Equities. "The market received it very, very well, but ultimately the Fed is news-dependent."

Still, falling unemployment claims and strength in markets overseas kept stocks from sinking after this week's surge. The Dow has had its best four-day point gain since May 2005; whether it continues the streak will depend much on Friday's report on existing homes sales, inventories and prices for February.

The blue chip index rose 13.62, or 0.11 percent, to 12,461.14.

Broader indicators slipped. The Standard & Poor's 500 index fell 0.50, or 0.03 percent, to 1,434.54. The technology-dominated Nasdaq composite index declined 4.18, or 0.17 percent, to 2,451.74, pulled lower in large part by Motorola's warning.

"Surprisingly, the market's holding on to yesterday's gains," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners Inc. "The market is doing quite nicely -- we're not really giving anything up here. It shows that technically, the market has gained momentum."

Market watchers aren't discounting the possibility of further volatility, however, given the potential for Friday's housing data to move the markets and as oil prices continue to rise, reminding investors that inflation is still high and that Americans may need to cut back on discretionary spending.

On Thursday, oil prices climbed more than $2 to $61.69 a barrel on the New York Mercantile Exchange. U.S. retail gasoline prices have surged about 20 percent over the past two months as stockpiles decline ahead of the peak driving season.

Giving investors some relief, though, was the Labor Department's report that the number of laid-off workers seeking unemployment benefits fell to 316,000 last week, the third consecutive decline -- usually a good sign that consumers are finding work and likely able to keep spending.

Bonds fell sharply after the jobs data, pushing up the yield on the benchmark 10-year Treasury note to 4.59 percent from 4.54 percent late Thursday. The 10-year yield was slightly higher than that of the 2-year, which many market participants took as a positive development. Prior to Wednesday, short-term yields had exceeded long-term yields since August 2006, in a pattern that some say portends a recession.

The dollar rose against other major currencies, while gold prices climbed.

Investors also monitored a Senate committee hearing on subprime mortgage lenders, which make loans to people with poor credit. The hearing didn't reveal much new information about whether the sector's troubles are widespread, a worry that has been a big factor in stocks' recent volatility, but investors are likely to continue watching to see if regulators express the need for federal intervention.

"People are going to want to verify as the days unfold that this subprime thing is contained to a few situations, and that there's no larger contagion that's going to spread," Massocca said.

In addition to subprime woes, oil prices and the benchmark interest rate -- which the central bank has kept on hold at 5.25 percent for six straight meetings -- investors also focused on a slew of outlooks and earnings reports Thursday. As earnings season nears, experts expect corporate financial results to play a bigger role in market movements.

Technology companies came under pressure after Motorola warned it will swing to a first-quarter loss due to declining sales. The cell phone maker fell $1.24, or 6.6 percent, to $17.50, a level not seen in nearly two years.

Palm Inc. fell $1.71, or 8.8 percent, to $17.74, as investors' speculation diminished that the smart phone and handheld device maker could be bought by Motorola.

Barnes & Noble Inc. reported a rise in fiscal fourth-quarter results, but the figure missed expectations. Rival book, music and movie seller Borders Group Inc. said it swung to a fourth-quarter loss and announced plans to close nearly half its Waldenbooks stores.

Barnes & Noble fell $1.10, or 2.8 percent, to $37.90, and Borders fell 73 cents, or 3.4 percent, to $20.70.

KB Home, one of the nation's largest homebuilders, said its first-quarter profit fell 84 percent, but the results came in ahead of Wall Street's lowered expectations. KB Home fell 54 cents to $47.25.

The Russell 2000 index of smaller companies was up 0.58, or 0.07 percent, at 808.05.

Advancing issues narrowly outnumbered decliners on the New York Stock Exchange, where consolidated volume came to 3.02 billion shares, compared to 3.13 billion shares Wednesday.

Overseas, Japan's Nikkei stock average rose 1.49 percent. Britain's FTSE 100 was up 0.98 percent, Germany's DAX index was up 2.16 percent, and France's CAC-40 was up 1.75 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 19 points on Friday March 23:

Symbol ----- Last --- Change 
Dow 12,481.01  +19.87 (0.16%)  
Nasdaq 2,448.93  -2.81 (0.11%)  
S&P 500 1,436.11  +1.57 (0.11%) 
10-Yr Bond 4.6130%   +0.0240  
NYSE Volume 2,624,821,000 
Nasdaq Volume 1,699,904,000 

http://biz.yahoo.com/ap/070323/wall_street.html?.v=56
Dow Secures Best Week in Four Years
Friday March 23, 9:53 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Rise Modestly As Investors Digest Existing Home Sales Report; Oil Rises 


NEW YORK (AP) -- Stocks closed mostly higher Friday, sending the Dow Jones industrials' to their best week in four years after a surprise jump in home sales eased concern that frailty in the housing market will hurt economic growth. Existing home sales rose by the biggest amount in nearly three years in February amid a sharp increase in sales in the Northeast, the National Association of Realtors said. The 3.9 percent increase was the largest since a similar jump in March 2004; analysts had been expecting a decrease. 

Still, the report did have some downbeat aspects -- the median price of a home fell year-over-year for the seventh straight month and inventories rose.

The Federal Reserve this week said an "adjustment" in the housing sector was continuing, offering some relief for investors left unnerved by the woes among so-called subprime mortgage lenders. Wall Street had grown concerned that an implosion among subprime lenders, which make loans to people with poor credit, could spill over into other parts of the economy and derail already slowing economic growth.

"People are realizing the housing market is bottoming and is not going to cause a recession in 2007," said Noman Ali, U.S. equities portfolio manager at MFC Global Investment Management. "The consumer is really the main driving force of the economy and the consumer remains strong."

The Dow rose 19.87, or 0.16 percent, to 12,481.01. The blue chip index rose for five straight sessions, picking up 370.60 for its biggest weekly point gain since March 2003; that translated to a 3.06 percent rise for the week.

Broader stock indicators ended mixed. The Standard & Poor's 500 index advanced 1.57, or 0.11 percent, to 1,436.11, and the Nasdaq composite index fell 2.81, or 0.11 percent, to 2,448.93.

For the week, the S&P 500 rose 3.54 percent and the Nasdaq gained 4.52 percent.

Bonds fell following release of the housing data. The yield on the benchmark 10-year Treasury note rose to 4.61 percent from 4.58 percent late Thursday. The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude settled up 59 cents at $62.28 per barrel on the New York Mercantile Exchange. Oil prices rose following word that Iranian naval vessels had detained 15 British sailors and marines in Iraqi waters. Concerns arose that an escalation of tension could hurt exports from the Persian Gulf.

The week's gains seemed to take Wall Street by surprise. Investors had expected the Fed would leave short-term interest rates at 5.25 percent but changes in the wording of the central bank's policy statement seemed to offer something for everyone. Stocks rallied after the central bank didn't refer to the possibility of "additional firming" of rates as it had in January. Instead, policy makers said "future policy adjustments" would depend on inflation and growth. Despite the more neutral language about the possibility of a rate cut, the Fed said it remains vigilant about the threat of inflation.

With Wednesday's decision, the Fed has left short-term interest rates, the rate banks charge each other for overnight loans, unchanged for six straight meetings after a string of 17 straight increases that began in 2004.

Examining the week's trading, Ed Hyland, global investment specialist for JPMorgan Private Bank, said it is a "good sign" that the market hasn't given back its gains.

"I think it's just that the market is continuing to digest the rally that it had," he said, though he noted Wednesday's advance, which included a 159 point jump in the Dow industrials, was perhaps overwrought.

Ali contends that if concerns about the housing sector moderate somewhat, Wall Street will likely turn its attention in the coming weeks to forecasts about quarterly results. "It's going to be confession season going into first-quarter earnings."

In corporate news, Germany's DaimlerChrysler AG jumped to a fresh 52-week high amid speculation that a Canadian auto supplier, along with a private equity company, planned to make a bid for the company's struggling U.S. Chrysler division. DaimlerChrysler jumped $4.76, or 6.1 percent, to $82.36. The stock traded as high as $82.93, eclipsing an earlier 52-week high of $77.99.

General Motors Corp., one of the 30 stocks that make up the Dow industrials, gave a sizable boost to the blue chips amid enthusiasm over the possible Chrysler bid and after the world's largest automaker announced stock option grants to executives that are tied to the company's performance. GM rose $1.67, or 5.5 percent, to $31.99.

Verizon, also a Dow component, rose 11 cents to $38.12 after a federal judge issued a permanent injunction against Internet phone company Vonage Holdings Corp. for use of Verizon's patents. Vonage fell 26 cents, or 6.4 percent, to $3.79.

Amgen Inc. fell $2.45, or 4.1 percent, to $58.02 after the company halted a trial of colon cancer drug Vectibix. In the trial, the product hastened the development of colon cancer when used in combination with Avastin.

Label maker Avery Dennison Corp. agreed to acquire Paxar Corp., a maker of tags, labels and apparel identification products, for about $1.34 billion. Avery Dennison rose 88 cents to $66.43, while Paxar surged $4.52, or 18.8 percent, to $28.55.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where consolidated volume came to 2.56 billion shares, down from 3.02 billion Thursday.

The Russell 2000 index of smaller companies rose 1.46, or 0.18 percent, to 809.51.

Overseas, Japan's Nikkei stock average closed up 0.35 percent, Hong Kong's Hang Seng index edged up 0.01 percent and the sometimes volatile Shanghai Composite Index advanced 0.10 percent, which closed at a record high for the third straight day. A nearly 9 percent drop in the Shanghai Composite Index on Feb. 27 helped kick off the global selloff.

Britain's FTSE 100 ended up 0.34 percent, Germany's DAX index gained 0.61 percent, and France's CAC-40 added 0.65 percent.

The Dow Jones industrial average ended the week up 370.60, or 3.06 percent, at 12,481.01. The Standard & Poor's 500 index was up 49.16, or 3.54 percent, at 1,436.11. The Nasdaq composite index rose 76.27, or 3.21 percent, at 2,448.93.

The Russell 2000 index closed the week up 30.74, or 3.95 percent, to end at 809.51.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies-- ended the week at 14,556.46, up 501.68 points from last week. A year ago the index was at 13,166.77.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## CanOz

Wall Street Closes Mixed After Disappointing Home Sales Report Raises Worries About Economy 


NEW YORK (AP) -- Wall Street pared steep losses Monday to end narrowly mixed after a surprise drop in new home sales for February triggered further concern that economic growth is slowing more than expected.
ADVERTISEMENT


The Commerce Department reported that sales of new single-family homes fell by 3.9 percent last month to a seasonally adjusted annual rate of 848,000. It was the slowest sales pace in nearly seven years and dimmed hopes for a rebound in the troubled housing market.

Economists have been watching the housing industry for a hint about where the economy is heading. The disappointing data came amid continued concern about the subprime mortgage market, which has been slammed by an increase in delinquencies in recent months.

This sent major indexes down throughout most of the session, with the Dow Jones industrials racking up triple-digit losses. Investors used the decline to buy some shares before the second-quarter ends on Friday, analysts said.

"The market is already worried more about economic growth than inflation, so I think you're going to see reactions like this," said Todd Salamone, director of trading at Schaeffer's Investment Research in Cincinnati. "Overall, it's impressive from the comeback we've had. There's been a whirlwind of attention about housing's effects on the economy, it isn't anything new and these pullbacks are buying opportunities."

The Dow fell 11.94, or 0.10 percent, to 12,469.07. Last week, the benchmark index posted a 370 point gain, its best weekly point rise in four years. It dropped as much as 112 points earlier on Monday.

Broader stock indicators were slightly higher. The Standard & Poor's 500 index rose 1.39, or 0.10 percent, to 1,437.50, and the Nasdaq composite index added 6.70, or 0.27 percent, to 2,455.63.

Bonds rose, with the yield on the benchmark 10-year Treasury note falling to 4.60 percent from 4.61 percent late Friday. Bond investors have been hoping that a slowing economy will cause the Federal Reserve to lower interest rates.

The dollar traded mixed against other major currencies, while gold prices advanced.

Investors also are focused on a spate of economic data due this week, including Conference Board's consumer confidence survey on Tuesday and the gross domestic product report due on Wednesday.

"Investors are looking to figure out how things are going to shake out after a big move higher last week," said Mike Malone, a trading analyst at Cowen & Co. "Given the magnitude of the move higher we had last week, I don't find this to be overly surprising."

Oil prices rose Monday, with a barrel of light sweet crude up 63 cents to $62.91 on the New York Mercantile Exchange. Crude prices have risen steadily on continued tensions between Iran and the West following Iran's detention of British naval personnel. Recent declines in U.S. oil inventories also supported the market.

Citigroup Inc. fell 18 cents to $51.54. The Wall Street Journal reported Citigroup might reduce its work force by about 5 percent. The company has been under pressure during the past year to boost earnings to fend off rivals from eating into its global market share.

Dell Inc. rose 79 cents, or 3.5 percent, to $23.62 after a Goldman Sachs analyst said the computer maker should see benefits from its turnaround efforts later this year.

Walgreen Co. reported second-quarter profit surpassed Wall Street projections as the drug store chain posted robust revenue from retail prescriptions. The stock fell 47 cents to $47.30.

Fiscal fourth-quarter profits at Tiffany & Co. remained essentially flat as the luxury jewelry retailer recorded an impairment charge. Revenue, however, rose 15 percent to $986.4 million. Results came in ahead of Wall Street's expectations. The stock rose 13 cents to $45.63 after hitting a 52-week high of $46.09 at the open.

Kimberly-Clark Corp., the maker of consumer brands like Kleenex and Huggies, on Monday said it still expects to meet its full-year profit target. Shares fell 5 cents to $68.94.

Saudi Basic Industries Corp. is planning a bid worth up to $12 billion for General Electric Co.'s plastics unit, the Financial Times reported Monday. GE rose 18 cents to $36.

The Russell 2000 index of smaller companies was fell 3.26, or 0.40 percent, at 806.25.

Advancing issues outnumbered decliners by about 3-to-2 on the New York Stock Exchange, where consolidated volume came to 2.69 billion shares, up from 2.56 billion Friday.

Overseas, Japan's Nikkei stock average closed up 0.24 percent. Britain's FTSE 100 down 0.75 percent, Germany's DAX index was down 1.02 percent, and France's CAC-40 was fell 1.04 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## CanOz

AP
Stocks Fall Amid Inflation Concerns
Wednesday March 28, 5:41 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Slide As Fed Chief Testifies on Inflation; Durable Goods Report Falls Short 


NEW YORK (AP) -- Stocks fell Wednesday after Federal Reserve Chairman Ben Bernanke chided investors who may have looked past long-standing concerns about inflation. The Dow Jones industrials fell nearly 100 points, the third straight session of declines.
ADVERTISEMENT


A rise in oil prices to a six-month high and a weaker-than-expected rise in orders for large manufactured goods compounded investors' concerns Wednesday.

In Capitol Hill testimony, Bernanke said while core inflation slowed modestly in the second half of 2006, recent readings remain "uncomfortably high." He also said troubles among some mortgage lenders that cater to those with poor credit don't appear to have spread to the broader economy, though he added the situation requires further observation.

Stocks rallied last week after investors interpreted language from the Fed as opening the way to the possibility of a reduction in interest rates. But concerns about stubborn inflation could reverse investors' hopes for a reduction in rates, even as the economy continues to cool.

"I think what the Fed is trying to tell us is that it is between a rock and a hard place. And when you're between and a rock and a hard place you just can't move," said Drew Matus, senior economist at Lehman Brothers Holdings Inc.

The Dow industrials fell 96.93, or 0.78 percent, to 12,300.36. The Dow fell by as much as 140 points after the Fed released Bernanke's prepared remarks for his testimony.

Broader stock indicators also pulled back. The Standard & Poor's 500 index fell 11.38, or 0.80 percent, to 1,417.23, and the Nasdaq composite index fell 20.33, or 0.83 percent, to 2,417.10.

Bonds fell, with the yield on the benchmark 10-year Treasury note rising to 4.62 percent from 4.61 percent late Tuesday.

"It wasn't quite a perfect storm but you had enough winds buffeting the market around so it made it hard," Matus said of the combination of Bernanke's testimony as well as the reading on orders for durable goods and political tensions between Iran and the West.

Matus contends Wall Street might have in the last week overestimated the central bank's ability to lower interest rates.

"In reality, there's a lot of uncertainty. You don't move forward unless you can see the path and I don't think they can see the path," he said of the Fed. The central bank has left short-term interest rates unchanged at its last six meetings, interrupting a string of 17 straight increases that began in 2004.

"You can't cut rates to try and spark growth and hope to contain inflation at the same time. That just doesn't work," Matus said.

The dollar was mixed against other major currencies, while gold prices rose.

Beyond concerns about inflation, economic data also weighed on stocks. Orders for durable goods increased 2.5 percent in February amid an increase in sales of commercial aircraft and autos after a 9.3 percent falloff in January. Wall Street had expected the Commerce Department report would show a 3.5 percent gain. The weak reading for January helped contribute to a Feb. 27 global selloff that cut the Dow industrials by 416 points. Excluding the volatile transportation sector, orders fell 0.1 percent, the fourth drop in five months.

Adding to economic concerns, oil prices continued to climb amid political tensions in the Middle East over Iran's detention of British sailors and marines. Oil prices spiked following rumors, which the U.S. military denied, that Iran had fired a missile at a U.S. ship in the Persian Gulf. Also, weekly government inventory data showed a decline in stores of crude oil, gasoline and distillates.

Light, sweet crude rose $1.15 to settle at $64.08 per barrel Wednesday, its highest level since Sept. 11, 2006.

In corporate news, homebuilder Beazer Homes fell $2.64, or 8.4 percent, to $28.77 after coming under investigation for its mortgage lending practices as well as other financial dealings by a host of government agencies. Beazer said it is complying with a request for documents from a federal prosecutor.

Other homebuilders fell alongside Beazer. Hovananian Enterprises Inc. fell $1.09, or 4.1 percent, to $25.55, while KB Home fell $1.43, or 3.2 percent, to $43.88.

Circuit City Stores Inc., rose 35 cents to $19.23 after the electronics retailer announced plans to lay off about 3,400 workers at its stores and replace them with lower-paid employees. The company also plans to eliminate 130 information-technology jobs from its corporate ranks.

Archer Daniels Midland Co. rose 91 cents, or 2.5 percent, to $36.84 after a Citigroup analyst said the food producer, which also makes a type of ethanol derived from corn, should benefit if corn prices fall amid an expected bump in supply.

Vyyo Inc., which makes communications equipment, jumped 97 cents, or 13 percent, to $8.44 after receiving $35 million in funding from Goldman Sachs & Co.

Declining issues outnumbered advancers by about 2 to 1 on the New York Stock Exchange, where consolidated volume came to 2.88 billion shares compared with 2.58 billion Tuesday.

The Russell 2000 index of smaller companies fell 4.96, or 0.62 percent, to 797.40.

Overseas, Japan's Nikkei stock average closed down 0.64 percent, while Hong Kong's Hang Seng index fell 0.78 percent. The Shanghai Composite index, after a volatile session in which it had been down sharply, rose 1.09 percent to its eighth straight record close.

Britain's FTSE 100 closed down 0.40 percent, Germany's DAX index fell 0.60 percent, and France's CAC-40 declined 0.62 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## Glenhaven

The DOW has started strongly to-night, up 47 early.


----------



## Edwood

http://www.youtube.com/watch?v=wxs3MEUnIK0

Oscar does US markets... worth a watch, 11mins


----------



## bigdog

The NYSE DOW closed HIGHER by 4.7 points on Tuesday April 10:

Symbol ----- Last --- Change 
Dow 12,573.85  +4.71 (0.04%) 
Nasdaq 2,477.61  +8.43 (0.34%) 
S&P 500 1,448.39  +3.78 (0.26%) 
10-Yr Bond 4.7240%   -0.0210 
NYSE Volume 2,515,148,000 
Nasdaq Volume 1,912,899,000 

http://biz.yahoo.com/ap/070410/wall_street.html?.v=36
Stocks Move Up Ahead of 1Q Earnings
Tuesday April 10, 5:47 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Edge Higher As Investors Await Word on Earnings, Fed Officials' Speeches 

NEW YORK (AP) -- Stocks edged higher Tuesday as investors refrained from major moves ahead of first-quarter earnings reports that began with Alcoa Inc.'s results after the closing bell. A modest increase in the Dow Jones industrials marked the eighth-straight win for the blue chip index, its longest such streak since 2003. 
Aluminum producer Alcoa reported a better-than-expected first-quarter profit, pleasing investors who bid the company's stock up in after-hours trading. Wall Street was looking for results from the Dow component to not only gauge the pace of earnings for the quarter but as a proxy for the health of the overall economy.

Tuesday was the second day in a row that stocks showed little overall movement as investors awaited news of how companies fared during the first quarter, and also their expectations for the coming quarters. In the fourth quarter, Standard & Poor's 500 companies snapped an 18-quarter streak of double-digit profit gains, and Wall Street expects profit growth to remain in the single digits for the first three months of the year.

"A lot of people are going to be watching earnings very closely and not just the numbers, but the guidance that they give going forward," said J. Michael Barron, chief executive of Knott Capital. "I think that will be crucial."

With no major economic data scheduled, investors looked to speeches by Federal Reserve officials to get a better idea of where the central bank stands on inflation and interest rates. A stronger-than-expected jobs report Friday dashed some investors' hopes that the central bank will soon lower interest rates.

The Dow rose 4.71, or 0.04 percent, to 12,573.85.

Broader stock indicators edged higher. The S&P 500 rose 3.78, or 0.26 percent, to 1,448.39, and the Nasdaq composite index advanced 8.43, or 0.34 percent, to 2,477.61.

Bonds continued their recovery, with the yield on the benchmark 10-year Treasury note falling to 4.72 percent from 4.75 percent late Monday. Bonds fell sharply Friday after release of the government's jobs report. Gold prices rose, while the dollar was mixed against other major currencies.

Oil prices rose after selling off Monday following doubts about Iran's comments about its uranium enrichment achievements. A barrel of light, sweet crude for delivery on the New York Mercantile Exchange rose 38 cents to settle at $61.89.

"I think we're all anticipating the earnings season. I think everyone is going to wait on their heels and see how the numbers are going to come through," said Tim Hartzell, chief investment officer at Kanaly Trust Co.

He contends investors are perhaps too dour in their assessment of corporate earnings, though he is waiting to get a sense of how the numbers stack up before making any big moves. He noted companies' cash flows remain strong. He also expects companies will continue to repurchase stock, which could help boost per-share profit figures.

"We're just waiting to see what the numbers are before we do any buying and selling," he said.

As they awaited earnings news, investors examined comments from Fed governors but appeared unmoved.

Fed Gov. Frederic Mishkin said Tuesday that inflation expectations remain "well anchored" and said inflationary pressure have been "falling back again."

Dallas Fed President Richard Fisher said the U.S. economy has been growing but that its expansion is slowing. He also said inflation remains stubbornly high.

Investors were also awaiting minutes due Wednesday from the Fed's most recent meeting at which it left short-term interest rates unchanged for the sixth straight time. The Fed has been standing pat on interest rates following a string of 17 straight increases that began in 2004.

Comments issued after the Fed's March meeting sent stocks soaring; many investors saw the Fed as indicating it was opening the door to a rate cut.

Alcoa, which rose 3 cents to $34.90 in regular trading, picked up another 60 cents in extended dealings after releasing its earnings announcement.

Dow Chemical Co. fell $1.12, or 2.4 percent, to $45.51 after the chemical and plastics maker said it has had no discussions about a leveraged buyout. A British newspaper reported over the weekend that a group of Middle Eastern investors and U.S. buyout firms was preparing a $50 billion bid.

Citigroup Inc. rose 82 cents to $52.40 ahead of a major restructuring announcement in which some 26,000 workers will be reassigned or see their jobs eliminated, according to a report by The New York Times. Chief Executive Charles Prince is scheduled to announce the plan on Wednesday.

D.R. Horton Inc., the nation's largest homebuilder by deliveries, said its second-quarter sales order fell 37 percent, led by even steeper declines in California and the Southwest. Shares fell 34 cents to $21.70.

Adolor Corp. fell $5.12, or 58.7 percent, to $3.60 after the biopharmaceutical company suspended clinical studies and withdrew an application for a constipation-relief drug.

Shares of drug maker Mylan Laboratories Inc. jumped 60 cents, or 2.8 percent, to $21.80 after the company raised its profit forecast, citing continued strength in its generics business and new product sales.

Advancing issues outnumbered advancers by about 5 to 3 on the New York Stock Exchange, where consolidated volume came to 2.49 billion shares, compared with 2.32 billion traded Monday.

The Russell 2000 index of smaller companies rose 2.87, or 0.35 percent, to 814.51.

Overseas, Japan's Nikkei stock average closed down 0.45 percent. Britain's FTSE 100 rose 0.32 percent, Germany's DAX index rose 0.94 percent, and France's CAC-40 advanced 0.43 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 59 points on Friday April 13:

Symbol ----- Last --- Change 
Dow 12,612.13  +59.17 (0.47%) 
Nasdaq 2,491.94  +11.62 (0.47%) 
S&P 500 1,452.85  +5.05 (0.35%) 
10-Yr Bond 4.7610%   +0.0240 
NYSE Volume 2,690,330,000 
Nasdaq Volume 1,999,482,000

http://biz.yahoo.com/ap/070413/wall_street.html?.v=48
Dow Closes Up 59, Nasdaq Finishes Up 12
Friday April 13, 6:16 pm ET 
By Joe Bel Bruno, AP Business Writer  
Wall Street Ends Bumpy Week With Moderate Gain As Investors Await Rush of Earnings Reports 


NEW YORK (AP) -- Wall Street closed out a bumpy week with a moderate gain Friday as investors, heartened by new inflation data, bought optimistically ahead of next week's rush of earnings releases. The Dow Jones industrials had their 11th advance in 12 sessions, and all the major indexes closed out the week higher. 

After some wavering early in the day, investors ultimately decided to extend the climb Friday, encouraged by the Labor Department's Producer Price Index coming in flat for March, once volatile prices for energy and food were stripped out. Including energy and food, wholesale prices rose 1 percent, a smaller rise than the 1.3 percent jump in February.

The stock market's advance was dampened only slightly by the University of Michigan's consumer sentiment index, which weakened in early April and raised worries that consumers could rein in spending. The report also suggested that consumers are more uneasy about inflation than they were last month. Inflation is a concern for the stock market if it gets so high that the Federal Reserve raises rates to curb it.

Though investors decided to buy ahead of next week's first-quarter results, which the market anticipates will show slowing corporate growth, inflation concerns are likely to keep factoring into stocks' performance -- especially with the Consumer Price Index slated for next week.

"Inflation is a little higher than investors would want, and the economy is a little weaker," said Michael Strauss, chief economist at CommonFund. "The equity market is put in a difficult position. The Fed might lower interest rates, but until we get closer to the easing process, stocks will see more gyrations up and down."

The Dow closed up 59.17, or 0.47 percent, at 12,612.13.

The blue chip index was helped Friday by news from Merck & Co., which rose $3.85, or 8.3 percent, to $50.21. The drugmaker soared after a federal judge in New Jersey dismissed a lawsuit related to its discontinued arthritis pain reliever Vioxx, and after the company raised its profit outlook for 2007.

The broader Standard & Poor's 500 index gained 5.05, or 0.35 percent, to 1,452.85, and the Nasdaq composite index rose 11.62, or 0.47 percent, to 2,491.94.

Bonds fell after the consumer sentiment data, with the yield on the benchmark 10-year Treasury note rising to 4.77 percent from 4.74 percent late Thursday.

A report from the Commerce Department that the U.S. trade deficit improved for a second straight month gave some support to stocks. Also easing some inflation jitters, crude prices retreated slightly on the New York Mercantile Exchange, falling 22 cents to $63.63 a barrel after surging earlier in the day.

Analysts predict that the next few weeks will show that U.S. companies are still posting profit overall, but that growth in the first quarter will be slower than in past years.

"The U.S. economy is weak, and margins have compressed a bit," said Brian Gendreau, investment strategist for ING Investment Management. "Earnings cannot continue at a double-digit rate forever."

But he added that so far, earnings have been coming in better than expected. A big reason, he said, is that nearly half the revenue from the 30 Dow components comes from foreign countries -- growth was in many of those countries was faster than it was in the United States.

One of the few Dow components to release its earnings before next week's rush, General Electric Co. rose 20 cents to $35.38 after it posted first-quarter results that matched Wall Street projections. However, the conglomerate said profit in one of its businesses was "tempered" by its U.S. mortgage business because of subprime loans -- a weak spot in the economy that has led to some big dips on Wall Street in recent months.

Technology stocks initially weakened Friday when Samsung Electronics Co., the world's largest memory chip maker, said its profit declined for a second straight quarter amid falling computer chip prices. Also weighing on the tech sector, Apple Inc. said it would delay the release of Leopard, the next upgrade of its Mac operating system, until October. Apple fell $1.95, or 2.1 percent, to $90.24.

But keeping alive enthusiasm about takeover activity, Morgan Stanley bought 13 hotels from Japanese carrier All Nippon Airways Co. for about $2.4 billion. The deal roughly doubles the investment bank's portfolio of hotels in Japan. Morgan Stanley slipped 8 cents to $79.99.

Also, SLM Corp., the biggest U.S. provider of student loans that is better known as Sallie Mae, is in talks with buyout firms and may be bought for more than $20 billion, according to a report in The New York Times. Its stock soared $6.01, or 14.8 percent, to $46.76.

Advancing issues outnumbered decliners by nearly 5 to 3 on the New York Stock Exchange, where consolidated volume came to 2.57 billion shares, down from 2.75 billion Thursday.

The Russell 2000 index of smaller companies rose 4.33, or 0.53 percent, to 819.38.

Overseas, Japan's Nikkei stock average fell 1.01 percent. Britain's FTSE 100 climbed 0.72 percent, Germany's DAX index added 0.97 percent, and France's CAC-40 was rose 0.70 percent.

The Dow Jones industrial average ended the week up 51.93, or 0.41 percent, at 12,612.13. The Standard & Poor's 500 index rose 9.09, or 0.83 percent, at 1,452.85. The Nasdaq composite index rose 20.60, or 0.83 percent, to 2,491.94.

The Russell 2000 index closed the week up 6.03, or 0.74 percent, at 819.38.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies-- ended the week at 14,736.44, up 96.06 points from last week. A year ago, the index was at 13,065.26.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## Wysiwyg

I thought the DOW would have a downer but it`s off to a flyer.The swingers `l be lookin` for entry .


----------



## nizar

Wysiwyg said:


> I thought the DOW would have a downer but it`s off to a flyer.The swingers `l be lookin` for entry .




Yep the DOW up by 85pts and into blue skies (beyond feb27 highs).


----------



## Edwood

April 14, 2007

Technical Market Report
by Mike Burk

The good news is:
• The S&P mid cap index (MID) hit an all time high Friday.
• Next week is seasonally one of the strongest weeks of the year.

On average, next week has been remarkably strong. Since 1963 the OTC has been up 82% of the time while the SPX has only been down once, in 1987, giving it a 92% winning record. Both indices have had an average return in excess of 1% for the week.


----------



## bigdog

The NYSE DOW closed HIGHER by 108 points on Monday 16:

Symbol ----- Last --- Change 
Dow 12,720.46  +108.33 (0.86%) 
Nasdaq 2,518.33  +26.39 (1.06%) 
S&P 500 1,468.47  +15.62 (1.08%) 
10-Yr Bond 4.735%   +0.026 
NYSE Volume 2,872,288,000 
Nasdaq Volume 1,849,138,000 

http://biz.yahoo.com/ap/070416/wall_street.html?.v=43

Stocks Rise Amid Profit, Economic News
Monday April 16, 6:21 pm ET 
By Tim Paradis, AP Business Writer  
Wall Street Up Following Citigroup Profit Report, Retail Sales Data 


NEW YORK (AP) -- Wall Street began the week with a strong start Monday as better-than-expected profits at Citigroup Inc. and a healthy increase in consumer spending renewed investors' optimism about the economy. The Dow Jones industrials soared more than 100 points. 

Earnings reports begin arriving at a steady clip this week, giving investors fresh indications about companies and the overall economy. This week nearly half the 30 companies that make up the Dow industrials report results.

While investors have been girding for a slowdown in growth of corporate profits, they are hoping consumer spending will remain robust. The Commerce Department on Monday reported that consumers spent strongly last month, sending retail sales up by about 0.7 percent. The figure was close to what analysts predicted, and up from a revised 0.5 percent increase in February.

Investors were also pleased by news of a buyout of SLM Corp., the student lender better known as Sallie Mae. SLM agreed to be sold to two private investment funds and J.P. Morgan Chase & Co. and Bank of America Corp. for $25 billion, or $60 per share. Sallie Mae rose $8.29, or 17.7 percent, to $55.05.

But analysts warned that Wall Street's good humor was unlikely to last. Robert N. Schaeffer, portfolio manager at Becker Value Equity Fund, contends that a pop in stocks is typical when earnings reports begin to flow in and are better than expected.

"The positive reaction to the earnings tends to be short-lived traditionally," he said. "There is also a tendency for companies with better earnings reports to report early. The companies that are going to disappoint tend to drag their feet a bit."

The Dow Jones industrial average rose 108.33, or 0.86 percent, to 12,720.46. The Dow's increase Monday put the blue chip average back above where it stood before the major U.S. indexes fell more than 3 percent on Feb. 27 as part of a worldwide selloff. The Dow is within about 66 points of its all-time closing high of 12,786.64, reached Feb. 20.

Broader stock indicators also rose. The Standard & Poor's 500 index rose 15.62, or 1.08 percent, to 1,468.47, a six-and-a-half-year high. The Nasdaq composite index rose 26.39, or 1.06 percent, to 2,518.33.

Bonds advanced, with the yield on the benchmark 10-year Treasury note falling to 4.74 percent from 4.77 percent late Friday. The dollar traded near all-time lows versus the euro, and was mostly lower against other major currencies.

Oil prices fell Monday, with a barrel of light sweet crude settling down 2 cents at $63.61 on the New York Mercantile Exchange. Gold prices rose.

Economic reports competed with earnings news for investors' attention Monday. The Commerce Department reported businesses increased their inventories by 0.3 percent in February, the largest increase in five months. The New York Federal Reserve also reported that its regional manufacturing activity expanded slightly in April, with the overall index rising to a reading of 3.80 from an unrevised reading of 1.85 in March. Also, the National Association of Home Builders' index -- a measure of confidence of U.S. homebuilders -- fell to 33 from 36 in March for sales of new, single-family homes.

Investors greeted earnings news enthusiastically as they were eager to see how well corporate earnings would hold up. Wall Street anticipates the reports will indicate that corporate growth slowed in the first three months of 2007 compared with previous quarters. Standard & Poor's recent estimate of first-quarter earnings growth for S&P 500 companies is 3.8 percent.

Investor sentiment about earnings can be easily swayed, however, as one bad report has in the past soured Wall Street's mood about the overall corporate profit picture.

Citigroup, the largest U.S. financial institution, said its first-quarter profit fell by 11 percent, but the results included a charge to cover a massive restructuring. Excluding that charge, increased revenue helped push profits above expectations. Citigroup, the best performer in the Dow, rose $1.33, or 2.6 percent, to $52.93. The report buoyed financials stocks, which make up the largest slice of the S&P 500 components. Lehman Brothers Inc. rose $3.67, or 5.1 percent, to $75.89, while Goldman Sachs Group Inc. advanced $8.02, or 3.9 percent, to $214.52.

Wachovia Corp., the nation's fourth-largest bank, reported a rise in profits that surpassed Wall Street's expectations -- which along with Citigroup's results appeared to reassure some investors that the large U.S. banks are faring better than anticipated, despite trouble in the subprime lending sector. Wachovia rose $1.06 to $55.06.

Eli Lilly & Co.'s first-quarter profit fell 39 percent. After adjusting for certain items, the company's profit came in above expectations. The drug maker also reported a rise in revenue, and raised its full-year sales and earnings guidance. The stock rose $1.52, or 2.7 percent, to $58.40.

Mattel Inc., the world's largest toy company, said its first-quarter profit fell 60 percent, because the year-earlier period benefited from a large settlement; the results beat the average forecast, however. Mattel fell 24 cents to $28.10.

In other corporate news, Fremont General Corp. said it is planning to sell its residential real estate business and about $2.9 billion in subprime residential mortgages at a loss. The moves will effectively shut the company, which rose $1.83, or 25.7 percent, to $8.88.

Advancing issues outnumbered decliners by more than 2 to 1 on the New York Stock Exchange, where volume came to 1.55 billion shares compared with 1.41 billion shares traded Friday.

The Russell 2000 index of smaller companies rose 12.06, or 1.47 percent, to 831.44.

Overseas, Japan's Nikkei stock average closed up 1.52 percent. Britain's FTSE 100 closed up 0.83 percent, Germany's DAX index rose 1.75 percent, and France's CAC-40 advanced 1.25 percent.

The sometimes-volatile Shanghai Composite Index, whose nearly 9 percent decline Feb. 27 helped touch off the global pullback, rose 2.22 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Lets hope the All Ords increases today.

The local market yesterday was disappointing with Mondays Dow increasing 108 points and Tuesdays all ords dropping 17 points

The NYSE DOW closed HIGHER by 52 points on Tuesday 17:

Symbol ----- Last --- Change 
Symbol Last Change 
Dow 12,773.04  +52.58 (0.41%) 
Nasdaq 2,516.95  -1.38 (0.05%) 
S&P 500 1,471.48  +3.01 (0.20%) 
10-Yr Bond 4.6880%   -0.0470 
NYSE Volume 2,920,592,000 
Nasdaq Volume 2,016,685,000

http://biz.yahoo.com/ap/070417/wall_street.html?.v=42
Stocks Up on Inflation, Housing Data
Tuesday April 17, 6:14 pm ET 
By Madlen Read, AP Business Writer  
U.S. Stocks Higher After Inflation Data, Rise in Housing Starts 


NEW YORK (AP) -- Wall Street traded mostly higher Tuesday, briefly pushing the Dow Jones industrials into record territory after a rise in home construction and a mild reading on consumer inflation encouraged investors to buy.

The technology-dominated Nasdaq composite index and the Russell 2000 index of smaller companies slipped, showing that most of the stock market's gains were isolated in larger companies that are more impervious to economic stumbles.

Many investors were heartened by the Commerce Department's report that March housing starts rose 0.8 percent -- a feeble rise compared with February's 7.6 percent advance, but much better than the drop investors expected. Building permits also rose. Stocks have had many tumultuous weeks this year due to worries about the financial troubles of the subprime lending sector spilling into the already sluggish housing market.

Giving investors some additional relief, the Labor Department's core consumer price index rose 0.1 percent in March, less than expected, and alleviating some anxiety about the Federal Reserve's need to raise interest rates to curb costs. The overall consumer price index, which takes into account energy and food, rose 0.6 percent in March -- the largest increase in 11 months -- and was in line with expectations.

Some investors doubt that Wall Street's optimism will last.

"I think this is sort of a weak relief rally," said Ed Peters, chief investment officer at PanAgora Asset Management Inc. in Boston. "It's nice that the core level of inflation came in lower than expected, but the headline rate is what people live on. ... There are still problems out there."

The Dow traded as high as 12,790.02, passing its closing high of 12,786.64 set Feb. 20, and approached its trading high of 12,795.93, reached the same day.

The Dow rose 52.58, or 0.41 percent, to 12,773.04. Gains in Coca-Cola Co. and Johnson & Johnson, which reported earnings earlier in the day that exceeded expectations, gave the blue chip index its 13th rise out of the last 14 sessions.

Broader stock indicators were mixed. The Standard & Poor's 500 index rose 3.01, or 0.20 percent, to 1,471.48, while the Nasdaq composite index fell 1.38, or 0.05 percent, to 2,516.95.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where volume came to 1.57 billion shares.

Bonds rose following the inflation data, which could give the Fed more room to lower rates. Also heightening that possibility, the Federal Reserve reported Tuesday that March utility production dropped by 7 percent, offsetting a rise in factory production. The yield on the benchmark 10-year Treasury note fell to 4.69 percent from 4.74 percent.

Gold prices slipped. The dollar neared all-time lows versus the euro, and dropped to a 15-year low against the British pound. The dollar's weakness has been brought on by the U.S. economy and interest rates rising less than in other countries.

The stock market has been showing strength heading into the first-quarter earnings season. Nearly half the component companies of the Dow Jones industrial average release earnings this week. Analysts expect the reports to show corporate growth is slowing, but so far this week, many companies' financial results have surpassed forecasts.

Coca-Cola, the world's largest drink maker and one of the 30 Dow components, said Tuesday its first-quarter profit jumped 14 percent. The rise beat analyst expectations, thanks to a double-digit increase in worldwide sales despite its troubled North America segment. Coca Cola rose $1.30, or 2.6 percent, to $51.57.

U.S. companies can benefit from markets abroad, despite slowing U.S. growth, market participants say.

"The foreign economies are now large enough and strong enough that they'll be able to help us," said Joe Balestrino, a portfolio manager at Federated Investors Inc.

Another Dow component, health care products maker Johnson & Johnson, reported a profit drop of 22 percent due to a charge for an acquisition that more than offset record sales. But the results beat forecasts and the company rose $1.53, or 2.4 percent, to $64.55.

The financial sector posted mixed earnings, but shares fell throughout the sector. Mellon Financial Corp.'s profits rose and exceeded expectations, as did those of Wells Fargo & Co. But TD Ameritrade Holding Corp.'s profits dropped and missed predictions, and so did U.S. Bancorp's. Mellon fell 2 cents to $44.12; Wells Fargo fell 26 cents to $35.25; TD Ameritrade fell $1.56, or 9.3 percent, to $15.31; and U.S. Bancorp slipped 34 cents to $34.56.

Crude oil prices fell 51 cents to settle at $63.10 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies slipped 2.48, or 0.30 percent, to 828.96. The index reached an intraday high of 831.71 during the session.

Overseas, Japan's Nikkei stock average fell 0.57 percent. Britain's FTSE 100 fell 0.28 percent, Germany's DAX index rose 0.15 percent, and France's CAC-40 fell 0.07 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The Dow Jones industrial average closed above 12,800 for the first time Wednesday, signaling Wall Street's recovery from its steep decline in February as investors rewarded companies with strong earnings.

The NYSE DOW closed HIGHER by 30 points on Wednesday 18:
Symbol ----- Last --- Change 
Symbol Last Change 
Dow 12,803.84  +30.80 (0.24%) 
Nasdaq 2,510.50  -6.45 (0.26%) 
S&P 500 1,472.50  +1.02 (0.07%) 
10-Yr Bond 4.6540%   -0.0340 
NYSE Volume 2,972,168,000 
Nasdaq Volume 2,122,164,000

http://biz.yahoo.com/ap/070418/wall_street.html?.v=53
Dow Closes Above 12,800 for First Time
Wednesday April 18, 6:12 pm ET 
By Madlen Read, AP Business Writer  
The Dow Jones Industrials Closed Above 12,800 for First Time in Mixed Session on Wall Street 

NEW YORK (AP) -- The Dow Jones industrial average closed above 12,800 for the first time Wednesday, signaling Wall Street's recovery from its steep decline in February as investors rewarded companies with strong earnings.

The day was not a standout for the overall market, however. Technology stocks lagged following disappointing earnings from leaders including Yahoo Inc.

The Dow moved as high as 12,838.46 before slipping back slightly to close at 12,803.84, up 30.80, or 0.24 percent. The Dow broke records set on Feb. 20, one week before the average tumbled 416 points in a worldwide selloff.

As only 11 of the 30 stocks in the blue chip index advanced, the Dow's gain Wednesday came from strength in stocks like JP Morgan Chase & Co., Boeing Co. and Caterpillar Inc.

JPMorgan lifted the Dow after the bank reported a 55 percent jump in profits that far surpassed Wall Street's expectations. The companies that make up the Dow -- nearly half of which report earnings this week -- have been mostly beating the Street's predictions.

Broader stock indicators finished mixed. The Standard & Poor's 500 index rose 1.02, or 0.07 percent, to 1,472.50, but the Nasdaq composite index fell 6.45, or 0.26 percent, to 2,510.50.

Bond prices rose for the third straight session as investors grew optimistic that the Federal Reserve won't raise interest rates. The yield on the benchmark 10-year Treasury note fell to 4.66 percent from 4.69 percent late Tuesday. Gold prices also advanced.

Investors pulled back from tech stocks after Yahoo posted a surprising 11 percent drop in its first-quarter profit. Disappointing results from International Business Machines Corp. and Motorola Inc. added to the selling.

Mike Malone, a trading analyst at Cowen & Co., said results from Yahoo stunted some of the market's appetite for technology issues. However, he dismissed the notion that Yahoo's earnings marked the start of a trend for first-quarter reports.

"There have been some company-specific issues out there, but they really aren't indicative of the underlying earnings environment," he said.

Wall Street was uneasy about a sharp drop in the dollar, which is now at 26-year lows against the British pound and a two-year low against the euro. The U.S. currency has weakened because interest rates have remained steady since the summer and amid signs of a slowing U.S. economy.

Light, sweet crude settled up 3 cents at $63.13 per barrel on the New York Mercantile Exchange as a government report showed a bigger-than-expected decline in gasoline inventories. The U.S. Energy Information Administration said stockpiles dropped 2.7 million barrels to 197 million barrels.

Charlie White, chief investment officer of the ThomasLloyd Funds, said that while overall earnings have been good, investors appear to still be waiting further signs about where the economy is headed.

"It's one of these periods of time that you don't have any compelling evidence either way and what you need to do is stay focused and be patient," he said. "I ask myself the question, 'Is this the beginning of a leg up in a bull market, or is this a last gasp?'"

Investors are focused on earnings reports as they look for a direction in stocks. S&P has predicted earnings for companies in the S&P 500 grew less than 4 percent in the first quarter, much less than in previous quarters.

Yahoo plunged $3.78, or 11.8 percent, to $28.31 after the Internet portal reported disappointing results late Tuesday. The results left Wall Street wondering how much longer it will take the company to regain its financial footing after it stumbled through most of 2006.

Pressure was felt elsewhere in the tech sector. IBM posted disappointing results late Tuesday, and its shares dropped $2.32, or 2.4 percent, to $94.80. Hard driver maker Seagate Technology LLC fell 85 cents, or 3.8 percent, to $21.30 after it reported profit fell 22 percent in the first quarter, and lowered its forecast.

Motorola reported a first-quarter loss due to sluggish sales, and charges to cover a legal settlement and restructuring efforts. However, sales surpassed expectations and the stock rose 27 cents to $18.22.

Medical device maker Abbott Laboratories Inc. fell 97 cents to $58.03 after it said its first-quarter profit fell 19 percent. The results excluding certain items, however, beat analyst estimates.

JPMorgan rose $1.89, or 3.8 percent, to $52.07 after the nation's third-largest bank reported a 55 percent increase in profits. The New York-based bank said first-quarter results were boosted by strength across its primary business lines, though it did increase reserves to offset subprime mortgage losses.

Declining issues led advancers 9 to 7 on the New York Stock Exchange, where consolidated volume came to 2.93 billion shares compared with volume of 2.89 billion shares traded Tuesday.

The Russell 2000 index of smaller companies fell 4.58, or 0.55 percent, to 824.38.

Overseas, Japan's Nikkei stock average closed up 0.80 percent. Britain's FTSE 100 finished down 0.74 percent, Germany's DAX index fell 0.90 percent, and France's CAC-40 dropped 0.38 percent.

South Korean and Australian stocks hit new records Wednesday, while the sometimes-volatile Shanghai Composite index edged up 0.01 percent. It was a nearly 9 percent drop in the Shanghai Composite index on Feb. 27 that helped trigger the day's global selloff. Indexes like the Shanghai Composite, however, took less time to resume hitting highs than did major U.S. indexes.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## Edwood

*SAN FRANCISCO (MarketWatch) -- *EBay Inc. said Wednesday its first-quarter profit surged 52%, helped by higher average selling price of goods sold on its auction site and sharp growth in its online payment business.

Shares of eBay rose as much as 5% in late trading after the results were released.


----------



## bigdog

The NYSE DOW closed HIGHER by 4 points on Thurdsay 19:

Symbol ----- Last --- Change 
Dow 12,808.63  +4.79 (0.04%) 
Nasdaq 2,505.35  -5.15 (0.21%) 
S&P 500 1,470.73  -1.77 (0.12%) 
10-Yr Bond 4.6700%   +0.0160 
NYSE Volume 2,981,996,000 
Nasdaq Volume 2,157,968,000

http://biz.yahoo.com/ap/070419/wall_street.html?.v=64
Stocks Flat on Economic, Earnings News
Thursday April 19, 6:44 pm ET 
By Tim Paradis, AP Business Writer  
Wall Street Finishes Flat Amid Mixed Economic, Earnings Data, Drop in Chinese Stocks 


NEW YORK (AP) -- Wall Street closed essentially flat Thursday after struggling to resume a modest upward trend while investors juggled upbeat economic data, divergent earnings reports and a pullback in Chinese stocks. The Dow Jones industrials edged higher to a record close for the second straight day. 

While a mix of profit reports pushed and tugged at stocks Thursday, investors also watched markets abroad, where stocks fell following word that economic growth in China's first quarter jumped a higher-than-expected 11.1 percent and inflation increased at the fastest pace in more than two years. Chinese officials said they would take steps such as raising interest rates to curb growth.

Wall Street fell at the opening, then began to pare its losses after a research group said its barometer of future economic activity rose slightly in March, signaling modest growth in coming months. The Conference Board said its index of leading economic indicators rose 0.1 percent, as expected, to 137.4 in March. The reading follows two straight months of declines.

The Dow rose 4.79, or 0.04 percent, to 12,808.63 -- its sixth straight gain. On Wednesday, the Dow reached fresh trading and closing highs, perhaps signaling a recovery from a late February pullback that was in part triggered by a selloff on the Chinese market. Wednesday's trading high of 12,838.46 and that session's close broke records set Feb. 20.

Broader market indicators dipped Thursday. The Standard & Poor's 500 index fell 1.77, or 0.12 percent, to 1,470.73, a day after the S&P hit a 6 1/2-year high. The Nasdaq composite index fell for the third straight session, slipping 5.15, or 0.21 percent, to 2,505.35.

Bond prices fell after three straight sessions of gains following the release of decent economic data and some robust earnings reports. The yield on the benchmark 10-year Treasury note rose to 4.67 percent from 4.66 percent late Wednesday.

China's sometimes volatile Shanghai Composite Index tumbled 4.5 percent Thursday. However, its decline wasn't as steep as the nearly 9 percent drop Feb. 27 that touched off the worldwide sell-off and shaved more than 3 percent from the major U.S. indexes that day. Stocks in Europe fell Thursday, though at more modest levels than in Asia.

Japan's Nikkei stock average fell 1.67 percent. Britain's FTSE 100 closed down 0.14 percent, Germany's DAX index declined 0.54 percent, and France's CAC-40 slipped 0.12 percent.

Most major U.S. companies -- even those reporting drops in first-quarter profits -- have been exceeding the forecasts of analysts, who lowered their expectations after the stock market plunged in late February amid worries about tumbling markets overseas, the weakening dollar, a slowing economy and financial troubles among subprime lenders, which make loans to those with poor credit.

EBay Inc. fell $1.26, or 3.7 percent, to $33.19 Thursday, after the online auctioneer posted a 52 percent surge in its first-quarter earnings in part due to lower taxes and a decrease in outstanding shares.

Nokia Corp., the world's largest mobile phone maker, said its first-quarter net profit declined by 6.6 percent amid slipping handset prices. However, it said its share of the global mobile phone market increased. Nokia advanced 78 cents, or 3.3 percent, to $24.65.

Merrill Lynch & Co. said first-quarter profits soared from a year earlier, when the nation's largest retail brokerage booked a charge related to compensation expenses. Merrill rose 55 cents to $90.11.

Dow component Merck & Co. said its first-quarter profit jumped 12 percent as the drug company saw higher sales and sold off some products. Merck rose 46 cents to $50.15.

Another drug maker, Schering-Plough Corp. said its first-quarter profit soared 55 percent, boosted by strong demand for its Remicade drug and other products; its results beat Wall Street's forecast. Schering-Plough rose $2.45, or 8.6 percent, to $31.

Another one of the 30 stocks that make up the Dow industrials, Altria Group Inc., said its first-quarter profit fell 21 percent as it saw weakness in domestic cigarette sales. The parent of Philip Morris raised its full-year earnings forecast, however, which could offset some concern about the quarter's results. Altria fell 68 cents to $69.40.

Intel Corp. was the biggest gainer in the Dow, rising 46 cents, or 2.2 percent, to $21.81, after an analyst upgrade.

UnitedHealth Group Inc., the nation's second-largest health insurer, fell $2.16, or 4 percent, to $52.05, after the company recorded payments related to its stock options problems and lackluster enrollment in Medicare-related programs.

In other economic data Thursday, the Labor Department said weekly applications for unemployment benefits slipped by 4,000 to 339,000 after hitting a two-month high a week earlier. Weekly figures can be volatile and the overall unemployment rate remains low. In March, it fell to 4.4 percent, flat with a five-year low.

Investors appeared unconcerned by a report from the Philadelphia Federal Reserve that showed a weaker-than-expected increase in regional manufacturing.

Light, sweet crude settled down $1.30 at $61.83 per barrel on the New York Mercantile Exchange.

Gold prices edged lower, while the dollar slipped against the euro and the British pound. The euro is near an all-time high against the dollar and the British pound is trading at 26-year highs versus the U.S. currency.

Declining issues outnumbered advancers by about 2 to 1 on the New York Stock Exchange, where consolidated volume came to 2.94 billion shares compared with 2.93 billion shares traded Wednesday.

The Russell 2000 index of smaller companies fell 5.06, or 0.61 percent, to 819.32.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 153 points on Friday 20:

Symbol ----- Last --- Change 
Dow 12,961.98  +153.35 (1.20%) 
Nasdaq 2,526.39  +21.04 (0.84%) 
S&P 500 1,484.35  +13.62 (0.93%) 
10-Yr Bond 4.67%   0.00 
NYSE Volume 3,366,091,000 
Nasdaq Volume 2,160,998,000

http://biz.yahoo.com/ap/070420/wall_street.html?.v=58

*Stocks Surge, Dow Closes Near 13,000*
Friday April 20, 6:00 pm ET 
By Joe Bel Bruno, AP Business Writer  
Stocks Advance Sharply After Google Profit Beats Expectations, Dow Pushes Toward 13,000 


NEW YORK (AP) -- Wall Street bounded higher Friday, hurtling the Dow Jones industrial average to a record close approaching 13,000 as investors celebrated a week of surprisingly strong earnings reports. The major indexes all had their third straight winning week, their longest such streak since October. 

Investors who had tempered their expectations for first-quarter earnings on Monday were energized by the initial wave of upbeat results. So far into the earnings season, 16 of the 30 Dow components have posted financial results for the first three months of the year -- with 10 surpassing analyst forecasts. Dow components Honeywell International Inc., Caterpillar Inc., Pfizer Inc., and McDonald's Corp. all reported earnings Friday.

Better-than-expected results allowed stocks to extend their best April rally in four years, and one that pushed the Nasdaq composite index and the Standard & Poor's 500 index to six-year highs.

"It's not a matter of 13,000 for the Dow, we could be looking at 14,000 by the end of the year," said Robert Froehlich, chief investment strategist for investment firm DWS Scudder. "There's too much money out there chasing too few companies. This story isn't ending anytime soon."

The Dow closed up 153.35, or 1.20 percent, at 12,961.98, after setting a new intraday high of 12,966.29. The blue chip index -- now about 38 points shy of 13,000 -- has hit 34 record closes since the beginning of October last year.

The S&P 500 index soared 13.62, or 0.93 percent, to 1,484.35, and the Nasdaq rose 21.04, or 0.84 percent, to 2,526.39.

For the week, the Dow surged 2.8 percent, the S&P 500 added 2.2 percent, and the Nasdaq rose 1.4 percent. Advancing issues outnumbered decliners by more than 3 to 1 on the New York Stock Exchange, where volume came to 1.95 billion shares.

Bonds held steady as many investors focused on stocks. The yield on the benchmark 10-year Treasury note was unchanged at 4.67 percent. The dollar was mostly lower against other major currencies, while gold prices spiked.

Oil prices rose ahead of the presidential election in Nigeria, which is Africa's top producer of crude. A barrel of light sweet crude rose $1.55 to settle at $63.38 on the New York Mercantile Exchange.

Wall Street's advance this week signaled its recovery from the Feb. 27 worldwide plunge in stocks that sliced 416 points from the Dow. On Wednesday, the blue chips set their first new closing and intraday highs since Feb. 20.

The February skid was caused in part by concerns that China's economic growth might be curbed; the Shanghai stock market led the rest of the world lower. This week, Chinese stocks seesawed amid continuing concerns, but Wall Street suffered little damage.

The abundance of relatively benign U.S. economic data released this week contributed to investors' buying mood. New data indicated that builders picked up the pace of construction of new homes last month, and that there was a modest increase in core inflation.

Federal Reserve Governor Frederic Mishkin said in a speech Friday it might take a couple of years for inflation to ease toward levels that the Fed is comfortable with, which could mean that the central bank won't be cutting rates anytime soon.

Either way, Wall Street theorized this week that central bankers did not see enough evidence in recent reports to force a policy change. And that set up earnings to be a key catalyst for stocks.

"The main impetus has been, most of the bears and the gloom-and-doomers thought that first-quarter earnings would stink. Once again, the gloomy Guses have been proven wrong," said Alfred E. Goldman, chief market strategist at A.G. Edwards & Sons Inc. in St. Louis.

Google gave a boost to technology stocks after it reported late Thursday a 69 percent jump in first-quarter profit to exceed analyst expectations. The results helped reassure some investors who had grown cautious about tech growth, and sent Google up $10.83, or 2.3 percent, to $482.48.

Caterpillar was the Dow's biggest mover after the manufacturer of heavy equipment posted better-than-expected quarterly profit and issued robust profit guidance. Shares rose $3.20, or 4.7 percent, to $71.82.

Honeywell International rose $2.34, or 4.8 percent, to $51.40 after the industrial conglomerate topped Wall Street projections.

McDonald's reported quarterly profit rose 22 percent, but its shares dipped 42 cents to $48.36. Pfizer reported one-time charges that pushed profit lower by 18 percent, but the results beat expectations. The stock fell 10 cents to $26.97.

American Express Co. rose $2.05, or 3.5 percent, to $61.00 after first-quarter profit toppled Wall Street expectations. The nation's third-largest credit card brand said the period was driven by higher spending and more cards issued.

In acquisition news, H&R Block Inc. said it will sell its troubled Option One Mortgage Corp. to an affiliate of Cerberus Capital Management LP. Shares of the tax preparer rose 73 cents, or 3.3 percent, to $22.56.

Clear Channel Communications Inc. fell 21 cents to $35.75 after it announced the sale of its television group to a private equity firm for about $1.2 billion.

The Russell 2000 index of smaller companies was up 9.54, or 1.16 percent, at 828.85.

Overseas, Japan's Nikkei stock average closed up 0.42 percent. Britain's FTSE 100 was up 0.72 percent, Germany's DAX index rose 1.38 percent, and France's CAC-40 advanced 1.88 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 42 points on Monday 23:

Symbol ----- Last --- Change 
Dow 12,919.40  -42.58 (0.33%) 
Nasdaq 2,523.67  -2.72 (0.11%) 
S&P 500 1,480.93  -3.42 (0.23%) 
10-Yr Bond 4.6500%   -0.0220 
NYSE Volume 2,610,247,000 
Nasdaq Volume 2,012,985,000 

http://biz.yahoo.com/ap/070423/wall_street.html?.v=53
Stocks Fall, Dow Retreats From 13,000
Monday April 23, 5:51 pm ET 
By Madlen Read, AP Business Writer  
Wall Street Retreats on Rising Oil Prices After Dow Nears 13,000 Mark 

NEW YORK (AP) -- Stocks retreated from historically lofty levels Monday as rising oil prices chilled investor enthusiasm for strong earnings reports and new takeover activity. The Dow Jones industrials came within 17 points of 13,000 before pulling back. 

The blue chip index hit a new trading high of 12,983.92 after British bank Barclays PLC said it will acquire Dutch bank ABN Amro NV for $91.16 billion, and British drugmaker AstraZeneca PLC said it will buy U.S. drugmaker MedImmune Inc. for $15.6 billion. Though the U.S. economy has been slowing and the dollar has been weakening, global takeover activity remains robust, giving investors reason to believe U.S. companies will keep finding ways to pull in profits.

But the market was still vulnerable to a downturn. Corporate growth is slower than it has been in years, though, and investors grew cautious as they awaited more clues about the direction of the economy. And so Monday, a spike in crude oil prices above $65 a barrel reignited inflation worries, and reminded Wall Street that other economic obstacles exist as well, such as a weak dollar and slow housing market.

Analysts said investors were trading deliberately -- and avoided succumbing to pre-13,000 euphoria. Although the Dow passed 12,000 only last October, there appeared to be little of the kind of frenzy that drove the market's major indexes to record after record during the dot-com boom.

"Anytime you approach a new milestone -- especially 13,000, which is a psychological barrier -- it's not going to happen overnight. It's going to take some time," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners Inc. "The market has gone up on earnings, and the earnings story has already been factored in .... There are a lot of negative things out there that the market has been ignoring."

The Dow Jones industrial average fell 42.58, or 0.33 percent, to 12.919.40. On Friday, the Dow rose more than 150 points to 12,961.98, posting its seventh straight gain and third straight record close. The blue chip index appears to have recovered from its stumble in late February, and has hit 34 record closes since the beginning of October last year.

The broader Standard & Poor's 500 index fell 3.42, or 0.23 percent, to 1,480.93. The index is about 3 percent away from its record close of 1,527.46, reached in March 2000.

The technology-dominated Nasdaq composite index lost 2.72, or 0.11 percent, to 2,523.67. It stands at about half its record closing level of 5,048.62, also reached in March 2000.

Bonds rose as stocks fell. The yield on the benchmark 10-year Treasury note fell to 4.65 percent from 4.67 percent late Friday.

Crude oil prices climbed $1.65 to $65.76 a barrel on the New York Mercantile Exchange on growing concerns that oil supplies could be disrupted as violence escalates in Nigeria.

Gold prices slipped. The dollar rose slightly against the euro and British pound, but is still trading at historically low levels versus those currencies.

The dollar's recent drop is not necessarily bad for the U.S. economy; it makes U.S. goods comparatively cheaper and therefore more attractive to foreign importers. However, a weaker dollar reduces its allure as an investment currency, especially as interest rates rise in other countries.

Corporate profits have been cooling after more than three years of double-digit growth, but nonetheless have been generally stronger than expected so far this earnings season.

After the closing bell, Texas Instruments Inc. issued better-than-expected first-quarter results. Shares closed down 9 cents at $32.41 in the regular session, but surged 8.6 percent to $35.20 in after-hours trading.

Other earnings reports from companies including Hasbro Inc., Novartis SA and Kimberly-Clark Corp. came in strong.

Hasbro rose $2.33, or 7.7 percent, to $32.54, while U.S. shares of Novartis fell 39 cents to $57.44.

Kimberly-Clark fell 84 cents to $71.10.

Merger-and-acquisition activity continues to surge. Barclays' buy of ABN Amro would be the world's biggest bank deal, and will lead to ABN Amro selling its U.S. unit, LaSalle Bank, to Bank of America Corp. for $21 billion. Bank of America fell 53 cents to $50.51.

MedImmune, AstraZeneca's takeover target, rose $8.56, or 17.8 percent, to $56.57. AstraZeneca fell $3.13, or 5.3 percent, to $55.91.

Later this week, investors will see results from six more of the Dow component companies, as well as data on the housing market, durable goods, gross domestic product and consumer confidence.

"We still have quite a bit of earnings news this week. Generally, that's going to be positive. As long as the economic data falls in line, we should still continue to push prices higher," said Jack Ablin, chief investment officer at Harris Private Bank.

Advancing issues narrowly outnumbered decliners on the New York Stock Exchange, where consolidated volume came to 2.56 billion shares, down from 3.29 billion on Friday.

The Russell 2000 index of smaller companies fell 1.31, or 0.16 percent, to 827.55.

Overseas, China's Shanghai Composite Index rose 3.5 percent and Japan's Nikkei stock average gained 0.02 percent. Britain's FTSE 100 dropped 0.11 percent, Germany's DAX index slipped 0.09 percent, and France's CAC-40 lost 0.36 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed Higher by 34 points on Tuesday 24:

Symbol ----- Last --- Change 
Dow 12,953.94  +34.54 (0.27%) 
Nasdaq 2,524.54  +0.87 (0.03%) 
S&P 500 1,480.41  -0.52 (0.04%) 
10-Yr Bond 4.62%   -0.03 
NYSE Volume 3,192,368,000 
Nasdaq Volume 2,339,467,000

http://biz.yahoo.com/ap/070424/wall_street.html?.v=48
Stocks Recover, Close Mixed on Earnings
Tuesday April 24, 5:41 pm ET 
By Joe Bel Bruno, AP Business Writer  
Stocks Recover, Close Higher As Investors Focus on Strong Earnings, Look Past Housing Data 

NEW YORK (AP) -- Wall Street was mixed Tuesday, recovering from an early loss as investors shrugged off disappointing housing and consumer confidence data to focus on stronger-than-expected quarterly earnings. The Dow Jones industrials set a new trading high, and resumed their trek toward 13,000. 

The market picked up momentum in mid-afternoon. Investors seemed to lose some of the earlier caution they adopted after the National Association of Realtors reported sales of existing homes in March had their biggest one-month decline since January 1989. Also, the Conference Board reported consumer confidence fell more than expected in April due to higher gas prices and broader economic concerns.

Robust first-quarter earnings reports have been driving the market higher over the past week, allowing the Dow to approach 13,000, and there were more upbeat results cheering the market on Tuesday: from U.S. military contractor Lockheed Martin Corp., Dow industrials AT&T Inc. and Dupont Co., and chip maker Texas Instruments Inc.

"A general optimistic tone related to better-than-expected earnings is what's moving it," said Richard E. Cripps, chief market strategist for Stifel Nicolaus, a broker based in St. Louis. However, "it's not a market that's necessarily very broad in its advance."

He pointed out that the Dow's strong gains in afternoon trading were driven by only a few companies, notably International Business Machines Corp. and Honeywell International Inc., which both made dividend announcements. Also, there were much smaller moves in the broader Standard & Poor's 500 and Nasdaq composite indexes -- which so far this year have risen by greater percentages than the Dow.

The Dow rose 34.54, or 0.27 percent, to 12,953.94. The index set a new intraday high of 12,989.86, less than 11 points away from 13,000.

Broader markets were mixed. The S&P 500 index was down 0.52, or 0.03 percent, at 1,480.41, and the Nasdaq rose 0.87, or 0.03 percent, to 2,524.54.

The Nasdaq is slightly above the halfway point to its record close of 5,048.62, while the S&P is just 3 percent below its record close of 1,527.46. Both records were reached in March 2000, at the end of the dot-com boom.

"Where I think you'll get a lot more excitement is when the S&P pushes past the 2,000 level. That's going to be a real event," Cripps said.

Investors weren't buying with abandon: Declining issues outnumbered advancers Tuesday by about 3 to 2 on the New York Stock Exchange, where consolidated volume came to 3.11 billion shares, up from Monday's 2.56 billion.

"Everyone is remembering where we were a year ago, when we were all talking about Dow 12,000, and then the market ended up tanking in May," said Matt Kelmon, portfolio manager of the Kelmoore Strategy Funds. "I think there's just nervousness out there that this could again be the case, and there really isn't a lot to propel the market with. You'll see a new focus on data."

Bonds rose, with the yield on the benchmark 10-year Treasury note falling to 4.62 percent from 4.65 percent late Monday.

The dollar fell against other major currencies, with the euro close to its record high of $1.3667. Gold prices also fell.

Oil prices declined, with a barrel of light sweet crude down $1.30 at $64.59 on the New York Mercantile Exchange. There has been continued concerns about violence in Nigeria, a key oil producer, and the size of inventories of oil and gasoline in the U.S.

In earnings news, Texas Instruments surged $2.51, or 7.7 percent, to $34.92 after its first-quarter results surpassed Wall Street expectations. The world's largest maker of mobile phone chips also provided better-than-expected financial projections for the year.

Lockheed Martin, the nation's largest military contractor, reported quarterly profit rose 17 percent from the year-ago period. However, sales were weaker than expected, and its shares fell $2.25, or 2.3 percent, to $94.82.

AT&T reported profit doubled during the first quarter to beat Wall Street projections. However, shares fell 67 cents to $39.10 as growth in its wireless business lagged.

DuPont posted a 16 percent rise in first-quarter profit on higher sales of seeds and improved pharmaceuticals. Shares of the specialty chemicals maker rose 67 cents to $49.86.

IBM rose $3.28, or 3.4 percent, to $98.49 after the company increased its dividend payout by 10 cents and authorized an aggressive ramp-up of its share buyback program.

Honeywell rose $1.67, or 3.2 percent, to $52.90 after announcing late Monday a dividend of 25 cents a share.

Housing stocks moved broadly lower after the Realtors' report showed the subprime mortgage sector's problems pushed existing-home sales below what economists were expecting. DR Horton Inc. fell 6 cents to $22.53; Beazer Homes USA Inc. shed 15 cents to $33.23; and Lennar Corp. rose 8 cents to $43.24.

The Russell 2000 index of smaller companies was down 1.19, or 0.14 percent, at 826.36.

Overseas, Japan's Nikkei stock average closed down 0.02 percent. At the close, Britain's FTSE 100 was down 0.77 percent, Germany's DAX index was down 0.89 percent, and France's CAC-40 was down 0.53 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed Higher by 136 points on Wednesday 25:

Symbol ----- Last --- Change 
Dow 13,089.89  +135.95 (1.05%) 
Nasdaq 2,547.89  +23.35 (0.92%) 
S&P 500 1,495.42  +15.01 (1.01%) 
10-Yr Bond 4.6460%   +0.0240 
NYSE Volume 3,252,594,000 
Nasdaq Volume 2,735,255,000

http://biz.yahoo.com/ap/070425/wall_street.html?.v=64
*Dow Passes 13,000 on Earnings Data*
Wednesday April 25, 6:00 pm ET 
By Madlen Read and Tim Paradis, AP Business Writers  
The Dow Jones Industrial Average Passes 13,000 As Upbeat Earnings Reports Continue 

NEW YORK (AP) -- It looks like cause for celebration: The Dow Jones industrial average surged from 12,000 to 13,000 in just six months. But appearances can be deceiving, and there may be more reason to worry than rejoice about Wall Street's latest accomplishment.

Stronger-than-expected profits from several large companies helped push the stock market to historical heights. But many big corporations, including the Dow components, made a chunk of that money overseas, where economies are growing faster than in the United States. And many of the same worries that weighed on investors earlier in the year remain: rising energy costs, a slumping housing market and a possible credit crunch.

Still, the stock market's best-known indicator swept past its latest milestone shortly after trading began Wednesday, and even made it past 13,100, rising as high as 13,107.45. The Dow, which has risen in 18 of the past 20 sessions and gained more than 780 points in that time, closed at 13,089.89, up 135.95, or 1.05 percent. It was the Dow's 35th record close since the start of October.

The broader market shared in the rally. The Standard & Poor's 500 index rose 15.01, or 1.01 percent, to 1,495.42, after reaching 1,496.59, a six-and-a-half-year high. The technology-dominated Nasdaq composite index advanced 23.35, or 0.92 percent, to 2,547.89, after hitting a six-year high of 2,551.39.

And the Russell 2000 index, which reflects the performance of smaller companies, inched past a record close set earlier this month, rising 5.71, or 0.69 percent, to 832.07.

It took the Dow just 129 trading days, since Oct. 18, to make the trek from 12,000 to 13,000, far less than the 7 1/2 years the blue chips took to go from 11,000 to 12,000. The swiftness of this latest trip does recall the days of the dot-com boom when the major indexes were soaring and it took the Dow a mere 24 days to barrel from 10,000 to 11,000.

The Dow climbed to a record this time as many of the country's biggest companies surpassed analysts' first-quarter earnings projections. Among those beating forecasts and advancing Wednesday: soft-drink maker PepsiCo Inc., materials manufacturer Corning Inc. and Dow component Boeing Co.

Wall Street got an additional lift from the Commerce Department's report of an increase in durable goods orders, which reassured investors that demand for U.S. products remains strong. The department also reported that sales of new homes rebounded slightly in March.

About two-thirds of U.S. companies so far have reported earnings that were in line with or higher than analyst expectations, said Jim Herrick, director of equity trading at Baird & Co.

"We've had pockets of companies report better earnings, and in light of the Fed not appearing to raise rates anytime soon, that bodes well for the market," said Herrick, referring to the Federal Reserve. "Going forward, the market's going to be data-driven. The market's going to focus on economic data to get a hint about what the Fed will do in the latter half of the year."

Wednesday's advance gained even more momentum from the Fed's assessment that economic growth seemed moderate in much of the country. Inflation appeared tame, according to the Fed's Beige Book, which describes economic conditions in regions around the country and arrives two weeks before the central bank's next meeting.

Investors have been encouraged by stable earnings growth, which shows U.S. companies are faring well despite a slow economy. A large reason why corporate growth has held up is strength in international sales; PepsiCo Inc., for one, said Wednesday its overall profit rose 16 percent, despite a drop in operating profit at its North America unit.

Also giving exporters an advantage, the dollar is trading near historical lows versus the euro. The 13-nation currency rose as high as $1.3664 Wednesday.

"International sales are a huge part of S&P 500 revenues, and this lower dollar makes these companies more competitive," said Scott Wren, equity strategist for A.G. Edwards & Sons. He said analysts estimate 30 percent to 40 percent of sales at S&P 500 companies come from outside the United States.

The biggest gainer among the 30 Dow industrials was Alcoa Inc. The aluminum producer said Wednesday it is considering selling its packaging and consumer businesses, which account for about 10 percent of annual revenue. Alcoa rose $1.81, or 5.3 percent, to $35.76.

3M Corp., the sole decliner in the Dow, slipped 3 cents to $76.97 ahead of its earnings report Thursday.

The technology-dominated Nasdaq was lifted by Amazon.com, which reported late Tuesday that its first-quarter profit more than doubled, besting analyst estimates. The Web retailer also boosted its revenue forecast for the year, reassuring investors that technology companies have the potential to keep posting profits. Amazon rose $12.06, or 27 percent, to $56.81.

The nearly 111-year-old Dow was the first of the major indexes to recover from the stock market's prolonged slump in the early part of the decade. The S&P 500 has yet to reach its closing peak of 1,527.46, set in March 2000, and no one expects the Nasdaq to equal its record of 5,048.62, also reached in March 2000, anytime soon.

Wednesday's run-up helped buoy the major indexes gains for the year, sending the Dow, S&P and Nasdaq each up about 5 percent.

The Dow's latest achievement did not come without setbacks and volatility -- the index lost 416 points in a single session on Feb. 27 amid fears that the U.S. economy would fall into recession and that China's economy would slow as well. Wall Street has since had periodic shudders over signs that inflation might be getting out of hand -- a trend that would lead the Fed to resume interest rate hikes -- and over data showing weakness in the housing market.

Just two weeks ago, the Dow fell nearly 90 points after minutes from the last Fed meeting showed the central bank's level of concern about inflation.

Inflation could re-emerge as an obstacle to the stock market's uptrend if energy costs keep surging. On Wednesday, crude oil futures settled up $1.26 to $65.64 per barrel and gasoline futures rose to 8 1/2 month highs on the New York Mercantile Exchange, after the Energy Department reported a decline in U.S. gasoline inventories.

Bonds fell after the positive economic data and amid the advance in stocks. The yield on the benchmark 10-year Treasury note rose to 4.65 percent from 4.62 percent late Tuesday.

Gold prices rose.

Advancing issues outnumbered decliners by more than 2 to 1 on the New York Stock Exchange, where consolidated volume came to 3.17 billion shares, just ahead of Tuesday's 3.11 billion shares.

Overseas, Japan's Nikkei stock average fell 1.24 percent. Britain's FTSE 100 closed up 0.50 percent, Germany's DAX index gained 1.00 percent, and France's CAC-40 added 1.04 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed Higher by 15 points on Thursday 26:

Symbol ----- Last --- Change 
Dow 13,105.50  +15.61 (0.12%) 
Nasdaq 2,554.46  +6.57 (0.26%)  
S&P 500 1,494.25  +1.17 (0.08%) 
10-Yr Bond 4.6840%   -0.0380 
NYSE Volume 3,211,796,000 
Nasdaq Volume 2,511,744,000 

http://biz.yahoo.com/ap/070426/wall_street.html?.v=44
*Stocks End Flat As Dow Sets New Record*
Thursday April 26, 5:39 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks Finish Flat After Earnings Reports Fail to Galvanize the Market After Dow Cracks 13,000 *

NEW YORK (AP) -- Wall Street paused Thursday, with stocks little changed as strong profit reports from names like Apple Inc. and 3M Corp. failed to galvanize the market a day after the Dow Jones industrials crossed 13,000. Still, a modest advance in the Dow gave the blue chips another record close.

Investors often tread water and reassess valuations after stocks push through technical or psychological barriers such as the Dow's ascent past 13,000 Wednesday. Beyond the Dow's move, investors were also keeping watch over the Standard & Poor's 500 index, which has in recent sessions crept closer to its high of 1,527.46, reached in March 2000.

Better-than-expected profit news, which helped vault the Dow into record territory Wednesday and to a new trading high Thursday, continued but with less effect than in the previous session.

Apple said its fiscal second-quarter profit rose 88 percent amid robust sales of iPods and Macintosh computers. Reports from Dow component 3M and automaker Ford Motor Co. also pleased investors.

"Once you go through what people consider a milestone you are often going to have a little rest," said Ron Kiddoo, chief investment officer at Cozad Asset Management. "Earnings are lending support to the market. Obviously, there are some disappointments, but they're much above what people were expecting."

The Dow rose 15.61, or 0.12 percent, to 13,105.50 after hitting a fresh trading high of 13,132.80. Thursday marked the Dow's 18th rise in the past 20 sessions and its 36th record close since the start of October. The gains Wednesday and Thursday left the Dow up more than 5 percent for the year.

Broader indexes ended mixed Thursday. The Standard & Poor's 500 index slipped 1.17, or 0.08 percent, to 1,494.25, while the Nasdaq composite index rose 6.57, or 0.26 percent, to 2,554.46.

Bonds fell amid the continuation of strong earnings reports. The yield on the 10-year note rose to 4.69 percent from 4.65 percent late Wednesday.

The Dow swept past its latest milestone Wednesday amid better-than-expected earnings and economic data. But the question on investors' minds is whether upcoming data will prove the market's recent rally was justified, or overdone.

While the economic calendar is busier next week, Kiddoo contends earnings will continue to drive stocks until midweek or so when investors begin to focus on the governments employment report, due to arrive May 4.

So far, 22 of the 30 Dow components have reported earnings, with 16 of those reports topping expectations. Dow component Exxon Mobile Corp. released better-than-expected earnings Thursday; it rose 63 cents to $80.55. Microsoft Corp.'s fiscal third-quarter results, which the company announced after the closing bell Thursday, also came in ahead of expectations. Microsoft finished up 11 cents at $29.10 and rose in after-hours electronic trading.

In other corporate news, Apple's profit report beat analysts' estimates, and the stock at times surpassed $100 a share. Apple closed up $3.49, or 3.7 percent, at $98.84.

3M, whose products include Scotch tape and coatings for flat-panel televisions, reported a stronger profit than Wall Street predicted, sending the stock up $3.48, or 4.5 percent, to $80.45. Ford, meanwhile, reported a narrower-than-expected loss for the first quarter. Ford rose 32 cents, or 4.1 percent, to $8.20.

Wendy's International Inc. said late Wednesday it is considering a possible sale of the company, among other options. The burger chain rose $5.31, or 16.3 percent, to $37.99.

Covansys Corp. rose $6.49, or 24.2 percent, to $33.29 after the provider of information-technology services agreed to be acquired by Computer Sciences Corp. for $1.3 billion. As is typical of companies announcing acquisitions, Computer Sciences slipped 14 cents to $55.83.

Harman International Industries Inc., which makes audio equipment, agreed to be taken private in an $8 billion deal. The company, which also said its fiscal third-quarter profit rose 11 percent, jumped $19.94, or 19.4 percent, to $122.50.

A light flow of economic news Thursday didn't appear to hold much sway over stocks. Among the reports, the Labor Department said applications for jobless benefits fell last week by 20,000, the biggest decrease in nearly two months.

Federal Reserve banks in Chicago and Kansas City said manufacturing activity rose in their respective regions.

Friday will bring more weighty data for investors, who are particularly interested in the Commerce Department's initial estimate of first-quarter gross domestic product.

Gold fell on Thursday, while the dollar was mixed against other major currencies.

Light sweet crude settled down 78 cents at $65.06 per barrel on the New York Mercantile Exchange.

Declining issues outpaced advancers by about 9 to 7 on the New York Stock Exchange, where consolidated volume totaled 3.14 billion shares, compared with 3.17 billion traded Wednesday.

Overseas, Japan's Nikkei stock average rose 1.12 percent. Britain's FTSE 100 closed up 0.12 percent, Germany's DAX index rose 0.60 percent, and France's CAC-40 ended down 0.05 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed Higher by 15 points on Friday 27:

Symbol ----- Last --- Change 
Dow 13,120.94  +15.44 (0.12%) 
Nasdaq 2,557.21  +2.75 (0.11%) 
S&P 500 1,494.07  -0.18 (0.01%) 
10-Yr Bond 4.6980%   +0.0140 
NYSE Volume 2,757,250,000 
Nasdaq Volume 2,148,650,000 

http://biz.yahoo.com/ap/070427/wall_street.html?.v=34
Dow Sets Record; Wider Market Flat
Friday April 27, 6:29 pm ET 
By Tim Paradis, AP Business Writer  
*Dow Hits Record Close, but Broader Market Ends Flat Amid Weak Economy Reading *

NEW YORK (AP) -- Stocks finished a strong week mostly flat Friday as investors tried to reconcile a weaker-than-expected estimate of first-quarter economic growth with fresh evidence that corporate profits remain robust. A modest advance in the Dow Jones industrials sent the blue chips to their third record close in as many days.

A Commerce Department report that the U.S. gross domestic product grew at an annual rate of 1.3 percent in the first quarter -- its slowest pace in four years -- unnerved some investors Friday and seemed to run counter to a parade of strong earnings reports that sent major indexes sharply higher during the week. The economy's growth was below economists' expectations and down sharply from 2.5 percent in the previous quarter.

The government data also showed that pricing pressures were rising -- stirring concern that U.S. consumers might curb spending.

The GDP data helped push the euro to a high against the dollar; the 13-nation currency rose as high as $1.3682.

Keeping stocks afloat, however, was another round of robust earnings news -- notably from Microsoft Corp., one of the 30 companies that make up the Dow. So far, 22 of the 30 Dow components have reported earnings, and 16 have exceeded expectations.

"I think the reason the market appears to be doing better than the economy right now is the decent job managers are doing at incorporating improvements in productivity," said Rob Lutts, chief investment officer at Cabot Money Management. "Corporations are making gains on the bottom line without making gains on the top line," he said, referring to earnings and revenue.

The Dow Jones industrial average rose 15.44, or 0.12 percent, to 13,120.94. The Dow set a trading high of 13,148.00 Friday after surpassing 13,000 for the first time Wednesday. The Dow's gain Friday marked the 37th record close for the index since October. For the week, the Dow rose 1.2 percent.

Broader indexes finished mixed Friday. The Standard & Poor's 500 index slipped 0.18, or 0.01 percent, to 1,494.07, while the technology-dominated Nasdaq composite index rose 2.75, or 0.11 percent, to 2,557.21.

For the week, the S&P rose 0.7 percent, while the Nasdaq gained 1.2 percent.

The S&P 500 is about 2 percent below its high of 1,527.46, reached in March 2000. Wall Street has been eyeing the index, waiting for it to move back above 1,500; the S&P 500 hasn't closed above that level since September 2000.

The Nasdaq, meanwhile, is slightly above the halfway point to its high, which also came in March 2000.

The bevy of profit reports and economic figures has left Wall Street grappling with at times seemingly disparate signals about the direction of stocks. Slowing economic growth could prompt the Federal Reserve to lower short-term interest rates, giving a boost to stocks, but rising inflation could prevent the central bank from making a cut. Meanwhile, a weak dollar helps exporters, but hurts importers.

"As long as our economy doesn't really slow down and go into big negative mode, then profits can continue to grow and the markets will probably do OK," Lutts said, noting that while the economy slowed in the first quarter, it did not contract.

Though the U.S. economy has been cooling, investors have been buying stocks in part because corporate profits are still rising. U.S. companies that also operate abroad have drawn sizable profits from countries with stronger economies and currencies.

"Every company has a little bit different story, but those that are being well-managed and having good growth are producing good results. Generally we're seeing pretty good numbers," he said.

Microsoft was among the latest companies to lend support to investor sentiment. The software maker jumped $1.02, or 3.5 percent, to $30.12, after reporting a 65 percent surge in its fiscal third-quarter earnings amid strong sales of its new Windows Vista operating system and Office 2007 software suite.

General Electric Co. was the second-best performer in the Dow Friday behind Microsoft, rising $1, or 2.8 percent, to $36.84 after Citigroup Inc. analysts said the conglomerate could benefit by selling its entertainment, real estate and financial businesses.

Goodyear Tire & Rubber Co. reported a loss for the first quarter compared with a profit a year earlier but pleased Wall Street with word it would dig deeper to trim costs and that a recovery from a strike was proving less onerous than expected. Goodyear rose $1.91, or 5.9 percent, to $34.41.

Airline stocks fell, however, after JPMorgan Chase lowered its rating on several carriers, seeing little cause for the stocks to move higher. American Airlines parent AMR Corp. fell $1.34, or 4.8 percent, to $26.35, while Continental Airlines Inc. dropped $2.53, or 6.5 percent, to $36.25.

Along with profit news, corporate takeover activity continued to buoy the mood on Wall Street. On Friday, Citigroup said it successfully took over Japanese brokerage Nikko Cordial Corp. for $7.7 billion. The acquisition was the largest ever by a foreign company in Japan. As is typical of an acquiring company, Citigroup fell, slipping 19 cents to $53.37.

In addition to the GDP data, investors examined the Reuters/University of Michigan consumer sentiment index, which rose to 87.1 in April from a preliminary reading of 85.3 but fell from 88.4 in March.

Bonds were little changed; the 10-year yield was flat at 4.70 percent from late Thursday.

Light, sweet crude settled up $1.40 at $66.46 per barrel on the New York Mercantile Exchange, rising late in the session after Saudi Arabia arrested 172 militants, some of whom it said planned to attack oil fields.

Gold prices rose.

Declining issues outnumbered advancers by about 3 to 2 on the New York Stock Exchange, where consolidated volume came to 2.7 billion shares, down from the heavy 3.14 billion shares traded Thursday.

The Russell 2000 index of smaller companies fell 4.10, or 0.49 percent, to 829.70.

Stock markets overseas fell. Japan's Nikkei stock average slipped 0.16 percent, while Britain's FTSE 100 ended down 0.78 percent, Germany's DAX index lost 0.12 percent, and France's CAC-40 declined 0.23 percent.

The Dow Jones industrial average ended the week up 158.96, or 1.23 percent, at 13,120.94. The Standard & Poor's 500 index finished up 9.72, or 0.65 percent, at 1,494.07. The Nasdaq composite index ended up 30.82, or 1.22 percent, at 2,557.21.

The Russell 2000 index finished the week up 0.84, or 0.10 percent, at 829.70.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 15,092.75, up 82.84 points for the week. A year ago, the index was at 13,268.97.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 58 points on Monday April 30:

Symbol ----- Last --- Change 
Dow 13,062.91  -58.03 (0.44%) 
Nasdaq 2,525.09  -32.12 (1.26%) 
S&P 500 1,482.37  -11.70 (0.78%) 
10-Yr Bond 4.6300%   -0.0680 
NYSE Volume 3,093,415,000 
Nasdaq Volume 2,210,038,000 

The Dow surged 5.7 percent in April, the biggest percentage gain since December 2003,

http://biz.yahoo.com/ap/070430/wall_street.html?.v=40
Stocks Fall As Traders Eye Economic Data
Monday April 30, 5:44 pm ET 
By Madlen Read, AP Business Writer  
Stocks Retreat As Investors Take Profits, Chew on Inflation and Spending Data 

NEW YORK (AP) -- Wall Street retreated Monday as investors, casting a wary eye toward upcoming economic data, cashed in some profits on the last trading day of April -- the Dow Jones industrial average's best month in more than three years. 

Investors did manage to send the Dow to a new trading high before pulling money out of the market ahead of Tuesday's manufacturing data from the Institute for Supply Management. On Monday the report's precursor, the Chicago Purchasing Managers' index of manufacturing activity in the Midwest, came in weaker than expected.

The Dow surged 5.7 percent in April, the biggest percentage gain since December 2003, thanks in large part to first-quarter earnings that were stronger than analysts predicted. Quarterly profits released Monday by companies such as Verizon Communications, Wm. Wrigley Jr. Co., Kellogg Co. and RadioShack Corp. extended that trend.

Economic data on Monday was mixed. Investors were pleased by the Commerce Department's report that core inflation, as measured by personal consumption spending, was up 2.1 percent for the past 12 months ending in March -- lower than the 2.4 percent rise in the 12 months ending in February. If inflation eases, the Federal Reserve is more likely to cut interest rates.

But the data also showed personal spending increased only 0.3 percent. That, along with a slim gain in construction spending and the weak reading on Midwest manufacturing, caused some restraint among investors who are concerned about the economy slowing too quickly -- which could eventually hurt corporate profits.

"What the market is always going to ask is, what have you done for me lately?" said Alan Gayle, senior investment strategist at Trusco Capital Management. "The good earnings news has at least to some degree been reflected in stock market prices -- companies are going to have to continue generating these good numbers to see the market go higher."

The Dow fell 58.03, or 0.44 percent, to 13,062.91 after reaching a new trading high of 13,162.06. The Dow on Friday hit its 37th record close for the index since October. It is now up 4.8 percent on the year.

Broader stock indicators fell further Monday, as investors avoided smaller, less established companies due to signs of a cooling economy.

The Standard & Poor's 500 index fell 11.70, or 0.78 percent, to 1,482.37, while the Nasdaq composite index dropped 32.12, or 1.26 percent, to 2,525.09.

Bonds jumped on the data showing tame inflation and slow growth, which lower the chance of a rate hike. The yield on the benchmark 10-year Treasury note fell to 4.62 percent from 4.70 percent late Friday.

Gold prices rose. The dollar recovered slightly from Friday's decline, but still hovered around an all-time low against the euro.

Fueling the end-of-month selloff, the National Association of Purchasing Management-Chicago said its index of manufacturing activity was 52.9 in April, below the average estimate and down from a reading of 61.7 in March -- its highest level in two years. A reading above 50 in the index indicates growth in Midwest manufacturing, while a reading below 50 suggests contraction.

Caution ahead of this week's economic data ended up overshadowing strong earnings data Monday.

Verizon, one of the 30 Dow stocks, reported that its first-quarter profit fell 8.4 percent, but revenue rose 17 percent and the results beat predictions. Verizon rose 29 cents to $38.18.

RadioShack Corp. and Wm. Wrigley Jr. Co. also posted strong first-quarter profits. RadioShack rose $1.35, or 4.9 percent, to $29.07, while Wrigley jumped $3.83, or 7 percent, to $58.88.

Corporate growth has been better than expected but is in the single digits, slower than in recent quarters. That has allowed price-to-earnings ratios to rise, noted Jeffrey Kleintop, chief market strategist at LPL Financial Services, indicating stocks have potential to rise further.

In other corporate news, German stock exchange operator Deutsche Boerse AG confirmed it has agreed to buy the U.S. options exchange International Securities Exchange Holdings for $2.8 billion in cash. ISE surged $20.97, or 45.9 percent, to $66.69.

Light, sweet crude fell 75 cents to settle at $65.71 per barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies fell 15.13, or 1.82 percent, to 814.57.

Declining issues outnumbered advancers by nearly 3 to 1 on the New York Stock Exchange, where consolidated volume came to 2.99 billion shares, up from 2.7 billion shares Friday.

Overseas, Japanese markets were closed for a holiday, while Chinese markets hit record highs, driven by strong corporate earnings. But most other Asian markets fell as investors worried China may ramp up efforts to slow its booming economy after announcing new credit tightening measures.

Britain's FTSE 100 rose 0.48 percent, Germany's DAX index rose 0.42 percent and France's CAC-40 rose 0.49 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 73 points on Tuesday May 1:

Symbol ----- Last --- Change 
Dow 13,136.14  +73.23 (0.56%) 
Nasdaq 2,531.53  +6.44 (0.26%) 
S&P 500 1,486.30  +3.93 (0.27%) 
10-Yr Bond 4.64%   +0.01 
NYSE Volume 3,410,898,000 
Nasdaq Volume 2,458,919,000 

http://biz.yahoo.com/ap/070501/wall_street.html?.v=45
Stocks Up on Murdoch Bid for Dow Jones
Tuesday May 1, 6:25 pm ET 
By Madlen Read, AP Business Writer  
Stocks Rise After Murdoch Bid for Dow Jones Reignites Takeover Excitement 


NEW YORK (AP) -- Investors resumed their buying spree on Wall Street Tuesday, driving stocks higher after a bid for media company Dow Jones & Co. revived enthusiasm about takeover activity.

The Dow Jones industrial average reached another record close, its 38th since last October, as big company stocks benefited from the turnaround.

Earlier in the session, stocks wavered on mixed economic data that showed strength in manufacturing but a wilting housing market and weak car sales. After April's big advance, investors were wary that the current economy wouldn't justify another move higher on Wall Street.

But the caution dissipated after Dow Jones, which publishes The Wall Street Journal, confirmed that it received an unsolicited bid from Rupert Murdoch's News Corp. to buy the company for $5 billion, or $60 a share.

"The market kind of just took off from there," said Todd Leone, managing director of equity trading at Cowen & Co. News of the bid boosted media companies and publishers in particular, but also encouraged buying in other sectors, too, as it reaffirmed the ongoing trend of surging takeover activity in corporate America despite an economic slowdown. "It's money pouring into the market," Leone said.

The Dow industrials rose 73.23, or 0.56 percent, to 13,136.14, after dropping to 13,041.30 in earlier trading.

Broader stock indicators also pared early losses and turned higher. The Standard & Poor's 500 index rose 3.93, or 0.27 percent, to 1,486.30, and the Nasdaq composite index rose 6.44, or 0.26 percent, to 2,531.53.

Bond prices dropped after the manufacturing data made lower rates look less likely, and the yield on the benchmark 10-year Treasury note rose to 4.64 percent, up from 4.62 percent late Monday.

After investors heard Dow Jones was a takeover target, the company's stock surged $19.87, or 54.7 percent, to $56.20. News Corp., which owns the Fox broadcast network among many other media properties, fell $1.01, or 4.2 percent, to $22.99.

Other media stocks rose as well. New York Times Co. rose $1.18, or 5 percent, to $24.58; Journal Register Co. jumped 42 cents, or 7.3 percent, to $6.29; and Reuters Group PLC's U.S. shares climbed $2.19, or 3.8 percent, to $59.43.

Adding to the takeover buzz was a report that Microsoft Corp. is considering buying online advertising company 24/7 Real Media. 24/7 Real Media rose $2.02, or 20 percent, to $11.97, while Microsoft rose 25 cents to $30.19.

Though takeover fervor boosted stocks Tuesday, investors will be watching upcoming economic data, especially Friday's jobs data, to decide whether to tread further into record terrain or restrain their buying. April saw the biggest percentage gain in the Dow since December 2003.

"I would expect we spend some time in May digesting that move," said Arthur Hogan, chief market analyst at Jefferies & Co.

A stronger-than-expected reading on the Institute for Supply Management's April manufacturing index failed to spark buying. Robust manufacturing activity is good for many U.S. companies, but it reduces the chance that the Federal Reserve will cut interest rates to boost spending -- especially amid rising costs, which the ISM's report described.

Other data Tuesday evinced weakness in the housing and auto sectors. The National Association of Realtors said pending sales of existing homes fell 4.9 percent in March to their lowest level in four years, while Ford Motor Co., Toyota Motor Corp. and General Motors Corp. reported declines in U.S. sales for April. DaimlerChrysler reported a slim rise.

Ford rose a penny to $8.05; DaimlerChrysler rose 40 cents to $80.91; Toyota's U.S. shares rose 11 cents to $121.53; and GM rose 7 cents to $31.30.

But the auto sales overall weren't as bad as many were expecting, and the tepid housing market is nothing new, so investors reacted little to the data.

"Unless you've been living underneath a rock, you know residential real estate is hitting a soft patch here," Hogan said.

Earnings reports were mixed Tuesday.

Procter & Gamble Co., one of the 30 Dow components and maker of Crest toothpaste and Pampers diapers, said profit in the most recent quarter rose 14 percent, but the figure failed to top expectations. Procter & Gamble fell $1.55, or more than 2 percent, to $62.96.

Archer Daniels Midland Co.'s fiscal third-quarter earnings fell short of Street forecasts, with the country's largest ethanol producer citing higher corn costs. ADM fell $2.10, or 5.4 percent, to $36.60.

Circuit City Stores Inc. said it expects to report steep first-quarter losses. The electronics retailer dropped 93 cents, or 5.3 percent, to $16.52.

The Russell 2000 index of smaller companies rose 1.68, or 0.21 percent, at 816.25.

Advancing issues outnumbered decliners by 6 to 5 on the New York Stock Exchange, where consolidated volume came to 3.29 billion shares, up from 2.99 billion Monday.

Crude oil prices fell $1.31 to settle at $64.40 on the New York Mercantile Exchange ahead of the U.S. government's weekly inventory report Wednesday.

Overseas, Japan's Nikkei stock average fell 0.72 percent. Britain's FTSE 100 was down 0.46 percent, Germany's DAX index was up 0.42 percent, and France's CAC-40 was up 0.49 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 75 points on Wednesday May 2:

Symbol ----- Last --- Change 
Dow 13,211.88  +75.74 (0.58%) 
Nasdaq 2,557.84  +26.31 (1.04%) 
S&P 500 1,495.92  +9.62 (0.65%) 
10-Yr Bond 4.6460%   +0.0040 
NYSE Volume 3,189,801,000 
Nasdaq Volume 2,188,071,000 

http://biz.yahoo.com/ap/070502/wall_street.html?.v=44
Wall Street Jumps, Dow at Record Close
Wednesday May 2, 5:38 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Surge on Factory Orders Spike; Dow Up More Than 75 Points and Passes 13,200 

NEW YORK (AP) -- Stocks jumped Wednesday, sending the Dow Jones industrials past 13,200 for the first time after a strong reading on U.S. factory orders stoked investor optimism about the economy. The Dow gained more than 75 points and secured its second straight record close.

The Commerce Department said orders to U.S. factories rose 3.1 percent in March -- the largest increase in a year -- amid strong demand for commercial aircraft and a sharp rise in an indicator of how much companies are investing in their business. The increase easily outpaced the 2 percent rise analysts had been expecting.

As investors begin to look toward Friday's Labor Department reports on March job creation and unemployment, they are also keeping watch over corporate profits as they try to determine how quickly the economy might be slowing and whether the stronger-than-expected earnings might continue to give stocks a lift.

Time Warner Inc. and Yum Brands Inc., parent of fast-food chains KFC, Taco Bell and Pizza Hut, each reported robust quarterly results.

"The stronger-than-anticipated earnings releases have definitely been the catalysts for pries to move higher and the merger deals continue to reduce shares in the market and put fresh cash back in investors' hands," said Tim Hartzell, chief investment officer at Kanaly Trust Co.

The Dow rose 75.74, or 0.58 percent, to 13,211.88. The blue chip index hit a fresh trading high of 13,256.33 after reaching 13,184.14 Tuesday. The Dow has set 16 record closes this year and 39 since the beginning of October; the latest closing high came Tuesday.

Broader stock indicators also rose Wednesday. The Standard & Poor's 500 index advanced 9.62, or 0.65 percent, to 1,495.92. Wall Street has been eyeing the index, waiting for it to move back above 1,500; the S&P 500 hasn't closed above that level since September 2000.

The Nasdaq composite index rose 26.31, or 1.04 percent, to 2,557.84.

Bonds fell following release of the factory order data. The yield on the benchmark 10-year Treasury note rose to 4.65 from 4.64 percent late Tuesday. The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude fell 77 cents to $63.66 per barrel on the New York Mercantile Exchange after weekly government figures showed larger-than-expected domestic supplies.

In what some investors perhaps regarded as an early read on Friday's jobs numbers, an employment indicator published by ADP and Macroeconomic Advisers reported an increase of 64,000 in private jobs in April. A healthy job market is important because worries about jobs could push consumers to curb their spending.

On Tuesday, a takeover bid launched by News Corp. for Wall Street Journal parent Dow Jones & Co. buoyed investor sentiment and sent stocks higher. While it remains unclear whether the family that controls Dow Jones will acquiesce and agree to a sale, Dow Jones fell 20 cents to $56 Wednesday after jumping 55 percent Tuesday. News Corp. on Wednesday advanced 44 cents, or 1.9 percent, $23.43.

In other corporate news, Time Warner said its first-quarter earnings fell 18 percent. The media conglomerate's results topped Wall Street's expectations, however, as growth in the company's cable business boosted revenue. Time Warner rose 35 cents to $20.94.

Yum Brands rose $3.61, or 5.7 percent, to $66.73 after its earnings report showed its international operations turned in a tidy profit, helping overall results.

Cablevision Systems Corp. jumped $3.23, or 9.9 percent, to $35.90 after the cable TV provider and owner of New York's Madison Square Garden said it struck a $10.3 billion deal to be taken by its controlling shareholders, the Dolan family. The family had tried three other times to take the company private.

Not all quarterly reports pleased investors. Blockbuster Inc. fell 81 cents, or 13 percent, to $5.40 after the company said its first-quarter loss widened amid a weak market for movie rentals and heavy spending on its online rental program.

Advancing issues outnumbered decliners by more than 3 to 1 on the New York Stock Exchange, where consolidated volume came to 3.14 billion shares, down from 3.29 billion shares on Tuesday.

The Russell 2000 index of smaller companies rose 12.21, or 1.50 percent, to 828.46.

Overseas, Japan's Nikkei stock average closed up 0.69 percent. Britain's FTSE 100 finished up 1.01 percent, Germany's DAX index advanced 0.64 percent, and France's CAC-40 rose 0.50 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


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## bigdog

The NYSE DOW closed HIGHER by 29 points on Thursday May 3:

Symbol ----- Last --- Change 
Dow 13,241.38  +29.50 (0.22%) 
Nasdaq 2,565.46  +7.62 (0.30%) 
S&P 500 1,502.39  +6.47 (0.43%) 
10-Yr Bond 4.6740%   +0.0280 
NYSE Volume 3,007,970,000 
Nasdaq Volume 2,236,499,000

http://biz.yahoo.com/ap/070503/wall_street.html?.v=59
Stocks Rise; S&P 500 Passes 1,500 Mark
Thursday May 3, 5:49 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Rise; S&P 500 Closes Above 1,500 for the First Time Since September 2000 


NEW YORK (AP) -- Wall Street extended its advance Thursday amid a burst of enthusiasm about the economy that gave the Standard & Poor's 500 index its first close above 1,500 since September 2000.

The S&P 500, the index most closely watched by market professionals, made its first foray past 1,500 shortly after trading began and rose as high as 1,503.34 just over a week after the Dow Jones industrial average passed 13,000 for the first time. The index closed at 1,502.39, up 6.47, or 0.43 percent, and is now within striking distance of its closing high of 1,527.46, set March 24, 2000, just as the dot-com bubble began to burst and Wall Street began a three-year-long decline.

The Dow, meanwhile, had its third straight record high close.

Stocks have soared in recent weeks as first-quarter earnings beat reduced expectations, and upbeat economic news added to the gains. With the Dow having piled on more than 700 points in April alone, there are concerns that investors may be getting a little too enthusiastic given the uncertainty in the housing market and other sectors of the economy.

On Thursday, the good news was about inflation: The Labor Department said wages, as measured by unit labor costs, rose at a tepid 0.6 percent rate in the first quarter. The news fed Wall Street's hopes for an interest rate cut later this year.

Perhaps giving the S&P 500 its final push, the Institute for Supply Management said its index of non-manufacturing business rose to 56.0 in April from 52.4.

"You're seeing some vertigo out there, the fear we're getting ahead of ourselves," said Arthur Hogan, chief market analyst at Jefferies & Co. "There's going to be natural trepidation at new levels, but you rationalize these levels in knowing that we haven't overextended ourselves like we were in 1999."

The Dow Jones rose 29.50, or 0.22 percent, to 13,241.38. The blue chip index has now hit 18 record closes since the start of the year and 40 since the beginning of October. The Dow's climb in 22 of the past 25 sessions marks the blue chip average's longest advance since 1955.

The Nasdaq composite index rose 7.62, or 0.30 percent, to 2,565.46.

The S&P's achievement marked another milestone in Wall Street's recovery from a prolonged slump at the start of the decade. The slide began with the end of the dot-com boom, then accelerated as the economy fell into recession and after the Sept. 11, 2001, terror attacks. Corporate scandals including the collapse of Enron Corp. and Worldcom took a further toll on the market.

The S&P 500 fell to a low of 776.76 on Oct. 9, 2002, before starting its recovery. But while it and the Dow have made the long trip back, the Nasdaq, despite its own signs of vigor, is not expected to reach its closing high of 5,048.62, set March 24, 2000, anytime soon. The tech-dominated index was arguably overinflated by the rush to join the Internet boom.

"People are watching the momentum moving the market higher and in some cases they're participating, maybe grudgingly, but they're missing out otherwise," said Bill Schultz, chief investment officer, at McQueen, Ball & Associates. "There are a lot of people that are looking for a dip to buy and we haven't seen it. At some point you have to say, 'The dip isn't coming but I want to participate.'"

Thursday's advance came as investors grew optimistic about inflation. Although Wall Street has surged higher over the past month, concerns about inflation, including that of wages, still dog the market as investors try to determine whether an inflation-wary Federal Reserve will become comfortable enough later in the year to lower short-term interest rates. The Fed has left rates unchanged at recent meetings, in part because of concerns about inflation.

Other economic data helped shape investor sentiment Thursday. The government reported that the number of Americans seeking unemployment benefits fell by 21,000 last week to 305,000, the lowest level since mid-January. The decline was broader than expected and was the third straight decrease in weekly claims.

The economic figures came a day ahead of other Labor Department reports on nonfarm payrolls and unemployment.

Besides economic data, the parade of earnings reports continued Thursday with General Motors Corp. turning in lower first-quarter earnings. GM's profit fell 90 percent from a year earlier, which benefited from a gain. The company also suffered losses in the residential mortgage business of GMAC Financial Services. GM, one of the 30 stocks that makes up the Dow industrials, fell $1.75, or 5.4 percent, to $30.69.

Bonds fell Thursday following the economic data; the yield on the benchmark 10-year Treasury note rose to 4.67 percent from 4.65 percent late Thursday.

Light, sweet crude fell 49 cents to $63.19 per barrel on the New York Mercantile Exchange.

The dollar was mixed against other major currencies, while gold prices fell.

Advancing issues outnumbered decliners 3 to 2 on the New York Stock Exchange, where consolidated volume came to 2.89 billion shares, down from 3.14 billion Wednesday.

The Russell 2000 index of smaller companies rose 0.41, or 0.05 percent, to 828.87.

Overseas, markets in Japan were closed for a holiday. At the close, Britain's FTSE 100 rose 0.82 percent, Germany's DAX index gained 0.28 percent, and France's CAC-40 rose 0.24 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 23 points on Friday May 4:

Symbol ----- Last --- Change 
Dow 13,264.62  +23.24 (0.18%) 
Nasdaq 2,572.15  +6.69 (0.26%) 
S&P 500 1,505.62  +3.23 (0.21%) 
10-Yr Bond 4.6400%   -0.0340 
NYSE Volume 2,762,165,000 
Nasdaq Volume 2,307,702,000 

http://biz.yahoo.com/ap/070504/wall_street.html?.v=44
Stocks Rise for Fourth-Straight Session
Friday May 4, 6:14 pm ET 
By Tim Paradis, AP Business Writer  
Wall Street Advances on Fresh Round of Takeover News, Jobs Report 


NEW YORK (AP) -- Wall Street rose moderately Friday, carving out its fourth straight weekly gain amid a fresh round of corporate takeover news and employment figures that largely met expectations.

Reports that Microsoft Corp. renewed talks to acquire or invest in Yahoo Inc. helped buoy investor sentiment Friday as did word that Reuters Group PLC received a preliminary takeover offer. There is speculation that Thomson Corp., the financial data provider, is the likely suitor for the British news and information company.

Beyond the buyout news, which has figured prominently in shaping Wall Street's largely upbeat mood in recent months, economic figures offered some nuggets for both bullish and bearish investors. The Labor Department said Friday the nation's jobless rate rose to 4.5 percent in April as expected; in the prior month, the rate stood at a five-year low of 4.4 percent.

"The economic data suggest that the economy is not tanking and inflation is not accelerating and that the Fed is not going to upset the apple cart," said Alan Levenson, chief economist at T. Rowe Price, referring to the Federal Reserve.

The Dow Jones industrial average rose 23.24, or 0.18 percent, to 13,264.62, its fourth straight record close. The Dow also reached a new trading high of 13,284.53.

The blue chip index has set 19 record closes since the start of the year and 41 since the beginning of October.

Broader stock indicators also moved higher Friday. The Standard & Poor's 500 index advanced 3.23, or 0.21 percent, to 1,505.62. On Thursday, the S&P 500 moved above the 1,500 mark for the first time in nearly seven years, and it rose as high as 1,510.34 Friday. The return to 1,500 puts the closing high of 1,527.46 -- reached March 24, 2000 -- within investors' sights.

The Nasdaq composite index rose 6.69, or 0.26 percent, to 2,572.15; while the Nasdaq has risen alongside the Dow and the S&P in recent sessions, it remains about halfway toward its March 2000 high.

Friday's advance marked another week of prodigious gains. The Dow is up 1.10 percent for the week after crossing 13,200 for the first time Wednesday. It gained 7.7 percent in the previous 25 sessions. The S&P 500 is up 0.77 percent for the week, while the Nasdaq rose 0.58 percent.

Driving bond investors was government data that showed employers added the fewest new jobs in more than two years. While Wall Street doesn't want consumers to feel less secure in their jobs and perhaps curb their spending, a spike in wages amid a tight labor market could stir concerns about inflation -- and that could force the Federal Reserve to be more aggressive about interest rates.

Bonds rose, with the yield on the benchmark 10-year Treasury note falling to 4.64 percent from 4.65 percent late Thursday. The dollar remained mixed against other major currencies Friday, while gold prices rose.

Light, sweet crude fell $1.26 to $61.93 per barrel on the New York Mercantile Exchange.

With acquisitive investors apparently circling media and information properties Yahoo and Reuters, interest in such companies could be growing. Word of the possible combinations comes three days after News Corp., run by billionaire Rupert Murdoch, offered to acquire Wall Street Journal publisher Dow Jones & Co. for $5 billion. Dow Jones rose 3 cents to $55.80 Friday as the likelihood of a deal remained unclear. News Corp. climbed 14 cents to $23.58.

A broader spate of merger and acquisition activity seen recently has helped push stocks higher because investors generally regard such deals as bullish bets by companies on the health of the economy.

Friday's takeover news sent the targeted companies higher. Yahoo rose $2.80, or 9.9 percent, to $30.98, while Reuters rose $15.84, or 26.9 percent, to $74.76. Investors, who tend to distance themselves from companies doing the acquiring, sent Thomson down 28 cents to $43.45 and Microsoft down 41 cents to $30.56.

Along with takeovers, earnings reports continue to draw attention on Wall Street. Better-than-expected profits have served as a catalyst for pushing stocks to record levels in recent months. Forest products company Weyerhaeuser Co. jumped $4.47, or 5.7 percent, to $82.62 after reporting it swung to a profit from a loss in the first quarter largely because of a combination of its fine-paper business with another paper maker.

Not all quarterly reports pleased investors, however. Eastman Kodak Co. fell $1.25, or 4.8 percent, to $24.72, after the company's first-quarter loss narrowed but still fell short of Wall Street's expectations. The company has been trying to move beyond a shrinking film business and further into digital products.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where consolidated volume came to 2.73 billion shares, down from 2.89 billion on Thursday.

The Russell 2000 index of smaller companies rose 4.01, or 0.48 percent, to 832.88.

Overseas, stock markets in much of Asia, including Japan and Hong Kong, were closed for holidays. Britain's FTSE 100 finished up 1.01 percent, Germany's DAX index advanced 0.54 percent, and France's CAC-40 rose 1.08 percent.

The Dow Jones industrial average ended the week up 143.68, or 1.10 percent, at 13,264.62. The Standard & Poor's 500 index finished up 11.55, or 0.77 percent, at 1,505.62. The Nasdaq composite index ended up 14.94, or 0.58 percent, at 2,572.15.

The Russell 2000 index finished the week up 3.18, or 0.38 percent, at 832.88.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 15,194.08, up 101.33 points for the week. A year ago, the index was at 13,318.34.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 48 points on Monday May 7:

Symbol ----- Last --- Change 
Dow 13,312.97  +48.35 (0.36%) 
Nasdaq 2,570.95  -1.20 (0.05%) 
S&P 500 1,509.48  +3.86 (0.26%) 
10-Yr Bond 4.64%   0.00 
NYSE Volume 2,464,851,000 
Nasdaq Volume 1,652,312,000

http://biz.yahoo.com/ap/070507/wall_street.html?.v=37
Stocks Mostly Higher; Dow Passes 13,300
Monday May 7, 4:23 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Try to Maintain Gains After Alcoa Bid for Alcan; Dow Passes 13,300 for 1st Time 

NEW YORK (AP) -- Wall Street closed mostly higher Monday, though technology stocks struggled to hold onto gains during the session, as a $27 billion bid by Alcoa Inc. for Canadian aluminum rival Alcan Inc. buoyed blue chip issues. The Dow Jones industrials passed 13,300 for the first time and had yet another record close.

The move by Alcoa, one of the 30 stocks that make up the Dow, gave much of the market a lift Monday as investors often regard merger and acquisition activity as a bullish bet by companies on corporate profit. A pullback in Yahoo Inc. depressed tech shares.

With little earnings and economic data to go on, investors will be awaiting further signals to try to determine where stocks might be headed and whether Wall Street's record rally will continue. Investors will also be awaiting the Federal Reserve's decision Wednesday on interest rates.

Monday afternoon, the Fed reported that consumers boosted their borrowing in March at the fastest pace in four months. The report showed that consumer credit increased at a brisk annual rate of 6.7 percent in March.

"We're kind of waiting for macroeconomic news to shape the outlook for the rest of the year," said Les Satlow, portfolio manager at Cabot Money Management. "I do believe the market will spend some time here trying to catch its breath or even pull back a bit. We need more macroeconomic clarity as to second half of 2007 and the direction the Fed."

According to preliminary calculations, the Dow industrials rose 48.35, or 0.36 percent, to 13,312.97. The Dow rose as high as 13,317.69 Monday, topping a previous trading high of 13,284.53 set Friday.

The blue chip index has hit 20 record closes since the start of the year and 42 since the beginning of October. The gains in 24 of the last 27 sessions marks the longest winning streak for the blue chips since 1927.

Broader stock indicators rose. The Standard & Poor's 500 index rose 3.86, or 0.26 percent, to 1,509.48. Last week, the S&P 500 moved above the 1,500 level for the first time in nearly seven years. The 1,500 level puts the closing high of 1,527.46 reached in March 24, 2000, within investors' sights.

The Nasdaq composite index fell 1.20, or 0.05 percent, to 2,570.95.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 3.9 points on Tuesday May 8:

Symbol ----- Last --- Change 
Dow 13,309.07  -3.90 (0.03%) 
Nasdaq 2,571.75  +0.80 (0.03%) 
S&P 500 1,507.72  -1.76 (0.12%) 
10-Yr Bond 4.6340%   -0.0020 
NYSE Volume 2,834,720,000 
Nasdaq Volume 2,017,124,000

http://biz.yahoo.com/ap/070508/wall_street.html?.v=51
Wall Street Ends Flat Ahead of Fed
Tuesday May 8, 5:34 pm ET 
By Joe Bel Bruno, AP Business Writer  
Stocks End Flat Ahead of Fed Meeting on Interest Rates 

NEW YORK (AP) -- Wall Street battled back from sharp losses Tuesday to close mostly flat as investors sought buying opportunities and adjusted their holdings ahead of the Federal Reserve's meeting on interest rates.

Stocks were down for most of the session on concerns about what central bankers might say about the economy. However, the drop -- the first for the Dow Jones industrials in six sessions -- did make some prices look more attractive ahead of the Wednesday meeting.

Data released Tuesday showed the economy continues to sputter. The Commerce Department reported wholesalers' inventories grew at a slower rate in March, failing to meet projections. Meanwhile, the National Association of Realtors lowered its forecast for the housing market this year because of stricter lending standards and subprime woes.

Economic reports are expected to wield more influence on the direction of stocks as earnings announcements slow. The latest data did little to change expectations policymakers will leave rates unchanged, though Wall Street will really be looking for further direction about whether a hoped-for rate cut is in the offing.

"There's this wait-and-see pullback with regard to what the Fed might do on Wednesday," said Janna Sampson, a portfolio manager for Oakbrook Investments. "Given the run we've had, and a pretty strong start of the year, this might be a case of investors positioning their portfolios a little sooner than usual before the summer doldrums."

The Dow Jones industrial average fell 3.90, or 0.03 percent, to 13,309.07. The blue chip average had been up 24 of the last 27 sessions, and surpassed the 13,300 mark for the first time on Monday.

Broader stock indicators were narrowly mixed. The Standard & Poor's 500 index was down 1.76, or 0.12 percent, at 1,507.72, and the Nasdaq composite index rose 0.80, or 0.03 percent, to 2,571.75.

Fixed-income investors placed optimistic bets ahead of the Fed meeting, sending bonds higher. The yield of the benchmark 10-year Treasury note fell to 4.63 percent from 4.64 percent late Monday.

Meanwhile, the dollar was mixed against most major currencies, while gold prices were weaker.

Oil prices advanced amid fears of supply disruptions following the bombing of three major oil pipelines by the militants in Nigeria. A barrel of light, sweet crude rose 79 cents to $62.26 on the New York Mercantile Exchange.

This lifted major oil companies. Exxon Mobil Corp. rose 68 cents to $81.38. Chevron Corp. picked up 47 cents to $80.05, while ConocoPhillips fell 9 cents to $70.25.

Though most analysts expect stocks will continue to advance, there are rising expectations on Wall Street that a correction will be needed to sustain the bull run. Before Tuesday's breather, the S&P 500 was moving toward its all-time high of 1,527.46, reached on March 24, 2000, at the height of the dot-com boom; the Dow's recent run has been its best showing since 1927.

"If we keep marching up without a break, we will set ourselves up for another sell off," said Alan Brown, head of investment for Schroder Investment Management. "But, the fundamentals still look pretty encouraging to me provided of course that the U.S. slowdown does not turn into something much worse."

Investors were cautious ahead of the Fed meeting for several reasons, including speculation that policymakers, in their economic assessment statement Wednesday, won't give any clear hints about whether it will change its stance on rate hikes. Between June 2004 and June 2006, the Fed lifted rates 17 consecutive times to cool an overheated economy, and have left them unchanged since.

The Commerce Department said wholesale inventories increased 0.3 percent to a seasonally adjusted $393.23 billion in March. The results fell short of estimates of a 0.4 percent gain.

The National Association of Realtors projected existing home sales will fall 2.9 percent this year to 6.29 million, compared with its previous forecast for a 2.2 percent decline. The industry is facing significant headwinds as speculative buyers begin to pull back, leading to a downshift in the entire market, the group said.

In corporate news, Hewlett Packard Co. lifted its second-quarter forecast on strong results in its personal computer and server business. The stock rose $1.21, or 2.8 percent, to $45.01.

Dow Jones & Co. fell 51 cents to $55 after the Securities and Exchange Commission accused two Hong Kong residents of unlawful trading when they bought $15 million worth of the publisher's stock ahead of an announcement that News Corp. had put in a bid. News Corp. fell 20 cents to $23.65.

Warner Music Group Corp. fell 16 cents to $17.14. The company posted a wider second-quarter loss due to restructuring costs, but surpassed Wall Street's profit projections after excluding items.

Trading continued on takeover activity. AK Steel Holdings Corp. soared $2.96, or 9.2 percent, to $35.02 after a report the company was being eyed by ArcelorMittal, the world's largest steel maker.

Declining issues outpaced advancers by a 3 to 2 basis on the New York Stock Exchange, where consolidated volume came to 2.81 billion shares, up from 2.45 billion shares on Monday.

The Russell 2000 index of smaller companies was down 0.97, or 0.12 percent, at 830.90.

Overseas, Japan's Nikkei stock average closed 0.07 percent lower. Britain's FTSE 100 gave up 0.81 percent, Germany's DAX index fell 1.11 percent, and France's CAC-40 declined 0.61 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


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## bigdog

The NYSE DOW closed HIGHER by 53.8 points on Wednesday May 9:

Symbol ----- Last --- Change 
Dow 13,362.87  +53.80 (0.40%) 
Nasdaq 2,576.34  +4.59 (0.18%) 
S&P 500 1,512.58  +4.86 (0.32%) 
10-Yr Bond 4.6680%   +0.0340 
NYSE Volume 2,935,508,000 
Nasdaq Volume 2,192,705

http://biz.yahoo.com/ap/070509/wall_street.html?.v=49
Stocks Recover After Fed Rate Decision
Wednesday May 9, 5:42 pm ET 
By Madlen Read, AP Business Writer  
Stocks Resume Their Climb After Federal Reserve's Decision on Interest Rates 

NEW YORK (AP) -- Wall Street wobbled, then regained its stride Wednesday after the Federal Reserve told investors what they expected to hear: that inflation is still too high for comfort, but the central bank is holding interest rates steady. The Dow Jones industrials rose to another record close.

The central bank's Open Market Committee as anticipated left interest rates unchanged at 5.25 percent, as it has done since last summer. The statement that accompanied the decision was little changed from the one the Fed released after its last meeting in March; the assessment said policy makers are keeping their inflation watch the priority despite a slower economy.

Though some investors were hoping the Fed would raise the possibility of a future rate cut, they weren't surprised by the committee's stance. Moreover, they were relieved to hear the Fed is not more inclined than it has been to raise rates, a move that would make access to capital more expensive and potentially hurt the stock market.

"The Fed said we're not going anywhere," Larry Smith, chief investment officer at Third Wave Global Investors. "They're not saying inflation is going to the moon, they're not saying it's a huge problem right now, but they're concerned that inflation won't come down to their comfort range."

Stocks drew support Wednesday from more takeover news, particularly speculation about a possible bid by mining company BHP Billiton Ltd. for rival Rio Tinto Group. Investors were also pleased about a government report that showed that after three months of declines, the nation's gasoline inventories rose last week. If they keep increasing, fuel costs for U.S. drivers are likely to ease.

The Dow Jones industrial average rose 53.80, or 0.40 percent, to 13,362.87, after reaching a new trading high of 13,369.29. It was the blue chip index's 21st record close since the beginning of the year.

The Standard & Poor's 500 index advanced 4.86, or 0.32 percent, to 1,512.58 -- a new six-and-a-half-year high. The index is near its closing record of 1,527.46, reached March 24, 2000.

The Nasdaq composite index rose 4.59, or 0.18 percent, to 2,576.34.

The stock market has reacted well to the Fed's rate stance; the Dow has hit 43 record closes since the start of October, soon after the Fed stopped raising rates.

"I think the markets can react favorably without the Fed lowering rates," said Steven Goldman, chief market strategist at Weeden & Co., noting that rates will remain stable as long as the economy keeps growing moderately, as the Fed predicts it will, and inflation doesn't accelerate too much. "We walk this tight line, and equities continue to edge higher."

Bonds, however, have struggled in recent months, and the yield on the 10-year Treasury note remains lower than that of shorter-term issues -- indicating that traders are betting on even slower economic growth going forward. Bond prices dropped after the Fed statement, pushing the 10-year yield up to 4.67 percent from 4.64 percent late Tuesday, and the 2-year yield up to 4.73 percent.

The current interest rate environment is beneficial for the overall stock market, but not for bonds or financial institutions such as banks, noted Fred Cannon, Managing Director of Research at Keefe, Bruyette & Woods. "I would say the biggest risk to the banks is if the Fed stays on hold and we start to see credit deteriorate significantly."

Though market participants are not expecting a rate hike anytime soon, they will be closely reading Friday's report on producer prices and next week's data on consumer prices to gauge whether inflation is accelerating or moderating.

All the major stock indexes advanced Tuesday, boosted in part by signs that takeover activity will continue to surge. Rio Tinto's stock jumped $31.62, or 12 percent, to $296.27, on rumors that BHP Billiton might bid for the company. BHP rose $2.51, or 4.9 percent, to $53.41.

But the technology-laden Nasdaq posted weaker gains, as Cisco Systems Inc. reported an abrupt slowdown in orders from U.S. business in its quarterly financial results. The computer network equipment maker's stock fell $1.85, or 6.5 percent, to $26.51, even though its fiscal third-quarter profit soared 34 percent.

The dollar was mixed against other major currencies, while gold prices fell.

Crude oil prices dropped 71 cents to $61.55 a barrel on the New York Mercantile Exchange, after the U.S. government said the nation's gasoline stockpiles increased last week. Gas prices at the pump are still, on average, above $3 a gallon for regular unleaded.

Advancing issues outnumbered decliners by about 7 to 4 on the New York Stock Exchange, where volume came to 1.56 billion shares, up from 1.50 billion Tuesday.

The Russell 2000 index of smaller companies rose 3.87, or 0.47 percent, to a new record close of 834.77.

Overseas, Japan's Nikkei stock average rose 0.52 percent. Britain's FTSE 100 slipped 0.01 percent, Germany's DAX index advanced 0.45 percent, and France's CAC-40 added 0.29 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 147 points on Thursday May 10:

Symbol ----- Last --- Change 
Dow 13,215.13  -147.74 (1.11%) 
Nasdaq 2,533.74  -42.60 (1.65%) 
S&P 500 1,491.47  -21.11 (1.40%) 
10-Yr Bond 4.6480%   -0.0200 
NYSE Volume 3,031,238,000 
Nasdaq Volume 2,338,682,000 

Overseas, Japan's Nikkei stock average fell 0.06 percent. Britain's FTSE 100 fell 0.39 percent, Germany's DAX index lost 0.81 percent, and France's CAC-40 declined 0.64 percent.

http://biz.yahoo.com/ap/070510/wall_street.html?.v=49
Stocks Fall on Retail Sales Reports
Thursday May 10, 5:55 pm ET 
By Madlen Read, AP Business Writer  
Stocks Decline After Disappointing Retail Reports, Widening Trade Deficit 


NEW YORK (AP) -- Wall Street retreated sharply Thursday, slicing nearly 150 points off the Dow Jones industrial average after weak sales at many of the nation's major retailers heightened concerns about consumer spending.

The day's economic news, which also included a disquieting trade deficit figure, appeared to give investors the rationale they were looking for to cash in some of the market's recent gains. Analysts have been saying the surging stock market, which had pushed the Dow up more than 1,000 points since the beginning of March, was due for a pullback.

Companies including Wal-Mart Stores Inc., J.C. Penney Co. and Federated Department Stores Inc. said business fell in April, hurt by rising gasoline prices. Though many retail stocks had respectable gains Thursday, the reports raised worries that retail sales data from the Commerce Department Friday will also disappoint, and suggest that the economy is slower than previously thought.

The downturn in stocks followed a rise Wednesday that pushed the Dow to its 21st record close of the year, after the Federal Reserve left interest rates unchanged and reiterated that while the economy has slowed, inflation remains the central bank's primary concern. Thursday's sluggish retail sales and widening trade gap raised concerns that, while a rate cut may be necessary to boost the flagging economy, the central bank will be loathe to make one because of inflation.

"What the Federal Reserve said yesterday is that their principal focus is on inflation, and what retail sales said today is that their focus should be on the economy," said Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors. "Things are not good out there in economy land."

The Dow fell 147.74, or 1.11 percent, to 13,215.13, giving back five sessions' worth of gains. It was the biggest point drop in the blue-chip index since a 242-point plunge on March 13.

Broader stock indicators also saw their largest one-day point declines since March 13. The Standard & Poor's 500 index lost 21.11, or 1.40 percent, to 1,491.47, falling back below the 1,500 mark that it surpassed last week for the first time since September 2000.

The Nasdaq composite index dipped 42.60, or 1.65 percent, to 2,533.74.

Bonds rose after the weak economic data, with the yield on the benchmark 10-year Treasury note falling to 4.65 percent from 4.67 percent late Wednesday.

After reporting declines in April sales at stores open more than a year, Federated fell $1.72, or 3.9 percent, to $42.10; Wal-Mart fell 18 cents to $47.75; and J.C. Penney fell $1.41 to $76.80. Not all the retail sales news was negative -- teen clothing retailer Aeropostale, for example, lifted its first-quarter outlook and its stock rose 6.9 percent -- but overall, the U.S. retail scene looked gloomier than anticipated.

An additional disappointment was the U.S. trade deficit, which soared more than 10 percent to $63.9 billion in March, its highest level in six months. The gap, wider than economists' forecast of $60 billion, was driven up by high crude oil imports.

"Rising import prices are, all things equal, inflationary," said Alexander Paris, economist and market analyst for Chicago-based Barrington Research.

A Labor Department report that the number of laid-off workers seeking unemployment benefits fell last week failed to cheer investors, who had been expecting the decline.

Friday will be another data-focused day that could help decide whether Wall Street resumes its advance or embarks on a larger correction. The Labor Department will release its Producer Price Index, a gauge of inflation at the wholesale level that is expected to be boosted by high energy costs.

Crude oil prices rebounded Thursday from a decline a day earlier, rising 26 cents to $61.81 a barrel on the New York Mercantile Exchange.

Some weak earnings reports added to the negative mood on Wall Street.

Whole Foods Market Inc. said slowing sales growth and rising costs hurt its fiscal second-quarter profit, which missed Wall Street's expectations. The natural and organic food retailer dropped $4.65, or 10 percent, to $41.15.

Interpublic Group of Cos. said its first-quarter loss narrowed, but analysts had forecasted better results. The advertising and marketing agency dropped 93 cents, or 7.2 percent, to $12.01.

The dollar was mixed against other major currencies, while gold prices fell.

Declining issues outnumbered advancers by more than 3 to 1 on the New York Stock Exchange. Consolidated volume came to 3.04 billion shares, up from 2.89 billion Wednesday.

The Russell 2000 index of smaller companies fell 16.14, or 1.93 percent, to 818.63, retreating from Wednesday's record close.

Overseas, Japan's Nikkei stock average fell 0.06 percent. Britain's FTSE 100 fell 0.39 percent, Germany's DAX index lost 0.81 percent, and France's CAC-40 declined 0.64 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Great news today because change of direction.

The NYSE DOW closed HIGHER by 53.8 points on Wednesday May 9:

Symbol ----- Last --- Change 
Dow 13,326.22  +111.09 (0.84%) 
Nasdaq 2,562.22  +28.48 (1.12%) 
S&P 500 1,505.85  +14.38 (0.96%) 
10-Yr Bond 4.6700%   +0.0220 
NYSE Volume 2,683,451,000 
Nasdaq Volume 1,789,728,000 

Overseas, Japan's Nikkei stock average closed down 1.03 percent. Britain's FTSE 100 rose 0.64 percent, Germany's DAX index rose 0.86 percent, and France's CAC-40 rose 0.63 percent.

Stocks Soar on Inflation, Sales Data
Friday May 11, 5:13 pm ET 
By Joe Bel Bruno, AP Business Writer  
Wall Street Resumes Advance After Inflation, Retail Sales Reports Raise Interest Rate Hopes 

NEW YORK (AP) -- Wall Street resumed its advance Friday as investors interpreted a government report of milder inflation as a signal that the Federal Reserve might consider cutting interest rates later this year. The Dow Jones industrial average soared more than 100 points, and posted its fifth straight weekly gain.

Investors were encouraged after the Labor Department's producer price index -- which measures the rate of inflation experienced by manufacturers when they purchase goods -- suggested inflation is moderating. This raised hopes on Wall Street that central bankers won't need to hike interest rates to keep the economy in check, and might even lean toward lowering them.

With corporate earnings reports slowing, the market has put more weight on economic data to help find a direction. The fresh batch of economic reports could help assure central bankers that they have navigated the economy toward a soft landing in which growth slows enough to restrain inflation.

The stronger economic news, especially about inflation, injected a new dose of confidence that central bankers can now begin to mull a rate cut. It also helped reignite a rally stopped short Thursday after retail sales reports dimmed expectations about consumer confidence.

"To some degree, the advance is in reaction to the sharp selling on Thursday," said Richard Cripps, chief market strategist for Stifel Nicolaus. "The market was due for a blowoff, and I think the data you got this morning don't get in the way of the positive trend under way. A fair amount of investors want to be in the market."

The Dow advanced 111.09, or 0.84 percent, to 13,326.22 -- the biggest point rise so far this month. The index gained back most of the nearly 150 points it lost Thursday. It had reached a record Wednesday, its 21st record close since the start of the year and 43rd since the beginning of October.

Broader stock indicators also advanced. The Standard & Poor's 500 index rose 14.38, or 0.96 percent, to 1,505.85, and the Nasdaq composite index rose 28.36, or 1.12 percent, to 2,562.10.

The Dow, which passed 13,300 for the first time Monday, rose 0.46 percent for the week. The S&P 500 gained 0.02 percent for the week, and the Nasdaq fell 0.39 percent.

Treasury investors did not appear to believe the producer price data significantly raised the possibility of a rate cut. Bond prices fell, paring earlier gains after investors shrugged off the PPI and refocused on the rising stock market -- which reduces the need for investment in safe-haven bonds. The 10-year yield rose to 4.68 percent, up from 4.64 percent late Thursday.

The dollar was mixed against other major currencies, while gold prices rose.

The Labor Department's producer price index rose to 0.7 percent in April, meeting Wall Street expectations and falling below the March reading of 1.0 percent. The core PPI, which excludes food and energy prices, was unchanged for the second month in a row.

"It looks like inflation is very tamed," said Kim Caughey, equity research analyst at Fort Pitt Capital Group, adding that the PPI bodes well for next week's consumer price index and makes a rate increase appear less likely.

The Federal Reserve on Wednesday left interest rates unchanged. Policy makers ended a campaign of 17-straight interest rate hikes in June.

Caughey noted, however, that although the Fed looks primarily at core inflation, rising fuel costs could still pose a problem for the stock market: "The wildcard is gasoline prices. They terribly affect consumers, and we have to remember they are 66 percent of our economy."

Crude oil futures rose 56 cents to $62.37 a barrel on the New York Mercantile Exchange. The average U.S. retail price for a gallon of gasoline Friday was $3.042, according to AAA.

Consumer spending has been looking sluggish: the Commerce Department said retail sales unexpectedly fell in April by 0.2 percent, after rising an upwardly revised 1.0 percent in March. Originally, March sales were reported up 0.7 percent.

In corporate news, American International Group Inc. reported first-quarter profit rose 29 percent, but disclosed it would take a pretax charge from its subprime loan exposure. The world's largest insurer -- and one of the 30 companies that make up the Dow -- rose 38 cents to $72.58.

Chicago Mercantile Exchange Holdings Inc. sweetened its offer for CBOT Holdings Inc. by more than 16 percent, hoping to head off a still-higher counteroffer from IntercontinentalExchange Holdings Inc.

Shares of the CBOT rose $7.35, or 3.8 percent, to $201.35, while the Chicago Merc added $38.35, or 7.7 percent, to $536.30. IntercontinentalExchange rose $5.70, or 4.2 percent, to $140.55.

Telecommunications equipment maker Alcatel-Lucent SA posted a loss of $10.8 million for the first quarter due to effects from the merger that formed the company. However, shares jumped 57 cents, or 4.4 percent, to $13.57 after it promised a strong second half.

Advancing issues led decliners by more than 3 to 1 on the New York Stock Exchange, where volume came to 1.41 billion shares, down from 1.56 billion Friday.

The Russell 2000 index of smaller companies was up 10.91, or 1.33 percent, at 829.54.

Overseas, Japan's Nikkei stock average closed down 1.03 percent. Britain's FTSE 100 rose 0.64 percent, Germany's DAX index rose 0.86 percent, and France's CAC-40 rose 0.63 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


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## bigdog

The NYSE DOW closed HIGHER by 20.5 points on Monday May 14:

Symbol ----- Last --- Change 
Dow 13,346.78  +20.56 (0.15%) 
Nasdaq 2,546.44  -15.78 (0.62%) 
S&P 500 1,503.15  -2.70 (0.18%) 
10-Yr Bond 4.69%   +0.02 
NYSE Volume 2,776,131,000 
Nasdaq Volume 2,081,090,000

Overseas, Japan's Nikkei stock average rose 0.71 percent. Britain's FTSE 100 lost 0.16 percent, Germany's DAX index dropped 0.26 percent, and France's CAC-40 dipped 0.40 percent.

http://biz.yahoo.com/ap/070514/wall_street.html?.v=31
Stocks Are Mixed As Investors Await CPI
Monday May 14, 6:14 pm ET 
By Madlen Read, AP Business Writer  
Wall Street Gives Up Early Gains, Turn Mixed Ahead of Consumer Price Index 

NEW YORK (AP) -- Wall Street closed narrowly mixed Monday after investors, uneasy about the government's upcoming inflation data, cashed in some of their gains from the market's months-long rally.

Blue chip stocks managed a modest increase following DaimlerChrysler AG's announcement that it will sell 80.1 percent of money-losing Chrysler Group to Cerberus Capital Management LP, a private equity group, for $7.4 billion. The deal, which lifted stocks in the automotive sector, undoes a 1998 merger aimed at creating a global auto giant.

The news buoyed the Dow Jones industrial average briefly to a new trading high, but the overall stock market dipped, with many investors wary ahead of Tuesday's release of the Labor Department's Consumer Price Index, a key measure of inflation.

"People are waiting to get a better read on some of the pricing data," said Jack Caffrey, equities strategist at J.P. Morgan Private Bank. "It does seem like there's a bit of a holding pattern."

The market expects the April CPI to have risen 0.5 percent, slower than in March, but it anticipates the core figure -- which strips out food and energy prices -- will have risen 0.2 percent, a slightly larger jump than March's 0.1 percent increase. A report that suggests consumer costs are climbing much faster could frustrate investors hoping for an interest rate cut from the Federal Reserve later in the year.

The Dow advanced 20.56, or 0.15 percent, to 13,346.78, after rising in the morning to a trading record of 13,383.76.

Broader stock indicators fell. The Standard & Poor's 500 index declined 2.70, or 0.18 percent, to 1,503.15, and the Nasdaq composite index lost 15.78, or 0.62 percent, to 2,546.44.

Bonds fell slightly, as many investors stayed on the sidelines ahead of Tuesday's economic data, which will include the National Association of Home Builders' housing market index. The yield on the benchmark 10-year Treasury note edged up to 4.69 percent from 4.68 percent late Friday.

The dollar was mixed against other major currencies, while gold prices fell.

DaimlerChrysler rose $2.12, or 2.6 percent, to $84.12. Other automakers advanced as well, boosted by the Chrysler deal: General Motors, one of the 30 Dow components, rose $1.16, or 3.9 percent, to $30.62. Ford Motor Co. rose 34 cents, or 4.1 percent, to $8.71.

Other takeover news on Monday included Cardinal Health's agreement to buy Viasys Healthcare Inc. for $1.42 billion. Viasys rose $11.63, or 36.9 percent, to $43.18, and Cardinal Health rose 12 cents to $69.19.

Merger-and-acquisition activity has played a big role in the stock market's surge over the past several months, as investors consider it a good sign that corporate America is faring well amid the nation's economic slowdown.

But caution ahead of Tuesday's data dampened Monday's takeover excitement. Tuesday will not only bring inflation and housing reports, but also quarterly financial results -- notably from DaimlerChrysler, and Dow components Wal-Mart Stores Inc. and Home Depot Inc.

Last week, same-store sales figures suggested that consumer spending, which accounts for two-thirds of total economic activity, is waning. Wal-Mart reported Thursday that April's U.S. sales decline was its worst monthly slide since the world's largest retailer began reporting same-store sales results in 1980.

"I think right now the deals going on in the market are helping more than the consumer," said Neil Massa, equity trader at John Hancock Funds.

The stock market is not as dependent on a strong consumer as gross domestic product is, noted Caffrey. But any negative surprises going forward could cause a selloff in stocks, considering how far they have climbed in such a short period of time. The Dow has hit 21 record closes since the beginning of the year.

"The volatility should be higher than it has been. Ultimately, we think at year-end things will be higher than they are today, but there will be bumps along the way," Caffrey said.

The average U.S. retail gasoline price climbed to a record high of $3.07 a gallon, according to AAA, surpassing levels seen after Hurricane Katrina battered the Gulf Coast.

Crude oil rose 9 cents to $62.46 a barrel on the New York Mercantile Exchange.

Declining issues outnumbered advancers by 7 to 4 on the New York Stock Exchange, where consolidated volume came to 2.65 billion shares, down from 2.68 billion Friday.

The Russell 2000 index of smaller companies fell 7.21, or 0.87 percent, to 822.33.

Overseas, Japan's Nikkei stock average rose 0.71 percent. Britain's FTSE 100 lost 0.16 percent, Germany's DAX index dropped 0.26 percent, and France's CAC-40 dipped 0.40 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


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## bigdog

The NYSE DOW closed HIGHER by 37 points on Tuesday May 15:

Symbol ----- Last --- Change 
Dow 13,383.84  +37.06 (0.28%) 
Nasdaq 2,525.29  -21.15 (0.83%) 
S&P 500 1,501.19  -1.96 (0.13%) 
10-Yr Bond 4.71%   +0.02 
NYSE Volume 3,112,510,000 
Nasdaq Volume 2,286,109,000

Overseas, Japan's Nikkei stock average closed down 0.93 percent. Britain's FTSE 100 gained 0.20 percent, Germany's DAX index rose 0.61 percent, and France's CAC-40 added 0.39 percent.

http://biz.yahoo.com/ap/070515/wall_street.html?.v=58
Stocks Retreat After Housing Report
Tuesday May 15, 6:04 pm ET 
By Joe Bel Bruno, AP Business Writer  
Stocks Mixed After Tame Inflation Data, Drop in Housing Index; Dow Briefly Crosses 13,400 

NEW YORK (AP) -- Wall Street gave up a huge advance and closed mixed Tuesday after an unimpressive snapshot of the housing market unsettled investors. The Dow Jones industrials, which surpassed 13,400 early in the session, slipped back but still eked out a record close.

Investors who initially bought enthusiastically following a tame reading on inflation decided to cash in some of their gains after the National Association of Homebuilders said its housing index dropped to 30 from 33 in April, indicating a deteriorating housing outlook.

The stock market followed a months-long pattern of rising on upbeat economic data only to give back gains on the latest report of a decline in housing. The day's movement also followed the recent pattern of blue-chip stocks performing better than their smaller counterparts.

"We've got a real dichotomy going on here," said Stephen Massocca, president of Pacific Growth Equities. "Big corporate America, the staid and stodgy companies, are doing well. They're going up today. Stocks that are riskier, stocks that are smaller, stocks in the emerging market vein or technology vein, those are being sold."

The Dow had surged more than 130 points by midday trading, breezing past 13,400 after the inflation data raised hopes that the Federal Reserve might cut interest rates later this year. The Labor Department said prices paid by consumers rose less than expected in April, and indicated that inflation may be easing as the economy continues to cool. The consumer price index rose 0.4 percent after rising 0.6 percent in March, while core prices -- which exclude food and energy -- rose 0.2 percent after a 0.1 percent gain.

The Dow rose 37.06, or 0.28 percent, to 13,383.84, after rising to a new trading high of 13,481.60. The modest climb nudged the blue-chip index to its 22nd record close this year.

Broader indexes slipped. The Standard & Poor's 500 index fell 1.96, or 0.13 percent, at 1,501.19.

The technology-dominated Nasdaq composite index fell 21.15, or 0.83 percent, to 2,525.29.

"I think you've got certainly a slower economy, and companies and people aren't all that keen to spend on new technology," said Scott Wren, senior equity strategist at AG Edwards. "There's also a lot of competition in the market, so the Nasdaq is likely to lag a little."

Since the Dow broke through 12,000 for the first time in October, it has become almost routine for the blue chip index to set new records. The overall market advance has also lifted the S&P 500 near its record close of 1,527.46, reached in the spring of 2000. However, the Nasdaq still remains well off its closing high of 5,048.62, also reached during the peak of the dot-com boom; the index was overinflated by investors rushing to buy any high-tech stock.

Investors have been driven by optimism that the Fed is done with its campaign of rate hikes, and that it will soon start lowering rates. Still, when new data reminds them of the fragility of the housing markets, they tend to retrench as they did Tuesday.

Bond prices finished lower after the mixed data. The yield on the benchmark 10-year Treasury note rose to 4.71 percent from 4.69 percent late Monday. The dollar fell against other major currencies, while gold prices advanced.

A barrel of light sweet crude rose 71 cents to $63.17 on the New York Mercantile Exchange. Concerns lingered in the commodities market about refinery problems and uncertainties over whether U.S. gasoline inventories can meet summer driving demand.

Investors were mostly undeterred by disappointing first-quarter results from Dow components Home Depot Inc. and Wal-Mart Stores Inc. Both companies are considered to be barometers of consumer spending, and weaker sales were interpreted as another sign of a slowing economy that could also motivate the Fed to cut rates.

Home Depot, the nation's largest home improvement chain, posted lower quarterly profit as a sluggish U.S. housing market dented sales. Sales at stores open at least a year, an important measure of how retailers fared, slumped 7.6 percent.

Wal-Mart Stores, the world's largest retailer, missed Wall Street projections and warned second-quarter results might be disappointing. Last week, it reported April same-store sales were the weakest its history for April.

Shares of Wal-Mart fell 22 cents to $47.62, while Home Depot shed 71 cents to $38.30. Lowe's Cos., the second-largest home improvement chain, fell 10 cents to $30.89.

Reuters Group PLC agreed Tuesday to a $17.2 billion takeover by Thomson Corp. that would vault the combined entity ahead of Bloomberg to become the world's largest financial data and news provider. Shares of Reuters rose $2.72, or 3.8 percent, to $74.34; Thomson rose 16 cents to $42.16.

Declining issues outnumbered advancers by about 3 to 2 on the New York Stock Exchange, where consolidated volume came to 3.09 billion shares, up from 2.65 billion Friday.

The Russell 2000 index of smaller companies fell 8.15, or 0.99 percent, to 814.18.

Overseas, Japan's Nikkei stock average closed down 0.93 percent. Britain's FTSE 100 gained 0.20 percent, Germany's DAX index rose 0.61 percent, and France's CAC-40 added 0.39 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


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## bigdog

The NYSE DOW closed HIGHER by 103.69 points on Wednesday May 16:

Symbol ----- Last --- Change 
Dow 13,487.53  +103.69 (0.77%) 
Nasdaq 2,547.42  +22.13 (0.88%) 
S&P 500 1,514.14  +12.95 (0.86%) 
10-Yr Bond 4.708%   -0.004 
NYSE Volume 2,915,354,000 
Nasdaq Volume 2,172,389,000 

Overseas, Japan's Nikkei stock average closed up 0.09 percent. Britain's FTSE 100 fell 0.14 percent, Germany's DAX index fell 0.32 percent, and France's CAC-40 fell 0.53 percent.

Stocks Surge to Another Record Close
http://biz.yahoo.com/ap/070516/wall_street.html?.v=51
Stocks Up Despite Mixed Housing Data
Wednesday May 16, 5:49 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Rise Following Data on Industrial Production, Housing Starts 

NEW YORK (AP) -- Wall Street shot higher Wednesday after investors shrugged off a mixed reading on the housing sector and focused on the positives: a jump in industrial output, a retreat in crude oil prices and new cash pouring into the stock market. The Dow Jones industrials rose 103 points to another closing record.

Stocks initially slipped after Commerce Department data showed applications for building permits fell by the biggest amount in 17 years during April punctured an early rally. But they gradually regained strength, finding support from a Federal Reserve report that showed industrial output rose more than expected in April, and a rebound in U.S. crude and gasoline inventories that caused crude oil prices to pull back.

News that billionaires Warren Buffett, Edward Lampert and Carl Icahn were upping equity investments also gave investors confidence that stocks have further to climb, although the Dow has risen more than 1,300 points in the past two months.

Investors seem to be choosing to take weak housing data in stride; a lackluster read on home sales on Tuesday upended a big rally in stocks that sent the Dow Jones industrials briefly above 13,400 for the first time, but the market quickly regained its footing Wednesday.

"We seem to be in a period of time where it doesn't make a difference what the news is -- the market seems to find a reason to go up," said Ron Kiddoo, chief investment officer at Cozad Asset Management. "How long will this last? It's anybody's guess."

The Dow rose 103.69, or 0.77 percent, to 13,487.53, to its 23rd record close of the year. It also hit a new trading high, 13,489.57.

Broader stock indicators advanced. The Standard & Poor's 500 index gained 12.95, or 0.86 percent, to 1,514.14, and the Nasdaq composite index rose 22.13, or 0.88 percent, to 2,547.42.

Strength in sectors such as airlines, helped by falling oil prices, gave a lift to stocks. United Airlines parent UAL Corp. advanced $1.32, or 4 percent, to $34.62; Continental Airlines Inc. rose $1.48, or 4 percent, to $37.83; and American Airlines parent AMR Corp gained $1.28, or 5 percent, to $26.66.

Bonds showed little change despite the economic readings. The yield on the benchmark 10-year Treasury note remained flat at 4.71 percent from late Tuesday. The dollar was mostly higher against other major currencies, while gold prices fell.

Light, sweet crude fell 62 cents to $62.55 per barrel on the New York Mercantile Exchange. Crude prices have risen in recent sessions amid concerns about supply disruptions, particularly in Nigeria, but Wednesday's U.S. inventory data showed domestic gasoline and crude inventories rose more than expected last week -- a development that investors hope will help pull U.S. pump prices back below $3 a gallon.

While Wall Street often has an appetite for economic data as it tries to determine where the economy is headed, it sometimes looks past good or bad economic news. In a potentially worrisome sign, requests for new construction permits fell 8.9 percent in April, the biggest drop since a 24 percent plunge in February 1990; but investors were pleased to see that construction of homes and apartments increased 2.5 percent in April from March to a seasonally adjusted annual rate of 1.528 million units.

"It seems like the market has taken a lot of the news positively this year whereas last year investors might have reacted negatively," said Paul Alan Davis, a portfolio manager at Charles Schwab Investment Management Inc.

Investors also embraced the Fed's report that industrial output rose by 0.7 percent in April. The gain was more than double the 0.3 percent gain that had been expected and in part reflected a rebound in manufacturing. In March, output fell 0.3 percent.

In corporate news, Citigroup Inc., one of the 30 stocks in the Dow industrials, rose $2.12, or 4 percent, to $54.91 after billionaire hedge fund manager Edward S. Lampert said he acquired more than 15 million shares of the financial services conglomerate.

Warren Buffett's Berkshire Hathaway Inc., meanwhile, reported in a regulatory filing that it doubled its stake in Johnson & Johnson, also a Dow component. Johnson & Johnson rose $1.23, or 2 percent, to $63.05.

In another sign that liquidity is high and likely to keep buoying stocks, Carl Icahn's fund disclosed a new 3.1 million share stake in oil and gas producer Anadarko Petroleum Corp. and a new 2.7 million share stake in CSX Corp. Anadarko rose 73 cents to $47.20, and CSX Corp. rose 66 cents to $46.40.

Injecting the market with an extra dose of confidence, corporate takeover activity keeps soaring. Bausch & Lomb Inc. rose $6, or 9.8 percent, to $67.50 after private equity concern Warburg Pincus struck a deal to acquire the eye-care product maker, which has faced product recalls and accounting troubles, for about $3.67 billion.

The Russell 2000 index of smaller companies rose 6.02, or 0.74 percent, to 820.20.

Advancing issues outnumbered decliners by about 5 to 3 on the New York Stock Exchange, where consolidated volume came to 2.82 billion shares, down from 3.09 billion on Tuesday.

Overseas, Japan's Nikkei stock average closed up 0.09 percent. Britain's FTSE 100 fell 0.14 percent, Germany's DAX index fell 0.32 percent, and France's CAC-40 fell 0.53 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


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## bigdog

The NYSE DOW closed LOWER by 10.8 points on Thursday May 17:

Symbol ----- Last --- Change 
Dow 13,476.72  -10.81 (0.08%) 
Nasdaq 2,539.38  -8.04 (0.32%) 
S&P 500 1,512.75  -1.39 (0.09%) 
10-Yr Bond 4.7560%   +0.0480 
NYSE Volume 2,880,804,000 
Nasdaq Volume 2,016,572,000 

Overseas, Japan's Nikkei stock average fell 0.17 percent. 
Britain's FTSE 100 rose 0.30 percent, Germany's DAX index rose 0.24 percent, and France's CAC-40 rose 0.15 percent.

http://biz.yahoo.com/ap/070517/wall_street.html?.v=46
Stocks Retreat After Mixed Economic Data
Thursday May 17, 5:29 pm ET 
By Madlen Read, AP Business Writer  
Stocks Fall, Putting Big Rally on Hold After Mixed Bag of Data; Dow Briefly Passes 13,500 

NEW YORK (AP) -- Wall Street retreated modestly in wobbly trading Thursday, putting its buying spree on hold to mull over mixed economic data. The Dow Jones industrial average briefly surpassed 13,500 for the first time, then pulled back.

Investors refrained from making any big moves after data Thursday showed strength in some areas of the economy, particularly employment, but weakness in others -- giving little indication about whether the Federal Reserve will lean toward an interest rate cut later in the year.

Robust economic data Thursday included the Labor Department's report that jobless claims fell last week for the fifth straight week, and the Philadelphia Fed's May manufacturing index, which showed a stronger-than-anticipated increase. But the Conference Board forecasted slower economic growth, with its April index of leading economic indicators declining more than expected.

Ultimately, it was a fairly directionless day on Wall Street, with investors uninspired by Thursday's data and more eager to hear about Friday's consumer sentiment report from the University of Michigan, said John O'Donoghue, co-head of equities at Cowen & Co.

"The market's kind of on this monotonous grind higher, and you'll have days where you have a pause in the marketplace," O'Donoghue said. "But it doesn't seem like we're going to have a correction anytime soon."

New takeover activity, which has helped bring the Dow up more than 1,200 points over the past two months, failed to fuel a rally Thursday. Alliance Data Systems Corp. agreed Thursday to a $6.43 billion takeover by Blackstone Group, right after Acxiom Corp. said late Wednesday it was being bought by two private equity firms for $2.24 billion.

The Dow fell 10.81, or 0.08 percent, to 13,476.72, after rising as high as 13,516.71. On Wednesday, the index reached its 23rd record close of the year.

Broader indexes also declined. The Standard & Poor's 500 index lost 1.39, or 0.09 percent, to 1,512.75, and the Nasdaq composite index fell 8.04, or 0.32 percent, to 2,539.38.

Bonds fell after the unemployment data, pushing up the yield on the benchmark 10-year Treasury note to 4.76 percent from 4.71 percent late Wednesday.

Crude oil prices rebounded sharply on supply fears ahead of the summer driving season. A barrel of light sweet crude rose $2.31 to $64.86 on the New York Mercantile Exchange -- a bad sign for U.S. drivers, who have been seeing gasoline prices hit new records day after day.

The dollar rose against other major currencies, while gold prices fell.

Many market watchers say stocks may eventually see a big dip as investors cash in profits, but that the long-term trend for the market is positive.

"It's not one of those you-can't-lose situations, but the odds are stacked in your favor if you're a disciplined investor. There's more room for catch-up," said Philip S. Dow, managing director of equity strategy at RBC Dain Rauscher in Minneapolis. He added that it's only a matter of time before the S&P 500 hits a new record above its closing high of 1,527.46 reached in March 2000.

One reason for optimism is the abundance of cash in the marketplace, as evinced by the recent slew of takeover deals.

After their takeover offers were announced, private-label credit card services provider Alliance Data Systems rose $15.50, or 25 percent, to $78.46, and data management company Acxiom rose $4.28, or 18 percent, to $27.95.

The best performer among the 30 Dow components was Boeing Co., which said it struck a tentative deal to avoid a machinist union strike. The aerospace manufacturer rose $1.45 to $96.79, after peaking at an all-time high of $97.18.

The worst Dow performer was Caterpillar Inc., which fell $1.11 to $74.84 after a Stifel Nicolaus analyst downgrade.

In other corporate news, Sun Microsystems Inc. late Wednesday announced its board approved a buyback of up to $3 billion in outstanding shares. Its stock rose 18 cents, or 3.5 percent, to $5.30.

J.C. Penney Co. posted a 13 percent increase in first-quarter profit that exceeded analyst expectations, and raised its profit outlook for the year. The department store chain climbed $4.02, or 5.3 percent, to $79.74.

A speech Thursday by Federal Reserve Chairman Ben Bernanke in Chicago provided investors with little incentive to buy stocks. Bernanke acknowledged the number of mortgage defaults was growing, but said the problem would not seriously hurt the economy.

Declining issues outnumbered advancers by about 5 to 3 on the New York Stock Exchange, where volume came to 1.46 billion shares, down from 1.51 billion Wednesday.

The Russell 2000 index of smaller companies fell 4.56, or 0.56 percent, to 815.64.

Overseas, Japan's Nikkei stock average fell 0.17 percent. Britain's FTSE 100 rose 0.30 percent, Germany's DAX index rose 0.24 percent, and France's CAC-40 rose 0.15 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


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## bigdog

The NYSE DOW closed HIGHER by 79.8 points on Friday May 18:

Symbol ----- Last --- Change 
Dow 13,556.53  +79.81 (0.59%) 
Nasdaq 2,558.45  +19.07 (0.75%) 
S&P 500 1,522.75  +10.00 (0.66%) 
10-Yr Bond 4.8040%   +0.0480 
NYSE Volume 2,936,809,000 
Nasdaq Volume 2,062,625,000 

Overseas, Japan's Nikkei stock average closed down 0.57 percent. 

Britain's FTSE 100 rose 0.94 percent, Germany's DAX index closed up 1.44 percent at its highest level of the year, and France's CAC-40 rose 1.23 percent.

Dow Hits New Record High

http://biz.yahoo.com/ap/070518/wall_street.html?.v=36
Stocks Surge on Corporate Takeover News
Friday May 18, 4:22 pm ET 
By Tim Paradis, AP Business Writer  
Stock Rise on Takeover Deals, Stronger-Than-Expected Consumer Confidence 


NEW YORK (AP) -- Stocks surged higher Friday as another round of corporate takeovers prodded investors to continue a largely uninterrupted months-long buying streak. The Dow Jones industrial average registered its 24th record close this year and the Standard & Poor's 500 index came within striking distance of its record high.

Beyond the buyout news, which has lent buoyancy to the markets for months, a stronger-than-expected reading on consumer sentiment helped investors set aside some concern that consumers unnerved by higher gas prices would pare back spending and up-end the economy's smooth slowdown.

The latest takeover news, including deals involving marquee names like General Electric Co. and Microsoft Corp., signaled that the enormous amount of liquidity that has lubricated global stock markets in recent months doesn't appear on the verge of evaporating.

"The M&A activity and earnings seem to be holding up better than expected. I think you're going to see more of this," said Bill Dwyer, Chief Investment Officer at MTB Investment Advisors, referring to merger and acquisition deals as well as surprisingly strong profits.

According to preliminary calculations, the Dow rose 79.81, or 0.59 percent, to 13,556.53. The blue chips set a new trading high of 13,558.48, having crossed 13,500 for the first time on Thursday. The Dow has been on a strong run since early April.

Broader stock indicators also advanced. The Standard & Poor's 500 index rose 10.00, or 0.66 percent, to 1,522.75, its highest level in more than six years. The index came within fewer than 5 points of its record close of 1,527.46, set in March 2000.

The Nasdaq composite index rose 19.07, or 0.75 percent, to 2,558.45.

Bonds fell as the market appeared to look past China's announcement of an interest rate increase and a widening of the range at which the yuan can trade. A rising Chinese currency would make Chinese imports less competitive in the United States. The yield on the benchmark 10-year Treasury note rose to 4.81 percent from 4.76 percent late Thursday. The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude rose 8 cents to $64.94 per barrel on the New York Mercantile Exchange.

Investors appeared unfazed by rising oil prices, instead focusing on corporations' continued appetite for merger deals. The Wall Street Journal reported GE is near a deal to sell its plastics division to a Saudi Arabian industrial giant for $11 billion. GE rose 43 cents to $36.96.

Microsoft struck an agreement to acquire online advertising company aQuantive Inc. for about $6 billion in cash, paying a premium following a rush of major online ad deals by its competitors in the past six weeks. AQuantive soared $27.92, or 77.8 percent, to $63.79, while Microsoft slipped 15 cents to $30.83.

The buyout news came alongside favorable economic findings. The preliminary Reuters/University of Michigan index of consumer sentiment for May came in at 88.7. Wall Street had expected the reading would be unchanged from April at 87.1.

The mood of consumers remains important to the economy as consumer spending makes up two-thirds of U.S. economic activity. Perhaps giving investors further room for confidence, retailers J.C. Penney Co., Kohl's Corp. and Nordstrom Inc. on Thursday each posted earnings that topped Wall Street's expectations.

The reports came amid record gasoline prices -- which are averaging more than $3 per gallon nationwide. Higher gas prices could dent consumer spending, however, particularly at retailers such as Wal-Mart Stores Inc., whose primary customers are often sensitive to increases at the pump.

The recent rise in oil prices sent helped send shares of energy companies higher. ConocoPhillips rose $1.60, or 2.2 percent, to $74.85, while Exxon Mobil Corp. advanced $1.46 to $83.26.

In other corporate news Friday, Trump Entertainment Resorts Inc. rose $2.73, or 21 percent, to $15.80 after the casino and hotel operator said would-be suitors have shown interest in buying the company. Trump, which last year hired Merrill Lynch to explore the company's options, did not disclose the interested buyers.

Intuit Inc. jumped $3.84, or 13.9 percent, to $31.56 after the software maker said its third-quarter profit rose 23 percent. The company's fiscal 2007 profit forecast outstripped Wall Street's expectations.

Advancing issues outnumbered decliners by about 5 to 3 on the New York Stock Exchange, where volume came to 1.65 billion shares.

The Russell 2000 index of smaller companies rose 8.02, or 0.98 percent, to 823.66.

Overseas, Japan's Nikkei stock average closed down 0.57 percent. Britain's FTSE 100 rose 0.94 percent, Germany's DAX index closed up 1.44 percent at its highest level of the year, and France's CAC-40 rose 1.23 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 13.65 points on Monday May 21:

Symbol ----- Last --- Change 
Dow 13,542.88  -13.65 (0.10%) 
Nasdaq 2,578.79  +20.34 (0.80%) 
S&P 500 1,525.10  +2.35 (0.15%)
10-Yr Bond 4.7880%   -0.0160 
NYSE Volume 3,465,355,000 
Nasdaq Volume 2,006,744,000 

Overseas, Japan's Nikkei stock average rose 0.90 percent. 
Britain's FTSE 100 slipped 0.06 percent, Germany's DAX index added 0.15 percent, and France's CAC-40 fell 0.18 percent.

http://biz.yahoo.com/ap/070521/wall_street.html?.v=43

Monday May 21, 5:53 pm ET 
By Madlen Read, AP Business Writer  
Stocks Finish Mixed After Lifting S&P 500 Past Closing High for First Time Since 2000 

NEW YORK (AP) -- Wall Street reached another milestone during a muted session Monday, when the Standard & Poor's 500 index briefly passed its record close of 1,527.46 for the first time in more than seven years.

The S&P 500, considered by market professionals the best indicator of stock performance, surpassed the mark shortly after noon following news of a fresh spate of takeover deals. The broad market index has lagged the Dow Jones industrial average in recovering from Wall Street's prolonged slump earlier this decade.

The S&P 500 rose as high as 1,529.87, then edged back to 1,525.10, up 2.35, or 0.15 percent, as cautious investors locked in some profits after weeks of gains. The index's advance was driven by buying in non-technology sectors such as energy, materials, industrials and financials, S&P data showed. It is still well below its all-time trading high of 1,552.87 set on March 24, 2000, the same day the index reached its record close.

Reassuring Wall Street Monday that acquisition activity will keep up its record pace this year, General Electric Co. said it is selling its plastics division to Saudi Arabia's largest industrial company, Saudi Basic Industries Corp., for $11.6 billion.

The announcement followed news Sunday that telecommunications company Alltel Corp. agreed to be bought for $24.8 billion, and that China's upstart state investment company was investing $3 billion in Blackstone Group LP. Blackstone, the second-largest U.S. private equity firm, is planning an initial public offering for later this year, and has been on a buying tear; just last week, it snapped up credit card services provider Alliance Data Systems Corp. for $6.43 billion.

The Dow retreated modestly after venturing further into record territory earlier in the day. The blue chip index fell 13.65, or 0.10 percent, to 13,542.88 after hitting an intraday high of 13,586.03.

The Nasdaq composite index rose 20.34, or 0.80 percent, to 2,578.79, after reaching a six-year high of 2,587.87. The index rose as Amazon.com's stock saw big gains, and as investors bought up small-cap stocks, which have been trailing large-cap stocks this year.

The Russell 2000 index of smaller companies rose 9.99, or 1.21 percent, to 833.65, after hitting an intraday high of 837.19. It is still below its record close of 834.77 reached May 9.

In early 2000, all the major stock market indicators reached record highs, only to be dragged down by the end of the dot-com boom, recession, the 2001 terror attacks and a series of corporate scandals including the collapse of Enron Corp. The S&P 500 fell to a low of 776.76 in October 2002 at the depths of a three-year bear market on Wall Street.

The market recovered slowly, but it wasn't until last October that the more widely recognized Dow Jones industrial average surpassed its own previous closing high of 11,722.98. The Dow has gone on to barrel past 13,000 as Wall Street rallies on a mixture of corporate takeover news, respectable earnings and hopes for an interest rate cut.

After 24 record closes for the Dow this year, the S&P has finally caught up.

"This is new territory, but more importantly it serves as a reminder that the three broad indices are doing well. That should be the focus," said Arthur Hogan, chief market analyst at Jefferies & Co.

The Nasdaq, however, is unlikely to reclaim its record close of 5,048.62 anytime soon. The technology-dominated index was overinflated by investors eager to grab any high-tech stock.

The market is being driven in part by acquisitions, which have convinced investors there is an abundance of cash in the marketplace. The run-up in takeovers has been shepherded by a push from private equity firms; buyout shops have racked up more than $370 billion in global buyouts this year, and are on pace to beat last year's record of $730 billion, according to financial data provider Dealogic.

Although there has been strength in takeover activity, as well as signs of economic recovery in recent snapshots of U.S. manufacturing, many market watchers are nervous that the market has been driven by momentum trading rather than individuals putting money in stock-based mutual funds.

"People are buying the market because it's going up," said Brian Gendreau, investment strategist for ING Investment Management. "We'd like to see a stronger foundation for this market."

Bonds rose Monday. The yield on the benchmark 10-year Treasury note slipped to 4.79 percent from 4.81 percent late Friday. The dollar gained against other major currencies, and gold prices also rose.

Crude oil soared $1.33 to $66.27 a barrel on the New York Mercantile Exchange.

After two private equity firms said they were buying Alltel, the wireless company rose $4.39, or 6.7 percent, to $69.60.

General Electric rose 14 cents to $37.10 after agreeing to sell its plastics business.

In a day that was sluggish for many technology stocks, the standout was Amazon, the biggest gainer on the S&P 500 and the Nasdaq. A Citigroup analyst raised his price target after the Internet retailer said it would offer online music without copy protection technology. Amazon, which hit a seven-year high, closed at $68.30, up $5, or 7.9 percent.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange. Consolidated volume came to 3.48 billion shares, up from 2.92 billion Friday.

The S&P's milestone comes during a light week for economic data. The few notable reports are Thursday's durable goods and new homes sales reports from the Commerce Department, and Friday's existing home sales data from the National Association of Realtors.

Overseas, Japan's Nikkei stock average rose 0.90 percent. Britain's FTSE 100 slipped 0.06 percent, Germany's DAX index added 0.15 percent, and France's CAC-40 fell 0.18 percent.


----------



## bigdog

The NYSE DOW closed LOWER by 2.9 points on Tuesday May 22:

Symbol ----- Last --- Change 
Dow 13,539.95  -2.93 (0.02%) 
Nasdaq 2,588.02  +9.23 (0.36%) 
S&P 500 1,524.12  -0.98 (0.06%) 
10-Yr Bond 4.8310%   +0.0430 
NYSE Volume 2,860,495,000 
Nasdaq Volume 2,030,103,000

Overseas, Japan's Nikkei stock average closed up 0.70 percent. At the close, Britain's FTSE 100 was down 0.46 percent, Germany's DAX index rose 0.53 percent, and France's CAC-40 was essentially unchanged.

http://biz.yahoo.com/ap/070522/wall_street.html?.v=42

Stocks End Flat Amid Lack of Catalysts
Tuesday May 22, 5:35 pm ET 
By Joe Bel Bruno, AP Business Writer  
Stocks Finish Flat As Investors Await Catalysts to Push Stocks Higher 

NEW YORK (AP) -- Wall Street ended an erratic session little changed Tuesday as investors upbeat about the latest round of takeover activity remained hesitant to take the market higher ahead of new economic data.

While stocks moved sideways, Treasury yields rose to a three-month high.

Investors have viewed acquisitions as a sign corporate executives are comfortable with the economy. However, stocks failed to gain much momentum as several deals were announced Tuesday, including billionaire investor Kirk Kerkorian's plans to buy the Bellagio Hotel & Casino in Las Vegas from MGM Mirage Inc.

"There's no real drivers out there, and what we're waiting for is some more economic data," said Todd Salamone, director of trading at Schaeffer's Investment Research in Cincinnati. "We're right around the closing highs of 2000, so there is some hesitancy at those levels for the time being. It is a short term bump in the midst of an ongoing uptrend."

Further direction might come Thursday, when the Commerce Department reports on durable goods for April. The report could offer insight into the health of consumer spending, which accounts for two-thirds of U.S. economic activity.

With Tuesday bereft of major economic reports, Wall Street was watching talks between U.S. and Chinese government officials about trade and foreign exchange policy. Chinese stocks rose to a fresh record high for the second day in a row Tuesday, as investors there were encouraged by expectations for a stronger yuan and robust housing demand.

The Dow Jones industrials fell 2.93, or 0.02 percent, to 13,539.95.

Broader stock indexes were mixed. The Standard & Poor's 500 slipped 0.98, or 0.06 percent, to 1,524.12. The index, considered by market professionals as the best indicator of stock performance, passed its record close of 1,527.46 on Monday and again Tuesday for the first time since 2000. However, the S&P remains well below its trading high of 1,552.87, reached in March 2000.

The Nasdaq composite index, which has lagged the other major indexes in recovering from Wall Street's prolonged slump early in the decade, rose 9.23, or 0.36 percent, to 2,588.02.

The Russell 2000 index of smaller companies set a record close after rising 6.27, or 0.75 percent, to 839.92. The previous record was set May 9. The large-cap Russell 1000 index and broader Russell 3000 indexes also set record closes for the second straight day Tuesday.

Bonds slipped, with the yield on the benchmark 10-year Treasury note rising to 4.82 percent from 4.79 percent late Monday, in part because of a flood of corporate bonds in the market. The dollar was mixed against other major currencies, while gold prices fell.

Stock markets in other countries have also been gaining, particularly in China. The Shanghai Composite Index gained 0.9 percent to 4,110.38, breaking above 4,100 for the first time. The Shenzhen Composite Index climbed 1.4 percent to 1,198.41, also a record high.

The spike in the sometimes volatile Chinese stock markets coincided with high-level talks between the United States and China aimed at lessening economic tensions. Leaders began meeting on Monday for two days of talks to ease conflicts in bilateral trade and an undervalued yuan.

Though Chinese stocks are now at highs, it was a plunge in the Shanghai market in late February that provoked worries worldwide about the global economy and valuation of share prices. Investors remain nervous that global markets might have gotten ahead of themselves, and are poised for a pullback similar to what happened earlier this year.

Oil prices backed off their recent run, with a barrel of light sweet crude falling $1.30 to $64.97 on the New York Mercantile Exchange. Prices have been driven higher in part by ongoing concerns that U.S. refiners are not producing enough gasoline to meet peak summer demand.

In corporate news, MGM Mirage surged $17.03, or 27 percent, to $79.98. Kerkorian said he expects to pursue "financial restructuring transactions" for the casino. His investment vehicle, Tracinda Corp., owns a 56 percent stake in MGM Mirage.

Chevron Corp., the world's second-largest oil company, said it will sell its 12 percent stake in power producer Dynegy Inc. The move is part of Chevron's push to shed unnecessary operations, and sent its shares down 65 cents to $82.18. Dynegy fell 34 cents, or 3.3 percent, to $9.83.

Fremont General Corp. agreed to sell its commercial real estate lending business, and some of its loan portfolio, for $1.9 billion to iStar Financial Inc. The Santa Monica-based company has been dismantling its business because of troubles in the subprime mortgage sector. Fremont rose $2.89, or 41 percent, to $10.

Acquisitions have been a primary catalysts behind the stock market's advance, and this week alone totaled some $93.5 billion in announced global offers, according to financial data provider Dealogic. So far this year, about $2.3 trillion worth of takeovers have been announced -- putting the tally on pace to beat last year's record $4 trillion.

"The merger-and-acquisition activity is phenomenal. Every day you get something. Until that disappears, it's going to be hard for the market to go lower," said Matt Kelmon, portfolio manager of the Kelmoore Strategy Funds.

Wall Street also didn't get the kind of positive earnings reports it has used in the past to justify a move into stocks. On Tuesday, office supplies retailer Staples Inc. reported light first quarter sales, and nudged its profit forecast lower. Shares fell 62 cents, or 2.4 percent, to $25.05.

Advancing issues outpaced decliners by a 9 to 7 margin on the New York Stock Exchange, where consolidated volume came to 2.82 billion shares.

Overseas, Japan's Nikkei stock average closed up 0.70 percent. At the close, Britain's FTSE 100 was down 0.46 percent, Germany's DAX index rose 0.53 percent, and France's CAC-40 was essentially unchanged.


----------



## bigdog

The NYSE DOW closed LOWER by 14 points on Wednesday May 23:

Symbol ----- Last --- Change 
Dow 13,525.65  -14.30 (0.11%) 
Nasdaq 2,577.05  -10.97 (0.42%) 
S&P 500 1,522.28  -1.84 (0.12%) 
10-Yr Bond 4.8590%   +0.0280 
NYSE Volume 3,099,858,000 
Nasdaq Volume 2,126,677,000 

Japan's Nikkei stock average rose 0.14 percent. Britain's FTSE 100 rose 0.15 percent, Germany's DAX index added 1.00 percent, and France's CAC-40 advanced 0.50 percent.

http://biz.yahoo.com/ap/070523/wall_street.html?.v=46
Stocks Fall After Greenspan Comments
Wednesday May 23, 6:22 pm ET 
By Madlen Read, AP Business Writer  
Stocks End Lower After Greenspan Remarks Spur Investors to Cash in Gains 

NEW YORK (AP) -- Stocks wilted Wednesday as comments from former Federal Reserve Chairman Alan Greenspan and worries about upcoming economic data deflated a rally fed by takeover activity.

Stocks initially rose, lifting the Dow Jones industrials briefly above 13,600 for the first time, after the market got a fresh load of deal-related news that included a possible bidding battle over aluminum producer Alcan Inc. But the excitement waned after a media report that Greenspan expressed concern that China's stock market -- which has recently been hitting record highs -- could eventually see a sharp decline.

Wall Street's mood also dampened when energy prices failed to ease despite a rebound in U.S. crude and gasoline inventories last week. And with key reports on durable goods and new home sales due for release Thursday and the long Memorial Day weekend looming, investors adopted a defensive stance.

Strong merger and acquisition activity has for weeks been the primary force lifting the Dow, which crossed over the 13,000 milestone less than a month ago. So after some cautionary comments from Greenspan, analysts were not surprised to see investors take a breather.

"He still carries a lot of clout," said Steven DeSanctis, small cap strategist with Prudential Equity Group, noting that U.S. investors are also very focused on the Chinese economy. "You get a data point like that and people start to take profits, get a little nervous."

The Dow fell 14.30, or 0.11 percent, to 13,525.65, after climbing to an intraday trading record of 13,609.76.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 1.84, or 0.12 percent, to 1,522.28, still unable to finish above its record close of 1,527.46 set in March 2000.

The Nasdaq composite index slipped 10.97, or 0.42 percent, to 2,577.05, after briefly trading above the 2,600 mark for the first time in more than six years.

Bonds fell, with the yield on the benchmark 10-year Treasury note rising to 4.85 percent from 4.83 percent late Tuesday.

Giving stocks an early lift was news that Alcoa Inc.'s $27.6 billion hostile bid for rival Alcan was rebuffed, and a Canadian media report that Australian mining giant BHP Billiton Ltd. might make its own offer.

Alcoa rose $1.42, or 3.7 percent, to $40.37; Alcan rose $4.86, or 6 percent, to $85.89; and BHP Billiton rose $1.01, or 2 percent, to $51.76.

The report followed announcements late Tuesday that Morgan Stanley Real Estate will acquire real estate investment trust Crescent Real Estate Equities Co. for $2.34 billion, and that Payless ShoeSource Inc. will buy competing shoe store chain Stride Rite for about $800 million.

Stride Rite soared $4.76, or 31 percent, to $20.21. Payless rose $3.24, or 10.2 percent, to $35.14.

Adding to the takeover flurry, the Bancroft family, which controls Dow Jones & Co., planned to meet privately to discuss a $5 billion bid by Rupert Murdoch's News Corp., according to The Wall Street Journal, which is owned by Dow Jones. Dow Jones rose $1.28, or 2.5 percent, to $52.74.

The stock market has been surging on recent deals, as they signal there is ample cash in the marketplace and that corporate executive are confident about the economy. About $2.3 trillion worth of deals have been announced so far this year, according to financial data provider Dealogic, and the tally is on track to beat last year's record $4 trillion.

Though most market participants are optimistic about the stock market in the long-term, many are bracing for a short-term dip once the takeover euphoria wears off.

"The market's been held up by all of this M&A activity, not by fundamentals," said Ed Peters, chief investment officer at PanAgora Asset Management Inc.

Corporate profits have been slowing, but remain fairly strong. A new batch of strong earnings Wednesday, particularly from retailers, reassured investors.

Target, the second-largest U.S. discount chain, rose 56 cents to $58.60 after reporting its first-quarter profit beat estimates due to strong sales of spring merchandise.

But many investors worry that high energy prices could eat into discretionary spending. Crude futures rose 26 cents to $65.77 a barrel on the New York Mercantile Exchange, after a 1.5 million barrel gain in gasoline stockpiles last week did not convince traders that supplies will be sufficient ahead of the summer driving season.

The dollar declined, and gold rose.

The Russell 2000 index of smaller companies fell 3.38, or 0.40 percent, to 836.54.

Declining issues outnumbered advancers by about 10 to 7 on the New York Stock Exchange, where consolidated volume came to 3.02 billion shares, up from 2.82 billion Tuesday.

Chinese stocks swelled to a record for the third straight session Wednesday on optimism over reports the government may triple quotas for foreign investment in local bourses. The benchmark Shanghai Composite Index gained 1.5 percent to 4,173.71. The Shenzhen Composite Index rose 2.1 percent to 1,223.98, also a record close.

Japan's Nikkei stock average rose 0.14 percent. Britain's FTSE 100 rose 0.15 percent, Germany's DAX index added 1.00 percent, and France's CAC-40 advanced 0.50 percent.


----------



## bigdog

Not looking forward to today!!

The NYSE DOW closed LOWER by 84 points on Thursday May 24:

Symbol ----- Last --- Change 
Dow 13,441.13  -84.52 (0.62%) 
Nasdaq 2,537.92  -39.13 (1.52%) 
S&P 500 1,507.51  -14.77 (0.97%) 
10-Yr Bond 4.8570%   -0.0020 
NYSE Volume 3,435,763,000 
Nasdaq Volume 2,431,092,000 

Elsewhere overseas, Japan's Nikkei stock average fell 0.05 percent. Britain's FTSE 100 fell 0.77 percent, Germany's DAX index fell 0.50 percent and France's CAC-40 fell 1.17 percent.


http://biz.yahoo.com/ap/070524/wall_street.html?.v=59

AP
Stocks Fall Following Economic Data
Thursday May 24, 6:19 pm ET 
By Joe Bel Bruno, AP Business Writer  
Wall Street Slides As Investors Worry Interest Rate Cut Not Needed After Economic Data 

NEW YORK (AP) -- Wall Street retreated Thursday after housing data showed sales surged in April by the largest amount in 14 years and damped hopes that an interest rate cut would be needed to stimulate the economy.

Investors were originally enthusiastic after the Commerce Department reported sales of single-family homes rose 16.2 percent last month after falling slightly in March. Even though the report indicated that the economy continues to expand, investors became unnerved by a record drop in home prices.

With first-quarter corporate earnings reports mostly complete, Wall Street is again placing increased significance on economic data. Reports Thursday suggested the Federal Reserve might be successfully steering the economy toward a soft landing and that a rate cut might not be needed.

"Sometimes good is bad," said Scott Fullman, director of investment strategy for Israel A. Englander & Co. "This takes away the anticipation that the Fed is going to ease interest rates because of the housing market."

He also said that after a months-long run, and before a three-day holiday weekend, that investors were taking a breather to collect profits.

The Dow Jones industrial average fell 84.52, or 0.62 percent, to 13,441.13. The shift in the direction of the Dow and the other major indexes Thursday was pronounced. The Dow rose nearly 100 points to 13,624.55 early in the session -- eclipsing its previous trading high of 13,609.75 reached Wednesday -- before pulling back.

Broader stock indicators fell. The Standard & Poor's 500 index fell 14.77, or 0.97 percent, to 1,507.51, and the Nasdaq composite index fell 39.13, or 1.52 percent, to 2,537.92.

Bond prices rose modestly after falling sharply early in the session with the release of the housing data. The yield on the benchmark 10-year Treasury note fell to 4.84 percent from 4.85 percent late Wednesday.

Oil prices backed off a nine-month peak reached on Wednesday as traders weighed a rebound in U.S. crude inventories last week. A barrel of light, sweet crude fell $1.32 to $64.18 on the New York Mercantile Exchange.

The dollar was higher against most other major currencies, while gold prices declined.

The moves in stocks followed fresh economic data. The housing report came after data released by the department earlier Thursday that showed sales of big-ticket manufactured goods posted a modest increase in April, perhaps signaling a continued rebound in business spending. The durable goods report suggested U.S. companies are in the midst of growing, and aren't afraid to spend money to do so.

In addition to new home sales and durable goods, Wall Street received a weekly Labor Department report showing the number of newly laid off workers filing for unemployment benefits rose slightly last week -- but was still at a level reflective of a healthy labor market.

The economic reports failed to give Wall Street a sustained push. All three major indexes have been under pressure this week, especially on Wednesday when former Federal Reserve Chairman Alan Greenspan said he expects a contraction in China's markets.

His comments caused stocks to reverse gains and close lower Wednesday. They also caused declines in Asian markets -- particularly in China, which reached record levels this week.

On Thursday, China's two biggest stock indexes closed lower as the market regulator issued another warning about market risks, with auto and power stocks losing ground. The benchmark Shanghai Composite Index closed down 22.58 points at 4,151.13; the Shenzhen index fell 32.80 points to 711.17.

Elsewhere overseas, Japan's Nikkei stock average fell 0.05 percent. Britain's FTSE 100 fell 0.77 percent, Germany's DAX index fell 0.50 percent and France's CAC-40 fell 1.17 percent.

In corporate news, housing stocks were among the market's best performers as the Commerce Department data showed sales ramped up last month, albeit as prices fell. Even Toll Brothers Inc. -- which reported second-quarter profit fell sharply -- rose 30 cents to $30.07.

Takeover activity also was a factor. Bausch & Lomb Inc. rose $3.76, or 5.7 percent, to $70.21 after Advanced Medical Optics Inc. confirmed it launched a takeover bid. Bausch & Lomb set a 52-week high of $70.85, surpassing a previous high of $67.71. Last week, Bausch & Lomb agreed to be acquired by private equity group Warburg Pincus for about $3.67 billion.

Advanced Medical shares tumbled $1.34, or 3.2 percent, to $41.10.

Network Appliance Inc. fell $6.30, or 16.6 percent, to $31.76 after the storage technology company reported a slowdown in March will yield weaker-than-expected second-quarter results.

Mylan Laboratories Inc. fell 41 cents, or 2 percent, to $19.83 after costs tied to its takeover of Matrix Laboratories Ltd. hurt fourth-quarter results.

Declining issues outnumbered advancers by about 4-to-1 on the New York Stock Exchange, where consolidated volume came to 3.32 billion shares compared with 3.02 billion shares traded Wednesday.

The Russell 2000 index of smaller companies fell 12.74, or 1.52 percent, to 823.80.


----------



## Edwood

mind you Bigdog ASX was down 1.1% yesterday, Dow only down 0.6% & S&P 1%, so might not be too bad today.

5,600 looks possible tho imo, if it gets going


----------



## bigdog

The NYSE DOW closed HIGHER by 66 points on Friday May 25:

NYSE is closed on Monday May 28 for holiday.

Symbol ----- Last --- Change 
Dow 13,507.28  +66.15 (0.49%) 
Nasdaq 2,557.19  +19.27 (0.76%) 
S&P 500 1,515.73  +8.22 (0.55%) 
10-Yr Bond 4.8610%   +0.0040 
NYSE Volume 2,316,622,000 
Nasdaq Volume 1,569,365,000 

Overseas, Japan's Nikkei stock average fell 1.22 percent. Sometimes-volatile Chinese stocks set fresh closing records Friday. The benchmark Shanghai Composite Index rose 0.7 percent, while the Shenzhen Composite Index climbed 1.6 percent.

http://biz.yahoo.com/ap/070525/wall_street.html?.v=43
Stocks Rise Ahead of Holiday Weekend
Friday May 25, 6:14 pm ET 
By Tim Paradis, AP Business Writer  
Wall Street Rises Amid Continued Takeover Activity, Ahead of Holiday Weekend 


NEW YORK (AP) -- Wall Street rose smartly in a quiet session Friday as investors adjusted positions ahead of a long holiday weekend and tried to determine whether a lackluster week presaged a departure from the market's months-long run-up or merely a temporary pause.

Stocks advanced after a pullback Thursday and as investors drew some optimism from the Nasdaq Stock Market Inc.'s deal to acquire Sweden's OMX AB. But investors showed little reaction to the National Association of Realtors' report that sales of existing homes fell 2.6 percent in April to 5.99 million units, the slowest sales rate in almost four years.

Friday's gains followed four mostly negative sessions for the major stock market indexes. Given Wall Street's robust performance in recent months, a pullback in which investors consolidate gains wasn't unexpected. However, the week began with a flourish that could have been seen as suggesting further gains: The Standard & Poor's 500 index traded above its record close for the first time in more than seven years.

But concerns over the continued strength of the market's run and comments from former Federal Reserve Chairman Alan Greenspan about the possibility of a sharp pullback in Chinese stocks left some investors unnerved.

"It's just a very, very wacky market," said Ted Aronson, a partner at Aronson Johnson Ortiz, referring to the overall mood on Wall Street. He contends the implications of a still-settling housing market are difficult to quantify and give him pause though he is still mostly bullish.

The Dow Jones industrial average rose 66.15, or 0.49 percent, to 13,507.28. The Dow had fallen in the previous four sessions.

Broader stock indicators also rose. The Standard & Poor's 500 index advanced 8.22, or 0.55 percent, to 1,515.73, and the Nasdaq composite index rose 19.27, or 0.76 percent, to 2,557.19.

For the week, the Dow industrials lost 0.36 percent, the S&P 500 gave up 0.46 percent and the Nasdaq slipped 0.05 percent.

Bonds fell Friday following the housing data and as stocks regained lost ground. The yield on the benchmark 10-year Treasury note rose to 4.86 percent from 4.84 percent late Thursday. The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude rose $1.02 to $65.20 per barrel on the New York Mercantile Exchange.

Stocks rose Friday in part after Nasdaq announced its $3.67 billion deal. The move gives the stock market entrance to Europe through OMX, which operates exchanges in seven Nordic countries. It will become the world's second trans-Atlantic exchange after the New York Stock Exchange bought Paris-based Euronext earlier this year.

Buyouts have given a boost to stocks for much of the year. This week alone saw about $32.3 billion in deals, according to TrimTabs. The market research group estimates the roughly $270 billion in corporate buyouts announced so far in the second quarter are on pace to handily top the record $302.5 billion registered in the first quarter.

Friday's gains came after Wall Street retreated Thursday following housing data that showed sales of single-family homes surged in April by the largest amount in 14 years but as prices fell sharply. While a resilient housing market would likely be good for the economy, it could also reduce the likelihood the Federal Reserve would reduce interest rates.

"I think the housing market has been on the top of everybody's list of concerns and now when you see some positives a lot of investors are taking a step back and saying maybe things aren't as bad. There is uncertainty about interest rates," said Steve Schoepke, vice president of research and product development at AIG SunAmerica Asset Management.

In corporate news, Nasdaq's stock fell $1.14, or 3.4 percent, to $32.84 after announcing its OMX bid.

Retailer Gap Inc. fell 11 cents to $18.18 after reporting its first-quarter profit fell 26 percent.

Coca-Cola Co., one of the 30 stocks that makes up the Dow industrials, rose 65 cents to $51.89 after the beverage maker said it would acquire Vitaminwater maker glaceau for $4.1 billion in a bid to expand its line of non-carbonated beverages.

SourceForge Inc., formerly VA Software Corp., said its third-quarter profit rose as a result of the sale of its enterprise software business. The stock jumped 59 cents, or 15.8 percent, to $4.32.

Verigy Ltd. jumped $5, or 20.3 percent, to $29.63 after the Singapore maker of chip-testing equipment forecast stronger-than-expected sales.

RF Micro Devices Inc., which makes radio frequency components used in mobile devices, advanced 34 cents, or 5.5 percent, to $6.50 after an analyst raised his rating on the stock, contending demand for the company's products will improve in the second half of the year.

Advancing issues outnumbered decliners by more than 2 to 1 on the New York Stock Exchange, where consolidated volume came to 2.24 billion shares, compared with 3.32 billion shares traded Thursday.

The Russell 2000 index of smaller companies rose 6.13, or 0.74 percent, to 829.93.

Overseas, Japan's Nikkei stock average fell 1.22 percent. Sometimes-volatile Chinese stocks set fresh closing records Friday. The benchmark Shanghai Composite Index rose 0.7 percent, while the Shenzhen Composite Index climbed 1.6 percent.

Britain's FTSE 100 finished up 0.08 percent, Germany's DAX index rose 0.54 percent, and France's CAC-40 rose 0.15 percent.

The Dow Jones industrial average ended the week down 49.25, or 0.36 percent, at 13,507.28. The Standard & Poor's 500 index finished down 7.02, or 0.46 percent, at 1,515.73. The Nasdaq composite index ended down 1.26, or 0.05 percent, at 2,557.19

The Russell 2000 index finished the week down 6.27, or 0.76 percent, at 829.93.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 15,269.21, down 35.78 points for the week. A year ago, the index was at 12,855.02.


----------



## bigdog

NYSE was closed on Monday May 28 for the Memorial Day holiday.


----------



## bigdog

The NYSE DOW closed HIGHER by 14 points on Tuesday May 29:

Symbol ----- Last --- Change 
Dow 13,521.34  +14.06 (0.10%) 
Nasdaq 2,572.06  +14.87 (0.58%) 
S&P 500 1,518.11  +2.38 (0.16%) 
10-Yr Bond 4.8820%   +0.0210 
NYSE Volume 2,612,346,000 
Nasdaq Volume 1,732,581,000

Overseas, Japan's Nikkei stock average rose 0.48 percent. Britain's FTSE 100 was up 0.55 percent, Germany's DAX index was up 0.54 percent, and France's CAC-40 was down 0.25 percent.

http://biz.yahoo.com/ap/070529/wall_street.html?.v=42
Stocks Up Slightly Ahead of Fed Minutes
Tuesday May 29, 6:14 pm ET 
By Madlen Read, AP Business Writer  
Stocks Eke Out a Modest Gain Amid Series of New Takeover Deals, Strong Consumer Confidence 


NEW YORK (AP) -- Wall Street eked out a modest gain Tuesday as investors, wary about the upcoming release of the Federal Reserve minutes, bought cautiously amid a series of new takeover deals and upbeat consumer confidence figures. 

Stocks drew support from news that a consortium of banks led by Royal Bank of Scotland PLC said it will bid 71.1 billion euros, or $95.5 billion, for the Netherlands' ABN Amro, besting an offer from Barclays PLC. Other takeover news included an announcement that Tishman Speyer Properties and Lehman Brothers Holdings Inc. are buying Archstone-Smith Trust for at least $13.5 billion.

But trading was erratic with the minutes from the Federal Reserve's last meeting scheduled to be released Wednesday. The minutes could provide some insight into future interest rate moves; many investors are hoping for a rate cut later this year. Wall Street also digested strong consumer confidence data, and a report on housing prices.

"It's a bit of a wishy-washy day ... people are starting to get their sea legs back after a long weekend," said Joe Ranieri, managing director in equity trading at Canaccord Adams.

The Dow Jones industrial average rose 14.06, or 0.10 percent, to 13,521.34.

The Standard & Poor's 500 index rose 2.38, or 0.16 percent, to 1,518.11, while the Nasdaq composite index gained 14.87, or 0.58 percent, to 2,572.06.

Bonds fell after the consumer confidence data, with the yield on the benchmark 10-year Treasury note rising to 4.89 percent from 4.86 percent late Friday. Yields have remained higher in recent sessions as fixed-income investors bet the Fed won't lower rates in the near future.

Most on Wall Street hope the economy is growing fast enough to stoke companies' U.S.-based businesses, but not so quickly that it would prevent the Fed from lowering rates later in the year. On Tuesday, the consumer appeared strong; the Conference Board said its Consumer Confidence Index rose to 108.0 in May, up from a revised 106.3 in April and above the average analyst estimate. Also, the Dallas and Chicago Federal Reserves both reported expansions in regional manufacturing activity.

But the housing sector looked weak after the Standard & Poor's housing index indicated that U.S. home prices declined 1.4 percent in the first quarter compared to a year ago, the first time since 1991 that prices posted a quarterly drop.

"The rise in consumer confidence during the month is really quite impressive in the face of the record highs in gasoline prices," said Georges Yared, chief investment strategist for Yared Investment Research.

U.S. retail gasoline prices have eased slightly from their record high of $3.227 a gallon, on average, but remained high Tuesday at $3.201, according to AAA. Crude oil futures plunged $2.05 to $63.15 a barrel on the New York Mercantile Exchange.

In response, Exxon Mobil Corp., one of the 30 Dow components, fell 89 cents to $82.62.

After it was reported that Archstone was being bought, the stock rose $6.19, or 11 percent, to $61.42.

Engineering and construction company URS Corp. said it will buy competitor Washington Group International for $2.6 billion. Washington Group rose $15.07, or 21.5 percent, to $85.04, and URS rose $2.38, or 5.1 percent, to $49.27.

The technology sector, which has been weaker than the rest of the stock market in recent months, got a boost Tuesday after Vodafone Group PLC said it narrowed its full-year loss. U.S. shares of the world's biggest mobile phone company rose $1.14, or 3.7 percent, to $31.70.

Advancing issues outnumbered decliners by almost 2 to 1 on the New York Stock Exchange, where consolidated volume came to 2.56 billion shares, up from 2.24 billion on Friday.

The Russell 2000 index of smaller companies was up 7.60, or 0.92 percent, at 837.53.

The dollar slipped against other major currencies, and gold prices climbed.

Overseas, Japan's Nikkei stock average rose 0.48 percent. Britain's FTSE 100 was up 0.55 percent, Germany's DAX index was up 0.54 percent, and France's CAC-40 was down 0.25 percent.


----------



## bigdog

The NYSE DOW closed HIGHER by 111.7 points on Wednesday May 30:

Symbol ----- Last --- Change 
Dow 13,633.08  +111.74 (0.83%) 
Nasdaq 2,592.59  +20.53 (0.80%) 
S&P 500 1,530.23  +12.12 (0.80%) 
10-Yr Bond 4.8780%   -0.0040 
NYSE Volume 2,989,246,000 
Nasdaq Volume 2,079,405,000 

http://www.wabusinessnews.com.au/en...hill-sends-shivers-through-Australian-stocks-
Chinese chill sends shivers through Australian stocks 
30-May-07 by AAP

Nervous investors wiped off $23 billion from Australian stocks today after the market plunged by just over one per cent on concerns about a sharp fall on the Shanghai exchange.

The benchmark S&P/ASX200 index closed 74.2 points down, or 1.17 per cent lower, to 6243.4 while the all ordinaries index lost 67.1 points to 6271.7.

On the Sydney Futures Exchange, the June share price index contract fell back 62 points to 6263, on a volume of 27,084 contracts.

Today's 6.8 per cent decline on China's Shanghai Composite Index was reminiscent of February's sharp fall which sent shockwaves around the world and pushed the Australian market down 2.7 per cent at the time, its biggest one-day fall in more than five years.

China's benchmark stock index tumbled after the Chinese government raised the stock trading tax in its strongest effort yet to cool a speculative bull run.

http://biz.yahoo.com/ap/070530/wall_street.html?.v=59
S&P Closes at Record High
Wednesday May 30, 6:53 pm ET 
By Joe Bel Bruno, AP Business Writer  
Wall Street Advances As Fed Minutes Fail to Surprise; S&P 500 Index Closes at Record High 

NEW YORK (AP) -- Wall Street shot higher Wednesday, sending the Standard & Poor's 500 index to its first record close in more than seven years, as investors grew more confident that the Federal Reserve might cut interest rates in the second half of 2007. The Dow Jones industrials also reached a new high close.

The S&P 500, considered by traders as the best barometer of U.S. stocks, surpassed the record of 1,527.46, set March 24, 2000, at the peak of the dot-com boom, closing at 1,530.23, up 12.12, or 0.80 percent.

The index of 500 of the nation's biggest companies was powered by investors' relief over the minutes from the Fed's May 9 meeting of its Open Market Committee. The central bankers called inflation "uncomfortably high," a stance that made it less likely that the Fed would act to cut interest rates.

However, analysts said the Fed indicated in the minutes that the drag on the economy from the housing slump may be more severe than first thought -- and that raised the possibility that the Fed hasn't ruled out lowering rates. The Fed has left rates unchanged at 5.25 percent for seven straight meetings.

"Wall Street took the minutes to mean that later on this year there will be more of a chance for a rate cut, and people rallied on that," said Ryan Larson, senior equity trader at Voyageur Asset Management. "It put a cut back on the table, and that's what led to these record index closes."

Many economists believe the Fed will keep rates unchanged for the rest of this year, although some say they're still looking for one or possibly two rate cuts at the end of 2007 if inflation pressures have moderated by then and the unemployment rate is rising.

The S&P 500, which crossed its closing record on May 21 and then retreated, remains below its all-time trading high of 1,552.87, also reached in March 2000.

The Dow, the first of the major market indexes to recover from Wall Street's prolonged slump in the early part of the decade, closed at 13,633.08, up 111.74, or 0.83 percent, and also reached a new trading high of 13,636.09.

The recovery of the S&P 500 comes as the index now has fewer technology stocks than in 2000. Financial services companies, which now make up the largest slice of the index, have helped drive the market's run since the second half of last year.

By comparison, the Nasdaq isn't expected to reach its closing high of 5,048.62, set March 24, 2000, anytime soon. The tech-dominated index -- which closed up 20.53, or 0.80 percent, at 2,592.59 -- was arguably overinflated by the rush to join the Internet boom.

The record close for the S&P and Dow came after the markets had opened sharply lower following a pullback in the often volatile Chinese stock markets. But, investors remained resilient and pushed stocks higher after determining China's problems were likely contained and found little reason for pessimism from the Fed's comments.

The S&P's advance is of greater significance to many investors than the 47 record closes the Dow has achieved since the beginning of October. There are more investments, like mutual funds, that track the S&P 500; these funds are an integral part of many retirement plans.

The Russell 2000 index of smaller companies also closed at an all-time high, up 5.82, or 0.69 percent, to 843.35. The large-cap Russell 1000 and the broader Russell 3000 also hit record closes.

Advancing issues outnumbered decliners by about 2-to-1 on the New York Stock Exchange, where consolidated volume came to 2.87 billion shares, compared with 2.56 billion on Tuesday.

Bonds erased most of the gains posted earlier in the session after the release of the FOMC meeting minutes. The yield on the benchmark 10-year Treasury was unchanged at 4.88 percent. Fixed-income investors had previously driven down bond yields in anticipation of a possible cut.

The dollar was mixed against other major currencies, while gold prices fell. Crude oil rose 34 cents to $63.49 per barrel on the New York Mercantile Exchange.

Stocks spent most of the morning session in negative territory after the plunge in China's markets stunted U.S. investors. But, Wall Street's rebound showed investor confidence that the latest drop in China's markets would not trigger a global sell off as it did in February.

Beijing tripled a tax on stock trading to cool the country's market boom, causing the main Shanghai Composite Index dropped 6.5 percent and the Shenzhen Composite Index for China's smaller second market slid 7.2 percent.

Japan's Nikkei stock average fell 0.48 percent; Britain's FTSE 100 fell 0.41 percent; Germany's DAX index dropped 0.61 percent, and France's CAC-40 declined 0.52 percent.

Investors had been jittery since comments last week from former Federal Reserve Chairman Alan Greenspan, who said the Chinese markets could experience a significant pullback.

In corporate news, Pulte Homes Inc. said late Tuesday it will slash about 16 percent of its work force, or about 1,900 jobs, to save the homebuilder an estimated $200 million a year before taxes. Shares of the company fell 2 cents to $27.43.

Bookseller Borders Group Inc. fell $1.10, or 4.7 percent, to $22.22 after it reported late Tuesday a wider loss in the first quarter than in the year-ago period, citing a difficult sales climate.


----------



## bigdog

The NYSE DOW closed LOWER by 5 points on Thursday May 31:

Symbol ----- Last --- Change
Dow 13,627.64  -5.44 (0.04%) 
Nasdaq 2,604.52  +11.93 (0.46%) 
S&P 500 1,530.62  +0.39 (0.03%) 
10-Yr Bond 4.8900%   +0.0120 
NYSE Volume 3,335,533,000 
Nasdaq Volume 2,472,484,000

Chinese stocks rebounded Thursday after a sharp drop a day earlier. The Shanghai Composite Index rose 1.4 percent.

Japan's Nikkei stock average rose 1.63 percent. Britain's FTSE 100 rose 0.29 percent, Germany's DAX index rose 1.52 percent, and France's CAC-40 rose 1.02 percent.


http://biz.yahoo.com/ap/070531/wall_street.html?.v=44
Stocks Trade Flat After Weak GDP Reading
Thursday May 31, 5:45 pm ET 
By Madlen Read, AP Business Writer  
Stocks Finish Flat After More Takeover Deals, Feeble GDP Growth; Nasdaq Gains 

NEW YORK (AP) -- Stocks finished largely flat Thursday after a weak reading of the nation's gross domestic product muted Wall Street's enthusiasm over a new spate of acquisitions. Technology stocks fared better than most, however.

The Commerce Department's latest estimate of first-quarter GDP was 0.6 percent, lower than the average economist estimate of 0.8 percent and the 1.3 percent the government projected in April.

The fact that first-quarter growth has been the most sluggish since the last quarter of 2002, but that the Dow Jones industrial average has nonetheless surged more than 9 percent this year, made some investors pause.

"There's friction between those two numbers. That's why investors are a little bit worried, and why we're not hitting home runs every day," said Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors.

Still, most on Wall Street expect growth to pick up later in the year, and remain optimistic about the stock market thanks to the unrelenting wave of takeovers, which are on track to beat last year's record tab of $4 trillion.

On Thursday, banking company Wachovia Corp. said it would acquire A.G. Edwards Inc. for $6.8 billion in cash and stock to form the second-largest retail stock brokerage in the country. And payroll processor Ceridian Corp. said late Wednesday it will be bought out by investment firm Thomas H. Lee Partners LP and insurance provider Fidelity National Financial Inc. for about $5.3 billion.

The Dow Jones industrial average slipped 5.44, or 0.04 percent, to 13,627.64, after reaching a new trading high of 13,673.07. On Wednesday, the Dow rose more than 111 points and set a new closing high of 13,633.08.

Broader stock indicators managed gains.

The Standard & Poor's 500 index advanced 0.39, or 0.03 percent, to 1,530.62, after soaring to a record close Wednesday for the first time since March 2000.

The technology-dominated Nasdaq composite index showed more pronounced movement, rising 11.93, or 0.46 percent, to 2,604.52. Gains in companies like Apple Inc. helped lift the Nasdaq. Apple rose $2.42, or 2 percent, to $121.19, after the company announced developments about its online products that pleased investors.

May proved a strong month for the major indexes. The Dow industrials rose 4.3 percent, giving the blue chips a year-to-date gain of 9.3 percent. The S&P 500 gained 3.3 percent in May and is up 7.9 percent for the year. The Nasdaq added 3.2 percent, putting its year-to-date gain at 7.8 percent.

Though GDP growth was slower than anticipated, jobs and the manufacturing sector looked strong. The Labor Department reported Thursday that the number of U.S. workers filing jobless claims dropped last week for the sixth time in seven weeks, and the Chicago Purchasing Managers said its manufacturing index rose to 61.7, higher than expected and up sharply from the April reading of 52.9. The purchasing managers index is seen as a precursor to the national report from the Institute for Supply Management, scheduled for release Friday.

Also, the Commerce Department said construction edged up by 0.1 percent in April, down from a 0.6 percent gain in March but better than economists predicted.

"Overall, the economic news was rather benign. What people are responding to are the market's own internal dynamics -- gravity," said Alfred E. Goldman, chief market strategist at A.G. Edwards in St. Louis. "We have good and bad in the fundamentals; basically we just have a market that's tired."

Bonds fell on the strong manufacturing data. The yield on the benchmark 10-year Treasury note rose to 4.89 percent from 4.87 percent late Wednesday.

After Wachovia said it will buy A.G. Edwards, Wachovia slipped 36 cents to $54.19, and A.G. Edwards rose $11.01, or 14.3 percent, to $88.16.

In other corporate news Thursday, discount retailer Costco Wholesale Corp. and jewelry seller Tiffany & Co. released their financial results. Costco posted a fiscal third-quarter profit decline of 4.9 percent, while Tiffany reported a 15 percent rise in fiscal first-quarter profit -- indicating that consumer demand for big-ticket items remains robust.

Costco slipped 6 cents to $56.47, and Tiffany rose 11 cents to $52.57.

Sears Holdings Corp. reported a solid 20 percent gain in earnings from the recent quarter, but said its U.S. store sales dropped. Sears fell $3.23 to $180.02.

And Payless ShoeSource Inc., which recently said it was buying shoe seller Stride Rite, hit an all-time high after it reported a rise in fiscal first-quarter profit and better sales than analysts expected. Payless rose $1.01, or 2.9 percent, to $35.72.

The dollar was mixed against other major currencies, while gold prices rose.

Crude oil futures rose 52 cents to $64.01 a barrel on the New York Mercantile Exchange, after the U.S. government reported a surprise decrease in crude stockpiles but an increase in gasoline inventories. Retail gasoline prices are still high, but have come off of record levels; the average U.S. pump price was $3.191 a gallon Thursday, according to AAA, down from a record $3.227 a gallon reached last week.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where consolidated volume on the final day of the month came to a heavy 3.27 billion shares compared with 2.86 billion Monday.

The Russell 2000 index of smaller companies rose 3.83, or 0.45 percent, to 847.18, reaching its second-straight record close.

Chinese stocks rebounded Thursday after a sharp drop a day earlier. The Shanghai Composite Index rose 1.4 percent.

Japan's Nikkei stock average rose 1.63 percent. Britain's FTSE 100 rose 0.29 percent, Germany's DAX index rose 1.52 percent, and France's CAC-40 rose 1.02 percent.


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## bigdog

The NYSE DOW closed HIGHER by 40 points on Friday June 1:

Symbol ----- Last --- Change
Dow 13,668.11  +40.47 (0.30%) 
Nasdaq 2,613.92  +9.40 (0.36%) 
S&P 500 1,536.34  +5.72 (0.37%) 
10-Yr Bond 4.96%   +0.07 
NYSE Volume 2,927,018,000 
Nasdaq Volume 1,930,346,000 

Overseas, the often-volatile benchmark Shanghai Composite Index fell 2.7 percent. Japan's Nikkei stock average rose 0.47 percent. Britain's FTSE 100 rose 0.84 percent, Germany's DAX index rose 1.33 percent, and France's CAC-40 rose 1.05 percent.

http://biz.yahoo.com/ap/070601/wall_street.html?.v=55
Dow, S&P 500 Hit Record Highs on Data
Friday June 1, 6:43 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Finish Higher After Manufacturing, Jobs Data; Dow, S&P Set Records 


NEW YORK (AP) -- Wall Street carved out a solid advance Friday after data on job creation, manufacturing and inflation injected the market with renewed confidence about the economy and sent major indexes to record closes.

The Standard & Poor's 500 index was the biggest gainer among the major indicators and moved toward its all-time trading high.

Investors found reason for optimism in a stronger-than-expected jobs report for May. Nonfarm payrolls rose by 157,000 last month, a larger increase than in April and more than analysts anticipated. The unemployment rate held steady at 4.5 percent, as forecast, according to the Labor Department report.

The economic picture appeared brighter still following a lower reading on inflation from the Commerce Department and data from the Institute for Supply Management's May survey, which indicated that the manufacturing sector was strengthening.

Investors have been trying to glean from recent economic data any clues about the state of the economy and the direction of interest rates. The market hopes a slowing economy will prompt the Federal Reserve to lower rates, something the Fed is loath to do if inflation remains defiantly above the central bank's target. The job figures Friday pleased Wall Street, however, because they showed growth without an attendant rise in wage inflation.

"If you can get job growth without wage inflation, that's about as positive as you can get," said Randy Frederick, director of derivatives at Charles Schwab & Co.

The Dow Jones industrial average rose 40.47, or 0.30 percent, to 13,668.11, the Dow's 26th record close for the year. The Dow, which tacked on 1.19 percent for the week, also set a fresh trading high of 13,692.00 Friday.

Broader stock indicators also gained Friday to end a week that saw stocks advance amid a bevy of favorable economic figures and the continued hum of corporate takeover activity. The Standard & Poor's 500 index rose 5.72, or 0.37 percent, to 1,536.34. The S&P traded as high as 1,540.56 and advanced toward its record trading high of 1,552.87 set in March 2000. Wall Street marked a milestone this week when the index set its first record close since 2000, signaling the broader market's recovery from the dot-com implosion early in the decade.

The S&P's gains, which totaled 1.36 percent for the week, came as a welcome development for many investors given that so many investments such as mutual funds are tied to the S&P's performance.

The technology-heavy Nasdaq composite index rose Friday, advancing 9.40, or 0.36 percent, to 2,613.92. Despite a 2.22 percent advance for the week that far outpaced other major indexes, the Nasdaq remains well off of its closing high of 5,048.62, set in March 2000; the index was arguably bloated by investors' frenzy over high-tech and Internet issues.

"As the market pushes higher and higher and higher, people start to get a little more uneasy about where it's at," Frederick said. While he contends the markets appear reasonable at present, he said prudent investors should remain cautious.

"To me it gets a little more nervous every Friday with the market pushing higher," he said, referring to the overall mood on Wall Street.

As stocks climbed Friday, bonds fell sharply. The yield on the benchmark 10-year Treasury note rose to 4.95 percent from 4.89 percent late Thursday. The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude rose $1.07 to $65.08 per barrel on the New York Mercantile Exchange.

Wal-Mart Stores Inc. was the biggest gainer among the 30 components of the Dow industrials. The retailer said it will open fewer U.S. superstores next year as it looks to reduce spending and announced plans to repurchase $15 billion in stock. Wal-Mart rose $1.87, or 3.9 percent, to $49.47.

Technology stocks were among the biggest gainers, as was the case Thursday. Fiscal first-quarter profits at Dell Inc. topped Wall Street's estimates late Thursday and the company said it would cut 10 percent of its work force during the next two years in a bid to lower costs. Dell advanced 39 cents to $27.30.

Dow Jones & Co., parent of The Wall Street Journal, jumped $7.89, or 14.8 percent, to $61.20 after the family that has long controlled the publishing company said it would meet with media mogul Rupert Murdoch to discuss his interest in acquiring the company. The Bancrofts had initially rebuffed an offer from Murdoch's News Corp.

News Corp. rose 59 cents, or 2.5 percent, to $24.22.

In other takeover news, CKX Inc., the operator of Elvis Presley's Graceland estate and holder of the rights to TV's "American Idol," agreed to be taken private by its chairman and chief executive. CKX surged $4.02, or 37.8 percent, to $14.65.

Advancing issues outnumbered decliners by about 2 to 1 on the New York Stock Exchange, where consolidated volume came to 2.85 billion shares compared with a heavy 3.27 billion Thursday. Often Fridays in the summer months see lower trading volume.

The Russell 2000 index of smaller companies rose 6.23, or 0.74 percent, to 853.41.

Overseas, the often-volatile benchmark Shanghai Composite Index fell 2.7 percent. Japan's Nikkei stock average rose 0.47 percent. Britain's FTSE 100 rose 0.84 percent, Germany's DAX index rose 1.33 percent, and France's CAC-40 rose 1.05 percent.

The Dow Jones industrial average ended the week up 160.83, or 1.19 percent, at 13,668.11. The Standard & Poor's 500 index finished up 20.61, or 1.36 percent, at 1,536.34. The Nasdaq composite index advanced 56.73, or 2.22 percent, to 2,613.92.

The Russell 2000 index finished the week up 23.48, or 2.83 percent, at 853.41.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 15,532.67, up 263.46 points for the week. A year ago, the index was at 13,008.66.


----------



## bigdog

The NYSE DOW closed HIGHER by 8 points on Monday June 4:

Symbol ----- Last --- Change
Dow 13,676.32  +8.21 (0.06%) 
Nasdaq 2,618.29  +4.37 (0.17%) 
S&P 500 1,539.18  +2.84 (0.18%) 
10-Yr Bond 4.9290%   -0.0270 
NYSE Volume 2,741,478,000 
Nasdaq Volume 1,978,948,000 

Overseas
 Japan's Nikkei stock average closed up 0.08 percent. At the close, Britain's FTSE 100 was down 0.19 percent, Germany's DAX index dropped 0.14 percent, and France's CAC-40 shed 0.69 percent.

ASX
CONFIDENCE on Wall street and strong commodity prices sent the Australian share market surging to fresh highs yesterday.  At the close, the ASX200 index was ahead 59.4 points at a record of 6392.9, surpassing its previous best of 6369.0 posted on May 21.  The All Ordinaries was also in record territory, 56.1 points up at 6419.6, beating the May 21 record of 6372.5 points.


http://biz.yahoo.com/ap/070604/wall_street.html?.v=46
Stocks Eke Out Gain After China Drop
Monday June 4, 6:07 pm ET 
By Joe Bel Bruno, AP Business Writer  
Wall Street Finishes Slightly Higher Despite Chinese Stock Market Plunge 

NEW YORK (AP) -- Wall Street recovered from a mostly down session Monday, eking out a gain as investors brushed off another slide in Chinese stocks. The market had little in the way of corporate or economic news to give it direction, but while it was in negative territory for much of the day, in the end it shook off an 8.3 percent slide in the benchmark Shanghai Composite Index. The Chinese index had its biggest one-day drop since the Feb. 27 plunge that set off a brief global market selloff as the Chinese government attempts to cool the country's market boom. 

Investors used Monday to adjust positions after both the Standard & Poor's 500 index and Dow Jones industrial average surged to record closes in the previous session. The market was encouraged by economic data released last week that suggested the economy was slowing, but not too quickly, and inflation remained in check.

However, the Commerce Department reported Monday that orders to U.S. factories were weaker than expected in April. Investors might find some information to trade with the release of the Institute of Supply Management's service sector index on Tuesday, but not much other information is expected.

"I think you're seeing a combination of investors wanting to take some profit on a Monday morning, and some fear because of what happened in China," said Ryan Detrick, a senior technical strategist for Schaffer's Investment Research. "There's really no major drivers in the market, so we're really just meandering along."

The Dow rose 8.21, or 0.06 percent, to 13,676.32.

Broader stock indicators were also narrowly higher. The S&P 500 index rose 2.84, or 0.18 percent, to 1,539.18, and the Nasdaq composite index rose 4.37, or 0.17 percent, to 2,618.29.

The Dow and S&P again snagged record closes Monday, and the S&P moved closer to its trading high of 1,552.87, set in March 2000. Last week, the Dow posted a 1.19 percent gain; the S&P 500 index rose 1.36 percent; and the Nasdaq composite index added 2.22 percent.

The bond market moved higher, with the yield on the 10-year Treasury falling to 4.93 percent from 4.96 percent late Friday. The Commerce Department report had some impact on the bond market on hopes weaker data will mean an interest rate cut this year. The report showed 0.3 percent in manufacturing growth in April, and economists expected a rise of 0.7 percent after a 3.1 percent jump in March.

The dollar slipped against other major currencies, while gold prices also fell.

Oil prices rose after a Nigerian militant group announced a one-month cease-fire, and a U.S. gasoline pipeline was restarted. A barrel of light sweet crude rose $1.13 to $66.21 a barrel on the New York Mercantile Exchange.

Michael Sheldon, chief market strategist at Spencer Clarke, said the near term will be dominated by higher energy prices and bond yields -- two catalysts that could cause the equities market to pull back. He believes there's complacency among investors, and that the market will need a correction before resuming an advance later in the summer.

"As investors look ahead, we're past the earnings season, the Fed seems to be out of the way for the moment, and we've had a run-up in equities prices over the past few months," he said, referring to the Federal Reserve's current policy of stable interest rates.

"Given continued uncertainty in the housing sector, and rising energy and food prices, it appears likely to us that we should have a period of consolidation or profit taking before the market turns higher again."

In corporate news, dealmaking activity continued this week. Smartphone maker Palm Inc. said Monday it got $325 million from private equity firm Elevation Partners and announced a shakeup on its board. Palm spiked $1.48, or 9.2 percent, to $17.57.

Publisher Dow Jones & Co. fell $1.04 to $60.16 as the owner of The Wall Street Journal met with Rupert Murdoch about the possibility of an acquisition. Murdoch's News Corp. has offered $5 billion for the company.

Oil and natural gas producer Anadarko Petroleum Corp. said late Sunday it is selling natural gas gathering systems and associated processing plants to Atlas Pipeline Partners LP for $1.85 billion. Anadarko rose $2.30, or 4.6 percent, to $51.95; Atlas shares rose $8.14, or 22.9 percent, to $39.56.

Solectron Corp. rose 51 cents, or 15.2 percent, to $3.88 after rival Flextronics International Ltd. said it would by the contract electronics maker for about $3.6 billion in cash and stock. Flextronics fell 16 cents at $11.54.

Apple Inc.'s highly anticipated iPhone will be available June 29, according to both TV commercials broadcast Sunday night and a company spokesman. Shares of the technology company rose $2.93, or 2.5 percent, to $121.33.

And Wal-Mart Stores Inc. rose $1.74, or 3.5 percent, to $51.21 after being upgraded by analysts at Wachovia Corp. and JPMorgan Chase & Co.

Advancing issues outnumbered decliners by about 4 to 3 on the New York Stock Exchange, where consolidated volume came to 2.69 billion shares, compared to 2.85 billion on Friday.

The Russell 2000 index of smaller companies was up 1.68, or 0.20 percent, at 855.09.

Overseas, Japan's Nikkei stock average closed up 0.08 percent. At the close, Britain's FTSE 100 was down 0.19 percent, Germany's DAX index dropped 0.14 percent, and France's CAC-40 shed 0.69 percent.


----------



## bigdog

The NYSE DOW closed LOWER by 80 points on Tuesday June 5:

Symbol ----- Last --- Change
Dow 13,595.46  -80.86 (0.59%) 
Nasdaq 2,611.23  -7.06 (0.27%) 
S&P 500 1,530.95  -8.23 (0.53%) 
10-Yr Bond 4.9760%   +0.0470
NYSE Volume 2,939,449,000 
Nasdaq Volume 2,262,123,000

Overseas
China's benchmark Shanghai Composite Index rebounded 2.6 percent after plummeting 8.3 percent a day earlier. Japan's Nikkei 225 index rose 0.45 percent. Britain's FTSE 100 fell 0.47 percent, Germany's DAX index dropped 0.71 percent, and France's CAC-40 decreased 0.77 percent.

http://biz.yahoo.com/ap/070605/wall_street.html?.v=42
Wall Street Falls on Bernanke Comments
Tuesday June 5, 6:03 pm ET 
By Madlen Read, AP Business Writer  
Stocks Decline After Bernanke Comments, Service Sector Data 


NEW YORK (AP) -- Wall Street skidded lower Tuesday after comments from Federal Reserve Chairman Ben Bernanke and a strong reading on the service sector suggested the central bank has little reason to lower interest rates.

Bernanke's speech by satellite to an international monetary conference in South Africa Tuesday spurred investors to sell a day after the Dow Jones industrials and Standard & Poor's 500 index edged up to new highs. Bernanke remarked that the economy will recover from its recent feeble performance, despite a housing slump that he said could drag on the economy for longer than anticipated.

His forecast for rebounding growth, as well as his assessment that inflation is "ebbing" but remains "somewhat elevated," made it appear unlikely the Fed will lower rates anytime soon, a disappointment for Wall Street. Behind the stock market's surge, driven primarily by strong takeover activity, has been a backdrop of stable interest rates and the possibility of a rate cut; recently, though, with bond yields creeping up, some investors fear the Fed may alter that climate.

"The market is hoping for slow growth and moderate inflation, and now there's concern they might have to bump up rates in the second half of the year," said Jim Herrick, director of equity trading at Baird & Co.

While the Fed chairman's comments stalled a months-long rally, many analysts have been predicting Wall Street would soon pull back before heading higher later this year. His remarks also came in a week where investors had few economic or corporate catalysts to provide direction.

The Institute for Supply Management issued its service sector report Tuesday. The ISM's nonmanufacturing index came in at 59.7 in May, higher than expected and up from April's reading of 56.0. A reading above 50 indicates expansion in the service sector, a diverse group of industries that represents about 80 percent of U.S. economic activity. Investors want to see growth but worry that if it's too robust, it could prompt a rate hike.

The Dow fell 80.86, or 0.59 percent, to 13,595.46, after earlier falling more than 100 points.

Broader indexes also retreated. The Standard & Poor's 500 index fell 8.23, or 0.53 percent, to 1,530.95, while the Nasdaq composite index shed 7.06, or 0.27 percent, to 2,611.23.

Before Tuesday's decline, the Dow and the S&P 500 had risen more than 8 percent since the beginning of the year.

Bonds slipped after Bernanke's comments and the strong service sector data.

"The good news is he did say this residential real-estate morass won't leach out into the main economy. The bad news is he's still beating the drum pretty hawkishly on inflation," said Jack Ablin, chief investment officer at Harris Private Bank.

The yield on the benchmark 10-year Treasury note rose to 4.98 percent from 4.93 percent late Monday. The 10-year yield is trading at 9-month highs, and appears poised to break through 5 percent, a level not reached since August 2006.

Stocks sold off further after a midday speech by U.S. Treasury Secretary Henry Paulson, who said he has been pressuring China to make its exchange rate more flexible. If the yuan is given the chance to rise in value, it could have a dampening effect on the U.S. dollar.

The dollar fell against other major currencies, while gold prices edged lower.

In takeover news, telecommunications company Avaya Inc. said late Monday it agreed to an $8.2 billion offer by private equity firms Silver Lake and TPG Capital. Avaya rose 31 cents to $17.03.

Retail stocks took a hit after home goods seller Bed Bath & Beyond Inc. late Monday warned its fiscal first-quarter earnings may fall below analyst estimates. The stock lost $2.20, or 5.4 percent, to $38.27.

The biggest decliner among the 30 Dow component companies was DuPont Co., downgraded by Lehman Brothers to an "equal weight" rating from "overweight." The chemicals company fell 95 cents to $52.24.

In other corporate news, Ryanair Holdings PLC reported a record full-year 2006 profit despite higher fuel prices and tough competition, but made a cautious forecast for 2007. The Irish airline's U.S. shares fell $1.69, or 4.2 percent, to $38.66.

Google Inc. rose $11.77, or 2.3 percent, to an all-time high of $518.84. The search leader signed an agreement with Salesforce.com Inc. to cooperate on online advertising.

Declining issues outnumbered advancers by about 3 to 1 on the New York Stock Exchange, where consolidated volume was 2.86 billion shares, compared with 2.69 billion Monday.

The Russell 2000 index of smaller companies was down 6.84, or 0.80 percent, at 848.25.

Crude oil futures for July delivery fell 60 cents to $65.61 a barrel on the New York Mercantile Exchange.

Overseas, China's benchmark Shanghai Composite Index rebounded 2.6 percent after plummeting 8.3 percent a day earlier. Japan's Nikkei 225 index rose 0.45 percent. Britain's FTSE 100 fell 0.47 percent, Germany's DAX index dropped 0.71 percent, and France's CAC-40 decreased 0.77 percent.


----------



## bigdog

The NYSE DOW closed LOWER by 129 points on Wednesday June 6:

Symbol ----- Last --- Change
Dow 13,465.67  -129.79 (0.95%) 
Nasdaq 2,587.18  -24.05 (0.92%) 
S&P 500 1,517.38  -13.57 (0.89%) 
10-Yr Bond 4.9700%   -0.0060 
NYSE Volume 2,966,873,000 
Nasdaq Volume 2,163,431,000 

Overseas trading
China's benchmark Shanghai Composite Index rose 0.2 percent, while Japan's Nikkei 225 index fell 0.07 percent. Britain's FTSE 100 fell 1.66 percent, Germany's DAX index fell 2.40 percent, and France's CAC-40 fell 1.66 percent.

ASX yesterday
THE stock market hit a rough patch yesterday, closing weaker after a poor lead from New York and lower metal prices. The ASX200 index ended 33.7 points down at 6337.1, while the All Ordinaries shed 32.5 points to 6367.4. 

http://biz.yahoo.com/ap/070606/wall_street.html?.v=55
Stocks Slide on Rate, Inflation Concerns
Wednesday June 6, 6:12 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Slide for a Second Day on Concerns About Inflation and Interest Rates 

NEW YORK (AP) -- Stocks slid for a second straight session Wednesday after an increase in labor costs stirred concerns about inflation and interest rates and as the yield on the benchmark 10-year Treasury flirted with 5 percent. The Dow Jones industrials fell nearly 130 points and registered its biggest two-day decline since March.

Economic data showing unit labor costs rose a higher-than-expected 1.8 percent raised concerns of inflationary pressures. The Labor Department also reported that productivity waned in the first quarter as expected. The readings did little to alleviate investor concerns that the inflation-wary Federal Reserve might lean toward raising rates rather than lowering them later this year.

The inflation jitters came alongside the European Central Bank's widely expected decision to raise its key interest rate by a quarter of a percentage point to 4 percent. Stocks in Europe fell sharply.

"In the last week or two, the expectation that the Fed was going to lower interest rates in the next six months has been put to the side so the bond market has reacted," said George Shipp, chief investment officer at investment adviser Scott & Stringfellow, referring to a recent rise in bond yields. Yields, which move higher as bond prices fall, have increased as investors have regarded a reduction in interest rates as less likely.

Shipp contends investors shouldn't read too much into the pullback in stocks.

"The market has come a long way. We're down for a couple days but we've been up for 11 out of the last 12 months. Right now you'd have to call it normal profit taking."

The Dow fell 129.79, or 0.95 percent, to 13,465.67, losing more than 210 points in two days.

Broader stock indicators also fell. The Standard & Poor's 500 index fell 13.57, or 0.89 percent, to 1,517.38, and the Nasdaq composite index fell 24.05, or 0.92 percent, to 2,587.18.

For the week, the Dow is off 200 points, or 1.48 percent, while the S&P 500 is off 1.23 percent and the Nasdaq has given up 1.02 percent.

Wednesday's decline came a day after the three major indexes slumped following remarks from Fed Chairman Ben Bernanke and service sector data that hinted the economy is on the rebound, lowering the chance of an interest rate cut. But despite the fresh concerns about inflation, the economic picture doesn't appear to have changed substantively from last week when the S&P 500 broke a seven-year-old closing record and the Dow continued to hit fresh highs.

"I think the underlying fundamentals that have gotten us to this point -- global growth, excellent corporate profitability, obviously a lot of merger activity -- haven't changed," Shipp said.

Wall Street kept a close eye on the Treasury market as the 10-year note's yield approaches 5 percent, a level not seen since August 2006. Bonds rose as stocks fell; the yield on the benchmark 10-year Treasury note fell to 4.97 percent from 4.98 percent late Tuesday.

The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude rose 35 cents to $65.96 per barrel on the New York Mercantile Exchange.

Along with the Labor Department data, the stock and bond markets received comments from Fed officials. Richmond Fed President Jeffrey Lacker, speaking in Frederick, Md., reiterated long-standing concerns about inflation but said the economy appeared poised for increased growth. Kansas City Fed President Thomas Hoenig said the economy is likely pick up steam as the year continues.

Douglas Pyle, a managing director at U.S. Trust Co., contends that after the run-up in stocks in recent months a pullback was overdue.

"You have all this stuff that really I think is just noise. We've had such a move that's been uncorrected that it's probably long overdue that something like this happens. It's normal and I think it's healthy. I think the longer-term picture for equities in the U.S. is quite positive."

Fresh speculation about takeovers failed to break Wall Street's downcast mood. Two hedge funds that own stakes in TD Ameritrade Holding Corp. are pushing the online brokerage firm to join forces with either E-Trade Financial Corp. or Charles Schwab Corp. TD Ameritrade jumped 76 cents, or 3.8 percent, to $20.71.

In other corporate news, Panera Bread Co. fell $8.04, or 13.8 percent, to $50.28 after the restaurant chain reduced its forecasts for second-quarter profits and same-store sales, or sales at stores open at least a year.

XTL Biopharmaceuticals Ltd. fell 63 cents, or 17.7 percent, to $2.90 after the company halted development of a hepatitis C drug candidate that it determined was no more effective than a placebo in reducing patients' viral load in an early stage clinical trial.

Declining issues outnumbered advancers by about 4 to 1 on the New York Stock Exchange, where volume came to 2.92 billion shares compared with 2.86 billion traded Tuesday.

The Russell 2000 index of smaller companies fell 7.04, or 0.83 percent, to 841.21.

In other overseas trading, China's benchmark Shanghai Composite Index rose 0.2 percent, while Japan's Nikkei 225 index fell 0.07 percent. Britain's FTSE 100 fell 1.66 percent, Germany's DAX index fell 2.40 percent, and France's CAC-40 fell 1.66 percent.


----------



## bigdog

The NYSE DOW closed LOWER by 198 points on Thursday June 7:

WOW!!!!

Symbol ----- Last --- Change
Dow 13,266.73  -198.94 (1.48%) 
Nasdaq 2,541.38  -45.80 (1.77%) 
S&P 500 1,490.72  -26.66 (1.76%) 
10-Yr Bond 5.10%   +0.13 
NYSE Volume 3,561,136,000 
Nasdaq Volume 2,438,486,000 

In overseas trading
China's benchmark Shanghai Composite Index rose 3 percent, while Japan's Nikkei stock average rose 0.07 percent. Britain's FTSE 100 closed down 0.27 percent, Germany's DAX index fell 1.44 percent, and France's CAC-40 fell 1.46 percent.

ASX June 7
AUSTRALIAN stocks recovered some of their earlier losses but still ended the day on a low note after weaker overseas markets and fears of higher interest rates affected the local bourse.  The ASX200 index ended down 26 points at 6311.1, while the All Ordinaries was 29.2 points lower at 6338.2.


http://biz.yahoo.com/ap/070607/wall_street.html?.v=59
Stocks Fall Sharply As Yields Surge
Thursday June 7, 6:33 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks Fall Sharply After 10-Year Yield Passes 5 Percent; Dow Falls Nearly 200 Points *

NEW YORK (AP) -- Wall Street fell sharply for a third straight session Thursday after rising bond yields deflated hopes for an interest rate cut later in the year. The Dow Jones industrials fell nearly 200 points and the S&P 500 index fell below the 1,500 mark.

The yield on the Treasury's 10-year note passed 5 percent Thursday, reaching a close of 5.13 percent in New York, its highest point since mid-July. The move unnerved investors who contend the Federal Reserve will be less inclined to cut short-term interest rates.

Stocks also fell as retailers turned in mixed sales results for May. While sales figures improved from the prior month, investors faced some concerns that rising gas prices could cut into consumers' spending money. The array of fresh economic news, which was in some cases positive, didn't halt the selling.

"When this year started, Wall Street and global markets were too enthusiastic that central bank tightening was behind them," said Subodh Kumar, global investment strategist at Subodh Kumar & Assoc., referring to higher interest rates. "I think we're seeing the realization that central banks are not in ease mode. People have been discounting the effect that rising bond yields would have on stocks and their valuations."

The Dow fell 198.94, or 1.48 percent, to 13,266.73, bringing its three-day loss to about 410 points. It was the biggest three-session decline since stock markets began a short-lived pullback on Feb. 27. All 30 stocks in the blue chip average lost ground Thursday.

Broader stock indicators also fell. The Standard & Poor's 500 index fell 26.66, or 1.76 percent, to 1,490.72, and the Nasdaq composite index fell 45.80, or 1.77 percent, to 2,541.38.

While Thursday's pullback was widespread, the selling widely dented utilities and financials stocks. Goldman Sachs Inc., the investment bank, fell $7.30, or 3.2 percent, to $220.05, while Merrill Lynch & Co. slid $3.07, or 3.4 percent, to $87.26.

For the week, following only modest moves Monday and then three declining sessions, the Dow is down 2.94 percent, while the S&P 500 is off 2.97 percent and the Nasdaq is down 2.78 percent. Prior to the slide that began Tuesday, the Dow was up 9.7 percent for the year, while the S&P and Nasdaq were up about 8.5 percent. Both the Dow and the S&P had record closes as recently as Friday.

Bonds fell sharply, with the yield on the benchmark 10-year Treasury note jumping to 5.13 percent late Thursday from 4.97 percent late Wednesday. Some market watchers say the yield is likely to climb higher as bond prices weaken, making it harder for consumers to finance home purchases and for companies to borrow money.

Interest rate moves abroad contributed to the declines in the U.S. credit markets. On Thursday, the Bank of England decided to leave its benchmark rate steady, after New Zealand's central bank surprised markets by raising its rate to a record high 8 percent from 7.75 percent to curb inflation. On Wednesday, the European Central Bank raised its own rate as well.

The dollar was mixed against other major currencies, while gold prices fell sharply. Light, sweet crude rose 97 cents to $66.93 per barrel on the New York Mercantile Exchange amid concerns that U.S. refineries aren't keeping pace with demand.

Thursday brought new economic data that did little to deter stocks' downward slide. The Commerce Department said inventories among U.S. wholesalers rose 0.03 percent in April to a seasonally adjusted $394.54 billion after increasing a revised 0.4 percent in March. The March increase had been pegged at 0.3 percent.

And a dip in applications for unemployment benefits last week, which indicates a healthy labor market, also made a rate cut seem less likely.

But interest rates held investors' attention Thursday after two sessions in which unease over inflation helped push stocks lower. Investors are concerned the Fed, which has stood pat on interest rates in recent meetings, could raise interest rates to combat inflation.

Some observers saw the concerns about interest rates as overblown.

"Historically, we're at lows," said Michael Church, portfolio manager at Church Capital Management, referring to interest rates. "I don't think 5 percent is some sort of hard and fast number where this market turns. I don't think 5 percent is going to compel people to take money out of equities."

"Everyone seems to like to focus on this 5 percent level. I think it's in many ways mythical. Five percent is really not that high of an interest rate."

He contends that after the run-up in stocks that began in the second half of last year and accelerated in recent weeks, Wall Street was due for some retrenchment.

"I would be concerned if we didn't have some profit-taking and some mild pullbacks here and there."

In corporate news, Wal-Mart Stores Inc.'s May same-store sales, or sales at stores open at least a year, rose a weaker-than-expected 1.1 percent. Wal-Mart, a component of the Dow industrials, fell 99 cents to $49.76.

Saks Inc. jumped $1.10, or 5.8 percent, to $20.12 after the luxury retailer posted stronger-than-expected sales.

Apple Inc. jumped 43 cents to $124.07 after an analyst predicted the company, which is scheduled to release a multifunction mobile phone at the end of the month, could sell 45 million of the iPhone devices in 2009 and raised his price target on the stock. The shares hit an all-time high of $127.61.

Biomet Inc. rose $1.36, or 3.1 percent, to $45.56 after a private equity consortium increased its bid for the maker of orthopedic products and the company urged shareholders to accept the sweetened offer.

The Russell 2000 index of smaller companies fell 15.89, or 1.89 percent, to 825.32.

Declining issues outnumbered advancers by about 10 to 1 on the New York Stock Exchange, where volume came to a heavy 1.91 billion shares compared with 1.55 billion traded Wednesday.

In overseas trading, China's benchmark Shanghai Composite Index rose 3 percent, while Japan's Nikkei stock average rose 0.07 percent. Britain's FTSE 100 closed down 0.27 percent, Germany's DAX index fell 1.44 percent, and France's CAC-40 fell 1.46 percent.


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## bigdog

The NYSE DOW closed HIGHER by 157 points on Friday June 8:

WOW!!!!

Symbol ----- Last --- Change
Dow 13,424.39  +157.66 (1.19%) 
Nasdaq 2,573.54  +32.16 (1.27%) 
S&P 500 1,507.67  +16.95 (1.14%) 
10-Yr Bond 5.1180%   +0.0190 
NYSE Volume 2,993,468,000 
Nasdaq Volume 1,986,694,000 

After U.S. stocks' big sell-off on Thursday, Japan's Nikkei stock average fell 1.52 percent, Hong Kong's Hang Seng Index dropped 1.4 percent, Singapore's stock market lost 1.2 percent, and Australian stocks declined 1.3 percent. China's benchmark Shanghai Composite Index rose 0.6 percent, however, its fourth straight gain.

In European trading, Britain's FTSE 100 ended flat, Germany's DAX index fell 0.37 percent, and France's CAC-40 fell 0.12 percent.

http://biz.yahoo.com/ap/070608/wall_street.html?.v=44
Stocks Extend Rebound After Selloff
Friday June 8, 5:01 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Strike Higher Following Global Selloff, Weak Bonds; Dow Shows Triple-Digit Gain 

NEW YORK (AP) -- Stocks snapped a three-day losing streak Friday, allowing investors to recoup some of the losses incurred during a week in which concerns about interest rates roiled Wall Street. In Friday's session, the Dow Jones industrial average showed a triple-digit gain, and the Standard & Poor's 500 index crossed back above the 1,500 mark.

After briefly dipping into negative territory in late morning, stocks gained steam in the afternoon as yields on the 10-year Treasury note backed off five-year highs of 5.25 percent. As stocks closed Friday, yields on the benchmark note hovered around 5.11 percent.

Yields, which move in the opposite direction as bond prices, rose during the week as investors grew less optimistic that the Federal Reserve would lower short-term interest rates. A move above the 5 percent level Thursday in the 10-year bond yield sent stock market investors rushing to bonds.

"The fact that it rallied the last two hours of the day (Friday) showed people were coming in buying what they thought were pretty good bargains," said Ryan Detrick, senior technical analyst at Schaeffer's Investment Research.

According to preliminary calculations, the Dow industrials rose 157.66, or 1.19 percent, to 13,424.39.

Broader stock indicators rose. The S&P 500 advanced 16.95, or 1.14 percent, to 1,507.67, and the Nasdaq composite index rose 32.16, or 1.27 percent, to 2,573.54.

For the week, the Dow lost 1.78 percent, the S&P 500 lost 1.87 percent and the Nasdaq fell 1.54 percent.  Before stocks regained some ground Friday, the major indexes had each lost nearly 3 percent in what was the biggest three-session decline since a short-lived pullback that began Feb. 27.

"It definitely was a down week, but investors tend to have a short-term memory," Detrick said. "They just remember the good Friday. This three-day dip might be nothing more than a solid buying opportunity."

Still, the week's swings had some investors wondering whether an extended rise in interest rates would cork the huge flow of takeover activity that, according to financial data provider Dealogic, has been on pace to beat last year's record $4 trillion.

"We haven't had any major buyouts in the last week, and I think it's directly related to the higher interest rates we've seen," Detrick said.

While companies and investors might have felt less acquisitive than in recent months, some dealmakers saw fit to plow ahead.

Biomet Inc. said Thursday a private equity consortium upped its bid for the maker of orthopedic products by 4.5 percent from $10.9 billion to $11.4 billion. Biomet on Friday slipped 7 cents to $45.49.

Tyco International Ltd. said its board has formally approved the industrial conglomerate's breakup into three companies through a tax-free dividend distribution to shareholders. Tyco rose $1.17, or 3.6 percent, to $33.80.

In other corporate news, McDonald's Corp. rose $1.20, or 2.4 percent, to $51.41 after the world's largest fast-food chain said its global same-store sales, or sales at restaurants open at least 13 months, rose 8.7 percent in May.

National Semiconductor Corp. jumped $3.79, or 15 percent, to $29.58 after increased orders and stronger profit margins helped the chipmaker post better-than-expected fiscal fourth-quarter earnings.

The dollar rose against other major currencies, while gold prices fell.

Oil futures fell sharply after a cyclone spared major oil installations in the Gulf of Oman and eased supply concerns. Light, sweet crude for July delivery settled down $2.17 at $64.76 per barrel on the New York Mercantile Exchange.

Advancing issues outnumbered decliners by more than 2 to 1 on the New York Stock Exchange, where volume came to 1.56 billion shares compared with a heavy 1.91 billion seen Thursday.

The Russell 2000 index of smaller companies rose 9.99, or 1.21 percent, to 835.31.

After U.S. stocks' big sell-off on Thursday, Japan's Nikkei stock average fell 1.52 percent, Hong Kong's Hang Seng Index dropped 1.4 percent, Singapore's stock market lost 1.2 percent, and Australian stocks declined 1.3 percent. China's benchmark Shanghai Composite Index rose 0.6 percent, however, its fourth straight gain.

In European trading, Britain's FTSE 100 ended flat, Germany's DAX index fell 0.37 percent, and France's CAC-40 fell 0.12 percent.


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## bigdog

The NYSE DOW closed HIGHER by 0.57 points on Monday June 11:

The NYSE DOW closed HIGHER by 157 points on Friday June 8:

Symbol ----- Last --- Change
Dow 13,424.96  +0.57 (0.00%) 
Nasdaq 2,572.15  -1.39 (0.05%) 
S&P 500 1,509.12  +1.45 (0.10%) 
10-Yr Bond 5.1370%   +0.0190 
NYSE Volume 2,525,283,000 
Nasdaq Volume 1,688,354,000 

Stock markets abroad rose after steep declines last week. 
Japan's Nikkei stock average rose 0.31 percent and China's often-volatile Shanghai Composite Index rose 2.1 percent. Britain's FTSE 100 rose 0.96 percent, Germany's DAX index advanced 1.52 percent, and France's CAC-40 rose 0.97.


http://biz.yahoo.com/ap/070611/wall_street.html?.v=50
Stocks End Flat As Bond Yields Stay High
Monday June 11, 6:18 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Finish Flat As High Bond Yields Stifle Efforts to Rebound 

NEW YORK (AP) -- Stocks finished a wobbly session flat Monday as stubbornly high bond yields discouraged investors from extending Wall Street's recovery from last week's steep losses.

The yield on the Treasury's 10-year note rose to 5.16 percent Monday from 5.11 percent late Friday. Last week, investors took signs of recalcitrant inflation to mean a rate cut by the Federal Reserve was unlikely, and they sent stock and bond prices tumbling; since yields move in the opposite direction from bond prices, market interest rates soared. The 10-year Treasury yield climbed above 5 percent for the first time since last summer.

The Fed has kept the federal funds rate, the interest banks charge each other for overnight loans, unchanged at 5.25 percent since last summer, following a string of increases over about two years.

"I don't think that there is a lot of clarity as to monetary policy for the rest of 2007 and I think that in general puts markets on edge," said Les Satlow, portfolio manager at Cabot Money Management. "I think it's a reflection of institutional ambivalence," he said of the back-and-forth direction of stocks.

The Dow Jones industrial average rose 0.57, or less than 0.01 percent, to end at 13,424.96, capping a day of trading that saw stocks slip, advance, and then pull back again. The Dow rose 157 points Friday, but still finished the week down 1.78 percent.

Broader stock indicators were narrowly mixed. The Standard & Poor's 500 index rose 1.45, or 0.10 percent, to 1,509.12, and the Nasdaq composite index fell 1.39, or 0.05 percent, to 2,572.15.

Oil prices, which also stirred inflation concerns last week, rebounded Monday after falling sharply Friday. Iran's oil minister said Monday the Organization of Petroleum Exporting Countries doesn't plan to release more oil into the market ahead of its next policy meeting in September. Light, sweet crude rose $1.21 to $65.97 per barrel on the New York Mercantile Exchange.

Amid an absence of economic and earnings reports, investors will likely focus on moves of the bond market and individual stocks as they await data on inflation due later in the week. On Thursday, the Labor Department releases its producer price index and on Friday the consumer price index is due.

"The weakness in the bond market is a real concern for equity investors. We have been discussing for several weeks the possibility of a near-term equity market correction being triggered by technical factors. Higher bond yields now also provide a fundamental reason for investors to be wary over the short-term," wrote Bob Doll, BlackRock's global chief investment officer of equities, in a research note.

The Fed's message on inflation has been that it remains too high and that holding down rising prices remains its focus.

Cleveland Fed President Sandra Pianalto, speaking in Germany Monday, said U.S. inflation remains higher than the Fed would like and that spikes in prices, liquidity crises or fiscal imbalances could upend central banks' notions of how contained inflation might be.

In corporate news, steel maker Nucor Corp. warned its second-quarter profit will fall because customers had increased orders in the first quarter ahead of an expected price rise, making for lower orders in the second quarter. Nucor fell $3.95, or 5.9 percent, to $62.66. Other steel makers fell as German steel company ThyssenKrupp AG denied it is in talks to acquire rival U.S. Steel Corp., which fell $8.85, or 7 percent, to $116.20.

Homebuilder stocks fell at the prospect that rising interest rates would drive up the cost of buying a home. Hovnanian Enterprises Inc. fell 56 cents, or 2.6 percent, to $21.24 and set a fresh 52-week low of $20.95; previously the low was $21.02. Toll Brothers Inc. fell 52 cents to $27.62.

The flow of dealmaking that has helped prop up stocks in the absence of compelling economic or earnings data continued, but at a slower pace Monday than in recent months. Rexam PLC fell 79 cents to $49.40 after the British company agreed to acquire the plastic packaging business of Owens-Illinois Inc. for nearly $1.83 billion. O-I slipped 62 cents to $32.65.

Biotech drug maker Medivation Inc. soared $3.62, or 22 percent, to $19.80 after the company said its Alzheimer's drug Dimebon showed favorable results.

Bearingpoint Inc. fell 17 cents, or 2.2 percent, to $7.43, after a Jefferies analyst lowered his rating on the management and technology consulting company citing increased competition and lower demand in the sector.

The dollar was higher against most other major currencies, and gold prices also rose.

Advancing issues just barely outnumbered decliners on the New York Stock Exchange, where consolidated volume came to 2.47 billion shares, down from 2.98 billion shares Friday.

The Russell 2000 index of smaller companies fell 2.13, or 0.25 percent, to 833.18.

Stock markets abroad rose after steep declines last week. Japan's Nikkei stock average rose 0.31 percent and China's often-volatile Shanghai Composite Index rose 2.1 percent. Britain's FTSE 100 rose 0.96 percent, Germany's DAX index advanced 1.52 percent, and France's CAC-40 rose 0.97.


----------



## bigdog

The NYSE DOW closed LOWER by 129 points on Tuesday June 12:

Symbol ----- Last --- Change
Dow 13,295.01  -129.95 (0.97%) 
Nasdaq 2,549.77  -22.38 (0.87%) 
S&P 500 1,493.00  -16.12 (1.07%) 
10-Yr Bond 5.2480%   +0.1110 
NYSE Volume 3,032,176,000 
Nasdaq Volume 2,100,573,000

Overseas
Japan's Nikkei stock average fell 0.41 percent. Britain's FTSE 100 fell 0.72 percent, Germany's DAX index fell 0.36 percent, and France's CAC-40 fell 0.71 percent.

http://biz.yahoo.com/ap/070612/wall_street.html?.v=60
Stocks Drop on Surging Bond Yields
Tuesday June 12, 4:31 pm ET 
By Madlen Read, AP Business Writer  
Stocks Resume Drop As 10-Year Yield Hits 5.27 Percent 

NEW YORK (AP) -- Wall Street plunged Tuesday as investors, driving the Dow Jones industrial average down nearly 130 points, grappled with a seemingly relentless rise in bond yields.

It was a fitful trading session that saw stocks tumble, claw their way back and then plummet again when the yield on the 10-year Treasury note soared to a five-year high of 5.27 percent. The climb in bond yields exacerbated jitters about mortgage rates rising, which could hurt the already sluggish housing market, and about the Federal Reserve hiking interest rates, which would slow down corporate dealmaking.

Surging takeover activity had helped boost stocks to record levels until a week ago, when the benchmark 10-year Treasury note's yield passed 5 percent, unnerving stock investors and triggering a selloff.

"It's partially an excuse to take profits, but there are also some legitimate concerns that if bond yields get high enough, they will present an attractive alternative to stocks, and that higher interest rates will reduce private equity activity," said Edward Yardeni, president of Yardeni Research Inc.

The rise in Treasury yields Tuesday was stoked by a tepid reaction to the government's auction of $8 billion in new 10-year notes, and further aggravated by confounding comments from former Federal Reserve Chairman Alan Greenspan, who said he is not worried about foreign governments selling their U.S. Treasury holdings, but added that yields will likely rise in the future.

"I think Greenspan's comments are on both sides of the fence," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners Inc. He added that with quarterly options expiring at the end of this week, the stock market is especially volatile right now.

According to preliminary calculations, the Dow Jones industrial average fell 129.95, or 0.97 percent, to 13,295.01. The blue chip index is 381 points, or 2.8 percent, below its record close of 13,676.32, reached June 4.

The broader stock indexes also declined. The Standard & Poor's 500 index fell 16.12, or 1.07 percent, to 1,493.00, while the Nasdaq composite index dropped 22.38, or 0.87 percent, to 2,549.77.

The stock market saw losses in most sectors Tuesday, but homebuilders saw particular weakness; Americans could be dissuaded from buying homes, as mortgage rates rise alongside the 10-year yield.

Toll Brothers Inc., Centex Corp., KB Home, Pulte Homes Inc. and Lennar Corp. all fell more than 2 percent, while Hovnanian Enterprises Inc. dropped more than 4 percent.

According to Bankrate.com, the average 30-year fixed-rate mortgage was at 6.33 percent Tuesday, up from 6.07 percent a week ago.

Fed funds futures -- bets on the Federal Reserve's upcoming interest rate moves -- indicated on Tuesday that the market expects the central bank to keep rates at 5.25 percent through the end of the year. Before, it had been predicting a bigger chance of a rate cut.

In corporate news, Dean Foods Co., the largest dairy company in the United States, warned that its full-year profit before certain items will miss Street's forecast because of rising raw milk prices and an oversupply of organic milk. The stock fell $1.39, or 4.3 percent, to $31.07.

Texas Instruments Inc., which makes semiconductors used in mobile phones, late Monday narrowed its second-quarter forecast. The stock fell 75 cents, or 2.10 percent, to $35.04.

Continental Airlines Inc. also slumped after analysts cut their earnings expectations for the airline. Continental fell $1.59, or 4.5 percent, to $34.10.

But Lehman Brothers Holdings Inc. reported a stronger-than-expected profit for its second-quarter. Bear Stearns Cos. and Goldman Sachs Group Inc. are expected to report Thursday.

Lehman rose 38 cents to $76.06.

Video game publisher Take-Two Interactive Software Inc. reported weak second-quarter results late Monday, but announced plans to cut costs and received an analyst upgrade. The stock rose 39 cents, or 2.1 percent, to $19.33.

Many analysts are viewing the recent pullback in the stock market as a short-term dip ahead of the second-quarter earnings season, which begins in earnest in July. Yardeni pointed out that with recent estimates of year-over-year earnings averaging about 4 percent, financial results could easily beat expectations as they did in the first quarter.

"We go through these little panic attacks in the market -- we had one last year in May and June, we had one this year in March, we may be in the midst of one now. Often these panic attacks turn out to be buying opportunities," Yardeni said.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude futures fell 62 cents to $65.35 a barrel on the New York Mercantile Exchange.

Declining issues outnumbered advancers by about 5 to 1 on the New York Stock Exchange, where volume came to 1.25 billion shares.

The Russell 2000 index of smaller companies was down 11.46, or 1.38 percent, at 821.72.

Investors are awaiting retail sales data on Wednesday, the Producer Price Index on Thursday, and the Consumer Price Index on Friday. The PPI and CPI are closely watched inflation gauges.

Overseas, Japan's Nikkei stock average fell 0.41 percent. Britain's FTSE 100 fell 0.72 percent, Germany's DAX index fell 0.36 percent, and France's CAC-40 fell 0.71 percent.


----------



## bigdog

The NYSE DOW closed HIGHER by 187 points on Wednesday June 13:

Symbol ----- Last --- Change
Dow 13,482.35  +187.34 (1.41%) 
Nasdaq 2,582.31  +32.54 (1.28%) 
S&P 500 1,515.67  +22.67 (1.52%) 
10-Yr Bond 5.2000%   -0.0480 
NYSE Volume 3,077,936,000 
Nasdaq Volume 2,169,113,000

*Dow Posts Best One-Day Gain of 2007 @ 187 points*

Overseas
Japan's Nikkei stock average fell 0.16 percent; Britain's FTSE 100 rose 0.60 percent, Germany's DAX index gained 0.03 percent, and France's CAC-40 rose 0.61 percent. In China, the often-volatile Shanghai Composite Exchange rose 2.6 percent.

http://biz.yahoo.com/ap/070613/wall_street.html?.v=59
Wall Street Rebounds, Dow Up 187 Points
Wednesday June 13, 6:13 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Soar on Falling Bond Yields, Surprise Jump in Retail Sales 

NEW YORK (AP) -- Wall Street rebounded smartly Wednesday, propelling the Dow Jones industrial average up 187 points as bond yields eased and economic data came in stronger than expected.

The Dow saw its biggest point gain since July 19, 2006, and more than made up for a plunge a day earlier that was fueled by the benchmark 10-year Treasury note yield's surge to five-year highs. Rising bond yields amid inflation concerns had been pummeling stocks since last week.

Though rate worries still dog investors, their confidence perked up after the Commerce Department said Wednesday that retail sales jumped 1.4 percent in May. The rise, which followed a 0.1 percent decline in April, was the highest in 16 months and double the increase analysts expected. It signaled to the stock market that consumers plan to keep spending and pushing the economy along, even as gas prices and other costs increase.

Investors were also pleased about the Federal Reserve's Beige Book report, which said the U.S. economy kept expanding at a moderate pace in the first part of the second quarter, and that various regions around the United States "did not indicate an increase in overall price pressures." The central bank's next meeting on interest rates will be held in two weeks.

Though the strong economic snapshots inspired buying Wednesday, market watchers noted that an uptick in growth may raise the chance of a rate hike later this year, and that bonds are still trading near multi-year highs.

"This is a classic demonstration of the market's continuing denial of risk," said Robert Brown, chief investment officer at Genworth Financial Asset Management, contending that while the economic news is generally favorable, investors aren't pricing in adequate amounts of risk. "It wants to ignore the negative news and focus solely on the positive.

"It wants to go up and it has the fuel to do it."

The Dow jumped 187.34, or 1.41 percent, to 13,482.35, after bouncing around earlier in the session as investors weighed the possibility of rising interest rates. The index is still 193.97 points, or 1.41 percent, below its record close of 13,676.32 reached June 4.

Broader stock indicators also advanced sharply. The Standard & Poor's 500 index rose 22.67, or 1.52 percent, to 1,515.67, and the Nasdaq composite index rose 32.54, or 1.28 percent, to 2,582.31.

The S&P 500 and Nasdaq indexes both saw their largest point gains since March 21.

Bond yields spiked early Wednesday before falling back as investors re-entered the market to take advantage of low prices, which move in the opposite direction of yields. The yield on the benchmark 10-year Treasury note slipped to 5.21 percent from 5.295 percent Tuesday.

Rising oil prices didn't upend the stock market's gains. Light, sweet crude climbed 91 cents to $66.26 per barrel after the government reported that U.S. crude oil stocks increased by a modest 100,000 barrels last week, while gasoline inventories were flat. Investors had expected stores of gasoline would rise.

The dollar was mixed against other major currencies, and gold prices slipped.

In other economic news, the Labor Department said U.S. import prices rose a higher-than-expected 0.09 percent in May, the third consecutive monthly increase, as costs rose for food, energy and automobiles.

Also, the Commerce Department reported that U.S. businesses added to their stores of unsold goods in April at a faster-than-expected pace. The increase could suggest businesses are ending efforts to draw down their inventories in the face of a slowing economy.

Last week, investors regarded inflation levels that appeared defiantly above the Fed's comfort level as a sign that the central bank wouldn't cut short-term interest rates. As yields move in the opposite direction of bond prices, market interest rates soared. The 10-year Treasury yield climbed above 5 percent for the first time since last summer.

Hank Herrmann, chief executive of Waddell & Reed, contends that June should provide a more accurate reflection of the state of the economy and that data due Thursday and Friday on inflation could weigh heavily on the markets.

"If they come out negative we'll probably see another sell-off in both bonds and stocks," he said, referring to the inflation figures.

In corporate news, Blockbuster Inc. rose 32 cents, or 8.1 percent, to $4.27 after a Citigroup analyst praised the company's plan to offer less expensive online rentals.

Of the 500 stocks in the S&P 500 index, just 27 fell. Only one of the 30 Dow component companies slipped -- telecommunications company Verizon Communications Inc., which fell 18 cents to $42.90.

Advancing issues outnumbered decliners by more than 4 to 1 on the New York Stock Exchange, where consolidated volume came to 3.02 billion shares, up slightly from 2.99 billion Tuesday.

The Russell 2000 index of smaller companies rose 10.82, or 1.32 percent, to 832.54.

Overseas, Japan's Nikkei stock average fell 0.16 percent; Britain's FTSE 100 rose 0.60 percent, Germany's DAX index gained 0.03 percent, and France's CAC-40 rose 0.61 percent. In China, the often-volatile Shanghai Composite Exchange rose 2.6 percent.


----------



## Arturius

Ha, I love the news. Retail sales had nothing to do with the dow jumping.


----------



## wayneL

Arturius said:


> Ha, I love the news. Retail sales had nothing to do with the dow jumping.



The news is just stupid...designed for the muppets. 

But what do you think caused it? GS's largest client buying bonds? GS's largest client buying futures? Retail investors excited that long term rates aren't going to 10% in the next 3 days?

All of the above?

The mystery is killing me.


----------



## bigdog

The NYSE DOW closed HIGHER by 71 points on Thursday June 14:

Symbol ----- Last --- Change
Dow 13,553.72  +71.37 (0.53%) 
Nasdaq 2,599.41  +17.10 (0.66%) 
S&P 500 1,522.97  +7.30 (0.48%) 
10-Yr Bond 5.22%   +0.02 
NYSE Volume 2,839,212,000 
Nasdaq Volume 2,020,624

COLOR="Green"]Rising stock markets overseas also gave Wall Street a boost. Japan's Nikkei stock average gained 0.62 percent, Britain's FTSE 100 added 1.38 percent, Germany's DAX index rose 2.19 percent, and France's CAC-40 advanced 1.90 percent.[/COLOR]

http://biz.yahoo.com/ap/070614/wall_street.html?.v=52
Stocks Extend Rally After Inflation Data
Thursday June 14, 6:19 pm ET 
By Madlen Read, AP Business Writer  
Stocks Rally Again After Core Wholesale Inflation Shows Slight Rise 

NEW YORK (AP) -- Wall Street surged again Thursday, launching the Dow Jones industrial average to its best two-day advance since last July after data showed that wholesale inflation, excluding energy and food costs, is rising at a gentle pace.

The market was unfazed by the Labor Department's headline producer price index, which rose 0.9 percent in May due to surging gasoline prices -- a bigger increase than in April and higher than economists predicted. Investors instead were pleased that the core PPI, which strips out often-volatile food and energy costs, posted a small 0.2 percent rise, as expected, after a flat reading in April.

If core inflation is under control, the Federal Reserve is unlikely to lift interest rates, a possibility that started dogging the market last week, when the yield on the benchmark 10-year Treasury note passed 5 percent for the first time since last summer.

The 10-year yield edged up Thursday to 5.23 percent from 5.21 percent late Wednesday, but stayed well below the peak of 5.295 percent reached Tuesday. The market's initial dismay over rising bond yields and the diminishing chance of a rate cut seems to have abated; with Treasury yields appearing stable, the market is more at ease with the idea that the Fed probably won't lower rates this year, said Jay Suskind, head trader at Ryan Beck & Co.

"Now perhaps the glass is being seen as half-full," Suskind said. "If the reason for higher interest rates is growth, well, at the end of the day, that's what grows corporate earnings."

The consumer price index, an inflation gauge that is even more closely watched by the Fed than the PPI, will be released Friday.

The Dow rose 71.37, or 0.53 percent, to 13,553.72. The Dow has risen 258 points over the past two sessions, logging its largest two-day point gain since July 18-19.

The blue chip index is still 122 points below the record close it hit on June 4, but it is up 287 points from 13,266.73 -- the trough it tumbled to on June 7, after rising yields started spooking investors.

Broader stock indicators also rose Thursday. The Standard & Poor's 500 index advanced 7.30, or 0.48 percent, to 1,522.97, and the Nasdaq composite index climbed 17.10, or 0.66 percent, to 2,599.41.

Rising stock markets overseas also gave Wall Street a boost. Japan's Nikkei stock average gained 0.62 percent, Britain's FTSE 100 added 1.38 percent, Germany's DAX index rose 2.19 percent, and France's CAC-40 advanced 1.90 percent.

The dollar rose against other major currencies, and gold prices also climbed.

Crude oil prices jumped $1.39 to $67.65 a barrel on the New York Mercantile Exchange, buoying oil company stocks. ExxonMobil Corp., Chevron Corp. and ConocoPhillips all rose more than 1 percent.

In other economic data Thursday, the Labor Department said jobless claims totaled 311,000 last week, unchanged from the previous week and a better result than the market expected.

A dearth of economic and earnings data last week gave investors time to mull over this year's sharp rise in stocks, and they took some money off the table. But with Thursday's core PPI arriving in line with most economists' estimates and bond yields retreating from multiyear records, Wall Street decided to jump back into stocks.

"The aggregate of all the statistics of the last month, except those related to homebuilding, has pointed to a stronger economy," said John Merrill, chief investment officer of Tanglewood Capital Management in Houston.

Merrill added that although high yields are seen as unfavorable because they slow down corporate dealmaking, it's important to note that the 10-year Treasury yield's jump over the past two weeks has helped long-term yields exceed short-term yields. Over the past several months, short-term yields were flat with or higher than long-term yields -- an unusual pattern that implies the economy is headed for a slowdown or recession. A return to normalcy in the bond market is a positive sign that the economy is on the upswing.

Takeover activity appears to be chugging along, despite the recent rise in rates. Chicago Mercantile Exchange Holdings Inc. Thursday offered to pay a special dividend of $485 million to CBOT Holdings Inc. shareholders in addition to its $10.19 billion takeover offer. CBOT, the parent company of the Chicago Board of Trade, gained $3.31 to $204.81, and CME fell $3.76 to $547.49.

Meanwhile, investment bank Goldman Sachs Group Inc. said second-quarter earnings rose on investment banking revenue, but a slowdown in its mortgage business capped profits. The stock dipped $7.89, or 3.4 percent, to $225.75.

Bear Stearns Cos. reported weaker-than-expected second-quarter earnings, also citing mortgage lending troubles. The stock rose 11 cents to $149.60.

The Russell 2000 index of smaller companies climbed 4.58, or 0.55 percent, to 837.12.

Advancing issues outnumbered decliners by nearly 2 to 1 on the New York Stock Exchange, where consolidated volume came to 2.80 billion shares, down from 3.02 billion Wednesday.


----------



## bigdog

The NYSE DOW closed HIGHER by 85 points on Friday June 15:

Symbol ----- Last --- Change
Dow 13,639.48  +85.76 (0.63%) 
Nasdaq 2,626.71  +27.30 (1.05%) 
S&P 500 1,532.91  +9.94 (0.65%) 
10-Yr Bond 5.1710%   -0.0460 
NYSE Volume 3,380,907,000 
Nasdaq Volume 2,554,236,000

Overseas, 
Japan's Nikkei stock average rose 0.72 percent. In Europe, Britain's FTSE 100 rose 1.24 percent, Germany's DAX index rose 2.31 percent, and France's CAC-40 rose 0.96 percent.

http://biz.yahoo.com/ap/070615/wall_street.html?.v=51
Stocks Surge, Dow Jumps Almost 86 Points
Friday June 15, 5:16 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Move Sharply Higher Following Tame Core Inflation Reading 

NEW YORK (AP) -- Wall Street barreled higher again Friday after the week's most anticipated economic reading indicated that inflation excluding the price of gas remained tepid last month, easing some concerns that have jolted stock and bond markets in recent sessions.

The Dow Jones industrial average in the past three days has surged more than 344 points, the biggest three-day point gain since November 2004. The blue-chip index is now less than 40 points below its record close reached June 4.

The three major stock indexes finished the week higher, even as Friday's consumer price index showed prices rose at the fastest pace in 20 months in May as the cost of gas jumped. Investors were enthusiastic that the core CPI, which excludes food and energy prices, rose 0.1 percent. The figure, which the inflation-wary Federal Reserve watches closely, was below the 0.2 percent increase Wall Street expected.

The yield on the benchmark 10-year Treasury note fell to 5.16 percent Friday from 5.23 percent late Thursday after release of the CPI report helped ease concerns that the Fed might raise interest rates this year.

The notion of a rate hike gained traction last week when inflation concerns sent the yield on the 10-year note above 5 percent for the first time since last summer. Subsequent spikes in bond yields, which move in the opposite direction as prices, roiled stock markets last week and early this week.

"Today's numbers showed us that the little spook we had last week and earlier this week was misplaced," said Rob Lutts, president and chief investment officer at Cabot Money Management Inc.

The Dow jumped 85.76, or 0.63 percent, to 13,639.48.

Broader stock indicators also rose Friday. The Standard & Poor's 500 index rose 9.94, or 0.65 percent, to 1,532.91, moving near its record close of 1,539.18, hit June 4.

The Nasdaq composite index, still well off its record levels reached during the dot-com boom, rose 27.30, or 1.05 percent, to 2,626.71.

For the week, the Dow rose 1.60 percent, the S&P 500 index rose 1.67 percent, and the Nasdaq composite index gained 2.07 percent. The S&P 500 and the Nasdaq more than offset their losses of last week, while the Dow regained nearly all the ground it had lost.

The dollar was mixed against other major currencies Friday, while gold prices rose.

Lutts contended that concerns about inflation have been overblown and that increased trade and further intertwining of world economies will stave off major spikes in prices.

"What you're getting is a contribution of hundreds of millions of lower-cost workers coming into our economy. It's very positive for all economic activity," Lutts said.

Among other economic news, the Fed reported industrial production remained flat following a 0.4 percent jump in April. A slowdown had been expected amid a drop in output by utilities in May as weather proved milder than in April.

A reading on the current account deficit, which reflects not only trade in goods and services but also investment flows between countries, showed an increase as oil prices climbed. The Commerce Department said the imbalance in the current account increased 2.5 percent to $192.6 billion in the January-to-March period, compared with $187.9 billion in the fourth quarter. The increase was slightly below what analysts had been expecting.

Amid its enthusiasm over the week's inflation readings, Wall Street looked past a preliminary Reuters/University of Michigan reading on June consumer sentiment that showed the public was not as upbeat as last month.

Inflation worries have abated despite rising energy prices. Light, sweet crude rose 35 cents to $68.00 a barrel on the New York Mercantile Exchange, its highest close since September.

"Although everybody says the proportion of a person's pay that goes to transportation and gas costs has been declining, we still think people feel the pinch of that in their wallets," said Kim Caughey, equity research analyst at Fort Pitt Capital Group, Pittsburgh. "We are still concerned about inflation."

In corporate news, Goldman Sachs raised its rating on chip maker Intel to "buy" from "neutral," saying an increase in outsourcing by rival Advanced Micro Devices Inc. could benefit Intel. Intel rose $1.01, or 4.4 percent, to $24.24, making it the biggest gainer among the 30 Dow components. AMD slipped 15 cents to $13.63.

Penn National Gaming Inc. jumped $10.98, or 21.5 percent, to $62.12 after the racetrack and casino operator agreed to be acquired by two investment companies in $6.1 billion cash deal. Fortress Investment Group LLC and Centerbridge Partners LP will also assume about $2.8 billion of the company's debt.

Monsanto Co. jumped $1.55, or 2.5 percent, to $64.86 after the world's largest seed company raised its full-year earnings forecast.

Gun maker Smith & Wesson Holding Corp. rose $1.24, or 8.3 percent, to $16.15 after reporting stronger-than-expected fiscal fourth-quarter profit and sales, and raising its full-year forecasts.

Advancing issues outnumbered decliners by about 4 to 1 on the New York Stock Exchange, where volume came to 2.04 billion shares, up from 1.45 billion Thursday. Volume was inflated somewhat by the quarterly expiration of stock options, what's known as a quadruple witching day.

The Russell 2000 index of smaller companies rose 11.07, or 1.32 percent, to 848.19.

Overseas, Japan's Nikkei stock average rose 0.72 percent. In Europe, Britain's FTSE 100 rose 1.24 percent, Germany's DAX index rose 2.31 percent, and France's CAC-40 rose 0.96 percent.


----------



## bigdog

The NYSE DOW closed LOWER by 26 points on Monday June 18:

Symbol ----- Last --- Change
Dow 13,612.98  -26.50 (0.19%) 
Nasdaq 2,626.60  -0.11 (0.00%) 
S&P 500 1,531.05  -1.86 (0.12%) 
10-Yr Bond 5.1420%   -0.0290 
NYSE Volume 2,480,241,000 
Nasdaq Volume 1,803,344,000 

Overseas
Japan's Nikkei stock average closed up 0.99 percent, while stocks in Hong Kong gained 2.69 percent and the sometimes-volatile Shanghai Composite index rose 2.9 percent. Britain's FTSE 100 slipped 0.43 percent, Germany's DAX index rose 0.07 percent, and France's CAC-40 fell 0.30 percent.


http://biz.yahoo.com/ap/070618/wall_street.html?.v=42
Wall Street Snaps 3-Day Gains
Monday June 18, 5:46 pm ET 
By Joe Bel Bruno, AP Business Writer  
Stocks Little Changed, As Volatile Bond Yields Offset More Takeover News 

NEW YORK (AP) -- Wall Street edged lower Monday after three days of solid gains as investors watched Treasury bond yields fluctuate amid lingering questions about inflation.

The market appeared to be taking a break after last week's sharp rally, when tame inflation data pushed the Dow Jones industrial average to its biggest three-day point gain since November 2004. With little significant economic data due at the start of the week, investors were left searching for a catalyst to extend the rally.

Treasury yields have moved higher over the past few weeks on concerns that inflation is stubbornly high and the economy is rebounding, trends that make it unlikely the Federal Reserve will lower interest rates. The yield on the benchmark 10-year Treasury note traded as high as 5.18 percent Monday before closing at 5.15 percent, just below Friday's 5.16 percent.

"There's a very strong correlation between yields and the stock market these days, and that will likely be the case until investors get more comfortable," said Mike Malone, trading analyst at Cowen & Co.

Investors were somewhat encouraged by a fresh round of acquisition news in a year that so far is on a record-setting pace. Alcoa Inc., the world's second-biggest aluminum producer, jumped on talk it might again be the target of a takeover bid by Australian mining company BHP Billiton Ltd. Meanwhile, General Electric Co. and Pearson PLC is said to be mulling a joint $5 billion bid for Dow Jones & Co.

The Dow fell 26.50, or 0.19 percent, to 13,612.98.

Broader stock indicators were also slightly lower. The Standard & Poor's 500 index fell 1.86, or 0.12 percent, to 1,531.05, and the Nasdaq composite index fell 0.11, or less than 0.01 percent, to 2,626.60.

Oil prices continued its march higher, with a barrel of light sweet crude settling up $1.09 at $69.09. Energy prices have rallied in recent weeks on speculation refiners might not have enough supply to meet summer demand. The dollar was mixed against other major currencies, while gold prices rose.

A downbeat report on the housing market from the National Association of Home Builders added to the sluggish tone on Wall Street Monday. The group's home builder sentiment index dropped to 28 from 30 in May, and analysts had expected it to remain unchanged. The report precedes the release of housing data Tuesday from the Commerce Department.

Aside from recent housing market snapshots, most economic data have been coming in strong, and last week's inflation gauges showed milder-than-anticipated upticks in costs once food and energy prices were stripped out.

"To me, it's amazing there's still people looking for what's wrong with a good economy," said Philip S. Dow, managing director of equity strategy at RBC Dain Rauscher in Minneapolis, noting that Treasury yields surged largely because of better-than-expected economic data. "It's kind of an abrupt change, but all in all, in reality, interest rates are relatively low by historic standards."

In corporate news, Alcoa rose 28 cents to $41.88 after The Times of London said BHP Billiton is considering another bid for the aluminum producer. BHP Billiton considered a bid in February but dropped the idea, while Alcoa is still trying to buy Canadian rival Alcan Inc. for $28.4 billion.

Alcan gained 70 cents to $83.55.

Dow Jones rose 2 cents to $59.03 after a report in The Wall Street Journal that GE and Financial Times publisher Pearson PLC are in talks about a potential rival bid. Dow Jones controlling Bancroft family is currently considering an offer made by Rupert Murdoch's News Corp.

Pearson fell 8 cents to $17.13, while GE shed 5 cents to $38.07. News Corp. fell 34 cents to $23.62.

Boeing Co. fell 75 cents to $97.40 as the aerospace powerhouse showcased its products at the annual Paris Air Show. The company has already secured a few smaller deals for its jets, while rival Airbus won orders from Middle Eastern airlines.

After the closing bell, Yahoo Inc. said co-founder Jerry Yang will replace Terry Semel as chief executive in the latest bid by the Internet portal to regain investor confidence. Semel will take the position of non-executive chairman and serve as an adviser to the company's management team. Yahoo rose 81 cents, or 3 percent, to close at $28.12, then rose another $1.40, or 5 percent, to $29.52 in after-hours trading.

The Russell 2000 index of smaller companies fell 1.91, or 0.23 percent, to 846.28.

Declining issues narrowly led advancers on the New York Stock Exchange, where consolidated volume came to 2.45 billion shares, down from 3.39 billion on Friday, when volume was swelled by the quarterly expiration of stock options.

Overseas, Japan's Nikkei stock average closed up 0.99 percent, while stocks in Hong Kong gained 2.69 percent and the sometimes-volatile Shanghai Composite index rose 2.9 percent. Britain's FTSE 100 slipped 0.43 percent, Germany's DAX index rose 0.07 percent, and France's CAC-40 fell 0.30 percent.


----------



## bigdog

The NYSE DOW closed HIGHER by 22 points on Tuesday June 19:

Symbol ----- Last --- Change
Dow 13,635.42  +22.44 (0.16%) 
Nasdaq 2,626.76  +0.16 (0.01%) 
S&P 500 1,533.70  +2.65 (0.17%) 
10-Yr Bond 5.0860%   -0.0560 
NYSE Volume 2,879,157,000 
Nasdaq Volume 1,954,203,000 

Overseas
Japan's Nikkei stock average rose 0.08 percent. Britain's FTSE 100 fell 0.80 percent, Germany's DAX index fell 0.03 percent, and France's CAC-40 slipped 0.25 percent.

http://biz.yahoo.com/ap/070619/wall_street.html?.v=53
Stocks Rise As Bond Yields Dip
Tuesday June 19, 6:57 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Manage Modest Gain Despite Best Buy Warning, Home Construction Report 


NEW YORK (AP) -- Wall Street eked out small gains Tuesday, as investors found solace in declining Treasury yields but remained subdued after Best Buy Co.'s lackluster profit forecast and a drop in new home construction.

The 10-year Treasury note's yield, which hit five-year highs last week, fell to 5.09 percent from 5.14 percent late Monday -- alleviating some worries about high rates slowing down corporate dealmaking and hurting the already sluggish housing market.

Also lifting the stock market was a rise in General Electric Co.'s stock, after its unit GE Energy Financial Services bought a stake in Regency Energy Partners LP, a natural gas processor and distributor, from HM Capital Partners LLC for $603 million.

The major stock indexes wavered throughout the day on concerns about flagging consumer spending when electronics chain Best Buy lowered its fiscal 2008 profit forecast, and after Commerce Department data showed construction of new homes and apartments fell 2.1 percent last month. The dip, which followed small increases in April and March, was expected and came alongside a 3 percent rise in May permit applications.

Economic data has at turns upended and supported the market in recent weeks as investors try to feel their way forward while juggling concerns about inflation, interest rates, the housing sector and the overall economy.

"After having a full plate of information to digest last week, we don't have a lot of new incremental news. Today's housing starts was not startling in either direction," said Alan Gayle, senior investment strategist and director of asset allocation for Trusco Capital Management. "What's encouraging is the sanity that's returned to the bond market."

The Dow Jones industrial average rose 22.44, or 0.16 percent, to 13,635.42. The blue-chip index was buoyed largely by GE, which rose $1.22, or 3.2 percent, to $39.29.

Broader stock indicators also edged higher. The Standard & Poor's 500 index rose 2.65, or 0.17 percent, to 1,533.70, and the Nasdaq composite index rose 0.16, or 0.01 percent, to 2,626.76.

Bonds rose after the weak housing data. While Wall Street has largely tried to look past weakness in the housing market as old news, any sign that the fallout isn't contained and could taint other areas of the economy could alarm investors.

The dollar, which had strengthened in recent weeks as bond yields advanced, was lower against other major currencies. Gold prices rose.

Analysts said the stock market's small back-and-forth moves Tuesday were to be expected after its big advance last week, when relief over inflation and interest rates sent stocks soaring and gave the Dow its biggest three-day point gain since November 2004.

"We're taking a very normal time-out to refresh. One of the best ways to gauge a market is to see how it reacts when you have profit-taking. It shows that the mettle of the market is still quite positive, that there is still money on the sideline that wants in," said Al Goldman, chief market strategist at A.G. Edwards.

Going forward, the stock market will be focusing more on individual company news and pre-announcements ahead of July's second-quarter profit reports.

"It looks like investors have lowered their expectations for second-quarter earnings growth ... Companies will have a fairly low bar to step over when they start reporting next month," Gayle said.

Best Buy reported its fiscal first-quarter earnings fell 18 percent amid weak profits in China and increased sales of lower-margin products such as notebook computers. The stock fell $2.83, or 5.9 percent, to $45.18.

Airline stocks lifted after an analyst upgrade of US Airways Group Inc. and an announcement from United Airlines that it is hiring pilots for the first time since 2001.

US Airways rose $1.85, or 6.8 percent, to $29.14.

UAL Corp., the parent company of United Airlines, rose $2.60, or 7.4 percent, to $37.93. Other airlines followed, with Continental Airlines Inc. rising 90 cents, or 2.7 percent, to $33.80; and AMR Corp. climbing 73 cents, or 2.9 percent, to $26.29.

Advancing issues outnumbered decliners by about 5 to 3 on the New York Stock Exchange, where consolidated volume came to 2.80 billion shares, up from 2.45 billion Monday.

The Russell 2000 index of smaller companies rose 2.06, or less than 0.24 percent, to 848.34.

Overseas, Japan's Nikkei stock average rose 0.08 percent. Britain's FTSE 100 fell 0.80 percent, Germany's DAX index fell 0.03 percent, and France's CAC-40 slipped 0.25 percent.


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## bigdog

The NYSE DOW closed LOWER by 146 points on Wednesday June 20:

Symbol ----- Last --- Change
Dow 13,489.42  -146.00 (1.07%) 
Nasdaq 2,599.96  -26.80 (1.02%) 
S&P 500 1,512.84  -20.86 (1.36%) 
10-Yr Bond 5.1230%   +0.0370 
NYSE Volume 3,301,054,000 
Nasdaq Volume 2,038,316,000 

Overseas
Germany's DAX index rose 0.71 percent to an all-time high, its first record close since March 7, 2000. Japan's Nikkei stock average rose 0.26 percent, Britain's FTSE 100 slipped 0.01 percent, and France's CAC-40 rose 0.36 percent.

http://biz.yahoo.com/ap/070620/wall_street.html?.v=54
Stocks Plummet on Soaring Bond Yields
Wednesday June 20, 7:10 pm ET 
By Madlen Read, AP Business Writer  
Stocks Fall As Soaring Bond Yields Rekindle Interest Rate Fears 

NEW YORK (AP) -- A surge in Treasury yields rattled Wall Street Wednesday, forcing stocks to give up early gains and drive down the Dow Jones industrial average more than 140 points.

The 10-year Treasury note's yield soared to 5.15 percent late Wednesday from 5.09 percent late Tuesday, reigniting worries among stock investors that high rates could thwart corporate deal-making and further injure the limping housing market.

The stock market started reacting violently to Treasury yields two weeks ago when the 10-year yield surged past 5 percent for the first time since last summer. Wall Street had traded more mildly in recent days as yields retreated from last week's peak of nearly 5.30 percent, but Wednesday's yield advance stoked fears that they could resume their climb.

"People are watching this 10-year, and it looks like it might want to go back to 5.25," said Todd Leone, managing director of equity trading at Cowen & Co. Until last week, the 10-year Treasury yield had not traded consistently above 5.25 percent since 2002.

Furthermore, Leone said, the private equity deal-making wave, which was a main driver for the market for several weeks, seems to have slowed down a bit compared to last month. "The guys are doing a little more homework, and there aren't as many companies to grab up."

Home Depot's $22.5 billion buyback Wednesday initially lent some support to the market, as did stronger-than-expected quarterly earnings from Morgan Stanley and a retreat in oil prices. But the market eventually caved, after investors decided the positive news wasn't enough to warrant a return to record territory.

Troubles at two of Bear Stearns Cos.' hedge funds also weighed on the markets, especially financial firms: Bear Stearns, JPMorgan Chase & Co. and Merrill Lynch & Co. all fell more than 2 percent.

The Dow fell 146.00, or 1.07 percent, to 13,489.42, after bobbing in and out of positive and negative territory earlier in the day.

Broader stock indicators also tumbled. The Standard & Poor's 500 index declined 20.86, or 1.36 percent, to 1,512.84, and the Nasdaq composite index fell 26.80, or 1.02 percent, to 2,599.96.

Home Depot, one of the 30 Dow components, rose $1.76, or 4.6 percent, to $40.03 after announcing it will buy back more than a quarter of its shares and sell its Home Depot Supply business to a group of private equity firms for $10.3 billion. The decisions are not only likely to increase the retailer's profit, they also bolster the idea that stocks, despite their big run-up this year, have further to climb. Cutting the number of shares outstanding typically lifts a company's stock price, because less stock on the market raises the value of each share, and it makes key ratios such as earnings per share look stronger.

Another positive piece of news was FedEx Corp.'s report that its fiscal fourth-quarter profit rose 7 percent, boosted by an 8 percent increase in revenue and higher package volumes. FedEx rose $1.74 to $109.80.

Morgan Stanley also posted a strong rise in quarterly profit, but the second-largest U.S. investment bank turned lower by 48 cents to $87.32 as rest of the financial sector wilted.

In other corporate news, Nuveen Investments Inc. rose $8.98, or 16.6 percent, to $63.14, after the investment manager said it agreed to be acquired by a private equity group led by Madison Dearborn Partners LLC for $5.42 billion in cash.

But in a sign that takeover activity might be cooling, billionaire Kirk Kerkorian's investment arm said it was ending discussions to potentially buy MGM Mirage's Bellagio hotel-casino and CityCenter project. The casino operator fell $5.90, or 7.1 percent, to $80.38.

Wednesday was light on economic data, but Thursday will bring the Labor Department's weekly jobless claims report, the Conference Board's index of leading economic indicators and the Philadelphia Federal Reserve's June index of business activity. The reports have the potential to move the Treasury markets.

Last week, applications for home loans fell 3.4 percent as mortgage rates -- closely tied to the 10-year Treasury yield -- increased, the Mortgage Bankers Association said Wednesday.

Larry Peruzzi, senior equity trader at The Boston Company Asset Management, noted that while high yields are worrisome, the yield curve is more normal now, which should be positive for stocks going forward.

The yield curve is the difference between short-term yields and long-term yields; the rise in long-term bond yields has made the relationship more typical, rewarding long-term risk with higher returns. The pattern now suggests "steady growth -- not spectacular, but somewhat steady," said Peruzzi. Before, the yield curve had pointed to a slowdown in growth.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude oil futures dipped 91 cents to $68.19 a barrel on the New York Mercantile Exchange, and gasoline futures also retreated. The government said Wednesday in its weekly inventory report that crude oil stockpiles rose 6.9 million barrels last week and gasoline stockpiles rose 1.8 million barrels.

Declining issues outnumbered advancers by more than 3 to 1 on the New York Stock Exchange, where consolidated volume came to 3.22 billion shares, up from 2.80 billion Tuesday.

The Russell 2000 index of smaller companies fell 12.16, or 1.43 percent, to 836.18.

Overseas, Germany's DAX index rose 0.71 percent to an all-time high, its first record close since March 7, 2000. Japan's Nikkei stock average rose 0.26 percent, Britain's FTSE 100 slipped 0.01 percent, and France's CAC-40 rose 0.36 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 56 points on Thursday June 21:

Symbol ----- Last --- Change
Dow 13,545.84  +56.42 (0.42%) 
Nasdaq 2,616.96  +17.00 (0.65%) 
S&P 500 1,522.19  +9.35 (0.62%) 
10-Yr Bond 5.1630%   +0.0400 
NYSE Volume 3,206,845,000 
Nasdaq Volume 2,086,738,000 

Overseas
Japan's Nikkei stock average closed up 0.16 percent. Britain's FTSE 100 fell 0.80 percent, Germany's DAX index fell 1.55 percent, and France's CAC-40 lost 1.04 percent.

http://biz.yahoo.com/ap/070621/wall_street.html?.v=53
Stocks Rise After Strong Economic Data
Thursday June 21, 6:05 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Rise Following Upbeat Economic Data, Drop in Oil Prices 

NEW YORK (AP) -- Stocks lurched higher after a back-and-forth session Thursday as investors apparently set aside some interest rate concerns and took a dose of upbeat economic data at face value.

The Philadelphia Federal Reserve said regional manufacturing in June has had its strongest growth since April 2005. The bank's index of regional manufacturing activity jumped to 18 from 4.2 in May. But the report had little effect on the market although investors have been wary about any signs of economic strength that might lead the Federal Reserve to raise interest rates when its Open Market Committee meets next week.

Investors, looking for a reason to buy back into the market, briefly pushed away their rate concerns, even though the yield on the benchmark 10-year Treasury rose to 5.20 percent from 5.15 late Wednesday.

Oil, which had advanced amid concerns about a general strike in Nigeria, Africa's largest crude oil producer, reversed course Thursday. Light, sweet crude fell 21 cents to $68.65 per barrel on the New York Mercantile Exchange after nearing $70 early Thursday.

"Things on a fundamental basis haven't changed all that much. The market just gets excited one way or the other," said Tom Higgins, chief economist at Payden & Rygel Investment Management, referring to even slight shifts, for example, in bond yields.

"Now that things have stabilized, although we're at a higher level the market can move higher for the year, but there's going to be higher volatility along the way."

The Dow Jones industrial average rose 56.42, or 0.42 percent, to 13,545.84 after dropping 146 points Wednesday.

Broader stock indicators also rose. The Standard & Poor's 500 index rose 9.35, or 0.62 percent, to 1,522.19 and the Nasdaq composite index advanced 17.00, or 0.65 percent, to 2,616.96.

The dollar was mixed against other major currencies, while gold prices fell.

Recent weeks have proven relatively volatile on Wall Street after months-long periods of generally steady advances. Comments this month from Fed Chairman Ben Bernanke and inflation concerns furthered the notion that the central bank wasn't likely to cut interest rates this year as some observers had predicted and could possibly even raise rates.

Investor concerns sent the yield on the 10-year note above 5 percent this month for the first time since last summer. Subsequent spikes in yields, which move inversely to bond prices, have at times rattled stock markets. Since then, as yields receded stocks have logged sharp -- if temporary -- gains, such as those from the final three days of last week when the Dow surged more than 344 points.

Also Thursday, the American Stock Exchange resumed trading of stocks and exchange traded funds in the afternoon after the exchange resolved technical problems that had forced it to halt trading earlier in the day.

Among other economic data investors were considering was a weekly Labor Department report showing the number of workers seeking jobless benefits rose by 10,000 last week to a two-month high, marking the third straight weekly gain. While the increase wasn't large, the movement could suggest unemployment isn't quite as low as it had been. Wall Street might regard the report as good news, however, because overall unemployment remains quite low and wage inflation could result if employers have to fight for workers.

The Conference Board's May index of leading economic indicators predicted the U.S. economy will expand modestly in the coming months.

The economic readings come amid a quiet week for news about the economy. There are also only a handful of quarterly results from companies. Corporate earnings reports will begin flowing in earnest in several weeks and Wall Street is accustomed to receiving profit forecasts around this time. Investors are hoping a parade of strong earnings might continue and provide adequate fodder to send stocks higher after a largely uninterrupted, 11-month rally.

"The market is kind of in a wait-and-see mode," said J. Bryant Evans, a portfolio manager at Cozad Asset Management. "When we hear from the Fed again the market will probably move one way or the other."

In corporate news, coffee chain Starbucks Corp. fell $1.06, or 3.9 percent, to $26.26 after warning that reaching the top end of its fiscal 2007 earnings forecast could prove challenging, in part because of high dairy costs.

H&R Block Inc. fell 74 cents, or 3.3 percent, to $22.04 after reporting it swung to a fourth-quarter loss amid continuing troubles in its mortgage lending arm. Difficulties there outweighed higher revenue from the company's tax and financial-services businesses.

Eyewear maker Luxottica Group SpA rose $3.18, or 9.1 percent, to $38.02 after agreeing to acquire rival Oakley Inc. for $2.1 billion. Oakley jumped $3.22, or 13 percent, to $23.45.

Andersons Inc., an ethanol and grain producer, rose $5.10, or 13 percent, to $45.50 after the company raised its full-year profit forecast following a strong second-quarter performance from its agricultural businesses. The company also began producing ethanol from a second plant and has seen better-than-expected margins.

Advancing issues outpaced decliners by about 9 to 7 on the New York Stock Exchange, where consolidated volume came to 3.10 billion shares, down from 3.22 billion Wednesday.

The Russell 2000 index of smaller companies rose 3.63, or 0.43 percent, to 839.81.

Overseas, Japan's Nikkei stock average closed up 0.16 percent. Britain's FTSE 100 fell 0.80 percent, Germany's DAX index fell 1.55 percent, and France's CAC-40 lost 1.04 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 185 points on Friday June 22:

Symbol ----- Last --- Change
Dow 13,360.26  -185.58 (1.37%) 
Nasdaq 2,588.96  -28.00 (1.07%) 
S&P 500 1,502.56  -19.63 (1.29%) 
10-Yr Bond 5.1380%   -0.0250 
NYSE Volume 10,297,000 
Nasdaq Volume 3,921,741,000 

Overseas
Japan's Nikkei stock average fell 0.28 percent, while the sometimes-volatile Shanghai Composite Exchange fell 3.3 percent. Britain's FTSE 100 fell 0.43 percent, Germany's DAX index fell 0.19 percent, and France's CAC-40 fell 0.11 percent.

http://biz.yahoo.com/ap/070622/wall_street.html?.v=43
Stocks End Lower on Investor Worries
Friday June 22, 9:14 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Fall Sharply As Subprime Problems, Inflation, Rising Oil Stir Investor Concerns 

NEW YORK (AP) -- Wall Street ended a volatile week with a sharp decline Friday as investors again succumbed to nervousness about souring subprime loans and rising interest rates. The Dow Jones industrial average fell more than 185 points.

The steep pullback coming a day after a respectable gain was characteristic of the erratic sessions Wall Street has endured in recent weeks as it dealt with concerns ranging from interest rates to the health of hedge funds to, more recently, the prospects of unfavorable legislation from Washington.

Friday's session, unusually devoid of economic or earnings data, began with a focus on the initial public offering of a stake in the management arm of Blackstone Group LP. The most talked-about IPO since Google Inc. went public saw the buyout shop's stock open well above the $31 a share at which it had been priced late Thursday. The stock rose $4.15, or 13.4 percent, to $35.15. Enthusiasm over Blackstone wasn't broad enough to prop up the markets, however.

The Dow fell 185.58, or 1.37 percent, to 13,360.26. On Thursday, stocks had fluctuated before ending higher, with the Dow recovering 56 points following a 146-point tumble on Wednesday.

Broader stock indicators also dropped sharply Friday. The Standard & Poor's 500 index fell 19.63, or 1.29 percent, to 1,502.56, and the Nasdaq composite index fell 28.00, or 1.07 percent, to 2,588.96.

The week was a rough one on the stock market. The Dow lost 2.1 percent, while the S&P 500 fell 2 percent and Nasdaq lost 1.4 percent.

Stocks, which had risen in the past 13 Fridays, lost ground even as bond yields fell. The yield on the benchmark 10-year Treasury note fell to 5.14 percent from 5.20 percent late Thursday. The dollar fell against most other major currencies, while gold prices rose.

Light, sweet crude rose 49 cents to $69.14 per barrel on the New York Mercantile Exchange.

Investors have been grappling with concerns about whether the economy will heat up and prompt the Federal Reserve to put off cutting, or perhaps even raising, interest rates. Also, concerns about the health of Bear Stearns hedge funds involved with subprime loans, those made to people with poor credit, have weighed on the markets.

In addition, news from Washington has shown some lawmakers are impatient with some of the vast sums Wall Street investors have generated and could look to tamp down big payouts with higher taxes. Several House Democrats on Friday proposed an increase to the taxes paid by those who manage hedge funds and private-equity companies.

Bill Schultz, chief investment officer at McQueen, Ball & Associates, contends the pullback in stocks isn't unexpected given the sizable gains Wall Street has seen. Even with Friday's losses, the Dow is up 7.2 percent for the year, while the S&P 500 is higher by 5.9 percent and the Nasdaq is up 7.2 percent.

"There's a point where you need to see a pause before people get excited again. Do you commit at this point or do you wait for a pullback? There's a sense that maybe we may be a little bit overextended here," he said.

Friday's session brought added volatility for some stocks as the Russell indexes implemented changes, adding and subtracting some names. The changes can stir some unusual trading activity as investments that track the index try to square their holdings with the latest look of an index.

The Russell 2000 index of smaller companies fell 5.06, or 0.60 percent, to 834.75.

Neil Massa, senior trader at MFC Global Investment Management, contends stocks were showing volatility Friday in part because of the rebalancing of the Russell indexes. Even the moves among some smallcap companies can affect larger stocks, he said, as investors jockey for positions.

"I think it spills over and I think this is a little healthy pullback from the highs we've been seeing," he said.

The session comes ahead of a busy week in which the Federal Reserve meets and in which investors will receive several readings on the housing sector and the final report on economic growth in the first quarter with release of the gross domestic product.

In corporate news, Jabil Circuit Inc., a contract electronics manufacturer, rose $1.93, or 9.1 percent, to $23.13 after its fiscal third-quarter profit excluding items such as restructuring costs topped Wall Street's estimate.

Cognos Inc., a software maker and technology consultant, forecast a fiscal second-quarter profit that fell short of Wall Street's expectations. The stock fell 52 cents to $39.10.

Taser International Inc., the stungun maker, rose 80 cents, or 6.3 percent, to $13.43 after a court dismissed a lawsuit alleging the company's product resulted in an accidental death.

Declining issues outnumbered advancers by about 3 to 1 on the New York Stock Exchange, where volume came to a heavy 2.62 billion shares, compared with 1.6 billion traded Thursday.

Overseas, Japan's Nikkei stock average fell 0.28 percent, while the sometimes-volatile Shanghai Composite Exchange fell 3.3 percent. Britain's FTSE 100 fell 0.43 percent, Germany's DAX index fell 0.19 percent, and France's CAC-40 fell 0.11 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## Dr.Stock

Thankyou bigdog.
Its just not complete without weetbix, a cup of tea and your morning or evening 'NYSE dow jones finished at......`.
Keep it up, it IS appreciated
regards Stock


----------



## bigdog

Todays Australian
http://www.theaustralian.news.com.au/story/0,20867,21960425-643,00.html

Markets expected to follow Wall St down

June 25, 2007 

THE Australian stock market is expected to open sharply lower today, after Wall Street posted losses and the price of oil continued to climb.

The key culprit for Friday's steep fall in the US was the financial sector, which slumped on worries that hedge fund losses on risky mortgage securities might not be contained, while a general strike in Africa's biggest oil producing nation, Nigeria, sent crude futures upwards.

MFS Investment Management chief investment officer Guy Hutchings said he was expecting a significantly weaker start on the local bourse. 

"I expect the local share market to open significantly weaker on Monday, down about 60 to 70 points, following steep falls on Wall Street at the end of another volatile week for stocks and the bond market," he said. 

The Dow Jones industrial average fell 185.58 points or 1.37per cent to 13,360.26 on Friday. The Standard & Poor's 500 Index dropped 19.63 points, or 1.3 per cent, to 1,502.56 and the Nasdaq Composite Index declined 28.0 points, or 1.07 per cent, to 2588.96. Mr Hutchings also said Australian resource stocks might open lower, on rumours of a tightening of monetary policy by the Chinese government sparking falls on the Shanghai exchange. 

But CommSec chief equities economist Craig James warned against panic over lower base metal prices. "Base metal prices have softened over the past six weeks, but investors must be wary," Mr James said. 

"The same thing happened last year and it proved to be a short-term correction rather than cyclical decline." 

AMP Capital Investors head of investment strategy and chief economist Shane Oliver said that, overall, the bond market-driven correction in shares was now over and the rising trend in share markets would soon restart. "The bull market in shares is alive and well and this is likely to remain the case for some time to come," he said. 

Things to watch out for this week include a decision on US interest rates, with a US Federal Open Market Committee meeting on Thursday, but markets are expecting rates to be left unchanged at 5.25 per cent.


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## bigdog

The NYSE DOW closed LOWER by 8 points on Monday June 25:

Symbol ----- Last --- Change
Dow 13,352.05  -8.21 (0.06%) 
Nasdaq 2,577.08  -11.88 (0.46%) 
S&P 500 1,497.74  -4.82 (0.32%) 
10-Yr Bond 5.0780%   -0.0600 
NYSE Volume 3,287,826,000 
Nasdaq Volume 2,111,292,000 

Overseas
Japan's Nikkei stock average fell 0.56 percent. Britain's FTSE 100 rose 0.32 percent, Germany's DAX index fell 0.24 percent, and France's CAC-40 fell 0.34 percent.

http://biz.yahoo.com/ap/070625/wall_street.html?.v=51
Stocks Lose Ground Ahead of Fed Meeting
Monday June 25, 6:25 pm ET 
By Madlen Read, AP Business Writer  
Stocks Turn Lower After Home Sales Data, Subprime Worries, Oil Price Rebound 

NEW YORK (AP) -- Wall Street gave up a big advance and turned lower Monday as investors suffered a renewed case of the jitters ahead of the Federal Reserve's meeting on interest rates later this week.

The stock market, which has seen huge swings in recent weeks, was initially relieved to hear from the National Association of Realtors that existing home sales declined in May by only 0.3 percent to 5.99 million units. The tepid reading was expected, and indicated that the housing sector is still weak -- the pace of existing home sales was the slowest in four years; housing inventories rose by 5 percent to the highest level since 1992; and the median home price fell for a record 10th consecutive month.

The data wasn't enough to keep the stock market afloat, so when crude oil prices rose back above $69 a barrel on news of U.S. refinery outages, many investors chose to take money off the table. High energy prices could translate to accelerating inflation -- which investors fear the Fed may use as a reason to raise interest rates later in the year. The Fed is scheduled to meet this Wednesday and Thursday.

"Without much of a catalyst right now, profit-taking from that big rise earlier this morning is what we're seeing. The stock market doesn't like uncertainty," said Matt Kelmon, portfolio manager of the Kelmoore Strategy Funds.

He added that Wall Street is growing concerned again about the troubles surrounding subprime lending, or lending to people with poor credit histories. Bear Stearns Cos. said last week that two of its hedge funds nearly collapsed after betting on complex securities backed by subprime mortgages; Bear Stearns' stock fell more than 3 percent Monday.

The Dow Jones industrial average fell 8.21, or 0.06 percent, to 13,352.05, after rising more than 100 points earlier in the day, and falling 185 points on Friday.

Broader stock indexes also declined. The Standard & Poor's 500 index fell 4.82, or 0.32 percent, to 1,497.74, and the Nasdaq composite index lost 11.88, or 0.46 percent, to 2,577.08.

A retreat in Treasury yields failed to calm the stock market Monday. The 10-year Treasury note's yield fell to 5.08 percent from 5.14 percent late Friday, dampened by worries about mortgage-backed securities. If high-risk investments are souring, investors tend to buy up safe-haven Treasury issues.

Soaring yields have played a starring role in the stock market's volatility this month, because higher rates can slow down corporate activity; the 10-year yield's climb above 5 percent knocked the Dow from a record high reached June 4, and since then, stocks have been rising and falling fitfully as investors attempt to determine interest rates' direction.

Last week, the three major indexes posted sizable losses: the Dow dropped 2.1 percent, the S&P declined 2 percent and the Nasdaq dipped 1.4 percent.

Central bankers are widely expected to keep the benchmark rate steady at 5.25 percent Thursday, but Wall Street is unsure if the Fed will alter its stance on inflation, which could mean a rate hike or decrease later in the year.

On Tuesday, investors will be closely reading the Conference Board's June consumer confidence index and the Commerce Department's report on May new homes sales. So far, despite the weak housing market, the economy appears to be on the rebound.

"My sense is consumption is still reigning -- consumer sales are up," said Richard Hoyt, market strategist at KDV Wealth Management, pointing to the Commerce Department's report earlier this month that May retail sales jumped by 1.4 percent.

But even if economic data keep coming in strong, analysts predict high volatility in the stock market ahead of second-quarter earnings season, which begins in earnest in mid-July.

On Monday, the dollar rose against the euro and pound but fell against the yen. Gold prices fell.

Crude oil futures rose 4 cents to settle at $69.18 a barrel on the New York Mercantile Exchange, after falling to $68 a barrel and then rising after news of refinery outages.

Gasoline futures also advanced, reigniting worries that pump prices could bounce back above $3 a gallon. U.S. retail gasoline prices have retreated to an average $2.978 a gallon Monday, below the record high of $3.227 reached in late May, according to AAA and the Oil Price Information Service.

Blackstone Group LP -- the private-equity powerhouse that went public on Friday -- fell $2.62, or 7.5 percent, to $32.44 in its second day of trading. Investors were concerned about valuation of the company, and also speculation that big buyout deals might begin to dry up.

In other corporate news, Rupert Murdoch was said to be near a pact to guarantee editorial independence of The Wall Street Journal if News Corp. acquires Dow Jones & Co., according to newspaper reports Sunday. Dow Jones fell $1.30, or 2.2 percent, to $57.70, while News Corp rose 18 cents to $23.50.

The Russell 2000 index of smaller companies fell 7.29, or 0.87 percent, to 827.46.

Declining issues outnumbered advancers by more than 2 to 1 on the New York Stock Exchange, where consolidated volume came to 3.20 billion shares, down from a heavy 4.08 billion Friday.

Overseas, Japan's Nikkei stock average fell 0.56 percent. Britain's FTSE 100 rose 0.32 percent, Germany's DAX index fell 0.24 percent, and France's CAC-40 fell 0.34 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## >Apocalypto<

bigdog;[/QUOTE said:
			
		

> I wanted to say thank you and well done on your consistent effort in this thread, Cheers
> 
> Joseph


----------



## bigdog

The NYSE DOW closed LOWER by 14 points on Tuesday June 26:

Symbol ----- Last --- Change
Dow 13,337.66  -14.39 (0.11%) 
Nasdaq 2,574.16  -2.92 (0.11%) 
S&P 500 1,492.89  -4.85 (0.32%) 
10-Yr Bond 5.1010%   +0.0230 
NYSE Volume 3,408,893,000 
Nasdaq Volume 2,135,684,000

Overseas, Japan's Nikkei stock average fell 0.12 percent. Britain's FTSE 100 declined 0.44 percent, Germany's DAX index dropped 0.88 percent, and France's CAC-40 lost 0.82 percent.

http://biz.yahoo.com/ap/070626/wall_street.html?.v=47
Stocks Edge Lower As Investors Await Fed
Tuesday June 26, 6:33 pm ET 
By Madlen Read, AP Business Writer  
Overseas, Japan's Nikkei stock average fell 0.12 percent. Britain's FTSE 100 declined 0.44 percent, Germany's DAX index dropped 0.88 percent, and France's CAC-40 lost 0.82 percent.

NEW YORK (AP) -- Wall Street finished an extremely erratic session with a modest decline Tuesday as investors parsed unimpressive data on home sales and consumer confidence and awaited the Federal Reserve's meeting on interest rates.

The Dow Jones industrial average initially slipped, soared nearly 100 points, and ultimately pulled back again -- much as it did Monday, when the blue chip index rose by triple digits only to give up the gains and finish lower.

A slight decline in May new home sales provided investors with some relief, but the report wasn't much to cheer about. The Commerce Department said sales of new homes fell 1.6 percent in May to a seasonally adjusted annual rate of 915,000 units. It was the fourth decline in the past five months -- in April, new home sales had jumped 12.5 percent.

Investors were also jittery about a larger-than-expected drop in the Conference Board's consumer confidence index, ongoing subprime lending troubles, and what the Fed might say when it decides on interest rates Thursday. Wall Street anticipates central bankers will keep the benchmark rate steady at 5.25 percent, but it will be watching for any change in their stance on inflation that could suggest a rate cut or rate hike later in the year.

"There's a lot to keep people busy," said Scott Fullman, director of investment strategy for I. A. Englander & Co. "All of these issues are really coming into play, as we're seeing with the volatility in the market. It's going to go on for a little while longer until the market has a reason to settle down."

The stock market at times drew support from a drop in oil prices and some new takeover activity Tuesday, but they weren't enough to maintain a rally.

The Dow fell 14.39, or 0.11 percent, to 13,337.66.

Broader stock indicators also fell after sacrificing large gains. The Standard & Poor's 500 index slipped 4.85, or 0.32 percent, to 1,492.89, and the Nasdaq composite index fell 2.92, or 0.11 percent, to 2,574.16.

The Dow and the S&P reached record closes June 4 but have been stumbling in recent weeks, after a surge in Treasury yields raised concerns about the Fed's rate policy.

Bonds fell after the home sales data. The yield on the benchmark 10-year Treasury note rose to 5.09 percent from 5.08 percent late Monday.

The dollar was mixed against other major currencies. Gold prices fell.

Overall, the housing market looked dim Tuesday: the Standard & Poor's home price index for April fell for the 17th consecutive month and showed its steepest year-over-year decline since 1991. Also, homebuilder Lennar Corp. posted a loss for the second quarter and warned that a third-quarter loss is likely.

Lennar fell $1.20, or 3.1 percent, to $37.55, and other homebuilders followed.

Some new deal-making news initially gave stocks a lift.

Basell, a division of billionaire investor Leonard Blavatnik's Access Industries, said it will buy rival chemical company Huntsman Corp. in a cash deal worth $5.6 billion. Huntsman soared $5.31, or 28.1 percent, to $24.21.

Investment management company BlackRock Inc. said it is buying the fund of funds division of Quellos Group LLC in a deal worth up to $1.7 billion. BlackRock rose $1.77 to $156.30.

Roche Holding AG made a $3 billion hostile bid for the medical testing products maker Ventana Medical Systems Inc., which surged $24.69, or 47.72 percent, to $76.42.

Late Monday, Spanish power company Iberdrola SA said it plans to buy utility owner Energy East Corp. for $4.5 billion in cash. Energy East surged $3.71, or 16.5 percent, to $26.25.

But the buyout news could not calm Wall Street's skittishness ahead of the Fed meeting.

"The glass is half-empty right now. We've got to wait for the sentiment to change," said John Forelli, portfolio manager for Independence Investment LLC in Boston. "People aren't worried about growth, people aren't worried about earnings -- they're worried about inflation."

Meanwhile, subprime lending woes have re-emerged as a major market concern, after Bear Stearns Cos. said last week it had to bail out a collapsing hedge fund heavily invested in bonds backed by subprime loans. On Tuesday, Securities and Exchange Commission Chairman Christopher Cox said the SEC has opened about a dozen investigations related to complex products in which debt is bundled together.

Subprime worries should be a boon for the safe-haven Treasury bond market, but so far, they haven't been. Treasurys have remained weak, leading many investors to avoid stocks because high rates can slow down business.

"They're worried about the safest asset class out there, U.S. government bonds, and the riskiest asset class out there, subprime loans. It shows the indecision out there among investors right now," Forelli said.

Crude oil futures for August dropped $1.41 to $67.77 a barrel on the New York Mercantile Exchange ahead of the government's weekly inventory report Wednesday.

Declining issues outnumbered advancers by about 5 to 3 on the New York Stock Exchange. Consolidated volume came to 3.26 billion shares, up from 3.20 billion Monday.

The Russell 2000 index of smaller companies fell 1.33, or 0.16 percent, to 826.13.

Overseas, Japan's Nikkei stock average fell 0.12 percent. Britain's FTSE 100 declined 0.44 percent, Germany's DAX index dropped 0.88 percent, and France's CAC-40 lost 0.82 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 90 points on WEdnesday June 27:

Symbol ----- Last --- Change
Dow 13,427.73  +90.07 (0.68%) 
Nasdaq 2,605.35  +31.19 (1.21%) 
S&P 500 1,506.34  +13.45 (0.90%) 
10-Yr Bond 5.0700%   -0.0310 
NYSE Volume 3,398,146,000 
Nasdaq Volume 2,114,350,000

Overseas, Japan's Nikkei stock average fell 1.20 percent, and the sometimes-volatile Shanghai Composite Exchange rose 2.65 percent. Britain's FTSE 100 fell 0.48 percent, Germany's DAX index fell 0.75 percent, and France's CAC-40 fell 0.20 percent.

http://biz.yahoo.com/ap/070627/wall_street.html?.v=56
Stocks Rally Ahead of Fed Rate Decision
Wednesday June 27, 6:06 pm ET 
By Madlen Read, AP Business Writer  
Stocks Rally After Wobbly Day of Trading As Fed Holds 2-Day Meeting 

NEW YORK (AP) -- Wall Street rallied Wednesday, reversing the Dow Jones industrial average's three-day losing streak, but investors still appeared skittish ahead of the Federal Reserve's interest rate decision.

Stocks initially dropped after the Commerce Department said orders for durable goods plunged 2.8 percent in May following three months of increases. Later, the market shrugged off the report and clawed its way back up, boosted by some takeover deals and strong earnings reports, particularly from ConAgra Foods Inc. and software maker Oracle Corp.

Given the market's turbulence over the past few weeks due to soaring bond yields, investors will be looking for any clues in the central bank's statement Thursday about policy makers' views on growth and inflation.

The Fed -- which is expected to keep the benchmark rate steady at 5.25 percent after its two-day meeting ends Thursday -- has stated recently that it expects the economy to recover from a weak first quarter despite difficulties in the housing market, and that inflation remains a paramount concern.

"We'd like to hear a Fed that's much closer to the center, because they're still pretty hawkish. They sound closer to tightening than to easing," said Arthur Hogan, chief market analyst at Jefferies & Co. Rate hikes tend to slow down business and can dampen corporate profits.

The Dow rose 90.07, or 0.68 percent, to 13,427.73, after dropping 77 points earlier in the day. The blue-chip index had lost a total of 208 points in the previous three sessions.

Broader indexes also rose. The Standard & Poor's 500 index gained 13.45, or 0.90 percent, to 1,506.34, and the Nasdaq composite index jumped 31.19, or 1.21 percent, to 2,605.35.

Treasury bond prices finished slightly lower after the weak durable goods data. The 10-year Treasury note's yield slipped to 5.08 percent from 5.09 percent late Tuesday.

On Thursday, all eyes will be on the Fed's statement.

"If they change the statement, people will pick up on that, no doubt. No matter what the change is, people will think it means something," said Janna Sampson, director of portfolio management at Oakbrook Investments.

Much of the choppiness in the market, though, has been from people simply rebalancing their portfolios as the second quarter ends and ahead of the July Fourth holiday week, Sampson added.

"We've got that internally here, people moving money around. We're heading into a pretty quiet week next week -- people are trying to get their houses in order before going on vacation," she said.

The bulk of second-quarter earnings results arrive in mid-July. So far, earnings news has been mostly positive.

Oracle rose 53 cents, or 2.8 percent, to $19.69, after saying late Tuesday that its profit in the most recent quarter rose 23 percent, and that sales in the current quarter could beat estimates.

ConAgra on Wednesday reported a surge in its quarterly profit, despite the ongoing costs of recalling its Peter Pan peanut butter. The company, whose brands include Healthy Choice and Chef Boyardee, saw its stock rise $1.14, or 4.5 percent, to $26.70.

Nike Inc. said late Tuesday that growth in the United States and abroad pushed profit up 32 percent in the most recent quarter compared to the year-ago period. Nike rose $4.47, or 8.3 percent, to $58.29.

Though some investors are concerned that rising bond yields could translate to higher rates and dampen buyout activity, deal-making continued Wednesday.

Guitar Center Inc., the largest U.S. musical instrument retailer, said its board accepted a $1.9 billion cash buyout offer from a private equity firm. Guitar Center soared $9.92, or 19.8 percent, to $59.98.

Meanwhile, banking company People's United Financial Inc. agreed to buy Chittenden Corp., which operates banks in New England, for $1.9 billion in cash and stock. Chittenden rose $6.91, or 24.5 percent, to $35.15, while People's United Financial fell 54 cents, or 2.9 percent, to $18.17.

And CommScope Inc., which supplies coaxial cable and other networking infrastructure, said it is buying cable maker Andrew Corp. for about $2.6 billion. Andrew Corp. rose $1.42, or 10.9 percent, to $14.40, while CommScope rose 71 cents to $55.87.

The Russell 2000 index of smaller companies rose 12.33, or 1.49 percent, to 838.46.

Advancing issues outnumbered decliners by about 3 to 1 on the New York Stock Exchange, where consolidated volume came to 3.35 billion shares, up from 3.26 billion shares Tuesday.

Crude oil futures for August delivery rose $1.20 to $68.97 a barrel on the New York Mercantile Exchange after the government said U.S. gasoline inventories dropped last week.

The dollar was mixed against other major currencies. Gold slipped.

Overseas, Japan's Nikkei stock average fell 1.20 percent, and the sometimes-volatile Shanghai Composite Exchange rose 2.65 percent. Britain's FTSE 100 fell 0.48 percent, Germany's DAX index fell 0.75 percent, and France's CAC-40 fell 0.20 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 5 points on Thursday June 28
-- Nasdaq 2,608.37  +3.points

Symbol ----- Last --- Change
Dow 13,422.28  -5.45 (0.04%)
Nasdaq 2,608.37  +3.02 (0.12%) 
S&P 500 1,505.71  -0.63 (0.04%) 
10-Yr Bond 5.12%   +0.05 
NYSE Volume 3,006,714,000 
Nasdaq Volume 2,015,779,000

Overseas
Japan's Nikkei stock average rose 0.46 percent. Britain's FTSE 100 rose closed up 0.67 percent, Germany's DAX index rose 1.54 percent, and France's CAC-40 rose 1.09 percent.

http://biz.yahoo.com/ap/070628/wall_street.html?.v=51
Stocks End Flat Following Fed Comments
Thursday June 28, 6:22 pm ET 
By Tim Paradis, AP Business Writer  
Stocks End Flat Following Fed Comments on Inflation, Economic Growth 

NEW YORK (AP) -- Stocks finished flat Thursday after the Federal Reserve said the economy appeared to be growing at a "moderate" pace but offered a cautious reading on inflation.

The Dow Jones industrial average, which at one point had been up 70 points after the Fed decision, ended down 5.45, or 0.04 percent, at 13,422.28.

Broader stock indicators finished mixed. The Standard & Poor's 500 index slipped 0.63, or 0.04 percent, to 1,505.71, and the Nasdaq composite index rose 3.02, or 0.12 percent, to 2,608.37.

The central bank, which stood pat on short-term interest rates as had been widely expected, offered investors a relatively unchanged assessment of the economy, saying its primary concern remains the risk that inflation will fail to moderate.

Stocks bounced around as investors tried to interpret the Fed's comment that recent readings on inflation excluding energy and food prices showed some improvement but no pronounced signals of easing.

"They took a middle-of-the-road approach. The Fed said some encouraging things about the future growth rate of the economy," said John Miller, head of fund management for Nuveen Asset Management. "They could have been more negative or more concerned about the meltdown in subprime markets or the potential for housing weakness to spread into consumer spending. The changes in the statement didn't indicate any concerns about those recent events."

He contends, however, that the Fed, which left rates unchanged at 5.25 percent as it has for the past year, was careful to remain guarded about inflation.

"It's a little bit of a hawkish message because they're saying they're not really convinced inflation is decreasing in any meaningful way," he said.

Bonds fell after the Fed comments, with the yield on the benchmark 10-year Treasury note rising to 5.11 percent from 5.08 percent late Wednesday. The dollar was mixed against other major currencies, while gold prices rose.

The modest moves in stocks Thursday follow a rally by all three major indexes in the previous session. Stocks have been turbulent during the past few weeks because of soaring bond yields and concern about the broader effect of faltering subprime loans.

The Fed's comments on so-called core inflation, which excludes often volatile food and energy prices, came as some investors had expected the bank would switch its focus to overall inflation, said Marc Pado, U.S. market strategist at Cantor Fitzgerald. Some inflation readings have been rising because of spikes in energy and food costs. While the Fed often focuses on the core level, Pado noted the overall inflation figure affects the economy because rising prices for gas and food can cut into consumer spending.

Wall Street's focus on the Fed's comments left little room for attention elsewhere; investors appeared unfazed as oil prices spiked above $70 per barrel on the New York Mercantile Exchange for the first time since August, then fell back.

Oil prices began moving up Wednesday after a government report showed an unexpected drop in gasoline inventories. Light, sweet crude rose 60 cents to close at $69.57 on Thursday.

In corporate news, shares of General Motors Corp., one of the 30 stocks that make up the Dow industrials, rose to a two-year high after agreeing to sell its Allison Transmission commercial and military business to an investment conglomerate and a private equity firm. The stock was the best performer in the Dow, rising 74 cents, or 2 percent, to $38.15.

Dillard's Inc. rose $2.76, or 8.1 percent, to $36.69 after an investment group representing minority shareholders said it plans to press the department store chain to boost profits.

Digital River fell $5.67, or 11.2 percent, to $45 after the e-commerce outsourcing company cut its second-quarter and full-year forecasts.

Bed Bath & Beyond Inc. fell $1.47, or 3.9 percent, to $36.09 after the home goods chain lowered its full-year profit target, citing uncertain economic trends.

Novellus Systems Inc., a semiconductor equipment maker, fell $1.01, or 3.4 percent, to $28.89 after warning its second-quarter results would come in at the low end of its forecast amid weakness in the chip market.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where volume came to 1.49 billion shares compared with 1.76 billion traded Wednesday.

The Russell 2000 index of smaller companies rose 0.57, or 0.07 percent, to 839.03.

Overseas, Japan's Nikkei stock average rose 0.46 percent. Britain's FTSE 100 rose closed up 0.67 percent, Germany's DAX index rose 1.54 percent, and France's CAC-40 rose 1.09 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 13 points on Friday June 29

Symbol ----- Last --- Change
Dow 13,408.62  -13.66 (0.10%) 
Nasdaq 2,603.23  -5.14 (0.20%) 
S&P 500 1,503.35  -2.36 (0.16%) 
10-Yr Bond 5.0330%   -0.0850 
NYSE Volume 3,165,412,000 
Nasdaq Volume 2,288,736,000 

Overseas
Japan's Nikkei stock average rose 1.15 percent. Britain's FTSE 100 rose 0.56 percent, Germany's DAX index rose 1.09 percent, and France's CAC-40 rose 0.81 percent.

http://biz.yahoo.com/ap/070629/wall_street.html?.v=43
Stocks Fall on Oil, Subprime Concerns
Friday June 29, 5:48 pm ET 
By Madlen Read, AP Business Writer  
Wall Street Dips As Worries Over Subprime Lending, Oil Prices Offset Upbeat Economic Data 

NEW YORK (AP) -- Stocks slid Friday as investors, securing positions before the second half of the year begins, sold off due to rising oil prices and lingering worries about subprime mortgage lending troubles.

The erratic day capped off a strong second quarter for Wall Street, which pushed the Dow Jones industrial average up more than 1,000 points over the last three months.

The stock market initially rose Friday, encouraged by Commerce Department data that fit well with the Federal Reserve's assessment Thursday that the economy appears to be growing moderately and that inflation, while still a concern, seems to be easing.

Friday's reports said May construction spending rose by the largest amount in nearly 1-1/2 years and consumer spending increased for the second month in a row. The data also indicated that "core" prices, which strip out food and energy, moderated to 1.9 percent over the last 12 months -- the lowest year-over-year rate since 2004.

But the stock market couldn't hold on to gains, as oil prices surged above $70 a barrel and jitters about subprime lending escalated.

"Oil's over $70, and that's going to worry some people," said Brian Gendreau, investment strategist for ING Investment Management. "And there's still a bit of a hangover from all these subprime problems. ... No one really knows the extent to which this is a serious problem or not."

Last week, Bear Stearns & Cos. had to bail out a hedge fund with investments tied to subprime loans. The stock fell nearly 3 percent Friday, and other financial companies followed.

The Dow fell 13.66, or 0.10 percent, to 13,408.62, after swinging dramatically higher and lower over the course of the day. The index rose 1,054.27 points, or 8.53 percent, during the second quarter, and hit its most recent record high on June 4.

Broader stock indicators also dipped Friday. The Standard & Poor's 500 index fell 2.36, or 0.16 percent, to 1,503.35, and the Nasdaq composite index fell 5.14, or 0.20 percent, to 2,603.23.

The S&P rose 82.49 points, or 5.81 percent, in the second quarter, during which it reached record closing levels for the first time since March 2000. The Nasdaq rose 181.59 points, or 7.50 percent.

Bonds rose Friday on heightened fears of terrorist activity in Great Britain. The yield on the benchmark 10-year Treasury note fell to 5.03 percent from 5.11 percent late Thursday. The dollar slipped against most other major currencies. Gold prices edged higher.

Oil futures jumped $1.11 to $70.68 a barrel on the New York Mercantile Exchange. Crude closed above the psychologically important $70 level for the first time this year due to tight U.S. gasoline supplies.

Analysts said Friday's stock market fluctuations were mostly a function of high volatility and end-of-quarter selling.

"I don't read too much into the market on Friday; it's a lot of the same old, same old," said Robert Schaeffer, portfolio manager of the Becker Value Equity Fund. "There's probably some window dressing going on out there, some minor rebalancing, so there's some fluff in the market."

Friday's economic news was positive, overall.

The University of Michigan's monthly index of consumer sentiment slipped in June compared to May by a smaller amount than expected, as did the Chicago Purchasing Manager's Index -- a precursor to the Institute for Supply Management's manufacturing index on Monday. The PMI, which measures Midwest manufacturing activity, also showed a decrease in its prices-paid index, a sign that inflation is easing.

Meanwhile, the U.S. Department of Agriculture said farmers this year planted 92.9 million acres of corn, a 19 percent jump from 2006 and the most corn planted since the last days of World War II.

In corporate news, Apple Inc. released its iPhone to the public. The gadget, which combines the functions of a cell phone, iPod and wireless Web browser, was to go on sale in the United States at Apple and AT&T stores at 6 p.m. Friday in each time zone. Apple rose $1.48 to $122.04.

If the iPhone is a hit, it could cause weakness among other smart phone makers.

Palm Inc. on Thursday posted lower earnings for its latest quarter as sales of its signature Treo phone were offset by a downturn in handheld computers. Palm fell 54 cents, or 3.3 percent, to $16.02.

BlackBerry maker Research in Motion Corp. certainly wasn't suffering, however, after announcing late Thursday a 3-for-1 stock split and a 73 percent surge in first-quarter profit. Research in Motion soared $34.40, or 20.8 percent, to $199.99.

The Russell 2000 index of smaller companies fell 5.33, or 0.64 percent, to 833.70. It rose 4.12 percent in the second quarter.

Declining issues outpaced advancers by about 9 to 7 on the New York Stock Exchange, where consolidated volume came to 3.10 billion shares, up from 2.93 billion shares Thursday.

Overseas, Japan's Nikkei stock average rose 1.15 percent. Britain's FTSE 100 rose 0.56 percent, Germany's DAX index rose 1.09 percent, and France's CAC-40 rose 0.81 percent.

The Dow Jones industrial average ended the week up 48.36, or 0.36 percent, at 13,408.62. The Standard & Poor's 500 index finished up 0.79, or 0.05 percent, at 1,503.35. The Nasdaq composite index ended up 14.27, or 0.55 percent, at 2,603.23.

The Russell 2000 index finished the week down 1.05, or 0.13 percent, at 833.70.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 15,210.65, up 7.33 points for the week. A year ago, the index was at 12,845.77.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 126 points on Monday July 2:

Symbol ----- Last --- Change
Dow 13,535.43  +126.81 (0.95%) 
Nasdaq 2,632.30  +29.07 (1.12%) 
S&P 500 1,519.43  +16.08 (1.07%) 
10-Yr Bond 4.9980%   -0.0350 
NYSE Volume 2,589,076,000 
Nasdaq Volume 1,928,317,000

Overseas
Japan's Nikkei stock average rose 0.04 percent. Britain's FTSE 100 fell 0.26 percent, Germany's DAX index declined 0.61 percent, and France's CAC-40 lost 0.46 percent.

http://biz.yahoo.com/ap/070702/wall_street.html?.v=46
Stocks Rally As Bond Yields Dip
Monday July 2, 5:27 pm ET 
By Madlen Read, AP Business Writer  
Wall Street Rises on Falling Bond Yields, Recovery in Manufacturing 

NEW YORK (AP) -- Wall Street soared Monday in the first day of trading for the third quarter, boosted by a decline in Treasury yields, a rise in June manufacturing activity and a spate of buyout news.

The Dow Jones industrial average gained more than 120 points after the Institute for Supply Management's June manufacturing index came in at 56.0, slightly higher than the market expected and indicating stronger expansion than May's reading of 55.0. The report also showed a decrease in its prices paid index, suggesting inflation pressures lifted a bit last month and easing some of the market's worries about the Federal Reserve's interest rate policy.

Meanwhile, the 10-year Treasury note's yield fell below 5 percent from 5.03 percent late Friday, dampened as investors flocked to the safe-haven assets amid ongoing jitters about subprime lending. In mid-June, Bear Stearns & Cos. had to bail out a hedge fund with investments tied to subprime mortgages.

Investors were also enthusiastic about new takeover activity, involving such targets as Canadian telecommunications company BCE Inc., rural wireless provider Dobson Communications Corp. and British telecommunications company Virgin Media Inc.

"There's favorable economic news and continuing merger talk. That's a pretty good recipe for the market," said Stuart Schweitzer, managing director and global markets strategist for JPMorgan Private Bank. He added, though, that the market has been seesawing in recent weeks and trading volumes are light, so the market's gain should not be interpreted as a turnaround just yet.

"I think the movie's going to end well this year, but there are still going to be some scenes where we'll have to take our eyes away from the screen," Schweitzer said, pointing to persistent sluggishness in the housing market and nervousness over credit problems.

The Dow rose 126.81, or 0.95 percent, to 13,535.43.

Broader stock indicators also rose. The Standard & Poor's 500 index gained 16.08, or 1.07 percent, to 1,519.43, and the Nasdaq composite index jumped 29.07, or 1.12 percent, to 2,632.30.

The combination of retreating yields and reports of fresh buyout activity gave some relief to investors who were worried about business slowing down due to high rates.

"There's a little positive to the subprime woes, that being that interest rates are dropping now," said Steven Goldman, chief market strategist at Weeden & Co. in Greenwich, Conn. The 10-year Treasury note's yield breached the 5 percent level in early June for the first time since last year, hit a peak of nearly 5.30 percent, and have since retreated. High rates can hamper deal making.

BCE rose $1.66, or 4.4 percent, to $39.45 after a $32.6 billion buyout offer over the weekend -- the biggest Canadian takeover ever -- from a consortium led by the Ontario Teachers Pension Plan Board.

The news followed AT&T's announcement Friday that it agreed to buy Dobson for $2.8 billion. Dobson rose $1.31, or 11.8 percent, to $12.40 Monday, while AT&T rose 35 cents to $41.85.

On Monday, Virgin Media confirmed it received a buyout offer, following reports that private equity firm the Carlyle Group bid more than $11 billion for the company. Virgin Media soared $4.30, or 17.6 percent, to $28.67.

The Carlyle Group also made an offer for nursing home chain Manor Care Inc., valued at $4.9 billion. Manor Care slipped $1.19 to $64.10.

Investors appeared unfazed Monday by high oil prices. Crude oil futures on the New York Mercantile Exchange initially fell, but then rebounded to rise 41 cents to $71.09 a barrel -- closing above $71 for the first time in 10 months.

The dollar fell against most other major currencies, while gold prices rose.

Advancing issues outnumbered decliners by about 4 to 1 on the New York Stock Exchange, where volume came to 1.38 billion shares, down from 1.66 billion shares Friday.

Trading volumes are fairly low ahead of the Independence Day holiday on Wednesday, when U.S. stock exchanges will be closed. The markets are also closing early on Tuesday.

Two big pieces of data this week include the ISM's index of the service sector in June, to be released Thursday, and the Labor Department's jobs report, scheduled to come out Friday.

No major earnings reports are scheduled to be released this week, but investors will keep an eye out for profit warnings ahead of the second-quarter earnings season, which starts the third week of July.

The Russell 2000 index of smaller companies rose 11.36, or 1.36 percent, to 845.06.

Overseas, Japan's Nikkei stock average rose 0.04 percent. Britain's FTSE 100 fell 0.26 percent, Germany's DAX index declined 0.61 percent, and France's CAC-40 lost 0.46 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 126 points on Tuesday July 3:
-- NYSE closed early today at 1:00 PM for July 4 holiday and hence volumes down.

Sym -----Last ----Change-----
Dow 13,577.30  +41.87 (0.31%) 
Nasdaq 2,644.95  +12.65 (0.48%) 
S&P 500 1,524.87  +5.44 (0.36%) 
10-Yr Bond 5.0500%   +0.0520 
NYSE Volume 1,560,789,000 
Nasdaq Volume 1,096,143,000 

Overseas
Japan's Nikkei stock average rose 0.02 percent. Britain's FTSE 100 rose 0.75 percent, Germany's DAX index added 1.16 percent, and France's CAC-40 rose 0.71 percent.

http://biz.yahoo.com/ap/070703/wall_street.html?.v=37
Stocks Rise Ahead of Holiday
Tuesday July 3, 6:06 pm ET 
By Madlen Read, AP Business Writer  
Wall Street Rises Moderately on New M&A Activity, Factory Order Data 
NEW YORK (AP) -- Wall Street advanced Tuesday ahead of the July 4th holiday as investors drew confidence from a smaller-than-expected dip in factory orders and new merger-and-acquisition activity.

The market was relieved to hear from the Commerce Department that U.S. factories saw demand dip in May by just 0.5 percent; most analysts had predicted a decline of more than 1 percent.

Takeover news gave the market an extra boost. Kraft Foods Inc. said it offered $7.2 billion to buy the biscuit division of French food company Groupe Danone SA; Canadian miner Teck Cominco Ltd. bid 4.1 billion Canadian dollars, or $3.87 billion, for Canadian copper miner Aur Resources Inc.; and a major Wendy's International Inc. shareholder said he is considering buying the hamburger chain.

The M&A activity helped the stock market extend Monday's steep gains, but most analysts aren't taking this week's movements too seriously, given that trading volumes are low. The stock market closed early at 1 p.m. EDT.

"Historically, the two days leading up to the July 4th holiday have been positive for the equity markets," said Michael Sheldon, chief market strategist at Spencer Clarke LLC. Investors shouldn't breathe a sigh of relief just yet; the few days after July 4th are often negative, he said, and the market's recent choppiness is expected to continue after that.

"In general, volatility levels have been rising over the last couple of weeks. You're likely to see a pickup in volatility in the third quarter," Sheldon said.

The Dow Jones industrial average rose 41.87, or 0.31 percent, to 13,577.30, adding to Monday's 126.81-point gain.

Broader stock indicators also climbed. The Standard & Poor's 500 index gained 5.44, or 0.36 percent, to 1,524.87, and the Nasdaq composite index lifted 12.65, or 0.48 percent, to 2,644.95.

Bonds fell after the better-than-anticipated factory orders data. The yield on the benchmark 10-year Treasury note rose 5.04 percent from 4.99 percent late Monday.

Homebuilders declined after the National Association of Realtors reported its index for pending sales of existing homes declined in May for the third straight month; however, the broader market shrugged off the data.

Kraft fell 87 cents to $34.66 after saying it made an offer to buy such European brands as LU, Petit Dejeuner, Tuc, and Mikado from Danone. Danone, which rose 1.3 percent in Paris trading, said its board is considering the bid on an exclusive basis.

Wendy's rose $1, or 2.7 percent, to $38.39 after billionaire investor Nelson Peltz said in a letter to Wendy's chairman that his company, which owns fast-food chain Arby's, would be a "natural, strategic buyer" for Wendy's, but that Wendy's is preventing him from doing so.

The financial sector helped lead stocks higher Tuesday, with Merrill Lynch & Co. and JPMorgan Chase & Co. each rising more than 1 percent and Goldman Sachs Group Inc. climbing 2.5 percent.

Airline stocks also jumped Tuesday, after Continental Airlines Inc. reported stronger-than-expected growth in June unit revenue. Continental climbed 11.1 percent; American Airlines parent AMR Corp. rose 4.8 percent; and US Airways Group Inc. rose 7 percent.

Caterpillar Inc., one of the 30 Dow components, declined after being downgraded by a UBS analyst. The heavy machinery maker, which had been the biggest gainer in the Dow Monday, was the blue-chip index's biggest loser Tuesday, falling $2.46, or 3.1 percent, to $77.99.

A barrel of light sweet crude rose 32 cents to settle at $71.41 on the New York Mercantile Exchange. Though the average U.S. retail price of a gallon of gasoline has fallen below $3, crude futures have been trading at 10-month highs.

The dollar rose against most other major currencies, except the British pound, which has strengthened to 26-year highs versus the U.S. currency. Gold prices slipped.

Advancing issues outnumbered decliners by about 5 to 3 on the New York Stock Exchange, where consolidated volume came to 1.52 billion shares -- down from 2.50 billion shares Monday, which was a full day of trading.

The Russell 2000 index of smaller companies rose 3.14, or 0.37 percent, to 848.20.

Overseas, Japan's Nikkei stock average rose 0.02 percent. Britain's FTSE 100 rose 0.75 percent, Germany's DAX index added 1.16 percent, and France's CAC-40 rose 0.71 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE was closed yesterday for the 4th of July Independence Day holiday


----------



## bigdog

The NYSE DOW closed LOWER by 11 points on Thursday July 5:
-- Nasdaq up 11 points

Sym -----Last ----Change-----
Dow 13,565.84  -11.46 (0.08%) 
Nasdaq 2,656.65  +11.70 (0.44%) 
S&P 500 1,525.40  +0.53 (0.03%) 
10-Yr Bond 5.14%   +0.09 
NYSE Volume 2,623,619,000 
Nasdaq Volume 1,709,125,000 

Overseas
The often-volatile Shanghai Composite Index plunged 5.3 percent on worries about government steps to cool down the market and concerns that several new share listings could dampen prices.

Japan's Nikkei stock average rose despite the drop in China's stock market, gaining 0.29 percent. Britain's FTSE 100 fell 0.57 percent, Germany's DAX index fell 1.09 percent, and France's CAC-40 fell 0.63 percent.

http://biz.yahoo.com/ap/070705/wall_street.html?.v=64
Stocks End Mixed As Bond Yields Rise
Thursday July 5, 5:34 pm ET 
By Madlen Read, AP Business Writer  
Wall Street Mixed As Bond Yields Rise, Service Sector Shows Growth 

NEW YORK (AP) -- Stocks closed mixed in uneven post-holiday trading Thursday as a rebound in bond yields stifled Wall Street's excitement about new buyout activity and strength in the U.S. service sector.

The Institute for Supply Management's index of service sector activity rose to 60.7 in June from 59.7 in May, indicating that non-manufacturing industries saw slightly faster expansion. The figure was better than expected, fueling sentiment that the economy is recovering from a slow first quarter.

However, the data weighed on bond prices, which were already weak after payroll company Automatic Data Processing and consultancy Macroeconomic Advisers said the private sector added 150,000 jobs last month -- a good sign that the Labor Department's report on June nonfarm payrolls Friday will show a solid rise.

As bond prices fell, the 10-year Treasury note's yield shot up to 5.14 percent Thursday from 5.04 percent Tuesday, ahead of the July 4th holiday. On Monday, the 10-year yield had slipped below the 5 percent level for the first time since early June.

Robust data can be double-edged for the stock market; though investors want the economy to strengthen, they remain worried that it will cause interest rates to rise, which can slow down business.

But the 10-year Treasury yield would have to rise significantly to do any real damage to the stock market, said Joe Balestrino, a portfolio manager at Federated Investors Inc. "If things are good, yields are supposed to be a little higher."

Also hurting the Dow Jones industrial average was General Motors Corp., one of the blue-chip index's 30 components. GM was downgraded by a Bear Stearns analyst after the automaker on Tuesday posted a 21.3 percent drop in June sales compared to last year.

The Dow fell 11.46, or 0.08 percent, to 13,565.84.

Broader stock indicators were narrowly mixed. The Standard & Poor's 500 index rose 0.53, or 0.03 percent, to 1,525.40, while the Nasdaq composite index rose 11.70, or 0.44 percent, to 2,656.65.

The technology-laden Nasdaq was lifted in part by Apple Inc., which rose $5.71, or 4.5 percent, to $132.88 after hitting an all-time high on continued enthusiasm over the iPhone. BlackBerry maker Research In Motion Ltd. also buoyed the Nasdaq, reaching a record high after saying it got cleared to sell its smartphones in China. Research in Motion rose $8.34, or 4 percent, to $216.28.

Many on Wall Street remained confident about stocks amid takeover news. Hilton Hotels Corp. agreed Tuesday to an all-cash buyout from Blackstone Group in a $20.1 billion deal; chemical company Huntsman Corp. said Wednesday a private equity firm made a cash buyout offer of about $6 billion that trumps last week's bid from a Dutch company; and a Coca-Cola Co. spokesman said Wednesday the company is looking into buying Cadbury Schweppes PLC's Snapple iced tea brand or building its own tea brand.

After agreeing to private equity buyouts, Hilton Hotels soared $9.40, or 26.1 percent, to $45.45, and Huntsman jumped $3.06, or 12.5 percent, to $27.46.

Coca-Cola slipped 26 cents to $52.64, while GM fell $1.20, or 3.2 percent, to $36.78 after the analyst downgrade.

The dollar rose against most major currencies on strong U.S. economic data, and gold prices fell. Meanwhile, the European Central Bank indicated it might raise rates later in the year than some analysts had expected, pressuring the euro lower.

Light, sweet crude futures bounced back from earlier losses, rising 40 cents to $71.81 a barrel on the New York Mercantile Exchange. Unrest in Nigeria, a major U.S. oil supplier, offset a report from the Energy Department showing oil and gasoline inventories increased last week.

Declining issues outnumbered advancers by about 4 to 3 on the New York Stock Exchange, where consolidated volume came to 2.62 billion shares, up from 1.52 billion shares in Tuesday's abbreviated session. Trading volumes remained relatively light with many of the big players out of the office following the July 4th holiday.

"Direction buyers aren't there," said Bill Groenveld, head trader for vFinance Investments.

The Russell 2000 index of smaller companies rose 1.93, or 0.23 percent, to 850.13.

Overseas, the often-volatile Shanghai Composite Index plunged 5.3 percent on worries about government steps to cool down the market and concerns that several new share listings could dampen prices.

Japan's Nikkei stock average rose despite the drop in China's stock market, gaining 0.29 percent. Britain's FTSE 100 fell 0.57 percent, Germany's DAX index fell 1.09 percent, and France's CAC-40 fell 0.63 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 45 points on Friday July 6:

Sym -----Last ----Change-----
Dow 13,611.68  +45.84 (0.34%) 
Nasdaq 2,666.51  +9.86 (0.37%) 
S&P 500 1,530.44  +5.04 (0.33%) 
10-Yr Bond 5.1950%   +0.0510 
NYSE Volume 2,441,517,000 
Nasdaq Volume 1,701,358,000 

The Dow Jones industrial average ended the week up 203.86, or 1.51 percent, at 13,611.68.

In Asian trading,
Hong Kong's Hang Seng Index rose 1.25 percent to its fourth straight record close. After plummeting 5.3 percent Thursday, the China's Shanghai Composite Index surged 4.6 percent. Japan's Nikkei stock average fell 0.44 percent.

In European trading,
Britain's FTSE 100 rose 0.83 percent, Germany's DAX index rose 0.77 percent, and France's CAC-40 rose 0.71 percent.

http://biz.yahoo.com/ap/070706/wall_street.html?.v=46
Stocks End Week Higher After Jobs Data
Friday July 6, 5:48 pm ET 
By Madlen Read, AP Business Writer  
Wall Street Higher After Stronger-Than-Expected Snapshot of U.S. Jobs Market 

NEW YORK (AP) -- Wall Street ended the first week of the third quarter with a respectable gain Friday, shaking off early losses as investors found signs of strength in the government's June employment report.

For the most part, investors were relieved to hear that the unemployment rate held steady at 4.5 percent in June for the third straight month, as expected, and that 132,000 jobs were added -- fewer than in May, but slightly higher than the average forecast. The Labor Department data also showed that a larger number of jobs were created in April and May than previously thought, and that June's average work week ticked up 0.1 percent.

Friday's jobs report was the most significant economic release of the shortened Fourth of July week, and indicated a fairly robust job market, given the slow-growing economy. If the majority of Americans are employed, they will likely keep spending and boosting corporate profits.

But the market had some early mixed feelings about the report, and the major indexes began the day with declines. While the positive snapshot boded well for the long-term performance of the stock market, it also raised worries that a too-strong economy will make the Federal Reserve more willing to raise rates to curb inflation. Though the central bank said last week that inflation appears to be moderating, it wants to see further evidence before it considers loosening monetary policy.

Treasury bond prices weakened after the employment numbers, pushing up the 10-year Treasury note's yield to 5.18 percent from 5.15 percent late Thursday. High yields can make mortgages more expensive for home buyers, slow business deals, and make bonds appear a more attractive investment than stocks.

But to many market watchers, higher rates are a positive sign; John O'Donoghue, co-head of equities at Cowen & Co., said it is unlikely investors will start selling stocks to invest in Treasurys unless the 10-year yield rises and stays above the 5.25 percent to 5.30 percent level.

"If yields are going higher because there's growth in the economy, that's actually good for stocks," O'Donoghue said.

The Dow Jones industrial average rose 45.84, or 0.34 percent, to 13,611.68.

Broader stock indicators also pared early losses and advanced. The Standard & Poor's 500 index rose 5.04, or 0.33 percent, to 1,530.44, and the Nasdaq composite index rose 9.86, or 0.37 percent, to 2,666.51.

Trading volumes were relatively low Friday, with many traders still off after the Wednesday holiday. Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where consolidated volume came to 2.39 billion shares, compared to 2.62 billion on Thursday.

For the week, the Dow rose 203.06 points, or 1.51 percent; the S&P 500 rose 27.09 points, or 1.80 percent; and the Nasdaq advanced 63.28, or 2.43 percent.

The first week of the second half of 2007 saw strong gains Monday, when the 10-year Treasury note's yield dipped below 5 percent for the first time since early June. Stocks floundered later in the week, though, as yields rebounded. Though some analysts say the week's unevenness was due to low trading volumes, others point out that it continues the recent pattern of volatility.

"I think the market, generally, entered the second half with more uncertainty, a little bit of caution, and sensitivity to bond rates -- that's what's changed," said Alexander Paris, economist and market analyst for Chicago-based Barrington Research.

Takeover activity has been helping the stock market stay afloat lately, and the market got another piece of buyout news late Thursday: Advanced Medical Optics Inc. made a $4.23 billion cash-and-stock bid for eye-care products competitor Bausch & Lomb Inc., beating a $3.67 billion cash bid by a private equity firm.

Advanced Medical Optics fell 4 cents to $35.85 after analysts said Friday it would probably have to sell some businesses to appease regulators. Bausch & Lomb closed unchanged at $72.

Chicago Mercantile Exchange Holdings Inc. upped its bid to buy its rival CBOT Holdings Inc. for the third time ahead of Monday's shareholders vote. The Chicago Mercantile Exchange rose $19.11, or 3.4 percent, to $574.80, while CBOT jumped $17.85, or 8.7 percent, to $224.

Crude oil futures, trading at 10-month highs, rose $1.00 to $72.81 a barrel on the New York Mercantile Exchange, buoyed by renewed violence and kidnappings in Nigeria, Africa's biggest oil producer.

The dollar was mixed against most other major currencies. Gold prices rose.

The Russell 2000 index of smaller companies rose 2.18, or 0.26 percent, to 852.31.

In Asian trading, Hong Kong's Hang Seng Index rose 1.25 percent to its fourth straight record close. After plummeting 5.3 percent Thursday, the China's Shanghai Composite Index surged 4.6 percent. Japan's Nikkei stock average fell 0.44 percent.

In European trading, Britain's FTSE 100 rose 0.83 percent, Germany's DAX index rose 0.77 percent, and France's CAC-40 rose 0.71 percent.

The Dow Jones industrial average ended the week up 203.86, or 1.51 percent, at 13,611.68. The Standard & Poor's 500 index finished up 27.09, or 1.80 percent, at 1,530.44. The Nasdaq composite index ended up 63.28, or 2.43 percent, at 2,666.51.

The Russell 2000 index finished the week up 4.11, or 0.48 percent, at 852.31.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 15,507.34, up 296.69 points for the week. A year ago, the index was at 12,861.98.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 38 points on Monday July 10:

Sym -----Last ----Change-----
Dow 13,649.97  +38.29 (0.28%) 
Nasdaq 2,670.02  +3.51 (0.13%) 
S&P 500 1,531.85  +1.41 (0.09%) 
10-Yr Bond 5.1590%   -0.0360 
NYSE Volume 2,722,710,000 
Nasdaq Volume 1,917,802,000 

In Asia, Japan's Nikkei stock average closed up 0.67 percent. 

At the close in Europe, Britain's FTSE 100 was up 0.34 percent, Germany's DAX index was up 0.36 percent, and France's CAC-40 was up 0.03 percent.

http://biz.yahoo.com/ap/070709/wall_street.html?.v=56
Dow Closes Up 38 Ahead of Key Earnings
Monday July 9, 6:54 pm ET 
By Joe Bel Bruno, AP Business Writer  
Dow Closes Up 38 As Wall Street Sees Gains on More Acquisitions Ahead of Key Earnings Reports 

NEW YORK (AP) -- Wall Street edged higher in an erratic session Monday as investors were reassured by a drop in Treasury bond yields yet still remained cautious as second-quarter earnings season kicks off this week.

Investors were looking to corporate earnings to help give the market some direction in the coming weeks. Reports had their unofficial start after the closing bell when aluminum producer Alcoa Inc. released results that matched analysts' projections.

In the meantime, Wall Street found some solace as the yield on the benchmark 10-year Treasury note dipped to 5.16 percent from 5.18 percent on Friday. There had been some concern that the steady rise in bond yields since June would crimp dealmaking.

Buyout activity continued Monday after Apollo Management LP's Hexion Specialty Chemicals Inc. raised its takeover bid for chemical company Huntsman Corp.; Barron's said FedEx Corp. might be the target of a buyout; and Coventry Health Care Inc. agreed to acquire Florida Health Plan Administrators, LLC, owner of Vista Healthplans, for $685 million.

A continuum of takeovers has given the stock market support in recent months. Shareholders of CBOT Holdings Inc. on Monday approved a merger with Chicago Mercantile Exchange Holdings Inc., a deal that will create the world's largest derivatives exchange.

"There's just not much earnings or economic news out there, and that has the market bobbing and weaving a little bit," said Jay Suskind, head trader at Ryan Beck & Co. "Overall, there's not a real catalyst to move the market one way or another, and I think the market will hover close to home."

The Dow Jones industrials rose 38.29, or 0.28 percent, to 13,649.97. The blue chip index came within about 7 points of its record close of 13,676.32 before falling back.

Broader market indexes were also higher. The Standard & Poor's 500 index rose 1.41, or 0.09 percent, to 1,531.85, and the Nasdaq composite index added 3.51, or 0.13 percent, to 2,670.02.

Last week, Wall Street began the third quarter with positive data on the job market and the manufacturing and service sectors, and managed to finish Friday with a respectable gain. For the week, the Dow rose 1.51 percent; the S&P 500 rose 1.80 percent and the Nasdaq advanced 0.08 percent.

Monday was a light day for economic data. The Federal Reserve reported that consumer credit rose at an annual rate of 6.4 percent in May, far above the small 1.1 percent gain of April and about double what analysts had been expecting. For May, consumers increased their borrowing by $12.9 billion to a record level of $2.44 trillion. Economists had been forecasting that consumer borrowing would rise by a much smaller $6.5 billion.

"This is a really slow data week, with nothing significant out until you see retail sales on Friday," said Brian Gendreau, an investment strategist for ING Investment Management. "We may be entering a period where investors might begin to pay more attention to earnings

Investors will be watching crude oil prices, which have been trading at their highest levels since last August. So far, high energy prices haven't yet hurt overall U.S. consumer spending, but any sign that inflationary pressures are worsening could raise worries on Wall Street about an interest rate hike.

A barrel of light sweet crude fell 62 cents to $72.19 on the New York Mercantile Exchange. The dollar was lower against other major currencies, while gold prices spiked.

In corporate news, Huntsman shares were up 7 cents at $28.07 after private equity firm Apollo Management raised its offer by 2.8 percent to $28 per share.

Alcoa, the world's second-largest aluminum producer, reported after the bell that second-quarter results fell about 4 percent but still matched analysts' projections. Shares closed up 70 cents at $42.36, but lost ground in after-hours electronic trading.

FedEx surged $5.33, or 4.8 percent, to $116.17 on a report the package delivery company could become a target for private equity buyers because of its modest valuation and turnaround potential, according to a report in Barron's.

CBOT shares fell $1.18 to $222.82 as shareholders voted on a combination with the Chicago Mercantile Exchange. CME shares fell $4.22 to $570.58. InterContinental Exchange Inc., which had also bid on the Chicago Board of Trade, rose 69 cents to $156.78.

Boeing Co., the world's second-largest commercial airplane maker, rose $1.02 to $99.90 on reports it received orders for its 787 Dreamliner. The aerospace company on Sunday unveiled the jet, which already has more than $100 billion in order.

Lexmark International Inc., which makes printers, warned that a shortfall in consumer inkjet supply sales will hurt results in the second quarter. Lexmark dropped $3.15, or 6.3 percent, to $46.25.

Pharmaceutical and consumer products giant Johnson & Johnson said Monday its board approved the repurchase of up to $10 billion of the company's common shares. The company currently has about 2.9 billion outstanding shares; it rose 59 cents to $62.72.

The Russell 2000 index of smaller companies rose 0.93, or 0.11 percent, to 853.24.

Advancing issues outpaced decliners by 4 to 3 on the New York Stock Exchange, where consolidated volume came to 2.68 billion shares, up from 2.39 billion on Friday.

In Asia, Japan's Nikkei stock average closed up 0.67 percent. At the close in Europe, Britain's FTSE 100 was up 0.34 percent, Germany's DAX index was up 0.36 percent, and France's CAC-40 was up 0.03 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 148 points on Tuesday July 11:

Sym -----Last ----Change-----
Dow 13,501.70  -148.27 (1.09%) 
Nasdaq 2,639.16  -30.86 (1.16%) 
S&P 500 1,510.12  -21.73 (1.42%) 
10-Yr Bond 5.0380%   -0.1210 
NYSE Volume 3,244,402,000 
Nasdaq Volume 2,247,252,000 

In Asian trading
Japan's Nikkei stock average fell 0.05 percent; Hong Kong's Hang Seng Index rose 0.3 percent to a sixth straight record close;  and China's Shanghai Composite Index fell 0.8 percent.

In European trading 
Britain's FTSE 100 fell 1.22 percent, Germany's DAX index fell 1.39 percent, and France's CAC-40 fell 1.40 percent.

http://biz.yahoo.com/ap/070710/wall_street.html?.v=59
Dow Drops 148 on Disappointing Outlooks
Tuesday July 10, 6:11 pm ET 
By Madlen Read, AP Business Writer  
Dow Plunges 148 on Disappointing Forecasts From Home Depot and Sears, Soaring Oil Prices 

NEW YORK (AP) -- Stocks plunged Tuesday as investors, nervous about upcoming earnings reports, cringed at troubling forecasts from retailers Home Depot and Sears and at soaring oil prices. The Dow Jones industrial average fell 148 points.

The market seemed to be following the pattern of previous earnings seasons, turning lower as second-quarter reports had a rocky start. Home Depot Inc., Sears Holdings Corp. and homebuilder D.R. Horton Inc. offered dreary outlooks that suggested the sluggish housing market may dampen consumer spending.

The outlooks followed Monday's news that aluminum producer Alcoa Inc.'s second-quarter sales missed estimates and that printer manufacturer Lexmark International Inc. slashed its second-quarter earnings forecast. Together, the reports dispirited investors who had been counting on corporate America's performance giving a boost to the stock market, which has been stuttering in recent weeks.

"People are a little bit skittish about the health of the consumer," said Jack Caffrey, equities strategist at J.P. Morgan Private Bank.

As the U.S. dollar tumbled and investors fled to the relative safety of Treasury bonds, the stock market dropped further after oil prices briefly spiked above $73 a barrel, raising concerns about Americans' energy bills.

Wall Street -- which often trades erratically amid profit warnings before the quarterly earnings flood -- also weakened due to ratings agency Standard & Poor's, which said it may lower the credit rating of more than $12 billion in bonds backed by risky home loans. Such loans are sold by some of the nation's largest banks.

The Dow fell 148.27, or 1.09 percent, to 13,501.70, near its low of the session.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 21.73, or 1.42 percent, to 1,510.12, while the Nasdaq composite index was off 30.86, or 1.16 percent, at 2,639.16.

Bond prices soared, pushing down the 10-year Treasury note's yield to 5.03 percent from 5.16 percent late Monday. The plunge in yields failed to boost stocks, largely because the decrease was caused by worries about the housing market rather than confidence that inflation is easing.

A speech by Federal Reserve Chairman Ben Bernanke in Cambridge, Mass., did not offer much insight into the central bank's next move, and instead focused on how the Fed makes its inflation-fighting decisions. Investors are curious whether the bank will raise interest rates later this year to rein in inflation, given soaring food and energy prices.

Crude oil futures climbed 62 cents to $72.81 a barrel on the New York Mercantile Exchange, after momentarily surpassing $73 a barrel, their highest point since late August.

"Incrementally, high energy prices do shift consumer spending habits, and do force people to spend money where they don't necessarily want to, but where they need to. That has implications for earnings," Caffrey said.

The dollar dropped to a new low versus the euro Tuesday and a 26-year low against the British pound. Gold prices rose.

The financial and retail sectors saw significant losses on jitters about subprime lending and consumer spending. JPMorgan Chase & Co., American Express Co. and Wal-Mart Stores Inc. were the big losers among the 30 Dow companies.

Sears plunged $17.10, or 10 percent, to $154.31 after issuing its guidance, and D.R. Horton fell 38 cents, or 2 percent, to $19.41.

Home Depot rose 8 cents to $40.31, though, after saying it is launching a tender offer for 250 million shares of its common stock.

Not all of Tuesday's guidance was disappointing: Pepsi Bottling Group Inc., one of the world's largest distributors of Pepsi drinks, raised its outlook for full-year earnings, and its stock rose $1.45, or 4.2 percent, to $35.88.

But overall, "I don't think it's been a great day-and-a-half of earnings reporting," said Stephen Carl, principal and head of equity trading at The Williams Capital Group.

Dow component General Motors Co. and its rival Ford Motor Co. also gained after a JPMorgan analyst upgraded the shares of both automakers. GM rose 69 cents to $37.46, and Ford rose 2 cents to $9.10.

Declining issues outnumbered advancers by nearly 3 to 1 on the New York Stock Exchange, where consolidated volume came to 3.20 billion shares, compared to 2.68 billion shares Monday.

The Russell 2000 index of smaller companies fell 15.76, or 1.85 percent, to 837.48.

Investors found little relief in the Commerce Department's report that May wholesale inventories rose 0.5 percent, more than in April and slightly higher than expected.

In Asian trading, Japan's Nikkei stock average fell 0.05 percent; Hong Kong's Hang Seng Index rose 0.3 percent to a sixth straight record close; and China's Shanghai Composite Index fell 0.8 percent.

In European trading, Britain's FTSE 100 fell 1.22 percent, Germany's DAX index fell 1.39 percent, and France's CAC-40 fell 1.40 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 76 points on Wednesday July 12:

Sym -----Last ----Change-----
Dow 13,577.87  +76.17 (0.56%) 
Nasdaq 2,651.79  +12.63 (0.48%) 
S&P 500 1,518.76  +8.64 (0.57%) 
10-Yr Bond 5.0800%   +0.0420 
NYSE Volume 3,104,892,000 
Nasdaq Volume 2,056,483,000 

In Asian trading, Japan's Nikkei stock average fell 1.11 percent; Hong Kong's Hang Seng Index fell 1.22 percent; and China's Shanghai Composite Index rose 0.3 percent.

In European trading, Britain's FTSE 100 fell 0.24 percent, Germany's DAX index fell 0.83 percent, and France's CAC-40 fell 0.30 percent.

http://biz.yahoo.com/ap/070711/wall_street.html?.v=66
Stocks Rise on Takeover Activity
Wednesday July 11, 6:17 pm ET 
By Madlen Read, AP Business Writer  
Wall Street Rises on Acquisition Activity, Earnings Optimism 

NEW YORK (AP) -- Wall Street bounced back Wednesday from its sharp decline a day earlier, boosted by takeover activity ahead of second-quarter earnings reports. Investors shaken by profit warnings earlier in the week appeared to be cautiously optimistic as they awaited quarterly earnings reports. 

Meanwhile, new buyout activity encouraged investors. Steelmaker Gerdau Ameristeel Corp. said late Tuesday it was buying Chaparral Steel Co. for $4.22 billion, while speculation mounted Wednesday that Colgate-Palmolive Co. was interested in buying all or part of Unilever.

Giving the stock market an extra lift, Fed officials alleviated some jitters about problems involving subprime lending. Philadelphia Federal Reserve President Charles Plosser said the financial system is well-equipped to handle home loan risks, and Fed Gov. Kevin Warsh said that while subprime exposure troubles may not be over, they are not spilling into the broader economy.

Market watchers found it auspicious that Wall Street managed to recover some ground from its tumble Tuesday, when the Dow Jones industrial average lost 148 points, but said investors may not be out of the woods yet.

"There's still, I sense, some caution, and I think the principal reason for the caution is that we have the heart of the earnings season ahead of us," said Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors. "No one wants to make a major commitment to the market until we see the earnings reports. Earnings reports are a big hurdle that's on the horizon."

The Dow rose 76.17, or 0.56 percent, to 13,577.87.

Broader indexes also rebounded. The Standard & Poor's 500 index gained 8.64, or 0.57 percent, to 1,518.76, and the Nasdaq composite index advanced 12.63, or 0.48 percent, to 2,651.79.

Bonds slipped as investors re-entered the stock market. The yield on the benchmark 10-year Treasury note rose to 5.08 percent from 5.03 percent late Tuesday.

The dollar fell to a new record low against the euro and a 26-year low versus the British pound, but rose versus the yen.

Stocks plummeted Tuesday on disappointing forecasts from Home Depot Inc., Sears Holdings Corp., and homebuilder D.R. Horton Inc., and after Standard & Poor's and Moody's said they would slash the ratings of billions of dollars worth of bonds backed by subprime mortgages.

The market's concerns about risky home loans are likely to keep dogging the market. "The actual financial impact is anybody's guess. The market doesn't like uncertainty," said Jim Herrick, manager and director of equity trading at Baird & Co.

After the closing bell Tuesday, the stock market, which has been positioning itself for next week's onslaught of earnings reports, got some promising news. Oil company Chevron Corp. said it expected its quarterly financial results would be boosted by higher commodity prices and stronger refining margins. Chevron rose $1.67 to $90.67.

Also late Tuesday, Gerdau said it was buying steel rival Chaparral. Chaparrel rose $7.98, or 10.5 percent, to $83.67, and Gerdau fell $1.21, or 7.7 percent, to $14.48.

Unilever rose $1.03, or 3.2 percent, to $32.94 on the Colgate takeover rumors, while Colgate rose $1.08 to $66.85.

Crude oil futures fell 25 cents to $72.56 a barrel on the New York Mercantile Exchange, after the Energy Department reported that U.S. gasoline inventories rose more than anticipated.

Gold prices dipped.

Advancing issues narrowly outnumbered decliners on the New York Stock Exchange, where consolidated volume came to 3.01 billion shares, down from 3.20 billion on Tuesday.

The Russell 2000 index of smaller companies rose 2.49, or 0.30 percent, to 839.97.

Thursday will bring the Commerce Department's reading on the international trade balance, and sales reports from various retailers.

In Asian trading, Japan's Nikkei stock average fell 1.11 percent; Hong Kong's Hang Seng Index fell 1.22 percent; and China's Shanghai Composite Index rose 0.3 percent.

In European trading, Britain's FTSE 100 fell 0.24 percent, Germany's DAX index fell 0.83 percent, and France's CAC-40 fell 0.30 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


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## vishalt

283 points, its going to be a mammoth rally today.


----------



## bigdog

WOW DOW UP 283 POINTS OR 2%
Dow Posts Biggest Gain in Four Years

The NYSE DOW closed HIGHER by 283 points on Thursday July 12:

Sym -----Last ----Change-----
Dow 13,861.73  +283.86 (2.09%) 
Nasdaq 2,701.73  +49.94 (1.88%) 
S&P 500 1,547.70  +28.94 (1.91%) 
10-Yr Bond 5.12%   +0.04 
NYSE Volume 3,489,610,000 
Nasdaq Volume 2,274,737,000 

*Overseas*
Japan's Nikkei stock average fell 0.36 percent. Britain's FTSE 100 rose 1.25 percent, Germany's DAX index advanced 1.96 percent, and France's CAC-40 jumped 1.70 percent.


http://biz.yahoo.com/ap/070712/wall_street.html?.v=48
Stocks Surge on Retail Sales Reports
Thursday July 12, 5:51 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks Barrel to Records on Retail Sales Reports; Dow Posts Biggest Gain in Nearly 4 Years *


NEW YORK (AP) -- Wall Street soared Thursday, propelling the Standard & Poor's 500 index and Dow Jones industrials to record highs as bright spots among generally sluggish retail sales allowed investors to toss aside concerns about the health of the economy.

The rally, which gave the Dow its biggest one-day percentage gain in nearly four years, was perhaps surprising given that there was no extraordinary announcement or other catalyst often seen with such a huge gain, and that it came before most companies have announced their second-quarter earnings. The rise also marked a sharp contrast to the start of the week, when stocks fell sharply amid concerns that some hedge funds could succumb to ill-placed bets on the housing sector.

But investors, heartened by signs of a happy and spending consumer, clearly decided to put some money on the table. Though retail sales generally appeared to be crimped last month by higher gasoline prices and a tepid housing market, and the outlook for the coming months was difficult to ascertain, the overall reading wasn't as dour as some investors expected.

Several reports beat Street expectations -- notably that of Wal-Mart Stores Inc., the world's largest retailer, which posted a better-than-expected 2.4 percent jump in sales at stores open at least a year.

"It's relief that things weren't as bad as people expected," said Bill Schultz, chief investment officer at McQueen, Ball & Associates, referring to the retailers' reports and the economy at large. "We're maybe getting slower growth but not the fall-of-the-cliff economic scenarios," he said of investors' reading of the economy.

But, Schultz said, "I think it is, over the near-term, a little bit over done, certainly on a two-day basis," he added, referring to the rally. Given the nearly 400-point swing the Dow has shown this week and the big gains Thursday, a profit-taking session Friday wouldn't come as a surprise.

The S&P 500 rose 28.94, or 1.91 percent, to 1,547.70, above its record close of 1,539.18, set June 4.

The Dow shot up 283.86, or 2.09 percent, to 13,861.73; its previous record close, which also came June 4, was 13,676.32. Thursday's jump was the biggest one-day percentage gain for the blue chip index since October 2003 and the biggest one-day point gain since October 2002. The Dow also reached a new trading high of 13,869.94 and had its 50th record close since October.

The Nasdaq composite index rose 49.94, or 1.88 percent, to 2,701.73; the rise Thursday marked the biggest one-day percentage increase since March. The last time the Nasdaq closed at such levels was in February 2001. Still, the index, bloated by the late 1990s tech boom, is nowhere near its closing record of 5,048.62, set in March 2000.

The report from Wal-Mart, one of the 30 companies that make up the Dow, helped ease some investors' worries about the health of the consumer ahead of the Commerce Department's Friday report on U.S. retail sales.

"This is the first positive month Wal-Mart has had in a while," said Doug Roberts, chief investment strategist for investment research company Channel Capital Research, citing one reason for the market's move higher. "The market has a split personality. This is the other side of the personality," he said, referring to the turnaround from sentiment from Monday.

"The kind of disaster situation that everybody was preparing for doesn't seem to be playing out."

Besides, Wal-Mart, Intel Corp. helped push the Dow higher after a Banc of America Securities analyst said the company might turn in better-than-expected second-quarter sales. Intel jumped $1.43, or 5.8 percent, to $26.

Stocks' ascent Thursday after at times indecisive trading in recent weeks could also reflect so-called short covering. Investors who sell stocks short are betting the stock will fall and in cases where the stocks rise, such investors are often forced to move in and buy stocks to limit their losses.

Bonds fell Thursday, with the yield on the benchmark 10-year Treasury note rising to 5.13 percent from 5.09 percent late Wednesday. The dollar was generally lower against other major currencies, dropping to a fresh low versus the euro and a 26-year low against the British pound. Gold prices rose.

Light, sweet crude fell 6 cents to $72.50 per barrel on the New York Mercantile Exchange.

The gains Thursday come after about a year of impressive gains for stocks. Since the middle of last summer when oil prices receded and the Federal Reserve stopped raising short-term interest rates, investors have looked to continued growth in corporate profits and merger activity in deciding to push stocks higher.

Wall Street received an additional boost after mining company Rio Tinto offered to buy Canadian aluminum producer Alcan for $38.1 billion. The offer topped a bid from Alcoa Inc. that Alcan's board rejected in May. Alcoa said after the closing bell Thursday that it was dropping its bid.

Alcan shares surged Thursday following Rio Tinto's move, as did those of Alcoa, perhaps on the hope Rio Tinto's bid would scuttle an Alcan-Alcoa deal.

Alcan jumped $8.85, or 9.9 percent, to $98.45, after hitting a 52-week high of $99.97; its previous high was $90.44. Alcoa, the biggest gainer among the Dow, rose $2.86, or 6.7 percent, to $45.29, setting a fresh 52-week high of $46.15. The earlier 52-week high was $42.90.

Among retailers surprising Wall Street, J.C. Penney Co. posted a narrower-than-expected decline in its June same-store sales and reiterated its second-quarter profit forecast. The department store chain rose $4.30, or 6 percent, to $75.46.

American Eagle Outfitters, a youth clothing retailer, saw its June same-store sales jump 8 percent, nearly double the increase the Street expected. American Eagle rose $1.68, or 6.5 percent, to $27.71.

But Macy's Inc. fell $1.16, or 2.9 percent, to $39.25 after the parent of the Macy's and Bloomingdale's chains posted same-store sales that came in well below forecasts and after reducing its second-quarter outlook.

Trading is likely to remain volatile while the market awaits the bulk of second-quarter earnings reports. Analysts are keeping expectations low -- especially after profit warnings this week from cell phone maker Motorola Inc., and retailers Home Depot Inc. and Sears Holdings Corp.

Roberts noted that the low volume typical of the summer months had resulted in some higher volatility.

"It tends to bounce back and forth, but over all the market is grinding higher. How much higher remains to be seen."

Economic data released Thursday seemed overshadowed by the retail sales reports and news from the aluminum sector. The Commerce Department said Thursday the international trade balance widened to $60.04 billion in May, as expected, from $58.5 billion in April. The Labor Department reported that the number of people seeking unemployment claims fell to 308,000 last week -- the lowest level in almost two months and a decline of 12,000 from a week earlier.

Advancing issues outnumbered decliners by 3 to 1 on the New York Stock Exchange, where volume came to 1.66 billion shares compared with 1.44 billion traded Wednesday.

The Russell 2000 index of smaller companies rose 15.21, or 1.81 percent, to 855.18, a record close.

Overseas, Japan's Nikkei stock average fell 0.36 percent. Britain's FTSE 100 rose 1.25 percent, Germany's DAX index advanced 1.96 percent, and France's CAC-40 jumped 1.70 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 45 points on Friday July 13:

Sym -----Last ----Change-----
Dow 13,907.25  +45.52 (0.33%) 
Nasdaq 2,707.00  +5.27 (0.20%) 
S&P 500 1,552.50  +4.80 (0.31%) 
10-Yr Bond 5.1070%   -0.0090 
NYSE Volume 2,801,605,000 
Nasdaq Volume 1,806,919,000 

In European trading, Germany's DAX index of blue chip stocks hit a new all-time high, breaking through a seven-year-old record. The DAX finished up 0.49 percent. Elsewhere, Britain's FTSE 100 rose 0.28 percent and France's CAC-40 rose 0.24 percent.

In Asian trading, Japan's Nikkei stock average rose 1.42 percent; Hong Kong's Hang Seng Index rose 1.27 percent to a new record; and China's often volatile Shanghai Composite Index slipped 0.04 percent.

http://biz.yahoo.com/ap/070713/wall_street.html?.v=58
Stocks Rise; S&P Sets New Trading High
Friday July 13, 7:53 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Rise a Day After Big Rally; S&P 500 Breaks 7-Year Trading Record As Dow Passes 13,900 


NEW YORK (AP) -- Wall Street ended an extraordinary and record-setting week Friday by surging higher again, sending the Standard & Poor's 500 index past a trading high set in March 2000 and thrusting the Dow Jones industrial past 13,900 for the first time. 

Both the S&P and the Dow logged record closes for the second straight day and the Dow's new trading high put the blue chip index within about 70 points of 14,000. But the technology-laden Nasdaq composite index showed more modest advances in Friday's session and remained far from its record levels seen early in the decade.

In a week that saw the Dow swing more than 450 points, including a gain of 283 points in Thursday's session alone, investors grappled with unease over soured subprime loans and the broader economy before casting off such concerns and bidding stocks higher amid signs consumers might yet again pull through and give Wall Street reason to climb higher.

On Friday, investors seemed upbeat about earnings and takeover activity and appeared only slightly disappointed by the Commerce Department's report that retail sales dropped 0.9 percent last month, following a 1.5 percent jump in May. The June figure was weaker than anticipated and marked the steepest decline in nearly two years.

"I think investors are overstating their moves on a day-to-day basis but over the long term we continue to trend upward," said Brian Levitt, corporate economist at OppenheimerFunds Inc. "I think that is reasonable given the strong global quality picture and the strong global growth picture."

The Dow rose 45.52, or 0.33 percent, to 13,907.25 after reaching a new trading high of 13,932.29.

Relief that Alcoa won't pursue a deal with Alcan Inc. helped the Dow Friday, as did solid quarterly results from General Electric Co., which sent the conglomerate's stock above $40 during trading and to a five-year high.

For the week, the Dow rose 295.57 points, or about 2.2 percent. Its three-day gain following sharp losses Tuesday was the Dow's biggest percentage increase since a rise of 3.17 percent over three sessions in May 2005 and its biggest point gain since early 2003, when the Dow added 405.74 points.

Broader stock indicators also advanced Friday. The Standard & Poor's 500 index rose 4.80, or 0.31 percent, to 1,552.50. The index late in Friday's session set a fresh trading high of 1,555.10, topping a previous record of 1,553.11 set in March 2000. The S&P added 1.4 percent for the week.

The Nasdaq composite index gained 5.27, or 0.20 percent, to 2,707.00 after spending much of the session moderately lower; the week's gain totaled 1.5 percent. Though the Nasdaq was trading at levels not seen since early in the decade, the index remains well short of its closing record of 5,048.62, set in March 2000 when it was bloated by the late 1990s tech boom.

On Friday, an upbeat report on the mood of consumers released after trading began seemed to inject the market with additional confidence. The Reuters/University of Michigan index of consumer sentiment increased to a six-month high of 92.4 for mid-July from 85.3 in June.

The reading followed Thursday's session in which the stock market surged after strong sales reports from a few U.S. retailers gave investors a reason to be optimistic about consumer spending and the upcoming deluge of second-quarter earnings results.

Investors abroad were also in a buying mood Friday. In European trading, Germany's DAX index of blue chip stocks hit a new all-time high, breaking through a seven-year-old record. The DAX finished up 0.49 percent. Elsewhere, Britain's FTSE 100 rose 0.28 percent and France's CAC-40 rose 0.24 percent.

In Asian trading, Japan's Nikkei stock average rose 1.42 percent; Hong Kong's Hang Seng Index rose 1.27 percent to a new record; and China's often volatile Shanghai Composite Index slipped 0.04 percent.

Treasury bond prices rose, with the yield on the benchmark 10-year note falling to 5.10 percent from 5.13 percent late Thursday. The dollar was mixed against other major currencies and still trading at a record low versus the euro and 26-year low against the British pound. Gold prices fell.

Light, sweet crude rose $1.43 to $73.93 per barrel on the New York Mercantile Exchange.

Buyout activity -- or the possibility of further deals -- appeared to help buoy stocks Friday and perhaps helped stave off a pullback. Often after big jumps in stocks, investors are tempted to cash in gains and stand back as the market consolidates. But a Standard & Poor's analyst said that after Rio Tinto's bid for aluminum producer Alcan beat out Alcoa's offer, Alcoa is now a more attractive takeover target. Alcan slipped 95 cents to $97.50, while Alcoa jumped $2.06, or 4.6 percent, to $47.35, making it the best performer among the 30 stocks that make up the Dow industrials.

Meanwhile, Energizer Holdings Inc. said it agreed to acquire Playtex Products Inc. for about $1.16 billion. Playtex surged $2.45, or 16 percent, to $17.97, while Energizer rose to an all-time high of $114.17 amid enthusiasm over the deal. The stock finished up 94 cents at $107.67.

But the type of news that aided some of the major indexes Friday also worked against stocks earlier in the week. On Tuesday, stocks fell sharply following lackluster forecasts from retailers such as Home Depot Inc. and Sears Holdings Corp. Concerns about soured loans and other woes in the subprime housing market also dogged Wall Street at times.

"We seem to be having knee-jerk reactions depending on the latest news and that makes sense following a long period of complacency," Levitt said. "Investors can expect to see some level of volatility despite the fact that broad economic conditions look pretty good."

He contends further unease about the effect of faltering subprime loans, which are made to those with poor credit, could still upset the markets and that investors should brace for potential bumps on Wall Street.

"We do expect volatility for the remainder of year and we think investors need to be positioning their portfolios so they can absorb some of that volatility."

But the news Friday appeared to trump longer-term concerns some investors might hold. GE posted a rise in its second-quarter profits that met Street forecasts and said it is ridding itself of its subprime mortgage business. The company also said it was boosting its stock-buyback program. GE rose 50 cents to $39.50.

In other corporate news, Amgen Inc. rose 98 cents to $56.93 after the biotechnology company increased its stock-repurchase program by $5 billion, adding to the $1.5 billion already earmarked for buybacks under a previous plan.

RadioShack Corp. fell $2.12, or 6.5 percent, to $30.75 after an analyst predicted sales growth would prove elusive.

Idenix Pharmaceuticals Inc. plunged $2.22, or 38 percent, to $3.57 after drug regulators suspended clinical study of the biopharmaceutical company's hepatitis C drug because results so far haven't merited potential risks of the treatment.

In other economic data, the Commerce Department reported June import prices rose 1 percent in June, and that export prices rose 0.3 percent. The government also reported that inventories held by businesses increased by 0.5 percent in May. The stronger-than-expected increase supported a notion that inventory rebuilding might give a boost to economic growth in the coming months.

The Russell 2000 index of smaller companies rose 0.59, or 0.07 percent, to 855.77.

Consolidated volume on the New York Stock Exchange totaled 2.75 billion shares compared with 3.42 billion traded Thursday.

The Dow Jones industrial average ended the week up 295.57, or 2.17 percent, at 13,907.25. The Standard & Poor's 500 index finished up 22.06, or 1.44 percent, at 1,552.50. The Nasdaq composite index ended up 40.49, or 1.52 percent, at 2,707.00.

The Russell 2000 index finished the week up 3.46, or 0.41 percent, at 855.77.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 15,700.95, up 193.61 points for the week. A year ago, the index was at 12,497.96.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 43 points on Monday July 16:

Sym -----Last ----Change-----
Dow 13,950.98  +43.73 (0.31%) 
Nasdaq 2,697.33  -9.67 (0.36%) 
S&P 500 1,549.52  -2.98 (0.19%) 
10-Yr Bond 5.0410%   -0.0660 
NYSE Volume 2,704,990,000 
Nasdaq Volume 1,820,713,000

In overseas trading
Britain's FTSE 100 fell 0.28 percent, Germany's DAX index rose 0.16 percent, and France's CAC-40 gained 0.12 percent. Japan's Nikkei stock average finished flat. Hong Kong's Hang Seng Index fell 0.63 percent, while the often-volatile Shanghai Composite Index fell 2.36 percent.

http://biz.yahoo.com/ap/070716/wall_street.html?.v=43
Dow Hits Record on Possible Verizon Deal
Monday July 16, 6:44 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Trade Mostly Mixed but Dow Jumps on Report of Potential Verizon Deal 


NEW YORK (AP) -- Blue chip stocks rose Monday as news of a potential big telecom deal involving Verizon pushed the Dow Jones industrials to a new record close, and put the index closer to 14,000. Overall, stocks traded were mixed as investors digested the market's huge gains of last week.

While broader market indexes showed slight declines, the notion of a Verizon deal appeared to inject Wall Street with fresh optimism and helped stocks mostly hold last week's sizable gains because buyout activity has been a big driver for the stock market in the past year.

Although Vodafone Group PLC denied a report by the Financial Times that it is weighing whether to make a huge $160 billion bid for Verizon Communications Inc., investors appeared undeterred. The report cautioned that Vodafone has yet to approach Verizon; a deal could give Vodafone full ownership of Verizon Wireless, which Vodafone and Verizon now own jointly.

"I think just the idea of the number floated -- $160 billion -- gets the juices running in the market again even after this big move," said Greg Church, chief investment officer of Church Capital Management in Yardley, Pa., referring to last week's gains. "It would be the biggest deal ever. People want to be at the party and they don't want miss it."

The Dow rose 43.73, or 0.31 percent, to 13,950.98 -- its 30th record close since the start of the year. The benchmark index, which came off of highs from earlier in the session, again set a trading high, hitting 13,989.11, less than 11 points from 14,000. The previous high of 13,932.29 came in Friday's session, which also saw a record close.

Also helping the Dow, construction equipment maker Caterpillar Inc. hit a new high of $86.49, and closed at $85.90. United Technologies Corp., also a Dow component, hit a 52-week high of $76.98 before it closed at $76.67.

Broader stock indicators slipped lower Monday. The Standard & Poor's 500 index slipped 2.98, or 0.19 percent, to 1,549.52. The S&P set a fresh trading high of 1,555.90, topping a high of 1,555.10 set Friday when the index surged past a trading high set in March 2000.

The Nasdaq composite index fell 9.67, or 0.36 percent, to 2,697.33.

Declining issues outnumbered advancers by about 2 to 1 on the New York Stock Exchange, where consolidated volume came to 2.70 billion shares, down from 2.75 billion on Friday.

Bonds rose Monday, with the yield on the benchmark 10-year Treasury note falling to 5.04 percent from 5.10 percent late Friday.

On Monday, light, sweet crude futures rose 22 cents to $74.15 on the New York Mercantile Exchange. Oil hadn't closed above that level since mid-August.

The dollar was mixed against other major currencies and continued to hover near its record lows against the euro. Gold prices fell.

Buyout news was responsible for moving a number of stocks Monday. Verizon rose $1.00, or 2.4 percent, to $42.76. Vodafone fell 37 cents to $33.15.

In a much more modest but confirmed deal, restaurant chain operator IHOP Corp. said it would acquire Applebee's International Inc. for about $1.9 billion. Applebee's rose 53 cents, or 2.2 percent, to $24.91, while IHOP jumped $4.99, or 8.9 percent, to $61.24.

Con-way Inc. jumped $3.00, or 5.7 percent, to $56.06 after the trucking company agreed to acquire privately held carrier Contract Freighters Inc. for $750 million.

Church contends the stock market's gains are on solid footing, he contends that if the number of deals slow markedly or if one unravels because of an inability to obtain financing, the overall stock market would likely pull back.

"As you keep ratcheting this up on more and more speculation at some point it does get a little frothy but we're not there yet," he said, referring to the stock market's gains.

"I think when this might pop is where one of these big deals can't get financing. Then the game is done."

But stocks generally held their ground Monday and showed little reaction to the New York Federal Reserve's Empire State Manufacturing Survey that found regional manufacturing activity continued to improve in July.

Last week's run-up came ahead of a flurry of quarterly results -- 11 of the 30 companies that make up the Dow Jones industrials are due to report this week -- and in advance of key readings on inflation.

Forecasts from companies should help indicate whether they can continue to put up solid profit growth as pricing pressures fluctuate, in part because of forces such as rising oil prices.

In other corporate news Monday, McDonald's Corp. rose 19 cents to $52.10 after predicting its second-quarter earnings before charges will top Wall Street's forecasts.

Mattel Inc. rose 67 cents, or 2.5 percent, to $27.20 after reporting its second-quarter earnings rose 15 percent as increased sales global of its Barbie dolls and Hot Wheels toy cars made up for soft U.S. sales.

Ford Motor Co. fell 11 cents to $8.87 after denying various reports that it is in talks to sell its Volvo division.

In overseas trading, Britain's FTSE 100 fell 0.28 percent, Germany's DAX index rose 0.16 percent, and France's CAC-40 gained 0.12 percent. Japan's Nikkei stock average finished flat. Hong Kong's Hang Seng Index fell 0.63 percent, while the often-volatile Shanghai Composite Index fell 2.36 percent.

The Russell 2000 index of smaller companies fell 7.30, or 0.85 percent, to 848.47.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 43 points on Tuesday July 17:

Sym Last_____-___Change_____
Dow	13,971.55	Up 20.57 (0.15%)
Nasdaq	2,712.29	Up 14.96 (0.55%)
S&P 500	1,549.37	Down 0.15 (0.01%)
10-Yr Bond	5.0780% 	Up 0.0370
NYSE Volume	3,007,259,000
Nasdaq Volume	2,272,668,000

In market action abroad, 
Britain's FTSE 100 fell 0.58 percent, Germany's DAX index fell 0.83 percent, and France's CAC-40 fell 0.43 percent. In Asia, Japan's Nikkei stock average fell 0.12 percent.

http://biz.yahoo.com/ap/070717/wall_street.html?.v=50
*Stocks End Mixed; Dow Crosses 14,000*
Tuesday July 17, 5:51 pm ET
By Tim Paradis, AP Business Writer
Stocks End Mixed As Dow Crosses 14,000; Buyout News Adds to Wall Street's Momentum

NEW YORK (AP) -- The Dow Jones industrial average swept past 14,000 for the first time Tuesday after a mostly tame inflation reading gave investors reason to extend an extraordinary -- but perhaps questionable -- Wall Street rally.

The stock market's best-known indicator crossed 14,000 in the first half-hour of trading though it didn't close above that level; it did, however, manage its fourth record close in as many sessions. The Dow rose as high as 14,021.95, having taken just 57 trading days to make the trip from 13,000. Broader market indicators closed mixed.

Stocks have risen fairly steadily since the spring amid a continuum of buyout news and evidence that despite higher fuel prices and the ongoing problems in the housing market and mortgage lending industry, consumers are spending and companies are still finding room for growth. With the Federal Reserve ever vigilant about inflation, any news that prices are rising at a moderate pace has added to the market's momentum, as it did Tuesday.

The release of generally upbeat earnings reports also helped reassure a market that had worried that a slowing economy and rising energy prices could cut into corporate profits.

But the Dow's latest accomplishment does raise questions about whether investors are buying more on speculation than fundamentals -- and whether these gains can hold. The market still faces issues including rising oil prices that could crimp consumer spending. And a drop in takeover deals could puncture investor sentiment, as could a further souring of subprime loans amid a cooling housing market.

The past week shows how easily swayed Wall Street can be. A week ago, the average tumbled nearly 150 points after investors received a handful of disappointing profit forecasts. Only two days later, on Thursday, the Dow barreled 283 points higher as investors put a positive spin on a generally lackluster batch of retail sales reports.

"One of the things we know about the Dow being only 30 stocks is that it is a bit less representative of the entire market, but it is still a sign that large-cap multinationals continue to drive this market," said Peter Dunay, an investment strategist with New York-based Leeb Capital Management. "For the moment, the momentum and strength is so good. You can't fight it."

Other observers were more upbeat about the market's recent advance.

"You have the Dow moving up above 14,000 and it did not take that long, but you also have Nasdaq participating," said Quincy Krosby, chief investment strategist for The Hartford, noting that the market's rise appears broad-based.

"It's forcing some money on the sidelines to come in," she said, referring to reluctant money managers who have been awaiting a pullback to enter the market. "Needless to say, the higher it goes and the quicker it goes, the more susceptible you are to a pullback. A pullback would be healthy and normal."

The Dow rose 20.57, or 0.15 percent, to close at 13,971.55.

Broader stock indicators ended mixed. The Standard & Poor's 500 index slipped 0.15, or 0.01 percent, to 1,549.37 having set its own record highs in recent sessions. The Nasdaq composite index rose 14.96, or 0.55 percent, to 2,712.29.

Declining issues outnumbered advancers by about 3 to 2 on the New York Stock Exchange, where consolidated volume came to 2.96 billion shares compared with 2.70 billion shares traded Monday.

Bonds fell, with the yield on the benchmark 10-year Treasury note rising to 5.06 percent from 5.04 percent late Monday. The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude fell 13 cents to $74.02 per barrel on the New York Mercantile Exchange, after trading as high as $75.35 per barrel. Oil hasn't closed above $75 since last August.

The short time that it took the Dow to pass this its milestone recalls its ascent during the dot-com boom, especially because it took only 129 days to make the passage from 12,000 to 13,000. In the late 1990s, the Dow took just 24 days to go from 10,000 to 11,000, and 89 days to go from 6,000 to 7,000.

The end of the high-tech boom plus the recession and the aftermath of the Sept. 11, 2001, terror attacks helped send all the major market indexes into reverse. It took the Dow 7 1/2 years to trek from 11,000 to 12,000, and only last October began setting its first record highs since January 2000. The Dow has since logged 53 record closes including Tuesday's gains.

The Dow's run from 13,000 to 14,000 has been led by big-name manufacturers and producers rather than the financial or drug companies that also populate the Dow. Diversified manufacturer 3M Co., construction-equipment maker Caterpillar Inc., aluminum producer Alcoa Inc. and energy company Exxon Mobil Corp. were among the biggest contributors to the Dow's move, while financial services company JP Morgan Chase & Co. and Johnson & Johnson were laggards.

The S&P 500 has also surpassed its early 2000 highs, reaching a new closing high last month and last week surpassing its trading high. The Nasdaq, which was inflated by the high-tech boom, is not expected to approach its closing high of 5,048.62 made in 2000 in the foreseeable future.

The move higher Tuesday came as Wall Street sorted through a somewhat mixed inflation reading and profit reports from blue chip names including Coca-Cola Co.

The gains also follow the Labor Department's report that inflation at the wholesale level fell in June but the so-called core figure, which excludes often-volatile food and energy costs, heated up more than expected. Wall Street appeared unfazed by the increase in the core reading as it largely stemmed from higher vehicle prices.

Rising prices in recent months have unnerved some investors, who are concerned that inflation will hamper consumers' ability to keep up their spending.

The flurry of news this week could affirm or undermine Wall Street's recent confidence. Eleven of the Dow components report quarterly financial results.

Among the companies weighing in Tuesday, Coca-Cola saw its second-quarter profit rise 1 percent as sales at the world's largest beverage maker rose 19 percent. Case volume slipped 2 percent in the company's key North America market, however. The stock fell 68 cents to $53.17.

Word of buyouts continued, as Dutch chemicals company Basell agreed to acquire U.S. rival Lyondell Chemical Co. for $12.1 billion in cash. Including debt, the deal's size totals about $19 billion. Lyondell jumped $6.93, or 17.3 percent, to $47.05.

In market action abroad, Britain's FTSE 100 fell 0.58 percent, Germany's DAX index fell 0.83 percent, and France's CAC-40 fell 0.43 percent. In Asia, Japan's Nikkei stock average fell 0.12 percent.

The Russell 2000 index of smaller companies rose 1.42, or 0.17 percent, to 849.89.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed DOWN by 53 points on Wednesday July 18:

Sym Last.......-........Change..........
Dow	13,918.22	Down 53.33 (0.38%)
Nasdaq	2,699.49	Down 12.80 (0.47%)
S&P 500	1,546.17	Down 3.20 (0.21%)
10-Yr Bond	5.0100% 	Down 0.0680
NYSE Volume	3,648,601,000
Nasdaq Volume	2,268,714,000

Overseas
Japan's Nikkei stock average closed down 1.11 percent. At the close, Britain's FTSE 100 fell 1.34 percent, Germany's DAX index fell 1.80 percent, and France's CAC-40 fell 1.69 percent.

http://biz.yahoo.com/ap/070718/wall_street.html?.v=64
*Stocks Retreat on Bernanke Comments*
Wednesday July 18, 7:08 pm ET
By Joe Bel Bruno, AP Business Writer
*Wall Street Snaps Rally Amid Bernanke Comments, Hedge Fund Concerns, Lower Profit Forecasts*

NEW YORK (AP) -- Wall Street retreated Wednesday but managed a late-day partial recovery as investors reacted uneasily to Federal Reserve Chairman Ben Bernanke's comments on the economy and news that two Bear Stearns Cos. hedge funds were essentially worthless.

Even without any bad news, a downturn in stocks was expected after the rally that began last week. On Tuesday, the Dow nudged past the 14,000 mark for the first time. With no major catalyst behind the advance, the record run has perhaps been puzzling to market watchers trying to determine if it has room to build or has run its course.

Investors sold off shares as Bernanke, speaking before the House Financial Services panel as part of the central bank's midyear forecast, said the economy should strengthen into 2008 and inflation risks remain the Fed's "predominant" concern. He also said the housing sector might get worse before it gets better -- and remains a risk to consumer spending and overall economic growth.

Analysts said the Fed chief's testimony didn't contain anything new, but that it still had a cautious overtone. Bernanke's comments exacerbated investors' concern over news that the Bear Stearns funds were left essentially worthless by bad bets on subprime loans, and lackluster quarterly earnings reports.

"Bernanke didn't really say a whole lot of things that were new, but he added to a combination of seemingly negative events," said Todd Salamone, director of trading at Schaffer's Investment Research. "But, investors are already reeling from Bear Stearns' hedge funds sparking more subprime fears, and new worries about earnings."

Corporate earnings reports continued in earnest. JPMorgan Chase & Co. posted better-than-expected earnings, but the bank said it increased reserves set aside to cover mortgage losses. Also adding to investor concern, Intel Corp. reported lackluster profit margins for the second quarter, and Yahoo Inc. lowered its forecast.

The Dow fell 53.33, or 0.38 percent, to 13,918.22. The blue chip index was down by as much as 134 points during the session; a late-afternoon rebound wasn't unexpected given the market's recent volatility.

Broader indexes also fell. The Standard & Poor's 500 index fell 3.20, or 0.21 percent, to 1,546.17, while the Nasdaq composite index dropped 12.80, or 0.47 percent, to 2,699.49.

Bonds rose as fixed-income investors interpreted Bernanke's comments on housing as favorable; they're looking for interest rates to at least remain stable. The yield on the benchmark 10-year Treasury note fell to 5.03 percent from 5.07 percent late Tuesday. The dollar was mixed against other major currencies, while gold prices rose.

A barrel of light sweet crude rose $1.03 to $75.05 on the New York Mercantile Exchange. Oil rose after the U.S. Department of Energy said gasoline stockpiles unexpectedly fell, despite a bigger-than-expected rise in refinery operations.

The market had more bad news from the housing industry when builder Pulte Homes Inc. reported late Tuesday it expects to post a hefty loss from continuing operations for the second quarter, due to large charges and a worsening consumer environment. Shares of the company fell 52 cents, or 2.3 percent, to $22.19.

Bear Stearns late Tuesday said its hedge funds were squeezed by wrong-way bets on the direction of the mortgage market, which has been struggling with a spike in defaults among risky borrowers. Shares dropped 57 cents to $139.34.

JPMorgan Chase, the nation's third-largest bank, said Wednesday its earnings rose 20 percent in the second quarter amid benefits from a surge in investment banking fees. However, Chief Executive Jamie Dimon said the firm remains on guard for a possible fallout from the mortgage industry, and shares fell $1.04, or 2.1 percent, to $48.88.

Investors also sifted through the latest inflation reading. The Labor Department said its Consumer Price Index rose 0.2 percent in June following a big 0.7 percent jump in May. The reading was in line with market expectations and had little effect on index futures trading.

Core inflation, which excludes often volatile energy and food costs, also rose a moderate 0.2 percent last month.

The Commerce Department also said Wednesday home construction rose 2.3 percent in June following two consecutive months of declines. Wall Street had expected a more modest increase.

The tame readings on consumer prices could help ease some concerns about inflation, which remains among Wall Street's chief concerns. Investors are hoping rising prices won't prompt the Federal Reserve to put off an eventual interest rate reduction or even to raise rates. Even if the Fed doesn't act, higher costs could prompt some consumers to curtail their spending. Such a retrenchment could dent corporate profits.

"Everyone was looking for an uptick in the data, or some kind of information that would provide an optimistic forecast," said Doug Roberts, chief investment strategist for Channel Capital Research. "Although there was really very little new information coming from Bernanke, it was still like the third out in a triple play when you combine it with poor earnings reports and the credit report from Bear Stearns."

In other corporate news, Intel reported second-quarter profits that met Wall Street's expectations after the bell Tuesday but turned in weak profit margins because of lower chip prices. Shares fell $1.27, or 4.8 percent, to $25.06.

Yahoo reported a 2 percent decline in its second-quarter earnings and brought down its forecast for the year. Shares fell $1.33, or 4.8 percent, to $26.20.

Altria Group Inc., parent of the Philip Morris cigarette companies, saw its second-quarter profit fall 18.3 percent but reported higher earnings from continuing operations as well as increased revenue. The company, one of the 30 that comprise the Dow industrials, lowered its full-year earnings forecast. The stock declined 98 cents to $70.30.

United Technologies Corp., also a Dow component, fell $1.28 to $75.56 after it reported a 4 percent increase in its second-quarter earnings amid growth in the conglomerate's commercial aerospace and construction businesses.

Declining issues outpaced advancers 2-to-1 on the New York Stock Exchange, where consolidated volume came to 3.55 billion, compared with 2.98 billion on Tuesday.

The Russell 2000 index of smaller companies was fell 3.98, or 0.47 percent, to 845.91.

Overseas, Japan's Nikkei stock average closed down 1.11 percent. At the close, Britain's FTSE 100 fell 1.34 percent, Germany's DAX index fell 1.80 percent, and France's CAC-40 fell 1.69 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 82 points on Thursday July 19:

Sym Last.......-........Change..........
Dow	14,000.41	Up 82.19 (0.59%)
Nasdaq	2,720.04	Up 20.55 (0.76%)
S&P 500	1,553.08	Up 6.91 (0.45%)
10-Yr Bond	5.03% 	Up 0.02
NYSE Volume	3,263,356,000
Nasdaq Volume	2,272,388,000

In market action abroad
Japan's Nikkei stock average rose 0.56 percent. Britain's FTSE 100 rose 1.11 percent, Germany's DAX index rose 1.24 percent, and France's CAC-40 rose 1.16 percent.

http://biz.yahoo.com/ap/070719/wall_street.html?.v=48
Dow Ends at 14,000 on Upbeat Earnings
Thursday July 19, 6:38 pm ET
By Tim Paradis, AP Business Writer
Stocks Climb Following Mostly Upbeat Earnings Reports; Dow Closes at 14,000.41

NEW YORK (AP) -- Wall Street moved soundly higher Thursday, sending the Dow Jones industrials to their first close above 14,000 as investors kept jitters about the economy at bay and focused on a string of upbeat earnings reports. The Standard & Poor's 500 index also had a record close.

Profit news from companies like International Business Machines Corp., network equipment maker Juniper Networks Inc., and business software company SAP AG help lift stocks and boosted investors' appetite for technology issues. However, the momentum could be short-lived as Google Inc. after the closing bell Thursday turned in a second-quarter profit that fell short of Wall Street's high expectations.

Resurgent concerns about the health of subprime loans, which are made to borrowers with poor credit history, generally hurt financial stocks, while a report that a would-be suitor for Alcoa Inc. had lost interest kept the Dow Jones industrial average from extending its gains.

The flurry of corporate news Thursday coincided with Fed Chairman Ben Bernanke's return to Capitol Hill for the second day of his midyear report to Congress in which he said problems such as foreclosures among holders of subprime mortgages are "likely to get worse before they get better." Also, a research group predicted Thursday that the housing slump will cause the economy to contract slightly in coming months.

"I think we are seeing people trying to decide whether earnings are sustainable," said Jeffrey Dunham, principal at Dunham & Associates in San Diego. He said the stock market's recent run-up in part reflects investors' desire not to miss out on gains.

"I don't see any big conviction by anybody to leap into the market but we're all terrified to not be players. It's gone awfully far in an awfully short time and the market is trying to figure out 'Is this a head-fake or is this the real deal?'"

The Dow rose 82.19, or 0.59 percent, to 14,000.41. The blue chip index danced around the 14,000 mark during the session, having first reached it on Tuesday but not closing above that level until Thursday. The Dow's close topped the previous record of 13,971.55 set Tuesday and marked the index's 32nd record close of the year.

Broader stock indicators also gained Thursday. The S&P 500 rose 6.91, or 0.45 percent, to 1,553.08; its previous record of 1,552.50 occurred Friday. The technology-focused Nasdaq composite index rose 20.55, or 0.76 percent, to 2,720.04, following the upbeat tech earnings.

Though stocks briefly shed some gains after newly released minutes from the Federal Reserve's last meeting appeared to confirm that the central bank has no plans to cut rates anytime soon, investors resumed buying in short order.

Bonds showed little overall movement. The yield on the benchmark 10-year Treasury note was flat at 5.03 percent from late Wednesday. The dollar was mixed against other major currencies, while gold prices rose.

The stock market's rise came even as oil moved higher. Light, sweet crude settled up 87 cents at $75.92 per barrel on the New York Mercantile Exchange after briefly touching $76 for the first time in 11 months.

Thursday's gains extended a partial recovery that started late in Wednesday's session, when the Dow pulled itself up from a loss of 134 points to end with only a 53-point deficit. Stocks had ceded ground Wednesday amid uneasiness about Bernanke's assessment of the economy, though analysts subsequently noted there was little new in his comments.

In economic news Thursday, the Conference Board said its Index of Leading Economic Indicators fell 0.3 percent, showing a steeper decline than the 0.1 percent decrease Wall Street had expected. The group predicts housing will cause the economy to slow.

The Fed's minutes came as no surprise to investors who largely had given up hopes for lower rates this year. But reminders of the Fed's stance can set off selling.

Concerns about the effects of the housing slowdown, which have damped investor sentiment to varying degrees in recent months, seemed to re-emerge Thursday as Bernanke responded to Congressional questioning on the matter.

Nervousness had returned Wednesday following word that two Bear Stearns Cos. hedge funds were rendered essentially worthless by bad bets on the subprime lending market, which targets borrowers with poor credit. As home values in some parts of the country have drifted lower, those behind on payments have found it harder to tap into their home equity to square away their debts.

"There is a lot of bad news in the marketplace," Dunham said, citing oil prices, concerns about an unraveling of subprime loans and uncertainty about interest rates. He said, however, that if earnings remain robust and if interest rates eventually come down investors could look past some of their concerns and send the Dow and the rest of the stock market higher.

"We don't have another '99 occurring here," he said, referring to the stock market run-up in 1999 that preceded the dot-com collapse. "Things haven't reached stupid levels."

On Thursday, earnings held Wall Street's interest. IBM, one of the 30 stocks that make up the Dow industrials, jumped $4.78, or 4.3 percent, to $115.86 after the technology company said strength in its software division and an improvement in its services business helped second-quarter profits. The company raised its profit forecast for the year. Its stock surged past an earlier 52-week high of $111.88, rising as high as $116.48.

Google's second-quarter earnings rose 28 percent but the Internet search company's per-share profit totaled $3.56 per share excluding items. Analysts, on average, had expected $3.59 per share, according to Thomson Financial. Google fell to $504.11 in after-hours electronic trading, down 8.1 percent from its regular-session close of $548.59.

Also in tech news, Microsoft Corp. fell 51 cents to $31 in after-hours trading, after disappointing investors following several robust quarters that beat analyst estimates. Thursday's results were in line with estimates.

Juniper Networks Inc. reported it swung to a profit in the second quarter from a loss a year earlier. The stock rose $3.33, or 12.5 percent, to $30.06; the stock topped a previous 52-week high of $27.99 and traded as high as $30.97.

Germany's SAP rose $3.59, or 6.9 percent, to $55.54 after reporting market-share gains boosted profits. The stock also hit a 52-week high, trading up to $56.20. The previous high was $55.96.

Alcoa, also a Dow stock, fell $1.83, or 3.9 percent, to $44.62 after The Australian newspaper reported that BHP Billiton dropped plans to make a bid for the aluminum producer.

Advancing issues outnumbered decliners by about 2 to 1 on the New York Stock Exchange, where consolidated volume came to 3.19 billion shares, compared with 3.55 billion Wednesday.

The Russell 2000 index of smaller companies rose 5.94, or 0.70 percent, to 851.85.

In market action abroad, Japan's Nikkei stock average rose 0.56 percent. Britain's FTSE 100 rose 1.11 percent, Germany's DAX index rose 1.24 percent, and France's CAC-40 rose 1.16 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 149 points on Friday July 20:

Sym Last.......-........Change..........
Dow	13,851.08	Down 149.33 (1.07%)
Nasdaq	2,687.60	Down 32.44 (1.19%)
S&P 500	1,534.10	Down 18.98 (1.22%)
10-Yr Bond	4.9560% 	Down 0.0720
NYSE Volume	3,751,204,000
Nasdaq Volume	2,395,986,000

In market action abroad
Japan's Nikkei stock average rose 0.23 percent. Britain's FTSE 100 fell 0.83 percent, Germany's DAX index fell 1.46 percent, and France's CAC-40 fell 1.79 percent.

http://biz.yahoo.com/ap/070720/wall_street.html?.v=48
Stocks Fall After Dow, S&P 500 Records
Friday July 20, 8:47 pm ET
By Tim Paradis, AP Business Writer
*Stocks Drop Following Results From Caterpillar, Google*

NEW YORK (AP) -- Wall Street pulled back Friday, retreating from record levels following disappointing results from longtime favorites Caterpillar Inc. and Google Inc. The Dow Jones industrials fell nearly 150 points.

The drop in stocks capped a losing week for the Dow after three weeks of gains, and came a day after the blue chips finished above 14,000 for the first time. The Standard & Poor's 500 index likewise logged a record close Thursday.

While Friday's retrenchment might not be surprising following weeks of somewhat volatile trading and the big gains Thursday, Caterpillar has been one of the best-performers among the 30 stocks that make up the Dow and a big contributor in the blue chips' march to 14,000. The heavy equipment maker unnerved investors when its results came in well below expectations.

Jitters over subprime lending also weighed on the stock market, and led investors to buy up safer Treasury bonds instead. As Treasury prices rose, the benchmark 10-year note's yield dropped sharply to 4.95 percent from 5.03 percent late Thursday.

Meanwhile, technology shares took a hit after a strong run Thursday. Google turned in a second-quarter profit that fell short of Wall Street's high expectations, while Microsoft Corp.'s earnings report wasn't impressive enough to alleviate investors' concerns about the sector.

"As people start to absorb the numbers and start to see the second-quarter numbers aren't good as the first quarter, that starts to create some pullback a bit," said Nick Raich, director of research at National City Private Client Group.

The Dow fell 149.33, or 1.07 percent, to 13,851.08. The index earlier declined by as many as 200 points, and finished the week down 0.40 percent.

Broader stock indicators also lost ground. The S&P 500 index fell 18.98, or 1.22 percent, to 1,534.10, and ended the week 1.19 percent lower.

The Nasdaq composite index fell 32.44, or 1.19 percent, to 2,687.60, and finished down 0.72 percent for the week.

Not only was Wall Street busy digesting the first sizable disappointments of the second-quarter earnings season, but investors also dealt with added volatility because of the expiration of four types of options contracts -- an occurrence known as quadruple witching.

The dollar was lower against most other major currencies. Gold prices rose. Light, sweet crude fell 35 cents to $75.57 a barrel on the New York Mercantile Exchange Friday, after trading above $76 a day earlier for the first time in 11 months.

Looking past high oil prices, which can stoke inflation, stocks forged gains earlier this week in part on earnings news. Of the 130 companies in the S&P 500 that have reported quarterly results, earnings growth has been 1 percent, Raich said. He noted companies were expected to show flat profits so the results are better than expected. Still, he said, "the margin by which companies are beating estimates in the second quarter is so far the lowest we've seen in five years.

"With some high expectations and some complacency in the market, the chances of a near-term pullback have gone up over the past month," he said, arguing that Wall Street's expectations for corporate profit growth are too high.

Caterpillar cited lackluster sales in North American construction markets as well as a bigger-than-expected increase in operating costs. However, the company left its full-year profit forecast unchanged. Caterpillar was the weakest performer among the Dow stocks, falling $3.78, or 4.4 percent, to $83.20.

Google fell $28.47, or 5.2 percent, to $520.12 after its earnings before certain costs missed Wall Street's forecast. Still, the company saw revenue jump 58 percent to $3.87 billion. Investors also fretted as profit margins narrowed as the company spent to hire more workers and acquire content for its Web sites.

Microsoft, which like Caterpillar is part of the Dow, fell 35 cents to $31.16 after its earnings met expectations but failed to dazzle investors after several robust quarters that topped forecasts.

While no major economic news was released Friday, St. Louis Federal Reserve President William Poole weighed in on the subprime mortgage market in a speech in St. Louis. He argued Wall Street was right to punish shares of companies that made bad bets by offering loans to borrowers with spotty credit history.

Concerns about an unraveling of subprime loans have dotted Wall Street's advance in recent months. Investors grew skittish earlier in the week -- helping send stocks lower in Wednesday's session -- following word that two Bear Stearns Cos. hedge funds were left essentially worthless following bad bets on the subprime lending market. As home values in parts of the country have fallen, some borrowers behind on payments have found it harder to tap into their home equity to square away their debts.

Fed Chairman Ben Bernanke warned Thursday that the situation with subprime loans would grow worse before improving.

Declining issues outnumbered advancers by more than 3 to 1 Friday on the New York Stock Exchange, where consolidated volume came to 3.65 billion shares, up from 3.19 billion shares on Thursday.

The Russell 2000 index of smaller companies fell 15.41, or 1.81 percent, to 836.44.

In market action abroad, Japan's Nikkei stock average rose 0.23 percent. Britain's FTSE 100 fell 0.83 percent, Germany's DAX index fell 1.46 percent, and France's CAC-40 fell 1.79 percent.

The Dow Jones industrial average ended the week down 56.17, or 0.40, at 13,851.08. The Standard & Poor's 500 index finished down 18.40, or 1.19 percent, at 1,534.10. The Nasdaq composite index ended down 19.40, or 0.72 percent, at 2,687.60.

The Russell 2000 index finished the week down 19.33, or 2.26 percent, at 836.44.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 15,506.48, down 194.47 for the week. A year ago, the index was at 12,520.43.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


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## bigdog

http://www.smh.com.au/news/Business...on-Wall-St-fall/2007/07/22/1185042934834.html

Stocks set to open lower on Wall St fall
July 22, 2007 - 5:19PM

The Australian share market is expected to open lower on Monday following sharp losses on Wall Street spurred by disappointing company profit results and growing concerns about subprime mortgages.

Local investors will be bracing for the latest quarterly inflation data, released on Wednesday, which will be a crucial influence on the direction of interest rates.

They will also be watching the local hedge fund industry amid concerns more players could meet the fate of Basis Capital.

One of the Australian group's $1 billion hedge funds has been brought to the brink of collapse by its exposure to the US subprime mortgage crisis.

"Australian investors will have to assess the likelihood of a domino effect emerging with confirmation that further local hedge funds may have an imprudent exposure to low quality US credit," MFS chief investment officer Guy Hutchings said.

Mr Hutchings thinks the benchmark ASX200 index will fall about 40 points on Monday, mirroring the fall on US markets.

The Dow Jones industrial average tumbled 149.33 points, or 1.07 per cent, on Friday to 13,851.08.

US bellwether stock Caterpillar's quarterly earnings fell on declining sales of construction equipment, indicating further weakness in the US housing market, and internet giant Google was hurt by increased operating costs.

US federal reserve chairman Ben Bernanke poured more fuel on the subprime fire last week, estimating losses from the troubled sector, which has already knocked over two Bear Stearns hedge funds, could be as much as $A140 billion.

Housing affordability and rising arrears are also emerging as problems in some parts of Australia, particularly on the outskirts of Sydney.

Any rise in interest rates would exacerbate the problem, but inflation results released this week are expected to be relatively benign.

The June quarter consumer price index (CPI) will be released on Wednesday, while the quarterly producer price index will come out on Monday.

AMP Capital Investors chief economist Shane Oliver expects year-on-year inflation to fall back to 1.8 per cent after the banana and petrol price surge from last year is no longer included in calculations, and a strong Australian dollar pulls down the price of imported goods.

"However, the key will be what happens to the underlying measures of inflation," Dr Oliver said.

He expects underlying year-on-year inflation to be about 2.7 per cent.

"This is probably not strong enough to warrant a move on interest rates, but anything stronger could prompt RBA concern.

"After two quarters of inflation surprising on the downside, the risk is probably on the upside."

Commsec is predicting a year-on-year inflation rate of about 1.9 per cent, which it said is a seven and a half year low.

Notable companies reporting earnings this week include industrial conglomerate Alesco, which reports its full-year earnings, and Energy Resources Australia, which issues its half-year result.

Quarterly production reports are due from BHP Billiton, Oil Search, Santos, Newcrest Mining, Lihir Gold and Santos.


----------



## bigdog

The NYSE DOW closed HIGHER by 92 points on Monday July 23:

Sym Last....... ........Change..........
Dow	13,943.42	Up 92.34 (0.67%)
Nasdaq	2,690.58	Up 2.98 (0.11%)
S&P 500	1,541.57	Up 7.47 (0.49%)
10-Yr Bond	4.9640% 	Up 0.0080
NYSE Volume	3,102,701,000
Nasdaq Volume	2,123,171,000

Overseas
Japan's Nikkei stock average rose 0.01 percent, while Hong Kong's Heng Seng Index rose 0.32 percent and the often-volatile Shanghai Composite Index rose 3.81 percent. 

Britain's FTSE 100 rose 0.60 percent, Germany's DAX index rose 0.88 percent, and France's CAC-40 advanced 0.87 percent.

http://biz.yahoo.com/ap/070723/wall_street.html?.v=43
Stocks Up on Buyout News, Merck Earnings
Monday July 23, 5:16 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Rebound Following Buyout News, Strong Earnings From Merck 

NEW YORK (AP) -- Stocks rebounded Monday after a fresh round of buyout news offered evidence that Wall Street's penchant for dealmaking hasn't disappeared.

Better-than-expected profit news from Merck & Co. also boosted the mood on Wall Street, helping it partially recover from a steep sell-off Friday that was triggered by some weak earnings reports and worries about souring subprime loans.

The stock market pushed those concerns aside Monday after Transocean Inc., the world's largest offshore drilling contractor, and rival GlobalSantaFe Corp. said they agreed to merge. The combined company will have a market value of about $53 billion.

In addition, equipment rental company United Rentals Inc. agreed to be taken private by affiliates of Cerberus Capital Management LP for about $4 billion in cash, while British bank Barclays PLC said it would raise its offer for ABN Amro Holding NV to $93.2 billion to fight a rival bid.

The turnaround from Friday's retrenchment demonstrates the market's resiliency, but also raises questions of whether the short-lived nature of most of this year's pullbacks means stocks are rising on a rickety foundation, said Ted Aronson, a partner at Aronson Johnson Ortiz in Philadelphia. Like many investors, he sees retreats as a healthful break for ascendent markets.

"We had a correction for a day. It's amazing. I think the market has gone too far, too fast. With that said, there is no doubt that the market is just amazingly strong," Aronson said.

The Dow Jones industrial average rose 92.34, or 0.67 percent, to 13,943.42, thanks in large part to a 6.75 percent rise in Merck's shares. At times during the session, the Dow was up more than 100 points.

Broader stock indicators also advanced. The Standard & Poor's 500 index rose 7.46, or 0.49 percent, to 1,541.56. The technology-heavy Nasdaq composite index showed more modest gains, rising 2.98, or 0.11 percent, to 2,690.58.

Bonds fell, with the yield on the benchmark 10-year Treasury note rising to 4.96 percent from 4.95 percent late Friday. Bond prices move opposite yields. The dollar was mixed against other major currencies after hitting a new record low against the euro and a new 26-year low against the British pound. Gold prices fell.

Light, sweet crude fell 90 cents to $74.89 per barrel on the New York Mercantile Exchange on suggestions that OPEC may increase its output.

The resumption of the market's climb comes on a day absent any major economic news and appeared to at least temporarily quiet some concerns that a souring of subprime loans, those made to borrowers with poor credit, will upend the market's advance. Uneasiness over bad loans and a resulting tightening of credit standards could stanch the huge flow of capital that has enabled much of the market-advancing buyout activity in recent years.

"All markets have risk. It's almost as if the market says there's no risk," Aronson said, citing his concerns about subprime loans. "Long-term I'm optimistic but it's one thing to be optimistic and it's another thing to believe in the tooth fairy."

But Wall Street applauded Monday's buyout news, because corporate tie-ups tend to signal that companies are bullish about the economy.

The Transocean/GlobalSantaFe combination also reflects strong demand as energy companies can afford to spend more on difficult-to-extract supplies. Oil prices touched nearly one-year highs last week. Under the terms of the deal, Transocean shareholders will receive $33.03 and 0.6996 shares of the combined company for each share of Transocean they own, and shareholders of GlobalSantaFe will receive $22.46 and 0.4757 shares of the company for each share of GlobalSantaFe they own.

Transocean rose $5.99, or 5.5 percent, to $115.96, while GlobalSantaFe rose $3.59, or 4.8 percent, to $78.33.

The United Rentals deal, for $34.50 per share, represents a 7 percent premium over United's closing price Friday. It is also a 25 percent premium to the stock's closing price of $27.55 on April 10, the day the company said it was exploring strategic options. In Monday's trading, United Rentals rose 61 cents to $32.98.

While the merger news helped convince Wall Street that stocks have further room to run even after hitting fresh highs last week, earnings news again commanded some attention.

Merck reported a 12 percent increase in its second-quarter earnings. Merck, the best performer Monday among the 30 stocks that comprise the Dow, rose $3.31 to $52.33.

American Express Co., which like Merck is a Dow component, reported a stronger-than-expected second-quarter profit. The credit card issuer ended the regular session up 15 cents at $64.66 but slipped in after-hours trading as revenue fell short of Wall Street's forecast.

On Friday, lackluster profit reports from Caterpillar Inc. and Google Inc. raised concerns about the overall strength of corporate earnings, and were in part responsible for a nearly 150-point drop in the Dow.

The drop capped a losing week for the Dow after three weeks of gains. Last Thursday, the Dow managed to finish above 14,000 for the first time and the Standard & Poor's 500 index also logged a record close.

Declining issues outnumbered advancers by about 8 to 7 on the New York Stock Exchange, where volume came to 1.52 billion shares.

The Russell 2000 index of smaller companies fell 0.82, or 0.10 percent, to 835.62.

Overseas, Japan's Nikkei stock average rose 0.01 percent, while Hong Kong's Heng Seng Index rose 0.32 percent and the often-volatile Shanghai Composite Index rose 3.81 percent. Britain's FTSE 100 rose 0.60 percent, Germany's DAX index rose 0.88 percent, and France's CAC-40 advanced 0.87 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 226 points on Tuesday July 24:

Sym Last....... ........Change..........
Dow	13,716.95	Down 226.47 (1.62%)
Nasdaq	2,639.86	Down 50.72 (1.89%)
S&P 500	1,511.04	Down 30.53 (1.98%)
10-Yr Bond	4.9440% 	Down 0.0200
NYSE Volume	4,115,828,000
Nasdaq Volume	2,593,370,000

Overseas
Japan's Nikkei stock average fell 0.21 percent. Britain's FTSE 100 dropped 1.90 percent, Germany's DAX index fell 1.73 percent, and France's CAC-40 fell 1.69 percent.

http://biz.yahoo.com/ap/070724/wall_street.html?.v=49
Stocks Retreat on Earnings; Dow Sinks
Tuesday July 24, 5:36 pm ET 
By Lauren Villagran, AP Business Writer  
Wall Street Retreats Amid Disappointing Earnings Reports, Subprime Concerns 

NEW YORK (AP) -- Wall Street pulled back sharply Tuesday as investors dealt with disappointing earnings reports and rising concerns about the mortgage market. The Dow Jones industrials fell more than 200 points.

DuPont Co. was the Dow's biggest loser after the chemical maker reported flat second-quarter profit, as improving sales abroad balanced the ongoing weakness in the U.S. housing and automotive markets. Fellow Dow component American Express Co. said late Monday its quarterly profit climbed 12 percent on record card member spending. However, the nation's third-largest credit card brand said cardholders are also shirking more payments.

Tuesday's retreat was not surprising, given that the market's recent move into record territory above 14,000 came before companies began reporting quarterly results in earnest. Many investors bet that results would be better than has been the case. A profit warning from mortgage lender Countrywide Financial Corp. Tuesday also reminded investors that troubles in the subprime market persist.

The Dow gave up 226.47, or 1.62 percent, closing at 13,716.95. The drop was the average's biggest since March 13, when the Dow tumbled 242 points, also amid concerns that the subprime woes could infect the broader lending industry.

Twenty-nine of the 30 Dow components fell; only Verizon Communications Inc. notched a modest gain.

Other major stock indicators also suffered steep declines. The Standard & Poor's 500 index shed 30.53, or 1.98 percent, to 1,511.04. The Nasdaq composite index lost 50.72, or 1.89 percent,closing at 2,639.86.

Declining issues outnumbered advancers by nearly 10 to 1 on the New York Stock Exchange, where consolidated volume came to a heavy 4.06 billion shares, compared with 3.09 billion shares on Monday.

Following the Dow's move last week over 14,000 for the first time, it "seems logically like the market needs to have some profit-taking," said Joe Ranieri, managing director of U.S. equity trading at Canaccord Adams.

The stock market will likely be driven again by company earnings reports over the next two weeks, he said, as investors try to get a sense of how well corporate profits will hold up in the second half of the year.

Tuesday's decline kept up a pattern of back-and-forth finishes. For the sixth straight session, the market has risen one day and fallen the next.

The shifts may have seemed sharp at times. But Todd Leone, managing director of equity trading at Cowen & Co. noted that, as a percentage of the whole, 100-point swings in the Dow don't register the way they used to, when the index traded at less than 10,000.

"I think we're in a range here," he said. "The market doesn't know what it's looking for."

A steady flow of lackluster earnings reports dictated the glum mood on Wall Street Tuesday.

DuPont and American Express both sank after their earnings reports. DuPont tumbled $3.36, or 6.3 percent, to $49.90, while American Express dropped $3.49, or 5.4 percent, to $61.17.

McDonald's Corp., the world's largest restaurant chain, posted a loss after taking a charge for the sale of its Latin American outlets. Excluding that charge, it reported earnings per share that matched Wall Street expectations. The Dow stock fell 95 cents to $51.55.

Dow component AT&T reported a 61 percent increase in second-quarter earnings, lifted primarily by its buyout of BellSouth Corp. At the same time, the telecommunications company reported fewer activations of Apple Inc.'s iPhone than analysts expected when the much-touted device debuted just before the quarter's end.

AT&T shares fell 35 cents to $39.68, while Apple's stock dropped $8.81, or 6.1 percent, to $134.89. Apple is scheduled to report quarterly results on Wednesday.

In what is perhaps a signal to Wall Street of more woes to come in the mortgage lending market, Countrywide Financial posted sharply lower second-quarter profit and slashed its earnings forecast as mortgage banking earnings were cut in half. Its shares declined $3.56, or 10.5 percent, to $30.50.

The largest U.S. mortgage lender is used as one of the barometers of the housing industry, which has continued to slump amid delinquencies and defaults in subprime loans, or those made to borrowers with weak credit.

The troubles among subprime mortgage lenders have periodically rattled Wall Street this year, leading to sudden plunges as investors feared that the sector's problems would spread to other parts of the economy. The market has generally recovered in a short period of time, but as Tuesday's trading showed, it remains vulnerable to any bad news about mortgages or housing.

Investors received some positive earnings news after the market close: Amazon.com Inc. said second-quarter profit more than tripled on robust online sales of books, music and electronics. The stock ended the regular session down $2.49, or 3.5 percent, at $69.25, then jumped in after-hours electronic trading.

Meanwhile, oil prices receded further from last week's 11-month highs. Light, sweet crude gave up $1.33 to end at $73.56 on the Nymex. Gasoline futures fell.

The Russell 2000 index of smaller companies dipped 23.76, or 2.84 percent, to 811.86.

Overseas, Japan's Nikkei stock average fell 0.21 percent. Britain's FTSE 100 dropped 1.90 percent, Germany's DAX index fell 1.73 percent, and France's CAC-40 fell 1.69 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 68 points on Wednesday July 25:

Sym Last....... ........Change..........
Dow	13,785.07	Up 68.12 (0.50%)
Nasdaq	2,648.17	Up 8.31 (0.31%)
S&P 500	1,518.09	Up 7.05 (0.47%)
10-Yr Bond	4.9040% 	Down 0.0400
NYSE Volume	4,283,198,000
Nasdaq Volume	2,586,997,000

Overseas
Japan's Nikkei stock average fell 0.80 percent. Britain's FTSE 100 slid 0.68 percent, Germany's DAX index lost 1.46 percent, and France's CAC-40 declined 1.19 percent.

http://biz.yahoo.com/ap/070725/wall_street.html?.v=41
Stocks Gain but Lending Woes Remain
Wednesday July 25, 5:36 pm ET
By Madlen Read, AP Business Writer
Wall Street Claws Back on Deals, Positive Profit Reports

NEW YORK (AP) -- Wall Street rose Wednesday on some strong earnings and new deals, but not without a struggle, as mounting signs of a tougher lending climate again dogged investors.

The stock market, coming off Tuesday's 226-point tumble in the Dow Jones industrial average, seesawed throughout Wednesday's session. Ultimately, it drew confidence from better-than-expected quarterly profits at Web retailer Amazon.com Inc. and plane manufacturer Boeing Co., and acquisitions involving German engineering company Siemens AG and drug maker Merck & Co.

Still, some investors worry that deteriorating lending conditions will cork this year's heavy stream of dealmaking. Buyouts usually involve taking on debt, and Wednesday, the banks raising funds for the turnaround of Chrysler Group had to postpone a $12 billion debt offer after investors balked at the deal's terms, according to people familiar with the situation who were not authorized to speak publicly.

Meanwhile, the National Association of Realtors on Wednesday confirmed that the housing market is far from recovery when it reported that sales of existing homes dropped 3.8 percent in June to the slowest rate in more than 4 years. The figure was worse than analysts expected, and followed data from the Mortgage Bankers Association showing mortgage applications fell for the first time in four weeks to a five-month low.

Wall Street, now at the peak of second-quarter earnings season, has been extremely volatile lately. For seven straight sessions, the market has risen one day, fallen the next, then risen again. Over that span, the Dow has lost 165.91 points, or 1.2 percent.

The market will likely remain rocky as investors try to assess whether problems related to home lending will hurt the broader economy.

"It's an open-ended unknown, and that's the problem," said Richard E. Cripps, chief market strategist for St. Louis-based broker Stifel Nicolaus.

The Dow rose 68.12, or 0.50 percent, to 13,785.07, after trading up more than 100 points and down more than 40.

Broader stock indicators also rose in shaky trading. The Standard & Poor's 500 index climbed 7.05, or 0.47 percent, to 1,518.09, and the Nasdaq composite index advanced 8.31, or 0.31 percent, to 2,648.17.

Despite the gains in the major indexes, declining issues outnumbered advancers by about 10 to 7 on the New York Stock Exchange. Consolidated volume came to a heavy 4.14 billion shares, up from 4.06 billion Wednesday.

Treasury bonds rose after the weak housing data prompted investors to buy safe government assets. As bond prices rose, the benchmark 10-year Treasury note's yield decreased to 4.90 percent from 4.95 percent late Tuesday.

Falling home prices have made it harder for some homeowners to refinance their homes, leading to more payment defaults and delinquencies. Home prices are likely to keep weakening, with values still unjustifiably high in many parts of the country, said Rob Lutts, chief investment officer at Cabot Money Management.

"Does that mean that the stock market becomes totally unhinged? I don't think so. This is one factor," Lutts said. Still, he said, the housing market downturn could easily cause a 5 percent to 10 percent correction on Wall Street.

The dollar rose against other major currencies, while gold prices fell.

Light, sweet crude for September delivery shot up $2.32 to $75.88 a barrel on the New York Mercantile Exchange, bouncing back from two straight days of steep declines after the U.S. government Wednesday said crude oil supplies fell last week.

Despite concerns about waning demand for debt, the acquisitions keep coming.

"Corporate balance sheets are very healthy. They're the healthiest they've been in 15, 20 years. I don't see that changing," Lutts said.

Siemens AG, which posted a 54 percent rise in quarterly earnings, said it will sell its VDO auto parts unit to Germany's Continental AG in a $15.67 billion deal and buy diagnostics company Dade Behring Inc. for $7 billion.

Dade Behring jumped $18.17, or 32.5 percent, to $74.08, and Siemens' U.S. shares fell $7.86, or 5.4 percent, to $136.70.

Meanwhile, Merck agreed to buy NovaCardia Inc., a clinical-stage pharmaceutical company with a promising heart disease drug, for $350 million, and said it will update its 2007 earnings forecast when the deal closes.

Merck, one of the 30 Dow companies, advanced $1.66, or 3.2 percent, to $53.38.

Though a few major companies' second-quarter earnings have disappointed investors over the past couple weeks, they got some good earnings news Wednesday.

Boeing, the biggest gainer in the Dow, rose $3.43, or 3.3 percent, to $107.23, after posting a $1.1 billion profit in the second quarter, up from a year-ago loss, and hiking its profit forecast.

Amazon.com surged $16.93, or 24.5 percent, to $86.18, after the Web retailer said its second-quarter profit more than tripled on strong sales of books, music and electronics worldwide.

The Russell 2000 index of smaller companies rose 0.64, or 0.08 percent, to 812.50.

Overseas, Japan's Nikkei stock average fell 0.80 percent. Britain's FTSE 100 slid 0.68 percent, Germany's DAX index lost 1.46 percent, and France's CAC-40 declined 1.19 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 311 points on Thursday July 26:

Sym Last....... ........Change..........
Dow	13,473.57	Down 311.50 (2.26%)
Nasdaq	2,599.34	Down 48.83 (1.84%)
S&P 500	1,482.66	Down 35.43 (2.33%)
10-Yr Bond	4.7770% 	Down 0.1270
NYSE Volume	1,532,066,000
Nasdaq Volume	3,501,757,000

In Europe, Britain's FTSE 100 closed down 3.15 percent, Germany's DAX index dropped 2.39 percent, and France's CAC-40 fell 2.78 percent.

Markets were closed in Asia before the rout got under way. Japan's Nikkei stock average closed up 0.88 percent and the Shanghai stock market composite added 0.52 percent to an all-time high.

http://biz.yahoo.com/ap/070726/wall_street.html?.v=91
*Stocks Plunge; Dow Down More Than 300*
Thursday July 26, 5:44 pm ET
By Joe Bel Bruno, AP Business Writer
*Stocks Plunge on Lending Worries, Dow Industrials Plunge More Than 300 Points*

NEW YORK (AP) -- Wall Street suffered one of its worst losses of 2007 Thursday, leading a global stock market plunge as investors succumbed to months of worry about the mortgage and corporate lending markets. The Dow Jones industrials closed down more than 310 points after earlier skidding nearly 450.

Investors who had been able for months to largely shrug off discomfort about subprime mortgage problems and a more difficult environment for corporate borrowing finally decided it was time to sell after the Commerce Department issued another disappointing home sales report.

Feeding the plunge were concerns that higher corporate borrowing costs will curb the rapid pace of takeovers that had driven stocks higher this year. Investors also feared the sluggish environment for home sales and continued defaults in subprime loans would spur debt defaults and weigh on corporate earnings.

While stocks plummeted, investors poured money into the safe haven of the bond market. The soaring price of Treasurys pulled yields lower, and the rate on the 10-year note plunged to 4.79 percent from late Wednesday's 4.90 percent.

"Worries that have been out there for the past couple of years are coming to a head right now," said investment strategist Edward Yardeni, president of Yardeni Research Inc. "It's show time."

Thursday's trading was the latest and most extreme in a series of frenetic sessions over the past month -- many also accompanied by triple-digit swings in the Dow -- as investors sold on worries about the subprime fallout or bought on optimism that there wouldn't be any widespread problems caused by mortgage failures. Many analysts have described the back-and-forth trading as overwrought and based more on gut emotion than careful consideration of market and economic fundamentals.

That was the feeling again Thursday.

"The rally in bonds at this point looks a little bit overdone," said Tom Higgins, chief economist at Payden & Rygel Investment Management in Los Angeles. "If you're going to park money temporarily then cash I think is the way to be but I think that we're going to form a bottom. I think people are going to be legging it back into the market."

The Dow plunged 311.50 or 2.26 percent, to 13,473.57 after falling 449.77 in earlier trading. The close was its worst since the 416.02 it lost on Feb. 27, when a drop in the Shanghai stock market rattled world exchanges.

Broader market indicators also slid. The Nasdaq composite index tumbled 48.83, or 1.84 percent, to 2,599.34, while the Standard & Poor's 500 skidded 35.43, or 2.33 percent, to 1,482.66.

Before Thursday's big drop, the Dow had been up 10.61 percent for the year -- and that margin has now been cut to 8.11 percent. The S&P 500 was up 7.04 percent, and the market decline now puts it at a year-to-date gain of 4.54 percent; while the Nasdaq's 9.64 percent increase has been cut to 7.62 percent.

The declines triggered a global sell-off in stocks, causing minor losses in Europe to accelerate rapidly along with the Dow's drop. In Europe, Britain's FTSE 100 closed down 3.15 percent, Germany's DAX index dropped 2.39 percent, and France's CAC-40 fell 2.78 percent.

Markets were closed in Asia before the rout got under way. Japan's Nikkei stock average closed up 0.88 percent and the Shanghai stock market composite added 0.52 percent to an all-time high.

Wall Street also found more immediate reasons to sell during the session -- primarily the home sales figures from the Commerce Department, which further eroded confidence in the housing industry's ability to rebound.

The department reported that sales of new homes fell 6.6 percent last month to a seasonally adjusted annual rate of 834,000 units, more than triple what had been expected and the largest percentage drop since sales fell by 12.7 percent in January.

This boosted anxiety after quarterly results from home builders including Pulte Homes Inc. and D.R. Horton Inc. were squeezed by a sluggish environment from home sales and continued defaults in subprime loans.

"Wall Street continues to walk a wall of worry," said Ryan Larson, a senior equity trader at Voyageur Asset Management. "The housing market continues to be a story, and nobody knows when it will rebound. But, the real concerns are about credit and oil pushing higher."

Also stunting stocks was the Commerce Department's disappointing durable goods report. Though sales of big-ticket items increased by 1.4 percent last month to a seasonally adjusted $217.07 billion, durable goods excluding transportation equipment had an unexpected drop.

The Labor Department reported that jobless claims fell by 2,000 to 301,000 in the week ended July 21, slightly better than analysts' expectations.

Investors also reacted negatively as oil prices climbed to almost $77 per barrel during the session, stoking the market's worries about inflation. However, crude pared gains in the afternoon when a barrel of light sweet crude fell 93 cents to $74.95.

It all led to a frantic day for stock traders.

"It has been pretty volatile as of late, but now fears about a credit crunch are spreading more than they have in the past -- and that's causing this drop," said Matt Kelmon, portfolio manager of the Kelmoore Strategy Funds. "That's hurting the financials, and now energy companies are joining the party because oil is so high. They make up a large part of the S&P 500."

Wall Street, now at the peak of second-quarter earnings season, has been extremely volatile lately. On Thursday, declining issues beat advancers by a 14 to 1 basis on the New York Stock Exchange, where consolidated volume came to a record 5.84 billion shares, up from 4.14 billion on Wednesday.

Both NYSE Group Inc. and Nasdaq Stock Market Inc. reported that their electronic trading systems were functioning normally, and no problems had been reported.

Ford Motor Co. rose 12 cents to $8.09 after it reported cost-cutting and a turnaround in its core automotive operations pushed its second-quarter to a profit. The company had posted seven quarters of losses as it grappled with sluggish sales and a major overhaul of its operations.

The Nasdaq's losses weren't as steep as other major indexes during the session due to strength from Apple Inc., which surged $8.74, or 6.4 percent, to $146.00. The iPod and iPhone maker's earnings easily surpassed Wall Street projections late Wednesday due to strong sales from its computer offerings.

Home builders sank after several disappointing reports. D.R. Horton fell 32 cents to $17.16 after it posted a fiscal third-quarter loss on charges to write down the value of unsold inventory and deposits on land.

Pulte fell 63 cents, or 3.1 percent, to $20.04 after it posted a second-quarter loss amid the struggling housing market.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

There has been much action in pre-open trades this morning

Ave SP is this mornings average SP (value/volume)

Code	Last	Ave SP	Volume	.....Value
AWC 	$7.53	$7.79	2,451,000	19,098,500
BHP 	$37.30	$31.90	22,443,000	715,835,519
BLD 	$7.85	$8.25	160,000	1,320,000
BSL 	$11.70	$11.05	1,498,000	16,546,000
BXB 	$11.11	$12.15	5,714,000	69,406,750
FGL 	$6.10	$6.49	4,260,000	27,637,850
JBM 	$15.99	$16.49	1,544,000	25,462,000
LGL 	$3.13	$3.20	10,260,380	32,793,041
NCM 	$25.60	$23.81	1,879,000	44,742,000
ORI 	$29.40	$30.13	153,000	4,610,000
OSH 	$4.00	$3.72	8,074,126	30,034,187
OXR 	$3.80	$3.58	9,034,000	32,319,850
RIO 	$93.88	$91.34	4,039,504	368,968,722
STO 	$13.84	$11.98	8,364,000	100,177,000
TAH 	$16.55	$13.58	1,463,000	19,861,970
WOR 	$35.34	$31.17	6,000	187,000
WPL 	$44.44	$44.63	2,644,000	117,995,000
ZFX 	$19.69	$18.77	2,745,000	51,512,500


----------



## bigdog

The NYSE DOW closed LOWER by 208 points on Friday July 27:

Sym Last....... ........Change..........
Dow	13,265.47	Down 208.10 (1.54%)
Nasdaq	2,562.24	Down 37.10 (1.43%)
S&P 500	1,458.95	Down 23.71 (1.60%)
10-Yr Bond	4.7880% 	Up 0.0110
NYSE Volume	491,433,000
Nasdaq Volume	2,778,386,000

Most Asian markets fell Friday in reaction to the market plunge, while European markets -- which were open during part of the big U.S. drop Thursday -- showed more modest moves Friday. Japan's Nikkei stock average closed down 2.36 percent, while the often-volatile Shanghai composite eased lower by 0.03 percent. Britain's FTSE 100 fell 0.58 percent, Germany's DAX index dropped 0.76 percent, and France's CAC-40 fell 0.55 percent.

http://biz.yahoo.com/ap/070727/wall_street.html?.v=70
*Wall Street Extends Slide; Dow Drops 200[/U]
Friday July 27, 6:42 pm ET
By Tim Paradis, AP Business Writer
Wall Street Extend Declines As Stronger-Than-Expected GDP Fails to Prop Up Market

NEW YORK (AP) -- Wall Street extended its steep decline Friday, propelling the Dow Jones industrials down more than 500 points over two days after investors gave in to mounting concerns that borrowing costs would climb for both companies and homeowners. It was the worst week for the Dow and the Standard & Poor's 500 index in five years.

Investors cast aside a stronger-than-expected read on the economy and maintained negative sentiment that dominated Thursday when the market shuddered amid worries over the U.S. mortgage and corporate lending markets. Investors globally took flight from equities, shifting cash into safer investments in Treasurys.

The pullback Thursday and Friday wiped out $526.1 million in shareholder wealth from the stocks in the Standard & Poor's 500 index.

Although the market has often rebounded after a steep drop -- and has done so in recent weeks -- investors appeared unable Friday to set aside their concerns about a weakening housing market and tightening credit.

A Commerce Department report that the U.S. gross domestic product rose at a better-than-expected pace in the second quarter appeared to do little to quell investors' unease Friday. GDP increased at a 3.4 percent annual rate, indicated that the drag from the housing sector lessened. Economists had expected an increase of 3.3 percent.

Although the GDP reading might have reassured investors that the economy was more than holding up even with soaring fuel prices, it could also raise the possibility that the Federal Reserve, ever vigilant about inflation, might put off a rate cut or even raise rates. Higher rates would exacerbate the market's intensifying concerns about credit.

"I think people are really cautious right now. We're seeing the convergence of a whole host of sort of unrelated or only slightly related issues," said Randy Frederick, director of derivatives at Charles Schwab & Co. He contends market volatility will remain as investors sort through issues such as the availability of credit for corporate buyouts, soured subprime mortgages and rising energy prices.

The Dow fell 208.10, or 1.54 percent, to 13,265.47, with nearly 140 points of that loss coming in the final half-hour of trading. For the week, the index fell more than 585 points, or 4.23 percent. The week's point decline was the worst in five years, while the percentage decline was the largest since late March 2003.

The Dow, which had seen back-and-forth sessions before the declines Thursday and Friday, only last week traded above 14,000 for the first time. The Dow's retrenchment puts it 756 points below its high from last week. That 5.4 percent decline puts it more than halfway toward the technical threshold of a correction, which is 10 percent.

Broader stock indicators also fell Friday. The S&P 500 ended down 23.71, or 1.60 percent, at 1,458.95. For the week, the S&P gave up 4.90 percent. It was the S&P's worst performance, in percentage terms, since the week ended July 19, 2002.

The Nasdaq composite index fell 37.10, or 1.43 percent, to 2,562.24. It was down 4.66 percent for the week, marking the index's worst run since the stock market had a pullback that began Feb. 27.

Small stocks took an especially devastating blow during the week, in part because the global economy is growing faster than that of the United States. Investors often regard profits at larger companies as more likely to hold up amid a U.S. slowdown because much of their business is drawn from overseas.

The Russell 2000 index of small-capitalization stocks fell 13.65, or 1.72 percent, to 777.83. For the week, the index dropped 7.01 percent, the most since September 2001.

Declining issues outnumbered advancers by more than 2 to 1 on the New York Stock Exchange, where consolidated volume came to a heavy 4.82 billion shares compared with a record 5.84 billion shares seen Thursday.

Bonds added to a huge advance logged Thursday as investors clearly sought the relative safety of Treasurys. The yield on the benchmark 10-year Treasury note fell to 4.77 percent from 4.79 percent late Thursday. The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude settled up $2.06 at $77.01 per barrel on the New York Mercantile Exchange, just a penny shy of the record close seen last summer.

Investors seemed little-moved by a stronger-than-expected consumer sentiment reading. The Reuters/University of Michigan index rose to 90.4 in July from 85.3 in June.

"I think we're going to have continued sideways movement with 100 point up-and-down days," said Frederick, referring to the Dow's back-and-forth movements.

"The 14,000 level is going to be tough for this market to get back above," Frederick said.

Still, he said investors shouldn't overreact to the moves, in part because of the gains stocks have logged this year. Before Thursday's decline, the Dow was up 10.6 percent for the year, while the S&P had gained 7.04 percent and the Nasdaq 9.64 percent.

"You look at a 300-point Dow day and it seems like a big day but from a percentage viewpoint it's not a big move," Frederick said.

The volatility that has taken up residence on Wall Street in recent days has perhaps exacerbated concerns of investors grown accustomed to the largely calm markets of recent years. The Chicago Board Options Exchange's volatility index, known as the VIX, and often referred to as the "fear index," jumped Thursday and rose again Friday to its highest level since April 2003.

"My basic belief is that we're in an environment where we're going from extremely low volatility toward normal -- from extremely low credit spreads and perception of risk toward normal," said Bart Geer, portfolio leader of the $3.9 billion Putnam Equity Income Fund.

"You can't have all bull markets all the time. Markets go up and go down. The reason you're well paid in equities is because they do. This is all part of the process."

There was little corporate earnings news for traders to mull over, with about half the Standard & Poor's 500 index already having posted results over the past few weeks. The biggest earnings news came from Chevron Corp., which reported second-quarter profit climbed 24 percent to surpass analyst estimates as the second largest U.S. oil company cashed in on higher gasoline prices. Chevron fell $2.26, or 2.6 percent, to $85.20.

Evidence that not all private-equity deals have screeched to a halt came as Lee Equity Partners LLC struck a deal to acquire retailer Deb Shops Inc. for about $391.1 million. Deb fell 17 cents to $26.51.

Also, medical device maker Medtronic Inc., seeking to expand its spinal products business, said it would acquire device maker Kyphon Inc. for $3.9 billion. Kyphon jumped $12.92, or 24 percent, to $66.60. The stock rose as high as $68.40, moving above its previous 52-week high of $57.10. Medtronic slipped 11 cents to $50.81.

Most Asian markets fell Friday in reaction to the market plunge, while European markets -- which were open during part of the big U.S. drop Thursday -- showed more modest moves Friday. Japan's Nikkei stock average closed down 2.36 percent, while the often-volatile Shanghai composite eased lower by 0.03 percent. Britain's FTSE 100 fell 0.58 percent, Germany's DAX index dropped 0.76 percent, and France's CAC-40 fell 0.55 percent.

The Dow Jones industrial average ended the week down 585.61, or 4.23 percent, at 13,265.47. The Standard & Poor's 500 index finished down 75.15, or 4.90 percent, at 1,458.95. The Nasdaq composite index ended down 125.36, or 4.66 percent, at 2,562.24.

The Russell 2000 index finished the week down 58.61, or 7.01 percent, at 777.83.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 14,710.78, down 795.70 for the week. A year ago, the index was at 12,634.11.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com*


----------



## bigdog

The NYSE DOW closed HIGHER by 92 points on Monday July 30:

Sym Last....... ........Change..........
Dow	13,358.31	Up 92.84 (0.70%)
Nasdaq	2,583.28	Up 21.04 (0.82%)
S&P 500	1,473.91	Up 14.96 (1.03%)
10-Yr Bond	4.8040% 	Up 0.0160
NYSE Volume	4,128,782,000
Nasdaq Volume	2,406,505,000

In Asian trading
Japan's Nikkei stock average rose 0.03 percent, Hong Kong's Hang Seng index rose 0.8 percent, and China's Shanghai Composite Index jumped 2.2 percent to a new record.

In European trading
Britain's FTSE 100 fell 0.15 percent, Germany's DAX index rose 0.06 percent, and France's CAC-40 rose 0.04 percent.

http://biz.yahoo.com/ap/070730/wall_street.html?.v=48
Stocks Close Higher After Pullback
Monday July 30, 5:12 pm ET
By Madlen Read, AP Business Writer
Dow Ends Up 93 As Stocks Push Higher, but Nervousness Remains After Last Week's Pullback

NEW YORK (AP) -- Wall Street found a foothold Monday as investors, still anxious that a credit crunch could crimp U.S. growth, took advantage of low prices after last week's steep losses. The Dow Jones industrial average surged more than 90 points.

Some solid earnings and takeover activity boosted the stock market, which was coming off the Dow's and the Standard & Poor's 500 index's biggest weekly drops in nearly five years. The Dow is still down about 4.8 percent from its July 19 record close of 14,000.41, having caved under worries about a shakier lending climate.

In a sign that aversion to corporate debt hasn't stanched dealmaking, industrial equipment manufacturer Ingersoll-Rand said it's selling its Bobcat earth-moving division and two other units to Korea's Doosan Infracore for $4.9 billion.

And despite rising defaults and delinquencies in mortgage lending, HSBC Holdings PLC, Europe's largest bank by market value, posted a 25 percent rise in first-half earnings. Also, General Motors Corp.'s GMAC Financial Services said second-quarter profit declined but that it expects its residential lending business to improve in the second half of the year.

The market initially wavered between positive and negative territory Monday, but then pushed higher in afternoon trading as investors re-entered the market to scoop up bargains.

"At this point, I'd call it a relief rally," said Henry Herrmann, chief executive officer at investment management firm Waddell & Reed. He noted that stock investors will stay focused on the credit markets for a while, especially as they receive more word on hedge funds' recent performance.

The Dow rose 92.84, or 0.70 percent, to 13,358.31, after falling by as much as 46 points during the session. On Thursday and Friday, the Dow plunged a total of 585 points.

Broader stock indicators also rose. The Standard & Poor's 500 index added 14.96, or 1.03 percent, to 1,473.91, and the Nasdaq composite index advanced 21.04, or 0.82 percent, to 2,583.28.

Bonds fell modestly as stocks gained, driving the 10-year Treasury note's yield up to 4.81 percent from 4.77 percent late Friday. A week ago, the 10-year note's yield was at 4.95 percent, but has since sunk as investors sought safe assets during the stock market's plunge.

Market watchers say the market's credit-related jitters are far from assuaged, and that investors should expect high volatility to continue.

"The mythical investor vacillates between fear and greed," said Kim Caughey, equity research analyst at Fort Pitt Capital Group. She said she regards last week's plunge as an opportunity to buy, albeit selectively.

Morgan Stanley rose 24 cents to $64.61 after Standard & Poor's Ratings Services raised its rating on the investment bank, citing well-executed growth in the investment bank's core businesses. S&P also said structural improvements within Morgan Stanley leave it better positioned than its competitors to weather volatile market conditions that could continue amid concerns about subprime loans, those made to borrowers with poor credit.

Other financial stocks rebounded after being punished last week amid credit concerns. Merrill Lynch & Co. rose $1.45 to $76.71, while Bear Stearns Cos. advanced $4.07, or 3.3 percent, to $127.25. American Express Co. rose $1.59, or 2.7 percent, to $60.14.

In an indication that there is still demand for cheap, risky assets, Chicago-based hedge fund Citadel Investment Group LLC's said it is buying the credit portfolio of Sowood Capital. Sowood is a Boston-based hedge fund that has reportedly suffered sizable bond-related losses.

Ingersoll Rand rose $3.63, or 7.5 percent, to $51.77 on its decision to sell three of its units.

HSBC rose 1.4 percent in London trading after releasing its earnings.

General Motors Corp. rose $1.51, or 4.9 percent, to $32.61, after GMAC reported its financial results.

In other corporate news, RadioShack Corp. said second-quarter sales fell 15 percent compared with a year ago. The electronics retailer dropped $3.25, or 11.3 percent, to $25.55, although it swung to a second-quarter profit from a loss a year ago.

Verizon Communications Inc. posted a rise in second-quarter profit that met expectations, and said Verizon Wireless, its joint venture with Vodafone Group PLC, will buy Rural Cellular Corp. in a deal worth about $757 million.

Verizon, one of the 30 Dow components, fell 49 cents to $41.51. Rural Cellular jumped $10.95, or 34 percent, to $42.76.

High energy prices, which contribute to inflation, remain a concern for investors. Oil futures fell 19 cents to $76.83 a barrel on the New York Mercantile Exchange. On Friday, they finished a penny away from the record close of $77.03 reached July 14, 2006.

The dollar was mixed against other major currencies. Gold prices rose.

The Russell 2000 index of smaller companies rose 6.40, or 0.82 percent, to 784.23 -- back in positive territory for the year after turning negative Friday.

Advancing issues outnumbered decliners by about 2 to 1 on the New York Stock Exchange, where volume came to 2.03 billion shares compared with a heavy 2.27 billion shares Friday.

In Asian trading, Japan's Nikkei stock average rose 0.03 percent, Hong Kong's Hang Seng index rose 0.8 percent, and China's Shanghai Composite Index jumped 2.2 percent to a new record.

In European trading, Britain's FTSE 100 fell 0.15 percent, Germany's DAX index rose 0.06 percent, and France's CAC-40 rose 0.04 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 146 points on Tuesday July 31:

Sym Last....... ........Change..........
Dow	13,211.99	Down 146.32 (1.10%)
Nasdaq	2,546.27	Down 37.01 (1.43%)
S&P 500	1,455.27	Down 18.64 (1.26%)
10-Yr Bond	4.7710% 	Down 0.0330
NYSE Volume	229,558,000
Nasdaq Volume	2,820,603,000

http://ichart.finance.yahoo.com/b?s=^IXIC

In Asian trading
Japan's Nikkei stock average fell 0.23 percent, Hong Kong's Hang Seng index jumped 1.96 percent, and China's Shanghai Composite Index rose 0.7 percent to a new record.

In European trading
Britain's FTSE 100 rose 2.48 percent, Germany's DAX index advanced 1.71 percent, and France's CAC-40 rose 1.85 percent.


http://biz.yahoo.com/ap/070731/wall_street.html?.v=61
*Wall Street Skids on Subprime Anxiety*
Tuesday July 31, 6:11 pm ET
By Madlen Read, AP Business Writer
*Wall Street Rally Fizzles As American Home Mortgage Problems Revive Subprime Anxiety*

NEW YORK (AP) -- Wall Street resumed its downward skid Tuesday, falling sharply as renewed concerns about soured home loans blew away what had looked like a solid recovery rally. The Dow Jones industrials lost nearly 150 points, while investors seeking safety moved into bonds.

Early in the session, stocks soared following strong earnings from General Motors Corp. and Sun Microsystems Inc. and amid somewhat mixed economic data. But the market pulled back after American Home Mortgage Investment Corp. said Tuesday it hasn't been able to tap into its credit lines and has hired advisers to consider its options, including the sale of its assets.

Wall Street has been concerned about lenders after some loans made to borrowers with poor credit have gone bad, and that anxiety contributed to the market's big plunge last week. Tuesday's trading showed how vulnerable the market remains, and how any advance can quickly evaporate.

"Anything that argues for higher (interest) rates and worsening credit conditions will be something that takes the air out of the market," said Denis Amato, chief investment officer at Ancora Advisors. He said the market's short-lived advance was in part made possible by a temporary easing of credit fears.

The Dow fell 146.32, or 1.10 percent, to 13,211.99 after being up as much as 140 points during the session. The move lower undid a nearly 93 point gain the blue chips saw Monday in a partial rebound from the 585 points they lost over the course of Thursday and Friday.

Broader stock indicators fell. The Standard & Poor's 500 index declined 18.64, or 1.26 percent, to 1,455.27, and the Nasdaq composite index fell 37.01, or 1.43 percent, to 2,546.27.

Bond prices, which move opposite yields, rose as investors quickly fled stocks. The 10-year Treasury note's yield fell to 4.75 percent from 4.81 percent late Monday.

Oil prices closed above $78 a barrel for the first time Tuesday on the New York Mercantile Exchange, advancing $1.38 to $78.21.

The dollar was mixed against other major currencies. Gold prices closed higher on the New York Mercantile Exchange.

"Everyone is walking on pins and needles and with the gains that were behind everybody I think they're a little more susceptible to the bad news," Amato said, referring to the tenuous nature of the session's early rally.

The initial gains came after a mixed batch of economic reports. The Commerce Department's year-over-year core personal consumption expenditures -- a closely watched inflation measure -- rose 1.9 percent in June, within the Federal Reserve's comfort zone. The report also showed that personal spending last month inched up 0.1 percent, its slowest pace in nine months.

And while a report from the Conference Board indicated that consumer confidence jumped to a six-year high, June construction spending dipped and the July Chicago purchasing manager's index indicated weaker-than-expected growth. The report is considered a precursor to the Institute for Supply Management's national manufacturing index, which is due Wednesday.

The market had received a boost from better-than-expected earnings from automaker GM and Sun Microsystems, which makes networking equipment. The stock market's gains Monday and decline Tuesday follow last week's sharp pullback, which was fueled by persistent worries that a deteriorating lending environment will make it harder for companies to borrow money.

As the market's about-face Tuesday shows, investors should expect continued volatility, one observer noted.

"The bottom line is volatility has picked up, and it's going to continue to pick up," said Jeff Schappe, chief investment officer at BB&T Asset Management, adding that there is potential for the market to drop another 5 percent. Last week, the Dow Jones industrial average tumbled about 5 percent from its record close of 14,000.41, reached earlier in July.

"I think investors need to not focus on the day-to-day volatility in the market, and look at the longer term," Schappe said. He noted that while credit jitters will likely keep riling the market for a while, the long-term view looks positive.

In corporate news, American Home fell $9.43, or 90 percent, to $1.04 following disclosure of its difficulties.

Adding to unease over American Home, Moody's Investors Service said it is raising its assumptions for losses on pools of Alt-A loans, which are above supbrime but below prime loans in terms of credit quality. The move could stir concerns that credit problems are spreading beyond subprime loans to a higher quality of borrower.

GM fell 21 cents to $32.40. The stock had been up much of the session after releasing its better-than-expected quarterly earnings, but followed the rest of the market lower. The company said it benefited from higher sales in markets worldwide.

Sun Microsystems jumped 21 cents, or 4.3 percent, to $5.10.

Though core inflation -- which strips out volatile food and energy prices -- has been registering at fairly mild levels, many investors are still concerned that energy prices will keep crimping consumer spending.

Investors also remain worried about credit getting tighter due to the faltering housing market. On Tuesday, a housing index released by Standard & Poor's showed that U.S. home prices fell for a fifth consecutive month in May by the steepest drop in about 16 years.

However, merger and acquisition activity hasn't appeared to be damped yet by tougher lending standards.

Billionaire investor Nelson Peltz's Triarc Cos. said he is willing to offer $37 to $41 a share to buy Wendy's International Inc., while The Wall Street Journal reported that its parent company, Dow Jones & Co., and Rupert Murdoch's News Corp. are close to a deal. The Bancroft family, controlling shareholders of Dow Jones, agreed to vote in favor of News Corp's bid, the newspaper reported.

Wendy's rose $1.34, or 4 percent, to $35.03.

Dow Jones shares rose $5.82, or 11.3 percent, to $57.38, while News Corp. fell 18 cents to $22.66.

Declining issues outnumbered advancers by about 9 to 7 on the New York Stock Exchange, where consolidated volume came to 4.18 billion shares compared with 4.04 billion traded Monday.

The Russell 2000 index of smaller companies fell 8.11, or 1.03 percent, to 776.12.

In Asian trading, Japan's Nikkei stock average fell 0.23 percent, Hong Kong's Hang Seng index jumped 1.96 percent, and China's Shanghai Composite Index rose 0.7 percent to a new record.

In European trading, Britain's FTSE 100 rose 2.48 percent, Germany's DAX index advanced 1.71 percent, and France's CAC-40 rose 1.85 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 150 points on Wednesday August 1:

Sym Last....... ........Change..........
Dow	13,362.37	Up 150.38 (1.14%)
Nasdaq	2,553.87	Up 7.60 (0.30%)
S&P 500	1,465.81	Up 10.54 (0.72%)
10-Yr Bond	4.7570% 	Down 0.0140
NYSE Volume	961,805,000
Nasdaq Volume	3,008,886,000

Worries about U.S. home loan defaults haven't affected only the U.S. markets; they have been rippling through the world markets, too.

In Asian trading, Japan's Nikkei stock average fell 2.2 percent, Hong Kong's Hang Seng index dropped 3.2 percent, and China's Shanghai Composite Index dipped 3.8 percent.

Britain's FTSE 100 fell 1.72 percent, Germany's DAX index fell 1.45 percent, and France's CAC-40 fell 1.68 percent.

http://biz.yahoo.com/ap/070801/wall_street.html?.v=43
*Stocks End Higher After Zigzagging*
Wednesday August 1, 6:28 pm ET
By Tim Paradis, AP Business Writer
*Stocks End Higher As Wall Street, Still Worried About Credit, Indulges in Bargain Hunting*

NEW YORK (AP) -- Wall Street shot higher in a last-minute advance Wednesday after careening through a session made turbulent by ongoing concerns about U.S. home loans and the credit market.

Stocks zigzagged for much of the day, with the Dow Jones industrials moving from positive to negative territory and back again before rallying to a gain of 150 points on bargain hunting during the last 20 minutes of trading. It was clear that any advance could be punctured by further bad news about soured subprime home loans, those made to borrowers with poor credit.

Wednesday's trading further revealed the fractious nature of the stock market after a series of triple-digit swings in the Dow over the past week. On Tuesday, Wall Street gave back a big early gain and resumed the sharp slide it began last week, as concerns about home loan defaults and their fallout re-emerged when American Home Mortgage Investment Corp. reported troubles with its credit lines.

Economic news -- including a better-than-expected report on pending home sales -- as well as record oil prices failed to peel investors' concentration much beyond credit.

"We've got a tug-of-war going on," said Arthur Hogan, chief market analyst at Jefferies & Co. He contends Wednesday's trading represents a microcosm of the market's performance in recent weeks, when investors alternately focus on concerns like subprime loans and rising energy prices and positives like low unemployment, low interest rates and still-growing corporate profits.

The Dow rose 150.38, or 1.14 percent, to 13,362.37.

Broader stock indicators also advanced. The Standard & Poor's 500 index rose 10.54, or 0.72 percent, to 1,465.81, and the Nasdaq composite index rose 7.60, or 0.30 percent, to 2,553.87.

Investors in recent sessions have succumbed to concerns about the credit markets that have dogged them for months. Stocks plunged at the end of last week amid such worries, taking the Dow down 585 points over Thursday and Friday.

Hogan said the market's sell-off since its July 19 high -- when the Dow closed above 14,000 for the first time -- has at times drawn out some bargain hunters, as occurred late Wednesday. In an about-face from recent sessions, a crush of sell orders didn't arrive late in the day to drive stocks down in the final minutes.

"We've got that dichotomy between fear and greed. This is greed kicking in," he said of the rush of last-minute buy orders.

"You get to a point where are you more afraid of the fallout from credit spreads or are you more afraid of missing the market bottom?," he said of investor sentiment. "I think it's going to be a recurring pattern over the next several weeks," Hogan said of Wednesday's volatility.

Peter Dunay, an investment strategist with New York-based Leeb Capital Management, contends hedge funds are likely to pounce once they determine the market has bottomed out.

"This was hedge fund buying, they are the only investors that would do this at the end of the day," he said.

The surge also likely reflects the work of computers, which handle much of the trading in the stock markets, and execute transactions when stocks hit specific levels.

Bond prices, which move opposite yields, fell as stocks rallied. The yield on the benchmark 10-year Treasury note rose to 4.79 percent from 4.75 percent late Tuesday.

Besides the weak home loan market and credit worries, investors are facing concerns over the threat of inflation due to record-high crude oil prices.

Light, sweet crude fell $1.68 to $76.53 per barrel on the New York Mercantile Exchange after rising to a new all-time high of $78.77 during the session after the government reported a drop in inventories. The previous trading high of $78.40 came in July 2006; on Tuesday crude had its first record close in more than a year.

The dollar was mixed against other major currencies, while gold prices fell.

Among the forces weighing on stocks was another slump in financial services stocks, especially after Bear Stearns Cos. said it moved late Tuesday to prevent investors from pulling money out of a third hedge fund, which had $850 million invested in highly rated mortgage-backed securities.

A week ago, the company riled the markets when it said two hedge funds that bet on risky home loans were essentially worthless -- and declared bankruptcy for both on Tuesday. Bear fell $2.92, or 2.4 percent, to $118.30.

In economic news, a report from the National Association of Realtors found that pending sales of existing homes rose 5 percent in June from a month earlier. It was the largest monthly gain in more than three years. In addition, the Institute for Supply Management said its manufacturing index rose to 53.8 in July from 56.0 in June. The reading, while showing an improvement in the manufacturing sector, was weaker than the 55.0 analysts expected.

"The economic data were a modest negative but I don't think that economic data has been driving the markets as much as changes in perceptions in risk in private equity and mortgage-related investments," said Alan Levenson, chief economist at T. Rowe Price.

In corporate news, Dow Jones & Co., publisher of The Wall Street Journal, confirmed it struck a deal to be acquired by Rupert Murdoch's media conglomerate News Corp. for $5 billion. Dow Jones rose 72 cents to $58.10, while News Corp. rose 16 cents to $22.82.

Corporate earnings reports offered investors a mixed picture on Wednesday. Time Warner Inc. saw strength in its cable TV business help boost second-quarter earnings by 5 percent. However, investors grew concerned after its AOL Internet unit saw a 38 percent decline in revenue. Time Warner fell 62 cents, or 3.2 percent, to $18.64.

Arcelor Mittal, the world's largest steelmaker, posted a $2.72 billion profit in the second quarter. That compares with earnings of $1.82 billion a year ago, based on the combined results of the company's predecessors, Mittal Steel Co. NV and Arcelor SA. Although Mittal expects to complete its takeover later this year, the companies largely operate as a combined entity. The stock rose $4.29, or 7 percent, to $65.31.

Despite gains by the major market indexes, declining issues outnumbered advancers by more than 9-to-7 on the New York Stock Exchange, where consolidated volume came to a heavy 4.93 billion shares compared with 4.18 billion traded Tuesday.

The Russell 2000 index of smaller companies rose 1.80, or 0.23 percent, to 777.92.

Worries about U.S. home loan defaults haven't affected only the U.S. markets; they have been rippling through the world markets, too.

In Asian trading, Japan's Nikkei stock average fell 2.2 percent, Hong Kong's Hang Seng index dropped 3.2 percent, and China's Shanghai Composite Index dipped 3.8 percent.

Britain's FTSE 100 fell 1.72 percent, Germany's DAX index fell 1.45 percent, and France's CAC-40 fell 1.68 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 100 points on Thursday August 2:

Sym Last....... ........Change..........
Dow	13,463.33	Up 100.96 (0.76%)
Nasdaq	2,575.98	Up 22.11 (0.87%)
S&P 500	1,472.20	Up 6.39 (0.44%)
10-Yr Bond	4.7530% 	Down 0.0060
NYSE Volume	73,875,000
Nasdaq Volume	2,541,833,000

In Asian trading, Japan's Nikkei stock average closed up 0.67 percent, Hong Kong's Hang Seng index dipped 0.05 percent, and China's Shanghai Composite Index rose 2.5 percent.

In European trading, Britain's FTSE 100 rose 0.80 percent, Germany's DAX index rose 0.81 percent, and France's CAC-40 rose 0.49 percent.

http://biz.yahoo.com/ap/070802/wall_street.html?.v=54
*Earnings, Jobs Data Boost Dow 100*
Thursday August 2, 5:43 pm ET
By Madlen Read, AP Business Writer
*Stocks Advance on Earnings, Job Data, Giving Dow Industrials Second-Straight Triple-Digit Gain*

NEW YORK (AP) -- Wall Street had its second-straight late-day rally Thursday, again propelling the Dow Jones industrials up more than 100 points after solid readings on corporate earnings and the job market calmed some of investors' anxiety about a tight credit market.

Trading was volatile again, but not to the extreme seen over the past week. The Dow and the Nasdaq composite mostly stayed in positive territory for much of the session.

Profits from companies like Nokia Corp. came in better than expected, and the Labor Department said jobless claims rose last week by a slightly smaller number than economists predicted. The numbers all helped steady a market that has seen stability in short supply.

Analysts said the jobless report in particular helped stocks, as it indicated that the labor market is holding up. The figures were released a day before the government's highly anticipated July employment report, to be issued before the start of trading on Friday.

"Something that has kept consumers spending is that unemployment is very low," said Janna Sampson, director of portfolio management at Oakbrook Investments. "Even if they're being pinched a little bit by oil prices or the inability to borrow, people will spend if they have a job. If we see employment weakening, that's really, really negative."

But with the market jumpy about rising mortgage defaults leading to losses and tougher lending standards, it was impossible to tell whether the market's two-day advance, which has lifted the Dow 250 points, will stick. In the latest indication that the lending climate is still deteriorating, Accredited Home Lenders Holding Co., a nonbank mortgage lender, said in a filing Thursday its business is in jeopardy, and its stock plummeted 41 percent.

The Dow rose 100.96, or 0.76, to 13,463.33. The Standard & Poor's 500 index picked up 6.39, or 0.44 percent, closing at 1,472.20, while the Nasdaq composite index rose 22.11, or 0.87 percent, to 2,575.98.

Bonds were little changed, with the yield on the benchmark 10-year Treasury note at 4.79 percent, the same as late Wednesday.

The blue chip index, now about 4 percent below the record close it reached in early July, has seen triple-digit swings become the norm in recent weeks as investors received a series of unpleasant reports about the mortgage and corporate lending markets. Stocks have been up-ended by concerns not only about the fallout from mortgage defaults, but also that credit will be less available to fund the merger deals that helped power Wall Street higher this year.

Another reason for the market's volatility is that the Dow rose to the 14,000 mark so quickly, said Jack A. Ablin, chief investment officer at Harris Private Bank. He has predicted the Dow will end the year at 14,000. "From that perspective, the market got a little ahead of itself," he said.

He added, though, that late-day surges are heartening. "Movements in the last half-hour are generally smarter money. It's usually program trading, institutional buying or selling," Ablin said.

The dollar was mixed against other major currencies, after the European Central Bank and the Bank of England kept their key interest rates steady Thursday. More rate boosts overseas could further injure the dollar, which is trading near multi-year lows against the euro and the British pound.

In other economic data, U.S. factories saw demand for their goods rise in June by 0.6 percent, up from a 0.5 percent drop in May but lower than expected.

Several major earnings reports came in strong Thursday.

Nokia, the biggest cell phone maker in the world, said its second-quarter profit more than doubled on strong sales. U.S. shares of the Finnish company soared $2.49, or 8.8 percent, to $30.90.

Profits at Lear Corp. surpassed Wall Street projections, despite a failed buyout bid led by billionaire investor Carl Icahn. Shares picked up 78 cents, or 2.3 percent, to $34.15.

CVS Caremark Corp. rose $1.25, or 3.5 percent, to $36.79 after it posted better-than-expected quarterly results.

Meanwhile, another takeover deal lifted the market's spirits -- at least for the time being. Fiserv Inc. said it agreed to buy CheckFree Corp. in an all-cash deal worth about $4.4 billion, driving up CheckFree's shares $8.57, or 23.3 percent, to $45.40. Fiserve rose 31 cents to $49.50.

But not all company news was positive Thursday: Nortel Networks Corp. tumbled $1.25, or 5.8 percent, to $20.49 after reporting quarterly results that disappointed investors. Also, Clorox Co. plunged $4.49, or 7.3 percent, to $57.14 after releasing worse-than-expected projections for later in the year.

Crude oil futures rose 33 cents to $76.86 a barrel on the New York Mercantile Exchange. Crude is still trading below Tuesday's record close of $78.21.

Gold prices rose.

Advancing issues outnumbered decliners by about 5 to 3 on the New York Stock Exchange, where consolidated volume came to 4.18 billion shares, compared to 4.93 billion on Wednesday.

The Russell 2000 index of smaller companies rose 6.07, or 0.78 percent, to 783.99.

In Asian trading, Japan's Nikkei stock average closed up 0.67 percent, Hong Kong's Hang Seng index dipped 0.05 percent, and China's Shanghai Composite Index rose 2.5 percent.

In European trading, Britain's FTSE 100 rose 0.80 percent, Germany's DAX index rose 0.81 percent, and France's CAC-40 rose 0.49 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 281 points on Friday August 3:

Sym Last....... ........Change..........
Dow	13,181.91	Down 281.42 (2.09%)
Nasdaq	2,511.25	Down 64.73 (2.51%)
S&P 500	1,433.06	Down 39.14 (2.66%)
10-Yr Bond	4.7000% 	Down 0.0530
NYSE Volume	282,126,000
Nasdaq Volume	2,608,363,000

In Asian trading, Japan's Nikkei stock average fell 0.03 percent, Hong Kong's Hang Seng index rose 0.4 percent, and China's Shanghai Composite Index rose 3.5 percent. 

In Europe, Britain's FTSE 100 fell 1.21 percent, Germany's DAX index fell 1.31 percent, and France's CAC-40 fell 1.48 percent.

http://biz.yahoo.com/ap/070803/wall_street.html?.v=53
*Bears Rule the Street; Dow Plunges 280

Stocks Fall Sharply Amid Credit Fears*
Friday August 3, 5:57 pm ET
By Tim Paradis, AP Business Writer
Stocks Fall Following Concerns About Credit, Weaker-Than-Expected Economic Readings

NEW YORK (AP) -- Wall Street plunged anew Friday, hurtling the Dow Jones industrial average down more than 280 points after comments from a major investment bank exacerbated the market's fears of a widening credit crunch.

The drop of more than 2 percent in major stock market indexes was a fitting end to two volatile weeks on Wall Street and followed back-to-back, late-day triple digit gains in the Dow. This time, the catalyst for a sharp skid was Bear Stearns Cos. Chief Financial Officer Sam Molinaro, who described turmoil in the credit market as the worst he'd seen in 22 years.

Stocks started the day with a decline after the government said jobs growth was not as strong as expected last month and a trade group reported that the nation's service sector grew at a slower pace than expected in July. Then, credit concerns, which have dogged investors for months and have roiled markets since last week, further weighed on investor sentiment; Standard & Poor's Ratings Services lowered its credit outlook on Bear Stearns to negative from stable because of the investment bank's exposure to the distressed mortgage and corporate buyout markets.

"I think there is a tremendous amount of uncertainty with regard to the credit markets and how the situation will ultimately settle," said Mike Malone, trading analyst at Cowen & Co.

Investors remain worried that problems in subprime mortgages -- those made to borrowers with poor credit histories -- will force lenders to make credit less available. When people and companies can't borrow money as easily, the economy tends to slow down.

"There is not going to be one sort of clear signal that suggests everything is OK," Malone said, referring to the subprime and credit worries. "I think it's going to take time and the equity markets are going to experience heightened volatility."

Investors could be in for more tumultuousness in the coming week, which not only includes economic figures on productivity and consumer credit, but also brings a meeting of the Federal Reserve's Open Market Committee, which has left short-term interest rates unchanged for the past year. Investors will likely be looking to its statement following its meeting for any word on the mortgage and credit markets.

The Dow fell 281.42, or 2.09 percent, to 13,181.91. As has been typical in recent selloffs, much of the decline came late in the session; the Dow lost more than 100 points in the final 15 minutes Friday. Despite the day's loss, the index was off only 0.63 percent for the week.

Broader stock indicators also fell sharply Friday. The Standard & Poor's 500 index dropped 39.14, or 2.66 percent, to 1,433.06, and the Nasdaq composite index fell 64.73, or 2.51 percent, to 2,511.25. For the week, the S&P fell 1.77 percent, while the Nasdaq fell 1.99 percent.

The concerns have pulled stocks from highs seen only weeks ago. The Dow, which on July 19 closed above 14,000 for the first time, now sits about 819 points below that level. That 5.9 percent decline puts the Dow more than halfway toward the technical threshold of a correction, which is 10 percent.

Small-capitalization stocks were hit hard again Friday, partly because the global economy appears to be growing faster than that of the United States. Investors often contend profits at larger companies are more likely to hold up amid a U.S. slowdown because much of their business is drawn from overseas. The Russell 2000 index of small-capitalization stocks fell 28.57, or 3.64 percent, to 755.42.

The session also saw a notable rise in the bond market, as investors fled to the relative safety of fixed-income investments. The yield on benchmark 10-year Treasury note fell to 4.68 percent from 4.77 percent late Thursday. Bond prices move opposite yields.

The unease over the mortgage market and tightening credit Friday again dragged down financial stocks, which have been hard hit in recent weeks.

Bear Stearns fell $7.28, or 6.3 percent, to $108.35. Lehman Brothers Holdings Inc. fell $4.67, or 7.7 percent, to $55.78; the stock traded as low as $55.46, below its 52-week low of $58.85. Merrill Lynch & Co. fell $2.50, or 3.5 percent, to $70.05. The stock traded as low as $69.14, below its earlier 52-week low of $70.86.

Investors also fled lenders. American Home Mortgage Investment Corp. confirmed late Thursday it has stopped taking mortgage applications and is laying off most of its 7,000 staffers. American Home dropped 76 cents, or 52 percent, to 69 cents.

Countrywide Financial Corp. fell $1.77, or 6.6 percent, to $25. The nation's biggest mortgage lender said late Thursday it has adequate access to cash and isn't facing the liquidity crunch that is hitting dozens of other smaller players.

In economic news, which didn't provide much reason for investors to look past the mortgage and credit concerns, the Labor Department said nonfarm payrolls rose 92,000 last month, less than the 132,000 jobs created in June and below the average forecast of about 135,000. Also, unemployment ticked up to 4.6 percent -- a six-month high -- from 4.5 percent in June. Still, overall unemployment remains low, analysts noted.

Also, the Institute for Supply Management said its non-manufacturing index, which measures service sector activity, fell in July to 55.8 from 60.7 in June. Wall Street had expected a reading of 59, according to Thomson Financial/IFR.

Investors still uncertain about the effect of rising subprime mortgage defaults on the broader economy have regarded the stable job market and consumer spending as signs the economy might hold up despite a tighter lending climate. That's because people with steady paychecks are more likely to keep spending and pay back their debt. At the same time, some pullback in employment might ease some concerns about wage inflation.

"I think the ISM and the jobs numbers are going to accelerate the general consensus view that maybe the economy is slower than anticipated," said Subodh Kumar, global investment strategist at Subodh Kumar & Assoc.

"The market has become very much driven from data point to data point because of uncertainty of a number of issues," he said, citing unease over credit, oil prices, and a weak dollar.

Crude oil futures settled down $1.38 at $75.42 per barrel on the New York Mercantile Exchange after the employment report suggested the economy could slow and demand for oil could fall. Crude closed at a record $78.21 a barrel on Tuesday, though ended the week 2 percent lower.

Declining issues outnumbered advancers by about 5 to 1 on the New York Stock Exchange, where consolidated volume came to 4.54 billion shares compared with 4.18 billion traded Thursday.

In Asian trading, Japan's Nikkei stock average fell 0.03 percent, Hong Kong's Hang Seng index rose 0.4 percent, and China's Shanghai Composite Index rose 3.5 percent. In Europe, Britain's FTSE 100 fell 1.21 percent, Germany's DAX index fell 1.31 percent, and France's CAC-40 fell 1.48 percent.

The Dow Jones industrial average ended the week down 83.56, or 0.63 percent, at 13,181.91. The Standard & Poor's 500 index finished down 25.89, or 1.77 percent, at 1,433.06. The Nasdaq composite index ended down 50.99, or 1.99 percent, at 2,511.25.

The Russell 2000 index finished the week down 22.41, or 2.88 percent, at 755.42.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 14,432.34, down 278.44 for the week. A year ago, the index was at 12,826.14.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 286 points on Monday August 6:

Sym Last....... ........Change..........
Dow	13,468.78	Up 286.87  (2.18%)
Nasdaq	2,547.33	Up 36.08 (1.44%)
S&P 500	1,467.67	Up 34.61 (2.42%)
10-Yr Bond	4.731% 	Up 0.031
NYSE Volume	720,677,000
Nasdaq Volume	2,815,944,000

In trading abroad,
London's FTSE 100 fell 0.57 percent, Germany's DAX index rose 0.12 percent and France's CAC-40 fell 1.16 percent.

The often volatile Shanghai Composite Index rose 1.5 percent to a record 4628.11.  Japan's Nikkei stock average dropped 0.39 percent.

*Stocks Surge: Dow Jumps Over 280 Pts*
http://biz.yahoo.com/ap/070806/wall_street.html?.v=50
Stocks Rebound in Volatile Trading
Monday August 6, 4:57 pm ET
By Tim Paradis, AP Business Writer
Stocks Surge, Erasing Dow's 2 Percent Drop Friday; Volatility High Ahead of Fed Meeting

NEW YORK (AP) -- Wall Street surged higher in a volatile session Monday, offsetting the losses it incurred Friday but showing more fractiousness than conviction in an advance that lifted the Dow Jones industrials 286 points.

Investors tried to balance their concerns about the availability of credit with hopes that Tuesday's Federal Reserve meeting will be a calming influence after two weeks of frenetic trading on Wall Street. In a day devoid of economic news and with few earnings reports, investors early in the session seemed to avoid making big bets, though stocks then gained steam after midday.

Fed policy makers are widely expected to hold the nation's benchmark rate steady at 5.25 percent; as usual, the greater concern is with the Fed's economic assessment statement. This time, investors will be looking to see what the Fed says about credit.

The Dow's biggest point gain of the year follows a number of choppy sessions in which investor sentiment has vacillated between fear about lending to occasional bursts of optimism. Seven of the past 10 sessions have seen swings greater than 100 points in the Dow. The erratic activity has followed the stock market's high seen July 19, when the Dow closed above 14,000 for the first time.

"I really wouldn't read too much into it," said Charles Norton, principal and portfolio manager at GNICapital, referring to Monday's rally. "You'd like to see it be led by the market leaders, not the sort of stuff bouncing off the bottom that's been beaten up," he said referring to financial stocks and regional banks.

According to preliminary calculations, the Dow soared 286.87, or 2.18 percent, to 13,468.78. The blue chips closed near their highs after zigzagging throughout much of the session. On Friday, the Dow fell 281 points.

Broader stock indicators also rebounded. The Standard & Poor's 500 index rose 34.61, or 2.42 percent, to 1,467.67. The Nasdaq composite index rose 36.08, or 1.44 percent, to 2,547.33.

The rally was not as widespread as the rise in the major indexes suggested, though. Advancing issues outnumbered decliners by about 6 to 5 on the New York Stock Exchange, where volume came to 2.28 billion shares, compared with 2.11 billion shares traded Friday.

"I think a lot of it has to do with people sort of squaring up before the Fed on the short side, covering some shorts," Norton said, referring to the market's move higher and investors who sell stocks "short," betting that they will fall. Such investors can be forced to buy stock to cover their positions if they believe the market is poised to move higher.

Falling oil also gave a boost to stocks. Light, sweet crude futures tumbled $3.42 to $72.06 a barrel on the New York Mercantile Exchange. Gold prices fell, while the dollar moved in a mixed range against other major currencies.

Stocks have endured a volatile couple of weeks as troubles in the global credit markets -- rooted in the rise of subprime loan defaults in the U.S. -- have unfolded. Some investors are concerned that bad subprime loans, those made to borrowers with poor credit, remain on the books of some financial companies and have yet to be disclosed.

Aaron Gurwitz, co-head of portfolio strategy at Lehman Brothers Investment Management, said that while he would be surprised if the Fed were to adjust short-term interest rates, the central bank could indicate it stands ready to provide liquidity should credit markets seize up. He noted, however, that the repricing of credit that's occurring in the markets isn't something the Fed would likely want to stand in the way of.

"I think it's a short-term problem," he said. "I think that the uncertainty in the credit markets, the worries about a liquidity crisis that has to be dealt with, is a risk to the financial markets -- but I think it's a long way from being a risk to the macro economy or the ability of most companies to make money."

Bond prices fell after rising during Friday's stock market pullback, signaling investors might be transferring money into stocks. The yield on the benchmark 10-year Treasury note rose to 4.74 percent from 4.68 percent late Friday. Bond prices move opposite yields.

Some of the session's major corporate news related to subprime loans and credit concerns. Bear Stearns Cos. co-President and co-Chief Operating Officer Warren Spector resigned after the collapse of two hedge funds that invested in risky mortgage-backed securities. Spector was directly in charge of the investment bank's asset management business. Bear Stearns fell sharply on the news, but then recovered some ground after a Standard & Poor's managing director said the market overreacted when the agency lowered its long-term outlook on the financial firm.

Bear Stearns rose $5.46, or 5 percent, to $113.81, after falling below $100 briefly.

Merrill Lynch & Co. rose $4.50, or 6.4 percent, to $74.55 after a UBS analyst upgraded the nation's largest brokerage. Analyst Glenn Schorr contends the problems in the subprime mortgage and credit businesses and the potential ripple effects are now baked into the share price, which has fallen nearly 25 percent for the year.

In other corporate news, Cooper Tire & Rubber Co. on Monday said it swung to a second-quarter profit after sales jumped 17 percent, driven by higher prices in North America and strong growth in Europe and Asia. The tire maker's results beat Wall Street's expectations. Cooper advanced $1.07, or 5.1 percent, to $22.25.

The Russell 2000 index of smaller companies rose 10.97, or 1.45 percent, to 766.39.

In trading abroad, London's FTSE 100 fell 0.57 percent, Germany's DAX index rose 0.12 percent and France's CAC-40 fell 1.16 percent.

The often volatile Shanghai Composite Index rose 1.5 percent to a record 4628.11. Japan's Nikkei stock average dropped 0.39 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

he NYSE DOW closed HIGHER by 35 points on Tuesday August 7:

Sym Last....... ........Change..........
Dow	13,504.30	Up 35.52 (0.26%)
Nasdaq	2,561.60	Up 14.27 (0.56%)
S&P 500	1,476.71	Up 9.04 (0.62%)
10-Yr Bond	4.7430% 	Up 0.0120
NYSE Volume	564,368,000
Nasdaq Volume	2,812,742,000

Overseas
European markets rose higher following Monday's U.S. advance. London's FTSE 100 closed up 1.93 percent, Germany's DAX index rose 0.93 percent, while France's CAC-40 rose 1.58 percent. Japan's Nikkei stock average closed up 0.04 percent.

http://biz.yahoo.com/ap/070807/wall_street.html?.v=35
Wall Street Extends Rally After Fed
Tuesday August 7, 4:56 pm ET
By Joe Bel Bruno, AP Business Writer
Wall Street Rebounds After Fed Said Maintaining Inflation Fighting As Top Priority

NEW YORK (AP) -- Wall Street overcame disappointment in the Federal Reserve's failure to move toward an easing of interest rates Tuesday, and stocks made a late-day surge as the decision was seen as a sign the economy wasn't threatened by turmoil in the credit markets.

Investors were at first deeply disappointed that policymakers, who kept benchmark rates on hold at 5.25 percent, did not provide any hints about a possible cut. But, after digesting the policy statement, they quickly gained solace that the economy is likely to withstand losses from subprime mortgages. The Dow Jones industrials rose into positive territory from a 121 point deficit right after the decision was announced.

The Fed's Open Market Committee's economic assessment said the central bank's predominant concern "remains the risk that inflation will fail to moderate as expected." Wall Street, which has been shaken by two weeks of volatility over the more difficult conditions in the credit markets, appeared relieved the Fed didn't consider risk to the credit and loan markets as a bigger concern.

The statement, while noting credit problems, continuing weakness in the housing market and the market's turbulence, stood fast by the Fed's inflation policy. It gave little new insight into which way policymakers were leaning about a possible interest rate cut, however.

"I think what the Fed is trying to tell us is the economy is still in reasonably good shape, they're still concerned about inflation and they welcome the repricing of risk as long as it does not result in the markets seizing up from a liquidly standpoint," said Robert Auwaerter, head of fixed income portfolio management at Vanguard Group.

According to preliminary calculations, the Dow Jones industrial average gained 35.52, or 0.26 percent, to 13,504.30. The blue chip index had risen as much as 102 points after the decision; it is the first time since July 30 that it hasn't closed with a triple-digit gain or loss.

The Standard & Poor's 500 index rose 9.04, or 0.62 percent, to 1,476.71, while the Nasdaq composite index rose 14.27, or 0.56 percent, to 2,561.60. The Russell 2000 index of smaller companies fell 7.22, or 0.94 percent, to 773.61.

In recent weeks, the major stock market indexes have traded erratically, with the Dow routinely showing triple-digit swings. The frenetic trading follows the stock market's high seen July 19, when the Dow closed above 14,000 for the first time and the Standard & Poor's 500 index also saw a record finish.

Treasury bonds fell as investors moved back into stocks, with the yield on the 10-year note falling to 4.77 percent from late Monday's 4.74 percent. Investors had been moving into safer investments, like Treasuries, to avoid volatility in major market indexes.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude oil for September delivery rose 36 cents to settle at $72.42 a barrel on the New York Mercantile Exchange. A week ago, crude closed at a record $78.21 a barrel.

Wall Street also digested a Labor Department report that found the productivity of U.S. workers rose to a 1.8 percent annual rate in the spring -- more than double the 0.7 percent pace of the first quarter -- while wage pressures lessened.

Unit labor costs rose at a 2.1 percent pace, which was the second straight quarter in which wage pressures have cooled. A drop in wage pressures could help assuage some of the Fed's concerns about inflation.

But, for the moment, it appears policymakers remain on track in their thinking about the economy. The Fed expects moderate economic growth even though credit conditions have tightened for some customers and business.

Analysts believe there wasn't too much new in this statement compared to comments issued after their previous meeting -- and that in itself might have led to the market's volatility. Some investors were looking for a stronger statement about credit markets, where others might have been listening for indications of a rate cut or signs inflation is waning.

"Nobody was surprised, at the Fed's language. There wasn't any positive or really negative news," said Brett Hammond, chief investment strategist for TIAA-CREF. "Beyond seeing a concern about inflation, now they've acknowledged the credit crunch and volatile markets -- it has stuck in people's minds that they are pointing these things out."

In corporate news, Marsh & McLennan Cos. fell $1.54, or 5.6 percent, to $26.11. The largest U.S. insurance brokerage turned in a 3 percent increase in its second-quarter profits amid growth in its risk and insurance business and consulting operations. The company also approved a $1.5 billion share-repurchase plan.

Duke Energy Corp. rose 96 cents, or 5.4 percent, to $18.86. It reported second-quarter profit fell $1.27 percent after it spun off its natural gas business at the beginning of the year.

Tyco International Ltd. shed 56 cents to $47.44 after it fell to a fiscal third-quarter loss due to hefty charges primarily related to a legal settlement. Adjusted results managed to top Wall Street's expectations, however.

Advancing issues outpaced decliners by a 3 to 2 basis on the New York Stock Exchange, where volume came to 2.14 billion shares.

Overseas, European markets rose higher following Monday's U.S. advance. London's FTSE 100 closed up 1.93 percent, Germany's DAX index rose 0.93 percent, while France's CAC-40 rose 1.58 percent. Japan's Nikkei stock average closed up 0.04 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## tech/a

*Green and Red nice touch!*


----------



## bigdog

The NYSE DOW closed HIGHER by 153 points on Wednesday August 8:

Sym Last....... ........Change..........
Dow	13,657.86	Up 153.56 (1.14%)
Nasdaq	2,612.98	Up 51.38 (2.01%)
S&P 500	1,497.49	Up 20.78 (1.41%)
10-Yr Bond	4.8600% 	Up 0.1170
NYSE Volume	1,156,125,000
Nasdaq Volume	3,673,005,000

Overseas
Japan's Nikkei stock average rose 0.64 percent. London's FTSE 100 gained 1.35 percent, Germany's DAX index rose 1.23 percent, and France's CAC-40 climbed 2.29 percent.

*Stocks Overcome Turmoil to End Higher*
http://biz.yahoo.com/ap/070808/wall_street.html?.v=54
*Stocks Up on Cisco Earns, Fed Statement*
Wednesday August 8, 5:19 pm ET
By Madlen Read, AP Business Writer
*Wall Street Rises on Cisco Results and Fed Statement, but Investors Reveal Their Nerves*

NEW YORK (AP) -- Stocks surged Wednesday as solid results in the technology arena and renewed demand for risky debt soothed investors a day after the Federal Reserve said the economy should keep expanding.

However, a late-day plunge and recovery revealed investors' underlying unease over how problems in lending might hurt corporate America, despite the Fed's assurances.

The Dow Jones industrial average initially soared more than 190 points, then dropped into negative territory in the last hour of trading, reportedly on speculation that investment bank Goldman Sachs Group Inc. would release some negative news. When Goldman Sachs dispelled the rumor, the Dow rebounded to finish up more than 150 points.

The sell-off illustrated how quickly sentiment can turn. The stock market has been ricocheting up and down in recent weeks on worries that borrowing will get tougher because of losses in the subprime mortgage market.

John O'Donoghue, co-head of equities at Cowen & Co., said he doubts that all the possible problems involving risky lending are resolved in investors' minds. "We'll have to see how the dust settles here in the next few days ... I don't think the market has made up its mind what it wants to do," he said.

On the whole, though, Wall Street was pleased to hear that computer network equipment maker Cisco Systems Inc. posted a 25 percent jump in quarterly profit and raised its revenue forecast for the year. The upbeat technology news, along with strong recoveries in the beleaguered financial and homebuilding sectors, came a day after the Federal Reserve suggested that the lending environment isn't difficult enough to trip up the economy.

The Fed's suggestion that it wasn't too worried about the credit markets appeared to reinvigorate them: Risky, high-yielding corporate bonds rose, while safe, low-yielding government bonds fell.

The Dow rose 153.56, or 1.14 percent, to 13,657.86.

The Standard & Poor's 500 index rose 20.78, or 1.41 percent, to 1,497.49. The S&P has had its biggest three-day point gain since October 2002.

Both the technology-dominated Nasdaq composite index and the Russell 2000 index of smaller companies posted their largest one-day point gains since June 29, 2006.

The Nasdaq added 51.38, or 2.01 percent, to 2,612.98.

The Russell 2000 index gained 21.53, or 2.78 percent, to 795.66. The index had dipped in late July into negative territory for the year, battered as credit crunch worries led investors to turn to larger, more established companies. Now, the Russell is back in positive terrain for the year.

"People are getting some appetite for risk again," said John C. Forelli, portfolio manager for Independence Investment LLC in Boston.

President Bush on Wednesday tried to reassure Wall Street, expressing confidence that the stock market would eventually calm down, saying to a small group of reporters that "the underpinnings of our economy are strong."

Bonds plummeted as stocks rose, with the yield on the 10-year Treasury note spiking to 4.89 percent from 4.77 percent on Tuesday. Investors exited government securities after the Fed's statement dashed hopes of a rate cut, and on rumors that Asian governments would get rid of some of their U.S. assets.

The financial and homebuilding sectors -- big losers in recent weeks -- saw large gains Wednesday, with many investors seeing value in these pummeled stocks.

Bears Stearns Cos., whose collapsing hedge funds have been a prime cause of jitters in the market, rose 3.6 percent. Lehman Brothers rose 6.7 percent, JPMorgan Chase & Co. rose 2.6 percent, and American Express Co. rose 4.2 percent.

California homebuilder KB Home rose 8.8 percent after saying late Tuesday it used cash on hand to repay $650 million in debt to rid its balance sheet of obligations. D.R. Horton Inc. rose 6.9 percent; Centex Corp. rose 8.2 percent; and Pulte Homes Inc. rose 7.2 percent.

The housing market is still weak, though, which could keep Wall Street nervous going forward. Toll Brothers Inc.'s preliminary measure of fiscal third-quarter revenue showed home building revenue fell 21 percent. Still, the company's chief executive said he sees housing demand increasing, and the quarterly revenue estimate of $1.21 billion was better than analysts expected.

Toll Brothers rose $1.38, or 6 percent, to $24.33.

After releasing its quarterly results, Cisco rose $1.99, or 6.7 percent, to $31.68.

The Nasdaq was also helped by a stronger-than-expected second-quarter profit at Priceline.com Inc. The online travel agent's stock surged $14.47, or 22 percent, to $79.56.

The dollar fell against the euro and British pound, but rose against the yen. Gold prices rose.

Crude oil prices fell 27 cents to $72.15 a barrel, even after the U.S. Department of Energy reported that crude and gasoline inventories fell last week.

Advancing issues outnumbered decliners by about 8 to 3 on the New York Stock Exchange, where volume came to 2.60 billion shares, up from 2.14 billion shares traded Tuesday.

Overseas, Japan's Nikkei stock average rose 0.64 percent. London's FTSE 100 gained 1.35 percent, Germany's DAX index rose 1.23 percent, and France's CAC-40 climbed 2.29 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

*The NYSE DOW closed LOWER by 387 points on Thursday August 9:*

Sym Last....... ........Change..........
Dow	13,270.68	Down 387.18 (2.83%)
Nasdaq	2,556.49	Down 56.49 (2.16%)
S&P 500	1,453.09	Down 44.40 (2.96%)
10-Yr Bond	4.79% 	Down 0.07
NYSE Volume	1,574,519,000
Nasdaq Volume	3,612,358,000

European stocks plunged. Britain's FTSE 100 lost 1.92 percent, Germany's DAX index fell 2.00 percent, and France's CAC-40 fell 2.17 percent after being down more than 3 percent.

Japan's Nikkei stock average rose 0.83 percent. 
Hong Kong's Hang Seng index fell 0.43 percent.


*Dow Down 387; Second Worst Loss of Year*
http://biz.yahoo.com/ap/070809/wall_street.html?.v=80
*Dow Plunges 387 on Subprime Concerns*
Thursday August 9, 4:46 pm ET
By Tim Paradis, AP Business Writer
*Dow Plunges 387 on Following Renewed Subprime Mortgage Concerns*

NEW YORK (AP) -- Wall Street plunged again Thursday after a French bank said it was freezing three funds that invested in U.S. subprime mortgages because it was unable to properly value their assets. The Dow Jones industrials extended its series of triple-digit swings, this time falling more than 380 points.

The announcement by BNP Paribas raised the specter of a widening impact of U.S. credit market problems. The idea that anyone -- institutions, investors, companies, individuals -- can't get money when they need it unnerved a stock market that has suffered through weeks of volatility triggered by concerns about tight credit and bad subprime mortgages.

A move by the European Central Bank to provide more cash to money markets intensified Wall Street's angst. Although the bank's loan of more than $130 billion in overnight funds to banks at a low rate of 4 percent was intended to calm investors, Wall Street saw it as confirmation of the credit markets' problems. It was the ECB's biggest injection ever.

The Federal Reserve added a larger-than-normal $24 billion in temporary reserves to the U.S. banking system.

The concerns that arose in Europe and spilled onto Wall Street underscored the potential worldwide ramifications of an implosion of some subprime loans and perhaps also weakened arguments that strength in the global economy could help keep profit growth going in the U.S. among large companies that do business overseas.

The ECB's injection of money into the system is an unprecedented move, said Joseph V. Battipaglia, chief investment officer at Ryan Beck & Co., adding that it shows that problems in subprime lending are, in fact, spilling into the general economy.

"This is a mini-panic," he said. "All the things that had been denied up until this point are unraveling. On top of this, retail sales were mediocre, which shows that indeed, the housing collapse is affecting the consumer."

Retailers released July sales figures Thursday that were overall disappointing.

The Fed didn't soften its stance on inflation after leaving short-term interest rates unchanged Tuesday. However, the renewed credit market concerns spurred bond traders who bet on its next move to predict early in the session that the Fed will cut rates at its meeting next month. Before Thursday, traders had bet on a 1 in 4 chance of such a cut.

According to preliminary calculations, the Dow fell 387.18, or 2.83 percent, to 13,270.68.

Thursday's pullback continued an erratic pattern of triple-digit moves in the Dow since the index closed at a record 14,001.41 on July 19. Eleven of the 15 ensuing sessions have ended in a triple-digit gain or loss. Gains have been evaporating at the first mention of trouble in housing, subprime lending or the credit markets.

With Thursday's decline, the Dow is about 730 points, or 5.2 percent, below its record close. Some experts have been calling for a textbook correction -- a pullback of at least 10 percent. At its lowest close since the market's high, Friday's finish of 13,181.91, the Dow was 5.85 percent below the record.

Bonds rose sharply as investors again sought the relative safety of Treasurys, pushing down the yield on the benchmark 10-year note to 4.79 percent from 4.89 percent late Wednesday.

The broader Standard & Poor's 500 index fell 44.40, or 2.96 percent, to 1,453.09.

Before Thursday, the S&P had its best three-day winning streak in nearly five years. But the latest pullback was the biggest point drop and percentage loss for both the Dow and the S&P since a market pullback on Feb. 27., that owed in part to concerns about subprime loans.

The Nasdaq composite index fell 56.49, or 2.16 percent, to 2,556.49. On Wednesday, it posted its biggest point gain in more than year. And while Thursday's loss was sharp, last Friday's was more severe.

The pullback came after BNP Paribas Investment Partners said it was suspending three funds together worth about $3.79 billion and wouldn't make investor redemptions until it could determine net asset values.

The funds invest in part in subprime mortgages through a process known as securitization. Investment banks bundle together mortgages -- including those from subprime borrowers -- and sell them off to investors such as hedge funds, mutual funds and other institutional investors. Buyers of such securities are seeking the steady flow of income from homeowners making their mortgage payments.

Shares of financial companies, which investors have fled recently amid lending concerns, took another beating Thursday. Citigroup Inc. fell 5 percent, as did fellow Dow component JPMorgan Chase & Co.

In another sign of credit market trouble, Home Depot Inc. warned that the sale of its wholesale business might bring in less than expected. The world's largest home improvement retailer, which also cut how much it intends to pay to repurchase stock, said volatility in the stock, debt and housing markets has led to the possible repricing. Home Depot fell $2.01, or 5.3 percent, to $35.79, and was the worst performer of the 30 Dow components.

But American International Group Inc., one of the world's largest insurers, on Thursday reassured investors that it remains comfortable with its exposure to the subprime lending market as an investor, lender and mortgage insurer. AIG, which reported a 34 percent jump in second-quarter profit late Wednesday, said it has enough cash and liquidity and "does not need to liquidate any investment securities in a chaotic market."

AIG fell $2.18, or 3.3 percent, to $64.30.

The dollar was mixed against other major currencies, while gold prices fell. Light, sweet crude fell 56 cents to $71.59 per barrel on the New York Mercantile Exchange.

Declining issues outnumbered advancers by about 4 to 1 on the New York Stock Exchange, where volume came to 2.8 billion shares compared with 2.6 billion shares traded Wednesday.

The Russell 2000 index of smaller companies fell 10.79, or 1.36 percent, to 784.87.

The Chicago Board Options Exchange's volatility index, often called the "fear index," rose early Thursday to its highest level since April 2003.

European stocks plunged. Britain's FTSE 100 lost 1.92 percent, Germany's DAX index fell 2.00 percent, and France's CAC-40 fell 2.17 percent after being down more than 3 percent. Japan's Nikkei stock average rose 0.83 percent. Hong Kong's Hang Seng index fell 0.43 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 31 points on Friday August 10:

Sym Last....... ........Change..........
Dow	13,239.54	Down 31.14 (0.23%)
Nasdaq	2,544.89	Down 11.60 (0.45%)
S&P 500	1,453.64	Up 0.55 (0.04%)
10-Yr Bond	4.78% 	Down 0.01
NYSE Volume	1,051,037,000
Nasdaq Volume	3,245,780,000

*Overseas*
Japan's Nikkei stock average fell 2.4 percent. Hong Kong's Hang Seng Index fell 2.9 percent. Britain's FTSE 100 fell 3.71 percent, Germany's DAX index finished down 1.48 percent, and France's CAC-40 fell 3.13 percent.


http://biz.yahoo.com/ap/070810/wall_street.html?.v=95
*Stocks End Mixed After Raucous Week*
Friday August 10, 5:15 pm ET
By Tim Paradis, AP Business Writer
*Stocks End Amazing Session and Week Little Changed After Fed Adds Third Dose of Liquidity*

NEW YORK (AP) -- Wall Street closed out a difficult week with a mixed finish Friday after the Federal Reserve injected billions of dollars into the banking system to calm markets torn by worries about evaporating credit. The Dow Jones industrials, down more than 200 points during the session, ended with just a 31-point deficit and managed to post a gain for the week.

The stock market, which has been gyrating for weeks over fears that credit is drying up, pared its losses after the Fed's injections of cash and following morning comments from the central bank that it would do all it can to "facilitate the orderly functioning of financial markets." The steep declines seen at times during the session and persistant volatility, however, showed the depths of fear that had some investors yanking money out of stocks.

The Fed added $19 billion in liquidity to the market Friday morning, then another $16 billion and, finally, $3 billion.

Federal Reserve policy makers "are trying to do everything they can short of cutting the federal funds rate" to try to calm the markets, said Ed Yardeni, president of Yardeni Research in Great Neck, N.Y.

But, he said, "I think they probably have to cut rates, and probably before their scheduled September meeting."

He noted that it was Fed rate cuts that calmed the market after the 1998 Russian debt crisis and the implosion of the hedge fund Long-Term Capital Management.

According to preliminary calculations, the Dow closed down 31.14, or 0.23 percent, at 13,239.54. On Thursday, the Dow fell 387 points and extended a series of triple-digit moves that began in late July.

Friday's moves were typical of the zigzag trading and triple-digit moves in the Dow since the index closed at a record 14,000.41 on July 19. The Dow is down about 761 points, or 5.4 percent, from its record close.

Broader stock indicators finished mixed. The Standard & Poor's 500 index edged up 0.55, or 0.04 percent, to 1,453.64, and the Nasdaq composite index fell 11.60, or 0.45 percent, to 2,544.89.

All three indexes still finished higher for the week: The Dow rose 0.44 percent, the S&P advanced 1.44 percent and the Nasdaq added 1.34 percent. Sharp gains Monday, such as the Dow's 287-point climb, left stocks better able to weather Thursday's plunge.

The New York Fed, which carries out the central bank's market operation, announced a three-day repurchase agreement of mortgage backed securities and then two more of the so-called "repo" moves to inject liquidity into the market. The Fed's maneuvers came after the fed funds rate, the amount banks charge each other for overnight loans, ticked above 6 percent again Friday -- well above the Fed's target of 5.25 percent and a sign that credit was becoming harder to obtain.

The Fed stepped in after the same occurrence Thursday, injecting $24 billion in temporary reserves to the U.S. banking system. In a repo, the Fed arranges to buy securities from dealers, who then deposit the money the Fed has paid them into commercial banks.

"It's encouraging because it's a proactive step and they're not just focused on the inflation numbers and not ignoring turmoil in the credit market," said John Miller, head of the fixed income funds at Nuveen Asset Management.

The Fed's moves Thursday and Friday follow its August meeting Tuesday at which it left short-term interest rates unchanged, as it has done for more than a year. In its statement following the meeting, the bank said its primary concern remains inflation.

But the tumultuousness of the final two sessions of the week, which followed a sharp run-up in the week's first three sessions, has some market observers wondering whether the Fed will need to take added steps to douse some of the credit fears that have gripped the markets. So while some are now calling for a rate cut at the Fed's September meeting or even sooner, others contend investors will in any case first need to gather some confidence that the subprime woes and the credit market tightening aren't lethal for the economy and the markets.

"The confidence will be restored over time if the economy and the financial markets are resilient enough to overcome these kinds of announcements and view them in isolation," Miller said, in reference to disclosures such as the one Thursday from French bank BNP Paribas that it was freezing three funds that invested in U.S. subprime mortgages because it was unable to properly value their assets.

"I think it's premature to forecast a recession, particularly if the Fed is responsive. There is no reason why we couldn't work our way out of this fairly quickly," said Miller.

However, he contends subprime unease is likely to continue, particularly this fall as a big batch of subprime mortgages written in 2005 and 2006 begin to reset their rates.

Part of the unease over subprime loans -- those made to borrowers with weak credit -- relates to a process known as securitization. Investors bundle together mortgages, including some subprime loans, and sell them off to institutional investors such as hedge funds and mutual funds. These buyers are hoping for the steady flow of income from homeowners making their mortgage payments. The result is that many big investors are finding it difficult to sift through their holdings and take stock of all potential subprime loans that could go bad.

Such loans sour when borrowers with poor credit find themselves unable to make their mortgage payments now that home values aren't rising as fast or even falling in much of the country.

Investor confidence worldwide has been shaken by the credit market problems. In Asia, stocks fell Friday after regulators including the Bank of Japan added liquidity. The European Central Bank for the second day added cash to its money markets.

These banks and others around the world haven't worked together to inject liquidity into the markets since the aftermath of the Sept. 11, 2001, attacks. But the measures, intended to keep financial markets well-oiled, also seemed to confirm investor fears of a larger problem in the credit markets that will stall corporate growth -- including the burst of takeover activity that powered stocks higher this year.

Overseas, Japan's Nikkei stock average fell 2.4 percent. Hong Kong's Hang Seng Index fell 2.9 percent. Britain's FTSE 100 fell 3.71 percent, Germany's DAX index finished down 1.48 percent, and France's CAC-40 fell 3.13 percent.

Bonds slipped as investors traded the relative safety of Treasurys for stocks late in Friday's session. The yield on the benchmark 10-year Treasury note rose to 4.80 percent from 4.79 percent late Thursday. The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude fell 12 cents to $71.47 per barrel on the New York Mercantile Exchange.

Declining issues outnumbered advancers by more than 5 to 3 on the New York Stock Exchange, where volume came to 2.53 billion shares compared with a heavy 2.8 billion shares traded Thursday.

The Russell 2000 index of smaller companies rose 3.91, or 0.50 percent, to 788.78.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## wavepicker

Once again contemplating a possible EW for the SP500.  Looks like it may have found some sort of support here. As with the XJO is this support that will lead to a more substantial rally or will it be a minor rally that falls short and the market tanks??  Certainly the last leg down in the last 2 days looks impulsive.  Hopefully we can see more by the pattern of trend in the next 2-3 days, and if it falls short of the last rally high and turns down it could get ugly.

Once again would like to see a more subsantial rally before heading south again.  Lets see what happens


----------



## RichKid

wavepicker said:


> Once again contemplating a possible EW for the SP500.  Looks like it may have found some sort of support here. As with the XJO is this support that will lead to a more substantial rally or will it be a minor rally that falls short and the market tanks??  Certainly the last leg down in the last 2 days looks impulsive.  Hopefully we can see more by the pattern of trend in the next 2-3 days, and if it falls short of the last rally high and turns down it could get ugly.
> 
> Once again would like to see a more subsantial rally before heading south again.  Lets see what happens




Nice work there! I like the uncomplicated counts and the fact that this stage of the EW count also corresponds well to the rounding formation and the pause in momentum.


----------



## bean

And may also fit in with the Head and Shoulder formation on the DOW ?
Neckline tested and held last night may be tested again before a bounce


----------



## bigdog

The NYSE DOW closed LOWER by 3 points on Monday August 13:

Sym Last....... ........Change..........
Dow	13,236.53	Down 3.01 (0.02%)
Nasdaq	2,542.24	Down 2.65 (0.10%)
S&P 500	1,452.92	Down 0.72 (0.05%)
10-Yr Bond	4.7780% 	Up 0.0020
NYSE Volume	3,696,530,000
Nasdaq Volume	2,229,062,000

*Overseas Monday*
Japan's Nikkei stock average gained 0.21 percent. European stocks showed sharp gains after a sell-off Friday. Britain's FTSE 100 jumped 2.99 percent, Germany's DAX index added 1.78 percent, and France's CAC-40 rose 2.21 percent.

*Stocks Surrender Gains in Final Minutes*
http://biz.yahoo.com/ap/070813/wall_street.html?.v=51
Stocks Reverse Course, Edge Lower
Monday August 13, 6:02 pm ET
By Lauren Villagran, AP Business Writer
Wall Street Edges Lower After Banks Add Liquidity, Retail Sales Rise More Than Expected

NEW YORK (AP) -- Wall Street gave up a moderate gain in late trading and closed marginally lower Monday after the Federal Reserve and other central banks added more cash to their banking systems, helping investors set aside some concerns about credit tightness.

The New York Fed, which carries out the central bank's market operation, minutes after the opening bell announced $2 billion in overnight repurchase agreements.

The Fed's "repo" follows a move by the Bank of Japan to put $5 billion into the markets and an addition by the European Central Bank of $65.3 billion; the ECB added more than $200 billion last week. The moves, following similar injections by the Fed last week, appeared to placate Wall Street for now and allowed it to focus on a week of fresh economic data. Since Thursday, the Fed has added $62 billion in liquidity.

Monday's injection, however, was smaller than normal, perhaps reassuring some investors that the central bank doesn't yet feel the need to pump more liquidity into the market. The last time the Fed repurchased as little as $2 billion in one day was on Wednesday, April 18. It made a one-day repo of $1.5 billion on May 10, but that was preceded by a separate one-day repo of $5.0 billion earlier that same day.

The central bank moves seem to be calming a market that has been torn by volatility for weeks. But Ryan Detrick, senior technical strategist for Schaeffer's Investment Research, said trading on Monday was very tepid. In fact, Monday's decline was a sign that investors remain nervous -- that the markets gave up their gains wasn't surprising given how volatile trading has been.

"We got off to a good start in the morning, but people are still kind of on edge here and are unwilling to jump in and do a lot of buying," he said. "There's so much worry out there about the next shoe to drop."

The Dow Jones industrial average fell 3.01, or 0.02 percent, to 13,236.53.

Broader stock indicators also rose. The Standard & Poor's 500 index fell 0.72, or 0.05 percent, to 1,452.92, and the Nasdaq composite index retreated 2.65, or 0.10 percent, to 2,542.24.

After enduring sharp swings to the downside last week, the Dow and other major indexes ultimately finished the week with a modest gain. Last week's trading showed that the most predictable thing about the markets lately is high volatility.

"The environment we're in is really truly extraordinary. The best way for investors to view this is from a 30,000-foot view -- to be positioned defensively and to continue to pay close attention to the U.S. economy and the consumer," said J. Michael Barron, chief executive of Knott Capital in Exton, Pa.

Investors were in a somewhat better mood on Monday. However, Wall Street wasn't comfortable enough to hold positions overnight, and ultimately sold off positions just before the closing bell.

There continues to be a great deal of uncertainty in the market over the extent of problems in the subprime mortgage sector. Defaults among subprime mortgage holders -- borrowers with weak credit -- began the chain of events that led to the turmoil on Wall Street and other stock markets in recent weeks.

Those defaults recently led to the collapse of two Bear Stearns funds with risky mortgage-backed investments and last week prompted French bank BNP Paribas to freeze three funds with exposure to the U.S. subprime mortgage market.

Meanwhile, Barron contends that investors should look past the Fed's liquidity injections and to the housing market problems that underlie many investors' concerns about the availability of credit. He sees the fallout from an overheated housing market and an overextended consumer as just beginning to emerge.

"Even if the Fed does cut rates what stimulative effect does that have on the economy? The Fed can make money available but banks still have to lend it," Barron said.

He said banks likely will still be hesitant to make loans easily available only a few months ago.

But despite any lingering concerns about the health of the consumer, investors appeared pleased with the Commerce Department's report that retail sales edged up 0.3 percent in July, slightly ahead of market expectations. Wall Street has been closely monitoring consumer spending, as it accounts for two-thirds of the nation's total economic activity.

Goldman Sachs Group Inc. said Monday its funds using quantitative strategies, or computer modeling, "are currently under pressure" after global markets sold off on worries about debt and credit. The investment bank said it and certain large investors including Maurice "Hank" Greenberg and Eli Broad have committed to a $3 billion equity investment in its Global Equity Opportunities fund, which has "suffered significantly." The fund had a net asset value of about $3.6 billion before the equity investment. Goldman fell $3 to $177.50.

Struggling subprime lender Accredited Home Lenders Holding Co. said it has sued Lone Star Fund V LP and two affiliates to get the private equity firm to follow through with an agreed takeover. Lone Star said Friday in a regulatory filing that Accredited no longer met the conditions of its $400 million acquisition offer. Without a deal, Accredited has cautioned that it may face bankruptcy. The company fell $3.08 or 34.6 percent, to $5.82.

Bond were little changed, with the yield on the 10-year Treasury note falling to 4.78 percent from 4.80 percent late Friday.

Overseas Monday, Japan's Nikkei stock average gained 0.21 percent. European stocks showed sharp gains after a sell-off Friday. Britain's FTSE 100 jumped 2.99 percent, Germany's DAX index added 1.78 percent, and France's CAC-40 rose 2.21 percent.

The dollar was mixed against other major world currencies. Gold futures fluctuated, while oil futures rose. Light, sweet crude rose 13 cents to $71.60 per barrel on the New York Mercantile Exchange.

Advancing issues was about even with decliners on the New York Stock Exchange, where consolidated volume came to 3.54 billion shares, compared to 5.11 billion on Friday.

The Russell 2000 index of smaller companies slipped 8.97, or 1.59 percent, to 779.81.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

http://ichart.finance.yahoo.com/b?s=^IXIC


----------



## bigdog

The NYSE DOW closed LOWER by 207 points on Tuesday August 14:

Sym Last....... ........Change..........
Dow	13,028.92	Down 207.61 (1.57%)
Nasdaq	2,499.12	Down 43.12 (1.70%)
S&P 500	1,426.54	Down 26.38 (1.82%)
10-Yr Bond	4.7320% 	Down 0.0460
NYSE Volume	3,814,492,000
Nasdaq Volume	2,030,764,000

*Overseas*
Japan's Nikkei stock average rose 0.27 percent. Britain's FTSE 100 fell 0.10 percent, Germany's DAX index slipped 0.52 percent, and France's CAC-40 fell 0.82 percent.

Dow Closes Down More Than 200 Points
http://biz.yahoo.com/ap/070814/wall_street.html?.v=45
Stocks Tumble on Credit, Consumer Woes
Tuesday August 14, 5:28 pm ET
By Joe Bel Bruno, AP Business Writer
Wall Street Lower After Disappointing Wal-Mart Results Raises Concerns About Consumer Spending

NEW YORK (AP) -- Wall Street pulled back sharply Tuesday as investors worried about fundamental economic problems as well as the ongoing fallout from credit market problems and stocks' own volatility. The Dow Jones industrials skidded more than 200 points.

The downturn in stocks was first triggered by a report from Wal-Mart Stores Inc. that profit will fall below expectations this year as consumers rein in spending. Home Depot Inc., the world's biggest home improvement chain, added to the slide when it said weakness in the housing market caused quarterly profit to slide.

Confirmation that Sentinel Management Group Inc., which oversees $1.6 billion in assets, is seeking to halt investor redemptions exacerbated the selling. Other funds are said to have similar problems as they face withdrawal demands at a time it has become difficult to value low-quality debt.

Hedge funds and other big institutional investors have taken a beating in recent weeks due to the market turbulence. On Monday, Goldman Sachs Group Inc. said three funds it manages have had significant losses -- and infused $3 billion in capital into one of them.

Wall Street has been pummeled as a deepening credit crunch spooked the market, and led to unease about potential losses at financial firms and funds. The Federal Reserve, which has injected some $64 billion of liquidity into the U.S. banking system since Thursday, said it stood ready to act again should market conditions warrant.

While the market seemed to be looking past most economic news in recent weeks, on Tuesday the earnings reports and their implications for consumer spending compounded an already high state of anxiety on Wall Street.

"The market is very, very sensitive at this point, and any news about a potential financial problems is going to affect the way that the market trades," said Scott Fullman, director of investment strategy for I.A. Englander & Co. "We've been seeing extreme sensitivity in the financials, but also in the consumer stocks and industrials during the session."

The Dow fell 207.61, or 1.57 percent, to 13,028.92. The benchmark index is now on the verge of falling back below the psychologically-important 13,000 mark, which it first crossed in late April.

Broader stock indicators were lower. The Standard & Poor's 500 index shed 26.38, or 1.82 percent, to 1,426.54, and the Nasdaq composite index fell 43.12, or 1.70 percent, to 2,499.12.

The retreat ended a one-day reprieve from triple-digit moves in the Dow, but no one really had expected that the market had moved past its protracted period of volatility. The Dow, which went from 13,000 to 14,000 in just 57 trading days ended in mid-July, is now up only 4.54 percent for the year. Meanwhile, the S&P 500 is close to wiping out all its gains and is ahead just 0.58 percent. The Nasdaq is up 3.47 percent.

Bonds rose, with the yield on the benchmark 10-year Treasury note falling to 4.73 percent from 4.78 percent late Monday. The fixed-income market has rallied as stock investors move into securities deemed less volatile.

Stocks originally were lifted in early trading on government data that indicated inflation remains in check. But, that gave way to further concerns about consumer spending and widening credit worries.

The Labor Department said wholesale prices rose in July for the fifth time in six months. Its Producer Price Index advanced 0.6 percent amid higher energy costs. Excluding often volatile food and energy costs, however, what's known as core PPI rose a modest 0.1 percent.

Mike Malone, a trading analyst at Cowen & Co., said efforts by central banks to stabilize the markets had been somewhat successful. On Tuesday, the European Central Bank injected another $10.5 billion into money markets and said conditions were normalizing after several days of volatility. There was no action Tuesday by the Fed.

He said "there is still a tremendous amount of risk out there."

Among the hardest hit sectors on Tuesday were financial services stocks, which have been sliding as worries mounted that subprime loan trouble could spread to other parts of the economy. Major investment banks have reported losses linked to mortgage-backed securities.

Goldman Sachs fell $7.75, or 4.4 percent, to $169.75 -- extending losses from Monday. Bear Stearns Cos., which earlier this summer disclosed that two of its funds were all but wiped out, fell $3.60, or 3.3 percent, to $106.

Sentinel Management said in a letter to clients it cannot meet investors' requests to withdraw their money without selling investments at a steep discount. Sentinel did not respond to calls for comment. The firm sent a request to the Commodity Futures Trading Commission for permission to stop investors from cashing out, but it was rejected.

Retail stocks were also hit after Wal-Mart, one of the 30 stocks included in the Dow, lowered its profit forecast amid weak economic conditions that it blames for hurting consumer spending globally. The retailer said some of its customers were straining under economic pressures such as higher oil prices.

Wal-Mart shares tumbled $2.35, or 5.1 percent, to $43.82.

Home Depot warned that it expects profit to decline for fiscal 2007 because of a sluggish housing sector. Shares fell $1.72, or 4.9 percent, to $33.52.

Mattel Inc. shares fell 57 cents, or 2.4 percent, to $23 after it announced the recall of 8.8 million toys. It was Mattel's second big recall of Chinese-made toys in two weeks.

Declining issues outpaced advancers by a 3 to 1 on the New York Stock Exchange, where consolidated volume came to 3.72 billion shares, up from 3.54 billion on Monday.

Light, sweet crude rose 76 cents to $72.38 on the New York Mercantile Exchange. The dollar was lower against other major currencies, while gold prices fell.

The Russell 2000 index of smaller companies fell 16.94, or 2.17 percent, to 762.87.

Overseas, Japan's Nikkei stock average rose 0.27 percent. Britain's FTSE 100 fell 0.10 percent, Germany's DAX index slipped 0.52 percent, and France's CAC-40 fell 0.82 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 167 points on Wednesday August 15:

Sym Last....... ........Change..........
Dow	12,861.47	Down 167.45 (1.29%)
Nasdaq	2,458.83	Down 40.29 (1.61%)
S&P 500	1,406.70	Down 19.84 (1.39%)
10-Yr Bond	4.7060% 	Down 0.0260
NYSE Volume	4,290,931,000
Nasdaq Volume	2,325,660,000

Overseas, Japan's Nikkei stock average slid 2.19 percent. Britain's FTSE 100 lost 0.56 percent, Germany's DAX index rose 0.28 percent, and France's CAC-40 dropped 0.66 percent.

*Dow, Nasdaq Hit Four-Month Lows*
http://biz.yahoo.com/ap/070815/wall_street.html?.v=62
*Stocks Tumble After Fed Adds Liquidity*
Wednesday August 15, 6:07 pm ET
By Madlen Read, AP Business Writer
*Dow Fails to Hold Above 13,000; Fed's Cash Injections Can't Pacify Credit Concerns*

NEW YORK (AP) -- Wall Street tumbled again Wednesday after the Federal Reserve added more cash to the banking system but failed to quash investors' jitters about problems in lending.

The market traded nervously, jerking the Dow Jones industrial average above and below the 13,000 mark throughout the day as investors wrestled with reports about potential trouble at Countrywide Financial Corp. and KKR Financial Holdings LLC.

By late in the day, investors saw little reason to buy beyond the fact that stocks are at bargain prices right now, and the Dow closed down nearly 170 points. The Standard & Poor's 500 index also dropped sharply, and is now down for the year.

Central banks worldwide have supplied billions of funds to banks over the past week to make cash available for lending and keep interest rates stable amid signs that credit was drying up. On Wednesday, the Fed said it would accept a "repo" of $7 billion, in which it buys that amount in securities from dealers, who then deposit the money into commercial banks.

Still, the Fed has not indicated that it will free up more cash by making an interest rate cut at its Sept. 18 meeting, a move that many on Wall Street believe could stoke a stock recovery. Inflation has been keeping the central bank from lowering rates; the Labor Department said Wednesday its Consumer Price Index rose a mild 0.1 percent in July, as expected, but energy prices remain high.

"Yes, the market would probably move dramatically higher if they made a cut," said Linda Duessel, market strategist at Federated Investors in Pittsburgh. "But I think it's more prudent to allow this correction to continue to unfold. After all, we're in the month of August and coming into September -- historically, the weakest months of the year. The market has been in need of a correction."

A correction is defined as a 10 percent drop in stock prices. The Dow is now more than 8 percent below its record close of 14,000.41, reached July 19.

The Dow fell 167.45, or 1.29 percent, to 12,861.47, closing below 13,000 for the first time since April 24 and continuing a weeks-long pattern of triple-digit moves.

Broader stock indicators also fell. The S&P 500 index dropped 19.84, or 1.39 percent, to 1,406.70. The Nasdaq composite index lost 40.29, or 1.61 percent, to 2,458.83.

Bonds rose, moving in the opposite direction as stocks. The yield on the benchmark 10-year Treasury note fell to 4.72 percent from 4.73 percent late Tuesday.

The Dow also rose as many as 90 points Wednesday, as investors searched for bargains amid hard-hit stocks. The Chicago Board Options Exchange's volatility index reached another 4-year peak.

"The most savvy investors are seeing an opportunity with the increase in volatility. Individuals not as used to this are having trouble navigating through it," said James Smothermon, Charles Schwab's active trading and investing strategist. He said clients have been changing their strategies through tactics like buying insurance on their portfolios and buying put options, or contracts that let an investor sell part of an asset at a set price within a certain time period.

But ultimately, investors sold off, focusing on the possibility of problems at lenders like Countrywide Financial. Merrill Lynch issued a "sell" rating on the stock, kindling worries about the biggest U.S. home lender's ability to raise cash to secure short-term funds.

Countrywide sunk $3.17, or 13 percent, to $21.19.

In another sign that the market's lending woes are far from over, KKR Financial said it sold about $5.1 billion in residential mortgage loans in a move that will result in a $40 million loss for the specialty finance firm.

KKR fell $4.76, or 31 percent, to $10.52.

Meanwhile, the housing market outlook remains grim. National Association of Home Builders said its housing market index, which tracks builders' perceptions of current market conditions and expectations for home sales over the next six months, dropped this month to the lowest reading since January 1991. It was the sixth-straight monthly decline.

Not all mortgage-lending headlines were dire Wednesday. Thornburg Mortgage Inc.'s shares rebounded after its president said in a CNBC interview that while financing has been difficult, the company will pull through soon. Thornburg rose $3.05, or 33 percent, to $12.30.

And Lone Star Fund V LP, the private equity firm planning to buy Accredited Home Lenders Holding Corp., said it will extend its tender offer for the embattled mortgage lender's shares. Accredited Home Lenders rose 60 cents, or 11 percent, to $6.10.

The bad news appeared to outweigh the good for investors, though, especially with the energy markets facing down a potentially damaging hurricane.

Crude futures rose 95 cents to $73.33 a barrel on the New York Mercantile Exchange, after momentarily surpassing $74. The National Hurricane Center said Tropical Storm Dean, strengthening in the Caribbean and heading west, could be a major hurricane by Thursday, while Tropical Storm Erin entered the Gulf of Mexico. Natural gas retreated from an early spike, though, as traders bet the storms wouldn't threaten the region's facilities.

The Russell 2000 index of smaller companies fell 11.33, or 1.49 percent, to 751.54.

Declining issues outnumbered advancers by 5 to 1 on the New York Stock Exchange, where trading volume came to 4.31 billion shares, up from 3.72 billion shares Tuesday.

Gold prices rose. The dollar rose against the euro and British pound, but fell versus the yen.

Overseas, Japan's Nikkei stock average slid 2.19 percent. Britain's FTSE 100 lost 0.56 percent, Germany's DAX index rose 0.28 percent, and France's CAC-40 dropped 0.66 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 15 points on Thursday August 16:

The Dow Jones industrials, down more than 340 points in afternoon trading, ended the day with a loss of just 15.


Sym Last....... ........Change..........
Dow	12,845.78	Down 15.69 (0.12%)
Nasdaq	2,451.07	Down 7.76 (0.32%)
S&P 500	1,411.27	Up 4.57 (0.32%)
10-Yr Bond	4.6000% 	Down 0.1060
NYSE Volume	2,214,329,000
Nasdaq Volume	3,365,161,000

*Overseas, markets reacted to the declines in the U.S.* 
Britain's FTSE 100 fell 3.05 percent, Germany's DAX index fell 1.86 percent, and France's CAC-40 fell 2.52 percent. In Asia, Japan's Nikkei stock average fell 1.99 percent. Hong Kong's Hang Seng Index fell 3.3 percent, while the often-volatile Shanghai Composite Exchange fell 2.1 percent.

*Stocks Stage Stunning Comeback*
http://biz.yahoo.com/ap/070816/wall_street.html?.v=64
*Wall Street Manages a Late Turnaround*
Thursday August 16, 5:50 pm ET
By Joe Bel Bruno, AP Business Writer
*Wall Street Pulls Off Late Turnaround to End Mixed, but Uncertainty and Jitters Remain*

NEW YORK (AP) -- Wall Street pulled off a dramatic late-session turnaround to close mixed Thursday after bargain hunters lured by weeks of massive declines came back to the stock market. The Dow Jones industrials, down more than 340 points in afternoon trading, ended the day with a loss of just 15.

The market appeared to be on an almost relentless downward spiral after problems at Countrywide Financial Corp. confirmed investors' fears that credit problems are spreading. Moreover, for much of the day, investors shrugged off the Federal Reserve's injection of $17 billion into the banking system, and appeared to be angling for a rate cut instead.

The market clawed back with a bounce in blue chip stocks, with a leadership role going to the downtrodden financial sector.

In spite of the big comeback, Wall Street is still an uncertain place, having been pounded by weeks of losses including triple-digit slides in the Dow. All three of the market's big indexes reached levels Thursday where they were down 10 percent from their mid-July highs -- the definition of a stock market correction.

Some analysts were hopeful.

"The fundamental buyers are coming back into the market, and typically trading in the last half hour of the day is where the smart institutional money is going," said Jack Ablin, chief investment officer at Harris Private Bank. "There's a feeling that maybe we've pushed it too far, and this gives us a running start for positive markets worldwide on Friday."

Still, while the market has seen big gains over the past few weeks, those gains quickly evaporated the next day. Often, the buying has been done by traders or hedge funds trying to cover losses from what's known as short trading. In short trading, an investor sells borrowed stock on a bet that the market will fall; when the market rises, the investor must buy stock to pay back the debt. While bargain hunting helped lift stocks, it's likely that Thursday's gains were also due to short covering.

The Dow fell 15.69, or 0.12 percent, to 12,845.78.

The Standard & Poor's rose 4.56, or 0.32 percent, to 1,411.26, and the Nasdaq composite index dropped 7.76, or 0.32 percent, to 2,451.07. The Russell 2000 index of smaller companies rose 17.29, or 2.30 percent, to 768.83.

Bonds continued their rally as investors fled to safer securities. The yield on the benchmark 10-year Treasury note dropped to 4.66 percent from 4.72 percent late Wednesday. Yields had been as low as 4.60 percent earlier in the session, but began to reverse as stocks rebounded.

Investors have also been hoping that policymakers might lower interest rates to help bolster the economy, which is a positive step for Treasurys. The likelihood of a rate cut before, or at, the next Fed meeting seemed less likely as the central bank instead chose to add more liquidity to the market.

The New York Fed -- which carries out the central bank's market operation -- announced an overnight repurchase agreement worth $12 billion. This was on top of a 14-day "repo" worth $5 billion announced before the market opened.

Central banks around the world have been supplying billions of funds to banks in the past week to make cash available for lending and keep interest rates from rising amid signs that credit was drying up. The Fed uses a repo to buy securities from dealers, who then deposit the money into commercial banks.

St. Louis Fed President William Poole told Bloomberg Television after the closing bell Wednesday it wasn't necessary for the central bank to consider lowering short-term interest rates before the regularly scheduled meeting of its rate-setting committee next month.

The Fed left rates unchanged at its last meeting at 5.25 percent, where it has stood since last summer. However, policymakers said during their commentary that inflation continues to be a worry, and also recognized the debt and credit crunch for the first time.

"I think there is more confidence of a lasting rally in equities if the Fed cuts rates, and that makes it easier on days like this to do bargain hunting," said John Lonski, chief economist for credit-rating agency Moody's Investors Service. "And, the more investors sense that the U.S. economy can shoulder losses arising from subprime mortgages, the closer we are to stabilization in equities."

Countrywide fell $2.34, or 11 percent, to $18.95 after the mortgage lender borrowed $11.5 billion from a group of 40 banks to fund loans, in a move that shows just how deep the lending crisis has become. The company has been slammed as the credit crunch has driven a number of its smaller peers to bankruptcy.

But, there appeared to be renewed sense that bigger financial institutions would be able to withstand troubles in the mortgage industry. Delinquencies and defaults among loans extended to risky borrowers have seeped into the fixed-income market, where mortgage-back securities have suffered.

Bear Stearns Cos. shares have tanked because two hedge funds it managed failed because of wrong-way bets on mortgage-backed securities, surged $13.29, or 12.9 percent, to $116.55 on Thursday. The investment bank confirmed Thursday it cut 240 subprime mortgage-related jobs; Bear Stearns employs about 15,000 people.

Goldman Sachs Group Inc., which announced some of its hedge funds also have taken a massive hit, rose $4.95, or 3 percent, to $169.85.

Bill Strazzullo, partner and chief market strategist at Bell Curve Trading, pointed out that the S&P financial select exchange-traded SPDR, a key indicator that tracks financial stocks, has fallen to levels not seen since July 2006 -- just ahead of the stock market's big record-breaking run.

"That was the beginning of a major rally -- we retraced the whole thing," said Strazzullo. "The financials have been hammered. Most people who are bullish on the market think that bigger picture, everything will be OK, and look at it as an opportunity to buy in."

The SPDR is now down about 17 percent from its recent highs, reached nearly two months, in late June.

But, investors certainly had their share of worries to contend with during most of Thursday's session. The Federal Reserve Bank of Philadelphia said its general economic index dropped to zero in August from 9.2 in July. This meant that the regional economy is not expanding, or contracting; the news only further soured the mood on the Street.

Also adding to the unease, the yen rose to a one-year high against the dollar, stirring concern that some investors were getting out of a trading strategy referred to as the yen carry trade -- using the Japanese currency to acquire higher-yielding assets elsewhere. The dollar was down against most major currencies on Thursday.

The Commerce Department reported that construction of new homes fell to the lowest level in more than a decade in July as builders continued to struggle with the steepest housing slump since 1991.

Advancing issues outpaced decliners by a 2 to 1 basis on the New York Stock Exchange, where volume came to 2.92 billion shares, up from 1.99 billion Wednesday.

Light, sweet crude fell $2.33 to $71 per barrel on the New York Mercantile Exchange, giving back Wednesday's gains as storms brewing in the Caribbean didn't appear to pose a threat to energy operations. Analysts believe worries about the economy, and stocks, have also struck fear among oil investors.

Overseas, markets reacted to the declines in the U.S. Britain's FTSE 100 fell 3.05 percent, Germany's DAX index fell 1.86 percent, and France's CAC-40 fell 2.52 percent. In Asia, Japan's Nikkei stock average fell 1.99 percent. Hong Kong's Hang Seng Index fell 3.3 percent, while the often-volatile Shanghai Composite Exchange fell 2.1 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## Porper

Just playing around with some fib projections, as most will know, we are either in a wave C down or wave 3 of 5 of a more serious move down.

There is some strong evidence that we could move higher from here, maybe only a bounce but still a good move up.Of course this mornings close way off the lows helps as well.

The Oscilator is oversold, so a crossover could occur tonight or in the next day ot 2.

People don't want to carry trades over the weekend, hence the big sell off this afternoon.

I am scanning now and intend to buy in before close with guaranteed stops.It is pre-empting the oscilator crossover, but still, we'll see how it goes.


----------



## bigdog

The NYSE DOW closed HIGHER by 233 points on Friday August 18:

Dow Closes 233 Points Higher

The Fed -- which had resisted lowering rates despite weeks of market volatility, and instead added nearly $120 billion in liquidity into the banking system -- cut its discount rate to 5.75 percent from 6.25 percent.

Sym Last....... ........Change..........
Dow	13,079.08	Up 233.30 (1.82%)
Nasdaq	2,505.03	Up 53.96 (2.20%)
S&P 500	1,445.94	Up 34.67 (2.46%)
10-Yr Bond	4.6730% 	Up 0.0730
NYSE Volume	758,015,000
Nasdaq Volume	2,648,211,000

Major European indexes recovered substantially after the Fed's announcement from steep declines in earlier trading. Britain's FTSE 100 rose 3.50 percent, Germany's DAX index rose 1.49 percent, and France's CAC-40 rose 1.86 percent.

In Asian trading, which closed before the Fed lowered the discount rate, Japan's Nikkei stock average had plunged 5.42 percent as the yen continued its climb against the dollar. The dollar briefly dipped below 112 yen for the first time in over a year, suggesting that some investors were taking their Japanese currency out of higher-yielding dollar assets.

http://biz.yahoo.com/ap/070817/wall_street.html?.v=80
*Stocks Rebound on Discount Rate Cut*
Friday August 17, 5:30 pm ET
By Madlen Read, AP Business Writer
Stocks Gain After Federal Reserve Lowers Rate It Charges Banks for Loans

NEW YORK (AP) -- Stocks barreled higher Friday after the Federal Reserve did what Wall Street was clamoring for and cut its key discount rate a half percentage point. The move quelled investors' credit worries at least for the time being and sent the Dow Jones industrials up about 230 points.

The Fed -- which had resisted lowering rates despite weeks of market volatility, and instead added nearly $120 billion in liquidity into the banking system -- cut its discount rate to 5.75 percent from 6.25 percent. The central bank acknowledged that the stock market turbulence that has pulled the Dow down by hundreds of points a day was posing a risk to economic growth.

"People were kind of baiting the Fed into doing something, and finally they did," said Philip Dow, managing director of equity trading at RBC Dain Rauscher. "The playground monitor finally showed up, and it showed someone cares and someone is bringing rationality into the market."

But the central bank made no mention of lowering its target for the federal funds rate, which has stood at 5.25 percent for more than a year. The fed funds rate determines the rates that banks charge each other, while the discount rate only covers loans the Fed makes to banks. Many strategists believe the market won't settle down until the Fed lowers the fed funds rate target, considered a more significant benchmark.

If the market doesn't get that rate cut, Friday's gains may not stick, especially since it's likely there will be plenty more news in the coming days and weeks of further troubles in the lending industry. Any mention of problems at subprime lenders or funds that invested in mortgages has sent stocks skidding over the past few weeks, and so have worries that tighter credit will stanch the flood of takeovers, which sent Wall Street to new highs earlier this year.

"Today's move, while helpful psychologically, didn't really alter the stresses on the system," said Hugh Whelan, managing director at Hartford Investment Management Co. "If you're a leveraged financial institution, a leveraged individual, a leveraged hedge fund, on Monday when you walk in, you're still facing the same stresses you faced today and yesterday."

Still, the Fed made it clear this wasn't the only step it would take if the volatility continued. In its statement, the Fed said it "is prepared to act as needed."

The Dow surged 233.30, or 1.82 percent, to 13,079.08.

The blue chip index stayed in positive territory the whole day, though trading was still volatile. The Dow rose more than 320 points in early trading, gave up more than half those gains, and then gained steam once more.

A series of triple-digit losses over the past couple of weeks have gnawed a 6 percent dent in the Dow since it closed at a record 14,000.41 on July 19. The index, despite Friday's robust gains, finished down than 1 percent for the week; the result of the heavy selling that preceded the Fed's move.

The Standard & Poor's 500 index rose 34.67, or 2.46 percent, to 1,445.94, and the Nasdaq composite index rose 53.96, or 2.20 percent, to 2,505.03.

Bonds slipped as stocks rose, with the yield on the benchmark 10-year Treasury note rising to 4.68 percent from 4.66 percent late Thursday.

Traders who bet on how the Fed might alter rates expect the central bank will lower the benchmark fed funds rate at its next meeting on Sept. 18. Some investors are hoping for a cut in that benchmark rate even sooner.

"If the cut in the discount rate succeeds in restoring confidence, then perhaps there is no need for the Fed to cut rates at the Sept. 18 meeting," said John Lonski, chief economist of Moody's Investor Service. He added, though, that the key line in the Fed's statement Friday was its willingness to take more steps to prevent market volatility from harming the economy.

"That means the Fed is prepared to make a rate cut if stability doesn't come," Lonski said.

Gains were seen in all sectors of the stock market, but financial stocks, which have been battered by the growing problems in mortgage lending, saw particularly heavy buying. Dow component JPMorgan Chase & Co. rose 3.4 percent, while Merrill Lynch and Lehman Brothers rose more than 6 percent.

The pummeled stocks of mortgage lenders also saw significant increases. The most actively traded stock on the New York Stock Exchange, and one of its biggest percentage gainers, was Countrywide Financial Corp. The home mortgage lender rose $2.48, or 13.1 percent, to $21.43.

Energy and industrial companies also strengthened notably. The biggest gainers among the 30 Dow companies were aluminum producer Alcoa Inc. and oil company Exxon Mobil Corp., which both jumped more than 4 percent.

Major European indexes recovered substantially after the Fed's announcement from steep declines in earlier trading. Britain's FTSE 100 rose 3.50 percent, Germany's DAX index rose 1.49 percent, and France's CAC-40 rose 1.86 percent.

In Asian trading, which closed before the Fed lowered the discount rate, Japan's Nikkei stock average had plunged 5.42 percent as the yen continued its climb against the dollar. The dollar briefly dipped below 112 yen for the first time in over a year, suggesting that some investors were taking their Japanese currency out of higher-yielding dollar assets.

The dollar was mixed against other major currencies. Gold prices jumped.

Advancing issues outnumbered decliners by about 7 to 1 on the New York Stock Exchange, where volume came to 2.48 billion shares, down from 2.92 billion shares.

The Russell 2000 index of smaller companies added 17.20, or 2.24 percent, to 786.03.

Crude oil futures rose 98 cents to $71.98 a barrel. Traders have been tracking the path of Hurricane Dean, which is threatening to head west into the Gulf of Mexico, where many oil installations are located.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 42 points on Monday August 20:

Sym Last....... ........Change..........
Dow	13,121.35	Up 42.27 (0.32%)
Nasdaq	2,508.59	Up 3.56 (0.14%)
S&P 500	1,445.55	Down 0.39 (0.03%)
10-Yr Bond	4.6340% 	Down 0.0390
NYSE Volume	3,321,370,000
Nasdaq Volume	1,727,359,000

Overseas, Britain's FTSE 100 rose 0.24 percent, Germany's DAX index gained 0.40 percent, and France's CAC-40 rose 0.67 percent. 

In Asia, Japan's Nikkei stock average closed up 3 percent. Hong Kong's Hang Seng Index rose 5.93 percent, while the often-volatile Shanghai Composite Exchange surged 5.33 percent.

http://biz.yahoo.com/ap/070820/wall_street.html?.v=53
*Stocks End Mostly Higher on Lack of News*
Monday August 20, 6:07 pm ET
By Joe Bel Bruno, AP Business Writer
*Stocks End Mostly Higher Amid Relief of Lack of News; Investors Seek Short-Term Treasurys*

NEW YORK (AP) -- Stocks closed mostly higher Monday as investors appeared relieved that little bad news emerged about risky mortgages and shrinking credit markets. Still, many on Wall Street were still seeking safety, and pressed into shorter-term Treasurys.

The market endured back-and-forth trading following a rally Friday that came in response to the Federal Reserve's decision to lower its discount rate. The Fed said at the time it stood ready to make further moves to keep credit and stock market losses from hurting the economy, but because it stopped short of a cut in the more important federal funds rate, uncertainty lingered on Wall Street Monday about policymakers' intentions. The Fed is not scheduled to meet formally until Sept. 18, which means investors could remain jittery until then.

Brian Levitt, corporate economist at OppenheimerFunds Inc., said the Fed's move, while helpful, won't erase all the market's unease.

"Fed action certainly doesn't make unsound credit sound. It allows some confidence for the higher quality deals to get done. It's more psychological. It provides confidence that the Fed will be a stopgap and a lender of last resort."

Treasury bonds, which have rallied in recent weeks as investors fled to safe-haven securities, continued their move higher Monday. Because bond prices move opposite their yields, the yields on the benchmark 10-year Treasury note fell to 4.63 percent from 4.68 late Friday, while the shorter-duration notes saw yields fall sharply as some investors wagered that the Fed might be forced to lower interest rates and therefore avoided longer-duration notes.

The Dow Jones industrials finished up 42.27, or 0.32 percent, at 13,121.35, after seeing 100-point swings higher and lower.

Broader indexes were mixed. The Standard & Poor's 500 index slipped 0.39, or 0.03 percent, to 1,445.55; the Nasdaq composite index rose 3.56, or 0.14 percent, to 2,508.59.

While Wall Street largely shrugged off layoffs at Countrywide Financial Corp. and a big sale of more liquid investments at Thornburg Mortgage Inc., stocks could face pressure Tuesday following word that Capital One Financial Corp. plans to close its wholesale mortgage business and book charges of $860 million in charges in 2007. The company, which also slashed its profit forecast, made the announcement after the closing bell.

Monday's erratic trading wasn't unexpected; analysts had questioned how much conviction buyers had on Friday, as much of the rally was pinned on big institutional investors like hedge funds buying shares to cover their positions. Some investors had been shorting the market -- betting stocks would move lower -- and were caught off guard when the central bank cut the discount rate.

"There's a lot of uncertainties out there," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners. "The question is if the Fed did enough to satisfy the markets. Wall Street will be relentless until they cut the fed funds rate."

The Fed also said Monday it injected another $3.5 billion into the banking system. The central bank has infused the market with nearly $120 billion of liquidity in recent weeks.

Light, sweet crude fell 90 cents to $71.08 on the New York Mercantile Exchange. Investors have been wary as Hurricane Dean has moved toward Mexico, where major oil companies have already begun battening down oil rigs in the Gulf of Mexico.

The dollar was mixed against major currencies, while gold prices rose.

This week will be light on economic reports, which makes it a bit more difficult for investors to assess what the Fed might do at its rate-setting meeting. In one economic reading that arrived Monday, the Conference Board said its gauge of future economic activity moved slightly higher in July.

The research group's index of leading economic indicators rose 0.4 percent in July, as analysts expected. The index fell 0.3 percent in June, after rising 0.2 percent in May. The report is designed for forecast economic activity over the next three to six months.

With earnings season mostly wrapped up, there was little in the way of corporate news for investors to go by. August is typically one of the slowest periods for equities markets.

Thornburg fell $1.54, or 10.2 percent, to $13.50 after the company said it sold $20.5 billion of its safest investments to raise enough cash to allow the mortgage lender to operate amid a crisis in the mortgage industry. Countrywide, the nation's largest mortgage lender, has begun laying off staff amid the credit crunch. The stock fell $1.62, or 7.6 percent, to $19.81.

Energy and transportation stocks showed gains Monday, while financial stocks, which spiked on Friday after the Fed announcement, lost ground Monday. The downtrodden sector stands to benefit from the Fed's discount rate cut. Exxon Mobil Corp. rose 39 cents to $84.53, while Goldman Sachs Group Inc. fell $2.24 to $172.76, while Citigroup Inc. dropped 42 cents to $48.39.

Lowe's Cos., the No. 2 U.S. home improvement chain, reported a second-quarter profit that surpassed Wall Street projections. Despite the slumping housing market, the company said it will open 40 stores during the current quarter, and believes sales will rise 6 percent for the year. Lowe's shares rose $1.63, or 6.1 percent, to $28.50.

Advancing issues outweighed decliners by about 3 to 2 on the New York Stock Exchange, where consolidated volume fell to 3.3 billion shares -- typical of an August session -- from a heavy 5.01 billion shares traded Friday.

The Russell 2000 index of smaller companies rose 1.42, or 0.18 percent, to 787.45.

Overseas, Britain's FTSE 100 rose 0.24 percent, Germany's DAX index gained 0.40 percent, and France's CAC-40 rose 0.67 percent. In Asia, Japan's Nikkei stock average closed up 3 percent. Hong Kong's Hang Seng Index rose 5.93 percent, while the often-volatile Shanghai Composite Exchange surged 5.33 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 30 points on Tuesday August 21:

 however Nasdaq	2,521.30	Up 12.71 (0.51%) and S&P 500	1,447.12	Up 1.57

*Stocks End Erratic Session Mostly Higher*

Sym Last....... ........Change..........
Dow	13,090.86	Down 30.49 (0.23%)
Nasdaq	2,521.30	Up 12.71 (0.51%)
S&P 500	1,447.12	Up 1.57 (0.11%)
10-Yr Bond	4.5900% 	Down 0.0440
NYSE Volume	3,069,256,000
Nasdaq Volume	1,729,207,000

Overseas, Britain's FTSE 100 rose 0.12 percent, Germany's DAX index rose 0.23 percent, and France's CAC-40 rose 0.36 percent. 

In Asia, Japan's Nikkei stock average rose 1.07 percent. Hong Kong's Hang Seng Index rose 0.62 percent.

China's central bank said Tuesday it would raise its benchmark lending and deposit rates to curb inflation. The often-volatile Shanghai Composite Exchange rose 1.03 percent, to its highest-ever close.


http://biz.yahoo.com/ap/070821/wall_street.html?.v=60
*Stocks End Erratic Session Mostly Highe*r
Tuesday August 21, 7:09 pm ET
By Joe Bel Bruno, AP Business Writer
*Stocks End Erratic Session Mostly Higher As Investors Look for Fed to Cut Rates Further*

NEW YORK (AP) -- Wall Street ended another erratic session mostly higher Tuesday as investors, waiting for the Federal Reserve's next move to steady the markets, made few big commitments to stocks.

Comments from policymakers and government officials tugged at a market looking for any evidence the Fed will cut rates to help contain the credit crisis that began with the failure of subprime loans.

The Fed has taken a number of steps to prop up the nation's financial institutions ahead of its scheduled Sept. 18 meeting, including injecting more liquidity into the banking industry and cutting the discount rate. But many on Wall Street want the Fed to do more, including lowering the more important federal funds rate, and to do it before next month's meeting.

Traders reacted positively to comments from Senate Banking Committee Chairman Christopher Dodd who said Fed Chairman Ben Bernanke isn't satisfied with Wall Street's response to his efforts to stabilize markets torn by anxiety about shrinking credit. Dodd, after a meeting with Bernanke and Treasury Secretary Henry Paulson, said policymakers plan to use "all tools available" to complete its mission.

But that bullishness cooled after Richmond Fed President Jeffrey Lacker said the central bank's policy must be guided by fundamentals, rather than market swings -- indicating that a cut in the fed funds rate cut might not be among the tools the Fed plans to use.

"There are two camps out there, one that thinks we need a rate cut and the other doesn't feel the economy has slowed enough to warrant one," said Janna Sampson, director of portfolio management at Oakbrook Investments. "I think which camp leads on each day, or even each hour, is what is leading to all this volatility. There's just too much uncertainty."

The 30-stock Dow Jones industrial average fell 30.49, or 0.23 percent, to 13,090.86 after moving in and out of positive territory throughout the day.

Broader market indexes were slightly higher. The Standard & Poor's 500 index rose 1.57, or 0.11 percent, to 1,447.12, and the Nasdaq composite index rose 12.71, or 0.51 percent, to 2,521.30. The Russell 2000 index of smaller companies added 0.93, or 0.12 percent, to 788.38.

Advancing issues outnumbered decliners by about 3-to-2 on the New York Stock Exchange, where consolidated volume came to 2.95 billion shares, compared with 3.3 billion shares traded Monday.

Bonds continued to rally as more investors moved money from stocks to the safer haven of the Treasury market. The yield on the benchmark 10-year Treasury note fell to 4.59 percent from 4.63 percent late Monday. Bond prices move opposite their yields.

The day's trading session echoed the erratic pattern seen Monday, when the Dow changed course several times and swung in a 200-point range before closing only slightly higher. But Tuesday's volatility was much more mild, free from triple-digit swings, as investors took a more cautious tone.

"The lack of volatility usually means markets are complacent and vulnerable," said A.C. Moore, chief investment strategist for Dunvegan Associates. "Volatility isn't a bad thing, and usually is positive after an initial down swing like we had. It means cash reserves are being raised and employed."

Trading also reflected speculation that the global credit crunch is nowhere near over. Countrywide Financial Corp. was said to be a takeover target due to losses linked to distressed subprime mortgages. And, investors expected more layoffs after Capital One Financial Corp. said it was shuttering its GreenPoint Mortgage unit and slashing 1,900 jobs.

Capital One shares rose $1.75, or 2.6 percent, to $68.47; Countrywide spiked $1.98, or 10 percent, to $21.79.

With no major economic reports scheduled, investors pored over a number of earnings reports from retailers to gauge the health of consumer spending. However, the reports failed to give the market direction.

BJ's Wholesale Club Inc. reported second-quarter profit rose 37 percent to surpass projections, and its shares rose 92 cents, or 3 percent, to $31.71.

Meanwhile, Target Corp. rose $1.01 to $60.10 after it reported profit grew 13 percent. The discount retailer said profits rose almost 13 percent, but was cautious on the rest of the year.

Staples Inc., the largest U.S. office supplies retailer, reported a higher quarterly profit on Tuesday, matching Wall Street projections. However, it issued a cautious forecast for the rest of the year. The stock fell 1 cent to $23.30.

Overseas, Britain's FTSE 100 rose 0.12 percent, Germany's DAX index rose 0.23 percent, and France's CAC-40 rose 0.36 percent. In Asia, Japan's Nikkei stock average rose 1.07 percent. Hong Kong's Hang Seng Index rose 0.62 percent.

China's central bank said Tuesday it would raise its benchmark lending and deposit rates to curb inflation. The often-volatile Shanghai Composite Exchange rose 1.03 percent, to its highest-ever close.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 145 points on Wednesday August 22:

Sym Last....... ........Change..........
Dow	13,236.13	Up 145.27 (1.11%)
Nasdaq	2,552.80	Up 31.50 (1.25%)
S&P 500	1,464.07	Up 16.95 (1.17%)
10-Yr Bond	4.62% 	Up 0.03
NYSE Volume	3,309,129,000
Nasdaq Volume	1,879,202,000

*Overseas*
Japan's Nikkei stock average fell less than 0.01 percent. Britain's FTSE 100 rose 1.81 percent, Germany's DAX index gained 1.02 percent, and France's CAC-40 added 1.83 percent.

*Bank Borrowing and Bond Sales Boost Bulls*
http://biz.yahoo.com/ap/070822/wall_street.html?.v=49
*Stocks Rise As Risk Appetite Returns*
Wednesday August 22, 6:07 pm ET
By Madlen Read, AP Business Writer
*Wall Street Advances As Investors Sell Safe Government Bonds, Banks Borrow From Fed*

NEW YORK (AP) -- Wall Street showed nascent confidence in the credit markets Wednesday, surging higher in response to a pullback in Treasurys and an increase in borrowing by banks. Investors saw both trends as signs that the Federal Reserve's efforts to loosen up the credit market might be working.

The Dow Jones industrial average soared more than 140 points as the 3-month Treasury bill, which earlier in the week drew massive buying as investors sought the safety of short-term government assets, fell Wednesday. The selling boosted its yield to 3.66 percent, up from 3.59 percent late Tuesday and Monday's low of 2.51 percent -- an indication that stocks are no longer seen as risky as they were just a few days ago.

"It gives the market a little comfort that it's not all about buying risk-free securities," said Scott Wren, equity strategist for A.G. Edwards & Sons. "There's less of a flight to quality. ... In my mind, the pullback in the stock market is entirely due to what's going on in the credit market. The fundamentals have been good. Valuations are reasonable. It's just the fear of the unknown in terms of the credit market."

Wall Street, which has been angling for the Fed to help ease the credit crunch by cutting the benchmark federal funds rate, was knocked down several rungs in recent weeks by worries about lending troubles crimping economic and corporate growth.

Wednesday's advance was Wall Street's first substantial move higher after the Fed lowered its discount rate Friday, trying to calm investors and avert damage to the economy from the stock market turmoil. Although stocks rose Friday, the advance was seen as an attempt by investors to square their positions rather than a fundamental shift in sentiment. And trading Monday and Tuesday was clearly shaky.

However, market watchers cautioned that trading volumes were lower than normal Wednesday and that any troubling headline in the lending industry could still trigger credit fears and more selling.

Giving some investors reason to believe the steps the Fed has already taken may be enough, the nation's four biggest banks -- Citigroup Inc., JPMorgan Chase & Co., Bank of America Corp. and Wachovia Corp. -- said they each borrowed $500 million from the Federal Reserve's discount window.

Investors were also heartened that dealmaking is persisting despite credit jitters. An affiliate of Dubai's government said it was investing $5.1 billion in casino operator MGM Mirage; Nymex Holdings Inc.'s chairman said the commodities exchange has been meeting with suitors; and Rio Tinto PLC said it was able to close the loan syndication to fund its $38.1 billion buy of Canadian miner Alcan Inc.

The Dow rose 145.27, or 1.11 percent, to 13,236.13.

Broader stock indicators jumped as well. The Standard & Poor's 500 index rose 16.93, or 1.17 percent, to 1,464.05, while the Nasdaq composite index gained 31.50, or 1.25 percent, to 2,552.80.

As short-term government security prices fell, so did their longer-term counterparts. The 10-year Treasury note's yield climbed to 4.65 percent from 4.59 percent late Tuesday.

Also calming investors, the Fed made a relatively small repurchase of $2 billion, in which it buys that amount in collateral from dealers, who then deposit the money into commercial banks.

The fed funds rate, the rate banks charge each other for loans, fell to 4.25 percent after opening at 5.125 percent. But traders who bet on the Fed's next move were still pricing in an interest rate cut at its next meeting on Sept. 18. Some speculate the central bank will lower rates before then.

Wall Street's sentiment could turn if it doesn't get that rate cut -- which is a distinct possibility, Wren said.

"I don't want the stock market betting on, counting on, needing the Fed to cut rates in September," Wren said. "There's a lot of reasons why the Fed wouldn't cut rates. They've been talking about inflation for forever."

For now, though, investors appeared satisfied that the Fed's move Friday to lower the discount rate is helping to keep the markets liquid.

It's a positive signal that banks are using the discount window as the Fed encouraged them to, said Michelle Girard, senior economist at fixed income firm RBS Greenwich Capital. On the other hand, she said, the four institutions that did so aren't ones that have had difficulty tapping funds elsewhere.

"I still think everybody's in a watchful, waiting mode," Girard said. "Certainly, things today looked more stable ... but it's way to soon to breathe a big sigh of relief and say the turmoil has past."

Money Fund Report, a service of iMoneyNet, said that in the week ended Tuesday, $75.49 billion flowed into government institutional and government retail money funds, while $15.26, or 1.5 percent, flowed out of prime institutional money funds. But prime retail money fund assets grew by $6.80 billion, or 1.0 percent.

Prime funds hold a significant amount of commercial paper, the report said. Wall Street has worried that commercial paper, bonds that companies issue to get cash quickly, have become harder to sell.

The Russell 2000 index of smaller companies rose 10.18, or 1.29 percent, to 798.56.

Advancing issues outnumbered decliners by about 4 to 1 on the New York Stock Exchange. Consolidated volume came to 3.29 billion shares, up from 2.95 billion Tuesday but below last week's levels.

Nymex Holdings Inc. rose $7.28, or 6.1 percent, to $126.06. A Deutsche Bank analyst raised his price target on Nymex, saying even if the exchange is not bought, it can cut costs and raise prices.

MGM Mirage rose $6.62, or 8.9 percent, to $80.94 on its deal with Dubai World.

Rio Tinto rose $14.87, or 6.1 percent, to $259.40 after closing its loan syndication, and Alcan rose 99 cents to $97.11.

The housing sector still appears far from recovery, even in the high-end market. Luxury homebuilder Toll Brothers Inc. reported that its third-quarter profit tumbled, but the results were not as bad as Wall Street had anticipated. Toll Brothers rose $1.06, or 5 percent, to $22.15.

The dollar was mixed against other major currencies. Gold rose.

Crude oil fell 31 cents to $69.26 a barrel on the New York Mercantile Exchange.

Overseas, Japan's Nikkei stock average fell less than 0.01 percent. Britain's FTSE 100 rose 1.81 percent, Germany's DAX index gained 1.02 percent, and France's CAC-40 added 1.83 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 0.25 points on Thursday August 23:

Sym Last....... ........Change..........
Dow	13,235.88	Down 0.25 (0.00%)
Nasdaq	2,541.70	Down 11.10 (0.43%)
S&P 500	1,462.50	Down 1.57 (0.11%)
10-Yr Bond	4.62% 	Down 0.00
NYSE Volume	3,109,151,000
Nasdaq Volume	1,660,963,000

Britain's FTSE 100 rose 0.01 percent, Germany's DAX index rose 0.15 percent, and France's CAC-40 rose 0.09 percent. In Asia, Japan's Nikkei stock average closed up 2.61 percent, and Hong Kong's Hang Seng Index rose 2.77 percent.

*Stocks Dip As Credit Worries Persist*
http://biz.yahoo.com/ap/070823/wall_street.html?.v=47
Thursday August 23, 6:46 pm ET
By Joe Bel Bruno, AP Business Writer
*Wall Street Slightly Lower As Credit Worries Linger Despite Countrywide Investment*

NEW YORK (AP) -- Wall Street ended a mildly erratic day slightly lower Thursday after anxiety about widening credit problems offset investor optimism about a $2 billion capital infusion into troubled mortgage lender Countrywide Financial Corp.

The market gave up a moderate early gain, but fluctuations were to be expected given the amount of uncertainty about the credit markets, and the fact that stocks posted big gains Wednesday, pushing the Dow Jones industrials up 145 points.

Bank of America Corp. announced late Wednesday it will invest the money into the nation's largest mortgage lender to help it better weather problems with defaulting subprime loans. The investment was seen as a way to not only prop up Countrywide, but also prevent any further losses at the mortgage lender from hurting the underlying economy. Countrywide's CEO Angelo Mozilo expressed his optimism about the deal in an interview on CNBC on Thursday, but when asked if the housing slump could cause a recession, he agreed.

The market will likely be trading nervously "until we get some clarity from the Fed," said Jim Herrick, manager and director of equity trading at Baird & Co.

The Federal Reserve's moves to ease the market's credit concerns, including cash injections into the banking system and a lower discount lending rate to banks, have had some palliative effect on Wall Street, evidenced by the ebbing of the extreme volatility of recent weeks. But regarding the Fed's moves and Bank of America's investment in Countrywide, "some would argue that this is a Band-Aid approach to a bigger problem ... The big unknown is how widespread this problem is," Herrick said.

The Countrywide CEO's comments "probably didn't help" the market, he said. "They're the biggest lender in America."

The market showed little response Thursday to policymakers' infusion of another $17.25 billion into the banking system to help boost liquidity, adding to the $41.25 billion the central bank has injected since the beginning of last week.

The Dow fell 0.25, or less than 0.01 percent, to 13,235.88.

Broader indexes fell modestly. The Standard & Poor's 500 index lost 1.57, or 0.11 percent, closing at 1,462.50, and the Nasdaq composite index fell 11.10, or 0.43 percent, to 2,541.70.

The Russell 2000 index of smaller companies fell 10.31, or 1.29 percent, to 788.25.

Though the major stock indexes finished a bit lower, advancing issues narrowly outnumbered decliners on the New York Stock Exchange. Consolidated volume came to a light 3.08 billion shares, down from 3.29 billion Wednesday.

Government securities were mixed. The 10-year Treasury note's yield fell to 4.63 percent from 4.65 percent late Wednesday, but the 3-month Treasury bill's yield surged to 3.93 percent from 3.66 percent.

Crude oil rose 57 cents to $69.83 a barrel on the New York Mercantile Exchange. Gold dipped slightly. The dollar was mixed against other major currencies.

Though Bank of America's move was reassuring to investors, a number of major banks and home lenders still face difficulties. On Wednesday, Lehman Brothers Holdings Inc. said it would close its BNC Mortgage unit and slash 1,200 jobs; HSBC Holdings PLC and Accredited Home Lenders Holding Co. also said they would eliminate jobs.

"Moving up or down a little is OK because I think investors need some time to digest all the news out there, and they are still really hoping the Federal Reserve will lower interest rates," said Neil Massa, equity trader at John Hancock Funds. "You're not seeing the rush to sell, nor the panic buying, that we've had before."

The Fed's cut last Friday of the discount rate, the interest it charges banks to borrow, did little to alleviate concern about distressed subprime mortgages and a difficult credit environment, although it did remove some of the volatility that has torn the stock market over the past month. Investors are hoping the Fed will take the more dramatic step of lowering its benchmark federal funds rate.

Analysts say the markets are expected to be somewhat choppy until Wall Street gets a clearer picture about the Fed's intentions when it meets on Sept. 18.

Five banks have said they responded to the discount rate cut by borrowing from the Fed. Borrowing money from the central bank is usually seen as a negative action by banks, but the move was designed to bolster the financial system. The Federal Reserve said Thursday the weekly average of borrowing, for the seven days ending Wednesday, was $1.2 billion -- the third-highest weekly average since at least the Sept. 11, 2001, terror attacks, the Fed said.

The Bank of America deal, which could ultimately give the bank a 16 percent stake in Countrywide, was viewed as a sign that U.S. financial companies are willing to step in. Last week, Countrywide borrowed about $12 billion from U.S. banks to keep it going.

Bank of America shares rose 23 cents to $51.88, while Countrywide rose 20 cents to $22.02, paring earlier gains.

But Wall Street is still worried that commercial paper, bonds that companies sell to get quick cash, has become harder to sell. The total amount of commercial paper outstanding fell for the second week in a row to $2.042 trillion in the week ended Wednesday, the Fed said, down $90.2 billion from the previous week.

Most of that loss was in asset-backed commercial paper, much of which is mortgage-backed. Asset-backed commercial paper fell $77.1 billion to $1.057 trillion, meaning that 6.8 percent of companies' commercial paper couldn't be rolled over.

Britain's FTSE 100 rose 0.01 percent, Germany's DAX index rose 0.15 percent, and France's CAC-40 rose 0.09 percent. In Asia, Japan's Nikkei stock average closed up 2.61 percent, and Hong Kong's Hang Seng Index rose 2.77 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed HIGHER by 142 points on Frdiay August 24:

Sym Last....... ........Change..........
Dow	13,378.87	Up 142.99 (1.08%)
Nasdaq	2,576.69	Up 34.99 (1.38%)
S&P 500	1,479.37	Up 16.87 (1.15%)
10-Yr Bond	4.6330% 	Up 0.0150
NYSE Volume	2,541,400,000
Nasdaq Volume	1,670,961,000

*Overseas*
Britain's FTSE 100 rose 0.37 percent, Germany's DAX index slipped 0.06 percent, and France's CAC-40 rose 0.83 percent. In Asia, Japan's Nikkei stock average closed down 0.41 percent. Hong Kong's Hang Seng Index fell 0.20 percent. Stocks finished lower in Asia in part because

*Bulls Mad Dash Ends Week on Wall St.*
http://biz.yahoo.com/ap/070824/wall_street.html?.v=48
*Stocks End Higher on Solid Economic Data*
Friday August 24, 5:42 pm ET
By Tim Paradis, AP Business Writer
*Dow, Nasdaq Finish Higher on Strong Economic Readings in Home Sales, Durable Goods Orders*

NEW YORK (AP) -- Wall Street ended its calmest week in a month with a big advance Friday, rising on solid economic readings that countered the bleak sentiment that has blanketed the financial markets. The Dow Jones industrial average rose more than 140 points in a lightly traded session.

Stocks started out flat but jumped following a stronger-than-expected reading on new homes sales for July. That report followed a reading showing orders to factories for big-ticket goods rose sharply in July.

The stock market's gains Friday after several stable or positive sessions suggested that Federal Reserve policymakers and stock market investors have perhaps struck a truce -- maybe only a tenuous one -- with the Fed acknowledging it stands ready to try to fend off a calamitous seizing up of the credit markets and investors willing to focus on readings on the health of the economy before making decisions.

"I think we've stabilized a bit since the Fed has lowered the discount rate," said Nicholas Raich, director of equity research at National City Private Client Group in Cleveland, referring to the Fed's decision a week ago to cut the interest it charges to lend directly to banks. "That has calmed the market and eased some fears because we have a Fed that is willing to step in and help out."

After weeks of volatility in which triple-digit drops in the Dow became the norm, stocks showed more modest moves this week. Investors tried to gain perspective on the troubles in the subprime mortgage market, which serves borrowers with weak credit, and the credit markets as a whole. In addition, moves by some investment banks to invest in subprime lenders and to borrow money from the Fed advanced a sense that the credit market troubles could be contained. A bit of merger news -- often a catalyst for sending stocks higher -- helped embolden some investors.

The Dow rose 142.99, or 1.08 percent, Friday, closing at 13,378.87.

Broader stock indicators also advanced sharply. The Standard & Poor's 500 index rose 16.87, or 1.15 percent, to 1,479.37. The Nasdaq composite index rose 34.99, or 1.38 percent, to 2,576.69.

For the week, the Dow rose 2.29 percent, its biggest point gain since the week ended April 20. The blue chips now sit about 622 points, or 4.7 percent, below their July 19 record close.

The S&P 500 and the Nasdaq saw their biggest weekly point gains since the weeks ended March 23. The S&P rose 2.31 percent, and the Nasdaq added 2.86 percent.

Bonds had a big week. Investors initially nervous about seemingly any form of risk fled some commercial paper, the bonds that companies sell to get quick cash, and shoehorned into safer short-term Treasurys. As the week continued, they gradually ventured back into longer-duration securities and stocks.

Bonds rose Friday, with the yield on the benchmark 10-year Treasury note falling to 4.62 percent from 4.63 percent late Thursday. Bond prices move opposite their yields. The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude rose $1.26 to $71.09 per barrel on the New York Mercantile Exchange, helping energy stocks and making Exxon Mobil Corp. one of the biggest gainers among the 30 stocks in the Dow industrials. Exxon rose $1.94, or 2.3 percent, to $85.69. Crude prices had fallen this week after it appeared there was no major damage to oil rigs as Hurricane Dean pushed through Mexico.

In economic news, the Commerce Department said new home sales rose 2.8 percent in July, after falling 4 percent in June. The increase in July lifted sales to a seasonally adjusted annual rate of 870,000 units. A second report showed that orders for durable goods -- those expected to last at least three years -- jumped 5.9 percent in July, the biggest increase in 10 months.

The housing report appeared to ease concerns that the U.S. economy might tip into recession because of a skidding housing market and tightening access to credit.

However, the upbeat reports could still disappoint investors who had been hoping weak readings would goad the Fed into cutting its benchmark fed funds rate. The stock market tumult in recent weeks and jitters in the credit market had boosted expectations among some investors that the central bank would have to intervene with a cut in the fed funds rate at or even before its Sept. 18 meeting.

The central bankers appeared determined to deploy a measured response and not necessarily give in to a Street looking for a return of easy access to cash.

"It's really day-by-day with all this news," said Raich, referring to economic data and concerns about faltering mortgages and upheaval in the credit markets. He said the latest economic readings boost a sense that the Fed isn't likely to cut rates.

"Obviously the market is adjusting to that probably not occurring. There were fears just a few weeks ago that the U.S. housing woes were going to impact the global environment."

The Chicago Board Options Exchange's volatility index, known as the VIX, and often referred to as the "fear index," has fallen for six sessions, signaling investors are regaining some confidence.

Whether the recent relative calm of the markets holds will likely depend in part on whether economic data due next week, including minutes from the Fed's next meeting and an early read on second-quarter gross domestic product, support a notion that the economy continues to push ahead despite Wall Street's recent gyrations.

In corporate news, retailer Gap Inc. late Thursday posted a 19 percent rise in quarterly earnings and announced plans for a $1.5 billion share repurchase. Gap rose $1.11, or 6.4 percent, to $18.51. Meanwhile, Marvell Technology Group Ltd. fell $2.10, or 11.8 percent, to $15.75 after the integrated circuit maker swung to a second-quarter loss amid steep charges.

Advancing issues outnumbered decliners by more than 3 to 1 on the New York Stock Exchange, where volume came to a light 1.18 billion shares compared with 1.38 billion shares traded Thursday. Lighter volume, a common occurrence in August when investors depart for vacation, generally is beneficial for stocks as buyers are often more likely to make an appearance than sellers.

The Russell 2000 index of smaller companies rose 10.68, or 1.35 percent, to 798.93.

Overseas, Britain's FTSE 100 rose 0.37 percent, Germany's DAX index slipped 0.06 percent, and France's CAC-40 rose 0.83 percent. In Asia, Japan's Nikkei stock average closed down 0.41 percent. Hong Kong's Hang Seng Index fell 0.20 percent. Stocks finished lower in Asia in part because

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 57 points on Monday August 27:

Sym Last....... ........Change..........
Dow	13,322.13	Down 56.74 (0.42%)
Nasdaq	2,561.25	Down 15.44 (0.60%)
S&P 500	1,466.79	Down 12.58 (0.85%)
10-Yr Bond	4.5960% 	Down 0.0370
*NYSE Volume	2,498,825,000 http://www.nyse.com/marketinfo/mktsummary/brokervolume.html
* Total Shares Traded is expressed in twice total volume (TTV) where both the buy and sell shares are counted for each trade.

Nasdaq Volume	1,363,504,000  	
http://www.nasdaq.com/

Volume reported by Yahoo Finance today appears to be incorrect and too high
Yahoo reported http://finance.yahoo.com/
NYSE Volume	444,787,808,000
Nasdaq Volume	711,492,763,648,000

In Asian trading, Japan's Nikkei stock average rose 0.32 percent, while China's Shanghai Composite Index, which hit record closes every day last week, gained 0.8 percent to another all-time high. 

In Europe, Germany's DAX index fell 0.28 percent and France's CAC-40 rose 0.38 percent. Markets in Britain were closed for a bank holiday.

http://biz.yahoo.com/ap/070827/wall_street.html?.v=38
*Stocks End Lower on Drop in Home Sales*
Monday August 27, 5:45 pm ET
By Tim Paradis, AP Business Writer
*Dow, Nasdaq Finish Lower After Sales of Existing Homes Fall in July for Fifth Straight Month*

NEW YORK (AP) -- Wall Street pulled back Monday, losing momentum from last week's gains after news that sales of existing homes slipped in July for a fifth straight month stirred concerns about the strength of the economy.

Sales of existing homes slowed to their most sluggish pace in nearly five years, while home prices fell for a record 12th straight month. The National Association of Realtors reported that existing home sales slipped by 0.2 percent in July to a seasonally adjusted annual rate of 5.75 million units. Inventories rose 5.1 percent to a record 4.59 million units.

The stock market's pullback perhaps wasn't unexpected given last week's rally and that Wall Street is still trying to sort out concerns about failing mortgages and tighter access to credit for both individuals and corporations.

A fresh round of buyout news might have acted to limit the stock market's losses Monday, which were small compared with the triple-digit plunges the Dow Jones industrials suffered in early August.

"I think there is still a little bit of nervousness about the credit market but that seems to be abating slowly," said Brian Gendreau, an investment strategist for ING Investment Management. "We had a very strong week last week and I wouldn't attribute this downmarket to any return to panic," he said, referring to concerns about bad loans and a drying up of liquidity that upset markets in recent weeks. "I think it's just a normal down day."

The Dow fell 56.74, or 0.42 percent, to 13,322.13.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 12.58, or 0.85 percent, to 1,466.79, and the Nasdaq composite index fell 15.44, or 0.60 percent, to 2,561.25.

Bond prices rose, with the yield on the benchmark 10-year Treasury note falling to 4.57 percent from 4.62 percent late Friday. Bond prices move opposite their yields.

Last week was a strong one for the markets following weeks of volatility. The Dow finished up 2.29 percent for the week, the S&P 500 advanced 2.31 percent, and the Nasdaq jumped 2.86 percent.

Gendreau contends investors last week gained a sense that the subprime and credit market problems weren't necessarily going to sink the economy.

That realization, however, makes the likelihood of an interest rate cut at the Federal Reserve's next meeting less certain than it might have appeared two weeks ago, he said. Gendreau noted the Fed has "gone out of its way" to add liquidity, doing so again Monday with a $9.5 billion short-term injection into the banking system.

"The big question is whether the market will accept that as an adequate Fed response. What if the market doesn't get a rate cut? I think that won't be the end of the world."

Investors faced such questions Monday amid fresh signals that there still seems to be an appetite for corporate dealmaking. U.S. Steel Corp. said it would buy Canada's Stelco Inc. for about $1.1 billion; Swiss electrical engineer ABB Ltd. said it will sell its oil and gas production plant to Chicago Bridge & Iron NV for $950 million; and Taiwanese computer vendor Acer Inc. said it will acquire U.S. computer maker Gateway Inc. for $710 million.

But it's possible the huge buyout sums seen earlier in the year, which drove the Dow to record highs last month, might slip as debt becomes more difficult to take on. The Home Depot Inc. has tentatively agreed to sell its wholesale distribution business to private equity firms for $8.5 billion, a person with direct knowledge of the situation said Sunday, which is $1.8 billion less than originally planned. The deal includes Home Depot guaranteeing $1 billion of the debt the buyers will take on to complete the transaction.

Home Depot shares rose 57 cents to $35.25 on the tentative deal.

Gateway surged 61 cents, or 50 percent, to $1.82 after news it was being acquired by Acer.

News of tie-ups among big companies seemed to offer little help to small capitalization stocks. The Russell 2000 index of smaller companies fell 9.48, or 1.19 percent, to 789.45.

Declining issues outnumbered advancers by more than 2 to 1 on the New York Stock Exchange, where consolidated volume came to a light 2.35 billion shares compared with 2.56 billion shares traded Friday.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude rose 88 cents to settle at $71.97 per barrel on the New York Mercantile Exchange.

In Asian trading, Japan's Nikkei stock average rose 0.32 percent, while China's Shanghai Composite Index, which hit record closes every day last week, gained 0.8 percent to another all-time high. In Europe, Germany's DAX index fell 0.28 percent and France's CAC-40 rose 0.38 percent. Markets in Britain were closed for a bank holiday.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE DOW closed LOWER by 280 points on Tuesday August 28:

Sym Last....... ........Change..........
Dow	13,041.85	Down 280.28 (2.10%)
Nasdaq	2,500.64	Down 60.61 (2.37%)
S&P 500	1,432.36	Down 34.43 (2.35%)
10-Yr Bond	4.5300% 	Down 0.0660
NYSE Volume	3,078,093,000
Nasdaq Volume	1,679,220,000

*Overseas*
Japan's Nikkei stock average fell 0.09 percent, while China's Shanghai Composite Index gained 0.91 percent to another record. 

In afternoon European trading, Britain's FTSE 100 fell 1.90 percent, Germany's DAX index fell 0.74 percent, and France's CAC-40 fell 2.08 percent.

*Fed Minutes Send Dow, Nasdaq Freefalling*
http://biz.yahoo.com/ap/070828/wall_street.html?.v=63
uesday August 28, 5:32 pm ET
By Joe Bel Bruno, AP Business Writer
Dow, Nasdaq Finish Lower As Investors Grow More Uneasy About Economy, Fed Minutes

NEW YORK (AP) -- Volatility returned to Wall Street Tuesday, sending stocks plunging as investors grew more uneasy about the economy and whether the Federal Reserve will take the steps needed to prevent credit market problems from spreading further. The Dow Jones industrials fell 280 points.

The stock market found little to assuage concerns in minutes from the Fed's last meeting, released during afternoon trading. The major indexes' losses steepened after investors parsed the minutes for signs of a possible cut in interest rates.

There had been some hope on the Street that Fed policymakers might have sent a stronger signal they were more willing to cut interest rates to help calm turbulent market conditions. But in the minutes from the Federal Open Market Committee's Aug. 7 meeting, while the central bank noted the turmoil in the markets and said, "to the extent such a development could have an adverse effect on growth prospects, might require a policy response," it didn't discuss a cut in the benchmark federal funds rate that Wall Street has wanted.

The meeting predated a number of actions taken by the central bank to try to alleviate market volatility, including the Aug. 17 lowering of the discount rate, the interest the Fed charges banks to borrow money. Wall Street, despite a calmer week after that step, seems to be growing more dissatisfied because the Fed has not yet lowered the funds rate -- and with a return to the intense volatility seen earlier this month may be trying to force the Fed to act.

"Investors are getting whipped side-to-side because their expectations, which are changing almost on a daily basis, aren't being met," said Chris Johnson, chief investment strategist at Johnson Research Group. "We've gone from the roof is on fire to the Fed is riding in on a white horse, and what we're seeing now is a reality check."

Stocks were down the entire session on further worries about the economy. The Conference Board's report that consumer confidence sagged in August amid volatile financial markets and ongoing housing problems added to the downbeat mood on the Street. Keeping alive credit worries, a Standard & Poor's housing index showed that U.S. home prices in the second quarter posted the sharpest decline since 1987.

The Dow fell 280.28, or 2.10 percent, to 13,041.85, its biggest drop since Aug. 9. Stocks rose in fairly subdued trading last week, but began to pullback on Monday on sluggish economic data.[/U]

Broader stock indicators were also lower. The Standard & Poor's 500 index was down 34.43, or 2.35 percent, at 1,432.36, and the Nasdaq composite index shed 60.61, or 2.37 percent, to 2,500.64.

Fixed-income investors were encouraged by the consumer confidence report, which could indicate the Fed will be more likely to lower rates at its September meeting. Bond prices rose, with the yield on the benchmark 10-year Treasury note falling to 4.52 percent from 4.57 percent on Monday.

Light, sweet crude fell 24 cents to $71.73 a barrel on the New York Mercantile Exchange. Oil prices fell last week on credit worries and as Hurricane Dean missed oil facilities in the Gulf of Mexico. They have rebounded in recent days, though, due to refinery problems and strong gasoline demand.

The dollar was lower against other major currencies, while gold prices were slightly lower.

Analysts said there just wasn't much to encourage stock investors in a day with many traders on vacation and little in the way of corporate news. And, the lack of rate-cut support from the Fed minutes didn't change matters.

"This is backward looking right now, the main thing you have to take out of this is the Fed continues to be worried about inflation and economic growth," said Ryan Larson, senior trader with Voyageur Asset Management. "They have already assured they stand ready to do something. But, the market was looking for more of a nod or a mention toward the credit problems -- and I don't think they got it."

Further, investors might also be positioning themselves ahead of a speech by Federal Reserve Chairman Ben Bernanke on Friday in Jackson Hole, Wyo. Investors are not only looking for further details about a possible rate cut, but any impression Bernanke has about his recent campaign of injecting liquidity into the markets.

The New York Fed -- which carries out the central bank's market operation -- on Monday announced a 10-day repurchase agreement worth $9.5 billion to extend through the Labor Day holiday. Then, on Tuesday, the Fed announced another "repo" worth $2 billion.

"It's kind of a good sign," said Stephen Stanley, chief economist at RBS Greenwich Capital, referring to the smaller amount introduced Tuesday. "Before, the Fed was providing a lot of liquidity and it wasn't getting disseminated out to the places it was needed."

Financial services stocks were among the hardest hit during the session as investors reacted to not only economic reports that could affect the group, but a downgrade of several major players. Merrill Lynch analyst Guy Moszkowski cut ratings on Citigroup Inc., Lehman Brothers Holdings Inc., and Bear Stearns Cos. due to concerns about earnings.

Lehman Brothers Holdings Inc., the fourth-largest investment house, fell $3.47, or 6 percent, to $54.28. Bear Stearns, the fifth-largest investment bank, fell $3.78, or 3.4 percent, to $108.42. Citigroup Inc. fell $1.65, or 3.5 percent, to $46.14.

Meanwhile, the S&P housing report pushed shares of homebuilders lower. When home prices fall, owners have a hard time refinancing, which can lead to more defaults and delinquencies.

Hovnanian Enterprises Inc. fell 80 cents, or 7.1 percent, to $10.46. Luxury homebuilder Toll Brothers Inc. dropped 94 cents, or 4.3 percent, to $21.06. D.R. Horton Inc. declined 46 cents, or 3 percent, to $14.75.

Pharmacy benefits management company Medco Health Solutions Inc. said it will pay $1.5 billion in cash for diabetes treatment supplier PolyMedica Corp. Shares of Medco fell $1 to $85.11, while PolyMedica surged $6.40, or 14 percent, to $51.69.

The Russell 2000 index of smaller companies was down 21.6, or 2.74 percent, at 767.83.

Declining issues beat out advancers by a 3 to 1 basis on the New York Stock Exchange, where volume came to 2.96 billion shares compared to 2.35 billion on Monday.

Overseas, Japan's Nikkei stock average fell 0.09 percent, while China's Shanghai Composite Index gained 0.91 percent to another record. In afternoon European trading, Britain's FTSE 100 fell 1.90 percent, Germany's DAX index fell 0.74 percent, and France's CAC-40 fell 2.08 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com/
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by 247 points on Wednesday August 29:

Sym Last....... ........Change..........
Dow	13,289.29	Up 247.44 (1.90%)
Nasdaq	2,563.16	Up 62.52 (2.50%)
S&P 500	1,463.76	Up 31.40 (2.19%)
10-Yr Bond	4.55% 	Up 0.02
NYSE Volume	2,824,073,000
Nasdaq Volume	1,696,220,000

Wall Street's plunge Tuesday triggered selling in Asia. Japan's Nikkei stock average fell 1.69 percent, Hong Kong's key index fell 1.5 percent, and China's Shanghai Composite Index fell 1.64 percent. 

European markets, however, advanced. Britain's FTSE 100 rose 0.49 percent, Germany's DAX index rose 0.12 percent, and France's CAC-40 rose 0.84 percent.

*Stocks Skyrocket on Rate Cut Optimism*
http://biz.yahoo.com/ap/070829/wall_street.html?.v=40
*Stocks Rebound on Bargain Hunting*
Wednesday August 29, 5:40 pm ET
By Madlen Read, AP Business Writer
*Stocks Surge As Wall Street Goes Hunting for Bargains, Anticipates Rate Cut*

NEW YORK (AP) -- Stocks rebounded sharply Wednesday as investors, growing more optimistic about chances for an interest rate cut, sought bargains after the previous session's huge tumble. The Dow Jones industrials gained almost 250 points.

Many investors believe the Federal Reserve will cut interest rates at its next meeting on Sept. 18 or even sooner and were preparing for Fed Chairman Ben Bernanke to hint at such a move on Friday at a speech in Jackson Hole, Wyo. The possibility of a rate cut has given Wall Street some hope that the stock market will recover from its summer volatility, and that right now, it's a good strategy to buy while the buying is cheap.

News that Bernanke said in a letter to Sen. Charles Schumer, D-N.Y., that Fed policymakers are "prepared to act as needed" if the market's turbulence hurts the economy helped pad the market's gain.

The Fed, although it has not yet indicated that it will indeed lower the benchmark fed funds rate, has been adding cash to the banking system in an attempt to keep the credit markets liquid. The Federal Reserve Bank of New York said Wednesday it would inject $5.25 billion through a one-day repurchase agreement, where it buys that amount in collateral from dealers who then deposit the money into commercial banks.

Wall Street was also enthusiastic about signs of corporate muscle. A jump in oil prices fed a rally in energy company stocks, and positive news from technology companies including Seagate Technology gave that sector a boost. Meanwhile, Altria Group Inc. spun off its Philip Morris International cigarette business.

Stock investors kept an eye on the credit markets for signs of loosening. Though the safest assets, Treasurys, are not seeing the same frantic buying they saw a couple weeks ago, assets with a bit more risk, like commercial paper, are having some trouble attracting buyers.

"Everyone's waiting for the dust to settle there," said Steven Goldman, chief market strategist at Weeden & Co. "We're on a little bit better footing, but we're in a healing process that takes time." He added that he regards a Fed rate cut as "mandatory."

The Dow rose 247.44, or 1.90 percent, to 13,293.44, near its highs of the session. The blue chip index tumbled 280 points on Tuesday amid pessimism about the Fed's intentions.

Broader stock indicators also jumped. The Standard & Poor's 500 index added 31.40, or 2.19 percent, to 1,463.76, while the Nasdaq composite index gained 62.52, or 2.50 percent, to 2,563.16.

Bonds fell back as investors moved back into stocks. The yield on the benchmark 10-year Treasury note rose to 4.57 percent from 4.52 percent late Tuesday.

Light, sweet crude soared $1.78 to $73.51 a barrel on the New York Mercantile Exchange after the U.S. Energy Department reported larger-than-expected declines in gasoline and oil inventories.

One reason for Wednesday's triple-digit rebound -- with some 100 points gained in the final hour of trading alone, is that volume again is light -- which tends to skew the market's movements. Advancing issues led decliners by about 5 to 1 on the New York Stock Exchange, where consolidated volume came to 2.77 billion compared to 2.35 billion on Tuesday.

Volatility has returned to the market this week after last week's relative calm. Investors on Tuesday sent shares sharply lower on further concerns about the strength of the economy and whether the Fed will act in an effort to prevent credit troubles from spreading further.

Michael Sheldon, chief market strategist at Spencer Clarke, said he believes investors are positioning themselves ahead of Bernanke's speech. He believes the rebound during the session shows that perhaps investors are becoming more confident the Fed will lower interest rates, and also that financial institutions exposure to distressed mortgages and loans.

"At least for a day, people feel like there is a light at the end of the tunnel," he said. "The problems facing the big brokerage firms, while not great, are being seen as at least manageable."

Bear Stearns Cos. fell $1.32 to $107.10, Lehman Brothers Holdings Inc. rose 15 cents to $54.43, and Goldman Sachs Group Inc. was up $2.77 at $173.72.

The technology sector was strong, helping to boost the Nasdaq, after several analysts raised their price targets on Seagate Technology in response to its improved fiscal first-quarter outlook. Seagate rose $1.04, or 4.2 percent, to $25.50.

Nokia Corp. was another standout in tech, after it unveiled new Internet services and gadgets for downloading music and playing games on mobile handsets. Nokia rose $1.17, or 7.3 percent, to $32.70.

The retail sector also lured buyers, after down-market Big Lots Inc. and up-market Williams-Sonoma Inc. raised their outlooks -- a good sign that companies don't foresee a significant decline in consumer spending.

Williams-Sonoma rose $3.13, or 10.6 percent to $32.70, while Big Lots rose $2.61, or 9.9 percent, to $28.91.

The housing market outlook remains weak, though. Mortgage application volume, refinance volume and purchase volume all fell about 4 percent during the week ended Aug. 24 compared to the prior week, according to the Mortgage Bankers Association's weekly application survey.

The Russell 2000 index of smaller companies rose 19.49, or 2.54 percent, to 787.32.

The dollar fell against other major currencies except the yen. Gold prices rose.

Wall Street's plunge Tuesday triggered selling in Asia. Japan's Nikkei stock average fell 1.69 percent, Hong Kong's key index fell 1.5 percent, and China's Shanghai Composite Index fell 1.64 percent. European markets, however, advanced. Britain's FTSE 100 rose 0.49 percent, Germany's DAX index rose 0.12 percent, and France's CAC-40 rose 0.84 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com/
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by 50 points on Thursday August 30:

Sym Last....... ........Change..........
Dow	13,238.73	Down 50.56 (0.38%)
Nasdaq	2,565.30	Up 2.14 (0.08%)
S&P 500	1,457.64	Down 6.12 (0.42%)
10-Yr Bond	4.5020% 	Down 0.0510
NYSE Volume	2,582,956,000
Nasdaq Volume	1,750,672,000

Japan's Nikkei stock average rose 0.88 percent, Hong Kong's key index rose 2.02 percent, and China's Shanghai Composite Index rose 1.14 percent.

In Europe, Britain's FTSE 100 finished up 1.30 percent, Germany's DAX index rose 1.09 percent, and France's CAC-40 rose 1.31 percent.

http://biz.yahoo.com/ap/070830/wall_street.html?.v=45
*Stocks Fluctuate Amid Economic Worries*
Thursday August 30, 5:38 pm ET
By Madlen Read, AP Business Writer
*Stocks Finish Mixed Amid Ongoing Worries About Economy, Credit Market*

NEW YORK (AP) -- Stocks finished a back-and-forth session mixed Thursday as investors grappled with weaker-than-expected economic data and weighed the chances of the Federal Reserve lowering interest rates.

Fed Chairman Ben Bernanke is expected to speak Friday at the central bank's annual conference in Jackson Hole, Wyo., and said in a letter Wednesday to Sen. Charles Schumer, D-N.Y., that Fed policymakers are "prepared to act as needed" if the market's turmoil damages the economy. The Fed's next meeting is Sept. 18, but some on Wall Street expect the central bank could act sooner.

The Commerce Department said second-quarter gross domestic product grew 4.0 percent -- its fastest pace in more than a year, and well above the 0.6 percent increase in the first quarter. But the broadest measure of economic health came in slightly lower than many anticipated, and the report also suggested that business investment, not consumer spending, was the main driver of growth.

In a sign that Americans' spending power may keep declining, the Labor Department said U.S. jobless claims rose last week to the highest level since April. Employment has been one of the stronger pillars of the economy recently, enabling robust consumer spending.

Considering how sluggish consumer spending has been this quarter, it's likely to post its worst back-to-back quarterly performance since early 2000, said Michael Strauss, chief economist at Commonfund. And given all of the mortgage market troubles, "there is a growing challenge for the economy to continue to grow at a 2.5 percent pace in second half of the year," he said.

To some investors, that's not bad news, because weaker-than-anticipated economic readings bolster the argument for a rate cut, which could loosen up the credit markets.

The Dow fell 50.56, or 0.38 percent, to 13,238.73 after dropping about 100 points early in the session.

Broader stock indicators finished mixed. The Standard & Poor's 500 index fell 6.12, or 0.42 percent, to 1,457.64, while the Nasdaq rose 2.14, or 0.08 percent, to 2,565.30.

In other economic news, the Office of Federal Housing Enterprise Oversight said U.S. home prices rose just 0.1 percent in the second quarter compared to the first quarter, the lowest quarterly increase since 1994.

A worse-than-expected quarterly earnings report from Freddie Mac due to troubles in mortgage lending fed some selling early in the day, as did signs that companies are still finding that demand is low for commercial paper.

In addition, Lehman Brothers lowered its ratings on investment banks, stirring concerns about how well their profits will hold in a market where its tougher and more expensive to get deals done. Goldman Sachs Group Inc., Merrill Lynch & Co. and Morgan Stanley lost ground. Goldman fell $2.34 to $171.38, Merrill Lynch slid 93 cents to $72.18 and Morgan Stanley fell $1.05 to $60.16.

In one possible bright spot, some investors regard the outlook for the technology sector as decent, giving the technology-dominated Nasdaq composite index an especially large boost.

Sigma Designs late Wednesday posted a strong second quarter profit which, excluding special items, beat Wall Street estimates. Sigma Designs rose $4.07, or 10.5 percent, to $42.70. Other tech stocks -- including Apple Inc., Cisco Systems Inc., and Motorola Inc. -- also saw solid gains. Apple rose $2.17 to $136.25, Cisco advanced 43 cents to $31.43 and Motorola tacked on 28 cents, finishing at $16.75.

Bond prices rose. The yield on the 10-year Treasury note, which moves inversely to its price, fell to 4.51 percent from 4.56 percent late Wednesday.

Bonds issued by companies are seeing much less demand than bonds issued by the government.

Asset-backed commercial paper outstanding decreased for the third straight week in the week ended Wednesday by 5.6 percent, the Federal Reserve said. That means that over all, 5.6 percent of asset-backed commercial paper was unable to be rolled over. Commercial paper comprises bonds issued by companies as a way for them to get cash quickly.

According to iMoneyNet Inc., in the week ended Tuesday, money market mutual fund investors drew cash out of prime funds -- some of which invest in commercial paper -- and instead padded their government fund assets.

The Fed injected a total of $10 billion into the banking system Thursday through repurchase agreements, in an ongoing effort to keep the markets liquid. A big reason behind the recent credit tightening has been defaults and delinquencies in subprime loans -- those given to borrowers with weak credit. The spike has led to losses for lenders and those who invested in mortgage-backed assets.

Fed funds futures have been pricing in a 100 percent chance of a rate cut for a while now, but Thursday they boosted the chance of a full-point cut by the end of the year to 100 percent.

Government-sponsored Freddie Mac, the nation's second-largest buyer and guarantor of home mortgages, said its second-quarter profit dropped 45 percent, after it recorded larger provisions on its books for bad loans. Freddie Mac fell $3.18, or 5 percent, to $60.07.

The Russell 2000 index of smaller companies fell 4.21, or 0.53 percent, to 783.11.

The dollar was higher against most other major currencies except the yen. Gold prices fell.

Light, sweet crude fell 15 cents to $73.36 per barrel on the New York Mercantile Exchange.

Trading remained volatile Thursday as volume remained low and investors continued to position themselves ahead of the long Labor Day weekend.

Declining issues outnumbered advancers by about 5 to 3 on the New York Stock Exchange, where consolidated volume came to a light 2.59 billion shares compared with 2.77 billion traded Wednesday.

Japan's Nikkei stock average rose 0.88 percent, Hong Kong's key index rose 2.02 percent, and China's Shanghai Composite Index rose 1.14 percent.

In Europe, Britain's FTSE 100 finished up 1.30 percent, Germany's DAX index rose 1.09 percent, and France's CAC-40 rose 1.31 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com/
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by 119 points on Friday August 31:

Sym Last....... ........Change..........
Dow 13,357.74 Up 119.01 (0.90%)
Nasdaq 2,596.36  Up 31.06 (1.21%) 
S&P 500 1,473.99  Up16.35 (1.12%) 
30-Yr Bond 4.8310%   Up 0.0060% 
NYSE Volume 2,750,512,000 
Nasdaq Volume 1,596,438,000 

Japan's Nikkei stock average surged 2.57 percent, Hong Kong's key index jumped 2.13 percent, and China's Shanghai Composite Index rose 0.99 percent. In Europe, Britain's FTSE 100 rose 1.47 percent, Germany's DAX index rose 1.57 percent, and France's CAC-40 rose 1.25 percent.

http://biz.yahoo.com/ap/070831/wall_street.html?.v=60
*Stocks End Up on Bush, Bernanke Speeches*
Friday August 31, 9:17 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks End Higher After President Bush, Ben Bernanke Address Woes in Mortgage, Credit Markets *

NEW YORK (AP) -- Wall Street closed out another erratic week with a big gain Friday after investors took comments from President Bush and Federal Reserve Chairman Ben Bernanke as reassuring signs Wall Street won't be left to deal with problems in the mortgage and credit markets on its own.

Investors balked early in Friday's session when comments from Bernanke didn't indicate a cut in the benchmark federal funds rate was imminent. However, they moved past some of their initial disappointment and appeared to concentrate on comments that the Fed would step in if needed.

Bernanke, speaking at the Fed's annual conference in Jackson Hole, Wyo., said the central bank will "act as needed" to prevent the credit crisis from hurting the national economy.

The major indexes fluctuated but held their gains after President Bush spoke about details of a plan to help borrowers facing trouble paying their mortgages.

"You've got all the speeches working for the market here," said Michael Church, portfolio manager at Church Capital Management in Philadelphia. "What we've seen in the last few weeks is that Ben Bernanke and the Federal Reserve are paying attention to what's going on. They will help correct the credit markets. For now, we're in a trading range and we have to sort through this mess."

The Dow rose 119.01, or 0.90 percent, to 13,357.74. The Dow slipped 0.16 percent for the week; for the year the blue chip index is up 7.2 percent despite the volatility of the past month.

Broader stock indicators also rose. The Standard & Poor's 500 index rose 16.35, or 1.12 percent, to 1,473.99. For the week, the S&P fell 0.36 percent, leaving it with a 3.9 percent gain for the year.

The Nasdaq composite index rose 31.06, or 1.21 percent, to 2,596.36. Bucking the trend of other major indexes, it gained 0.76 percent for the week and is up 7.5 percent for the year.

Bond prices fell. The yield on the 10-year Treasury note, which moves inversely to its price, rose to 4.53 percent from 4.51 percent late Thursday. The U.S. bond market closed early ahead of the holiday weekend, and will be closed Monday along with the stock markets.

Since the stock market started tumbling in late July on fears that problems in mortgage and corporate lending would lead to a credit freeze and hurt the economy, the Fed has injected tens of billions of dollars into the banking system and lowered its discount rate -- the charge on its loans to commercial banks. But the Fed hasn't yet said it will lower the fed funds rate, and Wall Street's uncertainty over what the central bank will do next has kept the markets volatile. The Fed's next meeting is Sept. 18 and some investors had expected the central bank might hint at or even go through with a rate cut before then.

Bush's comments that the nation's economy can "weather any turbulence" in what he termed a period of transition for the financial markets appeared to help reassure investors. He outlined proposals to assist borrowers in trouble from a pullback in the housing market and credit problems.

Economic news, as Bernanke indicated Friday, appeared less relevant than normal as investors remained focused on upheaval in the credit market and mortgage concerns.

The Commerce Department reported on personal income and spending and the core personal consumption expenditures deflator, one of the Fed's preferred gauges of inflation. Personal incomes and spending edged up by 0.5 percent and 0.3 percent, respectively, and year-over-year core PCE stayed at 1.9 percent -- within the Fed's comfort range.

The Commerce Department also said orders to factories jumped by 3.7 percent in July, topping a 3.3 percent increase that had been expected. The rise, which came after three months of modest gains, followed an 11 percent jump in demand for transportation goods, including the biggest increase in orders for cars in more than four years.

Also, the Chicago purchasing managers index rose to 53.8 in August from 53.4 in July; the index, which measures manufacturing in the Midwest, is seen as a precursor to the Institute for Supply Management index, to be released on Tuesday.

Church said the market was helped by Friday's economic figures as well as a stronger-than-expected reading on second-quarter gross domestic product released Thursday.

"The consumer has been in the crosshairs of the bears for a while now," he said, referring to concerns that a pullback in consumer spending will upend economic growth. "I think this helps clarify a lot of the situation. The news from the consumer is good."

But despite relatively upbeat economic data, it is becoming increasingly clear that the Fed is going to have to lower interest rates to prevent the credit market turmoil from dragging down the economy, said Tom Higgins, chief economist at Payden & Rygel Investment Management in Los Angeles.

"The impact on economic growth in the coming quarter is going to be what we have to watch in order to gauge whether this is going to be a full-on easing cycle at this point and what impact there is going to be on the financial markets.

"Volatility is going to be high in the coming weeks because the Fed's not sure what is going to happen due to these financial market interruptions and investors can't be sure either," Higgins said.

Wall Street might harbor some concern about the start of September, typically a difficult month for the stock markets as investors return from vacations and re-asses their holdings. The S&P 500 typically loses 0.7 percent in during the month and 0.6 percent in Septembers that precede an election year, according to the Stock Trader's Almanac.

The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude settled up 68 cents at $74.04 per barrel on the New York Mercantile Exchange.

Advancing issues outnumbered decliners by about 7 to 1 on the New York Stock Exchange, where consolidated volume came to a light 2.69 billion shares compared with 2.59 billion shares traded Thursday. Trading in late August often is light as investors take end-of-summer vacations.

The Russell 2000 index of smaller companies rose 9.75, or 1.25 percent, to 792.86.

In market action abroad, Japan's Nikkei stock average surged 2.57 percent, Hong Kong's key index jumped 2.13 percent, and China's Shanghai Composite Index rose 0.99 percent. In Europe, Britain's FTSE 100 rose 1.47 percent, Germany's DAX index rose 1.57 percent, and France's CAC-40 rose 1.25 percent.

The Dow Jones industrial average ended the week down 21.13, or 0.16 percent, at 13,357.74. The Standard & Poor's 500 index finished down 5.38, or 0.36 percent, at 1,473.99. The Nasdaq composite index ended up 19.67, or 0.76 percent, at 2,596.36.

The Russell 2000 index finished the week down 6.07, or 0.76 percent, at 792.86.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 14,847.70, down 48.51, or 0.33 percent, for the week. A year ago, the index was at 13,062.54.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Monday September 3, the U.S. financial markets were closed due to the Labor Day holiday.

http://biz.yahoo.com/ap/070903/world_markets.html?.v=5
*European, Asian Markets Finished Mixed in Light Trading; U.S. Markets Closed for Labor Day*

LONDON (AP) -- European and Asian stock markets finished narrowly mixed Monday in mostly light trading, while the U.S. financial markets were closed for the Labor Day holiday.

"It's a quiet day today largely because of the U.S. holiday." said Philip Shaw, a strategist at Investec Securities.

The U.S. holiday dried up liquidity, and brokers said they expect trade to remain muted for the early part of the week.

"The reality is, there's only one market that moves the others along," said Stuart Eaves, a Wellington-based broker at Waddell Johnston McCarthy.

*Chinese stocks touched a record while Japanese stocks declined.*

In Europe, the U.K. FTSE 100 index inched up 0.19 percent while the German DAX 30 index advanced 0.14 percent. But the French CAC-40 share index ended 0.2 percent lower.

Both France's Gaz de France and utility Suez SA turned back from early gains to trade lower after announcing new terms for their long-awaited deal to combine the companies.

Gaz de France shares slid 2.7 percent, while Suez shares lost 3.3 percent.

The pan-European Dow Jones Stoxx 600 index ended 0.3 percent higher at 377.01.

In Asia, Japan's benchmark Nikkei 225 Index stock index closed slightly lower Monday, down 0.27 percent.

The market was dragged lower by the resignation of the minister of agriculture and by government data showing capital expenditure by Japanese companies fell in the spring quarter for the first time in four years.

In China, the Shanghai Composite Index gained 2 percent to close above 5,300 for the first time, as airlines surged on news of a deal involving China Eastern Airlines, Singapore Airlines and Temasek Holdings.

Elsewhere in Asia, Hong Kong shares dipped 0.3 percent, weighed down by profit-taking and expectations of a delay in a program allowing Chinese investors to buy Hong Kong stocks.


----------



## bigdog

Source: http://finance.yahoo.com/
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by 91 points on Tuesday September 4:

Sym Last....... ........Change..........
Dow	13,448.86	Up 91.12 (0.68%)
Nasdaq	2,630.24	Up 33.88 (1.30%)
S&P 500	1,489.42	Up 15.43 (1.05%)
10-Yr Bond	4.5580% 	Up 0.0210
NYSE Volume	2,766,595,000
Nasdaq Volume	1,914,252,000

*Overseas,
* Japan's Nikkei stock average fell 0.63 percent. Britain's FTSE 100 rose 0.98 percent, Germany's DAX index rose 0.96 percent, and France's CAC-40 rose 0.38 percent.

http://biz.yahoo.com/ap/070904/wall_street.html?.v=38
*Stocks Rise After Manufacturing Data*
Tuesday September 4, 5:35 pm ET
By Madlen Read, AP Business Writer
*Stocks Rise After Reports Show Mild Declines in Manufacturing Growth, Construction Spending*

NEW YORK (AP) -- Wall Street extended its rebound from the big summer slump Tuesday after dips in manufacturing growth and construction spending raised investors' hopes for an interest rate cut.

The market also got a boost as investors bought technology stocks viewed as bargains after being battered during last month's selloff. Tech and telecom are still seeing takeover activity despite credit concerns, and furthermore, demand for computers, cell phones and other such products appears strong.

Though Tuesday's economic data came in a bit slower than anticipated, the market built on the sharp gains it made Friday. Ahead of Labor Day weekend, Federal Reserve Chairman Ben Bernanke said the central bank stood ready to "act as needed" to prevent credit troubles from hurting the national economy -- which investors believed hinted at the Fed's willingness to lower rates.

When investors returned from the long weekend, the Institute for Supply Management said the manufacturing sector expanded more slowly in August than in July, and the Commerce Department said construction activity fell in July by 0.4 percent. Wall Street was pleased that the snapshots were neither too weak nor too strong -- suggesting the economy isn't falling apart, but that the Fed will be inclined to cut the benchmark federal funds rate when it meets Sept. 18, after more than a year of holding rates steady.

"We haven't had anything happen to change that outlook," said Arthur Hogan, chief market analyst at Jefferies & Co. "Everything still points to a Fed that could lower rates."

In recent weeks, more difficult access to credit has made it harder for consumers and businesses to borrow, raising fears that tighter access to money will hurt the economy.

The Dow Jones industrial average rose 91.12, or 0.68 percent, to 13,448.86. The blue-chip index is about 4 percent below its July 19 record close of 14,000.41, but about 4.7 percent above its summer closing low of 12,845.78 reached Aug. 16.

The biggest gainer among the 30 Dow companies was General Motors Corp., which rose $1.18, or 3.8 percent, to $31.92 after reporting a surprising increase in August sales.

Broader stock indicators also advanced. The Standard & Poor's 500 index added 15.43, or 1.05 percent, to 1,489.42, and the technology-dominated Nasdaq composite index surged 33.88, or 1.30 percent, to 2,630.24.

In keeping with its promise to aid the markets as needed, the Fed on Tuesday added a relatively moderate $5 billion to the banking system through a repurchase agreement.

Further bolstering the argument for a rate cut, U.S. Federal Reserve Bank directors, in minutes released Tuesday from three discount rate meetings from July 9 to Aug. 6, said a contracting U.S. housing market posed a risk to growth.

Bond prices slipped as stocks gained. The yield on the 10-year Treasury note, which moves inversely to its price, rose to 4.55 percent from 4.53 percent late Friday. The dollar was mixed against other major currencies, while gold prices rose.

Advancing issues outnumbered decliners by about 12 to 5 on the New York Stock Exchange, but trading was still relatively light. Consolidated volume came to 2.76 billion shares, up only modestly from Friday's 2.69 billion.

And though the stock market appeared stable Tuesday, Wall Street is entering one of its historically most difficult months as investors return from their vacations and reassess their holdings. Last September was good for the stock market, but on average, the S&P 500 loses 0.7 percent during the month and 0.6 percent in Septembers that precede an election year, according to the Stock Trader's Almanac.

Jitters about the credit markets are not as high as they were in August, but they haven't been placated completely.

"Everybody is holding their breath, looking for more evidence that subprime and all those woes are still out there," said Kim Caughey, equity research analyst, Fort Pitt Capital Group.

Helping to boost the Nasdaq, discount wireless phone service provider MetroPCS Communications Inc. offered to acquire rival Leap Wireless International Inc. for about $5.12 billion in stock. Leap Wireless soared $10.97, or 15.1 percent, to $83.47, and MetroPCS rose $1.36, or 5 percent, to $28.65.

Giving tech an additional lift, Yahoo Inc. was named a "top pick" by a Bear Stearns analyst, an analyst raise his price target on Intel Corp., and excitement grew over Apple Inc.'s iPhone. Yahoo rose $1.24, or 5.5 percent, to $23.97; Intel rose 43 cents to $26.18; and Apple rose $5.68, or 4.1 percent, to $144.16.

"Technology stocks are the cheapest they've looked in 10 years, on an earnings multiple basis," Hogan said, noting that the tech sector was particularly pummeled during this summer's stock plunge.

Stocks in the energy sector also surged as New York Mercantile Exchange crude futures rose $1.04 to $75.08 a barrel on the possibilities of the hurricane season intensifying and OPEC deciding not to raise production when it meets next week.

The Russell 2000 index of smaller companies rose 7.83, or 0.99 percent, to 800.69.

Overseas, Japan's Nikkei stock average fell 0.63 percent. Britain's FTSE 100 rose 0.98 percent, Germany's DAX index rose 0.96 percent, and France's CAC-40 rose 0.38 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com/
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by 143 points on Wednesday September 5:

Sym Last....... ........Change..........
Dow	13,305.47	Down 143.39 (1.07%)
Nasdaq	2,605.95	Down 24.29 (0.92%)
S&P 500	1,472.29	Down 17.13 (1.15%)
10-Yr Bond	4.4730% 	Down 0.0850
NYSE Volume	2,991,598,000
Nasdaq Volume	1,999,210,000

*Overseas*
Japan's Nikkei stock average fell 1.60 percent. Britain's FTSE 100 closed down 1.66 percent, while Germany's DAX index declined 1.73 percent, and France's CAC-40 tumbled 2.14 percent.

http://biz.yahoo.com/ap/070905/wall_street.html?.v=38
*Stocks Fall As Street Looks for Rate Cut*
Wednesday September 5, 5:37 pm ET
By Tim Paradis, AP Business Writer
*Stocks Decline After Beige Book Reading Doesn't Guarantee Rate Cut; Housing Data Stir Unease*

NEW YORK (AP) -- Stocks finished sharply lower Wednesday as a jittery Wall Street sold off on a report showing a large drop in pending home sales and read anecdotal data from the Federal Reserve's regional banks as offering little more assurance that an interest rate cut is likely. The Dow Jones industrial average dropped more than 140 points. 

Bond prices soared as investors again sought the safety of government debt, sending yields to multi-month lows. The yield on the 10-year Treasury note, which moves inversely to its price, fell to 4.47 percent, its weakest level since March 14, and down from 4.56 percent at Tuesday's close.

The National Association of Realtors said pending sales of existing homes fell in July to the lowest level in nearly six years. Though the report did support the argument for a rate cut, it also worried investors who are nervous about the housing market growing so weak that it drags the economy into recession.

The Fed's Beige Book, which describes economic conditions in regions around the country, said that while upheaval in the financial markets has made the housing slump worse, the overall economy hasn't been widely harmed. Wall Street appeared disappointed that the Beige Book's findings didn't deliver a sure-bet for a rate cut, which markets have been pining for.

"The markets are reacting to absolutely every bit of information which is coming along tick by tick," said Walter Gerasimowicz, chairman and chief executive of Meditron Asset Management in New York, downplaying the market's initial pullback after release of the Beige Book as an overreaction. "I'm happy to see that the underlying economy is still in fairly sound mode."

He noted that had the Beige Book shown a weakened economy investors might have been enthusiastic about the increased chance for a rate cut but grown more concerned about the prospect of a faltering economy.

The downcast mood on Wall Street Wednesday ran counter to a somewhat more upbeat mood of recent sessions. The Dow Jones industrial average rose in three of the last four sessions, jumping 91 points Tuesday, as investors sought stocks that have been turned into bargains by declines.

The Dow ended down 143.39, or 1.07 percent, at 13,305.47, after having fallen as much as 200 points in the session.

Broader stock indicators also lost ground. The Standard & Poor's 500 index fell 17.13, or 1.15 percent, to 1,472.29, and the Nasdaq composite index fell 24.29, or 0.92 percent, to 2,605.95.

The dollar was mixed against other major currencies, while gold prices slipped.

Investors' concerns about spreading fallout from market turmoil also intensified after the European Central Bank said it would consider steps to curb recent euro money market upheaval. The statement was a sign the ECB might not lift its benchmark interest rate when it meets Thursday; there had been speculation it would raise the rate a quarter percentage point to 4.25 percent.

In the U.S., the Fed has held rates steady for more than a year in a bid to reduce inflation that remains above its comfort level. Investors concerned about a stumbling housing market, rising mortgage defaults and tightening access to credit have been hoping the Fed will reduce its benchmark fed funds rate when it meets Sept. 18.

"It seems like every day you've got some news that subprime and some of the effects of the housing impact aren't quite so bad and the next day you've got something that says it is worse than we thought in another area. I just think it's a continuation of the choppiness and that worries that have been going on," said Kent Croft, chief investment officer at Croft Leominster Investment Management in Baltimore.

He said Wall Street could take months to sort out its concerns about issues such as bad subprime loans, which are made to borrowers with weak credit.

Gerasimowicz noted that the key three-month interbank lending rate, or LIBOR, rose Wednesday to 5.72 percent, its highest level since January 2001. He noted that a month ago the rate was 5.36 percent and that the increase illustrates that short-term rates are still under pressure. The rise is significant because many consumer loans are tied to this rate.

"The market remains very unpredictable and a lot of that has to do with the subprime debacle that we're facing," he said.

Still, Gerasimowicz remains optimistic, describing the recent market volatility as merely a "financial pothole" in a larger worldwide growth cycle.

In corporate news, Mattel Inc. announced a third major recall of Chinese-made toys in little more than a month because of excessive amounts of lead paint. The world's largest toy maker said the move affects about 800,000 toys. Mattel rose 1 cent $21.98.

Apple Inc. fell $7.40, or 5.1 percent, to $136.76 after investors were disappointed about newly announced versions of the company's iPod digital media players.

Costco Wholesale Corp., the warehouse retailer, fell $2.61, or 4.2 percent, to $59 after reporting its August same-store sales rose a weaker-than-expected 2 percent largely due to strong international sales. Same-store sales, or sales at stores open at least a year, are a widely followed indicator of retail health.

Most major retailers will be reporting their August sales on Thursday.

Declining issues outnumbered advancers by more than 3 to 1 on the New York Stock Exchange, where consolidated volume came to 2.93 billion shares, compared with 2.76 billion shares traded Tuesday.

The Russell 2000 index of smaller companies fell 10.23, or 1.28 percent, to 790.46.

Crude futures rose 65 cents to settle at $75.73 per barrel on the New York Mercantile Exchange.

Overseas, Japan's Nikkei stock average fell 1.60 percent. Britain's FTSE 100 closed down 1.66 percent, while Germany's DAX index declined 1.73 percent, and France's CAC-40 tumbled 2.14 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## imajica

Dow 13,363.35  57.88 (0.44%) 
Nasdaq 2,614.32  8.37 (0.32%) 
S&P 500 1,478.55  6.26 (0.43%) 
10-Yr Bond 4.5000%   0.0080 
NYSE Volume 2,826,259,000 
Nasdaq Volume 1,876,055,000 


its all in the green


----------



## bigdog

Source: http://finance.yahoo.com/
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by 57 points on Thursday September 6:

Sym Last....... ........Change..........
Dow	13,363.35	Up 57.88 (0.44%)
Nasdaq	2,614.32	Up 8.37 (0.32%)
S&P 500	1,478.55	Up 6.26 (0.43%)
10-Yr Bond	4.5000% 	Up 0.0080
NYSE Volume	2,826,259,000
Nasdaq Volume	1,876,055,000

*Overseas,* 
Japan's Nikkei stock average rose 0.61 percent. Britain's FTSE 100 rose 0.68 percent, Germany's DAX index rose 0.44 percent, and France's CAC-40 advanced 0.45 percent.

http://biz.yahoo.com/ap/070906/wall_street.html?.v=54
*Stocks Gain on Fed Speeches, Data*
Thursday September 6, 7:28 pm ET
By Lauren Villagran, AP Business Writer
*Stocks Gain After Jobless Claims Drop, Strong August Retail Sales*

NEW YORK (AP) -- Wall Street shook off early uncertainty to close moderately higher Thursday as a series of mixed economic reports managed to make investors more optimistic about the chances for an interest rate cut.

The market was uneasy after the Mortgage Bankers Association said homeowners beginning the foreclosure process in the second quarter reached a record 0.65 percent. It was the third consecutive quarter that the figure reached an all-time high. Though investors want growth to be slow enough to merit a rate cut when the Federal Reserve meets Sept. 18, they don't want to see the economy weaken to the point of recession.

But investors gleaned some reason for optimism from comments from Dallas Federal Reserve President Richard Fisher, who said inflationary pressures are "increasingly well behaved," and that the central bank is "listening carefully" to business conditions. St. Louis Fed President William Poole made similar comments earlier in the day.

"They didn't explicitly say they were going to cut rates, but some of the talk from the day gave reason to believe they may be leaning that way," said Todd Salamone, director of trading at Schaeffer's Investment Research. "The market is driven by words from the Fed that reinforces the idea they'll step up if necessary, and it is also very much data driven."

Reports on the job market, service sector, and August retail sales did not disappoint investors. Last week, for the first time in seven weeks, claims for unemployment benefits dropped, the Labor Department said. It also reported that worker productivity jumped to an annual growth rate of 2.6 percent in the April to June quarter, much better than expected.

The snapshots boded well for Friday's August employment report, the economic reading that investors are considering the most important this week.

The Dow Jones industrial average rose 57.88, or 0.44 percent, to 13,363.35, after earlier wobbling in and out of positive territory.

Broader stock indicators also lifted. The Standard & Poor's 500 index rose 6.26, or 0.43 percent, to 1,478.55, and the Nasdaq composite index rose 8.37, or 0.32 percent, to 2,614.32.

Bonds fell as stocks recovered ground. The yield on the benchmark 10-year Treasury note, which moves inversely to its price, rose to 4.51 percent from 4.47 percent late Wednesday. The dollar was lower against most other major currencies, while gold prices jumped.

The credit markets, whose problems caused the volatility on Wall Street over the past month, remain tight. The New York Fed, which carries out the central bank's market operation, injected a total of $31.25 billion through three repurchase agreements Thursday -- the largest amount the Fed has injected in weeks -- to help keep the markets liquid.

The Fed also reported that about 3 percent of asset-backed commercial paper, a type of bond companies sell for quick cash, was unable to be rolled over in the week ended Wednesday.

Further, Wall Street doesn't want to see signs of accelerating inflation -- such as surging crude oil prices, which briefly spiked above $77 a barrel Thursday on supply worries after the U.S. embassy in Nigeria said American and other Western interests in the country are at risk of a terrorist attack and after news that Syrian armed forces had opened fire on Israeli fighters. Inflationary risks have kept the Fed from lowering interest rates in recent months.

A barrel of light, sweet crude rose 57 cents to $76.30 on the New York Mercantile Exchange.

John O'Donoghue, co-head of equities at Cowen & Co., said most of Thursday's news was fairly benign. He explained that most people were waiting to see the jobs report on Friday, which could provide the markets a better idea about what the Fed's next move will be.

"They're waiting for the jobs number," he said. "I think people are kind of sitting on their hands."

With investors on alert for any sign that recent financial market turmoil has hurt consumer spending, better-than-expected August sales from major retailers Wal-Mart Stores Inc. and Target Corp. perhaps came as a welcome surprise.

Wal-Mart said same-store sales, which measure business at stores open at least one year, rose 3.1 percent, while Target said same-store sales in August rose 6.1 percent.

The two biggest retailers beat Wall Street estimates. Wal-Mart rose 31 cents to $42.76, and Target rose $1.51, or 2.4 percent, to $63.39.

Tony department store chain Saks Inc., teen apparel retailer Pacific Sunwear of California Inc. and children's clothier The Children's Place Retail Stores Inc. also topped analyst projections. Saks rose 49 cents, or 3.2 percent, to $15.81, Pacific Sun advanced 74 cents, or 5.2 percent, to $14.99, while Children's Place fell 29 cents to $27.68.

Meanwhile, the Institute for Supply Management's reading on the non-manufacturing sector showed that activity expanded in August at the same rate as in July.

Not only were investors worried about the rising foreclosure rate, but late Wednesday, mortgage lender Countrywide Financial Corp. said it will cut another 900 jobs nationwide after eliminating about 500 positions last month. The nation's largest mortgage lender by volume employs about 60,000 people.

Countrywide fell 33 cents, or 2.1 percent, to $18.48.

Lehman Brothers Holdings Inc. fell 52 cents to $53.83 after the nation's fourth-largest investment bank announced it is laying off 850 people from its home lending business in the U.S. and Britain. The company previously announced the closure of its BNC Mortgage LLC subsidiary.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where consolidated volume came to about 2.74 billion shares, down from 2.93 billion on Wednesday.

The Russell 2000 index of smaller companies rose 2.46, or 0.31 percent, to 792.92.

Overseas, Japan's Nikkei stock average rose 0.61 percent. Britain's FTSE 100 rose 0.68 percent, Germany's DAX index rose 0.44 percent, and France's CAC-40 advanced 0.45 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com/
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by 250 points on Friday September 7:

Sym Last....... ........Change..........
Dow	13,113.38	down 249.97	(.87%)
Nasdaq	2,565.70	down 48.62	(1.86%)
S&P 500	1,453.55	down 25.00	(1.69%)
10 Yr Bond(%)	4.37% down	0.13

The Dow Jones industrial average ended the week down 244.36, or 1.83 percent, at 13,113.38. The Standard & Poor's 500 index finished down 20.44, or 1.39 percent, at 1,453.55. The Nasdaq composite index ended down 30.66, or 1.18 percent, at 2,565.70.

In Asia, Japan's Nikkei stock average closed down 0.83 percent. Hong Kong's Hang Seng Index fell 0.28 percent, while the often-volatile Shanghai Composite Index fell 2.16 percent.

http://biz.yahoo.com/ap/070907/wall_street.html?.v=45
*Stocks Drop After Weak Jobs Report*
Friday September 7, 6:26 pm ET
By Tim Paradis, AP Business Writer
*Stocks Fall Sharply, Bond Prices Soar Following Weak Employment Report*

NEW YORK (AP) -- Wall Street plunged while bonds surged higher Friday after the government reported payrolls in August fell for the first time in four years rather than rising as had been expected. The Dow Jones industrial average fell nearly 250 points.

Investors were taken aback by the Labor Department's report that payrolls dropped by 4,000 in August, the first decline since August 2003. Economists had forecast payrolls would increase by 110,000. However, the unemployment rate held steady at 4.6 percent as expected.

Wall Street had been awaiting the report all week as it sought to determine how well the economy was holding up under the weight of a faltering housing market, a rise in mortgage defaults and tightening availability of credit. While the report is backward looking, investors regard it as an important proxy of the economy's overall health.

"This certainly cements the case for a Fed action at the next meeting. The debate has really become about whether it will be 25 or 50 basis points," said Zach Pandl, economist at Lehman Brothers Holdings Inc., referring to whether the central bank would reduce rates by a quarter point or a half percentage point. He expects the Fed will reduce rates by 25 basis points to 5 percent when it meets Sept. 18.

The Dow fell 249.97, or 1.87 percent, to 13,113.38.

Broader stock indicators also skidded. The Standard & Poor's 500 index fell 25.00, or 1.69 percent, to 1,453.55, and the Nasdaq composite index fell 48.62, or 1.86 percent, to 2,565.70.

The three major indexes, though still in positive territory for the year, all finished the week down more than 1 percent.

Bonds, meanwhile, soared following the jobs report as investors sought safety. The yield on the benchmark 10-year Treasury note, which moves inversely to its price, skidded to 4.37 percent from 4.51 percent late Thursday.

The dollar fell sharply following the report, as the likelihood of an interest rate cut appeared to increase. Dollar-based assets would earn less interest if the Fed were to cut rates. In addition, gold prices rose sharply because some investors would be expected to abandon a weakening dollar and move into gold if the central bank lowers rates.

"This is just the expected response," said Pandl, referring to Wall Street's reaction to the jobs report. "The markets are repricing for lower growth and expectations of Fed cuts."

While the employment report clearly unnerved an already jittery Wall Street, some investors had been looking for a weak showing, arguing that a drop in employment could offer adequate reason for the Federal Reserve to lower short-term interest rates. But the employment report appeared to signal too much weakness even for those pulling for a rate cut. Making matters worse, the Labor Department revised the jobs figures for June and July, saying the economy added fewer jobs than had been reported.

The central bank has left its fed funds rate unchanged for more than a year as it has sought to hold down inflation. But recent upheavals in financial markets have stirred concerns of a slowing economy and led some investors to expect a rate cut.

Consumers who feel confident in their ability to continue to earn are likely to keep spending, investors reason, and consumer spending is responsible for about two-thirds of U.S. economic activity.

"It is a pretty solid data point that gives people real cause for concern," said James Sonneborn, wealth manager at RegentAtlantic Capital LLC, noting that he generally tries to avoid placing too much emphasis on a single economic reading.

"It certainly gives the Fed cover to cut rates and the rationale," he said, noting that the central bank has sounded fewer cautionary notes recently about inflation, always one of its chief concerns. Still, Sonneborn doesn't expect the employment report will prompt the Fed to cut rates before its meeting on the 18th.

"They never want to show a panic. You might get a change in the commentary or the tone when the Fed president's speak publicly. That might be their opportunity to verbally guide people toward what they're thinking."

Several regional Fed presidents are scheduled to speak next week.

Comments from one former Fed official -- Alan Greenspan -- perhaps added to Wall Street's unease Friday. The Wall Street Journal reported the former Fed chairman on Thursday told a group of economists in Washington that the recent market turmoil is similar to that of 1987, when the Black Monday crash occurred, and of 1998, when the big hedge fund Long-Term Capital Management came close to collapsing. Greenspan's comments come about a month ahead of the 20th anniversary of the stock market's crash on Oct. 19, 1987.

The flurry of disappointing news came a day after stocks had posted sizable gains on the notion that mixed economic data revealed an economy that was holding up but not growing at such a pace to push inflation higher and rule out a rate cut. A variety of retailers posted stronger-than-expected sales for August, while a report on the nation's service sector, where most Americans work, showed it expanded in August at the same rate as in July.

And on Wednesday, a series of anecdotal reports from the Fed's regional banks found only limited instances in which the jitters in the financial markets in the past seven weeks -- particularly in August -- had dampened business activity outside the real estate sector.

Investors in oil appeared able to largely shake off concerns about the employment picture. Light, sweet crude rose 40 cents to $76.70 a barrel on the New York Mercantile Exchange.

Declining issues outnumbered advancers by more than 3 to 1 on the New York Stock Exchange, where consolidated volume came to 3.19 billion shares, up from 2.74 billion on Thursday.

The Russell 2000 index of smaller companies fell 17.13, or 2.16 percent, to 775.79.

The U.S. jobs report prompted broader selling in markets overseas. Britain's FTSE 100 closed down 1.93 percent, Germany's DAX index fell 2.43 percent, and France's CAC-40 fell 2.63 percent.

In Asia, Japan's Nikkei stock average closed down 0.83 percent. Hong Kong's Hang Seng Index fell 0.28 percent, while the often-volatile Shanghai Composite Index fell 2.16 percent.

The Dow Jones industrial average ended the week down 244.36, or 1.83 percent, at 13,113.38. The Standard & Poor's 500 index finished down 20.44, or 1.39 percent, at 1,453.55. The Nasdaq composite index ended down 30.66, or 1.18 percent, at 2,565.70.

The Russell 2000 index finished the week down 17.07, or 2.15 percent, at 775.79.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 14,655.52, down 192.18, or 1.29 percent, for the week. A year ago, the index was at 12,948.96.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by 14 points on Monday September 10:

Sym Last....... ........Change..........
Dow	13,127.85	+14.47	+0.11%
Nasdaq	2,559.11	-6.59	-0.26%
S&P 500	1,451.70	-1.85	-0.13%
10 Yr Bond(%)	4.3240%	-0.0440

Overseas, Japan's Nikkei stock average fell 2.22 percent. Britain's FTSE 100 fell 0.92 percent, Germany's DAX index fell 0.82 percent, and France's CAC-40 fell 0.80 percent.

http://biz.yahoo.com/ap/070910/wall_street.html?.v=13
Stocks Close Mixed After Fed Speeches
Monday September 10, 6:07 pm ET
By Madlen Read, AP Business Writer
Stocks Close Mixed As Investors Digest Fed Speeches Ahead of Next Week's Rate Decision

NEW YORK (AP) -- Wall Street finished a volatile session mixed Monday as investors grappled with the possibility that the Federal Reserve might not lower interest rates as much as they hope.

The stock market racheted up and down throughout the day, with Wall Street still nervous after Friday's dismal employment report. The data, which showed the first monthly decline in jobs in four years, rekindled fears about housing and credit market weakness bleeding into the overall economy and squeezing consumer spending.

Speeches from Fed officials Monday seemed to give investors a bit more reason to be optimistic about the economy, but the officials avoided hinting at how the central bank might alter rates.

San Francisco Fed President Janet Yellen said that while market turmoil has the potential to hurt the economy, rate policy should not be used to shield investors from losses. Dallas Fed President Richard Fisher said the economy appears to be "weathering the storm," and Atlanta Fed President Dennis Lockhart said investors should consider Friday's unemployment report in the context of a mostly strong batch of retail sales reports.

For many investors, a rate cut after more than a year of the Fed standing pat on rates is practically a given. The debate, as they see it, is whether the Fed on Sept. 18 will reduce rates by a quarter percentage point or a half percentage point to loosen up the tight credit markets -- and also, if the central bank will continue to reduce rates as the year goes on.

There could be a major sell-off if the Fed doesn't reduce rates next week, said Scott Fullman, director of investment strategy for I. A. Englander & Co. And until then, movements will likely to be choppy, and exaggerated by low trading volumes. "It's very volatile here, but we're not seeing a tremendous amount of volume. People are on the sidelines. I think people want to be convinced of what's happening before they get back in."

The Dow Jones industrial average rose 14.47, or 0.11 percent, to 13,127.85, after falling 250 points on Friday and switching directions several times throughout the session Monday.

Broader stock indexes fell. The Standard & Poor's 500 index slipped 1.85, or 0.13 percent, to 1,451.70, and the Nasdaq composite index declined 6.59, or 0.26 percent, to 2,559.11.

Bond prices rose as stocks slipped, pushing the yield on the benchmark 10-year Treasury note down to 4.33 percent from 4.37 percent late Friday.

Stocks experienced a short relief rally in afternoon trading after Gen. David Petraeus said to Congress that he recommended to President Bush that the drawdown of U.S. forces from Iraq start this month, said Alfred Goldman, chief market strategist at A.G. Edwards & Sons Inc. But the gains were quickly lost.

Fresh economic data was sparse Monday. The one notable report came from the Federal Reserve, which said consumer credit rose at an annual rate of 3.7 percent in July, down from a 5.9 percent growth rate for consumer debt in June.

The Russell 2000 index of smaller companies fell 5.98, or 0.77 percent, to 769.81.

Declining issues outnumbered advancers by about 5 to 3 on the New York Stock Exchange, where consolidated volume came to 2.85 billion shares, down from 3.19 billion on Friday.

On Friday, the Labor Department's jobs report further depressed a market already uneasy about a lackluster housing market, tightening availability of credit and a rise in mortgage defaults. Because of Friday's retrenchment, the three major indexes all lost more than 1 percent for the week.

While some investors had hoped for weak data to help the Fed justify cutting interest rates when it meets next week, the market was shocked by a loss in jobs when a gain had been expected. With consumer spending accounting for about two-thirds of economic activity, Wall Street is concerned about any loss in employment that would make consumers hesitant to spend.

On Monday, the market absorbed more news of fallout from mortgage failures. Countrywide Financial Corp. said after the closing bell Friday it would cut as many as 12,000 jobs -- up to 20 percent of it work force -- as the mortgage lender tries to ride out upheaval in the mortgage industry. The company expects new mortgages to fall 25 percent next year.

Countrywide fell $1, or 5.5 percent, to $17.21.

Not all financial stocks were weak, though -- British billionaire Joseph Lewis, a magnate who controls more than 170 companies, acquired a 7 percent stake in investment bank Bear Stearns Cos. Bear Stearns rose $2.13, or 2 percent, to $107.50.

Some technology stocks were also strong. Advanced Micro Devices Inc. rose 33 cents, or 2.6 percent, to $12.94 after releasing its newest microprocessor, and Apple Inc. rose $4.94, or 3.8 percent, to $136.71 after selling its 1 millionth iPhone on Sunday.

Intel Corp. initially rose after boosting its third-quarter sales outlook, but finished down 12 cents at $25.35.

Light, sweet crude futures for October delivery rose 79 cents to $77.49 a barrel on the New York Mercantile Exchange.

The dollar slipped against most other major currencies, while gold prices, which have risen sharply in recent weeks amid concerns about the strength of the U.S. dollar, extended their gains. A rate cut by the Fed could hurt dollar-denominated assets, prompting some investors to shift into gold.

Overseas, Japan's Nikkei stock average fell 2.22 percent. Britain's FTSE 100 fell 0.92 percent, Germany's DAX index fell 0.82 percent, and France's CAC-40 fell 0.80 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by 180 points on Tuesday September 11:

Sym Last....... ........Change..........
Dow	13,308.39	+180.54	+1.38%
Nasdaq	2,597.47	+38.36	+1.50%
S&P 500	1,471.49	+19.79	+1.36%
30-yr Bond	4.6480%	+0.0070
NYSE Volume	3,015,314,000
Nasdaq Volume	1,794,790,000

Overseas, Japan's Nikkei stock average added 0.71 percent. Britain's FTSE 100 rose 2.13 percent, Germany's DAX index rose 1.02 percent, and France's CAC-40 rose 1.69 percent.

European equity markets looked past a pared-back forecast for annual economic growth on Tuesday. The European Commission cut its growth estimate to 2.5 percent from 2.6 percent, saying the region's economy may have peaked as tighter credit conditions raise the risk of a global slowdown.

http://biz.yahoo.com/ap/070911/wall_street.html?.v=32
*Stocks End Higher on Hopes for Rate Cut*
Tuesday September 11, 5:33 pm ET
By Joe Bel Bruno, AP Business Writer
*Wall Street Holds Gains on Further Hopes Interest Rate Cut Is on the Way*

NEW YORK (AP) -- Wall Street rose sharply Tuesday as investors grew more confident that the Federal Reserve will lower interest rates next week, even after its chairman gave no clues about the central bank's intentions. The Dow Jones industrials rose 180 points.

Traders had been hoping Fed Chairman Ben Bernanke would give some indication during a speech to Germany's Bundesbank about the Fed's next move. Wall Street is looking for a rate cut to help bolster the U.S. economy and ease problems caused by tightening credit availability.

Instead, Bernanke talked about the need for countries around the globe to cooperate toward economic stability. He said "global imbalances" occur when countries run up trade deficits or produce big trade surpluses.

"Bernanke didn't really say anything about interest rates, but at this point the feeling on Wall Street is that it's mandatory," said Steven Goldman, chief market strategist, Weeden & Co., speaking about a rate cut. "At this point, the market is pricing in not just one rate cut, but a couple, and that's helping to stabilize stocks."

The stock market has been volatile since midsummer, with jitters high about the sluggish housing market and debt aversion causing a standstill in the credit markets and damaging the economy. Last Friday's jobs report, which showed the first monthly payrolls decline in four years, aggravated those concerns. Mark Zandi, chief economist at Moody's Economy.com, predicted the risk of a recession in the next six to 12 months has increased to nearly 40 percent from less than 15 percent before subprime concerns began riling the markets.

Investors nervous about the U.S. economy slipping into recession got a bit of relief from the Commerce Department's report on the U.S. trade deficit. The trade gap narrowed modestly in July to $59.2 billion from $59.4 billion in June, thanks to record exports of farm goods, autos and other products. Many economists had anticipated a widening of the deficit.

The Dow rose 180.54, or 1.38 percent, to 13,308.39.

The Standard & Poor's 500 index rose 19.79, or 1.36 percent, to 1,471.49, while the Nasdaq composite index rose 38.36, or 1.50 percent, to 2,597.47.

Bonds fell as investors withdrew money to buy stocks, pushing the 10-year Treasury note's yield up to 4.37 percent from 4.27 percent late Monday. The dollar weakened against the euro and British pound, while gold moved higher.

Tim Krause, director of risk management at California-based Zecco Trading, agreed that Tuesday's rally was due to institutional investors being optimistic about a rate cut. However, he's not entirely convinced the Fed will cut rates ,given that it will impact an already weakened dollar -- which is now near a record low versus the euro.

"The Fed is between a rock and a hard place," he said. "If they lower interest rates, the dollar will keep getting crushed. If they don't, the subprime mess will get worse and hurt the housing market."

Though much of the attention was on the central bank, there was some corporate news that influenced stocks.

The Nasdaq got a boost due to ImClone Systems Inc., which along with Bristol-Myers Squibb Co. said the drug Erbitux improved the survival rate of lung cancer patients in a late-stage study. ImClone soared $6.97, or 18.4 percent, to $44.90. Bristol-Myers rose 23 cents to $28.23.

The Dow, meanwhile, benefited from strong gains in McDonald's Corp. shares. The fast food chain, which is one of the 30 companies that make up the Dow, rose $1.61, or 3.2 percent, to $51.76 after reporting that global sales at restaurants open at least a year rose 8.1 percent in August.

Boeing Co. also helped the blue chips advance after it was awarded a $1.1 billion U.S. Air Force contract. Shares picked up $2.11, or 2.2 percent, to $97.44.

General Motors Corp. rose $1.33, or 4.6 percent, to $30.54 as investors got a glimpse of new models at the Frankfurt Auto Show.

Crude oil rose 74 cents to $78.23 after OPEC agreed to boost its crude output by 500,000 barrels a day in an effort to calm markets unnerved by high energy prices and worried that supplies could grow tight by the end of the year. It was expected that OPEC would keep current output targets in place, although Saudi Arabia was said to be pushing for a production increase.

Advancing issues outnumbers decliners about 2 to 1 on the New York Stock Exchange, where consolidated volume came to 2.97 billion shares, compared to 2.87 billion on Monday.

The Russell 2000 index of smaller companies was up 12.46, or 1.62 percent, at 782.27.

Overseas, Japan's Nikkei stock average added 0.71 percent. Britain's FTSE 100 rose 2.13 percent, Germany's DAX index rose 1.02 percent, and France's CAC-40 rose 1.69 percent.

European equity markets looked past a pared-back forecast for annual economic growth on Tuesday. The European Commission cut its growth estimate to 2.5 percent from 2.6 percent, saying the region's economy may have peaked as tighter credit conditions raise the risk of a global slowdown.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by 16 points on Wednesday September 12:

Sym Last....... ........Change..........
Dow	13,291.65	-16.74	-0.13%
Nasdaq	2,592.07	-5.40	-0.21%
S&P 500	1,471.56	+0.07	+0.00%
30-yr Bond	4.6870%	+0.0390
NYSE Volume	2,909,941,000
Nasdaq Volume	1,939,990,000

In Asia, Japan's Nikkei stock average fell 0.50 percent after Japanese Prime Minister Shinzo Abe announced Wednesday he would resign, ending a troubled year-old government that has suffered damaging scandals.

In Europe, Britain's FTSE 100 rose 0.41 percent, Germany's DAX index rose 0.20 percent, and France's CAC-40 rose 0.53 percent.

http://biz.yahoo.com/ap/070912/wall_street.html?.v=35
*Stocks Flat As Dollar Falls, Oil Soars*
Wednesday September 12, 5:36 pm ET
By Madlen Read, AP Business Writer
*Stocks Flat As Market Awaits Fed Decision Amid Tumbling Dollar and Soaring Oil*

NEW YORK (AP) -- Wall Street finished essentially flat Wednesday, with investors still confident the Federal Reserve will lower rates next week but treading cautiously as oil prices crossed $80 a barrel for the first time and the dollar extended its decline.

Investors widely expect the central bank next Tuesday to lower the benchmark federal funds rate by a quarter percentage point. The decision has not been guaranteed, though, and furthermore, many investors worry that a quarter-point rate reduction might not be enough to address investors' worries over the ongoing housing slump and credit market tightness.

"The more urgent problem than what the price of money is, is the availability of money," said John Merrill, chief investment officer of Tanglewood Capital Management in Houston. "There's such a scramble for cash."

Meanwhile, crude oil's spike above $80 a barrel, the highest it's ever been in intraday trading, and a weakening dollar fed concerns about inflation. Accelerating inflation is not only a threat to consumer spending -- a pillar of the economy that Wall Street fears is weakening -- but it also gives the Fed a reason to keep rates where they are.

Crude oil settled at a record $79.91 a barrel on the New York Mercantile Exchange after the U.S. government reported declines last week in crude and gasoline supplies. Jack Ablin, chief investment officer at Harris Private Bank, pointed out that price surges in commodities hit Americans particularly hard because they're denominated in the dollar, which on Wednesday dipped to a new record low versus the euro.

"I think the Fed has to pay attention to this. They need as much elbow room as they can get to make a decision they feel is right," Ablin said. "Should this dollar continue to fall, it has the potential to limit the Fed's ability to respond to the economy."

However, rising energy prices and a falling dollar have some advantages on Wall Street. High energy costs evince strong global demand, and boost the profits of oil and gas companies, while a weaker dollar benefits U.S. companies that draw revenue from overseas.

The Dow Jones industrial average fell 16.74, or 0.13 percent, to 13,291.65, after weaving in and out of positive territory throughout the session. A day earlier, the blue-chip index soared 180 points.

Broader stock indexes were narrowly mixed. The Standard & Poor's 500 index rose 0.07, or less than 0.01 percent, to 1,471.56, and the Nasdaq composite index fell 5.40, or 0.21 percent, to 2,592.07.

Government bond prices slipped. The yield on the 10-year Treasury note, which moves opposite its price, rose to 4.41 percent from 4.36 percent late Tuesday.

The dollar extended its slide against the euro, hitting a new record low amid expectations of a rate cut from the Fed, which would make the U.S. currency a less attractive investment vehicle. The 13-nation euro rose as high as $1.3914 in late European trading, surpassing its previous record of $1.3852 reached July 24.

The dollar also weakened against the yen -- an important currency for the stock market because of the yen carry-trade, where people invest their yen in higher-yielding dollar assets. When the dollar falls against the yen, people tend to exit these positions.

Over the last four weeks increasing energy prices have boosted the energy sector by about 7 percent. On Wednesday, Exxon Mobil Corp. rose 71 cents to $87.65; Chevron Corp. rose 60 cents to $89.19; and ConocoPhillips rose $1.32 to $84.85.

Gold prices also gained. In other commodities trading, wheat rose above $9 a bushel to a fresh peak, before retreating to close at $8.605 a bushel.

As Americans deal with rising food and energy costs, the housing and credit markets appear to remain far from a rebound. Treasury Secretary Henry Paulson said Wednesday that financial market turmoil will take some time to be resolved, especially in the area of subprime mortgages, which are home loans given to borrowers with spotty credit histories.

Home buying is not at a standstill, though. The Mortgage Bankers Association's weekly survey showed that as rates fell in the week ended Sept. 7, mortgage application volume rose 5.5 percent, refinance volume jumped 6 percent, and the purchase index increased 5.2 percent, adjusted for the Labor Day holiday.

Declining issues outnumbered advancers by about 9 to 7 on the New York Stock Exchange. Consolidated volume came to a relatively low 2.90 billion shares, down slightly from 2.97 billion shares on Tuesday.

The Russell 2000 index of smaller companies fell 4.37, or 0.56 percent, to 777.90.

In Asia, Japan's Nikkei stock average fell 0.50 percent after Japanese Prime Minister Shinzo Abe announced Wednesday he would resign, ending a troubled year-old government that has suffered damaging scandals.

In Europe, Britain's FTSE 100 rose 0.41 percent, Germany's DAX index rose 0.20 percent, and France's CAC-40 rose 0.53 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by 133 points on Thursday September 13:

Sym Last....... ........Change..........
Dow	13,424.88	+133.23	+1.00% -- Day's Range:	13292.38 - 13469.27
Nasdaq	2,601.06	+8.99	+0.35% -- Day's Range:	2589.41 - 2612.70
S&P 500	1,483.95	+12.39	+0.84% -- Day's Range:	1471.47 - 1489.58
30-yr Bond	4.7430%	+0.0560
NYSE Volume	2,917,299,000
Nasdaq Volume	1,704,764,000

In markets abroad, Britain's FTSE 100 added 0.91 percent, Germany's DAX index rose 0.84 percent and France's CAC-40 rose 1.05 percent. In Asia, Japan's Nikkei stock average ended up 0.15 percent, while Hong Kong's Hang Seng Index rose 0.93 percent.

http://biz.yahoo.com/ap/070913/wall_street.html?.v=46
*Stocks Rise on Countrywide, GM News*
Thursday September 13, 6:39 pm ET
By Tim Paradis, AP Business Writer
*Stocks Rise After Countrywide Gets Financing, GM Progresses in Health Care Talks*

NEW YORK (AP) -- Stocks advanced solidly Thursday, led by strong gains among the blue chips and mortgage lender Countrywide Financial Corp., which signaled a possible thawing in the credit markets with the announcement it had lined up additional financing.

The Dow Jones industrial average rose by more than 130 points after General Motors Corp. surged 10 percent amid reports that talks between the automaker and workers over the thorny issue of health care costs have perhaps been fruitful. Meanwhile, McDonald's Corp. closed at an all-time high after boosting its dividend and bond prices fell sharply.

Investors, who have been nervous about the economic fallout from rising mortgage defaults and tightness in the credit markets, were relieved to hear Countrywide -- the nation's largest mortgage lender -- secured $12 billion in credit.

"It appears that this credit crunch may not be as bad as some people thought," said Charles Norton, principal and portfolio manager at GNICapital, crediting the Countrywide news with lifting overall investor sentiment.

The Dow rose 133.23, or 1.00 percent, to 13,424.88.

Broader stock indicators also advanced, though more modestly. The Standard & Poor's 500 index rose 12.39, or 0.84 percent, to 1,483.95, and the technology-heavy Nasdaq composite index rose 8.99, or 0.35 percent, to 2,601.06.

Government bond prices fell sharply as stocks advanced and investors grew more confident they could move out of the safest bets. The yield on the 10-year Treasury note, which moves opposite its price, jumped to 4.48 percent from 4.41 percent late Wednesday.

"Some other financings have been done. There have been some corporate bond issues," Norton said, listing some of the reasons beyond the Countrywide news for a "slight easing" in concerns about credit.

While he warned further examples of credit distress are likely to pop up, he said much of the intransigence in the credit markets could ease as fear dissipates.

"A lot of this has to do with psychology," Norton said. "When you see some stabilization, it gives people more confidence to lend."

Wall Street shrugged off a record close in crude oil prices, which edged up 18 cents to $80.09 per barrel on the New York Mercantile Exchange. It was the first time oil has closed above $80.

Gold prices fell for a second day as the U.S. dollar came off an all-time low against the euro.

Economic news, while not commanding Wall Street's attention as did the credit markets and some corporate news, nevertheless appeared to help boost the mood on Wall Street. The Federal Reserve reported Thursday afternoon that the outstanding volume of commercial paper fell by $8.2 billion to $1.917 trillion, the fifth consecutive week it has fallen. The decline signals the corporate short-term commercial paper market could be stabilizing. Commercial paper comprises bonds issued by companies as a way for them to get cash quickly.

The Labor Department reported claims for unemployment benefits rose last week -- the sixth increase in seven weeks -- but less than analysts expected. Low unemployment, at 4.6 percent, has been one of the economy's strengths.

The rise in jobless claims follows last week's reading on August payrolls, which declined for the first time in four years and sent stocks plummeting amid worries that credit tightness and market turmoil had hit the labor market. But Thursday's report appeared to assuage some concerns.

In addition, the Treasury Department reported the federal deficit is running at a pace well below last year even as spending in August reached a record high.

On Wednesday, investors refrained from major moves ahead of next week's meeting of the Fed's policymakers. Wall Street has grown more confident the Fed will cut its benchmark federal funds rate.

With the backdrop of supportive economic readings, investors were free to follow some upbeat corporate news. Countrywide rose $2.31, or 14 percent, to $18.93 after the company added to its borrowing capacity. The move comes after Countrywide borrowed $11.5 billion and sold a $2 billion stake to Bank of America Corp. in recent weeks to keep its retail banking and mortgage businesses running.

The news helped lift the financial sector, which has struggled because of anxiety about the credit markets. Bear Stearns & Cos., Merrill Lynch and Goldman Sachs rose about 3 percent, and Morgan Stanley and Lehman Brothers rose 3 percent or more.

Wall Street also applauded apparent progress in Detroit. GM rose $3.04, or 10.1 percent, to $33.29, following a Wall Street Journal report that union officials might go along with a plan to form a health care trust fund that the union would control. The plan could allow U.S.-based automakers to shed billions in costs. Ford also rose on the news, closing up 42 cents, or 5.6 percent, at $7.92.

McDonald's, which like GM is a component of the Dow industrials, advanced $3.10, or 6.1 percent, to $54.30 after increasing its dividend 50 percent a day after reporting stronger-than-expected sales for August.

Advancing issues outnumbered decliners by about 3-to-2 on the New York Stock Exchange, where consolidated volume came to 2.87 billion shares compared with volume of 2.90 billion Wednesday.

The Russell 2000 index of smaller companies rose 2.45, or 0.31 percent, 780.35.

In markets abroad, Britain's FTSE 100 added 0.91 percent, Germany's DAX index rose 0.84 percent and France's CAC-40 rose 1.05 percent. In Asia, Japan's Nikkei stock average ended up 0.15 percent, while Hong Kong's Hang Seng Index rose 0.93 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by 17 points on Friday September 14:

Sym Last....... ........Change..........
Dow	13,442.52	+17.64	+0.13% 
-- Day's Range:	13323.84 - 13459.75 and 52wk Range:	11,762.70 - 14,121.00
Nasdaq	2,602.18	+1.12	+0.04% 
-- Day's Range:	2577.73 - 2603.63 and 52wk Range:	2,292.29 - 2,724.74
S&P 500	1,484.25	+0.30	+0.02%  
-- Day's Range:	1473.18 - 1485.99 and 52wk Range:	1,343.57 - 1,555.90
30-yr Bond	4.7240%	-0.0190 
NYSE Volume	2,649,810,000
Nasdaq Volume	1,604,089,000

In markets abroad, Germany's DAX index fell 0.51 percent and France's CAC-40 lost 0.49 percent. In Asia, Japan's Nikkei stock average closed up 1.94 percent, while Hong Kong's Hang Seng Index gained 1.47 percent.

http://biz.yahoo.com/ap/070914/wall_street.html?.v=27
*Stocks Finish Flat Ahead of Fed Meeting*
Friday September 14, 5:44 pm ET
By Tim Paradis, AP Business Writer
*Stocks Post Quiet End to Strong Week Ahead of Fed Meeting; Dow Has Best Week Since April
*
NEW YORK (AP) -- Wall Street finished a strong week little changed Friday after investors looked past weaker-than-expected economic readings and focused on the ramifications of the Federal Reserve's decision on interest rates next week.

Stocks initially fell sharply Friday following a government report that August retail sales excluding automobiles declined precipitously. The report suggested consumers held off spending in the face of turmoil in the financial markets, an unwelcome development that some on Wall Street are hoping could be reversed by a rate cut. Some investors regarded the readings as supporting the case for a rate cut when Fed policy makers meet Tuesday.

"Emotions are running fairly high," said Robert Schaeffer, vice president at Becker Capital Management Inc. in Portland, Ore. "I think you're seeing a lot of normal gyrations in anticipation of whatever the Fed does. They're looking at the economic data and trying to cypher out of that how that's going to impact the Fed's decision next week," he said of investors.

Friday's session began with unease over the Bank of England's decision to grant emergency funding to lender Northern Rock PLC, which was facing a possible liquidity crisis. The need for the bailout unearthed fresh concerns about the fallout from tightness in the credit markets.

The Dow Jones industrial average rose 17.64, or 0.13 percent, to 13,442.52, giving the blue chip index an advance of 2.5 percent for the week -- its best showing since April.

Broader stock indicators likewise showed modest gains Friday but managed their biggest weekly gains since mid-August. The Standard & Poor's 500 index rose 0.30, or 0.02 percent, to 1,484.25, and the Nasdaq composite index edged up 1.12, or 0.04 percent, to 2,602.18.

For the week, the S&P rose 2.2 percent, while the Nasdaq added 1.4 percent.

Government bond prices finished almost unchanged Friday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 4.46 percent from 4.49 percent late Thursday.

Stocks took a hit early Friday after the Commerce Department reported that retail sales fell 0.4 percent in August excluding vehicle sales. Wall Street had been looking for a gain excluding autos. Over all, including autos, retail sales increased 0.3 percent last month.

Investors have been on edge over whether tightness in the credit market, a housing slump and volatility on Wall Street have dented consumer spending, which accounts for more than two-thirds of economic activity.

In another report that perhaps stirred unease about the economy, industrial production in August edged up by just 0.2 percent, the weakest advance in three months. The figure reflects a 0.3 percent decline in output from U.S. factories.

Wall Street seemed to wrestle with how the readings might affect the Fed's stance on interest rates. The central bank has left the benchmark fed funds rate unchanged at 5.25 percent for more than year after a string of increases and hasn't cut rates since 2003. Many on Wall Street expect a cut and are debating whether it will be a quarter percentage point or a half percentage point.

While a cut would make some borrowing less expensive, not all costs would come down. Some adjustable rate mortgages, a chunk of which are due to reset from low initial rates this fall, are tied to benchmarks other than the fed funds rate, such as the London Interbank Offered Rate, which last week hit multiyear highs.

"Everyone expects the Fed to cut. I guess one of our concerns is the feeling the market has that either the Fed or the government can legislate prosperity," said Denis Amato, chief investment officer at Ancora Advisors. "The Fed can sometimes dampen volatility but they can't create prosperity by pumping money into the system. At some point they have to let some of these excesses play out," he said, referring to trouble in the housing market and tighter access to credit.

Northern Rock's appeal to the Bank of England touched off concerns about the viral nature of problems in the U.S. mortgage market and how long subprime concerns might persist. Britain's FTSE 100 came off its lows but still finished down 1.17 percent.

Amato said the Fed must balance concerns about cutting rates to ease some of Wall Street's unease about credit with a need to keep inflation in check and the dollar from continuing to slide.

"Our concern is that the Fed is sort of in a box because if they cut too fast they run the risk of weakening the dollar. If we see foreign investors figure the dollar is declining they might pull their money, in which case the rates go up, not down," said Amato.

If rates decline, investors could take money out of Treasurys and seek higher-yielding assets elsewhere.

The focus on the Fed and other economic issues has led investors to appear little concerned this week by record oil prices. Light, sweet crude fell 99 cents Friday to settle at $79.10 on the New York Mercantile Exchange. Oil closed above $80 per barrel for the first time Thursday.

Gold prices settled moderately lower, while the dollar traded mixed against other major currencies.

Advancing issues outpaced decliners by about 9 to 7 on the New York Stock Exchange, where volume came to a light 1.2 billion shares compared with 1.27 billion traded Thursday.

The Russell 2000 index of smaller companies rose 3.14, or 0.40 percent, to 783.49.

In markets abroad, Germany's DAX index fell 0.51 percent and France's CAC-40 lost 0.49 percent. In Asia, Japan's Nikkei stock average closed up 1.94 percent, while Hong Kong's Hang Seng Index gained 1.47 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by 39 points on Monday September 17:

Sym Last........ ........Change..........
Dow	13,403.42	-39.10	-0.29% 
-- Day's Range:	13362.37 - 13451.54 and 52wk Range:	11,423.60 - 14,121.00
Nasdaq	2,581.66	-20.52	-0.79% 
-- Day's Range:	2575.36 - 2596.09 and 52wk Range:	2,202.93 - 2,724.74
S&P 500	1,476.65	-7.60	-0.51% 
-- Day's Range:	1471.82 - 1484.24 and 52wk Range:	1,310.94 - 1,555.90
30-yr Bond	4.7140%	-0.0100
NYSE Volume	2,598,393,000
Nasdaq Volume	1,526,387,000

In Europe, Britain's FTSE 100 fell 1.69 percent, Germany's DAX index fell 0.24 percent, and France's CAC-40 fell 1.80 percent.

Japanese markets were closed Monday for a holiday. 

China's volatile Shanghai Composite Index rose 2.1 percent to a record, but most Asian stocks fell. Hong Kong's Hang Seng Index declined 1.20 percent.

http://biz.yahoo.com/ap/070917/wall_street.html?.v=33
*Stocks Fall As Fed Decision Looms*
Monday September 17, 5:50 pm ET
By Madlen Read, AP Business Writer
*Stocks Dip As Wall Street Refrains From Big Bets Ahead of Fed Meeting; Oil at Record High*

NEW YORK (AP) -- Wall Street fell moderately Monday as investors anxiously awaited the Federal Reserve's impending decision on interest rates.

The market is betting on a rate cut from the Fed when the central bank meets Tuesday, but investors are not completely sure what it will do and what it will say in its accompanying economic statement. Furthermore, with the major brokerages' third-quarter results yet to be released, investors are uncertain about how badly the summer's stock downturn, souring home loans, and credit squeeze hit the banking industry.

Adding to the uneasiness, Northern Rock PLC, Britain's fifth-largest mortgage lender, saw its stock plunge and customers withdraw billions of dollars after it issued a profit warning Friday and requested emergency funds from the Bank of England. That gave U.S. investors an added impetus to pare their stock holdings, particularly in the financial sector.

Talk from former Fed Chairman Alan Greenspan of the possibility of a recession amid high inflationary pressures also elevated Wall Street's jitters, as did job cuts at Merrill Lynch & Co.'s First Franklin Financial Corp.

It's possible the Fed won't go through with a rate cut at all if it believes the economy is still growing moderately and that inflation remains a threat, but most investors expect the Fed to cut the bench mark federal funds rate, now at 5.25 percent, by at least a quarter-point. And because negative economic data have trickled in over the last couple weeks -- such as a decrease of 4,000 jobs in August and weaker-than-expected retail sales -- some anticipate a half-point rate cut.

"A quarter-point is going to be disappointing. It's already priced in," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. But the Fed probably won't want to lower rates by more than that, he said, and the central bank may not indicate in its statement that more reductions are in the offing.

"The big issue is gold and oil have been spiking higher, which people could argue is inflationary, but economic data has been weak. The Fed's in a tough place." Higher interest rates prevent costs from rising; lower rates fuel growth but also tend to accelerate inflation.

The Dow Jones industrial average fell 39.10, or 0.29 percent, to 13,403.42.

Broader stock indicators showed somewhat steeper losses. The Standard & Poor's 500 index fell 7.60, or 0.51 percent, to 1,476.65, and the Nasdaq composite index lost 20.52, or 0.79 percent, to 2,581.66. The Russell 2000 index, which tracks small company stocks, fell 7.68, or 0.98 percent, to 775.81.

Bonds rose modestly, pushing the yield on the 10-year Treasury note down to 4.47 percent from 4.48 percent late Friday.

Volume on the New York Stock Exchange was among the lightest of any day this year, indicating that many market participants were staying on the sidelines ahead of the Fed's decision. Consolidated volume totaled 2.47 billion shares compared with 2.65 billion traded Friday.

Declining issues outnumbered advancers by more than 2 to 1 on the NYSE.

Last week, stocks saw sizable gains, due largely to high expectations of a rate cut. The Dow ended up 2.51 percent, the Standard & Poor's 500 index rose 2.11 percent, and the Nasdaq composite index rose 1.42 percent. The Dow is just 4 percent below its all-time high of 14,000.41, reached in July before fears escalated about bad home loans and excessive leveraged debt.

The prospect of a recession has been keeping the markets volatile.

Greenspan said in an interview with NBC before the markets opened Monday that the risk of a recession is higher than it was at the beginning of the year, but not by much.

Meanwhile, U.S. Treasury Secretary Henry Paulson said in Paris that regulators should not rush to impose new rules on the market because of the recent tightening in credit.

"There's tremendous growth going on in many parts of our world economy, and that's driving a lot of business here in the U.S.," said Rob Lutts, chief investment officer of Cabot Money Management, noting that the markets are focused on the U.S. housing market right now. "I'm not going to say let's not worry, but let's put it in perspective."

The dollar was mixed against other major currencies while gold jumped.

Crude oil prices rose $1.47 to settle at a record $80.57 per barrel on the New York Mercantile Exchange. Crude closed over $80 for the first time last week; oil futures also set a trading record Monday, moving as high as $80.70.

In Europe, Britain's FTSE 100 fell 1.69 percent, Germany's DAX index fell 0.24 percent, and France's CAC-40 fell 1.80 percent.

Japanese markets were closed Monday for a holiday. China's volatile Shanghai Composite Index rose 2.1 percent to a record, but most Asian stocks fell. Hong Kong's Hang Seng Index declined 1.20 percent.

Later in the week the major investment banks -- Bear Stearns Cos., Lehman Brothers, Morgan Stanley and Goldman Sachs Group Inc. -- release their fiscal third-quarter results. On Monday, Bear Stearns fell $1.81 to $115.38; Lehman fell 88 cents to $58.62; Morgan Stanley fell $1.20 to $64.91; and Goldman fell $2.98 to $187.61.

Merrill fell $1.80, or 2.4 percent, to $72.85, after saying it was eliminating an undisclosed number of jobs.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

*Dow	13,651.27	+247.85	+1.85% at at 2:40 PM with 100 minutes to closing*
http://finance.yahoo.com/

http://biz.yahoo.com/ap/070918/fed_interest_rates.html?.v=14
*Fed Cuts Key Interest Rate*
Tuesday September 18, 2:39 pm ET
By Martin Crutsinger, AP Economics Writer
*Fed Cuts Key Interest Rate in Effort to Fend Off Recession*

WASHINGTON (AP) -- The Federal Reserve cut a key interest rate for the first time in four years, starting with an aggressive half-point move to prevent a steep housing slump and turbulent financial markets from triggering a recession. The action triggered a huge rally on Wall Street.

The Fed announced Tuesday that it was reducing its target for the federal funds rate, the interest that banks charge each other, from 5.25 percent to 4.75 percent.

The half-point reduction was double the quarter-point move that many had expected and sparked euphoria among investors, who had been worried that the central bank would be too slow in responding to recent market turmoil.


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by 335 points on Tuesday September 18:

Sym Last........ ........Change..........
Dow	13,739.39	+335.97	+2.51%
-- Day's Range:	13403.18 - 13739.96 & 52wk Range:	11,423.60 - 14,121.00
Nasdaq	2,651.66	+70.00	+2.71%
-- Day's Range:	2583.14 - 2651.66 & 52wk Range:	2,202.93 - 2,724.74
S&P 500	1,519.78	+43.13	+2.92%
-- Day's Range:	1476.63 - 1519.89 & 52wk Range:	1,310.94 - 1,555.90
30-yr Bond	4.7590%	+0.0450
NYSE Volume	3,708,936,000
Nasdaq Volume	2,154,371,000

In European trading, which ended before the Fed released its decision, Britain's FTSE 100 rose 1.63 percent, Germany's DAX index rose 1.27 percent and France's CAC-40 rose 2.02 percent.

In Asia, Japan's Nikkei index fell 2.02 percent and Hong Kong's Hang Seng Index fell 0.09 percent.

*Stocks Skyrocket After Big Rate Cut*
http://biz.yahoo.com/ap/070918/wall_street.html?.v=53
*Stocks Soar After Half-Point Rate Cut*
Tuesday September 18, 5:25 pm ET
By Madlen Read, AP Business Writer
*Stocks Soar After Fed's Bigger-Than-Expected Half-Point Cut in Interest Rates*

NEW YORK (AP) -- A jubilant Wall Street barreled higher Tuesday after the Federal Reserve cut its benchmark interest rate by a larger-than-expected half percentage point. The Dow Jones industrial average reacted by surging 335 points -- its biggest one-day point jump in nearly five years.

Although some investors hoped for a rate cut of that magnitude, most were betting on a smaller, quarter-point cut in the federal funds rate. The Fed responded to the spilling of credit market problems into the rest of the economy by saying, "the tightening of credit conditions has the potential to intensify the housing (market) correction and to restrain economic growth more generally."

The Fed lowered the benchmark fed funds rate to 4.75 percent after keeping it unchanged for more than a year and not lowering the rate since 2003. It also reduced the discount rate -- what it charges banks borrowing from its discount window -- by a half percentage point to 5.25 percent. On Aug. 17, the central bank lowered the discount rate by a half-point to help keep cash moving in the U.S. banking system.

The central bank's decision and the wording of its accompanying economic assessment gratified a market that plunged during August amid fears that credit market tightness, spawned by a continuum of mortgage defaults and delinquencies, would send the economy toward recession.

There was no direct signal in the Fed's statement that it would make further rate cuts. It said "some inflation risks remain" and that it will keep monitoring inflation developments. Still, it did not call inflation its "predominant policy concern" as it did after holding rates steady in early August.

"What it says to me is you had a major shift in the last couple of months from a Fed that was very concerned about inflation to one that is concerned about the health of the financial markets, the availability of liquidity," said Jerry Webman, chief economist at Oppenheimer Funds Inc.

The Dow soared 335.97, or 2.51 percent, to 13,739.39. The last time it rose more than 300 points in one session was Oct. 15, 2002, when it gained 378 points, and Tuesday's percent increase was the biggest since April 2, 2003. The blue-chip index is now only about 1.9 percent below its record close of 14,000.41, reached in mid-July.

The Standard & Poor's 500 index rose 43.13, or 2.92 percent, to 1,519.78. The Nasdaq composite index gained 70.00, or 2.71 percent, to 2,651.66. The S&P and the Nasdaq had their largest point gains since July 29, 2002.

Small-cap stocks, badly beaten during the market's summer turmoil, shot higher. The Russell 2000 index surged 30.82, or 3.97 percent, to 806.63, the largest percentage gain since July 29, 2002.

"People had been reducing their exposure to small-caps because they're viewed as a potential riskier asset class," said John Thornton, co-portfolio manager at Stephens Investment Management Group in Houston. Also, credit tightness had stirred investor concern about smaller companies' ability to access cash.

Shorter-term Treasury issues rose and longer-term bonds fell. The yield on the benchmark 10-year Treasury note finished at 4.47 percent, the same as late Monday.

Wall Street's reaction to the rate cut was clearly positive; the Dow's gain was the biggest rise immediately following a Fed decision since April 18, 2001, when the central bank surprised the market with an unannounced rate cut. But some analysts said the Fed's response to this summer's market tumult may eventually lead investors to worry more about how bad the current credit climate is, and how vulnerable the U.S. economy might be to it.

"The market's initial response is 'Thank you, Ben,' " Webman said. "But we also know that when people stop and look at this, people might say, 'Could this house of cards be shaky, more than even we thought it was?'"

Meanwhile, the dollar tumbled to a new all-time low against the euro after the rate cut, because lower rates make a currency a less attractive investment. Crude oil futures catapulted further into record terrain, rising 94 cents to $81.51 a barrel, and gold prices rallied to a multi-decade high.

These factors could add up to trouble for the consumer. Though the Fed tends to measure inflation after stripping out volatile food and energy prices, high commodity costs trickle down to average Americans and can dampen their spending power.

"If they were concerned about inflation before, they should be more concerned now," said Alexander Paris, economist and market analyst for Chicago-based Barrington Research. He called the half-point rate slash "overkill."

However, the mood was cheery on Wall Street, especially since the central bank's decision capped an already strong day that saw economic and corporate data come in better than expected.

Lehman Brothers Holdings Inc., the nation's fourth-largest investment bank, posted a smaller-than-anticipated 3 percent decline in its third-quarter profit compared with a year ago. Other investment banks are due to report later in the week on the most recent, tumultuous quarter.

Lehman rose $5.87, or 10 percent, to $64.49. The rest of the financial sector also soared.

Earlier Tuesday, the Labor Department's August producer price index was more favorable than the market predicted. Wholesale prices fell 1.4 percent last month, the biggest decline in 10 months. Core inflation, which eliminates food and energy prices, rose by a mild 0.2 percent, as expected.

Advancing issues outnumbered decliners by nearly 10 to 1 on the New York Stock Exchange, where volume came to 1.65 billion shares, up from 1.11 billion shares Monday.

In European trading, which ended before the Fed released its decision, Britain's FTSE 100 rose 1.63 percent, Germany's DAX index rose 1.27 percent and France's CAC-40 rose 2.02 percent.

In Asia, Japan's Nikkei index fell 2.02 percent and Hong Kong's Hang Seng Index fell 0.09 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by 76 points on Wednesday September 19:

Sym Last........ ........Change..........
Dow	13,815.56	+76.17	+0.55%
-- Day's Range:	13739.88 - 13867.50 & 52wk Range:	11,423.60 - 14,121.00
Nasdaq	2,666.48	+14.82	+0.56%
-- Day's Range:	2654.90 - 2683.02 & 52wk Range:	2,202.93 - 2,724.74
S&P 500	1,529.03	+9.25	+0.61%
-- Day's Range:	1519.75 - 1538.74 & 52wk Range:	1,310.94 - 1,555.90
30-yr Bond	4.82%	+0.06
NYSE Volume	3,305,395,000
Nasdaq Volume	2,183,625,000

European and Asian stocks surged following the Fed's rate cut. Britain's FTSE 100 finished up 2.81 percent, Germany's DAX index rose 2.32 percent, and France's CAC-40 rose 3.27 percent. Japan's Nikkei index closed up 3.67 percent and Hong Kong's Hang Seng Index rose 3.98 percent.

http://biz.yahoo.com/ap/070919/wall_street.html?.v=34
*Stocks End Higher Amid Rate Cut Momentum*
Wednesday September 19, 4:40 pm ET
By Tim Paradis, AP Business Writer
*Stocks End Higher, Building on Big Gains After Fed Rate Cut and a Mild Reading on Inflation*

NEW YORK (AP) -- Wall Street built on its gains Wednesday as investors bet that the cheaper money the Federal Reserve unleashed with its decision to cut interest rates will give a boost to corporate profits and the overall economy.

The rise in stocks for a second day reassured some investors that Tuesday's huge advance was based on somewhat solid footing and not simply a one-day pop. A mild reading of the Labor Department's August consumer price index, which slipped 0.1 percent, helped reassure investors about the Fed's decision to focus on the economy and set aside some of its concerns about inflation. Further, the Commerce Department's report that new home construction fell for the third month in a row in August confirmed that the housing market is still struggling.

Wall Street took comfort from the Fed's move to lower the target federal funds rate to 4.75 percent from 5.25 percent and were able to look past another rise in energy prices. Oil settled at a fresh record Wednesday.

According to preliminary calculations, the Dow Jones industrials rose 76.17, or 0.55 percent, to 13,815.56. While the Dow came off its highs of the session the move higher came a day after the 30-stock index climbed nearly 336 points -- its biggest one-day point gain in nearly five years.

Broader stock indicators also rose. The Standard & Poor's 500 index rose 9.25, or 0.61 percent, to 1,529.03. The Nasdaq composite index rose 14.82, or 0.56 percent, to 2,666.48.

The Russell 2000 index of smaller companies was the biggest advancer Wednesday as it had been the day before. The index rose 10.77, or 1.34 percent, to 817.40. Small-cap stocks had taken a hit in Wall Street's recent retrenchment as investors often regard bigger companies as better able to weather an economic downturn because of substantial overseas operations and an ability to perhaps skate by on thinner profit margins.

Bonds ended sharply lower as investors transferred more money from fixed income investments to stocks. The yield on the benchmark 10-year Treasury note rising to 4.52 percent from 4.47 percent at Tuesday's close.

Economic data supported a case for pushing stocks higher. The August consumer price index and the core CPI, which excludes often volatile food and energy prices, came in as expected. The core CPI advanced 0.2 percent.

And the Commerce Department reported that construction of new homes and apartments dipped last month by 2.6 percent to a seasonally adjusted annual rate of 1.331 million units, the slowest pace in 12 years.

In August, commodity prices fell along with stocks as investors drew their cash out of riskier assets and moved into safer government securities. However, crude oil prices are back at record highs, moving briefly above $82 per barrel. Light, sweet crude settled up 42 cents at $81.93 per barrel on the New York Mercantile Exchange. The record came a day after oil closed above $81 for the first time.

And in a trend that's likely to exacerbate the effects of high commodities prices on U.S. consumers, the dollar slumped to a new low against the euro Wednesday. The dollar was mixed against other major currencies, while gold prices rose, extending the strong gains it made Tuesday.

"I would have thought that based on prior pattern we wouldn't have seen this kind of follow through. The fact that we're continuing today is pretty encouraging," said Joe Vietri, vice president of active trading and investing at Charles Schwab & Co.

"The aggressive move -- I think people are applauding that. They're really trying to get ahead of this thing to make sure we don't slip into a recession," he said of the Fed. "Certainly this is going to have a positive impact on corporate profits."

However, he remains cautious. "I'm certainly not thinking that we're in a long-term bull market here."

But enthusiasm from Tuesday's rate cut extended in particular to industries related to financing. Mortgage lender Countrywide Financial Corp. rose 66 cents, or 3.3 percent, to $20.54 after its chief executive, Angelo Mozilo, late Tuesday issued a positive forecast for his company.

Morgan Stanley fell $1.48 to $67.03 after the No. 2 U.S. investment bank said its third-quarter profit sank 17 percent as it was forced to write down nearly $1 billion in loans following the summer's global credit upheaval.

Advancing issues outnumbered decliners by about 2 to 1 on the New York Stock Exchange, where volume came to 1.67 billion shares compared with 1.65 billion shares traded Tuesday.

European and Asian stocks surged following the Fed's rate cut. Britain's FTSE 100 finished up 2.81 percent, Germany's DAX index rose 2.32 percent, and France's CAC-40 rose 3.27 percent. Japan's Nikkei index closed up 3.67 percent and Hong Kong's Hang Seng Index rose 3.98 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by 48 points on Thursday September 20:

Sym Last........ ........Change..........
Dow	13,766.70	-48.86	-0.35%
-- Day's Range:	13741.01 - 13822.14 & 52wk Range:	11,423.60 - 14,121.00
Nasdaq	2,654.29	-12.19	-0.46%
-- Day's Range:	2648.07 - 2669.43 & 52wk Range:	2,210.13 - 2,724.74
S&P 500	1,518.75	-10.28	-0.67%
-- Day's Range:	1516.42 - 1529.14 & 52wk Range:	1,310.94 - 1,555.90
30-yr Bond	4.9440%	+0.1200
NYSE Volume	2,923,753,000
Nasdaq Volume	1,788,223,000

In European trading, Britain's FTSE 100 fell 0.48 percent, Germany's DAX index fell 0.20 percent, and France's CAC-40 fell 0.73 percent.

In Asia, Japan's Nikkei index rose 0.20 percent and Hong Kong's Hang Seng Index rose 0.57 percent.

http://biz.yahoo.com/ap/070920/wall_street.html?.v=36
*Stocks Fall After Mixed Earnings*
Thursday September 20, 4:34 pm ET
By Madlen Read, AP Business Writer
*Stocks Decline After Mixed Earnings Reports, Rate Cut Giddiness Settles Down*

NEW YORK (AP) -- Stocks retreated Thursday as Wall Street took a breather from this week's recent rally, sobered a bit by mixed earnings reports, a tumbling dollar and surging oil prices.

Wall Street had driven the Dow Jones industrials up more than 400 points in the two days following the Fed's half-point rate reduction, so it was to be expected that investors would eventually stop to cash in gains.

So when a few major companies, particularly Bear Stearns & Cos. and Circuit City, posted wider-than-expected drops in third-quarter profit Thursday, Wall Street's giddiness following the Fed's rate cut waned, and nervousness resurfaced about how long it might take for the economy and corporate America to rebound from the recent market turmoil.

"Historically, after the Fed eases, the market takes about a month to figure out whether the easing was a good thing or a bad thing," said Brian Gendreau, investment strategist for ING Investment Management.

Although the credit markets are improving, investors remain worried about the economy dipping into recession and unsure of where to put their money, Gendreau said. "Now that the crisis is abating, the question is, what are we going to do next?"

Wall Street did get some good news Thursday. The Labor Department said jobless claims declined by 9,000 last week, despite August's decrease in payrolls, and Goldman Sachs Group Inc. reported a surprisingly large 79 percent profit rise in the third quarter. In August, stocks plunged and credit markets tightened up due largely to housing market troubles.

But Bear Stearns & Cos. didn't weather the market turmoil as well, and suffered a larger-than-anticipated 62 percent profit drop. Electronics retailer Circuit City Stores Inc. also posted a big quarterly loss that troubled Wall Street, sending its shares tumbling. Meanwhile, the euro fell to another record low against the euro and crude oil prices surged to a new all-time high above $83 a barrel.

According to preliminary calculations, the Dow slipped 48.86, or 0.35 percent, to 13,766.70.

Broader stock indexes also declined. The Standard & Poor's 500 index fell 10.28, or 0.67 percent, to 1,518.75, and the technology-dominated Nasdaq composite index fell 12.19, or 0.46 percent, to 2,654.29.

The Russell 2000 index of smaller companies fell 7.64, or 0.93 percent, to 809.76.

Declining issues outnumbered advancers by about 8 to 3 on the New York Stock Exchange, where volume came to 1.27 billion shares, down from 1.67 billion on Wednesday.

Bonds plummeted, pushing the yield on the benchmark 10-year Treasury note up to 4.67 percent from 4.52 percent late Wednesday. Prices fell due to concerns that U.S. rate cuts will spur inflation and that the falling dollar might cause Saudi Arabia to unload their Treasury holdings.

Like its earnings data, Thursday's economic reports were mixed. The Conference Board said its August index of leading economic indicators declined, but the Philadelphia Fed reported a solid rebound in its region's manufacturing in September.

Meanwhile, Fed Chairman Ben Bernanke's testimony Thursday about the mortgage and credit markets before the House Financial Services Committee offered few hints about the central bank's next move. Bernanke said the credit crisis has created "significant market stress" and reassured the market that regulators are willing to step in to curb the fallout.

Wall Street is split over what the Fed will do when it meets again in October. Many predict a quarter-point rate decrease, but others expect the target fed funds rate to hold at 4.75 percent.

The main reason the central bank may be against another rate cut is the risk of inflation. Core inflation, which strips out food and energy prices, has been stable in recent months, but could accelerate if the effects of high food and energy prices trickle down to other consumer prices.

"The one thing we're going to be susceptible to is data shocks, especially on the inflation front," said Doug Roberts, chief investment strategist for Channel Capital Research.

Crude oil prices rose further into record territory on the New York Mercantile Exchange to settle at $83.32 a barrel. Gold also extended its recent streak.

Meanwhile, the euro surpassed $1.40 for the first time since the 13-nation currency was introduced in 1999. A weak dollar is a double-edged sword for the U.S. economy -- it makes imports more expensive, but it makes U.S. exports cheaper, and thus more attractive, to foreign buyers.

Circuit City plunged $1.90, or 18 percent, to $8.67 after its weak earnings, and Goldman dipped $1.97 to $203.53 despite its strong profit.

Bear Stearns shares fell 18 cents to $115.46. Bear Stearns' stock has been battered in recent months. Over the summer, two of its hedge funds that bet on mortgage debt went bankrupt, and the news led to a selloff in its own stock and throughout the industry.

In deal-making news, Nasdaq Stock Market Inc. and Borse Dubai announced that Nasdaq will take over Nordic bourse operator OMX AB, while Borse Dubai will buy about 20 percent of Nasdaq and 28 percent of the London stock exchange. Nasdaq rose 49 cents to $36.51.

In European trading, Britain's FTSE 100 fell 0.48 percent, Germany's DAX index fell 0.20 percent, and France's CAC-40 fell 0.73 percent.

In Asia, Japan's Nikkei index rose 0.20 percent and Hong Kong's Hang Seng Index rose 0.57 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by 53 points on Friday September 21:

Sym Last........ ........Change..........
Dow	13,820.19	+53.49	+0.39%
-- Day's Range:	13768.25 - 13877.17 & 52wk Range:	11,423.60 - 14,121.00
Nasdaq	2,671.22	+16.93	+0.64%
-- Day's Range:	2666.32 - 2678.69 & 52wk Range:	2,210.13 - 2,724.74
S&P 500	1,525.75	+7.00	+0.46%
-- Day's Range:	1518.75 - 1530.89 & 52wk Range:	1,310.94 - 1,555.90 
30-yr Bond	4.8910%	-0.0530
NYSE Volume	3,682,163,000
Nasdaq Volume	2,395,764,000

In trading abroad, Britain's FTSE 100 finished up 0.43 percent, Germany's DAX index rose 0.77 percent, and France's CAC-40 rose 0.21 percent. 

In Asia, Japan's Nikkei index closed down 0.62 percent and Hong Kong's Hang Seng Index rose 0.56 percent.

http://biz.yahoo.com/ap/070921/wall_street.html?.v=31
*Stocks End Higher After Oracle Earnings*
Friday September 21, 8:52 pm ET
By Tim Paradis, AP Business Writer
*Stocks Finish Higher Following Strong Oracle Earnings; 'Triple Witching' Adds to Volume*

NEW YORK (AP) -- Stocks rose soundly Friday, capping a strong week for Wall Street, as investors drew confidence from strong results at Oracle Corp. and a continued sense that lower interest rates should help bolster the economy.

Oracle's report that quarterly profits rose 25 percent as sales grew at their fastest pace in seven years offered fresh evidence that some sectors of the economy continue to hum along even as areas such as housing cause consternation for many investors.

Wall Street found renewed optimism this week after the Federal Reserve lowered interest rates a larger-than-expected one-half percentage point Tuesday. The central bank also lowered the rate it charges to lend directly to banks by the same amount.

"As much as we often underestimate the depth of our problems it's also natural for us to underestimate the depth and robustness of our economy. There are many industry segments that are very healthy," said Robert Brown, chief investment officer at Genworth Financial Asset Management, pointing to stronger-than-expected earnings reports. He contended while Wall Street's exuberance over the Fed's rate cuts is understandable, some investors are blithely looking past some of the concerns the economy faces.

The Dow Jones industrial average rose 53.49, or 0.39 percent, to 13,820.19.

Broader stock indicators also rose. The Standard & Poor's 500 index advanced 7.00, or 0.46 percent, to 1,525.75, while the Nasdaq composite index rose 16.93, or 0.64 percent, to 2,671.22.

For the week, the Dow was up 2.8 percent, while the S&P 500 index added 2.8 percent. It was the strongest weekly showing for the indexes since March. Nasdaq rose 2.7 percent, its best weekly gain since last month.

Friday's session brought "triple-witching," a once-a-quarter occurrence when investors face simultaneous expiration of contracts for stock index futures, index options and stock options. Such days often bring higher-than-normal volume as investors jockey for new positions, although analysts noted Friday's volume wasn't as heavy as might have been expected.

Advancing issues outnumbered decliners about 2 to 1 on the New York Stock Exchange, where consolidated volume came to 3.67 billion shares, compared with 2.96 billion shares traded Thursday.

Bonds rose, with the yield on the benchmark 10-year Treasury note falling to 4.63 percent from Thursday's close of 4.69 percent. Treasurys had sold off in recent sessions amid concerns about the possibility of increasing inflation and the prospect of Saudi Arabia lightening its U.S. government holdings. The gains on Wall Street have also drained some money out of the bond market.

Brown contends the stock and bond markets have diverged and that the equity market is regarding the Fed's rate cut as providing adequate liquidity to propel stocks to new highs.

"These rates cuts are not turning bad debt into good debt. And this rate cut is not changing the housing debacle's impact on slowing economic growth. There is no question that the effect is potent, that we will incur significantly slower economic growth and the probability of a recession is now great. Their actions are honestly not having any impact on that probability," he said of the Fed.

Noman Ali, portfolio manager with MFC Global Investment Management, said Friday's advance in part reflected a renewed sense of enthusiasm from the Fed's rate cuts. He said Wall Street was relieved, too, that some of the major brokerages reporting results this week didn't fare worse during the quarter given the recent upheaval in the credit markets.

Ali also said inflation readings during the week, such as the consumer price index, didn't show unnerving increases in prices.

"We expect another rate cut in October because inflation is still not an issue," he said, noting the economy seemed to be absorbing higher food prices and oil prices at record levels.

Crude oil futures for November delivery fell 16 cents to settle at $81.61 per barrel on the New York Mercantile Exchange. On Thursday, the October contract, now expired, closed at an all-time high above $83 a barrel.

Ali noted investors next week will be looking for profit forecasts as it is the final week of the quarter.

Gold prices rose Friday, while the dollar bounced back after hitting another record low against the euro, which surpassed $1.41 for the first time. The dollar slumped against other major currencies.

With no major economic reports, Wall Street looked to corporate news.

Oracle rose 93 cents, or 4.4 percent, to $21.98 following its earnings report.

Harman International Industries Inc. closed down $27.25, or 24 percent, at $85 after the maker of upscale audio equipment confirmed reports that two private equity firms backed out of an $8 billion buyout deal to acquire the company.

Meanwhile, cosmetics maker Estee Lauder Cos. advanced $1.95, or 4.8 percent, to $42.58 amid takeover rumors. And Joy Global Inc. rose 91 cents to $49.59 after the mining equipment company affirmed its full-year earnings and revenue forecasts.

The Russell 2000 index of smaller companies rose 3.35, or 0.41 percent, to 813.11.

In trading abroad, Britain's FTSE 100 finished up 0.43 percent, Germany's DAX index rose 0.77 percent, and France's CAC-40 rose 0.21 percent. In Asia, Japan's Nikkei index closed down 0.62 percent and Hong Kong's Hang Seng Index rose 0.56 percent.

The Dow Jones industrial average ended the week up 377.67, or 2.81 percent, at 13,820.19. The Standard & Poor's 500 index finished up 41.50, or 2.80 percent, at 1,525.75. The Nasdaq composite index ended up 69.04, or 2.65 percent, at 2,671.22.

The Russell 2000 index finished the week up 37.30, or 2.80 percent, at 813.11.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 15,338.93, up 411.33, or 2.76 percent, for the week. A year ago, the index was at 13,186.04.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## vishalt

Our futures are up 0.3%, should be a decent day in the markets imo, Rio has been smashing past its all time highs in the US & UK and I antcipate the same in Aus. 

If not I just buy more lol!


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by 61 points on Monday September 24:

Sym Last........ ........Change..........
Dow	13,759.06	-61.13	-0.44%
-- Day's Range:	13750.93 - 13874.41 & 52wk Range:	11,423.60 - 14,121.00
Nasdaq	2,667.95	-3.27	-0.12%
-- Day's Range:	2660.52 - 2692.16 & 52wk Range:	2,210.13 - 2,724.74
S&P 500	1,517.73	-8.02	-0.53%
-- Day's Range:	1516.15 - 1530.18 & 52wk Range:	1,310.94 - 1,555.90
30-yr Bond	4.8770%	-0.0140
NYSE Volume	3,131,313,000
Nasdaq Volume	1,924,463,000

In European trading,
Britain's FTSE 100 rose 0.14 percent, Germany's DAX index fell 0.08 percent, and France's CAC-40 shed 0.14 percent. 

In Asia, Hong Kong's Hang Seng Index rose 2.74 percent. Japan's market was closed for a holiday.

*Super gains as resource shares soar*
http://www.theage.com.au/news/busin...rce-shares-soar/2007/09/24/1190486224929.html
Marc Moncrief and Vanessa Burrow
September 25, 2007

AUSTRALIAN shares have returned to record highs after last month's bronco ride, and superannuation funds are back to counting gains.

The S&P/ASX 200 Index, the most-watched index of Australian shares, climbed 1.5 per cent to 6451.5 points yesterday as the price of resource stocks ballooned.

The market raced past its July 24 record close of 6422.3 points, a milestone reached just days before credit troubles in the US hit Australian shares.


http://biz.yahoo.com/ap/070924/wall_street.html?.v=20
*Stocks Give Up Early Gains to End Lower*
Monday September 24, 6:24 pm ET
By Joe Bel Bruno, AP Business Writer
*Stocks Finish Lower As Wall Street Gives Up Early Gains Amid Concerns About Credit*

NEW YORK (AP) -- Wall Street retreated Monday, taking a break from last week's big advances, as financial stocks fell amid fresh concerns about tightness in the credit markets. With little fresh data to go on Monday, investor enthusiasm weakened by midsession. Sectors from banks to homebuilders showed declines, while technology stocks fared better.

Investors worried that the credit markets might not loosen up despite last week's half-point rate cut by the Federal Reserve. Stocks began to give up their gains after the International Monetary Fund warned the credit upheaval hurting international financial markets would likely be "protracted" and dampen growth of the global economy. The financial sector also weakened after Reuters reported that Deutsche Bank might have to write down a portion of its loan portfolio.

While its stock didn't fall sharply, General Motors Corp. shares lost ground after the United Auto Workers began its first nationwide strike during auto contract negotiations since 1976.

In addition, the stock market's pullback might have been expected following gains last week of more than 2.5 percent in the major stock market averages.

"I think you're seeing some profit taking after last week's rally," said Scott Fullman, director of investment strategy at Israel A. Englander & Co. "You have consumer confidence that is something being closely watched, and you're seeing a general end of quarter nervousness."

The Dow Jones industrials fell 61.13, or 0.44 percent, to 13,759.06.

Broader indicators fell, with the Standard & Poor's 500 index declining 8.02, or 0.53 percent, to 1,517.73, while the Nasdaq composite index lost 3.27, or 0.12 percent, to 2,667.95.

Bonds edged higher, with the yield on the benchmark 10-year Treasury note falling to 4.62 percent from 4.63 percent late Friday. Treasury prices have fallen since last week's rate cut as investors moved back into stocks.

The dollar fell against major currencies, hitting a fresh low against the euro, and gold prices rose.

Oil prices fell as a tropical depression in the Gulf of Mexico dissipated without causing damage to key oil and gas infrastructure. A barrel of light, sweet crude settled down 67 cents at $80.95 on the New York Mercantile Exchange.

There were no major economic reports Monday. However, Dallas Fed President Richard Fisher said a downturn in inflation gives policy makers "some wiggle room" to further cut interest rates. Fed Chairman Ben Bernanke gave a speech on education but did not touch upon economic issues.

Economic data expected to roll out this week could give investors a better sense of whether to expect more of the interest rate cuts that touched off last week's rally. Findings due Tuesday include reports on existing home sales for August and the Richmond Fed's regional survey. Many investors hope readings on durable goods and consumer spending later this week will give the Fed room to cut rates still further when it meets next month.

Among financial stocks, Citigroup Inc. fell 92 cents to $46.59 while JPMorgan Chase & Co. declined 79 cents to $46.34 following the IMF concerns about prolonged tightness in the credit markets and its contention that regulators should tighten their oversight of financial institutions to reign in some of the newer debt products that have in part allowed easy access to credit in recent years.

Housing stocks fell sharply ahead of the data on existing home sales and a report on quarterly results from Lennar Corp. Lennar fell $1.14, or 4.5 percent, to $24.18, while Pulte Homes Inc. ended down $1.06, or 6.6 percent, to $15.10, and D.R. Horton Inc. fell 54 cents, or 3.8 percent, to $13.56.

In corporate news, GM fell 20 cents to $34.74 after thousands of UAW workers walked off the job as negotiations between the union and the automaker remained stymied -- mainly over the issue of job security.

Ford Motor Co. shares rose 25 cents, or 3 percent, to $8.48 after Chief Executive Alan Mullaly said the automaker is in talks with potential buyers of the company's Jaguar and Land Rover brands. The company also began operations of its newest joint-venture factory in China, where it will produce both the Ford and Mazda brands.

Dell Inc. rose 11 cents to $27.87 after it announced it would set up a retail presence in China by selling computers through the country's biggest chain of electronics stores. The deal extends Dell's strategy of expanding beyond its traditional Internet-and-phone sales model into retail to better compete with rivals.

The Russell 2000 index of smaller companies fell 7.31, or 0.90 percent, 805.80.

Declining issues beat out advancers 5-to-3 on the New York Stock Exchange. Consolidated volume came to 3.12 billion shares, down from 3.67 billion shares Friday.

In European trading, Britain's FTSE 100 rose 0.14 percent, Germany's DAX index fell 0.08 percent, and France's CAC-40 shed 0.14 percent. In Asia, Hong Kong's Hang Seng Index rose 2.74 percent. Japan's market was closed for a holiday.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by 19 points on Tuesday September 25:

Sym Last........ ........Change..........
Dow	13,778.65	+19.59	+0.14%
-- Day's Range:	13696.31 - 13787.19
-- 52wk Range:	11,486.00 - 14,121.00
Nasdaq	2,683.45	+15.50	+0.58%
-- Day's Range:	2656.33 - 2683.92
-- 52wk Range:	2,212.02 - 2,724.74
S&P 500	1,517.21	-0.52	-0.03%
-- Day's Range:	1507.13 - 1518.27
-- 52wk Range:	1,311.58 - 1,555.90
30-yr Bond	4.8860%	+0.0090
NYSE Volume	3,146,378,000
Nasdaq Volume	1,921,804,000

*In European trading,*
Britain's FTSE 100 closed down 1.07 percent, Germany's DAX index fell 0.24 percent, and France's CAC-40 finished down 0.89 percent. 

*In Asia,*
Japan's Nikkei index rose 0.55 percent and Hong Kong's Hang Seng Index fell 0.46 percent.

*Index topples Monday's record as its metals-powered rise continues*
http://www.theage.com.au/news/busin...s/2007/09/25/1190486309812.html?page=fullpage
Vanessa Burrow
September 26, 2007

THE sharemarket has more than recovered its losses from the plunge that began in late July. And the key has been high metals prices, the projected prices of bulk commodities such as iron ore and coal — and a dash of confidence.

The S&P/ASX 200 yesterday reached a record for a second day in a row, and even briefly topped the 6500-point mark. By the end of trade it was up 31.5 points, or 0.5 per cent, at 6483.

http://biz.yahoo.com/ap/070925/wall_street.html?.v=26
*Stocks End Mixed After Profit Warnings*
Tuesday September 25, 5:22 pm ET
By Joe Bel Bruno, AP Business Writer
*Stocks Finish Mixed With Tech Stocks Gaining As Investors Weigh Strength of Economy*

NEW YORK (AP) -- Stocks ended mixed Tuesday as investors grappled with concerns about consumer spending in some parts of the economy while technology stocks showed broad gains.

Stocks pared losses from early in the session to trade largely flat when investors tried to balance concerns about weakness in the economy with hopes that lackluster indications about the health of the consumer and the housing market could bolster the case for lower interest rates. Meanwhile, falling energy prices appeared to lend some support to stocks.

Traders weighed a series of negative reports from companies whose fortunes are tied to the health of the consumer. Retailers Target Corp. and Lowe's Cos. trimmed their expectations for the year because of slowing sales, while homebuilder Lennar Corp. posted a fiscal third-quarter loss and sharply lower revenues.

The latest economic reports offered fresh evidence that consumer sentiment is taking a hit amid the worst housing slump in more than a decade.

In the reports, the Conference Board said its Consumer Confidence Index for September fell to its lowest level in almost two years and the National Association of Realtors reported sales of existing homes fell for a sixth straight month in August to the lowest point in five years.

"There are still some mental factors at play. The market has leaped substantially off the recent lows," said Steven Goldman, chief market strategist for Weeden & Co. "We're consolidating ahead of a seasonally strong time, and there are still lingering concerns about the economy."

The Dow Jones industrial average rose 19.59, or 0.14 percent, to 13,778.65.

Broader stock indicators were mixed. The Standard & Poor's 500 slipped 0.52, or 0.03 percent, to 1,517.21, while the Nasdaq composite rose 15.50, or 0.58 percent, to 2,583.45.

The Russell 2000 index of smaller companies fell 2.80, or 0.35 percent, to 803.00.

Bonds prices rose, with the yield on the benchmark 10-year note falling to 4.61 percent from 4.62 percent late Monday. The dollar resumed its decline against the euro -- the fourth session in which it hit record lows. Meanwhile, gold edged lower after a recent run-up.

A barrel of light, sweet crude fell $1.42 to $79.53 on the New York Mercantile Exchange. It was the first time in more than a week that oil closed below $80 per barrel; last week oil neared $84 a barrel.

The markets moves followed mostly negative economic news. Not all findings were bad, however. The Federal Reserve Bank of Richmond, which serves the District of Columbia, Maryland, Virginia, North Carolina, South Carolina and most of West Virginia, said economic growth picked up in September. Its manufacturing index for the month came in at 14, double the August reading of 7. A positive figure indicates growth, while negative figures denote a shrinking economy.

These reports take on even more significance as Wall Street speculates about what the Federal Reserve's next move will be after last week's half-point interest rate cut. Data that show the economy is continuing to slow could bolster the case for further cuts when the Fed meets next month.

Lennar shares fell 96 cents, or 4 percent, to $23.22 after it posted a loss of $513.9 million for its fiscal third quarter as the company saw sharply lower revenue from falling home prices and booked hefty charges to write down land values.

Target and Lowe's cut their sales forecasts for the year because of uncertainty about the upcoming holiday shopping season. Target fell $2.95, or 4.6 percent, to $61.35, while Lowe's declined $2.04, or 6.7 percent, to $28.51.

Some investors appeared to regard technology stocks as less at risk of seeing demand for their products slump should the economy falter. Apple Inc. rose to another record, while Research in Motion Ltd. hit a 52-week high. Apple traded as high as $153.22, topping its earlier trading high of $149.85, and finished up $4.90, or 3.3 percent, to $153.18. Research in Motion, meanwhile, rose to $96.85 -- above its previous 52-week high of $96.35 -- and closed at $96.82, a gain of $2.32, or 2.5 percent.

Declining issues outnumbered advancers by about 3 to 2 on the New York Stock Exchange, where volume came to 1.33 billion shares compared with 1.35 billion shares traded Monday.

In European trading, Britain's FTSE 100 closed down 1.07 percent, Germany's DAX index fell 0.24 percent, and France's CAC-40 finished down 0.89 percent. In Asia, Japan's Nikkei index rose 0.55 percent and Hong Kong's Hang Seng Index fell 0.46 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by 99 points on Wednesday September 26:

Sym Last........ ........Change..........
Dow	13,878.15	+99.50	+0.72%
-- Day's Range:	13779.30 - 13915.79 approaching 52 week high!
-- 52wk Range:	11,517.50 - 14,121.00
Nasdaq	2,699.03	+15.58	+0.58%
-- Day's Range:	2689.59 - 2709.23
-- 52wk Range:	2,224.21 - 2,724.74
S&P 500	1,525.42	+8.21	+0.54%
-- Day's Range:	1518.62 - 1529.39
-- 52wk Range:	1,325.30 - 1,555.90
30-yr Bond	4.8930%	+0.0070
NYSE Volume	3,146,845,000
Nasdaq Volume	2,073,180,000

Overseas, Britain's FTSE 100 closed up 0.56 percent, Germany's DAX index rose 0.45 percent, and France's CAC-40 rose 0.87 percent. In Asia, Japan's Nikkei index closed up 0.21 percent and Hong Kong's Hang Seng Index fell 0.46 percent.

http://biz.yahoo.com/ap/070926/wall_street.html?.v=30
*Stocks Rise on Good Corporate News*
Wednesday September 26, 4:59 pm ET
By Tim Paradis, AP Business Writer
*Wall Street Rises Following GM Pact With UAW, Report of Stake in Bear Stearns*

NEW YORK (AP) -- Stocks rose soundly Wednesday following word that some of the problems dogging big companies like General Motors Corp. and Bear Stearns Cos. could be on the mend.

GM, one of the 30 stocks that makes up the Dow Jones industrial average, led the market higher from the outset Wednesday with word it had struck a tentative contract agreement with the United Auto Workers that could allow the company to shed some of its burdensome health care costs.

While stocks held onto gains throughout the session, rumors that Bear Stearns Cos. would sell a stake in the company took on new urgency in the final hour of the session with a report that billionaire investor Warren Buffett was a potential suitor.

Wall Street shrugged off broader economic news from the Commerce Department, which said demand for durable goods fell in August by the largest amount in seven months. The findings could indicate that recent upheaval in the credit and stock markets as well as the housing sector dented the economy.

The report followed data released Tuesday showing that existing home sales stalled in August and consumer confidence fell in September.

However, Wall Street often regards such readings as good news because it could pressure the Federal Reserve to lower interest rates again when it meets next month. The central bank last week surprised Wall Street with a larger-than-expected half-point cut in rates -- its first in four years -- and sent stocks surging.

According to preliminary calculations, the Dow Jones industrial average rose 99.50, or 0.72 percent, to 13,878.15.

Broader stock indicators also rose. The Standard & Poor's 500 index advanced 8.21, or 0.54 percent, to 1,525.42, and the Nasdaq composite index increased 15.58, or 0.58 percent, to 2,699.03.

The Russell 2000 index of smaller companies rose 6.12, or 0.76 percent, to 809.12.

Treasury prices turned higher Wednesday after there was surprisingly strong investor demand in a government sale of $18 billion in new 2-year Treasurys. The yield on the benchmark 10-year Treasury note fell to 4.62 percent from 4.64 percent at Tuesday's close. Prices and yields move in opposite directions.

The dollar recovered slightly against major currencies Wednesday despite lackluster economic data, but not before hitting another record low against the euro. Gold prices fell.

Oil futures ended higher Wednesday, closing above $80 a barrel as a turbulent day ended with a late rally led by investors who saw an early price dip as a buying opportunity.

In addition to corporate and economic news, some of the session's gains could owe to the approaching end of the quarter.

"I do think what you're seeing here is because we had such a big turnaround from August into September, the quarter is ending on a positive note. As you get closer to the end in the next couple of days, you could get some window dressing," said Marc Pado, U.S. market strategist at Cantor Fitzgerald, referring to some investors' plans to buy stocks to shore up their end-of-the-quarter holdings.

In corporate news, GM jumped $3.22, or 9.4 percent, to $37.64 after workers agreed to return to their jobs after a two-day nationwide strike. GM was by far the biggest advancer among the Dow stocks. The deal would allow GM to shed some of its costs and have the union oversee management of retiree health care.

Bear Stearns, which had been higher through the session amid rumors it would sell off a piece of the company. The nation's fifth-largest investment bank doubled its gains after The New York Times reported Buffett, among others, had shown interest in a minority stake in the company. The stock finished up $8.76, or 7.7 percent, at $123.

In other corporate news, technology stocks showed gains Wednesday after Red Hat Inc., a maker of open-source software, reported its fiscal second-quarter profit rose sharply and that its revenue came in ahead of Wall Street's expectations. Red Hat advanced $1, or 5.3 percent, to $19.89.

Tech stocks have done well in recent sessions in part based on the notion that a slowing economy and even a retrenchment in consumer spending could spare some technology companies and consumer technology names, said Pado.

"My expectation is that they are going to buy fewer things but maybe at greater cost," he said, referring to consumers looking at technology for the coming holiday season.

Advancing issues outnumbered decliners by more than 2 to 1 on the New York Stock Exchange, where volume came to 1.29 billion shares compared with 1.33 billion shares traded Tuesday.

Overseas, Britain's FTSE 100 closed up 0.56 percent, Germany's DAX index rose 0.45 percent, and France's CAC-40 rose 0.87 percent. In Asia, Japan's Nikkei index closed up 0.21 percent and Hong Kong's Hang Seng Index fell 0.46 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by 34 points on Thursday September 27:

Sym Last........ ........Change..........
Dow	13,912.94	+34.79	+0.25%
-- Day's Range:	13868.15 - 13920.42
-- 52wk Range:	11,595.80 - 14,121.00
Nasdaq	2,709.59	+10.56	+0.39%
-- Day's Range:	2702.02 - 2712.79
-- 52wk Range:	2,224.21 - 2,724.74
S&P 500	1,531.38	+5.96	+0.39%
-- Day's Range:	1525.81 - 1532.46
-- 52wk Range:	1,327.10 - 1,555.90
30-yr Bond	4.8370%	-0.0560
NYSE Volume	2,872,178,000
Nasdaq Volume	1,789,295,000

In European trading, Britain's FTSE 100 closed up 0.83 percent, Germany's DAX index rose 0.64 percent, and France's CAC-40 rose 0.75 percent. 

In Asia, Japan's Nikkei index and Hong Kong's Hang Seng Index each closed up 2.4 percent.

http://biz.yahoo.com/ap/070927/wall_street.html?.v=22
Stocks Rise After Mixed Economic Data
Thursday September 27, 5:48 pm ET
By Tim Paradis, AP Business Writer
Stocks Extend Gains Following Mixed Economic Data, Spiking Oil; New Home Sales Fall Sharply

NEW YORK (AP) -- Stocks extended their gains Thursday with a moderate advance as investors weighed fresh economic data, including a sharp drop in new home sales, for clues to whether more interest rate cuts are in the offing.

The Commerce Department's report that sales of new homes plunged 8.3 percent in August to the lowest level in seven years was the latest round of bad news for the housing sector, but its arrival didn't spook investors. Instead, stocks built on the sizable gains logged Wednesday.

While concerns that housing market ills could drag the broader economy into a recession have bubbled up in recent months, the Federal Reserve's larger-than-expected interest rate cut last week appears to have left investors hopeful that cheaper capital would help stave off a broad slowdown.

And with the final trading day of the quarter arriving Friday, some investors likely engaged in buying and selling designed to spruce up their portfolios.

"You have positioning for the family photo," said Erik Davidson, senior director of investments at Wells Fargo Private Bank. He noted that as investors go about the usual business of shoring up their positions for the end of the quarter some have been surprised by the absence of further bad news about tightness in the credit markets or about investments soured by bad mortgages.

"It's almost a return to normalcy. This is a bit of a relief rally, and the bad things that people are afraid of aren't really happening," he said of gains in recent sessions.

The Dow Jones industrial average rose 34.79, or 0.25 percent, to 13,912.94. The Dow now sits only about 87 points below its record close of 14,000.41 set July 19.

Broader indexes also advanced. The Standard & Poor's 500 index rose 5.96, or 0.39 percent, to 1,531.38, and the technology-heavy Nasdaq composite index rose 10.56, or 0.39 percent, to 2,709.59.

The Russell 2000 index of smaller companies rose 4.89, or 0.60 percent, to 814.01.

Bond prices rose, pushing the yield on the benchmark 10-year Treasury down to 4.57 percent from 4.62 percent at Wednesday's close. Bond prices and yields move in opposite directions.

The dollar was mixed against other major currencies, while gold prices edged higher.

Crude oil prices rose as a tropical depression near Mexico raised concerns about possible disruptions to oil and gas production. A barrel of light sweet crude jumped $2.58 to settle at $82.88 per barrel on the New York Mercantile Exchange.

Dave Hinnenkamp, chief executive KDV Wealth Management in Minneapolis, said that with the Dow not far off its highs, some investors appear to be growing more confident.

"A lot of it has to do with people sitting on the sideline with some cash when the market was coming down," he said. "And now that they've seen it bounce up, I think some of it has to do with people diving back into the market not wanting to miss the rally."

Wall Street saw a relatively calm session despite some potentially unnerving economic news, including a report that the U.S. economy proved a little softer during the second quarter than had been estimated. The Commerce Department said gross domestic product expanded at a 3.8 percent annual rate in the second quarter -- less than the previously reported 4 percent increase.

However, there was some strong news about the nation's labor force Thursday. Jobless claims fell 15,000 to 298,000 in the week ended Sept. 22 -- the lowest level since May and an indication the labor market remains solid. A strong job market is important to Wall Street, which is counting on continued strength in consumer spending to drive the economy.

The reports followed others issued this week that suggested the economy faces obstacles, which could persuade policymakers to lower rates further when they meet at the end of next month. Lower rates make cash cheaper to borrow, so they tend to fuel spending and merger-and-acquisition activity.

"The fact that the Fed has cut a half point, I think it shows that they are willing to act. That is one of the most important things in that it gives the investor community reason to act," said Hinnenkamp. "I think one of the more important factors with regard to where we go from here is the upcoming earnings season."

A continuation of recent investor optimism appeared to help Wall Street shrug off some of the housing news. KB Home said it expects the housing industry will continue to suffer through next year. However, the home builder posted a narrower-than-expected loss for its fiscal third quarter, sending the stock up 62 cents, or 2.6 percent, to $24.71.

In other corporate news, Sallie Mae, the nation's largest student lender officially known as SLM Corp., rose $4.11, or 9.1 percent, to $49.12 after a group of investors that planned to acquire the company said it wanted out of the deal, leading to speculation that the lender might be able to fetch new terms for a buyout.

Advancing issues outnumbered decliners by more than 2 to 1 on the New York Stock Exchange. Consolidated volume came to 2.85 billion shares, down from 3.16 billion shares traded Wednesday.

In European trading, Britain's FTSE 100 closed up 0.83 percent, Germany's DAX index rose 0.64 percent, and France's CAC-40 rose 0.75 percent. In Asia, Japan's Nikkei index and Hong Kong's Hang Seng Index each closed up 2.4 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by 17 points on Friday September 28:

Sym Last........ ........Change..........
Dow	13,895.63	-17.31	-0.12%
-- Day's Range:	13850.27 - 13924.81
-- 52wk Range:	11,608.20 - 14,121.00
Nasdaq	2,701.50	-8.09	-0.30%
-- Day's Range:	2692.02 - 2716.75
-- 52wk Range:	2,224.21 - 2,724.74
S&P 500	1,526.75	-4.63	-0.30%
-- Day's Range:	1521.99 - 1533.74
-- 52wk Range:	1,327.10 - 1,555.90
30-yr Bond	4.8330%	-0.0040
NYSE Volume	2,876,308,000
Nasdaq Volume	1,928,789,000

In overseas trading,
Britain's FTSE 100 fell 0.30 percent, Germany's DAX index rose 0.10 percent, and France's CAC-40 fell 0.31 percent. 

Japan's Nikkei index fell 0.28 percent and Hong Kong's Hang Seng Index rose 0.29 percent.

http://biz.yahoo.com/ap/070928/wall_street.html?.v=21
*Stocks Dip, but End Third Quarter Higher*
Friday September 28, 4:53 pm ET
By Madlen Read, AP Business Writer
Stocks Make Slight Dip After Data Released on Consumer Spending, Manufacturing

NEW YORK (AP) -- Stocks dipped a bit Friday, the last trading day of the third quarter, with Wall Street relieved about solid readings on the economy but cautious ahead of October's corporate earnings reports.

The market's losses were small, thanks to positive reports on consumer spending, construction spending, inflation and Midwest manufacturing. Though strong economic data might lower the chance that the Federal Reserve will further reduce rates, the tame inflation measure kept hopes of a rate cut alive.

Last week the Fed, reacting to August's tightening credit and plunging stocks, helped restore confidence in the financial markets by decreasing the federal funds rate target by a half point to 4.75 percent. The central bank's rate decrease, the first in four years, helped the major stock indexes finish in positive territory for the quarter.

"A second Fed cut will go a long way in reassuring the stock market that the worst is over. The focus going forward will be whether the Fed is going to lower rates to shore this up, or decide the risk of inflation is too high," said Janna Sampson, director of portfolio management at Oakbrook Investments.

Though energy and food prices are surging, core inflation has been within the Fed's comfort zone of 1 percent to 2 percent. The Commerce Department's consumer spending report showed that a key core inflation gauge logged a year-over-year rise in August of 1.8 percent -- the smallest increase since a similar rise in February 2004.

But continuing to weigh on investors is the concern that corporate profits dropped off in the third quarter. Friday is the last trading day of one of the most volatile periods in years, one that pulled stocks sharply lower after the Dow Jones industrial average closed at a record 14,000.41 in mid-July. Wall Street now is bracing for signs, ahead of the mid-October onslaught of earnings reports, of how companies fared during the summer's tumult.

The Dow slipped 17.31, or 0.12 percent, to 13,895.63. The blue-chip index ended the third quarter 3.6 percent higher.

The Standard & Poor's 500 index fell 4.63, or 0.30 percent, to 1,526.75, finishing the quarter up 1.6 percent.

The Nasdaq composite index fell 8.09, or 0.30 percent, to 2,701.50, and closed the quarter with a gain of 3.8 percent.

But the Russell 2000 index of smaller companies has not recovered from August's drop, during which investors pulled money out of the shares of fledgling companies that rely heavily on the credit markets for cash. The Russell on Friday fell 8.56, or 1.05 percent, to 805.45, and ended the quarter down 3.4 percent.

Bonds declined, pushing the yield on the 10-year Treasury note up to 4.59 percent from 4.57 percent late Thursday.

The dollar slumped against most major currencies as inflation appeared to be easing. The euro surpassed $1.42 for the first time, hitting a record against the U.S. currency for the seventh straight session.

Crude oil prices fell $1.12 to $81.66 a barrel on the New York Mercantile Exchange, but remain near historic highs.

"We're going to see crimped corporate profits if they eat those (commodity) costs, and inflation if they pass those down. Neither of those are good," Sampson said.

So far, consumers and businesses seem to be holding up despite high energy prices, the weak housing market and the summer's market volatility.

The Commerce Department said Friday that consumer spending increased 0.6 percent in August, the fastest growth in more than two years. But Bernard Baumohl at the Economic Outlook Group LLC projected that holiday spending will increase 3.5 percent this year, less than the 4.5 percent of last season.

Meanwhile, August construction spending rose, to analysts' surprise, by 0.2 percent; Chicago's National Association of Purchasing Management said regional business activity increased in September by more than expected; and the University of Michigan said consumer sentiment during the month held steady.

As the turbulent third quarter draws to a close, investors are slightly less concerned about the tightening in the credit markets that sent stocks plummeting in late July and August. On Thursday, the Fed said banks slowed their borrowing from central bank this week to the smallest amount in six weeks, after a huge spike last week.

But while most agree conditions have improved, the credit markets still haven't returned to normal. Levels of outstanding asset-backed commercial paper fell about 17 percent in the week ending Wednesday -- not as steep a decline as seen a few weeks ago, but still suggesting that demand isn't meeting supply.

"We have tentative signs that the financial markets are beginning to recover from the recent upset, but financial fragility is obviously still an issue," said St. Louis Fed President William Poole in prepared remarks Friday in New York.

Declining issues outnumbered advancers by about 9 to 7 on the New York Stock Exchange, where volume came to 1.34 billion shares.

In overseas trading, Britain's FTSE 100 fell 0.30 percent, Germany's DAX index rose 0.10 percent, and France's CAC-40 fell 0.31 percent. Japan's Nikkei index fell 0.28 percent and Hong Kong's Hang Seng Index rose 0.29 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by 191 points on Monday October 1:

Dow Jones Passes 14,000 for Record High

Sym Last........ ........Change..........
Dow	14,087.55	+191.92	+1.38%
-- Day's Range:	13893.51 - 14115.51
-- 52wk Range:	11,608.20 - 14,121.00
Nasdaq	2,740.99	+39.49	+1.46%
-- Day's Range:	2704.25 - 2743.53
-- 52wk Range:	2,224.21 - 2,724.74
S&P 500	1,547.04	+20.29	+1.33%
-- Day's Range:	1527.25 - 1549.02
-- 52wk Range:	1,327.10 - 1,555.90
30-yr Bond	4.7980%	-0.0350
NYSE Volume	3,281,935,250
Nasdaq Volume	2,015,476,750

Overseas, Britain's FTSE 100 rose 0.61 percent, Germany's DAX index rose 0.77 percent, and France's CAC-40 added 1.01 percent. In Asia, Japan's Nikkei stock average closed up 0.36 percent, while the market was closed in Hong Kong for a holiday.

http://biz.yahoo.com/ap/071001/wall_street.html?.v=59
*Dow Jones Passes 14,000 for Record High*
Monday October 1, 6:01 pm ET
By Joe Bel Bruno, AP Business Writer
*Dow Jones Surges Past 14,000 to Hit Record High As Credit Worries Begin to Subside
*
NEW YORK (AP) -- Wall Street began the fourth quarter with a huge rally Monday, sending the Dow Jones industrial average above 14,000 and well into record territory for the first time in 2 1/2 months. Stocks were buoyed by a growing belief that the worst of the credit crisis has passed.

While the beginning of the new quarter was an incentive for institutional investors to buy, they also seemed to be motivated by a sense that banks and other financial companies generally weathered the recent credit market upheaval. Both Citigroup and Switzerland's UBS AG issued third-quarter profit warnings, but indicated the current period might see a return to normal earnings levels.

Meanwhile, the market was optimistic that new economic data might nudge the Federal Reserve toward another interest rate cut at its Oct. 30-31 meeting. The Institute for Supply Management said the manufacturing sector grew in September at the slowest pace in six months; the trade group said its index of manufacturing activity registered at 52.0 in September, below forecasts for a reading of at least 52.5.

"People are getting more confident there is going to be an October rate cut," said John C. Forelli, portfolio manager for Independence Investment. "To some degree, it looks like Citi kitchen-sinked the quarter, and that from here going forward will be calmer. That's underpinning the financials."

Enthusiasm about acquisition activity picked up after Nokia unveiled an $8.1 billion offer to buy navigation-software maker Navteq Corp. The deal was seen as a signal that corporations are feeling comfortable in making big moves despite recent market turbulence.

The Dow rose 191.92, or 1.38 percent, to 14,087.55.

The blue chip index surpassed its closing record of 14,000.41 set in mid-July, and moved into record territory, rising as high as 14,115.51 and eclipsing its previous intraday high of 14,021.95 set July 17.

Broader market indexes also rose sharply. The Standard & Poor's 500 index rose 20.29, or 1.33 percent, to 1,547.04, nearing its all-time trading high of 1,555.90, also reached in mid-July. The Nasdaq composite index rose 39.49, or 1.46 percent, to 2,740.99; the tech-laden index remains well below its high of 5,048.62, reached in 2000 when it was bloated by the dot-com boom.

The Dow finished a turbulent third quarter with a 3.6 percent gain, after the Fed eased investor concerns over the credit and housing markets by lowering key interest rates half a percentage point.

Bonds moved higher Monday, with the yield on the benchmark 10-year Treasury note falling to 4.55 percent from 4.59 percent late Friday. Fixed-income investors, currently concerned about the dollar's recent weakness, interpreted the ISM report as not necessarily portending an interest rate cut, which would further erode the U.S. currency.

The dollar was mixed Monday against other major currencies, while gold prices rose.

A barrel of light, sweet crude fell $1.42 to $80.24 on the New York Mercantile Exchange. This extended last week's decline amid concerns that oil market fundamentals do not support recent high prices.

Arthur Hogan, chief market analyst at Jefferies & Co., said the biggest tipping point of the day was financial stocks. For the first time, Citi -- considered a barometer for the banking industry -- is giving some real numbers about the extent of its damage, he said.

"If they are giving us worst-case scenario, then market participants are feeling that most of the stuff we've worried about since July will remain contained," he said. "That's the celebration the market is putting on right now, and the take away is that the black hole of not knowing finally has some numbers around it."

Financial stocks -- from brokerages to retail banks -- slumped during the third quarter as uncertainty grew about the extent of losses from the credit and subprime mortgage turmoil. Comments from Citi Chief Executive Charles Prince that he expects to "return to a more normal earnings environment" during the fourth quarter put investors more at ease.

And, since analysts believe financials must lead a broader Wall Street advance, a rally in bank and brokerage stocks was greeted with enthusiasm. Citigroup shares rose $1.05, or 2.3 percent, to $47.72. Countrywide Financial Corp., the nation's largest home loan provider, rose 95 cents, or 5 percent, to $19.96 on the potential of an easing in subprime loan jitters.

UBS, the largest Swiss bank, rose $1.69, or 3.2 percent, to $54.94 after warning it would take a pretax loss of up to $690 million in the quarter and cut 1,500 jobs. Rival Credit Suisse Group rose $1.66, or 2.5 percent, to $67.99 after it said third-quarter profit will remain healthy despite stormy conditions.

Homebuilding stocks -- another group that has been hard hit in recent weeks -- spiked after several big players in the sector were upgraded by Citigroup. The report said large-cap builders with stronger balance sheets should benefit in the coming quarters.

Lennar Corp. rose 62 cents, or 2.7 percent, to $23.27; D.R. Horton Inc. added 65 cents, or 5.1 percent, to $13.46; and Pulte Homes Inc. was up $1.18, or 8.7 percent, at $14.79.

Hope that acquisition activity would rebound from a sluggish third quarter got a boost when Nokia said it would buy Navteq. The deal is the first announced during the fourth quarter. During the third quarter, there was $992.1 billion worth of deals during the third quarter -- down 43 percent from the second quarter, according to data tracker Dealogic.

Nokia rose 8 cents to $37.96, while Navteq fell $1.52, or 2 percent, to $76.45. The stocks of acquiring companies tend to fall after takeover announcements amid concerns that a deal might burden the purchaser with debt.

The Russell 2000 index of smaller companies was up 19.31, or 2.39 percent, at 824.76.

Advancing issues led decliners by a 3 to 1 basis on the New York Stock Exchange, where consolidated volume rose to 3.26 billion shares from 2.92 billion shares on Friday.

Overseas, Britain's FTSE 100 rose 0.61 percent, Germany's DAX index rose 0.77 percent, and France's CAC-40 added 1.01 percent. In Asia, Japan's Nikkei stock average closed up 0.36 percent, while the market was closed in Hong Kong for a holiday.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by 40 points on Tuesday October 2:

Sym Last........ ........Change..........
Dow	14,047.31	-40.24	-0.29%
-- Day's Range:	14012.11 - 14107.47
-- 52wk Range:	11,608.20 - 14,147.30
Nasdaq	2,747.11	+6.12	+0.22%
-- Day's Range:	2732.69 - 2747.11
-- 52wk Range:	2,224.21 - 2,743.53
S&P 500	1,546.63	-0.41	-0.03%
-- Day's Range:	1540.37 - 1548.01
-- 52wk Range:	1,327.10 - 1,555.90
30-yr Bond	4.7780%	-0.0200
NYSE Volume	3,074,014,750
Nasdaq Volume	1,780,610,120

*Overseas, *
Britain's FTSE 100 fell 0.09 percent, Germany's DAX index rose 0.31 percent, and France's CAC-40 rose 0.45 percent. Japan's Nikkei stock average closed up 1.19 percent.

http://biz.yahoo.com/ap/071002/wall_street.html?.v=43
*Stocks Mixed Amid Rate Cut Hopes*
Tuesday October 2, 4:39 pm ET
By Madlen Read, AP Business Writer
*Wall Street Mixed As Investors Sell Large-Cap Stocks and Snap Up Small Caps*

NEW YORK (AP) -- Wall Street ended mixed Tuesday, selling off large companies' stocks but buying up those of smaller companies, as investors cashed in gains from Monday's big rally and poked around for new bargains.

It was an unusual day of trading -- normally, the major stock indexes closely track one another, but Tuesday, the Dow Jones industrials closed with a moderate loss while the Nasdaq composite had a moderate gain. Given the market's quick, sharp rebound from August's credit market squeeze and stock selloff, it was to be expected that investors would pause to adjust their portfolios as the fourth quarter gets under way.

Wall Street was only slightly fazed by the National Association of Realtors' report Tuesday that its seasonally adjusted index of pending sales for existing homes fell 6.5 percent in August from July and 21.5 percent from a year ago. The data suggest sales of existing homes will probably keep declining in the coming months -- bad news for the economy, but good news for those hoping for another interest rate cut.

After the Federal Reserve lowered rates on Sept. 18, the stock market is hoping for a similar move again at the Fed's Oct. 30-31 meeting. That optimism drove the Dow up nearly 192 points Monday to close at 14,087.55 -- a new high and its first foray above the 14,000 level since mid-July, right before stocks plunged on worries related to subprime mortgages and overly leveraged debt.

"The economy is soft, you have this big run-up, and the fact is people are just taking some profit," said Scott Fullman, director of investment strategy for I. A. Englander & Co. "There's not a ton of news to trade on, and investors are also looking ahead to the unemployment report on Friday."

The Dow fell as investors sold some of their large-cap stock holdings, which have recently performed well. Also, with commodities prices retreating and the dollar rebounding, big mining and oil companies -- such as Dow component Exxon Mobil Corp. -- may see dampened profits. Small-cap stocks rose, along with homebuilders, airlines and brokerages, as investors returned to companies that were unattractive during the summer's tight credit environment and now appear cheap.

"Larger-cap companies don't need to do borrowing. After the rate cut, those who believe there will be another rate cut would want own smaller-cap stocks," said Matt Kelmon, portfolio manager of the Kelmoore Strategy Funds.

According to preliminary calculations, the Dow fell 40.24, or 0.29 percent, to 14,047.31.

The broader Standard & Poor's 500 index fell 0.41, or 0.03 percent, to 1,546.63, while the tech-dominated Nasdaq rose 6.12, or 0.22 percent, to 2,747.11.

The Russell 2000 index of smaller companies rose 7.23, or 0.88 percent, to 831.97.

Advancing issues outnumbered decliners by about 9 to 7 on the New York Stock Exchange, where volume came to 1.27 billion shares.

Government bond prices rose as the Dow pulled back. The 10-year Treasury note yield, which moves inversely to its price, fell to 4.53 percent from 4.56 percent late Monday.

The dollar rebounded from record lows versus the euro, and also recovered some ground against the pound and the Canadian dollar. Gold, which has recently hit multi-decade highs, tumbled under pressure from the rising dollar; an ounce of gold fell $17.80 to $736.30 on the New York Mercantile Exchange.

Crude oil futures on the Nymex also declined, slipping 19 cents to $80.05 a barrel. Many analysts say oil's September rally to record levels above $83 a barrel was due to speculative buying by investors taking advantage of the weak dollar. A stronger dollar makes commodities more costly to foreign buyers.

Expectations that oil and gold will fall further hurt energy and mining company stocks. Exxon Mobil fell $1.71 to $92.24; ConocoPhillips fell $1.77, or 2 percent, to $85.62; Chevron Corp. fell $1.88, or 2 percent, to $92.56. Barrick Gold Corp. dropped $1.98, or 4.8 percent, to $39.25, and Harmony Gold Mining Ltd. fell 83 cents, or 7 percent, to $11.07.

Meanwhile, top automakers' September sales came in mixed.

General Motors Corp. was the biggest gainer among the 30 Dow components, rising $1, or 2.8 percent, to $37.05 after reporting that its September U.S. sales rose slightly on stronger demand for its light trucks and crossover vehicles.

But Ford Motor Co.'s U.S. sales plummeted 21 percent in September on deep cuts in sales to car rental agencies. Still, its stock rose 34 cents, or 4.1 percent, to $8.57, on an anticipated new contract with union workers.

In other corporate news, a group of investors reduced its cash offer for SLM Corp., known as Sallie Mae, by 17 percent, and SLM insisted that the buyers honor their original $25 billion deal. SLM rose 19 cents to $50.09.

Acquisitions are still happening, though, despite a tighter-than-normal credit market.

Canada-based TD Bank Financial Group agreed to buy Commerce Bancorp Inc. in a cash-and-stock deal valued at $8.5 billion. The news got a lukewarm reception: Commerce fell 35 cents to $39.47, and Toronto Dominion fell $4.29, or 5.6 percent, to $72.65.

And Citigroup Inc. said it is buying the rest of Nikko Cordial Corp. for shares valued at about $4.6 billion. The bank already owned a 68 percent stake in Japan's third-largest brokerage. Citigroup, which estimated Monday that its third-quarter profit will drop 60 percent, rose 14 cents to $47.86.

Overseas, Britain's FTSE 100 fell 0.09 percent, Germany's DAX index rose 0.31 percent, and France's CAC-40 rose 0.45 percent. Japan's Nikkei stock average closed up 1.19 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

*All Ords on track to crack 7000 before Christmas*
http://www.smh.com.au/news/business...efore-christmas/2007/10/02/1191091114453.html

*All Ords on track to crack 7000 before Christmas*
October 3, 2007

THE Australian sharemarket soared to dizzy heights again yesterday, with the usual suspects from the commodities sector, Rio Tinto and BHP, helping the bourse to smash records.

Analysts now say the market could reach the symbolically significant 7000-point level by Christmas.

The ASX 200 index closed up 96.2 points or 1.47 per cent at 6659.9, while the All Ordinaries soared 87.8 points to 6667.6.

Both indices also touched record intraday highs. The ASX 200 reached an intraday high of 6666.8, eclipsing the previous high of 6605 set on Monday.

The All Ordinaries set a fresh record intraday high at 6673.6, beating the previous record of 6616.4 set on Monday.

On the Sydney Futures Exchange, the December share price index contract closed the day up 95 at 6724 on a volume of 22,956 contracts.

An ABN Amro Morgan private client adviser, Kylie Macdonald, said she was flabbergasted by the strength of the bourse but said it was driven by large institutions scrambling to get back into the market after deserting it in August.

Bullish predictions that the All Ords could break through 7000 points by Christmas were not out of the question, Mrs Macdonald said.

"Stocks like Babcock and Brown and Macquarie Bank were unnecessarily sold down in August and they're all going great guns now," she said.

"Is it sustainable? That's the million-dollar question.

"I think we'll be higher at Christmas than we are now but the question is what sort of volatility we will see along the way.

"It needs to pull back but it won't stay down for terribly long."

Rio Tinto reached a record close of $112.50, which was up $3.66 on Monday's close. It was a similar story at BHP Billiton, which rose $1.55 to $46.05.

Woodside Petroleum enjoyed a robust rise, climbing 76c to $51.90, hitting a record high of $51.98, while rival Santos slipped 7c to $14.83, Oil Search fell 7c to $4.16 and Beach fell 3c to $1.46.

The goldminers were patchy, with Newmont edging up 1c to $5.10, Lihir shedding 6c to $4.06 and Newcrest dropping 83c to $28.27.

The big banks gained significantly. National Australia Bank put on 63c to end at $40.43 and ANZ gained almost 2 per cent, 59c, to finish at $30.20. Westpac, which announced a partial takeover of Rams Home Loans Group, rose 53c and the Commonwealth was up $1 to $57.60.

St George Bank was up 70c to $36.10, Suncorp rose 26c to $20.61 and AXA closed 9c higher at $7.87.


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by 79 points on Wednesday October 3:

Sym Last........ ........Change..........
Dow	13,968.05	-79.26	-0.56%
-- Day's Range:	13947.73 - 14038.94
-- 52wk Range:	11,608.20 - 14,166.20
Nasdaq	2,729.43	-17.68	-0.64%
-- Day's Range:	2721.23 - 2746.14
-- 52wk Range:	2,224.21 - 2,747.11
S&P 500	1,539.59	-7.04	-0.46%
-- Day's Range:	1536.34 - 1545.84
-- 52wk Range:	1,327.10 - 1,555.90
30-yr Bond	4.7870%	+0.0090
NYSE Volume	3,065,318,000
Nasdaq Volume	1,916,897,500

*Overseas,*
 Japan's Nikkei stock average closed up 0.90 percent, while Hong Kong's Hang Sang index fell 2.55 percent. 
European markets advanced. Britain's FTSE 100 gained 0.54 percent, Germany's DAX index rose 0.11 percent, and France's CAC-40 gained 0.12 percent.

http://biz.yahoo.com/ap/071003/wall_street.html?.v=43
*Stocks Slide As Investors Await Catalyst*
Wednesday October 3, 5:34 pm ET
By Tim Paradis, AP Business Writer
*Stocks Retreat After Economic Data Offer Little Reason to Stanch Losses*

NEW YORK (AP) -- Wall Street extended its pullback Wednesday as investors, retrenching from an optimistic stance early in the week, waited to see how well corporate earnings and the job market have held up in an uneven economy.

The market showed little conviction for a second day as economic readings offered few surprises and as investors looked for signs -- possibly from the September employment report due Friday -- of whether the market's rebound from its summer lows has been warranted.

The decline Wednesday preceded earnings reports from the recently completed third quarter and Friday's jobs number, which can signal whether consumer spending will continue apace. Wall Street had little reaction to a report that the nation's service sector, whose industries account for 80 percent of U.S. economic activity, showed a decline last month.

Homebuilder stocks rose amid a sense among some analysts that the housing market might have hit bottom. Meanwhile, semiconductor shares mostly lost ground on concerns about pricing pressures.

"There are a lot of cross currents," said George Shipp, chief investment officer at investment adviser Scott & Stringfellow in Richmond, Va. "The general pattern is that the U.S. economy is slowing."

The Dow Jones industrial average fell 79.26, or 0.56 percent, to 13,968.05. The Dow moved back above 14,000 on Monday after spending 2 1/2 months below that level amid concerns about soured mortgages, tighter access to credit and the housing market slump.

Broader stock indicators also fell. The Standard & Poor's 500 index fell 7.04, or 0.46 percent, to 1,539.59, and the Nasdaq composite index fell 17.68, or 0.64 percent, to 2,729.43.

Bond prices slipped Wednesday after the economic readings. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 4.54 percent from 4.53 percent late Tuesday.

Wall Street appears to be taking many economic readings in stride, perhaps expecting some slowdown before the Federal Reserve's rate cut is reflected in economic data. Often, such cuts can take more than a year to fully work themselves into the economy.

The Institute for Supply Management reported that the service sector expanded at a slower pace in September than in August. The trade group's non-manufacturing index fell to 54.8 from 55.8 in August as expected; the index is now at its lowest point since March. A reading above 50 indicates economic expansion, while a figure below 50 signals contraction.

A weaker ISM service sector report could have ignited investor enthusiasm for another rate cut by the Fed, which lowered its key lending rate last month by a larger-than-expected half percentage point. Many investors expect the central bank to trim rates further this year, but there is debate over whether another reduction might come at the Fed meeting Oct. 30-31 or in December.

In other economic news, home buying has continued at its sluggish pace. The Mortgage Bankers Association said mortgage application volume fell 2.7 percent in the week ended Sept. 28. The MBA composite index, which gauges the level of mortgage applications, fell to 636.7 from 654.2 a week earlier.

"With all those numbers, unless it's really bad we're fine because people can say it's still a function of the dislocations that we saw in August," said Kurt Wolfgruber, chief investment officer at OppenheimerFunds Inc., adding that it is still too soon to see the full effects of the Fed's move.

Among sectors showing movement, homebuilder stocks rose again as investors bet the sector would see an improvement. Lennar Corp. rose $1.10, or 4.5 percent, to $25.82, while Pulte Homes Inc. rose 46 cents, or 3 percent, to $15.96.

Chip stocks slid amid unease over pricing competition. Micron Technology Inc. fell $1.05, or 8.9 percent, to $10.74 after issuing a forecast that disappointed Wall Street. Intel Corp. fell 57 cents, or 2.2 percent, to $25.81 and was one of the biggest decliners among the 30 stocks that make up the Dow industrials.

But Shipp is optimistic some quarterly results will meet tempered expectations.

"Earnings season is coming up and forecasts have been ratcheted down to very beatable levels."

In corporate news, Germany's Deutsche Bank AG said it would book charges totaling about $3.1 billion in the third quarter due to losses on loans amid turmoil in the mortgage lending market. The bank's forecast follows warnings on results from Citigroup Inc. and Switzerland's UBS AG on Monday. Deutsche Bank rose $1.70 to $134.07, while Citigroup rose 3 cents to $47.89 and UBS rose 37 cents to $56.98.

In commodities trading, gold prices fell, extending a sharp fall seen Tuesday. Oil prices fell for the fourth session, settling down 11 cents at $79.94 per barrel on the New York Mercantile Exchange, after the government reported an unexpected increase in crude oil inventories.

The dollar rose against other major currencies.

Declining issues outnumbered advancers by about 5 to 3 on the New York Stock Exchange, where volume came to 1.25 billion shares compared with 1.27 billion traded Tuesday.

The Russell 2000 index of smaller companies fell 5.82, or 0.70 percent, to 826.15.

Overseas, Japan's Nikkei stock average closed up 0.90 percent, while Hong Kong's Hang Sang index fell 2.55 percent. European markets advanced. Britain's FTSE 100 gained 0.54 percent, Germany's DAX index rose 0.11 percent, and France's CAC-40 gained 0.12 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by 6 points on Thursday October 4:

Sym Last........ ........Change..........
Dow	13,974.31	+6.26	+0.04%
-- Day's Range:	13951.63 - 14010.41
-- 52wk Range:	11,654.00 - 14,166.20
Nasdaq	2,733.57	+4.14	+0.15%
-- Day's Range:	2718.05 - 2735.52
-- 52wk Range:	2,239.26 - 2,747.11
S&P 500	1,542.84	+3.25	+0.21%
-- Day's Range:	1537.63 - 1544.02
-- 52wk Range:	1,331.48 - 1,555.90
30-yr Bond	4.7670%	-0.0200
-- Day's Range:	4.7650 - 4.8160
-- 52wk Range:	4.525 - 5.408
NYSE Volume	2,690,420,750
Nasdaq Volume	1,759,147,880

Overseas, 
Britain's FTSE 100 closed up 0.19 percent, 

Germany's DAX index fell 0.13 percent, and France's CAC-40 slipped 0.03 percent. In Asia, Japan's Nikkei stock average fell 0.62 percent. Hong Kong's Hang Seng index declined 1.84 percent.

http://biz.yahoo.com/ap/071004/wall_street.html?.v=49
*Stocks Slightly Up Ahead of Jobs Report*
Thursday October 4, 5:39 pm ET
By Madlen Read, AP Business Writer
*Stocks Finish Modestly Higher Ahead of September Employment Report*

NEW YORK (AP) -- Wall Street finished a quiet session modestly higher Thursday as investors awaited the government's September employment report, hoping it will strike a balance between steady growth and more room for interest rate cuts.

Thursday's economic data, which showed a gain in jobless claims and a drop in factory orders, gave investors little incentive to make any big moves ahead of Friday's payrolls report.

Wall Street appears optimistic that the Labor Department report will indicate a rebound from August and include revisions to that month's dismal numbers. August's job creation report showed a decline in payrolls when economists had predicted a rise, and sent the Dow Jones industrial average down nearly 250 points the day it was released. Since then, the Federal Reserve has lowered a key interest rate and the Dow quickly bounced back to where it was in mid-July, before the credit markets tightened up and caused stocks to fall sharply.

Friday's report is important because this year's relatively stable job market has been an important prop for the U.S. economy, helping to offset the housing slump and sluggish growth.

"The jobs report can be a real distraction for the market, and with good reason. The number of people working, where they work, how much they get paid, tells us a whole lot about the economy," said Alan Gayle, senior investment strategist at Trusco Capital Management. "In the meantime, the markets are pretty much treading water. A strong report (Friday) will revive notions that the Fed is one and done. If the report continues to be soft, that's going to suggest more easing coming our way."

But while investors are angling for the Fed to lower rates again when it meets Oct. 30-31 -- which would spur spending by making borrowing cheaper -- they don't want the job market to weaken. When people don't have incomes, they tend to trim spending and can become delinquent in their bill payments.

"A relatively strong employment report will be good news for stocks in that it will help support profit growth," Gayle said. "Obviously Fed rate cuts are good, but more earnings is always the best."

The Dow rose 6.26, or 0.04 percent, to 13,974.31, after shooting to a record high Monday and then giving back a large chunk of its gains Tuesday and Wednesday.

Broader stock indicators were also little changed on the day, which was notable for its low volume and muted volatility. The Standard & Poor's 500 index rose 3.25, or 0.21 percent, to 1,542.84, and the Nasdaq composite index advanced 4.14, or 0.15 percent, to 2,733.57.

Bonds rose as the markets awaited the employment report. The yield on the benchmark 10-year Treasury note, which moves inversely to its price, fell to 4.53 percent from 4.55 percent late Wednesday.

The stock market appeared unfazed by comments from Dallas Fed President Richard Fisher who said, according to Dow Jones Newswires, that while credit markets have stabilized from the gyrations seen in August, problems with products such as asset-backed securities remain. Asset-backed products include loans that are bundled and sold off to investors.

These securities that include subprime loans, which are made to borrowers with poor credit, fell out of favor amid concerns about rising mortgage defaults. However, demand appears to be slowly creeping back to normal: Asset-backed commercial paper outstanding dropped by $6.1 billion in the week ended Wednesday, the Fed said, the smallest decrease since the commercial paper market began contracting in mid-August.

On Thursday, the Labor Department said jobless claims rose 16,000 to 317,000 in the week ended Sept. 29, a bigger jump than analysts anticipated. Meanwhile, the Commerce Department reported that orders to U.S. factories fell in August by 3.3 percent, slightly worse than expected and the largest amount in seven months. Although the activity reflected in the report predates the Fed's rate cut, it still shows the degree to which the economy has been struggling.

The U.S. dollar fell against most major world currencies, pushing gold higher.

Crude oil futures settled higher for the first time in four sessions as investors weighed whether supplies are adequate to meet demand. Light, sweet crude for November delivery rose $1.50 to settle at $81.44 a barrel on the New York Mercantile Exchange.

In corporate news, Bear Stearns Cos. fell 67 cents to $127.61 after the company said it was laying off 310 workers associated with its mortgage operations. Executives said, however, that its business is slowly rebounding after a turbulent summer. Bear Stearns, the investment bank most heavily exposed to the home loan market, booked big charges after two of its hedge funds that bet on mortgage debt imploded.

Meanwhile, Merrill Lynch & Co. fell $1.22 to $74.78 after a CIBC World Markets analyst cut her third-quarter earnings estimate for the company, predicting the tumult that swept through the credit markets this summer will erase $3 billion from the investment bank's revenue.

Advancing issues outnumbered decliners by about 5 to 3 on the New York Stock Exchange, where consolidated volume came to 2.66 billion shares, compared with 3.06 billion shares traded Wednesday.

The Russell 2000 index of smaller companies rose 3.00, or 0.36 percent, to 829.15.

Overseas, Britain's FTSE 100 closed up 0.19 percent, Germany's DAX index fell 0.13 percent, and France's CAC-40 slipped 0.03 percent. In Asia, Japan's Nikkei stock average fell 0.62 percent. Hong Kong's Hang Seng index declined 1.84 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by 91.70 points +0.66% on Friday October 5:

Sym Last........ ........Change..........
Dow	14,066.01	+91.70	+0.66%
-- Day's Range:	13968.83 - 14124.54
-- 52wk Range:	11,743.30 - 14,166.20
Nasdaq	2,780.32	+46.75	+1.71%
-- Day's Range:	2749.85 - 2784.93
-- 52wk Range:	2,287.61 - 2,747.11
S&P 500	1,557.59	+14.75	+0.96%
-- Day's Range:	1543.84 - 1561.91
-- 52wk Range:	1,343.57 - 1,555.90
30-yr Bond	4.8710%	+0.1040
-- Day's Range:	4.7710 - 4.8990
-- 52wk Range:	4.525 - 5.408
NYSE Volume	2,919,031,750
Nasdaq Volume	2,022,476,750

*Overseas, *
European markets advanced following the U.S. jobs report. Britain's FTSE 100 finished up 0.73 percent, Germany's DAX index rose 0.72 percent, while France's CAC-40 rose 0.67 percent. 

In Asia, Japan's Nikkei stock average closed down 0.16 percent and Hong Kong's Hang Seng index gained 3.18 percent.

*Stocks End Higher Following Jobs Report*
http://biz.yahoo.com/ap/071005/wall_street.html?.v=48
Friday October 5, 6:10 pm ET
By Tim Paradis, AP Business Writer
*Stocks Jump After Labor Department Reports Big September Job Growth; S&P 500 Sets Record Close*

NEW YORK (AP) -- Wall Street capped a huge week with a sharp advance Friday after the government's employment report for September and its revision of August's data cooled the market's fears of a recession. The Standard & Poor's 500 index, the measure most closely followed by market watchers, reached a new closing high.

The Labor Department's report that employers added 110,000 jobs in September -- essentially what analysts had expected -- reassured Wall Street that the job market wasn't pulling back sharply as was feared a month ago. Though the data appeared to lessen the likelihood of an interest rate cut when the Federal Reserve meets Oct. 30-31, investors were relieved that the economy doesn't appear headed for a precipitous slowdown.

Strength this year in the job market amid a housing downturn and tighter credit conditions has been an important pillar for the economy. With consumer spending accounting for about two-thirds of U.S. economic activity, investors are eager for workers to continue to collect their paychecks.

Much of Wall Street's collective exhale Friday owed to a revision in August payrolls, which were updated to show a gain of 89,000 jobs compared with an earlier estimate of loss of 4,000 jobs. The release last month of the August figure -- when economists had predicted a rise -- sent the Dow down nearly 250 points in a single session and, market watchers say, played a role in the Fed's decision to cut its key interest rate by a larger-than-expected half-percentage point last month.

"We're not seeing a weakening of the labor market. There's no indication that the wheels are falling off," said T.J. Marta, economic strategist at RBC Capital Markets. He contends that while the employment figures make it less likely the Fed will cut rates this month, many on Wall Street were relieved to see the economy forging ahead.

"It looks bad compared with the rip-roaring days in the housing sector but this is called normalcy."

The Dow Jones industrial average rose 91.70, or 0.66 percent, to 14,066.01. The blue chip index set a new trading high of 14,124.54, topping a high of 14,115.51 set Monday, when the index also saw a record close.

Broader stock indicators also jumped. The S&P 500 index rose 14.75, or 0.96 percent, to 1,557.59. The advance put the S&P 500 ahead of the previous record close of 1,553.08, which occurred July 19 before stocks began a broad retrenchment amid concerns about credit, housing and the overall economy. The S&P 500, which is the basis of many mutual funds and other investments and is used as a benchmark, also set a fresh trading high of 1,561.91, topping a July 16 high of 1,555.90.

The technology-dominated Nasdaq composite index showed bigger gains, rising 46.75, or 1.71 percent, to 2,780.32.

Likewise, the Russell 2000 index of smaller companies rose 15.73, or 1.89 percent, to 844.88.

The gains left stocks sharply higher for the week. The Dow added 1.2 percent, while the S&P 500 2 percent and the Nasdaq advanced 2.9 percent. The Russell 2000 posted the biggest gains, however, jumping 4.9 percent.

Bond prices fell sharply as investors interpreted the jobs data as evidence against a rate cut. The yield on the 10-year Treasury note, which moves opposite its price, climbed to 4.64 percent from 4.53 percent at Thursday's close.

The stock market's advance was reminiscent of a big rally Monday in which the Dow first moved back above 14,000 after a pullback of several months. Comments from Citigroup Inc. Monday that its business could rebound in the current quarter buoyed the market. Investors then gave back gains in subsequent sessions as they awaited the employment reading.

The employment report and news from Citi and other financial companies calmed the market's concerns about the economy.

Wall Street was forced to examine the ramifications of credit market tightness and a slumping housing market on the banking sector again Friday. Merrill Lynch & Co. warned of a loss in the third quarter, and Washington Mutual Inc. forecast sharply lower profit due to problems stemming from turmoil in the mortgage market.

Merrill rose $1.89, or 2.5 percent, to $76.67, and Washington Mutual rose 79 cents, or 2.2 percent, to $36.07 as many investors expect the financial institutions' businesses will return to more normal levels.

Part of the financial upheaval that has hurt some financial houses has also pulled the dollar down sharply in recent weeks, a decline hastened by the Fed's last rate cut. With the employment reading still leaving room for a rate ease in some investors' eyes, the dollar finished mixed against other major currencies. Lower interest rates would make the dollar a less attractive investment.

Meanwhile, gold prices rose and light, sweet crude settled down 22 cents at $81.22 per barrel on the New York Mercantile Exchange.

Fed funds futures are pricing in a rate reduction of a quarter percentage point by the end of the year -- signaling the Fed would likely act at either its October or December meetings.

"There is not enough ammunition for another ease in October," Marta said, pointing to decent economic readings seen in recent weeks. "Maybe the Fed really had it right because they talked about forestalling economic fallout from the financial crisis," he said of the reasoning behind last month's cut.

"It's not like the economy is going gangbusters here but the reason the Fed tightened up through mid-2006 was to slow this economy down without breaking it and I think the employment data we've seen suggest they did a pretty darn good job of that."

In corporate news, aluminum maker and Dow component Alcoa Inc. said it expects to book charges on the planned sale of its packaging and consumer products businesses as well as restructure its electrical and electronic solutions segment. Alcoa rose $1.13, or 3 percent, to $38.79.

BlackBerry maker Research In Motion Ltd. rose $12.83, or 12.8 percent, to $113.37 after reporting its profit and revenue more than doubled in its fiscal second quarter on strong growth in its subscriber base.

Advancing issues outnumbered decliners by more than 3 to 1 on the New York Stock Exchange, where consolidated volume came to 2.93 billion shares compared with 2.66 billion traded Thursday.

Overseas, European markets advanced following the U.S. jobs report. Britain's FTSE 100 finished up 0.73 percent, Germany's DAX index rose 0.72 percent, while France's CAC-40 rose 0.67 percent. In Asia, Japan's Nikkei stock average closed down 0.16 percent and Hong Kong's Hang Seng index gained 3.18 percent.

The Dow Jones industrial average ended the week up 170.38, or 1.23 percent, at 14,066.01. The Standard & Poor's 500 index finished up 30.84, or 2.02 percent, at 1,557.59. The Nasdaq composite index ended up 78.82, or 2.92 percent, at 2,780.32.

The Russell 2000 index finished the week up 39.43, or 4.90 percent, at 844.88.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 15,723.69, up 361.67, or 2.35 percent, for the week. Friday's close topped a record set in July. A year ago, the index was at 13,535.05.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

http://www.theage.com.au/news/busin...t/2007/10/07/1191695740267.html?page=fullpage

*Wall Street records and positive news to boost local market*
October 8, 2007

THE Australian stock market is expected to open stronger today, after solid monthly jobs data in the US boosted stocks on Wall Street on Friday.

US banks and financial stocks lifted as employment growth eased fears that the American economy was headed for recession as a result of defaults in the subprime mortgage market. US Labour Department figures revealed payrolls lifted by 110,000 jobs in September. Furthermore, a fall of 4000 in the prior month was revised upwards to an increase of 89,000, which calmed investors who were concerned that subprime mortgage losses were weighing upon the economy.

The Dow Jones industrial average rose 91.7 points, or 0.66 per cent, to 14,066.01 while the Standard & Poor's 500 Index was 14.75 points, or 0.96 per cent, higher at a record close of 1557.59.

"I expect the Australian share market to open strongly … up about 50 to 60 points, following record-breaking performances on Wall Street and European markets, as investors responded to solid US employment growth data and indications that a resilient US economy continues to resist the pull of a housing-induced recession," MFS Investment Management chief executive Guy Hutchings said.

"However, I believe the US economy is far from out of the woods yet, and the relative state of composure within the debt markets at present may now face the prospect that successive near-term (interest) rate cuts by the (US) Federal Reserve may be much less certain," he said.

BHP Billiton and Rio Tinto should continue to rally as base metal and commodity prices continue to rise on expectations of global growth continuing above trend levels, he said. Last Friday, the S&P/ASX200 closed 38.5 points higher at 6605.4, and the All Ordinaries gained 37.4 points to 6617.3.

The local bourse will be focusing on a range of economic data this week, including ANZ job advertisements, NAB business survey, housing finance data and monthly job figures.


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by 22 points -0.16% on Monday October 8:

Sym Last........ ........Change..........
Dow	14,043.73	-22.28	-0.16%
-- Day's Range:	14009.67 - 14067.96
-- 52wk Range:	11,743.30 - 14,169.50
Nasdaq	2,787.37	+7.05	+0.25%
-- Day's Range:	2771.60 - 2787.37
-- 52wk Range:	2,289.99 - 2,784.93
S&P 500	1,552.58	-5.01	-0.32%
-- Day's Range:	1549.00 - 1556.51
-- 52wk Range:	1,343.57 - 1,561.91
30-yr Bond	4.8610%	-0.0100
NYSE Volume	2,070,116,000
Nasdaq Volume	1,547,353,500

Overseas, markets in Japan were closed for a holiday. 

Britain's FTSE 100 fell 0.83 percent, Germany's DAX index fell 0.35 percent, and France's CAC-40 declined 0.24 percent.

http://biz.yahoo.com/ap/071008/wall_street.html?.v=47
*Stocks End Mostly Down Ahead of Earnings*
Monday October 8, 6:26 pm ET
By Madlen Read, AP Business Writer
*Wall Street Stocks Mostly Slip After Last Week's Run-Up; Investors Await 3rd-Quarter Earnings*

NEW YORK (AP) -- Wall Street finished a quiet session mostly lower Monday as investors cashed in some gains from last week's rally and readied for quarterly corporate earnings reports.

The Treasury bond market was closed for the Columbus Day holiday and there was no major economic news to guide investors, so Wall Street remained cautious ahead of the flood of third-quarter results. Aluminum producer Alcoa Inc., one of the 30 Dow Jones industrial average components, kicks off the earnings season on Tuesday.

Earnings are expected to reflect the difficulty some companies have faced -- particularly in the financial and housing sectors -- following upheaval in the credit markets amid overly leveraged debt and defaults in subprime mortgages. The reports will also give insight into the fourth quarter, which market participants predict will bring more robust growth.

"There's room for a rally if third-quarter earnings come in stronger than expected, but they do want to see that the fourth quarter is going to be strong as well," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research.

Trucking company Ryder System Inc. contributed to Wall Street's wariness Monday when it lowered its third-quarter and full-year forecasts on weakness in its fleet management business.

The Dow fell 22.28, or 0.16 percent, to 14,043.73.

Broader stock indexes were mixed. The Standard & Poor's 500 index fell 5.01, or 0.32 percent, to 1,552.58, while the Nasdaq composite index rose 7.05, or 0.25 percent, to 2,787.37. The Russell 2000 index of smaller companies fell 4.74, or 0.56 percent, to 840.14.

Trading volumes were low, with many investors on the sidelines for the holiday. Declining issues outnumbered advancers by nearly 2 to 1 on the New York Stock Exchange, where consolidated volume came to 2 billion shares, down from 2.93 billion shares Friday.

There was also light trading because the market is waiting for Tuesday's release of minutes from the Federal Reserve's Sept. 18 meeting, when policy makers lowered interest rates by a half-point. Wall Street hopes the minutes reveal hints that more rate cuts are in store, which could further loosen the credit markets and fuel spending.

The tech-heavy Nasdaq got a boost from Google Inc., which surpassed $600 for the first time and extended a monthlong rally after upbeat projections about third-quarter earnings. The company's initial public offering price was $85 in August 2004, and shares on Monday rose $15.57, or 2.6 percent, to $609.62.

The Nasdaq was also lifted by Business Objects SA, a French company with U.S.-traded shares that rose $7.56, or 15 percent, to $57.83. German software company SAP AG said late Sunday it would pay $6.79 billion for Business Objects SA. SAP fell $2.87, or 4.9 percent, to $56.36.

SAP's bid for Business Objects preceded a $1.1 billion bid Monday morning from diversified conglomerate Textron Inc. for United Industrial Corp. Textron fell $1.37, or 2.1 percent, to $64.01, and United Industrial rose $4.77, or 6.3 percent, to $80.39.

Though the credit market is tighter than it was earlier in the year, companies still appear to have an appetite for deal-making -- which often involves taking on debt.

"We find it encouraging that there were two major buyouts this morning. It shows that the credit markets are firming up and companies are coming back into play," Detrick said.

Last week, the Dow and the S&P both rose to new records as investors sensed that corporations are likely to bounce back from last quarter, and that the economy is unlikely to fall into recession. The Labor Department's jobs report Friday said payrolls increased in September by a net 110,000, and that the August jobs climate was better than previously reported.

Bob Doll at BlackRock Inc. pointed out that jobs growth is still at its lowest level in many years.

"With the U.S. economy continuing to grow at a relatively slow pace, the main risk to equities appears to be the earnings backdrop," Doll wrote in a note. "We are at the cusp of the third-quarter reporting season, and expectations are for earnings to be in the mid-single digits, the slowest pace since 2003."

Many analysts predict third-quarter percentage growth to be in the low-to-mid single digits, but the S&P forecasts a modest decline in total earnings per share for S&P 500 companies. S&P, along with many other market watchers, anticipates double-digit percentage growth in the fourth quarter.

Ryder fell $3.33, or 6.8 percent, to $45.92 after cutting its earnings forecasts.

Light, sweet crude tumbled fell $2.20 to $79.02 per barrel on the New York Mercantile Exchange. Falling oil prices can be taken both positively and negatively by the stock market: they tend to boost consumer spending, but they dampen energy company profits.

Gold fell as the dollar rose against major rival currencies.

Overseas, markets in Japan were closed for a holiday. Britain's FTSE 100 fell 0.83 percent, Germany's DAX index fell 0.35 percent, and France's CAC-40 declined 0.24 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +120.80 points	+0.86% on Tuesday October 9:

Sym Last........ ........Change..........
Dow	14,164.53	+120.80	+0.86%
-- Day's Range:	14034.39 - 14166.97
-- 52wk Range:	11,759.40 - 14,169.50
Nasdaq	2,803.91	+16.54	+0.59%
-- Day's Range:	2784.52 - 2806.41
-- 52wk Range:	2,292.29 - 2,787.37	
S&P 500	1,565.15	+12.57	+0.81%
-- Day's Range:	1551.81 - 1565.27
-- 52wk Range:	1,343.57 - 1,561.91
30-yr Bond	4.8640%	+0.0030
-- Day's Range:	4.8400 - 4.8860
-- 52wk Range:	4.525 - 5.408
NYSE Volume	2,932,088,250
Nasdaq Volume	1,928,553,750

Overseas, Japan's Nikkei stock average rose 0.56. Britain's FTSE 100 rose 1.14 percent, Germany's DAX index rose 0.08 percent, and France's CAC-40 advanced 0.56 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,615.40	+74.50	+1.14%
DAX.......	7,980.44	+6.07	+0.08%
CAC 40...	5,861.93	+32.53	+0.56%

*Asia*
Symbol..... Last............ .....Change.......
Hang Seng...	28,228.04	+457.75	+1.65%

*Dow, S&P 500 Hit New Records-*
http://biz.yahoo.com/ap/071009/wall_street.html
*Stocks Bound Higher on Rate Cut Hope*
Tuesday October 9, 5:40 pm ET
By Joe Bel Bruno, AP Business Writer
*Stocks Advance After Fed Minutes Give Rate Cut Hope; Dow Sets New Records*

NEW YORK (AP) -- Wall Street advanced sharply Tuesday as investors interpreted minutes from the Federal Reserve's last meeting as indicating the central bank is ready to keep cutting interest rates to boost the economy. The Dow Jones industrial average and Standard & Poor's 500 index reached new record highs.

The minutes from the Federal Open Market Committee's Sept. 18 meeting, when Fed governors voted unanimously for a half-point cut, also showed that officials were concerned that the weakness in the dollar could lead to higher inflation. But the Fed -- signaling it is more willing to intervene -- also said the economic outlook was uncertain because of the summer's credit crisis, and that there were still risks to growth that justified lower rates.

The major indexes were little changed just before the minutes came out, then rose sharply. Investors were hoping that the Fed would lean toward future rate cuts; central bankers will meet again Oct. 30-31.

"This adds fuel to the fire that the Fed is going to try and reinvigorate the economy with further cuts, and that's what they are committed to," said Richard E. Cripps, chief market strategist for Stifel Nicolaus. "The likelihood of having a second cut either this month or at the December meeting seems greater than before the minutes."

Further, Federal Reserve Bank of St. Louis President William Poole said during a speech Tuesday he believes the financial markets are "still fragile" from weakening credit conditions, but that it appears to be stabilizing. San Francisco Federal Reserve Bank President Janet Yellen said in a speech the central bank must focus on "how financial market developments are likely to affect employment, output and inflation."

The Dow rose 120.80, or 0.86 percent, to 14,164.53, eclipsing the previous record close of 14,087.55 reached Oct. 1. The Dow had a new trading high as well, rising to 14,166.97.

The S&P 500 rose 12.57, or 0.81 percent, to a record close of 1,565.15. It surpassed the previous record close of 1,557.59, reached last Friday, and also hit a new trading high of 1,565.26.

The Nasdaq composite index rose 16.54, or 0.59 percent, to 2,803.91. This is the first time the technology-heavy index closed above 2,800 since January 2001. It is lagging the other big indexes because it was severely over-inflated by the dot-com boom, and it isn't expected to reach its record high close of 5,048.62 anytime soon.

Bonds slipped after the Fed minutes were released, with the 10-year Treasury note yield -- which moves inversely to its price -- rising to 4.65 percent from 4.62 percent before the minutes' release. The Treasury market was closed Monday for Columbus Day, and its yield was 4.64 percent on Friday.

While Wall Street was focused on a possible rate cut, bond investors believed the Fed's economic outlook is uncertain.

The dollar was generally lower against other major currencies, while gold prices rose. Light, sweet crude rose $1.24 to $80.26 on the New York Mercantile Exchange.

Investors have been waiting for any clue about the Fed's plans for the rest of the year, with most economists expecting a rate cut before the year is out. However, those hopes were somewhat dashed on Friday after the government reported better-than-expect employment numbers that eased fears the economy would slide into a recession.

Policymakers during the Sept. 18 meeting believed that "some further slowing of employment growth was likely." They also felt -- before seeing the jobs report -- that a further slowing in employment was likely this year.

"The Fed is in a pretty good situation right now," said Ed Peters, chief investment officer at PanAgora Asset Management. "They want a clear direction, they don't like when things are too much in the middle, and they are getting some pretty clear signs."

He said most analysts are now focused on the pace of third-quarter earnings, which unofficially started after the closing bell on Tuesday when Alcoa Inc. reported results. The aluminum producer said profit rose 3 percent, though sales fell from the year-ago period.

The results fell short of Wall Street expectations. Alcoa, which rose $1.42, or 3.7 percent, to $39.72 during the regular session, gave up 71 cents in after-hours trading.

Meanwhile, Yum Brands Inc. rose $1.82, or 5 percent, to $38.11 after the company on Monday reported stronger-than-epxected third-quarter profits. While revenue in the U.S. declined, strong international sales boosted results.

Molson Coors Co. shares rose $5.32, or 10.4 percent, to $56.15 after the brewer said it plans to combine its U.S. brewing operations with SABMiller PLC in an effort to compete better against industry leader Anheuser-Busch. The joint venture will be known as MillerCoors and will have responsibility for selling brands including Miller Lite, Miller Genuine Draft, Coors, Coors Light and Molson Canadian in the U.S.

SABMiller shares, which trade on the London Stock Exchange, rose 1.4 percent, to 1,487 pence.

NBC Universal said Tuesday it is buying cable television network Oxygen Media for approximately $925 million. General Electric Co., the parent of NBC, rose 49 cents to $42.02.

Google Inc. rose again Tuesday after closing above $600 for the first time Monday. The stock rose $5.57 to $615.18.

Advancing issues outnumbered decliners by about 2 to 1 on the New York Stock Exchange, where consolidated volume came to 2.80 billion shares, up from 2 billion shares on Monday.

The Russell 2000 index of smaller companies rose 5.58, or 0.66 percent, to 845.72.

Overseas, Japan's Nikkei stock average rose 0.56. Britain's FTSE 100 rose 1.14 percent, Germany's DAX index rose 0.08 percent, and France's CAC-40 advanced 0.56 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by -85.84 points -0.61% on Wednes October 10:

Sym Last........ ........Change..........
Dow	14,078.69	-85.84	-0.61%
-- Day's Range:	14009.51 - 14165.02
-- 52wk Range:	11,762.70 - 14,198.80
Nasdaq	2,811.61	+7.70	+0.27%
-- Day's Range:	2795.98 - 2813.67
-- 52wk Range:	2,292.29 - 2,806.41
S&P 500	1,562.47	-2.68	-0.17%
-- Day's Range:	1555.46 - 1565.36
-- 52wk Range:	1,343.57 - 1,565.26
30-yr Bond	4.8630%	-0.0010
-- Day's Range:	4.8350 - 4.8870
-- 52wk Range:	4.525 - 5.408
NYSE Volume	3,049,359,500
Nasdaq Volume	1,980,291,250

*Overseas,*
Japan's Nikkei stock average rose 0.10 percent. Britain's FTSE 100 closed up 0.27 percent, Germany's DAX index rose 0.08 percent, and France's CAC-40 fell 0.40 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,633.00	+17.60	+0.27%
DAX	7,986.57	+6.13	+0.08%
CAC 40	5,838.49	-23.44	-0.40%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	17,177.89	+17.99	+0.10%
Hang Seng	28,569.33	+341.29	+1.21%
Straits Times	3,814.45	-51.30	-1.33%

*Dow Closes Lower, Nasdaq Ends Higher*
http://biz.yahoo.com/ap/071010/wall_street.html?.v=46
Wednesday October 10, 6:34 pm ET
By Tim Paradis, AP Business Writer
*Stocks Finish Mixed As Profit Warnings and News From Alcoa, Boeing Drag Down Dow Index*

NEW YORK (AP) -- Wall Street stumbled through a lopsided session Wednesday, closing mixed as profit warnings and news from blue chip names Alcoa Inc. and Boeing Co. dragged down the Dow Jones industrial average but largely spared technology stocks.

A pullback was to be expected after the Dow and the Standard & Poor's 500 index finished at new highs Tuesday amid enthusiasm over comments from Federal Reserve policymakers about interest rates, but corporate news appeared to hasten Wednesday's slide.

Declines by Dow components Boeing and Alcoa, among others, hurt the 30-stock index. Meanwhile, International Paper Co. and Chevron Corp. moved lower on profit news.

With investors thumbing through fresh quarterly results and corporate announcements, the latest economic readings did little to dislodge the dichotomy between blue chips and tech stocks. A report showed inventories among U.S. wholesalers ticked up in August, while a trade group for real estate agents warned the drop in sales of existing homes this year will be steeper than had been expected.

The stock market's uneven but still relatively calm trading Wednesday followed a surge the day before that was sparked by release of the minutes from the Fed's last meeting. Wall Street initially was ebullient that the Fed didn't appear to rule out further rate cuts but, on reflection, some investors seemed to be questioning whether that response was a little too optimistic.

"People are looking backward at what the Fed was discussing to try and discern whether or not we're in a recession," said Kim Caughey, equity research analyst at Fort Pitt Capital Group. "Looking in the rearview mirror isn't going to give us that clarity because its history, so instead I'm really looking forward to what corporate earnings will show."

The Dow fell 85.84, or 0.61 percent, to 14,078.69 after rising 120 points on Tuesday.

Broader stock indicators were mixed. The S&P 500 fell 2.68, or 0.17 percent, to 1,562.47, and the technology-laden Nasdaq composite index rose 7.70, or 0.27 percent, to 2,811.61.

Bond prices had a late-session uptick but finished little changed. The yield on the benchmark 10-year Treasury note was unchanged at 4.65 percent, compared with late Tuesday. The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude rose $1.04 to settle at $81.30 per barrel on the New York Mercantile Exchange following word that workers at Chevron facilities in Nigeria had staged a surprise strike and by a report that demand for gasoline is up.

Wednesday's session came as investors tried to determine whether the Fed will make a move when it meets Oct. 30-31. Last month's surprise half-point rate cut helped stoke a recovery in stocks that were pummeled this summer amid concerns about tight access to credit and an economic slowdown.

But corporate, not broad economic concerns, appeared to attract Wall Street's attention Wednesday. Boeing fell $2.77, or 2.7 percent, to $98.68 after announcing it was delaying initial deliveries of its 787 Dreamliner commercial aircraft by six months. The company cited challenges in finishing assembly of the first airplanes.

"I think you're starting to see people looking at individual stocks," said Bill Schultz, chief investment officer at McQueen, Ball & Associates in Pittsburgh. "Clearly, the large caps have been the place to be here as this rally has taken place. And, one of the areas over time that has been left behind is growth stocks."

Alcoa disappointed investors after it reported a smaller-than-expected 3 percent profit, while revenue fell. But excluding a boost to its bottom line from the sale of a stake in a Chinese aluminum company, Alcoa's results fell short of Wall Street's expectations. Alcoa fell 99 cents, or 2.5 percent, to $38.73.

International Paper lowered its projection for how much it expects to take in from sales of land in the third quarter, which sent shares falling 88 cents, or 2.3 percent, to $36.18.

Chevron fell 72 cents to $92.08 after the company warned third-quarter profit will come in well below the $5.4 billion it earned in the second quarter.

However, Wall Street also received some upbeat news when Costco Wholesale Corp. reported better-than-expected results. Shares of the warehouse retailer gave a boost to the Nasdaq, rising $5.82, or 9.2 percent, to $69.13.

Declining issues outnumbered advancers by about 6 to 5 on the New York Stock Exchange, where consolidated volume came to 2.96 billion shares, up from 2.08 billion Tuesday.

The Russell 2000 index of smaller companies fell 0.53, or 0.06 percent, to 845.19.

Overseas, Japan's Nikkei stock average rose 0.10 percent. Britain's FTSE 100 closed up 0.27 percent, Germany's DAX index rose 0.08 percent, and France's CAC-40 fell 0.40 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by -63.57 points -0.45% on Wednes October 10:
Sym Last........ ........Change..........
Dow	14,015.12	-63.57	-0.45%
-- Day's Range:	13951.07 - 14198.10
-- 52wk Range:	11,762.70 - 14,225.70
Nasdaq	2,772.20	-39.41	-1.40%
-- Day's Range:	2757.76 - 2834.00
-- 52wk Range:	2,292.29 - 2,813.67
S&P 500	1,554.41	-8.06	-0.52%
-- Day's Range:	1546.72 - 1576.09
-- 52wk Range:	1,343.57 - 1,565.42
30-yr Bond	4.8830%	+0.0200
-- Day's Range:	4.8780 - 4.9250
-- 52wk Range:	4.525 - 5.408
NYSE Volume	3,164,326,000
Nasdaq Volume	2,508,693,750

*Overseas,*
Japan's Nikkei stock average closed up 1.64 percent after a rating agency upgraded the country's debt. 
*Europe also rose. *
Britain's FTSE 100 rose 1.38 percent, Germany's DAX index advanced 0.59 percent, and France's CAC-40 rose 0.42 percent.

Europe
Symbol... Last...... .....Change.......
FTSE 100	6,724.50	+91.50	+1.38%
DAX	8,033.69	+47.12	+0.59%
CAC 40	5,862.83	+24.34	+0.42%

Asia
Symbol..... Last............ .....Change.......
Nikkei 225	17,458.98	+281.09	+1.64%
Hang Seng	29,133.02	+563.69	+1.97%
Straits Times	3,875.77	+61.32	+1.61%

*Wall Street Falls As Tech Takes a Hit*
http://biz.yahoo.com/ap/071011/wall_street.html?.v=35
Thursday October 11, 5:07 pm ET
By Madlen Read, AP Business Writer
*Stocks Fall As Worries About Inflation, Tech Sector Prompt Traders to Book Profits*

NEW YORK (AP) -- Stocks retreated from lofty heights Thursday after a European Central Bank official pointed to rising price risks and a major Wall Street bank lowered its sales expectations for Chinese Internet company Baidu.com.

The news caused traders to take profits, particularly in the technology sector, from big gains made earlier in the session. The Dow Jones industrial average and the Standard & Poor's 500 index fell from record levels that had been reached after Wal-Mart Stores Inc. lifted its profit forecast.

The market turned in the afternoon after ECB governing council member Axel Weber said rising inflation in the euro zone may require additional policy action, according to Dow Jones Newswires. The comments appeared to raise concerns on Wall Street that European growth could slow and that in the United States, inflation could prevent the Federal Reserve from making another rate cut.

Many investors have been betting on another rate reduction from U.S. policy makers, who lowered the target federal funds rate by half a percentage point on Sept. 18 in response to a tightening in the credit markets.

Wall Street's mood was also dampened when JPMorgan Chase & Co. lowered its revenue expectations for Baidu.com Inc., said Kelmoore Strategy Funds portfolio manager Matt Kelmon. That hurt technology companies, which had been rising strongly in recent days.

"Stocks have come a long way really quickly," Kelmon said. "The stocks that have done the best are getting hammered right now."

The Dow sank 63.57, or 0.45 percent, to 14,015.12. Earlier in session, the blue-chip index had soared to a new trading high of 14,198.10.

Broader stock indicators also turned lower after giving back robust gains. The Standard & Poor's 500 index fell 8.06, or 0.52 percent, to 1,554.41. It had reached a new trading high of 1,576.09.

The Nasdaq composite index, which has touched nearly seven-year highs in recent sessions, fell 39.41, or 1.40 percent, to 2,772.20.

The technology-dominated Nasdaq was hurt by Baidu.com, which tumbled $34.39, or 10 percent, to $308.78. Apple Inc., Oracle Corp., Amazon.com, Yahoo Inc. and Intel Corp. also fell.

Bonds pared back their steep losses after stocks fell. The yield on the benchmark 10-year Treasury note, which moves inversely to the price, rose to 4.66 percent from 4.65 percent late Wednesday.

Spiking gold and oil prices heightened some investors' worries about inflation. Light, sweet crude rose $1.78 to $83.08 a barrel on the New York Mercantile Exchange after the government reported an unexpected drop in crude oil inventories and a surprise increase in refinery activity.

At this point, the market is split on whether the Fed will lower rates.

"You kind of have to wait and see," said Stephen Carl, principal and head of equity trading at The Williams Capital Group. He noted that some data -- particularly weak retail sales reports that came out Thursday morning -- show that the economy could be in need of further easing. "The potential is definitely there."

Other reports have shown economic strength, however.

The U.S. trade deficit fell to its lowest level in seven months -- a much better reading than Wall Street expected -- amid record sales of American products. The Commerce Department said the deficit declined to $57.6 billion in August, down 2.4 percent from the July imbalance. Exports rose 0.4 percent to a record $138.3 billion, while imports dropped 0.4 percent to $195.9 billion.

A weakening dollar makes U.S. exports more competitive abroad. On Thursday, the dollar fell versus the euro but rose against the pound and the yen.

Though the stock market's pullback looked dramatic, market watchers said it was to be expected give how far stocks have risen. Less than two months ago, the Dow was below 13,000. Whether the blue-chip index treads further above 14,000 will depend on upcoming third-quarter profit results, and if they indicate U.S. corporate health going forward.

Wal-Mart, the world's largest retailer, raised its third-quarter profit forecast even after reporting its same-store sales, or sales at stores open at least a year, rose a weaker-than-expected 1.4 percent in September.

Wal-Mart, one of the 30 stocks that make up the Dow industrials, jumped $1.31, or 2.9 percent, to $46.90.

The biggest gainer in the Dow was General Motors Corp., which rose $1.86, or 4.9 percent, to $39.99 after union members ratified a new contract with the automaker.

Declining issues outnumbered advancers by about 5 to 3 on the New York Stock Exchange, where volume came to 1.52 billion shares.

The Russell 2000 index of smaller companies fell 10.21, or 1.21 percent, to 834.98.

Overseas, Japan's Nikkei stock average closed up 1.64 percent after a rating agency upgraded the country's debt. Stocks in Europe also rose. Britain's FTSE 100 rose 1.38 percent, Germany's DAX index advanced 0.59 percent, and France's CAC-40 rose 0.42 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +77.96 points	+0.56% on Friday October 12:
Sym Last........ ........Change..........
Dow	14,093.08	+77.96	+0.56%
-- Day's Range:	14013.74 - 14101.77
-- 52wk Range:	11,849.20 - 14,280.00
Nasdaq	2,805.68	+33.48	+1.21%
-- Day's Range:	2778.29 - 2806.18
-- 52wk Range:	2,316.82 - 2,834.00	
S&P 500	1,561.80	+7.39	+0.48%
-- Day's Range:	1554.09 - 1563.03
-- 52wk Range:	1,349.94 - 1,576.09
30-yr Bond	4.9050%	+0.0220
-- Day's Range:	4.8580 - 4.9220
-- 52wk Range:	4.525 - 5.408
NYSE Volume	2,625,664,500
Nasdaq Volume	1,931,167,880

*Overseas,*
Japan's Nikkei stock average closed down 0.73 percent. 
Britain's FTSE 100 rose 0.09 percent, Germany's DAX index rose 0.09 percent, and France's CAC-40 fell 0.32 percent.

Europe
Symbol... Last...... .....Change.......
FTSE 100	6,730.70	+6.20	+0.09%
DAX	8,041.26	+7.57	+0.09%
CAC 40	5,843.95	-18.88	-0.32%

Asia
Symbol..... Last............ .....Change.......
Nikkei 225	17,331.17	-127.81	-0.73%
Hang Seng	28,838.37	-294.65	-1.01%
Straits Times	3,857.25	-18.52	-0.48%

*Stocks Close Slightly Higher, Tech Jumps*
http://biz.yahoo.com/ap/071012/wall_street.html?.v=35
Friday October 12, 4:58 pm ET
By Tim Paradis, AP Business Writer
*Stocks Close Moderately Up After Economic Readings; GM, McDonald's Rise; Tech Climbs*

NEW YORK (AP) -- Wall Street closed out a bumpy week with a moderate advance Friday as tech stocks charged higher on takeover news and other sectors gained on data that indicated the economy is expanding at a healthy pace. The major indexes managed to post gains for the week.

Oracle Corp.'s bid for BEA Systems Inc. helped prop up technology stocks, and gave investors renewed hope that acquisition activity is picking up again after the uncertainty of the summer's credit crisis. Corporate news also boosted some blue chip names: McDonald's Corp. posted higher-than-expected sales and General Motors Corp. said sales in its Latin America, Africa and Middle East region jumped in the third quarter.

Amid the economic data Wall Street mined Friday for signals about the health of the economy, the government reported that retail sales showed a stronger-than-expected gain last month and that wholesale prices jumped in September amid an increase in food and energy costs. Business inventories increased, while consumer sentiment slipped.

"The data seemed to reinforce that the economy is slowing, but perhaps not as precipitously as feared. And that may put the Fed on hold in October," said Derrick Wulf, portfolio manager at Dwight Asset Management Company. He was referring to the next interest-rate decision by Federal Reserve policymakers, who are scheduled to meet Oct. 30-31.

According to preliminary calculations, the Dow Jones industrial average rose 77.96, or 0.56 percent, to 14,093.08.

Broader stock indicators also advanced. The Standard & Poor's 500 index rose 7.39, or 0.48 percent, to 1,561.80. The tech-dominated Nasdaq composite index rose 33.48, or 1.21 percent, to 2,805.68.

The move higher comes a day after a rally fizzled on Wall Street on concerns about price risks and lowered expectations for the Chinese Internet company Baidu.com. Wall Street's advance on Friday helped lift the major indexes to finish the week in positive territory -- the Dow was up 0.19 percent; the S&P 500 rose 0.27 percent and the Nasdaq gained 0.91 percent.

Bonds were slightly lower as fixed-income investors held their positions ahead of the weekend. The yield on the benchmark 10-year Treasury note, which moves inversely to the price, was up at 4.68 percent from 4.66 percent late Thursday.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude rose 61 cents to $83.69 per barrel on the New York Mercantile Exchange. Oil futures moved above $84 per barrel to a fresh trading and settled at a record as well amid concerns that supplies won't meet demand in the fourth quarter.

Economic readings appeared to give a boost to stocks. The Commerce Department report that retail sales rose 0.6 percent in September from August was double the growth economists had been expecting. The report came a day after many national retailers reported seeing sluggish demand in September.

The Labor Department said wholesale prices rose 1.1 percent in September. Excluding often volatile categories of food and energy, wholesale prices edged up by a moderate 0.1 percent.

Inventories held by businesses on shelves and backlots rose 0.1 percent in August, less than the 0.3 percent gain analysts had been expecting.

Consumer sentiment fell in October, according to the Reuters/University of Michigan consumer sentiment reading for mid-October.

Robert Streed, portfolio manager of Northern Trust Select Equity Fund in Chicago, said another reason behind Tuesday's drive higher is renewed optimism about corporate acquisitions. An increase in deals would "inject cash into the system" and push equities higher, he said.

"This is psychologically important because it shows insiders see value in acquiring companies," Streed said. "It also injects cash into the system."

Oracle, the business software maker, confirmed it offered to buy BEA Systems for more than $6.66 billion. Oracle said it sent a letter to the software maker's board offering $17 per share, a 25 percent premium over Thursday's closing price of $13.62. BEA surged $5.20, or 38 percent, to $18.82, while Oracle fell 2 cents to $22.44.

In other corporate news, McDonald's said its global same-store sales, or sales at stores open at least a year, rose a stronger-than-expected 5.9 percent in September. The nation's No. 1 hamburger chain also forecast earnings for the quarter well ahead of Wall Street expectations. McDonald's rose 77 cents to $57.02.

GM rose $2.65, or 6.6 percent, to $42.64 after posting a 22 percent increase in sales in regions such as Latin America. The move comes after GM shares jumped Thursday following a decision by union members to ratify a new contract with the automaker.

GE's third-quarter earnings rose 14 percent as its energy and transportation businesses did well. Many investors regard GE as a bellwether for the U.S. economy because of the conglomerate's array of businesses -- from finance to engines to NBC Universal. GE fell 57 cents to $41.03.

Citigroup Inc., which like McDonald's and GE is one of the 30 stocks that make up the Dow industrials, fell 45 cents to $47.87 after announcing it would combine its investment banking and alternative investments divisions into a single business run by a former Morgan Stanley executive. Vikram Pandit, who has been in charge of Citi's alternative investments unit since joining the company earlier this year, will lead the new Institutional Clients Group.

Advancing issues outnumbered decliners by about 2 to 1 on the New York Stock Exchange, where volume came to 1.06 billion shares, compared to 1.52 billion on Thursday.

The Russell 2000 index of smaller companies rose 6.19, or 0.74 percent, to 841.17.

Overseas, Japan's Nikkei stock average closed down 0.73 percent. Britain's FTSE 100 rose 0.09 percent, Germany's DAX index rose 0.09 percent, and France's CAC-40 fell 0.32 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## dutchie

G'day Bigdog

Great thread.

Appreciate the effort in compiling the info.

The Dow Jones usually indicates which way the ASX will jump each day.

Cheers

Dutchie


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by -108.28 points	-0.77% on Monday October 15:
Sym Last........ ........Change..........
Dow	13,984.80	-108.28	-0.77%
-- Day's Range:	13904.32 - 14118.52
-- 52wk Range:	11,849.20 - 14,280.00
Nasdaq	2,780.05	-25.63	-0.91%
-- Day's Range:	2764.68 - 2811.66
-- 52wk Range:	2,316.82 - 2,834.00
S&P 500	1,548.71	-13.09	-0.84%
-- Day's Range:	1540.81 - 1564.74
-- 52wk Range:	1,356.87 - 1,576.09
30-yr Bond	4.9070%	+0.0020
-- Day's Range:	4.8980 - 4.9280
-- 52wk Range:	4.525 - 5.408
NYSE Volume	3,139,287,000
Chart for NYSE Volume
Nasdaq Volume	2,045,180,250
Chart for Nasdaq Volume

*Overseas,*
Japan's Nikkei stock average closed up 0.16 percent. 
Britain's FTSE 100 fell 1.28 percent, Germany's DAX index fell 0.89 percent, and France's CAC-40 fell 0.62 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,644.50	-86.20	-1.28%
DAX	7,969.47	-71.79	-0.89%
CAC 40	5,807.44	-36.51	-0.62%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	17,358.15	+26.98	+0.16%
Hang Seng	29,540.78	+702.41	+2.44%
Straits Times	3,862.02	+4.77	+0.12%

http://biz.yahoo.com/ap/071015/wall_street.html?.v=38
*Stocks Fall Amid Unease Over Bad Debt*
Monday October 15, 6:35 pm ET
By Tim Paradis, AP Business Writer
*Wall Street Falls Amid Unease Over Bad Debt; Oil Settles Above $86*

NEW YORK (AP) -- Stocks pulled back sharply Monday as news that major U.S. banks will set up a fund to help bail out the credit markets stirred concerns about bad debt and as oil prices surged to $86 per barrel for the first time. The Dow Jones industrial average lost more than 100 points.

The stock market's pullback comes not only amid concerns about debt and rising energy costs but as investors await third-quarter reports due this week from more than 80 components of the Standard & Poor's 500 index.

The concerns about banking came after Citigroup Inc., the biggest U.S. bank, reported that third-quarter results fell 57 percent. The company said it lost more than $3 billion in mortgage-backed security losses, leveraged debt write-downs and fixed-income trading losses.

The bank -- along with JPMorgan Chase & Co. and Bank of America Corp. -- announced the creation of a fund used to help revive the asset-backed commercial paper market. The fund will buy assets from structured investment vehicles, also known as SIVs, which buy corporate bonds and subprime mortgage debt. The bailout was orchestrated by the Treasury Department to avoid a fire sale in the market.

"It's a reminder that this problem never was entirely put to bed. There may be financial institutions out there that are in more trouble than we thought they were," said Aaron Gurwitz, co-head of portfolio strategy at Lehman Brothers Investment Management, referring to concerns about bad debt. He also noted that Monday's pullback wasn't unusual given the back-and-forth moves in the major indexes in recent sessions.

The Dow fell 108.28, or 0.77 percent, to 13,984.80.

Broader stock indicators also declined. The S&P 500 index fell 13.09, or 0.84 percent, to 1,548.71, and the Nasdaq composite index fell 25.63, or 0.91 percent, to 2,780.05.

Bonds fell following a better-than-expected regional economic reading in New York. The yield on the benchmark 10-year Treasury note rose to 4.68 percent from 4.65 percent late Friday. The dollar was mixed against most other major currencies, while gold prices rose.

Light, sweet crude rose to record levels, crossing $86 per barrel for the first time and rising as high as $86.22 in trading. Oil settled up $2.44 at $86.13 per barrel on the New York Mercantile Exchange as after the Organization of Petroleum Exporting Countries said crude production by countries that aren't OPEC members is probably falling despite rising demand.

The week's economic calendar is light. On Monday, the New York Empire State Index -- a regional economic indicator published by the Federal Reserve Bank of New York -- came in better than expected for October. The index rose to 28.75 from September's 14.70.

Investors are keeping tabs on corporate and economic data as they try to determine how well profits will fare.

"All those guys are tempering their expectations because the economy is slowing," said Thomas Nyheim, vice president and portfolio manager at Christiana Bank & Trust Co., referring to Wall Street's estimation for moderate growth in third-quarter profits.

The concerns over soured loans drew comments from Treasury Secretary Henry Paulson, who said in a speech Monday that the troubles with SIVs might require regulators to step in to stave off future problems, according to Dow Jones Newswires.

Wall Street's unease Monday follows a period of calm after worries about credit roiled markets around the world over the summer. During August and into September, investors were concerned that mortgages made to borrowers with poor credit that had been bundled together and sold off as investments would resurface and cause widespread losses. Indeed, some hedge funds and other investment vehicles worldwide that held subprime debt succumbed to the soured loans. It wasn't until the Fed stepped in with reductions in short-term interest rates and the rates it charges to loan to banks that the credit markets began to show signs of recovery.

Citigroup fell $1.63, or 3.4 percent, to $46.24 after the bank raised its loan-loss provisions by $2.24 billion -- a higher amount than it estimated a week ago -- amid expectations of further deterioration in consumer credit. The bank also said it would delay repurchases of its shares.

Medtronic Inc. fell $6.33, or 11 percent, to $50 after the company said it is halting distribution of wires that connect some of its defibrillators to patients' hearts after learning they may have contributed to five deaths.

Biogen Idec Inc. jumped $13.08, or 19 percent, to $82.51 after the company said it may sell itself and that it has drawn interest from potential buyers.

Declining issues outnumbered advancers by about 8-to-3 on the New York Stock Exchange, where consolidated volume came to 3.03 billion shares compared with 2.71 billion shares traded Friday.

The Russell 2000 index of smaller companies fell 11.81, or 1.40 percent, to 829.36.

Overseas, Japan's Nikkei stock average closed up 0.16 percent. Britain's FTSE 100 fell 1.28 percent, Germany's DAX index fell 0.89 percent, and France's CAC-40 fell 0.62 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by -71.86 points -0.51% on Tuesday October 16:
Sym Last........ ........Change..........
Dow	13,912.94	-71.86	-0.51%
-- Day's Range:	13877.90 - 13992.03
-- 52wk Range:	11,849.20 - 14,280.00
Nasdaq	2,763.91	-16.14	-0.58%
-- Day's Range:	2759.43 - 2781.80
-- 52wk Range:	2,316.82 - 2,834.00
S&P 500	1,538.53	-10.18	-0.66%
-- Day's Range:	1536.29 - 1547.81
-- 52wk Range:	1,356.87 - 1,576.09
30-yr Bond	4.9120%	+0.0050
-- Day's Range:	4.8810 - 4.9220
-- 52wk Range:	4.525 - 5.408
NYSE Volume	3,182,911,250
Nasdaq Volume	2,137,350,000

*Overseas*
Japan's Nikkei stock average fell 1.27 percent; Hong Kong's Hang Seng index fell 1.98 percent; Britain's FTSE 100 fell 0.45 percent; Germany's DAX index fell 0.09 percent; and France's CAC-40 fell 0.57 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,614.30	-30.20	-0.45%
DAX	7,962.64	-6.83	-0.09%
CAC 40	5,774.36	-33.08	-0.57

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	17,137.92	-220.23	-1.27%
Hang Seng	28,954.55	-586.23	-1.98%
Straits Times	3,810.72	-51.30	-1.33%

http://biz.yahoo.com/ap/071016/wall_street.html?.v=30
*Stocks Retreat on Bernanke Comments*
Tuesday October 16, 5:31 pm ET
By Madlen Read, AP Business Writer
*Wall Street Falls After Bernanke Comments Add to Housing, Credit Worries, and Oil Prices Jump*

NEW YORK (AP) -- Wall Street sank for a second straight session Tuesday after Federal Reserve Chairman Ben Bernanke said the slumping housing market remains a "significant drag" on the economy.

Bernanke's speech Monday night in New York elevated concerns that the summer's credit tightness might persist into the winter -- a sobering thought for investors, who are sifting through mixed third-quarter earnings and watching energy costs rise.

"First of all, the worry is we're getting more bad news on housing. No. 2 is higher oil prices. That's a pretty bad combination," said Hugh Johnson, chief investment officer of Johnson Illington Advisors.

Crude oil prices spiked to another record above $88, and a National Association of Home Builders' index that tracks developers' expectations of future home sales fell for the eighth consecutive month to the lowest point since January 1985. Also Tuesday, Treasury Secretary Henry Paulson echoed Bernanke's concerns, saying housing is a significant risk to the economy.

The uncertainty on Wall Street about the economic outlook "comes at a time when earnings results are not particularly exciting -- in fact, are dismal," Johnson said.

A day after Citigroup Inc. reported a steep third-quarter profit decline and announced plans with other banks to set up a fund to bail out the credit markets, some more banks released disappointing results.

Wells Fargo & Co. shares fell nearly 4 percent after the bank said third-quarter earnings increased by less than analysts anticipated and that it boosted loan-loss reserves in preparation for more problems in consumer credit. KeyCorp shares declined nearly 6 percent after the Midwest regional bank posted a 33 percent drop in third-quarter profit. U.S. Bancorp also reported a dip in third-quarter earnings.

The Dow Jones industrial average fell 71.86, or 0.51 percent, to 13,912.94, after falling more than 100 points earlier in the session.

Broader indicators also declined. The Standard & Poor's 500 index slid 10.18, or 0.66 percent, to 1,538.53, and the Nasdaq composite index dipped 16.14, or 0.58 percent, to 2,763.91.

The technology-dominated Nasdaq could get a boost, though, on Wednesday: Intel Corp. and Yahoo Inc. posted better-than-expected third-quarter results after the bell Tuesday, and their stocks gained sharply in after-market trading.

Bond prices rose as investors pulled money out of stocks. The yield on the 10-year Treasury note, which moves inversely to the price, fell to 4.66 percent from 4.68 percent at Monday's close.

The dollar rose against most currencies. Gold also rose.

On Monday, the Dow and the S&P posted their biggest point drops in five weeks; just last week, the two indexes touched record highs.

"The relief rally that we've enjoyed since Aug. 16, the day before the Fed cut the discount rate, has been an impressive one. And it will probably still push stock prices higher the rest of the year," said Edward Yardeni, an economist who runs Yardeni Research in Great Neck, N.Y.

But, he added, "the first batch of earnings news for the third quarter gives some reason for concern, particularly for the banks, who are probably going to continue to have problems with their own portfolios."

Bernanke said Monday night the deepening housing slump will probably keep dragging on economic growth, but he again pledged to "act as needed" to help the financial markets recover from their freeze. He also said inflation remains in check -- which could persuade policymakers to lower rates for the second month in a row at their Oct. 30-31 meeting.

But while core inflation -- which excludes volatile food and energy prices -- is mild, oil prices are pushing further into uncharted territory on speculation about supply disruptions.

Crude futures rose $1.48 to a record close of $87.61 a barrel on the New York Mercantile Exchange, after briefly surpassing $88.

Declining issues outnumbered advancers by about 8 to 3 on the New York Stock Exchange. Volume came to 1.29 billion shares, the same as Monday.

Yahoo reported earnings of 11 cents a share, well ahead of analysts' forecasts for 8 cents. After falling $1.17 to $26.69 during the regular session, the company's stock was up 8 percent at $29.01 in after-hours trading.

Intel, meanwhile, had earnings of 31 cents per share, a penny ahead of expectations. After falling 27 cents to $25.48 in regular trading, Intel's stock was quoted at $26.80, up 5 percent in after-hours trading.

Most financial and housing-related stocks fell, as did retailers.

A couple bright spots in the financial sector were State Street Corp., a trust bank that posted a profit rise of 29 percent on strong revenue from servicing fees and trading services, and Bear Stearns Cos. The investment arm of China's cabinet is planning a bid for a stake in the brokerage.

State Street rose $5.75, or 8.3 percent, to $74.68.

Bear Stearns rose $2.36, or 2 percent, to $123.05.

Overseas, Japan's Nikkei stock average fell 1.27 percent; Hong Kong's Hang Seng index fell 1.98 percent; Britain's FTSE 100 fell 0.45 percent; Germany's DAX index fell 0.09 percent; and France's CAC-40 fell 0.57 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by -20.40 points	-0.15% on Wednesday October 17:
Sym Last........ ........Change..........
Dow	13,892.54	-20.40	-0.15%
-- Day's Range:	13774.67 - 14012.84
-- 52wk Range:	11,849.20 - 14,280.00

Nasdaq	2,792.67	+28.76	+1.04%
-- Day's Range:	2755.26 - 2803.96
-- 52wk Range:	2,316.82 - 2,834.00

S&P 500	1,541.24	+2.71	+0.18%
-- Day's Range:	1526.01 - 1550.66
-- 52wk Range:	1,356.87 - 1,576.09

30-yr Bond	4.8090%	-0.1030
-- Day's Range:	4.8000 - 4.9140
-- 52wk Range:	4.525 - 5.408

NYSE Volume	3,578,473,750
Nasdaq Volume	2,432,270,250

*Overseas*
Japan's Nikkei stock average closed down 1.07 percent. Britain's FTSE 100 rose 0.96 percent, Germany's DAX index rose 0.29 percent, and France's CAC-40 rose 0.77 percent.

*Europe*
Symbol... Last...... .....Change.......
TSE 100	6,677.70	+63.40	+0.96%
DAX	7,985.41	+22.77	+0.29%
CAC 40	5,818.80	+44.44	+0.77%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	16,955.31	-158.89	-1.07%
Hang Seng	29,298.71	+344.16	+1.19%
Straits Times	3,839.73	+29.01	+0.76%

http://biz.yahoo.com/ap/071017/wall_street.html?.v=35
*Stocks Close Mixed on Earnings Worries*
Wednesday October 17, 5:22 pm ET
By Madlen Read, AP Business Writer
*Stocks Mixed Amid Concerns About Corporate Profits, Housing and Credit Market Problems
*
NEW YORK (AP) -- Wall Street ended a volatile session mixed Wednesday as investors' concerns about sluggish housing and tight credit intensified their uneasiness over a motley batch of corporate profits. Rising oil prices only added to the market's malaise.

Earnings reports from Yahoo Inc. and Intel Corp. were upbeat and incited some buying in the technology sector, which drove the Nasdaq composite index sharply higher.

But the Dow Jones industrial average dipped, with investors uncertain about how well corporate America overall will fare going forward -- particularly after International Business Machines Corp. reported modest software sales and United Technologies Group Inc. said 2008 will be challenging.

Peter Dunay, an investment strategist with New York-based Leeb Capital Management said third-quarter earnings are expected to be weak, and lackluster forecasts for future quarters are unnerving investors.

"We're not getting very strong guidance numbers, and at the same time last week we were at new highs," Dunay said.

The Dow and the Standard & Poor's 500 index both hit records last week, but Wall Street has pulled back cautiously since then, exhibiting nervousness about the slowing economy. On Wednesday, the Federal Reserve said in its Beige Book that growth cooled in the third quarter. Investors are also jittery about accelerating inflation -- which could prevent the Fed from lowering rates again -- after oil prices momentarily touched a fresh high of $89 per barrel.

And the lending landscape continues to deteriorate. Standard & Poor's cut the ratings on 1,713 classes of securities backed by mortgages issued in the first six months of this year. They were valued at $23.35 billion.

The Dow fell 20.40, or 0.15 percent, to 13,892.54, paring the session's worst losses. The Dow fell more than 130 points in earlier trading.

Broader indexes rose. The S&P 500 index climbed 2.71, or 0.18 percent, to 1,541.24, while the Nasdaq gained 28.76, or 1.04 percent, to 2,792.67.

Wall Street's mixed movements come after two days of broad declines.

In another sign that the economy could weaken further, the Commerce Department said new home construction slowed to the weakest pace in 14 years during September. Bond prices rose sharply on the news. The yield on the 10-year Treasury note, which moves inversely to the price, fell to 4.55 percent from 4.66 percent late Tuesday.

Investor expectations for the third quarter had been low, given the turmoil in the financial and credit markets during the summer. Some early profit reports -- particularly in the financial sector -- proved disappointing. Strong results from component companies of the Dow -- including JPMorgan Chase & Co. and Intel Corp. -- didn't offset investor unease over results from two other components, IBM and United Technologies.

United Technologies fell $2.85, or 3.6 percent, to $76.80, despite a 20 percent rise in profit. The company said it sees international growth moderating and more slowdown in the U.S. economy.

IBM lost $3.82, or 3.2 percent, to $115.78. The computer maker posted a 6 percent profit rise, but investors focused on the modest 3 percent rise in software revenue.

JPMorgan rose $1.26, or 2.8 percent, to $46.37 on the bank's 2 percent rise in profit despite big writedowns related to soured mortgages and leveraged corporate debt.

Yahoo said late Tuesday that third-quarter profits fell less than analysts had expected, raising hopes of a turnaround. The Internet search company gained $2.13, or 8 percent, to $28.82.

Chipmaker Intel posted a 43 percent increase in third-quarter earnings. The company's shares jumped $1.24, or 5 percent, to $26.72.

Beyond earnings, investors absorbed two economic reports that appeared to give the Fed more wiggle room in cutting rates. Central bankers will next meet Oct. 30-31.

U.S. consumer prices rose modestly last month, suggesting there are still inflation risks, but they likely wouldn't get in the way of an interest rate cut. The consumer price index rose 0.3 percent in September, reversing August's 0.1 percent decline. The core CPI, which excludes often volatile food and energy prices -- and which the Fed monitors -- advanced 0.2 percent for a fourth-straight month.

Although core inflation remains tame, surging food and energy costs could trickle down, heating up overall inflation and attracting the Fed's attention.

"You have to wonder about whether the Fed is still going to be accommodative," said Jack Caffrey, equities strategist at J.P. Morgan Private Bank.

The Russell 2000 index of smaller companies rose 1.54, or 0.19 percent, to 824.89.

Oil gave up the gains of an earlier rally. A barrel of light, sweet crude lost 22 cents to $87.29 on the New York Mercantile Exchange.

Gold prices rose, and the dollar was mixed against other major currencies.

Advancing issues narrowly outnumbered decliners on the New York Stock Exchange, where volume came to 1.42 billion shares, up from 1.29 billion Tuesday.

Overseas, Japan's Nikkei stock average closed down 1.07 percent. Britain's FTSE 100 rose 0.96 percent, Germany's DAX index rose 0.29 percent, and France's CAC-40 rose 0.77 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by -3.58 points -0.03% on Thursday October 18:
Sym Last........ ........Change..........
Dow	13,888.96	-3.58	-0.03%
-- Day's Range:	13820.35 - 13913.75
-- 52wk Range:	11,881.30 - 14,280.00

Nasdaq	2,799.31	+6.64	+0.24%
-- Day's Range:	2770.11 - 2803.26
-- 52wk Range:	2,316.82 - 2,834.00	

S&P 500	1,540.08	-1.16	-0.08%
--  Day's Range:	1531.76 - 1542.79
52wk Range:	1,360.95 - 1,576.09

30-yr Bond	4.7790%	-0.0300
-- Day's Range:	4.7730 - 4.7990
-- 52wk Range:	4.525 - 5.408

NYSE Volume	3,234,455,500
Nasdaq Volume	2,071,461,880

*Overseas*
Japan's Nikkei stock average closed up 0.89 percent. Britain's FTSE 100 fell 1.02 percent, Germany's DAX index fell 0.80 percent, and France's CAC-40 fell 0.89 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,609.40	-68.30	-1.02%
DAX	7,921.40	-64.01	-0.80%
CAC 40	5,767.24	-51.56	-0.89%

Asia
Symbol..... Last............ .....Change.......
Nikkei 225	17,106.09	+150.78	+0.89%
Hang Seng	29,465.05	+166.34	+0.57%
Straits Times	3,809.69	-30.04	-0.78%

http://biz.yahoo.com/ap/071018/wall_street.html?.v=38
*Stocks Little Changed After BofA Report*
Thursday October 18, 5:45 pm ET
By Joe Bel Bruno, AP Business Writer
*Tentative Buying Helps Wall Street Pare Losses Triggered by BofA Results, Economic Worries*

NEW YORK (AP) -- Wall Street pared its losses to finish mostly flat Thursday but remained uneasy after disappointing results from Bank of America Corp. provided further evidence that the credit crisis is hurting the economy.

The Dow Jones industrial average, which fell as much as 60 points early in the session, rebounded as bargain hunters entered the market, betting Thursday's dismal data could convince the Federal Reserve to lower rates again.

Still, investors remained spooked after BofA -- considered a bellwether for the banking industry because it has branches across the country -- said "significant dislocations" in the capital markets sent third-quarter profits down 32 percent. Citigroup Inc. and Washington Mutual Inc. reported similar results in recent days.

Banks and brokerages have been hurt during the third quarter in the fallout from the subprime mortgage crisis. As people with weak credit defaulted on loans at an alarming rate, it triggered a global aversion for risk that led the credit markets to freeze up.

Treasurys rallied and the dollar fell to a new low against the euro after the Labor Department said the number of newly laid off workers filing claims for unemployment benefits shot up last week by the largest amount since February. The report was far worse than economists expected, and signaled that the labor market could be starting to weaken from a downturn in housing and the global credit turmoil.

"There are so many factors going on right now between the dollar getting crushed, oil moving higher, and news out of the banking sector," said Greg Church, chief investment officer of Church Capital Management. "Yet, it is amazing to me that this market continues to lift its head. The market came back somewhat because there's that whole camp that thinks any bad news is good news that the Fed will lower rates."

The Dow fell 3.58, or 0.03 percent, to 13,888.96.

Broader indexes finished mixed. The Standard & Poor's index fell 1.16, or 0.08 percent, to 1,540.08, while the technology-heavy Nasdaq composite index added 6.64, or 0.24 percent, to 2,799.31. Tech shares have outperformed this week as some investors lately regard profits at some of these companies to better withstand an economic slowdown.

The yield on the benchmark 10-year Treasury note, which moves inversely to prices, fell to 4.50 percent from 4.55 percent late Wednesday. Treasury prices rose again after rallying sharply Wednesday amid growing signs of trouble in the housing sector.

Also, the Philadelphia Federal Reserve reported that its October manufacturing index came in weaker than expected. The report showed a slowdown in growth for the regional economy, and some inflationary pressures.

Sluggish economic data could help motivate the U.S. Federal Reserve to cut interest rates at its Oct. 30-31 meeting. Central bankers cut rates by a half point at their September meeting.

Oil prices continued their advance amid further tensions between Turkey and Kurdish rebels in Northern Iraq. Light, sweet crude rose $2.07 to settle at a record $89.47 a barrel on the New York Mercantile Exchange.

Disappointing results from BofA made some investors wary about quarterly results yet to arrive.

"Washington Mutual and Bank of America announcements reminds people that there is a housing issue out there, and that its tough to analyze on how bad it can get before it gets better," said John C. Forelli, portfolio manager for Independence Investment. "What we need is some confidence that other parts of the economy are reaccelerating as a result of the rate cuts."

Technology could be one bright for uneasy investors Friday. After Thursday's closing bell, Google Inc. posted a 46 percent jump in its third-quarter profit, topping the big expectations that have elevated the Internet search leader's stock price by more $100 during the past month. Google, which ended the regular session up $6.14 at $639.62, rose in heavy after-hours trading.

About 60 members of the Standard & Poor's 500 index have reported quarterly results so far this week. Most of the attention has been on the nation's biggest banks, which reported mostly disappointing results on write-downs from leveraged loans, mortgages, and consumer credit.

Bank of America fell $1.18, or 2.4 percent, to $48.85.

Washington Mutual tumbled $2.55, or 7.7 percent, to $30.52 after it reported quarterly profit plunged 72 percent. The stock hit a 52-week low of $30; its previous low was $31.27.

E-Trade Financial Corp. late Wednesday reported an unexpected loss because of its exposure to credit markets. The discount brokerage's shares tumbled $1, or 8 percent, to $11.47.

The Russell 2000 index of smaller companies edged up 0.14, or 0.02 percent, to 825.03.

Declining issues led advancers by a thin margin on the New York Stock Exchange, where consolidated volume came to 3.13 billion, shares compared with 3.50 billion traded Wednesday.

Overseas, Japan's Nikkei stock average closed up 0.89 percent. Britain's FTSE 100 fell 1.02 percent, Germany's DAX index fell 0.80 percent, and France's CAC-40 fell 0.89 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

We could be in big trouble on Monday!!!!

The NYSE DOW closed LOWER by -366.94 points	-2.64% on Friday October 19:
Sym Last........ ........Change..........
Dow	13,522.02	-366.94	-2.64%
-- Day's Range:	13511.94 - 13888.47
-- 52wk Range:	11,881.30 - 14,280.00

Nasdaq	2,725.16	-74.15	-2.65%
-- Day's Range:	2725.16 - 2799.32
-- 52wk Range:	2,316.82 - 2,834.00

S&P 500	1,500.63	-39.45	-2.56%
-- Day's Range:	1500.26 - 1540.00
-- 52wk Range:	1,360.98 - 1,576.09

30-yr Bond	4.6890%	-0.0900
-- Day's Range:	4.6780 - 4.7650
-- 52wk Range:	4.525 - 5.408

NYSE Volume	4,215,594,000
Nasdaq Volume	2,451,578,250

*Overseas*
Japan's Nikkei stock average closed down 1.71 percent. Britain's FTSE 100 fell 1.23 percent, Germany's DAX index fell 0.47 percent, and France's CAC-40 fell 0.46 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,527.90	-81.50	-1.23%
DAX	7,884.12	-37.28	-0.47%
CAC 40	5,740.48	-26.76	-0.46%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	16,814.37	-291.72	-1.71%
Hang Seng	29,465.05	+166.34	+0.57%
Straits Times	3,747.98	-61.71	-1.62%

http://biz.yahoo.com/ap/071019/wall_street.html?.v=37
*Stocks Sink on Black Monday Anniversary*
Friday October 19, 5:56 pm ET
By Tim Paradis, AP Business Writer
*Stocks Fall Sharply Amid Lackluster Profit Reports, Credit Concerns*

NEW YORK (AP) -- The Dow Jones industrial average dropped more than 360 points Friday -- the 20th anniversary of the Black Monday crash -- as lackluster corporate earnings, renewed credit concerns and rising oil prices spooked investors.

The major stock market indexes turned in their worst week since July after Caterpillar Inc., one of the world's largest construction equipment makers, soured investors mood Friday with a discouraging assessment of the U.S. economy. In a week dominated by mostly negative results from banks facing difficult credit markets and rising mortgage delinquencies, investors appeared surprised that an industrial name was feeling an economic pinch, too.

Reports from Honeywell International Inc. and 3M Co., themselves big industrial names, gave investors little incentive to take chances on the market. In one bright spot, Google Inc. reported stronger-than-expected profits, drawing a number of analyst upgrades.

Investor sentiment took another hit when Standard & Poor's again reduced its ratings on residential mortgage-backed securities. The latest reduction, on more than 1,400 types of securities, added to investors unease about credit quality.

And oil prices added to investors' list of worries after briefly moving above the psychological barrier of $90 per barrel for the first time.

"I was not surprised there was some correction, given our expectation that earnings growth was going to fall short of expectations," said Alan Gayle, senior investment strategist, director of asset allocation for Trusco Capital Management.

"I think stock analysts were slow to incorporate the impact of the subprime crisis on third-quarter earnings," he added.

The Dow fell 366.94, or 2.64 percent, to 13,522.02. The Dow was down for the fifth straight session and for the week was off 4.05 percent. For the year, the blue chip index is now up 8.5 percent.

Broader stock indicators also fell sharply Friday. The Standard & Poor's 500 index fell 39.45, or 2.56 percent, to 1,500.63, and the Nasdaq composite index dropped 74.15, or 2.65 percent, to 2,725.16.

For the week, the S&P 500 fell 3.92 percent and the Nasdaq fell 2.87 percent.

Friday's pullback pales in comparison to what investors had to contend with 20 years ago. On Oct. 19, 1987 -- Black Monday -- the Dow plunged 23 percent amid concerns about interest rates and slowing economic growth. A decline of similar proportion given the market's current levels would mean a drop of some 3,000 points.

Friday's decline was the 9th biggest point drop in the Dow since Black Monday.

A decline Friday in the NYSE composite index proved steep enough to trigger trading curbs, which puts restrictions on certain types of sell orders. These type of protections were put in place as part of the response to Black Monday.

Bonds prices rose again Friday, extending a rally to an unusual five sessions. The yield on the benchmark 10-year Treasury note, which moves inversely to the price, fell to 4.40 percent from 4.50 percent late Thursday. The dollar was mixed against other major currencies, while gold prices fell.

After touching $90.07 overnight, light, sweet crude fell 87 cents to settle at $88.60 on the New York Mercantile Exchange. Prices have spiked due amid forces such as a weak dollar and thin supplies at a key Midwest oil terminal.

Illustrating investors' unease, the Chicago Board Options Exchange's volatility index, known as the VIX, and often referred to as the "fear index," spiked Friday, jumping 24 percent.

"Investors are starting to get concerned about both the pace of the U.S. economy and the pace of earnings growth," said Art Hogan, chief market strategist at Jefferies & Co.

Hogan noted that for much of the week investors focused on results from banks, which saw profits drop on souring mortgage loans and tight credit markets. But seeing weakness Friday in industrial company earnings reports increased their nervousness.

"We've got a multitude of earnings that are less than optimal in spaces outside the financials," he said.

Caterpillar fell $4.09, or 5.3 percent, to $73.57 after its third-quarter earnings rose 21 percent but fell short of Wall Street's expectations. In addition, the company lowered its full-year forecast.

Honeywell, the diversified manufacturer, turned in a 14 percent increase in its third-quarter earnings. The company raised its forecast for full-year earnings to the high end of its previously targeted range. An analyst, however, described profit margins at the company's transportation and automation and controls segments as disappointing. The stock declined $2.37, or 3.9 percent, to $58.32.

3M, the maker of Scotch tape and Post-It Notes, said its quarterly profit jumped 7 percent amid strong growth across all regions, but sales missed expectations. The company raised its profit outlook for the full year. The company also announced plans to cut prices on its profitable films for LCD television screens. The stock fell $8.11, or 8.6 percent, to $86.62.

Wachovia Corp. fell $1.74, or 3.6 percent, to $46.40 after reporting third-quarter profits fell 10 percent due to write-downs related to difficult credit market conditions. The nation's fourth largest bank signaled increasing credit troubles ahead.

Google rose $5.09 to $644.71 after the search engine leader said advertising spending lifted third-quarter profit by 46 percent.

Declining issues outnumbered advancers by more than 5 to 1 on the New York Stock Exchange, where volume came to 1.79 billion shares compared with 1.27 billion shares traded Thursday.

The Russell 2000 index of smaller companies fell 26.24, or 3.18 percent, to 798.79.

Overseas, Japan's Nikkei stock average closed down 1.71 percent. Britain's FTSE 100 fell 1.23 percent, Germany's DAX index fell 0.47 percent, and France's CAC-40 fell 0.46 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +44.95 points	+0.33% on Monday October 22:
Sym Last........ ........Change..........
Dow	13,566.97	+44.95	+0.33%
-- Day's Range:	13407.49 - 13587.22
-- 52wk Range:	11,881.30 - 14,280.00

Nasdaq	2,753.93	+28.77	+1.06%
-- Day's Range:	2698.14 - 2755.47
-- 52wk Range:	2,316.82 - 2,834.00

S&P 500	1,506.33	+5.70	+0.38%
-- Day's Range:	1490.40 - 1508.06
-- 52wk Range:	1,360.98 - 1,576.09

30-yr Bond	4.6720%	-0.0170
-- Day's Range:	4.6590 - 4.7160
-- 52wk Range:	4.525 - 5.408

NYSE Volume	3,471,825,500
Nasdaq Volume	2,033,366,500

*Overseas*
Overseas markets were unsettled, responding to Friday's drop on Wall Street. In Asian trading, Japan's Nikkei stock average declined 2.24 percent, while Hong Kong's Hang Seng index dropped 3.7 percent. In later European trading, Britain's FTSE 100 fell 1.05 percent, Germany's DAX index fell 1.13 percent, and France's CAC-40 fell 1.38 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,459.30	-68.60	-1.05%
DAX	7,794.94	-89.18	-1.13%
CAC 40	5,661.27	-79.21	-1.38%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	16,438.47	-375.90	-2.24%
Hang Seng	28,373.63	-1,091.42	-3.70%
Straits Times	3,642.64	-105.34	-2.81%

http://biz.yahoo.com/ap/071022/wall_street.html?.v=51
*Stocks End Volatile Session Higher*
Monday October 22, 5:46 pm ET
By Madlen Read, AP Business Writer
*Stocks Reverse Losses, Finish Higher Amid Strength in Technology Sector and Bargain Hunting*

NEW YORK (AP) -- Wall Street finished a back-and-forth session higher Monday as investors overcame some of their nervousness about the credit markets and uneven earnings and found solace in the technology sector.

Several companies including drug maker Merck & Co. reported decent third-quarter results, but investors were unhappy with rival drug maker Schering Plough Corp.'s results. They were also mindful of the downbeat profit outlooks from several blue chip companies last week.

Still, after an early slide, the market seemed to grow optimistic about Apple Inc.'s earnings, which did top Wall Street's expectations when the company reported after the closing bell. The eager anticipation of the report sent tech stocks higher, and by early afternoon, other stocks were tagging along.

Disappointing earnings and Standard & Poor's downgrade of another series of mortgage-backed securities sent stocks plunging Friday, taking the Dow Jones industrials down 366 points.

"It is not unusual for a big down day to be followed by an up day. I think the bargain hunters are out there," said Brian Gendreau, investment strategist for ING Investment Management. "It seems there's fairly strong demand out there, despite all the bloodletting on Friday."

He noted that while some big-name companies' results have disappointed Wall Street, about two-thirds of earnings so far have beat estimates and outlooks remain upbeat for the technology and health care sectors.

The Dow rose 44.95, or 0.33 percent, to 13,566.97, after falling more than 100 points early in the session.

Broader stock indicators finished higher, with tech stocks leading. The S&P 500 index rose 5.70, or 0.38 percent, to 1,506.33, and the technology-dominated Nasdaq composite index rose 28.77, or 1.06 percent, to 2,753.93.

The Russell 2000 index of smaller companies climbed 11.29, or 1.41 percent, to 810.08.

Advancing issues outnumbered decliners by about 9 to 7 on the New York Stock Exchange, where consolidated volume came to 3.4 billion shares, compared with a heavy 4.05 billion shares traded Friday.

Treasury bonds were little changed after Friday's steep gains. The yield on the 10-year note, which moves inversely to its price, was flat at 4.40 percent.

On Friday -- the 20-year anniversary of the Black Monday crash -- investors sold off stocks and bought up safer assets like U.S. Treasury bonds as the prospect of a thaw in the frozen credit markets grew dimmer.

Though the major U.S. stock indexes showed signs of strength Monday, there are still big worries on Wall Street about how problems in the financial markets might drag on corporate and economic growth -- concerns that make the record highs reached earlier this month by the Dow and the Standard & Poor's 500 index appear unreasonable.

"It may take a little time here, a week or two, of trying to heal," said Steven Goldman, chief market strategist at Weeden & Co.

Overseas markets were unsettled, responding to Friday's drop on Wall Street. In Asian trading, Japan's Nikkei stock average declined 2.24 percent, while Hong Kong's Hang Seng index dropped 3.7 percent. In later European trading, Britain's FTSE 100 fell 1.05 percent, Germany's DAX index fell 1.13 percent, and France's CAC-40 fell 1.38 percent.

Strong tech earnings could give a boost to investor sentiment.

Apple's fiscal fourth-quarter earnings handily topped Wall Street's expectations as the company set a record for quarterly shipments of its Mac computers and sold more than 1 million iPhones. Apple shares, which finished the regular session up $3.94, or 2.3 percent, at $174.36 rose 6 percent in after-hours electronic trading.

Netflix Inc., the online DVD rental service, said its third-quarter earnings rose 23 percent as its subscriber base grew. The company's results topped its expectations. Netflix slipped 23 cents to $23.01 in the regular session but rose 13 percent in after-hours trading.

American Express Co., one of the nation's biggest credit card issuers, said Monday higher spending by cardholders pushed third-quarter profit up 10 percent but that it set aside more money for write-downs. Amex fell 24 cents to $56.87 during the session and rose more than 2 percent in after-hours trading.

Schering-Plough's profit gain, however, fell short of expectations. The drug maker fell $4.37, or 13.4 percent, to $28.34.

Analysts said the upbeat results that arrived Monday won't erase all of investors' concerns.

"People are worried there are more time bombs out there," Gendreau said. He posited that a big reason the market sold off as sharply as it did last week was because fund managers wanted to lock in positive returns for the year before any more bad news hits.

Over the weekend, the world's economic leaders not only said that smoothing the turbulent global financial markets will require vigilance, but they also warned of inflation risks -- which puts central banks like the U.S. Federal Reserve in a tight spot. The Fed lowered interest rates on Sept. 18 to make borrowing cheaper amid a growing credit market crisis, and Wall Street hopes policy makers reduce rates again when they meet next week.

Fed Governor Randall Kroszner at a speech in Washington reaffirmed that the central bank will "act as needed" to calm the financial markets. He also said problems with structured credit products -- which dampened the profits at several banks in the third quarter -- are recovering, but gradually.

Crude oil futures settled down $1.04 to $87.56 a barrel on the New York Mercantile Exchange. Gold also declined, while the dollar rebounded sharply against several major currencies.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

http://biz.yahoo.com/ap/071023/wall_street.html
*
Wall Street Headed to Higher Open*
Tuesday October 23, 9:10 am ET
By Madlen Read, AP Business Writer
*Stocks Head Toward Higher Open on Strong Profits From Apple, American Express, DuPont
*
NEW YORK (AP) -- U.S. stocks were poised to open higher Tuesday, with Wall Street growing more upbeat about corporate profits after solid results from blue chip names including Apple Inc., American Express Co. and DuPont Co.

After the market closed Monday, Apple surpassed analysts' expectations with a 67 percent jump in fiscal fourth-quarter profit on strong sales of Macintosh computers, iPods and iPhones. The report renewed confidence in the technology sector, which has outpaced the stock market this year but which also has tended to fall the hardest when investors sell off.

Two Dow components -- American Express, one of the largest credit card companies, and chemicals maker DuPont -- posted better-than-expected profit gains as well. In premarket trading, Apple rose 7.5 percent; American Express rose 3.7 percent; and DuPont rose 4.1 percent.

Other companies whose shares rose on higher-than-anticipated earnings Tuesday included TD Ameritrade Holding Corp., UPS, JetBlue Airways Corp., Lockheed Martin Corp., and Burlington Northern Santa Fe Corp.


----------



## nizar

bigdog said:


> http://biz.yahoo.com/ap/071023/wall_street.html
> *
> Wall Street Headed to Higher Open*
> Tuesday October 23, 9:10 am ET
> By Madlen Read, AP Business Writer
> *Stocks Head Toward Higher Open on Strong Profits From Apple, American Express, DuPont
> *
> NEW YORK (AP) -- U.S. stocks were poised to open higher Tuesday, with Wall Street growing more upbeat about corporate profits after solid results from blue chip names including Apple Inc., American Express Co. and DuPont Co.
> 
> After the market closed Monday, Apple surpassed analysts' expectations with a 67 percent jump in fiscal fourth-quarter profit on strong sales of Macintosh computers, iPods and iPhones. The report renewed confidence in the technology sector, which has outpaced the stock market this year but which also has tended to fall the hardest when investors sell off.
> 
> Two Dow components -- American Express, one of the largest credit card companies, and chemicals maker DuPont -- posted better-than-expected profit gains as well. In premarket trading, Apple rose 7.5 percent; American Express rose 3.7 percent; and DuPont rose 4.1 percent.
> 
> Other companies whose shares rose on higher-than-anticipated earnings Tuesday included TD Ameritrade Holding Corp., UPS, JetBlue Airways Corp., Lockheed Martin Corp., and Burlington Northern Santa Fe Corp.




An evening update ey 
It must be bullish!!

Reminds me of myself, I only update my portfolio when the ASX is very green. Like today 
Yesterday I didn't bother lol.


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +109.26 points	+0.81% on Tuesday October 23:
Sym Last........ ........Change..........
Dow	13,676.23	+109.26	+0.81%
-- Day's Range:	13540.88 - 13684.60
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,799.26	+45.33	+1.65%
-- Day's Range:	2758.53 - 2799.26
-- 52wk Range:	2,316.82 - 2,834.00

S&P 500	1,519.59	+13.26	+0.88%
-- Day's Range:	1503.61 - 1520.01
-- 52wk Range:	1,360.98 - 1,576.09

30-yr Bond	4.6920%	+0.0200
-- Day's Range:	4.6860 - 4.7150
-- 52wk Range:	4.525 - 5.408

NYSE Volume	3,174,199,500
Nasdaq Volume	2,328,145,000

*Overseas*
In Asian trading, Japan's Nikkei stock average inched up 0.07 percent, while Hong Kong's Hang Seng index soared 3.54 percent. 

In European trading, Britain's FTSE 100 rose 0.85 percent, Germany's DAX index rose 0.61 percent, and France's CAC-40 rose 0.77 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,514.00	+54.70	+0.85%
DAX	7,842.79	+47.85	+0.61%
CAC 40	5,705.05	+43.78	+0.77%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	16,450.58	+12.11	+0.07%
Hang Seng	29,376.86	+1,003.23	+3.54%
Straits Times	3,695.30	+52.66	+1.45%

http://biz.yahoo.com/ap/071023/wall_street.html?.v=55
*Stocks End Higher on Earnings Reports*
Tuesday October 23, 5:17 pm ET
By Joe Bel Bruno, AP Business Writer
*Wall Street Rebounds on Strong Earnings Reports, Absorbs Concerns About Housing and Economy*

NEW YORK (AP) -- Wall Street ended an erratic session with a big advance Tuesday as investors uneasy about the economy were reassured by solid earnings from blue chip names including Apple Inc. and American Express Co. The Dow Jones industrial average rose more than 100 points.

Technology stocks were among the biggest gainers after Apple surpassed analysts' expectations with a 67 percent jump in fiscal fourth-quarter profit on strong sales of Macintosh computers, iPods and iPhones. Two Dow components -- American Express, one of the largest credit card companies, and chemicals maker DuPont Co. -- posted better-than-expected profit gains as well.

But comments from DuPont Chief Executive Charles O. Holliday Jr. that the company doesn't expect a recovery in the housing market next year reminded investors of the still uneasy forecasts for the economy. Holliday's remarks helped pull the major indexes down from their session highs before the indicators rebounded in afternoon trading.

"Housing is obviously still a big concern, and the question is how much does it spill over into the rest of the economy," said Alexander Paris, economist and market analyst for Chicago-based Barrington Research. "I think the trend for the market is down unless investors see something positive, and the market drifts back up again."

He said investors were also adjusting their positions ahead of key housing data this week. On Thursday, the National Association of Realtors will release its existing home sales report, while the Commerce Department reports new home sales a day later.

The Dow rose 109.26, or 0.81 percent, to 13,676.23.

Broader stock indicators also had solid gains. The Standard & Poor's 500 index rose 13.26, or 0.88 percent, to 1,519.59; the Nasdaq composite index rose 45.33, or 1.65 percent, to 2,799.26.

The stock market extended its recovery from Monday after plunging Friday. Wall Street had sold off for five straight sessions as worries about the credit market's effect on the economy escalated, when several blue chip companies offered sluggish outlooks and S&P downgraded more mortgage-backed securities.

Higher energy prices and a weakening dollar are also hanging over the market. Treasury Secretary Henry Paulson said in a speech Tuesday China must allow its currency, the yuan, to gain in value more quickly, to counter imbalances in the economy and make monetary policy more effective in responding to inflation.

Analysts believe investors are also looking for the Federal Reserve to throw them a lifeline when it meets next week to decide the future of rates. Wall Street widely expects the central bank will again lower rates after its half-point cut in September.

"I think you're going to see trading will be really choppy between now and next week's Federal Reserve meeting," said Scott Fullman, director of investment strategy for I.A. Englander & Co. "The market is very sensitive right now, and I continue to tell my clients that I don't mind being long so long as you're hedged -- risk levels are still high."

Treasury bonds were little changed amid a disappointing auction of new issues, and as investors moved back into stocks. The yield on the 10-year note, which moves inversely to its price, edged higher to 4.41 percent from 4.40 percent on Monday.

Oil prices dipped on expectations of rising U.S. crude inventories, and concerns over a continuing buildup of Turkish military forces along the northern Iraqi border. A barrel of light, sweet crude fell 75 cents to $85.27 on the New York Mercantile Exchange.

The dollar fell against most other major currencies, while gold rose.

Earnings commanded most of the attention on Tuesday as investors looked for any indication about how companies fared during the quarter, and what they expect for the balance of the year. Recent results reinvigorated investors after companies posted a string of downbeat results last week, a disappointment that contributed to a 366-point slide in the Dow Friday.

So far, roughly 41 percent of the Standard & Poor's 500 companies have reported results -- with 51 percent beating expectations, according to the rating agency.

Apple rose $11.80, or 6.3 percent, to $186.16 after the company reported it shipped a record 2.16 million Macs in the quarter, an increase of 34 percent from the same period a year ago. That generated $3.1 billion, or about half of the company's revenues for the quarter.

American Express said late Monday higher spending by cardholders pushed third-quarter profit up 10 percent. Shares rose $1.79, or 3.2 percent, to $58.66.

DuPont posted a larger profit for the third quarter on agricultural and nutritional products in Latin America and the company boosted its full-year outlook. The stock rose 24 cents to $46.81.

AT&T Inc., the nation's largest telecommunications company, reported profit rose 42 percent after its acquisition of BellSouth Corp. Shares rose 85 cents, or 2.1 percent, to $42.02.

The Russell 2000 index of smaller companies rose 8.45, or 1.05 percent, to 818.53.

Advancing issues led decliners by a 2 to 1 margin on the New York Stock Exchange, where volume came to 1.15 billion shares compared to 1.39 billion on Monday.

In Asian trading, Japan's Nikkei stock average inched up 0.07 percent, while Hong Kong's Hang Seng index soared 3.54 percent. In European trading, Britain's FTSE 100 rose 0.85 percent, Germany's DAX index rose 0.61 percent, and France's CAC-40 rose 0.77 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by -0.98 points	-0.01% on Wednesday October 24:
*Sym* *Last........* ........Change..........
Dow	13,675.25	-0.98	-0.01%
-- Day's Range:	13470.16 - 13690.45
-- 52wk Range:	11,926.80 - 14,280.00

The Dow Jones industrials fell in morning trading by as many as 200 points after the market got one of its most-feared scenarios: Not only is the housing implosion dampening corporate profits, it appears to be accelerating.

But the blue chip index reversed direction later in the day, briefly bobbing into positive territory as rumors circulated that the Federal Reserve -- scheduled to meet next week -- might be lowering the discount rate before then.

Nasdaq	2,774.76	-24.50	-0.88%
-- Day's Range:	2720.30 - 2781.96
-- 52wk Range:	2,316.82 - 2,834.00

S&P 500	1,515.88	-3.71	-0.24%
-- Day's Range:	1489.56 - 1517.23
-- 52wk Range:	1,360.98 - 1,576.09	

30-yr Bond	4.6410%	-0.0510
-- Day's Range:	4.6260 - 4.6880
-- 52wk Range:	4.525 - 5.408

NYSE Volume	4,003,297,750
Nasdaq Volume	2,812,582,750

*Overseas*
In Asian trading, Japan's Nikkei stock average fell 0.56 percent, while Hong Kong's Hang Seng index fell 0.15 percent. 

In European trading, Britain's FTSE 100 fell 0.49 percent, Germany's DAX index fell 0.18 percent, and France's CAC-40 fell 0.56 percent.


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,482.00	-32.00	-0.49%
DAX	7,828.96	-13.83	-0.18%
CAC 40	5,674.67	-30.38	-0.53%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	16,358.39	-92.19	-0.56%
Hang Seng	29,333.53	-43.33	-0.15%
Straits Times	3,649.12	-46.18	-1.25%

http://biz.yahoo.com/ap/071024/wall_street.html?.v=54
*Stocks Finish Rocky Session Lower*
Wednesday October 24, 5:42 pm ET
By Madlen Read, AP Business Writer
*Stocks Fall, but Recover From Steep Early Losses After Merrill Credit Losses, Home Sales Drop*

NEW YORK (AP) -- Wall Street recovered from steep losses Wednesday amid hopes for an imminent interest rate cut, but stocks still closed down in response to Merrill Lynch & Co.'s credit-related losses and a sharp drop in existing home sales.

The Dow Jones industrials fell in morning trading by as many as 200 points after the market got one of its most-feared scenarios: Not only is the housing implosion dampening corporate profits, it appears to be accelerating.

But the blue chip index reversed direction later in the day, briefly bobbing into positive territory as rumors circulated that the Federal Reserve -- scheduled to meet next week -- might be lowering the discount rate before then. The central bank has also been adding a substantial amount of liquidity to the financial system over the last three days.

"Once people hear about a rumor, they cover their shorts. Even though it's just a rumor that's out there," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. Short-covering is when traders undo bets that the market is going to fall. "There was a lot of bad news this morning. It's pretty clear Wall Street wants a rate cut and wants it soon."

Investors have been clamoring for a cut with fresh evidence that the housing slump and summer's credit crisis continues to drag on the economy. Merrill Lynch said it wrote down $7.9 billion from its exposure to mortgage-related securities, while a new housing report showed existing home sales plunged last month.

The Dow was off just 0.98, or 0.01 percent, at 13,675.25.

Broader stock indicators fell, but were also off earlier lows. The Standard & Poor's 500 index fell 3.71, or 0.24 percent, to 1,515.88, while the technology-dominated Nasdaq composite index lost 24.50, or 0.88 percent, to 2,774.76.

Speculation about an emergency meeting of Fed governors rippled through Wall Street in the late afternoon, and caused stocks to rebound. However, such a meeting seemed unlikely given that the Fed meets next week to decide whether to lower interest rates to make borrowing cheaper.

"The market wouldn't want to hear that Fed was turning a blind eye to the news flow," said Jeff Kleintop, chief market strategist at LPL Financial Services in Boston. "They want to hear more signs that the Fed is noticing this weakness."

The increasing possibility of a cut sent Treasury bond prices sharply higher during the session. The yield on the benchmark 10-year Treasury note, which moves inversely to the price, fell to 4.33 percent from 4.40 percent on Tuesday. In after-hours trading, the yield stood at 4.35 percent.

The dollar was mixed against other major currencies, while gold prices fell.

Meanwhile, investors kept a close watch on oil prices to gauge inflation. Oil resumed its climb after a surprise drop in inventories, with a barrel of light sweet crude up $1.83 at $87.10 on the New York Mercantile Exchange.

The financial sector was among the hardest hit on Wednesday after Merrill reported worse-than-expected loss of $2.3 billion. Adding to worries, Merrill Chief Executive Stan O'Neal pointed to "renewed signs of volatility and weakness" in the market environment.

Shares of the world's largest brokerage tumbled $3.90, or 5.8 percent, to $63.22.

Further deterioration in the housing market could aggravate the financial sector's troubles. The National Association of Realtors reported that existing home sales fell in September for the seventh straight month by a larger-than-expected 8 percent -- the largest decline in records dating back to 1999.

The tech sector lost the momentum it had earlier in the week. The biggest loser among the 30 Dow companies was Nasdaq-traded Intel Corp., which suffered a blow after several chip companies, including Broadcom Corp., reported disappointing results late Tuesday. Intel fell 79 cents, or 3 percent, to $26.01 while Broadcom slid $7.14, or 17 percent, to $34.92.

And Amazon.Inc. shares plunged $12.09, or 12 percent, to $88.73 after it reported quarter profit only beat per-share estimates by a penny. Investors didn't see enough reason to bring the Internet retailer's shares, already at their loftiest level since 1999, even higher.

The Russell 2000 index of smaller companies fell 7.68, or 0.94 percent, to 810.85.

And, the session continued a pattern of volatility as investors remained reactive to news items. Declining issues led advancers by about 2 to 1 on the New York Stock Exchange, where consolidated volume came to 3.88 billion, up from 3.21 billion on Tuesday.

"Volatility has increased substantially primarily because we have a very nervous market," said Al Goldman, chief market strategist at A.G. Edwards. "If there is good news, the market pops up. If there is bad news, it falls."

In Asian trading, Japan's Nikkei stock average fell 0.56 percent, while Hong Kong's Hang Seng index fell 0.15 percent. In European trading, Britain's FTSE 100 fell 0.49 percent, Germany's DAX index fell 0.18 percent, and France's CAC-40 fell 0.56 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Re: NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The the past two days the Dow has been close to even; three cheers!
-0.98 points -0.01% on Wednesday October 24
-3.33 points	-0.02% on Thursday October 25

The NYSE DOW closed HIGHER by -3.33 points	-0.02% on Thursday October 25:
Sym Last........ ........Change..........
Dow	13,671.92	-3.33	-0.02%
-- Day's Range:	13547.63 - 13741.26
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,750.86	-23.90	-0.86%
-- Day's Range:	2733.08 - 2787.29
-- 52wk Range:	2,316.82 - 2,834.00

S&P 500	1,514.40	-1.48	-0.10%
-- Day's Range:	1500.46 - 1523.24
-- 52wk Range:	1,360.98 - 1,576.09

30-yr Bond	4.6550%	+0.0140
-- Day's Range:	4.6310 - 4.6670
-- 52wk Range:	4.525 - 5.408

NYSE Volume	4,183,961,750
Nasdaq Volume	2,797,037,500

*Overseas*
In Asian trading, Japan's Nikkei stock average fell 0.45 percent, but Hong Kong's Hang Seng index rose 1.78 percent. 

In European trading, Britain's FTSE 100 rose 1.45 percent, Germany's DAX index rose 1.32 percent, and France's CAC-40 rose 1.51 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,576.30	+94.30	+1.45%
DAX	7,932.44	+103.48	+1.32%
CAC 40	5,760.30	+85.63	+1.51%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	16,284.17	-74.22	-0.45%
Hang Seng	29,854.49	+520.96	+1.78%
Straits Times	3,707.14	+58.02	+1.59%

http://biz.yahoo.com/ap/071025/wall_street.html?.v=40
*Stocks Moderately Lower on Housing Data*
Thursday October 25, 6:11 pm ET
By Madlen Read, AP Business Writer
*Wall Street Closes Modestly Lower, Dogged by Credit and Economic Worries As Oil Prices Rise*

NEW YORK (AP) -- Wall Street closed slightly lower in erratic trading Thursday as investors uneasy about the credit markets and record-high oil prices took little solace from reports on new home sales and durable goods orders.

The Commerce Department said sales of new homes rose 4.8 percent in September from August's levels. The market initially popped on the data, as economists had predicted a decline. But it eventually pulled back because the sales increase was due to a big downward revision in August's decline, and that homebuilders had offered discounts in September to move inventory.

"The sad part is, even with the discounts, we still have inventory overhang. And that's a problem," said Michael Strauss, chief economist at Commonfund. He noted that home prices are still falling, as are sales of existing homes, which make up the majority of the housing market.

Another report showed that orders of big-ticket items, one gauge of business spending, fell 1.7 percent in September, following August's 5.3 percent drop. The economic data drew close attention by Wall Street as investors look for clues to determine if the Federal Reserve will lower rates at its meeting next week.

Meanwhile, investors also had to contend with higher energy prices -- crude oil spiked to an all-time high of $90.60 a barrel before settling slightly lower -- and credit worries continued to dog the market. Speculation that insurer American International Group Inc. might suffer credit costs weighed on the Dow Jones industrial average, which later rebounded from its lows.

The Dow fell 3.33, or 0.02 percent, to 13,671.92 after changing direction several times. The blue chip index was briefly down more than 100 points.

Broader stock indicators also fell. The Standard & Poor's 500 index fell 1.48, or 0.10 percent, to 1,514.40, while the Nasdaq composite index fell 23.90, or 0.86 percent, to 2,750.86.

Treasury bond prices stalled as investors moved in and out of the stock market. The yield on the benchmark 10-year Treasury note, which moves inversely to the price, was unchanged at 4.35 percent from its close on Wednesday and then rose to 4.38 percent in after-hours trading.

Investors appeared unsure both about the direction of the economy and whether the central bank will be compelled to lower interest rates again to boost spending. The central bank reduced rates last month by a half-percentage-point.

Many seem to believe the Fed will cut rates several times over the next six months to keep the economy moving forward, said Paul Nolte, director of investments at Hinsdale Associates. However, there does remain some doubt about the Fed's economic plan.

Commonfund's Strauss said the Fed may not be as aggressive as the market is hoping. "We're still going to get a decent third-quarter GDP number, and there's pressure from the energy complex that we're concerned about," he said.

Meanwhile, the housing report released Thursday might not be enough to sway the Fed in either direction. Dave Seiders, the National Association of Home Builders' chief economist, said some of the data in the government report might not give an accurate picture of the industry.

"If you look at the composition of this, all of the increase was recorded in the West region, which from other sources we know actually is very weak," he said. "So I have a problem with the legitimacy of the reported increase in September."

Rising energy prices also unsettled the market. Crude futures rose $3.36 to close at $90.46 a barrel on the New York Mercantile Exchange due to concerns about OPEC oil ministers not meeting demand.

And mixed earnings reports added to the uncertainty. Motorola Inc. and data storage specialist EMC Corp. showed respectable growth, but Comcast Corp. and Symantec Corp. disappointed investors.

Motorola managed in the third quarter to post its first quarterly profit this year. The cell phone maker's earnings expectations for the fourth quarter were higher than forecasts, and shares rose 76 cents, or 4.1 percent, to $19.31.

EMC said third-quarter profit rose 77 percent largely due to growing sales of data storage software and hardware. EMC shares rose $1.97, or 8.7 percent, to $24.40.

But dragging on the technology-dominated Nasdaq, Symantec issued disappointing guidance. The security software maker's shares tumbled $2.52, or 11.99 percent, to $18.50. Comcast fell $2.57, or 11 percent, to $21.28 after it missed Wall Street expectations.

The dollar fell against most other major currencies, except the yen, while gold prices rose.

The Russell 2000 index of smaller companies fell 4.74, or 0.58 percent, to 806.11.

Declining issues outnumbered advancers by 3 to 2 on the New York Stock Exchange, where consolidated volume came to 4.07 billion shares, up from 3.88 billion on Wednesday.

In Asian trading, Japan's Nikkei stock average fell 0.45 percent, but Hong Kong's Hang Seng index rose 1.78 percent. In European trading, Britain's FTSE 100 rose 1.45 percent, Germany's DAX index rose 1.32 percent, and France's CAC-40 rose 1.51 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Re: NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The Dow Jones industrial average ended the week up 284.68, or 2.11 percent, at 13,806.70. The Standard & Poor's 500 index finished up 34.65, or 2.31 percent, at 1,535.28. The Nasdaq composite index ended up 79.03, or 2.90 percent, at 2,804.19.

The NYSE DOW closed HIGHER by +134.78 points	+0.99% on Friday October 26:
Sym Last........ ........Change..........
Dow	13,806.70	+134.78	+0.99%
-- Day's Range:	13675.25 - 13811.25
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,804.19	+53.33	+1.94%
-- Day's Range:	2776.53 - 2810.31
-- 52wk Range:	2,316.82 - 2,834.00

S&P 500	1,535.28	+20.88	+1.38%
-- Day's Range:	1520.18 - 1535.53
-- 52wk Range:	1,360.98 - 1,576.09

30-yr Bond	4.6830%	+0.0280
-- Day's Range:	4.6480 - 4.7020
-- 52wk Range:	4.525 - 5.408

NYSE Volume	3,616,435,000
Nasdaq Volume	2,589,767,250

*Overseas*
In Asian trading, Japan's Nikkei stock average rose 1.36 percent, and Hong Kong's Hang Seng index rose 1.84 percent. 

In Europe, Britain's FTSE 100 rose 1.29 percent, Germany's DAX index rose 0.21 percent, and France's CAC-40 rose 0.60 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,661.30	+85.00	+1.29%
DAX	7,949.17	+16.73	+0.21%
CAC 40	5,794.87	+34.57	+0.60%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	16,505.63	+221.46	+1.36%
Hang Seng	30,405.22	+550.73	+1.84%
Straits Times	3,771.55	+64.41	+1.74%

http://biz.yahoo.com/ap/071026/wall_street.html?.v=36
*Stocks Finish Volatile Week Higher*
Friday October 26, 6:18 pm ET
By Leslie Wines, AP Business Writer
*Wall Street Rises on Strong Microsoft Profit; Bonds Up, Commodities Strengthen*

NEW YORK (AP) -- Wall Street closed an erratic week with strong gains on Friday as strong earnings from Microsoft Corp. and an optimistic outlook from Countrywide Financial Corp. outweighed investor concerns about the economy.

Housing market news over the week was glum; oil prices surged to record highs. And though corporate earnings have so far been mixed, investors have been heartened by good news for individual companies.

Friday's report from Countrywide that it expects to return to profitability soon, despite a big third-quarter loss, gave investors hope that the problems in the housing market are contained and that U.S. consumers still have spending power. Thursday night's strong report from Microsoft inspired strong buying throughout the technology sector.

"The market is higher for just two reasons -- Countrywide and Microsoft," said Peter Boockvar, equity strategist at Miller Tabak. "You take those two stocks out of the equation and there is no reason for the market to be higher. Microsoft single-handedly is driving the Nasdaq."

Mixed profit reports and data showing economic weakness has made investors uncertain whether the market is overvalued. However, earnings will be pushed aside next week as the main focus of investor attention -- and taking it place will be the Federal Reserve's rate-setting meeting on Tuesday and Wednesday.

The Dow Jones industrial average rose 134.78, or 0.99 percent, to 13,806.70.

Broader stock indicators also gained. The Standard & Poor's 500 index rose 20.88, or 1.38 percent, to 1,535.28, and the technology-dominated Nasdaq composite index advanced 53.33, or 1.94 percent, to 2,804.19.

For the week, the Dow rose 2.11 percent, the Nasdaq was up 2.90 percent, and the S&P 500 jumped 2.31 percent. The gains were welcome after all three indexes posted losses in the previous week.

High oil prices didn't dampen investors' spirits either. After spiking above $92 a barrel in Asian trading overnight, December crude futures rose $1.40 to settle at $91.86 a barrel on the New York Mercantile Exchange.

"Because oil prices are so high, our nation's oil bill has gone up. We're exporting dollars to pay for oil and our counterparties are reinvesting those dollars back in our markets -- the so-called petrodollars finding their way back," said Tom McManus, investment strategist with Banc of America Securities.

Even as stocks advanced, investors poured money into commodities markets as a hedge against a falling dollar, which hit another record low against the euro. Gold futures rose $16.50 to close at $787.50 an ounce, the highest price since January 1980. Energy, metals and agriculture futures all moved higher.

Treasury bonds turned lower as stocks barreled higher. The yield on the 10-year Treasury note, which moves inversely to the price, rose to 4.39 percent from 4.38 percent late Thursday.

Friday's stock gains were fueled by company-specific news, according to Robert Pavlik, portfolio manager at Oaktree Asset Management.

"Trading today is sort of choppy, but stocks are moving up based on strong earnings from Microsoft," he said. "You're also getting a pop from Countrywide's strong guidance going forward. All this is bring some attention back to the stock market.

Countrywide posted a wide loss of more than $1 billion in the third quarter, but the beleaguered mortgage lender, whose stock has plummeted due to rising subprime mortgage defaults, said it will be profitable in the fourth quarter and next year. The shares jumped $4.23, or 32.36 percent, to $17.30.

Microsoft's reported that its profit jumped 23 percent, thanks to brisk sales of the new Halo 3 video game, Windows and Office. Microsoft shares rose $3.04, or 9.50 percent, to end at $35.03.

Financial stocks were solidly higher Friday, but the sector continues to show signs of uneasiness following the summer's credit market problems. The New York Times reported that after Merrill Lynch & Co. posted its sharp third-quarter loss Wednesday, the investment bank's chairman and chief executive floated the idea of a merger with Wachovia Corp. Merrill shares rose $5.19, or 8.52 percent, to close at $66.09.

Advancing issues outnumbered decliners by nearly 3 to 1 on the New York Stock Exchange, where consolidated volume fell to 3.51 billion shares traded from 4.07 billion on Thursday.

The Russell 2000 Index of smaller companies rose 15.28, or 1.90 percent, to 821.39.

Stock markets overseas advanced.

In Asian trading, Japan's Nikkei stock average rose 1.36 percent, and Hong Kong's Hang Seng index rose 1.84 percent. In Europe, Britain's FTSE 100 rose 1.29 percent, Germany's DAX index rose 0.21 percent, and France's CAC-40 rose 0.60 percent.

The Dow Jones industrial average ended the week up 284.68, or 2.11 percent, at 13,806.70. The Standard & Poor's 500 index finished up 34.65, or 2.31 percent, at 1,535.28. The Nasdaq composite index ended up 79.03, or 2.90 percent, at 2,804.19.

The Russell 2000 index finished the week up 22.60, or 2.83 percent, at 821.39.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 15,518.12, up 270.37 points, for the week. A year ago, the index was at 13,943.81.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Re: NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +63.56 points	+0.46% on Monday October 29:
Sym Last........ ........Change..........
Dow	13,870.26	+63.56	+0.46%
-- Day's Range:	13805.31 - 13901.40
-- 52wk Range:	11,926.80 - 14,280.00	

Nasdaq	2,817.44	+13.25	+0.47%
-- Day's Range:	2805.25 - 2825.37
-- 52wk Range:	2,316.82 - 2,834.00

S&P 500	1,540.98	+5.70	+0.37%
-- Day's Range:	1536.43 - 1544.67
-- 52wk Range:	1,360.98 - 1,576.09

30-yr Bond	4.6630%	-0.0200
-- Day's Range:	4.6530 - 4.6950
-- 52wk Range:	4.525 - 5.408

NYSE Volume	3,088,787,250
Nasdaq Volume	2,065,367,380

*Overseas*
In Asian trading, Japan's Nikkei stock average rose 1.17 percent, and Hong Kong's Hang Seng index rose 3.89 percent. 

In European trading, Britain's FTSE 100 rose 0.67 percent, Germany's DAX index advanced 0.76 percent, and France's CAC-40 added 0.71 percent.  NB looks like "Wall Street article" typo where FTSE100 rose 1.97% !!!

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,706.00	+129.70	+1.97%
DAX	8,009.67	+60.50	+0.76%
CAC 40	5,836.19	+41.32	+0.71%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	16,698.08	+192.45	+1.17%
Hang Seng	31,586.90	+1,181.68	+3.89%
Straits Times	3,819.78	+48.23	+1.28%

http://biz.yahoo.com/ap/071029/wall_street.html?.v=34
*Wall Street Rises As Fed Meeting Looms*
Monday October 29, 4:46 pm ET
By Madlen Read, AP Business Writer
*Stocks Lift As Wall Street Awaits Fed Meeting; Oil Prices Advance, Passing $93 for First Time*

NEW YORK (AP) -- Wall Street advanced Monday as investors undeterred by record oil prices speculated that the Federal Reserve will cut interest rates later this week to boost the slow economy and lure more buyers into the troubled credit markets.

The Fed begins its two-day meeting Tuesday, and the market widely expects a rate reduction the following day. Central bankers lowered rates by a half-point in September for the first time in four years after the credit markets seized up and posed the threat of recession. The economy has a hard time growing if companies can't borrow and lend money.

But with energy prices soaring to new records, the risk of inflation -- which tends to accelerate when rates are low -- may give policy makers some pause. Crude oil futures soared above $93 a barrel for the first time on the New York Mercantile Exchange Monday after a storm led Mexico's state oil company to suspend about a fifth of its oil production.

The Fed remains concerned about inflation but is likely to lower the target federal funds rate by a quarter-point due to overriding credit worries, said Scott Wren, equity strategist for A.G. Edwards & Sons.

"It's kind of a psychological sort of move," Wren said. "A 25 basis-point cut isn't going to ease the credit crunch. But it'll give the Fed a little more time to figure out what's going on with the economy."

According to preliminary calculations, the Dow Jones industrial average rose 63.56, or 0.46 percent, to 13,870.26.

Broader stock indicators also gained. The Standard & Poor's 500 index rose 5.70, or 0.37 percent, to 1,540.98, while the Nasdaq composite index rose 13.25, or 0.47 percent, at 2,817.44.

Treasury bond prices rose modestly as bond investors grew more cautious in their rate expectations. The yield on the 10-year Treasury note, which moves inversely to the price, slipped to 4.38 percent, from 4.41 percent late Friday.

The dollar was mixed against rival currencies, while gold prices rose.

Light, sweet crude for December rose $1.67 to settle at a record $93.53 a barrel on the New York Mercantile Exchange after rising as high as $93.80.

In addition to the hope for a rate cut, an earnings report from electronics retailer RadioShack Corp. encouraged Wall Street that companies are still seeing rising profits despite the slowing economy. RadioShack, after swinging to a third-quarter profit thanks to reduced expenses and improved inventory, rose 80 cents, or 4.1 percent, to $20.42.

Worries about Office Depot Inc.'s results, however, caused the retailer's shares to drop $2.86, or 14.1 percent, to $17.43. Three analysts downgraded the stock after the company said it will postpone its third-quarter earnings report.

Earnings so far have generally shown weakness in the financial and housing sectors but strength in others.

"It's a stock-pickers' kind of market. If you're in the right sectors, you're going to do well, but if you're in the broader market, you've got exposure to those weak sectors," said Rob Lutts, president and chief investment officer of Cabot Money Management.

Nearly 300 companies in the S&P 500 reported earnings by last Friday, on average posted a third-quarter profit decline of 4.9 percent, said Nick Raich, director of equity research for National City's private client group. The figure was wider than the consensus, but primarily because of the dismal results at companies with exposure to housing and the credit markets. Eight of the S&P 500's 10 sectors reported average earnings gains of 8 percent or more, and five of those sectors posted double-digit gains.

And though record-high crude prices and rising metal prices hurt consumers, they helped boost the stocks of companies who sell those commodities. ExxonMobil Corp. and Alcoa Inc. were among the biggest gainers in the Dow.

Alcoa rose $1.08, or 2.7 percent, to $40.43.

ExxonMobil rose $1.40 to $93.61.

In other corporate news, investors awaited the fate of Merrill Lynch & Co.'s chief executive Stan O'Neal, who was reportedly close to resigning amid broad criticism for leading the company to its biggest quarterly loss in its 93-year history. Merrill shares rose $1.33, or 2 percent, to $67.42.

Trading was relatively light Monday. Advancing issues outnumbered decliners by about 4 to 3 on the New York Stock Exchange, where volume came to 1.22 billion shares.

The Russell 2000 index of smaller companies rose 0.33, or 0.04 percent, to 821.72.

In Asian trading, Japan's Nikkei stock average rose 1.17 percent, and Hong Kong's Hang Seng index rose 3.89 percent. In European trading, Britain's FTSE 100 rose 0.67 percent, Germany's DAX index advanced 0.76 percent, and France's CAC-40 added 0.71 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Re: NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by -77.79 points	-0.56% on Tuesday October 30:
Sym Last........ ........Change..........
Dow	13,792.47	-77.79	-0.56%
-- Day's Range:	13778.41 - 13869.29
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,816.71	-0.73	-0.03%
-- Day's Range:	2803.67 - 2828.82
-- 52wk Range:	2,316.82 - 2,834.00

S&P 500	1,531.02	-9.96	-0.65%
-- Day's Range:	1529.55 - 1539.42
-- 52wk Range:	1,360.98 - 1,576.09

30-yr Bond	4.6730%	+0.0100
-- Day's Range:	4.6540 - 4.7060
-- 52wk Range:	4.525 - 5.408

NYSE Volume	3,178,637,250
Nasdaq Volume	2,198,204,250


*Overseas*
Britain's FTSE 100 fell 0.70 percent, Germany's DAX index fell 0.40 percent, and France's CAC-40 fell 0.55 percent. 

Japan's Nikkei stock average fell 0.28 percent, while Hong Kong's Hang Seng index rose 0.16 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,659.00	-47.00	-0.70%
DAX	7,977.94	-31.73	-0.40%
CAC 40	5,803.93	-32.26	-0.55%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	16,651.01	-47.07	-0.28%
Hang Seng	31,638.22	+51.32	+0.16%
Straits Times	3,798.45	-21.33	-0.56%

http://biz.yahoo.com/ap/071030/wall_street.html?.v=36
*Stocks Slide Ahead of Fed Rate Decision*
Tuesday October 30, 4:34 pm ET
By Madlen Read, AP Business Writer
*Wall Street Falls Ahead of Federal Reserve Rate Decision and After Dip in Consumer Confidence*

NEW YORK (AP) -- Wall Street pulled back Tuesday as investors uneasy after a drop in consumer confidence traded cautiously ahead of the Federal Reserve's rate decision.

After the Fed's half-point reduction in September, most investors expect the central bank to deliver a quarter-point cut at the conclusion of its two-day meeting on Wednesday.

But inflation remains a threat. Crude oil prices fell Tuesday, but only after hitting a record a day earlier, and meanwhile, the dollar has been tumbling. So a rate cut -- much less additional decreases in the coming months -- is not a given.

Some on Wall Street fear economic growth could halt if rates aren't lowered, given the troubles in housing and credit. The statement the Fed issues alongside its rate decision will be closely read for clues about future moves.

"We don't think the economy's about to slip into recession. The corporate portion of the economy is still in pretty good shape," said Phil Orlando, chief equity market strategist at Federated Investors. "However, should the Fed choose not to cut anymore, and the economy continue to slip, that potentially could raise some concerns for us."

Most earnings have been coming in better than expected over the past few weeks, particularly in the technology sector. But consumers, the key drivers of the economy, appear to be flagging.

Following last week's news of a significant decline in existing home sales and Standard & Poor's report Tuesday of home prices sinking further, the Conference Board said its index of consumer confidence fell to its lowest level in two years in October. The index came in at 95.6, below the consensus estimate of 99.5 and down from a revised reading of 99.5 in September.

The Dow Jones industrial average fell 77.79, or 0.56 percent, to 13,792.47.

Broader stock indicators were mixed. The S&P 500 index fell 9.96, or 0.65 percent, to 1,531.02, while the Nasdaq composite index fell 0.73, or 0.03 percent, to 2,816.71.

Treasury bond prices were little changed ahead of the Fed decision. The yield on the 10-year Treasury note, which moves inversely to its price, was at 4.38 percent, flat with late Monday.

The market remains nervous that even if the Fed decreases the target fed funds rate by a quarter-point or half-point, the move may not end up helping the credit and housing markets. It's not the price of borrowing that's deterring investors, many say; demand has waned because of worries about the quality of the underlying assets.

Furthermore, the central bank must walk a narrow line between keeping investors calm and acknowledging the problems out there -- particularly for the banks and brokerages that could see more big losses if portions of the credit market, like asset-backed commercial paper, don't improve.

"Providing the superficial image of stability when everybody realizes things aren't normal just doesn't work," said Axel Merk, manager of the Merk Hard Currency Fund.

Some disappointing financial reports from Procter & Gamble Co. and Qwest Communications International Inc., as well as a management shake-up at Merrill Lynch & Co., gave the market little reason to buy ahead of the Fed meeting.

Merrill Lynch's chairman and chief executive, Stan O'Neal, retired Tuesday as expected after the brokerage last week posted the biggest quarterly loss in its 93-year history. But no replacement was named. Alberto Cribiore, a director since 2003, was named interim non-executive chairman.

Merrill Lynch fell $1.86, or 2.8 percent, to $65.56.

Procter & Gamble was the biggest loser among the 30 Dow components after cautioning that higher commodity costs will squeeze second-quarter margins. P&G fell $2.88, or 4 percent, to $68.95.

Although Qwest reported a third-quarter profit jump, its shares tumbled $1.12, or 13.7 percent, to $7.06. Overall revenue dipped, and the telecommunications company provided few details about its outlook.

The technology-dominated Nasdaq performed better than the other indexes, helped by ongoing strength in such bellwethers as Apple Inc., Microsoft Corp., and Google Inc. Apple rose $1.91 to $187; Microsoft rose $1, or 2.9 percent, to $35.57; and Google rose $15.54, or 2.3 percent, to $694.77.

Crude oil prices retreated $3.15 to settle at $90.13 a barrel, after hitting a record on Monday above $93 a barrel. Gold also fell.

The dollar declined against most other major currencies, except the yen.

Declining issues outnumbered advancers by about 5 to 3 on the New York Stock Exchange, where volume came to a relatively light 1.22 billion shares, the same as Monday.

The Russell 2000 index of smaller companies fell 5.57, or 0.68 percent, to 816.15.

Overseas, Britain's FTSE 100 fell 0.70 percent, Germany's DAX index fell 0.40 percent, and France's CAC-40 fell 0.55 percent. Japan's Nikkei stock average fell 0.28 percent, while Hong Kong's Hang Seng index rose 0.16 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

*Re: NYSE Dow Jones finished today at:*
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +137.54 points	+1.00% on Wednesday October 31:
Sym Last........ ........Change..........
Dow	13,930.01	+137.54	+1.00%
-- Day's Range:	13767.68 - 13962.53
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,859.12	+42.41	+1.51%
-- Day's Range:	2815.67 - 2861.51
-- 52wk Range:	2,316.82 - 2,834.00

S&P 500	1,549.38	+18.36	+1.20%
-- Day's Range:	1529.40 - 1552.76
-- 52wk Range:	1,360.98 - 1,576.09

30-yr Bond	4.7510%	+0.0780
-- Day's Range:	4.6790 - 4.7560
-- 52wk Range:	4.525 - 5.408

NYSE Volume	3,898,716,500
Nasdaq Volume	2,574,290,500


*Overseas*
Overseas markets closed higher ahead of the Fed's decision. Britain's FTSE 100 rose 0.94 percent, Germany's DAX index added 0.52, and France's CAC-40 gained 0.76 percent. 

Japan's Nikkei stock average rose 0.52 percent, while Hong Kong's Hang Seng index fell 0.90 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,721.60	+62.60	+0.94%
DAX	8,019.22	+41.28	+0.52%
CAC 40	5,847.95	+44.02	+0.76%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	16,737.63	+86.62	+0.52%
Hang Seng	31,352.58	-285.64	-0.90%
Straits Times	3,805.70	+7.25	+0.19%

http://biz.yahoo.com/ap/071031/wall_street.html?.v=47
*Stocks Finish Higher After Fed Rate Cut*
Wednesday October 31, 4:36 pm ET
By Tim Paradis, AP Business Writer
*Stocks Rally As Investors Interpret Fed Decision, Comments on Credit Markets As Upbeat Signs*

NEW YORK (AP) -- Wall Street bounded higher Wednesday after the Federal Reserve lowered interest rates as expected and said risks to the financial markets from the summer's credit crisis have eased. The Dow Jones industrial average gained more than 130 points on the day.

Stocks zigzagged in the minutes after the Fed's decision as some observers read comments from the central bank as indicating further rate reductions are less likely. However, investors appeared relieved that the Fed's comments about the inflation -- a perennial concern -- signaled the central bank was able to return to somewhat more parochial worries and focus less about upheaval in the credit markets than when it met last month.

Investors, businesses and consumers alike will be getting cheaper access to cash because of the Fed's quarter-point rate cut, and that likely gave stocks a boost. The fed funds rate now stands at 4.50 percent. Last month, the Fed surprised the market with a larger-than-expected half-point cut in the funds rate.

"A rather stingy Fed suggests that they see an economy that is in pretty good shape," said Bruce McCain, head of the investment strategy team for Key Private Bank.

"They're saying now we can turn back to the issue of inflation and implicit in that is that the economy is getting back on track," he said.

According to preliminary calculations, the Dow, which had dipped briefly into negative territory after the decision, rose 137.54, or 1 percent, to 13,930.01.

Broader stock indicators advanced. The Standard & Poor's 500 index rose 18.36, or 1.20 percent, to 1,549.38, and the Nasdaq composite index rose 42.41, or 1.51 percent, to 2,859.12.

The Russell 2000 index of smaller companies rose 11.87, or 1.45 percent, to 828.02.

Treasury bond prices fell after the Fed's decision. The yield on the 10-year Treasury note, which moves inversely to its price, rose to 4.47 percent from 4.38 percent late Tuesday.

In comments following its two-day meeting on interest rates, central bank policymakers said recent spikes in energy and commodity prices are among the forces that could be adding to inflation pressures and that "the upside risks to inflation roughly balance the downside risks to growth."

The rate cut came after a 9-1 vote, with Kansas City Fed President Thomas Hoenig dissenting, arguing that he preferred no change in the funds rate.

The Fed appeared more upbeat about the health of the economy than it did last month when it said strains in the credit markets threatened to further pinch the housing market and the economy at large.

The Fed said Wednesday that "economic growth was solid in the third quarter, and strains in financial markets have eased somewhat on balance."

Quincy Krosby, chief investment strategist at The Hartford, said the market decided that the central bank wasn't necessarily ruling out further rate cuts.

"I think that the market finally realized after the initial drop-off that the Fed is saying 'Look, we're going to be data-dependent,'" she said. That would be a return to the Fed's mode of operation before the summer's constriction in the credit markets.

She added that after giving investors the 25 basis point cut most had been expecting, prudence demanded that Fed offer a somewhat cautious statement and address concerns about commodity prices. Oil hit another record Wednesday, while gold rose above $800 an ounce.

"I think that upon analysis of it the market understood that you cannot have oil prices hitting almost $95 a barrel. You have to acknowledge commodity prices."

Oil futures climbed to nearly $95 per barrel for the first time after the government reported an unexpected drop in crude oil inventories for the second week in a row. Light, sweet crude rose $4.15 to settle on the New York Mercantile Exchange at $94.53 -- a rise of $10 in a week. Gold prices rose, surpassing $800 for the first time since 1980, while the dollar fell to a fresh low against the euro and gave up ground against other major currencies.

The day's rate cut came after the Commerce Department said the country's gross domestic product grew at an annual rate of 3.9 percent in the third quarter, a faster pace than the 3 percent growth economists had forecast on average.

Another Commerce Department report showed construction spending increased 0.3 percent in September, the best showing in four months. Spending on commercial construction and for government projects made up for weakness in home building.

The Chicago purchasing managers index of manufacturing activity in the Midwest showed a decline, falling to 49.7 for October from 54.2 a month earlier. A reading below 50 signals a contraction in activity. The index is seen as a harbinger of the national Institute for Supply Management report, to be released Thursday.

The broad concerns about economic data and the Fed come as companies continue to report their quarterly results.

Auto parts maker Visteon Corp. narrowed its loss in the third quarter as cost-cutting tied to its restructuring effort helped offset lower revenue. Visteon rose 49 cents, or 8.4 percent, to $6.35.

McKesson Corp. jumped $7.55, or 12.9 percent, to $66.10 after the prescription drug distributor turned in better-than-expected quarterly results and raised its full-year forecast.

In other news, Google Inc. crossed $700 for the first time Wednesday as investors grew optimistic that the Internet search leader will continue to boost profits as it pushes into new markets. Google shares, which rose $12.23 to finish at $707, took less than a month to jump from $600 to $700.

Advancing issues outnumbered decliners by about 3 to 1 on the New York Stock Exchange, where volume came to 1.56 billion shares compared with 1.22 billion shares traded Tuesday.

Overseas markets closed higher ahead of the Fed's decision. Britain's FTSE 100 rose 0.94 percent, Germany's DAX index added 0.52, and France's CAC-40 gained 0.76 percent. Japan's Nikkei stock average rose 0.52 percent, while Hong Kong's Hang Seng index fell 0.90 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Re: NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

Stocks Plunge; Dow Drops More Than 360

The NYSE DOW closed LOWER by -362.14 points	-2.60% on Thursday November 1:
Sym Last........ ........Change..........
Dow	13,567.87	-362.14	-2.60%
-- Day's Range:	13548.93 - 13924.16
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,794.83	-64.29	-2.25%
-- Day's Range:	2793.17 - 2835.63
-- 52wk Range:	2,316.82 - 2,861.51

S&P 500	1,508.44	-40.94	-2.64%
-- Day's Range:	1506.66 - 1545.79
-- 52wk Range:	1,360.98 - 1,576.09

30-yr Bond	4.6460%	-0.1050
-- Day's Range:	4.6320 - 4.7290
-- 52wk Range:	4.525 - 5.408

NYSE Volume	4,241,924,500
Nasdaq Volume	2,580,105,000


*Overseas*
The plunge in U.S. stocks caused European bourses to tumble. Britain's FTSE 100 was down 2.17 percent, Germany's DAX index fell 1.77 percent, and France's CAC-40 dropped 2.09 percent. 

Japan's Nikkei stock average, which closed before U.S. markets opened, rose 0.79 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,586.10	-135.50	-2.02%
DAX	7,880.85	-138.37	-1.73%
CAC 40	5,730.92	-117.03	-2.00%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	16,870.40	+132.77	+0.79%
Hang Seng	31,492.88	+140.30	+0.45%
Straits Times	3,803.56	-2.14	-0.06%

http://biz.yahoo.com/ap/071101/wall_street.html?.v=66
*Stocks Plunge; Dow Drops More Than 360*
Thursday November 1, 5:06 pm ET
By Joe Bel Bruno, AP Business Writer
*Wall Street Plunges on Fears That Interest Rate Cuts Will End Even As Economy Is Weakening*

NEW YORK (AP) -- Wall Street plunged Thursday, pulling the Dow Jones industrial average down more than 360 points as investors found themselves confronted by two uncomfortable prospects: an end to interest rate cuts and a slowing economy.

Mindful of a warning from the Federal Reserve Wednesday about inflation, the market nervously watched the price of oil, which passed $96 a barrel overnight for the first time before dipping on profit-taking. The Fed, which cut interest rates a quarter point, said in a statement that inflation remained a concern, and oil's ascent to another record raised the possibility not only that the Fed might stop cutting rates, but that it might even consider raising them if inflation accelerates.

Meanwhile, Wall Street also had to contend with concerns about a slowing economy. A report from the Commerce Department indicated consumers scaled back their spending in September as worries mounted about a worsening housing market and further credit market turmoil. And a trade group reported that manufacturing in the U.S. grew in October at the weakest pace since March.

The combination of factors led investors to pull back sharply from Wednesday's rally, in which the Dow climbed 137 points after the Fed said the economy had weathered the summer's credit crisis.

"Wall Street is in love with the idea of a rate cut, and realized that the Fed said inflation is still a concern -- that lowered the chances of a cut in December," said Ryan Detrick, a senior technical strategist with Schaeffer's Investment Research. "We're now feeling the pain now that investors have slept on it, and figured out what they said."

Christopher Cordaro, chief investment officer at RegentAtlantic Capital, said Wall Street remains anxious about the possibility of recession. He also believes the market is devoid of enough positive news "to have any type of sustained rally."

Investors were unswayed when the Fed pumped $41 billion into the U.S. financial system, one of its largest cash infusions since the credit crisis began in the summer. This increases the amount of money banks have to lend, and helps improve liquidity. In the past, such an action helped soothe the market, but that was not the case Thursday.

With the market growing pessimistic about the economy, the Labor Department's report on October jobs creation, scheduled to be released Friday morning, will be taking on even more importance than it usually has. The data is expected to show unemployment remained steady in October, with payroll growth of 85,000 new jobs, compared with 110,000 in September.

The Dow fell 362.14, or 2.60 percent, to 13,567.87.

The Standard & Poor's 500 index was off 40.94, or 2.64 percent, at 1,508.44, while the Nasdaq composite index dropped 64.29, or 2.25 percent, to 2,794.83.

Big late-session moves became common on Wall Street during the summer. Investors remain hopeful that a down market will turn around, but tend to launch a late afternoon selloff if that doesn't happen.

"We've been getting all these mixed signals, and this is just a confluence of bad news between the Fed, the financials, and this mixed earnings season," said Chris Johnson, president of Johnson Research Group.

Financial stocks were pummeled after Citigroup Inc. and Bank of America Corp., the two biggest U.S. banks, were downgraded by CIBC World Markets on worries about the credit markets.

Investors pulling money out of stocks turned to the safe haven of the Treasury market. The yield on the 10-year Treasury note dropped to 4.34 percent from 4.47 percent late Wednesday.

Crude prices vaulted above $96 per barrel in overnight trading. A barrel of light sweet crude settled down $1.04 at $93.49 on the New York Mercantile Exchange.

The Commerce Department's report that consumer spending rose by 0.3 percent in September, slightly lower than the 0.4 percent increase that analysts expected, raised concerns about a slowing economy.

In addition, the performance of the manufacturing sector in October suggested that ongoing troubles in the housing and credit markets have seeped into the industrial sector. The Institute for Supply Management, a Tempe, Ariz.-based trade group, reported its manufacturing index registered 50.9, down from 52.0 in September and below expectations for 51.8. A reading above 50 indicates growth; below that spells contraction.

Also Thursday, the Labor Department said the number of people filing for unemployment benefits declined by a larger-than-expected 6,000 last week to total 327,000.

Wall Street was also troubled by the day's corporate news. Exxon Mobil Corp., the world's largest publicly traded oil company, reported third-quarter profit fell 10 percent because of lower refining and chemical margins. Shares of the Dow component dropped $3.49, or 3.8 percent to $88.50.

Bank of America, the No. 2 U.S. bank, dropped $2.57, or 5.3 percent, to $45.71. Citi, the nation's largest financial institution, dropped $2.85, or 6.9 percent to $38.51 -- its lowest level in four years.

Declining issues outnumbered advancers by about 4 to 1 on the New York Stock Exchange, where volume came to 1.74 billion shares, compared to 1.48 billion on Wednesday.

The Russell 2000 index of smaller companies was down 32.84, or 3.97 percent, at 795.18.

The plunge in U.S. stocks caused European bourses to tumble. Britain's FTSE 100 was down 2.17 percent, Germany's DAX index fell 1.77 percent, and France's CAC-40 dropped 2.09 percent. Japan's Nikkei stock average, which closed before U.S. markets opened, rose 0.79 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## Agentm

fetal positions everyone


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +27.23 points	+0.20% on Friday November 2:
Sym Last........ ........Change..........
Dow	13,595.10	+27.23	+0.20%
-- Day's Range:	13446.02 - 13632.90
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,810.38	+15.55	+0.56%
-- Day's Range:	2773.82 - 2817.03
-- 52wk Range:	2,316.82 - 2,861.51

S&P 500	1,509.65	+1.21	+0.08%
-- Day's Range:	1492.53 - 1513.15
-- 52wk Range:	1,360.98 - 1,576.09

30-yr Bond	4.5950%	-0.0510
-- Day's Range:	4.5820 - 4.6830
-- 52wk Range:	4.525 - 5.408

NYSE Volume	4,338,039,000
Nasdaq Volume	2,485,408,500

*Overseas*
Overseas, Britain's FTSE 100 fell 0.84 percent, Germany's DAX index shed 0.40 percent, and France's CAC-40 declined 0.18 percent. 

Asian markets tumbled in the wake of Wall Street's losses on Thursday. Japan's Nikkei stock average closed down 2.09 percent, while Hong Kong's Hang Seng index fell 3.25 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,530.60	-55.50	-0.84%
DAX	7,849.49	-31.36	-0.40%
CAC 40	5,720.42	-10.50	-0.18%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	16,517.48	-352.92	-2.09%
Hang Seng	30,468.34	-1,024.54	-3.25%
Straits Times	3,715.32	-88.24	-2.32%

http://biz.yahoo.com/ap/071102/wall_street.html?.v=40
*Wall Street Ends Volatile Session Higher*
Friday November 2, 6:30 pm ET
By Tim Paradis, AP Business Writer
*Stocks Finish Higher As Credit Market Worries Ease Somewhat, but Wall Street Remains Shaky
*
NEW YORK (AP) -- Wall Street twisted its way through another difficult session Friday, discouraged about the economy's prospects but still managing a higher finish after some concerns about the beleaguered financial sector lifted late in the session. The major indexes ended the week mixed.

Word shortly before the close that Citigroup Inc.'s board plans to meet in an emergency session over the weekend helped that stock and other financials pare steep losses.

Friday's session ended a week made turbulent not only by bad news from the financial sector but also by spiking commodity prices and hints from the Federal Reserve that it might be less generous with interest rate cuts in the coming months. A highly anticipated Labor Department report Friday showed employers added 166,000 jobs in October -- the most in five months and nearly double what analysts expected -- but didn't give stocks much of a lift a day after a sharp pullback as investors' unease about the financial sector blanketed trading.

Wall Street remained shaky after Thursday's sharp pullback, which took the Dow Jones industrial average down more than 360 points -- the fourth biggest drop of the year. The market has been mercurial lately, with economic data coming in mixed and the possibility of interest rate cuts ending, and Friday's trading saw the major indexes alternating between gains and losses.

"I think there is a lot of uncertainty in the markets about the financial institutions in particular," said Subodh Kumar, global investment strategist at Subodh Kumar & Assoc. in Toronto. "This market will remain volatile until these issues are resolved or until it's had a full 10 percent correction," he said, referring to unease about the extent of write-downs.

The Dow rose 27.23, or 0.20 percent, to 13,595.10 after being down more than 120 points at one point in the session.

Broader stock indicators also closed higher. The Standard & Poor's 500 index rose 1.21, or 0.08 percent, to 1,509.65, while the Nasdaq composite index rose 15.55, or 0.56 percent, to 2,810.38.

The Dow and the S&P 500 ended the week with losses, the Dow dropping 1.53 percent and the S&P off 1.67 percent. The Nasdaq managed a gain of 0.22 percent.

Bond prices rose as investors pulled more money out of stocks. The yield on the 10-year Treasury note, which moves opposite the price, fell to 4.32 percent from 4.35 percent late Thursday.

Oil prices rebounded on the New York Mercantile Exchange, after dropping sharply Thursday. Prices have been exceptionally volatile in recent days as the market treads through record territory. A barrel of oil settled up $2.44 at $95.93.

The dollar traded mostly lower against other major currencies. The euro bought a record $1.4527 on Friday.

Some of the biggest losers in the stock market Friday, as they have been in the past few months, were financial institutions -- including Merrill Lynch & Co., Washington Mutual Inc., Goldman Sachs Group Inc. and JPMorgan Chase & Co. Several analysts have issued research notes in recent days expressing concern about banks' and brokerages' exposure to the tight credit markets and the likelihood that further write-downs are in the offing.

It's likely that as strong as the jobs number was, investors will need to see more evidence of a stronger economy and more stability in the credit markets before they can make any major commitments to stocks, observers said.

The market on Thursday was unnerved by news that consumers cut back their spending in September and that the manufacturing sector expanded in October at the slowest pace since March. But earlier in the week, an initial estimate of third-quarter economic growth came in stronger than economists had expected, at 3.9 percent.

The economic news that arrived Friday added to the mixed picture. The unemployment rate held steady at 4.7 percent, in line with September and analysts' consensus forecast. And while the increase in jobs was well above what economists polled by Thomson/IFR had expected, the size of the civilian labor force shrank.

Jack Ablin, chief investment officer at Harris Private Bank, contends investors were downplaying an upbeat jobs figure and that the decrease in the labor force should be a lesser concern.

"I think investors who are worried about the direction of the economy should take comfort that we still have an engine," he said, referring to the overall employment picture. "We know we can't rely on the consumer to keep spending the way that they have but we can point to job growth and wage gains as solid evidence that our economy is on solid footing."

As has occurred frequently in recent weeks, technology and small-capitalization issues outperformed much of the broader market Friday.

"Certainly there are problems surrounding several financial institutions and investors seem like they are channeling their investments away from financials and toward growth stocks and things like consumer staples, health care and technology," said Ablin.

But enthusiasm for some corners of the market, concerns about the financials continued to weigh on investors. The Wall Street Journal, citing two people familiar with the matter, reported in the final minutes of the session Friday that Citi's board plans to meet over the weekend and that the discussion will include whether the bank will book further write-downs.

Citigroup, fresh off its biggest decline in years on Thursday, fell again Friday but pared much of the day's losses following report of the planned meeting. The stock closed down 78 cents, or 2 percent, at $37.73.

In addition to Citi, Merrill fell $4.91, or 7.9 percent, to $57.28; Washington Mutual fell $1.94, or 7.5 percent, to $23.81; Goldman Sachs fell $10.61, or 4.4 percent, to $229.60; and JPMorgan fell $1.17, or 2.6 percent, to $43.15.

Declining issues outnumbered advancers by about 6 to 5 on the New York Stock Exchange, where consolidated volume came to 4.18 billion shares, compared with 4.20 billion shares traded Thursday.

The Russell 2000 index, which tracks the performance of small-capitalization stocks, rose 2.60, or 0.33 percent, to 797.78.

Overseas, Britain's FTSE 100 fell 0.84 percent, Germany's DAX index shed 0.40 percent, and France's CAC-40 declined 0.18 percent. Asian markets tumbled in the wake of Wall Street's losses on Thursday. Japan's Nikkei stock average closed down 2.09 percent, while Hong Kong's Hang Seng index fell 3.25 percent.

The Dow Jones industrial average ended the week down 211.60, or 1.53 percent, at 13,595.10. The Standard & Poor's 500 index finished down 25.63, or 1.67 percent, at 1,509.65. The Nasdaq composite index ended up 6.19, or 0.22 percent, at 2,810.38.

The Russell 2000 index finished the week down 23.61, or 2.87 percent, at 797.78.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 15,268.82, down 249.30 points, or 1.61 percent, for the week. A year ago, the index was at 13,683.52.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by -39.10 points	-0.29% on Monday November 5:
Sym Last........ ........Change..........
Dow	13,556.00	-39.10	-0.29%
-- Day's Range:	13446.91 - 13618.27
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,798.12	-12.26	-0.44%
-- Day's Range:	2771.91 - 2807.51
-- 52wk Range:	2,316.82 - 2,861.51

S&P 500	1,504.06	-5.59	-0.37%
-- Day's Range:	1489.95 - 1510.13
-- 52wk Range:	1,360.98 - 1,576.09

30-yr Bond	4.6160%	+0.0210
-- Day's Range:	4.5940 - 4.6340
-- 52wk Range:	4.525 - 5.408

NYSE Volume	2,410,050,000
Nasdaq Volume	1,988,166,620

*Overseas*
The concerns about credit weighed on stock markets overseas. 

In Europe, Britain's FTSE 100 fell 1.06 percent, Germany's DAX index shed 0.53, and France's CAC-40 declined 0.63 percent. In Asia, 

Japan's Nikkei stock average fell 1.50 percent, while Hong Kong's Hang Seng index fell 5.01 percent. The decline in Hong Kong also reflects concern over a possible delay of a government plan to list shares of mainland Chinese companies there.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,461.40	-69.20	-1.06%
DAX	7,807.55	-41.94	-0.53%
CAC 40	5,684.62	-35.80	-0.63%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	16,268.92	-248.56	-1.50%
Hang Seng	28,942.32	-1,526.02	-5.01%
Straits Times	3,670.18	-45.14	-1.21%

http://biz.yahoo.com/ap/071105/wall_street.html?.v=50
*Stocks Fall on Housing, Credit Concerns*
Monday November 5, 3:48 pm ET
By Tim Paradis, AP Business Writer
*Stocks Pull Back As Citigroup Write-Downs Stir Concerns About Widespread Credit Problems*

NEW YORK (AP) -- Wall Street pulled back Monday as investors grew more concerned about a deteriorating housing market and the widening impact of soured debt after Citigroup Inc. warned it plans to book $8 billion to $11 billion in additional losses. The market regained ground in late trading, but the buying was technical in nature and lacked any real conviction about the direction of stocks.

Citi's expected losses came on top of the $6.5 billion in asset markdowns and other credit-related losses the company recorded in the third quarter. The re-emergence of credit concerns -- like those that pummeled Wall Street this summer -- comes as the market is also contending with concerns about housing and the health of consumer spending, and with rising expectations that the Federal Reserve is leaning away from cutting interest rates when it meets next month.

Some of the uncertainty about debt centers on who might be holding more bad loans, including some that are kept at arm's length in off-book investment vehicles but that nonetheless could require some banks to take a hit should the investments falter.

A central banker's warning Monday that the subprime mortgage market will likely deteriorate further added to the pressure on stock prices. Fed Gov. Randall Kroszner told the Consumer Bankers Association Fair Lending Conference in Washington that "conditions for subprime borrowers have the potential to get worse before they get better."

The problems may be spreading. A Federal Reserve survey of banks showed that lenders are making it harder to get a home loan, even for borrowers with good credit. About 40 percent of respondents said they had tightened lending standards on prime mortgages during October, up from just 15 percent in July.

"We're at the point now where more and more evidence is starting to emerge that the next 12 months are going to be more difficult," said Joe Battipaglia, market strategist with Stifel Nicolaus & Co.'s private client group. "Problems in housing market are getting deeper and more treacherous," as home inventories rise and sale prices fall.

In the last minutes of trading, the Dow Jones industrial average was down 11.54, or 0.08 percent, at 13,583.56. The Dow was down more than 120 points earlier in the session and briefly popped into the plus side in late afternoon.

The buying was likely the result of short covering, when traders buy stock to cover bets they made earlier that the market would decline. In short covering, traders are not looking to economics or other market fundamentals when they decide to buy.

"I think we're seeing a market that is probably absorbing all the negative news out of subprime and staying in a trading range now," said Peter Cardillo, chief market economist at brokerage house Avalon Partners Inc. "When we get down to certain technical levels, buying comes in and we're seeing that today."

Broader stock indicators also fell. The Standard & Poor's 500 index fell 2.70, or 0.18 percent, to 1,506.95, and the Nasdaq composite index fell 7.19, or 0.26 percent, to 2,803.19.

The Russell 2000 index of smaller companies fell 4.14, or 0.52 percent, to 793.65.

Bonds prices fell, with the yield on the benchmark 10-year Treasury note rising to 4.34 percent, up from 4.32 percent late Friday.

A snapshot of the service sector appeared to briefly soften some investor concerns that the troubles in the financial sector would prove onerous enough to spill into other areas of the economy. The Institute for Supply Management said the service sector grew at a faster-than-expected pace in October amid strength in new orders.

The ISM's index gauging the health of non-manufacturing industries rose to 55.8 from 54.8 in September. A reading above 50 signifies economic expansion.

The unease over Citi's debt follows the widely expected decision by Charles Prince to resign as the company's chairman and chief executive at an emergency meeting of its board Sunday. Citi fell $1.83, or 4.9 percent, to $35.90 and was the steepest decliner among the 30 stocks that make up the Dow industrials.

Prince's resignation came less than a week after Stan O'Neal stepped down as CEO at Merrill Lynch & Co. Both Citi and Merrill have struggled with securities they hold that are tied to subprime loans, those made to borrowers with poor credit. A faltering housing market has made it difficult for those struggling with mortgage payments to refinance and pay off debts. Now, foreclosure rates are spiking and many banks are left holding loans worth far less than they had once been.

As it had Friday, Merrill Lynch fell amid concerns it would have to make an announcement of further write-downs. Last month, Merrill Lynch said it would write off $8.4 billion in losses. Merrill fell $1.13 to $56.15 after falling nearly 8 percent Friday.

"Financials are struggling with this really unknowable and unending plague of asset quality," said John Merrill, chief investment officer at Tanglewood Capital Management in Houston. He expects that while the big financial houses will likely continue to book write-downs as homeowners default on their mortgages the stock prices of the financials aren't likely to fall precipitously from where they stand.

Citigroup is down about 34 percent since the start of the year while Merrill Lynch is down about 42 percent.

Beyond concerns about debt, political uncertainty over a weekend decision by Pakistan President Gen. Pervez Musharraf to suspended the constitution helped shore up some support for the U.S. dollar as investors sought safety. The dollar rose against most other major currencies, while gold prices rose.

Light, sweet crude lost $1.95 to settle at $93.98 per barrel on the New York Mercantile Exchange.

Declining issues outnumbered advancers by more than 2 to 1 on the New York Stock Exchange, where volume came to 1.32 billion shares.

The concerns about credit weighed on stock markets overseas. In Europe, Britain's FTSE 100 fell 1.06 percent, Germany's DAX index shed 0.53, and France's CAC-40 declined 0.63 percent. In Asia, Japan's Nikkei stock average fell 1.50 percent, while Hong Kong's Hang Seng index fell 5.01 percent. The decline in Hong Kong also reflects concern over a possible delay of a government plan to list shares of mainland Chinese companies there.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

*NYSE Dow Jones finished today at:*
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +76.82 points	+0.57% on Tuesday November 6:
Sym Last........ ........Change..........
Dow	13,620.22	+76.82	+0.57%
-- Day's Range:	13511.86 - 13626.80
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,813.25	+18.07	+0.65%
-- Day's Range:	2780.22 - 2814.79
-- 52wk Range:	2,331.57 - 2,861.51

S&P 500	1,514.95	+12.78	+0.85%
-- Day's Range:	1,499.36 - 1,514.95
-- 52wk Range:	1,363.98 - 1,576.09

30-yr Bond	4.6520%	+0.0360
-- Day's Range:	4.6150 - 4.6650
-- 52wk Range:	4.525 - 5.408

NYSE Volume	2,322,956,250
Nasdaq Volume	2,075,326,620

*Overseas*
Japan's Nikkei stock average closed down 1.62 percent, while Hong Kong's Hang Seng index rose 1.71 percent a day after falling 5 percent. 

Britain's FTSE 100 rose 0.21 percent, Germany's DAX index rose 0.25 percent, and France's CAC-40 rose 0.44 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,474.90	+13.50	+0.21%
DAX	7,827.19	+19.64	+0.25%
CAC 40	5,709.42	+24.80	+0.44%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	16,249.63	-19.29	-0.12%
Hang Seng	29,438.13	+495.81	+1.71%
Straits Times	3,683.10	+12.92	+0.35%

http://biz.yahoo.com/ap/071106/wall_street.html?.v=32
*Wall Street Recovers After Pullback*
Tuesday November 6, 2:39 pm ET
By Madlen Read, AP Business Writer
*Investors Seek Bargains, Stocks Recover After Pullback on More Credit and Inflation Concerns*

NEW YORK (AP) -- Wall Street recovered from early losses Tuesday as investors, while still worried about credit problems at big financial companies, went in search of bargain stocks.

Big names such as Citigroup Inc. and Merrill Lynch & Co. have stirred gloom on Wall Street by taking or warning of big debt write-downs. Citi and Merrill, among others, have been hurt by securities they hold that are tied to subprime loans, those made to borrowers with poor credit. A sharp pullback in housing prices has tripped up borrowers and sent mortgage defaults higher. That soured debt has come back to haunt banks.

But stocks fell far enough that investors saw opportunities to buy. Though Citigroup fell, JPMorgan Chase & Co., Bank of America Corp., Wachovia Corp. and Washington Mutual Inc. all rose more than 2 percent. Other gainers included companies that impressed Wall Street with their earnings results, like Tenet Healthcare Corp., Nortel Networks Corp. and Archer Daniels Midland Co.

"Short-term volatility is here to stay," said Anthony Conroy, managing director at BNY ConvergEx Group, which means that it's a stock-picker's market. "If you do your due diligence, you can make money in the markets."

Meanwhile, concerns about inflation persisted. Gold prices neared 27-year high of $825 an ounce, and oil moved back into record territory. Light, sweet crude jumped $2.89 to $96.87 per barrel on the New York Mercantile Exchange after earlier crossing $97 for the first time.

In midafternoon trading, the Dow Jones industrial average rose 50.07, or 0.37 percent, to 13,593.47 after falling in earlier trading.

Broader stock indicators also turned higher. The Standard & Poor's 500 index rose 7.86, or 0.52 percent, to 1,510.03, and the Nasdaq composite index fell 4.58, or 0.16 percent, to 2,799.76.

Advancing issues narrowly outnumbered decliners on the New York Stock Exchange, where volume came to 963.3 million shares.

Government bonds dipped slightly. The yield on the 10-year Treasury note, which moves opposite the price, stood at 4.36 percent, higher than the 4.34 percent seen late Monday.

The dollar reached yet another record low against the euro Tuesday. The 13-nation currency rose to a high of $1.4569 before falling back slightly.

Gold rose $13.80 to $824.60 an ounce.

One of the most active stocks on the New York Stock Exchange Tuesday was silver and gold miner Coeur d'Alene Mines Corp., which shot higher on higher metals prices and a Bear Stearns analyst's comment that the stock is underpriced. Shares climbed 55 cents, or 14.6 percent, to $4.39.

Fed Chairman Ben Bernanke spoke in San Antonio Tuesday afternoon, but his prepared remarks did not address monetary policy or the direction of interest rates, and he wasn't scheduled to take any questions during his appearance. Investors are also awaiting his scheduled testimony Thursday before Congress' Joint Economic Committee.

With no major economic news due Tuesday, investors were focused on corporate results.

Hospital operator Tenet Healthcare reported its third-quarter loss narrowed on higher charges and more admissions in commercial managed care. Tenet rose 58 cents, or 18 percent, to $3.81.

Nortel Networks said it swung to a profit in the third quarter despite lower revenue. The Canadian telecom equipment supplier reported its best operating margin since 2004. Nortel rose $2.17, or 13 percent, to $18.45.

Agricultural processor Archer Daniels Midland Co. said its fiscal first-quarter profit rose 9 percent as improved results at its oilseeds processing business offset higher corn prices. ADM rose $2.59, or 7.5 percent, to $37.11.

The Russell 2000 index of smaller companies rose 1.75, or 0.22 percent, to 792.18.

Overseas, Japan's Nikkei stock average closed down 1.62 percent, while Hong Kong's Hang Seng index rose 1.71 percent a day after falling 5 percent. Britain's FTSE 100 rose 0.21 percent, Germany's DAX index rose 0.25 percent, and France's CAC-40 rose 0.44 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

*CORRECTION of prior posting for DOW, Nasdaq. S&P*
-- prior pasted just before the close; 

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +117.54 points	+0.87% on Tuesday November 6:
Sym Last........ ........Change..........
Dow	13,660.94	+117.54	+0.87%
Nasdaq	2,825.18	+30.00	+1.07%
S&P 500	1,520.27	+18.10	+1.20%
30-yr Bond	4.6520%	+0.0360
NYSE Volume	3,894,447,500
Nasdaq Volume	2,552,010,500

Overseas
Japan's Nikkei stock average closed down 1.62 percent, while Hong Kong's Hang Seng index rose 1.71 percent a day after falling 5 percent.

Britain's FTSE 100 rose 0.21 percent, Germany's DAX index rose 0.25 percent, and France's CAC-40 rose 0.44 percent.

Europe
Symbol... Last...... .....Change.......
FTSE 100 6,474.90 +13.50 +0.21%
DAX 7,827.19 +19.64 +0.25%
CAC 40 5,709.42 +24.80 +0.44%

Asia
Symbol..... Last............ .....Change.......
Nikkei 225 16,249.63 -19.29 -0.12%
Hang Seng 29,438.13 +495.81 +1.71%
Straits Times 3,683.10 +12.92 +0.35%

Thank you ToddPowers


----------



## STRAT

Agentm said:


> fetal positions everyone



resume the position


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

*Stocks Plunge; Dow Drops More Than 360 -- fetal positions everyone*

The NYSE DOW closed LOWER by -360.92 points	-2.64% on Wednesday November 7:
Sym Last........ ........Change..........
Dow	13,300.02	-360.92	-2.64%
-- Day's Range:	13287.50 - 13647.29
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,748.76	-76.42	-2.70%
-- Day's Range:	2748.31 - 2810.19
-- 52wk Range:	2,331.57 - 2,861.51

S&P 500	1,475.62	-44.65	-2.94%
-- Day's Range:	1475.04 - 1515.46
-- 52wk Range:	1,363.98 - 1,576.09

30-yr Bond	4.6680%	+0.0160
-- Day's Range:	4.6300 - 4.6870
-- 52wk Range:	4.525 - 5.408

NYSE Volume	2,652,862,250
Nasdaq Volume	2,463,561,500


*Overseas*
The plunge in U.S. stocks caused European bourses to tumble. Britain's FTSE 100 was down 2.17 percent, Germany's DAX index fell 1.77 percent, and France's CAC-40 dropped 2.09 percent. 

Japan's Nikkei stock average, which closed before U.S. markets opened, rose 0.79 percent

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,420.10	-54.80	-0.85%
DAX	7,799.62	-27.57	-0.35%
CAC 40	5,683.22	-26.20	-0.46%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	16,096.68	-152.95	-0.94%
Hang Seng	29,708.93	+270.80	+0.92%
Straits Times	3,673.01	-10.09	-0.27%

http://biz.yahoo.com/ap/071101/wall_street.html
*Stocks Plunge; Dow Drops More Than 360*
Thursday November 1, 5:55 pm ET
By Joe Bel Bruno, AP Business Writer
*Wall Street Plunges on Fears That Interest Rate Cuts Will End Even As Economy Is Weakening*

NEW YORK (AP) -- Wall Street plunged Thursday, pulling the Dow Jones industrial average down more than 360 points as investors found themselves confronted by two uncomfortable prospects: an end to interest rate cuts and a slowing economy.

Mindful of a warning from the Federal Reserve Wednesday about inflation, the market nervously watched the price of oil, which passed $96 a barrel overnight for the first time before dipping on profit-taking. The Fed, which cut interest rates a quarter point, said in a statement that inflation remained a concern, and oil's ascent to another record raised the possibility not only that the Fed might stop cutting rates, but that it might even consider raising them if inflation accelerates.

Meanwhile, Wall Street also had to contend with concerns about a slowing economy. A report from the Commerce Department indicated consumers scaled back their spending in September as worries mounted about a worsening housing market and further credit market turmoil. And a trade group reported that manufacturing in the U.S. grew in October at the weakest pace since March.

The combination of factors led investors to pull back sharply from Wednesday's rally, in which the Dow climbed 137 points after the Fed said the economy had weathered the summer's credit crisis.

"Wall Street is in love with the idea of a rate cut, and realized that the Fed said inflation is still a concern -- that lowered the chances of a cut in December," said Ryan Detrick, a senior technical strategist with Schaeffer's Investment Research. "We're now feeling the pain now that investors have slept on it, and figured out what they said."

Christopher Cordaro, chief investment officer at RegentAtlantic Capital, said Wall Street remains anxious about the possibility of recession. He also believes the market is devoid of enough positive news "to have any type of sustained rally."

Investors were unswayed when the Fed pumped $41 billion into the U.S. financial system, one of its largest cash infusions since the credit crisis began in the summer. This increases the amount of money banks have to lend, and helps improve liquidity. In the past, such an action helped soothe the market, but that was not the case Thursday.

With the market growing pessimistic about the economy, the Labor Department's report on October jobs creation, scheduled to be released Friday morning, will be taking on even more importance than it usually has. The data is expected to show unemployment remained steady in October, with payroll growth of 85,000 new jobs, compared with 110,000 in September.

The Dow fell 362.14, or 2.60 percent, to 13,567.87.

The Standard & Poor's 500 index was off 40.94, or 2.64 percent, at 1,508.44, while the Nasdaq composite index dropped 64.29, or 2.25 percent, to 2,794.83.

Big late-session moves became common on Wall Street during the summer. Investors remain hopeful that a down market will turn around, but tend to launch a late afternoon selloff if that doesn't happen.

"We've been getting all these mixed signals, and this is just a confluence of bad news between the Fed, the financials, and this mixed earnings season," said Chris Johnson, president of Johnson Research Group.

Financial stocks were pummeled after Citigroup Inc. and Bank of America Corp., the two biggest U.S. banks, were downgraded by CIBC World Markets on worries about the credit markets.

Investors pulling money out of stocks turned to the safe haven of the Treasury market. The yield on the 10-year Treasury note dropped to 4.35 percent from 4.47 percent late Wednesday, and was unchanged in after-hours trading.

Crude prices vaulted above $96 per barrel in overnight trading. A barrel of light sweet crude settled down $1.04 at $93.49 on the New York Mercantile Exchange.

The Commerce Department's report that consumer spending rose by 0.3 percent in September, slightly lower than the 0.4 percent increase that analysts expected, raised concerns about a slowing economy.

In addition, the performance of the manufacturing sector in October suggested that ongoing troubles in the housing and credit markets have seeped into the industrial sector. The Institute for Supply Management, a Tempe, Ariz.-based trade group, reported its manufacturing index registered 50.9, down from 52.0 in September and below expectations for 51.8. A reading above 50 indicates growth; below that spells contraction.

Also Thursday, the Labor Department said the number of people filing for unemployment benefits declined by a larger-than-expected 6,000 last week to total 327,000.

Wall Street was also troubled by the day's corporate news. Exxon Mobil Corp., the world's largest publicly traded oil company, reported third-quarter profit fell 10 percent because of lower refining and chemical margins. Shares of the Dow component dropped $3.49, or 3.8 percent to $88.50.

Bank of America, the No. 2 U.S. bank, dropped $2.57, or 5.3 percent, to $45.71. Citi, the nation's largest financial institution, dropped $2.85, or 6.9 percent to $38.51 -- its lowest level in four years.

Declining issues outnumbered advancers by about 4 to 1 on the New York Stock Exchange, where consolidated volume came to 4.20 billion shares, compared to 3.84 billion shares on Wednesday.

The Russell 2000 index of smaller companies was down 32.84, or 3.97 percent, at 795.18.

The plunge in U.S. stocks caused European bourses to tumble. Britain's FTSE 100 was down 2.17 percent, Germany's DAX index fell 1.77 percent, and France's CAC-40 dropped 2.09 percent. Japan's Nikkei stock average, which closed before U.S. markets opened, rose 0.79 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

WOW: "at one point the Dow had fallen another 200 points" 

The NYSE DOW closed LOWER by -33.73 points	-0.25% on Thursday November 8:
Sym Last........ ........Change..........
Dow	13,266.29	-33.73	-0.25%
-- Day's Range:	13080.30 - 13354.00
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,696.00	-52.76	-1.92%
-- Day's Range:	2648.03 - 2753.05
-- 52wk Range:	2,331.57 - 2,861.51

S&P 500	1,474.77	-0.85	-0.06%
-- Day's Range:	1450.31 - 1482.50
-- 52wk Range:	1,363.98 - 1,576.09

30-yr Bond	4.6620%	-0.0060

NYSE Volume	5,107,366,500
Nasdaq Volume	3,461,822,750


*Overseas*
Japan's Nikkei stock average closed down 2.02 percent and Hong Kong's Hang Seng index fell 3.19 percent. 

Britain's FTSE 100 fell 0.05 percent, Germany's DAX index rose 0.25 percent, and France's CAC-40 fell 0.91 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,381.90	-3.20	-0.05%
DAX	7,819.47	+19.85	+0.25%
CAC 40	5,631.63	-51.59	-0.91%

Asia
Symbol..... Last............ .....Change.......
Nikkei 225	15,771.57	-325.11	-2.02%
Hang Seng	28,760.22	-948.71	-3.19%
Straits Times	3,673.01	-10.09	-0.27%

http://biz.yahoo.com/ap/071108/wall_street.html?.v=37
*Wall Street Ends Down but Pares Losses*
Thursday November 8, 4:36 pm ET
By Tim Paradis, AP Business Writer
*Wall Street Pares Losses Brought by Economic Concerns, Worries About Tech*

NEW YORK (AP) -- Wall Street closed another difficult session lower but well above its worst losses Thursday after a late-day rebound in financial shares lifted many other stock sectors. Investors still kept their distance from technology shares after a lackluster forecast from Cisco Systems Inc.

Stocks extended the previous day's steep losses after Federal Reserve Chairman Ben Bernanke warned that a raft of economic troubles could dent business growth and after Cisco's comments touched off unease about business spending. But buyers moved back in late in the session, apparently thinking the market's selloff had been overdone even with the host of concerns investors face, observers said.

Bernanke, appearing before Congress' Joint Economic Committee with the Fed's economic forecast, warned of threats to the economy but didn't offer solid evidence the bank is prepared to further cut interest rates.

The slide seen during much of the session -- at one point the Dow had fallen another 200 points -- came a day after stocks tumbled amid concerns about continuing credit woes, a weakening dollar and rising oil prices.

Investors also had fresh reason for concern about toxicity within the credit markets. Morgan Stanley issued a detailed accounting of its exposure to subprime debt, pleasing investors by eliminating some of the uncertainty that has wracked Wall Street to varying degrees in recent months. But Morgan said late Wednesday its fourth-quarter profit could be reduced by $2.5 billion in write-downs related to troubles in the credit market, a reminder of the widespread damage from soured loans.

"The market gets oversold regardless of the fundamentals," said Brandon Thomas, chief investment officer of Portfolio Management Consultants, the investment arm of Envestnet Asset Management.

"What the market does is it steps back and says 'Are we becoming oversold here even on a short-term basis?' I think there's been a lot of bottom fishing," he said.

According to preliminary calculations, the Dow Jones industrial average fell 33.73, or 0.25 percent, to 13,266.29. The decline comes a day after the blue chips fell 360.92; Wednesday's decline was the third drop of more than 350 points in a month, offering the latest sign of how jittery many investors remain.

Broader stock indicators also came off their lows. The Standard & Poor's 500 index fell 0.85, or 0.06 percent, to 1,474.77, and the technology-heavy Nasdaq fell 52.76, or 1.92 percent, to 2,696.00.

Declining issues outnumbered advancers by more than 8 to 7 on the New York Stock Exchange, where volume came to a heavy 2.17 billion shares compared with 1.66 billion traded Wednesday.

Government bonds rose as stocks retreated. The yield on the 10-year Treasury note, which moves opposite its price, fell to 4.27 percent from 4.30 percent late Wednesday.

The Chicago Board Options Exchange's volatility index, known as the VIX, and often referred to as the "fear index," which jumped nearly 24 percent Wednesday, fell 3.9 percent but still remained near levels not seen since mid-August.

The dollar was lower against most other major currencies. Gold prices advanced for the fifth straight day as investors looked for alternatives to an anemic dollar. Gold rose $4 to a record close of $837.50 an ounce on the New York Mercantile Exchange.

Light, sweet crude fell 91 cents to $95.46 on the New York Mercantile Exchange.

Bernanke's words -- even those that might have helped ease some of Wall Street's concerns -- appeared to leave investors with little optimism for much of the session.

Bernanke acknowledged the market's recent jitters but said he believes the economy will rebound from recent problems by the second half of next year. But he added that rising prices for oil and other commodities had stoked concerns about inflation and repeated the Fed's assessment made last week that monetary policy seemed well-balanced to allow for growth while curtailing inflation.

Thomas contends the Fed will only be able to do so much, particularly because a rate cut could give way to higher inflation and could further undermine the dollar.

"It's a real difficult time because whichever way they push and pull the level it causes problems," he said.

While investors parsed Bernanke's comments for clues about the Fed's plans, they also looked to mixed corporate news.

Morgan Stanley led financial stocks higher, rising $2.49, or 4.9 percent, to $53.68 after the nation's No. 2 investment bank appeared to relieve investors who had grown fearful that its subprime losses could be worse. The bank said it could lose up to $6 billion if all subprime mortgage-related investments were to go bad.

Cisco fell $3.12, or 9.5 percent, to $29.63 after the world's largest maker of networking equipment issued forecasts that disappointed Wall Street and stirred concerns of a further slowdown in spending by businesses.

A narrower-than-expected third-quarter loss at Ford Motor Co. and word of a buyout offer in the mining sector weren't able to sustain higher prices.

Stripping out items that analysts typically exclude, Ford's loss came to a penny a share. This was far less than the 46 cent-a-share loss analysts had been expecting on average, according to a Thomson Financial poll. Ford rose 24 cents, or 2.9 percent, to $8.48.

Mining company BHP Billiton PLC confirmed speculation it would go after rival Rio Tinto PLC. While Rio Tinto rejected the offer, the notion that BHP would make a buyout offer given recent uncertainty in the world's markets seemed to please investors. BHP Billiton fell $3.50, or 4.4 percent, to $76.85, while Rio Tinto surged $82.70, or 23 percent, to $440.20.

The Russell 2000 index of smaller companies rose 4.94, or 0.64 percent, to 780.94.

Overseas, Japan's Nikkei stock average closed down 2.02 percent and Hong Kong's Hang Seng index fell 3.19 percent. Britain's FTSE 100 fell 0.05 percent, Germany's DAX index rose 0.25 percent, and France's CAC-40 fell 0.91 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The Dow Jones industrial average fell more than 220 points -- fetal positions everyone

The Dow Jones industrial average ended the week down 552.36, or 4.06 percent, at 13,042.74.

The NYSE DOW closed LOWER by -223.55 points	-1.69% on Friday November 9:
Sym Last........ ........Change..........
Dow	13,042.74	-223.55	-1.69%
-- Day's Range:	13,017.30 - 13,262.14
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,627.94	-68.06	-2.52%
-- Day's Range:	2624.43 - 2668.79
-- 52wk Range:	2,331.57 - 2,861.51

S&P 500	1,453.70	-21.07	-1.43%
-- Day's Range:	1448.51 - 1473.83
-- 52wk Range:	1,363.98 - 1,576.09

30-yr Bond	4.6020%	-0.0600

NYSE Volume	4,631,028,000
Nasdaq Volume	3,016,567,750

*Overseas*
Japan's Nikkei stock average closed down 1.19 percent and Hong Kong's Hang Seng index rose 0.08 percent. 

Britain's FTSE 100 was down 1.21 percent, Germany's DAX index fell 0.09 percent, and France's CAC-40 shed 1.91 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,304.90	-77.00	-1.21%
DAX	7,812.40	-7.07	-0.09%
CAC 40	5,524.18	-107.45	-1.91%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	15,583.42	-188.15	-1.19%
Hang Seng	28,783.41	+23.19	+0.08%
Straits Times	3,599.67	-73.34	-2.00%

http://biz.yahoo.com/ap/071109/wall_street.html?.v=43
*Stocks End Volatile Week With Huge Drop*
Friday November 9, 7:04 pm ET
By Joe Bel Bruno, AP Business Writer
*Stocks Skid Again; Investors on Edge As Wachovia Takes Writedown, Economic Worries Persist*

NEW YORK (AP) -- Wall Street finished a turbulent week with another huge drop Friday after major banks warned of further losses on their debt portfolios, raising investor concerns that the credit market slump shows no sign of abating. The Dow Jones industrial average fell more than 220 points.

Bank of America Corp., JPMorgan Chase & Co. and Wachovia Corp. all said the ongoing credit crisis will cause another round of heavy losses during the fourth quarter. Financial institutions took big hits during the last quarter as losses from subprime mortgages hurt their balance sheets, and these three companies were just the latest to report bad news that sent stocks lower.

BofA said continued "market dislocations," including those related to securities it owns that are backed by loans, will affect its fourth-quarter results. The bank did not provide an estimate of how large the impact will be. JPMorgan said difficult conditions may cause a fourth-quarter writedown, but did not say how much.

Wachovia, the nation's fourth-largest bank said it faced a $1.1 billion writedown for October alone. Investors also were rattled by speculation that Barclays PLC was about to announce a $10 billion writedown, though the U.K. bank denied the rumors.

"The extent of the situation is unknown, and that uncertainty doesn't give investors any reasons to believe that a bottom might be in place," said Todd Salamone, director of trading and vice president of research at Schaeffer's Investment Research. "We just got more of the same this week rattling investors, and the question for investors becomes what's the next catalyst to drive stocks higher."

Further worries about the continuing credit market slump kept investors on edge a day after Federal Reserve Chairman Ben Bernanke said he expects the economy to "slow noticeably" this quarter.

He also said the dollar's weakness "may have some effect on import prices" -- which was confirmed Friday in new government data. The Commerce Department reported U.S. import prices soared last month at their fastest pace since early last year.

Meanwhile, the University of Michigan's preliminary November consumer sentiment index tumbled for its weakest performance since October 2005.

The Dow Jones industrials fell 223.55, or 1.69 percent, to 13,042.74. The blue chip index is down 1,155.35 points, or 8.14 percent, since its trading high of 14,198.09, reached in August.

The Standard & Poor's 500 index was off 21.07, or 1.43 percent, at 1,453.70, while the Nasdaq composite index tumbled 68.06, or 2.52 percent, to 2,627.94.

Friday's performance capped another dismal week for stocks. The Dow racheted up and down, including a 360-point plunge Wednesday that was the blue chips' third drop of more than 350 points in a month; the volatility was proof of how anxious and how quick to sell investors are in what has become a steady flow of bad news about credit losses.

For the week, the Dow dropped 4.06 percent and the S&P 500 tumbled 3.71 percent. The technology-focused Nasdaq, which often trades with more volatility, plunged 6.49 percent.

Light, sweet crude for December delivery on the New York Mercantile Exchange rose 86 cents to settle at $96.32 a barrel on the New York Mercantile Exchange.

Bond prices rose, with the yield on the benchmark 10-year Treasury note falling to 4.22 percent from 4.27 percent late Thursday. Yields and prices move in opposite directions. The bond market will be closed Monday for the Veterans Day holiday observance; the stock market will be open. Meanwhile, both gold and the dollar were lower.

Financial stocks were among the hardest hit Friday, though the banks that warned about the fourth quarter finished mostly flat amid hopes that their announcements might be signaling the end of the current period's trouble. BofA rose 49 cents to $43.99, JPMorgan fell 32 cents to $42.29, and Wachovia was up 31 cents at $40.61.

Investors were uneasy about tech stocks after Qualcomm Inc., the nation's second-biggest maker of chips that run mobile phones, predicted that heightened competition and legal troubles will cause 2008 results to fall 4 percent to 7 percent below Wall Street projections.

Qualcomm fell $1.66, or 4.2 percent, to $38.10.

Cisco Systems Inc. was another drag on the technology sector. It fell $1.05, or 3.5 percent, to $28.58 after the company warned of a dramatic decline in domestic business orders.

Merck & Co. said it will pay $4.85 billion to settle thousands of lawsuits over its painkiller Vioxx -- a move considered to be the biggest drug settlement ever. The offer was finalized early Friday as Merck and the plaintiffs met with three of the four judges overseeing the claims. Merck rose $1.13, or 2.1 percent, to $55.90.

Walt Disney & Co. shares fell 89 cents, or 2.7 percent, to $32.74 after the entertainment company said late Thursday fiscal fourth-quarter profit rose 12 percent, driven by sports network ESPN and turnout at its U.S. theme parks. However, executives remain concerned about a Hollywood writers strike that began this week.

Declining shares led advancers by a better than 2 to 1 ratio on the New York Stock Exchange, where consolidated volume came to 4.53 billion shares, down from 5.35 billion Thursday.

Overseas, Japan's Nikkei stock average closed down 1.19 percent and Hong Kong's Hang Seng index rose 0.08 percent. Britain's FTSE 100 was down 1.21 percent, Germany's DAX index fell 0.09 percent, and France's CAC-40 shed 1.91 percent.

The Dow Jones industrial average ended the week down 552.36, or 4.06 percent, at 13,042.74. The Standard & Poor's 500 index finished down 55.95, or 3.71 percent, at 1,453.70. The Nasdaq composite index ended down 182.44, or 6.49 percent, at 2,627.94.

The Russell 2000 index finished the week down 25.40, or 3.18 percent, at 772.38.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 14,709.29, down 559.53 points, or 3.66 percent, from 15,268.82 for the week. A year ago, the index was at 13,837.86.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The Dow Jones industrials, up more than 100 points during the day, ended below 13,000 for the first time since August. 

The Dow has fallen 1,210.55, or 8.53 percent, from the all-time trading high of 14,198.10 that it reached Oct. 11. Its record high close was 14,164.53, set Oct. 9. 

The NYSE DOW closed LOWER by -55.19 points	-0.42% on Monday November 12:
Sym Last........ ........Change..........
Dow	12,987.55	-55.19	-0.42%
-- Day's Range:	12981.04 - 13162.32
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,584.13	-43.81	-1.67%
-- Day's Range:	2583.00 - 2643.00
-- 52wk Range:	2,331.57 - 2,861.51

S&P 500	1,439.18	-14.52	-1.00%
-- Day's Range:	1,439.54 - 1,464.94
-- 52wk Range:	1,363.98 - 1,576.09

30-yr Bond	4.5940%	-0.0080

NYSE Volume	3,946,730,500
Nasdaq Volume	2,765,917,500

*Overseas*
Japan's Nikkei stock average closed down 2.48 percent and Hong Kong's Hang Seng index dropped 3.88 percent. 

Britain's FTSE 100 rose 0.52 percent, Germany's DAX index fell 0.07 percent, while France's CAC-40 rose 0.21 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,337.90	+33.00	+0.52%
DAX	7,806.84	-5.56	-0.07%
CAC 40	5,535.56	+11.38	+0.21%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	15,197.09	-386.33	-2.48%
Hang Seng	27,665.73	-1,117.68	-3.88%
Straits Times	3,511.12	-88.55	-2.46%

http://biz.yahoo.com/ap/071112/wall_street.html?.v=53
*Stocks Finish Lower Amid Credit Anxiety*
Monday November 12, 4:22 pm ET
By Tim Paradis, AP Business Writer
*Wall Street Extends Decline As Investors Remain Anxious About Credit Crisis*

NEW YORK (AP) -- Wall Street ratcheted its way through a fractious session Monday before finally closing lower on expectations of further fallout from the ongoing credit crisis. The Dow Jones industrials, up more than 100 points during the day, ended below 13,000 for the first time since August.

Stocks lost ground for the fourth straight session. Analysts said investors had few reasons to sustain a rally, even with many stocks at enticingly low prices after recent routs. The Nasdaq composite index was the biggest decliner among the major indexes as investors sold technology stocks.

News stories kept the subprime contagion in focus. Late Friday, E-Trade Financial Corp. said the value of its mortgage-backed securities has fallen significantly and that it will need to take bigger-than-expected write-downs in the fourth quarter.

Meanwhile, troubled home lender Countrywide Financial Corp. said in a U.S. regulatory filing it could be "severely" limited if its credit rating drops into junk status. And Britain's HSBC Holdings PLC was seen as the next major financial institution to write down losses from exposure to the debt markets, according to a report from The Times of London. The bank will announce a $1 billion charge to its portfolio of high-risk subprime mortgages when it reports third-quarter results from its U.S. division, according to the report.

Investors were uncertain in the wake of heavy selling last week. "I don't think anyone quite knows what to make of today's market," said Paul Nolte, director of investments at Hinsdale Associates. "It is a decent day, given all of the mess from last week. But this is very, very short-term. All we are doing is reversing some of the action from last week."

Blue chips held on to some of their gains, but selling was especially strong in tech stocks as more investors succumbed to the view that the sector is not strong enough to provide the economy with a cushion against the weakness in housing. Apple Inc. fell more than 7 percent after analysts described the weekend European launch of the iPod as disappointing.

According to preliminary calculations, the Dow fell 55.19, or 0.42 percent, to 12,987.55, after falling 4.06 percent last week.

The last time the Dow traded below 13,000 was on Aug. 17, when it index hit a low of 12,847.24, and the last time it closed below 13,000 was on Aug. 16, when it ended at 12,845.78.

The Dow has fallen 1,210.55, or 8.53 percent, from the all-time trading high of 14,198.10 that it reached Oct. 11. Its record high close was 14,164.53, set Oct. 9.

The Standard & Poor's 500 index on Monday fell 14.52, or 1 percent, to 1,439.18, while the Nasdaq composite index dropped 43.81, or 1.67 percent, to 2,584.13.

Falling issues outnumbered advancing shares by about 2 to 1 on the New York Stock Exchange, where volume came to 1.71 billion shares compared with 1.62 billion shares traded Friday.

Trading in many corners of the market was light because of Veterans Day, with the government bond markets closed. This could account for some volatility as institutional traders sought positions ahead of economic reports, including readings on inflation, later in the week.

The dollar rebounded against other major currencies, bolstered by a sharp decline in the price of gold. Gold futures briefly fell under $800 an ounce before recovering some strength to close down $27 at $807.70 an ounce.

Light, sweet crude fell $1.70 to $94.62 a barrel on the New York Mercantile Exchange. The drop came on reports that OPEC would discuss increasing its output at an upcoming meeting in a bid to cool record crude prices.

"The problem is just the mood of the market," said Peter Cardillo, chief market economist at Avalon Partners, said of Wall Street. "There is a tense feeling that there will be still more problems with the subprime situation and a fear that things are going to get worse rather than better."

"The feeling is so bad that we did not even get much help from a drop in commodities prices," he said. "Nothing will change until we get a positive catalyst and I don't see one."

Apple fell $11.61, or 7 percent, to $153.76.

E-Trade plunged $5.04, or 58.7 percent, to $3.55, while Countrywide fell 64 cents, or 4.6 percent, to $13.19.

Citigroup Inc. regained some strength after last week's sell-off and was the biggest gainer among the 30 stocks that make up the Dow industrials. Citi rose $1.49, or 4.5 percent, to $34.58.

There was deal news that perhaps helped contain the market's slide: International Business Machines Corp. said it will buy software developer Cognos Inc. for $5 billion, sending Cognos stock up $4.17, or 7.9 percent, to $57.15. IBM rose $1.20 to $101.45.

And Constellation Brands Inc. said it will pay $885 million for the U.S. wine business of Fortune Brands Inc. Constellation Brands dropped 39 cents to $22.60 as Fortune Brands shares rose 49 cents to $79.66.

Tyson Foods Inc. fell 42 cents, or 2.9 percent, to $14.33 after the world's largest meat company forecast earnings for this year that were below what analysts were expecting.

The Russell 2000 index of smaller companies rose 5.29, or 0.68 percent, to 767.09.

Overseas, Japan's Nikkei stock average closed down 2.48 percent and Hong Kong's Hang Seng index dropped 3.88 percent. Britain's FTSE 100 rose 0.52 percent, Germany's DAX index fell 0.07 percent, while France's CAC-40 rose 0.21 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## jtb

Morning all,

Nice to see a bit of green +241

http://money.cnn.com/2007/11/13/markets/markets_0200/index.htm


----------



## bigdog

Even better now and currently Dow	13,310.59	+323.04	+2.49% with 5 minutes to go

We could very well have a great day on ASX!!


----------



## bigdog

*NYSE Dow Jones finished today at:*
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

Stocks Bound; Dow Ends Up Almost 320

The NYSE DOW closed HIGHER +319.54	+2.46% on Tuesday November 13:

Sym Last........ ........Change..........
Dow	13,307.09	+319.54	+2.46%
-- Day's Range:	12975.11 - 13318.96
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,673.65	+89.52	+3.46%
-- Day's Range:	2613.37 - 2673.65
-- 52wk Range:	2,331.57 - 2,861.51

S&P 500	1,481.05	+41.87	+2.91%
-- Day's Range:	1441.35 - 1481.37
-- 52wk Range:	1,363.98 - 1,576.09

30-yr Bond	4.6050%	+0.0110

NYSE Volume	4,048,165,000
Nasdaq Volume	2,662,604,500

*Overseas*
Japan's Nikkei stock average fell 0.46 percent and Hong Kong's Hang Seng index rose 0.50 percent. 

In Europe, Britain's FTSE 100 rose 0.39 percent, Germany's DAX index fell 0.38 percent, while France's CAC-40 added 0.06 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,362.40	+24.50	+0.39%
DAX	7,777.56	-29.28	-0.38%
CAC 40	5,538.91	+3.35	+0.06%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	15,126.63	-70.46	-0.46%
Hang Seng	27,803.35	+137.62	+0.50%
Straits Times	3,475.47	-35.65	-1.02%

http://biz.yahoo.com/ap/071113/wall_street.html?.v=44
*Stocks Get Lift From Goldman, Wal-Mart*
Tuesday November 13, 4:37 pm ET
By Lauren Villagran, AP Business Writer
*Stocks Lifted by Goldman Sachs' Good News on Subprime and Wal-Mart's Strong Earnings Report*

NEW YORK (AP) -- Wall Street shot higher Tuesday, lifting the Dow Jones industrials nearly 320 points after reassuring news from Goldman Sachs Group Inc. and Wal-Mart Stores Inc. quelled some of the market's worst fears about the credit crisis and the economy. A plunge in the price of oil gave investors further incentive to buy.

Goldman Sachs heartened investors with word that it didn't expect a significant hit from the subprime mortgage turmoil. Goldman Chief Executive Lloyd Blankfein, speaking at a conference held by Merrill Lynch & Co., said the bank has a short position in the subprime mortgage market and won't be taking any significant charges to write off losses.

Goldman's news helped offset an announcement from Bank of America Inc., which joined other big financial companies including Citigroup Inc. and Merrill Lynch that have recently revealed heavy writedowns from soured mortgages; BofA said it will record $3 billion in pretax writedowns in the fourth quarter.

Goldman's assessment was the first substantial good news from the financial services industry about a company's credit exposure, and was comforting to investors whose fears about widening credit problems have sent Wall Street plunging over the past month.

"People just want to know what's out there," said Todd Leone, managing director of equity trading at Cowen & Co. "They want to feel like they're being told the truth."

Meanwhile, Wal-Mart, the world's largest retailer, reported third-quarter profit surpassed projections and hinted that consumer spending might be stronger than anticipated this holiday shopping season. The results also showed that heavy discounting during the period did not hurt margins, which the company said bodes well for the fourth quarter.

A sharp pullback in energy prices also encouraged Wall Street. Oil prices plummeted after the International Energy Agency reduced its expectations for demand in the fourth quarter and next year and said crude supplies are growing. Light, sweet crude for December delivery fell $3.45 to settle at $91.17 a barrel on the New York Mercantile Exchange.

According to preliminary calculations, the Dow rose 319.54, or 2.46 percent, to 13,307.09.

A day earlier, a turbulent session pushed the Dow below 13,000 for the first time since August. Tuesday's advance snapped a four-day losing streak for the blue chip index.

Broader indexes also rose sharply Tuesday. The Standard & Poor's 500 index jumped 41.86, or 2.91 percent, to 1,481.04, and the Nasdaq composite index gained 89.52, or 3.46 percent, to 2,673.65.

"Over the last week there has been so much bloodshed on the Street, it's finally enticed people back to the market," said Ryan Larson, senior equity trader at Voyageur Asset Management. "At some point, it's hard to turn your head when all these issues become so cheap."

Bonds fell as investors moved back into stocks. The yield on the benchmark 10-year Treasury note rose to 4.26 percent from 4.22 percent late Friday. The market was closed Monday in observance of Veterans Day.

Gold prices declined, settling at $799 an ounce on the Nymex. It was the first close below $800 since Nov. 2. The dollar was mixed.

Investors were expected to position their portfolios ahead of key economic data out during the week. Two key barometers of inflation and the economy will be released, with the Labor Department's Producer Price Index on Wednesday and the Consumer Price Index on Thursday.

News in the troubled housing market was mixed Tuesday, but didn't spoil Wall Street's rally. The National Association of Realtors said its index for pending home sales edged higher in September at a seasonally adjusted annual rate of 0.2 percent to 85.7 from 85.5 in August. It was the first increase since June. However, the trade group said it expects the market slump to worsen into 2008.

Goldman shares gained $18.33, or 8.5 percent, to $233.04, while Bank of America added $2.29, or 5.2 percent, to $46.27.

Wal-Mart spiked $2.65, or 6.1 percent, to $45.97 after the retailer said quarterly profit rose 8 percent as it heads into the holiday shopping season. Chief Executive Officer Lee Scott said it has been a tough year for consumers, but that the company's new focus on pricing is paying off.

TJX Cos. -- the operator of T.J. Maxx and Marshalls -- reported third-quarter profit rose 13 percent. Results, which missed Wall Street expectations, were hurt by unseasonably warm early fall weather. Shares added $1.10, or 3.8 percent, $30.42.

Home Depot Inc., the world's largest home improvement chain, reported third-quarter results fell 26.8 percent because of the continuing slump in the housing sector. Shares rose 66 cents, up 2.3 percent, to $29.12.

Troubled lender Countrywide Financial Corp. said total mortgage origination volume fell 48 percent in October due to continued weakening of the mortgage market and the company's decision to cut down on its subprime lending operations. However, shares rose 53 cents, or 4 percent, to $13.72 after Countrywide said it significantly reduced some of its riskier loans that triggered recent financial problems.

The Russell 2000 index of smaller companies rose 22.06, or 2.88 percent, to 789.15.

Advancing issues led decliners by roughly 5 to 1 on the New York Stock Exchange, where 1.66 billion shares were traded.

Overseas, Japan's Nikkei stock average fell 0.46 percent and Hong Kong's Hang Seng index rose 0.50 percent. In Europe, Britain's FTSE 100 rose 0.39 percent, Germany's DAX index fell 0.38 percent, while France's CAC-40 added 0.06 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER -83.16 points	-0.62% on Wednesday November 14:

Stocks bobbed in and out of positive territory for much of the day before taking a sharp turn lower in the last half-hour.

Sym Last........ ........Change..........
Dow	13,223.93	-83.16	-0.62%
-- Day's Range:	13198.08 - 13367.17
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,644.32	-29.33	-1.10%
-- Day's Range:	2636.32 - 2698.35
-- 52wk Range:	2,331.57 - 2,861.51

S&P 500	1,470.58	-10.47	-0.71%
-- Day's Range:	1466.84 - 1492.14
-- 52wk Range:	1,363.98 - 1,576.09

30-yr Bond	4.60%	0.00

NYSE Volume	3,932,556,750
Nasdaq Volume	2,452,797,750

*Overseas*
Japan's Nikkei stock average closed up 2.47 percent and Hong Kong's Hang Seng index rose 4.90 percent. 

In Europe, Britain's FTSE 100 added 1.10 percent, Germany's DAX index rose 0.07 percent, while France's CAC-40 rose 1.35 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,432.10	+69.70	+1.10%
DAX	7,783.11	+5.55	+0.07%
CAC 40	5,613.60	+74.69	+1.35%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	15,499.56	+372.93	+2.47%
Hang Seng	29,166.01	+1,362.66	+4.90%
Straits Times	3,544.43	+68.96	+1.98%


http://biz.yahoo.com/ap/071114/wall_street.html?.v=41
*Stocks Finish Lower After Wobbly Session*
Wednesday November 14, 4:40 pm ET
By Lauren Villagran, AP Business Writer
*Stocks End Lower Amid More News of Credit Write-Downs; Government Reports Tame Inflation Data*

NEW YORK (AP) -- Wall Street closed an uneasy session lower Wednesday as investors, uncertain if the worst of the credit crisis is over, refrained from extending Tuesday's huge advance.

Stocks bobbed in and out of positive territory for much of the day before taking a sharp turn lower in the last half-hour. Traders may well have been rattled when the chief executive of e-Trade Financial Corp., Mitch Caplan, appeared on CNBC and talked about the online brokerage's problems resulting from losses in its $3 billion portfolio of mortgage debt. While Caplan was upbeat, any reminder of credit-related uncertainty has easily unnerved the market -- especially late in a session.

"All month long, once a direction has been established, it tends to accelerate in the last hour," said Steven Goldman, chief market strategist with Weeden & Co., in Greenwich, Conn. "They hit a grease spot, and that was the case today, as well."

The market was initially relieved after Bear Stearns Cos. Chief Financial Officer Sam Molinaro said the investment bank's leveraged finance business is improving. He said the company expects to take a $1.2 billion writedown during the fourth quarter, which eased worries of even higher losses.

Wednesday's news followed reassuring comments from Goldman Sachs Group Inc.'s chief executive about its own credit exposure that helped propel the Dow Jones industrials up nearly 320 points on Tuesday.

But more evidence of the tenuousness of the credit markets came from Britain's HSBC Holdings PLC, which said it would have to write down a further $3.4 billion from its U.S. business during the third quarter because of exposure to subprime loans, after writing down billions earlier in the year.

Meanwhile, after plunging on Tuesday, oil prices resumed their climb Wednesday, raising concerns that inflation risks could prevent the Federal Reserve from lowering rates to calm the shaky market.

According to preliminary calculations, the Dow fell 83.16, or 0.62 percent, to 13,223.93.

Broader stock indicators also fell. The Standard & Poor's 500 index lost 10.70, or 0.72 percent, to 1,470.35, while the Nasdaq composite index tumbled 29.33, or 1.10 percent, to 2,644.32.

Treasury bonds were flat. The 10-year Treasury note's yield, which moves in the opposite direction of its price, held at 4.26 percent, even with late Tuesday.

Gold prices rose $15.70 to settle at $814.70 an ounce on the New York Mercantile Exchange, while the dollar was mixed against rival currencies.

The Labor Department reported wholesale prices registered a slight gain in October, held down by a drop in energy costs. The moderation in inflation could be temporary, however, with oil prices surging to fresh records of around $98 a barrel in early November.

A barrel of light sweet crude rose $2.92 to settle at $94.09 a barrel on the Nymex, after plunging Tuesday by $3.45.

And while the wholesale price report suggests the Fed could afford to lower rates further when it meets on Dec. 11, the central bank did indicate after its Oct. 30-31 meeting -- where it cut rates by a quarter-point -- that it was satisfied with the current state of the economy and still concerned about rising inflation.

Bear Stearns Cos. rose $2.58, or 2.6 percent, to $103.45, after its CFO's encouraging comments. Other financial stocks -- which have lagged other sectors this year -- rose as well but several pared their advance at the close.

Merrill Lynch & Co. rose $1.03 to $57.98, on reports that NYSE Euronext CEO John Thain is leaving to become CEO of Merrill.

Meanwhile, the Commerce Department reported retail sales managed a small increase in October as consumers struggled to cope with a steep slump in housing, volatile financial markets and soaring energy costs. It was the weakest showing since August and represented a significant slowdown from September.

Declining issues outnumbered advancers by roughly 2 to 1 on the New York Stock Exchange, where volume came to 1.56 billion shares.

The Russell 2000 index of smaller companies fell 6.80, or 0.86 percent, to 782.36.

About a half hour before the market's open, The Associated Press reported Dow futures shot up 413 points, or about 3.16 percent. The index was later corrected to a gain of about 67 points, or 0.50 percent. Data provider Thomson Financial said it was investigating the discrepancy, which was likely the result of a software glitch.

Overseas, Japan's Nikkei stock average closed up 2.47 percent and Hong Kong's Hang Seng index rose 4.90 percent. In Europe, Britain's FTSE 100 added 1.10 percent, Germany's DAX index rose 0.07 percent, while France's CAC-40 rose 1.35 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

*NYSE Dow Jones finished today at:*
Source: http://finance.yahoo.com

* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

Wall Street skidded lower Thursday as investors grappled with concerns about the strength of consumer spending and the overall economy after downbeat comments from J.C. Penney Co. and Wells Fargo & Co. 

The NYSE DOW closed LOWER -120.96 points -0.91% on Thursday November 15:
Sym Last........ ........Change..........
Dow 13,110.05 -120.96 -0.91% -- Day's Range: 13057.37 - 13260.11 
-- 52wk Range: 11,926.80 - 14,280.00 

Nasdaq 2,618.51 -25.81 -0.98% 
-- Day's Range: 2601.39 - 2652.65 
-- 52wk Range: 2,331.57 - 2,861.51 

S&P 500 1,451.15 -19.43 -1.32% -- Day's Range: 1444.17 - 1471.93 
-- 52wk Range: 1,363.98 - 1,576.09 

10 Yr Bond(%) 4.1590% -0.1100 

*Overseas*
Major stock indexes overseas slumped. Britain's FTSE 100 declined 1.13 percent, Germany's DAX index fell 1.49 percent, while France's CAC-40 shed 0.93 percent.

Japan's Nikkei stock average closed down 0.67 percent and Hong Kong's Hang Seng index fell 1.42 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 6,359.60 -72.50 -1.13% 
DAX 7,667.03 -116.08 -1.49% 
CAC 40 5,561.13 -52.47 -0.93% 

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225 15,396.30 -103.26 -0.67% 
Hang Seng 28,751.21 -414.80 -1.42% 
Straits Times 3,477.59 -47.32 -1.34% 

http://biz.yahoo.com/ap/071115/wall_street.html?.v=40
Stocks Fall Amid Concerns About Consumer
Thursday November 15, 4:28 pm ET 
By Tim Paradis, AP Business Writer  
Stocks Slide on Anxiety About Health of Consumer Spending Ahead of Holidays, State of Banks 


NEW YORK (AP) -- Wall Street skidded lower Thursday as investors grappled with concerns about the strength of consumer spending and the overall economy after downbeat comments from J.C. Penney Co. and Wells Fargo & Co. 

Investors soured on retailers and banks, while falling oil prices hurt shares of energy companies.

Wall Street is concerned about rising gas prices. Although oil has come off the highs seen last week, prices remain elevated and could crimp consumer spending as the all-important holiday shopping season approaches.

"The J.C. Penney comments in terms of their guidance have sort of put another nail in retail. The assumption is the consumer has given up," said Charlie Smith, chief investment officer at Fort Pitt Capital Group in Pittsburgh. "Three-dollar to $3.20 a gallon gas and house prices falling at 5 percent a year is really a double-whammy the consumer can't overcome."

Wells Fargo president and chief executive John Stumpf said the housing market is seeing its steepest decline since the Great Depression. The bank has boosted its loss provisions in recent quarters to cover increasing defaults on mortgages and home-equity products. Still, the company has been able to avoid big writedowns that other banks have faced because it has little exposure to some complex financial instruments such as mortgage-backed securities that have recently soured.

Investors also reacted to a Barron's report late Wednesday that a General Electric Asset Management bond fund has suffered losses in mortgage-backed securities. The General Electric Co. unit is offering investors the option to redeem their holdings in the short-term institutional bond fund at 96 cents on the dollar. The losses in the bond fund raised concerns that the squeeze on credit markets could spread and hurt small investors.

Barclays Group said its Barclays Capital investment unit became the latest financial institution to book a writedown on losses stemming from turbulent credit markets. The business took a $2.7 billion charge in the third quarter but the also said Thursday its profit beat last year's strong performance.

According to preliminary calculations, the Dow Jones industrial average fell 120.96, or 0.91 percent, to 13,110.05.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 19.43, or 1.32 percent, to 1,451.15. The Nasdaq composite index fell 25.81, or 0.98 percent, to 2,618.51.

Government bond prices rose. The yield on the 10-year Treasury note, which moves opposite its price, slid to 4.16 percent from 4.25 percent late Wednesday.

Oil prices slipped on the New York Mercantile Exchange, where a barrel of light, sweet crude fell 66 cents to settle at $93.43 after domestic crude oil and gasoline inventories rose more than expected last week and OPEC forecast fourth-quarter demand for oil would be less than expected. Gold prices fell as the dollar strengthened.

In economic news, the Labor Department said Thursday its Consumer Price Index rose 0.3 percent in October on high energy and foods costs, in line with September's increase and analysts' forecast.

Robert A. Dye, senior economist at PNC Financial Services Group, is concerned that readings on consumer prices and Wednesday's report on producer prices indicate the economy could start to feel pressure in coming months from higher energy costs as well as a weakening dollar.

"This number tells us that we might be concerned that the Fed might not have the leeway we thought it had a few months ago to ease the fed funds rate," he said, referring to the CPI report and the Fed's efforts to keep inflation in check.

Investors were troubled by corporate news. J.C. Penney reported a 9 percent drop in fiscal third-quarter profit on weak sales and cut its fourth-quarter outlook, indicating that housing market problems are taking a toll on shoppers, as well. J.C. Penney fell $2.40, or 5.1 percent, to $44.33.

Wells Fargo fell $1.28, or 3.9 percent, to $31.97. Among other financial companies, Citigroup Inc. fell $1.46, or 4.1 percent, to $34.58, while Lehman Brothers Inc. fell $2.48, or 3.8 percent, to $62.97.

Barclays Group fell 88 cents, or 2 percent, to $43 .

Exxon Mobil Corp. fell $1.82, or 2.1 percent, to $84.49, while other energy companies also lost ground. ConocoPhillips fell $1.33 to $78.04.

GE fell 70 cents to $38.31.

Ralcorp Holdings Inc., a maker of private-label cereals, said it will buy Kraft Food Inc.'s Post cereals division for $1.65 billion plus $950 mllion in debt.

Kraft fell 61 cents to $32.37, and Ralcorp rose $5.77, or 10.4 percent, to $61.24.

Declining issues outnumbered advancers by more than 3 to 1 on the New York Stock Exchange, where volume came to 1.47 billion shares compared with 1.56 billion shares traded Wednesday.

The Russell 2000 index of smaller companies fell 10.87, or 1.39 percent, to 771.60.

Major stock indexes overseas slumped. Britain's FTSE 100 declined 1.13 percent, Germany's DAX index fell 1.49 percent, while France's CAC-40 shed 0.93 percent.

Japan's Nikkei stock average closed down 0.67 percent and Hong Kong's Hang Seng index fell 1.42 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## BIG BWACULL

All i have to say is   and  and


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER +66.74 points	+0.51% on Friday November 16:

Sym Last........ ........Change..........
Dow	13,176.79	+66.74	+0.51%
-- Day's Range:	13051.60 - 13211.17
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,637.24	+18.73	+0.72%
-- Day's Range:	2596.59 - 2640.03
-- 52wk Range:	2,331.57 - 2,861.51

S&P 500	1,458.74	+7.59	+0.52%
-- Day's Range:	1443.99 - 1462.18
-- 52wk Range:	1,363.98 - 1,576.09

30-yr Bond	4.5230%	-0.0110

NYSE Volume	4,129,040,250
Nasdaq Volume	2,515,753,750

*Overseas*
Britain's FTSE 100 fell 1.08 percent, Germany's DAX index fell 0.71 percent, while France's CAC-40 shed 0.61 percent. 

In Asia, Japan's Nikkei stock average fell 1.57 percent and Hong Kong's Hang Seng index fell 3.95 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,291.20	-68.40	-1.08%
DAX	7,612.26	-54.77	-0.71%
CAC 40	5,523.63	-37.50	-0.67%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	15,154.61	-241.69	-1.57%
Hang Seng	27,614.43	-1,136.78	-3.95%
Straits Times	3,440.96	-36.63	-1.05%


http://biz.yahoo.com/ap/071116/wall_street.html?.v=37
*Wall Street Ends Volatile Session Higher*
Friday November 16, 4:35 pm ET
By Tim Paradis, AP Business Writer
*Stocks Closed Higher As Investors Set Aside Unease Over Consumer Spending, Banking Sector*

NEW YORK (AP) -- Wall Street ended a volatile week with a late-day comeback Friday after investors set aside some concerns about the banking sector and the health of the overall economy.

Stocks began Friday's session having fallen in six of the prior seven sessions as investors have fretted about whether consumers would succumb to higher energy prices, rising mortgage costs and an anemic dollar. Continuing credit turmoil has also stirred concerns about the soundness of corporate balance sheets and profits. A sharp rally Tuesday was largely undone by subsequent pullbacks; on Friday, the market appeared headed to another down day before the major indexes, which had flip-flopped all day, turned higher in the last half-hour.

Financial stocks fell, partly due to a Fortune story that raised the possibility the mortgage lender could be masking the true magnitude of credit-related hits to its profits. Fannie Mae executives, in a conference call with Wall Street analysts, defended a change in the way the largest U.S. buyer and backer of home loans calculates losses on home loans.

Giving investors further reason for worry, FedEx Corp. lowered its earnings expectations for the fiscal second quarter and full year and Starbucks Corp. slashed its earnings forecast for the fourth quarter after it reported traffic at stores open at least 13 months dropped by 1 percent.

But tech stocks fared better. Investors have at times viewed technology companies as likely to fare better during an economic downturn than some groups such as retailers. Cisco Systems Inc., the world's largest network equipment company, said Friday it plans to repurchase an additional $10 billion in stock and an analyst upgraded Hewlett-Packard Co.

Meanwhile, rising oil prices gave a boost to energy names such as Exxon Mobil Corp. and ConocoPhillips.

According to preliminary calculations, the Dow Jones industrial average rose 66.74, or 0.51 percent, to 13,176.79

Broader stock indicators also recovered. The Standard & Poor's 500 index rose 7.59, or 0.52 percent, to 1,458.74. The Nasdaq composite index rose 18.73, or 0.72 percent, to 2,637.24.

Despite the gains in the major indexes, declining issues outnumbered advancers by about 6 to 5 on the New York Stock Exchange, where volume came to 1.77 billion shares compared with 1.47 billion traded Thursday.

The major indexes managed gains for the week, with the Dow rising 1.03 percent and the S&P 500 and the Nasdaq each adding 0.35 percent.

Government bond prices fell as stocks fluctuated. The yield on the 10-year Treasury note, which moves opposite its price, rose to 4.15 percent from 4.14 percent late Thursday. The dollar slipped against other major currencies, while gold prices rose.

Oil prices rose Friday amid expectations that global crude supplies will remain tight despite a U.S. oil inventory report that showed a surprising build in domestic crude stockpiles. Light, sweet crude rose $1.67 to settle at $95.10 on the New York Mercantile Exchange.

The economic news arriving Friday seemed to offer investors little incentive to bid stocks higher. Industrial production in October showed the sharpest decrease in nine months. The Federal Reserve said output at the nation's factories, mines and utilities fell by 0.5 percent last month -- a much weaker showing than had been expected. The reading revealed a big drop in utility output and continued troubles in sectors tied to automobiles and housing.

Friday's uneven trading followed a 120-point drop in the Dow on Thursday and didn't signaly easing of long-simmering concerns about woes in the credit markets. In particular, investors are wondering whether financial companies are facing a further souring of loans and will be forced to write down more than the $45 billion seen in the third quarter and the $30 billion companies have outlined for the fourth quarter.

Fannie Mae fell $2.35, or 5.5 percent, to $40.69 after falling 10 percent Thursday. Chief Financial Officer Stephen Swad said some of the $670 million in provisions for credit losses on soured home loans that Fannie Mae wrote off in the third quarter likely would be recovered.

Reports late Thursday said Residential Capital, the troubled mortgage lending arm of GMAC, was close to breaching bank loan covenants. The unit is operated by private equity fund Cerberus Capital Management and General Motors Corp., which may not step in with an infusion of additional capital, according to the Financial Times and The Wall Street Journal.

Other corporate news weighed on the markets. FedEx fell $4.57, or 4.5 percent, to $96.80 after lowering its forecast amid rising fuel costs and a troubled U.S. freight market. And Starbucks fell 93 cents, or 3.9 percent, to $23.17 after the coffee retailer reported its first-ever decline in traffic at stores open more than a year. The company also said it plans to slow the pace of U.S. store openings.

The strength in technology and energy stocks lent some support to stocks. Cisco rose 64 cents, or 2.2 percent, to $29.94 after saying it would expand its stock buyback program to $62 billion. H-P gained after Morgan Stanley raised its rating on the largest maker of printers to "overweight" from "equal weight." The stock rose $1.85, or 3.8 percent, to $50.75.

And Exxon rose 61 cents to $85.10, while ConocoPhillips advanced 89 cents to $78.93.

As Friday's flip-flops would suggest, uncertainty remains a big force on Wall Street. Four of the past five sessions have seen selloffs in the final hour of trading.

Detrick contends investors worried about further writeoffs from financial companies are reluctant to make big bets.

"People just don't want to hold overnight," he said. "You could come in next Monday morning and see another big write-off from a bank."

The Russell 2000 index of smaller companies fell 2.10, or 0.27 percent, to 769.50.

Overseas, Britain's FTSE 100 fell 1.08 percent, Germany's DAX index fell 0.71 percent, while France's CAC-40 shed 0.61 percent. In Asia, Japan's Nikkei stock average fell 1.57 percent and Hong Kong's Hang Seng index fell 3.95 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by -218.35 points	-1.66% on Monday November 19:

Sym Last........ ........Change..........
Dow	12,958.44	-218.35	-1.66%
-- Day's Range:	12,937.88 - 13,176.30
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,593.38	-43.86	-1.66%
-- Day's Range:	2,583.26 - 2,628.15
-- 52wk Range:	2,331.57 - 2,861.51

S&P 500	1,433.27	-25.47	-1.75%
-- Day's Range:	1,430.42 - 1,456.70
-- 52wk Range:	1,363.98 - 1,576.09

30-yr Bond	4.4780%	-0.0450

NYSE Volume	4,096,860,000
Nasdaq Volume	2,189,924,500


*Overseas*
Stock markets overseas also slumped. 

In European trading, Britain's FTSE 100 closed down 2.71 percent, Germany's DAX index fell 1.32 percent, and France's CAC-40 slid 1.65 percent. 

In Asian trading, Japan's Nikkei stock average fell 0.74 percent, while Hong Kong's Hang Seng index decreased 0.56 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,120.80	-170.40	-2.71%
DAX	7,511.97	-100.29	-1.32%
CAC 40	5,432.57	-91.06	-1.65%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	15,042.56	-112.05	-0.74%
Hang Seng	27,460.17	-154.26	-0.56%
Straits Times	3,420.87	-20.09	-0.58%

http://biz.yahoo.com/ap/071119/wall_street.html?.v=45
*Stocks Fall Amid Banking Concerns*
Monday November 19, 5:22 pm ET
By Tim Paradis, AP Business Writer
*Stocks Fall on Goldman Downgrade of Banks, Including Citigroup; Homebuilders, Airlines Fall*

NEW YORK (AP) -- Wall Street resumed its slide Monday as investors absorbed a gloomy outlook for the banking sector as well as bleak news about housing. The major stock market indexes each fell more than 1.5 percent, with the Dow Jones industrial average giving up more than 200 points.

Concerns about the banking sector dominated the session. Goldman Sachs Group Inc.'s downgrade of large banks, and its estimate that Citigroup Inc. would have to write down $15 billion due to its exposure to risky debt over the next two quarters, unnerved Wall Street.

Other sectors suffered big hits during the session, including homebuilders and airlines.

The latest concerns about the housing sector arose after a downcast survey from the National Association of Homebuilders and a weak showing by home-improvement retailer Lowe's Cos. The worry on Wall Street is that the housing market is getting so weak it will crimp consumer spending, which accounts for about 70 percent of economic activity and has helped keep the economy afloat. Ahead of the holiday shopping season, any signs that Americans are pulling back could prevent a December rally.

The NAHB's November housing forecast remained unchanged at its lowest-ever level even after the October figure was revised to 19 from 18. Economists polled by Thomson/IFR had expected the index would come in at 18. The survey began in 1985.

"I think that a lot of folks are digesting the news from last week and they're worried about the economy and the ability to grow earnings at the larger companies in America," said Rob Lutts, chief investment officer at Cabot Money Management Inc. in Salem, Mass.

The Dow industrials fell 218.35, or 1.66 percent, to 12,958.44.

Broader stock indicators also declined. The S&P 500 index fell 25.47, or 1.75 percent, to 1,433.27, and the Nasdaq composite index fell 43.86, or 1.66 percent, to 2,593.38.

The Russell 2000 index of smaller companies fell 19.17, or 2.49 percent, to 750.33. The pullback left the Russell firmly in negative territory for the year, with a drop of 4.74 percent. Investors often view smaller companies as more likely to be hard hit in a slowing economy because they might not as easily get by on thin profit margins as would some big companies with big overseas operations.

With Monday's decline, stocks have seen losses in seven of the past eight sessions. Last week, stocks ended higher after a string of volatile sessions. Many traders are wondering whether the major indexes will test the lows for the year that came in August.

Government bond prices rose sharply Monday as investors sought safety. The yield on the 10-year Treasury note, which moves opposite its price, fell to 4.08 percent from 4.15 percent late Friday. The 10-year note hasn't gone below the 4.1 percent level since September 2005.

The dollar fell against other major currencies and gold prices slipped.

Crude oil futures for January delivery rose 80 cents to settle at $94.64 per barrel on the New York Mercantile Exchange.

John Merrill, chief investment officer at Tanglewood Capital Management in Houston, contends investors are still grappling with the scope of the writedowns related to the housing market and the related ramifications, such a more cautious consumer.

"Certainly in the financial sector the concerns seem to be never-ending. The potential for write-offs seems to keep growing," he said. "This is having to settle in and the process of settling in means you become more aware of how more meaningful and how restricting these writedowns are."

One big area of concern for investors was again Citigroup, which said earlier this month it would likely write down $8 billion to $11 billion in the fourth quarter. The bank, one of the 30 stocks that makes up the Dow industrials, fell $2, or 5.9 percent, to $32 after the Goldman downgrade to a "sell" rating.

Among other financial-services companies, Merrill Lynch & Co. fell $2.24, or 4 percent, to $53.87, while Morgan Stanley fell $1.77, or 3.4 percent, to $51.13.

Lowe's Cos. posted a 10 percent decline in third-quarter profit Monday, slightly better than expected. But the home improvement retailer lowered its forecast in anticipation of further deterioration in housing. Lowe's fell $1.89, or 7.6 percent, to $23.12.

Celgene Corp.'s announcement late Sunday that it agreed to buy Pharmion Corp. for $72 a share in a cash-and-stock deal worth $2.9 billion failed to lighten the overall mood on Wall Street. Celgene fell 90 cents to $64, while Pharmion jumped $15.84, or 32 percent, to $65.12.

Meanwhile, other sectors that could be bruised by an economic slowdown fell Monday. Delta Air Lines Inc. fell 96 cents, or 4.8 percent, to $19.01, while Continental Airlines Inc. fell $1.76, or 6 percent, to $27.82.

The decline in the airlines helped push the Dow Jones Transportation index down 105.87, or 2.32 percent, to a fresh 52-week low, 4,457.97.

Among homebuilders, Lennar Corp. fell $1.67, or 8.7 percent, to $17.57 and hit a new 52-week low of $17.54. Its previous low was $18.90. Pulte Homes Inc. fell $1.04, or 8.1 percent, to $11.80. It likewise sank to a 52-week low of $11.76; the previous low was $12.15.

Declining issues outnumbered advancers by 5 to 1 on the New York Stock Exchange, where volume came to 1.68 billion shares, compared with 1.77 billion traded Friday.

Stock markets overseas also slumped. In European trading, Britain's FTSE 100 closed down 2.71 percent, Germany's DAX index fell 1.32 percent, and France's CAC-40 slid 1.65 percent. In Asian trading, Japan's Nikkei stock average fell 0.74 percent, while Hong Kong's Hang Seng index decreased 0.56 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Tonight's DOW could be in for a better day!!!!

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	15,211.52	+168.96	+1.12%
Hang Seng	27,771.21	+311.04	+1.13%
Straits Times	3,438.27	+26.55	+0.78%

*Europe currently HIGHER at 10:23 AM; early times!!!! *
Symbol... Last...... .....Change.......
FTSE 100	6,168.90	+48.10	+0.79%
DAX	7,572.66	+60.69	+0.81%
CAC 40	5,467.53	+34.96	+0.64%

http://biz.yahoo.com/ap/071120/world_markets.html
Major Asian Markets Recover After Swoon
Tuesday November 20, 5:30 am ET
By Yuri Kageyama, AP Business Writer
Major Asian Markets Recover From Early Swoon After Wall Street Plunge; Tokyo Leads Turnaround

TOKYO (AP) -- Major Asian markets recovered from an early swoon Tuesday after a sharp drop on Wall Street overnight with investors in Japan leading an afternoon turnaround by snapping up stocks that had been battered in recent weeks.

But smaller bourses in Australia, Malaysia and the Philippines sank amid lingering concerns about U.S. housing and banking woes and their broader impact on the U.S. economy, a key export market.

In a roller-coaster day, markets across the region tumbled in early trading as investors reacted to a 1.7 percent slide Monday in New York in the Dow Jones industrial average.

But by afternoon trading, even jittery investors in Tokyo were beginning to feel that recent declines were getting overdone, says Tomochika Kitaoka, equity strategist at Mizuho Securities Co. in Tokyo.

"It's conceivable people will start to rethink their recent selling as an overreaction to the U.S. problem," Kitaoka said, although he cautioned that more news about U.S. economic woes could trigger another sell-off.

By day's end the Nikkei 225 index, which fell as much as 1.9 percent earlier to its lowest since July 2006, rose 1.1 percent to finish at 15,211.52 points. Since the start of November, the index had dropped 10.8 percent before Tuesday's recovery. Gainers included machinery maker Komatsu Ltd. and mega-bank Mizuho Financial Group Inc.

Tokyo's recovery heartened investors in Hong Kong, where the Hang Seng index, down as much as 3.8 percent, climbed 1.1 percent to 27,771.21.

In mainland China, the benchmark Shanghai Composite Index gained 0.5 percent to 5,293.70, while Singapore's benchmark index bounced back 0.8 percent. South Korea's benchmark index pared early losses, ending down 1.1 percent after having fallen as much as 3.9 percent.

Asian stock markets have been among the world's best-performing this year, but trading has been extremely volatile in recent months amid persistent worries over rising defaults in risky, or subprime, mortgages in the United States, and their wider fallout.

The morning drop followed a sell-off on Monday in New York, where investors were unnerved by Goldman Sachs Group Inc.'s downgrade of large banks, and its estimate that Citigroup Inc. would have to write down US$15 billion due to its exposure to risky debt.

In Manila, investors dumped shares, sending the the Philippine Stock Exchange Index down 2.9 percent. Australia's benchmark S&P/ASX 200 index closed down 1.7 percent.

"We are continuing to feel the effect of the subprime crisis that started in the middle of this year," said Jose Vistan, AB Capital Securities research director in Manila. "Most likely it will persist. It's hard to reverse because of the negative sentiment that's prevailing."

But other analysts said recent declines offered a possible buying opportunity.

"It's not safe to say we've already seen the bottom today as uncertainties over the U.S. market are still lingering, but a nice rebound is likely to become visible at the current level," said Oh Hyun-Suk at Samsung Securities in Seoul.

Associated Press writer Teresa Cerojano in Manila contributed to this report.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +51.70 points	+0.40% on Tuesday November 20:

Sym Last........ ........Change..........
Dow	13,010.14	+51.70	+0.40%
-- Day's Range:	12,839.68 - 13,107.37
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,596.81	+3.43	+0.13%
-- Day's Range:	2,554.32 - 2,633.82
-- 52wk Range:	2,331.57 - 2,861.51

S&P 500	1,439.70	+6.43	+0.45%
-- Day's Range:	1,419.28 - 1,452.64
-- 52wk Range:	1,363.98 - 1,576.09

30-yr Bond	4.4840%	+0.0060

NYSE Volume	4,802,583,000
Nasdaq Volume	2,641,573,750


*Overseas*
In Asian trading, Japan's Nikkei stock average rose 1.12 percent, while Hong Kong's Hang Seng index rose 1.13 percent. 

In European trading, Britain's FTSE 100 increased 1.73 percent, Germany's DAX index lifted 1.58 percent, and France's CAC-40 gained 1.36 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,226.50	+105.70	+1.73%
DAX	7,630.31	+118.34	+1.58%
CAC 40	5,506.68	+74.11	+1.36%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225 15,211.52 +168.96 +1.12%
Hang Seng 27,771.21 +311.04 +1.13%
Straits Times 3,438.27 +26.55 +0.78%

http://biz.yahoo.com/ap/071120/wall_street.html?.v=66
*Stocks End Higher After Seesaw Day*
Tuesday November 20, 4:44 pm ET
By Madlen Read, AP Business Writer
*Wall Street Ends Volatile Session Mostly Higher After Fed Minutes, Amid Countrywide Jitters*

NEW YORK (AP) -- Wall Street finished an extremely volatile session mostly higher Tuesday after investors, still jittery about mortgage-related problems at the nation's major lenders, decided to interpret comments from the Federal Reserve as suggestive of another interest rate cut.

In minutes from their Oct. 30-31 meeting, Fed policy makers said their decision to lower rates for a second straight meeting "was a close call." But in a separate economic forecast, they pointed to slowing growth next year, an uptick in unemployment and moderating inflation -- which would seem to portend a possible rate decrease.

Though the markets are pricing in a high chance of a rate reduction Dec. 11, when the Fed meets next, investors were on edge until the closing bell Tuesday, and the major indexes changed direction several times.

Freddie Mac posted a $2 billion quarterly loss Tuesday, escalating jitters about the government-sponsored mortgage lender and its larger counterpart, Fannie Mae. Also, an analyst downgraded Countrywide Financial Corp., pointing to continuing credit problems that had investors uneasy even before the Fed released its minutes.

"The headlines that were really roiling the market were Countrywide, Fannie Mae, Freddie Mac, and the FOMC minutes, which were discouraging for investors," said Joe Sunderman, vice president of financial market analytics at Schaeffer's Investment Research.

Countrywide's downgrade spurred market speculation that it might file for bankruptcy, which the company later denied. After plunging by more than 20 percent, Countrywide shares ended down 29 cents, or 2.7 percent, at $10.28.

"When there's lot of uncertainty in the market, the rumor mill runs full speed ahead," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners Inc. Some market participants had also speculated in pre-market trading that the Fed might hold an emergency meeting to cut rates.

According to preliminary calculations, the Dow Jones industrial average rose 51.70, or 0.04 percent, to 13,010.14, after making 100-point swings in either direction throughout the day. The eventual gain followed Monday's swoon of more than 200 points.

Broader stock indicators also ended higher. The Standard & Poor's 500 index rose 6.43, or 0.45 percent, to 1,439.70, and the Nasdaq composite index rose 3.43, or 0.13 percent, to 2,596.81.

Freddie Mac fell $10.76, or 28.7 percent, to $26.74, and Fannie Mae fell $9.33, or 24.8 percent, to $28.25.

Government bonds rose on the Fed's prediction of a slowing economy in 2008. The yield on the 10-year Treasury note, which moves inversely to its price, fell to 4.05 percent from 4.08 percent late Monday.

Meanwhile, oil prices surpassed $98 a barrel on Tuesday, raising concerns that inflation may not moderate as the Fed anticipates.

Investors want lower rates because they loosen up the credit markets and encourage corporate growth -- which has slowed recently because of the bad bets financial institutions have made on mortgages and mortgage-backed assets.

The major stock indexes remain higher on the year, and Wall Street is desperately hoping they don't fall further. However, an end-of-the-year rally is looking remote, given that stronger economic growth and a rate cut tend to be mutually exclusive.

"The stock market obviously likes when the Fed lowers rates, but maybe they're coming to grips with the fact that there's a reason why," said Joe Balestrino, a portfolio manager at Federated Investors Inc.

The dollar fell against most other major currencies, but rose against the yen. Gold jumped.

Commerce Department data on the housing market gave investors a fuzzy picture of the housing market. The report said that while housing starts rose in October, building permits fell.

Declining issues narrowly outnumbered advancers by on the New York Stock Exchange, where volume came to 1.87 billion shares.

The Russell 2000 index of smaller companies fell 1.00, or 0.13 percent, to 749.33. Stock markets overseas advanced.

In Asian trading, Japan's Nikkei stock average rose 1.12 percent, while Hong Kong's Hang Seng index rose 1.13 percent. In European trading, Britain's FTSE 100 increased 1.73 percent, Germany's DAX index lifted 1.58 percent, and France's CAC-40 gained 1.36 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by -211.10 points	-1.62% on Wednesday November 21:

Sym Last........ ........Change..........
Dow	12,799.04	-211.10	-1.62%
-- Day's Range:	12786.52 - 13007.71
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,562.15	-34.66	-1.33%
-- Day's Range:	2,542.70 - 2,597.17
-- 52wk Range:	2,331.57 - 2,861.51

S&P 500	1,416.77	-22.93	-1.59%
-- Day's Range:	1,415.64 - 1,436.40
-- 52wk Range:	1,363.98 - 1,576.09

30-yr Bond	4.4670%	-0.0170

NYSE Volume	4,076,233,750
Nasdaq Volume	2,070,904,500

*Overseas*
Japan's Nikkei stock average closed down 2.5 percent and Hong Kong's Hang Seng index fell 4.15 percent. 

Britain's FTSE 100 fell 2.50 percent, Germany's DAX index declined 1.47 percent, and France's CAC-40 lost 2.28 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,070.90	-155.60	-2.50%
DAX	7,518.42	-111.89	-1.47%
CAC 40	5,381.30	-125.38	-2.28%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	14,837.66	-373.86	-2.46%
Hang Seng	26,604.50	-1,166.71	-4.20%
Straits Times	3,350.79	-87.48	-2.54%

http://biz.yahoo.com/ap/071121/wall_street.html?.v=42
*Stocks Fall Again Amid Economic Jitters*
Wednesday November 21, 4:57 pm ET
By Tim Paradis, AP Business Writer
*Stocks Fall Ahead of Thanksgiving Amid Worries About the Mortgage Market, Record-High Oil*

NEW YORK (AP) -- Wall Street resumed its slide Wednesday as unease about the wilting mortgage market and the broader economy triggered selling ahead of the unofficial start of the holiday shopping season. The Standard & Poor's 500 index and the Dow Jones industrial average each fell by more than 1.5 percent, with the Dow giving up more than 210 points.

The decline in the S&P 500 left the index in negative territory for the year. Many investments such as mutual funds either track or are measured against the S&P.

The worries over the economy sent investors rushing to the safety of government securities. The yield on the Treasury's 10-year note for a time fell below 4 percent for the first time since 2005. The shift into bonds came as the Dow briefly sank below the lows seen in the market's August pullback.

The stock market has been thrashing about recently as investors attempt to gauge how companies will fare amid a further slowdown in the U.S. housing market, deterioration of credit and record oil prices that crested above $99 a barrel in electronic trading ahead of Wednesday's session. Stocks, which have fallen in seven of the previous nine sessions, haven't enjoyed the boost seen in recent years during Thanksgiving week, which is capped by the retail bonanza Black Friday.

Economic readings did little to instill confidence among investors. The Mortgage Bankers Association said mortgage application volume fell 3.6 percent last week. Meanwhile, the slump in housing suggested banks will continue to face souring mortgage debt.

Government-sponsored lender Freddie Mac, which reported a $2 billion quarterly loss Tuesday and saw shares plummet nearly 29 percent, declined again Wednesday after an analyst downgrade. Countrywide Financial Corp., the nation's largest mortgage lender, lost further ground.

In other economic news, the Conference Board suggested an economic slowdown could accelerate in the coming months amid rising costs and further weakness in the housing market. Also, the Reuters/University of Michigan consumer sentiment survey showed its lowest reading in two years -- an unwelcome development for retailers entering what are for many the most important months of the year.

The Commerce Department said jobless claims fell by 11,000 last week, a positive sign for U.S. employment, but the report didn't appear to alleviate anxiety about the potential for weaker consumer spending.

"People are buying and selling off the headlines. The market is so emotional," said Neil Hennessy, president and portfolio manager of Hennessy Funds. "You look at oil approaching $100. People are taking their money and going to the sidelines."

The Dow fell 211.10, or 1.62 percent, to 12,799.94. The financial companies that are part of the 30-stock index hit fresh 52-week lows Wednesday and the blue chip index is now down 9.85 percent from its mid-October trading high. A 10 percent decline would meet the technical definition of a correction.

Broader stock indicators also fell. The S&P 500 index dropped 22.93, or 1.59 percent, to 1,416.77.

Meanwhile, the Nasdaq composite index tumbled 34.66, or 1.33 percent, to 2,562.15.

Investors turned to government bonds amid the uncertainty. The yield on the 10-year Treasury note, which moves inversely to its price, fell to 4.01 percent from 4.09 percent late Tuesday.

The dollar was mixed against most other major currencies, while gold advanced.

And with oil prices briefly reaching a high of $99.29 a barrel in overnight electronic trading, the question among investors is no longer if oil will reach $100 a barrel, but when -- and how long it will stay there. Crude futures fell 74 cents to settle at $97.29 per barrel on the New York Mercantile Exchange after an Energy Department report showed supplie at a closely watched oil terminal in the Midwest rose for the first time in weeks.

"The high price of oil has hurt retail, entertainment, restaurants and clothing," said Don Hodges, chairman of Hodges Capital Management in Dallas. He attributes the market's recent retrenchment to concerns about energy, the consumer, housing and banking among other factors and notes that previous sharp drops in the market have occurred when investors have faced a similar confluence of worries.

An examination of the economic news offered little to boost investor sentiment. The Conference Board said its index of leading indicators fell by 0.5 percent in October to a two-year low, after ticking up by 0.1 percent in September and falling by 0.9 percent in August. And the Reuters/University of Michigan survey's final reading for November found consumer sentiment fell to 76.1 from 80.9 in October.

Wednesday's pullback ahead of the Thanksgiving holiday came after stocks finished with a gain Tuesday following a somewhat baffling pair of reports from the Federal Reserve. The Fed's minutes from its last meeting called its last rate reduction a "close call," but the central bank's economic forecast seemed to imply it is willing to keep lowering rates.

Wall Street is fairly confident the Fed will lower rates at its Dec. 11 meeting to keep the tight credit markets liquid, but it is uncertain about the health of the economy -- particularly given big losses at Freddie Mac and its counterpart Fannie Mae, and possible liquidity problems at Countrywide.

Citigroup Inc., which has already announced write-downs of bad debt tied to mortgages, fell 67 cents, or 2.1 percent, to $30.73. The stock hit a fresh 52-week low of $30.50; its earlier low was $30.80. Meanwhile, JPMorgan Chase & Co. fell 95 cents, or 2.3 percent, to $40.68. It hit a low of $40.15, falling below an earlier 52-week low of $40.28.

Amid worries that both the private and government lending industries are struggling with the mortgage market implosion, Freddie shares fell 74 cents, or 2.8 percent, to $26. However, Fannie Mae, which had been down in the session, finished up 98 cents, or 3.5 percent, to $29.23; and Countrywide fell 86 cents, or 8.4 percent, to $9.42.

Declining issues outnumbered advancers by 3 to 1 on the New York Stock Exchange, where volume came to 1.61 billion shares compared with 1.87 billion traded Tuesday.

The Russell 2000 index of smaller companies fell 9.03, or 1.21 percent, to 740.30.

Overseas, Japan's Nikkei stock average closed down 2.5 percent and Hong Kong's Hang Seng index fell 4.15 percent. Britain's FTSE 100 fell 2.50 percent, Germany's DAX index declined 1.47 percent, and France's CAC-40 lost 2.28 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones was closed for the Thanksgiving holiday.

Source: http://finance.yahoo.com

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,155.30	+84.40	+1.39%
DAX	7,562.10	+43.68	+0.58%
CAC 40	5,416.10	+34.80	+0.65%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	14,888.77	+51.11	+0.34%
Hang Seng	26,004.92	-613.27	-2.30%
Straits Times	3,312.88	-34.32	-1.03%

http://biz.yahoo.com/ap/071122/world_markets.html
*World Markets Are Mixed on Thanksgiving*
Thursday November 22, 1:05 pm ET
*World Stock and Commodity Markets Are Mixed With U.S. Markets Closed for Thanksgiving*

LONDON (AP) -- World stock and commodity markets were mixed Thursday with the U.S. closed for the Thanksgiving holiday.

Oil prices remained steady at around $97 a barrel, even though electronic trading in the U.S. continues.

In Europe, the benchmark FTSE 100 index gained 1.4 percent in London; Germany's DAX index climbed 0.6 percent and France's CAC 40 added 0.7 percent.

But in Asia it was a different story.

Most Asian markets fell, with shares in Hong Kong and Shanghai sliding sharply on concerns that Beijing will take steps to cool China's economy.

The region's biggest bourse in Tokyo ended mixed amid persistent worries over the outlook for the U.S. economy, a vital export market for Asia, after Wall Street dropped again overnight.

"There still is a lot of uncertainties in the U.S. economic outlook, as well as on China's macro policies, that could dampen buying interest in the near term," said Peter Lai, a director at DBS Vickers in Hong Kong.

In Hong Kong, the Hang Seng index sank 613.27 points, or 2.3 percent, to 26,004.92 after earlier rising as much as 1.4 percent. Leading decliners were port operator China Merchants Holdings and rival Cosco Pacific.

They were were also discouraged by economic data in the U.S. released Wednesday that showed a drop in consumer sentiment, with the Conference Board's Index of Leading Economic Indicators, falling 0.5 percent in October. The Dow Jones industrial average fell 1.62 percent Wednesday to 12,799.94.

Asian markets have been battered in recent weeks.

Since reaching record highs in October, benchmark indices in both Hong Kong and Shanghai -- two of the world's best-performing markets this year -- have fallen 17 percent. In Japan, the Topix index of all the issues of the Tokyo Stock Exchange's First Section, has declined nearly 21 percent from its 2007 high in February.

Some analysts see a buying opportunity.

"There are not enough factors to justify a further drop in Japan shares," said Yasushi Hoshi, strategist at Daiwa Securities in Tokyo.

On the Chinese mainland, the Shanghai Composite Index plunged 4.4 percent to 4,984.16 on expectations of further economy-cooling measures. Premier Wen Jiabao suggested earlier this week that China needs to do more to prevent a bubble in stock and property prices.

Concerns over PetroChina's valuation following its Nov. 5 trading debut, when it tripled from its initial public offering price, also dampened buying sentiment. PetroChina lost 4.6 percent Thursday.

Still, traders said the Shanghai index was unlikely to fall much further given the ample liquidity available for share dealings.

"What the market lacks isn't cash but confidence," said Simon Wang, an analyst at Xiangcai Securities.

In Tokyo, the benchmark Nikkei stock index rose 0.34 percent to 14,888.77 in a pre-holiday session as the dollar rebounded against the yen from a 2 1/2-year low hit overnight.

But concern over the exposure of insurance companies to the problems in the U.S. mortgage market dragged down the broader Topix index, which dipped 0.09 percent to 1,437.38 points.

Finance Minister Fukushiro Nukaga and Bank of Japan board member Seiji Nakamura both expressed concern about how problems in the U.S. economy might affect Japan. Traders said the market is especially sensitive to the health of consumer spending ahead of Christmas in the U.S.

Japanese trading houses Mitsui & Co. and Sumitomo Corp. were among the gainers.

Katokichi Co. jumped 17 percent to 694 yen after Japan Tobacco Inc. and instant noodle maker Nissin Food Products Co. said Thursday they will jointly buy the frozen food producer in a deal exceeding 100 billion yen (nearly $1 billion) to create Japan's biggest frozen food maker.

In currency dealings, the dollar was trading at 109.00 yen midafternoon, up from 108.68 yen late Wednesday in New York. It dropped as low as 108.25 yen in the New York session. The euro rose to $1.4860 from $1.4848.

Financial markets in Japan will be closed Friday for the Labor Thanksgiving Day holiday. The markets will reopen on Nov. 26.


----------



## bigdog

*NYSE Dow Jones finished today at:*
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +181.84 points +1.42% on Friday November 23:

The Dow Jones industrial average ended the week down 195.91, or 1.49 percent, at 12,980.88. The Standard & Poor's 500 index finished down 18.04, or 1.24 percent, at 1,440.70. The Nasdaq composite index ended down 40.64, or 1.54 percent, at 2,59.60.

Sym Last........ ........Change..........
Dow	12,980.88 +181.84  +1.42%
-- Day's Range:	12796.07 - 12980.88
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,596.60	+34.45	+1.34%
-- Day's Range:	2567.58 - 2601.55
-- 52wk Range:	2,331.57 - 2,861.51

S&P 500	1,440.70	+23.93	+1.69%
-- Day's Range:	1417.62 - 1440.86
-- 52wk Range:	1,363.98 - 1,576.09

30-yr Bond	4.4380%	-0.0290

NYSE Volume	1,568,869,750
Nasdaq Volume	806,082,500

*Overseas*
Britain's FTSE 100 rose 1.74 percent, Germany's DAX index advanced 0.62 percent, and France's CAC-40 gained 1.94 percent. 

Hong Kong's Hang Seng index closed up 2.06 percent. Markets in Japan were closed for a holiday.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,262.10	+106.80	+1.74%
DAX	7,608.96	+46.86	+0.62%
CAC 40	5,521.17	+105.07	+1.94%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	14,888.77	+51.11	+0.34%
Hang Seng	26,541.09	+536.17	+2.06%
Straits Times	3,325.89	+13.01	+0.39%

http://biz.yahoo.com/ap/071123/wall_street.html?.v=21
Stocks End Higher After Volatile Week
Friday November 23, 2:59 pm ET
By Tim Paradis, AP Business Writer
Stocks Gain in Shortened Session After Pullback; Financials, Retailers Rise on Black Friday

NEW YORK (AP) -- Stocks rose as investors capped a capricious week by engaging in a bit of Black Friday bargain hunting while awaiting word of how retailers might fare during what is expected to be a tough holiday shopping season.

Friday's holiday-shortened session ended three hours early and followed fractious trading that on Wednesday saw the Dow Jones industrial average and the Standard & Poor's 500 index give up more than 1.5 percent. The S&P's climb Friday put the index back into positive territory for the year.

The day's gains weren't enough to reverse losses for the week, however, and observers cautioned the session could prove more an aberration than a reversal of recent trends. With many of Wall Street's principal players on vacation, volume was light as is typical on such days.

"While I'd love to celebrate this rally, it is on very thin volume and we have to really wait until next week to get a sense of the true direction of this market," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago.

Still, he said it's a good sign that stocks didn't extend Wednesday's slide.

"It looks like a little rebound rally," Ablin said. "Maybe the day off for Thanksgiving enabled investors to reflect that maybe the bottom isn't falling out of the economy."

The Dow rose 181.84, or 1.42 percent, to 12,980.88, finishing at the highs of the session rather than losing steam in the final minutes as has occurred often in recent weeks.

Broader stock indicators also rose. The Standard & Poor's 500 index advanced 23.93, or 1.69 percent, to 1,440.70, and the Nasdaq composite index rose 34.45, or 1.34 percent, to 2,596.60.

For the week, the Dow lost 1.49 percent, the S&P slid 1.24 percent and the Nasdaq gave up 1.54 percent.

Government bonds showed little movement. The yield on the 10-year Treasury note, which moves inversely to its price, stood at 4.01 percent, flat with late Wednesday.

The dollar was lower against other major currencies, while gold prices rose.

With no major economic data arriving and not much in the way of corporate news, some investors appeared to make some pro forma trades and search for any insights into the health of the economy, particularly with the arrival of Black Friday, the unofficial kickoff of the holiday shopping season.

Oil prices, which flirted with $100 per barrel earlier in the week, gained as heating oil rose amid concerns about tightening supplies. Light, sweet crude for January delivery advanced 89 cents to settle at $98.18 per barrel on the New York Mercantile Exchange.

Friday's advance comes after the S&P 500 on Wednesday slipped into negative territory for the year -- unwelcome news as many investments such as mutual funds mirror the index. By Friday, however, the S&P had rebounded and was up 1.58 percent for the year.

The stock market's recent swoon is owed in part to concerns about the health of the banking sector and how it will emerge from a recent string of write-offs on soured subprime loans, which are those made to borrowers with poor credit. Banks have announced about $75 billion in writedowns for the third and fourth quarters.

Ron Kiddoo, chief investment officer at Cozad Asset Management in Champaign, Ill., said Wall Street needs a dose of good news such as continued strength in the job market to shed its sense of anxiety.

"There just needs to be a realization that while subprime is crucial it's not had an effect on jobs yet and it hasn't had a great effect on the overall economy."

Analysts view a robust labor market as crucial to upholding strong consumer spending.

Financial stocks, which have seen steep selloffs in recent weeks showed gains Friday. Some of the concern came after goverment-sponsored mortgage-makers Freddie Mac and Fannie Mae reported huge quarterly losses in recent weeks. Moody's Investors Service this week lowered its rating on some Freddie Mac debt.

Freddie Mac rose 47 cents to $26.47, while Fannie Mae rose $2.97, or 10.2 percent, to $32.20.

E-Trade Financial Corp. jumped $1.07, or 25.1 percent, to $5.33 amid speculation that the company is in talks to strike a deal for all or a portion of its assets. A CNBC report, which cited undisclosed sources, named TD Ameritrade Holding Corp. and Charles Schwab Corp. as possible suitors.

TD Ameritrade rose 82 cents, or 4.5 percent, to $18.90, while Schwab rose 75 cents, or 3.3 percent, to $23.56.

Among retailers drawing Wall Street's attention on Black Friday, Circuit City Stores Inc. jumped $1.06, or 19.5 percent, to $6.51, while Target Corp. climbed $3.07, or 5.7 percent, to $57.17. Wal-Mart Stores Inc., the world's largest retailer, rose 87 cents to $45.73.

Advancing issues outnumbered decliners by about 5 to 1 on the New York Stock Exchange, where consolidated volume came to 1.48 billion shares.

The Russell 2000 index of smaller companies rose 14.73, or 1.99 percent, to 755.03.

Overseas, Britain's FTSE 100 rose 1.74 percent, Germany's DAX index advanced 0.62 percent, and France's CAC-40 gained 1.94 percent. Hong Kong's Hang Seng index closed up 2.06 percent. Markets in Japan were closed for a holiday.

The Dow Jones industrial average ended the week down 195.91, or 1.49 percent, at 12,980.88. The Standard & Poor's 500 index finished down 18.04, or 1.24 percent, at 1,440.70. The Nasdaq composite index ended down 40.64, or 1.54 percent, at 2,59.60.

The Russell 2000 index finished the week down 17.35, or 2.24 percent, at 755.03.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 14,518.19, down 559.53 points, or 1.29 percent, from 14,709.29 for the week. A year ago, the index was at 14,136.25.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by -237.44 points	-1.83% on Friday November 26:

The Dow's decline from its mid-October closing high is now 10.03 percent, putting the blue chip index past the 10 percent threshold that signifies a correction.

Sym Last........ ........Change..........
Dow	12,743.44	-237.44	-1.83%
-- Day's Range:	12724.82 - 13037.30
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,540.99	-55.61	-2.14%
-- Day's Range:	2539.81 - 2613.69
-- 52wk Range:	2,331.57 - 2,861.51

S&P 500	1,407.22	-33.48	-2.32%
-- Day's Range:	1406.10 - 1446.09
-- 52wk Range:	1,363.98 - 1,576.09

30-yr Bond	4.2800%	-0.1580

NYSE Volume	3,706,334,750
Nasdaq Volume	2,019,342,250

*Overseas*
Britain's FTSE 100 fell 1.30 percent, Germany's DAX index lost 0.55 percent and France's CAC-40 dipped 1.14 percent. 

In Asia, Japan's Nikkei stock average closed up 1.66 percent, Hong Kong's Hang Seng index gained 4.09 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,180.50	-81.60	-1.30%
DAX	7,567.36	-41.60	-0.55%
CAC 40	5,458.39	-62.78	-1.14%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	15,135.21	+246.44	+1.66%
Hang Seng	27,626.62	+1,085.53	+4.09%
Straits Times	3,418.58	+92.69	+2.79%

http://biz.yahoo.com/ap/071126/wall_street.html?.v=37
*Stocks Slide on Fresh Credit Concerns*
Monday November 26, 4:31 pm ET
By Tim Paradis, AP Business Writer
*Stocks Sell Off As Concerns About Credit, Banking; Dow Falls 10 Pct From High*

NEW YORK (AP) -- Wall Street sold off sharply Monday as concerns about a weakening credit market wiped out investors' enthusiasm about strong retails sales over the holiday weekend. The Dow Jones industrial average fell nearly 240 points.

The Dow's decline from its mid-October closing high is now 10.03 percent, putting the blue chip index past the 10 percent threshold that signifies a correction.

The swoon comes as investors were unnerved by another series of announcements that pointed to continuing problems in the credit markets, the result of home loan debt going bad under the weight of a faltering housing market.

Two banks had bad news: Citigroup Inc. warned it is looking to cut costs -- raising the possibility of further job cuts -- and HSBC Holdings PLC said it plans to bail out two funds it manages. To do so, Europe's largest bank plans to move about $45 billion of the fund's assets onto its balance sheet.

Meanwhile, The New York Federal Reserve, acknowledging "heightened pressures" in money markets that are expected to last through the rest of the year, said it plans to conduct a series of repurchase agreements aimed at boosting liquidity in the credit markets. The announcement from the New York Fed, which carries out monetary policy set by the U.S. Federal Reserve, essentially puts in writing many of the steps the Fed often takes at this time of year.

The Fed said it would inject $8 billion into the banking system on Wednesday. The amount of money is somewhat larger than in past years at this time.

A better-than-expected report on retail sales wasn't able to hold the market's early gains. Retail sales on Friday and Saturday combined rose 7.2 percent to $16.4 billion from the same two-day period a year ago, according to ShopperTrak, which tracks total sales at more than 50,000 U.S. retail outlets. That's helped ease investor concerns about consumer spending, which accounts for two-thirds of all economic activity.

"The early focus was on the consumer and the weekend sales but of course subprime always seems to pop its head up," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners Inc., referring to loans made to borrowers with poor credit. Some of these loans are now souring, forcing banks to write off huge sums.

According to preliminary calculations, the Dow fell 237.44, or 1.83 percent, to 12,743.44, closing near the lows of the session.

Broader stock indicators also gave up ground. The Standard & Poor's 500 index declined 33.49, or 2.32 percent, to 1,407.21, and the Nasdaq composite index fell 55.61, or 2.14 percent, to 2,540.99.

The declines extended the losses of last week, when the Dow lost 1.49 percent, the S&P slid 1.24 percent and the Nasdaq gave up 1.54 percent.

Government bond prices rose. The yield on the 10-year Treasury note, which moves opposite its price, fell to 3.85 percent from 4 percent late Friday.

With energy prices at the highest in decades, and economic uncertainty looming over the market, investors have been nervous that consumers could cut back during the holidays.

Energy prices fell. A barrel of light, sweet crude fell $1.13 to $97.05 on the New York Mercantile Exchange, after briefly crossing $99 overnight.

Gold prices rose, while the dollar fell against other major currencies, except for the yen.

Economic news was light Monday, with traders looking ahead to the readings on consumer confidence, existing home sales and orders for big-ticket goods due later in the week.

The Fed's decision to inject liquidity into the market isn't unusual for this time of year. Last year, the Fed added a net $21.9 billion into the system from the Monday following Thanksgiving until the first week of January.

Lee Adler, publisher of The Wall Street Examiner, said the overall level of recent liquidity injections is consistent with past years.

"I think it's a confidence game here," Adler said. "The markets are obviously having liquidity problems. The Fed wants people to think that they're doing something about it."

He noted that Monday's announcement differs from past practices in that the bank is making a formal statement of its policy. Ultimately, though, the Fed is still doing what it always does, he said.

Credit market concerns emerged anew overseas as well. HSBC said it would inject $35 billion into the two funds whose assets it is transferring to its balance sheet to prevent a liquidation of their assets.

Also in Europe, embattled mortgage lender Northern Rock PLC said Monday it will hold accelerated takeover negotiations with a consortium led by Virgin Group. Northern Rock ran into problems in September when the short-term credit on which it relied dried up as banks became more wary of lending, and the Bank of England stepped in as a lender of last resort.

Among financial stocks, Citigroup fell $1, or 3.2 percent, to $30.70, while Lehman Brothers Holdings Inc. fell $3.40, or 5.6 percent, to $57.46.

Weighing somewhat on the market's optimism, Citigroup reduced its outlook on several major homebuilders on Monday, saying a glut of inventory and coming resets of subprime mortgages will continue to weigh on the sector at least through the second quarter of 2008.

Homebuilder Lennar Corp. fell $1.09, or 7 percent, to $14.50, while KB Home fell $2.04, or 9.4 percent, to $19.65.

Declining issues outnumbered advancers by more than 3 to 1 on the New York Stock Exchange, where volume came to 1.5 billion shares.

The Russell 2000 index of smaller companies fell 19.96, or 2.64 percent, to 735.07.

Overseas, Britain's FTSE 100 fell 1.30 percent, Germany's DAX index lost 0.55 percent and France's CAC-40 dipped 1.14 percent. In Asia, Japan's Nikkei stock average closed up 1.66 percent, Hong Kong's Hang Seng index gained 4.09 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +215.00 points	+1.69% on Tuesday November 27:

Dow Closes Up 215 After Citi Secures Capital


Sym Last........ ........Change..........
Dow	12,958.44	+215.00	+1.69%
-- Day's Range:	12744.78 - 12991.85
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,580.80	+39.81	+1.57%
-- Day's Range:	2546.37 - 2585.93
-- 52wk Range:	2,331.57 - 2,861.51

S&P 500	1,428.23	+21.01	+1.49%
-- Day's Range:	1407.43 - 1428.24
-- 52wk Range:	1,363.98 - 1,576.09

30-yr Bond	4.36%	+0.07

NYSE Volume	4,275,476,500
Nasdaq Volume	2,220,407,250

*Overseas*
Britain's FTSE 100 fell 0.64 percent; Germany's DAX index lost 0.48 percent and France's CAC-40 declined 0.44 percent. 

In Asia, Japan's Nikkei stock average closed up 0.58 percent. Hong Kong's Hang Seng index fell 1.51 percent.


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,140.70	-39.80	-0.64%
DAX	7,531.35	-36.01	-0.48%
CAC 40	5,434.17	-24.22	-0.44%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	15,222.85	+87.64	+0.58%
Hang Seng	27,210.21	-416.41	-1.51%
Straits Times	3,372.64	-45.94	-1.34%

http://biz.yahoo.com/ap/071127/wall_street.html?.v=52
*Stocks Rally After Citi Secures Capital*
Tuesday November 27, 4:38 pm ET
By Joe Bel Bruno, AP Business Writer
*Wall Street Advances After Abu Dhabi Agrees to $7.5 Billion Investment in Citigroup*

NEW YORK (AP) -- Wall Street rebounded Tuesday after the Abu Dhabi Investment Authority said it will invest $7.5 billion in Citigroup Inc. -- a vote of confidence for the nation's largest bank, which has suffered severe losses amid the ongoing crisis in the mortgage market.

The Dow Jones industrials rose more than 200 points in yet another volatile session as investors were hopeful the financial sector can remain healthy despite the ongoing credit crisis. The banking industry has been battered in recent months as defaults on home loans have risen and rendered some mortgage-backed securities essentially worthless.

Major financial institutions, including Citi and its competitors, have had to book some $80 billion of writedowns on those holdings -- a trend that has left the markets nervous about the full extent of the damage from soured loans. Citi's ability to secure a capital injection raised hope others might be able to do the same.

"The Citi deal is certainly a relief after a series of negative news on Monday with respect to the financials," said Todd Salamone, director of trading at Schaeffer's Investment Research. Funds like Abu Dhabi's "that have plenty of cash may be viewed as a potential rescuer given the balance sheet troubles the banks are having. A weak dollar makes it that much more possible."

Still, the market showed some vulnerability to anyone raising the specter of a sagging economy, and that caused another day of big swings for major indexes. Concerns about further writedowns caused the Dow to fall 240 points Monday, bringing the blue chip index, along with the Standard & Poor's 500 index, down 10 percent from recent highs, a decline that signifies a correction.

Charles Plosser, president of the Federal Reserve Bank of Philadelphia, said he won't be surprised if U.S. economic data over coming months is weak, and warned that recent central bank rate cuts have increased the risk of higher inflation. Meanwhile, Federal Reserve Bank of Chicago head Charles Evans said in a speech that further turmoil in financial markets could cut into business investment and curb consumer spending on big-ticket items.

According to preliminary calculations, the Dow rose 215.00, or 1.69 percent, to 12,958.44 after being up nearly 250 points earlier in the session.

Broader stock indexes also moved higher, with the S&P 500 index up 21.01, or 1.49 percent, at 1,428.23, and the Nasdaq composite index up 39.81, or 1.57 percent, at 2,580.80.

The seesaw trading so far this week is typical of what investors have seen for months. The market has been erratic as investors have struggled with and tried to overcome concerns about the banking sector, the credit markets, consumer spending, energy prices and the overall economy.

A pullback in oil prices aided the market's gains. A barrel of light, sweet crude dropped $3.28 to $94.42 on the New York Mercantile Exchange on expectations that the Organization for Petroleum Exporting Countries will raise production at its Dec. 5 meeting.

Government bond prices fell. The yield on the 10-year Treasury note jumped to 3.94 percent from 3.85 percent late Monday. Gold prices fell as the dollar rebounded.

Abu Dhabi's purchase of a stake in Citigroup will make the city-state one of the bank's largest shareholders. Sheik Ahmed Bin Zayed Al Nahayan called Citi "a premier brand and with tremendous opportunities for growth." Citigroup shares rose 52 cents to $30.32.

Standard & Poor's said it expects Morgan Stanley will take a $4.2 billion charge, up from an earlier $3.7 billion estimate and projected Merrill will write down 25 percent to 30 percent of its $21 billion of such assets in the fourth quarter. The brokerages' shares continued to rally with other financial stocks.

Still, Morgan Stanley shares jumped $1.85, or 3.9 percent, to $49.80, while Merrill shares added $1.84, or 3.6 percent, to $53.07.

Brokerage shares were somewhat under pressure after Standard & Poor's downgraded Morgan Stanley and Merrill Lynch & Co. to "sell," saying that further deterioration in the mortgage securities market has added to pressure on the value of the investment banks' asset-backed securities. But that news did little to faze the market's enthusiasm.

"While these announcements from the financial industry are continuing to unsettle investors, the lower dollar has put the U.S. in the position of being for sale at attractive prices, so Abu Dhabi can come along and buy an interest in Citi," said A.C. Moore, chief investment strategist for Dunvegan Associates in Santa Barbara, Calif. "Anytime you have corporate action, that's one of the strong bull arguments" for stocks.

The market showed little reaction to a report from the Conference Board that its Consumer Confidence Index dropped to its lowest point since October 2005. The index fell to 87.3 for November, down almost 8 points from the revised 95.2 during October -- and below analyst expectations for a reading of 91.5.

The Russell 2000 index of smaller companies rose 8.20, or 1.12 percent, to 743.27.

Advancing issues outpaced decliners by nearly 3 to 2 on the New York Stock Exchange, where volume came to 1.36 billion shares.

Overseas stock markets ended mixed. Britain's FTSE 100 fell 0.64 percent; Germany's DAX index lost 0.48 percent and France's CAC-40 declined 0.44 percent. In Asia, Japan's Nikkei stock average closed up 0.58 percent. Hong Kong's Hang Seng index fell 1.51 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +331.01 points	+2.55% on Wednesday November 28:

Stocks Soar, Dow Gets Biggest 2-Day Gain in 5 Years As Investors' Hopes Grow for a Rate Cut

Sym Last........ ........Change..........
Dow	13,289.45	+331.01	+2.55%
-- Day's Range:	12958.04 - 13325.87
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,662.91	+82.11	+3.18%
-- Day's Range:	2606.86 - 2667.93
-- 52wk Range:	2,331.57 - 2,861.51

S&P 500	1,469.02	+40.79	+2.86%
-- Day's Range:	1432.95 - 1471.62
-- 52wk Range:	1,363.98 - 1,576.09

30-yr Bond	4.41%	+0.05

NYSE Volume	4,527,101,000
Nasdaq Volume	2,518,992,750

*Overseas*
Japan's Nikkei stock average fell 0.45 percent. 

Britain's FTSE 100 rose 2.70 percent, Germany's DAX index rose 2.55 percent, and France's CAC-40 rose 2.34 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,306.20	+165.50	+2.70%
DAX	7,723.66	+192.31	+2.55%
CAC 40	5,561.21	+127.04	+2.34%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	15,153.78	-69.07	-0.45%
Hang Seng	27,371.24	+161.03	+0.59%
Straits Times	3,374.51	+1.87	+0.06%

http://biz.yahoo.com/ap/071128/wall_street.html?.v=51
*Stocks Soar Along With Hope for Rate Cut*
Wednesday November 28, 4:51 pm ET
By Madlen Read, AP Business Writer
*Stocks Soar, Dow Gets Biggest 2-Day Gain in 5 Years As Investors' Hopes Grow for a Rate Cut*

NEW YORK (AP) -- Wall Street barreled higher Wednesday for the second day in a row, giving the Dow Jones industrial average its biggest two-day point gain in five years after a Federal Reserve official hinted that the central bank may lower interest rates again.

Investors' renewed hopes for a rate cut added to their relief that companies that made losing bets on subprime mortgages, such as Citigroup Inc. and Freddie Mac, are coming up with ways to raise cash. The market was clearly optimistic that at least some of the damage from the months-long credit crisis was finally being mitigated.

However, Wall Street has been fickle in recent months, and no one is betting that the mortgage crisis that tripped up the nation's financial industry this year is over, or that the market's huge gains so far this week will stick. Despite its spectacular advance this week, the Dow remains more than 6 percent below its Oct. 9 record close over 14,000, having plunged due to worries that the housing market's slump will lead to further losses for banks, and that the Fed can't keep slashing rates.

"The market's perception of whether the Fed cuts or not really changes by the day," said Michael Sheldon, chief market strategist at Spencer Clarke LLC. "We still have more data to come."

Early Wednesday, Fed Vice Chairman Donald Kohn told the Council on Foreign Relations that recent financial turbulence has reversed some of the improvement seen in markets in previous weeks, and could squeeze credit for households and businesses. He said tight financial conditions may merit "offsetting" policy from the central bank.

The possibility for lower rates seemed more compelling to investors than persistent concerns about a slowdown in economic growth. The Fed has already reduced rates at its last two meetings, and continues to inject billions of dollars into the financial system through repurchase agreements to help calm the shaky markets. The central bank will hold its final rate-setting meeting of the year Dec. 11.

Plunging oil and gold prices also lifted investors' hopes for a rate cut -- if inflation is in control, policy makers have less reason to keep rates high. The Fed's Beige Book of economic activity around the country said with the economy expanding at a reduced pace, most core prices are stable or down slightly.

According to preliminary calculations, the Dow soared 331.01, or 2.55 percent, to 13,289.45, adding to the blue chip index's 215 point gain on Tuesday and giving the market's best known indicator its largest two-day point gain since Oct. 11, 2002.

The broader Standard & Poor's 500 index jumped 40.79, or 2.86 percent, to 1,469.02, while the Nasdaq composite index shot up 82.11, or 3.18 percent, to 2,662.91.

Government bonds slipped as stocks rallied. The yield on the benchmark 10-year Treasury note rose to 4.04 percent from 3.95 percent late Tuesday.

Crude oil posted its own two-day milestone Wednesday, falling $3.80 to settle at $90.62 a barrel on the New York Mercantile Exchange after dropping $3.28 Tuesday. The $7 two-day plunge was the second-largest since the Nymex introduced a futures contract 24 years ago.

The dollar fell against the euro and pound, but rose against the yen.

"Everything we're seeing in the market is revolving about credit and encouragement that the Fed is going to bail us out again," said Alexander Paris, economist and market analyst for Chicago-based Barrington Research. "Investors are kind of ignoring the economic news like housing and durable orders that were all weaker than expected."

Indeed, signs that the Fed will reduce rates to keep cash flowing freely helped overshadow reports that in October, sales of existing homes fell for the eighth consecutive month and orders for big-ticket manufactured goods fell for the third straight month.

Wall Street has had a volatile week so far. Economic and credit market concerns sent the Dow plunging 240 points on Monday, pushing the index to the level of a 10 percent market correction.

On Tuesday, the market rebounded, finding some consolation after the investment arm of Arab city state Abu Dhabi invested $7.5 billion in Citigroup. Then, late Tuesday, government-sponsored mortgage investor Freddie Mac halved its dividend and said it would sell $6 billion of preferred stock, bolstering investors' sentiment that financial companies have some recourse.

On Wednesday, Freddie Mac rose $3.69, or 14.3 percent, to $29.42 on Wednesday, while its larger counterpart, Fannie Mae, rose $2.90, or 9.9 percent, to $32.30.

Citigroup rose $1.97, or 6.5 percent, to $32.29.

But the stock market still has quite a ways to go before breathing easy after this year's crisis in mortgages and the global financial industry's tens of billions of dollars in debt-related losses. Unless the Dow makes further gains this week, November will be the index's worst month since September 2002. And as recently as Monday, the S&P 500 index was in negative territory for the year.

Advancing issues led decliners by about 7 to 1 on the New York Stock Exchange, where volume came to 1.76 billion shares.

The Russell 2000 index of smaller companies rose 26.77, or 3.60 percent, to 770.04.

Overseas, Japan's Nikkei stock average fell 0.45 percent. Britain's FTSE 100 rose 2.70 percent, Germany's DAX index rose 2.55 percent, and France's CAC-40 rose 2.34 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +22.28 points	+0.17% on Thursday November 29:

Sym Last........ ........Change..........
Dow	13,311.73	+22.28	+0.17%
-- Day's Range:	13214.75 - 13346.27
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,668.13	+5.22	+0.20%
-- Day's Range:	2648.49 - 2675.21
-- 52wk Range:	2,331.57 - 2,861.51

S&P 500	1,469.72	+0.70	+0.05%
-- Day's Range:	1458.36 - 1473.81
-- 52wk Range:	1,363.98 - 1,576.09

30-yr Bond	4.3490%	-0.0580

NYSE Volume	3,476,443,000
Nasdaq Volume	2,112,273,000

*Overseas*
Britain's FTSE 100 rose 0.68 percent; Germany's DAX index advanced 0.54 percent and France's CAC-40 rose 0.66 percent. 

In Asia, Japan's Nikkei stock average closed up 2.38 percent. Hong Kong's Hang Seng index rose 4.06 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,349.10	+42.90	+0.68%
DAX	7,765.19	+41.53	+0.54%
CAC 40	5,598.11	+36.90	+0.66%


*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	15,513.74	+359.96	+2.38%
Hang Seng	28,482.54	+1,111.30	+4.06%
Straits Times	3,478.22	+108.50	+3.22%

http://biz.yahoo.com/ap/071129/wall_street.html?.v=31
*Stocks Rise Moderately After Big Run-Up*
Thursday November 29, 4:19 pm ET
By Tim Paradis, AP Business Writer
*Stocks Extend Rally With Moderate Gains; Investors Await Bernanke Speech*

NEW YORK (AP) -- Wall Street extended its rally with modest gains in the major indexes following two days of sharp advances, despite economic readings that painted a mixed picture of the economy.

Thought the indexes rose, declining issues narrowly outpaced advancers on the New York Stock Exchange.

On Tuesday and Wednesday, the market had posted its biggest two-day rally in five years. Hopes have been growing that financial companies may be recovering from the credit crisis and that the Federal Reserve may lower interest rates to calm the markets.

The market's anticipation of a rate cut follows comments from a Fed official Wednesday and comes ahead of a speech by Fed Chairman Ben Bernanke scheduled for Thursday evening.

Oil prices spiked early Thursday then fell back somewhat after a fire at an Enbridge Energy pipeline carrying crude from Canada to the Midwest.

The oil price recovery gave some strength to energy stocks. Meanwhile, financial companies, which had shown gains Wednesday, retreated as did retailers following a weak showing by Sears Holdings Corp.

Aside from a reading on third-quarter growth, economic news didn't offer investors much reason to cheer.

"The data's weak, and says to us that the Fed needs to stay engaged here," said Phil Orlando, chief equity market strategist at Federated Investors.

According to preliminary calculations, the Dow Jones industrial average rose 22.28, or 0.17 percent, to 13,311.73.

Broader stock indicators also rose. The Standard & Poor's 500 index edged up 0.70, or 0.05 percent, to 1,469.72, and the Nasdaq composite index rose 5.22, or 0.20 percent, to 2,668.13.

Declining issues outnumbered advancers by about 9 to 7 on the New York Stock Exchange, where volume came to 1.33 billion shares compared with 1.30 billion traded Wednesday.

Bond prices rose, with the yield on the benchmark 10-year Treasury note falling to 3.94 percent from 4.05 percent late Wednesday. Bond prices and yields move in opposite directions. The dollar rose against other major currencies, while gold prices fell.

Light, sweet crude for January delivery rose 39 cents to settle at $91.01 a barrel in choppy trading on the New York Mercantile Exchange. Energy companies gained. Exxon Mobil Corp. rose 67 cents to $88.59, while ConocoPhillips rose $1.10 to $78.82.

Among financials, Merrill Lynch & Co. fell 38 cents to $57.41, while Bank of America Corp. fell 22 cents to $44.63.

Stocks' fluctuations followed the mixed economic readings.

The Commerce Department reported that economic growth in the third quarter was 4.9 percent, faster than originally thought, although analysts are anticipating a slowdown in the fourth quarter.

U.S. home prices showed a quarterly decline for the first time in 13 years in the third quarter, according to figures from the Office of Federal Housing Enterprise Oversight, which reported a 0.4 percent drop nationwide for the July-September period.

The economic reports came as investors awaited clarity on the Fed's direction on interest rates. Bernanke was slated to speak Thursday evening before the Chamber of Commerce in Charlotte, N.C.

Investors have sent stocks sharply higher in recent days in part because Fed Vice Chairman Donald Kohn suggested another interest rate cut could be in store. The Fed, which has cut rates at each of its last two meetings, is slated to meet again on Dec. 11.

Wall Street also has been calmed by evidence that companies hurt by subprime problems have found financial backers to help stem the damage.

In the latest such action, E-Trade Financial Corp. said on Thursday that Citadel Investment Group will provide $2.5 billion in cash to shore up its balance sheet. It also said Chief Executive Mitchell H. Caplan has resigned.

E-Trade, which holds billions in risky mortgage debt, said it will sell its entire portfolio of asset-backed securities to Citadel for $800 million and book a $2.2 billion charge on the sale. E-Trade fell 46 cents, or 8.7 percent, to $4.82.

In other corporate news, Sears Holdings, parent of its namesake department store chain and Kmart, said profits plunged to a penny per share from $1.27 per share a year ago due to lower sales and clearance markdowns. The stock fell $12.25, or 10.5 percent, to $104.09.

The Russell 2000 index of smaller companies fell 3.98, or 0.52 percent, to 766.06.

Overseas stock markets rose. Britain's FTSE 100 rose 0.68 percent; Germany's DAX index advanced 0.54 percent and France's CAC-40 rose 0.66 percent. In Asia, Japan's Nikkei stock average closed up 2.38 percent. Hong Kong's Hang Seng index rose 4.06 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +59.99 points	+0.45% on Friday November 30:

Sym Last........ ........Change..........
Dow	13,371.72	+59.99	+0.45%
-- Day's Range:	13281.65 - 13466.99
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,660.96	-7.17	-0.27%
-- Day's Range:	2642.25 - 2696.24
-- 52wk Range:	2,331.57 - 2,861.51

S&P 500	1,481.14	+11.42	+0.78%
-- Day's Range:	1469.72 - 1488.74
-- 52wk Range:	1,363.98 - 1,576.09

30-yr Bond	4.4030%	+0.0540

NYSE Volume	4,424,184,000
Nasdaq Volume	2,614,589,750

*Overseas*
Japan's Nikkei stock average rose 1.08 percent, and Hong Kong's Hang Seng index rose 0.57 percent. 

Britain's FTSE 100 added 1.31 percent, Germany's DAX index gained 1.36 percent, and France's CAC-40 rose 1.29 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,432.50	+83.40	+1.31%
DAX	7,870.52	+105.33	+1.36%
CAC 40	5,670.57	+72.46	+1.29%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	15,680.67	+166.93	+1.08%
Hang Seng	28,643.61	+161.07	+0.57%
Straits Times	3,521.27	+43.05	+1.24%

http://biz.yahoo.com/ap/071201/wall_street.html?.v=2
*Stocks Mostly Higher to Cap Week*
Saturday December 1, 12:44 am ET
By Tim Paradis, AP Business Writer
*Stocks Mostly Advance After Big Run-Up; Tech Shares Lag After Dell Report Disappoints*

NEW YORK (AP) -- Wall Street closed out a volatile week and month with a comparatively mild performance Friday, ending mostly higher on encouraging words from Federal Reserve Chairman Ben Bernanke. The major indexes ended the week with gains, but still posted big declines for November.

The Dow Jones industrial average rose more than 150 points in the session after Bernanke gave investors more reason to believe further interest rate cuts could be on the way. But the market gave back a big chunk of the gains, a fizzle that was perhaps to be expected after stocks' huge gains Tuesday and Wednesday. Nervousness about tech stocks, the result of weak results from Dell Inc., pulled the tech-dominated Nasdaq composite index down.

In a speech late Thursday, Bernanke said persistently tight credit conditions, the housing slump and high energy prices will probably create some "headwinds for the consumer in the months ahead," and the central bank will have to be "exceptionally alert and flexible."

The comments echoed those of Fed Vice Chairman Donald Kohn earlier in the week, which helped Wall Street recover some of its recent steep losses. Investors read Bernanke's words as a sign that the Fed is willing to lower interest rates again after cutting them at the past two meetings.

"Although the U.S. is in the eye of the credit storm, we've seen the Fed cut rates and we've heard from Bernanke that they're prepared to do so again if necessary," said Robert Jukes, global equity strategist at Collins Stewart in London.

The Fed meets again Dec. 11, and a rate cut could help reinvigorate the slowing economy, proponents of such a move say. Evidence of a more reticent consumer came Thursday in a Commerce Department report that showed consumer spending rising a modest 0.2 percent in October, the slowest pace in four months.

The risk of rising inflation had been keeping the central bank cautious about loosening its policy. But that risk is looking less threatening now, given that oil prices have dipped below $90 a barrel for the first time since October and that the Commerce Department said core personal consumption expenditures have risen 1.9 percent year-over-year. Core PCE is one of the Fed's preferred inflation measures, and a reading between 1 and 2 percent is considered a comfortable rate.

Still, Friday's performance showed that uncertainty remains and that it doesn't take much -- in this case a weak number from Dell -- to dent a broader rally.

The Dow rose 59.99, or 0.45 percent, to 13,371.72.

Broader stock indicators were mixed. The Standard & Poor's 500 index rose 11.42, or 0.78 percent, to 1,481.14, and the Nasdaq fell 7.17, or 0.27 percent, to 2,660.96.

Advancing issues outnumbered decliners by more than 2 to 1 on the New York Stock Exchange, where consolidated volume came to 4.25 billion shares compared with 3.43 billion traded Thursday.

For the week, the Dow gained 3.01 percent, the S&P 500 added 2.81 percent and the Nasdaq advanced 2.48 percent.

Government bonds fell as investors pulled their money out of the safe securities and put it back into stocks. The yield on the benchmark 10-year Treasury note, which moves opposite the price, rose to 3.95 percent from 3.93 percent late Thursday.

Crude oil prices fell $2.30 to settle at $88.71 per barrel -- their lowest levels in more than a month -- on the New York Mercantile Exchange.

The week's gains came after a sharp drop Monday that pulled the blue chip index to a level more than 10 percent below its record close. In the sessions that followed, the Dow jumped about 630 points, or nearly 5 percent, amid improving prospects for a rate cut and announcements that embattled financial companies like Citigroup Inc., Freddie Mac and E-Trade Financial Corp. were raising cash. All these developments bolstered investors' confidence that credit problems may be on the mend.

Despite the week's increase, stocks ended November lower because of heavy declines amid worries about credit. The Dow fell 4 percent in November, while the S&P 500 lost 4.4 percent and the Nasdaq gave up 6.9 percent.

Gains in the technology sector were limited by a murky outlook from Dell, as well as by cautious comments on Research In Motion Ltd. from Piper Jaffray and a wary Goldman Sachs note on technology in general, according to Peter Boockvar, equity strategist at Miller Tabak.

The broader market is "being helped out by the hopes for a rates cut and the prospect of the government getting involved in fixing adjustable interest rates," he said.

Dell, whose third-quarter earnings just missed expectations, fell $3.60, or 12.8 percent, to $24.54, while Research In Motion fell $8.26, or 6.8 percent, to $113.82.

Financial stocks showed big gains Friday after months of being battered because of their link to mortgage troubles. The moves followed reports that the White House and major banks may be nearing a pact that would temporarily freeze interest rates on some subprime home loans, reducing the likelihood of default or foreclosure.

Countrywide Financial Corp. jumped $1.52, or 16.3 percent, to $10.82; Washington Mutual Inc. rose $1.49, or 8.3 percent, to $19.50; Freddie Mac rose $5.56, or 18.8 percent, to $35.07; and Citigroup Inc. rose $1.01, or 3.1 percent, to $33.30.

The Russell 2000 index of smaller companies rose 1.71, or 0.22 percent, to 767.77.

The dollar gained against other major currencies, while gold prices fell.

Stocks gained overseas. Japan's Nikkei stock average rose 1.08 percent, and Hong Kong's Hang Seng index rose 0.57 percent. Britain's FTSE 100 added 1.31 percent, Germany's DAX index gained 1.36 percent, and France's CAC-40 rose 1.29 percent.

The Dow Jones industrial average ended the week up 390.84, or 3.01 percent, at 13,371.72. The Standard & Poor's 500 index finished up 40.44, or 2.81 percent, at 1,481.14. The Nasdaq composite index ended up 64.36, or 2.48 percent, at 2,660.96.

The Russell 2000 index finished the week up 12.74, or 1.69 percent, at 767.77.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 14,932.65, up 414.56 points, or 2.85 percent, for the week. A year ago, the index was at 14,116.71.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by -57.15 points	-0.43% on Monday December 3:

Sym Last........ ........Change..........
Dow	13,314.57	-57.15	-0.43%
-- Day's Range:	13296.28 - 13407.24
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,637.13	-23.83	-0.90%
-- Day's Range:	2636.96 - 2667.82
-- 52wk Range:	2,331.57 - 2,861.51

S&P 500	1,472.42	-8.72	-0.59%
-- Day's Range:	1470.08 - 1481.16
-- 52wk Range:	1,363.98 - 1,576.09

30-yr Bond	4.3540%	-0.0490

NYSE Volume	3,265,476,750
Nasdaq Volume	1,941,734,750

*Overseas*
Japan's Nikkei stock average rose 0.33 percent, while Hong Kong's Hang Seng index rose 0.05 percent. 

In afternoon trading, Britain's FTSE 100 fell 0.71 percent, Germany's DAX index fell 0.42 percent, and France's CAC-40 fell 0.72 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,386.60	-45.90	-0.71%
DAX	7,837.26	-33.26	-0.42%
CAC 40	5,629.46	-41.11	-0.72%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	15,628.97	-51.70	-0.33%
Hang Seng	28,658.42	+14.81	+0.05%
Straits Times	3,521.56	+0.29	+0.01%

http://biz.yahoo.com/ap/071203/wall_street.html?.v=19
*Wall Street Tumbles on Economic Unease*
Monday December 3, 4:19 pm ET
By Joe Bel Bruno, AP Business Writer
*Stocks Decline After Fed Policymakers Express Concerns About Economy, Mortgage Mess*

NEW YORK (AP) -- Wall Street tumbled Monday, led by financial services stocks, on concerns that the U.S. economy's expansion will erode amid troubles in the mortgage industry.

The stock market's decline follows a week in which the Dow Jones industrial average made its biggest weekly point gain in more than four years, rising nearly 391 points, or 3.01 percent. But that advance proved short-lived after a pair of Federal Reserve officials on Monday expressed worry about the subprime mortgage crisis and its impact on banks and brokerages.

Fed Bank of Boston President Eric Rosengren said in a speech that he was concerned that home foreclosures might worsen as overall economic growth slows. Meanwhile, San Francisco Fed President Janet Yellen labeled growth in the final three months of the year as being "only very meager" and warned that housing problems could "spill over" into consumer spending.

Investors have been looking for a government-sponsored rescue of the mortgage industry. Treasury Secretary Henry Paulson said in a speech that the White House is moving closer to an agreement to help thousands of homeowners avoid mortgage defaults by temporarily holding their interest rates steady.

Lincoln Anderson, chief investment officer and chief economist at LPL Financial Services in Boston, said investors are uncertain about where stocks will head after last week's gains and are awaiting economic readings such as the employment report due Friday.

"I think what we've got is a market that's trying to sort out whether we're seeing a big shift in the economic and investment fundamentals here or whether we're just going to continue to slog along," he said.

According to preliminary calculations, the Dow Jones industrial average fell 57.15, or 0.43 percent, to 13,314.57.

Broader stock indicators were also lower. The Standard & Poor's 500 index dropped 8.72, or 0.59 percent, to 1,472.42, and the Nasdaq composite index fell 28.83, or 0.90 percent, to 2,637.13.

Investors also considered a report from the Institute for Supply Management that showed the pace of growth in the manufacturing sector slowed in November, though not as quickly as had been expected. The report was better than analysts' expectations.

Bond prices rose on Monday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.87 percent from 3.94 percent late Friday.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude fell 99 cents to $89.70 per barrel on the New York Mercantile Exchange amid speculation that OPEC may boost output at its meeting this week even after a sharp drop in prices last week.

Investors are awaiting the important November employment report. That could indicate the direction of consumer spending, which is seen as crucial to maintaining economic growth.

In the meantime, Wall Street will be looking for other signals about how the economy will fare, including the housing sector.

Paulson said the plan to freeze some interest rates is part of a "pragmatic response" to reality as the economy faces the worst housing pullback in more than 20 years.

Shares of Citigroup fell 24 cents to $33.06, while Bank of America Corp. fell 66 cents to $45.47.

In corporate news, Vivendi SA said it plans to acquire a controlling stake in Activision Inc. to combine it with Vivendi Games and create a rival to Electronic Arts Inc. Activision and Vivendi valued the combined company at $18.9 billion. Activision jumped $2.82, or 12.7 percent, to $24.97.

MetLife Inc., the insurance and financial services company, predicted its operating profit will rise in the fourth quarter and full year due to strong results from its business as well as "unusually strong" investment results. MetLife fell 81 cents to $64.78.

Ford Motor Co. Chief Executive Alan Mulally promised the automaker would meet the tougher federal fuel economy regulations Congress wants to impose by 2020 without having to abandon any of its lower-mileage truck or sport utility vehicle lines. However, shares fell 28 cents, or 3.7 percent, to $7.23.

The Russell 2000 index of smaller companies fell 7.88, or 1.03 percent, to 759.89.

Declining issues outpaced advancers by a 4 to 3 basis on the New York Stock Exchange, where volume came to 947.9 million shares.

Overseas, Japan's Nikkei stock average rose 0.33 percent, while Hong Kong's Hang Seng index rose 0.05 percent. In afternoon trading, Britain's FTSE 100 fell 0.71 percent, Germany's DAX index fell 0.42 percent, and France's CAC-40 fell 0.72 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by -65.84 points	-0.49% on Tuesday December 4:

Sym Last........ ........Change..........
Dow	13,248.73	-65.84	-0.49%
-- Day's Range:	13237.59 - 13316.28
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,619.83	-17.30	-0.66%
-- Day's Range:	2613.83 - 2636.01
-- 52wk Range:	2,331.57 - 2,861.51

S&P 500	1,462.79	-9.63	-0.65%
-- Day's Range:	1460.66 - 1471.34
-- 52wk Range:	1,363.98 - 1,576.09

30-yr Bond	4.3460%	-0.0080

NYSE Volume	3,287,567,500
Nasdaq Volume	2,002,470,875

*Overseas*
Japan's Nikkei stock average dropped 0.95 percent, and Hong Kong's Hang Seng index rose 0.77 percent. 

Britain's FTSE 100 fell 1.12 percent, Germany's DAX index declined 0.36 percent, and France's CAC-40 fell 1.46 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,315.20	-71.40	-1.12%
DAX	7,808.94	-28.32	-0.36%
CAC 40	5,547.21	-82.25	-1.46%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	15,480.19	-148.78	-0.95%
Hang Seng	28,879.59	+221.17	+0.77%
Straits Times	3,527.87	+6.31	+0.18%

http://biz.yahoo.com/ap/071204/wall_street.html
*Wall Street Declines on Profit Concerns*
Tuesday December 4, 4:31 pm ET
By Madlen Read, AP Business Writer
*Wall Street Falls As Investors Grow Pessimistic About Profit Prospects for Investment Firms*

NEW YORK (AP) -- Wall Street wilted Tuesday as investors awaiting next week's Federal Reserve meeting remained uneasy that fallout from the slumping housing market could bring more bank losses and pull the economy into recession.

Retreating oil prices and signs of strength in industries outside the financial sector could not keep the stock market from declining for a second straight day. Investors have entered into December, usually a winning month on Wall Street, very cautiously -- most expect to see lower rates when the Fed meets next Tuesday, but the size of the cut, if any, is under debate.

Meanwhile, JPMorgan downgraded major securities firms, warning that while further write-offs of bad mortgage debt might help the firms' stocks, longer-term concerns about their risk management might hurt their overall valuation. JPMorgan lowered its earnings estimates for some of Wall Street's biggest players: Goldman Sachs Group Inc., Lehman Brothers Holdings Inc., Merrill Lynch & Co. and Morgan Stanley.

Those investment banks and other financial companies fell, including Washington Mutual Inc., Citigroup Inc., Bank of America Corp., the government-sponsored Freddie Mac and Fannie Mae, and JPMorgan Chase & Co. itself. The sector has been dragging on the broader market since the summer.

"Earnings estimates for the fourth quarter are coming down, and a lot of that is because of the financial sector and the consumer discretionary sector, which includes the homebuilders," said Brian Gendreau, investment strategist for ING Investment Management.

He said a month ago, the consensus estimate for overall fourth-quarter earnings growth was about 10 percent; now, after warnings of subprime mortgage-related losses from the financial sector, the estimate is 2.1 percent.

"It's kind of an odd situation -- it's a dual economy," said Gendreau, pointing to robust expectations for technology and healthcare.

According to preliminary calculations, the Dow Jones industrial average fell 65.84, or 0.49 percent, to 13,248.73.

Broader stock indicators also dropped. The Standard & Poor's 500 index fell 9.63, or 0.65 percent, to 1,462.79, and the Nasdaq composite index fell 17.30, or 0.66 percent, to 2,619.83.

Bond prices also fell, giving back some of their recent sharp gains, but they remain supported by rate cut expectations. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.87 percent from 3.85 percent late Monday.

Crude oil fell $1.10 to $88.21 per barrel on the New York Mercantile Exchange amid speculation that OPEC will raise production Wednesday and after a U.S. intelligence report concluded Iran halted its nuclear weapons development program in 2003.

As Wall Street tries to determine the Fed's move, it is anxious for Friday's employment report for November, particularly after last week's unexpectedly large uptick in jobless claims. The Labor Department report could indicate the direction of consumer spending, which is crucial to economic growth.

"There's a growing concern among investors that the economy is headed into recession," said Joseph V. Battipaglia, chief investment officer at Ryan Beck & Co. "I don't believe the Fed action is going to give them a sparkling turnaround in the economy anytime soon. I don't think it even unfreezes the financial systems."

Moody's Investors Service downgraded a batch of asset-backed securities issued by Bear Stearns Cos., indicating that credit problems are persisting despite the Fed's last two rate cuts.

Most on Wall Street expect the Fed to further reduce the target federal funds rate, which stands now at 4.50 percent. Traders who bet on the Fed's next move were pricing in a 100 percent chance of a quarter-point cut, and a more than 60 percent chance of a half-point cut.

Still, financial stocks continued their slide, signaling that a Santa Claus rally may be tough to pull off given lingering worries about the risky debt banks hold. A report by D.A. Davidson & Co. analysts said bank stocks are at three- to four-year lows, and that after falling 25-30 percent this year, bank and thrift stocks are having their worst year since 1990.

Goldman fell $7.87, or 3.5 percent, to $219.02; Lehman fell $2.23, or 3.6 percent, to $59.15; Merrill fell $2.02, or 3.4 percent, to $57.04; Morgan Stanley fell $2.46, or 4.7 percent, to $49.82.

Although other sectors have been performing better, there was not much news Tuesday to lift Wall Street's mood.

Nokia Corp. fell $1.32, or 3.3 percent, to $38.92. The world's largest mobile phone maker disappointed investors with its operating margin targets. However, it predicted the global market for mobile devices will grow 10 percent in 2008 and that its share will increase.

Automakers also declined for the second day after General Motors posted weak November sales data and said it is slashing production. GM was the biggest loser among the 30 Dow companies after falling 93 cents, or 3.3 percent, to $27.68.

Declining issues outnumbered advancers by about 7 to 4 on the New York Stock Exchange, where volume came to 1.33 billion shares.

The Russell 2000 index of smaller companies fell 7.91, or 1.04 percent, to 752.06.

The dollar was mixed against other major currencies. Gold rose.

Overseas, Japan's Nikkei stock average dropped 0.95 percent, and Hong Kong's Hang Seng index rose 0.77 percent. Britain's FTSE 100 fell 1.12 percent, Germany's DAX index declined 0.36 percent, and France's CAC-40 fell 1.46 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

http://www.theaustralian.news.com.au/story/0,25197,22873218-36418,00.html

*Canada cuts interest rates*
From correspondents in Ottawa | December 05, 2007

CANADA'S central bank lowered its key lending rate by a quarter point to 4.25 per cent on concerns that a soaring Canadian dollar, US economic woes and tighter credit may curb Canadian exports.

The Bank of Canada noted that the global economic expansion has remained robust and commodity prices have continued to be strong.

The Canadian economy has continued to operate above its production capacity, reflecting in large part underlying strength in domestic demand, it said.

However, inflation is expected to remain lower than was projected at the bank's last meeting in October, reflecting increased competitive pressures related to the stronger Canadian dollar.

Global financial market difficulties related to the default crisis in US subprime mortgages -- loans that are given to homebuyers with poor credit histories -- and anticipated losses from the turmoil have increased since mid-October, and are expected to persist, the bank said.

Bank funding costs subsequently have increased in Canada and worldwide, and credit conditions have tightened further.

"There is an increased risk to the prospects for demand for Canadian exports as the outlook for the US economy, and in particular the US housing sector, has weakened," the bank said.

"All these factors considered, the bank judges that there has been a shift to the downside in the balance of risks around its October projection for inflation through 2009."

"In light of this shift, the bank has decided to lower the target for the overnight rate."


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +196.23 points	+1.48% on Wednesday December 5:

Sym Last........ ........Change..........
Dow	13,444.96	+196.23	+1.48%
-- Day's Range:	13244.01 - 13460.24
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,666.36	+46.53	+1.78%
-- Day's Range:	2647.41 - 2671.72
-- 52wk Range:	2,331.57 - 2,861.51

S&P 500	1,485.01	+22.22	+1.52%
-- Day's Range:	1465.22 - 1486.09
-- 52wk Range:	1,363.98 - 1,576.09

30-yr Bond	4.3910%	+0.0450

NYSE Volume	3,647,983,250
Nasdaq Volume	2,258,817,250

*Overseas*
Japan's Nikkei stock average closed up 0.83 percent, while Hong Kong's Hang Seng index rose 1.61 percent. 

Britain's FTSE 100 closed up 2.83 percent, Germany's DAX index rose 1.74 percent, and France's CAC-40 increased 2.02 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,493.80	+178.60	+2.83%
DAX	7,944.77	+135.83	+1.74%
CAC 40	5,659.07	+111.86	+2.02%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	15,608.88	+128.69	+0.83%
Hang Seng	29,345.45	+465.86	+1.61%
Straits Times	3,560.05	+32.18	+0.91%

http://biz.yahoo.com/ap/071205/wall_street.html
*Stocks Rally on Strong Economic Data*
Wednesday December 5, 4:29 pm ET
By Joe Bel Bruno, AP Business Writer
*Stocks Soar As Investors Grow More Optimistic About Economy, Upcoming Interest Rate Cut*

NEW YORK (AP) -- Wall Street resumed its rally Wednesday after new data showed the overall economy is holding up but isn't too strong to prevent the Federal Reserve from cutting interest rates. The Dow Jones industrial average rose nearly 200 points.

Stocks turned around following two sessions of losses after a report showed hiring in the U.S. private sector expanded at a faster pace in November. ADP Employer Services said 189,000 jobs were added during the month -- an increase that bodes well for consumer spending.

The report raised hopes for a strong November jobs report from the Labor Department on Friday. Investors were also encouraged Wednesday after the department reported worker productivity advanced by an annual rate of 6.3 percent in the summer, the fastest pace in four years, while wage pressures eased.

"The best news for the market is good news on the economy," said Jack Ablin, chief investment officer at Harris Private Bank. "There might be a general malaise among homeowners these days, but as long as more people are getting paychecks then the economy can withstand the stress."

Still, there is enough uncertainty in the economy to bolster the argument for lower rates. The financial sector is still struggling from months of credit problems, and the Institute for Supply Management reported Wednesday that service sector growth slowed in November.

Some investors are betting the Fed will go beyond the generally anticipated quarter percentage point cut, and lower rates by a half point. A mere quarter-point cut could bring some disappointment to Wall Street, but as long as the Fed reiterates an openness to lower rates further in its accompanying economic assessment, the market should move higher, said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research.

"We could see a nice December here," Detrick said.

According to preliminary calculations, the Dow rose 196.23, or 1.48 percent, to 13,444.96, resuming the big recovery it launched last week following a mostly dismal November.

The blue chip index got an extra boost from component American International Group Inc., which said that although it's expecting a hefty portfolio writedown in the fourth quarter, the ongoing mortgage crisis is manageable. AIG rose $2.70, or 4.9 percent, to $58.15.

Broader indexes also moved higher. The Standard & Poor's 500 index added 22.22, or 1.52 percent, to 1,485.01, while the Nasdaq composite index rose 46.53, or 1.78 percent, to 2,666.36.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.91 percent from 3.90 percent late Tuesday. The dollar rose, and gold prices fell.

The market is currently pricing in a rate cut next week, Ablin said. Supporting the case for a cut is that central banks globally seem to be open to the idea, a trend that would give the Fed even more room to move.

The Bank of Canada cut rates Tuesday, while the Bank of England and European Central Bank will make rate decisions Thursday.

Investors also weighed a Commerce Department report that showed factory orders unexpectedly rose in October. However, that data was likely offset by a report from the Institute for Supply Management showing growth in the service sector cooled somewhat in November.

Wednesday's advance was fed by investors betting that the Fed might be generous and cut rates a half percentage point, or, in market lingo, 50 basis points.

"I do believe the market wants 50, that the Fed needs to do a lot more work, and that a quarter is not going to do it," said Greg Church, chief investment officer of Church Capital Management.

A resumption of the downtrend in oil prices also contributed to the gains on Wall Street. OPEC decided Wednesday to keep production steady but set a new meeting for Feb. 1 to raise output if prices rise. Meanwhile, the government reported that U.S. oil supplies fell steeply last week while gasoline stockpiles rose, both by greater margins than analysts had expected.

Light, sweet crude fell 83 cents to settle at $87.49 a barrel on the New York Mercantile Exchange.

Fannie Mae shares rose 95 cents, or 2.7 percent, to $36.13 after it followed rival mortgage financer Freddie Mac in cutting its dividend and selling special stock to raise capital. The government-sponsored lender hopes to cushion against mounting losses from high-risk home loans. Freddie rose $2.36, or 7.3 percent, to $34.67.

Technology stocks broadly advanced after Intel Corp.'s stock was upgraded on expectations the personal computer market will be strong next year. Shares added 91 cents, or 3.5 percent, to $27.22.

The Russell 2000 index of smaller companies rose 13.58, or 1.81 percent, to 765.64.

Advancing issues led decliners by a nearly 3 to 1 basis on the New York Stock Exchange, where volume came to 1.43 billion shares.

Overseas, Japan's Nikkei stock average closed up 0.83 percent, while Hong Kong's Hang Seng index rose 1.61 percent. Britain's FTSE 100 closed up 2.83 percent, Germany's DAX index rose 1.74 percent, and France's CAC-40 increased 2.02 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

*Solution for subprime loans on the horizon - reports a sub-prime mortgage rescue plan

There is hope for the DOW rising!*

http://biz.yahoo.com/ap/071205/mortgage_crisis.html

*Five-Year Mortgage Rate Freeze Looms*
Wednesday December 5, 3:40 pm ET
By Martin Crutsinger and Alan Zibel, Associated Press Writers
*Bush Mortgage Plan Will Freeze Certain Subprime Interest Rates for 5 Years*

WASHINGTON (AP) -- The Bush administration has hammered out an agreement with industry to freeze interest rates for certain subprime mortgages for five years in an effort to combat a soaring tide of foreclosures, congressional aides said Wednesday.

These aides, who spoke on condition of anonymity because the details have not yet been released, said the five-year moratorium represented a compromise between desires by banking regulators for a longer time frame of as much as seven years and industry arguments that the freeze should only last one to two years.

Another person familiar with the matter said the rate-freeze plan would apply to borrowers with loans made at the start of 2005 through July 30 of this year with rates that are scheduled to rise between Jan. 1, 2008, and July 31, 2010.

The administration said that President Bush will speak on the agreement at the White House on Thursday and the Treasury Department announced that Treasury Secretary Henry Paulson and Housing and Urban Development Secretary Alphonso Jackson would hold a joint news conference Thursday afternoon with officials of the mortgage industry.

Treasury also announced that there would be a technical briefing to explain more of the details of the proposal.

Paulson, who has been leading the effort to craft a plan, said on Monday that the program would only be available for owner-occupied homes -- as a way to make sure that the break is not granted to real estate speculators.

The plan emerged from talks between Paulson and other banking regulators and banks, mortgage investors and consumer groups trying to address an avalanche of foreclosures that are feared as an estimated 2 million subprime mortgages reset from lower introductory rates to higher rates.

The higher rates in many cases will boost monthly payments by as much as 30 percent, making it extremely difficult for many people to keep current with their loans.

The plan is aimed at homeowners who are making payments on time at lower introductory mortgage rates but cannot afford a higher adjusted rate.

Through October, there were about 1.8 million foreclosure filings nationwide, compared with about 1.3 million in all of 2006, according to Irvine, Calif-based RealtyTrac Inc. With home loan defaults still rising, the trend is expected to worsen next year.

The plan represents an about-face for Paulson, who until recently had insisted that the mortgage crisis could be handled on a case-by-case basis. However, he and other administration officials became convinced that the tide of foreclosures threatened by the mortgage resets represented such a severe threat that a more sweeping approach was needed along the lines of a plan put forward in October by Sheila Bair, head of the Federal Deposit Insurance Corp.

Paulson and other federal regulators began holding talks with some of the country's biggest mortgage lenders, mortgage service companies, investors who hold mortgage-backed securities and nonprofit groups that provide counseling for at-risk homeowners.

Under the typical subprime loan, those offered to borrowers with spotty credit histories, the rates for the first two years were at levels around 7 percent to 9 percent. But after two years, those rates were scheduled to reset to levels around 9 percent to 11 percent.

For a typical $1,200 monthly mortgage payment, the reset could add another $350 to the monthly payment, greatly raising the risks of loan defaults by homeowners struggling with the current payment.

The wave of mortgage foreclosures threatened to make the most severe slump in housing even worse by dumping more foreclosed properties onto an already glutted market, further depressing home prices and shaking consumer confidence.

The deepening housing slump has already roiled financial markets, starting in August, as investors grew increasingly concerned about billions of dollars of losses being suffered by banks, hedge funds and other investors.

The administration plan is designed to deal with the crisis by allowing subprime borrowers who are living in their homes and are current on their payments to avoid a costly reset for five years. The hope is that by that time the housing downturn will have stabilized, clearing out the glut of unsold homes and halting the steep slide in prices that is occurring in many parts of the country.

With sales and prices once again rising, the expectation is that homeowners will be able to renegotiate their current adjustable rate mortgages into a more affordable fixed-rate plan.

The housing crisis has become an issue in the presidential race with Democrats Hillary Rodham Clinton and John Edwards putting forward their own proposals this week that would go further than the administration.

Mark Zandi, chief economist for Moody's Economy.com, said while the administration plan is a good first step, eventually the government will have to go further because of the size of the problem and the threat to the economy.

"This is the most serious housing downturn we have seen in the post World War II period," he said. "It is a threat to the broader economy. The risks of a recession are very high."

Associated Press reporters Deb Reichmann and Nedra Pickler contributed to this report.


----------



## The Mint Man

Two bits of good news on yahoo finance this morning.
This stood out to me;


> The Bush administration has hammered out an agreement with industry to freeze interest rates for certain subprime mortgages for five years in an effort to combat a soaring tide of foreclosures, congressional aides said Wednesday.
> 
> These aides, who spoke on condition of anonymity because the details have not yet been released, said the five-year moratorium represented a compromise between desires by banking regulators for a longer time frame of as much as seven years and industry arguments that the freeze should only last one to two years.
> .......
> The administration said that President Bush will speak on the agreement at the White House on Thursday



and


> "The best news for the market is good news on the economy," said Jack Ablin, chief investment officer at Harris Private Bank. "There might be a general malaise among homeowners these days, but as long as more people are getting paychecks then the economy can withstand the stress."
> 
> Still, there is enough uncertainty in the economy to bolster the argument for lower rates. The financial sector is still struggling from months of credit problems, and the Institute for Supply Management reported Wednesday that service sector growth slowed in November.
> 
> Some investors are betting the Fed will go beyond the generally anticipated quarter percentage point cut, and lower rates by a half point. A mere quarter-point cut could bring some disappointment to Wall Street, but as long as the Fed reiterates an openness to lower rates further in its accompanying economic assessment, the market should move higher, said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research.
> 
> *"We could see a nice December here," *Detrick said.




I like good news


----------



## Kauri

The Mint Man said:


> Two bits of good news on yahoo finance this morning.
> This stood out to me;
> 
> 
> 
> The Bush administration has hammered out an agreement with industry to freeze interest rates for certain subprime mortgages for five years in an effort to combat a soaring tide of foreclosures, congressional aides said Wednesday.
> 
> These aides, who spoke on condition of anonymity because the details have not yet been released, said the five-year moratorium represented a compromise between desires by banking regulators for a longer time frame of as much as seven years and industry arguments that the freeze should only last one to two years.
> 
> 
> 
> 
> .......
> The administration said that President Bush will speak on the agreement at the White House on Thursday
> 
> 
> I like good news
Click to expand...



Hi Mint Man,
                Further to your article...
Cheers
............Kauri




> Federal regulators and U.S. lenders have agreed to freeze rates on sub prime mortgages for five years to stem rising foreclosures and ease the risks from the housing slump. President Bush will announce the accord tomorrow and Paulson will release the details at a press conference.
> This was behind the late rally on Wall Street and should cause risk aversion to fall, providing support for the high yielders and JPY crosses.
> Longer-term this will be a significant disincentive for foreign capital to invest in the U.S., as it sets a significant precedent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +174.93 points	+1.30% on Thursday December 6:

Sym Last........ ........Change..........
Dow	13,619.89	+174.93	+1.30%
-- Day's Range:	13,426.18 - 13,632.25
-- 52wk Range:	11,926.80 - 14,280.00

Nasdaq	2,709.03	+42.67	+1.60%
-- Day's Range:	2664.71 - 2709.10
-- 52wk Range:	2,331.57 - 2,861.51

S&P 500	1,507.34	+22.33	+1.50%
-- Day's Range:	1,482.19 - 1,508.02
-- 52wk Range:	1,363.98 - 1,576.09

30-yr Bond	4.4790%	+0.0880

NYSE Volume	3,394,691,000
Nasdaq Volume	1,970,414,120

*Overseas*
Japan's Nikkei stock average rose 1.70 percent, while Hong Kong's Hang Seng index rose 0.73 percent. 

Britain's FTSE 100 fell 0.13 percent, Germany's DAX index fell 0.05 percent, and France's CAC-40 rose 0.26 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,485.60	-8.20	-0.13%
DAX	7,940.58	-4.19	-0.05%
CAC 40	5,673.76	+14.69	+0.26%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	15,874.08	+265.20	+1.70%
Hang Seng	29,558.92	+213.47	+0.73%
Straits Times	3,552.55	-7.50	-0.21%

http://biz.yahoo.com/ap/071206/wall_street.html
*Stocks Rally Again on Mortgage Plan*
Thursday December 6, 4:47 pm ET
By Madlen Read, AP Business Writer
*Wall Street Rallies Once Again on Bush Plan on Mortgage Rates, High Hopes for Fed Rate Cut*

NEW YORK (AP) -- Wall Street rallied once again Thursday as investors bet that companies hurt by the housing crisis will benefit from a government plan to help financially stretched homeowners and from another interest rate cut.

The Dow Jones industrial average surged more than 170 points after a nearly 200-point rise Wednesday.

Wall Street has been concerned about the housing slump's impact on consumers, and started out a bit shaky Thursday when Target Corp. released lackluster sales and a downbeat December outlook. However, stocks eventually pushed higher; a weak consumer, though bad for corporate profits, at least supports the argument for the Fed Reserve to lower interest rates when it meets Tuesday. A rate cut could help reinvigorate the slowing economy and loosen up the tight credit markets.

Stocks got an additional boost when President Bush announced a plan allowing some homeowners facing foreclosure to not only freeze their interest rates for up to five years, but also refinance their mortgages. The plan was created by the Treasury Department, mortgage lenders and banks, and could help about 1.2 million homeowners, Bush said.

"That's providing a glimmer of hope," said Jim Herrick, director of equity trading at Baird & Co. "But there's some skepticism. Is this really going to be the panacea to the subprime market? That's the $64,000 question."

Even Treasury Secretary Henry Paulson said the plan was not a "silver bullet."

Foreclosures hit a record high in the third quarter, according to the Mortgage Bankers Association. The fallout from the crisis has weighed on the financial services sector this year, with banks and brokerages writing down some $80 billion worth of securities tied to mortgages.

According to preliminary calculations, the Dow rose 174.93, or 1.30 percent, to 13,619.89.

Broader stock indicators also extended their gains. The Standard & Poor's 500 index rose 22.33, or 1.50 percent, to 1,507.34, and the Nasdaq composite index rose 42.67, or 1.60 percent, to 2,709.30.

Bond prices fell as investors returned to stocks. The yield on the benchmark 10-year Treasury note, which moves opposite to its price, rose to 4.02 percent from 3.95 percent late Tuesday.

Countrywide Financial Corp., the nation's largest mortgage lender, rose $1.68, or 16 percent, to $12.10, on the government mortgage rate plan.

"Investors are having a collective sigh of relief that this is a positive signal the housing crisis and credit credit crunch will not cause the end of this bull market," said Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors.

But the stock market has been volatile since the summer, jumping on signals that the worst of the credit crisis is over and then plunging on hints that it could persist well into next year. With the Fed's meeting Tuesday and investment bank fourth-quarter earnings around the corner, there remains an undercurrent of nervousness on Wall Street.

"We get this newfound optimism, a shot in the arm, of confidence, and then the rug gets pulled out from under us -- that's been our experience for the last three months, four months," Johnson said. "There's no question that there still is a very high level of uncertainty, caution, worry, that confidence in the stock market has not been rebuilt."

November was the worst month for the Dow in five years, and many investors have been uncertain that a December rally can happen given the ongoing turmoil in the financial system.

Many corners of the credit markets remain at a standstill -- asset-backed commercial paper outstanding fell by $23.1 billion in the week ended Wednesday, the largest drop in a month, indicating low demand.

And meanwhile, consumer spending appears to be suffering from sinking home prices and high gas prices.

Target Corp. fell $4.56, or 7.6 percent, to $55.57, after saying December sales will fall short of its previous forecast. J.C. Penney Co. fell $1.01, or 2.2 percent, to $44.84 after reporting November sales that were below expectations.

Investors remain on the lookout for signs that the Federal Reserve will reduce rates for a third time this year, but they also want to see that the economy is not headed for recession. Several Fed officials in recent weeks have said they expect housing to keep dragging on the economy well into next year.

Ahead of Friday's highly anticipated report on November payrolls and unemployment, the Labor Department said the number of U.S. workers filing new claims for unemployment benefits fell as expected last week. Still, the four-week average hit a two-year high, suggesting a softening job market.

Advancing issues outnumbered decliners by about 4 to 1 on the New York Stock Exchange, where volume came to 1.37 billion shares.

Crude oil surged $2.74 to settle at $90.23 a barrel on the New York Mercantile Exchange.

The dollar was mixed against other major currencies, while gold prices slipped.

Overseas, Japan's Nikkei stock average rose 1.70 percent, while Hong Kong's Hang Seng index rose 0.73 percent. Britain's FTSE 100 fell 0.13 percent, Germany's DAX index fell 0.05 percent, and France's CAC-40 rose 0.26 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

http://biz.yahoo.com/ap/071206/mortgage_crisis.html

Mortgage Rate Freeze Reached
Thursday December 6, 2:31 pm ET
By Martin Crutsinger, AP Economics Writer
Deal Reached With Mortgage Industry for 5-Year Rate Freeze

WASHINGTON (AP) -- Hundreds of thousands of strapped homeowners could get some relief from a plan negotiated by the Bush administration to freeze interest rates on subprime mortgages that are scheduled to rise in the coming months.

"There is no perfect solution," President Bush said Thursday as he announced an agreement hammered out with the mortgage industry. "The homeowners deserve our help. The steps I've outlined today are a sensible response to a serious challenge."

Bush has been accused of moving too slowly to address a crisis that has spread to the broader financial market. But he also was careful not to sound as if he were imposing a government solution and violating his free-market principles. He billed his plan as a voluntary, private-sector arrangement that involves no government money.

"We should not bail out lenders, real estate speculators or those made the reckless decision to buy a home they knew they could never afford," Bush said after meeting with industry leaders at the White House. "But there are some responsible homeowners who could avoid foreclosure with some assistance."

Bush said 1.2 million people could be eligible for help. But only a fraction will be subject to the rate freeze. Others would get assistance in refinancing with their lenders and moving into loans secured by the Federal Housing Administration, Bush said.

Also, the aid will only come to those who ask for it, he said. Thousands of borrowers who are falling behind on their payments have been sent letters about the options, and Bush also urged people to call a new hot line: 1-888-995-HOPE.

The announcement followed the news earlier Thursday that home foreclosures surged to an all-time high in the July-September period. The Mortgage Bankers Association reported that the percentage of all mortgages that started the foreclosure process in the third quarter jumped to a record 0.78 percent, surpassing the previous record of 0.65 percent of all mortgages in the second quarter.

The administration's effort is aimed at stemming a further tidal wave of foreclosures in coming years as 2 million subprime mortgages -- loans provided to borrowers with spotty credit histories -- reset from their introductory rates of around 7 percent to 8 percent to levels as high as 11 percent, adding hundreds of dollars to the typical monthly payment.

A recent surge in mortgage defaults, part of the worst housing slump in more than two decades, has piled up billions of dollars in losses for big banks, hedge funds and other investors while roiling financial markets worldwide. Some economists think the housing bust may become severe enough to push the country into recession.

Bush originally gave the wrong number for the hot line; the White House later corrected him.

The president mentioned other steps to prevent foreclosures. The FHA has greater flexibility to offer refinancing to homeowners with good credit histories. It is expected that this eventually will help 300,000 families, officials said.

The Federal Reserve is announcing stronger lending standards this month, while the Housing and Urban Development Department and federal banking regulators are acting to improve disclosure requirements, he said.

The highest-profile part of the plan would freeze introductory "teaser" rates on certain subprime mortgages, preventing from rates from jumping up for five years.

This offer would apply only to people living in their homes and who have not missed any payments at the lower rate. It also only would apply to loans taken out between 2005 and this past July 30 and scheduled to rise to higher rates in 2008 and 2009.

The hope is that the five-year freeze will buy time for the housing sales and prices to start rising again. Such a rebound would enable homeowners to refinance their current adjustable rate mortgages into fixed-rate loans with more affordable monthly payments.

But even Treasury Secretary Henry Paulson, who led the negotiations with the mortgage industry, acknowledged the effort is "not a silver bullet."

"We face a difficult problem," he said.

The big sticking point in the negotiations was getting investors who had purchased the mortgages after they were bundled into securities to agree to accept lower interest payments. Critics have said even with a deal, there are likely to be lawsuits. But officials representing major players in the mortgage industry said they believed the plan would withstand any legal challenges and would help at-risk homeowners avoid defaulting on their mortgages.

The president also did not miss the chance to lash out at the Democratic-controlled Congress.

Bush blamed lawmakers for not sending him legislation that he said would show they "are serious about responding to the challenges in the housing market." One measure would give the FHA more flexibility; a second would change the tax laws temporarily to help people who have a portion of their mortgage forgiven by banks.

"The Congress has not sent me a single bill to help homeowners," Bush said.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +5.69 points	+0.04% on Friday December 7:

Sym Last........ ........Change..........
Dow	13,625.58	+5.69	+0.04%

Nasdaq	2,706.16	-2.87	-0.11%

S&P 500	1,504.66	-2.68	-0.18%

30-yr Bond	4.5850%	+0.1060

NYSE Volume	3,188,206,250
Nasdaq Volume	1,928,192,250

*Overseas*
Japan's Nikkei stock average closed up 0.52 percent, while Hong Kong's Hang Seng index fell 2.42 percent. 

Britain's FTSE 100 closed up 1.07 percent, Germany's DAX index rose 0.67 percent, and France's CAC-40 increased 0.79 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,554.90	+69.30	+1.07%
DAX	7,994.07	+53.49	+0.67%
CAC 40	5,718.75	+44.99	+0.79%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	15,956.37	+82.29	+0.52%
Hang Seng	28,842.47	-716.45	-2.42%
Straits Times	3,557.95	+5.40	+0.15%

http://biz.yahoo.com/ap/071208/wall_street.html

*Stocks Sputter After November Job Report*
Saturday December 8, 12:38 am ET
By Joe Bel Bruno, AP Business Writer
*Stocks Barely Budge After Employment Report Shows Strength, but Leaves Room for Fed Rate Cut*

NEW YORK (AP) -- Wall Street paused from its big rally Friday, with stocks closing narrowly mixed after the government's November labor report showed tepid job growth as well as a pickup in inflation. The major indexes ended the week higher, with the Dow Jones industrials having gained nearly 900 points over nine trading days.

The Labor Department reported 94,000 jobs were added to payrolls in November and that the unemployment rate held steady at 4.7 percent. Thomson/IFR analysts had set a median projection of 100,000 new jobs. The report also showed that average hourly earnings increased 0.5 percent in November, compared with forecasts for a more-modest 0.3 percent.

The report at least temporarily chilled a rally that has left the Dow only 538 points, or 3.8 percent, below the record close it reached on Oct. 9.

"I'd call it an employment letdown," said Jack A. Ablin, chief investment officer at Harris Private Bank. "A little air came out of the party balloon."

"Stocks are taking a breather from a maniacal runup over the last few days," said Paul Nolte, director of investments at Hinsdale Associates. He described the stock market as paralyzed ahead of the Federal Reserve's meeting on interest rates on Tuesday, and said many investors don't want to make bold moves until the Fed's decision is announced.

On the plus side, the report did give the Fed more room to lower rates. The debate now centers on whether the central bank will drop rates by a quarter percentage point when it meets on Tuesday, or finish the year with a half-point cut. However, Nolte noted that it would be easier to make a case for a larger cut if the November employment report had been weaker.

The Dow rose 5.69, or 0.04 percent, to 13,625.58, and finished the week up 1.9 percent.

The Standard & Poor's 500 index fell 2.68, or 0.18 percent, to 1,504.66, but ended the week up 1.59 percent.

The technology-dominated Nasdaq composite index dipped 2.87, or 0.11 percent, to 2,706.16, but ended the week 1.70 percent higher.

The week's trading saw investors growing in confidence about the overall health of the economy and the nation's ability to generally weather the months-long credit crisis. Stocks' big advance over the past two weeks came amid signs that the Fed was indeed concerned about slowing economic growth, and as financial institutions and the government took steps to mitigate the damage from billions of dollars in soured mortgages and credit losses.

Bond prices fell Friday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 4.12 percent from 4.02 percent late Thursday. The dollar slumped, while gold prices also fell.

Light, sweet crude fell $1.95 to settle at $88.28 per barrel on the New York Mercantile Exchange. Government data released earlier this week showed an increase in U.S. supplies of gasoline and distillates.

Oil's retreat boosted airline and other transportation stocks, as did November traffic reports showing that carriers are making inroads in offsetting fuel costs. The Dow Jones Transportation Average rose 86.82, or 1.81 percent, to 4,876.35.

The University of Michigan's preliminary reading on consumer confidence for this month showed that consumers are worried about higher gas prices and weakness in the credit markets. The headline index declined to 74.5 from 76.1 in November. Thomson/IFR had forecast a 76.0 reading.

Corporate news on Friday was mixed, indicating that business deals are still being made despite the lack of demand in many corners of the credit markets, but that some industries could see dampened profits in 2008 because of the slowing economy.

ArcelorMittal, the world's largest steelmaker, said Friday it will offer at least $1.65 billion for the remaining shares in Chinese steelmaker China Oriental Group Co. that it does not own. But analysts questioned whether Beijing would approve foreign ownership in a strategic sector of the Chinese Economy. ArcelorMittal stock rose $1.12, of 1.5 percent, to $73.93.

Macrovision Corp., which develops technology to prevent unauthorized copying and viewing of video, music and other content, said it will buy television listings provider Gemstar-TV Guide International Inc. for $2.8 billion in cash and stock.

Shares of Macrovision slid $5.55, or 21.4 percent, to $20.44. Gemstar-TV shares lost 99 cents, or 16.6 percent, to $4.99.

James Murdoch was appointed News Corp.'s chairman and chief executive for Europe and Asia, officials said Friday. This most likely positions him as a successor to his father, Rupert Murdoch. Its shares advanced 14 cents to $21.98.

Palm Inc. dropped 83 cents, or 11.1 percent, to $5.74 after the hand-held computer maker cut its revenue outlook because of shipping delays.

And gun maker Smith & Wesson Holding Corp. dropped after cutting its 2008 outlook. Its shares shed $2.84, or 28.6 percent, to $7.08.

Advancing issues narrowly outnumbered decliners on the New York Stock Exchange. Consolidated volume came to 2.88 billion shares, down from 3.36 billion shares Thursday.

The Russell 2000 index of smaller companies fell 1.43, or 0.18 percent, to 785.52.

Overseas, Japan's Nikkei stock average closed up 0.52 percent, while Hong Kong's Hang Seng index fell 2.42 percent. Britain's FTSE 100 closed up 1.07 percent, Germany's DAX index rose 0.67 percent, and France's CAC-40 increased 0.79 percent.

The Dow Jones industrial average ended the week up 253.86, or 1.90 percent, at 13,625.58. The Standard & Poor's 500 index finished up 23.52, or 1.59 percent, at 1,504.66. The Nasdaq composite index ended up 45.20, or 1.70 percent, at 2,706.16.

The Russell 2000 index finished the week up 17.75, or 2.31 percent, at 785.52.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 15,195.10, up 262.45 points, or 1.76 percent, for the week. A year ago, the index was at 14,199.99.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +101.45 points	+0.74% on Monday December 10:

Sym Last........ ........Change..........
Dow	13,727.03	+101.45	+0.74%
Nasdaq	2,718.95	+12.79	+0.47%
S&P 500	1,515.96	+11.30	+0.75%
30-yr Bond	4.6150%	+0.0300

NYSE Volume	2,885,554,750
Nasdaq Volume	1,821,193,750

Overseas
Japan's Nikkei stock average closed down 0.20 percent, while Hong Kong's Hang Seng index fell 1.18 percent. 

Britain's FTSE 100 rose 0.16 percent, Germany's DAX index rose 0.49 percent, and France's CAC-40 increased 0.56 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,565.40	+10.50	+0.16%
DAX	8,033.36	+39.29	+0.49%
CAC 40	5,750.92	+32.17	+0.56%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225 	15,924.39 	-31.98 	-0.20%
Hang Seng	28,501.10	-341.37	-1.18%
Straits Times 	3,553.08 	-4.87

http://biz.yahoo.com/ap/071210/wall_street.html
*Stocks Rise Ahead of Fed Meeting*
Monday December 10, 5:01 pm ET
By Madlen Read, AP Business Writer
*Wall Street Extends Advance As Investors Hoping for Rate Cut Shrug Off UBS Subprime Writedown*

NEW YORK (AP) -- Wall Street advanced Monday as expectations for an interest rate cut from the Federal Reserve and an uptick in pending home sales helped offset concerns about another round of subprime mortgage-related losses. The Dow Jones industrials gained more than 100 points.

Investors remained upbeat ahead of the Fed's rate-setting meeting on Tuesday. Policymakers are broadly expected to lower rates, though economists are still split over whether there will be a quarter-point cut or half-point cut.

The National Association of Realtors gave Wall Street reason to be optimistic Monday when it said its forward-looking index of U.S. home sales rose in October for the second month in a row. Though investors still expect the housing market to remain weak well into 2008, the association is forecasting sales and prices to start recovering modestly next year.

The downturn in housing has led to huge losses among banks that invested in securities backed by mortgages, and on Monday, UBS revealed large writedowns. The Swiss bank said it will write down some $10 billion of subprime mortgage holdings, which could lead to full-year losses. However, its U.S. shares rose $1.10, or 2.2 percent, to $51.58 after the bank unveiled plans for an $11.5 billion cash infusion from the government of Singapore and an unidentified Middle Eastern investor.

"The financial stocks are leading the way higher because of the UBS news," said Donald Selkin, director of equity research at Joseph Stevens. "There is optimism today that we have seen the worst in the financial sector. There is a feeling that these stocks have already discounted the worst case scenario."

The announcement from UBS comes ahead of fourth-quarter earnings from the top U.S. investment banks. Lehman Brothers Holdings Inc. will release results Thursday, while Goldman Sachs Group Inc., Morgan Stanley and Bear Stearns Cos. are scheduled to report next week.

After the closing bell, Washington Mutual Inc. said it will record a $1.6 billion writedown on its home loans business as it announced plans to discontinue all subprime mortgage lending and eliminate 2,600 positions in the home loans segment. The nation's largest savings and loan now expects a loss in the fourth quarter due to the writedown.

The Dow rose 101.45, or 0.74 percent, to 13,727.03.

Broader stock indicators also rose. The Standard & Poor's 500 index rose 11.17, or 0.74 percent, to 1,515.83. The Nasdaq composite index added 12.79, or 0.47 percent, to 2,718.95.

Bond prices fell. The 10-year Treasury note's yield, which moves opposite the price, rose to 4.16 percent from 4.12 percent late Friday.

The dollar was mixed against other major currencies, and gold prices rose.

Wall Street has posted robust gains recently as investors grew more confident in the Fed's openness to loosening its policy again. The Dow has risen more than 740 points over the last two weeks, a rally that has brought the blue-chip index to about 3 percent below the record close it reached Oct. 9.

WaMu's shares shed 88 cents, or 4.4 percent, to $19 in aftermarket activity, after the stock rose 85 cents, or 4.5 percent, to close at $19.88.

Blackstone Group LP might be planning a bid to acquire steel company Rio Tinto Ltd., according to Britain's Daily Telegraph. Blackstone would lead a consortium that would include China's sovereign wealth fund, according to the report. Blackstone rose $1.52, or 6.9 percent, to $23.45, and Rio Tinto rose $9.71, or 2.1 percent, to $477.71.

McDonald's Corp., the world's largest fast-food company, said global same-store sales rose 8.2 percent in November. Much of the strength came from overseas, including Europe and Asia. McDonald's, one of the 30 Dow components, rose $1.74, or 2.9 percent, to $61.90.

Shares of Dow component Caterpillar Inc. advanced after a Bear Stearns analyst highlighted the construction and farm equipment maker's focus on China, where the construction market is expected to keep surging. The stock rose $2.38, or 3.2 percent, to $76.58.

Oil prices were volatile amid end-of-year position taking and anticipation of Tuesday's Fed meeting. Light, sweet crude reversed course to close down 42 cents to $87.86 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 5.68, or 0.72 percent, to 791.22.

Advancing issues outnumbered decliners by slightly less than 2 to 1 on the New York Stock Exchange. Volume came to 1.17 billion shares, compared with 1.20 billion shares on Friday.

Overseas, Japan's Nikkei stock average closed down 0.20 percent, while Hong Kong's Hang Seng index fell 1.18 percent. Britain's FTSE 100 rose 0.16 percent, Germany's DAX index rose 0.49 percent, and France's CAC-40 increased 0.56 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by -294.26 points	-2.14% on Tuesday December 11:

Wall Street plunged Tuesday after the Federal Reserve lowered interest rates by a quarter point, disappointing investors who hoped the central bank would move more aggressively to help the economy overcome the credit and mortgage crisis. The Dow Jones industrial average skidded more than 290 points.

Sym Last........ ........Change..........
Dow	13,432.77	-294.26	-2.14%

Nasdaq	2,652.35	-66.60	-2.45%

S&P 500	1,477.65	-38.31	-2.53%

30-yr Bond	4.4820%	-0.1330

NYSE Volume	4,021,268,250
Nasdaq Volume	2,230,252,750

*Overseas*
Japan's Nikkei stock average closed up 0.76 percent, while Hong Kong's Hang Seng index added 2.55 percent. 

Britain's FTSE 100 fell 0.43 percent, Germany's DAX index shed 0.30 percent, and France's CAC-40 dropped 0.45 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,536.90	-28.50	-0.43%
DAX	8,009.42	-23.94	-0.30%
CAC 40	5,724.76	-26.16	-0.45%

*Asia*
Symbol..... Last............ .....Change.......
Nikkei 225	16,044.72	+120.33	+0.76%
Hang Seng	29,226.84	+725.74	+2.55%
Straits Times	3,589.03	+35.95	+1.01%

http://biz.yahoo.com/ap/071211/wall_street.html
*Stocks Fall After Fed Cuts Rates*
Tuesday December 11, 4:44 pm ET
By Joe Bel Bruno, AP Business Writer
*Stocks Fall Sharply After Fed Cuts Rates; Investors Hoped for Bigger Moves From Central Bank*

NEW YORK (AP) -- Wall Street plunged Tuesday after the Federal Reserve lowered interest rates by a quarter point, disappointing investors who hoped the central bank would move more aggressively to help the economy overcome the credit and mortgage crisis. The Dow Jones industrial average skidded more than 290 points.

Investors had been expecting policymakers would lower rates for a third straight time, though there was debate over the size of the cut. Most economists anticipated a quarter-point reduction in the benchmark federal funds rate to 4.25 percent -- but some investors were hoping for a half-point cut from the Fed's final meeting this year, and their disappointment took the market sharply lower.

Wall Street had barreled higher the past two weeks, propelling the Dow up 640 points partly on rising optimism that the Fed would do all it could to prevent the economy from slipping into recession. While the Fed indicated Tuesday it was doing exactly that, the market's expectations had run well ahead of the central bank's view of the economy and what it needed.

Fed officials did signal that further cuts are possible if a severe downturn in housing and a crisis in mortgage lending worsen, but that was not enough to assuage the market.

Moreover, the central bank did note that the economy has suffered. The statement accompanying the Fed's decision said "information suggests that economic growth is slowing," and removed language from prior statements stating that risks to the economy are balanced. But the Fed seemed to stand firm on a quarter-point cut for now.

"Expectations may have been for a more meaningful move based on the swirl in the financial markets. But the Fed is acknowledging that maybe things on Main Street aren't as bad as they are on Wall Street," said Bill Knapp, economist and chief investment strategist for MainStay Investments, a division of New York Life Investment Management.

According to preliminary calculations, the Dow fell 294.26, or 2.14 percent, to 13,432.77 after dropping as much as 313.29.

Broader indexes also fell. The Standard & Poor's 500 index fell 38.31, or 2.53 percent, to 1,477.65, and the Nasdaq composite index fell 66.60, or 2.45 percent, to 2,652.35.

Declining issues outpaced advancers by more than 5 to 1 on the New York Stock Exchange, where volume came to 1.55 billion shares compared with 1.17 billion shares traded Monday.

Bond prices rose sharply. The 10-year Treasury note's yield, which moves opposite the price, fell to 3.98 percent from 4.16 percent late Monday. Gold prices fell while the dollar was mixed against other major currencies.

Oil prices rose, but came off of earlier highs after the Fed's decision. Investors had hoped a deeper cut would help spur the U.S. economy and drive demand from the world's biggest consumer of oil. Light, sweet crude for January delivery rose $2.16 to settle at $90.02 per barrel on the New York Mercantile Exchange.

"Time will tell if this restores enough confidence in the system. They're saying that this with the other cuts that we have done should promote growth over time. It's a telegraph that we think this is a sufficient move to alleviate the stresses on the market," Knapp said.

He said also that a half-point cut in the fed funds rate could have stirred fears of inflation, a primary concern for the Fed. But he said the Fed "didn't go as far as they should have," in lowering the discount rate.

The Fed uses the so-called discount window to lend directly to banks in order to quickly inject liquidity directly into the banking system -- essentially greasing the wheel themselves to prevent the credit markets from freezing up.

The Fed's rate decision and Wall Street's disappointment followed further word of trouble in the banking sector. Washington Mutual Inc. became the latest lender to resort to a massive stock sale to shore up its finances. WaMu's plan to sell $2.5 billion worth of convertible preferred stock follows a move by Switzerland-based UBS AG to sell $11.5 billion in shares to Singapore's sovereign wealth fund and an unidentified Middle Eastern investor.

Some of the market's recent concern has stemmed from recent problems at global banks, including Washington Mutual, said MF Global fixed income analyst Jessica Hoversen.

"Sovereign wealth funds are trying to bail out the financial sector, but they're coming in at vulture prices," she said. "That I think is a big issue for the market. While they want to believe there is still value in the financial sector, we've come a long way down."

Washington Mutual shares fell $2.46, or 12.4 percent, to $17.42 after the nation's largest savings and loan also said it will close offices, lay off more than 3,000 workers, and slash its dividend. The bank also set aside up to $1.6 billion for loan losses in the fourth quarter.

In other corporate news, Citigroup Inc. named Vikram Pandit, the head of its investment banking business, as its chief executive officer, charging him with restoring the bank's profitability and reputation after missteps in lending and investing left Citi with billions of dollars in losses this year. Citi fell $1.54, or 4.4 percent, to $33.23.

General Electric Co., which like Citigroup is one of the 30 stocks that make up the Dow industrials, issued a 2008 forecast that disappointed investors. The conglomerate, whose businesses range from aircraft engines to the NBC television network, sees earnings of $2.42 per share and revenue of $195 million. GE fell 38 cents to $37.03.

AT&T Inc. rose $1.56, or 4.1 percent, to $39.46 after the telecommunications company said it would buy back 400 million shares and raise its dividend 12.7 percent. The buyback represents about 7 percent of the company's stock and will be completed by the end of 2009.

The Russell 2000 index of smaller companies fell 24.93, or 3.15 percent, to 766.27.

Overseas, Japan's Nikkei stock average closed up 0.76 percent, while Hong Kong's Hang Seng index added 2.55 percent. Britain's FTSE 100 fell 0.43 percent, Germany's DAX index shed 0.30 percent, and France's CAC-40 dropped 0.45 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +41.13 points	+0.31% on Wednesday December 12:

According to preliminary calculations, the Dow rose 41.13, or 0.31 percent, to 13,473.90. The blue-chip index had risen as much as 271.75 in early trading; and was down by as much as 111 points.


Sym Last........ ........Change..........
Dow	13,473.90	+41.13	+0.31%
Nasdaq	2,671.14	+18.79	+0.71%
S&P 500	1,486.59	+8.94	+0.61%
30-yr Bond	4.5310%	+0.0490

NYSE Volume	4,394,639,500
Nasdaq Volume	2,312,360,250

*Overseas*
Japan's Nikkei stock average closed down 0.70 percent, while Hong Kong's Hang Seng index closed down 2.41 percent. 

Britain's FTSE 100 rose 0.35 percent, Germany's DAX index added 0.83 percent, and France's CAC-40 advanced 0.32 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,559.80	+22.90	+0.35%
DAX	8,076.12	+66.70	+0.83%
CAC 40	5,743.32	+18.56	+0.32%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	15,932.26	-112.46	0.70%
Hang Seng	28,521.06	-705.78	-2.41%
Straits Times	3,549.25	-39.78	-1.00%


http://biz.yahoo.com/ap/071212/wall_street.html
*Stocks Erase Sharp Gains Sparked by Fed*
Wednesday December 12, 4:28 pm ET
By Joe Bel Bruno, AP Business Writer
*Stocks Give Up Sharp Gains on Fed Plan to Work With Other Central Banks on Credit*

NEW YORK (AP) -- Wall Street finished only slightly higher in an erratic session on Wednesday as investors remained unconvinced by a Federal Reserve plan to work with other central banks to alleviate the global credit crisis.

Investors erased a 272-point gain in the Dow Jones industrial average that followed the Fed's announcement of an agreement with the European Central Bank and the central banks of England, Canada and Switzerland to confront what it called elevated pressures in the credit markets. The Fed said it will create a temporary auction facility to make funds available to banks and set up lines of credit with the European and Swiss central banks for additional resources.

This move is the biggest concerted liquidity injection since the aftermath of the 2001 terrorist attacks and helped boost investor sentiment a day after the Fed disappointed Wall Street with a quarter-point cut in interest rates. Many investors had hoped for a half-point reduction to help the economy weather the credit and mortgage crises.

But the Fed's latest salvo didn't appear to assuage all of Wall Street's concerns about the spike in bad debt that has caused the credit markets to tighten in recent months, nor did it sew up all of investors' concerns about the nation's economic health.

"There's still no certainty that we're out of the woods ... there's still a risk for recession," said Steven Goldman, chief market strategist at Weeden & Co. "We did get very positive news from the Fed and other banks chipping in to add liquidity into the system. But, the environment hasn't fundamentally changed that the worst is over for the financial system."

He pointed out that the biggest beneficiaries during a period of rate cuts are bank and brokerage stocks. However, the sector was under pressure Wednesday as investors worried the institutions will take further writedowns after warnings from Bank of America Corp., Wachovia Corp. and PNC Financial Services Group Inc.

According to preliminary calculations, the Dow rose 41.13, or 0.31 percent, to 13,473.90. The blue-chip index had risen as much as 271.75 in early trading; and was down by as much as 111 points.

Broader stock indicators were also higher. The Standard & Poor's 500 index rose 8.94, or 0.61 percent, to 1,486.59. The Nasdaq composite index rose 18.79, or 0.71 percent, to 2,671.14.

Tuesday's stock plunge of 294 points had interrupted Wall Street's attempt at an end-of-the-year rally, but Wednesday's performance brought the possibility of a market recovery back to the table. The Dow is up more than 6 percent since falling as low as 12,724.09 on Nov. 26.

But analysts were still enthusiastic about the Fed's action on Wednesday.

"I think it's certainly a strong measure to ease this credit crunch, and I think it will encourage banks to use the discounted borrowing. If banks won't lend to each other, then at least the central banks will lend to them," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago.

The plan sent Treasury prices falling, because the prospect of more available credit lessened investors' need for the safe haven that government securities provide. The 10-year Treasury note's yield, which moves opposite the price, rose to 4.08 percent from 3.97 percent late Tuesday.

The dollar was mixed against other major currencies. Gold prices rose.

Investors also digested economic data. The Commerce Department said the U.S. trade deficit rose in October to the loftiest level in three months, driven by record-high oil prices and an influx of Chinese imports. It also reported that November import prices surged.

If inflation accelerates, it could keep the Fed from lowering rates again.

Energy prices soared after the government reported surprising declines in U.S. stockpiles of crude oil, and surged even further after reports of a fire at an ExxonMobil Corp. refinery in Texas. A barrel of light sweet crude jumped $4.37 to $94.39 a barrel on the New York Mercantile Exchange.

ExxonMobil shares rose $1.64 to $91.92.

In other corporate news, Wachovia doubled its estimate of loan loss provisions to about $1 billion for the fourth quarter, while BofA pointed to higher writedowns and said he expects current credit market turbulence to extend into 2008. PNC said the money it will set aside to cover bad loans for the last three months of the year will be more than twice as large as in the third quarter.

Shares of Wachovia fell $3.38 to $40.53, while Bank of America dropped $1.22, or 2.7 percent, to $43.43. PNC fell $3.55, or 2.5 percent, to $68.24.

SLM Corp., the student loan company known as Sallie Mae, slashed its 2008 earnings due to the costs of replacing an interim funding facility. The company also disclosed it failed to renegotiate a buyout with an investor group that balked several months ago at its original $25 billion cash offer.

SLM shares fell $3.45, or 10.8 percent, to $28.49.

But AT&T Inc. climbed for the second-straight session after the telecom carrier issued solid guidance and lifted its dividend. AT&T was the biggest gainer among the 30 Dow companies, rising $2.25, or 5.7 percent, to $41.71.

The Russell 2000 index rose 5.44, or 0.71 percent, to 771.71.

Advancing issues led decliners by a 4 to 3 basis on the New York Stock Exchange. Volume came to 1.59 billion shares.

Overseas, Japan's Nikkei stock average closed down 0.70 percent, while Hong Kong's Hang Seng index closed down 2.41 percent. Britain's FTSE 100 rose 0.35 percent, Germany's DAX index added 0.83 percent, and France's CAC-40 advanced 0.32 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +44.06 points	+0.33% on Thurssday December 13:

Sym Last........ ........Change..........
Dow	13,517.96	+44.06	+0.33%
Nasdaq	2,668.49	-2.65	-0.10%
S&P 500	1,488.41	+1.82	+0.12%
30-yr Bond	4.6110%	+0.0800

NYSE Volume	3,544,072,250
Nasdaq Volume	2,143,834,500

*Overseas*
Concerns about the effectiveness of central banks' plans to loosen the world's credit markets weighed on stock markets abroad. 

Britain's FTSE 100 fell 2.98 percent, Germany's DAX index lost 1.83 percent, and France's CAC-40 fell 2.65 percent. 

In Asia, Japan's Nikkei stock average lost 2.48 percent on the day.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,364.20	-195.60	-2.98%
DAX	7,928.31	-147.81	-1.83%
CAC 40	5,590.91 -152.41 -2.65%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	15,536.52	-395.74	-2.48%
Hang Seng	27,744.45	-776.61	-2.72%
Straits Times	3,479.31	-69.94	-1.97%

http://biz.yahoo.com/ap/071213/wall_street.html
Stocks Slide After Wholesale Prices Jump
Thursday December 13, 4:21 pm ET
By Tim Paradis, AP Business Writer
Stocks Trade Mixed After Jump in Wholesale Prices, Strong Increase in November Retail Sales

NEW YORK (AP) -- Stocks finished mixed in another volatile session Thursday after a spike in wholesale prices touched off inflation concerns and partially overshadowed a strong increase in retail sales last month.

Despite the uneven economic news, a strong forecast by Honeywell International Inc. propped up the Dow Jones industrial average.

Wall Street, which has this week paid close attention to steps by the Federal Reserve to stoke greater movement in moribund credit markets, again looked to fresh economic data for signals about the health of the economy.

In one unwelcome development, prices at the wholesale level jumped 3.2 percent in November -- their biggest increase in 34 years -- after a steep rise in wholesale gasoline prices. The news wasn't all bad, however. The Commerce Department said retail sales rose in November by the largest amount in six months, and a Labor Department report showed a drop in new claims filed by those seeking jobless benefits.

The modest movement on Wall Street came a day after stocks rose, but finished well off their highs, as investors examined the Fed's agreement with the European Central Bank and the central banks of England, Canada and Switzerland to combat what it described as elevated pressures in the credit markets.

Scott Fullman, director of investment strategy for I. A. Englander & Co., said investors struggled with the day's economic readings as well as the Fed's actions.

"It's definitely a mixed picture. People are still digesting what came from the Fed. You put this all together and it gives you a healthy dose of volatility," he said. "I really don't think anybody is saying 'I'm very confident to get into this market.'"

According to preliminary calculations, the Dow Jones industrial average rose 44.06, or 0.33 percent, to 13,517.96, after being down more than 100 points earlier.

Broader stock indicators were mixed. The Standard & Poor's 500 index edged up 1.82, or 0.12 percent, to 1,488.41, while the Nasdaq composite index declined 2.65, or 0.10 percent, to 2,668.49.

Declining issues outnumbered advancers by more than 2 to 1 on the New York Stock Exchange, where volume came to 1.29 billion shares.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, jumped to 4.19 percent from 4.06 percent late Wednesday. The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude for January delivery fell $2.14 to settle at $92.25 a barrel on the New York Mercantile Exchange.

The mixed economic readings came in a week already made busy by the Fed's decision Tuesday to lower interest rates for the third time this year and its announcement a day later of the liquidity plan. Investors since have been debating the effectiveness of the measures.

A slowdown in the housing market remains a concern for Wall Street, as do spiking mortgage defaults that have made banks hesitant to lend to one another amid uncertainty about who might be holding bad debt. The Fed's actions are aimed at easing the logjam.

The producer price index, which measures inflation at the wholesale level, rose 3.2 percent in November, according to the Labor Department. But excluding the often volatile food and energy sectors, inflation rose by 0.4 percent. While the Fed generally looks at inflation figures excluding food and energy costs, a sharp rise in overall inflation could make it harder for the central bank to continue cutting interest rates.

And retail sales jumped 1.2 percent in November, double the increase economists had expected. In October, the increase had been a much weaker 0.2 percent.

In corporate news, Honeywell gained after forecasting 16 percent to 21 percent growth in earnings per share for 2008. Analysts polled by Thomson Financial had been expecting 17 percent growth. Honeywell, one of the 30 stocks that comprise the Dow industrials, rose $3.91, or 5 percent, to $60.65.

JetBlue Airways Corp. jumped 90 cents, or 14.4 percent to $7.15 after German airline Deutsche Lufthansa AG said it plans to pay $300 million for a 19 percent stake in JetBlue.

Dow Chemical Co. rose $2.64, or 6.3 percent, to $44.329 after agreeing to sell a 50 percent stake in five of its global businesses to a Kuwaiti company for about $9.5 billion to form a joint petrochemicals venture.

The Russell 2000 index of smaller companies fell 2.25, or 0.29 percent, to 769.46.

Concerns about the effectiveness of central banks' plans to loosen the world's credit markets weighed on stock markets abroad. Britain's FTSE 100 fell 2.98 percent, Germany's DAX index lost 1.83 percent, and France's CAC-40 fell 2.65 percent. In Asia, Japan's Nikkei stock average lost 2.48 percent on the day.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by -178.11 points -1.32% on Friday December 14:

Sym Last........ ........Change..........
Dow	13,339.85	-178.11	-1.32%
Nasdaq	2,635.74	-32.75	-1.23%
S&P 500	1,467.95	-20.46	-1.37%
10 Yr Bond(%)	4.2320%	+0.0620

*Overseas*
Japan's Nikkei stock average slipped 0.14 percent. 

Britain's FTSE 100 rose 0.52 percent, Germany's DAX index rose 0.25 percent and France's CAC-40 rose 0.26 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,397.00	+32.80	+0.52%
DAX	7,948.36	+20.05	+0.25%
CAC 40	5,605.36 +14.45 +0.26%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	15,514.51	-22.01	-0.14%
Hang Seng	27,563.64	-180.81	-0.65%
Straits Times	3,466.38	-12.93	-0.37%

http://biz.yahoo.com/ap/071214/wall_street.html
Wall Street Sells Off on Inflation Fears
Friday December 14, 5:09 pm ET
By Tim Paradis, AP Business Writer
Stocks Fall on Inflation Report; Investors Worry Rising Prices Could Restrict Fed's Options

NEW YORK (AP) -- Stocks finished a bruising week on the downside Friday after a jump in consumer inflation raised concerns about how much freedom the Federal Reserve has to continue cutting interest rates. The Dow Jones industrial average gave up more than 178 points.

Concerns emerged after the Labor Department reported its consumer price index had a bigger-than-expected jump for November, with large increases in the cost of clothing, airline tickets and prescription drugs. That raised questions about the Fed's options for priming the economy.

Policymakers this week lowered interest rates and announced a plan to align with other key central banks and offer loans to pressed lenders around the world. But while it wants to stimulate the U.S. economy and make lending easier among banks wary of faltering debt, the Fed also has to keep a watchful eye on inflation.

Robert Dye, senior economist at PNC Financial Services Group, said the economic readings this week painted a mixed picture for investors, spurring some of the market's volatility.

"If you take the stronger-than-expected economic data we saw this week in the form of retail sales and add to that the inflation data and then combine that with a somewhat ambiguous statement from the Fed, you get a picture as clear as mud," he said.

The uncertainty weighed on the markets Friday, a day after stocks finished mixed. The Dow Jones industrial average fell 178.11, or 1.32 percent, to 13,339.85.

Broader stock indicators also fell. The Standard & Poor's 500 index dropped 20.46, or 1.37 percent, to 1,467.95, and the Nasdaq composite index fell 32.75, or 1.23 percent, to 2,635.74.

It resulted in Wall Street's worst weekly showing in a month. For the week, the Dow tumbled 2.10 percent, while the S&P 500 declined 2.44 percent and the Nasdaq shed 2.60 percent.

Bond prices fell for the third straight day. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 4.23 percent from 4.21 percent late Thursday. The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude dropped 98 cents to $91.27 per barrel on the New York Mercantile Exchange.

Friday's report on inflation follows a reading Thursday that showed the biggest jump in inflation at the wholesale level in 34 years.

The 0.8 percent increase in consumer prices topped the 0.6 percent rise economists had been expecting. The report also showed so-called core inflation, which excludes often-volatile food and energy prices, had its biggest increase in 10 months, rising 0.3 percent.

Dye said the Fed could be proven wise for cutting interest rates by just a quarter of a percentage point Tuesday rather than by a half point as some investors had hoped. Stocks fell sharply Tuesday after the Fed's rate decision and staged a partial rebound Wednesday after the Fed announced its liquidity plan with other central banks.

The uptick in core inflation is unnerving, Dye said, because it makes it harder for the Fed to justify further rate cuts.

Also Friday, the Federal Reserve said industrial production rebounded in November, increasing 0.3 percent after a steep 0.7 percent decline in October. The increase came in slightly ahead of Wall Street's expectations.

But beyond economic reports, investors faced more news from the troubled banking sector.

Citigroup Inc. fell 31 cents to $30.70 after the bank announced late Thursday it plans to move $49 billion of assets from seven "structured investment vehicles" onto its books to help the SIVs repay their debts.

The bank had said earlier it had no plans to bring the SIVs onto its books. Citigroup's Vikram Pandit, who on Tuesday became chief executive, said taking control of the SIVs was the best way to guard their credit ratings and help them sell their investments at decent prices.

SIVs are complex investments set up by banks and sold to investors and have come under pressure in recent months because of their investment strategy, which involves the use of mortgage investments and other now-risky debt. The resulting drop in demand hurt the value of the SIVs.

Declining issues outnumbered advancers by more than 2 to 1 on the New York Stock Exchange, where volume came to 1.12 billion shares.

The Russell 2000 index of smaller companies fell 15.53, or 2.02 percent, to 753.93.

Overseas, Japan's Nikkei stock average slipped 0.14 percent. Britain's FTSE 100 rose 0.52 percent, Germany's DAX index rose 0.25 percent and France's CAC-40 rose 0.26 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## Lucky_Country

Well world markets looking shaky US inflation and subprime dragging the markets lower which is having a knock on effect around the globe.
China and India may save AUS but AUS shares maybe sold down too cover losses in the US.
2008 a year of high risk imo


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by -172.65 points	-1.29% on Monday December 17:

Sym Last........ ........Change..........
Dow	13,167.20	-172.65	-1.29%
Nasdaq	2,574.46	-61.28	-2.32%
S&P 500	1,445.90	-22.05	-1.50%
30-yr Bond	4.6240%	-0.0340
\
NYSE Volume	3,498,825,500
Nasdaq Volume	1,873,100,250

*Overseas*
Japan's Nikkei stock average fell 1.71 percent, and Hong Kong's Hang Seng index fell 3.51 percent. 

Britain's FTSE 100 dropped 1.86 percent, Germany's DAX index lost 1.55 percent, and France's CAC-40 declined 1.61 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,277.80	-119.20	-1.86%
DAX	7,825.44	-122.92	-1.55%
CAC 40 5,514.88 -90.48 -1.61%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	15,249.79	-264.72	-1.71%
Hang Seng	26,596.58	-967.06	-3.51%
Straits Times	3,353.56	-112.82	-3.25%

http://biz.yahoo.com/ap/071217/wall_street.html
*Stocks Fall Amid Economic Worries*
Monday December 17, 4:25 pm ET
By Madlen Read, AP Business Writer
*Wall Street Declines As Fed Auctions $20 Billion in Credit, Greenspan Warns of Stagflation*

NEW YORK (AP) -- Wall Street extended last week's losses Monday as investors remained concerned about flagging growth and rising prices, and were skeptical that a special Federal Reserve credit auction will be a solution.

The Dow Jones industrial average fell nearly 175 points and all the major indexes lost at least 1 percent.

The Fed offered $20 billion in 28-day credit through an auction Monday. The central bank will not release the results until Wednesday, but the aim of the auction is to encourage commercial banks to borrow from the Fed. That, in turn, is designed to boost banks' lending to businesses and consumers and keep the economy humming.

Last week, the Fed disappointed investors when it cut interest rates by only a quarter of a percentage point, which was less than some analysts expected. Wall Street is pleased that policy makers say they will keep trying to lift market confidence, which has dwindled since home foreclosures started soaring, but the market is so far unconvinced that the auction will be enough.

A speech Sunday night by former Fed Chairman Alan Greenspan added to the market's ill humor. Greenspan said "stagflation" -- when inflation accelerates and the economy weakens -- is a growing possibility, given last week's data showing spiking consumer prices. With inflation on the rise, the Fed, which has reduced the target federal funds rate three times since the summer, might feel less inclined to lower rates again.

Higher inflation is also a problem for consumers, especially during the holiday season. With only a week left until Christmas, sales data has suggested tepid spending by Americans, who are struggling with higher food and energy costs and tumbling home values.

"The consumer is two-thirds of our economy. The consumer holds the key to whether we have a recession in 2008," said Alfred E. Goldman, chief market strategist at A.G. Edwards & Sons Inc. in St. Louis.

According to preliminary calculations, the Dow fell 172.65, or 1.29 percent, to 13,167.20, finishing at its low of the session.

Broader stock indicators also declined. The Standard & Poor's 500 index dropped 22.05, or 1.50 percent, to 1,445.90, and the Nasdaq composite index fell 61.28, or 2.32 percent, to 2,574.46.

Peter Cardillo, chief market economist at Avalon Partners Inc., said the market is volatile ahead of Friday's "quadruple witching," a quarterly occurrence during which contracts expire for stock index futures, stock index options, stock options and single stock futures.

The expirations magnified Wall Street's mood, which has been downbeat because of uncertainty in the market about the effectiveness of the Fed's actions and the overall economy. "It's going to be a bumpy ride from here till the end of the year," Cardillo said.

President Bush in a speech on Monday said "there's definitely some storm clouds and concern" because of the nation's credit crunch and mortgage problems.

Last week, the Dow dropped 2.10 percent, the S&P 500 fell 2.44 percent, and the Nasdaq lost 2.60 percent.

Government bond prices rose as stocks fell. The yield on the 10-year Treasury note, which moves opposite its price, slipped to 4.19 percent from 4.24 percent late Friday.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude futures fell 64 cents to settle at $90.63 a barrel on the New York Mercantile Exchange.

In economic data, the U.S. government said the current account deficit, the broadest measure of international trade, narrowed in the third quarter compared with the second quarter, as expected, to the lowest level in two years.

The New York Fed's Empire State Manufacturing Index fell more sharply in December than economists anticipated, while the National Association of Home Builders said its housing market index held steady in November at its lowest level since it started the index in 1985.

Wall Street started 2007 soaring due to strong merger-and-acquisition activity but found little consolation in deal-making Monday.

Diversified manufacturer Ingersoll-Rand Co. said it will buy air conditioner maker Trane Inc. for $10.1 billion. Ingersoll-Rand shares fell $5.58, or 11.4 percent, to $43.60, Trane surged $8.04, or 21.6 percent, to $45.24.

Meanwhile, Aon Corp. said it will sell two insurance units for $2.75 billion in separate cash deals, and the conglomerate Loews Corp. said its board approved a spinoff of cigarette maker Lorillard Inc.

Aon rose 46 cents to $49.40.

Loews rose $1.14, or 2.4 percent, to $47.94.

And National Oilwell Varco Inc. said it is buying a smaller Houston-based oil drilling equipment maker, Grant Prideco Inc., for $7.37 billion.

National Oilwell fell $6.68, or 8.6 percent, to $70.69. Grant Prideco rose $6.45, or 13.6 percent, to $53.91.

Declining issues outnumbered advancers by about 4-to-1 on the New York Stock Exchange, where volume came to 1.44 billion shares compared with 1.12 billion shares traded Friday.

Overseas, Japan's Nikkei stock average fell 1.71 percent, and Hong Kong's Hang Seng index fell 3.51 percent. Britain's FTSE 100 dropped 1.86 percent, Germany's DAX index lost 1.55 percent, and France's CAC-40 declined 1.61 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +105.26 points	+0.80% on Tuesday December 18 :

Sym Last........ ........Change..........
Dow	13,272.46	+105.26	+0.80%
Nasdaq	2,603.54	+29.08	+1.13%
S&P 500	1,459.38	+13.48	+0.93%
30-yr Bond	4.5430%	-0.0810

NYSE Volume	3,723,687,000
Nasdaq Volume	2,038,325,500

*Overseas*
Japan's Nikkei stock average fell 0.27 percent, and Hong Kong's Hang Seng index rose 0.51 percent. 

Britain's FTSE 100 rose 0.02 percent, Germany's DAX index rose 0.32 percent and France's CAC-40 fell 0.10 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 6,277.80 -119.20 -1.86%
DAX 7,825.44 -122.92 -1.55%
CAC 40 5,514.88 -90.48 -1.61%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	15,207.86	-41.93	-0.27%
Hang Seng	26,732.87	+136.29	+0.51%
Straits Times	3,369.31	+15.75	+0.47%

http://biz.yahoo.com/ap/071218/wall_street.html
*Stocks Get a Boost From ECB Move*
Tuesday December 18, 5:22 pm ET
By Madlen Read, AP Business Writer
*Stocks Rise in Volatile Trading As ECB Lends $500B; Goldman, Best Buy Post Gains*

NEW YORK (AP) -- Stocks rose Tuesday after investors found solace in the European Central Bank's $500 billion loan issuance, but the possibility of recession in 2008 made for a back-and-forth session.

The ECB's massive 16-day tender supported the idea that the world's central banks are working to revive demand in struggling areas of the credit market. The Bank of England also said it will offer additional reserves to lenders Tuesday, after the U.S. Federal Reserve on Monday auctioned off $20 billion in 28-day credit.

Few are calling the end of the credit crunch just yet, though, and the market's seesaw movements on Tuesday reflected its uncertainty. Alongside U.S. government data showing that new home construction dropped in November to its lowest rate in more than 16 years, the central banks' actions had a hard time galvanizing a market that remains anxious that the economy has further to fall.

"It's very disconcerting that we're getting central bank interventions for a problem that many were hoping would be a self-contained one," said Joseph V. Battipaglia, chief investment officer at Ryan Beck & Co.

Meanwhile, cautious comments from Goldman Sachs Group Inc. and Best Buy Co. dampened some of the market's enthusiasm over the companies' better-than-expected quarterly earnings.

"The credit issues, the liquidity issues, are still there," said Ryan Detrick, strategist at Schaeffer's Investment Research. "There's a dark cloud over the market."

But after several sessions of declines, the Dow Jones industrial average rose 65.27, or 0.50 percent, to 13,232.47, after gaining as many as 112 points, falling by 75 points, and then rebounding.

The blue chip index had lost 4 percent over the past week since the Fed's decision last Tuesday to lower interest rates by a quarter point, which was less than many investors hoped.

Broader stock indicators also bounced back from a midday slump. The Standard & Poor's 500 index rose 9.08, or 0.63 percent, to 1,454.98, and the Nasdaq composite index rose 21.57, or 0.84 percent, to 2,596.03.

Each of the three major stock indexes on Monday lost at least 1 percent due to concerns that prices could keep rising despite a weakening economy -- a phenomenon called stagflation. Stocks have also been volatile due to the upcoming "quadruple witching" on Friday, when contracts expire for stock index futures, stock index options, stock options and single stock futures.

Government bonds rose Tuesday. The yield on the 10-year Treasury note, which moves opposite its price, slipped to 4.12 percent from 4.15 percent late Monday.

Goldman fell $7.12, or 3.4 percent, to $201.51 after releasing its earnings report, which showed a 2 percent profit gain but uneven results across the investment bank's various units.

Best Buy rose 48 cents to $51.62 after the electronics retailer posted a 52-percent profit gain. However, the company issued a forecast that came in below analysts' expectations.

The Commerce Department said housing starts and building permits fell last month compared with October, bolstering investors' belief that the economy will continue to feel the housing market's drag in the new year. Housing starts fell 3.7 percent to the lowest level in more than 16 years, while building permits fell 1.5 percent to the lowest in more than 14 years.

The Fed revealed a plan Tuesday to give people taking out mortgages new protections against questionable lending practices -- particularly to subprime borrowers, whose inability to keep up with their loan payments has led to this year's spike in foreclosures and credit crunch.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where volume came to 1.49 billion shares compared with 1.44 billion traded Monday.

The Russell 2000 index of smaller companies rose 15.00, or 2.03 percent, to 754.06.

The dollar was mixed against other major currencies, while gold prices advanced.

Light, sweet crude fell 14 cents to $90.49 a barrel on the New York Mercantile Exchange.

Overseas, Japan's Nikkei stock average fell 0.27 percent, and Hong Kong's Hang Seng index rose 0.51 percent. Britain's FTSE 100 rose 0.02 percent, Germany's DAX index rose 0.32 percent and France's CAC-40 fell 0.10 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by -25.20 points	-0.19% on Wednessday December 19 :

Sym Last........ ........Change..........
Dow	13,207.27	-25.20	-0.19%
Nasdaq	2,601.01	+4.98	+0.19%
S&P 500	1,453.00	-1.98	-0.14%
30-yr Bond	4.4940%	-0.0490

NYSE Volume	3,327,264,250
Nasdaq Volume	1,807,425,375

*Overseas*
Japan's Nikkei stock average fell 1.17 percent, and Hong Kong's Hang Seng index rose 1.11 percent. 

Britain's FTSE 100 rose 0.08 percent, Germany's DAX index fell 0.17 percent and France's CAC-40 fell 0.22 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,284.50	+5.20	+0.08%
DAX	7,837.32	-13.42	-0.17%
CAC 40	5,497.42 -11.95 -0.22%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	15,030.51	-177.35	1.17%
Hang Seng	27,029.26	+296.39	+1.11%
Straits Times	3,357.34	-11.97	-0.36%

http://biz.yahoo.com/ap/071219/wall_street.html
*Stocks Finish Mixed on Credit Worries*
Wednesday December 19, 4:29 pm ET
By Madlen Read, AP Business Writer
*Wall Street Finishes Volatile Session in Mixed Range Amid Renewed Credit Market Concerns*

NEW YORK (AP) -- Wall Street ended a volatile session mixed Wednesday as investors wrestled with a troubling outlook for bond insurers, a $9.4 billion writedown at Morgan Stanley and a weakening economy that many believe is headed for recession.

Not all of Wednesday's news was bad. Morgan Stanley managed to get a $5 billion investment from a Chinese sovereign wealth fund, and the Federal Reserve said its Monday auction of $20 billion in 28-day credit was met with solid demand -- signs that there is cash out there to help the struggling banking industry recover.

But with only six trading days left in 2007 and little data to convince Wall Street that the economy is on the upswing, investors hesitated to make any big bets on stocks.

"The sign that the selling is over is when bad news doesn't make stocks go down anymore," said Matt Kelmon, portfolio manager of the Kelmoore Strategy Funds. He said there's particular pressure on stocks right now because of options expirations at the end of the week, plus the tendency to sell off weak stocks at the end of the year to offset taxes on stocks with big gains.

Stocks reversed direction several times during the session.

The stock market lifted in early trading but gave back gains after Standard & Poor's lowered its outlook for bond insurers, suggesting that the ratings on the bonds the companies insure may be headed lower.

S&P slashed the credit rating of ACA Financial Guaranty Corp., and put Financial Guaranty Insurance Co., another bond insurer, on watch for a downgrade. The agency maintained the ratings on Ambac Financial Group Inc., MBIA Insurance Corp. and XL Capital Assurance Inc., but gave the bond insurers negative outlooks -- meaning there is a one-third chance of a ratings cut for those companies in the next two years.

According to preliminary calculations, the Dow Jones industrial average fell 25.20, or 0.19 percent, to 13,207.27.

The Standard & Poor's 500 index fell 1.98, or 0.14 percent, to 1,453.00, but the Nasdaq composite index added 4.98, or 0.19 percent, to 2,601.01.

Treasury bond prices rose on S&P's outlook for bond insurers, as investors sought the safety of government securities. The yield on the 10-year Treasury note, which moves opposite the price, fell to 4.03 percent from 4.12 percent late Tuesday.

Morgan Stanley rose $2.01, or 4.2 percent, to $50.08 after announcing the $5 billion China investment on Wednesday.

The deal represents China's largest minority stake purchase in a U.S. company, said Thomson Financial analyst Richard J. Peterson. The U.S. markets, though still distressed, are increasingly finding buyers in governments overseas. Recently, Citigroup Inc. sold $7.5 billion worth of shares to the Abu Dhabi Investment Authority.

"We're not running into any brick walls," said Edward Yardeni, an economist who runs Yardeni Research in Great Neck, N.Y. "Doors are opening to make this process continue relatively smoothly."

Central banks also have been working to help bring demand back to the tight credit markets, which froze up over the summer as mortgage defaults spiked. Investors were relieved to see that about one in three U.S. banks who applied for the $20 billion in 28-day credit the Federal Reserve offered Monday received a loan, according to results announced Wednesday.

The Fed is conducting a similar auction Thursday as part of its continuing effort to pump liquidity into the financial system.

On Tuesday, stocks finished higher on relief that the European Central Bank was willing to issue half a trillion dollars in 16-day loans to banks, but it was a volatile, back-and-forth session due to concerns about the prospect of a U.S. recession next year.

Earnings reports were, for the most part, disappointing.

General Mills Inc. said profit in the most recent quarter edged higher, but the cereal and packaged food maker's results were damped by soaring ingredient costs and other expenses. General Mills fell $1.08 to $57.99.

Palm Inc., the maker of the Treo and Centro smart phones, said late Tuesday it swung to a loss in the most recent quarter. Its shares dropped 41 cents, or 6.9 percent, to $5.52.

Hovnanian Enterprises Inc. also posted a quarterly loss late Tuesday after facing a difficult housing market in the fourth quarter. The homebuilder's shares fell 96 cents, or 11.4 percent, to $7.44.

RealtyTrac Inc., a mortgage research firm, said Wednesday that foreclosure filings nationwide fell in November compared to October, but were a whopping 68 percent higher than a year ago.

The dollar rose against most other major currencies. Gold prices rose.

Light, sweet crude futures gained $1.16 to settle at $91.24 a barrel on the New York Mercantile Exchange after the Energy Department said U.S. inventories of crude and heating oil dropped last week while gasoline stockpiles rose.

Declining issues outnumbered advancers by about 9 to 7 on the New York Stock Exchange, where volume came to 1.35 billion shares, compared with 1.49 billion shares traded Tuesday.

The Russell 2000 index of smaller companies rose 2.07, or 0.27 percent, to 756.13.

Overseas, Japan's Nikkei stock average fell 1.17 percent, and Hong Kong's Hang Seng index rose 1.11 percent. Britain's FTSE 100 rose 0.08 percent, Germany's DAX index fell 0.17 percent and France's CAC-40 fell 0.22 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +38.37 points	+0.29% on Thursday December 20 :

Sym Last........ ........Change..........
Dow	13,245.64	+38.37	+0.29%
Nasdaq	2,640.86	+39.85	+1.53%
S&P 500	1,460.12	+7.12	+0.49%
30-yr Bond	4.4480%	-0.0460

NYSE Volume	3,494,632,250
Nasdaq Volume	2,014,834,380

Overseas
Japan's Nikkei stock average rose 0.01 percent, and Hong Kong's Hang Seng index slipped 0.05 percent. 

Britain's FTSE 100 rose 0.97 percent, Germany's DAX index rose 0.41 percent and France's CAC-40 rose 0.26 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,345.60	+61.10	+0.97%
DAX	7,869.19	+31.87	+0.41%
CAC 40	5,511.45	+14.03	+0.26%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	15,031.60	+1.09	+0.01%
Hang Seng	27,017.09	-12.17	-0.05%
Straits Times	3,357.34	-11.97	-0.36%

http://biz.yahoo.com/ap/071220/wall_street.html
*Stocks End Up on Strong Oracle Profits*
Thursday December 20, 4:47 pm ET
By Tim Paradis, AP Business Writer
*Stocks Rise After Oracle Results Lift Nasdaq; Economic Reports Point to Slowing Economy*

NEW YORK (AP) -- Stocks finished higher Thursday as investors set aside some concerns about downbeat economic reports and focused on strong profits from Oracle Corp.

Corporate results and economic news offered investors a mixed picture and kept stocks fluctuating throughout much of the session.

Oracle Corp.'s upbeat results poked holes in Wall Street's recent pessimism, and even a report from Bear Stearns Cos. of its first-ever quarterly loss seemed to offer relief to those fearing its results could have been worse.

Economic news appeared to weigh on investors at times during the session. The Philadelphia Federal Reserve said Thursday its index of regional business conditions showed a reading of a negative 5.7, down sharply from a positive 8.2 in November.

The Fed report came after word that a gauge of future business activity fell last month to its lowest level in more than two years. The Conference Board said its index of leading indicators, which looks three to six months ahead, dropped 0.4 percent in November. The reading suggests the economy could weaken this winter and possibly into the spring amid tight credit and continued troubles in the housing sector.

But investors ultimately seemed to look beyond the economic news.

According to preliminary calculations, the Dow Jones industrial average rose 38.37, or 0.29 percent, to 13,245.64.

Broader stock indicators also rose. The Standard & Poor's 500 index advanced 7.12, 0.49 percent, to 1,460.12, and Oracle's results helped push the tech-heavy Nasdaq composite index up 39.85, or 1.53 percent, to 2,640.86.

Advancing issues outnumbered decliners by about 9 to 7 on the New York Stock Exchange, where volume came to 1.38 billion shares compared with 1.35 billion shares traded Wednesday.

The report from Bear Stearns came a day after Morgan Stanley said an investment arm of the Chinese government had agreed to invest $5 billion in the company. The news calmed some fears that Wall Street's major players would face severe liquidity crunches as banks worldwide continue to refrain from lending to each other amid concerns about souring debt tied to mortgages.

Doug Roberts, chief investment strategist at Channel Capital Research, contends the ability of banks like Morgan Stanley and earlier Citigroup Inc. to arrange cash infusions from well-healed foreign governments appeared to quiet some of Wall Street's unease.

"The Morgan Stanley announcement combined with the Citigroup announcement establishes this kind of a backstop on the financials. It's not a firm thing, but it kind of gives the shorts some room for pause," he said, referring to short-sellers. Short sellers profit by accurately predicting when stocks will fall.

He also said Oracle's results indicate that some companies will still be able post growth figures even as tight credit markets make it harder for other companies to raise capital.

The stock market's relatively quiet session follows several up-and-down weeks that have left investors trying to gauge how well the economy will fare.

While Wall Street heads toward holiday-shortened weeks that often bring little action, stocks could still see volatility, particularly given the expiration of options contracts Friday. Known as "quadruple witching," it marks the expiration of contracts for stock index futures, stock index options, stock options and single stock futures.

In corporate news, Bear Stearns rose 82 cents to $91.42 after its report that turmoil in the credit market reduced the investment bank's portfolio by $1.2 billion in the fourth quarter, leading to a hefty loss.

Oracle rose $1.34, or 6.5 percent, to $22.10 after its report.

Meanwhile, FedEx Corp. fell $1 to $93.63 after posting a 6 percent decline in quarterly earnings amid high fuel costs and a U.S. economic slowdown. The company also issued a forecast that fell below expectations.

The Russell 2000 index of smaller companies rose 11.41, or 1.51 percent, to 767.54.

Bond prices fell. The yield on the 10-year Treasury note, which moves opposite its price, rose to 4.05 percent from 4.03 percent late Wednesday.

The dollar rose against other most major currencies, while gold prices fell.

Overseas, Japan's Nikkei stock average rose 0.01 percent, and Hong Kong's Hang Seng index slipped 0.05 percent. Britain's FTSE 100 rose 0.97 percent, Germany's DAX index rose 0.41 percent and France's CAC-40 rose 0.26 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +205.01 points	+1.55% on Friday December 21 :

The Dow Jones industrial average ended the week up 110.80, or 0.83 percent, at 13,450.65. The Standard & Poor's 500 index finished up 16.51, or 1.12 percent, at 1,484.46. The Nasdaq composite index ended up 56.25, or 2.13 percent, at 2,691.99.

Sym Last........ ........Change..........
Dow	13,450.65	+205.01	+1.55%
Nasdaq	2,691.99	+51.13	+1.94%
S&P 500	1,484.46	+24.34	+1.67%
30-yr Bond	4.5750%	+0.1270

NYSE Volume	4,508,590,000
Nasdaq Volume	2,699,425,250

*Overseas*
Japan's Nikkei stock average rose 1.50 percent, and Hong Kong's Hang Seng index added 2.26 percent. 

Britain's FTSE 100 gained 1.39 percent, Germany's DAX index advanced 1.70 percent and France's CAC-40 rose 1.66 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,434.10	+88.50	+1.39%
DAX	8,002.67	+133.48	+1.70%
CAC 40	5,602.77	+91.32	+1.66%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	15,257.00	+225.40	+1.50%
Hang Seng	27,626.92	+609.83	+2.26%
Straits Times	3,398.10	+40.76	+1.21%

http://biz.yahoo.com/ap/071221/wall_street.html
*Stocks Surge on RIM, Merrill Reports*
Friday December 21, 5:52 pm ET
By Tim Paradis, AP Business Writer
*Stocks Jump on RIM, Merrill Reports; Dow Rises More Than 200 Points*

NEW YORK (AP) -- Stocks jumped Friday following a better-than-expected rise in profits at Research in Motion Ltd. and on word that Merrill Lynch may have lined up a big cash infusion from a Singapore fund.

The Dow Jones industrial average capped a volatile week with a gain of more than 200 points and, along with the other major indexes, posted an increase of more than 1.5 percent.

The developments seemed to allay investor fears that economic growth would succumb to tightness in the credit markets. Adding to the measure of relief some investors felt, the Federal Reserve said it would continue with its special biweekly auctions for banks as long as necessary to relieve strains in the short-term debt market.

The announcements came as the New York Stock Exchange set a record for volume in the first half hour and hour of trading during what is known as "quadruple witching." It marks the simultaneous expiration of contracts for stock index futures, stock index options, stock options and single stock futures and often leads to heavy trading near the start and end of the session.

The Dow rose 205.01, or 1.55 percent, to 13,450.65.

Broader stock indicators also showed strong gains. The Standard & Poor's 500 index rose 24.34, or 1.67 percent, to 1,484.46, and the Nasdaq composite index advanced 51.13, or 1.94 percent, to 2,691.99.

Advancing issues outnumbered decliners by about 3 to 1 on the New York Stock Exchange, where consolidated volume came to 4.29 billion shares compared with 3.39 billion traded Thursday.

The Dow, which fell more than 1 percent Monday amid concerns about the health of the consumer, gained 0.83 percent for the week. The Standard & Poor's 500 index finished the week up 1.12 percent, and the Nasdaq composite index rose 2.13 percent.

Stocks rose for the second day after Research in Motion said late Thursday that its fiscal third-quarter profit more than doubled on strong demand for its BlackBerry smart phones. The results gave Wall Street hope that the technology sector has room to expand and that consumers and businesses are still spending.

Adding to investors' upbeat mood, The Wall Street Journal reported that Merrill Lynch & Co., facing hefty writedowns due to losing bets on subprime mortgages, is in advanced talks to secure a capital infusion of as much as $5 billion. The money is expected to come from Singapore state-owned investment agency Temasek Holdings Pte. Ltd., a fund that in late July said it would buy a 1.77 percent stake in Barclays PLC for $2 billion.

Sovereign funds have been providing troubled U.S. and European banks with much-needed cash. Over the past month, the Abu Dhabi Investment Authority bought a stake in Citigroup Inc. for $7.5 billion; the Government of Singapore Investment Corp. invested $9.75 billion in UBS AG; and this week China Investment Corp. paid $5 billion for a stake in Morgan Stanley.

Meanwhile, a Commerce Department report on personal spending brought mostly welcome news. Spending rose by 1.1 percent in November, the largest amount in 3 1/2 years, easing concerns that consumers would curtail spending and hurt the economy. However, the Fed's preferred inflation measure -- the year-over-year core personal consumption expenditures deflator -- rose 2.2 percent. That's above the Fed's comfort level of 1 percent to 2 percent, and could make it harder for the central bank to justify further rate cuts aimed at spurring economic growth.

"I think that investors are impressed with the tenacity of the consumer in the face of the current economic headwinds as well as the self-help actions being taken by some of the distressed financial firms," said Alan Gayle, senior investment strategist at Trusco Capital Management.

He contends the market was poised to move higher after digesting a recent bout of bad news.

"We have been expecting a Santa Claus rally in part because of seasonal factors but also because we feel like the market valuations remain reasonable," Gayle said.

Bond prices fell sharply as stocks jumped. The yield on the 10-year Treasury note, which moves opposite its price, surged to 4.17 percent from 4.06 percent late Thursday. The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude rose $2.25 to settle at $93.31 a barrel on the New York Mercantile Exchange.

Wall Street began what some are hoping could be a late-December rally. But with only five trading days left in the year, no doubt some skepticism remains about whether investors can pull off a sustained rally.

Companies like Research in Motion have reported solid sales growth, but others have had a harder time staying profitable as U.S. consumers struggle with sinking home prices and high energy and food costs. Research in Motion jumped $11.64, or 11 percent, to $118.63.

Morgan Stanley rose $3, or 5.8 percent, to $54.37.

Electronics retailer Circuit City Stores Inc. fell $1.91, or 29 percent, to $4.75 after posting a wider-than-expected loss for the most recent quarter due to lower extended warranty sales and restructuring costs.

The Russell 2000 index of smaller companies jumped 18.06, or 2.35 percent, to 785.60.

Overseas, Japan's Nikkei stock average rose 1.50 percent, and Hong Kong's Hang Seng index added 2.26 percent. Britain's FTSE 100 gained 1.39 percent, Germany's DAX index advanced 1.70 percent and France's CAC-40 rose 1.66 percent.

The Dow Jones industrial average ended the week up 110.80, or 0.83 percent, at 13,450.65. The Standard & Poor's 500 index finished up 16.51, or 1.12 percent, at 1,484.46. The Nasdaq composite index ended up 56.25, or 2.13 percent, at 2,691.99.

The Russell 2000 index finished the week up 31.67, or 4.20 percent, at 785.60.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 14,979.27, up 186.52 points, or 1.26 percent, for the week. A year ago, the index was at 14,244.89.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +98.68 points	+0.73% on Monday December 24 :

Sym Last........ ........Change..........
Dow	13,549.33	+98.68	+0.73%
Nasdaq	2,713.50	+21.51	+0.80%
S&P 500	1,496.45	+11.99	+0.81%
30-yr Bond	4.6180%	+0.0430

NYSE Volume	1,267,431,120
Nasdaq Volume	778,627,250

*Overseas*
stock markets in Japan were closed. Britain's FTSE 100 rose 0.70 percent, Germany's DAX index rose 1.70 percent, and France's CAC-40 rose 0.21 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,479.30	+45.20	+0.70%
DAX	8,002.67	+133.48	+1.70%
CAC 40	5,614.28	+11.51	+0.21%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	15,257.00	0.00	0.00%
Hang Seng	28,128.80	+501.88	+1.82%
Straits Times	3,434.53	0.00	0.00%

http://biz.yahoo.com/ap/071224/wall_street.html
*Stocks Extend Gains After Merrill Deal*
Monday December 24, 3:21 pm ET
By Joe Bel Bruno, AP Business Writer
*Stocks Gain After Merrill Receives $6.2 Billion Investment; Traders Hope for Santa Claus Rally*

NEW YORK (AP) -- Wall Street advanced sharply Monday, boosted by news that Merrill Lynch & Co. will receive an investment of up to $6.2 billion from two investment groups. The Dow Jones industrial average rose nearly 100 points.

Trading volume was light in an abbreviated session -- a typical occurrence a day ahead of Christmas. Still, with only four trading days left in 2007 besides Monday, investors were perhaps looking for any opportunity to tidy up their positions after a year that brought the return of volatility after several years of unusual calm.

Merrill Lynch provided the only significant news of the day. The investment firm said it was receiving a widely expected cash infusion from Singapore's government-controlled investment fund, Temasek Holdings, and U.S.-based money manager Davis Selected Advisors. The proceeds were expected to cushion Merrill's mortgage-related writedowns for the fourth quarter.

The nation's largest brokerage also said it would sell most of its commercial finance unit to GE Capital. Terms of the deal weren't made public.

"The market is tacking on strong gains from Friday, a last-minute Santa Claus rally," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners. "The Merrill Lynch investment adds to stability in the market. I look at it as a vote of confidence on the part of foreign investors."

Monday's gains have some investors hoping for a year-end surge that often extends into the new year and can burnish portfolios. On Friday, the Dow rose more than 200 points and, along with the other major indexes, posted a gain of more than 1.5 percent for the session.

The Dow rose 98.68, or 0.73 percent, to 13,549.33.

Broader market indexes also advanced. The Standard & Poor's 500 index added 11.99, or 0.81 percent, to 1,496.45; and the Nasdaq composite index rose 21.51, or 0.80 percent, to 2,713.50.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 4.21 percent from 4.17 percent late Friday. The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude rose 82 cents to $94.13 on the New York Mercantile Exchange.

Merrill Lynch fell $1.64, or 3 percent, to $53.90 after selling a stake in itself to strengthen its balance sheet. It joins a number of other global banks -- including Citigroup Inc., UBS AG, and Morgan Stanley --to secure a capital infusion to diffuse losses from the credit crisis.

The nation's largest brokerage also sold most of its commercial finance unit to GE Capital. Merrill Lynch Chief Executive John Thain, who took over the position last month, has said he plans to use asset sales to help streamline the company.

Advancing issues led decliners by a 3-to-1 basis on the New York Stock Exchange, where consolidated volume came to a light 1.21 billion.

The Russell 2000 index of smaller companies rose 8.79, or 1.12 percent, to 794.39.

Overseas, stock markets in Japan were closed. Britain's FTSE 100 rose 0.70 percent, Germany's DAX index rose 1.70 percent, and France's CAC-40 rose 0.21 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## Lucky_Country

Hopefully a sustained rally through till the end of JAN


----------



## The Mint Man

Well bigdog seem to have gone AWOL so I'll post the Yahoo! report up although I wont post all the other stuff up.


> *Stocks Finish Flat Flat Amid Concerns About Weak Holiday Sales; Target Warns of Decline​*
> 
> NEW YORK (AP) -- Stocks finished largely flat Wednesday as investors returned from the Christmas holiday to news of weaker-than-expected retail sales. A jump in oil prices also concerned investors.
> The International Council of Shopping Centers said its index of retail chain store sales rose 2.8 percent last week, rounding out a sluggish December performance that puts merchants on track for a smaller sales gain than the trade group originally expected. Still, there is some hope sales will rebound as shoppers start spending with holiday gift cards.
> 
> Other reports released alongside Christmas proved disappointing. Target Corp. indicated its sales may have fallen in December, while MasterCard Inc. said holiday spending -- including credit, cash and checks -- climbed a modest 3.6 percent between Thanksgiving and Christmas, weighed by a slowdown in sales of women's apparel. That compares with a rise of 6.6 percent over the same period last year. The 2007 holiday figure is at the low end of its 3.5 percent to 4.5 percent range. Excluding gasoline and auto sales, that figure was 2.4 percent.
> 
> The news could raise concerns about the strength of consumer spending and, in turn, the economy. However, it has been widely expected that holiday sales would be slower than in years past.
> 
> A report that U.S. home prices fell for the 10th consecutive month in October also appeared to weigh on investors.
> 
> Kim Caughey, senior equity analyst at Fort Pitt Capital Group in Pittsburgh, said reports on retail had upended some investors' hopes for strong consumer spending in the long weekend before Christmas.
> 
> "From the quick analysis it doesn't look like it was a great year. I think investors had held out hope that retail might have had that final flourish. It was a sad flourish, not a strong one," she said.
> 
> According to preliminary calculations, the Dow Jones industrial average rose 2.36, or 0.02 percent, to 13,551.69.
> 
> Advancing and declining issues were just about even on the New York Stock Exchange and volume came to a light 838.7 million shares.
> 
> Broader stock indicators also showed gains. The Standard & Poor's 500 index rose 1.21, or 0.08 percent, to 1,497.66, and the Nasdaq composite index rose 10.91, or 0.40 percent, to 2,724.41.
> 
> Major stock indicators had advanced in the previous three sessions.
> 
> Bond prices fell. The yield on the 10-year Treasury note, which moves opposite its price, rose to 4.29 percent from 4.21 percent late Monday.
> 
> The dollar was mixed against other major currencies, while gold prices rose.
> 
> A barrel of light, sweet crude rose $1.84 to settle at $95.97 on the New York Mercantile Exchange. Oil rose to a one-month high of $96.54 during the session.
> 
> Caughey said rising oil prices were likely adding pressure to stocks but noted that the light trading volume seen in both Monday's and Wednesday's sessions meant investors shouldn't focus too much on the market's moves.
> 
> "I don't know if the direction means anything but the magnitude does," she said. "A little bit of sentiment goes a long way on light trading days."
> 
> But for those investors examining the markets, the holidays loomed large as Wall Street looked for signals about the consumer but also insights about the broader economy.
> 
> The Standard & Poor's/Case-Shiller home price index posted a decline of 6.7 percent, marking the steepest monthly decline since early 1991.
> 
> Among chain stores, Target fell $1.31, or 2.5 percent, to $51.16 after the nation's No. 2 retailer said same-store sales -- those from stores open at least a year -- would range from a 1 percent increase to a 1 percent decrease for the five weeks through Jan. 5. Earlier expectations had called for a gain of 3 percent to 5 percent.
> 
> Macy's Inc., parent of its namesake chain as well as Bloomingdale's, declined $1.06, or 3.9 percent, to $25.95 after falling to a three-year low of $25.25 earlier in the session.
> 
> Acquisition news perhaps helped ease some of investors' concerns. Warren Buffett's Berkshire Hathaway Inc. on Tuesday agreed to pay $4.5 billion to buy 60 percent of Marmon Holdings Inc., a privately held company with more than 125 manufacturing and service businesses.
> 
> The Russell 2000 index of smaller companies rose 2.64, or 0.33 percent, to 797.03.
> 
> Overseas, Japan's Nikkei stock average closed up 0.65 percent. European stock markets were closed for an extended holiday.
> 
> New York Stock Exchange: http://www.nyse.com
> 
> Nasdaq Stock Market: http://www.nasdaq.com




Is it just me or does anyone else find this quote from the above a bit strange???


> Still, there is some hope sales will rebound as shoppers start spending with holiday gift cards.



Considering we are talking about gift cards that had already been paid for, I would have thought that this spending would have been taken into account

Cheers


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +2.36 points	+0.02% on Wednesday December 26 :

Sym Last........ ........Change..........
Dow	13,551.69	+2.36	+0.02%
Nasdaq	2,724.41	+10.91	+0.40%
S&P 500	1,497.66	+1.21	+0.08%
30-yr Bond	4.6860%	+0.0680

NYSE Volume	2,010,497,250
Nasdaq Volume	1,260,316,750

*Europe*
Symbol... Last...... .....Change.......
closed

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	15,653.54	+100.95	+0.65%
Hang Seng	28,128.80	+501.88	+1.82%
Straits Times 3,478.03	+43.50	+1.27%

http://biz.yahoo.com/ap/071226/wall_street.html
*Stocks End Flat on Unease About Consumer*
Wednesday December 26, 5:49 pm ET
By Tim Paradis, AP Business Writer
*Stocks Finish Flat Flat Amid Concerns About Weak Holiday Sales; Target Warns of Decline*

NEW YORK (AP) -- Stocks finished largely flat Wednesday as investors returned from the Christmas holiday to news of weaker-than-expected retail sales. A jump in oil prices also concerned Wall Street.

The International Council of Shopping Centers said its index of retail chain store sales rose 2.8 percent last week, rounding out a sluggish December performance that puts merchants on track for a smaller sales gain than the trade group originally expected. Still, there is some hope sales will rebound as shoppers start spending with holiday gift cards.

Other reports released alongside Christmas proved disappointing. Target Corp. indicated its sales may have fallen in December, while MasterCard Inc. said holiday spending -- including credit, cash and checks -- climbed a modest 3.6 percent between Thanksgiving and Christmas, weighed by a slowdown in sales of women's apparel. That compares with a rise of 6.6 percent over the same period last year. The 2007 holiday figure is at the low end of its 3.5 percent to 4.5 percent range. Excluding gasoline and auto sales, that figure was 2.4 percent.

The news could raise concerns about the strength of consumer spending and, in turn, the economy. However, it has been widely expected that holiday sales would be slow.

A report that U.S. home prices fell for the 10th consecutive month in October also appeared to limit stocks' gains.

Kim Caughey, senior equity analyst at Fort Pitt Capital Group in Pittsburgh, said reports on retail had upended some investors' hopes for strong consumer spending in the long weekend before Christmas.

"From the quick analysis it doesn't look like it was a great year. I think investors had held out hope that retail might have had that final flourish. It was a sad flourish, not a strong one," she said.

The Dow Jones industrial average rose 2.36, or 0.02 percent, to 13,551.69.

Advancing and declining issues were just about even on the New York Stock Exchange and consolidated volume came to a light 1.94 billion shares.

Broader stock indicators also showed gains. The Standard & Poor's 500 index rose 1.21, or 0.08 percent, to 1,497.66, and the Nasdaq composite index rose 10.91, or 0.40 percent, to 2,724.41.

Major stock indicators had advanced in the previous three sessions.

Bond prices fell. The yield on the 10-year Treasury note, which moves opposite its price, rose to 4.29 percent from 4.21 percent late Monday.

The dollar was mixed against other major currencies, while gold prices rose.

A barrel of light, sweet crude rose $1.84 to settle at $95.97 on the New York Mercantile Exchange. Oil rose to a one-month high of $96.54 during the session.

Caughey said rising oil prices likely pressured stocks but noted that the light trading volume seen in both Monday's and Wednesday's sessions meant investors shouldn't focus too much on the market's moves.

"I don't know if the direction means anything but the magnitude does," she said. "A little bit of sentiment goes a long way on light trading days."

But for those investors examining the markets, the holidays loomed large as Wall Street looked for signals about the consumer but also insights about the broader economy.

The Standard & Poor's/Case-Shiller home price index posted a decline of 6.7 percent, marking the steepest monthly decline since early 1991.

Among chain stores, Target fell $1.31, or 2.5 percent, to $51.16 after the nation's No. 2 retailer said same-store sales -- those from stores open at least a year -- would range from a 1 percent increase to a 1 percent decrease for December. Earlier expectations had called for a gain of 3 percent to 5 percent.

Apple Inc. traded above $200 for the first time Wednesday as investors appeared upbeat about the company's ability to see continued brisk sales of its iPods and computers. The stock finished up 15 cents at $198.95 after trading as high as $200.96.

Acquisition news perhaps helped ease some of investors' concerns. Warren Buffett's Berkshire Hathaway Inc. on Tuesday agreed to pay $4.5 billion to buy 60 percent of Marmon Holdings Inc., a privately held company with more than 125 manufacturing and service businesses.

The Russell 2000 index of smaller companies rose 2.64, or 0.33 percent, to 797.03.

Overseas, Japan's Nikkei stock average closed up 0.65 percent. European stock markets were closed for an extended holiday.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## julius

The Mint Man said:


> Considering we are talking about gift cards that had already been paid for, I would have thought that this spending would have been taken into account
> 
> Cheers




I'm not entirely familiar with US reporting standards, but I would imagine gift card sales are classified as unearned revenue, which is in fact a liability on the b. sheet - revenue would then accrue when the gift cards are spent in the store.


----------



## dhukka

julius said:


> I'm not entirely familiar with US reporting standards, but I would imagine gift card sales are classified as unearned revenue, which is in fact a liability on the b. sheet - revenue would then accrue when the gift cards are spent in the store.




Yep, that's exactly how it works. However you cut it the US holiday retail sales season was sluggish. Real growth was close to flat or possibly even negative based on the numbers released by Mastercard.


----------



## The Mint Man

cheers guys... I understand
but either way, it's revenue that has been spent at the retailers right. I suppose you would get a bit of flow on (for lack of a better term) once the consumer buys a particular product and hence the retailer orders another in from the supplier... so on and so forth.

Cheers


----------



## dhukka

Yes and No Mint Man, billions of dollars worth of gift cards actually go unspent. To my way of thinking if I get a gift card at Bed Bath & Beyond for $50 but never shop there I'll probably go out of my way to spend it. I could probably do with some new towels. However many people don't, they just toss them aside and don't spend them. 

As an aside I saw an interview with a guy who set up a company where you can exchange gift cards. So if you got a Border's gift card but never read books you can exchange it for a Home Depot gift card. That might mean less gift cards go unspent.  

How much will all these gift cards add to retail sales? Analysts say we won't know until the end of January. However I find it hard to believe that retail sales are weak because everybody is waiting to cash in their gift cards.


----------



## chops_a_must

The Mint Man said:


> cheers guys... I understand
> but either way, it's revenue that has been spent at the retailers right. I suppose you would get a bit of flow on (for lack of a better term) once the consumer buys a particular product and hence the retailer orders another in from the supplier... so on and so forth.
> 
> Cheers




Yeah, maybe it's to do with that new thing the yanks have got into, you know, the triple bottom line? Where you count all your sales three times?


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by -192.08 points	-1.42% on Thursday December 27 :

Sym Last........ ........Change..........
Dow	13,359.61	-192.08	-1.42%
Nasdaq	2,676.79	-47.62	-1.75%
S&P 500	1,476.27	-21.39	-1.43%
30-yr Bond	4.6140%	-0.0720

NYSE Volume	2,297,169,500
Nasdaq Volume	1,400,022,250

*Overseas*
Japan's Nikkei stock average fell 0.57 percent. 

Britain's FTSE 100 rose 0.29 percent, Germany's DAX index gained 0.45 percent, and France's CAC-40 added 0.24 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,497.80	+18.50	+0.29%
DAX	8,038.60	+35.93	+0.45%
CAC 40	5,627.48	+13.20	+0.24%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	15,564.69	-88.85	-0.57%
Hang Seng	27,842.93	-285.87	-1.02%
Straits Times	3,477.20	+3.99	+0.11%

http://biz.yahoo.com/ap/071227/wall_street.html
Stocks Lose Ground After Bhutto Death
Thursday December 27, 4:27 pm ET
By Tim Paradis, AP Business Writer
Stocks Fall Following Bhutto Assassination, Weak Increase in Durable Goods Orders

NEW YORK (AP) -- Wall Street skidded Thursday after the assassination of Pakistani opposition leader Benazir Bhutto and after the Commerce Department's durable goods orders exacerbated concerns about the U.S. economy. The major indexes lost well over 1 percent and the Dow Jones industrial average fell more than 190 points.

Bhutto's assassination raised the possibility of increasing political unrest abroad, always an unsettling prospect for investors who have already been contending with domestic economic concerns for months. Oil prices rose following the news, and that unwelcome inflationary trend only added to Wall Street's uneasiness.

Meanwhile, the government said orders for durable goods -- big-ticket items from commercial jetliners to home appliances -- rose by just 0.1 percent last month. Economists had been looking for a rise of 2.2 percent. Still, November saw the first rise in durable goods orders in the last four months.

The Labor Department said the number of workers seeking unemployment benefits showed a surprise increase last week. Applications filed for unemployment insurance rose by a seasonally adjusted 1,000 to 349,000. Economists had expecting the figure would fall to around 340,000 for last week.

In a bright spot, the Conference Board said its Consumer Confidence Index advanced to 88.6 in December from a revised 87.8 in November. It was the first increase since July and Wall Street had expected a slight drop.

Investors track the employment and consumer confidence figures because consumer spending represents about two-thirds of economic activity in the U.S.

"The data came in a bit softer than people were anticipating and then you throw in the situation in Pakistan and that's led people to rush back into Treasurys," said Tom Higgins, chief economist at Payden & Rygel Investment Management in Los Angeles.

Thursday's drop was perhaps exaggerated by the fact that many traders were on vacation, making volume light and price swings more severe. Still, given the political uncertainty overseas, many investors were likely selling because they were uneasy about holding long positions going into a holiday weekend.

According to preliminary calculations, the Dow fell 192.08, or 1.42 percent, to 13,359.61.

Broader stock indicators also fell. The Standard & Poor's 500 index declined 21.39, or 1.43 percent, to 1,476.27, and the Nasdaq composite index fell 47.62, or 1.75 percent, to 2,676.79.

Bond prices rose sharply as investors worried about political instability sought the safety of U.S.-backed investments. The yield on the 10-year Treasury note, which moves opposite its price, fell to 4.19 percent from 4.29 percent late Wednesday. The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude rose 65 cents to settle at $96.62 per barrel on the New York Mercantile Exchang following Bhutto's death. Prices also lifted after the Energy Department reported that oil inventories fell by 3.3 million barrels last week, more than double what was expected.

Stocks managed to advance in the previous four sessions, posting a modest increase Wednesday as investors tried to reconcile their expectations with somewhat disappointing results from retailers.

But Thursday's decline after several sessions of gains reflected investors unease over the health of the consumer the prospects for the economy in 2008.

"What happens with the U.S. consumer really determines whether we avoid a recession or whether we actually have one," said Higgins. He expects growth will become sluggish but that the country will skirt a recession.

Higgins also cautioned against reading too much into the moves of year-end sessions like that seen Thursday where volumes are light.

Leo Kamp, chief economist at financial services group TIAA-CREF, said the tallies of recent weekly unemployment figures are likely unsettling for many investors.

"There is a lot of news in those numbers. They have been trending up which suggests that the labor market and the economy will be slow for a while," Kamp said.

The financial sector also commanded some of the attention of those who waded into the markets Thursday. Goldman Sachs predicted that the flood of writedowns at banks tied to soured mortgages will continue.

Goldman said Citigroup Inc. may be forced to write off 70 percent more than the $8 billion to $11 billion Citi forecast in early November. Citi could also cut its dividend, and might need to raise $5 billion to $10 billion more cash, Goldman estimated.

Citi, one of the 30 stocks that makes up the Dow Jones industrials, fell 89 cents, or 2.9 percent, to $29.56.

Goldman also raised concerns about Merrill Lynch & Co., which fell $1.34, or 2.5 percent, to $53.20 and JPMorgan Chase & Co. declined $1.30 to $43.64.

Meanwhile, Sallie Mae fell $2.48, or 11.2 percent, to $19.65 after saying it would sell $2.5 billion in stock and use a bulk of the proceeds to settle contracts requiring the company to buy back stock at prices above current levels. Shares of the student lender, officially known as SLM Corp., fell sharply last week amid concerns about the company's plans following a the collapse of a $25 billion buyout deal.

Declining issues outnumbered advancers by more than 3 to 1 on the New York Stock Exchange, where volume came to a light 984.4 million shares.

The Russell 2000 index of smaller companies fell 23.52, or 2.95 percent, to 773.51.

Overseas, Japan's Nikkei stock average fell 0.57 percent. Britain's FTSE 100 rose 0.29 percent, Germany's DAX index gained 0.45 percent, and France's CAC-40 added 0.24 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The Dow Jones industrial average ended the week down 84.78, or 0.63 percent, at 13,365.87. The Standard & Poor's 500 index finished down 5.97, or 0.40 percent, at 1,478.49. The Nasdaq composite index ended down 17.53, or 0.65 percent, at 2,674.46.

The NYSE DOW closed HIGHER by +6.26 points	+0.05% on friday December 28 :

Sym Last........ ........Change..........
Dow	13,365.87	+6.26	+0.05%
Nasdaq	2,674.46	-2.33	-0.09%
S&P 500	1,478.49	+2.12	+0.14%
30-yr Bond	4.5140%	-0.1000

NYSE Volume	2,429,101,000
Nasdaq Volume	1,351,493,620

*Overseas*
Japan's Nikkei stock average fell 1.65 percent. Britain's FTSE 100 fell 0.32 percent and France's CAC-40 ended essentially flat.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,476.90	-20.90	-0.32%
DAX	8,067.32	+28.72	+0.36%
CAC 40	5,627.25	-0.23	-0.00%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	15,307.78	-256.91	-1.65%
Hang Seng	27,370.60	-472.33	-1.70%
Straits Times	3,445.82	-31.38	-0.90%

http://biz.yahoo.com/ap/071228/wall_street.html
*Stocks End Mixed After Housing Data*
Friday December 28, 6:05 pm ET
By Tim Paradis, AP Business Writer
*Stocks Finish Narrowly Mixed After Sharp Drop in New Home Sales Stirs Concerns About Consumers*

NEW YORK (AP) -- Wall Street finished an erratic week narrowly mixed Friday after a government report of a steep decline in new home sales stirred concerns that weakness in housing will continue to dog the economy. The major indexes lost ground for the week.

The Commerce Department report that new home sales fell 9 percent from October to a seasonally adjusted annual rate of 647,000 triggered renewed nervousness that consumers could become uneasy and tamp down their spending.

Stocks, which fell more than 1 percent Thursday following unwelcome economic readings and the assassination of Pakistani opposition leader Benazir Bhutto, fluctuated through the day Friday. The Chicago purchasing managers' index had for a time offered some support to investor sentiment Friday after it showed a stronger-than-expected increase for December manufacturing activity in the Midwest.

But Wall Street appeared unable to hold onto its enthusiasm for too long -- repeating a pattern that has become commonplace since the summer. Investors are eager for any economic data that can help illuminate whether weakness in the housing and financial sectors is undercutting the overall economy, possibly leading to a recession.

Quincy Krosby, chief investment strategist at The Hartford, contends the news from growth in Midwest manufacturing to the weak housing report could have an outsize effect on stocks because of the session's light volume.

"What you have is a very thinly traded market so any news, whether it's good news or bad news, can skew the market actually quite dramatically one way or the other," she said.

The Dow Jones industrial average rose 6.26, or 0.05 percent, to 13,365.87, after bobbing higher and lower throughout the session.

Broader stock indicators were mixed. The Standard & Poor's 500 index rose 2.12, or 0.14 percent, to 1,478.49, and the Nasdaq composite index fell 2.33, or 0.09 percent, to 2,674.46.

For the week, the Dow lost 0.63 percent, the S&P 500 slid 0.65 percent and the Nasdaq fell 0.55 percent.

Despite months of volatile trading that has seen stocks surge and then backslide, the indexes are going into the final trading session of 2007 with decent gains: The Dow is up 902.72, or 7.24 percent, while the S&P 500 is up 60.19, or 4.24 percent and the Nasdaq is up 259.17, or 10.73 percent.

This week saw the kind of choppy trading that is now typical in the stock market. Wall Street was lifted Monday by news of a $6.2 billion in Merrill Lynch & Co., a welcome development given the financial sector's continuing problems from the mortgage and credit crisis. But by Thursday, those gains were gone, wiped out as world political events reminded investors of the problems that still exist beyond the economic uncertainties in the U.S.

Advancing issues narrowly outnumbered decliners on the New York Stock Exchange. Consolidated volume came to 2.31 billion shares, up from 2.27 billion shares Thursday.

Bond prices rose sharply as investors looked for the assurances of U.S.-backed investments. The yield on the 10-year Treasury note, which moves opposite its price, fell to 4.12 percent from 4.19 percent late Thursday. The dollar was lower against most other major currencies, while gold prices rose.

Light, sweet crude fell 62 cents to settle at $96 per barrel on the New York Mercantile Exchange. Rising prices in recent days have renewed talk of breaching the psychological benchmark of $100. Oil hit a peak of $99.29 on Nov. 21.

Friday's economic readings painted a mixed picture, lending little help to stocks, which have been unable to carry out an end-of-the-year rally due to concerns that the economy will start contracting.

The pace of sales of new homes in November proved much weaker than economists had been expecting. Wall Street had predicted sales would drop about 1.8 percent to a pace of 715,000.

In a more optimistic sign for the economy, the purchasing managers index, considered a precursor of the national Institute for Supply Management report being released Wednesday, rose to 56.6 from 52.9 in November. Economists, on average, had been expecting a showing of 52.0, according to Dow Jones Newswires.

But the Chicago PMI's December employment index fell to 49.0 from 54.4 in the prior month. Wall Street regards solid employment as the crucial underpinning of the economy's well-being because it feeds consumer spending, which accounts for more than two-thirds of U.S. economic activity.

Krosby said the turmoil in Pakistan following the assassination of the country's former prime minister Benazir Bhutto could make investors leery of holding big positions heading into a holiday weekend.

While the markets are open Monday, many investors are likely to stay home ahead of New Year's Day.

"I don't think that anyone at this stage wants to stake out a new position," she said.

In corporate news, a New York state regulator said Warren Buffett's Berkshire Hathaway will receive a license to open a bond insurance business in the state. Berkshire Hathaway said Friday it agreed to buy NRG N.V., the reinsurance unit of ING Group said for about $435.7 million in cash.

Genesco Inc. jumped $5.44, or 16.5 percent, to $38.50 after a judge ruled The Finish Line Inc. cannot back out of its $1.5 billion purchase of Genesco. Finish Line fell 75 cents, or 24.6 percent, to $2.30.

The Russell 2000 index of smaller companies fell 1.75, or 0.23 percent, to 771.76.

Overseas, Japan's Nikkei stock average fell 1.65 percent. Britain's FTSE 100 fell 0.32 percent and France's CAC-40 ended essentially flat.

The Dow Jones industrial average ended the week down 84.78, or 0.63 percent, at 13,365.87. The Standard & Poor's 500 index finished down 5.97, or 0.40 percent, at 1,478.49. The Nasdaq composite index ended down 17.53, or 0.65 percent, at 2,674.46.

The Russell 2000 index finished the week down 13.84, or 1.76 percent, at 771.76.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 14,911.63, down 67.64 points, or 0.45 percent, for the week. A year ago, the index was at 14,324.84.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"


The NYSE DOW closed LOWER by -101.05 points -0.76% on Monday December 31 :

Sym Last........ ........Change..........
Dow 13,264.82 -101.05 -0.76% 
Nasdaq 2,652.28 -22.18 -0.83% 
S&P 500 1,468.36 -10.13 -0.69% 
10 Yr Bond(%) 4.0350% -0.0610 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 6,456.90 -20.00 -0.31% 
DAX 8,067.32 +28.72 +0.36% 
CAC 40 5,614.08 -13.17 -0.23% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 15,307.78 -256.91 -1.65% 
Hang Seng 27,812.65 +442.05 +1.62% 
Straits Times 3,482.30 +36.48 +1.06% 

http://biz.yahoo.com/ap/071231/wall_street.html
*Stocks Fall on Last Day of '07*
Monday December 31, 5:42 pm ET 
By Madlen Read, AP Business Writer  
*Wall Street Wraps Up 2007 in a Somber Mood, but Dow Has Annual Gain of More Than 6 Percent *

NEW YORK (AP) -- Wall Street ended a painful year with another steep loss Monday as investors glumly anticipated that 2008 would bring more of the uncertainty and turbulence of 2007.

The Dow Jones industrials fell 101 points, the latest in a string of triple-digit moves that became commonplace in the just-ended year amid a continuum of bad news about housing, faltering mortgages and shrinking credit. Thanks to a big first-half advance, they managed to finish 2007 with a respectable increase of 6.43 percent -- not as large as the 16.29 percent jump in 2006, but a better performance than the modest loss in 2005. 

The Dow's annual gain came even after it posted its worst fourth-quarter drop in 20 years, amid billion-dollar losses at the world's biggest financial firms and falling spending by consumers whose budgets have been crimped by record-high oil prices and declining home prices.

"Considering all that's going on, the market really acted pretty well," said Todd Leone, managing director of equity trading at Cowen & Co.

It's tough to say what the primary market driver of 2008 will be, but the stock market faces a slew of threats: more adjustable-rate mortgage resets, a still-tight credit market and the possibility of accelerating inflation. But Leone said the fourth-quarter earnings season in January should shed some light on how U.S. companies are surviving the recent slowdown and credit crunch.

There was more downbeat news on housing Monday. The National Association of Realtors said November existing home sales rose 0.4 percent to an annual rate of 5 million -- the first rise in nine months. However, sales are 20 percent below where they were a year ago, and the median existing home price has dropped 3.3 percent over the past 12 months.

Falling home prices have made it hard for struggling homeowners to refinance their mortgages, and the slump in construction activity has hurt homebuilders and other housing-related industries.

Still, there were some slivers of optimism Monday. The U.K.'s Observer newspaper reported Sunday that Merrill Lynch & Co. was in talks over the weekend to line up capital from investors in China and the Middle East in exchange for portions of the Wall Street firm.

Merrill, like many other financial houses, has seen its portfolio lose billions of dollar in value due to misplaced bets on mortgages. And as Citigroup Inc., UBS AG, Morgan Stanley and Bear Stearns Cos. have done, it has turned to investors in Asia for much-needed capital -- Merrill has already gotten $4.4 billion this month from a Singapore fund, which bought a 9.9 percent stake in the U.S. brokerage.

The Dow fell 101.05, or 0.76 percent, to 13,264.82. The blue-chip index remains below its Oct. 9 record high of 14,164.53, at which point it was up more than 13 percent year-to-date.

The Standard & Poor's 500 index and the technology-dominated Nasdaq composite index also declined Monday, but both posted annual gains for the fifth straight year.

The S&P 500 index fell 10.13, or 0.69 percent, to 1,468.36, to end 2007 with a gain of 3.53 percent. It had reached a record close of 1,565.15 on Oct. 9.

The Nasdaq fell 22.18, or 0.83 percent, to 2,652.28, to finish the year with a 9.81 percent gain. Despite the market's volatility, this was the best performance for the Nasdaq, still well below its tech boom highs, since 2003.

Government bonds rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, slid to 4.03 percent from 4.12 percent late Friday, and is down nearly 17 percent for the year.

Declining issues narrowly outnumbered advancers on the New York Stock Exchange. Consolidated volume came to a light 2.38 billion shares, up slightly from 2.31 billion Friday.

2007 was a remarkable year on Wall Street. The market began the year continuing the rally that propelled the Dow above 12,000 for the first time in October. Then, in late February, came a reminder that stocks were capable of turning tail and plunging -- a skid on China's stock market and an ominous economic outlook from former Federal Reserve Chairman Alan Greenspan sent the Dow down 416 points in one day.

That panic didn't last long. In April, the Dow barreled above 13,000 for the first time and then glided past 14,000 in mid-July. But in late July, however, the market realized that the ongoing slump in housing, and a rise in mortgage foreclosures due to resetting adjustable-rate loans, was taking a toll across the credit markets.

Though the housing market started teetering as early as 2005, few people anticipated how much the downturn could affect the global financial system. Mortgages given to borrowers deemed "subprime" comprised only about an eighth of the $10 trillion U.S. mortgage market -- why would that rattle the world markets?

The problem was, these pieces of debt were chopped up, repackaged and woven into larger fixed-income instruments, on which banks and other investors made billion-dollar bets -- bets that were extremely profitable during the housing boom, but calamitous when borrowers couldn't keep up with their mortgage payments. When one slice of the instrument defaulted, it pulled the whole thing down with it.

Investors bailed out of anything tied to mortgages, and soon Wall Street discovered that financial institutions in the United States and overseas were holding billions of dollars in assets that were losing value by the day. The biggest names on the Street -- Merrill Lynch, Citigroup Inc., Bear Stearns Cos. -- announced billions of dollars in writedowns. Merrill and Citi lost their CEOs, and several financial firms sought out billion-dollar investments to clean up their balance sheets.

In the midst of this turmoil, the credit markets all but seized up, and all these interconnected events pummeled stocks. The Dow suffered triple-digit drops, recoveries and then drops again as Wall Street stumbled through months of volatility reminiscent of the terrible days after the 2001 terror attacks.

In August and September the Federal Reserve began to act, with interest rate cuts and injections of liquidity. It helped for a while, and in October, stocks were rallying again taking the Dow to another set of record highs -- only to succumb again to fears about the unknown extent of the credit mess.
Wall Street enters 2008 with that same concern, not to mention oil's surge this year of about 60 percent to nearly $100 a barrel, and the U.S. dollar's tumble to record lows against the euro. On Monday, the dollar rose against most other major currencies, gold prices fell, and crude oil prices slipped 2 cents to settle at $95.98 a barrel on the New York Mercantile Exchange.

"We've seen the return of volatility. I think that will be around for a while, and will govern trading for the new year," said Scott Fullman, director of investment strategy for I. A. Englander & Co. "Stock selection and strategy will play a very important part in the success of anybody who is trading going into the new year. This is not a time where you throw a dart at the board."

In 2007, the technology, energy, industrials and healthcare sectors did well, while the financial industry and small-caps -- usually fledgling companies that rely heavily on loans to grow their business -- lagged.

The biggest gainer among the 30 Dow components was Honeywell Inc., with an annual rise of 36 percent, and the biggest loser was Citigroup, with a loss of 47 percent.

The Russell 2000 index of smaller companies fell 5.73, or 0.74 percent, to 766.03 Monday. The small-cap index finished the year down 2.75 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed LOWER by -220.86	-1.67% on Wednesday January 2 :

Sym Last........ ........Change..........
Dow	13,043.96	-220.86	-1.67%
Nasdaq	2,609.63	-42.65	-1.61%
S&P 500	1,447.16	-21.20	-1.44%
10 Yr Bond(%)	3.9010%	-0.1340

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,416.70	-40.20	-0.62%
DAX	7,949.11	-118.21	-1.47%
CAC 40	5,550.36	-63.72	-1.14%

*Asia*
Symbol..... Last...... .....Change.......
closed

http://biz.yahoo.com/ap/080102/wall_street.html
*Stocks Drop on Weak Manufacturing Report*
Wednesday January 2, 4:27 pm ET
By Tim Paradis, AP Business Writer
*Stocks Pull Back After Weak Manufacturing Reading, Rising Oil Prices Stir Unease*

NEW YORK (AP) -- Wall Street skidded lower Wednesday after a weaker-than-expected reading on the manufacturing sector and a spike in oil prices to $100 a barrel triggered concerns of a further slowdown in the overall economy.

The major indexes each lost more than 1 percent, with the Dow Jones industrials giving up more than 200 points. It was the blue chip index's biggest point decline for the first day of trading in a new year.

The Institute for Supply Management's report that its manufacturing index fell to 47.7 percent for December from 50.8 percent in November raised concerns that the economy could be slowing at a quicker pace than some investors had estimated. The reading below 50 signals economic contraction, whereas readings over 50 indicate expansion.

Analysts polled by Thomson/IFR had anticipated that manufacturing would expand modestly in December.

Light, sweet crude rose $3.64 to $99.62 per barrel on the New York Mercantile Exchange after earlier hitting $100 for the first time. The rise follows violence in the oil-producing nation of Nigeria, concerns about weather-related production halts in Mexico and speculation that inventory figures will show drops in levels of U.S. supplies.

The economic reading and rising oil prices were unwelcome for investors wading into the first trading session of 2008 and indicated the concerns that weighed on stocks in the second half of 2007 will for now persist.

"It certainly is a soft number and the declines in production and new orders are eye-catching," said Alan Levenson, chief economist at T. Rowe Price Associates Inc. "Overall, the ISM has generally been a decent guide for the economy. This is a sharp decline in one month."

Stocks failed to gain momentum after an initial bounce after minutes from the Federal Reserve's last meeting. Central bankers, who voted to raise interest rates a quarter percentage point, called the economic outlook "unusually uncertain." While that strengthened the case for lower rates, it also confirmed some of the market's worst fears about the economy.

According to preliminary calculations, the Dow Jones industrial average fell 220.86, or 1.67 percent, to 13,043.96. The blue chips briefly fell below 13,000 for the first time since November.

Broader stock indicators also fell sharply. The Standard & Poor's 500 index slid 21.20, or 1.44 percent, to 1,447.16, and the Nasdaq composite index fell 42.65, or 1.61 percent, to 2,609.63.

Bond prices surged after the ISM report. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.89 percent from 4.03 percent late Monday. The dollar was mixed against other major currencies, while gold prices reached a 28-year high.

Declining issues outnumbered advancers by about 2 to 1 on the New York Stock Exchange, where volume came to 1.23 billion shares.

The weak manufacturing reading came as Wall Street entered 2008 still uneasy over the economy, specifically the state of the housing market and tightness in the credit markets brought on by fears of faltering mortgage debt. In addition, the health of the consumer is again in focus as investor are awaiting the government's December employment report, due Friday.

Investors weren't swayed by the release of the Fed's minutes from its Dec. 11 meeting. Central bankers cut rates amid worries about housing, credit and financial markets -- and kept all their options open for their next move, according to the minutes.

"We didn't really learn anything new," said Ryan Larson, senior equity trader with Voyageur Asset Management. "The Fed continues to be stuck between a rock and a hard place in terms of fighting inflation and managing U.S. growth."

The arrival of the new year was accompanied by a return of more of Wall Street's regular players. The recent weeks surrounding the holidays have seen light trading volume, making it hard to draw any meaningful reading on the market's mood. Moves higher or lower tend to be exaggerated amid light sessions.

In corporate news, National City Corp. fell 87 cents, or 5.3 percent, to $15.59 after halving its dividend and shutting down its wholesale mortgage business. The move, which eliminates 900 jobs, comes amid continued weakness in the housing and credit markets.

Chip stocks fell after Bank of America issued a bearish assessment for the sector. Intel Corp. fell $1.31, or 4.9 percent, to $25.35, while Advanced Micro Devices fell 36 cents, or 4.8 percent, to $7.14.

Amazon.com Inc. gained $3.61, or 3.9 percent, to $96.25 after Citi Investment Research raised its rating on the online retailer.

The Russell 2000 index of smaller companies fell 12.48, or 1.63 percent, to 753.55.

Overseas, Germany's DAX index fell 1.47 percent and France's CAC-40 lost 1.14 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
* the biz.yahoo article link below can be accessed from the finance.yahoo link above under heading "Top Financial News"

The NYSE DOW closed HIGHER by +12.76 points	+0.10% on Thursday January 4:

Sym Last........ ........Change..........
Dow	13,056.72	+12.76	+0.10%
Nasdaq	2,602.68	-6.95	-0.27%
S&P 500	1,447.16	0.00	0.00%
30-yr Bond	4.3690%	+0.0170

NYSE Volume	3,423,483,750
Nasdaq Volume	1,982,130,000

*Overseas*
Britain's FTSE 100 closed up 0.98 percent, Germany's DAX index fell 0.51 percent, and France's CAC-40 slipped 0.08 percent. 

Markets in Japan were closed for a bank holiday. Hong Kong's Hang Seng index fell 2.44 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,479.40	+62.70	+0.98%
DAX	7,908.41	-40.70	-0.51%
CAC 40	5,546.08	-4.28	-0.08%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	closed
Hang Seng	26,887.28	-673.24	-2.44%
Straits Times	3,397.06 -64.16	-1.85%

http://biz.yahoo.com/ap/080103/wall_street.html
*Stocks Close Mixed Ahead of Jobs Report*
Thursday January 3, 5:21 pm ET
By Tim Paradis, AP Business Writer
*Stocks Mixed After Economic Reports; Market Awaits Friday Labor Reading*

NEW YORK (AP) -- Wall Street closed narrowly mixed Thursday as investors traded cautiously ahead of the Labor Department's Friday reading on December employment. Inflation jitters remained high as oil prices set a new trading record above $100.

Investors who sent stocks skidding Wednesday amid economic concerns and rising oil prices initially took some solace in findings released Thursday by payroll company Automatic Data Processing. The ADP report said the economy added 40,000 private sector jobs last month, above the 30,000 forecast of economists polled by Dow Jones Newswires.

Also Thursday, the Labor Department said the number of newly laid off workers seeking unemployment benefits fell last week. But investors were mindful that these weekly readings can be volatile, and the latest reflected unusual factors related to the Christmas holiday. Wall Street has for weeks been holding out for Friday's December jobs snapshot. The Labor Department report should indicate whether the solid job market that existed last year can continue into 2008 and help sustain consumer spending.

Meanwhile, oil set a fresh trading record of $100.09 a barrel on the New York Mercantile Exchange after government figures showed a larger-than-expected decline in crude oil inventories. Analysts said more expensive oil is stirring some concerns about rising prices in general and whether the Federal Reserve would still have room to lower interest rates.

"We are worried about inflation," said Nicholas Raich, director of equity research at National City Private Client Group in Cleveland. "That's probably the biggest risk in 2008."

The Dow Jones industrial average rose 12.76, or 0.10 percent, to 13,056.72, after moving higher and lower over the course of the session.

Broader stock indicators were mixed. The Standard & Poor's 500 index was unchanged at 1,447.17, and the Nasdaq composite index slipped 6.95, or 0.27 percent, to 2,602.68.

"There was nothing that was really that helpful in the economic reports today. The jobless claims were a little bit better, but they're still in a sideways pattern ... and the four-week average keeps moving up," said Linda Duessel, market strategist at Federated Investors in Pittsburgh.

Light, sweet crude, easing back from its record with the normal ebb and flow of trading, fell 44 cents to settle at $99.18 a barrel on Nymex.

Bond prices rose as stocks retreated from earlier highs. The yield on the benchmark 10-year Treasury note, which trades opposite its price, dipped to 3.89 percent from 3.91 percent late Wednesday. The dollar was mixed against other major currencies, while gold prices rose.

The market was waiting for Friday's jobs report because of the link between employment and consumer spending. A slowdown in spending among consumers fearful of losing their jobs, or not being able to find new ones, would be regarded as a heavy blow to the economy. The continuing rise in commodities prices, including a likely uptick in gasoline prices following spikes in oil, makes some investors nervous about the ability of consumers to keep spending apace.

Stocks drew some support from a Commerce Department report that orders to U.S. factories rose in November by the largest amount in four months. However, an important reading of business investment fell for a second straight month.

Concerns about the health of the overall economy weighed on stocks Wednesday and sent each of the major indexes down by more than 1 percent. The Dow Jones industrials lost more than 220 points.

In corporate news on Thursday, State Street Corp. rose $6.49, or 8.2 percent, to $85.37 after saying William W. Hunt resigned as president and chief executive of State Street Global Advisors. The move comes as the provider of mutual fund and pension-processing services prepares to book a $279 million fourth-quarter charge related to expected lawsuits over the weak performance of certain fixed-income strategies managed by the investment division.

Monsanto Co. rose $9.45, or 8.5 percent, to $120.92 after saying its first-quarter profit nearly tripled amid a strong performance by its Latin American business. The seed company raised its earnings forecast for the year.

Ford Motor Co. slipped 15 cents, or 2.3 percent, to $6.45 after saying that India's Tata Motors Ltd. was the top bidder for its Jaguar and Land Rover units. Ford said it has begun negotiations with Tata aimed at hammering out a sale agreement for the British car brands. The company said separately that its December U.S. sales fell amid lower demand for both cars and light trucks.

Advancing issues outnumbered decliners by about 8 to 7 on the New York Stock Exchange, where volume came to 1.32 billion shares.

The Russell 2000 index of smaller companies fell 8.54, or 1.13 percent, to 745.01.

In trading abroad, Britain's FTSE 100 closed up 0.98 percent, Germany's DAX index fell 0.51 percent, and France's CAC-40 slipped 0.08 percent. Markets in Japan were closed for a bank holiday. Hong Kong's Hang Seng index fell 2.44 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The NYSE DOW closed LOWER by -256.54 points	-1.96% on Friday January 5:

Sym Last........ ........Change..........
Dow	12,800.18	-256.54	-1.96%
Nasdaq	2,504.65	-98.03	-3.77%
S&P 500	1,411.63	-35.53	-2.46%
30-yr Bond	4.3590%	-0.0100

NYSE Volume	4,105,599,250
Nasdaq Volume	2,465,448,750

*Overseas*
Japan's Nikkei stock average fell sharply, finishing down 4.03 percent to its lowest level since July 2006 after being closed since the previous Friday for holidays. The pullback followed uncertainty on Wall Street about the U.S. economy and rising oil prices.

Britain's FTSE 100 fell 2.02 percent, Germany's DAX index fell 1.26 percent, and France's CAC-40 fell 1.79 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,348.50	-130.90	-2.02%
DAX	7,808.69	-99.72	-1.26%
CAC 40	5,446.79	-99.29	-1.79%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	14,691.41	-616.37	-4.03%
Hang Seng	27,519.69	+632.41	+2.35%
Straits Times	3,437.79	+40.73	+1.20%

http://biz.yahoo.com/ap/080104/wall_street.html
*Stocks Sink on Jobs Data; Tech Plummets*
Friday January 4, 4:23 pm ET
By Tim Paradis, AP Business Writer
*Stocks Finish Lower After Slower-Than-Expected Jobs Growth, Rising Unemployment*

NEW YORK (AP) -- Wall Street fell sharply again Friday after the government's much-anticipated employment report showed weaker-than-expected job growth and a rise in the unemployment rate. The Nasdaq composite index, also pummeled by a downgrade of Intel Corp., skidded more than 3.5 percent, while the Dow Jones industrials fell more than 1.5 percent.

The Labor Department's report that employers raised payrolls by only 18,000 and that the nation's unemployment rate rose to its highest level since November 2005 unnerved investors, who worried that a weakening job market will hurt consumer spending and tip the economy toward recession.

A better-than-expected reading on the nation's service economy briefly pulled stocks off their lows but wasn't enough to shake investors' concerns.

Investors had been awaiting the jobs report for weeks as they tried to determine whether the economy would continue to benefit from robust consumer spending even as sectors like home construction, mortgage writing and manufacturing slow. Wall Street is concerned that areas of weakness could puncture growth if consumers can't depend on a solid job market.

Manufacturers, construction companies and financial services companies all cut jobs during the month amid an anemic housing market. Retailers also made reductions.

The December report showed employers added the fewest jobs to their payrolls since August 2003. Economists had predicted a jobs growth figure of about 70,000 and an unemployment rate of 4.8 percent. Instead, unemployment climbed to 5 percent in December from 4.7 percent in November. While 5 percent unemployment is still considered good by historical standards, the increase from November clearly made some investors nervous.

"It's a scary number, no question about it. No matter how good you wanted to feel about the economy averting a recession, there is far less conviction than even two or three days ago," said Joe Balestrino, senior portfolio manager at Federated Investors.

According to preliminary calculations, the technology-focused Nasdaq fell for the sixth straight session and showed its steepest percentage decline since a market pullback on Feb. 27 last year. The Nasdaq declined 98.03, or 3.77 percent, to 2,504.65, in part after the downgrade of Intel, but also because its smaller-capitalization components are seen as more vulnerable in an economic slowdown.

The Dow fell 256.54, or 1.96 percent, to 12,800.18, while the Standard & Poor's 500 index declined 35.53, or 2.46 percent, to 1,411.63.

It was the steepest point drop for the Dow and the S&P 500 since Dec. 11.

The Russell 2000 index of smaller companies fell 23.44, or 3.14 percent, to 721.57 and hit a fresh 52-week low.

Declining issues outnumbered advancers by more than 3 to 1 on the New York Stock Exchange, where volume came to 1.65 billion shares, compared with 1.32 billion traded Thursday.

Bond prices rose as investors sought the safety of government-backed debt after the employment reading. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.87 percent from 3.89 percent late Thursday.

A Federal Reserve announcement Friday that it is ramping up the amount of cash available to banks through a new auction process did little to calm the markets. After two auctions of $20 billion each, the Fed has now scheduled auctions Jan. 14 and Jan. 28 at $30 billion each.

The dollar was mixed against other major currencies. Gold prices, which have risen to nearly 30-year highs in recent days, declined.

Light, sweet crude fell $1.27 to settle at $97.91 a barrel on the New York Mercantile Exchange. Oil touched $100 per barrel this week for the first time, stirring concerns about inflation.

The employment figures overshadowed a report from the Institute for Supply Management, a business group, which said its December index of non-manufacturing activity showed the nation's service sector grew in December. However, the pace was slightly slower than in November and the index fell to 53.9 in December from 54.1 the prior month. Analysts had expected a deeper decline.

It's been a difficult start to 2008 on Wall Street. After selling off in the final session of last year on Monday, investors spent the first three sessions of the new year absorbing a weaker-than-expected reading on the manufacturing sector, oil that reached $100 a barrel and Friday's dismal employment numbers.

"It's hard to point to any piece of data in recent weeks that makes you feel comfortable," said Balestrino, noting that many bullish investors had hoped a strong jobs picture would lift Wall Street's mood.

"This the one piece that was holding up pretty well and now it's showing some weakness as well," he said. "In our business it's not the absolute number, it's the direction of the number and especially the direction versus the expectations."

In corporate news, a JPMorgan analyst lowered his rating on Intel to "neutral" from "overweight," citing a drop in chip orders from computer manufacturers during the fourth quarter and high inventories. Intel, one of the 30 stocks that comprise the Dow industrials, fell $2, or 8.1 percent, to $22.67.

Overseas, Japan's Nikkei stock average fell sharply, finishing down 4.03 percent to its lowest level since July 2006 after being closed since the previous Friday for holidays. The pullback followed uncertainty on Wall Street about the U.S. economy and rising oil prices.

Britain's FTSE 100 fell 2.02 percent, Germany's DAX index fell 1.26 percent, and France's CAC-40 fell 1.79 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## The Mint Man

Hey ASFers,
BigDog has gone away for a few weeks and has asked me to post up the yahoo articles for him... so here goes

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Sym... Last........ ........Change..........
Dow 12,827.49 +27.31 +0.21% 
Nasdaq 2,499.46 -5.19 -0.21% 
S&P 500 1,416.18 +4.55 +0.32% 
10 Yr Bond(%) 3.8390% -0.0150 

*Overseas*
Overseas, Japan's Nikkei stock average closed down 1.30 percent. Britain's FTSE 100 fell 0.20 percent, Germany's DAX index added 0.11 percent, and France's CAC-40 was up 0.11 percent.

*Europe*
Sym... Last........ ........Change..........
FTSE 100 6,335.70 -12.80 -0.20% 
DAX 7,817.17 +8.48 +0.11% 
CAC 40 5,452.83 +6.04 +0.11% 

*Asia*
Sym... Last........ ........Change..........
Nikkei 225 14,500.55 0.00 0.00% 
Hang Seng 27,179.49 -340.20 -1.24% 
Straits Times 3,353.06 0.00 0.00% 

http://biz.yahoo.com/ap/080107/wall_street.html
*Stocks End Mixed in Shaky Trading*
Monday January 7, 4:32 pm ET 
By Joe Bel Bruno, AP Business Writer  
*Stocks Mixed With 4Q Earnings Looming, As Investors Hope Fed Will Cut Rates to Fight Recession​*
NEW YORK (AP) -- Wall Street ended an erratic session mixed Monday as investors grew more confident that the Federal Reserve will lower interest rates again to ward off recession and as they also wrestled with worries about the upcoming earnings season.

The market contended as well with a resurgence of tensions between the U.S. and Iran.

Investors have grown more optimistic about a rate cut at the Fed's Jan. 29-30 meeting after last week's disappointing reports on jobs and manufacturing pointed to a slowing in the economy last month. And, they might get some clues about the central bank's stance when its chairman, Ben Bernanke, delivers a speech on Thursday.

That optimism kept stocks from falling far during a session that saw the major indexes reverse course several time. But Wall Street remained uneasy as it awaited fourth-quarter earnings season, which unofficially starts Wednesday, when aluminum producer Alcoa Inc. posts results. Analysts said investors will be paying particular attention to financial services stocks that have been hit hard by the ongoing credit crisis.

"It's a directionless market with very little for investors to sink their teeth into," said Jack A. Ablin, chief investment officer at Harris Private Bank, of Monday's trading. He noted that the Standard & Poor's 500 stocks still appear overvalued right now ahead of a fourth-quarter earnings season that most investors are pessimistic about.

"The puzzle pieces are not aligning for the stock market right now," Ablin said.

A warning from the White House to Iran also kept volatility high, following an incident involving that country's forces and three U.S. Navy ships in the Strait of Hormuz on Sunday.

According to preliminary calculations, the Dow Jones industrial average rose 27.31, or 0.21 percent, to 12,827.49, after moving in and out of positive territory throughout the session.

Broader stock indicators ended mixed. The Standard & Poor's 500 index rose 4.55, or 0.32 percent, to 1,416.18, and the tech-focused Nasdaq composite index fell 5.19, or 0.21 percent, to 2,499.46.

It was seventh straight session of losses for the Nasdaq, which greatly outperformed the Dow and the S&P in 2007.

Last week, in just the first three trading days of 2008, the Dow lost 3.50 percent, the S&P 500 index fell 3.86 percent, and the Nasdaq dropped 5.57 percent.

Bond prices continued to rise Monday after a rally during the past week. The yield on the benchmark 10-year Treasury note, which moves opposite its price, dipped to 3.84 percent from 3.87 percent late Friday.

"I have the feeling the market wants to hear some good news, and that one of these days we're going to get it and see a tremendous move higher," said Matt Kelmon, portfolio manager of the Kelmoore Strategy Funds. "We pretty much know the Fed is going to lower rates again, but the real catalyst might come from some of these earnings reports."

A speech on the housing market by Treasury Secretary Henry Paulson Monday offered little in a way of consolation for the market. Paulson said a correction in the housing market is "inevitable and necessary," and that while the Bush administration is working to solve the mortgage crisis, "there is no single or simple solution that will undo the excesses of the last few years."

The potential of conflict with Iran, one of the world's largest oil producers, triggered some concerns that crude prices would build on last week's record $100 a barrel. But instead, oil fell on the belief a cooling global economy will decrease demand for energy.

A barrel of light sweet crude tumbled $2.82 at $95.09 on the New York Mercantile Exchange. The dollar rose against most major currencies, while gold declined.

In corporate news, Time Warner Inc. fell 11 cents to $15.80 after the entertainment company announced it plans to release high-definition movies on Blu-ray rather than Toshiba Corp.'s HD DVD formal. Blu-ray is owned by Sony Corp.

Napster Inc. fell 2 cents to $1.97 after the online music service announced plans to offer downloads as unprotected MP3 files. Previously, users were not able to play Napster downloads on music players.

Technology stocks could fluctuate further as more news comes out of the Consumer Electronics Show, being held in Las Vegas this week.

Krispy Kreme Doughnuts Inc. Chief Executive Daryl Brewster resigned for personal reasons, amid a sputtering turnaround effort for the Winston-Salem, N.C.-based company. Shares rose 32 cents, or 11.3 percent, to $3.15.

There was also management reshuffling at Sallie Mae, which rose $1.16, or 7 percent, to $17.83 after plunging Friday. SLM Corp. named veteran banking industry executive Anthony P. Terracciano chairman, while Albert L. Lord, who was chairman for three weeks, was appointed vice chairman and will remain CEO.

The Russell 2000 index of smaller companies advanced 2.36, or 0.33 percent, to 723.96.

Advancing issues outpaced decliners by 9 to 7 on the New York Stock Exchange, where volume came to 1.71 billion shares.

Overseas, Japan's Nikkei stock average closed down 1.30 percent. Britain's FTSE 100 fell 0.20 percent, Germany's DAX index added 0.11 percent, and France's CAC-40 was up 0.11 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

Hope this meets the standards

Cheers


----------



## bigdog

The Mint Man said:


> Hey ASFers,
> BigDog has gone away for a few weeks and has asked me to post up the yahoo articles for him... so here goes
> 
> Cheers




The Mint Man, many thanks and well done 
--- I would appreciate if you could update until February 1.

Bigdog (four hours behind in Thailand)


----------



## The Mint Man

bigdog said:


> The Mint Man, many thanks and well done
> --- I would appreciate if you could update until February 1.
> Bigdog (four hours behind in Thailand)



No problem bigdog, however I just realised that on fridays I will not be able to post it up in the morning as I start work very early on fridays.... so not sure what to do there.
By the way you picked a good week for me to start doing this all bad news ATM
Possibly we can follow all other markets but the US as they didn't have such a bad day
Anyways....

*NYSE Dow Jones finished today at:*
Source: http://finance.yahoo.com
Sym... Last........ ........Change..........
Dow 12,589.07 -238.42 -1.86% 
Nasdaq 2,440.51 -58.95 -2.36% 
S&P 500 1,390.19 -25.99 -1.84% 
10 Yr Bond(%) 3.8400% +0.0010 

*Overseas*
Overseas, Japan's Nikkei stock average rose 0.19 percent, and Hong Kong's Hang Seng index fell 0.25 percent. Britain's FTSE 100 rose 0.33 percent, Germany's DAX index added 0.42 percent, and France's CAC-40 rose 0.79 percent.

*Europe*
Sym... Last........ ........Change..........
FTSE 100 6,356.50 +20.80 +0.33% 
DAX 7,849.99 +32.82 +0.42% 
CAC 40 5,495.67 +42.84 +0.79% 


*Asia*
Sym... Last........ ........Change..........
Please refer to above, 'Overseas', as Yahoo's Market Summary was showing nil for all.

http://biz.yahoo.com/ap/080108/wall_street.html
*Housing Woes, AT&T News Sink Stocks*
Tuesday January 8, 4:50 pm ET 
By Madlen Read, AP Business Writer  
*Stocks Slide on Worries About Countrywide, AT&T, Pending Home Sales Drop​*
NEW YORK (AP) -- Wall Street skidded lower in another erratic session Tuesday as investors worried that the tumbling economy may not only cripple mortgage lenders like Countrywide Financial Corp., but also create problems for other companies like AT&T Inc. The Dow Jones industrials fell nearly 240 points.

Investors tried to take the market higher at many points during the day, but eventually succumbed to another stream of bad news. All three indexes are down substantially so far this year, having been pummeled since Jan. 1 on worse-than-anticipated readings on the economy.

That could mean that fourth-quarter earnings reports, which start pouring in later this week, may not meet already lowered expectations.

In the morning, the National Association of Realtors said its index tracking pending U.S. home sales fell 2.6 percent in November, a larger decline than the market expected. Jitters about Countrywide and KB Home, which posted a disappointing fourth quarter loss, kept Wall Street on edge throughout the day, and comments by President Bush reiterating the problems facing the economy likely added to the market's uneasiness.

Many traders have been betting recently that Countrywide might need to file for bankruptcy. Countrywide denied that rumor Tuesday, but its stock still plunged 28 percent. Lehman Brothers said in a note that Countrywide's earnings power has declined severely, and The New York Times reported the company fabricated documents related to the bankruptcy case of a Pennsylvania homeowner.

Late in the day, the chief executive of AT&T, speaking at a conference, said the phone company was seeing some slowdown in its consumer businesses, though not in wireless. That was the last straw for the market, and sent stocks and the major indexes tumbling.

The day's abortive advance was due in part to rising hopes that the Federal Reserve, seeing the same bleak economic numbers as Wall Street, will continue its campaign of rate cuts to prevent a recession. The Fed meets Jan. 29-30.

"Anything that talks of contagion spreading to the general economy ... will definitely spook the market," said Joseph V. Battipaglia, chief investment officer at Ryan Beck & Co., referring to the softness AT&T is seeing. "The Fed still has more work to do. They're clearly cutting rates into economic weakness, which to many means that they're somewhat behind the curve. And that's a concern for investors."

According to preliminary calculations, the Dow Jones industrial average fell 238.42, or 1.86 percent, to 12,589.07, after ratcheting up and down through the day.

Broader stock indicators also sank. The Standard & Poor's 500 index dropped 25.99, or 1.84 percent, to 1,390.19, and the Nasdaq composite index, reflecting uneasiness about tech stocks after AT&T's news, declined 58.95, or 2.36 percent, to 2,440.51.

Bond prices showed little movement. The yield on the benchmark 10-year Treasury note, which moves opposite its price, stood at 3.84 percent, flat with late Monday.

Recession fears have been thwarting stock rally attempts so far this year, said Richard Sparks, senior equities analyst at Schaeffer's Investment Research. "It's difficult to balance the ability to cut rates to stave off a recession with the stated goal that the Fed has to not spur inflation. There's a question out there -- can the Fed do enough?"

Last week's Labor Department report showing a rise in unemployment to 5 percent and meager jobs growth suggested to Wall Street that it had been too confident last year in the economy's to shake off a sinking housing market.

Philadelphia Fed President Charles Plosser said in a speech the central bank remains open to further rate reductions, but that inflation remains a concern.

Gold prices surpassed their 1980 levels and reached a record above $880 an ounce Tuesday on the New York Mercantile Exchange, while crude prices resumed their climb, rising $1.24 to $96.33 a barrel.

The dollar fell against most rival currencies, except the yen.

Alcoa Inc. on Wednesday officially kicks off the fourth-quarter earnings season, which investors are pessimistic about.

"The picture doesn't look good right now and the fear is that what we saw through the economic data points last week will be carried through to corporate earnings," said Ryan Larson, senior equity trader with Voyageur Asset Management.

Countrywide fell $5.47, or 28 percent, to $5.47.

KB Home fell $1.70, or 9.2 percent, to $16.78.

AT&T fell $1.87, or 4.6 percent, to $39.16.

Declining issues outnumbered advancers by nearly 2 to 1 on the New York Stock Exchange, where volume came to 1.84 billion shares.

The Russell 2000 index of smaller companies fell 19.09, or 2.64 percent, to 704.86.

Overseas, Japan's Nikkei stock average rose 0.19 percent, and Hong Kong's Hang Seng index fell 0.25 percent. Britain's FTSE 100 rose 0.33 percent, Germany's DAX index added 0.42 percent, and France's CAC-40 rose 0.79 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## barnz2k

The Mint Man said:


> By the way you picked a good week for me to start doing this all bad news ATM
> Possibly we can follow all other markets but the US as they didn't have such a bad day
> Anyways....




Does this mean when Big Dog comes back he will be posting GOOD news??


----------



## The Mint Man

*NYSE Dow Jones finished today at:*
Source: http://finance.yahoo.com
Sym... Last........ ........Change..........
Dow 12,735.31 +146.24 +1.16% 
Nasdaq 2,474.55 +34.04 +1.39% 
S&P 500 1,409.13 +18.94 +1.36% 
10 Yr Bond(%) 3.7910% -0.0490 

*Overseas*
Overseas, Japan's Nikkei stock average closed up 0.49 percent. Britain's FTSE 100 fell 1.32 percent, Germany's DAX index dropped 0.86 percent, and France's CAC-40 fell 1.10 percent.

*Europe*
Sym... Last........ ........Change..........
FTSE 100 6,272.70 -83.80 -1.32% 
DAX 7,782.71 -67.28 -0.86% 

*Asia*
Sym... Last........ ........Change..........
Hang Seng 27,615.85 +502.95 +1.86% 

http://biz.yahoo.com/ap/080109/wall_street.html
*Stocks Close Higher After Late Rally*
Wednesday January 9, 4:40 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks Rebound in Fractious Session As Investors Seek Bargains; Economic Concerns Remain​*
NEW YORK (AP) -- Wall Street finished a back-and-forth session sharply higher Wednesday as investors sought bargains while also contending with concerns about the strength of the economy and upcoming corporate results.

The Nasdaq composite index showed its first gain in nine sessions and the Dow Jones industrial average gained more 200 points in the final 90 minutes of the session to finish nearly 150 points higher.

The gains at the end of a fractious session came ahead of a fourth-quarter report from Alcoa Inc., which marked the unofficial start of earnings season.

Wednesday's session was as choppy as Tuesday's, when stocks tumbled amid concerns about the economy. Unease about the economy has caused intense market volatility since the start of the year, with stocks rising on hopes for more interest rate cuts, and plunging as investors doubt that will be enough. The market is also worried about how fallout from the mortgage and credit crisis has affected corporate earnings.

A prediction of a recession in 2008 by Wall Street's biggest investment bank at times appeared to weigh on investors. Goldman Sachs said it expects fallout from the housing slump and recent tightness in the credit markets will spread to the broader economy this year.

Countrywide Financial Corp. may have added to the seesaw trading, saying Wednesday that the delinquency and foreclosure rate of home loans in its portfolio surged in December. The stock in the nation's largest mortgage lender had fallen sharply Tuesday amid bankruptcy rumors that the company said were baseless. Countrywide fell 35 cents, or 6.4 percent, to $5.12.

Wednesday brought little in the way of economic news and investors instead awaited a speech by Federal Reserve Chairman Ben Bernanke set for Thursday that could give clues about the central bank's stance on the weakening economy.

The up-and-down days on Wall Street are likely to continue as investors grapple with their concerns about the economy, according to Thomas Nyheim, vice president and portfolio manager at Christiana Bank & Trust Co.

"Things are definitely slowing. The problem is, the more and more economists and strategists come out and say things are slowing, you could get a real downturn," he said. He said the market's pullback, however, has left stock prices at more appropriate levels.

According to preliminary calculations, the Dow rose 146.24, or 1.16 percent, to 12,735.31.

Broader stock indicators also rebounded. The Standard & Poor's 500 index rose 18.94, or 1.36 percent, to 1,409.13, and the Nasdaq composite index, which had been down more than 1 percent during the session, finished up 34.04, or 1.39 percent, at 2,474.55.

Declining issues outnumbered advancers by about 3 to 2 on the New York Stock Exchange, where volume came to 2.06 billion shares compared with 1.84 billion shares traded Tuesday.

The rebound Wednesday wasn't large enough to pull the Dow from the realm of a correction, which is a 10 percent drop from a recent high. The blue chip index is still off 10.1 percent from its Oct. 9 high. The S&P 500 is now down 9.97 percent from its high.

Bond prices rose Wednesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.82 percent from 3.84 percent late Tuesday. The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude fell 72 cents to $95.61 a barrel on the New York Mercantile Exchange after a government report showed domestic inventories declined last week.

Alcoa reported after the closing bell that its fourth-quarter profit rose to $632 million, or 75 cents per share, from $359 million, or 41 cents a share, a year earlier. Wall Street had been hoping the results would help indicate how well the economy was holding up. Alcoa, one of the 30 stocks that comprise the Dow industrials, finished up 25 cents to $31.25 and rose to $31.94 in after-hours trading.

Troubled discount brokerage E-Trade Financial Corp., which Tuesday saw shares dip to an all-time low on growing mortgage segment losses, said it sold about $3 billion of mortgage-backed securities and municipal bonds on top of the November sale of its $3 billion asset-backed portfolio. E-Trade rose 15 cents, or 6.7 percent, to $2.40.

Chemical maker DuPont Co. rose $2.03, or 4.8 percent, to $44.78 after raising its fiscal 2007 profit forecast, citing better-than-expected fourth-quarter sales. The company, which makes a wide range of products including automotive coatings and genetically modified seeds, also lifted its forecast for 2008.

James Cayne stepped down as chief executive of Bear Stearns Cos. He was replaced by Bear Stearns President Alan Schwartz, a 57-year-old investment banker respected for his dealmaking savvy. Bear Stearns rose $3.65, or 5.1 percent, to $74.82.

The Russell 2000 index of smaller companies rose 7.26, or 1.03 percent, to 712.12.

Overseas, Japan's Nikkei stock average closed up 0.49 percent. Britain's FTSE 100 fell 1.32 percent, Germany's DAX index dropped 0.86 percent, and France's CAC-40 fell 1.10 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

Cheers


----------



## The Mint Man

barnz2k said:


> Does this mean when Big Dog comes back he will be posting GOOD news??



At last..... I actually felt sort of good about posting this up:bowdown:


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The NYSE DOW closed HIGHER by +117.78 points	+0.92% on Thursday 10:*

Sym Last........ ........Change..........
Dow	12,853.09	+117.78	+0.92%
Nasdaq	2,488.52	+13.97	+0.56%
S&P 500	1,420.33	+11.20	+0.79%
30-yr Bond	4.4440%	+0.1230

NYSE Volume	5,132,240,500
Nasdaq Volume	2,640,403,500

*Overseas*
Japan's Nikkei stock average fell 1.45 percent. 

Britain's FTSE 100 fell 0.80 percent, Germany's DAX index dropped 0.89 percent, and France's CAC-40 declined 0.64 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,222.70	-50.00	-0.80%
DAX	7,713.09	-69.62	-0.89%
CAC-40	5,400.43	-34.99	-0.64%	

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	14,388.11	-211.05	-1.45%
Hang Seng	27,230.86	-384.99	-1.39%
Straits Times	3,344.53	

*Australia	*
ASX All Ords	6,147.30	-12.20	-0.20% 

http://biz.yahoo.com/ap/080110/wall_street.html
*Stocks Rise on Potential Countrywide Buy*
Thursday January 10, 5:20 pm ET
By Madlen Read, AP Business Writer
*Stocks Rise on Report That Bank of America Is in Advanced Talks to Buy Countrywide*

NEW YORK (AP) -- A volatile Wall Street advanced Thursday for the second day in a row, as investors found renewed confidence in a report that Bank of America Corp. is close to buying struggling mortgage lender Countrywide Financial Corp.

After seesawing earlier in the day, the Dow Jones industrials finished up nearly 120 points on the afternoon report from The Wall Street Journal. The stock market has been buffeted by concerns about fallout from the mortgage and credit crisis. Countrywide's problems with delinquent and defaulting loans have sent stocks falling even in recent days.

"For the last month, rumors are that Countrywide was going into bankruptcy," said Ryan Larson, senior trader at Voyageur Asset Management. "Any deal with Bank of America is good news, and the market is looking for even a hint of good news these days."

Credit concerns were one reason the market waffled in earlier trading, with investors trying to reconcile comments on the economy from Federal Reserve Chairman Ben Bernanke and Kansas City Fed President Thomas Hoenig.

Stocks jumped after Bernanke said the Fed was ready to lower interest rates again to ward off a recession: "We stand ready to take substantive additional action as needed to support growth and to provide adequate insurance against downside risks," Bernanke said.

But they bobbled up and down before turning narrowly mixed after Hoenig said later that inflation remains a concern and the stock market is "not the center of our attention." The comments kept alive fears that the Fed may not respond to investor concerns even as it monitors the weakening economy.

Jim Herrick, manager of equity trading at Baird & Co., said many investors have been betting for some time that the Fed will lower rates by a half-point at their next meeting, so Bernanke's comments are hardly surprising. "There's still subprime issues. We still have concerns about earnings, and the mortgage market."

Furthermore, Wall Street is worried that it will take a lot more than rate cuts to restore economic momentum.

The Dow Jones industrial average rose 117.78, or 0.92 percent, to 12,853.09.

Broader stock indicators also rebounded. The Standard & Poor's 500 index rose 11.20, or 0.79 percent, to 1,420.33, while the technology-heavy Nasdaq composite index rose 13.97, or 0.56 percent, to 2,488.52.

Bond prices fell as stocks rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.88 percent, up from 3.83 percent late Wednesday.

The stock market has rebounded over the past two days in volatile trading, having fallen sharply since the beginning of the year on worries about a recession. Some observers say the rush of corporate news expected in the coming weeks could overshadow discussions about the Fed, whose rate-setting committee isn't scheduled to meet again until Jan. 29-30.

Anthony Conroy, managing director and head trader for BNY ConvergEx Group, said that while Fed comments move the market in the short-term, "for the next couple of weeks, though, take a hard look at earnings."

The weakest sector over last few quarters has been the financial sector, which is why the possible buy of Countrywide by Bank of America -- which invested $2 billion in the lender back in August -- came as a relief, suggesting to investors that some banks are strong enough to come to the aid of others.

Countrywide surged $2.63, or 51.3 percent, to $7.75, and Bank of America rose 56 cents to $39.30.

The industry has a lot more recovery ahead of it, though.

Capital One Financial Corp. said Thursday it is taking a $1.9 billion provision for loan losses in the fourth quarter, including about $1.3 billion in charge-offs. The announcement confirmed fears of some analysts that the erosion of the subprime mortgage market has hurt other credit classes. Capital One fell 43 cents to $42.92.

The Russell 2000 index of smaller companies rose 8.09, or 1.14 percent, to 720.21.

Advancing issues outnumbered decliners by more than 2 to 1 on the New York Stock Exchange, where volume came to 2.06 billion shares.

The dollar fell against other major currencies. Gold rose to another record on the New York Mercantile Exchange, while crude oil fell $1.96 to $93.71 a barrel.

Overseas, Japan's Nikkei stock average fell 1.45 percent. Britain's FTSE 100 fell 0.80 percent, Germany's DAX index dropped 0.89 percent, and France's CAC-40 declined 0.64 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed LOWER by -246.79 points	-1.92% on Friday 11:

The Dow Jones industrial average ended the week down 193.88, or 1.51 percent, at 12,606.30. The Standard & Poor's 500 index finished down 10.60, or 0.75 percent, at 1,401.02. The Nasdaq composite index ended down 64.71, or 2.58 percent, at 2,439.94.

Sym Last........ ........Change..........
Dow	12,606.30	-246.79	-1.92%
Nasdaq	2,439.94	-48.58	-1.95%
S&P 500	1,401.02	-19.31	-1.36%
30-yr Bond	4.3940%	-0.0500

NYSE Volume	4,497,822,000
Nasdaq Volume	2,403,707,250

*Overseas*
Japan's Nikkei stock average closed down 1.93 percent. 

Britain's FTSE 100 closed down 0.33 percent, Germany's DAX index rose 0.06 percent, and France's CAC-40 fell 0.54.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,202.00	-20.70	-0.33%
DAX	7,717.95	+4.86	+0.06%
CAC 40	5,371.41 -29.02	-0.54%	

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	14,110.79	-277.32	-1.93%
Hang Seng	26,867.01	-363.85	-1.34%
Straits Times	3,344.53	+3,344.53	0.00%

*Australia*
Symbol.. Last...... ...Change.......
ASX 100	4,835.30 -77.60	-1.58%		
ASX All Ords	6,054.40 -92.90	-1.51%

http://biz.yahoo.com/ap/080111/wall_street.html
*Stocks Slammed by Bad Credit Fears*
Friday January 11, 6:08 pm ET
By Tim Paradis, AP Business Writer
*Stocks Fall Sharply Amid Worries Over Investment Bank Writedowns, Anxiety About Earnings*

NEW YORK (AP) -- Wall Street plunged again Friday amid renewed fears that the financial sector's troubles with bad credit won't soon end and that some consumers are buckling under the weight of a slowing economy. The major indexes each lost more than 1 percent, including the Dow Jones industrials, which finished down nearly 250 points.

The arrival of quarterly earnings reports has investors worried about how banks and brokerages have fared after suffering losses in the collapse of the subprime mortgage market. Traders appeared to grow more pessimistic ahead of reports due next week from the nation's biggest financial institutions. Merrill Lynch & Co., Citigroup Inc. and JPMorgan Chase & Co. are slated to weigh in next week.

Adding to investors' unease, Merrill Lynch might take a $15 billion hit from its exposure to soured subprime mortgage investments, according to The New York Times. The nation's largest brokerage is also said to be seeking another capital infusion to help shore up its balance sheet.

Investors also grew nervous after American Express Corp. warned that slower spending and more delinquencies on credit card payments will hamper profit throughout 2008. A profit warning from Tiffany & Co. added to Wall Street's unease about the fortitude of the consumer.

"When Amex comes out and says that some of their well-to-do cardholders are having problems making payments that's just not good news," said Brandon Thomas, chief investment officer of Portfolio Management Consultants, the investment arm of Envestnet Asset Management.

Friday's session revealed the extent of misgivings about Wall Street's efforts to sew up its troubles. Bank of America Corp. agreed Friday to buy Countrywide Financial Corp. for $4 billion, a deal that rescues the country's largest mortgage lender but pays less than the company's market value.

The agreement comes after word of the move Thursday and just months after BofA invested $2 billion in Countrywide. Some investors apparently hoped Countrywide would fetch a premium, though some observers said a tie-up was a better alternative than bankruptcy, rumors of which dogged the company during the week.

Michael Church, portfolio manager at Church Capital Management, said news from the financials is weighing on Wall Street, although he said investors shouldn't be surprised by the extent of the troubles.

"The financials are going to continue to be a problem," he said.

The Dow fell 246.79, or 1.92 percent, to 12,606.30. The Dow had been down more than 300 points in the last hour.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 19.31, or 1.36 percent, to 1,401.02, and the Nasdaq composite index fell 48.58, or 1.95 percent, to 2,439.94.

Stocks have skidded lower in the new year, with the Dow often falling by triple digits in a single session amid anxiety about a possible recession as well as the still-unfolding fallout from the mortgage crisis.

The Dow is down 4.96 percent for the year, the S&P is off 4.59 percent, and the Nasdaq has lost 8.01 percent.

"I think we're going to see this volatility at least through the end of the earnings season," Thomas said.

Bond prices rose as stocks retreated. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.79 percent late Friday from 3.88 percent late Thursday. The dollar was mixed against other major currencies, while gold prices rose to a fresh record.

Oil prices were pressured by gains for the dollar against the euro and pound. Crude oil is a dollar-denominated commodity and tends to decline in value when the dollar rises. This is because it takes less money to buy the same amount. A barrel of light, sweet crude for February settled down $1.02 at $92.69 on the New York Mercantile Exchange.

Washington Mutual Inc. jumped 53 cents, or 3.7 percent, to $14.69 after CNBC reported JPMorgan is in talks to acquire the nation's largest savings and loan. JPMorgan fell 47 cents to $40.86.

Bank of America fell 80 cents, or 2 percent, to $38.50, while Countrywide fell $1.42, or 18 percent, to $6.33.

American Express fell $4.92, or 10.1 percent, to $44 and was the biggest decliner among the 30 stocks that comprise the Dow industrials. McDonald's Corp., also part of the Dow, fell $3.85, or 6.6 percent, to $54.32 after a Friedman Billings Ramsay analyst expressed doubt about the company's future earnings.

Traders showed little reaction to a Commerce Department report that higher energy prices drove the nation's trade deficit in November to its highest level in more than a year. The government said the gap shot up 9.3 percent to $63.1 billion, the widest since September 2006 and up from $57.8 billion in October. Economists surveyed by Thomson/IFR Markets forecast a trade gap of $58.6 billion.

Separately, there was good news on inflation in December, when import prices were unchanged, the Labor Department said.

Federal Reserve Governor Frederic Mishkin said the Fed will act decisively to counter risks to the economy and added that swift rate cuts can hasten the economy's return to normal. But Mishkin also said the financial markets are overly focused on the central bank's actions.

Boston Fed President Eric Rosengren said housing price declines could accelerate this year if the economy is not strong. Mishkin and Rosengren followed Fed Chairman Ben Bernanke, who on Thursday made clear in a speech that the central bank is poised to cut interest rates later this month.

Declining issues outnumbered advancers by about 2 to 1 on the New York Stock Exchange, where consolidated volume came to 4.3 billion shares, compared with 5.03 billion traded Thursday.

The Russell 2000 index of smaller companies fell 15.56, or 2.16 percent, to 704.65.

Overseas, Japan's Nikkei stock average closed down 1.93 percent. Britain's FTSE 100 closed down 0.33 percent, Germany's DAX index rose 0.06 percent, and France's CAC-40 fell 0.54.

The Dow Jones industrial average ended the week down 193.88, or 1.51 percent, at 12,606.30. The Standard & Poor's 500 index finished down 10.60, or 0.75 percent, at 1,401.02. The Nasdaq composite index ended down 64.71, or 2.58 percent, at 2,439.94.

The Russell 2000 index finished the week down 16.95, or 2.35 percent, at 704.65.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 14,042.54, down 168.30 points, or 1.18 percent, for the week. A year ago, the index was at 14,350.24.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## The Mint Man

*NYSE Dow Jones finished today at:*
Source: http://finance.yahoo.com
Sym... Last........ ........Change..........
Dow 12,606.30 -246.79 -1.92% 
Nasdaq 2,439.94 -48.58 -1.95% 
S&P 500 1,401.02 -19.31 -1.36% 
10 Yr Bond(%) 3.81% -0.08 


*Week ending*
The Dow Jones industrial average ended the week down 193.88, or 1.51 percent, at 12,606.30. The Standard & Poor's 500 index finished down 10.60, or 0.75 percent, at 1,401.02. The Nasdaq composite index ended down 64.71, or 2.58 percent, at 2,439.94.

*Overseas*
Overseas, Japan's Nikkei stock average closed down 1.93 percent. Britain's FTSE 100 closed down 0.33 percent, Germany's DAX index rose 0.06 percent, and France's CAC-40 fell 0.54.

*Europe*
Sym... Last........ ........Change..........
FTSE 100 6,202.00 -20.70 -0.33% 
DAX 7,717.95 +4.86 +0.06% 

*Asia*
Sym... Last........ ........Change..........
Nikkei 225 14,110.79 -277.32 -1.93% 
Hang Seng 26,867.01 -363.85 -1.34% 

*Stocks Slammed by Bad Credit Fears*
Friday January 11, 6:08 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks Fall Sharply Amid Worries Over Investment Bank Writedowns, Anxiety About Earnings​*

NEW YORK (AP) -- Wall Street plunged again Friday amid renewed fears that the financial sector's troubles with bad credit won't soon end and that some consumers are buckling under the weight of a slowing economy. The major indexes each lost more than 1 percent, including the Dow Jones industrials, which finished down nearly 250 points.

The arrival of quarterly earnings reports has investors worried about how banks and brokerages have fared after suffering losses in the collapse of the subprime mortgage market. Traders appeared to grow more pessimistic ahead of reports due next week from the nation's biggest financial institutions. Merrill Lynch & Co., Citigroup Inc. and JPMorgan Chase & Co. are slated to weigh in next week.

Adding to investors' unease, Merrill Lynch might take a $15 billion hit from its exposure to soured subprime mortgage investments, according to The New York Times. The nation's largest brokerage is also said to be seeking another capital infusion to help shore up its balance sheet.

Investors also grew nervous after American Express Corp. warned that slower spending and more delinquencies on credit card payments will hamper profit throughout 2008. A profit warning from Tiffany & Co. added to Wall Street's unease about the fortitude of the consumer.

"When Amex comes out and says that some of their well-to-do cardholders are having problems making payments that's just not good news," said Brandon Thomas, chief investment officer of Portfolio Management Consultants, the investment arm of Envestnet Asset Management.

Friday's session revealed the extent of misgivings about Wall Street's efforts to sew up its troubles. Bank of America Corp. agreed Friday to buy Countrywide Financial Corp. for $4 billion, a deal that rescues the country's largest mortgage lender but pays less than the company's market value.

The agreement comes after word of the move Thursday and just months after BofA invested $2 billion in Countrywide. Some investors apparently hoped Countrywide would fetch a premium, though some observers said a tie-up was a better alternative than bankruptcy, rumors of which dogged the company during the week.

Michael Church, portfolio manager at Church Capital Management, said news from the financials is weighing on Wall Street, although he said investors shouldn't be surprised by the extent of the troubles.

"The financials are going to continue to be a problem," he said.

The Dow fell 246.79, or 1.92 percent, to 12,606.30. The Dow had been down more than 300 points in the last hour.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 19.31, or 1.36 percent, to 1,401.02, and the Nasdaq composite index fell 48.58, or 1.95 percent, to 2,439.94.

Stocks have skidded lower in the new year, with the Dow often falling by triple digits in a single session amid anxiety about a possible recession as well as the still-unfolding fallout from the mortgage crisis.

The Dow is down 4.96 percent for the year, the S&P is off 4.59 percent, and the Nasdaq has lost 8.01 percent.

"I think we're going to see this volatility at least through the end of the earnings season," Thomas said.

Bond prices rose as stocks retreated. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.79 percent late Friday from 3.88 percent late Thursday. The dollar was mixed against other major currencies, while gold prices rose to a fresh record.

Oil prices were pressured by gains for the dollar against the euro and pound. Crude oil is a dollar-denominated commodity and tends to decline in value when the dollar rises. This is because it takes less money to buy the same amount. A barrel of light, sweet crude for February settled down $1.02 at $92.69 on the New York Mercantile Exchange.

Washington Mutual Inc. jumped 53 cents, or 3.7 percent, to $14.69 after CNBC reported JPMorgan is in talks to acquire the nation's largest savings and loan. JPMorgan fell 47 cents to $40.86.

Bank of America fell 80 cents, or 2 percent, to $38.50, while Countrywide fell $1.42, or 18 percent, to $6.33.

American Express fell $4.92, or 10.1 percent, to $44 and was the biggest decliner among the 30 stocks that comprise the Dow industrials. McDonald's Corp., also part of the Dow, fell $3.85, or 6.6 percent, to $54.32 after a Friedman Billings Ramsay analyst expressed doubt about the company's future earnings.

Traders showed little reaction to a Commerce Department report that higher energy prices drove the nation's trade deficit in November to its highest level in more than a year. The government said the gap shot up 9.3 percent to $63.1 billion, the widest since September 2006 and up from $57.8 billion in October. Economists surveyed by Thomson/IFR Markets forecast a trade gap of $58.6 billion.

Separately, there was good news on inflation in December, when import prices were unchanged, the Labor Department said.

Federal Reserve Governor Frederic Mishkin said the Fed will act decisively to counter risks to the economy and added that swift rate cuts can hasten the economy's return to normal. But Mishkin also said the financial markets are overly focused on the central bank's actions.

Boston Fed President Eric Rosengren said housing price declines could accelerate this year if the economy is not strong. Mishkin and Rosengren followed Fed Chairman Ben Bernanke, who on Thursday made clear in a speech that the central bank is poised to cut interest rates later this month.

Declining issues outnumbered advancers by about 2 to 1 on the New York Stock Exchange, where consolidated volume came to 4.3 billion shares, compared with 5.03 billion traded Thursday.

The Russell 2000 index of smaller companies fell 15.56, or 2.16 percent, to 704.65.

Overseas, Japan's Nikkei stock average closed down 1.93 percent. Britain's FTSE 100 closed down 0.33 percent, Germany's DAX index rose 0.06 percent, and France's CAC-40 fell 0.54.

The Dow Jones industrial average ended the week down 193.88, or 1.51 percent, at 12,606.30. The Standard & Poor's 500 index finished down 10.60, or 0.75 percent, at 1,401.02. The Nasdaq composite index ended down 64.71, or 2.58 percent, at 2,439.94.

The Russell 2000 index finished the week down 16.95, or 2.35 percent, at 704.65.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 14,042.54, down 168.30 points, or 1.18 percent, for the week. A year ago, the index was at 14,350.24.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## The Mint Man

*NYSE Dow Jones finished today at:*
Source: http://finance.yahoo.com
Sym... Last........ ........Change..........
Dow 12,778.15 +171.85 +1.36% 
Nasdaq 2,478.30 +38.36 +1.57% 
S&P 500 1,416.25 +15.23 +1.09% 
10 Yr Bond(%) 3.79% -0.02 

*Overseas*
Overseas, the Tokyo stock market was closed for a holiday Monday. In Europe London's FTSE 100 rose 0.22 percent, Germany's DAX advanced 0.18 percent and Paris' CAC 40 gained 0.60 percent.

*Europe*
Sym... Last........ ........Change..........
FTSE 100 6,215.70 +13.70 +0.22%  
DAX 7,732.02 +14.07 +0.18% 

*Asia*
Sym... Last........ ........Change..........
Hang Seng 26,468.13 -398.88 -1.48% 

*Stocks Rally on Robust IBM Results*
Monday January 14, 4:22 pm ET 
By Leslie Wines, AP Business Writer  
*Wall Street Advances Sharply After IBM Earnings Forecast Lifts Hopes for Earnings Season​*

NEW YORK (AP) -- Wall Street advanced sharply Monday, with solid preliminary results from IBM encouraging investors to go back into the stock market after last week's rout.
International Business Machines Corp., one of the 30 Dow Jones industrials, released preliminary earnings estimates for the fourth quarter that were 24 percent above year-earlier levels. The results also beat the forecast of analysts surveyed by Thomson Financial.

After falling nearly 250 points on Friday, the Dow rose more than 170 points Monday.

"The market was pretty oversold," said Richard E. Cripps, chief market strategist for Stifel Nicolaus. "We were due to bounce back, and the IBM news didn't hurt."

IBM's news, coming before as earnings season is about the get under way in earnest, did raise some hopes that fourth-quarter results might not be as bad as feared.

Investors also moved back into financial services stocks ahead of Citigroup Inc. earnings on Tuesday and Merrill Lynch & Co.'s report on Thursday. It is expected both companies will announce further capital injections to stanch bigger-than-feared mortgage-related losses.

According to preliminary calculations, the Dow gained 171.85, or 1.36 percent, to 12,778.15. IBM was the biggest gainer in the Dow, rising $5.26, or 5.4 percent, to $102.93.

Broader stock indicators also rose. The Standard & Poor's 500 index added 15.23, or 1.09 percent, to 1,416.25 and the Nasdaq composite index shot up 38.36, or 1.57 percent, to 2,478.30.

Treasurys were trending slightly higher after fluctuating. The yield on the benchmark 10-year Treasury note was 3.79 percent, down from 3.81 percent late Friday. Prices and yields trade in opposite directions.

With no major economic data on the calendar, investors focused on corporate and commodities news. Gold futures hit a record, briefly venturing above $913 an ounce as the dollar tumbled against other major currencies. The euro reached a new high above $1.49.

Other commodities were higher, too. Crude oil rose $1.51 to settle at $94.20 a barrel on the New York Mercantile Exchange.

Peter Dunay, investment strategist at Leeb Capital Management, believes the run in commodities prices will continue as Wall Street eyes what the Federal Reserve will do at its Jan. 29-30 meeting. Chairman Ben Bernanke has convinced investors the central bank will cut rates, and the expectation of cheaper money also bolstered sentiment Monday

"We're expecting inflation to be a problem, and believe the commodity demand is going to continue," Dunay said. "We think the Fed is going to throw as much money as they can to keep us out of recession, or keep the recession mild, so commodities will be higher."

Stocks sold off sharply last week after a chorus of Wall Street economists predicted the U.S. is about to slide into a recession. The Dow lost 1.51 percent during the week, the S&P 500 dropped 0.75 percent and the Nasdaq gave up 2.58 percent. However, a recession cannot be declared until there are two quarters in a row of economic shrinkage as measured by gross domestic product data, and that has not occurred yet.

In corporate news, General Motors Corp. Chief Financial Officer Fritz Henderson said that although the GMAC finance wing's auto loan delinquencies were up slightly in the third quarter from year-before levels, the problems for auto loans were not nearly as severe as the credit troubles in the real estate sector. GM sold control of GMAC in 2006 but still owns a large minority stake. GM rose 19 cents to $23.69.

Sears Holdings Corp. warned that its upcoming fourth-quarter report could show a decline as high as 51 percent from year-earlier levels, adding to concerns that economic weakness is slowing the retail sector. The company Monday forecast a result of $2.59 to $3.48 a share, which would be down from $5.33 a year before and a Thomson Financial forecast of $4.43 a share. Sears fell $4.79, or 5 percent, to $91.38.

Advancing issues outnumbered decliners by about 2 to 1 on the New York Stock Exchange, where volume came to 1.27 billion shares.

The Russell 2000 index of smaller companies rose 7.83, or 1.11 percent, to 712.48.

Overseas, the Tokyo stock market was closed for a holiday Monday. In Europe London's FTSE 100 rose 0.22 percent, Germany's DAX advanced 0.18 percent and Paris' CAC 40 gained 0.60 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com



Glad to bring some more good news guys, Dow up, POO up, POG up (infact hit record of $910), other commodities up makes me happy

Cheers


----------



## The Mint Man

*NYSE Dow Jones finished today at:*
Source: http://finance.yahoo.com
Sym... Last........ ........Change..........
Dow 12,501.11 -277.04 -2.17% 
Nasdaq 2,417.59 -60.71 -2.45% 
S&P 500 1,380.95 -35.30 -2.49% 
10 Yr Bond(%) 3.7010% -0.0920 

*Overseas*
Overseas, Japan's Nikkei stock average fell 0.98 percent. Britain's FTSE 100 closed down 3.06 percent, Germany's DAX index fell 2.14 percent, and France's CAC-40 lost 2.83 percent.

*Europe*
Sym... Last........ ........Change..........
FTSE 100 6,025.60 -190.10 -3.06% 
DAX 7,566.38 -165.64 -2.14% 

*Asia*
Sym... Last........ ........Change..........
Hang Seng 25,837.78 -630.35 -2.38% 

http://biz.yahoo.com/ap/080115/wall_street.html
*Stocks Fall Sharply on Economic Worries*
Tuesday January 15, 4:26 pm ET 
By Leslie Wines, AP Business Writer  
*Wall Street Plunges As Weak Economic, Earnings Figures Stir More Concerns About Recession​*

NEW YORK (AP) -- A growing conviction that the U.S. is headed toward recession sent Wall Street plunging Tuesday, with weak retail sales figures and a disappointing quarterly report from Citigroup Inc. exacerbating investors' pessimistic mood. The Dow Jones industrials fell nearly 280 points. 

Investors backed away from stocks amid growing concerns that consumer spending will wane this year and contribute to an economic downturn. The latest evidence that consumers are retrenching came from the Commerce Department, which said retail sales fell in December and which also revised its November figures lower. Spending by consumers, which accounts for more than two-thirds of U.S. economic activity, has been key to staving off economic slowdowns in recent years.

There is also a growing fear that the Federal Reserve hasn't done enough to keep the economy going -- especially as investors continue to see the fallout from the summer's subprime mortgage crisis. Citigroup, the nation's biggest bank, announced on Tuesday a hefty $18.1 billion write-down for bad mortgage assets and slashed its dividend.

Brian Gendreau, investment strategist for ING Investment Management, said the market is now seeing "a decisive shift" toward a recession.

"The sectors that are outperforming are defensive plays, like consumer staples," he said. "People don't buy them unless you're worried about sustained weakness."

Investors have sold stocks lower so far this year on increasing worries about the economy. According to preliminary calculations, the Dow fell 277.04, or 2.17 percent, to 12,501.11.

Broader stock indicators also lost ground. The Standard & Poor's 500 index dropped 35.30, or 2.49 percent, to 1,380.95, and the Nasadaq composite index lost 60.71, or 2.45 percent, closing at 2,417.59.

Declining issues outnumbered advancers by about 3 to 1 on the New York Stock Exchange, where volume came to 1.53 billion shares.

Bond price rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.69 percent, close to its lowest point since March 2004 and down from 3.77 percent late Monday. The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude fell $2.30 to settle at $91.90 per barrel on the New York Mercantile Exchange.

Tuesday's trading, which more than wiped out Monday's triple-digit gain in the Dow, showed the depths of the market's pessimism amid increasing signs that the economy is weakening. Many investors, heeding warnings of some economists, fear the country is headed toward recession, and a stream of disappointing economic data like Tuesday's retail sales data is reinforcing those fears.

In just the 10 trading days of 2008, the Dow has fallen 5.76 percent, while the S&P 500 is down 5.95 percent and the Nasdaq has lost 8.85 percent.

"When consumers are beaten over the head about how bad things are, pretty soon they believe it and that affects their spending habits," said Scott Wren, equity strategist for A.G. Edwards & Sons. "And when there's a lot of uncertainty out there, the Fed needs to be a little more aggressive -- I think they need to cut more than just at this next meeting."

Still, hopes for a rate cut weren't enough to calm Wall Street.

He said the worrisome fall in retail sales, which also pressures the dollar, builds a case that the cut will be at least 0.50 percentage point. It also increases the likelihood of further cuts after the central bank's Jan. 29-30 meeting.

Adding to investors' concerns, the New York Federal Reserve's Empire State survey of regional manufacturing showed a drop to 9.03 this month from 9.80 in December.

But there was some relief about inflation. Producer prices fell 0.1 percent, according to the Labor Department. The result was smaller than the 0.2 percent drop expected by economists, but all declines in price pressure are generally good news. Excluding food and energy, producer prices gained 0.2 percent, matching expectations.

Financial services stocks were among the biggest influences on investors during Tuesday's session. Citigroup's drastic efforts to shore up its balance sheet had been widely expected, but it still was a forceful reminder of the serious problems that bad lending practices have created for financial services firms.

Citigroup, which lost $9.83 billion in the fourth quarter, also announced a massive $12.5 billion capital injection. Hope that struggling financial firms will bolster their finances also was stirred by news that Merrill Lynch & Co. Inc. agreed that three foreign investment funds will invest $6.6 billion in the Wall Street firm.

Citi fell $2.21, or 7.6 percent, to $26.85. Merrill -- which reports results on Thursday -- fell $2.96, or 5.3 percent, to $53.01.

The Russell 2000 index of smaller companies fell 15.05, or 2.11 percent, to 697.43.

Overseas, Japan's Nikkei stock average fell 0.98 percent. Britain's FTSE 100 closed down 3.06 percent, Germany's DAX index fell 2.14 percent, and France's CAC-40 lost 2.83 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## The Mint Man

*NYSE Dow Jones finished today at:*
Source: http://finance.yahoo.com
Sym... Last........ ........Change..........
Dow 12,466.16 -34.95 -0.28% 
Nasdaq 2,394.59 -23.00 -0.95% 
S&P 500 1,373.20 -7.75 -0.56% 
10 Yr Bond(%) 3.7120% +0.0110 

*Overseas*
In overseas trade, Japan's Nikkei gave up 3.35 percent. London's FTSE 100 finished down 1.37 percent, Frankfurt's DAX fell 1.25 percent and Paris' CAC fell 0.48 percent.

*Europe*
Sym... Last........ ........Change..........
FTSE 100 5,942.90 -82.70 -1.37% 
DAX 7,471.57 -94.81 -1.25% 
CAC 40 5,225.39 -25.43 -0.48% 


*Asia*
Sym... Last........ ........Change..........
Hang Seng 24,450.85 -1,386.93 -5.37% 

http://biz.yahoo.com/ap/080116/wall_street.html
*Economic Concerns Weigh on Stocks*
Wednesday January 16, 4:27 pm ET 
By Tim Paradis, AP Business Writer  
*Wall Street Finishes Lower After Intel Earnings; Fed Report Shows Modest Economic Growth​*
NEW YORK (AP) -- Wall Street staggered through another volatile session Wednesday, finally closing mostly lower after a Federal Reserve report showed some economic growth at the end of 2007 and after Intel Corp.'s disappointing profit report.

Stocks gave up a modest rally in the final 20 minutes of trading, continuing the fluctuations seen throughout the session as investors combed corporate profit reports and economic news that supported varying views about the soundness of the economy.

Stocks initially gained after the Fed report -- its Beige Book survey of regional economies -- suggested economic activity increased modestly from mid-November through December, though at a slower pace than in a previous survey.

The report seemed to quell some concerns about prospects for the economy that took on fresh urgency after Intel Corp. issued disappointing earnings after the closing bell Tuesday.

The Fed's report bolstered enthusiasm among bullish investors who pointed to better-than-expected results from JPMorgan Chase & Co. and Wells Fargo & Co. The banks' reports appeared to remind Wall Street that while the fallout of souring loans was widespread, it wasn't necessarily evenly felt. And buyout news in the tech sector also gave a boost to sentiment.

"I think the market is trying to find some kind of a correction point," said Subodh Kumar, global investment strategist at Subodh Kumar & Assoc. in Toronto. "The talk on Wall Street has been about recession. Maybe the Beige Book has underscored that the U.S. is in a slowdown but that it doesn't look like precipitous one."

According to preliminary calculations, the Dow Jones industrial average fell 34.95, or 0.28 percent, to 12,466.16.

Broader stock indicators also fell. The Standard & Poor's 500 index declined 7.75, or 0.56 percent, to 1,373.20, and the Nasdaq composite index fell 23.00, or 0.95 percent, to 2,394.59.

Investors remained edgy Wednesday, particularly after a drop Tuesday that took the Dow down nearly 280 points. Predictions by some economists that a recession is at hand have rattled Wall Street in recent weeks.

Intel was by far the biggest decliner among the 30 stocks that make up the Dow and also weighed on the tech-dominated Nasdaq. The chip maker fell 70 cents, or 12.4 percent, to $19.88.

Advancing issues narrowly outpaced decliners 2 on the New York Stock Exchange, where volume came to 2.11 billion shares compared with 1.53 billion traded Tuesday.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.73 percent from 3.68 percent late Tuesday. The dollar fell against most other major currencies -- hitting a 2 1/2-year low against the yen -- but rose against the euro. Gold prices, which have hit record levels in recent sessions, eased.

Light, sweet crude settled down $1.06 at $90.84 per barrel on the New York Mercantile Exchange after the government reported that domestic oil supplies rose unexpectedly last week. During the session oil fell below $90 for the first time since Dec. 19.

Intel's failure to meet forecasts for the fourth quarter, along with first-quarter projections that came in at the low end of analysts' predictions, weighed on technology stocks. Earlier this week, there was market speculation that the technology sector, which sometimes benefits from a weak dollar and overseas strength, might be able to better withstand an economic slowdown in the U.S.

The tech arena did see some cheer Wednesday, thanks to Oracle Corp.'s deal to buy BEA Systems Inc. for about $7.85 billion. Last year BEA rejected a less expensive bid from Oracle, which raised its offer but not to the level sought by BEA.

Kumar contends markets will remain jumpy as Wall Street sorts out its concerns about the economy as well as the troubles with bad debt.

"Volatility will probably remain high into midyear because analyst expectations are coming down quite rapidly and we're in the eye of the storm as far as credit write-downs go for banks," he said.

Beyond the Beige Book, which arrived two weeks before the Fed's next meeting, other economic news added to Wall Street's concerns. The Labor Department also said inflation jumped by the highest amount in 17 years in 2007 amid a spike in energy and food costs. Excluding those areas, so-called core inflation remained relatively stable.

Consumer prices in December rose 0.3 percent, while core inflation showed a 0.2 percent advance. Analysts had expected both figures to rise 0.2 percent, according to Thomson/IFR.

The Fed, in setting monetary policy, is known to pay closer attention to the core rate. In any case, investors appear more worried about the prospect of slower growth than that of higher inflation.

In addition, Fed Chairman Ben Bernanke already has sent strong signals that another rate cut is on the way. The Fed's next monetary policy meeting is Jan. 29-30, though some investors have debated whether the central bank would step in and cut rates before then.

The Fed said Wednesday that output at the nation's factories, mines and utilities was flat in December. Wall Street had expected industrial production to show a 0.2 percent decline. The reading wasn't necessarily downbeat. Had output risen, it could have reassured some investors about the state of the economy but also perhaps stirred concerns about inflation.

JPMorgan offered a first-quarter earnings report that revealed relatively light exposure to the faltering subprime loans as it booked a write-down of $1.3 billion, which was smaller than the massive losses of peers like Citigroup Inc. Citi on Tuesday said it swung to a loss of nearly $10 billion in the fourth quarter after booking a write-down of $18.1 billion for bad bets tied to the mortgage industry.

Despite its relatively strong results, JPMorgan warned of difficult conditions this year and said problems with home equity loans dented profits and underscored mounting pressures in consumer lending. JPMorgan rose $2.26, or 5.8 percent, to $41.43, while Citi, fell 70 cents, or 2.6 percent, to $26.24 after losing 7.6 percent Tuesday. Both JPMorgan and Citi are components of the Dow.

Wells Fargo revealed its first decline in profits in more than six years and also cited rising losses on home equity loans. But the company, one of the nation's largest banks, largely sidestepped the write-downs that many other banks have been forced to make. Wells Fargo rose 88 cents, or 3.3 percent, to $27.37.

BEA Systems Inc. jumped $2.88, or 19 percent, to $18.46 after word of its deal. Oracle rose 61 cents, or 3 percent, to $21.92.

The Russell 2000 index of smaller companies rose 2.48 percent, or 0.36 percent, to 699.91.

In overseas trade, Japan's Nikkei gave up 3.35 percent. London's FTSE 100 finished down 1.37 percent, Frankfurt's DAX fell 1.25 percent and Paris' CAC fell 0.48 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## The Mint Man

I know I'm still waking up but do these figures seem a bit wrong to you?:


> Intel was by far the biggest decliner among the 30 stocks that make up the Dow and also weighed on the tech-dominated Nasdaq. The chip maker fell 70 cents, or 12.4 percent, to $19.88.


----------



## Dukey

The Mint Man said:


> I know I'm still waking up but do these figures seem a bit wrong to you?:




Very wrong!!  I make 3.4% there.

Maybe Tim Paradis turned up at work a bit hung over.


----------



## The Mint Man

*NYSE Dow Jones finished today at:*
Source: http://finance.yahoo.com
Sym... Last........ ........Change..........
Dow 12,159.21 -306.95 -2.46% 
Nasdaq 2,346.90 -47.69 -1.99% 
S&P 500 1,333.25 -39.95 -2.91% 
10 Yr Bond(%) 3.6400% -0.0720 

*Overseas*
Overseas, Japan's Nikkei stock average closed up 2.07 percent. Britain's FTSE 100 finished down 0.68 percent, Germany's DAX index fell 0.78 percent, and France's CAC-40 fell 1.31 percent.

*Europe*
Sym... Last........ ........Change..........
FTSE 100 5,902.40 -40.50 -0.68% 
DAX 7,413.53 -58.04 -0.78% 
CAC 40 5,157.09 -68.30 -1.31% 


*Asia*
Sym... Last........ ........Change..........
Hang Seng 25,114.98 +664.13 +2.72% 

http://biz.yahoo.com/ap/080117/wall_street.html
*Economic Woes Maim Stocks; Dow Falls 300*
Thursday January 17, 6:11 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks Extend Plunge As Manufacturing Index Falls; Bond Insurers Fall Amid Fears of Losses​*
NEW YORK (AP) -- Wall Street extended its 2008 plunge Thursday, sending the Dow Jones industrials down 306 points and to their lowest level since last March after a regional Federal Reserve report showed a sharp and undexpected decline in manufacturing activity. Downgrades of key bond insurance companies added to the market's black mood, with investors fearing an escalation of months of credit market problems.

The Dow lost nearly 2.5 percent, giving the index its worst three-day percentage decline since October 2002. The Standard & Poor's 500, the index closely watched by market professionals, fell nearly 3 percent Thursday. The Dow, S&P 500 and the Nasdaq composite index have now given back all of the gains they achieved in 2007.

Stocks opened higher but quickly gave up their gains after the Philadelphia Federal Reserve said its survey of regional manufacturing activity registered a negative 20.9 from a revised reading of negative 1.6 in December. The latest number came in well short of what Wall Street had been expecting and underscored the seriousness of the economic worries that have gripped both Wall Street and Washington in recent weeks.

Credit concerns also dogged Wall Street after rating agency Moody's Investors Service placed bond insurer Ambac Assurance Corp. on review for a possible downgrade. That possibility alarmed investors because it would place all bonds insured by Ambac on review as well. Wall Street are concerned that bond insurers would be unable to absorb a spike in claims.

Investors' fears of a slowing economy, the consequence of a months-long housing and credit market crisis, dominated trading, as they have since the start of the year.

"The Philadelphia Fed just announced dreadful numbers," said John O'Donoghue, co-head of equities at Cowen & Co. He said if you look back at Philadelphia Fed data for similar numbers, it takes you back to the 2001 to 2002 recession.

"It's not rocket science -- the economy is slowing dramatically, and it's being reflected in economic reports."

The Dow, which had been up more than 50 points early in the session, closed down 306.95, or 2.46 percent, at 12,159.21.

The Dow is now off 8.33 percent for the year; there have been just 12 trading days so far in 2008, but the index's frequent triple-digit losses have now forced it to give back its 2007 gains. The Dow had its lowest close since it ended the March 16, 2007, session at 12,110.41.

The Dow's decline also left it about 150 points above 12,000, a level it hasn't closed below since November 2006.

The broader market indicators also plummeted. The S&P 500 index lost 39.95, or 2.91 percent, closing at 1,333.25, and leaving it was a year-to-date loss of 9.2 percent, while the Nasdaq dropped 47.69, or 1.99 percent, to 2,346.90, giving it a 2008 deficit of 11.51 percent.

Thursday brought the lowest close for the S&P 500 since October 2006 and the worst for the Nasdaq since March of last year.

Declining issues outnumbered advancers by more than 5 to 1 on the New York Stock Exchange, where consolidated volume came to a heavy 5.41 billion shares compared with 5.25 billion traded Wednesday.

Bond prices rose as stocks fell and anxious investors sought the safety of government-issued securities. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.63 percent from 3.68 percent late Wednesday. The dollar was mixed against other major currencies.

The Chicago Board Options Exchange's volatility index, known as the VIX, and often referred to as the "fear index," jumped nearly 17 percent Thursday.

Light, sweet crude fell 71 cents to settle at $90.13 a barrel on the New York Mercantile Exchange after Bernanke's prediction of slower economic growth this year. Slowing growth could dampen demand for oil.

The Philadelphia manufacturing reading caught Wall Street by surprise -- igniting fears that the economy is slowing precipitously and that policymakers might be too late in contemplating aid.

Economists had expected the Philadelphia index would come in at a negative 1.5, according to Dow Jones Newswires. Instead, the negative 20.9 figure was the weakest since October 2001 when the economy was reeling from the shock of the Sept. 11 terror attacks.

Jim Herrick, manager of equity trading at Baird & Co., contends that the Philadelphia Fed reading and other recent negative economic reports indicate the economy is likely in a downturn.

Other economic reports added to investors' glum mood. The Commerce Department said housing starts plunged 14 percent to 1.01 million in December, marking the weakest pace of home building in more than 16 years. In addition, permits to build new homes dropped 8 percent last month to 1.07 million, the lowest level since 1993.

The week's steady flow of news, much of which has dented investor sentiment, has led to a growing chorus of calls for the Fed to cut rates. The Fed's monetary policy committee will meet Jan. 29-30 and is widely expected to lower its Fed funds target from the current 4.25 percent level. Bernanke on Thursday reiterated recent signals that the central bank will reduce rates for a fourth straight time.

Some on Wall Street have called for the Fed to intervene sooner with steep rate cuts.

The economic concerns come in a week in which some of Wall Street's biggest names have posted huge losses following bad bets on mortgage investments. Financial shares fell sharply Thursday after the reports have made clear that there is also increasing weakness in home equity and other consumer banking operations.

Merrill Lynch & Co. on Thursday posted a massive loss that underscored the depth of the economy's credit problems. The world's largest brokerage said it lost $9.91 billion in the fourth quarter, hurt by big write-downs from investments and trades battered by tight credit conditions.

John Thain, the new chief executive at Merrill, said he believes the red ink will constitute the bulk of the company's write-downs from its subprime mortgage exposure. But he would not speculate about what 2008 might hold in store in other areas. Earlier this week, Merrill secured a new round of capital infusions from foreign funds.

Merrill fell $5.64, or 10 percent, to $49.45.

Moody's announcement that it will review Ambac came after the insurer booked a $5.4 billion write-down on its credit derivative portfolio during the fourth quarter.

Ambac plunged $6.73, or 52 percent, to $6.24, while Ambac rival MBIA Inc. fell $4.18, or 31 percent, to $9.22. First Horizon National Corp. fell $2.43, or 13 percent, to $16.48 after Standard & Poor's Ratings Services lowered its rating on the bank's long-term credit.

The Russell 2000 index of smaller companies fell 19.34, or 2.76 percent, to 680.57.

Overseas, Japan's Nikkei stock average closed up 2.07 percent. Britain's FTSE 100 finished down 0.68 percent, Germany's DAX index fell 0.78 percent, and France's CAC-40 fell 1.31 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com



I think its time we left the US out of it and look to Asia


----------



## The Mint Man

Sorry it's late today people, forgot all about it oh and ditto what I said at the end of my last post

*NYSE Dow Jones finished today at:*
Source: http://finance.yahoo.com
Sym... Last........ ........Change..........
Dow 12,099.30 -59.91 -0.49% 
Nasdaq 2,340.02 -6.88 -0.29% 
S&P 500 1,325.19 -8.06 -0.60% 
10 Yr Bond(%) 3.6480% +0.0080 


*Week ending*
For the week, the Dow and the Nasdaq composite index lost 4 percent, while the Standard & Poor's 500 gave up 5.4 percent. In the 13 trading sessions of the 2008, the Dow has lost nearly 9 percent, while the S&P has fallen 9.75 percent and the Nasdaq nearly 12 percent.

*Overseas*
In overseas trade, Japan's Nikkei stock index rose 0.56 percent and Hong Kong's Hang Seng index advanced 0.35 percent. In Europe, London's FTSE 100 finished down 0.01 percent, Frankfurt's DAX fell 1.34 percent and Paris' CAC fell 1.25 percent.

*Europe*
Sym... Last........ ........Change..........
FTSE 100 5,901.70 -0.70 -0.01% 
DAX 7,314.17 -99.36 -1.34% 
CAC 40 5,092.40 -64.69 -1.25%

*Asia*
Sym... Last........ ........Change..........
Nikkei 225 13,861.29 +77.84 +0.56% 
Hang Seng 25,201.87 +86.89 +0.35%


http://biz.yahoo.com/ap/080118/wall_street.html
*Stocks End Rough Week With Modest Drop*
Friday January 18, 11:45 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks Cap Rough Week With Relatively Modest Decline As Stimulus Plan Draws Little Reaction​*

NEW YORK (AP) -- Wall Street ended a painful week with another decline Friday as skittish investors unable to hold on to much optimism about the economy drew little comfort from President Bush's stimulus plan.

The day's trading reflected how fractious Wall Street has been in the new year. Investors pulled back from a big early advance, with the major indexes trading mixed as Bush began to speak. By the time the president finished announcing a plan for about $145 billion worth of tax relief, the indexes were well into negative territory.

"It's disappointed in the size of the economic growth package. Wall Street's showing its displeasure," said Kim Caughey, equity research analyst at Fort Pitt Capital Group in Pittsburgh. "Honestly, I think the institutional investors understand the limits to the government's ability to enact economic change."

Coming after Bush's announcement, Friday's pullback made it clear that the stock market is in for a protracted period of uncertainty and continued declines. Investors have shrugged off all the positive signs they've received in recent days, including assurances last week from Federal Reserve Chairman Ben Bernanke that the Fed is ready to act aggressively -- which means a likely big interest rate cut later this month -- to help support an economy pummeled by devastation in the housing and credit markets.

Steven Goldman, chief market strategist at Weeden & Co., contends Wall Street remains concerned about whether other economic troubles are lurking.

"It's a culmination of factors that have been in existence for a while -- it's the unknown," he said.

That uncertainty made for a turbulent week on Wall Street. While it began optimistically, with the Dow Jones industrials surging 172 points on hopes that perhaps the worst of the housing and mortgage crisis might be over, deepening pessimism led to a 277-point plunge Tuesday and a 307-point slide on Thursday.

For the week, the Dow and the Nasdaq composite index lost 4 percent, while the Standard & Poor's 500 gave up 5.4 percent. In the 13 trading sessions of the 2008, the Dow has lost nearly 9 percent, while the S&P has fallen 9.75 percent and the Nasdaq nearly 12 percent.

The market will likely need a long string of upbeat economic and corporate reports before it can regain its footing -- and with the economy clearly weak right now, it is likely to be a while before that kind of data becomes available.

On Friday, the Dow, which was up more than 180 points early in the session, fell 59.91, or 0.49 percent, to 12,099.30.

The broader S&P 500 index fell 8.06, or 0.60 percent, to 1,325.19, while the technology-focused Nasdaq dropped 6.88, or 0.29 percent, to 2,340.02.

The week's sell-off left the Dow and the S&P 500 well below their October highs -- which had the Dow at a record trading high of 14,198.09. The Dow has fallen more than 2,000 points, or 14.6 percent, while the S&P 500 is down nearly 240 points, or 15.3 percent.

Disappointment with Bush's plan came as investors were searching for those companies that might be weathering the economic slowdown well.

Some are indeed doing better than expected -- like International Business Machines Corp., which told Wall Street late Thursday to raise its 2008 profit estimates for the tech company, and General Electric Co., which posted a fourth-quarter profit rise Friday.

But many others are struggling. Washington Mutual Inc. reported a steep loss late Thursday for the fourth quarter, as Citigroup Inc. and Merrill Lynch did earlier in the week. With the banking industry trying to fix its shrinking portfolios and preparing for more distress in consumer debt, the economy may only have the government to fall back on -- and Wall Street didn't hear as much as it wanted from Bush.

In addition, many investors have been hoping that the Federal Reserve would put in place an intra-meeting rate cut before the central bank's next monetary policy meeting Jan. 29-30. "The market is saying to the Fed: we want a rate cut and we want it now. The fact that it is not getting a rate cut is causing a lot of selling that is feeding on itself," said Peter Cardillo, chief market economist at Avalon Partners.

Government bond prices slipped. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was unchanged at 3.63 percent.

On Thursday, a dismal reading on the Philadelphia Fed's manufacturing index and ratings agency downgrades of bond insurers sent the market tumbling. On Friday, a Bank of America Corp. analyst cut its ratings on three bond insurers -- MBIA Inc., Ambac Financial Group and Security Capital Assurance Ltd. -- to "neutral" from "buy."

MBIA fell 67 cents, or 7 percent, to $8.55 after a sharp drop Thursday.

Ambac rebounded from Thursday's drop, though, rising 34 cents, or 5.5 percent, to $6.58. The company said Friday it will ditch its previous plan to raise $1 billion in capital, a decision many investors considered an ill-advised move to maintain its ratings.

Security Capital Assurance fell 17 cents, or 9.3 percent, to $1.65.

A better-than-expected reading on consumer sentiment came as a pleasant surprise to investors Friday, but ultimately did not help Wall Street save its early advance. The University of Michigan's index, which most economists expected show a decline for mid-January, rose instead. Though not a perfect predictor of consumer spending, the report gave Wall Street some hope that Americans' buying might not drop off too precipitously amid worries about a recession.

The dollar rose against most major currencies, while gold slipped.

Crude oil futures rose 44 cents to settle at $90.57 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies fell 7.39, or 1.09 percent, to 673.18.

Meanwhile, chip maker Advanced Micro Devices Inc. late Thursday said its fourth-quarter net loss widened, but the loss was smaller than Wall Street predicted. AMD surged 73 cents, or 11.5 percent, to $7.07.

IBM rose $2.30, or 2.3 percent, to $103.40 on its strong forecast.

Washington Mutual rose $1.09, or 8.8 percent, to $13.55. Many investors, in anticipation of an even bigger fourth-quarter loss, had driven the savings and loan's stock sharply lower Thursday.

In overseas trade, Japan's Nikkei stock index rose 0.56 percent and Hong Kong's Hang Seng index advanced 0.35 percent. In Europe, London's FTSE 100 finished down 0.01 percent, Frankfurt's DAX fell 1.34 percent and Paris' CAC fell 1.25 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed LOWER 128.11 points	-1.06% on Tuesday 22:

Sym Last........ ........Change..........
Dow	11,971.19	-128.11	-1.06%
Nasdaq	2,292.27	-47.75	-2.04%
S&P 500	1,310.50	-14.69	-1.11%
30-yr Bond	4.2270%	-0.0700

NYSE Volume	6,551,220,000
Nasdaq Volume	3,194,758,250



*Overseas*
European stocks joined their U.S. counterparts in rebounding after the Fed's rate reduction. Britain's FTSE 100 rose 2.90 percent, France's CAC-40 rose 2.07 percent, Germany's DAX index pared its loss to 0.31 percent.

In Asian trading, which ended before the Fed move, Japan's Nikkei stock average closed down 5.65 percent -- its biggest percentage drop in nearly a decade. Hong Kong's Hang Seng index lost 8.65 percent a day after showing its biggest losses since the Sept. 11, 2001, attacks.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,740.10	+161.90	+2.90%
DAX	6,769.47	-20.72	-0.31%
CAC 40	4,842.54	+98.09	+2.07%

*Asia*
Symbol..... Last...... .....Change.......

http://biz.yahoo.com/ap/080122/wall_street.html
*Stocks Dive, Then Rebound After Fed Cut*
Tuesday January 22, 6:23 pm ET
By Madlen Read, AP Business Writer
*Stocks Drop, Then Rebound, After Rate Cut -- but Long-Term Recovery Could Be More Difficult*

NEW YORK (AP) -- The opening bell hadn't even sounded on Wall Street when the Federal Reserve announced an emergency interest-rate cut. The Dow Jones industrial average fell 465 points -- including 300 in the first minute -- then rebounded to finish down a more bearable 128.

The recovery Tuesday was a victory of sorts for a battered market. But a long-term comeback may depend on factors much more difficult to achieve -- a turnaround in the housing market and renewed confidence among U.S. consumers, who hold up most of the economy.

The alarming early drop in U.S. stocks followed the lead of markets abroad, where investors fled stocks and sent indexes plummeting on fears of a U.S. recession that could spread to other global economies.

By the close, the Dow had recovered to a loss of 128.11, or just over 1 percent, at 11,971.19.

Before trading began, the Federal Reserve moved to slash its benchmark federal funds rate by 0.75 percentage points, to 3.5 percent. It was the widest cut since 1990, the beginning of what the Fed says is a comparable period in the way it handled the rate.

The Fed cut the discount rate, the interest rate the Fed charges banks directly, to 4 percent, also a three-quarter-point cut.

Many traders had anticipated a rate cut, but it was unusual for the Fed to make the call between regularly scheduled meetings of its policy-making Open Markets Committee.

The next meeting is a week away, and even then, most traders were expecting a cut of only a half-point.

The market pulled back a bit from its steep plunge -- the Dow had fallen 277 points on Tuesday of last week, and 307 on Thursday. It was a positive sign, but economists and analysts said a full recovery was not likely in the near term.

"This is a cure for the wrong disease. It makes everybody feel good, but it's not going to have any ongoing benefit," said Daniel Alpert, managing director of Westwood Capital LLC. "We need to get ourselves out of a mountain of debt and overvalued properties."

The markets worry that consumers, who account for two-thirds of economic activity, are not in a position to spend the country back into solid growth. They have been cutting back rather than borrowing or spending more, even during the recent holiday season.

"People are up to their eyeballs in debt, and they're being asked to borrow more," said Mike Schenk, senior economist for the Credit Union National Association.

Interest rate reductions are one strategy the Fed has used in previous crises to help the economy recover. A rate cut tends to spur the economy by making it cheaper for businesses to borrow money.

It would also lighten the burden on individuals with credit card debt and with mortgages that have adjustable rates.

Still, the effect on Wall Street was not overwhelmingly positive: The Standard & Poor's 500 index, the broad market measure most closely followed by traders, fell 14.69, or 1.11 percent, to 1,310.50, while the Nasdaq composite index lost 47.75, or 2.04 percent, to 2,292.27.

Stocks have been beaten down for months amid falling housing prices and a mortgage crisis that began with a stream of failed home loans to consumers with poor credit.

The Dow is down nearly 10 percent since the beginning of the year -- logging its worst first 14 trading days of the year ever. It is down more than 15 percent since its record close of 14,164.53 on Oct. 9, and is at its lowest close since Oct. 17, 2006.

Investors are well aware that housing worries remain: Many adjustable-rate mortgages -- similar to those that went bad last year -- will still be adjusted higher, and home prices are expected to keep falling this year.

Financial companies have lost billions of dollars because of those mortgages, retail sales are falling and companies in general aren't on a spending spree.

Investors, both institutional and individual, are also in a defensive mode, and an interest cut won't immediately change that. In the week ended Jan. 15, when many on Wall Street believed a rate cut was in the offing, investors shoveled money into cash reserves at a record pace, according to iMoneyNet. Assets in money market funds ballooned by $15.96 billion to a high of $3.17 trillion.

And investors pulled an estimated $18.2 billion out of mutual funds, according to TrimTabs Investment Research. So far this year, investors have shifted $41.4 billion out of these investments.

Richard Resch, a 60-year-old salesman at a steamship company, said he met two nights ago with his financial planner to rebalance his money from an 80-20 split in stocks and bonds to a more conservative 50-50 split. His planner told him to hang in there.

"There's no point in panicking now," said Resch, who lives in Long Valley, N.J. "If you see me jump out of a window six months from now, you'll know I was wrong."

For the market to truly gain a foothold, investors need to see strong economic and earnings data in the coming months, including earnings reports and forecasts this week from big multinational companies like Microsoft Corp., AT&T Inc., Caterpillar Inc. and Honeywell International Inc.

The market also needs to hear that financial institutions like Citigroup Inc. and Merrill Lynch & Co., which have lost billions due to investments in failed mortgages, are on their way to solid earnings as well.

"If that doesn't happen, then all this is a short-term bottom before a resumption of selling," said Peter Boockvar, equity strategist at Miller Tabak.

The pack mentality of Wall Street could be the market's biggest driver -- it's what triggered comebacks in the past, and one reason experts say long-term investors should sit tight.

When investors feel the market has indeed gone as low as it should, they'll start buying, even if the economy is not yet barreling higher.

Still, a recovery might take months or years. After the technology bust of 2000 and the 2001 terrorist attacks sent Wall Street into a deep bear market, the market took several years to turn around -- and at that time, Americans had something sure, something physical, to put their money and confidence in: their homes.

That economic pillar, which helped support spending, has cracked. People who took out giant mortgages with tiny down payments, or who used their homes' value to borrow money, no longer have the security of home equity amid a slumping housing market.

And banks that were burned writing mortgages for consumers with shaky credit are now wary of lending, especially since other types of consumer debt, including car loans and credit cards, are seeing defaults rise.

The Bush administration has proposed ways to ease Americans' plight, first with a plan to prevent more mortgages from going sour, and, last week, with an economic stimulus packing that included $145 billion in tax cuts. On Tuesday, the White House said President Bush won't rule out the possibility of a larger package.

But like interest rate cuts, a stimulus package, which would first need the approval of Congress, would not work immediately.

"Economists are not generally impressed by a fiscal stimulus, because it takes a long time to produce the desired effect," said the Credit Union National Association's Schenk. He explained that some people -- shrewdly -- would save the money they receive instead of spend it.


In other trading Tuesday, the yield on the benchmark 10-year Treasury note, which moves opposite its price, sank to 3.48 percent from 3.63 percent late Friday.

Crude oil prices fell 72 cents to settle at $89.85 a barrel on the New York Mercantile Exchange on concerns that a weak economy will dampen energy demand. The dollar fell against most other major currencies except the yen, while gold rose.

Declining stocks outnumbered advancers by about 10 to 7 on the New York Stock Exchange. Consolidated volume came to 6.33 billion shares, up from 5.84 billion Friday.

The Russell 2000 index of smaller companies fell 1.61, or 0.24 percent, to 671.57.

AP Business Writers Jackie Farwell, Tim Paradis and Leslie Wines in New York contributed to this report.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER +298.98 points	+2.50% on Wednesday 23:

Sym Last........ ........Change..........
Dow	12,270.17	+298.98	+2.50%
Nasdaq	2,316.41	+24.14	+1.05%
S&P 500	1,338.60	+28.10	+2.14%
30-yr Bond	4.1750%	-0.0520

NYSE Volume	7,549,204,500
Nasdaq Volume	3,677,627,250

*Overseas*
European stocks closed sharply lower on economic worries and escalating uncertainty about the European Central Bank's willingness to lower rates. Britain's FTSE 100 closed down 2.28 percent, Germany's DAX index fell 4.88 percent, and France's CAC-40 fell 4.25 percent.

In earlier Asian trading, Japan's Nikkei stock average closed up 2.04 percent after falling 5.7 percent Tuesday. Similarly, Hong Kong's Hang Seng index surged 10.72 percent -- its biggest gain in 10 years -- after falling 13.7 percent in the previous two sessions.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,609.30	-130.80	-2.28%
DAX	6,439.21	-330.26	-4.88%
CAC 40	4,636.76	-205.78	-4.25%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 12,829.06 +256.01 +2.04% 
Hang Seng 24,090.17 +2,332.54 +10.72% 
Straits Times 3,344.53 +3,344.53 +4.08% 

http://biz.yahoo.com/ap/080123/wall_street.html
*Stocks Recover From Sharp Losses*
Wednesday January 23, 6:49 pm ET
By Madlen Read, AP Business Writer
*Wall Street Whiplash: Stocks Plunge, Then Post Big Gains on Day After Fed Rate Cut*

NEW YORK (AP) -- It started with another stomach-turning drop at the open, and a loss of more than 300 points by midday. Then stocks changed course, raced higher and closed with a dramatic gain of nearly 300.

This wasn't just volatility. This was Wall Street whiplash.

Amid tumbling housing prices, an ongoing credit crisis and growing fears of a recession, turbulence has become a hallmark of Wall Street in recent weeks. And after five straight days of pullbacks, analysts saw some positive signs in Wednesday's trading.

Investors certainly found a reason to buy, perhaps encouraged by the Federal Reserve's unprecedented 0.75-point interest rate cut a day earlier and a widely held bet on another half-point cut next week.

By day's end, the Dow had swung 631.86 points from its low point to its high -- the largest single-day turnaround in more than five years.

"You might say this is a belated reaction to what the Fed did this week, compounded by hopes for the Fed to do more next week," said Peter Cardillo, chief market economist at Avalon Partners.

The Dow had plunged more than 465 points just after the opening bell Tuesday as the market digested news of the rate cut. But stocks rallied to finish down just 128, then tacked on a 2.5-percent gain on Wednesday.

The Dow Jones industrial average finished the day up 298.98 at 12,270.17. It had been down 323.29 at its low point.

The swing from negative to positive territory of 631.86 points was the largest point move since July 24, 2002, according to Dow Jones Indexes. The largest intraday point swing, a metric that Dow started calculating in 1995, was a 721-point swing on April 14, 2000.

"Volatility is certainly the norm now and not the exception," said Art Hogan, chief market strategist at Jefferies & Co.

He noted that all but two trading days this year had seen triple-digit swings in the Dow, three of them 300 points.

On Wednesday, traders who bet on the Fed's target fed funds rate were pricing in a 100 percent chance of a 0.50-percentage-point cut by the central bank when it meets next Tuesday and Wednesday.

Rate cuts are designed to stimulate borrowing and, in turn, business activity and the overall economy. They also will eventually boost profit margins for banks and other lenders, which have been working to lower costs and raise cash levels through layoffs and stock sales after having lost billions of dollars to bad mortgages and mortgage-related investments. Those companies -- including Citigroup Inc., Washington Mutual Inc. and Merrill Lynch -- were the big winners Wednesday.

"What has happened is the Fed is flooding the system with liquidity and eventually we should see some traction in the economy. And stocks tend to respond first," said Steve Goldman, chief market strategist at Weeden & Co.

Still, analysts were mindful that in recent months Wall Street has been known to soar one day and succumb the next, and that there are still many economic unknowns for the market to weather. And, given that stocks are so badly beaten down, bargain hunting played a part in Wednesday's turnaround.

Before Wednesday's session, the Dow had fallen nearly 10 percent since the start of the year, and it was down more than 15 percent since its record close of 14,164.53 on Oct. 9.

Broader stock indicators also surged Wednesday. The Standard & Poor's 500 index rose 28.10, or 2.14 percent, to 1,338.60, while the Nasdaq composite index rose 24.14, or 1.05 percent, to 2,316.41.

Advancing issues outpaced decliners by nearly 3 to 1 on the New York Stock Exchange. Consolidated volume came to a heavy 7.33 billion shares, up from 6.33 billion Tuesday.

Bond prices turned lower as stocks rebounded. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell in earlier trading but then recovered to 3.55 percent, up from 3.41 percent late Tuesday.

At its lowest point Tuesday, the Dow was 17.9 percent below its October closing high, meaning that the stock market has come perilously close to the 20 percent threshold that defines a bear market.

Investors may go into the market to be sure they don't miss out on a rally -- or the gains may be knocked down again.

Wall Street faces several months of uncertainty, with the bulk of fourth-quarter earnings reports still to come and economic reports likely to be disappointing. When it's more clear companies and consumers are spending freely, investors might relax.

However, with consumers burdened by debt and cutting back spending, it's impossible to predict when that relief will come.

The dollar was mixed against other major currencies Wednesday, while gold prices fell.

Battered small-cap companies -- which rely heavily on borrowing to grow their businesses -- got a lift Wednesday. The Russell 2000 index of smaller companies rose 21.86, or 3.26 percent, to 693.43.

Before the turnaround in U.S. stocks, European stocks closed sharply lower on economic worries and escalating uncertainty about the European Central Bank's willingness to lower rates. Britain's FTSE 100 closed down 2.28 percent, Germany's DAX index fell 4.88 percent, and France's CAC-40 fell 4.25 percent.

In earlier Asian trading, Japan's Nikkei stock average closed up 2.04 percent after falling 5.7 percent Tuesday. Similarly, Hong Kong's Hang Seng index surged 10.72 percent -- its biggest gain in 10 years -- after falling 13.7 percent in the previous two sessions.

AP Business Writers Leslie Wines and Tim Paradis in New York contributed to this report.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER +108.44 points	+0.88% on Thursday 24:

Sym Last........ ........Change..........
Dow	12,378.61	+108.44	+0.88%
Nasdaq	2,360.92	+44.51	+1.92%
S&P 500	1,352.07	+13.47	+1.01%
30-yr Bond	4.3530%	+0.1780

NYSE Volume	5,783,910,500
Nasdaq Volume	3,019,959,250

*Overseas*
Japan's Nikkei stock average closed up 2.06 percent and Hong Kong's Hang Seng index fell 2.29 percent. 

Britain's FTSE 100 finished ahead by 4.75 percent, Germany's DAX index surged 5.93 percent, and France's CAC-40 jumped 6.01 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,875.80	+266.50	+4.75%
DAX	6,821.07	+381.86	+5.93%
CAC 40	4,915.29	+278.53	+6.01%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,092.78	+263.72	+2.06%
Hang Seng	23,539.27	-550.90	-2.29%
Straits Times	3,344.53	

http://biz.yahoo.com/ap/080124/wall_street.html
*Wall Street Extends Its Rebound*
Thursday January 24, 4:35 pm ET
By Tim Paradis, AP Business Writer
*Stocks Extend Their Gains Following Employment Report, Hopes for Stimulus Plan*

NEW YORK (AP) -- Wall Street scored its second straight big advance Thursday after economic figures suggested the job market is holding up and as lawmakers promised measures that could ease concerns about consumer spending. The Dow Jones industrials rose more than 100 points, bringing its two-day gain to more than 400.

While stocks fluctuated throughout the session, trading was decidedly more calm than on Wednesday, when Wall Street executed a stunning turnaround that transformed a sharp sell-off into big gains for stocks. Thursday's rise was notable, however, as investors will often move in a day after a rally or plunge to take profits or scoop up bargains. That the buying largely continued was a positive sign, observers said.

Investors were clearly interested in buying, but despite the size of the advance, there didn't appear to be much conviction it -- the market is still searching for clues about the economy in hopes of determining whether it will soon pick up or perhaps slow and tip into recession.

In addition, the market wobbled during the session after Fitch Ratings lowered its rating on bond insurer Security Capital Assurance Ltd. Bond insurers have been hurt in the fallout from the mortgage and credit crises, and news of their problems has shaken the market.

But those seeking good news found some in a Labor Department report that said the number of people seeking unemployment benefits last week fell for a fourth straight week. Applications for benefits dropped 1,000 to 301,000, pushing claims down to the lowest level in four months.

Investors also appeared pleased by a widely anticipated agreement between Congressional leaders and the White House on an economic stimulus package. The agreement calls for most tax filers to be given refunds of $600 to $1,200, and more if they have children.

Bill Dwyer, chief investment officer at MTB Investment Advisors in Baltimore, said Wall Street found some relief from word of the economic stimulus plan as well as the efforts of regulators to help bond insurers. He said the Federal Reserve's decision to lower interest rate this week could also help some struggling homeowners hold onto their properties. The efforts, he said, could ultimately help stave off recession.

"People have that 'R' word stuck on the front of their forehead. It's really just a dramatic slowing of growth. We may not have a recession," Dwyer said.

According to preliminary calculations, the Dow Jones industrial average rose 108.44, or 0.88 percent, to 12,378.61, following a nearly 300 point surge on Wednesday. The Dow has not finished higher for two straight sessions since Jan. 9-10.

Broader stock indicators also rose. The Standard & Poor's 500 index rose 13.47, or 1.01 percent, to 1,352.07, and the Nasdaq composite index advanced 44.51, or 1.92 percent, to 2,360.92.

Advancing issues outnumbered decliners by 4 to 3 on the New York Stock Exchange, where volume came to 2.18 billion shares.

The Dow on Wednesday swung 631.86 points from its low point to its high -- its largest single-day reversal in more than five years.

Stephen Carl, principal and head of equity trading at The Williams Capital Group, said Thursday's overall trading reflected a continuation of the bounce that first began on Tuesday, when the Fed lowered its federal funds rate by a steep 0.75 percentage point, or 75 basis points, to 3.5 percent.

He said investors were also encouraged that the government's rebate plan, while not perfect, appeared to be progressing. Still, despite some investors' mostly upbeat mood, uncertainty remained. The market's about-face Wednesday, while certainly a relief for many investors, illustrated the fractiousness that has settled into Wall Street in recent months.

"We still have a long way to go in getting the economy on track," Carl said. "Whether we dip into a recession or not, a lot of things need to be fleshed out in the markets."

Bond prices fell as stocks rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.67 percent from 3.55 percent late Wednesday. The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude oil for March delivery rose $2.42 to settle at $89.30 a barrel on the New York Mercantile Exchange after the agreement on the economic stimulus plan. Traders wagered the plan to put money in consumers' pockets could increase demand for oil.

Some of Wall Street's most recent concerns relate to the downgrade from Security Capital and broader unease about the stability of bonds. However, investors also looked to New York state regulators in hopes they can hatch a plan to shore up the bond insurance industry. New York Insurance Superintendent Eric Dinallo said in a statement Thursday it likely will take time to draw up measures to help the industry.

After the Fitch downgrade, Security Capital fell $1.16, or 30.6 percent, to $2.63.

Beyond bond insurers, investors had concerns about the health of corporate profits. Online auctioneer eBay Inc. said late Wednesday its fourth-quarter earnings and revenue showed gains. While the results were stronger than Wall Street had expected, investors were concerned by the company's first-quarter forecast, which fell short of expectations. The stock fell $1.76, or 6.1 percent, to $27.18.

Ford Motor Co. reported it lost $2.7 billion in the fourth quarter as weakness in North America offset gains in markets elsewhere; the loss was narrower than the $5.6 billion seen a year earlier, however. Excluding special items, Ford's results fell just short of Wall Street's target. Ford slipped 4 cents to $6.26.

The Russell 2000 index of smaller companies dipped 0.71, or 0.10 percent, to 692.72.

Overseas, Japan's Nikkei stock average closed up 2.06 percent and Hong Kong's Hang Seng index fell 2.29 percent. Britain's FTSE 100 finished ahead by 4.75 percent, Germany's DAX index surged 5.93 percent, and France's CAC-40 jumped 6.01 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## black_bird2

I don't know about anyone else, but BigDog is back on deck and it has been good news ever since! Coincidence, who knows  . No offence Mint Man, but have enjoyed reading Bigdog's morning post a whole lot more


----------



## bigdog

black_bird2 said:


> I don't know about anyone else, but BigDog is back on deck and it has been good news ever since! Coincidence, who knows  . No offence Mint Man, but have enjoyed reading Bigdog's morning post a whole lot more





black_bird2 and The Mint Man

I am still in Thailand for one more week (four hours behind)

I was up early this morning and but will continue to update
-- most postings will be late
-- I now have better access rather than internet cafe.

Lets hope things continue to improve!

I am please with WorleyParson WOR SP increase this morning and hopefully heading back to high $40's


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The Dow Jones industrial average ended the week up 107.87, or 0.89 percent, at 12,207.17. The Standard & Poor's 500 index finished up 5.42, or 0.41 percent, at 1,330.61. The Nasdaq composite index ended down 13.82, or 0.59 percent, at 2,326.20.

The NYSE DOW closed LOWER -171.44 points on Fiday 25

Sym Last........ ........Change..........
Dow 12,207.17 -171.44 -1.38% 
Nasdaq 2,326.20 -34.72 -1.47% 
S&P 500 1,330.61 -21.46 -1.59% 
30-yr Bond 4.2820% -0.0710  
NYSE Volume 4,936,777,500 
Nasdaq Volume 2,658,140,000 

*Overseas*
Britain's FTSE 100 closed down 0.12 percent, Germany's DAX index finished off 0.06 percent, and France's CAC-40 fell 0.76 percent. Japan's Nikkei stock average jumped 4.10 percent after falling sharply earlier in the week. Hong Kong's Hang Seng index likewise surged 6.73 percent by the close.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,869.00 -6.80 -0.12% 
DAX 6,816.74 -4.33 -0.06% 
CAC 40 4,878.12 -37.17 -0.76% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,629.16 +536.38 +4.10% 
Hang Seng 25,122.37 +1,583.10 +6.73% 

http://biz.yahoo.com/ap/080125/wall_street.html
*Stocks Fall, Giving Up Early Gains*
Friday January 25, 5:39 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks Cap Volatile Week With Sizable Decline; Microsoft Results Help Tech Index *

NEW YORK (AP) -- Wall Street ended a tumultuous week with a sharp decline Friday, backtracking following two days of stunning gains as investors turned cautious and cashed in some of their winnings. The Dow Jones industrial average still managed to record its first weekly advance of 2008, even as it fell more than 170 points on the day.

The week, which started with a 465-point drop in the Dow soon after the market opened Tuesday, showed that the stock market is still fractious but may be going through healthy process of trying to establish a bottom following weeks of sharp declines.

Investors had an initial burst of enthusiasm Friday, sending each of the major indexes up more than 1 percent, after upbeat profit reports from big names like Microsoft Corp. and word of a possible buyout of a trouble bond insurer. But the advance proved short-lived and the eventual decline wasn't surprising given that investors putting down bets ahead of the weekend were coming off two days of big gains -- including 400 points in the Dow.

"People may be looking to take some profits off the table in this volatile market. And there's a lot of activity that's coming up next week," Scott Fullman, director of investment strategy for I. A. Englander & Co., said during the day's back-and-forth trading.

President Bush is scheduled to deliver his State of the Union address Monday. Meanwhile, the Federal Reserve is expected to hold its first regularly scheduled meeting of the year on Tuesday and Wednesday, and then the Labor Department will weigh in on the state of the job market on Friday.

Despite the pullback, Wall Street's tone Friday stood in sharp contrast to the intensely dour mood that hung over the market when the week began. While U.S. markets were closed Monday for Martin Luther King Jr. Day, stocks in Asia and Europe plunged amid fears of a precipitous slowdown in the U.S. economy. To stave off a similar sell-off in the U.S. over recession fears, the Fed stepped in before the opening bell Tuesday with an emergency interest rate cut.

The central bank's move to lower rates by a big 0.75 percentage point to 3.5 percent helped shore up investors' confidence and led stocks to end the day well off their lows, although they still closed down. A day later, on Tuesday, Wall Street had an astonishing about-face, with the Dow swinging more than 630 points and turning a sharp sell-off into huge gains. Stocks then extended their advance Thursday.

The Fed is widely expected to cut rates again at next week's meeting; many analysts expect a half-point cut.

With Friday's decline, the market might well be following the pattern of past corrections, when huge gains were often followed by some retrenchment. Many market watchers consider such backing and filling a sign of health. However, with much economic uncertainty ahead, investors may need months before they can decide whether to take the market solidly higher.

The Dow fell 171.44, or 1.38 percent, to 12,207.17. The Dow had been up more than 100 points in the early going.

Broader stock indicators also fell. The Standard & Poor's 500 index fell 21.46, or 1.59 percent, to 1,330.61. The technology-heavy Nasdaq composite index fell 34.72, or 1.47 percent, to 2,326.20.

Despite the huge moves seen during the week, stocks finished not far beyond where they began, with the Dow adding 108 points, or 0.89 percent. The S&P 500 ended the week up 0.41 percent and the Nasdaq lost 0.59 percent.

Declining issues outpaced advancers by about 3 to 2 Friday on the New York Stock Exchange. Consolidated volume came to 4.78 billion shares, down from 5.48 billion shares traded Thursday.

Government bond prices jumped as stocks declined. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.56 percent from 3.71 percent late Thursday.

The dollar was mixed against other major currencies, while gold prices rose. Light, sweet crude oil advanced $1.30 to settle at $90.71 a barrel on the New York Mercantile Exchange.

Investors are looking for clues about whether the market is due to add to its gains after a brief hiatus or whether another pullback is in the offing. Despite the increases logged this week, stocks are still down sharply in the new year.

"The market is extremely sensitive to any news that's out there. A year ago, it brushed off a lot of stuff. Now, it's just the opposite, and we're seeing reactions nearly immediately when things come out," Fullman said.

Despite giving up the early gains, Wall Street still appeared pleased by reports from U.K. newspapers that billionaire Wilbur Ross was in talks to acquire bond insurer Ambac Financial Group Inc. Financial woes at many U.S. bond insurers have caused headaches in recent weeks for investors worldwide who have worried that tightness in the credit markets could worsen should one of the companies buckle under an inability to draw new business.

Ambac rose 21 cents to $11.54.

Word of Ross' interest follows comments this week by New York State regulators that indicated they would consider lending support to shore up the struggling bond insurance industry. While uncertainty remains over what role regulators might play, the comments initially helped reassure Wall Street and made room for stocks to rally.

Other corporate news appeared to offer investors mixed readings on the economy.

Microsoft finished down 31 cents at $32.94 after spending much of the session higher. The company raised its forecast for the rest of its fiscal year, which ends in June, and said its quarterly earnings jumped 79 percent. Microsoft cited the growing importance of its sales outside the U.S.

The Russell 2000 index of smaller companies fell 4.12, or 0.59 percent, to 688.60.

Overseas, Britain's FTSE 100 closed down 0.12 percent, Germany's DAX index finished off 0.06 percent, and France's CAC-40 fell 0.76 percent. Japan's Nikkei stock average jumped 4.10 percent after falling sharply earlier in the week. Hong Kong's Hang Seng index likewise surged 6.73 percent by the close.

The Dow Jones industrial average ended the week up 107.87, or 0.89 percent, at 12,207.17. The Standard & Poor's 500 index finished up 5.42, or 0.41 percent, at 1,330.61. The Nasdaq composite index ended down 13.82, or 0.59 percent, at 2,326.20.

The Russell 2000 index finished the week up 15.42, or 2.29 percent, at 688.60.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 13,423.62, up 115.17 points, or 0.87 percent, for the week. A year ago, the index was at 14,358.67.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER +176.72 points	+1.45% on Monday 28
Sym Last........ ........Change..........
Dow	12,383.89	+176.72	+1.45%
Nasdaq	2,349.91	+23.71	+1.02%
S&P 500	1,353.97	+23.36	+1.76%
30-yr Bond	4.2820%	0.0000

NYSE Volume	4,128,162,750
Nasdaq Volume	2,111,536,250

*Overseas*
Asian trading saw steep losses as investors reacted to Friday's U.S. trading. In Tokyo, the Nikkei stock average dropped 4 percent and a key index in Shanghai plunged 7.2 percent. 

In late trading in Europe, London's FTSE 100 fell 1.36 percent, Frankfurt's DAX rose 0.03 percent and Paris's CAC 40 lost 0.61 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,788.90	-80.10	-1.36%
DAX	6,818.85	+2.11	+0.03%
CAC 40	4,848.30	-29.82	-0.61%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,087.91	-541.25	-3.97%
Hang Seng	24,053.61	-1,068.76	-4.25%

http://biz.yahoo.com/ap/080128/wall_street.html
*Stocks Rise on Rate Cut Hopes*
Monday January 28, 5:46 pm ET
By Madlen Read, AP Business Writer
*Wall Street Advances After Big Drop in New Home Sales, Disappointing Earnings*

NEW YORK (AP) -- A jittery Wall Street advanced Monday, reversing some of Friday's sharp losses as investors took a dismal new home sales report as a sign the Federal Reserve will lower rates this week.

The Dow Jones industrial average rose more than 176 points in a session that was relatively calm when compared to the turbulence of last week.

On the surface, the advance appeared surprising after the Commerce Department reported sales of new homes in December fell by 4.7 percent and that 2007 new home sales plunged by a record 26.4 percent compared to 2006. But while the report at first exacerbated the market's concern that the housing and mortgage crises are causing a recession, it also raised hopes that the Fed might cut rates again by a wide margin to stoke the weakening U.S. economy.

"Anticipation of another Fed rate cut is the main magnet in the market today," said Alfred E. Goldman, chief market strategist at A.G. Edwards & Sons Inc.

He was skeptical the gains would stick -- anything the Fed decides after its two-day meeting lets out Wednesday could be met with disappointment. If the rate cut is small or nonexistent, the market will likely be unsatisfied; if the cut is wide, the market may worry the economy is worse than it thought.

"If we do rally into a Fed rate cut, we have a lose-lose situation," Goldman said.

And traders who bet on the Fed's next move were pricing in a more than 80 percent chance of a half-point cut.

"Any less than that could be a problem," said Richard Sparks, senior equities analyst at Schaeffer's Investment Research.

The Dow rose 176.72, or 1.45 percent, to 12,383.89 after falling as many as 95 points in morning trading. On Friday, the blue chip index tumbled 171 points after a two-day advance of more than 400 points.

Broader stock indicators also advanced Monday. The Standard & Poor's 500 index rose 23.36 or 1.76 percent, to 1,353.97, while the Nasdaq composite index rose 23.71, or 1.02 percent, to 2,349.91.

Government bond prices slipped as stocks rose. The 10-year Treasury note's yield, which moves opposite its price, was unchanged at 3.58 percent -- and did not move in after-hours trading.

Alexander Paris, economist and market analyst for Chicago-based Barrington Research, said most investors were waiting for the Fed to announce its decision on Wednesday before making any big bets. That was one of the reason for a quiet trading day where the Dow stayed mostly in positive territory.

"It was calmer than I expected it would be, especially when you have lots of news for investors to look at," he said. "But, it's the Fed offsetting the news -- and people don't want to make a big move when you don't know what they're going to do about interest rates."

However, trading for the week is expected to be volatile as Wall Street digests President Bush's final State of the Union address Monday evening and the Fed's rate announcement Wednesday. Last Tuesday, in an emergency move, the Fed lowered rates by 0.75 of a percentage point.

Hopes for another large cut on Wednesday had been tempered late last week by news that French bank Societe Generale sold European index futures to close positions taken by an alleged rogue trader. It is thought those trades may have aggravated the massive losses in Europe and Asian trading last Monday, when the U.S. markets were closed.

Profit reports Monday were ostensibly upbeat, but revealed some troubling signals about the economy. Fast food seller McDonald's, a Dow component, said its quarterly profit rose 3 percent due to tax benefits and strong sales, but December U.S. sales were flat with a year ago as cash-strapped consumers pared back spending. McDonald's shares fell $3.03, or 5.6 percent, to $51.07.

Merger and acquisition news added to the market's uncertainty. Blackstone Group LP on Monday said it is still interested in buying Alliance Data Systems Corp., but that the $6.4 billion deal is in jeopardy because regulators want to place onerous terms on the takeover. ADS dropped $23.12, or 35 percent, to $42.48. Blackstone slipped 21 cents to $19.15.

The dollar fell against most major currencies except the yen, and gold prices rose.

Crude oil rose 28 cents to settle at $90.99 a barrel on the New York Mercantile Exchange.

Advancing issues outnumbered decliners by nearly 3 to 1 on the New York Stock Exchange, where consolidated volume came to 3.96 billion shares, compared to 4.78 billion on Friday.

The Russell 2000 index of smaller companies rose 13.79, or 2.00 percent, to 702.39.

Asian trading saw steep losses as investors reacted to Friday's U.S. trading. In Tokyo, the Nikkei stock average dropped 4 percent and a key index in Shanghai plunged 7.2 percent. In late trading in Europe, London's FTSE 100 fell 1.36 percent, Frankfurt's DAX rose 0.03 percent and Paris's CAC 40 lost 0.61 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Dow Jones looking better this morning just before opening

Dow	12,413.24	+29.35	+0.24%
Nasdaq	2,349.98	+0.07	+0.00%
S&P 500	1,358.48	+4.51	+0.33%
30-yr Bond	4.3230%	+0.0410

NEW YORK (AP) -- Wall Street was mixed in early trading Tuesday as the Federal Reserve opened a two-day meeting expected to result in another interest rate cut.

The Fed's imminent rate decision is clearly the market's focus this week, so trading will be marked by investors' conjectures about policymakers' thoughts on the weak economy and crunched financial industry. The meeting is not scheduled to end until Wednesday afternoon, though, so the market in the meantime digested Tuesday's data on earnings and durable goods.

*Europe with one hour to close*
FTSE 100	5,846.90	+58.00	+1.00%
DAX	6,894.79	+75.94	+1.11%
CAC 40	4,921.55	+73.25	+1.51%

*Asia up today*
Nikkei 225	13,478.86	+390.95	+2.99%
Hang Seng	24,291.80	+238.19	+0.99%


----------



## The Mint Man

black_bird2 said:


> I don't know about anyone else, but BigDog is back on deck and it has been good news ever since! Coincidence, who knows  . No offence Mint Man, but have enjoyed reading Bigdog's morning post a whole lot more



I have been away for 6 days, the news paper was my only connection to the markets..... I should go away more often


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER +96.41 points	+0.78% on Tuesday 29
Sym Last........ ........Change..........
Dow	12,480.30	+96.41	+0.78%
Nasdaq	2,358.06	+8.15	+0.35%
S&P 500	1,362.30	+8.33	+0.62%
30-yr Bond	4.3360%	+0.0540

NYSE Volume	4,104,735,000
Nasdaq Volume	2,160,048,500

*Overseas*
Tokyo's Nikkei stock average closed up 2.99 percent; Shanghai's key index added 0.87 percent; and Hong Kong's main index rose 0.99 percent. 

London's FTSE rose 1.66 percent; Frankfurt's DAX rose 1.09 percent; and Paris' CAC rose 1.92 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,885.20	+96.30	+1.66%
DAX	6,892.96	+74.11	+1.09%
CAC 40	4,941.45	+93.15	+1.92%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,478.86 +390.95 +2.99% 
Hang Seng	24,291.80	+238.19	+0.99%

http://biz.yahoo.com/ap/080129/wall_street.html
*Stocks Advance As Investors Await Fed*
Tuesday January 29, 4:28 pm ET
By Joe Bel Bruno, AP Business Writer
*Wall Street Mostly Higher As Federal Reserve Starts 2-Day Meeting on Interest Rates*

NEW YORK (AP) -- Wall Street advanced sharply Tuesday as the Federal Reserve opened a two-day meeting expected to bring another interest rate cut to revitalize the U.S. economy.

The Fed's rate decision is clearly the market's focus this week, and trading is marked by investors' conjectures about policymakers' thoughts on the weak economy and crunched financial industry. With an announcement not expected until Wednesday afternoon, the market in the meantime digested data on earnings, consumer spending and durable goods.

Investors did get some encouragement about the economy after the Commerce Department said orders for big-ticket items rose 5.2 percent in December, the widest jump in five months. In addition, the Conference Board reported consumer confidence fell in January -- pretty much as expected.

Economic data will continue to be scrutinized as investors try to determine what the Fed's take is on the economy. Investors are angling for a half-point cut following its emergency three-quarter-point cut last week.

"The market is just in a holding pattern," said Todd Leone, managing director of equity trading at Cowen & Co. "It seems we've hit a short-term bottom, and the market has been stabilizing as we wait to hear what the Fed says."

According to preliminary calculations, the Dow Jones industrial average rose 96.41, or 0.78 percent, to 12,480.30. The blue chip index closed near its high of the day.

Broader indexes also rose. The Standard & Poor's 500 index rose 8.34, or 0.62 percent, to 1,362.30, and the Nasdaq composite advanced 8.15, or 0.35 percent, to 2,358.06.

Government bond prices fell as stocks rose, indicating that investors feel less need for the safety of Treasurys. The 10-year Treasury note's yield, which moves opposite its price, was at 3.66 percent, up from 3.58 percent late Monday.

The dollar was mixed against most major currencies, and gold prices fell.

Oil prices moved higher as traders waited to see what the Fed's next move will be. A barrel of light sweet crude rose 65 cents to $91.64 a barrel on the New York Mercantile Exchange.

Wall Street has been extremely volatile in recent weeks amid fears of a U.S. recession and further write-downs in the financial sector. However, that has given way to a more quiet tone this week as investors looked for their second-straight day of gains before the Fed's decision.

Central bankers are widely expected to lower its key rate, now at 3.5 percent, by as much as one-half percentage point to 3 percent when policy-makers wrap up on Wednesday. This will be the last meeting for seven weeks, but that doesn't rule out another emergency cut in the meantime.

Rate cuts are just one part of the central bank's plan to boost the economy. The Fed auctioned $30 billion in funds to commercial banks on Tuesday -- the fourth time since last month it has provided cash-strapped banks with extra reserves.

The auction is designed to keep banks lending and prevent a severe credit squeeze from pushing the country into a recession. Global banks have lost about $141 billion since the credit crisis began last year.

But, all of this has done little to convince investors that Wall Street will return to the high levels seen in October anytime soon. Since most investors have priced in a rate cut, the market might still continue to trend lower until the economy shows signs the Fed's policy is working, analysts said.

"It is going to take a little time, and one thing people have to realize is that sometimes consolidation is healthy because the market can't run forever," said Ryan Larson, senior equity trader at Voyageur Asset Management. "Since October we've been worried about slower growth and rising inflation, and right now we're in a haze."

Consolidation over the past three months has certainly been dramatic. The Dow is down about 12 percent, or more than 1,700 points; the S&P has plunged 13 percent, or about 204 points; and the tech-heavy Nasdaq has lost about 507 points, or 18 percent.

Larson also said the market is scrutinizing corporate earnings, and what chief executives say about 2008. As American Express Co.'s fourth-quarter results indicated Monday, companies are being forced to prepare for a climate throughout 2008 of deteriorating credit and slower spending.

AmEx, the world's third-largest credit card brand, said its fourth-quarter profit fell 10 percent after socking away more cash in reserve to use in case cardholders can't pay back their debt. Shares rose 40 cents to $47.80.

In other corporate news, embattled mortgage lender Countrywide Financial Corp., which was recently bought by Bank of America Corp., posted a sharp loss, as expected, due to its missteps in subprime lending. Countrywide rose 36 cents, or 6.2 percent, to $6.31; BofA added 74 cents to $41.93.

The Russell 2000 index of smaller companies rose 2.81, or 0.40 percent, to 705.20.

Advancing issues led decliners by a 2-to-1 basis on the New York Stock Exchange, where volume came to 1.34 billion.

In Asian trading, Tokyo's Nikkei stock average closed up 2.99 percent; Shanghai's key index added 0.87 percent; and Hong Kong's main index rose 0.99 percent. In European trading, London's FTSE rose 1.66 percent; Frankfurt's DAX rose 1.09 percent; and Paris' CAC rose 1.92 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## The Mint Man

*NYSE Dow Jones finished today at:*
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER +96.41 points +0.78% on Tuesday the 29th.

Sym Last........ ........Change..........
Dow 12,480.30 +96.41 +0.78% 
Nasdaq 2,358.06 +8.15 +0.35% 
S&P 500 1,362.30 +8.33 +0.62% 
10 Yr Bond(%) 3.6580% +0.0720 
*
Overseas*
In Asian trading, Tokyo's Nikkei stock average closed up 2.99 percent; Shanghai's key index added 0.87 percent; and Hong Kong's main index rose 0.99 percent. In European trading, London's FTSE rose 1.66 percent; Frankfurt's DAX rose 1.09 percent; and Paris' CAC rose 1.92 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,885.20 +96.30 +1.66% 
DAX 6,892.96 +74.11 +1.09% 
CAC 40 4,941.45 +93.15 +1.92% 

*Asia*
Symbol..... Last...... .....Change.......
Hang Seng +238.19 +0.99% 
HSCC Red Chip +37.99 +0.73% 
Nikkei 225 +390.95 +2.99% 


*Stocks Advance As Investors Await Fed*
Tuesday January 29, 4:28 pm ET 
By Joe Bel Bruno, AP Business Writer  
*Wall Street Mostly Higher As Federal Reserve Starts 2-Day Meeting on Interest Rates *


NEW YORK (AP) -- Wall Street advanced sharply Tuesday as the Federal Reserve opened a two-day meeting expected to bring another interest rate cut to revitalize the U.S. economy.
The Fed's rate decision is clearly the market's focus this week, and trading is marked by investors' conjectures about policymakers' thoughts on the weak economy and crunched financial industry. With an announcement not expected until Wednesday afternoon, the market in the meantime digested data on earnings, consumer spending and durable goods.

Investors did get some encouragement about the economy after the Commerce Department said orders for big-ticket items rose 5.2 percent in December, the widest jump in five months. In addition, the Conference Board reported consumer confidence fell in January -- pretty much as expected.

Economic data will continue to be scrutinized as investors try to determine what the Fed's take is on the economy. Investors are angling for a half-point cut following its emergency three-quarter-point cut last week.

"The market is just in a holding pattern," said Todd Leone, managing director of equity trading at Cowen & Co. "It seems we've hit a short-term bottom, and the market has been stabilizing as we wait to hear what the Fed says."

According to preliminary calculations, the Dow Jones industrial average rose 96.41, or 0.78 percent, to 12,480.30. The blue chip index closed near its high of the day.

Broader indexes also rose. The Standard & Poor's 500 index rose 8.34, or 0.62 percent, to 1,362.30, and the Nasdaq composite advanced 8.15, or 0.35 percent, to 2,358.06.

Government bond prices fell as stocks rose, indicating that investors feel less need for the safety of Treasurys. The 10-year Treasury note's yield, which moves opposite its price, was at 3.66 percent, up from 3.58 percent late Monday.

The dollar was mixed against most major currencies, and gold prices fell.

Oil prices moved higher as traders waited to see what the Fed's next move will be. A barrel of light sweet crude rose 65 cents to $91.64 a barrel on the New York Mercantile Exchange.

Wall Street has been extremely volatile in recent weeks amid fears of a U.S. recession and further write-downs in the financial sector. However, that has given way to a more quiet tone this week as investors looked for their second-straight day of gains before the Fed's decision.

Central bankers are widely expected to lower its key rate, now at 3.5 percent, by as much as one-half percentage point to 3 percent when policy-makers wrap up on Wednesday. This will be the last meeting for seven weeks, but that doesn't rule out another emergency cut in the meantime.

Rate cuts are just one part of the central bank's plan to boost the economy. The Fed auctioned $30 billion in funds to commercial banks on Tuesday -- the fourth time since last month it has provided cash-strapped banks with extra reserves.

The auction is designed to keep banks lending and prevent a severe credit squeeze from pushing the country into a recession. Global banks have lost about $141 billion since the credit crisis began last year.

But, all of this has done little to convince investors that Wall Street will return to the high levels seen in October anytime soon. Since most investors have priced in a rate cut, the market might still continue to trend lower until the economy shows signs the Fed's policy is working, analysts said.

"It is going to take a little time, and one thing people have to realize is that sometimes consolidation is healthy because the market can't run forever," said Ryan Larson, senior equity trader at Voyageur Asset Management. "Since October we've been worried about slower growth and rising inflation, and right now we're in a haze."

Consolidation over the past three months has certainly been dramatic. The Dow is down about 12 percent, or more than 1,700 points; the S&P has plunged 13 percent, or about 204 points; and the tech-heavy Nasdaq has lost about 507 points, or 18 percent.

Larson also said the market is scrutinizing corporate earnings, and what chief executives say about 2008. As American Express Co.'s fourth-quarter results indicated Monday, companies are being forced to prepare for a climate throughout 2008 of deteriorating credit and slower spending.

AmEx, the world's third-largest credit card brand, said its fourth-quarter profit fell 10 percent after socking away more cash in reserve to use in case cardholders can't pay back their debt. Shares rose 40 cents to $47.80.

In other corporate news, embattled mortgage lender Countrywide Financial Corp., which was recently bought by Bank of America Corp., posted a sharp loss, as expected, due to its missteps in subprime lending. Countrywide rose 36 cents, or 6.2 percent, to $6.31; BofA added 74 cents to $41.93.

The Russell 2000 index of smaller companies rose 2.81, or 0.40 percent, to 705.20.

Advancing issues led decliners by a 2-to-1 basis on the New York Stock Exchange, where volume came to 1.34 billion.

In Asian trading, Tokyo's Nikkei stock average closed up 2.99 percent; Shanghai's key index added 0.87 percent; and Hong Kong's main index rose 0.99 percent. In European trading, London's FTSE rose 1.66 percent; Frankfurt's DAX rose 1.09 percent; and Paris' CAC rose 1.92 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

All green, black_bird2 is that a bit better?


----------



## Kauri

Yahoo shares have fallen over 10% after they announced after the market closed a 23% drop in Q4 profit and gave a pessimistic assessment for 2008.  

Cheers
...........Kauri


----------



## ithatheekret

Awe that's gonna upset Macke , if my head wasn't pounding so much I'd turn the tv on , just for the laugh .


----------



## ithatheekret

I mentioned this in a couple of other threads , sorry for hijacking your thread .

The Dow transport is getting those green glows peoples , this can be looked at many ways , but I stand by the motto , transport leads the way . 

To me it's not a signal that it's all over yet , but it does tell me in my interpretation , that the markets are close to trying to attain a bottom .

It's actually positive to me , but not bullish the markets yet , it's that glint of light at the end of the tunnel , we're getting closer . IMHO The length of the tunnel is another matter altogether though .

Of course pellet , I mean Ben , could stuff it all up with a disappointment for a few more months .


----------



## barnz2k

check out the spike in the Dow last night! I guess thats when they announced the cut, up to 1.6% and then back to negative again within a couple hours!


----------



## Aussiejeff

The Mint Man said:


> I have been away for 6 days, the news paper was my only connection to the markets..... I should go away more often




Do you have any more holidays due soon? 

AJ


----------



## Aussiejeff

barnz2k said:


> check out the spike in the Dow last night! I guess thats when they announced the cut, up to 1.6% and then back to negative again within a couple hours!




You are too generous... 

In fact, the DJIA fell a whopping 200pts from the post announcement intra-day high in JUST 1 HOUR of final trade. That sort of swan dive off the cliff really inspires confidence ... NOT!

I suspect the next inevitable .5% - 1% worth of rate cuts will have a similar **P-H-H-H-T-T-TT!!!** response...


AJ


----------



## The Mint Man

*NYSE Dow Jones finished today at:*
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

Sym Last........ ........Change..........
Dow 12,442.83 -37.47 -0.30%
Nasdaq 2,349.00 -9.06 -0.38% 
S&P 500 1,355.81 -6.49 -0.48% 
10 Yr Bond(%) 3.7330% +0.0750 

*Overseas*
Overseas markets closed lower ahead of the U.S. rate decision. In Tokyo, the Nikkei fell 0.99 percent. In Europe, London's FTSE 100 dropped 0.81 percent, Paris' CAC 40 lost 1.37 percent and Frankfurt's DAX fell 0.26 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,837.30 -47.90 -0.81% 
DAX 6,875.35 -17.61 -0.26% 
CAC 40 4,873.57 -67.88 -1.37% 

*Asia*
Symbol..... Last...... .....Change.......
Hang Seng 23,653.69 -638.11 -2.63% 
HSCC Red Chip 5,063.37 -150.82 -2.89%
Nikkei 225 13,345.03 -133.83 -0.99% 

*Stocks Pull Back After Fed Rate Cut*
Wednesday January 30, 4:55 pm ET 
By Madlen Read, AP Business Writer  
*Wall Street Gives Up Big Gains to Profit-Taking After Federal Reserve Lowers Interest Rates​*

NEW YORK (AP) -- A still-anxious Wall Street closed lower Wednesday, sacrificing the advance it made after the Federal Reserve cut interest rates half a percentage point. Investors collected profits after nearly three sessions of big gains, unwilling to leave money on the table amid ongoing economic uncertainty.

It wasn't surprising that the market pulled back, having suffered months of losses and having driven the Dow Jones industrials up more than 470 points so far this week ahead of the late-day downturn.

Anthony Conroy, managing director and head trader for BNY ConvergEx Group, said expectations of more downgrades of bond insurers like Ambac Financial Group Inc. and MBIA Inc. -- as well as uneasiness ahead of Thursday's Commerce Department report on personal income and spending inflation -- was enough to spur people to cash in profits from the market's initial gains.

Key reports on the job market and manufacturing set to arrive Friday could also add to investors' concerns about the state of the economy, which has been dragged down by a crumbling housing market and losses at major financial institutions.

"Volatility is here to stay," Conroy said. "People who think these issues will go away overnight in one Fed rate cut are mistaken."

According to preliminary calculations, the Dow, which had been up more than 200 points after the Fed's decision, finished down 37.47, or 0.30 percent, at 12,442.83.

Broader stock indicators also turned lower. The Standard & Poor's 500 index fell 6.49, or 0.48 percent, to 1,355.81, and the Nasdaq composite index fell 9.06, or 0.38 percent, to 2,349.00.

Government bond prices fell after the Fed's decision, sending yields higher. The yield on the 10-year benchmark note rose to 3.74 percent from 3.68 percent late Tuesday.

Scott Fullman, director of investment strategy for I.A. Englander & Co., said it was unlikely the market's downturn was because of disappointment over the rate cut or the Fed's accompanying statement, which if anything asserted that the central bank is willing to lower rates further if needed.

"We're seeing profit taking ahead of the employment report on Friday," Fullman said. "The market has had a really nice run-up this week, and investors are taking advantage of that."

The fed funds rate, which now stands at 3 percent, is the interest banks pay one another on overnight loans. It is at its lowest point since spring 2005. The discount rate, now at 3.50 percent, is the interest the Fed charges on loans to banks.

The Fed's decision to cut rates follows an emergency rate cut last week of three-quarters of a percentage point. The central bank stepped in at the time after global markets worldwide fell sharply amid fears that the U.S. economy was tipping into recession and would hurt the global growth. The move was the biggest one-day move in more than 20 years.

The rate cuts came on the same day as fresh evidence arrived that the economy had slowed significantly in the final three months of 2007. Figures showed gross domestic product expanded at a slight 0.6 percent pace in the fourth quarter, less than half what had been expected. For all of 2007, gross domestic product grew 2.2 percent, the weakest rate since 2002.

Wednesday's move was the fifth cut the Fed made since it began making reductions in September following turmoil in the credit markets and in stocks markets.

"The consumer is essentially under enormous pressure," said Thomas J. Lee, chief U.S. equities analyst at JPMorgan. Lee said that even if the $146 billion tax rebate and business incentive package proposed by the Bush administration is passed Feb. 15 by Congress, it is going to take some time to get into the hands of consumers.

The subprime mortgage crisis has been creating problems for homeowners and financial centers alike.

Meredith Whitney, an Oppenheimer and Co. analyst, wrote in a research note before the market opened Wednesday that ratings agencies are likely to downgrade already-pummeled bond insurers, which could force banks' assets to lose an additional $40 billion to $70 billion in value this year. That's because, if bond insurers have problems, so could the bonds they insure.

Bond insurer Ambac Financial Group Inc. fell $2.08, or 16.1 percent, to $10.85, while rival MBIA Inc. fell $2.02, or 12.6 percent, to $13.96.

Meanwhile, Swiss bank UBS said it will have a $11.4 billion fourth-quarter loss mostly because of bad investments in subprime mortgages. Analysts had expected a much smaller shortfall. French bank BNP Paris Wednesday said its quarterly profit will decline by 40 percent from year-earlier levels.

Outside the financial sector, Yahoo Inc. took a thumping Wednesday after the Internet search company said its quarterly profit declined, its 2008 sales outlook was below analysts' forecasts, and that it was slashing 1,000 jobs.

Yahoo Inc. fell $1.76, or 8.5 percent, to $19.05.

On Thursday, the Commerce Department releases its December personal spending report, which includes the closely-watched personal consumption expenditures deflator. The Commerce Department's GDP report showed that core prices, which exclude food and energy, rose at a 2.7 percent rate in the fourth quarter -- up from 2 percent in the third quarter of 2007, and the largest quarterly jump since the spring of 2006.

If inflation becomes a bigger worry for the Fed than economic growth, as it was in the early part of last year, the central bank may hesitate to lower rates further.

Declining issues outnumbered advancers by about 3 to 2 on the New York Stock Exchange, where volume came to 1.80 billion shares.

The Russell 2000 index of smaller companies fell 9.71, or 1.38 percent, at 695.49.

Crude oil rose 69 cents to settle at $92.33 a barrel on the New York Mercantile Exchange.

The dollar was mixed against other currencies, while gold prices dipped.

Overseas markets closed lower ahead of the U.S. rate decision. In Tokyo, the Nikkei fell 0.99 percent. In Europe, London's FTSE 100 dropped 0.81 percent, Paris' CAC 40 lost 1.37 percent and Frankfurt's DAX fell 0.26 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## The Mint Man

Aussiejeff said:


> Do you have any more holidays due soon?
> AJ



I'm predicting a huge market up-turn around May-June, in fact from the 26th May to 11th June will be 16 up days straight.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER +207.53 points	+1.67% on Thursday 31
Sym Last........ ........Change..........
Dow	12,650.36	+207.53	+1.67%
Nasdaq	2,389.86	+40.86	+1.74%
S&P 500	1,378.55	+22.74	+1.68%
30-yr Bond	4.3540%	-0.0790

NYSE Volume	5,386,141,000
Nasdaq Volume	2,937,049,750

*Overseas*
Japan's Nikkei closed up 1.85 percent. 

London's FTSE 100 closed up 0.73 percent, Frankfurt's DAX lost 0.34 percent and Paris' CAC 40 slipped 0.08 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,879.80	+42.50	+0.73%
DAX	6,851.75	-23.60	-0.34%
CAC 40	4,869.79	-3.78	-0.08%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 	13,592.47 	+247.44 	+1.85%
Hang Seng 	23,446.86 	-206.83 	-0.87%
Straits Times 	2,998.83 	-1.20 	-0.04%

http://biz.yahoo.com/ap/080131/wall_street.html
*Stocks Bounce Higher As Bond Woes Ease*
Thursday January 31, 8:20 pm ET
By Tim Paradis, AP Business Writer
*Stocks Erase Early Losses, Charge Higher Following Easing of Concerns About Bond Insurers*

NEW YORK (AP) -- Wall Street ended its worst January since 1990 with a huge advance Thursday after investors set aside worries about bond insurers and grew more optimistic that the Federal Reserve's interest rate cuts will indeed help lift the economy.

The Standard & Poor's 500 index, the market measure most closely followed by professional traders, lost 6.1 percent for the month, its biggest January drop since 1990, when it fell 6.88 percent. Meanwhile the Dow Jones industrials rose more than 200 points Thursday but still suffered their worst January in eight years.

The day's trading emerged as a microcosm of the entire month, with the Dow first falling more than 190 points, and then by late afternoon, soaring more than 250. It capped a January that saw frequent triple-digit moves in the blue chips as investors alternately anguished about the fallout from the housing and mortgage crisis and celebrated any news that indicated the damage might limited.

Still, the market ended the month with heavy losses, evidence of how dejected investors have become. The Fed's 1.25 percentage points in interest rate cuts, designed to stave off a recession, ultimately gave Wall Street some reassurance that the economy might soon show signs of recovery -- although the market still gyrated after the latest 0.50 percentage point cut on Wednesday.

Bond insurer MBIA Inc. also mollified Wall Street Thursday when its chief executive, Gary Dunton, told investors he is confident the company can retain its crucial AAA credit rating and that MBIA will still be able to raise fresh capital.

The notion that bond insurers could perhaps avoid being felled by a rush of claims over swaths of bad debt offered solace for investors who have for months worried about the fallout from a sharp pullback in the housing market and the resulting souring mortgage debt.

"Today is really more of a relief rally because the Fed did what the Street wanted. They did what was expected of them and the MBIA news relieved the fears of some investors," said Ryan Detrick, strategist at Schaeffer's Investment Research in Cincinnati. "For once there's actually maybe some calm coming into Wall Street."

The Dow rose 207.53, or 1.67 percent, to 12,650.36.

For the month, the Dow lost 4.63 percent -- its worst January since losing 4.84 percent at the start of 2000.

Broader stock indicators also jumped Thursday. The S&P 500 index rose 22.74, or 1.68 percent, to 1,378.55, and the Nasdaq composite index rose 40.86, or 1.74 percent, to 2,389.86.

The Russell 2000 index of smaller companies rose 17.81, or 2.56 percent, to 713.30.

Government bond prices rose. The 10-year Treasury note's yield, which moves opposite its price, fell to 3.59 percent from 3.63 percent late Wednesday.

The dollar was mixed against most major currencies, while gold prices rose.

Oil prices slid. Light, sweet crude for March delivery fell 58 cents to settle at $91.75 a barrel on the New York Mercantile Exchange.

The rebound in stocks came even as reports on sluggish consumer activity and higher jobless claims reflected weakness in the economy. However, along with the Fed's rate decision, Wall Street this week awaited the Labor Department's January report on payrolls and unemployment. Due Friday morning, the reading could shape sentiment because a strong job market is considered crucial to maintaining consumer spending, which accounts for more than two-thirds of U.S. economic activity.

MBIA's comments about its access to capital and the possibility of raising more seemed to dampen unease about recent moves by rating agencies relating to bond insurers. Moody's Investors Service and Standard & Poor's have said they are reviewing ratings on MBIA and other bond insurers.

MBIA, which had been down sharply after reporting a $2.3 billion fourth-quarter loss amid heavy write-downs, closed up $1.54, or 11 percent, to $15.50.

But MBIA's comments won't erase all of Wall Street's concerns about the credit markets.

"It seems to be a tug-of-war between 'Is this a systemic problem?' or 'Is this more of a cyclical problem that can be corrected with sort of the standard fare of monetary stimulus?'" said Kevin Gaughan, portfolio manager and equity strategist at Wells Capital Management in Milwaukee.

Economic readings could indicate how pervasive the troubles are.

On Thursday, the Commerce's Department's personal consumption and income report for December underscored the fact that the economy continued to weaken as 2007 ground to its end. Consumer spending in December -- the year's peak shopping season -- had its weakest performance since September 2006. The report's price index for personal consumption expenditures, a gauge of inflation closely monitored by the Fed, rose 0.2 percent in December from November levels. The department said personal incomes rose 0.5 percent last month.

Separately, the Labor Department reported a startling jump of 69,000 jobless claims in the latest week, pushing the total to 375,000. That the highest level since early October and the largest increase since September 2005. Thomson/IFR had forecast a gain of just 14,000 new claims.

Thursday's stock market rally, helped gains in beaten-down sectors such as financials and home builders, could relate in part to short sellers maneuvering positions on the final session of the month. Traders who sell a stock "short" bet its price will fall and are forced to step in and buy the stock should it begin to rise. That purchasing can exacerbate rallies.

Among financials, Citigroup Inc. rose 61 cents, or 2.2 percent, to $28.17, while homebuilder KB Home rose $2.32, or 9.2 percent, to $27.50.

Advancing issues outnumbered decliners by about 3 to 1 on the New York Stock Exchange, where consolidated volume totaled 5.22 billion shares, compared with 4.64 billion shares seen Wednesday.

Overseas, Japan's Nikkei closed up 1.85 percent. In Europe, London's FTSE 100 closed up 0.73 percent, Frankfurt's DAX lost 0.34 percent and Paris' CAC 40 slipped 0.08 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html


The Dow Jones industrial average ended the week up 536.02, or 4.39 percent, at 12,743.19. The Standard & Poor's 500 index finished up 64.81, or 4.87 percent, at 1,395.42. The Nasdaq composite index ended the week up 87.16, or 3.75 percent, at 2,413.36.

The NYSE DOW closed HIGHER +92.83 points	+0.73% on Friday February 1
Sym Last........ ........Change..........
Dow	12,743.19	+92.83	+0.73%
Nasdaq	2,413.36	+23.50	+0.98%
S&P 500	1,395.42	+16.87	+1.22%
30-yr Bond	4.3180%	-0.0360

NYSE Volume	4,652,587,000
Nasdaq Volume	3,105,832,500

*Overseas*
Japan's Nikkei closed down 0.70 percent. Britain's FTSE 100 finished up 2.54 percent, Germany's DAX index gained 1.71 percent and France's CAC-40 rallied 2.22 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,029.20	+149.40	+2.54%
DAX	6,968.67	+116.92	+1.71%
CAC 40	4,978.06	+108.27	+2.22%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,497.16	-95.31	-0.70%
Hang Seng	24,123.58	+667.84	+2.85%

http://biz.yahoo.com/ap/080201/wall_street.html
*Stocks Cap Strong Week With Gains*
Friday February 1, 5:47 pm ET
By Tim Paradis, AP Business Writer
*Stocks Cap Strong Week With Gains After Flurry of Economic Readings, Microsoft Bid for Yahoo*

NEW YORK (AP) -- Wall Street capped a week of big gains with another sizable advance Friday after investors set aside anxiety over news that the economy lost jobs last month and focused on Microsoft Corp.'s bid for Internet company Yahoo Inc. and a possible rescue plan for the troubled bond insurance sector.

The Dow Jones industrial average and the Standard & Poor's 500 index each rose more than 4 percent for the week, their steepest gains since March 2003.

Stocks fluctuated at times Friday, however, as investors weighed seemingly contradictory readings on the economy. Wall Street was pleased by Microsoft's $44.6 billion bid for Yahoo. Merger news, which often energizes stocks, has been in short supply for months. But the mix of economic news reminded investors of the continuing fallout from the housing and mortgage crisis.

The first blow came from the Labor Department's worrisome employment report for January. The economy lost 17,000 jobs, marking the first contraction of the labor market in more than four years. The news confounded economists, who were expecting 70,000 new jobs, according to Thomson/IFR. The unemployment rate fell to 4.9 percent from 5 percent in December, though the move came as the labor pool shrank.

The Commerce Department added to the fray, reporting that construction spending dropped 1.1 percent in December -- the most in 15 months and twice what analysts expected.

And rating agency Moody's Investors Service warned on a conference call Friday that it expects to downgrade some bond insurers this month. A top rating is crucial for bond insurers to draw new business and for investors to feel secure about the bonds these companies already insure.

Stocks did get some ballast from a report showing a pickup in the nation's manufacturing sector in January. The Institute for Supply Management, a business group, said its index of manufacturing activity rose to 50.7 from 48.4 in December. Wall Street had expected the figure would come in at 47, a reading that would indicate a contraction of the manufacturing sector.

"We're starting to see the long-term investors and the fund mangers come back into the market. That's why I think you're seeing stocks rally even when there is negative news," said Marc Pado, U.S. market strategist for Cantor Fitzgerald.

The Dow Jones industrial average rose 92.83, or 0.73 percent, to 12,743.19 after climbing more than 200 points Thursday.

Broader stock indicators also moved higher. The Standard & Poor's 500 index rose 16.87, or 1.22 percent, to 1,395.42, and the Nasdaq composite index advanced 23.50, or 0.98 percent, to 2,413.36.

For the week, the Dow jumped 536.02 points, or 4.4 percent. The Standard & Poor's 500 index, the market measure most closely followed by professional traders, added 4.9 percent and the Nasdaq composite index rose 3.8 percent.

The Russell 2000 index of smaller companies rose 17.20, or 2.41 percent, Friday to 730.50.

Advancing issues outnumbered decliners by more than 3 to 1 on the New York Stock Exchange, where consolidated volume came to 4.51 billion shares, compared with 5.22 billion shares traded Thursday.

Bond prices slipped in late trading. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.60 percent from 3.59 percent late Thursday.

The dollar rose against most other major currencies, while gold prices fell.

Light, sweet crude oil fell $2.79 to settle at $88.96 per barrel on the New York Mercantile Exchange after the employment report raised concerns that the U.S. economy will slow and hurt demand for oil.

Stocks climbed Friday after a week in which Wall Street saw huge gains but also enormous volatility. The week began with a sharp advance as investors awaited the Federal Reserve's decision on interest rates. Stocks extended their gains Tuesday and on Wednesday the central bank delivered on a widely expected half-point cut in interest rates. But unease about bond insurers short-circuited a rally in stocks after the rate cut. Stocks sold off again early Thursday but performed an about-face to close sharply higher as investors considered the effects of rate cuts and the possibility that the government might orchestrate a rescue for the trouble bond insurance market.

The latest rate cut meant the Fed had slashed rates by an unprecedented 1.25 percent in little more than a week, a move that appeared to largely erase doubts about whether the central bank would step in to assuage investors' fears about the health of the financial sector and, more broadly, of recession.

"We expect volatility will remain elevated but will abate slowly because we think some of the recession talk will wane but not go completely off the table," said Nicholas Raich, director of equity research at National City Private Client Group in Cleveland.

"There's no certainty and there's no clarity but valuations are cheap so there a lot of bottom-fishers in here looking for bargains," he said, referring to questions investors still have about the health of the financial sector.

The week's gains restored some of the huge losses seen in the earliest days of the year. Still, stocks this week finished what was their worst January since 1990. The Standard & Poor's 500 index lost 6.1 percent for the month.

Bond insurers showed gains Friday amid word that efforts are moving ahead to aid the troubled bond insurance market, though no proposal was imminent.

A person with direct knowledge of discussions between banks and regulators about a possible bailout told The Associated Press that several plans were under consideration, though one that examined each company's needs was the most likely option. The person asked not to be named because he was not authorized to speak publicly.

Ambac Financial Group Inc. rose $1.56, or 13 percent, to $13.20, while MBIA Inc. rose 86 cents, or 5.6 percent, to $16.36.

In corporate news, Yahoo surged $9.20, or 48 percent, to $28.38, on word of the buyout offer for $31 per share. Yahoo said it would consider the offer. Microsoft, one of the 30 stocks that make up the Dow industrials, fell $2.15, or 6.6 percent, to $30.45.

Google Inc. fell $48.40, or 8.6 percent, to $515.90 after reporting its fourth-quarter earnings and revenue growth slowed at a faster pace than Wall Street expected.

Motorola Inc. jumped $1.19, or 10 percent, to $12.69 after announcing it is considering selling a sale or spinoff its lackluster mobile phone business.

Overseas, Japan's Nikkei closed down 0.70 percent. Britain's FTSE 100 finished up 2.54 percent, Germany's DAX index gained 1.71 percent and France's CAC-40 rallied 2.22 percent.

AP Business Writer Stephen Bernard in New York contributed to this report.

The Dow Jones industrial average ended the week up 536.02, or 4.39 percent, at 12,743.19. The Standard & Poor's 500 index finished up 64.81, or 4.87 percent, at 1,395.42. The Nasdaq composite index ended the week up 87.16, or 3.75 percent, at 2,413.36.

The Russell 2000 index finished the week up 41.90, or 6.08 percent, at 730.50.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 14,091.09, up 667.47 points, or 4.97 percent, for the week. A year ago, the index was at 14,615.38.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed LOWER -108.03 points	-0.85% on Monday February 4
Sym Last........ ........Change..........
Dow	12,635.16	-108.03	-0.85%
Nasdaq	2,382.85	-30.51	-1.26%
S&P 500	1,380.82	-14.60	-1.05%
30-yr Bond	4.3740%	+0.0560

NYSE Volume	3,500,585,250
Nasdaq Volume	2,146,952,500

*Overseas*
Japan's Nikkei stock average rose 2.69 percent, Hong Kong's Hang Seng index climbed 3.77 percent, and China's benchmark but often-volatile Shanghai Composite index jumped 8.13 percent after reports indicated the economic effects from harsh winter storms in China might not have been as bad as feared.

Britain's FTSE 100 fell 0.05 percent, Germany's DAX index rose 0.46 percent, and France's CAC-40 fell 0.09 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,026.20	-3.00	-0.05%
DAX	7,000.49	+31.82	+0.46%
CAC 40	4,973.64	-4.42	-0.09%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,859.70	+362.54	+2.69%
Hang Seng	25,032.08	+908.50	+3.77%

http://biz.yahoo.com/ap/080204/wall_street.html
*Stocks Decline As Investors Mull Economy*
Monday February 4, 5:42 pm ET
By Tim Paradis, AP Business Writer
*Stocks Fall After Week of Big Gains; Investors Shrug Off Stronger-Than-Expected Factory Report*

NEW YORK (AP) -- Wall Street retrenched Monday, closing sharply lower as investors showed their cautious side and cashed in profits from the market's best week in nearly five years. The Dow Jones industrial average fell more than 100 points.

Given the scope of last week's gains, a pullback Monday wasn't unexpected and perhaps reflected the normal ebb-and-flow of trading.

"It's not like all of our problems went away because the market was up a couple of days last week. There are still some problems hanging over," said Tom Higgins, chief economist at Payden & Rygel Investment Management in Los Angeles. He said investors chiefly remained concerned about the labor market -- given the huge effect of consumer spending on the economy -- and on the feasibility of efforts to aid struggling bond insurers.

The session's move lower continued even after a Commerce Department report showed that orders at U.S. factories rose by 2.3 percent in December -- the biggest increase since July. Analysts had been expecting a 2 percent increase after a 1.7 percent gain in November.

While stocks showed little reaction to the factory orders report, Wall Street remains eager for any clues about the nation's economic health. It continued to watch earnings reports trickle in; the readings could help indicate whether Wall Street last week carved the beginnings of a sustainable recovery. Last week, the Dow Jones industrial average jumped 4.39 percent, the Standard & Poor's 500 index gained 3.75 percent, and the Nasdaq composite index advanced 4.87 percent.

Downgrades of credit card companies American Express Co. and Capital One Financial Corp. also weighed on stocks Monday.

The Dow fell 108.03, or 0.85 percent, to 12,635.16.

Broader stock indicators also lost ground. The S&P 500 index fell 14.60, or 1.05 percent, to 1,380.82, and the Nasdaq fell 30.51, or 1.26 percent, to 2,382.85.

The Dow is 10.8 percent below its record close of 14,164.53 from Oct. 9, but is up 8.6 percent from the 15-month lows it hit in January. The Federal Reserve's second interest-rate cut in about a week helped boost stocks last week.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.64 percent from 3.60 percent late Friday.

The dollar slipped against most other major currencies, and gold prices also fell.

Light, sweet crude oil rose rose $1.06 to settle at $90.02 a barrel on the New York Mercantile Exchange.

In corporate news, Google Inc. said Sunday that Microsoft Corp.'s $42 billion bid for Yahoo Inc., announced Friday, amounts to an attempt to gain illegal control over the Internet. Microsoft Chief Executive Steve Ballmer said Monday the proposed deal would leave the software maker as a "strong No. 2 competitor" against Google.

Google, whose stock is down about one-third from its high of $741.79 on Nov. 6, fell $20.47, or 4 percent, to $495.43, Dow component Microsoft dipped 26 cents to $30.19, and Yahoo rose 95 cents, or 3.4 percent, to $29.33.

Financial stocks, which helped drive last week's gains, fell after the Financial Times reported that major private equity firms aren't likely to take part in efforts to shore up the finances of troubled bond insurers Ambac Financial Group Inc. and MBIA Inc.

Ambac fell $1.81, or 13.7 percent, to $11.39, while MBIA declined 97 cents, or 5.9 percent, to $15.39.

American Express, one of the 30 stocks that make up the Dow industrials, fell $1.94, or 3.9 percent, to $47.66, while Capital One fell $4.32, or 7.6 percent, to $52.65.

"We have some downgrades in the financial sector that are hitting those stocks," said Peter Cardillo, chief market economist at Avalon Partners. "And we also had a fairly good week last week, so it would only be natural to fall this week."

"The market also needs closure on what is going to happen to the bond insurance industry. Until we know if it gets a rescue plan, the stock market is likely to stay defensive."

Wendy's International Inc. fell $1.25, or 5 percent, to $23.93 after reporting its fourth-quarter earnings rose 42 percent amid increased profit margins but missed expectations.

Declining issues outnumbered advancers by about 3 to 2 on the New York Stock Exchange. Consolidated volume came to 3.38 billion shares Monday, down from 4.51 billion shares Friday.

The Russell 2000 index of smaller companies fell 7.04, or 0.96 percent, to 723.46.

Overseas, Japan's Nikkei stock average rose 2.69 percent, Hong Kong's Hang Seng index climbed 3.77 percent, and China's benchmark but often-volatile Shanghai Composite index jumped 8.13 percent after reports indicated the economic effects from harsh winter storms in China might not have been as bad as feared.

Britain's FTSE 100 fell 0.05 percent, Germany's DAX index rose 0.46 percent, and France's CAC-40 fell 0.09 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed LOWER -65.03 points -0.53% on Wednesday February 6
Sym Last........ ........Change..........
Dow 12,200.10 -65.03 -0.53% 
Nasdaq 2,278.75 -30.82 -1.33% 
S&P 500 1,326.45 -10.19 -0.76% 
10 Yr Bond(%) 3.6140% +0.0270 

*Overseas*
Japan's Nikkei stock average dropped 4.7 percent and Hong Kong's Hang Seng index fell 5.4 percent. 

In Europe, Britain's FTSE 100 rose 0.13 percent, Germany's DAX index rose 1.22 percent, and France's CAC-40 rose 0.83 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,875.40 +7.40 +0.13% 
DAX 6,847.51 +82.26 +1.22% 
CAC 40 4,816.43 +39.57 +0.83% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,099.24 -646.26 -4.70% 
Hang Seng 23,469.46 -1,339.24 -5.40 

http://biz.yahoo.com/ap/080206/wall_street.html
*Stocks Extend Tuesday's Drop*
Wednesday February 6, 4:28 pm ET 
By Madlen Read, AP Business Writer  
*Wall Street Gives Up Early Gains After Fed Official Says Inflation Remains a Worry *

NEW YORK (AP) -- Wall Street pulled back for the third straight day Wednesday as many investors, still uneasy about the economy, sold off after a Federal Reserve official suggested rising inflation could prevent the central bank from making further interest rate cuts.

Although the economic slowdown is a big concern, "we must not lose sight of the other part of the Fed's dual mandate -- which is price stability," Federal Reserve Bank of Philadelphia President Charles Plosser said, according to Dow Jones Newswires. The economy has been weakening but costs remain high, leading some economists to believe that the United States is headed for a troubling predicament known as stagflation.

Plosser's comments were not surprising, particularly since he is known for being more apt to argue against a rate cut than other Fed members. Nonetheless, the speech -- along with a dismal sales report from Macy's -- sapped some of Wall Street's relief Wednesday over better-than-expected fourth-quarter productivity and labor cost data and profit results from Walt Disney Co.
"It just shows you the market's really skittish and temperamental," said Jim Herrick, director of equity trading at Baird & Co. "I really believe the market is driven by emotion, that there's this want to test the lows again."

After climbing until early afternoon Wednesday, stocks switched gears and began extending the losses they made Tuesday, when the Dow Jones industrial average suffered its biggest percentage drop since Feb. 27, 2007. The trigger that day was the Institute for Supply Management's report of a surprising January contraction in the U.S. service sector -- news that bolstered the argument that the nation is in recession.

"There's no smoking gun here; we get one bad number, one good number. .... We're probably going to chop around here until investors get a better feel on this recession-or-no-recession question," said Phil Orlando, chief equity market strategist at Federated Investors.

According to preliminary calculations, the Dow fell 65.03, or 0.53 percent, to 12,200.10, after rising more than 100 points in earlier trading.

On Tuesday, the blue-chip index dropped 370 points, or 2.93 percent, and on Monday it lost 108 points. Because it rallied so strongly last week, it remains above the 15-month trading low it sank to in late January.

Broader stock indicators also gave up gains Wednesday. The Standard & Poor's 500 index fell 10.18, or 0.76 percent, to 1,326.46, and the Nasdaq composite index fell 30.82, or 1.33 percent, to 2,278.75.

Government bond prices remained lower on the stronger-than-anticipated economic data. The yield on the 10-year Treasury note, which moves opposite its price, rose to 3.60 percent from 3.56 percent late Tuesday.

Stocks have been extremely volatile lately, given the uncertainty in the market about whether a recession is here, how long it might last, how deep it might be and how it may affect corporate profits.

"You'll find pockets of differentiation in the economy, but the overarching theme is that things are slowing down," said John O'Donoghue, co-head of equities at Cowen & Co.

Macy's Inc. on Wednesday afternoon said sales at stores open at least a year fell 7.1 percent in January compared to the same month a year ago, worse than expected. The department store operator also said it is cutting 2,550 jobs. Macy's fell $1.16, or 4.6 percent, to $23.94.

Corporate profits for the fourth quarter have been all over the map, but generally, they have been decent outside the financial and consumer discretionary sectors.

Walt Disney posted a 26 percent decline in profit late Tuesday, but the results beat expectations. The company -- one of the 30 companies that make up the Dow Jones industrials -- reported a 9 percent rise in revenue, thanks in part to successful brands such as ESPN, "High School Musical" and "Hannah Montana." Disney shares rose $1.43, or 4.8 percent, to $31.50.

Time Warner Inc. on Wednesday posted a profit decline in its fourth quarter. But excluding the effect of a year-ago gain from the sale of AOL's online access business in Europe, profit rose due to better results at the media conglomerate's cable TV and movie operations. Time Warner rose 31 cents, or 2 percent, to $15.71.

And late Tuesday, JDS Uniphase Corp., which makes communications test and fiber-optic network equipment, said its fiscal second-quarter earnings of fell slightly year-over-year but widely surpassed Wall Street estimates. JDS Uniphase shot up $2.64, or 26 percent, to $12.80.

The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude oil dropped $1.27 to $87.14 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies fell 9.09, or 1.30 percent, to 692.49.

Declining issues outnumbered advancers by about 5 to 3 on the New York Stock Exchange, where volume came to 1.54 billion shares.

Overseas stocks were mixed. Japan's Nikkei stock average dropped 4.7 percent and Hong Kong's Hang Seng index fell 5.4 percent. In Europe, Britain's FTSE 100 rose 0.13 percent, Germany's DAX index rose 1.22 percent, and France's CAC-40 rose 0.83 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER +46.90 points +0.38%  on Thursday February 7
Sym Last........ ........Change..........
Dow 12,247.00 +46.90 +0.38% 
Nasdaq 2,293.03 +14.28 +0.63% 
S&P 500 1,336.91 +10.46 +0.79% 
10 Yr Bond(%) 3.7360% +0.1220 

*Overseas*
Overseas, many Asian markets were closed for a holiday, but Japan's stock market was open and its Nikkei average rose 0.82 percent. 

In Europe, Britain's FTSE 100 fell 2.58 percent, Germany's DAX index fell 1.66 percent, and France's CAC-40 fell 1.92 percent.


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,724.10 -151.30 -2.58% 
DAX 6,733.72 -113.79 -1.66% 
CAC 40 4,723.80 -92.63 -1.92% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,207.15 +107.91 +0.82% 

http://biz.yahoo.com/ap/080207/wall_street.html
*Stocks Finish Higher After Fitful Day*
Thursday February 7, 4:25 pm ET 
By Madlen Read, AP Business Writer  
*Wall Street Rebounds From Recent Losses As Lure of Bargains Outweighs Disappointing Data *

NEW YORK (AP) -- Wall Street finished moderately higher in fitful trading Thursday as investors, still nervous about the economy, decided to buy back into a stock market pummeled by three straight days of losses. 

With the market having largely priced in the possibility of a recession, many believe there are plenty of valuable stocks at cheap prices. Before Thursday, the Dow Jones industrial average had fallen this week by 543 points, or 4.26 percent, giving up all of last week's sharp gains.

Though the market ended up rising Thursday, trading was extremely fickle due to a batch of gloomy data that included declining January sales at major retailers, a drop in December sales of pending homes, and a disappointing outlook from Internet networking supplier Cisco Systems Inc. The major indexes seesawed throughout the day.

"We're kind of trying to create a silk purse out of a sow's ear here," said Hugh Johnson, chief investment officer of Johnson Illington Advisors. "The earnings are lousy, the economic numbers are lousy."

According to preliminary calculations, the Dow rose 46.90, or 0.38 percent, to 12,247.00 after trading down about 80 points and up about 130. The index remains more than 13 percent below its record close on Oct. 9, 2007 of 14,164.53.

Broader stock indicators also recovered some ground. The Standard & Poor's 500 index rose 10.46, or 0.79 percent, to 1,336.91. The technology-heavy Nasdaq composite index rose 14.28, or 0.63 percent, to 2,293.03.

Government bonds fell. The 10-year Treasury note's yield, which moves opposite its price, rose to 3.76 percent from 3.60 percent late Wednesday.

Investors may have been encouraged to buy back into stocks due to a rise in the dollar, whose decline over the past several months has contributed to worries about inflation and a possible drop in foreign interest in U.S. investments.

Peter Cardillo, chief market economist at Avalon Partners, said the dollar's advance followed remarks by European Central Bank chief Jean-Claude Trichet that the United States and Europe remain economically intertwined. This suggested to investors that strength in other countries can help stabilize the United States during its rough patch. Fears of a global economic slowdown have been weighing on stocks around the world.

As expected on Thursday, the Bank of England lowered its key interest rate by a quarter percentage point to 5.25 percent, its second cut in three months, while the European Central Bank left its key rate unchanged at 4 percent.

Another argument for bargain hunting Thursday was that the recent spate of negative economic data raises the likelihood of the Federal Reserve lowering interest rates again to spur growth. Atlanta Fed President Dennis Lockhart said Thursday the Fed's "focus, religiously, is on the general economy, the real economy."

Moreover, the stock market often portends economic declines, rather than the other way around.

"Stocks do worse during times of slow growth than they do during recession," said Brian Gendreau, investment strategist for ING Investment Management. "If we're in a shallow and short recession, for all anyone knows, we might be halfway through."

The market's indecisive movements throughout the day show, however, that it has not moved past the many worries swirling about personal spending, the crumpling housing market and deteriorating conditions in consumer credit.

Late Wednesday, Internet networking supplier Cisco Systems Inc. issued a 10 percent sales growth forecast for its current quarter that fell well below the 15 percent Wall Street projected. But Cisco finished up 30 cents at $23.38, after some investors saw the stock was undervalued.

And in a counterintuitive move, retail stocks -- also regarded as cheap right now -- rose even after the nation's retailers logged their worst January in about 40 years. Wal-Mart Stores Inc. reported a 0.5 percent rise in January same-store sales, or sales at stores open for at least a year, while Target Corp., Gap Inc., Limited Brands Inc. and AnnTaylor Stores Corp. each said their sales fell.

Not all news about retailing was bad -- J.C. Penney Co. raised its earnings forecast for the last three months of 2007. Its stock jumped $3.72, or 8.5 percent, to $47.44.

But on top of the mostly weak retail reports, the Labor Department reported that jobless claims fell last week by 22,000, a smaller decline than many economists predicted, and the National Association of Realtors said pending sales of existing homes fell 1.5 percent in December.

Light, sweet crude oil rose 97 cents to settle at $88.11 a barrel on the New York Mercantile Exchange. Gold prices also climbed.

Oil prices had been gradually declining, so it's possible a slower economy is keeping inflation from accelerating. Still, many market participants are anxious about how much longer the Fed can continue to lower interest rates given relatively high food and energy costs.

The Russell 2000 index of smaller companies rose 10.29, or 1.49 percent, to 702.78.

Advancing issues outnumbered declining shares by nearly 2 to 1 on the New York Stock Exchange, where volume came to 1.74 billion shares.

Overseas, many Asian markets were closed for a holiday, but Japan's stock market was open and its Nikkei average rose 0.82 percent. In Europe, Britain's FTSE 100 fell 2.58 percent, Germany's DAX index fell 1.66 percent, and France's CAC-40 fell 1.92 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed LOWER -64.87 points	-0.53% on Friday February 8

The Dow Jones industrial average ended the week down 561.06, or 4.40 percent, at 12,182.13. The Standard & Poor's 500 index finished down 64.13, or 4.60 percent, at 1,331.29. The Nasdaq composite index ended the week down 108.51, or 4.50 percent, at 2,304.85.

Sym Last........ ........Change..........
Dow	12,182.13	-64.87	-0.53%
Nasdaq	2,304.85	+11.82	+0.52%
S&P 500	1,331.29	-5.62	-0.42%
30-yr Bond	4.4390%	-0.0610

NYSE Volume	3,768,491,000
Nasdaq Volume	2,275,363,250

*Overseas*
Overseas, Japan's Nikkei average closed down 1.44 percent. 

In Europe, Britain's FTSE 100 rose 1.05 percent, Germany's DAX index rose 0.50 percent, and France's CAC-40 fell 0.30 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,784.00	+59.90	+1.05%
DAX	6,767.28	+33.56	+0.50%
CAC 40	4,709.65	-14.15	-0.30%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,017.24	-189.91	-1.44%

http://biz.yahoo.com/ap/080208/wall_street.html
*Stocks End Mixed on Economic Worries*
Friday February 8, 5:41 pm ET
By Madlen Read, AP Business Writer
*Wall Street Closes Mixed, Giving Up Gains As Anxieties About Bond Insurers, Economy Take Over*

NEW YORK (AP) -- Wall Street finished a dismal week with a mixed performance Friday as investors grappled with fears about insurers of distressed mortgage-backed bonds and anxiety about the broader economy.

The Dow Jones industrial average, which rose in earlier trading, fell more than 60 points, while the Nasdaq composite index managed a gain. Both ended the week down more than 4 percent, however, and it was the Dow's worst week, percentage-wise, since March 2003.

The market has been shaken in recent weeks by uncertainty surrounding bond insurers and whether they'll be able to handle huge losses in the value of mortgage-backed bonds. On Thursday, Moody's Investors Service lowered its rating on the bond insurer Security Capital Assurance Ltd. Then at midday Friday, Fitch Ratings, another credit rating agency, put a series of mortgage-backed securities insured by MBIA Inc. on negative watch.

"The bond insurers are really on people's minds," said Kim Caughey, equity research analyst at Fort Pitt Capital Group. "This is a horribly complex issue."

If the ratings agencies downgrade more bonds and bond insurers, the moves could hurt the banks that own the bonds -- and "just drive the credit markets into a downward spiral," Caughey said. "It's things happening further upstream that's making people nervous."

Financial stocks fell due to heavy selling in the corporate bond and leveraged loan markets, and meanwhile, soaring commodities prices hit retailers, said Miller Tabak equity strategist Peter Boockvar.

Crude oil prices jumped $3.66 to $91.77 a barrel on the New York Mercantile Exchange on expectations of disruptions in Nigerian exports.

Retailers, which posted poor sales figures Thursday, have said consumer spending is not only slowing because of problems in the housing market, but also because of high gasoline and food prices. Other businesses in the nation's service sector, which earlier this week reported a contraction in January, have struggled, too, with high commodities costs.

The Dow dropped 64.87, or 0.53 percent, to 12,182.13 -- above its lows of the day, but well off its highs, too. The biggest losers among the 30 Dow companies were financial companies American Express Co. and JPMorgan Chase & Co.

Broader stock indicators were mixed. The Standard & Poor's 500 index fell 5.62, or 0.42 percent, to 1,331.29, while the Nasdaq composite index rose 11.82, or 0.52 percent, to 2,304.85.

The Dow ended the week down 561.06, or 4.40 percent, while the S&P 500 index lost 64.13, or 4.60 percent, and the Nasdaq fell 108.51, or 4.50 percent.

The technology-heavy Nasdaq fared better than the other indexes Friday thanks partly to Amazon.com Inc., which authorized a $1 billion share buyback program. The online retailer rose $2.59, or 3.7 percent, to $73.50.

Government bond prices rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.65 percent from 3.73 percent late Thursday.

SCA plunged 60 cents, or 23 percent, to $2, and MBIA rose 40 cents, or 2.8 percent, to $14.60. Though MBIA's bonds were downgraded by Fitch, the market was pleased because late Thursday it boosted the size of a share offering to $1 billion from $750 million in response to oversubscription by investors.

A motley batch of corporate earnings failed to provide much reassurance to investors. Some companies such as software maker McAfee Inc. and jewelry maker Tiffany & Co. seem to be faring well despite the economic slowdown, but others, including paper and wood product maker Weyerhaueser Co., are struggling.

McAfee posted a better-than-expected fourth-quarter profit late Thursday and rose $2.92, or 9.2 percent, to $34.65. Tiffany rose $1.68, or 4.4 percent, to $39.86 after predicting fiscal 2008 earnings would beat its fiscal 2007 profit forecast, based on an expected 10 percent rise in global sales.

Weyerhaeuser swung to a fourth-quarter loss as the slumping housing market dampened demand for lumber; the company expects the downturn to extend through the year. Weyerhaeuser fell $2.37, or 3.7 percent, to $62.34.

And Alcatel-Lucent reported a $3.8 billion loss in the fourth quarter, eliminated its 2007 dividend, and predicted that 2008 would be a difficult year. Shares of the Franco-American company, which makes telecommunications equipment, fell 25 cents, or 4 percent, to $6.

The mix in corporate success has made it hard to determine how weak the economy is getting.

Data on Friday showing a higher-than-expected rise in U.S. wholesalers' inventories provided Wall Street with little new evidence about the economy's health. An increase can be positive, suggesting that companies are betting on a rise in demand, but it can also serve as a worrisome sign that inventories are building up unintentionally because demand is waning.

The dollar fell against other major currencies, while gold prices rose.

Declining issues outnumbered advancers by about 3 to 2 on the New York Stock Exchange, where consolidated volume came to 3.66 billion shares, down from 4.44 billion Thursday.

The Russell 2000 index of smaller companies fell 3.85, or 0.55 percent, to 698.93.

Overseas, Japan's Nikkei average closed down 1.44 percent. In Europe, Britain's FTSE 100 rose 1.05 percent, Germany's DAX index rose 0.50 percent, and France's CAC-40 fell 0.30 percent.

The Dow Jones industrial average ended the week down 561.06, or 4.40 percent, at 12,182.13. The Standard & Poor's 500 index finished down 64.13, or 4.60 percent, at 1,331.29. The Nasdaq composite index ended the week down 108.51, or 4.50 percent, at 2,304.85.

The Russell 2000 index finished the week down 31.60, or 4.33 percent, at 698.90.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 13,484.95, down 606.14 points, or 4.27 percent, for the week. A year ago, the index was at 14,556.05.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER +57.88 +0.48%  on Monday February 11

Sym Last........ ........Change..........
Dow 12,240.01 +57.88 +0.48% 
Nasdaq 2,320.06 +15.21 +0.66% 
S&P 500 1,339.13 +7.84 +0.59% 
10 Yr Bond(%) 3.6180% -0.0360 

*Overseas*
Overseas, Japan's stock market was closed for a holiday, while in Hong Kong, the Hang Seng index finished down 3.64 percent. Britain's FTSE 100 closed down 1.32 percent, Germany's DAX index fell 0.35 percent, and France's CAC-40 lost 0.57 percent.
*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,707.70 -76.30 -1.32% 
DAX 6,743.54 -23.74 -0.35% 
CAC 40 4,682.70 -26.95 -0.57% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei closed
Hang Seng 22,616.11 -853.35 -3.64% 

http://biz.yahoo.com/ap/080211/wall_street.html
*Stocks Rise in Uneasy Trading*
Monday February 11, 5:22 pm ET 
By Madlen Read, AP Business Writer  
*Wall Street Modestly Higher in Jumpy Trade; Rate-Sensitive Sectors Perform Well *

NEW YORK (AP) -- Wall Street finished higher in an uneasy session Monday as retail and homebuilders stocks rose on expectations for more interest rate cuts, but banks and insurers fell on worries about further mortgage debt troubles.

The Federal Reserve has been in rate-cutting mode this year and it is expected to lower the federal funds rate once more either this month or at its next regularly scheduled meeting March 18. And the cheaper cost of money is beginning to register in the stock market.

"A number of sectors like retail and housing stocks have done better since the Fed acted, and they are leading the market again today," said Steve Goldman, chief market strategist at Weeden & Co. "These stocks are called early bellwethers and they tend to lead a recovery."
But investors continue to grapple with bad news in the credit markets. The stock market fell in early trading and remained volatile even after recovering, with Wall Street clearly concerned by news that American International Group Inc. might have more mortgage debt to write off.

AIG, one of the 30 companies that make up the Dow Jones industrial average, said in a regulatory filing it would need to alter the way it values its credit default swaps involving collateralized debt obligations. Credit default swaps are insurance policies against defaults, and CDOs are funds that contain slices of bonds, some of which are backed by mortgages.

The insurer said auditors found it "had a material weakness in its internal control over financial reporting and oversight" regarding how it valued certain credit default swaps. The filing raised concerns that there will be further losses at AIG, and that other financial companies might reveal similar problems. AIG dropped $5.94, or 11.7 percent, to $44.74.

The Dow rose 57.88, or 0.48 percent, to 12,240.01. Dow Jones & Co. said it was replacing two of the blue chip index's 30 components -- Altria Group Inc. and Honeywell International Inc. -- with Bank of America Corp. and Chevron Corp., effective Feb. 19.

Broader stock indicators ended higher, too. The Standard & Poor's 500 index rose 7.84, or 0.59 percent, to 1,339.13, and the Nasdaq composite index rose 15.21, or 0.66 percent, to 2,320.06.

In addition to rate cut expectations, Hasbro Inc. gave the market a lift, saying its fourth-quarter income soared 24 percent, thanks to a 16 percent increase in sales. Its shares rose 54 cents, or 2 percent, to $26.41.

Meanwhile, Yahoo Inc.'s board rejected a $44.6 billion takeover offer from Microsoft Corp. Yahoo said its board concluded that Microsoft's unsolicited offer "substantially undervalues" the Internet search company. Microsoft, a Dow component, fell 35 cents to 28.21, but Yahoo rose 67 cents, or 2.3 percent, to $29.87.

In other dealmaking news, The Wall Street Journal reported that Motorola Inc. and Nortel Networks are in talks to merge their wireless infrastructure businesses. If a deal happens, it would create a firm with $10 billion in annual sales. Motorola rose 31 cents, or 2.8 percent, to $11.57, and Nortel dipped 18 cents to $10.89.

Bond prices rose Monday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.61 percent from 3.65 percent late Friday.

The dollar was mixed against other major currencies, while gold prices rose.

The Russell 2000 index rose 0.85, or 0.12 percent, to 699.75.

Advancing issues outnumbered decliners by about 8 to 7 on the New York Stock Exchange, where volume 1.39 billion shares.

Light, sweet crude oil rose $1.82 to settle at $93.59 per barrel on the New York Mercantile Exchange.

Last week was the worst week, percentage-wise, for the Dow since March 2003. The blue-chip index fell 4.4 percent, and meanwhile, the S&P's 500 index declined 4.60 percent and the Nasdaq dropped 4.50 percent. The Dow is about 15 percent below its Oct. 9 record close of 14,164.53, and about 4 percent above the 15-month lows it hit in January.

Though Wall Street managed a gain Monday despite AIG's report suggesting possible credit-related losses, many analysts believe there is still bad news yet to come in the credit markets that could have more deleterious effects on the stock market and the broader economy.

"The absolute seizure of the credit markets in the corporate arena is going to put enormous pressure on American companies," said George Feiger, CEO of Contango Capital Advisors, the wealth management arm of Zions Bancorporation. "And this is really bad news for the economy."

Overseas, Japan's stock market was closed for a holiday, while in Hong Kong, the Hang Seng index finished down 3.64 percent. Britain's FTSE 100 closed down 1.32 percent, Germany's DAX index fell 0.35 percent, and France's CAC-40 lost 0.57 percent.

AP Business Writer Leslie Wines contributed to this report.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER +133.40 points +1.09% on Tuesday February 12

Sym Last........ ........Change..........
Dow 12,373.41 +133.40 +1.09% 
Nasdaq 2,320.04 -0.02 -0.00% 
S&P 500 1,348.86 +9.73 +0.73% 
10 Yr Bond(%) 3.6790% +0.0610 

*Overseas*
Japan's Nikkei stock average inched up 0.04 percent and Hong Kong's Hang Seng index advanced 1.35 percent. 

Britain's FTSE 100 rose 3.54 percent and Germany's DAX index rose 3.33 percent. France's CAC-40 closed up 3.37 percent.
*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,910.00 +202.30 +3.54% 
DAX 6,967.84 +224.30 +3.33% 
CAC 40 4,840.71 +158.01 +3.37%  

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,021.96 +4.72 +0.04% 
Hang Seng 22,921.67 +305.56 1.35% 

http://biz.yahoo.com/ap/080212/wall_street.html
*Wall Street Rallies on Buffett News*
Tuesday February 12, 5:42 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks Rise After Buffett Offer of Aid to Bond Insurers Eases Some Credit Concerns *

NEW YORK (AP) -- Wall Street finished mostly higher Tuesday after billionaire investor Warren Buffett offered to help out troubled bond insurers, easing some of the market's concerns about further deterioration in the credit markets. The Dow Jones industrials rose more than 130 points 

In an interview on CNBC, Buffett said his Berkshire Hathaway Inc. holding company has offered a second level of insurance on up to $800 billion in municipal bonds. The reinsurance offer is for bond insurers Ambac Financial Group Inc., MBIA Inc. and Financial Guaranty Insurance Co., known as FGIC.

Word of the offer gave some investors relief although Buffett said a deal would only back municipal bonds, and not the risky and complicated financial instruments that many see as more likely to have problems. Still, further assurances on the soundness of municipal bonds could help shore up Wall Street's confidence and reinforce the differences in quality among various levels of debt.

Russell Croft, portfolio manager at Croft Leominster Investment Management in Baltimore, said Buffett's move gives the market a bit of needed confidence.

"It's a good thing to see," he said. He also agreed with Buffett's assessment that stocks are mostly fairly valued. "We could definitely test some more lows going forward but there was a pretty good drop-off there again and I think people are trying to take advantage of it to get some quality stocks at cheaper prices."

The Dow rose 133.40, or 1.09 percent, to 12,373.41. The blue chip index was up more than 200 points earlier in the session. The Standard & Poor's 500 index advanced 9.73, or 0.73 percent, to 1,348.86.

However, the Nasdaq composite index edged down 0.02, or less than 0.01 percent, to 2,320.04.

Tech stocks fell in the last hour of trading amid uncertainty about Microsoft Corp.'s bid to acquire Yahoo Inc. -- an overture that could eventually go hostile. In addition, Research In Motion Ltd. fell after its Blackberry e-mail system had an outage.

Bond prices fell Tuesday after Buffett's announcement. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.67 percent from 3.63 percent late Monday.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude fell 81 cents to settle at $92.78 a barrel on the New York Mercantile Exchange.

Buffett's overture to the big bond insurers reassured investors. Buffett said one firm rejected his offer and he is still waiting to hear from the other two.

Bond insurers write policies that promise to cover payments to bondholders if the entity that issued the bonds defaults. Reinsurance provides a second level of insurance on those bonds.

But some analysts were cautious.

Investors should be careful not to read too much into the market's advance, said Len Blum, managing director of Westwood Capital. He noted that recent readings on U.S. retail spending show that Americans are hurting financially.

"Stock markets will have good days in bear markets," he said, adding that he believes more problems will be uncovered in the financial sector. "We haven't seen all the losses. Even if you have some investors willing to bottom fish, or very sophisticated investors like Warren Buffet willing to invest at this point, the financial sector is still really sick."

Investors also appeared pleased Tuesday by a government plan called Project Lifeline involving the six largest mortgage lenders to help at-risk borrowers with all types of mortgages retain their homes.

And adding to investors' upbeat mood, Credit Suisse Group sharply reduced its estimate of how much exposure it has to subprime mortgage debt. Switzerland's second largest bank said its debt tied to subprime mortgages, those given to borrowers with poor credit, fell to 1.6 billion francs ($1.45 billion) from 3.9 billion francs at the end of September. Its fourth-quarter net profit fell 72 percent because of write-downs. The company's U.S.-traded shares rose $1.11 to $51.94.

General Motors Corp. fell 52 cents to $26.60 after announcing a fresh round of buyouts to all 74,000 of its U.S. hourly workers represented by the United Auto Workers. The company also reported losses of $38.7 billion in 2007, the largest annual loss for an automotive company.

Yahoo fell 30 cents to $29.57 after the search engine's board rejected Microsoft's $44.6 billion bid. That raised speculation that Microsoft -- whose shares rose 13 cents to $28.34 -- might take its offer directly to shareholders.

Meanwhile, Research In Motion shares fell $2.97, or 3.1 percent, to $91.50 after the company acknowledged that its network service was widely disrupted Monday.

Advancing issues outnumbered decliners by 3 to 2 on the New York Stock Exchange, where consolidated volume came to 3.92 billion shares from 3.51 billion.

The Russell 2000 index of smaller companies rose 5.73, or 0.82 percent, to 705.48.

Overseas, Japan's Nikkei stock average inched up 0.04 percent and Hong Kong's Hang Seng index advanced 1.35 percent. Britain's FTSE 100 rose 3.54 percent and Germany's DAX index rose 3.33 percent. France's CAC-40 closed up 3.37 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER +178.83 points +1.45% on Wednesday February 13

Sym Last........ ........Change..........
Dow 12,552.24 +178.83 +1.45% 
Nasdaq 2,373.93 +53.89 +2.32% 
S&P 500 1,367.21 +18.35 +1.36% 
10 Yr Bond(%) 3.6940% +0.0150 


*Overseas*
Japan's Nikkei stock average closed up 0.16 percent. 

Britain's FTSE 100 fell 0.51 percent, Germany's DAX index rose 0.08 percent, and France's CAC-40 rose 0.30 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,880.10 -29.90 -0.51% 
DAX 6,973.67 +5.83 +0.08% 
CAC 40 4,855.40 +14.69 +0.30% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,068.30 +46.34 +0.36% 
Hang Seng 23,169.55 +247.88 +1.08% 

http://biz.yahoo.com/ap/080213/wall_street.html
*Stocks End Higher on Upbeat Retail Sales*
Wednesday February 13, 4:54 pm ET 
By Joe Bel Bruno, AP Business Writer  
*Wall Street Extends Advance After Slight Increase in January Retail Sales Figures *

NEW YORK (AP) -- Wall Street moved sharply higher Wednesday after the Commerce Department reported an unexpected increase in retail sales last month and eased some concerns about consumers' willingness to spend despite economic uncertainty. The Dow Jones industrials rose nearly 180 points.

The 0.3 percent rise in January retail sales, which followed a drop during December, alleviated some of the market's worries that consumers were retrenching because of rising fuel prices, a faltering real estate sector and a choppy stock market. Analysts had expected a 0.3 percent decline in January sales.

However, another report from the department showed that U.S. business inventories grew a little more than expected in December. The data could be a sign of an involuntary buildup of unsold goods on store shelves amid the economic slowdown.

The inventories report was not enough to offset optimism during the session. Stocks have mostly risen in recent days as investors tried to determine whether Wall Street has reached a bottom after months of declines related to the housing and credit crisis, or whether further sluggishness in the economy will send stocks lower.

"So far this week there has been a positive bias, but I think what you're seeing is people taking a very cautious approach," said Scott Fullman, director of investment strategy at I.A. Englander & Co. "There is no great rush to jump in, and the preservation of capital is more important than growth at this moment."

He also said investors were encouraged by the government's latest plan to help homeowners falling behind on mortgage payments. U.S. Treasury Secretary Henry Paulson said Wednesday he believes the economy will remain on a growth path, and pledged "aggressive action" to help troubled homeowners.

The Dow rose 178.83, or 1.45 percent, to 12,552.24. The blue chip index finished at its highs of the session.

Broader indexes also moved higher. The Standard & Poor's 500 index added 18.35, or 1.36 percent, to 1,367.21, and the Nasdaq composite rose 53.89, or 2.32 percent, to 2,373.93.

Bond prices dipped, with the yield on the benchmark 10-year Treasury note, which moves opposite its price, at 3.70 percent from 3.66 percent on Tuesday. The dollar was mixed against other major currencies.

Light, sweet crude oil rose 49 cents to settle at $93.27 on the New York Mercantile Exchange. The International Energy Agency cut its oil demand forecasts for this year due to the weakening U.S. economy.

Analysts said the market will likely be choppy as investors react to economic data through the next several weeks. Most important will be any reports that provides clues about the slumping housing market.

Michael Strauss, chief economist at CommonFund, said he'll be listening Thursday to see if Federal Reserve Chairman Ben Bernanke makes any projections about the housing market. Bernanke is scheduled to provide testimony before a Senate committee on banking and housing at 10 a.m. EST.

"I think Bernanke will be grilled more on housing, and one of the things he'll focus on is that the housing sector has had a much bigger impact on the economy than the Fed anticipated it would have," Strauss said. "The question is whether he dangles a carrot, and maybe even praises Congress, about the fiscal stimulus package."

President Bush on Wednesday signed a multibillion-dollar economic rescue package that means $300 to $1,200 rebates for many American households.

In corporate news, Coca-Cola Co. said its fourth-quarter earnings jumped 79 percent amid a 24 percent increase in revenue. The world's biggest beverage producer cited growth in its key soft-drink brands as well as in its water, sports drink and orange juice businesses. But Coke fell 53 cents to $59.39.

Applied Materials, the largest maker of semiconductor equipment, led technology stocks higher after it reported a surge in orders for machines that make flat screens. Shares of the company rose $1.84, or 10.2 percent, to $19.91.

Deere & Co. said fiscal first-quarter profit increased 54 percent as the heavy equipment maker posted strong international sales. However, shares fell 94 cents to $85.54.

Waste Management Inc. rose 91 cents to $34.04 after reporting its fourth-quarter earnings increased 26 percent. The nation's largest garbage hauler got a bounce from tax benefits and the sale of some operations. However, fuel prices ate into profits.

Also, the state oil company of Venezuela said it has halted sales of crude to Exxon Mobil Corp. in response to the U.S. company's drive to use the courts to seize billions of dollars in Venezuelan assets. The oil company rose $1.11 cents to $85.49.

The Russell 2000 index of smaller companies rose 16.45, or 2.33 percent, to 721.93.

Advancing issues led decliners by a 2 to 1 margin on the New York Stock Exchange, where volume came to 1.41 billion shares, up from 1.36 billion shares on Tuesday.

Overseas, Japan's Nikkei stock average closed up 0.16 percent. Britain's FTSE 100 fell 0.51 percent, Germany's DAX index rose 0.08 percent, and France's CAC-40 rose 0.30 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed LOWER -175.26 points -1.40% on Thursday February 14

Sym Last........ ........Change..........
Dow 12,376.98 -175.26 -1.40% 
Nasdaq 2,332.54 -41.39 -1.74% 
S&P 500 1,348.86 -18.35 -1.34% 
10 Yr Bond(%) 3.8180% +0.1240 

*Overseas*
Japan's Nikkei stock average jumped 4.27 percent -- its biggest advance in nearly six years -- following strong economic growth figures and sizable gains on Wall Street on Wednesday. 

Britain's FTSE 100 fell 0.01 percent, Germany's DAX index fell 0.16 percent, and France's CAC-40 rose 0.07 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,879.30 -0.80 -0.01% 
DAX 6,962.28 -11.39 -0.16% 
CAC 40 4,858.65 +3.25 +0.07% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,626.45 +558.15 +4.27% 
Hang Seng 24,021.68 +852.13 +3.68% 

http://biz.yahoo.com/ap/080214/wall_street.html
*Stocks End Lower After Bernanke Comments*
Thursday February 14, 5:46 pm ET 
By Madlen Read, AP Business Writer  
*Stocks Fall As Bernanke Predicts 'Sluggish' Economic Growth Before Late-Year Strengthening *


NEW YORK (AP) -- Wall Street retreated Thursday after Federal Reserve Chairman Ben Bernanke predicted a "sluggish" economy until later in the year and more mortgage-related losses at banks. The Dow Jones industrial average fell 175 points.

Though the Fed chairman's comments suggested the central bank is still open to further interest rate reductions, the tone was, as expected, somber. Bernanke said the housing and credit crises have weighed on the economy and curbed hiring. If the job market deteriorates, consumer spending, which is crucial for economic growth, will keep dwindling.

The Labor Department said Thursday the number of workers filing unemployment claims fell 9,000 to 348,000 last week. But after the January jobs report that showed the first net jobs loss in more than four years, Wall Street remains worried that businesses are becoming cautious about hiring and that unemployment will compound the debt problems that have been slamming the markets and the greater economy.

After three strong days on Wall Street, investors found scant encouragement in Bernanke's testimony and cashed in their gains.

"He was more bearish on the economy than he was before," said Arthur Hogan, chief market analyst at Jefferies & Co. After this week's better-than-expected report on January retail sales, investors found Bernanke's assessment of the economy particularly disheartening.

"To have the Fed come in and talk about how things could be getting worse, not better, kind of takes the wind out of their sails," Hogan said.

The Dow fell 175.26, or 1.40 percent, to 12,376.98, after gaining 370 points, total, in the previous three sessions.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 18.35, or 1.34 percent, to 1,348.86, and the Nasdaq composite index fell 41.39, or 1.74 percent, to 2,332.54.

Government bond prices dropped, pushing up the yield on the benchmark 10-year Treasury note, which moves opposite its price, to 3.82 percent from 3.73 percent late Wednesday.

Bond investors were focusing on Thursday's upbeat jobless claims data, as well as Bernanke's indication that the Fed may be nearing the end of its rate-cutting campaign if it expects the economy to regain momentum later in the year, said Joe Balestrino, a portfolio manager at Federated Investors Inc.

The central bank has been lowering key interest rates since September, and it usually takes six to nine months before rate moves affect the economy.

Banks fell on Bernanke's testimony, and on a huge loss at the Switzerland-based bank UBS AG. UBS reported a fourth-quarter net loss of $11.28 billion due to investments in U.S. subprime mortgages. The bank, which posted its first full-year loss in a decade, said it expected more debt problems in 2008. Its U.S.-traded shares fell $3.05, or 8.3 percent, to $33.94.

Wall Street's decline also reflected its underlying concerns about bond insurers, which are in danger of losing their superior ratings because of bad mortgage debt.

Late Wednesday, MBIA Inc. raised $1.1 billion from the sale of a nearly 40 percent stake in the company. Shares of the bond insurer rose 98 cents, or 8.4 percent, to $12.62.

MBIA told Congress Thursday it has enough cash to survive the distress in the industry, and that it needs neither a bailout nor tighter federal regulation. But lawmakers say action is necessary. New York regulators are working with banks and bond insurers on a plan to raise insurers' cash levels.

Moody's Investors Service downgraded another bond insurer, Financial Guaranty Insurance Co., to a financial strength rating of "A3" instead of "AAA." The ratings agency said it believes the larger bond insurers MBIA and Ambac are "better positioned from a capitalization and business franchise perspective," but that it is still reviewing its ratings on the two companies.

The dollar was mixed against other major currencies.

The weak dollar is, somewhat counterintuitively, helping to prop up the economy right now because U.S. goods are cheap for foreign buyers. The government reported Thursday that the nation's trade deficit, which had ballooned to record levels for five straight years, finally narrowed in 2007. In December, the deficit dropped 6.9 percent to $58.8 billion, thanks largely to strong increases in U.S. exports.

High oil prices, however, are keeping the deficit from narrowing further. On Thursday, light, sweet crude oil rose $2.19 to $95.46 per barrel on the New York Mercantile Exchange.

Gold prices fell.

Declining issues outnumbered advancers by nearly 4 to 1 on the New York Stock Exchange. Consolidated volume came to 3.49 billion shares, down from 3.64 billion shares Wednesday.

The Russell 2000 index of smaller companies fell 16.61, or 2.30 percent, to 705.32.

Overseas, Japan's Nikkei stock average jumped 4.27 percent -- its biggest advance in nearly six years -- following strong economic growth figures and sizable gains on Wall Street on Wednesday. Britain's FTSE 100 fell 0.01 percent, Germany's DAX index fell 0.16 percent, and France's CAC-40 rose 0.07 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

According to preliminary calculations, the Dow Jones industrial average fell 28.77, or 0.23 percent, to 12,348.21. The blue-chip index ended the week with a gain of 1.36 percent.[/U]

The Standard & Poor's 500 index edged up 1.13, or 0.08 percent, to 1,349.99 to finish the week with a 1.40 percent gain. 

The technology-heavy Nasdaq composite index fell 10.74, or 0.46 percent, to 2,321.80 to close the week with an advance of 0.74 percent.

The NYSE DOW closed LOWER -28.77 points	-0.23% on Friday February 15
Sym Last........ ........Change..........
Dow	12,348.21	-28.77	-0.23%
Nasdaq	2,321.80	-10.74	-0.46%
S&P 500	1,349.99	+1.13	+0.08%
30-yr Bond	4.5950%	-0.0580

NYSE Volume	3,566,691,750
Nasdaq Volume	2,047,467,500

*Overseas*
Japan's Nikkei stock average finished down 0.03 percent. 

Britain's FTSE 100 closed down 1.56 percent, Germany's DAX index fell 1.87 percent, and France's CAC-40 fell 1.79 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,787.60	-91.70	-1.56%
DAX	6,832.43	-129.85	-1.87%
CAC 40	4,771.79	-86.86	-1.79%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,622.56	-3.89	-0.03%
Hang Seng	24,148.43	+126.75	+0.53%

http://biz.yahoo.com/ap/080215/wall_street.html
*Stocks Finish Mixed After Weak Data*
Friday February 15, 4:49 pm ET
By Tim Paradis, AP Business Writer
*Stocks End Mixed As Downbeat Economic Readings Provide Little to Dislodge Wall Street's Fears*

NEW YORK (AP) -- Stocks finished mixed as lackluster economic reports offered Wall Street little incentive to place big bets ahead of a long weekend.

Disappointing data on manufacturing, consumer confidence and import prices reminded investors on Friday that the economy is struggling. As a result, a week that began with a rally closed on a subdued note.

A New York Federal Reserve survey on regional manufacturing indicated that conditions have deteriorated this month, while the preliminary Reuters/University of Michigan survey on consumer sentiment for February showed a marked decline from the prior month. A Labor Department's report found that import prices have jumped amid higher oil prices.

Friday's market declines, while not severe, occurred a day after investors' revealed their skittishness about the economy and sent stocks down more than 1 percent. The pullback, which came after strong gains earlier in the week, followed somewhat downcast remarks about the economy from Federal Reserve Chairman Ben Bernanke.

With stock markets closed Monday for the President's Day holiday and fresh economic concerns, investors appeared uninterested in making any sizable moves.

"The fear factor still sits in the minds of investors," said Bill Schultz, chief investment officer at McQueen, Ball & Associates in Bethlehem, Pa. "We just can't get over that hurdle."

According to preliminary calculations, the Dow Jones industrial average fell 28.77, or 0.23 percent, to 12,348.21. The blue-chip index ended the week with a gain of 1.36 percent.

Broader stock indicators were mixed. The Standard & Poor's 500 index edged up 1.13, or 0.08 percent, to 1,349.99 to finish the week with a 1.40 percent gain. The technology-heavy Nasdaq composite index fell 10.74, or 0.46 percent, to 2,321.80 to close the week with an advance of 0.74 percent.

Government bond prices rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.76 percent from 3.82 percent late Thursday. The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude oil edged up 4 cents to settle at $95.50 a barrel on the New York Mercantile Exchange.

Not all economic findings that arrived Friday portended further weakness but over all, investors seemed unimpressed. The nation's central bank said that industrial output showed a modest increase last month, as expected, largely because of strength from utilities.

But investors remain worried that consumers who are uneasy will be reluctant to open their wallets -- an alarming prospect as consumer spending accounts for more than two-thirds of economic activity.

Comments from Bernanke on Thursday outlined the concerns. The Fed chief issued a sobering but not entirely unexpected prediction that economic growth in much of 2008 is likely to be "sluggish" before gathering strength later in the year. He told the Senate Banking Committee that further losses were likely at banks from soured mortgages.

"What's dominating the market lately is the bad economic data that continues to confirm that the economy is slowing," said Alexander Paris, economist and market analyst for Chicago-based Barrington Research. Though he said we are not necessarily in a recession, more and more economists are coming to that conclusion.

Schultz of McQueen, Ball & Associates predicted that volatility will remain on Wall Street as investors try to sort through their concerns about the financial sector.

The uncertainty lapping at Wall Street is in part due to the opaque nature of subprime mortgage debt. Many of these loans, which are now going bad, were sold off in exotic debt packages whose worth is difficult to determine. The concerns about faltering debt have stoked worries about the solvency of bond insurers and sent some borrowing costs higher, disturbing normally staid parts of the financial sector that help pedal the economy.

In corporate news, Priceline.com Inc. said its fourth-quarter earnings more than doubled amid a 62 percent increase in gross travel bookings. The online travel company jumped $21.83, or 21 percent, to $124.06.

Declining issues outnumbered advancers by about 9 to 7 on the New York Stock Exchange, where volume came to 1.50 billion shares.

The Russell 2000 index of smaller companies fell 3.80, or 0.54 percent, to 698.48.

Overseas, Japan's Nikkei stock average finished down 0.03 percent. Britain's FTSE 100 closed down 1.56 percent, Germany's DAX index fell 1.87 percent, and France's CAC-40 fell 1.79 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE WAS CLOSED on Monday February 18

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,946.60 +159.00 +2.75% 
DAX 6,967.55 +135.12 +1.98% 
CAC 40 4,861.80 +90.01 +1.89% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,635.40 +12.84 +0.09% 
Hang Seng 23,759.25 -389.18 -1.61% 

http://biz.yahoo.com/ap/080218/world_markets.html
World Markets Mixed on Presidents Day
Monday February 18, 12:41 pm ET  
European Stocks Rise, Asian Markets Mixed on US Public Holiday 


LONDON (AP) -- European stocks rocks rose Monday on speculation about possible new investment in the banking sector even as U.S. markets remain closed on Presidents Day, a public holiday. Asian markets were mixed.

The U.K.'s benchmark FTSE 100 rose 2.75 percent to 5,946.6, while Germany's Dax Index gained 1.98 percent to 6,967.55. In France, the CAC 40 advanced 1.89 percent to 4,861.80.

"It seems to be a combination of factors," said Keith Bowman, a broker at Hargreaves Lansdown Stockbrokers Ltd. "There was press speculation over the weekend that banks reporting this week may raise their dividends and possibly sovereign investment funds will increase their investments."

In Asia, Japanese stocks inched higher and Hong Kong shares sank amid concerns about further tightening measures in mainland China.

Australian shares also fell, led by Australia and New Zealand Banking Group after the lender said it expects earnings this fiscal year to be crimped by fallout from the global credit crunch.

But Chinese stocks jumped after the securities regulator granted approval of two new equity funds and the wealth management operations of nine mutual funds.

In Tokyo, the benchmark Nikkei 225 index rose 12.84 points, or 0.09 percent, to 13,635.40 as traders bought steel issues in the hope that rising demand in emerging markets will offset higher prices. Nippon Steel rose 3.2 percent and JFE Holdings added 6.3 percent.

Toshiba Corp. jumped 5.7 percent on reports it may withdraw from its struggling HD DVD business. Investors cheered the likely decision as lessening the potential for losses. Rival Sony, which supports Blu-ray disc technology, rose 1 percent.

Market observers say that it may take a while for the Nikkei to resume a stable upward trend even though current levels are higher than the January lows.

"What seems to be a recovery is merely a technical rebound," said Seiichiro Iwasawa, chief strategist at Nomura Securities. "Remember that the Nikkei has rebounded a few times since a huge dip in August last year, and this is like one of them."

Hong Kong's blue-chip Hang Seng Index dropped 1.61 percent to 23,759.25 points. It had gained 6.8 percent over the previous four sessions.

Analysts said traders were cautious due to continued concerns about the American economy. The Dow Jones industrial average slid 0.23 percent Friday.

"Most investors are taking a wait-and-see stance, given the sluggish trading volume," said Castor Pang, a strategist at Sun Hung Kai Financial.

The market expects the Federal Reserve to cut interest rates again at its next meeting in March. Hong Kong banks tend to follow U.S. interest rate cuts because the Hong Kong dollar is pegged to its U.S. counterpart.

Li Ka-shing's property flagship, Cheung Kong, fell 1 percent after gaining 8 percent in the past four sessions.

Investors were turning their focus to China, which was expected to release January consumer price data Tuesday. Analysts expect prices have risen 7 percent, which would be an 11-year high. They are worried that signs of surging inflation will trigger another round of tightening measures by Beijing.

But on the Chinese mainland, investors were enthused by a report Monday from the state-run China Securities Journal that nine domestic mutual fund companies have received regulatory approvals to begin wealth management operations.

"More money will mean prices of stocks will be pushed up, and some investors are buying ahead of the wave," said Huatai Securities analyst Zhou Lin.

The benchmark Shanghai Composite Index gained 1.58 percent to 4,568.15. China Daqin Railway rose 4.7 percent and Poly Real Estate Group gained 3.5 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed LOWER -10.99 points -0.09% on Tuesday February 19
Sym Last........ ........Change..........
Dow 12,337.22 -10.99 -0.09% 
Nasdaq 2,306.20 -15.60 -0.67% 
S&P 500 1,348.78 -1.21 -0.09% 
10 Yr Bond(%) 3.88% +0.10 

*Overseas*
Japan's Nikkei stock average gained 0.90 percent. 

Britain's FTSE 100 advanced 0.34 percent, Germany's DAX index added 0.50 percent, and France's CAC-40 increased 0.49 percent.


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,966.90 +20.30 +0.34% 
DAX 7,002.29 +34.74 +0.50% 
CAC 40 4,885.83 +24.03 +0.49%  

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,757.91 +122.51 +0.90% 
Hang Seng 24,123.17 +363.92 +1.53% 

http://biz.yahoo.com/ap/080219/wall_street.html
*Stocks End Mixed Amid Inflation Fears*
Tuesday February 19, 6:00 pm ET 
By Madlen Read, AP Business Writer  
*Wall Street Pares Gains As Oil Surges, Banks See More Credit Problems *

NEW YORK (AP) -- Wall Street gave up a big early advance and closed mixed Tuesday after oil prices closed above $100 for the first time and stoked fears that inflation will stymie an already troubled economy. 

Soaring oil prices could bring more problems for consumers, having already made many Americans shy about spending in recent months. Consumer spending, a key driver of U.S. economic growth, has also been shaken by falling home prices and the volatile stock market.

The market was also concerned that rising inflation might make the Federal Reserve reconsider its bias toward lowering interest rates to help the economy. The central bank, which next meets March 18, last month slashed rates by 1.25 percent.
"I think there are still a lot of worries in the market that we have this stagnant growth in the economy and higher prices," said Richard Sparks, senior equities analyst at Schaeffer's Investment Research in Cincinnati.

Investors likely were positioning themselves ahead of a half-dozen economic reports that could give the market further direction. Paramount will be Wednesday's Labor Department report on consumer prices for January, which is a closely watched gauge for inflation. The Fed will also release minutes from its last meeting.

Meanwhile, new concerns that banks are facing more financial problems this year dragged the sector sharply lower -- and reminded investors that the credit crisis appears far from a resolution.

The Dow Jones industrial average fell 10.99, or 0.09 percent, to 12,337.22 after being up more than 150 points earlier in the session.

Broader indexes also moved lower. The Standard & Poor's 500 index fell 1.21, or 0.09 percent, to 1,348.78; and the Nasdaq composite fell 15.60, or 0.67, 2,306.20.

But advancing issues were ahead of decliners on the New York Stock Exchange by about 9 to 7, while on the Nasdaq Stock Market, decliners had a modest lead. Consolidated volume on the NYSE came to about 3.50 billion shares, compared to 3.36 billion on Friday.

Government bonds dipped as stocks gained. The yield on the 10-year Treasury note, which moves opposite its price, jumped to 3.87 percent from 3.77 percent late Friday. It rose to 3.90 percent in after-hours trading.

The dollar was mixed against most major currencies.

Light, sweet crude for March delivery rose $4.51 to settle at a record $100.01 a barrel on the New York Mercantile Exchange after earlier rising to $100.10, a new trading record. It was the first time since Jan. 3 that oil had been above $100.

Other commodities, including gold and soybeans, rose as well. At the pump, gas prices rose further above $3 a gallon.

Beyond inflation, investors also continued to worry about the financial sector. So far, global banks have written down more than $150 billion from bad bets on mortgage-backed securities -- and more losses are expected to the first quarter.

British bank Barclays Group PLC revealed credit-related losses totaling $3.13 billion, up from a smaller write-down in November, while Credit Suisse, Switzerland's second-largest bank, said it has suspended "a handful" of traders in connection with the overvaluation of asset-backed securities by $2.85 billion.

Also, The Wall Street Journal reported that Lehman Brothers Holdings Inc. could see big losses due to its significant investments in commercial real estate loans. Lehman fell $1.35, or 1.3 percent, to $53.42.

"Can these financial stocks get to the bottom of their questions of soundness in asset quality? We have to reach a tipping point here," said Richard Cripps, chief market strategist for Stifel Nicolaus. "That's the part that I think has to occur for this market to have a sustained advance."

There have been some signs that troubled financial institutions are finding ways to regain their footing, however.

Bond insurer Ambac Financial Group Inc. is discussing a plan to raise at least $2 billion in capital to maintain its superior credit rating, the Journal reported, citing people familiar with the matter. The move would mirror a $3 billion cash-raising effort by rival bond insurer MBIA Inc., which said Tuesday that its former chairman and chief executive has returned to the lead the company.

Ambac fell 19 cents to $10.03, though, after a Goldman Sachs Group Inc. analyst cut his price target for the insurer to $7 from $10 and said the company will probably to need to raise about $3.5 billion to maintain its "AAA" rating. MBIA slipped 41 cents to $11.83.

In economic news, the National Association of Home Builders said its index measuring homebuilder confidence inched up in February. Wall Street remains wary about the prospects for the housing market, however.

The Russell 2000 index of smaller companies rose 0.82, or 0.12 percent, to 702.34.

Overseas, Japan's Nikkei stock average gained 0.90 percent. Britain's FTSE 100 advanced 0.34 percent, Germany's DAX index added 0.50 percent, and France's CAC-40 increased 0.49 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER +90.04 +0.73% on Wednesday February 20
Sym Last........ ........Change..........
Dow 12,427.26 +90.04 +0.73% 
Nasdaq 2,327.10 +20.90 +0.91% 
S&P 500 1,360.03 +11.25 +0.83% 
10 Yr Bond(%) 3.92% +0.04 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,893.60 -73.30 -1.23% 
DAX 6,899.68 -102.61 -1.47% 
CAC 40 4,812.81 -73.02 -1.49% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,310.37 -447.54 -3.25% 
Hang Seng 23,590.58 -532.59 -2.21% 

http://biz.yahoo.com/ap/080220/wall_street.html
*Stocks Finish Higher After Pullback*
Wednesday February 20, 4:25 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks Rise As Investors Dismiss Some Concern About Inflation; Oil Settles at Fresh Record *

NEW YORK (AP) -- Stocks came off early losses to finish higher Wednesday as investors appeared to take in unpleasant signals about the economy with unusual equanimity and draw comfort from the notion that the Federal Reserve didn't appear overly concerned about inflation.

A rebound in hard-hit stocks of financial companies helped fuel the session's turnaround, while an upbeat forecast from Hewlett Packard Co. pulled technology issues higher and record prices for oil gave a boost to energy stocks.

Stocks began the day lower amid concern about a rise in consumer prices and lackluster readings on home construction. But observers said the economic figures ultimately didn't prove all that surprising given a recent run-up in oil prices and the well-documented woes of the housing sector.

Investors had already begun to check some of their concerns when minutes from the Fed's meetings last month indicated the central bank didn't appear to have sizable unease about inflation. The apparent lack of urgent concern that lower interest rates would foment a rise in prices was perhaps welcome given the latest readings on consumer prices and the rise in oil.

The absence of surprises from the Fed minutes underscored the notion that policyamkers will first address the flagging economy and worry later about inflation and allowed investors to perhaps snap up some bargains and focus on upbeat news.

Thomas J. Lee, equities analyst at JPMorgan said the Fed's deliberations indicate the central bank could quickly step in to address inflation should that become necessary but that shoring up the economy would remain its immediate concern.

"It's a very different Fed. It's not a Greenspan Fed. Gradualism is out," Lee said.

According to preliminary calculations, the Dow rose 90.04, or 0.73 percent, to 12,427.26.

Broader stock indicators also moved higher. The Standard & Poor's 500 index advanced 11.25, or 0.83 percent, to 1,360.03, and the Nasdaq composite index rose 20.90, or 0.91 percent, to 2,327.10.

Lee said investors were also pleased by some solid corporate news.

"The earnings picture has actually been pretty good," Lee said. "HP had a solid beat, and pretty decent guidance."

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed LOWER -94.11	-0.76% on Thursday February 21
Sym Last........ ........Change..........
Dow	12,333.15	-94.11	-0.76%
Nasdaq	2,316.57	-10.53	-0.45%
S&P 500	1,350.90	-9.13	-0.67%
30-yr Bond	4.5180%	-0.1260

NYSE Volume	3,696,662,000
Nasdaq Volume	2,285,947,750

*Overseas,* 
Japan's Nikkei stock average closed up 2.84 percent. Britain's FTSE 100 added 0.65 percent, Germany's DAX index rose 0.07 percent, and France's CAC-40 rose 0.96 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,932.20	+38.60	+0.65%
DAX	6,904.85	+5.17	+0.07%
CAC 40	4,858.85	+46.04	+0.96%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,688.28	0.00	 +2.84%
Hang Seng	23,623.00	+32.42	+0.14%

http://biz.yahoo.com/ap/080221/wall_street.html
*Stocks Fall Amid Weak Economic Data*
Thursday February 21, 5:41 pm ET
By Joe Bel Bruno, AP Business Writer
*Wall Street Falls After Weak Economic Data Sparks Concern About Recession*

NEW YORK (AP) -- The stock market finished with a sharp loss Thursday after bleak readings on the economy heightened investors' fears of recession. The Dow Jones industrial average fell more than 140 points.

Wall Street was disappointed when the Philadelphia Federal Reserve reported that regional manufacturing fell more than predicted. Another piece of bad news was the Conference Board's January index of leading economic indicators, which posted its fourth straight drop.

Investors have already been pricing in another interest rate cut -- perhaps up to half a percentage point -- after minutes from the Federal Reserve's last policy-setting meeting indicated central bankers will remain vigilant about the economy. The Fed, which meets again March 18, has forecast slower growth and continued risks to the economy from housing and credit markets.

Though investors been assured by the central bank that it will lower rates again if necessary, that expectation has not been enough to galvanize their confidence in the stock market and the economy. Wall Street remains concerned that the economy could be so weak that rate cuts, which take months to work their way through the economy, won't prevent further deterioration.

"The Fed cutting rates is a little bit like a fire engine pulling up to your house," said Brian Gendreau, investment strategist for ING Investment Management. "You're happy help has arrived, but still, your house is burning down."

The Dow fell 142.96, or 1.15 percent, to 12,284.30.

The biggest loser among the 30 Dow components was General Motors Corp. after lender GMAC LLC, which is part-owned by GM, said it will slash hundreds of jobs at its auto finance business. GM fell $1.24, or 4.9 percent, to $24.30.

Broader indexes also declined. The Standard & Poor's 500 index shed 17.50, or 1.29 percent, to 1,342.53, while the Nasdaq composite index fell 27.32, or 1.17 percent, to 2,299.78.

"What you're seeing is a tug of war out there," said Arthur Hogan, chief market analyst at Jefferies & Co. "There are those that believe we're in a recession and earnings will move lower, and others that feel we're working on a bottom. That can change the direction of stocks minute-by-minute."

Bond prices moved sharply higher on expectations of a rate reduction. The yield on the 10-year Treasury note, which moves opposite its price, fell to 3.78 percent from 3.89 percent late Wednesday.

Light, sweet crude for April delivery dropped $1.47 to settle at $98.23 a barrel on the New York Mercantile Exchange, after the government reported that U.S. crude oil inventories increased by more than expected last week. Crude had reached a new record above $101 in overnight trading.

Gold jumped to a record high above $950 an ounce on Thursday, while the dollar dipped slightly against most major currencies.

In corporate news, there was further evidence that the global credit crisis is far from over. French bank Societe Generale SA said a trading scandal and write-downs linked to the crisis led to a loss in the fourth quarter. The bank lost $4.91 billion, compared with a $1.73 billion profit during the same period of 2006.

MBIA Inc. fell 28 cents, or 2.3 percent, to $11.90 after activist shareholder William Ackman's late Wednesday opposed a plan that struggling bond insurers be split into two companies. The company said Ackman, a hedge fund manager, stood to benefit from negative bets on the stock.

Many companies outside the financial sector are showing resilience. BlackBerry maker Research In Motion Ltd. raised its outlook for fourth-quarter subscriber additions by about 15 percent to 20 percent, citing the popularity of smartphones in the holiday selling season. The stock surged $8.78, or 9 percent, to $106.69.

But there is a great deal of uncertainty about U.S. consumers -- the main drivers of the economy.

Safeway Inc. posted a slight decline in fourth-quarter profit that was in line with analyst expectations. But worries about a recent sales slowdown accelerating as shoppers battle a weakening economy and high food prices drove the grocery store operator's shares down $2.28, or 7.1 percent, to $29.66.

The Labor Department reported that the number of U.S. workers filing new claims for unemployment benefits fell last week. However, claims lasting more than one week rose, suggesting idled workers are staying unemployed longer.

The Russell 2000 index of smaller companies fell 13.74, or 1.94 percent, to 696.28.

Declining issues led advancers by nearly 3 to 1 on the New York Stock Exchange. Consolidated volume came to a relatively low 3.55 billion shares, down from 3.75 billion shares Wednesday.

Overseas, Japan's Nikkei stock average closed up 2.84 percent. Britain's FTSE 100 added 0.65 percent, Germany's DAX index rose 0.07 percent, and France's CAC-40 rose 0.96 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The Dow Jones industrial average ended the week up 32.81, or 0.27 percent, at 12,381.02. The Standard & Poor's 500 index finished up 3.12, or 0.23 percent, at 1,353.11. The Nasdaq composite index ended the week down 18.45, or 0.79 percent, at 2,303.35.

The NYSE DOW closed HIGHER +96.72	+0.79% on Friday February 22
Sym Last........ ........Change..........
Dow	12,381.02	+96.72	+0.79%
Nasdaq	2,303.35	+3.57	+0.16%
S&P 500	1,353.11	+10.58	+0.79%
30-yr Bond	4.5820%	+0.0290

NYSE Volume	3,575,669,250
Nasdaq Volume	2,340,831,500

*Overseas,*
Japan's Nikkei stock average closed down 1.37 percent. Britain's FTSE 100 fell 0.74 percent, Germany's DAX index closed down 1.43 percent, and France's CAC-40 slid 0.71 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,888.50	-43.70	-0.74%
DAX	6,806.29	-98.56	-1.43%
CAC 40	4,824.55	-34.30	-0.71%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,500.46	-187.82	-1.37%
Hang Seng	23,305.04	-317.96	-1.35%

http://biz.yahoo.com/ap/080223/wall_street.html
Stocks Rally on Word of Ambac Bailout
Saturday February 23, 4:35 am ET
By Tim Paradis, AP Business Writer
Dow Goes From 130 Points Down to 97 Up on Word of Bailout Plan for Troubled Bond Insurer Ambac

NEW YORK (AP) -- Wall Street staged a dramatic turnaround Friday, shooting higher in the last half-hour of trading after word that a bailout plan for troubled bond insurer Ambac Financial could be announced next week. The major indexes ended a week of choppy trading mixed.

CNBC reported shortly before the closing bell that a plan to help shore up the finances of Ambac Financial Group Inc. could be announced Monday or Tuesday. Ambac shares jumped on the report and finished up $1.48, or 16 percent, at $10.71.

The market's turnaround came after nearly two full days of selling. The Dow Jones industrial average had been down nearly 130 points, but by the close, showed a 225-point reversal from its lows of the session.

"There's probably some validity to the rumors," said Jim Herrick, manager of equity trading at Baird & Co., referring to traders' speculation about Ambac. "With the overall financial crunch we've experienced, this brings new confidence in the sector."

The Dow rose 96.72, or 0.79 percent, to 12,381.02.

Broader stock indicators also moved higher. The Standard & Poor's 500 index rose 10.58, or 0.79 percent, to 1,353.11, and the Nasdaq composite index rose 3.57, or 0.16 percent, to 2,303.35.

For the week, the Dow edged up 0.27 percent, while the S&P 500 rose 0.23 percent and the Nasdaq lost 0.79 percent.

The market's early decline followed a sell-off Thursday that left the Dow down more than 140 points, or 1.15 percent. Investors worried about a weaker-than-expected reading on regional manufacturing from the Federal Reserve Bank of Philadelphia as well as another drop in the Conference Board's monthly index of leading economic indicators.

Bond prices reversed alongside stocks. The yield on the 10-year Treasury note, which moves opposite its price, rose to 3.80 percent in late trading from 3.78 percent late Thursday. The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude for April delivery rose 58 cents to settle at $98.81 a barrel on the New York Mercantile Exchange amid concerns about possible supply disruptions and cold weather.

The day's late reversal appeared to ease some of Wall Street's concerns about the prospects for the financial sector and the overall economy after several weak economic readings. The reports arriving in recent weeks have raised questions about whether the Federal Reserve will be able to fend off a recession. There have also been more urgent fears the U.S. may be entering a period of stagflation -- when stalling growth accompanies rising prices -- for the first time since the 1970s.

As occurred Wednesday and again late Friday, investors at times set aside those concerns and snapped up stocks either to cover bets that stocks would fall or amid genuine, if tentative, optimism that officials from the Fed to other parts of the government could help right the economy. Wednesday's gains followed a quiet start to the week Tuesday -- markets were closed for Presidents Day Monday -- and came after minutes from the Fed's last meeting indicated the central bank plans to lower interest rates as needed and look past some gathering concerns about inflation.

Wall Street's bursts of optimism haven't proven long-lasting. Investors remain concerned that the economy could be so weak that rate cuts, which take months to work their way through the economy, won't stave off a further slowdown. A government-backed plan to aid bond insurers could help boost confidence in the bond market, where a lack of confidence has crimped the flow of money.

The Fed's next rate-setting meeting is scheduled for March 18. Policymakers lowered key interest rates a half-point to 3 percent on Jan. 30, following an emergency three-quarter point cut the previous week.

Ryan Detrick, strategist at Schaeffer's Investment Research in Cincinnati, said that among the reports due next week, investors will be looking to readings on producer prices -- a key measure of inflation -- as well as on consumer sentiment. He noted that recent consumer confidence figures, which have been weak, added to Wall Street's concerns that hesitant consumers could pare their spending.

A pullback among buyers is an unwelcome prospect for investors as consumer spending accounts for more than two-thirds of U.S. economic activity.

Meanwhile, Fed Chairman Ben Bernanke will be testifying about the economy during two appearances on Capitol Hill.

In corporate news, Merrill Lynch lowered its ratings on government-sponsored lenders Freddie Mac and Fannie Mae to "sell," contending the companies face continued headwinds amid the credit crisis. Freddie Mac fell $1.14, or 4.1 percent, to $26.61, while Fannie Mae declined 27 cents to $28.72.

Software maker Intuit Inc. fell $2.74, or 9.2 percent, to $27.05 after posting a 21 percent decline in its second-quarter profit late Thursday.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where consolidated volume came to 3.46 billion shares, compared with 3.55 billion seen Thursday.

The Russell 2000 index of smaller companies slipped 0.85, or 0.12 percent, to 695.43.

Overseas, Japan's Nikkei stock average closed down 1.37 percent. Britain's FTSE 100 fell 0.74 percent, Germany's DAX index closed down 1.43 percent, and France's CAC-40 slid 0.71 percent.

The Dow Jones industrial average ended the week up 32.81, or 0.27 percent, at 12,381.02. The Standard & Poor's 500 index finished up 3.12, or 0.23 percent, at 1,353.11. The Nasdaq composite index ended the week down 18.45, or 0.79 percent, at 2,303.35.

The Russell 2000 index finished the week down 6.09, or 0.87 percent, at 695.43.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 13,663.03, up 10.30 points, or 0.08 percent, for the week. A year ago, the index was at 14,778.71.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The Dow Jones industrial average ended the week up 32.81, or 0.27 percent, at 12,381.02. The Standard & Poor's 500 index finished up 3.12, or 0.23 percent, at 1,353.11. The Nasdaq composite index ended the week down 18.45, or 0.79 percent, at 2,303.35.

The NYSE DOW closed HIGHER +189.20 +1.53% on Monday February 25
Sym Last........ ........Change..........
Dow 12,570.22 +189.20 +1.53% 
Nasdaq 2,327.48 +24.13 +1.05% 
S&P 500 1,371.80 +18.69 +1.38% 
10 Yr Bond(%) 3.90% +0.11 

*Overseas,*
Tokyo closed 3.07 percent higher. In London, the FTSE 100 rose 1.89 percent, Paris' CAC 40 advanced 1.12 percent, and Frankfurt's DAX gained 1.96 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,999.50 +111.00 +1.89% 
DAX 6,882.56 +76.27 +1.12% 
CAC 40 4,919.26 +94.71 +1.96% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,914.57 +414.11 +3.07% 
Hang Seng 23,269.14 -35.90 -0.15% 
Straits Times 3,064.95 +16.31 +0.53% 

http://biz.yahoo.com/ap/080225/wall_street.html
*Stocks Rise As Ambac Rating Reaffirmed*
Monday February 25, 4:44 pm ET 
By Joe Bel Bruno, AP Business Writer  
*Wall Street Surges As Standard & Poor's Reaffirms Ambac and MBIA Ratings *

NEW YORK (AP) -- Wall Street bolted higher Monday after Standard & Poor's affirmed its ratings for Ambac Financial Group Inc. and MBIA Inc., raising hopes that troubled bond insurers will emerge from the credit market crisis on solid footing. The Dow Jones industrials rallied nearly 190 points.

The news came as a relief to a market that has fallen sharply in recent months on any negative news about the insurers; investors feared that a downgrade of the insurers would lead to billions of dollars in write-downs of securities held by already troubled banks and investment firms. Rating agencies including S&P have been under pressure to downgrade the insurers after they had weakened their financial positions by insuring subprime mortgage securities that later collapsed.

There has been speculation that Ambac might find sufficient capital early this week to hold onto the stellar "AAA" rating it needs to remain in the municipal bond business. Municipalities and companies use these insurers to back bonds, allowing them to get higher ratings and cheaper financing.

"This is essentially evidence that S&P has signed off any tentative deal," said Charlie Smith, chief investment officer at Fort Pitt Capital Group, of the rating agency's announcement.

Financial institutions have already suffered billions of dollars in losses from securities that lost value during the fourth quarter.

Chris Johnson, president of Johnson Research Group, said the market continues to look for any sign that financial stocks will make it through the credit crisis. Experts believe keeping bond insurers whole will spare greater losses for major global banks and brokerages.

"Even the smallest bit of positive news and the market takes off," he said. "Investors get excited if they sense a bottom in the financials because they've been the Achilles' heel of this market."

According to preliminary calculations, the Dow rose 189.20, or 1.53 percent, to 12,570.22.

Broader stock indexes also closed with a solid advance. The Standard & Poor's 500 index rose 18.69, or 1.38 percent, to 1,371.80; and the Nasdaq composite index added 24.13, or 1.05 percent, to 2,327.48.

Advancing issues outpaced decliners by about 2 to 1 on the New York Stock Exchange. Volume, which spiked after S&P affirmed the bond insurers, came to 1.51 billion shares.

Bond prices fell. The yield on the 10-year Treasury note, which moves opposite its price, rose to 3.90 percent from 3.80 percent late Friday. The dollar was mixed against most major currencies, while gold prices fell.

Oil prices hovered near $100 a barrel with supply concerns heightened by a Turkish military incursion into northern Iraq and warnings by Iran against further international sanctions. A barrel of light, sweet crude rose 42 cents to $99.23 on the New York Mercantile Exchange.

Wall Street also was positive after the National Association of Realtors reported existing homes fell less than forecast in January. Investors, while still wary of recession, grew hopeful the housing market might be on the verge of bottoming out with a rebound expected to start toward the end of this year.

But, that wasn't enough to help boost shares of banks like Citigroup Inc. after Goldman Sachs said it expects several more multibillion-dollar write-downs across the sector. The report said Citi faces a potential $12 billion write-down, and shares slipped 38 cents to $24.74. Ambac shares surged $1.70, or 16 percent, to $12.41; and MBIA jumped $2.40, or 19.7 percent, to $14.58.

In other corporate news, Visa said in a Securities and Exchange Commission filing it will offer 406 million shares at $37 to $42 per share. The IPO was seen as a positive sign that a major financial company feels confident to go public despite the ongoing market turbulence.

TakeTwo Interactive Software Inc. surged $9.53, or 55 percent, to $26.89 after rival Electronic Arts Inc. renewed its bid to buy the company. The stock is now trading at a 52-week high on speculation the bid could go hostile.

There was good news for cancer drug manufacturer Genentech Inc. The Food and Drug Administration granted an accelerated approval for its Avastin treatment, which is administered with a chemotherapy treatment to breast cancer patients. Shares rose $6.36, or 8.8 percent, to $77.96.

Lowe's Cos. reported a drop in fourth quarter earnings and cited the weak housing market. However, shares of the home improvement retailer rose 91 cents, or 3.8 percent, to $24.50 amid hopes that the housing slump might soon hit a bottom.

The Russell 2000 index of smaller companies rose 15.03, or 2.16 percent, to 710.46.

Overseas, Tokyo closed 3.07 percent higher. In London, the FTSE 100 rose 1.89 percent, Paris' CAC 40 advanced 1.12 percent, and Frankfurt's DAX gained 1.96 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER +114.70 points +0.91% on Tuesday February 26
Sym Last........ ........Change..........
*Overseas,*
Dow 12,684.92 +114.70 +0.91% 
Nasdaq 2,344.99 +17.51 +0.75% 
S&P 500 1,381.29 +9.49 +0.69% 
10 Yr Bond(%) 3.8600% -0.0420 

*Overseas*
Japan's Nikkei stock average fell 0.65 percent. Britain's FTSE 100 rose 1.47 percent, Germany's DAX index rose 1.50 percent, and France's CAC-40 rose 1.09 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 6,087.40 +87.90 +1.47% 
DAX 6,985.97 +103.41 +1.50% 
CAC 40 4,973.07 +53.81 +1.09% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,824.72 -89.85 -0.65% 
Hang Seng 23,714.75 +445.61 +1.92% 
Straits Times 3,075.82 +10.87 +0.35% 

http://biz.yahoo.com/ap/080226/wall_street.html
*Wall Street Lifts on IBM Stock Buyback*
Tuesday February 26, 4:18 pm ET 
By Madlen Read, AP Business Writer  
*Stocks Lift After IBM OKs Buyback, Offsetting Disappointment Over Economic Data *

NEW YORK (AP) -- Wall Street reversed earlier losses and rallied Tuesday after IBM approved a $15 billion stock buyback, suggesting to investors that there are still some companies out there with financial muscle. The Dow Jones industrial average rose more than 110 points.

IBM Corp., one of the 30 companies that make up the Dow, said the buyback will boost its earnings for 2008 past Wall Street's prior forecasts. Shares of Big Blue vaulted $4.30, or 3.9 percent, to $114.38.

The buyback news followed two dismal economic reports showing core wholesale prices shot up more than expected last month and that consumer confidence is waning. The data reinforced worries that the United States is suffering from stagflation, a state when the economy weakens amid rising costs.

"The market is kind of overcoming negative news, which is potentially a next step toward higher prices," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. "At least in the short-term, it's a nice change here."

Tuesday's advance extended a rally that began Monday when Standard & Poor's affirmed the AAA ratings for troubled bond insurers Ambac Financial Group Inc. and MBIA Inc. MBIA, which on Tuesday said it would eliminate its quarterly dividend, was also affirmed by Moody's Investors Service.

According to preliminary calculations, the Dow rose 114.70, or 0.91 percent, to 12,684.92, after declining in earlier trading.

Broader stock indicators also advanced. The Standard & Poor's 500 index rose 9.49, or 0.69 percent, to 1,381.29, and the Nasdaq composite index rose 17.51, or 0.75 percent, to 2,344.99.

Government bonds rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, slipped to 3.86 percent from 3.91 percent late Monday. The dollar was mixed against most other major currencies, while gold prices edged higher.

Tuesday's pair of economic reports was decidedly downbeat.

The Conference Board's index of consumer confidence plunged in February to 75.0 from a revised 87.3 in January. The reading was the lowest since the index registered 64.8 in February 2003, and came in far below analysts' average estimate. Though the report is not a perfect predictor of consumer spending, it suggests Americans are watching their budgets.

Meanwhile, the latest wholesale inflation report showed the headline producer price index rising by a full 1 percent in January, driven up by higher energy prices and soaring food costs.

The result was a bit below the 1.1 percent advance projected by Thomson/IFR, but core PPI -- which excludes food and energy prices -- rose 0.4 percent, steeper than the predicted 0.3 percent gain. The data was disconcerting because the Federal Reserve is known to closely monitor core-level inflation in setting monetary policy.

"The market is holding up extraordinarily well given all this negative stuff," said Scott Fullman, director of investment strategy for I. A. Englander & Co. He said the prospect of more corporate buybacks was a "positive for the market," but also, "the market is tired of going down."

Cementing the belief that costs won't be easing anytime soon was oil's surge back above $100 a barrel. Light, sweet crude rose $1.65 to $100.88 a barrel on the New York Mercantile Exchange.

Positive news from some retailers helped keep stocks afloat.

Target Corp., the discount store chain, said fourth-quarter profits fell due to poor holiday sales and a quirk in the earnings calendar, but results came in above the average forecast. Target rose $1.64, or 3.1 percent, to $54.89.

Rite Aid Corp. also jumped, after an analyst upgraded the pharmacy chain and said a recent stock drop makes its risk and reward profile more favorable. Rite Aid rose 17 cents, or 6.5 percent, to $2.78.

RadioShack Corp. rose after the electronics retailer posted a rise in fourth-quarter profit and higher sales than analysts predicted. RadioShack rose $3.30, or 21.5 percent, to $19.13.

In other corporate news, Tenet Healthcare Corp., the hospital operator, said its fourth-quarter losses narrowed sharply thanks to new contracts, higher admissions and cost-cutting. Tenet rose 62 cents, or 14.4 percent, to $4.90.

The Russell 2000 index of smaller companies rose 6.86, or 0.97 percent, to 717.32.

Advancing issues outnumbered decliners by about 3 to 1 on the New York Stock Exchange, where volume came to 1.53 billion shares.

Overseas, Japan's Nikkei stock average fell 0.65 percent. Britain's FTSE 100 rose 1.47 percent, Germany's DAX index rose 1.50 percent, and France's CAC-40 rose 1.09 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER +9.36 +0.07%  on Wednesday February 27
Sym Last........ ........Change..........
Dow 12,694.28 +9.36 +0.07% 
Nasdaq 2,353.78 +8.79 +0.37% 
S&P 500 1,380.02 -1.27 -0.09% 
10 Yr Bond(%) 3.8500% -0.0100  

*Overseas*
Japan's Nikkei stock average closed 1.49 percent higher. Britain's FTSE 100 fell 0.18 percent, Germany's DAX index rose 0.17 percent, and France's CAC-40 fell 0.09 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 6,076.50 -10.90 -0.18% 
DAX 6,997.85 +11.88 +0.17% 
CAC 40 4,968.82 -4.25 -0.09% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 14,031.30 +206.58 +1.49% 
Hang Seng 24,483.84 +769.09 +3.24% 
Straits Times 3,108.92 +31.09 +1.01% 

http://biz.yahoo.com/ap/080227/wall_street.html
*Stocks Finish Mixed in Choppy Session*
Wednesday February 27, 4:36 pm ET 
By Joe Bel Bruno, AP Business Writer  
*Investors Pare Gains After Regulator Lifts Caps on Fannie, Freddie, Bernanke Comments Please *

NEW YORK (AP) -- Wall Street finished mixed in another seesaw session Wednesday after regulators allowed Fannie Mae and Freddie Mac to buy more mortgages and Federal Reserve Chairman Ben Bernanke said the central bank will remain vigilant about the weakened economy.

Investors pared the market's gains after both developments had initially boosted confidence amid increasing signs of a slowing economy. Wall Street has in recent months grappled with concerns about rising prices, a weaker dollar and continued turmoil in the credit markets.

Bernanke indicated the Fed is more concerned about the sagging economy then the immediate risks of inflation. In testimony on Capitol Hill, he told lawmakers the Fed will "act in a timely manner as needed to support growth and to provide adequate insurance against downside risks."
The remarks came as the dollar plunged to a record low against the 15-nation euro. That sent already inflated oil and gold prices further into record high territory, and raised the prospect of accelerating inflation.

Meanwhile, Fannie Mae and Freddie Mac -- the biggest sources of financing for U.S. home loans -- helped give the market some ballast after the government removed restrictions on the size of their portfolios. That offered a chance for an easing of the extremely tight mortgage market that has been battered by the subprime loan crisis.

"The government is trying to do their part," said Todd Leone, managing director of equity trading at Cowen & Co. "Together, this helps put a little more faith in the economy."

Major indexes initially moved higher before investors cash in profits, following a pattern set in recent weeks. According to preliminary calculations, the Dow Jones industrial average -- now up four straight sessions -- rose 9.36, or 0.07 percent, to 12,694.28.

Broader indexes were narrowly mixed. The Standard & Poor's 500 index fell 1.27, or 0.09 percent, to 1,380.02, and the Nasdaq composite index rose 8.79, or 0.37 percent, to 2,353.78.

Stocks were somewhat under pressure after the euro climbed to a record high of $1.5057 as sentiment increased that the Fed would continue its rate cut campaign. The U.S. currency was mixed against other major currencies.

The dollar's continued slide drove more money into commodities -- especially into oil and gold.

Oil prices broke through a new intraday high of $102 a barrel in overnight trading, then fell $1.24 to settle at $99.64 a barrel on the New York Mercantile Exchange. Meanwhile, gold futures set a new high of $961.30 an ounce.

Bond prices rose slightly. The yield on the benchmark 10-year note, which moves opposite its price, fell to 3.85 percent from 3.86 percent late Tuesday.

The moves followed a government report showing business investment in durable goods weakened more than forecast at the start of the year, playing into the nervousness about economic slowing. The Commerce Department reported durable goods orders dropped 5.3 percent in January, exceeding forecasts.

There was more bad news about the housing slump. The Commerce Department reported that new home sales fell in January for a third straight month, pushing activity down to the slowest pace in nearly 13 years.

Investors have been monitoring economic data to get a better idea about inflation, which could cause the Fed to stop lowering rates. The Fed, widely expected to make a half-point cut in interest rates, will meet again March 18.

Harry Clark, president of Clark Capital Management in Philadelphia, said a slowdown in the economy that avoids recession could create a moderate drop in demand and help ease pressure from rising prices.

"If the economy goes down the drain with rising prices, that's stagflation," he said. "Rising prices aren't a big deal if everyone is employed and the economy is growing."

The notion of some easing in the weakened mortgage sector pleased investors. Fannie Mae shares rose 30 cents to $27.27, while Freddie Mac shares fell 12 cents to $25.09.

The Russell 2000 index of smaller companies fell 0.88, or 0.12 percent, to 716.44.

Declining issues outpaced advancers by a 5 to 4 margin on the New York Stock Exchange, where volume came to 1.46 billion shares.

Overseas, Japan's Nikkei stock average closed 1.49 percent higher. Britain's FTSE 100 fell 0.18 percent, Germany's DAX index rose 0.17 percent, and France's CAC-40 fell 0.09 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed LOWER -112.10	-0.88% on Thursday February 28
Sym Last........ ........Change..........
Dow	12,582.18	-112.10	-0.88%
Nasdaq	2,331.57	-22.21	-0.94%
S&P 500	1,367.68	-12.34	-0.89%
30-yr Bond	4.5550%	-0.0960

NYSE Volume	3,875,836,500
Nasdaq Volume	2,111,746,750

Overseas
Japan's Nikkei stock average fell 0.75 percent. Britain's FTSE 100 fell 1.75 percent, Germany's DAX index fell 1.92 percent, and France's CAC-40 fell 1.97 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,965.70	-110.80	-1.82%
DAX	6,862.52	-135.33	-1.93%
CAC 40	4,865.23	-103.59	-2.08%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,925.51	-105.79	-0.75%
Hang Seng	24,591.69	+107.85	+0.44%
Straits Times	3,074.15	-20.30	-0.66%

http://biz.yahoo.com/ap/080228/wall_street.html
*Stocks End Lower on Jobs, Bank Worries*
Thursday February 28, 5:41 pm ET
By Madlen Read, AP Business Writer
*Wall Street Falls After Jump in Jobless Claims, Bernanke's Comments on Bank Troubles*

NEW YORK (AP) -- Stocks sank Thursday as investors fretted over a rise in unemployment claims and the prospect of more bank failures. The Dow Jones industrial average fell 112 points, breaking its four-day winning streak.

Federal Reserve Chairman Ben Bernanke said in testimony to Congress that while large U.S. banks will likely recover from the recent credit crisis, other banks are at risk of failing. Three small U.S. banks have already failed since the summer, when the lending industry started losing billions of dollars as mortgage defaults soared.

"Implying that some banks may fail stirs concerns for any investor who's familiar with financial and economic history," said Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors. "Investors have been very edgy about credit market conditions and banks' financial conditions. Very edgy. And this doesn't remove that edginess."

Earlier, stocks had fallen in response to a Labor Department report that first-time unemployment claims rose last week by 19,000 to 373,000, the highest level since late January.

Scott Wren, equity strategist for A.G. Edwards & Sons, said he still believes there's less than a 50 percent chance of a recession, but that it's clear employers are cautious about hiring.

"To consistently see claims up near 400,000, that's pretty telling often-times of a recession," he said.

Following four straight days of gains in the Dow -- its longest run of gains so far this year -- the blue-chip index sank 112.10, or 0.88 percent, to 12,582.18.

Broader stock indicators also lost ground. The Standard & Poor's 500 index declined 12.34, or 0.89 percent, to 1,367.68, and the Nasdaq composite index lost 22.21, or 0.94 percent, to 2,331.57.

Bernanke offered up some positive comments in his testimony -- that most banks will bounce back from their mortgage troubles, that inflation should ease, and that the United States is nowhere near the stagflation scenario of the 1970s. When stagflation is present, the economy remains weak as inflation accelerates.

But Wall Street was skeptical of Bernanke's fairly upbeat take on the economy -- particularly as oil and gold hit new records -- and latched onto his admission that more banks could fail.

"Bernanke is about as skillful a Fed chairman as I have seen," said Johnson, whose more than four-decade career spans six Fed chairmen. "But these times require a very, very skillful chairman. I don't believe I've seen times as challenging as these."

Crude oil jumped $2.95 to settle at a record $102.59 a barrel on the New York Mercantile Exchange.

Gold prices also spiked to an all-time trading high of $975 an ounce.

Government bonds rose as stocks slumped. The yield on the benchmark 10-year Treasury note, which moves opposite its price, tumbled to 3.67 percent from 3.85 percent late Wednesday.

Meanwhile, corporate news was gloomy. Sprint Nextel Corp. posted a $29.5 billion loss in the fourth quarter after losing customers and writing down the remaining value of its Nextel Communications buy. It also slashed its dividend. Sprint tumbled 86 cents, or 9.6 percent, to $8.09.

Thornburg Mortgage Inc. plunged after the lender said it has received margin calls -- calls for immediate repayment of debt -- on a portfolio of securities backed by alt-A mortgages. Alt-A loans are those given to customers with little credit history or minor credit problems.

Thornburg fell $1.78, or 15.4 percent, to $9.76.

And investors remain jittery about the prospect of more problems emerging in the struggling financial sector. A few weeks after French bank Societe Generale revealed a $7 billion loss due to the actions of a rogue trader, New York-based futures and options broker MF Global Ltd. said Thursday it lost $141.5 million after a broker traded more wheat contracts than allowed.

MF Global dropped $8.09, or 27.6 percent, to $21.19.

After the market closed Thursday, Dell Inc. reported a quarterly profit decline that was worse than Wall Street expected. Dell shares slipped 0.8 percent in aftermarket trading.

The Russell 2000 index of smaller companies fell 10.72, or 1.50 percent, to 705.72.

Declining issues outnumbered advancers by more than 2 to 1 on the New York Stock Exchange. Consolidated volume came to 3.76 billion shares, down from 3.81 billion shares Wednesday.

Overseas, Japan's Nikkei stock average fell 0.75 percent. Britain's FTSE 100 fell 1.75 percent, Germany's DAX index fell 1.92 percent, and France's CAC-40 fell 1.97 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## Wysiwyg

What a wicked session! Some of those `shunts` down were relentless and seemingly endless.

DOW off  a  lot.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

A very big RED day!!

The Dow fell 315.79, or 2.51 percent, to 12,266.39. The decline more than erased the week's 200 point gain and sent stocks lower for February, the fourth straight month of declines.

The NYSE DOW closed LOWER -315.79	-2.51% on Friday February 29
Sym Last........ ........Change..........
Dow	12,266.39	-315.79	-2.51%
Nasdaq	2,271.48	-60.09	-2.58%
S&P 500	1,330.63	-37.05	-2.71%
30-yr Bond	0.4420%	-4.1130

NYSE Volume	4,316,356,500
Nasdaq Volume	2,480,089,250

*Overseas*
Japan's Nikkei stock average closed down 2.32 percent. Britain's FTSE 100 closed down 1.36 percent, Germany's DAX index fell 1.67 percent, and France's CAC-40 fell 1.67 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,884.30	-81.40	-1.36%
DAX	6,748.13	-114.39	-1.67%
CAC 40	4,790.66	-74.57	-1.53%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,603.02	-322.49	-2.32%
Hang Seng	24,331.67	-260.02	-1.06%
Straits Times	3,026.45	-47.70	-1.55%

http://biz.yahoo.com/ap/080229/wall_street.html
Stocks Fall Sharply on Economic Worries
Friday February 29, 4:50 pm ET
By Tim Paradis, AP Business Writer
Stocks Fall As Economic Reports, Disappointing Quarterly Reports Stir Concerns About Economy

NEW YORK (AP) -- Stocks fell sharply Friday after a series of depressing economic and corporate reports and high oil prices stoked concerns about the health of the economy. The major stock indexes fell more than 2.5 percent and the Dow Jones industrials lost 315 points.

Investors were unnerved by disappointing quarterly results from American International Group Inc. and Dell Inc. And an index of regional business activity that Wall Street regards as a good indicator of a broader report set to arrive next week had its weakest showing in more than six years.

Oil prices continued to stir concern about inflation after pushing past $103 per barrel for the first time.

While stocks made sharp gains in the first three days this week even amid somewhat lackluster economic readings, the litany of concerns investors succumbed to Friday reflected the undercurrent of uncertainty that has kept Wall Street on edge for months.

"We really had to face a plethora of negative news," said Art Hogan, chief market strategist at Jefferies & Co. in Boston. "We just ran out of gas this week."

Hogan said while stocks held up admirably early in the week amid an uneven flow of economic news, they couldn't hold their gains after the latest round of weak economic signals.

The Dow fell 315.79, or 2.51 percent, to 12,266.39. The decline more than erased the week's 200 point gain and sent stocks lower for February, the fourth straight month of declines.

Broader stock indicators also tumbled. The Standard & Poor's 500 index lost 37.05, or 2.71 percent, to 1,330.63, and the Nasdaq composite index declined 60.09, or 2.58 percent, to 2,271.48.

Bond prices rose sharply as stocks lost ground. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.52 percent from 3.67 percent late Thursday.

The Chicago Board Options Exchange's volatility index, known as the VIX, and often referred to as the "fear index," jumped 12.5 percent.

The dollar showed a slight rebound Friday after hitting a record low against the euro Thursday. The slide in the dollar has sent prices of commodities such as oil and gold soaring.

Light, sweet crude jumped to a record of $103.05 overnight before settling down 75 cents at $101.84 a barrel on New York Mercantile Exchange.

Insurer AIG announced a $5.29 billion quarterly loss largely because of steep declines in the value of a portfolio of contracts known as credit default swaps. Such contracts pledge to cover missed payments on debt. The company's losses caught analysts off guard, as many had expected the company to turn a profit.

While each of the 30 stocks that comprise the Dow industrials showed declines, those of AIG were the steepest. The stock fell $3.29, or 6.6 percent, to $46.86.

Computer maker Dell posted a 6 percent decline in its quarterly profit, falling below analysts' expectations, and warned that its business could suffer from reduced customer spending. Dell slid 97 cents, or 4.7 percent, to $19.90.

Bill Shultz, chief investment officer at McQueen, Ball & Associates, said AIG's report left investors uneasy about the prospect of further sizable write-downs of bad debt.

"Every time we get to a point where we think we've finished, another report comes out and says we're not done yet," he said.

He expects Wall Street will continue to proceed with "fits and starts" until investors sense that the bad debt from faltering mortgages has been accounted for and that balance sheets are on the mend.

Some relief for the ailing bond insurance industry is on the way, though the news did little to dislodge Wall Street's glum mood Friday. Billionaire investor Wilbur Ross agreed to invest up to $1 billion in Bermuda-based reinsurer Assured Guaranty Ltd. Assured Guaranty rose $2.87, or 12.6 percent, to $25.65.

In economic news, the Chicago purchasing managers index for February came in at 44.5, a weaker reading than the 48.5 that had been expected, according to Dow Jones Newswires. The report painted a dreary picture of the manufacturing sector and is seen as a precursor to the national Institute for Supply Management report expected Monday.

A government report showed that personal spending, when stripping out the effects of inflation, stood unchanged in January. The findings arose further concern that consumers are more hesitant to reach into their wallets amid the uncertainties facing the economy.

A parade of economic worries has weighed on consumer as well. The Reuters-University of Michigan final consumer sentiment reading for February came in at 70.8, better than the figure of 69 that had been expected. Still, the index was well off the level of 78.4 seen in January.

Declining issues outnumbered advancers by about 8 to 1 on the New York Stock Exchange, where volume came to 1.76 billion shares compared with 1.46 billion shares traded Thursday.

The Russell 2000 index of smaller companies fell 19.54, or 2.8 percent, to 686.18.

Overseas, Japan's Nikkei stock average closed down 2.32 percent. Britain's FTSE 100 closed down 1.36 percent, Germany's DAX index fell 1.67 percent, and France's CAC-40 fell 1.67 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed LOWER by -7.49 points -0.06% on Monday March 3
Sym Last........ ........Change..........
Dow 12,258.90 Dow 12,258.90 -7.49 -0.06% 
Nasdaq 2,258.60 -12.88 -0.57% 
S&P 500 1,331.34 +0.71 +0.05% 
10 Yr Bond(%) 3.5340% 0.0000 

*Overseas*
Stock markets overseas fell sharply after Wall Street's retrenchment Friday. Japan's Nikkei stock average dropped 4.49 percent. Britain's FTSE 100 fell 1.12 percent, Germany's DAX index lost 0.86 percent, and France's CAC-40 declined 1.00 percent.

*Europe*.
Symbol... Last...... .....Change.......
FTSE 100 5,818.60 -65.70 -1.12% 
DAX 6,689.95 -58.18 -0.86% 
CAC 40 4,742.66 -48.00 -1.00% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 12,992.18 -610.84 -4.49% 
Hang Seng 23,584.97 -746.70 -3.07% 
Straits Times 2,926.58 -99.87 -3.30% 

http://biz.yahoo.com/ap/080303/wall_street.html
*Stocks Flat After Weak Economic Data*
Monday March 3, 4:45 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks End Narrowly Mixed After Readings on Manufacturing, Construction; Commodities Spike *

NEW YORK (AP) -- Wall Street closed narrowly mixed Monday as investors wrestled with record-high commodities prices and data that pointed to a continually weakening economy.

Investors have been trying to determine whether recent pessimism about the economy has been well-founded or overwrought. The Institute for Supply Management's index of U.S. manufacturing activity came in Monday at 48.3 -- indicating a milder contraction than the 48.1 the market expected, but still, its lowest level in nearly five years. 

Furthermore, the Commerce Department reported that construction spending in January fell by 1.7 percent, the steepest amount in 14 years.

"The two economic numbers that came out today were still rather on the negative side and they point to further weakness in economic activity," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners Inc.

But rising commodities prices -- although they threaten to eat into consumers' discretionary spending -- encouraged Wall Street to pour money into energy, metals and mining companies. Crude oil surged to a record near $104 a barrel before settling up 61 cents at $102.45, while gold soared to a record near $1,000 an ounce. Silver, corn and soybean prices also hit all-time highs.

According to preliminary calculations, the Dow Jones industrial average -- after slumping more than 100 points briefly during afternoon trading -- finished down 7.49, or 0.06 percent, to 12,258.90.

Broader stock indicators were mixed. The Standard & Poor's 500 index rose 0.71, or 0.05 percent, to 1,331.34, while the Nasdaq composite index fell 12.88, or 0.57 percent, to 2,258.60.

Bond prices pulled back Monday after jumping amid Friday's stock market losses. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.56 percent from 3.53 percent late Friday.

Mining and energy companies were big winners in the stock market Monday. Coeur d'Alene Mines Corp. rose 34 cents, or 7.1 percent, to $5.16; Harmony Gold Mining Ltd. rose $1.08, or 8.9 percent, to $13.22; and Massey Energy Co. rose $3.34, or 8.7 percent, to $41.60.

Commodity prices soared as the dollar hit a fresh low against the euro.

Stifel Nicolaus market strategist Joe Battipaglia said he believes stagflation -- weak growth amid accelerating inflation -- is indeed occurring in the United States, despite comments last week by Federal Reserve Chairman Ben Bernanke. The Fed chief said inflation should abate as the economy slows, but Battipaglia argued that the chairman made the same pledge in 2006.

"It didn't play well the first time, and it's not playing well the second time," said Battipaglia, noting that the most recent consumer price index shows an annual inflation rate above 4 percent. That's higher than the target fed funds rate, which has been cut to 3 percent.

"The truth is, the price for everything, except for maybe soft goods and electronics, is going up," Battipaglia said.

Monday's volatile trading followed a sell-off Friday brought by an unwelcome mix of economic and corporate reports. The news dashed hopes from early last week that the economy would soon show signs of a recovery. The major indexes lost more than 2.5 percent Friday, with the Dow industrials falling 315 points.

Billionaire Warren Buffett said in a CNBC interview Monday the U.S. economy is essentially in a recession. Most economists define a recession as two straight quarters of negative growth in the nation's gross domestic product.

The two weakest stocks Monday among the 30 Dow companies were Boeing Co. and Citigroup Inc.

Boeing fell after losing a $40 billion Air Force tanker contract. Boeing had been supplying refueling tankers to the Air Force for nearly 50 years. European Aeronautic Defence and Space Co., which makes Airbus planes, and Northrop Grumman, were named Friday as winners of one of the biggest Pentagon contracts in decades.

Boeing fell $2.12, or 2.56 percent, to $80.67, and Northrop Grumman jumped $3.96, or 5 percent, to $82.57.

Citigroup fell 62 cents, or 2.61 percent, to $23.09, alongside other financial stocks due to the growing fear that problems with credit will get much worse before they improve.

Jumbo mortgage lender Thornburg Mortgage Inc. said Monday it could go out of business because more financial backers are demanding additional collateral or repayment on the loans they made. The mortgage lender's shares fell $4.58, or 51 percent, to $4.32.

"That's just a reminder that investors are not entirely sure what they're up against with these finance companies," Battipaglia said.

And Security Capital Assurance Ltd. said it expects to log $1.5 billion in credit costs for the fourth quarter, heightening worries about the health of the bond insurance industry.

SCA shares fell 80 cents, or 53 percent, to 72 cents a share. MBIA Inc. fell 35 cents, or 2.7 percent, to $12.62, and Ambac Financial, another bond insurer, lost $1.20, or 11 percent, to $9.94.

Declining issues outnumbered advancers by about 8 to 7 on the New York Stock Exchange, where volume came to 1.57 billion shares.

The Russell 2000 index of smaller companies sank 1.96, or 0.29 percent, to 684.22.

Stock markets overseas fell sharply after Wall Street's retrenchment Friday. Japan's Nikkei stock average dropped 4.49 percent. Britain's FTSE 100 fell 1.12 percent, Germany's DAX index lost 0.86 percent, and France's CAC-40 declined 1.00 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

with 90 minutes to go it is not looking very good!!!!!!

Dow	12,057.33	-201.57	-1.64%
Nasdaq	2,224.59	-34.01	-1.51%
S&P 500	1,310.23	-21.11	-1.59%
30-yr Bond	4.4340%	+0.0090


----------



## ShareIt

bigdog said:


> with 90 minutes to go it is not looking very good!!!!!!
> 
> Dow	12,057.33	-201.57	-1.64%
> Nasdaq	2,224.59	-34.01	-1.51%
> S&P 500	1,310.23	-21.11	-1.59%
> 30-yr Bond	4.4340%	+0.0090




Well what do you know.... the index comes close (I think touches) 12,000 then another report on Ambac comes out and the market rallies! All those poor investors getting sucked into the big fall around the corner.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

*The finish in the last 90 minutes was a big relief!!!*

The NYSE DOW closed LOWER by -45.10 points -0.37% on Tuesday March 4
Sym Last........ ........Change..........
Dow 12,213.80 -45.10 -0.37% 
Nasdaq 2,260.28 +1.68 +0.07% 
S&P 500 1,326.75 -4.59 -0.34% 
10 Yr Bond(%) 3.5790% +0.0450 

*Overseas*
Japan's Nikkei stock average edged up less than 0.01 percent. Britain's FTSE 100 fell 0.87 percent, Germany's DAX index fell 2.17 percent, and France's CAC-40 finished down 1.41 percent.

*Europe.*
Symbol... Last...... .....Change.......
FTSE 100 5,767.70 -50.90 -0.87% 
DAX 6,545.04 -144.91 -2.17% 
CAC 40 4,675.91 -66.75 -1.41% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 12,992.28 +0.10 +0.00% 
Hang Seng 23,119.87 -465.10 -1.97% 
Straits Times 2,919.68 -6.87 -0.23% 

http://biz.yahoo.com/ap/080304/wall_street.html
*Stocks Pull Off Lows on Bargain Hunting*
Tuesday March 4, 4:41 pm ET 
By Madlen Read, AP Business Writer  
*Stocks Pulls Off Lows As Ambac Rumors, Comments From Amazon, Cisco, Encourage Bargain Hunting *


NEW YORK (AP) -- Wall Street closed mixed Tuesday, recuperating from a sharp plunge as investors snapped up bargain stocks on rumors that a bond insurer rescue plan is progressing and upbeat comments from Cisco Systems Inc. and Amazon.com Inc.

Earlier Tuesday, the market sank after Merrill Lynch lowered its full-year earnings prediction for Citigroup Inc., which a Dubai fund executive said will need to raise more cash to stay in business. Another damper on trading was Intel Corp., which lowered its forecast for first-quarter profit margins.

But in afternoon trading, the stock market showed signs of optimism.

The financial sector regained some steam after CNBC reported that a plan to save the bond insurer Ambac Financial is advancing nicely.
Technology stocks rebounded, too, after a Dow Jones Newswires report that Cisco CEO John Chambers said he is "even more comfortable" with the long-term growth targets the company has outlined, and after Amazon.com's chief financial officer reiterated the online retailer's 2008 revenue forecast.

Wall Street is jittery, however, and as the volatility of the past several months has proved, the market's optimism can quickly turn to pessimism from one day to the next. While some investors search for bargains when stocks sink, the overall market is plagued by persistent worries about the bad debt held by the world's banks.

"What we're seeing is a very nervous market, and nervousness breeds volatility," said Anthony Conroy, managing director and head trader for BNY ConvergEx Group. "It took years to put this stuff on their books -- it's not going to come off quickly."

The Dow Jones industrial average fell 45.10, or 0.37 percent, to 12,213.80, after tumbling more than 200 points earlier in the day.

Broader stock indicators finished mixed, also rebounding off their lows of the session. The Standard & Poor's 500 index fell 4.59, or 0.34 percent, to 1,326.75, while the Nasdaq composite index rose 1.68, or 0.07 percent, to 2,260.28.

Bond prices sank as stocks regained their footing. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.61 percent from 3.56 percent late Monday.

Wall Street has been extremely turbulent as it tries to gauge whether the economy is in recession -- and whether investors have been too optimistic about corporate profits bouncing back in the second half of the year.

"The soft economy creates a difficult profit environment for most firms. And with investors' skepticism at high levels, they are quick to sell," said Alan Gayle, senior investment strategist at Trusco Capital Management.

Citigroup, a Dow component, fell 99 cents, or 4.3 percent, to $22.10, after hitting a new nine-year low. The head of a government-owned investment firm in Dubai said Citigroup would need to raise more than nearly $20 billion it has already nabbed over the past few months to fix its debt problems.

Financial companies are poring over their books to determine what loans remain sound, what debt might be in trouble, and how much all of it is worth. A precipitous slowdown in the housing market last year revealed the fallacy upon which many loans were made -- the belief that home prices would continue to rise and that consumers could always wipe away their debts by refinancing.

Now, banks are not only strapped with souring mortgages, but the prospect of big losses from other types of consumer and corporate debt.

Though some banks rebounded on the Ambac rumor, other banks declined alongside Citi, including Dow components Bank of America Corp. and JPMorgan Chase & Co. Bank of America fell $1.05 to $79.62, and JPMorgan fell 63 cents to $39.19.

Ambac rose 78 cents, or 7.9 percent, to $10.72, while MBIA Inc., another bond insurer, rose 36 cents, or 2.9 percent, to $12.98.

After calming words from its CEO, Cisco recovered from its lows to close down 11 cents at $24.29. Amazon.com shot up $2.91, or 4.7 percent, to $65.34.

Dow component Intel also rebounded, finishing down a penny at $20 a share.

Wall Street is particularly anxious over the technology sector, which was very strong in 2007 and is now one of the weakest in the market along with financials.

"Long term, tech will remain an important sector, but it is a cyclical sector and can be very volatile," Gayle said. "If there is a belief that our economy -- and the global economy -- is going to move to a slower pace of growth, then cyclical industries like tech are going to be impacted."

Light, sweet crude fell $3.24 to $99.21 a barrel on the New York Mercantile Exchange.

The dollar weakened against most other major currencies, while gold prices rose.

Light, sweet crude fell $2.93 to settle at $99.52 a barrel on the New York Mercantile Exchange.

Declining issues outnumbered advancers by about 2 to 1 on the New York Stock Exchange, where volume came to 1.79 billion shares.

The Russell 2000 index of smaller companies fell 3.24, or 0.47 percent, to 680.98.

Overseas, Japan's Nikkei stock average edged up less than 0.01 percent. Britain's FTSE 100 fell 0.87 percent, Germany's DAX index fell 2.17 percent, and France's CAC-40 finished down 1.41 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER by +41.19 points +0.34%  on Wednesday March 5
Sym Last........ ........Change..........
Dow 12,254.99 +41.19 +0.34% 
Nasdaq 2,272.81 +12.53 +0.55% 
S&P 500 1,333.70 +6.95 +0.52% 
10 Yr Bond(%) 3.6930% +0.1140 

*Overseas*
Japan's Nikkei stock average closed down 0.16 percent. In afternoon trading, Britain's FTSE 100 rose 1.49 percent, Germany's DAX index rose 2.12 percent, and France's CAC-40 advanced 1.72 percent.
*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,853.50 +85.80 +1.49% 
DAX 6,683.71 +138.67 +2.12% 
CAC 40 4,756.42 +80.51 +1.72% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 12,972.06 -20.22 -0.16% 
Hang Seng 23,114.34 -5.53 -0.02% 
Straits Times 2,910.77 -8.91 -0.31% 

http://biz.yahoo.com/ap/080305/wall_street.html
*Stocks Edge Higher After Ambac, Fed Data*
Wednesday March 5, 4:28 pm ET 
By Tim Paradis, AP Business Writer  
*Wall Street Edges Higher in Volatile Sesssion Amid Ambac Bailout, Disappointment in Fed Data *

NEW YORK (AP) -- Wall Street managed a moderate gain in an erratic session Wednesday as investors sorted through a downbeat Federal Reserve assessment of the economy and were also disappointed by a plan to bail out troubled bond insurer Ambac Financial Group Inc.

The Fed's Beige Book report on regional economies indicated growth at the start of the year was sluggish and accompanied by rising price pressures. The report also cited tighter credit standards.

Meanwhile, Ambac said it plans to issue more than $1 billion in common stock to help shore up its battered balance sheet. Investors had hoped for a contribution from global banks to help Ambac, whose plan will dilute its outstanding shares.

Investors remain nervous about how the fallout from the global credit crisis will hurt financial companies. Recent speculation that Citigroup Inc. might log significant write-downs from exposure to subprime mortgage-related securities only exacerbated those fears.

"I think it's more the Ambac" news, said Dave Rovelli, managing director of U.S. equity trading at Canaccord Adams, said referring to traders' expectations about a bailout for the bond insurer. That's just not what they were looking for."

The Dow Jones industrials were up as much as 120 points earlier in the session after a stronger-than-expected reading on the health of the service sector and figures on worker productivity calmed fears about the economy.

According to preliminary calculations, the Dow rose 41.19, or 0.34 percent, to 12,254.99.

Broader stock indicators were higher. The Standard & Poor's 500 index added 6.95, or 0.52 percent, to 1,333.70, while the Nasdaq composite rose 12.53, or 0.55 percent, to 2,272.81.

Bond prices fell sharply after Ambac's announcement. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.69 percent from 3.63 percent late Tuesday.

The dollar was mixed against other major currencies, while gold prices rose.

Oil surged, rising a remarkable $5 a barrel to a new record over $104 a barrel after the government reported a surprise drop in crude oil stockpiles and OPEC held production levels steady. Light, sweet crude for April delivery jumped $5 to settle at a record $104.52 a barrel on the New York Mercantile Exchange after earlier rising to $104.64.

The plan put forth by Ambac unsettled traders who had hoped the bond insurer would unveil a capital infusion from a sovereign wealth fund or a consortium of banks. Instead, the issuance of new shares was seen as a more passive way of dealing with Ambac's efforts to stay afloat and maintain its top credit ratings.

Shares of Ambac plunged $2.02, or 18.8 percent, to $8.70. The stock, which was up steeply ahead of the announcement, had once traded at about $90 before the credit crisis began to unfold.

Rival MBIA Inc. also fell, down 80 cents, or 6.2 percent, to $12.18. That company also faces pressure to maintain high scores with the three major credit rating agencies.

The Beige Book, which outlines economic conditions in various parts of the country, appeared to unnerve investors after it showed economic growth has slowed since the start of the year. The report, which arrives two weeks before the central bank's next meeting, found that eight of the dozen Fed districts saw "softening or weakening" in the pace of business activity. The others saw "subdued, slow, or modest growth."

"The Beige Book does look weak," said economist Edward Yardeni, who runs his own research firm. "There isn't much to suggest that things are improving."

Earlier in the session, the Institute for Supply Management reported activity in the service sector declined in February, though the decrease wasn't as steep as Wall Street feared. The data was particularly gratifying to investors after a stunning drop in the January service sector index had sent stocks plunging when it was released a month ago.

The service sector findings offset some unease about a Labor Department report that showed labor costs rose at a 2.6 percent annual pace in the fourth quarter. Rising costs often draw concern from investors because the increases can make it harder for the inflation-wary Federal Reserve to justify cutting interest rates to boost the economy.

John Merrill, chief investment officer at Tanglewood Capital Management in Houston, said he is skeptical about a rally given the economic figures arriving since late last year. He also said the market is waiting for any kind of indication that major financial institutions have begun to battle back from credit problems.

"The banks are being hit in so many different directions," he said. "We're seeing ever more ripple effects of the attack on their capital and so it's showing up in places where you would've never dreamed up showing up a month ago," he said, citing concerns about the health of the municipal bond market.

Advancing issues outnumbered decliners by more than 5 to 4 on the New York Stock Exchange, where volume came to 1.62 billion shares.

The Russell 2000 index of smaller companies rose 2.76, or 0.41 percent, to 683.74.

Overseas, Japan's Nikkei stock average closed down 0.16 percent. In afternoon trading, Britain's FTSE 100 rose 1.49 percent, Germany's DAX index rose 2.12 percent, and France's CAC-40 advanced 1.72 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

*S&P 500, Nasdaq Plunge to 52-Week Low*

The NYSE DOW closed LOWER by -214.60 points	-1.75% on Thursday March 6
Sym Last........ ........Change..........
Dow	12,040.39	-214.60	-1.75%
Nasdaq	2,220.50	-52.31	-2.30%
S&P 500	1,304.34	-29.36	-2.20%
30-yr Bond	4.5790%	-0.0260

NYSE Volume	4,264,819,500
Nasdaq Volume	2,218,510,250

*Overseas*
Japan's Nikkei stock average closed up 1.88 percent. Britain's FTSE 100 finished down 1.49 percent, Germany's DAX index declined 1.38 percent, and France's CAC-40 closed down 1.65 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,766.40	-87.10	-1.49%
DAX	6,591.31	-92.40	-1.38%
CAC 40	4,678.05	-78.37	-1.65%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,215.42	+243.36	+1.88%
Hang Seng	23,342.73	+228.39	+0.99%
Straits Times	2,925.62	+14.85	+0.51%

http://biz.yahoo.com/ap/080306/wall_street.html
*Stocks Drop Amid Credit Concerns*
Thursday March 6, 4:49 pm ET
By Joe Bel Bruno, AP Business Writer
*Wall Street Drops on Continuing Worries About Credit Markets, Bleak Reading on Foreclosures*

NEW YORK (AP) -- Stocks tumbled Thursday as the ailing credit market and a spike in home foreclosures intensified the market's worries about a sagging economy. The Dow Jones industrials gave up 214 points.

Concerns about credit grew after Thornburg Mortgage Inc. and a Carlyle Group bond fund revealed troubles with investments backed by mortgages. The entities failed to make margin calls, which are payments to guarantee much larger debt or investments.

And the genesis of the credit concerns that erupted last year -- souring mortgage loans -- dealt investors another blow after the Mortgage Bankers Association reported that home foreclosures rose to record levels in the fourth quarter. Worries about defaults have made lenders hesitant to extend credit, preventing the credit markets from functioning normally.

Wall Street's sense that credit troubles are seeping further into areas of the financial sector once deemed safe weighed on financial stocks and the broader market.

"I think these are near-term, unfortunate events that if they had the luxury of time and capital they could probably weather but unfortunately with this leverage-based system we have, time is a very expensive luxury," Jack Ablin, chief investment officer at Harris Private Bank in Chicago, said in reference to the difficulties at Thornburg and Carlyle.

According to preliminary calculations, the Dow fell 214.60, or 1.75 percent, to 12,040.39 -- almost slipping below the 12,000 level, which it briefly did in January for the first time since November 2006.

Broader indexes also retreated. The Standard & Poor's 500 index fell 29.36, or 2.20 percent, to 1,304.34, and the Nasdaq composite declined 52.31, or 2.30 percent, to 2,220.50.

The Russell 2000 index of smaller companies fell 20.96, or 3.07 percent, to 662.78.

Bond prices jumped as stocks fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, sank to 3.58 percent from 3.69 percent late Wednesday.

"It's an ugly day in a chain of ugly days," said JPMorgan equities analyst Thomas J. Lee. The Dow managed a moderate gain after a volatile session Wednesday, and had fallen in the four previous sessions.

The stock market's performance going forward will rely largely on Friday's employment report. Economists on average are predicting a modest gain in February payrolls, but some anticipate a decline. According to Lee, a bad jobs number could send the stock market lower by confirming investors' fears of a recession, while a good jobs number will probably be met with some skepticism.

Investors are also fretting as they watch the dollar scrape new lows against the euro. The greenback's weakness is a big culprit behind a recent string of new highs for oil prices.

Light, sweet crude rose to a fresh record Thursday after an unexpected decline in U.S. crude supplies and a widely anticipated decision by OPEC not to increase production. Oil shot up 95 cents to settle at a record $105.47 per barrel.

Gold -- regarded as a defensive investment -- slipped Thursday, but remains only about $20 away from the psychological benchmark of $1,000 an ounce.

Bad news about the housing market further dented sentiment. The Mortgage Bankers Association said the proportion of all mortgages nationwide that fell into foreclosure jumped to a record 0.83 percent in the final quarter of 2007. The group also warned that foreclosures are likely to continue to rise as the number of homeowners behind on their mortgage payments has jumped to its highest level since 1985.

The Federal Reserve added more unwelcome housing news in reporting that Americans' debt on their homes exceeds their equity for the first time since the central bank began tracking the figures in 1945. Homeowners' percentage of equity fell to 47.9 percent in the fourth quarter.

Wall Street is worried that Americans distressed about their home values or struggling with mortgage payments will pare their spending. Investors appeared to take an upbeat report from Wal-Mart Stores Inc. as a mixed signal. While Wal-Mart reported stronger-than-expected sales for February, some investors are worried that success at the world's largest retailer reflects increased bargain-hunting by consumers.

Reports from retailers such as J.C. Penney Co. and Limited Brands Inc., the parent of the Victoria's Secret and Bath & Body Works chains, indicated consumers are paring some spending that they don't regard as essential.

Wal-Mart was the only stock among the 30 that comprise the Dow industrials to advance. The shares rose 43 cents to $49.98.

J.C. Penney fell $5.34, or 11.10 percent, to $42.77, while Limited declined 54 cents, or 3.5 percent, to $14.82.

A retrenchment among consumers is an alarming prospect for Wall Street as consumer spending accounts for more than two-thirds of U.S. economic activity.

Investors' fear of becoming ensnared in widening credit troubles weighed on the financial sector. Thornburg plunged $1.75, or 51 percent, to $1.65. Amsterdam-listed Carlyle Capital Corp. Ltd., a bond fund managed by private equity firm Carlyle Group, fell more than 50 percent after saying it received a note of default for missed margin calls.

Other financial stocks retreated. Citigroup Inc. fell to a new nine-year low before closing down 98 cents, or 4.4 percent, to $21.17. Merrill Lynch & Co. declined $3.46, or 7 percent, to $45.86, while Washington Mutual Inc. fell $1.04, or 8.1 percent, to $11.76.

Declining issues outnumbered advancers by nearly 9 to 1 on the New York Stock Exchange, where volume came to 1.62 billion shares.

Overseas, Japan's Nikkei stock average closed up 1.88 percent. Britain's FTSE 100 finished down 1.49 percent, Germany's DAX index declined 1.38 percent, and France's CAC-40 closed down 1.65 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## sam76

[QUOTE The stock market's performance going forward will rely largely on Friday's employment report. Economists on average are predicting a modest gain in February payrolls, but some anticipate a decline. According to Lee, a bad jobs number could send the stock market lower by confirming investors' fears of a recession, while a good jobs number will probably be met with some skepticism.
[/QUOTE]


So I guess either way it will be a dark night on the DOW tonight


----------



## explod

If we close at or below this point then it will be a the lowest Dow close since October 2006.    Next major support around 11,000

cheers


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

*A BIG RED DAY ALL OVER!!*

According to preliminary calculations, the Dow fell 146.70, or 1.22 percent, to 11,893.69. On Thursday, the Dow's 214-point drop came on resurgent concerns about the health of the credit markets. The index has not closed below 11,900 since October 2006, but on Jan. 22 dropped during intraday trading to 11,634.82.

The NYSE DOW closed LOWER by -146.70 points	-1.22% on Friday March 7
Sym Last........ ........Change..........
Dow	11,893.69	-146.70	-1.22%
Nasdaq	2,212.49	-8.01	-0.36%
S&P 500	1,293.37	-10.97	-0.84%
30-yr Bond	4.5410%	-0.0380

NYSE Volume	4,546,704,500
Nasdaq Volume	2,381,749,750

*ASX All Ordinaries: 5,368.9 down 163.0 points on close Friday March 7*

*Overseas*
Japan's Nikkei stock average closed down 3.27 percent after Wall Street's decline. Britain's FTSE 100 closed down 1.15 percent, Germany's DAX index lost 1.17 percent, and France's CAC-40 slid 1.26 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,699.90	-66.50	-1.15%
DAX	6,513.99	-77.32	-1.17%
CAC 40	4,618.96	-59.09	-1.26%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,782.80	-432.62	-3.27%
Hang Seng	22,501.33	-841.40	-3.60%
Straits Times	2,866.28	-51.64	-1.77%

http://biz.yahoo.com/ap/080307/wall_street.html
*Stocks Tumble Following Jobs Report*
Friday March 7, 5:01 pm ET
By Tim Paradis, AP Business Writer
*Stocks Fall Sharply After Weaker-Than-Expected Jobs Report; Fed Moves to Ease Credit Concerns*

NEW YORK (AP) -- Stocks tumbled for a second consecutive session Friday after the government's February jobs report revealed employers slashed payrolls last month, compounding fears that the U.S. economy is succumbing to recession. The Dow Jones industrial average fell 146 points, bringing its two-day slide to 370.

This week's declines in the three major stock indexes to their lowest settlements since 2006 came despite the Federal Reserve's announcement that it would take steps to aid the credit markets.

The Labor Department's report that employers cut jobs by 63,000 last month -- the most since March 2003 -- unnerved investors worried about the health of the economy and who had been expecting a 25,000 gain in jobs. While the unemployment rate fell to 4.8 percent, the decline reflects people leaving the labor force.

The payroll numbers arrived minutes after the Federal Reserve announced it would take fresh steps to ease credit troubles, including boosting the amount of money it will auction to banks.

The central bank said it will increase the size of its March 10 and 24 auctions to banks to $50 billion each. The auctions had been slated for $30 billion apiece and Fed officials said subsequent auctions could be bigger if need be. The Fed also said that it would begin a series of repurchase transactions expected to reach $100 billion.

Craig Peckham, an equity trading strategist at Jefferies & Co., said besides the weak job figures, investors were worried about an apparent lack of effectiveness of the Fed's campaign.

"There is a growing sense that the Fed is trying to pull out all the stops and use all the tools they have but with little net effect," he said. "It just doesn't appear to be the quick-fix that investors had been hoping for. What we've seen is people continuing to press very bearish bets."

According to preliminary calculations, the Dow fell 146.70, or 1.22 percent, to 11,893.69. On Thursday, the Dow's 214-point drop came on resurgent concerns about the health of the credit markets. The index has not closed below 11,900 since October 2006, but on Jan. 22 dropped during intraday trading to 11,634.82.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 10.97, or 0.84 percent, to 1,293.37 -- its lowest settlement since August 2006.

The Nasdaq composite index fell 8.01, or 0.36 percent, to 2,212.49, the lowest the tech-dominated index has finished since September 2006.

Bond prices jumped as investors sought defensive positions amid concerns about the economy. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.55 percent from 3.59 percent late Thursday.

It's been a rough week for Wall Street -- the Dow fell 3.04 percent, the S&P fell 2.80 percent and the Nasdaq fell 2.60 percent.

Wall Street had been eager for a read on the jobs picture. While unemployment remains low by historical standards the increase in unemployment stirred concern among investors worried that it will result in a consumer slowdown. The well-being of the consumer, whose spending accounts for more than two-thirds of economic activity, is key to investors' hopes of avoiding more economic pain amid the ongoing pullback in home values and credit troubles.

Paul Nolte, director of investments at Hinsdale Associates, said the job losses in February weren't surprising.

"The trend for the last year and a half has been either job losses or very small gains. That is what you would expect in a contracting economy and we think the economy has been in a recession for two or three months," he said.

The employment figures came a day after concerns about home foreclosures and credit woes rippled across Wall Street.

The start of the week had been relatively quiet. While investors chewed over a slew of economic data, the major indexes didn't end the first three sessions of the week with huge changes. While the closing numbers belied some of the volatility Wall Street had to contend with in the early part of the week, investors' indecision turned to fear Thursday when credit concerns took on new life.

The week also saw the dollar continue to drop, helping push several commodities to record highs. Many commodities are traded in dollars and so a weak greenback can make their prices rise. Gold, often regarded as a defensive investment, surged to near the psychological benchmark of $1,000 an ounce.

The Fed's plans announced Friday seemed to shore up investor confidence early in the session -- briefly sending stocks higher -- but failed to quell Wall Street's nervousness about the economy.

Steven Lehman, manager of Federated's Market Opportunity Fund, was doubtful of the effectiveness of the Fed's efforts.

"There is a profound lack of understanding of markets and economies, and there is still persistent lingering faith that the authorities effectively have a magic wand they can wave to make everything fine," Lehman said. "Economies and markets do go down -- particularly after a multi-decade credit boom."

The dollar hit a fresh record low against the euro following release of the payroll numbers, while gold prices fell.

Light, sweet crude slipped 32 cents to close at $105.15 per barrel on New York Mercantile Exchange, but only after briefly surpassing $106.

The Russell 2000 index of smaller companies fell 2.67, or 0.40 percent, to 660.11.

Declining issues outnumbered advancers by about 5 to 3 on the New York Stock Exchange, where volume came to 1.70 billion shares.

Overseas, Japan's Nikkei stock average closed down 3.27 percent after Wall Street's decline. Britain's FTSE 100 closed down 1.15 percent, Germany's DAX index lost 1.17 percent, and France's CAC-40 slid 1.26 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

Not looking great with 90 minutes to go!

Gas Prices Near Record; Oil Hits $US108

Sym Last........ ........Change..........
Dow	11,781.43	-112.26	-0.94%
Nasdaq	2,180.27	-32.22	-1.46%
S&P 500	1,277.81	-15.56	-1.20%
30-yr Bond	4.4480%	-0.0930


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed LOWER by -153.54 points -1.29%  on Monday March 10
Sym Last........ ........Change..........
Dow 11,740.15 -153.54 -1.29% 
Nasdaq 2,169.34 -43.15 -1.95% 
S&P 500 1,273.37 -20.00 -1.55% 
10 Yr Bond(%) 3.4380% -0.1030 

ASX All Ordinaries: 5,368.9 down 163.0 points on close Friday March 7

*Overseas*
Most Asian markets sank Monday, some in response to Wall Street's losses last week, with Tokyo's market falling to a 2 1/2-year low. In Tokyo, the Nikkei 225 stock average tumbled 1.96 percent to its lowest point since September 2005.

Hong Kong's market bucked the trend, with a recovery in afternoon trading driven by bargain-hunting and gains at the bank HSBC. The Hang Seng Index rose 0.9 percent.

Stocks slipped on European exchanges. Britain's FTSE 100 fell 1.24 percent, Germany's DAX index fell 1.01 percent, and France's CAC-40 fell 1.13 percent

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,629.10 -70.80 -1.24% 
DAX 6,448.08 -65.91 -1.01% 
CAC 40 4,566.99 -51.97 -1.13% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 12,532.13 -250.67 -1.96% 
Hang Seng 22,705.05 +203.72 +0.91% 
Straits Times 2,836.59 -29.69 -1.04% 

http://biz.yahoo.com/ap/080310/wall_street.html
*Stocks Slide on Mixed News, Surging Oil*
Monday March 10, 5:32 pm ET 
By Madlen Read, AP Business Writer  
*Wall Street Pulls Back As Oil Soars and Investors Sift Through Shaky Corporate News *

NEW YORK (AP) -- Wall Street sank Monday as oil's surge above $108 a barrel and more worrisome signs for the financial sector led investors to extend last week's losses. The Dow Jones industrial average fell more than 150 points, bringing its three-day loss to nearly 515, while broader indexes showed steeper percentage losses 

Wall Street had no bleak economic data to contend with Monday, but instead faced a steady drumbeat of negative news on companies exposed to mortgages.

Mortgage lenders dropped after Thornburg Mortgage Inc. was downgraded by a Jefferies & Co. analyst and Countrywide Financial Corp. was reported to be under investigation by the government for securities fraud.

Then, Bear Stearns Cos. dropped as Moody's Investors Service downgraded a batch of Bear securities backed by Alt-A mortgages, which are home loans given to people lacking proof of income or with minor credit problems.

The slew of downbeat financial news overshadowed a strong February sales report from McDonald's Corp., and led restless investors to proceed cautiously ahead of big economic reports later in the week: Thursday's report on retail sales and Friday's report on consumer prices. Those two readings will give Wall Street a better idea of how much the average American is struggling with falling home values and rising costs, and how aggressively the Federal Reserve will need to act when it meets next week.

"The next three days, there aren't any set, big, market-moving reports," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. "The economic data Thursday and Friday is going to be the last bit of news, the last showing, before seeing what the Fed will do on the 18th."

The Dow Jones industrial average fell 153.54, or 1.29 percent, to finish near the lows of the session at 11,740.15. It was the lowest close for the Dow since October 2006.

Broader stock indicators also retreated. The Standard & Poor's 500 index fell 20.00, or 1.55 percent, to 1,273.37, while the Nasdaq composite index fell 43.15, or 1.95 percent, to 2,169.34.

Government bond prices jumped as stocks weakened. The yield on the 10-year Treasury note, which moves opposite its price, fell to 3.46 percent from 3.54 percent late Friday.

Investors appeared to shrug off an upbeat report from the Commerce Department that said U.S. wholesale inventories rose in January by 0.8 percent, more than expected, and that sales at U.S. wholesalers rose 2.7 percent, their widest jump since March 2004.

Last week, increasing worries about the economy and the continuing fallout from the credit crisis pounded the stock market. The Dow ended down 3.04 percent, the S&P 500 index was off 2.80 percent, and the Nasdaq composite index closed with a loss of 2.60 percent.

Recent record-breaking surges in commodities prices have worried many investors about whether the Federal Reserve might hesitate to lower key rates by as much as they want -- at least a half percentage point. Over the past few months, policy makers have cited the staggering economy as a greater risk than inflation.

On Monday, crude oil soared to finish at a record, rising $2.75 to $107.90 a barrel on the New York Mercantile Exchange after setting a trading record of $108.21 during the session. It was the fifth record set in the last six sessions.

Gold fell, while the dollar traded mixed.

Even if rising commodities costs do not restrain the Fed from lowering rates further, the market remains unsure that rate cuts will be enough to keep the sagging economy out of recession. Of particular concern is the job market -- the Labor Department last Friday said the economy lost 63,000 jobs last month.

Early Monday, JPMorgan analysts slashed their year-end target for the S&P 500 index and earnings for S&P 500 companies, after the bank's chief economist said he believes a recession began in January.

The Russell 2000 index of smaller companies fell 16.14, or 2.45 percent, to 643.97.

Declining issues outnumbered advancers by about 5 to 1 on the New York Stock Exchange, where volume came to 1.61 billion shares compared with 1.70 billion shares traded Friday.

McDonald's, a Dow component, rose $1.53, or 2.9 percent, to $53.80.

Thornburg Mortgage sank $1.08, or 60 percent, to 71 cents, while Countrywide fell 71 cents, or 14 percent, to $4.36.

Bear Stearns fell $7.78, or 11.1 percent, to $62.30 on the Moody's move and also amid market rumors about a liquidity squeeze at the company. Bear Stearns said in a statement there was "absolutely no truth" to the rumors.

Most Asian markets sank Monday, some in response to Wall Street's losses last week, with Tokyo's market falling to a 2 1/2-year low. In Tokyo, the Nikkei 225 stock average tumbled 1.96 percent to its lowest point since September 2005.

Hong Kong's market bucked the trend, with a recovery in afternoon trading driven by bargain-hunting and gains at the bank HSBC. The Hang Seng Index rose 0.9 percent.

Stocks slipped on European exchanges. Britain's FTSE 100 fell 1.24 percent, Germany's DAX index fell 1.01 percent, and France's CAC-40 fell 1.13 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

A Big Green Day for a change!

It was the biggest point jump in the Dow since its 447-point rise on July 29, 2002, and its widest percentage gain since closing up 3.59 percent on March 17, 2003.

The NYSE DOW closed HIGHER by +416.66  points +3.55% on Tuesday March 11
Sym Last........ ........Change..........
Dow 12,156.81 +416.66 +3.55% 
Nasdaq 2,255.76 +86.42 +3.98% 
S&P 500 1,320.65 +47.28 +3.71% 
10 Yr Bond(%) 3.5960% +0.1580 

*Overseas*.
Stocks overseas rebounded. Japan's Nikkei 225 stock average rose 1.01 percent, while Hong Kong's market closed up 1.28 percent higher. Britain's FTSE-100 rose 1.7 percent, Germany was up 2.01 percent, and France added 1.61 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,690.40 +61.30 +1.09% 
DAX 6,524.57 +76.49 +1.19% 
CAC 40 4,627.69 +60.70 +1.33% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 12,658.28 +126.15%
Hang Seng 22,995.35 +290.30 +1.28% 
Straits Times 2,860.85 +24.26 +0.86% 

http://biz.yahoo.com/ap/080311/wall_street.html
*Stocks Shoot Higher on Fed Credit Plan*
Tuesday March 11, 4:59 pm ET 
By Joe Bel Bruno, AP Business Writer  
*Dow Jumps More Than 400 Points After Fed, Other Central Banks Move to Ease Credit Crisis *

NEW YORK (AP) -- Wall Street finally found a reason for a huge rally Tuesday after the Federal Reserve said it plans to pump $200 billion into the financial markets to help ease the strain from the credit crisis. The Dow Jones industrial average shot up more than 416 points, its biggest one-day point gain since July 2002.

The Fed's program is part of a worldwide effort to help struggling banks and mortgage providers. The Fed -- acting in concert with the European Central Bank, the Bank of Canada and the Swiss National Bank -- agreed to loan investment banks money in exchange for debt, including slumping mortgage-backed securities.

The move is meant to essentially create a market for assets that investors have been too scared to buy. That freeze-up in demand had sent asset values plunging and caused huge losses for some of the world's biggest banks.

The decision by the Fed arrives after a series of hefty losses in stocks, noted Anthony Conroy, managing director and head trader for BNY ConvergEx Group. That, along with the unwinding of bets that the market would fall further, may have exaggerated the stock market's rebound. But the market is hopeful the central banks' decision Tuesday might be more effective than previous moves -- like rate cuts, which had elicited initial stock pops but then eventual skepticism about whether they would be enough to keep the economy out of a recession.

"It's not just a rate cut. I think it's a very creative way to do financing," Conroy said. "It shows the Fed is willing to do things that are a little out-of-the-box to shore up credit issues. I really think they went to the heart of the issue."

The latest step was seen as a direct lifeline to investment banks, which previously couldn't borrow in past Fed liquidity plans.

"The big problem has been the financials, and this helps supply money directly to the banks and may take some of the need for aggressive rate cutting off the table," said Peter Dunay, chief investment strategist at Meridian Equity Partners. "The Fed is basically going to take the bad loans off the banks' books, and the market seems to be loving that idea."

The central bank may have avoided dramatically slashing interest rates again when it meets next week. Economists remain concerned about the unrelenting rise in oil prices and the dollar's weakness, which contribute to inflation -- and cutting rates only add to these pressures.

According to preliminary calculations, the Dow rose 416.66, or 3.55 percent, to 12,156.81. The index -- which lost more than 500 points in the last three sessions -- is still down about 2,000 points from its October 2007 record high. It was the biggest point jump in the Dow since its 447-point rise on July 29, 2002, and its widest percentage gain since closing up 3.59 percent on March 17, 2003.
Broader stock indicators also soared. The Standard & Poor's 500 index rose 47.28, or 3.71 percent, to 1,320.65, while the Nasdaq composite index surged 86.42, or 3.98 percent, to 2,255.76.

Government bond prices fell as stocks rallied. The yield on the 10-year Treasury note, which moves opposite its price, spiked to 3.60 percent from 3.46 percent late Monday.

Financial sector stocks, many of which have dipped to multi-year lows in recent days on liquidity concerns, led the market higher Tuesday.

Citigroup Inc. rose $1.42, or 7.2 percent, to $21.11, Washington Mutual Inc. rose $1.72, or 17 percent, to $11.76, and Bank of America Corp. rose $1.33, or 3.8 percent, to $36.64.

Morgan Stanley rose $4.19, or 10.9 percent, to $42.49, Lehman Brothers rose $3.33, or 7.8 percent, to $46.31, and Merrill Lynch rose $2.76, or 6.4 percent, to $45.60.

Bear Stearns Cos. rebounded from losses to rise 67 cents to $62.97, even after an analyst said the No. 5 U.S. investment bank might need to sell itself, or layoff more staff, to stay afloat. The cost to insure Bear Stearns bonds has been spiking to all-time highs. A spokesman for Bear Stearns didn't immediately return telephone calls.

The central bank's plan basically allows Wall Street's biggest institutions to put up troubled assets as collateral for loans, use the new capital to make money in the market, and then pay back the loan up to 28 days later. Though eventually banks would be forced to take the troubled mortgage-backed debt back on their books, the plan still takes short-term pressure off them. Many of these banks will release first-quarter earnings reports next week.

The Fed's announcement overshadowed a report from the Commerce Department that showed the United States' trade deficit grew larger in January. The latest snapshot of the economy showed that the trade gap increased to $58.2 billion -- the highest since November.

The primary reason behind the widening trade deficit is high oil prices. Crude rose as high as $109.72 in premarket trading on the New York Mercantile Exchange before ending at a new settlement record of $108.75. The weak dollar has contributed to oil's rally from $87 a barrel in January.

Gold prices rose, while the dollar edged up against most other major currencies.

The only sector posting major losses Tuesday was healthcare, which has been strong in recent months. WellPoint Inc. fell after Goldman Sachs trimmed its ratings in the managed care sector to neutral from attractive. The investment bank singled out WellPoint's performance amid pricing pressures. The stock plunged $18.66, or 28 percent, to $47.26.

Google Inc. shares spiked after European Union regulators cleared the Internet company's $3.1 billion bid for online ad tracker DoubleClick. Shares of Google rose $26.22, or 6.3 percent, to $439.84.

The Russell 2000 index of smaller companies rose 29.84, or 4.63 percent, to 673.81.

Advancing issues surpassed decliners by more than 5 to 1 on the New York Stock Exchange, where volume came to 1.95 billion shares.

Stocks overseas rebounded. Japan's Nikkei 225 stock average rose 1.01 percent, while Hong Kong's market closed up 1.28 percent higher. Britain's FTSE-100 rose 1.7 percent, Germany was up 2.01 percent, and France added 1.61 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

*Stocks Dip a Day After Huge Rally.  According to preliminary calculations, the Dow fell 46.57, or 0.38 percent, to 12,110.24. It initially dipped, shot up more than 140 points, then dropped again.*

The NYSE DOW closed LOWER by -46.57 points -0.38% on Wednesday March 12
Sym Last........ ........Change..........
Dow 12,110.24 -46.57 -0.38% 
Nasdaq 2,243.87 -11.89 -0.53% 
S&P 500 1,308.77 -11.88 -0.90% 
10 Yr Bond(%) 3.4830% -0.1130 

*Overseas.*
Japan's Nikkei 225 stock average jumped 1.60 percent, while Hong Kong's market closed up 1.86 percent higher. Britain's FTSE 100 finished up 1.51 percent, Germany's DAX index rose 1.15 percent, and France's CAC-40 added 1.50 percent

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,776.40 +86.00 +1.51% 
DAX 6,599.37 +74.80 +1.15% 
CAC 40 4,697.10 +69.41 +1.50% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 12,861.13 +202.85 +1.60% 
Hang Seng 23,422.76 +427.41 +1.86% 
Straits Times 2,917.94 +57.09 +2.00% 

http://biz.yahoo.com/ap/080312/wall_street.html
*Stocks Dip a Day After Huge Rally*
Wednesday March 12, 4:54 pm ET 
By Madlen Read, AP Business Writer  
*Stocks Turn Lower a Day After Fed's Move to Boost Liquidity; Oil Prices Hit New Record *
NEW YORK (AP) -- Wall Street's euphoria over a $200 billion plan from the Federal Reserve turned to caution Wednesday, leading stocks to retreat a day after their biggest rally in more than five years.

Investors largely regard the plan the Fed announced Tuesday to lend Treasurys in exchange for debt tied to mortgages as an innovative means of bringing some relief to the tight credit markets. But they are hesitant to pour more money into stocks without signs that the decision will help turn around the economy -- particularly with data on retail sales and consumer prices scheduled to arrive later this week.

"Does it address the main concern, and that's weaker housing? That has not been resolved just yet," said Steven Goldman, chief market strategist at Weeden & Co. "If we are in the midst of a recession, and only a couple months into the recession, we might need a couple more months to plod our way through this."

After shooting higher Tuesday, most bank stocks declined again Wednesday. Even if the credit markets ease up a bit, banks and other lenders still face a deterioriating climate for consumer credit and many are low on cash.

"We're still in a great deal of flux here. The fact that the Fed has gone from lender of last resort to lender of first resort worries me," said John O'Donoghue, co-head of equities at Cowen & Co.

Volatile energy prices added to the market's anxiety. Oil prices initially fell after the Energy Department said crude and gasoline supplies rose by unexpectedly large amounts last week, but then they returned on their record-setting streak to briefly surpass $110 a barrel. If oil keeps hitting record levels, inflation pressures could rise and limit the Federal Reserve's ability to reduce interest rates further and boost lending efforts to spur the economy.

According to preliminary calculations, the Dow fell 46.57, or 0.38 percent, to 12,110.24. It initially dipped, shot up more than 140 points, then dropped again. On Tuesday, the Dow surged 416 points, the blue chips' biggest one-day point gain since 2002.

Broader stock indicators also finished lower after a seesaw day. The Standard & Poor's 500 index fell 11.88, or 0.90 percent, to 1,308.77, and the Nasdaq composite index fell 11.89, or 0.53 percent, to 2,243.87.

Treasury prices rose as stocks pulled back. The yield on the 10-year Treasury note, which moves opposite its price, fell to 3.44 percent from 3.59 percent late Tuesday.

The dollar fell against most other major currencies, and sank to another record low against the euro. Gold prices rose, while crude finished at a record settlement of $109.92 a barrel on the New York Mercantile Exchange.

Investors are unsure how economic data due out later this week will influence the Fed's decision on interest rates when policy makers meet next Tuesday, but they are angling for another big reduction. Traders who bet on the Fed's rate moves are pricing in a full chance of a half-point cut to 2.5 percent in the key rate and a strong chance of a three-quarter-point cut to 2.25 percent.

Some companies appear to be sailing through the credit crunch with little damage to profits. Caterpillar Inc. advanced $2.74, or 3.7 percent, to $75.35 after it raised its sales forecast for 2010 by 20 percent, exceeding analysts' expectations. Caterpillar is one of the 30 stocks that comprise the Dow industrials.

But now investors are concerned they were too optimistic about the health insurance sector. Health insurers tumbled for a second day in a row after Humana Inc. lowered its 2008 outlook, heightening anxiety about higher-than-expected costs weighing on the industry. Humana sank $6.50, or 13.7 percent, to $40.88.

And the financial sector weakened following a big day on Tuesday. Citigroup Inc. slipped 28 cents to $21.21 after surging about 10 percent on Tuesday; Washington Mutual Inc. fell 24 cents, or 2 percent, to $11.64; Wachovia Corp. fell $1.73, or 5.8 percent, to $28.05; and Wells Fargo & Co. fell $1.28, or 4.2 percent, to $29.54.

Freddie Mac shares finished 12 cents lower at $20.02 even after the chief financial officer of the nation's second-largest U.S. buyer and guarantor of home mortgages said it has adequate capital and will not need to dilute its shares by issuing more stock.

Declining issues outnumbered advancers by about 5 to 3 on the New York Stock Exchange, where volume came to 1.56 billion shares.

The Russell 2000 index of smaller companies fell 6.50, or 0.96 percent, to 667.31.

Overseas, Japan's Nikkei 225 stock average jumped 1.60 percent, while Hong Kong's market closed up 1.86 percent higher. Britain's FTSE 100 finished up 1.51 percent, Germany's DAX index rose 1.15 percent, and France's CAC-40 added 1.50 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## Aussiejeff

Ahh yes. The *One Day Rally* syndrome remains in force, with no apparent end in sight..? Then again, the *end* might come if/when the Fed runs out of interest rate/cash injection options. 


AJ


----------



## ShareIt

want to confirm... is the dow down 115 points in pre trade????


----------



## sam76

ShareIt said:


> want to confirm... is the dow down 115 points in pre trade????




Yep

0417 GMT [Dow Jones] Asian stocks extend falls with U.S. futures weak, in part on news Carlyle Capital expects lenders will seize its assets, causing likely liquidation of fund; Nikkei off 3.4%, Kospi 2.4%, Taiwan 1.6%, STI 2.5%, HSI 3.1%. Nasdaq futures down 1% in screen trade with S&P futures down 0.9%. "Although it has been working diligently with its lenders, the Company has not been able to reach a mutually beneficial agreement to stabilize its financing," fund says; likely collapse is major black eye for Carlyle Group, powerful Washington, D.C.-based private-equity firm whose executives own 15% of fund. Comes just one week after Carlyle Group asked some of world's largest banks to hold off on margin calls and liquidation of mortgage assets; but several lenders began selling fund's $21.7 billion in mortgage securities, which committed as collateral against huge borrowings. Shows how Wall Street's biggest players now playing hardball with some of their best clients, and how jittery banks have become about own loan exposures. Shows too how credit crunch has moved far beyond subprime mortgages; Carlyle Capital's portfolio consisted exclusively of AAA-rated MBS issued by Fannie Mae, Freddie Mac.(RXM)


----------



## ShareIt

Thanks  was a little shocked at first! But then again, we're in a bear market.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER by +35.50 points	+0.29% on Thursday March 13
Sym Last........ ........Change..........
Dow	12,145.74	+35.50	+0.29%
Nasdaq	2,263.61	+19.74	+0.88%
S&P 500	1,315.48	+6.71	+0.51%
30-yr Bond	4.45%	+0.04

NYSE Volume	5,073,354,000
Nasdaq Volume	2,510,425,000

*Overseas.*
Japan's Nikkei 225 index tumbled 3.3 percent to its lowest level in 2 1/2 years. Britain's FTSE 100 fell 1.45 percent, Germany's DAX index slid 1.50 percent, and France's CAC-40 lost 1.42 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,692.40	-84.00	-1.45%
DAX	6,500.56	-98.81	-1.50%
CAC 40	4,630.19	-66.91	-1.42%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,433.44	-427.69	-3.33%
Hang Seng	22,301.64	-1,121.12	-4.79%
Straits Times	2,805.55	-112.39	-3.85%

http://biz.yahoo.com/ap/080313/wall_street.html
*Stocks Rise After S&P Report*
Thursday March 13, 5:47 pm ET
By Madlen Read, AP Business Writer
*Stocks Rebound From Steep Drop As S&P Forecasts End Is Near for Asset Write-Downs*

NEW YORK (AP) -- A fractious Wall Street rebounded from an early plunge to finish moderately higher Thursday, after Standard & Poor's predicted financial companies are nearing the end of the massive asset write-downs that have devastated the stock and credit markets.

The S&P projection gave investors some hope that the seemingly unrelenting losses from the mortage and credit crisis might indeed be bottoming out. Standard & Poor's Ratings Services said it estimates writedowns of subprime asset-backed securities could reach $285 billion globally, up from its previous projection of $265 billion, but added that "the end of write-downs is now in sight for large financial institutions."

"The S&P comment was a positive for the market because investors were relieved to think that the subprime problem may be behind us," said Al Goldman, chief market strategist at A.G. Edwards.

Wall Street clearly remains anxious, however. On Tuesday, the stock market launched its largest rally in more than five years after the Federal Reserve said it would auction $200 billion in Treasurys to help alleviate investment banks' financial bind. But since then, stocks have been extremely volatile.

Kim Caughey, equity research analyst at Fort Pitt Capital Group, said that while she is a market bull, it's possible investors extrapolated a bit too much good news from the S&P report. "I would rather see fewer foreclosures and housing prices bottoming out to decide that the credit crisis is drawing to a close," she said.

The S&P's note arrived on the heels of a spate of troubling news. A Carlyle Group fund warned late Wednesday it expects creditors will seize all the fund's remaining assets after unsuccessful negotiations to prevent its liquidation. Meanwhile, the government reported Thursday an unexpected dip in retail sales, and a research firm said nearly 60 percent more U.S. homes faced foreclosure in February than in the same month last year.

The Dow Jones industrial average finished up 35.50, or 0.29 percent, at 12,145.74, after being down more than 220 points early in the session and then popping up more than 100.

Broader market indexes also recovered from steep early losses. The S&P 500 index rose 6.71, or 0.51 percent, to 1,315.48, while the Nasdaq composite index rose 19.74, or 0.88 percent, at 2,263.61.

Bond prices fell as stocks rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.54 percent from 3.44 percent late Wednesday.

As investors contend with tight credit markets, they also face weakness in the U.S. dollar and soaring commodities prices. The dollar dropped to fresh lows against the euro and fell below 100 yen during Asian trading Thursday, the weakest level for the greenback against the Japanese currency in 12 years. Gold surpassed the psychological benchmark of $1,000 an ounce for the first time, and crude oil briefly passed $111 a barrel.

Light, sweet crude rose 41 cents to settle at a record $110.33 on the New York Mercantile Exchange.

The Fed's Open Markets Committee meets next Tuesday and is widely expected to lower interest rates, with many analysts forecasting a drop of 0.50 percentage point. However, in the past few weeks investors have been questioning whether another rate cut will help the economy.

Talk of regulatory changes for the mortgage industry Thursday were largely shrugged off by the market. Treasury Secretary Henry Paulson outlined a plan to provide stronger oversight of mortgage lenders, whose lax standards are blamed for touching off the concerns about souring debt that have led to turmoil in the credit markets.

The market remains worried about more evidence of weak consumer spending. The Commerce Department reported that retail sales fell 0.6 percent last month, after analysts predicted an increase of 0.2 percent. Friday, the government releases data on consumer prices.

"Things just aren't good for the consumer, and thus, they're not good for Wall Street," Caughey said. And on the corporate side of the coin, no one is positive which companies and which investors are going to end up losing money if more funds collapse. "It is going to be difficult to see who has the Old Maid card. And time will tell," she said.

In other economic news, Labor Department said the number of workers seeking unemployment benefits was unchanged last week. A government report released last week said employers cut payrolls by 63,000 in February -- the second straight month of losses -- and sent a wave of unease across Wall Street.

Advancing issues outnumbered decliners by about 9 to 7 on the New York Stock Exchange, where consolidated volume came to 4.94 billion shares, up from 4.27 billion Wednesday.

The Russell 2000 index of smaller companies rose 12.40, or 1.86 percent, to 679.71.

Overseas, Japan's Nikkei 225 index tumbled 3.3 percent to its lowest level in 2 1/2 years. Britain's FTSE 100 fell 1.45 percent, Germany's DAX index slid 1.50 percent, and France's CAC-40 lost 1.42 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## Aussiejeff

_"A fractious Wall Street rebounded from an early plunge to finish moderately higher Thursday, after *Standard & Poor's predicted financial companies are nearing the end of the massive asset write-downs that have devastated the stock and credit markets"*._

Hmmm. So, how do S&P know this for a fact? Have they offered hard evidence to confirm their outlook? Or is it more a *hunch*?

Hmmmmmm.



AJ


----------



## bigdog

http://biz.yahoo.com/ap/080314/wall_street.html

AP
*Intensifying Credit Fears Swamp Stocks*
Friday March 14, 1:51 pm ET 
By Tim Paradis, AP Business Writer  
*Wall Street Tumbles After Plan to Boost Bear Stearns Liquidity Worsens Credit Fears *

NEW YORK (AP) -- Stocks tumbled Friday as a plan to alleviate a liquidity crisis at Bear Stearns Cos. touched off concerns about the severity of credit troubles. Each of the major indexes lost more than 1 percent; the Dow Jones industrial average gave up 225 points.

In early afternoon trading, the Dow fell 225.67, or 1.86 percent, to 11,920.07 after having fallen as much as 300 points.


----------



## Aussiejeff

bigdog said:


> http://biz.yahoo.com/ap/080314/wall_street.html
> 
> AP
> *Intensifying Credit Fears Swamp Stocks*
> Friday March 14, 1:51 pm ET
> By Tim Paradis, AP Business Writer
> *Wall Street Tumbles After Plan to Boost Bear Stearns Liquidity Worsens Credit Fears *
> 
> NEW YORK (AP) -- Stocks tumbled Friday as a plan to alleviate a liquidity crisis at Bear Stearns Cos. touched off concerns about the severity of credit troubles. Each of the major indexes lost more than 1 percent; the Dow Jones industrial average gave up 225 points.
> 
> In early afternoon trading, the Dow fell 225.67, or 1.86 percent, to 11,920.07 after having fallen as much as 300 points.




Must be lots more bailouts imminent if S&P reckon the end of the *crunch* is nigh.... thank god THEY know whats happening. Don't they??


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The Dow fell 194.65, or 1.60 percent, to 11,951.09. The Dow had been down as much as 313 points.

The Dow Jones industrial average ended the week up 57.40, 0.48 percent, at 11,951.09. The Standard & Poor's 500 index finished down 5.23, or 0.40 percent, at 1,288.14. The Nasdaq composite index ended the week unchanged at 2,212.49.

The NYSE DOW closed LOWER by -194.65  points -1.60% on Friday March 14
Sym Last........ ........Change..........
Dow	11,951.09	-194.65	-1.60%
Nasdaq	2,212.49	-51.12	-2.26%
S&P 500	1,288.14	-27.34	-2.08%
30-yr Bond	4.35%	-0.11

NYSE Volume	5,344,008,500
Nasdaq Volume	2,574,493,500

*Overseas*
Japan's Nikkei stock average finished down 1.54 percent. Britain's FTSE 100 closed down 1.07 percent, Germany's DAX index fell 0.75 percent, and France's CAC-40 lost 0.82 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,631.70	-60.70	-1.07%
DAX	6,451.90	-48.66	-0.75%
CAC 40	4,592.15	-38.04	-0.82%


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,241.60	-191.84	-1.54%
Hang Seng	22,237.11	-64.53	-0.29%
Straits Times	2,839.01	+33.46	+1.19%

http://biz.yahoo.com/ap/080314/wall_street.html
*Stocks Retreat on Credit Fears*
Friday March 14, 6:33 pm ET
By Tim Paradis, AP Business Writer
*Wall Street Tumbles After Plan to Boost Bear Stearns Liquidity Worsens Credit Fears*

NEW YORK (AP) -- Wall Street plunged anew Friday after a near meltdown at Bear Stearns Cos. handed investors the unwelcome confirmation that the credit market's troubles are far from over. Word that the investment bank needed rescuing touched off a wave of selling that left each of the major indexes down more than 1.5 percent on the day; the Dow Jones industrial average fell nearly 200 points.

The plan by the New York Federal Reserve and JPMorgan Chase & Co. offers Bear Stearns relief from a sudden liquidity crunch that analysts surmised could have felled the investment bank. But the company's position on the precipice of financial disaster left many investors shaken and spoiled some hopes that troubles in the moribund credit market are on the mend.

Stocks showed moderate increases in the early going after a Labor Department report showed the Consumer Price Index remained flat for February. Wall Street has been expecting inflation would show an increase. But the gains quickly disappeared after investors learned about the severity of troubles at Bear Stearns.

"This is another chapter in a book rather than a one-act play," said Phil Orlando, chief equity market strategist at Federated Investors. He said the market is worried that further trouble in the credit markets will emerge and that the ramifications of the credit strains and a slowing economy could result in recession.

"Investors thought they are probably more the norm than the exception and maybe this is the tip of the iceberg," he said, referring to Bear Stearns. "Our sense is that this is sort of an amoeba here and this is sort of a broadly spreading situation."

The Dow fell 194.65, or 1.60 percent, to 11,951.09. The Dow had been down as much as 313 points.

Broader stock indicators also declined but pulled off their lows. The Standard & Poor's 500 index fell 27.34, or 2.08 percent, to 1,288.14, and the Nasdaq composite index fell 51.12, or 2.26 percent, to 2,212.49.

For the week, the major indexes were mixed, with the Dow showing a modest gain, the Standard & Poor's 500 index slipping and the Nasdaq composite index finishing exactly where it began.

The Russell 2000 index of smaller companies fell 16.81, or 2.47 percent, to 662.90.

Bond prices jumped as stocks retreated. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.44 percent in late trading from 3.53 percent late Thursday.

Comments from the Fed might have helped corral some of investors' nervousness Friday. The central bank said it voted unanimously to sign off on the arrangement between JPMorgan and Bear Stearns and that it is ready to provide resources to stave off further credit troubles. Fed Chairman Ben Bernanke also said Friday he would do what was possible to aid struggling homeowners.

Still, investors remained nervous. The Chicago Board Options Exchange's volatility index, known as the VIX, and often referred to as the "fear index," jumped 14.2 percent.

Declining issues outnumbered advancers by about 5 to 1 on the New York Stock Exchange, where consolidated volume came to 5.18 billion shares compared with 4.94 billion shares traded Thursday.

"The Bear Stearns news reversed the early positive sentiment from the inflation data," said Peter Cardillo, chief market economist at Avalon Partners. "There had been nervousness about Bear Stearns for some time and now the market's concerns about the company have been proven true."

Friday's pullback comes a day after an anxious stock market rebounded from an early plunge following a Standard & Poor's prediction that financial companies are nearing the end of the massive asset write-downs that have pummeled the stock and credit markets for months. The S&P projection had given investors some hope that the seemingly unrelenting losses from the mortgage and credit crisis could have been bottoming out.

Bear Stearns' woes rekindled investors' nervousness about the troubles in the financial sector. The company's shares skidded $27, or 47 percent, to $30, while JPMorgan fell $1.57, or 4.1 percent, to $36.54.

Other financial names declined as well. Lehman Brothers Holdings Inc. fell $6.73, or 15 percent, to $39.26 and Merrill Lynch & Co. slid $2.75, or 5.9 percent, to $43.51.

Stock market investors Friday were also eyeing the dwindling dollar and events in the soaring commodities market. Gold prices touched another fresh record Friday.

Light, sweet crude, which set a fresh record Thursday, fell 12 cents to $110.21 per barrel on the New York Mercantile Exchange. Oil came close to its record of $111 set Thursday.

The market's fall Friday caps a big week for the markets. On Monday, stocks continued a sell-off from last week, falling more than 1 percent as oil again moved into record territory. Then, on Tuesday, stocks surged after the Fed said it would put up $200 billion to loosen tight credit markets. The Dow surged nearly 417 points, its biggest one-day percentage gain in five years. Stocks posted more modest losses and gains Wednesday and Thursday as investors speculated over how much help the Fed's plan would ultimately provide.

On top of Friday's concerns, Wall Street remains anxious for Tuesday's Fed meeting at which the central bank is still expected to lower interest rates. While Wall Street would welcome cheaper access to cash to help consumers and businesses, the freer flow of money would likely fan inflation concerns and could further weaken the dollar.

Overseas, Japan's Nikkei stock average finished down 1.54 percent. Britain's FTSE 100 closed down 1.07 percent, Germany's DAX index fell 0.75 percent, and France's CAC-40 lost 0.82 percent.

The Dow Jones industrial average ended the week up 57.40, 0.48 percent, at 11,951.09. The Standard & Poor's 500 index finished down 5.23, or 0.40 percent, at 1,288.14. The Nasdaq composite index ended the week unchanged at 2,212.49.

The Russell 2000 index finished the week up 2.79, or 0.42 percent, at 662.90.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 12,992.93, down 59.24 points, or 0.45 percent, for the week. A year ago, the index was at 14,046.10.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com
Chart for Straits Times


----------



## tigerboi

good work big dog.here is the  twiggs charts on the dow,i liked his analysis of the 2nd support test of 12750 & twiggs take on it was sub 12000 here we come,then onto 11250,things are going exactly the way he predicted,if i can find that chart i will post it..tb


----------



## tigerboi

tigerboi said:


> good work big dog.here is the twiggs charts on the dow,i liked his analysis of the 2nd support test of 12750 & twiggs take on it was sub 12000 here we come,then onto 11250,things are going exactly the way he predicted,if i can find that chart i will post it..tb




heres what he said:This week's bull trap on the Dow is a typical example. The market reversed above the former support level of 12000 on news that the Fed would inject $200 billion of additional liquidity into the market. A further intra-day rally was sparked by S&P, who had failed to anticipate the sub-prime crisis, announcing that the worst is now over. Strong volume shows that market heavyweights took the opportunity to reduce their exposure, selling into the rally. Friday saw the trap snap shut, after the Fed stepped in to save Bear Stearns from a classic run on the investment bank (Globe & Mail). 

A long candlestick tail on Friday signals the presence of buyers, but they are likely to be over-whelmed by further selling. Short-term support (at the January intra-day low of 11650) is not expected to hold.


----------



## Aussiejeff

After today's rout on the Aussie & Asian markets, the DJIA futures are currently sitting at -225 pts....


----------



## eric341

Dow is actually creeping up at a rapid pace at the moment!

It is now in positive territory....what is going on :S


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html


The Dow Jones industrials recovered from an initial drop of nearly 200 points to finish up about 21 points. 

The NYSE DOW closed HIGHER by +21.16 points +0.18%  on Monday March 17
Sym Last........ ........Change..........
Dow 11,972.25 +21.16 +0.18% 
Nasdaq 2,177.01 -35.48 -1.60% 
S&P 500 1,276.60 -11.54 -0.90% 
10 Yr Bond(%) 3.3140% -0.1070 

Overseas
Japan's Nikkei stock average fell 3.71 percent, while Hong Kong's Hang Seng index fell 5.18 percent. Britain's FTSE 100 fell 3.86 percent, Germany's DAX index dropped 4.18 percent, and France's CAC-40 lost 3.51 percent.


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,414.40 -217.30 -3.86% 
DAX 6,182.30 -269.60 -4.18% 
CAC 40 4,431.04 -161.11 -3.51% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 11,787.51 -454.09 -3.71% 
Hang Seng 21,084.61 -1,152.50 -5.18% 
Straits Times 2,792.75 -46.26 -1.63% 

http://biz.yahoo.com/ap/080317/wall_street.html
*Stocks Mixed After Bear Stearns Deal*
Monday March 17, 4:54 pm ET 
By Madlen Read, AP Business Writer  
*Wall Street Is Mixed in Seesaw Trading As Markets Digest JPMorgan Chase Buyout of Bear Stearns *

NEW YORK (AP) -- Wall Street ended a temperamental session widely mixed Monday after investors grappled with JPMorgan Chase & Co.'s government-backed buyout of the stricken investment bank Bear Stearns Cos.

The Dow Jones industrials recovered from an initial drop of nearly 200 points to finish up about 21 points. The broader Standard & Poor's 500 and Nasdaq composite indexes ended lower as investors bailed out of investment banks and small-cap stocks and fled instead to large companies apt to be reliable during a weak economy.

"You move to the defensive names in times of market uncertainty -- safer, consumer names," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research.

The buyout of Bear Stearns was certainly more appealing than the alternative: letting the investment bank collapse and causing huge losses for anyone linked to it. And some unprecedented moves by the Federal Reserve gave investors a bit of solace on what many predicted would be a day of precipitous losses in the stock market.

Besides supporting the buyout, the Fed lowered the rate it charges to loan directly to banks by a quarter-point on Sunday night -- two days before its scheduled meeting Tuesday. The central bank also set up a lending option for firms, including many non-bank financial services firms, to secure short-term loans for a broad range of collateral.

The Fed appears to be pledging to do everything in its power to keep the credit crisis from decimating the financial industry and the economy. Policy makers at the central bank are expected to reduce the target fed funds rate -- the rate banks charge each other for overnight loans -- by at least a half-point on Tuesday, and perhaps even a full point.

But the market remained extremely volatile. The sale of Bear Stearns -- at a minuscule $2.21 a share as of Monday's close, or a total of $260.5 million -- stirred fear among investors worldwide about other banks' exposure to the troubled credit markets.

"You're going to have some very weak players pushed out of business," said Joseph V. Battipaglia, chief investment officer at Ryan Beck & Co. He said JPMorgan's buy of Bear Stearns and Bank of America Corp.'s acquisition of mortgage lender Countrywide Financial Corp. are probably not the only rescues the industry will witness during this credit crisis.

The Dow rose 21.16, or 0.18 percent, at 11,972.25, after falling nearly 200 and rising more than 100. The blue chip index was supported partially by JPMorgan, by far the biggest gainer among the 30 component stocks. JPMorgan rose $3.77, or 10.3 percent, to $40.31.

The Standard & Poor's 500 index fell 11.54, or 0.90 percent, to 1,276.60. The Nasdaq composite index, heavily populated by small and high-tech companies, fell 35.48, or 1.60 percent, to 2,177.01. The Russell 2000 index of smaller companies fell 12.42, or 1.87 percent, to 650.48.

Declining issues outnumbered advancers by about 5 to 1 on the New York Stock Exchange, where volume came to 2.00 billion shares.

Bond prices rose as stocks fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.35 percent from 3.44 percent late Friday.

"The market has absolutely no idea what's going on," said Dan Alpert, managing director of Westwood Capital. "Some people have accused them of whistling past the graveyard -- I don't think they even know where the graveyard is."

He added that short-covering -- the unwinding of bets that stocks will fall -- ahead of Tuesday's Fed meeting contributed to the market's atypical movements.

The Dow got a lift as investors aimed for large-cap stocks such as AT&T Inc., up 76 cents at $35.79, Verizon, up 79 cents at $34.61, and pharmaceutical maker Johnson & Johnson, up $1.39 at $64.04.

But the pain for stockholders in Bear Stearns, which succumbed to losing bets on souring mortgages for borrowers with poor credit, will be sizable. JPMorgan is buying Bear, including its midtown Manhattan headquarters, for about 1 percent of the investment bank's worth little more than two weeks ago. Bear Stearns' buyout arrives after a short-term bailout Friday organized by the Fed and involving JPMorgan.

Bear Stearns shares fell 86 percent to $4.10 -- still above the buyout price, implying that some shareholders believe the deal terms might change.

Some investors worry Lehman Brothers Holdings Inc. might be next to fall. Lehman -- the investment bank considered most similar to Bear Stearns -- and other major investment banks are slated this week to report quarterly results.

DBS Group Holdings Ltd., Southeast Asia's largest bank, reportedly instructed traders in an e-mail early Monday not to do business with the bank. According to Dow Jones Newswires, DBS Group later told traders to disregard the earlier e-mail. Lehman denied there were any problems with DBS.

Lehman fell $7.51, or 19 percent, to $31.75.

While investors focused on the financial sector, fresh economic news offered little solace. The Fed said output at the country's factories, mines and utilities fell by 0.5 percent in February, the biggest decline last October. Many analysts had been expecting a slight increase of one-tenth of one percent.

The Commerce Department also said Monday the current account deficit, the broadest measure of foreign trade, fell slightly in 2007 as stronger growth in U.S. exports offset a spiking foreign oil bill.

The dollar sank to a record low against the euro and hit a 12 1/2 year low against the Japanese yen, while gold prices rose to another record high. Crude oil plunged from record levels by $4.53 to settle at $105.68 per barrel on the New York Mercantile Exchange.

Overseas, Japan's Nikkei stock average fell 3.71 percent, while Hong Kong's Hang Seng index fell 5.18 percent. Britain's FTSE 100 fell 3.86 percent, Germany's DAX index dropped 4.18 percent, and France's CAC-40 lost 3.51 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The Dow Jones industrial average soared 420 points, its biggest one-day point gain in more than five years.

The NYSE DOW closed HIGHER by +420.41 points +3.51% on Tuesday March 18

Sym Last........ ........Change..........
Dow 12,392.66 +420.41 +3.51% 
Nasdaq 2,268.26 +91.25 +4.19% 
S&P 500 1,330.74 +54.14 +4.24% 
10 Yr Bond(%) 3.4510% +0.1370 

*Overseas*
Stock markets overseas, which closed before the Fed decision, rebounded Tuesday from sharp drops a day earlier. Japan's Nikkei stock average bounced 1.50 percent, while Hong Kong's Hang Seng index rose 1.4 percent. Britain's FTSE 100 rose 3.12 percent, Germany's DAX index added 3.36 percent, and France's CAC-40 increased 3.18 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,605.80 +191.40 +3.54% 
DAX 6,393.39 +211.09 +3.41% 
CAC 40 4,582.59 +151.55 +3.42% 

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 11,964.16 +176.65 +1.50% 
Hang Seng 21,384.61 +300.00 +1.42% 
Straits Times 2,833.58 +40.83 +1.46% 

http://biz.yahoo.com/ap/080318/wall_street.html
*Stocks Soar, Dow Rises 420 Points*
Tuesday March 18, 5:01 pm ET 
By Madlen Read, AP Business Writer  
*Wall Street Darts Higher After Three-Quarter-Point Rate Cut From Fed, Investment Bank Profits *

NEW YORK (AP) -- Wall Street stormed higher Tuesday as investors, optimistic following stronger-than-expected earnings from two big investment banks, were also galvanized by the Federal Reserve's decision to cut interest rates by three-quarters of a percentage point. The Dow Jones industrial average soared 420 points, its biggest one-day point gain in more than five years.

Many investors were expecting the Fed to cut rates a full point, but appeared to overcome their early disappointment, especially since a 0.75 point cut is still substantial. The central bank's benchmark fed funds rate is now at 2.25 percent -- its lowest level since December 2004, and less than half what it was last summer. The Fed began lowering rates exactly six months ago, after the credit markets seized up due to soaring defaults in subprime mortgages.

In its statement accompanying the rate decision, the Fed said "recent information indicates that the outlook for economic activity has weakened further," but also that "uncertainty about the inflation outlook has increased."

"The Fed once again in the statement showed that it is ready for further action if this were needed," said Christian Menegatti, lead analyst for online economic research firm RGE Monitor. "It also showed the fact that it's still paying attention to inflation ... but that it is far from being the primary concern right now. And the market knows that, and it is happy."

Quarterly results from Lehman Brothers Inc. and Goldman Sachs Group Inc. early Tuesday gave great comfort to a market fearful about investment banks weakening further -- and hurting the rest of the economy -- due to losing bets on mortgage-backed securities. After Sunday's news that the stricken Bear Stearns Cos. was being bought by JPMorgan Chase & Co. at a bargain price of $2 a share, both Lehman and Goldman posted quarterly profits early Tuesday that were significantly lower than they were a year ago, but higher than analysts predicted.

"The overwhelming news this morning was the Lehman and Goldman Sachs earnings," said Jim Herrick, director of equity trading at Baird & Co. "The earnings this morning allayed investors' fears that there's going to be a hard collapse."

Still, while Wall Street's advance was heartening, investors were well aware that over the past six months, stocks have had many bursts higher, only to give them back at the first sign of credit market or economic trouble.

It will take some time before anyone knows whether the market is back on a true upward track, or is just staging another bear market rally. As market watchers will recall, the Dow jumped 416 points just last Wednesday after a $200 billion loan pledge from the Fed. A great deal of those gains evaporated late last week on worries about Bear Stearns.

After the Fed's decision was announced, the Dow first gave back half of its 300-point gain, then shot higher, closing up 420.41, or 3.51 percent, at 12,392.66. The Dow's point gain was the largest point jump for the Dow since a 447-point advance on July 29, 2002.

Broader stock indicators also finished sharply higher. The Standard & Poor's 500 index rose 54.14, or 4.24 percent, at 1,330.74, and the Nasdaq composite index rose 91.25, or 4.19 percent, to 2,268.26.

Bond prices were mixed after the Fed rate cut. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.45 percent from 3.30 percent late Friday.

It was a good sign that short-dated Treasury prices rose while long-dated bonds fell, said Michael Materasso, senior vice president at Franklin Templeton. "What you're seeing is an unwinding of this flight-to-quality that we saw last week," he said, adding that the Fed's cut and statement indicated that it is willing to act further, but "not panicking."

After its last scheduled meeting Jan. 30, the Fed reduced rates by a half-point, pointing to not only stressed financial markets, but also tightening credit for businesses and households; a deepening in the housing contraction; and softening in the labor markets. The central bank repeated these concerns in its statement Tuesday.

Data released Tuesday supported the notion that the economy is sliding while costs are rising. The Commerce Department said home construction fell in February: housing starts fell 0.6 percent, while building permits plummeted 7.8 percent.

Meanwhile, the Labor Department reported a 0.3 percent rise in its Producer Price Index for February, in line with estimates, but the core PPI, which strips out food and energy prices, rose by a greater-than-expected 0.5 percent.

Although the market was clearly upbeat on Tuesday, many on Wall Street have been unsure recently that rate cuts will give the markets and the economy the lift they need; rate cuts usually spur growth, but they also drive down the dollar, which in turn lifts commodities prices. It's likely that the uncertainty will lead to some more pullbacks until investors have a sense that the economy is indeed recovering.

Wall Street certainly remains nervous about the effect of inflation on cash-strapped homeowners. Still, the Fed's language about inflation Tuesday could be oddly comforting to investors, who may be relieved that policymakers weren't so preoccupied with troubles in the credit market as to set aside inflationary concerns.

"They're saying, 'You're healthy enough for me to talk about inflation,' " said Swiss Re senior economist Arun Raha.

Following the Fed's move, the dollar regained ground against some major currencies, while gold prices fell and crude oil surged $3.74 to settle at $109.42 a barrel on the New York Mercantile Exchange.

Advancing issues outnumbered decliners by 9 to 1 on the New York Stock Exchange, where volume came to 1.95 billion shares.

The Russell 2000 index of smaller companies rose 31.45, or 4.83 percent, to 681.93.

Financial stocks were the biggest winners Tuesday. Lehman rose $14.74, or 46 percent, to $46.49; Goldman rose $24.57, or 16 percent, to $175.59; and Bear Stearns rose $1.10, or nearly 23 percent, to $5.91.

Stock markets overseas, which closed before the Fed decision, rebounded Tuesday from sharp drops a day earlier. Japan's Nikkei stock average bounced 1.50 percent, while Hong Kong's Hang Seng index rose 1.4 percent. Britain's FTSE 100 rose 3.12 percent, Germany's DAX index added 3.36 percent, and France's CAC-40 increased 3.18 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

Stocks pulled back sharply Wednesday, erasing most of the previous session's big gains as investors grew concerned about the possibility that banks remain vulnerable to further problems from soured debt. The Dow Jones industrial average fell nearly 300 points after rising 420 on Tuesday.

The NYSE DOW closed LOWER by -293.00 points	-2.36% on Wednesday March 19

Sym Last........ ........Change..........
Dow	12,099.66	-293.00	-2.36%
Nasdaq	2,209.96	-58.30	-2.57%
S&P 500	1,298.42	-32.32	-2.43%
30-yr Bond	4.2220%	-0.1070

NYSE Volume	5,398,959,000
Nasdaq Volume	2,324,563,000

Overseas
Japan's Nikkei stock average increased 2.48 percent, while Hong Kong's Hang Seng index rose 2.26 percent. Britain's FTSE 100 closed down 1.07 percent, Germany's DAX index fell 0.50 percent, and France's CAC-40 declined 0.58 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,545.60	-60.20	-1.07%
DAX	6,361.22	-32.17	-0.50%
CAC 40	4,555.95	-26.64	-0.58%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,260.44	+296.28	+2.48%
Hang Seng	21,866.94	+482.33	+2.26%
Straits Times	2,833.21	-0.37	-0.01%

http://biz.yahoo.com/ap/080319/wall_street.html
*Stocks Decline After Huge Rally*
Wednesday March 19, 5:21 pm ET
By Tim Paradis, AP Business Writer
*Wall Street Pulls Back After Big Rally; Morgan Stanley Beats Estimates, Reassures Investors*

NEW YORK (AP) -- Stocks pulled back sharply Wednesday, erasing most of the previous session's big gains as investors grew concerned about the possibility that banks remain vulnerable to further problems from soured debt. The Dow Jones industrial average fell nearly 300 points after rising 420 on Tuesday.

Some retrenchment was to be expected after the previous day's huge advance. But the decline also reflects investors' continuing uneasiness about the world's financial system and the U.S. economy.

Talk swirled about whether further write-downs are in the offing after Merrill Lynch & Co. filed a lawsuit against a company involved in a debt transaction with the investment bank. Merrill claimed in the litigation that Security Capital Assuance Inc. owed it up to $3.1 billion after backing out of financial transactions.

News that the government plans to free up billions of dollars at Fannie Mae and Freddie Mac, a move that could help struggling homeowners, for a time helped quell some of the market's fears. But it couldn't stave off selling late in the session by investors who have seen big advances evaporate many times during the course of the credit markets crisis and decided to preserve some of their gains.

Investors sent stocks charging higher Tuesday on stronger-than-expected investment bank results and several moves from the Federal Reserve in recent days, including a 0.75 percentage point rate cut aimed at jump-starting the credit markets. The Dow had its second 400-plus point gain in six sessions.

George Shipp, chief investment officer at Scott & Stringfellow, said some investors are still uneasy about the health of the markets. He said back-and-forth days will likely continue as Wall Street tries to feel its way forward.

"Nobody wants to make the first move. There is liquidity on the sidelines. It doesn't really know what to do right now," he said, adding that investors are trying to determine whether moves by the Fed and other regulators to stimulate the economy and stabilize the markets will take hold.

"Clearly there is fear. I would say the needle is pointing more toward fear than greed right now," he said.

The Dow fell 293.00, or 2.36 percent, to 12,099.66. Broader stock indicators also declined. The Standard & Poor's 500 index fell 32.32, or 2.43 percent, to 1,298.42, and the Nasdaq composite index fell 58.30, or 2.57 percent, to 2,209.96.

Bond prices jumped as investors again looked for safety. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.34 percent from 3.50 percent late Tuesday. The dollar was mixed against other major currencies, while gold prices fell sharply.

Light, sweet crude fell $4.94 to settle at $104.48 per barrel on the New York Mercantile Exchange after government figures suggested the high price of oil and gasoline are damping demand for petroleum products.

The concerns over the soundness of the financial system and the economy overshadowed upbeat results from Morgan Stanley, whose earnings indicated that the bank is relatively healthy like Lehman Brothers Holdings Inc. and Goldman Sachs & Co. Investors have been nervous in recent days about even big banks after JPMorgan Chase & Co. struck a deal Sunday to acquire Bear Stearns, which was on the verge of succumbing to credit troubles.

Morgan Stanley rose 59 cents Wednesday to $43.45. Lehman fell $4.26, or 9.2 percent, to $42.23, while Goldman declined $9.10, or 5.2 percent, to $166.49.

Investors' relief over Morgan Stanley follows better than expected earnings news from Lehman and Goldman on Tuesday that gave the Dow its biggest point gain in more than five years. The Dow got an extra boost after the Fed's rate cut.

The Office of Federal Housing Enterprise Oversight, which oversees government-backed Fannie and Freddie, said the changes should result in an immediate infusion of up to $200 billion into the market for mortgage-backed securities. This could mean greater demand for mortgages -- an aid for struggling homeowners hoping to refinance at more favorable terms.

Investors were upbeat about the moves at the mortgage companies. Fannie jumped $2.49, or 8.8 percent, to $30.71, while Freddie rose $3.88, or 15 percent, to $29.90.

The Fed has slashed key rates by more than half since last summer, when the mortgage crisis claimed its grip on the global credit markets. But the housing and lending industries are still hurting.

Jeff Lancaster, a principal at Bingham, Osborn & Scarborough in San Francisco, said investors are grappling with a host of fears that tend to routinely reassert themselves, condemning recent rallies to being short-lived.

"It just seems like there is the classic pendulum swing between fear and greed and the fear, for the most part, is predominant."

He said investors are at times worried "that at some level maybe we haven't seen anything yet" and that troubles with banks could spread to consumers who might want to curtail their spending because of further declines in home values.

At the same time, he sees some bursts of optimism.

"There is the sense that the Fed is riding to the rescue and is going to engineer a kind of soft landing."

Late Tuesday, Visa Inc. launched the largest initial public offering in U.S. history, selling 406 million shares at $44 apiece to raise $17.9 billion. The world's largest credit card processor is not a lender, and many investors are betting that it will easily survive the faltering U.S. economy and credit climate. The stock traded up $12.50, or 28 percent, at $56.50.

Declining issues outpaced advancers by more than 2 to 1 on the New York Stock Exchange, where volume came to 1.97 billion shares compared with 1.95 billion shares traded Tuesday.

The Russell 2000 index of smaller companies fell 17.80, or 2.61 percent, to 664.13.

Overseas, Japan's Nikkei stock average increased 2.48 percent, while Hong Kong's Hang Seng index rose 2.26 percent. Britain's FTSE 100 closed down 1.07 percent, Germany's DAX index fell 0.50 percent, and France's CAC-40 declined 0.58 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

Though the week was a shortened one for Wall Street, the volatility packed into four days made it feel much longer. Thursday's gains came a day after a steep drop that eroded most of a 420-point gain in the Dow on Tuesday -- the biggest in more than five years -- following the Fed's decision to lower its benchmark interest rate by 0.75 percentage point to 2.25 percent.

The NYSE DOW closed HIGHER by +261.66 points	+2.16% on Thursday March 20

Sym Last........ ........Change..........
Dow	12,361.32	+261.66	+2.16%
Nasdaq	2,258.11	+48.15	+2.18%
S&P 500	1,329.51	+31.09	+2.39%
30-yr Bond	4.1650%	-0.0570

NYSE Volume	6,317,300,000
Nasdaq Volume	2,802,103,000

*Overseas*
Stock markets overseas were mostly lower. 

Hong Kong's Hang Seng Index fell 3.5 percent, but the Shanghai Composite Index closed 1.1 percent higher after an early plunge. Britain's FTSE 100 closed down 0.91 percent, Germany's DAX index lost 0.65 percent, and France's CAC-40 0.49 percent.


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,495.20	-50.40	-0.91%
DAX	6,319.99	-41.23	-0.65%
CAC 40	4,533.72	-22.23	-0.49%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,260.44	0.00	0.00% closed March 20!
Hang Seng	21,108.22	-758.72	-3.47%
Straits Times	2,824.91	-8.30	-0.29%

http://biz.yahoo.com/ap/080320/wall_street.html
*Stocks Cap Volatile Week With Big Gains*
Thursday March 20, 5:31 pm ET
By Tim Paradis, AP Business Writer
*Stocks Rebound From Sharp Sell-Off; Philadelphia-Area Manufacturing Reading Boosts Confidence*

NEW YORK (AP) -- Wall Street capped a week of remarkable volatility with a big advance Thursday that left stocks higher for the week but didn't silence all of investors' concerns about the economy and the financial system.

Bargain-hunting and a milder-than-expected drop in a regional manufacturing report helped leaven stocks Thursday. The Dow Jones industrial average rose about 260 points on the day, giving the blue chips a gain of more than 3 percent for the week. Broader indexes finished the week with gains of 2 percent to 3 percent. The markets are closed for Good Friday.

A week that opened with fearful questions over the soundness of the financial system following the near collapse of Bear Stearns Cos. ended on a more upbeat note, thanks in part to the Federal Reserve's efforts to inject both liquidity and calm into the markets.

The central bank not only again deployed its primary tool for stimulating economic activity -- an interest rate cut -- but also took several steps aimed at oiling the troubled credit markets, making it easier for banks to breathe. Policymakers said they would loan directly to investment banks and accept as collateral much of the now-shunned debt that is backed by mortgages. A spike in defaults on home loans has made many financial players hesitant to extend credit.

But while many investors praised the Fed's unusual steps -- including the deal it brokered for JPMorgan Chase & Co. to buy a liquidity-starved Bear Stearns for a fraction of its value only a week ago -- many on Wall Street still hung onto some misgivings about the banking system and the economy.

Economic readings Thursday exemplified the mixed signals investors are receiving. The Labor Department said the number of newly laid off workers filing for unemployment benefits rose last week by a more-than-anticipated 22,000 to 378,000. That level is the highest in nearly two months. Meanwhile, the Conference Board said its index of leading economic indicators fell, as expected, for the fifth straight month in February.

But Wall Street found reason to buy back into stocks when the Philadelphia Fed said manufacturing activity is dropping in March by less than it did in February, and by less than many economists anticipated.

And another day of sharp declines in commodities prices gave investors some hope that lower energy and food prices might boost consumers' discretionary spending and ease inflation concerns. Crude oil fell, while gold prices declined sharply.

Still, the markets are apt to stay volatile for some time, as investors digest news on the economy and the troubled financial sector.

"It's the every-other-day theory -- up one day, and down the next," said Scott Brown, chief economist at Raymond James & Associates.

The Dow on Thursday rose 261.66, or 2.16 percent, to 12,361.32.

Broader stock indicators also advanced. The Standard & Poor's 500 index rose 31.09, or 2.39 percent, to 1,329.51, and the Nasdaq composite index rose 48.15, or 2.18 percent, to 2,258.11.

Though the week was a shortened one for Wall Street, the volatility packed into four days made it feel much longer. Thursday's gains came a day after a steep drop that eroded most of a 420-point gain in the Dow on Tuesday -- the biggest in more than five years -- following the Fed's decision to lower its benchmark interest rate by 0.75 percentage point to 2.25 percent.

Bond prices rose Thursday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.34 percent from 3.41 percent late Wednesday.

Light, sweet crude fell 70 cents to settle at $101.84 on the New York Mercantile Exchange. Gold fell $33, or 3.5 percent, to $912.3 an ounce, while the dollar was mixed against other major currencies.

Todd Salamone, director of trading for Schaeffer's Investment Research in Cincinnati, said investors appeared somewhat optimistic.

"There's some belief out there that the worst is behind us, but that's not necessarily written in stone," he said. "You're getting a strong bid in financials and housing stocks -- sectors that have been the cause for the jitters."

Shares in energy and metals companies were mixed Thursday. ConocoPhillips rose $1.22 to $74.83; Barrick Gold Corp. fell $3.25, or 7.2 percent, to $42; and Newmont Mining Corp. fell $2.75, or 5.6 percent, to $45.97.

Investors faced fresh concerns about tightness in the credit markets. CIT Group Inc. fell $2.01, or 17 percent, to $9.63 after the financial-services company said it is tapping into its $7.3 billion in credit lines to repay debt and finance its commercial lending business. The company says it cannot obtain financing from other sources.

Punk, Ziegel & Co. analyst Richard Bove wrote in a research note Thursday that the financial sector's worst problems were over.

Among financials, Morgan Stanley rose $6.22, or 14 percent, to $49.67, while Citigroup Inc. rose $2.09, or 10 percent, to $22.50.

The Russell 2000 index of smaller companies rose 17.29, or 2.60 percent, to 681.42.

Advancing issues outnumbered decliners by about 3 to 1 on the New York Stock Exchange, where volume came to a heavy 2.77 billion shares compared with 1.97 billion shares traded Wednesday.

Stock markets overseas were mostly lower. Hong Kong's Hang Seng Index fell 3.5 percent, but the Shanghai Composite Index closed 1.1 percent higher after an early plunge. Britain's FTSE 100 closed down 0.91 percent, Germany's DAX index lost 0.65 percent, and France's CAC-40 0.49 percent.

Japan's markets were closed for a national holiday.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The NYSE will be trading tonight (Monday March 24)

http://www.nyse.com/about/newsevents/1176373643795.html

2008 US NYSE holidays
New Year's Day 	  January 1   

Martin Luther King, Jr. Day  January 21   

Washington's Birthday/Presidents' Day*   February 18*

  Good Friday   March 21

  Memorial Day   May 26

  Independence Day”    July 4” 

  Labor Day   September 1

  Thanksgiving Day”    November 27” 

  Christmas”    December 25”


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

*The NYSE DOW has risen 448.98 points since the ASX close on Thursday March 20
+261.66 points +2.16% on Thursday March 20
+187.32 points	+1.52% on Monday March 24*

The NYSE DOW closed HIGHER by +187.32 points	+1.52% on Monday March 24

Sym Last........ ........Change..........
Dow	12,548.64	+187.32	+1.52%
Nasdaq	2,326.75	+68.64	+3.04%
S&P 500	1,349.88	+20.37	+1.53%
30-yr Bond	4.3120%	+0.1470

NYSE Volume	4,442,743,000
Nasdaq Volume	2,317,015,750

*Overseas*
Japan's Nikkei stock average closed down 0.02 percent. Markets in Europe and in Hong Kong were closed for Easter Monday.

*Europe*
Symbol... Last...... .....Change.......
Markets in Europe were closed for Easter Monday.

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,480.09	-2.48	-0.02%
Hang Seng	21,108.22	closed for Easter Monday
Straits Times	2,927.79	+102.88	+3.64%

http://biz.yahoo.com/ap/080324/wall_street.html
*Stocks Jump on Revised Bear Stearns Deal*
Monday March 24, 5:27 pm ET
By Tim Paradis, AP Business Writer
*Stocks Jump As JPMorgan Ups Bid for Bear Stearns, Existing Home Sales Show Surprise Gain*

NEW YORK (AP) -- Wall Street extended its big advance Monday as investors applauded a new agreement that will give Bear Stearns Cos. shareholders five times the payout that was set in a JPMorgan Chase & Co. buyout deal a week ago. Investors were also pleased by a stronger-than-expected housing report, and sent the Dow Jones industrial average up nearly 190 points while also selling bonds sharply lower.

JPMorgan boosted investors' optimism by lifting its offer for Bear Stearns to $10 per share from $2. The revised plan is aimed at soothing Bear Stearns shareholders upset over JPMorgan's earlier offer, which was made at the behest of the Federal Reserve when Bear Stearns was near collapse.

Bear Stearns shares jumped $3.42, or 57 percent, to $9.38, while JPMorgan rose 58 cents to $46.55.

Beyond the troubles of the financials, Wall Street was examining the housing sector -- the root of much of investors' angst. A real estate trade group said sales of existing homes rose rather than declined in February, as had been expected.

The Fed's move and even the housing figures appeared to alleviate some of Wall Street's concerns about souring mortgage debt and lenders' resulting hesitance to grant loans of any sort. The latest Bear Stearns deal signals that investors' losses might not be as sizable as feared.

"The reason we've rallied the last three or four days is people are saying 'Hey, even if this paper is worth less than people think, the Fed is willing come in and buy it at some level,'" said Charlie Smith, chief investment officer at Fort Pitt Capital Group in Pittsburgh.

The Dow rose 187.32, or 1.52 percent, to 12,548.64, after rising more than 260 points on Thursday, the last day of trading before the Easter weekend.

Broader stock indicators also advanced. The Standard & Poor's 500 index rose 20.37, or 1.53 percent, to 1,349.88, and the Nasdaq composite index rose 68.64, or 3.04 percent, to 2,326.75.

The Russell 2000 index of smaller companies rose 19.86, or 2.91 percent, to 701.28.

Monday's gains followed a volatile but ultimately strong week for the markets. The Dow and the S&P each showed gains of more than 3 percent for the week, while the Nasdaq advanced more than 2 percent.

Bond prices fell sharply as investors felt less of a need for the safety of government bonds, and also rushed to join the stock market rally. The yield on the benchmark 10-year Treasury note, which moves opposite its price, shot up to 3.53 percent from 3.34 percent late Thursday, a huge advance that reflected the shift in market sentiment. The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude fell 98 cents to settle at $100.86 per barrel on the New York Mercantile Exchange.

The housing sector, which has offered a steady drumbeat of mostly negative news in recent months, gave investors a welcome lift. The National Association of Realtors said sales of existing homes rose by 2.9 percent in February to a seasonally adjusted annual rate of 5.03 million units. It was the biggest increase in a year and Wall Street had expected a slight decline. Still, the median home price fell by the largest amount on record.

Smith said further readings on the housing sector, including a report on home prices due Tuesday, could help determine whether Wall Street's enthusiasm will continue or prove short-lived. Further weakness in housing, he said, could mean banks will continue to struggle with a locked-up credit market.

Still, the Fed's move to broker the Bear Stearns buyout has allowed investors the sense that not all the debt guaranteed by mortgages is "nuclear waste." It will be some time before Wall Street knows whether the write-downs on mortgages already taken will be sufficient.

"The fact that the Fed is willing to come in and buy it at some level makes people think 'OK, it's not zero,'" Smith said, referring to the troubled debt.

Denis Amato, chief investment officer at Ancora Advisors in Cleveland, is skeptical that Wall Street might have put its troubles behind it with the Bear Stearns deal. He said the Fed's extraordinary steps a week ago to lend aid to the struggling investment banks and accept as collateral much of the now-shunned debt was helping the market, but that investors will likely face further concerns.

"I just can't remember in my career having an instance where you know within a week what the watershed event was. Now we all know and that makes me a little bit nervous," he said of those conjecturing that the Bear Stearns deal marks the stock market's bottom.

"I'm not sure that the fundamental economics are still turned enough and that we went down enough in a lot of cases to have this be the real bottom. It may be the one of many bottoms."

Beyond the banks and housing, a report from Tiffany & Co. helped assuage some concerns about the health of high-end consumers. The jeweler said loans it made to a diamond company weighed on its fourth-quarter profit, but that earnings excluding items were in line with Wall Street's expectations. Tiffany jumped $4.05, or 10.5 percent, to $42.65.

Advancing issues outnumbered decliners by about 4 to 1 on the New York Stock Exchange, where volume came to 1.57 billion shares.

Overseas, Japan's Nikkei stock average closed down 0.02 percent. Markets in Europe and in Hong Kong were closed for Easter Monday.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

*Wall Street Manages to Close Mostly Higher Even After Disappointing Consumer Confidence News*

The NYSE DOW closed LOWER by -16.04 points	-0.13% on Tuesday March 25

Sym Last........ ........Change..........
Dow	12,532.60	-16.04	-0.13%
Nasdaq	2,341.05	+14.30	+0.61%
S&P 500	1,352.99	+3.11	+0.23%
30-yr Bond	4.2990%	-0.0130

NYSE Volume	4,071,865,000
Nasdaq Volume	2,099,064,750

*Overseas*
Investors overseas remained upbeat following the U.S. rallies Monday and last week. Japan's Nikkei stock average finished up 2.12 percent. Britain's FTSE 100 fell 0.91 percent, Germany's DAX index rose 3.24 percent, and France's CAC-40 rose 3.49 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,689.10	+193.90	+3.53%
DAX	6,524.71	+204.72	+3.24%
CAC 40	4,692.00	+158.28	+3.49%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,745.22	0.00	+2.12%
Hang Seng	22,464.52	+1,356.30	+6.43%
Straits Times	3,000.19	+72.40	+2.47%

http://biz.yahoo.com/ap/080325/wall_street.html
*Stocks Pause After Big Two-Day Rally*
Tuesday March 25, 4:51 pm ET
By Joe Bel Bruno, AP Business Writer
*Wall Street Manages to Close Mostly Higher Even After Disappointing Consumer Confidence News*

NEW YORK (AP) -- Wall Street paused after a huge two-session rally Tuesday but still managed to hold on to almost all its gains even after disappointing reports on consumer sentiment and the housing market.

Stocks pulled past profit-taking that was due in part to the Conference Board's report that consumer confidence sank to a five-year low in March. The index has been weakening since July, and is closely watched to determine the future of consumer spending, perhaps the most critical part of the economy.

Meanwhile, the Standard & Poor's/Case-Shiller home price index indicated that U.S. home prices fell 11.4 percent in January, the steepest drop since data was first collected in 1987. The latest decline means prices have been growing more slowly or dropping for 19 consecutive months.

Volume was light as many investors held off any big moves while the market sought a direction -- trading remained uneasy amid the ongoing uncertainty about the economy and credit markets. Still, the fact that the market didn't suffer a huge pullback, which has been its pattern for months after a big gain, indicated that at least for the time being, Wall Street seems more capable of handling bad news.

Stocks had charged higher in the days following the Federal Reserve's decision to aid investment banks and orchestrate a buyout deal for a near-collapsed Bear Stearns Cos. The Dow Jones industrials shot up nearly 450 points in the previous two sessions.

"There is a lot of cash on the sidelines right now, and they're really waiting to see if there's another shoe to drop," said Todd Leone, managing director of equity trading at Cowen & Co. "Bear Stearns has taken a lot of fear out of the market, and the Fed is doing what it can for the credit crunch, but I think there's still uncertainty."

According to preliminary calculations, the Dow fell 16.04, or 0.13 percent, to 12,532.60.

The Dow was actually the laggard in Tuesday's session -- the broader Standard & Poor's 500 and Nasdaq composite indexes had more robust gains. The S&P rose 3.11, or 0.23 percent, to 1,352.99; the Nasdaq added 14.30, or 0.61 percent, to 2,341.05.

Advancing issues led decliners by 2 to 1 on the New York Stock Exchange, where volume came to 1.47 billion shares.

Bond prices rose, regaining ground after a huge decline on Monday that accompanied the rally on Wall Steeet. The yield on the benchmark 10-year Treasury note fell to 3.49 percent from late Monday's 3.55 percent.

The dollar was down against other major currencies, while gold prices rose.

Oil futures wobbled, with some investors selling on new worries about the economy and buying in response to the dollar's latest decline. Light, sweet crude rose 36 cents to settle at $101.22 a barrel on the New York Mercantile Exchange.

Though many on Wall Street expected the latest batch of economic data to be negative -- and that might have helped investors shake off the bad news -- there continues to be lingering concerns about consumer spending. The mood on Main Street is key as consumer spending makes up about 70 percent of economic activity.

Investors worry that consumers uneasy about the economy and their financial well-being are more likely to pare their spending. That was evident as the Conference Board said its Consumer Confidence Index plunged to 64.5 in March from a revised 76.4 in February.

The reading -- a five-year low -- was far below the 73.0 expected by analysts surveyed by Thomson/IFR.

"What is troubling is that consumer confidence took a plunge, and I think we're going to see consumer spending weaken as we go forward," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners.

Meanwhile, Standard & Poor's/Case-Shiller index showed U.S. home prices declined 11.4 percent in January from a year earlier.

In corporate news, Monsanto Co. shares jumped almost 10 percent after the agricultural products company said earnings per share for the second quarter and for all of fiscal 2008 will be stronger than originally projected. Shares rose $10.29, or 9.9 percent, to $114.54, and also helped boost others in the sector.

JPMorgan Chase & Co. shares fell 49 cents to $46.06 after a securities analyst said the bank will end up paying about $65 per share for Bear Stearns. That amount, which includes costs to bring the two companies together, was labeled too high a price for a "deeply troubled company," the Punk, Ziegel & Co. analyst said.

Bear Stearns fell 31 cents, or 2.8 percent, to $10.94 -- above the $10 per share buyout price being offered by JPMorgan. There has been some speculation in the market that a higher offer might come before the deal closes.

Yahoo Inc. rose $1.21, or 4.4 percent, to $28.73 on speculation Microsoft Inc. will raise its takeover price for the Internet company beyond $31 per share. Microsoft fell 3 cents to $29.14.

The Russell 2000 index of smaller companies rose 3.99, or 0.57 percent, to 705.27.

Investors overseas remained upbeat following the U.S. rallies Monday and last week. Japan's Nikkei stock average finished up 2.12 percent. Britain's FTSE 100 fell 0.91 percent, Germany's DAX index rose 3.24 percent, and France's CAC-40 rose 3.49 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed LOWER by -109.74 points -0.88% on Wednesday March 26

*The Dow fell 109.74, or 0.88 percent, to 12,422.86, after sinking as many as 155 points during trading.*

Sym Last........ ........Change..........
Dow 12,422.86 -109.74 -0.88% 
Nasdaq 2,324.36 -16.69 -0.71% 
S&P 500 1,341.13 -11.86 -0.88% 
10 Yr Bond(%) 3.4940% +0.0020 

*Overseas*
Japan's Nikkei stock average fell 0.30 percent. Britain's FTSE 100 fell 0.50 percent, Germany's DAX index fell 0.54 percent, and France's CAC-40 fell 0.33 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,660.40 -28.70 -0.50% 
DAX 6,489.26 -35.45 -0.54% 
CAC 40 4,676.68 -15.32 -0.33% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 12,706.63 -38.59 -0.30% 
Hang Seng 22,617.01 +152.49 +0.68% 
Straits Times 2,995.22 -4.97 -0.17% 

http://biz.yahoo.com/ap/080326/wall_street.html
*Stocks Decline on Weak Economic Data*
Wednesday March 26, 5:06 pm ET 
By Madlen Read, AP Business Writer  
*Stocks Retreat on Weaker-Than-Expected Report Showing Drop in Orders of Big-Ticket Items *

NEW YORK (AP) -- Wall Street pulled back Wednesday after a drop in February's durable goods orders injected more pessimism about the economy into the stock market. The Dow Jones industrial average fell nearly 110 points.

Investors who have been worried about the financial health of U.S. companies and individuals were disappointed to see a 1.7 percent dip in last month's orders of durable goods, or big-ticket items that range from refrigerators to cars to computers. The Commerce Department's durable goods report is indicative of business spending and consumer demand, so two straight months of declines were worrisome to Wall Street.

Meanwhile, investors found another reason to be cautious after the Commerce Department said sales of new homes slumped in February. The 1.8 percent decline was a bit narrower than economists surveyed by Thomson Financial/IFR had anticipated, but it still dragged down sales for the fourth consecutive month to a 13-year low.

Considering that the Dow has added more than 425 points in the past three sessions, a pullback does not come as a surprise. But the question for Wall Street now is whether economic data later this week on jobless claims, gross domestic product and personal spending will further erode or rekindle the market's recent rally.

"I think the market has done a decent job of trying to find a bottom in the last few days, and that's certainly an encouraging sign," said David Joy, chief market strategist at Ameriprise Financial Inc.'s RiverSource Investments. "But I don't think there is by any means a general re-emergence of confidence in this market."

The Federal Reserve has lowered interest rates, loosened its lending practices and helped prevent a total collapse of Bear Stearns Cos. But the broader economy continues to struggle with tumbling home prices and rising commodity costs; crude oil, for one, surged back above $105 a barrel on Wednesday.

The Dow fell 109.74, or 0.88 percent, to 12,422.86, after sinking as many as 155 points during trading.

Broader stock indicators also retreated. The Standard & Poor's 500 index fell 11.86, or 0.88 percent, to 1,341.13, while the Nasdaq composite index fell 16.69, or 0.71 percent, to 2,324.36.

Government bond prices rose as stocks fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.49 percent from 3.51 percent late Tuesday. The dollar was mixed against other major currencies, while gold prices rose.

Oil prices soared after the Energy Department said the nation's inventory of crude oil, gasoline and distillate fuels was lower than expected last week. Light, sweet crude shot up $4.68 to finish at $105.90 a barrel on the New York Mercantile Exchange, back toward their record of nearly $112 a barrel.

Financial stocks fell after Treasury Secretary Henry Paulson said the government should impose more regulation on the nation's investment banks. In a speech to the U.S. Chamber of Commerce, Paulson said the Bush administration will soon release a plan to promote a smoother functioning of financial markets.

The financial sector also dragged on the market after Oppenheimer & Co. analyst Meredith Whitney lowered her first-quarter profit forecasts for the nation's top four commercial banks. Citigroup Inc., the nation's largest bank by assets, fell $1.37, or 5.9 percent, to $22.05.

Other banks in the Dow dropped as well. Bank of America Corp. fell $1.13, or 2.8 percent, to $39.84, while JPMorgan Chase & Co. fell $1.95, or 4.2 percent, to $44.11.

In a sign of how bank woes are affecting companies outside the financial industry, private equity firms leading a $19.5 billion buyout of Clear Channel Communications Inc. were struggling to reach terms with the banks committed to financing the deal, according to The Wall Street Journal. The report said the deal was close to collapse.

Clear Channel fell $5.70, or nearly 17.5 percent, to $26.86.

Meanwhile, electronic parts manufacturer Jabil Circuit Inc. posted a fiscal second-quarter loss and warned its third-quarter results will fall short of Wall Street's expectations. The disappointing results caused shares to plunge $2.06, or 18.1 percent, to $9.32.

The Russell 2000 index of smaller companies fell 3.16, or 0.45 percent, to 702.11.

Declining issues led advancers by 5 to 3 on the New York Stock Exchange, where volume came to 1.43 billion shares.

"Part of the reason we're down is the negative data on the heels of fresh optimism, and a combination of that typically leads to selling," said Todd Salamone, director of trading at Schaeffer's Investment Research. "There is also some window dressing going on with the quarter winding down, and we also have earnings reports coming in just a few weeks."

Overseas, Japan's Nikkei stock average fell 0.30 percent. Britain's FTSE 100 fell 0.50 percent, Germany's DAX index fell 0.54 percent, and France's CAC-40 fell 0.33 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed LOWER by -120.40 points -0.97% on Thursday March 27

For the second straight session, the Dow Jones industrial average fell more than 100 points.

Sym Last........ ........Change..........
Dow 12,302.46 -120.40 -0.97% 
Nasdaq 2,280.83 -43.53 -1.87% 
S&P 500 1,325.66 -15.47 -1.15% 
10 Yr Bond(%) 3.5340% +0.0400 

*Overseas*
Japan's Nikkei stock average closed down 0.80 percent. Britain's FTSE 100 rose 1.01 percent, Germany's DAX index advanced 1.37 percent, and France's CAC-40 rose 0.92 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,717.50 +57.10 +1.01% 
DAX 6,578.06 +88.80 +1.37% 
CAC 40 4,719.53 +42.85 +0.92% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 12,604.58 -102.05 -0.80% 
Hang Seng 22,664.22 +47.21 +0.21% 
Straits Times 3,344.53 +3,344.53 +1.00% 

http://biz.yahoo.com/ap/080327/wall_street.html
*Stocks End Seesaw Session Lower*
Thursday March 27, 5:17 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks Fall After GDP Data Confirms Modest 4th-Quarter Growth; Oracle Hurts Tech Stocks *

NEW YORK (AP) -- Wall Street sank in volatile trading Thursday after the government confirmed that the last quarter of 2007 did indeed see a sharp economic slowdown. For the second straight session, the Dow Jones industrial average fell more than 100 points.

The technology sector was particularly weak after business software maker Oracle Corp. posted worse-than-expected fiscal third-quarter sales and issued a cautious forecast. Meanwhile, data suggesting that Google Inc.'s revenue from Internet users' clicks could slow also raised worries about tech stocks.

Oracle fell $1.51, or 7.2 percent, to $19.43, and Google dropped $14.11, or 3.1 percent, to $444.08.

Financial stocks lost ground Thursday as well, with investors uncertain about what is in store for the economy and the troubled financial sector.

But the sense of panic that emanated from the near-collapse of Bear Stearns Cos. at the start of last week has lessened, observers say. The Federal Reserve on Thursday afternoon auctioned off $75 billion in credit to investment banks, whose demand was solid but not at the desperate levels some investors had feared.

"GDP was in line, so we're still expanding, even though we're expanding at a very small rate," said Dave Rovelli, managing director of U.S. equity trading at Canaccord Adams. "It's definitely a different mind-set than it was two weeks ago. A lot of smart people are telling us to buy on the dips. I think we'll be fine as long as there is not another Bear Stearns out there."

The Dow fell 120.40, or 0.97 percent, to 12,302.46.

Broader stock indicators also fell. The Standard & Poor's 500 index declined 15.37, or 1.15 percent, to 1,325.76, and the technology-heavy Nasdaq composite index fell 43.53, or 1.87 percent, to 2,280.83.

Declining issues outpaced advancers by about 5 to 3 on the New York Stock Exchange, where volume came to 1.43 billion shares.

The Russell 2000 index of smaller companies fell 9.72, or 1.38 percent, to 692.39.

Bond prices also fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.55 percent from 3.46 percent late Wednesday. The dollar rose against other major currencies, while gold prices slipped.

Light, sweet crude rose $1.68 to $107.58 a barrel on the New York Mercantile Exchange as investors grew uneasy about Iraqi oil output after the bombing of key pipeline in that country.

While investors appear less cautious than they were after the Fed helped orchestrate the sale of the liquidity-starved Bear Stearns to JPMorgan Chase & Co., there have recently been fresh signs of strain in the economy.

Still, some upbeat news gave investors room for optimism. While it wasn't enough to propel stocks higher, investors appeared pleased by the Labor Department's report that the number of workers seeking unemployment benefits fell last week by a seasonally adjusted 9,000 to 366,000. Though the weekly figures can be volatile, the reading was better than the 371,000 many economists predicted.

Investors were kept busy digesting comments from a handful of Federal Reserve officials speaking Thursday. However, none of the remarks on subjects such as the likelihood of recession and the need to further regulate Wall Street appeared to have discernible effects on the market.

George Shipp, chief investment officer at Scott & Stringfellow, said investors generally remain uneasy about whether they have an accurate read on the scale of the troubles in the financial sector and to what degree the parade of write-downs on bad investments might continue.

"It's hard to imagine there is going to be any good news. The question is whether it's been discounted," he said, referring to another round of potentially weak results from big banks in the coming months. "The market is groping for a bottom. It's a difficult time."

Like the financial sector, homebuilders have caused much uncertainty among investors. But stocks in the sector advanced Thursday after a better-than-expected snapshot of the business. Lennar Corp. said it swung to a loss in the first quarter as it faced charges to write down asset values. However, the company's results stripping out certain items came in better than Wall Street had forecast and helped boost shares of homebuilders.

Lennar rose 31 cents to $17.90. Rival KB Home advanced 25 cents to $25.79, while DR Horton Inc. rose 33 cents, or 2.2 percent, to $15.53.

Overseas, Japan's Nikkei stock average closed down 0.80 percent. Britain's FTSE 100 rose 1.01 percent, Germany's DAX index advanced 1.37 percent, and France's CAC-40 rose 0.92 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The Dow Jones industrial average ended the week down 144.92, or 1.17 percent, at 12,216.40. 

The Standard & Poor's 500 index finished down 14.29, or 1.07 percent, at 1,315.22. 

The Nasdaq composite index ended the week up 3.07, or 0.14 percent, at 2,261.18.

The NYSE DOW closed LOWER by -86.06 points	-0.70% on Friday March 28

Sym Last........ ........Change..........
Dow	12,216.40	-86.06	-0.70%
Nasdaq	2,261.18	-19.65	-0.86%
S&P 500	1,315.22	-10.44	-0.79%
30-yr Bond	4.34%	-0.03

NYSE Volume	3,687,043,750
Nasdaq Volume	1,801,278,500

*Overseas*
Japan's Nikkei stock average rose 1.71 percent. Britain's FTSE 100 fell 0.43 percent, Germany's DAX index fell 0.28 percent, and France's CAC-40 declined 0.50 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,692.90	-24.60	-0.43%
DAX	6,559.90	-18.16	-0.28%
CAC 40	4,695.92	-23.61	-0.50%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,820.47	+215.89	+1.71%
Hang Seng	23,285.95	+621.73	+2.74%
Straits Times	3,031.90	+6.70	+0.22%

http://biz.yahoo.com/ap/080328/wall_street.html
*Wall Street Closes Week Slightly Lower*
Friday March 28, 6:16 pm ET
By Tim Paradis, AP Business Writer
*Stocks Dip As Personal Spending Shows Weakness but Meets Forecast; JC Penney Warns*

NEW YORK (AP) -- Wall Street finished the week with a decline Friday as the financial health of the consumer came into focus following a report that showed personal spending at its weakest growth in 17 months and a profit warning from J.C. Penney Co. The major indexes turned in a mixed performance for the week.

After weeks of concentrating on credit problems and interest rates, the market was forced to pay attention to the consumers who drive economic growth. The Commerce Department said consumer spending ticked up a paltry 0.1 percent last month, in line with Wall Street's expectations. But that news and the profit warning from J.C. Penney raised concerns about the well-being of consumers.

Investors felt some relief after the government said an important inflation gauge tied to consumer spending rose only 0.1 percent when excluding often-volatile energy and food costs. The reading -- the Federal Reserve's preferred measure of inflation -- is up 2 percent over the past 12 months. With so-called core inflation back within the Fed's target of 1 percent to 2 percent, it could be easier for the central bank to justify further interest rate cuts without fear of adding too much money to the economy and driving up prices.

Trading was fairly muted following days of volatility that sent stocks sharply higher early in the week and then plunging near the end. Investors were able to set aside some concerns about the effects of the credit crisis on the financial sector, but that gave them more time to think about the economy.

"I'm viewing a day like today as sort of a continuation from where we were a month or two ago," said Les Satlow, portfolio manager at Cabot Money Management in Salem, Mass. "The U.S. recession concerns have resurfaced. They never went away but there was the beginning of the sense that this recession was going to be shallow and maybe a bit benign."

The Dow Jones industrial average fell 86.06, or 0.70 percent, to 12,216.40, suffering its third straight decline.

Broader stock indicators slipped. The Standard & Poor's 500 index fell 10.54, or 0.80 percent, to 1,315.22, and the Nasdaq composite index fell 19.65, or 0.86 percent, to 2,261.18.

For the week, the Dow fell 1.17 percent and the S&P 500 dropped 1.07 percent. The Nasdaq, which had a sharp rally in recent weeks and trended above the other major indexes, finished up 0.14 percent.

"This has almost been a week of pause," said Jack Caffrey, equities strategist at JPMorgan Private Bank, saying investors are witnessing a calm before the storm of first-quarter earnings in April. "The markets didn't move all that much. And more importantly, volumes were noticeably lower."

Friday's session was the next to last for what has been a dismal first quarter. Many investors are likely eager to close the books on the losses and start fresh on Tuesday.

Investors will have plenty of economic data to pore over next week as the market tries to determine if the country is indeed in the midst of a recession. Perhaps most watched will be Friday's Labor Department report on payrolls, which economists surveyed by Thomson Financial/IFR predict fell by about 50,000 in March after a 63,000 drop in February. Economists also predict the unemployment rate will rise back up to 5 percent from February's 4.8 percent.

The market will also be monitoring the Institute for Supply Management's national manufacturing report on Tuesday. Economists expect a shallow contraction for March, similar to February.

Wall Street will also get a snapshot of the service sector with a second ISM report on Thursday. It is also expected to contract in March from February.

Falling stock valuations sent bond prices higher Friday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.45 percent from 3.52 percent late Thursday. The yield notched down to 3.44 percent in after-hours trading.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude fell $1.96 to settle at $105.62 a barrel on the New York Mercantile Exchange.

With the near implosion of Bear Stearns Cos. behind the market, investors have been watching the usual set of indicators -- such as oil and other data -- to determine the economy's health. And, as Wall Street tries to determine the degree to which the economy is slowing, any news that consumers are less willing to reach into their wallets is unwelcome. Consumer spending accounts for about 70 percent of U.S. economic activity.

J.C. Penney's warning gave investors a reason to be concerned. The retailer predicted a first-quarter profit of 50 cents per share, down from an earlier target of 75 cents to 80 cents. The stock fell $3.04, or 7.5 percent, to $37.48.

It dragged the rest of the retail sector lower. Kohl's Corp. fell $2.19, or 4.9 percent, to $42.33. Higher-end retailers lost ground as well. Macy's Inc. slid $1.39, or 5.9 percent, to $21.97, while Nordstrom Inc. declined $1.97, or 5.7 percent, to $32.62.

Declining issue led advancers by a 2 to 1 basis on the New York Stock Exchange, where consolidated volume came to 3.59 billion shares compared to 3.90 billion on Thursday.

The Russell 2000 index of smaller companies fell 9.21, or 1.33 percent, to 683.18.

Overseas, Japan's Nikkei stock average rose 1.71 percent. Britain's FTSE 100 fell 0.43 percent, Germany's DAX index fell 0.28 percent, and France's CAC-40 declined 0.50 percent.

The Dow Jones industrial average ended the week down 144.92, or 1.17 percent, at 12,216.40. The Standard & Poor's 500 index finished down 14.29, or 1.07 percent, at 1,315.22. The Nasdaq composite index ended the week up 3.07, or 0.14 percent, at 2,261.18.

The Russell 2000 index finished the week up 1.76, or 0.26 percent, at 683.18.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 13,255.14, down 81.43 points, or 0.61 percent, for the week. A year ago, the index was at 14,365.45.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

It has been a difficult quarter on Wall Street, with financial companies' continuing credit market losses and the flagging economy wiping out investors' appetite for stocks. While the market has seen a number of up days during the quarter, overall the first-quarter trend was sharply lower.

The NYSE DOW closed HIGHER by +46.49 points +0.38%  on Monday March 31

Sym Last........ ........Change..........
Dow 12,262.89 +46.49 +0.38% 
Nasdaq 2,279.10 +17.92 +0.79% 
S&P 500 1,322.70 +7.48 +0.57% 
10 Yr Bond(%) 3.4320% -0.0340 

*Overseas*
Japan's Nikkei stock average fell 2.30 percent. Britain's FTSE 100 closed up 0.16 percent, Germany's DAX index fell 0.28 percent, and France's CAC-40 rose 0.24 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,702.10 +9.20 +0.16% 
DAX 6,534.97 -24.93 -0.38% 
CAC 40 4,707.07 +11.15 +0.24% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 12,525.54 -294.93 -2.30% 
Hang Seng 22,849.20 -436.75 -1.88% 
Straits Times 3,344.53 +3,344.53 -0.81% 

http://biz.yahoo.com/ap/080331/wall_street.html
*Stocks Gain on Last Day of Quarter*
Monday March 31, 4:46 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks Rise to Finish Weak First Quarter; Chicago PMI Better Than Expected *

NEW YORK (AP) -- Wall Street closed a dismal first quarter with a moderate gain Monday, rising after a reading on regional manufacturing came in better than expected.

The Chicago Purchasing Managers Index, considered a precursor to the Institute for Supply Management manufacturing survey on Tuesday, rose to 48.2 in March from 44.5 a month earlier. Economists had been expecting a reading of 47.3, according to Dow Jones Newswires. Though the reading topped forecasts, a figure below 50 nonetheless indicates a contraction in manufacturing activity.

The market's reaction, however, was likely not as enthusiastic as it might seem from gains by the major indexes. Volume was very light, which tends to skew price movements, and the final day of the quarter had some institutions buying more for show rather than on any conviction about the economy.

It has been a difficult quarter on Wall Street, with financial companies' continuing credit market losses and the flagging economy wiping out investors' appetite for stocks. While the market has seen a number of up days during the quarter, overall the first-quarter trend was sharply lower.

Investors also examined a government plan to overhaul the way Wall Street is regulated. Wall Street appeared unmoved by a speech from Treasury Secretary Henry Paulson on the plan to reorganize oversight of Wall Street; details of the 218-page plan have been widely reported in recent days. It would give the Federal Reserve increased power to protect the stability of the entire financial system while merging day-to-day supervision of banks into one agency, down from five under the existing system.

Scott Wren, senior equity strategist for A.G. Edwards & Sons, said Monday's trading showed investors were generally awaiting economic data due this week on the manufacturing and service sectors as well as employment. Investors are prepared for weak economic data, he said, but could become unnerved if there is unwelcome corporate news.

"The market is already pricing in a ton of bad economic news. Bad economic news is not going to drive the market. What's going to drive the market is headline news," he said.

According to preliminary calculations, the Dow rose 46.49, or 0.38 percent, to 12,262.89.

Broader stock indicators also rose. The Standard & Poor's 500 index advanced 7.48, or 0.57 percent, to 1,322.70, and the Nasdaq composite index rose 17.92, or 0.79 percent, to 2,279.10.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where volume came to 1.58 billion shares compared with 1.35 billion shares traded Friday.

The dollar rose against several other major currencies, easing pressure on commodities such as oil and gold. Light, sweet crude fell $4.04 to settle at $101.58 on the New York Mercantile Exchange, while gold fell $14.40 to finish at $916.20 an ounce on the Nymex.

Bond prices rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.41 percent from 3.45 percent late Friday.

Merck & Co. fell $6.56, or 15 percent, to $37.95 and Schering-Plough Inc. declined $5.06, or 26 percent, to $15.41 after medical researchers said the companies' joint cholesterol drug, Vytorin, failed to improve heart disease. The researchers' findings, published by the New England Journal of Medicine, urged a return to more established treatments for cholesterol. Merck is one of the 30 stocks that comprise the Dow industrials and, as a result, dragged on the blue chips.

Citigroup Inc. rose 59 cents, or 2.8 percent, to $21.42 after announcing plans to split its consumer banking unit from its credit card business as part of a broader reorganization to cut costs and simplify the large financial institution's structure. The company suffered billions of dollars in losses from investments in poor-quality mortgages.

The Russell 2000 index of smaller companies rose 4.79, or 0.70 percent, to 687.97.

Overseas, Japan's Nikkei stock average fell 2.30 percent. Britain's FTSE 100 closed up 0.16 percent, Germany's DAX index fell 0.28 percent, and France's CAC-40 rose 0.24 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

*The Dow Jones industrials surged nearly 400 points, and all the major indexes were up more than 3 percent.

Some of the biggest financial players had their sharpest moves of the year Tuesday -- Citigroup Inc. shot up 11 percent, JPMorgan Chase & Co. rose 9 percent, and Lehman surged 18 percent.*

The NYSE DOW closed HIGHER by +391.47 points +3.19% on Tuesday April 1

Sym Last........ ........Change..........
Dow 12,654.36 +391.47 +3.19% 
Nasdaq 2,362.75 +83.65 +3.67% 
S&P 500 1,370.18 +47.48 +3.59% 
10 Yr Bond(%) 3.5450% +0.1130 

*Overseas*
Tokyo's Nikkei closed up 1.04 percent. There were gains in Europe too, with London's FTSE rising 2.64 percent, Frankfurt's DAX gaining 2.84 percent and Paris' CAC 40 advancing 3.38 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,852.60 +150.50 +2.64% 
DAX 6,720.33 +185.36 +2.84% 
CAC 40 4,866.00 +158.93 +3.38% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 12,656.42 +130.88 +1.04% 
Hang Seng 23,137.46 +288.26 +1.26% 
Straits Times 3,344.53 +3,344.53 +1.30% 

http://biz.yahoo.com/ap/080401/wall_street.html
*Bank News, Economic Data Boosts Stocks*
Tuesday April 1, 5:09 pm ET 
By Joe Bel Bruno, AP Business Writer  
*Wall Street Surges on UBS and Lehman Brothers Stock News, Better-Than-Expected Economic Data *

NEW YORK (AP) -- Wall Street began the second quarter with a big rally Tuesday as investors rushed back into stocks, optimistic that the worst of the credit crisis has passed and that the economy is faring better than expected. The Dow Jones industrials surged nearly 400 points, and all the major indexes were up more than 3 percent.

Financial stocks were among the big winners after Lehman Brothers Holdings Inc. and Switzerland's UBS AG issued new shares to help bolster their balance sheets. With that upbeat news and a fresh quarter ahead of them, investors appear quite willing to make some bets that the worst of the damage from the nation's credit struggles has been felt. Moreover, the banks' moves buttressed the view that financial services companies are taking aggressive action to improve their capital bases and stave off the potential of a collapse similar to Bear Stearns Cos.

Analysts believe there must be a recovery in bank and brokerages to lead major stock indexes higher. Some of the biggest financial players had their sharpest moves of the year Tuesday -- Citigroup Inc. shot up 11 percent, JPMorgan Chase & Co. rose 9 percent, and Lehman surged 18 percent.

"Investors have a difficult time making decisions about the stock market if they don't have confidence in major financial institutions, so there's been a lot of sideline cash," said Richard Cripps, chief market strategist for Stifel Nicolaus. "The extreme conditions that we've seen here over the past few months has been missing that confidence ... but that appears to be changing, and we're seeing the response."

Meanwhile, Wall Street got another boost when the Institute for Supply Management said its March index of national manufacturing activity rose to a reading of 48.6 -- indicating a contraction, but a slower one than in February and tamer than many analysts had predicted. Government data on construction spending for February also came in better than expected.

The Dow rose 391.47, or 3.19 percent, to 12,654.47. It marked the eighth-biggest point gain ever for the Dow, and the third time in two weeks it came close to or surpassed 400 points.

Broader stock indicators also gained sharply. The Standard & Poor's 500 index rose 47.48, or 3.59 percent, to 1,370.18 -- the index's best start to a second quarter since 1938. And, the Nasdaq composite index rose 83.65, or 3.67 percent, to 2,362.75.

The advance was in contrast to a lackluster session on Monday, where stocks managed a moderate gain in the final session of a dismal first quarter. Major indexes ended the first three months of 2008 with massive losses, marking the worst period since the third quarter of 2002 when Wall Street was approaching the lowest point of a protracted bear market.

Renewed enthusiasm that the credit crisis might be waning was also felt in the Treasury market, where government securities fell as investors withdrew money to take bets on stocks. The 10-year Treasury note's yield, which moves opposite its price, rose to 3.55 percent from 3.43 percent late Monday.

In addition to hopes about the financial sector, Wall Street was relieved to see the feeble dollar regain some strength against the euro. The euro fell to $1.5596 from $1.5785 late Monday in New York.

And there was also optimism that commodities prices, which have hit historic highs in recent months, have begun to retreat. Crude fell 60 cents to settle at $100.98 on the New York Mercantile Exchange after earlier falling below $100. Meanwhile, gold dropped back below $900 an ounce.

"This is a nice way to begin the second quarter," said Todd Leone, managing director of equity trading at Cowen & Co. "All the financials are up big, and there's a sense that things are turning. We definitely have not seen the last of the credit crisis, but we're getting closer."

The stock rally was underpinned by the announcements from UBS and Lehman Brothers that they are boosting capital by issuing new stock. Shares of banks and brokerages hovered near multiyear lows in recent months as investors feared heavy losses from investments tied to subprime mortgages would be overwhelming.

Earlier this month, widespread concerns about Bear Stearns' financial position forced the investment bank to sell itself to JPMorgan in a deal engineered by the Federal Reserve -- and that stoked fears that other investment houses might follow.

JPMorgan rose $4.05, or 9.4 percent, to $47; while Bear Stearns was up 36 cents, or 3.4 percent, to $10.85 -- slightly above the $10 per share acquisition price.

UBS, one of Europe's biggest banks, said it will issue up to $15 billion in new stock and that its chairman, Marcel Ospel, had quit. Investors chose to look past the bank's announcement that it will take a fresh $19 billion write-down due to additional declines in the value of its mortgage assets and other credit instruments, following an $18 billion write-down last year. Its shares surged $4.21, or 14.6 percent, to $33.01 in trading on the New York Stock Exchange.

Lehman Brothers, dogged by speculation it might reveal losses big enough to cripple the company, on Tuesday raised $4 billion of capital to stymie questions about its financial stability. Lehman rose $6.70, or 17.8 percent, to $44.34.

The Russell 2000 index of smaller companies rose 22.68, or 3.30 percent, to 710.65.

Advancing issues outnumbered decliners by about 4 to 1 on the New York Stock Exchange, where volume came to a heavy 1.85 billion shares.

In overseas trade, Tokyo's Nikkei closed up 1.04 percent. There were gains in Europe too, with London's FTSE rising 2.64 percent, Frankfurt's DAX gaining 2.84 percent and Paris' CAC 40 advancing 3.38 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## Aussiejeff

> _"UBS, one of Europe's biggest banks, said it will issue up to $15 billion in new stock and that its chairman, Marcel Ospel, had quit. *Investors chose to look past the bank's announcement that it will take a fresh $19 billion write-down due to additional declines in the value of its mortgage assets and other credit instruments, following an $18 billion write-down last year*. Its shares surged $4.21, or 14.6 percent, to $33.01 in trading on the New York Stock Exchange.
> 
> Lehman Brothers, *dogged by speculation it might reveal losses big enough to cripple the company*, on Tuesday raised $4 billion of capital to stymie questions about its financial stability. Lehman rose $6.70, or 17.8 percent, to $44.34._




I find it interesting how the US market has somehow managed the best start to a 2nd quarter since 1938 on the back of two big world banks clearly in financial trouble issuing bucket loads of extra shares to try and shore up their liquidity. Usually, when companies in financial trouble are forced to issue a heap of new stock, the share price would DROP in the short term at least .... but not this time. I'd be interested in comments on that aspect of this "rally" or "bounce".

I find it particularly curious that _"UBS investors chose to look past the bank's announcement that it will take a fresh $19 billion write-down due to additional declines in the value of its mortgage assets and other credit instruments, following an $18 billion write-down last year"_. Surely, all this new issued stock must water down the intrinsic value of existing shares?



AJ


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

Wall Street turned lower Wednesday as investors worried that a sharp jump in oil prices could be another sign that consumers are under stress in an economy that is already showing signs of a recession.

The NYSE DOW closed LOWER by -48.53 points -0.38% on Wednesday April 2

Sym Last........ ........Change..........
Dow 12,605.83 -48.53 -0.38% 
Nasdaq 2,361.40 -1.35 -0.06% 
S&P 500 1,367.53 -2.65 -0.19% 
10 Yr Bond(%) 3.5830% +0.0380 

*Overseas*
Tokyo's Nikkei index closed up 4.21 percent. There were gains in European stocks too -- London's FTSE 100 rose 1.08 percent, Frankfurt's DAX advanced 2.84 percent and Paris' CAC 40 gained 0.94 percent
*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,915.90 +63.30 +1.08% 
DAX 6,777.44 +57.11 +0.85% 
CAC 40 4,911.97 +45.97 +0.94% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,189.36 +532.94 +4.21% 
Hang Seng 23,872.43 +734.97 +3.18% 
Straits Times 3,344.53 +3,344.53 +2.56% 

http://biz.yahoo.com/ap/080402/wall_street.html
*Wall Street Pulls Back As Oil Spikes*
Wednesday April 2, 5:22 pm ET 
By Joe Bel Bruno, AP Business Writer  
*Stocks Decline As Oil Price Spike Causes Worries About Consumer Spending, Economy *

NEW YORK (AP) -- Wall Street turned lower Wednesday as investors worried that a sharp jump in oil prices could be another sign that consumers are under stress in an economy that is already showing signs of a recession.

The major indexes, which spent most of the session in a tight trading range, tumbled after oil prices shot higher in response to the Energy Department's report of an unexpected jump in gasoline demand. That could lead to higher prices at the pump, a troublesome trend given that retail gas prices are expected to rise further as the summer approaches and put more financial pressure on consumers.

Consumer spending, which makes up about two-thirds of the U.S. economy, is watched closely by the Federal Reserve. Earlier Wednesday, Fed Chairman Ben Bernanke said he expects the economy to contract in the first half -- a trend that would mean the U.S. is in a recession.

Crude oil rose $3.85 to settle at $104.83 a barrel on the New York Mercantile Exchange.

"The oil uptick took away some of the optimism that we've seen recently," said Richard Cripps, chief market strategist for Stifel Nicolaus. "Higher gasoline price would mean less in the pocket for Americans, and there's also continued worries about a recession."

The credit crisis and weak economy have sent stocks tumbling over the past six months. But the market had shown some renewed confidence that the worst of the credit problems might be behind Wall Street; that upbeat sentiment sent stocks up nearly 400 points on Tuesday, the first day of the second quarter.

Some of the pullback late Wednesday also was pinned on profit taking after that big advance.

The Dow Jones industrials fell 48.53, or 0.38 percent, to 12,605.83 after changing direction several times.

Broader market indexes also fell. The Standard & Poor's 500 index fell 2.65, or 0.19 percent, to 1,367.53 while the Nasdaq composite index fell 1.35, or 0.06 percent, to 2,361.40.

Treasury bonds moved slightly lower as investors weighed Bernanke's testimony before Congress; fixed income investors were focused on hints from Bernanke that the central bank might be less aggressive about lowering interest rates. The 10-year Treasury note's yield, which moves opposite its price, rose to 3.59 percent from late Tuesday's 3.55 percent.

The dollar was mixed against other major currencies, while gold fell slightly.

Investors paid close attention to what Bernanke had to say about a number of problems facing the economy -- including tightening credit markets, a slumping housing market, and the near collapse of investment bank Bear Stearns Cos. Stocks initially rose after the Fed chairman said he doesn't believe the nation's big investment banks face the possibility of a collapse.

And, his warning about a potential recession was really not a shock to investors who trudged through one of the more difficult first quarters in years. Kim Caughey, equity research analyst at Fort Pitt Capital Group, said she didn't believe Bernanke had "anything new to say" and was simply reiterating previous thoughts.

"This is evidence that he is being more transparent -- there are no big bombs dropping during congressional testimony," she said.

Though numerous economists have said they believe a recession is under way, Fed officials generally are cautious when describing the economy. A recession consists of at least two consecutive quarters of economic contraction and can only be declared in hindsight.

Bernanke also outlined some of the steps taken in the past few weeks to help boost the financial positions of the nation's biggest investment banks. He offered that a failure of Bear Stearns would have been difficult to contain, and that was one reason why the central bank helped arrange the investment bank's sale to JPMorgan Chase.

JPMorgan Chase fell 38 cents to $46.24, while Bear Stearns rose 1 cent to $10.86.

Richard Sparks, a senior equities analyst at Schaeffer's Investment Research, called Wednesday's market performance "a breather." He said stocks might begin to percolate higher if first-quarter earnings come in better than expected, and should the credit markets remain stable.

"The market did a lot of work (Tuesday) -- it makes sense that it needs a bit of a rest here before resuming on, if it can," he said.

Investors also weighed fresh economic data that indicated factory orders in the U.S. have fallen for a second straight month. The Commerce Department said orders dropped by 1.3 percent in February, about double the downturn that economists had been expecting.

In corporate news, Best Buy Co. said its fourth-quarter profit slipped 3 percent as customer traffic slowed after the holidays. But, the electronics retailer still beat Wall Street estimates, and shares rose 47 cents to $43.94.

The Russell 2000 index of smaller companies rose 1.62, or 0.23 percent, to 712.27.

Advancing issues barely outpaced decliners on the New York Stock Exchange, where volume came to a light 1.44 billion shares compared to 1.85 billion on Tuesday.

Overseas, Tokyo's Nikkei index closed up 4.21 percent. There were gains in European stocks too -- London's FTSE 100 rose 1.08 percent, Frankfurt's DAX advanced 2.84 percent and Paris' CAC 40 gained 0.94 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html


Stocks managed to notch a modest gain Thursday, with Wall Street cautious ahead of Friday's jobs report but hopeful that the global financial system is on the mend.

The NYSE DOW closed HIGHER by +20.20 points	+0.16% on Thursday April 3

Sym Last........ ........Change..........
Dow	12,626.03	+20.20	+0.16%
Nasdaq	2,363.30	+1.90	+0.08%
S&P 500	1,369.31	+1.78	+0.13%
30-yr Bond	4.3870%	0.0000

NYSE Volume	3,826,287,0
Nasdaq Volume	1,993,451,750

*Overseas*
Tokyo's Nikkei index closed 1.52 percent higher,  while London's FTSE fell 0.42 percent, Frankfurt's DAX lost 0.53 percent and Paris' CAC 40 slid 0.49 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,891.30	-24.60	-0.42%
DAX	6,741.72	-35.72	-0.53%
CAC 40	4,887.87	-24.10	-0.49%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,389.90	+200.54	+1.52%
Hang Seng	24,264.63	+392.20	+1.64%
Straits Times	3,171.55	+46.94	+1.50%

http://biz.yahoo.com/ap/080403/wall_street.html
*Stocks Higher After Bernanke Testimony*
Thursday April 3, 4:41 pm ET
By Madlen Read, AP Business Writer
*Stocks Up After Comments From Fed Chairman, Merrill CEO Revive Confidence About Credit Markets*

NEW YORK (AP) -- Stocks managed to notch a modest gain Thursday, with Wall Street cautious ahead of Friday's jobs report but hopeful that the global financial system is on the mend.

Federal Reserve Chairman Ben Bernanke told Congress Thursday the Fed expects to recover most, if not all, the $29 billion worth of loans it made to keep struggling Bear Stearns Cos. from collapse. Bernanke's remarks, in which he defended the central bank's decision to aid JPMorgan Chase & Co.'s buy of Bear Stearns, were calming to investors hoping that demand is returning to the tight credit markets.

John Thain, the chief executive of Merrill Lynch & Co., also lent some solace to the market after telling Japanese financial newspaper The Nikkei that the investment bank has sufficient cash and will not need to raise more.

The stock market has been performing well recently due to its newfound confidence about global financial system -- even in the face of poor economic data. Early Thursday, stocks dipped after the Labor Department reported a spike in jobless claims to a level not seen since September 2005.

But the decline was very mild and short-lived -- particularly given the huge advance Wall Street logged Tuesday and has mostly maintained, and the fact that economists expect the government on Friday to report there was a jobs loss in March for the third straight month.

"I think that the desire to sell is coming off," said Thomas J. Lee, equities analyst at JPMorgan. The fact that the market has not been shaken by recent disappointing economic data "tells me that the recession is largely discounted."

According to preliminary calculations, the Dow Jones industrial average rose 20.20, or 0.16 percent, to 12,626.03.

Broader stock indicators also edged higher. The Standard & Poor's 500 index rose 1.78, or 0.13 percent, to 1,369.31, and the Nasdaq composite index rose 1.90, or 0.08 percent, to 2,363.30.

The Dow, which shot up nearly 400 points on Tuesday, is up 7.6 percent from its March 10 low, its worst level since October 2006.

"I think we're going to have a big test coming up," Lee said. "Are U.S. stocks poised for another downturn, or are U.S. stocks telling us the worst is behind us?"

With a broad swath of corporate earnings reports set to arrive in the coming weeks, investors appear upbeat. Over the past few weeks, the market has occasionally been knocked lower by disappointing economic readings, particularly on consumers' discretionary spending, but it has ultimately righted itself amid signs that the credit markets are improving.

"You're going to continue to see weak economic data. That doesn't mean stocks are going to come down," said Bill Stone, chief investment strategist for PNC Wealth Management.

Government bonds rose slightly. The yield on the 10-year Treasury note, which moves opposite its price, was at 3.58 percent, down from 3.60 percent late Wednesday.

Crude oil fell $1 to $103.83 a barrel on the New York Mercantile Exchange, after a surge a day earlier on the prospect of climbing demand for gasoline.

The dollar was mixed against other major currencies, while gold rebounded back above $900 an ounce.

The Russell 2000 index of smaller companies rose 1.30, or 0.18 percent, to 713.57.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where volume came to 1.25 billion shares.

JPMorgan rose 9 cents to $46.28 and Bear Stearns fell 14 cents to $10.72 after each company's chief executive spoke to Congress following Bernanke's testimony. JPMorgan's CEO James Dimon said the bank has borrowed $25 billion so far from the Fed, which last week saw an average $32.9 billion in daily borrowing from financial firms.

In addition to the congressional testimony, investors got a bit of relief from the Institute for Supply Management. The ISM said Thursday the services sector contracted only slightly in March -- a stronger performance than in February, and a better reading than many economists predicted.

In corporate news, Schering-Plough Corp. announced late Wednesday it plans to cut jobs to offset continued sales declines of its cholesterol drug Vytorin. Schering-Plough shares soared $1.52, or 11 percent, to $15.38; they had fallen sharply earlier in the week after news that medical researchers were recommending against use of the drug.

Cisco Systems Inc., meanwhile, dropped 73 cents, or 2.9 percent, to $24.23 due to an analyst downgrade. The analyst cited softening demand, and said the networking equipment maker will have to buy other companies to reach its growth target.

In overseas trading, Tokyo's Nikkei index closed 1.52 percent higher, while London's FTSE fell 0.42 percent, Frankfurt's DAX lost 0.53 percent and Paris' CAC 40 slid 0.49 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The Dow Jones industrial average ended the week up 393.02, or 3.22 percent, at 12,609.42. The Standard & Poor's 500 index finished up 55.18, or 4.20 percent, at 1,370.40. The Nasdaq composite index ended the week up 109.80, or 4.86 percent, at 2,370.98.

The NYSE DOW closed LOWER by -16.61 points 	-0.13% on Friday April 4

The Dow Jones industrial average slipped 16.61, or 0.13 percent, to 12,609.42, in part because of a decline in General Motors Corp. stock.

Sym Last........ ........Change..........
Dow	12,609.42	-16.61	-0.13%
Nasdaq	2,370.98	+7.68	+0.32%
S&P 500	1,370.40	+1.09	+0.08%
30-yr Bond	4.3180%	-0.0690

NYSE Volume	3,674,373,500
Nasdaq Volume	1,981,763,500

*Overseas*
Japan's Nikkei stock average fell 0.72 percent. Britain's FTSE 100 finished up 0.95 percent, Germany's DAX index rose 0.32 percent, and France's CAC-40 added 0.27 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,947.10	+55.80	+0.95%
DAX	6,763.39	+21.67	+0.32%
CAC 40	4,900.88	+13.01	+0.27%


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,293.22	-96.68	-0.72%
Hang Seng	24,264.63	+392.20	+1.64%
Straits Times	3,171.55

http://biz.yahoo.com/ap/080404/wall_street.html
Stocks Mostly Rise After Jobs Report
Friday April 4, 5:46 pm ET
By Tim Paradis, AP Business Writer
Most Stocks Up After Report of 80,000 Jobs Lost in March; Some Investors Feared Bigger Decline

NEW YORK (AP) -- Wall Street showed some reassuring signs of stability Friday, closing mostly higher despite the biggest monthly decline in jobs in five years. The major indexes ended the first four sessions of the second quarter with a healthy advance.

While some nervous investors fled to government bonds, the report, showing the economy gave up 80,000 jobs last month, appeared to simply confirm many investors' assumptions of a widespread economic slowdown.

Although the job losses, the most since March 2003, are indeed a significant sign of economic weakness, a lackluster report was widely expected, and some investors were relieved the total was not higher. Thomson/IFR had projected 15,000 jobs were lost in March, but some economists expected 150,000 cuts.

Payrolls for January and February were revised lower by a total of 67,000 and the unemployment rate shot up to 5.1 percent, the highest since September 2005. The economy has given up about 232,000 jobs in the first three months of this year, and the latest report adds fuel to the belief of many economists that the U.S. is already in recession.

"The economic data is negative, but I think what the market's telling us is we've priced in a lot of the bad news already," said Arthur Hogan, chief market strategist at Jefferies & Co. "You could make the argument that we've thrown a lot of difficult news at this market and it's reacted very well."

The market's next big test is likely to come with the release of first-quarter earnings reports in the coming weeks. Investors will be particularly keen to know what companies' outlooks are for the rest of this year -- if they are disappointing, Wall Street could see a return of the punishing volatility of the past few months.

The Dow Jones industrial average slipped 16.61, or 0.13 percent, to 12,609.42, in part because of a decline in General Motors Corp. stock.

Broader stock indicators edged higher. The Standard & Poor's 500 index added 1.09, or 0.08 percent, to 1,370.40, and the Nasdaq composite index advanced 7.68, or 0.32 percent, to 2,370.98.

Though the major indexes showed modest moves, advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where consolidated volume came to 3.59 billion shares compared with 3.77 billion traded Thursday.

For the second quarter, which began Tuesday, the Dow is up 2.83 percent, the S&P 500 gained 3.61 percent, and the Nasdaq added 4.03 percent. For the entire week, the Dow rose 3.22 percent, the S&P 500 added 4.20 percent and the Nasdaq gained 4.86 percent.

Treasury prices jumped after the jobs report, as investors often seek the safety of government-backed bonds amid uncertainty about the economy. The yield on the benchmark 10-year note, which moves opposite its price, fell to 3.47 percent in late trading from 3.59 percent late Thursday.

The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude rose $2.40 to settle at $106.23 a barrel on the New York Mercantile Exchange. Retail gas prices, meanwhile, surged to a new record above $3.30 a gallon, and appear ready to rise further as supplies tighten ahead of the summer driving season.

Investors' assessment of the economy comes after a strong week for Wall Street. Monday brought the welcome end to a downbeat first quarter. While the S&P 500 fell nearly 10 percent during the first three months of the year, stocks had managed to pull off their lows by quarter's end.

On Tuesday, the Dow surged nearly 400 points as investors snapped up shares of financial companies, which have fallen sharply in recent months on concerns about bad debt on balance sheets. The quiet sessions since, including Friday's modest moves in the face of bad economic news, appeared to buoy some hopes that the market is carving a bottom after five months of declines in the S&P.

Friday's advance followed a gentle rise on Thursday in response to Federal Reserve Chairman Ben Bernanke's remarks that the Fed expects to recover most, if not all, the $29 billion worth of loans it made to keep struggling Bear Stearns Cos. from collapse. Bernanke's comments to the Senate Banking Committee, in which he defended the central bank's decision to aid JPMorgan Chase & Co.'s takeover of Bear Stearns, were calming to investors hoping that demand is returning to the tight credit markets.

Other central bankers and business leaders appearing before the committee indicated they were able to avert a financial catastrophe with Bear Stearns sinking quickly toward bankruptcy.

Remarks by Bernanke earlier in the week left the door open to another interest rate cut from the Federal Reserve.

"This (jobs) number still supports the notion that there's likely going to be more monetary policy easing by the Fed," said Michael Strauss, chief economist at Commonfund, noting that investors appear to be considering that the central bank's steps often take time to filter into the economy.

Figures like employment numbers also lag, noted Hogan. "The unemployment rate will go higher before the recession is over," he said. "I think the market is trying to tell us we understand that, we've seen this before"

"I think there are market participants who are looking through the valley and saying they're seeing the other side," he added.

In corporate news, GM fell after a private equity group said it terminated its agreement to invest $2.55 billion in the company's largest auto parts supplier, Delphi Corp., which has been trying to emerge from bankruptcy protection. GM fell $1.01, or 4.7 percent, to $20.58.

On Friday, the Russell 2000 index of smaller companies rose 0.16, or 0.02 percent, to 713.73.

Overseas, Japan's Nikkei stock average fell 0.72 percent. Britain's FTSE 100 finished up 0.95 percent, Germany's DAX index rose 0.32 percent, and France's CAC-40 added 0.27 percent.

Associated Press Business Writer Eileen AJ Connelly in New York contributed to this report.

The Dow Jones industrial average ended the week up 393.02, or 3.22 percent, at 12,609.42. The Standard & Poor's 500 index finished up 55.18, or 4.20 percent, at 1,370.40. The Nasdaq composite index ended the week up 109.80, or 4.86 percent, at 2,370.98.

The Russell 2000 index finished the week up 30.55, or 4.47 percent, at 713.73.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 13,823.80, up 568.66 points, or 4.29 percent, for the week. A year ago, the index was at 14,595.10.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

the Dow Jones industrial average rose 3.01, or 0.02 percent, to 12,612.43, after rising more than 120 points earlier in the day.

The NYSE DOW closed HIGHER by +3.01 points	+0.02% on Monday April 7

Sym Last........ ........Change..........
Dow	12,612.43	+3.01	+0.02%
Nasdaq	2,364.83	-6.15	-0.26%
S&P 500	1,372.54	+2.14	+0.16%
30-yr Bond	4.3690%	+0.0510

NYSE Volume	3,699,879,500
Nasdaq Volume	1,729,978,875

*Overseas*
Japan's Nikkei stock average rose 1.18 percent. Britain's FTSE 100 added 1.14 percent, Germany's DAX index rose 0.85 percent, and France's CAC-40 rose 0.89 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,014.80	+67.70	+1.14%
DAX	6,821.03	+57.64	+0.85%
CAC 40	4,944.60	+43.72	+0.89%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,450.23	+157.01	+1.18%
Hang Seng	24,578.76	+314.13	+1.29%

http://biz.yahoo.com/ap/080407/wall_street.html
*Stocks Finish Mixed Ahead of Earnings*
Monday April 7, 4:46 pm ET
By Madlen Read, AP Business Writer
*Stocks Narrowly Mixed Ahead of Earnings; Banks Up on Possible $5 Billion Investment in WaMu*

NEW YORK (AP) -- Wall Street started the week with a mixed performance Monday, with many investors moving to the sidelines as they wait for quarterly profit reports.

Stocks had popped higher in earlier trading, encouraged by talk of a $5 billion private equity investment in Washington Mutual Inc. The nation's largest thrift is reportedly in discussions with buyout shop TPG Inc. and other investors about selling a stake in itself in return for cash.

But with earnings on tap and the Federal Reserve issuing minutes from its March meeting on Tuesday, the stock market pulled back cautiously.

The broader market started selling off when the Standard & Poor's 500 index began approaching the levels where it stood before Wall Street's massive selloff in early March, noted Ryan Detrick, senior technical strategist at Schaeffer's Investment Research.

"When the market closes, first-quarter earnings kick up -- it looks like people are taking money off the table ahead of those," Detrick said. "We had a good rally. We're thinking the next major driver will be those earnings reports."

After trading ended, aluminum maker Alcoa Inc. reported that its net income fell 54 percent in the first quarter compared to the same period a year ago. The results missed analysts' forecasts.

According to preliminary calculations, the Dow Jones industrial average rose 3.01, or 0.02 percent, to 12,612.43, after rising more than 120 points earlier in the day.

Broader stock indicators finished mixed. The S&P 500 index closed up 2.14, or 0.16 percent, at 1,372.54, after rising as high as 1,386.74. The Nasdaq composite index fell 6.15, or 0.26 percent, to 2,364.83.

Government bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, jumped to 3.55 percent from 3.47 percent late Wednesday.

Though the stock market has not recovered all the ground it lost in March, when the credit crisis reached a critical point and led to the buyout of Bear Stearns Cos., investors launched a strong comeback last week. Wall Street is growing more optimistic that stocks and the companies that issue them may be starting to rebound from a long slump due to tight credit and a sluggish economy.

"Overall, I'm getting the sense here that the Street is starting to focus on fundamentals and the timing of a potential recovery in the economy, and trying to move past the credit crisis," said Craig Peckham, market strategist at Jefferies & Co.

That's not to say the market volatility seen over the past several months has subsided for good, however. As earnings pour in over the next couple weeks, it's possible investors could grow anxious again -- especially if banks reveal bigger losses than expected, Peckham said, and in more types of debt than anticipated.

Alcoa's results might stir some of that anxiety. The company said it earned 37 cents per share in the first quarter, compared to analysts' expectations of 48 cents. The company's stock was down $1.56, or 4 percent, at $37.44 in regular trading and fell further in after-hours dealings.

But there were many signs during the day that Wall Street was feeling more optimistic.

After news that Washington Mutual might sell a stake for cash -- a move that other banks such as Citigroup Inc., Merrill Lynch & Co. and Morgan Stanley have also made -- WaMu shares shot up $2.98, or 29 percent, to $13.15. Other banks rose as well; Merrill rose $1.30, or 2.8 percent, to $47.55, and Bear Stearns rose 20 cents to $10.67 and Goldman Sachs rose $3.33 to $178.73.

In other dealmaking news, Swiss pharmaceutical maker Novartis AG said it will spend about $38 billion in a two-step bid for a majority stake in U.S. eye-care company Alcon Inc. Alcon rose $2.19 to $150.63, and Novartis fell $2.12, or 4 percent, to $50.

Discover Financial Services LLC said it was buying the Diners Club International card network from Citigroup Inc. for $165 million. Discover rose 95 cents, or 5.5 percent, to $18.09, while Citi rose 52 cents, or 2.2 percent, to $24.60.

And Microsoft Corp. gave Yahoo Inc. a three-week deadline to agree to a takeover, or, Microsoft said, it would launch a proxy fight for control of the company. Yahoo fell 66 cents, or 2.3 percent, to $27.70, while Microsoft closed flat at $29.16. Yahoo said the deal isn't in the best interests of its shareholders, and called Microsoft's proxy threat counterproductive.

Last week, stocks advanced as investors found relief in reports that Lehman Brothers Holdings Inc. and Switzerland's UBS AG are selling stock to raise cash and Merrill Lynch & Co. believes it has sufficient cash to continue operating. Despite a report Friday showing the third straight month of job losses in March, the Dow finished last week up 3.22 percent, the S&P 500 index rose 4.86 percent, and the Nasdaq rose 4.20 percent.

Even as Martin Feldstein, chief executive of the National Bureau of Economic Research, said Monday on CNBC he personally believes the U.S. economy has been slipping into recession since January, stocks largely held onto those gains. The NBER has not officially decided whether the economy is in recession, and normally is not able to until after the fact.

Light, sweet crude rose $2.70 to $108.93 a barrel on the New York Mercantile Exchange. Gold prices also increased, and the dollar gained against most other major currencies.

Advancing issues outnumbered decliners by about 9 to 7 on the New York Stock Exchange, where volume came to a light 1.27 billion shares.

The Russell 2000 index of smaller companies fell 1.05, or 0.15 percent, to 712.68.

Overseas, Japan's Nikkei stock average rose 1.18 percent. Britain's FTSE 100 added 1.14 percent, Germany's DAX index rose 0.85 percent, and France's CAC-40 rose 0.89 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

-----------------------------------------------------------------------
THE DOW's DAILY MOVEMENTS HAS BEEN SMALL SINCE APRIL1!!
 +391.47 points +3.19% on Tuesday April 1
 -48.53 points -0.38% on Wednesday April 2
 +20.20 points +0.16% on Thursday April 3
 -16.61 points -0.13% on Friday April 4
 +3.01 points +0.02% on Monday April 7
-35.99 points -0.29% on Tuesday April 8
-----------------------------------------------------------------------

The NYSE DOW closed LOWER by -35.99 points	-0.29% on Tuesday April 8

Sym Last........ ........Change..........
Dow	12,576.44	-35.99	-0.29%
Nasdaq	2,348.76	-16.07	-0.68%
S&P 500	1,365.54	-7.00	-0.51%
30-yr Bond	4.3830%	+0.0140

NYSE Volume	3,527,619,750
Nasdaq Volume	1,662,376,250

*Overseas*
Japan's Nikkei stock average fell 1.49 percent. Britain's FTSE 100 slid 0.41 percent, Germany's DAX index lost 0.72 percent, and France's CAC-40 dropped 0.65 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,990.20	-24.60	-0.41%
DAX	6,771.98	-49.05	-0.72%
CAC 40	4,912.69	-31.91	-0.65%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,250.43	-199.80	-1.49%
Hang Seng	24,311.69	-267.07	-1.09%

http://biz.yahoo.com/ap/080408/wall_street.html
*Stocks Fall After Earnings, Fed Minutes*
Tuesday April 8, 4:36 pm ET
By Madlen Read, AP Business Writer
*Wall Street Pulls Back Following Worse-Than-Expected Profit Data, Minutes From Federal Reserve*

NEW YORK (AP) -- Wall Street retreated Tuesday after aluminum producer Alcoa Inc. and chip maker Advanced Micro Devices Inc. issued disappointing reports and the Federal Reserve voiced concerns about the slumping economy.

Stocks were already lower on worries about weak first-quarter earnings when the minutes from the Fed's March 18 meeting were released. The minutes showed that some central bank officials, who forecast that the economy would contract during the first half, were concerned about the possibility of a "prolonged and severe" business downturn.

The minutes also indicated that Fed officials were conflicted over how much more interest rates could be reduced at the expense of higher inflation. The combination of a slow economy but not much more room for interest rate cuts at first rattled investors and sent the Dow Jones industrials down to a loss of 86 points, although the blue chips regained some ground in the final hour of trading.

The market's overall steadiness indicated to analysts that investors are more levelheaded than they were just a few weeks ago, when the global banking system was in crisis mode.

But corporate reports at the start of first-quarter earnings season were nonetheless troubling. Given a 54 percent drop in Alcoa's first-quarter profit, a 15 percent drop in AMD's first-quarter sales and a lowered profit outlook at rival chip maker Novellus Systems Inc., it appears to some on Wall Street that they might have to pare back their profit estimates for this year.

"While investors had a pretty much washed-out, pessimistic view of the economy, those investors also had an unrealistic view on earnings ... It seems investors are conflicted between their pessimism on the economy and their optimism on earnings," said Jack A. Ablin, chief investment officer at Harris Private Bank. "The good news is, we've moved away from emotional, jittery trading to a reconciliation of values. The market is substantially more rational than it was."

According to preliminary calculations, the Dow fell 35.99, or 0.29 percent, to 12,576.44.

Broader stock indicators also dropped. The Standard & Poor's 500 index fell 7.00, or 0.51 percent, to 1,365.54, and the Nasdaq composite index fell 16.07, or 0.68 percent, to 2,348.76, taking a larger hit because of concerns about high-tech companies following the news from AMD and Novellus.

Government bonds were little changed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, ended at 3.56 percent, up 1.7 percent from Monday's close.

The International Monetary Fund said Tuesday that despite "unprecedented intervention" by the Fed and other central banks, "financial markets remain under considerable strain." The group estimated that potential credit-related losses for the financial industry had reached $945 billion as of March -- a "staggering number," said Hugh Johnson, chief investment officer of Johnson Illington Advisors.

The credit markets have been performing much better after rate moves and massive lending efforts by the Fed, but many experts say it will be hard for the markets to loosen further with the housing market still on the decline. The National Association of Realtors said Tuesday that February's pending home sales fell by 1.9 percent compared to January, worse than many analysts had predicted.

The fallout from the credit crisis -- which had its beginnings in the housing slump -- continued Tuesday, troubling some investors who had sent stocks soaring last week on the growing belief that the worst of the credit crisis has passed.

Washington Mutual Inc. said it is raising $7 billion by selling a stake to a private equity investment group, but the Seattle-based thrift also said it will lose $1.1 billion during the first quarter, stash away $3.5 billion for loan losses and cut its quarterly dividend to shareholders to a penny from 15 cents.

WaMu shares fell $1.34, or 10.2 percent, to $11.81.

Meanwhile, a day after its disappointing earnings report, Alcoa fell 26 cents to $37.18, having dropped 4 percent Monday ahead of its earnings release.

AMD shares fell 31 cents, or 4.9 percent, to $6.03, and Novellus fell $1.93, or 8.1 percent, to $21.88.

Light, sweet crude fell 59 cents to settle at $108.50 a barrel on the New York Mercantile Exchange. Gold prices closed down, while the dollar traded mixed against other major currencies.

The Russell 2000 index of smaller companies fell 0.76, or 0.11 percent, to 711.92.

Declining issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where volume came to 1.2 billion shares.

Overseas, Japan's Nikkei stock average fell 1.49 percent. Britain's FTSE 100 slid 0.41 percent, Germany's DAX index lost 0.72 percent, and France's CAC-40 dropped 0.65 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

-----------------------------------------------------------------------
A RED DAY YESTERDAY
-----------------------------------------------------------------------

The NYSE DOW closed LOWER by -49.18 points -0.39% on Wednesday April 9

Sym Last........ ........Change..........
Dow 12,527.26 -49.18 -0.39% 
Nasdaq 2,322.12 -26.64 -1.13% 
S&P 500 1,354.49 -11.05 -0.81% 
10 Yr Bond(%) 3.4660% -0.0920 

*Overseas*
Japan's Nikkei stock average fell 1.05 percent. Britain's FTSE 100 closed down 0.11 percent, Germany's DAX index declined 0.75 percent, and France's CAC-40 fell 0.77 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,983.90 -6.30 -0.11% 
DAX 6,721.36 -50.62 -0.75% 
CAC 40 4,874.97 -37.72 -0.77% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,111.89 -138.54 -1.05% 
Hang Seng 23,984.57 -327.12 -1.35% 
Straits Times 3,089.72 -40.70 -1.30% 

http://biz.yahoo.com/ap/080409/wall_street.html
*Stocks Fall As Oil Jumps; UPS Warns*
Wednesday April 9, 5:43 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks Fall Following Jump in Oil, UPS Profit Warning; Investors Face Concerns About Economy *

NEW YORK (AP) -- Wall Street extended its losses Wednesday as a rise in oil prices and a profit warning from United Parcel Service Inc. raised investors' anxiety about the well-being of the economy.

Technology names were among the steepest decliners, with the tech-dominated Nasdaq composite index falling more than 1 percent. 

The surge in oil prices weighed on transportation stocks and contributed to a pessimistic tone in the market. Crude prices jumped following a government report showing U.S. inventories fell by more than expected last week. The rise hurt shares of airline and trucking companies, which have already struggled with high fuel costs.

UPS, the world's largest shipping carrier, pointed to a weaker economy and higher fuel costs in trimming its forecast. Investors earlier this week received reports from aluminum producer Alcoa Inc. and chip maker Advanced Micro Devices Inc. that have made the market uneasy about overall first-quarter results.

Joe Kinahan, chief derivatives strategist for the brokerage service Thinkorswim Group Inc., said investors are nervous about the implications, including inflation, of higher oil prices. Still, he said the relative calmness seen in the markets in recent sessions is impressive even as investors remain cautious about the economy.

"It's the first week we have had in a while where stocks are trading on their own merit. That's why we're trading on oil," he said. "It's amazing how well the market has held in there with three days of not good news."

The Dow Jones industrial average fell 49.18, or 0.39 percent, to 12,527.26.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 11.05, or 0.81 percent, to 1,354.49, and the Nasdaq declined 26.64, or 1.13 percent, to 2,322.12.

The Russell 2000 index of smaller companies fell 13.54, or 1.90 percent, to 698.38.

Declining issues outnumbered advancers by more than 2 to 1 on the New York Stock Exchange, where consolidated volume came to 3.43 billion shares compared with 3.66 billion shares traded Tuesday.

Bond prices jumped as stocks declined. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.48 percent in late trading from 3.56 percent late Tuesday.

Light, sweet crude jumped $2.37 to settle at a record $110.87 a barrel on the New York Mercantile Exchange after earlier rising as high as $112.21. The previous record, set last month, was $111.80.

The rise in oil hurt transportation stocks. Three relatively small air carriers have filed for bankruptcy in as many weeks -- in part because of high fuel prices. Among airlines, Continental Airlines Inc. fell $1.66, or 7.6 percent, to $20.24, while trucking company J.B. Hunt Transport Service Inc. fell $1.92, or 6 percent, to $29.85.

Gold prices rose, while the dollar was mixed against other major currencies.

Bill Schultz, chief investment officer at McQueen, Ball & Associates in Bethlehem, Pa., said some investors have grown worried that profit warnings from companies like UPS could signal the economy is facing a tougher climb than some investors had speculated and that further disclosures could derail hopes for an economic recovery in the second half of the year.

"We know the first quarter is not going to be good. UPS is sort of indicating that maybe things are continuing to be not so positive out there," he said. "People are looking for clues more, I think, for the second half this year."

Despite the market's declines on Tuesday and Wednesday, investors don't appear fearful, Kinahan said.

He noted that the Chicago Board Options Exchange's volatility index, known as the VIX, and often referred to as the "fear index," remained below the important 25 level. It rose 0.47, or 2.1 percent, to 22.83 Wednesday. Kinahan contends readings in this range suggest investors are being careful but aren't succumbing to fear.

"Thirty is really the level where people are really, really frightened," he said. "We might be a little bit cautious here as to what's going to happen."

Kinahan added that technology shares showed steeper declines Wednesday than some other stocks because investors seemed uncertain about what the next catalyst might be to drive tech issues. He noted that while Apple Inc. has been a strong performer, investors seem to be wanting more reason to buy into the sector. Apple fell $1.40 to $151.44.

In corporate news, UPS' earnings forecast weighed on the stock. UPS warned at an investor conference last month that it might miss its earnings target if weakness seen in February didn't ease. UPS fell $2.74, or 3.7 percent, to $70.57.

AMR Corp. fell $1.15, or 11 percent, to $9.17 after its American Airlines canceled more than 1,000 flights as it inspects the wiring on some of its aircraft. The move comes a day after American canceled 460 flights after federal inspectors found problems in work done two weeks ago on wiring.

Boeing Co. delayed its 787 jetliner by another six months, pushing the aircraft's debut for commercial service to the third quarter next year. Still, some analysts had expected a greater delay. The stock, one of the 30 that comprise the Dow industrials, rose $3.58, or 4.8 percent, to $78.60 and helped contain the blue chips' losses.

Overseas, Japan's Nikkei stock average fell 1.05 percent. Britain's FTSE 100 closed down 0.11 percent, Germany's DAX index declined 0.75 percent, and France's CAC-40 fell 0.77 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER by +54.72 points	+0.44% on Thursday April 10

Sym Last........ ........Change..........
Dow	12,581.98	+54.72	+0.44%
Nasdaq	2,351.70	+29.58	+1.27%
S&P 500	1,360.55	+6.06	+0.45%
30-yr Bond	4.3420%	+0.0360

NYSE Volume	3,642,058,750
Nasdaq Volume	2,206,657,250

*Overseas*
Japan's Nikkei stock average dropped 1.27 percent. Britain's FTSE 100 fell 0.31 percent, Germany's DAX index fell 0.25 percent, and France's CAC-40 fell 0.32 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,965.10	-18.80	-0.31%
DAX	6,704.32	-17.04	-0.25%
CAC 40	4,859.42	-15.55	-0.32%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,945.30	-166.59	-1.27%
Hang Seng	24,187.10	+202.53	+0.84%
Straits Times	3,064.60	-25.12	-0.81%

http://biz.yahoo.com/ap/080410/wall_street.html
*Stocks Rise Despite Mixed Retail Data*
Thursday April 10, 4:37 pm ET
By Madlen Read, AP Business Writer
*Wall Street Shares Rise on Drop in Jobless Claims, Discount Retailer Sales*

NEW YORK (AP) -- Wall Street rose Thursday as investors bought back into stocks after two days of losses, encouraged by a drop in unemployment claims and a better-than-expected sales performance by discount retailers.

Although last week the Labor Department said the four-week average of initial unemployment claims rose to a two-and-a-half-year high, investors were pleased to hear that claims last week fell by more than expected, following a surge the previous week.

And while many retailers -- from Gap Inc. to Saks Inc. -- said Thursday that March sales slid as consumers grew more frugal, Wall Street was encouraged that other companies are weathering the economic weakness. Discount retailers Wal-Mart Stores Inc. and Costco Wholesale Corp., stores that sell staples like food and gasoline, reported sharp increases in March sales and indicated they expect sales to keep rising.

"The jobless claims snapped back down following the sharp rise last week. Combined with the news from Wal-Mart, it suggests that the consumer may be able to muddle through. That's providing some support for an otherwise strained market," said Alan Gayle, senior investment strategist for RidgeWorth Capital Management.

Questions about the health of the global financial system ahead of next week's bank earnings, however, continue to provide a troubling backdrop for the market. Lehman Brothers Holdings Inc. disclosed in a regulatory filing Wednesday that it liquidated three funds because of the tight credit markets and brought the assets of those funds, valued at $1 billion, onto its books Feb. 29. The investment bank said it also purchased deteriorated assets valued at $800,000 from other distressed funds.

"We think everything is better, and then we get another surprise. Every credit rock we turn over has something else crawl out from under it," Gayle said.

According to preliminary results, the Dow Jones industrial average rose 54.72, or 0.44 percent, to 12,581.98.

Broader stock indicators also advanced. The Standard & Poor's 500 index rose 6.06, or 0.45 percent, to 1,360.55, and the Nasdaq composite index rose 29.58, or 1.27 percent, to 2,351.70.

"This market is basically trying to look forward," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners Inc.

"There's a lot of negative factors," Cardillo said. Treasury Secretary Henry Paulson said in a speech Thursday that the economy has turned sharply lower, echoing comments by Federal Reserve Chairman Ben Bernanke, who has acknowledged the United States is probably in recession. But, Cardillo noted, "the market knows all of these things."

Government bonds fell as stocks rose. The 10-year Treasury note's yield, which moves opposite its price, rose to 3.53 percent from 3.48 percent late Wednesday.

The Nasdaq got a big boost after Japanese drug maker Takeda Pharmaceutical Co. announced an $8.8 billion, all-cash bid for U.S. biotechnology company Millennium Pharmaceuticals. Millennium soared $7.99, or 49 percent, to $24.34.

After surging to a record Wednesday, light sweet crude fell 76 cents to settle at $110.11 a barrel on the New York Mercantile Exchange.

The dollar regained ground after the Bank of England lowered its base lending rate by a quarter-point to 5 percent, the lowest level in 17 months, and the European Central Bank left its rates unchanged. Gold prices fell.

In other corporate news, Yahoo Inc. and Time Warner Inc.'s AOL are close to a deal to combine their Internet operations, according to published reports. The deal is aimed at thwarting Microsoft Corp.'s effort to buy Yahoo, but the software giant reportedly is talking with Rupert Murdoch's News Corp. about launching a joint bid for Yahoo.

Yahoo rose 82 cents, or 3 percent, to $28.59. Time Warner gained 18 cents to $14.61.

Microsoft added 22 cents to $29.11, while News Corp. gave up 9 cents to $19.44.

Wal-Mart rose 52 cents to $54.66 after reporting its sales figures, and Costco rose 49 cents to $66.52.

Lehman Brothers slipped 29 cents to $40.25 after the fund liquidations.

The Russell 2000 index of smaller companies rose 9.04, or 1.29 percent, to 707.42.

Advancing issues outnumbered decliners by just under 2 to 1 on the New York Stock Exchange, where volume came to 1.28 billion shares.

Overseas, Japan's Nikkei stock average dropped 1.27 percent. Britain's FTSE 100 fell 0.31 percent, Germany's DAX index fell 0.25 percent, and France's CAC-40 fell 0.32 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed LOWER by -256.56 points	-2.04% on Friday April 11

For the week, the Dow lost 2.3 percent, the S&P 500 declined 2.7 percent and the technology-heavy Nasdaq gave up 3.4 percent.

Wall Street stumbled Friday after a disappointing first-quarter report from General Electric Co. surprised the market and stoked concern about the health of both corporate profits and the wider economy. The major indexes fell more than 2 percent, with the Dow Jones industrials giving up more than 250 points.

Sym Last........ ........Change..........
Dow	12,325.42	-256.56	-2.04%
Nasdaq	2,290.24	-61.46	-2.61%
S&P 500	1,332.83	-27.72	-2.04%
30-yr Bond	4.3020%	-0.0400

NYSE Volume	3,665,479,750
Nasdaq Volume	1,900,548,880

*Overseas*
Japan's Nikkei stock average rose 2.92 percent. Britain's FTSE 100 closed down 1.17 percent, Germany's DAX index fell 1.50 percent, and France's CAC-40 finished off 1.27 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,895.50	-69.60	-1.17%
DAX	6,603.57	-100.75	-1.50%
CAC 40	4,797.93	-61.49	-1.27%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,323.73	+378.43	+2.92%
Hang Seng	24,667.79	+480.69	+1.99%

http://biz.yahoo.com/ap/080411/wall_street.html
Stocks Fall Sharply Following GE ResultsFriday April 11, 4:25 pm ET
By Tim Paradis, AP Business Writer
*Wall Street Sells Off After Disappointing GE Profits; Consumer Sentiment Reading Shows Unease*

NEW YORK (AP) -- Wall Street stumbled Friday after a disappointing first-quarter report from General Electric Co. surprised the market and stoked concern about the health of both corporate profits and the wider economy. The major indexes fell more than 2 percent, with the Dow Jones industrials giving up more than 250 points.

A weaker-than-expected reading showing consumer confidence at a 26-year low subdued any positive sentiment.

GE, which is regarded as a bellwether of big business, said its financial-services divisions have been challenged by the slowing U.S. economy and difficult capital markets. The company, whose orbit extends into entertainment, consumer and industrial manufacturing, finance and health care, also lowered its projections for the entire year.

The conglomerate is one of the early companies to post first-quarter results and its shortfall stirred worries that others still to report will paint a similarly dreary picture. The smaller-than-expected profits from GE injected anxiety into a market that earlier this week saw disappointing results from aluminum producer Alcoa Inc. and a warning from chip maker Advanced Micro Devices Inc.

"The market really is focusing on the extent to which problems in the credit markets are spilling over into the real economy," said Brian Gendreau, investment strategist for ING Investment Management in New York.

According to preliminary calculations, the Dow fell 256.56, or 2.04 percent, to 12,325.42. GE was by far the steepest decliner among the 30 stocks that comprise the Dow. Its shares dropped $4.70, or 13 percent, to $32.05.

Broader stock indicators also registered sizable losses. The Standard & Poor's 500 index fell 27.72, or 2.04 percent, to 1,332.83, and the Nasdaq composite index fell 61.46, or 2.6 percent, to 2,290.24.

The Russell 2000 index of smaller companies fell 19.26, or 2.72 percent, to 688.16.

Declining issues outnumbered advancers by about 4 to 1 on the New York Stock Exchange, where volume came to 1.26 billion shares compared with 1.28 billion shares traded Thursday.

Friday's pullback followed a comparatively quiet week in which the major indexes showed modest adjustments. Stocks were little changed Monday, declined Tuesday following profit warnings from names like United Parcel Service Inc. and posted moderate gains Thursday following a drop in unemployment claims.

For the week, the Dow lost 2.3 percent, the S&P 500 declined 2.7 percent and the technology-heavy Nasdaq gave up 3.4 percent.

Bond prices rose Friday as investors fearful of a slowing economy took up defensive positions in government debt. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.46 percent from 3.55 percent late Thursday.

Light, sweet crude rose 3 cents to settle at $110.14 per barrel on the New York Mercantile Exchange. The dollar was mixed against other major currencies, while gold prices fell.

A snapshot of a gloomy consumer added to recent reports showing Americans' confidence in the economy at new lows, dragged down by worries about mounting job losses, record-high home foreclosures and zooming energy prices.

Investors fear that nervous shoppers will be less willing to reach into their wallets -- an unwelcome prospect as consumer spending accounts for about 70 percent of U.S. economic activity.

The preliminary Reuters/University of Michigan index of consumer sentiment fell to 63.2 for April -- its lowest point since 1982 -- from 69.5 in March, according to Dow Jones Newswires. Economists polled by Thomson/IFR had, on average, expected a reading of 68.

"I think rationality is coming into the market," said Alan Lancz, director at investment research group LanczGlobal in Toledo, Ohio. "Every time we move up to test the upper end of the range, something seems to happen."

He noted that even if the most onerous times for the financial sector have passed, as some market watchers have said, the effects of a tight credit market will be felt for some time. Lancz said GE's results offer new evidence that forecasts for corporate profits in general remain too rosy given the troubles hitting businesses.

"They're facing a lot of headwinds that I don't think a lot of analysts have put into their numbers," he said.

Lancz contends that the Federal Reserve's moves last month to head off the collapse of Bear Stearns Cos. no doubt helped stabilize Wall Street -- but might have led some investors to become complacent about the scope of the troubles still facing the economy.

Linda Duessel, a market strategist at Federated Investors in Pittsburgh, noted that GE is known for its dependability in meeting Wall Street's forecasts, and the nearly 6 percent drop in its profits suggest that other first-quarter results next week could reveal weakness well beyond the financial industry.

"In the fourth quarter of last year the financials continued to tell us bad news and the rest of the sectors hung in extremely well," she said, adding that investors are now worried the weakness has spread.

"That company is known for being kind of a window to the market and the economy," she said of GE.

In other corporate news, Frontier Airlines Holdings Inc. filed for Chapter 11 bankruptcy protection. Unlike the three other airlines that have filed for bankruptcy in as many weeks, the carrier plans to keep operating while it reorganizes. Frontier ended down $1.09, or 69 percent, at 48 cents.

Overseas, Japan's Nikkei stock average rose 2.92 percent. Britain's FTSE 100 closed down 1.17 percent, Germany's DAX index fell 1.50 percent, and France's CAC-40 finished off 1.27 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

Stocks finished a quiet session moderately lower Monday as investors grappled with concerns about the health of corporate profits after Wachovia Corp. posted disappointing quarterly results.

The NYSE DOW closed LOWER by -23.36	points -0.19% on Mondy April 14

Sym Last........ ........Change..........
Dow	12,302.06	-23.36	-0.19%
Nasdaq	2,275.82	-14.42	-0.63%
S&P 500	1,328.32	-4.51	-0.34%
30-yr Bond	4.3410%	+0.0390

NYSE Volume	3,475,319,000
Nasdaq Volume	1,626,701,620

*Overseas*
Japan's Nikkei stock average fell 3.05 percent. Britain's FTSE 100 closed down 1.08 percent, Germany's DAX index fell 0.74 percent, and France's CAC-40 fell 0.66 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,831.60	-63.90	-1.08%
DAX	6,554.49	-49.08	-0.74%
CAC 40	4,766.49	-31.44	-0.66%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,917.51	-406.22	-3.05%
Hang Seng	23,811.20	-856.59	-3.47%

http://biz.yahoo.com/ap/080414/wall_street.html
*Stocks End Lower Amid Earnings Concerns*
Monday April 14, 4:43 pm ET
By Tim Paradis, AP Business Writer
*Stocks End Quiet Session Lower Following Disappointing Earnings, Improvement in Retail Sales*

NEW YORK (AP) -- Stocks finished a quiet session moderately lower Monday as investors grappled with concerns about the health of corporate profits after Wachovia Corp. posted disappointing quarterly results.

Investors appeared to be pausing following a sell-off Friday and ahead of a raft of quarterly results and economic data arriving this week.

Wachovia surprised investors by posting a first-quarter loss of $393 million and cut its quarterly dividend by 41 percent to 37.5 cents. The bank, which analysts had expected to post a profit, also said it plans to raise $7 billion through a stock offering.

But investors appeared to find some encouragement in the session from a better-than-expected report on retail sales. The Commerce Department's reading on March retail sales, which showed a modest 0.2 percent rise following February's 0.6 percent decline, appeared to quell some unease about the economy. The March figure bested the flat reading analysts had predicted. Excluding a 1.1 percent rise at gasoline service stations, retail sales would have been flat last month -- and possibly negative when adjusted for inflation.

"We obviously came out with more bad financial news," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research, referring to the Wachovia report. "The flip side is we had retail sales come in a little better than expected. It seems like they kind of negated each other."

According to preliminary calculations, the Dow Jones industrial average fell 23.36, or 0.19 percent, to 12,302.06.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 4.51, or 0.34 percent, to 1,328.32, and the technology-laden Nasdaq composite index fell 14.42, or 0.63 percent, to 2,275.82.

Declining issues outpaced advancers by about 3 to 2 on the New York Stock Exchange, where volume came to 1.18 billion shares compared with 1.26 billion shares traded Friday.

Bond prices edged lower. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.50 percent from 3.48 percent late Friday.

Light, sweet crude rose $1.62 to settle at a record $111.76 per barrel as the dollar fell, helping drive prices higher.

Gold prices turned higher, and the dollar was mixed against other major currencies.

Investors sold off shares of financials, led by Wachovia, which fell $2.26, or 8 percent, to $25.55. Citigroup Inc., which is due to report its quarterly results Friday, fell 85 cents, or 3.6 percent, to $22.51.

Detrick noted that the Wachovia news compounded investors' concerns about the banking sector following a report Friday from General Electric Co. GE, seen as a bellwether of big business, said its financial services business was challenged in the first quarter by the slowing U.S. economy and difficult capital markets. The conglomerate's disappointing first-quarter sent the major indexes down by more than 2 percent Friday.

"This is just more bad news for financials. It just confirms that the financials are by no means out of the woods yet," Detrick said of Wachovia.

He contends many investors are holding off any major moves ahead of corporate results and economic figures on inflation due later in the week.

"Today just seems like just a break from the massive selling we saw Friday. We want more confirmation from companies reporting earnings this week if indeed earnings are going to weak or if the first inning was just a bad start to the game," he said in reference to the early first-quarter results.

In dealmaking news, Blockbuster Inc. said it is taking an unsolicited $1 billion-plus bid for Circuit City Stores Inc. directly to shareholders. Blockbuster said the consumer electronics chain has dragged out a deal that has been under negotiations for months. Circuit City jumped $1.07, or 27 percent, to $4.97, while Blockbuster fell 32 cents, or 10 percent, to $2.81.

Meanwhile, Northwest Airlines Corp. pilots have threatened to oppose a combination with Delta Air Lines Inc., but officials were nonetheless mobilizing to announce a deal to create the world's biggest airline as early as Tuesday -- provided the boards of the two companies give final approval to the deal, people familiar with the talks said Sunday. Northwest rose 26 cents to $11.22, while Delta advanced 47 cents, or 4.7 percent, to $10.48.

And in a sign that the slumping U.S. economy is hurting companies overseas, Royal Philips Electronics reported a sharp drop in first-quarter profits as a decrease in television sales in North America offset growth in its health care and lighting industries.

The Russell 2000 index of smaller companies fell 2.09, or 0.30 percent, to 686.07.

Overseas, Japan's Nikkei stock average fell 3.05 percent. Britain's FTSE 100 closed down 1.08 percent, Germany's DAX index fell 0.74 percent, and France's CAC-40 fell 0.66 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

*A GREEN DAY ALL OVER!!!!*

Wall Street closed an erratic session moderately higher Tuesday after investors sorted through a mixed batch of data that included a rebound in New York manufacturing, signs of rising inflation and uneven first-quarter earnings. The market also had its eye on the rising price of crude oil.

The NYSE DOW closed HIGHER by +60.41	points +0.49% on Tuesday April 15

Sym Last........ ........Change..........
Dow	12,362.47	+60.41	+0.49%
Nasdaq	2,286.04	+10.22	+0.45%
S&P 500	1,334.43	+6.11	+0.46%
30-yr Bond	4.4050%	+0.0640

NYSE Volume	3,540,285,250
Nasdaq Volume	1,844,963,875

*Overseas*
Japan's Nikkei stock average rose 0.77 percent. Britain's FTSE 100 rose 1.29 percent, Germany's DAX index rose 0.47 percent, and France's CAC-40 rose 0.30 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,906.90	+75.30	+1.29%
DAX	6,585.05	+30.56	+0.47%
CAC 40	4,780.68	+14.19	+0.30%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,990.58	+73.07	+0.57%
Hang Seng	23,901.33	+90.13	+0.38%
Straits Times	3,056.49	+13.53	+0.44%

http://biz.yahoo.com/ap/080415/wall_street.html
*Stocks rise in erratic trading after economic, earnings data*
Tuesday April 15, 4:44 pm ET
By Madlen Read, AP Business Writer
*Wall Street advances after gains in inflation, recovery in NY manufacuring, mixed earnings*

NEW YORK (AP) -- Wall Street closed an erratic session moderately higher Tuesday after investors sorted through a mixed batch of data that included a rebound in New York manufacturing, signs of rising inflation and uneven first-quarter earnings. The market also had its eye on the rising price of crude oil.

Following a spate of disappointing readings on the economy, investors were pleased that the New York Federal Reserve reported regional manufacturing expanded modestly in April, after shrinking at a record clip in March. The market had expected another contraction.

And in a positive sign for earnings, health care products maker Johnson & Johnson said its first-quarter profit jumped 40 percent on rising sales and declining costs. Results from the maker of consumer staples ranging from baby shampoo to pharmaceuticals came as a relief to investors, who have been unimpressed by most first-quarter earnings so far.

Still, the market remains anxious about inflation. As crude oil prices surged to a record $114 a barrel, and retail gasoline and diesel prices reached new highs, the Labor Department's Producer Price Index registered a much higher-than-anticipated 1.1 percent rise for March. The core index, which strips out food and energy prices, rose by 0.2 percent, as expected.

Core producer price increases have slowed over the past three months, so most investors are not too worried that inflation will keep the Federal Reserve from lowering interest rates again if the economy weakens further. However, food and energy prices keep soaring, so consumers have been paring back their discretionary spending to afford necessities -- and that is hurting some corporate profits.

"My guess is people are still really concerned about the inflation impact down the road. If oil stays where it is, it's going to be a problem," said Philip S. Dow, managing director of equity strategy at RBC Dain Rauscher in Minneapolis.

According to preliminary calculations, the Dow Jones industrial average closed up 60.41, or 0.49 percent, at 12,362.47.

Broader stock indicators also advanced. The Standard & Poor's 500 index rose 6.11, or 0.46 percent, to 1,334.43, while the Nasdaq composite index added 10.22, or 0.45 percent, to 2,286.04.

Bond prices fell in response to the inflation and manufacturing news. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.57 percent from 3.51 percent late Monday.

High oil prices are one reason Wall Street is pessimistic about the airline industry. Delta Air Lines Inc.'s and Northwest Airlines Corp.'s combination to create the world's largest carrier weighed on the stock market Tuesday, with investors uneasy about the all-stock deal. Delta fell $1.46, or 14 percent, to $9.02, while Northwest fell $1.121, or 10 percent, to $10.10.

Johnson & Johnson slipped 9 cents to $65.65, but the company's earnings were a refreshing surprise for the market, RBC's Dow said. And despite everything that has happened this year with the global financial system and the economy, he added, the stock market has not fallen a full 20 percent from its highs last year, the traditional indication of a bear market.

"There's no shortage of things to worry about, but it seems to me that most people in equities have thought about selling or have sold. There's a much larger population that's sold than not," Dow said. "It's a time when if you're willing to be patient, there are some pretty attractive valuations right now."

Banks are looking particularly cheap. On Tuesday, a mild recovery in financial stocks, including Citigroup Inc. and JPMorgan Chase & Co., after a string of down days for the banks, helped lift the broader stock market.

"Financials have stabilized today, which is a good thing," said Todd Leone, managing director of equity trading at Cowen & Co. "They've been backing and filling. I wouldn't say the worst is over with these stocks, but I think they've become more transparent."

JPMorgan releases its first-quarter results on Wednesday, Citigroup reports Friday, and Bank of America Corp. reports next week. JPMorgan rose 62 cents to $42.12; Citi added 29 cents to $22.80; and BofA ended unchanged at $35.58.

Overall, Tuesday's trading was fairly quiet, with investors cautious about making big bets ahead of earnings later this week and next.

"There's no real prevailing theme to the market right now," Leone said. "They're waiting for a whole slew of earnings."

Gold prices rose, while the dollar fell against other major currencies.

The Russell 2000 index of smaller companies rose 5.99, or 0.87 percent, to 692.06.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where volume came to a light 1.2 billion shares.

Overseas, Japan's Nikkei stock average rose 0.77 percent. Britain's FTSE 100 rose 1.29 percent, Germany's DAX index rose 0.47 percent, and France's CAC-40 rose 0.30 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

*80 minutes to go to close today and looking great +177.98 points	+1.44%*

Sym Last........ ........Change..........
Dow	12,540.45	+177.98	+1.44%
Nasdaq	2,335.44	+49.40	+2.16%
S&P 500	1,355.13	+20.70	+1.55%
30-yr Bond	4.5290%	+0.1240

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,046.20	+139.30	+2.36%
DAX	6,702.84	+117.79	+1.79%
CAC 40	4,855.10	+74.42	+1.56%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,146.13	+155.55	+1.20%
Hang Seng	23,878.35	-22.98	-0.10%
Straits Times	3,087.49	+31.00	+1.01%

http://biz.yahoo.com/ap/080416/wall_street.html
*Wall Street surges higher after upbeat earnings reports*
Wednesday April 16, 2:28 pm ET
By Joe Bel Bruno, AP Business Writer
*Stocks stage big rally after earnings from Intel, JPMorgan, Coca-Cola ease profit anxiety*

NEW YORK (AP) -- Wall Street rallied Wednesday after better-than-expected quarterly results from JPMorgan Chase & Co. and two other Dow Jones industrials raised investors' hopes that companies and the economy are recovering from the protracted global credit crisis. The blue chip index rose 170 points.

Investors anxious about corporate earnings and their impact on the economy were relieved after JPMorgan, Coca-Cola Co., and Intel Corp. all topped first-quarter projections. The three companies are among dozens of others that will post quarterly results Wednesday.

The battered financial sector advanced after JPMorgan beat analysts' expectations despite a 50 percent drop in quarterly profit. The nation's third-biggest bank, which is in the process of acquiring ailing Bear Stearns Cos., reported $2.6 billion of write-downs tied to its loan portfolio.

"You have a combination of JPMorgan and all these other strong earnings out there from a broad range sectors, and that's helping the buying we're seeing," said Todd Salamone, director of trading and vice president of research at Schaeffer's Investment Research. "There's an unwinding of all the negativity that we saw ahead of the earnings season."

Salamone and other analysts have been hoping that strength in corporate earnings would act as a catalyst for a significant rally; the market has managed a choppy assent since hitting lows in early March. Investors have been growing more confident in recent weeks that the Federal Reserve's efforts to boost the economy and the troubled credit markets are working.

In addition to earnings reports, Wall Street weighed sluggish economic reports on inflation and housing that were mostly within expectations. The Federal Reserve also released its Beige Book report which said the economy is weakening amid a softening labor market.

In midafternoon trading, the Dow rose 169.68, or 1.37 percent, to 1,532.15. The index is up more than 700 points from a low near 11,740, reached March 10.

Broader markets also gained. The Standard & Poor's 500 index rose 19.66, or 1.47 percent, to 1,354.09; and the Nasdaq composite index added 49.36, or 2.16 percent, to 2,335.40.

Bond prices fell as stocks looked more attractive. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.66 percent from 3.57 percent late Tuesday.

Oil prices -- which crossed $114 for the first time on Tuesday -- rose after a government report showed crude-oil inventories fell unexpectedly last week for the second straight period. Light, sweet crude added 15 cents to $113.94 a barrel on the New York Mercantile Exchange.

Gold prices rose, and the dollar was mostly lower against other major currencies.

JPMorgan rose $2.08, or 4.9 percent, to $44.20 after issuing its quarterly report. Chief Executive Jamie Dimon said the bank is well capitalized and has enough liquidity to handle difficult market conditions, but did not call an end to the credit crisis like other bank CEOs have in recent weeks.

Bank of America Corp. rose $1.10, or 3.1 percent, to $36.69, while Wells Fargo Corp., which also beat earnings expectations, rose $1.44, or 5.2 percent, to $29.24.

"We got a nice rally here and that's because of the financials, they are holding their gains," said Todd Leone, managing director of equity trading at Cowen & Co. "They have helped out the market and are a real driver."

Dow component Intel rose $1.23, or 5.9 percent, to $22.13 after reporting late Tuesday that quarterly profit matched analysts' expectations and sales topped projections. Intel also issued a forecast that kept profit-margin predictions for 2008 intact.

Meanwhile, Coca-Cola reported first-quarter profit of 19 percent on a 21 percent increase in sales. Results easily surpassed Wall Street expectations, and shares rose 13 cents to $61.07.

Wall Street had little reaction to a new batch of disappointing economic data, and by comments from Federal Reserve Bank of San Francisco President Janet Yellen that the economy has stalled. Many investors have already tempered their expectations about the economy, and were not surprised by more bad news.

Government data showed that consumer inflation pushed higher last month as increases in energy, food and airline tickets overwhelmed the biggest drop in clothing prices in nearly a decade. The Labor Department reported consumer prices rose 0.3 percent in March after being unchanged in February.

Core inflation, which excludes food and energy, posted a 0.2 percent rise. Both the overall increase and the rise in core prices were in line with analysts' expectations.

Meanwhile, home construction plummeted during March to its lowest level in 17 years, the government said in a report signaling that the housing sector will continue slumping. Housing starts decreased 11.9 percent to a seasonally adjusted 947,000 annual rate, after falling 0.7 percent in February to 1.075 million, according to the Commerce Department.

The Russell 2000 index of smaller companies rose 15.57, or 2.25 percent, to 707.63.

Advancing issues led decliners by a 3 to 1 basis on the New York Stock Exchange, where volume came to 759 million shares.

Overseas, Japan's Nikkei stock average rose 1.20 percent. Britain's FTSE 100 rose 2.36 percent, Germany's DAX index was up 1.79 percent, and France's CAC-40 added 1.56 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

All Ordinaries: 5,587.4  only UP 52.8 points at 3:44 PM
-- I would have expected the All Ordinaries to be much higher than 52.8 points!!!!!!!!!!

The NYSE DOW closed HIGHER by +256.80 points +2.08% on Wednesday April 16

Sym Last........ ........Change..........
Dow 12,619.27 +256.80 +2.08% 
Nasdaq 2,350.11 +64.07 +2.80% 
S&P 500 1,364.71 +30.28 +2.27% 
30-yr Bond 4.5250% 0.0000 

NYSE Volume 4,261,347,500 
Nasdaq Volume 2,151,148,500 

http://biz.yahoo.com/ap/080416/wall_street.html
*Wall Street surges higher after upbeat earnings reports*
Wednesday April 16, 5:54 pm ET 
By Joe Bel Bruno, AP Business Writer  
*Stocks stage big rally after earnings from Intel, JPMorgan, Coca-Cola ease profit anxiety *

NEW YORK (AP) -- Wall Street rallied Wednesday after better-than-expected quarterly results from JPMorgan Chase and two other Dow Jones industrials raised investors' hopes that companies and the economy are indeed recovering from the protracted global credit crisis. The Dow rose more than 250 points as investors shrugged off any concerns about oil passing $115 a barrel for the first time.

A market anxious about corporate earnings and their effect on the economy was relieved after JPMorgan Chase & Co., Coca-Cola Co. and Intel Corp. all topped first-quarter projections. The three companies are among dozens posting quarterly results Wednesday.

The battered financial sector advanced after JPMorgan beat analysts' expectations despite a 50 percent drop in quarterly profit. The nation's third-biggest bank, which is in the process of acquiring ailing Bear Stearns Cos., reported $2.6 billion of write-downs tied to its loan portfolio.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER by +228.87 points +1.81% on Friday April 18

Sym Last........ ........Change..........
Dow 12,849.36 +228.87 +1.81% 
Nasdaq 2,402.97 +61.14 +2.61% 
S&P 500 1,390.33 +24.77 +1.81% Wall Street jumps as investors weigh Citi, Google results
Friday April 18, 5:28 pm ET 
By Tim Paradis, AP Business Writer  
Stocks jump as investors find relief in Citigroup, Google first-quarter results 


NEW YORK (AP) -- Wall Street topped off a strong week with a big rally Friday, after results from companies like Citigroup Inc. and Google Inc. helped ease investor anxiety about the health of corporate profits.

Investors have been worried that recent data indicate a slowing economy, which would cut into profit growth at some of the nation's biggest companies. But, results so far have shown that earnings, for the most part, are meeting or beating expectations, and the major indexes all posted gains of more than 4 percent for the week.

Citigroup, the nation's biggest bank, encouraged investors with results that didn't contain any big surprises. The New York-based bank reported a loss of $5.1 billion during the first quarter because of poor bets on mortgages and leveraged loans, but the loss was half the $10 billion recorded for the preceding quarter.

Google helped boost investor sentiment, as well as the tech-heavy Nasdaq composite index, by reporting first-quarter earnings and revenue growth that handily topped analysts' predictions.

"This is the first week of earnings reports, and the marquee companies in general have been able to report good earnings, and the banks have been able to raise capital, and the market is responding to that," said Subodh Kumar, global investment strategist at Subodh Kumar & Assoc. in Toronto.

The Dow Jones industrial average jumped 228.87, or 1.81 percent, to 12,849.36.

Broader stock indicators also showed sizable advances. The Standard & Poor's 500 index increased 24.77, or 1.81 percent, to 1,390.33, and the Nasdaq rose 61.14, or 2.61 percent, to 2,402.97.

Advancing issues outnumbered decliners by more than 3 to 1 on the New York Stock Exchange, where volume came to 1.48 billion shares compared with 1.23 billion shares traded Thursday.

The gains come at the end of a big week for stocks. After a quiet start to the week, the major indexes surged more than 2 percent Wednesday after JPMorgan Chase & Co., Intel Corp. and Coca-Cola Co. reported better-than-expected profits. Stocks then finished mixed Thursday, largely holding their gains. For the week, the Dow rose 4.25 percent, the S&P 500 gained 4.31 percent and the Nasdaq jumped 4.92 percent.

Bond prices rose after initially declining when stocks rallied. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.71 percent from 3.73 percent late Thursday.

And investors appeared unfazed by the latest spike in energy prices. Oil jumped to $117 a barrel for the first time when a militant group in Nigeria said it sabotaged a major oil pipeline.

Light, sweet crude for May delivery rose to a new trading record of $117 in after-hours electronic trading Friday, after settling up $1.83 at a record $116.69 a barrel on the New York Mercantile Exchange. It was the fifth day in a row crude prices set new records.

Meanwhile, a survey of gas stations by AAA and the Oil Price Information Service found that the national average price of regular gas rose 2.7 cents overnight to a record $3.445 a gallon.

Gold prices fell, while the dollar was mixed against other major currencies.

Kumar contends that while investors appear upbeat following the stronger-than-expected quarterly reports, Wall Street will likely still bounce around for some time as it tries to get a read on the fate of the economy.

"The market is trying to find a bottom and that's why you're seeing these volatile days," he said. "I think before one can say that the markets are ready to make a sustained move upward, you have to look at the negative side," he said, pointing to high prices for oil and food.

He also emphasized that it was still early in the earnings-reporting period.

Doug Roberts, chief investment strategist at Channel Capital Research, also believes the market is engaged in the sometimes messy process of establishing a base.

"My sense is, at least short term, we've reached some kind of a bottom," he said. "There was just so much pessimism built into everything."

Unease did appear to dissipate. Wall Street's "fear index" -- the Chicago Board Options Exchange's volatility index -- declined 1.2 percent Friday.

On a day with little economic news, corporate reports peeled away some of Wall Street's worries.

Citigroup closed up $1.08, or 4.5 percent, to $25.11, while Google surged $89.87, or 20 percent, to $539.41 after the companies issued their reports.

Heavy equipment maker Caterpillar Inc. rose $6.69, or 8.5 percent, to $85.28 after reporting that demand for its global mining and energy products drove first-quarter earnings up a better-than-expected 13 percent. The company also affirmed its 2008 forecast.

The Russell 2000 index of smaller companies rose 13.07, or 1.9 percent, to 721.07.

Overseas, Japan's Nikkei stock average rose 0.58 percent. Britain's FTSE 100 finished up 1.27 percent, Germany's DAX index rose 2.41 percent, and France's CAC-40 rose 2.05 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com



30-yr Bond 4.5170% -0.0070 

NYSE Volume 4,223,199,000 
Nasdaq Volume 2,232,615,750 

http://biz.yahoo.com/ap/080418/wall_street.html


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed LOWER by -104.79 points -0.82% on Tuesday April 22

Wall Street pulled back Tuesday, with the Dow Jones industrials tumbling more than 100 points as a rush of quarterly results from bellwethers like AT&T Inc., DuPont and McDonald's Corp. failed to impress investors. Oil prices also reached fresh highs, raising concerns about inflation.

Sym Last........ ........Change..........
Dow 12,720.23 -104.79 -0.82% 
Nasdaq 2,376.94 -31.10 -1.29% 
S&P 500 1,375.94 -12.23 -0.88% 
10 Yr Bond(%) 3.7200% +0.0080 

*Overseas, *
Japan's Nikkei stock average closed down 1.09 percent. In afternoon trading, Britain's FTSE 100 fell 0.30 percent, Germany's DAX index fell 0.86 percent, and France's CAC-40 lost 0.77 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 6,034.70 -18.30 -0.30% 
DAX 6,728.30 -58.25 -0.86% 
CAC 40 4,872.64 -37.71 -0.77% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,547.82 -148.73 -1.09% 
Hang Seng 24,939.15 +217.48 +0.88% 

http://biz.yahoo.com/ap/080422/wall_street.html
*Stocks decline as oil rises, Street examines earnings*
Tuesday April 22, 5:40 pm ET 
By Joe Bel Bruno, AP Business Writer  
*Stocks trade lower as oil rises, Street examines quarterly reports; DuPont, McDonald's decline *

NEW YORK (AP) -- Wall Street pulled back Tuesday, with the Dow Jones industrials tumbling more than 100 points as a rush of quarterly results from bellwethers like AT&T Inc., DuPont and McDonald's Corp. failed to impress investors. Oil prices also reached fresh highs, raising concerns about inflation.

AT&T's earnings met Wall Street's forecast while McDonald's and DuPont reported stronger-than-expected numbers. But DuPont said a U.S. slowdown will offset growth abroad and McDonald's said an important metric of its sales showed a decline for March. All three companies are among the 30 stocks that make up the Dow.

The comments gave trading a cautious tone. With hundreds of companies still to report results, investors are anxious over what the figures might say about the prospects for the economy.

"We've melted here, but it isn't a plunge," said Art Hogan, chief market analyst at Jefferies & Co. "We're in a day-to-day assessment of how good earnings season is, and right now there's more bad news than good news -- the parade has been less positive than we've anticipated."

Investors appeared little moved by news of continued weakness in the housing sector. Sales of existing homes fell 2 percent in March to a seasonally adjusted annual rate of 4.93 million units, while the median sales price dropped for a seventh straight month. The National Association of Realtors also said sales rose in the Northeast and West but fell in the Midwest and South.

But oil's seemingly relentless march higher this year raises the specter of higher inflation that would lead consumers to cut back their discretionary spending. It would also make the Federal Reserve less likely to keep lowering interest rates.

Light, sweet crude for May delivery rose as high as $119.90 barrel, then slipped back to settle at $119.37, up $1.89. But it appeared inevitable crude would pass $120.

The Dow fell 104.79, or 0.82 percent, to 12,720.23.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 12.23, or 0.88 percent, to 1,375.94, and the Nasdaq composite index fell 31.10, or 1.29 percent, to 2,376.94.

Bond prices edged up. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.69 percent from 3.72 percent late Monday. The dollar was mixed against other major currencies, while gold prices rose.

Some of the latest earnings reports appeared to confirm concerns about the economy, analysts said.

"It takes a while for the economy's situation to work its way down to the companies," said Alexander Paris, economist and market analyst for Chicago-based Barrington Research. "What's going on is earnings are reflecting the reality of a slowing economy, and that should go on until the second half of the year."

Late Monday, Texas Instruments Inc. warned of a weak market for the chips it makes for high-end mobile phones. The company's results were nearly in line with Wall Street's expectations, however. The stock fell $1.77, or 5.8 percent, to $28.82.

In other corporate news, CIT Group Inc. fell $1.99, or 15.6 percent, to $10.75 after the financial services company said it would raise $1.5 billion from an offering of common and preferred stock. The company has been hit by strains in the mortgage and credit markets.

AT&T rose 22 cents to $37.81 after reporting that its first-quarter earnings rose 22 percent following growth in the company's wireless division and as its enterprise services business saw a reversal of an earlier decline.

DuPont said profits jumped 26 percent as the chemical company saw higher sales and benefits from the weak dollar. But the company's comments about the U.S. market appeared to weigh on the stock, which fell $2.09, or 4 percent, to $50.16.

McDonald's slipped 32 cents to $58.35 after saying its first-quarter earnings grew 24 percent. The fast food chain benefited from the weak U.S. dollar and strong global sales. However, it also said its same-stores sales, or sales at restaurants open at least a year, declined in March.

The rising price of oil again sent energy stocks higher. Exxon Mobil Corp. rose 13 cents to $94.39, while Chevron Corp. rose $1.33 to $94.03.

Declining issues outnumbered advancers by about 3 to 1 on the New York Stock Exchange, where volume came to 1.33 billion shares.

The Russell 2000 index of smaller companies fell 14.29, or 1.99 percent, to 703.71.

Overseas, Japan's Nikkei stock average closed down 1.09 percent. In afternoon trading, Britain's FTSE 100 fell 0.30 percent, Germany's DAX index fell 0.86 percent, and France's CAC-40 lost 0.77 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER by +42.99 points	+0.34% on Wednesday April 23

Wall Street ended a choppy session with a moderate advance Wednesday after a better-than-expected profit report at Boeing Co. and a seesaw day in the energy markets.

Sym Last........ ........Change..........
Dow	12,763.22	+42.99	+0.34%
Nasdaq	2,405.21	+28.27	+1.19%
S&P 500	1,379.93	+3.99	+0.29%
30-yr Bond	4.4850%	+0.0100

NYSE Volume	4,017,946,000
Nasdaq Volume	2,139,982,000

*Overseas,*
Japan's Nikkei stock average gained 0.23 percent. Britain's FTSE 100 rose 0.81 percent, Germany's DAX index rose 0.99 percent, and France's CAC-40 rose 1.48 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,083.60	+48.90	+0.81%
DAX	6,795.03	+8.48	+0.12%
CAC 40	4,944.65	+72.01	+1.48%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,579.16	+31.34	+0.23%
Hang Seng	25,289.24	+350.09	+1.40%

http://biz.yahoo.com/ap/080423/wall_street.html
*Stocks rise as Street parses earnings, oil gyrates*
Wednesday April 23, 4:32 pm ET
By Tim Paradis, AP Business Writer
*Stocks rise as investors sort through earnings reports and oil hovers near record highs*

NEW YORK (AP) -- Wall Street ended a choppy session with a moderate advance Wednesday after a better-than-expected profit report at Boeing Co. and a seesaw day in the energy markets.

Boeing, one of the 30 stocks that comprise the Dow Jones industrial average, reported a 38 percent jump in first-quarter earnings. The airplane manufacturers' results, along with stronger-than-anticipated forecasts at chip makers Broadcom Corp. and Anadigics Inc., appeared to buoy investor sentiment about the first-quarter earnings season.

Investors also reacted positively to Liberty Mutual's plans to acquire another insurance company, Safeco. The $6.12 billion deal -- which would create the country's fifth-biggest property insurer -- sent Safeco shares surging $20.71, or 46 percent, to $65.94.

Still, the stock market's movements were somewhat erratic Wednesday, as investors concerned about inflation kept an eye on fluctuating oil prices. Oil initially pulled back but then rebounded again, as the government reported a rise in crude inventories but a drop in gasoline stockpiles. A day earlier, a record high price for oil had helped send shares skidding.

"I think you're just going to get continued volatility," said Kevin Shacknofsky, co-portfolio manager of the Alpine Dynamic Dividend Fund in Purchase, N.Y. He cited investors' concerns not only about rising energy prices, but also the health of the financial sector.

According to preliminary calculations, the Dow rose 42.99, or 0.34 percent, to 12,763.22, after spiking 117 points, giving up those gains to trade down 17 points, and then recovering some ground.

Broader stock indicators also closed higher. The Standard & Poor's 500 index rose 3.99, or 0.29 percent, to 1,379.93. The technology-heavy Nasdaq composite index logged a more sizable advance, rising 28.27, or 1.19 percent, to 2,405.21.

Light, sweet crude for June delivery rose 23 cents to settle at $118.30 a barrel on the New York Mercantile Exchange, while gasoline touched all-time highs. On Tuesday, May crude futures hit a trading record of $119.90.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.74 percent from 3.69 percent late Tuesday.

The dollar was mixed against other major currencies, while gold prices fell.

Bill Schultz, chief investment officer at McQueen, Ball & Associates in Bethlehem, Pa., said quarterly results so far haven't given investors enough insight into what will drive profit growth in the coming quarters.

"Where does this earnings growth come from going forward? Maybe we haven't seen the last of the subprime problem or the consumer slowdown," he said. "I think people are just struggling to determine what is going to be the catalyst."

He also said investors are worried about rising energy prices weighing on consumer spending, which accounts for about 70 percent of U.S. economic activity.

"You have concerns now that the higher gas prices will exacerbate the slowdown," he said.

Wall Street has been digesting the flood of corporate numbers arriving in recent weeks as it tries to ascertain how long a slowdown in the economy might last. With little in the way of economic news expected this week, investors are left to concentrate on corporate news and await the next interest rate decision from the Federal Reserve, which is due in a week.

Boeing rose $3.53, or 4.5 percent, to $82.09 after its earnings report. Broadcom rose $3.84, or 16.3 percent, to $27.39, while Anadigics jumped $2.76, or 33.1 percent, to $11.09.

Some corporate results arriving Wednesday painted a lackluster picture, however. Bond insurer Ambac Financial Group declined $2.47, or 41 percent, to $3.56 after it said it swung to a loss of $1.66 billion from a profit of $213.3 million a year earlier. The loss came in part because of charges for bonds backed by soured mortgages.

Advancing issues outpaced decliners by about 8 to 7 on the New York Stock Exchange, where volume came to a 1.35 billion shares.

The Russell 2000 index of smaller companies rose 4.40, or 0.63 percent, to 708.11.

Overseas, Japan's Nikkei stock average gained 0.23 percent. Britain's FTSE 100 rose 0.81 percent, Germany's DAX index rose 0.99 percent, and France's CAC-40 rose 1.48 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER by +85.73 points 	+0.67% on Thursday April 24

Wall Street rallied Thursday after the government's jobless claims data and Ford Motor Co.'s first-quarter results helped reinject some optimism about the economy into the market.

Sym Last........ ........Change..........
Dow	12,848.95	+85.73	+0.67%
Nasdaq	2,428.92	+23.71	+0.99%
S&P 500	1,388.82	+8.89	+0.64%
30-yr Bond	4.5440%	+0.0590

NYSE Volume	4,462,689,500
Nasdaq Volume	2,352,640,500

*Overseas*
Japan's Nikkei stock average fell 0.28 percent. Britain's FTSE 100 closed down 0.54 percent, Germany's DAX index rose 0.39 percent, and France's CAC-40 fell 0.31 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,050.70	-32.90	-0.54%
DAX	6,821.32	+26.29	+0.39%
CAC 40	4,929.55	-15.10	-0.31%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,540.87	0.00	0.00%
Hang Seng	25,680.78	0.00	0.00%

http://biz.yahoo.com/ap/080424/wall_street.html
*Wall Street rises after drop in jobless claims, Ford results*
Thursday April 24, 5:54 pm ET
By Tim Paradis, AP Business Writer
*Stocks rise on jobless claims drop, Ford's 1Q; Dow closes up 86 at 12,849; Nasdaq ends up 24*

NEW YORK (AP) -- Wall Street rallied Thursday after the government's jobless claims data and Ford Motor Co.'s first-quarter results helped reinject some optimism about the economy into the market.

The Dow Jones industrial rose more than 80 points as investors focused on the Labor Department data showing weekly unemployment claims dropped and word that Ford had a $100 million profit in the first quarter. The news allowed investors to look past the Commerce Department's report that new home sales fell in March to the lowest level in more than 16 years, a sign that the housing slump isn't close to an end.

Investors were also able to set aside any concerns about another drop in factory orders for big-ticket manufactured goods and weak forecasts from Amazon.com Inc. and Starbucks Corp. Meanwhile, oil and other commodities prices fell as the dollar rose to its highest level against major currencies since January, which also helped boost stocks.

Sellers held sway early in the session, sending the Dow down nearly 57 points, after the home sales report. The data appeared to stir concerns that the hangover from the housing bubble would remain an intractable obstacle for the economy. But as the session wore on, the market righted itself, perhaps because there were no real surprises in the day's negative news.

John Merrill, chief investment officer at Tanglewood Capital Management in Houston, said investors are seeing confirmation of many of the economic themes that have played out in recent months, with weakness in the financial, homebuilding and automotive sectors and relative strength elsewhere.

"The earnings picture is not so bleak as people though it was going to be," he said. "There's been so much talk of the spillover from the credit crunch and homebuilding into the real economy and that just doesn't seem to have happened."

The Dow rose 85.73, or 0.67 percent, to 12,848.95.

Broader stock indicators also gained. The Standard & Poor's 500 index rose 8.89, or 0.64 percent, to 1,388.82, and the Nasdaq composite index advanced 23.71, or 0.99 percent, to 2,428.92.

Bond prices declined. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.83 percent from 3.74 percent on Wednesday.

Advancing issues outnumbered decliners by about 2 to 1 on the New York Stock Exchange, where consolidated volume came to 4.34 billion shares, up from 3.81 billion on Wednesday.

The dollar rose for the second straight day, regaining ground from its record low against the euro on Tuesday amid rising expectations that the Federal Reserve will pause in its string of interest rate hikes following its meeting next Wednesday. The euro brought $1.5686 in late New York trading, down from $1.5896 Wednesday and $1.6018 on Tuesday.

The greenback's advance sent commodities prices falling; hard assets like oil and gold tend to rise when the dollar is falling, so they reversed course Thursday as the U.S. currency regained some strength.

A drop in oil prices was particularly reassuring for Wall Street. Crude's surge toward $120 a barrel earlier this week compounded already rising concerns about inflation and its impact on consumer spending. Light, sweet crude fell $2.24 to settle at $116.06 on the New York Mercantile Exchange.

The Labor Department's report that claims for unemployment benefits declined by 33,000 last week to 342,000 came as a surprise after economists predicted claims would rise by 3,000. The notion that unemployment might be contained appeared to cap some concern about the economy. With consumer spending accounting for about 70 percent of U.S. economic activity, a rise in unemployment could dent people's willingness to reach into their wallets.

But unwelcome news came from the Commerce Department, which said new home sales fell by 8.5 percent in March to a seasonally adjusted annual rate of 526,000 units -- the slowest pace since October 1991. Also, the median price of a new home showed the sharpest year-over-year decline in nearly four decades.

Moreover, orders to factories for durable goods -- big-ticket items like refrigerators, cars and computers -- fell for a third straight month in March. This marks the longest sustained pullback since the 2001 recession.

Amazon had worried investors over the strength of its profit margins, while Starbucks warned that its second-quarter profit will likely fall short of Wall Street's expectations because of weak consumer spending.

Their forecasts, delivered after the closing bell Wednesday, touched off unease over the prospects for the consumer. Amazon fell $3.31, or 4.1 percent, to $77.69, while Starbucks dropped $1.86, or 11 percent, to $15.99.

But Ford said strong results from Europe and South America helped make up for a slower U.S. economy. The No. 2 U.S.-based automaker's performance was its first profitable quarter since the second quarter of 2007. Ford rose 88 cents, or 12 percent, to $8.40.

3M Co. -- the maker of Scotch tape and Post-It notes -- fell $1.50 to $79.13 after reporting its first-quarter profit fell 28 percent from a year earlier, when it benefited from a gain on the sale of one of its branded pharmaceutical business in Europe.

Motorola Inc. slid 30 cents, or 3.1 percent, to $9.25 after reporting that its first-quarter loss widened following a 39 percent decline in its mobile business.

The Russell 2000 index of smaller companies rose 8.96, or 1.27 percent, to 717.07.

Overseas, Japan's Nikkei stock average fell 0.28 percent. Britain's FTSE 100 closed down 0.54 percent, Germany's DAX index rose 0.39 percent, and France's CAC-40 fell 0.31 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## CAFA1234

What you fail to mention is that the intraday high was just a tad short of 13,000 - if it breaks 13,000 on Friday then we could be in for one hell of a ride.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The Dow Jones industrial average gained 42.91, or 0.33 percent, to 12,891.86, after falling more than 100 points earlier in the session. The Dow closed the week with a gain of less than 1 percent and for the week, the Nasdaq gained 1.4 percent.

The NYSE DOW closed HIGHER by +42.91 points 	+0.33% on Friday April 25

Sym Last........ ........Change..........
Dow	12,891.86	+42.91	+0.33%
Nasdaq	2,422.93	-5.99	-0.25%
S&P 500	1,397.84	+9.02	+0.65%
30-yr Bond	4.5890%	+0.0450

NYSE Volume	3,831,665,000
Nasdaq Volume	2,000,076,620

*Overseas,*
Japan's Nikkei stock average closed up 2.28 percent. Britain's FTSE 100 rose 0.67 percent, Germany's DAX index advanced 1.10 percent, and France's CAC-40 rose 0.99 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,091.40	+40.70	+0.67%
DAX	6,896.58	+75.26	+1.10%
CAC 40	4,978.21	+48.66	+0.99%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,863.47	+322.60	+2.38%
Hang Seng	25,516.78	-164.00	-0.64%

http://biz.yahoo.com/ap/080425/wall_street.html
*Stocks mostly up as investors overcome economic worries*
Friday April 25, 5:29 pm ET
By Eileen Aj Connelly, AP Business Writer
*Stocks end mostly higher as investors overcome economic worries; Microsoft weighs on tech*

NEW YORK (AP) -- Wall Street ended its second straight winning week with a moderate advance Friday, overcoming concerns about consumer confidence and inflation.

After slumping early in the session in response to weak consumer confidence and a spike in oil prices, investors seemed to turn their attention to broader signs, including the week's generally satisfactory earnings reports, that suggested that government efforts to steady the economy appear to be working. That shift in focus sent stocks up late in the day.

Although the Reuters/University of Michigan consumer sentiment index came in with its lowest reading since the early 1980s, Tom Lydon, president of Global Trends Investments in Newport Beach, Calif., said companies' first-quarter reports convinced investors that "overall, things aren't all that bad."

"I think a lot of people went into the weekend feeling they didn't want to be on the short side," Lydon said.

The consumer sentiment index fell to 62.6 for April from 69.5 a month earlier, reflecting Americans' concern about rising energy and food prices.

While consumer spending represents about 70 percent of the economy, UBS equities strategist David Bianco said "it's the wrong thing to be looking at to gauge the prospects" for the Standard & Poor's 500 companies.

"Business activity is strong in the U.S. and especially globally," he said. "That's far more important."

The Dow Jones industrial average gained 42.91, or 0.33 percent, to 12,891.86, after falling more than 100 points earlier in the session. The Dow closed the week with a gain of less than 1 percent.

Broader stock indicators were mixed on the day. The S&P 500 index gained 9.02, or 0.65 percent, to 1,397.84, and rose 2.1 percent for the week.

The Nasdaq composite index, depressed by disappointment with a Microsoft Corp. forecast, fell 5.99, or 0.25 percent, to 2,422.93, after dropping as much as 1.6 percent during the session. But advancers were well ahead of decliners in the broader Nasdaq Stock Market, and for the week, the Nasdaq gained 1.4 percent.

Advancing issues outpaced decliners by 2 to 1 on the New York Stock Exchange, where volume came to 1.28 billion shares.

Bond prices fell ahead of the Federal Reserve's meeting on interest rates next Wednesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.87 percent from 3.83 percent late Thursday.

Oil prices, meanwhile, jumped on a series of troubling events overseas, including word that a ship under contract with the U.S. Navy fired flares and warning shots at two small boats of unknown origin in the Persian Gulf. Oil was up earlier following an attack on a pipeline in Nigeria and a looming refinery strike in Scotland; light, sweet crude shot as high as $119.50 a barrel on the New York Mercantile Exchange before falling back to settle at $118.52, up $2.46.

Craig Hester, chief executive at Hester Capital Management in Austin, Texas, said stocks will likely fluctuate as investors digest corporate results from this week and while they await the Fed rate decision.

"The big risks I see for stocks right now are earnings," he said, adding that next week's economic data should also help give investors a better picture, with reports due on the nation's gross domestic product and employment.

Investors could also get further insights into the health of the consumer next week with reports due from names like Tyson Foods Ind., Kellogg Co., Kraft Foods Inc., Burger King Holdings Inc. and Procter & Gamble Co.

But so far, "the earnings have come in on the financial side pretty much where people expected and in terms of the industrial side a little bit better than expected," said Charlie Smith, chief investment officer at Fort Pitt Capital Group in Pittsburgh. "Consumers were a little bit weaker than expected. So you net all those together and the earnings season is turning out as people thought it would before it started."

Microsoft fell $1.97, or 6.2 percent, to $29.83, after its first-quarter report. The tech leader said after the closing bell Thursday that worldwide sales next year should offset weakness in the U.S. economy.

Goodyear Tire & Rubber Co. rose $1.66, or 6.1 percent, to $28.91 after posting a first-quarter profit amid increased revenue. The tiremaker, which reported a loss for the same period a year earlier, said it focused on higher-priced tires and international markets.

American Express Co. rose $2.59, or 5.7 percent, to $47.77 after reporting its first-quarter earnings fell 6 percent as more U.S. cardholders failed to make their payments. The credit card lender's total provisions for credit losses jumped 48 percent from a year earlier to $1.27 billion. However, the company said cardholders are continuing to spend and that strength abroad has helped make up for troubles in the U.S.

The Russell 2000 index of smaller companies rose 4.81, or 0.67 percent, to 721.88.

Overseas, Japan's Nikkei stock average closed up 2.28 percent. Britain's FTSE 100 rose 0.67 percent, Germany's DAX index advanced 1.10 percent, and France's CAC-40 rose 0.99 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com​


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

Wall Street finished little changed Monday as investors turned cautious ahead of the Federal Reserve's two-day policy meeting, which starts Tuesday.

Stocks fluctuated most of the morning before turning higher for much of the day. Stocks then pulled back modestly in the final minutes of trading.


The NYSE DOW closed LOWER by -20.11	points -0.16% on Moniday April 28

Sym Last........ ........Change..........
Dow	12,871.75	-20.11	-0.16%
Nasdaq	2,424.40	+1.47	+0.06%
S&P 500	1,396.37	-1.47	-0.11%
30-yr Bond	4.5650%	-0.0240

NYSE Volume	3,553,965,250
Nasdaq Volume	1,783,166,000

*Overseas,*
 Japan's Nikkei stock average rose 0.22 percent. Britain's FTSE 100 closed down 0.02 percent, Germany's DAX index added 0.42 percent, and France's CAC-40 rose 0.69 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,090.40	-1.00	-0.02%
DAX	6,925.33	+28.75	+0.42%
CAC 40	5,012.75	+34.54	+0.69%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,894.37	+30.90	+0.22%
Hang Seng	25,666.29	+149.51	+0.59%
Straits Times	3,206.47	+17.27	+0.54%

http://biz.yahoo.com/ap/080428/wall_street.html
*Stocks finish little changed ahead of Fed rate meeting*
Monday April 28, 4:42 pm ET
By Joe Bel Bruno, AP Business Writer
*Wall Street finishes little changed as investors position ahead of Fed meeting, earnings*

NEW YORK (AP) -- Wall Street finished little changed Monday as investors turned cautious ahead of the Federal Reserve's two-day policy meeting, which starts Tuesday.

Stocks fluctuated most of the morning before turning higher for much of the day. Stocks then pulled back modestly in the final minutes of trading.

Investors' appeared to be waiting for the Fed to make the next move. Policymakers are widely expected to cut interest rates by a quarter point on Wednesday, then leave them steady for the balance of the year to help ward off inflation.

The session's modest moves came despite one of the most active days for acquisitions in almost three months. The biggest deal was the Warren Buffett and candy maker Mars Inc. offer to buy Wm. Wrigley Jr. Co. for about $23 billion in cash. Meanwhile, billionaire Kirk Kerkorian plans to make an offer that would expand his stake in Ford Motor Co. to 5.6 percent, saying he sees signs the automaker's turnaround plan is working.

This helped to offset disappointment in the market that struggling Continental Airlines Inc. said it would not pursue a combination with another carrier right away. It was a surprising move after weeks of speculation it would join with United Airlines to create the world's biggest carrier.

But investors appeared focused on the Fed.

"Investors are holding their breath for the Fed, and not even these high-profile deals are shaking people off of their hands," said Jack A. Ablin, chief investment officer at Harris Private Bank. "The direction of Fed policy hangs in the balance, and there are people like me that hope the central bank quits sooner rather then later."

According to preliminary calculations, the Dow Jones industrial average fell 20.11, or 0.16 percent, to 12,871.75.

Broader indexes were mixed. The Standard & Poor's 500 index slipped 1.47, or 0.11 percent, to 1,396.37, and the Nasdaq composite index rose 1.47, or 0.06 percent, to 2,424.40.

Bond prices edged higher after suffering big losses last week. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.82 percent from 3.87 percent late Friday.

Crude spiked to near $120 a barrel in overnight trading amid supply concerns, then gave up some gains to settle up 23 cents at $118.75 a barrel on the New York Mercantile Exchange.

The dollar was mixed against other major currencies, while gold prices were higher.

In corporate news, Kerkorian's investment company, Tracinda Corp., said it plans to offer $8.50 per share in cash for up to 20 million additional shares of Ford. Ford rose 71 cents, or 9.5 percent, to $8.21.

Continental Airlines shares fell 26 cents to $16.96 after the airline announced it wasn't interested in completing a deal. The decision stunned United's parent, UAL Corp., which had been in advanced talks with Continental and expected to complete a deal by early May.

United shares fell 40 cents, or 2.6 percent, to $14.81.

Some observers saw the dealmaking as an encouraging sign that companies are still willing to make mergers and acquisitions happen -- and that many might do so while valuations still look cheap.

"What is happening is that people are thinking the Fed is keeping the economy going, and this is a good opportunity to do some inexpensive shopping," said Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York. "There has been a bit of a concern over the past few months that we haven't been seeing enough M&A."

In other corporate news, health insurer Humana said that increased Medicare Advantage membership helped drive its first-quarter profit above Wall Street's expectations. The company also raised its forecast for the year. The stock rose $1.50, or 3.3 percent, to $46.38.

The Russell 2000 index of smaller companies advanced 3.49, or 0.48 percent, to 725.37.

Advancing issued outpaced decliners by about a 3-to-2 margin on the New York Stock Exchange, where volume came to 1.21 billion shares compared with 1.45 billion shares traded Friday.

Overseas, Japan's Nikkei stock average rose 0.22 percent. Britain's FTSE 100 closed down 0.02 percent, Germany's DAX index added 0.42 percent, and France's CAC-40 rose 0.69 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

Wall Street finished with a mixed performance Tuesday, as investors traded cautiously ahead of the Federal Reserve's Wednesday decision on interest rates.

The NYSE DOW closed LOWER by -39.81	points -0.31% on Tuesday April 29

Sym Last........ ........Change..........
Dow	12,831.94	-39.81	-0.31%
Nasdaq	2,426.10	+1.70	+0.07%
S&P 500	1,390.94	-5.43	-0.39%
30-yr Bond	4.5590%	-0.0060

NYSE Volume	3,753,329,750
Nasdaq Volume	1,763,940,880

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,089.40	-1.00	-0.02%
DAX	6,885.34	-39.99	-0.58%
CAC 40	4,977.10	-35.65	-0.71%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,894.37	+30.90	+0.22%
Hang Seng	25,914.15	+247.86	+0.97%

http://biz.yahoo.com/ap/080429/wall_street.html
*Stocks mixed with investors wary before Fed's rate decision*
Tuesday April 29, 4:34 pm ET
By Joe Bel Bruno, AP Business Writer
*Wall Street mixed with investors hesitant ahead of Fed decision; consumer sentiment slides*

NEW YORK (AP) -- Wall Street finished with a mixed performance Tuesday, as investors traded cautiously ahead of the Federal Reserve's Wednesday decision on interest rates.

The Fed, facing a faltering economy but also rising inflation, is expected to cut interest rates by another quarter point after its two-day meeting concludes Wednesday. Many investor believe policy makers will then signal that they are planning to hold rates steady for a while.

Consumers have been worried about inflation because it means energy and grocery bills are harder to pay. Wall Street is also concerned, because inflation tends to curtail consumer spending, which accounts for more than two-thirds of the U.S. economy.

The Conference Board said Tuesday its April index of consumer confidence fell for the fourth straight month because of heightened disappointment about soaring prices and the weakening job market.

"There's no panic out there (in the market) because of the consumer confidence numbers, but there is more concern about inflation then we had just a few weeks ago," said Jim Herrick, director of equity trading at Baird & Co. "Everyone is interested in what the Fed will do about it."

According to preliminary calcuations, the Dow Jones industrial average fell 39.81, or 0.31 percent, to 12,831.94.

The biggest drag on the Dow was the component Merck & Co., which sank $4.30, or 10.4 percent, to $37.14 after saying the Food and Drug Administration refused to approve a new cholesterol drug called Cordaptive.

Broader markets were mixed. The Standard & Poor's 500 index dipped 5.43, or 0.39 percent, to 1,390.94, and the Nasdaq composite index rose 1.70, or 0.07 percent, to 2,426.10.

A pullback in oil prices Tuesday eased inflationary concerns a bit, and helped keep the stock market from tumbling sharply. But some analysts say the market has been deceptively calm in recent weeks given the weakness of the economy and how consumers are struggling not only with a slumping housing and job market but also high prices.

"So far, investors have bought into the notion that the Federal Reserve has staved off a wider calamity, when in fact what they've done is allow financial system to stay afloat as they work down, write down, a tremendous amount of bad debt," said Joseph V. Battipaglia, chief investment officer at Ryan Beck & Co.

Slashing the key rate by more than half since last summer has not trickled down to consumers' borrowing rates, he noted, and instead has "punted the dollar. It's sparked commodity runs. It has translated to spikes in food and energy costs for the public at exactly the wrong time."

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

Wall Street gave up sharp gains and closed lower Wednesday after the Federal Reserve cut interest rates by a quarter point but left investors guessing about the central bank's next move. The Dow Jones industrial average, momentarily soaring above 13,000 for the first time since early January, ended the session with a modest loss.

The NYSE DOW closed LOWER by -11.81 points	-0.09% on wednesday April 30

Sym Last........ ........Change..........
Dow	12,820.13	-11.81	-0.09%
Nasdaq	2,412.80	-13.30	-0.55%
S&P 500	1,385.59	-5.35	-0.38%
30-yr Bond	4.4970%	-0.0620

NYSE Volume	4,461,267,500
Nasdaq Volume	2,201,194,000

*Overseas*
Japan's Nikkei stock average fell 0.32 percent. Britain's FTSE 100 closed down 2.10 percent, Germany's DAX index rose 0.92 percent, and France's CAC-40 rose 0.39 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,087.30	-2.10	-0.03%
DAX	6,948.82	+63.48	+0.92%
CAC 40	4,996.54	+19.44	+0.39%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,849.99	-44.38	-0.32%
Hang Seng	25,755.35	-158.80	-0.61%
Straits Times	3,147.79	-24.57	-0.77%

http://biz.yahoo.com/ap/080430/wall_street.html
*Stocks dip with investors flummoxed over Fed*
Wednesday April 30, 4:45 pm ET
By Madlen Read, AP Business Writer
*Wall Street gives up steep advance after Fed cuts key rate, leaves rate outlook open*

NEW YORK (AP) -- Wall Street gave up sharp gains and closed lower Wednesday after the Federal Reserve cut interest rates by a quarter point but left investors guessing about the central bank's next move. The Dow Jones industrial average, momentarily soaring above 13,000 for the first time since early January, ended the session with a modest loss.

The Fed's statement Wednesday made it clear the central bank is less worried about economic growth than in March, when it pointed to "downside risks to growth." The Fed said Wednesday that while the economy remains weak and the inflation outlook is still uncertain, its rate cuts and lending efforts over the past several months "should help promote moderate growth over time and to mitigate risks to economic activity."

But what was less certain was whether the central bank is confident enough about the economy to make inflation a top priority and keep interest rates on hold.

"It feels as if they're going to pause," said Kim Caughey, equity research analyst at Fort Pitt Capital Group. She said, though, that she was surprised the Fed stated that it "expects inflation to moderate in the coming quarters."

"I think they're being clear that they're not 100 percent sure about what the next step is," Caughey said.

With economic data in recent weeks coming in anemic but not as bad as expected, inflation has appeared to Wall Street to be the growing threat, due to rising food prices, crude oil near $120 a barrel and U.S. roadside gasoline prices surging above $3.60 a gallon.

"The market had wanted to hear tougher talk on inflation, and some sort of talk that the easing has been adequate for a while, for the foreseeable future," said Scott Wren, equity strategist for Wachovia Securities.

According to preliminary calculations, the Dow Jones industrial average fell 11.81, or 0.09 percent, to 12,820.13, after trading up 178 points shortly after the Fed's announcement.

Broader stock indicators also closed down, having given up steep gains. The Standard & Poor's 500 index fell 5.35, or 0.38 percent, to 1,385.59, and the Nasdaq composite index fell 13.30, or 0.55 percent, to 2,412.80.

The benchmark 10-year Treasury note rose after the Fed's decision. Its yield, which moves opposite its price, fell to 3.76 percent from 3.82 percent late Tuesday.

The dollar dropped against most other major currencies, while gold prices turned higher.

Crude oil for June delivery fell $2.17 to settle at $113.46 a barrel on the New York Mercantile Exchange, after falling more than $3 a barrel on Tuesday.

The stock market had rallied in the hours before the Fed decision thanks to stronger-than-anticipated economic and corporate reports -- a weeks-long trend that has helped the three major indexes post their first monthly gain after five straight months of losses.

The Dow climbed 4.54 percent for the month of April; the S&P rose 4.75 percent; and the Nasdaq jumped 5.9 percent. The Dow remains down 3.35 percent for the year, however, while the S&P is down 5.64 percent for the year and the Nasdaq is down 9.03 percent.

The Commerce Department estimated Wednesday that the gross domestic product rose at a modest seasonally adjusted annual rate of 0.6 percent during the first quarter, while the Chicago purchasing managers' index showed another month of contraction in Midwest manufacturing.

However, many economists had forecast a lower rise in first-quarter GDP -- some had even predicted a contraction -- and on average, they had anticipated a reading of 48.0 for the April purchasing managers' index instead of the reported 48.2.

Another report that beat lowered expectations came from General Motors Corp., whose quarterly loss of $3.3 billion due to supplier strike and weak U.S. sales was milder than Wall Street predicted. Shares of the Dow component jumped $2, or 9.4 percent, to $23.20.

Procter & Gamble Co., another Dow component, said price increases and cost controls helped offset higher commodity costs, pushing its third quarter profit up 8 percent. P&G lifted its full-year outlook, and its shares rose $1.15 to $67.05.

But the technology sector got extra downward pressure after software maker SAP AG said its profit slipped in the first quarter because of the weaker dollar and its takeover of another software company, Business Objects. Though sales were higher and SAP raised its 2008 outlook, shares fell $2.22, or 4.2 percent, to $50.23.

Meanwhile, Dow component Citigroup Inc. priced $4.5 bilion of common stock to sell to boost its cash levels. Citigroup shares fell $1.05, or 4 percent, to $25.27.

The Russell 2000 index of smaller companies fell 2.75, or 0.38 percent, to 716.18.

Advancing issues outnumbered decliners by about 8 to 7 on the New York Stock Exchange, where volume was 1.44 billion shares.

Overseas, Japan's Nikkei stock average fell 0.32 percent. Britain's FTSE 100 closed down 2.10 percent, Germany's DAX index rose 0.92 percent, and France's CAC-40 rose 0.39 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html


*Stocks rise and Dow crosses 13,000 as dollar advances*

Wall Street shot higher Thursday as investors, while anticipating another dismal jobs report Friday, viewed the rising dollar and falling oil prices as promising signs for the economy. The Dow Jones industrial average soared nearly 190 points to close above 13,000 for the first time since Jan. 3.

The NYSE DOW closed HIGHER by +189.87	points +1.48% on Thursday May 1

Sym Last........ ........Change..........
Dow	13,010.00	+189.87	+1.48%
Nasdaq	2,480.71	+67.91	+2.81%
S&P 500	1,409.34	+23.75	+1.71%
30-yr Bond	4.4840%	-0.0130

NYSE Volume	4,448,782,500
Nasdaq Volume	2,360,785,750

*Overseas*
Japan's Nikkei stock average fell 0.60 percent. Markets in much of the world, including Europe and Hong Kong, were closed for May Day.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,087.30	closed for May Day.
DAX	6,948.82	closed for May Day.
CAC 40	4,996.54	closed for May Day.

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,766.86	-83.13	-0.60%
Hang Seng	25,755.35	closed for May Day.

http://biz.yahoo.com/ap/080501/wall_street.html
*Stocks rise and Dow crosses 13,000 as dollar advances*
Thursday May 1, 5:38 pm ET
By Madlen Read, AP Business Writer
*The Dow Jones industrials cross 13,000 as dollar soars and optimism rises about economy*

NEW YORK (AP) -- Wall Street shot higher Thursday as investors, while anticipating another dismal jobs report Friday, viewed the rising dollar and falling oil prices as promising signs for the economy. The Dow Jones industrial average soared nearly 190 points to close above 13,000 for the first time since Jan. 3.

The dollar jumped on better-than-expected economic data and the Federal Reserve's apparent resolve to monitor inflation. The Commerce Department said consumer spending rose 0.4 percent in March, more than predicted, and the Institute for Supply Management said U.S. manufacturing contracted in April by a bit less than anticipated.

The readings were not all positive -- consumer spending ticked higher mainly due to rising energy and food prices. The ISM's report also indicated that companies are hurting from climbing costs.

But the dollar, which has recently strengthened after a protracted decline, rallied anyway, pushing the euro down more than 1 percent to $1.5461 in late trading. Trading was thin, with major currency markets in London and elsewhere closed for the May Day holiday, but the dollar's advance helped crude oil fall briefly near $110 a barrel and then settle at $112.52. That alleviated some of the inflation-related anxieties in the market, given that crude recently traded at a record near $120 a barrel.

"I don't know if it's all turned around, but I think oil got out of control," said Todd Leone, managing director of equity trading at Cowen & Co.

The Dow rose 189.87, or 1.48 percent, to 13,010.00, after briefly rising more than 200 points. It hadn't closed above 13,000 since Jan. 3, when it ended at 13,056.72; the Dow is still down 8.15 percent from its record close of 14,164.53, reached Oct. 9, 2007, before the brunt of the credit crisis hit Wall Street.

Broader stock indicators also enjoyed a significant advance Thursday. The Standard & Poor's 500 index rose 23.75, or 1.71 percent, to 1,409.34 -- its first settlement above 1,400 since Jan. 14. The Nasdaq composite index climbed 67.91, or 2.81 percent, to 2,480.71, its highest close since Jan. 10.

The dollar's rise came a day after the Fed lowered key interest rates by a quarter-point, but indicated the economy should keep growing moderately, while inflation is the growing concern.

"What we're seeing is that maybe the economy is not falling off a cliff, but perhaps leveling off," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners Inc. "I think the Fed (rate-cutting campaign) is over with, even though the Fed's statement didn't say that."

The economic assessment statement accompanying the Fed's rate decision was unclear about its policy going forward, but it has been widely believed that the central bank will pause following a string of cuts that lowered rates by 3 percentage points since last summer.

On Thursday, banks, homebuilders, chip makers and retailers surged, after getting battered earlier this year due to worries about the mortgage crisis and its effect on the global economy.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.77 percent by late trading from 3.73 percent late Wednesday.

As the dollar moved higher against other currencies, gold prices dropped.

Investors are predicting another gloomy reading on U.S. employment on Friday. The Labor Department's report is expected to show a 75,000 net loss in jobs for April -- which would be the fourth straight month of losses -- and a rise in unemployment to 5.2 percent from 5.1 percent in March. In a negative sign ahead of that data, the government said Thursday the number of newly laid off workers filing claims for unemployment benefits increased by a greater-than-expected 35,000 last week.

However, with the government sending stimulus checks to taxpayers and Fed rate cuts still working their way through the financial system, many investors are focused on the second half of the year, when they are betting the economy will rebound.

Shares of Exxon Mobil Corp., one of the 30 Dow components, declined $3.37, or 3.6 percent, to $89.70, after it said its first-quarter profit rose 17 percent to $11 billion -- not as high as analysts expected, despite record-high oil prices. Lower production volumes caused the company's profit margins to shrink.

But on the whole, corporate profits have been coming in a bit stronger over the past few weeks than the market had expected. Meanwhile, spreads between rates on riskier securities and rates on safer issues have been narrowing, indicating that the credit markets are getting back to normal.

After the Fed's rate cut Wednesday, that pattern continued Thursday. Bank stocks benefited -- Citigroup Inc. rose $1.04, or 4.2 percent, to $25.99; Bank of America Corp. rose $1.85, or 4.9 percent, to $39.39; and JPMorgan Chase & Co. rose $1.60, or 3.4 percent, to $49.25.

In another sign that the financial sector is on the mend, the Fed said late Thursday that investment firms averaged a relatively low $18.6 billion in daily borrowing over the past week from the Fed's emergency lending program. Earlier Thursday, the Fed auctioned off $24.12 billion in super-safe Treasury securities to big investment firms.

The Russell 2000 index of smaller companies rose 13.57, or 1.89 percent, to 729.75.

Advancing issues more than doubled decliners on the New York Stock Exchange. Consolidated volume amounted to 4.32 billion, up from 3.66 billion shares traded Wednesday.

Overseas, Japan's Nikkei stock average fell 0.60 percent. Markets in much of the world, including Europe and Hong Kong, were closed for May Day.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

Wall Street turned in a mixed performance Friday as investors set aside some initial enthusiasm over a stronger-than-expected jobs report to lock in some of their recent gains. Blue chip stocks logged their third weekly advance in a row as investors grew more confident about the economy's ability to outrun a deep downturn.

The NYSE DOW closed HIGHER by +48.20 points	+0.37% on Friday May 2

Sym Last........ ........Change..........
Dow	13,058.20	+48.20	+0.37%
Nasdaq	2,476.99	-3.72	-0.15%
S&P 500	1,413.90	+4.56	+0.32%
30-yr Bond	4.5650%	+0.0810

NYSE Volume	3,922,569,750
Nasdaq Volume	2,271,026,000

*Overseas*
Japan's Nikkei stock average rose 2.05 percent. Britain's FTSE 100 finished up 2.11 percent, Germany's DAX index added 1.36 percent, and France's CAC-40 rose 1.46 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,215.50	+128.20	+2.11%
DAX	7,043.23	+94.41	+1.36%
CAC 40	5,069.71	+73.17	+1.46%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	14,049.26	+282.40	+2.05%
Hang Seng	26,241.02	+485.67	+1.89%

http://biz.yahoo.com/ap/080502/wall_street.html
*Stocks give up gains from employment report to finish mixed*
Friday May 2, 4:52 pm ET
By Tim Paradis, AP Business Writer

NEW YORK (AP) -- Wall Street turned in a mixed performance Friday as investors set aside some initial enthusiasm over a stronger-than-expected jobs report to lock in some of their recent gains. Blue chip stocks logged their third weekly advance in a row as investors grew more confident about the economy's ability to outrun a deep downturn.

Better-than-expected reports on employment and the pace of orders at factories offered the market fresh evidence that the economy might not be in as worrisome a state as many had feared. But a surprise quarterly loss from Sun Microsystems Inc. weighed on the tech-laden Nasdaq composite index.

Still, buyers outnumbered sellers after a government employment report showed the nation's employers cut far fewer jobs than expected last month, stirring optimism about the buoyancy of the economy. Nonetheless, after sharp gains Thursday, some investors decided to take some money out of stocks.

Dave Rovelli, managing director of U.S. equity trading at Canaccord Adams, said stocks pulled back from the day's highs as investors opted to hold on to gains following a decent run-up.

"This is just normal profit-taking," he said, adding: "Sun Microsystem's earnings today didn't help the cause."

The employment report Friday came at the end of a critical week for Wall Street. While corporate results dominated in previous weeks, investors this week focused on the Federal Reserve's decision Wednesday to lower interest rates and on reports on the gross domestic product, personal spending and factory orders.

The Fed's decision to lower rates by a quarter point to 2 percent and widespread speculation that it will stand pat at future meetings buoyed investors' confidence. The Fed's comments helped shore up an anemic dollar and calmed some fears about inflation.

According to preliminary calculations, the Dow Jones industrial average rose 48.20, or 0.37 percent, to 13,058.20 after being up more than 100 points early in the session.

Broader stock indicators ended mixed. The Standard & Poor's 500 index rose 4.56, or 0.32 percent, to 1,413.90, while the Nasdaq slipped 3.72, or 0.15 percent, to 2,476.99.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where volume came to 1.27 billion shares compared with 1.4 billion shares traded Thursday.

The moves Friday came a day after a rising dollar and falling oil prices emerged as promising signs for the economy. The Dow soared nearly 190 points Thursday to close above 13,000 for the first time since Jan. 3.

Bond prices declined Friday as some investors moved into stocks from the safety of government debt. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.83 percent from 3.77 percent late Thursday.

Light, sweet crude rose $3.80 to settle at $116.32 per barrel on the New York Mercantile Exchange. The dollar was mixed against other major currencies, while gold prices rose.

Recent months have brought spikes in food and energy costs that have made it harder for many consumers. Wall Street is concerned that rising prices and a weak housing market would force consumers, who account for about 70 percent of U.S. economic activity, to curtail spending.

But with oil prices pulling back sharply Thursday, stocks took off, and they continued their run into Friday's session before the rally stalled.

Rovelli said investors apparently felt the recent run-up had occurred too quickly.

"The environment is not that great," he said, referring to energy prices that remain elevated even off their highest levels. "We're overbought. We were overdue for some profit-taking."

The Labor Department's report that employers cut 20,000 jobs in April was a relief to Wall Street, which had been expecting payrolls to fall by 75,000 jobs. The unemployment rate fell to 5 percent from 5.1 percent. This marked the fourth straight month of job losses, but the data signaled that perhaps the economy might be resisting falling into recession.

A separate report showing that factory orders increased in March following two months of declines added to an upbeat mood. The Commerce Department said U.S. manufacturers saw orders increase 1.4 percent in March. Economists expected a 0.2 percent increase after declines in January and February.

Meanwhile, the Fed said it will work with European central banks to expand efforts to deal with the global credit crisis. The central bank will boost the amount of emergency reserves it supplies to U.S. banks to $150 billion in May, up from the $100 billion it supplied in April.

In corporate news, Sun Microsystems shares fell $3.69, or 23 percent, to $12.64 after the company stunned investors late Thursday by reporting a loss for the third quarter. The server and software maker blamed the loss on sagging sales to U.S. consumer-oriented companies that are delaying big-ticket spending.

Overseas, Japan's Nikkei stock average rose 2.05 percent. Britain's FTSE 100 finished up 2.11 percent, Germany's DAX index added 1.36 percent, and France's CAC-40 rose 1.46 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

Wall Street pulled back Monday after Microsoft Corp.'s decision to withdraw its bid for Yahoo Inc. and as oil prices rose to a new record over $120 a barrel.

The NYSE DOW closed LOWER by -88.66 points	-0.68% on Monday May 5

Sym Last........ ........Change..........
Dow	12,969.54	-88.66	-0.68%
Nasdaq	2,464.12	-12.87	-0.52%
S&P 500	1,407.49	-6.41	-0.45%
30-yr Bond	4.5810%	+0.0160

NYSE Volume	3,360,568,500
Nasdaq Volume	2,084,995,620

*Overseas*
Japan's and Britain's markets were closed for holidays. Germany's DAX index rose 0.13 percent, and France's CAC-40 fell 0.13 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,215.50	Closed May 5
DAX	7,052.08	+8.85	+0.13%
CAC 40	5,063.36	-6.35	-0.13%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	14,049.26	Closed May 5
Hang Seng	26,183.95	-57.07	-0.22%

http://biz.yahoo.com/ap/080505/wall_street.html
*Stocks end lower after Microsoft pulls Yahoo bid*
Monday May 5, 4:39 pm ET
By Tim Paradis, AP Business Writer
*Stocks decline after Microsoft withdraws Yahoo bid; oil sets fresh record, weighs on retailers*

NEW YORK (AP) -- Wall Street pulled back Monday after Microsoft Corp.'s decision to withdraw its bid for Yahoo Inc. and as oil prices rose to a new record over $120 a barrel.

Microsoft had offered $47.5 billion to buy Yahoo Inc., but scrapped the bid late Saturday after the software maker and the Internet provider could not agree on a sale price. The failed deal came as a disappointment to Wall Street, as merger-and-acquisition activity tends to boost shareholder value, and also signals to the broader market that corporate America is optimistic about the future.

A jump in oil prices raised concerns that inflation could force consumers, who account for more than two-thirds of the economy, to cut their spending on discretionary items. Crude oil futures for June delivery surged to a new trading high of $120.21 a barrel on the New York Mercantile Exchange before pulling back. The jump followed news of an attack on a Nigerian oil facility.

"Energy is a very important piece," said Russell Croft, portfolio manager at Croft Leominster Investment Management in Baltimore, referring to the mood of both investors and consumers. "It's the price at the pump, it's what people read about."

According to preliminary calculations, the Dow Jones industrial average fell 88.66, or 0.68 percent, to 12,969.54.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 6.41, or 0.45 percent, to 1,407.49, and the Nasdaq composite index fell 12.87, or 0.52 percent, to 2,464.12.

Bond prices rose as stocks dropped. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.84 percent from 3.86 percent late Friday.

Gold prices also climbed, while the dollar traded mixed against other major currencies.

In general, first-quarter earnings reports and economic data have been coming in weak, but were not as poor as many on Wall Street had braced for. Investors have lingering concerns, however -- not only is the housing market still weak, but commodities besides oil remain near record levels, threatening consumers' discretionary spending and their ability to pay off debt.

John Merrill, chief investment officer at Tanglewood Capital Management in Houston, noted that despite investors' concerns, Wall Street has logged a sizable rebound since its March lows. He said the back-and-forth in stocks is to be expected, particularly after recent gains.

Last week, the Dow rose 1.29 percent, while the S&P 500 advanced 1.15 percent.

"The market can only go in one direction for so long before you just have to change," he said.

"Our idea is that we're in a long, soft patch," Merrill said. "The economic problems we have with homebuilding and the over-leveraged consumer and the over-leveraged banking system -- they are problems that are going to be with us for a while."

Despite their concerns about inflation, investors briefly took some encouragement from a key reading on the U.S. service sector. The Institute for Supply Management said its April index of nonmanufacturing activity rose to 52 from 49.6 in March. A reading above 50 signals economic expansion; analysts had expected the figure would come in at 49.3, according to economists surveyed by Thomson Financial/IFR.

But the rise in oil prices weighed on a number of sectors, including retailers and airlines. Macy's Inc. fell $1.21, or 4.6 percent, to $25.09, while J.C. Penney Co. fell $1.86, or 4.1 percent, to $43.32.

Delta Air Lines Inc. fell 39 cents, or 4.6 percent, to $8.11 and Continental Airlines Inc. declined $1.01, or 5.4 percent, to $17.78.

Meanwhile, Yahoo fell $4.30, or 15 percent, to $24.37 after Microsoft's decision to walk away. Shares of Microsoft slipped 16 cents to $29.08.

Helping to offset some of investors' disappointment over the abandoned Yahoo deal was a report from The Wall Street Journal, which said Deutsche Telekom AG is considering a bid to buy Sprint Nextel Corp., according to people familiar with the discussions.

Sprint rose 83 cents, or 10.5 percent, to $8.72 on the report and as the newspaper reported that Sprint is considering spinning off its Nextel arm.

Countrywide Financial Corp. fell 62 cents, or 10.4 percent, to $5.36 after a Wall Street analyst said Bank of America Corp. should abandon its proposed takeover of the mortgage lender. Another analyst suggested the deal would likely be renegotiated for a lower price.

Bank of America fell 82 cents, or 2.1 percent, to $38.97.

Overseas, Japan's and Britain's markets were closed for holidays. Germany's DAX index rose 0.13 percent, and France's CAC-40 fell 0.13 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

Wall Street reversed early losses to close higher Tuesday, as investors monitored the movements of record high oil prices but still laid bets that the economy and companies are in recovery mode.

The NYSE DOW closed HIGHER by +51.29	points +0.40% on Tuesday May 6

Sym Last........ ........Change..........
Dow	13,020.83	+51.29	+0.40%
Nasdaq	2,483.31	+19.19	+0.78%
S&P 500	1,418.26	+10.77	+0.77%
30-yr Bond	4.6420%	+0.0610

NYSE Volume	3,844,558,250
Nasdaq Volume	2,162,198,500

*Overseas*
Japan's stock market was closed for a holiday. In Europe, Britain's FTSE index finished flat, Germany's DAX index fell 0.50 percent, and France's CAC-40 fell 0.44 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,215.20	-0.30	-0.00%
DAX	7,017.10	-34.98	-0.50%
CAC 40	5,040.92	-22.44	-0.44%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	14,049.26	closed for holiday
Hang Seng	26,262.13	+78.18	+0.30%
Straits Times	3,248.75	+0.71	+0.02%

http://biz.yahoo.com/ap/080506/wall_street.html
*Stocks lift even as oil prices soar near $123 a barrel*
Tuesday May 6, 4:36 pm ET
By Madlen Read, AP Business Writer
*Wall Street lifts even as crude-oil prices surge near $123 a barrel, credit worries linger*

NEW YORK (AP) -- Wall Street reversed early losses to close higher Tuesday, as investors monitored the movements of record high oil prices but still laid bets that the economy and companies are in recovery mode.

Crude oil climbed to a record near $123 a barrel on the New York Mercantile Exchange as traders, who have nearly doubled the price of oil over the past year, reacted to the weakening U.S. dollar, supply threats, and a note from Goldman Sachs predicting that oil could reach $200 a barrel. High oil prices threaten to crimp consumers' discretionary spending.

But oil price sticker-shock waned and as investors looked past wider-than-expected quarterly losses at Swiss bank UBS, government-sponsored mortgage company Fannie Mae, and homebuilder D.R. Horton Inc.

"I think overall, the strength in stocks right now is on fairly firm footing," said JPMorgan equities analyst Thomas J. Lee. "In some ways, first-quarter earnings are yesterday's news."

In recent weeks, stronger-than-expected results from companies outside the battered financial and housing sectors helped the stock market rebound to levels not seen since early January. Economic data has been better than expected -- particularly Friday's employment report and Monday's data on the service sector -- and meanwhile, the credit markets keep showing increased appetite for the risk that investors had avoided for months.

According to preliminary calculations, the Dow Jones industrial average rose 51.29, or 0.40 percent, to 13,020.80.

Broader stock indicators also rebounded. The Standard & Poor's 500 index rose 10.77, or 0.77 percent, to 1,418.26, and the Nasdaq composite index rose 19.19, or 0.78 percent, to 2,483.31.

Bond prices pared earlier gains. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was at 3.90 percent, down from 3.87 percent late Monday.

Ryan Detrick, senior technical strategist at Schaeffer's Investment Research, said it is a good sign that stock traders started buying back in again when the S&P 500 briefly dipped below the technically significant 1,400 mark.

"We had some negative news this morning, and we've shaken it off. It's encouraging," Detrick said.

Huge quarterly losses from three major players in the financial and homebuilding industries initially sparked some stock selling Tuesday, but those dips were soon met by bargain-hunters, who are betting that those sectors are a good buy right now given their low prices.

Fannie Mae reported a larger-than-expected first-quarter loss of $2.2 billion, and said it plans to lower its dividend and raise $6 billion in additional capital. But it also estimated its market share increased to about 50 percent of the new single-family mortgage related securities issued. Fannie Mae shares rebounded to rise $2.52, or 8.9 percent, to $30.81.

Homebuilder D.R. Horton reported a quarterly loss of $1.3 billion and halved its dividend to 7.5 cents a share. The homebuilder's shares rose 88 cents, or 5.1 percent, to $16.85.

UBS reported a loss of nearly $11 billion and said it is reducing its work force by about 7 percent. UBS shares dipped 54 cents to $33.77.

Meanwhile, Wachovia Corp. said it is nearly doubling its previously reported loss for the first quarter to $708 million after reviewing its portfolio of bank-owned life insurance. Wachovia's stock rose 30 cents to $30.08.

After the closing bell, Walt Disney Co. posted a higher second-quarter profit on stronger-than-expected theme park attendance. Shares closed up 44 cents at $33.73, and moved higher in electronic trading.

Cisco Systems Inc. said third-quarter profit declined, but the networking gear maker's adjusted earnings and revenue topped Wall Street projections. Shares rose 5 cents to close at $26.33, then tacked on another 2 percent in after-hours trading.

Oil settled up $1.87 at $121.84 on the New York Mercantile Exchange. Gold climbed, while the dollar fell against most other major global currencies.

The Russell 2000 index of smaller companies rose 5.44, or 0.75 percent, to 729.79.

Advancing issues outnumbered decliners by about 8 to 7 on the New York Stock Exchange, where volume amounted to a light 1.23 billion shares.

Overseas, Japan's stock market was closed for a holiday. In Europe, Britain's FTSE index finished flat, Germany's DAX index fell 0.50 percent, and France's CAC-40 fell 0.44 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street tumbled Wednesday as the price of a barrel of oil soared to a record near $124 and touched off concerns that the stock market's recent gains might have been premature as consumers grapple with rising energy and food costs. The major stock market indexes each lost more than 1.5 percent, with the Dow Jones industrial average declining by more than 200 points.

The NYSE DOW closed LOWER by -206.48 points -1.59% on Wednesday May 7

Sym Last........ ........Change..........
Dow 12,814.35 -206.48 -1.59% 
Nasdaq 2,438.49 -44.82 -1.80% 
S&P 500 1,392.57 -25.69 -1.81% 
10 Yr Bond(%) 3.8670% -0.0260 


*Overseas*
Japan's stock market rose 0.38 percent. Britain's FTSE index closed up 0.74 percent, Germany's DAX index rose 0.84 percent, and France's CAC-40 rose 0.68 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 6,261.00 +45.80 +0.74% 
DAX 7,076.25 +59.15 +0.84% 
CAC 40 5,075.31 +34.39 +0.68% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 14,102.48 +53.22 +0.38% 
Hang Seng 25,610.21 -651.92 -2.48% 
Straits Times 3,212.14 -36.61 -1.13% 

http://biz.yahoo.com/ap/080507/wall_street.html
*Stocks retreat as oil prices creep higher*
Wednesday May 7, 6:15 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks retreat as oil prices keep trekking to new records; crude surges past $123 a barrel *

NEW YORK (AP) -- Wall Street tumbled Wednesday as the price of a barrel of oil soared to a record near $124 and touched off concerns that the stock market's recent gains might have been premature as consumers grapple with rising energy and food costs. The major stock market indexes each lost more than 1.5 percent, with the Dow Jones industrial average declining by more than 200 points.

Sharp gains in commodities prices have drawn fresh attention from investors worried that consumers -- the lifeblood of the U.S. economy -- will be forced to pare discretionary spending to keep up with increasing costs for necessities.

Oil prices have doubled over the past year, causing gasoline prices to surge further into record terrain and strap consumers, who drive more than two-thirds of economic activity, with another financial burden.

Wall Street slid amid a cacophony of worries about the effects of rising prices. Kansas City Federal Reserve President Thomas Hoenig in a speech late Tuesday pointed to inflation as his main concern. Treasury Secretary Henry Paulson said in an interview with The Associated Press Wednesday that while the worst of the credit crisis might have passed, rising gas prices will dampen the benefits from the 130 million economic stimulus checks that the government is distributing.

While some observers say recent stock market gains had come too quickly anyway, others contend the market's declines reflect more serious worries about the difficulties blanketing consumers.

Ed Peters, chief investment officer at PanAgora Asset Management in Boston, said, "It is going to be a drag if we continue to get rising prices. The oil price is just symptomatic of a broader trend."

But Stephen Carl, head of equity trading at The Williams Capital Group, said that while rising oil prices appeared to rattle investors, many had also seen sizable gains from stocks in recent weeks and wanted to preserve their profits.

"Perhaps we fall away here for a few sessions," he said, noting that the Standard & Poor's 500 index's rebound to the 1,400 level might have been too hasty for some investors.

The Dow fell 206.48, or 1.59 percent, to 12,814.35, after fluctuating early in the session.

Broader stock indicators also declined. The S&P 500 fell 25.69, or 1.81 percent, to 1,392.57, and the Nasdaq composite index fell 44.82, or 1.80 percent, to 2,438.49.

Bond prices rose as investors pulled more money out of stocks and placed it in the safer confines of the Treasury market. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.85 percent from 3.92 percent late Tuesday.

Light, sweet crude rose $1.69 to settle at $123.53 a barrel on the New York Mercantile Exchange, but traded just pennies away from $124 during Wall Street trading.

The dollar rebounded against other major global currencies, and gold prices fell.

While stocks pulled back, the day was not without good news. The Labor Department said labor costs rose at an annual rate of 2.2 percent during the first quarter. That's down from a 2.8 percent rise the previous quarter, suggesting that inflation pressures may be letting up.

But there have not been enough strong readings lately to give investors the nudge they need to push the Dow back above the four-month highs it reached last week. Market analyst Edward Yardeni noted that the Dow, the S&P 500 and many key individual stocks are close to their 200-day moving averages.

"Not everybody's a fan of technical analysis, but everyone knows that this is an important technical level," Yardeni said. "We need some really good bullish news to break above that average."

In corporate news, Clearwire and Sprint Nextel Corp. said they are planning to merge their wireless broadband units to create a new $14.55 billion wireless communications company. The new company is getting a $3.2 billion investment from Intel Corp., Google Inc., Comcast Corp., Time Warner Cable Inc. and Bright House Networks.

Clearwire fell 24 cents to $16.22 after spending most of the session higher and Sprint slipped 3 cents to $9.16.

In earnings news, The Walt Disney Co. reported late Tuesday its profit in the most recent quarter rose 22 percent despite the Hollywood writers' strike. Disney was among the handful of the 30 stocks that comprise the Dow industrials to advance, rising 97 cents, or 2.9 percent, to $34.70.

Yardeni noted that while the first-quarter earnings season began several weeks ago with worse-than-expected results from General Electric Co., it ended up bringing decent numbers, with earnings excluding the financial sector rising close to 10 percent.

"There is a perception in the markets we had a great move here since March, and that we need to take a break from the rally for a while," Yardeni said. "And then we'll be set up for a summer rally."

The Russell 2000 index fell 13.58, or 1.86 percent, to 716.21.

Declining issues outnumbered advancers by more than 2 to 1 on the New York Stock Exchange, where consolidated volume came to 3.94 billion shares compared with 3.77 billion shares traded Thursday.

Overseas, Japan's stock market rose 0.38 percent. Britain's FTSE index closed up 0.74 percent, Germany's DAX index rose 0.84 percent, and France's CAC-40 rose 0.68 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street closed a quiet session with a moderate advance Thursday, with energy and other commodities companies leading the market as oil prices extended their record-breaking run.

The NYSE DOW closed HIGHER by +52.43 points	+0.41% on Thursday May 8

Sym Last........ ........Change..........
Dow	12,866.78	+52.43	+0.41%
Nasdaq	2,451.24	+12.75	+0.52%
S&P 500	1,397.68	+5.11	+0.37%
30-yr Bond	4.5640%	-0.0580

NYSE Volume	3,827,561,500
Nasdaq Volume	2,100,801,250

*Overseas*
Japan's Nikkei index fell 1.13 percent, Britain's FTSE index rose 0.16 percent, Germany's DAX index fell 0.06 percent, and France's CAC-40 fell 0.39 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,270.80	+9.80	+0.16%
DAX	7,071.90	-4.35	-0.06%
CAC 40	5,055.58	-19.73	-0.39%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,943.26	-159.22	-1.13%
Hang Seng	25,449.79	-160.42	-0.63%

http://biz.yahoo.com/ap/080508/wall_street.html
*Stocks rise modestly even as oil extends record high run*
Thursday May 8, 5:53 pm ET
By Madlen Read, AP Business Writer
*Wall Street, led by commodities producers, rises as oil prices reach new record above $124*

NEW YORK (AP) -- Wall Street closed a quiet session with a moderate advance Thursday, with energy and other commodities companies leading the market as oil prices extended their record-breaking run.

The price of crude oil swept past $124 a barrel in late New York Mercantile Exchange trading, while gasoline rose to a new record of its own at the pump, climbing to a national average of nearly $3.65 a gallon.

Although the rising price of oil ignited concerns about inflation on Wednesday, knocking the Dow Jones industrial average down more than 200 points, stocks managed to hold on to their gains even as oil rose Thursday. Some of the big gainers were the companies that would benefit the most from higher commodities prices -- the oil companies and metals producers like Alcoa Inc. -- and they helped lift the major indexes.

Stocks also rose after retailers issued April sales results that, while not strong overall, were less gloomy than expected. The data suggested that high energy costs are leading consumers to alter their spending, and Wal-Mart Stores Inc. was one of the beneficiaries of that trend. But some apparel stores -- whose merchandise falls into the category of discretionary items -- again saw depressed sales as consumers budgeted more for gasoline and food.

Financial stocks were the worst performers of the day. Philip S. Dow, managing director of equity strategy at RBC Dain Rauscher in Minneapolis, said investors likely are still jittery over the sector, with continued concern about whether the companies have problems on their books beyond subprime mortgages. "Our guess is that the worst is not over for the financials on a fundamentals basis," he said.

The Dow rose 52.43, or 0.41 percent, to 12,866.78.

Broader stock indicators turned higher after fluctuating at times during the session. The Standard & Poor's 500 index rose 5.11, or 0.37 percent, to 1,397.68, and the Nasdaq composite index rose 12.75, or 0.52 percent, to 2,451.24.

Bond prices rose as some investors sought the safety of government debt despite the gains in stocks. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.78 percent in late trading from 3.85 percent late Wednesday.

Gold prices rose, while the dollar declined against most other major global currencies.

Mixed economic readings and lofty energy prices could keep the market in a holding pattern through the summer, said Janna Sampson, director of portfolio management at Oakbrook Investments. "With oil high and continuing to go up, it's going to be tough to get the market to have a sustainable rally."

Alfred E. Goldman, chief market strategist at Wachovia Securities, was a bit more optimistic, saying he estimates the economy is four months away from the end of an average-length recession, so the stock market should resume its climb again soon.

"Basically, the market is taking a time-out after the prior six weeks," Goldman said. "The bigger picture is a market that's in the process of transitioning from a bear to a bull, shifting from a situation where the glass is half-empty to one where the glass is half-full. And that takes time."

In a positive sign for the U.S. employment picture, which has seen four straight months of jobs losses, the Labor Department said Thursday the number of newly laid off workers seeking unemployment benefits dropped by 18,000 last week to 365,000 -- a larger decline than expected.

Aluminum producer Alcoa rose $1.56, or 4.1 percent, to $39.65. Oil companies also gained; Exxon Mobil Corp. rose $1.11 to $89.93, while Chevon Corp. was up $2.11, or 2.3 percent, at $97.44.

Wal-Mart rose 33 cents to $57.16, but Target Corp. fell $1.10, or 2.1 percent, to $52.34 after saying its same-store sales rose in April by an amount that was smaller than analysts forecast. Same-store sales are an important barometer of a retailer's health that reflects sales at stores open at least a year.

A weak U.S. consumer weighed on Toyota Motor Corp., which said late Wednesday that profits in the January-to-March period tumbled 28 percent due to the rising yen and weak North American sales. The Japanese automaker also predicted sales will drop for the fiscal year through March 2009 for the first time in several years, and that earnings will fall 27 percent.

Toyota's U.S.-traded shares fell $4.20 or 4 percent, to $100.56.

The Russell 2000 index rose 3.34, or 0.47 percent, to 719.55.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where consolidated volume amounted to a light 3.70 billion shares, compared with 3.94 billion shares traded Wednesday.

The European Central Bank left its interest rates unchanged Thursday. ECB President Jean-Claude Trichet pointed to clear upside risks to price stability, indicating that the bank is unlikely to lower its rates in the near future.

In overseas trading, Japan's Nikkei index fell 1.13 percent, Britain's FTSE index rose 0.16 percent, Germany's DAX index fell 0.06 percent, and France's CAC-40 fell 0.39 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average ended the week down 312.32, or 2.39 percent, at 12,745.88. The Standard & Poor's 500 index finished down 25.62, or 1.81 percent, at 1,388.28. The Nasdaq composite index ended the week down 31.47, or 1.27 percent, at 2,445.52.

Insurer American International Group Inc. helped send the Dow Jones industrial average down about 120 points after posting a wider-than-expected first-quarter loss that rekindled anxiety about the strained state of the global financial system.

The NYSE DOW closed LOWER by -120.90 points	-0.94% on Friday May 9

Sym Last........ ........Change..........
Dow	12,745.88	-120.90	-0.94%
Nasdaq	2,445.52	-5.72	-0.23%
S&P 500	1,388.28	-9.40	-0.67%
30-yr Bond	4.5240%	-0.0400

NYSE Volume	3,520,940,000
Nasdaq Volume	1,714,386,000

*Overseas*
Japan's stock market fell 2.06 percent. Britain's FTSE index fell 1.05 percent, Germany's DAX index fell 0.97 percent, and France's CAC-40 fell 1.88 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,204.70	-66.10	-1.05%
DAX	7,003.17	-68.73	-0.97%
CAC 40	4,960.56	-95.02	-1.88%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,655.34	-287.92	-2.06%
Hang Seng	25,063.17	-386.62	-1.52%

http://biz.yahoo.com/ap/080509/wall_street.html
*Stocks decline as AIG reveals need for cash, oil surges*
Friday May 9, 5:48 pm ET
By Tim Paradis, AP Business Writer
*Stocks decline after AIG reports massive loss and cash needs; oil extends record climb*

NEW YORK (AP) -- Wall Street ended the week with a big decline as investors grappled with two of the biggest threats to the economy: fallout from turmoil in the credit market and surging energy prices. All three major indexes suffered losses for the week.

Insurer American International Group Inc. helped send the Dow Jones industrial average down about 120 points after posting a wider-than-expected first-quarter loss that rekindled anxiety about the strained state of the global financial system.

AIG reported it lost $7.81 billion -- its second straight quarterly loss -- and revealed plans to raise $12.5 billion in the coming months. The world's largest insurer, like many of its peers in the financial services sector, has seen its investments in the credit markets plunge in value.

Meanwhile, rising crude oil prices remained a source of worry for investors, as they had much of the week and in recent months. Oil futures rose above $126 a barrel for the first time, further stoking Wall Street's concerns about inflation that could curtail consumer spending. Light, sweet crude rose as high as $126.20 on the New York Mercantile Exchange before settling at a record $125.96. For the week, oil jumped nearly $10.

Phil Orlando, chief equity market strategist at Federated Investors said investors retreated primarily because of the AIG news.

"That news came as something of a surprise to some and a wake-up call to most that the financial-service companies are not yet out of the woods."

But Orlando noted that the market has pulled back this week after a sizable rebound in the last two months and that some investors might be eager to lock in profits while Wall Street irons out some concerns about the financial sector.

"Our view has been that the market, generally speaking, is in pretty good shape with the exception of the financial service companies and the consumer dictionary companies," he said, noting that the news from AIG is an important reminder of the troubles remaining among financials.

The Dow fell 120.90, or 0.94 percent, to 12,745.88.

Broader stock indicators were also lower a day after the stock market notched a modest advance. The Standard & Poor's 500 index fell 9.40, or 0.67 percent, to 1,388.28, and the Nasdaq composite index fell 5.72, or 0.23 percent, to 2,445.52.

For the week, the Dow fell 2.39 percent, the S&P 500 declined 1.81 percent and the Nasdaq lost 1.27 percent.

Bond prices were little changed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, stood at 3.78 percent late Friday, unchanged from late Thursday.

Gold prices advanced, while the dollar traded mixed against other major global currencies.

The economic figures arriving Friday underscored the slowdown in the U.S. economy. The Commerce Department said the U.S. trade deficit narrowed in March as demand for imports registered the biggest decline since the last recession was ending. The deficit stood at $58.2 billion, a decrease of 5.6 percent from February. The 2.9 percent drop in demand for imports was the steepest monthly decline since December 2001 -- a month after the last recession ended.

Noman Ali, portfolio manager of U.S. equities for MFC Global Investment Management in Toronto, doesn't expect the market will test its March lows and said some of Wall Street's angst over rising oil prices is overdone.

"Our view is still positive on the market. Obviously oil is hurting but I think the consumer fiscal stimulus package is going to help," he said, referring to rebates the U.S. government is now distributing.

He contends the wealthier Americans who account for an outsize percentage of U.S. consumer spending won't stop reaching into their wallets because of higher oil prices and that overall spending hold up better than some on Wall Street are predicting.

In corporate news, AIG fell $3.87, or 8.8 percent, to $40.28 after reporting its loss. The stock was by far the steepest decliner among the 30 that comprise the Dow industrials.

Citigroup Inc. said it hopes to shed between $400 billion and $500 billion in assets and increase revenue by 9 percent over the next few years as it tries to recover from big losses tied to deterioration in the mortgage and credit markets. Citi, one of the Dow 30 stocks, fell 67 cents, or 2.8 percent, to $23.63.

General Motors Corp., also a Dow component, fell 86 cents, or 4.1 percent, to $20.29 after reporting in a regulatory filing it would provide financial support to help settle the 10-week strike at auto parts supplier American Axle and Manufacturing Holdings Inc.

Consumer electronics chain Circuit City Stores Inc. said it received a letter from suitor Blockbuster Inc. that the company's largest shareholder, financier Carl Icahn, is prepared to buy Circuit City even if the video rental chain can't win the necessary financing or shareholder approval.

Circuit City jumped 28 cents, or 5.9 percent, to $5.07, while Blockbuster slipped 2 cents to $2.66.

Investors' caution Friday precedes what will likely be a busy week of economic news now that the flow of quarterly earnings reports is beginning to ebb.

"Next week I think will be a fairly important economic week," Orlando said, pointing to expected reports on retail sales, retail inventories, industrial production and regional manufacturing.

Declining issues outnumbered advancers by about 8 to 7 on the New York Stock Exchange, where consolidated volume came to 3.40 billion shares, compared with 3.70 billion traded Thursday.

The Russell 2000 index of smaller companies rose 0.50, or 0.07 percent, to 720.05.

Overseas, Japan's stock market fell 2.06 percent. Britain's FTSE index fell 1.05 percent, Germany's DAX index fell 0.97 percent, and France's CAC-40 fell 1.88 percent.

The Dow Jones industrial average ended the week down 312.32, or 2.39 percent, at 12,745.88. The Standard & Poor's 500 index finished down 25.62, or 1.81 percent, at 1,388.28. The Nasdaq composite index ended the week down 31.47, or 1.27 percent, at 2,445.52.

The Russell 2000 index finished the week down 5.69, or 0.78 percent, at 720.05.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 14,040.05, down 211.01 points, or 1.48 percent, for the week. A year ago, the index was at 15,259.58.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street rallied Monday as oil prices, supported by a stronger dollar, fell back and alleviated some of investors' concerns about accelerating inflation. The Dow Jones industrials gained 130 points.

The NYSE DOW closed HIGHER by +130.43 points	+1.02% on Monday May 12

Sym Last........ ........Change..........
Dow	12,876.31	+130.43	+1.02%
Nasdaq	2,488.49	+42.97	+1.76%
S&P 500	1,403.58	+15.30	+1.10%
30-yr Bond	4.5220%	-0.0020

NYSE Volume	3,326,991,250
Nasdaq Volume	1,771,534,250

*Overseas*
Japan's Nikkei stock average rose 0.64 percent. Britain's FTSE 100 rose 0.26 percent, Germany's DAX index rose 0.47 percent, and France's CAC-40 rose 0.32 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,220.60	+15.90	+0.26%
DAX	7,035.95	+32.78	+0.47%
CAC 40	4,976.21	+15.65	+0.32%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,743.36	+88.02	+0.64%
Hang Seng	25,063.17	-386.62	-1.52%

http://biz.yahoo.com/ap/080512/wall_street.html
*Stocks advance as oil falls, dollar advances*
Monday May 12, 4:30 pm ET
By Tim Paradis, AP Business Writer
*Wall Street advances as crude oil prices register modest decline, dollar shows rebound*

NEW YORK (AP) -- Wall Street rallied Monday as oil prices, supported by a stronger dollar, fell back and alleviated some of investors' concerns about accelerating inflation. The Dow Jones industrials gained 130 points.

The dollar's advance, a break from the greenback's long losing streak, also helped soothe some of Wall Street's worries about inflation's impact on consumer spending. The dollar's gain helped send light, sweet crude oil down $1.73 to settle at $124.23 per barrel on the New York Mercantile Exchange. Oil briefly reached a new trading high of $126.40, but investors seemed shy, for the time being at least, to add to oil's huge gain of nearly $10 last week.

"This market does seem to be reacting positively to any sort of easing we see in the energy patch," said Craig Peckham, market strategist at Jefferies & Co.

Investors also got some encouraging news about the credit crisis from London-based HSBC Holdings PLC, which said its first-quarter profits were up from a year ago although the global banking company took a $3.2 billion write-down on subprime mortgage assets in the United States. The company did echo other assessments that the U.S. was likely to fall into recession this year.

JPMorgan Chase & Co. CEO Jamie Dimon said at a conference Monday he estimates the credit market crisis is 75 percent over, but that the recession is just beginning.

Monday's gains showed investors are still willing to lay some bets, although some market watchers said Wall Street will still likely see stocks fluctuate as investors try to determine the economy's direction. Monday's advance follows a week in which the major indexes all fell as worries about the impact of inflation weighed on investors.

Peckham said some of the buying was a natural move higher after last week's decline, in which the Dow industrials lost 2.4 percent and the S&P 500 declined 1.81 percent.

"This market, after having had a pretty rough last week, is prone to drawing in some more value-seekers," he said.

According to preliminary calculations, the Dow rose 130.43, or 1.02 percent, to 12,876.31.

Broader stock indicators also rose. The Standard & Poor's 500 index advanced 15.30, or 1.10 percent, to 1,403.58, and the Nasdaq composite index rose 42.97, or 1.76 percent, to 2,488.49.

Bond prices dipped. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.80 percent from 3.78 percent late Friday. The dollar was higher against most other major currencies, while gold prices fell.

The flow of first-quarter earnings reports is beginning to dwindle, so Wall Street will likely require some big news on the economy -- such as a sharp reversal in commodities prices -- to dislodge the markets from their current position, said Ted Oberhaus, director of equity trading at Lord, Abbett & Co.

"We're the majority of the way through the earnings season and it has been relatively productive. With that as a backdrop, I would expect a range-driven appreciation over the next few months," Oberhaus said.

Hewlett Packard Co. fell $2.49, or 5.1 percent, to $46.64 after the technology company confirmed it is in talks with Electronic Data Systems Corp. about a possible combination. Shares of EDS spiked $5.27, or 28 percent, to $24.13.

MBIA Inc. posted a $2.41 billion first-quarter loss, as the struggling bond insurer took heavy charges to write down the value of liabilities amid continued deterioration in the credit markets. The stock rose 47 cents, or 5 percent, to $9.90 following comments from the company on the strength of its balance sheet.

Research In Motion Ltd. rose $8.93, or 6.7 percent, to $141.70 as the handheld electronics maker introduced its first major new BlackBerry model in more than a year.

Investors will be looking to other readings on consumers this week to determine the toll rising energy costs might be having. Government figures are due on retail sales in April. And retailers including Wal-Mart Stores Inc., Macy's Inc., JCPenney Co. and Kohls Corp. are due to report first-quarter results.

Advancing issues outnumbered decliners by more than 2 to 1 on the New York Stock Exchange, where volume came to a light 908.5 million shares.

The Russell 2000 index of smaller companies rose 13.18, or 1.83 percent, to 733.23.

Overseas, Japan's Nikkei stock average rose 0.64 percent. Britain's FTSE 100 rose 0.26 percent, Germany's DAX index rose 0.47 percent, and France's CAC-40 rose 0.32 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street turned in a mixed performance Tuesday after a fresh report on retail sales and a new oil price record told investors the same old story: The economy is hurting and costs are rising, but things could be worse.

The NYSE DOW closed HIGHER by -44.13 points	-0.34% on Tuesday May 13

Sym Last........ ........Change..........
Dow	12,832.18	-44.13	-0.34%
Nasdaq	2,495.12	+6.63	+0.27%
S&P 500	1,403.04	-0.54	-0.04%
30-yr Bond	4.6190%	+0.0970

NYSE Volume	3,984,684,000
Nasdaq Volume	1,895,167,120


*Overseas*
Japan's Nikkei stock average rose 1.53 percent. Britain's FTSE 100 slid 0.14 percent, Germany's DAX index rose 0.34 percent, and France's CAC-40 rose 0.45 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,211.90	-8.70	-0.14%
DAX	7,060.19	+24.24	+0.34%
CAC 40	4,998.67	+22.46	+0.45%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,953.73	+210.37	+1.53%
Hang Seng	25,552.77	+489.60	+1.95%
Straits Times	3,203.42	+23.26	+0.73%

http://biz.yahoo.com/ap/080513/wall_street.html
*Stocks mixed after retail sales report, spiking oil*
Tuesday May 13, 4:28 pm ET
By Madlen Read, AP Business Writer
*Wall Street mixed after retail sales report; oil rises to another record near $127 a barrel*

NEW YORK (AP) -- Wall Street turned in a mixed performance Tuesday after a fresh report on retail sales and a new oil price record told investors the same old story: The economy is hurting and costs are rising, but things could be worse.

The Commerce Department's latest report showed that retail sales fell by 0.2 percent in April, as expected. The data did show better-than-expected sales if automobiles are excluded, but indicated Americans are reluctant to make big-ticket purchases -- especially as soaring fuel prices cut into demand.

"The numbers are coming out weak, but the economy's not falling apart," said Alexander Paris, economist and market analyst for Chicago-based Barrington Research. "On balance, they were negative, but you'd expect them to be."

Oil prices, meanwhile, spiked to a trading record of $126.98 a barrel on the New York Mercantile Exchange after Iranian news services reported Iran is considering a cut to output. They later settled up $1.57 at $125.80.

Tuesday's wavering trading in the stock market reflected its ongoing uncertainty about the economy. Brian Gendreau, investment strategist for ING Investment Management, believes investors won't get a clear picture until more data is released in June and July.

"We're going to go through a period where the markets are going to focus on the macro-data, and any adverse piece of news about the credit markets," he said. "It will be a trendless market until the uncertainties about a contraction in economic activity are resolved."

According to Federal Reserve Chairman Ben Bernanke, turmoil in financial markets has eased somewhat. He noted during his speech in Atlanta that the markets for certain mortgage-backed securities, such as those backed by Fannie Mae and Freddie Mac, as well as some fixed-rate mortgages and corporate debt have improved. He did say, though, that the situation remains "far from normal."

According to preliminary calculations, the Dow Jones industrial average fell 44.13, or 0.34 percent, to 12,832.18, having soared 130 points on Monday.

Broader indexes closed mixed. The Standard & Poor's 500 index fell 0.54, or 0.04 percent, to 1,403.04, and the Nasdaq composite index rose 6.63, or 0.27 percent, to 2,495.12.

The technology-heavy Nasdaq got a boost as Yahoo Inc. rose after CNBC reported billionaire investor Carl Icahn was considering a proxy fight to try to push Yahoo back into merger discussions with Microsoft Corp.

Yahoo rose $1.30, or 5.2 percent, to $26.56.

Government bond prices fell as the Treasury market focused on the better-than-expected details in the retail sales report. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.90 percent from 3.80 percent late Monday.

The Commerce Department also reported that businesses added to their inventories in March by the smallest amount in a year. Inventories edged up a tiny 0.1 percent in March, the smallest advance since they were basically flat in March 2007.

In corporate news, investors examined a number of high-profile acquisitions, including Hewlett-Packard Co.'s offer to buy Electronic Data Systems Corp. for $12.6 billion. The deal to combine Hewlett-Packard with EDS will create the second-largest technology services provider behind International Business Machines Corp.

EDS shares added 26 cents to $24.34, while Hewlett-Packard fell $2.56, or 5.5 percent, to $44.27.

Staples Inc. raised its hostile bid to acquire Dutch rival Corporate Express NL.

Staples rose 48 cents, or 2.2 percent, to $22.44 after the office supply retailer sweetened its offer price by 10 percent. Corporate Express said it is willing to consider the deal.

And investors got another read on the consumer after Wal-Mart Stores Inc., the world's largest retailers, reported first-quarter profit above Wall Street predictions but also forecasted that the current quarter will come in below expectations.

Wal-Mart fell $1.37, or 2.4 percent, to $56.65.

Luxury home builder Toll Brothers Inc. said its preliminary results show homebuilding revenue fell 30 percent in its fiscal second quarter amid a weak spring selling season. The company also expects to continue to face "challenging times" ahead, given soft conditions in most markets. Shares shed 10 cents to $22.97.

The Russell 2000 index of smaller companies rose 3.62, or 0.49 percent, to 736.85.

Advacing issues outnumbered decliners by about 8 to 7 on the New York Stock Exchange, where volume came to 1.21 billion shares.

Overseas, Japan's Nikkei stock average fell 1.53 percent. Britain's FTSE 100 slid 0.14 percent, Germany's DAX index rose 0.34 percent, and France's CAC-40 rose 0.45 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## Birdster

bigdog said:


> NYSE Dow Jones finished today at:
> Source: http://finance.yahoo.com
> 
> ...
> 
> The NYSE DOW closed HIGHER by -44.13 points	-0.34% on Tuesday May 13
> 
> ...
> 
> New York Stock Exchange: http://www.nyse.com
> 
> Nasdaq Stock Market: http://www.nasdaq.com





Closed "higher" by -44.13   LOL

But this is my chance to say thank-you Big Dog for collecting and posting this information every day. An effort that makes historical SP tracing a breeze as well as gives ASF readers an overview of what the os markets have endured. 

What a fantastic contribution you make to this site...."Thank-You Big Dog!"


----------



## ba229

Got to admit I come to this thread every morning for a quick over view of what has been happening over night. It is a great resource.


----------



## bigdog

Birdster said:


> Closed "higher" by -44.13   LOL
> 
> But this is my chance to say thank-you Big Dog for collecting and posting this information every day. An effort that makes historical SP tracing a breeze as well as gives ASF readers an overview of what the os markets have endured.
> 
> What a fantastic contribution you make to this site...."Thank-You Big Dog!"




Many thanks Birdster

I do not have much time in the morning to post this at about 6:35 AM and then off to work (three days a week)

I do enjoy posting to ASF

My Share Market Movers daily update was removed from ASF because of concerns with copyright.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street advanced Wednesday after a better-than-expected report on consumer prices tempered some of the market's concerns about inflation.

The NYSE DOW closed HIGHER by +66.20	 points +0.52% on Wednesday May 14

Sym Last........ ........Change..........
Dow	12,898.38	+66.20	+0.52%
Nasdaq	2,496.70	+1.58	+0.06%
S&P 500	1,408.66	+5.62	+0.40%
30-yr Bond	4.6370%	+0.0180

NYSE Volume	3,946,675,750
Nasdaq Volume	2,129,272,000


*Overseas*
Japan's Nikkei stock average rose 1.18 percent. In afternoon trading, Britain's FTSE 100 rose 0.07 percent, Germany's DAX index rose 0.33 percent, and France's CAC-40 advanced 1.13 percent.


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,216.00	+4.10	+0.07%
DAX	7,083.24	+23.05	+0.33%
CAC 40	5,055.24	+56.57	+1.13%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	14,118.55	+164.82	+1.18%
Hang Seng	25,533.48	-19.29	-0.08%
Straits Times	3,198.51	-4.91	-0.15%

http://biz.yahoo.com/ap/080514/wall_street.html
*Stocks advance following better-than-expected inflation read*
Wednesday May 14, 4:45 pm ET
By Tim Paradis, AP Business Writer
*Wall Street advances after better-than-expected consumer price report eases inflation concerns*

NEW YORK (AP) -- Wall Street advanced Wednesday after a better-than-expected report on consumer prices tempered some of the market's concerns about inflation.

The Labor Department's report that consumer prices advanced 0.2 percent in April after rising 0.3 percent in March seemed to alleviate investors' worries that the recent surge in energy costs would force prices throughout the economy to spike higher. The moderation in prices comes despite the largest jump in food prices in 18 years.

Wall Street has been concerned that higher food and energy costs are cutting into consumers' ability to spend. Any pullback is an unnerving prospect for investors because consumer spending accounts for more than two-thirds of U.S. economic activity.

Marc Pado, U.S. market strategist for Cantor Fitzgerald, said the tame consumer prices reading, along with recent figures on productivity, indicate that businesses are swallowing some of the rising costs they face and not passing all of them to consumers.

"You have higher input costs but you're getting more out of your workers so therefore you're able to control your output costs," he said. "The economy is lean and mean and doing well even though on the demand side it's slumping."

According to preliminary calculations, the Dow rose 66.20, or 0.51 percent, to 12,898.38. A late sell-off in technology stocks caused the market to pare its gains, with the blue chip index at times up more than 150 points.

Broader stock indicators also advanced. The Standard & Poor's 500 index rose 5.62, or 0.40 percent, to 1,408.66. The Nasdaq composite index rose 1.58, or 0.06 percent, to 2,496.70.

Light, sweet crude oil fell $1.58 to settle at $124.22 a barrel on the New York Mercantile Exchange.

Bond prices ticked lower as stocks advanced. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.91 percent from 3.94 percent late Tuesday.

The dollar was mixed against other major currencies, while gold prices fell.

Though Wednesday's data was comforting and major indexes are approaching their highs of the month, that doesn't mean Wall Street has conquered its problems and is set for a rebound from months of turmoil. Analysts warn that examining stocks by sector shows that one in particular is still being left behind -- financials.

Steve Goldman, chief market strategist at Weeden & Co., said he remains troubled about the financial industry's underperformance amid lingering worries that the credit crisis is still not over. He said that sector has been pulled higher by the market's recent overall rise, but isn't taking the leadership position needed to lead a bona fide rally.

"They tend to outperform the S&P by a 50 percent margin, but we're not seeing that at all," he said of financials. "This has been a nice rally, but for those of us that are bullish about the market, we're going to need to see them outperform in order to feel comfortable going long."

Concerns that major investment banks and retail banks have more write-downs in coming quarters has put pressure on their stock prices. For instance, Lehman Brothers Holdings Inc. is down about 8.5 percent from its highs this month, while the S&P is down by only 1 percent.

"They led us into the crisis, but they're not yet leading us out of it," he said. "That's what needs to happen."

On Tuesday, leadership went to technology stocks -- with the Nasdaq at one point up 1.3 percent. However, investors collected profits during the last hour of trading and sent big tech names sharply lower. Apple Inc. fell $3.70, or 2 percent, to $182.26, after trading as high as $192.24 during the session.

In corporate news, Macy's Inc. reported it lost $59 million in the first quarter because of weaker sales and costs tied to combining businesses. But the results topped Wall Street's expectations and the stock rose 87 cents, or 3.6 percent, to $24.93.

Deere & Co. said its fiscal second-quarter profit rose 22 percent as higher crop prices drove global demand for its farm equipment. But the company said rising costs of raw materials could eat into its profits in the coming months. Deere fell $8.94, or 9.9 percent, to $81.25.

Jack in the Box Inc. fell $2.90, or 9.9 percent, to $24.87 after the fast food chain said sales at restaurants open at least a year fell short of forecasts for the fiscal second quarter. The company lowered its sales target for the third quarter.

Advancing issues outnumbered decliners by more than 3 to 2 on the New York Stock Exchange, where volume came to 1.18 billion shares.

The Russell 2000 index of smaller companies fell 0.78, or 0.11 percent, to 736.07.

Overseas, Japan's Nikkei stock average rose 1.18 percent. In afternoon trading, Britain's FTSE 100 rose 0.07 percent, Germany's DAX index rose 0.33 percent, and France's CAC-40 advanced 1.13 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The stock market notched its second straight daily advance Thursday, with investors assuaged by a pullback in oil prices and some better-than-expected economic data.

The DOW is almost 13000

The NYSE DOW closed HIGHER by +94.28 points +0.73%  on Thursday May 15

Sym Last........ ........Change..........
Dow 12,992.66 +94.28 +0.73% 
Nasdaq 2,533.73 +37.03 +1.48% 
S&P 500 1,423.57 +14.91 +1.06% 
10 Yr Bond(%) 3.8430% -0.0950 

*Overseas*
Japan's Nikkei stock average rose 0.94 percent. Britain's FTSE 100 rose 0.58 percent, Germany's DAX index fell 0.03 percent, and France's CAC-40 rose 0.04 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 6,251.80 +35.80 +0.58% 
DAX 7,081.05 -2.19 -0.03% 
CAC 40 5,057.51 +2.27 +0.04% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 14,251.74 +133.19 +0.94% 
Hang Seng 25,513.71 -19.77 -0.08% 
Straits Times 3,210.50 +11.99 +0.37% 

http://biz.yahoo.com/ap/080515/wall_street.html
*Stocks rise on oil price drop, mixed economic data*
Thursday May 15, 5:33 pm ET 
By Madlen Read, AP Business Writer  
*Stocks advance after retreat in oil prices, mixed economic data, corporate deals *

NEW YORK (AP) -- The stock market notched its second straight daily advance Thursday, with investors assuaged by a pullback in oil prices and some better-than-expected economic data.

Wall Street has been worried about cash-strapped consumers paring back their spending, so it was pleased that the energy markets gave up early gains that briefly drove crude oil above $125 a barrel.

In other positive signs, the Philadelphia Federal Reserve said regional manufacturing activity is contracting in May at a much slower pace than in April, while major companies including General Electric Co. and CBS Corp. were making deals.

"The encouraging news is that the markets have become more functional, and large companies are able to make strategic purchases and sales, which previously was a very difficult thing to do," said Alan Gayle, senior investment strategist for RidgeWorth Capital Management. Still, he added, "the market is still trying to digest the severity of the slowdown."

Fears of an ongoing credit market paralysis have eased significantly. Federal Reserve Chairman Ben Bernanke said in a speech in Chicago he is "encouraged" by recent efforts by banks to raise cash -- a trend that is helping to relieve the credit crisis.

But, Gayle said, "what we're left with now are cyclical credit strains. And those are likely to linger for a while."

The Dow Jones industrial average rose 94.28, or 0.73 percent, to 12,992.66.

Broader stock indicators advanced more than 1 percent to their highest closing levels since Jan. 3. The Standard & Poor's 500 index rose 14.91, or 1.06 percent, to 1,423.57, and the Nasdaq composite index rose 37.03, or 1.48 percent, to 2,533.73.

The technology-laden Nasdaq got a boost from Intel Corp., which rose $1.13, or 4.7 percent, to $24.97 after a Lehman Brothers analyst lifted his price target on the chip maker, citing strong product demand.

Bond prices rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.82 percent from 3.92 percent late Wednesday.

The dollar was lower against most other major currencies, and gold prices climbed.

In other economic data, the Fed said nationwide industrial output sank for the second straight month in April by 0.7 percent, due to big cutbacks in the automotive and other manufacturing industries. The drop was more than double analysts' average prediction.

The Labor Department said the number of laid off-workers applying for jobless benefits rose last week by 6,000 to 371,000 -- near the average analyst forecast, and suggesting that the labor market remains weak but in check.

In deal-making news, CBS agreed to buy online technology news and entertainment company CNet Networks Inc. for about $1.75 billion. The owner of the CBS television network and TV stations said the deal will boost its online presence and allow it to tap the growing market for online advertising.

CBS fell 59 cents, or 2.4 percent, to $24.23, while CNet rose $3.47, or 44 percent, to $11.42.

General Electric plans to auction off its Louisville, Ky.-based appliances business, according to The Wall Street Journal. GE has hired Goldman Sachs Group Inc. to run an auction for the appliance division, according to the newspaper, which quoted unidentified sources. The sale is seen yielding between $5 billion and $8 billion. GE slid 14 cents to $32.37.

Meanwhile, IAC/InterActiveCorp's Ask.com has bought a stable of Internet reference sites that includes Dictionary.com in its latest effort to distinguish itself from online search leader Google Inc. and other much larger rivals. IAC/InterActiveCorp fell 2 cents to $23.71.

But as companies find the corporate climate more operational, a separate concern remains: whether higher food and energy prices are hampering Americans' ability to spend. Jim Herrick, manager of equity trading at Baird & Co., said oil's retreat Thursday helped boost the stock market, but that the cost of energy remains a concern.

"At the end of the day, it's still affecting consumers and the way consumers spend," Herrick said. "It's definitely at the forefront of investors' minds."

J.C. Penney's quarterly profit came in a bit better than expected, helping its shares rise $2.07, or 4.7 percent, to $46.32, but it said a decline in consumer spending cut its first-quarter profit in half, and predicted "difficult" conditions for the entire year.

The Russell 2000 index of smaller companies rose 7.31, or 0.99 percent, to 743.38.

Advancing issues led decliners by more than 2 to 1 on the New York Stock Exchange. Consolidated volume amounted to 3.73 billion shares, down from 3.86 billion shares traded Wednesday.

Overseas, Japan's Nikkei stock average rose 0.94 percent. Britain's FTSE 100 rose 0.58 percent, Germany's DAX index fell 0.03 percent, and France's CAC-40 rose 0.04 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors, hoping for an economic rebound in the second half of the year, has been searching for any signs that the housing market is bottoming. The Commerce Department's report that home construction jumped 8.2 percent in April came as welcome news.

For the week, the Dow rose 1.89 percent and the Nasdaq added 3.41 percent.

Broader stock indicators ended mixed. The S&P 500 index ticked up 1.78, or 0.13 percent, to 1,425.35, and the Nasdaq composite index fell 4.88, or 0.19 percent, to 2,528.85. The S&P 500 and Nasdaq remain at five-month highs.

The NYSE DOW closed LOWER by -5.86	points -0.05% on Friday May 16

Sym Last........ ........Change..........
Dow	12,986.80	-5.86	-0.05%
Nasdaq	2,528.85	-4.88	-0.19%
S&P 500	1,425.35	+1.78	+0.13%
30-yr Bond	4.5790%	+0.0030

NYSE Volume	3,842,577,500
Nasdaq Volume	2,293,403,000

*Overseas*
 Britain's FTSE 100 finished up 0.84 percent, Germany's DAX index rose 1.07 percent, and France's CAC-40 rose 0.41 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,304.30	+52.50	+0.84%
DAX	7,156.55	+75.50	+1.07%
CAC 40	5,078.04	+20.53	+0.41%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	14,219.48	-32.26	-0.23%
Hang Seng	25,618.86	+105.15	+0.41%

http://biz.yahoo.com/ap/080516/wall_street.html
*Stocks pare losses to finish mixed after oil spikes*
Friday May 16, 4:50 pm ET
By Tim Paradis, AP Business Writer
*Stocks end mixed as investors digest spike in oil prices, surprise gain in home construction*

NEW YORK (AP) -- Wall Street pulled off its lows to finished narrowly mixed Friday as investors squared concerns about rising oil prices with a surprise jump in home construction. The major indexes ended the week with big gains.

Investors, hoping for an economic rebound in the second half of the year, has been searching for any signs that the housing market is bottoming. The Commerce Department's report that home construction jumped 8.2 percent in April came as welcome news.

But investors still appeared concerned for much of the session about energy prices and their effect on consumer spending, which accounts for more than two-thirds of U.S. economic activity. The price of a barrel of oil spiked to $127.82 for a new trading record on Friday.

The rise in energy and food costs is weighing on the mood of consumers. The Reuters/University of Michigan consumer sentiment reading for May fell to 59.5 in May -- the weakest reading since June 1980.

Despite the uneasiness over energy prices, stocks posted strong gains for the week. The broader market, as measured by the Standard & Poor's 500 index, rose 2.7 percent for the week.

The gains in oil for a time upended some of the week's optimism that led investors to move into cyclical stocks that typically benefit when an economy begins to emerge from a slowdown, said Steve Neimeth, portfolio manager for AIG SunAmerica Mutual Funds.

"Although the housing numbers today were generally positive, the Michigan survey was quite poor and, more importantly, a continued spike in energy and commodities is causing investors to second-guess the second-half recovery," he said. "If oil and gas prices continue to go up consumers are unlikely to have the spending ability in the second half."

According to preliminary calculations, the Dow Jones industrial average slipped 5.86, or 0.05 percent, to 12,986.80.

Broader stock indicators ended mixed. The S&P 500 index ticked up 1.78, or 0.13 percent, to 1,425.35, and the Nasdaq composite index fell 4.88, or 0.19 percent, to 2,528.85. The S&P 500 and Nasdaq remain at five-month highs.

Advancing issues outnumbered decliners by about 8 to 7 on the New York Stock Exchange, where volume came to 1.31 billion shares compared with 1.20 billion shares Thursday.

For the week, the Dow rose 1.89 percent and the Nasdaq added 3.41 percent.

Government bond prices rose Friday as stocks declined. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.78 percent from 3.82 percent late Thursday.

Gold prices rose, while the dollar fell against other major currencies.

Investors have been tracking energy prices closely, with the average U.S. retail price of gasoline around $3.77 per gallon and the average price of diesel fuel near $4.46 a gallon. Consumers and businesses alike are struggling with high commodities costs, despite mild overall readings on inflation, so Wall Street remains concerned about spending on discretionary items.

Light, sweet crude rose $2.17 to settle at a record close of $126.29 per barrel ahead of the start of the summer driving season and following supply disruptions in China. Oil held to gains even after Saudi Arabia's Oil Minister said the country boosted production by 300,000 barrels a day last week in response to requests from customers. And the Energy Department said it would stop adding to the nation's Strategic Petroleum Reserve for six months starting July 1.

David Kelly, chief market strategist at JPMorgan Funds, said investors will continue to worry about oil prices but that there is a sense that if the economy is in a recession it likely will prove to be a mild one. He said stocks have been able to advance from their mid-March lows because fears of worsening troubles in the credit market have receded somewhat.

"I think oil is still the worrying wild card in all of this but the central theme of this year is that we are gradually moving from the credit storm to the economic storm. At this stage the economic storm is essentially getting downgraded from a hurricane to a nor'easter," he said.

Kelly said the government's economic stimulus checks that have begun arriving in mailboxes this month should help consumers absorb increased energy prices and that the rebates are leaving consumers with extra money, even with higher gas prices.

The Russell 2000 index of smaller companies fell 2.21, or 0.30 percent, to 741.17.

Overseas, Japan's Nikkei stock average rose 0.39 percent. Britain's FTSE 100 finished up 0.84 percent, Germany's DAX index rose 1.07 percent, and France's CAC-40 rose 0.41 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street ended mixed Monday after weakness in the technology sector punctured some of the market's enthusiasm over a report that suggested the economy could still be growing.

But comments from memory chip maker SanDisk Corp. about soft sales helped pull stocks off their highs and sent tech shares lower. The Dow Jones industrial average, which had been up more than 100 points, finished well off its highs.

The NYSE DOW closed HIGHER by -5.86 points -0.05% on Monday May 19

Sym Last........ ........Change..........
Dow 13,028.16 +41.36 +0.32% 
Nasdaq 2,516.09 -12.76 -0.50% 
S&P 500 1,426.63 +1.28 +0.09% 
10 Yr Bond(%) 3.84%  -0.01 (0.29%) 

*Overseas*
Tokyo's Nikkei closed up 0.35 percent. In Europe, London's FTSE closed up 1.15 percent, Frankfurt's DAX rose 0.97 percent and Paris' CAC 40 was up 1.26 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 6,376.50 +124.70 +1.99% 
DAX 7,225.94 +69.39 +0.97% 
CAC 40 5,142.10 +64.06 +1.26% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 14,269.61 +50.13 +0.35% 
Hang Seng 25,742.23 +123.37 +0.48% 

http://biz.yahoo.com/ap/080519/wall_street.html
*Stocks finish mixed following tech pullback*
Monday May 19, 5:40 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks finish mixed after new reading suggests economy might be poised to show recovery *

NEW YORK (AP) -- Wall Street ended mixed Monday after weakness in the technology sector punctured some of the market's enthusiasm over a report that suggested the economy could still be growing.

But comments from memory chip maker SanDisk Corp. about soft sales helped pull stocks off their highs and sent tech shares lower. The Dow Jones industrial average, which had been up more than 100 points, finished well off its highs.

The Conference Board's leading economic indicators report showed a 0.1 percent rise for April, following a similar uptick in March. The index, aimed at predicting economic activity in the next three to six months, bolstered investors' belief that the overall U.S. economy, while weak, is positioned for recovery.

After five months of declines in the leading indicators, some investors were concerned that March's increase was an anomaly -- so April's advance was met with relief, said Hugh Johnson, chief investment officer of Johnson Illington Advisors.

But technology shares tugged at the market after SanDisk issued cautious comments at a JPMorgan technology conference Monday, said Neil Massa, senior trader at MFC Global Investment Management in Boston. SanDisk fell $2.42, or 7.5 percent, to $30.02. SanDisk's remarks came on a day of light trading and dented but didn't sink an upbeat mood on Wall Street.

"Even though you're up only 0.1 percent, it's very good news that the declining trend may have been reversed," Johnson said, referring to the leading indicators report. "That is important for this reason: It's consistent with the message of the markets." The broader market, as measured by the Standard & Poor's 500 index, rose 2.67 percent last week on cautious optimism about the economy.

The Dow rose 41.36, or 0.32 percent, to 13,028.16. The blue chips had been up nearly 150 points at their highs of the session.

Broader stock indicators finished mixed. The S&P 500 advanced 1.28, or 0.09 percent, to 1,426.63, and the technology-heavy Nasdaq composite index fell 12.76, or 0.50 percent, to 2,516.09.

Government bonds rose as the rally in stocks cooled. The yield on the benchmark 10-year Treasury note, which moves opposite its yield, fell to 3.83 percent from 3.85 percent late Friday.

The dollar rose against most other major currencies, while gold prices also climbed.

One pressure point for the economy -- rising energy prices -- appeared relatively in check Monday. While many investors remain mindful of the rising price of oil and its effect on consumer spending, Wall Street seemed somewhat unfazed as oil advanced but didn't top its record trading high set Friday. Light, sweet crude rose 76 cents to settle at a record $127.05 per barrel on the New York Mercantile Exchange. The price of a gallon of regular gasoline topped $4 for the first time in two U.S. metropolitan areas. Still, energy didn't seem as large of a concern as in some recent sessions.

Financial shares also pulled back after the market came off its highs. Merrill Lynch & Co. fell $1.14, or 2.3 percent, to $47.71, while Lehman Brothers Holdings Inc. fell 85 cents to $42.79.

In other corporate news, Microsoft Corp. has renewed talks with Yahoo Inc. about a possible deal to bolster the companies' position in the online search and advertising markets. The companies appear to be exploring possible arrangements outside of a direct tie-up. Microsoft fell 53 cents to $29.46, and Yahoo rose 2 cents to $27.68.

General Motors Corp. rose after one of its biggest suppliers reached a tentative labor deal with the United Auto Workers. The agreement with American Axle & Manufacturing Holdings Inc. may end a nearly three-month strike by 3,650 U.S. hourly workers. GM advanced 19 cents to $20.87.

Lowe's Cos. posted a first-quarter profit decline and issued an outlook for the year that came in below analyst estimates. The second-largest home improvement chain fell 64 cents, or 2.6 percent, to $24.25.

The Russell 2000 index of smaller companies fell 2.72, or 0.37 percent, to 738.45.

Declining issues narrowly outpaced advancers on the New York Stock Exchange, where consolidated volume came to 3.55 billion shares, compared with 3.74 billion traded Friday.

In overseas trading, Tokyo's Nikkei closed up 0.35 percent. In Europe, London's FTSE closed up 1.15 percent, Frankfurt's DAX rose 0.97 percent and Paris' CAC 40 was up 1.26 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*RED DAY ALL ROUND YESTERDAY!!*

Wall Street stumbled Tuesday after oil prices spiked to a new record above $129 a barrel and a government report raised investors' concerns about the impact of inflation on consumer spending. The Dow Jones industrials fell nearly 200 points.

The NYSE DOW closed LOWER by -199.48 points -1.53% on Tuesday May 20

Sym Last........ ........Change..........
Dow 12,828.68 -199.48 -1.53% 
Nasdaq 2,492.26 -23.83 -0.95% 
S&P 500 1,413.40 -13.23 -0.93% 
10 Yr Bond(%) 3.7760% -0.0630 


*Overseas*
Japan's central bank kept interest rates steady amid lingering worries about a global slowdown. Tokyo's Nikkei closed down 0.77 percent.

In Europe, London's FTSE dropped 2.90 percent, Frankfurt's DAX fell 1.49 percent and Paris' CAC 40 shed 1.70 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 6,191.60 -184.90 -2.90% 
DAX 7,118.50 -107.44 -1.49% 
CAC 40 5,054.88 -87.22 -1.70% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 14,160.09 -109.52 -0.77% 
Hang Seng 25,169.46 -572.77 -2.23% 
Straits Times 3,199.88 -7.55 -0.24% 

http://biz.yahoo.com/ap/080520/wall_street.html
*Stocks stumble on record oil, inflation worries*
Tuesday May 20, 5:47 pm ET 
By Joe Bel Bruno, AP Business Writer  
*Investors retreat as oil passes $129 a barrel, more worries about rising inflation *


NEW YORK (AP) -- Wall Street stumbled Tuesday after oil prices spiked to a new record above $129 a barrel and a government report raised investors' concerns about the impact of inflation on consumer spending. The Dow Jones industrials fell nearly 200 points.

Crude jumped after OPEC's president was quoted as saying his organization won't raise its output before its next meeting in September. That sent a barrel of light, sweet crude to a trading high of $129.60 before it finished just above $129 a barrel on the New York Mercantile Exchange.

Meanwhile, the Labor Department's producer price report indicated higher energy and food prices might be seeping into other parts of the economy -- compounding investors' concerns raised by higher oil. The department said wholesale inflation edged up by 0.2 percent in April following a 1.1 percent jump in March, but outside of food and energy, prices rose by a faster 0.4 percent -- double what analysts expected.

Wall Street is worried that a drop-off in consumer spending could ensue if wholesale price increases are passed along; consumer spending is critical because it accounts for more than two-thirds of the U.S. economy.

Analyst Stephen Leeb believes escalating oil prices and their fallout have now replaced the health of the financial sector as the market's biggest worry. He said rising energy creates a "very vicious circle" through the economy, and thinks the government must take some kind of action to bring down prices.

"Stock investors are watching oil, period," said Leeb, whose New York-based Leeb Capital Management focuses on crude and its impact on equities. "The events that moved the market before revolved around write-offs and foreclosures, but all that's changed."

The retreat in major indexes reversed the optimism of last week, when stocks rose on a growing belief that the economy is still managing to plod along despite worries about both oil prices and the global credit crisis. The loss showed that the market has yet to shake off the volatility that has plagued it since the credit crisis began last summer.

The mood on the Street was further depressed Tuesday by sluggish retail reports and comments from Federal Reserve Vice Chairman Donald Kohn that policymakers are inclined to hold interest rates steady.

The Dow fell 199.48, or 1.53 percent, to 12,828.68, logging its biggest daily slide since a 206-point drop on May 7.

Broader market indexes also retreated. The Standard & Poor's 500 index shed 13.23, or 0.93 percent, to 1,413.40, and the Nasdaq composite index dropped 23.83, or 0.95 percent, to 2,492.26.

Bond prices rose as investors sought the relative safety of government securities. The yield on the benchmark 10-year Treasury note, which moves opposite its yield, fell to 3.78 percent from 3.83 percent late Monday.

Gold gained, and the dollar fell against other major currencies.

Concerns about rising inflation, spurred by higher prices for commodities, were the topic of a speech by Kohn. The policymaker said he was cautiously upbeat that the economy will recover, and that the central bank "appears to be appropriately calibrated" to manage inflation over the medium term.

Meanwhile, the Federal Reserve Bank of Chicago reported that U.S. economic activity weakened further in April and reached its lowest level since the 2001 recession.

But some analysts believe the market's slide gave investors an opportunity to collect profits. Peter Cardillo, chief market economist at New York-based brokerage Avalon Partners, said Tuesday's decline doesn't change the market's long-term prospects.

"The oil price rise is being done by speculators and does not reflect market fundamentals," he said. "But, it still has an effect on the consumer -- and investor confidence is equal to consumer confidence, which has been having swings as of late."

Cardillo is watching to see any kind of indicator about how much Americans are spending to get a better idea of how Wall Street views the economy. "It's a battle between prices and the consumer," he said, "and the consumer usually does win."

Investors did get some data on consumer spending during the session. The International Council of Shopping Centers and UBS Securities showed chain-store sales fell 0.4 percent during the week of May 17, down from 1 percent the previous week.

Investors also mined earnings reports from Home Depot Inc., Target Corp., and Staples Inc. for clues about consumers.

Home Depot fell $1.50, or 5.2 percent, to $27.37 after it reported first-quarter profit fell 66 percent amid a continued housing slump.

Target reported that profit dropped almost 8 percent on higher costs, but it beat expectations. Shares fell 63 cents to $54.29.

Staples said profit rose 1.5 percent during the quarter, and reaffirmed its outlook. Shares rose 4 cents to $23.61.

Banking stocks fell after Oppenheimer & Co. analyst Meredith Whitney said she expects the credit crisis to extend into 2009, and "perhaps beyond." She said firms like JPMorgan Chase & Co. and Citigroup Inc. have set aside $25 billion to cover losses, but might have to set aside about $170 billion by the end of next year.

Citi fell 88 cents, or 3.8 percent, to $22.11, and JPMorgan dropped $2.29, or 5 percent, to $43.70.

Declining issues led advancers by nearly 2 to 1 on the New York Stock Exchange. Consolidated volume came to 3.74 billion shares, up from 3.55 billion on Monday.

The Russell 2000 index of smaller companies fell 2.81, or 0.38 percent, to 735.64.

Overseas, Japan's central bank kept interest rates steady amid lingering worries about a global slowdown. Tokyo's Nikkei closed down 0.77 percent.

In Europe, London's FTSE dropped 2.90 percent, Frankfurt's DAX fell 1.49 percent and Paris' CAC 40 shed 1.70 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street pitched lower for the second straight session Wednesday as record-high oil prices and a bleak economic assessment from the Federal Reserve deepened investors' worry about rising costs and a shaky employment picture. The Dow Jones industrial average fell 227 points, logging its widest two-day loss since late February.


The NYSE DOW closed LOWER by -227.49 points -1.77% on Wednesday May 21

Sym Last........ ........Change..........
Dow 12,601.19 -227.49 -1.77% 
Nasdaq 2,448.27 -43.99 -1.77% 
S&P 500 1,390.71 -22.69 -1.61% 
10 Yr Bond(%) 3.8220% +0.0460 

*Overseas*
Tokyo's Nikkei closed down 1.65 percent. In Europe, London's FTSE rose 0.10 percent, Frankfurt's DAX declined 1.09 percent and Paris' CAC 40 fell 0.54 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 6,198.10 +6.50 +0.10% 
DAX 7,040.83 -77.67 -1.09% 
CAC 40 5,027.55 -27.33 -0.54% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,926.30 -233.79 -1.65% 
Hang Seng 25,460.29 +290.83 +1.16% 
Straits Times 3,196.90 -2.98 -0.09% 

http://biz.yahoo.com/ap/080521/wall_street.html
*Stocks tumble on $134 oil, Fed meeting minutes*
Wednesday May 21, 5:47 pm ET 
By Madlen Read, AP Business Writer  
*Stocks sink as supply worries push oil above $134; Fed minutes bring gloomy outlook *


NEW YORK (AP) -- Wall Street pitched lower for the second straight session Wednesday as record-high oil prices and a bleak economic assessment from the Federal Reserve deepened investors' worry about rising costs and a shaky employment picture. The Dow Jones industrial average fell 227 points, logging its widest two-day loss since late February.

Early in the day, stocks began falling on the surging price of oil, which shot up more than $4 and breached $134 a barrel for the first time on the futures market Wednesday.

The stock market slumped further after minutes from last month's Fed meeting revealed that while policymakers expected sharply lower economic growth and higher unemployment later this year, inflationary risks are likely to keep the central bank from cutting rates again. Lower interest rates spur economic growth, but they also tend to accelerate inflation.

High commodities prices have been a big source of anxiety for investors, as many retailers and credit card companies have noticed consumers paring back spending on discretionary items, including clothing and jewelry, to be able to afford necessities such as gasoline and groceries.

Meanwhile, the Fed's minutes suggest the central bank's two main priorities -- making sure the economy is growing, and keeping inflation in check -- are both going to be tough to achieve through monetary policy. That is a troubling prospect for investors hoping that the economy will bounce back in the second half of the year and that the central bank will be able to concentrate on controlling inflation.

"It absolutely underscores the two competing mandates for the Federal Reserve: growth, and price stability. It captures the tug-of-war between the two mandates, crystallizes how different those two mandates are," said Quincy Krosby, chief investment strategist for The Hartford. "If employment deteriorates dramatically, the Fed has a choice -- do they worry about inflationary pressure, or do they want to continue to support their growth mandate?"

The Dow fell 227.49, or 1.77 percent, to 12,601.19, after falling nearly 200 points on Tuesday. The blue chip index's two-day drop of about 427 points, or 3.3 percent, is its biggest since Feb. 28-29.

Broader stock indicators also stumbled. The Standard & Poor's 500 index fell 22.69, or 1.61 percent, to 1,390.71, while the Nasdaq composite index fell 43.99, or 1.77 percent, to 2,456.09.

Government bond prices rose as investors searched for safer assets. The yield on the 10-year Treasury note, which moves opposite its price, rose to 3.81 percent from 3.78 percent late Tuesday.

Crude oil soared $4.19 to settle at $133.17 a barrel on the New York Mercantile Exchange -- about $20 higher than it was at the beginning of May. It passed $134 a barrel in after-hours trading.

"There's almost a parabolic rise going on," said Richard E. Cripps, chief market strategist for Stifel Nicolaus. "I do sense that the stock market is searching for where that oil peak is going to be ... but till it finally gets there and backs off, I think the stock market is under pressure."

Strong demand out of China, supply disruptions in Nigeria, the dollar's slump versus other world currencies, and political tension in the Middle East have been keeping oil on the incline.

"The factors affecting commodities, the strongest catalysts, are outside the United States," the Hartford's Krosby noted. "The Fed's ability to dampen inflationary expectations have become not completely limited, but more limited than if we were having this discussion 10 years ago."

The airline industry has been particularly slammed by the rising cost of oil. Citing high fuel prices, American Airlines said Wednesday it will start charging $15 for the first checked bag, reduce domestic flights and cut perhaps thousands of jobs. AMR Corp. shares fell $1.98, or 24 percent, to $6.22.

And although jitters over the housing-driven credit crisis have calmed since March, they are far from over. Financial stocks took a hit Wednesday after Moody's Investors Service said it is "conducting a thorough review" regarding the possibility that computer errors incorrectly gave high quality ratings to certain debt securities that later sank in value.

"That would create some real carnage in an industry that doesn't need it," said Jim Herrick, manager of equity trading at Baird & Co., referring to the banks and other financial services companies that have lost billions of dollars due to bad bets on mortgages and other debt.

Among the financial services companies in the Dow, Bank of America Corp. fell 76 cents, or 2.2 percent, to $34.63; JPMorgan Chase & Co. fell $1.28, or 2.9 percent, to $42.42; Citigroup Inc. fell $1.05, or 4.8 percent, to $21.06; and American Express Co. fell $1.83, or 3.9 percent, to $45.48.

The credit crisis' effect on the financial sector has caused it to lose its status as the largest in the S&P 500 index. Financials have been overtaken by the information technology sector, which S&P analysts said has not happened since 2002.

The dollar fell against most other major currencies, while gold prices advanced.

The Russell 2000 index of smaller companies fell 8.53, or 1.16 percent, to 727.11.

Declining issues outnumbered advancers by about 7 to 3 on the New York Stock Exchange, where consolidated volume amounted to 4.41 billion shares, up from 3.74 billion on Tuesday.

In overseas trade, Tokyo's Nikkei closed down 1.65 percent. In Europe, London's FTSE rose 0.10 percent, Frankfurt's DAX declined 1.09 percent and Paris' CAC 40 fell 0.54 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street steadied itself Thursday after two sessions of steep declines, rebounding moderately as oil prices stepped back from their frenetic upward run.

Oil set another trading record overnight -- moving above $135 per barrel for the first time -- then pulled back below $131, offering some relief for stock investors. Meanwhile, the Labor Department said the number of workers seeking unemployment benefits declined by 9,000 last week to 365,000. The market expected a slight increase.

The NYSE DOW closed HIGHER by +24.43 points	+0.19% on Thursday May 22

Sym Last........ ........Change..........
Dow	12,625.62	+24.43	+0.19%
Nasdaq	2,464.58	+16.31	+0.67%
S&P 500	1,394.35	+3.64	+0.26%
30-yr Bond	4.6290%	+0.0710

NYSE Volume	3,955,965,000
Nasdaq Volume	1,939,862,620

*Overseas*
Japan's Nikkei stock average rose 0.37 percent. Britain's FTSE 100 fell 0.27 percent, Germany's DAX index rose 0.42 percent, and France's CAC-40 advanced 0.02 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,181.60	-16.50	-0.27%
DAX	7,070.33	+29.50	+0.42%
CAC 40	5,028.74	+1.19	+0.02%


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,978.46	+52.16	+0.37%
Hang Seng	25,043.12	-417.17	-1.64%
Straits Times	3,160.86	-36.04	-1.13%

http://biz.yahoo.com/ap/080522/wall_street.html
*Stocks advance after two-day plunge; oil declines*
Thursday May 22, 5:39 pm ET
By Tim Paradis, AP Business Writer
*Stocks advance after big sell-off; oil pulls back, unemployment claims drop unexpectedly*

NEW YORK (AP) -- Wall Street steadied itself Thursday after two sessions of steep declines, rebounding moderately as oil prices stepped back from their frenetic upward run.

Oil set another trading record overnight -- moving above $135 per barrel for the first time -- then pulled back below $131, offering some relief for stock investors. Meanwhile, the Labor Department said the number of workers seeking unemployment benefits declined by 9,000 last week to 365,000. The market expected a slight increase.

But the economic fallout from ascendent energy prices remained Wall Street's focus.

"People are concerned about the economy and what's happening with oil," said Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York, referring to the advance in stocks.

Fullman predicted the markets will remain jittery, and said the low trading volumes Thursday indicate the gains are coming without much conviction.

The modest rise in stocks followed a decline in the Dow Jones industrial average that totaled about 427 points, or 3.3 percent, over the course of Tuesday and Wednesday. It was the steepest two-day loss since late February. Stocks have declined in three of the past four sessions.

The Dow rose 24.43, or 0.19 percent, to 12,625.62.

Broader stock indicators also moved higher. The Standard & Poor's 500 index rose 3.64, or 0.26 percent, to 1,394.35, and the Nasdaq composite index rose 16.31, or 0.67 percent, to 2,464.58.

Even with the declines of more than 2 percent in the major indexes this week, stocks are still well off their mid-March lows. The Dow is 7.5 percent above its close of 11,740.15 on March 10, when investors were preoccupied with worries over the soundness of the credit markets. Since then, Wall Street has reshuffled its list of concerns, placing greater emphasis on the well-being of the overall economy, not just the troubled financial sector.

Bond prices fell sharply Thursday. The yield on the benchmark 10-year Treasury note rose to 3.92 percent from 3.81 percent late Wednesday.

Light, sweet crude fell $2.36 to settle at $130.81 a barrel on the New York Mercantile Exchange, pulling back from an earlier record of just above $135. That retreat helped the stock market find some stability after two days of drops.

"Hopefully it will last. But I think oil's been scaring people," said Todd Leone, managing director of equity trading at Cowen & Co. He pointed out that the airline industry is getting particularly hard hit, which "slows down the whole economy a bit."

The spike in oil prices has also fanned investors' uneasiness about consumer-level inflation. The big fear is that Americans worried about rising prices for everything from gasoline to food will be less willing to reach into their wallet for other items. A pullback could deal a major blow to the economy as consumer spending accounts for more than two-thirds of U.S. economic activity.

The dollar was mixed against other major currencies, while gold prices fell.

In corporate news, Ford Motor Co. warned that it no longer expects to return to profitability by next year and that it is trimming North American production of pickups and SUVs for the rest of this year because of high gas prices and a shaky economy. The automaker also lowered its forecasts for U.S. sales for 2008. Ford fell 64 cents, or 8.2 percent, to $7.16.

Power wholesaler NRG Energy Inc. said it offered to acquire rival Calpine Corp. for about $11.3 billion in stock. Calpine, which has dual headquarters in San Jose, Calif., and Houston, released details of the unsolicited bid Wednesday. NRG fell $2.24, or 5.3 percent, to $40.27, while Calpine jumped $1.71, or 8 percent, to $22.99.

Advancing issues outnumbered decliners by about 9 to 7 on the New York Stock Exchange. Consolidated volume amounted to 3.85 billion shares, down from 4.41 billion shares on Wednesday.

The Russell 2000 index of smaller companies rose 5.90, or 0.81 percent, to 733.01.

The dollar was mixed, while gold fell. Overseas, Japan's Nikkei stock average rose 0.37 percent. Britain's FTSE 100 fell 0.27 percent, Germany's DAX index rose 0.42 percent, and France's CAC-40 advanced 0.02 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average ended the week down 507.17, or 3.91 percent, at 12,479.63. The Standard & Poor's 500 index finished down 49.42, or 3.47 percent, at 1,375.93. The Nasdaq composite index ended the week down 84.18, or 3.33 percent, at 2,444.67.

The Russell 2000 index finished the week down 17.07, or 2.3 percent, at 724.10.

The NYSE DOW closed LOWER by -145.99 points -1.16% on Friday May 23

Sym Last........ ........Change..........
Dow	12,479.63	-145.99	-1.16%
Nasdaq	2,444.67	-19.91	-0.81%
S&P 500	1,375.93	-18.42	-1.32%
30-yr Bond	4.5570%	-0.0720

NYSE Volume	3,516,584,750
Nasdaq Volume	1,736,369,880

*Overseas*
Tokyo's Nikkei closed rose 0.24 percent. In Europe, London's FTSE ended down 1.53 percent, Frankfurt's DAX fell 1.79 percent and Paris' CAC 40 shed 1.89 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,087.30	-94.30	-1.53%
DAX	6,944.05	-126.28	-1.79%
CAC 40	4,933.77	-94.97	-1.89%


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	14,012.20	+33.74	+0.24%
Hang Seng	24,714.07	-329.05	-1.31%
Straits Times	3,122.15	-38.71	-1.22%

http://biz.yahoo.com/ap/080523/wall_street.html
*Stocks fall as oil prices stir economic worries*
Friday May 23, 5:49 pm ET
By Tim Paradis, AP Business Writer
*Stocks slide as rising oil prices kick of holiday weekend, raise concerns about consumers*

NEW YORK (AP) -- Wall Street ended a week of big losses with more selling Friday as rising oil prices again raised worries that strained consumers will cut back spending and hurt the overall economy. The Dow Jones industrials fell nearly 150 points in the final session before the three-day holiday weekend.

Investors are uneasy about consumers, who at the start of Memorial Day weekend are paying gasoline prices that have gone up nearly 20 percent, or 65 cents a gallon, in the past year.

Wall Street's fear is that consumers, who account for more than two-thirds of U.S. economic activity, will pare spending to make room in their budgets for gas that has topped $4 a gallon in some parts of the country.

Light, sweet crude rose $1.38 to settle at $132.19 per barrel on the New York Mercantile Exchange. Oil saw its third weekly gain after surging to a record $135.09 a barrel on Thursday. Some investors are buying on the belief that global demand from countries like China and India will outstrip supply. A weak dollar also makes each barrel more expensive.

"Crude oil is still weighing on the market and particularly because this is a traditional driving holiday," said Chris Orndorff, director of equity strategy at Payden & Rygel in Los Angeles.

The concerns sent Dow down 145.99, or 1.16 percent, to 12,479.63.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 18.42, or 1.32 percent, to 1,375.93, and the Nasdaq composite index slid 19.91, or 0.81 percent, to 2,444.67.

For the week, the Dow lost 3.91 percent, suffering its worst week since February, while the S&P 500 gave up 3.47 percent and the Nasdaq fell 3.33 percent.

The economic fallout from higher energy prices commanded Wall Street's focus during the week. Stocks managed to post gains Thursday following the Dow's biggest two-day loss since late February. Despite the declines in the major indexes for the week, stocks are off their mid-March lows. The Dow is still up 6.3 percent from its close of 11,740.15 on March 10, when credit concerns weighed on the market.

"I think while the eye of the credit storm may have passed, the tidewater is still rising on the consumer and investors can't lose sight of that," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. He noted that higher gas prices had led some vacationers to reduce how far they plan to travel for the holiday.

"It is taking a toll on the consumer and it remains to be seen how that will impact corporate earnings."

Beyond consumers, investors worried about the harm higher energy prices are having on businesses. The rise in oil hammered sectors such as airlines. Continental Airlines Inc. fell nearly 27 percent for the week, while United Airlines parent UAL Corp. dropped nearly 46 percent.

Bond prices rose Friday as investors sought the safety of government debt. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.85 percent from 3.92 percent late Thursday.

The dollar fell, while gold prices rose.

Orndorff said the spike in oil has rekindled concerns about stagflation -- when stalling growth accompanies rising prices.

"Given that inflation remains stubbornly high, then the Fed is going to be less accommodative going forward so we may end up a period of sluggish growth in stubbornly higher inflation," he said, referring to possible interest rate cuts from the Federal Reserve. Minutes released this week from the last meeting of the central bank's rate-setting arm doused some investors' hopes that policymakers will again cut rates to aid the economy when they meet at the end of June.

Orndorff predicts investors will need further evidence on how the economy is faring before they resume taking stocks back toward the highs seen last fall.

"I think the market for the most part is going to be in a somewhat narrow trading range until you get the earnings that come out in July. I think that's going to be an important quarter as people see how the effects of the global economy slowing are affecting the companies."

A Financial Times report that brewing company InBev is readying a $46 billion takeover bid for Budweiser maker Anheuser-Busch Cos. failed to shake Wall Street from its downcast mood. Often, buyout activity is fodder for a rally in stocks as it as seen as a bullish sign for the economy. But the buying appeared limited to the St. Louis brewer, whose shares hit an all-time high. Anheuser-Busch rose finished up $4.03, or 7.7 percent, to $56.61 after trading as high as $58.

American Axle and Manufacturing Holdings Inc. fell 81 cents, or 4.2 percent, to $18.44 after the company said that workers approved a contract including pay cuts and other concessions. The vote ends a strike that lasted nearly three months, hurting General Motors Corp.'s production of large sport utility vehicles and pickups. Although the contract's ratification will benefit GM, auto stocks saw pressure during the week because of soaring fuel prices. GM was the steepest decliner among the 30 stocks that comprise the Dow industrials, falling 83 cents, or 4.5 percent, to $17.60.

Declining issues outnumbered advancers by about 7 to 3 on the New York Stock Exchange, where consolidated volume came to 3.43 billion shares compared with 3.85 billion shares traded Thursday.

The Russell 2000 index of smaller companies fell 8.91, or 1.22 percent, to 724.10.

In overseas trade, Tokyo's Nikkei closed rose 0.24 percent. In Europe, London's FTSE ended down 1.53 percent, Frankfurt's DAX fell 1.79 percent and Paris' CAC 40 shed 1.89 percent.

The Dow Jones industrial average ended the week down 507.17, or 3.91 percent, at 12,479.63. The Standard & Poor's 500 index finished down 49.42, or 3.47 percent, at 1,375.93. The Nasdaq composite index ended the week down 84.18, or 3.33 percent, at 2,444.67.

The Russell 2000 index finished the week down 17.07, or 2.3 percent, at 724.10.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 13,954.47, down 469.28 points, or 3.25 percent, for the week. A year ago, the index was at 15,348.10.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

European stock markets edged higher Monday and key Asian markets fell amid worries about high oil prices and the U.S. economy on a day when the U.S. and British markets were closed for a holiday.

Key stock market indicators edged up in Germany and France but the main market gauges fell more than 2 percent in Japan and Hong Kong after the Chinese government announced an overhaul of its telecommunications sector.

*The NYSE DOW was closed on Monday May 26*

Sym Last........ ........Change..........
Dow	12,479.63	closed
Nasdaq	2,444.67	closed
S&P 500	1,375.93	closed
30-yr Bond	4.5570%	closed


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,087.30	closed
DAX	6,953.84	+9.79	+0.14%
CAC 40	4,937.84	+4.07	+0.08%


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,690.19	-322.01	-2.30%
Hang Seng	24,127.31	-586.76	-2.37%
Straits Times	3,103.30	-18.85	-0.60%

http://biz.yahoo.com/ap/080526/world_markets.html
*European, Asian markets mixed despite inflation concerns*
Monday May 26, 4:38 pm ET
*European markets edge up, Asian markets while US, British markets closed for holidays
*
FRANKFURT, Germany (AP) -- European stock markets edged higher Monday and key Asian markets fell amid worries about high oil prices and the U.S. economy on a day when the U.S. and British markets were closed for a holiday.

Key stock market indicators edged up in Germany and France but the main market gauges fell more than 2 percent in Japan and Hong Kong after the Chinese government announced an overhaul of its telecommunications sector.

Crude oil futures rose to a record above $135 a barrel last week and were trading above $133 a barrel in electronic trading on Monday after militants in Nigeria said they destroyed an oil pipeline and killed 11 soldiers. The government said none of its troops had died.

In Germany, the DAX rose 0.14 percent to close at 6,953.84 with Merck KGaA, the producer of drugs and crystals used in liquid crystal displays, rising more than 2 percent and Hype Real Estate AG up nearly 2 percent.

Automobile stocks like Daimler AG, BMW AG and Volkswagen AG posted declines after crude oil prices rose. The July contract for light sweet crude was up 94 cents to $133.13 a barrel in electronic trading by late afternoon in Europe.

Shares of Daimler lost 1.13 percent, Volkswagen fell 0.86 percent and BMW shares dipped 0.37 percent.

There was no floor session on the New York Mercantile Exchange due to the Memorial Day holiday. Both the New York and London stock exchanges were closed for a holiday.

In France, the CAC-40 rose 0.08 percent to close at 4,937.84, led by power companies Gaz de France and Suez, both of whom got court approval on Friday to pursue a combination. Shares of GDF were up more than 2 percent while Suez shares rose nearly 1.5 percent.

In Tokyo, the benchmark Nikkei 225 index dropped 2.3 percent to 13,690.19.

"What underlined selling was ongoing concern over inflation as oil prices still remained very high," said Kazuhiro Takahashi, general manager at Daiwa Securities SMBC Co. in Tokyo.

Hong Kong shares were dragged down by a plunge in China Mobile, the mainland's largest mobile service provider, on worries about increased competition after China announced that it was restructuring its telecommunications sector. The blue-chip Hang Seng Index fell 2.4 percent to 24,127.31.

Traders said turnover has been relatively low lately, indicating trade would remain sluggish in the near future, as oil prices are likely to climb further and the U.S. economy slows.

"Trading is sluggish, as there's no clear picture for both local and regional markets," said Linus Yip, a strategist at First Shanghai Securities.

China Mobile shares tumbled 8.2 percent. China's three other Hong Kong-listed telecom operators -- China Unicom, China Netcom and China Telecom -- are also involved in the restructuring, but remained suspended from trading Monday.

On the Chinese mainland, the Shanghai benchmark index fell to a one-month low on renewed worries over further monetary tightening. The benchmark Shanghai Composite Index fell 108.55 points, or 3.1 percent, to 3,364.54, the lowest since April 23.

Financial shares were among the worst hit, with Haitong Securities plunging by the daily 10 percent limit and Industrial & Commercial Bank of China sinking 3 percent.

The Australian share market fell for a third day to an almost three-week low on concerns higher crude oil prices, a stronger Australian dollar and inflation will crimp economic growth and company earnings. The benchmark S&P/ASX 200 index dropped 1.1 percent to 5,707.

Pakistan's benchmark stock index plunged to its lowest level in eight months amid investor anxiety over political and economic uncertainty. The 100-share benchmark index at the Karachi Stock Exchange tumbled 3.3 percent to 13,011.74, the lowest since Sept. 11, 2007.

In currencies, the dollar was quoted at 103.44 yen in late trading in Frankfurt, down from 104.17 yen late Friday in New York. The euro stood at $1.5772, compared with $1.5775 late Friday in New York.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street advanced in uneven trading Tuesday after a drop in oil prices and an unexpected gain in new home sales encouraged investors to put money back into the market.

*The NYSE DOW closed HIGHER by +68.72 points +0.55% on Tuesday May 27*

Sym Last........ ........Change..........
Dow	12,548.35	+68.72	+0.55%
Nasdaq	2,481.24	+36.57	+1.50%
S&P 500	1,385.35	+9.42	+0.68%
30-yr Bond	4.6450%	+0.0880

NYSE Volume	3,486,459,750
Nasdaq Volume	1,690,459,380

*Overseas,* 
Japan's Nikkei stock average rose 1.48 percent. Britain's FTSE 100 fell 0.47 percent, Germany's DAX index rose 0.07 percent, and France's CAC-40 fell 0.63 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,058.50	-28.80	-0.47%
DAX	6,958.66	+4.82	+0.07%
CAC 40	4,906.56	-31.28	-0.63%


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,893.31	+203.12	+1.48%
Hang Seng	24,282.04	+154.73	+0.64%
Straits Times	3,115.35	+12.05	+0.39%

http://biz.yahoo.com/ap/080527/wall_street.html
*Stocks higher after home sales data, lower oil*
Tuesday May 27, 4:22 pm ET
By Joe Bel Bruno, AP Business Writer
*Investors move back into stocks after strong home sales data, oil's retreat*

NEW YORK (AP) -- Wall Street advanced in uneven trading Tuesday after a drop in oil prices and an unexpected gain in new home sales encouraged investors to put money back into the market.

Stocks picked up momentum late in the session as oil prices drifted below $129 a barrel. This helped ease investor concerns about the effect of soaring energy and food prices on consumers, who account for more than two-thirds of U.S. economic activity.

With gas prices up sharply from a year ago, many on Wall Street are worried that nervous consumers will stop reaching into their wallets for discretionary purchases. That was confirmed by fresh data from the Conference Board, which said its Consumer Confidence Index dropped for the fifth straight month and is now at its lowest level since October 1992.

Investors were also somewhat reassured after the Commerce Department said sales of new homes rose 3.3 percent in April to a seasonally adjusted rate of 526,000 units. In March, sales had fallen 11 percent to their weakest pace since 1991.

The three major indexes traded with uncertainty through most of the session, and showed investors remained hesitant to place big bets. Many on Wall Street believe there is still plenty to be cautious about.

"You have a problematic scenario: falling home prices, rising food and energy prices, the credit crunch, and the labor market isn't doing that well," said Stephen Carl, principal and head of equity trading at The Williams Capital Group. "We're going through this period right now, and it's going to take some time to come out of it."

According to preliminary calculations, the Dow Jones industrial average rose 68.72, or 0.55 percent, to 12,548.35.

The Standard & Poor's 500 index rose 9.42, or 0.68 percent, to 1,385.35, and the Nasdaq composite index rose 36.57, or 1.50 percent, to 2,481.24.

The advance came after the Dow lost 3.91 percent last week -- its worst showing since February -- while the other indexes showed similar declines. Investors sold off stocks amid concerns about rising energy prices and after a sizable run-up since the market's lows in mid-March.

Bond prices fell Tuesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.92 percent from 3.85 percent late Friday.

A barrel of light sweet crude fell $3.34 to settle at $128.85 on the New York Mercantile Exchange. Gold fell, while the dollar gained.

Earlier in Tuesday's session, the Standard & Poor's/Case-Shiller home price index indicated that prices fell 14.1 percent during the quarter. However, the drop was expected by most investors -- and the government's report on new home sales was considered more important because it is the most recent gauge on the industry.

Todd Salamone, director of trading at Schaeffer's Investment Research in Cincinnati, said investors were also focused ahead of more economic data due during the week. "There's a ton of reports that will give us a better idea about the consumer, and that's what we're watching," he said.

Economic reports on tap include Wednesday's government data on durable goods that will provide more insight into consumer spending on big-ticket items. On Friday, the University of Michigan will release its report on consumer sentiment, the government data will issue personal spending numbers and the Chicago Purchasing Managers Index will be released.

Federal Reserve Bank of San Francisco President Janet Yellen, who is not a voting member of the central bank, said in prepared comments at a speech in California that any interest rate hikes are still some way off. She also reiterated that the economy should pick up during the second half.

In corporate news, Vodafone Group PLC posted a full-year profit and said its chief executive plans to resign. The world's biggest mobile phone company by sales said Arun Sarin will be replaced by his deputy, Vittorio Colao. Shares of Vodafone fell 34 cents to $32.21.

Blackstone Group LP and Apollo Management LP are holding discussions about acquiring specialty chemicals maker Chemtura Corp., according to a report by The Wall Street Journal, which cited a person familiar with the situation. Blackstone shares rose 37 cents at $18.91, while Chemtura shares rose 67 cents, or 8.6 percent, to $8.47.

Flotek Industries Inc. fell $1.85, or 9.6 percent, to $17.32 after the provider of oilfield services reduced its full-year profit forecast because of increased costs and delays in the delivery of parts.

The Russell 200 index of smaller companies rose 10.28, or 1.42 percent, to 734.38.

Advancing issues led decliners by 3 to 2 basis on the New York Stock Exchange, where volume came to 900.9 million shares.

Overseas, Japan's Nikkei stock average rose 1.48 percent. Britain's FTSE 100 fell 0.47 percent, Germany's DAX index rose 0.07 percent, and France's CAC-40 fell 0.63 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street managed to finish an erratic session with a moderate gain Wednesday as investors found some comfort in upbeat data on durable goods orders.

The NYSE DOW closed HIGHER by +45.68	points +0.36% on Wednesday May 28

Sym Last........ ........Change..........
Dow	12,594.03	+45.68	+0.36%
Nasdaq	2,486.70	+5.46	+0.22%
S&P 500	1,390.84	+5.49	+0.40%
30-yr Bond	4.6970%	+0.0520

NYSE Volume	3,866,306,750
Nasdaq Volume	1,832,884,750


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,069.60	+11.10	+0.18%
DAX	7,033.84	+75.18	+1.08%
CAC 40	4,971.11	+64.55	+1.32%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 22513,709.44 	-183.87 	-1.32%
Hang Seng	24,249.51	-32.53	-0.13%
Straits Times	3,132.78	+17.43	+0.56%

http://biz.yahoo.com/ap/080528/wall_street.html
Stocks rise after durable goods data
Wednesday May 28, 4:37 pm ET
By Tim Paradis, AP Business Writer
Stocks rise after smaller-than-expected drop in durable goods, but oil weighs on investors

NEW YORK (AP) -- Wall Street managed to finish an erratic session with a moderate gain Wednesday as investors found some comfort in upbeat data on durable goods orders.

Oil prices, however, remain a big focus on Wall Street. Crude's recovery from its lows Wednesday ate into some of the stock market's enthusiasm over the Commerce Department's durable goods report; the government said orders for items including aircraft, machinery, cars, refrigerators and computers slipped 0.5 percent last month.

Wall Street expected a steeper decline. Excluding transportation, orders rose 2.5 percent -- the sharpest increase in nine months. And orders for electrical equipment and appliances jumped 27.8 percent, the largest-ever increase.

But oil's comeback touched off renewed worries that high energy prices will hurt businesses and their customers. Hesitation among shoppers isn't what Wall Street wants, as consumer spending accounts for more than two-thirds of U.S. economic activity.

"It seems that the good news is really being kind of overshadowed by high oil prices," said Richard Sparks, a senior equity analyst at Schaeffer's Investment Research in Cincinnati. "The fear is that higher oil prices might drive us into that recessionary area."

According to preliminary calculations, the Dow Jones industrial average rose 45.68, or 0.36 percent, to 12,594.03. The blue chips had been down more than 45 points earlier in the session.

Broader stock indicators also ended higher. The Standard & Poor's 500 index rose 5.49, or 0.40 percent, to 1,390.84, and the Nasdaq composite index rose 5.46, or 0.22 percent, to 2,486.70.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow was up nearly 133 points at its high of the session.

Stocks rose for the third straight session Thursday as oil prices fell sharply and the government reported that the economy grew last quarter at a faster pace than previously estimated.

The NYSE DOW closed HIGHER by +52.19 points +0.41% on Thursday May 29

Sym Last........ ........Change..........
Dow	12,646.22	+52.19	+0.41%
Nasdaq	2,508.32	+21.62	+0.87%
S&P 500	1,398.26	+7.42	+0.53%
30-yr Bond	4.7650%	+0.0680

NYSE Volume	3,850,276,750
Nasdaq Volume	1,968,794,620

*Overseas*
Japan's Nikkei stock average closed up 3.03 percent. Britain's FTSE 100 slipped 0.02 percent, Germany's DAX index advanced 0.30 percent, and France's CAC-40 rose 0.10 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,068.10	-1.50	-0.02%
DAX	7,055.03	+21.19	+0.30%
CAC 40	4,975.90	+4.79	+0.10%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	14,124.47	+415.03	+3.03%
Hang Seng	24,383.99	+134.48	+0.55%
Straits Times	3,160.78	+28.00	+0.89%

http://biz.yahoo.com/ap/080529/wall_street.html
*Stocks jump after decline in oil, GDP revision*
Thursday May 29, 5:19 pm ET
By Tim Paradis, AP Business Writer
*Stocks jump after oil prices retreat, revision to GDP eases some concern about economy*

NEW YORK (AP) -- Stocks rose for the third straight session Thursday as oil prices fell sharply and the government reported that the economy grew last quarter at a faster pace than previously estimated.

A rising dollar helped push crude oil prices down by more than $4 per barrel, the biggest single-session drop since March.

Investors have been concerned recently that rising oil and gasoline prices would dent consumer spending, which accounts for more than two-thirds of U.S. economic activity.

The revised reading of first-quarter gross domestic product helped ease some worries over recession, which is defined by two straight quarters of decreasing GDP. The Commerce Department said the economy grew at an annual rate of 0.9 percent -- above the department's earlier estimate of 0.6 percent and the fourth-quarter increase of 0.6 percent.

Meanwhile, MasterCard Inc. said consumers are continuing to reach into their wallets for plastic. The company's shares jumped to a fresh high after the credit card processor said it still expects to see double-digit growth in net revenue this year. While it said gross dollar growth in the U.S. is slowing, purchasing is increasing in other parts of the world. Avoiding a big falloff in consumer spending and strength elsewhere in the world could help the U.S. economy avoid a serious downturn, some economists have reasoned.

The signs Thursday of resilience in the U.S. economy appeared welcome.

"The GDP news was pretty good. From our perspective, we're not going to see a negative quarter of GDP, so earnings are going to improve," said Scott Wren, senior equity strategist for Wachovia Securities.

The Dow Jones industrial average rose 52.19, or 0.41 percent, to 12,646.22. The Dow was up nearly 133 points at its high of the session.

Broader stock indicators also rose after trading mixed early in the session. The Standard & Poor's 500 index advanced 7.42, or 0.53 percent, to 1,398.26, and the Nasdaq composite index rose 21.62, or 0.87 percent, to 2,508.32.

Government bonds fell as stocks rose. The 10-year Treasury note's yield, which moves opposite its price, rose to 4.09 percent from 4.01 percent late Wednesday.

The dollar rose against other major currencies, while gold prices fell.

Light, sweet crude fell $4.41 to settle at $126.62 on the New York Mercantile Exchange. It was the lowest close in two weeks. The Energy Department said unexpected declines in crude and gasoline supplies last week stemmed from delays in unloading tankers.

Wren of Wachovia contends that stocks, which pulled back last week after posting sizable gains since the market's mid-March lows, are going to need a hefty dose of good news to move well above their recent levels.

"I think we're going to be stuck in this range," he said. "To get out and above that level, I think you're just going to have to see a lot of good news and some clarity."

Jerry Webman, chief economist at Oppenheimer Funds Inc., said that the recent increases in oil and gasoline are pressing consumers and that a drop in how financially well-off people feel could lead to a further slowdown in spending.

He added that the stock market's gyrations and limited gains since last year have eroded some confidence.

"We're about where we were at the beginning of 2007," Webman said. "I'm not pessimistic but I don't think this trend since the middle of March is the beginning of the first leg of the next bull market."

In corporate news, MasterCard rose $22.11, or 7.7 percent, to $309 after releasing its forecast. Retailers also offered insights into the effects of energy costs on consumers.

Costco Wholesale Corp. reported that its fiscal third-quarter profit rose 32 percent as customers flocked to its warehouse clubs to find bargains on food and toiletries. The stock fell 26 cents to $72.98, however, after Costco warned that Wall Street's forecast for the company's fourth quarter could be too optimistic.

Retailer Sears Holdings Corp. fell $3.22, or 3.6 percent, to $86.14 after posting a $56 million first-quarter loss that was worse than Wall Street forecast. The company said customers allocated more of their budgets to gasoline and food.

Advancing issues outnumbered decliners by about 2 to 1 on the New York Stock Exchange, where volume came to 1.23 billion shares compared with 1.21 billion shares traded Wednesday.

The Russell 2000 index of smaller companies rose 7.09, or 0.96 percent, to 745.55.

Overseas, Japan's Nikkei stock average closed up 3.03 percent. Britain's FTSE 100 slipped 0.02 percent, Germany's DAX index advanced 0.30 percent, and France's CAC-40 rose 0.10 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

All three indexes finished higher for the week, recovering from the previous week's sharp losses. The dollar stabilized and oil prices pulled back from record highs during the past four sessions, giving investors some relief as they parsed data suggesting that the economy is weak but not technically in recession.

The Dow rose 1.27 percent, the S&P 500 gained 1.78 percent and the Nasdaq picked up 3.19 percent.

The NYSE DOW closed LOWER by -7.90 points	-0.06% on Friday May 30

Sym Last........ ........Change..........
Dow	12,638.32	-7.90	-0.06%
Nasdaq	2,522.66	+14.34	+0.57%
S&P 500	1,400.38	+2.12	+0.15%
30-yr Bond	4.7070%	-0.0580

NYSE Volume	3,847,263,750
Nasdaq Volume	2,209,083,750

*Overseas*
Japan's Nikkei stock average closed up 1.52 percent. Britain's FTSE 100 fell 0.24 percent, Germany's DAX index advanced 0.59 percent, and France's CAC-40 rose 0.77 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	6,053.50	-14.60	-0.24%
DAX	7,096.79	+41.76	+0.59%
CAC 40	5,014.28	+38.38	+0.77%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	14,338.54	+214.07	+1.52%
Hang Seng	24,533.12	+149.13	+0.61%
Straits Times	3,192.62	+31.84	+1.01%

http://biz.yahoo.com/ap/080530/wall_street.html
Wall Street wavers after economic data
Friday May 30, 5:40 pm ET
By Madlen Read, AP Business Writer
Stocks finish narrowly mixed after economic reports, ahead of next week's data

NEW YORK (AP) -- Wall Street closed out a winning week with a narrowly mixed performance Friday after the government reported that Americans' spending rose in April to keep pace with rising costs.

Investors who sent stocks higher for three straight sessions turned cautious after the Commerce Department said personal spending rose 0.2 percent last month and personal income rose 0.2 percent. The department also said inflation at the personal spending level, after stripping out food and energy costs, ticked up in April by a tame 0.1 percent.

The readings were in line with the market's expectations, and supported the notion that high commodities costs are not yet causing a sharp pullback in spending or lifting prices for other goods. Meanwhile, the technology sector got a lift after computer maker Dell Inc. and chip maker Marvell Technology Group Ltd. posted stronger-than-expected quarterly results.

But Wall Street's concerns about the economy and inflation are far from erased, despite the stock market's healthy gain this week. Although the government estimated Thursday that first-quarter gross domestic product grew by nearly 1 percent, Americans still face rising costs for necessities such as groceries and gasoline. Furthermore, crude oil remains near record highs -- a serious drag on consumer spending which accounts for more than two-thirds of the U.S. economy.

Investors will get a clearer picture next week when a number of key economic reports will be released. Analysts believe strong data on job growth and manufacturing will boost stocks -- or, if the reports are disappointing, deliver a setback to the markets.

"It is now all about the economy, and I think we're going to get numbers that might be a requiem for the recession forecasters," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners. "Not to say the numbers will be great, but not as bad as people might have anticipated. That will give the market a lift."

He said some investors were adjusting their positions Friday ahead of the data. The Dow Jones industrial average fell 7.90, or 0.06 percent, to 12,638.32.

Broader stock indicators edged higher. The Standard & Poor's 500 index added 2.12, or 0.15 percent, to 1,400.38, and the Nasdaq composite index rose 14.34, or 0.57 percent, to 2,522.66.

All three indexes finished higher for the week, recovering from the previous week's sharp losses. The dollar stabilized and oil prices pulled back from record highs during the past four sessions, giving investors some relief as they parsed data suggesting that the economy is weak but not technically in recession.

The Dow rose 1.27 percent, the S&P 500 gained 1.78 percent and the Nasdaq picked up 3.19 percent.

Government bonds edged up Friday. The yield on the 10-year Treasury note, which moves opposite its price, fell to 4.06 percent in late trading from 4.08 percent on Thursday.

The energy markets continued to weigh on investors, however, with oil prices down from record levels but threatening to surge again. Crude oil futures settled up 73 cents at $127.35 a barrel in erratic trading on the New York Mercantile Exchange.

"We've hit a level where you're starting to see demand destruction," said John Massey, portfolio manager at AIG SunAmerica Asset Management.

The dollar fell against other major currencies, while gold prices rose.

Wall Street will look for signs of how rising inflation is affecting the economy in several reports due next week. The Institute for Supply Management will release an index of conditions in the manufacturing sector on Monday and its services sector report on Wednesday.

The Labor Department on Friday will release its May employment report, one of the most closely-watched indicators of economic health.

In corporate news, the technology-dominated Nasdaq got a boost after Dell, the world's second-largest seller of personal computers, issued a profit report late Thursday that was stronger than analysts expected due to growth in Asia and robust sales of notebook computers.

Dell shares jumped $1.25, or 5.7 percent, to $23.06, and injected some optimism into Wall Street that foreign economies are helping many companies weather the weak U.S. market.

Marvell Technology swung to a larger-than-expected profit in the quarter ended May 3, and its revenue also beat analyst forecasts. Shares rose $3.28, or 23.3 percent, to $17.36.

The Russell 2000 index of smaller companies rose 2.73, or 0.37 percent, to 748.28.

Advancing issues outnumbered decliners by about 8 to 7 on the New York Stock Exchange, where consolidated volume came to 3.72 billion shares, compared to 3.81 billion shares on Thursday.

Overseas, Japan's Nikkei stock average closed up 1.52 percent. Britain's FTSE 100 fell 0.24 percent, Germany's DAX index advanced 0.59 percent, and France's CAC-40 rose 0.77 percent.

The Dow Jones industrial average ended the week up 158.69, or 1.27 percent, at 12,638.32. The Standard & Poor's 500 index finished up 24.45, or 1.78 percent, at 1,400.38. The Nasdaq composite index ended the week up 77.99, or 3.19 percent, at 2,522.66.

The Russell 2000 index finished the week up 24.18, or 3.34 percent, at 748.28.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 14,260.76, up 306.28 points, or 2.19 percent, for the week. A year ago, the index was at 15,441.30.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com


Wall Street retreated Monday on more signs of economic weakness and executive shake-ups at two major banks -- reminders of the ongoing fallout from the credit crisis. The Dow Jones industrial average fell more than 130 points.

The NYSE DOW closed LOWER by -134.50 points -1.06% on Monday June 2

Sym Last........ ........Change..........
Dow 12,503.82 -134.50 -1.06% 
Nasdaq 2,491.53 -31.13 -1.23% 
S&P 500 1,385.67 -14.71 -1.05% 
10 Yr Bond(%) 3.9710% -0.0750 

*Overseas*
Japan's Nikkei stock average closed up 0.71 percent. Britain's FTSE 100 fell 0.76 percent, Germany's DAX index fell 1.24 percent, and France's CAC-40 fell 1.58 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 6,007.60 -45.90 -0.76% 
DAX 7,008.77 -88.02 -1.24% 
CAC 40 4,935.21 -79.07 -1.58% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 14,440.14 +101.60 +0.71% 
Hang Seng 24,831.36 +298.24 +1.22% 
Straits Times 3,188.05 -4.57 -0.14% 

http://biz.yahoo.com/ap/080602/wall_street.html
*Stocks down after tepid economic data, bank woes*
Monday June 2, 5:33 pm ET 
By Madlen Read, AP Business Writer  
*Stocks fall sharply on downbeat economic data, new worries about financial sector health *

NEW YORK (AP) -- Wall Street retreated Monday on more signs of economic weakness and executive shake-ups at two major banks -- reminders of the ongoing fallout from the credit crisis. The Dow Jones industrial average fell more than 130 points.

Two key economic reports indicated that the economy is still struggling. As expected, the Institute for Supply Management's manufacturing index for May showed its fourth straight monthly decline, while the Commerce Department said construction spending dipped in April for the sixth time in seven months due to a drop in home building.

The market drew no comfort from the ailing financial sector, either. As the financial system still contends with the aftermath of the nation's prolonged credit problems, Wachovia Corp. Chief Executive Ken Thompson was forced out Monday, and Washington Mutual Inc. is taking the chairman role away from chief executive Kerry Killinger. Thompson has become the third CEO of a major U.S. financial institution to lose the top job as a result of the credit crisis.

In addition, British lender Bradford & Bingley issued a poor financial outlook and said it is selling a 23 percent stake to a private equity firm, while the ratings agency Standard & Poor's Corp. downgraded Merrill Lynch & Co., Morgan Stanley and Lehman Brothers Holdings Inc. and revised Banc of America Corp. and JPMorgan Chase & Co.'s outlooks to negative.

S&P's review of the financial sector suggested there could be more write-downs coming, though likely not as large as in recent quarters, and "further sharp deterioration" in mortgage loan portfolios and residential construction."

Brian Gendreau, investment strategist for ING Investment Management, said the markets have been "hypersensitive about anything to do with credit" in recent months, and the combination of the S&P cuts, the bank news and comments in an overseas speech by U.S. Treasury Secretary Henry Paulson weighed on the market.

"Basically, he suggested that there were further problems to come in the banking and financial sector," Gendreau said. "That's just toxic for stocks."

The retreat follows a pattern in the past month where investors, looking to ignite a rally, quickly back-pedal with any hint of bad economic or corporate news. One such spoiler has been the record pace of oil prices, which has not given investors much respite. After slipping last week, light, sweet crude for July delivery rose 41 cents to settle at $127.76 a barrel on the New York Mercantile Exchange.

The Dow Jones industrial average fell 134.50, or 1.06 percent, to 12,503.82, after gaining last week on better-than-expected economic data and a pullback in oil prices. The blue chip index had shed more than 200 points during the session.

Broader stock indicators also dropped Monday. The S&P 500 index fell 14.71, or 1.05 percent, to 1,385.67. The Nasdaq composite index fell 31.13, or 1.23 percent, to 2,491.53.

Government bonds rose as stocks pulled back. The 10-year Treasury note's yield, which moves opposite its price, fell to 3.97 percent from 4.06 percent late Friday. The yield was unchanged in late trading.

High energy costs have been hurting both companies and consumers, who still face falling home prices. Real estate data company Radar Logic said Monday that only one of the 25 metropolitan areas it tracks, Milwaukee, saw a rise in real estate values in March.

Paulson, during a speech in Abu Dhabi, said there are no "quick remedies" for rising energy prices, which he attributed to high demand and limited supplies. Paulson also said the housing and capital markets are working through their issues, but he expects that process to continue "for some time."

In its manufacturing data Monday, the ISM said commodity prices for the manufacturing sector rose at a faster rate in May than in April.

After announcing its CEO's departure, Wachovia shares closed down 37 cents at $23.43 after earlier falling to $22.72, their lowest point since 1995. WaMu fell 5 cents to $8.97.

Lehman fell $2.98, or 8.1 percent, to $33.83. Morgan Stanley lost $1.13, or 2.6 percent to $43.10 and Merrill fell $1.30, or 3 percent, to $42.62.

And weighing on the Nasdaq, shares of ImClone Systems Inc. fell $2.64, or 6.1 percent, to $40.94 on disappointment over trial data for its drug Erbitux as a treatment for lung cancer and colorectal cancer.

Declining issues outnumbered advancers by about 3 to 1 on the New York Stock Exchange, where consolidated volume was 3.59 billion shares, compared to 3.72 billion on Friday.

The Russell 2000 index of smaller companies fell 7.26, or 0.97 percent, to 741.02.

The dollar was mixed against other major currencies, while gold prices edged higher.

Overseas, Japan's Nikkei stock average closed up 0.71 percent. Britain's FTSE 100 fell 0.76 percent, Germany's DAX index fell 1.24 percent, and France's CAC-40 fell 1.58 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com


Wall Street fell sharply for a second straight day Tuesday as investors grew more worried that the financial sector is still suffering badly from the credit crisis. The Dow Jones industrials dropped more than 100 points, bringing their two-day loss to 235.

The NYSE DOW closed LOWER by -100.97 points -0.81% on Tuesday June 3

Sym Last........ ........Change..........
Dow 12,402.85 -100.97 -0.81% 
Nasdaq 2,480.48 -11.05 -0.44% 
S&P 500 1,377.65 -8.02 -0.58% 
10 Yr Bond(%) 3.8980% -0.0730 

Overseas
Japan's Nikkei stock average closed down 1.60 percent. In afternoon trading, Britain's FTSE 100 closed up 0.83 percent, Germany's DAX index added 0.15 percent, and France's CAC-40 rose 0.98 percent.
*Europe*
Symbol... Last...... .....Change.......
FTSE 100 6,057.70 +50.10 +0.83% 
DAX 7,019.13 +10.36 +0.15% 
CAC 40 4,983.71 +48.50 +0.98% 

http://biz.yahoo.com/ap/080603/wall_street.html
*Stocks slide on more concerns about financials*
Tuesday June 3, 5:42 pm ET 
By Joe Bel Bruno, AP Business Writer  
*Wall Street grows more fearful that banks and brokerages still suffering from credit crisis *
NEW YORK (AP) -- Wall Street fell sharply for a second straight day Tuesday as investors grew more worried that the financial sector is still suffering badly from the credit crisis. The Dow Jones industrials dropped more than 100 points, bringing their two-day loss to 235.

The market was treading water for much of the session, then tumbled in early afternoon as concerns about financial companies intensified. Reports that Lehman Brothers Holdings Inc. planned to raise $4 billion in capital later expanded into a rumor on trading desks that the investment bank approached the Federal Reserve to borrow money.

Lehman Treasurer Paolo Tonucci quickly refuted the speculation, but the damage had already been done. Lehman dropped as much as 14.5 percent, and dragged down other banks and brokerages and ultimately the rest of the market along with it.

"This market's very jittery and nervous, and a lot of times you'll see wild moves, wild gyrations, when it's driven by rumors and innuendo," said Jim Herrick, manager of equity trading at Baird & Co., who added that the rumors reminded investors of Bear Stearns' near-collapse in March.

The Lehman rumors followed a spate of bad news about other financial companies on Monday, including a downgrade of the nation's four biggest investment banks by rating agency Standard & Poor's. Separately, anxiety about weak May auto sales figures and fresh concerns about inflation also cut into investor appetite for stocks.

The Dow fell 100.97, or 0.81 percent, to 12,402.85, after being down more than 160 points earlier.

Broader market indexes were also lower. The Standard & Poor's 500 index dropped 8.02, or 0.58 percent, to 1,377.65, while the Nasdaq composite index fell 11.05, or 0.44 percent, to 2,480.48.

Early in the session, comments from Federal Reserve Chairman Ben Bernanke seemed to support the market. In a speech via satellite to a conference in Barcelona, Spain, the Fed chief reiterated expectations the economy will rebound during the second half due to interest rate cuts, Fed loans to banks and tax rebates.

But he also said the economy faces headwinds with rising prices for food and energy -- a signal that interest rates will remain on hold. Inflation-weary investors are wrangling with record oil and gasoline prices, which last month peaked at $135.09 a barrel.

Though oil has since retreated, the fear is that higher energy costs are already hurting strapped consumers whose spending accounts for more than two-thirds of economic growth. Light, sweet crude for July delivery fell $3.45 to settle at $124.31 a barrel on the New York Mercantile Exchange.

Bernanke's comments set off sharp reactions across other markets. The biggest response came in the dollar, which rallied after Bernanke said he'd remain "attentive" to the sagging currency because of its impact on inflation.

And, government debt was mixed amid expectations that interest rates will be placed on hold. The 10-year Treasury note's yield, which moves opposite its price, was at 3.89 percent, down from 3.97 percent late Monday.

"There's still some more bad news to come on credit and the economy, but I think it's positive that most people think we're past the peak of the crisis," said Alexander Paris, market analyst for Chicago-based Barrington Research.

Government data showing a surge in factory orders came in earlier Tuesday, and a barometer of capital spending by U.S. businesses also jumped. Noting that most news regarding the manufacturing sector has been strong in recent weeks, Paris added, "the main concern about the economy is clearly the consumer."

That was spelled out in auto sales statistics released during the session. Ford Motor Co. said May U.S. sales fell 16 percent compared with last year, while General Motors Corp. said sales were down 28 percent, in part because of strikes at a supplier and several GM plants.

Rick Wagoner, GM's chairman and CEO, said the company plans to halt production at four North American plants, and is considering a sale of its Hummer brand. Wagoner said high oil prices have altered consumer behavior, and that he believes it is a permanent shift. GM gained 14 cents to $17.58, while Ford rose 4 cents to $6.68.

Lehman and other investment banks dipped to lows not seen since March 17, when the deal that led to JPMorgan Chase & Co. acquisition of Bear Stearns Cos. was announced. The sector recovered much of the drop as the session wore on.

Lehman shares closed down $3.22, or 9.5 percent, at $30.61 despite its treasurer's denial of rumors about borrowing from the Federal Reserve's discount window and assertion that the investment bank has sufficient liquidity.

"There's this long, slow grind in the financials, and the market's still trying to find the silver bullet to address all of these concerns at the big banks and money centers," Craig Peckham, market strategist at Jefferies & Co. .

The Russell 2000 index of smaller companies fell 2.02, or 0.27 percent, to 739.00.

Declining issues outpaced advancers by 3 to 2 on the New York Stock Exchange, where consolidated volume came to 4.23 billion shares, up from 3.59 billion on Monday.

Overseas, Japan's Nikkei stock average closed down 1.60 percent. In afternoon trading, Britain's FTSE 100 closed up 0.83 percent, Germany's DAX index added 0.15 percent, and France's CAC-40 rose 0.98 percent.

AP Business Writers Eileen AJ Connelly and Madlen Read contributed to this report from New York.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com




*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 14,209.17 -230.97 -1.60% 
Hang Seng 24,375.76 -455.60 -1.83% 
Straits Times 3,153.94 -34.11 -1.07%


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street has ended a wobbly session with mixed results as concerns about the financial sector eroded enthusiasm over a decline in oil prices and a report that signaled modest growth in the service economy.

The NYSE DOW closed LOWER by -12.37 points -0.10% on Wednesday June 4

Sym Last........ ........Change..........
Dow 12,390.48 -12.37 -0.10% 
Nasdaq 2,503.14 +22.66 +0.91% 
S&P 500 1,377.20 -0.45 -0.03% 
10 Yr Bond(%) 3.9400% +0.0420 

*Overseas*
Japan's Nikkei stock average rose 1.59 percent. Britain's FTSE 100 closed down 1.45 percent, Germany's DAX index fell 0.77 percent, and France's CAC-40 declined 1.38 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,970.10 -87.60 -1.45% 
DAX 6,965.43 -53.70 -0.77% 
CAC 40 4,915.07 -68.64 -1.38% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 14,435.57 +226.40 +1.59% 
Hang Seng 24,123.25 -252.51 -1.04% 
Straits Times 3,134.80 -19.14 -0.61% 

http://biz.yahoo.com/ap/080604/wall_street.html
*Stocks wobble as financials weigh on sentiment*
Wednesday June 4, 4:32 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks end mixed after back-and-forth day, as financials weigh on sentiment* 

NEW YORK (AP) -- Wall Street has ended a wobbly session with mixed results as concerns about the financial sector eroded enthusiasm over a decline in oil prices and a report that signaled modest growth in the service economy.

The latest worries about financial companies flared after Moody's Investors Service warned it might downgrade its ratings on bond insurers Ambac Assurance Corp. and MBIA Insurance Corp. That followed two days of sharp declines fueled by fears regarding more bank write-downs and concerns about Lehman Brothers Holdings Inc. liquidity.

Buoyed earlier by a decline in oil prices and a positive report on the service sector from the Institute for Supply Management, stocks moved from positive to negative throughout the session. Some investors looking to sidestep the troubled financial sector moved into technology stocks, giving the Nasdaq composite index the only advance for the major indexes.

According to preliminary calculations, the Dow Jones industrial average fell 12.37, or 0.10 percent, to 12,390.48.

Broader indexes were mixed. The Standard & Poor's 500 index fell 0.45, or 0.03 percent, to 1,377.20, while the Nasdaq rose 22.66, or 0.91 percent, to 2,503.14.

Bond prices fell as stocks advanced. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.92 percent from 3.89 percent late Tuesday. The dollar was mixed against other major currencies, while gold prices fell.

Hugh Whelan, managing director at Hartford Investment Management Co., said Wall Street will likely remain moored to its current levels until there is a sustained pullback in oil and until a more robust corporate profit picture emerges.

"I think broadly speaking we'll probably trade at a range over the next few months," he said. "From a valuation perspective the market is right where it should be given current profit levels."

He said some investors are gravitating toward technology stocks thinking that profits at such companies are likely to hold up better in a weak economy and that tech could be an early winner should the economy begin to show signs of picking up.

"It's just a sector that is not plagued by some of the worries that are foremost on people's mind," he said, pointing to concerns about credit quality that are dogging the financial sector and unease over the effect of rising energy prices on companies dependent on consumer spending.

The latest evidence of uneasiness about the financial sector came from Moody's announcement that it is reviewing the AAA insurance financial strength ratings for Ambac and MBIA. The rating agency said the "most likely" outcome of the review will be a downgrade. Ambac fell 51 cents, or 17 percent, to $2.49, while MBIA fell $1.06, or 16 percent, to $5.63.

One company in the financial space that weighed on the market Tuesday showed a rebound. Lehman Brothers Holdings Inc. rose 79 cents to $31.40 after Merrill Lynch raised its rating on the company. Lehman on Tuesday denied rumors that it had tapped the Federal Reserve's discount window because of cash problems. Reports Tuesday that the investment bank needs to raise up to $4 billion in capital touched off further concerns about the health of the financial sector.

J.M. Smucker Co. said it agreed to acquire the Folgers coffee brand from Procter & Gamble Co. in a nearly $3 billion stock deal. Smucker slipped 12 cents to $53.87, while P&G advanced $1.04 to $66.45.

United Airlines parent UAL Corp. rose 61 cents, or 7.2 percent, to $9.14 after saying it plans to cut as many as 1,100 more jobs, remove 70 fuel-hungry aircraft from its fleet and reduce domestic capacity to trim costs in the face of surging energy costs. The nation's No. 2 carrier previously said it planned to cut 500 jobs and that it would mothball some of its least fuel-efficient aircraft.

Declining issues outnumbered advancers by about 8 to 7 on the New York Stock Exchange, where volume came to 1.3 billion shares.

The Russell 2000 index of smaller companies rose 4.71, or 0.64 percent, to 743.71.

Overseas, Japan's Nikkei stock average rose 1.59 percent. Britain's FTSE 100 closed down 1.45 percent, Germany's DAX index fell 0.77 percent, and France's CAC-40 declined 1.38 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street surged Thursday as investors looked past a sharp rebound in oil prices and focused on comforting news about the economy -- better-than-expected retail sales and a drop in the number of laid-off workers seeking unemployment benefits.

The Dow Jones industrials rose almost 214 points, posting its biggest daily point gain since April 18.


*The NYSE DOW closed HIGHER by +213.97 points	+1.73% on Thursday June 5*

Sym Last........ ........Change..........
Dow	12,604.45	+213.97	+1.73%
Nasdaq	2,549.94	+46.80	+1.87%
S&P 500	1,404.05	+26.85	+1.95%
30-yr Bond	4.7300%	+0.0450

NYSE Volume	4,379,498,500
Nasdaq Volume	2,260,618,750

*Overseas*
Japan's Nikkei stock average finished down 0.65 percent. Britain's FTSE 100 finished up 0.42 percent, Germany's DAX index declined 0.34 percent, and France's CAC-40 fell 0.16 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,995.30	+25.20	+0.42%
DAX	6,941.83	-23.60	-0.34%
CAC 40	4,907.06	-8.01	-0.16%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	14,341.12	-94.45	-0.65%
Hang Seng	24,255.29	+132.04	+0.55%
Straits Times	3,143.89	+9.09	+0.29%

http://biz.yahoo.com/ap/080605/wall_street.html
*Stocks rise following jobs report, retailer data*
Thursday June 5, 5:31 pm ET
By Tim Paradis, AP Business Writer
*Wall Street shrugs off spike in oil and finds solace in upbeat jobs data, retailer sales*

NEW YORK (AP) -- Wall Street surged Thursday as investors looked past a sharp rebound in oil prices and focused on comforting news about the economy -- better-than-expected retail sales and a drop in the number of laid-off workers seeking unemployment benefits.

The Dow Jones industrials rose almost 214 points, posting its biggest daily point gain since April 18.

The market got an additional boost from word that Verizon Wireless will acquire Alltel Communications LLC for $5.9 billion in cash and the assumption of $22.2 billion in debt.

Not all of Thursday's news was positive, however. Even though the Labor Department said applications for unemployment benefits declined last week by 18,000 to 357,000, its four-week average rose to a four-month high.

Other worrisome developments included a more than $5 spike in crude oil prices to almost $128 a barrel, a steep tumble by the dollar against the euro, rising bond yields, a new record high in corn prices, and a Mortgage Bankers Association report showing that nearly 1 percent of mortgages fell into foreclosure between January and March.

Stock investors appeared to be ignoring Thursday's negative signals. Instead they were betting on an economic recovery later in the year.

Alfred E. Goldman, chief market strategist at Wachovia Securities, contends the market is entering a stronger period because of investors' ability to not overreact to some bad news such as rising oil prices and a weak dollar and to focus instead on the retail sales and jobless claims numbers.

"What investors are doing is looking beyond the valley to the peaks ahead," he said. "The big picture is that we're in a market that's transitioning from a bear to a bull."

The Dow rose 213.97, or 1.73 percent, to 12,604.45.

Broader stock indicators also advanced. The Standard & Poor's 500 index rose 26.85, or 1.95 percent, to 1,404.05, and the Nasdaq composite index rose 46.80, or 1.87 percent, to 2,549.94.

The Russell 2000 index of smaller companies rose 19.55, or 2.63 percent, to 763.26.

Stocks finished mixed Wednesday following sizable declines in the first two sessions of the week.

Among retailers reporting solid May results, Wal-Mart Stores Inc. said sales at stores open at least a year rose as consumers sought bargains. Wal-Mart shares rose $2.12, or 3.7 percent, to $59.80.

Subodh Kumar, global investment strategist at Subodh Kumar & Assoc. in Toronto, said the jobs figures and the Verizon Wireless deal offer some investors reassurance about the health of the economy.

"It looks like the U.S. is not in recession but, I would say, tepid growth," Kumar said.

Bond prices fell Thursday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 4.04 percent from 3.98 percent late Wednesday. Gold prices fell.

The stock market appeared to be shrugging off a sharp rebound in oil prices. Light, sweet crude oil rose $5.49 at $127.79 a barrel on the New York Mercantile Exchange.

The weekly jobs report came as investors continue to grapple with concerns about tightness in the credit market, the effect of still-high energy prices and a slumping housing market.

With the weekly jobs numbers in hand, Wall Street was looking ahead to the Labor Department's monthly employment reading, due Friday morning. That report often draws widespread attention because a spike in unemployment could upend consumer spending, which accounts for more than two-thirds of U.S. economic activity.

"I think tomorrow will be somewhat of a similar kind of a day in the sense that if the news is at or above expectations I think investors may be willing to buy in," said Kumar, referring to Friday's employment report.

Wachovia's Goldman said the market will still likely continue to vacillate, though, as investors look for further signs about the well-being of the economy.

"This is not going to be a one-way street up. I think it's going to be a more dull, churning market. After anybody has surgery you don't jump off the operating table and do the jitterbug. They keep you on the operating table," he said, alluding to a possibly gradual recovery in the market from concerns about bad credit and woes in the housing industry.

In corporate news, Verizon Communications Inc. rose $1.98, or 5.4 percent, to $38.96 after the announcement of Verizon Wireless' deal. Verizon Wireless is a joint venture between Verizon Communications and Vodafone PLC. Alltel was sold to TPG Capital and a unit of Goldman Sachs Group in a $27.5 billion leveraged buyout about seven months ago.

If completed, the deal would push Verizon Wireless past AT&T Inc. to become the biggest operator in the U.S.

Continental Airlines Inc. rose 68 cents, or 4.7 percent, to $15.18 after announcing plans to cut 3,000 jobs and reduce its capacity in the fourth quarter by 11 percent as it grapples with surging jet fuel prices. Company officials said the industry's business model "doesn't work with the current price of fuel."

Wal-Mart said its May same-store sales rose 4.4 percent. Excluding the effect of fuel sales, same-store sales rose 3.9 percent. The stock, which like Verizon Communications is one of the 30 that comprise the Dow industrials, rose $2.12, or 3.7 percent, to $59.80.

The stock market initially pulled back a bit after the ratings agency Standard & Poor's downgraded bond insurers Ambac Assurance Corp. and MBIA Insurance Corp. But the move did not come as a shock to most investors -- particularly given that another agency, Moody's Investor Service, on Wednesday put both insurers on negative credit watch.

Ambac rose 13 cents, or 5.2 percent, to $2.62, and MBIA rose 42 cents, or 7.5 percent, to $6.05.

Advancing issues outnumbered decliners by nearly 3 to 1 on the New York Stock Exchange, where consolidated volume came to 4.18 billion shares from 4.26 billion on Wednesday.

Overseas, Japan's Nikkei stock average finished down 0.65 percent. Britain's FTSE 100 finished up 0.42 percent, Germany's DAX index declined 0.34 percent, and France's CAC-40 fell 0.16 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## SM Junkie

Thanks bigdog for going to the trouble of posting this information everyday.  I'm sure there are many like myself who check this thread every morning.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

I use QuoteTracker (QT) software which is free with "live" feeds & connects Westpac Broking (WB) and Commsec, Etrade & many overseas sites

The QT portfolio combines many existing WB screens into one sceen (watch list, detailed quote & holdings; includes indexs, charts.  The holdings are updated without the WB 20 minute delay!
-- the screen can be sorted by any column & you can see you profit/loss at any point for the day change
-- live updates can be real time or set to say 60 seconds
-- includes links to ASX announcements
-- there is much more that I have yet to understand & discover!

I do need to use my WB account to buy and sell.

I read the Day Trader (DT) Darryl Morley in the Herald Sun every Wednesday & have set up a QT portfolio for this weeks list.  Attached is the DT portfolio screen at close yesterday

The second QT attachment shows some of the criteria that can be included

http://www.quotetracker.com/faq.shtml
http://www.quotetracker.com/download.asp


The Dow Jones industrial average ended the week down 428.51, or 3.39 percent, at 12,209.81. The Standard & Poor's 500 index finished down 39.70, or 2.83 percent, at 1,360.68. The Nasdaq composite index ended the week down 48.10, or 1.91 percent, at 2,474.56.

The NYSE DOW closed HIGHER by -394.64 points	-3.13% on Friday June 6

Sym Last........ ........Change..........
Dow	12,209.81	-394.64	-3.13%
Nasdaq	2,474.56	-75.38	-2.96%
S&P 500	1,360.68	-43.37	-3.09%
30-yr Bond	4.65%	-0.08

NYSE Volume	4,817,102,500
Nasdaq Volume	2,203,618,000

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,906.80	-88.50	-1.48%
DAX	6,803.81	-138.02	-1.99%
CAC 40	4,795.32	-111.74	-2.28%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	14,489.44	+148.32	+1.03%
Hang Seng	24,402.18	+146.89	+0.61%
Straits Times	3,146.73	+2.84	+0.09%

http://biz.yahoo.com/ap/080606/wall_street.html
*Stocks fall sharply on surge in oil, jobs data*
Friday June 6, 6:44 pm ET
By Tim Paradis, AP Business Writer
*Stocks tumble after surge in oil prices, surprise jump in unemployment; Dow falls nearly 400*

NEW YORK (AP) -- Wall Street tumbled Friday, taking the Dow Jones industrials down nearly 400 points, on a pair of alarming economic developments: oil prices that shot up by more than $11 a barrel and approached $140 for the first time, and the biggest gain in the government's unemployment reading in more than 20 years.

The jump in oil to a price that might have seemed unfathomable only a few months ago appeared to wipe out investors' recent optimism over the prospects for a strengthening of the economy. Oil jumped following a Morgan Stanley analyst's forecast of $150 oil by July 4, and in response to a drop in the dollar and fresh tensions in the Middle East.

The surge in oil seemed the guarantee that gasoline prices that are on the verge of a national average of $4 a gallon will only continue to climb, putting additional pressure on consumers who have been forced to forgo discretionary purchases in order to pay for gas and other basics. Moreover, consumers who can't find work or who are worried about losing a job will be even more hesitant to spend on extras.

Wall Street has been worried of late that a pullback in consumer spending will deal a blow to the economy, as Americans' expenditures account for more than two-thirds of U.S. economic activity. So Friday's surge in oil convinced many investors to pull money out of stocks that suddenly seemed too risky.

Crude oil saw a huge rebound during the week after falling amid a drop in demand for gasoline. The biggest gains came Friday, with light, sweet crude setting a high of $139.12 in after-hours trading on the New York Mercantile Exchange. Oil settled at $138.54, a gain of $10.75 for the regular session; that was the biggest one-day advance for oil in the history of the Nymex.

The spike in energy prices came as the Labor Department said the nation's unemployment rate jumped to 5.5 percent in May from 5.0 percent in April. It was the biggest monthly increase since February 1986 and the rise leaves unemployment at it highest level since October 2004. Wall Street had predicted an uptick to 5.1 percent.

The number of U.S. jobs shrank by a smaller-than-expected 49,000, but that development offered Wall Street little solace as May marked the fifth straight month of jobs losses.

But the sudden spurt in oil appeared to weigh most heavily on Wall Street. The increase, fueled in part by a weak dollar, also came after an Israeli Cabinet minister hoping to replace Prime Minister Ehud Olmert was quoted as saying Israel would attack Iran if it doesn't abandon its nuclear program.

"I think the biggest concern right now is oil and it's potential for a stagflationary environment," said Bill Knapp, investment strategist for MainStay Investments, a division of New York Life Investment Management. Stagflation occurs when stalling growth accompanies rising prices.

The headwinds facing the economy sent the Dow Jones industrial average down 394.64, or 3.13 percent, to 12,209.81; it was down by as much as 412 points at its low of the session. The decline was the worst percentage and point drop since Feb. 27, 2007, when the blue chips dropped 416.02 points, or 3.29 percent, amid concerns about souring debt and an economic slowdown.

Broader stock indicators also fell sharply Friday. The Standard & Poor's 500 index lost 43.37, or 3.09 percent, to 1,360.68, and the Nasdaq composite index fell 75.38, or 2.96 percent, to 2,474.56. The day's declines were the steepest percentage losses for the S&P 500 and the Nasdaq since Feb. 5 this year.

The Dow Jones Wilshire 5000 Composite Index, an index that measures a wide swath of the U.S market, fell 2.9 percent Friday, a paper loss for the day of about $500 billion.

Investors' nervousness was clear. The Chicago Board Options Exchange's volatility index, known as the VIX, and often referred to as the "fear index," jumped 26.5 percent Friday.

Friday's pullback came a day after the Dow jumped nearly 214 points, its largest daily point gain since April 18 and a reaction to better-than-expected sales from retailers and a dip in weekly jobless claims. The welcome economic news helped investors shrug off a more than $5-a-barrel jump in oil prices. But the advance in oil Friday made it clear to Wall Street that ascendent energy prices posed a serious threat to consumer spending and the economy.

Friday's session capped an erratic week for the markets. Stocks fell Monday and Tuesday before moving sideways Wednesday and surging Thursday. The back-and-forth moves left the Dow down 3.39 percent for the week, the S&P 500 off 2.83 percent and the Nasdaq with a loss of 1.91 percent.

Bond prices jumped Friday after the weak jobs data sent investors scurrying for safety. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.91 percent in late trading from 4.04 percent late Wednesday.

The dollar declined against other major currencies -- a move that makes each barrel of oil more expensive. Gold prices jumped.

Knapp remains skeptical of the reasons behind the run-up in oil.

"The supply demand dynamics just don't warrant where we are today. It's becoming incredibly hackneyed to say it's all coming from demand in China," he said. "I think the consensus is that something is going to come along to deflate this commodity bubble and put the stock market back on track."

And the worries about employment and oil may be intertwined.

Ethan Harris, Lehman Brothers' chief U.S. economist, contends that the jobs report helped drive oil prices higher. He said traders are worried that the increase in unemployment would leave the Federal Reserve unwilling to raise interest rates. A notion of a Fed with few options combined with comments from the European Central Bank this week on the possibility of rate hikes have hurt the dollar.

"The weaker dollar is pushing up oil prices because oil is denominated in dollars and oil sellers want to be compensated for the weaker dollar," Harris said, adding that he thinks the market's moves have been overdone.

"While I'm skeptical of the whole thing in terms of whether it makes sense logically, this is the way the market behaves. It's like a Pavlovian response. If the Fed looks soft, oil prices go up," he said.

Declining issues outnumbered advancers by more than 4 to 1 on the New York Stock Exchange, where consolidated volume came 4.69 billion shares, compared with 4.18 billion traded Thursday.

The Russell 2000 index of smaller companies fell 22.90, or 3.00 percent, to 740.37.

Wall Street's pullback weighed on Europe. Britain's FTSE 100 ended down 1.48 percent, Germany's DAX index fell 1.99 percent, and France's CAC-40 lost 2.28 percent on the day. Japan's Nikkei stock average closed up 1.03 percent; trading there ended before the release of the U.S. jobs report.

The Dow Jones industrial average ended the week down 428.51, or 3.39 percent, at 12,209.81. The Standard & Poor's 500 index finished down 39.70, or 2.83 percent, at 1,360.68. The Nasdaq composite index ended the week down 48.10, or 1.91 percent, at 2,474.56.

The Russell 2000 index finished the week down 7.91, or 1.06 percent, at 740.37.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 13,924.63, down 336.13 points, or 2.36 percent, for the week. A year ago, the index was at 15,343.15.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com
View attachment 21515


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## Lucky_Country

Bigdog commentry is unrivaled.
Always helpful and would like to thank him very much.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street closed mostly lower Tuesday after a dip in oil prices failed to keep investors from fretting over the economic effects of high energy costs.

*The NYSE DOW closed HIGHER by +9.44 points	 +0.08% on Tuesday June 10*

Sym Last........ ........Change..........
Dow	12,289.76	+9.44	 +0.08%
Nasdaq	2,448.94	-10.52	-0.43%
S&P 500	1,358.44	-3.32	-0.24%
30-yr Bond	4.7010%	+0.0800

NYSE Volume	4,565,238,500
Nasdaq Volume	2,081,431,620

*Overseas*
Bernanke's comments caused selling overnight in Asia, where the Nikkei 225 average closed 1.1 percent lower. Britain's FTSE 100 index closed down 0.86 percent, Germany's DAX index gave up 0.65 percent, and France's CAC-40 declined 0.80 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,827.30	-50.30	-0.86%
DAX	6,771.10	-44.53	-0.65%
CAC 40	4,761.08	-38.30	-0.80%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	14,021.17	-160.21	-1.13%
Hang Seng	23,375.52	-1,026.66	-4.21%
Straits Times	3,033.05	-50.97	-1.65%

http://biz.yahoo.com/ap/080610/wall_street.html
*Wall Street ends mostly lower on economic worries*
Tuesday June 10, 4:35 pm ET
By Madlen Read, AP Business Writer
*Wall Street finishes mostly lower; oil price pullback can't quash economic jitters*

NEW YORK (AP) -- Wall Street closed mostly lower Tuesday after a dip in oil prices failed to keep investors from fretting over the economic effects of high energy costs.

Crude oil's retreat below $132 a barrel did encourage some investors to search for bargains in stocks created by recent plunges. The financial sector, for one, saw strong demand after taking a beating Monday when Lehman Brothers Holdings Inc. reported a larger-than-expected quarterly loss.

But the overall stock market was volatile, with investors flummoxed about the direction of the economy. Federal Reserve Chairman Ben Bernanke late Monday said that while a substantial downturn seems unlikely, inflation risks are growing. His remarks raised expectations that the central bank might hike interest rates later this year to curb inflation; more expensive borrowing could jeopardize an economic rebound.

And although investors got some temporary relief from the oil market Tuesday, they remain concerned that high energy prices will not just aggravate inflation, but also stymie consumer spending and, in turn, economic growth.

"If you bet against the consumer over the past several years, you would've been wrong. The consumer has held up surprisingly well. However, at some point there is a breaking point. I think some people believe we may be approaching that," said Chris Colarik, a portfolio manager at Glenmede Investment Management in Philadelphia.

It is possible oil will stay high for some time. The International Energy Agency lowered its global oil demand prediction Tuesday, but also said oil-producing nations outside OPEC are having a tough time keeping up with demand.

According to preliminary calculations, the Dow Jones industrial average rose 9.44, or 0.08 percent, to 12,289.76, after moving in and out of positive territory throughout the day.

Broader stock indicators declined. The Standard & Poor's 500 index fell 3.32, or 0.24 percent, to 1,358.44, and the Nasdaq composite index fell 10.52, or 0.43 percent, to 2,448.94.

Declining issues outnumbered advancers by nearly 2 to 1 on the New York Stock Exchange, where volume came to 1.37 billion shares.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 4.10 percent from 3.99 percent late Monday.

Crude dropped $3.04 to settle at $131.31 a barrel on the New York Mercantile Exchange.

The dollar rose against other major currencies, while gold prices tumbled.

The Fed has been worried that elevated commodities prices might curb consumers' appetite to buy discretionary items. This would pose a serious threat to the U.S. economy, and to other nations' economies as well.

"There has been meaningful concern raised around the world about the uncorking of inflation," said Joseph V. Battipaglia, chief investment officer at Ryan Beck & Co.

He added that data out of Japan and Europe have been suggesting weakness in those countries, and that foreign stock markets -- particularly China's -- have been stalling. Economic slowdowns abroad, coupled with ongoing bank troubles, rising bond yields, and uncertainty over the Fed's next move, are leaving investors with little incentive to buy stocks.

"We haven't plumbed new lows yet," Battipaglia said. "But the summer can be very nasty."

Many investors have been banking on the weak dollar boosting exports and thereby keeping the economy growing. But the Commerce Department reported the U.S. trade deficit had a larger-than-expected jump in April, as higher oil prices and an increased oil consumption offset a climb in exports.

The biggest gainers among the 30 Dow companies were Coca-Cola Co., which was upgraded by an analyst Tuesday, and Citigroup Inc., which rebounded from a decline Monday. Coca-Cola rose $2.15, or 3.9 percent, to $58.01, while Citigroup rose 66 cents, or 3.4 percent, to $20.26.

The biggest loser in the Dow was Chevron Corp. which lost ground as oil prices sank. Chevron fell $2.42, or 2.4 percent, to $98.78.

The Russell 2000 index of smaller companies fell 2.63, or 0.36 percent, to 732.62.

Bernanke's comments caused selling overnight in Asia, where the Nikkei 225 average closed 1.1 percent lower. Britain's FTSE 100 index closed down 0.86 percent, Germany's DAX index gave up 0.65 percent, and France's CAC-40 declined 0.80 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street tumbled Wednesday as oil prices rebounded, fanning concerns that inflation will further pinch consumers and lead central banks to raise interest rates. The Dow Jones industrial average fell more than 200 points to its lowest close since mid-March.

The NYSE DOW closed LOWER by -205.99 points -1.68% on Wednesday June 11

Sym Last........ ........Change..........
Dow 12,083.77 -205.99 -1.68% 
Nasdaq 2,394.01 -54.93 -2.24% 
S&P 500 1,335.49 -22.95 -1.69% 
10 Yr Bond(%) 4.0730% -0.0260 

*Overseas*
Japan's Nikkei 225 average closed 1.16 percent higher. Britain's FTSE 100 index closed down 1.78 percent, Germany's DAX 30 index lost 1.78 percent, and the French CAC-40 index fell 2.10 percent.

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,723.30 -104.00 -1.78% 
DAX 6,650.26 -120.84 -1.78% 
CAC 40 4,660.91 -100.17 -2.10% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 14,183.48 +162.31 +1.16% 
Hang Seng 23,327.60 -47.92 -0.21% 
Straits Times 3,046.77 +13.72 +0.45% 

http://biz.yahoo.com/ap/080611/wall_street.html
*Stocks tumble as oil prices surge; Dow falls 205*
Wednesday June 11, 5:50 pm ET 
By Tim Paradis, AP Business Writer  
*Wall Street declines as oil rebounds, stirring concerns about inflation, higher interest rates *

NEW YORK (AP) -- Wall Street tumbled Wednesday as oil prices rebounded, fanning concerns that inflation will further pinch consumers and lead central banks to raise interest rates. The Dow Jones industrial average fell more than 200 points to its lowest close since mid-March.

Investors are uneasy about oil prices, which on Wednesday traded as high as $138.30 a barrel on the New York Mercantile Exchange before settling up $5.07 at $136.38. Having breached $139 a barrel last week, record-high crude has increasingly posed both an inflationary risk and a threat to growth.

Energy Department data Wednesday showed that gasoline supplies grew last week but that crude oil inventories fell more than analysts expected. The weekly report suggested no letup in U.S. energy demand, even as consumers adjust their budgets to accommodate gasoline that averages more than $4 a gallon nationally.

The Federal Reserve's Beige Book, which provides readings on the U.S. economy by region and arrives two weeks before the Fed's next meeting, indicated that Americans are straining under rising energy and food costs. The Fed said the economy remains "generally weak."

The findings seemed to confirm many of Wall Street's concerns.

"That certainly was not unexpected," said Janna Sampson, director of portfolio management at Oakbrook Investments. "Obviously, I don't know that the market likes hearing that, slowing spending or slowing growth and inflation at the same time."

The Dow fell 205.99, or 1.68 percent, to 12,083.77. Wednesday's close was the lowest for the blue chips since March 17, when the Dow ended at 11,972.25.

The biggest loser among the 30 Dow components was Alcoa Inc., which fell $3.40, or 8 percent, to $39.32 after a JPMorgan analyst said the aluminum producer is not planning to sell itself or spin off part of its business.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 22.95, or 1.69 percent, to 1,335.49, and the Nasdaq composite index fell 54.93, or 2.24 percent, to 2,394.01.

Bond prices rose Wednesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 4.07 percent from 4.11 percent late Tuesday.

The dollar fell against other major currencies, while gold prices rose.

Investors are worried that the spike in oil prices will dent consumer spending, which accounts for more than two-thirds of U.S. economic activity and is crucial to some investors' hopes of seeing the economy rebound from a slowdown in the second half of the year. However, the prospect of a sustained elevation of prices in oil and other commodities has dimmed some of those hopes.

"There are not a lot of positive things you can point to right now," said Michael Binger, portfolio manager at Thrivent Investment Management in Minneapolis. "We have commodity prices higher, inflation up, the prospect of the Fed raising interest rates instead of lowering, a worldwide slowdown and an economic slowdown in the U.S."

Binger noted that one weak spot on Wall Street -- the financial sector -- is now faced with a new worry of higher interest rates while still trying to navigate a tight credit market and fallout from bad bets on now-souring home loans.

"If the Fed starts to raise rates because of inflation not because the economy is good, that is not a positive on the financial stocks," he said.

Oakbrook's Sampson said her reading from the Beige Book was that there likely won't be another reduction in interest rates, but that she didn't see anything dire enough to forecast a rate hike at the Fed's next meeting, because rising prices appear to still be "fairly well confined to commodities."

"Unless we get some kind of numbers between now and the meeting at the end of the month that tell you inflation is really out of control," Sampson said she expects any rate hike is further down the line.

In corporate news, Corporate Express NV, the Dutch office supplies distributor, accepted a sweetened $2.7 billion buyout bid from U.S. office supplies retailer Staples Inc. Staples rose $1.23, or 5.3 percent, to $24.38.

Lehman Brothers Holdings Inc. fell for the fourth straight session. The company reported earlier this week that it lost more than $2.8 billion for the fiscal second quarter ended May 31 and announced plans to raise $6 billion in capital to help its balance sheet. The stock declined $3.75, or 13.6 percent, to $23.75.

The Russell 2000 index of small companies fell 14.74, or 2.01 percent, to 717.88.

Declining issues outnumbered advancers by more than 4 to 1 on the New York Stock Exchange, where consolidated volume came to 4.67 billion shares, compared with 4.51 billion shares traded Tuesday.

Overseas, Japan's Nikkei 225 average closed 1.16 percent higher. Britain's FTSE 100 index closed down 1.78 percent, Germany's DAX 30 index lost 1.78 percent, and the French CAC-40 index fell 2.10 percent.

Associated Press Business Writer Eileen AJ Connelly in New York contributed to this report.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Stocks finished higher but well off their highs after a turnaround in oil prices sapped a big rebound on Wall Street.

*The NYSE DOW closed HIGHER by -+57.81 points	+0.48% on Thursday June 12*

Sym Last........ ........Change..........
Dow	12,141.58	+57.81	+0.48%
Nasdaq	2,404.35	+10.34	+0.43%
S&P 500	1,339.87	+4.38	+0.33%
30-yr Bond	4.7640%	+0.0620

NYSE Volume	4,663,337,500
Nasdaq Volume	2,262,386,250

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,790.50	+67.20	+1.17%
DAX	6,714.52	+64.26	+0.97%
CAC 40	4,672.30	+11.39	+0.24%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,888.60	-294.88	-2.08%
Hang Seng	23,023.86	-303.74	-1.30%
Straits Times	3,020.15	-26.62	-0.87%

http://biz.yahoo.com/ap/080612/wall_street.html
*Wall Street closes up but off highs as oil rises*
Thursday June 12, 4:54 pm ET
By Tim Paradis, AP Business Writer
*Stocks post gains but end well off highs as oil prices climb, Yahoo calls off Microsoft talks*

NEW YORK (AP) -- Stocks finished higher but well off their highs after a turnaround in oil prices sapped a big rebound on Wall Street.

And word late in the session Thursday that Yahoo Inc. called off talks of any deal with Microsoft Corp. gave investors one more reason to rein in the enthusiasm that drove a rally early in the session.

Advancing oil prices, which have frequently sent stocks tumbling in recent weeks, weighed on enthusiasm that followed a Commerce Department report that retail sales rose 1 percent in May. The gain marked the biggest improvement in six months and it offered some investors hope that the government's 57 million economic stimulus checks were indeed oiling the economy.

Stocks surged more than 1 percent in the early going after the sales report and after Anheuser-Busch Cos. received a buyout bid.

But the turnaround in oil set off renewed worries about rising oil prices and overall inflation. And a management shakeup at Lehman Brothers Holdings Inc. drew fresh attention to troubles in the financial sector. Lehman, which earlier this week said it would report a quarterly loss of $2.8 billion, on Thursday ousted its chief financial officer and chief operating officer. Lehman fell $1.05, or 4.4 percent, to $22.70.

According to preliminary calculations, the Dow rose 57.81, or 0.48 percent, to 12,141.58. The Dow had been up by as much as 185 points in the session. The advance came a day after the stock market finished sharply lower because of surging oil prices. The fell almost 206 points Wednesday.

Broader stock indicators ended higher Thursday after dipping into negative territory late in the session. The Standard & Poor's 500 index rose 4.38, or 0.33 percent, to 1,339.87, while the Nasdaq composite index rose 10.34, or 0.43 percent, to 2,404.35.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average ended the week up 97.54, or 0.80 percent, at 12,307.35. The Standard & Poor's 500 index finished down 0.65, or 0.05 percent, at 1,360.03. The Nasdaq composite index ended the week down 20.06, or 0.81 percent, at 2,454.50.

Wall Street ended a turbulent week with a sharp gain Friday after government readings on inflation and a drop in oil prices eased worries about the effect of rising prices on consumers. The advance lifted the Dow Jones industrial average more than 165 points, and the three major indexes turned in a mixed performance for the week.

[B]The NYSE DOW closed HIGHER by +165.77 points	+1.37% on Friday June 13[/B]

Sym Last........ ........Change..........
Dow	12,307.35	+165.77	+1.37%
Nasdaq	2,454.50	+50.15	+2.09%
S&P 500	1,360.03	+20.16	+1.50%
30-yr Bond	4.8020%	+0.0380

NYSE Volume	4,080,474,000
Nasdaq Volume	2,111,543,750

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,802.80	+12.30	+0.21%
DAX	6,765.32	+50.80	+0.76%
CAC 40	4,682.30	+10.00	+0.21%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,973.73	+85.13	+0.61%
Hang Seng	22,592.30	-431.56	-1.87%
Straits Times	2,979.56	-40.59	-1.34%

http://biz.yahoo.com/ap/080613/wall_street.html
*Wall Street ends turbulent week with sharp gains*
Friday June 13, 6:00 pm ET
By Tim Paradis, AP Business Writer
*Stocks rise sharply as data point to stable rates; inflation rises but doesn't alarm investors*

NEW YORK (AP) -- Wall Street ended a turbulent week with a sharp gain Friday after government readings on inflation and a drop in oil prices eased worries about the effect of rising prices on consumers. The advance lifted the Dow Jones industrial average more than 165 points, and the three major indexes turned in a mixed performance for the week.

Short-term Treasury prices rose after being pounded earlier this week on fears that the Federal Reserve would be forced to raise interest rates to combat inflation.

The readings arriving Friday and gains in the dollar supported a notion that the Fed will be able to walk a middle line as it seeks to balance the well-being of the economy with pressures from rising prices. Recent drops in the dollar had contributed to higher oil prices because a weaker greenback makes each barrel more expensive.

"The news today tells us that it's not getting worse," said Linda Duessel, equity market strategist at Federated Investors. She said that while investors aren't necessarily seeing improvement in areas like inflation, they appear relieved that prices aren't running out of control and forcing the Fed to hike rates and risk sending the economy into a steep downturn.

"I think market watchers are hoping and expecting that we don't need another rate cut," she said.

The government's report that prices are rising came as no surprise to investors or consumers. The Labor Department's Consumer Price Index grew 0.6 percent last month, which was just above the 0.5 percent economists had expected. The core inflation reading, which excludes often volatile food and energy prices, edged up a more moderate 0.2 percent, as expected.

While overall prices showed their biggest one-month gain since November, the fact that the run-up seems largely contained to food and energy appeared to give investors some solace. Price spikes in all areas could make it harder for some consumers to reach into their wallets for anything more than the basics. And a pullback in consumer spending, which accounts for more than two-thirds of U.S. economic activity, could derail investors' hopes of seeing an economic recovery later in the year.

Still, the rise in energy costs is leaving some consumers in a downcast mood. The Reuters/University of Michigan preliminary reading on consumer sentiment for June fell to a near 30-year-low of 56.7 from 59.8 last month.

But the easing of some inflation concerns Friday appeared to bolster the case for the Fed to keep rates unchanged when it meets June 24-25 and to perhaps hold off on boosting rates for several meetings. Comments this week from Fed officials, however, make clear that policymakers are mindful of rising prices and the taxing effect they can have on the economy.

Friday's session saw the Dow rise 165.77, or 1.37 percent, to 12,307.35.

Broader stock indicators also rose Friday. The Standard & Poor's 500 index advanced 20.16, or 1.50 percent, to 1,360.03, and the Nasdaq composite index rose 50.15, or 2.09 percent, to 2,454.50.

Stocks rose moderately Thursday following a steep sell-off Wednesday that came as oil prices rose and stirred inflation worries. For the week, the Dow logged a 0.80 percent gain, the S&P 500 slipped 0.05 percent and the Nasdaq composite index fell 0.81 percent.

The inflation findings appeared to lend some calm to the bond markets. Bond investors fear inflation because it lowers the value of fixed-income securities, so short-term Treasurys, the most vulnerable to the effects of rising prices, moved higher.

The 2-year yield, which moves opposite its price, fell to 3.03 percent from 3.05 percent late Thursday. The yield on the benchmark 10-year Treasury note, however, rose to 4.26 percent from 4.22 percent. The yield on the 30-year long bond rose to 4.80 percent from 4.76 percent.

The dollar rose against other major currencies, while gold prices fell.

Oil prices fell, following a sharp rebound in the previous session. A barrel of light, sweet crude declined $1.88 to settle at $134.86 on the New York Mercantile Exchange.

Michael Strauss, chief economist at Commonfund, said the advances seen Thursday and Friday belie some of the unease over inflation. He said Wall Street remains worried that inflation, while somewhat in check now, could pop in the coming months.

"Behind the scenes of the euphoria ... they're still very nervous about financial market conditions and there still very nervous about economic conditions," he said.

Strauss expects Wall Street's volatility will continue. He said investors will looking to a reading due Tuesday on inflation at the wholesale level for indications on whether some businesses will be able to continue to refrain from passing some rising costs to consumers.

"We're still going to trade with the inverse jitters of the energy market," he said, predicting that stocks will still likely take a hit if oil prices rise.

In corporate news, Anheuser-Busch Cos. is holding preliminary talks with rival Grupo Modelo SAB, according to a report in The Wall Street Journal. The maker of Budweiser, Bud Light and other brands has received an unsolicited $46 billion bid from Belgian brewer InBev SA. Anheuser-Busch fell 28 cents to $61.12.

Lehman Brothers Holdings Inc. rose $3.11, or 13.7 percent, to $25.81 following reports that Chief Executive Richard Fuld is looking for outside capital, possibly from a sovereign wealth fund or a U.S. investor. The investment bank's shares fell sharply during the week after the company reported a nearly $3 billion second-quarter loss. The company also ousted its chief financial officer and chief operating officer.

Yahoo Inc. is now turning to rival Google Inc. to help squelch a rebellion among its shareholders who believe it should have accepted Microsoft Corp.'s $47.5 billion buyout offer while it was still available last month. Late Thursday, Yahoo announced talks with Microsoft had ended with no deal.

Yahoo fell 5 cents to $23.47, Google rose $18.56, or 3.4 percent, to $571.51 and Microsoft rose 83 cents, or 2.9 percent, to $29.07.

Advancing issues outnumbered decliners by about 3 to 1 on the New York Stock Exchange, where consolidated volume came to 4.59 billion shares, essentially flat with Thursday.

The Russell 2000 index of smaller companies rose 13.77, or 1.91 percent, to 733.61.

Overseas, Japan's Nikkei 225 average closed 0.61 percent higher. Britain's FTSE 100 index closed up 0.21 percent, Germany's DAX 30 index rose 0.76 percent, and the French CAC-40 index advanced 0.21 percent.

The Dow Jones industrial average ended the week up 97.54, or 0.80 percent, at 12,307.35. The Standard & Poor's 500 index finished down 0.65, or 0.05 percent, at 1,360.03. The Nasdaq composite index ended the week down 20.06, or 0.81 percent, at 2,454.50.

The Russell 2000 index finished the week down 6.76, or 0.91 percent, at 733.61.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 13,889.66, down 34.97 points, or 0.25 percent, for the week. A year ago, the index was at 15,297.52.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

My aplogoes for being out of action for over two weeks.
-- blame change from Optus to Telstra and being very busy

It is now down from Dow 12,307.35 to 11,382.26 since my last poting on June 13!

Wall Street began the third quarter with an erratic session and modest gain Tuesday after a mix of news made it clear the country is still deep in economic problems but may have some positive trends -- including some better than expected sales for General Motors Corp.

Prices rose early in the session, then turned sharply lower for much of the day and then recovered in late afternoon. The uneven performance wasn't surprising -- some bargain hunting was to be expected after a dismal first half, and in particular, a dismal June.

*The NYSE DOW closed HIGHER by +32.25 points +0.28% on Tuesday July 1*

Sym Last........ ........Change..........
Dow 11,382.26 +32.25 +0.28% 
Nasdaq 2,304.97 +11.99 +0.52% 
S&P 500 1,284.91 +4.91 +0.38% 
30-yr Bond 4.5440% +0.0130 

NYSE Volume 5,893,250,500 
Nasdaq Volume 2,672,255,000 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,479.90 -146.00 -2.60% 
DAX 6,315.94 -102.38 -1.60% 
CAC 40 4,341.21 -93.64 -2.11% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,463.20 -18.18 -0.13% 
Hang Seng 22,102.01 +59.66 +0.27% 
Straits Times 2,906.79 -40.75 -1.38% 

http://biz.yahoo.com/ap/080701/wall_street.html
*Wall Street zigzags on first day of 3rd quarter*
Tuesday July 1, 5:35 pm ET 
By Joe Bel Bruno, AP Business Writer  
*Stocks zigzag amid concerns about oil prices, downbeat manufacturing data, mixed auto sales *

NEW YORK (AP) -- Wall Street began the third quarter with an erratic session and modest gain Tuesday after a mix of news made it clear the country is still deep in economic problems but may have some positive trends -- including some better than expected sales for General Motors Corp.

Prices rose early in the session, then turned sharply lower for much of the day and then recovered in late afternoon. The uneven performance wasn't surprising -- some bargain hunting was to be expected after a dismal first half, and in particular, a dismal June.

The session brought more discouraging news for investors: Oil rose again toward record high levels, a report showed that U.S. manufacturers are still under duress and Ford Motor Co. said its June sales tumbled. This all raised the market's fears that the economy -- still reeling from soaring commodities prices and the lingering credit crisis -- is not any closer to turning around.

Yet GM's sales, while falling 18.2 percent during June, came in above analysts' forecasts, retaining Detroit's lead over Toyota Motor Corp. and sending the automaker's shares higher. GM's news was in sharp contrast to the dismal results reported earlier by Ford Motor Co., where a 27.9 percent plunge in sales for the month sent the company's stock to its lowest point in decades.

And while the Institute for Supply Management had an overall disappointing report on manufacturing in June, it also reported strong exports for U.S. factories.

"This market is craving anything positive," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. He said because the market has sold off so much in recent days, traders took GM's weak but better-than-expected sales as a buying opportunity

The Dow Jones industrial average, down more than 150 points earlier, rose 32.25, or 0.28 percent, to 11,382.26, while the Standard & Poor's 500 index rose 4.91, or 0.38 percent, to 1,284.91. The Nasdaq composite gained 11.99, or 0.52 percent, to 2,304.97.

"A bounce like this wasn't unexpected," said Joseph V. Battipaglia, chief investment officer at Ryan Beck & Co. He said GM's sales beating Toyota gave the Dow a lift, as did a late-day partial pullback in oil prices.

Oil settled at a new record of $140.97 a barrel on the New York Mercantile Exchange after rising above $143 a barrel earlier as worries about tight supply and mounting tensions in the Middle East continued.

"We've been dancing to the tune to oil prices," Battipaglia said.

Bonds also bounced up and down as investors pulled money out of stocks, seeking the safety of government debt, and then changed their minds. The yield on the benchmark 10-year Treasury note rose to 4.01 percent from late Monday's 3.98 percent.

Sam Stovall, chief investment strategist for Standard & Poor's Equity Research, said investors may be wondering if the market has sold off too much even in the face of a litany of bad economic news. "Maybe it's just at this kind of a juncture that everything looks so bad, who's left to sell?"

The market may also have gotten a technical kick upward, when the S&P 500 fell to 1,260.68, its lowest point since July 2006. When the index, the one most closely followed by market professionals, falls to a target level set by traders, buyers tend to come back to stocks.

The toll higher energy prices is taking on the economy was evident in the ISM report. The purchasing managers' trade group said manufacturing unexpectedly grew in June, but a closer look at the report showed that the prices companies paid for fuel and materials continued to grow as demand shrank. The overall gain came on higher exports, and, taken as a whole, the ISM report turned out to be a disappointment.

Investors were also disappointed by another drop in construction spending due to the continuing slump in housing. The Commerce Department said construction spending fell 0.4 percent, slightly less than economists' forecasts.

But GM's sound beating of Toyota to retain its traditional U.S. sales lead was reassuring to a market starved for good news, and that lifted stocks off their lows and gave them a modest gain.

Still, the market is nervous about what's to come when companies start issuing earnings and outlooks in the coming weeks. It is widely expected that those results will reflect the impact of higher oil, and the fact that crude continues to climb is pointing to even more economic troubles in the coming months.

During the spring, the market had hopes for a better second half. But oil and the continuing stream of credit-related problems at financial companies erased those hopes during June, a month that wiped out more than 10 percent of the Dow's value.

"It feels like we continue to stretch and stretch until something snaps, and that will continue to happen until we do something about oil," said Jack Ablin, chief investment officer at Harris Private Bank. "This is a test of wills between oil and stocks, and hopefully we're not on some kind of collision course."

Investors might get some more direction in upcoming economic reports like Thursday's June employment numbers.

Ford fell 10 cents to $4.71, and hit a miltiyear low of $4.41 during the session, after the automaker reported that sales declined by a weaker-than-expected 28 percent in June. However, GM rose 25 cents to $11.75 after it reported sales rose well above expectations.

Lehman Brothers Holdings Inc. shares rose $1.15, or 5.8 percent, to $20.96 after a steep decline on Monday. The nation's fourth-largest investment bank had been the target of rumors that it might sell itself to Britain's Barclays PLC at a discount price.

Declining issues led advancers by just under a 2 to 1 margin on the New York Stock Exchange, where consolidated volume came to 5.75 billion shares, up from Monday's 4.91 billion.

The Russell 2000 index of smaller companies added 1.93, or 0.28 percent, to 691.59.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street resumed its sell-off Wednesday after oil hit a new record and a bearish analyst report renewed concerns that General Motors Corp. could run out of cash.

The stock market's pullback, which accelerated in the final hours of the week's last full trading session, left the Dow Jones industrial average officially in bear market territory, with the blue chips having fallen more than 20 percent from their October highs.

The NYSE DOW closed LOWER by -166.75 points -1.46% on Wednesday July 2

Sym Last........ ........Change..........
Dow 11,215.51 -166.75 -1.46% 
Nasdaq 2,251.46 -53.51 -2.32% 
S&P 500 1,261.52 -23.39 -1.82% 
30-yr Bond 4.5030% -0.0410 

NYSE Volume 5,318,103,500 
Nasdaq Volume 2,460,014,250 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,426.30 -53.60 -0.98% 
DAX 6,305.42 -10.52 -0.17% 
CAC 40 4,296.48 -44.73 -1.03% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,286.37 -176.83 -1.31% 
Hang Seng 21,704.45 -397.56 -1.80% 
Straits Times 2,906.23 -0.56 -0.02% 

http://biz.yahoo.com/ap/080702/wall_street.html
*Stocks drop after new record for oil prices*
Wednesday July 2, 5:55 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks post sharp decline after oil price surge; GM falls 15 percent on bearish report *

NEW YORK (AP) -- Wall Street resumed its sell-off Wednesday after oil hit a new record and a bearish analyst report renewed concerns that General Motors Corp. could run out of cash.

The stock market's pullback, which accelerated in the final hours of the week's last full trading session, left the Dow Jones industrial average officially in bear market territory, with the blue chips having fallen more than 20 percent from their October highs.

Oil surged to new records above $144 a barrel as the government reported a bigger-than-expected drop in U.S. supplies and as investors worried about tensions in the Middle East.

Fears that GM could go so far as to declare bankruptcy only added to investors' unease. The stock closed below the $10 mark for the first time since September 1954 when Dwight Eisenhower was president. Investors shrugged off better-than-expected sales figures from June and fretted about the company's cash needs.

The Dow fell 166.75, or 1.46 percent, to 11,215.51, the lowest close since August 2006. It now stands 20.82 percent below its Oct. 9, 2007 record of 14,164.53. The last bear market ended in October 2002.

Broader stock indicators also posted big losses after showing gains for much of the morning. The Standard & Poor's 500 index fell 23.39, or 1.82 percent, to 1,261.52, while the technology-laden Nasdaq composite index fell 53.51, or 2.32 percent, to 2,251.46.

The S&P is just shy of the 20 percent pullback that signals a bear market. While the Nasdaq is also in bear territory, it hit that mark in March, moved higher and has now returned to a bear level.

Bond prices rose as investors exited stocks. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.96 percent from 4.01 percent late Tuesday. The dollar was mixed against other major currencies, while gold prices rose.

Wall Street is worried that rising energy prices are causing consumers to pare their spending in other areas.

Gasoline prices hit a fresh high ahead of the July 4th holiday weekend, increasing half a penny to a new national record of $4.092 a gallon on average, according to AAA, the Oil Price Information Service and Wright Express.

Crude oil hit a record $144.32 a barrel in after-hours trading after reaching a record settlement of $143.57, an advance of $2.60 on the New York Mercantile Exchange. The Energy Department reported Wednesday that U.S. crude oil supplies fell more than expected last week.

Businesses are also struggling with elevated energy costs, and demand is weakening for autos, heavy machinery and steel. The Commerce Department said Wednesday that factory orders rose by 0.6 percent in May. The result was in line with a consensus of Wall Street economists surveyed by Thomson Financial, but was much smaller than the gain of 1.3 percent for April.

Traders were cautious ahead of the three-day weekend. The stock market closes three hours early, at 1 p.m. EDT, on Thursday before the Fourth of July holiday on Friday.

"It's your typical holiday week for the summer time," said Stephen Carl, principal and head of equity trading at The Williams Capital Group in New York. "I think we're all familiar with the economic problems out there," he said, and given how weak stocks have been, the market is "staying the course."

Lately, that course has been a downward one. Though stocks mostly posted modest gains in the first two sessions of the week, Wall Street saw a steep sell-off last week. The Dow lost 4.2 percent by Friday while the S&P and Nasdaq fell more than 3 percent amid concerns about the ability of the economy to move ahead with energy prices racing higher.

While Thursday's session is a shortened one, it could bring added insights into the well-being of consumers and the overall economy. The government's June employment report is due and is expected to show the sixth month of jobs losses but a slight improvement in the unemployment rate. Employment is crucial because consumer spending accounts for more than two-thirds of U.S. economic activity.

With concerns about rising energy prices, falling home values and a jittery Wall Street, Harry Clark, president of Clark Capital Management in Philadelphia, contends that many average investors have already pulled their money from the markets.

"I don't think this is an investors' market right now," he said. "I think there is a lot of money on the sidelines and once you get some kind of good catalyst -- anything to make the market look better -- they'll come rushing into the market."

Clark said Thursday's employment report could show that the economy is holding up better than some investors have predicted.

"I still think it's going to be negative but not as negative as people are expecting," he said. "Things aren't as bad as people think they are. We're talking ourselves into a market decline and a recession."

In corporate news, GM fell in part after a Citi Investment Research analyst cited liquidity concerns in slashing his price target on GM stock to $14 from $21. While he said the company isn't likely facing an immediate cash shortage, the concerns from 2008-09 have grown in recent months. The stock fell $1.77, or 15 percent, to $9.98 a day after jumping 12 percent on a better-than-expected sales report.

Microsoft Corp. has approached other media companies about a bid to acquire Yahoo Inc., according to a report in The Wall Street Journal. Yahoo rose 68 cents, or 3.4 percent, to $20.88, while Microsoft fell 99 cents, or 3.7 percent, to $25.88.

Blockbuster Inc. said it is withdrawing its proposal to buy Circuit City Stores Inc. Blockbuster said the proposed deal, at a price of more than $1 billion, didn't make sense because of market conditions. Blockbuster jumped 14 cents, or 5.6 percent, to $2.65, while Circuit City fell 23 cents, or 9 percent, to $2.32.

The Russell 2000 index of smaller companies fell 19.25, or 2.78 percent, to 672.34.

Declining issues outpaced advancers by nearly 3 to 1 on the New York Stock Exchange, where consolidated volume came to 5.15 billion shares, compared with 5.75 billion shares traded Tuesday.

Overseas, Japan's Nikkei stock average fell 1.31 percent. Britain's FTSE 100 fell 0.98 percent, Germany's DAX index slipped 0.17 percent, and France's CAC-40 fell 1.03 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*NYSE is closed tomorrow for July 4 holiday*

The Dow Jones industrial average ended the week down 57.97, or 0.51 percent, at 11,288.54. The Standard & Poor's 500 index finished down 15.48, or 1.21 percent, at 1,262.90. The Nasdaq composite index ended the week down 70.25, or 3.03 percent, at 2,245.38.

Wall Street capped a shortened trading week with a mixed finish Thursday after some uneven economic data: news of a contraction in the nation's services sector and a tame reading on employment. But stocks still had their third dismal week in a row, with the major indexes again posting losses as worries about rising oil prices and the fallout from the credit crisis dogged the market.

The NYSE DOW closed HIGHER by +73.03 points +0.65% on Thursday July 3

Sym Last........ ........Change..........
Dow 11,288.54 +73.03 +0.65% 
Nasdaq 2,245.38 -6.08 -0.27% 
S&P 500 1,262.90 +1.38 +0.11% 
30-yr Bond 4.5310% +0.0280 

NYSE Volume 3,281,819,000 
Nasdaq Volume 1,432,670,620 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,476.60 +50.30 +0.93% 
DAX 6,353.74 +48.32 +0.77% 
CAC 40 4,343.99 +47.51 +1.11% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,265.40 -20.97 -0.16% 
Hang Seng 21,242.78 -461.67 -2.13% 
Straits Times 2,880.45 -25.78 -0.89% 

http://biz.yahoo.com/ap/080703/wall_street.html
*Stocks end mixed following jobs, services data*
Thursday July 3, 5:23 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks end mixed after report shows contraction in service sector; GM lifts Dow industrials *

NEW YORK (AP) -- Wall Street capped a shortened trading week with a mixed finish Thursday after some uneven economic data: news of a contraction in the nation's services sector and a tame reading on employment. But stocks still had their third dismal week in a row, with the major indexes again posting losses as worries about rising oil prices and the fallout from the credit crisis dogged the market.

Investors hoping for some guidance from two key economic reports got very little. The Institute for Supply Management said its index of service sector activity fell to 48.2 from 51.7 in May; the reading touched off more misgivings about the well-being of the economy.

The look at the service sector followed a largely as-expected report from the Labor Department, which said the nation's unemployment rate held steady at 5.5 percent last month. The government also reported that 62,000 jobs were lost in June, but that number was close to economists' forecasts.

The jobs report did appear to assuage some worries that the snapshot of the labor market would be more grim. Employment numbers are critical because consumers who are out of work or are nervous about losing their job are likely to cut their spending. They've already become cautious because of higher food and energy prices.

Christopher Molumphy, chief investment officer at Franklin Templeton fixed income group, said the employment figures don't point to a labor market in distress. "We are not seeing data that would be consistent with recessionary conditions," he said.

Molumphy also said the session's somewhat skewed trading was typical of a shortened session ahead of a holiday. Trading ended three hours early at 1 p.m. Eastern time, and the market was closing Friday for the Fourth of July.

"We try not to overanalyze some of the moves because I think you can easily do that," he said.

The Dow rose 73.03, or 0.65 percent, to 11,288.54.

Broader stock indicators ended mixed. The Standard & Poor's 500 index rose 1.38, or 0.11 percent, to 1,262.90, and the Nasdaq composite index fell 6.08, or 0.27 percent, to 2,245.38.

Declining issues outnumbered advancers by about 2 to 1 on the New York Stock Exchange, where consolidated volume came to 3.19 billion shares.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.98 percent from 3.96 percent late Wednesday.

The dollar was mixed against other major currencies, while gold prices fell.

Oil prices dominated trading during the week as they have for months. Light, sweet crude settled up $1.72 at a record $145.29 per barrel on the New York Mercantile Exchange after trading as high as $145.85 -- also a new record.

Nearly a month ago, on June 6, oil prices logged their biggest-ever one-day advance with a gain of nearly $11 a barrel. The rise that day to more than $138 a barrel and a nearly 400-point drop in the Dow at the time owed in part to comments from a Morgan Stanley analyst that oil would hit $150 a barrel by the Fourth of July.

While oil hasn't yet touched that level, rising prices have continued to weigh on stocks. Oil's rise Wednesday after two uneventful days of trading helped send the Dow down by more than 150 points and left the blue chips and the Nasdaq in bear market territory, where they remained by Thursday's close. The Standard & Poor's 500 index remains just shy of the 20 percent decline from its high that signals a bear market.

For the week, the Dow lost 0.51 percent, the S&P 500 fell 1.21 percent and the technology-laden Nasdaq declined 3.03 percent. The moves were milder than in the prior week, when stocks showed steep losses largely because of concerns about the surge in energy prices.

Dan Laufenberg, chief economist at Ameriprise Financial, said the modest growth the economy is managing to show will likely fade by next year.

"Unless you get some kind of relief on energy prices it looks the third quarter is going to be fairly weak as well," he said.

Thursday's employment report, while greeted with some relief, also brought some troubling insights. The nation's job losses in April and May turned out to be steeper than had been thought after revisions. A separate report showed that the number of newly laid off people seeking unemployment benefits jumped last week.

Investors are nervous about the strength of the job market in part because consumer spending accounts for more than two-thirds of U.S. economic activity. Consumers who are out of work or are nervous about losing their job are likely to trim their spending.

Investors will be looking for fresh insights next week with the arrival of corporate quarterly numbers. Aluminum producer Alcoa Inc., a component of the Dow industrials, is expected to unofficially start earnings season with a report due Tuesday. Monthly sales reports are also due from retailers.

The Russell 2000 index of smaller companies fell 6.56, or 0.98 percent, to 665.78.

Overseas, Japan's Nikkei stock average fell 0.16 percent. Britain's FTSE 100 rose 0.95 percent, Germany's DAX index rose 0.77 percent, and France's CAC-40 rose 1.11 percent.

The Dow Jones industrial average ended the week down 57.97, or 0.51 percent, at 11,288.54. The Standard & Poor's 500 index finished down 15.48, or 1.21 percent, at 1,262.90. The Nasdaq composite index ended the week down 70.25, or 3.03 percent, at 2,245.38.

The Russell 2000 index finished the week down 32.36, or 4.64 percent, at 665.78.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 12,815.47, down 265.55 points, or 2.03 percent, for the week. A year ago, the index was at 15,449.03.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street lost more ground in extremely volatile trading Monday, as investors recoiled at a cautious economic outlook from a Federal Reserve official and the possibility of more financial troubles of Fannie Mae and Freddie Mac.

The market found only slight solace in retreating oil prices.

The NYSE DOW closed LOWER by  -56.58 points -0.50%  on Monday July 7

Sym Last........ ........Change..........
Dow 11,231.96 -56.58 -0.50% 
Nasdaq 2,243.32 -2.06 -0.09% 
S&P 500 1,252.31 -10.59 -0.84% 
10 Yr Bond(%) 3.9300% -0.0430 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,512.70 +99.90 +1.85% 
DAX 6,395.75 +123.54 +1.97% 
CAC 40 4,342.59 +76.59 +1.80% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,360.04 +122.15 +0.92% 
Hang Seng 21,913.06 +489.24 +2.28% 
Straits Times 2,934.12 +41.58 +1.44% 

http://biz.yahoo.com/ap/080707/wall_street.html
*Stocks fall on worries about financial sector*
Monday July 7, 5:39 pm ET 
By Madlen Read, AP Business Writer  
*Stock market declines on worries about financial sector even as oil prices pull back sharply *

NEW YORK (AP) -- Wall Street lost more ground in extremely volatile trading Monday, as investors recoiled at a cautious economic outlook from a Federal Reserve official and the possibility of more financial troubles of Fannie Mae and Freddie Mac.

The market found only slight solace in retreating oil prices.

San Francisco Federal Reserve President Janet Yellen said in a speech the financial markets remained fragile, and that it will take time for conditions to improve. "My expectation is that market functioning will improve markedly by 2009," she said. "But things could get worse before they get better."

The comments added to concerns raised in a note by Lehman Brothers analysts that Fannie and Freddie may need to raise more capital as the credit crisis continues. Worries about the ailing financial sector deflated a stock rally early in the day that had been fueled by a $4-a-barrel pullback in oil prices.

The market managed, however, to rebound from its lows of the day, when the Dow Jones industrial average sank to its worst level since mid-August of 2006. Some investors bought back into the market to take advantage of the low prices.

"The market is so skittish and so scared that half the people believe that this is just another leg of the down market and the other half believes that we're forming a bottom," said Frank Ingarra, assistant portfolio manager at Hennessy Funds.

The Dow fell 56.58, or 0.50 percent, to 11,231.96. Over the course of the day, the blue chips rallied, tumbled, rebounded, and then fell once more. The Dow fell as much as 167.80 to 11,120.74 -- its lowest trading level since Aug. 15, 2006 -- but was also up more than 100 in early trading.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 10.59, or 0.84 percent, to 1,252.31, and the Nasdaq composite index fell 2.06, or 0.09 percent, to 2,243.32.

The technology-dominated Nasdaq got a modest boost from Yahoo Inc., which rose $2.56, or 12 percent, to $23.91 after Microsoft Corp. expressed support for investor Carl Icahn's effort to oust Yahoo's board next month. Microsoft said a successful rebellion would encourage it to renew its takeover bid for Yahoo, or negotiate another deal.

Light, sweet crude fell $3.92 to close at $141.37 a barrel on the New York Mercantile Exchange, after falling by more than $5 a barrel at times.

The retreat did little to assuage fears about high energy prices, however. Wall Street, which has been hurtling stocks lower for the past few weeks, remains fearful that consumers are trimming their spending to pay for gasoline. With consumer spending accounting for more than two-thirds of U.S. economic activity, a pullback could create big ripples.

Government bonds rose. The 10-year Treasury note's yield, which moves opposite its price, fell to 3.91 percent from 3.98 percent last Thursday.

Volatility on Wall Street, as measured by the Chicago Board Options Exchange's volatility index, on Monday briefly hit its highest point since March, when worries about the financial markets peaked during the buyout of Bear Stearns Cos.

"It indicates that there was more fear entering the market than there had been in previous weeks," said Todd Salamone, director of trading and vice president of research at Schaeffer's Investment Research.

Fannie Mae fell $3.04, or 16.2 percent, to $15.74 and Freddie Mac fell $2.59, or 17.9 percent, to $11.91, after Lehman Brothers analysts said new accounting rules could require Fannie to raise $46 billion more capital and Freddie to raise $29 billion.

Citigroup Inc., JPMorgan Chase & Co., and Bank of America Corp. also saw their shares fall ahead of their earnings reports later this month. Citi fell 42 cents, or 2.5 percent, to $16.40; JPMorgan dropped $1.27, or 3.6 percent, to $34.04; and Bank of America fell 87 cents, or 3.9 percent to $21.53.

In addition to financials, Merck & Co. dragged on the Dow, falling $1.85, or 4.8 percent, to $36.60. A UBS analyst downgraded the drug maker, citing slowing sales of its HPV treatment Gardasil.

Meanwhile, General Motors Corp. is considering cutting more white-collar jobs and getting rid of some brands, according to a person familiar the company's discussions. The person asked not to be identified because no decisions have been made. GM shares, which recently sank to all-time lows, rose 12 cents to $10.24.

Investors haven't been as optimistic lately about the prospects for an economic recovery in the second half of 2008 as they once were. The Dow has fallen the last three weeks while the S&P 500 index and the Nasdaq have logged five straight weeks of declines. With drops of more than 20 percent from their October highs, the Dow and the S&P 500 entered bear market territory last week as rising oil stirred inflation concerns.

Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York, said some negative technical indicators on Thursday presaged the market's weakness Monday. Notably, there were no companies that set 52-week highs on the New York Stock Exchange on Thursday, Fullman said. "It's unusual to see a drop-off like that."

On Monday, the dollar traded mixed against other major currencies, while gold prices fell.

Declining issues outnumbered advancers by more than 2 to 1 on the New York Stock Exchange. Consolidated volume came to 5.21 billion shares, up from 3.19 billion shares on Thursday.

The Russell 2000 index of smaller companies fell 7.52, or 1.13 percent, to 658.26.

Overseas, Japan's Nikkei stock average rose 0.92 percent. Britain's FTSE 100 rose 1.85 percent, Germany's DAX index rose 1.97 percent and France's CAC-40 advanced 1.80 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Stock markets overseas slid Tuesday before Wall Street's turnaround. 

Wall Street finished sharply higher Tuesday as oil prices dropped for the second straight day and investors were encouraged by the possibility of more help for the ailing financial system. The Dow Jones industrials gained more than 150 points, and all the major indexes were up more than 1 percent.

The NYSE DOW closed HIGHER by +152.25 points +1.36% on Tuesday July 8

Sym Last........ ........Change..........
Dow	11,384.21	+152.25	+1.36%
Nasdaq	2,294.44	+51.12	+2.28%
S&P 500	1,273.70	+21.39	+1.71%
30-yr Bond	4.4560%	-0.0480

NYSE Volume	6,088,251,500
Nasdaq Volume	2,532,076,250

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,440.50	-72.20	-1.31%
DAX	6,304.41	-91.34	-1.43%
CAC 40	4,275.61	-66.98	-1.54%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,033.10	-326.94	-2.45%
Hang Seng	21,220.81	-692.25	-3.16%
Straits Times	2,886.62	-47.50	-1.62%

http://biz.yahoo.com/ap/080708/wall_street.html
*Stocks rise on decline in oil, Bernanke talk*
Tuesday July 8, 5:51 pm ET
By Madlen Read, AP Business Writer
*Stocks move higher as oil falls again, Fed considers extending lending efforts*

NEW YORK (AP) -- Wall Street finished sharply higher Tuesday as oil prices dropped for the second straight day and investors were encouraged by the possibility of more help for the ailing financial system. The Dow Jones industrials gained more than 150 points, and all the major indexes were up more than 1 percent.

Crude prices tumbled $5.33 to settle at $136.04 a barrel on the New York Mercantile Exchange, bringing oil's two-day drop to more than $9. Other commodities also pulled back.

Speeches by Federal Reserve Chairman Ben Bernanke, Treasury Secretary Henry Paulson and JPMorgan Chase & Co. Chief Executive Jamie Dimon gave the market some reassurance about the financial sector. Investors have been concerned this week about the health of government-backed lenders Fannie Mae and Freddie Mac; the two companies' troubles helped send prices lower on Monday, but they also helped lead the rebound Tuesday.

The market was relieved to hear Bernanke say in a speech the central bank might extend its lending efforts to investment banks; the Fed began allowing the big companies to borrow after the near-collapse of Bear Stearns Cos. earlier this year. At the Federal Deposit Insurance Corp.'s forum on mortgage lending, where Bernanke spoke, Dimon said "the future is very, very bright," but that "I do think we have some very serious issues to face."

Paulson, meanwhile, made an upbeat assessment of the government's efforts to prevent the volume of mortgage foreclosures that touched off the credit crisis last year, although he also said he expects foreclosures to continue.

The Treasury secretary also said he was pleased at steps taken by Freddie Mac and Fannie Mae to raise money: "Fresh capital will strengthen their balance sheets and allow them to provide additional mortgage capital, as they balance their responsibilities to their mission and to their shareholders."

All that helped stocks stage a late-afternoon rebound after choppy trading throughout most of the session.

"A lot of money is flowing into the previous laggards," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research, pointing to financials, health, and housing stocks. "It really seems like an oversold bounce."

The Dow rose 152.25, or 1.36 percent, to 11,383.21, after moving in and out of positive territory. It was the biggest gain for the blue chips since June 13.

The advance left the Dow down 19.6 percent from its October high -- just shy of the 20 percent threshold that signals a bear market. The Dow and the Standard & Poor's 500 index have at times moved into bear territory in recent weeks, and it's likely that fluctuations will again take them there until Wall Street is able to put together a sustainable rally.

Broader stock indicators rose as well. The S&P 500 rose 21.39, or 1.71 percent, to 1,273.70, while the Nasdaq composite index rose 51.10, or 2.28 percent, to 2,294.42.

Bond prices edged higher Tuesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.89 percent from 3.91 percent late Monday.

A drop in commodities prices appeared to help quiet some of Wall Street's fears about inflation. The drop came as a possible signal that a slowing global economy is damping demand for energy and raw materials. Gold, silver, copper, corn and most other agriculture futures sank as oil fell. A rise in the dollar rose against other major currencies also made commodities less expensive.

Concerns about the housing market had weighed on investors the past few sessions. On Tuesday, the National Association of Realtors said Tuesday that pending sales of U.S. homes fell by 4.7 percent in May from the previous month. The worsening housing market not only stifles consumer spending, but also hurts the chances of a recovery at the banks that make loans and are invested in risky mortgage debt.

But by afternoon, the market's mood was lifting.

Shares of Fannie Mae rose $1.88, or 11.9 percent, to $17.62; and Freddie Mac jumped $1.55, or 13 percent, to $13.46. Both mortgage lenders would need capital if a new accounting rule is enacted that would force them to put investments used as a main revenue driver off their balance sheets.

"There was just a little light today that things might be better, a real relief bounce," said Ryan Larson, senior equity trader at Voyageur Asset Management. "Things have been beaten up so bad the past couple of weeks that investors are finding a little bit of value down here."

Anemic economic conditions led Office Depot Inc. to forecast a nearly 10 percent drop in quarterly sales at the office supplies retailer's North American stores that have been open at least a year. Office Depot shares fell $3.29, or 31 percent, to $7.12.

EMC Corp., tumbled $1.75, or 11.5 percent, to $13.39. The company is the majority owner of VMware, whose co-founder and CEO is leaving the company.

Investors could find further room for optimism Wednesday. Aluminum producer Alcoa Inc. posted stronger-than-expected second-quarter earnings. While profits fell 24 percent from costs tied to raw materials and facility outages, the decline wasn't as steep as Wall Street had expected. Its stock rose in after-hours trading after falling $1.06 to $32.33 in regular trading, following other commodities producers lower.

The Russell 2000 index of smaller companies rose 24.46, or 3.72 percent, to 682.72.

Advancing issues outnumbered decliners by a 2 to 1 basis on the New York Stock Exchange, where consolidated volume came to 5.92 billion shares compared with 5.21 billion shares Monday.

Stock markets overseas slid Tuesday before Wall Street's turnaround. Japan's Nikkei stock average finished down 2.45 percent, Britain's FTSE 100 fell 1.31 percent, Germany's DAX index fell 1.43 percent and France's CAC-40 fell 1.54 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street stumbled through another volatile session but ended with a respectable gain Thursday after a multibillion dollar deal between Dow Chemical Co. and rival Rohm and Haas Co. helped offset concerns about the financial sector and energy costs.

The NYSE DOW closed HIGHER by +81.58 points +0.73%  on Thursday July 10

Sym Last........ ........Change..........
Dow 11,229.02 +81.58 +0.73% 
Nasdaq 2,257.85 +22.96 +1.03% 
S&P 500 1,253.39 +8.71 +0.70% 
10 Yr Bond(%) 3.8110% 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,406.80 -122.80 -2.22% 
DAX 6,305.00 -81.46 -1.28% 
CAC 40 4,231.56 -108.10 -2.49% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,067.21 +15.08 +0.12% 
Hang Seng 21,821.78 +15.97 +0.07% 
Straits Times 2,901.58 -16.04 -0.55% 

http://biz.yahoo.com/ap/080710/wall_street.html
*Wall Street gains amid financial worries*
Thursday July 10, 6:28 pm ET 
By Tim Paradis, AP Business Writer  
*Wall Street notches gain after Dow Chemical deal, but worries remain about financials, oil *

NEW YORK (AP) -- Wall Street stumbled through another volatile session but ended with a respectable gain Thursday after a multibillion dollar deal between Dow Chemical Co. and rival Rohm and Haas Co. helped offset concerns about the financial sector and energy costs.

Shares of mortgage finance companies Fannie Mae and Freddie Mac skidded lower on worries they will be forced to sell more new shares than anticipated to compensate for losses from the housing slump. Several retail banks and investment banks also dropped, particularly Lehman Brothers Holdings Inc.

The declines in financials came after Treasury Secretary Henry Paulson told Congress Wall Street can't expect the government to bail out troubled financial companies.

"For market discipline to effectively constrain risk, financial institutions must be allowed to fail," Paulson said.

Meanwhile, crude oil prices rebounded by more than $5 to more than $141 a barrel.

Though investors found a reason to buy after Dow Chemical's $15 billion all-cash acquisition of the special chemicals maker Rohm and Haas, they are cautious ahead of quarterly earnings, in particular financial results due next week.

"Investors lack real clarity from the banks," said Marc Pado, U.S. market strategist at Cantor Fitzgerald in New York. "It's this uncertainty that keeps investors out of the market so what you get is a situation where you're reacting to news. There are a lot of crosscurrents."

The Dow Jones industrial average finished up 81.58, or 0.73 percent, at 11,229.02. Oil's resurgence back above $141 a barrel briefly pulled the Dow into negative territory in afternoon trading.

Broader stock indicators also finished higher. The Standard & Poor's 500 index gained 8.70, or 0.70 percent, to 1,253.39, while the Nasdaq composite index rose 22.96, or 1.03 percent, to 2,257.85.

Light, sweet crude for August delivery rose $5.60 to $141.65 a barrel on the New York Mercantile Exchange on another missile test by Iran and worries about more supply disruptions in Nigeria.

Bond prices ticked higher as stocks fluctuated. The yield on the benchmark 10-year Treasury note, which moves opposite to its price, slipped to 3.80 percent from 3.82 percent late Wednesday. The dollar was mixed against other major currencies, while gold prices rose.

The biggest decliner among the 30 Dow companies was American International Group Inc, which tumbled $2.15, or 8.2 percent, to $23.99. On Wednesday night, credit ratings agency Moody's Investors Service lowered its financial strength rating on AIG's mortgage insurance subsidiary.

Freddie Mac fell $2.26, or 22 percent, to $8, and Fannie Mae fell $2.11, or 13.8 percent, to $13.20. Lehman fell $2.44, or 12.4 percent, to $17.30.

Shares of Wachovia Corp. also sank Thursday, after the bank named a new CEO Wednesday night. Wachovia fell $1.16, or 8.1 percent, to $13.13.

In economic data, the Labor Department said new applications for unemployment insurance fell by a seasonally adjusted 58,000 to 346,000 last week. But continuing claims rose, indicating lingering weakness in the labor market.

The number of people continuing to receive unemployment benefits jumped by 91,000 to 3.2 million for the week ending June 28, the most recent period for which that information is available. The gain leaves the filings at the highest level since late December 2003.

In corporate news, Wal-Mart Stores Inc. credited sales of groceries and tax rebate checks with giving a boost to June results, and it raised its forecast for the current quarter.

The world's largest retailer said its same-store sales, or sales at stores open at least a year, rose 5.8 percent for the five weeks ended July 4. Including fuel, same-stores sales rose 6.4 percent. Analysts had expected a gain of 3.8 percent according to Thomson Financial. The stock fell 46 cents to $57.21.

Costco Wholesale Corp. dropped $1.29 to $70.86 although it reported that same-store sales rose 9 percent in June including sales of gasoline.

Discounters have been beneficiaries of consumers' search for ways to help their strained household budgets. The health of the consumer is a concern for Wall Street, as consumer spending accounts for more than two-thirds of U.S. economic activity.

Advancing issues narrowly outnumbered decliners on the New York Stock Exchange. Consolidated volume came to 5.71 billion shares, up from 5.06 billion shares on Wednesday.

The Russell 2000 index of smaller companies rose 6.69, or 1.01 percent, to 670.44.

Overseas, Japan's Nikkei stock average rose 0.12 percent. Britain's FTSE 100 fell 2.22 percent, Germany's DAX index declined 1.28 percent, and France's CAC-40 fell 2.49 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average ended the week down 188.00, or 1.67 percent, at 11,100.54. The Standard & Poor's 500 index finished down 23.41, or 1.85 percent, at 1,239.49. The Nasdaq composite index ended the week down 6.30, or 0.28 percent, at 2,239.08.

http://biz.yahoo.com/ap/080712/wall_main.html
Investors set for another tough earnings season
Saturday July 12, 1:42 am ET
By Joe Bel Bruno, AP Business Writer
Financial stocks set to lower S&P 500 earnings 13.5 percent during second quarter

NEW YORK (AP) -- Investors already disheartened about the growing problems of the financial sector and the soaring price of oil are facing more depressing news with the release of second-quarter earnings reports.

The coming week will bring the first big wave of results from America's largest companies, including seven Dow Jones industrial average components and 53 members of the Standard & Poor's 500 index. Investors shouldn't expect much: Earnings for all the companies in the S&P 500 index are forecast by the rating agency to be down 10 percent from a year earlier.

The NYSE DOW closed LOWER by -128.48 points	-1.14% on Friday July 11

Sym Last........ ........Change..........
Dow	11,100.54	-128.48	-1.14%
Nasdaq	2,239.08	-18.77	-0.83%
S&P 500	1,239.49	-13.90	-1.11%
30-yr Bond	4.5170%	+0.0960

NYSE Volume	6,799,584,500
Nasdaq Volume	2,394,446,000


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,261.60	-145.20	-2.69%
DAX	6,153.30	-151.70	-2.41%
CAC 40	4,100.64	-130.92	-3.09%


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,039.69	-27.52	-0.21%
Hang Seng	22,184.55	+362.77	+1.66%
Straits Times	2,926.84	+25.26	+0.87%

http://biz.yahoo.com/ap/080711/wall_street.html
*Stocks end lower amid worries on Fannie, Freddie*
Friday July 11, 10:52 pm ET
By Tim Paradis, AP Business Writer
*Stocks finish volatile week by ending down more than 128 points on Fannie, Freddie worries*

NEW YORK (AP) -- Wall Street's angst over the ongoing fallout from the credit crisis made for a turbulent end to a volatile week Friday -- stocks tumbled, soared and then turned south again as investors tried to assess the dangers faced by the country's biggest mortgage financiers, Fannie Mae and Freddie Mac.

The Dow Jones industrial average, which traded down more than 250 points in the session, briefly moved into positive territory Friday before ending down more than 128 points. The blue chips also traded below 11,000 for the first time in two years. And all the major indexes ended with another losing week.

A new high for oil prices above $147 a barrel also weighed on stocks.

The fate of the government-chartered companies was a focus of trading Friday as it had been earlier in the week. Shares of Fannie Mae and Freddie Mac fell sharply over several sessions on concerns about their stability. Wall Street is worried that a collapse of the two financiers would cause further shock to the financial system, and trigger more losses to banks and brokerages with significant holdings of mortgage-backed securities.

The well-being of Fannie Mae and Freddie Mac is crucial because they hold or guarantee about $5 trillion worth of mortgages, or about half the outstanding mortgages in the United States. Their troubles are just the latest depressing turn in a year-old credit crisis that shows no sign of ending, disappointing some stock traders who thought just months ago that the worst was perhaps over.

Stocks fluctuated late in the session amid varying reports that the Federal Reserve could aid Freddie Mac and Fannie Mae.

Sen. Christopher Dodd, D-Conn., the Senate Banking Committee chairman, raised the prospect that the companies could be given access to emergency Federal Reserve lending. Dodd, who spoke Friday to Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson, said the two are "looking at various options" for propping up the firms if they ultimately need help. Those include giving them access to the Fed's emergency lending "discount window," Dodd said.

But a Fed spokeswoman said later the central bank had not talked with Fannie and Freddie about the emergency lending program. She declined to discuss any other options being considered.

Earlier this year, the Federal Reserve took the unprecedented step of offering direct loans to investment banks from its discount window.

Some observers noted that Freddie Mac and Fannie Mae weren't short of cash, but of access to capital.

"The issue is who is going to make good on the long-term debt, not who is going to provide them with short-term cash," said Jerry Webman, chief economist at Oppenheimer Funds Inc. in New York.

"It started with housing but it's now turning into this issue of availability of capital," he said of the overall problems in the financial sector.

The concerns left the Dow down 128.48, or 1.14 percent, to end at 11,100.54 after having fallen to 10,977.68. It last traded below 11,000 on July 25, 2006.

Broader stock indicators also logged declines. The Standard & Poor's 500 index fell 13.90, or 1.11 percent, to 1,239.49, and the Nasdaq composite index fell 18.77, or 0.83 percent, to 2,239.08.

Friday's drop meant Wall Street moved squarely into a bear market, which is defined as a 20 percent drop from a recent peak. The Dow is down 21.6 percent from the record closing high of 14,164.53 it reached in October. The S&P 500 is down 20.8 percent and the Nasdaq is off 21.7 percent.

The market's other trouble spot, oil, continued its ascent, rising to a trading record of $147.27 amid tensions between the West and Iran. Light, sweet crude for August delivery settled up $3.43 at $145.08, slightly below a record close of $145.29 a barrel set more than a week earlier.

Bond prices fell sharply as investors worried a bailout of Fannie Mae and Freddie Mac could dent the government's credit rating. Ordinarily, bonds are seen as a safe haven during stock market pullbacks. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.96 percent from 3.80 percent late Thursday. The dollar was mixed against other major currencies, while gold prices rose.

Worries about financials dominated trading. Freddie Mac fell 25 cents, or 3.1 percent, at $7.75, after trading as low as $3.89 in the session. Fannie Mae tumbled $2.95, or 22 percent, to $10.25 after trading as low as $6.68.

Lehman Brothers Holdings Inc. fell $2.87, or 16.6 percent, to $14.43 as traders fretted that the No. 4 investment bank will succumb to soured debt.

Citigroup Inc., also struggling with the consequences of failed mortgages, announced it will sell its German retail banking operation to France's Credit Mutuel for $7.7 billion. Global banks and brokerages have scrambled to sell assets and raise capital in an effort to offset nearly $300 billion of write-downs linked to the credit crisis. Citi slipped 9 cents to $16.19.

Investors remain cautious about the entire financial sector, especially ahead of second-quarter reports due next week from major names like JPMorgan Chase & Co. and Merrill Lynch & Co. JPMorgan declined $1.35, or 3.9 percent, to $33.16 and Merrill fell $1.10, or 3.8 percent, to $27.61.

"I'm almost not worried about what they report," said Bill Stone, chief investment strategist for PNC Wealth Management, referring to Wall Street's already low expectations for the companies. "How much can they punish these things?"

Friday's confluence of negative news offset a mostly positive quarterly report from General Electric Co. The industrial and financial conglomerate reported second-quarter profits that met analysts' expectations. The company said the forecast across its business lines was mixed. The stock rose 2 cents to $27.66.

In economic news, the United States' trade deficit narrowed in May as exports -- including industrial supplies and consumer goods -- climbed to all-time highs. The Commerce Department said growing exports drove the trade gap down to $58.8 billion, a 1.2 percent decrease from April and the best showing since March.

The good news did little to buoy investors' moods.

"I don't know if it can get much worse," Stone said of investor sentiment. "Usually you get this horrible sentiment and you're due for at least a bounce out of it."

Beyond earnings reports, economic figures are due next week on inflation, retail sales and the housing market.

Declining issues outnumbered advancers in Friday's session by about 2 to 1 on the New York Stock Exchange, where consolidated volume came to a heavy 6.57 billion shares compared with 5.71 billion shares traded Thursday.

The Russell 2000 index of smaller companies rose 4.51, or 0.67 percent, to 674.95.

Overseas, Japan's Nikkei stock average fell 0.21 percent. Britain's FTSE 100 fell 2.69 percent, Germany's DAX index declined 2.41 percent, and France's CAC-40 fell 3.09 percent.

The Dow Jones industrial average ended the week down 188.00, or 1.67 percent, at 11,100.54. The Standard & Poor's 500 index finished down 23.41, or 1.85 percent, at 1,239.49. The Nasdaq composite index ended the week down 6.30, or 0.28 percent, at 2,239.08.

The Russell 2000 index finished the week up 9.17, or 1.38 percent, at 674.95.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 12,635.43, down 180.04 points, or 1.40 percent, for the week. A year ago, the index was at 15,382.73.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street extended its slump into yet another week Monday as investors worried that even a safety net set up for mortgage financiers Fannie Mae and Freddie Mac won't head off further troubles in the financial markets.

Investors' latest unease about the banking sector comes in a week when many financial names are to issue quarterly reports -- many of which will likely include sizable write-downs of souring mortgage debt.

The NYSE DOW closed LOWER by -45.35 points -0.41% on Monday July 14

Sym Last........ ........Change..........
Dow 11,055.19 -45.35 -0.41% 
Nasdaq 2,212.87 -26.21 -1.17% 
S&P 500 1,228.30 -11.19 -0.90% 
10 Yr Bond(%) 3.88% -0.06 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,300.40 +38.80 +0.74% 
DAX 6,200.25 +46.95 +0.76% 
CAC 40 4,142.53 +41.89 +1.02% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,010.16 -29.53 -0.23% 
Hang Seng 22,014.46 -170.09 -0.77% 
Straits Times 2,904.38 -22.46 -0.77% 

http://biz.yahoo.com/ap/080714/wall_street.html
*Stocks decline as worries about financials persist*
Monday July 14, 5:48 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks decline as investors weigh plan for lenders, face concern about other financials *

NEW YORK (AP) -- Wall Street extended its slump into yet another week Monday as investors worried that even a safety net set up for mortgage financiers Fannie Mae and Freddie Mac won't head off further troubles in the financial markets.

Investors' latest unease about the banking sector comes in a week when many financial names are to issue quarterly reports -- many of which will likely include sizable write-downs of souring mortgage debt.

The Treasury and the Federal Reserve said Sunday they would aid Fannie Mae and Freddie Mac if needed. Wall Street has been on edge about the well-being of the government-chartered companies because they together hold or back $5.3 trillion of mortgage debt, about half the outstanding mortgages in the United States. Washington's efforts to shore up confidence in Fannie Mae and Freddie Mac at times helped those shares Monday but troubles arose in other corners of the financial sector.

Investors worried about a run on IndyMac Bancorp Inc. that led to the bank's takeover by the government Friday. IndyMac is the largest regulated thrift to fail.

Trading in shares of regional bank National City Corp. was briefly halted as the company responded to rumors of financial troubles. The bank said in a statement it is experiencing "no unusual depositor or creditor activity" and that as of Friday's close it had more than $12 billion of excess short-term liquidity.

The rumors and sell-off of regional banks reflect the unease investors have about where financial troubles might emerge.

"My sense is that investors are taking a pretty cautious stance," said Jack A. Ablin, chief investment officer at Harris Private Bank in Chicago. "The government can't bail out the whole industry."

The Dow Jones industrial average fell 45.35, or 0.41 percent, to 11,055.19 after spiking nearly 140 points in early trading.

Worries over Fannie Mae and Freddie Mac on Friday led to a volatile session in which the Dow dipped below the 11,000 mark for the first time in about two years before paring its losses; the market suffered its fourth straight losing week.

Broader stock indicators also dropped Monday. The Standard & Poor's 500 index fell 11.19, or 0.90 percent, to 1,228.30, and the Nasdaq composite index fell 26.21, or 1.17 percent, to 2,212.87.

Declining issues outnumbered advancers by about 3 to 1 on the New York Stock Exchange, where volume came to 5.29 billion shares, down from a very heavy 6.57 billion on Friday.

Bond prices jumped as investors sought the safety of government debt. The yield on the benchmark 10-year Treasury note, which moves opposite its yield, fell to 3.86 percent from 3.96 percent late Friday.

The dollar was mixed against other major currencies, while gold prices jumped.

Light, sweet crude settled up 10 cents at $145.18 a barrel on the New York Mercantile Exchange.

Fannie Mae and Freddie Mac were volatile after tumbling last week amid concerns they would succumb to losses in their mortgage portfolios. The Fed said it would lend to the two companies "should such lending prove necessary." Treasury Secretary Henry Paulson said his department is asking Congress for quick approval of a plan to expand its line of credit to the two companies and to make an equity investment in them if necessary.

Fannie Mae fell 52 cents, or 5.1 percent, to $9.73, while Freddie Mac fell 64 cents, or 8.3 percent, to $7.11.

While the companies say they have adequate access to capital, the government's effort to help the companies is designed to reassure investors who have grown nervous about further fallout from the nearly year-old credit crisis.

"There's a disconnect with saving Fannie and Freddie and bailing out the shareholders," Ablin said. "If the government steps in and ultimately creates a bailout of these entities, I'd be astounded if equity holders were left with anything. I think the market is realizing that."

National City fell 65 cents, or 14.7 percent, to $3.77.

Other banks declined, too: Washington Mutual Inc. fell $1.72, or 34.8 percent, to $3.23.

Jeff Kleintop, chief market strategist at LPL Financial Services in Boston, said investors are pouncing on banks in regions where the housing market pullback has been the steepest, thinking they are likely to have the greatest exposure to bad mortgage debt.

"We might not be seeing depositors make a run on the banks today but we're certainly seeing investors do that," he said.

"I think it's concern about another IndyMac -- that credit ratios are deteriorating so rapidly."

Outside the financial sector, Anheuser-Busch Cos. agreed to a sweetened $52 billion takeover bid from Belgian brewer InBev SA. The deal involving a marquee name in American business combines the maker of Budweiser and Bud Light with the producer of Stella Artois and Beck's. Anheuser-Busch rose 37 cents to $66.87.

Yahoo Inc. revealed Saturday it had rejected Microsoft Corp.'s latest attempt to acquire its online search engine in a joint proposal made with activist investor Carl Icahn, who is leading an effort to remove Yahoo's current board. Yahoo fell $1, or 4.2 percent, to $22.57, while Microsoft slipped 14 cents to $22.57.

The renewed concerns about the financial sector come in what is expected to be a busy week for corporate news, with a steady stream of quarterly results due from names like Intel Corp., Cola-Cola Corp., Microsoft Corp. and Citigroup Inc.

The Russell 2000 index of smaller companies fell 10.45, or 1.55 percent, to 664.50.

Overseas, Japan's Nikkei stock average rose 0.45 percent. Britain's FTSE 100 rose 0.74 percent, Germany's DAX index rose 0.76 percent, and France's CAC-40 advanced 1.02 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street ended a whipsaw day mostly lower, as fears of escalating instability in the financial sector kept investors on edge despite a steep retreat in oil. The Dow Jones industrials on Tuesday had their first close below 11,000 since July 2006.

The NYSE DOW closed LOWER by -92.65 points -0.84% on Tuesday July 15

Sym Last........ ........Change..........
Dow 10,962.54 -92.65 -0.84% 
Nasdaq 2,215.71 +2.84 +0.13% 
S&P 500 1,214.91 -13.39 -1.09% 
10 Yr Bond(%) 3.84% -0.04 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,171.90 -128.50 -2.42% 
DAX 6,081.70 -118.55 -1.91% 
CAC 40 4,061.15 -81.38 -1.96% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 12,754.56 -255.60 -1.96% 
Hang Seng 21,174.77 -839.69 -3.81% 
Straits Times 2,830.75 -73.37 -2.53% 

http://biz.yahoo.com/ap/080715/wall_street.html
*Stocks end mostly lower even as oil prices retreat*Tuesday July 15, 5:46 pm ET 
By Madlen Read, AP Business Writer  
*Dow finishes below 11,000 as bank worries keep market volatile amid oil price pullback *


NEW YORK (AP) -- Wall Street ended a whipsaw day mostly lower, as fears of escalating instability in the financial sector kept investors on edge despite a steep retreat in oil. The Dow Jones industrials on Tuesday had their first close below 11,000 since July 2006.

Just days after the government said it would aid Fannie Mae and Freddie Mac if necessary, Federal Reserve Chairman Ben Bernanke told Congress the U.S. economy faces "numerous difficulties." During the day's testimony, Treasury Secretary Henry Paulson also said the Bush administration has no immediate plans to lend money to the mortgage giants or buy their stock.

Shares of Fannie and Freddie -- which together hold or back nearly half of all the nation's mortgages -- tumbled again.

The stock market did benefit from some bargain-hunting as oil retreated from its near-record levels, but the uncertainty of the financial sector made that recovery hard to sustain. If oil prices stabilize or retreat, consumers might feel more comfortable spending on discretionary items, and in turn help the economy.

"There's definitely a correlation between high energy prices and low consumer spending, and we need that to abate to get us a break," said Kim Caughey, equity research analyst at Fort Pitt Capital Group.

A barrel of light, sweet crude dropped $6.44 to settle at $138.74 on the New York Mercantile Exchange as traders bet that the weak economy in the United States and elsewhere will take its toll on global demand.

While some of the market's most battered bank stocks -- including Washington Mutual Inc., Lehman Brothers Holdings Inc., and regional bank First Horizon National Corp. -- finished higher Tuesday, most bank stocks gave up their brief rallies by the end of the session.

The Dow fell 92.65, or 0.84 percent, to 10,962.54. It was the blue chips' lowest close since July 21, 2006; the high price of oil is one of the major reasons the Dow has been trading at nearly two-year lows.

Broader stock indicators ended mixed. The Standard & Poor's 500 index fell 13.39, or 1.09 percent, to 1,214.91, while the Nasdaq composite index rose 2.84, or 0.13 percent, to 2,215.71.

The technology-dominated Nasdaq got a lift from Microsoft Corp., which rose $1, or 4 percent, to $26.15 after an Oppenheimer & Co. analyst said the software company's shares "look attractive" ahead of its quarterly results scheduled for Thursday.

Intel Corp. also rose ahead of its earnings, which were released after the market closed Tuesday and showed a 25 percent profit increase that beat analysts' expectations. After advancing 24 cents to $20.71 in regular trading, Intel shares rose another 29 cents to $21.00 in after-hours trading.

Treasury prices rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.82 percent from 3.86 percent late Monday.

Among the stronger stocks of the day were Lehman, which rose 82 cents, or 6.6 percent, to $13.22; WaMu, which rose 38 cents, or 11.8 percent, to $3.61; and First Horizon, which rose 85 cents, or 16.9 percent, to $5.89. First Horizon named a new CEO on Tuesday.

But Fannie Mae fell $2.66, or 27 percent, to $7.07, and Freddie Mac fell $1.85, or 26 percent, to $5.26. Treasury Secretary Henry Paulson said that if the government extends financial backing to the two institutions, it will be done "under terms and conditions that protect the U.S. taxpayer."

In a bid to protect Fannie Mae and Freddie Mac, Securities and Exchange Commission Chairman Christopher Cox said to Congress Tuesday that the SEC will broaden existing rules prohibiting naked short selling of banks and broker dealers.

Short-selling is a type of speculation, where a trader sells securities he doesn't own; essentially, it's a bet that a stock will fall. Naked short-selling is when a trader makes such a bet without arranging to borrow the stock first.

Another big decliner was American International Group Inc., which suffered the worst percentage drop in the Dow on Tuesday. AIG shares fell $1.20, or 5.32 percent, to $32 after a Wachovia analyst lowered his rating and earnings estimate for the beleaguered insurer.

Citigroup Inc., another Dow stock, traded as low as $14.01 Tuesday before closing down 66 cents, or 4.3 percent, at $14.56. Citigroup has not traded that low since the company was formed on Oct. 8, 1998, after the merger of Citicorp and Travelers Group. That day, the stock slid to $13.29.

General Motors Corp. saw the largest rebound among the 30 Dow stocks after announcing plans to lay off salaried workers, reduce truck production, suspend its dividend and borrow $2 billion to $3 billion as it adjusts to a weakening U.S. market. GM shares rose 46 cents, or 4.9 percent, to $9.84.

In economic data, the Labor Department said core inflation at the wholesale level, which excludes energy and food, ticked up by just 0.2 percent, but that overall wholesale prices jumped by a larger-than-expected 1.8 percent -- the biggest gain since November.

U.S. consumers have been monitoring their budgets more carefully in the face of higher energy prices, falling home values and an uncertain jobs climate. The Commerce Department reported Tuesday that retail sales edged up by 0.1 percent in June, a weaker amount than expected, due to plummeting sales at car dealerships.

"The bottom line is, eventually, oil as a commodity is going to react to the overall economy," said Dan Alpert, managing director at the investment bank Westwood Capital.

The Russell 2000 index of smaller companies fell 2.15, or 0.32 percent, to 662.35.

Declining issues outnumbered advancers by nearly 3 to 1 on the New York Stock Exchange. Consolidated volume came to a heavy 7.26 billion shares, up from 5.29 billion shares Monday.

Overseas, Japan's Nikkei stock average fell 1.96 percent, Britain's FTSE 100 fell 2.42 percent, Germany's DAX index fell 1.91 percent, and France's CAC-40 fell 1.96 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street at least temporarily shrugged off some of its many concerns Wednesday and bounded higher thanks to a drop in oil prices. The Dow Jones industrial average rose 276 points, or 2.5 percent, posting its best daily gain in three months.

The NYSE DOW closed HIGHER by +276.74 points +2.52%  on Wednesday July 16

Sym Last........ ........Change..........
Dow 11,239.28 +276.74 +2.52% 
Nasdaq 2,284.85 +69.14 +3.12% 
S&P 500 1,245.36 +30.45 +2.51% 
10 Yr Bond(%) 3.9340% +0.0900 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,150.60 -21.30 -0.41% 
DAX 6,155.37 +73.67 +1.21% 
CAC 40 4,112.45 +51.30 +1.26% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 12,760.80 +6.24 +0.05% 
Hang Seng 21,223.50 +48.73 +0.23% 
Straits Times 2,835.32 +4.57 +0.16% 

http://biz.yahoo.com/ap/080716/wall_street.html
*Stocks soar on drop in oil, Wells Fargo report*
Wednesday July 16, 5:51 pm ET 
By Tim Paradis, AP Business Writer  
*Dow jumps 276 points as drop in oil prices eases some concern about rising inflation *

NEW YORK (AP) -- Wall Street at least temporarily shrugged off some of its many concerns Wednesday and bounded higher thanks to a drop in oil prices. The Dow Jones industrial average rose 276 points, or 2.5 percent, posting its best daily gain in three months.

The broader Standard & Poor's 500 index also gained 2.5 percent, while the technology-dominated Nasdaq composite index surged 3.1 percent. Investors exited government bonds and back into stocks as it appeared that the slowing economy will curtail demand for fuel and, in turn, energy costs.

Light, sweet crude fell $4.14 to settle at $134.60 a barrel on the New York Mercantile Exchange, bringing its two-day decline to $10.58.

In addition to sinking oil prices, investors found relief in a decision by Wells Fargo & Co. to boost its dividend that helped counter some of the market's concerns about the health of banks. The San Francisco-based bank's move to raise its payout, along with its tamer-than-expected profit decline, was seen as a bullish sign for the troubled sector.

Still, the Labor Department's report that consumer prices shot up in June at the second fastest pace in 26 years reminded investors that inflation still poses a threat to economic growth.

And Wall Street remains uncertain about the economy and specifically the financial sector. This week has brought fresh attention to potential trouble spots in the mortgage market. Fannie Mae and Freddie Mac, the government-chartered mortgage financiers, are still a concern, as are regional banks that could have bad mortgage debt on their books.

But, for the moment, investors were pleased by the drop in oil from record levels.

"I think the pullback in oil is significant. The market and the market participants clearly had digested what the impact was going to be if oil prices had stayed at that level," said Dan Genter, president and chief investment officer of RNC Genter in Los Angeles.

The Dow rose 276.74, or 2.52 percent, to 11,239.28. It was the blue-chips' biggest one-day gain since April 1, when the index rose 391 points.

On Tuesday, stocks ended mostly lower on continuing worries about the financial sector; the Dow logged its first close below 11,000 since July 2006.

Broader stock indicators also rose Wednesday after fluctuating in the early going. The S&P 500 index advanced 30.45, or 2.51 percent, to 1,245.36, and the Nasdaq rose 69.14, or 3.12 percent, to 2,284.85.

Advancing issues narrowly outpaced decliners by more than 3 to 1 on the New York Stock Exchange, where consolidated volume came to 6.58 billion shares, down from 7.26 billion on Tuesday.

While Wednesday's advance likely indicates some enthusiasm among investors, it could also reflect simple bargain hunting rather than a great change in conviction. With many quarterly reports due in the coming weeks, many investors remain uncertain about the health of the economy.

Bond prices declined. The yield on the benchmark 10-year Treasury note, which moves opposite its price, jumped to 3.94 percent from 3.82 percent late Tuesday.

The dollar was mixed against other major currencies, while gold prices fell.

Oil prices declined after Energy Department figures showed that domestic inventories of crude oil and gasoline rose last week, rather than declining as analysts had expected.

"I think what you're seeing is people are feeling more confident that civilization as we know it is not going to cease to exist and that we're going to make a landing here," Genter said of the decline in oil. "The negative is there is not much of a catalyst here to really pick us up and get us back in the air."

The Labor Department's report that its Consumer Price Index rose 1.1 percent in June came after economists had expected a gain of 0.8 percent. Two-thirds of the increase is linked to surging energy prices. The core reading, which excludes often volatile food and energy costs, ticked up 0.3 percent.

Wall Street has been concerned in recent months that rising prices for necessities like food and fuel would force investors to curb their spending in other areas. A pullback is a disturbing prospect for investors as consumer spending accounts for more than two-thirds of U.S. economic activity. In addition, rising prices could lead the Federal Reserve to raise interest rates, a move that risks derailing economic growth by making access to capital more expensive.

Beyond the inflation reading, which follows a report Tuesday that showed a 1.8 percent increase in wholesale prices for June, investors examined a Fed report that industrial production rose 0.5 percent in June after declining 0.2 percent in May. The increase was the highest since a 0.6 percent gain in July of last year.

Minutes from the last month's meeting of the Federal Open Market Committee, the arm of the Fed that sets interest rates, indicated that policymakers believed that the next move on rates would be an increase. The Fed in June broke a string of reductions by leaving rates unchanged at its last meeting, a recognition that lower rates had weighed on the dollar and led to increases in commodities such as oil and food.

But given the big developments in the financial system over the past several days, the minutes were largely regarded by the market as old news.

It was a huge day for sectors such as financials and airlines that have seen massive sell-offs recently.

Wells Fargo & Co. said its second-quarter earnings fell 22 percent as more customers at the nation's fifth-largest bank failed to repay loans. But the company's results beat Wall Street expectations, and investors were pleased by Wells Fargo's decision to raise its quarterly dividend to 34 cents from 31 cents. Wells Fargo rose $6.72, or 32.8 percent, to $27.23.

Delta Air Lines Inc. rose $1.24, or 26.6 percent, to $5.91 after reporting that high fuel prices led to a hefty second-quarter loss despite a strong increase in sales. The results topped Wall Street estimates, however, which excluded one-time items.

The Russell 2000 index of smaller companies rose 24.40, or 3.68 percent, to 686.75.

Overseas, Japan's Nikkei stock average rose 0.05 percent. Britain's FTSE 100 fell 0.60 percent, Germany's DAX index rose 1.21 percent, and France's CAC-40 rose 1.26 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street shot higher Thursday, extending its rally into a second session as tumbling energy prices bolstered an already upbeat mood that followed stronger-than-expected quarterly reports from big names like JPMorgan Chase and United Technologies. The Dow Jones industrial average rose more than 200 points, bringing their two-day advance to more than 480.

The NYSE DOW closed HIGHER by +207.38 points	+1.85% on Thursday July 17

Sym Last........ ........Change..........
Dow	11,446.66	+207.38	+1.85%
Nasdaq	2,312.30	+27.45	+1.20%
S&P 500	1,260.31	+14.95	+1.20%
30-yr Bond	4.6380%	+0.0560

NYSE Volume	6,896,996,500
Nasdaq Volume	2,633,217,250

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,286.30	+135.70	+2.63%
DAX	6,271.27	+115.90	+1.88%
CAC 40	4,225.99	+113.54	+2.76%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,887.95	+127.15	+1.00%
Hang Seng	21,734.72	+511.22	+2.41%
Straits Times	2,864.10	+28.78	+1.02%

http://biz.yahoo.com/ap/080717/wall_street.html
*Stocks end higher on falling energy prices*
Thursday July 17, 4:34 pm ET
By Tim Paradis, AP Business Writer
*Stocks extend gains from upbeat corporate profit reports as energy prices show steep declines*

NEW YORK (AP) -- Wall Street shot higher Thursday, extending its rally into a second session as tumbling energy prices bolstered an already upbeat mood that followed stronger-than-expected quarterly reports from big names like JPMorgan Chase and United Technologies. The Dow Jones industrial average rose more than 200 points, bringing their two-day advance to more than 480.

Investors got a double dose of good news after weeks of angst about the economy. Light, sweet crude fell $5.31 to settle at $129.29 a barrel; oil has dropped more than $15 in just the past three sessions. And early Thursday, three components of the Dow industrials -- JPMorgan Chase & Co., United Technologies Corp. and Coca-Cola Co. -- issued comments that generally indicated that their businesses are holding up despite sometimes difficult economic conditions.

The reports let investors put aside some of their worst fears about the economy. Still, Wall Street has had some up periods in the past few months as optimism grew -- only to fall back into a downturn as worries about the financial sector and the economy have welled back up.

"The sentiment has just been so negative that even a whiff of positive news is driving the markets," said Kevin Dorwin, principal at wealth management firm Bingham, Osborn & Scarborough in San Francisco. "Oil the key factor right now because inflation has been on the top of investors' minds and a reduction in the price of oil signals that perhaps inflation will not get out of hand. That's very positive for both the stock and bond markets."

Beyond oil, natural gas prices also fell sharply Thursday after the Energy Department said domestic stockpiles rose last week -- signaling a drop in demand. While levels remain below those of recent years natural gas fell 86.1 cents to settle at $10.537 per 1,000 cubic feet.

A sustained drop in energy costs would be welcome news for nearly all parts of the economy. Consumers have been hard-pressed by higher fuel and food costs. Wall Street is worried they will pare their spending on discretionary items to make room in their budgets for the higher-priced necessities. A pullback could be troublesome as consumer spending accounts for more than two-thirds of U.S. economic activity.

But the declines in energy and profit reports from marquee names left investors in an acquisitive mood again Thursday. According to preliminary calculations, the Dow rose 207.38, or 1.85 percent, to 11,446.66. The Dow on Wednesday surged 276 points after oil fell and Wells Fargo & Co. posted better-than-expected earnings.

The 4.4 percent advance over two days was the Dow's best two-day percentage gain since October 2002 and the point increase gave the blue chips their best back-to-back point gain since late November last year.

Broader stock indicators also rose Thursday. The Standard & Poor's 500 index advanced 14.96, or 1.20 percent, to 1,260.32, and the Nasdaq composite index rose 27.45, or 1.20 percent, to 2,312.30.

Advancing issues outpaced decliners by nearly 3 to 1 on the New York Stock Exchange, where volume came to 1.96 billion shares compared with 1.73 billion shares traded Wednesday.

Bond prices showed steep declines as investors turned away from the safety of government debt. The yield on the benchmark 10-year Treasury note, which moves opposite its price, jumped to 4.01 percent from 3.94 percent late Wednesday.

The dollar was mixed against other major currencies, while gold prices rose.

Wall Street also appeared placated by economic figures. A Commerce Department report showed construction of homes and apartments rose in June by 9.1 percent. The gain follows a change in New York laws that has given a boost to apartment building. Construction of single-family homes fell by 5.3 percent to the slowest pace in 17 years. Applications for building permits, one indicator of future activity, rose by 11.6 percent.

The Labor Department said the number of newly laid-off people seeking unemployment benefits rose by 18,000 last week to 366,000. However, the increase was below the number economists expected.

Corporate results helped buoy investor sentiment. JPMorgan Chase posted a 53 percent decline in its second-quarter earnings as mortgage and other loan defaults worsened, but the decline in profits wasn't as steep as Wall Street had feared and the stock rose $4.86, or 13.5 percent, to $40.80.

"There were some better-than-expected numbers out of the banks. I think we're maybe getting a little bit of a sigh of relief rally. Things had gotten so scary there for a few days," said Denis Amato, chief investment officer at Ancora Advisors in Cleveland.

Among other financials that gained, Fannie Mae and Freddie Mac jumped after Fitch Ratings affirmed long-term issuer default ratings on the government-chartered mortgage giants. Fitch cut Fannie's preferred stock rating and put Freddie's on watch for a possible downgrade. Investors have worried in recent weeks that they would run into serious financial troubles because of faltering mortgages. Fannie Mae rose $1.68, or 18 percent, to $10.93, while Freddie Mac rose $1.50, or 22 percent, to $8.33.

United Technologies rose $3.59, or 5.9 percent, to $64.70 after posting an 11 percent increase in its second-quarter profit. The maker of everything from jet engines to ventilation systems reported strong growth at its Otis elevator and Carrier air conditioner divisions. The company also raised its full-year forecast for revenue and per-share earnings.

Coca-Cola's second-quarter earnings fell 23 percent as the world's largest beverage company earned $1.42 billion. While the company's revenue and earnings excluding items topped expectations, analysts said volume growth was lighter than expected. The stock fell $2, or 3.8 percent, to $50.34.

The Russell 2000 index of smaller companies rose 9.88, or 1.44 percent, to 696.63.

Overseas, Japan's Nikkei stock average closed up 1.00 percent. Britain's FTSE 100 jumped 2.63 percent, Germany's DAX index rose 1.88 percent, and France's CAC-40 surged 2.76 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street closed out an impressive week with a mixed performance Friday after disappointing high-tech earnings punctured some of investors' enthusiasm over better-than-expected bank earnings reports. But the major indexes still ended the week with big gains, the result of rising optimism about the troubled financial sector.

The Dow Jones industrial average ended the week up 396.03, or 3.57 percent, at 11,496.57. The Standard & Poor's 500 index finished up 21.19, or 1.71 percent, at 1,260.68. The Nasdaq composite index ended the week up 43.70, or 1.95 percent, at 2,282.78.

The NYSE DOW closed HIGHER by +49.91 points	+0.44% on Friday July 18
Sym Last........ ........Change..........
Dow	11,496.57	+49.91	+0.44%
Nasdaq	2,282.78	-29.52	-1.28%
S&P 500	1,260.68	+0.36	+0.03%
30-yr Bond	4.6620%	+0.0240

NYSE Volume	5,694,385,500
Nasdaq Volume	2,288,749,000

Europe
Symbol... Last...... .....Change.......
FTSE 100	5,376.40	+90.10	+1.70%
DAX	6,382.65	+111.38	+1.78%
CAC 40	4,299.36	+73.37	+1.74%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,803.70	-84.25	-0.65%
Hang Seng	21,874.19	+139.47	+0.64%
Straits Times	2,847.73	-16.37	-0.57%

http://biz.yahoo.com/ap/080718/wall_street.html
*Wall Street mixed after earnings reports*
Friday July 18, 5:34 pm ET
By Joe Bel Bruno, AP Business Writer
*Stocks turn mixed after disappointing tech results offset report from Citigroup*

NEW YORK (AP) -- Wall Street closed out an impressive week with a mixed performance Friday after disappointing high-tech earnings punctured some of investors' enthusiasm over better-than-expected bank earnings reports. But the major indexes still ended the week with big gains, the result of rising optimism about the troubled financial sector.

The market was clearly pleased when Citigroup Inc., while reporting a second-quarter loss Friday morning, beat analysts' forecasts and joined Wells Fargo & Co. and JPMorgan Chase & Co. in delivering stronger results than the market anticipated. But investors who ecstatically sent the Dow Jones industrials soaring by more than 480 points over Wednesday and Thursday were brought back down to earth by results from Google Inc., Microsoft Corp. and Advanced Micro Devices Inc.

Google's results were lower than expected, the result of the weakening economy hurting advertising revenue, while Microsoft missed forecasts by a penny. Also, AMD's chief executive stepped down after the chip maker posted a wider-than-expected loss.

Still, the market that has hungered for good news about financial companies after a year-long credit crisis got it from Citi. The banking company reported a $2.5 billion second-quarter loss due to write-downs tied to deteriorating credit markets. The results surpassed projections, and helped to mitigate some of the market's concerns following a big loss from Merrill Lynch & Co. reported late Thursday.

It was a good sign to some analysts that the market didn't sell off sharply after two straight days of hefty gains.

"If you look at the fundamentals, not a lot of changed in the fundamentals, but you had the financial crisis come to a head," said Philip Dow, managing director of equity strategy at RBC Dain Rauscher. "This was a pivotal week that we just went through, one that perhaps marked a bottom for the financial crisis. That doesn't mean we're about to have a bull market, but maybe a break in the pronounced selling that's been going on."

More banks are among the companies reporting next week: Wachovia Corp., Washington Mutual Inc. and Bank of America Corp. And hundreds of other big corporations will also be releasing results, keeping the market on edge as investors try to determine whether an economic rebound might be in the offing.

The Dow rose 49.91, or 0.44 percent, to 11,496.57, adding on to a 483-point gain Wednesday and Thursday.

Broader stock indicators were mixed. The Standard & Poor's 500 index rose 0.36, or 0.03 percent, to 1,260.68, and the technology-focused Nasdaq composite index dropped 29.52, or 1.28 percent, to 2,282.78.

For the week, the Dow rose 3.57 percent, the Nasdaq increased 1.95 percent, and the S&P rose 1.71 percent.

Bond prices fell Friday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 4.09 percent from Thursday's 4.00 percent.

The dollar was mixed against other major currencies, while gold prices fell.

Meanwhile, oil prices retreated after rising earlier in the session. A barrel of light, sweet crude fell 41 cents to settle at $128.88 on the New York Mercantile Exchange.

Oil's huge pullback this week -- dropping about $16 over three days -- also fed Wall Street's big rally. Stock investors have been worried that consumers forced to pay more for necessities including fuel and food will continue to cut back on their discretionary spending, something that would further hurt a struggling economy.

While the week on Wall Street showed that a market long pummeled by bad economic news can quickly turn around, there have been many times over the past year when a huge gain quickly evaporated at the first sign of trouble. So while many investors felt that it was safe to lay down some bets this week, everyone on the street is mindful that there can be further steep losses ahead.

"Considering the strength we had in the past few days, the market is handling itself quite nice and trying to hold on to the gains," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners. "Investors are also positioning ahead of a barrage of earnings and economic reports due next week."

Certainly, it was a week of extremes -- the Dow had its biggest two-day percentage gain since October 2002 but it also, on Tuesday, had its first close below 11,000 in two years. And until investors get a more steady stream of good economic and corporate news, such extremes may well continue.

Google fell $52.12, or 9.8 percent, to $481.32 after it posted disappointing results late Thursday. Microsoft dropped $1.66, or 6 percent, to $25.86, while AMD fell 65 cents, or 12.3 percent, to $4.65.

Financial stocks were mixed. Merrill rose 18 cents to $30.91, after its wider-than-expected loss, while Citi added $1.38, or 7.7 percent, to $19.35 after its better-than-anticipated loss.

Honeywell International Inc. fell 20 cents to $50.66 after it reported second-quarter earnings rose 18 percent and surpassed forecasts. The aerospace company also boosted its 2008 forecast.

Mattel Inc. surged $2.38, or 13 percent, to $20.66 after the toymaker said its reported profit was cut in half, but still beat Wall Street expectations.

Israeli drugmaker Teva Pharmaceutical Industries Ltd. said Thursday it will buy rival generic drug company Barr Pharmaceuticals Inc. for more than $7 billion, in a move to expand its presence in U.S. and Eastern European markets. Teva rose $1.82, or 4.4 percent, to $42.87, while Barr shot up $6.26, or 11 percent, to $63.43.

The Russell 2000 index of smaller companies fell 3.55, or 0.51 percent, to 693.08.

Advancing issues outnumbered decliners by about 8 to 7 on the New York Stock Exchange, where consolidated volume came to 5.49 billion shares, down from an unusually heavy 7.17 billion on Thursday.

Overseas, Japan's Nikkei stock average fell 0.65 percent. Britain's FTSE 100 rose 1.70 percent, Germany's DAX index added 1.78 percent, and France's CAC-40 rose 1.74 percent.

The Dow Jones industrial average ended the week up 396.03, or 3.57 percent, at 11,496.57. The Standard & Poor's 500 index finished up 21.19, or 1.71 percent, at 1,260.68. The Nasdaq composite index ended the week up 43.70, or 1.95 percent, at 2,282.78.

The Russell 2000 index finished the week up 18.13, or 2.69 percent, at 693.08.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 12,850.50, up 215.07 points, or 1.70 percent, for the week. A year ago, the index was at 15,695.74.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street turned in a mixed performance Monday as investors watched the price of oil regain ground and decided to cash in some of their gains from the stock market's big rally last week.

While the stock market's major indexes showed modest losses, the number of stocks advancing outpaced decliners by about 2 to 1 on the New York Mercantile Exchange, and by about 4 to 3 on the Nasdaq Stock Market.

The NYSE DOW closed LOWER by -29.23 points	-0.25% on Monday July 21

Sym Last........ ........Change..........
Dow	11,467.34	-29.23	-0.25%
Nasdaq	2,279.53	-3.25	-0.14%
S&P 500	1,260.00	-0.68	-0.05%
30-yr Bond	4.6480%	-0.0140

NYSE Volume	4,359,248,000
Nasdaq Volume	1,859,415,250

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,404.30	+27.90	+0.52%
DAX	6,424.84	+42.19	+0.66%
CAC 40	4,327.14	+27.78	+0.65%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,803.70	-84.25	-0.65%
Hang Seng	22,532.90	+658.71	+3.01%
Straits Times	2,919.21	+71.48	+2.51%

http://biz.yahoo.com/ap/080721/wall_street.html
*Stocks end mixed on worries about earnings, oil*
Monday July 21, 4:39 pm ET
By Joe Bel Bruno, AP Business Writer
*Stocks end mixed as oil prices rebound, investors cash in some of last week's big gains*

NEW YORK (AP) -- Wall Street turned in a mixed performance Monday as investors watched the price of oil regain ground and decided to cash in some of their gains from the stock market's big rally last week.

While the stock market's major indexes showed modest losses, the number of stocks advancing outpaced decliners by about 2 to 1 on the New York Mercantile Exchange, and by about 4 to 3 on the Nasdaq Stock Market.

The tame session unfolded as oil rose on concerns that the threat of new sanctions against Iran over its nuclear program may escalate tensions in the Middle East. Light, sweet crude rose $2.16 to settle at $131.04 a barrel on the New York Mercantile Exchange.

The rise in oil offset initial market enthusiasm after Bank of America Corp. posted results that beat expectations, raising hope the credit crisis might be easing for the nation's biggest retail banks. The largest U.S. bank by assets reported that higher investment banking and record revenue helped drive earnings during the second quarter.

With Bank of America's results, four of the nation's five biggest banks have now reported better-than-expected earnings, and that's raising hopes that the financial sector is starting to recover from the year-old credit crisis.

Still, "with crude trading up near $130, and a big advance last week, some investors are taking chips off the table," said Jim Herrick, manager of equity trading at Baird & Co. "We're going to be in a tight trading range this week based on earnings and oil prices. I expect more of the same."

The market was also uneasy about earnings at drug makers Merck & Co. and Schering-Plough Corp. Both pharmaceutical companies fell after a new study showed their cholesterol drug Vytorin did not meet its main goals. They also took the unusual step of delaying their second-quarter results until after the closing bell to allow researchers time to present the report.

According to preliminary calculations, the Dow Jones industrial average fell 29.23, or 0.25 percent, to 11,467.34 after moving in and out of positive territory.

Broader indexes showed more modest declines. The Standard & Poor's 500 index slipped 0.68, or 0.05 percent, to 1,260.00; and the Nasdaq composite index dropped 3.25, or 0.14 percent, to 2,279.53.

The moves follow a strong week for the markets. The Dow last week rose 3.57 percent, while the Nasdaq increased 1.95 percent, and the S&P rose 1.71 percent.

Bond prices rose Monday as the major stock indexes declined. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 4.05 percent from 4.09 percent late Friday.

The dollar was mixed against other major currencies, while gold prices rose.

Ryan Detrick, senior technical strategist at Schaeffer's Investment Research, said the market is still feeling somewhat upbeat about how earnings are shaping up so far this quarter. And that's helped to maintain some of last week's market gains, despite the pullback on Monday.

"We're having some more good news from the financials -- it wasn't as bad as feared," he said. "And we've also got some buyout deals."

Some 158 members of the Standard & Poor's 500 index and 10 members of the Dow industrials are slated to post results this week. The biggest on Monday was Bank of America, which reported that increased bad debt due to the housing slump pushed profits down 41 percent. However, it still surpassed expectations due to a solid performance in its business not tied to real estate. The stock rose $1.07, or 3.9 percent, to $28.56.

Investors also were somewhat optimistic that mergers and acquisitions, which have been sluggish since the credit crisis began last year, might be reviving. Swiss drug maker Roche Holding announced plans to acquire the stake in Genentech Inc. it doesn't already own for $43.7 billion, making it the seventh-largest pharmaceuticals company in the U.S.

Shares of Genentech were among the best performers during the session, rising $12.06, or 14.7 percent, to $93.88.

Yahoo Inc. fell 78 cents, or 3.5 percent, to $21.67 after the Internet portal staved off an attempt by activist shareholder Carl Icahn to take control and sell it. Icahn, who has argued in favor of selling Yahoo to Microsoft Corp., will become a Yahoo director along with two of his nominees.

Toy maker Hasbro Inc. said second-quarter profits rose, helped by the weaker dollar and demand for toys inspired by "Star Wars" and "Indiana Jones." Sales jumped 13 percent to $784.3 million. However, concerns about costs and a campaign to raise prices pushed shares down 64 cents to $37.35.

In economic news, Treasury Secretary Henry Paulson sought to reassure the public Sunday that the banking system is sound, while also preparing people for more troubled times ahead. "I think it's going to be months that we're working our way through this period -- clearly months," he said.

And that was confirmed by more economic data Monday. The Conference Board said the economy contracted in June as factories cut workers' hours and stocks tumbled. The research group's index of leading economic indicators, a gauge of future economic activity, fell 0.1 percent, in line with estimates by Wall Street economists surveyed by Thomson Financial/IFR. It also revised its May figure to show a decline instead of slight growth.

The Russell 2000 index of smaller companies rose 4.55, or 0.66 percent, to 697.63.

Volume on the New York Stock Exchange volume came to 1.2 billion shares.

Overseas, markets in Japan were closed for a holiday. Britain's FTSE 100 rose 0.52 percent, Germany's DAX index added 0.66 percent, and France's CAC-40 rose 0.65 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street shook off early doldrums and closed sharply higher Tuesday after another drop in oil prices encouraged investors to set aside financial sector worries and go bargain hunting across the market. The Dow Jones industrial average rose more than 130 points.

Stocks initially fell on uneasiness about the continuing impact of the housing market downturn and the credit crisis on financial company earnings. Disappointing results from American Express Co. and Wachovia Corp. fed those worries.

The NYSE DOW closed HIGHER by +135.16 points +1.18%  on Tuesday July 22

Sym Last........ ........Change..........
Dow 11,602.50 +135.16 +1.18% 
Nasdaq 2,303.96 +24.43 +1.07% 
S&P 500 1,277.00 +17.00 +1.35% 
10 Yr Bond(%) 4.0970% +0.0300 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,364.10 -40.20 -0.74% 
DAX 6,442.79 +17.95 +0.28% 
CAC 40 4,327.26 +0.12 +0.00% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,184.96 +381.26 +2.98% 
Hang Seng 22,527.48 -5.42 -0.02% 
Straits Times 2,890.66 -28.55 -0.98% 

http://biz.yahoo.com/ap/080722/wall_street.html
*Stocks jump as crude drops $3 a barrel*
Tuesday July 22, 5:37 pm ET 
By Joe Bel Bruno, AP Business Writer  
*Wall Street surges as drop in oil offsets disappointing earnings reports; financials rally *

NEW YORK (AP) -- Wall Street shook off early doldrums and closed sharply higher Tuesday after another drop in oil prices encouraged investors to set aside financial sector worries and go bargain hunting across the market. The Dow Jones industrial average rose more than 130 points.

Stocks initially fell on uneasiness about the continuing impact of the housing market downturn and the credit crisis on financial company earnings. Disappointing results from American Express Co. and Wachovia Corp. fed those worries.

But a $3 drop in oil -- which took crude's decline in recent weeks to nearly $20 a barrel -- persuaded some investors to wade back into equities.

Even Wachovia Corp., the nation's fourth-largest bank, shot 27 percent higher after its stock tumbled to levels not seen since the early-1990s. The stock was pummeled after the retail bank posted an $8.9 billion loss because of charges and reserves for bad mortgage loans.

The focus on higher oil's impact on the economy has been so intense that any notch lower breeds optimism that the commodities run-up might perhaps be nearing an end, analysts said. That means, for the moment, corporate earnings reports have lost some of their dominance of the market.

The market was looking at the long-term impact of somewhat cheaper energy -- and likely betting that company earnings would pick up if oil extends its decline.

"There's been so many people speculating about oil taking off and how to handle it, the whole economy has been focused on it," said Todd Leone, managing director of equity trading at Cowen & Co. "Just the fact that it has dropped -- a big move down -- helps out. There's the perception that this will get the economy going again."

He acknowledged that there was no shortage of disappointing results at America's biggest companies -- American Express Co., Apple Inc. and Texas Instruments Inc. all fell short of expectations. And Wachovia's miss was at least initially sobering for investors who last week sent stocks soaring after better-than-estimated reports from Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co.

Global banks and brokerages have written down some $300 billion of mortgage-backed securities and other risky investments since the crisis began last year. Investors also got a fresh look at how badly the turmoil has hurt financial companies. Following Tuesday's closing bell in New York, both Washington Mutual Inc. and E-Trade Financial Corp. reported losses after boosting reserves to cover bad loans.

The Dow rose 135.16, or 1.18 percent, to 11,602.50. The blue chip index rose 400 points last week, but ended Monday's session slightly lower.

Broader indexes also rose Tuesday. The Standard & Poor's 500 index jumped 17.00, or 1.35 percent, to 1,277.00. The technology-dominated Nasdaq composite index, which was down for much of the session on tech earnings disappointments, ended up 24.43, or 1.07 percent, at 2,303.96.

The Russell 2000 index of smaller companies rose 19.19, or 2.75 percent, to 716.82.

The price of oil began the session mildly lower on expectations that Tropical Storm Dolly wouldn't disrupt oil operations in the Gulf of Mexico. The advance increased after comments from a Federal Reserve official sent the dollar higher against major currencies, a trend that in turn sends commodities lower.

A barrel of light, sweet crude tumbled $3.09 to settle at $127.95 on the New York Mercantile Exchange, down nearly $20 from its record high of $147.27, reached just weeks ago.

Philadelphia Federal Reserve President Charles Plosser said there could be rate hikes "sooner rather than later" even if employment and financial conditions haven't revived. Higher rates also would make some government debt less attractive, and that sent Treasury bonds sharply lower.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 4.10 percent from 4.04 percent late Monday. Government debt also weakened as investors moved into equities.

Ryan Larson, senior equity trader at Voyageur Asset Management, said the "oil prices are alleviating some fears" triggered by a number of disappointing earnings reports. So far, the growth rate of Standard & Poor's 500 index companies reporting has fallen to negative 14.7 percent, according to Thomson Financial.

"Lower oil prices are diverting attention from earnings for the moment," Larson said. "There's no questions about some negative earnings reports coming out, but we're starting to think some of them might be company specific and not broader."

Investors will get more data with some 158 members of the S&P 500 expected to report this week, the busiest since second-quarter earnings season began earlier this month.

Earnings reports released in the past few days showed some indications that consumers -- responsible for more than two-thirds of U.S. economic activity -- are scaling back on purchases. American Express, whose credit cards cater to more affluent customers, missed projections after setting aside more money to cover souring loans across all its portfolios. The stock fell $2.91, or 7.1 percent, to $37.99.

Technology stocks were lower early in the session after Apple, which makes iPods and iMac computers, beat expectations but issued a weaker-than-expected forecast for the current quarter. The stock fell $4.27, or 2.6 percent, to $162.02. Texas Instruments fell $4.17, or 15 percent, to $24.35 after it missed expectations because of a slowdown in orders.

Advancing issues outpaced decliners by more than 2 to 1 on the New York Stock Exchange, where about 6.04 billion shares changed hands in consolidated trading compared with about 4.5 billion shares on Monday.

Japan's Nikkei stock average rose 2.98 percent. Britain's FTSE 100 fell 0.74 percent, Germany's DAX index rose 0.28 percent, and France's CAC-40 edged up less than 0.01 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Stocks advanced for the second straight session Wednesday as another decline in oil prices and several upbeat profit reports eased some of Wall Street's concerns about the economy.

Investors expect that a sustained pullback in oil prices would give a crucial boost to the economy. Crude has retreated as oil investors have worried that high prices and a sluggish economy are reducing demand. The government reported Wednesday that domestic inventories increased last week as consumers curbed their energy use.

The NYSE DOW closed HIGHER by +29.88 points +0.26% on Wednesday July 23

Sym Last........ ........Change..........
Dow 11,632.38 +29.88 +0.26% 
Nasdaq 2,325.88 +21.92 +0.95% 
S&P 500 1,282.19 +5.19 +0.41% 
10 Yr Bond(%) 4.1480% +0.0510 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,449.90 +85.80 +1.60% 
DAX 6,536.09 +93.30 +1.45% 
CAC 40 4,408.74 +81.48 +1.88% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,312.93 +127.97 +0.97% 
Hang Seng 23,134.55 +607.07 +2.69% 
Straits Times 2,978.98 +88.32 +3.06% 

http://biz.yahoo.com/ap/080723/wall_street.html
*Stocks advance following sharp drop in oil prices*
Wednesday July 23, 6:08 pm ET 
By Tim Paradis, AP Business Writer  
*Wall Street extends advance as oil continues decline, earnings reports offer some optimism *

NEW YORK (AP) -- Stocks advanced for the second straight session Wednesday as another decline in oil prices and several upbeat profit reports eased some of Wall Street's concerns about the economy.
Investors expect that a sustained pullback in oil prices would give a crucial boost to the economy. Crude has retreated as oil investors have worried that high prices and a sluggish economy are reducing demand. The government reported Wednesday that domestic inventories increased last week as consumers curbed their energy use.

Oil is down more than $20 a barrel since hitting a record above $147 just weeks ago. A barrel of light, sweet crude fell $3.98 to settle at $124.44 a barrel on the New York Mercantile Exchange.

While oil at times tugged at stocks, as it has for months, investors also examined a raft of earnings reports Wednesday that indicated not all corporate profits were suffering because of the slower economy. That left some investors more upbeat about the prospects for the overall economy. AT&T Inc., McDonald's Corp. and Pfizer Inc., all among the 30 stocks that make up the Dow Jones industrial average, weighed in with reports that generally pleased investors.

"Oil is a positive but I think bigger than that is the earnings news is not as catastrophic as people were thinking," said Noman Ali, portfolio manager of U.S. equities for MFC Global Investment Management in Toronto. "Some of the bellwethers are reporting earnings that are better-than-expected. And outside of the financials, things aren't so bad."

The Dow rose 29.88, or 0.26 percent, to 11,632.38 after rising nearly 100 points early in the session. On Tuesday, the blue chips gained 135 points.

Broader stock indicators also advanced Wednesday. The Standard & Poor's 500 index rose 5.19, or 0.41 percent, to 1,282.19 and the technology-laden Nasdaq composite index rose 21.92, or 0.95 percent, to 2,325.88.

Nasdaq's gains came ahead of a report from Amazon.com Inc., which said after the closing bell that its second-quarter profit more than doubled to top Wall Street's expectations.

Advancing issues outnumbered decliners by about 5 to 3 on the New York Stock Exchange, where consolidated volume came to 6.56 billion shares, compared with 6.04 billion shares traded Tuesday.

Bond prices slipped as some investors moved from the safety of government debt to stocks. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 4.12 percent from 4.10 percent from late Tuesday.

The dollar was mixed against other major currencies, while gold prices fell.

Some strength in the dollar helped push oil lower. The drop in oil helped a range of sectors like airlines. Delta Air Lines Inc. rose 89 cents, or 12 percent, to $8.60, while Continental Airlines Inc. jumped $1.54, or 12 percent, to $14.80.

Energy companies lost ground as oil fell. Exxon Mobil Corp. fell $1.87, or 2.3 percent, to $80.99 and Chevron Corp. slid $2.98, or 3.5 percent, to $82.65.

Investors appeared unfazed by the Federal Reserve's Beige Book, which provides readings on the U.S. economy by region and indicated that business conditions have slowed in recent months as consumer spending has turned sluggish. The report arrives two weeks before policymakers' next meeting but seemed to hold few surprises for investors.

Wall Street instead appeared more focused on oil and corporate news.

AT&T rose $1.24, or 3.9 percent, to $33.06 after the company said quarterly profits rose amid a big spike in wireless subscribers that offset its shrinking landline business.

Pfizer, the world's biggest drug maker, said its second-quarter earnings more than doubled as restructuring charges declined and the weak dollar helped lift overseas revenue. The stock rose 72 cents, or 3.9 percent, to $19.07.

McDonald's credited strong overseas sales with driving the company's second-quarter profit. The stock fell 46 cents to $59.66.

Boeing Co. fell $2.54, or 3.7 percent, to $66.72 after reporting second-quarter earnings fell 19 percent due to a $248 million charge related to a defense program. The world's second-largest commercial airplane maker had already warned it would book the expense.

Washington Mutual Inc. fell $1.17, or 20 percent, to $4.65 after the nation's largest thrift reported a $3 billion loss due to increases in its loss reserves to cover souring loans in its mortgage portfolio.

Costco Wholesale Corp. warned that its fiscal fourth-quarter and full-year profits will fall short of Wall Street's expectations. The warehouse club operator expects higher energy costs to hurt its results. The stock fell $8.57, or 12 percent, to $63.43.

Fannie Mae and Freddie Mac advanced ahead of an ultimately successful House vote Wednesday on legislation to tap the mortgage giants' profits to cover any losses from saving 400,000 homeowners from foreclosure. The measure, which won easy approval in a vote after the closing bell on Wall Street, would give the Treasury Department authority to extend the companies a temporary lifeline. Fannie Mae rose $1.59, or 12 percent, to $15, while Freddie Mac rose $1.10, or 11 percent, to $10.80.

Hours before the vote, President Bush dropped his opposition to the measure, which appears likely to pass the Senate and become law within days.

Bill Stone, chief investment strategist for PNC Wealth Management, said some investors had been overly concerned about some financials and that some companies' quarterly reports had quelled some fears.

"They were pricing some of these companies seemingly for the end. And when you don't get the worst possible outcome you get at least a jump out of them," he said.

MFC's Ali said that while the government's action to help Fannie Mae and Freddie Mac has reassured investors he remains cautious.

"Some of the biggest rallies happen in bear markets. The outlook for the market is still pretty negative," he said, pointing to a general decline in earnings, a slowdown in international growth, rising prices and a weak dollar.

The Russell 2000 index of smaller companies rose 2.37, or 0.33 percent, to 719.19.

Overseas, Japan's Nikkei stock average rose 0.97 percent. Britain's FTSE 100 added 1.60 percent, Germany's DAX index rose 1.45 percent, and France's CAC-40 jumped 1.88 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## nunthewiser

Thanks kindly


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street abruptly ended an earnings-driven rally and closed sharply lower Thursday after a steeper-than-expected decline in existing home sales and worries about the financial sector chilled the market's recent optimism. The major indexes fell about 2 percent, including the Dow Jones industrial average, which lost more than 280 points.

The NYSE DOW closed LOWER by -283.10 points -2.43%  on Thursday July 24

Sym Last........ ........Change..........
Dow 11,349.28 -283.10 -2.43% 
Nasdaq 2,280.11 -45.77 -1.97% 
S&P 500 1,252.54 -29.65 -2.31% 
10 Yr Bond(%) 4.0160% -0.1320 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,362.30 -87.60 -1.61% 
DAX 6,440.70 -95.39 -1.46% 
CAC 40 4,347.99 -60.75 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,603.31 +290.38 +2.18% 
Hang Seng 23,087.72 -46.83 -0.20% 
Straits Times 2,977.91 -1.07 -0.04% 

http://biz.yahoo.com/ap/080724/wall_street.html
*Stocks tumble after sales of existing homes fall*
Thursday July 24, 6:11 pm ET 
By Tim Paradis, AP Business Writer  
*Wall Street retreats following steeper-than-expected drop in home sales; financials decline *


NEW YORK (AP) -- Wall Street abruptly ended an earnings-driven rally and closed sharply lower Thursday after a steeper-than-expected decline in existing home sales and worries about the financial sector chilled the market's recent optimism. The major indexes fell about 2 percent, including the Dow Jones industrial average, which lost more than 280 points.

The National Association of Realtors said sales resumed their decline in June after a slight rebound in May. Existing home sales declined by 2.6 percent in June, well beyond the 1 percent drop economists had forecast.

Investors punished shares of homebuilders and financial companies Thursday because both sectors have struggled with the declining housing market.

Alan Lancz, director at investment research group LanczGlobal, said investors are concluding that while financials had been oversold in recent weeks and were due for a rebound, problems remain with tight credit and souring mortgage debt.

"You have the rally and you almost get the hangover now where you say 'You know, we're not out of the woods yet,'" he said.

The Dow fell 283.10, or 2.43 percent, to 11,349.28. It was the biggest decline for the Dow since June 26.

The pullback erased the nearly 170 points added in the two prior sessions. Last week, the Dow gained nearly 400 points. While some declines after the latest rally wouldn't have come as a surprise, the drop Thursday revealed fresh unease about the economy.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 29.65, or 2.31 percent, to 1,252.54. A jump in Amazon.com Inc. shares helped contain some of the decline in the technology-heavy Nasdaq composite index, which fell 45.77, or 1.97 percent, to 2,280.11.

Stocks had risen in the prior two sessions as the price of oil declined. Oil is now down more than $20 after just weeks ago hitting a record above $147 a barrel. A barrel of light, sweet crude rose $1.05 Thursday to settle at $125.49 on the New York Mercantile Exchange.

Bond prices jumped Thursday as some investors looked for the safety of government debt. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 4.00 percent from 4.12 percent from late Wednesday.

The dollar was mixed against other major currencies, while gold prices rose.

Financial stocks declined again Thursday after rising sharply in the past week from their recent lows.

Washington Mutual Inc. fell 62 cents, or 13 percent, to $4.03 after dropping 20 percent Wednesday as concerns persisted about the company's mortgage portfolio. The nation's largest thrift this week posted a $3 billion loss due to increases in its loss reserves to cover souring loans in its mortgage holdings.

Other financials lost ground. Citigroup Inc. fell $2.06, or 9.8 percent, to $19.06, while Merrill Lynch & Co. fell $4.77, or 14 percent, to $29.04. Wachovia Corp. declined $1.96, or 11 percent, to $15.69.

Fannie Mae and Freddie Mac fell sharply after rallying earlier in the week on legislation speeding through Congress that would grant the Treasury Department power to extend the government-sponsored mortgage companies an unlimited line of credit and to buy an unspecified amount of their stock, if necessary. The companies together back or own $5 trillion in mortgages -- nearly half the nation's total.

Fannie Mae fell $2.98, or 20 percent, to $12.02, while Freddie Mac fell $1.99, or 18 percent, to $8.81.

Homebuilder Lennar Corp. fell $2.47, or 18 percent, to $11.07 and KB Home declined $3.04, or 15 percent, to $16.70.

Lancz said the run-up in previous sessions may have led some investors to become too optimistic about the overall market's prospects for a speedy recovery. Stocks are still down nearly 20 percent from the highs seen in October.

"You're going to have these starts and stops but it's going to be a really long-term process," he said.

Adding to investors' pessimism, the Labor Department reported Thursday that the number of people filing first-time claims for unemployment benefits bolted past 400,000 last week as companies trimmed their work forces to cope with a slowing economy.

Investors also absorbed a mix of earnings reports from names like Ford Motor Co., which reported a big loss, and Dow Chemical Co., which said higher costs for raw materials sent earnings down sharply. But drug makers Bristol-Myers Squibb Co. and Eli Lilly & Co. both reported higher earnings as the weak dollar boosted foreign sales, and Amazon.com Inc. turned in a solid report that beat expectations.

Analysts have said that so far, second-quarter earnings reports have been better than many investors expected. That had lifted the market's mood in recent sessions.

Ford said it lost $8.67 billion in the second quarter, largely because of a reduction in the value of assets. The company also said it will bring six European small car models to North America by the end of 2012 as it adjusts production because of high gasoline prices. The stock fell 92 cents, or 15 percent, to $5.11.

Dow Chemical fell $1.13, or 3.3 percent, to $33.11 after reporting sharply higher costs for energy and raw materials contributed to a 27 percent decline in profit.

Bristol-Myers beat expectations with an 8 percent rise in quarterly profit, while Eli Lilly reported a 44 percent jump in earnings. Bristol-Myers rose 23 cents to $22.12 and Eli Lilly advanced 38 cents to $48.

Amazon.com jumped $8.18, or 12 percent, to $78.72 after reporting late Wednesday that second-quarter earnings more than doubled to easily top analysts' expectations. The Internet retailer also raised its full-year revenue projections.

Stephen Goddard, co-portfolio manager of the AFBA 5Star Balanced Fund, said the decline in housing numbers alongside some better-than-expected earnings reports shouldn't be surprising because mixed reports are common during economic downturns.

"All the numbers don't turn at the same time," he said of economic readings. "It's usually one by one by one. You start seeing incremental improvement."

Declining issues outnumbered advancers by about 4 to 1 on the New York Stock Exchange, where consolidated volume came to 5.98 billion shares, compared with 6.56 billion shares traded Wednesday.

The Russell 2000 index of smaller companies fell 16.80, or 2.34 percent, to 702.39.

Overseas, Japan's Nikkei stock average rose 2.18 percent. Britain's FTSE 100 fell 1.61 percent, Germany's DAX index shed 1.46 percent, and France's CAC-40 fell 1.38 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## Aussiejeff

Oh dear.

The hype, fizz and bubble infesting the NYSE over the last few days has suddenly gone flat.... 

Where's the PPT when they are sorely needed?


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average ended the week down 125.88, or 1.09 percent, at 11,370.69. The Standard & Poor's 500 index finished down 2.92, or 0.23 percent, at 1,257.76. The Nasdaq composite index ended the week up 27.75, or 1.22 percent, at 2,310.53.

Wall Street ended a volatile week with uneven gains Friday after better-than-expected economic data placated a market pummeled a day earlier by concerns about housing and the financial sector.

Financials drifted lower on continued worries about the health of balance sheets, while a surge in profits at Juniper Networks Inc. lifted technology stocks.

The NYSE DOW closed LOWER by +21.41 points	+0.19% on Friday July 25

Sym Last........ ........Change..........
Dow	11,370.69	+21.41	+0.19%
Nasdaq	2,310.53	+30.42	+1.33%
S&P 500	1,257.76	+5.22	 +0.42%
30-yr Bond	4.6960%	+0.0850

NYSE Volume	4,675,537,000
Nasdaq Volume	2,055,441,880


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,352.60	-9.70	-0.18%
DAX	6,436.71	-3.99	-0.06%
CAC 40	4,377.18	+29.19	+0.67%


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,334.76	-268.55	-1.97%
Hang Seng	22,740.71	-347.01	-1.50%
Straits Times	2,922.91	-55.00	-1.85%

http://biz.yahoo.com/ap/080725/wall_street.html
*Stocks end higher following economic readings*
Friday July 25, 6:05 pm ET
By Tim Paradis, AP Business Writer
*Wall Street advances moderately following upbeat readings on home sales, consumer sentiment*

NEW YORK (AP) -- Wall Street ended a volatile week with uneven gains Friday after better-than-expected economic data placated a market pummeled a day earlier by concerns about housing and the financial sector.

Financials drifted lower on continued worries about the health of balance sheets, while a surge in profits at Juniper Networks Inc. lifted technology stocks.

The Commerce Department reported that orders sent to factories for big-ticket manufactured goods such as cars, appliances and machinery rose by 0.8 percent in June, the strongest gain in four months and well ahead of Wall Street's expectations. But outside demand for defense equipment orders would have been up only modestly.

Another Commerce Department report showed that new home sales dropped by a smaller-than-expected 0.6 percent. While it marked the seventh decline in the past eight months, it stirred some hope that the housing market could be finding a bottom. Investors hit the sell button Thursday after a a weak reading on existing home sales.

And there was good news about consumers, whose shyness about spending has troubled Wall Street because consumer spending accounts for more than two-thirds of U.S. economic activity. The Reuters/University of Michigan index of consumer sentiment for the first part of July came in at 61.2, while economists forecast a reading of 56.4. The report marked a slight rebound from a 28-year-low last month.

Linda Duessel, equity market strategist at Federated Investors, said economic figures such as the durable goods numbers are important because they reveal continued demand from abroad, which could help U.S. companies continue to rake in profits even if the U.S. economy isn't running at full steam.

"That's good news for market participants as we try to find a footing in the market because we really don't want to see our weakness leak outside the U.S.," she said.

The Dow Jones industrial average rose 21.41, or 0.19 percent, to 11,370.69. The Dow, which fluctuated at times Friday, fell more than 280 points Thursday.

Broader stock indicators also rose. The Standard & Poor's 500 index advanced 5.22, or 0.42 percent, to 1,257.76, and the technology-heavy Nasdaq composite index jumped 30.42, or 1.33 percent, to 2,310.53.

For the week, the Dow fell 1.09 percent and the S&P 500 lost 0.23 percent. Friday's tech rally left the Nasdaq up 1.22 percent for the week.

Bond prices moved lower as investors shifted back into stocks. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 4.10 percent from 4.00 percent from late Thursday.

The dollar was mixed against other major currencies, while gold prices rose.

A barrel of light sweet crude fell $2.23 to settle at $123.26 on the New York Mercantile Exchange. Oil prices have fallen more than $20 in recent weeks, alleviating some of Wall Street's concerns about the effect of inflation consumers' ability to spend.

The stock market's volatility during the week -- rallying Tuesday and Wednesday only to erase those gains Thursday -- illustrates tentativeness behind some of the bets investors are laying, said Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors. He said the market tends to react to whatever the latest headlines are.

"It's just news sensitive and the real question is 'What's the next news going to be? Good or bad?' That means that the market doesn't have a trend or a direction. It depends entirely on whether the news is going to be good or bad on any given day and that doesn't give you, as an investor, a lot of confidence," he said.

Johnson said the ride for investors will likely remain uneven as Wall Street awaits next Friday's government employment report for July.

"If the consensus is correct they'll have little choice but to leave interest rates unchanged," he said referring to the difficulties Federal Reserve policymakers would have in hiking rates to battle inflation without damaging the economy.

Many financial stocks fell again Friday as investors worried about the health of their balance sheets given the weakness in the housing sector. Bank of America Corp. fell $1.06, or 3.5 percent, to $29.58, while Wachovia Corp. fell $1.19, or 7.6 percent, to $14.50.

In corporate news, Juniper Networks, the maker of networking equipment, reported a 40 percent increase in earnings for the second quarter, helped by a new product line. The stock surged $4, or 18 percent, to $26.57.

Fannie Mae and Freddie Mac declined after credit ratings agency Standard & Poor's put the risk-to-government, subordinated debt and preferred stock ratings of the government-chartered mortgage companies on watch for possible downgrade. Fannie Mae fell 47 cents, or 3.9 percent, to $11.55, while Freddie Mac fell 54 cents, or 6.1 percent, to $8.27.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where consolidated volume came to 4.55 billion shares, compared with 5.98 billion shares traded Thursday.

The Russell 2000 index of smaller companies rose 7.95, or 1.13 percent, to 710.34.

Overseas, Japan's Nikkei stock average fell 1.97 percent. Britain's FTSE 100 fell 0.18 percent, Germany's DAX index slipped 0.06 percent, and France's CAC-40 advanced 0.67 percent.

The Dow Jones industrial average ended the week down 125.88, or 1.09 percent, at 11,370.69. The Standard & Poor's 500 index finished down 2.92, or 0.23 percent, at 1,257.76. The Nasdaq composite index ended the week up 27.75, or 1.22 percent, at 2,310.53.

The Russell 2000 index finished the week up 17.26, or 2.49 percent, at 710.34.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 12,837.10, down 6.41 points, or 0.05 percent, for the week. A year ago, the index was at 14,710.78.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street again surrendered to investors' anxiety about the financial sector Monday, sending the Dow Jones industrials down 240 points and back into bear market territory. The flight from equities sent investors into safe-haven bets like Treasury bonds.

The NYSE DOW closed LOWER by -239.61 points	-2.11% on Monday July 28

Sym Last........ ........Change..........
Dow	11,131.08	-239.61	-2.11%
Nasdaq	2,264.22	-46.31	-2.00%
S&P 500	1,234.37	-23.39	-1.86%
30-yr Bond	4.6140%	-0.0820

NYSE Volume	4,248,807,500
Nasdaq Volume	1,973,791,620

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,312.60	-40.00	-0.75%
DAX	6,351.15	-85.56	-1.33%
CAC 40	4,324.45	-52.73	-1.20%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 	13,353.78 	+19.02 	+0.14%
Hang Seng 	22,687.21 	-53.50 	-0.24%
Straits Times 	2,910.63 	-12.28 	-0.42%

http://biz.yahoo.com/ap/080728/wall_street.html
Stocks slide as financials again pull back
Monday July 28, 4:42 pm ET
By Tim Paradis, AP Business Writer
Wall Street slides on renewed concerns about health of financials; Dow back in bear territory

NEW YORK (AP) -- Wall Street again surrendered to investors' anxiety about the financial sector Monday, sending the Dow Jones industrials down 240 points and back into bear market territory. The flight from equities sent investors into safe-haven bets like Treasury bonds.

Financials that had rallied in recent weeks after logging huge declines, suffered from the same worries about souring debt that caused an abrupt end to their run-up late last week. Wall Street is concerned that a further withering of the housing and credit markets will damage bank balance sheets.

An International Monetary Fund report added to some of the stress in the market. The IMF predicted continuing problems in the credit and housing market that will continue to hurt the financial industry. It said, "at the moment a bottom for the housing market is not visible."

Frederic Dickson, chief market strategist at D.A. Davidson & Co., said investors are still trying to get a longer-term view on the stability of the banking industry, particularly the regional banks.

"Corporate depositors and individual depositors are looking at balances at individual financial institutions. I think that's unsettling some of the banks."

On Friday, federal officials closed branches of the 1st National Bank of Nevada and First Heritage Bank N.A. -- owned by Scottsdale, Ariz.-based First National Bank Holding Co., adding to investors' jitters about the ability of some banks to stay afloat.

According to preliminary calculations, the Dow Jones industrial average fell 239.61, or 2.11 percent, to 11,131.08.

Broader stock indicators also fell. The Standard & Poor's 500 index declined 23.39, or 1.86 percent, to 1,234.37, and the Nasdaq composite index fell 46.31, or 2.00 percent, to 2,264.22.

Bond prices jumped as investors again sought the safety of government debt. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 4.02 percent from 4.10 percent from late Friday.

The dollar was mixed against other major currencies, while gold prices fell.

Monday's pall over the market wasn't solely because of flagging confidence in the financial sector. Investors are also waiting to see whether oil prices' sharp drop of recent weeks has come to an end, or is just pausing. Light, sweet crude rose $2.23 to settle at $123.26 on the New York Mercantile Exchange.

The troubles that banks are having with bad debt underscore the difficulty that consumers are facing not only in keeping on top of their mortgages but to make their credit card and car payments. That is leading to worries about the broader economy. Investors should get some insight with big economic reports due at the end of this week.

On Thursday, investors will be looking for the first report on gross domestic product for the second quarter. Economists polled by Thomson Financial/IFR expect the Commerce Department to report that gross domestic product rose thanks in part to the government's tax rebate checks.

Then, on Friday, Wall Street will be awaiting the employment report for June. Often such reports are regarded as the most important economic readings of the month because of the insight into the well-being of the consumer. Their health is important because consumers account for more than two-thirds of U.S. economic activity. The latest Labor Department report is expected to show the seventh month of jobs losses and that the unemployment rate ticked higher.

Dave Rovelli, managing director of U.S. equity trading at Canaccord Adams, said investors were selling off financial shares because of their continued concerns about housing.

"They're taking the financials to the woodshed," he said. "Until the housing market stabilizes you're really not going to see the financials stabilize."

Among financials, Citigroup Inc. fell $1.42, or 7.5 percent, to $17.43, while Morgan Stanley declined $1.79, or 4.9 percent, to $34.96.

The other corporate news Monday wasn't enough to support the market. Verizon Communications Inc. said its second-quarter profit rose 12 percent, although revenue came in short of Wall Street's forecasts. The company, one of the 30 that comprise the Dow industrials, made some investors uneasy after customers disconnected their landlines faster than before. Verizon fell 85 cents, or 2.5 percent, to $33.60.

Kraft, the maker of Velveeta, Oreo cookies and Maxwell House coffee, said higher prices helped offset rising commodity costs and listed second-quarter earnings nearly 4 percent. The company rose $1.45, or 4.9 percent, to $30.83 after raising its forecast for the year.

Private equity firm Kohlberg Kravis Roberts & Co. said Sunday it plans to go public on the New York Stock Exchange through a takeover of its Amsterdam-listed affiliate investment fund KKR Private Equity Investors LP.

Tyson Foods Inc., the world's largest meat company, fell $1.14, or 7 percent, to $15.09 after reporting a 90 percent drop in its fiscal third-quarter profits because of rising cost of grain used to feed chicken.

Amgen Inc. surged $6.56, or 12.2 percent, to $60.48 after the company reported positive trial results for its osteoporosis drug candidate denosumab. Late-stage clinical trial results showed denosumab reduced the incidence of fractured vertebrae in post-menopausal women. It tacked on another 2 percent in after-hours trading after it reported second-quarter profit surpassed projections.

Declining issues outnumbered advancers by more than 3 to 1 on the New York Stock Exchange, where volume came to 1.17 billion shares.

The Russell 2000 index of smaller companies fell 14.23, or 2.00 percent, to 696.11.

Overseas, Japan's Nikkei stock average rose 0.14 percent. Britain's FTSE 100 fell 0.75 percent, Germany's DAX index fell 1.33 percent, and France's CAC-40 declined 1.20 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street shot higher Tuesday, gaining back the previous session's sharp losses and then some, after a drop in oil prices and a rise in consumer confidence gave investors some hope for a letup in Americans' financial woes. The Dow Jones industrial average rose 266 points.

The NYSE DOW closed HIGHER by +266.48 points	+2.39% on Tuesday July 29

Sym Last........ ........Change..........
Dow	11,397.56	+266.48	+2.39%
Nasdaq	2,319.62	+55.40	+2.45%
S&P 500	1,263.19	+28.82	+2.33%
30-yr Bond	4.6220%	+0.0080

NYSE Volume	5,352,602,500
Nasdaq Volume	2,322,084,000

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,319.20	+6.60	+0.12%
DAX	6,398.80	+47.65	+0.75%
CAC 40	4,320.49	-3.96	-0.09%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,159.45	-194.33	-1.46%
Hang Seng	22,258.00	-429.21	-1.89%
Straits Times	2,886.56	-23.80	-0.82%

http://biz.yahoo.com/ap/080729/wall_street.html
*Stocks soar after another drop in oil prices*
Tuesday July 29, 4:18 pm ET
By Madlen Read, AP Business Writer
*Stocks jump as falling oil prices, upbeat confidence data lift Wall Street's consumer gloom
*

NEW YORK (AP) -- Wall Street shot higher Tuesday, gaining back the previous session's sharp losses and then some, after a drop in oil prices and a rise in consumer confidence gave investors some hope for a letup in Americans' financial woes. The Dow Jones industrial average rose 266 points.

Crude oil prices sank $2.54 to $122.19 a barrel on the New York Mercantile Exchange, extending their two-week-long retreat from record highs above $147. The prospect of lower energy costs for U.S. consumers, along with a modest uptick in the Conference Board's July index of consumer confidence to 51.9 from 51 in June, came as welcome news. Consumer spending accounts for more than two-thirds of U.S. economic activity.

"The thinking is that oil prices are heading lower, and that's obviously a positive for the market," said Richard E. Cripps, chief market strategist for Stifel Nicolaus.

A stock bounce was hardly unexpected, though, after the Dow lost nearly 240 points Monday on worries about the sagging financial sector. Wall Street is torn: Energy prices, if they continue on their downward path, could provide big relief to consumers, but credit losses keep mounting at the nation's major banks. The result is big swings in the market but little consistent direction.

"We're living from one piece of news to the next," said Alan Gayle, senior investment strategist for RidgeWorth Capital Management. The market's volatility, exacerbated by light summer trading volumes, is likely to continue unless it gets further evidence that oil prices are, indeed, on their way down, and that banks have already seen the bulk of their losses.

In a sign that there could be additional asset markdowns for banks, Merrill Lynch & Co. announced late Monday that it was writing down another $5.7 billion and selling assets tied to risky debt at a steep discount to Lone Star Funds, a distressed debt investor.

Still, Merrill's moves at least answered lingering questions about the health of the brokerage's balance sheet. And many analysts said the asset sale could help to finally establish a market for all the hard-to-value securities held by various financial institutions.

"The bad news is, there's going to be write-downs. The better news is, we can estimate those write-downs with better clarity," Gayle said.

According to preliminary calculations, the Dow gained 266.48, or 12.39 percent, to 11,397.56.

Broader stock indicators also climbed. The Standard & Poor's 500 index rose 28.83, or 2.34 percent, to 1,263.20, and the Nasdaq composite index rose 55.40, or 2.45 percent, to 2,319.62.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street soared for the second straight day Wednesday, rallying in the last hour of trading after a rebound in financial stocks and optimism about private sector jobs. Investors brushed off a sharp jump in oil prices. The Dow Jones industrials rose more than 180 points, bringing its two-day gain to more than 450.

The NYSE DOW closed HIGHER by +186.13 points +1.63%  on Wednesday July 30

Sym Last........ ........Change..........
Dow 11,583.69 +186.13 +1.63% 
Nasdaq 2,329.72 +10.10 +0.44% 
S&P 500 1,284.26 +21.07 +1.67% 
10 Yr Bond(%) 4.0480% +0.0040 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,420.70 +101.50 +1.91% 
DAX 6,460.12 +61.32 +0.96% 
CAC 40 4,400.55 +80.06 +1.85% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 13,367.79 +208.34 +1.58% 
Hang Seng 22,690.60 +432.60 +1.94% 
Straits Times 2,925.50 +38.94 +1.35% 

http://biz.yahoo.com/ap/080730/wall_street.html
*Stocks surge higher, led by financial sector*
Wednesday July 30, 5:38 pm ET 
By Tim Paradis, AP Business Writer  
*Wall Street extends gains as financial stock rally offsets higher oil prices *

NEW YORK (AP) -- Wall Street soared for the second straight day Wednesday, rallying in the last hour of trading after a rebound in financial stocks and optimism about private sector jobs.
Investors brushed off a sharp jump in oil prices. The Dow Jones industrials rose more than 180 points, bringing its two-day gain to more than 450.

Bank and brokerage stocks, many trading at multiyear lows, turned higher and led the late advance. There was some relief in the market after the Federal Reserve said it would extend and expand its program to lend money to investment banks. The central bank's move reassured the market that the banks would have cash if they needed it.

Investors have been worried that some of Wall Street's biggest names will be slashing prices on more of their assets -- and needing more money -- after Merrill Lynch & Co. unexpectedly announced a $5.7 billion write-down late Monday.

"There's a growing sense that what we saw out of Merrill Lynch is the beginning of the end for the financial cleanup," said Craig Peckham, market strategist at Jefferies & Co. He added that the ADP number was also a good sign for the economy.

Earlier, Automatic Data Processing said private sector employment rose by 9,000 this month. After seeing jobs disappear by the thousands in recent months, the stock market is eager for any insights into the Labor Department's take on the job market on Friday.

The ADP news helped offset a big spike in the price of oil after a weekly Energy Department report on domestic supplies showed a surprise increase. Israeli Prime Minister Ehud Olmert's announcement that he plans to resign in September stirred concerns about the viability of Middle East peace efforts and rising tensions with Iran.

Light, sweet crude rose $4.58 to settle at $126.77 on the New York Mercantile Exchange. Oil has fallen sharply, however, since hitting a high above $147 on July 11. A drop in oil prices Tuesday contributed to a huge gain on Wall Street.

The late rally may also have been due to technical trading; in times of great volatility, many institutional investors start adjusting their holdings before the closing bell.

The Dow rose 186.13, or 1.63 percent, to 11,583.69. On Tuesday, the blue chips jumped 266 points, more than wiping out a nearly 240-point loss from the previous session.

Broader stock indicators also surged. The Standard & Poor's 500 index advanced 21.06, or 1.67 percent, to 1,284.26, and the Nasdaq composite index rose 10.10, or 0.44 percent, to 2,329.72.

Advancing issues outnumbered decliners by about 2 to 1 on the New York Stock Exchange, where consolidated volume came to 5.06 billion shares from 5.11 billion in the previous session.

Bond prices fell as stocks advanced, diminishing demand for the safety of government debt. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 4.05 percent from 4.04 percent late Tuesday.

The dollar was higher against other major currencies, while gold prices fell.

Shares of Morgan Stanley and Lehman Brothers Holdings Inc. climbed more than 5 percent, while Citigroup Inc. and Merrill Lynch rose about 2 percent.

Fannie Mae and Freddie Mac, the government-chartered mortgage companies which together hold or back nearly half of all U.S. mortgage debt, also rose on news of the Fed's latest moves. Fannie Mae advanced 45 cents, or 3.9 percent, to $12.05, while Freddie Mac rose 6 cents to $8.48.

Wall Street has been juggling a number of intertwined worries in recent months as it tries to determine where the economy is headed. There is continued concern about bad mortgage debt that many banks are holding because homeowners swept up in the pullback in the housing market are missing mortgage payments.

And the rapid rise in oil and other commodity prices this year has only made it harder for many consumers to keep up with their bills. Any sign of an easing in the credit and housing markets, or a drop in energy prices, offers some investors hope that the economy could begin to recover.

Investors are anxious for the government's advance reading on second quarter gross domestic product, which is due Thursday. Economists expect that, while it might not feel like it to many consumers, the economy is still eking out growth. A good chunk of it may be due to government tax rebates.

In earnings news, Starbucks Corp. said costs related to its closure of 600 underperforming stores led it to post a loss in its fiscal third quarter. However, it matched Wall Street projections.

The Walt Disney Co. said third-quarter profits surged nearly 9 percent thanks to revenue growth at ESPN and strong results from its theme park near Paris, where the weak U.S. dollar was helpful.

The Russell 2000 index of smaller companies rose 4.31, or 0.60 percent, to 718.86.

Overseas, Japan's Nikkei stock average rose 1.58 percent. Britain's FTSE 100 jumped 1.91 percent, Germany's DAX index advanced 0.96 percent, and France's CAC-40 jumped 1.85 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street sank Thursday, after weak readings on economic growth and the job market touched off renewed concerns about the financial health of businesses and consumers. The Dow Jones industrial average fell more than 200 points.

The NYSE DOW closed LOWER by -205.67 points	-1.78% on Thursday July 31

Sym Last........ ........Change..........
Dow	11,378.02	-205.67	-1.78%
Nasdaq	2,325.55	-4.17	-0.18%
S&P 500	1,267.38	-16.88	-1.31%
30-yr Bond	4.6030%	-0.0350

NYSE Volume	5,316,791,000
Nasdaq Volume	2,387,055,750

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,411.90	-8.80	-0.16%
DAX	6,479.56	+19.44	+0.30%
CAC 40	4,392.36	-8.19	-0.19%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,376.81	+9.02	+0.07%
Hang Seng	22,731.10	+40.50	+0.18%
Straits Times	2,929.65	+4.15	+0.14%

http://biz.yahoo.com/ap/080731/wall_street.html
*Wall Street slides on GDP, jobless data*
Thursday July 31, 4:23 pm ET
By Tim Paradis, AP Business Writer
*Stocks sink on disappointing gross domestic product reading, jump in jobless claims*

NEW YORK (AP) -- Wall Street sank Thursday, after weak readings on economic growth and the job market touched off renewed concerns about the financial health of businesses and consumers. The Dow Jones industrial average fell more than 200 points.

The Commerce Department's report that gross domestic product grew at a 1.9 percent pace in the second quarter disappointed investors. Economists polled by Thomson Financial/IFR had expected growth of 2.4 percent in the broad measure of the economy's health.

Investors were also concerned about Labor Department data saying that the number of people seeking jobless benefits jumped to the highest level in five years. Economists warned the weekly figures can be volatile, however, and some dismissed them as an aberration.

A $4.5 billion cash offer from Bristol-Myers Squibb Co. for its cancer drug partner ImClone Systems Inc. kept the Nasdaq composite index from falling as sharply as other indexes. In other positive news, oil prices declined, and an index of Midwestern business activity indicated growth.

But Wall Street could not shake off its worries about the economy -- particularly after sobering remarks from Former Federal Reserve Chairman Alan Greenspan on CNBC late in the afternoon. Greenspan said he would be more surprised if the United States did not enter recession than if it did.

The comments came after Treasury Secretary Henry Paulson said in a speech in Washington that the economy will continue to grow at a moderate pace for the rest of the year, and the government's $168 billion stimulus package had helped grease the economy's wheels.

But Larry Smith, chief investment officer at Third Wave Global Investors in Greenwich, Conn., said tightness in credit markets and high oil prices continue to weigh on the economy and the stimulus package won't deliver a permanent fix.

"Tax rebates have been a very effective way of propping up the economy in the second quarter, and less so in the third quarter," Smith said. "To fix the economic growth problems, you have to restore liquidity to the system."

According to preliminary calculations, the Dow Jones industrial average fell 205.67, or 1.78 percent, to 11,378.02, continuing its string of erratic, triple-digit daily swings.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 16.88, or 1.31 percent, to 1,267.38, while the Nasdaq fell 4.17, or 0.18 percent, to 2,325.55.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average ended the week down 44.37, or 0.39 percent, at 11,326.32. The Standard & Poor's 500 index finished up 2.62, or 0.21 percent, at 1,260.31. The Nasdaq composite index ended the week up 0.43, or 0.02 percent, at 2,310.96 .

Wall Street retreated again Friday after readings on jobs and manufacturing -- the first reports for the third quarter -- indicated that businesses and workers still face a tough economy. The major indexes ended a turbulent week narrowly mixed.

A massive quarterly loss at General Motors Corp. and rising oil prices also gave investors reason to trade cautiously. But the market was considerably calmer than the first four sessions of the week, when the Dow Jones industrials rose or fell by triple digits each day in response to economic data or news about the financial sector.

The NYSE DOW closed LOWER by -51.70 points	-0.45% on Friday August 1

Sym Last........ ........Change..........
Dow	11,326.32	-51.70	-0.45%
Nasdaq	2,310.96	-14.59	-0.63%
S&P 500	1,260.31	-7.07	-0.56%
30-yr Bond	4.5690%	-0.0340

NYSE Volume	4,714,448,500
Nasdaq Volume	2,194,012,000

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,354.70	-57.20	-1.06%
DAX	6,396.46	-83.10	-1.28%
CAC 40	4,314.34	-78.02	-1.78%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,094.59	-282.22	-2.11%
Hang Seng	22,862.60	+131.50	+0.58%
Straits Times	2,906.07	-23.58	-0.80%

http://biz.yahoo.com/ap/080801/wall_street.html
*Stocks pull back after another decline in jobs*
Friday August 1, 6:11 pm ET
By Madlen Read, AP Business Writer
*Wall Street pulls back on rise in unemployment rate, flat manufacturing activity, GM loss*

NEW YORK (AP) -- Wall Street retreated again Friday after readings on jobs and manufacturing -- the first reports for the third quarter -- indicated that businesses and workers still face a tough economy. The major indexes ended a turbulent week narrowly mixed.

A massive quarterly loss at General Motors Corp. and rising oil prices also gave investors reason to trade cautiously. But the market was considerably calmer than the first four sessions of the week, when the Dow Jones industrials rose or fell by triple digits each day in response to economic data or news about the financial sector.

Friday's reports were not as poor as many analysts had anticipated, which likely accounted for the muted reaction. Nonetheless, they portrayed an economy that was still sagging as it entered the second half of the year. The Labor Department said jobs fell for the seventh straight month in July by 51,000 -- less than expected -- but that the unemployment rate rose to a greater-than-expected 5.7 percent. The report arrived after data Thursday that showed an unexpected jump in jobless claims to a five-year high.

"It reinforces the idea that we're seeing a steady, but not dramatic, decline in employment, which is likely to last for some time," said Michael Sheldon, chief market strategist at RDM Financial Group in Westport, Conn.

Meanwhile, the Institute for Supply Management said manufacturing activity was flat in July. Given Thursday's disappointing report on gross domestic product growth, Wall Street is becoming more certain that the United States is in a recession -- and one that could be prolonged. U.S. recessions since World War I have lasted about 10 months, on average, but have ranged from as little as six months to as long as 16 months, Sheldon said.

The flagging economy has sapped consumers' ability to spend freely, which in turn is hurting profits at many big companies. GM said it lost $15.5 billion in the second quarter, more than analysts predicted and the automaker's third-worst loss in its history.

There was also more bad news about construction; the Commerce Department reported that building activity declined in June. And the price of oil rose $1.02 to $125.10, retreating from an earlier gain of more than $4, but still signaling that its steep decline of recent weeks has at least temporarily been halted.

The Dow fell 51.70, or 0.45 percent, to 11,326.32. The blue-chip index ended the week down 0.39 percent.

Broader stock indicators also lost ground Friday. The Standard & Poor's 500 index fell 7.07, or 0.56 percent, to 1,260.31, and the Nasdaq composite index fell 14.59, or 0.63 percent, to 2,310.96.

Advancing issues, however, narrowly outnumbered decliners Friday on the New York Stock Exchange. Consolidated volume came to a relatively light 4.54 billion shares, down from 5.16 billion billion shares Thursday.

The S&P finished the week up 0.21 percent, and the Nasdaq finished up 0.02 percent.

Bond prices edged higher in Friday's trading. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.94 percent from 3.95 percent late Thursday. The dollar was mixed against other major currencies, while gold prices fell.

The market's performance the past few sessions shows how jumpy investors are. The Dow zigzagged up and down by hundreds of points as the market alternately agonized over the financial sector and signs of economic weakness, and then soared as investors decided things weren't really all that bad after all.

Some analysts believe that a stock market bottom may have been reached, even if an upswing isn't under way. Others, however, are more cautious and wondering if more declines are to come -- particularly after Merrill Lynch & Co. announced billions of dollars in extra credit-related declines this week.

However, most financial stocks performed well Friday, with investors are cautiously optimistic that banks and other financial services companies -- while still losing money on their hefty investments in troubled debt -- are starting to clean up their books.

Bond insurer Ambac Financial Group Inc. said it agreed to pay $850 million to settle one of its largest exposures to risky debt instruments called collateralized debt obligations. Ambac rose $1.27, or 50 percent, to $3.79, while rival MBIA Inc. rose $1.74, or 29 percent, to $7.67.

Other gainers included Dow component American International Group, up 74 cents, or 2.8 percent, at $26.79; Wachovia Corp., up $1.71, or 9.9 percent, at $18.98; and Lehman Brothers Holdings Inc., up $1.31, or 7.6 percent, at $18.65.

Shares of GM, another Dow component, gave up 84 cents, or 7.6 percent, to $10.23 after posting its quarterly loss.

Most companies' quarterly results have been surpassing Wall Street's forecasts. And beyond financial and consumer discretionary sectors, corporate earnings have been increasing.

"There is some room for optimism on the corporate profit front," Sheldon said. "But a lot will depend on consumers and energy prices for the remainder of the year."

Meanwhile, a few pharmaceutical stocks suffered sell-offs on Friday. Biogen Idec Inc. and Elan Corp. PLC fell due to safety concerns related to multiple sclerosis therapy Tysabri. Biogen dropped $19.75, or 28 percent, to $50.01, and Elan tumbled $10.12, or 50 percent, to $9.93.

The Russell 2000 index of smaller companies rose 1.64, or 0.23 percent, to 716.16.

Overseas, Japan's Nikkei stock average fell 0.14 percent. Britain's FTSE 100 fell 1.06 percent, Germany's DAX index declined 1.28 percent, and France's CAC-40 fell 1.78 percent.

The Dow Jones industrial average ended the week down 44.37, or 0.39 percent, at 11,326.32. The Standard & Poor's 500 index finished up 2.62, or 0.21 percent, at 1,260.31. The Nasdaq composite index ended the week up 0.43, or 0.02 percent, at 2,310.96.

The Russell 2000 index finished the week up 5.82, or 0.82 percent, at 716.16.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 12,888.21, up 51.11 points, or 0.40 percent, for the week. A year ago, the index was at 14,755.40.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street fell moderately Monday in an erratic session dominated by worries about inflation -- which were somewhat soothed by a steep drop in the price of oil.

Light, sweet crude closed down $3.69, or 2.9 percent, to settle at $121.41 a barrel on the New York Mercantile Exchange after Tropical Storm Edouard seemed unlikely to threaten oil and natural gas facilities in the Gulf of Mexico. It was the lowest settlement price since May 5 and left crude down nearly 20 percent from its July 11 high of $147.27.

The NYSE DOW closed LOWER by -42.17 points	-0.37% on Monday August 4

Sym Last........ ........Change..........
Dow	11,284.15	-42.17	-0.37%
Nasdaq	2,285.56	-25.40	-1.10%
S&P 500	1,249.01	-11.30	-0.90%
30-yr Bond	4.5890%	+0.0200

NYSE Volume	4,529,437,000
Nasdaq Volume	2,010,205,500

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,320.20	-34.50	-0.64%
DAX	6,349.81	-46.65	-0.73%
CAC 40	4,280.63	-33.71	-0.78%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,933.18	-161.41	-1.23%
Hang Seng	22,514.92	-347.68	-1.52%
Straits Times	2,876.08	-29.99	-1.03%

http://biz.yahoo.com/ap/080804/wall_street.html
*Stocks decline after oil falls sharply*
Monday August 4, 4:47 pm ET
By Tim Paradis, AP Business Writer
*Wall Street declines as drop in oil helps offset inflation worries; investors await Fed move*

NEW YORK (AP) -- Wall Street fell moderately Monday in an erratic session dominated by worries about inflation -- which were somewhat soothed by a steep drop in the price of oil.

Light, sweet crude closed down $3.69, or 2.9 percent, to settle at $121.41 a barrel on the New York Mercantile Exchange after Tropical Storm Edouard seemed unlikely to threaten oil and natural gas facilities in the Gulf of Mexico. It was the lowest settlement price since May 5 and left crude down nearly 20 percent from its July 11 high of $147.27.

That decline eased some of investors' concerns about inflation. Wall Street initially sold off after the Commerce Department said an inflation gauge tied to consumer spending rose by a sharp 0.8 percent in June, reflecting higher gasoline prices. That was the biggest jump in the indicator since a 1 percent rise in February 1981.

The data came in the department's report on consumer spending, which fell 0.2 percent in June after removing the effects of higher prices. The increase in inflation offset some of the billions in dollars in checks sent to taxpayers as part of the government's economic stimulus plan.

The report fed investors' growing concerns about the impact of rising prices on consumers, whose spending is the lifeblood of the economy.

Richard E. Cripps, chief market strategist for Stifel Nicolaus, said the economic readings Monday reinforced the negative sentiment in the markets globally. While the Federal Reserve will hold a regularly scheduled policy meeting on Tuesday, he contends investors aren't expecting much from the session; Wall Street is more immediately concerned with energy prices and prospects for the housing market.

"I don't think that the Fed can really pull any of its levers to create a short-term fix," he said. "To go higher, I think we need the sentiment to change with lower energy prices. Crude oil dropping below the $117 area certainly would provide a very visible benefit in terms of the economy but it also makes the problems seems a little bit less severe."

According to preliminary calculations, the Dow Jones industrial average fell 42.17, or 0.37 percent, to 11,284.15. The Dow had been down more than 100 points in early trading.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 11.30, or 0.90 percent, to 1,249.01, and the Nasdaq composite index declined 25.40, or 1.10 percent, to 2,285.56.

Many investors appeared to trade cautiously ahead of the Fed's meeting. The central bank is expected to keep interest rates steady at 2 percent, given the recent underwhelming readings on the economy. Inflation rose sharply for businesses in June as they paid higher prices for commodities, but it appears to have eased in July as the price of oil retreated in the second half of the month. That might take pressure off the Fed to raise rates as a means of containing inflation.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.98 percent from 3.94 percent late Friday. The dollar rose against other major currencies, while gold prices fell.

Investors seemed unmoved by a Commerce Department report that orders to U.S. factory jumped at the fastest pace in six months in June. The report reflected increases in petroleum prices and heavy demand for military equipment. Orders rose by 1.7 percent in June, more than double what had been expected. It was the biggest gain since December.

Steven Goldman, chief market strategist at Weeden & Co., said the up-and-down trading since Wall Street's recent lows in July are part of a necessary process as the market searches for a bottom.

"We're kind of going through a period of healing and trying to maybe etch out some kind of bottom," he said. "A lot of times you just don't reach a bottom and go straight up."

Goldman pointed to encouraging signs like drops in commodities beyond oil as well as declines in the number of stocks hitting new lows.

Meanwhile, U.S. corporate earnings reports for the second quarter were still arriving, but Monday's flow was lighter. Cisco Systems Inc., News Corp. and Procter & Gamble Co. all report earnings Tuesday.

Cisco fell ended unchanged at $21.99, News Corp. advanced 17 cents to $14.57 and P&G rose 87 cents to $65.82.

Declining issues outnumbered advancers by about 2 to 1 on the New York Stock Exchange, where volume came to 1.23 billion shares.

The Russell 2000 index of smaller companies fell 12.02, or 1.68 percent, to 704.14.

Overseas, Japan's Nikkei stock average fell 1.23 percent. Britain's FTSE 100 fell 0.64 percent. Germany's DAX index fell 0.73 percent, and France's CAC-40 lost 0.78 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

An already soaring Wall Street extended its advance Tuesday after the F ederal Reserve left interest rates unchanged and assuaged some of the market's fears about the economy. The Dow Jones industrial average shot up more than 330 points, and all the major indexes had gains approaching 3 percent.

The market was already enjoying a big rally before the Fed meeting, as investors responded to a report that services sector activity fell less than expected last month and to another drop in oil prices that took crude as low as $118 a barrel .

The NYSE DOW closed HIGHER by +331.62 points	+2.94% on Tuesday August 5

Sym Last........ ........Change..........
Dow	11,615.77	+331.62	+2.94%
Nasdaq	2,349.83	+64.27	+2.81%
S&P 500	1,284.88	+35.87	+2.87%
30-yr Bond	4.6290%	+0.0400

NYSE Volume	5,474,020,500
Nasdaq Volume	2,387,667,250

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,454.50	+134.30	+2.52%
DAX	6,518.70	+168.89	+2.66%
CAC 40	4,386.35	+105.72	+2.47%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,914.66	-18.52	-0.14%
Hang Seng	21,949.75	-565.17	-2.51%
Straits Times	2,860.51	-15.57	-0.54%

http://biz.yahoo.com/ap/080805/wall_street.html
*Wall Street extends rally after Fed decision*
Tuesday August 5, 4:38 pm ET
By Joe Bel Bruno, AP Business Writer
*Wall Street rallies after Fed eases some fears about the economy; Dow up 330 points*

NEW YORK (AP) --An already soaring Wall Street extended its advance Tuesday after the F ederal Reserve left interest rates unchanged and assuaged some of the market's fears about the economy. The Dow Jones industrial average shot up more than 330 points, and all the major indexes had gains approaching 3 percent.

The market was already enjoying a big rally before the Fed meeting, as investors responded to a report that services sector activity fell less than expected last month and to another drop in oil prices that took crude as low as $118 a barrel .

But the Fed gave stocks a huge push higher in the last hours of trading. In a statement accompanying its widely expected rate decision, the Fed reported that "economic activity expanded in the second quarter, partly reflecting growth in consumer spending and exports." That assessment was welcome news to a market that has feared the economy was falling into recession because of weak consumer spending.

The Fed did have some darker news, stating that "inflation has been high, spurred by the earlier increases in the prices of energy and some other commodities." But it also said it expected inflation to moderate later in the year.

"The wording is a little strong over inflation, but there's really no real change in policy," said Brian Gendreau, investment strategist for ING Investment Management. "I think they are trying to buy time to allow the economy to recover, and so that the financials can slowly repair."

Ryan Larson, senior equity trader at Voyageur Asset Management, said he believes the central bank will keep rates on hold until the early part of 2009. He said of Fed officials, "they seem more concerned about growth for the rest of this year, and I'd say right now they appear to be dovish for the short term."

The oil market also helped soothe some of Wall Street's worries -- crude fell as low as $118 a barrel before settling at $119.17, down $2.24 on the New York Mercantile Exchange. Oil has now fallen $28 from its July 11 high of $147.27 on widening expectations that the slumping U.S. economy will keep curbing consumer demand for gasoline and other petroleum products.

Stocks had plunged in June and early July as oil reached new heights; the fear on Wall Street was that higher prices for fuel would curtail consumer spending, which accounts for more than two-thirds of the economy. With oil falling, and the Fed citing economic growth in its statement Tuesday, investors were allowing themselves to again feel a little more optimistic after a year of financial crises and soaring commodities costs that have pummeled stocks.

The Dow rose 331.62, or 2.94 percent, to 11,615.77. It was up about 225 points shortly before the Fed's 2:15 p.m. EDT announcement.

Broader indexes also rose sharply. The Standard & Poor's 500 index added 35.87, or 2.87 percent, to 1,284.88, and the Nasdaq composite index rose 64.27, or 2.81 percent, to 2,349.83.

It was the Dow and S&P 500's biggest one-day gain since April 1, when the indexes kicked off the second quarter with a huge rally. This was also the Nasdaq's biggest point and percentage rise since mid-July.

Treasury bond prices fell after the Fed released its decision. The yield on the benchmark 10-year Treasury note, which moves opposite its prices, rose to 4.03 percent from 3.97 percent late Monday.

The dollar traded mostly higher against other major currencies, while gold prices fell.

Early in the session, shares rose sharply after the Institute for Supply Management, the trade group of corporate purchasing executives, said its services sector index rose to 49.5 from 48.2 in June. Analysts surveyed by Thomson Financial/IFR predicted it would rise to 49.0.

Any reading below 50 signals contraction. The report is based on a survey of the institute's members and covers such indicators as new orders, employment, inventories, prices and exports and imports.

The notion that the sector might be in better shape than many investors feared gave Wall Street reason for optimism.

Earnings reports continued to stream in. Procter & Gamble Co., maker of Tide detergent and Gillette razors, said its fiscal fourth-quarter profit jumped 33 percent, boosted by price increases, overseas sales and tax benefits. Shares rose $2.09, or 3.2 percent, to $67.91.

Archer Daniels Midland Co. reported a 61 percent plunge in fourth-quarter profit, but said revenues soared amid higher prices for commodities like wheat and corn. The stock fell $1.53, or 6 percent, at $25.87.

D.R. Horton Inc., the nation's largest homebuilder, posted a narrower fiscal third-quarter loss as charges to write down the value of property declined. Shares fell 5 cents to $11.17.

Advancing issues led decliners by a 3 to 1 basis on the New York Stock Exchange, where volume came to 1.32 billion shares.

The Russell 2000 index of smaller companies rose 16.90, or 2.40 percent, at 721.04.

Overseas, Japan's Nikkei stock average fell 0.15 percent. Britain's FTSE 100 rose 2.52 percent, Germany's DAX index rose 2.66 percent, and France's CAC-40 rose 2.47 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street logged another winning day Wednesday as a drop in oil prices and a better-than-expected profit report from technology bellwether Cisco Systems Inc. helped corral the market's worries about the financial sector.

Oil extended its slide into a third day. Light, sweet crude settled down 59 cents at $118.58 a barrel on the New York Mercantile Exchange after the government reported a jump in domestic inventories; oil is now down about $30 from its record high of $147.27 reached on July 11.

The NYSE DOW closed HIGHER by +40.30 points	+0.35% on Wednesday August 6

Sym Last........ ........Change..........
Dow	11,656.07	+40.30	+0.35%
Nasdaq	2,378.37	+28.54	+1.21%
S&P 500	1,289.18	+4.30	+0.33%
30-yr Bond	4.6900%	+0.0610

NYSE Volume	4,873,426,000
Nasdaq Volume	2,283,454,000

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,486.10	+31.60	+0.58%
DAX	6,561.39	+42.69	+0.65%
CAC 40	4,448.33	+61.98	+1.41%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,254.89	+340.23	+2.63%
Hang Seng	21,949.75	closed
Straits Times	2,886.78	+26.27	+0.92%

http://biz.yahoo.com/ap/080806/wall_street.html
*Wall Street advances after oil declines*
Wednesday August 6, 4:43 pm ET
By Tim Paradis, AP Business Writer
*Stocks rise as drop in oil offsets unease over Freddie Mac; Cisco helps lift tech names*

NEW YORK (AP) -- Wall Street logged another winning day Wednesday as a drop in oil prices and a better-than-expected profit report from technology bellwether Cisco Systems Inc. helped corral the market's worries about the financial sector.

Oil extended its slide into a third day. Light, sweet crude settled down 59 cents at $118.58 a barrel on the New York Mercantile Exchange after the government reported a jump in domestic inventories; oil is now down about $30 from its record high of $147.27 reached on July 11.

Cisco rose more 5 percent after the networking equipment company late Tuesday posted earnings that narrowly topped Wall Street's forecast. The report helped buoy sentiment and lifted the technology-heavy Nasdaq composite index.

The buying came a day after Wall Street had a huge rally -- an advance that in early trading Wednesday looked like it might not hold. Investors began the day fearing more industrywide write-downs of bad home loans after mortgage financier Freddie Mac reported a larger-than-expected second-quarter loss. But a reversal in oil prices, continuing a decline that propelled stocks sharply higher Tuesday, helped calm investors about the forces tugging at the economy.

The well-being of Freddie Mac and sister company Fannie Mae is a big concern on Wall Street as the government-chartered companies hold or back nearly half of all U.S. mortgage debt. The companies have lost billions of dollars due to failed loans over the past year; the federal government has pledged to help both companies with larger lines of credit or stock purchases if necessary.

Lincoln Anderson, chief investment officer and chief economist at LPL Financial in Boston, said that while the troubles in the financial sector aren't over, investors are somewhat emboldened by the fall in oil and signs of strength in the dollar.

"I think we're getting into better territory. I've been very much focused on the fall in oil prices as a necessary ingredient to avoid recession. To the extent that we're getting that that's just great," he said.

According to preliminary calculations, the Dow Jones industrial average rose 40.30, or 0.35 percent, to 11,656.07, after having been down nearly 100 points early in the session. The gain brought the Dow's two-day advance to about 370 points. The blue chips soared Tuesday on a reassuring economic statement from the Federal Reserve and another drop in oil prices.

Broader stock indicators also advanced again Wednesday. The Standard & Poor's 500 index rose 4.31, or 0.34 percent, to 1,289.19, and the Nasdaq rose 28.54, or 1.21 percent, to 2,378.37.

Bonds slipped as investors left the safety of government debt. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 4.04 percent from 4.02 percent late Tuesday. The dollar rose to eight-week highs against the euro and seven-month highs against the yen, while gold prices fell.

Investors showed enthusiasm for technology names Wednesday. Cisco rose $1.28, or 5.7 percent, to $23.93 after its report. Microsoft Corp., one of the 30 stocks that make up the Dow, rose 81 cents, or 3.1 percent, to $27.02.

Freddie Mac fell $1.55, or 19 percent, to $6.49, while Fannie Mae fell $2.00, or 15 percent, to $11.60. Freddie Mac, which substantially increased its reserves for souring loans, lost about three times what Wall Street expected on a per-share basis. The company also announced that it expects to cut its third-quarter dividend.

Other financial stocks fell as investors worried about the sector. Citigroup Inc. slipped 22 cents to $19.70, while Wachovia Corp. fell 65 cents, or 3.4 percent, $18.41.

J. Stephen Lauck, chief executive and portfolio manager at Ashfield Capital Partners in San Francisco, said impressions about the health of the financial sector will continue to shape investor sentiment.

"It's a very cautious environment," he said. "What we need in this market is for the financial stocks to stabilize. I think they'll stabilize well before the housing market fixes itself."

Lauck said the housing sector will likely take several years to recover. But in the meantime, the drop in energy prices is offering investors some solace.

"This commodity pullback is very timely because I think it does take that stress point away from the market," he said.

But even with the pullback in oil prices investors appeared cautious about placing bets on companies that do best when consumers are in a mood to spend. Rising commodity costs have hurt consumers, whose spending accounts for more than two-thirds of U.S. economic activity. Among consumer discretionary stocks, TJX Cos., parent of the T.J. Maxx and Marshalls chains, fell 91 cents, or 2.6 percent, to $34.47.

Sprint Nextel fell $1.21, or 14 percent, to $7.34 after posting a second-quarter loss on severance and other costs.

Advancing issues outnumbered decliners by about 9 to 7 on the New York Stock Exchange, where volume came to 1.2 billion shares compared with 1.32 billion Tuesday.

The Russell 2000 index of smaller companies rose 4.86, or 0.67 percent, to 725.90.

Overseas, Japan's Nikkei stock average rose 2.63 percent. Britain's FTSE 100 rose 0.58 percent, Germany's DAX index added 0.65 percent and France's CAC-40 jumped 1.41 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average ended the week up 408.00, or 3.60 percent, at 11,734.32. The Standard & Poor's 500 index finished up 36.01, or 2.86 percent, at 1,296.32. The Nasdaq composite index ended the week up 103.14, or 4.46 percent, at 2,414.10.

Wall Street rebounded smartly Friday, shooting higher as a surge in the dollar and another plunge in oil prices eased some of investors' worries about losses at mortgage finance company Fannie Mae. The Dow Jones industrials soared more than 300 points, more than wiping out a big loss from the previous session, and all the major indexes had their best weekly gains since April.

The NYSE DOW closed HIGHER by +302.89 points 	+2.65% on Friday August 8

Sym Last........ ........Change..........
Dow	11,734.32	+302.89	+2.65%
Nasdaq	2,414.10	+58.37	+2.48%
S&P 500	1,296.31	+30.25	+2.39%
30-yr Bond	4.5550%	-0.0090

NYSE Volume	4,981,754,000
Nasdaq Volume	2,255,885,000

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,489.20	+11.70	+0.21%
DAX	6,561.65	+18.16	+0.28%
CAC 40	4,491.85	+34.42	+0.77%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,168.41	+43.42	+0.33%
Hang Seng	21,885.21	-218.99	-0.99%
Straits Times	2,807.54	-27.17	-0.96%

http://biz.yahoo.com/ap/080808/wall_street.html
*Stocks jump as oil prices fall sharply*
Friday August 8, 5:52 pm ET
By Tim Paradis, AP Business Writer
*Stocks surge after rise in dollar and drop in oil ease worries about financials; Dow jumps 300*

NEW YORK (AP) -- Wall Street rebounded smartly Friday, shooting higher as a surge in the dollar and another plunge in oil prices eased some of investors' worries about losses at mortgage finance company Fannie Mae. The Dow Jones industrials soared more than 300 points, more than wiping out a big loss from the previous session, and all the major indexes had their best weekly gains since April.

The session extended a streak of volatility that has seen the Dow making frequent triple-digit moves as investors reacted feverishly to news about the financial sector, corporate earnings and the economy.

On Friday, the dollar, which has sagged along with the economy, reached its highest level against the euro since February, and in the process sent a wave of confidence through the stock market. And because the dollar's strength has contributed to the recent skid in oil prices, light, sweet crude dropped sharply again, falling $4.82 a barrel to settle at $115.20 on the New York Mercantile Exchange. That brought crude's decline over the past four weeks to more than $30.

Investors see the drop in oil as a big boost for the economy, because it should allow consumers to spend more freely. For the moment, that has allowed the market to set aside nervousness about the financial sector, which is still contending with the fallout from the year-old credit crisis.

Fresh financial worries surfaced Friday after Fannie Mae, the largest U.S. buyer and backer of home loans, reported a quarterly loss more than three larger than what Wall Street had expected and said it would slash its quarterly dividend to conserve cash.

Philip S. Dow, managing director of equity strategy at RBC Dain Rauscher in Minneapolis, said that while the strength in the dollar and the resulting drop in oil were attracting buyers Friday, Wall Street's recent back-and-forth trading illustrates investors' great anxiety.

"We live in a market where people react, they don't anticipate," he said. "So you've got this market that's kind on a seesaw every day reacting to news."

The Dow rose 302.89, or 2.65 percent, to 11,734.32. The blue chips fell nearly 225 points Thursday after concerns about the financial sector, a weak showing by retailers in July and a spike in weekly unemployment claims; Friday's advance marked the seventh time in two weeks that the Dow rose or fell by triple digits.

Broader indicators also rose sharply Friday. The Standard & Poor's 500 index advanced 30.25, or 2.39 percent, to 1,296.32 and the Nasdaq composite index advanced 58.37, or 2.48 percent, to 2,414.10.

For the week, the Dow rose 3.6 percent, the S&P gained 2.9 percent and the technology-heavy Nasdaq jumped 4.5 percent. It was their best weekly performance since the week ended April 18.

Bonds ticked lower as stocks jumped, easing demand for the safety of government debt. The yield on the benchmark 10-year Treasury note, which moves opposite its prices, rose to 3.94 percent from 3.93 percent late Thursday. Gold prices fell. Prices rebounded in after-hours trading, sending the 10-year yield to 3.93 percent.

The dollar's rise against the euro came after the European Central Bank and the Bank of England separately left their benchmark interest rates unchanged Thursday. With the ECB signaling more rate hikes aren't likely, the euro wasn't as attractive as an investment option.

Kelli Hill, a portfolio manager at Ashfield Capital Partners in San Francisco, said a more robust dollar not only makes commodities like oil less expensive but can also offer a much-needed dose of faith in the U.S. markets and economy.

"People want to sell on anything or buy on anything," she said, noting that light trading volume can exacerbate the market's gyrations. "Strengthening in the dollar is a good thing not only for business but also to build back confidence both domestically and internationally."

She is optimistic the markets will recover and said the rebound could come swiftly once the money sitting on the sidelines gets a sense that the economy is poised to turn higher.

The falling price of oil also overshadowed a Labor Department report showing that U.S. workers' efficiency grew at a slightly slower pace in the second quarter. Worker productivity grew at an annual rate of 2.2 percent. Economists surveyed by Thomson/IFR had predicted growth would come in at 2.7 percent compared with 2.6 percent in the first quarter. Still, some market watchers said any gains are positive.

Fannie Mae reported a loss of $2.3 billion, or $2.54 a share. Analysts surveyed by Thomson Financial had expected the company to report a loss of 68 cents a share. The company also said it would cut its quarterly dividend to 5 cents from 35 cents. Fannie Mae fell 90 cents, or 9 percent, to $9.05.

The report from Fannie Mae follows a loss Wednesday from fellow mortgage financier Freddie Mac that was more than three times larger than Wall Street analyst had expected.

McDonald's Corp. said strong demand for breakfast items helped lifted global same-store sales 8 percent in July. The world's largest hamburger chain said same-store sales, or sales at locations open at least a year, rose 6.7 percent in the U.S. The stock, one of the 30 that comprise the Dow industrials, rose $3.81, or 6.2 percent, to $65.67 after reaching a new high of $66.24.

While the drop in oil helped stocks in general, certain sectors like the airlines, which have been hit by soaring fuel prices, showed steep gains. United Airlines parent UAL Corp. jumped $1.52, or 16 percent, to $11.13, and Continental Airlines Inc. rose $1.73, or 12 percent, to $16.48.

Advancing issues outnumbered decliners by about 3 to 1 on the New York Stock Exchange, where consolidated volume came to a relatively light 4.82 billion shares compared with 5.09 billion shares traded Thursday.

The Russell 2000 index of smaller companies rose 20.89, or 2.93 percent, to 734.30.

Global wasn't affected by a 4.5 percent drop Friday in the Shanghai Composite Index. China's benchmark index fell to its lowest level in nearly 19 months over investor disappointment that a rally tied to the Beijing Olympic games didn't develop.

Elsewhere overseas, Japan's Nikkei stock average rose 0.33 percent. Britain's FTSE 100 rose 0.21 percent, Germany's DAX index rose 0.28 percent, and France's CAC-40 rose 0.77 percent.

The Dow Jones industrial average ended the week up 408.00, or 3.60 percent, at 11,734.32. The Standard & Poor's 500 index finished up 36.01, or 2.86 percent, at 1,296.32. The Nasdaq composite index ended the week up 103.14, or 4.46 percent, at 2,414.10.

The Russell 2000 index finished the week up 18.14, or 2.53 percent, at 734.30.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 13,197.13, up 308.92 points, or 2.40 percent, for the week. A year ago, the index was at 14,641.03.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Stocks ended higher Monday but well off their peak after crude oil prices pulled off their lows and the Federal Reserve said more banks are tightening lending standards.

The decline in oil since last month has eased investors' concerns about the drag of rising prices on the economy, but its move off its lowest levels Monday deflated a stock market rally that built upon steep gains last week. Light, sweet crude fell 75 cents to settle at $114.45 per barrel on the New York Mercantile Exchange after dipping to $112.72, its lowest price since early May.

The NYSE DOW closed HIGHER by +48.03 points	+0.41% on Monday August 11.

Sym Last........ ........Change..........
Dow	11,782.35	+48.03	+0.41%
Nasdaq	2,439.95	+25.85	+1.07%
S&P 500	1,305.31	+9.00	+0.69%
30-yr Bond	4.6110%	+0.0560

NYSE Volume	5,068,678,000
Chart for NYSE Volume
Nasdaq Volume	2,321,577,750

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,541.80	+64.30	+1.17%
DAX	6,609.63	+47.98	+0.73%
CAC 40	4,538.49	+46.64	+1.04%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,430.91	+262.50	+1.99%
Hang Seng	21,859.34	-25.87	-0.12%
Straits Times	2,825.39	+17.85	+0.64%

http://biz.yahoo.com/ap/080811/wall_street.html
*Stocks end higher, extending last week's gains*
Monday August 11, 4:43 pm ET
By Tim Paradis, AP Business Writer
*Stocks pare gains but end higher as oil declines, Fed reports banks tightening standards*

NEW YORK (AP) -- Stocks ended higher Monday but well off their peak after crude oil prices pulled off their lows and the Federal Reserve said more banks are tightening lending standards.

The decline in oil since last month has eased investors' concerns about the drag of rising prices on the economy, but its move off its lowest levels Monday deflated a stock market rally that built upon steep gains last week. Light, sweet crude fell 75 cents to settle at $114.45 per barrel on the New York Mercantile Exchange after dipping to $112.72, its lowest price since early May.

The Fed's report reminded investors that the nation's credit situation is still deeply troubled. The central bank said about 75 percent of the banks it surveyed in July had increased requirements for prime mortgages, up from about 60 percent in April. The tighter standards can make it more expensive and difficult for borrowing that could stimulate the economy.

Falling oil prices and the continuing problems in the financial sector have competed for Wall Street's attention in recent sessions, with oil sending stocks higher and credit-related news tending to limit or halt the rallies.

Jim Hardesty, president of Hardesty Capital Management in Baltimore, said the decline in oil will take some pressure off the economy.

"We have a speculative bubble in prices that's giving way to what now I think are more moderate levels," he said, referring to oil's surge higher this year. "I think we can look forward to a resumption of an improvement in equity prices based on still-good earnings coming out of many companies."

According to preliminary calculations, the Dow Jones industrial average rose 48.03, or 0.41 percent, to 11,782.35, after being up more than 130 points. The gains Monday follow the blue chips' 300-point jump Friday.

Broader stock indicators also advanced Monday. The Standard & Poor's 500 index rose 9.00, or 0.69 percent, to 1,305.32. The Nasdaq composite index rose 25.85, or 1.07 percent, to 2,439.95, after names like Amazon.com Inc. jumped $7.58, or 9.4 percent, to $88.09 following release of upbeat comments from analysts.

Other consumer discretionary stocks rose as investors saw the drop in oil as likely to leave more cash consumers' wallets. That's a welcome prospect; consumer spending accounts for more than two-thirds of U.S. economic activity.

Target Corp. rose $2.49, or 5.1 percent, to $51.23, while Starbucks Corp. rose $1.18, or 7.8 percent, to $16.30.

Advancing issues outnumbered decliners by about 5 to 3 on the New York Stock Exchange, where volume came to a light 1.26 billion shares compared with 1.25 billion Friday. Light trading can exacerbate the market's moves.

The drop in oil prices, which have fallen more than $30 from their July 11 high of $147.27, has alleviated some of Wall Street's worries about inflation and its effect on spending. Oil traders on Monday appeared to set aside uneasiness about fighting between Russia and Georgia that had raised the possibility of supply disruptions in the region; they focused instead on a rising dollar and a report from China that its crude oil imports fell significantly in July.

Ryan Larson, senior equity trader at Voyageur Asset Management, said the final moves by oil appeared to turn some investors more cautious, as did the Fed report.

"You see a little steam coming out of equities," he said, pointing to the effect of oil's partial recovery. "People are trying to lock in some moves."

Traders didn't appear surprised that some investors looked to cash in gains. The jump in stocks Friday led the Dow industrials to a run-up of 3.60 percent for the week. The Standard & Poor's 500 index advanced 2.86 percent last week and the Nasdaq composite index added 4.46 percent. It was the best week for the indexes since April.

The dollar, whose recent strength has helped drive oil lower, was mostly higher Monday against other major currencies. Gold prices fell.

Bond prices fell sharply as traders again transferred money to the stock market. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 4.01 percent from 3.94 percent late Friday.

In corporate news, Waste Management Inc. said it was increasing its buyout bid for rival Republic Services by 9 percent to $37 per share. The nation's largest trash hauler is willing to pay about $6.99 billion for Republic Services, which rejected an offer of $6.19 billion, or $34 a share, in July. Waste Management rose 10 cents to $36.11, while Republic rose 19 cents to $35.05.

Calpine Corp. rose 61 cents, or 3.8 percent, to $16.60 after the power producer said it swung to a profit in the second-quarter from a loss a year earlier following an increase in electricity rates and lower costs. The company earned 41 cents per share; analysts expected a profit of 10 cents a share, according to Thomson Financial.

The Russell 2000 index of smaller companies rose 16.76, or 2.28 percent, to 751.06.

Wall Street seemed unfazed by a pullback in China's benchmark Shanghai Composite Index, which fell 5.2 percent Monday after economic figures showed wholesale price inflation jumped to its highest level in 12 years in July.

Elsewhere overseas, Japan's Nikkei stock average rose 1.99 percent. Britain's FTSE 100 rose 0.96 percent, Germany's DAX index advanced 0.73 percent, and France's CAC-40 rose 1.04 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

A red day all around!

Wall Street skidded lower Tuesday as downbeat news from JPMorgan Chase & Co. and other financial companies lifted the market's anxiety about the continuing impact of the credit crisis on the economy. The Dow Jones industrials fell nearly 140 points.

The latest reminder of continuing troubles for banks and brokerages came when JPMorgan said late Monday it has incurred wider losses in its mortgage holdings so far in the third quarter than in the second quarter. The nation's second-largest bank by assets said in a regulatory filing it lost $1.5 billion, after hedges, in its mortgage-backed securities and loans this quarter, compared to $1.1 billion in the second three months of 2008.

The NYSE DOW closed LOWER by -139.88 points	-1.19% on Tuesday August 12.

Sym Last........ ........Change..........
Dow	11,642.47	-139.88	-1.19%
Nasdaq	2,430.61	-9.34	-0.38%
S&P 500	1,289.59	-15.72	-1.20%
30-yr Bond	4.5520%	-0.0590

NYSE Volume	4,716,084,000
Nasdaq Volume	2,104,963,750

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,534.50	-7.30	-0.13%
DAX	6,585.87	-23.76	-0.36%
CAC 40	4,518.48	-20.01	-0.44%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,303.60	-127.31	-0.95%
Hang Seng	21,640.89	-218.45	-1.00%
Straits Times	2,816.82	-8.57	-0.30%

http://biz.yahoo.com/ap/080812/wall_street.html
*Stocks fall sharply amid financial sector concerns*
Tuesday August 12, 5:58 pm ET
By Joe Bel Bruno, AP Business Writer
*Wall Street falls sharply as investors grow concerned about losses at financial companies*

NEW YORK (AP) -- Wall Street skidded lower Tuesday as downbeat news from JPMorgan Chase & Co. and other financial companies lifted the market's anxiety about the continuing impact of the credit crisis on the economy. The Dow Jones industrials fell nearly 140 points.

The latest reminder of continuing troubles for banks and brokerages came when JPMorgan said late Monday it has incurred wider losses in its mortgage holdings so far in the third quarter than in the second quarter. The nation's second-largest bank by assets said in a regulatory filing it lost $1.5 billion, after hedges, in its mortgage-backed securities and loans this quarter, compared to $1.1 billion in the second three months of 2008.

The losses were proof to investors that the financial sector's problems appear to be nowhere near a resolution.

Meanwhile, Goldman Sachs Group Inc. fell after several analysts lowered their ratings and earnings estimates for the investment bank. And UBS AG, Switzerland's largest bank, reported further losses and write-downs of $5.1 billion during the second quarter.

The market's losses were mitigated for part of the session by a drop in the price of oil -- an illustration of the ongoing push-and-pull on Wall Street between oil prices and any news about financials. The erratic trading has led to a series of triple-digit moves up and down in the Dow in the past few weeks, including Tuesday's drop.

Oil trading was buffeted Tuesday by several factors: differing views on whether global demand is falling or rising, and word from BP PLC that it had shut down an oil pipeline that runs through Georgia as a precautionary measure due to the fighting between Georgian and Russian troops. Light, sweet crude settled down $1.44 at $113.01 a barrel on the New York Mercantile Exchange.

The price of crude has fallen more than $30 from its July 11 high of $147.27, easing concerns on Wall Street about inflation -- but on Tuesday, the anxiety over the financial sector overwhelmed any relief about oil prices.

"Some of the big bellwether financial-services companies are precipitating the correction that we're seeing," said Phil Orlando, chief equity market strategist at Federated Investors of Tuesday's retreat by stocks. Still, he said the run-up in stocks since oil began falling last month has made occasional retrenchments not unexpected.

The Dow fell 139.88, or 1.19 percent, to 11,642.47.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 15.73, or 1.21 percent, to 1,289.59, and the Nasdaq composite index fell 9.34, or 0.38 percent, to 2,430.61.

Bond prices rose as stocks fell and investors, once again uneasy about the financial sector, when back in search of safer investments. In late trading, the yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.90 percent from 4.00 percent late Monday.

The dollar was higher against most other major currencies, while gold prices fell.

A Commerce Department report showed the nation's trade deficit shrank in June, rather than growing as expected. The trade imbalance dropped 4.1 percent to $56.8 billion in June from a revised May deficit of $59.2 billion, as exports rose to an all-time high. It was the smallest deficit in three months and was better than the $61.5 billion Wall Street expected.

Ryan Detrick, senior technical strategist at Schaeffer's Investment Research, said any good news of the day was simply overshadowed by the latest concerns about the financial services sector. Banks and brokerages have taken more than $300 billion of write-downs since the credit crisis began last year.

"The financial worries have just crept back in," Detrick said. "But, given the rally we had last week, we're still holding on if you look at the big picture. We were due for some kind of a break."

The Dow had gained 350 points over the previous two sessions.

JPMorgan fell $3.90, or 9.3 percent, to $37.99. The stock plunged in late trading after Ladenburg Thalman analyst Richard X. Bove lowered his earnings estimates for the year.

Goldman Sachs declined $11.21, or 6.3 percent, to $166.79 after the analyst downgrades of some of its ratings.

Wachovia Corp. fell $2.17, or 11.9 percent, to $16.04 after it announced plans to cut 600 more jobs than it previously expected as it tries to slash costs because of losses on mortgage debt. The bank also said in a quarterly regulatory filing that it has recorded an additional $500 million in legal reserves related to its settlement discussions with regulators concerning the sale of auction-rate securities.

UBS fell $1.34, or 6.2 percent, to $20.35. The company also said it will separate its divisions such as private banking and investment banking to bolster investor confidence.

Declining issues outnumbered advancers by about 2 to 1 on the New York Stock Exchange, where consolidated volume was virtually unchanged from Monday's 4.98 billion shares.

The Russell 2000 index of smaller companies fell 6.12, or 0.81 percent, to 744.94.

Overseas, Japan's Nikkei stock average fell 0.95 percent. Britain's FTSE 100 fell 0.13 percent, Germany's DAX index declined 0.36 percent and France's CAC-40 fell 0.44 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street ended an erratic day Wednesday with a lopsided loss, as blue chip stocks bore the brunt of investors' concerns over the health of the financial sector. The Dow Jones industrials fell more than 100 points, but the other major indexes finished with single-digit losses.

High-tech and small-cap stocks fared better than the broader market, proof that investors were wary and choosy. The market started the day disappointed by the government's retail sales report, and a jump in oil prices further dampened the market's mood.

The NYSE DOW closed LOWER by -109.51 points 	-0.94% on Wednesday August 13.

Sym Last........ ........Change..........
Dow	11,532.96	-109.51	-0.94%
Nasdaq	2,428.62	-1.99	-0.08%
S&P 500	1,285.82	-3.77	-0.29%
30-yr Bond	4.5760%	+0.0240

NYSE Volume	4,794,351,000
Nasdaq Volume	2,050,547,620

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,448.60	-85.90	-1.55%
DAX	6,422.19	-163.68	-2.49%
CAC 40	4,402.97	-115.51	-2.56%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,023.05	-280.55	-2.11%
Hang Seng	21,293.32	-347.57	-1.61%
Straits Times	2,811.79	-5.03	-0.18%

http://biz.yahoo.com/ap/080813/wall_street.html
*Stocks end an erratic day with lopsided loss*
Wednesday August 13, 4:47 pm ET
By Sara Lepro, AP Business Writer
*Wall Street closes down after an erratic day dominated by worries about the financial sector*

NEW YORK (AP) -- Wall Street ended an erratic day Wednesday with a lopsided loss, as blue chip stocks bore the brunt of investors' concerns over the health of the financial sector. The Dow Jones industrials fell more than 100 points, but the other major indexes finished with single-digit losses.

High-tech and small-cap stocks fared better than the broader market, proof that investors were wary and choosy. The market started the day disappointed by the government's retail sales report, and a jump in oil prices further dampened the market's mood.

With many investors on vacation, and therefore fewer people trading, price moves were exaggerated.

"We're in that part of the summer where volume tends to be light, conviction tends to be minimal," said Joseph V. Battipaglia, chief investment officer at Ryan Beck & Co.

The Commerce Department said retail sales slipped 0.1 percent as rising prices helped offset the effect of economic stimulus payments to U.S. households. Excluding a big drop in sales of automobiles, retail sales rose 0.4 percent. But even on that basis it was the weakest showing in five months.

Wall Street had expected sales to remain flat after a minor increase in June. The report followed a warning from department store bellwether Macy's Inc. that its full-year profits would fall short of expectations because of slower sales.

The retail numbers pointed to a consumer who remains uneasy about spending. And because consumers' spending accounts for more than two-thirds of the economy, the fear on Wall Street is that the nation is in for a prolonged period of slow or even no growth.

The advance in oil prices also tinged investor sentiment. Light, sweet crude rose $2.99 to $116 a barrel on the New York Mercantile Exchange after the government said U.S. crude supplies fell unexpectedly last week.

Financials, which are well-represented in indexes like the Dow, were weak, but other sectors bounced back from their lows earlier in the day.

According to preliminary calculations, the Dow fell 109.51, or 0.94 percent, to 11,532.96 after falling more than 150 points earlier in the session and just under 140 points on Tuesday.

The Standard & Poor's 500 index slipped 3.76, or 0.29 percent, to 1,285.83, while the Nasdaq composite index fell 1.99, or 0.08 percent, to 2,428.62.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street rebounded Thursday, rising sharply as oil prices fell and investors took advantage of bargains in financial stocks after two straight days of heavy declines.

Crude backtracked as traders who sent oil soaring Wednesday in response to declining gasoline supplies realized that demand for fuel is still falling. Light, sweet crude fell 99 cents to settle at $115.01 a barrel on the New York Mercantile Exchange. The pullback helped reassure stock traders who are concerned that rising oil and gas prices would force consumers to keep paring back their spending.

The NYSE DOW closed HIGHER +82.97 points +0.72% on Thursday August 14.

Sym Last........ ........Change..........
Dow 11,615.93 +82.97 +0.72% 
Nasdaq 2,453.67 +25.05 +1.03% 
S&P 500 1,292.93 +7.10 +0.55% 
30-yr Bond 4.5190% -0.0570 

NYSE Volume 4,124,515,750 
Nasdaq Volume 1,890,236,250 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,497.40 +48.80 +0.90% 
DAX 6,442.21 +20.02 +0.31% 
CAC 40 4,420.91 +17.94 +0.41% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 12,956.80  -0.51%
Hang Seng 21,392.71 +99.39 +0.47% 
Straits Times 2,816.66 +4.87 +0.17% 

http://biz.yahoo.com/ap/080814/wall_street.html
*Wall Street ends higher, buoyed by drop in oil*
Thursday August 14, 6:06 pm ET 
By Sara Lepro, AP Business Writer  
*Stocks end higher after oil prices fall, investors turn to financial stocks for bargains *

NEW YORK (AP) -- Wall Street rebounded Thursday, rising sharply as oil prices fell and investors took advantage of bargains in financial stocks after two straight days of heavy declines.

Crude backtracked as traders who sent oil soaring Wednesday in response to declining gasoline supplies realized that demand for fuel is still falling. Light, sweet crude fell 99 cents to settle at $115.01 a barrel on the New York Mercantile Exchange. The pullback helped reassure stock traders who are concerned that rising oil and gas prices would force consumers to keep paring back their spending.

Stocks initially fell after the Labor Department reported another hefty jump in consumer prices. The 0.8 percent overall rise in July's Consumer Price Index was not as large as June's increase, but it was twice as high as the market expected, and brings inflation to its highest annual pace in 17 years. The core index, which eliminates food and energy prices, is not up as much, but it still rose by 0.3 percent last month -- slightly more than forecast.

The market turned higher as investors began looking more positively at stock prices that were beaten down the past two sessions amid rising anxiety about credit losses at banks and brokerages.

"The greater fear right now is missing the next big rally," said Richard Dickson, senior analyst at Lowry Research in Florida. "Inflation numbers were bad, but they are probably going to get better. The fact that the market has not sold off with any strength, investors are saying, 'Hey, let's go ahead and buy.'"

Still, Wall Street has been highly volatile for months, and investors found it hard to hold to their enthusiasm; stocks came off their highs late in the day as some uncertainty about financials crept back into the market.

"(Investors) have different opinions as to what the value of those companies are given the tremendous difficulties they face," said Kevin Dorwin, a principal with San Francisco-based Bingham, Osborn & Scarborough.

The Dow Jones industrial index rose 82.97, or 0.72 percent, to close at 11,615.93, after rising more than 180 points earlier. It lost a total of nearly 250 points on Tuesday and Wednesday.

The Standard & Poor's 500 index rose 7.10, or 0.55 percent, to 1,292.93, and the Nasdaq composite index rose 25.05, or 1.03 percent, to 2,453.67.

New York Stock Exchange consolidated volume came to very light 3.99 billion shares, down from Wednesday's 4.68 billion. Advancing issues outnumbered decliners by about 2 to 1 on the NYSE, and about 3 to 2 on the Nasdaq Stock Market.

Bonds rose higher after the Labor Department's data, in late trading. The yield on the benchmark 10-year Treasury note, which moves opposite its price, dipped to 3.90 percent from 3.94 percent late Wednesday.

The dollar was mixed against other major currencies, while gold prices fell.

The Labor Department also said Thursday that first-time claims for unemployment benefits fell by 10,000 last week -- less than anticipated and a sign that the labor market is still pinched because of the weak economy. But investors seemed relatively unfazed by the latest economic data, as it reflects conditions in July, when oil prices hovered around a high of $140 a barrel.

With oil prices falling since mid-July, investors have grown optimistic and are looking ahead, anticipating that August's economic data will reflect this decline.

"There has been a sufficient amount of pessimism to warrant a short-term rally," said Chris Johnson, chief executive and chief investment strategist at Johnson Research. "Money is on the sideline waiting to move in."

Reports of more credit losses at banks such as UBS AG and JPMorgan Chase & Co. had sent shares tumbling earlier this week. But those declines made many companies look more attractive Thursday. Moreover, with many investors on vacation, and therefore fewer people trading, price moves were exaggerated.

JPMorgan Chase and Morgan Stanley became the latest financial firms to settle with regulators over their sale of auction-rate securities when they agreed Thursday to repurchase a combined $7 billion of the investments. The companies will also pay a combined $60 million in fines.

JPMorgan Chase rose 90 cents to close at $37.81, while Morgan Stanley rose 49 cents to $40.64.

Investors were pleased with Wal-Mart Stores Inc.'s earnings; the world's largest retailer reported a 17 percent rise in second quarter profit and raised its full-year outlook. The discounter has benefited from the economic slowdown, as U.S. shoppers search for lower prices.

Wal-Mart gained 22 cents to $58.10. The news pulled up other retailers, including Target Corp., which rose $1.58, or 3.3 percent, to $49.65. Macy's Inc., which on Wednesday posted a lower second-quarter profit and warned that its full-year earnings will fall short of expectations, jumped 56 cents, or 2.7 percent, to $21.22.

Airlines also showed sharp gains Thursday, buoyed by the falling price of oil.

AMR Corp., the parent company of American Airlines, gained 42 cents, or 3.9 percent, to $11.28, while UAL Corp., operator of United Airlines, rose 62 cents, or 5.1 percent, to $12.68. Delta Air Lines Inc. rose 48 cents, or 5.8 percent, to $8.82.

The Russell 2000 index, which primarily tracks small companies, rose 6.69, or 0.89 percent, to 754.38.

Overseas, Japan's Nikkei stock average fell 0.51 percent. Britain's FTSE 100 rose 0.90 percent, Germany's DAX index rose 0.31 percent, and France's CAC-40 rose 0.41 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average ended the week down 74.42, or 0.63 percent, at 11,659.90. The Standard & Poor's 500 index finished up 1.88, or 0.15 percent, at 1,298.20. The Nasdaq composite index ended the week up 38.42, or 1.59 percent, at 2,452.52.

Wall Street closed mixed Friday after playing out a now familiar scenario: Upbeat sentiment about falling oil prices flagged amid ongoing concerns about weak credit markets and the economy. The major indexes also turned in a mixed performance after another volatile week.

The NYSE DOW closed HIGHER +43.97 points	+0.38% on Friday August 15.

Sym Last........ ........Change..........
Dow	11,659.90	+43.97	+0.38%
Nasdaq	2,452.52	-1.15	-0.05%
S&P 500	1,298.20	+5.27	+0.41%
30-yr Bond	4.4730%	-0.0460

NYSE Volume	4,102,091,750
Nasdaq Volume	1,797,293,250

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,454.80	-42.60	-0.77%
DAX	6,446.02	+3.81	+0.06%
CAC 40	4,453.62	+32.71	+0.74%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,019.41	+62.61	+0.48%
Hang Seng	21,160.58	-232.13	-1.09%
Straits Times	2,797.50	-19.16	-0.68%

http://biz.yahoo.com/ap/080815/wall_street.html
*Wall Street ends mixed on credit concerns, oil*
Friday August 15, 6:01 pm ET
By Sara Lepro, AP Business Writer
*Wall Street ends mixed as concerns over credit markets offset declining oil prices*

NEW YORK (AP) -- Wall Street closed mixed Friday after playing out a now familiar scenario: Upbeat sentiment about falling oil prices flagged amid ongoing concerns about weak credit markets and the economy. The major indexes also turned in a mixed performance after another volatile week.

Investors were encouraged early in the session as oil's pullback lifted the outlook for consumer companies and eased concerns that record-high energy prices would force Americans to curb spending. Light, sweet crude dropped $1.24 to settle at $113.77 a barrel on the New York Mercantile Exchange, and earlier traded as low as $111.34, its lowest level in more than three months.

Oil fell on a growing sense that economies around the world are joining the U.S. in a slowdown. The rising dollar, which is gaining strength on economic concerns, contributed to the sell-off in crude and other commodities. Crude is down more than $35 from its July 11 record of $147.27; meanwhile, gold prices that swept past $1,000 an ounce earlier this year are now below $800.

While the decline in oil was placating investors this week, it still did not offset their ever-present anxiety over the slumping housing and credit markets. Concerns about more write-downs at investment banks continued, causing major market indexes to fluctuate over the course of the week; the Dow Jones industrials continued a volatile streak, dropping more than 100 points two days in a row amid intensifying fears about the health of the financial sector.

"With some of this sharp price collapse in commodities you would think the market would be up a lot more," said Greg Church, chief investment officer of Church Capital Management. "The underlying factor is that credit continues to appear to be very weak."

The Dow rose 43.97, or 0.38 percent, to 11,659.90.

Broader indexes were narrowly mixed. The Standard & Poor's 500 index rose 5.26, or 0.41 percent, to 1,298.20, while the Nasdaq composite index fell 1.15, or 0.05 percent, to 2,452.52.

Volume remained extremely light, exaggerating moves in the major indexes. On the New York Stock Exchange, advancing issues were relatively even with decliners; consolidated volume came to 3.99 billion, about even with Thursday.

For the week, the Dow finished down 0.63 percent and the S&P 500 rose a modest 0.15 percent. The tech-focused Nasdaq, however, logged its fifth-straight weekly gain by finishing up 1.59 percent; it has risen 8.5 percent since mid-July.

The market has been trying to sort through a number of different factors, including the price of oil and other commodities, ongoing concerns about the state of the credit markets and varying economic data. Investors seem to be grabbing on to any piece of news that might signal a turnaround for the economy.

The Nasdaq's performance this week indicates that investors are rotating back into technology stocks. However, the market has had little motivation to move into other sectors -- and analysts said many traders are simply buying into the dips.

The uncertainty in the market has increased demand for the safety of government debt, which rose modestly Friday. In late trading, the yield on the benchmark 10-year Treasury note, which moves opposite its price, slid to 3.84 percent from 3.90 percent late Thursday.

The dollar rose against other major currencies, contributing to Friday's pullback in oil and other commodities.

The day brought somewhat disappointing news about consumers. The University of Michigan reported a slightly smaller-than-expected rise in consumer sentiment in early August compared with July, evidence that the consumer remains under pressure.

Moreover, earnings outlooks from retailers J.C. Penney Co. and Abercrombie & Fitch Co. on Friday came in below forecasts.

"At the beginning of this year, earnings expectations started to drop precipitously, and the stock market dropped with them," said Scott Bleier, founder of market advisory service CreateCapital.com. "Those expectations got built into the stock market and to an excess. A lot of stocks discounted all of the bad news that was out there."

New York Attorney General Andrew Cuomo said Friday he plans to take legal action against Merrill Lynch & Co. as part of an ongoing investigation into the failure of the auction-rate securities market. Wachovia Corp., meanwhile, became the fifth bank in recent weeks to agree to repurchase billions of the investments as part of a settlement with regulators.

Merrill Lynch shares rose 4 cents to $26.33. Wachovia fell 24 cents, or 2.5 percent, to $15.57.

Airline stocks rose on the drop in oil. AMR Corp., the parent company of American Airlines, gained 46 cents, or 4.1 percent, to $11.74. However, shares of major oil companies declined, with ConocoPhillips down $1.71, or 2.1 percent, at $77.66.

The Russell 2000 index, which tracks small-cap stocks, fell 1.01, or 0.13 percent, to 753.37.

Overseas, Japan's Nikkei stock average rose 0.48 percent. Britain's FTSE 100 fell 0.66 percent, Germany's DAX index rose 0.06 percent, and France's CAC-40 rose 0.60 percent.

The Dow Jones industrial average ended the week down 74.42, or 0.63 percent, at 11,659.90. The Standard & Poor's 500 index finished up 1.88, or 0.15 percent, at 1,298.20. The Nasdaq composite index ended the week up 38.42, or 1.59 percent, at 2,452.52.

The Russell 2000 index finished the week up 19.07, or 2.60 percent, at 753.37.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 13,271.88, up 74.75 points, or 0.57 percent, for the week. A year ago, the index was at 14,531.52.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street retreated Monday after Fannie Mae and Freddie Mac fell to their lowest levels in nearly 20 years on concerns that the government might need to bail out the mortgage financiers. Weakness in the overall financial sector sent the Dow Jones industrial average down more than 175 points.

The NYSE DOW closed LOWER -180.02 points	-1.54% on Monday August 18.

Sym Last........ ........Change..........
Dow	11,479.88	-180.02	-1.54%
Nasdaq	2,416.98	-35.54	-1.45%
S&P 500	1,278.67	-19.53	-1.50%
30-yr Bond	4.4410%	-0.0320

NYSE Volume	3,360,803,250
Nasdaq Volume	1,607,233,625

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,450.20	-4.60	-0.08%
DAX	6,432.88	-13.14	-0.20%
CAC 40	4,448.84	-4.78	-0.11%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,165.45	+146.04	+1.12%
Hang Seng	20,930.67	-229.91	-1.09%
Straits Times	2,776.98	-20.52	-0.73%

http://biz.yahoo.com/ap/080818/wall_street.html
*Wall Street pulls back as financials fall*
Monday August 18, 4:38 pm ET
By Tim Paradis, AP Business Writer
*Stocks slide as financial sector falls amid continued credit worries; Fannie, Freddie tumble*

NEW YORK (AP) -- Wall Street retreated Monday after Fannie Mae and Freddie Mac fell to their lowest levels in nearly 20 years on concerns that the government might need to bail out the mortgage financiers. Weakness in the overall financial sector sent the Dow Jones industrial average down more than 175 points.

Investors were again uneasy about the health of financial companies after media reports of further problems in the sector. Barron's said the U.S. Treasury might have to bail out government-chartered Fannie and Freddie, which, the weekly noted, would likely wipe out shareholders' equity in the companies.

Meanwhile, The Wall Street Journal, citing unidentified sources, reported that Lehman Brothers Holdings Inc. might surprise Wall Street with weaker-than-expected third-quarter results.

The continuing bad news about financials wasn't a surprise, but it nonetheless depressed a market that is hoping for concrete signs that banks and brokerages can put the year-old credit crisis behind them and return to significant profit growth.

Even neutral news about the housing market couldn't ease Wall Street's mood. The National Association of Home Builders monthly index on the housing market remained flat at 16 in August. That met the expectations of economists surveyed by Thomson Financial/IFR. Benchmarks related to current sales and expectations of future sales improved, but apparently not enough to move investors to buy.

Todd Leone, managing director of equity trading at Cowen & Co., said the worries about Fannie and Freddie dominated market sentiment in an otherwise light day.

"It'll be one of the slowest days of the year and I think it just kind of fed into itself," he said, referring to the effects of very light volume and the unease over the mortgage companies.

According to preliminary calculations, the Dow Jones industrial average fell 180.51, or 1.55 percent, to 11,479.39. The Dow had been down about 225 points at its lows of the session.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 19.60, or 1.51 percent, to 1,278.60, and the Nasdaq composite index fell 35.54, or 1.45 percent, to 2,416.98.

Last week, the Dow finished lower, but the S&P and the Nasdaq composite index ended higher, with financial sector problems again helping to bring stocks down.

Fannie Mae shares fell $1.76, or 22 percent, to $6.15, and Freddie Mac fell $1.46, or 25 percent, to $4.39, after the Barron's report. The stocks traded at levels not seen since the early 1990s.

Lehman shares fell $1.14, or 7.1 percent, to $15.03, after the Journal's report.

UnionBanCal Corp. was one of the exceptions in the financial sector. Japanese bank Mitsubishi UFJ Financial Group Inc. raised its bid to buy the rest of UnionBanCal, the California bank that it partially owns, to $7.69 a share in a deal worth $3.5 billion. UnionBanCal shares rose $7.69, or 12 percent, to $73.18.

Oil prices declined slightly after briefly jumping above $115 per barrel as Tropical Storm Fay approached Florida, but appeared unlikely to disrupt installations in the Gulf of Mexico. Light, sweet crude fell 90 cents to settle at $112.87 a barrel on the New York Mercantile Exchange, after rising as high as $115.35.

Crude's retreat -- by last week it had fallen more than $35 from its record high of $147.27 set July 11 -- has given the stock market a boost over the past month. But Wall Street has generally backtracked from its rallies amid continuing signs of problems among financial companies and also on unexpected signs of weakness in the economy.

Bonds rose modestly. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.82 percent from 3.84 percent late Friday.

On Monday, the dollar was mixed against other major currencies, while gold prices rose.

John Merrill, chief investment officer at Tanglewood Wealth Management, said investors are realizing that the financial sector troubles aren't likely to soon disappear.

"The degree and depth of what's happening in the financial industry is beyond anything we've seen in decades and it takes time to get your arms around the severity of what's happening and what the long-term and short-term ramifications are," he said.

In corporate news, Lowe's Cos. rose 4 cents to $24.54 after issuing a third-quarter forecast that came in below analysts' expectations, adding to investors' uneasiness about consumer spending and also about the housing market. The home improvement retailer, however, posted a smaller-than-expected decline in second-quarter profit, and raised its outlook for the year.

The Russell 2000 index of smaller companies fell 11.40, or 1.51 percent, to 741.97.

Declining issues outnumbered advancers by about 3 to 1 on the New York Stock Exchange, where volume came to a very light 986 million shares.

Overseas, Japan's Nikkei stock average rose 1.12 percent. Britain's FTSE 100 fell 0.08 percent, Germany's DAX index fell 0.20 percent, and France's CAC-40 fell 0.11 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

A big red day all around!

Wall Street fell sharply for a second straight session Tuesday after a hefty jump in wholesale inflation and a drop in new home construction gave investors more reason to believe an economic recovery is far off. The Dow Jones industrial average dropped 130 points.

The NYSE DOW closed LOWER -130.84 points -1.14% on Tuesday August 19.

Sym Last........ ........Change..........
Dow 11,348.55 -130.84 -1.14% 
Nasdaq 2,384.36 -32.62 -1.35% 
S&P 500 1,266.69 -11.91 -0.93% 
30-yr Bond 4.4690% +0.0280 

NYSE Volume 4,200,627,000 
Nasdaq Volume 1,785,854,250 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,320.40 -129.80 -2.38% 
DAX 6,282.43 -150.45 -2.34% 
CAC 40 4,332.79 -116.05 -2.61% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 12,865.05 -300.40 -2.28% 
Hang Seng 20,484.37 -446.30 -2.13% 
Straits Times 2,728.39 -48.59 -1.75% 

http://biz.yahoo.com/ap/080819/wall_street.html
*Stocks fall on inflation data, financial worries*
Tuesday August 19, 5:38 pm ET 
By Madlen Read, AP Business Writer  
*Stocks drop after bigger-than-expected jump in wholesale inflation; financial worries remain *

NEW YORK (AP) -- Wall Street fell sharply for a second straight session Tuesday after a hefty jump in wholesale inflation and a drop in new home construction gave investors more reason to believe an economic recovery is far off. The Dow Jones industrial average dropped 130 points.

The Labor Department said its Producer Price Index rose by 1.2 percent in July, more than double the expected rate, and lifting the current annual rate to the loftiest level in 27 years. Even after stripping out food and energy, core prices rose by a higher-than-expected 0.7 percent, the biggest increase since November 2006.

"Maybe investors were hoping to shrug off the challenges of high commodity prices and inflation," said Jack A. Ablin, chief investment officer at Harris Private Bank. "But now we find out that perhaps the inflation situation is worse than we thought."

A rebound in oil prices added to investors' anxiety, which had abated slightly in recent weeks as crude tumbled from its July record above $147 a barrel to three-month lows.

Oil's retreat over the past month had given the stock market a brief rally. But aside from August's commodities drop, there have been few bright spots on Wall Street this summer; the banks are forecasting more losses, the credit markets are still tight, the housing market remains in a slump and the economy continues to lose jobs -- all of which gives investors little reason to buy stocks.

The Commerce Department added to the heap of downbeat news Tuesday, reporting that July housing starts fell to an annual rate of 965,000 units -- higher than analysts predicted, but the lowest level in more than 17 years nonetheless.

And the financial sector took another hit after a JPMorgan Chase & Co. analyst estimated that Lehman Brothers Holdings Inc. will have to write down its investments during the third quarter by $4 billion, and a Goldman Sachs analyst advised against buying the stock of American International Group Inc.

With the nation's financial institutions low on available cash due to their poor investments in the mortgage markets, consumers and businesses are having a harder time getting loans -- another hindrance for the economy.

The Dow fell 130.84, or 1.14 percent, to 11,348.55, after losing 180 points on Monday. It was the worst two-day performance for the blue-chip index since late June.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 11.90, or 0.93 percent, to 1,266.70, and the Nasdaq composite index fell 32.62, or 1.35 percent, to 2,384.36.

Declining issues outnumbered advancers by about 11 to 4 on the New York Stock Exchange, where consolidated volume came to a light 4.07 billion shares, up from 3.75 billion Monday.

Anthony Conroy, managing director and head trader for BNY ConvergEx Group, pointed out that trading volumes have been low, which can exacerbate price movements. Still, he said, Tuesday's pair of government reports suggest a tough environment for stocks.

"Coupling the two, you have slow growth with higher inflation," Conroy said.

Bond prices were mixed. While investors often seek the shelter of government debt when bad news arrives, inflation is a deterrant because it devalues the debt's fixed returns. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.84 percent from 3.82 percent late Monday.

The dollar fell against other major currencies, driving up oil. Gold prices also turned higher.

Crude rebounded Tuesday by $1.66 to $114.53 a barrel on the New York Mercantile Exchange.

Lehman fell $1.96, or 13 percent, to $13.07. There have been reports that the investment bank might have to sell part of the company to raise cash.

AIG shares fell $1.28, or 5.9 percent, to $20.32 after Goldman Sachs' analyst note, which predicted $9 billion to $20 billion in losses in the insurer's credit default swap portfolio. Credit default swaps are essentially insurance to protect against a bond default.

Retailers reported weak quarterly results, reflecting the ongoing pullback in consumer spending.

Home Depot Inc. reported a 24 percent decline in its second-quarter earnings. They topped Wall Street's expectations, but shares fell $1, or 3.7 percent, to $25.96.

Target Corp. said its second-quarter earnings fell 7.5 percent. It, too, beat forecasts but shares fell 33 cents to $49.72.

And Saks Inc. reported a wider-than-expected loss in the second quarter as its affluent shoppers cut back on apparel. The luxury goods retailer also issued a downbeat forecast for the year. Shares dropped 93 cents, or 8.3 percent, to $10.29.

The Russell 2000 index of smaller companies fell 11.94, or 1.61 percent, to 730.03.

Overseas, Japan's Nikkei stock average lost 2.28 percent. Britain's FTSE 100 fell 2.38 percent, Germany's DAX index fell 2.34 percent, and France's CAC-40 fell 2.61 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street scored a moderate gain after a volatile session Wednesday that saw the major indexes ratchet up and down on the seesawing price of oil and mixed feelings about the financial sector.

Concerns about mortgage financiers Fannie Mae and Freddie Mac initially dragged down financials. Wall Street is nervous that the government-chartered companies will need a bailout from the Treasury Department, a move that could wipe out shareholders' equity. Fannie Mae shares tumbled nearly 27 percent, while Freddie Mac shares lost 22 percent.

The NYSE DOW closed HIGHER +68.88 points	+0.61% on Wednesday August 20.

Sym Last........ ........Change..........
Dow	11,417.43	+68.88	+0.61%
Nasdaq	2,389.08	+4.72	+0.20%
S&P 500	1,274.54	+7.85	+0.62%
30-yr Bond	4.4430%	-0.0260

NYSE Volume	4,570,038,500
Nasdaq Volume	1,794,873,880

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,371.80	+51.40	+0.97%
DAX	6,317.80	+35.37	+0.56%
CAC 40	4,365.87	+33.08	+0.76%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,851.69	-13.36	-0.10%
Hang Seng	20,931.26	+446.89	+2.18%
Straits Times	2,751.75	+23.36	+0.86%

http://biz.yahoo.com/ap/080820/wall_street.html
Wall Street finishes erratic day higher
Wednesday August 20, 4:44 pm ET
By Tim Paradis, AP Business Writer
Stocks end higher after volatile session; many financials rise despite nervousness over sector

NEW YORK (AP) -- Wall Street scored a moderate gain after a volatile session Wednesday that saw the major indexes ratchet up and down on the seesawing price of oil and mixed feelings about the financial sector.

Concerns about mortgage financiers Fannie Mae and Freddie Mac initially dragged down financials. Wall Street is nervous that the government-chartered companies will need a bailout from the Treasury Department, a move that could wipe out shareholders' equity. Fannie Mae shares tumbled nearly 27 percent, while Freddie Mac shares lost 22 percent.

But because financial stocks have fallen so far over the past few days, some traders appeared to be covering many of their short positions, which drove a large portion of bank and brokerage stocks higher late in the day, said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners Inc. Short-covering is a way to offset a bet that a stock will fall.

Some stocks had turned higher earlier in the day as well after Fannie Mae Chief Executive Daniel Mudd said the concerns about the company's financial position are overblown.

"They haven't offered anything and we haven't asked for anything," Mudd said, referring to the federal government in a public radio interview Wednesday morning. "I don't anticipate that they will do that."

Meanwhile, oil prices finished higher -- bad news for consumers, but a boost to energy company stocks, which also attracted buying on Wednesday.

According to preliminary calculations, the Dow Jones industrial average rose 68.88, or 0.61 percent, to 11,417.43 after being down by nearly 60 points and up more than 100. Concerns about inflation and the financial sector led the Dow to post its worst two-day performance since late June on Monday and Tuesday with an overall drop of about 310 points.

Broader stock indicators also ended Wednesday with a gain. The Standard & Poor's 500 index rose 7.85, or 0.62 percent, to 1,274.54, while the Nasdaq composite index rose 4.72, or 0.20 percent, to 2,389.08.

Oil, which has rebounded this week after dropping $35 from its July 11 high of $147.27, ended up modestly, even after the Energy Department said crude oil inventories rose much more than forecast last week.

Energy costs remain a concern because of their effect on overall inflation. Government reports last week and on Tuesday showed larger-than-expected increases in prices faced by consumers and businesses.

Light, sweet crude rose 45 cents to $114.98 per barrel on the New York Mercantile Exchange, after alternating between gains and losses.

Bond prices rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.79 percent from 3.84 percent late Tuesday.

The dollar rose against other major currencies. Gold prices also rose.

Alan Haft, chief executive of Haft Financial in Newport Beach, Calif., contends that worries about the financial sector aren't likely to ease and that it will remain difficult to determine the severity of losses that financial companies are suffering from bad mortgage debt.

"I think there is still a lot of fear in the market in terms of the financial sector," he said.

Fannie Mae and Freddie Mac collectively back or hold nearly half of all mortgage debt in the U.S. Investors are worried that losses at the companies and other financial names will deepen as homeowners fall behind on mortgage payments and other bills.

Wall Street is also fearful that the sharp rise in energy and food costs seen this year are only placing more pressure on already cash-strapped consumers.

Fannie Mae fell $1.61, or nearly 27 percent, to $4.40, while Freddie Mac fell 92 cents, or 22 percent, to $3.25.

Results from Hewlett Packard Co. offered investors some hope that areas like technology could fare better than financials. Hewlett Packard rose $2.47, or 5.7 percent, to $46.16 after posting better-than-expected quarterly results late Tuesday. It was the biggest gainer among the 30 stocks that make up the Dow Jones industrial average.

Advancing issues outnumbered decliners by about 8 to 7 on the New York Stock Exchange, where volume came to 1.07 billion shares.

The Russell 2000 index of smaller companies rose 1.57, or 0.22 percent, to 731.60.

Overseas, Japan's Nikkei stock average slipped 0.10 percent. Britain's FTSE 100 rose 0.97 percent, Germany's DAX index advanced 0.56 percent, and France's CAC-40 rose 0.76 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street finished mixed Thursday after investors largely shrugged off a jump in oil prices and focused instead on a bullish call on Lehman Brothers Holdings Inc. that eased worries about the financial sector.

Stocks closed off their lows of the session after a Ladenburg Thalmann analyst raised his rating on Lehman to "buy," saying he believes the nation's fourth-biggest investment bank has become a hostile takeover candidate. That call helped ease concerns about that company as well as the financial sector, which has been hit by a spike in bad mortgage debt.

The NYSE DOW closed HIGHER +12.78 points	+0.11% on Thursday August 21

Sym Last........ ........Change..........
Dow	11,430.21	+12.78	+0.11%
Nasdaq	2,380.38	-8.70	-0.36%
S&P 500	1,277.72	+3.18	+0.25%
30-yr Bond	4.4650%	+0.0220

NYSE Volume	4,088,145,250
Nasdaq Volume	1,571,928,620

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,370.20	-1.60	-0.03%
DAX	6,236.96	-80.84	-1.28%
CAC 40	4,304.61	-61.26	-1.40%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,752.21	-99.48	-0.77%
Hang Seng	20,392.06	-539.20	-2.58%
Straits Times	2,713.47	-38.28	-1.39%

http://biz.yahoo.com/ap/080821/wall_street.html
*stocks end mixed on rising oil, financial worries*
Thursday August 21, 6:11 pm ET
By Tim Paradis, AP Business Writer
*Stocks end mixed as oil prices rise; financials see partial recovery on bullish call on Lehman*

NEW YORK (AP) -- Wall Street finished mixed Thursday after investors largely shrugged off a jump in oil prices and focused instead on a bullish call on Lehman Brothers Holdings Inc. that eased worries about the financial sector.

Stocks closed off their lows of the session after a Ladenburg Thalmann analyst raised his rating on Lehman to "buy," saying he believes the nation's fourth-biggest investment bank has become a hostile takeover candidate. That call helped ease concerns about that company as well as the financial sector, which has been hit by a spike in bad mortgage debt.

The partial recovery in financials as well as gains by energy producers themselves helped contain investors' anxiety over a jump in oil of more than $5 a barrel. Prices rose as investors questioned whether tensions with Russia would disrupt energy shipments from the world's second-largest oil producer. Often an uptick in oil will fan Wall Street's fears of inflation.

"It's remarkable how well the market has held up," said Quincy Krosby, chief investment strategist for The Hartford, referring to the performance of stocks in the face of a jump in oil. She said the gains by the energy sector helped corral selling pressure on a day of light volume, which can lead to volatility.

The Dow Jones industrial average rose 12.78, or 0.11 percent, to 11,430.21. It was the second straight session of moderate gains for the blue chips after heavy losses the first two days of the week.

Broader stock indicators ended mixed Thursday. The Standard & Poor's 500 index rose 3.18, or 0.25 percent, to 1,277.72, and the Nasdaq composite index fell 8.70, or 0.36 percent, to 2,380.38.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.83 percent from 3.80 percent late Wednesday.

Gold prices jumped as the dollar moved lower against other major currencies.

Light, sweet crude surged $5.62 to settle at $121.18 a barrel on the New York Mercantile Exchange. Stocks recovered after oil retreated from a session high of $122.04 -- a trading level not seen since Aug. 4.

While oil prices remain well off their July 11 high of $147.27, any rebound can be worrisome because inflation readings this week and last week showed prices rose for consumers and businesses at a faster pace than expected.

Investors responded to Thursday's climb in oil by sending shares of energy companies higher. Exxon Mobil Corp. and Chevron Corp. were among the strongest performers of the 30 stocks that make up the Dow industrials. Exxon rose $1.54, or 2 percent, to $80.35, while Chevron rose $2.06, or 2.4 percent, to $88.52.

But the rise in oil also weighed on some sectors, such as airlines. United Airlines parent UAL Corp. fell $1.07, or 8.6 percent, to $11.33, while Continental Airlines Inc. fell 82 cents, or 5.4 percent, to $14.34.

With the focus on oil and financials, investors looked past most economic readings. The Philadelphia Fed said regional manufacturing activity was negative for the ninth straight month. The Conference Board's leading economic indicators report, which is designed to predict economic activity in the next three to six months, showed its largest drop in a year in July.

Investors also seemed unimpressed by a larger-than-expected decrease in weekly unemployment claims from newly laid-off workers. The Labor Department said claims fell by 13,000 to 432,000 last week. But the four-week moving average rose to 445,750, a nearly seven-year high.

A shaky job market has been slamming consumers who also face a tighter credit climate, rising costs and falling home prices. That is troubling to investors as consumer spending accounts for more than two-thirds of U.S. economic activity.

"All three reports tend to indicate that we're bottoming out but that there is no real end in sight and that's what I think the market has to get used to," said Doug Roberts, chief investment strategist at Channel Capital Research.

The fluctuations of oil and financials again dictated the mood on Wall Street Thursday. A slew of analysts have been downgrading banks and brokerages over the past few weeks, and late Wednesday, a Citigroup analyst lowered his third-quarter estimates for Lehman Brothers, Goldman Sachs Group Inc. and Morgan Stanley. He predicted Lehman will write down its assets by $2.9 billion, that Goldman will write down $1.8 billion and that Morgan will write down $1.7 billion.

But the Ladenburg Thalmann analyst's note helped the sector, by arguing that Lehman Brothers' management values the company at a premium and would be willing to sell at the right price.

Lehman ended down 1 cent at $13.72, while Goldman Sachs fell $1.83 to $156.42 and Morgan Stanley fell 34 cents to $37.06.

The shifting sentiment came a day after fresh worries emerged about the possibility of a government bailout of government-chartered mortgage companies Fannie Mae and Freddie Mac. Such a move could wipe out shareholder equity.

Fannie and Freddie ended mixed after falling more than 20 percent Wednesday. Fannie rose 45 cents, or 10 percent, to $4.85, while Freddie fell 9 cents, or 2.7 percent, to $3.16.

Declining issues outnumbered advancers by about 3 to 2 on the New York Stock Exchange, where consolidated volume came to a light 3.94 billion shares compared with 4.45 billion shares traded Wednesday.

The Russell 2000 index of smaller companies fell 6.35, or 0.87 percent, to 725.25.

Overseas, Japan's Nikkei stock average fell 0.77 percent. Britain's FTSE 100 slipped 0.03 percent, Germany's DAX index fell 1.28 percent, and France's CAC-40 fell 1.40 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average ended the week down 31.84, 0.27 percent, at 11,628.06. The Standard & Poor's 500 index finished down 6.00, or 0.46 percent, at 1,292.20. The Nasdaq composite index ended the week down 37.81, or 1.54 percent, at 2,414.71.

Wall Street capped a volatile week with sharp gains Friday as oil prices tumbled and after Federal Reserve Chairman Ben Bernanke said inflation pressures are likely to moderate. The Dow Jones industrial average rose nearly 200 points.

Speculation that Lehman Brothers Holdings Inc. could be sold helped buoy the financial sector and the overall market. Analysts warned this week that the investment bank could book large write-downs for bad debt. But reports Friday that Korea Development Bank is considering buying the company sent investors rushing for the stock. Lehman rose 69 cents, or 5 percent, to $14.41 but finished well off its highs of the session.

The NYSE DOW closed HIGHER +197.85 points	+1.73% on Friday August 22

Sym Last........ ........Change..........
Dow	11,628.06	+197.85	+1.73%
Nasdaq	2,414.71	+34.33	+1.44%
S&P 500	1,292.20	+14.48	+1.13%
30-yr Bond	4.4630%	-0.0020

NYSE Volume	3,782,879,250
Nasdaq Volume	1,397,090,880

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,505.60	+135.40	+2.52%
DAX	6,342.42	+105.46	+1.69%
CAC 40	4,400.45	+95.84	+2.23%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,666.04	-86.17	-0.68%
Hang Seng	20,392.06	0.00	0.00% closed
Straits Times	2,723.30	+9.83	+0.36%

http://biz.yahoo.com/ap/080822/wall_street.html
*Stocks jump on falling oil, inflation forecast*
Friday August 22, 6:23 pm ET
By Tim Paradis, AP Business Writer
*Stocks jump as oil plunges, Bernanke indicates Fed won't likely raise interest rates soon*

NEW YORK (AP) -- Wall Street capped a volatile week with sharp gains Friday as oil prices tumbled and after Federal Reserve Chairman Ben Bernanke said inflation pressures are likely to moderate. The Dow Jones industrial average rose nearly 200 points.

Speculation that Lehman Brothers Holdings Inc. could be sold helped buoy the financial sector and the overall market. Analysts warned this week that the investment bank could book large write-downs for bad debt. But reports Friday that Korea Development Bank is considering buying the company sent investors rushing for the stock. Lehman rose 69 cents, or 5 percent, to $14.41 but finished well off its highs of the session.

Investors also appeared cheered by an inflation forecast from Bernanke who said at the Kansas City Fed's annual economic symposium that inflation pressures should moderate this year amid tepid economic growth. But he also added that the inflation forecast remains "highly uncertain."

John Massey, senior portfolio manager at AIG SunAmerica Asset Management, said investors are encouraged by Bernanke's comments on interest rates and by the possibility of a buyer for Lehman.

"We're seeing the potential for maybe another white knight," he said, referring to prospects of a deal to acquire all or part of the investment bank.

The health of the financial sector and rising inflation are two of the market's greatest concerns. Although Bernanke refrained from making predictions about inflation, the market was mollified when light, sweet crude plunged $6.59 to settle at $114.59 a barrel on the New York Mercantile Exchange, after surging by more than $5 a barrel on Thursday.

The Dow rose 197.85, or 1.73 percent, to 11,628.06, near its highs of the session.

Broader stock indicators also rose. The Standard & Poor's 500 index rose 14.48, or 1.13 percent, to 1,292.20, and the Nasdaq composite index rose 34.33, or 1.44 percent, to 2,414.71.

The run-up Friday left stocks with mostly modest losses for the week that again saw a series of triple-digit moves in the Dow. The Dow is down 0.27 percent, the S&P 500 is off 0.46 percent and the technology-heavy Nasdaq is down 1.54 percent.

Bond prices pulled back as investors rushed from the safety of government debt to stocks. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.87 percent from 3.83 percent late Wednesday.

The dollar rose against other major currencies, while gold prices fell.

Massey cautioned against making too much of the market's moves given the light volume this week. With traders squeezing in late-summer vacations, Wall Street has shown erratic trading. The Dow industrials lost more than 300 points over Monday and Tuesday before ending moderately higher Wednesday and finishing mixed Thursday.

"The light volumes are really sort of the reasons behind why you've got some outsize moves. I think the issues over all for the economy and the market are fairly well understood," he said. "The market is of this mind-set that we're going to continue to be flattish to down."

He doesn't expect the stock market to more accurately reflect investor sentiment until after Labor Day, when trading volumes should pick up. Until then, he'll be looking next week at readings on consumer confidence and unemployment to determine where the economy might be headed.

Remarks Friday from Bernanke and investor Warren Buffett appeared to dim Wall Street's hopes that mortgage financiers Fannie Mae and Freddie Mac might be able to get by without a government bailout. While such a move could help prop up the government-chartered companies, which together hold or back nearly half the nation's mortgage debt, it could also wipe out shareholder equity.

While Bernanke didn't mention them by name he said he said one of the critical questions facing the country is how to strengthen the financial system and guard against the "moral hazard" of companies making risky choices thinking that the government will ultimately offer a safety net.

Buffett said on CNBC that Fannie and Freddie are too big to fail but that shareholder equity in those companies can be lost.

Fannie Mae rose 15 cents to $5, while Freddie Mac fell 35 cents, or 11 percent, to $2.81.

Linda Duessel, the equity market strategist at Federated Investors, said the financial sector is key to a broader recovery on in stocks, which are down more than 10 percent this year.

"We need to absolutely find a bottom in financials to really believe that the bear can be behind us," she said, referring to the pullback in stocks since last fall.

While most sectors gained ground Friday, some materials companies pulled back as commodity prices fell. United States Steel Corp. fell $5.44, or 3.9 percent, to $133.76, while miner Freeport-McMoRan Copper & Gold Inc. declined $3.06, or 3.3 percent, to $90.60.

In corporate news, Gap Inc. rose 87 cents, or 4.6 percent, to $19.88 after reporting late Thursday that profits in the most recent quarter rose 51 percent from a year earlier, thanks to tight inventory and cost control.

King Pharmaceuticals Inc. said it is prepared to take its bid for Alpharma Inc. directly to shareholders after the company rejected King's $1.4 billion buyout overture. King disclosed the $33 a share offer publicly for the first time Friday. Alpharma surged $10.47, or 44 percent, to $34.51, while King rose 95 cents, or 8.5 percent, to $12.19.

Advancing issues outnumbered decliners by about 3 to 1 on the New York Stock Exchange, where consolidated volume came to a light 3.62 billion shares compared with 3.94 billion shares traded Thursday.

The Russell 2000 index of smaller companies rose 12.35, or 1.70 percent, to 737.60.

Overseas, Japan's Nikkei stock average fell 0.68 percent. Britain's FTSE 100 rose 2.52 percent, Germany's DAX index rose 1.69 percent, and France's CAC-40 advanced 2.23 percent.

The Dow Jones industrial average ended the week down 31.84, 0.27 percent, at 11,628.06. The Standard & Poor's 500 index finished down 6.00, or 0.46 percent, at 1,292.20. The Nasdaq composite index ended the week down 37.81, or 1.54 percent, at 2,414.71.

The Russell 2000 index finished the week down 15.77, or 2.09 percent, at 737.60.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 13,185.26, down 86.62 points, or 0.65 percent, for the week. A year ago, the index was at 14,896.21.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Stocks sank in thin trading Monday as worries about American International Group Inc. touched off broader concerns that financial companies will face more trouble to come.

The major indexes lost about 2 percent. The Dow Jones industrial average fell by nearly 250 points, erasing a gain of about 200 points seen Friday. Bond prices also jumped as investors fled to the safety of government debt.

New York-based AIG was the steepest decliner among the 30 stocks that make up the Dow industrials after a Credit Suisse analyst cut his price target on the world's largest insurer and after Fitch Ratings warned late Friday that it might cut its ratings on the company, which has been buffeted by investors' distaste for some of the types of complex debt instruments on AIG's books.


The NYSE DOW closed LOWER -241.81 points	-2.08% on Monday August 25

Sym Last........ ........Change..........
Dow	11,386.25	-241.81	-2.08%
Nasdaq	2,365.59	-49.12	-2.03%
S&P 500	1,266.84	-25.36	-1.96%
30-yr Bond	4.4030%	-0.0600

NYSE Volume	3,439,857,750
Nasdaq Volume	1,442,055,500

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,505.60	+135.40	+2.52%
DAX	6,296.95	-45.47	-0.72%
CAC 40	4,355.87	-44.58	-1.01%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,878.66	+212.62	+1.68%
Hang Seng	21,104.79	+712.73	+3.50%
Straits Times	2,733.45	+10.15	+0.37%

http://biz.yahoo.com/ap/080825/wall_street.html
*Financials drag on market; Dow falls more than 240*
Monday August 25, 4:36 pm ET
By Tim Paradis, AP Business Writer
*Stocks post sharp decline as AIG, Lehman Brothers weigh on financials; Dow falls more than 240*

NEW YORK (AP) -- Stocks sank in thin trading Monday as worries about American International Group Inc. touched off broader concerns that financial companies will face more trouble to come.

The major indexes lost about 2 percent. The Dow Jones industrial average fell by nearly 250 points, erasing a gain of about 200 points seen Friday. Bond prices also jumped as investors fled to the safety of government debt.

New York-based AIG was the steepest decliner among the 30 stocks that make up the Dow industrials after a Credit Suisse analyst cut his price target on the world's largest insurer and after Fitch Ratings warned late Friday that it might cut its ratings on the company, which has been buffeted by investors' distaste for some of the types of complex debt instruments on AIG's books.

The financials have struggled in part because of a spike in the number of homeowners who have fallen behind on their mortgage payments. A report Monday by a trade group for real estate agents showed the number of unsold properties rose to an all-time high in July. On the other hand, the report by the National Association of Realtors' said sales of existing homes increased 3.1 percent, a better-than-expected result.

The news arrived as volume remained light, with many traders on vacation for the last week of August. Sean Simko, head of fixed income management SEI Investments, said the stock and bond markets are likely showing outsize reactions because of the thin stream of trades.

"There's just too much uncertainty out there creating all this volatility. And what's adding to the volatility is we're entering this holiday period. The swings are exaggerated by the light volumes," he said.

According to preliminary calculations, the Dow industrials fell 241.81, or 2.08 percent, to 11,386.25. The Dow surged nearly 200 points Friday as oil tumbled more than $6 a barrel -- its biggest percentage drop in more than four years -- and after Federal Reserve Chairman Ben Bernanke said inflation pressures are likely to moderate.

Broader stock indicators also fell Monday. The Standard & Poor's 500 index declined 25.36, or 1.96 percent, to 1,266.84, and the Nasdaq composite index fell 49.12, or 2.03 percent, to 2,365.59.

The Russell 2000 index of smaller companies fell 17.06, or 2.31 percent, to 720.54.

Bonds jumped Monday as stocks fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.78 percent from 3.87 percent late Friday. The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude rose 52 cents to settle at $115.11 per barrel on the New York Mercantile Exchange after Tropical Storm Gustav formed in the Caribbean.

Investors focused Monday on troubles in the financial sector. AIG fell $1.09, or 5.5 percent, to $18.78; the stock at times fell to levels not seen since the fall of 1995.

Lehman Brothers Holdings Inc. fell 96 cents, or 6.7 percent, to $13.45 amid speculation about the future of its chief executive and the independence of the nation's fourth-largest investment bank. The stock surged Friday following reports that an investment fund controlled by the Korean government was considering some level of investment in the company. But South Korea's financial regulator warned that the Korean Development Bank should be cautious about any attempts to acquire an overseas bank, according to media reports.

Other financial stocks fell after federal regulators on Friday closed Columbian Bank and Trust Co. in Kansas, which had been hit by losses on soured real estate loans. It marked the ninth failure this year of a federally insured bank.

Among financial names declining, JPMorgan Chase & Co. fell $1.54, or 4.1 percent, to $36.13 -- the bank revealed Monday that its $1.2 billion in preferred stock in Fannie Mae and Freddie Mac has lost $600 million in value so far during the third quarter.

However, the two government-chartered mortgage giants regained some ground on Monday. Freddie Mac rose 48 cents, or 17 percent, to $3.29 after a successful debt offering Monday. Fannie Mae rose 19 cents, or 3.8 percent, to $5.19. Bond insurer MBIA Inc. rose 63 cents, or 6.2 percent, to $10.83.

"We're in a very nervous market," said Alfred E. Goldman, chief market strategist at Wachovia Securities. He doesn't expect Wall Street will carve out a direction until trading volumes increase.

"The whole week is going to be a do-nothing week," he predicted, referring to the volume. "I expect to see the market backing and filling."

More broadly, Goldman doesn't believe Wall Street will see a sustained advance until investors get a sense that well-documented troubles like those of the financial sector are on the mend.

"The market doesn't dance with the same partner forever. It's all a matter of investors starting to look beyond the valley of all the problems to better times ahead."

Declining issues outnumbered advancers by nearly 4 to 1 on the New York Stock Exchange, where volume came to an anemic 865.2 million shares compared with 888.6 million Friday.

Overseas, Japan's Nikkei stock average rose 1.68 percent. Britain's stock market was closed for a holiday, but Germany's DAX index fell 0.72 percent, and France's CAC-40 lost 1.01 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street ended mixed Tuesday as concerns about the path of Hurricane Gustav sent oil prices higher and offset a better-than-expected reading on consumer confidence. Comments from the Federal Reserve about rising inflation added to the market's uneasiness.

The Fed's release of minutes from its Aug. 5 meeting showed that the central bank remains concerned about creeping inflation and that it expected it would need to raise interest rates to try to contain rising prices.

The NYSE DOW closed HIGHER +26.62 points    +0.23% on Tuesday August 26

Sym Last........ ........Change..........
Dow    11,412.87    +26.62    +0.23%
Nasdaq    2,361.97    -3.62    -0.15%
S&P 500    1,271.51    +4.67    +0.37%
30-yr Bond    4.3950%    -0.0080

NYSE Volume    3,531,768,500
Nasdaq Volume    1,479,814,620

*Europe*
Symbol... Last...... .....Change.......
FTSE 100    5,470.70    -34.90    -0.63%
DAX    6,340.52    +43.57    +0.69%
CAC 40    4,368.55    +12.68    +0.29%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225    12,778.71    -99.95    -0.78%
Hang Seng    21,056.66    -48.13    -0.23%
Straits Times    2,707.19    -26.26    -0.96%

http://biz.yahoo.com/ap/080826/wall_street.html
*Stocks mixed on higher oil, consumer data*
Tuesday August 26, 5:36 pm ET 
By Joe Bel Bruno, AP Business Writer  
*Stocks close mixed as higher oil prices temper investors' reaction to upbeat consumer reading *


NEW YORK (AP) -- Wall Street ended mixed Tuesday as concerns about the path of Hurricane Gustav sent oil prices higher and offset a better-than-expected reading on consumer confidence. Comments from the Federal Reserve about rising inflation added to the market's uneasiness.

The Fed's release of minutes from its Aug. 5 meeting showed that the central bank remains concerned about creeping inflation and that it expected it would need to raise interest rates to try to contain rising prices.

At that meeting, policymakers held rates steady because "American businesses and consumers were facing elevated borrowing costs and reduced credit availability." However, the Fed also said it was far from clear when a rate hike might come.

There was some optimism at the start of the day on the Street after the Conference Board said its consumer confidence index rose to 56.9 from a revised 51.9 in July; analysts had expected a reading of 53. That marked the second month in a row that sentiment improved, after a six-month slide since January.

Meanwhile, the Commerce Department reported that new home sales rose 2.4 percent in July. While analysts expected a drop in sales, the July increase followed a sharp downward revision to June's sales.

However, concerns that Gustav would hit installations in the Gulf of Mexico in the coming days sent energy prices higher. A barrel of light, sweet crude ended the day up $1.16 to settle at $116.27 on the New York Mercantile Exchange.

"The overall mood is still one of caution, there's not much out there to get investors excited," said Todd Salamone, director of trading at Schaeffer's Investment Research. "But, the bigger picture is that there hasn't really been a major breakdown considering all the bad headlines out there, from higher oil prices to the credit crisis and troubled housing sector."

The Dow Jones industrials rose 26.62, or 0.23 percent, to 11,412.87. The blue-chip index crossed in and out of positive territory throughout the session.

Broader indexes were mixed. The Standard & Poor's 500 index rose 4.67, or 0.37 percent, to 1,271.51; the Nasdaq composite fell 3.62, or 0.15 percent, to 2,361.97.

Stocks have fluctuated during the past two sessions in part because of light trading, with many people on Wall Street taking the last week of August off. Advancing issues narrowly beat decliners by an 8-to-7 basis on the New York Stock Exchange, where volume consolidated came to an anemic 3.44 billion shares, compared to 3.37 billion shares on Monday.

Bonds were little changed. The yield on the benchmark 10-year Treasury note, which trades opposite its price, fell to 3.78 percent in late trading from 3.79 percent late Monday. The dollar hit a six-month high against the euro and surged to a 25-month high against the pound, while gold prices advanced.

Alexander Paris, an economist and market analyst for Chicago-based Barrington Research, said investors continue to be fixated on a few key issues that have rattled the markets this month. The biggest concerns continue to be the "direction of oil prices and the credit markets," he said.

"The market continues to question the same things, and we're not really getting any answers," he said. "I think that's one of the reasons why people are staying on the sidelines."

Worries have intensified in recent weeks about the financial sector, and how much further it must fall before it can emerge from the credit crisis. Global financial companies have booked more than $300 billion of write-downs during the past year, and more are expected when investment banks report third-quarter results in mid-September.

There are also concerns about the future for big investment banks, with continued speculation that companies like Lehman Brothers Holdings Inc. might be forced into a sale because of steep losses. Smaller banks have also been hard hit, with nine failing since the mortgage crisis began last year.

On Tuesday, the Federal Deposit Insurance Corp. said 117 banks and thrifts are considered to be in trouble since the second quarter. That is up from 90 in the prior quarter, and the biggest tally in five years.

The FDIC also said banking industry profits plunged by 86 percent in the second quarter. Federally insured banks and savings institutions earned $5 billion in the April-June period, down from $36.8 billion a year earlier. They also set aside a record $50.2 billion to cover losses from soured mortgages and other lends in the second quarter.

Troubles in the housing sector still aren't showing any clear signs of abating. The widely watched Standard & Poor's/Case-Shiller home price index tumbled the most ever during the second quarter, falling 15.4 percent compared to the same period a year ago.

However, shares of Fannie Mae and Freddie Mac climbed for a second day amid growing expectations among some investors that the mortgage financiers will be able to weather the housing storm without a government rescue.

Fannie shares rose 43 cents, or 8.3 percent, to $5.62 in morning trading, while Freddie soared 69 cents, or 21 percent, to $3.98.

In other corporate news, Smithfield Foods Inc., the nation's largest hog producer and pork processor, said Tuesday it swung to a fiscal first-quarter loss due in part to a $20.1 million write-down in the value of commodities contracts. Shares fell $1.62, or 6.9 percent, to $21.91.

Credit Suisse Group said it has acquired a majority stake in U.S.-based company Asset Management Finance Corporation for $384 million of newly issued Credit Suisse stock. Shares of Credit Suisse fell 27 cents to $44.81.

The Russell 2000 index of smaller companies rose 2.97, or 0.41 percent, to 723.51.

Overseas, Japan's Nikkei stock average fell 0.78 percent. At the close, Britain's FTSE 100 was down 0.63 percent, Germany's DAX index was up 0.69 percent, and France's CAC-40 was up 0.29 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street posted a big advance after the government reported a larger-than-expected increase in orders for big-ticket manufactured goods that indicated the economy is stronger than many investors thought.

The Commerce Department said orders for durable goods jumped 1.3 percent in July compared with the previous month, led by a big gain in demand for commercial aircraft. That was well above the 0.1 increase expected by economists surveyed by Thomson/IFR.

The NYSE DOW closed HIGHER +89.64 higher	+0.79% on Wednesday August 27

Sym Last........ ........Change..........
Dow	11,502.51	+89.64	+0.79%
Nasdaq	2,382.46	+20.49	+0.87%
S&P 500	1,281.66	+10.15	+0.80%
30-yr Bond	4.3830%	-0.0120

NYSE Volume	3,508,161,750
Nasdaq Volume	1,573,323,250

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,528.10	+57.40	+1.05%
DAX	6,321.03	-19.49	-0.31%
CAC 40	4,373.08	+4.53	+0.10%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,752.96	-25.75	-0.20%
Hang Seng	21,464.72	+408.06	+1.94%
Straits Times	2,705.09	-2.10	-0.08%

http://biz.yahoo.com/ap/080827/wall_street.html
Stocks rise following durable goods report
Wednesday August 27, 4:46 pm ET
By Tim Paradis, AP Business Writer
Wall Street posts big advance after durable goods orders rise more than expected, oil gains

NEW YORK (AP) -- Wall Street posted a big advance after the government reported a larger-than-expected increase in orders for big-ticket manufactured goods that indicated the economy is stronger than many investors thought.

The Commerce Department said orders for durable goods jumped 1.3 percent in July compared with the previous month, led by a big gain in demand for commercial aircraft. That was well above the 0.1 increase expected by economists surveyed by Thomson/IFR.

Durable goods, which also include cars, appliances and machinery, are under scrutiny not only because they reflect business spending, but because they are also an indicator of consumer confidence. The July increase equaled a 1.3 percent rise in June; both months produced the strongest gains since a 4.1 percent leap back in December.

Light, sweet crude rose $1.88 to settle at $118.15 per barrel on the New York Mercantile Exchange on worries that Tropical Storm Gustav might hit Gulf of Mexico installations.

"The strength in durable goods is just the latest indication that manufacturing is actually holding in quite well and that's a really big plus," said Stuart Schweitzer, global markets strategist at J.P. Morgan's Private Bank. "Against the backdrop of the drumbeat of negative news of the last several weeks it was encouraging to see a little bit of positive news. The basic fact of the matter is that although the economy has been weak, it hasn't fallen off a cliff."

According to preliminary calculations, the Dow Jones industrial average rose 89.64, or 0.79 percent, to 11,502.51 after rising more than 140 points.

Broader stock indicators also rose. The Standard & Poor's 500 index gained 10.15, or 0.80 percent, to 1,281.66, and the Nasdaq composite index rose 20.49, or 0.87 percent, to 2,382.46.

Trading was light ahead of the long Labor Day weekend; low volumes tend to skew the market's moves.

Stocks ended mixed Tuesday as what was then Hurricane Gustav sent oil prices higher and offset a better-than-expected reading on consumer confidence.

Bond prices rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.77 percent from 3.78 percent late Tuesday. The dollar was mixed against other major currencies, while gold prices rose.

Schweitzer noted the relative strength of the manufacturing sector, fed in part by a weak dollar that makes U.S. goods less expensive abroad, is helping undergird the overall economy.

"The weakness in the dollar and the strength in U.S. exports are acting like a bit of an automatic stabilizer for the U.S. economy," he said. "It's a key offset at a time when other things are not so good."

But Mark Coffelt, portfolio manager at Empiric Funds in Austin, Texas, cautioned against reading too much into the durable goods report and said economic readings will likely continue to come in mixed. He predicts volatility also will likely continue as investors thumb through a list of concerns ranging from the financial sector, to housing to energy costs.

"I think what we see is a lot of confusion right now. I'm not sure investors really know what to do. You've got oil jumping all over the place," he said.

Rising energy prices Wednesday curtailed stocks' advance in early trading but investors eventually set aside some of their concerns. They appeared cheered by a prediction from Atlanta Federal Reserve President Dennis Lockhart, who said in a speech he expects that overall inflation and so-called core inflation, which excludes often volatile food and energy prices, will diminish through the rest of the year and into 2009.

But the rise in oil prices still weighed on companies such as airlines, which have been hit hard by rising costs for jet fuel. It also buoyed names in the energy sector.

Northwest Airlines Corp. fell 79 cents, or 8.3 percent, to $8.76, while U.S. Airways Group fell $1.27, or 11 percent, to $9.88.

Oil refiner Tesoro Corp. rose $1.84, or 11 percent, to $18.41, while Valero Energy Corp. added $1.42, or 4.2 percent, to $35.02.

Several retailers advanced after signaling that business is stronger than some on Wall Street might have expected, offering investors some reassurance about consumer spending and in turn, the health of the economy.

Borders Group Inc. rose $1.03, or 19 percent, to $6.39 after the bookseller reported better-than-expected second-quarter results and slashed debt.

Clothing retailer Talbots Inc. jumped $2.82, or 28 percent, to $12.82 after the company raised its forecast for 2008 per-share earnings.

Chico's FAS Inc. rose 50 cents, or 9.8 percent, to $5.59 after the women's apparel retailer's fiscal second-quarter profit fell sharply but beat Wall Street's expectations.

Financials also rose as the durable goods report lifted overall investor sentiment and eased fears that a further economic slowdown will hit already troubled banks and other lenders.

Bank of America Corp. rose 63 cents, or 2.2 percent, to $29.65, and was the biggest gainer among the 30 stocks that make up the Dow industrials. Merrill Lynch & Co. rose $1.17, or 4.9 percent, to $25.27.

Shares of mortgage companies Fannie Mae and Freddie Mac rose for a third straight session as analysts questioned whether a bailout of the government-chartered companies was imminent. Fannie Mae rose 86 cents, or 15 percent, to $6.48, while Freddie Mac rose 78 cents, or 20 percent, to $4.75.

Advancing issues outnumbered decliners by about 2 to 1 on the New York Stock Exchange, where volume came to a light 820.6 million shares.

The Russell 2000 index of smaller companies rose 9.44, or 1.30 percent, to 732.95.

Overseas, Japan's Nikkei stock average fell 0.20 percent. Britain's FTSE 100 rose 1.05 percent, Germany's DAX index fell 0.31 percent, and France's CAC-40 rose 0.10 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street barreled higher Thursday after a better-than-expected reading on the gross domestic product and a drop in jobless claims gave investors some reassurance that the economy is holding up. The Dow Jones industrial average jumped more than 200 points.

A decline in oil prices also appeared to add force to the rally in stocks. But trading volume was again light heading toward the Labor Day weekend, a condition that can skew price moves.

*The NYSE DOW closed HIGHER +212.67 points	+1.85% on Thursday August 28*

Sym Last........ ........Change..........
Dow	11,715.18	+212.67	+1.85%
Nasdaq	2,411.64	+29.18	+1.22%
S&P 500	1,300.68	+19.02	+1.48%
30-yr Bond	4.3890%	+0.0060

NYSE Volume	3,854,636,000
Nasdaq Volume	1,634,173,880

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,601.20	+73.10	+1.32%
DAX	6,420.54	+99.51	+1.57%
CAC 40	4,461.49	+88.41	+2.02%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,768.25	+15.29	+0.12%
Hang Seng	20,972.29	-492.43	-2.29%
Straits Times	2,691.00	-14.09	-0.52%

http://biz.yahoo.com/ap/080828/wall_street.html
Stocks jump on better-than-expected GDP, jobs data
Thursday August 28, 6:03 pm ET
By Tim Paradis, AP Business Writer
Stocks jump on better-than-expected gross domestic product reading, decline in jobless claims

NEW YORK (AP) -- Wall Street barreled higher Thursday after a better-than-expected reading on the gross domestic product and a drop in jobless claims gave investors some reassurance that the economy is holding up. The Dow Jones industrial average jumped more than 200 points.

A decline in oil prices also appeared to add force to the rally in stocks. But trading volume was again light heading toward the Labor Day weekend, a condition that can skew price moves.

The Commerce Department's report that gross domestic product rose at an annual rate of 3.3 percent for the April-June period followed several economic readings this week that have left guarded investors somewhat optimistic. The weaker dollar helped boost U.S. exports, which pushed GDP growth beyond the government's initial estimate of 1.9 percent as well as economists' forecast of 2.7 percent.

It marked the economy's best performance since the third quarter of last year, when GDP rose at a 4.8 percent pace.

Investors are watching GDP, considered the best barometer of the economy's well-being, to look for signs that growth is picking up after being pounded by housing woes and a debilitating credit crisis. The economy grew at a weak rate of 0.9 percent in the first quarter after shrinking in the last three months of 2007.

Also Thursday, the Labor Department said the number of newly laid off people seeking jobless benefits fell for the third straight week. Claims dropped to a seasonally adjusted 425,000, down 10,000 from the previous week. That was slightly better than the 427,000 expected by analysts surveyed by Thomson/IFR.

But some economists consider claims above 400,000 an indicator of a slowing economy. Companies have cut jobs every month this year as they grapple with high energy costs and tighter credit.

The Dow rose 212.67, or 1.85 percent, to 11,715.18, bringing its three-day advance to nearly 330 points. Still, for the week, the Dow is up only slightly after a big decline Monday on credit worries.

Broader stock indicators also rose Thursday. The Standard & Poor's 500 index advanced 19.02, or 1.48 percent, to 1,300.68, and the Nasdaq composite index rose 29.18, or 1.22 percent, to 2,411.64.

Bonds fell as investors moved into stocks. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.79 percent from 3.77 percent late Wednesday. The dollar rose against most major currencies. Gold also advanced.

"This is an environment in which we're likely to get a lot of head-fakes both on the upside and the downside," said Bill Urban, principal with San Francisco-based Bingham, Osborn & Scarborough, referring to economic data. He noted that the initial reading on the fourth quarter last year had been positive before revisions revealed the economy contracted.

"This is just sort of data that trickles out that can be very positive one day and negative the next. We don't yet think it signals a trend," he said.

Beyond economic reports, investors are watching oil prices as Tropical Storm Gustav churns toward the Gulf of Mexico on a course that could collide with oil and gas platforms. Oil rose in the early going on concerns about the storm but a strengthening dollar upended oil's climb.

Light, sweet crude fell $2.56 to settle at $115.59 on the New York Mercantile Exchange.

The decline in oil made energy stocks one of the session's few areas of weakness.

Devon Energy Corp. fell $3.62, or 3.4 percent, to $103.16, while Hess Corp. fell $1.61, or 1.5 percent, to $105.53.

Financial shares advanced after MBIA Inc. agreed to reinsure nearly $200 billion of municipal bonds backed by FGIC Corp. The deal between the two bond insurers led to some hopes that the troubled credit market is beginning to right itself. MBIA jumped $4.17, or 35 percent, to $16.15. Other bond insurers also rose, with Ambac Financial Group Inc. climbing $2.18, or 42 percent, to $7.42.

Government-chartered mortgage companies Fannie Mae and Freddie Mac rose for a fourth straight session after Fannie Mae announced a management shake-up and analysts raised further doubts that a government bailout of the companies is in the offing; such a move could wipe out shareholder equity. Fannie Mae rose $1.47, or 23 percent, to $7.95, while Freddie Mac rose 53 cents, or 11 percent, to $5.28.

Among retailers, Tiffany & Co. jumped $4.24, or 11 percent, to $43.85 after reporting that its second-quarter profit doubled as sales jumped in Asia and Europe.

Zale Corp. forecast a fiscal 2009 profit that topped what Wall Street had been expecting. The specialty jeweler rose $4.77, or 21 percent, to $27.92.

Investors have been looking at retailers' results this week for insights into the health of consumers, whose spending accounts for more than two-thirds of U.S. economic activity. Several upbeat retail reports Wednesday helped buoy Wall Street's mood.

Advancing issues outnumbered decliners by about 3 to 1 on the New York Stock Exchange, where volume came to 956.2 million shares compared with 820.6 million shares Wednesday.

The Russell 2000 index of smaller companies rose 14.84, or 2.02 percent, to 747.79.

Overseas, Japan's Nikkei stock average edged up 0.12 percent. Britain's FTSE 100 rose 1.32 percent, Germany's DAX index added 1.57 percent, and France's CAC-40 jumped 2.02 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## nioka

Big dog, 

Your posts on this subject get very little comment. I'd just like to thank you for your daily contribution which is much appreciated. I always read it before the ASX opening to get some help in working out the probable direction our market will take. Keep up the good work.


----------



## jonojpsg

nioka said:


> Big dog,
> 
> Your posts on this subject get very little comment. I'd just like to thank you for your daily contribution which is much appreciated. I always read it before the ASX opening to get some help in working out the probable direction our market will take. Keep up the good work.




Hear hear!


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The NYSE is closed Monday for labor day*

For the week, Dow fell 1 percent, the S&P 500 lost 1.18 percent and the Nasdaq fell 3.47 percent. And in August, the Dow rose 1.45 percent, the S&P 500 gained 1.22 percent and the Nasdaq added 1.80 percent.

Wall Street tumbled Friday after the government said personal incomes fell last month by the largest amount in nearly three years while consumer spending slowed. The Dow Jones industrial average more than 170 points, while a disappointing profit report from computer maker Dell Inc. weighed on the technology-heavy Nasdaq composite index.

Meanwhile, investors charted the path of Hurricane Gustav as it heads toward the Gulf of Mexico and its oil rigs and refineries.

Wall Street's retreat following the downbeat news about consumers also comes after several days of sizable gains in stocks and on the final session before the long Labor Day weekend. Pre-holiday trading is generally light and some pullback was to be expected.



*The NYSE DOW closed LOWER -171.63 points 	-1.47% on Friday August 29*

Sym Last........ ........Change..........
Dow	11,543.55	-171.63	-1.47%
Nasdaq	2,367.52	-44.12	-1.83%
S&P 500	1,282.83	-17.85	-1.37%
30-yr Bond	4.4120%	+0.0230

NYSE Volume	3,313,608,500
Nasdaq Volume	1,611,633,500

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,636.60	+35.40	+0.63%
DAX	6,422.30	+1.76	+0.03%
CAC 40	4,482.60	+21.11	+0.47%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	13,072.87	+304.62	+2.39%
Hang Seng	21,261.89	+289.60	+1.38%
Straits Times	2,739.95	+48.95	+1.82%

http://biz.yahoo.com/ap/080829/wall_street.html
*Stocks end lower on personal income data*
Friday August 29, 5:44 pm ET
By Tim Paradis, AP Business Writer
*Stocks end lower as drop in personal incomes stirs concerns about consumers; Dell hurts techs*

NEW YORK (AP) -- Wall Street tumbled Friday after the government said personal incomes fell last month by the largest amount in nearly three years while consumer spending slowed. The Dow Jones industrial average more than 170 points, while a disappointing profit report from computer maker Dell Inc. weighed on the technology-heavy Nasdaq composite index.

Meanwhile, investors charted the path of Hurricane Gustav as it heads toward the Gulf of Mexico and its oil rigs and refineries.

Wall Street's retreat following the downbeat news about consumers also comes after several days of sizable gains in stocks and on the final session before the long Labor Day weekend. Pre-holiday trading is generally light and some pullback was to be expected.

Still, investors were uneasy after the Commerce Department reported that personal incomes fell by 0.7 percent in July -- well beyond the drop of 0.1 percent that analysts polled by Thomson/IFR had predicted.

As expected, the government also said consumer spending rose a modest 0.2 percent. That was below the 0.6 percent increase seen in June and, accounting for rising prices, spending fell by 0.4 percent in July. Wall Street has been concerned about Americans' ability to help the economy grow, as high prices for gas and food have strapped many household budgets.

"My biggest concern with the income data is that we're getting off to a weak start to the third quarter," said Robert Dye, senior economist at PNC Financial Services Group. "The income numbers are a reminder that the economy is going to look worse before it gets better."

The Dow fell 171.63, or 1.47 percent, to 11,543.55. The blue chips began trading Friday having logged a three-day advance of nearly 330 points.

Broader stock indicators also lost ground. The Standard & Poor's 500 index fell 17.85, or 1.37 percent, to 1,282.83. The Nasdaq fell 44.12, or 1.83 percent, to 2,367.52.

The week's trading was again marked by volatility. After tumbling Monday on worries about the credit markets and finishing mixed Tuesday, stocks rose Wednesday and Thursday.

Those moves perhaps belied the quiet surrounding some trading posts. While readings on the overall economy as well as consumer confidence and demand for big-ticket manufactured goods were better than expected, trading was light all week. This prompted some observers to dismiss the market's moves as aberrations.

Declining issues outnumbered advancers Friday by nearly 2 to 1 on the New York Stock Exchange, where volume came to a weak 959.1 million shares compared with 956.2 million shares traded Thursday.

For the week, Dow fell 1 percent, the S&P 500 lost 1.18 percent and the Nasdaq fell 3.47 percent. And in August, the Dow rose 1.45 percent, the S&P 500 gained 1.22 percent and the Nasdaq added 1.80 percent.

Bond prices fell Friday. The 10-year note's yield, which moves opposite its price, rose to 3.83 percent from 3.79 percent late Thursday. The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude fell 13 cents to $115.46 per barrel on the New York Mercantile Exchange. While oil trading has been orderly as Gustav progresses, there is concern about damage from the storm or a disruption in the flow of gasoline and other fuel from Gulf Coast refineries.

Although many investors are fixated on consumers, Wall Street showed little reaction to the Reuters/University of Michigan's index of consumer sentiment, which rose to its highest level in five months. Economists often reason that consumers who are upbeat about their prospects are more likely to spend.

Also, investors shrugged off the Chicago Purchasing Managers' index, which measures business conditions across Illinois, Michigan and Indiana. It jumped to 57.9 from 50.8 in July. The index is considered a precursor to the Institute for Supply Management's manufacturing survey on Tuesday. Investors also will be looking next week to readings on the service sector, construction, factory orders and employment.

"Traditionally September is a weak month for stocks and I don't think we're going to escape that," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners Inc., looking to the coming week. "I do think we are going to stay in a trading range. I don't see this market falling out of bed and going below the July lows."

But concerns that arose Friday could remain next week. Investors worried about the tech sector after Dell's report late Thursday and its cautious comments about spending in the sector. The stock fell $3.48, or 14 percent, to $21.73.

Another tech name, Marvell Technology Group Ltd., fell after its third-quarter revenue forecast fell short of Wall Street's estimate. The stock lost 65 cents, or 4.4 percent, to $14.11.

Government-chartered Fannie Mae and Freddie Mac fell anew Friday after big gains earlier in the week. Fannie Mae fell $1.11, or 14 percent, to $6.84, while Freddie Mac fell 77 cents, or 15 percent, to $4.51.

The Russell 2000 index of smaller companies fell 8.29, or 1.11 percent, to 739.50.

In Tokyo, the Nikkei index rose 2.39 percent. In Europe, London's FTSE-100 index rose 0.63 percent, Frankfurt's DAX rose 0.03 percent and the CAC-40 index in Paris rose 0.47 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The NYSE is closed Monday Sept 1 for labor day

Wall Street is set for another volatile week after the Labor Day holiday, as investors track Hurricane Gustav, the price of oil, key economic data and continued fallout from the credit crisis.



*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,602.80	-33.80	-0.60%
DAX	6,421.80	-0.50	-0.01%
CAC 40	4,472.13	-10.47	-0.23%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,834.18	-238.69	-1.83%
Hang Seng	20,906.31	-355.58	-1.67%
Straits Times	2,713.79	-26.16	-0.95%

http://biz.yahoo.com/rb/080901/column_stocks_outlook.html?.v=1
*More volatility seen with hurricane*
Monday September 1, 1:49 pm ET
By Deepa Seetharaman

NEW YORK (Reuters) - Wall Street is set for another volatile week after the Labor Day holiday, as investors track Hurricane Gustav, the price of oil, key economic data and continued fallout from the credit crisis.

Gustav initially came roaring into the Gulf of Mexico threatening to cause the worst devastation since Hurricane Katrina three years ago, but it weakened on Monday before making landfall in Louisiana.

Oil prices plummeted on the news of the less powerful storm in a turn of events that will likely lift U.S. stock indexes when they reopen after the U.S. Labor Day holiday on Tuesday.

"You might actually get some relief in the markets," said Chip Hanlon, president of Delta Global Advisors, Inc, in Huntington Beach, California. "We were bracing for a repeat of Katrina, Category 2 sounds tame in comparison."

Hanlon said retailers and airline stocks may "get a bounce" on Tuesday from lower oil prices, but energy-related stocks may be weak.

Oil fell 4.6 percent and dropped below $111 a barrel in electronic trading on Monday as the threat to U.S. oil production faded. Stock investors are increasingly sensitive to inflation pressures, making the price of oil an important factor in trading.

Investors will also contend with a barrage of economic data this week, notably the August payrolls report due out on Friday and two reports on U.S. factory activity from the Institute for Supply Management.

But the hurricane will be the main focus early in the week. Last week, oil prices surged and retreated on concerns over the storm's path, strength and the readiness of U.S. emergency officials to handle any disruptions.

Gustav "will probably be moving the market one way or the other," said John Praveen, chief investment strategist at Prudential International Investments Advisers LLC in Newark, New Jersey. "If it fizzles then it will be a big relief on oil prices."

Also driving the market this week are several government economic reports.

This data comes after the U.S. government said gross domestic product grew at a robust 3.3 percent clip between April and June, above initial estimates of 1.9 percent.

But analysts said the strong showing was largely the result of increased exports.

"If you look at GDP, you're led to believe the economy is solid," said Hugh Johnson, chief investment officer of Johnson Illington Advisor in Albany, New York. "But if you look at the variables -- employment, industrial production and personal income -- the economy does not look solid but weak."

On Friday, all three major indexes fell more than 1 percent and all 30 stocks in the Dow industrials finished in the red.

Economic data added to the market's jitters after a government report showed U.S. personal income fell unexpectedly in July while spending slowed as the effects of a government stimulus package wore off.

An inflation measure hit a 17-year high.

The Dow Jones industrial average closed down 171.63 points, or 1.47 percent, at 11,543.55 in Friday's trading. The Standard & Poor's 500 Index was down 17.85 points, or 1.37 percent, at 1,282.83. The Nasdaq Composite Index was down 44.12 points, or 1.83 percent, at 2,367.52.

For the month, though, the Dow added 1.5 percent, while the S&P rose 1.3 percent and the Nasdaq gained 1.8 percent.

The August jobs report from the Bureau of Labor Statistics, is also expected to be weak, with an overall decline in nonfarm payrolls of 85,000 and no change in the unemployment rate of 5.7 percent for August.

In July, U.S. nonfarm payrolls fell for a seventh straight month.

Another month of hefty job losses would reinforce those who argue that the economy remains in poor shape, Johnson said.

Market watchers are also awaiting data on U.S. auto and same-store retail sales for clues about consumer spending in the upcoming holiday season, along with the Federal Reserve's Beige Book.

"The markets are extremely volatile and moving according to macroeconomic news quite a bit," Prudential International Investments' Praveen said. "All of this data has the potential to be moving markets."

Investors will also be tracking new developments among financial companies, particularly beleaguered mortgage giants Fannie Mae (NYSE:FNM - News) and Freddie Mac (NYSE:FRE - News), and Lehman Brothers Holdings Inc (NYSE:LEH - News), which is shopping its asset management division arm.

Lehman, the fourth-largest U.S. investment bank, is looking for buyers for some $40 billion of commercial mortgages and property on its balance sheet.

Although developments in the race for the White House will not take center stage, analysts said that Wall Street will still be watching the now-abbreviated Republican National Convention this week for long-term market implications.

Investors will particularly focus on Sen. John McCain's tax and energy policies, especially following his selection of Alaska Gov. Sarah Palin as his running mate.

"The markets are not going to be happy with an Obama presidency ... and McCain is not particularly loved by Wall Street either," said George Schwartz, president at Schwartz Investment Counsel in Bloomfield Hills, Michigan.

But with Palin, "conservatives are going to come out roaring in favor," Schwartz said. "It's going to be a positive influence on economic activity."

Schwartz added that the pairing could affect oil prices, especially if Palin and McCain say they strongly support off-shore drilling.

"That premise of additional supplies is going to further take the speculators out of the market and cause them to put downward pressure," he said.

(Additional reporting by Nick Zieminski, Herb Lash and Steve C. Johnson; Editing by Derek Caney and Maureen Bavdek)

(The Stocks Outlook column appears weekly. Comments or questions on this one can be e-mailed to deepa.seetharaman(at)thomsonreuters.com)


----------



## bigdog

YSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street succumbed to its ongoing angst Tuesday, giving up a sharp advance and turning moderately lower after falling oil prices failed to calm the market's nervousness about the economy and the financial sector.

The Dow Jones industrial average initially surged by nearly 250 points as oil prices dropped as low as $105.46 a barrel on reports that the Gulf Coast and its oil facilities were spared heavy damage from Hurricane Gustav. But the positive effect of the storm's outcome on stocks was short-lived, and the blue chips ended the day down 26.

The NYSE DOW closed LOWER -26.63 points	-0.23% on Tuesdday September 2

Sym Last........ ........Change..........
Dow	11,516.92	-26.63	-0.23%
Nasdaq	2,349.24	-18.28	-0.77%
S&P 500	1,277.57	-5.26	-0.41%
30-yr Bond	4.3620%	-0.0500

NYSE Volume	4,787,815,500
Nasdaq Volume	2,050,814,750

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,620.70	+17.90	+0.32%
DAX	6,518.47	+96.67	+1.51%
CAC 40	4,539.07	+66.94	+1.50%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,609.47	-224.71	-1.75%
Hang Seng	21,042.46	+136.15	+0.65%
Straits Times	2,758.94	+45.15	+1.66%

http://biz.yahoo.com/ap/080902/wall_street.html
*Oil's retreat not enough to sustain stock rally*
Tuesday September 2, 4:44 pm ET
By Madlen Read, AP Business Writer
*Wall Street turns lower as economic, financial worries overtake relief about lower oil prices*

NEW YORK (AP) -- Wall Street succumbed to its ongoing angst Tuesday, giving up a sharp advance and turning moderately lower after falling oil prices failed to calm the market's nervousness about the economy and the financial sector.

The Dow Jones industrial average initially surged by nearly 250 points as oil prices dropped as low as $105.46 a barrel on reports that the Gulf Coast and its oil facilities were spared heavy damage from Hurricane Gustav. But the positive effect of the storm's outcome on stocks was short-lived, and the blue chips ended the day down 26.

Falling commodities prices caused the stocks of oil and metals companies to sink, dragging on the broader market, and the technology sector was also weak. Furthermore, crude oil eventually lifted off its lows of the day, settling near $110 a barrel and signaling to some traders that oil has the potential to rebound as quickly as it sold off.

"We could have another storm announced tomorrow, and it'd be back up again," said Anthony Conroy, managing director and head trader for BNY ConvergEx Group.

The financial sector was stronger than usual on Tuesday, but not enough to lift the stock market. Investors remain fearful that a weak housing market and tight credit environment will keep racking up losses for the nation's major money centers.

"The one problem with financials is that maybe the Street has a good handle on subprime, but they do not have a good handle on commercial or industrial lending," said Philip S. Dow, managing director of equity strategy at RBC Wealth Management.

Due to the high level of uncertainty in the market -- not to mention low summer trading volumes, which tend to add to volatility -- investors recently have appeared to be aiming for quick, day-to-day profits as opposed to committing to a long-term strategy, Dow said.

"We've had this manic tape for some time," he said. "By and large, it's just a market that's victim to whatever the news of the day is, without a whole lot of conviction."

According to preliminary calculations, the Dow fell 26.63, or 0.23 percent, to 11,516.92. On Friday, the blue chip index lost 171 points. The biggest drop among the 30 Dow components came from aluminum producer Alcoa Inc., which fell $1.67, or 5.2 percent, to $30.46.

Broader stock indicators also turned lower after moving sharply higher in early trading. The Standard & Poor's 500 index fell 5.25, or 0.41 percent, to 1,277.58, and the technology-dominated Nasdaq composite index fell 18.28, or 0.77 percent, to 2,349.24.

Advancing issues outnumbered decliners, however, by about 8 to 7 on the New York Stock Exchange, where volume came to 1.15 billion shares.

Light, sweet crude fell $5.75 to settle at $109.71 a barrel on the New York Mercantile Exchange.

Bond prices shot higher as Wall Street gave up its gains. The yield on the benchmark 10-year Treasury note, which moves opposite its price, sank to 3.74 percent from 3.82 percent late Friday. The dollar strengthened against most other major currencies, while gold prices fell sharply.

The Institute for Supply Management, a trade group of purchasing executives, said Tuesday its index on manufacturing activity fell marginally to 49.9 in August -- as expected -- from 50 in July. A reading below 50 indicates contraction. The ISM also found that inflation lessened.

Bill Dwyer, chief investment officer at MTB Investment Advisors in Baltimore, said the reactions of the energy and stock markets Tuesday illustrate the overall uncertainty about the economy.

"It just shows you how unstable the market is based on the perception of the macro economic outlook. It changes daily. There isn't a consistent viewpoint of what is actually happening in the economy," he said.

Financials ended mostly higher Tuesday, but trading was erratic; investors remain extremely skittish about financial services companies, given the billions of dollars in risky loans and securities that remain on their books.

Lehman Brothers Holdings Inc. rose but pared larger gains after the governor of the state-owned Korea Development Bank said discussions were under way to set up a consortium with private banks to acquire Lehman. The comments follow weeks of speculation that the investment bank could be bought as it struggles amid tightness in the credit markets.

Lehman shares rose 4 cents to close at $16.13.

A few financial stocks weakened, including Merrill Lynch & Co., which fell 60 cents, or 2.1 percent, to $27.75.

The drop in oil prices sent airline stocks higher. American Airlines parent AMR Corp. jumped $1.17, or 11.3 percent, to $11.50, Delta Air Lines Inc. rose $1.04, or 12.8 percent, to $9.17, while JetBlue Airways Corp. rose 25 cents, or 4.1 percent, to $6.32.

But energy names fell. Exxon Mobil Corp., one of the 30 Dow industrials, fell $2.69, or 3.4 percent, to $77.32, while Chevron Corp., another Dow component, lost $3.03, or 3.5 percent, to $83.29.

Most technology companies declined as well. One of the most actively traded stocks in the Nasdaq composite index was Dell Inc., which on Friday reported disappointing quarterly results and set off a string of estimate cuts by analysts.

Dell shares extended their declines, falling by 90 cents, or 4.1 percent, to $20.83.

The Russell 2000 index of smaller companies fell 0.99, or 0.13 percent, to 738.51.

Overseas, Japan's Nikkei stock fell 1.75 percent. Britain's FTSE 100 rose 0.32 percent, Germany's DAX index rose 1.51 percent, and France's CAC-40 advanced 1.50 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street finished mixed in fickle trading Wednesday, with investors still unsettled about the economy ahead of Friday's employment report and only somewhat relieved about sliding commodities prices.

The Commerce Department gave the market just modest comfort when it said orders for manufactured products rose by 1.3 percent in July. The figure was higher than the 0.8 percent predicted by economists polled by Thomson Financial/IFR; the department also upwardly revised its June reading to an increase of 2.1 percent.

The NYSE DOW closed HIGHER +15.96 points 	+0.14% on Wednesday September 3

Sym Last........ ........Change..........
Dow	11,532.88	+15.96	+0.14%
Nasdaq	2,333.73	-15.51	-0.66%
S&P 500	1,274.98	-2.59	-0.20%
30-yr Bond	4.3180%	-0.0440

NYSE Volume	5,051,334,500
Nasdaq Volume	2,137,763,000

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,499.70	-121.00	-2.15%
DAX	6,467.49	-50.98	-0.78%
CAC 40	4,447.13	-91.94	-2.03%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,689.59	+80.12	+0.64%
Hang Seng	20,585.06	-457.40	-2.17%
Straits Times	2,706.53	-52.41	-1.90%

http://biz.yahoo.com/ap/080903/wall_street.html
Wall Street mixed on global economic worries
Wednesday September 3, 4:36 pm ET
By Madlen Read, AP Business Writer
Stocks mixed on worries about global economy, despite lower oil and higher US factory orders

NEW YORK (AP) -- Wall Street finished mixed in fickle trading Wednesday, with investors still unsettled about the economy ahead of Friday's employment report and only somewhat relieved about sliding commodities prices.

The Commerce Department gave the market just modest comfort when it said orders for manufactured products rose by 1.3 percent in July. The figure was higher than the 0.8 percent predicted by economists polled by Thomson Financial/IFR; the department also upwardly revised its June reading to an increase of 2.1 percent.

However, many traders shrugged off the report as old news, given that it is now September. With automakers releasing sluggish August sales and the Federal Reserve reporting weak economic activity throughout the nation, the market proceeded cautiously.

A massive pullback in commodities since earlier in the summer has helped alleviate some of Wall Street's inflation worries. Oil briefly slid below $108 a barrel Wednesday as the dollar strengthened and Hurricane Gustav appeared to leave oil installations in the Gulf of Mexico mostly undamaged.

But oil pared its losses to end above $109 a barrel. And investors are realizing that oil has fallen partly because global demand growth is waning -- bad news not only for energy companies, but also for the technology and industrial sectors. On Tuesday, stocks gave up a huge early advance only to close lower, as investors' enthusiasm about oil's selloff gave way to concerns about the economy in the United States and abroad.

"All the data in the last two weeks has actually been very good," said Joseph V. Battipaglia, chief investment officer at Ryan Beck & Co., pointing to Wednesday's factory orders data, falling oil prices, and the recent upward revision of second-quarter gross domestic product. "Despite all that, you didn't get a commensurate market performance. And that's troubling."

According to preliminary calculations, the Dow Jones industrial average rose 15.96, or 0.14 percent, to 11,532.88, after rising by as many as 37 points and falling by as many as 100.

Broader stock indicators slipped. The Standard & Poor's 500 index fell 2.60, or 0.20 percent, to 1,274.98, and the Nasdaq composite index fell 15.51, or 0.66 percent, to 2,333.73.

The Russell 2000 index of smaller companies rose 3.40, or 0.46 percent, to 741.91.

Advancing issues outnumbered advancers by about 8 to 7 on the New York Stock Exchange, where volume came to 1.21 billion shares.

Bond prices moved higher Wednesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.70 percent from 3.74 percent in late trading on Tuesday.

One bright spot in the market Wednesday was the troubled financial sector, which drew some bargain hunters thanks to positive news on a few big names: Ambac Financial Group Inc., Freddie Mac and Lehman Brothers Holdings Inc.

Ambac rose $1.58, or 22.4 percent, to $8.65 after Wisconsin insurance regulators late Tuesday approved the bond insurer's plans for a new insurance subsidiary.

Freddie Mac rose 20 cents, or 3.9 percent, to $5.38, after selling $4 billion in debt this week. The prices at which the company sold the debt indicated that investors' fears about the government-sponsored mortgage finance company, while still high, have eased a bit since last month.

And Lehman Brothers rose 81 cents, or 5 percent, to $16.94 amid ongoing speculation that the investment bank is in talks to sell a 25 percent stake in itself to a Korean bank.

But in general, the outlook for stock market is uncertain, and investors have been hesitant to make any large bets.

Investors were unimpressed with the Federal Reserve's latest snapshot of business conditions released Wednesday, in which businesses described the climate as "weak" or "soft" or "subdued."

The big economic headline of the week for Wall Street is likely to be the Labor Department's reading on August employment. The report is expected to show a drop in payrolls for the eighth straight month and another uptick in the unemployment rate.

The prospect of a worsening job market is worrisome to Wall Street, since many companies dependent on consumer demand have been hurting.

Corning Inc. fell $2.42, or 12.4 percent, to $17.08 after reducing its third-quarter sales and earnings-per-share outlook to reflect slower shipments of glass used in flat-screen televisions and computers.

Light, sweet crude futures fell 36 cents to settle at $109.35 a barrel on the New York Mercantile Exchange. The dollar rose against the euro and pound, but weakened against the yen.

European indexes fell after a European Union report showed falling exports and lower household spending caused the euro economy to shrink by 0.2 percent in the second quarter.

"We went from a weakening dollar, strong growth abroad regime to one that has a strengthening dollar and weak growth abroad," said Brian Gendreau, investment strategist for ING Investment Management. "People are trying to figure out what this means for their portfolios. ... No one really has a comprehensive way of sorting this all out."

Britain's FTSE 100 fell 2.15 percent, Germany's DAX index fell 0.78 percent, and France's CAC-40 lost 2.03 percent.

In Japan, the Nikkei stock index rose 0.64 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Dejected investors sent stocks plunging Thursday, hurtling the Dow Jones industrials down more than 340 points after retailers and the government added to a mountain of bad economic news and devastated hopes for a late-year recovery.

The market was already nervous as it waited for the government to release its August employment report on Friday. So news from the nation's major retailers that shoppers curtailed their spending last month due to higher gas and food prices came as a heavy blow.

The NYSE DOW closed LOWER -344.65 points 	-2.99% on Thursday September 4

Sym Last........ ........Change..........
Dow	11,188.23	-344.65	-2.99%
Nasdaq	2,259.04	-74.69	-3.20%
S&P 500	1,236.83	-38.15	-2.99%
30-yr Bond	4.2810%	-0.0370

NYSE Volume	5,303,813,500
Nasdaq Volume	2,391,126,750

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,362.10	-137.60	-2.50%
DAX	6,279.57	-187.92	-2.91%
CAC 40	4,304.01	-143.12	-3.22%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,557.66	-131.93	-1.04%
Hang Seng	20,412.36	-172.70	-0.84%
Straits Times	2,638.95	-67.58	-2.50%

http://biz.yahoo.com/ap/080904/wall_street.html
*Stocks plummet after retail, unemployment data*
Thursday September 4, 6:03 pm ET
By Madlen Read, AP Business Writer
*Wall Street plunges as retail sales reports, jobless data add to market's gloom about economy*

NEW YORK (AP) -- Dejected investors sent stocks plunging Thursday, hurtling the Dow Jones industrials down more than 340 points after retailers and the government added to a mountain of bad economic news and devastated hopes for a late-year recovery.

The market was already nervous as it waited for the government to release its August employment report on Friday. So news from the nation's major retailers that shoppers curtailed their spending last month due to higher gas and food prices came as a heavy blow.

Wal-Mart Stores Inc., the world's largest retailer, beat expectations because of its big discounts, but many teen retailers and luxury chains did poorly, a sign that consumers are spending mostly on essentials and putting discretionary buying on hold.

Meanwhile, the Labor Department said new applications for unemployment insurance rose by 15,000 last week from the previous week. That broadly missed expectations for a fourth-straight week of declines, heightening worries that the average American -- already feeling the effects of the weak housing market -- will have even less means to spend.

Furthermore, if the job market keeps deteriorating, it is tough for Wall Street to see a rebound in sight for the economy's biggest culprit: the tumbling housing market.

"You have to have a paycheck to pay that mortgage," said Craig Peckham, market strategist at Jefferies & Co.

The numbers released Thursday were a sign that despite some upbeat reports over the past month, the economy remains deeply troubled. Investors are not expecting any promising news in the August jobs report, particularly after the ADP National Employment Report said that private sector employment decreased in August by 33,000. Economists are predicting the government will report the eighth straight monthly payrolls drop, and a rise in the unemployment rate.

The market was so disheartened that it showed little reaction when the Institute for Supply Management said the service sector grew unexpectedly in August for the first time in three months as new orders increased and inflation moderated. The August reading of 50.6 was higher than the 50.0 expected, and the reading of 49.2 in July; but the sector's edging above the threshold between contraction and expansion was hardly a sign of a robust economy.

An economic recovery appears to be far off to investors -- and with the Dow down more than 15 percent for the year so far, they don't appear to be holding out for a significant upturn in stocks, either.

"We're seeing nothing but sellers," said Ted Oberhaus, director of equity trading at Lord, Abbett & Co. "In a bear market, you sort of really don't need an excuse to sell."

The Dow fell 344.65, or 2.99 percent, to 11,188.23. It was the worst drop for the blue-chip index since June 26, when it fell more than 358 points, or 3.03 percent.

Broader indexes also tumbled. The Standard & Poor's 500 index fell 38.15, or 2.99 percent, to 1,236.83, and the Nasdaq composite index dropped 74.69, or 3.20 percent, to 2,259.04.

All three indexes moved back into bear market territory, defined as a 20 percent drop from a recent peak. The indexes were at highs, including a record 14,198.09 for the Dow, last October.

As investors fled stocks, they turned to the safety of government bonds, sending Treasury prices higher. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.62 percent from 3.70 percent late Wednesday.

Not even another drop in oil could console investors. After the government reported a lower-than-expected drop in U.S. gasoline and crude supplies, light sweet crude fell $1.46 to settle at $107.89 a barrel on the New York Mercantile Exchange. Crude is about $30 below its July 11 high of $147.27. Gold prices also slid Thursday.

News about housing didn't help the market. Toll Brothers Inc. CEO Robert Toll said he is seeing signs the housing market is stabilizing, but Ara Hovnanian -- CEO of Hovnanian Enterprises Inc. -- said he sees no evidence yet of a market bottom. The stock market appeared to agree with the latter sentiment, sending homebuilder stocks sharply lower.

Toll Brothers performed better than its peers, even after posting a third-quarter loss; its shares rose 27 cents to $25.07. But shares of Hovnanian, which on Wednesday reported a quarterly loss, sank $1.35, or 17.4 percent, to $6.40. Pulte Homes Inc. fell 86 cents, or 5.8 percent, to $12.05, and KB Home fell $1.22, or 5.7 percent, to $20.11.

The financial sector fared poorly on Thursday as well, particular after bond fund manager Bill Gross wrote in a commentary on his firm's Web site that the U.S. Treasury needs to provide funding to mortgage financiers Fannie Mae and Freddie Mac.

Freddie shares fell 30 cents, or 5.6 percent, to $5.08, and Fannie shares fell 65 cents, or 8.9 percent, to $6.67.

The biggest decliners among the 30 Dow components were three financial stocks: Bank of America Corp., which fell $2.36, or 7.2 percent, to $30.60; Citigroup Inc., which fell $1.31, or 6.7 percent, to $28.30; and American International Group Inc., which fell $1.36, or 6 percent, to $21.22.

Wal-Mart's stock ended down only a penny at $59.78, after it said sales of groceries and back-to-school products helped its August same-store sales rise 3 percent, above expectations.

But the discount chain's success was seen as the corollary of a cash-strapped consumer, and other retailers fell. JCPenney Co. fell $2.07, or 5 percent, to $39.57, while Gap Inc. fell 83 cents, or 4.2 percent, to $19.14.

The Russell 2000 index of smaller companies fell 23.29, or 3.14 percent, to 718.62.

Declining issues outpaced advancers by about 5 to 1 on the New York Stock Exchange, where consolidated volume came to 5.11 billion shares, up from 4.94 billion shares on Wednesday.

Overseas, the Bank of England and European Central Bank left their benchmark interest rates unchanged -- a move analysts expected, as both regions face rising inflation and slowing economic growth.

The ECB also decided to make it more expensive for banks to borrow from the central bank against risky assets -- another worry weighing on investors' minds, Jefferies' Peckham said.

Britain's FTSE 100 fell 2.50 percent, Germany's DAX index fell 2.91 percent, and France's CAC-40 shed 3.22 percent. Japan's Nikkei stock closed down 1.04 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average ended the week down 322.59, or 2.79 percent, at 11,220.96. The Standard & Poor's 500 index finished down 40.52, or 3.16 percent, at 1,242.31. The Nasdaq composite index ended the week down 111.64, or 4.72 percent, at 2,255.88.

Wall Street wrestled with intensifying economic worries Friday, extending sharp losses after a disheartening jobs report and then grudgingly engaging in some mild bargain hunting that gave the market some modest gains. The major indexes ended the week with big declines, a sign that investors, who not long ago expected the economy to improve, are now growing increasingly discouraged.

Stocks initially fell after the Labor Department reported that payrolls shrank more than predicted last month and that the unemployment rate reached a five-year high. But stocks that had been pounded lower, including a huge drop on Thursday, were suddenly more attractive to investors willing to make some bets.

The NYSE DOW closed HIGHER +32.73 points 	+0.29% on Friday September 5

Sym Last........ ........Change..........
Dow	11,220.96	+32.73	+0.29%
Nasdaq	2,255.88	-3.16	-0.14%
S&P 500	1,242.31	+5.48	+0.44%
10 Yr Bond(%)	3.6600%	+0.0170

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,240.70	-121.40	-2.26%
DAX	6,127.44	-152.13	-2.42%
CAC 40	4,196.66	-107.35	-2.49%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,212.23	-345.43	-2.75%
Hang Seng	19,933.28	-456.20	-2.24%
Straits Times	2,574.21	-51.84	-1.97%

http://biz.yahoo.com/ap/080905/wall_street.html
Stocks mostly rise as investors snap up financials
Friday September 5, 6:00 pm ET 
By Tim Paradis, AP Business Writer
Stocks mostly rise as investors look for bargains among financials, consumer staples

NEW YORK (AP) -- Wall Street wrestled with intensifying economic worries Friday, extending sharp losses after a disheartening jobs report and then grudgingly engaging in some mild bargain hunting that gave the market some modest gains. The major indexes ended the week with big declines, a sign that investors, who not long ago expected the economy to improve, are now growing increasingly discouraged.

Stocks initially fell after the Labor Department reported that payrolls shrank more than predicted last month and that the unemployment rate reached a five-year high. But stocks that had been pounded lower, including a huge drop on Thursday, were suddenly more attractive to investors willing to make some bets.

The government said payrolls shrank by 84,000 last month, more than the 75,000 economists predicted, and higher than the 51,000 jobs lost in July. The unemployment rate rose to a five-year high of 6.1 percent from 5.7 percent.

The report confirmed Wall Street's fears that the economy continues to weaken. The nation has lost nearly 550,000 jobs so far this year, eroding investors' hopes for a late-year recovery.

"This was an ugly number that pretty much confirms that our economy continues to trend downward," said Jack Ablin, chief investment officer of Harris Private Bank. "I had thought things were stabilizing, and this just knocks the legs out of any hope of seeing much economic improvement right now."

But investors, with little conviction but willing to make a few bets, picked up some of the stocks hit in a sell-off Thursday, particularly banks and insurers. That lifted the market off its lows, but it was hardly a solid advance.

The Dow Jones industrial average rose 32.73, or 0.29 percent, to 11,220.96; the blue chips had been down 150 points at their lows of the session.

Broader stock ended mixed. The Standard & Poor's 500 index rose 5.48, or 0.44 percent, to 1,242.31, and the Nasdaq composite index fell 3.16, or 0.14 percent, to 2,255.88.

Friday's moves follow a dismal performance on Thursday in which all three major indexes moved back into bear market territory, defined as a 20 percent drop from a recent peak. The Dow plunged more than 340 points in a selloff underpinned by disappointing economic news and lackluster sales reports from retailers; the news drove home to investors that the economy was more troubled than many had thought.

For the week, the Dow lost 2.8 percent, its fourth straight week of losses and the biggest drop since late June. The S&P 500 gave up 3.2 percent and the technology-heavy Nasdaq, home to many stocks seen as riskier than the blue chips, fell 4.7 percent.

Bond prices fell Friday as investors took profits from the gains logged earlier in the week. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.69 percent from 3.62 percent late Thursday.

"Since mid-July I think it's become apparent that the global economies have really weakened pretty sharply," said Thomas J. Lee, U.S. equities strategist at JPMorgan Chase & Co. in New York. He said that while investors had been applauding the drop in oil prices since then, there was an assumption that lower commodities prices would hasten a recovery in the U.S. economy. Now, he said, investors are worried that the economy might be weakening even as oil falls.

"It's disinflation coupled with an accelerating downside in the economy. That's not what people were prepared for. I think people were expecting disinflation as an economic recovery was under way," Lee said. "The surge in unemployment today really underscores that fear."

Wall Street again found little comfort from falling oil. Crude dropped to nearly $105 a barrel in Friday's session as the dollar continued to gain on the euro and investors waited to see whether OPEC would move to restrict output next week following a two-month plunge in prices. The Organization of the Petroleum Exporting Countries is scheduled to meet early next week in Vienna and has indicated it may take action to defend the $100-a-barrel level.

Light, sweet crude settled down $1.66 to $106.23 a barrel on the New York Mercantile Exchange.

Among financials carving out advances, Citigroup Inc. rose 77 cents, or 4.2 percent, to $19.07, while Bank of America Corp. rose $1.63, or 5.3 percent, to $32.23. Wachovia Corp. rose $1.22, or 7.9 percent, to $16.75.

Lehman Brothers Holdings Inc. rose $1.03, or 6.8 percent, to $16.20 after a Sandler O'Neill & Co. analyst said he expects the troubled investment bank to survive the credit crisis. The stock has fluctuated on reports that it is hammering out a deal for a cash infusion or buyout.

In the consumer staples sector, smokeless tobacco maker UST Inc. surged following a report from The New York Times that Altria Group Inc. plans to acquire the company. Altria, parent of Marlboro maker Philip Morris USA, dismissed the report as "pure speculation." Nonetheless, UST, the maker of Skoal and Copenhagen brands, jumped $13.55, or 25 percent, to $67.55, while Altria rose 29 cents to $20.95.

Energy names slipped as oil continued its drop. Chevron Corp. declined $1 to $80.22, while ConocoPhillips fell $1.05 to $75.43.

Advancing issues narrowly outnumbered decliners on the New York Stock Exchange, where consolidated volume came to 4.91 billion shares compared with 5.11 billion shares traded Thursday.

The Russell 2000 index of smaller companies rose 0.23, or 0.03 percent, to 718.85.

Investors overseas sent shares sharply lower on concerns about America's effect on global growth.

Japan's Nikkei stock fell 2.75 percent. In Europe, Britain's FTSE 100 ended down 2.26 percent, Germany's DAX index dropped 2.42 percent, and France's CAC-40 shed 2.49 percent.

The Dow Jones industrial average ended the week down 322.59, or 2.79 percent, at 11,220.96. The Standard & Poor's 500 index finished down 40.52, or 3.16 percent, at 1,242.31. The Nasdaq composite index ended the week down 111.64, or 4.72 percent, at 2,255.88.

The Russell 2000 index finished the week down 20.65, or 2.79 percent, at 718.85.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 12,702.58, down 421.91 points, or 3.21 percent, for the week. A year ago, the index was at 14,846.39.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Stocks rallied Monday as investors placed bets that a recovery in the financial and housing sectors is more likely to occur following the U.S. government's move to bail out mortgage giants Fannie Mae and Freddie Mac. The Dow Jones industrials gained nearly 300 points.

The announcement Sunday that the Treasury Department was seizing control of the companies, which own or back about half the nation's mortgage debt, brushed aside investors' long-simmering worries that the pair would be felled by a spike in bad mortgage debt.

The NYSE DOW closed HIGHER +290.43 points    +2.59% on Monday September 8

Sym Last........ ........Change..........
Dow    11,510.74    +290.43    +2.59%
Nasdaq    2,269.76    +13.88    +0.62%
S&P 500    1,267.79    +25.48    +2.05%
30-yr Bond    4.2690%    -0.0070

NYSE Volume    7,329,060,500
Nasdaq Volume    2,602,526,000

*Europe*
Symbol... Last...... .....Change.......
FTSE 100    5,446.30    +205.60    +3.92%
DAX    6,263.74    +136.30    +2.22%
CAC 40    4,340.18    +143.52    +3.42%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225    12,624.46    +412.23    +3.38%
Hang Seng    20,794.27    +860.99    +4.32%
Straits Times    2,697.03    +122.82    +4.77%

http://biz.yahoo.com/ap/080908/wall_street.html

*Stocks rally on plan for mortgage giants*
Monday September 8, 5:44 pm ET 
By Tim Paradis, AP Business Writer  
*Wall Street ends sharply higher as government unveils plan to rescue Fannie Mae, Freddie Mac *

NEW YORK (AP) -- Stocks rallied Monday as investors placed bets that a recovery in the financial and housing sectors is more likely to occur following the U.S. government's move to bail out mortgage giants Fannie Mae and Freddie Mac. The Dow Jones industrials gained nearly 300 points.

The announcement Sunday that the Treasury Department was seizing control of the companies, which own or back about half the nation's mortgage debt, brushed aside investors' long-simmering worries that the pair would be felled by a spike in bad mortgage debt.

Investors were hoping that the plan to inject up to $100 billion in each of the government-chartered mortgage financiers could not only help lower mortgage rates but perhaps help buoy the overall economy. The move could help banks feel more open to write new mortgages and to refinance existing mortgages at lower rates, offering a possible lifeline to consumers struggling with increasing payments.

But the government's steadying hand for two institutions that many Wall Street observers had said were simply too big to let fail isn't likely to alleviate troubles for homeowners who have fallen far behind on their mortgages.

Dave Rovelli, managing director of U.S. equity trading at Canaccord Adams in New York, said that while the plan boosts confidence in sectors like financials and home builders, it doesn't immediately alleviate worries about other areas of the economy. Still, he said the move was far more welcome than a collapse of Fannie Mae or Freddie Mac.

"It saves Armageddon from happening," he said. "If you think about it, this helps the financials, this helps the housing market. Tech took a huge hit last week. Does this really affect tech? I don't think so."

The Dow Jones industrial average rose 289.78, or 2.58 percent, to 11,510.74 after being up nearly 350 points in the early going.

Broader stock indicators were also higher. The Standard & Poor's 500 index advanced 25.48, or 2.05 percent, to 1,267.79, and the Nasdaq composite index added 13.88, or 0.62 percent, to 2,269.76.

Bond prices edged higher in late trading on Monday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.68 percent from 3.69 percent late Friday. The dollar was higher against other major currencies, while gold prices rose.

Common shares of Fannie Mae and Freddie Mac will be made virtually worthless by the plan, which will dilute the stock. But the companies' shares had already suffered huge declines in the last year so many shareholders have already endured the majority of their losses.

Fannie Mae shares plunged $6.34, or 90.1 percent, to 70 cents, while Freddie Mac fell $4.21, or 83 percent, to 89 cents.

"This was another needed piece of the puzzle with regard to eliminating fear and stress in the market," said Jim Dunigan, chief investment officer for PNC Wealth Management in Philadelphia, referring to the government's move. "It helps with the balance sheet questions that are out there for financials without a doubt."

Still, Dunigan remains cautious.

"This isn't a magic wand. We're probably going to see another couple bank failures," he said.

The government's action may raise protests from upset shareholders. While Fannie was able to raise $7.4 billion in capital earlier this year, Freddie Mac was unable to fulfill its promise to raise $5.5 billion in capital.

"The Fannie shareholders have a lot of questions that need to be answered from their board of directors," said Doug Daschille, chief executive of investment firm First Principles Capital Management.

Other financial names rallied, particularly those seen as having big exposure to mortgages. Bank of America Corp. jumped $2.50, or 7.7 percent, to $34.73, while Wachovia Corp. rose $2.24, or 13.4 percent, to $18.99. Citigroup Inc. rose $1.25, or 6.6 percent, to $20.32.

Among financials, Lehman Brothers Holdings Inc. was one of the few decliners, falling $2.05, or 12.7 percent, to $14.15 as investors worried that the No. 4 U.S. investment bank was having trouble finding an investor to help shore up its balance sheet.

Home builders also gained ground alongside most financials. Lennar Corp. rose $1.39, or 10.3 percent, to $14.95, and KB Home advanced $2.93, or 14.2 percent, to $23.54.

In the tech space, SanDisk Corp. fell $1.04, or 5.9 percent, to $16.60, while Apple Inc. fell $2.26 to $157.92. Investors are worried the slowing economies overseas will damp demand.

The U.S. government's plan also touched off a global stock rally Monday. Japan's Nikkei stock average jumped 3.4 percent and Hong Kong's Hang Seng index surged 4.3 percent. Britain's FTSE 100 jumped 3.92 percent, Germany's DAX index rose 2.22 percent, and France's CAC-40 surged 3.42 percent.

Light, sweet crude for October delivery rose 11 cents to settle at $106.34 a barrel on the New York Mercantile Exchange. Hurricane Ike fanned unease about the well-being of Gulf of Mexico oil infrastructure that could be in its path.

In corporate news, Washington Mutual Inc. fell 15 cents, or 3.5 percent, to $4.12 after removing Kerry Killinger from the chief executive spot.

United Airlines parent UAL Corp. fell $1.38, or 11 percent, to $10.92 but came well off its lows of the session after the company said an old news report about the company's 2002 bankruptcy filing appeared on a newspaper Web site Monday, stirring fears that the company was filing again. United, which emerged from bankruptcy in February 2006, said reports that it filed for bankruptcy were "completely untrue."

Advancing issues outnumbered decliners by about 2 to 1 on the New York Stock Exchange, where consolidated volume came to 7.17 billion shares compared to 4.91 billion on Friday.

The Russell 2000 index of smaller companies rose 14.01, or 1.95 percent, to 732.86.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Stocks ended a temperamental session moderately higher Wednesday as investors bought up the stocks of energy, materials and consumer-staple companies, but remained cautious about the beleaguered financial sector.

Bank and brokerage stocks finished mostly lower after Lehman Brothers Holdings Inc. said it plans to sell a majority stake in its investment management business and spin off its troubled mortgage assets.

The NYSE DOW closed HIGHER +38.19 points	+0.34% on Wednesday September 10

Sym Last........ ........Change..........
Dow	11,268.92	+38.19	+0.34%
Nasdaq	2,228.70	+18.89	+0.85%
S&P 500	1,232.04	+7.53	+0.61%
30-yr Bond	4.2250%	+0.0330

NYSE Volume	6,506,576,500
Nasdaq Volume	2,320,215,250

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,366.20	-49.40	-0.91%
DAX	6,210.32	-23.09	-0.37%
CAC 40	4,283.66	-9.68	-0.23%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,346.63	-54.02	-0.44%
Hang Seng	19,999.78	-491.33	-2.40%
Straits Times	2,622.41	-50.80	-1.90%

http://biz.yahoo.com/ap/080910/wall_street.html
*Stocks rise modestly as Street mulls Lehman plan*
Wednesday September 10, 4:44 pm ET
By Tim Paradis, AP Business Writer
*Stocks end moderately higher as Street mulls Lehman plan; energy, materials give market a lift*

NEW YORK (AP) -- Stocks ended a temperamental session moderately higher Wednesday as investors bought up the stocks of energy, materials and consumer-staple companies, but remained cautious about the beleaguered financial sector.

Bank and brokerage stocks finished mostly lower after Lehman Brothers Holdings Inc. said it plans to sell a majority stake in its investment management business and spin off its troubled mortgage assets.

On Tuesday, unease about Lehman touched off a broad selloff on worries that the No. 4 U.S. securities company had few options to raise capital. The already beaten down stock lost nearly half its value Tuesday as investors fretted the company would succumb to soured mortgage debt and other financial ills.

Bargain-seeking investors often pick over hard-hit stocks after big pullbacks, so some buying wasn't surprising Wednesday. Investors bought up energy names after they tumbled Tuesday and looked to defensive areas like consumer staples.

But Lehman shares fell another 54 cents, or 6.9 percent, to close at $7.25, after plummeting 45 percent on Tuesday.

"They're trying to buy time, but it's very dangerous on Wall Street to buy time. You need to be able to do business," Axel Merk, portfolio manager at Merk Funds, said of Lehman's plans. "I don't think we're at the end of the financial problems in the markets."

According to preliminary calculations, the Dow Jones industrial average rose 38.19, or 0.34 percent, to 11,268.92, after dipping briefly into negative territory, rising by nearly 150 points, and then pulling back again.

Broader stock indicators also rose. The Standard & Poor's 500 index rose 7.53, or 0.61 percent, to 1,232.04, and the Nasdaq composite index rose 18.89, or 0.85 percent, to 2,228.70.

The Dow fell 2.4 percent Tuesday, essentially erasing big gains logged Monday, while the S&P 500 fell 3.4 percent and the Nasdaq composite index lost 2.6 percent.

Bond prices fell Wednesday after a run-up Tuesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.61 percent from 3.59 percent late Tuesday. The dollar moved higher against most other major currencies, while gold prices fell.

Oil fell in fractious trading as strength in the dollar and indications of a weakening economy overshadowed OPEC's decision to cut back excess production. Light, sweet crude fell 68 cents to settle at $102.58 per barrel on the New York Mercantile Exchange.

Wall Street has grappled with worries about the financial sector since the near-collapse and subsequent sale of Bear Stearns Cos. in March. Banks such as Lehman have struggled in the past year with unwieldy amounts of mortgage-backed securities and other risky investments on their books that have plunged in value.

Many Wall Street observers contend the stock market will not be able to carve out a sustained recovery until investors can determine the scale of losses in the financial sector. Global banks have written off more than $300 billion in bad investments.

"There's always hope every time one of these shoes drops that it's the last shoe, and that lasts for a day," said Ron Kiddoo, chief investment officer at Cozad Asset Management, pointing to Wall Street's about-face Tuesday when relief over a government bailout of mortgage lenders Fannie Mae and Freddie Mac gave way to fresh worries over Lehman.

"You get the feeling that they don't really all know where the problems are," he said. "We need a quarter with these financial companies where they're not doing all these big write-offs."

Washington Mutual Inc. sank 98 cents, or 30 percent, to $2.32 after credit ratings agency Standard & Poor's Ratings Services reduced its outlook on the bank and anxiety grew over its ability to stay in business.

But in the energy group, Exxon Mobil Corp. rose $1.99, or 2.7 percent, to $75.25, while Chevron Corp. advanced $2.37, or 3 percent, to $81.16.

U.S. Steel Corp. rose $6.36, or 6.8 percent, to $100.05, while Freeport-McMoran Copper & Gold Inc. rose $4.02, or 6.2 percent, to $69.18.

Consumer-staples companies such as Wal-Mart Stores Inc. advanced. Wal-Mart rose 89 cents to $62.02 after setting a new 52-week high of $62.48; the previous high was $62.36.

FedEx Corp. rose $3.11, or 3.7 percent, to $87.86 after the package delivery company said it expects its fiscal first-quarter profit will top its own forecast because of lower fuel costs and efforts to trim expenses.

Advancing issues outnumbered decliners by about 8 to 7 on the New York Stock Exchange, where volume came to 1.55 billion shares.

The Russell 2000 index of smaller companies rose 9.87, or 1.40 percent, to 717.16.

Overseas, Japan's Nikkei stock average fell 0.44 percent. Britain's FTSE 100 fell 0.91 percent, Germany's DAX index declined 0.37 percent, and France's CAC-40 fell 0.23 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Stocks made a sizable comeback Thursday, as investors snapped up some of the financial sector's stronger players and pumped money into the materials and transportation sectors. The Dow Jones industrial average rose more than 160 points.

A drop in crude below $101 a barrel also helped reverse Wall Street's early losses, particularly among automaker and transportation stocks like railroad CSX Corp., Ford Motor Co. and General Motors Corp.

The NYSE DOW closed HIGHER +164.79 points	+1.46% on Thursday September 11

Sym Last........ ........Change..........
Dow	11,433.71	+164.79	+1.46%
Nasdaq	2,258.22	+29.52	+1.32%
S&P 500	1,249.05	+17.01	+1.38%
30-yr Bond	4.2140%	-0.0110

NYSE Volume	6,931,626,500
Nasdaq Volume	2,324,410,000

Europe
Symbol... Last...... .....Change.......
FTSE 100	5,318.40	-47.80	-0.89%
DAX	6,178.90	-31.42	-0.51%
CAC 40	4,249.07	-34.59	-0.81%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225	12,102.50	-244.13	-1.98%
Hang Seng	19,388.72	-611.06	-3.06%
Straits Times	2,541.15	-81.26	-3.10%

http://biz.yahoo.com/ap/080911/wall_street.html
*Stocks rebound, but Lehman remains a worry*
Thursday September 11, 6:19 pm ET
By Tim Paradis, AP Business Writer
*Wall Street embarks on a big rebound despite worries over Lehman Brothers*

NEW YORK (AP) -- Stocks made a sizable comeback Thursday, as investors snapped up some of the financial sector's stronger players and pumped money into the materials and transportation sectors. The Dow Jones industrial average rose more than 160 points.

A drop in crude below $101 a barrel also helped reverse Wall Street's early losses, particularly among automaker and transportation stocks like railroad CSX Corp., Ford Motor Co. and General Motors Corp.

Early in the day, most bank stocks sold off on nervousness about Lehman Brothers Holdings Inc.'s announcement Wednesday that it plans to sell its investment management unit and spin off its commercial real estate assets. The company is seeking to raise cash after making bad bets on holdings tied to real estate.

Traders and analysts appeared unimpressed with the steps outlined by the nation's No. 4 investment bank, punishing the stock. Citigroup and Goldman Sachs lowered their ratings on the stock to "hold" from "buy." Lehman fell $3.03, or nearly 42 percent, to close at $4.22.

"The steps they're taking are being seen by Wall Street as too little, too late," said Arthur Hogan, chief market analyst at Jefferies & Co., referring to Lehman. "You're looking at a company that was a $10 billion company last week that is a $3 billion company today."

But later in the day, major names including JPMorgan Chase & Co., Wells Fargo & Co., and even the embattled Washington Mutual Inc. soared.

"Not everybody's in trouble, and people are realizing that," said Anthony Conroy, managing director and head trader for BNY ConvergEx Group. He added, however, that the market is very rumor-driven right now -- which can make for very volatile price movements.

After the market closed Thursday, Washington Mutual announced that it expects its third-quarter provision for loan losses to be about $4.5 billion, down from $5.9 billion in the second quarter.

The Dow rose 164.79, or 1.46 percent, to 11,433.71, after falling by as many as 170 points in the early going.

Broader stock indicators rose. The Standard & Poor's 500 index rose 17.01, or 1.38 percent, to 1,249.05, while the Nasdaq composite index rose 29.52, or 1.32 percent, to 2,258.22.

The market has been changing moods feverishly this week, and rallies in the indexes on Thursday belied an underlying weakness. Declining issues outnumbered advancers by about 9 to 7 on the New York Stock Exchange, where consolidated volume came to 6.64 billion shares, up from 6.29 billion shares on Wednesday.

The Russell 2000 index of smaller companies rose 1.84, or 0.26 percent, to 719.00.

A few marquee financial names on Wall Street logged steep declines as investors worried about the health of their balance sheets. Merrill Lynch & Co. fell $3.87, or 16.6 percent, to $19.43, and Wachovia Corp. dropped 80 cents, or 5.3 percent, to $14.28.

But JPMorgan rose $2.25, or 5.7 percent, to $41.65; Wells Fargo rose $2.15, or 6.8 percent, to $33.85; and WaMu recovered from a steep loss to finish up 51 cents, or 22 percent, at $2.83.

Government bond prices ended little changed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was 3.64 percent, up slightly from 3.63 percent late Wednesday. The dollar was mixed against most other major currencies, while gold prices fell sharply.

Light, sweet crude fell $1.71 to settle at $100.87 a barrel on the New York Mercantile Exchange as a strengthening dollar added to investors' buying power. Still, gasoline prices were up, and the market kept at watchful eye on Hurricane Ike amid worries that it could damage energy installations in the Gulf of Mexico.

Investors also faced fresh concerns about consumers after the Labor Department reported that the number of people seeking jobless benefits dropped 6,000 last week to a seasonally adjusted 445,000. Analysts, on average, had expected a reading of 440,000. The four-week moving average rose slightly to 440,000.

The average number of claims remains at a level that some economists say is worrisome. And the report comes a week after the government said the nation's unemployment rate rose to 6.1 percent in August, a five-year high. A shaky job market can be hard on consumers who also face tighter credit and a weak housing market. That worries investors because consumer spending accounts for more than two-thirds of U.S. economic activity.

In other economic news, the Commerce Department said the nation's trade deficit jumped in July to the highest level in 16 months as oil imports reached a new high. That offset strong export growth.

Transportation names advanced as falling oil eased worries about fuel costs and after railroad CSX Corp. raised its 2008 and long-term financial forecasts. CSX rose $5.85, or 10.7 percent, to $60.70.

UAL Corp.'s United Airlines advanced $1.15, or 11.5 percent, to $11.12. Continental Airlines Inc. rose $2.44, or 15.2 percent, to $18.51 after the company said it expects to draw more money from customers as it cuts costs and raises fees for checked bags.

General Motors Corp. rose $1.33, or 11.7 percent, to $12.75. GM was the biggest gainer among the 30 stocks comprising the Dow industrials.

Overseas, Japan's Nikkei stock average fell 1.98 percent. Britain's FTSE 100 fell 0.89 percent, Germany's DAX index fell 0.51 percent, and France's CAC-40 lost 0.81 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average ended the week up 201.03, or 1.79 percent, at 11,421.99. The Standard & Poor's 500 index finished up 9.39, or 0.76 percent, at 1,251.70. The Nasdaq composite index ended the week up 5.39, or 0.24 percent, at 2,261.27.

Dow 11,220.96 on Friday Sept - weekly chart looks odd but certainly up!

Stocks finished another volatile session narrowly mixed Friday, as gains in the energy, utilities and materials sectors offset some of Wall Street's angst over the fate of Lehman Brothers Holdings Inc.

The NYSE DOW closed LOWER -11.72 points	-0.10% on Friday September 12

Sym Last........ ........Change..........
Dow	11,421.99	-11.72	-0.10%
Nasdaq	2,261.27	+3.05	+0.14%
S&P 500	1,251.70	+2.65	+0.21%
30-yr Bond	4.3260%	+0.1120

NYSE Volume	6,351,894,000
Nasdaq Volume	2,025,782,120

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,416.70	+98.30	+1.85%
DAX	6,234.89	+55.99	+0.91%
CAC 40	4,332.66	+83.59	+1.97%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,214.76	+112.26	+0.93%
Hang Seng	19,352.90	-35.82	-0.18%
Straits Times	2,570.67	+29.52	+1.16%

http://biz.yahoo.com/ap/080912/wall_street.html
*Stocks mixed as energy sector rises, Lehman falls*
Friday September 12, 6:14 pm ET
By Tim Paradis, AP Business Writer
*Wall Street ends mixed on Lehman worries, but energy, utilities and materials stocks rise*

NEW YORK (AP) -- Stocks finished another volatile session narrowly mixed Friday, as gains in the energy, utilities and materials sectors offset some of Wall Street's angst over the fate of Lehman Brothers Holdings Inc.

The three major indexes all managed to end the week higher.

The troubles of the financial sector dominated trading, as investors tried to glean insights into Lehman's race to sell itself or otherwise regain Wall Street's confidence. The company's shares have spiraled lower this week, heaping pressure on executives at the No. 4 U.S. investment bank to line up a buyer or source of fresh cash.

Lehman shares -- which tumbled 42 percent Thursday and are down more than 94 percent for the year -- fell another 57 cents, or 13.5 percent, to $3.65 on Friday.

The market is anticipating that Lehman will arrive at a deal over the weekend, said Ryan Larson, senior equity trader at Voyageur Asset Management. Lehman, the government and other banks have been declining to comment officially on the issue, but bankers and industry executives have been saying that Lehman is working feverishly to find a buyer.

While a deal would provide some closure on the issue, it won't likely be an antidote for the turbulent market, Larson said.

"Once this deal gets done," Larson said, "you'll see sentiment shift to: Who's next?"

An unexpected slowdown at cash registers last month also weighed on the stock market Friday, particularly on shares of retailers and other consumer discretionary stocks. The Commerce Department said retail sales fell by 0.3 percent in August.

The Dow Jones industrials fell 11.72, or 0.10 percent, to 11,421.99, after falling more than 150 points in the early going.

Broader stock indicators also came well off their lows. The Standard & Poor's 500 index rose 2.65, or 0.21 percent, to 1,251.70, and the Nasdaq composite index rose 3.05, or 0.14 percent, 2,261.27.

The Dow finished the week up 1.79 percent; the S&P finished up 0.76 percent; and the Nasdaq ended up 0.24 percent.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.72 percent in late trading from 3.64 percent late Thursday. The dollar was down against the euro and the British pound and up against the Japanese yen. Gold prices rose.

Light, sweet crude rose 31 cents to settle at $101.18 a barrel on the New York Mercantile Exchange after briefly crossing below the $100 mark for the first time in five months. Investors tracked Hurricane Ike, which churned across the Gulf of Mexico toward the Texas coast and refining and drilling operations in the region.

Worries about risky debt have been hitting other financial stocks this week. American International Group Inc. fell $5.41 on Friday, or more than 30 percent, to $12.14, making it by far the biggest decliner among the 30 stocks that make up the Dow Jones industrial average.

Merrill Lynch & Co. fell $2.38, or 12.3 percent, to $17.05, while Washington Mutual Inc. slipped 10 cents, or 3.5 percent, to $2.73.

"I think everyone talks about more shoes to drop, and of course there have been a couple of those this week with Fannie and Freddie and Lehman. Hopefully it means we'll be getting closer to the end," said Russell Croft of Croft Value Fund.

Last Sunday, the government took over the mortgage financiers Fannie Mae and Freddie Mac -- which on Monday sent the Dow soaring nearly 300 points. Those gains were erased the next day, however, when worries about Lehman resurfaced.

The economic outlook is also keeping the markets volatile.

After the Commerce Department's report on retail sales, investors turned cautious on retailers and other companies that rely on discretionary spending. Sluggishness in buying is an unnerving prospect for Wall Street because consumer spending accounts for more than two-thirds of U.S. economic activity. Macy's Inc. fell $1.04, or 4.8 percent, to $20.81, while Best Buy Co. fell $1.51, or 3.3 percent, to $44.49.

Not all the economic news was unwelcome Friday. Another government report showing a bigger-than-expected drop in wholesale inflation -- the steepest decline in nearly two years -- at least eased some worries about pricing pressure. And a Reuters/University of Michigan survey on sentiment showed consumers are more upbeat than they were earlier in the summer when energy prices were higher.

Beyond the financial sector, energy and materials names advanced, such as Dow components Exxon Mobil Corp., which rose $1.94, or 2.6 percent, to $77.50, and Alcoa Inc., which rose $1.05, or 3.8 percent, to $28.67.

Ford Motor Co. rose 23 cents, or 4.9 percent, to $4.91, while Dow component General Motors Corp. rose 26 cents, or 2 percent, to $13.01. A Goldman Sachs analyst wrote in a note to clients that "it is more likely than not" that a loan program for automakers could receive at least partial funding before Congress adjourns this fall.

Advancing issues outnumbered decliners by about 9 to 7 on the New York Stock Exchange, where consolidated volume came to 6.11 billion shares, down from 6.64 billion shares on Thursday.

The Russell 2000 index of smaller companies rose 1.26 or 0.18 percent, to 720.26.

Overseas, Japan's Nikkei stock average rose 0.93 percent. Britain's FTSE 100 rose 1.85 percent, Germany's DAX index added 0.91 percent, and France's CAC-40 climbed 1.97 percent.

The Dow Jones industrial average ended the week up 201.03, or 1.79 percent, at 11,421.99. The Standard & Poor's 500 index finished up 9.39, or 0.76 percent, at 1,251.70. The Nasdaq composite index ended the week up 5.39, or 0.24 percent, at 2,261.27.

The Russell 2000 index finished the week up 1.41, or 0.20 percent, at 720.26.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended at 12,764.88, up 62.3 points, or 4.90 percent, for the week. A year ago, the index was at 14,927.60.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Stocks fall sharply following Lehman bankruptcy, Merrill sale; Dow falls more than 500 points

A stunning makeover of the Wall Street landscape sent stocks falling precipitously Monday, with the Dow Jones industrials sliding 500 points in their worst point drop since the September 2001 terrorist attacks. Investors reacted badly to a shakeup of the financial industry that took out two storied names: Lehman Brothers Holdings Inc. and Merrill Lynch & Co.

Stocks also posted big losses in markets across much of the globe as investors absorbed Lehman's bankruptcy filing and what was essentially a forced sale of Merrill Lynch to Bank of America for $50 billion in stock. While those companies' situations had reached some resolution, the market remained anxious about American International Group Inc., which is seeking emergency funding to shore up its balance sheet. A faltering of the world's largest insurance company likely would have financial implications far beyond that of Lehman, the largest U.S. bankruptcy.

The NYSE DOW closed LOWER -504.48 points	-4.42% on Monday September 15

Sym Last........ ........Change..........
Dow	10,917.51	-504.48	-4.42%
Nasdaq	2,179.91	-81.36	-3.60%
S&P 500	1,192.69	-59.01	-4.71%
30-yr Bond	4.1520%	-0.1740

NYSE Volume	8,310,149,500

Nasdaq Volume	2,720,704,000

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,204.20	-212.50	-3.92%
DAX	6,064.16	-170.73	-2.74%
CAC 40	4,168.97	-163.69	-3.78%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,214.76	+112.26	+0.93%
Hang Seng	19,352.90	-35.82	-0.18%
Straits Times	2,486.55	-84.12	-3.27%

http://biz.yahoo.com/ap/080915/wall_street.html
*Stocks tumble amid new Wall Street landscape*
Monday September 15, 4:31 pm ET
By Tim Paradis, AP Business Writer
*Stocks fall sharply following Lehman bankruptcy, Merrill sale; Dow falls more than 500 points*

NEW YORK (AP) -- A stunning makeover of the Wall Street landscape sent stocks falling precipitously Monday, with the Dow Jones industrials sliding 500 points in their worst point drop since the September 2001 terrorist attacks. Investors reacted badly to a shakeup of the financial industry that took out two storied names: Lehman Brothers Holdings Inc. and Merrill Lynch & Co.

Stocks also posted big losses in markets across much of the globe as investors absorbed Lehman's bankruptcy filing and what was essentially a forced sale of Merrill Lynch to Bank of America for $50 billion in stock. While those companies' situations had reached some resolution, the market remained anxious about American International Group Inc., which is seeking emergency funding to shore up its balance sheet. A faltering of the world's largest insurance company likely would have financial implications far beyond that of Lehman, the largest U.S. bankruptcy.

The swift developments that took place Sunday are the biggest yet in the 14-month-old credit crises that stems from now toxic subprime mortgage debt. For the first part of Monday's trading, the market was falling, but in a largely orderly fashion as investors seemed to draw some relief from the resolution of Lehman's problems.

But as the session wore on, and there was no word about AIG, the market's suffered another bout of fear that the ongoing credit crisis will continue to devastate the financial sector, and selling accelerated in the final hour.

Investors are worried that trouble at AIG and the bankruptcy filing by Lehman, felled by $60 billion in bad debt and a dearth of investor confidence, will touch off another series of troubles for banks and financial institutions that may be forced to further write down the value of their own debt assets. Wall Street had been hopeful six months ago that the collapse of Bear Stearns would mark the darkest day of the credit crisis.

AIG's troubles a week after its stock dropped 45 percent are worrisome for some investors because of the company's enormous balance sheet and the risks that troubles with that companies finances could spill over to the companies with which it does business. AIG, one of the 30 stocks that make up the Dow industrials, fell $6.93, or 57 percent, to $5.21 Monday as investors worried that it would be the subject of downgrades from credit ratings agencies.

According to preliminary calculations, the Dow fell 504.48, or 4.42 percent, to 10,917.51, moving below the 11,000 mark for the first time since mid-July. It was the worst point drop for the Dow since it lost 684.81 on Sept. 17, 2001, the first day of trading after the terror attacks. It was also the sixth-largest point drop in the Dow, just behind the 508.00 it suffered in the October 1987 crash.

Broader stock indicators also fell. The Standard & Poor's 500 index declined 58.74, or 4.69 percent, to 1,192.96, and the Nasdaq composite index fell 81.36, or 3.60 percent, to 2,179.91.

The S&P 500 broke through the 1,200.44 trading low seen in mid-July, a key level traders watch. Much of the trading day until about the last hour had been orderly because the market had tested another key level early in the session and managed to stay above it. But the eventual drift lower prompted some investors to hit the "sell" button.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street ended another tumultuous session with a sizable gain Tuesday, partly recovering from its worst sell-off in years after the Federal Reserve said it was keeping interest rates steady. The central bank soothed fears of a worsening financial crisis even as the market waited to learn the fate of troubled insurer American International Group Inc.

In a statement accompanying its decision, the Fed noted the growing strains in the financial markets a day after the Dow Jones industrials plunged 504 points in reaction to continuing turmoil in the financial sector. The Fed also noted the ongoing weakening of the labor market. But it also sought to give some reassurance by saying it expected its policy moves to foster moderate economic growth over time.


he NYSE DOW closed HIGHER +141.51    +1.30% on Tuesday September 16

Sym Last........ ........Change..........
Dow    11,059.02    +141.51    +1.30%
Nasdaq    2,207.90    +27.99    +1.28%
S&P 500    1,213.60    +20.90    +1.75%
30-yr Bond    4.0950%    -0.0570

NYSE Volume    9,536,237,000
Nasdaq Volume    3,224,972,250

*Europe*
Symbol... Last...... .....Change.......
FTSE 100    5,083.40    -120.80    -2.32%
DAX    5,996.25    -67.91    -1.12%
CAC 40    4,087.40    -81.57    -1.96%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225    11,609.72    -605.04    -4.95%
Hang Seng    18,300.61    -1,052.29    -5.44%
Straits Times    2,461.43    -25.12    -1.01%

http://biz.yahoo.com/ap/080916/wall_street.html
Wall Street ended another tumultuous session with a sizable gain Tuesday, partly recovering from its worst sell-off in years after the Federal Reserve said it was keeping interest rates steady. The central bank soothed fears of a worsening financial crisis even as the market waited to learn the fate of troubled insurer American International Group Inc.

In a statement accompanying its decision, the Fed noted the growing strains in the financial markets a day after the Dow Jones industrials plunged 504 points in reaction to continuing turmoil in the financial sector. The Fed also noted the ongoing weakening of the labor market. But it also sought to give some reassurance by saying it expected its policy moves to foster moderate economic growth over time.

Still, the fact that the Fed didn't lower rates was a sign that it doesn't believe the economy needs that type of stimulus. It reiterated that it believed its moves to inject more liquidity into the banking system to help struggling financial institutions would help them, and in turn the economy overall.

"This was the right thing to do," said Tom Higgins, chief economist at Payden & Rygel Investment Management in Los Angeles. "I just don't think the Fed should be responding to the financial market crisis at this stage."

He contends other moves, like broadening the type of collateral the Fed accepts from banks and adding money to the banking system are more effective at addressing credit troubles.

According to preliminary calculations, the Dow rose 141.51, or 1.30 percent, to 11,059.02, after falling about 100 points immediately after the Fed announcement. The Dow at turns rose and fell as much as 175 points in fractious trading; on Monday, it suffered its largest drop since the September 2001 terror attacks.

Broader stock indicators advanced. The Standard & Poor's 500 index rose 20.90, or 1.75 percent, to 1,213.60, and the Nasdaq composite index rose 27.99, or 1.28 percent, to 2,207.90.

On Monday, the Dow fell 4.4 percent, the S&P gave up 4.7 percent and the Nasdaq fell 3.6 percent.

Bond prices fell sharply Tuesday as investors turned away from the safety of government debt. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.52 percent from 3.41 percent late Monday. The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude for October delivery fell $3.70 to settle at $92.01 a barrel on the New York Mercantile Exchange, bringing its two-day decline to $10, as investors placed bets that a slowing economy will crimp demand. Gas prices continued to following the disruption to supplies brought by Hurricane Ike, though they were expected to moderate in the coming weeks.

Worries about AIG's well-being have intensified this week after several ratings agencies downgraded the company. Investors fear that a failure by the world's largest insurer would touch off a wave of financial turmoil.

But speculation that the company might be working out a loan from the government corralled some of the market's worries about the company and the stock finished well off its lows. The stock fell $1.01, or 21 percent, to $3.75 after trading as low as $1.25.

Markets around the world have been reeling this week from the bankruptcy filing of Lehman Brothers Holdings Inc. and the quickly assembled weekend sale of Merrill Lynch & Co. to Bank of America Corp. Investors worry that tectonic shifts in the power structure of Wall Street signal that the financial sector's trouble with imperiled credit are far from over.

But the partial recovery in shares of AIG as well and some of the other financial stocks that led the market lower Monday were a welcome boost to investor sentiment. JPMorgan Chase & Co. rose $3.74, or 10 percent, to $40.74, while Wells Fargo & Co. rose $3.93, or 13 percent, to $34.93.

Steven Goldman, chief market strategist at Weeden & Co., said investors are starting to examine even troubled sectors like banks to pluck out those that have managed to sidestep the worst of the credit troubles.

"There are some silver linings in a dire picture," he said, referring to some of the gainers.

Names that investors often rely on as safe bets in a weak economy also rose. Wal-Mart Stores Inc. advanced 51 cents to $62.14, while McDonald's Corp. rose 57 cents to $64.29.

The market showed little reaction to the first drop in the Labor Department's Consumer Price Index in nearly two years. The CPI fell 0.1 percent last month, while the index excluding food and energy costs edged up a mild 0.2 percent. Both figures were in line with analyst expectations.

In corporate news, Goldman Sachs Group Inc., the largest of the two big independent investment banks on Wall Street, posted its sharpest decline in earnings since becoming a public company in 1999. The company said quarterly earnings fell 70 percent from a year earlier and that it saw a marked decrease in client activity. The profit results were better than Wall Street had been expecting, though revenue fell short. The stock fell $2.49 to $133.01.

Morgan Stanley, Goldman's smaller rival, fell $3.49, or 11 percent, to $28.70 and reported better-than-expected results after the closing bell.

Dell Inc. warned that it sees a further softening in global demand in the current quarter. The computer manufacturer fell $2.01, or 11 percent, to $15.98.

Hewlett-Packard Co. announced plans Monday to cut 24,600 jobs, or about 8 percent of its work force, over the next three years as it works through its acquisition of technology-services company Electronic Data Systems Corp. HP shares were little changed early Tuesday. HP rose $3.08, or 6.8 percent, to $48.41.

The Russell 2000 index of smaller companies rose 20.89, or 3.03 percent, to 710.65.

Overseas, markets in Asia fell sharply Tuesday after being closed Monday. Japan's Nikkei stock average fell 4.95 percent. Hong Kong's Hang Seng index lost 5.44 percent.

In Europe, Britain's FTSE 100 fell 3.43 percent, Germany's DAX index lost 1.63 percent, and France's CAC-40 fell 1.96 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

http://biz.yahoo.com/ap/080917/aig.html

*Government steps in again, bails out AIG with $85B*
Wednesday September 17, 7:08 am ET
By Jeannine Aversa, Ieva M. Augstums and Stephen Bernard, AP Business Writers
*Government saves AIG with $85 billion loan, takes 80 percent stake in battered insurance giant*

WASHINGTON (AP) -- Another day, but not just another bailout. This one's more like a government takeover.

The U.S. government stepped in Tuesday to rescue American International Group Inc., one of the world's largest insurers, with an $85 billion injection of taxpayer money. Under the deal, the government will get a 79.9 percent stake in AIG and the right to remove senior management.

AIG's chief executive, Robert Willumstad, is expected to be replaced by Edward Liddy, the former head of insurer Allstate Corp., according to The Wall Street Journal, citing a person it did not name. Willumstad had been at the helm of AIG since June.

A call to AIG to confirm the executive change was not immediately returned.

It was the second time this month the feds put taxpayer money on the hook to rescue a private financial company, saying its failure would further disrupt markets and threaten the already fragile economy.

AIG said it will repay the money in full with proceeds from the sales of some of its assets.

Under the deal, the Federal Reserve will provide a two-year $85 billion emergency loan to AIG, which teetered on the edge of failure because of stresses caused by the collapse of the subprime mortgage market and the credit crunch that ensued. In return, the government will get a 79.9 percent stake in AIG and the right to remove senior management.

The move was similar to government's seizure on Sept. 7 of mortgage giants Fannie Mae and Freddie Mac, where the Treasury Department said it was prepared to put up as much as $100 billion over time in each of the companies if needed to keep them from going broke.

The Fed said it determined that a disorderly failure of AIG could hurt the already delicate financial markets and the economy.

It also could "lead to substantially higher borrowing costs, reduced household wealth and materially weaker economic performance," the Fed said in a statement.

The decision to help AIG marked a reversal for the government from the weekend, when it refused to use taxpayer money to bail out Lehman Brothers Holdings Inc. Lehman, which filed for bankruptcy protection Monday, collapsed under the weight of mounting losses related to its real estate holdings.

The White House said it backed the Fed's decision Tuesday.

"These steps are taken in the interest of promoting stability in financial markets and limiting damage to the broader economy, " White House spokesman Tony Fratto said.

After meeting with Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke in a late-night briefing on Capitol Hill, Congressional leaders said they understood the need for the bailout.

"The administration is approaching an unprecedented step, but unfortunately we are living in unprecedented times. Hearing of these plans, you have to stop to catch your breath. But upon reflection, the alternatives are much worse," said Sen. Charles Schumer, D-N.Y.

In a statement late Tuesday, AIG's board of directors said the loan will protect all AIG policy holders, address concerns of rating agencies and buy the company time to sell off assets.

"We expect that the proceeds of these sales will be sufficient to repay the loan in full and enable AIG's businesses to continue as substantial participants in their respective markets," the statement said. "In return for providing this essential support, American taxpayers will receive a substantial majority ownership interest in AIG."

New York officials said the deal helps stave off a fiscal crisis for the state. AIG is based in New York.

"Policy holders will be protected, jobs will be saved," New York Gov. David Paterson said Tuesday night.

The Fed's move was part of a concerted push to help calm jittery markets and investors around the world.

On Tuesday, the Fed decided to keep its key interest rate steady at 2 percent, but acknowledged stresses in financial markets have grown and hinted it stood ready to lower rates if needed.

The central bank also pumped $70 billion into the nation's financial system to help ease credit stresses. In emergency sessions over the weekend, the Fed expanded its loan programs to Wall Street firms, part of an ongoing effort to get credit flowing more freely.

The stock market, which Monday posted its largest point loss session since the Sept. 11 attacks, recovered Tuesday after the Fed's decision on interest rates. The Dow Jones industrials rose 141 points after losing 500 points on Monday.

AIG's shares swung violently, though, as rumors of potential deals involving the government or private parties emerged and were dashed. By late Tuesday, its shares had closed down 20 percent -- and another 45 percent after hours.

The problems at AIG stemmed from its insurance of mortgage-backed securities and other risky debt against default. If AIG couldn't make good on its promise to pay back soured debt, investors feared the consequences would pose a greater threat to the U.S. financial system than this week's collapse of the investment bank Lehman Brothers.

The worries were heightened Monday after Moody's Investor Service, Standard and Poor's and Fitch Ratings lowered AIG's credit ratings, forcing AIG to seek more money for collateral against its insurance contracts. Without that money, AIG would have defaulted on its obligations and the buyers of its insurance -- such as banks and other financial companies -- would have found themselves without protection against losses on the debt they hold.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street plunged again in a crisis of confidence Wednesday as anxieties about the financial system still ran high after the government's bailout of insurer American International Group Inc. The Dow Jones industrial average dropped about 450 points, and investors seeking the safety of hard assets and government debt sent gold, oil and short-term Treasurys soaring.

The NYSE DOW closed LOWER -449.36	-4.06% on Wednesday September 17

Sym Last........ ........Change..........
Dow	10,609.66	-449.36	-4.06%
Nasdaq	2,098.85	-109.05	-4.94%
S&P 500	1,156.39	-57.20	-4.71%
30-yr Bond	4.0810%	-0.0140

NYSE Volume	9,349,226,000
Nasdaq Volume	3,131,055,500

NYSE Volume 9,536,237,000
Nasdaq Volume 3,224,972,250

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,912.40	-291.80	-5.61%
DAX	5,860.98	-104.19	-1.75%
CAC 40	4,000.11	-87.29	-2.14%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	11,749.79	+140.07	+1.21%
Hang Seng	17,637.19	-663.42	-3.63%
Straits Times	2,419.29	-42.14	-1.71%

http://biz.yahoo.com/ap/080917/wall_street.html
Stocks tumble after government bailout of AIG
Wednesday September 17, 4:24 pm ET
By Tim Paradis, AP Business Writer
Wall Street sinks again after Fed bails out AIG, Barclays buys Lehman businesses; Dow down 450

NEW YORK (AP) -- Wall Street plunged again in a crisis of confidence Wednesday as anxieties about the financial system still ran high after the government's bailout of insurer American International Group Inc. The Dow Jones industrial average dropped about 450 points, and investors seeking the safety of hard assets and government debt sent gold, oil and short-term Treasurys soaring.

The market was more unnerved than comforted by news that the Federal Reserve is giving a two-year, $85 billion loan to AIG in exchange for a nearly 80 percent stake in the company, which lost billions in the risky business of insuring against bond defaults. Wall Street had feared that the conglomerate, which has its tentacles in various financial services industries around the world, would follow the investment bank Lehman Brothers Holdings Inc. into bankruptcy. The ramifications of the world's largest insurer going under likely would have far surpassed the demise of Lehman.

But the moves left the market worried about problems that might worsen at other financial companies.

The two independent Wall Street investment banks left standing -- Goldman Sachs Group Inc. and Morgan Stanley -- remain under scrutiny, as does Washington Mutual Inc., the country's largest thrift bank. Morgan Stanley revealed its quarterly earnings early late Tuesday, posting a better-than-expected 7 percent slide in fiscal third-quarter profit. It insisted that it is surviving the credit crisis that has ravaged many of its peers.

Lehman filed for bankruptcy protection on Monday, and by late Tuesday had sold its North American investment banking and trading operations to Barclays, Britain's third-largest bank, for the bargain price of $250 million. Over the weekend, Merrill Lynch & Co., the world's largest brokerage, sold itself in a last-ditch effort to avoid failure to Bank of America Corp.

"People are scared to death," said Bill Stone, chief investment strategist for PNC Wealth Management. "Who would have imagined that AIG would have gotten into this position?"

He said the fear gripping the markets reflects investors' concerns that AIG wasn't able to find a lifeline in the private sector and that Wall Street is now fretting about what other institutions could falter. Over the past year, companies including Lehman and AIG have sought to reassure investors that they weren't in trouble, and now the market isn't sure who can and can't be trusted.

"No one's going to be believing anybody now because AIG said they were OK along with everybody else," Stone said.

According to preliminary calculations, the Dow fell 449.36, or 4.06 percent, to 10,609.66, finishing not far off its lows of the session. After a nosedive Monday, the index is down more than 7 percent on the week, and has fallen more than 25 percent since reaching a record close of 14,164.53 on Oct. 9 last year.

Broader stock indicators also fell sharply. The Standard & Poor's 500 index dropped 57.21, or 4.71 percent, to 1,156.39, while the Nasdaq composite index fell 109.05, or 4.94 percent, to 2,098.85.

About 200 stocks rose on the New York Stock Exchange, while nearly 3,000 fell.


----------



## deadset

Central banks pump a further $247 Billion to calm concerns :
http://www.bloomberg.com/apps/news?pid=20601087&sid=abyFUcrzapb4&refer=home


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street rallied in a stunning late-session turnaround Thursday, shooting higher and hurtling the Dow Jones industrials up 400 points following a report that the federal government might create an entity to absorb banks' bad debt. The report also cooled investors' fervor for the safest types of investments like government debt.

The report that Treasury Secretary Henry Paulson is considering the formation of a vehicle like the Resolution Trust Corp. that was set up during the savings and loan crisis of the late 1980s and early 1990s left previously solemn investors ebullient. Wall Street hoped a huge federal intervention could help financial institutions jettison bad mortgage debt and stop the drain on capital that has already taken down companies including Bear Stearns Cos. and Lehman Brothers Holdings Inc.


The NYSE DOW closed HIGHER +410.03 points	+3.86% on Thursday September 18

Sym Last........ ........Change..........
Dow	11,019.69	+410.03	+3.86%
Nasdaq	2,199.10	+100.25	+4.78%
S&P 500	1,206.51	+50.12	+4.33%
30-yr Bond	4.1130%	+0.0320

NYSE Volume	10,667,665,000
Nasdaq Volume	3,978,115,750

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,880.00	-32.40	-0.66%
DAX	5,863.42	+2.44	+0.04%
CAC 40	3,957.86	-42.25	-1.06%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	11,489.30	-260.49	-2.22%
Hang Seng	17,632.46	-4.73	-0.03%
Straits Times	2,428.85	+9.56	+0.40%

http://biz.yahoo.com/ap/080918/wall_street.html
*Stocks surge on report of entity for bad debt*
Thursday September 18, 5:03 pm ET
By Tim Paradis, AP Business Writer
*Stocks end sharply higher on report that government will create entity to hold banks' debt*
NEW YORK (AP) -- Wall Street rallied in a stunning late-session turnaround Thursday, shooting higher and hurtling the Dow Jones industrials up 400 points following a report that the federal government might create an entity to absorb banks' bad debt. The report also cooled investors' fervor for the safest types of investments like government debt.

The report that Treasury Secretary Henry Paulson is considering the formation of a vehicle like the Resolution Trust Corp. that was set up during the savings and loan crisis of the late 1980s and early 1990s left previously solemn investors ebullient. Wall Street hoped a huge federal intervention could help financial institutions jettison bad mortgage debt and stop the drain on capital that has already taken down companies including Bear Stearns Cos. and Lehman Brothers Holdings Inc.

Worries about financial landmines on companies' books have essentially crippled parts of the world's financial markets in recent days and led to the intense volatility in the markets this week.

"It's going to take a lot of the bad debt off the balance sheets of these companies," said Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York, commenting on the possibilities of an entity akin to the RTC. It could alleviate many of the pressures causing the credit crisis, he said, and reopen moribund credit markets. But Fullman noted, "the devil's in the details."

"Bear markets are very sensitive to news. And on a scale of 1 to 10, this one is a 13," he said.

The report from CNBC gave direction to a market that had bolted in and out of positive territory for much of the session as investors shuttled between the safety of Treasury bills and gold and the bargains posed by stocks that have been pounded lower.

According to preliminary calculations, the Dow soared 410.03, or 3.86 percent, to 11,019.69, surging 560 points from its low of the day, 10,459.44. It was the Dow's biggest percentage point gain since October 2002 but still leaves the index down about 400 points for the week after routs Monday and Wednesday.

Broader stock indicators also jumped. The Standard & Poor's 500 index rose 50.12, or 4.33 percent, to 1,206.51, and the Nasdaq composite index advanced 100.25, or 4.78 percent, to 2,199.10.

The report of a broader government bailout proved more reassuring to investors than moves before Wall Street's opening bell Thursday by the Federal Reserve and other major central banks to inject as much as $180 billion into global money markets. The moves were an attempt to keep the credit crisis from worsening; the Fed added another $55 billion in overnight loans Thursday.

But it was only the prospect of a more comprehensive vehicle to sweep up bad debt that emboldened investors. Congress established the RTC in 1989 to buy $394 billion worth of real estate, mortgages and other assets of hundreds of failed savings-and-loan institutions. The corporation operated for several years disposing of the associations' assets, and then went out of business.

A repository for soured mortgage debt could help alleviate the grinding of the gears in the world's credit markets have driven up the cost of borrowing for businesses; banks have become hesitant to make loans even to each other in recent days for fear of what institutions might be hobbled by soured debt. Investors are also contending with worries that more big-name financial companies could falter.

Fear in the markets had led to speculation about the future of such major players as thrift bank Washington Mutual Inc. and investment bank Morgan Stanley. Media reports have been saying that Wells Fargo & Co. and Citigroup Inc. are interested in a possible takeover of Washington Mutual; and a person familiar with the negotiations said Morgan Stanley and Wachovia Corp. are in talks about a possible combination. He spoke on condition of anonymity because the talks are ongoing.

"We're seeing a tremendous amount of nervousness. That nervousness is leading to volatility," said Anthony Conroy, head trader for BNY ConvergEx Group. He said the markets hadn't seen as much fractiousness since the 1920s.

Advancing issues outnumbered decliners by more than 3 to 1 on the New York Stock Exchange, where volume came to 2.45 billion shares compared with 2.14 billion traded Wednesday. Trading remained heavy as it has all week amid investors' fears about the well-being of the financial system. Beyond general uncertainty, traders were positioning themselves ahead of Friday's "quadruple witching," which marks the simultaneous expiration of four types of options contracts and can exacerbate volatility.

Investors shying from the risks of stocks turned to government-backed debt. On Wednesday, the 3-month Treasury bill -- considered one of the safest short-duration assets -- saw demand surge so high that its yield briefly dipped into negative territory for the first time since 1940. Investors are so focused on parking their money in safe assets that they're willing to take very little return on such investments.

The prices for short-duration Treasurys fell from Wednesday's levels. But the yield on the 3-month T-bill was still extremely low at 0.23 percent -- up from 0.2 percent late Wednesday, but well below its yield of 1.60 percent just a week ago.

Longer-term bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, jumped to 3.55 percent from 3.42 percent late Wednesday.

Investors also continued a move into other safe havens, though demand eased somewhat as stocks soared. Gold rose again Thursday, up $50.20 to $900.70 an ounce on the New York Mercantile Exchange after posting its largest ever one-day price jump Wednesday.

Oil shot up early in the day, moving back above $100 as investors sought it as another haven. But crude fell back with the market's realization that the financial turmoil will likely exacerbate the drop in demand that has taken oil down sharply from its July record of $147.27 a barrel.

Light, sweet crude on the Nymex rose 72 cents to settle at $97.88 a barrel.

"We are in uncharted territory," said Linda Duessel, the equity market strategist at Federated Investors. "The seriousness and the size of this fallout has been underestimated from the beginning. It's most disconcerting what's going on in the credit market."

Investors remained jittery throughout Thursday's session. The Chicago Board Options Exchange's volatility index, known as the VIX, set a new high for the year in trading Thursday before closing lower. Often referred to as the "fear index," the VIX at times rose to levels not seen since October 2002.

Mixed economic readings drew little attention as investors focused on the financials and the credit markets.

The Labor Department reported that initial claims for unemployment benefits rose by 10,000 last week to 455,000, due primarily to Louisiana's job losses from Hurricane Gustav. And the Philadelphia Fed said its regional manufacturing report improved to a 3.8 in September from a negative 12.7 in August. It marks the first positive reading since November.

Among financials, Morgan Stanley rose 80 cents, or 3.7 percent, to $22.55 as the investment bank sought a buyer or cash infusion to shore up its flagging share price. The stock has fallen sharply in the past week following Monday's bankruptcy filing at rival Lehman Brothers Holdings Inc. and a forced sale of Merrill Lynch & Co. to Bank of America Corp.

The Russell 2000 index of smaller companies rose 47.30, or 6.99 percent, to 723.68.

Overseas, Japan's Nikkei stock average dropped 2.22 percent to its lowest closing level in over three years. Hong Kong's Hang Seng index lost 0.03 percent. Britain's FTSE 100 fell 0.66 percent, Germany's DAX index rose 0.04 percent, and France's CAC-40 fell 1.06 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street had another extraordinary rally Friday as investors stormed back into the market, relieved that the government plans to restore calm to the financial system by rescuing banks from billions of dollars in bad debt. The Dow Jones industrials soared about 370 points, giving them a gain of about 780 over two days, and Treasurys fell as money flowed into equities.

The Dow rose 368.75, or 3.35 percent, to 11,388.44 after having been up as much as 463.36.

The Dow Jones industrial average ended the week down 33.55, or 0.29 percent, at 11,388.44. The Standard & Poor's 500 index finished up 3.38, or 0.27 percent, at 1,255.08. The Nasdaq composite index ended the week up 12.63, or 0.56 percent, at 2,273.90.


The NYSE DOW closed HIGHER +368.75 points	+3.35% on Friday September 19

Sym Last........ ........Change..........
Dow	11,388.44	+368.75	+3.35%
Nasdaq	2,273.90	+74.80	+3.40%
S&P 500	1,255.08	+48.57	+4.03%
30-yr Bond	4.3660%	+0.2530

NYSE Volume	9,497,775,000
Nasdaq Volume	4,044,535,500

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,311.30	+431.30	+8.84%
DAX	6,189.53	+326.11	+5.56%
CAC 40	4,324.87	+367.01	+9.27%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	11,920.86	+431.56	+3.76%
Hang Seng	19,327.73	+1,695.27	+9.61%
Straits Times	2,559.07	+139.86	+5.78%

http://biz.yahoo.com/ap/080919/wall_street.html
*Stocks soar as investors bet on gov't rescue plan*
Friday September 19, 6:58 pm ET
By Tim Paradis, AP Business Writer
*Wall Street extends big rally on bank rescue hopes, temporary ban on short sales of financials*

NEW YORK (AP) -- Wall Street had another extraordinary rally Friday as investors stormed back into the market, relieved that the government plans to restore calm to the financial system by rescuing banks from billions of dollars in bad debt. The Dow Jones industrials soared about 370 points, giving them a gain of about 780 over two days, and Treasurys fell as money flowed into equities.

The government's proposal, while still a work in progress, has placated investors who worried that a continuum of bad bets on mortgages would hobble more financial companies and cause further damage to the strained banking system and the overall economy.

"If a solid plan is put in place, it's definitely going to be a positive in easing the pain," said Stephen Carl, principal and head of equity trading at The Williams Capital Group. He added, though, that the set-up of any plan will determine its success.

A new government ban on short selling, or placing bets that a stock will fall, likely added to the market's gains as traders adjusted their positions. "A big chunk of this is scaring all the shorts to cover their bets," said Joe Battipaglia, market strategist at Stifel, Nicolaus & Co., referring to short sellers.

Treasury Secretary Henry Paulson, speaking about the rescue plan, said a bold approach is needed to remove troubled assets from the books of financial firms. He offered few details, but said he would working through the weekend with congressional leaders to assemble a remedy.

The plan could help neutralize a yearlong credit crisis that intensified this week. Wall Street suffered massive losses Monday and Wednesday, and credit markets essentially seized up following this week's bankruptcy of Lehman Brothers Holdings Inc. and the bailout of teetering insurer American International Group Inc.

Analysts said it was the first government response decisive enough to restore confidence in the markets; in the past, it has relied largely on steps like injecting cash into the banking system that, at least until now, had a limited impact.

"Everything they had done had been a Band-Aid approach, at the margins," said Jay Mueller, economist at Strong Capital Management. "Now we're dealing with the root problem."

The government took other steps Friday to restore stability to the financial system. The Federal Reserve said it will expand its emergency lending and let commercial banks finance purchases of asset-backed paper from money market funds. The Fed injected more money into the U.S. financial system, as it had done earlier in the week. The central bank also said it will buy short-term debt obligations issued by mortgage giants Fannie Mae, Freddie Mac and the Federal Home Loan Banks.

To further ease investors' anxieties and bolster tattered investor confidence, the Treasury Department has decided to use a Depression-era fund to provide guarantees for U.S. money market mutual funds. Money market mutual funds are typically considered safe, but some investors have been fleeing them, fearing that the funds' holdings included souring corporate debt.

And to help limit the freefall in financial stocks, the Securities and Exchange Commission on Friday enacted a ban until next month on the short-selling of nearly 800 financial stocks. Short-selling is the common practice of betting against a stock by borrowing shares and then selling them in the open market. A short-seller's hope is the stock will fall; if it does, the stock can be bought back at the lower price. Those cheaper shares can be returned to the lender, allowing the investor to pocket the profits. Traders can lose, however, if the stock rises.

Wall Street observers have disagreed over the extent to which pressure from all those bets that a stock will fall shaped investor sentiment and strangled some financial stocks, like those of Lehman Brothers last week. Some say the fundamental problems with overleveraged financial companies warranted the pessimism while others say the short selling was a death knell for some financial names.

"The federal government has been petitioned by Wall Street to take evasive action in the money markets, the stock and bond markets, to avoid a complete meltdown of the credit system," said Battipaglia. "Once the credit system melts down, the economy falls. We can hand-wring about if this is the proper thing for the government to do, or if Wall Street pulled the panic button too soon, but that's something for the historians to sort out."

It's difficult to quantify how much of the market's gains reflected short sellers who are forced to step in and cover their bets by buying now rising stocks that had predicted would fall. While that appeared to play some role in the advances Thursday and Friday, the Nasdaq composite index -- dominated by big technology stocks, not financials -- showed big gains along with the Dow and the Standard & Poor's 500 index.

The Dow rose 368.75, or 3.35 percent, to 11,388.44 after having been up as much as 463.36.

Friday was a quarterly "quadruple witching" day, which marks the simultaneous expiration of options contracts, an event that often adds to volatility and heavy volume. Still, much of the market's moves were due to the government's actions Friday.

Broader stock indicators also surged. The S&P 500 index rose 48.57, or 4.03 percent, to 1,255.08, and the Nasdaq composite index rose 74.80, or 3.40 percent, to 2,273.90.

Even with Friday's big gains, stocks didn't end the week with much change after the whipsaw sessions. The Dow slipped 0.29 percent, the S&P 500 rose 0.27 percent and the Nasdaq added 0.56 percent.

Treasury prices dropped as investors poured money back into stocks. The yield on the 3-month Treasury bill -- a safe investment to which investors have rushed this week -- rose to 0.95 percent from 0.07 percent late Thursday. Yields move opposite from price. The yield on the benchmark 10-year Treasury note shot up to 3.81 percent from 3.53 percent late Thursday.

The stock market's enormous swings during the week reveal how anxious investors have been about the tightness in the credit markets the possibility that other financial companies might succumb to the difficulties in the markets.

The only lasting move in a week of intense volatility came late in Thursday's session when reports emerged that the government was considering a plan that would shift soured debt off financials' books. A wobbly market rocketed higher, giving the Dow a 410-point gain for the session, buying that continued through Friday.

The dollar rose against most other major currencies in Friday trading, while gold prices jumped. Light, sweet crude rose $6.67 to settle at $104.55 a barrel on the New York Mercantile Exchange.

Advancing issues outnumbered decliners by about 7 to 1 on the New York Stock Exchange, where consolidated volume came to a heavy 9.1 billion shares compared with 10.3 billion shares traded Thursday.

The Russell 2000 index of smaller companies rose 30.06, or 4.15 percent, to 753.74.

Overseas stock markets soared. Japan's Nikkei stock average jumped 3.8 percent, and Hong Kong's Hang Seng index surged 9.61 percent. In Europe, Britain's FTSE 100 jumped 8.84 percent, Germany's DAX index advanced 5.56 percent, and France's CAC-40 rose 9.27 percent.

The Dow Jones industrial average ended the week down 33.55, or 0.29 percent, at 11,388.44. The Standard & Poor's 500 index finished up 3.38, or 0.27 percent, at 1,255.08. The Nasdaq composite index ended the week up 12.63, or 0.56 percent, at 2,273.90.

The Russell 2000 index finished the week up 33.48, or 0.27 percent, at 753.74.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended at 12,882.14, up 117.26 points, or 0.92 percent, for the week. A year ago, the index was at 15,371.29.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## noirua

Hi bigdog, I'm not sure all this is nearly as good as it looks. The risk has just gone elsewhere.
If as your post says, short covering is part of the reason for the jump and falling bonds means interest rates rising. Then next week may see some re-tracing.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Volatility again swept the financial markets Monday as investors grew nervous about an amorphous government plan to buy $700 billion in banks' mortgage debt. Stocks fell sharply, taking the Dow Jones industrials down more than 370 points, while investors sought safety in hard assets such as gold and oil, which at one point shot up more than $25 a barrel.

The dollar skidded lower, contributing to oil's surge, while the credit markets were still uneasy but not showing the frantic trading they saw last week. Oil's rise of $16.37 to a closing price $120.92 a barrel came as investors snapped up supplies to cover a contract that expired at the end of Monday's session. Crude's advance -- it was up $25.45 at one point -- showed the intensity of emotion in the market, and still-active contracts also rose sharply.


The NYSE DOW closed LOWER -372.75 points	-3.27% on Monday September 22

Sym Last........ ........Change..........
Dow	11,015.69	-372.75	-3.27%
Nasdaq	2,178.98	-94.92	-4.17%
S&P 500	1,207.09	-47.99	-3.82%
30-yr Bond	4.4070%	+0.0410

NYSE Volume	5,385,167,000
Nasdaq Volume	1,932,166,250


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,236.26	-75.04	-1.41%
DAX	6,107.75	-81.78	-1.32%
CAC 40	4,223.51	-101.36	-2.34%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,090.59	+169.73	+1.42%
Hang Seng	19,632.20	+304.47	+1.58%
Straits Times	2,544.13	-14.94	-0.58%

http://biz.yahoo.com/ap/080922/wall_street.html
*Markets remain skittish as investors seek safety*
Monday September 22, 4:33 pm ET
By Tim Paradis
*Markets see volatility as investors await bailout details; oil surges as traders seek safety*

NEW YORK (AP) -- Volatility again swept the financial markets Monday as investors grew nervous about an amorphous government plan to buy $700 billion in banks' mortgage debt. Stocks fell sharply, taking the Dow Jones industrials down more than 370 points, while investors sought safety in hard assets such as gold and oil, which at one point shot up more than $25 a barrel.

The dollar skidded lower, contributing to oil's surge, while the credit markets were still uneasy but not showing the frantic trading they saw last week. Oil's rise of $16.37 to a closing price $120.92 a barrel came as investors snapped up supplies to cover a contract that expired at the end of Monday's session. Crude's advance -- it was up $25.45 at one point -- showed the intensity of emotion in the market, and still-active contracts also rose sharply.

Gold, also in demand as a safe haven, rose $40.90 to $905.60.

While investors last week were relieved that federal authorities were constructing a plan to relieve the nation's banks of their toxic assets, many weren't waiting for the details to emerge before seeking safety. Wall Street is not sure how successful the plan might be in unfreezing credit markets, which many businesses depend on to fund day-to-day operations, and for propping up the still-weak housing market.

Bush administration officials and congressional leaders have been meeting on the rescue plan, the thrust of which congressional leaders have endorsed. Many market observers are hoping for details of the plan to emerge by midweek and delays could weigh further on investor sentiment.

"We need to have confidence built," said Rob Lutts, chief investment officer at Cabot Money Management Inc. in Salem, Mass. "This government opening of the checkbook -- it's a stopgap measure that will calm people and help us buy a little bit more time but ultimately what we need to see is more confidence."

While investors try to determine how helpful the government's lifeline might be they also were absorbing more news about the rapid changes in the banking sector. Morgan Stanley said it is working to sell up to a 20 percent stake to Japan's Mitsubishi UFJ Financial Group Inc., perhaps a sign that the government's stabilizing hand will make investors more willing to put money into banks.

The announcement comes after the Federal Reserve late Sunday granted Morgan Stanley and Goldman Sachs, the country's last two major investment banks, approval to change their status to bank holding companies. The change of status will allow the companies to set up commercial banks that will be able to take deposits, significantly bolstering the resources of both. However, they also will be subject to more regulation.

That shift came a week after negotiations failed to save Lehman Brothers Holdings Inc. That and the government's plan to bail out insurer American International Group Inc. helped lead to a seizing up of the credit markets that spurred the government to formulate its plan to rescue companies from their bad debt, which was in turn destroying confidence in the credit markets.

The yield on the Treasury's 3-month Treasury bill was at 0.90 percent Monday, down from 0.94 percent late Friday, indicating that investors were still willing to take low returns on a safe asset. However, the yield was well above yields around zero at the height of last week's frenetic buying; yields move in the opposite direction from price. Short-term Treasurys are seen as the safest place to put cash.

The Treasury's 2-year note's yield was at 2.12 percent, down from 2.13 percent Friday. The yield on the 10-year benchmark Treasury was unchanged at 3.82 percent from late Friday.

According to preliminary calculations, the Dow fell 372.75, or 3.27 percent, to 11,015.69. The retreat comes after the stock market's best two-day advance in years so some retrenchment, especially amid the anxiety on the Street, wasn't unexpected.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 47.99, or 3.82 percent, to 1,207.09, and the Nasdaq composite index fell 94.92, or 4.17 percent, to 2,178.98.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Financial markets extended their declines Tuesday as investors worried that lawmakers were beginning to doubt the necessity of a broad government bailout for financial institutions as a way to revive ailing credit markets.

Top economic officials updating Congress about efforts to work out a $700 billion financial rescue plan faced a greater degree of second-guessing from lawmakers than some investors had expected. The Dow Jones industrials, which had been higher for the first half of the session ended at the lows of the day, tacking losses onto a steep drop Monday.

The NYSE DOW closed LOWER -161.52 points	-1.47% on Tuesday September 23

Sym Last........ ........Change..........
Dow	10,854.17	-161.52	-1.47%
Nasdaq	2,153.34	-25.64	-1.18%
S&P 500	1,188.22	-18.87	-1.56%
30-yr Bond	4.4340%	+0.0270

NYSE Volume	5,227,321,000
Nasdaq Volume	1,974,193,500


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,136.12	-100.14	-1.91%
DAX	6,068.53	-39.22	-0.64%
CAC 40	4,139.82	-83.69	-1.98%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,090.59	+169.73	+1.42%
Hang Seng	18,872.85	-759.35	-3.87%
Straits Times	2,476.51	-67.62	-2.66%

http://biz.yahoo.com/ap/080923/wall_street.html
Stocks extend fall as Street weighs bailout plan
Tuesday September 23, 4:33 pm ET
By Tim Paradis, AP Business Writer
Stocks extend declines as investors weigh lawmaker sentiment on proposed $700B bailout plan

NEW YORK (AP) -- Financial markets extended their declines Tuesday as investors worried that lawmakers were beginning to doubt the necessity of a broad government bailout for financial institutions as a way to revive ailing credit markets.

Top economic officials updating Congress about efforts to work out a $700 billion financial rescue plan faced a greater degree of second-guessing from lawmakers than some investors had expected. The Dow Jones industrials, which had been higher for the first half of the session ended at the lows of the day, tacking losses onto a steep drop Monday.

Still, trading appeared more orderly than Monday, when investors rushed into hard assets like oil and gold. Meanwhile, demand remained high for 3-month Treasury bills, considered the safest short-term financial asset, while the dollar regained some ground after being hard hit Monday.

After days of intense gyrations in financial markets, investors are anxious over whether the plan to absorb bad mortgages and other risky assets will help steer the economy onto more solid footing.

Treasury Secretary Henry Paulson, Federal Reserve Chairman Ben Bernanke and Securities and Exchange Commission Chairman Christopher Cox testified before lawmakers, who are working with the Bush administration to complete the details of the bailout.

But traders grew nervous as the officials faced questions about whether the government's planned response was appropriate. Sen. Chuck Schumer, D-N.Y., for example, asked whether $150 billion might be adequate to get the program started if more money were promised.

The market remains uncertain about how long it will take for the bailout plans to take effect, and when they do, how effective they will be.

"There's skepticism about whether the $700 billion number is the right number," said Jim Herrick, manager and director of equity trading at Baird & Co.

Bernanke told the Senate Banking Committee that Congress risks triggering a recession if it doesn't act on the plan. He said inaction could leave a range of businesses unable to borrow the money while consumers could find it impossible to finance big purchases like cars and homes.

Financial markets showed uneasiness as investors listened to the testimony, but not the fear and volatility that dominated Monday's trading.

The market for short-term Treasurys remained strained. The yield on the 3-month T-bill rose to fell to 0.79 percent from 0.88 percent on Monday; last week, it was around zero after investors flooded money into T-bills as the credit markets seized up. That spurred the Bush administration to formulate its debt buyout plan.

The yield on the benchmark 10-year Treasury note, which trades opposite its price, fell to 3.82 percent from 3.85 percent late Monday.

The dollar, whose decline Monday drove some of the frenetic trading in other markets, was mixed against other major currencies, while gold prices declined after starting the week with a big advance.

According to preliminary calculations, the Dow fell 161.52, or 1.47 percent, to 10,854.17 after having risen more than 125 points in the early going and then falling by more than 180. With Monday's 370-point decline, the blue chips are down 534 points, or 4.69 percent, for the week.

Broader stock indicators also fell Tuesday. The Standard & Poor's 500 index fell 18.87, or 1.56 percent, to 1,188.22, and the Nasdaq composite index fell 25.67, or 1.18 percent, to 2,153.34.


----------



## Aussiejeff

bigdog said:


> NYSE Dow Jones finished today at:
> Source: http://finance.yahoo.com
> 
> Financial markets extended their declines Tuesday as investors worried that lawmakers were beginning to doubt the necessity of a broad government bailout for financial institutions as a way to revive ailing credit markets.
> 
> Top economic officials updating Congress about efforts to work out a $700 billion financial rescue plan faced a greater degree of second-guessing from lawmakers than some investors had expected. The Dow Jones industrials, which had been higher for the first half of the session ended at the lows of the day, tacking losses onto a steep drop Monday.
> 
> The NYSE DOW closed LOWER -161.52 points	-1.47% on Tuesday September 23
> 
> Sym Last........ ........Change..........
> Dow	10,854.17	-161.52	-1.47%
> Nasdaq	2,153.34	-25.64	-1.18%
> S&P 500	1,188.22	-18.87	-1.56%





Notably, almost all of that 161 point loss was hammered out in the last 45mins of trading. All Ords might not respond well to that closing sentiment.


aj


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Tension grew in the financial markets Wednesday, sending stocks mostly lower as investors worried about the effectiveness of a still-emerging government plan to rescue banks from crippling debt. The credit markets also showed added strain, with rising demand for short-term Treasury bills, considered the safest of investments.

Wall Street was calmer than during the first two days of this week, with stocks meandering in and out of positive territory while investors tried to determine what shape the $700 billion plan might take.

According to preliminary calculations, the Dow Jones industrial average fell 29.00, or 0.27 percent, to 10,825.17 after moving in and out of positive territory. The decline leaves the Dow down more than 560 points, or about 5 percent, for the week. 

The Dow only recovered in the last 15 minutes; check out the chart below!



The NYSE DOW closed LOWER -29.00 points	-0.27% on Wednesday September 24

Sym Last........ ........Change..........
Dow	10,825.17	-29.00	-0.27%
Nasdaq	2,155.68	+2.35	+0.11%
S&P 500	1,185.87	-2.35	-0.20%
30-yr Bond	4.3780%	-0.0560

NYSE Volume	4,812,278,500
Nasdaq Volume	1,818,174,500


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,095.57	-40.55	-0.79%
DAX	6,052.87	-15.66	-0.26%
CAC 40	4,114.54	-25.28	-0.61%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,115.03	+24.44	+0.20%
Hang Seng	18,961.99	+89.14	+0.47%
Straits Times	2,477.60	+1.09	+0.04%

http://biz.yahoo.com/ap/080924/wall_street.html
*Stocks end little changed amid debate over bailout*
Wednesday September 24, 4:35 pm ET
By Tim Paradis, AP Business Writer
*Stocks end little changed as markets await details of lifeline for banks; credit remains tight*

NEW YORK (AP) -- Tension grew in the financial markets Wednesday, sending stocks mostly lower as investors worried about the effectiveness of a still-emerging government plan to rescue banks from crippling debt. The credit markets also showed added strain, with rising demand for short-term Treasury bills, considered the safest of investments.

Wall Street was calmer than during the first two days of this week, with stocks meandering in and out of positive territory while investors tried to determine what shape the $700 billion plan might take.

Initial enthusiasm over investor Warren Buffett's decision to invest $5 billion in Goldman Sachs Group Inc. gave way to broader concerns that the dealmaking in Washington could produce less potent medicine than proponents say is necessary to aid moribund credit markets. Fear about bad debt on the books of financial companies has led to tightness in credit markets. That has made it difficult for businesses and consumers alike to borrow money.

Treasury Secretary Henry Paulson told the House Financial Services Committee that he agreed to limit the pay of Wall Street executives whose companies might benefit from the proposed $700 billion measure for financial services firms.

Paulson appeared with Federal Reserve Chairman Ben Bernanke before Congress for a second day to brief lawmakers on the plan. Their appearance on Capitol Hill Tuesday unnerved investors, who questioned whether lawmakers were beginning to doubt the necessity and form of the government bailout.

The waiting was clearly wearing on the credit markets, raising concern again about liquidity.

Demand for short-term government Treasuries increased as investors again sought safe places to keep cash. The yield on the 3-month Treasury bill, considered the safest short-term financial asset, was at 0.49 percent late Wednesday, down from 0.79 percent late Tuesday. Last week, demand spiked so high that the yield briefly dipped into negative territory; investors were so focused on putting their money in safe assets that they have been willing to accept very little or even negative returns.

In other Treasury trading, the yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.81 percent from 3.80 percent late Tuesday.

"I think you're seeing a lot of tough talk from politicians who don't want to seem like they're rolling over for Wall Street and, normally, people would see that for what it is. But right now investors are exceptionally nervous," said Stephen Massocca, co-chief executive of Pacific Growth Equities in San Francisco.

According to preliminary calculations, the Dow Jones industrial average fell 29.00, or 0.27 percent, to 10,825.17 after moving in and out of positive territory. The decline leaves the Dow down more than 560 points, or about 5 percent, for the week.

Broader stock indicators were mixed. The Standard & Poor's 500 index slipped 2.35, or 0.20 percent, to 1,185.87, and the Nasdaq composite index rose 2.35, or 0.11 percent, to 2,155.68.

The dollar, whose struggles earlier this week contributed to extreme volatility in other markets, was mixed. Meanwhile, gold prices rose.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Financial markets grew more upbeat Thursday as political leaders said they struck an agreement in principle on a massive spending plan to revive the crippled financial system. The Dow Jones industrial average jumped about 200 points on optimism about the bailout, and demand for safe-haven assets remained high but eased slightly as some investors placed bets that a deal would help unclog credit markets.

Stock market investors got a lift when key lawmakers said they would present the $700 billion plan to the Bush administration and hoped for a vote by both houses of Congress within days. Still, some resistance remained from House Republicans as the closing bell on Wall Street rang ahead of a meeting of congressional leaders at the White House.

And after the close of trading, it was clear that plan could still face some obstacles. Stock futures weakened, signaling a lower open Friday, after Sen. Richard Shelby, the top Republican on the Banking Committee, left the White House meeting and said the announced deal "is, obviously, no agreement."

The NYSE DOW closed HIGHER +196.89	+1.82% on Thursday September 25

Sym Last........ ........Change..........
Dow	11,022.06	+196.89	+1.82%
Nasdaq	2,186.57	+30.89	+1.43%
S&P 500	1,209.18	+23.31	+1.97%
30-yr Bond	4.4140%	+0.0360

NYSE Volume	5,963,252,500
Nasdaq Volume	1,894,855,120


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,197.02	+101.45	+1.99%
DAX	6,173.03	+120.16	+1.99%
CAC 40	4,226.81	+112.27	+2.73%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	12,006.53	-108.50	-0.90%
Hang Seng	18,934.43	-27.56	-0.15%
Straits Times	2,444.24	-33.36	-1.35%

http://biz.yahoo.com/ap/080925/wall_street.html
*Stocks rise on bailout hopes; credit remains tight*
Thursday September 25, 6:05 pm ET
By Tim Paradis, AP Business Writer
*Stocks jump as investors pin hopes on financial rescue; credit markets ease but remain tight*

NEW YORK (AP) -- Financial markets grew more upbeat Thursday as political leaders said they struck an agreement in principle on a massive spending plan to revive the crippled financial system. The Dow Jones industrial average jumped about 200 points on optimism about the bailout, and demand for safe-haven assets remained high but eased slightly as some investors placed bets that a deal would help unclog credit markets.

Stock market investors got a lift when key lawmakers said they would present the $700 billion plan to the Bush administration and hoped for a vote by both houses of Congress within days. Still, some resistance remained from House Republicans as the closing bell on Wall Street rang ahead of a meeting of congressional leaders at the White House.

And after the close of trading, it was clear that plan could still face some obstacles. Stock futures weakened, signaling a lower open Friday, after Sen. Richard Shelby, the top Republican on the Banking Committee, left the White House meeting and said the announced deal "is, obviously, no agreement."

Trading that has been difficult for more than a week is likely to remain so in the coming days.

"The market's going to experience volatility as the terms become known," said Doug Roberts, chief investment strategist at Channel Capital Research.

Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke urged lawmakers Tuesday and Wednesday to quickly sign off on the plan, which they said would help prop up the economy by removing billions of dollars in risky mortgage-related assets from financial firms' balance sheets. Fear of heavy losses on these assets has made banks hesitant to extend credit, which in turn threatens the overall economy by making it harder and more expensive for businesses and consumers to borrow money.

President Bush highlighted what he sees as the urgency in a national address Wednesday night. Major elements are still being worked out, including how to phase in the mammoth cost of the package and whether the government will get an ownership stake in troubled companies.

Alan Lancz, director at investment research group LanczGlobal, said stock market investors were encouraged that the rescue looked more likely than it had earlier in the week. He said the move could help unclog credit markets by allowing banks and investors to place values on assets tied to mortgages.

"How do you establish a floor? Well, this is the bazooka. This is how you establish a floor," he said of the plan's goal of buying up the toxic debt.

Still, some investors had their doubts. Demand eased but remained high for the 3-month Treasury bill, considered the safest short-term investment. Its yield rose to 0.72 percent from 0.49 percent late Wednesday. That means investors are still willing to earn the slimmest of returns in exchange for a safe place to put their money. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.84 percent from 3.81 late Wednesday.

The Dow rose 196.89, or 1.82 percent, to 11,022.06. The gain helped erase some of the losses from heavy selling earlier in the week, though the blue chips still remain down by more than 360 points, or 3.2 percent.

Broader stock indicators also rose Thursday. The Standard & Poor's 500 index advanced 23.31, or 1.97 percent, to 1,209.18 and the Nasdaq composite index rose 30.89, or 1.43 percent, to 2,186.57.

Advancing issues outnumbered decliners by nearly 3 to 1 on the New York Stock Exchange, where consolidated volume came to 5.73 billion shares, compared with 4.66 billion traded Wednesday.

Roberts noted that the market's back-and-forth moves of late might be unnerving for investors but ultimately can leave stocks with little to show for all the volatility.

"Most of this is just oscillating around a straight line," he said, noting that last week's huge daily moves, which also included triple-digit moves in the Dow, left stocks largely unchanged for the week.

The dollar was mixed against other major currencies Thursday, while gold prices fell.

Light, sweet crude for November delivery rose $2.29 to settle at $108.02 a barrel on the New York Mercantile Exchange.

Meanwhile, disappointing readings on employment, housing and demand for big-ticket manufactured goods, as well as a sobering forecast from General Electric Co., underscored the difficulties facing the economy.

The Labor Department said the number of people seeking unemployment benefits increased by 32,000 to a seasonally adjusted 493,000 last week -- the highest level in seven years and well above analysts' expectations of 445,000. Hurricanes Ike and Gustav added about 50,000 new claims in Louisiana and Texas, the department said.

The Commerce Department said sales of new homes fell sharply in August to the slowest pace in 17 years. The average sales price also fell by the largest amount on record. New homes sales dropped by 11.5 percent in August to a seasonally adjusted annual sales rate of 460,000 units, the slowest sales pace since January 1991.

The department also said orders for expensive manufactured goods sank in August by the largest amount in seven months as demand for both airplanes and cars sank. Durable goods orders fell by 4.5 percent last month, far worse than the 1.6 percent decline that economists expected and the biggest drop since a 4.7 percent fall in January.

GE lowered its forecast for third-quarter and full-year earnings, citing unprecedented weakness and volatility in the financial services markets. The stock, which had declined in the early going, finished up $1.09, or 4.4 percent, to $25.68 alongside the gains in the broader market.

The Russell 2000 index of smaller companies rose 7.97, or 1.14 percent, to 705.74.

Overseas, Japan's Nikkei stock average fell 0.90 percent. Britain's FTSE 100 rose 1.99 percent, Germany's DAX index added 1.99 percent, and France's CAC-40 jumped 2.73 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

For the week, which again saw triple-digit moves in the Dow, the blue chip average lost 2.15 percent, the Nasdaq declined 3.98 percent and the Nasdaq fell 3.33 percent.

Financial markets remained on edge Friday after the Bush administration's proposal for a $700 billion banking bailout ran into opposition from Republican lawmakers. Stocks ended mixed, with big financial companies lifting the Dow Jones industrials more than 120 points, but worries about smaller banks and parts of the technology sector taking much of the market lower.

Demand for safe-haven buying in government debt remained high as investors uneasily watched events in Washington, where the Bush administration tried to overcome Republican objections to its rescue package.

The NYSE DOW closed HIGHER +121.07 points	+1.10% on Friday September 26

Sym Last........ ........Change..........
Dow	11,143.13	+121.07	+1.10%
Nasdaq	2,183.34	-3.23	-0.15%
S&P 500	1,213.01	+3.83	+0.32%
30-yr Bond	4.3570%	-0.0570

NYSE Volume	5,420,079,500
Nasdaq Volume	1,999,503,120


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	5,088.47	-108.55	-2.09%
DAX	6,063.50	-109.53	-1.77%
CAC 40	4,163.38	-63.43	-1.50%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	11,893.16	-113.37	-0.94%
Hang Seng	18,682.09	-252.34	-1.33%
Straits Times	2,411.46	-32.78	-1.34%

http://biz.yahoo.com/ap/080926/wall_street.html
*Stocks mixed on bailout clash; tech slides*
Friday September 26, 4:39 pm ET
By Tim Paradis, AP Business Writer
*Stocks stumble through lopsided session after bailout talks unravel; credit remains tight*

NEW YORK (AP) -- Financial markets remained on edge Friday after the Bush administration's proposal for a $700 billion banking bailout ran into opposition from Republican lawmakers. Stocks ended mixed, with big financial companies lifting the Dow Jones industrials more than 120 points, but worries about smaller banks and parts of the technology sector taking much of the market lower.

Demand for safe-haven buying in government debt remained high as investors uneasily watched events in Washington, where the Bush administration tried to overcome Republican objections to its rescue package.

GOP lawmakers are concerned about the cost of the proposal, and they balked at the plan after congressional leaders said Thursday they had reached an agreement in principle. Shortly after Friday's opening bell on Wall Street, President Bush said at the White House lawmakers can express doubts but ultimately should "rise to the occasion" and approve a plan to stave off what he sees as an economic calamity.

The rescue is designed to remove billions of dollars of bad mortgages and other now-toxic assets from the books of financial firms in a bid to free up lending. Tight lending conditions make it harder and more expensive for businesses and consumers to borrow money, a headwind for the economy. In a last-minute shake up, some Republican lawmakers wanted an alternative plan under which the government would provide insurance to companies that agree to hold frozen assets, rather than have the U.S. purchase the assets.

Volume was relatively light Friday as many investors chose to just wait. That helped skew some of the movements in the major indexes.

"I think the markets are on pause trying to figure out where this is going to go. Congress is still there," said Mark Coffelt, portfolio manager at Empiric Funds in Austin, Texas. "Right now everyone is a little bit shellshocked."

With no deal in place as trading ended Friday, investors were certainly going to be uneasy throughout the weekend. And there was no way to predict whether Monday morning would bring calmer markets after weeks of intense volatility, or whether the turbulence would accelerate. Even if a deal is reached over the weekend, its terms will determine how the markets start the week.

Credit markets remained strained Friday, though they showed improvement. The yield on the 3-month Treasury bill, considered the safest short-term investment, rose to 0.84 percent from 0.72 percent late Thursday. The lower the yield on a T-bill, the more desperation there is in the market; investors are at times willing to take the slimmest returns to preserve their principal. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.85 percent from 3.84 percent late Thursday.

According to preliminary calculations, the Dow rose 121.07, or 1.10 percent, to 11,143.13. Gains by JPMorgan Chase & Co. and Bank of America Corp. gave support to the 30-stock index. Most of their advance came late in the session as investors placed bets that a deal would emerge from Washington over the weekend.

Broader indicators were mixed. The Standard & Poor's 500 index rose 4.09, or 0.34 percent, to 1,213.27, and the technology-heavy Nasdaq composite index fell 3.23, or 0.15 percent, to 2,183.34.

Declining issues outnumbered advancers by more than 2 to 1 on the New York Stock Exchange, where volume came to 1.17 billion shares.

For the week, which again saw triple-digit moves in the Dow, the blue chip average lost 2.15 percent, the Nasdaq declined 3.98 percent and the Nasdaq fell 3.33 percent.

Stocks traded unevenly Friday, with technology shares falling sharply after Research In Motion Ltd. warned late Thursday that its gross margins would contract in the current quarter because of the costs for producing three new BlackBerry models. The stock fell $25.45, or 26 percent, to $72.08.

The market was also uneasy after Washington Mutual Inc. became the largest U.S. bank to fail. The Federal Deposit Insurance Corp. seized WaMu on Thursday and then sold the thrift's banking assets to JPMorgan for $1.9 billion. It was the latest financial firm to collapse under the weight of enormous bad bets on the mortgage market.

Although WaMu's failure was expected, it nonetheless underscored for investors how widespread the problems are in the financial sector.

Coffelt noted, however, that the market appeared to take some comfort from the orderly fall of WaMu. Several analysts praised the move as a wise takeover for JPMorgan. JPMorgan rose $4.78, or 11 percent, to $48.24 and was the biggest decliner among the Dow industrials. WaMu fell $1.53, or 90.3 percent, to 16 cents.

Meanwhile, Bank of America, which last week snapped up Merrill Lynch, rose $2.33, or 6.8 percent, to $36.70.

Bank of America and JP Morgan are now the first and second largest banks U.S. banks, respectively, perhaps offering investors some reassurance about the safety provided by their large asset bases in a market short on liquidity.

But worries about some other banks, including regionals, persisted after the failure of WaMu. Wachovia Corp. fell $3.70, or 27 percent, to $10, while National City Corp. fell $1.28, or 26 percent, to $3.71.

Light, sweet crude fell $1.13 to settle at $106.89 on the New York Mercantile Exchange.

Uncertainty over the bailout package left the dollar mixed against other major currencies. Gold prices rose.

Coffelt said the market would take a hit if a bailout doesn't materialize, though he said the broader fear is that tightness in credit markets would make any decline more severe.

"If it doesn't go through I think the markets probably get slapped -- probably 1,000 points -- but then we'll work our way out of it," he said, referring to a drop the Dow industrials could see.

Still, concerns about the broader economy persist. The Commerce Department said the spring's economic rebound was less robust than previously estimated. Gross domestic product, or GDP, increased at a 2.8 percent annual rate in the April-June quarter. That fell short of the 3.3 percent growth estimated a month ago, but was still better than two previous dismal quarters.

The Russell 2000 index of smaller companies fell 0.95, or 0.13 percent, to 704.79.

Overseas, Japan's Nikkei stock average fell 0.94 percent. Britain's FTSE 100 fell 2.09 percent, Germany's DAX index fell 1.77 percent, and France's CAC-40 fell 1.50 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

The local market hopefully will rise today with this news

http://biz.yahoo.com/ap/080928/financial_meltdown.html

*$700B rescue plan finalized; House to vote Monday*
Sunday September 28, 6:20 pm ET 
By Julie Hirschfeld Davis, Associated Press Writer  
*Congressional leaders, White House OK $700B bailout plan; House expects to vote on it Monday *

WASHINGTON (AP) -- Congressional leaders and the White House agreed Sunday to a $700 billion rescue of the ailing financial industry after lawmakers insisted on sharing spending controls with the Bush administration. The biggest U.S. bailout in history won the tentative support of both presidential candidates and goes to the House for a vote Monday.

The plan, bollixed up for days by election-year politics, would give the administration broad power to use taxpayers' money to purchase billions upon billions of home mortgage-related assets held by cash-starved financial firms.

Flexing its political muscle, Congress insisted on a stronger hand in controlling the money than the White House had wanted. Lawmakers had to navigate between angry voters with little regard for Wall Street and administration officials who warned that inaction would cause the economy to seize up and spiral into recession.

A deal in hand, Capitol Hill leaders scrambled to sell it to colleagues in both parties and acknowledged they were not certain it would pass. "Now we have to get the votes," said Sen. Harry Reid, D-Nev., the majority leader.

The final legislation was released Sunday evening. House Republicans and Democrats met privately to review it and decide how they would vote. "This isn't about a bailout of Wall Street, it's a buy-in, so that we can turn our economy around," said House Speaker Nancy Pelosi, D-Calif.

The largest government intervention in financial markets since the Great Depression casts Washington's long shadow over Wall Street. The government would take over huge amounts of devalued assets from beleaguered financial companies in hopes of unlocking frozen credit.

"I don't know of anyone here who wants the center of the economic universe to be Washington," said a top negotiator, Sen. Chris Dodd, chairman of the Senate Banking, Housing and Urban Affairs Committee. But, he added, "The center of gravity is here temporarily. ... God forbid it's here any longer than it takes to get credit moving again."

The plan would let Congress block half the money and force the president to jump through some hoops before using it all. The government could get at $250 billion immediately, $100 billion more if the president certified it was necessary, and the last $350 billion with a separate certification -- and subject to a congressional resolution of disapproval.

Still, the resolution could be vetoed by the president, meaning it would take extra-large congressional majorities to stop it.

Lawmakers who struck a post-midnight deal on the plan with Treasury Secretary Henry Paulson predicted final congressional action might not come until Wednesday.

The proposal is designed to end a vicious downward spiral that has battered all levels of the economy. Hundreds of billions of dollars in investments based on mortgages have soured and cramped banks' willingness to lend.

"This is the bottom line: If we do not do this, the trauma, the chaos and the disruption to everyday Americans' lives will be overwhelming, and that's a price we can't afford to risk paying," Sen. Judd Gregg, the chief Senate Republican in the talks, told The Associated Press. "I do think we'll be able to pass it, and it will be a bipartisan vote."

A breakthrough came when Democrats agreed to incorporate a GOP demand -- letting the government insure some bad home loans rather than buy them. That would limit the amount of federal money used in the rescue.

Another important bargain, vital to attracting support from centrist Democrats, would require that the government, after five years, submit a plan to Congress on how to recoup any losses from the companies that got help.

"This is something that all of us will swallow hard and go forward with," said Republican presidential nominee John McCain. "The option of doing nothing is simply not an acceptable option."

His Democratic rival Barack Obama sought credit for taxpayer safeguards added to the initial proposal from the Bush administration. "I was pushing very hard and involved in shaping those provisions," he said.

Later, at a rally in Detroit, Obama said, "it looks like we will pass that plan very soon."

House Republicans said they were reviewing the plan.

As late as Sunday afternoon, Republicans regarded the deal as "a proposal that is promising in principle, but that is still not final," said Antonia Ferrier, a spokeswoman for Missouri Rep. Roy Blunt, the top House GOP negotiator.

Executives whose companies benefit from the rescue could not get "golden parachutes" and would see their pay packages limited. Firms that got the most help through the program -- $300 million or more -- would face steep taxes on any compensation for their top people over $500,000.

The government would receive stock warrants in return for the bailout relief, giving taxpayers a chance to share in financial companies' future profits.

To help struggling homeowners, the plan would require the government to try renegotiating the bad mortgages it acquires with the aim of lowering borrowers' monthly payments so they can keep their homes.

But Democrats surrendered other cherished goals: letting judges rewrite bankrupt homeowners' mortgages and steering any profits gained toward an affordable housing fund.

It was Obama who first signaled Democrats were willing to give up some of their favorite proposals. He told reporters Wednesday that the bankruptcy measure was a priority, but that it "probably something that we shouldn't try to do in this piece of legislation."

"It's not a bill that any one of us would have written. It's a much better bill than we got. It's not as good as it should be," said Democratic Rep. Barney Frank of Massachusetts, the House Financial Services Committee chairman. He predicted it would pass, though not by a large majority.

Frank negotiated much of the compromise in a marathon series of up-and-down meetings and phone calls with Paulson, Dodd, D-Conn., and key Republicans including Gregg and Blunt.

Pelosi shepherded the discussions at key points, and cut a central deal Saturday night -- on companies paying back taxpayers for any losses -- that gave momentum to the final accord.

An extraordinary week of talks unfolded after Paulson and Ben Bernanke, the Federal Reserve chairman, went to Congress 10 days ago with ominous warnings about a full-blown economic meltdown if lawmakers did not act quickly to infuse huge amounts of government money into a financial sector buckling under the weight of toxic debt.

The negotiations were shaped by the political pressures of an intense campaign season in which voters' economic concerns figure prominently. They brought McCain and Obama to Washington for a White House meeting that yielded more discord and behind-the-scenes theatrics than progress, but increased the pressure on both sides to strike a bargain.

Lawmakers in both parties who are facing re-election are loath to embrace a costly plan proposed by a deeply unpopular president that would benefit perhaps the most publicly detested of all: companies that got rich off bad bets that have caused economic pain for ordinary people.

But many of them say the plan is vital to ensure their constituents don't pay for Wall Street's mistakes, in the form of unaffordable credit and major hits to investments they count on, like their pensions.

Some proponents even said taxpayers could come out as financial winners.

Gregg, R-N.H., said: "I don't think we're going to lose money, myself. We may -- it's possible -- but I doubt it in the long run."

House Financial Services Committee: http://financialservices.house.gov/

House Speaker's Office: http://speaker.gov


----------



## James Austin

bigdog said:


> The local market hopefully will rise today with this news
> 
> http://biz.yahoo.com/ap/080928/financial_meltdown.html





wall st futures flat at present bigdog, perhaps SPI flat today also, because . . . .

_A deal in hand, Capitol Hill leaders scrambled to sell it to colleagues in both parties and acknowledged they were not certain it would pass. "Now we have to get the votes," said Sen. Harry Reid, D-Nev., the majority leader._

and

_Lawmakers who struck a post-midnight deal on the plan with Treasury Secretary Henry Paulson predicted final congressional action might not come until Wednesday._


----------



## acouch

the bill

http://i.cdn.turner.com/money/2008/images/09/28/ayo08c04_xml.pdf

ac


----------



## James Austin

acouch said:


> the bill
> 
> http://i.cdn.turner.com/money/2008/images/09/28/ayo08c04_xml.pdf
> 
> ac




geepers, who was the poor bugger that typed that up on the weekend


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street's worst fears came to pass Monday, when the government's financial bailout plan failed in Congress and stocks plunged precipitously -- hurtling the Dow Jones industrials down nearly 780 points in their largest one-day point drop ever. Credit markets, whose turmoil helped feed the stock market's angst, froze up further amid the growing belief that the country is headed into a spreading credit and economic crisis.

Stunned traders on the floor of the New York Stock Exchange, their faces tense and mouths agape, watched on TV screens as the House voted down the plan in mid-afternoon, and as they saw stock prices tumbling on their monitors. Activity on the floor became frenetic as the "sell" orders blew in.

The Dow told the story of the market's despair. The blue chip index, dropped by hundreds of points in a matter of moments, and by the end of the day had passed by far its previous record for a one-day drop, 684.81, set in the first trading day after the Sept. 11, 2001, terror attacks.

The selling was so intense that just 162 stocks rose on the NYSE -- and 3,073 dropped.

*The NYSE DOW closed significantly LOWER -777.68 points	-6.98% on Monday September 29*

Sym Last........ ........Change..........
Dow	10,365.45	-777.68	-6.98%
Nasdaq	1,983.73	-199.61	-9.14%
S&P 500	1,106.42	-106.59	-8.79%
30-yr Bond	4.1610%	-0.1960

NYSE Volume	6,896,981,000
Nasdaq Volume	2,808,100,250


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,818.77	-269.70	-5.30%
DAX	5,807.08	-256.42	-4.23%
CAC 40	3,953.48	-209.90	-5.04%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	11,743.61	-149.55	-1.26%
Hang Seng	17,880.68	-801.41	-4.29%
Straits Times	2,361.34	-50.12	-2.08%

http://biz.yahoo.com/ap/080929/wall_street.html
*Stocks tumble as bailout plan fails in House*
Monday September 29, 4:42 pm ET
By Tim Paradis, AP Business Writer
*Stocks plunge as financial bailout plan fails in House vote; Dow falls more than 735 at lows*

NEW YORK (AP) -- Wall Street's worst fears came to pass Monday, when the government's financial bailout plan failed in Congress and stocks plunged precipitously -- hurtling the Dow Jones industrials down nearly 780 points in their largest one-day point drop ever. Credit markets, whose turmoil helped feed the stock market's angst, froze up further amid the growing belief that the country is headed into a spreading credit and economic crisis.

Stunned traders on the floor of the New York Stock Exchange, their faces tense and mouths agape, watched on TV screens as the House voted down the plan in mid-afternoon, and as they saw stock prices tumbling on their monitors. Activity on the floor became frenetic as the "sell" orders blew in.

The Dow told the story of the market's despair. The blue chip index, dropped by hundreds of points in a matter of moments, and by the end of the day had passed by far its previous record for a one-day drop, 684.81, set in the first trading day after the Sept. 11, 2001, terror attacks.

The selling was so intense that just 162 stocks rose on the NYSE -- and 3,073 dropped.

It takes an incredible amount of fear to set off such an intense reaction on Wall Street, and the worry now is that with the $700 billion plan fate uncertain, no one knows how the financial sector hobbled by hundreds of billions of dollars in bad mortgage bets will recover. While investors didn't believe that the plan was a panacea, and understood that it would take months for its effects to be felt, most market watchers believed it was a start toward setting the economy right after a credit crisis that began more than a year ago and that has spread overseas.

"Clearly something needs to be done, and the market dropping 400 points in 10 minutes is telling you that," said Chris Johnson president of Johnson Research Group. "This isn't a market for the timid."

The plan's defeat came amid more reminders of how troubled the nation's financial system is -- before trading began came word that Wachovia Corp., one of the biggest banks to struggle due to rising mortgage losses, was being rescued in a buyout by Citigroup Inc. It followed the recent forced sale of Merrill Lynch & Co. and the failure of three other huge banking companies -- Bear Stearns Cos., Washington Mutual Inc. and Lehman Brothers Holdings Inc.; all of them were felled by bad mortgage investments.

And it raised the question: Which banks are next, and how many? The Federal Deposit Insurance Corp. has a list of over 110 banks that were in trouble in the second quarter, and that number surely has grown in the third.

According to preliminary calculations, the Dow fell 777.68, or 6.98 percent, to 10,365.45. The decline also surpasses the 721.56-point intraday decline record also set during the first trading day after the terror attacks. Still, in percentage terms, the decline remained well below the more than 20 percent drops seen on Black Monday of October 1987 and the Depression.

Broader stock indicators also tumbled. The Standard & Poor's 500 index declined 106.85, or 8.81 percent, to 1,106.42.

The technology-heavy Nasdaq composite index fell 199.61, or 9.14 percent, to 1,983.73.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street snapped back Tuesday after its biggest sell-off in years amid growing expectations that lawmakers will salvage a $700 billion rescue plan for the financial sector. But the seized-up credit markets where businesses turn to raise money showed no sign of relief.

The recovery in stocks wasn't unexpected as carnage on Wall Street often attracts bargain hunters, though questions remain about how investors will proceed. Without a bailout plan in place to absorb soured mortgage debt and other bad loans from battered banks, investors are left wondering what might restore confidence in lending.

Major stock indexes were almost a sideshow during the session, with the credit markets as the main event. A key rate that banks charge to lend to one another shot higher, a tightening of the availability of credit that could cascade through the economy.


*The NYSE DOW closed HIGHER +485.21 points	+4.68% on Tuesday September 30*

Sym Last........ ........Change..........
Dow	10,850.66	+485.21	+4.68%
Nasdaq	2,082.33	+98.60	+4.97%
S&P 500	1,164.74	+58.35	+5.27%
30-yr Bond	4.3050%	+0.1440

NYSE Volume	6,059,697,500
Nasdaq Volume	2,376,686,500


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,902.45	+83.68	+1.74%
DAX	5,831.02	+23.94	+0.41%
CAC 40	4,032.10	+78.62	+1.99%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	11,259.86	-483.75	-4.12%
Hang Seng	18,016.21	+135.53	+0.76%
Straits Times	2,358.91	-2.43	-0.10%

http://biz.yahoo.com/ap/080930/wall_street.html
*Stocks surge higher, but credit worries persist*
Tuesday September 30, 4:30 pm ET
By Joe Bel Bruno and Tim Paradis, AP Business Writers
*Investors snap up beaten down shares after Wall Street's big sell-off, credit concerns linger*

NEW YORK (AP) -- Wall Street snapped back Tuesday after its biggest sell-off in years amid growing expectations that lawmakers will salvage a $700 billion rescue plan for the financial sector. But the seized-up credit markets where businesses turn to raise money showed no sign of relief.

The recovery in stocks wasn't unexpected as carnage on Wall Street often attracts bargain hunters, though questions remain about how investors will proceed. Without a bailout plan in place to absorb soured mortgage debt and other bad loans from battered banks, investors are left wondering what might restore confidence in lending.

Major stock indexes were almost a sideshow during the session, with the credit markets as the main event. A key rate that banks charge to lend to one another shot higher, a tightening of the availability of credit that could cascade through the economy.

Traders on the floor of the New York Stock Exchange, still stunned from Monday's 778-point rout in the Dow Jones industrial average, warned that the government needs to approve a plan that will sweep away the fears that hobbled the credit markets. While U.S. political leaders have vowed to revisit the issue, the House isn't slated to meet again until Thursday.

"If it doesn't pass, then look out below," said Jason Weisberg, an NYSE trader for Seaport Securities. "It could get ugly."

Though the blue-chip index rose nearly 500 points by late afternoon, the main worry for traders is that a lack of a plan will make it nearly impossible for some companies to fund basic operations like making payroll. Participants in the credit market buy and sell debt that companies use to finance operations.

The benchmark London Interbank Offered Rate, or LIBOR, that banks charge to lend to one another, rose sharply Tuesday, making it more expensive and difficult for consumers and businesses to borrow money. In addition, credit card debt and more than half of adjustable-rate mortgages are tied to LIBOR, so an increase isn't welcome for many consumers.

LIBOR for 3-month dollar loans rose to 4.05 percent from 3.88 percent on Monday. LIBOR for 3-month euro loans, meanwhile, rose to 5.27 percent, from 5.22 percent Monday.

Critics of the bailout package believe that it was too costly and wouldn't have done enough to jump-start lending. To maintain pressure ahead of Thursday's likely vote, President Bush said in a statement from the White House early Tuesday that the damage to the economy will be "painful and lasting" unless Congress passes the bailout measure.

On Wall Street, many traders likely will proceed cautiously while they gauge prospects for resurrecting the bailout effort, which was backed by leaders of both parties.

"I'm not getting the sense that investors are going to be jumping in with both feet until there is some kind of resolution on the plan," said James Maguire, an NYSE floor trader with Christopher J. Forbes. "If there's a no vote, we're going to see a lower overall drift in stocks. It will be a slow bleed."

Traders also will likely focus on how the bloodshed will look on paper. Tuesday marks the final session of the third quarter -- and what is typically the worst month for the stock market -- so some portfolio managers might try to do what they can to dress up their performance. Others might simply wish to dump holdings in an unpopular corners of the market like the financial sector.

At the close, the Dow rose 485.21, or 4.68 percent, to 10,850.66 after falling nearly 7 percent on Monday to its lowest close in nearly three years. It was the largest point drop and 17th largest percentage drop in the blue chip index. The percentage decline was far less severe than the 20-plus-percent drops seen in the stock market crash of October 1987 and before the Great Depression.

Broader stock indicators also bounced higher. The Standard & Poor's 500 index recovered 58.34, or 5.27 percent, to 1,164.73, and the Nasdaq composite index rose 98.60, or 4.97 percent, to 2,082.33.

The S&P fell 8.79 percent Monday, while the Nasdaq lost 9.14 percent.

The yield on the 3-month Treasury bill rose Tuesday to 0.89 percent from 0.14 percent late Monday. The yield fell Monday as investors clamored for the safety of government debt. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.83 percent from 3.58 percent late Monday. The dollar rose against other major currencies and gold prices advanced.

While investors focused on what might come from Washington this week, Wall Street was cheered by several economic readings.

A private research group reported that consumer confidence rose unexpectedly in September. The Conference Board said Tuesday its Consumer Confidence Index rose to 59.8 from a revised 58.5 in August; Wall Street had expected a reading of 55.5, according to Thomson/IFR. The reading, which doesn't reflect attitudes following Monday's steep stock market sell-off, remains near a 16-year low.

The Chicago Purchasing Managers' index, which measures business conditions across Illinois, Michigan and Indiana, came in at 56.7 compared with 57.9 in August -- a second straight month of a strong reading.

Light, sweet crude rose $4.27 to settle at $100.64 on the New York Mercantile Exchange. Oil fell more than $10 a barrel Monday as investors worried that a weaker economy would curtail demand.

Advancing issues outnumbered decliners by about 2 to 1 on the New York Stock Exchange, where volume came to a light 1.02 billion shares.

The Russell 2000 index of smaller companies rose 22.86, or 3.32 percent, to 679.58.

Overseas, Japan's Nikkei stock average fell 4.12 percent. But Hong Kong's Hang Seng index rose 0.76. Britain's FTSE 100 rose 1.74 percent, Germany's DAX index added 0.41 percent, and France's CAC-40 rose 1.99 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## James Austin

anyone know what time US senate will announce bailout vote tonight?

and,
anyone got a link to live video announcement of vote?

thanks
James


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The financial markets saw some relative calm Monday as investors uneasily awaited a Senate vote on the banking bailout plan, with Wall Street closing with only modest losses and the credit markets still showing signs of strain. The Dow Jones industrials zigzagged during the session, losint more than 200 points in early trading but closing down about 20 -- a far cry from the huge swings the blue chips saw during the first two sessions of the week.

Many investors were reluctant to make any major moves before the vote expected Wednesday night on a revised version of the plan defeated earlier this week by the House. The new proposal includes tax breaks for businesses and the middle class and increases deposit insurance.

*The NYSE DOW closed LOWER -19.59 points	-0.18% on Wednesday October 1*

Sym Last........ ........Change..........
Dow	10,831.07	-19.59	-0.18%
Nasdaq	2,069.40	-22.48	-1.07%
S&P 500	1,161.06	-5.30	-0.45%
30-yr Bond	4.2480%	-0.0570

NYSE Volume	5,788,633,500
Nasdaq Volume	1,935,115,750


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,959.59	+57.14	+1.17%
DAX	5,806.33	-24.69	-0.42%
CAC 40	4,054.54	+22.44	+0.56%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	11,368.26	+108.40	+0.96%
Hang Seng	18,016.21	+135.53	+0.76%
Straits Times	2,358.91	closed

http://biz.yahoo.com/ap/081001/wall_street.html
*Stocks end relatively calm day with modest loss*
Wednesday October 1, 4:34 pm ET
By Tim Paradis, AP Business Writer
*Wall Street closes relatively quiet session with modest losses, credit markets still strained*

NEW YORK (AP) -- The financial markets saw some relative calm Monday as investors uneasily awaited a Senate vote on the banking bailout plan, with Wall Street closing with only modest losses and the credit markets still showing signs of strain. The Dow Jones industrials zigzagged during the session, losint more than 200 points in early trading but closing down about 20 -- a far cry from the huge swings the blue chips saw during the first two sessions of the week.

Many investors were reluctant to make any major moves before the vote expected Wednesday night on a revised version of the plan defeated earlier this week by the House. The new proposal includes tax breaks for businesses and the middle class and increases deposit insurance.

While they waited, the markets absorbed economic data that was a reminder of the impact of the credit crisis that is now more than a year old. In an assessment of the manufacturing sector in September, the Institute for Supply Management revealed a troubling drop in new orders, which portends a continuing slowdown in the months ahead. The trade group's overall index of manufacturing activity fell to 43.5 in September from 49.9 in August. Wall Street had expected a reading of 49.5, according to economists polled by Thomson/IFR.

"We're now seeing in those numbers that we're getting a contraction in economic activity," said Jim Dunigan, managing executive of investments at PNC Wealth Management.

At this point in the credit crisis, weak economic numbers are coming as no surprise to Wall Street -- but September's numbers are expected to be particularly bleak because of the seizing up of the credit markets that occurred during the month. The reports are further reminders of how much pain is being felt in the economy, and the data may well motivate more investors to pull money out of stocks.

But for the moment, the greatest concern on the Street remains the stagnant credit markets.

"We've taken the credit markets for granted much like you do the electricity coming on every day but in this particular case the power grid is down," said Dunigan. "If we don't have a functioning credit market banks aren't lending to each other -- credit is dried up. That ultimately affects economic activity."

Nervousness about debt has made banks hesitant to extend loans; banks have preferred to hold onto their cash. But some analysts and policymakers are worried that drop in lending will curtail economic growth. And the fear paralyzing the credit markets is making it more difficult and expensive for some companies to fund their day-to-day operations, putting basics like payroll at risk.

The London Interbank Offered Rate, or Libor, on overnight dollar loans dropped to 3.79 percent on Wednesday from Tuesday's record 6.88 percent. Libor measures how much banks are charging one another to borrow. Many consumer lending rates, including about half of all U.S. adjustable-rate mortgages, are tied to Libor.

But overnight Libor remains well above the target Fed funds rate of 2 percent, showing that banks are still tending to hoard their cash rather than lend it.

Demand for the safety of government debt increased Wednesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.71 percent from 3.83 percent late Tuesday. The yield on the 3-month T-bill, the safest type of investment, fell to 0.83 percent from 0.88 percent late Tuesday. The decline in yields indicates that investors are willing to accept even modest returns to protect their money.

Financial markets likely will remain nervous until voting on Capitol Hill is complete. According to preliminary calculations, the Dow fell 19.59, or 0.18 percent, to 10,831.07. The blue chip index fell 778 points Monday, its steepest drop in years, after lawmakers rejected the bailout plan, then rallied 485 points Tuesday on hopes party leaders would find the votes to pass the measure.

Broader stock indicators were narrowly lower. The Standard & Poor's 500 index fell 5.30, or 0.45 percent, to 1,161.06, and the Nasdaq composite index fell 22.48, or 1.07 percent, to 2,069.40.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## Kauri

Washington rescue package main driver; apparently to be voted on "after US7.30PM" tonight. FDIC limits to be increased to 250k as part of package. France says no European bank rescue package planned; France announces the government will buy 30,000 un-built houses to support construction industry(owning 30000 unbuilt houses that no-one wants or can finance..what a bargain... or is it bailout wrapped in different paper??). GE issues $3bn preferred stocks to Berkshire Hathaway (Warren Buffet), will also issue $12bn in common stock to individuals Thursday. Talking heads on TV & pols note mounting anectdotal evidence that credit crunch affecting mains street (E.G. car dealers struggling to finance inventory, sales of Hummers fall 50%).


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Pessimism about a protracted economic downturn washed over the financial markets Thursday, sending stocks plunging and further tightening the credit markets. Reports on declining factory orders and a seven-year high in jobless claims stoked fears that the government's financial rescue plan won't ward off a recession, and the Dow Jones industrials skidded nearly 350 points.

Investors appeared to be settling in for a prolonged economic winter. The main concern is that the $700 billion bailout plan won't be enough to stimulate growth, and economic reports delivered Thursday show that the U.S. continues to struggle.

*The NYSE DOW closed LOWER -348.22 points	-3.22% on Thursday October 2

Sym Last........ ........Change..........
Dow	10,482.85	-348.22	-3.22%
Nasdaq	1,976.72	-92.68	-4.48%
S&P 500	1,114.28	-46.78	-4.03%
30-yr Bond	4.1540%	-0.0940**

NYSE Volume	6,356,569,500
Nasdaq Volume	2,224,295,000

Europe
Symbol... Last...... .....Change.......
FTSE 100	4,870.34	-89.25	-1.80%
DAX	5,660.63	-145.70	-2.51%
CAC 40	3,963.28	-91.26	-2.25%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225	11,154.76	-213.50	-1.88%
Hang Seng	18,211.11	+194.90	+1.08%
Straits Times	2,364.79	+5.88 	+0.25%

http://biz.yahoo.com/ap/081002/wall_street.html
Stocks decline on unemployment, factory reports
Thursday October 2, 5:44 pm ET
By Joe Bel Bruno, AP Business Writer
Stocks fall on unemployment claims, factory orders data as investors fear protracted downturn

NEW YORK (AP) -- Pessimism about a protracted economic downturn washed over the financial markets Thursday, sending stocks plunging and further tightening the credit markets. Reports on declining factory orders and a seven-year high in jobless claims stoked fears that the government's financial rescue plan won't ward off a recession, and the Dow Jones industrials skidded nearly 350 points.

Investors appeared to be settling in for a prolonged economic winter. The main concern is that the $700 billion bailout plan won't be enough to stimulate growth, and economic reports delivered Thursday show that the U.S. continues to struggle.

The government said the number of people seeking unemployment benefits rose last week and that demand at the nation's factories has fallen by the largest amount in nearly two years. The market is interpreting the Commerce Department report on factories as a sign that tight credit conditions are hitting manufacturers.

"The economy is what's driving this weakness," said Subodh Kumar, global investment strategist at Toronto-based Subodh Kumar & Associates. "I think now what's going on is a focus on the economic weakness in a whole bunch of areas."

He also said, "the next couple of days are going to be pretty intense politically" as Wall Street girds for another vote on the financial bailout plan. The bill that passed the Senate late Wednesday will be sent to the House as soon as Friday. The latest version of the bill adds $100 billion in tax breaks for businesses and the middle class and raises the limit on federal deposit insurance to $250,000 from $100,000.

Supporters are hoping the sweetened bill will be more palatable to some of the 133 House Republicans who rejected the measure in a vote Monday that took Wall Street, and many on Capitol Hill, by surprise.

Those in favor of the plan to let the government buy billions of dollars in bad mortgage debt and other now-soured assets say it will help unclog the world's credit markets. Banks are fearful of making loans, even to each other, because of worries they won't be repaid. That, in turn, is weighing on the economy, making borrowing more difficult and expensive for businesses and consumers alike.

The credit markets showed some increased strain Thursday. The yield on the 3-month T-bill, the safest type of investment, fell to 0.70 percent from 0.79 percent late Wednesday. The historically low yields indicate investors are willing to accept the smallest of returns to safeguard their money.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.64 percent from 3.74 percent late Wednesday.

The stock market is a leading economic indicator of sorts, because investors tend to buy and sell based on where they believe the economy will be six months or more in the future. Thursday's big drop points to a market increasingly resigned to further economic instability whether or not the bailout plan becomes law.

"There are a lot of people who think regardless of a bailout, there's still this economic data and the horror stories out there," said Todd Salamone, director of trading at Schaeffer's Investment Research. "Certainly, there's a negative psychology."

Investors might get another grim reading about the economy on Friday when the Labor Department releases its September jobs report, one of the most closely watched indicators. The report is expected to show a loss of 100,000 jobs, according to a median estimate from economists. That would be the ninth straight month that the economy has lost jobs.

The Dow fell 348.22, or 3.22 percent, to 10,482.85. The blue chips plunged nearly 778 points Monday, logged a partial rebound Tuesday and finished modestly lower Wednesday; still the Dow has had triple-digit swings every day this week, having fallen more than 200 during Wednesday's trading.

Broader stock indicators also fell sharply Thursday. The Standard & Poor's 500 index fell 46.78, or 4.03 percent, to 1,114.28, and the Nasdaq composite index fell 92.68, or 4.48 percent, to 1,976.72.

Light, sweet crude fell $4.56 to settle at $93.97 a barrel on the New York Mercantile Exchange. Gold and other commodities also declined during the session.

Billionaire investor Warren Buffett said the U.S. has been hit with an "economic Pearl Harbor," and the government must respond quickly. "That sounds melodramatic, but I've never used that phrase before. And this really is one," Buffett said in an appearance on the "The Charlie Rose Show" on PBS stations.

The Labor Department reported Thursday that initial claims for unemployment benefits rose by 1,000 last week to a seasonally adjusted 497,000, above expectations for a 475,000 increase. That's the highest seen since the immediate aftermath of the Sept. 11, 2001, terrorist attacks, and unnerved investors worried about not only about strains in the financial market but also the effect on the broader economy.

Beyond employment, the government reported that orders for manufactured goods fell by 4 percent in August from July. Economists had expected a 2.5 percent decline. It is the biggest drop since a 4.8 percent decline in October 2006.

The dollar was higher against other major currencies, particularly the euro, even after the European Central Bank left interest rates unchanged. Higher interest rates in Europe generally make the euro more attractive to investors than the dollar.

The ECB left its key interest rate unchanged amid concerns over inflation but explored the option of lowering the rate as the financial crisis increasingly affects the continent. The central bank is also weighing a bailout of the region's financial system, similar to what U.S. lawmakers are considering.

That raised the question of whether policymakers globally might be less focused on fighting inflation, and instead trying to come up with short-term solutions to stimulate the economy.

"At some point, you have to face the realities that we have some serious problems and there aren't going to be any quick fixes," said Ryan Larson, head of equity trading at Voyageur Asset Management. "Even if bailouts pass, the fact remains that it might get credit flowing again but won't solve the broader issues out there."

The Russell 2000 index of smaller companies fell 33.92, or 5.05 percent, to 637.67.

Declining issues led advancers by a 3 to 1 margin on the New York Stock Exchange, where consolidated volume came to 6.16 billion shares, up from 5.59 billion on Wednesday.

Overseas, Japan's Nikkei stock average fell 1.88 percent. Britain's FTSE 100 fell 1.80 percent, Germany's DAX index fell 2.51 percent, and France's CAC-40 lost 2.25 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com*


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average ended the week down 817.75, or 7.35 percent, at 10,325.38. The Standard & Poor's 500 index finished down 113.78, or 9.38 percent, at 1,099.23. The Nasdaq composite index ended the week down 235.99, or 10.81 percent, at 1,947.39.

The Russell 2000 index finished the week down 85.39, or 12.12 percent, at 619.40.

In the end, congressional approval of the government's $700 billion financial rescue plan Friday did little to lift the financial markets from their growing dejection over the obstacles still facing the economy. Wall Street ended an intensely volatile week with the Dow Jones industrials falling 157 points and the major indexes all suffering big losses.

The credit markets remained stagnant, with no immediate signs of when lending and borrowing would return to levels even approaching normalcy.

Investors dumped stocks late in the session after a big intraday rally, repeating a defensive move seen throughout the yearlong market pullback. As lawmakers voted on the plan, which President Bush quickly signed into law, the Dow advanced more than 300 points. After it passed, the blue chips moved in and out of positive territory.

*The NYSE DOW closed LOWER -157.47 points	-1.50% on Friday October 3*
Sym Last........ ........Change..........
Dow	10,325.38	-157.47	-1.50%
Nasdaq	1,947.39	-29.33	-1.48%
S&P 500	1,099.23	-15.05	-1.35%
30-yr Bond	4.1230%	-0.0310

NYSE Volume	6,790,423,000
Nasdaq Volume	2,548,830,000

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,980.25	+109.91	+2.26%
DAX	5,797.03	+136.40	+2.41%
CAC 40	4,080.75	+117.47	+2.96%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	10,938.14	-216.62	-1.94%
Hang Seng	17,682.40	-528.71	-2.90%
Straits Times	2,297.12	-66.48	-2.81%

http://biz.yahoo.com/ap/081003/wall_street.html
*Stocks end lower amid worries after House OKs plan*
Friday October 3, 6:27 pm ET
By Tim Paradis, AP Business Writer
*Stocks end lower after House approves financial rescue plan; worries about economy remain*

NEW YORK (AP) -- In the end, congressional approval of the government's $700 billion financial rescue plan Friday did little to lift the financial markets from their growing dejection over the obstacles still facing the economy. Wall Street ended an intensely volatile week with the Dow Jones industrials falling 157 points and the major indexes all suffering big losses.

The credit markets remained stagnant, with no immediate signs of when lending and borrowing would return to levels even approaching normalcy.

Investors dumped stocks late in the session after a big intraday rally, repeating a defensive move seen throughout the yearlong market pullback. As lawmakers voted on the plan, which President Bush quickly signed into law, the Dow advanced more than 300 points. After it passed, the blue chips moved in and out of positive territory.

Investors had been anxious for resolution on the government's plan to buy up bad assets from banks and other institutions to shore up the financial industry and help resuscitate credit markets. Trading across markets was turbulent throughout the week as investors tried to determine whether the plan would win approval and what effect it might have if implemented. On Monday, the House's rejection took Wall Street and Capitol Hill by surprise and handed stocks their biggest losses in years.

The Senate subsequently passed a sweetened version of the plan that added tax breaks and raised the limit on federal deposit insurance from $100,000 to $250,000.

But Wall Street has come to realize passage of the plan is not a quick fix.

"We're three weeks into a severe credit crunch and it's causing untold economic damage to the country," said Hank Smith, chief investment officer at Haverford Investments. He said while the bill's passage will help Wall Street, the broader effects of the paralysis in the credit markets have yet to emerge.

"It's fairly reasonable to assume that this should help unfreeze the credit markets but what we don't know is what's happened so far. How much of a dent has it put into the economy?"

The credit markets indicated increased demand for safety. The yield on the three-month Treasury bill, the safest type of investment, fell to 0.50 percent from 0.70 percent late Thursday. Yields have remained low in recent weeks because investors are eager to safeguard their money.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.60 percent from 3.64 percent late Thursday.

The Dow fell 157.47, or 1.50 percent, to 10,325.38 after rising more than 310 points just after the House vote began.

Broader stock indicators also ended lower. The Standard & Poor's 500 index fell 15.05, or 1.35 percent, to 1,099.23, and the Nasdaq composite index fell 29.33, or 1.48 percent, to 1,947.39.

The Russell 2000 index of smaller companies fell 18.27, or 2.87 percent, to 619.40.

Wall Street's decline Friday capped an extraordinary week. On Monday, the Dow tumbled 778 points after the House voted down the financial rescue plan. Then stocks enjoyed a snapback rally Tuesday as investors grew more confident that Washington would assemble some kind of aid; the Dow jumped 485 points. Stocks showed mostly modest moves Wednesday as investors waited for the Senate to take up the bill. Then two-day pullback Thursday and Friday left stocks with huge losses for the week. The Dow lost 7.34 percent -- its worst weekly loss since July 2002.

Meanwhile, the S&P 500 fell 10.8 percent for the week and the Nasdaq declined 9.38 percent.

The coming week marks the one-year anniversary of the peak in the Dow and the S&P 500, while the Nasdaq hit its peak in late October 2007. The Dow is down 27 percent from its high, while the S&P 500 is off 30 percent and the Nasdaq is down 32 percent.

The Dow Jones Wilshire 5000 Composite Index, which measures 5,000 U.S. based companies' stocks, saw an estimated paper loss of about $1.5 trillion for the week, the worst weekly return since the week after trading resumed following the Sept. 11, 2001, terror attacks.

Outside the New York Stock Exchange, traders said the late pullback Friday reflected a pessimism of the past year that there was little underpinning most rallies and therefore it was prudent to lock in profits when possible.

Other traders agreed.

"You're probably seeing a little buy the rumor, sell the news mentality," said Ryan Larson, senior equity trader at Voyageur Asset Management, a subsidiary of RBC Dain Rauscher. Plus, he added, there's a feeling that this plan "isn't a quick fix."

"There are still a lot of problems out there," Larson said.

The bill's approval came as investors digested word that Wells Fargo Co. agreed to buy Wachovia Corp. in a $15.1 billion deal. That cheered Wall Street because, unlike several recent banking tie-ups, it wasn't put together at the behest of regulators or using government money. The agreement upends a plan announced Monday by Citigroup Inc. to acquire Wachovia's banking operations for $2.16 billion, a move orchestrated by the Federal Deposit Insurance Corp. However, Citigroup was demanding that Wachovia honor its agreement. The FDIC said it is standing behind the agreement it made with Citigroup.

Wachovia shares rose $2.89, or 74 percent, to $6.80, while Wells Fargo fell 60 cents, or 1.7 percent, to $34.56. Citigroup fell $4.15, or 18 percent, to $18.35, making it by far the steepest decliner among the 30 stocks that make up the Dow industrials.

Investors also appeared relieved that the government's September employment report wasn't worse, although the Labor Department said payrolls shrank by 159,000, more than the 100,000 economists predicted. The nation's unemployment rate remained flat at 6.1 percent, as expected.

The dollar slipped against most other major currencies, while gold prices fell.

Light, sweet crude fell 9 cents to settle at $93.88 on the New York Mercantile Exchange.

Declining issues outnumbered advancers by about 2 to 1 on the New York Stock Exchange, where consolidated volume came to 6.5 billion shares, compared with 6.2 billion shares traded Thursday.

Overseas, Japan's Nikkei stock average fell 1.94 percent. Britain's FTSE 100 rose 2.26 percent, Germany's DAX index rose 2.41 percent, and France's CAC-40 rose 2.96 percent.

The Dow Jones industrial average ended the week down 817.75, or 7.35 percent, at 10,325.38. The Standard & Poor's 500 index finished down 113.78, or 9.38 percent, at 1,099.23. The Nasdaq composite index ended the week down 235.99, or 10.81 percent, at 1,947.39.

The Russell 2000 index finished the week down 85.39, or 12.12 percent, at 619.40.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended at 11,294.13, down 1,052.90 points, at 8.53 percent, for the week. A year ago, the index was at 15,551.90.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street suffered through another extraordinary and traumatic session Monday, with the Dow Jones industrials plunging as much as 800 points -- their largest one-day point drop -- before recovering to close with a loss of 370. The catalyst for the selling, which also took the Dow below 10,000 for the first time in four years, was investors' growing despair that the spreading credit crisis will take a heavy toll around the world.

Investors have come to the realization that the Bush administration's $700 billion rescue plan and steps taken by other governments won't work quickly to unfreeze the credit markets.

That sent stocks spiraling downward in the U.S., Europe and Asia, and drove investors to sink money into the relative safety of U.S. government debt. Fears about a global recession also caused oil to drop below $90 a barrel.

*The NYSE DOW closed LOWER -369.88 points -3.58% on Monday October 6*
Sym Last........ ........Change..........
Dow 9,955.50 -369.88 -3.58% 
Nasdaq 1,862.96 -84.43 -4.34% 
S&P 500 1,056.89 -42.34 -3.85% 
30-yr Bond 3.9420% -0.1810  
NYSE Volume 7,885,228,500 
Nasdaq Volume 3,502,199,250

*Europe*
Symbol... Last...... .....Change.......
FTSE 100    4,589.19    -281.15    -5.77%
DAX    5,387.01    -410.02    -7.07%
CAC 40    3,711.98    -368.77    -9.04%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225    10,473.09    -465.05    -4.25%
Hang Seng    16,803.76    -878.64    -4.97%
Straits Times    2,168.32    -128.80    -5.61%

http://biz.yahoo.com/ap/081006/wall_street.html
Dow recovers to close down 370 after plunging 800
Monday October 6, 5:13 pm ET 
By Joe Bel Bruno and Tim Paradis, AP Business Writers  
Dow plunges 800 before recovering and closing down 370 amid growing fears over credit crisis 


NEW YORK (AP) -- Wall Street suffered through another extraordinary and traumatic session Monday, with the Dow Jones industrials plunging as much as 800 points -- their largest one-day point drop -- before recovering to close with a loss of 370. The catalyst for the selling, which also took the Dow below 10,000 for the first time in four years, was investors' growing despair that the spreading credit crisis will take a heavy toll around the world.

Investors have come to the realization that the Bush administration's $700 billion rescue plan and steps taken by other governments won't work quickly to unfreeze the credit markets.

That sent stocks spiraling downward in the U.S., Europe and Asia, and drove investors to sink money into the relative safety of U.S. government debt. Fears about a global recession also caused oil to drop below $90 a barrel.

"The fact is, people are scared and the only thing they're doing is selling," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. "Investors are cleaning out portfolios and getting rid of everything because nothing seems to be working."

The selling was so extreme that only 264 stocks rose on the NYSE -- and 2,986 dropped. That's a telling sign considering the stock market is considered a leading economic indicator, with investors tending to buy and sell based on where they believe the economy will be in six to nine months.

Monday's stock trading extended what has been an exceptional stretch of volatility, in which triple-digit drops in the Dow are becoming almost commonplace; in the past week, the blue chips have fallen more than 1,100 points, or nearly 11 percent. This latest decline indicates that investors are becoming more convinced that the country is leading a prolonged economic crisis that is shifting to other nations.

"The market view is shifting from looking just at the misery of the financial sector to the global economy," said Georges Ugeux, chairman and chief executive of New York-based Galileo Global Advisors. "There are enough indication that two things are happening: The crisis is spreading to other sectors, and that it is becoming global."

Ugeux believes Monday's rout had little to do with any short-term problems facing the market, such as paralyzed credit markets or ailing financial companies. He believes that, regardless of the late-day rebound in stocks, "the reaction is clearly giving a downtrend and that there is a lack of confidence of investors into the future growth of the U.S. and the world economy."

The Dow fell as much as 800.06, then recovered in erratic trading to a loss of 369.88, or 3.58 percent, to close at 9,955.50, closing below 10,000 for the first time since Oct. 26, 2004. The Dow surpassed its previous record for a one-day point decline -- 778, which the blue chips suffered a week ago when investors feared the bailout package might not pass Congress.

The Dow is down 30 percent from its peak a year ago this week, when it traded as high 14,198.09.

Broader indexes also tumbled. The Standard & Poor's 500 index shed 42.34, or 3.85 percent, to 1,056.89; and the Nasdaq composite index fell 84.43, or 4.34 percent, to 1,862.96. The Russell 2000 index of smaller companies dropped 23.49, or 3.79 percent, to 595.91.

In Asia, the Nikkei 225 closed 4.25 percent lower. Europe's stock markets also declined, with the FTSE-100 down 5.77 percent, Germany's DAX down 7.07 percent, and France's CAC-40 down 9.04 percent.

The global sell-off came after governments across Europe rushed to prop up failing banks, while the governments of Germany, Ireland and Greece also said they would guarantee bank deposits. As the U.S. tries to repair its battered banking system, the German government and financial industry agreed on a $68 billion bailout for commercial-property lender Hypo Real Estate Holding AG. And France's BNP Paribas agreed to acquire a 75 percent stake in Fortis's Belgium bank after a government rescue failed.

The Fed also took fresh steps Monday to help ease credit markets. The central bank said Monday it will begin paying interest on commercial banks' reserves and will expand its loan program to squeezed banks.

Joseph V. Battipaglia, chief investment officer at Ryan Beck & Co., said government intervention certainly might help. However, he believes investors are sensing that what's happening in the economy is a shift in the extent to which consumers and businesses take on debt, a change that will take years to play out.

"This is a global deleveraging of many economies," he said. "It might appear that you're going into the abyss where the economy grinds to a halt and the financial system goes into complete disarray. But, what the market is really reading here is that this is a global phenomenon, and when you delever like this, it is a process that takes a very long period of time measured in years, not quarters."

The anxiety was again obvious in the credit markets. The yield on the three-month Treasury bill fell to 0.43 percent from late Friday at 0.50 percent. Demand for bills remains high because of their safety; investors are willing to take extremely low returns just to have their money in a secure place.

Investors also moved into longer-term Treasury bonds. The yield on the 10-year note fell to 3.47 percent from 3.60 percent late Friday.

Anthony Sabino, a professor of law and business at St. John's University in New York, said the "market is displaying one of its worst traits with a herd mentality, and investors have an appetite for feeding on fear." He cautions that, while there are deep economic and financial problems being faced, it is still not a nightmare scenario.

"Most certainly, this is not the Great Depression of the 1930s, but (is like) the savings and loan crisis of the 1980s -- and we bailed them out," he said. "Once people catch their breath, they'll see this is the proper analogy and this will breathe life back into banking institutions."

But, most analysts believe that there will be no quick fixes to the current financial crisis. Ryan Jacob, portfolio manager for the Jacob Internet Fund, said he's sensing the market might be getting closer to a short-term bottom but that problems for the economy likely will persist.

He said the passage of the bailout package, billionaire investor Warren Buffett's investment last week in General Electric Co. and even a skirmish between Wells Fargo & Co. and Citigroup Inc. over control of Wachovia Corp. are positive signs.

"We've had some positive anecdotal events in the last week so it's making me a little bit more confident," Jacob said. "These are all signs that make it more likely than not that we're trying to find a near-term bottom."

He's been hunting for bargains lately.

"We had had been a little bit cautious up until really about a month ago," he said. "Over the last few weeks we've been increasing our position levels."

Frederick Dickson, chief market strategist at D.A. Davidson & Co., believes investors are eager for any signs about the well-being of the economy. He doesn't believe that will happen until Wall Street overhauls its expectations for growth of corporate earnings and the overall economy.

"Wall Street at this point is shifting its attention from whether Congress was going to act on the emergency stabilization bill to the realization that the economy is slowing significantly faster than most analysts had expected," he said. "The downturn has shifted from first gear to about third gear in about two weeks."


----------



## MrBurns

There was a huge bounce back from 700 points down, anyone think the bottom may have been reached ?


----------



## billhill

doubt it. look at the US economy not the bailout and all the other crap in the media. big picture tells the story. Americans are rocked and aint goona start spending again for a while whether the bailout or some other plan actually works. Till their economy picks up i doubt the markets will do much but continue sliding. and i think it will get worse before better. it all part of the economic cycle spring clean. gotta clean out the excess and this time their was alot of it. just my .


----------



## Aussiejeff

MrBurns said:


> There was a huge bounce back from 700 points down, anyone think the bottom may have been reached ?




DOH!

Hahaha! You have a sly sense of humour, Mr Burns! The dead cat bounced and twitched again.

Funnily enough, many commentators are totally focussed on how the DOW dances and completely disregard what is happening in Europe. The stench from Europe also wafts over North America I believe.

So - with the FTSE futures now dropping to [size=+2]-8.2%[/size] I somehow doubt a "bottom" has been reached.  More like the ARS* has fallen out of the Euro markets.....

HARK! Is that the sound of Gordon Brown hurriedly packing for a "long holiday" in the Highlands of Bonnie Scotland?





aj


----------



## MrBurns

Aussiejeff said:


> DOH!
> 
> Hahaha! You have a sly sense of humour, Mr Burns! The dead cat bounced and twitched again.
> 
> Funnily enough, many commentators are totally focussed on how the DOW dances and completely disregard what is happening in Europe. The stench from Europe also wafts over North America I believe.
> 
> So - with the FTSE futures now dropping to [size=+2]-8.2%[/size] I somehow doubt a "bottom" has been reached.  More like the ARS* has fallen out of the Euro markets.....
> 
> HARK! Is that the sound of Gordon Brown hurriedly packing for a "long holiday" in the Highlands of Bonnie Scotland?
> 
> 
> 
> 
> 
> aj





I'm convinced, Smithers pack my bags and sell the power station to the Pakistanis, we're out of here.


----------



## Agentm

anyone seen a sign??


this ones from main street to wall street


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Stocks Battered Again as Investors Look for Fed Rate Cut; Dow Plunges 500 as S&P 500 Hits 5-Year Low

Stocks ended lower for the fifth straight session. According to preliminary calculations, the Dow fell 508.39, or 5.11 percent, to 9,447.11. The drop came a day after the blue chips fell below 10,000 for the first time in four years. The Dow skidded as much as 800 points on Monday before finishing with a loss of 370.

The misery worsened on Wall Street Tuesday, with stocks piling on the losses late in the session and bringing the two-day decline in the Dow Jones industrials to more than 875 points amid escalating worries about credit markets and financial sector. The Dow lost more than 500 points and all the major indexes slid more than 5 percent.

Steps by the Federal Reserve to reinvigorate the dormant credit markets ultimately weren't enough to calm nervous investors. News about financial companies only added to their despondent mood.


*The NYSE DOW closed LOWER -508.39 points -5.11% on Tuesday October 7*
Sym Last........ ........Change..........
Dow	9,447.11	-508.39	-5.11%
Nasdaq	1,754.88	-108.08	-5.80%
S&P 500	996.23	-60.66	-5.74%
30-yr Bond	4.0270%	+0.0850

NYSE Volume	7,040,854,000
Nasdaq Volume	2,893,151,500

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,605.22	+16.03	+0.35%
DAX	5,326.63	-60.38	-1.12%
CAC 40	3,732.22	+20.24	+0.55%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	10,155.90	-317.19	-3.03%
Hang Seng	16,803.76	-878.64	-4.97%
Straits Times	2,177.55	+9.23	+0.43%

http://biz.yahoo.com/ap/081007/wall_street.html
*Dow dips more than 500 on worries about financials*
Tuesday October 7, 4:33 pm ET
By Tim Paradis, AP Business Writer
*Dow sinks more than 500 as concerns about financials overshadow Fed plan to buy corporate debt*

NEW YORK (AP) -- The misery worsened on Wall Street Tuesday, with stocks piling on the losses late in the session and bringing the two-day decline in the Dow Jones industrials to more than 875 points amid escalating worries about credit markets and financial sector. The Dow lost more than 500 points and all the major indexes slid more than 5 percent.

Steps by the Federal Reserve to reinvigorate the dormant credit markets ultimately weren't enough to calm nervous investors. News about financial companies only added to their despondent mood.

"The calls I'm getting -- every money manager I deal with, and every client I talk to -- are just very emotional. This is a very, very emotional time, and most of them are taking steps to shore up their defenses, reducing exposure to stocks just to defend their portfolios," said Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors.

Meanwhile, Federal Reserve Chairman Ben Bernanke warned in a speech Tuesday that the financial crisis could prolong the difficulty the economy is facing. While his remarks were widely regarded as a sign that an interest rate cut could be in the offing, Wall Street appeared little comforted and focused on his downbeat assessment of the economy.

Earlier, the Fed announced plans to buy massive amounts of corporate debt to jump-start lending in the markets where many companies turn for short-term loans called commercial paper. The evaporation of faith that loans will be repaid has lenders weary and is making it more difficult and expensive for businesses and consumers to borrow.

The credit markets did show some slight signs of easing as demand for safe-haven investments decreased, though that seemed to offer little comfort to investors still worried about the decreased levels of lending and their impact on the overall economy. The markets seized up last month after Lehman Brothers Holdings Inc. declared bankruptcy and the government stepped in to rescue insurer American International Group Inc.

The Fed's latest move to lubricate the credit markets stops short of a broad interest rate reduction that some investors say is necessary to restore confidence in the market. Other market watchers argue, however, that more focused steps like Fed's decision to buy commercial paper are what's needed.

But investors remained worried about financial companies like Bank of America Corp., which fell after slashing its dividend and reporting that its third-quarter profit fell 68 percent. The stock fell $8.45, or 26 percent, to $23.77 Tuesday. It was by far the steepest decliner among the 30 stocks that comprise the Dow industrials.

And a rumor that Mitsubishi UFJ Financial Group Inc. was pulling out of a deal to acquire up to 24.9 percent of the voting shares of Morgan Stanley sent the investment bank's stock tumbling $5.85, or 25 percent, to $17.65. The companies denied the rumor, but the Street was panicky enough that it still sent Morgan Stanley and other financials tumbling.

Investors are fearful that financial companies will continue to face cash shortages even with efforts in Washington and by other governments to resuscitate lending.

"It's such a widespread loss of confidence and, to some extent, a race for the exits," Johnson said.

Stocks ended lower for the fifth straight session. According to preliminary calculations, the Dow fell 508.39, or 5.11 percent, to 9,447.11. The drop came a day after the blue chips fell below 10,000 for the first time in four years. The Dow skidded as much as 800 points on Monday before finishing with a loss of 370.

Broader indexes also fell. The Standard & Poor's 500 index declined 60.66, or 5.74 percent, to 996.23, while the Nasdaq composite index fell 108.08, or 5.80 percent, to 1,754.88.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## Aussiejeff

That's one helluva ugly graph right there for Tue (last night). No significant signs of life at all (bit like the Martian landscape?). Just a prolonged [size=+1]-600pt[/size] slide right from the get go. :goodnight


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

An angst-ridden Wall Street tried but failed to find stability Wednesday, with investors attempting to determine whether an emergency interest rate cut would end the paralysis in credit markets. The major indexes moved in and out of positive territory before turning sharply lower in late trading and leaving the Dow Jones industrials down nearly 190 points.

The Federal Reserve and other leading central banks cut rates in the hope that credit markets would soon relax and that banks would begin lending more freely to businesses and consumers. The Fed lowered rates by a half-point, saying in a statement that the turmoil in financial markets posed a further threat to an already shaky economy; it was joined in the rate cut by the European Central Bank, Bank of England, The Bank of Canada, the Swedish Riksbank and the Swiss National Bank.


*The NYSE DOW closed LOWER -189.01 points -2.00%  on Wednesday October 8*
Sym Last........ ........Change..........
Dow 9,258.10 -189.01 -2.00% 
Nasdaq 1,740.33 -14.55 -0.83% 
S&P 500 984.94 -11.29 -1.13% 
10 Yr Bond(%) 3.7150% +0.2090 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,366.69 -238.53 -5.18% 
DAX 5,013.62 -313.01 -5.88% 
CAC 40 3,496.89 -235.33 -6.31% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,203.32 -952.58 -9.38% 
Hang Seng 15,431.73 -1,372.03 -8.17% 
Straits Times 2,038.17 -139.38 -6.40% 

http://biz.yahoo.com/ap/081008/wall_street.html
*Stocks zigzag, end lower after emergency rate cut*
Wednesday October 8, 4:58 pm ET 
By Joe Bel Bruno and Tim Paradis, AP Business Writer  
*Wall Street seesaws, then closes lower as investors seek stability after emergency rate cut* 

NEW YORK (AP) -- An angst-ridden Wall Street tried but failed to find stability Wednesday, with investors attempting to determine whether an emergency interest rate cut would end the paralysis in credit markets. The major indexes moved in and out of positive territory before turning sharply lower in late trading and leaving the Dow Jones industrials down nearly 190 points.

The Federal Reserve and other leading central banks cut rates in the hope that credit markets would soon relax and that banks would begin lending more freely to businesses and consumers. The Fed lowered rates by a half-point, saying in a statement that the turmoil in financial markets posed a further threat to an already shaky economy; it was joined in the rate cut by the European Central Bank, Bank of England, The Bank of Canada, the Swedish Riksbank and the Swiss National Bank.

But interest rate changes take months to work their way through the economy, and while investors clearly were happy with the central banks' actions, they were also well aware that in the near term, banks remain reluctant to lend because of fears they won't be paid back.

That fear, which increased after the failure of Lehman Brothers Holdings Inc. in mid-September, has all but shut down the credit markets, making it increasingly hard for companies and individuals to borrow, and in turn, posing a further threat to the economy. Wall Street has plunged in response to scarcity of credit; stocks initially rose on the rate cut Wednesday, then spent the day seesawing as investors were torn between some optimistic bargain hunting and the reality of the credit markets' ongoing troubles.

Although Wednesday's losses were smaller than Monday's 370-point drop in the Dow and Tuesday's 504-point slide, it was obvious that the stock market is still extremely shaky. There were signs that investors were picking and choosing -- the Standard & Poor's 500 index and the Nasdaq composite index both had percentage declines about half the size of the Dow's -- but nervousness still drove the market.

"Until we have some more confidence here it's going to be difficult to sustain any rally," said Bill Schultz, chief investment officer at McQueen, Ball & Associates in Bethlehem, Pa. "Unfortunately you probably sell the rallies for a little while until we run out of sellers."

According to preliminary calculations, the Dow Jones industrial average ended down 189.01, or 2.00 percent, at 9,258.10.

Broader stock indicators also fell. The S&P 500 index slid 11.29, or 1.13 percent, to 984.94, and the Nasdaq fell 14.55, or 0.83 percent, to 1,740.33.

With its precipitous drop of the past few weeks, Wall Street is approaching the magnitude of the losses it suffered during the bear market in the early part of this decade. By the time the Dow reached its low of that market, 7,286.27 on Oct. 9, 2002, it had fallen 37.8 percent from its record high close of 11,722.98, set in January 2000.

The Dow has now fallen about 35 percent from the closing high of 14,164.53, reached a year ago Thursday. This week, the Dow has lost 1,067 points, or 10.3 percent

The worries on the Street have been exacerbated by the spread of the U.S. credit problems overseas. Several banks in Europe have had to be bailed out, and earlier this week, the governments of Germany, Ireland and Greece took steps to guarantee private bank deposits.

Moreover, the markets are mindful of the fact that the government's $700 billion financial rescue plan is in its early stages of implementation and will take some time to have an impact on banks' balance sheets.

David Wyss, chief economist for Standard & Poor's, said the heavy losses in stock markets around the world signal that markets are determining that the credit crisis won't likely be resolved soon.

"There was a general disregard for risk going on in financial markets around the world, it wasn't just the U.S.," he said. "Now they're waking up to risk."

Investors had been anxious in recent days for a rate cut, and despite the Fed taking other steps this week to help the credit markets. Policymakers unveiled a plan to buy massive amounts of commercial paper, the short-term debt used by companies, in a bid to reanimate the credit markets.

It is likely that stocks won't begin to recover for good until investors are certain the credit markets are functioning in a more normal fashion. There are also severe economic problems including heavy job losses and high unemployment that will also need to show improvement.

The uncertainty in the market has driven investors to buy up anything deemed safe, including gold and government debt. For instance, prices of gold shot up $22.60 to $904.60 -- though still off its record of $1,033.90 in March.

Demand for short-term Treasurys remained high because of their safety; investors are willing to take extremely low returns just to have their money in a secure place. The yield on the three-month Treasury bill, which moves opposite its price, dropped to 0.66 percent from 0.81 percent late Tuesday.

However, longer term Treasury bonds fell because they are considered to be less attractive when the Fed cuts rates. The yield on the 10-year note rose to 3.70 percent from 3.51 percent late Tuesday.

The first third-quarter earnings reports are showing signs of strain on companies, and that is adding more uncertainty to the stock market. After the close Tuesday, Alcoa Inc. said it would conserve cash by suspending its stock buyback program and all non-critical capital projects. The aluminum company's earnings fell 52 percent.

Shares of the company fell $2, or 12 percent, to $14.71, by far the steepest decline among the 30 that comprise the Dow industrials.

Retailers' reports of bleak sales in October appeared to dampen investor sentiment at times.

Wal-Mart Stores Inc. said sales rose in September but issued a tepid forecast for October. Often discounters do better than other retailers during tough economic times so the forecast from the world's largest retailer caused some worries about overall retail demand. Wal-Mart fell 29 cents to $54.55.

Luxury retailers turned in a generally weak performance. Saks Inc. fell 96 cents, or 13 percent, to $6.24 after sales fell more than Wall Street had expected.

Declining issues were narrowly ahead of advancers on the New York Stock Exchange, where volume came to a heavy 2.13 billion shares.

The Russell 2000 index of smaller companies fell 12.38, or 2.21 percent, to 546.57.

European indexes had a short-lived bounce after the rate cut. In Britain, the FTSE-100 ended down 5.18 percent, Germany's DAX dropped 5.88 percent, and France's CAC-40 dropped 6.31 percent.

In Asia, Japan's Nikkei 225 closed 9.38 percent lower and Hong Kong's Hang Seng tumbled 8.17 percent hours before the rate cuts were announced; their declines showed the extent of the worldwide gloom. And Russia's two main stock exchanges were suspended because of a massive sell-off right after their openings.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## Aussiejeff

Look$ like *America$ Greate$t Fear* is $talking the $treet$ again....


----------



## noirua

Final DOW is not yet calculated, but 671.11 down at 07.06 AEST, at 8587.0


----------



## noirua

Final DOW Jones at the close, 678.91 down at 8579.2 - Down 7.25%.


----------



## Aussiejeff

Agentm said:


> anyone seen a sign??
> 
> 
> this ones from main street to wall street




Looks like they just did.....  :flush:


----------



## explod

Having now fallen through the main support areas between 9 and 10gs, further capitulations could soon see the test of 7,500 and after that,... could only say a blood bath next, major support would be 3 or 4 thousand.

Any other takers ?


----------



## Aussiejeff

explod said:


> Having now fallen through the main support areas between 9 and 10gs, further capitulations could soon see the test of 7,500 and after that,... could only say a blood bath next, major support would be 3 or 4 thousand.
> 
> Any other takers ?




Could we also see the NYSE suspended for trade if it has another slightly bigger fall than just occurred? Isn't it "STOP-LOSSED" at -10%??

Seems the "Closed For Business" signs are starting to pop up around the world (Iceland, Indonesia - who's next?).


----------



## noirua

Aussiejeff said:


> Could we also see the NYSE suspended for trade if it has another slightly bigger fall than just occurred? Isn't it "STOP-LOSSED" at -10%??
> 
> Seems the "Closed For Business" signs are starting to pop up around the world (Iceland, Indonesia - who's next?).



Looks as if Institutions may be selling and companies desperate to survive.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Stocks plunged in the final hour of trading Thursday, sending the Dow Jones industrial average down more than 675 points, or more than 7 percent, to its lowest level in five years after a major credit ratings agency said it was considering cutting its rating on General Motors Corp.

The Standard & Poor's 500 index also fell more than 7 percent.

The declines came on the anniversary of the closing highs of the Dow and the S&P. The Dow has lost 5,585 points, or 39 percent, since closing at 14,198 a year ago. The S&P 500, meanwhile, is off 655 points, or 42 percent, since recording its high of 1,565.15.

*The NYSE DOW closed LOWER -678.91 points -7.33% on Thursday October 9*
Sym Last........ ........Change..........
Dow 8,579.19 -678.91 -7.33% 
Nasdaq 1,645.12 -95.21 -5.47% 
S&P 500 909.92 -75.02 -7.62% 
30-yr Bond 4.1200% +0.0570 

NYSE Volume 8,286,465,000 
Nasdaq Volume 2,657,992,250 



*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,313.80 -52.89 -1.21% 
DAX 4,887.00 -126.62 -2.53% 
CAC 40 3,442.70 -54.19 -1.55% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,157.49 -45.83 -0.50% 
Hang Seng 15,943.24 +511.51 +3.31% 
Straits Times 2,116.58 +82.97 +4.08% 

http://biz.yahoo.com/ap/081009/wall_street.html
*Dow plunges more than 678 to fall below 9,000*
Thursday October 9, 4:53 pm ET 
By Tim Paradis, AP Business Writer  
*Dow falls more than 678 points to trade below 9,000 in late afternoon sell-off *

NEW YORK (AP) -- Stocks plunged in the final hour of trading Thursday, sending the Dow Jones industrial average down more than 675 points, or more than 7 percent, to its lowest level in five years after a major credit ratings agency said it was considering cutting its rating on General Motors Corp.

The Standard & Poor's 500 index also fell more than 7 percent.

The declines came on the anniversary of the closing highs of the Dow and the S&P. The Dow has lost 5,585 points, or 39 percent, since closing at 14,198 a year ago. The S&P 500, meanwhile, is off 655 points, or 42 percent, since recording its high of 1,565.15.

Thursday's sell-off came as Standard & Poor's Ratings Services put GM and its finance affiliate GMAC LLC under review to see if its rating should be cut. GM has been struggling with weak car sales in North America.

The action means there is a 50 percent chance that S&P will lower GM's and GMAC's ratings in the next three months.

S&P also put Ford Motor Co. on credit watch negative. The ratings agency said that GM and Ford have adequate liquidity now, but that could change in 2009.

GM led the Dow lower, falling $2.15, or 31 percent, to $4.76, while Ford fell 58 cents, or 22 percent, to $2.08.

"The story is getting to be like that movie Groundhog Day," said Arthur Hogan, chief market analyst at Jefferies & Co. He pointed to the still-frozen credit markets, and Libor, the bank-to-bank lending rate that remains stubbornly high despite the Fed's recent rate cut.

"Until that starts coming down, you'll be hard-pressed to find anyone getting excited about stocks," Hogan said. "Everything we're seeing his historic. The problem is historic, the solutions are historic, and unfortunately, the sell-off is historic. It's not the kind of history you want to be making."

According to preliminary calculations, the Dow fell 678.91, or 7.3 percent, to 8,579.19. The blue chips hadn't closed below the 9,000 level since the June 30, 2003.

Broader stock indicators also tumbled. The Standard & Poor's 500 index fell 75.02, or 7.6 percent, to 909.92, while the Nasdaq composite index fell 95.21, or 5.47 percent, to 1,645.12.

The Russell 2000 index of smaller companies fell 47.37, or 8.67 percent, to 499.20.

A wave of fear about the economy sent stocks lower late in the final two hours of trading after a volatile start to a day in which major indicators like the Dow and the S&P 500 index bobbed up and down. The Nasdaq, with a bevy of tech stocks, spent much of the session higher but eventually as the sell-off intensified. Still, its losses were less severe because of the relatively modest drops in names like Intel Corp. and Microsoft Corp.

On the New York Stock Exchange, declining issues came to nearly 3,000, while fewer than 250 advanced.

The sluggishness in the credit markets that triggered much of the heavy selling in markets around the world since mid-September appeared little changed Thursday following days of efforts by the Federal Reserve and other central banks to resuscitate lending.

Libor, the bank lending benchmark, for three-month dollar loans rose to 4.75 percent from 4.52 percent on Wednesday. That signals that banks remain hesitant to make loans for fear they won't be paid back.

The Fed and other leading central banks this week lowered key interest rates to help unclog the credit markets and promote lending to help the global economy. While a rate cut can take up to a year to work its way through the economy, the move was aimed as a boost to investor sentiment.

"We're stuck in a morass and I think it's going to take quite some time to come out of it," said Stephen Carl, principal and head of equity trading at The Williams Capital Group.

Demand remained high for short-term Treasurys, a refuge for investors willing to trade modest returns to protect their money. The yield on the three-month Treasury bill, which moves opposite its price, fell to 0.51 percent from 0.63 percent late Wednesday. Longer-term debt prices fell, with the yield on the 10-year note rising to 3.77 percent from 3.65 percent late Wednesday.

Investors across markets were mulling a plan being considered by the Bush administration to invest in hobbled U.S. banks as a way to stabilize the financial sector. The $700 billion rescue package signed into law last week allows the Treasury Department to inject fresh capital into financial institutions and obtain ownership shares in return.

Britain rolled out a similar plan, though no U.K. bank has received any investments. In Iceland, the government now has control of the country's three major banks as it struggles to contain the troubles there.

Wall Street is also looking for any effects of short selling now that a three-week ban imposed by regulators has expired. Short selling is a technique in which investors borrow shares in a company from a broker and sell them, hoping to buy them back later at a lower price. Essentially, it's a bet that a stock's price will fall. Short sellers can lose money if they have to repurchase the stock after it has risen.

Some analysts believe the unprecedented ban on short selling -- an effort to bolster investor confidence -- did more harm than good at a time of historic market volatility. They contend that short sellers help the market rally by covering their bets and creating demand for stocks.

"I think the market's way oversold. But I can't stand in the way of this falling knife -- I'd get sliced open," said Phil Orlando, chief equity market strategist at Federated Investors. "Investors are just saying, get me out at any price."

He also said that with the short-selling rule back in play, hedge funds might be shorting again to make up for their forced liquidations.

Volume on the NYSE came to 2.04 billion shares.

In Asia, Japan's Nikkei 225 closed down 0.50 percent while the Hang Seng added 3.31 percent. In Europe, Britain's FTSE-100 fell 1.21 percent, Germany's DAX fell 2.53 percent, and France's CAC-40 declined 1.55 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street capped its worst week ever with a wild session Friday that saw the Dow Jones industrials rocket within a 1,000 point range before closing with a relatively mild loss and the Nasdaq composite index actually end with a modest advance. Investors were still agonizing over frozen credit markets, but seven days of massive losses made many stocks tempting for traders looking for bargains.

The Dow lost 128 points, giving the blue chips an eight-day loss of just under 2,400. The average had its worst week on record in both point and percentage terms, as did the Standard & Poor's 500 index, the indicator most watched by market professionals.

But there were signs Friday that some investors might believe the market was at or near a bottom. Just one day earlier, selling accelerated in the last hour of trading, giving the Dow a loss of 678 points, as many market players fled, while Friday, many people were clearly buying. And the Russell 2000 index, which tracks the movements of smaller company stocks, had a 4.66 percent gain Friday; small-cap stocks are often first on investors' shopping lists when they think a market turnaround is at hand.

The Dow has lost 1,874.19 points, or 18.2 percent, over the past week. Its dismal performance outdid the week that ended July 22, 1933, which saw a 17 percent drop -- and back then, during the Great Depression, there were six trading days in a week.


*The NYSE DOW closed LOWER -128.00	 points-1.49% on Friday October 10*
Sym Last........ ........Change..........
Dow	8,451.19	-128.00	-1.49%
Nasdaq	1,649.51	+4.39	+0.27%
S&P 500	899.22	-10.70	-1.18%
30-yr Bond	4.14%	+0.02

NYSE Volume	11,433,071,000
Nasdaq Volume	4,219,466,000


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,087.88	-225.92	-5.24%
DAX	4,541.20	-345.80	-7.08%
CAC 40	3,176.49	-266.21	-7.73%


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,276.43	-881.06	-9.62%
Hang Seng	14,796.87	-1,146.37	-7.19%
Straits Times	1,948.33	-154.38	-7.34%

http://biz.yahoo.com/ap/081010/wall_street.html
*Stocks end wild session mixed after 8-day slide*
Friday October 10, 5:01 pm ET
By Tim Paradis, AP Business Writer
*Wall Street ends mixed after 8 days of massive losses; Dow swings over 1,000 pts*

NEW YORK (AP) -- Wall Street capped its worst week ever with a wild session Friday that saw the Dow Jones industrials rocket within a 1,000 point range before closing with a relatively mild loss and the Nasdaq composite index actually end with a modest advance. Investors were still agonizing over frozen credit markets, but seven days of massive losses made many stocks tempting for traders looking for bargains.

The Dow lost 128 points, giving the blue chips an eight-day loss of just under 2,400. The average had its worst week on record in both point and percentage terms, as did the Standard & Poor's 500 index, the indicator most watched by market professionals.

But there were signs Friday that some investors might believe the market was at or near a bottom. Just one day earlier, selling accelerated in the last hour of trading, giving the Dow a loss of 678 points, as many market players fled, while Friday, many people were clearly buying. And the Russell 2000 index, which tracks the movements of smaller company stocks, had a 4.66 percent gain Friday; small-cap stocks are often first on investors' shopping lists when they think a market turnaround is at hand.

The hair-trigger mentality of the market -- a reflection of the intense anxiety on the Street -- was evident from the opening bell. The Dow fell 696 points in the first 15 minutes, recovered to an advance of more than 100 before the first hour was over, then turned sharply lower again before moving in swings of hundreds of points at the day's end.

Investors have spent much of the past month shuddering over a credit market that remains frozen, posing a threat to the economy. But Friday's gainers included financial stocks, the ones most decimated amid the ongoing banking and credit crisis.

The major indexes' sharp swings throughout the day were likely exacerbated by the computer-driven "buy" and "sell" orders that kicked in when prices fell far enough to make some stocks look like attractive bets or make other investors want to exit the market. The spurts of buying didn't reflect an easing of the market's despair, and trading is likely to remain volatile when the market reopens on Monday.

"Fear has been running rampant all over the Street. Fear and greed, that's what rules the Street. I think the carcass has been stripped to the bone," said Dave Henderson, a floor trader on the New York Stock Exchange for Raven Securities Corp.

According to preliminary calculations, the Dow fell 128.00, or 1.49 percent, to 8,451.49. At its low point Friday, the Dow was down 696 at 7,882.51, just 60 points above its low in Wall Street's last bear market, 7,286.27, reached Oct. 9, 2002. It crossed the line between gains and losses 32 times during the session.

The Dow rebounded from a low of 7,882.51 for the day -- the worst trading level since March 17, 2003. Still, its closing level Friday was the lowest since April 25, 2003.

The Dow has lost 1,874.19 points, or 18.2 percent, over the past week. Its dismal performance outdid the week that ended July 22, 1933, which saw a 17 percent drop -- and back then, during the Great Depression, there were six trading days in a week.

Broader stock indicators were mixed. The Standard & Poor's 500 index fell 10.70 or 1.18 percent, to 899.22, while the Nasdaq composite index rose 4.39, or 0.27 percent, to 1,649.51.

The Russell 2000 rose 23.28, or 4.66 percent, to 522.48.

President Bush said Friday the government's efforts to rescue the financial sector was powerful enough to succeed but that it would take some time to be fully implemented.

His remarks came as finance ministers and central bankers from the Group of Seven nations gathered Friday in Washington to discuss the economic meltdown. One of the potential remedies expected to be reviewed at the meeting is for governments to guarantee lending among banks.

Most major central banks around the world slashed interest rates this week after continuing problems in the credit market triggered concerns that banks will run out of money. Analysts have described the mood on trading floors this week as panicked at times, with investors bailing out of investments on fears there is no end in sight to the financial carnage.

A stream of selling forced exchanges in Austria, Russia and Indonesia to suspend trading, and those that remained opened were hammered. The rout in Australian markets caused traders there to call it "Black Friday."

European stocks sank Friday, with Britain's FTSE-100 falling 8.85 percent, German's DAX declining 7.01 percent, and France's CAC-40 ending down 7.73 percent. In Asia, the collapse of Japan's Yamato Life Insurance caused already nervous investors to pull even more money out of the market -- the Nikkei 225 fell 9.6 percent.

An index considered to be Wall Street's fear gauge reached record highs on Friday in another sign of massive investor anxiety. The Chicago Board Options Exchange Volatility Index, known as the VIX, rose to an all-time intraday high of 76.94 Friday. The VIX, which usually trades under 50, tracks options activity for the companies that make up the S&P 500.

Still, prospects of further government help and, perhaps, attractive prices helped parts of the financial sector show signs of life. Big national banks were among the gainers, including Bank of America Corp., which rose $1.24, or 6.3 percent, to $20.87. Some smaller banks also rose, including Fifth Third Bank Corp., which advanced 67 cents, or 6.9 percent, to $10.40.

Not all financials enjoyed a bounce, however. Morgan Stanley Inc. fell $2.77, or 22 percent, to $9.68 as investors worried that even with a major investment from Japan's Mitsubishi UFJ Financial Group the company was still facing troubles. Meanwhile, Goldman Sachs Group Inc. fell $12.55, or 12 percent, to $88.80.

Citigroup Inc. said late Thursday it was suspending its bid to acquire Wachovia Corp., which will be acquired by Wells Fargo & Co. Citigroup rose $1.18, or 9.1 percent, to $14.11, while Wells Fargo fell $1.06, or 3.9 percent, to $28.31. Wachovia surged $1.55, or 43 percent, to $5.15.

Financials were most prominent among the smattering of stocks that rose in the S&P 500, though technology stocks generally advanced. Apple Inc. rose $8.06, or 9.1 percent, to $96.80, while eBay Inc. rose 77 cents, or 4.8 percent, to $16.73.

Investors appeared unfazed by final results arriving in afternoon trading from an auction Friday that set the price of debt issued by now bankrupt Lehman Brothers Holdings Inc. at 8.625 cents on the dollar, down from a preliminary estimate of 9.75 cents.

The auction was for credit default swaps, which are contracts used to insure against the default of financial instruments like bonds and corporate debt. Traded in a $60 trillion, unregulated market, many of the instruments have fallen sharply because of their ties to bad mortgage debt. Those big losses and nervousness about who holds what CDS has made financial institutions hesitant to lend to one another. The auction could help the market determine which companies are most at risk from CDS losses.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com


*The NYSE DOW closed HIGHER +936.42 points +11.08%  on Monday October 13*
Sym Last........ ........Change..........
Dow 9,387.61 +936.42 +11.08% 
Nasdaq 1,844.25 +194.74 +11.81% 
S&P 500 1,003.35 +104.13 +11.58% 
30-yr Bond 4.1370% 0.0000 

NYSE Volume 7,206,568,000 
Nasdaq Volume 2,665,724,250 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,256.90 +324.84 +8.26% 
DAX 5,062.45 +518.14 +11.40% 
CAC 40 3,531.50 +355.01 +11.18% 

*Asia*Symbol..... Last...... .....Change.......
Nikkei 225 8,276.43 closed for holiday
Hang Seng 16,312.16 +1,515.29 +10.24% 
Straits Times 2,076.35 +128.02 +6.57% 

http://biz.yahoo.com/ap/081013/wall_street.html
*Dow jumps 936 as governments pledge bank aid*
Monday October 13, 4:59 pm ET 
By Tim Paradis, AP Business Writer  
*Dow soars 936 after major governments pledge to support the global banking system *


NEW YORK (AP) -- Wall Street stormed back from last week's devastating losses Monday, sending the Dow Jones industrials soaring a nearly inconceivable 936 points after major governments' plans to support the global banking system reassured distraught investors. All the major indexes rose more than 11 percent.

The market was expected to rebound after eight days of precipitous losses that took the Dow down nearly 2,400 points, but few expected this kind of advance, which saw the Dow by far outstrip its previous record one-day point gain, 499.19, set during the waning days of the dot-com boom. The Standard & Poor's 500 index also set a record for a one-day point gains.

There were cheers and applause on the floor of the New York Stock Exchange at the closing bell, and trading was so active that prices were still being computed several minutes after the closing bell, longer than it would take on a quieter day.

Still, while the magnitude of Monday's gains stunned investors and analysts, few were ready to say Wall Street had reached a bottom. The market is likely to have back-and-forth trading in the coming days and weeks -- and may well see a pullback when trading resumes Tuesday -- as investors work through their concerns about the banking sector, the stagnant credit markets and the overall economy.

John Lynch, chief market analyst for Evergreen Investments in Charlotte, N.C., said Monday's rally was encouraging but he doubted it signaled the worst has passed.

"My screen is completely green and I love that, but I'm not doing any backflips yet. We still have many challenges up ahead," Lynch said, noting the ongoing strains in credit markets and forecasts for poor corporate earnings for 2009.

Denis Amato, chief investment officer at Ancora Advisors, said it's too soon to say whether the market has started to carve out a bottom and that the credit markets where many companies turn for day-to-day loans will need to loosen for stocks to hold their gains. With the U.S. bond markets and banks closed Monday for Columbus Day, it was difficult for investors to gauge the reaction of the credit markets to actions by major governments.

He said the severity of the selling last week was one possible signal that the market might be nearing a bottom and that the stepped up intervention of the government is a welcome sign for the markets.

"I think we had enough negatives last week that if the government steps in we could have a pretty nice run. Is it off to the races? No, I don't think so. We have a lot of stuff to work through."

The market did appear to take heart when the Bush administration said it is moving quickly to implement its $700 billion rescue program, including consulting with law firms about the mechanics of buying ownership shares in a broad number of banks to help revive the stagnant credit markets and in turn get the economy moving again.

Neel Kashkari, the assistant Treasury secretary who is interim head of the program, said in a speech Monday officials were also developing guidelines to govern the purchase of soured mortgage-related assets. However, he gave few details about how the program will actually buy bad assets and bank stock.

A relatively tame finish to Friday's session and a weekend off gave analysts and investors some time to reassess last week's tumultuous trading. And stock prices that were decimated by frenetic selling are now looking attractive.

Jim King, chief investment officer at National Penn Investors Trust Co., said the fear that took hold of the markets last week was overwrought and could signal that a bottom is near. When selling turns so frenetic that it hits a broad swath of stocks indiscriminately, as it did last week, many market watchers say a market low is at hand. That creates opporunity, King noted.

"We have exceptional companies at fire sale prices," he said.

Still, King cautioned that any market rebound likely will be choppy.

"Even if this is the beginning of a recovery we're not just going to have up markets from here on in," he said. "We're not through the woods. We think there is collateral damage from this debacle." King pointed to an increase in unemployment and nervousness among consumers that could, for example, hurt retailers and in turn, take stocks lower.

According to preliminary calculations, the Dow rose 936.42, or 11.08 percent, to 9,387.61. The Dow's previous record for a one-day point gain was 499.19, or 4.93 percent, on March 16, 2000.

Broader stock indicators also jumped Monday. The S&P 500 index advanced 104.13, or 11.58 percent, to 1,003.35; it was the biggest point gain ever for the S&P 500, eclipsing the 66.33, or 4.76 percent, jump it had on March 16, 2000. It was the biggest percentage gain for the index since March 15, 1933, when it surged 16.6 percent.

The Nasdaq rose 194.74, or 11.81 percent, to 1,844.25, its 10th biggest point gain; during the dot-com boom, the index soared as much as 324.83 in one day. Its percentage gain Monday was second to the 14.2 percent logged Jan. 3, 2001, the same day that the Nasdaq set its record for a one-day point gain.

About 3,030 stocks advanced on the New York Stock Exchange, while only about 160 declined -- a reversal from last week, when declining stocks overwhelmed the gainers. But the trading volume of 1.82 billion shares was lighter than it had been last week, suggesting there was less conviction in the buying than during last week's selling.

Lynch described the mood among investors as "relaxed" compared to the hysteria of last week's crushing losses.

Wall Street was cheered by word from the Bank of England that it would use up to $63 billion to help the three largest British banks strengthen their balance sheets.

The Bank of England, the European Central Bank and the Swiss National Bank also jointly announced plans to work together to provide as much short-term funding as necessary to help revive lending.

After a series of weekend meetings in Washington of heads of the Group of Seven nations, the gains in global markets signaled that investors found comfort from the actions and pledges coming from government officials.

The surge in stocks comes after a dismal week on Wall Street that erased an estimated $2.4 trillion in shareholder wealth. The Dow, after eight consecutive daily losses that totaled just under 2,400, or 22.1 percent, finished at its lowest level since April 2003, and also suffered its worst weekly percentage loss ever, a fall of 18.2 percent.

Meanwhile, the S&P 500 and the Nasdaq each lost 15.3 percent last week.

Recoveries from past crashes have taken considerable time. When the market crashed Oct. 19, 1987, sending the Dow down 508 points to 1,738.34, the blue chips had lost 938 points, or 36.1 percent, since reaching a then-record close of 2,722.42 on Aug. 25, 1987. It took just over 15 months for the Dow to get back to its pre-crash level, and almost two years to the day -- Aug. 24, 1989 -- to reach a new closing high, 2,734.64.

The Dow has an even larger percentage drop to regain this time. By Friday's close, the average had fallen 5,713 points, or 40.3 percent, from its record finish of 14,165.43 a year earlier, on Oct. 9, 2007. More recently, it has had fallen 2,970, or 26 percent, from its close before the Sept. 15 collapse of Lehman Brothers Holdings Inc., the event that triggered the freeze-up in the credit markets and that sent stocks plunging.

Investors have worried that banks' reluctance to lend to one another would imperil economic activity by making it harder and more expensive for businesses and consumers to get a loan. The mid-September bankruptcy of Lehman Brothers Holdings Inc. exposed major fault lines in the credit market as investors lost money on bad debt. That triggered a tightening of lending conditions.

"Everybody is basically waiting on the decision on where they're going to inject cash," Dave Rovelli, managing director of U.S. equity trading at Canaccord Adams in New York, said of Bush administration officials. He said with the bond markets closed, U.S. government officials are likely holding off on announcement of details about where it might invest money until all major global markets are open.

Rovelli said that a sustainable advance on Wall Street could prove elusive.

"Everybody knew that we were going to have an up day eventually," he said, warning that the rally doesn't necessarily signal an end of the market's troubles.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude rose $3.49 to $81.19 on the New York Mercantile Exchange after oil fell to its lowest level in 13 months last week.

The Russell 2000 index of smaller companies rose 48.41, or 9.27 percent, to 570.89.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street ended a relatively calm session with a moderate loss. The Dow closed down 76 points a day after its record 936-point jump. Investors, while pleased with the government's plans to spend $250 billion to buy stock in private banks, decided to cash in some of their profits from the previous day's massive advance.

According to preliminary calculations, the Dow fell 76.62, or 0.82 percent, to 9,310.99. Broader stock indicators also declined. The Standard & Poor's 500 index fell 5.34, or 0.53 percent, to 998.01, and the Nasdaq composite index fell 65.24, or 3.54 percent, to 1,779.01.

It was the first time in nine sessions that the Dow Jones industrial average didn't close up or down in triple digits although it did swing in a 700-point range.

*The NYSE DOW closed LOWER -76.62 points -0.82%  on Tuesday October 14*
Sym Last........ ........Change..........
Dow 9,310.99 -76.62 -0.82% 
Nasdaq 1,779.01 -65.24 -3.54% 
S&P 500 998.01 -5.34 -0.53% 
30-yr Bond 4.26% +0.12 

NYSE Volume 8,195,901,500 
Nasdaq Volume 2,974,378,500

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,394.21 +137.31 +3.23% 
DAX 5,199.19 +136.74 +2.70% 
CAC 40 3,628.52 +97.02 +2.75% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,447.57 +1,171.14 +14.15% 
Hang Seng 16,832.88 +520.72 +3.19% 
Straits Times 2,128.31 +51.96 

http://biz.yahoo.com/ap/081014/wall_street.html
Stocks pull back as profit-taking sets in
Tuesday October 14, 5:14 pm ET  
Stocks pull back as investors take profits after government plan to buy stakes in US banks 


NEW YORK (AP) -- Wall Street ended a relatively calm session with a moderate loss. The Dow closed down 76 points a day after its record 936-point jump. Investors, while pleased with the government's plans to spend $250 billion to buy stock in private banks, decided to cash in some of their profits from the previous day's massive advance.

According to preliminary calculations, the Dow fell 76.62, or 0.82 percent, to 9,310.99. Broader stock indicators also declined. The Standard & Poor's 500 index fell 5.34, or 0.53 percent, to 998.01, and the Nasdaq composite index fell 65.24, or 3.54 percent, to 1,779.01.

It was the first time in nine sessions that the Dow Jones industrial average didn't close up or down in triple digits although it did swing in a 700-point range.

Big advances by many bank stocks helped offset some of the declines in the Dow and the Standard & Poor's 500 index, giving them a better showing for the day than the Nasdaq composite index, which fell more than 3 percent. But the Nasdaq, dominated by technology stocks, also lagged ahead of a profit report from Intel Corp.

Profit-taking started creeping into the market after the Dow surged more than 400 points at the opening. Wall Street is expected to see jittery trading in the weeks and perhaps months ahead because of worries about the economy; stocks also tend to ratchet up and down when they're recovering from a plunge like the one Wall Street has suffered in the past two weeks.

"We don't know if the bottom is in," said Lincoln Anderson, chief investment officer and chief economist at LPL Financial in Boston, referring to the market's advance Monday after huge losses last week. "We certainly expect heightened volatility for a fair amount of time while we sort out just exactly what's going on."

Investors had snapped up stocks Monday in anticipation of the government's plan. President Bush said Tuesday the government will use a portion of the $700 billion financial bailout passed at the start of the month to inject capital into the nation's major banks, which have been slammed by souring mortgage investments. The move follows a similar one announced Monday by European governments to invest about $2 trillion in their own troubled banks.

Investors are hoping extraordinary steps by government officials will help resuscitate stagnant credit markets.

"The tone is cautious," Anderson said. "I don't think anybody is pile driving into the market and doubling up."

The revised bailout plan differs from the original in that it aims to recapitalize banks, not just buy the troubled assets off their books at prices that could leave the banks with losses.

"This begins to penetrate the core of the problem," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners Inc.

But, he said, "there will be a point in time where the euphoria of the bailout plan begins to wear off and the market begins to face reality. And that reality is likely to be a sour earnings season, and that the economy is in recession."

Though the major indexes showed losses, advancing issues outnumbered decliners by about 9 to 7 on the New York Stock Exchange, where volume came to 1.88 billion shares.

Ryan Detrick, senior technical strategist at Schaeffer's Investment Research, said investors pleased about the government's bank plan gravitated toward industrial companies, seeing them as more likely to benefit from a revived credit market than technology companies. That helped send the Nasdaq lower.

"People are thinking more of the blue chips are going to respond," he said.

Light, sweet crude fell $2.56 to settle at $78.63 per barrel on the New York Mercantile Exchange.

The dollar was mixed against other major currencies, while gold prices declined.

The Dow remains 34.3 percent below its Oct. 9, 2007 record close of 14,164.53, and could fluctuate around these levels as investors await signs of stabilization in the housing and job markets.

Cardillo said he believes the worst lows are behind the stock market, but other analysts have shied away from saying Wall Street had reached a bottom. The Dow has not yet fallen below its low during the last bear market, the closing level of 7,286.27 on Oct. 9, 2002.

Investors have been trying to regain their footing after a gruesome week that obliterated about $2.4 trillion in shareholder wealth. The Dow came off an eight-day losing streak that amassed point losses of just under 2,400, or 22.1 percent, bringing the blue-chip index to its lowest level since April 2003. That 18.2 percent weekly plunge in the Dow was the worst in the index's 112-year history.

Following the Columbus Day holiday, the U.S. government bond markets reopened Tuesday and indicated that investors' desire for safe assets remains strong though overall demand appeared to ease. The three-month Treasury bill's yield rose to 0.27 percent from 0.21 percent late Friday, and the 10-year note's yield rose to 4.07 percent from 3.86 percent.

Banks appear to be growing somewhat more willing to lend to one another. The London interbank offered rate, or Libor, for three-month dollar loans fell to 4.64 percent from 4.75 percent. Libor is important because many consumer loans, including about half of all adjustable-rate mortgages, are tied to it.

The recent sell-off in stocks arrived amid a seize-up in lending, as banks and investors around the world grew fearful about the creditworthiness of other institutions following the September bankruptcy of investment bank Lehman Brothers Holdings Inc. and the subsequent failure of thrift bank Washington Mutual Inc. Tight lending conditions make it harder and more expensive for businesses and consumers to get a loan, a headwind for economic growth.

Robert Dye, senior economist at PNC Financial Services Group, said the government's actions likely will help revive the credit markets, where many businesses turn to fund day-to-day operations, but that investors' focus in the past month about the soundness of the financial system had left little time to address other concerns about trouble in the economy.

"These steps are not going to turn the real economy on a dime," he said of the government intervention. "The two keys to the fundamental economy right now are the job market and the housing market and both of those remain distressed."

"There isn't one bottom here. We're talking about multiple events. There will be a bottom in financial market and another in the labor market and one in the housing market. And they're not going to all line up," Dye said.

Many of the nine banks the government identified as ones in which it will invest advanced Tuesday. Among them, Citigroup Inc. rose $2.87, or 18 percent, to $18.62, while Bank of America Corp. rose $3.74, or 16 percent, to $26.53. JP Morgan Chase & Co. fell $1.28, or 3.1 percent, to $40.71.

Intel Corp. fell $1.06, or 6.2 percent, to $15.93 ahead of its quarterly earnings report, which arrived after the closing bell on Wall Street. The chip maker's earnings topped Wall Street's forecast though the company warned the financial crisis is making it difficult to project results and that its fourth-quarter sales could fall short of Wall Street estimates.

The Russell 2000 index of smaller companies fell 16.24, or 2.84 percent, to 554.65.

Asian and European markets shot higher. Hong Kong's Hang Seng index rose 3.19 percent, after a more than 10 percent increase on Monday. Japan's Nikkei index, catching up from the country's market holiday Monday, jumped 14.15 percent -- the largest increase ever.

In Europe, Britain's FTSE 100 jumped 3.23 percent, Germany's DAX index rose 2.70 percent, and France's CAC-40 rose 2.75 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors agonizing over a faltering economy sent the stock market plunging all over again Wednesday after two disheartening reports convinced Wall Street that a recession, if not already here, is inevitable. The market's despair -- fed by a stream of disheartening economic data -- propelled the Dow Jones industrials down 733 points to their second-largest point loss ever, and the major indexes all lost at least 7 percent.

The slide meant that the Dow, which lost 76 points on Tuesday, has given back all but 126 points of its record 936-point gain of Monday, which came on optimism about the banking system in response to the government's plans to invest up to $250 billion in financial institutions.

*The NYSE DOW closed LOWER -733.08  points -7.87% on Wednesday October 15*
Sym Last........ ........Change..........
Dow 8,577.91 -733.08 -7.87% 
Nasdaq 1,628.33 -150.68 -8.47% 
S&P 500 907.84 -90.17 -9.03% 
30-yr Bond 4.25% -0.01 

NYSE Volume 6,505,523,000 
Nasdaq Volume 2,581,825,750 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,079.59 -314.62 -7.16% 
DAX 4,861.63 -337.56 -6.49% 
CAC 40 3,381.07 -247.45 -6.82% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,547.47 +99.90 +1.06% 
Hang Seng 15,998.30 -834.58 -4.96% 
Straits Times 2,037.58 -90.73 

http://biz.yahoo.com/ap/081015/wall_street.html
*Dow plunges 733 as new data points to recession*
Wednesday October 15, 5:13 pm ET 
By Tim Paradis, AP Business Writer  
*Dow plunges 733 as new data suggests a recession, if not already here, is inevitable *

NEW YORK (AP) -- Investors agonizing over a faltering economy sent the stock market plunging all over again Wednesday after two disheartening reports convinced Wall Street that a recession, if not already here, is inevitable. The market's despair -- fed by a stream of disheartening economic data -- propelled the Dow Jones industrials down 733 points to their second-largest point loss ever, and the major indexes all lost at least 7 percent.

The slide meant that the Dow, which lost 76 points on Tuesday, has given back all but 126 points of its record 936-point gain of Monday, which came on optimism about the banking system in response to the government's plans to invest up to $250 billion in financial institutions.

Wednesday's selloff began after the government's report that retail sales plunged in September by 1.2 percent -- almost double the 0.7 percent drop analysts expected -- made it clear that consumers are reluctant to spend amid a shaky economy and a punishing stock market.

The Commerce Department report was sobering because consumer spending accounts for more than two-thirds of U.S. economic activity. The reading came as Wall Street was refocusing its attention on the faltering economy following stepped up government efforts to revive the stagnant lending markets.

Then, during the afternoon, the release of the Beige Book, the assessment of business conditions from the Federal Reserve, added to investors' angst. The report found that the economy continued to slow in the early fall as financial and credit problems took a turn for the worse. The central bank's report supported the market's belief that difficulties in obtaining loans have choked growth in wide swaths of the economy.

"Even though the banking sector may be returning to normal, the economy still isn't. The economy continues to face a host of other problems," said Doug Roberts, chief investment strategist at ChannelCapitalResearch.com. "We're in for a tough ride."

Fed Chairman Ben Bernanke offered a similar opinion, warning in a speech Wednesday that patching up the credit markets won't provide an instantaneous jolt to the economy.

"Stabilization of the financial markets is a critical first step, but even if they stabilize as we hope they will, broader economic recovery will not happen right away," he told the Economic Club of New York.

Analysts have warned that the market will see continued volatility as it tries to recover from the devastating losses of the last month, including the nearly 2,400-point plunge in the Dow over the eight sessions that ended Friday. Such turbulence is typical after a huge decline, but the market's anxiety about the economy was also expected to cause gyrations in the weeks and months ahead.

Selling accelerated in the last hour of trading, a common occurrence during the eight-days of heavy declines. One reason for the heavy selling: Mutual funds need to unload stock to pay investors who are bailing out of the market.

Investors apparently have come to believe that Monday's big rebound was overdone given the problems elsewhere in the economy.

"It really doesn't come as a shock after Monday's gains were I think a little bit excessive," said Charles Norton, principal and portfolio manager at GNICapital, referring to the market's pullback.

He contends that the government has taken so many steps that investors must now wait for some of the actions to help steady the economy.

"It seems like all the tools in the tool chest have mostly been used now and now it's back to reality," he said. "We're still faced with the fact that the economy is slowing and earnings aren't very good."

Doubts about the economy were already surfacing in Tuesday's session, when investors halted an early rally and began collecting profits from stocks' big Monday advance. Wednesday's data confirmed the market's fears that the economy is likely to remain weak for some time, and that corporate profits are likely to suffer.

Mark Coffelt, portfolio manager at Empiric Funds, said moves by European and U.S. government officials to begin investing directly in banks are easing worries about credit. But the steep pullback in stocks that began last month after the credit markets lurched to a near standstill has now created worries that consumers will spend less after seeing the value of their retirement accounts and other investments drop.

"Markets abhor uncertainty and so we got a lot of that resolved this weekend and we got the reward Monday but now people are saying 'OK, now what is the economy going to do?'"

"We're definitely going to get a slowdown from the terror of going through that," Coffelt said.

According to preliminary calculations, a sell-off that intensified late in the session left Dow down 733.08, or 7.87 percent, at 8,577.91. On Monday, Sept. 29, the Dow had its largest point drop 777.68. Wednesday's percentage drop was the biggest since Oct. 26, 1987, which followed Black Monday, the Oct. 19 crash that sent the blue chips down 22.6 percent in a single session.

The Dow's massive decline Wednesday marks its 20th triple-digit move in 23 sessions.

Broader stock indicators also skidded. The Standard & Poor's 500 index fell 90.17, or 9.03 percent, to 907.84, and the Nasdaq composite index fell 150.68, or 8.47 percent, to 1,628.33.

With Wednesday's drop the resumed its string of triple-digit moves.

The stock market was trying to recover from last week's terrible run, which erased about $2.4 trillion in shareholder wealth and brought the Dow to its lowest level since April 2003. The tumble occurred amid a seize-up in lending stemming from a lack of trust among institutions in response to the bankruptcy of investment bank Lehman Brothers Holdings Inc. and the failure of Washington Mutual Inc., which had been the nation's largest thrift.

The credit markets have been showing tentative signs of recovery, though they remain strained, and demand for safe assets remains high. The three-month Treasury bill on Wednesday was yielding 0.33 percent, up from 0.22 percent on Tuesday. Overall yields remain low, showing that demand is so high that investors are willing to earn meager returns as long as their principal is preserved.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.98 percent from 4.03 percent late Tuesday.

Meanwhile, the Labor Department said the producer price index, which measures inflation pressures before they reach the consumer, fell 0.4 percent in September, driven by lower energy costs. That decline matched analysts' expectations.

About 350 stocks advanced at the New York Stock Exchange, while about 2,800 declined. Volume came to 1.68 billion shares.

The Russell 2000 index of smaller companies fell 52.54, or 9.47 percent, to 502.11.

Light, sweet crude fell $4.09 to settle at $74.54 per barrel on the New York Mercantile Exchange.

In Asian trading, Hong Kong's Hang Seng Index lost nearly 5 percent after rising more than 13 percent the previous two days. Markets in Australia, South Korea, China, India and Singapore also sank. Japan's Nikkei 225 index, however, ended up 1.1 percent after soaring 14 percent in the previous session.

In Europe, Britain's FTSE 100 fell 7.08 percent, Germany's DAX index fell 6.49 percent, and France's CAC-40 fell 6.82 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street turned in another stunning finish Thursday and extended its unprecedented streak of volatility -- this time, to the upside -- as investors spent a fractious session again struggling with fears about a recession but giving in to a last-hour wave of buying. The Dow Jones industrials ended up 400 points, after falling 380 in the opening minutes of the session.

It is clear that investors are reacting in the extreme to any negative economic news, including disappointing numbers Thursday on industrial production that sent stocks skidding. But traders are also responding to the market's own dynamics, and when there was no late-session plunge, as there was on Wednesday, buyers piled in before the close.


*The NYSE DOW closed HIGHER +401.35 points	+4.68% on Thursday October 16*
Sym Last........ ........Change..........
Dow	8,979.26	+401.35	+4.68%
Nasdaq	1,717.71	+89.38	+5.49%
S&P 500	946.43	+38.59	+4.25%
30-yr Bond	4.2270%	-0.0210

NYSE Volume	8,103,451,500
Nasdaq Volume	3,419,793,500

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,861.39	-218.20	-5.35%
DAX	4,622.81	-238.82	-4.91%
CAC 40	3,181.00	-200.07	-5.92%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,458.45	-1,089.02	-11.41%
Hang Seng	15,230.52	-767.78	-4.80%
Straits Times	1,941.12	-118.27	-5.74%

http://biz.yahoo.com/ap/081016/wall_street.html
Down ends up 401 to extend streak of volatility
Thursday October 16, 5:10 pm ET
By Tim Paradis, AP Business Writer
Dow ends up 401 in another stunning finish to extend unprecedented streak of volatility

NEW YORK (AP) -- Wall Street turned in another stunning finish Thursday and extended its unprecedented streak of volatility -- this time, to the upside -- as investors spent a fractious session again struggling with fears about a recession but giving in to a last-hour wave of buying. The Dow Jones industrials ended up 400 points, after falling 380 in the opening minutes of the session.

It is clear that investors are reacting in the extreme to any negative economic news, including disappointing numbers Thursday on industrial production that sent stocks skidding. But traders are also responding to the market's own dynamics, and when there was no late-session plunge, as there was on Wednesday, buyers piled in before the close.

Analysts expect this extraordinary volatility to continue, and warned that just as Monday's huge 936-point surge in the Dow was overdone, there was little reason to trust that Thursday's gains would hold.

A rise in shares of Yahoo Inc. over renewed speculation it could cement a deal with one-time suitor Microsoft Corp. helped push the technology-laden Nasdaq composite index up more than 5 percent.

Stocks spent much of the session seeking a direction after Wednesday's steep dive, which took the Dow down 733 points in response to a stream of bad economic news that underscored the likelihood that the country is either in a recession or will be in one -- and that the downturn could be severe. There was no news Thursday to counter those fears, but there were plenty of gyrations in stock prices and the major indexes.

"We're going to continue to see volatility. You're not going to see 50-point ranges, you're going to see two-three-four hundred point ranges," said Woody Dorsey, president of Market Semiotics, a financial forecasting firm in Castleton, Vt.

Investors initially appeared cheered by a better-than-expected reading from the Labor Department on consumer prices. The flat reading on September's Consumer Price Index compares with August's 0.1 percent decline, which was the first in nearly two years. The core index, which eliminates food and energy prices, rose 0.1 percent. Economists had been expecting CPI would rise to 0.1 percent and that core CPI would increase 0.2 percent.

Meanwhile, a weekly snapshot of the job market showed that first-time claims for unemployment benefits declined last week. The Labor Department said new claims fell 16,000 last week to a seasonally adjusted level of 461,000 -- below the 475,000 that had been anticipated. Still, total unemployment remains above the level that economists often associate with recession.

And the Philadelphia Federal Reserve said regional manufacturing conditions weakened in October. The bank's regional index came in at a negative 37.5 compared with a positive 3.8 for September. That news followed word from the Federal Reserve that production at the nation's factories, mines and utilities plunged 2.8 percent last month, on top of a 1 percent drop in August. While the Fed estimated that disruptions related to hurricanes accounted for about 2.25 percentage points of the drop in industrial production, the news was still discouraging for market that is hypersensitive to anything negative about the economy.

Subodh Kumar, global investment strategist at Toronto-based Subodh Kumar & Associates, said markets are jittery because many investors' expectations about the economy were too rosy heading into the summer and the monthlong freeze in the credit markets has dealt the economy another blow, making it harder and more expensive for many businesses and consumers to get loans.

He said the volatility buffeting the markets reflects investors tinkering with their portfolios to match their more sober take on the health of the economy and some investors simply cashing out. That means some vehicles like mutual funds and hedge funds are entering a market already short on buyers and being forced to sell.

Because of investors' great anxiety about the economy, Wall Street is expected to remain extremely volatile, as it has been since last month when the credit markets tightened and stocks plunged. The gyrations this week have been particularly intense, with the Dow industrials soaring 936 points Monday and falling 733 Wednesday following a weak report on retail sales and a disheartening assessment of the economy from the Federal Reserve.

According to preliminary calculations, the Dow rose 401.35, or 4.68 percent, to 8,979.26.

Broader stock indicators also jumped. The Standard & Poor's 500 index rose 38.59, or 4.25 percent, to 946.43, and the Nasdaq composite index rose 89.38, or 5.49 percent, to 1,717.71.

Advancing issues outnumbered decliners by about 2 to 1 on the New York Stock Exchange, where volume came to 2 billion shares.

While the credit markets are performing better than they were last week given several unprecedented actions by governments around the world -- including the decision to buy stakes in private banks -- they are hardly operating normally.

Treasury bills, considered the safest assets around, remained in demand. The three-month Treasury bill on Thursday was yielding 0.49 percent, higher than 0.20 percent on Wednesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.97 percent from 3.98 percent late Wednesday.

Tom Higgins, chief economist at Payden & Rygel Investment Management in Los Angeles, said some professional investors are being forced to turn to the stock market because other markets remain largely paralyzed.

"The reason we're seeing volatility in the stock market is because it's the one market that's trading right now. If you have to liquefy your assets and you need access to cash immediately then the market you're going to do it in is the equity market and that's what I think is pushing around the indexes at this point."

Jim Ferrare, senior portfolio manager at Pinnacle Associates, said the changes that will result from government actions around the world to revive the credit markets will take some time to emerge, letting uncertainty linger on Wall Street.

"Volatility is here for a while but also more importantly the change is not an overnight change," he said, referring to the government's steps to restore normal levels of lending.

Indeed, the Wall Street's fear gauge rose to a record level Thursday. The Chicago Board Options Exchange Volatility Index, known as the VIX, rose to an all-time intraday high of 81.17, its first-ever move over 80. The VIX, which usually trades below 50, tracks options activity for the companies that make up the S&P 500.

Gains by Yahoo helped push the technology sector and the Nasdaq higher. The stock rose after Microsoft Chief Executive Steve Ballmer raised the possibility of renewing his attempt to buy the Internet search company.

In a presentation made at a Florida technology conference, Ballmer said a deal between Microsoft and Yahoo could "still make sense economically."

Microsoft issued a statement saying it has no interest in acquiring Yahoo and that the two companies aren't in talks. Earlier attempts to acquire Yahoo fell through.

But it was enough to help Yahoo shares, which early in the session fell to $11.37, their lowest level in five years. The stock rose $1.24, or 10.6 percent, to $12.99, while Microsoft rose $1.53, or 6.8 percent, to $24.19.

The dollar was mixed against other major currencies.

Light, sweet crude for November delivery fell $4.69 to settle at $69.85 a barrel on the New York Mercantile Exchange, the lowest settlement price since Aug. 23, 2007.

The Russell 2000 index of smaller companies rose 34.46, or 6.86 percent, to 536.57.

In Asian trading, Hong Kong's Hang Seng Index lost 4.8 percent, and Japan's Nikkei index dropped 11.41 percent, following the pattern of trading in the U.S. In Europe, Britain's FTSE 100 fell 5.65 percent, Germany's DAX index fell 4.91 percent, and France's CAC-40 fell 5.92 percent.


----------



## Aussiejeff

In my totally dumb opinion, given the pathetic and bleak economic news out of the US last night, I think this looks like a big Yankee shorts-covering rally.... resulting in a probable Friday "sucker rally" for ASX'ers?

Meh. What would I know.


----------



## jonojpsg

Me, after taking a short on the Dow on Tuesday, fully expecting the 933 point gain to be reversed, closed it the next day after a paltry 300 point drop and missed the big one Wednesday.  I'm back in a short at 8999 tho, expecting more volatility


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

It was an erratic week on Wall Street, with the Dow soaring 936 points on Monday, slipping moderately Tuesday, sinking 733 points Wednesday, and then rallying 401 Thursday. The volatility is not providing investors with much relief, but it is a welcome change from last week's relentless plunge, during which the Dow logged its worst week ever and Wall Street lost about $2.4 trillion in shareholder wealth.

Wall Street ended a tumultuous two-week run relatively quietly Friday, finishing another back-and-forth session mixed as investors were cheered by signs of easing in the credit markets and managed to absorb lackluster economic news with equanimity.

*The NYSE DOW closed LOWER -127.04 points	-1.41% on Friday October 17*
Sym Last........ ........Change..........
Dow	8,852.22	-127.04	-1.41%
Nasdaq	1,711.29	-6.42	-0.37%
S&P 500	940.55	-5.88	-0.62%
30-yr Bond	4.3120%	+0.0850

NYSE Volume	6,608,425,000
Nasdaq Volume	2,782,773,750

[B]Europe[/B]
Symbol... Last...... .....Change.......
FTSE 100	4,063.01	+201.62	+5.22%
DAX	4,781.33	+158.52	+3.43%
CAC 40	3,329.92	+148.92	+4.68%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,693.82	+235.37	+2.78%
Hang Seng	14,554.21	-676.31	-4.44%
Straits Times	1,878.51	-72.69	-3.73%

http://biz.yahoo.com/ap/081017/wall_street.html
*Stocks end back-and-forth session mixed*
Friday October 17, 4:58 pm ET
By Tim Paradis, AP Business Writer
*Stocks end mixed as credit markets show signs of easing; options expiration adds to volatility*

NEW YORK (AP) -- Wall Street ended a tumultuous two-week run relatively quietly Friday, finishing another back-and-forth session mixed as investors were cheered by signs of easing in the credit markets and managed to absorb lackluster economic news with equanimity.

The expiration of options contracts helped tug the market in different directions throughout the session. Still, the Dow Jones industrial average traded within a narrower range than it had in much of the past two weeks. The Dow ended down 127 but big rallies on Monday and Thursday gave all the major indexes gains of well over 3 percent for the week -- but just a partial recovery from the devastating double digit drops of the previous week.

"The stock market has finally realized one thing -- that the governments around the world have thrown in a lot of money and they're using all the tools that they possibly can" to restore order to the credit markets, said Peter Cardillo, chief market economist at Avalon Partners Inc., a New York brokerage house. "I'm sure we'll still have a strong bear grip to the market but I do believe the market was way oversold. I do believe we've made a bottom."

He said economic data are likely to remain bleak but that market has already taken into account much of the economy's problems.

"Everything is ugly. It's going to stay this way for a while," he said.

The market spent the first half of the session vacillating, moving between gains and losses after the government said new home construction dropped by more than expected last month to the lowest pace since early 1991. But investors' mood seemed to pick up later in the session as lending rates for bank-to-bank loans eased, indicating some bank fears about not being repaid by borrowers is easing. Demand for safe-haven investments like Treasury bills also decreased. The final hour of trading again proved pivotal as in much of October; stocks fluctuated as investors squared away positions for the week.

Given the magnitude of most of the recent sessions in October, the indexes' moderate declines Friday seemed barely noteworthy. And advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where volume came to 1.74 billion shares.

The loosening of credit markets appeared to draw most of investors' attention. The London interbank offered rate, or Libor, for three-month dollar loans fell to 4.41 percent from 4.50 percent on Thursday, the fifth consecutive day of declines.

"I think we're beginning to get a slightly better feeling in the credit market," said Cardillo, pointing to the move in Libor.

It was an erratic week on Wall Street, with the Dow soaring 936 points on Monday, slipping moderately Tuesday, sinking 733 points Wednesday, and then rallying 401 Thursday. The volatility is not providing investors with much relief, but it is a welcome change from last week's relentless plunge, during which the Dow logged its worst week ever and Wall Street lost about $2.4 trillion in shareholder wealth.

According to preliminary calculations, the Dow Jones industrial average fell 127.04, or 1.41 percent, Friday to 8,852.22, after falling 261 points in the early going and rising 302 points -- a 563-point range.

Broader stock indicators showed more modest declines. The Standard & Poor's 500 index fell 5.88, or 0.62 percent, to 940.55, while the Nasdaq composite index fell 6.42, or 0.37 percent, to 1,711.29.

The credit markets have been gradually improving after moves by governments around the world, particularly plans to buy stakes in private banks to boost their lending. Demand remains high for Treasury bills, regarded as the safest assets around, an indication that there is uncertainty lingering in the markets.

The three-month Treasury bill Friday yielded 0.81 percent, up from 0.47 percent on Thursday. That indicates a let-up in demand, though the yield has not surpassed 1 percent in more than a week.

The dollar was mixed against other major currencies, while gold prices fell.

David Dietze, president at Point View Financial Services Inc. in Summit, N.J., contends that much of the market's whipsaw moves in the past month have come as hedge funds and mutual funds were forced to sell positions because some shareholders were cashing out.

"These hedge funds are getting hit by redemptions, their credit lines are being pulled and they are having to sell furiously," he said. "Selling begets selling, which begets selling, which begets more selling."

While Dietze sees risks for the economy, he questions whether the rapidity of the stock market's retreat signals the pullback was overdone.

"We have a credit crunch which is morphing into a general recession and certainly a lot of the economic data points down but still, to come in this week and see the markets down 20 percent -- basically a bear market within a bear market just this month -- you wonder if there isn't just this massive overreaction," he said.

A rise in oil prices helped energy companies, some of which had weighed on the market earlier in the week as oil showed steep declines. Light, sweet crude rose $2 to settle at $71.85 a barrel on the New York Mercantile Exchange. On Thursday, it sank to a 14-month low on worries about a deep global recession obliterating fuel demand.

Chesapeake Energy Corp. rose $2.12, or 11.6 percent, to $20.47, while XTO Energy Inc. rose $2.08, or 7 percent, to $31.68.

Health stocks generally rose. UnitedHeatlh Group Inc. advanced $1.76, or 7.8 percent, to $24.39, while Schering Plough Corp. rose 71 cents, or 5.1 percent, to $14.76.

Late Thursday, Google Inc. posted a 26 percent increase in third-quarter profit. Google rose $19.52, or 5.5 percent, to $372.54; early Thursday, the Internet company's stock had fallen to a three-year low.

Economic readings that appeared to trouble the market early in the session seemed to lose their importance as investors looked to improvement in the credit markets.

The Commerce Department reported that housing starts fell more than 6 percent in September to an annual rate of 817,000 units. The figure is lower than the 880,000 units forecast by Wall Street economists surveyed by Thomson/IFR. Building permits also sank.

The report was yet another piece of evidence that the nation is struggling with a weak economy that, if the financial crisis is not solved, could weaken. President Bush on Friday said in a speech that the credit market -- where many companies find funding for their operations -- will take a while to thaw, but that Americans should be confident that it will.

The Russell 2000 index of smaller companies fell 10.14, or 1.89 percent, to 526.43.

Markets overseas were mostly higher Friday. In Asia, Hong Kong's Hang Seng index dropped 4.44 percent to its lowest level in almost three years, but Japan's Nikkei average rose 2.78 percent after a 11.4 percent loss Thursday. In Europe, Britain's FTSE index rose 5.22 percent, Germany's DAX index rose 3.43 percent, and France's CAC-40 rose 4.68 percent.


----------



## Aussiejeff

bigdog said:


> NYSE Dow Jones finished today at:
> Source: http://finance.yahoo.com
> 
> .....
> 
> Wall Street ended a tumultuous two-week run *relatively quietly Friday*, finishing another back-and-forth session mixed as *investors were cheered by signs of easing in the credit markets and managed to absorb lackluster economic news with equanimity*......




If news was so "cheery" and the market finished "quietly", how come it plummeted 400pts from the high to finish well in the red during the final 2 hours of trading?

If I was cynical (sic) I'd say it was an attempt by this media report to dampen the ol' fear factor again....


----------



## bigdog

YSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street pulled back Tuesday as investors worried that companies' forecasts for the fourth quarter and beyond are signaling little easing of the weakness gripping the economy. After logging sharp gains the previous session, the Dow Jones industrial average fell 2.5 percent, while the Nasdaq composite index lost more than 4 percent following a weak showing by technology names.

Some retreat was to be expected after the Dow shot up 413 points on Monday. But investors poring over a mix of companies' third-quarter reports found enough unsettling outlooks, including forecasts from DuPont Co., Texas Instruments Inc. and Sun Microsystems Inc.

*The NYSE DOW closed LOWER -231.77 points -2.50%  on Tuesday October 21*
Sym Last........ ........Change..........
Dow 9,033.66 -231.77 -2.50% 
Nasdaq 1,696.68 -73.35 -4.14% 
S&P 500 955.05 -30.35 -3.08% 
30-yr Bond 4.1940% -0.0900 

NYSE Volume 5,132,578,000 
Nasdaq Volume 2,181,498,250 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100    4,229.73    -52.94    -1.24%
DAX    4,784.41    -50.60    -1.05%
CAC 40    3,475.40    +26.89    +0.78%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225    9,306.25    +300.66    +3.34%
Hang Seng    15,041.17    -281.84    -1.84%
Straits Times    1,920.79    -18.43    -0.95%

http://biz.yahoo.com/ap/081021/wall_street.html
Stocks end lower amid mixed earnings reports
Tuesday October 21, 4:46 pm ET 
By Tim Paradis, AP Business Writer  
Wall Street declines as investors worry over earnings outlooks; credit markets ease 


NEW YORK (AP) -- Wall Street pulled back Tuesday as investors worried that companies' forecasts for the fourth quarter and beyond are signaling little easing of the weakness gripping the economy. After logging sharp gains the previous session, the Dow Jones industrial average fell 2.5 percent, while the Nasdaq composite index lost more than 4 percent following a weak showing by technology names.

Some retreat was to be expected after the Dow shot up 413 points on Monday. But investors poring over a mix of companies' third-quarter reports found enough unsettling outlooks, including forecasts from DuPont Co., Texas Instruments Inc. and Sun Microsystems Inc.

Still, investor anxiety appears to have lessened considerably compared with the previous two weeks when fears about a dearth of available credit and the health of the economy battered stocks across the globe.

Strains in the credit markets eased further in response to a sweeping series of bailout measures by world governments, including a joint U.S. and European plan to buy stakes in private banks to boost to their lending. Demand for Treasury bills, regarded as the safest assets around, lessened further Tuesday in a sign that credit markets are gradually returning to a healthy state.

But analysts have warned that the market will see a stretch of volatile sessions as Wall Street recovers from this month's huge drop. Although investors have been expecting third-quarter earnings, and even fourth-quarter forecasts, to reflect the damage from the financial system's problems, the reality of companies' reports have been unnerving.

"It's just this back-and-filling stuff. It's driven by earnings, yes, but also emotion," said Harry Clark, chief executive of Clark Capital Management in Philadelphia. "It's going to be this tug-of-war for a couple weeks at least."

The technology-focused Nasdaq saw steeper declines than the other major indexes after server and software company Sun Microsystems warned it would post a loss for its fiscal first quarter and book a write-down. Texas Instruments shares fell to their lowest level in more than five years after the chip maker turned in disappointing earnings and issued a lackluster forecast amid slowing orders.

According to preliminary calculations, the Dow fell 231.77, or 2.50 percent, to 9,033.66.

Broader indexes also declined. The Standard & Poor's 500 index fell 30.35, or 3.08 percent, to 955.05. The Nasdaq composite index shed 73.35, or 4.14 percent, to 1,696.68.

Declining issues outpaced advancers by about 2 to 1 on the New York Stock Exchange, where volume came to a light 1.16 billion shares compared with 1.23 billion traded Monday.

Kim Caughey, equity research analyst at Fort Pitt Capital Group, said the absence of the steepest late-session selloffs in the past few days and the lighter trading volumes are signs that some order is returning to the market. At its worst during the past month, investors simply sold whatever they could and the crush of those cashing out weighed on the market. Much of that selling came in the final hour of trading, creating wild swings and massive pullbacks.

"There were a huge amount of redemptions both on the hedge fund side and the mutual fund side that were driving that in the darkest of days," she said, noting that investors now have more time to evaluate stocks on merit. "It's a more or less a normal reaction to company-specific news."

On Monday, markets spiked on more signs of a reviving credit market and support from Federal Reserve Chairman Ben Bernanke for further steps to aid the economy, including an additional stimulus package.

"There is light at the end of the tunnel that this credit crisis is coming to an end," said Peter Cardillo, chief market economist at Avalon Partners. "But, until we see the credit markets turn to full normalcy, the stock market is going to be stop and go."

On Tuesday, the Federal Reserve took more steps to break through a credit clog that has hobbled lending and threatens to plunge the country into a deeper slowdown. The central bank announced it will start buying commercial paper -- a crucial short-term funding mechanism many companies rely on for day-to-day operations -- from money market mutual funds.

The three-month Treasury bill yielded 1.06 percent, down from 1.12 percent late Monday. The levels are a notable improvement from the 0.20 percent seen last Wednesday, when investors were willing to take the slimmest of returns in exchange for a safe place to keep their money.

Longer-term Treasurys rose. The yield on the benchmark 10-year note, which moves opposite its price, fell to 3.73 percent from 3.87 percent late Monday.

Meanwhile, bank-to-bank lending rates continued their retreat, another indication that credit is getting easier to obtain. The London Interbank Offered Rate, or Libor, dropped to the lowest levels in more than a month Tuesday. The rate on three-month loans in dollars shed 0.23 percentage points to 3.83 percent, falling for the seventh straight day.

Besides being an indicator of the credit market's health, Libor is used to set rates for consumer loans including mortgages and credit cards.

The dollar was higher against other major currencies, while gold prices fell.

In corporate news, Kirk Kerkorian's investment firm said it sold 7.3 million of its shares in Ford Motor Co. and plans further sales. He owns a 6.1 percent stake of the company, whose shares fell 16 cents, or 6.9 percent, to $2.17.

Texas Instruments fell $1.13, or 6.3 percent, to $16.85, trading as low as $15.85, the lowest level since March 2003. Meanwhile, Sun dropped $1.01, or 17.5 percent, to $4.77.

Among blue chips, DuPont fell $2.89, or 8 percent, to $33.28, while Pfizer Inc. ended unchanged at $17.34 after the drug maker's results narrowly topped projections for the third quarter.

Caterpillar Inc. fell $2.07, or 5.1 percent, to $38.83 after reporting that its third-quarter profit fell 6 percent. The world's largest maker of construction and mining equipment said higher raw material costs offset record global sales. The company, which noted "recessionary conditions" in North America, forecast flat sales for 2009.

Light, sweet crude fell $3.36 to settle at $70.89 barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies fell 16.19, or 2.96 percent, to 530.65.

Overseas, Japan's Nikkei stock average closed up 3.34 percent. Britain's FTSE 100 fell 1.24 percent, Germany's DAX index fell 1.05 percent, and France's CAC-40 rose 0.78 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street tumbled again Wednesday as investors worried that the global economy is poised to weaken even as parts of the credit market slowly show signs of recovery. The major indexes fell more than 4 percent, including the Dow Jones industrial average, which finished off its lows with a loss of 515 points.

Corporate profit forecasts, a jump in the dollar and falling oil prices signaled investors are fearful that an economic slowdown will sweep the globe even if lending begins to approach more normal levels.

*The NYSE DOW closed LOWER -514.45 ponts-5.69% on Wednesday October 22*
Sym Last........ ........Change..........
Dow 8,519.21 -514.45 -5.69% 
Nasdaq 1,615.75 -80.93 -4.77% 
S&P 500 896.78 -58.27 -6.10% 
30-yr Bond 4.0880% -0.1060 

NYSE Volume 6,260,657,500 
Nasdaq Volume 2,623,335,500

*Europe*
Symbol... Last...... .....Change.......
FTSE 100    4,040.89    -188.84    -4.46%
DAX    4,571.07    -213.34    -4.46%
CAC 40    3,298.18    -177.22    -5.10%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225    8,674.69    -631.56    -6.79%
Hang Seng    14,266.60    -774.57    -5.15%
Straits Times    1,821.13    -99.66    -5.19%

http://biz.yahoo.com/ap/081022/wall_street.html
AP
*Dow skids more than 500 on profit forecast worries*
Wednesday October 22, 5:20 pm ET 
By Tim Paradis, AP Business Writer  
*Dow tumbles more than 500 as unease shifts from credit to health of corporate earnings *

NEW YORK (AP) -- Wall Street tumbled again Wednesday as investors worried that the global economy is poised to weaken even as parts of the credit market slowly show signs of recovery. The major indexes fell more than 4 percent, including the Dow Jones industrial average, which finished off its lows with a loss of 515 points.

Corporate profit forecasts, a jump in the dollar and falling oil prices signaled investors are fearful that an economic slowdown will sweep the globe even if lending begins to approach more normal levels.

The dollar hit multiyear highs against several other major currencies, weighing on commodity prices. That hurt raw materials and energy companies, while giving a boost to airlines. Technology shares fared better than the broader market following quarterly reports from Apple Inc. and Yahoo Inc.

While reduced strains in global credit markets have eased some investors' nervousness about the economy, market anxiety remains as hundreds of companies this week report third-quarter results and issue somewhat murky forecasts that are stirring unease about the economic bumps that may lay ahead.

Wachovia Corp., which is being bought by Wells Fargo & Co., reported that it swung to a huge loss in the third quarter while the drugmaker Merck & Co. said its quarterly profit fell 28 percent and that it would cut more than 10 percent of its work force.

John Thornton, co-portfolio manager at Stephens Investment Management Group LLC in Houston, said investors' fear has shifted from the immediate concerns about tightness in credit and the resulting difficulty in borrowing to the broader economy as companies come out with their quarterly numbers.

"Even if it weren't for the credit crisis we'd probably be looking toward a pretty tough recession anyway," he said. "The third-quarter earnings are kind of uninspiring but third quarter hasn't been the real concern of people. I think the concern is the depth and duration of the downturn and the effect it's going to have on earnings."

According to preliminary calculations, the Dow fell 514.45, or 5.69 percent, to 8,519.21, after being down as much as 698 points in the final half hour of trading. Still, the Dow finished above its Oct. 10 closing low of 8,451. The Dow fell 231 points Tuesday after jumping 413 points Monday.

Broader stock indicators also fell Wednesday. The Standard & Poor's 500 index lost 58.27, or 6.10 percent, to 896.78, its lowest close since it finished at 892 on April 21, 2003.

The technology-heavy Nasdaq composite index fell 80.93, or 4.77 percent, to 1,615.75.

Light trading volume and the Dow's snapback -- a rebound in the final 20 minutes that left the blue chips 183 points above the session's low -- indicated that the trading was more orderly than it had been two weeks ago when waves of selling pounded the major indexes.

"I'm not as concerned about a pullback in the market when you have light volume," said Dave Hinnenkamp, chief executive KDV Wealth Management in Minneapolis.

Meanwhile, credit markets showed improvement after virtually freezing up in the past month. Bank-to-bank lending rates fell sharply overnight, indicating that credit is becoming easier to obtain. The London Interbank Offered Rate, or Libor, on three-month loans in dollars fell to 3.54 percent from 3.83 percent, dropping for an eighth straight day.

Demand for Treasury bills, regarded as the safest assets around, grew slightly compared to the previous day as economic worries led investors to shun risky assets in favor of government bonds.

The three-month Treasury bill yielded 1.00 percent, down from 1.07 percent late Tuesday. The levels are a notable improvement from the 0.20 percent seen last Wednesday, when investors were willing to take the slimmest of returns in exchange for a safe place to keep their money.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.60 percent from 3.74 percent late Tuesday. The dollar was sharply higher against other major currencies, while gold prices fell.

"We're making slow progress and confidence is returning but we're still not there yet," said Christopher Cordaro, chief investment officer at RegentAtlantic Capital LLC in Chatham, N.J.

He said the latest batch of quarterly results, which cover results through Sept. 30, don't reflect the full brunt of the credit freeze-up felt this month and the nervousness among some consumers following the stock market's swoon.

While he expects corporate results will continue to worsen, he also said the markets remain "in panic mode" and investors are perhaps being overly dour in their assessment of how the economy will perform in the next few years.

"When you look at the fundamentals of equities around the world, stocks are selling for very cheap prices," he said. "Behaviorally people project today's current bad news much further out into the future than they should."

Worries about the global economy helped the dollar. The greenback rose against currencies like the British pound and the euro as investors worried about sluggishness in overseas economies. The strong dollar helped drive down the price of oil, as did a government report that U.S. fuel supplies rose last week. Light, sweet crude fell $5.43 to $66.75 a barrel on the New York Mercantile Exchange, after falling as low as $66.20.

Aluminum producer Alcoa Inc. fell $1.63, or 13.4 percent, to $10.52 as commodities lost ground, making it the steepest decliner among the 30 stocks that make up the Dow industrials. Miner Freeport-McMoRan Copper & Gold Inc. fell $5.82, or 17.8 percent, to $26.92.

Energy issues fell as oil slid to its lowest level in 16 months. Exxon Mobil Corp. fell $6.93, or 9.7 percent, to $64.57, while Chevron Corp. fell $5.06, or 7.6 percent, to $61.74.

The decline in oil helped airlines. JetBlue Airways Corp. rose 2 cents, or 0.40 percent, to $5.01, and United Airlines parent UAL Corp. rose 85 cents, or 6.2 percent, to $14.65.

In corporate news, AT&T Inc. said its third-quarter earnings rose 5.5 percent but missed analyst expectations in part because of strong sales of iPhones, which the carrier subsidizes. The stock fell $1.95, or 7.6 percent, to $23.78.

Wachovia fell 38 cents, or 6.2 percent, to $5.71 after reporting its results. Merck slid $1.96, or 6.5 percent, to $28.01.

Some tech names advanced. Apple rose after the company reported a 26 percent increase in its fiscal fourth-quarter earnings. The stock rose $5.38, or 5.9 percent, to $98.87. Yahoo reported a 64 percent drop in third-quarter profits but said it would cut at least 1,500 jobs, cost-cutting that appeared to please investors. The shares rose 32 cents, or 2.7 percent, to $12.39.

Thornton said the latest corporate forecasts are difficult to rely on because companies are grappling with many of the same unknowns that investors are struggling with, primarily the extent of weakness in the economy.

"These markets are making it difficult to gauge how much to read into management comments because clearly they're dealing with unprecedented change in fundamentals. It's hard to take their word on their outlook," he said.

Declining issues outnumbered advancers by about 5 to 1 on the New York Stock Exchange, where volume came to 1.56 billion shares.

The Russell 2000 index of smaller companies fell 28.68, or 5.40 percent, to 501.97.

Markets overseas fell sharply. Japan's Nikkei stock average fell 6.79 percent. Britain's FTSE 100 fell 4.46 percent, Germany's DAX index fell 4.46 percent, and France's CAC-40 lost 5.10 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street spent another session buffeted by volatility Thursday, this time closing mixed after investors wrestled with their fears about the economy but also looked for bargains after two days of selling. While the Dow Jones industrials and Standard & Poor's 500 index rose sharply, a downdraft in tech stocks left the Nasdaq composite index with a loss.

Buying came in spurts and then tended to quickly evaporate as investors fretted that the economy is either in a recession or headed for one. Investors tended to gravitate toward big-name stocks seen as safer bets after a two-day selloff that sliced nearly 750 points from the Dow.

*The NYSE DOW closed HIGHER +172.04 points +2.02%  on Thurssday October 23*
Sym Last........ ........Change..........
Dow 8,691.25 +172.04 +2.02% 
Nasdaq 1,603.91 -11.84 -0.73% 
S&P 500 908.11 +11.33 +1.26% 
30-yr Bond 3.9690% -0.1190 

NYSE Volume 7,247,448,500 
Nasdaq Volume 3,177,970,000 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100    4,087.83    +46.94    +1.16%
DAX    4,519.70    -51.37    -1.12%
CAC 40    3,310.87    +12.69    +0.38%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225    8,460.98    -213.71    -2.46%
Hang Seng    13,760.49    -506.11    -3.55%
Straits Times    1,745.67    -75.46    -4.14%

http://biz.yahoo.com/ap/081023/wall_street.html
*Stocks end mixed as investors worry about economy*
Thursday October 23, 5:06 pm ET 
By Tim Paradis, AP Business Writer  
*Wall Street ends mixed as investors worry about economy's health, search for bargains *

NEW YORK (AP) -- Wall Street spent another session buffeted by volatility Thursday, this time closing mixed after investors wrestled with their fears about the economy but also looked for bargains after two days of selling. While the Dow Jones industrials and Standard & Poor's 500 index rose sharply, a downdraft in tech stocks left the Nasdaq composite index with a loss.

Buying came in spurts and then tended to quickly evaporate as investors fretted that the economy is either in a recession or headed for one. Investors tended to gravitate toward big-name stocks seen as safer bets after a two-day selloff that sliced nearly 750 points from the Dow.

"I think that people feel that it's got to stop sliding someplace and they're looking basically for bargains," said Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York. "The analogy I'm using right now is that you can buy a BMW at Toyota prices. But there is still concern that better bargains can be had."

With its gyrations, Wall Street is living up to predictions that trading will remain volatile as investors try to test whether the market has formed a bottom.

Manny Weintraub, president of Integre Advisors in New York, said several of the market's attempts to rally have been short-circuited by sellers who had awaiting an opportunity to cash out and that some investors looking to snap up inexpensive stocks are worried about getting burned by further declines.

"A lot of bargain hunters came in last week and now that money has been spent and they can't hunt twice," he said.

Wall Street's jitters came as investors tried to extract clues about where the economy is headed from a mix of corporate news.

Goldman Sachs Group Inc. is preparing to cut about 10 percent of its work force, according to a person briefed on the plan who requested anonymity because the company hadn't publicly disclosed details of the plan. Dow Chemical Co. said its quarterly profit rose 6 percent, helped by price hikes that offset a nearly 50 percent increase in raw materials and energy costs.

Meanwhile, Amazon.com Inc. lowered its revenue guidance for the year amid a weakening economy; the news helped pummel tech and small-cap stocks.

Weintraub said Amazon's forecast is the latest disappointment from the technology sector, following lackluster reports from eBay Inc. and Texas Instruments Inc. Some investors had hoped, apparently in vain, that the sector would sidestep some of the troubles hitting financial companies and other parts of the economy.

"As we go through earning season earnings are basically not great," Weintraub said.

A snapshot of the labor market signaled highlighted one of investors' worries about the fragility of the economy. The Labor Department reported Thursday that new applications for unemployment benefits rose 15,000 last week to a seasonally adjusted 478,000. That was slightly above analysts' estimates of 470,000. Jobless claims above 400,000 are considered a sign of recession.

Investors viewed the data as more evidence that the financial crisis is battering the economy and forcing companies to cut back.

Thomas J. Lee, U.S. equities strategist at JPMorgan Chase & Co. in New York, cautioned that Wall Street will need to rein in its sharp swings before some investors will feel confident enough to return.

"I don't think anyone can buy and sell stocks right now with conviction," he said.

The Dow rose 172.04, or 2.02 percent, to 8,691.25, after rising 277 points and falling by 276 points during the session. On Wednesday, the Dow lost 514 points as investors worried that the global economy is poised to weaken. That was on top of a 231-point loss Tuesday.

Broader stock indicators were mixed Thursday. The Standard & Poor's 500 index rose 11.33, or 1.26 percent, to 908.11, and the Nasdaq fell 11.84, or 0.73 percent, to 1,603.91.

The Russell 2000 index of smaller companies fell 12.05, or 2.40 percent, to 489.92.

While the major indexes were mixed, declining issues outnumbered advancers by about 5 to 3 on the New York Stock Exchange, where volume came to 1.7 billion shares.

"You're not getting the volume associated with a normal triple-digit move in the Dow," Fullman said. "We should be at 2 billion shares."

He said the volume levels indicate that many investors aren't willing to step into the market.

The credit markets again showed signs of thawing after locking up when Lehman Brothers Holdings Inc. declared bankruptcy in mid-September.

An auction of $988 million in debt from failed bank Washington Mutual Inc. fetched a substantially higher price than was seen for a similar auction of Lehman Brothers debt earlier in the month. The sale priced $988 million of WaMu debt at 57 cents for every $1 of debt sold compared with the 8.625 cents on the dollar that a $4.92 billion sale of Lehman debt garnered.

Besides indicating greater confidence in WaMu's debt, the auction also indicated that some investors are becoming more willing to wade into risky debt following a range of coordinated moves by governments around the world to build confidence in the credit markets.

But the improvement in credit markets, which is expected to help revive lending to businesses and consumers, will take time. A key bank-to-bank lending measure has show significant improvement. The rate on three-month loans in dollars -- known as the London Interbank Offered Rate, or Libor -- was unchanged at 3.54 percent. The rate fell to that level on Wednesday and is the lowest since Sept. 24.

While demand for short-term Treasury bills rose, yields are well above where they were last week. The three-month bill, regarded as the safest assets around, yielded 0.97 percent, down from 1.01 percent late Wednesday. Last week the yield was at 0.20 percent, indicating investors were willing to trade the slimmest of returns for a safe place to keep their money.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.63 percent from 3.60 percent late Wednesday.

The dollar was mixed against other currencies after jumping to multiyear highs Wednesday, while gold prices fell.

Light, sweet crude rose $1.09 to settle at $67.84 on the New York Mercantile Exchange. The contract fell to a 16-month low on Wednesday as an increase in U.S. crude and gasoline stocks fed beliefs that weakness in the economy is eroding demand for energy.

Among individual stocks, Amazon.com rose 33 cents at $50.32 after trading as low as $43.31.

Goldman Sachs fell $6.13, or 5.3 percent, to $108.58, while Dow Chemical rose $3.23, or 10.5 percent, to $24.43.

Blue chips in the Dow that drew buyers included Boeing Co., up $3.61, or 8.4 percent, at $46.52, and 3M Co., which rose $3.35, or 5.8 percent, to $61.54.

Overseas, Japan's Nikkei stock average fell 2.46 percent. Britain's FTSE 100 rose 1.16 percent, Germany's DAX index fell 1.12 percent, and France's CAC-40 rose 0.38 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The NYSE DOW closed LOWER -312.30	 points -3.59% on Friday October 24*
Sym Last........ ........Change..........
Dow	8,378.95	-312.30	-3.59%
Nasdaq	1,552.03	-51.88	-3.23%
S&P 500	876.77	-31.34	-3.45%
30-yr Bond	4.0870%	+0.1180

NYSE Volume	6,656,668,000
Nasdaq Volume	2,693,114,000


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,883.36	-204.47	-5.00%
DAX	4,295.67	-224.03	-4.96%
CAC 40	3,193.79	-117.08	-3.54%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,649.08	-811.90	-9.60%
Hang Seng	12,618.38	-1,142.11	-8.30%
Straits Times	1,600.28	-145.39	-8.33%

http://biz.yahoo.com/ap/081024/wall_street.html
*Stocks fall on belief global recession is at hand*
Friday October 24, 6:11 pm ET
By Tim Paradis and Sara Lepro, AP Business Writers
*Wall Street tumbles on growing belief that severe global recession is at hand; Dow falls 312*

NEW YORK (AP) -- Wall Street joined stock markets around the world in a huge sell off Friday, sending major market indexes to their lowest levels in more than five years on the belief that a punishing economic recession is at hand. A grim outlook from electronics maker Sony helped trigger the selling, and another bleak forecast from the automaker Daimler added momentum to the drop.

U.S. trading was dramatic and fractious, with the Dow Jones industrials falling more than 500 points soon after the opening bell. The blue chips followed the pattern of recent sessions, recovering ground only to fall sharply again, before ending the day with a loss of 312. All the major indexes fell more than 3 percent.

The pullback on Wall Street, while steep, wasn't as bad as some observers had feared after stocks plunged overseas in response to another round of grim corporate news. Sony's profit warning sent its shares tumbling in Japan and offered only the latest example that companies are girding for a slowing economy and a pullback among consumers worried about falling home prices and losses on their investments.

And in Germany, Daimler's stock fell sharply after the company reported lower third-quarter earnings and abandoned its 2008 profit and revenue forecast. That followed news in the U.S. late Thursday from Microsoft Corp., which issued a weaker-than-expected forecast for its fiscal second quarter, pointing to the economy; other big U.S. companies have scaled back their forecasts as they announced third-quarter earnings.

"People have been saying that we're in a recession. This is the realization," said Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York.

It is clear that many investors are convinced the world economy is headed for a severe downturn even as governments have raced to revive credit markets on the hope that a return of more normal lending levels by banks and other financial houses will fan economic activity.

But some say the recent pullbacks have been set off by forced selling, keeping some bargain-seeking traders from entering the market.

"There's nothing new going on," said Scott Bleier, president of market advisory service CreateCapital.com. "This is all about the unwinding of massive leverage."

Bleier attributed the declines to margin calls and investors in hedge funds and mutual funds cashing out. A margin call occurs when investors are forced to sell holdings, like stock, to raise cash at the demands of brokers.

"Market participants' fear is not that the economy is slowing," he said. "The fear is there is an endless supply of things for sale, regardless of price."

Steve Gross, principal at alternative investment and advisory firm Penso Capital Markets, said most large hedge funds have already slashed their positions. Instead, he sees a lack of demand: "There are no buyers at all."

Investors were nervous going into the session after U.S. stock futures -- the bets traders place on where the market will go -- fell so sharply before Friday's opening bell that selling halts were imposed.

By the close, the Dow fell 312.30, or 3.59 percent, to 8,378.95 after falling 504 in the early going. Still, the blue chips remained above 8,000; at its recent low of Oct. 10, the Dow traded down to 7,882.51 but it hasn't finished below that level since 2003.

Broader stock indicators also fell Friday. The S&P 500 index declined 31.34, or 3.45 percent, to 876.77, and the Nasdaq composite index fell 51.88, or 3.23 percent, to 1,552.03.

Friday's finish was the lowest for the Dow since April 25, 2003, when it ended at 8,306.35. For the S&P 500, it was the lowest ending since April 11, 2003, when the index finished at 868.30. It was the Nasdaq's lowest close since a May 23, 2003, finish of 1,510.09.

The Russell 2000 index of smaller companies ended Friday down 18.80, or 3.84 percent, at 471.12.

Declining issues outpaced advancers by about 5 to 1 on the New York Stock Exchange, where consolidated volume came to 6.45 billion shares compared with 7.05 billion shares traded Thursday.

Friday was the 79th anniversary of the day that, according to many market historians, the October 1929 stock market crash began. Selling began on Thursday, Oct. 24, and accelerated the following week on the days that have since become known as Black Monday and Black Tuesday, Oct 28 and 29.

For the week, the Dow fell 5.35 percent, the S&P 500 lost 6.78 percent and the Nasdaq fell 9.31 percent. The week's selling left the Dow down 40.9 percent from its Oct. 9, 2007, record close of 14,164.53, while the S&P 500 is off 44 percent from its peak of a year ago. The Nasdaq is down 45.7 percent.

The Dow hasn't had an up week since the week ended Sept. 12, while the S&P500 and Nasdaq last turned in a winning weekly performance the following week, which ended Sept. 19.

U.S. stock market paper losses came to about $800 billion for the week, according to the Dow Jones Wilshire 5000 Composite Index, which represents nearly all stocks traded in America.

Jason Weisberg, a New York Stock Exchange trader for Seaport Securities, contends the selling has been overdone.

"Technically we're way oversold," he said. "We have these downdrafts on very light volume. But all that being said, historically speaking this is all unprecedented."

The panicky feeling ahead of the opening bell came after Japan's Nikkei stock average fell a staggering 9.60 percent. In Europe, Germany's benchmark DAX index lost 4.96 percent, France's CAC40 dropped 3.54 percent while Britain's FTSE 100 sank 5 percent after the government said its gross domestic product fell 0.5 percent in the third quarter, putting the country on the brink of recession.

Demand for U.S. Treasurys remained high as investors sought safe places to put their money. The yield on the three-month bill, regarded as the safest asset around, fell to 0.82 percent from 0.94 percent late Thursday.

There were signs that credit markets continue to thaw but are doing so more slowly amid growing economic fears. The rate on three-month loans in dollars -- a key bank-to-bank lending benchmark known as the London Interbank Offered Rate, or Libor -- fell to 3.52 percent from 3.54 percent on Thursday.

The rates have fallen steadily for 10 days as confidence in the banking industry has been helped by government rescue measures. However, the improvements were smaller Friday on concerns about the health of the global economy.

"We've moved from credit market concerns to economic concerns and people really don't know what the impact on the economy is going to be, they don't know the full impact. The market abhors uncertainty," said Ben Halliburton, chief investment officer of Tradition Capital Management in Summit, N.J.

Gold futures briefly fell to their lowest level in 21 months Friday as the dollar strengthened and the drop in the world's stock markets led investors to sell commodities to offset massive losses in equities. Gold regained much of what it lost later in the day though prices remain down by about 20 percent since the start of the month.

Ordinarily, gold is seen as a safe-haven investment during market upheavals.

Other commodities declined. Light, sweet crude fell $3.69 to settle at $64.15 a barrel on the New York Mercantile Exchange. The sell-off, another sign that investors fear a severe recession, came despite OPEC's announcement that it will cut production by 1.5 million barrels a day to boost sagging prices.

The dollar has risen as a safety holding despite fears about the U.S. economy. Investors appear more worried about the stability of emerging markets. That's hurting the euro, for example, because Iceland, Hungary, Ukraine and Belarus are all in talks with the International Monetary Fund to discuss possible loans. Investors are also pulling money out of countries in Latin America and Asia amid worries about vulnerable countries.

Investors had been bracing for a rocky start on Wall Street after futures contracts for the Dow and the S&P 500 fell so low they triggered "circuit breakers," which froze selling until the market's 9:30 a.m. EDT open. That slide raised the possibility that these emergency breaks intended to prevent panic selling could be triggered during the regular session -- something that hasn't happened since 1997. But the Dow's decline was well short of the 10 percent, or 1,100-point, decline that would be needed to halt trading.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended at 9,514.37, down 403.02 points, or 4.24 percent, for the week. A year ago, the index was at 15,337.70.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street has ended another highly volatile session with a big last-minute loss as the market's stubborn worries about a protracted economic downturn and tight credit erased budding optimism about a housing sector recovery. The Dow Jones industrial average skidded 203 points, with almost all the decline coming in the last 10 minutes.

*The NYSE DOW closed LOWER -203.18 points -2.42%  on Monday October 27*
Sym Last........ ........Change..........
Dow 8,175.77 -203.18 -2.42% 
Nasdaq 1,505.90 -46.13 -2.97% 
S&P 500 848.92 -27.85 -3.18% 
30-yr Bond 4.1050% +0.0180 

NYSE Volume 5,608,561,000 
Nasdaq Volume 2,277,592,500 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 3,852.59 -30.77 -0.79% 
DAX 4,334.64 +38.97 +0.91% 
CAC 40 3,067.35 -126.44 -3.96% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 7,162.90 -486.18 -6.36% 
Hang Seng 11,015.84 -1,602.54 -12.70% 
Straits Times 1,600.28 closed for holiday 

http://biz.yahoo.com/ap/081027/wall_street.html
Stocks end lower as financials give up early gains
Monday October 27, 5:04 pm ET 
By Tim Paradis and Madlen Read, AP Business Writer  
Stocks end erratic day down on worries about credit, economy; banks give up early gains 


NEW YORK (AP) -- Wall Street has ended another highly volatile session with a big last-minute loss as the market's stubborn worries about a protracted economic downturn and tight credit erased budding optimism about a housing sector recovery. The Dow Jones industrial average skidded 203 points, with almost all the decline coming in the last 10 minutes.

The Street's back-and-forth moves were typical for a turbulent market that has seen many recent rallies evaporate -- particularly as hedge and mutual funds sell off even strong assets so they can meet investors' demands for their money back. These forced sell-offs tend to happen late in the day, when the funds figure out how much cash they'll need to meet redemptions.

But the market's anxiety also increases as the closing bell approaches, especially with growing concern about the spread of the financial crisis overseas. News from Asia and Europe tends to break overnight and before trading on Wall Street resumes in the morning.

"We were trading higher earlier on very light volume, but the buyers just couldn't gather enough momentum to keep it going," said Alfred E. Goldman, chief market strategist at Wachovia Securities. "When confidence is razor-thin, the nervous tension goes way up and bam -- the sellers take over."

"It's just an overall malaise about how bad the economic slump is going to be globally," he said.

That malaise grew particularly after credit ratings agency Moody's Investors Service in the last half-hour of trading Monday downgraded General Motors Corp. further into "junk" status, pointing to the sharp contraction of the U.S. auto market. Shares of GM, one of the 30 Dow components, sank 50 cents, or 8.4 percent, to $5.45.

Earlier, banks got a boost after the Treasury said it signed agreements with nine financial institutions to buy stock in the companies this week. An upbeat home sales report also gave the market support until late afternoon.

The Dow fell 203.18, or 2.42 percent, to 8,175.77 after earlier rising by as many as 220 points. Even before the late-day selloff, it was an incredibly volatile day for Wall Street -- the Dow crossed between positive and negative territory 60 times during the session.

Broader stock indicators showed even more sizable losses. The Standard & Poor's 500 index fell 27.85, or 3.18 percent, to 848.92, and the Nasdaq composite index fell 46.13, or 2.97 percent, to 1,505.90.

The Russell 2000 index of smaller companies fell 22.72, or 4.82 percent, to 448.40.

The waffling in the market came amid light trading volumes ahead of possible interest rate moves from central banks -- including the Federal Reserve, which is set to begin a two-day meeting Tuesday. The Fed is expected to lower its fed funds rate by a half-point to 1 percent on Wednesday. Investors are also optimistic that the European Central Bank is moving toward its own cut after President Jean-Claude Trichet said Monday such a step was "a possibility."

But while policymakers around the world have been trying to find a remedy for the fear of bad debt that has paralyzed parts of the credit markets in the past month, lending conditions have eased only slightly. Investors are worried that a drop-off in lending has damaged the economy.

The U.S. government is taking some of its first steps to steady the banking sector. The Treasury said it signed agreements with nine banks and will buy stock in the companies this week. The proceeds from the stock sales are intended to bolster the banks' balance sheets so they will begin more normal lending.

"Clearly, what's most important is that the funding crisis needs to be contained at this point," said Chris Orndorff, director of equity strategy at Payden & Rygel in Los Angeles. "The banks need to start taking on some more risks," he said. "I think it's going to take months."

Declining issues outnumbered advancers by about 4 to 1 on the New York Stock Exchange, where volume came to 1.34 billion shares.

Light, sweet crude fell 93 cents to settle at $63.22 per barrel on the New York Mercantile Exchange.

The gyrations in U.S. stocks have been sizable since the market's peak a year ago, but particularly since last month's bankruptcy of Lehman Brothers Holdings Inc. and the government rescue of insurer American International Group. With investors uncertain about the economy, the market appears to be bouncing along a rocky bottom after falling sharply earlier this month.

News that sales of new homes increased in September was a welcome surprise. While median home prices have dropped to the lowest level in four years, investors appeared pleased -- at least initially -- that the market was beginning to chip away at an inventory glut. The Commerce Department reported that sales of new single-family homes rose by 2.7 percent in September to a seasonally adjusted annual rate of 464,000 homes. Economists had expected sales would drop from August.

But home prices -- a big factor causing banks to tighten their lending standards -- are still falling. The median price of a new home declined by 9.1 percent from a year ago to $218,400, its lowest level since September 2004.

While most large banks ended the session lower, a few regional banks still finished higher after the Treasury began rolling out its investments. Fifth Third Bancorp. rose 40 cents, or 5 percent, to $8.47, First Horizon rose 94 cents, or 10.9 percent, to $9.58.

The biggest gainer in the Dow was Verizon, which rose $2.53, or 10.1 percent, to $27.61, after it reported that its third-quarter earnings rose 31 percent. Its wireless business revealed stronger-than-expected results.

Even with several pieces of welcome news, investors around the world remain worried about the prospects for economic expansion. A surge in the yen illustrated investors' nervousness about how much economic activity could slow. The yen is seen as a safe haven holding for investors who contend the Japanese economy will fare better in a global recession.

Greg Church, chief investment officer of Church Capital Management in Yardley, Pa., contends the markets likely will remain volatile as hedge funds and mutual funds step into the market to sell. He also expects that some skittish investors will look to sell their positions as rallies emerge but that the severity of the market's recent sell-off has left it overdue for a rally, even if it's only temporary.

"We probably are due for some type of a bounce. Bear market rallies can be beautiful things. I think we could get one of those things sooner than later," he said.

Investors uneasy about where the market is headed continued to propel demand for the safety of government debt. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.69 percent from 3.72 percent late Friday. The dollar was higher against most other major currencies, except the yen, while gold prices rose.

The yield on the three-month bill, regarded as the safest asset around, fell to 0.77 percent from 0.82 percent late Thursday.

A key bank-to-bank lending rate slipped Monday. The London Interbank Offered Rate, or Libor, on three-month loans in dollars dipped to 3.51 percent from 3.52 percent on Friday. While Libor has fallen steadily for over 10 days as confidence slowly returns to the banking system, investors remain skittish, particularly overseas.

The Nikkei fell 6.4 percent to its lowest level since October 1982, while Hong Kong's Hang Seng Index tumbled 12.7 percent, its lowest finish in more than four years and its biggest single-session drop since 1991.

In Europe, Britain's FTSE 100 fell 0.79 percent, Germany's DAX index rose 0.91 percent, and France's CAC-40 declined 3.96 percent. Stocks in Europe pulled well off their lows after Wall Street traded better than expected after Asia's selloff and after Trichet raised the prospect of an interest rate cut.


----------



## Aussiejeff

What a week for "sucker rallys" on the DJIA. Some real doozies here...


----------



## Aussiejeff

Of course, to compare now with what happened to the chart in 1929-1933 is chalk and cheese. Puts it all into perspective, eh? Makes me feel better already 

Break out the coldies in response!! :bier:


----------



## MR.

Finally, it's a positive day.

Dows up 8% with minutes to go.

Its about time!

http://finance.yahoo.com/q/bc?t=5d&l=on&z=m&q=l&p=&a=&c=^DJI&s=^dji


----------



## MR.

MR. said:


> Finally, it's a positive day.
> 
> Dows up 8% with minutes to go.
> 
> Its about time!
> 
> http://finance.yahoo.com/q/bc?t=5d&l=on&z=m&q=l&p=&a=&c=^DJI&s=^dji




Yanks!!!

What, did Buffet actually decide to buy or what?

closed 9068.3 up 10.92%

now that's news!


----------



## Aussiejeff

MR. said:


> Yanks!!!
> 
> What, did Buffet actually decide to buy or what?
> 
> closed 9068.3 up 10.92%
> 
> now that's news!





"Light blue touch paper and stand well back"


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street had another astounding advance Tuesday, with the Dow Jones industrials soaring nearly 900 points in their second-largest point gain ever as late-day bargain hunters stormed into the market. The Dow and the Standard & Poor's 500 index were each up nearly 11 percent.

*The NYSE DOW closed HIGHER +889.35 points +10.88% on Tuesday October 28*
Sym Last........ ........Change..........
Dow 9,065.12 +889.35 +10.88% 
Nasdaq 1,649.47 +143.57 +9.53% 
S&P 500 940.51 +91.59 +10.79% 
30-yr Bond 4.1720% +0.0670 

NYSE Volume 7,231,232,500 
Nasdaq Volume 2,853,352,250 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 3,926.38 +73.79 +1.92% 
DAX 4,823.45 +488.81 +11.28% 
CAC 40 3,114.92 +47.57 +1.55% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 7,621.92 +459.02 +6.41% 
Hang Seng 12,596.29 +1,580.45 +14.35% 
Straits Times 1,666.49 +66.21 +4.14% 

http://biz.yahoo.com/ap/081028/wall_street.html
*Dow jumps nearly 900 as investors seek bargains*
Tuesday October 28, 5:25 pm ET 
By Tim Paradis, AP Business Writer  
*Dow jumps nearly 900 points as bargain hunters grab stocks in anticipation of a Fed rate cut *

NEW YORK (AP) -- Wall Street had another astounding advance Tuesday, with the Dow Jones industrials soaring nearly 900 points in their second-largest point gain ever as late-day bargain hunters stormed into the market. The Dow and the Standard & Poor's 500 index were each up nearly 11 percent.

There didn't appear to be any one catalyst for the surge that saw the Dow nearly double its gain in the last hour of trading. Many analysts said investors were grabbing up stocks in the belief that the market had fallen too far in recent sessions; the Dow had dropped 500 points in two days. Some said buying early in the day came from anticipation of an interest rate cut Wednesday by the Federal Reserve, and the market just followed its recent pattern of building on its gains or losses in the last minutes of the session.

"There is nothing fundamental that came out today or yesterday that would take it up or down. We're all groping for something meaningful to talk about," said Bob Andres, chief investment strategist at Portfolio Management Consultants. "The market is exhausted from going down."

But given the relentless volatility in the market -- out of 20 trading days this month, there have been only two that didn't see the Dow close up or down in triple digits -- no one expects that the market is now headed higher for good. After Wall Street's devastating losses that slashed 2,400 points off the Dow in eight sessions, market veterans warned that the recovery would rocky, including huge gains followed by huge declines.

"I don't think it will be a sustained move," said Matt King, chief investment officer at Bell Investment Advisors, of Tuesday's surge.

It was clear that investors wanted to buy -- they looked past news of a sharp drop in consumer confidence early in the session. The Conference Board said its index of consumer confidence has fallen to 38 in October, well below the 51 analysts expected.

According to preliminary calculations, the Dow rose 889.35, or 10.88 percent, to 9,065.12. That was its second-largest point gain, coming after the 936 points the Dow jumped on Oct. 13.

The Dow was up 456 points at 3 p.m. and rose as much as 906.31 before edging back.

The gains in the 30 blue chip stocks were stunning -- Alcoa Inc. was up 19.25 percent, while Verizon Communications Inc. rose 14.63 percent. Even oil stocks shot higher, withstanding another drop in the price of crude -- Exxon Mobil Corp. and Chevron Corp. each rose more than 13 percent.

Broader stock indicators also surged. The Standard & Poor's 500 index rose 91.59, or 10.79 percent, to 940.51, and the Nasdaq composite index rose 143.57, or 9.53 percent, to 1,649.47.

The Russell 2000 index of smaller companies rose 34.15, or 7.62 percent, to 482.55.

Advancing issues outnumbered decliners by more than 4 to 1 on the New York Stock Exchange, where volume came to a moderate 1.72 billion shares compared with 1.34 billion shares traded Monday.

"I guess we're just coming out of this oversold situation. I think you've got a lot of players on the sidelines," said Dan Demming, trader at Stutland Equities in Chicago. "There's just no one standing in the way right now."

He contends investors are also anticipating an interest rate cut. The Fed is expected to cut its target fed funds rate by half a point to 1 percent.

Bond prices were mixed as some investors looked for the safety of government debt. The yield on the three-month Treasury bill, regarded as the safest investment around and an indicator of investor sentiment, fell to 0.76 percent from 0.77 percent Monday. The lower yield indicates an increase in demand. Meanwhile, the yield on the benchmark 10-year Treasury note rose to 3.86 percent from 3.69 percent late Monday.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude settled down 49 cents to settle at $62.73 a barrel on the New York Mercantile Exchange.

Investors worldwide snapped up stocks after posting huge declines Monday on economic worries. Japan's Nikkei stock average jumped 6.41 percent and Hong Kong's Hang Seng index surged 14.4 percent -- its biggest gain in 11 years -- a day after plunging more than 12 percent. Britain's FTSE 100 rose 1.92 percent, Germany's DAX index jumped 11.3 percent, and France's CAC-40 rose 1.55 percent.

The disruptions in the normal flow of the credit markets over the past six weeks have produced widespread worries about the economy's ability to avoid a severe downturn. The evaporation in lending is making it difficult and more expensive for businesses and consumers to get loans.

But Monday saw the start of the Fed's efforts to revive lending in the commercial paper market, where companies turn for short-term loans. General Electric Co., for example, has said it would borrow money from the government. The Treasury has also begun to implement part of the government's $700 billion financial bailout plan by investing directly in some banks to give them a much-need source of fresh cash.

The government's extraordinary moves to help support borrowing and restore market confidence come as unease about the economy has buffeted trading. Some of Wall Street's gyrations since the mid-September bankruptcy filing of Lehman Brothers Holdings Inc. and the subsequent seizing up of the credit markets are tied to massive selling by hedge funds and mutual funds trying to raise cash for nervous investors.

On Monday stocks fell sharply in the final minutes of the session, with the Dow giving up 200 points. Tuesday's gain seemed as puzzling to some observers.

"It makes just as much sense as yesterday's 200 point drop in 10 minutes," said Arthur Hogan, chief market analyst at Jefferies & Co. He did say, however, that there was a "smattering of good news" that appeared to help boost stocks Tuesday.

One was the dollar's massive rally against the yen, Hogan said, a signal that the "indiscriminate selling" by hedge funds might be hitting a plateau. Hedge funds often borrow yen to fund investments in higher-yielding currencies; recently, they've been forced to sell assets raise cash, so they have been buying back yen and boosting its value. That weighed on global markets on Monday.

The dollar leaped to 97.68 Japanese yen in late New York trading Tuesday from 93.93 yen late Monday.

"Was there enough good news to warrant a 10 percent rally? No," Hogan said. "But you put things in perspective -- this is a rally amidst a very difficult market."

Wall Street's jump came as fallout from credit market troubles popped up around the globe. Iceland's central bank on Tuesday raised its key interest rate by an enormous 6 percentage points to 18 percent. Iceland has seen its currency tumble after its banking sector collapsed this month. Prime minister Geir Haarde said separately on Tuesday that the country will require $4 billion in financial support in addition to the $2 billion loan package announced by the IMF.

Meanwhile, Germany's foreign minister said Tuesday that Pakistan must secure a loan from the IMF within a week to avoid sliding into a financial crisis.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street received the interest rate cut it wanted, but still turned in a baffling late-day performance Wednesday, shooting higher and then skidding lower in the very last minutes of trading as some investors rushed to cash in profits after the previous session's big advance. The major indexes ended the day mixed, with the Dow Jones industrials falling 74 points -- only the third time in October that the blue chips had just a double-digit close.


*The NYSE DOW closed LOWER -74.16 points -0.82% on Wednesday October 29*
Sym Last........ ........Change..........
Dow 8,990.96 -74.16 -0.82% 
Nasdaq 1,657.21 +7.74 +0.47% 
S&P 500 930.09 -10.42 -1.11% 
30-yr Bond 4.2380% +0.0660 

NYSE Volume 7,193,214,500 
Nasdaq Volume 2,790,546,000 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,242.54 +316.16 +8.05% 
DAX 4,808.69 -14.76 -0.31% 
CAC 40 3,402.57 +287.65 +9.23% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 8,211.90 +589.98 +7.74% 
Hang Seng 12,702.07 +105.78 +0.84% 
Straits Times 1,671.20 +4.71 +0.28% 

http://biz.yahoo.com/ap/081029/wall_street.html
*Stocks end mixed in late slide after Fed rate cut*
Wednesday October 29, 5:42 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks end mixed in late slide after Federal Reserve cuts interest rates by half a point *

NEW YORK (AP) -- Wall Street received the interest rate cut it wanted, but still turned in a baffling late-day performance Wednesday, shooting higher and then skidding lower in the very last minutes of trading as some investors rushed to cash in profits after the previous session's big advance. The major indexes ended the day mixed, with the Dow Jones industrials falling 74 points -- only the third time in October that the blue chips had just a double-digit close.

Analysts were divided over why the market turned around so abruptly. Some cited reports of a lackluster profit forecast at General Electric Co. -- a Dow component that dropped nearly 4 percent from its late-session high -- and others contended investors were simply looking to cash in gains after the Federal Reserve's decision to lower its fed funds rate by a half-point to 1 percent.

"It was a panic sell in the last two minutes," said Dave Rovelli, managing director of U.S. equity trading at Canaccord Adams in New York, referring to reports that GE was aiming at 2009 profits to be little changed from 2008. The reports were subsequently called into question, and a GE spokesman said the statements were taken out of context.

Because of the last-hour confusion, it was likely that it would take the opening of trading on Thursday to get a better read on how the market feels about the Fed's rate cut and its accompanying economic statement.

The market waffled while it was still digesting the Fed's moves, then advanced for most of the final hour of trading. Until shortly before the close, it looked like Wall Street was feeling more confident about the economy and would extend its huge rally from Tuesday, which propelled the Dow Jones industrials up nearly 900 points.

Policymakers spelled out a weakening of economic conditions in the U.S. and abroad, citing first a drop in spending by American consumers. The Fed also reiterated that it expects government steps, including its own efforts to increase liquidity, to improve credit market conditions and the economy over time.

Bruce McCain, chief investment strategist at Key Private Bank in Cleveland, said the Fed's overall tone conveyed it regards the economic troubles as somewhat typical of a weak economy and not the kind of intractable problems that signal a deep recession is imminent.

"They more or less indicated elevated concerns about the economy but nothing in it suggests any real panic but that this is just one more step in their program to restore the financial system to complete functioning."

But the final hour of trading on Wall Street over the past month has seen turnarounds in sentiment as well as prices, and the late-session volatility that has become the norm was in force again Wednesday.

"We set ourselves up in the last hour with a golden opportunity to lock in profits," said Ryan Larson, senior equity trader at Voyageur Asset Management, a subsidiary of RBC Dain Rauscher.

He said that very late in the day, more investors were putting a more downbeat spin on the Fed's statement, which had indicated policymakers are willing to lower the fed funds rate below 1 percent if necessary. Traders started thinking, "if they're willing to go under 1 percent, there must be serious problems that we don't know about yet," Larson said.

The Dow was up as much as 298 points in the last quarter hour of the session, giving it a two-day gain of more than 1,187 points, when it began to slide. It closed down 74.16, or 0.82 percent, at 8,990.96. During the 21 trading days so far this month, the Dow has had closes of less than 100 points only twice -- on Oct. 1 and Oct. 14; the month has seen unprecedented volatility, with the blue chips recording their largest ever advance, 936 points, and their largest ever decline, 778 points.

Broader stock indicators were mixed. The S&P 500 index fell 10.42, or 1.11 percent, to 930.09, and the Nasdaq composite index advanced 7.74, or 0.47 percent, to 1,657.21.

Advancers outnumbered decliners by about 2 to 1 on moderate volume of 1.62 billion shares on the New York Stock Exchange.

Some traders expressed frustration by the market's finish.

"You cannot have moves like this and have any sort of investor confidence," said Joe Saluzzi, co-head of equity trading at Themis Trading LLC.

The credit markets had a lukewarm response to the Fed move. The yield on the three-month Treasury bill, regarded as the safest investment around and an indicator of investor sentiment, fell to 0.55 percent from 0.74 percent Tuesday. A drop in yield indicates an increase in demand. Meanwhile, the yield on the benchmark 10-year Treasury note rose to 3.86 percent from 3.84 percent late Tuesday.

It was clear from Wednesday's trading that Wall Street is nowhere near moving away from the volatility that has devasted stock prices this month. And many investors are hesitant to re-enter the market after being hit hard -- even with Tuesday's jump, the three major stock indexes are still down more than 30 percent for the year, battered since last month's freeze-up of the credit markets. The troubles with the credit markets have made it harder and more expensive for businesses and consumers to get loans.

While signs have emerged that the government action to revive credit markets is starting to work, investors remain skittish over the effects of the prolonged credit freeze on the economy, which relies on lending to feed growth.

Investors are hoping the latest rate cut will complement the government's still-unfolding efforts to aid the commercial paper market, where companies turn for short-term loans, and the banks themselves. The Treasury this week is investing directly in banks, hoping the cash will make them more likely to issue loans.

Wall Street's rally Tuesday helped lift trading in most markets overseas. Japan's Nikkei stock average jumped 7.74 percent. Britain's FTSE 100 rose 8.05 percent, Germany's DAX index slipped 0.31 percent, and France's CAC-40 rose 9.23 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street showed some welcome signs of stability Thursday, taking a downbeat gross domestic product report in stride and driving the Dow Jones industrial average up nearly 190 points in relatively calm trading. Even the last hour of the session, lately a period of turbulent activity, was comparatively quiet.

The market that a week ago was reeling from fears about recession was more composed after the Commerce Department's report that GDP fell at an annual rate of 0.3 percent during the third quarter. Analysts expected a 0.5 percent decline in GDP, the broadest measure of economic growth or contraction, but while the report was better than expected, it still pointed to an economy that is shrinking.

The NYSE DOW closed HIGHER +189.73 points	+2.11% on Thurday October 30
Sym Last........ ........Change..........
Dow	9,180.69	+189.73	+2.11%
Nasdaq	1,698.52	+41.31	+2.49%
S&P 500	954.09	+24.00	+2.58%
30-yr Bond	4.2840%	+0.0460

NYSE Volume	6,276,917,000
Nasdaq Volume	2,554,893,750

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,291.65	+49.11	+1.16%
DAX	4,869.30	+60.61	+1.26%
CAC 40	3,407.82	+5.25	+0.15%

[B]Asia[/B]
Symbol..... Last...... .....Change.......
Nikkei 225	9,029.76	+817.86	+9.96%
Hang Seng	14,329.85	+1,627.78	+12.82%
Straits Times	1,801.91	+130.71	+7.82%

http://biz.yahoo.com/ap/081030/wall_street.html
*Stocks rise after better-than-expected GDP report*
Thursday October 30, 5:47 pm ET
By Tim Paradis, AP Business Writer
*Wall Street closes higher after GDP report in relatively calm trading; Dow rises nearly 190*

NEW YORK (AP) -- Wall Street showed some welcome signs of stability Thursday, taking a downbeat gross domestic product report in stride and driving the Dow Jones industrial average up nearly 190 points in relatively calm trading. Even the last hour of the session, lately a period of turbulent activity, was comparatively quiet.

The market that a week ago was reeling from fears about recession was more composed after the Commerce Department's report that GDP fell at an annual rate of 0.3 percent during the third quarter. Analysts expected a 0.5 percent decline in GDP, the broadest measure of economic growth or contraction, but while the report was better than expected, it still pointed to an economy that is shrinking.

It's premature to say the market's volatility is over -- most analysts expect trading to remain erratic for many months, and some believe investors will eventually test the lows that were reached on Oct. 10, when the Dow traded as low as 7,882.51. But Thursday's trading session was the most placid in weeks, a sign that the market might be in the process of bottoming, analysts say. The Dow was only briefly in negative territory, and traded in a range of less than 300 points -- well below the 400- and 500-point swings that have become commonplace.

"It does look like the market is taking a tentatively better tone today," said Alan Gayle, senior investment strategist, director of asset allocation for RidgeWorth Capital Management. "Pessimism and skepticism have become the dominant mode of thinking. And that's usually when I think that the market is more ripe for a rebound."

The market did not erupt into frantic buying or selling in the last half-hour of trading -- a move that has become almost expected at the end of every session as big funds tried to raise cash to meet investors' calls for their money back, or rushed to cover their short positions. The last hour saw the Dow move in a range of 206 points, compared with a 370-point swing in the last quarter-hour of Wednesday's session.

Even though corporate earnings reports and outlooks have not been strong in recent weeks, there is a growing sense that business is not at a standstill. On Thursday, Exxon Mobil Corp. adhered to its five-year capital spending forecast, a day after Starbucks Corp.'s CEO Howard Schultz said it appears the coffee retailer's store traffic may have already bottomed out. And CVS Caremark Corp. said Thursday its third-quarter earnings rose 7 percent as its retail pharmacy revenue improved.

"There's the idea that life goes on, and will go on," said Richard E. Cripps, chief market strategist for Stifel Nicolaus, noting that the daily trading range Thursday for the Standard & Poor's 500 index was about half its October average. "The market sort of inhaled, and it was waiting to exhale -- and you're seeing that now."

The Dow rose 189.73, or 2.11 percent, to 9,180.69.

Broader stock indicators also finished higher. The S&P 500 index rose 24.00, or 2.58 percent, to 954.09, while the Nasdaq composite index rose 41.31, or 2.49 percent, to 1,698.52.

The Russell 2000 index of smaller companies rose 23.30, or 4.75 percent, to 514.18.

Advancing issues outnumbered decliners by about 5 to 1 on the New York Stock Exchange, where volume came to a light 1.38 billion shares.

The Dow is still down 15 percent for the month of October, following the mid-September bankruptcy of Lehman Brothers Holdings Inc. that contributed to a freeze in the credit markets, and in turn, devastating losses on Wall Street.

Even though Thursday's move was not as large and immediate a boost to people's stock portfolios as Monday's 889-point advance in the Dow, analysts were more encouraged by Thursday's 189-point gain, saying it displayed less frenzy, and more deliberation and caution.

Still, the credit markets showed signs that investors are still quite cautious, with short-term government debt still in demand. The yield on the three-month Treasury bill, regarded as the safest investment around and an indicator of investor sentiment, fell to 0.37 percent from 0.55 percent Wednesday. A drop in yield indicates an increase in buying. Meanwhile, the yield on the benchmark 10-year Treasury note rose to 3.97 percent from 3.86 percent late Wednesday.

Wall Street is likely to remain worried for some time about how much the economy will slow and whether the stock market's pullback adequately accounts for the an ancipated ongoing drop in corporate profits. If companies' outlooks for the coming quarters are more negative than the market expects, another wave of volatility and selloffs could follow.

But according to Michael Strauss, chief economist at Commonfund, investors were relieved that the GDP figures weren't worse and that, more broadly, investors are drawing some confidence from the government's array of efforts to revive the credit markets as boding well for a weak economy. On Wednesday, the Federal Reserve lowered the key federal funds rate by a half-point to 1 percent in an effort to make borrowing cheaper and, in turn, boost spending.

"I think it's sort of, 'What do you have to do to get someone back from cardiac arrest?' You have to shock them pretty hard and sometimes you have to shock them a couple of times. I think that's what going on here," Strauss said, referring to steps like the Fed's rate cuts and government cash injections in banks, which began this week.

Strauss contends the programs, most of which have yet to take effect, are creating some appetite for stocks that have been pounded down this month.

"I think we're seeing that transition from 'don't buy' to 'maybe we buy something,'" he said.

On Thursday, the dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude fell $1.54 to settle at $65.96 per barrel on the New York Mercantile Exchange.

Overseas, Japan's Nikkei stock average jumped 9.96 percent. Britain's FTSE 100 rose 1.16 percent, Germany's DAX index rose 1.26 percent, and France's CAC-40 rose 0.15 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The stock market closed out a horrendous October, its worst month in 21 years, with a big advance Friday as more investors took chances on stocks turned into bargains by waves of intense selling. The advance -- which gave the market its first back-to-back gains in more than a month -- fed hopes that Wall Street has indeed found a bottom.

The Dow Jones industrials rose 144 points on the day but ended the month down 14.1 percent, while the broader Standard & Poor's 500 index lost 16.9 percent during October as the stock market fell victim to investors' anguish over frozen credit markets and what looked like an inevitable recession.


The NYSE DOW closed HIGHER +144.32 points	+1.57% on Friday October 31
Sym Last........ ........Change..........
Dow	9,325.01	+144.32	+1.57%
Nasdaq	1,720.95	+22.43	+1.32%
S&P 500	968.75	+14.66	+1.54%
30-yr Bond	4.3690%	+0.0850

NYSE Volume	6,373,314,000
Nasdaq Volume	2,437,126,250

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,377.34	+85.69	+2.00%
DAX	4,987.97	+118.67	+2.44%
CAC 40	3,487.07	+79.25	+2.33%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,576.98	-452.78	-5.01%
Hang Seng	13,968.67	-361.18	-2.52%
Straits Times	1,794.20	-7.71	-0.43%

*Stocks End Worst Month in 21 Years on High Note*
http://biz.yahoo.com/ap/081031/wall_street.html
*Stocks advance to add to week's large gains*
Friday October 31, 5:39 pm ET
By Tim Paradis, AP Business Writer
*Wall Street rallies, adds to week's big gain, as investors look past drop in consumer spending*

NEW YORK (AP) -- The stock market closed out a horrendous October, its worst month in 21 years, with a big advance Friday as more investors took chances on stocks turned into bargains by waves of intense selling. The advance -- which gave the market its first back-to-back gains in more than a month -- fed hopes that Wall Street has indeed found a bottom.

The Dow Jones industrials rose 144 points on the day but ended the month down 14.1 percent, while the broader Standard & Poor's 500 index lost 16.9 percent during October as the stock market fell victim to investors' anguish over frozen credit markets and what looked like an inevitable recession.

But the month did end on a far more upbeat note than anyone might have expected at the height of investors' despair just weeks ago. The Dow was up 11.3 percent for the week, its best weekly performance in 34 years, while the S&P 500 index rose 10.5 percent -- a sign of stability that followed a growing sense that the series of government moves to unlock the credit markets would indeed help the economy move toward recovery.

Investors who have become used to bad economic news dealt calmly Friday with data showing a drop in consumer spending. Another reason for the advance: Mutual funds that dumped stocks furiously as the end of their fiscal year approached were finished with their selling.

While the market capped a terrible month with a strong week, it likely will need to put the presidential election next week behind it and focus on the October employment report due next Friday before committing to a direction. The jobs report should provide some insight into how long and how severe the economic downturn could be.

The market is "settling into a little bit of a holding pattern" ahead of the election and jobs report, said Craig Peckham, market strategist at Jefferies & Co. "The fear level has clearly subsided, but there's still a pervasive tone of unease."

The Dow rose 144.32, or 1.57 percent, to 9,325.01 after rising as much as 274 and falling 62.

Broader stock indicators also advanced. The S&P 500 index rose 14.66, or 1.54 percent, to 968.75, while the Nasdaq composite index rose 22.43, or 1.32 percent, to 1,720.95.

The Russell 2000 index of smaller companies rose 23.34, or 4.54 percent, to 537.52.

Advancing issues outnumbered decliners by about 5 to 2 on the New York Stock Exchange, where volume came to a moderate 1.57 billion shares. Lighter volume can raise questions about the conviction behind the market's moves.

October marked the Dow's worst percentage loss since 1987. But the 11.3 percent gain for the week -- mostly from an 889-point surge on Tuesday ahead of the Federal Reserve's second interest rate cut of the month on Wednesday -- gave the Dow its best weekly performance since Oct. 11, 1974.

Still, the market's stats during the month of October were unnerving:

-- Paper losses in U.S. stocks came to $2.5 trillion for the month, according to the Dow Jones Wilshire 5000 Composite Index, which represents nearly all stocks traded in America. The 17.7 percent decline was the worst since the 23 percent drop in October 1987.

-- During the week of Oct. 10, the Dow plunged 1,874.19 points, or 18.2 percent to finish at 8,451.19, its lowest close since April 2003. The week's decline accounted for half of the blue chips' losses for the entire year.

-- The Dow fell for eight straight sessions -- the longest losing streak since the eight days of declines following the Sept. 11, 2001, terror attacks, when the blue chips lost 1,038.12, or 10.8 percent. It lost a staggering 2,400 points, or 22.1 percent.

-- The market's volatility was so intense that there were just three days during the month that the Dow didn't rise or fall in triple digits. The Dow set new records for one-day point gains, 936.42 and 889.35, and for one-day point losses, 777.68 and 733.08.

The stock market began the month anguishing over the House of Representative's rejection of the government's plan to bail out the nation's financial system -- a program made necessary by the paralysis of the credit markets following the failure of Lehman Brothers Holdings Inc. But the ultimate passage of the plan gave the market no lasting joy -- it was overshadowed by the market's intense fears of a prolonged and deep recession, and the volatility and heavy selling that marked the month continued.

It was only after the government decided to invest money into the nation's big banks that the market began to calm -- there were signs that lending was starting to ease. There were still waves of selling, some of them due to hedge and mutual funds unloading their shares at the end of their fiscal year, but by this week, signs were emerging that Wall Street was righting itself.

But the week's relative stability offered investors some calm. And their reaction to economic data also showed a decrease in some of their anxiety. The Commerce Department said personal spending fell by 0.3 percent last month, as expected, the biggest decline since June 2004. Combined with flat readings in both July and August, it led to the worst quarterly performance in 28 years.

The Chicago Purchasing Managers Index, a measure of manufacturing activity, fell to a reading of 37.8 -- much worse than the 48.0 figure that analysts anticipated. But the University of Michigan's consumer sentiment data came in at 57.6, slightly better than the 57.5 expected.

Alongside the unsurprisingly downbeat readings, investors also considered whether government help for struggling homeowners might be able to help stabilize the housing market and alleviate a worry for many homeowners, even those not behind on mortgage payments.

Federal Reserve Chairman Ben Bernanke, speaking by satellite to a Berkeley, Calif., conference said the housing finance system will require better safeguards to allow it to function during times of strain in the market. He outlined a number of possible ways to structure housing finance in the future, though he did not indicate his preferences.

The Bush administration is mulling a proposal that would help around 3 million homeowners avoid foreclosure by having the government guarantee billions of dollars worth of distressed mortgages. It could include changes to loans that would lower interest rates for a five-year period.

Treasury demand let up slightly as stocks rose. The three-month Treasury bill, considered one of the safest assets around, yielded 0.45 percent, higher than 0.37 percent late Thursday. A higher yield translates to decreased demand. The 10-year Treasury note's yield was 3.97 percent, unchanged from late Thursday.

The dollar was mixed against other major currencies. Gold prices declined.

Crude oil fell $1.35 to $64.61 a barrel on the New York Mercantile Exchange.

Overseas, Japan's Nikkei stock average fell 5.01 percent. Britain's FTSE 100 rose 2.01 percent, Germany's DAX index rose 2.44 percent, and France's CAC-40 rose 2.33 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street ended the calmest session in recent memory with a narrowly mixed performance Monday as investors looked past a weak reading on the manufacturing sector and focused on the election.

Before finishing essentially flat, the Dow Jones industrials moved in a range of just over 130 points -- well below October's average daily swing of 594. While trading was quiet, including the often-volatile final hour, the calm doesn't necessarily mean stocks have carved a definitive bottom; analysts said investors weren't making big moves ahead of the election.

*The NYSE DOW closed LOWER -5.18 points	-0.06% on Monday Novemeber 3 *
Sym Last........ ........Change..........
Dow	9,319.83	-5.18	-0.06%
Nasdaq	1,726.33	+5.38	+0.31%
S&P 500	966.30	-2.45	-0.25%
30-yr Bond	4.3210%	-0.0480

NYSE Volume	4,506,830,500
Nasdaq Volume	1,809,306,250

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,443.28	+65.94	+1.51%
DAX	5,026.84	+38.87	+0.78%
CAC 40	3,527.97	+40.90	+1.17%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,576.98 closed for holiday
Hang Seng	14,344.37	+375.70	+2.69%
Straits Times	1,883.75	+89.55	+4.99%

http://biz.yahoo.com/ap/081103/wall_street.html

*Stocks end quiet session mixed ahead of election*
Monday November 3, 5:01 pm ET
By Tim Paradis, AP Business Writer
*Stocks end quiet session mixed ahead of election; investors overlook weak manufacturing data*

NEW YORK (AP) -- Wall Street ended the calmest session in recent memory with a narrowly mixed performance Monday as investors looked past a weak reading on the manufacturing sector and focused on the election.

Before finishing essentially flat, the Dow Jones industrials moved in a range of just over 130 points -- well below October's average daily swing of 594. While trading was quiet, including the often-volatile final hour, the calm doesn't necessarily mean stocks have carved a definitive bottom; analysts said investors weren't making big moves ahead of the election.

Stocks showed no lasting impact from the Institute for Supply Management report that its measure of U.S. manufacturing dropped last month to the lowest level since September 1982 as credit conditions tightened and disruptions remained from Hurricane Ike. The trade group said its index of manufacturing activity fell to 38.9 from 43.5 in September, well below the 41.5 economists predicted, according to Thomson/IFR.

A separate report showed construction spending fell by a smaller-than-expected amount in September as a rebound in nonresidential activity helped offset further weakness in home building. The Commerce Department said construction spending fell by 0.3 percent in September, less than the 0.8 percent decline many economists expected.

Major auto companies reported weak sales for the month of October on Monday as tight credit and nervousness about the economy kept customers away from showrooms. General Motors Corp.'s U.S. sales plunged 45 percent, Ford Motor Co.'s sales fell 30 percent, while Toyota Motor Corp.'s dropped 23 percent.

The data support the growing belief that the economy is in recession, hurt by a drop in lending and slower overall spending. But with the Dow having tumbled more than 14 percent in October -- its worst month in 21 years -- the market priced in a significant falloff in economic activity. Wall Street must now determine whether the selloff in stocks is adequate, not enough or overdone.

Stephen Massocca, co-chief executive of Pacific Growth Equities, said the economic readings weren't a surprise given the hits the economy has taken from the evaporation of lending since September. He said Wall Street's tepid reaction also reflects the market's process of forming a bottom after its selloff. Investors are also waiting to make big bets until after the election, he said.

In addition, the fiscal year for mutual funds ended Friday, removing one source of selling pressure from the market. Some funds had been selling ahead of Oct. 31 for tax purposes.

"What we've seen was a rally last week taking a dire depression off the table, and I think now what we have is a severe recession," he said. "By and large, the economy is bad but it's not as bad as many people think it is. There are still people going to work every day.

"With the election tomorrow, obviously people probably want to wait and see what happens there. I think that's probably holding people back," Massocca said.

According to preliminary calculations, the Dow Jones industrial average fell 5.18, or 0.06 percent, to 9,319.83.

Broader stock indicators were mixed. The Standard & Poor's 500 index fell 2.45, or 0.25 percent, to 966.30, while the Nasdaq composite index rose 5.38, or 0.31 percent, to 1,726.33.

The Russell 2000 index of smaller companies rose 0.98, or 0.18 percent, to 538.50.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where volume came to a light 1.02 billion.

The quiet session wasn't a surprise as many investors sat on the sidelines ahead of the election. Many analysts have said that in general, neither candidate is more favored than the other on Wall Street, but investors are eager to put the uncertainty behind them.

John Dorfman, portfolio manager of the Dorfman Value Fund, noted that even with a difficult economy the market has priced in a tough recession.

"I think we are groping for a bottom here and there is often a relief really after the election is resolved," he said.

Given how far the stock market has already tumbled, some analysts believe the market is showing signs of bottoming out but that volatility likely will remain. Last month, for all its problems, did end with a positive tone, thanks in large part to weeks of gradual improvement in the tight credit markets, but also because mutual funds were finished with selling at the end of their fiscal year. The Dow added 11.3 percent last week, its best weekly performance in 34 years, while the S&P 500 index climbed 10.5 percent.

But Craig Peckham, market strategist at Jefferies & Co., remains cautious. He said the market is still trying to determine how long the slowdown will last and if it's longer than normal slowdowns, which he suspects.

"There continues to be risk to equity values particularly if we have a long-term downturn," said. "I think we probably do end up bouncing around for a while and I think real conviction to the upside or the downside won't come until people get better visibility on 2009."

The key bank-to-bank lending rate known as Libor was unchanged with Friday's rate of 3.03 percent for three-month dollar loans. A fall in the London Interbank Offered Rate indicates that banks are more willing to lend to one another.

Investors' demand for short-term government debt remained high, however, a sign that they are still cautious. The yield on the three-month Treasury bill, seen as one of the safest assets around, rose only slightly to 0.45 percent from 0.43 percent Friday. A low yield indicates high demand.

The yield on the benchmark 10-year Treasury note fell to 3.92 percent from 3.96 percent late Friday.

The dollar rose against most other major currencies. Gold prices also rose.

Light, sweet crude fell $3.87 to settle at $63.91 a barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 rose 1.51 percent, Germany's DAX index rose 0.78 percent, and France's CAC-40 advanced 1.17 percent. Hong Kong's Hang Seng Index climbed 2.69 percent. Japan's stock market was closed for a holiday.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors believing that Wall Street is on the verge of a yearend rally piled into the market Tuesday, brushing off more weak economic data while they scarfed up stocks and propelled the Dow Jones industrials up 300 points to its highest close in four weeks.

It was the biggest Election Day rally for the Dow, topping the 1.2 percent gain seen in 1984 when Ronald Reagan defeated Walter Mondale. Prior to 1980, the market was closed on Election Day.

*The NYSE DOW closed HIGHER +305.45 points +3.28%  on Tuesday Novmember 4*
Sym Last........ ........Change..........
Dow 9,625.28 +305.45 +3.28% 
Nasdaq 1,780.12 +53.79 +3.12% 
S&P 500 1,005.75 +39.45 +4.08% 
30-yr Bond 4.2220% -0.0990 

NYSE Volume 5,598,237,000 
Nasdaq Volume 2,347,218,500 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,639.50 +196.22 +4.42% 
DAX 5,278.04 +251.20 +5.00% 
CAC 40 3,691.09 +163.12 +4.62% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,114.60 +537.62 +6.27% 
Hang Seng 14,384.34 +39.97 +0.28% 
Straits Times 1,854.54 -29.21 -1.55% 

http://biz.yahoo.com/ap/081104/wall_street.html
*Stocks surge as investors anticipate yearend rally*
Tuesday November 4, 4:46 pm ET 
By Sara Lepro and Tim Paradis, AP Business Writer  
*Wall Street surges as investors pile into market, expecting yearend rally *


NEW YORK (AP) -- Investors believing that Wall Street is on the verge of a yearend rally piled into the market Tuesday, brushing off more weak economic data while they scarfed up stocks and propelled the Dow Jones industrials up 300 points to its highest close in four weeks.

It was the biggest Election Day rally for the Dow, topping the 1.2 percent gain seen in 1984 when Ronald Reagan defeated Walter Mondale. Prior to 1980, the market was closed on Election Day.

Some analysts said the market rose on relief that the presidential election was about to be over. But others said investors were anticipating a year-end recovery from Wall Street's huge sell-off and were buying to be sure they didn't miss out on its start.

"I seriously doubt it has much to do with the election, other than we're all looking forward to it being over," said independent investment strategist Edward Yardeni.

The fact that Wall Street is in the final stretch of a tough year is probably lifting stocks more than the elections, he said. "It's almost been a classic textbook crash in September and October followed by a year-end rally."

Steven Goldman, chief market strategist at Weeden & Co., said, "historically, we were at the most oversold levels since October 1974," said pointing to price-to-earnings ratios. "We've come to levels that would tend to discount a lot of bad news."

There's still a feeling the market might fall back and retest the trading lows reached Oct. 10 before entering a true bull market. But it's possible that the retrenchment won't happen until 2009 -- in similar oversold markets in 1974 and 2002, Goldman said, the return to the lows of the bear market did not happen until two months later.

Analysts predict stocks are headed for a recovery no matter who is elected, as the policies of both John McCain and Barack Obama likely will be guided by the weak economy and the recent flood of government support designed to keep the global financial system from collapsing.

The market again looked past a downbeat economic report, as it did on Monday, when investors calmly received a report of a big slowdown in manufacturing before the Dow finished essentially flat.

The Commerce Department said Tuesday that factory orders fell 2.5 percent in September from August levels, much worse than the 0.7 percent drop analysts predicted. But investors generally expect data from September, and even October, to be extremely weak, as credit markets began to seize up in mid-September. Analysts believe much of the bad news is already factored into stock prices; last week saw the Dow rise 11.3 percent -- its best weekly gain in 34 years.

"The risk of a depression is off the table," said Ben Halliburton, chief investment officer of Tradition Capital Management.

Still, some analysts say the market's gains might not be sustainable. Though the uncertainty surrounding the election will be cleared, they said there are still many economic challenges, and some of the market volatility seen in October, in the weeks and months ahead.

"In the next couple of days, people are going to focus on the fact that we still have these issues," said Bernie McGinn, chief executive of McGinn Investment Management, referring to the worsening economy. "They aren't resolved."

According to preliminary calculations, the Dow rose 305.45, or 3.28 percent, to 9,625.28. The Dow last closed above 9,500 on Oct. 6, when it finished at 9,955.50.

The broader indexes also rose. The Standard & Poor's 500 index gained 39.45, or 4.08 percent, to 1,005.75. The Nasdaq composite index rose 53.79, or 3.12 percent, to 1,780.12, its sixth straight advance and its longest winning streak of the year.

The Russell 2000 index of smaller companies rose 7.47, or 1.39 percent, to 545.97.

Advancing issues outnumbered decliners by about 4 to 1 on the New York Stock Exchange, where volume came to a light 1.3 billion shares.

Energy and industrial stocks led the market higher, while health care names, often a defensive investment, showed more modest advances. Exxon Mobil Corp. rose 4.3 percent, aluminum producer Alcoa Inc. rose 3.5 percent and Johnson & Johnson advanced 1.19 percent.

There were other signs of the market's growing confidence. Wall Street's fear gauge, the Chicago Board Options Exchange Volatility Index, known as the VIX, fell to 47.73, its lowest close since Oct. 3. The VIX normally trades below 30 and tracks options activity for the companies that make up the S&P 500; it closed as high as 80.06, on Oct. 27.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

A case of postelection nerves sent Wall Street plunging Wednesday as investors absorbing a stream of bad economic news wondered how a Barack Obama presidency will help the country weather a possibly severe recession. Volatility returned to the market, with the Dow Jones industrials falling nearly 500 points and all the major indexes tumbling more than 5 percent.

The market was expected to give back some gains after a six-day runup that lifted the Standard & Poor's 500 index more than 18 percent. But investors lost some of their recent confidence about the economy and began dumping stocks again; light volume helped exaggerate the price swings.

*The NYSE DOW closed LOWER -486.01 points -5.05% on Wednesday Novmember 5*
Sym Last........ ........Change..........
Dow 9,139.27 -486.01 -5.05% 
Nasdaq 1,681.64 -98.48 -5.53% 
S&P 500 952.77 -52.98 -5.27% 
30-yr Bond 4.1540% -0.0680  

NYSE Volume 5,447,484,000 
Nasdaq Volume 2,092,419,000 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,530.73 -108.77 -2.34% 
DAX 5,166.87 -111.17 -2.11% 
CAC 40 3,618.11 -72.98 -1.98% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,521.24 +406.64 +4.46% 
Hang Seng 14,840.16 +455.82 +3.17% 
Straits Times 1,868.82 +39.13 +2.14% 

http://biz.yahoo.com/ap/081105/wall_street.html
*Stocks plunge as investors ponder Obama presidency*
Wednesday November 5, 4:30 pm ET 
By Sara Lepro and Tim Paradis, AP Business Writer  
*Stocks plunge as anxious investors ponder impact of Obama presidency on business, economy *

NEW YORK (AP) -- A case of postelection nerves sent Wall Street plunging Wednesday as investors absorbing a stream of bad economic news wondered how a Barack Obama presidency will help the country weather a possibly severe recession. Volatility returned to the market, with the Dow Jones industrials falling nearly 500 points and all the major indexes tumbling more than 5 percent.

The market was expected to give back some gains after a six-day runup that lifted the Standard & Poor's 500 index more than 18 percent. But investors lost some of their recent confidence about the economy and began dumping stocks again; light volume helped exaggerate the price swings.

"I think what is happening in the market is a continuation of really the last few weeks," said Subodh Kumar, global investment strategist at Subodh Kumar & Associates in Toronto. "The markets are still incorporating the slowdown in the global economy."

Worries about the financial sector intensified after Goldman Sachs Group Inc. began to notify about 3,200 employees globally that they have been lost their jobs as part of a broader plan to slash 10 percent of the investment bank's work force, a person familiar with the situation said. The cuts were first reported last month. Goldman fell 8 percent, while other financial names like Citigroup Inc. fell 14 percent.

Commodities stocks also fell after steelmaker ArcelorMittal said it would slash production because of weakening demand. Its stock plunged 21.5 percent.

Although the market expected Obama to win the election, as the session wore on investors were clearly worrying about the weakness of the economy and pondered what the Obama administration might do to help it. Analysts said the market is already anxious about who Obama selects as the next Treasury Secretary, as well as who he picks for other Cabinet positions

Analysts said investors were also uneasy in advance of the Labor Department's October employment report, to be issued on Friday. Economists on average expect a 200,000 drop in payrolls, according to Thomson/IFR. Employers have been slashing jobs after a freeze-up in the credit markets crippled many companies' ability to get financing.

Late-day selling by hedge funds helped deepen the market's losses during the last hour. More selling by the funds is expected to weigh on the market ahead of a Nov. 15 cutoff for shareholders to notify fund managers of their intent to cash out investments before year-end.

According to preliminary calculations, the Dow fell 486.01, or 5.05 percent, to 9,139.27.

The S&P 500 index fell 52.98, or 5.27 percent, to 952.77. Through the six sessions that ended Tuesday, the index, the one most closely watched by market professionals, rose 18.3 percent.

The Nasdaq composite index fell 98.48, or 5.53 percent, to 1,681.64, while the Russell 2000 index of smaller companies fell 31.33, or 5.74 percent, to 514.64.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street plunged for a second day, triggered by computer gear maker Cisco Systems warning of slumping demand and retailers reporting weak sales for October. Concerns about widespread economic weakness sent the major stock indexes down more than 4 percent Thursday, including the Dow Jones industrial average, which tumbled more than 440 points.

The two-day plunge totals about 10 percent for the major indexes.

*The NYSE DOW closed LOWER -443.48 points -4.85%  on Thursday Novmember 6*
Sym Last........ ........Change..........
Dow 8,695.79 -443.48 -4.85% 
Nasdaq 1,608.70 -72.94 -4.34% 
S&P 500 904.88 -47.89 -5.03% 
10 Yr Bond(%) 3.7070% +0.0130 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,272.41 -258.32 -5.70% 
DAX 4,813.57 -353.30 -6.84% 
CAC 40 3,387.25 -230.86 -6.38% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 8,899.14  -622.10 -6.53% 
Hang Seng 13,790.04 -1,050.12 -7.08% 
Straits Times 1,819.20 -49.62 -2.66% 

http://biz.yahoo.com/ap/081106/wall_street.html
Stocks tumble, lose 10 percent in 2-day rout
Thursday November 6, 4:37 pm ET 
By Tim Paradis, AP Business Writer  
Wall Street extends decline as Cisco comments, retailers' sales add to recession worries 


NEW YORK (AP) -- Wall Street plunged for a second day, triggered by computer gear maker Cisco Systems warning of slumping demand and retailers reporting weak sales for October. Concerns about widespread economic weakness sent the major stock indexes down more than 4 percent Thursday, including the Dow Jones industrial average, which tumbled more than 440 points.

The two-day plunge totals about 10 percent for the major indexes.

Comments from Cisco that it saw a steep drop in orders in October and reports from retailers that consumers are skipping trips to the mall provided fresh evidence of the economy's struggles. While sales at Wal-Mart Stores Inc. benefited from bargain-seekers, some specialty retailers posted huge drops in monthly sales.

Adding to investors' list of worries, the Labor Department said the number of people continuing to draw unemployment benefits jumped to a 25-year high, increasing by 122,000 to 3.84 million in late October. It marked the highest level since late February 1983, when the economy was being buffeted by a protracted recession.

While new claims for unemployment benefits dipped by 4,000 to a seasonally adjusted level of 481,000 last week, the levels remain elevated. The findings added to the market's unease ahead of Friday's October employment report, a widely watched barometer of the economy's health.

"I think everybody kind of simultaneously -- the consumers and businesses -- is tightening belts so that's triggering a reasonably precipitous slowdown that's widespread," said Ed Hyland, global investment specialist at J.P. Morgan's Private Bank. "This is something that we haven't really seen, this level of this rapid and significant pullback both in the market and the economy."

Thursday's rout follows a drop of more than 5 percent in the market Wednesday that saw the Dow plunge nearly 500 points as investors fretted that weak readings on employment and downcast profit forecasts and job cuts from financial companies to steelmakers signaled broad economic troubles.

Still, the market's two-day slide follows an enormous run-up since last week so some pullback was expected, analysts said. Through the six sessions that ended Tuesday, the benchmark Standard & Poor's 500 index surged 18.3 percent.

Richard Campagna, chief investment officer at Provident Investment Counsel in Pasadena, Calif., contends the market's pullback isn't surprising given the size of the recent run-up. He said the weak economic readings shouldn't come as a surprise either, given a freeze in credit markets that has disrupted lending and other economic activity since September.

Campagna said the light volume and overall fear among investors is exacerbating the market's volatility.

"Some people are pushing this market around more than they should be out of fear," he said. Many everyday investors are sitting on the sidelines, he said. "Everyone has been shellshocked with the moves in the market."

According to preliminary calculations, the Dow fell 443.48, or 4.85 percent, to 8,695.79 after falling as much as 502 in the final five minutes of trading. The blue chips remain 186 points above 8,451.19, their Oct. 10 closing low from the market's yearlong decline.

Broader stock indicators also posted sharp losses. The Standard & Poor's 500 index fell 47.89, or 5.03 percent, to 904.88, and the Nasdaq composite index fell 72.94, or 4.34 percent, to 1,608.70.

Over the past two days, the Dow is down 9.7 percent, the S&P 500 index is off 10 percent and the Nasdaq is down 9.6 percent.


----------



## acouch

http://leavittbrothers.com/essays/20081104 Worse than the Great Depression by Krassimir Patrov.cfm

ac


----------



## MrBurns

acouch said:


> http://leavittbrothers.com/essays/20081104 Worse than the Great Depression by Krassimir Patrov.cfm
> 
> ac




Finishes with  - 



> Investor beware! Only gold can protect you from the ravages of another Depression!




Sounds like another gold devotee ? 
I bet he knows just where to buy it too.


----------



## Reealjrd

Seeing yesterdays fall of the Indian market. It was confirm today the world market will be down and today would be considered as Black Friday for the share markets.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

For the week, the Dow fell 4.1 percent, the S&P 500 index lose 3.9 percent, the Nasdaq slid 4.3 percent and the Russell fell 5.9 percent.

Buyers returned to Wall Street Friday after two days of heavy losses, mindful of the economy's growing problems but attracted by stocks' lower prices. Analysts said the advance, which also came amid relief that a bad report on unemployment wasn't worse and followed dour third-quarter reports from Ford and General Motors, was to be expected as Wall Street experiences a rocky recovery from October's devastating selling.

The major indexes jumped more than 2 percent, including the Dow Jones industrial average, which rose 250 points in light trading. For the week, the Dow and broader benchmarks like the Standard & Poor's 500 index lost about 4 percent after surging 10 percent or more last week.

*The NYSE DOW closed HIGHER +248.02 points	+2.85% on Fridday Novmember 7*
Sym Last........ ........Change..........
Dow	8,943.81	+248.02	+2.85%
Nasdaq	1,647.40	+38.70	+2.41%
S&P 500	930.99	+26.11	+2.89%
30-yr Bond	4.26%	+0.06

NYSE Volume	4,977,652,000
Nasdaq Volume	1,929,189,620

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,387.14	+114.73	+2.69%
DAX	4,938.46	+124.89	+2.59%
CAC 40	3,469.12	+81.87	+2.42%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,583.00	-316.14	-3.55%
Hang Seng	14,243.43	+453.39	+3.29%
Straits Times	1,863.49	+44.29	+2.43%

http://biz.yahoo.com/ap/081107/wall_street.html
*Stocks rise after two days of heavy selling*
Friday November 7, 4:54 pm ET
By Sara Lepro and Tim Paradis, AP Business Writer
*Stocks end higher on bargain hunting; market advances after two days of heavy selling*

NEW YORK (AP) -- Buyers returned to Wall Street Friday after two days of heavy losses, mindful of the economy's growing problems but attracted by stocks' lower prices. Analysts said the advance, which also came amid relief that a bad report on unemployment wasn't worse and followed dour third-quarter reports from Ford and General Motors, was to be expected as Wall Street experiences a rocky recovery from October's devastating selling.

The major indexes jumped more than 2 percent, including the Dow Jones industrial average, which rose 250 points in light trading. For the week, the Dow and broader benchmarks like the Standard & Poor's 500 index lost about 4 percent after surging 10 percent or more last week.

The market briefly came off its highest levels of the session after President-elect Obama reiterated there is a great deal of hard work to be done to restore the economy to health. Investors had optimistically sent prices higher, only to temporarily pull back when Obama underscored what they already know: that the economy's problems won't be easily solved.

George Shipp, chief investment officer at Scott & Stringfellow in Richmond, Va., said Obama appeared to be trying to telegraph to the market not to expect too much immediately. Obama, noting that he has until January before taking office, said he will work to support an economic stimulus plan and will seek ideas for helping the auto industry.

"My expectation is that he lowers the bar and buys the time," Shipp said. "Certainly there is no reason to create any undue expectations right now."

That afternoon blip upward, retreat and move higher was a mini-version of the market's performance over the past two weeks, with investors turning upbeat, then realizing there was little basis in reality for their resurgent confidence, then changing their minds again.

Hank Smith, chief investment officer at Haverford Investments said the market's turns aren't a surprise.

"I think it's absolutely part of the bottoming process," Smith said. "The Oct. 10 low has been tested again a number of times." The blue chips hit an intraday low of 7,882.51 on Oct. 10.

Friday's economic and corporate news reminded the market that the country could be in for a deep and protracted recession.

The Labor Department said the nation's employers cut 240,000 jobs in October, hurtling the U.S. unemployment rate to a 14-year high of 6.5 percent. The market had expected employers to cut 200,000 jobs and for the unemployment rate to rise 6.3 percent.

Meanwhile, Ford Motor Co. reported a $129 million third-quarter loss and announced plans to cut more than 2,000 additional white-collar jobs. General Motors Corp. said it lost $2.5 billion in the quarter and warned that it could run out of cash in 2009. The struggling automaker also said it has suspended talks to acquire Chrysler.

Although the day's news was on its face worse than expected, investors were drawn by prices beaten down the past two sessions and some relief that the reports weren't more grim.

"We're coming off of a very oversold market that had already braced itself for bad news out of Detroit and certainly bad economic data in terms of the labor report," said Peter Cardillo, chief market economist at Avalon Partners.

The market is following the pattern of volatility that analysts warned would prevail for some time to come.

Obama's election to the White House was preceded by a big rally, during which the benchmark Standard & Poor's 500 index surged 18.3 percent in six sessions up through Tuesday. This was followed by a two-day loss of about 10 percent in the major indexes, including a 929-point drop in the Dow, as investors turned their focus once more to the economy's woes.

"There are three factors that are driving this market: psychological, fundamental and technical," Smith said. "The psychological is fear and panic. We've certainly seen that."

The fundamental factor is investors don't know exactly how the current credit crisis is going to affect the economy. And the technical factor that is playing in to the market is the forced selling from hedge funds and mutual funds that have to raise cash for redemptions, Smith said.

Nov. 15 is the cutoff for shareholders to notify fund managers of their intent to cash out investments before year-end, which means a sudden influx of "sell" orders could force funds into dumping more investments. Analysts expect this to continue to add to the volatility in the market.

According to preliminary calculations, the Dow rose 248.02, or 2.85 percent, to 8,943.81.

The broader S&P 500 index added 26.11, or 2.89 percent, to 930.99, and the Nasdaq composite index rose 38.70, or 2.41 percent, to 1,647.40.

The Russell 2000 index of smaller companies rose 9.95, or 2.01 percent, to 505.79.

Advancing issues outnumbered decliners by more than 2 to 1 on the New York Stock Exchange, where volume came to a light 1.23 billion shares.

For the week, the Dow fell 4.1 percent, the S&P 500 index lose 3.9 percent, the Nasdaq slid 4.3 percent and the Russell fell 5.9 percent.

Despite the gains Friday, investors have not lost sight of the potential for a deep and protracted recession. Obama will inherit an economy marred by a housing collapse, mounting unemployment, hard-to-get credit and financial market upheaval when he assumes office early next year.

Investors are watching closely for whom Obama selects as the next Treasury Secretary, as well as whom he appoints to key Cabinet positions. Additionally, investors are mindful of how the government's $700 billion financial rescue package will be further implemented under a new administration. Obama met Friday with economic experts ahead of his press conference to discuss steps aimed at repairing the economy.

To provide fresh relief, House Speaker Nancy Pelosi said Democrats will push for another round of economic stimulus later this month.

The weak economic data on Friday reflect the freeze in the credit markets that began in mid-September following the bankruptcy of investment bank Lehman Brothers Holdings Inc., and the subsequent pullback in spending among fearful consumers. This has forced companies to cut jobs, said Michael Sheldon, chief market strategist at RDM Financial Group in Westport, Conn.

"Comments that we're hearing from CEOs when they report their earnings indicate that economic activity fell off the cliff," he said.

In other corporate earnings news, Sprint Nextel Corp. reported a loss of $326 million in the third quarter as it continued to hemorrhage customers. The nation's third-largest wireless provided had posted a profit in the year-ago period. Sprint dropped 31 cents, or 8.4 percent, to $3.37.

Investors fled General Motors following its quarterly reports but Ford advanced. GM tumbled 44 cents, or 9.2 percent, to $4.36, while Ford rose 4 cents, or 2 percent, to $2.02.

The dollar fell against most other major currencies, while gold prices fell. Light, sweet crude rose 27 cents to settle at $61.04 a barrel on the New York Mercantile Exchange after falling sharply during the week.

The three-month Treasury bill's yield slipped to 0.28 percent from 0.30 percent late Thursday. A lower yield indicates increased demand. The yield on the benchmark 10-year Treasury note rose to 3.79 percent from 3.69 percent late Thursday.

Bank-to-bank lending rates fell again, though, suggesting that banks are more willing to lend to one another -- a positive signal for the tight credit markets. The London interbank offered rate, or Libor, for three-month loans in dollars dropped for the 20th straight day by 0.10 percent to 2.29 percent, the lowest level since November 2004.

Overseas, Japan's Nikkei index fell 3.55 percent, and Hong Kong's Hang Seng Index rose 3.29 percent. Britain's FTSE 100 rose 2.17 percent, Germany's DAX index rose 2.59 percent, and France's CAC-40 rose 2.42 percent


----------



## sinner

I noticed this week the Hang Seng did not leave the green...can anyone explain why?


----------



## Reealjrd

hello friends,

As seeing the DOW coming down by 9000 what do say how much more this market is going to go. The Asian markets are also facing some disaster. So can any one tell some thing more about it.


----------



## Sean K

Reealjrd said:


> hello friends,
> 
> As seeing the DOW coming down by 9000 what do say how much more this market is going to go. The Asian markets are also facing some disaster. So can any one tell some thing more about it.



Maybe have a read of the DJI/DOW threads, the XAO thread, Severe and Imminent Correction thread, all the other threads, and the Financial Review once in a while.

Good luck!


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street's initial enthusiasm about a $586 billion Chinese stimulus package fizzled Monday, as investors succumbed to anxieties about how U.S. companies will survive a severe pullback in spending.

Stocks got a short-lived boost from China's plans to boost its economy through a mix of spending, subsidies, looser credit policies and tax cuts. The package could benefit multinational companies with business in China such as General Electric Co. and Caterpillar Inc.

*The NYSE DOW closed LOWER -73.27 points -0.82%  on Monday Novmember 10*
Sym Last........ ........Change..........
Dow 8,870.54 -73.27 -0.82% 
Nasdaq 1,616.74 -30.66 -1.86% 
S&P 500 919.21 -11.78 -1.27% 
30-yr Bond 4.2140% -0.0470 

NYSE Volume 4,625,546,000 
Nasdaq Volume 1,713,761,000 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,403.92 +38.96 +0.89% 
DAX 5,025.53 +87.07 +1.76% 
CAC 40 3,505.75 +36.63 +1.06% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,081.43 +498.43 +5.81% 
Hang Seng 14,744.63 +501.20 +3.52% 
Straits Times 1,885.02 +21.53 +1.16% 

http://biz.yahoo.com/ap/081110/wall_street.html
*Wall Street falls, unable to shake economic woes*
Monday November 10, 4:42 pm ET 
By Madlen Read, AP Business Writer  
*Stocks turn lower as concerns about US economy dampen enthusiasm over China stimulus plan *

NEW YORK (AP) -- Wall Street's initial enthusiasm about a $586 billion Chinese stimulus package fizzled Monday, as investors succumbed to anxieties about how U.S. companies will survive a severe pullback in spending.

Stocks got a short-lived boost from China's plans to boost its economy through a mix of spending, subsidies, looser credit policies and tax cuts. The package could benefit multinational companies with business in China such as General Electric Co. and Caterpillar Inc.

But Wall Street's optimism quickly waned, as it has tended to do since the mid-September downfall of Lehman Brothers Holdings Inc. and government takeover of the troubled insurance giant American International Group. Market participants realized that while China's stimulus is a positive sign that governments around the world are working to fix the global economy, the stimulus itself will likely have only a limited effect in the United States.

There was little news Monday to placate investors worried about the health of corporate America. AIG got more money from the U.S. government, but the nation's struggling automakers have yet to hear whether they, too, will get federal aid. And electronics retailer Circuit City Stores Inc. filed for bankruptcy protection.

With few signs of recovery in the economy, few investors are confident enough to make big bets on stocks, although they look cheap; the major indexes are down about 40 percent from their October 2007 peaks.

"They'd like to be optimistic, but individual investors are still very worried," said Hugh Johnson, chief investment officer of Johnson Illington Advisors. Uncertainty about the economic outlook is "likely to hold any recovery somewhat in check. We're arguably undervalued, so we can work our way higher. But it's not going to be with a lot of gusto."

According to preliminary calculations, the Dow Jones industrial average fell 73.27, or 0.82 percent, to 8,870.54, after rising by 215 points in early trading and tumbling by as many as 183. But trading was fairly orderly in the last hour -- in recent weeks, stocks have often seen high volatility late in the day.

Broader indexes also ended lower. The Standard & Poor's 500 index fell 11.78, or 1.27 percent, to 919.21, and the Nasdaq composite index fell 30.66, or 1.86 percent, to 1,616.74.

The U.S. government said it would invest $40 billion into AIG, which also reported a nearly $25 billion third-quarter loss Monday. AIG, which got its first bailout in September, has so far received a total of $150 billion in government aid. The government's investment Monday helped the insurer's stock rise 26 cents, or 12 percent, to $2.37, but raised worries that problems in the financial sector might be worse than anticipated. Most bank shares fell.

On Friday, the major indexes rallied, but ended about 4 percent lower on the week after large mid-week losses.

"The fact is, we haven't been holding rallies very well," said Scott Fullman, director of derivatives investment strategy for WJB Capital Group. He said investors appeared be cashing out gains made Friday ahead of what's expected to be a dismal retail sales report this week, and the bond market's Veterans Day holiday Tuesday.

Anthony Conroy, managing director and head trader for BNY ConvergEx Group, said "we're in that bottoming process," but that trading is apt to be volatile at least until Nov. 15 -- the last day that hedge funds and mutual funds can get calls for redemptions for 2008. Redemptions are when investors ask for their money back.

With stocks trading erratically, investors moved to the relative safety of government bonds.

The Treasury auctioned three-year Treasury notes for the first time since May 2007, and the auction saw strong buying. Meanwhile, the three-month Treasury bill's yield fell to 0.22 percent from 0.28 percent late Friday, and the yield on the benchmark 10-year Treasury note fell to 3.76 percent from 3.79 percent late Friday.

Lower yields indicate stronger demand.

Investors are also watching for developments with General Motors Corp., Chrysler and Ford Motor Co. after the automakers met with congressional leaders last week in hopes of securing financial help.

GM -- one of the 30 companies that make up the Dow -- fell $1, or 23 percent, to $3.36. Ford shed 9 cents, or 4.5 percent, to $1.93.

Democratic leaders in Congress on Saturday asked the Bush administration to provide more aid to the struggling auto industry, which is losing money and shedding jobs as sales have dropped to their lowest level in a quarter century. House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid said in a letter to Treasury Secretary Henry Paulson that the administration should consider expanding the $700 billion bailout program to include car companies.

On Monday, Circuit City filed for bankruptcy protection about a week after it said it would close 20 percent of its stores. The electronics retailer, based in Richmond, Va., has been struggling as nervous consumers spend less and credit has become tighter. Shares sank 15 cents, or 60 percent, to 10 cents.

In other corporate news, Tribune Co., the owner of the Los Angeles Times and Chicago Tribune, said it swung to a third-quarter loss of $121.6 million due to falling newspaper advertising sales.

Citigroup Inc. is in talks to acquire a regional bank to boost the bank's presence in areas it already operates, including the Northeast, California and Texas, according to a report in The Wall Street Journal. The report did not name a potential target. Citigroup shares fell 61 cents, or 5.2 percent, to $11.21.

The Russell 2000 index of smaller companies fell 12.69, or 2.51 percent, to 493.10.

Declining issues outnumbered advancers by about 2 to 1 on the New York Stock Exchange, where volume came to 1.14 billion shares.

A barrel of light sweet crude rose $1.37 to settle at $62.41 on the New York Mercantile Exchange.

The dollar was mixed against other major currencies, while gold prices rose.

Overseas, Japan's Nikkei stock average closed up 5.81 percent, and Hong Kong's Hang Seng index added 3.52 percent. In Europe, the Britain's FTSE 100 rose 0.89 percent, Germany's DAX added 1.76 percent, and France's CAC-40 rose 1.06 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street got another dose of painful reality Tuesday and sent stocks diving as investors recognized that few industries are safe from the consumer spending slump -- whether they're building homes, making cars or selling coffee. The Dow Jones industrial average lifted off its lows of the day, but still closed down nearly 180 points.

It became clear to investors that it's going to be hard to rely on the average consumer to pull the economy out of its downturn. Late Monday, Starbucks Corp. reported lower sales across the coffee chain, and early Tuesday, Toll Brothers Inc. posted a sharp drop in revenue and said it was too difficult to predict what the luxury homebuilder's profit would be next year.

*The NYSE DOW closed LOWER -176.58	 points -1.99% on Tuesday Novmember 11*
Sym Last........ ........Change..........
Dow	8,693.96	-176.58	-1.99%
Nasdaq	1,580.90	-35.84	-2.22%
S&P 500	898.95	-20.26	-2.20%
30-yr Bond	4.2080%	-0.0060

NYSE Volume	5,086,019,500
Nasdaq Volume	1,946,431,120

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,246.69	-157.23	-3.57%
DAX	4,761.58	-263.95	-5.25%
CAC 40	3,336.41	-169.34	-4.83%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,809.30	-272.13	-3.00%
Hang Seng	14,040.90	-703.73	-4.77%
Straits Times	1,806.96	-78.06	-4.14%

http://biz.yahoo.com/ap/081111/wall_street.html
*Consumer spending worries send stocks lower*
Tuesday November 11, 5:40 pm ET
By Madlen Read, AP Business Writer
*Wall Street hit by worries that no industry is left unscathed by drop in consumer spending*

NEW YORK (AP) -- Wall Street got another dose of painful reality Tuesday and sent stocks diving as investors recognized that few industries are safe from the consumer spending slump -- whether they're building homes, making cars or selling coffee. The Dow Jones industrial average lifted off its lows of the day, but still closed down nearly 180 points.

It became clear to investors that it's going to be hard to rely on the average consumer to pull the economy out of its downturn. Late Monday, Starbucks Corp. reported lower sales across the coffee chain, and early Tuesday, Toll Brothers Inc. posted a sharp drop in revenue and said it was too difficult to predict what the luxury homebuilder's profit would be next year.

Wall Street was also jittery as the nation's feeble automakers hope for a bailout from the federal government similar to the one given ailing insurer American International Group Inc. General Motors Corp., whose shares have plunged to 60-year lows, said late Monday it would cut 1,900 factory jobs on top of the 3,600 cuts it announced Friday.

Stocks did recover from deeper losses after a media report that quoted a BlackRock executive as saying a $30 billion Bear Stearns mortgage portfolio could be worth more than its market value suggests. And in another promising sign for mortgages, the government announced the largest moves yet to help homeowners renegotiate hundreds of thousands of delinquent loans held by Fannie Mae and Freddie Mac.

But the market ultimately ended lower, acknowledging that although the mortgage crisis that spawned the current economic deterioration is being addressed, the economy remains extremely troubled.

There were no economic reports released Tuesday, since the government and bond markets were closed for Veterans Day. Investors didn't need government data to see that the economy's slide isn't over, though -- the litany of troubling corporate news was enough. Wall Street has been anticipating grim results from corporate America, but it cannot gauge yet how bad they could get.

"We're in a situation where we really don't know how deep a recession we're in," said Jim Herrick, manager of equity trading at Baird & Co. "Until there's some clarity on the economy and clarity with earnings, we'll definitely be stuck in this trading range."

The market has been giving back gains recently -- including a 248-point advance last Friday -- as it tries to recover from October's heavy selling. Stocks pared nearly all of its losses on the report that BlackRock President Robert Kapito said a Bear Stearns mortgage portfolio is generating cash flow, but then sank again. It was the collapse of the subprime mortgage market more than a year ago and a resulting series of financial industry catastrophes that led to the economy's current predicament.

The market is likely to keep following that pattern of quickly giving back gains until investors have a sense that an economic recovery is coalescing. But most assessments of the economy are still quite bleak.

"I think we will, in fact, look back all the way to the 1929 period to see the kind of slowdown we're experiencing now," said Merrill Lynch Chief Executive John Thain at a conference Tuesday. "And the great degree of uncertainty in the marketplace is how deep, how long and what are the governments around the world going to do to try to provide stimulus to the environment?"

The Dow Jones industrial average shed 176.58, or 1.99 percent, to 8,693.96 after falling by more than 300. Tuesday's close was the Dow's lowest since its 5 1/2-year closing low on Oct. 27 of 8,175.77.

The blue chip index has not dipped below the 8,000 mark in trading since Oct. 10, but is down nearly 35 percent since the start of the year.

Broader stock indicators declined as well. The Standard & Poor's 500 index fell 20.26, or 2.20 percent, to 898.95, and the Nasdaq composite index dropped 35.84, or 2.22 percent, to 1,580.90.

The Russell 2000 index of smaller companies fell 10.81, or 2.19 percent, to 482.29.

The Treasury bond market was closed Tuesday for Veterans Day.

The credit markets have eased a bit since Lehman Brothers Holdings Inc.'s bankruptcy in mid-September, but they remain tight. Investors are impatient to see positive developments -- in the real economy, not just in market borrowing rates -- from the massive government interventions over the past two months, said Alan Gayle, senior investment strategist and director of asset allocation for RidgeWorth Capital Management.

"The market is wondering," Gayle said, "how far does the line go out the door for government assistance?"

AIG got more bailout money Monday, and later that day, American Express Co. got approval from the government to become a commercial bank. The credit card lender will now be able to accept deposits and access the government financing other banks have been using. American Express fell $1.58, or 6.6 percent, to $22.40.

Starbucks shares fell 21 cents, or 2 percent, to $9.99 after the coffee retailer released its earnings, while Toll Brothers slipped 2 cents to $18.93.

GM shares fell 44 cents, or 13 percent, to $2.92, while Ford Motor Co. fell 13 cents, or 6.7 percent, to $1.80.

"It's just not pretty," said Ken Mayland, president of research firm ClearView Economics. "When the alternatives are either socializing GM or having it go through a very painful bankruptcy, neither of those are happy outcomes."

Corporate bankruptcies have been piling up: soon after Circuit City Stores Inc. filed for Chapter 11 protection Monday, the Yellowstone Club -- a mountain retreat for the wealthy -- did the same, after failing to secure new financing.

Third-quarter earnings declines from Vodafone Group PLC, the world's biggest mobile phone company by sales, and InterContinental Hotels Group PLC, the owner of the Holiday Inn hotel chain, revealed sharp pullbacks in consumer spending. And another round of job cuts were announced Tuesday from companies including Altria Group and Swedish vehicle maker Volvo AB; when companies slash jobs, consumer spending tends to fall further.

It's possible the market is in the process of bottoming out after October's massive losses, but analysts say it will likely keep trading erratically until it starts to see promising signs that Americans are in healthier financial shape.

That could happen, perhaps, if enough homeowners get help with their mortgages. Citigroup became the latest major bank, after similar actions by JPMorgan Chase & Co. and Bank of America Corp., to announce that it will try to keep borrowers at risk of foreclosure in their homes. Citigroup fell 41 cents, or 3.7 percent, to $10.80.

Americans are also getting a bit of a break from tumbling fuel prices. Crude sank to a 20-month low as optimism waned that a huge economic stimulus plan in China will avert a prolonged slowdown in the global economy. Light, sweet crude for December delivery fell $3.08 to $59.11 a barrel on the New York Mercantile Exchange. At the pump, gasoline prices are at a national average of $2.22 a gallon.

The dollar moved mostly higher against other major currencies Tuesday, while gold prices dipped.

Declining issues outnumbered advancers by nearly 5 to 1 on the New York Stock Exchange, where consolidated volume came to 4.93 billion shares, up from 4.45 billion shares Monday.

Overseas, Japan's Nikkei fell 3 percent and Hong Kong's Hang Seng fell 4.77 percent. In European trading, Britian's FTSE 100 lost 3.57 percent, Germany's DAX gave up 5.25 percent, and France's CAC-40 decreased 4.83 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

A disheartened Wall Street fell for the third straight session Wednesday as investors absorbed another series of dismal corporate reports and news that the government won't buy banks' soured mortgage assets after all. The Dow Jones industrials skidded more than 410 points, and all the major indexes dropped more than 4 percent.

The market started the day falling on more signs that companies are being hurt by a severe pullback in consumer spending. Macy's Inc. said it lost $44 million in the third quarter as sales at the department store retailer fell more than 7 percent. And consumer electronics retailer Best Buy Co. slashed its fiscal 2009 guidance on fears that consumer spending will erode even further.

*The NYSE DOW closed LOWER -411.30 points -4.73% on Wednesday Novmember 12*
Sym Last........ ........Change..........
Dow 8,282.66 -411.30 -4.73% 
Nasdaq 1,499.21 -81.69 -5.17% 
S&P 500 852.30 -46.65 -5.19% 
30-yr Bond 4.1900% -0.0180 

NYSE Volume 5,818,759,000 
Nasdaq Volume 2,198,311,750 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,182.02 -64.67 -1.52% 
DAX 4,620.80 -140.78 -2.96% 
CAC 40 3,233.96 -102.45 -3.07% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 8,695.51 -113.79 -1.29%  
Hang Seng 13,939.09 -101.81 -0.73% 
Straits Times 1,784.01 -22.95 -1.27% 

http://biz.yahoo.com/ap/081112/wall_street.html
*Stocks skid on news gov't won't buy banks' assets*
Wednesday November 12, 4:36 pm ET 
By Sara Lepro, AP Business Writer  
*Stocks plunge on dismal corporate reports, news gov't won't buy banks' scoured mortgage assets *


NEW YORK (AP) -- A disheartened Wall Street fell for the third straight session Wednesday as investors absorbed another series of dismal corporate reports and news that the government won't buy banks' soured mortgage assets after all. The Dow Jones industrials skidded more than 410 points, and all the major indexes dropped more than 4 percent.

The market started the day falling on more signs that companies are being hurt by a severe pullback in consumer spending. Macy's Inc. said it lost $44 million in the third quarter as sales at the department store retailer fell more than 7 percent. And consumer electronics retailer Best Buy Co. slashed its fiscal 2009 guidance on fears that consumer spending will erode even further.

Meanwhile, Morgan Stanley, suffering from the ongoing losses on Wall Street, outlined plans to cut 10 percent of staff in its institutional securities group -- its biggest business that covers everything from investment banking to stock trading.

The bleak reports, which followed disappointing news from coffee retailer Starbucks Corp. and homebuilder Toll Brothers Inc. earlier in the week, made it increasingly clear to investors that companies across the economy are suffering from the aftermath of the housing and credit crises.

"There just doesn't appear to be an end in sight to the bad news," said Anton Schutz, portfolio manager of the Burnham Financial Industries Fund and the Burnham Financial Services Fund. "The selling is relentless."

There was more pain at mid-morning, when Treasury Secretary Henry Paulson said the government's $700 billion financial rescue package won't purchase troubled assets from banks. He said that plan would have taken too much time, and that the Treasury instead will rely on buying stakes in banks and encouraging them to resume more normal lending.

While the market had been pleased by the government's decision weeks ago to buy banks' stock, investors still hoped to see the financial industry relieved of the burden of the mortgage assets whose decline in value helped set off the nation's financial crisis. His comments, which underscored the anxiety that remains about the health of the financial system, sent stocks falling further.

Analysts believe the market is in the process of retesting the intraday low hit on Oct. 10, when the blue chips fell to 7,882.50.

"We're just going through the typical process of testing and retesting," said Matt King, chief investment officer of Bell Investment Advisors. "If we can continue to build higher and higher lows, that's definitely a positive. If the Dow can build a base above 8,100 and bounce off that, we see that as a definite technical positive."

The selling accelerated in the last hour of the day, as it has done in most sessions over the past two months.

"When there is a lot of volatility, especially on a big down day, people just decide they don't want to own stocks overnight," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. "News doesn't drive this lower, fear does. Investors will back the next morning after they see where things settled."

Late-day volatility has also been fed by hedge and mutual funds selling as investors withdraw money from the market.

According to preliminary calculations, the Dow shed 411.30, or 4.73 percent, to 8,282.66. It was the lowest close for the Dow since its 5 1/2-year low of 8,175.77 reached on Oct. 27.

The broader Standard & Poor's 500 index dropped 46.65, or 5.19 percent, to 852.30, and the Nasdaq composite index stumbled 81.69, or 5.17 percent, to 1,499.21.

The Russell 2000 index of smaller companies fell 29.49, or 6.11 percent, to 452.80.

Declining issues overwhelmed advancers by more than 10 to 1 on the New York Stock Exchange, where volume came to 1.46 billion shares.

Though Paulson's announcement marks a major shift in the original bailout plan and rattled investors, Wall Street analysts generally believe the Treasury is now on the right path.

"That's really what they should have done originally," said King. "First and foremost, we have to make sure banks are going to survive and then we can worry about lending. This is the quickest and most efficient way to do that."

"Buying bad assets doesn't do that," he said.

However, there is some concern that the bailout funds are being depleted rather quickly, said Jason O'Donnell, senior research analyst at Boenning & Scattergood.

"Investors are generally in favor of the emphasis on the capital purchase provisions," O'Donnell said. But, "we're down quickly to a small portion of total funds remaining for other purposes."

Paulson also announced a new goal for the program to support financial markets that supply consumer credit in such areas as credit card debt, auto loans and student loans. He said, "with a stronger capital base, our banks will be more confident" to support economic activity.

But investors are worried that a severe pullback in consumer spending -- which drives more than two-thirds of the U.S. economy -- will prolong a global economic downturn.

Macy's shares fell $1.04, or 11 percent, to $8.37. Best Buy shares tumbled $1.91, or 8 percent, to $21.97.

The future of the country's top automakers remained a major concern on the Street as well, as investors waited to see whether the government would put together a bailout plan for General Motors Corp., Ford Motor Co. and Chrysler.

General Motors was the only gainer among the 30 Dow stocks Wednesday, rising 16 cents, or 5.5 percent, to $3.08. Ford gained 4 cents, or 2.2 percent, to $1.84.

Morgan Stanley, which converted into a bank holding company in September, said it plans to scale back its institutional securities business before the end of the year. The layoffs it plans are in addition to a 10 percent cut made earlier this year to the group.

Morgan Stanley also plans to restructure its money management business by cutting 9 percent of the group's work force. The securities firm employs about 44,000 people worldwide. Morgan Stanley shares fell $2.14, or 15.2 percent, to $11.94.

Meanwhile, American Express Co. is said to be seeking about $3.5 billion from the government to help boost its balance sheet, according to a report in The Wall Street Journal citing people familiar with the situation. AmEx, the No. 4 U.S. credit card issuer, won approval Monday from the Federal Reserve to become a bank holding company, which gives it the ability to grow a large deposit base and access financing from the Fed.

AmEx shares dropped $2.35, or 10.5 percent, to $20.05.

Government bond prices, which did not trade Tuesday because of Veterans Day, moved higher as investors looked for safer investments. The three-month Treasury bill's yield fell to 0.16 percent from 0.22 percent late Monday, and the yield on the benchmark 10-year Treasury note fell to 3.67 percent from 3.76 percent late Monday.

Lower yields indicate stronger demand.

Crude dropped below $57 a barrel Wednesday on the growing realization that global economic growth next year will slow more than originally feared, cutting demand for crude products such as gasoline. Light, sweet crude fell $3.50, or nearly 6 percent, to settle at $56.16 a barrel on the New York Mercantile Exchange.

The dollar was mixed against other major currencies, while gold prices dipped.

Overseas, Japan's Nikkei closed down 1.29 percent and Hong Kong Hang Seng fell 0.73 percent. In Europe, London's FTSE 100 fell 1.52 percent, Germany's DAX fell 2.96 percent, and France's CAC-40 dropped 3.07 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street launched a massive rebound Thursday, muscling the Dow Jones industrial average up nearly 553 points after driving it down near its lows for the year, as investors decided they did not want to miss out on cheap stocks.

After three days of selling that wiped out about $1 trillion in shareholder value, many investors, though nervous about the economy, appeared convinced the market had priced in enough bad news. So when the Standard & Poor's 500 index managed to recover from multiyear trading lows, investors swarmed back in.

*The NYSE DOW closed HIGHER +552.59 points +6.67% 
 on Thursday Novmember 13*
Sym Last........ ........Change..........
Dow 8,835.25 +552.59 +6.67% 
Nasdaq 1,596.70 +97.49 +6.50%  
S&P 500 911.29 +58.99 +6.92% 
30-yr Bond 4.33% +0.14 

NYSE Volume 7,871,752,500 
Nasdaq Volume 3,048,807,500 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,169.21 -12.81 -0.31% 
DAX 4,649.52 +28.72 +0.62% 
CAC 40 3,269.46 +35.50 +1.10% 



*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 8.648,238.64 -456.87 -5.25% 
Hang Seng 13,221.35 -717.74 -5.15% 
Straits Times 1,755.47 -28.54 -1.60% 

http://biz.yahoo.com/ap/081113/wall_street.html
*Dow ends up nearly 553 in rebound from selloff*
Thursday November 13, 4:35 pm ET 
By Madlen Read and Joe Bel Bruno, AP Business Writer  
*Dow ends up nearly 553 points on bargain hunting after 3 straight days of selling *

NEW YORK (AP) -- Wall Street launched a massive rebound Thursday, muscling the Dow Jones industrial average up nearly 553 points after driving it down near its lows for the year, as investors decided they did not want to miss out on cheap stocks.

After three days of selling that wiped out about $1 trillion in shareholder value, many investors, though nervous about the economy, appeared convinced the market had priced in enough bad news. So when the Standard & Poor's 500 index managed to recover from multiyear trading lows, investors swarmed back in.

It's "a herd mentality," said Ryan Larson, senior equity trader at Voyageur Asset Management. "We started going higher -- and you don't want to be the last one on the boat."

Some analysts also said investors were positioning themselves ahead of a meeting of Group of 20 leaders in Washington. The meeting could bring decisions on mending the troubled global financial system.

There was "some anticipation that we'll hear some good news from that meeting," said Jack A. Ablin, chief investment officer at Harris Private Bank. Thursday's rally was "part hopeful, part technical. But certainly welcome."

Stocks sold off early in the day after the Labor Department said the number of newly laid-off individuals seeking unemployment benefits jumped last week to the highest level since right after the Sept. 11, 2001 terrorist attacks. There was also more evidence of a severe pullback in consumer spending -- a worsening trend that had pummeled stocks earlier in the week. Wal-Mart Stores Inc. trimmed expectations for full-year earnings, and Intel Corp. late Wednesday cut more than $1 billion from its sales forecast.

But then the S&P lifted above its Oct. 10 trading lows, and a Treasury auction of 30-year bonds got decent demand from both domestic and foreign buyers, said Arthur Hogan, chief market analyst at Jefferies & Co. The auction results alleviated some fears about the government having a hard time financing its costly bailout.

As stocks rallied, so did oil prices, sending shares of energy companies higher -- the biggest gainer among the 30 Dow companies was Chevron Corp., which rose $8.43, or 12.5 percent, to $75.71.

Many analysts had predicted the market would retest the multiyear lows it reached last month. They also still forecast volatility for some time to come, as Wall Street tries to rebuild from October's devastating losses and gauge the severity of the economy's downturn. During past recoveries from bear markets, a great deal of turbulence in the market became commonplace -- so it's possible that Thursday's gains will get erased if more gloomy reports pour in.

But Hogan called the market's resiliency a "great sign."

According to preliminary calculations, the Dow rose 552.59, or 6.67 percent, to 8,835.25, after falling as low as 7,965.42 and rising as high as 8,876.59. That's a trading range of 911 points. The Dow did not sink below its Oct. 10 trading low of 7,882.51.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*Stocks Hammered in Final Hour*

The Dow Jones industrial average ended the week down down 446.50, or 4.99 percent, at 8,497.31. The Standard & Poor's 500 index finished down 57.70, or 6.20 percent, at 873.29. The Nasdaq composite index ended the week down 130.55, or 7.92 percent, at 1,516.85.

Wall Street ended a turbulent week with another astonishing show of volatility Friday, with stocks plunging, recovering and then plunging again as investors absorbed another wave of downbeat economic news. The Dow Jones industrials fell almost 340 points and the major indexes all fell sharply for the second straight week.


*The NYSE DOW closed LOWER -337.94 points -3.82% on Friday November 14*
Sym Last........ ........Change..........
Dow	8,497.31	-337.94	-3.82%
Nasdaq	1,516.85	-79.85	-5.00%
S&P 500	873.29	-38.00	-4.17%
30-yr Bond	4.2300%	-0.1030

NYSE Volume	5,987,291,500
Nasdaq Volume	2,312,075,250


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,232.97	+63.76	+1.53%
DAX	4,710.24	+60.72	+1.31%
CAC 40	3,291.47	+22.01	+0.67%


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,462.39	+223.75	+2.72%
Hang Seng	13,542.66	+321.31	+2.43%
Straits Times	1,759.14	+3.67	+0.21%

http://biz.yahoo.com/ap/081114/wall_street.html
*Wall Street ends turbulent week sharply lower*
Friday November 14, 6:15 pm ET
By Joe Bel Bruno and Sara Lepro, AP Business Writer
*Stocks tumbles in volatile trade as investors cash in from big rally, refocus on economy
*
NEW YORK (AP) -- Wall Street ended a turbulent week with another astonishing show of volatility Friday, with stocks plunging, recovering and then plunging again as investors absorbed another wave of downbeat economic news. The Dow Jones industrials fell almost 340 points and the major indexes all fell sharply for the second straight week.

Hedge fund selling in advance of a Saturday deadline contributed to the market's gyrations, and some retrenchment was to be expected following a big rally Thursday, when the Dow rallied more than 550 points after falling near its lows for the year. But there was plenty of discouraging news for investors to focus on, including comments from Federal Reserve Chairman Ben Bernanke that the markets remain under "severe strain" and a sobering report on October retail sales.

Analysts believe the market is still searching for a bottom after last month's huge losses, and that the pattern of volatility will continue for some time -- selling, even on technical reasons like looming deadlines for cashing out hedge fund holdings, is still coming against a backdrop of an extremely weak economy.

"Clearly, the trading crowd like hedge funds can take this market in any direction they want to. Anybody looking to build a position is just not confident," said Joseph V. Battipaglia, chief investment officer at Ryan Beck & Co.

The session saw another stream of bad news. Bernanke said during a speech in Frankfurt, Germany, that he would work closely with other central banks to try to alleviate the global financial crisis and left open the door to a fresh interest rate cut. The Fed is scheduled to meet Dec. 16 at its last regularly scheduled meeting this year.

While Wall Street would like to see another rate cut, many investors aren't sure, given the litany of bad economic and corporate news, of how effective a rate reduction would be in the near term. Many investors are still trying to assimilate the idea that the economy's downturn will be protracted, lasting well into next year and perhaps longer.

"The economic news continues to be very negative," said Ben Halliburton, chief investment officer of Tradition Capital Management. "The realization that '09 is going to be a very bad year for economic activity is starting to dawn on people and they are starting to digest how bad it's going to be."

The Commerce Department reported that retail sales plunged by the largest amount on record in October as consumers cut back on spending in the wake of the financial crisis. Retail sales fell by 2.8 percent last month, surpassing the old mark of a 2.65 percent drop in November 2001 in the wake of the terrorist attacks that year.

The market got more disappointing consumer news from retailers Abercrombie & Fitch Co. and JCPenney Co. Both warned that profits will come in below Wall Street's already lowered projections as retailers head into a holiday shopping season that could be among the slowest on record.

The great fear on the Street is that Americans' reluctance to spend will extend what is already a serious economic downturn. A barrage of negative consumer news sent stocks tumbling earlier in the week.

The market drew some brief comfort in the afternoon from comments from Treasury Secretary Henry Paulson, who told CNBC that capital injections in the banking sector will help stimulate lending. He also defended the decision to not buy toxic assets from banks, saying that it would not work as quickly; the move helped send stocks falling earlier this week.

There was disquieting news from the tech sector that weighed on the Nasdaq composite index. Sun Microsystems Inc. said it will cut up to 6,000 workers, or about 18 percent of global staff, as part of a massive restructuring plan. And handset maker Nokia Corp. warned the global economic slowdown will weigh on sales next year.

The Dow fell 337.93, or 3.82 percent, to 8,497.31, at its lows of the day. The Dow fell more than 300 in early trading, recovered to a slim advance and then turned sharply lower at the end of the day as hedge funds cashed out. Fund investors had a Nov. 15 deadline for withdrawing their money, which forced the funds in turn to sell stocks.

The Standard & Poor's 500 index fell 38.00, or 4.17 percent, to 873.29, and the Nasdaq stumbled 79.85, or 5.00 percent, to 1,516.85.

The Russell 2000 index of smaller companies fell 34.71, or 7.07 percent, to 456.52.

Declining issues outpaced advancers by about 4 to 1 on the New York Stock Exchange, where consolidated volume came to 5.73 billion shares, compared with 7.67 billion on Thursday.

For the week, the Dow lost 4.99 percent, the S&P fell 6.20 percent and the Nasdaq tumbled 7.92 percent.

The major indexes have fallen dramatically since their highs of October 2007 as the housing and credit crises have taken their toll on the economy. The Dow is down 40 percent from its closing record of 14,164.53, while the S&P 500 is off 44.2 percent from its record close of 1,565.15. The Nasdaq is off 46.9 percent from its then 7 1/12-year high of 2,859.12.

The Dow's surge Thursday was the third-largest single-session point gain on record, following the 889-point rise on Oct. 28 and the 936-point surge on Oct. 13. The rally came after three days of selling that wiped out about $1 trillion in shareholder value.

Wall Street's violent swings in recent weeks are part of the market's ongoing "bottoming" process, analysts say, in which the market retests the lows hit last month. The market is expected to remain volatile, as evidenced by past recoveries from a bear market.

Randy Frederick, director of trading and derivatives at Charles Schwab & Co., said the sell-off could be attributed in part to investors not wanting to hold on to stocks going in to the weekend, particularly ahead of a meeting of Group of 20 international leaders in Washington. The meeting could bring decisions on how to help the troubled global financial system.

"Certainly in this market we've had a lot of late Friday sell-offs," he said. "The government has been very insistent on making major announcements on Sunday nights."

Bernie McGinn, chief executive of McGinn Investment Management, said the market needs to have a sustained rally for a couple of days to lure buyers back into the market. For the moment, he believes the market will continue to fluctuate based on events like earnings or government reports.

"We're in the middle of chaos," he said. "That's what it is, pure and simple."


The volatility helped send government bond prices higher as investors looked for safety. The three-month Treasury bill's yield fell to 0.14 percent from 0.20 percent late Thursday, and the yield on the benchmark 10-year Treasury note fell to 3.72 percent from 3.85 percent late Thursday. Lower yields indicate higher demand.

Meanwhile, the price of a barrel of light, sweet crude fell $1.20 to settle at $57.04 a barrel on the New York Mercantile Exchange. Oil has been falling for the same reason as stocks -- the fear of a deep global recession.

Shares of major retailers fell as the string of disappointing earnings and outlooks continued. JCPenney lost $2.01, or 10.4 percent, to $17.27. Abercrombie & Fitch tumbled $4.65, or 20.7 percent, to a 52-week low of $17.79.

The dollar rose against other major currencies. Gold prices also rose.

Overseas, Japan's Nikkei closed up 2.72 percent and Hong Kong Hang Seng rose 2.43 percent. In European trading, London's FTSE 100 was up 1.53 percent, Germany's DAX rose 1.31 percent, and France's CAC-40 added 0.98 percent.

The Dow Jones industrial average ended the week down down 446.50, or 4.99 percent, at 8,497.31. The Standard & Poor's 500 index finished down 57.70, or 6.20 percent, at 873.29. The Nasdaq composite index ended the week down 130.55, or 7.92 percent, at 1,516.85.

The Russell 2000 index finished the week down 31.73, or 5.90 percent, at 505.79.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended at 8,721.88, down 636.42 points, or 6.80 percent, for the week. A year ago, the index was at 14,727.28.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street finished sharply lower Monday as investors pored over more signs of economic weakness, including a huge round of layoffs in the financial sector.

After a turbulent week that sent the Dow Jones industrials down nearly 340 points, investors found little solace in the latest news. Stocks zigzagged throughout the session, finally giving way to a stream of late-day selling that left the Dow Jones industrials lower by 223 points

*The NYSE DOW closed LOWER -223.73 -2.63%  on Monday November 17*
Sym Last........ ........Change..........
Dow 8,273.58 -223.73 -2.63% 
Nasdaq 1,482.05 -34.80 -2.29% 
S&P 500 850.75 -22.54 -2.58% 
30-yr Bond 4.21% -0.02 

NYSE Volume 5,534,208,000 
Nasdaq Volume 1,890,395,500

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,132.16 -100.81 -2.38% 
DAX 4,557.27 -152.97 -3.25% 
CAC 40 3,182.03 -109.44 -3.32% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 8,522.58 +60.19 +0.71% 
Hang Seng 13,529.53 -13.13 -0.10% 
Straits Times 1,749.67 -9.47 -0.54% 

http://biz.yahoo.com/ap/081117/wall_street.html
*Stocks finish lower as recession worries deepen*
Monday November 17, 5:24 pm ET 
By Sara Lepro and Madlen Read, AP Business Writers  
*Wall Street declines as investors dwell on deepening recession, banking system worries *

NEW YORK (AP) -- Wall Street finished sharply lower Monday as investors pored over more signs of economic weakness, including a huge round of layoffs in the financial sector.

After a turbulent week that sent the Dow Jones industrials down nearly 340 points, investors found little solace in the latest news. Stocks zigzagged throughout the session, finally giving way to a stream of late-day selling that left the Dow Jones industrials lower by 223 points.

In a signal that banks are still struggling in the wake of massive losses tied to bad mortgage debt, Citigroup Inc. is cutting another 53,000 jobs in the coming quarters. The company said that in addition to job cuts, it plans to lower expenses by about 20 percent and has reduced its assets by more than 20 percent since the first quarter of the year.

Investors were also nervously waiting to see if the nation's troubled automakers would get a bailout. Senate Democrats, who plan to introduce legislation Monday, want to use part of the $700 billion Wall Street bailout to help prop up Detroit's Big Three carmakers: General Motors Corp., Ford Motor Co. and Chrysler LLC. A vote was expected as early as Wednesday.

Meanwhile, a better-than-expected reading on industrial production did little to boost investor sentiment. The Federal Reserve said Monday that industrial output rose 1.3 percent last month, after plunging in September by the largest amount in over 60 years. Economists, on average, had expected an increase of 0.2 percent, according to a survey by Thomson/IFR.

Still, the improvement wasn't encouraging enough, said Anthony Conroy, managing director and head trader for BNY ConvergEx Group, adding that investors want a more concrete sign that the economy could be improving.

"I think we're seeing a tremendous amount of bad economic data," he said. "Earnings have basically hit a wall and don't seem like they are coming back anytime soon."

The Dow fell 223.73, or 2.63 percent, to 8,273.58, near its lows of the session.

Standard & Poor's 500 index fell 22.54, or 2.58 percent, to 850.75, while the Nasdaq composite index dropped 34.80, or 2.29 percent, to 1,482.05.

The Russell 2000 index of smaller companies fell 5.16, or 1.13 percent, to 451.36.

Declining issues outpaced advancers by a 2 to 1 margin on the New York Stock Exchange, where consolidated volume came to a light 5.7 billion shares.

The moves on Monday followed a massive sell-off last week that saw the Dow finish down 5 percent; the S&P 500 index down 6.2 percent; and the Nasdaq down 7.9 percent. The major indexes have fallen for four of the past five sessions.

Analysts believe the market is still searching for a bottom after last month's huge losses, and that the pattern of volatility will continue for some time. Woody Dorsey, president of financial forecasting firm Market Semiotics, said the market is trapped in a seesaw pattern.

"It is a very technical trade," he said. "The difficulty is there is no dominant positive or negative story that the market is operating on. ... There's nothing here that people can grab on to."

In the meantime, investors are still facing a barrage of bad economic news.

Wall Street was also disappointed by a lack of direction taken to resolve the global financial crisis at the meeting of Group of 20 international leaders in Washington this weekend. However, the leaders did pledge to keep working together to provide loans to financial institutions.

In corporate news, Target Corp. on Monday became the latest retailer to post dour results, citing lower sales at established stores as the reason for a 24 percent drop in profit. Lowe's Cos., meanwhile, said its third-quarter profit also fell 24 percent, better than expected, but it predicted a fourth-quarter profit below the average analyst forecast.

The reports follow a spate of disappointing earnings and forecasts from companies like Macy's Inc., Starbucks Corp. and Best Buy Co. as they battle a severe pullback in consumer spending. Investors fear that Americans' clampdown on spending -- which accounts for about two-thirds of economic activity in the U.S. -- will prolong a worsening economic slump.

On Monday, the Bush White House stressed that it steadfastly opposes drawing funds from the bailout plan to help the nation's automakers. The administration supports the idea of helping the struggling companies, but said the $25 billion that Democrats favor taking from the rescue plan should come, instead, from a Department of Energy program previously approved to develop fuel-efficient vehicles.

General Motors shares added 17 cents, or 5.7 percent, to $3.18. Ford slipped 8 cents to $1.72.

Meanwhile, the layoffs planned at Citigroup underscored the ongoing distress in the financial sector. The company said total headcount is being reduced by 20 percent from its peak of 375,000 at the end of 2007; the company had already announced in October that it was eliminating about 22,000 jobs from those levels. The New York-based bank has posted four straight quarterly losses, including a loss of $2.8 billion during the third quarter.

The fallout from this year's global credit crisis has claimed jobs on all corners of Wall Street, from hedge fund managers to floor traders and beyond. Some industry experts forecast the job losses could come close to 200,000 before the year is over.

On Sunday, Goldman Sachs Group Inc. said seven top executives, including Chief Executive Lloyd Blankfein, opted out of receiving cash or stock bonuses for 2008 amid the ongoing credit crisis.

Citi's leaders may also go without bonuses this year -- a move that would effectively amount to a substantial pay cut for the company's executives.

Citigroup shares fell 63 cents, or 6.6 percent, to $8.89. Goldman sank $4.24, or 6.4 percent, to $62.49.

Government bond prices were higher as investors looked for safety. The three-month Treasury bill's yield fell to 0.10 percent from 0.14 percent late Friday, and the yield on the benchmark 10-year Treasury note fell to 3.66 percent from 3.72 percent late Friday. Lower yields indicate higher demand.

The dollar fell against most other major currencies, and gold prices also declined.

Light, sweet crude closed at a 22-month low, falling $2.11 to settle at $54.95 a barrel on the New York Mercantile Exchange.

In Asian trading, Japan's Nikkei index rose 0.71 percent, despite a report showing the second-straight quarterly decline in gross domestic product -- signaling a recession. Hong Kong's Hang Seng Index fell 0.10 percent.

In European trading, Britain's FTSE 100 fell 2.38 percent, Germany's DAX index fell 3.25 percent, and France's CAC-40 fell 3.32 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street rebounded Tuesday in another turbulent session, as investors rushed back into the market after the Standard & Poor's 500 index tested a 2003 low.

The market, which had been down four of the past five sessions, has been volatile amid worries about how long a recession might be. That's driven many retail investors to the sidelines, while big institutional traders like hedge funds keep major stock indexes vacillating.


*The NYSE DOW closed HIGHER +151.17 +1.83%  on Tuesday November 18*
Sym Last........ ........Change..........
Dow 8,424.75 +151.17 +1.83% 
Nasdaq 1,483.27 +1.22 +0.08% 
S&P 500 859.12 +8.37 +0.98% 
30-yr Bond 4.1440% -0.0620 

NYSE Volume 6,751,820,000 
Nasdaq Volume 2,416,511,500 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,208.55 +76.39 +1.85% 
DAX 4,579.47 +22.20 +0.49% 
CAC 40 3,217.40 +35.37 +1.11% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 8,328.41 -194.17 -2.28% 
Hang Seng 12,915.89 -613.64 -4.54% 
Straits Times 1,692.55 -57.12 -3.26% 


http://biz.yahoo.com/ap/081118/wall_street.html
*Wall Street pulls off final-hour rebound*
Tuesday November 18, 5:10 pm ET 
By Joe Bel Bruno, AP Business Writer  
*Stocks surge in late trading after major indexes test lows amid more economic uncertainty *


NEW YORK (AP) -- Wall Street rebounded Tuesday in another turbulent session, as investors rushed back into the market after the Standard & Poor's 500 index tested a 2003 low.

The market, which had been down four of the past five sessions, has been volatile amid worries about how long a recession might be. That's driven many retail investors to the sidelines, while big institutional traders like hedge funds keep major stock indexes vacillating.

That was the case on Tuesday as stocks rallied in the final hour of trading. At least some of the buying was because fund managers whose portfolios are tied to the S&P 500 had to find a replacement for Anheuser-Busch Cos. The brewer was officially removed from trading at the market's close after its takeover by Belgium's InBev SA was completed.

Investors also used the market's big drop earlier in the session as chance to scoop up undervalued stocks. There was some encouragement about corporate earnings after Hewlett-Packard Co. said fourth quarter and 2009 results will sail past Wall Street expectations.

But still underpinning the market were concerns that the economy has fallen into a recession that could be the worst downturn in more than two decades. A disappointing reading on wholesale prices and the housing market only confirmed this.

The Labor Department reported that wholesale prices plunged a record amount in October, a drop that could indicate a rising threat of deflation. Meanwhile, homebuilders' confidence in a near-term housing recovery sank to a new all-time low this month, according to the National Association of Home Builders/Wells Fargo housing market index. NAHB Chairman Sandy Dunn said the report "shows that we are in a crisis situation."

Analysts said the market continues to search for a much-elusive bottom, and could yet again retest lows. The major indexes continued to attempt some sort of recovery from October's devastating losses.

"We're going to need more strength from here for a period of time to develop a convincing story that the market has bottomed," said Alan Gayle, senior investment strategist at RidgeWorth Investments.

The Dow ended up 151.17, or 1.83 percent, to 8,424.75.

The Standard & Poor's 500 index rose 8.37, or 0.98 percent, to 859.12, after earlier in the drifting toward its 2003 low of 818.69. The Nasdaq composite index added 8.37, or 0.98 percent, to 1,483.27. The Russell 2000 index of smaller companies fell 3.79, or 0.84 percent, to 447.51.

Volume on the New York Stock Exchange came to a light 1.6 billion shares. The fact that trading volume remains low is also a concern for analysts because that tends to skew the market's moves.

The uncertainty on Wall Street has kept Treasury bonds in high demand. The yield on the three-month T-bill, considered one of the safest assets around, rose to 0.11 percent from 0.10 percent late Monday. Longer-term Treasurys also moved higher, with the yield on the benchmark 10-year note falling to 3.53 percent from 3.66 percent.

Yields that low suggest that investors are willing to earn virtually nothing on their investments as long as their principal is preserved.

Analysts warn not to take Tuesday's gain as a sign the stock market is ready to stage a recovery. Many believe the economy has fallen into a recession that could be the worst downturn in more than two decades.

"There is no enthusiasm on the buy side right now," said Joe Keetle, senior wealth manager at Dawson Wealth Management. "You got a little spurt of it today because Hewlett-Packard's earnings were good and their outlook was good."

There also remains uncertainty in the financial system as Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke were grilled on Capital Hill about their management of a $700 billion financial bailout. Paulson told the House Financial Services Committee that the U.S. has "turned a corner" in averting a financial collapse, but more work needs to be done.

Paulson also said during his testimony that the administration remains firmly opposed to dipping into the government's financial bailout fund for a $25 billion rescue package for Detroit's Big Three automakers, no matter how badly they need the help.

"There are other ways" to help them, Paulson said.

Executives of General Motors Corp., Ford Motor Co. and Chrysler LLC and the head of the United Auto Workers union testified at a Senate Banking Committee hearing about a potential bailout. The automakers, seeking $25 billion in government aid, have the backing of Democratic congressional leaders, but the Bush administration and Republican lawmakers are against the proposed bailout.

The consensus among the three automakers is that if even one of the companies failed it would be a catastrophe to the industry. Ford shares fell 4 cents, or 2.3 percent, to 1.68; GM fell 9 cents, or 2.8 percent, to $3.09.

Chrysler CEO Robert Nardelli said during his testimony that the automaker needs immediate federal help or its cash could fall below of the amount needed to stay in business. The company is owned by an investor group that includes private-equity firm Cerberus Capital Management.

Investors found some encouragement in an unexpected announcement from Hewlett-Packard Co. that fourth-quarter and 2009 earnings will come in above Wall Street projections. The results signal HP, the world's largest-maker of personal computers, is weathering the economic crisis that has siphoned off sales at other technology companies.

HP vaulted $4.25, or 14.5 percent, to $33.59.

Yahoo Inc. shares spiked 92 cents, or 8.7 percent, to $11.55 after founder Jerry Yang announced that he was stepping down as chief executive of the Internet company. Many analysts believe the departure will accelerate an overhaul of Yahoo and lead to a sale to Microsoft.

The dollar fell against most other major currencies. Gold prices also fell. Light, sweet crude fell $2.09 to settle at $54.95 on the New York Mercantile Exchange, the lowest since January 2007.

In Asian trading, Japan's Nikkei index fell 2.28 percent, and Hong Kong's Hang Seng Index fell 4.54 percent. In European trading, Britain's FTSE 100 rose 1.47 percent, Germany's DAX index rose 0.49 percent, and France's CAC-40 rose 1.11 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street hit levels not seen since 2003 on Wednesday, with the Dow Jones industrial average plunging below the 8,000 mark as the fate of Detroit's Big Three automakers amid a slumping economy disheartened investors.

A cascade of selling occurred in the final minutes of the session as investors yanked money out of the market. For many, the real fear is that the recession might be even more protracted if Capitol Hill is unable to bail out the troubled auto industry.

*The NYSE DOW closed LOWER Dow -427.47 points -5.07%  on wednesday November 19*
Sym Last........ ........Change..........
Dow 7,997.28 -427.47 -5.07% 
Nasdaq 1,386.42 -96.85 -6.53% 
S&P 500 806.58 -52.54 -6.12% 
30-yr Bond 3.9720% -0.1720 

NYSE Volume 7,326,077,500 
Nasdaq Volume 2,409,408,000 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,005.68 -202.87 -4.82% 
DAX 4,354.09 -225.38 -4.92% 
CAC 40 3,087.89 -129.51 -4.03% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 8,273.22 -55.19 -0.66% 
Hang Seng 12,815.80 -100.09 -0.77% 
Straits Times 1,665.59 -26.96 -1.59% 


http://biz.yahoo.com/ap/081119/wall_street.html
*Dow plunges nearly 430 to fall below 8,000 mark*
Wednesday November 19, 4:48 pm ET 
By Joe Bel Bruno and Sara Lepro, AP Business Writers  
*Dow falls below the 8,000 mark as the fate of Detroit's Big Three automakers hangs in balance *


NEW YORK (AP) -- Wall Street hit levels not seen since 2003 on Wednesday, with the Dow Jones industrial average plunging below the 8,000 mark as the fate of Detroit's Big Three automakers amid a slumping economy disheartened investors.

A cascade of selling occurred in the final minutes of the session as investors yanked money out of the market. For many, the real fear is that the recession might be even more protracted if Capitol Hill is unable to bail out the troubled auto industry.

Investors also scoured economic data that included minutes from the last meeting of the Federal Reserve in which policymakers lowered projections for economic activity this year and next. Economic worries caused across-the-board selling, with financial stocks particularly hard hit.

The S&P 500, widely considered the broadest snapshot of corporate America, slipped 6.12 percent to 806.58; and the Dow gave up 5.07 percent to 7,997.28. Both closed at their lowest levels since March 2003.

The financial crisis has already wiped out $6.69 trillion of value from the S&P 500 since its October 2007 high, and many fear more is to come. Stocks have traded with high volatility in the past few months, with the major indexes soaring only to plunge an hour later as the market looks for a bottom.

"I don't know what the catalyst is going to be where we turn the corner and people start buying stocks wholeheartedly again," said Jon Biele, head of capital markets at Cowen & Co. "People got out of the way. The financial situation hasn't changed."

The selling on the New York Stock Exchange was staggering -- only 158 companies that trade there finished the day positive while 2,943 declined. Volume again was light, a symptom of the market's recent volatility, with 1.63 million shares exchanging hands by the close.

Smaller stocks also got clobbered. The Russell 2000 index gave up 35.13, or 7.85 percent, to 412.38.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Stocks plunged for a second straight day Thursday, falling to a ranges not seen in six years as financial and energy stocks tumbled and as demand for the safety of government debt spiked to historic levels.

Stocks, which had been weak for much of the session, lost ground after hopes faded that lawmakers would soon put together an aid package for the U.S. automakers and as major indexes like the Standard & Poor's 500 index broke through lows established in 2002. That breach of key technical thresholds sent a shudder through the market and touched off further selling.

*The NYSE DOW closed LOWER Dow -444.99 points	-5.28% on Thursday November 20*
Sym Last........ ........Change..........
Dow	7,552.29	-444.99	-5.28%
Nasdaq	1,316.12	-70.30	-5.07%
S&P 500	752.44	-54.14	-6.71%
30-yr Bond	3.6890%	-0.2830

NYSE Volume	10,184,700,000
Nasdaq Volume	3,188,191,750


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,874.99	-130.69	-3.26%
DAX	4,220.20	-133.89	-3.08%
CAC 40	2,980.42	-107.47	-3.48%


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,703.04	-570.18	-6.89%
Hang Seng	12,298.56	-517.24	-4.04%
Straits Times	1,613.95	-51.64	-3.10%

http://biz.yahoo.com/ap/081120/wall_street.html
*Stocks tumble for second day; Treasurys surge*
Thursday November 20, 4:40 pm ET
By Tim Paradis, AP Business Writer
*Stocks plunge anew as hopes for immediate auto industry loans fade; financials, energy tumble*

NEW YORK (AP) -- Stocks plunged for a second straight day Thursday, falling to a ranges not seen in six years as financial and energy stocks tumbled and as demand for the safety of government debt spiked to historic levels.

Stocks, which had been weak for much of the session, lost ground after hopes faded that lawmakers would soon put together an aid package for the U.S. automakers and as major indexes like the Standard & Poor's 500 index broke through lows established in 2002. That breach of key technical thresholds sent a shudder through the market and touched off further selling.

The pullback for the second straight day sent the Standard & Poor's 500 index down 6.7 percent to the 752 level, below the closing low of 776.76 logged on Oct. 9, 2002. The Dow Jones industrial average, meanwhile, fell 445 points, or 5.6 percent. The decline brings the Dow's two-day decline to 873 points.

Financial stocks plunged on worries that the government's financial rescue won't be sufficient to cover banks' losses. Meanwhile, a sharp drop in oil prices weighed heavily on energy companies.

Thursday's pullback came amid heavy volume, a welcome sign for some investors who are looking for the market to experience a cathartic sell-off that could lay the groundwork for a recovery. Heavier volume can signal investors are scared enough to sell rather than simply sitting on the sidelines, which can result in relatively light volume.

Observers said, however, that the selling was as much to do with entrenched pessimism about the prospects for many corners of the economy.

"Unrelenting gloom has taken over the markets," said Dana Johnson, chief economist at Comerica Inc. "The economic news, the concerns about some major financial institutions, the concerns about the auto sector, earnings reports, everything is coming out in a way that is just provoking a massive selling in the stock market."

"Back in October we were looking at a potential catastrophic meltdown of the credit markets, and that didn't happen," he said. "But that doesn't mean tremendous damage hasn't been done to the economy."

According to preliminary calculations, the Dow fell 444.99, or 5.56 percent, to 7,552.29.

Broader stock indicators also showed huge declines. The Standard & Poor's 500 index fell 54.14, or 6.71 percent, to 752.44. The Nasdaq composite index fell 70.30, or 5.07 percent, to 1,316.12.

The Russell 2000 index of smaller companies fell 27.07, or 6.56 percent, to 385.31.

Declining issues outnumbered advancers by about 10 to 1 on the New York Stock Exchange, where volume came to 2.23 billion shares.

Gus Scacco, managing director at AG Asset Management, said investors can't manage to regain confidence as the market continues to plumb new depths. Stocks fell to their lowest level in more than five years on Wednesday.

"We're trying to make a bottom but we keep breaking through," he said.

Bond prices showed stunning advances as investors clamored for the safety of government debt. The yield on the benchmark 10-year Treasury note fell to 3.14 percent from 3.32 percent late Wednesday. Bond yields move opposite their price. The yield on the three-month Treasury bill, considered one of the safest assets around, fell to 0.03 percent from 0.06 percent late Wednesday.

Light, sweet crude for December delivery fell 7 percent, or $4, to settle at $49.62 on the New York Mercantile Exchange.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The last hour again!*

Despite Friday's gains, stocks are still down sharply for the week. The Dow has lost 5.31 percent, while the S&P 500 fell 8.39 percent and the Nasdaq lost 8.74 percent.

Wall Street staged a surprising comeback Friday, with the major indexes jumping more than 5 percent and the Dow Jones industrials surging nearly 500 points in a late afternoon rally, ending another volatile week that saw stocks reach six-year lows.

Stocks erased about half of the losses that came in steep selling Wednesday and Thursday after investors got an unexpected jolt of confidence late Friday following an NBC News report that President-elect Barack Obama plans to name New York Federal Reserve President Timothy Geithner as Treasury secretary.

*The NYSE DOW closed HIGHER Dow +494.13 points	+6.54% on Friday November 21*
Sym Last........ ........Change..........
Dow	8,046.42	+494.13	+6.54%
Nasdaq	1,384.35	+68.23	+5.18%
S&P 500	800.03	+47.59	+6.32%
30-yr Bond	3.6630%	-0.0360

NYSE Volume	10,525,524,000
Nasdaq Volume	3,164,317,500

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,777.27	-97.72	-2.52%
DAX	4,127.41	-92.79	-2.20%
CAC 40	2,881.26	-99.16	-3.33%


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,910.79	+207.75	+2.70%
Hang Seng	12,659.20	+360.64	+2.93%
Straits Times	1,662.10	+48.15	+2.98%

http://biz.yahoo.com/ap/081121/wall_street.html
Dow ends up nearly 500 on Geithner treasury report
Friday November 21, 5:29 pm ET
By Tim Paradis and Sara Lepro, AP Business Writers
Dow ends up nearly 500 in surprise comeback after report Geithner will be new Treasury secretary

NEW YORK (AP) -- Wall Street staged a surprising comeback Friday, with the major indexes jumping more than 5 percent and the Dow Jones industrials surging nearly 500 points in a late afternoon rally, ending another volatile week that saw stocks reach six-year lows.

Stocks erased about half of the losses that came in steep selling Wednesday and Thursday after investors got an unexpected jolt of confidence late Friday following an NBC News report that President-elect Barack Obama plans to name New York Federal Reserve President Timothy Geithner as Treasury secretary.

Investors have been looking for a clear message from Obama on who will lead his economic brain trust at a time when the country is facing its biggest financial crisis since the Great Depression. In addition, some on Wall Street have grown frustrated with outgoing Treasury Secretary Henry Paulson over his handling of the government's effort to rescue the banking system.

A senior Democratic official familiar with the deliberations confirmed to The Associated Press that Geithner is likely to be named as Treasury secretary. The official requested anonymity because the nomination hasn't been formally announced.

The advance in stocks also came as the FDIC said it would guarantee up to $1.4 trillion in U.S. banks' debt for more than three years as part of the government's financial rescue plan. The directors of the Federal Deposit Insurance Corp. voted Friday to approve the plan, which is meant to break the crippling logjam in bank-to-bank lending.

Stocks fluctuated throughout most of trading Friday, as fresh concerns over the stability of the financial sector prevented the market from establishing any sustainable gains. But stocks moved sharply higher in the final half hour after the report on Geithner.

Despite Friday's gains, stocks are still down sharply for the week. The Dow has lost 5.31 percent, while the S&P 500 fell 8.39 percent and the Nasdaq lost 8.74 percent.

According to preliminary calculations, the Dow rose 494.13 points, or 6.54 percent, on Friday to settle at 8,046.42. The benchmark Standard & Poor's 500 index jumped 47.59, or 6.32 percent, to 800.03, and the Nasdaq composite advanced 68.23, or 5.18 percent, to 1,384.35.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The last 20 minutes - it could have been better except with drop by about 190 points!*

Wall Street barreled higher Monday for the second straight session, this time in a relief rally over the government's plan to bail out Citigroup Inc. -- a move it hopes will help quiet some of the uncertainty hounding the financial sector and the overall economy. The Dow Jones industrials soared nearly 400 points and the major indexes all jumped more than 4.5 percent.

The surge gave the market its first two-day advance since Oct. 30-31 and the Dow's biggest two-day percentage gain since October 1987; the 891-point rise over the two sessions also wiped out an 872-point plunge over the course of Wednesday and Thursday. Although investors sensed late last week that a rescue of Citigroup was forthcoming, investors nonetheless were heartened, even emboldened, by the U.S. government's decision late Sunday to invest $20 billion in Citigroup and guarantee $306 billion in risky assets.

*The NYSE DOW closed HIGHER Dow +396.97 points +4.93%  on Monday November 24*
Sym Last........ ........Change..........
Dow 8,443.39 +396.97 +4.93% 
Nasdaq 1,472.02 +87.67 +6.33% 
S&P 500 851.81 +51.78 +6.47% 
30-yr Bond 3.7550% +0.0920 

NYSE Volume 8,640,648,000 
Nasdaq Volume 2,614,215,250 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,152.96 +372.00 +9.84% 
DAX 4,554.33 +426.92 +10.34% 
CAC 40 3,172.11 +290.85 +10.09% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 7,910.79 closed 
Hang Seng 12,457.94 -201.26 -1.59% 
Straits Times 1,620.29 -41.81 -2.52% 

http://biz.yahoo.com/ap/081124/wall_street.html
*Dow ends up nearly 400 after bailout of Citigroup*
Monday November 24, 4:57 pm ET 
By Tim Paradis, AP Business Writer  
*Dow ends up nearly 400 after government's bailout of Citigroup lifts some worries about banks *


NEW YORK (AP) -- Wall Street barreled higher Monday for the second straight session, this time in a relief rally over the government's plan to bail out Citigroup Inc. -- a move it hopes will help quiet some of the uncertainty hounding the financial sector and the overall economy. The Dow Jones industrials soared nearly 400 points and the major indexes all jumped more than 4.5 percent.

The surge gave the market its first two-day advance since Oct. 30-31 and the Dow's biggest two-day percentage gain since October 1987; the 891-point rise over the two sessions also wiped out an 872-point plunge over the course of Wednesday and Thursday. Although investors sensed late last week that a rescue of Citigroup was forthcoming, investors nonetheless were heartened, even emboldened, by the U.S. government's decision late Sunday to invest $20 billion in Citigroup and guarantee $306 billion in risky assets.

Wall Street's enthusiasm grew not only because the bailout answered questions about Citigroup but also because many observers saw the move as offering as a model for how the government might carry out other bank stabilizations.

"This could be the template for saving the banks," said Scott Bleier, founder of market advisory service CreateCapital.com.

"The government has taken a new quill out, they've gone to where they didn't go before in terms of trying to secure the system," Bleier said. "Some of that vulnerability seems to be gone now."

Still, the market remains wary, especially with the economy in a serious downturn. The Dow was up more than 500 points in the last hour before giving up some of its gains -- many investors wanted to take some money off the table before the next bit of bad news arrives. And the market has frequently done sharp reversals since the start of the credit crisis 15 months ago.

The efforts from the Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corp. to help stabilize Citigroup are only the latest this year to support a banking system troubled by bad debt and flagging confidence. Besides implementing its $700 billion bailout plan for the overall financial industry, the government has bailed out insurance giant American International Group Inc. and taken over lenders Fannie Mae and Freddie Mac.

"You're definitely seeing relief," said Anthony Conroy, managing director and head trader for BNY ConvergEx Group. "More than anything, the Fed repaired some of the psychological damage that was being done to the sector. I think the Fed is poised to do whatever they possibly can to help the financials get through the current turmoil."

"Not all banks are unhealthy, so knowing that the Fed is there is enough," Conroy said.

According to preliminary calculations, the Dow rose 396.97, or 4.93 percent, to 8,443.39.

Broader stock indicators also jumped. The Standard & Poor's 500 index advanced 51.78, or 6.47 percent, to 851.81, and the Nasdaq composite index rose 87.67, or 6.33 percent, to 1,472.02.

The Russell 2000 index of smaller companies rose 30.25, or 7.44 percent, to 436.79.

The rise in stocks follows a rally Friday that saw the Dow industrials jump 494 points, or 6.5 percent. The other major indexes also rose sharply. Still, stocks ended the week with a loss after heavy selling Wednesday and Thursday.

"I think it's a little bit of confidence coming back into the system right now," said Harry Clark, chief executive of Clark Capital Management. He contends the market began to form a bottom in an Oct. 10 sell-off and on Thursday made further headway toward setting a low that could give way to a rally.

Bond prices were mixed Monday as investors examined the government's bailout plan for Citigroup. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.36 percent from 3.20 percent late Friday.

The Treasury bill market showed continuing high demand, a sign of investors' caution. The yield on the three-month T-bill, considered one of the safest investments, fell to 0.02 percent from 0.04 percent late Friday.

The dollar was mostly lower against other major currencies, while gold prices rose.

Light, sweet crude rose $4.61 to $54.54 on the New York Mercantile Exchange.

Jim Baird, chief investment strategist with Plante Moran Financial Advisors, said the uncertainty over whether the government's cocktail of direct investments in financial houses and support of debt obligations will prove effective has led to recent stock market volatility. He warned, however, that the concerns about banks and the broader economy are likely to continue, he said.

"Just the sheer breadth of potential outcomes is very, very wide which I think makes it difficult for investors to determine how do you play it from here."

Stocks briefly came off their highs of the session in the middle of the session, with the Dow paring its gain from 300 points to 200 points, as President-elect Obama formally named his economic team but didn't offer specifics of an economic stimulus package nor state that he would push back a plan to raise taxes on the richest Americans. He reiterated his goal of creating 2.5 million jobs during the next two years.

Alan Lancz, director at investment research group LanczGlobal, said that while the market might have wanted a firmer commitment against raising taxes, it was too soon for Obama to outline specifics. Lancz expects the new administration wouldn't rush to implement the hikes if the economy appeared too weak.

"There's so many balls in the air right now he'd be foolish to make specific comments," Lancz said, noting that the economic picture could change greatly by Inauguration Day, which is Jan. 20.

Wall Street shrugged off a larger-than-expected drop in sales of existing homes last month as investors instead focus on the government's plans for the financial sector. And while the housing numbers fell short of expectations, Wall Street expected sales would fall sharply after last month's upheaval in the financial markets.

The National Association of Realtors says sales of existing homes fell 3.1 percent to a seasonally adjusted annual rate of 4.98 million in October. That's down from 5.14 million in September.

The financial sector led Monday's advance, fueled by a sense that the government might be developing a more nuanced yet ready-to-apply medicine for financial firms. Citi surged $2.18, or 58 percent, to $5.95. Bank of America rose $3.12, or 27 percent, to $14.59, while JPMorgan Chase & Co. rose $4.86, or 21 percent, to $27.58.

Advancing issues outnumbered decliners by about 7 to 1 on the New York Stock Exchange, where volume came to 2.04 billion shares.

Overseas, Britain's FTSE 100 jumped 9.84 percent, Germany's DAX index surged 10.34 percent, and France's CAC-40 rose 10.09 percent. Hong Kong's Hang Seng index fell 1.59 percent; markets in Japan were closed for a holiday.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street showed some signs of stability Tuesday as investors, heartened by government plans to aid consumer lending companies, selectively bought more stocks following a huge two-day rally. Gains in blue chips gave the Dow Jones industrials and the Standard & Poor's 500 index their first triple-session advance in more than two months.

Tech stocks lagged the market, sending the Nasdaq composite index lower, as investors bet that businesses will continue slashing capital spending in a recession. Some selling was widely expected after a two-day rally that sent the Dow up nearly 900 points, but the fact that the market performed so well -- a contrast to its behavior after past rallies -- was an indication that investors are regaining some of the confidence that has been decimated for months by bad economic news.

*The NYSE DOW closed HIGHER Dow +36.08 points +0.43% on Tuesday November 25*
Sym Last........ ........Change..........
Dow 8,479.47 +36.08 +0.43% 
Nasdaq 1,464.73 -7.29 -0.50% 
S&P 500 857.39 +5.58 +0.66% 
30-yr Bond 3.6320% -0.1230 

NYSE Volume 7,728,153,000 
Nasdaq Volume 2,505,390,750 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,171.25 +18.29 +0.44% 
DAX 4,560.42 +6.09 +0.13% 
CAC 40 3,209.56 +37.45 +1.18%  

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 8,323.93 0.00 +5.22% 
Hang Seng 12,878.60 +420.66 +3.38% 
Straits Times 1,653.25 +32.96 +2.03% 

http://biz.yahoo.com/ap/081125/wall_street.html
*Dow extends rally, broader indexes close mixed*
Tuesday November 25, 4:55 pm ET 
By Joe Bel Bruno, AP Business Writer  
*Dow rises for the 3rd straight day, broader indexes mixed as investors selectively buy stock *


NEW YORK (AP) -- Wall Street showed some signs of stability Tuesday as investors, heartened by government plans to aid consumer lending companies, selectively bought more stocks following a huge two-day rally. Gains in blue chips gave the Dow Jones industrials and the Standard & Poor's 500 index their first triple-session advance in more than two months.

Tech stocks lagged the market, sending the Nasdaq composite index lower, as investors bet that businesses will continue slashing capital spending in a recession. Some selling was widely expected after a two-day rally that sent the Dow up nearly 900 points, but the fact that the market performed so well -- a contrast to its behavior after past rallies -- was an indication that investors are regaining some of the confidence that has been decimated for months by bad economic news.

Three straight days of gains for the Dow and S&P indicates an underlying strength in the market, particularly in the face of a weak technology sector, said Richard E. Cripps, chief market strategist for Stifel Nicolaus.

It's "probably too premature" to say that the market has already hit its lowest level of the downturn, he said. "This bottoming phase is going to be a process."

Many analysts thought the market had reached a bottom weeks ago after the devastating losses of early October, only to see Wall Street take an even sharper dive just last week.

Investors were encouraged Tuesday after the Treasury Department and the Federal Reserve said they planned to provide $800 billion to help unfreeze the market for consumer debt and to make mortgage loans cheaper and more available. The program is aimed at reviving moribund credit markets.

The government, while looking to reduce fear in the credit markets, is eager to see lenders including credit card companies, student loan issuers and car purchase financers resume more normal levels of lending to help stimulate the economy. Since September, when credit markets first froze, financial institutions have been hesitant to hand over money for fear they won't be repaid. That, in turn, has made it harder for businesses and consumers to borrow.

"We're getting more clarity about the federal assistance across the board, and I think that's being well received," said Arthur Hogan, chief market analyst at Jefferies & Co. "Most of the overhangs in the market are getting answers."

According to preliminary calculations, the Dow rose 36.08, or 0.43 percent, to 8,479.47. The index was up 164 points earlier in the session but also fell 161. The Dow last put a three-day advance together on Aug. 26-28.

Broader indexes were mixed. The S&P 500 rose 5.58, or 0.66 percent, to 857.39, giving the index its first three-day rise since Sept. 10-12. The Nasdaq composite index, hurt by signs that companies are cutting back on technology spending, fell 7.29, or 0.50 percent, to 1,464.73.

Still, advancing issues were ahead of decliners on the Nasdaq Stock Market by 5 to 4. On the New York Stock Exchange, advancers were ahead by more than 2 to 1 on volume of 1.7 billion shares.

The government's latest effort to combat the fear hobbling the marketplace overshadowed a report that the nation's overall economic output shrank in the July-September quarter faster than initially estimated as consumers slashed spending by the most in 28 years.

The Commerce Department said third-quarter gross domestic product declined at a 0.5 percent annual rate, outpacing the 0.3 percent first estimated a month ago. Still, Wall Street had expected the number would worsen, so the report didn't catch the market by surprise. It was the worst reading since growth fell at a 1.4 percent pace in the third quarter of 2001, which was during the last recession.

And, ahead of the holiday shopping season, investors got some good news about consumers. The Conference Board said its Consumer Confidence Index unexpectedly rose to 44.9 in November, up from a revised 38.8 in the previous month. Last month's reading was the lowest since the research group started tracking the index in 1967. Economists expected the index to slip to 37.9.

The business research group said Americans' views on the economy still remain the gloomiest in decades. Consumer spending, always a concern on the Street, has taken on greater importance because the economy cannot expand unless consumers are spending -- and they've shown increasing reluctance the past few months, a troubling sign with the holiday season approaching.

Treasury bonds fell during the session after most investors focused on the stock market. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.11 percent from 0.01 percent late Monday. Investors worried about the economy and bad debt have flooded into safest areas of the credit markets, driving down yields, but some of their anxiety eased Tuesday.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.08 percent from 3.33 percent late Monday.

The dollar was mixed against other major currencies, while gold prices fell. Light, sweet crude fell $3.73 to settle at $50.77 a barrel on the New York Mercantile Exchange.

Starbucks Corp. warned in a regulatory filing late Monday that it expects sales will continue to weaken, at least through the end of the fiscal year. The Seattle-based coffee chain said in its annual report that it expects same-store sales, or sales at stores open at least a year, to decline in fiscal 2009; a bleak outlook earlier this month helped set off a wave of selling on economic fears.

Same-store sales are an important retail metric because they measure how established stores are performing, not just new ones. Shares fell 38 cents to $8.08.

Hewlett-Packard Co. on Monday posted fiscal fourth-quarter earnings that topped Wall Street's forecast as strong laptop sales helped offset falling printer orders and weakness in some server lines. Shares fell 24 cents, or 2.9 percent, to $8.21 after analysts said they remain concerned about how the company will fare during the recession.

The Russell 2000 index of smaller companies rose 6.38, or 1.46 percent, to 443.18.

Overseas, Japan's Nikkei stock average rose 5.22 percent. Britain's FTSE 100 rose 0.44 percent, Germany's DAX index rose 0.13 percent, and France's CAC-40 rose 1.18 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

A stock market gaining confidence in the nation's financial system bolted higher Wednesday, propelling the Dow Jones industrials and Standard & Poor's 500 index to their first four-day advance since last spring.

The market reversed losses from earlier in the session after President-elect Barack Obama pledged he would have a plan to deal with the nation's economic crisis on his first day in office. After filling more spots to his economic team, Obama stated that "help is on the way."

*The NYSE DOW closed HIGHER Dow +247.14 points +2.91% on wedneday November 26*
Sym Last........ ........Change..........
Dow 8,726.61 +247.14 +2.91% 
Nasdaq 1,532.10 +67.37 +4.60% 
S&P 500 887.68 +30.29 +3.53% 
30-yr Bond 3.5630% -0.0690 

NYSE Volume 6,442,327,000 
Nasdaq Volume 2,001,666,875 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,152.69 -18.56 -0.44% 
DAX 4,560.50 +0.08 +0.00% 
CAC 40 3,169.85 -39.71 -1.24% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 8,213.22 -110.71 -1.33% 
Hang Seng 13,369.45 +490.85 +3.81% 
Straits Times 1,711.13 +57.88 +3.50% 

http://biz.yahoo.com/ap/081126/wall_street.html
*Dow, S&P 500 clinch 4th straight winning session*
Wednesday November 26, 5:49 pm ET 
By Tim Paradis, AP Business Writer  
*Stocks rally after Obama comments about economy; Dow and S&P rise for 4th straight day *


NEW YORK (AP) -- A stock market gaining confidence in the nation's financial system bolted higher Wednesday, propelling the Dow Jones industrials and Standard & Poor's 500 index to their first four-day advance since last spring.

The market reversed losses from earlier in the session after President-elect Barack Obama pledged he would have a plan to deal with the nation's economic crisis on his first day in office. After filling more spots to his economic team, Obama stated that "help is on the way."

The major indexes built on their gains through the afternoon, but analysts warned that this latest advance came on light pre-holiday volume. The Dow is up 1,174 points, or 15.5 percent, during the past four days, and the S&P 500 is up 135, or 18 percent -- giving both indicators their biggest four-day rise since the Great Depression. The rally marks a string of gains that seemed impossible to achieve in the depths of selling that began in mid-September after the collapse of Lehman Brothers Holdings Inc.

Analysts saw encouraging signs in the rally, but they were still cautious given months of extreme market volatility.

"Sentiment has turned slightly more positive over the past few days with some of the government packages in the U.S. and the stimulus programs that have been announced," said Michael Sheldon, chief market strategist at RDM Financial Group. "That might help turn the tide."

The government's latest steps aimed at restoring the nation's financial system to health came Tuesday, when the Bush administration and the Federal Reserve pledged $800 billion to boost lending on credit cards, auto loans, mortgages and other borrowing.

Obama's remarks, meanwhile, calmed the market after the day's economic reports pointed to more weakness. The government reported that unemployment at recessionary levels, new home sales at their lowest level in nearly 18 years, another plunge in consumer spending, and factory orders for big-ticket items down by the largest amount in two years.

Analysts said some of the turnaround in stocks was due to the fact that the economic news was expected to be bad. Further, volume was about half of its normal levels on the floor of the New York Stock Exchange -- with 1.4 billion shares traded -- which can exacerbate price movements. Consolidated volume, which includes trades on other exchanges, came to 5.71 billion shares, compared to 6.72 billion on Tuesday.

"What we're seeing in the market is basically a light-volume shrugging off of bad news, which is very encouraging in the short term," said Sal Arnuk, co-head of equity trading at Themis Trading LLC.

The Dow industrials rose 247.14, or 2.91 percent, 8,726.61. The Dow has not had four straight gains since April 15-18; its advance is its biggest since 1932, during the Depression.

Broader indicators also rose. The S&P 500 advanced 30.29, or 3.53 percent, to 887.68; it last had a four-day winning streak May 27-30. Its rally was its largest since 1933.

The Nasdaq composite index rose 67.37, or 4.60 percent, to 1,532.10. The Russell 2000 index of smaller companies rose 25.45, or 5.74 percent, to 468.63.

The indexes remain far below the peaks they reached in October 2007. The Dow is down 38.39 percent, the S&P 500 is down 43.28 percent, and the Nasdaq is off 46.41 percent.

Advancing issues outnumbered decliners by 3 to 1 on the NYSE.

On Tuesday, stocks finished mostly higher as investors were encouraged by the government's new initiatives to help unfreeze the credit markets.

The market's performance in recent sessions has been a show of stability as stocks have generally traded with less volatility than they had in the past three months as the market's yearlong pullback intensified. But analysts remain cautious about how long the calm will last.

"I don't think its a sign of longer-term stability, but feel this is a sign of shorter-term stability," said Todd Salamone, director of trading and vice president of research at Schaeffer's Investment Research in Cincinnati. "There's just too much uncertainty out there."

Bond prices rose Wednesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.99 percent from 3.10 percent late Tuesday. The yield on the three-month T-bill, considered one of the safest investments, fell to 0.03 percent from 0.09 percent late Tuesday.

The dollar mostly rose against other major currencies, while gold prices fell. Light, sweet crude rose $3.67 to settle at $54.44 a barrel on the New York Mercantile Exchange.

In economic news, the Labor Department said initial requests for unemployment benefits fell to a seasonally adjusted 529,000 from the previous week's upwardly revised figure of 543,000. That is lower than analysts' expectations of 537,000. Still, the initial claims remain at recessionary levels.

The Commerce Department said orders to U.S. factories for big-ticket manufactured goods plunged in October by the largest amount in two years as the economy weakened. The 6.2 percent drop was more than double the 3 percent decline economists expected.

It also reported that sales of new homes fell 5.3 percent in October to the lowest level in nearly 18 years. The seasonally adjusted annual sales pace of 433,000 homes was the lowest level since January 1991, when the country was facing another steep housing downturn.

Americans also cut back on their spending in October by the largest amount since the 2001 terror attacks. The Commerce Department said consumer spending plunged by 1 percent last month, worse than the 0.9 percent decline that had been expected. The report also said personal incomes rose 0.3 percent last month, more than the 0.1 percent gain analysts had predicted.

There was also some uneasiness ahead of the holiday shopping season. The season, which accounts for as much as 40 percent of annual profits for many stores, is expected to be the weakest in decades, as consumers grapple with rising unemployment and a drop in household wealth.

Some consumer technology names managed to post gains as investors hoped they might be able to see post holiday results.

Apple Inc. rose $4.20, or 4.6 percent, to $95.00, while Dell Inc. rose 63 cents, or 6 percent, to $11.05.

Blue chip stocks were higher. Citigroup Inc., which received a bailout by the government this week to stabilize the bank, surged 97 cents, or 16 percent, to $7.05. Consumer products maker Procter & Gamble Co. fell 2 cents to $63.16, while Chevron Corp. rose $3.40, or 4.4 percent, to $79.39.

Overseas, Japan's Nikkei stock average fell 1.33 percent. In afternoon trading, Britain's FTSE 100 fell 0.44 percent, Germany's DAX index was unchanged, and France's CAC-40 fell 0.52 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*NYSE and NYSE Arca are closed in observance of Thanksgiving on Thursday, November 27.*

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,226.10 +73.41 +1.77% 
DAX 4,665.27 +104.77 +2.30% 
CAC 40 3,250.39 +80.54 +2.54% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 8,373.39 +160.17 +1.95% 
Hang Seng 13,552.06 +182.61 +1.37% 
Straits Times 1,710.52 -0.61 -0.04%


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average ended the week up 782.62, or 9.73 percent, at 8,829.04. The Standard & Poor's 500 index finished up 96.21, or 12.03 percent, at 896.24. The Nasdaq composite index ended the week up 151.22, or 10.92 percent, at 1,384.35.

Wall Street finished higher Friday, wrapping up its biggest five-day rally in more than 75 years, even as investors digested signs of a bleak holiday season for retailers and fears that a flurry of reports next week will show more economic distress.

On the short trading day, investors snapped up the battered shares of blue-chip stalwarts Citigroup Inc. and General Motors Corp., fueling a rally that has surprised many market experts whipsawed by wild swings during the past three months.
	

		
			
		

		
	




*The NYSE DOW closed HIGHER Dow +102.43 points	+1.17% on Fridday November 28*
Sym Last........ ........Change..........
Dow	8,829.04	+102.43	+1.17%
Nasdaq	1,535.57	+3.47	+0.23%
S&P 500	896.24	+8.56	+0.96%
30-yr Bond	3.4870%	-0.0760

NYSE Volume	2,863,425,750
Nasdaq Volume	791,066,190


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,288.01	+61.91	+1.46%
DAX	4,669.44	+4.17	+0.09%
CAC 40	3,262.68	+12.29	+0.38%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,512.27	+138.88	+1.66%
Hang Seng	13,888.24	+336.18	+2.48%
Straits Times	1,732.57	+22.05	+1.29%

http://biz.yahoo.com/ap/081128/wall_street.html
*Stocks end short session with 5th straight gain*
Friday November 28, 4:51 pm ET
By Tim Paradis, AP Business Writer
*Dow, S&P log biggest 5-day percentage gains since the 1930s, even as holiday sales look bleak*

NEW YORK (AP) -- Wall Street finished higher Friday, wrapping up its biggest five-day rally in more than 75 years, even as investors digested signs of a bleak holiday season for retailers and fears that a flurry of reports next week will show more economic distress.

On the short trading day, investors snapped up the battered shares of blue-chip stalwarts Citigroup Inc. and General Motors Corp., fueling a rally that has surprised many market experts whipsawed by wild swings during the past three months.

The market got big boosts over the past week from President-elect Barack Obama naming his economic team, the government propping up Citigroup, and the Federal Reserve deciding to buy massive amounts of mortgage-backed securities. These efforts reassured the market that broad efforts are still being made to fight the financial crisis that intensified in September with the bankruptcy of Lehman Brothers Holdings Inc.

Just last week, the S&P 500 index fell to its lowest point since 1997 while Citigroup and GM were trading at 15-year and 70-year lows, respectively -- touching off worries about how far the market would slide.

While the stock market's strong rebound was certainly welcome, analysts were hesitant about getting too optimistic. Not only did were trading volumes very light on Friday, but investors will be digesting a slew of economic data next week ranging from a reading on the manufacturing sector to the all-important employment report from the Labor Department. Both are expected to be dismal.

"We're seeing some confidence come back into this stock market, but I don't think that's necessarily a reason to be dropping our guard," said Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York. "You still have to be cautious. There's opportunity, but you have to be extremely selective and defensive."

The stock market closed three hours early the day after Thanksgiving and locked in gains of 16.9 percent for the Dow since the rally began Nov. 21, 19.1 percent for the S&P 500; and 16.7 percent for the Nasdaq.

It was the first time the Dow rose for five consecutive sessions since July 2007, and the biggest five-day percentage gain over five sessions since Aug. 8, 1932. For the S&P 500, it was the first five-day string of gains since July 2007, and the largest five-day percentage gain since March 16, 1933.

The month of November wiped out $1 trillion of shareholder wealth, but the last five days gained $1.2 trillion, according to the Dow Jones Wilshire 5000 Composite Index, which reflects the value of nearly all U.S. stocks.

What could stymie the rally, however, is if the holiday shopping period, which began in earnest Friday, turns out even worse than expected. Wall Street already anticipates that retailers will suffer as consumers, nervous about a difficult job market, lower home values and a jittery stock market, grow more restrained in their spending this year.

"You've seen all sorts of numbers that point to the fact that discretionary spending in the economy has come to an absolute halt," said David Reilly, director of portfolio strategy at Rydex Investments.

Some retail stocks rose Friday as some investors hoped the predictions have been overly dour. Macy's Inc. added 5.6 percent, though some discounters, like Wal-Mart Stores Inc., slipped.

A rare drop in year-over-year holiday spending would be troubling, as it is the most important period of the year for most retailers and because consumer purchases account for more than two-thirds of U.S. economic activity. But while some stores around the nation appeared busy Friday as shoppers looked for bargains, the early evidence was anecdotal and Wall Street would have to wait for cash register tallies.

"The discounting appears to be unbelievable," said Reilly. "The retail sector is going to do whatever it can to get people through the door."

On Friday, the Dow rose 102.43, or 1.17 percent, to 8,829.04.

Broader stock indicators also rose. The S&P 500 index advanced 8.56, or 0.96 percent, to 896.24, while the Nasdaq composite index rose 3.47, or 0.23 percent, to 1,535.57 after spending much of the session lower.

The Russell 2000 index of smaller companies rose 4.28, or 0.91 percent, to 473.14.

Government bonds rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, tumbled to 2.93 percent from 2.99 percent late Wednesday. The yield on the three-month T-bill, considered one of the safest investments, edged up to 0.05 percent from 0.03 percent Wednesday.

Citigroup was by far the biggest gainer among the 30 stocks that make up the Dow industrials, rising $1.24, or 17.6 percent, to $8.29. Just a week ago, the bank's stock was selling off precipitously, before the government put together a plan to backstop more than $300 billion of the bank's assets.

Ryan Detrick, senior technical strategist at Schaeffer's Investment Research, noted that the day after Thanksgiving is historically a winning day for the market, and that the recent bounce resembles those seen in October when the market stormed higher on relatively light volume only to retreat in the face of gloomy economic readings. Market advances on light volume can indicate that there are simply fewer sellers rather than a strong number of buyers snapping up stocks with conviction.

"We're looking at this like not much more than a light-volume, bear market bounce," Detrick said. "They go away just as quickly as they happen, unfortunately."

In addition to next week's economic data, investors will be waiting to see if Detroit's major automakers can secure federal loans after sending restructuring plans to Capitol Hill by Tuesday. General Motors Corp. rose 43 cents, or 8.9 percent, to $5.24 Friday, while Ford Motor Co. rose 54 cents, or 25 percent, to $2.69. Chrysler LLC isn't publicly traded.

The dollar mostly rose against other major currencies, while gold prices also advanced.

Light, sweet crude fell a penny to settle at $54.43 per barrel on the New York Mercantile Exchange.

Advancing issues outpaced decliners by more than 2 to 1 on the New York Stock Exchange, where volume came to a light 787 million shares.

Overseas, Japan's Nikkei stock average fell 0.23 percent. Stocks in India rose a day after trading was suspended because of the terrorist attacks in Mumbai, the country's financial capital. The Sensex Index ended the day with an advance of 0.7 percent.

Britain's FTSE index rose 1.46 percent, Germany's DAX index rose 0.09 percent, and France's CAC-40 advanced 0.38 percent.

The Dow Jones industrial average ended the week up 782.62, or 9.73 percent, at 8,829.04. The Standard & Poor's 500 index finished up 96.21, or 12.03 percent, at 896.24. The Nasdaq composite index ended the week up 151.22, or 10.92 percent, at 1,384.35.

The Russell 2000 index finished the week up 66.60, or 16.38 percent, at 473.14.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended at 8,945.20, up 1,019.14 points, or 12.86 percent, for the week. A year ago, the index was at 15,581.48.


----------



## Aussiejeff

DOW plunge overnight with no sign of any meaninful interday rallies & no short rally into close. DOW futures look just as bad!

VALUE	8,149.09
CHANGE	-679.95
% CHANGE	-7.7
TOTAL MEMBERS	30
UP	0
DOWN	30
UNCHANGED	0

Hang on to yer hats, lads.

Looks like a blood red sun rising over the ASX this morning.

PS:

Citigroup DOWN almost -21%
Bank of America DOWN almost -21%


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The reality that the nation is indeed in recession and that the downturn may well be prolonged sent Wall Street plunging Monday, hurtling the Dow Jones industrials down nearly 700 points and wiping out more than half of last week's big gains. All the major indicators fell more than 7 percent, with the Standard & Poor's 500 index down nearly 9 percent.

The market spent the day absorbing a litany of bad news that convinced investors that the optimism that fed a 1,276-point gain over five sessions was premature. Stocks first slid on initial reports that the first weekend of the holiday shopping season, while better than some retailers and analysts feared, saw only modest gains. That had Wall Street worried that the rest of the season would be disastrous, a troubling possibility not only for retailers but for an economy that is dependent on consumer spending for its growth.

*The NYSE DOW closed LOWER Dow -679.95 points -7.70%  on Munday December 1*
Sym Last........ ........Change..........
Dow 8,149.09 -679.95 -7.70% 
Nasdaq 1,398.07 -137.50 -8.95% 
S&P 500 816.21 -80.03 -8.93% 
30-yr Bond 3.2360% -0.2510 

NYSE Volume 6,507,749,000 
Nasdaq Volume 1,948,170,250 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,065.49 -222.52 -5.19% 
DAX 4,394.79 -274.65 -5.88% 
CAC 40 3,080.43 -182.25 -5.59% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 8,397.22 -115.05 -1.35% 
Hang Seng 14,108.84 +220.60 +1.59% 
Straits Times 1,690.23 -42.34 -2.44% 

http://biz.yahoo.com/ap/081201/wall_street.html
*Stocks fall sharply on consumer spending worries*
Monday December 1, 4:51 pm ET 
By Sara Lepro and Tim Paradis, AP Business Writers  
*Stocks fall sharply on consumer spending worries, downbeat data on manufacturing, construction *

NEW YORK (AP) -- The reality that the nation is indeed in recession and that the downturn may well be prolonged sent Wall Street plunging Monday, hurtling the Dow Jones industrials down nearly 700 points and wiping out more than half of last week's big gains. All the major indicators fell more than 7 percent, with the Standard & Poor's 500 index down nearly 9 percent.

The market spent the day absorbing a litany of bad news that convinced investors that the optimism that fed a 1,276-point gain over five sessions was premature. Stocks first slid on initial reports that the first weekend of the holiday shopping season, while better than some retailers and analysts feared, saw only modest gains. That had Wall Street worried that the rest of the season would be disastrous, a troubling possibility not only for retailers but for an economy that is dependent on consumer spending for its growth.

According to figures released by ShopperTrak RCT, a research firm that tracks total retail sales at more than 50,000 outlets, sales over Friday and Saturday rose just 1.9 percent.

Meanwhile, downbeat economic reports on the manufacturing sector and construction spending only added to investors' concerns. Speeches from Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson also did little to assuage investors about the downturn.

The day's news reminded investors, who last week were buying on a burst of optimism, that the economy is still in serious trouble. Then, at midday, Wall Street got confirmation of what everyone has suspected for months, that the nation is indeed in a recession. The National Bureau of Economic Research, considered the arbiter of when the economy is in recession or expanding, said the U.S. recession had begun a year ago, in December 2007.

That assessment made the retail sales figures all the more unnerving.

"Unfortunately, two-thirds of the American economy is based on the spending of the American consumer," said Mike Stanfield, chief executive of VSR Financial Services. "When the consumer pulls back, it's very hard for the economy to gain much traction."

Investors had been hopeful that last week's rally -- when the major indexes shot up by double digit percentages -- was a sign that some stability had returned to a market badly shaken by months of discouraging economic data. But analysts expect economic concerns to weigh on the market for some time to come.

"Everyone knows the recession is on us, the question is now will it be short and shallow or long and severe," Stanfield said.

Chuck Widger, chief executive of investment management firm Brinker Capital, expects the volatility to continue until investors have better visibility on the future.

"Investors are looking for better data on the economy," he said. "We've got baked in pretty nasty assumptions for the economy this quarter. The markets are looking ahead to the first quarter for data that will confirm or deny the bad news."

According to preliminary calculations, the Dow Jones industrial average fell 679.95, or 7.70 percent, to 8,149.09. The Standard & Poor's 500 index dropped 80.03, or 8.93 percent, to 816.21, while the Nasdaq composite index fell 137.50, or 8.95 percent, to 1,398.07.

Only 218 stocks were in positive territory on the New York Stock Exchange with 2,693 declining. Volume came to 1.62 billion shares.

The Russell 2000 index of smaller companies fell 56.07, or 11.85 percent, to 417.07.

Bond prices rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.76 percent from 2.92 percent Friday. The yield on the three-month T-bill, considered one of the safest investments and an indicator of investor sentiment, slipped to 0.02 percent from 0.05 percent Friday. The lower the yield, the more anxious investors tend to be.

The market received no relief after a pair of speeches from Paulson and Bernanke about the economy.

Paulson said the administration is looking for more ways to tap a $700 billion financial rescue program and will consult with Congress and the incoming Obama administration. The program has distributed $150 billion out of the $250 billion earmarked to buy stock in banks as a way to boost their resources so they can lend more.

He said the administration is looking at other ways to utilize the rescue package, including alternatives for providing capital to financial institutions.

Meanwhile, Bernanke said in another speech Monday that further interest rate cuts are "certainly feasible," but he warned there are limits to how much such action would revive the economy. The central bank's key interest rate now stands at 1 percent, a level seen only once before in the last half-century.

Many economists predict policymakers will drop the rate again at their next meeting on Dec. 15-16. And, there have certainly been enough weak economic news to compel the Fed to make another cut.

There was no shortage of disappointing economic news on Monday. The Institute for Supply Management, a trade group of purchasing executives, said its index of manufacturing activity fell to a 26-year low in November. Meanwhile, the Commerce Department said construction spending fell by a larger-than-expected amount in October.

Stanfield also said investors have lost some confidence in recent moves by the government to bolster the financial system. "The financials are still lagging, which in my opinion shows a lack of confidence in (Treasury Secretary) Paulson and the undertaking of the Fed and the Treasury," he said.

Analysts say investors have been frustrated by the government's change in strategy as it implements its $700 billion financial bailout program; the Treasury originally said it would buy soured mortgage debt from banks, then decided to buy stock in the banks. Last week, with the rescue of Citigroup Inc., the government again said it was buying the bank's failed debt.

The government injected a fresh $20 billion into the banking giant and said it would guarantee up to $306 billion of the bank's risky assets. Banking stocks were among the biggest sectors pulling the overall market down on Monday.

Citigroup tumbled $1.84, or 22.2 percent, to $6.45. Morgan Stanley shares dropped $3.40, or 23.1 percent, to $11.35. Goldman Sachs Group Inc. fell $13.23, or 16.7 percent, to $65.76.

Retailers were among the day's poorest performers. Wal-Mart Stores Inc. fell $2.87, or 5.1 percent, to $53.01, while JCPenney Co. tumbled $2.44, or 12.8 percent, to $16.55.

Light, sweet crude dropped $5.15 to settle at $49.28 a barrel on the New York Mercantile Exchange after OPEC decided not to cut production at an informal meeting in Cairo on Saturday. The Organization of the Petroleum Exporting Countries, which accounts for about 40 percent of global supply, reduced output quotas in October by 1.5 million barrels a day.

The dollar fell against other major currencies. Gold prices also fell.

Overseas, Japan's Nikkei stock average fell 1.35 percent. At the close, Britain's FTSE 100 was down 5.19 percent, Germany's DAX index was down 5.88 percent, and France's CAC-40 was down 5.59 percent.


----------



## Aussiejeff

Is there a Doctor in the house?

That patient's heart chart looks sick. No sign of life.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

In a session that showed more indecision than conviction, the stock market rebounded Tuesday from the previous day's massive decline. The Dow Jones industrials rose 270 points after fluctuating sharply, and all the major indexes rose more than 3 percent.

Investors wary about the economy drew solace from Ford Motor Co. Chief Executive Alan Mulally, who said the automaker has enough cash to make it through 2009 and might not need government help. Rival General Motors Corp. said late in the day that it needs $12 billion in government loans to continue operating; the news briefly shook the market, but stocks rebounded before the close.



*The NYSE DOW closed HIGHER Dow +270.00 points	+3.31% on Tuesday December 2*
Sym Last........ ........Change..........
Dow	8,419.09	+270.00	+3.31%
Nasdaq	1,449.80	+51.73	+3.70%
S&P 500	848.81	+32.60	+3.99%
30-yr Bond	3.2020%	-0.0340

NYSE Volume	6,967,895,000
Nasdaq Volume	2,147,017,500


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,122.86	+57.37	+1.41%
DAX	4,531.79	+137.00	+3.12%
CAC 40	3,152.90	+72.47	+2.35%


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,863.69	-533.53	-6.35%
Hang Seng	13,405.85	-702.99	-4.98%
Straits Times	1,648.38	-41.85	-2.48%

http://biz.yahoo.com/ap/081202/wall_street.html
*Wall Street rebounds sharply after big drop*
Tuesday December 2, 5:47 pm ET
By Joe Bel Bruno, AP Business Writer
*Wall Street rebounds after Monday's massive decline*

NEW YORK (AP) -- In a session that showed more indecision than conviction, the stock market rebounded Tuesday from the previous day's massive decline. The Dow Jones industrials rose 270 points after fluctuating sharply, and all the major indexes rose more than 3 percent.

Investors wary about the economy drew solace from Ford Motor Co. Chief Executive Alan Mulally, who said the automaker has enough cash to make it through 2009 and might not need government help. Rival General Motors Corp. said late in the day that it needs $12 billion in government loans to continue operating; the news briefly shook the market, but stocks rebounded before the close.

The market was also encouraged after General Electric Co. said it expects to pay a dividend despite projections that fourth-quarter results will near the low end of its previous guidance. That raised some hopes that U.S. companies may fare better during the recession than the market has feared.

Investors got an additional lift after the Federal Reserve said it will extend the life of key programs aimed at loosening the credit markets and restoring stability to the financial sector. That helped make financial stocks, the hardest hit sector since the credit crisis began, among the market's biggest gainers.

Still, the day's news wasn't enough to completely calm investors who are weary after huge swings in the market the past few months -- including the nearly 680-point slide in the Dow on Monday. The blue chips were up more than 260 points during the afternoon Tuesday, then dipped to a loss before swinging higher. Analysts said the volatility underscores how bear markets operate, and warned this kind of trading pattern isn't expected to change anytime soon.

"I don't know where the bottom to all this is," said Alexander Paris, economist and market analyst for Chicago-based Barrington Research. "In these kind of markets, all you have to do is get enough confidence to hold your nose and ignore the bad news to send the market higher."

The market remains uncertain about what might lie ahead, from how long the recession might last to more troubles in the struggling financial sector. Wall Street this week is uneasy about a number of reports due to be released, primarily Friday's jobs report that is widely considered the most important economic reading of the month.

The Dow rose 270.00, or 3.31 percent, to 8,419.09, making back more than a third of Monday's plunge, which came on a string of bad economic news including lackluster retail sales during the Thanksgiving weekend.

Broader stock indexes also soared Tuesday. The Standard & Poor's 500 index rose 32.60, or 3.99 percent, to 848.81, while the Nasdaq composite index gained 51.73, or 3.70 percent, to 1,449.80.

The Russell 2000 index of smaller companies rose 24.75, or 5.93 percent, to 441.82.

The market's rise picks up from a five-day rally that was snapped on Monday. Last week's streak for the Dow and the S&P 500 was the longest since July 2007, and the biggest point and percentage gain since 1932.

Advancing issues outpaced decliners by a 3 to 1 basis on the New York Stock Exchange, where consolidated volume came to 5.79 billion shares, about even with Monday.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to a record low of 2.70 percent from 2.76 percent late Monday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.05 percent from 0.03 percent late Monday.

These kind of market movements are typical of periods marked by low economic growth, analysts said. Some, however, are concerned that investors may have gotten carried away since the market completed its biggest rally since 1932 last week.

Ryan Detrick, senior technical strategist at Schaeffer's Investment Research, said there still might be too much optimism in the market, considering the five straight days of advances before Monday's drop. He believes there was too much excitement on the part of investors that a bottom might have formed, and that sets the market up for disappointments.

"There's too much talk of valuations, people jumping in on the bullish side after a bounce," he said. "And that's not how bottoms form, and that's not going to take this market continually higher."

The nation's automakers remained in focus through most of the session as Ford, General Motors and Chrysler LLC returned to Washington to submit plans for remaking themselves. Lawmakers demanded those plans before considering whether to give the automakers $25 billion in government support.

And, investors remain wary as the automakers released their November sales figures Tuesday. Ford said its sales tumbled 31 percent amid a continued slump in consumer spending and tight credit markets. Toyota's sales fell 34 percent despite its extension of zero-percent financing on a dozen vehicles. General Motors Corp. reported a 41 percent slide.

Ford shares rose 15 cents, or 5.9 percent, to $2.70. GM rose 26 cents, or 5.7 percent, to $4.85.

Meanwhile, Dow component General Electric rallied after the diversified industrial, finance and media conglomerate unveiled plans to reorganize its ailing GE Capital finance unit. The changes are expected to save GE $2 billion next year, but will likely lead to job cuts.

Shares spiked $2.11, or 14 percent, to $17.61.

Financial firms bounced back despite a report that Goldman Sachs Group Inc. could face losses of about $2 billion in the fiscal fourth quarter. According to a report in The Wall Street Journal citing industry insiders and analysts, the firm could post a loss of about $5 per share, well above the average analyst estimate of a loss of $1.06 per share.

Goldman Sachs dropped 76 cents to $65.00, while Bank of America Corp. rose $1.52, or 11.8 percent, to $14.37. JPMorgan Chase & Co. added $2.41, or 9.2 percent, to $28.53.

The dollar fell against other major currencies. Gold prices rose.

Light, sweet crude fell $2.32 to settle at $46.96 a barrel on the New York Mercantile Exchange.

Overseas, Japan's Nikkei stock average fell 6.35 percent. In afternoon trading, Britain's FTSE 100 was up 0.19 percent, Germany's DAX index was up 0.74 percent, and France's CAC-40 was down 0.30 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The last hour again saved the day!*

Wall Street withstood another stream of bad economic readings Wednesday, closing sharply higher as investors shuttled between pessimism about the recession and hopes that the nation might start seeing relief soon. The major indexes saw big swings throughout the day, but all closed up more than 2 percent, giving the market its second straight advance.

The day's downbeat news included a drop in productivity, a pullback in the services sector and the Federal Reserve's finding of worsening economic conditions across the country. Investors were initially disheartened by each piece of news but soon shook off their disappointment -- until the next dismal report was issued.

*The NYSE DOW closed HIGHER Dow +172.60 points +2.05% on Wednesday December 3*
Sym Last........ ........Change..........
Dow 8,591.69 +172.60 +2.05% 
Nasdaq 1,492.38 +42.58 +2.94% 
S&P 500 870.74 +21.93 +2.58% 
30-yr Bond 3.1840% -0.0180 

NYSE Volume 7,171,754,000 
Nasdaq Volume 2,294,934,250 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,169.96 +47.10 +1.14% 
DAX 4,567.24 +35.45 +0.78% 
CAC 40 3,166.65 +13.75 +0.44% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 8,004.10 +140.41 +1.79% 
Hang Seng 13,588.66 +182.81 +1.36% 
Straits Times 1,640.57 +1.39 +0.08% 

http://biz.yahoo.com/ap/081203/wall_street.html
*Stocks finish higher despite dismal economic data*
Wednesday December 3, 4:48 pm ET 
By Joe Bel Bruno, AP Business Writer  
*Wall Street finishes higher despite Fed report that regional economies are struggling *

NEW YORK (AP) -- Wall Street withstood another stream of bad economic readings Wednesday, closing sharply higher as investors shuttled between pessimism about the recession and hopes that the nation might start seeing relief soon. The major indexes saw big swings throughout the day, but all closed up more than 2 percent, giving the market its second straight advance.

The day's downbeat news included a drop in productivity, a pullback in the services sector and the Federal Reserve's finding of worsening economic conditions across the country. Investors were initially disheartened by each piece of news but soon shook off their disappointment -- until the next dismal report was issued.

Analysts largely believe that much of the bad news is already priced into the market, and they again said stocks remain in a bottoming process after the huge declines of the past two months.

"The market is beginning to look forward, and a lot of the selling pressure appears to be abating," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners. "Perhaps some of the hedge funds are becoming less aggressive in selling, and investors are starting to look at the future."

The Fed's beige book report said the country's economic picture has deteriorated, with Americans hunkered down heading into the holidays. The report suggests the economy was sinking deeper into recession.

Earlier, the Institute for Supply Management, a trade group of purchasing executives, said the nation's services sector contracted dramatically in November as slower spending hurt insurers, retailers and hotels. And the Labor Department reported that productivity growth slowed in the third quarter.

The market has now closed higher in seven of the last eight sessions; the winning streak was broken only by Monday's big decline that took the Dow Jones industrials down nearly 680 points.

Still, stocks are expected to see more volatility as the week progresses, especially with November retail sales figures being released Thursday and the government's employment report due to come out Friday. Wall Street has been locked for months in a pattern of surging higher only to fall sharply on negative news about the economy and the financial services sector.

According to preliminary calculations, the Dow rose 172.60, or 2.05 percent, to 8,591.69. The blue chip index has gained more than 442 points in the past two session, wiping out more than half of Monday's slide.

Broader indexes also closed higher. The Standard & Poor's 500 index rose 21.93, or 2.58 percent, to 870.74, while the Nasdaq composite index rose 42.58, or 2.94 percent, to 1,492.38.

The Russell 2000 index of smaller companies rose 11.94, or 2.70 percent, to 453.76.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where volume came to 1.3 billion shares.

While the market's recent advances are no doubt encouraging, analysts largely expect the turbulence to continue well into the future as Wall Street works to emerge from a bear market.

"I think these pops are not fundamentally driven," said Jeff Buetow, senior portfolio manager at Portfolio Management Consultants. "I think it's wishful thinking. I don't see any sustainable up move in the equity markets."

And, there are certainly headwinds this week that investors are confronted with. Of particular concern is the nation's unemployment rate, which soared to a 14-year high of 6.5 percent in October as another 240,000 jobs were cut. For November, job losses are expected to climb to 320,000 and the unemployment rate is expected to hit 6.8 percent when the Labor Department reports figures Friday, according to economists surveyed by Thomson Reuters.

Among the news Wednesday, the Institute for Supply Management said its services sector index fell to 37.3 in November from 44.4 in October. The reading, which followed a discouraging report on the manufacturing sector earlier this week, was significantly lower than the 42 the market expected.

Meanwhile, the Labor Department reported that productivity rose at an annual rate of 1.3 percent in the July-September quarter. That's down from the 3.6 percent growth rate in the second quarter, but slightly higher than the 1.1 percent initially reported a month ago and better than the 0.9 percent rise economists expected.

Ahead of retailers' November sales reports Thursday, there was some sign of relief about a stronger-than-expected bump in online sales Monday.

Internet research company comScore Inc. said Wednesday that online sales spiked 15 percent to $846 million on "Cyber Monday," which was named by the National Retail Federation in 2005 to describe the surge in online spending when customers returned to work after Thanksgiving and shopped from their desks. That helped lift Amazon.com Inc. $4.02, or 9.8 percent, to $45.21.

Still, analysts doubt that shopping binges over the weekend -- the unofficial start to the crucial holiday shopping season -- will have been enough to save a terrible November for retailers.

Bond prices rose Wednesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.67 percent from 2.70 percent late Tuesday. The yield on the three-month T-bill, considered one of the safest investments, fell to 0.01 percent from 0.05 percent late Tuesday.

The dollar was mixed against other major currencies. Gold prices fell.

Light, sweet crude oil rose 17 cents to settle at $46.79 a barrel on the New York Mercantile Exchange.

Overseas, Japan's Nikkei stock average rose 1.79 percent. In afternoon trading, Britain's FTSE 100 was up 1.14 percent, Germany's DAX index was up 0.78 percent, and France's CAC-40 was up 0.44 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The last hour ruined the day!*

A period of relative calm on Wall Street ended Thursday as stocks tumbled in the final hour of trading on growing investor anxiety about the government's November employment report. The major indexes each fell more than 2.5 percent, including the Dow Jones industrial average, which dropped 216 points after rising in seven of the last eight sessions.

It was clear that investors were worrying that Friday's employment report would show a further deterioration in the job market; employers have already cut 1.2 million jobs this year through October, leaving the unemployment rate at a 14-year high of 6.5 percent. Economists expect the Labor Department will report that the jobless rate rose to 6.8 percent in November and that companies cut another 320,000 jobs.


*The NYSE DOW closed LOWER Dow -215.45 points -2.51% on Thursday December 4*
Sym Last........ ........Change..........
Dow 8,376.24 -215.45 -2.51% 
Nasdaq 1,445.56 -46.82 -3.14% 
S&P 500 845.22 -25.52 -2.93% 
30-yr Bond 3.0840% -0.1000 

NYSE Volume 6,598,237,000 
Nasdaq Volume 2,079,042,500 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,163.61 -6.35 -0.15% 
DAX 4,564.23 -3.01 -0.07% 
CAC 40 3,161.16 -5.49 -0.17% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 7,924.24 -79.86 -1.00% 
Hang Seng 13,509.78 -78.88 -0.58% 
Straits Times 1,661.04 +20.47 +1.25% 

http://biz.yahoo.com/ap/081204/wall_street.html
Street turns cautious ahead of employment report
Thursday December 4, 4:50 pm ET 
By Tim Paradis, AP Business Writer  
Wall Street turns cautious ahead of Friday's employment report; Dow industrials tumble 216 


NEW YORK (AP) -- A period of relative calm on Wall Street ended Thursday as stocks tumbled in the final hour of trading on growing investor anxiety about the government's November employment report.
The major indexes each fell more than 2.5 percent, including the Dow Jones industrial average, which dropped 216 points after rising in seven of the last eight sessions.

It was clear that investors were worrying that Friday's employment report would show a further deterioration in the job market; employers have already cut 1.2 million jobs this year through October, leaving the unemployment rate at a 14-year high of 6.5 percent. Economists expect the Labor Department will report that the jobless rate rose to 6.8 percent in November and that companies cut another 320,000 jobs.

"It's all about jobs and right now the outlook is pretty downbeat," said Alan Skrainka, chief market strategist with Edward Jones in St. Louis.

Jeff Kleintop, chief market strategist at LPL Financial Services, said many institutional investors are bracing for the jobs report to show 400,000 jobs were lost from the economy. Anything worse than that number could cause a steep drop in the market, he said, while anything above could "stoke renewed selling."

"The market has been very reactionary to the data points, particularly key economic indicators like the employment report due out on Friday," he said. "The day is made in the last hour."

The late-session decline followed a decent run for stocks, which closed higher in seven of the previous eight sessions. It also came as the heads of the Detroit automakers appeared before Congress with hopes of persuading skeptical lawmakers to save their troubled industry. While the market expects the Detroit companies will be able to win some aid from Capitol Hill, support for the troubled companies wasn't assured.

General Motors Corp., Ford Motor Co. and Chrysler LLC are collectively seeking $34 billion in emergency aid.

Anthony Conroy, managing director and head trader for BNY ConvergEx Group, said investors are likely taking money off the table ahead of the employment report and that there was disappointment over the appearance of the heads of the U.S. automakers on Capitol Hill.

"There was no clarity coming out of the autos. People were expecting some clarity," he said.

According to preliminary calculations, the Dow Jones industrial average fell 215.45, or 2.51 percent, to 8,376.24.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 25.52, or 2.93 percent, to 845.22, and the Nasdaq composite index fell 46.82, or 3.14 percent, to 1,445.56.

The Russell 2000 index of smaller companies fell 14.23, or 3.14 percent, to 439.53.

The number of stocks declining on the New York Stock Exchange outpaced those advancing by nearly 3 to 1. Volume came to 1.47 billion shares compared with 1.3 billion shares traded Wednesday.

On Wednesday, Wall Street looked past another stream of bad economic news and finished sharply higher after fluctuating between positive and negative territory for most of the day.

Bond prices rose again, sending yields to record lows. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.56 from 2.67 percent late Wednesday.

The yield on the three-month T-bill, considered one of the safest investments, fell to below 0.01 percent from 0.02 percent late Wednesday.

The dollar was mixed against other major currencies, while gold prices fell.

Among the economic data arriving Thursday, the Labor Department said new claims for jobless benefits fell unexpectedly last week but the number of people continuing to receive government aid reached a 26-year high.

The Commerce Department said factory orders plunged by 5.1 percent in October. It was the steepest decline in eight years.

Retailers were the standouts Thursday, though the market's late decline pared the gains of the sector. The advances came even as companies posted huge sales declines for November. The Goldman Sachs-International Council of Shopping Centers sales index fell 2.7 percent to its lowest reading since its inception in 1969. Expectations had been so low that investors appeared relieved that the month was over and that the sales reports were in hand.

Macy's Inc. said its same-store sales, or sales at stores open at least a year, fell 13.3 percent. Same-store sales are a key measure of a retailer's health. Macy's advanced 44 cents, or 6 percent, to $7.83.

Target Corp. said its same-store sales for the month fell 10.4 percent. The stock fell 44 cents, or 6 percent, to $34.04.

Many shoppers looking for discounts turned to Wal-Mart Stores Inc. The world's largest retailer posted a better-than-expected 3.4 percent increase in sales. In the U.S., grocery sales helped results. Wal-Mart rose 73 cents to $55.11.

Among the automakers, GM fell 79 cents, or 16 percent, to $4.11, while Ford fell 19 cents, or 6.7 percent, to $2.66. Chrysler isn't publicly traded.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The last hour again!*

For the week, the Dow fell 2.2 percent, the S&P 500 declined 2.3 percent and the Nasdaq fell 1.7 percent.

Wall Street put an upbeat spin Friday on the government's report that the nation lost more than half a million jobs last month. Stocks reversed early losses and closed sharply higher as the data raised hopes that Washington will again step in to help the economy.
Related Quotes

The Dow Jones industrial average closed up nearly 260 points as investors' shock dissipated over the Labor Department's report that employers slashed 533,000 jobs in November compared with the 320,00 that economists forecast. Ultimately, even a terrible reading on employment wasn't surprising to a market that has been drubbed by a stream of bad economic news.


*The NYSE DOW closed HIGHER Dow +259.18 points	+3.09% on Friday December 5*
Sym Last........ ........Change..........
Dow	8,635.42	+259.18	+3.09%
Nasdaq	1,509.31	+63.75	+4.41%
S&P 500	876.07	+30.85	+3.65%
30-yr Bond	3.1100%	+0.0260

NYSE Volume	7,119,346,500
Nasdaq Volume	2,238,504,750


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,049.37	-114.24	-2.74%
DAX	4,381.47	-182.76	-4.00%
CAC 40	2,988.01	-173.15	-5.48%


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,917.51	-6.73	-0.08%
Hang Seng	13,846.09	+336.31	+2.49%
Straits Times	1,659.17	+15.49	+0.94%

http://finance.yahoo.com/news/Stocks-turn-higher-shake-off-apf-13759816.html
*Stocks shake off jobs report to end with big gains

Stocks shake off dismal jobs report to end with sharp gains; indexes jump more than 3 percent*

Friday December 5, 2008, 5:39 pm EST


NEW YORK (AP) -- Wall Street put an upbeat spin Friday on the government's report that the nation lost more than half a million jobs last month. Stocks reversed early losses and closed sharply higher as the data raised hopes that Washington will again step in to help the economy.
Related Quotes

The Dow Jones industrial average closed up nearly 260 points as investors' shock dissipated over the Labor Department's report that employers slashed 533,000 jobs in November compared with the 320,00 that economists forecast. Ultimately, even a terrible reading on employment wasn't surprising to a market that has been drubbed by a stream of bad economic news.

The market's advance left Wall Street with moderate losses for the week, the result of a nearly 680-point slide in teh Dow on Monday. More important, the market was able to claim a victory of sorts over the course of the week -- except for Monday's slide, stocks repeatedly overcome bleak economic data and corporate announcements.

Demand for the safety of government debt eased slightly Friday but remained high. In the past week, Treasury yields have plunged to their lowest levels since the government started issuing them.

Stock market investors who originally sold Friday after the employment figures had a change of heart by afternoon, believing the numbers could make the government more likely to supply more aid for the economy. They also appeared relieved by the market's relatively cool reaction to the data -- trading was orderly and the huge loss of jobs didn't spark the type of massive sell-off it might have even a month ago when Wall Street still trying to determine how severe the recession would be.

"In a kind of paradoxical sense, the really ugly employment numbers probably helped the case for more help from Washington, whether it's through the broader stimulus plan or more targeted industry measures," said Craig Peckham, equity trading strategist at Jefferies & Co.

Job losses were widespread, hitting manufacturing, construction, retail, financial and other sectors.

Beyond the hopes for more aggressive moves by the government, strength in the tattered financial sector also gave a boost to the overall market Friday. An upbeat forecast from Hartford Financial Services Group Inc. cut through some of investors' fears that profits among financial firms would continue to spiral lower; the company raised its profit expectations for the year and quelled some concerns about the strength of its balance sheet.

Kim Caughey, equity research analyst at Fort Pitt Capital Group, said that Hartford's "bullish commentary" boosted investors' appetite for financial companies like insurers and banks.

Friday's advance was the eighth for the Dow in 10 sessions, raising some hopes that stability was returning to the Street after months of turbulence. But some analysts were still cautious.

"The markets are, in my view, acting not stable at all but with excessive volatility and unpredictability," said Gary Townsend, president and chief executive of private investment group Hill-Townsend Capital Inc. "It's a very difficult market to invest into and a very difficult market to trade."

The Dow industrials jumped 259.18, or 3.09 percent, to 8,635.42 after falling by 258 and rising as much as 310 in the volatile trading late in the session.

Broader stock indicators also advanced. The Standard & Poor's 500 index rose 30.85, or 3.65 percent, to 876.07, and the Nasdaq composite index rose 63.75, or 4.41 percent, to 1,509.31.

The Russell 2000 index of smaller companies rose 21.56, or 4.91 percent, to 461.09.

Five stocks rose Friday for every one that fell on the New York Stock Exchange, where trading volume came to a light 1.62 billion shares compared with 1.47 billion traded Thursday.

For the week, the Dow fell 2.2 percent, the S&P 500 declined 2.3 percent and the Nasdaq fell 1.7 percent.

Bond prices tumbled as stocks turned higher -- ending a winning streak that had sent yields to record lows for much of the week. The yield on the benchmark 10-year Treasury note, which moves opposite its price, jumped to 2.70 percent from 2.56 percent late Thursday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.02 percent from 0.01 percent late Thursday.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude fell $2.86 to settle at $40.81 a barrel on the New York Mercantile Exchange. Concerns about the economy and weakening energy demand have kept oil prices near four-year lows. The price of oil has fallen a staggering 72 percent since peaking at $147.27 in July.

Analysts said the extent of the labor market's weakness likely will galvanize government officials.

"In the perverse way that the market works, there's a hope that it further fuels the dire need for economic stimulus for the Street and for the consumer, with so many people out of work right now," said Ryan Larson, senior equity trader at Voyageur Asset Management.

The Federal Reserve and the Treasury have been taking unprecedented steps to revive the economy since the mid-September bankruptcy of Lehman Brothers Holdings Inc. The biggest move was the government's $700 billion rescue for the banking sector. The Treasury said Thursday it is considering a plan to encourage banks to make mortgage loans at low rates; that could help patch up the troubled housing market, which many analysts say is crucial to any economic recovery.

Wall Street has reacted with both optimism and indifference in recent months as policymakers have tried to revive stagnant credit markets and stabilize wobbly banks. Some analysts have been hopeful that relative quiet in the markets for more than a week portends a return of some stability because of the government's efforts, while others warn that the volatility in the market will continue.

While the deluge of bad economic readings have weighed on the markets in the past three months, investors are growing somewhat accustomed to the news. The stock market, which generally looks ahead, tends to recover six to nine months before economic reports show a recession is abating. At some point, investors likely will determine that a recession has been fully built into the market's expectations and will begin placing bets on a recovery.

Part of investors' latest uncertainty centers on the automakers. Investors are observing a second day of congressional hearings with the heads of Detroit's top three automakers, who are appearing on Capitol Hill in an effort to avoid running out of cash.

General Motors Corp., Ford Motor Co. and Chrysler LLC are collectively seeking $34 billion in emergency funding. While the market largely expects the companies will win some sort of government aid, support for the troubled carmakers isn't assured.

GM fell 3 cents, or 0.7 percent, to $4.08, while Ford rose 6 cents, or 2.3 percent, to $2.72. Chrysler isn't publicly traded.

Financial stocks also rallied after Hartford's forecast. Hartford's stock doubled, jumping $7.38 to $14.59. Other financials jumped as well. Wells Fargo & Co. rose $2.39, or 8.7 percent, to $29.94, while Prudential Financial Inc. surged $7.35, or 35 percent, to $28.52.

Optimism that buoyed some overseas markets following massive interest rate cuts across Europe Thursday deflated following the report on U.S. jobs. Britain's FTSE 100 fell 2.74 percent, Germany's DAX index fell 4 percent, and France's CAC-40 declined 5.48 percent. Japan's Nikkei stock average slipped 0.08 percent; trading in Tokyo ended before the employment report was released.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

A stock market gaining in confidence shot higher for a second straight session Monday as investors bet that President-elect Barack Obama's plans to increase infrastructure spending will help lift the economy back to health. The major market indexes jumped more than 3 percent, and the Dow Jones industrials' nearly 300 point advance gave the blue chips their highest close in a month.

Obama's plan calls for the largest U.S. public works spending program since the creation of the interstate highway system a half-century ago. That could bolster the economy by putting thousands of people to work building schools and other construction projects.

*The NYSE DOW closed HIGHER Dow +298.76 points +3.46%  on Monday December 8*
Sym Last........ ........Change..........
Dow 8,934.18 +298.76 +3.46% 
Nasdaq 1,571.74 +62.43 +4.14% 
S&P 500 909.70 +33.63 +3.84% 
30-yr Bond 3.1520% +0.0420 

NYSE Volume 7,334,667,000 
Nasdaq Volume 2,340,814,750 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,300.06 +250.69 +6.19% 
DAX 4,715.88 +334.41 +7.63% 
CAC 40 3,247.48 +259.47 +8.68% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 8,329.05 +411.54 +5.20% 
Hang Seng 15,044.87 +1,198.78 +8.66% 
Straits Times 1,659.17 closed for holiday 

http://biz.yahoo.com/ap/081208/wall_street.html
*Wall Street extends big rally to 2nd session*
Monday December 8, 4:43 pm ET 
By Joe Bel Bruno and Tim Paradis, AP Business Writer  
*Stocks show sharp advances as investors cheer Obama spending plan, await Detroit bailout *

NEW YORK (AP) -- A stock market gaining in confidence shot higher for a second straight session Monday as investors bet that President-elect Barack Obama's plans to increase infrastructure spending will help lift the economy back to health. The major market indexes jumped more than 3 percent, and the Dow Jones industrials' nearly 300 point advance gave the blue chips their highest close in a month.

Obama's plan calls for the largest U.S. public works spending program since the creation of the interstate highway system a half-century ago. That could bolster the economy by putting thousands of people to work building schools and other construction projects.

His weekend announcement gave a lift to a range of companies, from machinery makers to materials producers. Alcoa Inc., the world's third-largest aluminum producer, surged 18 percent on the news; while heavy-equipment maker Caterpillar Inc. jumped 11 percent.

Investors also grew more confident as the government neared a deal to dole out billions to America's three biggest automakers. The White House said Monday that it was "very likely" to strike an agreement with Congress on funneling money to General Motors Corp., Chrysler LLC and Ford Motor Co. The package is expected to total about $15 billion.

The stock market has become more optimistic although a number of reports last week seemed to indicate the recession is showing no signs of weakening. As the week progressed, the market appeared to be taking the bad news in stride -- even Friday's Labor Department report that showed the nation lost more than a half million jobs last month. The report raised hopes that the government would take more steps to stimulate the economy.

"I think people recognize that the government is going to throw everything that they can at this market, everything they can at the economy to make it work," said James Cox, managing partner at Harris Financial Group. "We had bad jobs numbers on Friday. To be able to overcome those type of job losses and have that kind of rally, that is technically significant. If that doesn't make you bullish, I don't know what does."

According to preliminary calculations, the Dow rose 298.76, or 3.46 percent, to 8,934.18, its highest close since it finished at 9,139.27 on Nov. 5. The blue-chip index, which added 259 points on Friday, is now up for December.

Broader indexes also rose. The Standard & Poor's 500 index advanced 33.63, or 3.84 percent, to 909.70; and the Nasdaq composite index jumped 62.43, or 4.14 percent, to 1,571.74.

It was the ninth advance in 11 sessions for the Dow and the S&P 500.

The Russell 2000 index of smaller stocks rose 20.29, or 4.40 percent, to 481.38.

Bond prices fell as investors put money back into stocks. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.74 percent from 2.70 percent late Friday. The yield on the three-month T-bill, considered one of the safest investments, was unchanged at 0.01 percent, still indicating a high degree of investor uneasiness.

The dollar was mixed against other major currencies, while gold prices rose.

David Kelly, chief market strategist at JPMorgan Funds, said professional investors are being drawn to the market by cheap stock prices and a sense that while the economy is weak now it will eventually begin to regain its strength.

"The reality in the economy is it's getting worse but eventually the economy will turn around," he said. "Even if the economy is lousy in 2009 stocks are a long-term investment and are cheap."

Still, analysts said the market remains fragile.

Scott Fullman, director of derivative investment strategies with WJB Capital, warned that the move higher for U.S. markets should be treated cautiously. He said credit still remains tight around the world, and that there are still a number of other worries hanging over the market.

"There's a chance we could be higher for the day, but I'd be very cautious about jumping in with both feet and expecting what could be a Santa Claus rally going into the New Year," he said. "The fact is, we're not seeing the credit markets opening up, we're not seeing buying of the distressed debt, and that leads to additional worries for stocks."

With little in the way of economic data to trade on, investors closely monitored corporate news for direction.

Among the automakers, GM rose 85 cents, or 21 percent, to $4.93, while Ford rose 66 cents, or 24.2 percent, to $3.38. Chrysler isn't publicly traded.

Consumers hungry for a deal boosted worldwide sales at McDonald's Corp.'s established locations by 7.7 percent in November. The company said that U.S. same-store sales -- or sales at locations open at least a year -- rose 4.5 percent. Shares of the company fell $1.80, or 2.9 percent, to $60.92.

Dow Chemical Co. rose $1.37, or 7.2 percent, to $20.37 after the company announced it will slash 5,000 jobs and shutter 20 plants to rein in costs. It expects to save about $700 million per year by 2010.

3M Co. is cutting 1,800 jobs in the fourth quarter and ordering some workers to take vacation or unpaid time off for the last two weeks of the year. The Maplewood, Minn.-based manufacturer had earlier announced 1,000 job cuts in the third quarter. The 1,800 new layoffs will come from the U.S., Western Europe and other developed nations. The company also lowered its 2008 earnings outlook and forecast 2009 profit below Wall Street expectations, citing slowing revenue. The stock fell $2.47, or 4.1 percent, to $57.38.

Tribune Co. filed for bankruptcy Monday, as expected. The privately held owner of the Los Angeles Times and Chicago Tribune, other newspapers and the Chicago Cubs and Wrigley Field, is struggling with $13 billion in debt. A steep slump in advertising revenue has hurt the company. Most of its debt stems from a complex transaction in which the company was taken private by real estate mogul Sam Zell last year.

Oil prices bounced off four-year lows after OPEC's president suggested the group could surprise investors with a large production cut later this month. Light, sweet crude rose $2.90 to settle at $43.71 a barrel on the New York Mercantile Exchange.

The move higher follows a global rally as investors took heart from signs the world's largest economies are redoubling efforts to revive growth. In China, government officials this week are meeting to discuss possible new steps to expand the $586 billion stimulus that is already in place.

Hong Kong's Hang Seng index vaulted 8.7 percent to its highest close in seven weeks, while Japan's Nikkei 225 average rose 5.2 percent. Major European bourses also showed big gains. Britain's FTSE-100 climbed 6.2 percent, Germany's DAX jumped 7.6 percent, and France's CAC-40 surged 8.7 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street turned cautious Tuesday after a two-day rally and as downbeat corporate news reminded investors that the economy's troubles won't soon ease. Stocks tumbled while demand for the safety of government debt spiked.

The Dow Jones industrials fell 242 points, while broader indexes showed more moderate declines. Wall Street's uneven pullback illustrated the fragmented nature of the markets. Some investors snapped up hard-hit technology names, while a bleak forecast from FedEx Corp. made others fearful of stocks.

*The NYSE DOW closed LOWER -242.85 points -2.72% on Tuesday December 9*
Sym Last........ ........Change..........
Dow 8,691.33 -242.85 -2.72% 
Nasdaq 1,547.34 -24.40 -1.55% 
S&P 500 888.67 -21.03 -2.31% 
30-yr Bond 3.0750% -0.0770 

NYSE Volume 6,403,533,000 
Nasdaq Volume 2,311,763,750 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,381.26 +81.20 +1.89% 
DAX 4,779.11 +63.23 +1.34% 
CAC 40 3,297.80 +50.32 +1.55% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 8,395.87 +66.82 +0.80% 
Hang Seng 14,753.22 -291.65 -1.94% 
Straits Times 1,754.58 +95.41 +5.75% 

http://biz.yahoo.com/ap/081209/wall_street.html
*Stocks tumble after 2-day rally*
Tuesday December 9, 4:42 pm ET 
By Madlen Read and Tim Paradis, AP Business Writers  
*Stocks tumble on disappointing corporate news; demand for government debt remains high *

NEW YORK (AP) -- Wall Street turned cautious Tuesday after a two-day rally and as downbeat corporate news reminded investors that the economy's troubles won't soon ease. Stocks tumbled while demand for the safety of government debt spiked.

The Dow Jones industrials fell 242 points, while broader indexes showed more moderate declines. Wall Street's uneven pullback illustrated the fragmented nature of the markets. Some investors snapped up hard-hit technology names, while a bleak forecast from FedEx Corp. made others fearful of stocks.

Demand for ultra-safe Treasury bills spiked so high that investors were willing to earn no interest on their investments at a Treasury Department auction. Interest rates on four-week Treasury bills slid to zero from 0.04 percent a week earlier in a Treasury Department auction Tuesday.

"Investors truly don't want to buy into this market, they are willing to lose money safely like in Treasurys," said Chris Johnson, manager of quantitative analysis at Schaeffer's Investment Research in Cincinnati.

Investors are also worried that companies' difficulties could make an economic turnaround difficult. FedEx Corp. cut its forecast for fiscal 2009 earnings and capital spending late Monday as the slumping economy eroded package deliveries.

The stock market's retreat wasn't a surprise given the steep advance of the past two sessions. But the reasons for the selling weren't simply based on two days of gains, analysts said. Wall Street is still trying to determine how badly companies' woes will dent profits and how soon President-elect Barack Obama's plan to introduce a flood of public works spending could aid the economy.

"The markets are just expressing a tremendous amount of ambivalence about the future," said Marian Kessler, co-portfolio manager of the Becker Value Equity Fund in Portland, Ore. "The market is grappling with what is certainly going to be a fairly deep recession in 2009."

That caution means like volatility is likely to continue, observers said.

According to preliminary calculations, the Dow Jones industrial average fell 242.85, or 2.72 percent, to 8,691.33.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 21.03, or 2.31 percent, to 888.67. The Nasdaq composite index fell 24.40, or 1.55 percent, to 1,547.34.

The Russell 2000 index of smaller companies fell 15.67, or 3.26 percent, to 465.71.

Declining outnumbered advancers by more than 2 to 1 on the New York Stock Exchange, where volume came to 1.44 billion shares.

Bond prices rose after the Treasury auction and as stocks fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.65 percent from 2.74 percent late Monday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.03 percent, from 0.01 percent late Monday. Still, the low yields indicate a high degree of investor unease.

The dollar rose against most other major currencies, while gold prices slipped.

Oil prices fell even amid investor expectations that OPEC will announce a big production cut next week to curb crude's stunning 70 percent-free-fall over the past five months. Light, sweet crude fell $1.64 to settle at $42.07 a barrel on the New York Mercantile Exchange.

Investors' anxiety about the struggling economy has recently been accompanied by some hopes that market might be carving a bottom. On Friday and Monday, the Dow logged a two-day rally of 560 points.

Those gains came as the market tried to look at how the economy might be faring next year. Typically, Wall Street looks six to nine months ahead.

"The economic news still stinks ... but what's going on is that people are no longer looking at the present. They're looking at the future," said Alfred E. Goldman, chief market strategist at Wachovia Securities in St. Louis. "They're beginning to assess that all the dramatic fiscal and monetary stimulus already on the table and more to come will turn this economic around maybe next summer."

Still, when it comes to a potential stock market rebound, "it's not going to be a one-way trip," Goldman said. "We still have a ton of dismal news, and so much technical and emotional damage done, that investor confidence is going to come back slowly, not quickly."

Wall Street is waiting for lawmakers to finish negotiating a $15 billion bailout for General Motors Corp. and Chrysler LLC. A deal, which might occur as early as Wednesday, reportedly would give the government an ownership stake in the automakers. The market has been concerned that a collapse of GM, Chrysler or Ford Motor Co. would trigger massive job losses, and further stymie the government's efforts to lift the U.S. out of a recession.

GM fell 23 cents, or 4.7 percent, to $4.70, while Ford fell 15 cents, or 4.4 percent, to $3.23. Chrysler LLC isn't publicly traded.

FedEx fell $10.78, or 14.5 percent, to $63.65 after issuing its forecast.

But in a sign that the market is still willing to place some bets on an eventual recovery in the economy, companies that make microchips saw some buying Tuesday despite a disappointing forecast from Texas Instruments Inc. Some investors are anxious that they could miss a market bottom when defensive names like consumer goods companies likely would lag somewhat riskier bets like tech stocks.

Texas Instruments rose 73 cents, or 4.9 percent, to $15.55, while Intel Corp. rose 36 cents, or 2.6 percent, to $14.30.

Stock markets were mixed overseas. Hong Kong's Hang Seng index closed down 1.94 percent after a big surge on Monday, while Japan's Nikkei 225 added 0.80 percent. Major European bourses rose. Britain's FTSE-100 added 1.89 percent, Germany's DAX advanced 1.34 percent and France's CAC-40 rose 1.55 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow and the Standard & Poor's 500 index have now advanced in 10 of the last 13 sessions.

Wall Street climbed back on an upward track Wednesday, rising in late trading as a surge in gold and other commodities prices gave investors a reason to snap up energy and materials stocks.

But the market's closing levels masked the fact that it was a confusing day on the Street. Investors had sent stocks higher until mid-afternoon on expectations of a bailout for the Detroit automakers, but the market forfeited that advance on signs that the plan was running into opposition from Republican lawmakers. Investors then set aside their uncertainty, and plowed back into stocks as they saw the rebound in commodities.

*The NYSE DOW closed HIGHER +70.09 points +0.81% on Wednesday December 10*
Sym Last........ ........Change..........
Dow 8,761.42 +70.09 +0.81% 
Nasdaq 1,565.48 +18.14 +1.17% 
S&P 500 899.24 +10.57 +1.19% 
30-yr Bond 3.0950% +0.0200 

NYSE Volume 5,996,972,500 
Nasdaq Volume 2,006,243,250 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,367.28 -13.98 -0.32% 
DAX 4,804.88 +25.77 +0.54% 
CAC 40 3,320.31 +22.51 +0.68% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 8,660.24 +264.37 +3.15% 
Hang Seng 15,577.74 +824.52 +5.59% 
Straits Times 1,821.70 +67.12 +3.83% 

http://biz.yahoo.com/ap/081210/wall_street.html
*Stocks resume climb after one-day sell-off*
Wednesday December 10, 5:37 pm ET 
By Joe Bel Bruno and Tim Paradis, AP Business Writer  
*Stocks bounce back from one-day sell-off to resume advance; energy, materials lead gains *


NEW YORK (AP) -- Wall Street climbed back on an upward track Wednesday, rising in late trading as a surge in gold and other commodities prices gave investors a reason to snap up energy and materials stocks.

But the market's closing levels masked the fact that it was a confusing day on the Street. Investors had sent stocks higher until mid-afternoon on expectations of a bailout for the Detroit automakers, but the market forfeited that advance on signs that the plan was running into opposition from Republican lawmakers. Investors then set aside their uncertainty, and plowed back into stocks as they saw the rebound in commodities.

Gold picked up $34.70 an ounce to close at $807.10 on the New York Mercantile Exchange, lifted by a weaker dollar, but also because investors seemed to be more willing to take on some risk -- a trend that has also been apparent in the recent rally on Wall Street. Oil prices also rose on the Nymex, settling up $1.45 at $43.52.

In turn, companies that make their money from commodities, including Exxon Mobil Corp., which rose 2.4 percent, and mining company Freeport-McMoRan Copper & Gold Inc., which added 16 percent, rallied, boosting the rest of the stock market.

Richard E. Cripps, chief market strategist for Stifel Nicolaus, remains cautious but said the rise in commodities suggests that some investors are betting on an economic rebound. "At this point in time, commodities going up are a welcome sign," he said.

Still, investors are extremely wary about the many trouble spots in the global economy. And so shifting sentiment over a possible bailout deal for Detroit's Big Three automakers tugged at stocks throughout the session -- including financial stocks. Financial houses that hold investments in the car companies could see further strain on their balance sheets if big players like General Motors Corp. file bankruptcy.

Democrats in Congress and the White House finalized an agreement on $14 billion in loans for Detroit's struggling car companies. However, the plan negotiated by the White House is being opposed by a group of conservatives led by Sen. John Ensign, R-Nev.

The proposal would provide relief for General Motors Corp. and Chrysler LLC. Ford Motor Co. Chief Executive Alan Mulally and Executive Chairman Bill Ford Jr. told The Associated Press Tuesday they don't need to take the bailout.

The Dow Jones industrial average rose 70.09, or 0.81 percent, to 8,761.42. On Tuesday, the Dow shed 243 points as investors after disappointing corporate news reminded investors of the magnitude of the economy's troubles. But the Dow and the Standard & Poor's 500 index have now advanced in 10 of the last 13 sessions.

The S&P 500 index rose 10.57, or 1.19 percent, to 899.24, and the Nasdaq composite index rose 18.14, or 1.17 percent, to 1,565.48. The Russell 2000 index of smaller companies rose 10.69, or 2.30 percent, to 476.40.

Since reaching multiyear trading lows on Nov. 20, the Dow has risen 16 percent and the broader S&P 500 has risen 19.5 percent, while the Nasdaq is up 19 percent.

"I think what you have now is people are looking among the carnage and saying wait a minute, maybe the baby was thrown out with the bath water" during the devastating selling of October and November, said John Merrill, chief investment officer at Tanglewood Wealth Management.

The number of stocks advancing on the New York Stock Exchange Wednesday outpaced those declining by 2 to 1. Volume came to a light 1.31 billion shares.

In the Treasury market, the four-week bill auctioned with a zero percent yield on Tuesday saw that rate increase. The yield rose to 0.05 percent after having been auctioned on Tuesday with a yield of zero percent. The auction was a dramatic sign of how cautious investors are -- they are willing to park their money for the short term in investments that will pay them nothing at all but that will preserve their principal.

The yield on the three-month T-bill fell to 0.01 percent from 0.03 percent late Tuesday, also indicating a high degree of investor unease. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.68 percent from 2.65 percent late Tuesday.

The dollar was lower against most other major currencies, which helped feed the rally in commodities.

The market was also watching American International Group Inc., which said Wednesday it is trying to work out plans to square away $10 billion lost in bad trades without turning to tax payers for more money. Last month, the government said it would provide $150 billion to help the insurer remain afloat after tight credit markets made it difficult to access cash.

"I think the fear is that there is going to be a continued need to raise capital," Ryan Larson, head of equities trading at Voyageur Asset Management, said of the financial sector.

That fed worries that other financial houses might be facing their own troubles after placing wrong bets in the unforgiving markets in recent months. The concerns rippled through financial services stocks, causing banks including Citigroup Inc. to give up early gains.

AIG fell 18 cents, 9.3 percent, to $1.75, while Citigroup fell 24 cents, or 2.8 percent, to $8.30 and JPMorgan Chase & Co. fell 44 cents, or 1.3 percent, to $33.52. Morgan Stanley fell 37 cents, or 2.5 percent, to $14.60.

GM declined 10 cents, or 2.1 percent, to $4.60, while Ford rose 2 cents, or 0.6 percent, to $3.25. Chrysler isn't publicly traded.

Overseas, Hong Kong's Hang Seng index closed up 5.59 percent, while Japan's Nikkei 225 added 3.15 percent. Britain's FTSE-100 fell 0.32 percent, Germany's DAX added 0.54 percent, and France's CAC-40 rose 0.68 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street's anxiety about Detroit automakers welled up Thursday, sending stocks sharply lower in an afternoon sell-off as investors grew fearful that a bill to rescue the companies wouldn't make it through the Senate.

The pullback follows mostly moderate moves in stocks since mid-November and is a fresh reminder of investors' fears about the economy.

*The NYSE DOW closed LOWER -196.33 points -2.24%  on Thursday December 11*
Sym Last........ ........Change..........
Dow 8,565.09 -196.33 -2.24% 
Nasdaq 1,507.88 -57.60 -3.68% 
S&P 500 873.59 -25.65 -2.85% 
10 Yr Bond(%) 2.6480% -0.0360 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,388.69 +21.41 +0.49% 
DAX 4,767.20 -37.68 -0.78% 
CAC 40 3,306.13 -14.18 -0.43% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 8,720.55 +60.31 +0.70% 
Hang Seng 15,613.90 +36.16 +0.23% 
Straits Times 1,794.16 -27.54 -1.51% 

http://biz.yahoo.com/ap/081211/wall_street.html
*Wall Street tumbles on auto bailout worries*
Thursday December 11, 5:46 pm ET 
By Joe Bel Bruno and Tim Paradis, AP Business Writer  
*Stocks retreat as investors worry government won't extend aid to automakers; Dow falls 196 *

NEW YORK (AP) -- Wall Street's anxiety about Detroit automakers welled up Thursday, sending stocks sharply lower in an afternoon sell-off as investors grew fearful that a bill to rescue the companies wouldn't make it through the Senate.

The pullback follows mostly moderate moves in stocks since mid-November and is a fresh reminder of investors' fears about the economy.

Prospects for the $14 billion in loans to cash-starved General Motors Corp. and Chrysler LLC dimmed Thursday afternoon as opposition from both parties mounted. At the close of trading, the bill was stalled in the Senate, though negotiations were continuing, according to congressional staffers.

Lawmakers opposed to the plan argued that any government support should require significant cuts in wages and benefits for autoworkers. The House approved the plan late Wednesday on a vote of 237-170 to infuse money within days to the two struggling automakers. Ford Motor Co. has said it does not need aid.

The heads of the three automakers said that even one of the companies going into bankruptcy would slam an already battered economy with thousands of job losses. The government reported a surprise jump in weekly unemployment claims Thursday, nearly a week after it said the nation's unemployment rose to a 15-year high in November.

Wall Street has been betting Washington would extend a lifeline to the automakers and even recovered early Thursday from a sell-off at the opening bell that followed the unemployment report and a surprise increase in the nation's trade deficit. But the worries about the carmakers overtook a market that managed to trade flat for much of the session.

"What we had was a little bit of a jumping of the gun, overreaction to the auto-rescue bill," said Jon Nadler, senior analyst at Kitco Bullion Dealers Montreal. "The Dow tried to put a good face on things, but at the end of the day, reality set in."

The Dow Jones industrial average fell 196.33, or 2.24 percent, to 8,565.09. The decline left the blue chips with a 0.81 percent loss for the week going into Friday's session.

The broader Standard & Poor's 500 index fell 25.65, or 2.85 percent, to 873.59, and the Nasdaq composite index fell 57.60, or 3.68 percent, to 1,507.88.

The Russell 2000 index of smaller companies tumbled 25.19, or 5.3 percent, to 451.21 as investors looked for the safety of larger companies expected to fare better in a weak economy.

Declining issues on the New York Stock Exchange outnumbered advancers by more than 3 to 1, while trading volume came to a moderate 1.47 billion shares. Lighter trading can exacerbate the market's swings.

"What's going to happen in the Senate is really weighing on the market in a big way," said Robert Froehlich, chief investment strategist for DWS Investments. He contends that a failure of the auto bailout would trigger a reaction similar to what occurred when the government's financial sector rescue plan didn't make it out of Congress on the first try. The Dow tumbled 777 points on Sept. 29 as the plan failed an initial House vote.

Even with Thursday's pullback, stock trading has been generally more orderly since the S&P 500 and the Dow hit multiyear lows on Nov. 20. The Dow remains up 13.4 percent since then, while the S&P 500 is up 16.1 percent. Even some big moves in stocks in recent weeks don't compare with the enormous swings in September and October.

One measure of unease in the market is still elevated but well off its highs. The Chicago Board Options Exchange Volatility Index, known as the VIX, is at 56. Ordinarily what's known as Wall Street's fear gauge might be in the 20s and 30s but it had near 90 in October.

Ed Hyland, global investment specialist for J.P. Morgan's Private Bank, said investors are hoping the government's medicine, from interest rate cuts to financial infusions in banks, will eventually help lift the economy but that it remain unclear how long a recovery might take.

"There is still a high degree of uncertainty out there," he said. "All you have to do is look at the Treasury market to get a gauge of how much fear there is in the overall investment community."

In Treasurys, the yield on the three-month T-bill stood at 0.02 percent, unchanged from late Wednesday. The modest yield still indicates a high degree of investor unease. The yield on the benchmark 10-year Treasury note, which also moves opposite its price, fell to 2.63 percent from 2.69 percent late Wednesday.

The one-month T-bill's yield was at 0.01 percent, down from 0.04 percent late Wednesday. It was auctioned on Tuesday with a yield of zero percent, a sign that institutional and foreign investors were so eager to preserve principal they were willing to forgo interest.

The dollar was mostly lower against most other major currencies, while gold rose.

Oil prices surged 10 percent as the dollar weakened and as investors hoped for a significant OPEC production cut next week to boost the market. Light, sweet crude jumped $4.46 to settle at $47.98 a barrel on the New York Mercantile Exchange.

Chevron Corp. rose $1.02, or 1.3 percent, to $79.46 following the jump in oil, while Hess Corp. advanced $3.02, or 6.8 percent, to $47.71.

Automakers declined as investors worried about the prospects for a bailout. GM fell 48 cents, or 10.4 percent, to $4.12, while Ford fell 35 cents, or 10.8 percent, to $2.90. Chrysler isn't publicly traded.

Financials fell amid worries about their balance sheets. US Bancorp warned it is earmarking more than $1 billion in the fourth quarter for bad loans. US Bancorp fell $2.82, or 10.2 percent, to $24.85. JPMorgan Chase & Co. fell $3.58, or 10.7 percent, to $29.94, while Wells Fargo & Co. declined $3.29, or 11.3 percent, to $25.90. of Wall Street's projections.

Overseas, Japan's Nikkei 225 added 0.70 percent. Britain's FTSE-100 rose 0.49 percent, Germany's DAX fell 0.78 percent, and France's CAC-40 lost 0.43 percent.


----------



## bigdog

YSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average ended the week down 5.74, or 0.07 percent, at 8,629.68. The Standard & Poor's 500 index finished up 3.66, or 0.42 percent, at 879.73. The Nasdaq composite index ended the week up 31.41, or 2.08 percent, at 1,540.72.

Since its Nov. 20 low, the Dow is up 14.3 percent, the Standard & Poor's 500 is up 16.9 percent and the Nasdaq composite index has seen a gain of 17.1 percent. 

Wall Street put on another impressive show of resilience Friday, rebounding from an early sell-off to end higher after the government said it would assist troubled U.S. automakers.

The market, which just a week earlier withstood a terrible November employment report, managed its advance after the Treasury Department said it was prepared to assist the nation's Big Three automakers. The Dow Jones industrial average had fallen more than 200 points in early trading after the Senate had killed a $14 billion bailout package for the companies.


*The NYSE DOW closed HIGHER +64.59 points 	+0.75% on Friday December 12*
Sym Last........ ........Change..........
Dow	8,629.68	+64.59	+0.75%
Nasdaq	1,540.72	+32.84	+2.18%
S&P 500	879.73	+6.14	+0.70%
30-yr Bond	3.0640%	-0.0250

NYSE Volume	6,033,581,500
Nasdaq Volume	1,916,089,500

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,280.35	-108.34	-2.47%
DAX	4,663.37	-103.83	-2.18%
CAC 40	3,213.60	-92.53	-2.80%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,235.87	-484.68	-5.56%
Hang Seng	14,758.39	-855.51	-5.48%
Straits Times	1,740.34	-53.82	-3.00%

http://finance.yahoo.com/news/Stocks-advance-amid-hope-for-apf-13823363.html
*Stocks advance amid hope for automaker rescue
Stocks advance on hopes for automaker rescue as Treasury says it will support Detroit*

NEW YORK (AP) -- Wall Street put on another impressive show of resilience Friday, rebounding from an early sell-off to end higher after the government said it would assist troubled U.S. automakers.

The market, which just a week earlier withstood a terrible November employment report, managed its advance after the Treasury Department said it was prepared to assist the nation's Big Three automakers. The Dow Jones industrial average had fallen more than 200 points in early trading after the Senate had killed a $14 billion bailout package for the companies.

"It's hard to say if this is indeed the beginning of a recovery, but it could be," said Matt King, chief investment officer of Bell Investment Advisors. "It seems like the past few Fridays we've ended the week on a positive note."

A week ago, the market shook off the Labor Department's report that the economy lost a larger than expected 533,000 jobs in November. Investors are showing a greater tolerance for bad economic and corporate news, and many analysts believe that the market may have reached a bottom after the horrific selling of the past three months.

Since its Nov. 20 low, the Dow is up 14.3 percent, the Standard & Poor's 500 is up 16.9 percent and the Nasdaq composite index has seen a gain of 17.1 percent. Still, from their October 2007 highs, the Dow remains down by 39.1 percent and the S&P 500 index is down 44 percent. The Nasdaq, which peaked at the start of the decade, is down 46.1 percent from its recent top.

Many analysts believe Wall Street is growing more confident that the government's steps to stimulate the economy, including its $700 billion bank bailout program, will work. And so news that the Treasury Department could help prevent bankruptcy filings and job losses in the auto industry helped turn the market around Friday.

"Things are looking a little bit brighter after they made those announcements," said Anthony Conroy, managing director and head trader for BNY ConvergEx Group.

General Motors Corp. and Chrysler LLC have said they could run out of cash within weeks without government help. Ford Motor Co., which would also be eligible for aid under the bill, has said it has enough cash to make it through next year.

Some of the market's moves Friday were with an eye toward next week's Federal Reserve decision on interest rates. The two-day meeting begins Monday; the Fed is widely expected to lower its key federal funds rate half a percentage point to 0.5 percent, another step by the government toward lifting the economy out of recession.

The Dow rose 64.59, or 0.75 percent, to 8,629.68. The Dow tumbled 196 points Thursday as worries intensified that the auto bill would stall in the Senate.

The S&P 500 index rose 6.14, or 0.70 percent, to 879.73, and the Nasdaq rose 32.84, or 2.18 percent, to 1,540.72.

For the week, the Dow ended with a loss of fewer than 6 points, or 0.07 percent. The S&P 500 rose 0.42 percent, while the Nasdaq advanced 2.08 percent because of Friday's gains. For the year, the Dow is down 34.9 percent, the S&P 500 is down 40.1 percent and the Nasdaq is off 41.9 percent.

The Russell 2000 index of smaller companies rose 17.22, or 3.82 percent, to 468.43 Friday.

The number of stocks advancing outpaced decliners by 3-to-2 on the New York Stock Exchange, where consolidated trading volume came to 5.12 billion shares compared with 5.39 billion Thursday.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.58 percent from 2.63 percent late Thursday. The yield on the three-month T-bill rose to 0.04 percent from 0.02 percent late Thursday. The bill has been in great demand because of the safety it offers investors.

The dollar was mixed against other major currencies, while gold prices declined.

Light, sweet crude fell $1.70 to settle at $46.28 on the New York Mercantile Exchange.

The day's economic news showed continuing weakness, but, as it has done with a steady stream of downbeat data in recent weeks, the market shrugged.

The Labor Department said wholesale prices sank in November for the fourth straight month, raising deflation fears. The Producer Price Index fell a greater-than-expected 2.2 percent as prices for gasoline and other energy prices retreated. That followed a record 2.8 percent drop in October.

Businesses also slashed inventories in October by the largest amount in five years. The Commerce Department said businesses cut what was on shelves and back lots by 0.6 percent, triple the 0.2 percent decline economists expected.

The Commerce Department said retail sales fell by 1.8 percent in November. The decline was less than the 1.9 percent slide economists expected but the drop marked the fifth straight monthly decline -- a period of weakness never before seen on the government's retail sales records.

Next week's readings include the Consumer Price Index and housing starts for November.

The week also brings quarterly results from Wall Street's brokerages, which have been badly hurt by the stock market's tumble, the slowdown in the economy and the freeze-up in the credit markets.

GM ended down 18 cents, or 4.4 percent, at $3.94 after declining as much as 37 percent in the session. Ford rose 14 cents, or 4.8 percent, to $3.04. Chrysler isn't publicly traded.

But even a potential lifeline for Detroit couldn't ease all the concerns about job losses. Bank of America Corp. said late Thursday it expected to cut as many as 35,000 jobs over the next three years, including some from investment bank Merrill Lynch & Co., which it agreed to buy in September. Bank of America rose 2 cents to $14.93.

Investors grappled with further prospects of diminished confidence in Wall Street. Late Thursday, Wall Street veteran Bernard L. Madoff was arrested on a securities fraud charge. Madoff, who 18 years ago was chairman of the Nasdaq stock market, was accused of running a phony investment business that lost at least $50 billion and that he called a "giant Ponzi scheme," prosecutors said.

"It's not a happy day when you see a $50 billion fraud," said Ken Mayland, president of research firm ClearView Economics. "Things like that will just erode the public's confidence in the market."

Overseas, Japan's Nikkei stock average fell 5.56 percent. Britain's FTSE 100 fell 2.47 percent, Germany's DAX index slid 2.18 percent, and France's CAC-40 declined 2.80 percent.

The Dow Jones industrial average ended the week down 5.74, or 0.07 percent, at 8,629.68. The Standard & Poor's 500 index finished up 3.66, or 0.42 percent, at 879.73. The Nasdaq composite index ended the week up 31.41, or 2.08 percent, at 1,540.72.

The Russell 2000 index finished the week up 7.34, or 1.59 percent, at 468.43.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended at 8,800.18, up 63.04 points, or 0.72 percent, for the week. A year ago, the index was at 14,993.96.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors sent stocks lower Monday as anxiety over the growing list of firms affected by investment manager Bernard Madoff and the potential losses to the financial sector took center stage on Wall Street.

Investors also were nervous ahead of earnings reports later this week from the country's two largest investment banks, Goldman Sachs Group Inc. and Morgan Stanley.

Stocks had traded mixed early on as investors were relieved to hear that President George W. Bush was working on providing short-term government help for the auto industry. The Senate's rejection of a $14 billion bailout for automakers last week had raised the possibility of a major bankruptcy, which some analysts say would result in as many as 3 million U.S. job losses next year.


*The NYSE DOW closed LOWER -65.15 points -0.75%  on Monday December 15*
Sym Last........ ........Change..........
Dow 8,564.53 -65.15 -0.75% 
Nasdaq 1,508.34 -32.38 -2.10% 
S&P 500 868.57 -11.16 -1.27% 
30-yr Bond 3.0010% -0.0630 

NYSE Volume 4,997,949,500 
Nasdaq Volume 1,677,887,120 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,277.56 -2.79 -0.07% 
DAX 4,654.82 -8.55 -0.18% 
CAC 40 3,185.66 -27.94 -0.87% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 8,664.66 +428.79 +5.21% 
Hang Seng 15,046.95 +288.56 +1.96%  
Straits Times 1,774.76 +34.42 +1.98% 

http://biz.yahoo.com/ap/081215/wall_street.html
Stocks end lower as Madoff victim list grows
Monday December 15, 5:04 pm ET  
Wall Street ends lower as Madoff victim list grows, investors await Goldman Sachs report 


NEW YORK (AP) -- Investors sent stocks lower Monday as anxiety over the growing list of firms affected by investment manager Bernard Madoff and the potential losses to the financial sector took center stage on Wall Street.

Investors also were nervous ahead of earnings reports later this week from the country's two largest investment banks, Goldman Sachs Group Inc. and Morgan Stanley.

Stocks had traded mixed early on as investors were relieved to hear that President George W. Bush was working on providing short-term government help for the auto industry. The Senate's rejection of a $14 billion bailout for automakers last week had raised the possibility of a major bankruptcy, which some analysts say would result in as many as 3 million U.S. job losses next year.

But as that fear eased somewhat, it gave way to concerns about companies' exposure to Madoff's fund. Well respected in the investment community after serving as chairman of the Nasdaq Stock Market, Madoff was arrested Thursday for orchestrating what prosecutors say was a $50 billion Ponzi scheme to defraud investors.

Firms with exposure include HSBC Holdings PLC, Banco Santander, BNP Paribas, Royal Bank of Scotland Group PLC and hedge fund Man Group PLC.

"The investor psyche is already quite fragile. Scandals like this just add fuel to the fire," said Alan Gayle, senior investment strategist for RidgeWorth Capital Management.

In addition to the potential for hefty writedowns related to the losses, investors also fear redemptions will increase as investors pull money out of funds in order to counter their losses from Madoff-related investments.

"If you start to see those redemptions building, it's going to add more selling pressure on the market," said Quincy Krosby, chief investment strategist at The Hartford Financial Services Group Inc.

Wall Street is also anticipating a bleak report from Goldman Sachs on Tuesday. Analysts are expecting the investment bank to report a loss of $3.50 per share, according to a poll by Thomson Reuters. It would be Goldman's first quarterly loss since it went public in 1999. Morgan Stanley reports results on Wednesday.

According to preliminary calculations, the Dow Jones industrial average fell 65.15, or 0.75 percent, to 8,564.53. The Standard & Poor's 500 index lost 11.16, or 1.27 percent, to 868.57, while the Nasdaq composite index fell 32.38, or 2.10 percent, to 1,508.34.

The Russell 2000 index of smaller companies fell 17.63, or 3.76 percent, to 450.80.

Declining issues outnumbered advancers by about 3 to 1 on the New York Stock Exchange, where volume came to a light 1.21 billion shares.

Volume is expected to remain light this week, the last full week of trading this year, ahead of the holidays. Analysts were quick to point out that light volume often skews the market's moves.

"There doesn't seem to be a whole lot of activity in the market right now," said Joe Keetle, senior wealth manager of Dawson Wealth Management. "On small volume, the market can move dramatically one way or the other."

Investors also seemed hesitant to make any major moves ahead of the Federal Reserve's Tuesday decision on interest rates. Some analysts anticipate policy makers will cut the key rate by a half-point to 0.5 percent, while others expect a three-quarter-point reduction to 0.25 percent -- which would be the lowest key rate on records going back to 1954.

"A Fed ease this week has long been anticipated by the market; the only news would be if the Fed did not cut," Gayle said. He added that the market will probably pay close attention to the statement the central bank releases about the economy and the possibility of future policy actions.

Despite Monday's moderate decline, investors have been showing a greater tolerance for bad economic and corporate news in recent sessions, leading some analysts to believe that the market may be showing some stability after the horrific selling of the past three months.

The Dow ended last week down 0.07 percent; the S&P 500 index finished the week up 0.42 percent; and the Nasdaq composite index ended the week up 2.08 percent. Still, the Dow is down about 35 percent for the year, while the S&P 500 and Nasdaq are down more than 40 percent.

"The market has recently done a very good job with absorbing bad news," Krosby said. "The key is no major surprises for the market."

In addition to a rate cut, investors are anticipating some sort of resolution for the auto industry this week.

Following the legislative defeat on Thursday, the administration said it was considering several options. Bush reiterated Monday that he remains open to tapping the $700 billion financial bailout fund to help the companies.

General Motors Corp. and Chrysler LLC are seeking the funding, while Ford Motor Co. has said it has enough cash to survive 2009.

GM was the biggest gainer among the 30 stocks that make up the Dow, rising 14 cents, or 3.6 percent, to close at $4.08. The biggest loser Monday was JPMorgan Chase & Co., which fell $2.31, or 7.5 percent, to $28.63, alongside other declining financial stocks.

The Madoff scandal only added to investors' growing fears about the financial sector -- namely that banks will report more losses in the fourth quarter due to the major market turmoil throughout the period.

Goldman Sachs fell $1.28 to $66.46, while Morgan Stanley lost 21 cents to $13.64.

In economic data, the Fed reported a decline in November industrial production, while the New York Fed reported a massive contraction in regional manufacturing activity.

Bond prices edged higher Monday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.50 percent late Monday from 2.58 percent late Friday. The yield on the three-month T-bill -- a safe short-term asset that's in very high demand -- dipped to 0.02 percent late Monday from 0.04 percent late Friday.

The dollar fell against the euro and the British pound, but rose against the Japanese yen. Gold prices rose.

Light, sweet crude for January delivery peaked briefly above $50 early Monday, but then fell $1.77 from Friday's level to settle at $44.51 a barrel on the New York Mercantile Exchange.

Markets overseas were mixed. Japan's Nikkei stock average rose 5.21 percent, while Hong Kong's Hang Seng index rose 1.96 percent. Britain's FTSE 100 slipped 0.07 percent, Germany's DAX index fell 0.18 percent, and France's CAC-40 fell 0.87 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The last hour again saves the day!*

A surprised Wall Street bolted higher Tuesday after the Federal Reserve's historic decision to further slash interest rates and pledge broad support to revive the troubled economy.

The Dow Jones industrials surged 360 points, or 4.2 percent, and broader indexes jumped more than 5 percent after the central bank said it will use "all available tools" to jump-start the economy. It also set its target for the rate at which banks lend to each other to a range of zero to 0.25 percent, the lowest level on record.

Demand for long-term government bonds increased and pushed yields to record lows.


*The NYSE DOW closed HIGHER +359.61 points +4.20%  on Tuesday December 16*
Sym Last........ ........Change..........
Dow 8,924.14 +359.61 +4.20% 
Nasdaq 1,589.89 +81.55 +5.41% 
S&P 500 913.18 +44.61 +5.14% 
30-yr Bond 2.8740% -0.1270 

NYSE Volume 6,626,136,000 
Nasdaq Volume 2,248,450,750 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,309.08 +31.52 +0.74% 
DAX 4,729.91 +75.09 +1.61% 
CAC 40 3,251.66 +66.00 +2.07% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 8,568.02 -96.64 -1.12% 
Hang Seng 15,130.21 +83.26 +0.55% 
Straits Times 1,770.64 -4.12 -0.23% 

http://biz.yahoo.com/ap/081216/wall_street.html
*Stocks surge as Fed pledges broad economic support*
Tuesday December 16, 5:13 pm ET  
*Stocks surge as Fed slashes interest rates to record lows, pledges broad support for economy *

NEW YORK (AP) -- A surprised Wall Street bolted higher Tuesday after the Federal Reserve's historic decision to further slash interest rates and pledge broad support to revive the troubled economy.

The Dow Jones industrials surged 360 points, or 4.2 percent, and broader indexes jumped more than 5 percent after the central bank said it will use "all available tools" to jump-start the economy. It also set its target for the rate at which banks lend to each other to a range of zero to 0.25 percent, the lowest level on record.

Demand for long-term government bonds increased and pushed yields to record lows.

The promise of further government action and a Swiss-army-knife approach for mending the economy damped concerns that policymakers were running low on tools to fan the economy by further lowering interest rates.

The idea that the Fed will likely proceed with plans to snap up government and mortgage debt made it easier for investors to place bets that the central bank will do what is necessary to help bring an end to the longest recession in a quarter-century.

"Today was a reminder that the Fed was on the case," said Jim McDonald, director of equity research at Northern Trust in Chicago. "It was a reaffirmation of their willingness to be very aggressive."

"What we heard today was not revolutionarily different but it was a reminder that they are committed to using their balance sheet to the fullest extent to repair the financial markets and stimulate the economy."

The Fed's unprecedented move to lower its fed funds target rate to a range of zero to 0.25 percent rather than a fixed point was a surprise. The move is an acknowledgment that rates in the marketplace had been well below the Fed's 1 percent target, which it set at its previous meeting on Oct. 29. The central bank also cut the lending rate for loans directly to banks.

Many analysts had expected the Fed would cut its fed funds rate to 0.5 percent from 1 percent.

"In some senses the whole point of this meeting was to say quit watching interest rates, watch the other things that we can and will do," said Bruce McCain, chief investment strategist at Key Private Bank in Cleveland.

Jack A. Ablin, chief investment officer at Harris Private Bank, said the fact that the Fed targeted a range for its fed fund rate indicates that policy makers did not want to bring the rate all the way to zero. Such a move could have had problematic implications for money market funds, whose fees could then outpace yields.

The Dow rose 359.61, or 4.20 percent, to 8,924.14 after having been up about 100 in subdued trading ahead of the Fed's announcement.

Broader stock indicators also rose. The Standard & Poor's 500 index advanced 44.61, or 5.14 percent, to 913.18, and the Nasdaq composite index rose 81.55, or 5.41 percent, to 1,589.89.

The Russell 2000 index of smaller companies rose 30.28, or 6.69 percent, to 482.85.

The number of stocks advancing outnumbered those declining by 5-to-1 on the New York Stock Exchange, where volume came to 1.54 billion.

Demand for government bonds surged. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.28 percent from 2.53 percent late Monday. The yield on the 30-year fell to a record low 2.75 from 2.99 percent late Monday.

Meanwhile, the yield on the popular three-month T-bill -- whose yield has at times gone negative due to frenzied buying -- was at 0.03 percent up from 0.02 percent late Monday.

The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude fell 91 cents to settle at $43.60 a barrel on the New York Mercantile Exchange.

The rate decision came on a day when investors received two more pieces of evidence on Tuesday that the economy was worsening: The Commerce Department reported a 18.9 percent drop in new home construction in November, while the Labor Department said consumer prices sank by 1.7 percent.

Richard E. Cripps, chief market strategist for Stifel Nicolaus, said the recent string of downbeat economic readings could eventually convince Wall Street that the economy has hit a bottom and could be poised for a modest recovery. In past downturns, the data remain weak long after the economy has began to recover.

"The idea is it's so bad that maybe it doesn't take much to go up from here," he said.

Wall Street remained nervous about the growing list of firms and individual investors affected by investment manager Bernard Madoff, who is accused of scamming investors.

Madoff, former chairman of the Nasdaq stock market, was arrested Thursday in what the Securities and Exchange Commission is calling one of the biggest Ponzi schemes on record. Investors of all sizes -- from major banks to small charities -- may record losses of more than $50 billion. Firms invested in his fund include such major European banks as HSBC Holdings PLC, Banco Santander, BNP Paribas, and Royal Bank of Scotland Group PLC.

Markets overseas were mixed. Japan's Nikkei stock average fell 1.12 percent, while Hong Kong's Hang Seng index rose 0.55 percent. Britain's FTSE 100 rose 0.74 percent, Germany's DAX index rose 1.61 percent, and France's CAC-40 rose 2.07 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street finished moderately lower Wednesday, as further signs of economic deterioration dampened investors' earlier enthusiasm about the Federal Reserve's record interest rate cut.

Stocks declined in the early going after a larger-than-expected loss from Morgan Stanley offered fresh evidence of the sizable obstacles the battered financial industry still faces. The company posted a loss of $2.37 billion, or $2.34 per share, for the fiscal fourth quarter. The report came a day after rival Goldman Sachs Group Inc. posted its first quarterly loss since going public in 1999.

*The NYSE DOW closed LOWER -99.80 points -1.12% on Wednesday December 17*
Sym Last........ ........Change..........
Dow 8,824.34 -99.80 -1.12% 
Nasdaq 1,579.31 -10.58 -0.67% 
S&P 500 904.42 -8.76 -0.96% 
30-yr Bond 2.6650% -0.2090 

NYSE Volume 5,976,743,000 
Nasdaq Volume 2,150,873,500 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,324.19 +15.11 +0.35% 
DAX 4,708.38 -21.53 -0.46% 
CAC 40 3,241.92 -9.74 -0.30% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 8,612.52 +44.50 +0.52% 
Hang Seng 15,460.52 +330.31 +2.18% 
Straits Times 1,779.29 -2.80 -0.16% 

http://biz.yahoo.com/ap/081217/wall_street.html
*Stocks finish lower as investors assess rate cut*
Wednesday December 17, 5:21 pm ET  
*Wall Street finishes lower as investors grapple with economic woes, impact of Fed rate cut *

NEW YORK (AP) -- Wall Street finished moderately lower Wednesday, as further signs of economic deterioration dampened investors' earlier enthusiasm about the Federal Reserve's record interest rate cut.

Stocks declined in the early going after a larger-than-expected loss from Morgan Stanley offered fresh evidence of the sizable obstacles the battered financial industry still faces. The company posted a loss of $2.37 billion, or $2.34 per share, for the fiscal fourth quarter. The report came a day after rival Goldman Sachs Group Inc. posted its first quarterly loss since going public in 1999.

Some selling had been expected after Tuesday's huge rally in which the Dow Jones industrial average rose more than 4 percent and other indexes gained more than 5 percent. The moves came after the central bank lowered its federal funds rate target to a range of zero to 0.25 percent -- the lowest levels on record.

But after briefly moving into positive territory, stocks struggled to hold on to the big gains logged the day before as investors grappled with signs of a worsening economy, including more layoffs and plunging oil prices, and the magnitude of the Fed's actions.

"This is a whole lot of new information for people to digest," said David Waddell, senior investment strategist and chief executive of Waddell & Associates. "Now we need time to sit back ... and figure out what it all means."

Some investors also likely took the Fed's sharp rate cut as an indication of how dire the global financial crisis and economic troubles really are.

The Fed's move was an unprecedented one aimed at boosting borrowing and lending. The central bank said Tuesday it anticipates the weak economy will keep the target rate low for "some time," and added that it is mulling the possibility of buying Treasurys -- in effect, printing new money.

Still, despite Wednesday's decline, investors have been rather resilient in recent trading sessions, an encouraging sign for analysts who believe the market might be entering a period of stability after the unrelenting selling of the past three months.

"Even if the market is down 100 points, the fact that it's been in a narrow trading range I think is very positive," Waddell said.

According to preliminary calculations, the Dow Jones industrial average fell 99.80, or 1.12 percent, to 8,824.34, after falling as many as 146 points earlier in the session. The Standard & Poor's 500 index slipped 8.76, or 0.96 percent, to 904.42, and the Nasdaq composite index fell 10.58, or 0.67 percent, to 1,579.31.

But the Russell 2000 index of smaller companies was up 3.74, or 0.77 percent, to 486.59.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where volume came to a light 1.34 billion shares.

Volume will likely remain light for the remainder of the year as investors break for the holidays. Light volume tends to skew the market's movements, and could increase volatility in the coming sessions, analysts said.

The Fed's action on Tuesday is expected to lower rates on everything from home equity loans to credit card loans. Mortgage rates are also expected to fall further after the Fed renewed its pledge to buy up billions of dollars of mortgage debt.

These moves could put billions of dollars into the pockets of consumers at a time when Americans have sharply cut back on spending amid rising unemployment and declining household wealth.

But many experts believe that the interest rate cuts alone won't be enough to jump-start the economy.

"It's a tall order to get them to go out and spend again," said Joseph LaVorgna, chief U.S. economist at Deutsche Bank. "That's why you also need a stimulus."

President-elect Barack Obama's advisers are currently contemplating an economic recovery plan that could cost as much as $1 trillion over two years.

Fresh evidence of a still-weakening job market only exasperated investors' concerns. The Cooper Tire and Rubber Co. said Wednesday it will cut 1,300 jobs and close a plant in Georgia, while Newell Rubbermaid Inc. is reducing its salaried work force by as much as 10 percent. The maker of products including Rubbermaid storage containers and Sharpie pens also slashed its fourth-quarter and full-year profit guidance.

"If you go back in history, every time you have an interest rate cut the market gets fairly euphoric," said Anthony Conroy, managing director and head trader for BNY ConvergEx Group. "We're in earnings season and I think there is some concern that the Fed is running out of ammunition and doesn't have many tools left, so people are really taking a hard look."

Investors are trying to make some sense of it all, said Anton Schutz, portfolio manager of Burnham Financial Industries Fund and Burnham Financial Services Fund.

"The debate that's going on here is, has the Fed fired all its bullets and can it do more?" he said.

Meanwhile, the fraud investigation of Wall Street money manager Bernard L. Madoff progressed Wednesday, as the Securities and Exchange Commission looked into the relationship between Madoff's niece and a former SEC attorney who reviewed Madoff's business.

SEC Chairman Christopher Cox blamed regulators for a decade-long failure to investigate Madoff, who is accused of running a $50 billion Ponzi scheme. Cox said staff attorneys never bothered to seek a formal commission-approved investigation that would have forced Madoff to surrender vital information under subpoena.

Some financial stocks rebounded late Wednesday. After being down by as much as 8 percent earlier, Morgan Stanley shares gained 37 cents, or 2.3 percent, to close at $16.50. Goldman Sachs added $2.78, or 3.7 percent, to $78.78.

Energy stocks slumped on falling oil prices. Chevron Corp. dropped $2.19, or 2.8 percent, to $76.82, while Exxon Mobil Corp. lost $2.08, or 2.5 percent, to $81.06.

Oil prices tumbled below $40 for the first time since the summer of 2004 Wednesday despite an announcement from OPEC that it planned a record production cut of 2.2 million barrels a day. Many analysts believe oil prices will continue falling next year amid weak demand.

Light, sweet crude for January delivery tumbled 8 percent, or $3.54, to settle at $40.06 a barrel on the New York Mercantile Exchange.

The dollar sank to a fresh two-month low against the euro and a 13-year low against the yen. Gold prices rose.

Bond prices extended sharp gains Wednesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.19 percent from 2.28 percent late Tuesday. The yield on the popular three-month T-bill -- whose yield has at times gone negative due to frenzied buying -- was at 0.01 percent down from 0.03 percent late Tuesday.

Overseas, Japan's Nikkei stock average rose 0.52 percent, while Hong Kong's Hang Seng index rose 2.18 percent. Britain's FTSE 100 rose 0.35 percent, Germany's DAX index fell 0.46 percent, and France's CAC-40 fell 0.30 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

For the week, the Dow ended down 0.59 percent, while the S&P 500 finished up 0.93 percent and the Nasdaq up 1.53 percent. All of the indexes are still down more than 35 percent for the year.

Stocks finished a bumpy session mostly higher Friday, as investors, while still somewhat cautious about the economy, were encouraged by the government's pledge to lend as much as $17.4 billion to U.S. automakers.

The Dow Jones industrial average finished down about 25 points, but both the broader Standard & Poor's 500 and Nasdaq composite indexes posted moderate advances, finishing higher for the second straight week in a row. Stocks that rose outpaced those that fell by about 2 to 1 on the New York Stock Exchange.

*The NYSE DOW closed LOWER -25.88 points	-0.30% on Friday December 19*
Sym Last........ ........Change..........
Dow	8,579.11	-25.88	-0.30%
Nasdaq	1,564.32	+11.95	+0.77%
S&P 500	887.88	+2.60	+0.29%
30-yr Bond	2.5620%	+0.0160

NYSE Volume	6,945,361,500
Nasdaq Volume	2,746,652,500

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,286.93	-43.73	-1.01%
DAX	4,696.70	-59.70	-1.26%
CAC 40	3,225.90	-8.25	-0.26%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,588.52	-78.71	-0.91%
Hang Seng	15,127.51	-370.30	-2.39%
Straits Times	1,795.47	-3.48	-0.19%

http://finance.yahoo.com/news/Stocks-end-bumpy-session-apf-13884894.html
*Stocks end bumpy session mostly higher*

 NEW YORK (AP) -- Stocks finished a bumpy session mostly higher Friday, as investors, while still somewhat cautious about the economy, were encouraged by the government's pledge to lend as much as $17.4 billion to U.S. automakers.

The Dow Jones industrial average finished down about 25 points, but both the broader Standard & Poor's 500 and Nasdaq composite indexes posted moderate advances, finishing higher for the second straight week in a row. Stocks that rose outpaced those that fell by about 2 to 1 on the New York Stock Exchange.

Though the session was choppy -- with the Dow rising as many as 182 points in early trading, then moving in and out of negative territory for much of the afternoon -- it was a relatively calm day on Wall Street compared with the wild swings experienced in September, October and early November.

In the early going, investors cheered the government's pledge to provide General Motors Corp. and Chrysler LLC with $13.4 billion in short-term financing, and another $4 billion at a later date.

The decision to provide emergency help to carry the struggling industry into the new year comes after a $14 billion bailout for the automakers failed to make it out of the Senate last week.

The companies' cash flows have been dwindling to a slow trickle due to the weak economy, slumping sales and the credit crunch.

But the aid hinges on conditions that must be quickly met; GM and Chrysler must prove viability, defined as positive cash flow and the ability to pay back government loans, by March 31. Ford Motor Co., meanwhile, is not asking for short-term assistance, but its CEO predicted the aid will stabilize the broader industry.

GM CEO Rick Wagoner said the company had much work ahead, but he was confident it could reinvent itself with the government help.

Some analysts expressed doubts.

"I think that there's a lot of skepticism about how much real reform we're likely to see, particularly at GM, given the parameters under which the loans have been made," said Alan Gayle, senior investment strategist at RidgeWorth Investments. "There is a lot of skepticism about whether GM is prepared to do what needs to be done."

Still, the government's move staved off, for the time being, a major bankruptcy that could have sent a debilitating blow to the economy and the labor market.

Investors have been concerned about the job market ramifications of a possible bankruptcy filing by an automaker like GM or Chrysler, which some analysts said could result in up to 3 million U.S. job losses. The government lost more than half a million jobs in November, and the Labor Department said Thursday that new claims for unemployment remained well above 500,000 last week. When unemployment rises, spending declines and credit deteriorates.

The White House's action Friday "prevents the collapse of a very high profile industry less than a week before Christmas," said Phil Orlando, chief equity market strategist at Federated Investors. "That's not to say that these guys won't collapse next March, but it takes it out of the headlines now, and takes the threat of an auto industry default off the table until next spring."

GM shares jumped 83 cents, or 23 percent, to close at $4.49, while Ford shares added 11 cents or 3.9 percent to $2.95. Chrysler is not publicly traded.

The Dow fell 25.88, or 0.30 percent, to 8,579.11. The Standard & Poor's 500 index rose 2.60, or 0.29 percent, to 887.88, while the Nasdaq composite index rose 11.95, or 0.77 percent, to 1,564.32.

For the week, the Dow ended down 0.59 percent, while the S&P 500 finished up 0.93 percent and the Nasdaq up 1.53 percent. All of the indexes are still down more than 35 percent for the year.

The technology-heavy Nasdaq was lifted by big gains from Oracle Corp. and Research In Motion Ltd., both of which released earnings reports after the bell on Thursday. Oracle's profit weakened for the first time in years, but its shares rose 7 percent as investors bet that the company will fare better than others as the economy struggles. BlackBerry-maker Research In Motion rallied $4.39, or 11 percent, to $42.83, after reporting better-than-expected revenue guidance for the fourth quarter and strong holiday sales of its new smart phones.

The Russell 2000 index of smaller companies rose 7.09, or 1.48 percent, to 486.26.

Consolidated volume on the NYSE came to 6.04 billion shares, up from 5.46 billion on Thursday.

Some analysts attributed much of the market's choppiness on Friday to the expiration of options contracts, as well as the routine rebalancing of stock indexes.

Earlier Friday, Treasury Secretary Henry Paulson said that Congress should release the second $350 billion from the rescue fund that it approved in October to bail out financial institutions. Paulson said tapping the fund for the auto industry basically exhausts the first half of the $700 billion total.

At the same time, he said he was confident that the Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. had the resources to address a significant market event if one should occur before Congress approves the use of the second half of the largest government bailout program in history.

Meanwhile, the industry that has already gotten billions in government funding -- the financial sector -- remains in sad shape. On Friday morning, Standard & Poor's downgraded its ratings on 11 major U.S. and European financial institutions, including Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co., and Wells Fargo & Co.

Citigroup shares sank 41 cents, or 5.5 percent, to $7.02. Wells Fargo slipped 29 cents to $29.36.

On Thursday, the stock market tumbled, shaken by a negative ratings outlook for industrial conglomerate and Dow component General Electric Co. A drop in oil prices also weighed on stocks, pulling down the energy sector and revealing how downbeat investors are about consumer demand.

The market's losses on Wednesday and Thursday erased most of the Dow's 360-point rally on Tuesday, which was sparked by the Federal Reserve's historic interest rate cut. The central bank set its target for the rate at which banks lend to each other to a range of zero to 0.25 percent, the lowest level on record, and vowed to use "all available tools" to jump-start the economy.

Still, analysts believe Wall Street has entered a period of relative stability, and the market's performance on Friday only reinforced that notion.

"Even though there's been a lot of really bad news coming out about the economy in the last few weeks, especially in unemployment numbers, the market hasn't been reacting negatively to that," said Richard Sparks, senior equities analyst at Schaeffer's Investment Research.

Since their multiyear lows on Nov. 20, the Dow is up 13.6 percent and the S&P 500 is up 18 percent.

Yields on long-term Treasurys recovered from record lows on Friday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.21 percent late Friday from 2.07 percent late Thursday. The yield on the popular three-month T-bill -- whose yield has at times gone negative due to frenzied buying -- was unchanged from late Thursday at zero.

The January contract for light, sweet crude, which expired Friday, fell $2.35 to settle at $33.87, the lowest close in nearly five years after falling at one point to $33.44.

The dollar rose against other major currencies. Gold prices fell.

Markets overseas were mostly lower. Japan's Nikkei stock average slipped 0.91 percent, while Hong Kong's Hang Seng index sank 2.39 percent. Britain's FTSE 100 was down 1.01 percent, Germany's DAX index fell 1.26 percent, and France's CAC-40 fell 0.26 percent.

The Dow Jones industrial average ended the week down 50.57, or 0.59 percent, at 8,579.11. The Standard & Poor's 500 index finished up 8.15, or 0.93 percent, at 887.88. The Nasdaq composite index ended the week up 23.60, or 1.53 percent, at 1,564.32.

The Russell 2000 index finished the week up 17.83, or 3.8 percent, at 486.26.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended at 8,924.03, up 123.85 points, or 1.41 percent, for the week. A year ago, the index was at 14,644.64.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The last hour really helped!*

Wall Street began a holiday-shortened week with a moderate pullback Monday as investors recoiled at bleak news from Toyota Motor Corp. and drugstore operator Walgreen Co.
Related Quotes

The two companies -- both viewed as better-positioned than many of their peers -- provided more evidence that even stronger companies are struggling as consumers cut back their spending.

Walgreen's profit fell 10 percent in its fiscal first quarter, due mostly to the costs of opening more than 200 new stores, so the company said it will slow down its expansion. Toyota, meanwhile, slashed its earnings forecast for a second time, warning that it now expects to post an operating loss for the fiscal year through March.

*The NYSE DOW closed LOWER -59.42 points	-0.69% on Monday December 22*
Sym Last........ ........Change..........
Dow	8,519.69	-59.42	-0.69%
Nasdaq	1,532.35	-31.97	-2.04%
S&P 500	871.63	-16.25	-1.83%
30-yr Bond	2.5980%	+0.0360

NYSE Volume	4,971,889,500
Nasdaq Volume	1,676,461,120

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,249.16	-81.50	-1.88%
DAX	4,639.02	-57.68	-1.23%
CAC 40	3,151.36	-74.54	-2.31%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,723.78	+135.26	+1.57%
Hang Seng	14,622.39	-505.12	-3.34%
Straits Times	1,745.63	-49.84	-2.78%

http://finance.yahoo.com/news/Stocks-fall-in-light-trade-as-apf-13897867.html
*Stocks fall in light trade as Toyota cuts outlook
Stocks decline moderately in choppy, light trading as Toyota, Walgreen disappoint investors*

Monday December 22, 2008, 5:32 pm EST
NEW YORK (AP) -- Wall Street began a holiday-shortened week with a moderate pullback Monday as investors recoiled at bleak news from Toyota Motor Corp. and drugstore operator Walgreen Co.
Related Quotes

The two companies -- both viewed as better-positioned than many of their peers -- provided more evidence that even stronger companies are struggling as consumers cut back their spending.

Walgreen's profit fell 10 percent in its fiscal first quarter, due mostly to the costs of opening more than 200 new stores, so the company said it will slow down its expansion. Toyota, meanwhile, slashed its earnings forecast for a second time, warning that it now expects to post an operating loss for the fiscal year through March.

It would be the Japanese automaker's first such loss since it began reporting results in 1941, and underscores the challenges facing car companies. Toyota's American rivals, General Motors Corp. and Chrysler LLC, received a $17.4 billion lifeline from the federal government last Friday to stave off bankruptcy.

Monday's gloomy corporate news highlighted how weak the consumer is, said Kim Caughey, equity research analyst at Fort Pitt Capital Group. That's a troubling prospect, she said, because it appears the U.S. economy cannot rely on consumer spending to pull it out of its downturn.

"Even though mortgage rates are coming down, we don't see the consumer running out and buying that house," Caughey said.

On Tuesday, the Commerce Department reports on last month's new home sales, while the National Association of Realtors reports on existing home sales. Economists forecast that both will show declines.

Analysts pointed out, though, that trading volumes were very low Monday, and likely to stay that way throughout the week. So trading was choppy -- the Dow fell by as many as 207 points before paring its losses -- and the market's movements may not be indicative of its long-term direction.

"A truncated week is going to make it tough to generate any firm takeaways from trading," said Craig Peckham, equity trading strategist at Jefferies & Co. "I would expect to see sleepy volumes and a lot of people protecting positions going into year end."

Tax-loss selling -- when investors sell securities at a loss to offset a capital gains tax liability -- might also contribute to the market's weakness until the year's end, Fort Pitt's Caughey noted.

The Dow fell 59.42, or 0.69 percent, to 8,519.69, after briefly moving into positive territory early in the session, tumbling, and then recovering some of its losses.

Broader stock indicators also finished lower. The Standard & Poor's 500 index fell 16.25, or 1.83 percent, to 871.63, and the Nasdaq composite index fell 31.97, or 2.04 percent, to 1,532.35.

The Russell 2000 index of smaller companies fell 11.19, or 2.30 percent, to 475.07. Smaller companies tend to be more vulnerable to economic weakness than larger companies.

On the New York Stock Exchange, declining issues outnumbered advancers by more than 2 to 1 and volume came to a light 1.22 billion shares.

Toyota's U.S.-traded shares fell $3.50, or 5.4 percent, to $60.88.

Walgreen shares fell $1.10, or 4.2 percent, to $24.98.

Also weighing on stocks was Caterpillar Inc., which said it will cut executive compensation in 2009 because of waning demand for mining and construction equipment. Caterpillar shares fell 91 cents, or 2.1 percent, to $41.78.

Wall Street has shown some signs of relative stability in the last few weeks. Since reaching multiyear lows on Nov. 20, the Dow is up 12.8 percent and the S&P 500 is up 15.8 percent.

Besides relief over the auto bailout, investor sentiment has also grown a bit more upbeat after the Federal Reserve last week cut the benchmark federal funds rate to a range of zero to 0.25 percent in an effort to boost borrowing and lending.

After doling out hundreds of billions of dollars in aid this year to prop up the troubled auto and financial sectors, companies are continuing to tap the government for assistance. Some of the country's largest property developers are seeking government help as the threat of default on commercial properties is growing, according to a Wall Street Journal report on Monday.

Another recipient of the government's assistance, American International Group Inc. is selling its Hartford Steam Boiler unit to reinsurer Munich Re AG for $742 million as it works to shed assets to pay back a government loan. AIG received a $150 billion rescue package from the government last month to help it pull through the credit crisis.

AIG shares rose a penny to $1.61.

Light, sweet crude fell $2.45, or nearly 6 percent, to $39.91 a barrel on the New York Mercantile Exchange.

Government bonds finished lower, pushing up yields, even after the Treasury Department auctioned $38 billion of two-year notes -- a record amount -- at an all-time low yield of 0.922 percent. The yield on the benchmark 10-year Treasury note, which moves opposite its price, slipped to 2.17 percent. The yield on the three-month T-bill, considered one of the safest short-term investments, was up at 0.02 percent.

The dollar was mixed against other major currencies, while gold prices rose.

Overseas, Japan's Nikkei stock average rose 1.57 percent, while Hong Kong's Hang Seng index dropped 3.34 percent. Britain's FTSE 100 was down 1.88 percent, Germany's DAX index was down 1.23 percent, and France's CAC-40 was down 2.31 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street pulled back again Tuesday in muted trading ahead of the holiday, as another round of reports showed further deterioration in the housing market and broader economy.

The Dow Jones industrial average finished lower for the fifth straight day, falling 100 points.

Tuesday's gloomy data was hardly surprising to jaded investors. And trading volume has been light this week, which tends to skew the market's movements.


*The NYSE DOW closed LOWER -100.28 points 	-1.18% on Tuesday December 23*
Sym Last........ ........Change..........
Dow	8,419.49	-100.28	-1.18%
Nasdaq	1,521.54	-10.81	-0.71%
S&P 500	863.16	-8.47	-0.97%
30-yr Bond	2.6330%	+0.0350

NYSE Volume	4,145,245,000
Nasdaq Volume	1,331,059,250

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,255.98	+6.82	+0.16%
DAX	4,629.38	-9.64	-0.21%
CAC 40	3,128.41	-22.95	-0.73%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 	8,723.78 	+135.26 	+1.57%
Hang Seng	14,220.79	-401.60	-2.75%
Straits Times	1,724.54	-21.09	-1.21%

http://finance.yahoo.com/news/Dow-falls-for-5th-straight-apf-13907374.html

*Dow falls for 5th straight session on grim data

Wall Street declines as investors sift through more data showing an anemic economy*
Tuesday December 23, 2008, 4:42 pm EST

NEW YORK (AP) -- Wall Street pulled back again Tuesday in muted trading ahead of the holiday, as another round of reports showed further deterioration in the housing market and broader economy.

The Dow Jones industrial average finished lower for the fifth straight day, falling 100 points.

Tuesday's gloomy data was hardly surprising to jaded investors. And trading volume has been light this week, which tends to skew the market's movements.

"It is a very quiet news week, and much of it has already been priced into the market," said Ryan Larson, head of equity trading at Voyageur Asset Management.

The reports offered Wall Street no reason to be upbeat, however, and the concern remains that the economy will keep weakening well into the new year. That anxiety is sapping the hope for a year-end rally in the Dow, which is has fallen 36.5 percent since 2008 began.

The Commerce Department reiterated Tuesday that third-quarter gross domestic product, a measure of the economy that tallies the value of goods and services, fell at an annual rate of 0.5 percent.

The government also said sales of new homes fell in November to the slowest pace in nearly 18 years, while prices of new homes dropped by the biggest amount in eight months.

Sales of existing homes keep dropping as well. The National Association of Realtors said existing home sales fell 8.6 percent to an annual rate of 4.49 million in November from a downwardly revised pace of 4.91 million in October. That was more than analysts expected.

According to preliminary calculations, the Dow Jones industrial average shed 100.28, or 1.18 percent, to 8,419.49.

Broader indexes also declined. The Standard & Poor's 500 index fell 8.47, or 0.97 percent, to 863.16. The Nasdaq composite index fell 10.81, or 0.71 percent, to 1,521.54. The Russell 2000 index of smaller companies fell 6.43, or 1.35 percent, to 468.64.

Declining issues led advancers by 3 to 2 on the New York Stock Exchange, where volume came to 984.54 million shares.

Government bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, slipped to 2.18 percent. The yield on the three-month T-bill, considered one of the safest investments, was unchanged at 0.02 percent from late Monday.

The news from Corporate America Tuesday brought little cheer.

Greeting-card company American Greetings Corp. said it swung to a third-quarter loss, hurt by hefty charges and a decline in sales. Shares fell $3.42, or 35 percent, to $6.40.

And the shape of the financial industry continued to shift, as two more companies got government funding.

Credit card lender American Express Co. and commercial financial firm CIT Group Inc. said Tuesday they each received preliminary approval to obtain billions in funding from the government's $700 billion bank investment program.

American Express fell 46 cents, or 2.5 percent, to $17.96, and CIT Group rose 8 cents to $4.26.

Shareholders approved two acquisitions that were forced by banks' massive credit losses.

PNC Financial Services Group Inc. and National City Corp. shareholders approved PNC's acquisition of the Cleveland-based bank. The deal is expected to be complete by late 2009.

Shares of Pittsburgh-based PNC rose 33 cents to $43.01, while National City shares edged up 4 cents, or 2.5 percent, to $1.65 on its last day of trading.

And Wells Fargo & Co. and Wachovia Corp. shareholders approved Wells Fargo's $11.8 billion purchase of Wachovia.

Wells Fargo, based in San Francisco, fell 43 cents to $26.99, while Charlotte, N.C.-headquartered Wachovia fell 15 cents to $5.30.

The dollar was mixed against other major currencies, while gold prices fell.

Oil prices fell on concerns that energy demand is evaporating in the face of a severe global economic slowdown. Light, sweet crude fell 93 cents to settle at $38.98 a barrel on the New York Mercantile Exchange, after dipping below $38 earlier in the day.

The plunge in energy prices has been cold comfort to stock investors. The downturn should give consumers a break when they heat their homes and fill their cars' tanks, but it is a glaring sign of the grim economic outlook and the shattered financial industry.

In overseas markets, Japan's Nikkei stock average rose 1.57 percent, and Hong Kong's Hang Seng index fell 2.75 percent. Britain's FTSE 100 rose 0.16 percent, Germany's DAX index fell 0.21 percent, and France's CAC-40 fell 0.73 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street rose modestly in light holiday trading Wednesday after the government released downbeat, but unsurprising, readings on rising U.S. joblessness and declining consumer spending.

The swelling rate of unemployment has been particularly worrisome to investors. The more people lose their jobs, or fear they will lose their jobs, the more they close their wallets. And consumer spending accounts for more than two-thirds of U.S. economic activity.

*The NYSE DOW closed HIGHER +48.99	+0.58% on Wednesday December 24*
Sym Last........ ........Change..........
Dow	8,468.48	+48.99	+0.58%
Nasdaq	1,524.90	+3.36	+0.22%
S&P 500	864.55	+1.39	+0.16%
30-yr Bond	2.6550%	+0.0220

NYSE Volume	1,605,334,120
Nasdaq Volume	516,848,380

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,216.59	-39.39	-0.93%
DAX	4,629.38	-9.64	-0.21%
CAC 40	3,116.21	-12.20	-0.39%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,517.10	-206.68	-2.37%
Hang Seng	14,184.14	-36.65	-0.26%
Straits Times	1,736.99	+12.45	+0.72%

http://finance.yahoo.com/news/Stocks-advance-in-light-apf-13914625.html
*Stocks advance in light, Christmas Eve trading

Stocks edge up in light trading after reports on unemployment claims, consumer spending*
Wednesday December 24, 2008, 3:12 pm EST

NEW YORK (AP) -- Wall Street rose modestly in light holiday trading Wednesday after the government released downbeat, but unsurprising, readings on rising U.S. joblessness and declining consumer spending.

The swelling rate of unemployment has been particularly worrisome to investors. The more people lose their jobs, or fear they will lose their jobs, the more they close their wallets. And consumer spending accounts for more than two-thirds of U.S. economic activity.

But Wall Street's reaction to Wednesday's economic data was a shrug. Investors have largely been factoring in bad numbers for the fourth quarter as Americans adjusted to the slumping economy, and as banks and automakers scrambled for funding from the U.S. government to stay afloat.

"We've got to get through this year -- it's been crazy -- and just start over," said Stephen Carl, principal and head of equity trading at The Williams Capital Group.

His wish list for 2009: "I hope more shoes don't drop in January, and I really hope that come March that the (government bailout) money is able to do what the people giving the money expect. I hope the automakers don't need anymore; I hope the plan comes to fruition."

The Labor Department said initial applications for unemployment benefits rose more than anticipated to a seasonally adjusted 586,000 last week. That was the highest level since November 1982, though the work force has grown by about half since then.

Other reports were gloomy, but less grim than anticipated. The Commerce Department said consumer spending dropped 0.6 percent in November -- the fifth straight monthly drop -- and durable goods orders fell 1 percent in November.

Floor traders, as they do every year on Christmas Eve and New Year's Eve, gathered for a moment at the New York Stock Exchange to sing "Wait Till the Sun Shines, Nellie." The song is about waiting for the rain to end, and the Big Board tradition has roots going back to the Great Depression.

Wednesday's stock moves were considered largely inconsequential in the grand scheme of things. Trading volumes were extremely low ahead of Christmas, and the markets closed early Wednesday at 1 p.m. Eastern time. And with only four trading days left in 2008, most buying and selling appeared to be investors trying to dress up their portfolios after a year of unprecedented market turmoil.

The Dow Jones industrial average rose 48.99, or 0.58 percent, to 8,468.48, after falling for five straight sessions. The blue-chip index is well off its November lows, but is still down for the typically strong month of December.

Broader stock indicators also gained. The Standard & Poor's 500 index futures rose 4.99, or 0.58 percent, to 868.15, and the Nasdaq composite index rose 3.36, or 0.22 percent, to 1,524.90.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where consolidated volume amounted to 1.4 billion shares.

Bond prices, like stocks, were little changed. The yield on the benchmark 10-year Treasury note rose modestly to 2.19 percent from 2.18 percent late Tuesday.

The dollar was mixed against other major currencies. Gold prices rose.

Light, sweet crude for February delivery fell $3.63 to settle at $35.35 a barrel on the New York Mercantiles Exchange. The Nymex, like the stock and bond markets, will be closed on Thursday and re-open on Friday.

Markets overseas declined. Japan's Nikkei stock average fell 2.37 percent, and Hong Kong's Hang Seng index fell 0.26 percent. Britain's FTSE 100 fell 0.93 percent, Germany's DAX index fell 0.21 percent, and France's CAC-40 fell 0.39 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average ended the week down 63.56, or 0.74 percent, at 8,515.55. The Standard & Poor's 500 index fell 15.08, or 1.7 percent, at 872.80. The Nasdaq composite index ended the week down 34.08, or 2.17 percent, at 1,530.24.

Wall Street put together a moderate advance in light post-Christmas trading Friday after the government threw a lifeline to General Motors' financing arm, but gains were limited by dreary holiday shopping readings that dimmed the chance of a big year-end rally.

The major indexes finished the week with losses, but the market nonetheless showed further signs of stability.

The news from the retailing sector was far from surprising: Americans spent much less on gifts this season than they did last year, according to SpendingPulse, a division of MasterCard Advisors. Retail sales dropped between 5.5 percent and 8 percent compared with last year, the data showed, or between 2 percent and 4 percent after stripping out auto and gas sales.

*The NYSE DOW closed HIGHER +47.07 points	+0.56% on Friday December 26*
Sym Last........ ........Change..........
Dow	8,515.55	+47.07	+0.56%
Nasdaq	1,530.24	+5.34	+0.35%
S&P 500	872.80	+7.38	+0.85%
30-yr Bond	2.6130%	-0.0420

NYSE Volume	1,946,472,880
Nasdaq Volume	601,594,440

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,216.59	closed
DAX	4,629.38	closed
CAC 40	3,116.21	closed

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,739.52	+140.02	+1.63%
Hang Seng	14,184.14	closed
Straits Times	1,725.61	-11.38	-0.66%

http://finance.yahoo.com/news/Stocks-up-after-GMAC-lifeline-apf-13920726.html
*Stocks up after GMAC lifeline, retail sales dip

Wall Street rises modestly as GMAC qualifies for gov't help but holiday spending drops*

Friday December 26, 2008, 6:10 pm EST
NEW YORK (AP) -- Wall Street put together a moderate advance in light post-Christmas trading Friday after the government threw a lifeline to General Motors' financing arm, but gains were limited by dreary holiday shopping readings that dimmed the chance of a big year-end rally.

The major indexes finished the week with losses, but the market nonetheless showed further signs of stability.

The news from the retailing sector was far from surprising: Americans spent much less on gifts this season than they did last year, according to SpendingPulse, a division of MasterCard Advisors. Retail sales dropped between 5.5 percent and 8 percent compared with last year, the data showed, or between 2 percent and 4 percent after stripping out auto and gas sales.

Ever since the Thanksgiving weekend, it has been widely expected that this holiday season would be dismal, and analysts believe that a great deal of the poor economic news of late, including weak holiday spending, has been factored into stock prices.

Still, personal consumption is a huge part of U.S. economic activity -- comprising more than two-thirds of gross domestic product -- so Wall Street remains concerned that a more frugal consumer could keep the economy weak in 2009. The market will be paying close attention to the Conference Board's December survey on consumer confidence, to be released on Tuesday. The survey will include data on consumers' expectations for the future.

Investors did get a some good news on Christmas Eve, when the Federal Reserve allowed GMAC Financial Services -- the finance arm of struggling Detroit automaker General Motors Corp. -- to become a bank holding company and thus qualify for the government's $700 billion rescue fund. Analysts had said that without financial help, GMAC might have had to file for bankruptcy protection or shut down.

There was little conviction behind Friday's advance, which the market managed after stocks meandered for much of the session. With just three full trading days left in the year, no news has been upbeat enough to spark a big year-end rally, a consequence of the great uncertainty still in the market. December is usually a strong month for stocks, and a flurry of trading known as a "Santa Claus rally" is often seen in the final week.

"I think we could have a year-end rally, but it's got a formidable headwind in the form of tax-selling, in my view," said Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors. Tax-loss selling is when investors sell their poorly-performing stocks to realize a loss for the year, which can reduce their taxes in upcoming years.

The Dow Jones industrial average rose 47.07, or 0.56 percent, to 8,515.55 after Thursday's market holiday.

Broader stock indicators also rose. The Standard & Poor's 500 index rose 4.65, or 0.54 percent, to 872.80, and the Nasdaq composite index rose 5.34, or 0.35 percent, to 1,530.24. The Russell 2000 index of smaller companies rose 6.28, or 1.33 percent, to 476.77.

Advancing issues were ahead of decliners on the New York Stock Exchange by more than 3 to 1. Consolidated volume came to an extremely light 1.71 billion shares, compared to 1.4 billion in an abbreviated session on Wednesday, and 3.63 billion in a full session on Tuesday.

For the week, the Dow ended down 0.74 percent, the S&P 500 fell 1.7 percent and the Nasdaq lost 2.17 percent.

Although there was selling early in the week on bad economic news, Wall Street still extended a streak of relatively tranquil trading after the extreme volatility of September, October and November. Many analysts believe the market has found a bottom after the lows it reached Nov. 20, although no one is ready to say Wall Street won't see more heavy losses.

As the year winds down, investors are flummoxed over what 2009 might bring.

"It's hard to imagine another year that is going to be as dismal or dark or bad as 2008," Johnson said. "It's even hard to imagine that we have another down year in 2009 -- the odds are the stock market will be higher at the end of 2009. Common sense tells you that."

The Dow is down 35.8 percent for the year, while the S&P 500 is down 40.56 percent and the Nasdaq is off 42.3 percent. Since peaking in October 2007, the Dow has lost 39.88 percent, the S&P 500 is down 44.24 percent and the Nasdaq has skidded 46.48 percent.

But, Johnson added, it's impossible to forecast the end of a bear market, and "confidence can turn on a dime."

Besides the consumer confidence report on Tuesday, the market will be waiting for the Institute for Supply Management's report on the manufacturing sector for December. That will be released Friday.

Trading is likely to remain light next week as many investors remain on vacation for the holidays.

On Friday, the dollar was down against other major currencies, while gold prices rose.

Demand for government bonds increased. The three-month Treasury bill's yield fell to 0.01 percent from 0.02 percent late Wednesday, and the 10-year Treasury note's yield fell to 2.14 percent from 2.19 percent.

Light, sweet crude rose $2.36 to $37.71 a barrel on the New York Mercantile Exchange. Crude prices had tumbled Wednesday for the ninth straight day -- dipping as low as $35.13 -- after gloomy economic reports and growing stockpiles of unused gasoline suggesting eroded demand.

GMAC notes shot higher on the news of the company's transformation into a bank. GMAC's 7.25 percent note due to mature in 2033 rose 88.5 percent to $9.67 from $5.13 on Wednesday. But analysts were wary of the big price move, noting that volume was thin, and saying there is still much to be resolved about the company's finances.

Japan on Friday reminded U.S. investors that the recession is not isolated to the United States. Japanese automakers and other manufacturers cut output last month by 8.1 percent -- the biggest decrease since records began in 1953 -- in the face of slowing demand overseas.

Despite the plunge, Japan's Nikkei stock index rose 1.63 percent.

In other overseas trading, Hong Kong markets were closed, as were those in Britain, Germany and France.

The Dow Jones industrial average ended the week down 63.56, or 0.74 percent, at 8,515.55. The Standard & Poor's 500 index fell 15.08, or 1.7 percent, at 872.80. The Nasdaq composite index ended the week down 34.08, or 2.17 percent, at 1,530.24.

The Russell 2000 index finished the week down 9.49, or 1.96 percent, at 476.77.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended at 8,769.35, down 154.62 points, or 1.73 percent, for the week. A year ago, the index was at 14,911.63.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street retreated Monday as continuing violence in the Middle East and a resulting jump in oil prices reminded investors that the market could face problems beyond the recession. The collapse of a Dow Chemical Co. joint venture, meanwhile, intensified Wall Street's economic worries.

Investors remained cautious in a holiday-shortened week, unwilling to make many big bets in the final three days of trading for 2008. Israel's escalating attacks against Gaza's Hamas rulers made traders more hesitant to buy.

*The NYSE DOW closed LOWER -31.62 points	-0.37% on Monday December 29*
Sym Last........ ........Change..........
Dow	8,483.93	-31.62	-0.37%
Nasdaq	1,510.32	-19.92	-1.30%
S&P 500	869.42	-3.38	-0.39%
30-yr Bond	2.6250%	+0.0120

NYSE Volume	3,407,764,500
Nasdaq Volume	1,209,327,380

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,319.35	+102.76	+2.44%
DAX	4,704.86	+75.48	+1.63%
CAC 40	3,130.72	+14.51	+0.47%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,747.17	+7.65	+0.09%
Hang Seng	14,328.48	+144.34	+1.02%
Straits Times	1,780.57	+54.96	+3.18%

http://finance.yahoo.com/news/Stocks-pull-back-amid-Middle-apf-13930957.html
*Stocks pull back amid Middle East tensions

Wall Street retreats amid Middle East fighting, collapse of Dow Chemical joint venture*
* Joe Bel Bruno, AP Business Writer
* Monday December 29, 2008, 5:31 pm EST


NEW YORK (AP) -- Wall Street retreated Monday as continuing violence in the Middle East and a resulting jump in oil prices reminded investors that the market could face problems beyond the recession. The collapse of a Dow Chemical Co. joint venture, meanwhile, intensified Wall Street's economic worries.

Investors remained cautious in a holiday-shortened week, unwilling to make many big bets in the final three days of trading for 2008. Israel's escalating attacks against Gaza's Hamas rulers made traders more hesitant to buy.

The tensions pushed oil prices above $40 a barrel during the session, with crude closing up $2.31 at $40.02 a barrel on the New York Mercantile Exchange. Oil had fallen more than $100 from its peak of $147.27 a barrel on July 11 as a slowing economy curbed demand, but the fighting in Gaza raised the possibility of supply disruptions that could send prices climbing again.

Todd Leone, managing director of equity trading at Cowen & Co., said trading volume is extremely light and that is contributing to the market's swings. Low volume tends to skew price movements.

"What's going on in Israel didn't read well over the weekend," Leone said. "Beyond that, it is an incredibly quiet session. It's really not taking much to move the markets."

Investors also digested a potential blow to dealmaking on Wall Street. On Sunday, Kuwait's government canceled its $17.4 billion K-Dow Petrochemicals joint venture with Dow Chemical, saying it was "very risky" because of the global financial crisis and low oil prices. The joint venture was set to begin Thursday.

Rohm & Haas Co. maintains that its proposed $15.3 billion takeover by Dow Chemical won't be affected by Dow's substantial loss of income from the venture. But investors punished shares, driving them down $9.60, or 15.1 percent, to $53.96. Dow Chemical shares lost $3.15, or 16.3 percent, to $15.35.

The Dow Jones industrial average fell 31.62, or 0.37 percent, to 8,483.93.

Broader indexes also declined. The Standard & Poor's 500 index fell 3.38, or 0.39 percent, to 869.42; the Nasdaq composite index fell 19.92, or 1.30 percent, to 1,510.32.

Declining issues were ahead of advancers by nearly 4 to 3 on the New York Stock Exchange, where consolidated volume came to an extremely 1.40 billion shares, down from 1.71 billion on Friday.

Bond prices rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.10 percent from 2.14 percent late Friday. The yield on the three-month T-bill, in great demand because it is considered one of the safest investments, rose to 0.03 percent from 0.01 percent late Friday.

The dollar was lower against other major currencies, while gold prices rose.

Wall Street has largely written off the final three trading days of 2008, the worst year since Herbert Hoover was president. The Dow has fallen 36 percent, the biggest drop since 1931 when the Great Depression sent stocks reeling 40.6 percent. And the Standard & Poor's 500 index is set to record the biggest drop since its creation in 1957. The index of America's biggest companies is down 40.8 percent for the year.

Alexander Paris, economist and market analyst for Chicago-based Barrington Research, said investors had more reasons to sell on Monday rather than scoop up stocks. For instance, he said some investors might be selling for tax purposes or positioning ahead of economic data to be released later this week, including the Institute for Supply Management's assessment of the manufacturing sector, scheduled for Friday.

"When you have a quiet week, things have a bigger impact on the market," he said. "Everybody likes to have a headline as to what caused the market to move. But, there's still the broader concern that the fourth quarter will be the worst on record for economic growth since 1982."

Dave Rovelli, managing director of trading at brokerage Canaccord Adams, said investors will be waiting to make big moves until after the Jan. 20 inauguration of President-elect Barack Obama. Wall Street is eager for details on his proposed stimulus package for the economy.

"No one is going to do anything until the New Year," he said.

However, if companies release earnings warnings early in January, or if the first wave of fourth-quarter reports are disappointing, the market could see a return of heavy selling. Investors will be focusing on any word from companies deemed critical to the economy, especially from the beleaguered financial and retail sectors.

Investors will also be looking for more insight this week into how retailers fared after the weak Christmas selling season. Stores have slashed prices even further to entice post-holiday shoppers but with many consumers nervous about the economy they're reluctant to spend. That's a troubling prospect for investors, since consumer spending accounts for more than two-thirds of U.S. economic activity.

In other corporate news, billionaire investor Kirk Kerkorian sold his remaining shares in Ford Motor Co., according to a spokeswoman for his investment company Tracinda Corp. Kerkorian's jettisoning of Ford comes just six months after Tracinda boosted its stake in the Dearborn, Michigan-based automaker to 6.49 percent.

Ford shares fell 6 cents, or 2.6 percent, to $2.23.

The Russell 2000 index of smaller companies fell 10.62, or 2.23 percent, to 466.15.

Overseas, Japan's Nikkei stock average rose 0.09 percent. In afternoon trading, Britain's FTSE 100 rose 2.44 percent, Germany's DAX index rose 1.63 percent, and France's CAC-40 rose 0.47 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street staged a big advance in the next to last session of 2008 Tuesday after Washington's latest lifeline to the auto industry bolstered hopes that the government will do whatever is necessary to cut short the recession.

Investors found solace in news that General Motors Corp.'s troubled financing arm received $5 billion of financing. The Treasury Department said late Monday it would provide the money to GMAC Financial Services LLC from the $700 billion bank rescue program.

*The NYSE DOW closed HIGHER +184.46 points	+2.17% on Tuesday December 30*
Sym Last........ ........Change..........
Dow	8,668.39	+184.46	+2.17%
Nasdaq	1,550.70	+40.38	+2.67%
S&P 500	890.64	+21.22	+2.44%
30-yr Bond	2.5830%	-0.0420

NYSE Volume	3,685,444,500
Nasdaq Volume	1,455,375,500

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,392.68	+73.33	+1.70%
DAX	4,810.20	+105.34	+2.24%
CAC 40	3,217.13	+86.41	+2.76%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,859.56	+112.39	+1.28%
Hang Seng	14,235.50	-92.98	-0.65%
Straits Times	1,770.65	-9.92	-0.56%

http://finance.yahoo.com/news/Wall-Street-gains-as-GMAC-apf-13939020.html
*Wall Street gains as GMAC gets financing

Investors turn confident as GMAC gets government money, offsetting disappointing consumer data*
Joe Bel Bruno, AP Business Writer
Tuesday December 30, 2008, 5:07 pm EST

NEW YORK (AP) -- Wall Street staged a big advance in the next to last session of 2008 Tuesday after Washington's latest lifeline to the auto industry bolstered hopes that the government will do whatever is necessary to cut short the recession.

Investors found solace in news that General Motors Corp.'s troubled financing arm received $5 billion of financing. The Treasury Department said late Monday it would provide the money to GMAC Financial Services LLC from the $700 billion bank rescue program.

The injection is on top of the $17.4 billion in loans the Bush Administration agreed to provide to the auto industry on Dec. 19. GMAC said Tuesday it would immediately resume lending to certain customers it had previously said were too great a risk for auto loans because of tight credit markets.

"This is trying to slow down the economic train wreck," said Jack Ablin, chief investment officer at Harris Private Bank. "Investors are taking a step back, and realizing that this will enable auto buyers to finance their cars and add liquidity to the market."

Ablin also said the move will have an effect on the entire economy, especially amid a backdrop of sluggish consumer spending, which drives more than two-thirds of the U.S. economy.

Wall Street got another disappointing reading about the mood of Americans after the Conference Board reported its Consumer Confidence index dropped to a record low. The trade group reported the index's reading fell to a 38 in December from a revised 44.7 in November, well below the expectation of 45 economists surveyed by Thomson Reuters.

Investors were well prepared for a downbeat report after consumers reluctant to spend left retailers with their worst holiday season in years. The International Council of Shopping Centers said Tuesday that weekly same-store sales, those from stores open a year or more, dropped 1.5 percent last week at the 40 retailers it polls.

Stocks pulled back somewhat after the consumer confidence report was released, but quickly bounded higher. According to preliminary calculations, the Dow Jones industrial average rose 184.46, or 2.17 percent, to 8,668.39.

Broader indexes also moved higher. The Standard & Poor's 500 index rose 21.22, or 2.44 percent, to 890.64; while the Nasdaq composite index added 40.38, or 2.67 percent, to 1,550.70.

With many traders away for the holidays, volume was low, which can exaggerate price moves. Advancing issues led decliners by a 4 to 1 basis on the New York Stock Exchange, where 706.5 million shares changed hands.

Most investors are looking past 2008 for clues about how stocks will fare in the coming year. The major stock market indicators are down 34 percent to 41 percent for the year.

Subodh Kumar, global investment strategist at Subodh Kumar & Associates in Toronto, said the market's moves in the final days of the year are more noteworthy than some investors realize; stocks have been fairly steady despite low volume that could easily lead to sharp declines. But he predicts trading will remain volatile into mid-2009.

"It's still relatively encouraging that the markets have been able to hold up," he said.

Investors might have been able to overlook the disappointing consumer data after a surprise uptick in the Chicago Purchasing Managers' index, which measures business conditions across Illinois, Michigan and Indiana. It advanced in December for the first time since August. Wall Street had expected a decline. The index, which rose 34.1 from 33.8 in November, is considered a precursor to the Institute for Supply Management's manufacturing survey on Friday.

Bond prices were higher. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.08 percent from 2.10 percent late Monday. The yield on the three-month T-bill, in great demand because it is considered one of the safest investments, rose to 0.06 percent from 0.03 percent late Monday.

Light, sweet crude fell 99 cents to $39.03 on the New York Mercantile Exchange. Oil prices rose Monday as investors worried fighting between Israel and Hamas in Gaza would disrupt oil shipments.

The dollar was mixed against other major currencies, while gold prices fell.

In corporate news, shares of GM rose 20 cents, or 5.6 percent, to $3.80 after GMAC was given government financing. GM owns 49 percent of GMAC, while private equity firm Cerberus Capital Management holds the remainder.

The Federal Reserve last week approved GMAC's application to become a bank holding company, a move that cleared the way for the company to receive money from the financial rescue fund. In addition to the cash infusion for GMAC, the government also agreed to lend $1 billion to GM so it can contribute to the financing arm's reorganization as a bank holding company.

Meanwhile, General Motors said it is offering financing as low as zero percent over the next week for several 2008 and 2009 models in a big year-end sales push.

The Russell 2000 index of smaller companies rose 16.62, or 3.57 percent, to 482.77.

Overseas, Japan's Nikkei stock average rose 1.28 percent in the final session of the year, ending 2008 with a loss of 42 percent. Markets in Japan are closed for a holiday Wednesday. Britain's FTSE 100 rose 1.70 percent, Germany's DAX index rose 2.24 percent, and France's CAC-40 rose 2.76 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street's stats for 2008 are testimony to how stunningly terrible the year was:

-- The Dow lost 33.8 percent for the year and was down 38 percent from its record close of 14,165.53 in October 2007, making it the Dow's worst year since 1931, when the country was deep into the Depression.

-- The Standard & Poor's 500 index, the indicator most watched by market pros, lost 38.5 percent in 2008 and is down 44.8 percent from its 2007 high of 1,565.15 The S&P 500's 52 percent decline at its November low was the worst since an earlier version of the index lost 54.5 percent from March 1937 to March 1938.

-- The Nasdaq composite index fell 40.5 percent during 2008 and ended the year off 44.8 percent from its most recent high in October 2007. The tech-heavy index peaked at 5,048.62 during the dot-com bubble at the start of the decade.

Wall Street saw a merciful end to a dreadful year Wednesday as stocks closed the last session of 2008 with a sizable advance.

*The NYSE DOW closed HIGHER +108.00 points	+1.25%on Wednesday December 31*
*Sym Last........ ........Change..........*
Dow	8,776.39	+108.00	+1.25%
Nasdaq	1,577.03	+26.33	+1.70%
S&P 500	903.25	+12.61	+1.42%
30-yr Bond	2.6910%	+0.1080

NYSE Volume	4,351,414,000
Nasdaq Volume	1,590,723,120

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,434.17	+41.49	+0.94%
DAX	4,810.20	+105.34	+2.24%
CAC 40	3,217.97	+0.84	+0.03%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,859.56	+112.39	+1.28%
Hang Seng	14,387.48	+151.98	+1.07%
Straits Times	1,761.56	-9.09	-0.51%

http://finance.yahoo.com/news/Stocks-extend-advance-in-apf-13947016.html
*Stocks extend advance in year's final session
Wall Street extends advance in final session of punishing year as jobless claims decline*

    * Tim Paradis, AP Business Writer
    * Wednesday December 31, 2008, 5:14 pm EST

NEW YORK (AP) -- Wall Street saw a merciful end to a dreadful year Wednesday as stocks closed the last session of 2008 with a sizable advance.

According to preliminary calculations, the Dow Jones industrials rose 108 points to 8,776 -- but plunged nearly 34 percent over the course of the year as the U.S. mortgage and credit crisis turned into a global recession. The past year marked the worst for the Dow since 1931.

Investors took some comfort Wednesday from the Labor Department's report of a sharp drop in weekly unemployment claims. But many traders were out of the market, on vacation or having closed their books for the year.

Analysts said many investors were looking forward to the start of 2009. Still, there are many unknowns about the economy that could make Wall Street's recovery from a terrible 2008 a difficult one.

"The tone is less onerous for stocks," said Steven Goldman, chief market strategist, Weeden & Co. in Greenwich, Conn. He said lighter volume and relief that the year is over likely aided the market's advance.

Wall Street's stats for 2008 are testimony to how stunningly terrible the year was:

-- The Dow lost 33.8 percent for the year and was down 38 percent from its record close of 14,165.53 in October 2007, making it the Dow's worst year since 1931, when the country was deep into the Depression.

-- The Standard & Poor's 500 index, the indicator most watched by market pros, lost 38.5 percent in 2008 and is down 44.8 percent from its 2007 high of 1,565.15 The S&P 500's 52 percent decline at its November low was the worst since an earlier version of the index lost 54.5 percent from March 1937 to March 1938.

On Wednesday, the Dow rose 108.00, or 1.25 percent, to 8,776.39. The S&P 500 rose 12.61, or 1.42 percent, to 903.25.

The Nasdaq composite index fell 40.5 percent during 2008 and ended the year off 44.8 percent from its most recent high in October 2007. The tech-heavy index peaked at 5,048.62 during the dot-com bubble at the start of the decade.

The Nasdaq rose 26.33, or 1.70 percent, Wednesday to 1,577.03.

The Russell 2000 index of smaller companies rose 19.74, or 4.09 percent, to 502.51.

Advancing issues outnumbered decliners by about 5 to 1 on the New York Stock Exchange, where volume came to a light 1.31 billion shares.

On Tuesday, stocks rose as investors applauded the government's decision to extend $5 billion to General Motors Corp.'s troubled financing arm, GMAC Financial Services LLC. Major stock indexes rose more than 2 percent in light trading, including the Dow, which added 185 points. Light volume can skew market moves.

Bond price tumbled as stocks advanced Wednesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, jumped to 2.22 percent from 2.06 percent late Tuesday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.12 percent from 0.06 percent Tuesday.

The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude jumped $5.57 to settle at $44.60 a barrel on light trading on the New York Mercantile Exchange.

Tim Speiss, head of the wealth management division at Eisner LLP, said investors shouldn't draw too much from the light holiday trading but said the drop in jobless claims and the financing for GMAC were encouraging.

"It's really tough to draw any kind of conclusions because of the low volumes," he said, adding "new jobless claims are down, that's good."

Overseas, Britain's FTSE 100 rose 0.94 percent and France's CAC-40 added 0.03 percent. Markets in Japan and Germany were closed for holidays.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*For the week, the Dow finished up 6.1 percent, the S&P 500 finished up 6.8 percent, while the Nasdaq rose 6.7 percent.*

Wall Street started the new year with a big rally Friday, as investors, brushing aside a disappointing report on manufacturing, sent the Dow Jones industrials up more than 250 points and to their first close above 9,000 in two months. All the major indexes shot up more than six percent for the week.

Specialist traders eye financial charts and data on the floor of the New York Stock Exchange, Friday Jan. 2, 2009. Wall Street began the new year optimistically Friday as investors brushed off a weaker-than-expected report on manufacturing and sent stocks higher. 

*The NYSE DOW closed HIGHER +258.30	+2.94% on Friday January 2*
Sym Last........ ........Change..........
Dow	9,034.69	+258.30	+2.94%
Nasdaq	1,632.21	+55.18	+3.50%
S&P 500	931.80	+28.55	+3.16%
30-yr Bond	2.8150%	+0.1240

NYSE Volume	4,075,754,500
Nasdaq Volume	1,464,044,880

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,561.79	+127.62	+2.88%
DAX	4,973.07	+162.87	+3.39%
CAC 40	3,349.69	+131.72	+4.09%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,859.56	closed
Hang Seng	15,042.81	+655.33	+4.55%
Straits Times	1,829.71	+38.16	+2.17%

http://finance.yahoo.com/news/Wall-Street-enjoys-upbeat-apf-13955440.html

*Wall Street enjoys upbeat start to 2009

Stocks advance in optimistic start to 2009 as investors brush off weak manufacturing report*

    * Tim Paradis, AP Business Writer
    * Friday January 2, 2009, 4:41 pm EST

NEW YORK (AP) -- Wall Street started the new year with a big rally Friday, as investors, brushing aside a disappointing report on manufacturing, sent the Dow Jones industrials up more than 250 points and to their first close above 9,000 in two months. All the major indexes shot up more than six percent for the week.

Specialist traders eye financial charts and data on the floor of the New York Stock Exchange, Friday Jan. 2, 2009. Wall Street began the new year optimistically Friday as investors brushed off a weaker-than-expected report on manufacturing and sent stocks higher. 

Specialist traders eye financial charts and data on the floor of the New York Stock Exchange, Friday Jan. 2, 2009. Wall Street began the new year optimistically Friday as investors brushed off a weaker-than-expected report on manufacturing and sent stocks higher. (AP Photos/Bebeto Matthews)

The Institute for Supply Management said its manufacturing activity index fell to the lowest level in 28 years in December. But the market held to its recent pattern of taking bad economic news in stride, a pattern that began to emerge after it touched multiyear lows on Nov. 20. Investors tend to look anywhere from three to nine months into the future when they make their moves.

"Over the last month you've started to see a change in sentiment and this certainly advances that," said Carl Beck, partner at Harris Financial Group in Richmond, Va.

Economic data have been terrible for months and investors have shown little surprise even as some readings fell well short of economists' already low expectations. During past recessions, the market has recovered ahead of the economy by growing numb to a stream of poor data and looking for signs that the downturn isn't worsening.

The ISM, a trade group of purchasing executives, said Friday its manufacturing index fell to 32.4 in December from 36.2 in November. Economists polled by Thomson Reuters had expected a reading of 35.5; a figure below 50 indicates contraction.

Wall Street's move higher comes amid light trading after the New Year's holiday. Modest volume can lend buoyancy to the market as upbeat buyers have reason to come out and those with less conviction stay home.

The final session of the week follows a terrible year for investors. The Dow fell 33.8 percent in 2008, its worst performance since 1931.

Still, the market's move higher was welcome.

"We like to see the markets shrug off the bad news. That typically is a sign that we're forming a bottom," said Eric Thorne, an investment adviser at Bryn Mawr Trust.

According to preliminary calculations, the Dow rose 258.30, or 2.94 percent, to 9,034.69, finishing the week up 6.1 percent. The blue chips last closed above 9,000 on Nov. 5, when they stood at 9,139.27.

Like the Dow, broader stock indicators also advanced for the third straight session. The Standard & Poor's 500 index rose 28.55 percent, or 3.16 percent, to 931.80, its highest close since Nov. 5. The Nasdaq composite index rose 55.18, or 3.50 percent, to 1,632.21.

For the week, the S&P 500 finished up 6.8 percent, while the Nasdaq rose 6.7 percent.

The Russell 2000 index of smaller companies rose 6.37, or 1.28 percent, to 505.82.

Advancing issues outnumbered decliners by about 5 to 1 on the New York Stock Exchange, where volume came to a light 1.04 billion shares.

Bond prices fell as investors took on riskier assets. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.40 percent from 2.22 percent late Wednesday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.09 percent from 0.08 percent Wednesday.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude rose $1.74 to settle at $46.34 a barrel on the New York Mercantile Exchange.

Thorne contends 2009 could be a strong year for Wall Street because most investors are so shaken from the sell-off in 2008, which erased six years of gains in stocks. Market bottoms often emerge because investors are so pessimistic or because stocks seem incapable of making any sustained recovery.

"A bottom isn't formed in one day or even in one month but probably over several months," he said. "Expectations are extremely low for the economy, for corporate earnings and for the stock market itself."

From Nov. 20 to the end of 2008, the Dow advanced 16.2 percent, while the S&P 500 rose 20 percent.

"We're very confident that the $9 trillion that is in cash right now will look to find a home in better-performing assets," he said, referring to the amount of money invested in conservative but low-yielding areas like money market funds. Yields on safe investments like Treasurys have fallen to virtually nil as investors have clamored for safety and surrendered hopes of even earning a return on their money.

Todd Leone, managing director at Cowen & Co., cautioned against reading too much into Friday's advance and said the first full week of the new year should provide insight into investor sentiment for 2009.

"The first five days are usually very telling," Leone said. "I'm not sure we'll be up or down." He said an advance in stocks Friday wasn't a surprise as some investors start the year by wading into the market. He said selling is more likely to occur next week.

Investors had little corporate news to go on Friday other than the completion this week of some major banking acquisitions. Bank of America Corp. finalized its deal to acquire Merrill Lynch & Co. Wells Fargo & Co. closed its acquisition of Wachovia Corp., while PNC Financial Services Group Inc. bought National City Corp.

The dealmaking came after the mortgage and credit turmoil torpedoed bank's balance sheets and sent banks' stocks tumbling. In some cases, banks grappling with liquidity shortages and rising loan losses were forced to make deals to remain in business.

Next week brings a flurry of economic readings and potentially early comments from companies on their 2008 results and 2009 forecasts.

A Labor Department report next Friday on December employment is expected to draw attention. A month ago, Wall Street showed newfound resiliency in the face of a bad reading on what is typically the most important economic report of the month. Stocks initially sagged but finished with big gains Dec. 5 after the government reported that employers slashed a larger-than-expected 533,000 jobs in November. Investors were hoping the poor report would prompt Washington to take broader steps to shore up the economy.

"The employment numbers will almost undoubtedly be very ugly. What will be interesting to see is what the market's reaction will be to those numbers," said Thorne. "We're also very interested to see what the corporate earnings reporting season will be like."

Harris Financial's Beck said the earnings reports could be a wake-up call for investors. "People expect earnings to be really bad. If they come out and they're not quite as bad, you could see this momentum in the market continue," he said. "If they come out even worse than expectations, that could be a major set back."

Stocks overseas also began the new year with a rally. Britain's FTSE 100 rose 2.88 percent, Germany's DAX index jumped 3.39 percent, and France's CAC-40 increased 4.09 percent. Markets in Japan were closed for a holiday.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Caution returned to Wall Street Monday as investors gave back some gains from last week's rally even as they found encouragement from President-elect Barack Obama's calls for an economic stimulus package.

Some retreat was to be expected after investors sent the Dow Jones industrial average to a two-month high on Friday; investors are wary about pouring more money into the battered market with economic data still generally weak.

*The NYSE DOW closed LOWER -81.80 points	-0.91% on Monday January 5*
Sym Last........ ........Change..........
Dow	8,952.89	-81.80	-0.91%
Nasdaq	1,628.03	-4.18	-0.26%
S&P 500	927.45	-4.35	-0.47%
30-yr Bond	3.0400%	+0.2250

NYSE Volume	5,448,982,000
Nasdaq Volume	1,816,657,750

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,579.64	+17.85	+0.39%
DAX	4,983.99	+10.92	+0.22%
CAC 40	3,359.92	+10.23	+0.31%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	9,043.12	+183.56	+2.07%
Hang Seng	15,563.31	+520.50	+3.46%
Straits Times	1,924.87	+95.16	+5.20%

http://finance.yahoo.com/news/Investors-collect-profits-apf-13970223.html

*Investors collect profits after last week's rally
Wall Street starts first full week of '09 on cautious note; corporate earnings remain concern*
    * Tim Paradis, AP Business Writer
    * Monday January 5, 2009, 4:55 pm EST

NEW YORK (AP) -- Caution returned to Wall Street Monday as investors gave back some gains from last week's rally even as they found encouragement from President-elect Barack Obama's calls for an economic stimulus package.

Some retreat was to be expected after investors sent the Dow Jones industrial average to a two-month high on Friday; investors are wary about pouring more money into the battered market with economic data still generally weak.

Monday was the first real test of Wall Street in 2009 after many traders took extended vacations during the holidays, leading to light volume that may have exaggerated the market's move upward. Investors are still contending with fears about everything from the state of corporate earnings to consumers' willingness to spend during a recession.

"There is some optimism out there that there is going to be a massive stimulus package by Obama that is going to get passed and that will help the economy," said Greg Church, chief investment officer of Church Capital Management in Yardley, Pa.

Church warned, however, that a recovery will be difficult.

"The economy is still very weak. Unemployment is still high and is likely to get worse," he said.

Some analysts warned against drawing big conclusions from Monday's trading.

"We're not reading too much into this market right now, especially after Friday's big gain," said Matt King, chief investment officer at Bell Investment Advisors. "There's just not a lot of conviction behind it."

"I do think there is an element of profit taking from Friday," when the Dow rose 258 points, he said.

According to preliminary calculations, the Dow fell 81.80, or 0.91 percent, to 8,952.89 after falling as much as 142.

Broader stock indicators showed more modest declines. The Standard & Poor's 500 index fell 4.35, or 0.47 percent, to 927.45, and the Nasdaq composite index fell 4.18, or 0.26 percent, to 1,628.03.

The Russell 2000 index of smaller companies fell 0.81, or 0.16 percent, to 505.03.

Despite the pullback in the major indexes, advancing issues outnumbered decliners by about 2 to 1 on the New York Stock Exchange, where volume came to 1.32 billion shares.

On Friday, the Dow registered its first close above 9,000 in two months. Last week, all the major indexes gained more than 6 percent, furthering a rally off multiyear lows that began Nov. 20.

Bond prices pulled back Monday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.46 percent from 2.39 percent late Friday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.08 percent from 0.07 percent.

The dollar mixed against other major currencies, while gold prices fell.

Light, sweet crude rose $2.47 to settle at $48.81 a barrel on the New York Mercantile Exchange.

Analysts expect Wall Street will remain on edge in the coming months as companies release their quarterly results and, more important, their forecasts for the year. Economists are expecting terrible profit reports and cautious forecasts but anything worse than expected could rock the market.

Kim Caughey, equity research analyst at Fort Pitt Capital Group, said investors are already bracing for lackluster corporate results, a stance that could help Wall Street more easily absorb bad news. Since late November, a pessimistic market has been able to write off some bad economic readings as unsurprising.

"I think it may put a limit on the downside because we're already expecting things to be terrible. It's not going to take a whole lot to meet or exceed terrible," she said.

Caughey warned, however, that modest expectations likely won't be enough to take the market higher.

"It's just going to limp along," she said of the economy.

Some stocks and sectors saw selling Monday as analysts issued downbeat forecasts. JPMorgan Chase & Co., which last year scooped up ailing banks Washington Mutual and Bear Stearns, fell after a Deutsche Bank analyst late Sunday reduced his 2009 profit forecast for the company. He predicts JPMorgan will see increases in soured loans. The stock fell $2.10, or 6.7 percent, to $29.25 and was the steepest decliner among the 30 stocks that make up the Dow industrials.

Another downgrade weighed on the telecommunications sector. Verizon Communications fell $2.16, or 6.2 percent, to $32.48, while AT&T Inc. fell 99 cents, or 3.4 percent, to $28.43. Both stocks are Dow components.

Some energy stocks advanced as oil rose. El Paso Corp. rose 50 cents, or 6 percent, to $8.81, while XTO Energy Inc. rose $2.12, or 5.6 percent, to $39.70.

Apple Inc. eased some investors' worries about the health of Chief Executive Steve Jobs. Wall Street closely associates his vision with the company's success. In a letter released Monday, Jobs acknowledged his recent weight loss, and said his doctors believe he has a hormone imbalance. Jobs, a survivor of pancreatic cancer, will continue as CEO during his recovery. Apple rose $3.83, or 4.2 percent, to $94.58.

Overseas, Britain's FTSE 100 rose 0.39 percent, Germany's DAX index rose 0.22 percent, and France's CAC-40 added 0.31 percent. Japan's Nikkei stock average rose 2.07 percent, and Hong Kong's Hang Seng index rose 3.46 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The last hour spoilt the day dropping about 80 points!*

Wall Street advances on hopes for economic rebound; S&P 500 ends at highest level in 2 months

Wall Street brushed off more bad economic news Tuesday to finish with a moderate advance that left broad stock indexes at their highest levels in two months.

Stocks gained after stumbling in the early going because of mixed data on the service sector, factory orders and pending home sales. While investors expected the readings would show further deterioration, they were hoping the pace of the declines would slow. The market is eager for signs that the U.S. recession will end this year.

*The NYSE DOW closed HIGHER +62.21 points	+0.69% on Tuesday January 6*
Sym Last........ ........Change..........
Dow	9,015.10	+62.21	+0.69%
Nasdaq	1,652.38	+24.35	+1.50%
S&P 500	934.70	+7.25	+0.78%
30-yr Bond	3.07%	+0.03

NYSE Volume	6,097,687,000
Nasdaq Volume	2,183,896,500

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,638.92	+59.28	+1.29%
DAX	5,026.31	+42.32	+0.85%
CAC 40	3,396.22	+36.30	+1.08%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	9,080.84	+37.72	+0.42%
Hang Seng	15,509.51	-53.80	-0.35%
Sraits Times	1,913.66	-11.21	-0.58%

http://finance.yahoo.com/news/Stocks-end-higher-on-hopes-apf-13984405.html
*Stocks end higher on hopes for economic rebound*

*Wall Street advances on hopes for economic rebound; S&P 500 ends at highest level in 2 months*

    * Madlen Read and Sara Lepro, AP Business Writers
    * Tuesday January 6, 2009, 5:37 pm EST


NEW YORK (AP) -- Wall Street brushed off more bad economic news Tuesday to finish with a moderate advance that left broad stock indexes at their highest levels in two months.

Stocks gained after stumbling in the early going because of mixed data on the service sector, factory orders and pending home sales. While investors expected the readings would show further deterioration, they were hoping the pace of the declines would slow. The market is eager for signs that the U.S. recession will end this year.

Stocks recovered in midafternoon trading after the Federal Reserve released the minutes from its December meeting, providing insight into the central bank's historic decision to ratchet down its key interest rate to near zero to revive the economy.

Investors hopeful for an economic recovery moved out of sectors like consumer staples and health care that are seen as safe havens during recessions and put money into consumer discretionary names and beaten down financial stocks. Technology shares advanced in part after a Barclays Capital analyst upgraded shares of telecommunications network equipment maker Ciena Corp. Proposals by President-elect Barack Obama to help stimulate economic growth by spending on infrastructure and pushing for tax breaks helped some sectors expected to benefit from a stronger consumer.

"I think people are cautiously optimistic," said Ben Halliburton, chief investment officer at Tradition Capital Management. "They are hopeful that the Obama administration is going to get the economy back on track. But I think the speed at which they get things back on track might be slower than the current consensus believes."

The Dow Jones industrial average rose 62.21, or 0.69 percent, to 9,015.10.

Broader stock indicators showed steeper advances to end at their highest levels since Nov. 5. The Standard & Poor's 500 index rose 7.25, or 0.78 percent, to 934.70. The Nasdaq composite index advanced 24.35, or 1.50 percent, to 1,652.38, helped by an 18.6 percent jump in Ciena shares.

The Russell 2000 index of smaller companies rose 9.68, or 1.92 percent, to 514.71.

Advancing issues outnumbered decliners by about 4 to 1 on the New York Stock Exchange, where volume came to 1.34 billion shares.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.45 percent from 2.48 percent late Monday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.14 percent from 0.09 percent.

On Monday, the Dow fell 81 points, giving back some of its gains from last week's rally in which all the major indexes rose more than six percent. Tuesday's climb followed a recent pattern in which investors have largely shrugged off weak economic data.

Wall Street has been showing some signs of stability since hitting multiyear lows on Nov. 20. The Dow is up 19.4 percent since then, while the S&P 500 index is up 25.6 percent. But analysts are quick to note that the market is not out of the woods yet.

"We've had sort of a positive correction," said Brian Gendreau, investment strategist at ING Investment Management. "The question is, is this the beginning of a sustained bull market? I would suspect not."

The economic numbers are mostly still poor but the stock market has recovered from past recessions before the economic figures show improvement.

The National Association of Realtors said Tuesday that pending home sales fell to the lowest level on record in November, while the Commerce Department said the drop in factory orders in November was nearly twice as steep as economists had expected. In one bright spot, the Institute for Supply Management said the U.S. services sector contracted at a slower pace last month.

Analysts expect Wall Street to remain on edge in the coming weeks as corporate earnings reports begin to arrive. Investors will be looking to glean any insight into companies' expectations for the coming year.

"People are really undecided on what '09 is going to look like from an earnings perspective," said David Waddell, senior investment strategist and chief executive of Waddell & Associates. "(The market) could get a bit more pessimistic depending on how ugly the fourth quarter is. The surprise would be if things aren't as bad as we think."

Wall Street on Tuesday examined the Fed's take on whether investors can expect an economic recovery this year.

Minutes from the central bank's last meeting showed policymakers feared the economy would be stuck in a painful rut for some time. Fed Chairman Ben Bernanke and his colleagues slashed the central bank's target lending rate to help spur economic growth.

The Fed, which this week began buying mortgage-backed securities, also said at the time it was considering acquiring other types of securities, such as Treasurys.

"I think this statement clearly indicates they are going to continue to try to get rates lower and move people into riskier assets," said Peter Cardillo, chief market economist at Avalon Partners. "The minutes point out the fact that they are using every tool available."

Among tech stocks, Ciena rose $1.32, or 18.6 percent, to $8.40, while Hewlett Packard Co. jumped $2.98, or 8.2 percent, to $39.31.

Consumer stocks rose. Target Corp. advanced $1.97, or 5.5 percent, to $38.11. Financial stocks also gained. American Express Co. rose $1.12, or 5.6 percent, to $21.07.

Health care and consumer staples stocks slumped. Bristol-Myers Squibb Co. fell 88 cents, or 3.8 percent, to $22.35, while grocery chain Kroger Co. fell $1.31, or 4.9 percent, to $25.36.

The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude for February delivery slipped 23 cents to $48.58 a barrel on the New York Mercantile Exchange.

Overseas, Japan's Nikkei stock average rose 0.42 percent, and Hong Kong's Hang Seng index dipped 0.35 percent. Britain's FTSE 100 rose 1.29 percent, Germany's DAX index rose 0.85 percent and France's CAC-40 rose 1.08 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

A warning from tech giant Intel about poor business conditions and more evidence of rising unemployment left stocks with their biggest losses in a month Wednesday.

The news upended some investors' hopes for a speedy economic recovery this year and left the major stock indexes down more than 2.5 percent, including the Dow Jones industrials, which lost 245 points.

*The NYSE DOW closed LOWER -245.40 points	-2.72% on Wednesday January 7*
Sym Last........ ........Change..........
Dow	8,769.70	-245.40	-2.72%
Nasdaq	1,599.06	-53.32	-3.23%
S&P 500	906.65	-28.05	-3.00%
30-yr Bond	3.0660%	-0.0030

NYSE Volume	5,290,754,000
Nasdaq Volume	2,060,330,250

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,507.51	-131.41	-2.83%
DAX	4,937.47	-88.84	-1.77%
CAC 40	3,346.09	-50.13	-1.48%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	9,239.24	+158.40	+1.74%
Hang Seng	14,987.46	-522.05	-3.37%
Straits Times	1,880.58	-33.08	-1.73%

http://finance.yahoo.com/news/Profit-warnings-poor-job-apf-13994012.html
*Profit warnings, poor job outlook weigh on stocks

Wall Street falls sharply on employment worries, bleak corporate outlooks; Dow loses 245*

    * Madlen Read and Sara Lepro, AP Business Writers
    * Wednesday January 7, 2009, 4:43 pm EST

NEW YORK (AP) -- A warning from tech giant Intel about poor business conditions and more evidence of rising unemployment left stocks with their biggest losses in a month Wednesday.

The news upended some investors' hopes for a speedy economic recovery this year and left the major stock indexes down more than 2.5 percent, including the Dow Jones industrials, which lost 245 points.

Intel's second warning since November, as well as bleak outlooks from aluminum producer Alcoa and media industry bellwether Time Warner, underscored the breadth of the economy's slowdown. In addition, the ADP National Employment Report said private sector jobs fell by a greater-than-expected 693,000 in December. That made investors nervous ahead of Friday's employment report from the government.

But unlike the panicked declines seen last fall, Wednesday's pullback was more orderly and stocks finished above their lowest levels. Some retrenchment had been expected following sharp gains in recent sessions and a 24.2 percent rally in the Standard & Poor's 500 index since Nov. 20.

Wall Street has been absorbing poor economic and corporate news far better since November, with some investors betting on a recovery in the second half of this year or by early 2010. But the latest round of unnerving news proved to be too much to set aside.

Joe Saluzzi, co-head of equity trading at Themis Trading LLC, said the market was simply reacting to the day's drubbing of bad news.

"One too many punches and the fighter finally went down," he said.

Chip maker Intel Corp. said it now expects fourth-quarter revenue to drop a greater-than-expected 23 percent on a further weakening in demand from computer makers.

Wall Street was already worried about what the Labor Department's report on employment would bring Friday. The government report is typically the most important economic reading each month because rising unemployment could endanger consumer spending, which accounts for more than two-thirds of U.S. economic activity.

Other corporate news added to Wall Street's downbeat mood. Alcoa Inc. warned late Tuesday it would slash its annual output by more than 18 percent and cut its global work force by 13 percent. And Time Warner Inc. said Wednesday it plans to book a $25 billion impairment charge in the fourth quarter for its cable, publishing and AOL units.

Intel dropped 93 cents, or 6 percent, to $14.44. Alcoa tumbled $1.23, or 10 percent, to $10.89, while Time Warner sank 69 cents, or 6.3 percent, to $10.29.

According to preliminary calculations, the Dow dropped 245.40, or 2.72 percent, to 8,769.70. The Standard & Poor's 500 index fell 28.05, or 3 percent, to 906.65, while the Nasdaq composite index fell 53.32, or 3.23 percent, to 1,599.06.

The Russell 2000 index of smaller companies fell 17.61, or 3.42 percent, to 497.10.

Declining issues outnumbered advancers by about 4 to 1 on the New York Stock Exchange, where volume came to a light 1.24 billion shares.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

A deal to help head off more mortgage foreclosures pulled Wall Street out of a slump Thursday, giving stocks a mostly higher close. Democratic lawmakers reached an agreement with Citigroup Inc. on a plan to let bankruptcy judges alter loans in an effort to prevent home from going into foreclosure. Other lenders are expected to follow suit.

Wall Street traded lower for much of the session after a profit warning from Wal-Mart Stores Inc. intensified fears that consumers are even worse off than thought. Their reluctance to spend -- evident in Thursday's retail sales reports from many of the nation's biggest merchants -- could make it harder for the nation to recover from the recession.

*The NYSE DOW closed LOWER -27.24 points 	-0.31% on Thursday January 8*
Sym Last........ ........Change..........
Dow	8,742.46	-27.24	-0.31%
Nasdaq	1,617.01	+17.95	+1.12%
S&P 500	909.73	+3.08	+0.34%
30-yr Bond	3.0450%	-0.0210

NYSE Volume	5,075,263,000
Nasdaq Volume	2,004,173,250

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,505.37	-2.14	-0.05%
DAX	4,879.91	-57.56	-1.17%
CAC 40	3,324.33	-21.76	-0.65%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,876.42	-362.82	-3.93%
Hang Seng	14,415.91	-571.55	-3.81%
Straits Times	1,827.61	-52.97	-2.82%

*Stocks end mostly higher as mortgage deal eases some worries after Wal-Mart profit warning*

http://finance.yahoo.com/news/Stocks-end-mostly-higher-apf-14009247.html
    * Madlen Read and Tim Paradis, AP Business Writer
    * Thursday January 8, 2009, 4:51 pm EST


NEW YORK (AP) -- A deal to help head off more mortgage foreclosures pulled Wall Street out of a slump Thursday, giving stocks a mostly higher close. Democratic lawmakers reached an agreement with Citigroup Inc. on a plan to let bankruptcy judges alter loans in an effort to prevent home from going into foreclosure. Other lenders are expected to follow suit.

Wall Street traded lower for much of the session after a profit warning from Wal-Mart Stores Inc. intensified fears that consumers are even worse off than thought. Their reluctance to spend -- evident in Thursday's retail sales reports from many of the nation's biggest merchants -- could make it harder for the nation to recover from the recession.

The Dow Jones industrial average ended with a modest decline while the technology-focused Nasdaq composite index rose more than 1 percent. Tech stocks showed some of the biggest advances on the belief that the industry will lead the market's recovery. The number of advancing stocks outpaced decliners by about 2-to-1 on the New York Stock Exchange.

"Instead of people selling into the rallies they're starting to buy into the dips," said Bill Groenveld, head trader for vFinance Investments, referring to the market's shift away from the panic that dominated trading in the fall.

The agreement between Citigroup and Sens. Richard Durbin, Charles Schumer and Christopher Dodd raised hopes that the steep downturn in the housing market that has badly hurt consumer spending and the overall economy could be halted. The lending industry had fought the concept, saying it would force lenders to raise mortgage rates. Housing stocks rose on the news.

"Any sort of arrangement that can stave off foreclosure and modify existing mortgages, all of those things will help to get to the bottom of the housing market decline. And only then can we see a real turnaround in the economy," said Randy Frederick, director of trading and derivatives at Charles Schwab.

Investors remained cautious for much of the session after Wal-Mart said December sales at stores open for at least a year rose by 1.2 percent, including fuel, a worse performance than analysts expected. The nation's largest retailer also slashed its projection for fiscal fourth-quarter earnings, and its shares fell more than 7 percent.

"It's not surprising to me that the market came back a little bit," Frederick said. Investors largely expected, with the exception of Wal-Mart, for the retail sales figures to be bad, and so for the most part were able to push them aside.

According to preliminary calculations, the Dow fell 27.24, or 0.31 percent, to 8,742.46.

Broader stock indicators advanced. The Standard & Poor's 500 index rose 3.08, or 0.34 percent, to 909.73, and the Nasdaq composite index rose 17.95, or 1.12 percent, to 1,617.01.

The Russell 2000 index of smaller companies rose 4.91, or 0.99 percent, to 502.01.

Advancing issues outpaced decliners by about 2 to 1 on the New York Stock Exchange, where volume came to a light 1.20 billion shares.

On Wednesday, the Dow fell 245 on worries about rising unemployment and a warning from technology giant Intel Corp. about poor business conditions. Bleak comments from aluminum producer Alcoa Inc. and media company Time Warner Inc. added to investors' concerns.

The market's fears about the economy have been focused largely on the deteriorating job market. The Labor Department said the number of new claims for jobless benefits unexpectedly dipped last week, but the number of people continuing to file claims rose to a new 26-year high. And economists believe the government will report on Friday another massive jobs loss for December.

"The market has been bracing itself for a pretty grim number," said Craig Peckham, market strategist at Jefferies & Co.

As the economy worsens, most on Wall Street are hoping that a stimulus package proposed by President-elect Barack Obama will win congressional approval. Obama said in a speech Thursday that the recession could linger if Congress doesn't funnel unprecedented dollars into the economy. "In short, a bad situation could become dramatically worse," he said.

The lawmakers announcing the mortgage deal with Citigroup hope to attach it to Obama's stimulus proposals.

Government bond prices rose as unease about the economy stoked demand for the safety of government debt. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.45 percent from 2.50 percent late Wednesday. The yield on the three-month T-bill, considered one of the safest short-term investments, slipped to 0.09 percent from 0.11 percent.

The dollar fell against most other currencies, while gold prices rose.

Light, sweet crude fell 93 cents to settle at $41.70 a barrel on the New York Mercantile Exchange.

Among retailers, Wal-Mart fell $4.16, or 7.5 percent, to $51.38, while Saks declined 23 cents, or 5.2 percent, to $4.19.

Specialty retailer Limited Brands Inc. fell 70 cents, or 6.5 percent, to $10 after warning its fourth-quarter results will fall short of analysts' expectations because of weak sales in December.

Target Corp., however, rose 51 cents to $37.52 after the retailer's December sales declined less than expected.

Housing stocks advanced after the Citigroup deal. Lennar Corp. rose 85 cents, or 8 percent, to $11.42, while Toll Brothers Inc. ended up $1.01, or 4.9 percent, at $21.70.

Britain's FTSE 100 fell 0.05 percent after the Bank of England cut its official interest rate by half a percentage point to 1.5 percent -- the lowest level in its 315-year history. The U.S. Federal Reserve last month slashed rates to a record-low range of zero to 0.25 percent.

Elsewhere, Germany's DAX index fell 1.17 percent, and France's CAC-40 fell 0.65 percent. Japan's Nikkei stock average fell 3.93 percent, while Hong Kong's Hang Seng index fell 3.81 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones  4.8 percent decline for the week was the biggest point and percentage loss since the week ended Nov. 21.

For the week, the S&P 500 slid 4.5 percent and the Nasdaq lost 3.7 percent.

The first full week of 2009 didn't bring Wall Street any huge shocks, but it didn't bring much for investors be happy about, either.

A jump in unemployment sent stocks sharply lower Friday as investors feared that Americans won't soon deviate from their tightened budgets. The Dow Jones industrial average fell 143 points to end the week down nearly 5 percent, its worst week since November.

*The NYSE DOW closed LOWER -143.28	 points -1.64% on Friday January 9*
Sym Last........ ........Change..........
Dow	8,599.18	-143.28	-1.64%
Nasdaq	1,571.59	-45.42	-2.81%
S&P 500	890.35	-19.38	-2.13%
30-yr Bond	3.0550%	+0.0100

NYSE Volume	4,791,104,000
Nasdaq Volume	1,954,715,120

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,448.54	-56.83	-1.26%
DAX	4,783.89	-96.02	-1.97%
CAC 40	3,299.50	-24.83	-0.75%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,836.80	-39.62	-0.45%
Hang Seng	14,377.44	-38.47	-0.27%
Straits Times	1,806.02	-21.59	-1.18%

http://finance.yahoo.com/news/Stocks-slide-after-rise-in-apf-14021148.html
*Stocks slide after rise in unemployment rate

Stocks tumble on worries that rise in unemployment will further hurt spending; Dow falls 143*
    * Madlen Read and Stephen Bernard, AP Business Writers
    * Friday January 9, 2009, 6:46 pm EST

NEW YORK (AP) -- The first full week of 2009 didn't bring Wall Street any huge shocks, but it didn't bring much for investors be happy about, either.

A jump in unemployment sent stocks sharply lower Friday as investors feared that Americans won't soon deviate from their tightened budgets. The Dow Jones industrial average fell 143 points to end the week down nearly 5 percent, its worst week since November.

The Labor Department's much-anticipated report showed employers cut 524,000 jobs in December, a smaller decline than the loss of 550,000 jobs economists forecast. But the unemployment rate jumped to a 16-year high of 7.2 percent -- more than the 7 percent economists predicted -- from 6.8 percent in November.

Lost jobs were not a shock to Wall Street, but the news still stung.

"People say that they know how bad the economy is. But they don't know how it feels to have the reality hit home," said Stu Schweitzer, global markets strategist at J.P. Morgan's Private Bank. "It's not the facts -- it's how the facts feel. And it feels terrible to have so many Americans losing jobs, and so many more likely to follow in the coming months."

Rising unemployment tends to erode consumer spending, which accounts for more than two-thirds of U.S. economic activity. For all of 2008, the economy lost 2.6 million jobs -- the most since 1945. Retailers have been reporting dismal holiday sales figures, and Wall Street is concerned about how long the economy will be suffering a pullback in consumer spending.

President-elect Barack Obama on Friday called December's jobs loss "a stark reminder of how urgently action is needed" to revive the nation's staggering economy. Obama is planning on a stimulus package costing about $800 billion, consisting of tax cuts and other ways to try to help individuals and businesses.

But investors were nonetheless worried about the prospects for the economy. Warnings from industry leaders during the week about business conditions underscored the economy's troubles. Wal-Mart Stores Inc., chip maker Intel Corp., aluminum producer Alcoa Inc. and media company Time Warner Inc. all told Wall Street their results suffered in the fourth quarter.

The Dow Jones industrial average fell 143.28, or 1.64 percent, to 8,599.18. The blue chips' 4.8 percent decline for the week was the biggest point and percentage loss since the week ended Nov. 21.

Broader stock indicators also lost ground. The Standard & Poor's 500 index fell 19.38, or 2.13 percent, to 890.35, and the Nasdaq composite index fell 45.42, or 2.81 percent, to 1,571.59.

For the week, the S&P 500 slid 4.5 percent and the Nasdaq lost 3.7 percent.

The Russell 2000 index of smaller companies dropped 20.71, or 4.13 percent, to 481.30.

Declining issues outnumbered advancers by more than 2 to 1 on the New York Stock Exchange, where consolidated volume came to a light 4.13 billion shares compared with 4.34 billion shares traded Thursday.

Bond prices mostly rose Friday as investors sought safety from the grim economic data. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.40 percent from 2.44 percent late Thursday. The yield on the three-month T-bill, considered one of the safest short-term investments, slipped to 0.07 percent from 0.08 percent compared with late Thursday.

The dollar mostly rose against other major currencies, while gold prices fell.

Light, sweet crude fell 87 cents to settle at $40.83 on the New York Mercantile Exchange after dipping as low as $39.38.

Investors also digested a Commerce Department report that businesses cut wholesale inventories for a third straight month in November as sales continued to plunge. Wholesale inventories dropped 0.6 percent, and sales were down a record 7.1 percent.

Energy companies were among the hardest hit stocks Friday after months of declining oil prices and a loss for the week of about $10 a barrel. Occidental Petroleum Corp. fell $2.70, or 4.6 percent, to $56.30. Schlumberger Ltd. fell $2.83, or 6.2 percent, to $43 after announcing plans to cut about 5 percent of its work force due to the drop in crude. Oil is down from more than $147 a barrel in July, hurting demand for exploration and production services.

Citigroup Inc. fell 41 cents, or 5.7 percent, to $6.75 after board member Robert Rubin, the former U.S. Treasury secretary, resigned as a senior adviser to the big financial services company. The company said he will remain a director until his term expires at the next annual meeting in the spring. Rubin has drawn criticism for his role in the bank's recent problems that drove it to seek federal assistance.

The rise in unemployment also hurt consumer discretionary stocks like retailers. Target Corp. fell $2.12, or 5.7 percent, to $35.40, while Macy's Inc. fell 63 cents, or 5.8 percent, to $10.30.

Wall Street is also girding for dismal fourth-quarter earnings reports from companies starting next week.

"Everyone is expecting bad results," said Jim Swanson, chief investment strategist at MFS Investment Management. But he said Wall Street has also set expectations so low that results would have to be far worse than expected to startle the market.

"Anything that's not catastrophic will probably be greeted mildly or even a little bit positively," he said.

Nick Kalivas, vice president of financial research at the brokerage MF Global, said he believes investors will start buying back into the market again, but slowly and cautiously. "There's nothing in the short term that's going to give people real satisfaction," he said.

Overseas, Japan's Nikkei stock average fell 0.45 percent. Britain's FTSE 100 fell 1.26 percent, Germany's DAX index fell 1.97 percent, and France's CAC-40 fell 0.75 percent.

The Dow Jones industrial average ended the week down 435.51, or 4.82 percent, at 8,599.18. The Standard & Poor's 500 index fell 41.45, or 4.45 percent, to 890.35. The Nasdaq composite index ended the week down 60.62, or 3.71 percent, at 1,571.59.

The Russell 2000 index finished the week down 24.54, or 4.85 percent, at 481.30.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended at 8,935.80, down 378.77 points, or 4.04 percent, for the week. A year ago, the index was at 14,120.81.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

My aplogies; I have been on holidays without internet access for the past week!

The NYSE DOW was closed for public holiday on Monday January 19

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,108.47	-38.59	-0.93%
DAX	4,316.14	-50.14	-1.15%
CAC 40	2,989.69	-27.06	-0.90%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,256.85	+26.70	+0.32%
Hang Seng	13,339.99	+84.48	+0.64%
STraits Times	1,746.99	+16.54	+0.96%


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average fell 332.13, or 4.01 percent, to 7,949.09, its lowest close since Nov. 20.

The dawn of the Obama presidency could not shake the stock market from its dejection over the rapidly deteriorating state of the banking industry.

Financial stocks, many of them falling by double digit percentages, led a huge drop on Wall Street Tuesday that left the major indexes down more than 4 percent and the Dow Jones industrials down 332 points. Although traders on the floor of the New York Stock Exchange paused to watch the inauguration ceremony and Obama's remarks, the transition of power didn't erase investors' intensifying concerns about struggling banks and their impact on the overall economy.

The market's angst, which began with multibillion losses reported last week by Bank of America Corp. and Citigroup Inc., intensified after the Royal Bank of Scotland's forecast that its losses for 2008 could top $41.3 billion.

The collapse in bank stocks was swift Tuesday: State Street Corp. plunged 59 percent, Citigroup fell 20 percent and Bank of America lost 29 percent. Royal Bank of Scotland fell 69 percent in New York trading.

*The NYSE DOW closed LOWER -332.13	 points -4.01% on Tuesday January 20*
Sym Last........ ........Change..........
Dow	7,949.09	-332.13	-4.01%
Nasdaq	1,440.86	-88.47	-5.78%
S&P 500	805.22	-44.90	-5.28%
30-yr Bond	2.9470%	+0.0530

NYSE Volume	7,395,658,000
Nasdaq Volume	2,055,047,620

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,091.40	-17.07	-0.42%
DAX	4,239.85	-76.29	-1.77%
CAC 40	2,925.28	-64.41	-2.15%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,065.79	-191.06	-2.31%
Hang Seng	12,959.77	-380.22	-2.85%
Straits Times	1,723.37	-23.62	-1.35%

http://finance.yahoo.com/news/Stocks-tumble-on-fresh-apf-14108655.html
*Stocks tumble on fresh worries about banks*

*Wall Street tumbles on concerns about banking sector; bank shares plunge; Dow falls 332*

    * Tim Paradis, AP Business Writer
    * Tuesday January 20, 2009, 5:26 pm EST

NEW YORK (AP) -- The dawn of the Obama presidency could not shake the stock market from its dejection over the rapidly deteriorating state of the banking industry.

Financial stocks, many of them falling by double digit percentages, led a huge drop on Wall Street Tuesday that left the major indexes down more than 4 percent and the Dow Jones industrials down 332 points. Although traders on the floor of the New York Stock Exchange paused to watch the inauguration ceremony and Obama's remarks, the transition of power didn't erase investors' intensifying concerns about struggling banks and their impact on the overall economy.

The market's angst, which began with multibillion losses reported last week by Bank of America Corp. and Citigroup Inc., intensified after the Royal Bank of Scotland's forecast that its losses for 2008 could top $41.3 billion.

The collapse in bank stocks was swift Tuesday: State Street Corp. plunged 59 percent, Citigroup fell 20 percent and Bank of America lost 29 percent. Royal Bank of Scotland fell 69 percent in New York trading.

The shrinking value of bank stocks means the financial industry accounts for less than 10 percent of the Standard & Poor's 500 index for the first time since 1992. At the end of 2006, banks made up 22 percent of the stock market benchmark.

And the market's retreat Tuesday means Wall Street has eaten through most of the advance it made from Nov. 20 through Jan. 6. The S&P 500, which had been up as much as 24 percent, is now up only 7 percent from its November low.

Fears about banking eclipsed the shift in Washington. Royal Bank of Scotland's forecast for what would be the biggest loss ever for a British corporation left investors fearful that government's would have to nationalize banks to keep them from collapsing. The British government injected more money into the struggling bank Monday and announced another round of bailouts for the country's banks.

State Street and Regions Financial Corp., a bank with branches primarily in the Southeast, both reported big earnings drops Tuesday.

Acknowledging the global economy's woes, Obama suggested Wall Street would see greater oversight: "Without a watchful eye, the market can spin out of control," he said in his address outside the Capitol.

Obama warned the economic recovery would be difficult and that the nation must choose "hope over fear, unity of purpose over conflict and discord" to overcome the worst economic crisis since the Great Depression.

Investors are expecting Washington will be a central part of the economic recovery. But the first hours of the new administration did little to ease their concerns.

"At this stage, markets in general and bank investors specifically are really looking to government as the way out," said Jack Ablin, chief investment officer at Harris Private Bank. "Certainly, of just about all of inaugurations that I can recall today's event probably has the not only the symbolic importance but really tangible importance to the stock market."

The Dow Jones industrial average fell 332.13, or 4.01 percent, to 7,949.09, its lowest close since Nov. 20, when the blue chips ended at 7,552.29 -- their lowest point in more than five years. It was also the blue chips' biggest drop since Dec. 1.

During much of Obama's address, the average was down about 150 points. Traders hadn't appeared so focused on TV screens since Sept. 29, when the House initially voted against the banking bailout package and the Dow tumbled 777 points.

The Dow's showing was its worst ever for an Inauguration Day; it has fallen on about three-quarters of Inauguration Days, according to Dow Jones & Co.

Broader stock indicators also fell sharply Tuesday. The Standard & Poor's 500 index fell 44.90, or 5.28 percent, to 805.22, and the Nasdaq composite index fell 88.47, or 5.78 percent, to 1,440.86.

The Russell 2000 index of smaller companies fell 32.80, or 7.03 percent, to 433.65.

Losing issues outnumbered gainers by about 9 to 1 on the New York Stock Exchange, where volume came to 1.72 billion shares.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.38 percent from 2.34 percent late Friday. The yield on the three-month T-bill, in demand because it is considered one of the safest investments, rose to 0.12 percent from 0.11 percent late Friday.

Light, sweet crude rose $2.23 to settle at $38.74 a barrel on the New York Mercantile Exchange.

The dollar was mixed against other major currencies, while gold prices rose.

Richard E. Cripps, chief market strategist for Stifel Nicolaus, said the market's decline was interrupted by Obama's inauguration speech but that the markets then continued to trade on the problems in the financial sector.

"There's just tremendous fear and uncertainty in the banking sector," Cripps said. "Even those closest to the issue, like executives and analysts, there's a feeling of tremendous uncertainty. They're not giving any positive guidance because they just don't know. Lacking that (certainty) we're left to our worst fears, and that's what you're looking at with bank stocks."

Citigroup fell 70 cents, or 20 percent, to $2.80, a 17-year low. After the market's close, the company cut its quarterly dividend to a penny to meet one of the stipulations set by the government's $20 billion bailout of the company.

Bank of America fell $2.08, or 29 percent, to $5.10. Morgan Stanley fell $2.49, or 16 percent, to $13.10.

State Street Corp., which had been performing better than most financial services companies, reported a 71 percent drop in fourth-quarter profit as it was forced to billions of dollars in write-downs on its commercial paper program and investment portfolio. The bank also said it expects 2009 operating earnings to be flat with 2008, below the company's long-term goal of 10 percent to 15 percent growth. State Street plunged $21.46, or 59 percent, to $14.89.

And Regions Financial reported a fourth-quarter loss of $6.24 billion, weighed down by a hefty charge to reflect declining value in its banking reporting unit. Its stock plunged to a 24-year low, closing down $1.47, or 24 percent, at $4.60.

Overseas, Japan's Nikkei stock average fell 2.31 percent. Britain's FTSE 100 fell 0.42 percent, Germany's DAX index fell 1.77 percent, and France's CAC-40 fell 2.15 percent.


----------



## bigdog

Dow down 4%. 

The US equity market is now down 16% since election day and close to a 14-year low. The S&P 500 fell 5.28%. Financials fell 17%. 

The S&P 500 is down 11% so far this year (that followed a 24% rally since November). 

It is the worst opening to a calendar year since 1928. 

There are reports that Obama’s team is planning its second round of stabilization packages to assist the banking sector.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors acted Wednesday like they had overdone it a day earlier.

Wall Street snapped back from a steep sell-off with a rebound in the same financial stocks that were pummeled Tuesday. Upbeat comments from banks, stronger-than-expected results from IBM Corp. and hopes that Washington will offer more help to the economy powered a rally that recovered most of the previous session's losses.

The Dow Jones industrials surged nearly 280 points and all the major indexes rose more than 3.5 percent. Some bounce would have been expected after the Dow tumbled 332 points Tuesday but forecasts from PNC Financial Services Group Inc. and Bank of New York Mellon eased concerns that the troubles at financial giants like Citigroup Inc. were hitting all banks.

*The NYSE DOW closed HIGHER +279.01 points	+3.51% on Wednesday January 21*
Sym Last........ ........Change..........
Dow	8,228.10	+279.01	+3.51%
Nasdaq	1,507.07	+66.21	+4.60%
S&P 500	840.24	+35.02	+4.35%
30-yr Bond	3.1380%	+0.1910

NYSE Volume	7,403,005,000
Nasdaq Volume	2,142,189,000

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,059.88	-31.52	-0.77%
DAX	4,261.15	+21.30	+0.50%
CAC 40	2,905.57	-19.71	-0.67%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,901.64	-164.15	-2.04%
Hang Seng	12,583.63	-376.14	-2.90%
Straits Times	1,704.52	-18.85	-1.09%

http://finance.yahoo.com/news/Financial-tech-stocks-lead-apf-14120675.html
*Financial, tech stocks lead Wall Street higher

Stocks rebound following better-than-expected tech company forecasts, gains by financials*

    * Tim Paradis, AP Business Writers
    * Wednesday January 21, 2009, 5:55 pm EST


NEW YORK (AP) -- Investors acted Wednesday like they had overdone it a day earlier.

Wall Street snapped back from a steep sell-off with a rebound in the same financial stocks that were pummeled Tuesday. Upbeat comments from banks, stronger-than-expected results from IBM Corp. and hopes that Washington will offer more help to the economy powered a rally that recovered most of the previous session's losses.

The Dow Jones industrials surged nearly 280 points and all the major indexes rose more than 3.5 percent. Some bounce would have been expected after the Dow tumbled 332 points Tuesday but forecasts from PNC Financial Services Group Inc. and Bank of New York Mellon eased concerns that the troubles at financial giants like Citigroup Inc. were hitting all banks.

Many banks reversed double-digit drops from Tuesday with double-digit gains. PNC, which acquired National City Corp. on Dec. 31, jumped 37 percent after saying it would turn in a profit for 2008 and continue to pay its dividend. And Bank of New York Mellon Corp. rose 23 percent after reporting that it managed to eke out a profit for the fourth quarter.

Citigroup Inc. surged 31 percent after falling 20 percent Tuesday. Bank of America jumped 31 percent a day after falling 29 percent. Chief Executive Ken Lewis' report Wednesday that he bought 200,000 shares of common stock during the rout a day earlier encouraged investors.

And JPMorgan Chase & Co. rose 25 percent. Its CEO, Jamie Dimon, said he bought 500,000 shares of his bank's stock on Friday

IBM surprised investors late Tuesday with a forecast for the year that was well above what analysts expected. It reported a 12 percent rise in fourth-quarter profit that easily beat analysts' estimates. And Swedish wireless equipment maker LM Ericsson also reported earnings that topped predictions.

It's too early to say whether Tuesday's plunge and Wednesday's surge were overdone, said John Lynch, chief market analyst at Evergreen Investments in Charlotte, N.C. He contends the volatility will continue until investors gain more confidence. He predicts stocks will test the weakest levels of late November, when the Standard & Poor's 500 index closed at an 11-year low.

"This is part of the painful bottoming process," he said.

Investors looked again for insights into what steps the new administration will take to shore up the economy. Treasury Secretary-designate Timothy Geithner told the Senate Finance Committee that passing President Barack Obama's economic stimulus plan was essential. He also said the Senate's move last week to release the second half of the government's $700 billion financial industry rescue fund "will enable us to take the steps necessary to help get credit flowing."

The Dow Jones industrial average rose 279.01, or 3.51 percent, to 8,228.10.

Broader stock indicators also gained. The Standard & Poor's 500 index advanced 35.02, or 4.35 percent, to 840.24, and the Nasdaq composite index rose 66.21, or 4.60 percent, to 1,507.07.

The Russell 2000 index of smaller companies rose 14.69, or 3.39 percent, to 448.34. Investors often turn to smallcap stocks when placing bets on a market recovery.

Advancing issues outnumbered decliners by about 4 to 1 on the New York Stock Exchange, where volume came to 1.74 billion shares.

Bond prices slumped as stocks rebounded and investors shifted money away from the safety of government debt. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.54 percent from 2.37 percent late Tuesday. The yield on the three-month T-bill, in demand because it is considered one of the safest investments, rose to 0.12 percent from 0.10 percent late Tuesday.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude rose $2.71 to settle at $43.55 a barrel on the New York Mercantile Exchange.

Kim Caughey, equity research analyst at Fort Pitt Capital Group, said the comments from PNC and other banks and results from IBM made clear that while it's a difficult time for businesses, not all are struggling as much as some financial companies.

"It was a great reminder that businesses still have their lights on, their doors open and that they're making money," she said.

Stocks fell sharply Tuesday on worries governments would be forced to take over wobbly banks to avoid their collapse. The Dow dropped lost 332 points, or 4 percent. It was the first time the blue chips closed below 8,000 since November.

The Royal Bank of Scotland alarmed investors around the world this week with the warning its 2008 loss might top $41 billion. That spurred the British government to announce a fresh banking bailout. In the U.S., State Street Corp. -- seen as one of the safer financial firms during the current turmoil because it is a custodial bank -- lost more than half its value Tuesday after reporting its profits plunged and issuing a bleak forecast for 2009.

Among bank stocks, PNC jumped $8.16, or 37 percent, Wednesday to $30.16, while Bank of New York Mellon rose $4.24, or 23 percent, to $23.

Citigroup rose 87 cents, or 31 percent, to $3.67, and Bank of America rose $1.58, or 31 percent, to $6.68. Royal Bank of Scotland advanced 14 cents, or 4.2 percent, to $3.47, and State Street rose $2.18, or 15 percent, to $17.07.

JPMorgan rose $4.54, or 25 percent, to $22.63, and Wells Fargo advanced $2.42, or 17 percent, to $16.65.

Tech shares energized by IBM's forecast outpaced much of the broader market Wednesday. IBM jumped $9.44, or 12 percent, to $91.42. Apple rose $4.63, or 5.9 percent, to $82.83 before reporting better-than-expected results after the closing bell Wednesday.

Overseas, Britain's FTSE 100 fell 0.77 percent, Germany's DAX index rose 0.50 percent, and France's CAC-40 fell 0.67 percent. Japan's Nikkei stock average fell 2.04 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street has again succumbed to bad news, closing sharply lower Thursday as more bad news about earnings and worries about the banking industry wiped out any attempts at a rally.

The major indexes, which plunged and then soared the first two trading days of the week, ratcheted up and down during the course of the session before ending sharply lower. The Dow Jones industrial average fell as much 271 points before ending down 105.

"We're seeing a little bit of increase in volatility because things have not gotten much better," said Scott Fullman, director of derivatives investment strategy for WJB Capital Group.


*The NYSE DOW closed LOWER -105.30 points	-1.28% on Thursday January 22*
Sym Last........ ........Change..........
Dow	8,122.80	-105.30	-1.28%
Nasdaq	1,465.49	-41.58	-2.76%
S&P 500	827.50	-12.74	-1.52%
30-yr Bond	3.2500%	+0.1120

NYSE Volume	6,824,499,500
Nasdaq Volume	2,321,865,000


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,052.23	-7.65	-0.19%
DAX	4,219.42	-41.73	-0.98%
CAC 40	2,869.62	-35.95	-1.24%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,051.74		+150.10	+1.90%
Hang Seng	12,657.99	+74.36	+0.59%
Straits Times	1,708.77	+4.25	+0.25%


http://finance.yahoo.com/news/Stocks-pare-losses-from-apf-14131800.html
*Stocks pare losses from Microsoft, bank woes

Wall Street pares losses from weak results from Microsoft, uncertainty about financials*

    * Tim Paradis, AP Business Writer
    * Thursday January 22, 2009, 4:50 pm EST

NEW YORK (AP) -- Wall Street has again succumbed to bad news, closing sharply lower Thursday as more bad news about earnings and worries about the banking industry wiped out any attempts at a rally.

The major indexes, which plunged and then soared the first two trading days of the week, ratcheted up and down during the course of the session before ending sharply lower. The Dow Jones industrial average fell as much 271 points before ending down 105.

"We're seeing a little bit of increase in volatility because things have not gotten much better," said Scott Fullman, director of derivatives investment strategy for WJB Capital Group.

Bad news from Microsoft Corp. set the tone for the day and made clear more pain was to come before an elusive economic recovery would emerge. The company surprised investors Thursday morning by reporting its fiscal second-quarter earnings early -- and the news was not good. The software giant posted an 11 percent drop in profit and said it will slash 5,000 jobs over the next 18 months.

Microsoft said deteriorating global economic conditions and lower revenue from PC software forced it to cut back. The company also said it is unable to provide any profit and revenue forecasts for the rest of the year because of the market volatility.

Uneasiness about financial companies still plagues investors, and many bank stocks took another beating Thursday. Quarterly financial reports showing steep profit declines and big loan losses have investors worried that the financial crisis is far from over, and that the government's efforts to prop up banks might not be enough to prevent a major failure.

Bank of America Corp. said former Merrill Lynch & Co. Chief Executive John Thain resigned after a meeting of Bank of America executives Thursday morning. The company didn't offer a reason for Thain's departure, but it follows news that Merrill Lynch had moved up its year-end bonuses, handing out payments just days before it was officially acquired by Bank of America on Jan. 1. Moreover, some analysts expected that Thain would leave; it's almost inevitable that in the marriage of two big companies, one of the former CEOs leaves soon after the deal is closed.

Bank of America shares fell 15 percent Thursday.

More downbeat economic readings, including an increase in the number of weekly jobless benefit claims and a sharp drop in home construction activity, added to the day's gloom.

Investors found some encouragement after two House committees prepared President Barack Obama's economic stimulus plan for a floor vote next week. Still, there were still clear signs that it wasn't gaining as much Republican support as the new administration had been hoping for.

According to preliminary calculations, the Dow fell 105.30, or 1.28 percent, to 8,122.80.

Broader market indexes recovered some of their losses but still showed big drops. The Standard & Poor's 500 index fell 12.74, or 1.52 percent, to 827.50. The technology-heavy Nasdaq composite index dropped 41.58, or 2.76 percent, to 1,465.49 after the Microsoft news.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors' ambivalence about earnings reports left Wall Street with a mixed performance Friday.

Traders pounced on companies showing signs of life and dumped companies whose quarterly results fell short of expectations. Better-than-expected results from Google Inc. helped technology shares while lackluster numbers from General Electric Co. reinforced investors' concerns about the depths of the recession.


*The NYSE DOW closed LOWER -45.24 points	-0.56% on Friday January 23*
Sym Last........ ........Change..........
Dow	8,077.56	-45.24	-0.56%
Nasdaq	1,477.29	+11.80	+0.81%
S&P 500	827.68	+0.18	+0.02%
30-yr Bond	3.3320%	+0.0820

NYSE Volume	6,712,210,000
Nasdaq Volume	2,186,685,500

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,052.47	+0.24	+0.01%
DAX	4,178.94	-40.48	-0.96%
CAC 40	2,849.14	-20.48	-0.71%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,745.25	-306.49	-3.81%
Hang Seng	12,578.60	-79.39	-0.63%
Straits Times	1,685.23	-23.54	-1.38%

http://finance.yahoo.com/news/Wall-Street-off-earlier-lows-apf-14143287.html
*Wall Street off earlier lows on tech, financials

Wall Street bouncing back from sharp opening lows on technology, financial sector gains*

    * Stephen Bernard and Tim Paradis, AP Business Writer
    * Friday January 23, 2009, 4:37 pm EST

NEW YORK (AP) -- Investors' ambivalence about earnings reports left Wall Street with a mixed performance Friday.

Traders pounced on companies showing signs of life and dumped companies whose quarterly results fell short of expectations. Better-than-expected results from Google Inc. helped technology shares while lackluster numbers from General Electric Co. reinforced investors' concerns about the depths of the recession.

Insurer Aflac Inc. helped ease some of Wall Street's concerns about the financial industry after reassuring investors it had more than enough cash to maintain its credit ratings. The company's stock tumbled 37 percent Thursday on reports it did not have adequate capital to cover risky investments. The company issued a statement and an analyst released a research note backing the company's financial position. Aflac rose 6.9 percent.

The results from GE weighed on industrial names and held the Dow Jones industrial average to a loss as broader indexes climbed. The company's results met Wall Street's lowered expectations but investors grew worried that GE will reduce its dividend. They are also nervous the company could lose its coveted "AAA" credit rating because of the recession that has crimped lending at GE Capital and hurt its industrial and entertainment businesses. GE fell 11 percent.

Stocks ended a volatile session well off their lows. A sizable comeback Friday was the latest back-and-forth seen throughout a turbulent week. The Dow tumbled 4 percent Tuesday, jumped 3 percent Wednesday and fell again Thursday. Volatility has been more the rule than the exception in recent trading as investors sort through a plethora of wide-ranging earnings reports.

According to preliminary calculations, the Dow industrials fell 45.24, or 0.56 percent, to 8,077.56. The Dow had been down more than 200 points early in the day and briefly moved into positive territory.

Broader stock indicators rose. The Standard & Poor's 500 index rose 4.45, or 0.54 percent, to 831.95, while the Nasdaq composite index rose 11.80, or 0.81 percent, to 1,477.29.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street has managed an advance the hard way -- zigzagging on a mix of earnings and economic news before closing moderately higher.

The major indexes changed course several times in Monday's session, rising in response to Pfizer Inc.'s $68 billion planned acquisition of Wyeth, a deal that reassured investors that mergers could still take place in a recession. And the National Association of Realtors said existing homes rose rather than fell in December, stirring hopes that lower prices and falling interest rates are starting to erase at a glut of homes with "for sale" signs.

*The NYSE DOW closed HIGHER +38.47 points +0.48% on Monday January 26*
Sym Last........ ........Change..........
Dow 8,116.03 +38.47 +0.48% 
Nasdaq 1,489.46 +12.17 +0.82% 
S&P 500 836.57 +4.62 +0.56% 
30-yr Bond 3.3830% +0.0510 

NYSE Volume 6,124,349,000 
Nasdaq Volume 1,875,928,620 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,209.01 +156.54 +3.86% 
DAX 4,326.87 +147.93 +3.54% 
CAC 40 2,955.37 +106.23 


http://finance.yahoo.com/news/Stocks-fluctuate-on-anxiety-apf-14159970.html
*Stocks fluctuate on anxiety over earnings reports

Wall Street fluctuates as earnings reports dampen optimism over Pfizer-Wyeth deal, homes data *
Tim Paradis, AP Business Writer 
Monday January 26, 2009, 5:59 pm EST 

NEW YORK (AP) -- Wall Street has managed an advance the hard way -- zigzagging on a mix of earnings and economic news before closing moderately higher.

The major indexes changed course several times in Monday's session, rising in response to Pfizer Inc.'s $68 billion planned acquisition of Wyeth, a deal that reassured investors that mergers could still take place in a recession. And the National Association of Realtors said existing homes rose rather than fell in December, stirring hopes that lower prices and falling interest rates are starting to erase at a glut of homes with "for sale" signs.

But news from big companies weighed on the market. Downbeat comments from Caterpillar Inc. about the health of its business curbed the advance in the Dow Jones industrials. Caterpillar shares dropped more than 8 percent after the maker of heavy equipment said plunging commodity prices left the company "whipsawed" in the fourth quarter. Caterpillar said it would offer buyouts to 25,000 employees in the U.S. and cut executive pay.

Home Depot Inc., another Dow component, also announced big job cuts. The company said it would slash 7,000 jobs and close its smaller Expo chain as it struggles with the weak housing market.

Analysts expected that with earnings reports flooding in, the market would have a hard time sorting through all the data and settling on a direction. They're also expecting more volatility as reports continue over the next two to three weeks.

"There's a lot of things for investors to digest in what is a very uncertain market environment, and I think that is why you see some hesitation," said Todd Salamone, senior vice president of research, Schaeffer's Investment Research.

After the close of trading, chip maker Texas Instruments Inc. also announced job cuts -- a total of 3,400, with 1,800 coming from layoffs. The company also said its fourth-quarter earnings fell sharply.

Concerns about the banking industry added to the market's uncertainty, and most financial stocks fell. After the closing bell, American Express Co. announced fourth-quarter earnings that missed analysts' estimates by a penny. The company, as expected, reported that its cardholders cut back their spending during the October-December period.

The Dow rose 38.47,or 0.48 percent, to 8,116.03, after briefly moving into negative territory. Monday's advance was just the sixth for the Dow this month; after a late-year rally, the market has again been torn by volatility as investors worried about the economy, earnings and the health of the banking industry.

The Standard & Poor's 500 index rose 4.62, or 0.56 percent, to 836.57, and the Nasdaq composite index rose 12.17, or 0.82 percent, to 1,489.46.

The Russell 2000 index of smaller companies rose 5.70, or 1.28 percent, to 450.06.

Advancing issues outnumbered decliners by about 2 to 1 on the New York Stock Exchange, where consolidated volume came to 5.13 billion shares, down from Friday's 5.72 billion.

Another unnerving unknown for the market is the exact form that President Barack Obama's proposed stimulus package will take after it has worked its way through Congress.

Senate committees are scheduled to take up the massive plan Tuesday and the full House is expected to vote on its version of the $825 billion package Wednesday. The plan could include big tax cuts and a massive public works program.

"They know things aren't going to get any better soon, but want to see what this package is going to look like," Doug Roberts, chief investment strategist at Channel Capital Research, said of investors.

Meanwhile, earnings are likely to make the next few weeks rocky.

"It's almost like a teeter-totter right now," said Alan Lancz, money manager at Alan B. Lancz & Associates. "Earnings season is always treacherous in this kind of global economic environment with all the uncertainty."

Of the companies in the Standard & Poor's 500 index that have reported results in recent weeks, more than half have fallen short of analysts' already reduced estimates. The poor showing has left investors nervous that the economy is in worse shape than feared.

Caterpillar was one of the latest disappointments. Shares dropped $2.99, or 8.4 percent, to $32.67.

A bit of bright news came from McDonald's Corp., which posted better-than-expected profits but said revenue fell from a year earlier. Same-store sales, or sales at stores open at least a year, rose worldwide and in the U.S., where the company's low-prices have been a draw for consumers worried about the economy. Shares gained 38 cents to $58.40.

American Express fell 80 cents, or 5 percent, to $15.20, and was little changed in after-hours trading following its earnings release. Texas Instruments fell 22 cents to $14.77, but rose to $15.50 in after-hours trading.

Wyeth fell 35 cents to $43.39, and Pfizer fell $1.80, or 10.3 percent, to $15.65. Pfizer said it will cut its dividend as part of the deal, though Wall Street often sells companies that announce acquisitions.

Bond prices fell Monday as stocks rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.65 percent from 2.62 percent late Friday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.13 percent from 0.09 percent late Friday.

The dollar fell against other major currencies, while gold prices rose.

Light, sweet crude slipped 74 cents to settle at $45.73 on the New York Mercantile Exchange.

Overseas, Japan's Nikkei stock average fell 0.08 percent. Britain's FTSE 100 rose 3.86 percent, Germany's DAX index rose 3.54 percent, and France's CAC-40 jumped 3.73 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Some of Wall Street's earnings anxiety is easing -- at least for the time being.

The market had its second straight moderate advance Tuesday, rising after companies including United States Steel Corp. and American Express Co. managed to post profits in a difficult recession. Financial stocks that were mostly higher also lent support to the market.

The major indexes briefly stumbled after the Conference Board said its Consumer Confidence Index in January slipped to its lowest level since the reading's inception in 1967. The report indicated that consumers, who have already cut back drastically, are likely to remain reluctant to spend in the coming months. The index from the private research group slipped to 37.7 in January from a revised 38.6 in December.

*The NYSE DOW closed HIGHER +58.70 points +0.72%  on Tuesday January 27*
Sym Last........ ........Change..........
Dow 8,174.73 +58.70 +0.72% 
Nasdaq 1,504.90 +15.44 +1.04% 
S&P 500 845.71 +9.14 +1.09% 
10 Yr Bond(%) 2.5190% -0.1240 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,194.41 -14.60 -0.35% 
DAX 4,323.42 -3.45 -0.08% 
CAC 40 2,954.53 -0.84 -0.03% 

http://finance.yahoo.com/news/Stocks-rise-following-US-apf-14173556.html
*Stocks rise following US Steel, Amex earnings

Street rises as companies post modest earnings; consumer confidence falls to new low *
Tim Paradis, AP Business Writer 
Tuesday January 27, 2009, 6:16 pm EST 


NEW YORK (AP) -- Some of Wall Street's earnings anxiety is easing -- at least for the time being.

The market had its second straight moderate advance Tuesday, rising after companies including United States Steel Corp. and American Express Co. managed to post profits in a difficult recession. Financial stocks that were mostly higher also lent support to the market.

The major indexes briefly stumbled after the Conference Board said its Consumer Confidence Index in January slipped to its lowest level since the reading's inception in 1967. The report indicated that consumers, who have already cut back drastically, are likely to remain reluctant to spend in the coming months. The index from the private research group slipped to 37.7 in January from a revised 38.6 in December.

But profit reports from U.S. Steel and American Express as well as chip-maker Texas Instruments Inc. and movie rental company Netflix Inc. reassured investors that while the fourth quarter was generally terrible for companies, it wasn't the disaster many had feared -- some companies are still able to make money despite the worst recession in decades.

"Remember, things have been so ugly for so long now that it doesn't take a lot to have a positive surprise," said Jim King, chief investment officer at National Penn Investors Trust Co. in Reading, Pa. He said some companies are putting up weak results but the numbers can still look respectable when compared with a year-earlier.

He expects the market's gyrations will continue as investors react to the latest corporate earnings reports and forecasts.

"The volatility is not done," King said. "You're seeing a lot of varying results from corporations."

Indeed, investors sold shares of Delta Air Lines Inc. and Verizon Communications Inc. after their results disappointed Wall Street.

The Dow Jones industrial average rose 58.70, or 0.72 percent, to 8,174.73.

Broader stock indicators also advanced. The Standard & Poor's 500 index rose 9.14, or 1.09 percent, to 845.71, and the Nasdaq composite index rose 15.44, or 1.04 percent, to 1,504.90.

The Russell 2000 index of smaller companies rose 5.52, or 1.23 percent, to 455.58.

Advancing issues outnumbered losers by 2 to 1 on the New York Stock Exchange, where consolidated volume came to 4.66 billion shares, down from Monday's 5.13 billion.

Stocks rose moderately Monday after the National Association of Realtors said existing homes rose rather than fell in December, as had been expected.

Bond prices were mixed Tuesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.53 percent from 2.65 percent late Monday. The yield on the three-month T-bill, considered one of the safest investments, was unchanged at 0.13 percent.

The dollar fell against other major currencies, while gold prices also fell.

Light, sweet crude $4.15 a barrel, or 9 percent, to settle at $41.58 on New York Mercantile Exchange. Weak economic data, including a sharp drop in the Standard & Poor's/Case-Shiller 20-city index of home prices, had oil traders again betting that demand for energy will fall.

Wall Street, however, took a more positive approach to the day's events.

Dave Rovelli, managing director of trading at brokerage Canaccord Adams in New York, said Wall Street was pleased by the U.S. Steel numbers because the results could signal that the overall economy isn't as weak as some investors believed. Demand for raw materials like steel is seen as an early indicator of economic activity.

U.S. Steel, the largest U.S.-based steel producer, said its fourth-quarter earnings jumped as an acquisition boosted results. The stock rose $2.03, or 6.9 percent, to $31.49.

American Express rose $1.48 or 9.7 percent, to $16.68 after reporting its profits fell 79 percent in the final three months of 2008. The numbers weren't as weak as some investors had feared.

Texas Instruments said its earnings fell 86 percent and that it would slash 3,400 jobs as the maker of chips for cell phones and other products tries to cut costs. Wall Street applauded the move, sending the stock up 54 cents, or 3.6 percent, to $15.31.

And Netflix jumped $4.67, or 15.5 percent, to $34.82 after reporting its fourth-quarter profit surged 45 percent on strong subscriber growth.

Thomas Nyheim, portfolio manager at Christiana Bank & Trust Co. in Greenville, Del., said investors are pleased to see earnings from companies outside the troubled banking industry. Their reports dominated the first weeks of the flood of corporate results. Now, a range of industries are turning in results.

"They're poor and all the guidance is poor but at least they're having an earnings number, at least they're not missing by a wide margin," he said.

Financial companies rose as Wall Street was relieved that the bulk of the industry's quarterly reports are complete. The results were terrible but traders mostly look past current news and place bets on what's to come in the next three to nine months.

Bank of America rose 50 cents, or 8.3 percent, to $6.50, while Goldman Sachs Group Inc. rose $4.06, or 5.5 percent, to $78.26.

Delta, the world's biggest airline, said it lost $1.4 billion in the fourth quarter as it booked a massive charge related to employee stock awards. Contracts for fuel signed when prices were higher didn't allow the company to fully benefit from a huge drop in oil prices from July last year. Delta fell $2, or 20.14 percent, to $7.93.

Verizon said its earnings rose 15 percent in the fourth quarter as the telecommunications company added wireless and broadband subscribers. But revenue fell short of Wall Street's forecast and investors worried about profit margins. The stock fell $1.03, or 3.3 percent, to $29.96.

Overseas, Japan's Nikkei stock average jumped 4.93 percent. Britain's FTSE 100 fell 0.35 percent, Germany's DAX index lost 0.08 percent, and France's CAC-40 slipped 0.03 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The optimism is building on Wall Street.

Financial stocks led Wall Street sharply higher Wednesday on investor hopes the Obama administration will create banks to absorb the bad assets weighing down the financial system.

The Standard & Poor's 500 index, a benchmark for the overall stock market, completed its first four-day rally since late November. The Dow Jones industrial average jumped 201 points.

Financial stocks surged on the notion that the government could take soured debt like defaulting mortgages off the hands of banks and place them in a so-called bad bank to hold toxic assets. Investors have been worrying that banks won't be able to resume more normal levels of lending without somehow dumping or walling off the bad debt that is corroding their balance sheets. And the economy can't recover from a 14-month-old recession without improvements in lending and consumer confidence.


*The NYSE DOW closed HIGHER +200.72 points	+2.46% on Wednesday January 28*
Sym Last........ ........Change..........
Dow	8,375.45	+200.72	+2.46%
Nasdaq	1,558.34	+53.44	+3.55%
S&P 500	874.09	+28.38	+3.36%
30-yr Bond	3.4340%	+0.2000

NYSE Volume	7,101,658,500
Nasdaq Volume	2,160,724,500


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,295.20	+100.79	+2.40%
DAX	4,518.72	+195.30	+4.52%
CAC 40	3,076.01	+121.48	+4.11%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,106.29	+45.22	+0.56%
Hang Seng	12,578.60	-79.39	-0.63%
Straits Times	1,766.08	+80.85	+4.80%

http://finance.yahoo.com/news/Stocks-jump-on-reports-of-apf-14186314.html
*Stocks jump on reports of plan for bad bank assets

Stocks surge on reports White House is considering absorbing bad bank assets; Dow jumps 201*

    * Tim Paradis, AP Business Writer
    * Wednesday January 28, 2009, 4:42 pm EST

NEW YORK (AP) -- The optimism is building on Wall Street.

Financial stocks led Wall Street sharply higher Wednesday on investor hopes the Obama administration will create banks to absorb the bad assets weighing down the financial system.

The Standard & Poor's 500 index, a benchmark for the overall stock market, completed its first four-day rally since late November. The Dow Jones industrial average jumped 201 points.

Financial stocks surged on the notion that the government could take soured debt like defaulting mortgages off the hands of banks and place them in a so-called bad bank to hold toxic assets. Investors have been worrying that banks won't be able to resume more normal levels of lending without somehow dumping or walling off the bad debt that is corroding their balance sheets. And the economy can't recover from a 14-month-old recession without improvements in lending and consumer confidence.

Robert B. MacIntosh, chief economist at Eaton Vance Investment Management in Boston, said many questions remain about how a plan would work to take up bad assets. He added, though, that financial stocks have been so beaten down a rally isn't a surprise.

"The financials are just begging for good news here," he said.

Bank shares jumped: Wells Fargo & Co. surged 31 percent, Citigroup Inc. jumped 19 percent and Bank of America added 13 percent.

Investors showed little reaction to an afternoon statement from the Federal Reserve on the economy that contained little news. The central bank left interest rates near zero percent after its two-day meeting. Policymakers predict a gradual recovery in the economy will begin later this year but they caution that significant risks remain.

"I don't think there is anything terribly surprising here. I think the surprise, or the good news of the day, was the bad bank proposal," said Jerry Webman, chief economist at Oppenheimer Funds Inc. in New York.

Investors were also more upbeat ahead of a House vote on an $819 billion stimulus plan that contains a mix of new spending and tax cuts. Wall Street is hopeful the stimulus and other measures will help free the economy from its worst recession in decades.

Bill Dwyer, chief investment officer at MTB Investment Advisors in Baltimore, said any steps Washington can take to revive the economy could help the market. He said the plan to help neutralize bad bank assets could speed a recovery.

"We aren't really going to see any great economic news anytime soon so if there is any positive movement in Washington toward the problem, that would stabilize the decline," he said.

According to preliminary calculations, the Dow industrials rose 200.72, or 2.46 percent, to 8,375.45.

Broader stock indicators also rose. The S&P 500 index jumped 28.38, or 3.36 percent, to 874.09. The index last recorded as many straight advances in a five-day run that ended Nov. 28.

The Nasdaq composite index rose 53.44, or 3.55 percent, to 1,558.34.

The Russell 2000 index of smaller companies rose 17.44, or 3.83 percent, to 473.02.

The number of stocks rising outpaced those that fell by more than 6 to 1 on the New York Stock Exchange, where volume came to a light 1.55 billion shares compared with 1.17 billion shares traded Tuesday.

Bond prices tumbled as stocks gained. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.65 percent from 2.53 percent late Tuesday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.18 percent from 0.13 percent Tuesday.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude rose 58 cents to settle at $42.16 a barrel on the New York Mercantile Exchange.

The advance in financial stocks gave support to the overall market. CNBC reported Tuesday that the Obama administration is considering a plan to buy bad assets.

Wells Fargo jumped $5, or 31 percent, to $21.19 after the company said it would maintain its dividend. The company reported results that included write-downs to reduce is exposure to the risky assets of Wachovia Corp. Wells Fargo also added to its reserves for future losses. The company acquired Wachovia on Dec. 31.

Other banks charged higher on the notion that Washington could vacuum up some of their bad debt. Citigroup Inc. rose 66 cents, or 19 percent, to $4.21, while Bank of America Corp. rose 89 cents, or 14 percent, to $7.39. State Street Corp. surged $6.15, or 31 percent, to $25.77.

Some analysts attributed the run-up in banks partly to investors buying up those stocks to cover bets they made. Investors who sell a stock "short" are betting a stock would fall. They are forced to step in and buy the stock if it appears they were wrong and could lose money. This buying, in turn, can drive stocks higher.

Investor sentiment has been buoyed this week by somewhat improved corporate results. After weeks dominated by terrible results from the banking industry, investors have welcomed news that some companies were still able to gather profits in the final three months of 2008 despite the weak economy. Companies from United States Steel Corp. to American Express Co. turned in earnings that helped lift stocks moderately Tuesday.

Overseas, Britain's FTSE 100 rose 2.40 percent, Germany's DAX index jumped 4.52 percent, and France's CAC-40 rose 4.11 percent. Japan's Nikkei stock average rose 0.56 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Two glaring signs that the economy remains in a deep slump sent stocks reeling Thursday.

News that unemployment claims reached a record high and that new home sales hit a record low forced the major stock indexes to give back all of Wednesday's gains, and then some. The Dow Jones industrial average sank 226 points, or 2.7 percent, while other indicators tumbled more than 3 percent.

Volatility still has a grip on the Street. While stocks had soared Wednesday on hopes that the government will take bad debt off banks' books, investors retreated in response to some harsh reminders that it might be a while before the nation's 14-month-old recession ends, even if banks get more aid.



*The NYSE DOW closed LOWER -226.44 points	-2.70% on Thursday January 29*
Sym Last........ ........Change..........
Dow	8,149.01	-226.44	-2.70%
Nasdaq	1,507.84	-50.50	-3.24%
S&P 500	845.14	-28.95	-3.31%
30-yr Bond	3.5590%	+0.1250

NYSE Volume	5,793,641,500
Nasdaq Volume	1,956,829,750

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,190.11	-105.09	-2.45%
DAX	4,428.11	-90.61	-2.01%
CAC 40	3,009.75	-66.26	-2.15%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,251.24	+144.95	+1.79%
Hang Seng	13,154.43	+575.83	+4.58%
Straits Times	1,766.72	+0.64	 +0.04%

http://finance.yahoo.com/news/Stocks-fall-on-fresh-worries-apf-14202072.html
*Stocks fall on fresh worries about economy

Stocks drop as rising jobless claims, falling new home sales point to more economic woes*

    * Madlen Read and Tim Paradis, AP Business Writers
    * Thursday January 29, 2009, 6:03 pm EST

NEW YORK (AP) -- Two glaring signs that the economy remains in a deep slump sent stocks reeling Thursday.

News that unemployment claims reached a record high and that new home sales hit a record low forced the major stock indexes to give back all of Wednesday's gains, and then some. The Dow Jones industrial average sank 226 points, or 2.7 percent, while other indicators tumbled more than 3 percent.

Volatility still has a grip on the Street. While stocks had soared Wednesday on hopes that the government will take bad debt off banks' books, investors retreated in response to some harsh reminders that it might be a while before the nation's 14-month-old recession ends, even if banks get more aid.

The Labor Department said the number of people continuing to receive unemployment benefits reached a seasonally adjusted 4.78 million week ending Jan. 17 -- the highest level on records that go back to 1967. As a proportion of the work force, the total is the highest since August 1983.

Companies across a variety of industries have been slashing their payrolls by the thousands. Starbucks Corp., Eastman Kodak and Allstate Corp. became the latest major employers to announce big job cuts -- 7,000 at Starbucks; 3,500 to 4,500 at Kodak; and 1,000 at Allstate.

"It seems like we've gotten through the financial crisis. Now we're dealing with global synchronized recession," said Brian Battle, vice president of trading at Performance Trust Capital Partners in Chicago.

And as more people lose their jobs, fewer of them are buying new homes. The Commerce Department said home sales plunged 14.7 percent to an adjusted annual rate of 331,000 in December -- the lowest on records going back to 1963. Earlier this week, the National Association of Realtors said existing home sales posted an unexpected increase last month, but the sales were mostly of foreclosed homes.

"This all began as a housing crisis, and clearly, the housing crisis continues," said Nathan Rowader, director of investments at Forward Management. "Bad housing numbers are not going to encourage anyone to be buying stock."

Investors' mood also darkened after companies from Eastman Kodak Co. to chip maker Qualcomm Inc. reported that profits tumbled the final three months of 2008, and the Commerce Department said orders to U.S. factories for big-ticket manufactured goods fell for the fifth straight month in December.

The Dow industrials fell 226.44, or 2.70 percent, to 8,149.01.

Broader stock indicators also sank. The S&P 500 index fell 28.95, or 3.31 percent, to 845.14, and the Nasdaq composite index fell 50.50, or 3.24 percent, to 1,507.84.

The S&P was coming off its first four-day winning streak since last November.

The Russell 2000 index of smaller companies fell 19.78, or 4.18 percent, to 453.24.

The number of stocks falling outpaced advancers by 5-to-1 on the New York Stock Exchange. Consolidated volume came to 4.87 billion shares, down from 6.07 billion Wednesday.

Bond prices sank Thursday after a weaker-than-expected auction of five-year notes. The yield on the benchmark 10-year Treasury note, which moves opposite its price, shot up to 2.87 percent from 2.67 percent late Wednesday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.23 percent from 0.17 percent Wednesday.

The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude fell 72 cents to finish at $41.44 a barrel on the New York Mercantile Exchange.

Investors weren't disappointed in all fourth-quarter results -- Colgate-Palmolive, for one, said its earnings rose nearly 20 percent because of lower cuts, higher prices and new products. The consumer products company's shares rose $1.37, or 2.2 percent, to $65.22.

Most corporate results, however, were grim.

Eastman Kodak fell $2.08, or 29 percent, to $4.99 after it reported a $137 million fourth-quarter loss on a big drop in sales of both digital and film-based photography products.

Qualcomm fell $1.69, or 4.6 percent, to $35.13 after reporting a steep drop in its earnings and slashed its forecast. The company, one of the world's largest suppliers of chips for mobile phones, has seen demand fall as customers trim inventories.

Allstate fell $6.14, or 20.7 percent, to $23.50 a day after the insurer posted a loss of $1.13 billion for the fourth quarter.

Starbucks was flat at $9.65, after the coffee retailer posted a two-thirds drop in earnings.

Black & Decker Corp. dropped $8.09, or 20.9 percent, to $30.65 after reporting that its fourth-quarter earnings dropped 77 percent. The maker of power tools forecast first-quarter earnings far below what Wall Street had been expected.

Ford Motor Co. said it lost $5.9 billion in the fourth quarter but that it has no plans to seek federal aid unless economic conditions worsen. The second-largest U.S. automaker said it reached an agreement with the United Auto Workers to end the jobs bank in which laid-off workers get most of their pay. The union already agreed to do so with General Motors Corp. and Chrysler LLC.

Ford fell 8 cents, or 3.9 percent, to $1.95.

Overseas, Japan's Nikkei stock average rose 1.79 percent. Britain's FTSE 100 fell 2.45 percent, Germany's DAX index fell 2.01 percent, and France's CAC-40 fell 2.15 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com


Stocks slumped for a second straight day Friday as investors, already on edge about the worsening economy, were further rattled by a report that Washington's plans to help banks may have hit a snag.

The Dow Jones industrials dropped 4.5 percent over two sessions; broader stock indexes are down more than 5 percent since Wednesday.

Uncertainty about when the economy will improve has investors looking to Washington for answers. With the market particularly worried about the prospects of a big bank failure, investors have been hopeful that the government will soon release details of a wide-reaching plan to help banks rid themselves of their toxic assets. But a CNBC report late Friday cast doubt on the so-called 'bad bank' idea, citing an unnamed industry source as saying the plan has hit significant snags. The news sent stocks down sharply lower in late afternoon trading.

*The NYSE DOW closed LOWER -148.15 points	-1.82% on Friday January 30*
Sym Last........ ........Change..........
Dow	8,000.86	-148.15	-1.82%
Nasdaq	1,476.42	-31.42	-2.08%
S&P 500	825.88	-19.26	-2.28%
30-yr Bond	3.6030%	+0.0440

NYSE Volume	6,176,314,000
Nasdaq Volume	2,142,854,500

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,149.64	-40.47	-0.97%
DAX	4,338.35	-89.76	-2.03%
CAC 40	2,973.92	-35.83	-1.19%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,994.05	-257.19	-3.12%
Hang Seng	13,278.21	+123.78	+0.94%
Straits Times	1,746.47	-20.25	-1.15%

http://finance.yahoo.com/news/Stocks-stumble-as-investors-apf-14213178.html

*Stocks stumble as investors fear worsening economy

Stocks finish lower as investors fear worsening economy, worry 'bad bank' idea has hit snag*

    * Sara Lepro, AP Business Writer
    * Friday January 30, 2009, 4:57 pm EST

NEW YORK (AP) -- Stocks slumped for a second straight day Friday as investors, already on edge about the worsening economy, were further rattled by a report that Washington's plans to help banks may have hit a snag.

The Dow Jones industrials dropped 4.5 percent over two sessions; broader stock indexes are down more than 5 percent since Wednesday.

Uncertainty about when the economy will improve has investors looking to Washington for answers. With the market particularly worried about the prospects of a big bank failure, investors have been hopeful that the government will soon release details of a wide-reaching plan to help banks rid themselves of their toxic assets. But a CNBC report late Friday cast doubt on the so-called 'bad bank' idea, citing an unnamed industry source as saying the plan has hit significant snags. The news sent stocks down sharply lower in late afternoon trading.

"People were hoping it was coming sooner rather than later," said Anton Schutz, portfolio manager of the Burnham Financial Industries Fund and the Burnham Financial Services Fund. "So many people were anticipating good announcements about the bad bank over the weekend, but now not expecting any good news."

Treasury Secretary Timothy Geithner was meeting Friday with top government officials to develop the administration's plan for overhauling the $700 billion bailout program and improve regulation of the financial system.

Earlier in the day, investors found little solace in a milder-than-expected report on fourth-quarter economic activity. In fact, the report only heightened concerns that the economy is worsening.

Gross domestic product, the widely followed measure of the economy, shrank at a 3.8 percent pace in the final three months of 2008, the Commerce Department reported. That compared with a 0.5 percent decline the previous quarter.

Friday's reading was much better than the 5.4 percent drop economists expected. But many analysts suspect the economy is shrinking at an even faster pace in the first quarter. Weak earnings reports and rising job losses are helping to solidify that belief.

"We expected fourth quarter to be the worst of the recession," said Randy Frederick, director of trading and derivatives at Charles Schwab. "From an investor's perspective, they may see this stronger-than-expected report setting us up for the first quarter to be worse.

"Each time you get a report that indicates that maybe we hadn't bottomed out yet, it prolongs the recovery."

According to preliminary calculations, the Dow Jones industrial average fell 148.55, or 1.82 percent, to 8,000.46. The Standard & Poor's 500 index fell 19.26, or 2.28 percent, to 825.88, and the Nasdaq composite index fell 31.42, or 2.08 percent, to 1,476.42.

The Russell 2000 index of smaller companies fell 9.71, or 2.14 percent, to 443.53.

Declining issues outnumbered advancers by 3 to 1 on the New York Stock Exchange, where volume came to 1.51 billion shares.

Volatility has been high this week, with the market zigzagging on a mix of earnings and economic news as investors try to determine what the rest of 2009 will bring.

On Thursday, the Dow sank 226 points, while other indicators tumbled more than 3 percent, on news that unemployment claims reached a record high and that new home sales hit a record low. This erased all of the gains from the previous day, when stocks soared on hopes that the government will take bad debt off banks' books.

Friday's corporate earnings reports were anything but encouraging.

Evidence that consumers are cutting back on even the most basic of items came as Procter & Gamble Co. said sales in the fourth quarter dipped 3 percent on weakening demand for its products -- which include Tide detergent, Olay skin cream and Crest toothpaste. The company also lowered its earnings projections for the full year, and said it expects sales to fall in the current quarter.

Meanwhile, two of the country's largest oil companies reported feeling the pain of sinking oil prices. Exxon Mobil Corp. said that it surpassed its own record for annual earnings by a U.S. company last year, but saw a big drop in profit during the fourth quarter. Chevron Corp.'s fourth-quarter results also suffered from the late-2008 plunge in oil prices.

Honda Motor Co. slashed its 2009 profit target by more than half as its earnings dropped 90 percent in the latest quarter.

Also Friday, Japanese electronics maker NEC Corp. said it will cut 20,000 jobs worldwide as it reported a $1.46 billion loss for the fourth quarter. The cuts are in addition to big staff reductions announced earlier this week by Starbucks Corp., Eastman Kodak, Allstate Corp. and others.

"The market is a forward-looking indicator, but the market sees nothing good in front of us," said Stu Schweitzer, global markets strategist at J.P. Morgan's Private Bank.

One bright spot came from Amazon.com Inc., which reported late Thursday that its fourth-quarter profit rose 9 percent and easily surpassed analysts' forecasts. The online retailer also provided an optimistic forecast for 2009.

Its shares soared more than 17 percent, adding $8.82 to $58.82.

After rising earlier in the day, Exxon and Chevron turned lower. Exxon closed down 52 cents to $76.48, while Chevron fell 10 cents to $70.52.

Procter & Gamble shares hit a four-year low of $54.24 before plunging $3.72, or 6.4 percent, to close at $54.50.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.85 percent from 2.87 percent late Thursday. The yield on the three-month T-bill, considered one of the safest investments, was unchanged from late Thursday at 0.23 percent.

The dollar was mixed against other major currencies. Gold prices soared.

Light, sweet crude for March delivery rose 24 cents to settle at $41.68 a barrel on the New York Mercantile Exchange.

Overseas, Japan's Nikkei stock average fell 3.12 percent. Britain's FTSE 100 fell 0.97 percent, Germany's DAX index dropped 2.03 percent, and France's CAC-40 fell 1.19 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors worried about the recession have turned to a strategy of cherry-picking stocks -- sending tech shares higher and industrials lower.

The market's concerns Monday were focused on two fronts: the economic stimulus proposal now before the Senate, and a possible plan to give further aid to the nation's banks. Meanwhile, mostly negative economic data and news of more layoffs helped extend the gloomy mood that gave the market its worst January ever.

Department store operator Macy's Inc. spooked investors by announcing it plans to cut 7,000 jobs, or about 4 percent of its work force, and reduce its dividend.


*The NYSE DOW closed LOWER -64.11 points	-0.80% on Monday February 2*
Sym Last........ ........Change..........
Dow	7,936.75	-64.11	-0.80%
Nasdaq	1,494.43	+18.01	+1.22%
S&P 500	825.44	-0.44	-0.05%
30-yr Bond	3.4700%	-0.1330

NYSE Volume	5,769,703,500
Nasdaq Volume	2,034,414,120

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,077.78	-71.86	-1.73%
DAX	4,271.04	-67.31	-1.55%
CAC 40	2,930.05	-43.87	-1.48%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,873.98	-120.07	-1.50%
Hang Seng	12,861.49	-416.72	-3.14%
Straits Times	1,705.29	-41.18	-2.36%

http://finance.yahoo.com/news/Tech-stocks-rise-but-broader-apf-14227533.html
*Tech stocks rise but broader market declines

Wall Street has a fractious day, with tech stocks rising, energy and industrials falling*

    * Sara Lepro, AP Business Writers
    * Monday February 2, 2009, 5:31 pm EST

NEW YORK (AP) -- Investors worried about the recession have turned to a strategy of cherry-picking stocks -- sending tech shares higher and industrials lower.

The market's concerns Monday were focused on two fronts: the economic stimulus proposal now before the Senate, and a possible plan to give further aid to the nation's banks. Meanwhile, mostly negative economic data and news of more layoffs helped extend the gloomy mood that gave the market its worst January ever.

Department store operator Macy's Inc. spooked investors by announcing it plans to cut 7,000 jobs, or about 4 percent of its work force, and reduce its dividend.

President Barack Obama made a fresh appeal to Congress, saying that "very modest differences" over the stimulus plan should not delay its passage. The stimulus package that passed the House last week without a single Republican vote now goes to the Senate. GOP lawmakers argue that the plan is too expensive and doesn't include adequate tax cuts.

"I think it's got legislative paralysis," David Waddell, senior investment strategist and chief executive of Waddell & Associates said of the market. "Everything occurring right now is predicated upon what the current conversation is in Washington, which makes it a very difficult market to evaluate."

The market was also eyeing reports that Treasury Secretary Timothy Geithner is expected to outline a bank rescue plan next week, said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners Inc.

"The market is hoping for some resolution to the banking crisis," he said. Investors have been concerned that unrelenting loan losses could lead to a major bank failure.

All the uncertainty Monday, which also included still-to-be-released fourth-quarter earnings reports, weighed on the overall market. But tech stocks were one of the few bright spots.

The Nasdaq composite index rose 18.01, or 1.22 percent, to 1,494.43.

"Technology is one of the sectors that people, businesses are always going to need," said Keith Springer, president of Capital Financial Advisory Services. "There's a feeling that corporations are going to continue to invest in technology."

Microsoft Corp. jumped 73 cents, or 4.3 percent, to $17.83, and Intel Corp. added 73 cents, or 5.7 percent, to $13.63.

The Dow Jones industrial average, meanwhile, fell 64.03, or 0.80 percent, to 7,936.83, hurt by sliding industrial, energy and financial stocks. The Standard & Poor's 500 index slipped 0.44, or 0.05 percent, to 825.44. Both indexes had their worst January ever as investors, increasingly uneasy about the economy, gave back the gains from Wall Street's late-2008 rally.

Stocks fell in the early going Monday after the Institute for Supply Management said manufacturing activity improved during January from a record low, but still fell for the 12th straight month as the recession spread around the world.

"People are waiting for indications that things are getting better," said John Massey, senior vice president and portfolio manager at AIG SunAmerica Asset Management. "One better-than-expected report does not make a trend. People have to have more than a hunch that things are going to get better."

Meanwhile, the Commerce Department said personal spending fell for the sixth straight month in December by 1 percent. Analysts had predicted a decline of 0.9 percent. Incomes also dipped, and the personal savings rate shot higher, a sign that consumers remain extremely nervous.

The department also said construction spending fell 1.4 percent in December, slightly worse than the 1.2 percent economists expected.

News of more layoffs further discouraged investors. Besides Macy's, Morgan Stanley may cut up to an additional 1,800 jobs, according to a report in The Wall Street Journal. Morgan Stanley slashed about 7,000 jobs last year.

Analysts expect trading to remain fractious again this week as investors await more details on the stimulus package, as well as the government's January jobs report, due Friday morning.

Investors will also be looking to more corporate earnings reports for an indication of the economy's health. While a few reports have exceeded the market's expectations, the majority have been disappointing.

Toy maker Mattel Inc. said its fourth-quarter profit skidded 46 percent, well below analysts' estimates, as the recession curbed consumer spending.

Health insurer Humana Inc. reported that its fourth-quarter profit dropped 28 percent, driven by higher claim expenses from its stand-alone Medicare prescription drug plans and a plunge in its commercial business.

Mattel plunged $2.29, or 16 percent, to $11.90. Humana jumped $2.20, or 5.8 percent, to $40.13.

Macy's dropped 36 cents, or 4 percent, to $8.59.

Among industrial names, 3M Co. fell $3.17, or 5.9 percent, to $50.62. Energy company ConocoPhillips fell $1.80, or 3.8 percent, to $45.73. And among financial stocks, Bank of America Corp. tumbled 58 cents, or 8.8 percent, to $6.

The Russell 2000 index of smaller companies rose 6.08, or 1.37 percent, to 449.61.

Declining issues outnumbered advancers by about 8 to 7 on the New York Stock Exchange, where volume came to 1.33 billion shares.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.72 percent from 2.85 percent late Friday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.26 percent from 0.22 percent late Friday.

The dollar was mostly higher against other major currencies, while gold prices fell.

Light, sweet crude fell $1.60 to settle at $40.08 a barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 fell 1.73 percent, Germany's DAX index fell 1.55 percent, and France's CAC-40 fell 1.48 percent. Japan's Nikkei stock average fell 1.50 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Some heartening news on home sales and earnings Tuesday has let Wall Street set aside a little of its angst.

Major stock indexes jumped more than 1 percent Tuesday, and the Dow Jones industrials rose more than 140 points to snap a three-day slide as some of the day's data turned out to be more upbeat than expected. Still, analysts cautioned that the economy will keep showing fresh bruises in the coming months and that stock trading will remain volatile.

The National Association of Realtors said buyers stepped in to snap up properties at steep discounts in December, especially in the South and Midwest. Its seasonally adjusted index of pending sales for preowned homes rose 6.3 percent in the final month of the year from revised figures in November. Wall Street welcomed the news; investors are looking for any signs that the housing industry slide is slowing.

*The NYSE DOW closed HIGHER +141.53 points	+1.78% on Tuesday February 3*
Sym Last........ ........Change..........
Dow	8,078.36	+141.53	+1.78%
Nasdaq	1,516.30	+21.87	+1.46%
S&P 500	838.51	+13.07	+1.58%
30-yr Bond	3.62%	+0.15

NYSE Volume	5,988,463,000
Nasdaq Volume	2,121,960,000

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,164.46	+86.68	+2.13%
DAX	4,374.96	+103.92	+2.43%
CAC 40	2,982.39	+52.34	+1.79%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,825.51	-48.47	-0.62%
Hang Seng	12,776.89	-84.60	-0.66%
Straits Times	1,711.92	+6.63	+0.39%

http://finance.yahoo.com/news/Stocks-jump-following-rebound-apf-14243473.html
*Stocks jump following rebound in home sales, better-than-expected corporate profit reports*

    * Tim Paradis, AP Business Writer
    * Tuesday February 3, 2009, 5:53 pm EST

NEW YORK (AP) -- Some heartening news on home sales and earnings Tuesday has let Wall Street set aside a little of its angst.

Major stock indexes jumped more than 1 percent Tuesday, and the Dow Jones industrials rose more than 140 points to snap a three-day slide as some of the day's data turned out to be more upbeat than expected. Still, analysts cautioned that the economy will keep showing fresh bruises in the coming months and that stock trading will remain volatile.

The National Association of Realtors said buyers stepped in to snap up properties at steep discounts in December, especially in the South and Midwest. Its seasonally adjusted index of pending sales for preowned homes rose 6.3 percent in the final month of the year from revised figures in November. Wall Street welcomed the news; investors are looking for any signs that the housing industry slide is slowing.

"The market is encouraged by the more upbeat report on housing, albeit from a low level," said Alan Gayle, senior investment strategist at RidgeWorth Investments. "A key element of the current malaise is housing and credit-related. And the report on home sales suggests that we are making progress on that front."

Stocks also rose on the strength of some corporate earnings. Drugmakers Merck & Co. and Schering-Plough Corp. helped lift the market after their quarterly numbers came in better than expected. Homebuilder D.R. Horton Inc. reported a loss for its latest quarter that was narrower than analysts expected. And shipper UPS Inc. rose on relief its quarterly results weren't worse.

Investors still worried about some reports. Mobile phone maker Motorola Inc. said it lost $3.6 billion last quarter and suspended its dividend.

And financial stocks lagged the broader market after one of the nation's largest banks posted disappointing results. PNC Financial Services Group Inc. said it swung to a loss during the fourth quarter because of charges tied to its recent acquisition of National City Corp. The Pittsburgh-based bank also said it would cut 5,800 jobs following the purchase. PNC shares fell 7.2 percent.

Jim McDonald, director of equity research at Northern Trust, said the day's rally on light volume and in defensive areas like health care and weakness in financials means the market is simply papering over the economy's troubles, not building a base for moving higher.

"What we're seeing in the market today is not the fuel for a sustained rally," he said. "It's too early right now to start to believe that we're going to see evidence of stability in the economic data."

The Dow Jones industrial average rose 141.53, or 1.78 percent, to 8,078.36.

Broader stock indicators also rose. The Standard & Poor's 500 index rose 13.07, or 1.58 percent, to 838.51, and the Nasdaq composite index rose 21.87, or 1.46 percent, to 1,516.30.

The Dow and the S&P 500 had fallen for the past three sessions.

The Russell 2000 index of smaller companies rose 3.29, or 0.73 percent, to 452.90.

Losing stocks outnumbered gainers by 3 to 2 on the New York Stock Exchange, where consolidated volume came to 5.13 billion shares, compared with 4.94 billion traded Monday.

Stocks ended mixed Monday, with the Dow and S&P lower and the Nasdaq higher. The indexes have fallen for four straight weeks on growing worries about the economy. The Dow and S&P each suffered their worst January ever -- dropping more than 8 percent for the month.

Bond prices fell Tuesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.88 percent from 2.72 percent late Monday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.32 percent from 0.26 percent late Monday. The three-month yield is at its highest level since December.

Gayle said investors are pleased to see the rise in the three-month yield because it suggests some fear is evaporating from the market. Since last fall, investors have been pushing into T-bills looking for safety. They were willing to accept even the most modest of yields in return for protection of their money. Falling demand for T-bills suggests investors might be willing to take on more risk in areas like corporate debt and stocks.

"Investors are gradually putting money to work out there," Gayle said. "We're encouraged that although the economy has been beaten down very badly, that there are some signs of improvement."

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude rose 70 cents to settle at $40.78 a barrel on the New York Mercantile Exchange.

Investors also took comfort Tuesday from comments from Treasury Secretary Timothy Geithner. He told The Wall Street Journal the U.S. should be ready to spend a lot to send a jolt through the U.S. economy. Otherwise, he said, the U.S. could risk a similar nagging recession like that that has dogged Japan since the 1990s.

Companies reporting results were mixed. Merck rose $1.81, or 6.4 percent, to $30.24, while Schering Plough rose $1.44, or 8.2 percent, to $18.91. D.R. Horton jumped $1.31, or 21 percent, to $7.42, and UPS rose $2.58, or 6.1 percent, to $45.

Motorola fell 50 cents, or 11 percent, to $4.04.

Among financials, PNC Financial fell $2.33, or 7.2 percent, to $29.85. Bank of America Corp. fell 70 cents, or 12 percent, to $5.30.

Regional banks saw some of the biggest selling. SunTrust Banks Inc. fell $1.93, or 16 percent, to $10.02, while Fifth Third Bancorp fell 30 cents, or 14 percent, to $1.79.

Overseas, Britain's FTSE 100 rose 2.13 percent, Germany's DAX index rose 2.43 percent, and France's CAC-40 rose 1.79 percent. Japan's Nikkei stock average fell 0.62 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street is now worrying about the companies usually seen as safe havens.

After an early rally Wednesday, investors succumbed to concerns about disappointing earnings and the market ended the day with a loss. Falling consumer stocks weighed most heavily on the Dow Jones industrial average, which slid 122 points. Meanwhile, the tech-focused Nasdaq composite index showed only a moderate retreat.

Fourth-quarter numbers from Kraft Foods Inc., Walt Disney Co. and Time Warner Inc. provided the latest reminder of the economy's struggles. The weaker-than-expected reports and a profit warning from Costco Wholesale Corp. left investors fearing that consumers are cutting back even more than most analysts thought.

*The NYSE DOW closed LOWER -121.70 points	-1.51% on Wednesday February 4*
Sym Last........ ........Change..........
Dow	7,956.66	-121.70	-1.51%
Nasdaq	1,515.05	-1.25	-0.08%
S&P 500	832.23	-6.28	-0.75%
30-yr Bond	3.6730%	+0.0500

NYSE Volume	6,455,215,000
Nasdaq Volume	2,237,698,250

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,228.60	+64.14	+1.54%
DAX	4,492.79	+117.83	+2.69%
CAC 40	3,068.99	+86.60	+2.90%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,038.94	+213.43	+2.73%
Hang Seng	13,063.89	+287.00	+2.25%
Straits Times	1,707.39	-4.53	-0.26%

http://finance.yahoo.com/news/Stocks-fall-on-worries-about-apf-14255953.html
*Stocks fall on worries about consumer companies

Stocks fall as investors worry about profits at consumer staples companies; Dow falls 122*

    * Madlen Read and Tim Paradis, AP Business Writer
    * Wednesday February 4, 2009, 4:54 pm EST

NEW YORK (AP) -- Wall Street is now worrying about the companies usually seen as safe havens.

After an early rally Wednesday, investors succumbed to concerns about disappointing earnings and the market ended the day with a loss. Falling consumer stocks weighed most heavily on the Dow Jones industrial average, which slid 122 points. Meanwhile, the tech-focused Nasdaq composite index showed only a moderate retreat.

Fourth-quarter numbers from Kraft Foods Inc., Walt Disney Co. and Time Warner Inc. provided the latest reminder of the economy's struggles. The weaker-than-expected reports and a profit warning from Costco Wholesale Corp. left investors fearing that consumers are cutting back even more than most analysts thought.

"Consumer staples have enjoyed relative safety in this environment and now these new revelations are raising questions among investors," said Jack A. Ablin, chief investment officer at Harris Private Bank in Chicago.

The market had rallied early in the day after a better-than-expected reading on the service sector. The Institute for Supply Management said the sector shrank in January at a slower pace than in December. Still, it was the fourth straight month that business activity in services contracted.

The trade association of purchasing executives said its index rose to 42.9 in January from a revised 40.1 in December. Analysts had expected a reading of 39, according to a survey by Thomson Reuters. The ISM's report on the manufacturing sector, issued Monday, similarly came in above expectations even as it signaled continuing weakness.

"There's so much uncertainty right now that investors are looking for any clues that the economy may be starting to stabilize and turn around," said Michael Sheldon, chief market strategist at RDM Financial Group.

Wall Street was also hoping that lawmakers in Washington would soon show further progress on a bill to help revive the economy by boosting spending and lowering taxes.

The Senate is getting closer to passing a $900 billion stimulus plan. A similar plan has already cleared the House.

"Overall, we seem to be having a tug of war between very weak economic data and the prospect of a pickup in growth later this year helped by the upcoming stimulus package and potential help for the housing and financial services industries," Sheldon said.

According to preliminary calculations, the Dow fell 121.70, or 1.51 percent, to 7,956.66.

Broader indicators also fell. The Standard & Poor's 500 index fell 6.28, or 0.75 percent, to 832.23, and the Nasdaq composite index fell 1.25, or 0.08 percent, to 1,515.05.

The Russell 2000 index of smaller companies fell 4.42, or 0.98 percent, to 448.48.

Declining issues outnumbered advancers by about 3 to 2 on the New York Stock Exchange, where volume came to 1.39 billion shares, compared with 1.35 billion shares traded Tuesday.

Trading has been erratic in recent days. Investors coming off the market's worst January ever have been searching for bargains among battered stocks and looking for signs the economy might be bottoming out. The stock market finished Tuesday with a gain, sending the major indexes up more than 1 percent, thanks to reassuring data about pending home sales and better-than-expected earnings reports from companies like drugmakers.

Bond prices were mixed Wednesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.93 percent from 2.88 percent late Tuesday. The yield on the three-month T-bill, considered one of the safest investments, dipped to 0.30 percent from 0.32 percent.

On Tuesday, the three-month yield rose to its highest level since December. The increase indicated some investors were backing out of the safest parts of the market and moving into riskier but higher-yielding areas like corporate debt. Demand is still high for government debt but well off the panicked levels seen in the fall.

The Treasury Department said Wednesday it is bringing back the seven-year note and doubling the number of its 30-year bond auctions as it tries to handle a surging budget deficit projected to top $1 trillion this year.

The dollar was mixed against other major currencies. Gold prices rose.

Light, sweet crude fell 46 cents to settle at $40.32 a barrel on the New York Mercantile Exchange.

The latest corporate profit reports weighed on the market. Kraft posted a fourth-quarter profit drop of 72 percent, as revenue from the Velveeta, Oreo cookies and Maxwell House coffee businesses could not make up for high restructuring costs. The stock fell $2.63, or 9.2 percent, to $26.11.

The media industry posted several downbeat reports as well. Disney said late Tuesday its fourth-quarter earnings fell 32 percent. Time Warner reported a fourth-quarter loss of $16 billion after the conglomerate wrote down the value of its cable, publishing and AOL assets.

Disney fell $1.62, or 7.9 percent, to $19, while Time Warner fell 36 cents, or 3.7 percent, to $9.42.

Costco fell $3.14, or 6.8 percent, to $42.98 after reporting that its January sales fell and after the wholesale club chain warned that its second-quarter results would fall well short of Wall Street's expectations.

Bank stocks fell again as investors worried about what might come from the government's plans to help prop up banks. Investors are worried the steps could hurt shareholders by diluting the value of their stock.

Bank of America Corp. shares fell 60 cents, or 11 percent, to $4.70. The stock traded as low as $4.62, the lowest level in 19 years.

Part of Bank of America's decline came as its shares fell below $5. That triggered selling from some mutual funds prohibited from holding stocks that slip below $5.

Overseas, Britain's FTSE 100 rose 1.54 percent, Germany's DAX index rose 2.69 percent, and France's CAC-40 rose 2.90 percent. Japan's Nikkei stock average rose 2.73 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors shook off weak economic readings Thursday and placed bets on retail and technology stocks after several companies posted better-than-expected sales and profit reports. The major indexes gained more than 1 percent, including the Dow Jones industrial average, which rose 106 points.

Retailers including Wal-Mart Stores Inc. and Macy's Inc. turned in better-than-expected sales figures for January.

Wal-Mart's sales beat Wall Street's forecasts after the chain drew shoppers focused on necessities like groceries. Macy's, which this week said it would slash 7,000 jobs, on Thursday raised its fourth-quarter and full-year forecasts after reporting its sales.

*The NYSE DOW closed HIGHER +106.41 points	+1.34% on Thursday February 5*
Sym Last........ ........Change..........
Dow	8,063.07	+106.41	+1.34%
Nasdaq	1,546.24	+31.19	+2.06%
S&P 500	845.85	+13.62	+1.64%
30-yr Bond	3.6340%	-0.0390

NYSE Volume	7,585,021,500
Nasdaq Volume	2,574,624,750

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,228.93	+0.33	+0.01%
DAX	4,510.49	+17.70	+0.39%
CAC 40	3,066.29	-2.70	-0.09%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,949.65	-89.29	-1.11%
Hang Seng	13,178.90	+115.01	+0.88%
Straits Times	1,704.60	-2.79	-0.16%

http://finance.yahoo.com/news/Stocks-jump-as-retail-tech-apf-14272877.html
*Stocks jump as retail, tech stocks advance

Wall Street adds to gains as retailers, technology stocks advance; Dow industrials jump 106*

    * Madlen Read and Tim Paradis, AP Business Writer
    * Thursday February 5, 2009, 5:54 pm EST

NEW YORK (AP) -- Wall Street is getting a little daring once again.

Investors shook off weak economic readings Thursday and placed bets on retail and technology stocks after several companies posted better-than-expected sales and profit reports. The major indexes gained more than 1 percent, including the Dow Jones industrial average, which rose 106 points.

Retailers including Wal-Mart Stores Inc. and Macy's Inc. turned in better-than-expected sales figures for January.

Wal-Mart's sales beat Wall Street's forecasts after the chain drew shoppers focused on necessities like groceries. Macy's, which this week said it would slash 7,000 jobs, on Thursday raised its fourth-quarter and full-year forecasts after reporting its sales.

The industry's overall numbers were still weak as consumers again curtailed their spending, but not as bad as investors feared when they beat retail stocks down in recent months.

"We're being overly pessimistic on things like retailers," said Chris Cordaro, chief investment officer at RegentAtlantic Capital LLC in Morristown, N.J. "People realize you're going to have shop somewhere."

The technology-laden Nasdaq composite index led the major market indicators after Akamai Technologies Inc. said its fourth-quarter earnings rose a better-than-expected 13 percent as more customers signed up for its Internet traffic-management services.

"The economy at some point will recover and when it does, tech is a pretty interesting play," said Subodh Kumar, global investment strategist at Subodh Kumar & Associates in Toronto. "It will likely be one of the first movers."

The reports helped the market overcome a flurry of bad economic news. Unemployment benefits claims rose last week to a 26-year high, and factory orders fell for the fifth straight month in December. However productivity rose by 3.2 percent in the fourth quarter, more than twice what analysts expected.

Investors are bracing for Friday's January employment report from the Labor Department. The monthly reading is one of the most important economic indicators because rising unemployment cuts into how much consumers spend. Consumer spending accounts for more than two-thirds of U.S. economic activity.

"There are some indications tomorrow's unemployment report might not be as bad as expected," said Hugh Johnson, chief investment officer of Johnson Illington Advisors in Albany, N.Y.

A poor reading could deliver a big blow to the market, though expectations are low. Economists predict the unemployment rate rose to 7.5 percent in January from 7.2 percent in December. That would be the highest rate in 17 years.

The Dow industrials rose 106.41, or 1.34 percent, to 8,063.07. The Dow fell as much as 111 points early in the session. The blue chips hit their lowest level during trading since Nov. 21, which many investors are hoping will market the bottom in the stock market's decline from its October 2007 high.

Broader stock indicators also rose. The Standard & Poor's 500 index rose 13.62, or 1.64 percent, to 845.85, and the Nasdaq composite index rose 31.19, or 2.06 percent, to 1,546.24.

The Russell 2000 index of smaller companies rose 6.60, or 1.47 percent, to 455.08.

Advancing issues outnumbered losers by about 2 to 1 on the New York Stock Exchange, where volume came to 1.63 billion shares.

Bond prices were mixed Thursday. The yield on the benchmark 10-year Treasury note, which moves opposite to its price, fell to 2.92 percent from 2.94 percent late Wednesday. The yield on the three-month T-bill fell to 0.26 percent from 0.28 percent late Wednesday.

The gains in stocks came as investors again looked to Washington for help on the economy. Wall Street is waiting for a $920 billion economic stimulus plan to pass the Senate. Debate in the Senate continued for the fourth day Thursday.

Financial stocks recovered from early losses and helped lift the market following speculation the government could funnel aid to regional banks. Bank stocks also rose on reports that Treasury Secretary Timothy Geithner and other top officials are nearing completion of a plan to overhaul the government's $700 billion financial rescue program. A Treasury official told The Associated Press that Geithner will deliver a speech on Monday outlining the new plan.

Bank stocks moved higher. JPMorgan Chase & Co. rose 50 cents, or 2.1 percent, to $24.54, and PNC Financial Services Group Inc. rose $1, or 3.5 percent, to $29.83.

Regional banks also rose. Huntington Bancshares Inc. jumped 35 cents, or 24 percent, to $1.79. Regions Financial Corp. rose 33 cents, or 13 percent, to $2.83.

MasterCard Inc. jumped $19.69, or 14 percent, to $159.84 after its fourth-quarter earnings easily beat analysts expectations.

Retailers climbed after issuing their sales reports. Wal-Mart rose $2.14, or 4.6 percent, to $48.56, while Macy's rose 43 cents, or 5.2 percent, to $8.75. Target Corp. rose 95 cents, or 3 percent, to $32.29. Discount clothing retailer Ross Stores Inc. rose $2.38, or 8.4 percent, to $30.63.

Among tech stocks, Akamai rose $2.56, or 18 percent, to $16.73.

The dollar was mostly higher against other major currencies. Gold prices also climbed.

Light, sweet crude rose 85 cents to settle at $41.17 a barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 rose 0.01 percent, Germany's DAX index rose 0.39 percent, and France's CAC-40 slipped 0.09 percent. Japan's Nikkei stock average fell 1.11 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The Dow Jones industrial average closed the week up 279.73, or 3.50 percent, at 8,280.59. The Standard & Poor's 500 index rose 42.72, or 5.17 percent, to 868.60. The Nasdaq composite index rose 115.29, or 7.81 percent, closing at 1,591.71.*

Investors have taken another big gamble on the government's plans to help the economy -- hoping that this one will finally work.

All the major indexes rose more than 2 percent Friday, including the Dow Jones industrial average, which rose more than 200 points as Wall Street looked past another bleak jobs report and awaited word from Washington about an economic stimulus plan and changes to the government's financial rescue program. The advance helped propel the indexes to their first winning week after four straight weeks of losses, and put the Nasdaq composite in positive territory for the year to date.

The Senate was expected to vote on its version of a stimulus plan that would include a mix of spending and tax cuts. The Senate bill would cost $937 billion; the House already passed a similar version.

*The NYSE DOW closed HIGHER +217.52 points	+2.70% on Friday February 6*
Sym Last........ ........Change..........
Dow	8,280.59	+217.52	+2.70%
Nasdaq	1,591.71	+45.47	+2.94%
S&P 500	868.60	+22.75	+2.69%
30-yr Bond	3.6830%	+0.0490

NYSE Volume	7,387,017,000
Nasdaq Volume	2,454,563,750


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,291.87	+62.94	+1.49%
DAX	4,644.63	+134.14	+2.97%
CAC 40	3,122.79	+56.50	+1.84%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,076.62	+126.97	+1.60%
Hang Seng	13,655.04	+476.14	+3.61%
Straits Times	1,715.35	+10.75	+0.63%

http://finance.yahoo.com/news/Wall-Street-shrugs-off-apf-14285070.html

*Wall Street shrugs off January job losses of 598K

Stocks rise as investors look past January jobs data; Senate vote on stimulus looms*

    * Tim Paradis, AP Business Writer
    * Friday February 6, 2009, 6:12 pm EST

NEW YORK (AP) -- Investors have taken another big gamble on the government's plans to help the economy -- hoping that this one will finally work.

All the major indexes rose more than 2 percent Friday, including the Dow Jones industrial average, which rose more than 200 points as Wall Street looked past another bleak jobs report and awaited word from Washington about an economic stimulus plan and changes to the government's financial rescue program. The advance helped propel the indexes to their first winning week after four straight weeks of losses, and put the Nasdaq composite in positive territory for the year to date.

The Senate was expected to vote on its version of a stimulus plan that would include a mix of spending and tax cuts. The Senate bill would cost $937 billion; the House already passed a similar version.

Financial stocks led the market as investors also awaited the government's latest revisions to its lifeline for banks. Treasury Secretary Timothy Geithner and other top officials are close to finishing a plan to overhaul the government's $700 billion financial rescue fund. Geithner is expected to announce the changes in a speech on Monday.

Some investors were worried that the changes would involve nationalizing many banks and, in the process, wiping out shareholders. Many investors are hoping the plan will relax rules requiring businesses to assign a value to all of their assets each quarter. Advocates say altering the rule even temporarily could make it easier for banks to lend without worrying about depleting their cash reserves and running afoul of accounting standards.

Investors waiting for word on the government's plans were unfazed by a terrible employment reading. The Labor Department said U.S. employers slashed 598,000 jobs in January, the most since late 1974. The unemployment rate rose to 7.6 percent, the highest since late 1992.

"All focus right now is now is really on Washington," said Dan Cook, senior market analyst at IG Markets in Chicago. He said investors are hoping the unemployment report was bad enough to goad lawmakers into swift action on the stimulus plan.

Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York, said investors now are wondering "will government stimulus stop this virus that's spreading throughout the country?"

Cook said investors are eager for the stimulus plan to pass even if it takes time to work its way into the economy, as many economists predict.

"We just want to see a plan and have a direction," he said. "We can adjust from there and make moves on the fly."

But analysts caution that the plan won't repair the economy's problems overnight.

"As the realization sets in that this is going to take some time to work its way into the system confidence could wane a bit," said Matt King, chief investment officer for Bell Investment Advisors, in Oakland, Calif. In that case, the market would be following its pattern in recent months as other government steps were unveiled -- early euphoria dissipated as the reality of a troubled economy set in.

The Dow industrials rose 217.52, or 2.70 percent, to 8,280.59 after rising 106 on Thursday.

Broader stock indicators also jumped. The Standard & Poor's 500 index rose 22.75, or 2.69 percent, to 868.60, and the Nasdaq composite index rose 45.47, or 2.94 percent, to 1,591.71.

The day's gains have left the Nasdaq higher for the year; investors have been turning to the index's tech stocks on the belief they will help lead the market higher. The Nasdaq ended the week with a huge 7.81 percent gain, while the Dow was up 3.5 percent and the S&P 500 rose 5.17 percent.

The Russell 2000 index of smaller companies rose 15.62, or 3.43 percent, to 470.70. It rose 6.13 percent for the week.

Advancing issues outnumbered decliners by about 5 to 1 on the New York Stock Exchange, where consolidated volume came to 6.38 billion shares compared with 6.51 billion shares traded Thursday.

On Thursday, the major indexes soared more than 1 percent as Wall Street shrugged off troubling economic reports and searched for bargains among battered retail and technology stocks.

Bond prices were mixed Friday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.99 percent from 2.92 percent late Thursday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.27 percent from 0.26 percent.

The dollar was mostly higher against other major currencies. Gold prices edged higher.

Light, sweet crude fell $1 to $40.17 a barrel on the New York Mercantile Exchange.

Friday's rally reflects fear among some investors that they will miss out on a jump in stocks if the government comes up with the right mix of medicine for the economy, King said. Some of the buying was also likely the result of short covering -- investors who borrowed stock and sold it on expections the market would fall had to buy stock to repay the loans.

Many of the Friday's steepest gains occurred in hard-hit parts of the market like financials and retailers.

Financial stocks rose. Bank of America Corp. jumped $1.29, or 26.7 percent, to $6.13, while JPMorgan Chase & Co. rose $3.09, or 12.6 percent, to $27.63. Smaller banks also rose. Fifth Third Bancorp rose 99 cents, or 60.4 percent, to $2.63. State Street Corp. advanced $2.95, or 10.7 percent, to $30.49.

Among retailers, Macy's Inc. advanced 95 cents, or 10.9 percent, to $9.70.

Overseas, Britain's FTSE 100 rose 1.49 percent, Germany's DAX index rose 2.97 percent, and France's CAC-40 rose 1.84 percent. Japan's Nikkei stock average rose 1.60 percent.

The Dow Jones industrial average closed the week up 279.73, or 3.50 percent, at 8,280.59. The Standard & Poor's 500 index rose 42.72, or 5.17 percent, to 868.60. The Nasdaq composite index rose 115.29, or 7.81 percent, closing at 1,591.71.

The Russell 2000 index, which tracks the performance of small company stocks, rose 27.17, or 6.13 percent, to 470.70.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended at 8,785.09, up 449.45 points, or 5.39 percent, for the week. A year ago, the index was at 13,418.18.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors are waiting for Washington to make the next move.

Stocks ended a quiet session with only modest changes Monday as Wall Street sought details of how the government will reshape a rescue plan for the financial industry. Investors are also watching as political leaders scramble to put together an economic stimulus program.

The market is awaiting a Tuesday speech by Treasury Secretary Timothy Geithner outlining President Barack Obama's plan to overhaul the government's $700 billion financial bailout package. Congress passed the measure last fall as the credit markets began to seize up on fears about rising levels of bad debt. Geithner had been scheduled to announce the plan Monday, but the White House pushed back the speech to focus on the stimulus bill.

*The NYSE DOW closed LOWER -9.72 points	-0.12% on Monday February 9*
Sym Last........ ........Change..........
Dow	8,270.87	-9.72	-0.12%
Nasdaq	1,591.56	-0.15	-0.01%
S&P 500	869.89	+1.29	+0.15%
30-yr Bond	3.7060%	+0.0230

NYSE Volume	5,675,245,000
Nasdaq Volume	1,909,824,620


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,307.61	+15.71	+0.37%
DAX	4,666.82	+22.19	+0.48%
CAC 40	3,134.87	+12.08	+0.39%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,969.03	-107.59	-1.33%
Hang Seng	13,769.06	+114.02	+0.84%
Straits Times	1,682.34	-33.01	-1.92%

http://finance.yahoo.com/news/Stocks-end-mixed-as-investors-apf-14301780.html
*Stocks end mixed as investors look to Washington

Stocks end little changed as investors await details on financial rescue, economic stimulus*

    * Tim Paradis, AP Business Writer
    * Monday February 9, 2009, 5:29 pm EST
NEW YORK (AP) -- Investors are waiting for Washington to make the next move.

Stocks ended a quiet session with only modest changes Monday as Wall Street sought details of how the government will reshape a rescue plan for the financial industry. Investors are also watching as political leaders scramble to put together an economic stimulus program.

The market is awaiting a Tuesday speech by Treasury Secretary Timothy Geithner outlining President Barack Obama's plan to overhaul the government's $700 billion financial bailout package. Congress passed the measure last fall as the credit markets began to seize up on fears about rising levels of bad debt. Geithner had been scheduled to announce the plan Monday, but the White House pushed back the speech to focus on the stimulus bill.

The Senate is expected to pass an $827 billion stimulus bill on Tuesday. The government, however, still faces the challenge of reconciling the Senate bill with the House's $819 billion version that passed earlier. Republicans and Democrats have been at odds over the plan, which is designed to help pull the economy out of the worst recession in decades. The Obama administration is still pressing to have the stimulus measure on the president's desk for signing by the middle of this month.

Federal Reserve Chairman Ben Bernanke is also expected to testify Tuesday at a House Financial Services Committee hearing on the central bank's efforts to revive lending during the financial crisis.

Investors were hesitant to make big moves with so much news expected from Washington in the coming days.

"We saw a lot of buying ahead of the announcements," said Chris Johnson, president of Johnson Research Group. "Investors are simply biding their time to see if those expectations are going to be met."

The Dow Jones industrial average fell 9.72, or 0.12 percent, to 8,270.87. The blue chips fluctuated between gains and losses 49 times during the session.

Broader stock indicators were mixed after a big rally last week. The Standard & Poor's 500 index rose 1.29, or 0.15 percent, to 869.89, and the Nasdaq composite index slipped 0.15, or 0.01 percent, to 1,591.56.

The Russell 2000 index of smaller companies fell 2.76, or 0.59 percent, to 467.94.

Gainers outnumbered losers by about 8 to 7 on the New York Stock Exchange, where volume came to a light 1.26 billion shares.

On Friday, the market largely overlooked a horrible jobs report and rallied in anticipation of the stimulus bill and changes to the financial bailout. The Labor Department said U.S. employers slashed 598,000 jobs in January. That left the unemployment rate at 7.6 percent, the highest level since late 1992.

The Dow industrials ended last week up 3.5 percent, the S&P 500 index rose 5.2 percent and the Nasdaq posted a huge 7.8 percent gain.

"Given that we had a good two-day rally and a strong performance last week, it's not surprising that we would see some softness," said Alan Gayle, senior investment strategist at RidgeWorth Investments. "There is a tug of war between the problems that we know are in front of us and the promise that is expected between the bank rescue package and the stimulus plan."

Bond prices ended mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was unchanged at 2.99 percent from late Friday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.32 percent from 0.27 percent late Friday.

The dollar was mixed against other major currencies. Gold prices fell.

Light, sweet crude fell 61 cents to settle at $39.56 a barrel on the New York Mercantile Exchange.

Johnson cautioned that stocks could give up some of their recent gains even if investors are pleased by changes to the financial rescue fund and if Washington is able to pass the stimulus package.

"If everyone is betting on it, the payout on the other side is going to continue to decline," he said, likening the market's recent rally on predictions of an improved economy to what happens when too many gamblers wager on the same horse.

Amid the anticipation over the government's plans there were stark reminders that an economic recovery is still far off.

Nissan Motor Co. said it will slash 20,000 jobs, or 8.5 percent of its global work force, over the next year to cope with what the Japanese automaker expects will be its first annual loss in nine years.

Meanwhile, Barclays PLC warned that further asset write-downs -- on top of the massive $11.9 billion booked for 2008 -- were likely and said executive directors would not be getting any bonuses. However, Britain's third-largest bank by assets said its 2008 net profit fell only 1 percent, boosted by last September's acquisition of part of failed investment bank Lehman Brothers Holdings Inc.

Financial stocks led the market higher ahead of the latest version of the Treasury Department financial rescue plan. Bank of America Corp. jumped 76 cents, or 12.4 percent, to $6.89, while General Electric Co. rose $1.54, or 13.9 percent, to $12.64. GE has a big finance arm.

Overseas, Britain's FTSE 100 rose 0.37 percent, Germany's DAX index rose 0.48 percent, and France's CAC-40 rose 0.39 percent. Japan's Nikkei stock average dropped 1.33 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors are frustrated with the government's latest bank bailout plan -- and showing it by unloading stocks. The major stock indexes fell more than 4 percent Tuesday, including the Dow Jones industrial average, which tumbled 382 points. Financial stocks led the market lower, a sign of how concerned Wall Street is about the government's ability to restore the health of the banking industry.

Traders and investors said the lack of specifics from Treasury Secretary Timothy Geithner on how the government will direct more than $1 trillion in public and private support was troubling.

The plan is aimed at restoring proper functioning to credit markets, which seized up over worries about bad debt after the September bankruptcy of Lehman Brothers Holdings Inc. The latest plan calls for a government-private sector partnership to help remove banks' soured assets from their books. It would also boost an effort to unclog the credit markets that govern loans to consumers and businesses.

*The NYSE DOW closed LOWER -381.99 points	-4.62% on Tuesday February 10*
Sym Last........ ........Change..........
Dow	7,888.88	-381.99	-4.62%
Nasdaq	1,524.73	-66.83	-4.20%
S&P 500	827.16	-42.73	-4.91%
30-yr Bond	3.5300%	-0.1760

NYSE Volume	8,078,786,000
Nasdaq Volume	2,500,266,000


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,213.08	-94.53	-2.19%
DAX	4,505.54	-161.28	-3.46%
CAC 40	3,020.75	-114.12	-3.64%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,945.94	-23.09	-0.29%
Hang Seng	13,880.64	+111.58	+0.81%
Straits Times	1,703.29	+20.95	+1.25%

http://finance.yahoo.com/news/Stocks-plunge-as-government-apf-14316664.html
*Stocks plunge as government unveils bailout plan

Wall Street plunges as government unveils latest plan to support banking system; Dow falls 382*

    * Tim Paradis, AP Business Writer
    * Tuesday February 10, 2009, 5:34 pm EST
NEW YORK (AP) -- Investors are frustrated with the government's latest bank bailout plan -- and showing it by unloading stocks. The major stock indexes fell more than 4 percent Tuesday, including the Dow Jones industrial average, which tumbled 382 points. Financial stocks led the market lower, a sign of how concerned Wall Street is about the government's ability to restore the health of the banking industry.

Traders and investors said the lack of specifics from Treasury Secretary Timothy Geithner on how the government will direct more than $1 trillion in public and private support was troubling.

The plan is aimed at restoring proper functioning to credit markets, which seized up over worries about bad debt after the September bankruptcy of Lehman Brothers Holdings Inc. The latest plan calls for a government-private sector partnership to help remove banks' soured assets from their books. It would also boost an effort to unclog the credit markets that govern loans to consumers and businesses.

"The good news is they are going to spend a trillion dollars, the bad news is they don't know how," said James Cox, managing partner at Harris Financial Group.

"They built this up as being a panacea," he said. "There was so much hope pinned on them to do a good job. The expectations have been so high. It's hard to live up to."

Investors also questioned whether this plan, which followed previous efforts in the final months of 2008, would work. Some selling was to be expected, however, as stocks rose sharply last week ahead of the announcement.

Geithner's speech "basically puts a spotlight on the fact that the government has no idea how to fix the problem," said Jeff Buetow, senior portfolio manager at Portfolio Management Consultants. "People bought on rumor and hope, and now they're selling on reality."

Investors focused on the financial rescue showed little reaction to the Senate's approval of its $838 billion economic stimulus package. The bill must now be reconciled with an $819 billion version passed by the House. Congressional leaders hope to have the bill on President Barack Obama's desk before a recess next week.

"The economy is in deep trouble. The stimulus plan is not very stimulative. It's not addressing the real problem," Buetow said. "We have an insolvent financial system. The government is trying to find a comprehensive way to save it. They can't afford to just throw money at it. That's what they tried to do in the fall and that clearly did not work."

Stocks extended their slide after Federal Reserve Chairman Ben Bernanke didn't elaborate on the plan in testimony at a House Financial Services Committee hearing. Instead, Bernanke said the programs designed to revive the credit markets are showing promise and that any fix to the worst financial crisis since the 1930s would take time to work.

According to preliminary calculations, the Dow industrials fell 381.99, or 4.62 percent, to 7,888.88. It was the lowest close since Nov. 20, when the blue chips finished at their lowest level since March 2003.

Broader stock indicators also tumbled. The Standard & Poor's 500 index fell 42.73, or 4.91 percent, to 827.16, and the Nasdaq fell 66.83, or 4.20 percent, to 1,524.73.

The Russell 2000 index of smaller companies fell 22.17, or 4.74 percent, to 445.77.

Declining issues outnumbered advancers by about 6 to 1 on the New York Stock Exchange, where volume came to 1.76 billion shares.

Bond prices jumped as investors sought the safety of government debt. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.83 percent from 2.99 percent late Monday. The yield on the three-month T-bill, considered one of the safest investments, slipped to 0.31 percent from 0.32 percent late Monday.

The dollar rose against other major currencies. Gold prices also rose.

Light, sweet crude fell $2.01 to settle at $37.55 a barrel on the New York Mercantile Exchange.

Peter Jankovskis, co-chief investment officer at OakBrook Investments, said the government's plan doesn't resolve the question of how much the troubled assets weighing down banks' books are worth. By providing funds to purchase the assets or by buying them outright the government risks hurting banks by paying too little or hurting tax payers by paying too much.

"Valuation is the fundamental issue," Jankovskis said.

Scott Valentin, an analyst at Friedman, Billings, Ramsey & Co. said the government might be playing politics by not proposing measures that would touch off great debate in Washington and meet with public approval. A government takeover of a bank, for example, wouldn't be politically palatable, he said.

"There are some people that believe the government is dancing around the issue of what has to be done and what is politically acceptable," he said.

Valentin also said some of the drop in stocks could be hastened by short sellers -- investors who place bets that a stock will fall.

Short sellers last week snapped up shares of financial stocks to cover their bets in case Geithner's announcement sent stocks higher. Now, those investors can put their pessimistic bets back in place. This can weigh on the price of a stock and exacerbate selling.

Investors are simply left with many questions.

"I think generally we just don't know enough. We just don't know enough of what it all means," said Jon Biele, head of capital markets at Cowen & Co. "It's digestion time."

Most other news only added to investors' worries. The government reported that wholesalers cut back on their inventories in December by the largest amount in 16 years. The reduction means wholesalers ordered fewer new goods, leading to reduced production and potentially more job losses.

The Commerce Department said wholesale inventories plunged by 1.4 percent, nearly double analysts' expectations of 0.8 percent. It also was the fourth straight monthly decline.

Bank stocks saw the biggest selling. Bank of America Corp. fell $1.33, or 19.3 percent, to $5.56, while Wells Fargo & Co. fell $2.71, or 14.2 percent, to $16.35.

Regional banks also showed big drops. Fifth Third Bancorp fell 70 cents, or 24 percent, to $2.19, while Huntington Bancshares Inc. fell 65 cents, or 25 percent, to $1.96. Conglomerate General Electric Co., which has a big finance arm and often trades like a bank stock, fell $1.02, or 8.1 percent, to $11.62.

Principal Financial Group Inc. fell $5.04, or 30 percent, to $11.99 after the insurer posted a fourth-quarter loss on investment and loan losses. The company's report raised fears that the company will be forced to raise cash.

More downbeat corporate news served as unnecessary reminders of just how bad the economic situation remains.

Alcoa Inc. fell 85 cents, or 10 percent, to $7.65 after a ratings agency slashed the aluminum producer's corporate credit rating. Standard & Poor's Ratings Services said it expected the company's credit metrics to deteriorate significantly this year.

General Motors Corp. said it will cut 10,000 salaried jobs in 2009, as part of the restructuring plan the company submitted to Congress late last year. GM fell 13 cents, or 4.6 percent, to $2.70.

Overseas, Britain's FTSE 100 fell 2.19 percent, Germany's DAX index fell 3.46 percent, and France's CAC-40 fell 3.64 percent. Japan's Nikkei stock average fell 0.29 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors shuttled between optimism and pessimism Wednesday, finally betting that the government might help the economy out of recession after all.

News in late afternoon that key lawmakers agreed on a $789 billion economic stimulus plan sent stocks moderately higher. The advance, which came in a back-and-forth session, came a day after stocks plunged on worries about the government's financial industry bailout plan.

The stimulus measure includes provisions for unemployment benefits, food stamps, health coverage and more. It also includes billions for states facing yawning budget gaps.

*The NYSE DOW closed HIGHER +50.65 points 	+0.64% on Wednesday February 11*
Sym Last........ ........Change..........
Dow	7,939.53	+50.65	+0.64%
Nasdaq	1,530.50	+5.77	+0.38%
S&P 500	833.74	+6.58	+0.80%
30-yr Bond	3.45%	-0.08

NYSE Volume	6,024,011,000
Nasdaq Volume	2,258,047,000


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,234.26	+21.18	+0.50%
DAX	4,530.09	+24.55	+0.54%
CAC 40	3,027.72	+6.97	+0.23%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,945.94	-23.09	-0.29%
Hang Seng	13,539.21	-341.43	-2.46%
Straits Times	1,721.97	+18.68	+1.10%

http://finance.yahoo.com/news/Stocks-rebound-on-agreement-apf-14327694.html
*Stocks end higher on agreement on stimulus bill

Stocks end moderately higher as lawmakers announce deal on $789 bln economic stimulus bill*

    * Tim Paradis, AP Business Writers
    * Wednesday February 11, 2009, 4:44 pm EST

NEW YORK (AP) -- Investors shuttled between optimism and pessimism Wednesday, finally betting that the government might help the economy out of recession after all.

News in late afternoon that key lawmakers agreed on a $789 billion economic stimulus plan sent stocks moderately higher. The advance, which came in a back-and-forth session, came a day after stocks plunged on worries about the government's financial industry bailout plan.

The stimulus measure includes provisions for unemployment benefits, food stamps, health coverage and more. It also includes billions for states facing yawning budget gaps.

Investors have been eager for any signals that the economy could begin to recover. Supporters hope the bill's mix of spending and tax cuts will increase consumer spending, which accounts for more than two-thirds of U.S. economic activity. Spending has stalled since the mid-September bankruptcy of Lehman Brothers Holdings Inc. froze credit markets and deepened the recession.

Washington was again the driver behind the market's moves on Wednesday. A day earlier, investors showed frustration with what they saw as a lack of details from Treasury Secretary Timothy Geithner on how the government plans to direct trillions of dollars in public and private aid to support the ailing financial system. Major stock market indexes tumbled more than 4 percent.

Chief executives of the nation's top banks appeared before a House committee Wednesday to answer questions about how they have put to use more than $160 billion in taxpayer money to date.

The testimony and the stimulus agreement commanded the market's attention.

Anthony Conroy, managing director and head trader for BNY ConvergEx Group, said investors are simply trying to keep ahead of the rush of news about the banking system and the economy.

"I think everybody is trying to get through all this news. Without healthy financials it's very hard to have a healthy economy," he said. "Everybody has to digest all the tidbits of information that are coming out."

According to preliminary calculations, the Dow Jones industrial average rose 50.65, or 0.64 percent, to 7,939.53.

Broader stock indicators also rose. The Standard & Poor's 500 index rose 6.58, or 0.80 percent, to 833.74, and the Nasdaq composite index rose 5.77, or 0.38 percent, to 1,530.50.

The Russell 2000 index of smaller companies rose 2.18, or 0.49 percent, to 447.95.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where volume came to a light 1.36 billion shares.

The 50-point rise in the Dow following a 381-point drop the day earlier is "not a strong statement here," said Kim Caughey, equity research analyst at Fort Pitt Capital Group. "More information is what we need. What I mean by that is what exactly has been agreed to with the stimulus plan."

And Wall Street remains nervous about how, exactly, Geithner's financial rescue plan will work out: how it will assess the banks, how it will price their bad assets, and how it will recreate a market for those assets.

Investors "reacted to bad news yesterday. There wasn't more bad news today," Caughey said. "People didn't have a good sleep and say 'Whew, was I wrong yesterday.'"

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.77 percent from 2.82 percent late Tuesday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.31 percent from 0.30 percent late Tuesday.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The last hour saved the day for DOW after falling by more than 245 points in earlier trading*

The stock market has made a late-day comeback, hoping that homeowners will get more help with their mortgages.

A Reuters report that the government plans to subsidize troubled homeowners' mortgage payments helped the Dow Jones industrial average pare sharp losses Thursday afternoon and finish down less than 7 points. The Federal Housing Finance Agency declined to comment on the report.

The idea of targeted help for homeowners impressed investors more than the government's $789 billion economic stimulus package and its revised plan to bail out problem banks.

*[The NYSE DOW closed LOWER -6.77 points	-0.09%on Thursday February 12/B]
Sym Last........ ........Change..........
Dow	7,932.76	-6.77	-0.09%**
Nasdaq	1,541.71	+11.21	+0.73%
S&P 500	835.19	+1.45	+0.17%
30-yr Bond	3.4620%	+0.0100

NYSE Volume	6,818,301,000
Nasdaq Volume	2,481,243,500


Europe
Symbol... Last...... .....Change.......
FTSE 100	4,202.24	-32.02	-0.76%
DAX	4,407.56	-122.53	-2.70%
CAC 40	2,964.34	-63.38	-2.09%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225	7,705.36	-240.58	-3.03%
Hang Seng	13,228.30	-310.91	-2.30%
Straits Times	1,684.96	-37.01	-2.15%

http://finance.yahoo.com/news/Stocks-mixed-after-report-of-apf-14346543.html

Stocks mixed after report of mortgage subsidies

Stocks reverse losses to end mixed after report tgovernment will subsidize mortgage payments

    * Madlen Read, AP Business Writer
    * Thursday February 12, 2009, 5:37 pm EST

NEW YORK (AP) -- The stock market has made a late-day comeback, hoping that homeowners will get more help with their mortgages.

A Reuters report that the government plans to subsidize troubled homeowners' mortgage payments helped the Dow Jones industrial average pare sharp losses Thursday afternoon and finish down less than 7 points. The Federal Housing Finance Agency declined to comment on the report.

The idea of targeted help for homeowners impressed investors more than the government's $789 billion economic stimulus package and its revised plan to bail out problem banks.

"It's one little piece of the puzzle that clears up some of the uncertainty," said Joe Keetle, senior wealth manager at Dawson Wealth Management.

This week has been a turbulent one for stocks, which rallied last week in anticipation of the stimulus package and the financial bailout plan. That rally was erased Tuesday after Treasury Secretary Timothy Geithner said the government will boost lending, determine which banks should get extra funding, and remove toxic assets from banks' books -- but he provided few details about how the plans would work.

And, indeed, many questions remain -- particularly about how the government plans to remove the complex, souring assets sitting on banks' balance sheets. No one knows how big the losses are going to be for banks, investors and taxpayers -- an uncertainty that has been weighing on stocks for months, especially in the financial sector.

"The market is saying, we will give you the capital when we know you've told us the truth about the garbage," said David Darst, chief investment strategist of Morgan Stanley's Global Wealth Management Group.

But the idea of a plan focused on the crux of the economy's problems -- the housing market -- came as at least a temporary relief to investors. If more homeowners are able to pay their mortgages, it would not only help the economy, but also keep mortgage-backed assets from losing more value.

The Dow Jones industrial average slipped 6.77, or 0.09 percent, to 7,932.76, after falling by more than 245 points in earlier trading. The blue-chip index got within 142 points of its Nov. 20 close of 7,552.29, which was a five-and-a-half year low.

"This is a massive reversal," said Craig Peckham, analyst at Jefferies & Co.

Broader stock indicators ended higher. The Standard & Poor's 500 index rose 1.45, or 0.17 percent, to 835.19, and the Nasdaq composite index rose 11.21, or 0.73 percent, to 1,541.71.

Peckham said stocks also got a lift from a report that a House committee might approve the temporary suspension of credit default swap trading. Credit default swaps are essentially insurance policies for bond defaults; problems in that market have led to massive losses for financial services companies -- most notably, the insurer American International Group Inc.

Declining issues outnumbered advancers by about 8 to 7 on the New York Stock Exchange, where volume came to 1.48 billion shares.

The biggest gainer in the Dow was Coca-Cola, which posted an 18 percent drop in fourth-quarter earnings but topped Wall Street's forecast in terms of adjusted earnings. The soft drink maker also said its case volume grew. Coca-Cola shares rose $3.12, or 7.6 percent, to $44.39.

Another bright spot for the stock market was a new low for the year in oil prices. Light, sweet crude for March delivery sank $1.96, more than 5 percent, to settle at $33.98 a barrel on the New York Mercantile Exchange.

Government bond prices were mostly lower. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.79 percent from 2.76 percent late Wednesday. The yield on the three-month T-bill fell to 0.28 percent from 0.29 percent.

The dollar rose against other major currencies, and gold prices also climbed.

Economic data was mixed Thursday.

The Commerce Department said Thursday that retail sales jumped 1 percent in January, the biggest increase in 14 months, after a 2.7 percent drop in December. Economists polled by Thomson Reuters had predicted that sales fell 0.8 percent last month.

The department also said, however, that businesses cut inventories 1.3 percent in December, the biggest reduction in seven years. The December decline was far steeper than the 0.9 percent decrease analysts had expected; cuts in inventories show that businesses foresee weak demand from customers.

Meanwhile, the Labor Department said first-time claims for unemployment benefits dropped to a seasonally adjusted 623,000, from an upwardly revised figure of 631,000 the previous week. The total came in above the 610,00 claims analysts had been expecting.

And the number of people still continuing to seek unemployment benefits rose to 4.81 million from 4.78 million, the highest since records began in 1967. Economists expected 4.8 million.

Overseas, Japan's Nikkei stock average fell 3.03 percent. Britain's FTSE 100 fell 0.76 percent, Germany's DAX index fell 2.70 percent, and France's CAC-40 fell 2.09 percent.*


----------



## bigdog

The US Market is closed on Monday for the President’s Day holiday.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The US Market is closed on Monday for the President’s Day holiday. *

The DOW weekly decline was 5.2 percent, the S&P 500 ended the week down 4.8 percent, and the Nasdaq finished the week down 3.6 percent.

Investors sent Washington a message this week: They won't commit to stocks until the government commits to a plan.

Stocks ended lower Friday, pushing the Dow Jones industrial average to its lowest close since last November.

The gears are moving in Washington. On Friday, the White House said President Obama will outline steps to stem home foreclosures next Wednesday, and the House passed a $787 billion economic stimulus bill.

[The NYSE DOW closed LOWER -82.35 points	-1.04% on Friday February 13
Sym Last........ ........Change..........
Dow	7,850.41	-82.35	-1.04%
Nasdaq	1,534.36	-7.35	-0.48%
S&P 500	826.84	-8.35	-1.00%
30-yr Bond	3.6820%	+0.2200

NYSE Volume	5,362,197,500
Nasdaq Volume	2,023,743,875


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,189.59	-12.65	-0.30%
DAX	4,413.39	+5.83	+0.13%
CAC 40	2,997.86	+33.52	+1.13%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,779.40	+74.04	+0.96%
Hang Seng	13,554.67	+326.37	+2.47%
Straits Times	1,705.64	+20.68	+1.23%

http://finance.yahoo.com/news/Stocks-fall-as-investors-cant-apf-14363535.html

*Stocks fall as investors can't shake economic woes

Stocks fall as investors crave more details on rescue plans; Dow hits another '09 low*

    * Madlen Read, AP Business Writer
    * Friday February 13, 2009, 5:34 pm EST

NEW YORK (AP) -- Investors sent Washington a message this week: They won't commit to stocks until the government commits to a plan.

Stocks ended lower Friday, pushing the Dow Jones industrial average to its lowest close since last November and leaving it with a weekly decline of 5.2 percent.

The gears are moving in Washington. On Friday, the White House said President Obama will outline steps to stem home foreclosures next Wednesday, and the House passed a $787 billion economic stimulus bill.

Wall Street is focused, though, on lingering uncertainties. The stimulus package -- too big for some, too small for others -- is far from proving itself effective in reviving the economy. Investors also hesitated to get too excited about the upcoming announcement on preventing home foreclosures, after their hopes got dashed earlier in the week.

The bulk of the market's decline this week came Tuesday, when U.S. Treasury Secretary Timothy Geithner said he would assess banks' financial health and remove their toxic assets with the help of the private sector -- but provided few details about how the process would work.

"Until we get this clarity, I think it's just stop and go. I don't think we collapse from here, but I don't think we go much higher," said Peter Cardillo, chief market economist at the brokerage house Avalon Partners Inc.

It's possible some clues will emerge from the meeting of Group of Seven finance ministers. Officials from leading industrial nations are discussing new financial markets rules, concerns about protectionist measures in stimulus plans, and the effect of the financial crisis on poorer countries. But few analysts anticipate major breakthroughs in the group's report Saturday.

A spate of gut-wrenching economic and corporate earnings reports over the past few weeks have also left the market deeply unsettled. On Friday, the University of Michigan delivered the latest dose of gloomy news, reporting that consumer sentiment dropped sharply in February. The economy should rebound eventually, but economists are unsure how much further it will slide in the meantime -- and fund managers don't know yet which companies will come out on top.

With stock prices so low, "you're certainly rewarded for risk-taking. Unfortunately, it's not a great environment to take a lot of risk," said Jack A. Ablin, chief investment officer at Harris Private Bank. "It's a game of chicken, and most of us are chickens."

The Dow fell 82.35, or 1.04 percent, to 7,850.41. It was the lowest close since Nov. 20, when the blue-chip index settled at a five-and-a-half month low of 7,552.29.

U.S. markets are closed Monday for Presidents Day.

Broader stock indicators also fell. The Standard & Poor's 500 index lost 8.35, or 1.00 percent, to 826.84, and the Nasdaq composite index decreased 7.35, or 0.48 percent, to 1,534.36. The S&P 500 ended the week down 4.8 percent, and the Nasdaq finished the week down 3.6 percent.

The Russell 2000 index of smaller companies fell 2.06, or 0.46 percent, to 448.36.

Bond prices declined. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.90 percent from 2.79 percent late Thursday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.30 percent from 0.28 percent.

The dollar fell against most other major currencies. Gold prices also declined.

Light, sweet crude rebounded $3.53 to settle at $37.51 a barrel on the New York Mercantile Exchange, after falling to its lowest price this year on Thursday.

Not all companies' quarterly results have disappointed Wall Street.

PepsiCo said its fourth-quarter profit fell, but the soft drink maker's adjusted results met analysts' expectations. Pepsi shares rose 57 cents to $52.57.

Abercrombie & Fitch Co. said its fourth-quarter profit slid 68 percent due to hefty asset impairment and tax costs and dropping sales. But the results, after stripping out one-time items, beat estimates. The teen retailer's shares rose $2.08, or 10 percent, to $22.78.

But the outlook for corporate America remains grim, and layoffs keep piling up.

Toyota Motor Corp., slammed by poor U.S. sales, said it is offering buyouts to about 18,000 workers. The Japanese automaker is also slashing executives' compensation up to 30 percent and cutting production. Toyota's U.S. shares fell $2.01, or 3 percent, to $65.45.

Overseas, Japan's Nikkei stock average rose 0.96 percent. Britain's FTSE 100 fell 0.30 percent, Germany's DAX index rose 0.13 percent, and France's CAC-40 rose 1.13 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The US Market is closed on Monday for the President’s Day holiday.*

The NYSE DOW closed LOWER -82.35 points -1.04% on Friday February 13


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,134.75	-54.84	-1.31%
DAX	4,366.64	-46.75	-1.06%
CAC 40	2,962.22	-35.64	-1.19%


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,750.17	-29.23	-0.38%
Hang Seng	13,455.88	-98.79	-0.73%
Straits Times	1,683.31	-22.33	-1.31%

http://finance.yahoo.com/news/World-markets-fall-as-Japans-apf-14371292.html
*Free Stock Symbol Lookup - Scottrade: Leading stock research
World markets fall as Japan's recession deepens

European, most Asian stock markets fall as Japan sinks deeper into recession
*
    * Louise Watt, Associated Press Writer
    * Monday February 16, 2009, 12:49 pm EST

LONDON (AP) -- World stock markets fell Monday, after new figures showed Japan's economy contracted at its quickest pace in 35 years and a weekend summit of Group of Seven finance ministers provided few concrete proposals to counter the economic crisis.

Drops in Europe followed losses in Asia, but trading volumes were subdued as U.S. markets remained closed for Presidents Day.

Britain's FTSE 100 closed down 1.3 percent at 4,134.75, Germany's DAX sank 1.1 percent to 4,366.64, and France's CAC 40 dropped 1.2 percent to 2,962.22.

Japan's worse-than-expected fourth quarter GDP numbers were a sobering reminder of the toll the worst economic downturn in decades is having on Asia's export-driven economies. The world's second-biggest economy shrank 3.3 percent from the previous quarter, or at an annual pace of 12.7 percent.

In Europe, financial stocks dragged markets lower. Shares in Lloyds Banking Group were volatile in London following the company's revelation Friday of larger-than-expected losses at recently acquired Halifax-Bank of Scotland and on market fears the combined company may be headed for nationalization. Shares dropped 20 percent in early trading, but regained ground to close down 8.1 percent. Shares had dropped 30 percent on Friday.

Insurance companies also dragged the FTSE 100 down. Legal & General Group Plc fell 10.5 percent, Prudential lost 8 percent and Aviva slipped 7 percent.

"Whereas before people were just selling banks, now they are looking at the risk involved with other financials," said Jane Coffey, head of equities at Royal London Asset Management.

Investors seemed disappointed after finance chiefs from the Group of Seven developed countries finished their meeting in Rome with pledges to work together to boost growth and unemployment, but stopped short of concrete measures.

Increasingly, investors are unconvinced world governments are acting quickly enough to counter the economic crisis, analysts said.

"The global recession is deeper than anticipated. At the same time policy makers are failing to deliver measures to address the problems," said Dariusz Kowalczyk, chief investment strategist for SJS Markets in Hong Kong. "It seems that what they're doing is too little too late."

In Asia, Japan's Nikkei 225 stock average edged down 0.4 percent to 7,750.17, and Hong Kong's Hang Seng Index dropped 0.7 percent to 13,455.88. South Korea's Kospi lost 1.4 percent.

India's benchmark tumbled 3.6 percent after the government, proposing its interim budget, offered no new stimulus measures. Markets in Australia and Singapore also retreated.

In Japan, several exporters were hurt by the data showing the economy sank deeper into recession.

The GDP figures represent the steepest drop for Japan since the oil shock of 1974 and outpaced output drops in the U.S. and the euro zone. A survey of economists by Kyodo news agency had projected an 11.6 percent annualized contraction.

"It's clearly very shocking data," said Clive McDonnell, head of Asia strategy at BNP Paribas Securities in Hong Kong. "The drop is certainly beyond our own quite negative expectations. (Japan's) policy response has not been as effective."

Bucking the wider trend, Shanghai's benchmark climbed 3 percent to 5 1/2-month high to extend China's recent really.

Since the start of the year, Shanghai's index has risen more than 31 percent. But analysts say the rise has been driven not by economic fundamentals, but by a surge in bank lending that has sent money flowing into the market.

"The economic fundamentals are not strong enough to support the market's rise," said Zhang Xiang, an analyst for Guodu Securities in Beijing. "The market is in an irrational state, which is not going to last long."

U.S. equity markets are closed Monday for Presidents Day. On Friday, the Dow fell 1 percent to 7,850.41, its lowest close since Nov. 20. The S&P also fell 1 percent, ending its week off 4.8 percent.

In the coming days, investors will be watching President Barack Obama, expected to sign the country's $787 billion economic stimulus measure on Tuesday. He plans to outline steps to stem home foreclosures on Wednesday, though analysts say investor enthusiasm surrounding the pending announcement is fairly low.

Oil prices, which jumped 10 percent last week, traded 47 cents lower at $37.04 for a barrel of light, sweet crude for March delivery. The contract rose $3.53 to settle at $37.51 a barrel on the New York Mercantile Exchange on Friday.

AP writers Jeremiah Marquez in Hong Kong, Tomoko A. Hosaka in Tokyo and researcher Bonnie Cao in Beijing contributed to this report.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors around the world are betting that even with government stimulus and bailout programs, the global recession will just have to run its course.

The problems that slammed stocks last year -- ailing banks, foundering automakers, tumbling home prices and cash-strapped consumers -- haven't let up. Instead, the issues have festered, and are threatening to push U.S. stocks back to levels not seen since the late 1990s.

As Obama signed his $787 billion stimulus bill and automakers scrambled to come up with restructuring plans, the Dow Jones industrial average closed down 297.81 points, or 3.79 percent, at 7,552.60 -- just 31-hundredths of a point above its post-meltdown Nov. 20 

[The NYSE DOW closed LOWER -297.81 points	-3.79% on Tuesday February 17
Sym Last........ ........Change..........
Dow	7,552.60	-297.81	-3.79%
Nasdaq	1,470.66	-63.70	-4.15%
S&P 500	789.17	-37.67	-4.56%
30-yr Bond	3.4860%	-0.1960

NYSE Volume	6,946,544,000
Nasdaq Volume	2,381,703,50


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,034.13	-100.62	-2.43%
DAX	4,216.60	-150.04	-3.44%
CAC 40	2,875.23	-86.99	-2.94%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,645.51	-104.66	-1.35%
Hang Seng	12,945.40	-510.48	-3.79%
Straits Times	1,637.92	-42.78	-2.55%

http://finance.yahoo.com/news/Stocks-drop-on-worries-about-apf-14389083.html
*Stocks drop on worries about economy, automakers

Global stocks sink on growing anxiety about deepening worldwide recession
*
Madlen Read, AP Business Writer
Tuesday February 17, 2009, 4:39 pm EST

NEW YORK (AP) -- Investors around the world are betting that even with government stimulus and bailout programs, the global recession will just have to run its course.

The problems that slammed stocks last year -- ailing banks, foundering automakers, tumbling home prices and cash-strapped consumers -- haven't let up. Instead, the issues have festered, and are threatening to push U.S. stocks back to levels not seen since the late 1990s.

As Obama signed his $787 billion stimulus bill and automakers scrambled to come up with restructuring plans, the Dow Jones industrial average closed down 297.81 points, or 3.79 percent, at 7,552.60 -- just 31-hundredths of a point above its post-meltdown Nov. 20 close of 7,552.29, which was its lowest close in five-and-a-half years.

The drop on Wall Street, which followed sharp pullbacks on overseas exchanges, brought the Dow within 102 points of the five-year trading low of 7,449.37 it reached last November, when investor sentiment was also sliding. The Standard & Poor's 500, index which fell 37.67, or 4.56 percent, to 789.17, came with 48 points of its 11-year low of 741.02.

With the way the market has been trading, those milestones could be breached in one or two sessions.

"We don't think the recession's over until at least the middle of the year, and that's even starting to seem very early," said JPMorgan equities anayst Thomas J. Lee, adding that the market's worries are "nothing new -- the magnitudes are worse."

The stock market is usually regarded as a forward-looking mechanism, but Lee pointed out that about one-third of the time, the S&P recovered around the same time as the economy.

"I'm tilting toward thinking we're going to have lows in mid-July," Lee said. "In the meantime, we're stuck in a range."

Wall Street is waiting for more specifics from the government on its various efforts to more adequately assess when to expect growth again. Obama is scheduled to discuss a program Thursday on preventing foreclosures, but investors are particularly anxious for details from the Treasury Department about its new rescue plan for the troubled banking sector.

Over the weekend, a meeting of Group of Seven finance ministers failed to produce any specific steps to revive the global financial system, either.

"The government has their hand on the tiller. They're steering. And that's the problem -- the markets are not confident the proper course has been set yet," said Henry Herrmann, chief executive officer at investment management firm Waddell & Reed.

The Nasdaq composite index fell 63.70, or 4.15 percent, to close at 1,470.66.

The decline in U.S. stocks occurred alongside a retreat in markets overseas. Japan's Nikkei stock average fell 1.4 percent; Britain's FTSE 100 fell 2.43 percent; Germany's DAX index fell 3.44 percent; and France's CAC-40 fell 2.94 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week down 484.74, or 6.2 percent, at 7,365.67. The Standard & Poor's 500 index fell 56.79, or 6.9 percent, to 770.05. The Nasdaq composite index fell 93.13, or 6.1 percent, closing at 1,441.23.

Wall Street ended another terrible week Friday, leaving major indexes down more than 6 percent as investors worried that the recession will persist for at least the rest of the year and that government intervention will do little to hasten a recovery.

Investors shaved 100 points off the Dow Jones industrial average just a day after the market's best-known indicator dropped to its lowest level since the depths of the last bear market, in 2002. Stocks of struggling financial companies were among the hardest hit.

The Standard & Poor's 500 index, the barometer most closely watched by market pros, came close to its lowest point in nearly 12 years.

*The NYSE DOW closed LOWER -100.28 points	-1.34% on Friday February 20*
Sym Last........ ........Change..........
Dow	7,365.67	-100.28	-1.34%
Nasdaq	1,441.23	-1.59	-0.11%
S&P 500	770.05	-8.89	-1.14%
30-yr Bond	3.5650%	-0.1230

NYSE Volume	9,522,299,000
Nasdaq Volume	2,573,722,500


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,889.06	-129.31	-3.22%
DAX	4,014.66	-200.55	-4.76%
CAC 40	2,750.55	-122.05	-4.25%


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,416.38	-141.27	-1.87%
Hang Seng	12,699.17	-324.19	-2.49%
Straits Times	1,594.94	-34.41	-2.11%

*Major indexes fall more than 6 percent for week

Wall Street ends another terrible week; major indexes drop by more than 6 percent*

    * Tim Paradis, AP Business Writer
    * Friday February 20, 2009, 7:32 pm EST

NEW YORK (AP) -- Wall Street ended another terrible week Friday, leaving major indexes down more than 6 percent as investors worried that the recession will persist for at least the rest of the year and that government intervention will do little to hasten a recovery.

Investors shaved 100 points off the Dow Jones industrial average just a day after the market's best-known indicator dropped to its lowest level since the depths of the last bear market, in 2002. Stocks of struggling financial companies were among the hardest hit.

The Standard & Poor's 500 index, the barometer most closely watched by market pros, came close to its lowest point in nearly 12 years.

"Right now, more than a crisis in mortgages or in housing, we have a crisis in confidence. That is biggest problem in trying to analyze the current market," said James Stack, president of market research firm InvesTech Research in Whitefish, Mont. "You cannot analyze psychology."

Wall Street has been sinking lower as investors come to terms with the fact that the optimism behind a late-2008 rally was clearly unfounded. Companies' forecasts for this year, on top of a dismal series of fourth-quarter earnings reports, pounded home the reality that no one can determine when the recession will end.

"It was a market that was built on that hope, and what we're seeing now is an unwinding of that," said Todd Salamone, director of trading and vice president of research at Schaeffer's Investment Research in Cincinnati, of the rally from late November to early January.

The disappointment seen this week arose from the market's growing recognition that the Obama administration's multibillion-dollar stimulus and bailout programs are unlikely to turn the economy around anytime soon.

"There were a lot of people that were banking on Washington to get us out of this. I don't know if there is anything Washington can do," Salamone said. He said the global economy is going through the tedious process of reducing borrowing and working through bad debt -- something government help can't speed up.

With the week erasing whatever shreds of hope the market had, there is virtually no chance of a rally on Wall Street. What the market might see is a blip upward -- but blips tend to evaporate quickly.

That's what happened Friday. Stocks erased some of their losses after White House press secretary Robert Gibbs doused fears that the government would nationalize crippled banks. Investors who worried about seeing their shares wiped out by a government takeover welcomed the news, but it didn't ease broader concerns about the economy.

The Dow Jones industrials briefly went into positive territory, but quickly turned down again.

Salamone said investors had been too hopeful in late 2008 and at the start of this year that the new administration would be able to swiftly disentangle the economy.

The Dow industrials fell 100.28 points, or 1.3 percent, to 7,365.67 after earlier falling more than 215 points. On Thursday, the Dow broke through its Nov. 20 low of 7,552.29, and closed at its lowest level since Oct. 9, 2002.

The Dow's 6.2 percent slide for the week was its worst performance since the week ended Oct. 10, when it lost 18.2 percent.

The Standard & Poor's 500 index on Friday fell 8.89, or 1.14 percent, to 770.05. The benchmark most watched by traders came within less than 2 points of its Nov. 20 close of 752.44, which was its lowest since April 1997. It remains above its Nov. 21 trading low of 741.02.

The Nasdaq composite index fell 1.59, or 0.11 percent, to 1,441.23.

For the week, the S&P fell 6.9 percent, while the Nasdaq lost 6.1 percent.

Declining issues outnumbered advancers by about 3 to 1 on the New York Stock Exchange, where consolidated volume came to a heavy 8.12 billion shares as options contracts expired. Volume on Thursday came to 5.64 billion shares.

The Russell 2000 index of smaller companies fell 5.75, or 1.4 percent, to 410.96.

Other world indicators also fell sharply. Britain's FTSE 100 declined 3.2 percent, Germany's DAX index tumbled 4.8 percent, and France's CAC-40 fell 4.3 percent.

Shares of financial bellwethers Citigroup Inc. and Bank of America Corp. fell on worries the government will have to take control of them. Citigroup tumbled 22 percent, while Bank of America fell 3.6 percent. The stocks were down as much as 36 percent during the session.

The fears about the banks are hurting shareholders of those companies and dragging down the rest of the market because the broader economy can't function properly when banks are unable to lend at more normal levels.

"Financing is the blood which runs through our nation's veins. It's what keeps us alive," said Lawrence Creatura, a portfolio manager at Federated Clover Investment Advisors.

He said the talk of nationalizing banks only underscores the troubles with the economy.

"Things are clearly not normal. It's not healthy. The patient was on life support, and now what we're talking about getting out the paddle with respect to nationalization," Creatura said.

As investors dropped out of stocks, safer investments like Treasury debt and gold rose. The price of the benchmark 10-year Treasury note rose sharply, sending its yield down to 2.79 percent from 2.86 percent. The yield on the three-month T-bill, considered one of the safest investments, fell to 0.26 percent from 0.30 percent late Thursday.

Gold broke above $1,000, closing at $1,002.20 an ounce on the New York Mercantile Exchange.

Investors are looking desperately at any safe havens simply because the stock market, which rises and falls on investors' expectations for the future, sees only trouble ahead.

"There's still a big fear factor syndrome," said Michael Strauss, chief economist and market strategist at Commonfund. "There is a focus on what is happening here and now instead of six months to nine months from now."

The Dow Jones industrial average closed the week down 484.74, or 6.2 percent, at 7,365.67. The Standard & Poor's 500 index fell 56.79, or 6.9 percent, to 770.05. The Nasdaq composite index fell 93.13, or 6.1 percent, closing at 1,441.23.

The Russell 2000 index, which tracks the performance of small company stocks, declined 37.40, or 8.3 percent, to 410.96.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended at 7,802.27, down 583.47, or 6.96 percent, for the week. A year ago, the index was at 13,758.35


----------



## barney

Gidday all ...... I dont trade the Dow very often but just wondering if the Advance Decline stats have any significance from last night .....

Dow drops 250 .... the Advancing Issues were only 15%, yet the Up Volume was 61%   ........... is that unusual or am I misinterpreting the numbers ??   Cheers.


ADVANCES & DECLINES
	NYSE	

Advancing Issues	589 (15%) 	

Declining Issues	3,265 (83%) 	

Unchanged Issues	85 (2%) 	

Total Issues	3,939	832	

Up Volume	*2,008,523,017 (61%)* 

Down Volume	*1,225,900,580 (37%) * 

Unchanged Volume	64,234,793 (2%) 	
Total Volume	3,298,658,3901


----------



## Aussiejeff

barney said:


> Gidday all ...... I dont trade the Dow very often but just wondering if the Advance Decline stats have any significance from last night .....
> 
> Dow drops 250 .... the Advancing Issues were only 15%, yet the Up Volume was 61%   ........... is that unusual or am I misinterpreting the numbers ??   Cheers.
> 
> 
> ADVANCES & DECLINES
> NYSE
> 
> Advancing Issues	589 (15%)
> 
> Declining Issues	3,265 (83%)
> 
> Unchanged Issues	85 (2%)
> 
> Total Issues	3,939	832
> 
> Up Volume	*2,008,523,017 (61%)*
> 
> Down Volume	*1,225,900,580 (37%) *
> 
> Unchanged Volume	64,234,793 (2%)
> Total Volume	3,298,658,3901




Haven't looked into it but maybe a few penny stocks went up (big volume - little effect on market) but most of the big value majors went down (small volume - big effect on market)?

Just a hunch...



aj


----------



## barney

barney said:


> Dow drops 250 .... the Advancing Issues were only 15%, yet the Up Volume was 61%   ........... is that unusual or am I misinterpreting the numbers ??   Cheers.
> 
> 
> 
> Advancing Issues	589 (15%)
> 
> Declining Issues	3,265 (83%)
> 
> Unchanged Issues	85 (2%)
> 
> Total Issues	3,939	832
> 
> Up Volume	*2,008,523,017 (61%)*
> 
> Down Volume	*1,225,900,580 (37%) *





Considering the turn around overnight, maybe anomalies on the UP/Down volume might be worth keeping an eye on ....  200+ points for a day trade would have been a nice pickup  ........     

Advancing Issues	3,189 (81%) 
Declining Issues	667 (17%) 
Up Volume	*3,232,458,436* (79%) 
Down Volume	*812,187,078* (20%)


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street ended a choppy session with a loss, but showed its resilience as investors heard answers to some of their big questions about banks.

The major indexes closed down about 1 percent Wednesday after recovering from steeper losses early in the day, continuing the volatile trading that has buffeted the market this week.

Investors had some of the uncertainty about the troubled banking system lifted when the Treasury Department confirmed it will buy preferred shares from banks that can be converted into common shares. The government also began to "stress test" the banks to determine their solvency if the economy worsened, and Federal Reserve Chairman Ben Bernanke rejected for the second straight day the notion that banks could be nationalized.

*The NYSE DOW closed LOWER -80.05 points	-1.09% on Wednesay February 25*
Sym Last........ ........Change..........
Dow	7,270.89	-80.05	-1.09%
Nasdaq	1,425.43	-16.40	-1.14%
S&P 500	764.90	-8.24	-1.07%
30-yr Bond	3.6010%	+0.1070

NYSE Volume	8,692,239,000
Nasdaq Volume	2,440,818,250


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,848.98	+32.54	+0.85%
DAX	3,846.21	-49.54	-1.27%
CAC 40	2,696.92	-11.13	-0.41%


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,461.22	+2.65%
Hang Seng	13,005.08	+206.56	+1.61%
Straits Times	1,616.79	+2.35	+0.15%

http://finance.yahoo.com/news/Stocks-end-down-as-weeks-apf-14470873.html
*Stocks end down as week's back-and-forth continues

Stocks finish lower; investors show resilience, but can't shrug fears about banks, economy*

    * Madlen Read and Sara Lepro, AP Business Writers
    * Wednesday February 25, 2009, 5:01 pm EST

NEW YORK (AP) -- Wall Street ended a choppy session with a loss, but showed its resilience as investors heard answers to some of their big questions about banks.

The major indexes closed down about 1 percent Wednesday after recovering from steeper losses early in the day, continuing the volatile trading that has buffeted the market this week.

Investors had some of the uncertainty about the troubled banking system lifted when the Treasury Department confirmed it will buy preferred shares from banks that can be converted into common shares. The government also began to "stress test" the banks to determine their solvency if the economy worsened, and Federal Reserve Chairman Ben Bernanke rejected for the second straight day the notion that banks could be nationalized.

The market managed to hold on to some of Tuesday's sharp gains, which saw a 236-point jump in the Dow Jones industrials, and that's a good sign, according to Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York. "We're not going to go from bear to bull in one day."

Investors remain worried, however, about the recession deepening, dividends disappearing and how the government will get toxic assets off banks' books.

"We're seeing a lot of nervousness, and that's breeding volatility," said Anthony Conroy, managing director and head trader for BNY ConvergEx Group. "We're definitely in a bottoming process of the market, but it's not coming as quickly as some people would like."

Investors appeared disappointed that a late-afternoon speech by President Barack Obama after he met with Treasury Secretary Timothy Geithner revealed few additional details about their plan for toxic assets.

And more bad news about the housing market left some traders nervous about hanging onto stocks snapped up a day earlier. The National Association of Realtors said sales of existing homes fell 5.3 percent to an annual rate of 4.49 million last month -- the worst showing since July 1997. Wall Street had expected sales would rise.

According to preliminary calculations, the Dow ended down 80.05, or 1.09 percent, to 7,270.89. The index tumbled by as many as 194 points in early trading, rebounded to trade 54 points above Tuesday's close, and then retreated again.

Broader stock indicators also recovered from earlier lows but finished down. The Standard & Poor's 500 index fell 8.24, or 1.07 percent, to 764.90, and the Nasdaq composite index fell 16.40, or 1.14 percent, to 1,425.43.

The Russell 2000 index of smaller companies fell 11.04, or 2.68 percent, to 401.44.

Declining issues narrowly outnumbered advancers on the New York Stock Exchange, where volume came to 1.22 billion shares.

The S&P 500 index's ability to hold above its November lows despite the market's severe volatility this week shows the potential for a stock recovery, said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. "We really just need more clarity."

On the whole, investors were neither disappointed nor galvanized by Obama's Tuesday night speech that touched on the need to create jobs and stabilize the credit system. He told a joint session of Congress that specifics on these and other goals would follow but that billions more may be needed to stabilize the banking system.

Until it is apparent how potential ownership structure of major U.S. banks will look after the government completes stress tests and determines specific plans to help the struggling sector, investors are likely to remain wary about buying financial shares, said Brett D'Arcy, chief investment officer, CBIZ Financial Solutions.

A handful of bank shares rebounded in afternoon trading, including those Bank of America Corp. -- a company that has gotten a double-dose of government funding, and that investors fear might need more. Bank of America rose 53 cents, or 11 percent, to $5.26, after the CEO made optimistic remarks about the company's stability in a television interview.

Other sectors are being dragged down unfairly by the gloom surrounding the market, such as health care and technology, D'Arcy said. Eventually, he said, these sectors will begin to rebound as investors recognize the value in them -- but it's uncertain when that might occur.

Among tech stocks, IBM Corp. fell 50 cents to $85.90. Microsoft Corp. shed 21 cents to $16.96, and Yahoo Inc. fell 27 cents, or 2 percent, to $12.48.

Government bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.94 percent from 2.80 percent late Tuesday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.30 percent from 0.29 percent.

The dollar rose against other major currencies, and gold prices fell.

Light, sweet crude rose $2.54 to settle at $42.50 a barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 rose 0.85 percent, Germany's DAX index fell 1.27 percent, and France's CAC-40 fell 0.41 percent. Earlier, Japan's Nikkei stock average rose 2.65 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

This time, health care stocks bore the brunt of investors' wrath.

Health insurers and drug companies, some of the better performers on Wall Street lately, led the market lower Thursday after the White House proposed cutting payments to private insurance plans.

The Obama administration's $3.55 trillion budget plan for 2010 includes cuts to Medicare and Medicaid. Private insurance plans serving Medicare seniors would take the biggest hit, but hospitals, drug manufacturers and home health agencies also face cuts.

*The NYSE DOW closed LOWER -88.81 points	-1.22% on Thursday February 26*
Sym Last........ ........Change..........
Dow	7,182.08	-88.81	-1.22%
Nasdaq	1,391.47	-33.96	-2.38%
S&P 500	752.83	-12.07	-1.58%
30-yr Bond	3.6460%	+0.0450

NYSE Volume	7,683,647,000
Nasdaq Volume	2,385,762,250


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,915.64	+66.66	+1.73%
DAX	3,942.62	+96.41	+2.51%
CAC 40	2,744.84	+47.92	+1.78%

http://finance.yahoo.com/news/Weak-health-care-stocks-drag-apf-14486543.html

*Weak health care stocks drag market lower

Stocks slide as White House proposal to tighten health care spending weighs on insurers*

    * Tim Paradis, AP Business Writer
    * Thursday February 26, 2009, 5:45 pm EST


NEW YORK (AP) -- This time, health care stocks bore the brunt of investors' wrath.

Health insurers and drug companies, some of the better performers on Wall Street lately, led the market lower Thursday after the White House proposed cutting payments to private insurance plans.

The Obama administration's $3.55 trillion budget plan for 2010 includes cuts to Medicare and Medicaid. Private insurance plans serving Medicare seniors would take the biggest hit, but hospitals, drug manufacturers and home health agencies also face cuts.

As investors became aware of the impact that the budget, if enacted, could have on the companies, they turned against what had been one of the strongest industries in the stock market recently. Market watchers had been looking to health care to help lead the market's recovery along with other recession-resistant industries like consumer staples.

Banking shares initially pulled much of the market higher as investors welcomed plans from Washington for additional bailout measures that could provide up to $750 billion in support to the struggling banking system. But the Obama administration said the money was for a contingency fund and that it didn't plan to immediately ask Congress to add to the government's existing $700 billion rescue program. Many financial stocks managed to close the day higher.

The day's gyrations showed how fractious the market is, with investors ready to turn on stocks at the first whiff of bad news. Wall Street also extended a back-and-forth pattern that began earlier in the week. Market watchers say the sudden shifts reflect indecision among investors rather than big changes in their sentiment over the economy.

"I don't think anybody is comfortable if you're in the market right now. You still have quite a bit of fear driving equity prices," said Bill Knapp, investment strategist for MainStay Investments, a division of New York Life Investment Management.

The major stock indexes gave up early leads to close lower.

The Dow Jones industrial average fell 88.81, or 1.2 percent, to 7,182.08, pulled down by stocks including drug maker Merck & Co., down $1.87, or 6.7 percent, at $26.04 and health products company Johnson & Johnson, off $1.52, or 2.8 percent, at $52.44.

The Standard & Poor's 500 index fell 12.07, or 1.6 percent, to 752.83 and the Nasdaq composite index fell 33.96, or 2.4 percent, to 1,391.47.

The Russell 2000 index of smaller companies fell 8.49, or 2.1 percent, to 392.95.

Declining issues outnumbered advancers by about 8 to 7 on the New York Stock Exchange, where consolidated volume came to 6.48 billion shares, down from Wednesday's 7.29 billion.

The early pop in hard-hit financial stocks was typical of the reaction of those shares in recent weeks after other financial rescue plans were announced, said Rob Lutts, chief investment officer at Cabot Money Management Inc. in Salem, Mass.

"You get a little bit of a positive reaction and then people look at the reality of it and say 'Wait a minute this doesn't really change anything right away,'" he said.

Financial shares also got a lift after banks in Europe announced plans to reshape operations.

The Royal Bank of Scotland announced a massive restructuring plan to jettison many of its businesses. The stock jumped $1.24, or 18.8 percent, to $7.83 in New York trading. And troubled Swiss bank UBS replaced its chief executive. UBS rose 88 cents, or 10 percent, to $9.64.

Investors watched for news from Citigroup Inc. The company's effort to boost its equity capital could result in the federal government raising its stake in the bank this week to as much as 40 percent, a person familiar with the talks said.

The company received $45 billion in U.S. bailout money made up primarily of debt-like preferred shares, plus federal guarantees to cover losses on some $300 billion in risky investments. The bank has been in talks with regulators over ways the government could help strengthen the bank still further.

While a deal wasn't announced during the session Thursday, it could be come within days, the person told The Associated Press late Wednesday, asking not to be named because the discussions are still continuing.

Among health insurers, WellPoint Inc. fell $3.78, or 9.7 percent, to $35.34, while UnitedHealth Group Inc. fell $2.96, or 12.9 percent, to $20.07. Aetna Inc. fell $3.05, or 11.3 percent, to $24.03.

In other news, General Motors Corp. reported a $9.6 billion loss for the fourth quarter and said it burned through $6.2 billion of cash in the final three months of 2008. Top GM executives were in Washington, D.C., Thursday to meet with the Obama administration's auto task force to talk about restructuring and additional loans. GM fell 17 cents, or 6.7 percent, to $2.38.

Bond prices were mixed Thursday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3 percent from 2.93 percent late Wednesday. The yield on the three-month T-bill, considered one of the safest investments, fell to 0.26 percent from 0.29 percent Wednesday.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude rose $2.72 to settle at $45.22 on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 rose 1.73 percent, Germany's DAX index rose 2.51 percent, and France's CAC-40 rose 1.78 percent. Earlier, Japan's Nikkei stock average slipped 0.04 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street ended another unforgiving month with a steep loss as Citigroup Inc. and General Electric Co. both unsettled investors.

Citigroup plans to turn over a big piece of itself to the government, a move that fanned worries that other banks would face crippling trouble with bad debt. And GE slashed its quarterly dividend by 68 percent. Both companies are part of the Dow Jones industrial average.

Stocks closed off their lows of the day, but still had big losses as the market had its sixth straight losing month. The Dow and the Standard & Poor's 500 index each shed more than 10 percent in February.

The NYSE DOW closed LOWER -119.15 points	-1.66% on Friday February 27
Sym Last........ ........Change..........
Dow	7,062.93	-119.15	-1.66%
Nasdaq	1,377.84	-13.63	-0.98%
S&P 500	735.09	-17.74	-2.36%
30-yr Bond	3.7220%	+0.0760

NYSE Volume	9,864,039,000
Nasdaq Volume	2,508,051,750


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,830.09	-85.55	-2.18%
DAX	3,843.74	-98.88	-2.51%
CAC 40	2,702.48	-42.36	-1.54%


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,568.42	+110.49	+1.48%
Hang Seng	12,811.57	-83.37	-0.65%
Straits Times	1,594.87	-22.57	-1.40%

http://finance.yahoo.com/news/Wall-Street-slides-after-apf-14498985.html
*Wall Street slides after Citigroup-government deal

Stocks slide as investors fret over fallout from Citigroup-government deal; GE cuts dividend
*
    * Tim Paradis, AP Business Writer
    * Friday February 27, 2009, 4:31 pm EST

NEW YORK (AP) -- Wall Street ended another unforgiving month with a steep loss as Citigroup Inc. and General Electric Co. both unsettled investors.

Citigroup plans to turn over a big piece of itself to the government, a move that fanned worries that other banks would face crippling trouble with bad debt. And GE slashed its quarterly dividend by 68 percent. Both companies are part of the Dow Jones industrial average.

Stocks closed off their lows of the day, but still had big losses as the market had its sixth straight losing month. The Dow and the Standard & Poor's 500 index each shed more than 10 percent in February.

Citigroup said before the opening bell that it had agreed to a deal in which the U.S. government and private investors including the government of Singapore and Saudi Arabian Prince Alwaleed Bin Talal will convert their preferred stock in the struggling bank to common shares. The plan won't require additional money from the U.S. government, which holds an 8 percent stake in Citigroup and would own 36 percent.

GE said late in the session it would cut its dividend to $9 billion a year. The conglomerate has a big financing arm, so it often trades like a bank stock.

Both moves made the stocks less attractive to investors and they pulled finanicals and the rest of the market lower.

According to preliminary calculations, the Dow fell 119.15, or 1.7 percent, to 7,062.93. The blue chips fell as much as 149 points to near the 7,000 mark, a level they haven't moved below since October 1997.

Broader stock indicators also dropped. The S&P 500 index fell 17.74, or 2.4 percent, to 735.09. The index breached its Nov. 21 trading low of 741.02, which came during the height of the credit crisis. Investors had hoped the November low would mark the bottom of the market's fall from October 2007.

The Nasdaq composite index fell 13.63, or 1 percent, to 1,377.84.

The major indexes haven't had a winning month since August.

The Russell 2000 index of smaller companies fell 3.93, or 1 percent, to 389.02.

Two stocks fell for every one that advanced on the New York Stock Exchange. Volume came to a heavy 2.25 billion shares.


----------



## bigdog

http://finance.yahoo.com/news/Wall-Street-heads-for-another-apf-14508137.html

*We will find out what happens tomorrow morning!!!!!!!!!*

*Wall Street heads for another big drop

Dow set to break below 7,000 as AIG gets more gov't funding, posts $61.7B loss*

    * Madlen Read, AP Business Writer
    * Monday March 2, 2009, 6:57 am EST

NEW YORK (AP) -- Wall Street headed for another big drop Monday, one that could hurl the Dow Jones industrials below 7,000, after American International Group Inc. posted a $61.7 billion quarterly loss.

The government said it would give AIG another $30 billion in loans, in addition to the $150 billion it has already given the ailing insurer.

Concerns about the struggling financial sector and the weakening economy have sent stocks to their lowest levels in 12 years. The Dow Jones industrial average has dropped for six consecutive months, and is worth less than half of its October 2007 record high of 14,164.53.

Billionaire Warren Buffett, in his highly anticipated annual letter to investors Saturday, said his insurance and investment company, Berkshire Hathaway Inc., had its worst year ever in 2008. The grim news came a day after the government said gross domestic product for the fourth quarter shrank at an annual rate of 6.2 percent.

Buffett said he is sure "the economy will be in shambles throughout 2009 -- and, for that matter, probably well beyond -- but that conclusion does not tell us whether the stock market will rise or fall."

Ahead of the market's open, Dow futures tumbled 152, or 2.16 percent, to 6,900. Standard & Poor's 500 index futures sank 14.60, or 1.99 percent, to 719.60, while Nasdaq 100 index futures lost 21.25, or 1.90 percent, to 1,095.75.

Later Monday morning, the Commerce Department will release its January personal income and spending report and its January construction spending report.

The Institute for Supply Management will also releases its manufacturing index for February.

Bond prices rose early Monday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.96 percent from 3.02 percent late Friday. The yield on the three-month T-bill, considered one of the safest investments, was little changed at 0.26 percent.

The dollar was mostly higher against other major currencies, while gold prices fell.

Light, sweet crude fell $4.18 to $42.58 in electronic premarket trading on the New York Mercantile Exchange.

In Asian trading, Japan's Nikkei stock average dropped 3.81 percent and Hong Kong's Hang Seng index fell 3.81 percent. In late morning trading in Europe, Britain's FTSE 100 fell 3.96 percent, Germany's DAX index fell 2.74 percent, and France's CAC-40 fell 3.31 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors' despair about financial companies and the recession has brought the Dow Jones industrial average to another unwanted milestone: its first drop below 7,000 in more than 11 years. The market's slide Monday, which took the Dow down 300 points, was nowhere near the largest it has seen since last fall, but the tumble below 7,000 was nonetheless painful.

The credit crisis and recession have slashed more than half the average's value since it hit a record high over 14,000 in October 2007. And now many investors fear the market could take a long time to regain the lost 7,000.

"As bad as things are, they can still get worse, and get a lot worse," said Bill Strazzullo, chief market strategist for Bell Curve Trading. Strazzullo said he believes there's a significant chance the S&P 500 and the Dow will fall back to their 1995 levels of 500 and 5,000, respectively.

*The NYSE DOW closed LOWER -299.64 points 	-4.24% on Monday March 2*
Sym Last........ ........Change..........
Dow	6,763.29	-299.64	-4.24%
Nasdaq	1,322.85	-54.99	-3.99%
S&P 500	700.82	-34.27	-4.66%
30-yr Bond	3.6490%	-0.0730

NYSE Volume	8,902,261,000
Nasdaq Volume	2,369,507,000


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,625.83	-204.26	-5.33%
DAX	3,710.07	-133.67	-3.48%
CAC 40	2,581.46	-121.02	-4.48%


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,280.15	-288.27	-3.81%
Hang Seng	12,321.04	-490.53	-3.83%
Straits Times	1,543.78	-51.09	-3.20%

http://finance.yahoo.com/news/Dow-drops-below-7000-for-apf-14518833.html
*Dow drops below 7,000 for first time since 1997

Dow breaks 7,000 for first time since '97 as AIG gets more gov't funding, posts $61.7B loss*

    * Tim Paradis, AP Business Writer
    * Monday March 2, 2009, 5:30 pm EST

NEW YORK (AP) -- Investors' despair about financial companies and the recession has brought the Dow Jones industrial average to another unwanted milestone: its first drop below 7,000 in more than 11 years. The market's slide Monday, which took the Dow down 300 points, was nowhere near the largest it has seen since last fall, but the tumble below 7,000 was nonetheless painful.

The credit crisis and recession have slashed more than half the average's value since it hit a record high over 14,000 in October 2007. And now many investors fear the market could take a long time to regain the lost 7,000.

"As bad as things are, they can still get worse, and get a lot worse," said Bill Strazzullo, chief market strategist for Bell Curve Trading. Strazzullo said he believes there's a significant chance the S&P 500 and the Dow will fall back to their 1995 levels of 500 and 5,000, respectively.

The "game-changer," he said, will be the housing market and whether it can stabilize.

A recovery will also require signs of health among financial companies, but so far in 2009, it is clear that banks and insurance companies' losses are multiplying despite hundreds of billions of dollars in government help. The market fell Monday after insurer American International Group Inc. posted a staggering $61.7 billion in quarterly losses and as the government agreed to inject more money into the company. AIG will get another $30 billion in loans, on top of the $150 billion the government has already invested.

And it's not just U.S. companies that have Wall Street frightened. HSBC PLC, Europe's largest bank by market value, said Monday it needs to raise $17.7 billion. The company reported a 70 percent drop in 2008 earnings and said it would cut 6,100 jobs.

While the root of financial firms' problems lie with the bad bets they made on mortgages and mortgage-backed securities, now the recession is exacerbating their problems as it also forces millions of job cuts.

"The economy definitely has deteriorated since November," said Sean Simko, head of fixed income management at SEI Investments. "It's just the fact that we haven't seen signs of improving or stabilizing, per se, which is adding to the morass of the market."

According to preliminary calculations, the Dow fell 299.64, or 4.24 percent, to 6,763.29. The Dow last closed below 7,000 on May 1, 1997 and hadn't finished at this level since April 25, 1997.

The Dow's descent has been swift. It took only 14 sessions for the average to go from above 8,000 to below 7,000. So far this year, the Dow is down 22.9 percent.

Broader stock indicators also slid. The Standard & Poor's 500 index fell 34.27, or 4.7 percent, to 700.82. The index briefly traded below the 700 mark in the final minutes of the session. S&P 500 index hadn't traded below 700 since Oct. 29, 1996. It hasn't closed below that level since the previous day, Oct. 28.

The Nasdaq composite index fell 54.99, or 4 percent, to 1,322.85.

The Russell 2000 index of smaller companies fell 21.22, or 5.5 percent, to 367.80.

The Dow Jones Wilshire 5000 index, which reflects nearly all stocks traded in America, is down 55 percent since its peak in October 2007. That's a paper loss of $10.9 trillion.

About 16 stocks fell for every one that rose on the New York Stock Exchange, where volume came to a heavy 1.80 billion shares.

Bond prices jumped as stocks fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, tumbled to 2.88 percent from 3.02 percent late Friday. The yield on the three-month T-bill, considered one of the safest investments, slipped to 0.24 percent from 0.25 percent Friday.

Oil prices fell more than 10 percent to $40.15 a barrel Monday as investors worried that a weak economy will hurt demand.

The economic data have been mostly grim, adding momentum to the market's slide. Even when the readings show some room for optimism many investors have been quick to write them off as aberrations. On Monday, the government said personal spending incomes rose more than expected in January but that construction spending fell twice as much as forecast. A trade group said manufacturing contracted in February for the 13th straight month, but at a slower pace than expected.

More, and possibly unnerving, economic data are expected later in the week, including the government's report on unemployment and job losses during February.

"I don't think we find a bottom in the market until we see some sort of increased level of optimism and confidence among consumers and investors," said Jim Baird, chief investment strategist at Plante Moran Financial Advisors.

One measure of unease in the market has been rising after coming down from the fall. The Chicago Board Options Exchange Volatility Index, or the VIX, is just below 53. Ordinarily what's known as Wall Street's fear gauge might be in the 20s and 30s but it had near 90 in October.

Dan Deming, a trader with Strutland Equities, said the VIX indicates investors expect more volatility. He said more investors are resigning themselves to the fact that stocks will continue to push lower.

"The expectation is we're going to go lower," he said.

Market historians would be quick to note, however, that market bottoms often come just as most investors are prepared to give up in disgust or fear.

For investors, that will take several months of economic and corporate reports that point to signs of a turnaround in housing and job losses and signs that the economy is at least leveling off. Analysts are looking for indications that businesses and consumers are starting to boost spending after months of cutting back.

But the economic readings, and the news coming out of financial companies, are still so alarming that investors feel no alternative but to sell.

"I don't think we find a bottom in the market until we see some sort of increased level of optimism and confidence among consumers and investors," said Baird.

And even when the market finally reaches a bottom, it faces a long, long recovery.

"We do feel that things can improve but it is going to be years before we get back to levels we saw in the markets a year ago," said David Chalupnik, head of equities at First American Funds.

Last week, the Dow and the S&P 500 index fell below their Nov. 20-21 lows, reached at the height of the credit crisis. Many traders had hoped would mark the market's low. The Nasdaq remains 2 percent above its Nov. 21 low.

Even big name investors are cautious. Billionaire investor Warren Buffett wrote in his annual letter to investors Saturday he is sure "the economy will be in shambles throughout 2009 -- and, for that matter, probably well beyond -- but that conclusion does not tell us whether the stock market will rise or fall."

Many market analysts look to Wall Street's performance in past bear periods to try to determine when stocks will hit bottom. In the last 60 years, the S&P 500 index bottomed about five months before a recession ended and nine months before corporate profits reached their low or unemployment hit its peak.

The market could recover before the economy starts picking up steam but investors will need some sense that the worst is over -- and that was hard to come by Monday.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors bruised by Wall Street's latest rout found little reason to pile back into the market.

Stocks extended their losses in an erratic session Tuesday as investors wrestled with the reality that the economy is still far from a recovery. The pessimism that has dominated the markets for months stifled some tentative bargain hunting and in the process unraveled several attempts at a rally.

The selling pushed the Standard & Poor's 500 index to its first close below 700 since Oct. 28, 1996. But the losses were modest compared with Monday, when the Dow Jones industrial average tumbled 300 points and both the Dow and the S&P 500 index registered their lowest finishes in more than a decade.

*The NYSE DOW closed LOWER -37.27 points	-0.55% on Tuedday March 3*
Sym Last........ ........Change..........
Dow	6,726.02	-37.27	-0.55%
Nasdaq	1,321.01	-1.84	-0.14%
S&P 500	696.33	-4.49	-0.64%
30-yr Bond	3.6760%	+0.0270

NYSE Volume	8,561,144,000
Nasdaq Volume	2,447,019,000


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,512.09	-113.74	-3.14%0
DAX	3,690.72	-19.35	-0.52%
CAC 40	2,554.55	-26.91	-1.04%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,229.72	-50.43	-0.69%
Hang Seng	12,033.88	-283.58	-2.30%
Straits Times	1,524.22	-9.18	-0.60%

http://finance.yahoo.com/news/Wall-Street-fluctuates-a-day-apf-14529116.html

*Wall Street shows modest losses a day after tumble

Stocks end mostly lower after sell-off; Bernanke says recovery depends on propping up markets*

    * Tim Paradis, AP Business Writer
    * Tuesday March 3, 2009, 4:55 pm EST

NEW YORK (AP) -- Investors bruised by Wall Street's latest rout found little reason to pile back into the market.

Stocks extended their losses in an erratic session Tuesday as investors wrestled with the reality that the economy is still far from a recovery. The pessimism that has dominated the markets for months stifled some tentative bargain hunting and in the process unraveled several attempts at a rally.

The selling pushed the Standard & Poor's 500 index to its first close below 700 since Oct. 28, 1996. But the losses were modest compared with Monday, when the Dow Jones industrial average tumbled 300 points and both the Dow and the S&P 500 index registered their lowest finishes in more than a decade.

Tuesday's fluctuations came as Federal Reserve Chairman Ben Bernanke told Congress an economic recovery depends on the government's ability to stabilize weak financial markets. He said the efforts were needed to avoid "a prolonged episode of economic stagnation."

Investors are still worried the government won't succeed. On Monday, the government injected $30 billion to troubled insurer American International Group Inc., its fourth attempt to stabilize the company since September.

Bernanke's remarks came as the central bank announced it would begin lending up to $200 billion in an initial move to spur consumer and small business borrowing for autos, education, credit cards and other expenses. The Fed first announced the plan late last year.

That offered some support to the market and helped curb selling, traders said.

"I think people are just finally happy to see that it's here and that it's going to begin," said Joe Saluzzi, co-head of equity trading at Themis Trading LLC. "Normally Wall Street will buy the rumor and sell on the news but I think this is kind of the opposite effect."

According to preliminary calculations, the Dow fell 37.27, or 0.6 percent, to 6,726.02. The index is now down more than 52 percent from its record of 14,164.53 set in October 2007.

Broader stock indicators also fell. The S&P 500 index slid 4.49, or 0.6 percent, to 696.33.

The Nasdaq composite index fell 1.84, or 0.1 percent, to 1,321.01.

The Russell 2000 index of smaller companies fell 6.79, or 1.9 percent, to 361.01.

Two stocks fell for every one that rose on the New York Stock Exchange, where volume came to a moderate 1.9 billion shares.

Saluzzi said a rise prices of commodities like oil led to some speculation that global demand for raw materials could soon increase.

Light, sweet crude rose $1.50 to settle at $41.65 a barrel on the New York Mercantile Exchange. May copper futures rose 8.85 cents to $1.6045 a pound, the highest close since Feb. 9.

Investors showed little reaction to testimony from Treasury Secretary Timothy Geithner, who told the House Ways and Means Committee the added spending in the Obama administration's budget is necessary because the previous administration was unwilling to make long-term investments in health care, energy and education.

President Barack Obama on Tuesday likened the stock market to the daily tracking polls used during campaigns. He said tracking Wall Street's "fits and starts" too closely could lead to bad long-term policy.

Many investors remain fearful of buying into a market that has dashed investors' hopes that it had hit bottom. Last week, the Dow and the S&P 500 index fell through their November lows and, with their continuing pullback, are touching off fears that a new torrent of selling would take place.

Brian Reynolds, chief market strategist at New York-based WJB Capital Group, said the stock market's slide means it could be ripe for a bounce but that a lasting recovery won't come until credit market investors begin to put money into riskier debt that is now out of favor. Investors have been buying the safest types of debt, like government bonds, in favor of mortgage and credit card debt and some corporate debt.

"It's just another continuation of what we've seen for the last year and a half. If you compare the valuation in stocks to the valuation in credit, there is a huge disparity there," Reynolds said.

He contends the S&P 500 index, which is down 22.9 percent in 2009, will continue to fall until it hits the 600 level. That would be a loss of another 13.8 percent.

Investors are also beginning to look toward the Labor Department's February employment report, which is set for Friday. The monthly employment figures are one of the most important economic barometers because rising unemployment cuts into how much consumers spend. Consumer spending accounts for more than two-thirds of U.S. economic activity.

Government bonds were mixed Tuesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.89 percent from 2.87 percent late Monday. The yield on the three-month T-bill, considered one of the safest investments, slipped to 0.26 percent from 0.27 percent from Monday.

The dollar was mostly lower against other major currencies, while gold prices fell.

Overseas, Britain's FTSE 100 fell 3.14 percent, Germany's DAX index rose 0.52 percent, and France's CAC-40 fell 1.04 percent. Japan's Nikkei stock average slipped 0.69 percent.


----------



## bigdog

DOW could be much better in the morning


*Europe --- midday UK time*
Symbol... Last...... .....Change.......
FTSE 100	3,570.19	+58.10	+1.65%
DAX	3,782.85	+92.13	+2.50%
CAC 40	2,604.66	+50.11	+1.96%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,290.96	+61.24	+0.85%
Hang Seng	12,331.15	+297.27	+2.47%
Straits Times	1,544.34	+15.83	+1.04%


http://finance.yahoo.com/news/World-stocks-rebound-on-China-apf-14537578.html

*World stocks rebound on China stimulus hopes

World stock markets rebound on Chinese stimulus hopes, Shanghai leads recovery*

    * Pan Pylas, AP Business Writer
    * Wednesday March 4, 2009, 6:43 am EST

LONDON (AP) -- Stock markets in Europe and Asia rebounded Wednesday amid mounting hopes that China will soon announce a big stimulus package that could help limit the length and depth of the recession in the industrialized world.

A legislative meeting starts Thursday in China and top of the agenda is what the government can do to lift growth rates, which have fallen in the wake of the global economic downturn. As one of the few major economies still expanding, China is being closely watched amid hopes its demand and trade can help the world weather the most severe global slowdown in decades.

*Chinese shares led Wednesday's advance, with Shanghai's index jumping more than 6 percent to close at 2,198.11.*

"Obviously, this unusual rally suggests that investors are overly optimistic about what to expect from the legislature. They think the government will do more to boost spending to stimulate the economy," said Peng Yunliang, an analyst with Shanghai Securities in Shanghai.

Elsewhere in Asia, Japan's Nikkei 225 stock average was up 61.24 points, or 0.9 percent, to 7,290.96, while Hong Kong's Hang Seng added 297.27, or 2.5 percent, to 12,331.15. South Korea's Kospi climbed 3.3 percent to 1,059.26.

Markets in Singapore, Taiwan and New Zealand also gained. Australia's index shed 1.6 percent.

In Europe, the FTSE 100 index of leading British shares recovered from six-year lows to rise 66.42 points, or 1.9 percent, to 3,578.51, while Germany's DAX was up 99.38 points, or 2.7 percent, at 3,790.10. The CAC-40 in France was 54.05 points, or 2.1 percent, higher at 2,608.60.

U.S. futures pointed to a higher open for Wall Street on Wednesday. Dow futures rose 119, or 1.8 percent, to 6,788 and the broader Standard & Poor's 500 futures gained 14.3, or 2.1 percent, to 704. After a choppy session, the Dow closed Tuesday at 6,726.02, its lowest close since April 1997, while the S&P closed at 696.33, 52 percent below its peak of October 2007.

Despite Wednesday's rebound around the world, the markets remain in a jittery mood ahead of Thursday's interest rate decisions from the European Central Bank and the Bank of England and Friday's closely-watched U.S. jobs report for February.

"The mood in equity markets is still bleak but we need to be aware that sentiment-emotion is looking rather extreme, not that fundamentals look in any way supportive," said Neil Mackinnon, chief economist at ECU Group.

Sentiment around the world was ravaged this week with the news that American International Group Inc. posted the biggest quarterly loss in corporate history, and HSBC Holdings PLC slashed its dividend and revealed it needed to raise nearly $18 billion from shareholders. And the warning from Ben Bernanke, the U.S. Federal Reserve chairman, that U.S. banks may need more government cash injections to stay afloat did not help matters either.

Oil prices rose, with benchmark crude for April delivery up $1.62 to $43.27 a barrel on the New York Mercantile Exchange. The contract added $1.50 to settle at $41.65 overnight.

In currencies, the dollar fell rose 1.4 percent to 99.35 yen while the euro fell 0.4 percent to $1.2504.

AP Business Writer Jeremiah Marquez in Hong Kong contributed to this report.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The DOW would have been much better except for the last 30 minutes!!!*

Buyers who rushed out of stocks for five straight sessions rushed back in Wednesday on hopes that government medicine will help the world's largest economies halt their slide.

Stocks rallied on word of a possible economic stimulus package in China and an Obama administration plan to help struggling U.S. homeowners. A slightly better-than-expected report on the services sector also helped. All the major indexes jumped more than 2 percent.

The advance followed five straight sessions of unrelenting selling that left major indexes at levels not seen in more than a decade.

*The NYSE DOW closed LOWER -37.27 points -0.55% on Wednesday March 4*
Sym Last........ ........Change..........
Dow	6,875.84	+149.82	+2.23%
Nasdaq	1,353.74	+32.73	+2.48%
S&P 500	712.87	+16.54	+2.38%
30-yr Bond	3.6980%	+0.0220

NYSE Volume	8,811,623,000
Nasdaq Volume	2,357,338,250


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,645.87	+133.78	+3.81%
DAX	3,890.94	+200.22	+5.42%
CAC 40	2,675.68	+121.13	+4.74%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,290.96	+61.24	+0.85%
Hang Seng	12,331.15	+297.27	+2.47%
Straits Times	1,542.41	+13.90	+0.91%

http://finance.yahoo.com/news/Stocks-jump-after-5-days-of-apf-14545979.html

*Stocks jump after 5 days of heavy selling

Investors return to market after 5 days of selling on Chinese stimulus, plan for homeowners*

    * Sara Lepro, AP Business Writer
    * Wednesday March 4, 2009, 4:46 pm EST

NEW YORK (AP) -- Buyers who rushed out of stocks for five straight sessions rushed back in Wednesday on hopes that government medicine will help the world's largest economies halt their slide.

Stocks rallied on word of a possible economic stimulus package in China and an Obama administration plan to help struggling U.S. homeowners. A slightly better-than-expected report on the services sector also helped. All the major indexes jumped more than 2 percent.

The advance followed five straight sessions of unrelenting selling that left major indexes at levels not seen in more than a decade.

"Virtually everyone was expecting some sort of a bounce, we just didn't know exactly when that would occur," said Randy Frederick, director of trading and derivatives at Charles Schwab. "You can't go down forever."

Wall Street followed the lead of overseas markets, which rallied on optimism over a possible Chinese economic stimulus plan. Prices for oil and other commodities also climbed as traders bet that government spending could boost demand.

Investors were encouraged by details of a government program designed to help as many as 9 million borrowers stay in their homes through refinanced mortgages or loans that are modified to lower monthly payments.

The Institute for Supply Management, a trade group of purchasing executives, said its services index fell to 41.6 last month from 42.9 in January, slightly above Wall Street's estimate of 41. Any reading above 50 signals growth.

According to preliminary calculations, the Dow Jones industrial average rose 149.82, or 2.2 percent, to 6,875.84. The Standard & Poor's 500 index added 16.54, or 2.4 percent, to 712.87, while the Nasdaq composite index gained 32.73, or 2.5 percent, to 1,353.74.

The Russell 2000 index of smaller companies rose 10.29, or 2.9 percent, to 371.30.

Four stocks rose for every one that fell on the New York Stock Exchange, where volume came to a moderate 1.8 billion shares.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors fled Wall Street again, driven by worries about the nation's big banks and General Motors Corp.

Stocks ended at 12-year lows Thursday, more than wiping out the previous day's rally. Investors wrestled with more disheartening economic data, new concerns about GM and relentless uncertainty about the financial system. Short selling ahead of the government's Friday employment report exacerbated the losses, slashing 281 points from the Dow Jones industrials and sending all the major indexes down more than 4 percent.

Stocks fell in every industry, with beleaguered banks posting some of the steepest drops. Citigroup Inc., still shaky despite receiving billions in government aid, at times sank below $1 and finished down 10 percent at $1.02. General Motors, meanwhile, ended with a loss of 15 percent at $1.86 as it warned of possible bankruptcy.

*The NYSE DOW closed LOWER -281.40	 points -4.09% on Thursday March 5*
Sym Last........ ........Change..........
Dow	6,594.44	-281.40	-4.09%
Nasdaq	1,299.59	-54.15	-4.00%
S&P 500	682.55	-30.32	-4.25%
30-yr Bond	3.5050%	-0.1930

NYSE Volume	8,695,992,000
Nasdaq Volume	2,348,808,250


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,529.86	-116.01	-3.18%
DAX	3,695.49	-195.45	-5.02%
CAC 40	2,569.63	-106.05	-3.96%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,433.49	+142.53	+1.95%
Hang Seng	12,211.24	-119.91	-0.97%
Straits Times	1,518.64	-25.70	-1.66%

http://finance.yahoo.com/news/Stocks-tumble-as-investors-apf-14559588.html

*Stocks tumble as investors worry about banks, GM

Stocks plunge anew as brief optimism fades amid lack of positive news; Dow falls 281*

    * Sara Lepro and Tim Paradis, AP Business Writers
    * Thursday March 5, 2009, 5:14 pm EST

 NEW YORK (AP) -- Investors fled Wall Street again, driven by worries about the nation's big banks and General Motors Corp.

Stocks ended at 12-year lows Thursday, more than wiping out the previous day's rally. Investors wrestled with more disheartening economic data, new concerns about GM and relentless uncertainty about the financial system. Short selling ahead of the government's Friday employment report exacerbated the losses, slashing 281 points from the Dow Jones industrials and sending all the major indexes down more than 4 percent.

Stocks fell in every industry, with beleaguered banks posting some of the steepest drops. Citigroup Inc., still shaky despite receiving billions in government aid, at times sank below $1 and finished down 10 percent at $1.02. General Motors, meanwhile, ended with a loss of 15 percent at $1.86 as it warned of possible bankruptcy.

"Citigroup going below a buck today was a little scary," said Mark LeStrange, director of sales at Source Trading.

"To say that we're cheap here and it's a good value, it sounds right, but in all reality we could go 50 percent lower," he said. "Nobody has any idea how low we can go."

The Standard & Poor's 500 index is now down 56.4 percent from its peak in October 2007, making it the second worst slide for the index since its fall of 86.2 percent from 1929-32.

The latest torrent of selling came ahead of the February Labor Department report that is likely to show hundreds of thousands of jobs were lost. Even some positive news, including some better-than-expected retail sales and factory orders, was not enough to stoke investor confidence.

The reports failed to show a significant improvement and so the market gave back a big gain from Wednesday, said Doreen Mogavero, president of brokerage Mogavero, Lee & Co.

"The economic data is still obviously a huge worry," she said.

Short sellers also dragged on the market, analysts said. Short sellers place bets that a stock will fall, and risng short positions on a stock can intensify its decline.

"Just go out kill them. It's the easiest way to go out and make a buck," said Stephen A. Lieber, chief investment officer at Alpine Woods Capital Investors LLC in Purchase, N.Y., referring to short sellers.

The Dow fell 281.40, or 4.1 percent, to 6,594.44, its lowest close since April 1997.

Broader indicators also tumbled. The S&P 500 index dropped 32.95, or 4.6 percent, to 679.92, its lowest close since September 1996. The Nasdaq composite index fell 52.30, or 3.9 percent, to 1,301.44.

The Russell 2000 index of smaller companies fell 21.49, or 5.8 percent, to 349.77.

On the New York Stock Exchange, only 235 stocks advanced while 2,887 fell. Volume came to a heavy 1.89 billion shares.

Robert Pavlik, chief market strategist at Banyan Partners LLC in New York, agreed that short selling is driving the market and that the drubbing is keeping away investors who would be attracted by beaten down stocks.

"Long-term investors would really step in if prices got too low or oversold and begin to do some bargain hunting. But with all the uncertainty that has been created, long-term investors are not stepping in," he said. "What incentive do long-term investors have stepping? Traders rule the roost."

Stocks fell initially after China deflated investors' hope that it would take new steps to stimulate its economy, but the discouraging economic data sent stocks even lower. The hope that China would unveil more government spending to help its economy was a major factor behind the market's bounce Wednesday, which sent the Dow Jones industrials up nearly 150 points after a five-day slide.

"It's been this continuous (cycle of) hope leads to disappointment," said Todd Salamone, senior vice president of research, Schaeffer's Investment Research in Cincinnati.

Since the Dow and the S&P 500 index plowed through their November lows last week, dashing hopes that the market had indeed hit a bottom, investors have been left wondering how much more the market can fall. At the same time, there is a contingent of investors with a "why sell now" mentality who are fearful of missing the next rally, Salamone said.

"A lot of people are banking we can't go much further, but if you look to the '30s, we could indeed go a lot lower," he said, referring to Wall Street's huge losses during the Great Depression..

Discouraged by little evidence that Washington's efforts to stabilize the economy are working, investors have lost faith in the administration, he said.

"At this point, you've got to be asking will anything help?" Salamone said. "The fact could very well be that the government can't do very much."

Among Thursday's gloomy reports, the Commerce Department said orders for manufactured goods fell by 1.9 percent during the first month of the year. While this was better than the 3.5 percent drop economists had expected, it marked a record sixth straight month of declines.

Data showing that initial unemployment claims fell more than anticipated last week failed to buoy stocks. Economists surveyed by Thomson Reuters/IFR predict the Labor Department will report that U.S. employers slashed 648,000 jobs in February -- more than the 598,000 cut in January.

Rising unemployment is of particular concern because it means many consumers have less to spend. And consumer spending, which accounts for more than two-thirds of U.S. economic activity, is crucial to helping the economy turn around. A handful of better-than-expected retail sales reports, including one from Wal-Mart Stores Inc., weren't enough to convince investors that consumer spending is improving.

The future of General Motors also plagued investors. The automaker said in its annual report that auditors raised serious doubt about its ability to continue operating. GM has already received $13.4 billion in federal loans, and is seeking a total of $30 billion from the government. GM dove 349 cents, or 15.5 percent, to $1.86.

Negative comments from Moody's Investors Service weighed on already depressed financial stocks. Concerns about capital levels led the ratings agency to downgrade the ratings of Bank of America Corp. and Wells Fargo & Co. Moody's also lowered the outlook on JPMorgan Chase & Co.'s ratings to negative. Bank of America shares dropped 42 cents, or 11.7 percent, to $3.17; Wells Fargo plunged $1.54, or 15.9 percent, to $8.12; JPMorgan tumbled $2.70, or 14 percent, to $16.60.

Government bond prices rose as investors sought a safe haven. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.82 percent from 2.98 percent late Wednesday. The yield on the three-month T-bill, considered one of the safest investments, slipped to 0.18 percent from 0.25 percent Wednesday.

Gold prices advanced, even as the dollar rose against other major currencies.

Light, sweet crude fell $1.77 to settle at $43.61 a barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 fell 3.2 percent, Germany's DAX index dropped 5 percent, and France's CAC-40 fell 4 percent. Earlier, Japan's Nikkei stock average rose 2 percent after Wall Street's Wednesday rally, but Hong Kong's Hang Seng index fell 1 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Still, the major indexes remain down sharply for the week and near 12-year lows. The Dow Jones industrial average is down 6.2 percent for the week, and the Standard & Poor's 500 index is down 7 percent. Both have fallen more than 24 percent since the start of 2009.

The Nasdaq is down 6.1 percent for the week, and at a six-year low.

Investors have gotten used to bad news, but layoffs topping 600,000 a month still made for a volatile day on Wall Street.

Stocks soared, sank and then clawed their way back to a mixed close Friday after the Labor Department released its February jobs report.

Employers cut 651,000 jobs last month, and the unemployment rate jumped to 8.1 percent. The government also revised its December and January job loss figures up to 681,000 and 655,000, respectively. Many market participants had been bracing for even worse readings.

*The NYSE DOW closed HIGHER +32.50	points +0.49% on Friday March 6*
Sym Last........ ........Change..........
Dow	6,626.94	+32.50	+0.49%
Nasdaq	1,293.85	-5.74	-0.44%
S&P 500	683.38	+0.83	+0.12%
30-yr Bond	3.5030%	-0.0020

NYSE Volume	8,508,441,000
Nasdaq Volume	2,504,320,750


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,530.73	+0.87	+0.02%
DAX	3,666.41	-29.08	-0.79%
CAC 40	2,534.45	-35.18	-1.37%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,173.10	-260.39	-3.50%
Hang Seng	11,921.52	-289.72	-2.37%
Straits Times	1,513.12	-5.52	-0.36%

http://finance.yahoo.com/news/Stocks-end-mixed-after-apf-14571058.html

*Stocks end mixed after February jobs data

Stocks finish mixed, recovering from steep losses after February jobs data*

    * Madlen Read, AP Business Writer
    * Friday March 6, 2009, 4:50 pm EST

NEW YORK (AP) -- Investors have gotten used to bad news, but layoffs topping 600,000 a month still made for a volatile day on Wall Street.

Stocks soared, sank and then clawed their way back to a mixed close Friday after the Labor Department released its February jobs report.

Employers cut 651,000 jobs last month, and the unemployment rate jumped to 8.1 percent. The government also revised its December and January job loss figures up to 681,000 and 655,000, respectively. Many market participants had been bracing for even worse readings.

Still, the major indexes remain down sharply for the week and near 12-year lows. The Dow Jones industrial average is down 6.2 percent for the week, and the Standard & Poor's 500 index is down 7 percent. Both have fallen more than 24 percent since the start of 2009.

And many market watchers say there's no reason stocks can't slide further.

"My sense is we haven't discounted all the negatives out there as of yet," said Rob Lutts, president of Cabot Money Management.

Big institutional investors are still largely waiting for positive signs from the economy before making any major commitments. As a result, the market is largely being driven by "short" traders, who sell borrowed stock and then buy it back later in hopes that the price will decline in the meantime. That makes for a choppy, unpredictable market.

"The shorts are having a complete field day in this environment," said Kent Engelke, managing director at Capital Securities Management in Glen Allen, Va. "Right now you have everybody so fearful, and these shorts are controlling the market."

According to preliminary calculations, the Dow rose 32.50, or 0.5 percent, to 6,626.94. The S&P 500 index rose 0.83, or 0.12 percent, to 683.38, while the Nasdaq composite index fell 5.74, or 0.44 percent, to 1,293.85.

The Nasdaq is down 6.1 percent for the week, and at a six-year low.

Three stocks fell for every two that rose on the New York Stock Exchange. Volume came to 1.77 billion shares.

With uncertainty about the economy and financial system keeping the bulk of investors on the sidelines, even small advances have been difficult to maintain.

"When you get this precipitous of a fall, you are always due for some sort of rally, but a rally will be unsustainable," said Jeff Buetow, senior portfolio manager at Portfolio Management Consultants.

And the market, analysts say, needs more clarity about the troubled financial sector before buyers come back into the market with any force. Until then, Engelke said, a sustainable advance is impossible.

"You can't have a healthy economy without a healthy banking system," he said.

Banks continued to slash their dividends in anticipation of more loan losses this year.

Wells Fargo & Co. on Friday cut its dividend to 5 cents a share from 35 cents, following last week's move by JPMorgan Chase & Co. to reduce its dividend to 5 cents as well. Citigroup and Bank of America Corp. had already slashed their quarterly dividends to a penny per share.

Wells Fargo shares rebounded Friday by 18 cents, or 2.2 percent, to $8.30. Citigroup, which fell below $1 a share for the first time Thursday, rebounded by a penny to close at $1.03.

But most other financial stocks slumped. JPMorgan dropped 67 cents, or 4 percent, to $15.93, Bank of America slipped 3 cents to $3.14, Goldman Sachs Group Inc. fell $6.07, or 7.4 percent, to $75.65 and Morgan Stanley fell 80 cents, or 4.5 percent, to $17.18.

GM shares continued their freefall as speculation about the automaker's future swirled. On Friday, members of the Obama administration's auto task force met again with the company's stakeholders.

GM shares dropped 41 cents, or 22 percent, to $1.45.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note rose to 2.88 percent from 2.81 percent late Thursday. The yield on the three-month T-bill fell was flat at 0.20 percent.

Gold prices rose as the dollar traded mixed against other major currencies.

Light, sweet crude rose $1.91 to settle at $45.52 a barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 rose 0.02 percent, Germany's DAX index fell 0.79 percent, and France's CAC-40 fell 1.37 percent. Earlier, Japan's Nikkei stock average fell 3.50 percent, and Hong Kong's Hang Seng index fell 2.37 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors fixated on the faltering U.S. economy brushed off the type of merger news that normally starts rallies.

Wall Street closed down more than 1 percent Monday as uneasiness about the economy eclipsed a bounce in troubled financial stocks and news of a big drug company merger. Stocks rose in the early going but eventually turned lower in a now familiar pattern where short-lived bursts of optimism give way to concerns about the country's economic woes.

Financial stocks rose on a news report that Bank of America Corp. could raise capital in the private sector. Shares of major banks have been pummeled to multiyear lows amid growing concern that they don't have enough cash to cover future losses despite multiple government rescues.

The NYSE DOW closed LOWER -79.89	-1.21% on Monday March 9
Sym Last........ ........Change..........
Dow	6,547.05	-79.89	-1.21%
Nasdaq	1,268.64	-25.21	-1.95%
S&P 500	676.53	0.00	0.00%
30-yr Bond	3.5930%	0.0000

NYSE Volume	7,410,136,500
Nasdaq Volume	2,085,900,625


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,542.40	+11.67	+0.33%
DAX	3,692.03	+25.62	+0.70%
CAC 40	2,519.29	0.00	0.00%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,086.03	-87.07	-1.21%
Hang Seng	11,344.58	-576.94	-4.84%
Straits Times	1,465.69	-47.43	-3.13%

http://finance.yahoo.com/news/US-stocks-falter-as-investors-apf-14587433.html

*US stocks falter as investors battle uncertainty

US stocks falter as investors battle uncertainty; Dow sheds 79.89 points*

    * Sara Lepro, AP Business Writer
    * Monday March 9, 2009, 5:13 pm EDT

NEW YORK (AP) -- Investors fixated on the faltering U.S. economy brushed off the type of merger news that normally starts rallies.

Wall Street closed down more than 1 percent Monday as uneasiness about the economy eclipsed a bounce in troubled financial stocks and news of a big drug company merger. Stocks rose in the early going but eventually turned lower in a now familiar pattern where short-lived bursts of optimism give way to concerns about the country's economic woes.

Financial stocks rose on a news report that Bank of America Corp. could raise capital in the private sector. Shares of major banks have been pummeled to multiyear lows amid growing concern that they don't have enough cash to cover future losses despite multiple government rescues.

"Any bank right now that can raise money in the private sector, that is a major positive for the market," said Quincy Krosby, chief investment strategist at The Hartford. "It's another way to raise capital rather than the government infusing capital into the banks."

But remarks from billionaire investor Warren Buffett added to an overall downbeat mood. He said during an appearance on CNBC that the economy had "fallen off a cliff" over the past six months. He noted that consumers have changed their habits in remarkable ways.

Investors even wrote off rare dealmaking as moves borne more of necessity than opportunity as drugmakers Merck and Schering-Plough announced plans to combine in a $41 billion deal.

"Any type of news we get, the market is just skeptical," said Jon Biele, head of capital markets at Cowen & Co. "There is nothing in the near term that is going to ratchet us to a different higher level."

The Dow Jones industrial average fell 79.89, or 1.2 percent, to 6,547.05.

The Standard & Poor's 500 index fell 6.85, or 1 percent, to 676.53, while the Nasdaq composite index fell 25.21, or 2 percent, to 1,268.64.

The Russell 2000 index of smaller companies fell 7.79, or 2.2 percent, to 343.26.

About five stocks rose for every two that fell on the New York Stock Exchange, where volume came to 1.56 billion shares.

Both the Dow and the S&P 500 have fallen more than 25 percent this year. The Dow is at its lowest level since the spring of 1997, and the S&P 500 is at its lowest point since the fall of 1996.

The Nasdaq, meanwhile, is at a six-year low.

"There is really not very much for the market to sink its teeth into," said Steve Sachs, director of trading at Rockville, Md.-based Rydex Investments.

Investors were unimpressed with Merck & Co.'s offer for Schering-Plough. Merck has offered Schering-Plough shareholders $10.50 in cash and just over half of one Merck share for each of their shares. The price represents a 34 percent premium to Schering-Plough's closing stock price on Friday. A combination between the two companies had long been speculated.

Merck dropped $1.75, or 7.7 percent, to $20.99, while Schering-Plough rose $2.50, or 14.2 percent, to $20.13.

Genentech rose $1.77, or 2 percent, to $92.63 after The Wall Street Journal reported the company is close to striking a deal for a $95-per-share sale to Switzerland's Roche, the company's cancer drug partner. On Friday, Roche increased its bid to $93 per share, or $45.7 billion, after its $86.50-per-share offer failed to gain shareholder support. The companies have been going back and forth since July, when Genentech rejected a $89-per-share bid as too low.

Among financials, Bank of America jumped 61 cents, or 19.4 percent, to $3.75. Wells Fargo & Co. rose $1.36, or 15.8 percent, to $9.97.

General Electric Co. rose after a spokesman for the conglomerate confirmed that its GE Capital lending arm is selling debt under a federal liquidity program. The company, which often trades in line with financial stocks, rose 35 cents, or 5 percent, to $7.41.

Capital One Financial Corp. became the latest bank to slash its dividend, following JPMorgan Chase & Co., Wells Fargo & Co. and others. The lender said it will reduce its payout by 87 percent to 5 cents to help preserve capital. Capital One rose 42 cents, or 5 percent, to $8.73, after falling to $7.80, a new 52-week low.

Investors also awaited news about the nation's automakers. Members of the Obama administration's auto task force are scheduled to meet with General Motors Corp. and Chrysler LLC executives Monday in the Detroit area and tour their facilities.

The government could recall its $17.4 billion in loans to GM and Chrysler if they fail to sign deals for debt restructuring and other concessions from stakeholders by March 31. GM and Chrysler are seeking $21.6 billion in additional aid to execute turnaround plans submitted last month.

GM rose 23 cents, or 15.9 percent, to $1.68. Chrysler isn't publicly traded.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street has had its best day of the year, storming higher after some good news from Citigroup. Citigroup Inc. says it operated at a profit during the first two months of the year. That energized financial stocks and in turn, the entire stock market. Surprised investors drove the major indexes up more than 5.5 percent to their biggest one-day rally of the year. The Dow Jones industrials shot up nearly 380 points.

However, many analysts are still cautious -- noting that Wall Street has seen many blips higher since the credit crisis and recession began. Word of Citi's performance broke a months-long torrent of bad news from the banking industry but analysts weren't ready to say the stock market was at a turning point and about to barrel higher after a slide that's lasted more than 16 months.

"To have a sustained rally, we have to have a shift in sentiment," said Kurt Karl, chief U.S. economist at Swiss Re. "One day isn't going to make a trend."

*The NYSE DOW closed HIGHER +379.44 points	+5.80% on Tuesday March 10*
Sym Last........ ........Change..........
Dow	6,926.49	+379.44	+5.80%
Nasdaq	1,358.28	+89.64	+7.07%
S&P 500	719.60	+43.07	+6.37%
30-yr Bond	3.7070%	+0.1140

NYSE Volume	9,853,104,000
Nasdaq Volume	2,493,146,500

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,715.23	+172.83	+4.88%
DAX	3,886.98	+194.95	+5.28%
CAC 40	2,663.68	+144.39	+5.73%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,054.98	-31.05	-0.44%
Hang Seng	11,694.05	+349.47	+3.08%
Straits Times	1,485.75	+28.80	+1.98%

http://biz.yahoo.com/ap/090310/wall_street.html

*Dow ends up nearly 380 on Citigroup profit news*
Tuesday March 10, 4:36 pm ET
By Sara Lepro and Tim Paradis, AP Business Writers
*Stocks rally after Citi says operating at profit, Bernanke calls for bank reform*

NEW YORK (AP) -- Wall Street has had its best day of the year, storming higher after some good news from Citigroup. Citigroup Inc. says it operated at a profit during the first two months of the year. That energized financial stocks and in turn, the entire stock market. Surprised investors drove the major indexes up more than 5.5 percent to their biggest one-day rally of the year. The Dow Jones industrials shot up nearly 380 points.

However, many analysts are still cautious -- noting that Wall Street has seen many blips higher since the credit crisis and recession began. Word of Citi's performance broke a months-long torrent of bad news from the banking industry but analysts weren't ready to say the stock market was at a turning point and about to barrel higher after a slide that's lasted more than 16 months.

"To have a sustained rally, we have to have a shift in sentiment," said Kurt Karl, chief U.S. economist at Swiss Re. "One day isn't going to make a trend."

Still, the Citigroup news offered investors some hope that the first quarter will show signs of improvement.

In a letter to employees Monday, Citi Chief Executive Vikram Pandit said the performance this year has been the bank's best since the third quarter of 2007 -- the last time it booked a profit for a full quarter. Based on historical revenue and expense rates, Citi's projected earnings before taxes and one-time charges would be about $8.3 billion for the full quarter.

Pandit declined to say how large credit losses and other one-time items have been that would at least partially offset profit.

Citi surged 38 percent while Bank of America Corp. jumped 27.7 percent. The stocks are among the 30 that make up the Dow. All the components of the index climbed Tuesday.

Financial stocks have been at the center of the market collapse that has left the major indexes at their lowest point in more than a decade. Reports of losses on bad loans and write-offs on shrinking assets have pounded banking stocks; Citi fell below $1 a share last week. Analysts have been worrying that hundreds of billions of dollars in government bailouts wouldn't be enough to save the big banks.

Investors welcomed Tuesday's rally as overdue after weeks of selling but analysts were quick to warn that it could be little more than a one-day pop. Ben Halliburton, chief investment officer of Tradition Capital Management in Summit, N.J., dismissed the surge as likely little more than a bear market rally that quickly evaporates.

A bear market is defined as a drop of 20 percent from a market peak -- and stocks passed that point last year and continued to plunge, leaving the Dow and Standard & Poor's 500 at less than half the record highs they reached in October 2007. A bear market rally lifts stocks off their lows, but it quickly evaporates.

Wall Street has already seen a few false starts. From late November until the start of this year, the Dow and the S&P 500 jumped about 20 percent before plumbing fresh lows this month. The slide has been punishing but it is still well short of the plunge seen in stocks from 1929-32.

"I would be surprised to see us trade back over 800 in the near term," Halliburton said, referring to the S&P 500. "The news coming out on the economic front will continue to be rather gloomy."

Analysts suggested that the market's gains, especially among financial stocks, could be attributed in part to short covering, an investment strategy that tends to drive rallies in volatile markets. Short-sellers are traders who sell borrowed stock and then buy it back later on the hopes that the price will have fallen. If they believe a stock will be going up, they have to "cover" their positions, or buy shares to repay the loan and limit their losses.

Reports surfaced Tuesday that federal regulators are considering a proposal to reinstate the uptick rule, which backers say helps protect companies from excessive shorting. It was allowed to expire in 2007.

According to preliminary calculations, the Dow jumped 379.44, or 5.8 percent, to 6,926.49. Dow stocks with the biggest gains included General Electric Co., which jumped $1.46, or 19.7 percent, to $8.87. GE has a big financial services division, so it tends to move with banking stocks.

The S&P 500 index rose 43.07, or 6.4 percent, to 719.60, while the Nasdaq composite rose 89.64, or 7.1 percent, to 1,358.28.

The Russell 2000 index of smaller companies rose 24.49, or 7.1 percent, to 367.75.

About 13 stocks rose for every one that fell on the New York Stock Exchange, where volume came to a heavy 2.19 billion shares.


----------



## bigdog

http://biz.yahoo.com/ap/090311/wall_street.html

Overseas, Japan's Nikkei stock average jumped 4.55 percent and Hong Kong's Hang Seng rose 2.02 percent. In late morning trading, Britain's FTSE 100 was up 0.10 percent, Germany's DAX index was up 1.56 percent, and France's CAC-40 was up 1.38 percent.

*Wall Street looks to extend big gains*
Wednesday March 11, 7:49 am ET
By Sara Lepro, AP Business Writer
*Stock futures point higher as Wall Street looks to extend big gains*

NEW YORK (AP) -- Wall Street appeared ready Wednesday to extend its big rally into a second day.

Stock index futures pointed sharply higher after markets around the world followed the lead of U.S. investors who bought stocks furiously Tuesday on news that Citigroup Inc. was operating at a profit.

However, analysts were still very cautious, noting that it's common for the stock market to blip up after a prolonged period of selling. They also noted that investors are well aware of the many problems facing the economy.

There is little economic and corporate news expected Wednesday. Investors are likely to keep a close watch on financial stocks, especially as they await details on the government's plan for dealing with banks' toxic assets. Treasury Secretary Timothy Geithner said Tuesday that the Obama administration will unveil the plan within the next couple of weeks.

During an interview on "The Charlie Rose Show," Geithner said the plan the administration has put together will provide financing to private investors who are willing to buy banks' bad assets. He predicted the plan will succeed but will take time to work.

Financial stocks led Tuesday's rally, which saw the Dow Jones industrials surge nearly 380 points. Word of Citigroup's improved performance was a welcome reprieve from the flood of bad news that has slammed bank stocks and the broader market for months. And it provided investors with a boost of optimism that the first quarter might not be as bad as expected.

But Tuesday's rally was also fed by short covering, which occurs when investors need to buy stock to replace shares that were borrowed and then sold on expectations of a market decline.

Ahead of the market's open, Dow Jones industrial average futures rose 68, or 1 percent, to 6,955. Standard & Poor's 500 index futures added 10.40, or 1.5 percent, to 726.40, while Nasdaq 100 index futures rose 13.75, or 1.2 percent, to 1,119.75.

In corporate news Wednesday, Staples Inc. said its fiscal fourth-quarter profit dropped 14 percent amid a number of charges related to an acquisition. However, the office products retailer reported a 16 percent jump in sales. In premarket trading, shares slipped 74 cents to $15.

Financial shares pointed higher ahead of the market's open. Citigroup added 20 cents to $1.65, while Bank of America Corp. added 34 cents to $5.13.

Bond prices were mixed early Wednesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was unchanged from late Tuesday at 3 percent. The yield on the three-month T-bill, considered one of the safest investments, slipped to 0.23 percent from 0.24 percent late Tuesday.

The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude fell 65 cents to $45.06 a barrel in electronic premarket trading on the New York Mercantile Exchange.

Overseas, Japan's Nikkei stock average jumped 4.55 percent and Hong Kong's Hang Seng rose 2.02 percent. In late morning trading, Britain's FTSE 100 was up 0.10 percent, Germany's DAX index was up 1.56 percent, and France's CAC-40 was up 1.38 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*Investors have been clamoring for months for a bit of good news. On Thursday, they got a load of it.

The Dow Jones industrials shot up 240 points to a two-week high of 7,170, bringing its gains over the past three days to 622 points, or 9.5 percent. It was the index's biggest three-day jump since last November.

Surprisingly positive signals this week from companies across all industries, particularly banks, have made traders think twice about continuing to drive stocks lower. It's too soon to tell whether this week's upturn is the beginning of a bull market or simply a temporary rally within a bear market, but either way there has been a pronounced change in Wall Street's tone.*


*The NYSE DOW closed HIGHER +239.66 points	+3.46% on Thursday March 12*
Sym Last........ ........Change..........
Dow	7,170.06	+239.66	+3.46%
Nasdaq	1,426.10	+54.46	+3.97%
S&P 500	750.74	+29.38	+4.07%
30-yr Bond	3.6350%	-0.0220

NYSE Volume	8,468,943,000
Nasdaq Volume	2,546,697,000

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,712.06	+18.25	+0.49%
DAX	3,956.22	+42.12	+1.08%
CAC 40	2,694.25	+20.05	+0.75%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,198.25	-177.87	-2.41%
Hang Seng	12,001.53	+70.87	+0.59%
Straits Times	1,493.53	-11.98	-0.80%

http://biz.yahoo.com/ap/090312/wall_street.html
*Stocks rally on good news for banks, GM, retailers*
Thursday March 12, 6:27 pm ET
By Madlen Read, AP Business Writer
*Wall Street rallies after a day of good news; Dow logs biggest 3-day gain since November*

NEW YORK (AP) -- Investors have been clamoring for months for a bit of good news. On Thursday, they got a load of it.

The Dow Jones industrials shot up 240 points to a two-week high of 7,170, bringing its gains over the past three days to 622 points, or 9.5 percent. It was the index's biggest three-day jump since last November.

Surprisingly positive signals this week from companies across all industries, particularly banks, have made traders think twice about continuing to drive stocks lower. It's too soon to tell whether this week's upturn is the beginning of a bull market or simply a temporary rally within a bear market, but either way there has been a pronounced change in Wall Street's tone.

"How all this turned around in a week, I don't know," said Scott Bleier, president of CreateCapital Advisors. "But it's certainly a better outlook than how it looked two weeks ago."

The rally got an extra dose of adrenaline Thursday after an accounting board told Congress it may recommend an easing in financial reporting rules of tough-to-sell assets -- a change that banks say would help their bottom lines. Upheaval in the banking industry has been dogging the market since 2007, and hope that banks might finally get relief in how they value their bad assets spurred a flurry of buying on Wall Street.

"We might find that the banks are not as bad, or not bad at all, if these assets are marked differently," said Doreen Mogavero, president of the New York floor brokerage Mogavero, Lee & Co.

Better-than-expected retail sales figures also helped stocks, as did positive news from four Dow companies: Bank of America Corp., General Electric Co., General Motors Corp., and Pfizer Inc.

GE's credit rating was cut by less than expected, GM said it will not need a $2 billion loan it previously requested from the government, and Pfizer reported a successful cancer drug trial. Bank of America's CEO told reporters his bank was profitable in January and February. Citigroup Inc. triggered this week's rally Tuesday with similar remarks.

No one is calling the end to the selling on Wall Street. The economic picture is too uncertain, and much of this week's rally has been driven by technical factors. One of those factors is traders' inclination to buy stock to cover "short" bets, or bets that a stock will fall.

But it's been the most reassuring week in months for the stock market. The Dow Jones Wilshire 5000 index, which reflects nearly all stocks traded in America, has jumped 11.2 percent over the past three sessions. That's a paper gain of $900 billion.

"There's a lot of money on the sidelines, and a lot of people who've been waiting for the turn to come," Mogavero said. "I think that probably, people will want to get some of their money in the market."

The Dow rose 239.66, or 3.5 percent, to 7,170.06. The Standard & Poor's 500 index climbed 29.38, or 4.1 percent, to 750.74. The Nasdaq composite index gained 54.46, or 4 percent, to 1,426.10.

The Russell 2000 index of smaller companies rose 23.82, or 6.5 percent, to 390.12.

After a modest decline Monday and three days of buying, the Dow is up 8.2 percent so far for the week. The S&P 500 index is up 9.9 percent and the Nasdaq is up 10.2 percent. Before this week's rebound, the Dow and S&P had tumbled to their lowest levels since 1997 and 1996, respectively.

Advancing stocks outnumbered decliners by more than 10 to 1 on the New York Stock Exchange Thursday, where consolidated volume came to 7.2 billion shares, up from 7.1 billion shares Wednesday.

Not all of Thursday's data was positive. The Commerce Department said retail sales dipped by a modest 0.1 percent in February, but the Labor Department reported that first time claims for unemployment benefits rose last week to 654,000 from 639,000 the week before, more than analysts had expected.

Investors are also aware that much of this week's rebound can be attributed to covering short positions. Traders have been covering short bets by buying stocks, especially after the Securities and Exchange Commission said it was considering reinstating the "Uptick Rule." The rule, eliminated in 2007, aimed at curbing short-selling by only allowing it when a stock edged higher.

On Thursday investors grew more optimistic about bank stocks after the chairman of the independent Financial Accounting Standards Board told the House Financial Services subcommittee on capital markets that the board "could have the guidance in three weeks" on so-called "mark-to-market" accounting.

Frozen demand in the credit markets has sharply lowered the value of assets having anything to do with real estate or consumer credit -- even though most of the loans themselves are still getting paid off. Those lower asset values have translated into huge losses for banks.

Citigroup rose 8.4 percent, Bank of America rose 19 percent, Wells Fargo & Co. rose 17 percent, and JPMorgan Chase & Co. rose 14 percent.

GM rose 17.2 percent to $2.18 after its chief financial officer said it would not need its federal loan for March.

GE rose nearly 13 percent to $9.57 after Standard & Poor's downgraded the conglomerate by one notch from "AAA" due to troubles in GE's lending arm.

Meanwhile, pharmaceutical stocks soared Thursday on more acquisition news and a positive drug trial at Pfizer Inc.

Pfizer said it ended a successful trial of its cancer drug Sutent early after data showed the drug met its goal of slowing the progression of pancreatic cancer. Shares of Pfizer, a Dow component, rose nearly 10 percent to $14.02.

Switzerland's Roche Holding AG agreed to buy the rest of Genentech Inc. for $46.8 billion, while Gilead Sciences Inc. agreed to buy CV Therapeutics Inc. for $1.4 billion. Earlier this week, drugmakers Merck and Schering-Plough agreed to merge in a $41 billion deal.

Government bond prices rose, driving the yield on the 10-year Treasury note down to 2.86 percent from 2.91 percent late Wednesday. The dollar strengthened against other major currencies, gold prices gained, and crude oil surged $4.70 to $47.03 a barrel on the New York Mercantile Exchange.

Overseas markets were mixed. Britain's FTSE 100 rose 0.5 percent, Germany's DAX index rose 1.1 percent, and France's CAC-40 rose 0.8 percent. Japan's Nikkei stock average dropped 2.4 percent, while Hong Kong's Hang Seng index rose 0.6 percent.


----------



## bigdog

*Looking good for Monday!!*

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,794.48	+82.42	+2.22% @ 11.00 AM
DAX	4,028.85	+72.63	+1.84% @ midday
CAC 40	2,760.92	+66.67	+2.47% @ midday

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,569.28	+371.03	+5.15%
Hang Seng	12,525.80	+524.27	+4.37%
Straits Times	1,577.52	+83.99	+5.62%


http://biz.yahoo.com/ap/090313/wall_street.html

*Wall Street set to extend gains for 4th session*
Friday March 13, 7:04 am ET
By Sara Lepro, AP Business Writer
*Stock futures point higher as investors look to extend gains for fourth straight session*

NEW YORK (AP) -- Stock futures pointed higher early Friday as investors prepared to extend Wall Street's advance into a fourth straight session.

Overseas markets were already setting the tone for the day, rising on hopes for new economic stimulus measures in China and Japan. Chinese Premier Wen Jiabao said the government is ready to roll out even more measures, while Japan's prime minister is calling for a new stimulus package.

Later Friday morning, the Commerce Department will report international trade data for January.

The Dow Jones industrials have rallied 9.5 percent in three days as surprisingly positive reports from companies across a wide range of industries is sparking hopes of an economic turnaround. Most encouraging perhaps is the news from banks that suggests first-quarter results won't be nearly as dire as many analysts have feared.

While the week's gains have been a welcome respite to the unrelenting selling that has plagued investors for weeks and the sentiment on the Street is more upbeat than it has been in months, analysts warn the rally may not last long. Technical factors that have helped drive the market this week are likely to continue Friday, including short covering, when traders buy stock to cover "short" bets, or bets that a stock will fall.

Dow futures rose 51, or 0.7 percent, to 7,167. Standard & Poor's 500 index futures jumped 5.40, or 0.7 percent, to 753.80, while Nasdaq 100 index futures rose 3, or 0.3 percent, to 1,166.

Overseas, Japan's Nikkei stock average jumped 5.15 percent, while Hong Kong's Hang Seng index rallied 4.37 percent. In morning trading, Britain's FTSE 100 was up 1.68 percent, Germany's DAX index was up 0.93 percent, and France's CAC-40 was up 1.72 percent.

Bond prices were mixed early Friday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, jumped to 2.94 percent from 2.86 percent late Thursday. The yield on the three-month T-bill, considered one of the safest investments, fell to 0.19 percent from 0.22 percent late Thursday.

The dollar was mixed against other major currencies. Gold prices also fell.

Light, sweet crude for April delivery rose 12 cents to $47.15 a barrel in electronic premarket trading on the New York Mercantile Exchange.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 597.04, or 9 percent, at 7,223.98. The Standard & Poor's 500 index rose 73.17, or 10.7 percent, to 756.55. The Nasdaq composite index rose 5.40, or 0.4 percent, closing at 1,431.50

A sharp rebound in bank shares and easing worries about the economy pushed stocks to their best week since late November.

The market shot up in one week as it might in some years, with major indicators chalking up gains of around 10 percent.

Friday's gains were modest compared with the rallies on Tuesday and Thursday, but investors welcomed the market's ability to hold its ground. Several recent rallies have ended with disappointing selloffs.


*The NYSE DOW closed HIGHER +53.92 points 	+0.75% on Friday March 13*
Sym Last........ ........Change..........
Dow	7,223.98	+53.92	+0.75%
Nasdaq	1,431.50	+5.40	+0.38%
S&P 500	756.55	+5.81	+0.77%
30-yr Bond	3.6720%	+0.0370

NYSE Volume	7,943,284,500
Nasdaq Volume	2,081,387,120

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,753.68	+41.62	+1.12%
DAX	3,953.60	-2.62	-0.07%
CAC 40	2,705.63	+11.38	+0.42%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,569.28	+371.03	+5.15%
Hang Seng	12,525.80	+524.27	+4.37%
Straits Times	1,577.52	+83.99	+5.62%

http://biz.yahoo.com/ap/090313/wall_street.html
*Financials lead stocks to best week since November*
Friday March 13, 6:42 pm ET
By Sara Lepro and Tim Paradis, AP Business Writers
*Rebounding financials push stocks to best week since November; market gains for 4th day*

NEW YORK (AP) -- A sharp rebound in bank shares and easing worries about the economy pushed stocks to their best week since late November.

The market shot up in one week as it might in some years, with major indicators chalking up gains of around 10 percent.

Friday's gains were modest compared with the rallies on Tuesday and Thursday, but investors welcomed the market's ability to hold its ground. Several recent rallies have ended with disappointing selloffs.

Fears eased during the week that the nation's major financial institutions would collapse or at least require additional government lifelines to stay alive. Market veterans were quick to rein in hopes that stocks would chart an easy recovery but many still saw the four straight days of gains a good sign.

"The overriding question people have is 'Is this rally it?'" said Quincy Krosby, chief investment strategist at The Hartford. "For that to happen I think we need to see more evidence of a turnaround. We still have significant problems in terms of unemployment. The problems with the banks are still there."

On Friday, the Dow Jones industrial average rose 53.92, or 0.8 percent, to 7,223.98. The Dow hasn't put up four straight gains since late November.

The Standard & Poor's 500 index rose 5.81, or 0.8 percent, to 756.55. The Nasdaq composite index rose 5.40, or 0.4 percent, to 1,431.50.

For the week, the Dow jumped 9 percent, the S&P 500 index added 10.7 percent and the Nasdaq rose 10.6 percent. It was the best week for the major indexes since the week ended Nov. 28.

Still, the Dow and the S&P 500 index remain down by about half from their peak in October 2007.

The Dow Jones Wilshire 5000 index, which reflects nearly all stocks traded in America, jumped 10.7 percent for the week. That's a paper gain of about $900 billion.

The turnaround began Tuesday as the head of Citigroup Inc. said the bank had managed to turn a profit in the first two months of the year. That helped ease worries about bad debt that have cloaked financial stocks since the collapse of Lehman Brothers in September.

Traders who last week pounded Citi shares to be low $1 began buying the stock again. The gains in the beaten-down industry were enormous: Citi surged 73 percent for the week, Bank of America Corp. jumped 83 percent and Wells Fargo & Co. rose 62 percent.

Traders are often reluctant to hold on to large positions ahead of the weekend out of fears that bad news could be on the way. Many on Wall Street looked to a weekend packed with events that could have a great affect on trading next week.

Finance ministers and central bankers from the Group of 20 countries were meeting Friday and Saturday outside London, and Federal Reserve Chairman Ben Bernanke was set to discuss the financial crisis in a rare interview to be broadcast on CBS' "60 Minutes" Sunday.

Energy stocks dragged on the market Friday ahead of a weekend OPEC meeting on whether the cartel should adjust oil production. Health stocks rose after Schering-Plough Corp. reported positive trial results for an anti-clotting drug. Merck, which said at the start of the week it planned to acquire Schering-Plough, jumped $3.04, or 12.7 percent, to $27.07.

Financial stocks mostly rose Friday following reports that Citigroup Inc. Chairman Richard Parsons said the bank doesn't need additional government support. Citigroup has received three rounds of emergency funding.

Bank of America Corp. and JPMorgan Chase & Co. also said this week that they have been profitable so far this year. The market has been quick to embrace the encouraging signs about the financial system after weeks of unrelenting selling spurred on by concerns that the government's efforts to break a freeze in lending weren't working.

Investors also grew more confident about the prospects for the economy during the week.

A government report on retail sales for February wasn't as bad as many analysts had feared. Word also arrived that an accounting board may recommend an easing of financial reporting rules of tough-to-sell assets. Banks say a change in so-called "mark-to-market" accounting rules would help their bottom lines.

Officials in Washington also said they would consider reinstating a rule that makes it harder to place bets a stock will fall. Some analysts blame so-called short selling with fanning the volatility in the market, particularly the financial stocks.

Analysts said technical factors that helped drive the market for the week continued Friday, including short-covering, when traders buy stock to cover their short-sale trades.

Despite the glimmers of hope, analysts are still a long way away from declaring that the worst is over.

"We are going to remain cautious because the slightest bit of bad news could turn this thing around," said Joe Arnold, investment adviser at Dawson Wealth Management.

But some unease can be good for the market, Krosby said.

She noted that doubt about the rally and the more incremental gains Wednesday and Friday actually increase the chances it could hold some of its advance.

"Oddly enough, the more skepticism about the duration of the rally the better it is because it's telling you there are still buyers on the side."

Upbeat reports from companies in a range of industries lifted the market after stocks finished at their lowest levels in more than a decade on Monday. General Motors Corp. said Thursday it wouldn't need the latest installment of government bailout money, and a cut in General Electric Co.'s credit rating on the same day wasn't as bad as some had feared.

On Friday, Citigroup rose 11 cents, or 6.6 percent, to $1.78, while Bank of America fell 9 cents, or 1.5 percent, to $5.76. Wells Fargo slipped 1 cent to $13.94.

General Motors extended its gains on Friday, jumping 54 cents, or 24.8 percent, to $2.72. For the week, GM rose 88 percent.

More than 2 stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 6.65 billion shares compared with 7.2 billion shares traded Thursday.

Bonds were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.90 percent from 2.86 percent late Thursday. The yield on the three-month T-bill fell to 0.20 percent from 0.22 percent Thursday.

The dollar fell against other most other major currencies, while gold prices rose.

Light, sweet crude for April delivery fell 78 cents to settle at $46.25 a barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 rose 1.1 percent, Germany's DAX index slipped 0.7 percent, and France's CAC-40 rose 0.4 percent. Japan's Nikkei stock average jumped 5.2 percent.

The Dow Jones industrial average closed the week up 597.04, or 9 percent, at 7,223.98. The Standard & Poor's 500 index rose 73.17, or 10.7 percent, to 756.55. The Nasdaq composite index rose 5.40, or 0.4 percent, closing at 1,431.50.

The Russell 2000 index, which tracks the performance of small company stocks, rose 42.04, or 12 percent, to 393.09.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended at 7,675.94, up 740.56, or 10.7 percent, for the week. A year ago, the index was at 13,266.85.


----------



## CFDTrading

*Will Bernankes Forecast of 2010 Recovery Spark Bullish Sentiment*

Monday, 16 March 2009 12:14:26 GMT
Written by John Rivera, Analyst 
Full Article

*What To Watch For In The US Session

•    Bernanke Predicts Recovery By Year’s End
•    Bullish Sentiment Built from Asian and European Rallies
•    Industrial Production on Tap*
*
Will Bernanke’s Forecast of 2010 Recovery Spark Bullish Sentiment*

Fed Chairman Ben Bernanke in an interview on 60 minutes forecasted that the U.S. economy could recovery by the end of the year, if we have the “political will”. Expiations are that the Fed and the U.S. treasury will ask law makers for more funds to help beleaguered banks as they view the stabilization of the banking sector as the key to an economic recovery. However, after recent reports that AIG gave out a nearly two thirds of the aide it received to trading partners like Goldman Sachs and that it paid $165 million in bonuses, they may be hard pressed to get the additional funding. Several lawmakers have already been critical of further aide and if markets view this as a negative then we could see another sell off of equities. Today’s economic calendar won’t help the Bulls case as industrial production is expected to have declined by 1.3% in February following a 1.8% drop the month prior. Additionally, the NAHB Housing Market Index is forecasted to remain flat in March as efforts to jump start lending have yet to impact the downtrodden sector. 

*Dow Jones     7223.98*
The DJIA futures were pointing toward a higher open as bullish sentiment from Asia and Europe is carrying over.  The ability for finance leaders at the G-20 to come to some consensus on focusing on removing toxic assets from banks balance sheets and instituting global regulation to prevent another similar crisis is helping restore confidence.  Additionally, Barclays reported that it had a strong start to 2009 adding to the Citibank and Bank of America positive outlooks. However, oil is down over 4% in overnight trading after OPEC said it would cut production further which could weigh on the energy names. 
*
NASDAQ      1431.50*
The Nasdaq managed to finish in positive territory ion Friday as it saw profit taking in tech names. We could see resumed buying n the sector today on the broader bullish sentiment which could lift the index higher.
* 
S&P 500      756.55*
The S&P 500 continues to be driven higher by financials as confidence is returning to the sector, we could se that continued today on the positive Barclay’s outlook. However, if markets grow concerned that lawmakers will turn off the spigot for troubled banks then we could see a reverse in sentiment.






*Current Snap Shot*


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The last hour spoilt everybodies day!!!!*

Wall Street's big rally fizzled -- and maybe that's OK.

Analysts said Monday's pullback after a four-session surge didn't necessarily signal that traders were reconsidering their newfound optimism about financial stocks, a main driver behind last week's advance.

In fact some viewed the measured easing in stocks as reassuring following a surge of more than 9 percent in major indicators last week, more than the market has moved in some years.

The NYSE DOW closed LOWER -7.01 points	-0.10% on Monday March 16
Sym Last........ ........Change..........
Dow	7,216.97	-7.01	-0.10%
Nasdaq	1,404.02	-27.48	-1.92%
S&P 500	753.89	-2.66	-0.35%
30-yr Bond	3.7650%	+0.0930

NYSE Volume	8,975,507,000
Nasdaq Volume	2,175,227,750


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,863.99	+110.31	+2.94%
DAX	4,044.54	+90.94	+2.30%
CAC 40	2,791.66	+86.03	+3.18%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,704.15	+134.87	+1.78%
Hang Seng	12,976.71	+450.91	+3.60%
Straits Times	1,586.32	+8.80	+0.56%

http://biz.yahoo.com/ap/090316/wall_street.html

*Stocks give up gains after 4-day rally*
Monday March 16, 6:10 pm ET
By Stephen Bernard and Tim Paradis, AP Business Writers
*Wall Street gives up most of its gains after 4-day rally; Financial stocks pare advances*

NEW YORK (AP) -- Wall Street's big rally fizzled -- and maybe that's OK.

Analysts said Monday's pullback after a four-session surge didn't necessarily signal that traders were reconsidering their newfound optimism about financial stocks, a main driver behind last week's advance.

In fact some viewed the measured easing in stocks as reassuring following a surge of more than 9 percent in major indicators last week, more than the market has moved in some years.

"This is healthy," said Dave Rovelli, managing director of trading at brokerage Canaccord Adams in New York. "The best thing for this market is that we don't go up aggressively. A steady rise of a few up days then a down day would be a lot better than 1,000 points up."

Stocks rose for much of the session as investors snapped up hard-hit financial shares. Comments from Federal Reserve Chairman Ben Bernanke and reassuring news from a British bank eased some worries about the overall economy and prospects for financial companies struggling with bad debt.

Bernanke said Sunday the recession would probably end this year if the government's efforts to revive the banking industry succeed. In an interview with CBS' "60 Minutes," Bernanke said fixing the economy will require getting banks to lend more freely and financial markets to work more normally again.

Britain's Barclays PLC calmed investors after saying it has been performing well in 2009. Last week, both Citigroup Inc. and Bank of America Corp., reported that their businesses were stabilizing. The good news from Citi kicked off the market's turn higher last Tuesday.

Market analysts had cautioned since the start of the rally that it could be short, and that stocks were probably not beginning a long-term recovery.

Steven Goldman, chief market strategist at Weeden & Co., said some traders had been skeptical of the rally and suspect it is the type of head-fake that can occur in bear markets. Stocks jumped 20 percent from late November to early January before giving up their gains and sliding.

After the market's recent run-up, he said, "it should be getting bumpier here as we move forward."

On Monday, the Dow slipped 7.01, or 0.1 percent, to 7,216.97. The blue chips rose as much as 169 points during the session.

The Standard & Poor's 500 index fell 2.66, or 0.4 percent, to 753.89, while the tech-heavy Nasdaq composite index fell 27.48, or 1.9 percent, to 1,404.02.

The Russell 2000 index of smaller companies fell 6.73, or 1.7 percent, to 386.36.

More stocks rose than fell even as the major indicators lost ground. Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where consolidated volume came to 7.6 billion shares compared with 6.7 billion shares traded Friday.

It was "a slow bleed into the close," said Ryan Larson, senior equity trader at Voyageur Asset Management. "Nothing specific hit the pavement in terms of negative news. The market's just exhausted at this point."

"Healthy profit-taking is expected, and it happened today."

Investors also found reason to buy in the early going after finance ministers of leading industrialized countries promised over the weekend to do more to fight the global recession. The finance officials said they would help banks sweep up soured assets.

The market's tone has improved in the past week as the reports from banks led investors to reconsider their pessimistic bets. But traders still have their worries, particularly about the financial industry.

American Express Co. fell 43 cents, or 3.3 percent, to $12.66 and dragged on the financial stocks after the company said its credit card holders fell further behind on their bills in February.

The KBW Bank Index, which tracks 24 of the nation's largest banks, slipped 0.2 percent after spending much of the session higher.

Some of the hardest hit banks still showed big gains but ended off their highs.

Citigroup rose 55 cents, or 30.9 percent, to $2.33, while Bank of America rose 42 cents, or 7.3 percent, to $6.18.

David Hefty, chief executive of Cornerstone Wealth Management in Auburn, Ind., said investors have been moving in unison lately.

"Investors have a stampede mentality," he said. "They stampede in and they stampede out."

Bond prices fell Monday as investors gravitated toward stocks. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.96 percent from 2.90 percent late Friday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.23 percent from 0.20 percent Friday.

The dollar mostly fell against other major currencies. Gold prices also fell.

Light, sweet crude rose $1.10 to settle at $47.35 per barrel on the New York Mercantile Exchange.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

You know things have changed on Wall Street when the housing industry saves the day.

A surprise government report that home construction picked up in February caught traders off guard and injected a week-old stock market rally with new energy Tuesday.

Stocks of homebuilders and banks jumped as bullish investors saw yet another sign that the deeply troubled economy was beginning to show signs of stabilizing.

*The NYSE DOW closed HIGHER +178.73 points	+2.48% on Tuesday March 17*
Sym Last........ ........Change..........
Dow	7,395.70	+178.73	+2.48%
Nasdaq	1,462.11	+58.09	+4.14%
S&P 500	778.12	+24.23	+3.21%
30-yr Bond	3.8040%	+0.0390

NYSE Volume	7,056,498,500
Nasdaq Volume	2,126,583,250


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,857.10	-6.89	-0.18%
DAX	3,987.77	-56.77	-1.40%
CAC 40	2,767.28	-24.38	-0.87%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,949.13	+244.98	+3.18%
Hang Seng	12,878.09	-98.62	-0.76%
Straits Times	1,559.96	-26.36	-1.66%

http://biz.yahoo.com/ap/090317/wall_street.html
*Wall Street resumes rally following housing report*
Tuesday March 17, 6:13 pm ET
By Stephen Bernard and Tim Paradis, AP Business Writers
*Stocks regain momentum after better-than-expected housing report; Dow jumps 179 points*

NEW YORK (AP) -- You know things have changed on Wall Street when the housing industry saves the day.

A surprise government report that home construction picked up in February caught traders off guard and injected a week-old stock market rally with new energy Tuesday.

Stocks of homebuilders and banks jumped as bullish investors saw yet another sign that the deeply troubled economy was beginning to show signs of stabilizing.

Tuesday's rally, which picked up steam as the day went on, wound up pushing the Dow Jones industrial average up 179 points or 2.5 percent. It was the market's fifth gain over the past six trading days.

The construction report was the latest checkmark in a growing list of upbeat news. Traders began reconsidering their dire view of the economy early last week when Citigroup Inc. said it had generated a profit in the first two months of the year.

Other troubled banks handed out similarly upbeat assessments, followed by encouraging reports on key measures of the economy's health such as retail sales.

Since the rally began last week the Dow Jones industrials are up 849 points, or 13 percent. That's the kind of gain that might normally take a year to assemble.

The market has established a clear shift in tone over the past week. Jittery traders had blown apart earlier rallies this year by selling just as stocks managed to advance. A 20 percent run-up from late November until the start of the year fizzled as worries grew about the tattered balance sheets at large banks and signs that consumers will pulling back on their spending.

For the first time in months, traders are starting to allow themselves to think that this past week's rally could be the one that sticks.

"I'd say it's very encouraging, maybe even sustainable," said Randy Bateman, chief investment officer at Huntington Funds, in Columbus, Ohio.

On Tuesday, the Dow rose 178.73, or 2.5 percent, to 7,395.70 after falling modestly on Monday.

Broader stock indicators also showed big gains. The Standard & Poor's 500 index rose 24.23, or 3.2 percent, to 778.12, while the Nasdaq composite index rose 58.09, or 4.1 percent, to 1,462.11.

The Russell 2000 index of smaller companies rose 17.23, or 4.5 percent, to 403.59.

Four stocks rose for every one that fell on the New York Stock Exchange, where volume came to a light 1.49 billion shares. Light volume indicates less conviction behind the market's moves.

Brett D'Arcy, chief investment officer at CBIZ Wealth Management, said the market's measured moves are a great sign because it means traders aren't simply trying to grab quick profits.

Investors embraced the data on home construction that came in well ahead of what economists had been expecting. Building permit applications, a key measure of future activity, also rose unexpectedly.

Tim Courtney, the chief investment officer at Burns Advisory Group, said the report was encouraging. "We could be in the very early stages of some kind of normalization" in housing, he said, one of the most distressed parts of the economy.

Traders snapped up homebuilder stocks after the rare burst of enthusiasm for anything related to the housing market. Pulte Homes Inc. rose 64 cents, or 6.7 percent, to $10.16, while Lennar Corp. jumped 68 cents, or 8.7 percent, to $8.52. Toll Brothers Inc. advanced 95 cents, or 5.9 percent, to $17.06.

Stocks of home-supply retailers like Home Depot Inc. and Lowes Cos. rose more than 6 percent.

Financial shares, which led the rally last week, put up big gains again Tuesday. Banks have been hit hard by souring mortgage debt, and any pickup in housing could help their balance sheets.

Citigroup rose 18 cents, or 7.7 percent, to $2.51, while PNC Financial Services Group Inc. rose $1.19, or 4.4 percent, to $28.51. JPMorgan Chase & Co. rose $2.05, or 8.9 percent, to $25.14.

Traders awaited the outcome of a two-day meeting of the Federal Reserve's interest rate committee that ends Wednesday. The central bank is widely expected to leave rates at their current historically low level, but the market will be keen to see how the Fed sizes up the economy in its statement that accompanies the decision on rates.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.01 percent from 2.96 percent late Monday. The yield on the three-month T-bill, considered one of the safest investments, slipped to 0.22 percent from 0.23 percent.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude rose $1.81 to settle at $49.16 a barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 fell 0.2 percent, Germany's DAX index fell 1.4 percent, and France's CAC-40 slid 0.9 percent. Japan's Nikkei stock jumped 3.2 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The last two hours saved the day!!*

The Federal Reserve kept Wall Street's big rally alive -- and gave the Treasury market a huge boost as well.

Both markets surged Wednesday after the Fed said it would pump more than $1 trillion into the economy to help revive the housing market. The plan includes buying up to $300 billion of long-term government bonds during the next six months.

Investors expect the move to drive down borrowing costs for everything from mortgages to credit cards. The Dow Jones industrial average reversed early losses to end up 91 points and the yield on the benchmark 10-year Treasury note plunged, indicating strong demand for the note.

*The NYSE DOW closed HIGHER +90.88 points	+1.23% on Wednesday March 18*
Sym Last........ ........Change..........
Dow	7,486.58	+90.88	+1.23%
Nasdaq	1,491.22	+29.11	+1.99%
S&P 500	794.35	+16.23	+2.09%
30-yr Bond	3.5720%	-0.2320

NYSE Volume	10,528,057,000
Nasdaq Volume	2,823,449,500

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,804.99	-52.11	-1.35%
DAX	3,996.32	+8.55	+0.21%
CAC 40	2,760.34	-6.94	-0.25%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,972.17	+23.04	+0.29%
Hang Seng	13,117.17	+239.08	+1.86%
Straits Times	1,575.94	+16.91	+1.08%

http://biz.yahoo.com/ap/090318/wall_street.html

*Stocks jump after Fed says it will buy Treasurys*
Wednesday March 18, 6:30 pm ET
By Tim Paradis and Madlen Read, AP Business Writer
*Stocks rise after Federal Reserve says it will buy up to $300B in Treasurys; Dow gains 91*

NEW YORK (AP) -- The Federal Reserve kept Wall Street's big rally alive -- and gave the Treasury market a huge boost as well.

Both markets surged Wednesday after the Fed said it would pump more than $1 trillion into the economy to help revive the housing market. The plan includes buying up to $300 billion of long-term government bonds during the next six months.

Investors expect the move to drive down borrowing costs for everything from mortgages to credit cards. The Dow Jones industrial average reversed early losses to end up 91 points and the yield on the benchmark 10-year Treasury note plunged, indicating strong demand for the note.

The dollar fell as investors worried the government's actions would eventually fan inflation.

The Fed's move, analysts said, is likely to produce an immediate drop in mortgage rates, of 0.25 to 0.5 percent percentage points. The central bank also made clear it would be able to purchase the majority of new mortgage-backed securities for at least the rest of the year, possibly longer.

That's great news for those borrowers with good incomes and healthy credit scores who are able to qualify for a loan. But dramatically tighter lending standards have made it tough for many borrowers to qualify.

Still, it was a plus for the housing industry, which many analysts believe must recover in order for the overall economy to prosper again. Homebuilder and financial company stocks shot higher on the news, which came a day after the Commerce Department reported better-than-expected housing start numbers for February.

The sheer magnitude of the Fed's proposal "indicates they have a lot of weapons still in the arsenal," said Bruce McCain, chief investment strategist at Key Private Bank in Cleveland.

The Fed said it would build on a plan to buy mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac. It also will buy an additional $750 billion, bringing its total purchases of these securities to $1.25 trillion. It also will boost its purchase of Fannie and Freddie debt to $200 billion.

The Fed's announcement accompanied its decision to keep interest rates at historically low levels. Chairman Ben Bernanke has said in recent weeks that the recession could end this year if the credit and financial markets can be stabilized. Bernanke and other officials have said they would deploy whatever tools necessary to revive the economy.

"They are certainly, assertively doing everything they can to intervene," said David Darst, chief investment strategist of Morgan Stanley's Global Wealth Management Group.

The Dow Jones industrial average rose 90.88, or 1.2 percent, to 7,486.58.

Broader stock indicators also jumped. The Standard & Poor's 500 index added 16.23, or 2.1 percent, to 794.35, and the Nasdaq composite index rose 29.11, or 2 percent, to 1,491.22.

The Russell 2000 index of smaller companies jumped 14.04, or 3.5 percent, to 417.63.

More than four stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to a heavy 9 billion shares compared with 6 billion shares traded Tuesday.

The market had traded lower ahead of the Fed's decision.

Stocks have risen for six out of the last seven days. Since the market rally began last week, the Dow has jumped 14.4 percent, and the S&P 500 has soared 17.4 percent. Those are the types of gains that would normally make for a great year in the stock market.

Government bond prices surged. The yield on the benchmark 10-year Treasury note, which moves opposite its price, tumbled to 2.50 percent from 3.01 percent late Tuesday. The yield on the three-month T-bill, considered one of the safest investments, slipped to 0.20 percent from 0.22 percent late Tuesday.

The dollar fell against other major currencies. Gold prices also slid as demand for safe haven holdings fell.

For both the stock and bond markets, the Fed's announcement was a welcome surprise. After the last Fed meeting in January, policy makers said they were considering buying government debt. But investors were skeptical the Fed would actually go through with it.

"We've suffered over the last month or so with disappointment that a lot of the initiatives out of the administration haven't materialized, and here is the Fed moving in with very strong actions to get things back on track," McCain said.

The Fed move -- which economists call "quantitative easing" -- is another way to push interest rates lower by essentially adding more money to the financial system. The Fed is using this tool now since its other main policy lever, the federal funds rate, has already been ratcheted down as low as it can go.

Bank stocks -- including Citigroup Inc., Bank of America Corp., Wells Fargo & Co. and JPMorgan Chase & Co. -- got an extra boost after the Fed announcement. The Fed's actions are intended to keep interest rates low and also to unfreeze borrowing activity, which could be a huge help for banks.

Citi and Bank of America each jumped more than 22 percent, while Wells Fargo rose 17.5 percent and JPMorgan added 7.8 percent.

Home builders put up huge gains as well. Hovnanian Enterprises Inc. jumped 50 percent to $1.44, while Toll Brothers Inc. rose 5.7 percent. Home improvement retailers jumped as well. Home Depot Inc. rose 5.1 percent and Lowe's Cos. added 4.7 percent.

Technology stocks rose on news that International Business Machines Corp. is in discussions to buy Sun Microsystems Inc. for at least $6.5 billion in cash. Sun skyrocketed 79 percent, rising $3.92 to $8.89. IBM fell 96 cents, or 1 percent, to $91.95.

Investors are growing more hopeful that the rally in stocks might have staying power, though many remain cautious. Stocks gained 20 percent from late November until the start of the year, only to come crashing down to levels not seen in more than a decade as worries grew about the stability of the financial system and the economy's ability to turn higher.

As the Federal Reserve announced its plans, Capitol Hill focused on the millions of dollars in bonuses American International Group Inc. recently granted executives. AIG is roughly 80 percent owned by the government after receiving billions in federal bailout money.

President Barack Obama said he is seeking greater regulatory authority over financial institutions like AIG. Obama said the new powers he is seeking would be similar to those now exercised over banks by the Federal Deposit Insurance Corp. It would be part of the broader financial regulatory steps the administration is creating.

AIG rose 44 percent to $1.38.

Meanwhile, an unexpected build in gasoline inventories helped send oil prices lower. Light, sweet crude fell $1.02 to $48.14 per barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 fell 1.4 percent, Germany's DAX index rose 0.2 percent, and France's CAC-40 fell 0.3 percent. Japan's Nikkei stock average rose 0.3 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors had a change of heart about the Federal Reserve's plans to buy Treasury bonds and doused Wall Street's two-week-old rally.

Banking and other financial shares pulled the market lower Thursday as investors worried the the Fed's plan would hurt the dollar and revive inflation. But energy stocks rose, getting a lift from soaring crude oil prices.

The retreat came a day after stocks surged in reaction to the Fed's aggressive plans to pump more than $1 trillion into the financial system by buying Treasury bonds and stepping up its purchases of other debt securities. The aim is to lower borrowing rates and stimulate lending.

*The NYSE DOW closed LOWER -85.78	-1.15% on Thursday March 19*
Sym Last........ ........Change..........
Dow	7,400.80	-85.78	-1.15%
Nasdaq	1,483.48	-7.74	-0.52%
S&P 500	784.04	-10.31	-1.30%
30-yr Bond	3.6120%	+0.0400

NYSE Volume	10,309,053,000 (prior day 10,528,057,000)
Nasdaq Volume	2,368,790,250 (prior day 2,823,449,500)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,816.93	+11.94	+0.31%
DAX	4,043.46	+47.14	+1.18%
CAC 40	2,776.99	+16.65	+0.60%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,945.96	-26.21	-0.33%
Hang Seng	13,130.92	+13.75	+0.10%
Straits Times	1,586.66	+10.72	+0.68%

http://biz.yahoo.com/ap/090319/wall_street.html
Stock rally fades as investors assess Fed moves
Thursday March 19, 6:17 pm ET
By Tim Paradis and Sara Lepro, AP Business Writers
Wall Street retreats as investors pause after big rally to assess Federal Reserve's actions

NEW YORK (AP) -- Investors had a change of heart about the Federal Reserve's plans to buy Treasury bonds and doused Wall Street's two-week-old rally.

Banking and other financial shares pulled the market lower Thursday as investors worried the the Fed's plan would hurt the dollar and revive inflation. But energy stocks rose, getting a lift from soaring crude oil prices.

The retreat came a day after stocks surged in reaction to the Fed's aggressive plans to pump more than $1 trillion into the financial system by buying Treasury bonds and stepping up its purchases of other debt securities. The aim is to lower borrowing rates and stimulate lending.

But investors began to digest the possible downsides of the Fed's program, such as a potentially weaker dollar that can lead to higher prices for commodities such as oil and grains. And, eventually, staples like gas and food.

"After the initial euphoria surrounding the surprise announcement yesterday, there's a little more analysis of this going on and it's leading to some questions," said Todd Salamone, senior vice president of research at Schaeffer's Investment Research.

Skepticism about how long it would take for the effects of the Fed's program to take hold also weighed down shares, particularly those of banks. Investors have been hungry for any signs that confidence may finally return to battered U.S. banks, and the market has had a generally dim view of the government's efforts to date to get lending moving again.

The Dow Jones industrial average fell 85.78, or 1.2 percent, to 7,400.80.

The broader Standard & Poor's 500 index fell 10.31, or 1.3 percent, to 784.04, while Nasdaq composite index fell 7.74, or 0.5 percent, to 1,483.48.

Declining issues narrowly outnumbered advancers on the New York Stock Exchange, where consolidated volume came to 8.8 billion shares compared with 9 billion shares Wednesday.

Wall Street's move lower ended, at least for now, a buying spree that has driven stocks sharply higher since last week. Even with Thursday's slide, the Dow is still up 13 percent and the S&P 500 index is up 15.9 percent over the past eight days. The gains are impressive considering that only a few weeks ago the market was trading at levels not seen in more than a decade.

Some analysts warned at the start of the rally that it could turn out to be the type of short-lived boost that comes about during bear markets, which are generally defined as a drop of at least 20 percent. The market is still about half below its peak in October 2007.

Joe Balestrino, a portfolio manager at Federated Investors Inc., said he doesn't expect the Fed's new money-injection program will be enough on its own to support an extended stock market advance.

"We're in a very weak environment," Balestrino said. "We don't see anything sustainable here."

Stephanie Giroux, chief investment strategist at retail brokerage TD Ameritrade, said she was optimistic that the Fed's latest medicine would work, but that any rebound is likely to be "slow and muted."

Some of traders' jitters Thursday came ahead of a quarterly expiration of options contracts on Friday. The sudden settling of many of those transactions can cause a surge in trading volume and more volatility in stock prices.

Energy stocks bucked the market's slide as oil surged above $50 a barrel. Oil jumped as the dollar sank against other major currencies in response to the Fed announcement. When the greenback weakens it essentially makes crude cheaper in other currencies.

Chevron Corp. gained 54 cents, or 0.8 percent, to $67.13, while Occidental Petroleum Corp. rose $2.14, or 3.8 percent, to $59.98.

Light, sweet crude rose $3.47, or 7 percent, to settle at $51.61 a barrel on the New York Mercantile Exchange.

Investors got a dose of good news Thursday from General Electric Co., which forecast a profitable first quarter and full year for its struggling finance unit. Fears that falling real estate values and unpaid credit card debt could further damage GE Capital have sent its stock price down 37.5 percent this year. GE's slipped 19 cents to $10.13.

Stocks rose early in the day Thursday after a report on jobless claims gave mixed messages about the state of the economy.

The number of initial requests for unemployment insurance last week dropped to a seasonally adjusted 646,000 from the previous week's revised figure of 658,000, which exceeded economists' estimates. But the number of people continuing to receive benefits set a new record for the eighth straight week, jumping 185,000 to a seasonally adjusted 5.47 million.

Financial stocks, which led the rally that began last week, couldn't hold their gains and dragged the market lower. Some investors were selling to lock in profits after several of those stocks doubled or tripled in a matter of weeks.

Citigroup fell 48 cents, or 15.6 percent, to $2.60, while JPMorgan Chase & Co. dropped $2.16, or 8 percent, to $24.95. Citigroup had traded just under $1 early last week.

Analysts also said short-selling was likely at play on Thursday, as investors placed bets that stocks would fall further.

In corporate news, FedEx Corp. said it plans to cut more jobs and trim wages again, as the company reported its fiscal third-quarter profit tumbled 75 percent. The shipping company is often seen as a bellwether for the economy. FedEx jumped $2.05, or 4.8 percent, to $45.10.

The Russell 2000 index that tracks small company stocks fell 4.37, or 1 percent, to 413.26.

Bond prices were mixed a day after steep gains because of news from the Fed.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, jumped to 2.60 percent from 2.50 percent late Wednesday. The yield on the three-month T-bill, considered one of the safest investments, slipped to 0.18 percent from 0.20 percent late Wednesday.

The dollar mostly fell against other major currencies, while gold prices soared.

Overseas, Britain's FTSE 100 rose 0.3 percent, Germany's DAX index gained 1.2 percent, and France's CAC-40 rose 0.6 percent. Japan's Nikkei stock average fell 0.3 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 54.40, or 0.8 percent, at 7,278.38. The Standard & Poor's 500 index rose 11.99, or 1.6 percent, to 768.54. The Nasdaq composite index rose 25.77, or 1.8 percent, closing at 1,457.27.

Wall Street closed out its first two-week gain in almost a year Friday -- barely. After a mixed start, stocks veered lower in the afternoon as financial stocks fell and investors collected profits from the advance that saw the Dow rise 14 percent over seven trading days. One reason for the market's pause: It simply ran out of upbeat economic and corporate news the past two days.

The major indexes did eke out a gain for the week, jolted by the Fed's plans to buy hundreds of billions of dollars worth of debt securities in hopes of reviving lending. Stocks initially jumped on Wednesday when the plans were announced but then fell Thursday and Friday as investors became concerned that the huge injection of money into the economy could cause inflation.

Other markets had a tumultuous week as well. In just two days, the dollar fell 5 percent versus the euro and 3 percent versus the yen, and oil prices soared 7 percent Thursday above $51 a barrel to the highest level this year.

*The NYSE DOW closed LOWER -122.42	 points  -1.65% on Friday March 20*
Sym Last........ ........Change..........
Dow	7,278.38	-122.42	-1.65%
Nasdaq	1,457.27	-26.21	-1.77%
S&P 500	768.54	-15.50	-1.98%
30-yr Bond	3.6540%	+0.0420

NYSE Volume	8,653,099,000 (prior day 10,309,053,000)
Nasdaq Volume	2,519,809,750 (prior day 2,368,790,250)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,842.85	+25.92	+0.68%
DAX	4,068.74	+25.28	+0.63%
CAC 40	2,791.14	+14.15	+0.51%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	7,945.96	-26.21	-0.33%
Hang Seng	12,833.51	-297.41	-2.26%
Straits Times	1,596.92	+12.06	+0.76%

http://biz.yahoo.com/ap/090320/wall_street.html

*Dow ends off 122 but Wall Street posts 2-week gain*
Friday March 20, 6:22 pm ET
By Tim Paradis, AP Business Writer
*Dow ends down 122 but Wall Street still manages to post first 2-week gain in nearly year*

NEW YORK (AP) -- Wall Street closed out its first two-week gain in almost a year Friday -- barely. After a mixed start, stocks veered lower in the afternoon as financial stocks fell and investors collected profits from the advance that saw the Dow rise 14 percent over seven trading days. One reason for the market's pause: It simply ran out of upbeat economic and corporate news the past two days.

The major indexes did eke out a gain for the week, jolted by the Fed's plans to buy hundreds of billions of dollars worth of debt securities in hopes of reviving lending. Stocks initially jumped on Wednesday when the plans were announced but then fell Thursday and Friday as investors became concerned that the huge injection of money into the economy could cause inflation.

Other markets had a tumultuous week as well. In just two days, the dollar fell 5 percent versus the euro and 3 percent versus the yen, and oil prices soared 7 percent Thursday above $51 a barrel to the highest level this year.

Many analysts believe stocks were due for some retrenchment.

"You get a run-up like that you're going to get a pullback," said Doreen Mogavero, president of the New York floor brokerage Mogavero, Lee & Co.

The Dow industrials fell 122.42, or 1.7 percent, to 7,278.38.

Broader stock indicators also lost ground. The S&P 500 index fell 15.50, or 2 percent, to 768.54, and the Nasdaq composite index fell 26.21, or 1.8 percent, to 1,457.27.

The Russell 2000 index of smaller companies fell 13.15, or 3.2 percent, to 400.11.

Declining issues outnumbered advancers by about 3 to 1 on the New York Stock Exchange. Consolidated volume came to 7.5 billion shares compared with 8.8 billion shares traded Thursday.

For the week, the Dow rose 0.8 percent, its first back-to-back weekly increase since the period ended May 2, 2008.

The S&P rose 1.6 percent, its first two-week gain since December, and the Nasdaq added 1.8 percent for the week.

The stock market began to rally off of 12-year lows beginning two weeks ago after several banks reported being profitable in the first two months of the year. Even after Thursday's retreat, the Dow was up 13 percent from its lows, and the Standard & Poor's 500 index was up nearly 16 percent.

The question now is whether there will be enough good news in the coming days to maintain the rally.

Michael Binger, portfolio manager at Thrivent Investment Management in Minneapolis, said the market's overall move is signaling that the economy is hitting bottom. He said it shouldn't be too difficult for stocks to resume their climb because expectations have fallen so low.

"I think the stock market is saying that fourth quarter of 2008 and first quarter of 2009 may be the trough in negative news," he said.

Bill Stone, chief investment strategist at PNC Wealth Management, said a retreat in financials wasn't surprising because they had jumped 60 percent from their lows in such a short time. "We had gone from way oversold to slightly overbought," he said.

Stone said investors' desire to lock in some profits as a rally gets going is typical of a bear market, generally defined as a fall of at least 20 percent from a peak.

Bond prices slipped. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.64 percent from 2.60 percent late Thursday. The yield on the three-month T-bill rose to 0.19 percent from 0.18 percent.

The dollar rose against other major currencies. Gold prices slipped.

Analysts have remained cautious about the market's rally, having seen other big advances crumble in the past year. From late November until early January stocks rose 20 percent only to fall to new lows as fears grew about the health of the nation's biggest banks and prospects for the economy.

Market veterans say some skepticism among investors is healthy. They are reassured by the step-stool approach the market has shown in recent weeks as big gains are followed by more modest moves. That gives traders time to make more reasoned assesments without simply diving into a market for fear of missing a big rally.

Investors also expect some money managers to do some buying with the March 31 end to the first quarter approaching. Stock prices are still seen as very cheap; the major indexes are still down by about half from their highs in October 2007.

Still, there are plenty of analysts who say the underpinnings of the economy remain too weak to justify a sustained recovery. The unemployment rate stands at 8.1 percent, its highest level since the wrenching recession of the early 1980s, and businesses and consumers are struggling to pay down debt. Many consumers who aren't hurting are still cutting back, fanning worries that the economy will only continue to shrink.

"All of these bounces in the last two years have run on emotion and this one has been no different," said Brian F. Reynolds, chief market strategist at WJB Capital Group.

Reynolds contends the sharp rallies after heavy bouts of selling trick investors into believing a recovery is at hand. "We bounce so hard off the bottom for these rallies that it just sucks people in because they want to believe," he said.

Some investors have still bought into the latest rally. As of midweek, investors had funneled $12 billion over the prior seven days into mutual funds that focus on U.S. stocks. That compares with $14.3 billion they pulled from these funds a week earlier, according to TrimTabs Investment Research.

Overseas, Britain's FTSE 100 rose 0.7 percent, Germany's DAX index rose 0.6 percent, and France's CAC-40 rose 0.5 percent. Japan's stock market was closed for a holiday.

The Dow Jones industrial average closed the week up 54.40, or 0.8 percent, at 7,278.38. The Standard & Poor's 500 index rose 11.99, or 1.6 percent, to 768.54. The Nasdaq composite index rose 25.77, or 1.8 percent, closing at 1,457.27.

The Russell 2000 index, which tracks the performance of small company stocks, rose 7.02, or 1.8 percent, to 400.11.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended at 7,801.33, up 125.39, or 1.6 percent, for the week. A year ago, the index was at 13,336.42.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*WOW DOW UP +497.48 points	+6.84%*

Wall Street got the news it wanted on the economy's biggest problems -- banks and housing -- and celebrated by hurtling the Dow Jones industrials up nearly 500 points. Investors added rocket fuel Monday to a two-week-old advance, cheering the government's plan to help banks remove bad assets from their books and also welcoming a report showing a surprising increase in home sales. Major stock indicators surged more than 6 percent, including the Dow, which had its biggest percentage gain since October.

Although analysts were still hesitant to say Wall Street is squarely on its way to recovery after the collapse that began last fall, they said the banking and housing news bolstered the belief that the economy is starting to heal.

"It's just hard to argue that there isn't an improvement in economic activity on the horizon," said Jim Dunigan, executive vice president at PNC Wealth Management.

*The NYSE DOW closed HIGHER +497.48 points	+6.84% on Monday March 23*
Sym Last........ ........Change..........
Dow	7,775.86	+497.48	+6.84%
Nasdaq	1,555.77	+98.50	+6.76%
S&P 500	822.92	+54.38	+7.08%
30-yr Bond	3.6930%	+0.0390

NYSE Volume	8,939,830,000 (prior day 8,653,099,000)
Nasdaq Volume	2,281,883,750 (prior day 2,519,809,750)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,952.81	+109.96	+2.86%
DAX	4,176.37	+107.63	+2.65%
CAC 40	2,869.57	+78.43	+2.81%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,215.53	+269.57	+3.39%
Hang Seng	13,447.42	+613.91	+4.78%
Straits Times	1,664.08	+67.16	+4.21%

http://biz.yahoo.com/ap/090323/wall_street.html
*Dow up nearly 500 on bank plan, rise in home sales*
Monday March 23, 5:19 pm ET
By Tim Paradis, AP Business Writer
*Dow jumps nearly 500 on gov't plan to soak up bad bank assets; home sales show surprise gain*

NEW YORK (AP) -- Wall Street got the news it wanted on the economy's biggest problems -- banks and housing -- and celebrated by hurtling the Dow Jones industrials up nearly 500 points. Investors added rocket fuel Monday to a two-week-old advance, cheering the government's plan to help banks remove bad assets from their books and also welcoming a report showing a surprising increase in home sales. Major stock indicators surged more than 6 percent, including the Dow, which had its biggest percentage gain since October.

Although analysts were still hesitant to say Wall Street is squarely on its way to recovery after the collapse that began last fall, they said the banking and housing news bolstered the belief that the economy is starting to heal.

"It's just hard to argue that there isn't an improvement in economic activity on the horizon," said Jim Dunigan, executive vice president at PNC Wealth Management.

The market began turning around two weeks ago on news that Citigroup Inc. was operating at a profit in January and February. A spate of more upbeat economic reports helped the market build on its gains, although the rally stalled last Thursday and Friday.

Analysts said they saw more fundamental strength in Monday's buying than they saw at the start of the rally. Dave Rovelli managing director of trading at brokerage Canaccord Adams, said there appeared to be less short covering, which occurs when traders are forced to buy to cover misplaced bets that stocks would fall. Short covering contributed to the market's surge after the Citigroup news.

"There is definitely new buying," he said. Rovelli also said the approaching end of the quarter can make money managers eager to buy into a market to make the statements they send to clients look stronger.

The market shot higher at the opening and kept going. The Treasury Department said its bad asset cleanup program would tap money from the government's $700 billion financial rescue fund and involve help from the Federal Reserve, the Federal Deposit Insurance Corp. and the participation of private investors.

The government's announcement was what the market had waited weeks to hear. Treasury Secretary Timothy Geithner had announced an outline of the program last month but provided few details then about how it would work, leading to a stock plunge that sliced 380 points from the Dow.

But while analysts were pleased with the market's performance Monday, they were also still cautious.

Subodh Kumar, an independent investment strategist in Toronto, said the Fed's announcement that it would buy government debt and the details on plans to help banks are giving traders hope for recovery.

"The market is shedding some of its excess pessimism. That doesn't mean the market goes straight up," he said.

Meanwhile, the National Association of Realtors' existing home sales report was overwhelmingly positive for the market although it showed a decline in home prices in February. Investors are embracing any sign that a glut in homes for sale may be easing. Monday's data followed a dose of good housing news last week as housing starts for February came in much better than expected.

Collapsing home prices and the damage they have caused banks are at the center of the economy's current problems and are a major focus for the stock market. Banks have sharply curbed lending after becoming weighed down with loans that have gone bad, especially mortgages.

Investors had been largely disappointed in the government's efforts to date to restore the banks to health, but finally seemed encouraged by the long-awaited announcement Monday of details for the government's bad loan cleanup plan.

"The actions that we're getting from a policy standpoint are very helpful in removing the sand from the gears," said Alan Gayle, senior investment strategist at RidgeWorth Investments. "That is going to be good for the financials."

Shares of the country's largest banks, which have been pounded in recent weeks over concerns about their ability to weather the crisis, soared on Monday. Citigroup Inc. jumped 19.5 percent, and Bank of America Corp. added 26 percent.

Even banks seen as being on better footing posted big advances. JPMorgan Chase & Co. rose 25 percent, while Wells Fargo & Co. rose 24 percent.

According to preliminary calculations, the Dow rose 497.48, or 6.8 percent, to 7,775.86, its highest finish since Feb. 13. It was the biggest point gain for the blue chips since Nov. 13 when they rose 552 points and the biggest percentage gain since Oct. 28. when they rose 10.9 percent.

Broader stock indicators also surged. The Standard & Poor's 500 index rose 54.38, or 7.1 percent, to 822.92, crossing the psychological milepost of 800. The Nasdaq composite index rose 98.50, or 6.8 percent, to 1,555.77.

The Russell 2000 index of smaller companies rose 33.61, or 8.4 percent, to 433.72.

More than 10 stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.9 billion shares.

The Dow is now up 1,228 points, or 18.8 percent, from March 9, when it finished at its lowest point in nearly 12 years. The S&P 500 is up 21.6 percent in that time. Still, the Dow and the S&P 500 index are still down more than 45 percent from their peak in October 2007.

Dunigan said the skeptical tone has blanketed Wall Street since the fall has eased since the market began its rally on March 10.

Investors welcomed the rise in home sales Monday although the biggest jump in nearly six years came as first-time buyers pounced on deep discounts of foreclosures and other distressed properties. Analysts say it could be a nascent sign of recovery. But only weeks ago traders might have dwelled on the 15.5 percent drop in median prices.

"It's like putting on a different pair of glasses and you think you saw something different today than you saw yesterday," Dunigan said.

Bond prices were mixed as stocks rose. The moves were moderate as investors remained mindful of the Federal Reserve's plan announced last week to buy government debt to help drive down borrowing costs by reducing interest rates.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.68 percent from 2.64 percent late Friday. The yield on the three-month T-bill was flat at 0.19 percent.

Oil rose $1.73 to settle at $53.80 a barrel and the dollar was mixed against other major currencies. Gold fell. The price of gold has risen in recent weeks as investors have worried about the faltering economy and a weaker dollar.

Homebuilders extended an early rise after the home sales report. KBR Inc. rose 79 cents, or 5.7 percent, to $14.62, while Toll Brothers Inc. rose $1.84, or 10.8 percent, to $18.84. Hovnanian Enterprises Inc. jumped 30 cents, or 25 percent, to $1.48.

Overseas, Britain's FTSE 100 rose 2.9 percent. Germany's DAX index rose 2.7 percent, and France's CAC-40 rose 2.8 percent. Japan's Nikkei stock average rose 3.4 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The last hour again!!!!*

A stock drop is never reassuring -- except when it could have been worse.

The Dow Jones industrial average shed 115 points, or 1.5 percent Tuesday. But it also held on to 382 of the 498 points it racked up a day earlier.

Anyone with a 401(k) would have liked to see the rally continue. Market analysts said, though, that a pullback was expected given the massive gains Wall Street logged the day before when the government released plans to remove bad loans from banks' books.

*The NYSE DOW closed LOWER -115.65	points -1.49% on Tuesday March 24*
Sym Last........ ........Change..........
Dow	7,660.21	-115.65	-1.49%
Nasdaq	1,516.52	-39.25	-2.52%
S&P 500	806.25	-16.67	-2.03%
30-yr Bond	3.6060%	-0.0870

NYSE Volume	7,902,656,000 (prior day 8,939,830,000)
Nasdaq Volume	2,032,304,000 (prior day 2,281,883,750)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,911.46	-41.35	-1.05%
DAX	4,187.36	+10.99	+0.26%
CAC 40	2,874.39	+4.82	+0.17%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,488.30	+272.77	+3.32%
Hang Seng	13,910.34	+462.92	+3.44%
Straits Times	1,706.34	+42.26	+2.54%

http://finance.yahoo.com/news/Wall-Street-gives-up-some-apf-14734343.html

*Wall Street gives up some ground after huge gains*

*Stocks give back some gains after market surge as investors pause for more gauges of economy*

    * Madlen Read and Tim Paradis, AP Business Writers
    * Tuesday March 24, 2009, 6:02 pm EDT

NEW YORK (AP) -- A stock drop is never reassuring -- except when it could have been worse.

The Dow Jones industrial average shed 115 points, or 1.5 percent Tuesday. But it also held on to 382 of the 498 points it racked up a day earlier.

Anyone with a 401(k) would have liked to see the rally continue. Market analysts said, though, that a pullback was expected given the massive gains Wall Street logged the day before when the government released plans to remove bad loans from banks' books.

"We'll take that trading pattern any time," said Arthur Hogan, chief market analyst at Jefferies & Co. He said he came into work anticipating the Dow to drop as much as 2 percent Tuesday after the index jumped 6.8 percent Monday -- its biggest gain since late October.

The Dow was up more than 1,200 points after hitting nearly 12-year lows on March 9, and there was little in a way of positive economic or corporate data Tuesday to lift stocks further.

If Wall Street gets more good news, stocks could resume their rise. But if it doesn't, the rest of Monday's rally, and then some, could be wiped out. Investors have been cautious, recalling the 20 percent rise between late November and January that fizzled, with stocks then tumbling to new lows on fears about the economy and banking system.

Later this week, some big economic reports are scheduled to come out: durable goods for February, a revised fourth-quarter gross domestic product number, and personal income and spending for February. And next month, first-quarter earnings reports start pouring in.

Thomas J. Lee, a stock market analyst at JPMorgan, said the market's ability to hang on to most of its rally was encouraging. But, he added, "This has definitely been a show-me market."

The Dow fell 115.89, or 1.5 percent, to 7,659.97. The index fell in early trading, rose briefly in afternoon trading, and then turned lower again.

Broader stock indicators also tumbled. The Standard & Poor's 500 index fell 16.57, or 2 percent, to 806.35, and the Nasdaq fell 39.25, or 2.5 percent, to 1,516.52.

Before the market's retrenchment Tuesday, stocks had spiked about 20 percent over the course of 10 days on actions out of Washington and nascent signs of economic renewal.

Recent reports on retail sales, housing starts and inflation have all topped traders' bleak expectations. Last week, the Fed said it would buy long-term government debt to help drive down interest rates for home loans and credit cards. And the government sparked new hopes for further improvement Monday after it detailed plans for a mix of taxpayer and private money to help banks get rid of up to $1 trillion in bad loans from their books.

Investors again looked to Washington for direction on Tuesday, but got few additional details.

Federal Reserve Chairman Ben Bernanke and Treasury Secretary Timothy Geithner made a rare joint appearance at a congressional hearing to testify over bonuses at American International Group Inc. Geithner called on Congress to provide him with greater power to safely dismantle big financial companies like AIG that pose risks to the economy.

The bulk of Tuesday's market retreat was in financial stocks -- the companies that have been rising the most recently.

Citigroup Inc. fell 3.5 percent Tuesday; Bank of America Corp. fell 7.2 percent; JPMorgan Chase & Co. fell 8.6 percent; and American Express Co. fell 3.8 percent. These four Dow components had surged on Monday.

The problems in the overall economy are bad for banks: The unemployment rate sits at 8.1 percent, the highest level since the punishing recession of the early 1980s. And housing prices continue to fall, putting more homeowners at risk of owing more on their homes than they are worth. Rising numbers of people out of work or behind on mortgages could further imperil bank assets.

It also won't be easy to wean the economy from a diet of excessive debt. Some businesses and consumers are struggling to pay down what they owe. They're cutting spending, which is hurting other parts of the economy.

Phil Orlando, chief equity market strategist at Federated Investors in New York, said many traders are pleased by the government's plan to help banks but said that signs of an improving economy will be needed for the market to hold its gains. He said nagging worries about big problems like unemployment could shake investors.

"We are treating this cautiously as we recognize that there are still some storm clouds on the horizon," Orlando said.

The Russell 2000 index of smaller companies fell 16.94, or 3.9 percent, to 416.78.

About two stocks rose for every one that fell on the New York Stock Exchange, where consolidatedvolume came to 6.65 billion shares, down from Monday's nearly 7.5 billion.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.71 percent from 2.68 percent late Monday.

The dollar was mostly higher against other major currencies, while gold prices fell.

Oil gained 18 cents to settle at $53.98 a barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 fell 1 percent, Germany's DAX index rose 0.3 percent, and France's CAC-40 rose 0.2 percent. Japan's Nikkei stock average rose 3.3 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The last hour again!!!!

This time, it was the consumer who had Wall Street rallying.

Better-than-expected earnings from big consumer brands Best Buy, ConAgra Foods Inc. and Dr Pepper Snapple Group Inc. sent the Dow Jones industrial average up 174 points Thursday to its highest level in six weeks. It has surged 21 percent since hitting a nearly 12-year low on March 9. And the technology-dominated Nasdaq composite index is now up 0.63 percent for 2009.

Strong demand for government debt at the Treasury Department's latest auction also lifted stocks by helping investors set aside recent nervousness about the government's ability to fund its economic stimulus and financial bailout programs.

*The NYSE DOW closed HIGHER +174.75	points +2.25% on Wednesday March 25*
Sym Last........ ........Change..........
Dow	7,924.56	+174.75	+2.25%
Nasdaq	1,587.00	+58.05	+3.80%
S&P 500	832.86	+18.98	+2.33%
30-yr Bond	3.6510%	-0.0660

NYSE Volume	8,229,351,500 (prior day 7,902,656,000)
Nasdaq Volume	2,634,340,250 (prior day 2,032,304,000(


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,925.20	+24.95	+0.64%
DAX	4,259.37	+36.08	+0.85%
CAC 40	2,892.07	-1.38	-0.05%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,636.33	+156.34	+1.84%
Hang Seng	14,108.98	+486.87	+3.57%
Straits Times	1,758.79	+67.11	+3.97%

http://finance.yahoo.com/news/Dow-hits-6week-high-on-relief-apf-14760349.html

*Dow hits 6-week high on relief over earnings

Dow, S&P rise more than 2 percent after upbeat corporate results, relief over Treasury auction*

    * Tim Paradis and Madlen Read, AP Business Writers
    * Thursday March 26, 2009, 6:00 pm EDT

NEW YORK (AP) -- This time, it was the consumer who had Wall Street rallying.

Better-than-expected earnings from big consumer brands Best Buy, ConAgra Foods Inc. and Dr Pepper Snapple Group Inc. sent the Dow Jones industrial average up 174 points Thursday to its highest level in six weeks. It has surged 21 percent since hitting a nearly 12-year low on March 9. And the technology-dominated Nasdaq composite index is now up 0.63 percent for 2009.

Strong demand for government debt at the Treasury Department's latest auction also lifted stocks by helping investors set aside recent nervousness about the government's ability to fund its economic stimulus and financial bailout programs.

Nearly every day over the past three weeks has seemed to bring morsels of good news -- first from the stricken banking sector and then in the form of stronger-than-expected economic data. But Thursday, solid reports from companies selling to the consumer came as a relief to investors anxious about first-quarter earnings, which start pouring in next month.

The advance technically put the Dow in bull market territory; a bull market is defined as a 20 percent rise from a low point. But analysts are still hesitant to call the end of the bear market -- there is a phenomenon known as a bear market rally that can quickly collapse in an uncertain economic environment.

Kevin Kramer, chief operating officer at West End Financial Advisors, an asset management company in New York, said unemployment, limited access to credit and heavy loads of debt are likely to keep curbing economic growth, and that may curtail stocks' advance.

"Just because things aren't getting worse doesn't mean they're getting better," Kramer said. "You stopped the flow of blood out of my body, but it doesn't mean I'm going to survive."

But with the end of the first quarter quickly approaching, money managers are fearful of missing out on the recent rally, the magnitude of which usually occurs over the course of many years.

David Waddell, senior investment strategist and chief executive of Waddell & Associates, said he has seen some "seller's remorse" among his clients who sold stocks too low in the first two months of the year. That can move people back into buying mode.

"One thing that many people are beginning to believe is that the market is going to bottom in 2009," Waddell said.

The Dow jumped 174.75, or 2.3 percent, at 7,924.56, its highest close since Feb. 12. It remains down 9.7 percent for the year, however, and down 44 percent from its record close of 14,164.53 in October 2007.

Broader stock indicators also gained. The Standard & Poor's 500 index rose 18.98, or 2.3 percent, to 832.86, and the Nasdaq rose 58.05, or 3.8 percent, to 1,587.00.

The Russell 2000 index of smaller companies rose 18.78, or 4.4 percent, to 445.30.

About four stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.8 billion shares.

Bond prices jumped after Thursday's auction. The yield on the benchmark 10-year Treasury note, which moves opposite to its price, fell to 2.76 percent from 2.79 percent late Wednesday. The yield on the three-month T-bill slipped to 0.14 percent from 0.15 percent.

The dollar rose against other major currencies. Gold prices rose modestly.

Oil reached a new high for the year, settling up $1.58 at $54.34 a barrel on the New York Mercantile Exchange.

Best Buy, the world's largest consumer electronics retailer, said its fiscal fourth-quarter earnings fell 23 percent as it booked some one-time expenses. Stripping out those costs, results beat analysts' estimates as the world's largest consumer electronics retailer opened more stores, helping to boost sales. Best Buy rose $4.21, or 12.6 percent, to $37.67.

ConAgra, which owns the Healthy Choice and Peter Pan food brands, posted results that topped Wall Street's expectations as people go out to eat less and cook more meals at home. The company also stood by its earnings forecast for the year. ConAgra shares rose $1.43, or 9.2 percent, to $16.99.

Dr Pepper Snapple Group Inc. also came in ahead of Wall Street forecasts. The company, which sells drinks such as A&W, Squirt and Hawaiian Punch, $621 million in the fourth quarter as it wrote down assets and spent heavily on restructuring and severance. But its adjusted profit was better than analysts expected. The stock rose $2.36, or 15.2 percent, to $17.87.

Meanwhile, government data indicated that the economy is still in decline, but at a less devastating pace than feared.

The number of workers seeking unemployment benefits rose to a seasonally adjusted 652,000 from the previous week's revised figure of 644,000, the Labor Department said. But the gain was smaller than anticipated.

The Commerce Department said the nation's gross domestic product shrank at a 6.3 percent pace in the fourth quarter. That was a bigger drop than the government previously estimated, but not as severe as analysts predicted.

Overseas, Japan's Nikkei stock average rose 1.8 percent. Britain's FTSE 100 rose 0.6 percent, Germany's DAX index rose 0.9 percent, and France's CAC-40 fell less than 0.1 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

-- The Dow is up 17.3 percent in the last three weeks, its best gain since September 1982 and its longest string of advances since May last year. It's also still up 10 percent for the month; the last time the Dow gained at least 10 percent in a month was in October 2002.

-- The S&P 500 has soared 20.6 percent over the past 14 trading days, its best run over that length of time since 1938.

For the week, the Dow is up more than 6.8 percent. The S&P 500 is up 6.2 percent and the Nasdaq is up 6 percent.

Caution reasserted itself on Wall Street, sending stocks down sharply but not enough to stop the market from notching its third straight weekly advance.

Major indexes fell about 2 percent Friday, but most analysts agreed the pullback was a natural response to the market's powerful climb this month. Financial and technology stocks led the retreat, and energy shares fell along with the price of oil.

A dip in personal incomes and a slowdown in personal spending gave investors reason to cash in some of their winnings after the Dow Jones industrial average surged 21 percent over just 13 days. Analysts said the sentiment in the market was still more upbeat than it was a month ago, but the data were a reminder that the economy and the banking system remain troubled.

*The NYSE DOW closed LOWER -148.38	 points -1.87% on Friday March 27*
Sym Last........ ........Change..........
Dow	7,776.18	-148.38	-1.87%
Nasdaq	1,545.20	-41.80	-2.63%
S&P 500	815.94	-16.92	-2.03%
30-yr Bond	3.6180%	-0.0330

NYSE Volume	6,563,555,500 (prior day 8,229,351,500)
Nasdaq Volume	2,123,108,000 (prior day 2,634,340,250


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,898.85	-26.35	-0.67%
DAX	4,203.55	-55.82	-1.31%
CAC 40	2,840.62	-51.45	-1.78%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,626.97	-9.36	-0.11%
Hang Seng	14,119.50	+10.52	+0.07%
Straits Times	1,745.66	-13.13	-0.75%

http://finance.yahoo.com/news/Investors-cash-in-some-gains-apf-14772679.html

*Investors cash in some gains from big rally*

*Wall Street puts enormous rally on hold after lackluster economic readings; Dow falls 148*

    * Tim Paradis and Sara Lepro, AP Business Writers
    * Friday March 27, 2009, 6:13 pm EDT

NEW YORK (AP) -- Caution reasserted itself on Wall Street, sending stocks down sharply but not enough to stop the market from notching its third straight weekly advance.

Major indexes fell about 2 percent Friday, but most analysts agreed the pullback was a natural response to the market's powerful climb this month. Financial and technology stocks led the retreat, and energy shares fell along with the price of oil.

A dip in personal incomes and a slowdown in personal spending gave investors reason to cash in some of their winnings after the Dow Jones industrial average surged 21 percent over just 13 days. Analysts said the sentiment in the market was still more upbeat than it was a month ago, but the data were a reminder that the economy and the banking system remain troubled.

"There is still a definite caution in the air," said Doreen Mogavero, president of Mogavero, Lee & Co., a New York floor brokerage, adding that she's noted some hesitance among her clients. "I don't think people are completely invested yet."

Mogavero noted that the money that has gone into the market over the last few weeks has been "short-term" in nature, which leads her to believe that most people are not convinced that the economy will soon recover.

The market has been ratcheting up and down over the past week. Analysts weren't surprised by its retrenchments, including Friday's, because no one expects such a weak market to move consistently higher. And many analysts believe back-and-forth trading is actually a healthy way for stocks to recover, because it reflects a conservative rather than euphoric attitude among investors.

"I wouldn't read too much into a down Friday," said Sam Stovall, chief investment strategist, U.S. equity research at Standard & Poor's. "It's simply investors taking profits."

Still, it was too early to tell whether the big March advance might go the way of Wall Street's year-end rally, which was more than wiped out in January and February. Although the gains of the past three weeks have been based on early signs of improvement in the banking system and the economy, those advances are vulnerable to critical economic data due next week and first-quarter earnings reports that will begin in a few weeks.

The Dow fell 148.38, or 1.9 percent, to 7,776.18.

The Standard & Poor's 500 index fell 16.92, or 2 percent, to 815.94 and the Nasdaq composite index dropped 41.80, or 2.6 percent, to 1,545.20.

Despite the decline, the indexes are still looking much better than they did a month ago:

-- The Dow is up 17.3 percent in the last three weeks, its best gain since September 1982 and its longest string of advances since May last year. It's also still up 10 percent for the month; the last time the Dow gained at least 10 percent in a month was in October 2002.

-- The S&P 500 has soared 20.6 percent over the past 14 trading days, its best run over that length of time since 1938.

For the week, the Dow is up more than 6.8 percent. The S&P 500 is up 6.2 percent and the Nasdaq is up 6 percent.

The Dow Jones Wilshire 5000 index, which reflects nearly all stocks traded in America, ended the week up 6.2 percent. That's a paper gain of about $600 billion.

Still, the market has a very long way to go before it can be considered to be recovering. The Dow is down 6,388.35, or 45.1 percent, from its record close of 14,164.53 reached Oct. 9, 2007

The economic reports due next week include the March employment report on Friday. Although the report is likely to show more job losses, analysts believe the market can keep rising if there are other data showing the economy is improving or at the very least stabilizing.

"While the employment report is key," said Stuart Schweitzer, global markets strategist at J.P. Morgan Private Bank, "company earnings announcements will shed light on where we go from here because they will tell us how much more restraint companies may need to show in the future."

On Friday, the Commerce Department said personal spending rose 0.2 percent in February, as expected, down from a 1 percent gain in January. Personal incomes fell 0.2 percent.

Disappointing announcements sapped strength from technology companies. Tech stocks had surged Thursday and briefly pushed the Nasdaq into positive territory for the year.

Internet powerhouse Google said it is laying off nearly 200 workers, and technology consulting and outsourcing firm Accenture lowered its forecast for the quarter and the year. Google fell $5.59 to $347.70, while Accenture dropped $4.30, or 13.5 percent, to $27.66.

Financial companies were mainly weak too, after President Barack Obama met with the chief executives of the nation's largest banks. Obama and Treasury Secretary Timothy Geithner are preparing to launch a partnership with private investors to buy banks' toxic assets.

Citigroup Inc. dropped 19 cents, or 6.8 percent, to $2.62, while JPMorgan Chase & Co. fell $1.70, or 5.8 percent, to $27.40.

Mike Stanfield, chief executive of VSR Financial Services, an Overland Park, Kan.-based securities broker-dealer, has been telling investors to shift into large-cap growth stocks and energy ahead of an economic rebound. Still, he remains cautious.

"We're not encouraging anyone to go all in," he said. Stanfield is telling investors to return to a more traditional mix of stocks and bonds.

Other market stats Friday:

-- The Russell 2000 index of smaller companies fell 16.30, or 3.7 percent, to 429.00.

-- For every advancing stock there were about three that fell on the New York Stock Exchange. Consolidated volume came to 5.48 billion shares, compared with 6.84 on Thursday.

-- The dollar was mixed against other major currencies, while gold prices fell.

Government bonds fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.76 percent from 2.74 percent.

-- Crude oil fell $1.96 to settle at $52.38 a barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 fell 0.7 percent, Germany's DAX index fell 1.3 percent, and France's CAC-40 fell 1.8 percent. Japan's Nikkei stock average fell 0.1 percent.

The Dow Jones industrial average closed the week up 497.80, or 6.8 percent, at 7,776.18. The Standard & Poor's 500 index rose 47.40, or 6.2 percent, to 815.94. The Nasdaq composite index rose 87.93, or 6 percent, closing at 1,545.20.

The Russell 2000 index, which tracks the performance of small company stocks, rose 29.89, or 7.2 percent, to 429.00.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended at 8,286.84, up 485.49, or 6.2 percent, for the week. A year ago, the index was at 13,363.84.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street's March rally is on hold after the White House rejected turnaround plans from General Motors Corp. and Chrysler and gave investors an economic reality check.

Major indexes fell about 3 percent Monday, including the Dow Jones industrial average, which lost about 254 points but finished well off its lows. Financial stocks weighed heavily on the market amid worries that banks will need fresh injections of capital.

Fears of an automaker bankruptcy have been looming over investors for months, and the latest developments, which included the removal of GM's CEO Rick Wagoner, made the market uneasy not only about the industry, but the overall economy. However, analysts said the pullback, which began with a 148-point drop in the Dow Friday, wasn't surprising after the average surged 21 percent over just 13 days.


*The NYSE DOW closed LOWER -254.16 points	-3.27% on Monday March 30*
Sym Last........ ........Change..........
Dow	7,522.02	-254.16	-3.27%
Nasdaq	1,501.80	-43.40	-2.81%
S&P 500	787.53	-28.41	-3.48%
30-yr Bond	3.6020%	-0.0160

NYSE Volume	6,941,320,500 (prior day 6,563,555,500)
Nasdaq Volume	2,086,345,120 (prior day 2,123,108,000)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,762.91	-135.94	-3.49%
DAX	3,989.23	-214.32	-5.10%
CAC 40	2,719.34	-121.28	-4.27%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,236.08	-390.89	-4.53%
Hang Seng	13,456.33	-663.17	-4.70%
Straits Times	1,673.14	-72.52	-4.15%

http://finance.yahoo.com/news/Stocks-tumble-as-automaker-apf-14789357.html
*Stocks tumble as automaker plans are rejected

Wall Street retreats after three-week rally on auto, financial industry woes; Dow falls 254*

    * Sara Lepro and Tim Paradis, AP Business Writers
    * Monday March 30, 2009, 5:46 pm EDT

NEW YORK (AP) -- Wall Street's March rally is on hold after the White House rejected turnaround plans from General Motors Corp. and Chrysler and gave investors an economic reality check.

Major indexes fell about 3 percent Monday, including the Dow Jones industrial average, which lost about 254 points but finished well off its lows. Financial stocks weighed heavily on the market amid worries that banks will need fresh injections of capital.

Fears of an automaker bankruptcy have been looming over investors for months, and the latest developments, which included the removal of GM's CEO Rick Wagoner, made the market uneasy not only about the industry, but the overall economy. However, analysts said the pullback, which began with a 148-point drop in the Dow Friday, wasn't surprising after the average surged 21 percent over just 13 days.

"The market had a very significant rally off the lows," said David Katz, chief investment officer at Matrix Asset Advisors. "We think it's just taking a breather."

The Dow tumbled 254.16, or 3.3 percent, to 7,522.02. It was down as much as 339 points, so the market's ability to pull abve its lows on light trading volume could signal that investors aren't ready to give up on the rally.

The Standard & Poor's 500 index fell 28.41, or 3.5 percent, to 787.53, while the Nasdaq composite index fell 43.40, or 2.8 percent, to 1,510.80.

Despite the two-day retreat, the Dow is still up 975 points, or 14.9 percent, from its low on March 9, when it ended at its worst levels since April 1997. The S&P 500 index is still up 16.4 percent from its low.

The March rally was fed by economic and corporate reports that were starting to look more encouraging. Now, investors are taking money out of the market ahead of economic numbers this week and first-quarter earnings in the weeks ahead, fearing that disappointing data, including the government's March employment report on Friday, will set the market back.

Problems still facing automakers and banks gave investors more incentive to sell.

President Barack Obama refused further long-term federal bailouts for GM and Chrysler, saying the companies needed to get more concessions from unions, creditors and others before the money could be approved. He also raised the possibility of controlled bankruptcy for one or both of the companies.

"It was a pretty sharp reminder that there are some difficulties here," said Matt King, chief investment officer at Bell Investment Advisors.

Underscoring the fear that the financial industry's troubles are far from over, Treasury Secretary Timothy Geithner said Sunday banks would likely need considerably more money. Also over the weekend, Spain was forced to bail out a bank for the first time since the financial crisis began. The Bank of Spain took control of a small savings bank and provided $12 billion in government funds to support it.

Banks were a driving force behind the market's rally in March and analysts now expect those shares to see some of the biggest declines as investors become more conservative ahead of the first-quarter earnings reports in the next few weeks. Bank of America Corp. fell 17.8 percent Monday and Citigroup fell 11.8 percent.

Many market watchers had called the recent upturn a bear market rally, or a temporary advance within a bear market, which is defined as a 20 percent drop from a peak level. Bear market rallies can easily come crashing down; that was the fate of the yearend 2008 rally that was more than wiped out during the first quarter.

With the economy still deeply troubled, some analysts say Wall Street may have gotten ahead of itself.

"I think we had a huge run up ... that was not really justified," said Peter Jankovskis, co-chief investment officer at OakBrook investments. "There are a lot of negatives right now on the horizon."

Bank stocks had rallied on the hope that their first-quarter performance would be better than expected. But Friday, the heads of JPMorgan Chase & Co. and Bank of America Corp. diminished some of those hopes when they said March has not been as good for business as the first two months of the year.

"It's just prudent to take profits nowadays," said Ron Weiner, president and chief executive of Westport, Conn.-based investment advisory firm RDM Financial, who recently took half of his money out of a financial-based exchange-traded fund. "You have to mix up cash with alternatives that act opposite from the market."

Bank of America dropped $1.31, or 17.9 percent, to $6.03. Citigroup Inc. shed 31 cents, or 11.8 percent, to $2.31.

GM plunged 92 cents, or 25.4 percent, to $2.70. Chrysler is not publicly traded.

Investors are also awaiting Thursday's meeting in London of G-20 leaders of industrialized and developing countries. The group is expected to increase financial regulation, but investors' hopes for a coordinated fiscal boost are waning. The Financial Times, citing a draft of the meeting's communique, reported there are no specific plans for a fiscal stimulus package.

In other market moves, the Russell 2000 index of smaller companies dropped 13.03, or 3 percent, to 415.97.

About seven stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 5.8 billion shares, up from 5.48 billion on Friday.

Bond prices mostly rose as stocks fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.72 percent from 2.76 percent late Friday. The yield on the three-month T-bill was at 0.18 percent, up from 0.12 percent Friday.

Crude oil tumbled $3.97, or 7.6 percent, to settle at $47.99 a barrel on the New York Mercantile Exchange.

The dollar was higher against other major currencies. Gold prices slipped.

Overseas, Britain's FTSE 100 fell 3.1 percent, Germany's DAX index fell 5 percent, and France's CAC-40 fell 4.3 percent. Japan's Nikkei stock average fell 4.53 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The day would have been even better except for the last hour!!*

Wall Street ended a tumultuous March on a high note, managing its first winning month this year and its best monthly performance in nearly seven years.

Stocks finished off their earlier highs on Tuesday but resumed a three-week rally that has brought the Dow Jones industrials up a total of 16 percent since hitting their lowest level in 12 years on March 9.

The Dow rose 7.7 percent overall in March, its biggest monthly gain since October 2002.

*The NYSE DOW closed HIGHER +86.90	points +1.16% on Tuesday March 31*
Sym Last........ ........Change..........
Dow	7,608.92	+86.90	+1.16%
Nasdaq	1,528.59	+26.79	+1.78%
S&P 500	797.87	+10.34	+1.31%
30-yr Bond	3.5610%	-0.0410

NYSE Volume	7,079,117,000 (prior day 6,941,320,500)
Nasdaq Volume	2,218,767,500 (prior day 2,086,345,120)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,926.14	+163.23	+4.34%
DAX	4,084.76	+95.53	+2.39%
CAC 40	2,807.34	+88.00	+3.24%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,109.53	-126.55	-1.54%
Hang Seng	13,576.02	+119.69	+0.89%
Straits Times	1,702.76	+29.62	+1.77%

http://finance.yahoo.com/news/Wall-Street-rebounds-on-last-apf-14805231.html
*Wall Street rebounds on last day of the quarter

Technology, financial sectors lead rebound on Wall Street on last day of quarter*

    * Sara Lepro, AP Business Writers
    * Tuesday March 31, 2009, 5:04 pm EDT

NEW YORK (AP) -- Wall Street ended a tumultuous March on a high note, managing its first winning month this year and its best monthly performance in nearly seven years.

Stocks finished off their earlier highs on Tuesday but resumed a three-week rally that has brought the Dow Jones industrials up a total of 16 percent since hitting their lowest level in 12 years on March 9.

The Dow rose 7.7 percent overall in March, its biggest monthly gain since October 2002.

Technology and financial shares led the rally as large investors loaded up on rising stocks in order to report strong holdings at the end of the first quarter, which ended on Tuesday.

Investors shrugged off lackluster economic data and snatched up some of the biggest names in technology and banking including Google Inc., International Business Machines Corp., Bank of America Corp. and Citigroup Inc.

The market is coming off a two-day pullback as stocks took a breather from a recent surge driven by optimism that U.S. banks may be emerging from the worst of a lending crisis.

The government finally delivered details last week of its plans to take failed loans off the books of struggling banks and leaders of several large banks have said they did well in January and February.

Financial services companies are likely to get another dose of good news later this week. The Financial Accounting Standards Board is widely expected to ease accounting rules that require companies to list their assets at current market values.

Banks have had to take massive write-downs over the past two years as the value of mortgage-backed securities and other investments has withered. Banks say a softening of the "mark-to-market" rules would help their bottom lines.

Keith Wirtz, president and chief investment officer at Fifth Third Asset Management in Cincinnati, said the gain in bank stocks on Tuesday was likely boosted by some short-covering in anticipation of a resolution on the rules, as traders don't want to miss out on a possible rally in financials later this week. Short covering, or the buying of stocks to cover bets that stocks would fall, has played a large role in the surge in bank stocks over the past few weeks.

According to preliminary calculations, the Dow Jones industrial average rose 86.90, or 1.2 percent, to 7,608.92, after earlier rising as much as 203 points. The Standard & Poor's 500 index gained 10.34, or 1.3 percent, to 797.87, while the technology-heavy Nasdaq composite index rose 26.79, or 1.8 percent, to 1,528.59.

The Dow, which broke a string of six monthly declines, is still down 13.3 percent for the year. The S&P 500 is down 11.7 percent, and the Nasdaq is down 3.1 percent.

In other trading Tuesday, the Russell 2000 index of smaller companies rose 6.78, or 1.6 percent, to 422.75.

Advancing issues outnumbered decliners by more than 3 to 1 on the New York Stock Exchange, where volume came to 1.64 billion shares.

The advance on Tuesday was also supported by "window dressing" buying as large investors not wanting to end the quarter with large amounts of cash loaded up on stocks they think have good prospects.

"Technology, of all the S&P sectors, is the only one that is up on the year," said Craig Peckham, an analyst at Jefferies & Co. "If you're going to try to window dress anywhere on the last day of the quarter, technology is a good place to start."

Technology shares got a lift Tuesday from a deal between The Walt Disney Co. and Google that will allow Google's video site YouTube to show short-form videos from Disney's ABC and ESPN networks. Disney shares rose 31 cents to $18.64, while Google gained $5.37 to $348.06.

Lincoln National Corp. rose 4.4 percent, pulling other life insurance stocks up as well, after saying it would pay off a debt coming due soon, assuaging concerns about the company's financial position.

Investors have been worried about insurance stocks since their investment portfolios have suffered so much with the market downturn, which has brought stocks down by about half from their peak in October 2007. Lincoln rose 28 cents to $6.69, after tumbling 38 percent on Monday.

Investors looked past a number of economic reports, including the S&P Case-Shiller index of 20 cities, which showed that U.S. home prices declined by a record 19 percent in January from a year ago. Separately, a measure of consumer confidence inched up in March after plummeting to historic lows in February.

The market has been in bear territory, defined as a 20 percent drop from a high, since the fall of 2007. There has been heated debate about whether the market has finally reached a bottom after stocks hit new 12-year lows on March 9 and rallied sharply since.

The major indexes had dropped about 3 percent Monday as the White House rejected General Motors Corp.'s and Chrysler's turnaround plans, raising the possibility of an automaker bankruptcy. The administration also replaced GM's CEO Rick Wagoner with the company's chief financial officer, Fritz Henderson. In his first press conference as CEO on Tuesday, Henderson said more plant closures are likely as the company works to avoid bankruptcy.

GM shares dropped 76 cents, or 28 percent, to $1.94, after falling 25 percent on Monday.

Bond prices were mixed. The yield on the 10-year Treasury note fell to 2.67 percent from 2.72 percent late Monday. The yield on the three-month T-bill rose to 0.21 percent from 0.18 percent Monday.

Crude oil rose $1.25 to settle at $49.66 a barrel.

The dollar was lower against other major currencies. Gold prices rose.

Overseas, Britain's FTSE 100 rose 4.3 percent, Germany's DAX index rose 2.4 percent, and France's CAC-40 rose 3.2 percent. Japan's Nikkei stock average fell 1.5 percent.


----------



## bigdog

*Tonights NYSE looks like being very good!*

*Europe @ mid afternoon*
Symbol... Last...... .....Change.......
FTSE 100	4,062.69	+107.08	+2.71%
DAX	4,309.24	+178.17	+4.31%
CAC 40	2,932.95	+93.34	+3.29%

*Asia at close today*
Symbol..... Last...... .....Change.......
Nikkei 225	8,719.78	+367.87	+4.40%
Hang Seng	14,521.97	+1,002.43	+7.41%
Straits Times	1,803.34	+101.08	+5.94%

http://finance.yahoo.com/news/World-markets-surge-as-US-apf-14826701.html

*World markets surge as US data boost recovery hope

World stock markets surge as US data boost hopes of recovery and G-20 leaders meet in London*

    * Louise Watt, Associated Press Writer
    * Thursday April 2, 2009, 8:30 am EDT

LONDON (AP) -- World stocks soared Thursday as stronger-than-expected U.S. economic figures boosted confidence that the world's largest economy is on the mend. A mood of optimism also pervaded markets as leaders of the world's 20 top rich and developing countries met in London to find a way out of the economic crisis.

Huge gains in Asia and strong buying in Europe followed an overnight surge on Wall Street and extended last month's rebound amid tentative signs of stabilization in the hard-hit global economy and banking industry.

In European afternoon trading, Britain's FTSE 100 rose 2.7 percent to 4,061.04, Germany's DAX surged 4.2 percent to 4,302.57 and France's CAC 40 jumped 3.7 percent to 2,943.15.

Wall Street was gearing up for another jump. Dow Jones Industrial Average futures rose 1.5 percent to 7,837, Standard & Poor's 500 index futures added 1.7 percent to 822.90, and Nasdaq 100 index futures climbed 1.7 percent to 1,272.25.

Investors were enthusiastic about reports that the London summit had agreed to financial regulatory changes and increased funding for the International Monetary Fund.

"There's some renewed optimism around the G-20 meeting today and the possibility there might be something structured coming out of it," said Richard Hunter, analyst at Hargreaves Lansdown Stockbrokers.

President Barack Obama and the summit host, British Prime Minister Gordon Brown, have expressed confidence that world leaders will come up with a strong agreement to address financial regulation, growth, and troubled banks. But French President Nicolas Sarkozy and German Chancellor Angela Merkel have refused calls for more government spending, and said the meeting must take concrete steps on tougher financial regulation.

Meanwhile, the European Central Bank lowered its benchmark interest rate by a quarter percentage point to a record low of 1.25 percent in an effort to alleviate the economic downturn plaguing the 16 countries that use the euro. Markets will be watching comments from ECB President Jean-Claude Trichet at a news conference later in the day, when he will explain the bank's decision and possibly hint at alternative measures to stimulate growth.

In Europe and Asia, financial and auto stocks charged higher after U.S. home sales, manufacturing and auto data suggested the U.S. recession may be moving closer to a bottom.

Car makers Daimler, BMW and Renault jumped 13.1 percent, 12.8 percent and 11.1 percent, and tire maker Michelin added 13.5 percent. In Asia, Toyota Motor Corp. and Nissan Motor Co. strengthened 5.5 percent and 14 percent on U.S. auto figures that were less dismal than feared. Investors were encouraged after U.S. car sales jumped by nearly 25 percent last month from February, beating the typical rise and underpinning hopes of a turnaround in the American auto market.

A rebound in pending U.S. home sales in February from a record low, as well as improving manufacturing activity, added to a growing belief the most severe global downturn in decades may be moving close to a bottom.

Still, the upbeat evidence distracted investors from more sobering news that the U.S. private sector continued to shed hundreds of thousands of jobs last month -- a worrisome sign as investors brace for Friday's report on nationwide job cuts.

With the economic crisis still far from over, analysts warned of more painful market volatility as the recession unfolds.

"We're starting to see some initial signs of green shoots. The question is whether or not this is a sound foundation for stability in the economy," said Song Seng Wun, head of research at CIMB-GK in Singapore. "It's still hard to tell."

In Asia, Japan's Nikkei 225 stock average jumped 4.4 percent to 8,719.78, while Hong Kong's Hang Seng led the region's gains, soaring 7.4 percent to 14,521.97. South Korea's Kospi added 3.5 percent to 1,276.97.

Elsewhere, benchmarks in Australia and Taiwan gained about 3 percent. Singapore jumped 5.3 percent and India's Sensex climbed 4.9 percent.

Sentiment got a lift from overnight gains on Wall Street. The Dow rose 152.68 points, or 2 percent, to 7,761.60, and broader market indicators also rose. The Standard & Poor's 500 index rose 13.21, or 1.7 percent, to 811.08.

Oil rose above $50 a barrel in Europe as investors weighed glimmers of hope in the U.S. economy against concerns that global demand remains weak. Benchmark crude for May delivery rose $2.36 to $50.75 a barrel. The contract fell $1.27 on Wednesday to settle at $48.39.

AP business writer Jeremiah Marquez in Hong Kong contributed to this report.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*An all green day yesterday, but the last hour spoilt an even better day for the Dow!

It should be VG for the ASX today! *

Investors dove into stocks Thursday, extending a rally that gave the Dow Jones industrial average its best four weeks since 1933.

Stocks rose across the board in heavy trading following an accounting rule change that will help banks pare their losses and after commitments from world leaders to toughen regulatory oversight of financial institutions.

The Dow broke through 8,000 for the first time since Feb. 9 but ended slightly below that level ahead of the government's employment report Friday that could easily upset the market if it comes in below forecasts -- or send prices rocketing higher if it's better than expected.

*The NYSE DOW closed HIGHER +216.48 points 	+2.79% on Thursday April 2*
Sym Last........ ........Change..........
Dow	7,978.08	+216.48	+2.79%
Nasdaq	1,602.63	+51.03	+3.29%
S&P 500	834.38	+23.30	+2.87%
30-yr Bond	3.5770%	+0.0830

NYSE Volume	8,913,421,000
Nasdaq Volume	2,858,226,250

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,124.97	+169.36	+4.28%
DAX	4,381.92	+250.85	+6.07%
CAC 40	2,992.06	+152.45	+5.37%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,719.78	+367.87	+4.40%
Hang Seng	14,521.97	+1,002.43	+7.41%
Straits Times	1,803.34	+101.08	+5.94%

*Stocks extend 4-week rally; Dow breaches 8,000

Stocks push rally into 4th week as accounting rules ease and G20 leaders promise reforms*

    * Sara Lepro, AP Business Writer
    * Thursday April 2, 2009, 6:00 pm EDT

NEW YORK (AP) -- Investors dove into stocks Thursday, extending a rally that gave the Dow Jones industrial average its best four weeks since 1933.

Stocks rose across the board in heavy trading following an accounting rule change that will help banks pare their losses and after commitments from world leaders to toughen regulatory oversight of financial institutions.

The Dow broke through 8,000 for the first time since Feb. 9 but ended slightly below that level ahead of the government's employment report Friday that could easily upset the market if it comes in below forecasts -- or send prices rocketing higher if it's better than expected.

The Dow is now up 20.4 percent over the last month, its biggest percentage gain in a four-week period since the spring of 1933. Bits of good news about the economy in recent weeks, including better-than expected-numbers on housing and manufacturing, have given investors more reasons to buy.

The Dow gained 216.48, or 2.8 percent, to close at 7,978.08, after earlier rising as much as 314 points.

"People are worried about this (employment) report, so the last hour we sold off," said Richard Campagna, managing director and chief investment officer of Pasadena, Calif.-based investment manager 300 North Capital.

Broader market indicators also rose sharply. The Standard & Poor's 500 index gained 23.30, or 2.9 percent, to 834.38. The Nasdaq composite index rose 51.03, or 3.3 percent, to 1,602.63.

Industrial and consumer discretionary stocks picked up speed Thursday while demand for safe-haven assets like gold and Treasurys plummeted.

"Everyone is in a buying mood," said Eric Ross, director of research at brokerage Canaccord Adams. "Everyone is feeling good. ... A lot of this is simply confidence."

The market has managed to shrug off some negative data on employment recently such as initial claims for jobless benefits. But a surprisingly bad report on the March job market could easily stifle the market's growing optimism. Economists predict the report will show a loss of 654,000 jobs following a drop of 651,000 jobs in February, which was a record third straight month of job losses above 600,000. The unemployment rate is expected to rise to 8.5 percent from 8.1 percent in February.

Banking shares got a significant boost after a rulemaking body for the accounting industry relaxed financial reporting rules that force banks to value their assets at current market prices.

The change in "mark-to-market" accounting rules, which should help banks reduce losses, sends another lifeline to the troubled financial industry. Many investors believe financial stocks, which have largely carried the market's four-week rally, are a gauge of when the economy is turning.

Among the biggest advancers in the financial industry Thursday were Wells Fargo & Co., which jumped 85 cents, or 5.9 percent, to $15.33, and Goldman Sachs Group Inc., which rose $3.93, or 3.6 percent, to $114.22. Regional banks also rose sharply.

The conclusion of a one-day summit in London of the world's finance ministers sent stocks to their highest levels in early afternoon trading. While the G-20 leaders did not satisfy calls for new stimulus measures, they pledged an additional $1.1 trillion in financing to the International Monetary Fund and declared a crackdown on tax havens and hedge funds.

Another positive indicator on the economy also lifted sentiment on Wall Street. Factory orders posted a large increase in February, coming on the heels of better-than-expected readings on pending home sales, manufacturing activity and auto sales the day before.

In other trading, the Russell 2000 index of smaller companies jumped 21.03, or 4.9 percent, to 450.19.

For every three stocks that fell, nearly nine stocks rose on the New York Stock Exchange where volume came to 1.87 billion shares.

The Dow is still down about 9 percent for the year, while the S&P 500 is down nearly 8 percent. The Nasdaq is up 1.6 percent.

While analysts have warned that the market could retest the lows hit early last month, there's no doubt a growing sense on Wall Street the economy, at least stateside, might be bottoming out.

"The market mindset is: OK, we're not in a tailspin," said Jack A. Ablin, chief investment officer at Harris Private Bank.

The benchmark 10-year Treasury note fell more than 1 point, sending its yield up to 2.79 percent from 2.66 percent late Wednesday. The dollar fell against other major currencies after the European Central Bank cut its key interest rate by less than expected. Gold prices also fell.

Oil prices benefited from the better-than-expected economic news. Light, sweet crude jumped $4.25 to settle at $52.64 a barrel on the New York Mercantile Exchange.

Overseas markets also logged big gains. Japan's Nikkei stock average rose 4.4 percent, while Hong Kong's Hang Seng index jumped 7.4 percent. In Europe, Britain's FTSE 100 rose 4.3 percent, Germany's DAX index rose 6.1 percent, and France's CAC-40 rose 5.4 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average clawed higher to end above 8,000 for the first time in nearly two months, and logged an impressive fourth straight week of gains.

The last time the Dow rose for four consecutive weeks was between September and October of 2007 -- when the index reached its all-time high above 14,000.

The Labor Department's March unemployment report was a big hurdle for the market. The numbers were certainly grim, but not terrible enough to derail an emerging sense of optimism over the past four months that the economy may be beginning to right itself.

*The NYSE DOW closed HIGHER +39.51	points +0.50% on Friday April 3*
Sym Last........ ........Change..........
Dow	8,017.59	+39.51	+0.50%
Nasdaq	1,621.87	+19.24	+1.20%
S&P 500	842.50	+8.12	+0.97%
30-yr Bond	3.7210%	+0.1440

NYSE Volume	6,811,030,000 (prior day 8,913,421,000)
Nasdaq Volume	2,154,506,750 (prior day 2,858,226,250)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,029.67	-95.30	-2.31%
DAX	4,384.99	+3.07	+0.07%
CAC 40	2,958.74	-33.32	-1.11%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,749.84	+30.06	+0.34%
Hang Seng	14,545.69	+23.72	+0.16%
Straits Times	1,820.87	+17.53	+0.97%

http://finance.yahoo.com/news/Dow-closes-over-8000-logs-4th-apf-14847779.html

*Dow closes over 8,000, logs 4th week of gains

Dow closes above 8,000 even as report shows US jobless rate at 25-year high of 8.5 percent*

    * Tim Paradis and Madlen Read, AP Business Writers
    * Friday April 3, 2009, 5:20 pm EDT

The Dow Jones industrial average clawed higher to end above 8,000 for the first time in nearly two months, and logged an impressive fourth straight week of gains.

The last time the Dow rose for four consecutive weeks was between September and October of 2007 -- when the index reached its all-time high above 14,000.

The Labor Department's March unemployment report was a big hurdle for the market. The numbers were certainly grim, but not terrible enough to derail an emerging sense of optimism over the past four months that the economy may be beginning to right itself.

Tom Phillips, president of TS Phillips Investments in Oklahoma City, said the improved tone is helping traders react more moderately to bad news than they might have even a month ago.

"If the expectation was for truly horrendous numbers and they're only ugly, that's a good thing," he said.

Employers slashed a net total of 663,000 jobs last month, only slightly worse than the 654,000 economists expected. The employment rate jumped to 8.5 percent, its highest level since late 1983, when the economy was starting to emerge from a deep recession.

The economy has shed a total of 5.1 million jobs since the recession began in December 2007. Nearly two-thirds of the losses have come in the last five months.

While many investors are looking ahead to an eventual recovery, others say Wall Street might be just as short-sighted now as it was when it was panicking. Potential pitfalls lie ahead not just for the job market, but also in corporate earnings reports and outlooks that start pouring in next week.

According to preliminary calculations, the Dow climbed 39.51, or 0.5 percent, to 8,017.59. That is the index's highest close since Feb. 9, when the index ended at 8,270.87. A month later, the index sank to a nearly 12-year low of 6,547.05, but it's now 22.5 percent above that trough.

The rally that began in March has been the Dow's biggest four-week advance since 1933.

On Friday, the Standard & Poor's 500 index rose 8.12, or 1 percent, to 842.50. The Nasdaq composite index rose 19.24, or 1.2 percent, at 1,621.87, helped by BlackBerry maker Research in Motion Ltd., whose shares surged on better-than-expected profits.

About two stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.5 billion shares.

The Russell 2000 index of smaller companies rose 5.94, or 1.3 percent, to 456.13.

Government bond prices fell as investors entered riskier assets. The yield on the benchmark 10-year Treasury note rose to 2.90 percent from 2.76 percent late Thursday. The yield on the three-month T-bill rose to 0.21 percent from 0.20 percent.

The monthly employment report is often regarded as the most important piece of economic news affecting the market. There is even greater focus on jobs data now that the U.S. recession has stretched into the longest downturn since World War II.

Even as the numbers weren't as bad as some analysts feared, investors will need to see further signs that the recession isn't getting worse to keep the rally going. Analysts said the labor market is unlikely to provide much encouragement anytime soon.

The market could still recover even if unemployment remains high. Wall Street will just want signs that prospects for the labor market aren't getting far worse. In downturns during the past 60 years, the S&P 500 index has hit bottom an average of four months before a recession ended and about nine months before unemployment hit its peak.

Traders have been emboldened in recent weeks by better-than-expected readings on key economic factors like housing, banking and manufacturing.

Joe Saluzzi, co-head of equity trading at Themis Trading LLC, said investors are being too quick to overlook the holes in the economy like employment. He noted that January's job losses were revised much higher, to 741,000 from 655,000.

"We've run way too high here, way too fast," he said. "No matter how you want to spin it there are a ton of people unemployed and the rate is still going higher."

Another looming threat to the market's four-week buying spree is the start of the first quarter earnings season, which gets under way Tuesday with a report from Dow component Alcoa Inc. Expectations for corporate earnings are already low but any hints that things could get worse could easily kill the rally.

In a positive sign, Federal Reserve Chairman Ben Bernanke said in a speech Friday in Charlotte, N.C., that while he was uncomfortable with bailing out financial institutions, the Fed's strategy so far to ease the financial crisis appears to be working.

Kim Caughey, equity research analyst at Fort Pitt Capital Group, said it's reassuring that Bernanke is implying that there no more big financial rescue plans in the offing.

"The bazooka might be put away," she said, "or at least be leaning in the corner for a while."

European and Asian markets were mixed following a powerful global stock rally the day before after world leaders pledged $1 trillion for financial rescue measures and promised stronger regulation of financial institutions.

Japan's Nikkei stock average closed 0.3 percent higher, while Britain's FTSE 100 fell 2.3 percent. Germany's DAX rose less than 0.1 percent and France's CAC-40 fell 1.1 percent.
NEW YORK (AP) -- Not even grisly job losses could get in the stock market's way Friday.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street pulled back for the first time in five days Monday as investors worried about balance sheets at banks and the quarterly results that businesses will start releasing this week.

Investors were also disappointed that talks for IBM Corp.'s $7 billion deal to buy Sun Microsystems Inc. have stalled -- a sign that the market is still not ready to support big mergers.

Financial shares sold off after a prominent analyst predicted more losses at banks and said the government's efforts to prop up the ailing industry might not be as effective as hoped.

*The NYSE DOW closed LOWER -41.74 points	-0.52% on Monday April 6*
Sym Last........ ........Change..........
Dow	7,975.85	-41.74	-0.52%
Nasdaq	1,606.71	-15.16	-0.93%
S&P 500	835.48	-7.02	-0.83%
30-yr Bond	3.7580%	+0.0370

NYSE Volume	6,287,235,500 (prior day 6,811,030,000)
Nasdaq Volume	2,069,047,620 (prior day 2,154,506,750)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,993.54	-36.13	-0.90%
DAX	4,349.81	-35.18	-0.80%
CAC 40	2,929.75	-28.99	-0.98%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,857.93	+108.09	+1.24%
Hang Seng	14,998.04	+452.35	+3.11%
Straits Times	1,847.98	+27.11	+1.49%

http://finance.yahoo.com/news/Stocks-fall-after-4week-rally-apf-14863364.html

Stocks fall after 4-week rally; Dow below 8,000
Wall Street falls ahead of 1st-quarter earnings; banks lead decline amid worries about loans

    * Sara Lepro, AP Business Writer
    * Monday April 6, 2009, 5:08 pm EDT

NEW YORK (AP) -- Wall Street pulled back for the first time in five days Monday as investors worried about balance sheets at banks and the quarterly results that businesses will start releasing this week.

Investors were also disappointed that talks for IBM Corp.'s $7 billion deal to buy Sun Microsystems Inc. have stalled -- a sign that the market is still not ready to support big mergers.

Financial shares sold off after a prominent analyst predicted more losses at banks and said the government's efforts to prop up the ailing industry might not be as effective as hoped.

Michael Mayo issued "sell" ratings on several banks and said in his report that loan losses could exceed levels seen in the Great Depression.

The market was already on edge about the coming parade of first-quarter results, which kicks off Tuesday with aluminum producer and Dow component Alcoa Inc. Worse-than-expected reports could easily upset the market's recent advance, which brought stocks up more than 20 percent from early March, when they hit their lowest levels in 12 years.

"You have some skittishness in the market," said Len Blum, managing director at Westwood Capital LLC. "We have earnings season up ahead and it's very difficult to predict what that is going to do."

The Dow Jones industrials fell 41.74, or 0.5 percent, to 7,975.85 after being down as much as 155 points.

The Standard & Poor's 500 index fell 7.02, or 0.8 percent, to 835.48, while the Nasdaq composite index fell 15.16, or 0.9 percent, to 1,606.71.

Technology stocks were lower following the IBM-Sun news. Discussions between the technology giants had been in their final stages, but The Associated Press learned that IBM took its offer off the table Sunday after Sun terminated IBM's status as its exclusive negotiating partner.

It was unclear whether talks were continuing, or if Sun was trying to find an alternative suitor. Sun shares plunged more than 22 percent, falling $1.93 to $6.56. IBM fell 66 cents, or less than 1 percent, to $101.65.

Also weighing on the technology sector was a downgrade of Cisco Systems Inc. A Goldman Sachs analyst cut the rating on the stock to "Neutral" from "Buy," saying it had reached her $18 price target. Shares dropped 63 cents, or 3.5 percent, to $17.53.

A jump in stocks of defense contractors helped the market pull off its lows. Defense Secretary Robert Gates on Monday recommended halting production of the F-22 fighter jet as he outlined deep cuts to many of the military's biggest weapons programs. But spending would increase in other areas. Lockheed Martin Corp. jumped $5.97, or 8.9 percent, to $73.28, while Northrop Grumman Corp. rose $3.96, or 9 percent, to $47.94.

Among the biggest decliners in the financial industry were Wells Fargo & Co., which dropped $1.09, or 6.7 percent, to $15.25, and PNC Financial Services Group Inc., which fell $1.99, or 5.6 percent, to $33.81. Regional bank stocks also posted big losses.

Some traders were also unnerved by a two-week delay in a government program to help banks unload troubled loans from their books, which relies on hedge funds and other private investors buying loans and other assets from banks.

On Monday the Treasury Department extended the application deadline for the program to April 24 and relaxed some of the participation criteria to attract a wider pool of investors. The delay was a worrisome signal that the program could be running into problems.

The announcement came on the heels of Treasury Secretary Timothy Geithner's warning Sunday that the government could force out bank CEOs following its move a week ago to oust Rick Wagoner as CEO of General Motors Corp.

Like banks, GM is also a major recipient of government rescue funds, and Wagoner's dismissal raised widespread speculation that leadership at banks being helped by the government could also be in for changes.

Financial stocks largely carried the market's recent rally, as unprecedented government intervention and reassurances from bank CEOs that business is better than expected fed optimism that the economy could be turning around.

Investors are also awaiting results later this month of the government's "stress tests" of the nation's biggest banks. The tests, which aim to determine which banks might be in need of more capital if economic conditions worsen, are expected to be complete by the end of this month.

On Friday, the Dow rose 39 points to close above the 8,000 mark for the first time in nearly two months, logging a fourth straight week of gains and its best four-week performance since 1933.

Analysts are warning that companies' first-quarter reports, and their even more important forecasts for the remainder of the year, could derail the market's advance. Banking, retail, technology and industrials companies will be in particular focus.

"Companies have to come across with commentary that the worst is passed," said Nicholas Colas, chief market strategist at BNY ConvergEx. "That is the most critical thing and you have to hear it from a broad range of companies in a wide variety of industries."

The Russell 2000 index of smaller companies fell 8.57, or 1.9 percent, to 447.56.

More than two stocks fell for every one that rose on the New York Stock Exchange, where volume came to a light 1.3 billion shares.

Treasurys fell, pushing the yield on the 10-year note up to 2.94 percent from 2.90 percent late Friday. The dollar was mixed against other major currencies, and gold prices fell to their lowest close in more than two months as demand has waned for safe-haven assets.

Light, sweet crude for May delivery fell $1.46 to settle at $51.05 a barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 slipped 0.9 percent, while Germany's DAX index fell 0.8 percent and France's CAC-40 fell 1.0 percent as stocks fell on Wall Street. Japan's Nikkei stock average rose 1.2 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

On Tuesday, the Dow dropped 186.29, or 2.3 percent, to 7,789.56. The Standard & Poor's 500 index fell 19.93, or 2.4 percent, to 815.55, while the Nasdaq composite index fell 45.10, or 2.8 percent, to 1,561.61.

Investors dumped stocks for a second day Tuesday, prolonging a break from a huge four-week rally as the market girds itself for potentially grim earnings reports.

Major market barometers all fell more than 2 percent, including the Dow Jones industrial average, which lost 186 points. Trading volume was low, which can amplify swings in the market.
-- NYSE Volume 5,866,029,000 (prior day 6,287,235,500)
-- Nasdaq Volume 1,911,441,120 (prior day 2,069,047,620)

The selling hit a wide range of industries, from financials to energy, in an otherwise quiet day during a holiday-shortened week. The markets will be closed for Good Friday.

*The NYSE DOW closed LOWER -186.29 points	-2.34% on Tuesday April 7*
Sym Last........ ........Change..........
Dow	7,789.56	-186.29	-2.34%
Nasdaq	1,561.61	-45.10	-2.81%
S&P 500	815.55	-19.93	-2.39
30-yr Bond	3.7290%	-0.0290

NYSE Volume	5,866,029,000 (prior day 6,287,235,500)
Nasdaq Volume	1,911,441,120 (prior day 2,069,047,620)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,930.52	-63.02	-1.58%
DAX	4,322.50	-27.31	-0.63%
CAC 40	2,902.31	-27.44	-0.94%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,832.85	-25.08	-0.28%
Hang Seng	14,928.97	-69.07	-0.46%
Straits Times	1,802.39	-45.59	-2.47%

http://finance.yahoo.com/news/Stocks-extend-losses-to-2nd-apf-14874806.html

*Stocks extend losses to 2nd day; Dow tumbles 186

Investors send stocks lower, extending pause in four-week rally as earnings reports loom*
    * Sara Lepro and Tim Paradis, AP Business Writer
    * Tuesday April 7, 2009, 5:14 pm EDT

NEW YORK (AP) -- Investors dumped stocks for a second day Tuesday, prolonging a break from a huge four-week rally as the market girds itself for potentially grim earnings reports.

Major market barometers all fell more than 2 percent, including the Dow Jones industrial average, which lost 186 points. Trading volume was low, which can amplify swings in the market.

The selling hit a wide range of industries, from financials to energy, in an otherwise quiet day during a holiday-shortened week. The markets will be closed for Good Friday.

Analysts attributed the pullback to profit-taking after a huge advance in March that gave the Dow its best four-week performance in more than 75 years.

Dan Cook, senior market analyst at IG Markets in Chicago, said investors are naturally cautious ahead of the parade of company's quarterly results but that the low expectations could benefit stocks.

"We've already set the bar very low for these companies so it is going to be hard for to disappoint to the downside," he said.

Investors are also focused on bank earnings that get under way after the long weekend, and several pessimistic forecasts about potential loan losses have jolted the market in recent days. Citigroup Inc., Goldman Sachs Group Inc. and JPMorgan Chase & Co. all report next week.

"The real key is going to be bank earnings," said Joe Veranth, chief investment officer at Dana Investment Advisors in Brookfield, Wis. "Really the entire market hinges on that."

On Tuesday, the Dow dropped 186.29, or 2.3 percent, to 7,789.56. The Standard & Poor's 500 index fell 19.93, or 2.4 percent, to 815.55, while the Nasdaq composite index fell 45.10, or 2.8 percent, to 1,561.61.

Traders had been nervous ahead of a report from Alcoa Inc., the first of the 30 companies that make up the Dow to post quarterly results. The giant aluminum maker reported after the closing bell that it lost $497 million in its first quarter as prices fell for the lightweight metal. The company's loss was worse than some analysts' had forecast but still not as bad as some traders had feared.

Investors have worried this week that Alcoa's results would set the tone for dismal results to come.

Financial stocks fell for a second day. Bank stocks helped push the market to its first loss in five days on Monday after the Treasury Department delayed a program designed to help banks unload soured loans from their books and a prominent analyst said losses at banks are likely to exceed Depression-era levels.

Though investors have been more optimistic in recent weeks, buoyed by some upbeat news about the economy, many analysts have warned that the rally might not be sustainable if earnings reports come in worse than expected.

"I don't think anybody is making a bet on improvement yet," said Jon Biele, head of capital markets at Cowen & Co. "There is still a very much wait-and-see attitude that is weighing heavily on the market."

JPMorgan fell 95 cents, or 3.4 percent, to $27.25, while Wells Fargo & Co. fell 40 cents, or 2.6 percent, to $14.85. Bucking the trend, Citigroup rose 4 cents to $2.76.

Alcoa fell 12 cents, or 1.5 percent, to $7.79, weighing on other material companies. The stock rose at times in electronic trading after the closing bell. The after-hours trades aren't always an adequate gauge of investor opinion, however, because trading volume is light.

Even before Alcoa's report, traders were seeing a mix of corporate news Tuesday that hinted at how fractious trading could be in the next month as profit reports arrive.

Emerson Electric Co., which supplies technology and engineering services, lowered its profit forecast for the year because of falling demand. But the reduction wasn't far off from what Wall Street had been expecting so traders sent the stock higher for much of the session. It ended unchanged at $30.89.

International Speedway Corp. fell $5.81, or 23.8 percent, to $18.62 after the motor sports company reduced its full-year forecasts amid weakening economic conditions.

Not all the news was grim. Brinker International Inc., operator of the Chili's Grill & Bar restaurant chain, rose 60 cents, or 3.7 percent, to $16.85 after announcing its fiscal third-quarter results would come in ahead of Wall Street's estimates.

Bond prices rose, pushing the yield on the 10-year note to 2.90 percent from 2.93 percent late Monday.

In other trading, the Russell 2000 index of smaller companies fell 15.86, or 3.5 percent, to 431.70.

About three stocks fell for every one that rose on the New York Stock Exchange, where volume came to a light 1.26 billion shares.

The dollar was mixed against other major currencies. Gold prices rose.

Light, sweet crude fell $1.90 to settle at $49.15 a barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 fell 1.6 percent, Germany's DAX index lost 0.6 percent, and France's CAC-40 fell 0.9 percent. Japan's Nikkei stock average fell 0.3 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Insurance and technology shares led the market higher in a volatile day Wednesday, breaking a two-day slide. But a dim view of the economy from the Federal Reserve and jitters over looming earnings reports kept buyers in check.

The Dow Jones industrials rose 47.55, or 0.6 percent, to 7,837.11.

Stocks got an early lift from a deal combining two major homebuilders and a report saying the government was poised to extend aid to battered life insurance companies, then wavered throughout the day before ending slightly higher.

The Dow had fallen 3 percent over Monday and Tuesday, which analysts saw as a necessary breather following a powerful rally in March that gave the Dow its biggest four-week surge since 1933.

*The NYSE DOW closed HIGHER +47.55 points	+0.61% on Wednesday April 8*
Sym Last........ ........Change..........
Dow	7,837.11	+47.55	+0.61%
Nasdaq	1,590.66	+29.05	+1.86%
S&P 500	825.16	+9.61	+1.18%
30-yr Bond	3.6590%	-0.0700

NYSE Volume	6,065,054,500 (prior day 5,866,029,000)
Nasdaq Volume	1,874,115,000 (prior day 1,911,441,120)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,925.52	-5.00	-0.13%
DAX	4,357.92	+35.42	+0.82%
CAC 40	2,921.06	+18.75	+0.65%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,595.01	-237.84	-2.69%
Hang Seng	14,474.86	-454.11	-3.04%
Straits Times	1,783.96	-18.43	-1.02%

http://finance.yahoo.com/news/Housing-deal-hope-for-apf-14886238.html
*Housing deal, hope for insurers lift stocks

Stocks rise as investors balance news of homebuilder deal and earnings worries; Dow gains 48*

    * Sara Lepro and Tim Paradis, AP Business Writers
    * Wednesday April 8, 2009, 5:47 pm EDT

NEW YORK (AP) -- Insurance and technology shares led the market higher in a volatile day Wednesday, breaking a two-day slide. But a dim view of the economy from the Federal Reserve and jitters over looming earnings reports kept buyers in check.

The Dow Jones industrials rose 47.55, or 0.6 percent, to 7,837.11.

Stocks got an early lift from a deal combining two major homebuilders and a report saying the government was poised to extend aid to battered life insurance companies, then wavered throughout the day before ending slightly higher.

The Dow had fallen 3 percent over Monday and Tuesday, which analysts saw as a necessary breather following a powerful rally in March that gave the Dow its biggest four-week surge since 1933.

Market-watchers say the rally could still continue, but only if corporate earnings reports just now starting to roll out provide encouraging forecasts about where the economy is going -- something that's far from certain.

"We're braced for a lousy earnings season because we haven't had a lot of guidance," said Frederic H. Dickson, chief market strategist at D.A. Davidson & Co. in Lake Oswego, Ore., referring to company's opaque forecasts to start the year. "We're in a volatile bottoming process."

In other trading, the Standard & Poor's 500 index rose 9.61, or 1.2 percent, to 825.16, and the Nasdaq composite index rose 29.05, or 1.9 percent, to 1,590.66.

Traders jumped on some glimmers of hope that emerged from the homebuilding, tech and insurance industries.

A $1.3 billion deal between Pulte Homes Inc. and rival Centex Corp. will create the nation's largest homebuilder. Centex jumped 18.9 percent, while Pulte fell 10.5 percent. Other homebuilders were mixed.

Insurers jumped following a report in The Wall Street Journal that the government may soon provide rescue funds to the ailing life insurance industry. An announcement could come within the next few days, the Journal said. Life insurers have been hit hard by investment losses this past year.

MetLife Inc. rose 2.4 percent, Prudential Financial Corp. gained 7.7 percent and Hartford Financial Services Group Inc. added 13.5 percent.

Technology stocks showed some of the biggest advances following an encouraging forecast from Juniper Networks Inc. The maker of equipment for computer networks said its first-quarter earnings should meet forecasts even as sales will likely fall short of expectations. Its shares jumped 12 percent.

Cisco Systems Inc. added 1.7 percent, while Microsoft Corp. gained 2.3 percent.

Some corporate news weighed on parts of the market. Ryder System Inc. tumbled 18 percent after the truck leasing and logistics company lowered its first-quarter earnings projection. The company said the weak economy had eroded demand.

An analysts' assessment of Bank of America Corp. corralled most financial stocks. The Oppenheimer & Co. report, which the company disagreed with, predicted Bank of America will have to raise an additional $36.6 billion in capital. The stock lost 4.1 percent. It was the steepest slide among the 30 stocks that make up the Dow industrials.

Some investors were hopeful that regulators would soon move to curb short-selling, in which traders try to profit from a stock's decline by selling borrowed shares and buying them back at a lower price. SEC commissioners voted Wednesday to open certain proposals to public debate. Supporters say it could lead to more stability in the market.

The day brought mixed economic news. The Commerce Department said wholesalers trimmed their inventories in February by the steepest amount in more than 17 years. But sales rose for the first time since the summer. The data signaled that companies could be getting their inventories under control.

Federal Reserve policymakers, faced with the danger of a worsening recession, decided at their mid-March meeting to funnel $1.2 trillion into the economy. Minutes from the gathering released Wednesday revealed growing concerns about a vicious economic cycle in which rising unemployment would curtail consumer spending, potentially into 2010.

Stocks bounced off 12-year lows in early March, surging more than 20 percent in just four weeks as signs emerged that the economy might be regaining its footing. There have been a couple of pauses in the rally -- including the drops Monday and Tuesday -- that analysts welcome as evidence that traders are avoiding becoming euphoric over the prospects for a quick recovery in the economy.

In other trading Wednesday, the Russell 2000 index of smaller companies rose 10.42, or 2.4 percent, to 442.12.

About three stocks rose for every one that fell on the New York Stock Exchange where volume came to a light 1.32 billion shares.

Bond prices rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.86 percent from 2.90 percent late Tuesday.

The dollar showed some strength against other major currencies. That held gold to a moderate gain.

Light, sweet crude rose 23 cents to settle at $49.38 a barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 slipped 0.1 percent, Germany's DAX index rose 0.8 percent and France's CAC-40 rose 0.7 percent. Japan's Nikkei stock average fell 2.7 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*NYSE Markets are closed for Good Friday.*

The Dow and the Standard & Poor's 500 index ended at their highest levels since Feb. 9 and the Nasdaq posted its highest finish of the year, giving it a gain of 4.8 percent for 2009.

For the week, the Dow rose 0.8 percent. The blue chips hadn't logged five straight weekly gains since Oct. 2007, the stock market's peak.

The S&P 500 rose 1.7 percent for the week, while the Nasdaq added 1.9 percent.

Stocks surged Thursday to their highest levels in two months after banking giant Wells Fargo & Co. surprised the market with an early profit report that blew past analysts' expectations thanks to a strong pickup in its lending business.

The Dow Jones industrial average jumped nearly 250 points and major market indexes logged their fifth straight week of gains. 

Investors have been grasping at any sign of improvement in the crippled banking industry, and Wells Fargo's report Thursday that it expects first-quarter earnings of $3 billion provided an encouraging sign that a deep freeze in borrowing activity may finally be thawing. Wells Fargo said it benefited from its January acquisition of Wachovia and an increase in mortgage applications.

*The NYSE DOW closed HIGHER +246.27 points +3.14% on Thursday April 9*
Sym Last........ ........Change..........
Dow 8,083.38 +246.27 +3.14% 
Nasdaq 1,652.54 +61.88 +3.89% 
S&P 500 856.56 +31.40 +3.81% 
30-yr Bond 3.7560% +0.0970 

NYSE Volume 8,770,976,000  (prior day 6,065,054,500)
Nasdaq Volume 2,220,686,750  (prior day 1,874,115,000)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,983.71	+58.19	+1.48%
DAX	4,491.12	+133.20	+3.06%
CAC 40	2,974.18	+53.12	+1.82%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,916.06	+321.05	+3.74%
Hang Seng	14,901.41	+426.55	+2.95%
Straits Times	1,826.42	+42.46	+2.38%


http://finance.yahoo.com/news/Wells-Fargo-earnings-surprise-apf-14897138.html
*Wells Fargo earnings surprise sends market surging

Banks lead market higher after Wells Fargo says it will post $3 billion profit; Dow jumps 246*

    * Tim Paradis, AP Business Writer
    * Thursday April 9, 2009, 5:20 pm EDT

NEW YORK (AP) -- Stocks surged Thursday to their highest levels in two months after banking giant Wells Fargo & Co. surprised the market with an early profit report that blew past analysts' expectations thanks to a strong pickup in its lending business.

The Dow Jones industrial average jumped nearly 250 points and major market indexes logged their fifth straight week of gains. Markets are closed for Good Friday.

Investors have been grasping at any sign of improvement in the crippled banking industry, and Wells Fargo's report Thursday that it expects first-quarter earnings of $3 billion provided an encouraging sign that a deep freeze in borrowing activity may finally be thawing. Wells Fargo said it benefited from its January acquisition of Wachovia and an increase in mortgage applications.

"The fact that Wells Fargo can have record profits despite the troubles facing the banking system tells you something," said Rick Campagna, chief investment officer at 300 North Capital in Pasadena, Calif. "It's very good news."

The Dow and the Standard & Poor's 500 index ended at their highest levels since Feb. 9 and the Nasdaq posted its highest finish of the year, giving it a gain of 4.8 percent for 2009.

The Dow rose 246.27, or 3.1 percent, on Thursday to 8,083.38.

Broader stock indicators also put up big gains. The Standard & Poor's 500 index rose 31.40, or 3.8 percent, to 856.56. The Nasdaq composite index rose 61.88, or 3.9 percent, to 1,652.54.

For the week, the Dow rose 0.8 percent. The blue chips hadn't logged five straight weekly gains since Oct. 2007, the stock market's peak.

The S&P 500 rose 1.7 percent for the week, while the Nasdaq added 1.9 percent.

Wells Fargo's announcement injected a decisively upbeat tone into the market after three days of choppy trading. For most of the week stocks appeared to be taking a breather after barreling ahead more than 20 percent in March. Analysts see occasional pullbacks as signs of a healthy market as investors allocate money carefully instead of just following a frenzied crowd.

Though even with the rapid rise in the past month the Dow is still down by 42.9 percent from its Oct. 9, 2007 high.

Bank shares had been sluggish this week following worrisome forecasts from key analysts about the bad loans they still carry on their balance sheets and other long-term woes. Major banks begin reporting first-quarter results next week.

Wells Fargo jumped 31.7 percent Thursday and several other major banks also barreled higher, including Bank of America Corp., which added 35.3 percent. JPMorgan Chase & Co. rose 19.4 percent, and Citigroup Inc., up 12.6 percent.

Investors appeared unfazed by uneven monthly sales reports from retailers and mixed economic news.

Wal-Mart Stores Inc. reported lower-than-expected sales in March, sending its shares down 3.7 percent. It was one of only three stocks to fall among the 30 companies that make up the Dow industrials.

Target Corp. rose 6.1 percent after posting results that topped expectations, while teen clothing retailer Abercrombie & Fitch Co. slid 3.5 percent after its numbers came in weaker than predicted.

In economic news, new jobless claims fell more than expected last week, but those continuing to receive unemployment benefits set another high. The total number of laid-off Americans receiving unemployment rose to 5.84 million from 5.75 million, the most on record since 1967 and more than analysts expected.

The jump in stocks comes at the end of a relatively quiet week.

Investors have been worried that corporate earnings reports that began to trickle in this week could bring bad news about how companies expect the rest of the year to turn out. But the market's tone brightened somewhat on Wednesday on reports that the government will provide support for battered life insurers and a merger deal between two major homebuilders.

Ted Aronson, a partner at Aronson-Johnson-Ortiz in Philadelphia, said Wells Fargo's upbeat preview into its earnings could place a greater burden on banks reporting results next week. Wells Fargo doesn't report its full results until April 22.

"I'm not sure everyone will be as successful, but we'd like to hope that the success will spill over," Aronson said.

The upbeat mood Thursday sent one measure of the market's unease fell to its lowest levels since the fall. The Chicago Board Options Exchange Volatility Index, or the VIX, ended Thursday at its lowest level since Sept. 26. That signals investors are more confident they can predict the direction of stocks.

Ordinarily what's known as Wall Street's fear gauge might be in the 18 to 20 range but it hit 89.5 in October.

Still, analyst caution that some of Friday's buying could have reflected traders jumping to cover misplaced bets that stocks, particularly banks, would fall. Traders who sell stocks "short" are forced to step in and buy stocks to avoid further losses.

In other trading Thursday, the Russell 2000 index of smaller companies jumped 26.08, or 5.9 percent, to 468.20.

About seven stocks rose for every one that fell on the New York Stock Exchange. Volume came to 1.8 billion shares.

Treasury prices fell as the stock rally damped demand for safe-haven investments. The yield on the 10-year Treasury note rose to 2.92 percent from 2.86 percent late Wednesday.

The dollar rose against other major currencies, while gold prices fell.

Light, sweet crude rose $2.86 to settle at $52.24 on the New York Mercantile Exchange.

Overseas, Japan's Nikkei stock average rose 3.7 percent following reports that the country's ruling party is seeking a stimulus package bigger than originally announced. Britain's FTSE 100 gained 1.5 percent, Germany's DAX index rose 3 percent, and France's CAC-40 rose 1.8 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Stocks ended mostly higher Monday ahead of a flurry of earnings reports that could determine whether the economy is really getting better, as investors have been hoping over the past month as they drove the market higher.

Early signs were good. Goldman Sachs Group Inc. surprised investors after the end of trading Monday when it released better-than-expected quarterly results and announced a $5 billion stock offering. The company had been scheduled to report early Tuesday.

The bank's $1.7 billion profit was just the sort of good suprise traders were waiting for Monday as they snapped up financial stocks. Some traders are looking for signs of recovery and others don't want to get burned if banks beat the low expectations the market has set for the industry.

The buying helped the Dow Jones industrial average turn a 120-point deficit into a modest drop of 26 points by the time the closing bell sounded. Broader indexes managed to post gains. Trading volume was light, which can skew the market's moves.

*The NYSE DOW closed LOWER -25.57     	-0.32% on Monday April 13*
Sym Last........ ........Change..........
Dow	8,057.81	-25.57 points	-0.32%
Nasdaq	1,653.31	+0.77	+0.05%
S&P 500	858.73	+2.17	+0.25%
30-yr Bond	3.6870%	-0.0690

NYSE Volume	7,565,704,500 (prior day 8,770,976,000)
Nasdaq Volume	1,869,791,620 (prior day 2,220,686,750)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,983.71	closed Monday
DAX	4,491.12		closed Monday
CAC 40	2,974.18		closed Monday

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,924.43	-39.68	-0.44%
Hang Seng	14,901.41	closed Monday
Straits Times	1,876.77	+48.26	+2.64%

http://finance.yahoo.com/news/Stocks-end-mostly-higher-apf-14914043.html
*Stocks end mostly higher ahead of earnings reports

Wall Street bounces back from sell-off as traders prepare for rush of earnings, economic data*

    * Tim Paradis, AP Business Writer
    * Monday April 13, 2009, 5:08 pm EDT

NEW YORK (AP) -- Stocks ended mostly higher Monday ahead of a flurry of earnings reports that could determine whether the economy is really getting better, as investors have been hoping over the past month as they drove the market higher.

Early signs were good. Goldman Sachs Group Inc. surprised investors after the end of trading Monday when it released better-than-expected quarterly results and announced a $5 billion stock offering. The company had been scheduled to report early Tuesday.

The bank's $1.7 billion profit was just the sort of good suprise traders were waiting for Monday as they snapped up financial stocks. Some traders are looking for signs of recovery and others don't want to get burned if banks beat the low expectations the market has set for the industry.

The buying helped the Dow Jones industrial average turn a 120-point deficit into a modest drop of 26 points by the time the closing bell sounded. Broader indexes managed to post gains. Trading volume was light, which can skew the market's moves.

The bouts of selling after a long holiday weekend were orderly and suggested that traders were reluctant to give up on a five-week rally. The earnings reports and economic figures due this week could reignite buying if they beat Wall Street's modest expectations.

"If you get a couple earnings reports that are better than the worst that people expected then that might help," said Denis Amato, chief investment officer at Ancora Advisors.

Beyond banks, industrial stocks ended mixed after Boeing Co. and Chevron Corp. said the weak economy was hurting their results.

The market was unsettled by a New York Times report saying the Treasury has directed General Motors Corp. to lay the groundwork for a potential bankruptcy filing by June 1. GM might be forced to file if it cannot complete a plan to exchange debt for equity, according to the report.

According to preliminary calculations, the Dow fell 25.57, or 0.3 percent, to 8,057.81.

Broader stock indicators advanced. The Standard & Poor's 500 index rose 2.17, or 0.3 percent, to 858.73, and the Nasdaq composite index rose 0.77, or 0.1 percent, to 1,653.31.

Boeing fell 5 percent as analysts cut their ratings and estimates for the aircraft maker after it said it would reduce production of some jetliners next year due. Chevron lost 1.8 percent after saying first-quarter earnings will be sharply lower due to falling oil and natural gas prices.

Investors are also looking to a spate of earnings results throughout the week, including reports from JPMorgan Chase & Co. and Citigroup Inc. Financial companies had been among the hardest hit by the economic downturn and credit crisis, but they have also helped lead a rally over the past month.

Goldman rose 4.7 percent before rising 3 percent in after-hours electronic trading after the company released its earnings. JPMorgan ended the day up 2.9 percent and Citigroup rose 25 percent, while Bank of America Corp. rose 15 percent.

Analysts said some of the buying could reflect traders stepping in to cover misplaced bets that banks would fall when they post results this week. Traders who sell stocks "short" are forced to buy to avoid further losses.

Les Satlow, portfolio manager at Cabot Money Management in Salem, Mass., said the banks may have escaped an outright takeover by the government but that investors are now focused on the serious troubles that remain.

"The specter of nationalization has been chased away," he said. "We're back to the reality that we have a severe recession with sharply deteriorating credit quality."

Investors have been placing bets that improvements at banks could help lift the economy. The Dow has rallied for five weeks, but last week showed increased volatility as investors prepared for earnings reports.

Some of the worries dissipated late last week Wells Fargo & Co. jolted investors with an announcement that it expected to report a $3 billion profit for the first quarter. Stocks surged Thursday on the news, giving stocks moderate gains for the week. Markets were closed for Good Friday.

On Monday, GM was the biggest decliner among the 30 stocks that make up the Dow as investors worried about what a bankruptcy might mean for the economy. GM fell 33 cents, or 16.2 percent, to $1.71.

Investors are awaiting quarterly results this week from key companies in other industries, including Intel Corp., Johnson & Johnson and General Electric Co. Reports on inflation, housing and manufacturing are also due.

In corporate news, prescription benefits manager Express Scripts Inc. said it will buy the pharmaceutical benefit management operations of health insurer WellPoint Inc. for $4.68 billion. WellPoint gained $3.24, or 8 percent, to $43.58 while Express Scripts rose $7.64, or 15 percent, to $56.81.

In other market action, the Russell 2000 index of smaller companies slipped 0.15, or less than 0.1 percent, to 468.05.

About three stocks rose for every two that fell on the New York Stock Exchange, where volume came to 1.5 billion shares compared with 1.8 billion shares traded Thursday.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note fell to 2.86 percent from 2.92 percent late Thursday. The yield on the three-month T-bill rose to 0.18 percent from 0.17 percent late Thursday.

The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude fell $1.19 to settle at $50.05 a barrel on the New York Mercantile Exchange.

Overseas, Japan's Nikkei stock average fell 0.4 percent. Major European markets were closed Monday for Easter.


----------



## explod

Have been on idle for some time as the markets are in no mans land plural.

The 12 month Dow chart is at an interesting point I think.   Was looking like a reverse head and shoulders for the year to date but failing to break resistance at around the 8200 tells me that the down trend may be still firmly intact on the two year chart and another sharp drop may be in store soon.  I still see on the long term chart that there is little resistance to 4000 and the floor is probably around 2000.   Just my

Cheers explod


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com



explod said:


> The 12 month Dow chart is at an interesting point I think.   Was looking like a reverse head and shoulders for the year to date but failing to break resistance at around the 8200 tells me that the down trend may be still firmly intact on the two year chart and another sharp drop may be in store soon.  I still see on the long term chart that there is little resistance to 4000 and the floor is probably around 2000.  Cheers explod




*Included 12 month chart below:*


Wall Street shifted into reverse Tuesday after a surprisingly weak retail sales report punctured the market's optimism about the economy.

The poor sales data, combined with a sharp drop in wholesale prices, overshadowed better-than-expected earnings reports from Johnson & Johnson and Goldman Sachs, leading the Dow Jones industrial average down 137.63, or 1.7 percent, to 7,920.18, according to preliminary calculations.

Broader measures also lost ground after three days of gains. The Standard & Poor's 500 index fell 17.22, or 2 percent, to 841.51, and the Nasdaq composite index fell 27.59, or 1.7 percent, to 1,625.72.

*The NYSE DOW closed LOWER -137.63 points	-1.71% on Tuesday April 14*
Sym Last........ ........Change..........
Dow	7,920.18	-137.63	-1.71%
Nasdaq	1,625.72	-27.59	-1.67%
S&P 500	841.50	-17.23	-2.01%
30-yr Bond	3.6570%	-0.0300

NYSE Volume	8,821,917,000  (prior day 7,565,704,500) 
Nasdaq Volume	2,315,929,000 (prior day 1,869,791,620)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,988.99	+5.28	+0.13%
DAX	4,557.01	+65.89	+1.47%
CAC 40	3,000.22	+26.04	+0.88%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,842.68	-81.75	-0.92%
Hang Seng	15,580.16	+678.75	+4.55%
Straits Times	1,897.02	+20.25	+1.08%

*Weak retail sales report halts stock market rally

Stocks slide as drop in retail sales overshadows profit reports at J&J, Goldman; Dow falls 138*

    * Tim Paradis, AP Business Writer
    * Tuesday April 14, 2009, 4:32 pm EDT

NEW YORK (AP) -- Wall Street shifted into reverse Tuesday after a surprisingly weak retail sales report punctured the market's optimism about the economy.

The poor sales data, combined with a sharp drop in wholesale prices, overshadowed better-than-expected earnings reports from Johnson & Johnson and Goldman Sachs, leading the Dow Jones industrial average down 137.63, or 1.7 percent, to 7,920.18, according to preliminary calculations.

Broader measures also lost ground after three days of gains. The Standard & Poor's 500 index fell 17.22, or 2 percent, to 841.51, and the Nasdaq composite index fell 27.59, or 1.7 percent, to 1,625.72.

Financial stocks were especially weak after Goldman said it would raise $5 billion to repay government bailout money. Investors speculated that other major banks might follow suit, which would put pressure on their stocks. Citigroup Inc. and JPMorgan Chase & Co. are also due to report results this week.

Tuesday's selling was orderly and extended a give-and-take pattern the market has followed since halting a steep slide over the first two months of the year. Stocks have risen from 12-year lows since then on hopes that banks are getting through the worst of their problems and the economy might be bottoming out, though both the Dow and S&P 500 are still below where they started the year.

The unexpected 1.1 slump in retail sales in March reported Tuesday undermined the market's brightening outlook for the economy. The drop was far worse than the increase of 0.3 percent that analysts polled by Thomson Reuters had been expecting and marked the biggest fall in three months. Investors watch retail sales trends closely as a barometer of consumer spending, which makes up two-thirds of U.S. economic activity.

"The choppy data that we're seeing, whether it's economic or earnings, reminds us that we're still not out of the woods," said Sean Simko, head of fixed income management at SEI Investments in Philadelphia. "The market always has a tendency to go too far too fast."

Investors took little comfort from speeches by President Barack Obama and Federal Reserve Chairman Ben Bernanke that there have been hopeful signs about the economy and that a sustained recovery won't arrive quickly.

A separate report on wholesale prices released Tuesday gave another poor reading on the economy.

The Labor Department said wholesale prices tumbled 1.2 percent in March as the cost of gasoline, other energy products and food fell sharply. Falling prices fan worries about a spiraling effect where consumers and businesses would halt spending out of fear that they would pay too much for something today that could be worth less tomorrow.

The drop in stocks followed more signs that companies reporting earnings for the January-March quarter might be able to top Wall Street's modest expectations.

Johnson & Johnson said its first-quarter profit dipped, but not as much as expected. The health care products maker earned $3.5 billion, or $1.26 per share, above analysts' estimates of $1.22 per share. J&J, one of the 30 stocks that make up the Dow, rose 22 cents to $51.37.

Goldman released its results a day early, reporting after the closing bell Monday that it earned $1.66 billion in the quarter, well above what analysts were expecting. The company said it would raise $5 billion in stock in hopes of repaying the $10 billion investment it received from the government last year.

Goldman shares fell $15.04, or 11.6 percent, to $115.11 after its stock offering was priced at $123 per share, a discount of 5.5 percent to Monday's closing price.

Some other financial stocks also slid. JPMorgan fell $3, or 8.9 percent, to $30.70, while Morgan Stanley fell $3.22, or 12 percent, to $23.67.

Retailers fell after the sales report. Macy's Inc. slid 94 cents, or 7.3 percent, to $11.99, while Best Buy Co. Inc. fell $2.81, or 6.9 percent, to $38.10.

In other market moves, the Russell 2000 index of smaller companies fell 14.83, or 3.2 percent, to 453.22.

Two stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.8 billion shares.

Bond prices rose after the weak economic readings. That pushed the yield on the 10-year Treasury note down to 2.79 percent from 2.86 percent late Monday.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude fell 64 cents to settle at $49.41 a barrel on the New York Mercantile Exchange.

Overseas, Japan's Nikkei stock average fell 0.9 percent. Britain's FTSE 100 rose 0.1 percent, Germany's DAX index gained 1.5 percent, and France's CAC-40 rose 0.9 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The last-hour surged pushed the Dow up 109.44, or 1.4 percent, to 8,029.62.*

Wall Street is seeing an economic glass that's half-full -- again.

Investors poured money into consumer product and financial companies Wednesday as they saw new signals that the recession could be easing its chokehold on the economy.

Stocks jumped in the last hour of trading after the Federal Reserve released a report showing glimmers of hope in U.S. business conditions. The market had drifted for much of the day on poor readings on industrial production and consumer prices. The Dow Jones industrial average ended with a gain of 109 points.

The late-day turnaround was typical of a market that has looked for reasons to push higher on hopes for a recovery ever since stocks skidded to 12-year lows in early March. A powerful five-week rally since then has pushed the market up more than 20 percent.

*The NYSE DOW closed HIGHER +109.44 points 	+1.38% on Wednesday April 15*
Sym Last........ ........Change..........
Dow	8,029.62	+109.44	+1.38%
Nasdaq	1,626.80	+1.08	+0.07%
S&P 500	852.06	+10.56	+1.25%
30-yr Bond	3.6470%	-0.0100

NYSE Volume	7,291,411,500 (prior day 8,821,917,000)
Nasdaq Volume	2,105,109,250 (prior day 2,315,929,000)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,968.40	-20.59	-0.52%
DAX	4,549.79	-7.22	-0.16%
CAC 40	2,985.74	-14.48	-0.48%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,742.96	-99.72	-1.13%
Hang Seng	15,669.62	+89.46	+0.57%
Straits Times	1,902.19	+5.17	+0.27%

http://finance.yahoo.com/news/Hints-of-stabilizing-economy-apf-14939304.html
*Hints of stabilizing economy spark late rally

Late rally lifts market; consumer, financials stocks gain but Intel weighs on Nasdaq*

    * Tim Paradis, AP Business Writer
    * Wednesday April 15, 2009, 6:25 pm EDT

NEW YORK (AP) -- Wall Street is seeing an economic glass that's half-full -- again.

Investors poured money into consumer product and financial companies Wednesday as they saw new signals that the recession could be easing its chokehold on the economy.

Stocks jumped in the last hour of trading after the Federal Reserve released a report showing glimmers of hope in U.S. business conditions. The market had drifted for much of the day on poor readings on industrial production and consumer prices. The Dow Jones industrial average ended with a gain of 109 points.

The late-day turnaround was typical of a market that has looked for reasons to push higher on hopes for a recovery ever since stocks skidded to 12-year lows in early March. A powerful five-week rally since then has pushed the market up more than 20 percent.

Technology stocks lagged after Intel Corp.'s tightlipped forecast caused jitters about a corner of the market that had drawn buyers over the past month, but the tech-focused Nasdaq composite index managed a slender advance.

Money flowed into stocks like Procter & Gamble Co., which boosted its dividend, and American Express Co., which said credit card defaults might be stabilizing. Stocks in hard-hit parts of the market like airlines and home builders bounded higher as investors bet the economy might be finding its footing.

"The market may not be seeing concrete signs of a recovery, but there are specks of light that we're on the road to stabilization," said Ryan Larson, senior equity trader at Voyageur Asset Management.

The last-hour surged pushed the Dow up 109.44, or 1.4 percent, to 8,029.62.

The Standard & Poor's 500 index rose 10.56, or 1.3 percent, to 852.06, and the Nasdaq edged up 1.08, or 0.1 percent, to 1,626.80.

The Russell 2000 index rose 7.91, or 1.8 percent, to 461.13.

An increasing stream of quarterly results from companies is likely to add to the market's fractiousness as corporate earnings season gets under way this week. Reports due Thursday from JPMorgan Chase & Co., and Google Inc. could reshape how investors feel about the financial and technology industries. Figures are also due on home construction and unemployment claims.

Traders eventually looked past some of the economic readings that came out early in the day. The government reported that production at factories, mines and utilities fell 1.5 percent in March, the fifth straight month of decline and worse than the 1 percent dip analysts expected.

Consumer prices fell 0.1 percent last month as energy prices dropped. Analysts had expected a slight increase.

Later reports revived investors' optimism. The Fed's snapshot of business conditions around the nation suggested that a slide in areas like manufacturing could be slowing. And the National Association of Home Builders said its housing market index posted its biggest one-month gain in five years in April as many homebuyers jumped on lower prices and incentives.

American Airlines parent AMR Corp. jumped 19 percent in afternoon trading after the carrier posted a $375 million loss for the first quarter that wasn't as bad as analysts had feared.

American Express said credit card defaults might be stabilizing. A 12 percent rally in the stock helped lift financial shares and gave AmEx the biggest advance among the 30 stocks that make up the Dow industrials. Some buying likely occurred as traders rushed to cover misplaced bets that predicted financial stocks would fall.

More than two stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.5 billion shares.

Trading volume was light, which can amplify swings in the market, and some buyers may have been ready to pounce following a 2 percent slump a day earlier.

David Kelly, chief market strategist at JPMorgan Funds, said it could take months for investors to get a better sense of whether the economy has managed to break its slide.

"It's like April weather," he said. "Some days it will seem an awful lot like winter and other days it will feel like spring."

Consumer staples stocks -- considered a refuge during recessions -- posted some of the biggest gains. Procter & Gamble, the maker of Tide detergent and Crest toothpaste, rose 3.2 percent after boosting its quarterly dividend by 10 percent, to 4 cents.

Intel's earnings came in well ahead of expectations and the company said personal computer sales have "bottomed out," but investors were unnerved by Intel's decision not to provide a detailed revenue forecast. The stock fell 2.4 percent.

"We're going to continue to get bad news," said David Hefty, chief executive of Cornerstone Wealth Management in Auburn, Ind.

Bond prices rose, pushing the yield on the 10-year Treasury note down to 2.77 percent from 2.79 percent late Tuesday.

The dollar was mixed against other major currencies, while gold prices rose.

Overseas, Britain's FTSE 100 fell 0.5 percent, Germany's DAX index lost 0.2 percent, and France's CAC-40 fell 0.5 percent. Japan's Nikkei stock average fell 1.1 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors are growing more confident that the bruised economy is starting to heal.

Stocks closed at their highest level in more than two months Thursday as investors sifted through a mix of earnings and economic reports and found reason to be optimistic.

Nokia led tech stocks higher after the world's top mobile phone maker said it was maintaining its outlook for the phone market and had surpassed analyst expectations for sales during the first quarter. And JPMorgan Chase & Co. became the latest bank to report first-quarter earnings that were stronger than predicted.

The NYSE DOW closed HIGHER +95.81 points	+1.19% on Thursday April 16
Sym Last........ ........Change..........
Dow	8,125.43	+95.81	+1.19%
Nasdaq	1,670.44	+43.64	+2.68%
S&P 500	865.30	+13.24	+1.55%
30-yr Bond	3.7120%	+0.0650

NYSE Volume	7,765,555,000 (prior day 7,291,411,500)
Nasdaq Volume	2,390,625,500 (prior day 2,105,109,250)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,052.98	+84.58	+2.13%
DAX	4,609.46	+59.67	+1.31%
CAC 40	3,038.18	+52.44	+1.76%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,755.26	+12.30	+0.14%
Hang Seng	15,582.99	-86.63	-0.55%
Straits Times	1,891.75	-14.24	-0.75%

http://finance.yahoo.com/news/Tech-...54.html?sec=topStories&pos=main&asset=&ccode=

*Tech, financial stocks pull market higher

Stocks post second late-day surge on enthusiasm over prospects for tech, bank stocks*

    * Tim Paradis, AP Business Writer
    * Thursday April 16, 2009, 6:31 pm EDT

NEW YORK (AP) -- Investors are growing more confident that the bruised economy is starting to heal.

Stocks closed at their highest level in more than two months Thursday as investors sifted through a mix of earnings and economic reports and found reason to be optimistic.

Nokia led tech stocks higher after the world's top mobile phone maker said it was maintaining its outlook for the phone market and had surpassed analyst expectations for sales during the first quarter. And JPMorgan Chase & Co. became the latest bank to report first-quarter earnings that were stronger than predicted.

The day's economic numbers also fed investors' optimism. The government's weekly unemployment claims fell more than expected for the second straight week and a snapshot of regional manufacturing from the Philadelphia Federal Reserve was better than expected. Home construction fell sharply last month, but analysts said that could help the real estate market work through an oversupply of homes.

Although investors do not yet know how well all of America's biggest companies fared in the first three months of the year, there is a growing sense that the economy and the market are starting to stabilize. That allowed Wall Street to build on a more than five-week rally that started on the earliest signs that the worst of the recession might be over.

"Investors are saying Armageddon is off the table, the (Category) 5 hurricane has passed," said Phil Orlando, chief equity market strategist at Federated Investors in New York. "They're starting to price in the end of the recession."

Stocks turned higher late in the day after fluctuating earlier, repeating the pattern of Wednesday's trading. Some of the late buying was likely due to what's known as short covering. That occurs when investors who earlier sold borrowed stock on expectations of a market drop are forced to buy back those shares.

The Dow Jones industrial average closed up 95.81, or 1.2 percent, at 8,125.43, its first close above 8,100 since Feb. 9. The Dow is now up 24 percent since skidding to a 12-year low on March 9 though the index is still down 42.6 percent from its peak of 14,164.53 in October 2007.

Broad stock indicators rose by bigger percentages. The Standard & Poor's 500 index rose 13.24, or 1.6 percent, to 865.30, and the Nasdaq composite index rose 43.64, or 2.7 percent, to 1,670.44, its highest finish of the year.

The Nasdaq is now up 5.9 percent in 2009. The index lagged the broader market Wednesday when Intel Corp. disappointed investors by declining to provide revenue forecasts.

The Russell 2000 index of smaller companies rose 12.75, or 2.8 percent, to 473.88.

It was unclear whether the buying would continue Friday, at least in tech stocks, after Google Inc. posted better-than-expected profits but moved lower after an initial jump in after-hours trading.

Two marquee companies, Citigroup Inc. and General Electric Co., were due to report earnings before the opening bell Friday and their results were expected to drive trading.

JPMorgan Chase rose 68 cents Thursday to $33.24. Nokia rose $1.52, or 11.4 percent, to $14.88.

Some regional banks got a boost after Regions Financial Corp. said it expects to report a first-quarter profit, driving its shares up 34 percent. Fifth Third Bancorp rose 6.9 percent, while Huntington Bancshares Inc. jumped 8.2 percent.

The rally in the market since early March has been driven in large part by growing optimism that the financial industry is on the mend.

"Things are not necessarily getting better, but they are getting less worse," said David Stepherson, a portfolio manager at Hardesty Capital Management in Baltimore.

Another bright spot came as traders jumped on an initial public offering of shares of Rosetta Stone Inc., a maker of language learning software. The stock, which trades under the symbol RST, jumped $7.12, or 39.6 percent, to $25.12 in its first day of trading.

Illinois Tool Works Inc. rose 6.4 percent after results from the industrial products company weren't as bad as expected. Industrial companies have been hit hard by the recession so the results indicated that the economy could be stabilizing.

There were some disappointments. Southwest Airlines Co. reported a bigger-than-expected loss in the first quarter as traffic fell in what the chief executive called the carrier's toughest revenue environment ever. The stock lost 7.1 percent.

A bankruptcy filing by the nation's second-largest mall operator, General Growth Properties Inc., brought another reminder of the economy's lingering troubles and the dearth of available credit.

Four stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 6.43 billion shares, compared with 6.07 billion traded Wednesday.

Meanwhile, bond prices fell, pushing the yield on the 10-year Treasury note up to 2.83 percent from 2.77 percent late Wednesday.

The dollar rose against other major currencies, while gold prices fell.

Overseas, Japan's Nikkei stock average rose 0.1 percent. Britain's FTSE 100 rose 2.1 percent, Germany's DAX index gained 1.3 percent, and France's CAC-40 rose 1.8 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*Financial stocks suffered some of the day's worst declines: Bank of America plunged 24.3 percent and Citigroup fell 19 percent. Those two components of the Dow Jones industrial average contributed to a daily loss in the index of 290 points, or 3.6 percent. That was the biggest Dow drop since early March, before the market's big rally from nearly 12-year lows.*

Long-present unease about soured loans bubbled over on Monday after Bank of America Corp. said it set aside $13.4 billion to cover lending losses, even as it posted a profit for the first quarter, and as anxiety grew about the results of the government's "stress tests" to determine if banks will need more government bailout money.

While Bank of America and other big banks like Citigroup Inc. have fared better so far this year than many believed they would, nervousness is growing now over the massive losses from defaulting loans that are yet to come. On Sunday, White House chief of staff Rahm Emanuel said some banks will need help.


*The NYSE DOW closed LOWER -289.60	points -3.56% on Monday April 20*
Sym Last........ ........Change..........
Dow	7,841.73	-289.60	-3.56%
Nasdaq	1,608.21	-64.86	-3.88%
S&P 500	832.39	-37.21	-4.28%
30-yr Bond	3.6870%	-0.0980

NYSE Volume	8,281,374,500 (prior day 7,765,555,000)
Nasdaq Volume	3,110,583,500 (prior day 2,390,625,500)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,990.86	-101.94	-2.49%
DAX	4,486.30	-190.54	-4.07%
CAC 40	2,969.40	-122.56	-3.96%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,924.75	+17.17	+0.19%
Hang Seng	15,750.91	+149.64	+0.96%
Straits Times	1,874.85	-21.71	-1.14%

http://finance.yahoo.com/news/Wall-Street-tumbles-as-apf-14977865.html
*Wall Street tumbles as investors dump financials

Investors dump financial shares on worries about trouble on bank balance sheets*

    * Tim Paradis, AP Business Writer
    * Monday April 20, 2009, 5:56 pm EDT

Long-present unease about soured loans bubbled over on Monday after Bank of America Corp. said it set aside $13.4 billion to cover lending losses, even as it posted a profit for the first quarter, and as anxiety grew about the results of the government's "stress tests" to determine if banks will need more government bailout money.

While Bank of America and other big banks like Citigroup Inc. have fared better so far this year than many believed they would, nervousness is growing now over the massive losses from defaulting loans that are yet to come. On Sunday, White House chief of staff Rahm Emanuel said some banks will need help.

Financial stocks suffered some of the day's worst declines: Bank of America plunged 24.3 percent and Citigroup fell 19 percent. Those two components of the Dow Jones industrial average contributed to a daily loss in the index of 290 points, or 3.6 percent. That was the biggest Dow drop since early March, before the market's big rally from nearly 12-year lows.

Joe Saluzzi, co-head of equity trading at Themis Trading LLC, said traders are skeptical about bank earnings and believe the better-than-expected profit reports may be disguising problems.

"They're looking at bank numbers and are saying they are not that great," Saluzzi said.

Traders have been looking for some pullback ever since the Dow jumped 24 percent from its early March lows. But that pullback could end up being more significant than a mere correction if the market cannot shake its concerns about banks. With the stress test results expected in early May, the market is likely to see more volatility.

Worries about banks' debt problems were aggravated by news reports that their lending remains tight and that the government may swap its debt in banks for ownership stakes as its $700 billion bailout fund runs down.

Because of the central role lending plays in keeping businesses of all kinds going, investors have been hunting for signs of a recovery in banks before they get more optimistic about the broader economy.

The market has been encouraged by early indications that a government drive for lower interest rates has been helping banks step up lending, but investors are still sensitive to any signs of trouble -- including the comments from Emanuel and senior White House adviser David Axelrod, who said some banks "are going to have very serious problems."

Energy and materials companies also fell along with the prices of key commodities they rely on, such as crude oil.

The market declines were broad and deep, outweighing what would otherwise be positive news about a step-up in deal activity. After a deal with IBM Corp. didn't work out, troubled technology company Sun Microsystems found a buyer in Oracle, a leading maker of business software, while PepsiCo Inc. said it would bid $6 billion to buy its two biggest bottlers.

The Dow fell 289.60, or 3.6 percent, to 7,841.73.

Broader stock indicators also lost ground. The Standard & Poor's 500 index fell 37.21, or 4.3 percent, to 832.39, and the Nasdaq composite index fell 64.86, or 3.9 percent, to 1,608.21.

About 10 stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 6.79 billion shares, down from 7.1 billion shares on Friday.

Concerns about the sustainability of bank earnings weighed on financial stocks. Citigroup Inc. lost 71 cents to $2.94; JPMorgan Chase & Co. fell $3.57 or 10.7 percent to $29.69 and American Express Co. fell $2.83 or 13 percent to $18.98.

Jeffrey Frankel, president of Stuart Frankel & Co. in New York, said the retreat in financial stocks is welcome after their massive gains from early March -- he said too sharp a rise could endanger a long-term advance. Many bank stocks have doubled in only weeks.

"These banks have had a tremendous run," Frankel said. "Now you're hearing the bearish camp speak up a little bit."

Investors are also cautious about financials after The New York Times reported that the government might be forced to find ways to stretch the $700 billion allocated for the government's bank rescue fund by converting the government's loans into common stock. Such a move would give the government a controlling stake in banks and hurt existing shareholders by reducing the value of their shares.

Separately, The Wall Street Journal reported that banks receiving government bailout money are having a hard time making loans.

Wall Street was more upbeat about the Oracle deal, which carries a 42 percent premium to Sun's Friday closing stock price of $6.69. Sun jumped $2.46 or 36.8 percent to $9.15, Oracle slipped 24 cents or 1.3 percent to $18.82.

Beverage and snack maker PepsiCo offered to acquire Pepsi Bottling Group and PepsiAmericas in a move to cut costs. Pepsi lost $2.27 or 4.4 percent to $49.86 while Pepsi Bottling jumped $5.53 or 22 percent to $30.73 and PepsiAmericas surged $5.16 or 26 percent $25.04.

In earnings news, drug maker Eli Lilly & Co.'s first-quarter earnings rose 24 percent on higher sales of the antidepressant Cymbalta and as costs for Humalog, a form of insulin Lilly makes, remained flat. Shares slipped 76 cents or 2.3 percent to $32.99.

Light, sweet crude fell $4.45 to $45.88 a barrel on the New York Mercantile Exchange. That helped send Occidental Petroleum Corp. down $3.76 or 6.3 percent to $55.88, while Dow Chemical Co. fell $1.12 or 8.9 percent to $11.48.

In other market moves, the Russell 2000 index of smaller companies fell 26.88, or 5.6 percent, to 452.49.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.84 percent from 2.95 percent late Friday. The yield on the three-month T-bill fell to 0.12 percent from 0.13 percent.

The dollar was mostly higher against other major currencies. Gold prices rose.

Overseas, Japan's Nikkei stock average rose 0.19 percent. Britain's FTSE 100 fell 2.5 percent, Germany's DAX index fell 4.1 percent, and France's CAC-40 fell 4 percent.


----------



## pilots

bigdog said:


> NYSE Dow Jones finished today at:
> Source: http://finance.yahoo.com
> 
> *Financial stocks suffered some of the day's worst declines: Bank of America plunged 24.3 percent and Citigroup fell 19 percent. Those two components of the Dow Jones industrial average contributed to a daily loss in the index of 290 points, or 3.6 percent. That was the biggest Dow drop since early March, before the market's big rally from nearly 12-year lows.*
> 
> Long-present unease about soured loans bubbled over on Monday after Bank of America Corp. said it set aside $13.4 billion to cover lending losses, even as it posted a profit for the first quarter, and as anxiety grew about the results of the government's "stress tests" to determine if banks will need more government bailout money.
> 
> While Bank of America and other big banks like Citigroup Inc. have fared better so far this year than many believed they would, nervousness is growing now over the massive losses from defaulting loans that are yet to come. On Sunday, White House chief of staff Rahm Emanuel said some banks will need help.
> 
> 
> *The NYSE DOW closed LOWER -289.60	points -3.56% on Monday April 20*
> Sym Last........ ........Change..........
> Dow	7,841.73	-289.60	-3.56%
> Nasdaq	1,608.21	-64.86	-3.88%
> S&P 500	832.39	-37.21	-4.28%
> 30-yr Bond	3.6870%	-0.0980
> 
> NYSE Volume	8,281,374,500 (prior day 7,765,555,000)
> Nasdaq Volume	3,110,583,500 (prior day 2,390,625,500)
> 
> *Europe*
> Symbol... Last...... .....Change.......
> FTSE 100	3,990.86	-101.94	-2.49%
> DAX	4,486.30	-190.54	-4.07%
> CAC 40	2,969.40	-122.56	-3.96%
> 
> *Asia*
> Symbol..... Last...... .....Change.......
> Nikkei 225	8,924.75	+17.17	+0.19%
> Hang Seng	15,750.91	+149.64	+0.96%
> Straits Times	1,874.85	-21.71	-1.14%
> 
> http://finance.yahoo.com/news/Wall-Street-tumbles-as-apf-14977865.html
> *Wall Street tumbles as investors dump financials
> 
> Investors dump financial shares on worries about trouble on bank balance sheets*
> 
> * Tim Paradis, AP Business Writer
> * Monday April 20, 2009, 5:56 pm EDT
> 
> Long-present unease about soured loans bubbled over on Monday after Bank of America Corp. said it set aside $13.4 billion to cover lending losses, even as it posted a profit for the first quarter, and as anxiety grew about the results of the government's "stress tests" to determine if banks will need more government bailout money.
> 
> While Bank of America and other big banks like Citigroup Inc. have fared better so far this year than many believed they would, nervousness is growing now over the massive losses from defaulting loans that are yet to come. On Sunday, White House chief of staff Rahm Emanuel said some banks will need help.
> 
> Financial stocks suffered some of the day's worst declines: Bank of America plunged 24.3 percent and Citigroup fell 19 percent. Those two components of the Dow Jones industrial average contributed to a daily loss in the index of 290 points, or 3.6 percent. That was the biggest Dow drop since early March, before the market's big rally from nearly 12-year lows.
> 
> Joe Saluzzi, co-head of equity trading at Themis Trading LLC, said traders are skeptical about bank earnings and believe the better-than-expected profit reports may be disguising problems.
> 
> "They're looking at bank numbers and are saying they are not that great," Saluzzi said.
> 
> Traders have been looking for some pullback ever since the Dow jumped 24 percent from its early March lows. But that pullback could end up being more significant than a mere correction if the market cannot shake its concerns about banks. With the stress test results expected in early May, the market is likely to see more volatility.
> 
> Worries about banks' debt problems were aggravated by news reports that their lending remains tight and that the government may swap its debt in banks for ownership stakes as its $700 billion bailout fund runs down.
> 
> Because of the central role lending plays in keeping businesses of all kinds going, investors have been hunting for signs of a recovery in banks before they get more optimistic about the broader economy.
> 
> The market has been encouraged by early indications that a government drive for lower interest rates has been helping banks step up lending, but investors are still sensitive to any signs of trouble -- including the comments from Emanuel and senior White House adviser David Axelrod, who said some banks "are going to have very serious problems."
> 
> Energy and materials companies also fell along with the prices of key commodities they rely on, such as crude oil.
> 
> The market declines were broad and deep, outweighing what would otherwise be positive news about a step-up in deal activity. After a deal with IBM Corp. didn't work out, troubled technology company Sun Microsystems found a buyer in Oracle, a leading maker of business software, while PepsiCo Inc. said it would bid $6 billion to buy its two biggest bottlers.
> 
> The Dow fell 289.60, or 3.6 percent, to 7,841.73.
> 
> Broader stock indicators also lost ground. The Standard & Poor's 500 index fell 37.21, or 4.3 percent, to 832.39, and the Nasdaq composite index fell 64.86, or 3.9 percent, to 1,608.21.
> 
> About 10 stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 6.79 billion shares, down from 7.1 billion shares on Friday.
> 
> Concerns about the sustainability of bank earnings weighed on financial stocks. Citigroup Inc. lost 71 cents to $2.94; JPMorgan Chase & Co. fell $3.57 or 10.7 percent to $29.69 and American Express Co. fell $2.83 or 13 percent to $18.98.
> 
> Jeffrey Frankel, president of Stuart Frankel & Co. in New York, said the retreat in financial stocks is welcome after their massive gains from early March -- he said too sharp a rise could endanger a long-term advance. Many bank stocks have doubled in only weeks.
> 
> "These banks have had a tremendous run," Frankel said. "Now you're hearing the bearish camp speak up a little bit."
> 
> Investors are also cautious about financials after The New York Times reported that the government might be forced to find ways to stretch the $700 billion allocated for the government's bank rescue fund by converting the government's loans into common stock. Such a move would give the government a controlling stake in banks and hurt existing shareholders by reducing the value of their shares.
> 
> Separately, The Wall Street Journal reported that banks receiving government bailout money are having a hard time making loans.
> 
> Wall Street was more upbeat about the Oracle deal, which carries a 42 percent premium to Sun's Friday closing stock price of $6.69. Sun jumped $2.46 or 36.8 percent to $9.15, Oracle slipped 24 cents or 1.3 percent to $18.82.
> 
> Beverage and snack maker PepsiCo offered to acquire Pepsi Bottling Group and PepsiAmericas in a move to cut costs. Pepsi lost $2.27 or 4.4 percent to $49.86 while Pepsi Bottling jumped $5.53 or 22 percent to $30.73 and PepsiAmericas surged $5.16 or 26 percent $25.04.
> 
> In earnings news, drug maker Eli Lilly & Co.'s first-quarter earnings rose 24 percent on higher sales of the antidepressant Cymbalta and as costs for Humalog, a form of insulin Lilly makes, remained flat. Shares slipped 76 cents or 2.3 percent to $32.99.
> 
> Light, sweet crude fell $4.45 to $45.88 a barrel on the New York Mercantile Exchange. That helped send Occidental Petroleum Corp. down $3.76 or 6.3 percent to $55.88, while Dow Chemical Co. fell $1.12 or 8.9 percent to $11.48.
> 
> In other market moves, the Russell 2000 index of smaller companies fell 26.88, or 5.6 percent, to 452.49.
> 
> Bond prices rose. The yield on the 10-year Treasury note fell to 2.84 percent from 2.95 percent late Friday. The yield on the three-month T-bill fell to 0.12 percent from 0.13 percent.
> 
> The dollar was mostly higher against other major currencies. Gold prices rose.
> 
> Overseas, Japan's Nikkei stock average rose 0.19 percent. Britain's FTSE 100 fell 2.5 percent, Germany's DAX index fell 4.1 percent, and France's CAC-40 fell 4 percent.




A lot of traders are telling us alls well, I don't like the look of whats ahead of us.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Treasury Secretary Timothy Geithner convinced Wall Street to give banks another chance Tuesday.

Geithner's assertion that "the vast majority" of banks have enough capital pulled stocks from a slump that began with a sell-off Monday and spilled over into Tuesday morning. Geithner also told a congressional oversight committee that some banks would be allowed to repay financial bailout funds with the blessing of bank regulators.

The comments signaled that banks might not get poor marks in government "stress tests" designed to determine whether banks have enough capital to survive if the economy turns even worse. The results are due May 4.


*The NYSE DOW closed HIGHER +127.83 points	+1.63% on Tuesday April 21*
Sym Last........ ........Change..........
Dow	7,969.56	+127.83	+1.63%
Nasdaq	1,643.85	+35.64	+2.22%
S&P 500	850.08	+17.69	+2.13%
30-yr Bond	3.7460%	+0.0590

NYSE Volume	9,081,986,000 (prior day 8,281,374,500)
Nasdaq Volume	2,484,844,500 (prior day 3,110,583,500)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	3,987.46	-3.40	-0.09%
DAX	4,501.63	+15.33	+0.34%
CAC 40	2,973.94	+4.54	+0.15%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,711.33	-213.42	-2.39%
Hang Seng	15,285.89	-465.02	-2.95%
Straits Times	1,887.25	+12.40	+0.66%

http://finance.yahoo.com/news/Banks...90729.html?sec=topStories&pos=1&asset=&ccode=

*Banks pull stock market higher after sell-off

Banks pull market from slump after Geithner says 'vast majority' of them have enough capital*

    * Tim Paradis, AP Business Writer
    * Tuesday April 21, 2009, 5:30 pm EDT

NEW YORK (AP) -- Treasury Secretary Timothy Geithner convinced Wall Street to give banks another chance Tuesday.

Geithner's assertion that "the vast majority" of banks have enough capital pulled stocks from a slump that began with a sell-off Monday and spilled over into Tuesday morning. Geithner also told a congressional oversight committee that some banks would be allowed to repay financial bailout funds with the blessing of bank regulators.

The comments signaled that banks might not get poor marks in government "stress tests" designed to determine whether banks have enough capital to survive if the economy turns even worse. The results are due May 4.

"There is the hope that everything will be well after the stress test," said John Nichol, senior portfolio manager at Federated Investors.

The Dow Jones industrial average jumped 128 points after tumbling 290 points Monday on worries about bad debt at banks and the implications of the stress tests. The drop punctuated a six-week rally that lifted stocks more than 20 percent from their lowest levels in more than a decade.

Stocks fluctuated in the early going Tuesday after a string of lackluster earnings reports and forecasts stoked worries about how quickly the economy can recover.

Bank stocks, which led the market lower Monday, bounced back after the Geithner comments. JPMorgan Chase & Co. rose 9.6 percent, Citigroup Inc. jumped 10.2 percent, while Goldman Sachs Group Inc. rose 4.7 percent.

The fortunes of bank shares have largely dictated the stock market's direction since the fall of Lehman Brothers Holdings Inc. in mid-September, and investors took Geithner's comments as a reason to go back into the market. Some analysts attributed the buying to short covering, where investors have to buy stock after having earlier sold borrowed shares in a bet that the market would fall.

The Dow rose 127.83, or 1.6 percent, to 7,969.56.

Broader stock indicators showed the biggest gains. The Standard & Poor's 500 index rose 17.69, or 2.1 percent, to 850.08, and the Nasdaq composite index rose 35.64, or 2.2 percent, to 1,643.85.

Huntington Bancshares Inc. logged one of the more notable turnarounds. The regional bank fell as much as 26 percent in early trading before ending up 34 cents, or 10.9 percent, at $3.45.

The jump in most banks overshadowed mixed results from big-name companies. Coca-Cola Co. and drugmaker Merck & Co. posted results or issued forecasts that fell short of what the market expected. Wall Street was uneasy about some of the reports because analysts had set low expectations after a bruising January in which fourth-quarter results short-circuited a stock rally.

Coca-Cola fell $1.24, or 2.8 percent, to $43.09, after its first-quarter earnings fell 10 percent because of restructuring charges and write-downs. The beverage maker's earnings were in line with Wall Street's expectations but sales fell short.

Merck reported a 57 percent drop in first-quarter earnings because of a slide in both sales of its drugs and income from its partnership on cholesterol medicines. Merck fell $1.68, or 6.7 percent, to $23.54.

Investors moved into shares of Caterpillar Inc., DuPont and United Technologies Corp. after their reports.

Construction equipment maker Caterpillar posted better-than-expected earnings but reduced its forecast. Caterpillar rose 91 cents, or 3 percent, to $31.39.

DuPont said its first-quarter profit dropped on falling demand. The chemical company also cut its full-year forecast and said it will increase its efforts to cut fixed costs. DuPont rose $1.32, or 4.9 percent, to $28.06.

United Technologies rose $2.18, or 4.8 percent, to $47.99 after the parent of Otis elevators and Sikorsky Aircraft posted results that were in line with expectations and reiterated its full-year forecasts.

Among banks, JPMorgan rose $2.84, or 9.6 percent, to $32.53, while Citigroup rose 30 cents, or 10.2 percent, to $3.24. Goldman Sachs rose $5.35, or 4.7 percent, to $120.36. Morgan Stanley rose $1.13, or 4.8 percent, to $24.65.

In other market moves, the Russell 2000 index of smaller companies rose 17.56, or 3.9 percent, to 470.05.

About four stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.7 billion shares.

Bond prices fell. That pushed up the yield on the benchmark 10-year Treasury note to 2.90 percent from 2.84 percent late Monday. The yield on the three-month T-bill rose to 0.15 percent from 0.12 percent Monday.

Crude for July delivery rose 4 cents to settle $48.55 a barrel on the New York Mercantile Exchange.

The dollar was mixed against other major currencies while gold prices fell.

Overseas, Britain's FTSE 100 slipped 0.1 percent, Germany's DAX index rose 0.3 percent, and France's CAC-40 rose 0.2 percent. Japan's Nikkei stock average fell 2.4 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*THE LAST 30 MINUTES RUINED THE DAY!!!*

Nagging worries about banks upended a stock market rally Wednesday.

Volatile financial stocks steered the overall market for the third straight day after Morgan Stanley and credit card issuer Capital One Financial Corp. posted lackluster quarterly reports. Investors have been worried about rising levels of souring debt on bank balance sheets.

A late-session drop in banks left Wall Street's major benchmarks mixed. The Dow Jones industrial average fell 83 points, while the technology-heavy Nasdaq composite index ended modestly higher ahead of a quarterly report from eBay Inc.

The NYSE DOW closed LOWER -82.99 points	-1.04% on Wednesday April 22
Sym Last........ ........Change..........
Dow	7,886.57	-82.99	-1.04%
Nasdaq	1,646.12	+2.27	+0.14%
S&P 500	843.55	-6.53	-0.77%
30-yr Bond	3.8340%	+0.0880

NYSE Volume	8,899,651,000 (prior day 9,081,986,000)
Nasdaq Volume	2,724,917,000 (prior day 2,484,844,500)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,030.66	+43.20	+1.08%
DAX	4,594.42	+92.79	+2.06%
CAC 40	3,025.24	+51.30	+1.72%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,727.30	+15.97	+0.18%
Hang Seng	14,878.45	-407.44	-2.67%
Straits Times	1,843.41	-43.84	-2.32%

http://finance.yahoo.com/news/Falli...41.html?sec=topStories&pos=main&asset=&ccode=
*Falling bank stocks unravel rally; Dow loses 83

Bank stocks upend market rally as investors worry about rising levels of bad debt*

    * Tim Paradis, AP Business Writer
    * Wednesday April 22, 2009, 5:43 pm EDT

NEW YORK (AP) -- Nagging worries about banks upended a stock market rally Wednesday.

Volatile financial stocks steered the overall market for the third straight day after Morgan Stanley and credit card issuer Capital One Financial Corp. posted lackluster quarterly reports. Investors have been worried about rising levels of souring debt on bank balance sheets.

A late-session drop in banks left Wall Street's major benchmarks mixed. The Dow Jones industrial average fell 83 points, while the technology-heavy Nasdaq composite index ended modestly higher ahead of a quarterly report from eBay Inc.

Banks had tumbled on Monday after Bank of America warned of further loan losses, only to jump back on Tuesday after Treasury Secretary Timothy Geithner told Congress that most banks were well-capitalized.

The jumpy trading in financial shares came just as major companies report first-quarter earnings. Results from AT&T, Boeing and McDonald's contained glimmers of hope about consumer spending and the economy in general.

"We're starting to see a little light at the end of the tunnel," said Frank Ingarra, co-portfolio manager at Hennessy Funds. "The challenge is I don't know how long the tunnel is."

The Dow fell 82.99, or 1 percent, to 7,886.57.

Broader market measures were mixed. The Standard & Poor's 500 index fell 6.53, or 0.8 percent, to 843.55, while the Nasdaq composite index rose 2.27, or 0.1 percent, to 1,646.12.

Anton Schutz, portfolio manager of Burnham Financial Industries Fund and Burnham Financial Services Fund, said with bank earnings mostly in hand investors are now focused on the results of the government's "stress tests," which are aimed at determining whether banks will need more government bailout money.

Schutz said the late slide in bank stocks Wednesday reflects fear over what those details might reveal about the industry. Results from the tests are due for release May 4.

Morgan Stanley fell $2.21, or 9 percent, to $22.44 after reporting it lost $578 million and reduced its dividend. The company said it was hurt in part by a deteriorating commercial real estate market.

Banks have largely dictated the stock market's direction since last fall, when the collapse of Lehman Brothers Holdings Inc. shocked the financial system. A string of better-than-expected results in recent weeks initially reassured investors that the industry was not as troubled as many feared, but Bank of America Corp. touched off worries again when it said it was expecting a sharp rise in levels of bad debt.

Analysts say it's crucial that banks become more stable and resume normal levels of lending in order for the economy to recover.

Bank of America fell 50 cents, or 5.7 percent, to $8.26 Wednesday.

Wells Fargo & Co., which bought Wachovia last fall at the height of the credit crisis, said it earned $2.38 billion. That compares with a profit of $2 billion a year earlier. Wells fell 63 cents, or 3.4 percent, to $18.18 after rising for much of the day.

Technology shares fared better.

EBay Inc. rose 49 cents, or 3.4 percent, to $14.78 ahead of its report, and then climbed another 8.6 percent in after-hours trading. The Internet auction company's earnings and revenue fell for the second quarter in a row due to the slumping economy, but they surpassed analysts' expectations.

Apple Inc. slipped 25 cents to close at $121.51 but rose 2.6 percent in after-hours trading after reporting a better-than-expected 15 percent rise in profit.

AT&T Inc., meanwhile, rose 46 cents to $25.74. It said strong results from its wireless business softened the effect of the weak economy and helped the country's biggest telecommunications carrier beat analyst estimates for the first quarter.

And Yahoo Inc. rose 10 cents to $14.48 after saying it would lay off nearly 700 workers. The Internet company's earnings fell 78 percent to $118 million for the first three months of the year.

In other trading, the Russell 2000 index of smaller companies rose 0.66, or 0.1 percent, to 470.71.

Rising stocks outpaced those that fell by about 8 to 7 on the New York Stock Exchange, where consolidated volume came to 7.15 billion shares, down slightly from 7.22 billion shares Tuesday.

Bond prices fell, sending the yield on the 10-year Treasury note up to 2.94 percent from 2.90 percent late Tuesday.

The dollar was mixed against other major currencies, while gold prices rose.

Overseas, Britain's FTSE 100 rose 1.1 percent, Germany's DAX index rose 2.1 percent, and France's CAC-40 rose 1.7 percent. Japan's Nikkei stock average rose 0.18 percent.


----------



## bowman

Very bearish short term outlook. Maybe heading back to 7500ish?


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*THE LAST HOUR AGAIN!!*

The Dow Jones industrials closed Thursday with a late gain of about 71 points, or 0.9 percent, but only after another day of shaky, back-and-forth trading. It was almost the exact opposite of Wednesday's pattern, when stocks waffled throughout the day and then sank late in the afternoon.

Ryan Detrick, senior technical strategist at Schaeffer's Investment Research, said the late-day moves have not been driven by late-breaking news but by investors holding off on their trades for the day until the last minute.

The market's movement over the past week -- choppy, but sticking within a range -- indicates that investors are largely hopeful but still cautious after driving stocks up more than 20 percent from March's 12-year lows.

*The NYSE DOW closed HIGHER +70.49 points	+0.89% on Thursday April 23*
Sym Last........ ........Change..........
Dow	7,957.06	+70.49	+0.89%
Nasdaq	1,652.21	+6.09	+0.37%
S&P 500	851.92	+8.37	+0.99%
30-yr Bond	3.7970%	-0.0370

NYSE Volume	7,785,405,500 (prior day 8,899,651,000)
Nasdaq Volume	2,521,870,250 (prior day 2,724,917,000


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,018.23	-12.43	-0.31%
DAX	4,538.21	-56.21	-1.22%
CAC 40	3,008.62	-16.62	-0.55%

http://finance.yahoo.com/news/Stocks-log-lateday-gain-after-apf-15019083.html
*Stocks log late-day gain after wobbly trading

Stocks post late gain after shaky day; Earns from PNC, Apple help but others show strain*

    * Madlen Read and Tim Paradis, AP Business Writers
    * On Thursday April 23, 2009, 6:00 pm EDT

The Dow Jones industrials closed Thursday with a late gain of about 71 points, or 0.9 percent, but only after another day of shaky, back-and-forth trading. It was almost the exact opposite of Wednesday's pattern, when stocks waffled throughout the day and then sank late in the afternoon.

Ryan Detrick, senior technical strategist at Schaeffer's Investment Research, said the late-day moves have not been driven by late-breaking news but by investors holding off on their trades for the day until the last minute.

The market's movement over the past week -- choppy, but sticking within a range -- indicates that investors are largely hopeful but still cautious after driving stocks up more than 20 percent from March's 12-year lows.

Earnings from several leading companies were moving the market, including Apple Inc., EBay Inc. and PNC Financial Services Group Inc. PNC's results helped lift other bank stocks including JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co.

Poor results from other companies though, such as UPS Inc. and steelmaker Nucor Corp., signaled trouble, and economic data was downbeat. Sales of existing homes fell 3 percent in March, and claims for both new and continuing unemployment benefits rose last week.

Meanwhile, a big unknown still looms over the market: The results of the government's "stress tests," which will measure banks' ability to survive severe loan losses. The Federal Reserve is expected to explain its methodology for the tests on Friday and release results on May 4.

"The most important thing that everybody's looking for is clarity -- good, bad or indifferent," said Anthony Conroy, managing director and head trader for BNY ConvergEx Group.

On Thursday, the Dow finished up 70.49, or 0.9 percent, to 7,957.06, making up most of Wednesday's loss of 83 points.

Broader stock indicators also finished moderately higher. The Standard & Poor's 500 index rose 8.37, or 1 percent, to 851.92, and the Nasdaq composite index rose 6.09, or 0.4 percent, to 1,652.21.

The Russell 2000 index of smaller companies, however, fell 4.09, or 0.9 percent, to 466.62.

The National Association of Realtors reported that home sales fell 3 percent to an annual rate of 4.57 million in March from a revised pace of 4.71 million units in February. And the Labor Department reported a rise in new unemployment claims last week that was more than expected. The number of workers continuing to file claims for jobless benefits topped 6.13 million -- the 12th straight weekly record.

Ken Winans, president and chief executive of Winans International in Novato, Calif., said investors have been too quick to predict the end of the recession given difficulties like the glut of available homes and mounting unemployment.

"The stars are not all going to align," Winans said of economic readings. "Bottoms take time."

Still, traders have been taking some comfort from companies that have so far navigated the recession with success.

PNC bank rose $2.87, or 7.5 percent, to $40.93 after reporting a surprising 22 percent rise in first-quarter profit, boosted by its acquisition of National City Corp. and lower funding costs.

In other positive earnings news, Raytheon rose $2.74, or 6.6 percent, to $44.04 after raising its full-year earnings forecast and seeing stronger sales of missiles, radars and defense electronics.

Meanwhile, Apple rose $3.89, or 3.2 percent, to $125.40, while eBay rose $1.84, or 12.5 percent, to $16.62. Good results at both companies raised expectations that some consumers will continue to spend on gadgets and other goods.

Other earnings reports were more troubling.

UPS fell $1.42, or 2.6 percent, to $53.33 after earnings fell more than 55 percent as fewer people sent packages and used premium services like next-day air. UPS also warned second-quarter results will fall short of expectations.

And Nucor Corp., the largest U.S. steel producer, posted its first loss ever due to tumbling demand, and forecast an even wider loss for the second quarter. Nucor shares fell $4.07, or 9.2 percent, to $40.

About three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to 6.47 billion shares, down from 7.15 billion shares Wednesday.

Bond prices rose, pushing the yield on the benchmark 10-year Treasury note down to 2.93 percent from 2.94 percent late Wednesday.

Light, sweet crude rose 77 cents to $49.62 per barrel on the New York Mercantile Exchange.

The dollar was mostly lower against other major currencies, while gold prices rose.

Overseas, Britain's FTSE 100 fell 0.3 percent, Germany's DAX index fell 1.2 percent, and France's CAC-40 fell 0.6 percent. Japan's Nikkei stock average rose 0.22 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week down 55.04, or 0.7 percent, at 8,076.29. The Standard & Poor's 500 index fell 3.37, or 0.4 percent, to 866.23. The Nasdaq composite index rose 21.22, or 1.3 percent, to 1,694.29.

Investors set aside some of their worries about banks and the economy Friday after the government unveiled its methods for testing the health of banks.

The Federal Reserve report was light on details, but didn't bring any bad news. Investors were also pleased about quarterly results from Ford Motor Co., American Express Co. and Microsoft Corp.

Those developments cleared the way for a 119-point gain in the Dow Jones industrial average, leaving it down slightly for the week. The Dow and the S&P 500 broke their six-week winning streak, but the Nasdaq extended its string of weekly gains to seven.

*The NYSE DOW closed HIGHER +119.23 points	+1.50% on Friday April 24*
Sym Last........ ........Change..........
Dow	8,076.29	+119.23	+1.50%
Nasdaq	1,694.29	+42.08	+2.55%
S&P 500	866.23	+14.31	+1.68%
30-yr Bond	3.8760%	+0.0790

NYSE Volume	8,669,409,000 (prior day 8,899,651,000)
Nasdaq Volume	2,578,359,750 (prior day 2,724,917,000)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,155.99	+137.76	+3.43%
DAX	4,674.32	+136.11	+3.00%
CAC 40	3,102.85	+94.23	+3.13%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,707.99	-139.02	-1.57%
Hang Seng	15,258.85	+44.39	+0.29%
Straits Times	1,852.85	-7.13	-0.38%

http://finance.yahoo.com/news/Wall-Street-finds-little-apf-15030768.html?.v=23
*Wall Street finds little stress in 'stress tests'

Stocks higher amid relief over methods for testing banks; Ford, Amex surge on results*

    * Tim Paradis, AP Business Writer
    * On Friday April 24, 2009, 5:53 pm EDT

NEW YORK (AP) -- Investors set aside some of their worries about banks and the economy Friday after the government unveiled its methods for testing the health of banks.

The Federal Reserve report was light on details, but didn't bring any bad news. Investors were also pleased about quarterly results from Ford Motor Co., American Express Co. and Microsoft Corp.

Those developments cleared the way for a 119-point gain in the Dow Jones industrial average, leaving it down slightly for the week. The Dow and the S&P 500 broke their six-week winning streak, but the Nasdaq extended its string of weekly gains to seven.

The Fed, in outlining the tests' methodology, said the 19 companies that hold one-half of the loans in the U.S. banking system won't be allowed to fail -- even if they fared poorly on the stress tests.

Separately, bank executives were being briefed on their test results in meetings across the country. By law, the banks cannot publicize the results without the government's permission, but Wall Street buzzed with anticipation and most financial stocks rose.

"There are no major shocks in here. That's why the market's holding up well," said Scott Fullman, director of derivatives investment strategy for WJB Capital Group. "It's been hanging over the market for the last few days."

The day was not without volatility, however. After the Fed's release, the stock market at times gave up huge chunks of gains before finishing solidly higher. Financial stocks, as they have been all week, were leading the way.

The Dow rose 119.23, or 1.5 percent, to 8,076.29, after rising by as many as 170 points.

Broader market measures also advanced. The Standard & Poor's 500 index rose 14.31, or 1.7 percent, to 866.23, and the Nasdaq composite index rose 42.08, or 2.6 percent, to 1,694.29.

For the week, the Dow slipped 0.7 percent, the S&P 500 dipped 0.4 percent, and the Nasdaq rose 1.3 percent.

Steve Sachs, director of trading at Rydex Investments, in Rockville, Md., said market has held up well during a week in which about a quarter of the companies in the S&P 500 index have released earnings, including the major banks.

"We are looking for the signs of economic recovery," he said. "The market clearly is comfortable that it sees the signs of economic stability that it needs to see."

Sachs said he wouldn't be surprised to see some retreat in stocks after the major market gauges surged more than 20 percent since the rally began March 10. Stocks are still down by more than 40 percent from their peak in October 2007.

Stocks jumped from the start of trading Friday after Ford's loss wasn't as bad as analysts had forecast. The No. 2 automaker used up much less cash during the first three months of the year than it did in the last quarter of 2008.

The formal results of the stress tests won't be announced until May 4, but investors have been able to quell some of their worries after big banks after largely better-than-expected results this week.

Robert Reynolds, chief executive at Putnam Investments, said Treasury Secretary Tim Geithner's statement Tuesday that "the vast majority" of banks have enough capital hints that the market likely won't be surprised by the grades banks bring home from the stress test.

"I think it will confirm what the market thinks," he said, adding that banks are still troubled and will need time to repair their balance sheets. "I don't think that by any stretch of the imagination it means that we're out of woods."

In earnings news, Ford rose 51 cents, or 11 percent, $5 after reporting that it spent $3.7 billion more than it brought in during the quarter. That amount is far less than the $7.2 billion the company went through in the fourth quarter. The company hasn't taken government loans.

American Express jumped $4.33, or 20.7 percent, to $25.30 after the credit card lender reported earnings late Thursday that topped Wall Street's expectations, in part because of heavy cost-cutting. The company was by far the biggest gainer among the 30 stocks that form the Dow Jones industrials.

Reports from Microsoft and Amazon.com Inc. propelled the Nasdaq to the best performance among the major indexes. The index is up about 5 percent for the year as investors have bet that technology companies will be quick to bounce back as the economy recovers.

Microsoft rose $1.99, or 10.5 percent, to $20.91 as investors cheered cost cuts that included layoffs. Profits fell 32 percent but were in line with Wall Street estimates.

Amazon rose $3.85, or 4.8 percent, to $84.46 after the online retailer's first-quarter earnings and sales came in ahead of expectations as consumers still spent on books, DVDs and electronics despite the recession.

Energy stocks rose along with the price of crude oil and after oilfield services company Schlumberger Ltd. posted profits that beat Wall Street's expectations. The stock rose $3.12, or 6.7 percent, to $49.73, even as earnings fell about 30 percent because oil and natural gas companies cut back on exploration and drilling.

The Russell 2000 index of smaller companies rose 12.12, or 2.6 percent, to 478.74.

About three stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 6.99 billion shares, up from 6.47 billion shares Thursday.

Bond prices fell, pushing the yield on the 10-year Treasury note up to 2.99 percent from 2.93 percent late Thursday.

The dollar was mostly lower against other major currencies, while gold prices rose. Light, sweet crude jumped $1.93 to $51.55 a barrel even as supplies remain plentiful.

Overseas, Britain's FTSE 100 closed up 3.4 percent as U.S. markets rallied. Germany's DAX index rose 3 percent, and France's CAC-40 rose 3.1 percent. Japan's Nikkei stock average fell 1.6 percent.

The Dow Jones industrial average closed the week down 55.04, or 0.7 percent, at 8,076.29. The Standard & Poor's 500 index fell 3.37, or 0.4 percent, to 866.23. The Nasdaq composite index rose 21.22, or 1.3 percent, to 1,694.29.

The Russell 2000 index, which tracks the performance of small company stocks, fell 0.63, or 0.1 percent, for the week to 478.74.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 8,863.06, down 26.58, or 0.3 percent, for the week. A year ago, the index was at 13,990.52.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The swine flu gave Wall Street a reason to turn cautious.

The Dow Jones industrial average gave up a midday recovery and retreated about 0.6 percent Monday as the swine flu's death count in Mexico grew to about 150 people from 100.

There have been far fewer cases reported elsewhere, including the United States, and no other fatalities. Investors were also mindful of previous health scares that had only short-term jostling effects on the market including bird flu, Mad Cow disease and the West Nile virus -- none of which ever escalated to into global pandemics.

Still, Wall Street decided to hedge its bets as the U.S. cases of swine flu doubled to about 40.

*The NYSE DOW closed LOWER -51.29 points	-0.64% on Monday April 27*
Sym Last........ ........Change..........
Dow	8,025.00	-51.29	-0.64%
Nasdaq	1,679.41	-14.88	-0.88%
S&P 500	857.51	-8.72	-1.01%
30-yr Bond	3.8380%	-0.0380

NYSE Volume	6,819,637,000 (prior day 8,669,409,000)
Nasdaq Volume	2,644,689,500 (prior day 2,578,359,750)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,167.01	+11.02	+0.27%
DAX	4,694.07	+19.75	+0.42%
CAC 40	3,102.43	-0.42	-0.01%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,726.34	+18.35	+0.21%
Hang Seng	14,840.42	-418.43	-2.74%
Straits Times	1,818.61	-34.24	-1.85%

http://finance.yahoo.com/news/Inves...99.html?sec=topStories&pos=main&asset=&ccode=
*Investors are cautious as swine flu cases increase

Stocks decline as swine flu cases increase; Investors await more data on economy, earnings*

    * Madlen Read, AP Business Writer
    * On Monday April 27, 2009, 6:02 pm EDT

NEW YORK (AP) -- The swine flu gave Wall Street a reason to turn cautious.

The Dow Jones industrial average gave up a midday recovery and retreated about 0.6 percent Monday as the swine flu's death count in Mexico grew to about 150 people from 100.

There have been far fewer cases reported elsewhere, including the United States, and no other fatalities. Investors were also mindful of previous health scares that had only short-term jostling effects on the market including bird flu, Mad Cow disease and the West Nile virus -- none of which ever escalated to into global pandemics.

Still, Wall Street decided to hedge its bets as the U.S. cases of swine flu doubled to about 40.

Ryan Larson, senior equity trader at Voyageur Asset Management, said the flu was a "wild card" for the market. "It's still a little bit early to go into panic mode, but it's definitely something that needs to be watched closely," Larson said.

Airline and other travel-related stocks suffered the sharpest losses Monday. The European Union health commissioner advised Europeans to avoid nonessential travel to Mexico and the United States, but the Centers for Disease Control and Prevention in Atlanta said the recommendation was unwarranted.

Craig Peckham, market strategist at Jefferies & Co., called the flu an "easy excuse" for investors to cash in any profits they may have made in recent weeks. The Dow stalled last week, but remains up about 23 percent since its nearly 12-year low on March 9 after better-than-expected earnings and economic reports.

Monday's pullback came on very light volume -- a sign that there was more profit-taking than fear in the selling.

The Dow's losses were mitigated by General Motors Corp., which said it will cut 21,000 jobs by next year and ask the government to exchange GM debt for stock. The bailed-out automaker's announcement did not erase the possibility of a GM bankruptcy, but made it appear a bit less likely.

The Dow fell 51.29, or 0.6 percent, to 8,025.00, its first drop in three days.

Broader stock indicators also closed lower. The Standard & Poor's 500 index fell 8.72, or 1 percent, to 857.51, and the Nasdaq composite index fell 14.88, or 0.9 percent, to 1,679.41.

The Russell 2000 index of smaller companies fell 9.21, or 1.9 percent, to 469.53.

About two stocks fell for every one that rose on the New York Stock Exchange, where volume came to 5.52 billion shares, down from 6.99 billion on Friday.

GM rose 35 cents, or nearly 21 percent, to $2.04.

The stocks of airlines, hotels and other travel-related companies suffered heavy losses.

Starwood Hotels and Resorts Worldwide Inc. fell nearly 11 percent, falling $2.27 to $18.55. Cruise operator Carnival Corp. fell $3.84 or 13.5 percent to $24.59, and Delta Air Lines Inc. fell 14.3 percent, or $1.13, to $6.75.

Some pharmaceutical stocks, however, climbed. GlaxoSmithKline gained 7.6 percent, rising $2.22 to $31.56, and Gilead Sciences Inc. rose 3.8 percent, climbing $1.73 to $47.53. The two companies make flu treatments.

Although the swine flu distracted investors somewhat, they were still wary about financial stocks as they awaited the results of the government's stress tests on 19 big banks. The tests are due next Monday, and some analysts said the lack of details about the methodology of the tests is unsettling investors.

Citigroup Inc. fell 12 cents, or 3.8 percent, to $3.07, while Bank of America Corp. slipped 18 cents, or 1.98 percent, to $8.92.

Credit card issuers in particular were "sell" targets. Discover Financial Services fell $1.01, or 11 percent, to $8.08, while Capital One Financial Corp. fell $2.28, or 12 percent, to $16.74. There are growing concerns in the market that more cardholders will default on their balances as the recession continues.

Still, in anticipation of an economic turnaround, many investors like Robert Pavlik, chief market strategist at Banyan Partners LLC, said they have been paring back on traditionally safe stocks like consumer staples and buying more financials and consumer discretionary stocks.

"We are in a downturn, in this slowing economic phase, but it's not as bad as people originally perceived," Pavlik said. "What we're telling our clients is: Don't focus on the last three months."

But others say Wall Street needs more than just evidence that U.S. economy's decline is moderating.

"At a certain point, further gains have to be predicated on things getting fundamentally better, as opposed to less bad," Peckham said.

U.S. government bond prices were mixed. The yield on the benchmark 10-year Treasury note dipped to 2.91 percent from 3.00 percent late Friday. Bond prices move opposite to yields.

The dollar was mostly higher against other major currencies, while gold prices fell.

Light, sweet crude fell $1.41 to $50.14 a barrel on the New York Mercantile Exchange.

Overseas, Japan's Nikkei stock average rose 0.2 percent. Britain's FTSE 100 rose 0.3 percent, Germany's DAX index rose 0.4 percent, and France's CAC-40 fell less than 0.1 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

After months of giving investors only headaches, consumers gave Wall Street a break Tuesday.

A closely watched measure of consumer confidence soared in April, pulling stocks off an early slide and leaving them with just modest losses as investors grew hopeful that a better outlook among spenders would translate into bigger cash register receipts. The consumer reading balanced worries that large banks might need more capital and concerns about the spread of swine flu.

IBM Corp.'s decision to boost its dividend and spend more to buy back stock gave the market another shot of confidence, but an afternoon rally petered out in the last hour.

*The NYSE DOW closed LOWER -8.05 points	-0.10% on Tuesday April 28*
Sym Last........ ........Change..........
Dow	8,016.95	-8.05	-0.10%
Nasdaq	1,673.81	-5.60	-0.33%
S&P 500	855.16	-2.35	-0.27%
30-yr Bond	3.9550%	+0.1170

NYSE Volume	6,417,724,000 (prior day 6,819,637,000)
Nasdaq Volume	2,469,499,000 (prior day 2,644,689,500)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,096.40	-70.61	-1.69%
DAX	4,607.42	-86.65	-1.85%
CAC 40	3,051.02	-51.41	-1.66%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,493.77	-232.57	-2.67%
Hang Seng	14,555.11	-285.31	-1.92%
Straits Times	1,808.41	-10.20	-0.56%

http://finance.yahoo.com/news/Jump-...62149.html?sec=topStories&pos=2&asset=&ccode=

*Jump in consumer confidence pulls stocks from lows

Stocks post modest losses as financials lag; consumer confidence blows past forecasts in April*

    * Tim Paradis, AP Business Writers
    * On Tuesday April 28, 2009, 6:32 pm EDT

NEW YORK (AP) -- After months of giving investors only headaches, consumers gave Wall Street a break Tuesday.

A closely watched measure of consumer confidence soared in April, pulling stocks off an early slide and leaving them with just modest losses as investors grew hopeful that a better outlook among spenders would translate into bigger cash register receipts. The consumer reading balanced worries that large banks might need more capital and concerns about the spread of swine flu.

IBM Corp.'s decision to boost its dividend and spend more to buy back stock gave the market another shot of confidence, but an afternoon rally petered out in the last hour.

The Conference Board said its Consumer Confidence Index surged this month, jumping 12 points to 39.2, its highest level since November. The reading came as a relief to investors as consumers, worried about falling home prices, rising unemployment and a slumping stock market, have been reluctant to spend since last fall.

Todd Leone, managing director of equity trading at Cowen & Co., noted that investors continue to grow more upbeat about prospects for the economy. That optimism followed a string of better-than-expected readings and has driven a market rally since early March.

"People aren't as afraid as they have been. We're definitely seeing more money come back into the market," he said.

But the market's confidence took a hit ahead of the consumer report as investors worried that a growth in swine flu cases could hurt industries such as travel and tourism. The World Health Organization raised its alert to Phase 4 out of 6, saying the flu spreads easily but is not a pandemic.

The Dow Jones industrial average ended the day down 8.05, or 0.1 percent, to 8,016.95 after being down as much as 86 ahead of the consumer confidence report.

Broader stock indicators also lost ground. The Standard & Poor's 500 index fell 2.35, or 0.3 percent, to 855.16, and the Nasdaq composite index fell 5.60, or 0.3 percent, to 1,673.81.

Banking troubles came back into focus after news came out that regulators told Bank of America Corp. and Citigroup Inc. that they may need to raise more capital unless they can convince regulators that results of government "stress tests" were mistaken.

Bank of America fell 77 cents, or 8.6 percent, to $8.15, while Citigroup fell 18 cents, or 5.9 percent, to $2.89.

Some stocks that depend on consumer spending rose on the Conference Board index. The reading was far better than the 29.5 that economists expected, and suggests consumers might be willing to spend more if confidence continues to build.

Starbucks Corp. rose 30 cents, or 2.3 percent, to $13.50, while Coca-Cola Co. advanced 4 cents to $42.28.

"In the short term, this market is going to continue to trade on psychology," said Matt Eads, portfolio manager at Eads & Heald Investment Counsel in Atlanta. "People are looking for anything they can grab on to, which is a sign of good news and economic stabilization."

IBM rose $1.99, or 2 percent, to $101.94 after the company raised its quarterly dividend 5 cents to 55 cents. The company's board authorized another $3 billion for repurchasing stock. The move brings the total available for buying up shares to $6.7 billion.

"IBM's buyback and dividend hike has given the market some confidence and reminded people that there is a little bit of favorable news in technology," said Nick Kalivas, vice president of financial research at the brokerage MF Global in Chicago.

Unlike other major benchmarks, the tech-heavy Nasdaq composite index is up 6.1 percent this year as investors look for lean technology companies to benefit quickly from an economic recovery.

Investors responded more to news about individual stocks rather than buying entire industries, as had been the case in recent months when traders placed bets on consumer staples and technology companies expected to better endure the recession.

In other trading Tuesday, the Russell 2000 index of smaller companies rose 3.28, or 0.7 percent, to 472.81.

The swine flu gave investors reason to cash in recent gains Monday, but the Dow is still up 22.5 percent from the nearly 12-year low it reached in early March.

Bond prices fell, pushing the yield on the 10-year Treasury note up to 3.01 percent from 2.91 percent.

The dollar was mixed against other major currencies. Gold prices fell.

Light, sweet crude fell 22 cents to $49.92 a barrel on the New York Mercantile Exchange.

Advancing stocks narrowly outpaced decliners on the New York Stock Exchange, where consolidated volume came to 5.3 billion shares compared with 5.52 billion traded Monday.

Overseas, Japan's Nikkei stock average fell 2.7 percent. In Europe, Britain's FTSE 100 fell 1.7 percent, Germany's DAX index fell 1.9 percent and France's CAC-40 fell 1.7 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Fed confirmed what Wall Street has already concluded: The recession is starting to ease.

Federal Reserve policymakers said at the end of a two-day meeting Wednesday that while the economy is still receding, the pace of decline "appears to be somewhat slower" than the last time they met in mid-March.

That was confirmation enough for the stock market. Major indexes, which had already been up sharply ahead of the announcement on other signs the economy is stabilizing, posted gains of more than 2 percent. The Dow Jones industrial average jumped 169 points to its highest close since Feb. 9.

*The NYSE DOW closed HIGHER +168.78	+2.11% on Wednesday April 29*
Sym Last........ ........Change..........
Dow	8,185.73	+168.78	+2.11%
Nasdaq	1,711.94	+38.13	+2.28%
S&P 500	873.64	+18.48	+2.16%
30-yr Bond	4.0260%	+0.0710

NYSE Volume	7,294,068,500 (prior day 6,417,724,000)
Nasdaq Volume	2,819,922,250 (prior day 2,469,499,000)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,189.59	+93.19	+2.27%
DAX	4,704.56	+97.14	+2.11%
CAC 40	3,116.94	+65.92	+2.16%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,493.77	-232.57	-2.67%
Hang Seng	14,956.95	+401.84	+2.76%
Straits Times	1,849.57	+41.16	+2.28%

http://finance.yahoo.com/news/Stock...38.html?sec=topStories&pos=main&asset=&ccode=

*Stocks end higher as Fed sees recession easing

Stocks end higher as Fed sees 'somewhat slower' slide in economy; S&P 500 hits 3-month high*

    * Tim Paradis and Madlen Read, AP Business Writer

NEW YORK (AP) -- The Fed confirmed what Wall Street has already concluded: The recession is starting to ease.

Federal Reserve policymakers said at the end of a two-day meeting Wednesday that while the economy is still receding, the pace of decline "appears to be somewhat slower" than the last time they met in mid-March.

That was confirmation enough for the stock market. Major indexes, which had already been up sharply ahead of the announcement on other signs the economy is stabilizing, posted gains of more than 2 percent. The Dow Jones industrial average jumped 169 points to its highest close since Feb. 9.

"You had the Federal Reserve endorsing the basic stance that the economy is beginning to stabilize," said Bruce McCain, chief investment strategist at Key Private Bank in Cleveland.

The Dow is now 25 percent above its early March lows, though stocks have been unsteady over the past several days on fears of a potential swine flu pandemic and persistent concerns about the country's biggest banks.

Stocks began the day higher as investors responded to bright spots within a weaker-than-expected report on the nation's economic output for the first three months of the year.

Gross domestic product contracted at an annual rate of 6.1 percent, much steeper than the 5 percent forecast by economists polled by Thomson Reuters. But the glimmers of good news in the report drove the Standard & Poor's 500 rose to its highest trading level since late January.

Investors were encourage by a rebound in consumer spending, which accounts for more than two-thirds of U.S. economic activity, and a decline in business inventories. On President Barack Obama's 100th day in office, the GDP report at least provided signs that the nation is seeing its economic slide start to moderate.

The Dow jumped 168.78, or 2.1 percent, to 8,185.73. The gain leaves the blue chips down about 591 points, or 6.7 percent for the year.

The Standard & Poor's 500 index gained 18.48, or 2.2 percent, to 873.64, its highest close since Jan. 28.

The Nasdaq composite index advanced 38.13, or 2.3 percent, to 1,711.94. The tech-heavy index posted its highest finish since Nov. 4 and is up 8.6 percent for the year.

Michael Sheldon, chief market strategist at Westport, Conn.-based RDM Financial, said the drop in business stockpiles "should set the stage for a pickup in production, employment and profits."

Investors are still nervous that some banks, notably Citigroup Inc. and Bank of America Corp., might have to get more capital from the government or other investors. Going in to Wednesday's session, the Dow had lost 59 points this week.

Wednesday's GDP report follows recent data that suggests consumers have taken on a more upbeat outlook on the economy, which can translate into more spending and bigger corporate profits. On Tuesday, a report showing a sharp jump in consumer confidence in April helped pull stocks from an early decline and left the market with just modest losses.

Better-than-expected earnings have been boosting the market as well. Media conglomerate Time Warner Inc. said first-quarter profit fell 14 percent on deteriorating ad sales, but the results were better than expected. Defense contractor General Dynamics Corp.'s first-quarter earnings rose 3 percent on sales of warships and other military equipment.

Time Warner rose 21 cents, or 1 percent, to $21.98, while General Dynamics rose $2.73, or 5.4 percent, to $53.34.

Investors are still keenly focused on the financial sector, though.

Bank of America held a contentious annual meeting Wednesday. The Charlotte, N.C.-based bank -- one of the biggest recipients of government support -- is facing pressure from shareholders for its acquisition of Merrill Lynch. Shareholders re-elected the bank's board, according to a person with knowledge of the vote tally who spoke on condition of anonymity because he was not authorized to disclose the results.

But BofA executives said they needed more time to count the ballots for the 11 measures that were put to a vote -- including a shareholder proposal to strip CEO Ken Lewis of his chairman's title.

Meanwhile, Citigroup, which has also received large amounts of federal aid, is trying to figure out how to retain workers. Citigroup CEO Vikram Pandit has talked with Treasury Secretary Timothy Geithner about the possibility of paying special bonuses to keep demoralized workers from getting scooped up by competitors, a person familiar with the matter said. The person, who spoke on condition of anonymity, was not authorized to disclose details about the private talks.

According to a report in The Wall Street Journal late Tuesday, some key employees are threatening to leave the company because of pay restrictions the government placed on the bank.

Bank of America rose 53 cents, or 6.5 percent, to $8.68, while Citigroup rose 23 cents, or 8 percent, to $3.12.

In other trading, the Russell 2000 index of smaller companies rose 18.63, or 3.9 percent, to 491.47.

About five stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.5 billion shares.

Bond prices fell after the Fed said it saw signs that the economy was finding its footing. That decreased demand for the safety of government debt and pushed the yield on the 10-year Treasury note up to 3.11 percent from 3.01 percent on Tuesday.

The dollar fell against most other major currencies. Gold prices rose.

Light, sweet crude rose $1.05 to settle at $50.97 a barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 rose 2.3 percent, Germany's DAX index rose 2.1 percent and France's CAC-40 rose 2.2 percent. Japan's Nikkei stock average fell 2.7 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

April was Wall Street's best month in nine years -- offering some of the most powerful evidence yet that maybe, just maybe, the economy is about to begin a turnaround.

The Standard & Poor's 500 index, considered the most reliable measure of the broader market, climbed 9.4 percent in April, its best performance since March 2000, the peak of the dot-com bubble. The Dow Jones industrial average shot up 7.4 percent in April, on top of a 7.7 percent gain in March.

That's more than a relief for investors -- it's a potential economic indicator, because the stock market tends to get back on its feet before the economy does. In downturns over the past 60 years, the S&P hit bottom an average of four months before a recession ended and about nine months before unemployment hit its peak.

*The NYSE DOW closed LOWER -17.61 points	-0.22% on Thursday Apriil 30*
Sym Last........ ........Change..........
Dow	8,168.12	-17.61	-0.22%
Nasdaq	1,717.30	+5.36	+0.31%
S&P 500	872.81	-0.83	-0.10%
30-yr Bond	4.0440%	+0.0180

NYSE Volume	9,861,495,000 (prior day 7,294,068,500)
Nasdaq Volume	3,363,920,250 (prior day 2,819,922,250)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,243.71	+54.12	+1.29%
DAX	4,769.45	+64.89	+1.38%
CAC 40	3,159.85	+42.91	+1.38%


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,828.26	+334.49	+3.94%
Hang Seng	15,520.99	+564.04	+3.77%
Straits Times	1,920.28	+70.71	+3.82%

http://finance.yahoo.com/news/Stock...94740.html?sec=topStories&pos=1&asset=&ccode=

*Stocks' big April could be sign of healing economy

Wall Street's big April advance could be another sign that the recession is starting to ease*

    * Tim Paradis, AP Business Writer
    * On Thursday April 30, 2009, 6:45 pm EDT

NEW YORK (AP) -- April was Wall Street's best month in nine years -- offering some of the most powerful evidence yet that maybe, just maybe, the economy is about to begin a turnaround.

The Standard & Poor's 500 index, considered the most reliable measure of the broader market, climbed 9.4 percent in April, its best performance since March 2000, the peak of the dot-com bubble. The Dow Jones industrial average shot up 7.4 percent in April, on top of a 7.7 percent gain in March.

That's more than a relief for investors -- it's a potential economic indicator, because the stock market tends to get back on its feet before the economy does. In downturns over the past 60 years, the S&P hit bottom an average of four months before a recession ended and about nine months before unemployment hit its peak.

"The market is saying that the economy would hit its trough this summer," said Al Goldman, chief market strategist at Wachovia Securities in St. Louis who has spent 50 years monitoring Wall Street.

Even with the gains in March and April, the Dow is still down 42 percent from its peak in October 2007, and the S&P 500 index is off 44 percent.

Nevertheless, the mood is clearly more upbeat.

Stocks mostly held steady Thursday, the same day that Chrysler filed for bankruptcy reorganization. Only two months ago, a more jittery market would have plunged if one of the Big Three said it couldn't pay its bills.

The Dow Jones industrial average fell 17.61, or 0.2 percent, to 8,168.12 Thursday. The Standard & Poor's 500 index fell 0.83, or 0.1 percent, to 872.81. The Nasdaq composite index rose 5.36, or 0.3 percent, to 1,717.30.

On paper at least, U.S. stocks gained nearly $1 trillion in value in April alone. And the S&P's March-April gain of 18.7 percent is its best two-month rise since 1975.

The fervent hope among many investors and policymakers is that Wall Street itself will help the larger economy along. The same psychology that led many people to cut their spending following last fall's frightening stock plunge could work in reverse, boosting confidence in the economy and making Americans feel more comfortable about spending.

The rally began in March when Citigroup surprised investors by announcing it had made money in the first two months of the year. Other banks followed suit, and last week many big banks posted results that weren't as bad as feared. In April, economic readings on home construction, retail sales and orders for manufactured goods improved or at least didn't slide as quickly as they did during the meltdown last fall.

"The market has been playing its role as an economic fortune teller," said Jim McDonald, chief investment strategist at Northern Trust in Chicago.

Of course, sometimes the market speaks too soon. For example, it jumped 20 percent from late November to the start of January only to slide to new lows by early March when more bad economic news arrived.

This time, bank stocks, which led Wall Street to its devastating losses last year, are leading the market higher. Financial stocks in the S&P 500 index are up 74 percent since early March.

Of course, percentages can be misleading. The 200 percent gain in Citigroup's stock in less than two months -- from $1 to $3 -- might not feel as rewarding for an investor who held the bank's shares a year ago when they were worth $27. And the recovery in stocks is never a straight line upward; stocks could very well fall back somewhat.

"I think the market rally that we're seeing is a little bit of false euphoria," said Stephanie Giroux, chief investment strategist at the brokerage TD Ameritrade. "When the market starts to digest that the less bad isn't going to be enough, you'll see it maybe take a breather for a while."


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

For the week, the Dow rose 1.7 percent, the S&P 500 index added 1.3 percent and the Nasdaq rose 1.5 percent.

The Nasdaq is up 9 percent for the year but the Dow and the S&P 500 remain lower.

Wall Street extended its rally into a third month, shrugging off more reminders of the recession and placing cautious bets on an economic recovery.

Stocks ended higher Friday after a day of quiet back-and-forth trading as investors determined that they could add to the gains of March and April despite mixed economic data and earnings reports.

The advance left the stock market's major gauges with gains of about 1.5 percent for the week.

*The NYSE DOW closed HIGHER +44.29 points	+0.54% on Friday May 1*
Sym Last........ ........Change..........
Dow	8,212.41	+44.29	+0.54%
Nasdaq	1,719.20	+1.90	+0.11%
S&P 500	877.52	+4.71	+0.54%
30-yr Bond	4.0880%	+0.0440

NYSE Volume	6,178,385,000 (prior day 9,861,495,000)
Nasdaq Volume	2,522,047,000 (prior day 3,363,920,250)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,243.22	-0.49	-0.01%
DAX	4,769.45	closed May 1
CAC 40	3,159.85	closed May 1


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,977.37	+149.11	+1.69%
Hang Seng	15,520.99	+564.04	+3.77%
Straits Times	1,920.28	closed May 1

http://finance.yahoo.com/news/Wall-...08193.html?sec=topStories&pos=1&asset=&ccode=

*Wall Street rally extends into a third month

Stocks end quiet day higher after mixed economic, earnings data; Dow gains 44*

    * Tim Paradis, AP Business Writer
    * On Friday May 1, 2009, 6:02 pm EDT

NEW YORK (AP) -- Wall Street extended its rally into a third month, shrugging off more reminders of the recession and placing cautious bets on an economic recovery.

Stocks ended higher Friday after a day of quiet back-and-forth trading as investors determined that they could add to the gains of March and April despite mixed economic data and earnings reports.

The advance left the stock market's major gauges with gains of about 1.5 percent for the week.

Wall Street has been growing more optimistic about the economy stabilizing, but the reports Friday confirmed that business conditions remain difficult and that a recovery is likely to be gradual.

A private group's measure of the manufacturing industry showed a slower contraction in April than March. However a separate government report said orders to U.S. factories fell more than expected in March.

Companies also reported mixed results. MasterCard Inc.'s first-quarter revenue fell short of expectations and two major insurance companies posted losses for the quarter. Reports from manufacturer Manitowoc Co. and computer security software maker McAfee Inc. beat forecasts.

Earnings reports have been a major driver of the stock market over the past few weeks. The S&P 500 index, a broad measure of the market, rose 9.4 percent in April, the biggest monthly jump since March 2000.

"After the big run-up everyone is just trying to step back and trying to put their game plan together for the next month," said Sean Simko, head of fixed income management at SEI Investments in Philadelphia.

The Dow Jones industrial average rose 44.29, or 0.5 percent, to 8,212.41.

The S&P 500 index rose 4.71, or 0.5 percent, to 877.52, and the Nasdaq composite index rose 1.90, or 0.1 percent, to 1,719.20.

For the week, the Dow rose 1.7 percent, the S&P 500 index added 1.3 percent and the Nasdaq rose 1.5 percent.

The Nasdaq is up 9 percent for the year but the Dow and the S&P 500 remain lower.

While many economic and earnings reports haven't been as bad as expected, they're still not good. Some analysts say the market's enthusiasm over the early seeds of recovery is overdone.

"People keep talking about these 'green shoots' but to me that implies that something is growing. But nothing is growing at this point," said Dan Cook, senior market analyst at IG Markets in Chicago.

The economic and earnings reports Friday highlighted the forces tugging at the economy.

MasterCard fell $10.55, or 5.8 percent, to $172.90 after its warning about weakness in revenues.

Insurers MetLife Inc. and The Hartford Financial Services Group Inc. posted losses for the first quarter. MetLife fell $2.30, or 7.7 percent, to $27.45, while The Hartford fell 91 cents, or 7.9 percent, to $10.56.

However, Manitowoc reported a first-quarter loss, but results from the maker of cranes and foodservice equipment topped expectations. The stock rose 54 cents, or 9.1 percent, to $6.49.

McAfee's profit jumped 77 percent, pushing its stock up $2.92, or 7.8 percent, to $40.46.

The rally could easily falter, however, after the government releases results from its "stress tests" of major banks to see which ones will need more financial aid. Word came Friday that the announcement of the results was pushed back from Monday to Thursday as negotiations between banks and regulators continue.

The market took the news of the delay well but Alan Lancz, money manager at Alan B. Lancz & Associates, in Toledo, Ohio, said financial stocks could face hurdles next week if the results show that banks' balance sheets are in worse shape than expected.

"Everyone is looking at the glass as half full right now and that tends to worry us, especially with the financials," he said.

Financial stocks mostly fell after surging 74 percent from the markets early lows in March. Wells Fargo & Co. slid 40 cents, or 2 percent, to $19.61, while Bank of America Corp. fell 23 cents, or 2.6 percent, to $8.70.

Energy stocks advanced as light, sweet crude rose $2.08 to settle at $53.20 a barrel on the New York Mercantile Exchange. Occidental Petroleum rose $2.18, or 3.9 percent, to $58.47, while Devon Energy Corp. rose $2.29, or 4.4 percent, to $54.14.

About two stocks rose for every one that fell on the New York Stock Exchange, where volume came to a light 1.29 billion shares.

U.S. government bond prices fell, pushing the yield on the 10-year note up to 3.16 percent from 3.12 percent late Thursday.

The dollar was mixed against other major currencies. Gold prices fell.

Overseas, Japan's Nikkei stock average rose 1.7 percent. In Europe, Britain's FTSE 100 slipped less than 0.1 percent. Germany's DAX and France's CAC-40 were closed for a holiday.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Standard & Poor's 500 index is up for the year. And for once, it was the housing market that sent stocks soaring. The S&P 500, considered Wall Street's most important indicator, bounded up 3.4 percent Monday and erased the last of its losses for 2009. And the Dow Jones industrials shot up more than 200 points and had their first finish above 

Two months ago, an S&P 500 in positive ground would have seemed impossible, with the stock market having fallen to 12-year lows on fears of a worsening recession. Monday's rally was led by the same financial and housing stocks that were decimated by the credit crisis and the sinking economy, and it added more momentum to a stunning rally that began March 10.

A double dose of good housing news ignited the advance: Pending U.S. home sales rose more than forecast and had their second straight monthly gain, while construction spending rose unexpectedly in March after five straight declines.

*The NYSE DOW closed HIGHER +214.33 points	+2.61% on Monday May 4*
Sym Last........ ........Change..........
Dow	8,426.74	+214.33	+2.61%
Nasdaq	1,763.56	+44.36	+2.58%
S&P 500	907.24	+29.72	+3.39%
30-yr Bond	4.0650%	-0.0230

NYSE Volume	11,675,107,000  (prior day 6,178,385,000)
Nasdaq Volume	2,588,399,250 (prior day 2,522,047,000)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,243.22	Holiday
DAX	4,902.45	+133.00	+2.79%
CAC 40	3,237.97	+78.12	+2.47%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	8,977.37	closed Monday through Wednesday for the "Golden Week" holidays.	
Hang Seng	16,381.05	+860.06	+5.54%
Straits Times	2,027.45	+107.17

http://finance.yahoo.com/news/Stock...27.html?sec=topStories&pos=main&asset=&ccode=

*Stocks surge; S&P 500 turns positive for 2009

Surging stocks vault S&P 500 higher for the year as pending home sales data boost mood*

    * Tim Paradis and Sara Lepro, AP Business Writers
    * On Monday May 4, 2009, 6:24 pm EDT

NEW YORK (AP) -- The Standard & Poor's 500 index is up for the year. And for once, it was the housing market that sent stocks soaring. The S&P 500, considered Wall Street's most important indicator, bounded up 3.4 percent Monday and erased the last of its losses for 2009. And the Dow Jones industrials shot up more than 200 points and had their first finish above 

Two months ago, an S&P 500 in positive ground would have seemed impossible, with the stock market having fallen to 12-year lows on fears of a worsening recession. Monday's rally was led by the same financial and housing stocks that were decimated by the credit crisis and the sinking economy, and it added more momentum to a stunning rally that began March 10.

A double dose of good housing news ignited the advance: Pending U.S. home sales rose more than forecast and had their second straight monthly gain, while construction spending rose unexpectedly in March after five straight declines.

With Monday's gain, the S&P has soared 34.1 percent in the 39 trading days since the rally began, its steepest gain over that many days since 1933. The Dow, meanwhile, is up 28.7 percent.

Investors are betting that a stream of slowly improving data since early March mean that the economy, and Wall Street itself, have found a bottom. As they've kept buying, they've also overlooked reports, including millions of lost jobs, that point to continuing economic weakness.

Still, as dramatic as the rally has been, no one is describing the market as euphoric, and analysts are warning that Wall Street might not be able to sustain its advance. Monday's gain came on moderate trading volume, a sign that some investors are still cautious.

"The bear market may not be over," said David Kotok, chairman and chief investment officer of Cumberland Advisors. He pointed out that the real estate market is still weakening and banks are still taking losses on loans.

"We have the makings of a 'V' or the first half of a 'W,' " Kotok said, referring to the shape of the stock market's path. "The upward leg looks the same ... Only time will tell."

The S&P 500, the market barometer preferred by professional investors, is now up 0.4 percent for 2009. That matters not only for market watchers -- many investments including mutual funds either mirror or are measured against the index. The Dow is still down 4 percent for the year.

The S&P 500 index rose 29.72 Monday to 907.24, its first close above 900 since Jan. 8. It had shown a gain for the year only during the first five trading days of January, before the market began a huge drop that carried the S&P 500 and the Dow to their lowest levels since 1997.

The Dow rose 214.33, or 2.6 percent, to 8,426.74.

The Nasdaq composite index rose 44.36, or 2.6 percent, to 1,753.56. The Nasdaq, with a big representation of high-tech and smaller company stocks, has run ahead of the other indexes, and is up 11.8 percent in 2009.

The rally came after the National Association of Realtors said its index of pending sales for previously occupied homes rose 3.2 percent to 84.6. That was well ahead of the 82.1 economists had been expecting and the second month of gains after the index hit a record low in January.

Separately, the Commerce Department said construction spending rose 0.3 percent, the best showing since a similar increase last September. Economists surveyed by Thomson Reuters had expected spending to drop 1.5 percent.

Jerry Webman, chief economist at Oppenheimer Funds Inc., said stocks are rallying because investors aren't fearful as they were months ago that the economy is headed for the abyss.

"There's been this fear that every six months another shoe drops and maybe there isn't a shoe in mid-air right now," he said.

The pending home sales data touched off a rally in home builder stocks. KBR Inc. rose $1.25, or 7.9 percent, to $17.15, while Lennar Corp. rose 88 cents, or 9.3 percent, to $10.34.

The market's enthusiasm will be put to several tests this week including the April employment report, one of the most closely watched economic indicators, which comes out on Friday.

Another concern for the market is the release Thursday of the results of the government's "stress tests" on the 19 largest U.S. financial companies. Some analysts have worried in recent weeks that renewed anxiety about the state of the financial system could upend the market's powerful two-month advance.

But investors set aside some worries about financial companies even as analysts predict that the tests -- designed to determine which banks would need more cash if the recession worsens -- will show that several banks need more capital.

The Financial Times reported Sunday that Citigroup Inc. and Bank of America Corp. are working on plans to raise more than $10 billion each as they negotiate with regulators over the findings of the stress tests.

Citigroup declined to comment, and a Bank of America spokesman called the report "completely inaccurate." Citi rose 23 cents, or 7.7 percent, to $3.20, while Bank of America jumped $1.68, or 19.3 percent, to $10.38.

Investors shrugged off word that regulators told Wells Fargo & Co. to shore up its finances after the "stress tests" showed the bank would have trouble surviving a deeper recession.

Wells Fargo is one of several banks regulators will force to have larger capital buffers to protect them against possible future losses, according to two people familiar with the matter who spoke to The Associated Press on condition of anonymity because of the sensitivity of the process. The company declined to comment.

Wells Fargo rose $4.64, or 23.7 percent, to $24.25.

In other trading, the Russell 2000 index of smaller companies rose 19.84, or 4.1 percent, to 506.82.

About five stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 6.9 billion shares compared with 5.2 billion shares traded Friday.

The economic reports and a big purchase of government debt by the Federal Reserve left bonds little changed. The yield on the benchmark 10-year Treasury note slipped to 3.16 percent from 3.17 percent late Friday.

The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude rose $1.27 to settle at $54.47 on the New York Mercantile Exchange.

Overseas, Germany's DAX rose 2.8 percent and France's CAC-40 gained 2.5 percent. Markets in Japan and London were closed for holidays.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Sometimes a down day on Wall Street can be a good thing -- especially when it shows that investors are carefully weighing their next steps.

Traders collected a few profits Tuesday, leaving the major indexes with fairly modest losses, as the market waited for key reports on the government's assessment of banks' health and the latest numbers on jobs.

But stocks held on to most of their gains from Monday, which saw the Standard & Poor's 500 index recoup the last of its losses since the beginning of the year. That advance came on hopeful signs in the housing market and extended a two-month rally that brought stocks up from 12-year lows.

*The NYSE DOW closed LOWER -16.09 points	-0.19% on TuesdayMonday May 5*
Sym Last........ ........Change..........
Dow	8,410.65	-16.09	-0.19%
Nasdaq	1,754.12	-9.44	-0.54%
S&P 500	903.80	-3.44	-0.38%
30-yr Bond	4.0530%	-0.0120

NYSE Volume	7,860,197,500 (prior day 11,675,107,000)
Nasdaq Volume	2,989,067,250 (prior day 2,588,399,250)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,336.94	+93.72	+2.21%
DAX	4,853.03	-49.42	-1.01%
CAC 40	3,225.00	-12.97	-0.40%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 8,977.37 closed Monday through Wednesday for the "Golden Week" holidays. 
Hang Seng	16,430.08	+49.03	+0.30%
Straits Times	2,074.35	+45.64	+2.25%

http://finance.yahoo.com/news/Stock...75.html?sec=topStories&pos=main&asset=&ccode=

*Stocks slip as traders take profits after surge

Street slips as traders take profits after big jump; 'Stress test' results loom; Dow falls 16*

    * Tim Paradis, AP Business Writers
    * On Tuesday May 5, 2009, 6:10 pm EDT

NEW YORK (AP) -- Sometimes a down day on Wall Street can be a good thing -- especially when it shows that investors are carefully weighing their next steps.

Traders collected a few profits Tuesday, leaving the major indexes with fairly modest losses, as the market waited for key reports on the government's assessment of banks' health and the latest numbers on jobs.

But stocks held on to most of their gains from Monday, which saw the Standard & Poor's 500 index recoup the last of its losses since the beginning of the year. That advance came on hopeful signs in the housing market and extended a two-month rally that brought stocks up from 12-year lows.

"Today's action, just drifting around, is not that surprising given Monday's rally," said Darin Newsom, a senior analyst at DTN in Omaha, Neb.

Many analysts believe it's actually good for the market to pause after a big advance, particularly when Wall Street has had its best two-month performance in nearly 35 years. Tuesday's showing proved that investors aren't buying with abandon, and are considering whether they want to put more money into stocks given the challenges the market faces later this week.

On Thursday, the government will release results of its stress tests on banks, and on Friday, the Labor Department issues some of the most closely watched data on the Street, its monthly tally of job losses and unemployment.

The Dow fell 16.09, or 0.2 percent, to 8,410.65.

The Standard & Poor's 500 index fell 3.44, or 0.4 percent, to 903.80. The modest pullback left the index essentially flat for the year to date. The S&P 500 is widely used as a benchmark for mutual funds and other investments.

The Nasdaq composite index lost 9.44, or 0.5 percent, to 1,754.12, and the Russell 2000 index of smaller companies fell 4.27, or 0.8 percent, to 502.55.

About eight stocks fell for every seven that rose on the New York Stock Exchange, where volume came to 1.5 billion shares.

Investors showed little reaction to the day's economic data, including a private report on the service sector that showed a seventh straight month of contraction. However, the pace of that decline slowed more than expected -- further evidence that the economy's slide is moderating.

Investors are mindful that the stock market typically turns around, on average, about four months ahead of the economy, so stocks tend to rise even when economic data still isn't robust. The S&P 500 is up 33.6 percent since Wall Street's rally began March 10. The Dow is up 28.5 percent.

Liz Ann Sonders, chief investment strategist for brokerage Charles Schwab & Co., said at a press briefing in New York that the economy could have stopped sliding.

"There is some chance -- it may not be more than a slim chance -- but some chance that we may actually already be out of the recession," she said.

Still, the market could easily decide to take a less optimistic view of what it sees.

"Over the past several weeks we've come through a period where all data was interpreted through rose-colored glasses," said Lawrence Creatura, portfolio manager at Federated Investors. "Now, it's a question of whether investors continue to have that perspective."

A keen point of interest for the market right now is what the government will say Thursday when it releases the results of the bank "stress tests," which will determine which banks may need to raise more capital.

The Wall Street Journal reported that about 10 of the 19 financial institutions undergoing the tests will be required to boost their capital levels as a buffer against potential future losses. The report cited several unidentified people familiar with the matter.

Regulators have said no large institution would be allowed to fail, and have pledged government funds if necessary.

Financial stocks were mixed. Bank of America Corp. rose 46 cents, or 4.4 percent, to $10.84, while Wells Fargo & Co. fell 98 cents, or 4 percent, to $23.27.

Dow component Kraft Foods Inc. said its first-quarter profit rose a better-than-expected 10 percent even as sales dropped. Shares of the maker of Velveeta, Oreo cookies and Maxwell House coffee rose 96 cents, or 4 percent, to $25.22.

Bond prices dipped, pushing the yield on the 10-year Treasury note up to 3.17 percent from 3.16 percent late Monday. Mortgage rates were mixed. The average overnight rate for a 30-year fixed rate was 5.03 percent, up from 4.86 percent last week, according to Bankrate.com.

The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude fell 63 cents to settle at $53.84 per barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 rose 2.2 percent, Germany's DAX index fell 1 percent, and France's CAC-40 fell 0.4 percent. Markets in Japan were closed for a holiday.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors are feeling more confident about putting their money in banks.

Financial stocks led the market higher Wednesday as media reports trickled out that indicated balance sheets at the nation's biggest banks might not be as frayed as some had feared.

The word came a day ahead of the formal release of results from government "stress tests" aimed at determining which banks need to raise more capital. Investors relieved to have some answers scooped up shares of most banks, even those expected to have to come up with new money.

*The NYSE DOW closed HIGHER +101.63 points	+1.21% on Wednesday May 6*
Sym Last........ ........Change..........
Dow	8,512.28	+101.63	+1.21%
Nasdaq	1,759.10	+4.98	+0.28%
S&P 500	919.53	+15.73	+1.74%
10 Yr Bond(%)	3.1520%	-0.0050

NYSE Volume	14,244,090,000  (prior day 7,860,197,500 ) 
Nasdaq Volume	3,029,918,500  (prior day 2,989,067,250) 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,396.49	+59.55	+1.37%
DAX	4,880.71	+27.68	+0.57%
CAC 40	3,283.51	+58.51	+1.81%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 8,977.37 closed Monday through Wednesday for the "Golden Week" holidays. 
Hang Seng	16,834.57	+404.49	+2.46%
Straits Times	2,179.03	+104.68	+5.05%

http://finance.yahoo.com/news/Stock...05.html?sec=topStories&pos=main&asset=&ccode=

*Stocks jump as fears ebb about bank 'stress tests'

Stocks end higher as reports douse worries about 'stress tests' on banks; Dow jumps 102*

    * Tim Paradis and Sara Lepro, AP Business Writers
    * On Wednesday May 6, 2009, 4:28 pm EDT

NEW YORK (AP) -- Investors are feeling more confident about putting their money in banks.

Financial stocks led the market higher Wednesday as media reports trickled out that indicated balance sheets at the nation's biggest banks might not be as frayed as some had feared.

The word came a day ahead of the formal release of results from government "stress tests" aimed at determining which banks need to raise more capital. Investors relieved to have some answers scooped up shares of most banks, even those expected to have to come up with new money.

"To me, this rally has been more a recognition that maybe the end of the world is not at hand," said Philip S. Dow, managing director of equity strategy at RBC Wealth Management.

American Express Co., JPMorgan Chase & Co. and Bank of New York Mellon Corp. will not be asked to raise more capital when federal officials announce the test results Thursday afternoon, but Regions Financial Corp. will need to bolster its reserves, according to people briefed on the results. Those people requested anonymity because they were not authorized to discuss the tests.

Citigroup Inc. will need to raise about $5 billion, according to a government official who requested anonymity because he was not authorized to discuss the matter. Earlier news reports put that number closer to $10 billion.

Bank of America Corp. and Wells Fargo & Co. also will be asked to raise capital, people familiar with the matter said earlier this week.

According to preliminary calculations, the Dow Jones industrial average rose 101.63, or 1.2 percent, to 8,512.28. The blue chips closed above the 8,500 mark for the first time since Jan. 9, leaving the Dow down only 3 percent for 2009.

The Standard & Poor's 500 index rose 15.73, or 1.7 percent, to 919.53. The gains pushed the index higher for the year after a rally on Monday helped erase its losses from 2009.

The Nasdaq composite index rose 4.98, or 0.3 percent, to 1,759.10.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

NASDAQ CLIMBS LIKE IT'S 1999

For the week, the Dow rose 4.4 percent and the S&P 500 gained 5.9 percent, while the Nasdaq jumped 1.2 percent.

U.S. stocks rose on Friday, and the Nasdaq capped its longest stretch of weekly gains in a decade as stress test results and reassuring jobs data fueled hopes the worst is over for banks and the economy.

Financial shares led a broad run-up again, a day after regulators said most U.S. banks were sound. The KBW Bank index (Philadelphia:^BKX - News) surged 12.1 percent.

Shares of No. 2 U.S. bank JPMorgan Chase Inc (NYSE:JPM - News) climbed 10.5 percent to $38.94, making the stock the Dow's top gainer. A 3.4 percent gain in oil prices above $58 a barrel bolstered energy companies' shares, led by Chevron Corp (NYSE:CVX - News), which rose 3.5 percent to $70.38.


*The NYSE DOW closed HIGHER +164.80 points	+1.96% on Friday May 8*
Sym Last........ ........Change..........
Dow	8,574.65	+164.80	+1.96%
Nasdaq	1,739.00	+22.76	+1.33%
S&P 500	929.23	+21.84	+2.41%
30-yr Bond	4.2740%	+0.0130

NYSE Volume	9,656,935,000
Nasdaq Volume	3,627,305,250

*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,462.09	+63.41	+1.44%
DAX	4,913.90	+109.80	+2.29%
CAC 40	3,312.59	+61.07	+1.88%

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	9,432.83	+47.13	+0.50%
Hang Seng	17,389.87	+171.98	+1.00%
Straits Times	2,238.21	-3.39	-0.15%

http://finance.yahoo.com/news/Wall-...81.html?sec=topStories&pos=main&asset=&ccode=

*Wall St leaps on bank optimism, jobs data*

NEW YORK (Reuters) - U.S. stocks rose on Friday, and the Nasdaq capped its longest stretch of weekly gains in a decade as stress test results and reassuring jobs data fueled hopes the worst is over for banks and the economy.

Financial shares led a broad run-up again, a day after regulators said most U.S. banks were sound. The KBW Bank index (Philadelphia:^BKX - News) surged 12.1 percent.

Shares of No. 2 U.S. bank JPMorgan Chase Inc (NYSE:JPM - News) climbed 10.5 percent to $38.94, making the stock the Dow's top gainer. A 3.4 percent gain in oil prices above $58 a barrel bolstered energy companies' shares, led by Chevron Corp (NYSE:CVX - News), which rose 3.5 percent to $70.38.

The release of the stress test results "has given people a little bit of confidence that the government can help to solve this part of the financial crisis," said Richard Sparks, senior equities analyst and options trader at Schaeffer's Investment Research in Cincinnati.

"There's a sense that the government actually has a logical plan ... even if things got worse, these companies will be able to survive. That helps bolster confidence in the administration."

NASDAQ CLIMBS LIKE IT'S 1999

For the week, the Dow rose 4.4 percent and the S&P 500 gained 5.9 percent, while the Nasdaq jumped 1.2 percent.

The Nasdaq registered its ninth straight weekly advance, the longest such streak for the index since an 11-week climb in December 1999. Since hitting a 12-year closing low in March, the S&P has surged 37.4 percent, but it is still down 40 percent from its record of October 2007.

Shares of Wells Fargo (NYSE:WFC - News) jumped 13.8 percent to $28.18 and shares of Bank of America (NYSE:BAC - News) , the largest U.S. bank, gained 4.9 percent to $14.17, while Citigroup (NYSE:C - News) climbed 5.5 percent to $4.02.

U.S. regulators told top banks after the close on Thursday to raise $74.6 billion to build a capital cushion that officials hope will restore faith in financial companies and set a course out of the deepest recession in decades.

Several of the large banks have announced equity and debt offerings in an attempt to raise capital.

Bank of America Chief Executive Kenneth Lewis said in an interview on CNBC he anticipates about $10 billion in asset sales and that he is "pretty confident" the bank will do better than the stress test results indicate. Regulators told his bank it needed $33.9 billion of fresh capital.

The 539,000 jobs cut by employers in April was the smallest reduction since October, and hinted at some improvement in the labor market, but the unemployment rate soared to 8.9 percent, the highest since September 1983.

Web search leader Google Inc (NasdaqGS:GOOG - News), up 2.7 percent at $407.33, gave the Nasdaq its biggest boost, followed by Activision Blizzard Inc (NasdaqGS:ATVI - News), up 7.4 percent at $11.81.

Sanford C. Bernstein, a brokerage, raised its price target on Google's stock to $600. Activision, the video-game maker, posted quarterly results that topped Wall Street's estimates and raised its 2009 forecast.

Hopes of an economic recovery pushed U.S. front-month crude up $1.92, or 3.4 percent, to settle at $58.63 a barrel, and gave investors a reason to buy energy shares. Exxon Mobil (NYSE:XOM - News) shares added 2.7 percent to $70.80.

Trading volume was active on the New York Stock Exchange, with about 1.90 billion shares changing hands, above last year's estimated daily average volume of 1.49 billion, while on Nasdaq, about 3.18 billion shares traded, also well above last year's daily average of 2.28 billion.

Advancing stocks outnumbered declining ones by 2,645 to 431 on the NYSE, and by 2,049 to 681 on Nasdaq.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The financial stocks that fueled Wall Street last week ran dry on Monday.

Bank shares dragged the market lower as traders worried that stocks, and particularly the hard-hit financials, had risen too quickly since the stock market's rally began two months ago.

Some of last week's relief over the reassuring marks most banks earned during government "stress tests" evaporated Monday as investors looked ahead.

Four of the banks that Washington determined were sound enough to survive a worsening in the economy said Monday they planned to issue shares to help repay loans the government doled out last fall to lubricate the nation's stalled financial system.



*The NYSE DOW closed LOWER -155.88 points -1.82% on Monday May 11*
Sym Last........ ........Change..........
Dow 8,418.77 -155.88 -1.82% 
Nasdaq 1,731.24 -7.76 -0.45% 
S&P 500 909.24 -19.99 -2.15% 
30-yr Bond 4.1800% -0.0940 

NYSE Volume 7,258,065,000  (prior day 9,656,935,000)
Nasdaq Volume 2,557,303,500  (prior day 3,627,305,250)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,435.50 -26.60 -0.60% 
DAX 4,866.91 -46.99 -0.96% 
CAC 40 3,248.67 -63.92  


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,451.98 +19.15 +0.20% 
Hang Seng 17,087.95 -301.92 -1.74% 
Straits Times 2,166.10 -72.11 -3.22% 

http://finance.yahoo.com/news/Finan...54.html?sec=topStories&pos=main&asset=&ccode=

*Financials pull stocks lower after fanning rally

Investors put 2-month rally on hold; Financials sink as banks raise capital; Dow falls 156 *
Tim Paradis, AP Business Writer
On Monday May 11, 2009, 5:34 pm EDT

NEW YORK (AP) -- The financial stocks that fueled Wall Street last week ran dry on Monday.

Bank shares dragged the market lower as traders worried that stocks, and particularly the hard-hit financials, had risen too quickly since the stock market's rally began two months ago.

Some of last week's relief over the reassuring marks most banks earned during government "stress tests" evaporated Monday as investors looked ahead.

Four of the banks that Washington determined were sound enough to survive a worsening in the economy said Monday they planned to issue shares to help repay loans the government doled out last fall to lubricate the nation's stalled financial system.

While it's a welcome sign that banks can again turn to Wall Street to raise money by selling stock, the reality of extra shares pouring into the market weighed on financial stocks. Technology shares fared better after Microsoft Corp. moved ahead with its first-ever debt offering.

The Dow Jones industrial average fell 156 points. The KBW Bank Index, which tracks 24 of the nation's largest banks, slid 7.1 percent after jumping 12.1 percent Friday.

U.S. Bancorp, Capital One Financial Corp. and BB&T Corp. said they hoped to raise $1.5 billion to $2.5 billion through stock sales. Bank of New York Mellon Corp. said it would offer $1 billion in stock.

Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York, noted that the Dow has risen about 30 percent since March -- about twice as much as the market might do in a full year of strong gains.

"To take a break here is healthy," he said.

The sell-off wasn't across the board and trading was light compared with last week. That suggests many buyers were taking a break, and not that sellers were out in force.

Two stocks fell for every one that rose on the New York Stock Exchange as analysts said the market was overdue for a break. Last week alone, Wells Fargo & Co. jumped 43.7 percent and JPMorgan Chase & Co. rose 19.9 percent.

The Dow fell 155.88, or 1.8 percent, to 8,418.77. The Standard & Poor's 500 index fell 19.99, or 2.2 percent, to 909.24, while the Nasdaq composite index fell 7.76, or 0.5 percent, to 1,731.24.

Wall Street will continue to keep watch over banks but also will be looking for insights into the health of consumers as traders search for the next catalyst that could continue to pull the market from the 12-year lows of early March.

First-quarter earnings figures are expected this week from Wal-Mart Stores Inc., Macy's Inc. and other retailers and the government reports retail sales for April.

Consumer spending accounts for more than two-thirds of U.S. economic activity so investors will be eager for forecasts from retailers to help determine whether the economy is stabilizing as investors have been betting the past two months.

Last week, with the help of financials, the Dow gained 4.4 percent. The S&P 500 index rose 5.9 percent and the Nasdaq gained 1.2 percent.

Even with Monday's slide, the S&P 500 index is up 34.4 percent from early March. however, it is still down 42 percent from its high in October 2007.

U.S. Bancorp fell $2.04, or 9.9 percent, to $18.50, while Capital One fell $4.24, or 13.5 percent, to $27.10. BB&T fell $1.99, or 7.6 percent, to $24.34.

KeyCorp, which is one of the 10 big banks the government said has to raise more capital to protect against possible loan losses, also said it would offer up to $750 million of its shares. Key fell 69 cents, or 9.9 percent, to $6.28.

Microsoft didn't say how much it hopes to raise in its offering, but in September the company's board said the company could take on as much as $6 billion in debt. The software maker, which has more than $25 billion in cash, said it plans to use the money for working capital. The stock slipped 10 cents to $19.32.

"When Microsoft comes in and does a deal I think it's a vote of confidence in technology," said Nick Kalivas, vice president of financial research at MF Global in Chicago. He noted that the money it raises could allow Microsoft to go on a shopping spree to acquire attractive technology companies.

Dish Network jumped $2.61, or 17 percent, to $17.92 after the company said its first-quarter profit rose 21 percent as revenue climbed partly on equipment sales.

Energy stocks fell as light, sweet crude slipped 13 cents to $58.50 per barrel. Chevron Texaco fell $2.38, or 3.4 percent, to $68, while Occidental Petroleum Corp. fell $2.44, or 3.7 percent, to $62.88.

Some analysts say the rally is doomed to collapse because investors are becoming too quick to declare that the economy's problems are receding.

Christian Bendixen, director of technical research at Bay Crest Partners LLC in New York, said the economy remains troubled beyond what many analysts concede and that he expects the market will tumble again and perhaps breach the lowest levels of early March.

"It's time to be a little more defensive," he said, pointing to areas like consumer staples, health care and energy stocks.

Bond prices mostly rose. The yield on the benchmark 10-year Treasury note fell to 3.17 percent from 3.29 percent late Friday.

The dollar was mixed against other major currencies, while gold prices fell.

Volume on the NYSE came to 1.5 billion shares.

Overseas, Britain's FTSE 100 fell 0.6 percent, Germany's DAX index lost 1 percent, and France's CAC-40 slid 1.9 percent. Japan's Nikkei stock average rose 0.2 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Wall Street is back on the defensive.

Stocks ended mixed but well off their lows Tuesday as early concerns about a barrage of stock offerings eased and rising oil prices lifted energy stocks. The Dow Jones industrials rose 50 points, while broader indicators fell.

Investors turned to defensive corners of the market, driving up shares of drugmakers like Pfizer Inc. and food and drink producers like Coca-Cola Inc., which tend to hold up better in economic downturns.

The fluctuations came as some traders worried that the economic recovery won't be as brisk as hoped when stocks were posting big gains over the past eight weeks. Stock offerings from companies trying to raise cash has stirred concerns about the loss in value that existing shares would incur as more shares are issued.

*The NYSE DOW closed HIGHER +50.34 points +0.60% on Tuesday May 12*
Sym Last........ ........Change..........
Dow 8,469.11 +50.34 +0.60% 
Nasdaq 1,715.92 -15.32 -0.88% 
S&P 500 908.35 -0.89 -0.10% 
30-yr Bond 4.16% -0.02 

NYSE Volume 8,370,044,500  (prior day 7,258,065,000)
Nasdaq Volume 2,536,077,750  (prior day 2,557,303,500)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,425.54 -9.96 -0.22% 
DAX 4,854.11 -12.80 -0.26% 
CAC 40 3,231.10 -17.57 -0.54% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,298.61 -153.37 -1.62% 
Hang Seng 17,153.64 +65.69 +0.38% 
Straits Times 2,178.13 +12.03   

http://finance.yahoo.com/news/Inves...64.html?sec=topStories&pos=main&asset=&ccode=

*Investors hunt defensive stocks as rally stalls

Wall Street ends mixed; investors find little as they seek next catalyst for 2-month rally *

Tim Paradis and Stephen Bernard, AP Business Writers
On Tuesday May 12, 2009, 6:00 pm EDT

NEW YORK (AP) -- Wall Street is back on the defensive.

Stocks ended mixed but well off their lows Tuesday as early concerns about a barrage of stock offerings eased and rising oil prices lifted energy stocks. The Dow Jones industrials rose 50 points, while broader indicators fell.

Investors turned to defensive corners of the market, driving up shares of drugmakers like Pfizer Inc. and food and drink producers like Coca-Cola Inc., which tend to hold up better in economic downturns.

The fluctuations came as some traders worried that the economic recovery won't be as brisk as hoped when stocks were posting big gains over the past eight weeks. Stock offerings from companies trying to raise cash has stirred concerns about the loss in value that existing shares would incur as more shares are issued.

But the dip also brought investors looking to jump into a market that has rallied more than 30 percent since early March.

"You have people who missed this mammoth rally and now those people are taking the opportunity on any pullback to buy," said Jeffrey Frankel, president of Stuart Frankel & Co.

The financial stocks that pounded the market to 12-year lows in March and then led the bounce higher fell for a second day. Even after sliding this week, bank shares have roughly doubled since early March, as measured by the KBW Bank Index.

Investors also pulled money from technology stocks after the Nasdaq composite index closed at a six-month high last week. The slide Monday and mixed finish Tuesday makes it difficult to tell whether Wall Street might be able to restart its stalled two-month rally.

The Dow rose 50.34, or 0.6 percent, to 8,469.11 after falling 155 on Monday. The S&P 500 index slipped 0.89, or 0.1 percent, to 908.35 and the Nasdaq fell 15.32, or 0.9 percent, to 1,715.92.

Analysts said a break in the market's ascent had been overdue. The jump came as economic and corporate reports signaled the economy could be stabilizing.

Matt Lloyd, chief investment strategist at Advisors Asset Management Inc., expects the rally will resume and that a slowdown is healthy.

"We need to kind of walk at a brisk pace as opposed to sprint," he said.

The market retreated Monday after four banks announced plans to raise capital by selling common stock.

How well the market can absorb the new shares likely will be an important tests of its health, some analysts say. TrimTabs Investment Research estimates companies will introduce at least $50 billion in new stock into the market this month. That would be the highest since May 2001.

The pace of offerings could be a good sign, analysts said. Months ago, companies whose shares had been pummeled wouldn't have turned to the stock market for cash.

"Longer term, bigger picture, it is one of those underpinnings of strength," said Steve Sachs, director of trading at Rydex Investments.

Traders grew jittery Tuesday after Anadarko Petroleum Corp.'s stock fell below the $45.50 offering price for a sale of 30 million shares. But the stock ended above that level, falling $2.93, or 6 percent, to $45.91.

Some banks selling stock fell for a second day. Regions Financial tumbled 57 cents, or 9.6 percent, to $5.35, while SunTrust Banks Inc. fell $2.30, or 12.4 percent, to $16.21.

Investors in the nation's big automakers also worried about seeing the value of their shares diluted. Ford Motor Co., which hasn't taken government aid, fell $1.07, or 17.6 percent, to $5.01 after announcing a stock offering.

GM shares tumbled to their lowest level since 1933 as investors worried that their shares would lose value if more are issued or the company declares bankruptcy. The company faces a June 1 restructuring deadline.

GM, one of the 30 stocks that make up the Dow industrials, fell 29 cents, or 20.1 percent, to $1.15 and traded as low as $1.09.

In other trading, Dow components Pfizer rose 78 cents, or 5.5 percent, to $14.93, while Coca Cola rose $1.65, or 3.9 percent, to $44.40.

Homebuilders fell after the National Association of Realtors said home prices slid in nearly nine out of every 10 U.S. cities in the first three months of the year as first-time buyers in search of bargains dominated the market.

Pulte Homes Inc. fell 52 cents, or 4.6 percent, to $10.71, while Toll Brothers Inc. fell 48 cents, or 2.4 percent, to $19.82.

Many retailers fell a day ahead of a government report on retail sales. Macy's Inc., which is expected to report quarterly results Wednesday, fell 34 cents, or 2.7 percent, to $12.35.

Energy stocks rose as crude rose above $60 a barrel for the first time since early November before settling on the New York Mercantile Exchange up 35 cents at $58.85 per barrel.

Exxon Mobil Corp. rose 1.55, or 2.2 percent, to $70.82, while Schlumberger Ltd. rose 98 cents, or 1.8 percent, to $55.75.

In other trading, the Russell 2000 index of smaller companies fell 6.76, or 1.4 percent, to 495.18.

Three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume came to 6.7 billion shares compared with 5.9 billion shares traded Monday.

Bond prices fell but pulled off their lows after the Federal Reserve bought about $6 billion in government debt Tuesday as part of its effort to drive down interest rates and reduce the costs of loans like mortgages.

The yield on the benchmark 10-year Treasury note rose to 3.18 percent from 3.17 percent late Monday.

The dollar was mixed against other major currencies, while gold prices rose.

Overseas, Britain's FTSE 100 slipped 0.2 percent, Germany's DAX index lost 0.3 percent, and France's CAC-40 fell 0.5 percent. Japan's Nikkei stock average fell 1.6 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
54,500

Investors are looking at the economy more skeptically.

Stocks retreated more than 2 percent on Wednesday and bond prices rose after two reports suggested the economy is not bouncing back as quickly as investors hoped.

The Commerce Department said retail sales unexpectedly fell in April for the second straight month, while RealtyTrac Inc. reported a troubling rise in home foreclosures.

Investors are mindful that the Dow Jones industrial average spiked 31 percent from its early March lows -- the biggest jump in such a short span since the 1930s. After Wednesday's decline the index is still up 26.5 percent from March 9, but investors are now wondering if the market will see a sharper pullback.

*The NYSE DOW closed LOWER -184.22 points -2.18% on Wednesday May 13*
Sym Last........ ........Change..........
Dow 8,284.89 -184.22 -2.18% 
Nasdaq 1,664.19 -51.73 -3.01% 
S&P 500 883.92 -24.43 -2.69% 
30-yr Bond 4.0850% -0.0720 

NYSE Volume 8,468,682,000  (prior day 8,370,044,500)
Nasdaq Volume 2,426,824,250  (prior day 2,536,077,750)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,331.37 -94.17 -2.13% 
DAX 4,727.61 -126.50 -2.61% 
CAC 40 3,152.90 -78.20 -2.42% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,340.49 +41.88 +0.45% 
Hang Seng 17,059.62 -94.02 -0.55% 
Straits Times 2,185.29 +7.16 +0.33% 

http://finance.yahoo.com/news/Stock...10.html?sec=topStories&pos=main&asset=&ccode=

*Stocks fall on weak retail sales, foreclosure jump

Wall Street pulls back after weaker-than-expected retail sales report, jump in foreclosures *

Madlen Read and Stephen Bernard, AP Business Writers
On Wednesday May 13, 2009, 5:41 pm EDT
NEW YORK (AP) -- Investors are looking at the economy more skeptically.

Stocks retreated more than 2 percent on Wednesday and bond prices rose after two reports suggested the economy is not bouncing back as quickly as investors hoped.

The Commerce Department said retail sales unexpectedly fell in April for the second straight month, while RealtyTrac Inc. reported a troubling rise in home foreclosures.

Investors are mindful that the Dow Jones industrial average spiked 31 percent from its early March lows -- the biggest jump in such a short span since the 1930s. After Wednesday's decline the index is still up 26.5 percent from March 9, but investors are now wondering if the market will see a sharper pullback.

Analysts say a drop of 10 percent from the market's recent peak would hardly be surprising, especially since recent economic readings have failed to beat forecasts.

"Overall, it's just a market that's due for a pause, due for a pullback, due for consolidation," said Quincy Krosby, chief investment strategist for The Hartford. "You don't want markets to skyrocket. The higher you go, the deeper you fall."

Few analysts, however, anticipate the stock market to sink lower than it did in March.

"What we've done over the past month-and-a-half is remove this idea of Armageddon," said Charlie Smith, chief investment officer at Fort Pitt Capital.

The Dow fell 184.22, or 2.2 percent, to 8,284.89.

Broader stock indicators sank even more sharply. The Standard & Poor's 500 index fell 24.43, or 2.7 percent, to 883.92, while the Nasdaq composite index declined 51.73, or 3 percent, to 1,664.19.

During the market's two-month advance, investors grew accustomed to data indicating that the economy, while not growing, was at least bottoming out. This week, unexpectedly worse data has thrown a wrench into the works.

On Wednesday, economists predicted April retail sales would be flat, but instead they fell, and March's sales decline was revised to an even larger drop.

Macy's Inc. offered another sign that consumer spending is not on the rebound. The department store operator said its loss in the first-quarter widened from a year ago to $88 million. Macy's fell 83 cents, or 6.7 percent, to $11.52.

Meanwhile, the main driver of the recession -- the collapsing housing market -- has yet to turn around. RealtyTrac data said April's foreclosures were up 32 percent from a year ago, and up slightly from March. It was the second straight month that more than 340,000 U.S. households received a foreclosure filing.

More economic data is on the way this week. Nicholas Colas, chief market strategist at BNY ConvergEx, said Thursday's weekly unemployment claims report is weighing on the market. The release will be the first to fully incorporate plant closings at Chrysler LLC -- making it a "real wild card," he said.

"As a trader," he said, "do you want to build positions ahead of the number?"

Financial stocks once again drove the market. The KBW Bank Index, which tracks 24 of the nation's largest banks, fell 6.5 percent.

Krosby pointed to both stock and bond offerings by banks, which dilute current shareholders, and news that the Obama administration wants a say in executive pay at financial institutions.

Bond prices rose on Wednesday's negative economic news, pushing the yield on the benchmark 10-year Treasury note, a benchmark for key borrowing rates such as home mortgages, down to 3.12 percent from 3.18 percent late Tuesday. The yield on the three-month T-bill slipped to 0.16 percent from 0.17 percent.

About 9 stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 6.7 billion shares, little changed from Tuesday.

The dollar mostly rose against other major currencies, while gold prices also rose.

The Russell 2000 index of smaller companies fell 23.36, or 4.7 percent, to 471.82.

Overseas, Japan's Nikkei stock average rose 0.5 percent. Britain's FTSE 100 declined 2.1 percent, Germany's DAX index declined 2.6 percent, and France's CAC-40 fell 2.4 percent.

The biggest gainer in the Dow was General Motors Corp., which dropped to its lowest price since April 1933, and then attracted bargain hunters. GM ended up 6 cents, or 5.2 percent, at $1.21.

CME Group Inc., the parent company of the Chicago Board of Trade and the Chicago Mercantile Exchange, rose $15.62, or 6 percent, to $274.10. A draft letter to Congress said the Treasury Department wants a central electronic-based system to track the buying and selling of over-the-counter derivatives.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors put aside jitters about the economy to do a little bargain hunting.

Stocks rose Thursday after three mostly down days as traders bought beaten-down financial and technology stocks. The buying was subdued after a worse-than-expected weekly unemployment report added to concerns that the economic recovery might not come as quickly as hoped.

The market is down sharply this week as investors worry that the optimism that fed a massive spring rally might have been premature. The Standard & Poor's 500 index is still 32 percent above the 12-year low it hit in early March.

The Dow Jones industrial average ended Thursday up 46 points, but lagged gains by the S&P 500 index and Nasdaq composite index. Financial stocks rose after falling earlier in the week and lifted the KBW Bank Index 3.7 percent.

*The NYSE DOW closed HIGHER +46.43 points +0.56% on Thursday May 14*
Sym Last........ ........Change..........
Dow 8,331.32 +46.43 +0.56% 
Nasdaq 1,689.21 +25.02 +1.50% 
S&P 500 893.07 +9.15 +1.04% 
30-yr Bond 4.0660% -0.0190 

NYSE Volume 7,381,978,000  (prior day 8,468,682,000)
Nasdaq Volume 2,224,581,500  (prior day 2,426,824,250)
*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,362.58 +31.21 +0.72% 
DAX 4,738.47 +10.86 +0.23% 
CAC 40 3,156.29 +3.39 +0.11% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,093.73 -246.76 -2.64% 
Hang Seng 16,541.69 -517.93 -3.04% 
Straits Times 2,122.11 -63.18 -2.89% 

http://finance.yahoo.com/news/Bank-...96.html?sec=topStories&pos=main&asset=&ccode=

*Bank, technology stocks lure in bargain hunters

Investors pick up shares of financial, technology companies after week's slide; Dow rises 46 *
Tim Paradis and Stephen Bernard, AP Business Writers
On Thursday May 14, 2009, 5:26 pm EDT

NEW YORK (AP) -- Investors put aside jitters about the economy to do a little bargain hunting.

Stocks rose Thursday after three mostly down days as traders bought beaten-down financial and technology stocks. The buying was subdued after a worse-than-expected weekly unemployment report added to concerns that the economic recovery might not come as quickly as hoped.

The market is down sharply this week as investors worry that the optimism that fed a massive spring rally might have been premature. The Standard & Poor's 500 index is still 32 percent above the 12-year low it hit in early March.

The Dow Jones industrial average ended Thursday up 46 points, but lagged gains by the S&P 500 index and Nasdaq composite index. Financial stocks rose after falling earlier in the week and lifted the KBW Bank Index 3.7 percent.

Technology shares gained after software maker CA Inc. said its fiscal fourth-quarter earnings rose as cost-cutting compensated for a drop in revenue.

The advance came as the market grappled with another reminder of the strained job market. The Labor Department's weekly data showed more workers filing for unemployment benefits. New claims jumped to 637,000, above what economists had forecast.

The overall number of people seeking unemployment benefits grew faster than expected, rising to 6.6 million, while continuing claims hit a 15th straight weekly record.

Analysts had expected some rebound after stocks tumbled Wednesday, sending the S&P 500 index down 2.7 percent. The market was shaken by a Commerce Department report that retail sales fell unexpectedly in April for the second straight month, and by a separate report that showed home foreclosures rising.

The twin hits to two key areas of the economy -- consumer spending and the housing market -- have led investors to drop stocks this week and seek the shelter of bonds. That put on hold a powerful rally that carried the market through March and April.

"Expectations got overblown and the harsh unfortunate reality is that unemployment continues to climb and that consumers remain under pressure," said Stuart Schweitzer, global markets strategist at J.P. Morgan's Private Bank. "The green shoots of recent weeks are minor compared with the field of dandelions still present in the economy."

The Dow rose 46.43, or 0.6 percent, to 8,331.32. The S&P 500 index rose 9.15, or 1 percent, to 893.07, while the Nasdaq rose 25.02, or 1.5 percent, to 1,689.21.

More than two stocks rose for every one that fell on the New York Stock Exchange, where volume came to a light 1.5 billion shares.

"I think we're at a crossroads. I'm looking for more evidence to say that this is a sustainable rally," said Jack Ablin, chief investment officer at Harris Private Bank.

That evidence may be hard to come by in the next two weeks. With first-quarter earnings reports winding down, the government's stress test results out of the way and few economic reports expected, investors may feel like they're in a bit of a data vacuum. And when there's little information to go on, a nervous market tends to fall.

Regional banks Fifth Third Bancorp and Huntington Bancshares Inc. showed some of the strongest gains. Fifth Third rose 50 cents, or 7.1 percent, to $7.52. Huntington rose 31 cents, or 7 percent, to $4.72.

CA, which makes software to run information technology systems, rose 95 cents, or 5.5 percent, to $18.27.

Wal-Mart Stores Inc. fell 93 cents to $49.10 after its first-quarter results failed to excite the market. Kohl's Corp. fell 71 cents to $41.24 after its report. But retailer Urban Outfitters Inc. rose 21 cents to $19.51 after posting results that beat forecasts.

Michael Strauss, chief economist and market strategist at Commonfund, said some traders had been expecting an increase in weekly unemployment claims because of planned shutdowns among the nation's automakers.

Ford Motor Co. rose 20 cents, or 4 percent, to $5.16 after its chief executive, Alan Mulally, said at the company's annual meeting the automaker is slashing costs and boosting development of safe, fuel-efficient vehicles. Shareholders approved the company's request to issue stock to help pay some of its health care obligations to retired autoworkers.

In other trading, the Russell 2000 index of smaller companies rose 8.89, or 1.9 percent, to 480.71.

Bond prices were mixed after rising a day earlier. The yield on the 10-year Treasury note, a widely used benchmark for loans including home mortgages, fell to 3.09 percent from 3.12 percent late Wednesday.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude rose 60 cents to settle at $58.62 per barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 rose 0.7 percent, Germany's DAX index advanced 0.2 percent, and France's CAC-40 rose 0.1 percent. Japan's Nikkei stock average fell 2.6 percent.

54,550


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

For the week, the Dow fell 3.6 percent, the S&P 500 index lost 5 percent and the Nasdaq slid 3.4 percent.

On Wall Street, not so bad is no longer good enough.

Stocks extended the week's losses Friday, further chilling the market's spring rally. Traders who last week sent stocks higher on economic news that wasn't as bad as expected are now selling. And analysts say it will take more upbeat data to restart the rally that swept major stock indicators up more than 30 percent from 12-year lows in early March.

The Labor Department said Friday that consumer prices in April were flat, as economists predicted. Manufacturing activity in the New York area and industrial production contracted less than economists expected. And a Reuters/University of Michigan index of consumer sentiment rose to an eight-month high in May, a possible harbinger of improved consumer spending.

*The NYSE DOW closed HIGHER -62.68 points -0.75% on Friday May 15*
Sym Last........ ........Change..........
Dow 8,268.64 -62.68 -0.75% 
Nasdaq 1,680.14 -9.07 -0.54% 
S&P 500 882.88 -10.19 -1.14% 
30-yr Bond 4.0830% +0.0170 

NYSE Volume 6,497,005,500  (prior day 7,381,978,000)
Nasdaq Volume 2,124,397,500  (prior day 2,224,581,500)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,348.11 -14.47 -0.33% 
DAX 4,737.50 -0.97 -0.02% 
CAC 40 3,169.05 +12.76 +0.40% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,265.02 +171.29 +1.88% 
Hang Seng 16,790.70 +249.01 +1.51% 
Straits Times 2,139.78 +17.67 +0.83% 

http://finance.yahoo.com/news/Stock...68331.html?sec=topStories&pos=2&asset=&ccode=

*Stocks extend week's losses after 2-month rally

Stocks slide as economic data top forecasts but leave traders unimpressed after 2-month rally *
Tim Paradis, AP Business Writer
On Friday May 15, 2009, 5:43 pm EDT

NEW YORK (AP) -- On Wall Street, not so bad is no longer good enough.

Stocks extended the week's losses Friday, further chilling the market's spring rally. Traders who last week sent stocks higher on economic news that wasn't as bad as expected are now selling. And analysts say it will take more upbeat data to restart the rally that swept major stock indicators up more than 30 percent from 12-year lows in early March.

The Labor Department said Friday that consumer prices in April were flat, as economists predicted. Manufacturing activity in the New York area and industrial production contracted less than economists expected. And a Reuters/University of Michigan index of consumer sentiment rose to an eight-month high in May, a possible harbinger of improved consumer spending.

But even with this handful of silver-lining economic data, traders found little incentive to buy. Instead, a drop in the price of oil hit energy companies, while financial stocks slid on worries that the economic recovery could be further off than traders had been betting in recent months.

"This market is tired," said Joe Saluzzi, co-head of equity trading at Themis Trading LLC.

Wall Street's rally has also hit a lull now that the government's stress tests of banks are done, earnings reports are winding down and the first wave of April economic data has been released. Traders aren't clear what the next catalyst might be to pump the market higher -- or whether the gains might erode.

"We've gotten through the panic point, and what will get us to the next level is seeing the economy actually grow. It'll happen, but it's a matter of when," said Douglas Kreps, managing director at Fort Pitt Capital Group.

The Dow Jones industrial average fell 62.68, or 0.8 percent, to 8,268.64. The broader Standard & Poor's 500 index fell 10.19, or 1.1 percent, to 882.88, and the Nasdaq composite index fell 9.07, or 0.5 percent, to 1,680.14.

For the week, the Dow fell 3.6 percent, the S&P 500 index lost 5 percent and the Nasdaq slid 3.4 percent.

With the S&P 500 index up 30.5 percent from the lows of two months ago, many traders are finding it a safer bet to cash in some of their gains. About two stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 5.3 billion shares, compared with 6.8 billion shares traded Thursday.

Not all the news of the day fit with the idea that the economy is sewing up its holes.

The Treasury Department agreed to extend billions in federal bailout funds to six major life insurers. The move was positive because it means the insurers will get more capital, but negative because it implied that the insurers' problems posed a serious risk to the financial system.

Among the companies, the Hartford Financial Services Group Inc. said it is eligible for $3.4 billion from the Troubled Asset Relief Program, or TARP, while Lincoln National Corp. said it has been initially approved for a $2.5 billion injection.

Hartford fell 15 cents to $14.60, while Lincoln National fell 12 cents to $16.12.

Investors also remained concerned about the auto industry. General Motors Corp., as expected, began notifying 1,100 U.S. dealers Friday that their franchise agreements would not be renewed. GM said the closures -- which come a day after Chrysler LLC cut ties with a quarter of its dealers -- must be made as part of its government-ordered restructuring plan. GM fell 6 cents, or 5.2 percent, to $1.09.

Energy stocks weighed on the market as oil slid $2.28 to settle at $56.34 a barrel on the New York Mercantile Exchange. Schlumberger Ltd. fell $1.88, or 3.5 percent, to $52.05, while Devon Energy Corp. fell $3.51, or 5.7 percent, to $58.50.

FirstEnergy Corp. fell $3.87, or 9.6 percent, to $36.47 after the regional electric utility's energy supply and pricing auction in Ohio came in below analyst expectations. The stock traded as low as $35.26, a level not seen since December 2003.

The market hit its highest levels of the rally last Friday as investors bought when news, including April employment figures, wasn't as grim as feared. This week, however, the government surprised Wall Street with its report that retail sales fell in April.

Dreyfus Chief Investment Officer Phil Maisano contends the break makes sense. He said the market is fairly valued where it stands and is now factoring in a severe recession instead of a depression.

"We're clearly not going to have any form of a V-shaped recovery," Maisano said, referring to the pace of the rebound from the economy's tumble in the fall. "It will be a longer slog."

Even with the government's bank rescue and economic stimulus spending, Maisano expects the economy will still have a tough recovery.

"It was virtually a tourniquet. It stopped the bleeding but it doesn't have much effect on the healing at the moment," he said.

Next week, investors will get data on housing sales on Monday, on housing construction a day later and on regional manufacturing on Thursday. The reports could help drive the market but many analysts say more clear signs of an economic recovery, not just stabilizing, will be what is needed to propel Wall Street.

In other trading Friday, the Russell 2000 index of smaller companies fell 4.87, or 1 percent, to 475.84.

Bond prices fell after the inflation data. The yield on the 10-year Treasury note rose to 3.14 percent from 3.09 percent late Thursday.

The dollar rose against most other major currencies, while gold prices rose.

Overseas, Britain's FTSE 100 fell 0.3 percent, Germany's DAX index slipped less than 0.1 percent, and France's CAC-40 rose 0.4 percent. Japan's Nikkei stock average rose 1.9 percent.

The Dow Jones industrial average closed the week down 306.01, or 3.6 percent, at 8,268.64. The Standard & Poor's 500 index fell 46.35, or 5 percent, to 882.88. The Nasdaq composite index fell 58.86, or 3.4 percent, to 1,680.14.

The Russell 2000 index, which tracks the performance of small company stocks, fell 35.98, or 7 percent, for the week to 475.84.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 9,004.41, down 504.67, or 5.3 percent, for the week. A year ago, the index was at 14,404.22.

579


----------



## sandybeachs

fairly weak result today.

seems as though investors were taking in a few things that had happened during the week which weighed heavily on Fridays result

Equities took a breather this past week, retreating after two weeks of advances and a gain in sentiment from getting past stress tests for major banks.  Several factors came into play.  First, investors began to worry about increased supply as many firms – especially financials - are issuing new stock to raise capital.  In fact, major banks raised about $30 billion in new capital this past week. Considerable profit taking took hold on Monday, also, after the prior Friday’s stress test related gains.

The biggest decline in stocks, however, was on Wednesday after the Commerce Department announced an unexpected drop in retail sales, calling into question how much the recession is easing.  Equities picked and chose which parts of Thursday's jobless claims report to focus on.  Although continuing claims surged and hit another record high, equities took heart that initial claims rose only moderately which boosted stocks.  But by Friday, markets were soaking in the impact of Chrysler dropping 789 dealerships nationwide and GM announcing it will not renew contracts with some 1,100 dealerships in 2010. Equities, in turn, dipped on the final day of the week.

above from: 2009 Economic Calendar


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Reassuring news about housing and banking on Monday convinced investors to return to the stock market.

The Dow Jones industrial average shot up 235 points, making up three-quarters of last week's losses. All the major indexes rose about 3 percent.

A better-than-expected profit report from Lowe's Cos., an uptick in homebuilder sentiment and positive comments from analysts about U.S. banks revived investors' confidence in an economic rebound. Stocks fell sharply last week on worries that a recovery might be further off than hoped, interrupting a rally that has left the Standard & Poor's 500 index up 34.5 percent since March 9.


*The NYSE DOW closed HIGHER +235.44 points +2.85%  on Monday May 18*
Sym Last........ ........Change.......... 
Dow 8,504.08 +235.44 +2.85% 
Nasdaq 1,732.36 +52.22 +3.11% 
S&P 500 909.71 +26.83 +3.04% 
30-yr Bond 4.1760% +0.0930 

NYSE Volume 6,794,831,000  (prior day 6,497,005,500)
Nasdaq Volume 2,037,372,620  (prior day 2,124,397,500)


NYSE Volume 6,497,005,500 (prior day 7,381,978,000)
Nasdaq Volume 2,124,397,500 (prior day 2,224,581,500)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,446.45 +98.34 +2.26% 
DAX 4,851.96 +114.46 +2.42% 
CAC 40 3,245.39 +76.34 +2.41% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,038.69 0.00 0.00% Japan's Nikkei stock average fell 2.4 percent.
Hang Seng 17,022.91 0.00 0.00% 
Straits Times 2,176.98 0.00 0.00% 

http://finance.yahoo.com/news/Stock...05.html?sec=topStories&pos=main&asset=&ccode=

*Stocks jump on renewed optimism on housing, banks

Wall Street rises as Lowe's profit beats forecast, analysts issue upbeat bank comments *
Sara Lepro and Madlen Read, AP Business Writers
On Monday May 18, 2009, 5:41 pm EDT

NEW YORK (AP) -- Reassuring news about housing and banking on Monday convinced investors to return to the stock market.

The Dow Jones industrial average shot up 235 points, making up three-quarters of last week's losses. All the major indexes rose about 3 percent.

A better-than-expected profit report from Lowe's Cos., an uptick in homebuilder sentiment and positive comments from analysts about U.S. banks revived investors' confidence in an economic rebound. Stocks fell sharply last week on worries that a recovery might be further off than hoped, interrupting a rally that has left the Standard & Poor's 500 index up 34.5 percent since March 9.

Steep drops in home values have been at the heart of the economy's troubles, slicing into consumers' wealth and saddling banks with huge losses. Analysts believe that stability in the housing and banking industries are imperative for the economy to rebound.

"There's a realization that things are going to get better," said James Cox, managing partner at Harris Financial Group. "That's the main theme of the market over the last couple of weeks."

Despite Monday's bounce, however, the market is expected to remain volatile as investors look for signs that the economy is actually recovering -- not just slowing its descent.

At the start of the market's upswing in March, signs of stabilization were enough to encourage investors to buy stocks. Linda Duessel, equity market strategist at Federated Investors, said the rally has been driven by "less bad" information.

"Probably, we'll get bored with that as the months progress," Duessel said. "We'll need something better to move the market."

The Dow rose 235.44, or 2.9 percent, to 8,504.08. That was the biggest point gain since a 246-point jump on April 9.

The S&P 500 index rose 26.83, or 3 percent, to 909.71, putting it back into positive territory for the year. The Nasdaq composite index rose 52.22, or 3.1 percent, to 1,732.36.

Government bond prices fell, pushing the yield on the 10-year Treasury note -- a widely used benchmark for home mortgages and other loans -- up to 3.24 percent from 3.14 percent late Friday.

Last week, the Dow slid 3.6 percent, the S&P 500 index lost 5 percent and the Nasdaq fell 3.4 percent as a weak retail sales report and an uptick in job losses had investors questioning the merits of a two-month rally off of 12-year lows.

But U.S. and European trading started on strong footing Monday after India's stock market rose an unprecedented 17 percent. Investors viewed the country's election results as paving the way for economic reforms.

U.S. stocks got a boost when Lowe's Cos., the nation's second-largest home improvement chain, posted earnings that easily beat Wall Street's forecasts and raised its full-year profit outlook.

Lowe's closed up $1.49, or 8.1 percent, at $19.94.

Buying accelerated later in the day when the National Association of Home Builders said its housing market index rose for the second month in a row in May. The report reflected growing optimism among builders, an encouraging sign that housing activity might be picking up.

Homebuilding stocks soared on the news. Beazer Homes USA Inc. rose 47 cents, or 20 percent, to $2.81, while Lennar Corp. rose $1.21, or 13.7 percent, to $10.02.

Financial stocks also surged after a spate of analysts issued promising outlooks for the troubled banking industry.

Rochdale Securities analyst Richard Bove noted the potential for "explosive earnings growth and unusually strong stock price performance" for banks as the economy recovers. Goldman Sachs raised its rating on Bank of America Corp. to "Buy" on expectations for solid earnings in the second quarter. And BMO Capital Markets upgraded its view of the banking industry, anticipating that profits will start to rebound in coming quarters.

Bank of America rose $1.06, or 9.9 percent, to $11.73.

State Street Corp. was another big gainer after it became the latest bank to turn to the capital markets to raise money. The commercial bank said it expects to raise about $1.45 billion through a stock offering as part of an effort to repay a $2 billion government loan that came as part of the financial rescue program last fall.

State Street rose $3.28, or 8.5 percent, to $41.79.

Analysts say the ability of banks to raise cash is a welcome sign of strength, even if the introduction of added shares makes those already in circulation worth somewhat less.

"The banks are stable," Cox said. "We're not going to see any of the large banks go down. And now that we have stabilization in the banking system, we can move forward."

In other trading, the Russell 2000 index of smaller companies rose 18.95, or 4 percent, to 494.79.

About nine stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 5.5 billion shares, up from 5.3 billion shares Friday.

Energy stocks were lifted by a sharp gain in oil prices. Crude rose $2.69 to $59.03 a barrel as investors made bets that demand would be strong throughout the summer driving season, which kicks off this weekend with the Memorial Day holiday.

The dollar fell against other major currencies. Gold prices also fell.

Stocks overseas were mixed following weak corporate earnings reports in Asia. Japan's Nikkei stock average fell 2.4 percent. Britain's FTSE 100 jumped 2.3 percent, Germany's DAX index rose 2.4 percent, and France's CAC-40 rose 2.4 percent.

750


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Yesterday was roller coaster stuff; check DOW chart!!

A record low in housing construction has investors doubting the economy again.

Stocks closed narrowly mixed in light trading Tuesday as the surprise drop in construction and a cautious outlook from retailer Home Depot Inc. led energy and utility stocks to pare gains.

Construction of homes and apartments fell 12.8 percent last month to the lowest pace on records going back a half-century, the Commerce Department said. Analysts had expected housing starts to rise.

*The NYSE DOW closed LOWER -29.23 points -0.34% on Tuesday May 19*
Sym Last........ ........Change.......... 
Dow 8,474.85 -29.23 -0.34% 
Nasdaq 1,734.54 +2.18 +0.13% 
S&P 500 908.13 -1.58 -0.17% 
30-yr Bond 4.2070% +0.0310 

NYSE Volume 6,797,218,000  (prior day 6,794,831,000)
Nasdaq Volume 2,135,664,000  (prior day 2,037,372,620)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,482.25 +35.80 +0.81% 
DAX 4,959.62 +107.66 +2.22% 
CAC 40 3,274.96 +29.57 +0.91% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,290.29 0.00 0.00%  Japan's Nikkei stock average jumped 2.8 percent
Hang Seng 17,544.03 0.00 0.00% 
Straits Times 2,260.36 0.00 0.00% 

http://finance.yahoo.com/news/Surprise-drop-in-housing-data-apf-15297286.html

*Surprise drop in housing data checks market's rise

Stocks narrowly mixed after drop in housing data, cautious report from Home Depot *

Tim Paradis and Madlen Read, AP Business Writers
On Tuesday May 19, 2009, 6:05 pm EDT

NEW YORK (AP) -- A record low in housing construction has investors doubting the economy again.

Stocks closed narrowly mixed in light trading Tuesday as the surprise drop in construction and a cautious outlook from retailer Home Depot Inc. led energy and utility stocks to pare gains.

Construction of homes and apartments fell 12.8 percent last month to the lowest pace on records going back a half-century, the Commerce Department said. Analysts had expected housing starts to rise.

The report did contain some positive signs, including a rebound in single-family construction that partly offset a drop in apartment construction. And a sharp pullback in construction is necessary to rid the housing market of excess inventory, many analysts pointed out.

Wall Street has been trying to get a read on the housing market for months as investors look for solid signs the economy is recovering. Stocks surged more than 3 percent on May 4 following unexpected increases in pending home sales and construction spending. But a big inventory of unsold homes and record foreclosures are swallowing much of the demand, making it hard for prices to stabilize.

"The housing number on the surface was horrible," said Alan Valdes, vice president at Hilliard Lyons in New York. But he said the whittling away of inventory will help prices eventually.

Although the construction figure was seen as a setback, it also did not set off heavy selling. Valdes noted that the light trading volume ahead of the long Memorial Day weekend meant the market was likely to drift barring any news that could change investors' mood.

The Dow Jones industrial average fell 29.23, or 0.3 percent, to 8,474.85.

Home Depot was the biggest loser in the Dow, falling $1.39, or 5.3 percent, to $24.63 after saying its markets are still under pressure. Profits at the nation's largest home improvement retailer climbed 44 percent, better than expected, as the company booked fewer charges.

Broader stock indicators were mixed. The Standard & Poor's 500 index fell 1.58, or 0.2 percent, to 908.13, while the Nasdaq composite index rose 2.18, or 0.1 percent, to 1,734.54.

About three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to 5.44 billion shares, down from 5.49 billion on Monday.

"It's hard enough to get going after you've been up 30 percent in the S&P 500 in 10 weeks," said Hugh Johnson, chief investment officer of Johnson Illington Advisors. "When you have news that's as deflating as this, it gets nearly impossible."

On Monday, encouraging news from Home Depot rival Lowe's Cos. and an improving outlook for banks had lifted the S&P 500 index back into a gain for the year. It's still up marginally for 2009 after Tuesday's dip.

In a positive sign for Wall Street, one measure of the market's uneasiness fell again after sliding 8.7 percent Monday. The Chicago Board Options Exchange Volatility Index, or the VIX, fell below 30 on Tuesday for the first time since September. It hit a record 89.5 in October at the height of the financial market meltdown. The historical average is 18-20, well below Tuesday's level of 28.8, but the decline signals that investors are more confident about the stock market's direction.

David Kelly, chief market strategist at JPMorgan Funds, said the drop in expectations for volatility and the market's relatively calm response to bad economic news in light trading is a departure from only months ago, when stocks likely would have tumbled sharply.

"The market was assuming the economy would never come around. Even though we are waiting for a turnaround, this certainly is indicative of an economy that is stabilizing," he said.

Kelly added that every day without another proverbial shoe dropping helps traders build confidence.

"Every shoeless day is a good day," he said.

Another sign that the rally has staying power is the strength in industries such as basic materials, industrials and technology, Johnson said. These are the types of companies that usually perform well in a market comeback.

"It's not just that the stock market has been going up -- it's that the right sectors have been leading the performance parade," Johnson said.

Rising prices for oil and materials lifted energy and commodity stocks. Rising prices are often seen as a sign that investors are expecting economic activity will increase and drive demand for raw materials. Peabody Energy Corp. rose 89 cents, or 2.9 percent, to $31.65, while the utility PPL Corp. rose $1.18, or 3.8 percent, to $31.94.

Light, sweet crude rose 62 cents to $59.65 a barrel on the New York Mercantile Exchange.

Credit card companies fell after the Senate voted to prevent them from arbitrarily raising consumers' interest rate and charging many of the high fees that have become customary. American Express Co. fell $1.34, or 5.1 percent, to $24.79, while Capital One Financial Corp. fell $1.16, or 4.5 percent, to $24.90.

In other trading, the Russell 2000 index of smaller companies fell 1.53, or 0.3 percent, to 493.26.

Bond prices were mixed. The yield on the 10-year Treasury note was unchanged at 3.24 percent.

The dollar fell against other major currencies, while gold prices rose modestly.

Overseas, Britain's FTSE 100 rose 0.8 percent, Germany's DAX index rose 2.2 percent, and France's CAC-40 rose 0.9 percent. Japan's Nikkei stock average jumped 2.8 percent

821


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The last hour again!!

Bank stocks led the market lower after the Federal Reserve cut its economic forecast and said unemployment could get worse.

The Fed's prediction Wednesday that the jobless rate could approach 9.6 percent -- worse than its previous forecast of 8.8 percent -- was especially ominous for banks since that data is a component of the government's recent "stress tests" designed to determine how healthy banks are.

The midafternoon release of minutes from the Fed's meeting deflated an earlier rally in financial shares, which had been rising after Bank of America Corp. said it raised $13.5 billion in a share offering. That put the bank more than halfway toward raising the capital it needed to under the "stress tests," whose results were announced two weeks ago.


*The NYSE DOW closed LOWER -52.81 points -0.62%  on Wednesday May 20*
Sym Last........ ........Change.......... 
Dow 8,422.04 -52.81 -0.62% 
Nasdaq 1,727.84 -6.70 -0.39% 
S&P 500 903.47 -4.66 -0.51% 
30-yr Bond 4.1600% -0.0470  

NYSE Volume 8,437,542,000  (prior day 6,797,218,000)
Nasdaq Volume 2,327,366,250  (prior day 2,135,664,000)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,468.41 -13.84 -0.31% 
DAX 5,038.94 +79.32 +1.60% 
CAC 40 3,303.37 +28.41 +0.87% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225  	9,344.64	+54.35	0.59%
Hang Seng  	17,475.84	-68.19	-0.39%
Straits Times	2,269.24	+8.88	0.39%

http://finance.yahoo.com/news/Stock...11123.html?sec=topStories&pos=2&asset=&ccode=

*Stocks erase gains after Fed reduces 2009 outlook

Banks lead stock market lower after the Fed cuts its economic forecast for rest of the year *

Sara Lepro and Tim Paradis, AP Business Writer
On Wednesday May 20, 2009, 6:32 pm EDT

NEW YORK (AP) -- Bank stocks led the market lower after the Federal Reserve cut its economic forecast and said unemployment could get worse.

The Fed's prediction Wednesday that the jobless rate could approach 9.6 percent -- worse than its previous forecast of 8.8 percent -- was especially ominous for banks since that data is a component of the government's recent "stress tests" designed to determine how healthy banks are.

The midafternoon release of minutes from the Fed's meeting deflated an earlier rally in financial shares, which had been rising after Bank of America Corp. said it raised $13.5 billion in a share offering. That put the bank more than halfway toward raising the capital it needed to under the "stress tests," whose results were announced two weeks ago.

The sharp swings in financial shares has been a typical market pattern in recent weeks as investors rush into and out of bank stocks based on the latest thinking about how well the industry will endure the economic slump and a credit crisis that brought down three Wall Street investment banks.

In other parts of the market, energy stocks surged as oil topped $62 a barrel for the first time since November, and Treasury prices rose smartly after the Fed said it might increase its purchases of government debt.

Carl Beck, a partner at Harris Financial Group, noted that the Fed's new estimate for unemployment is much closer to the "worst-case scenario" figure the government used during its tests on the 19 largest U.S. banks.

"Does that mean there is a worse case scenario than that?" Beck said. "I don't think after what we've seen over the last six to eight months that you can discount anything at this point."

The Dow Jones industrials fell 52.81, or 0.6 percent, to 8,422.04. The blue chips had been up as much as 117 points in early trading. The Standard & Poor's 500 index slipped 4.66, or 0.5 percent, to 903.47, and the Nasdaq composite index fell 6.70, or 0.4 percent, to 1,727.84.

Bank of America was the only major bank to get through the downdraft in financial shares, ending up 24 cents, or 2.1 percent, at $11.49.

Regional bank Regions Financial Corp. fell 35 cents, or 6.7 percent, to $4.89 after announcing a $1.25 billion capital raise in order to meet the government's demands to shore up its balance sheet.

Analysts are welcoming the capital raises from banks as a sign of stability and a vote of confidence in the financial system, but they fear banks are still a long way from scrubbing all the stains off their balance sheets.

"There is some uncertainty about the financials as a sector and people are a little bit leery about getting too involved with them," said Doreen Mogavero, president of Mogavero, Lee & Co. in New York.

Energy stocks posted some of the day's biggest gains. Marathon Oil Corp. rose 68 cents, or 2.3 percent, to $30.38, while Schlumberger Ltd. rose $1.03 to $55.04.

Stocks ended mixed Tuesday after a record low in housing construction undermined optimism that had been building in recent weeks about the beleaguered housing market, which had been beginning to show some early signs of easing a three-year slide.

Despite back-to-back dips on Tuesday and Wednesday, the S&P 500 index is still up 33.5 percent since March 9, and about even with the beginning of 2009. Many market-watchers think stocks could be due for another fall after their steep ascent over the past two months.

"Just as markets sometimes go too far on the negative in the short-term, they can go too far in the positive," said Subodh Kumar, an independent investment strategist in Toronto. "I think right now the markets will have trouble keeping momentum."

In other trading, the Russell 2000 index of smaller companies fell 3.91, or 0.8 percent, to 489.35.

Advancing issues narrowly outnumbered decliners on the New York Stock Exchange, where volume came to 1.65 billion shares.

Bond prices jumped after the Fed minutes indicated the central bank could buy more government debt. That pushed the yield on the 10-year Treasury note, a widely used benchmark for home mortgages and other kinds of loans, down to 3.19 percent from 3.25 percent late Tuesday.

The dollar plunged against the euro and the British pound, while gold prices rose.

Overseas, Japan's Nikkei stock average rose 0.6 percent. Britain's FTSE 100 fell 0.3 percent, Germany's DAX index rose 1.6 percent, and France's CAC-40 rose 0.8 percent.

865


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Another bad signal from the job market and concern over a possible downgrade of British government debt sent stocks sharply lower Thursday.

Major stock indicators slid more than 1.5 percent, cutting nearly 130 points off the Dow Jones industrial average, after continuing claims for unemployment benefits set their 16th straight weekly record.

The report added to recent anxiety that the market may have moved too high too quickly on early signs of recovery in the economy. Despite a pullback this week, the Standard & Poor's 500 index is still up more than 30 percent from its 12-year lows in early March.

*The NYSE DOW closed LOWER -129.91 points -1.54% on Thursday May 21*
Sym Last........ ........Change.......... 
Dow 8,292.13 -129.91 -1.54% 
Nasdaq 1,695.25 -32.59 -1.89% 
S&P 500 888.33 -15.14 -1.68% 
30-yr Bond 4.31% +0.15 

NYSE Volume 7,304,121,000  (prior day 8,437,542,000)
Nasdaq Volume 2,265,691,250  (prior day 2,327,366,250)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,345.47 -122.94 -2.75% 
DAX 4,900.67 -138.27 -2.74% 
CAC 40 3,217.41 -85.96 -2.60% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,264.15 -80.49 -0.86% 
Hang Seng 17,199.49 -276.35 -1.58% 
Straits Times 2,210.97 -58.27 -2.57% 

http://finance.yahoo.com/news/Stock...88.html?sec=topStories&pos=main&asset=&ccode=

*Stocks are pounded by worries over jobs, UK debt

Wall Street retreats as investors fear rising unemployment could prolong economic recovery *

Tim Paradis, AP Business Writer
On Thursday May 21, 2009, 4:53 pm EDT

NEW YORK (AP) -- Another bad signal from the job market and concern over a possible downgrade of British government debt sent stocks sharply lower Thursday.

Major stock indicators slid more than 1.5 percent, cutting nearly 130 points off the Dow Jones industrial average, after continuing claims for unemployment benefits set their 16th straight weekly record.

The report added to recent anxiety that the market may have moved too high too quickly on early signs of recovery in the economy. Despite a pullback this week, the Standard & Poor's 500 index is still up more than 30 percent from its 12-year lows in early March.

Investors were also worrying about how well governments can keep up with public spending to stimulate their economies after Standard & Poor's said Britain may have its rating cut because of rising debt levels. That would raise the cost of borrowing for the British government, which is taking a big role in bailing out that country's stricken banking system.

Even with governments pumping huge amounts of money into economies around the world there are still questions about how soon a rebound might take hold. In the U.S., home prices are still sliding and unemployment remains at a 25-year high.

"It raises questions about our own situation in terms of our deficits and our national debt," said Alan Skrainka, chief market strategist at Edward Jones, of the S&P report. "There are limits to how high you can take these numbers longer term."

The report weighed on bond prices. The yield on the 10-year Treasury note jumped to 3.36 percent from 3.19 percent late Wednesday.

The market did pull off its earlier lows in late afternoon trading, boosted in part by a huge spike in General Motors Corp. shares, which jumped more than 15 percent in the last hour of trading.

GM rose after it agreed with the United Auto Workers to a tentative deal on concessions. The move is a key step toward GM's efforts to restructure outside of bankruptcy court.

According to preliminary calculations, the Dow fell 129.91, or 1.5 percent, to 8,292.13, after earlier falling as much as 201 points. The Standard & Poor's 500 index fell 15.14, or 1.7 percent, to 888.33, and the Nasdaq composite index fell 32.59, or 1.9 percent, to 1,695.25.

In a sign of the market's uneasiness, the Chicago Board Options Exchange Volatility Index, or the VIX, jumped more than 8 percent Thursday, rising back above 30. Known as Wall Street's fear gauge, the VIX hit a milestone earlier this week when it fell below 30 for the first time since September. It hit a record 89.5 in October at the height of the financial market meltdown. The historical average is between 18 and 20.

Stocks wavered this week as the market's ethusiasm eroded amid disappointing data and a downbeat outlook from the Federal Reserve. On Wednesday, stocks gave up early gains and ended lower after the central bank said the economy was likely to shrink by more than expected this year.

Analysts say the market needs to see a continual stream of good news to draw in more buyers.

"The confidence building is a process and it's begun," said Gary Townsend, president and chief executive of Chevy Chase, Md.-based private investment group Hill-Townsend Capital Inc. "Sometimes the market just needs a bit more time."

Analysts also say that a pullback is healthy in light of the market's two-month surge.

"A little bit of relief just makes sense," said Ron Weiner, president and chief executive of RDM Financial in Westport, Conn. "People are starting to understand that all these taxes and stimulus are probably not going to lead to a great, roaring recovery and some of these stocks may have gotten ahead of themselves."

Gains in large bank stocks helped curb the market's overall losses after Goldman Sachs raised its rating on large banks to "neutral."

JPMorgan Chase & Co. added 35 cents to $34.90, while Wells Fargo & Co. rose 58 cents, or 2.4 percent, to $25.04.

Regional bank stocks, however, suffered. Regions Financial Corp. tumbled 79 cents, or 16.2 percent, to $4.10 after it priced a public stock offering at a big discount. Fifth Third Bancorp fell 76 cents, or 9.9 percent, to $6.95, while Huntington Bancshares Inc. lost 52 cents, or 10.8 percent, to $4.30. Both banks also announced plans to boost their capital through public stock offerings.

A number of banks have announced stock offerings in recent weeks, which is a positive sign for the market that companies can once again turn to the public to raise cash. But stock offerings dilute current shareholders' stakes, and the huge influx of bank shares into the market has put pressure on the stocks.

In other trading, the Russell 2000 index of smaller companies fell 12.83, or 2.6 percent, to 476.52.

About three stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.44 billion shares.

The dollar was mostly lower against other major currencies, while gold prices rose.

Light, sweet crude fell 99 cents to settle at $61.05 a barrel on the New York Mercantile Exchange after rising sharply earlier in the week. Investors worried that continued sluggishness in the economy would reduce demand.

Overseas, Japan's Nikkei stock average rose 0.2 percent. In Europe, stocks fell after the S&P warning about Britain's debt. The FTSE 100 in London tumbled 2.8 percent. Germany's DAX index fell 2.7 percent, and France's CAC-40 lost 2.6 percent.

909


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 8.68, or 0.1 percent, at 8,277.32. The Standard & Poor's 500 index rose 4.1, or 0.47 percent, to 887.00. The Nasdaq composite index rose 11.87, or 0.7 percent, to 1,692.01.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 9,068.60, down 16.48, or 0.2 percent, for the week. A year ago, the index was at 14,127.12.

Wall Street's confidence took some heavy blows this week.

Despite a strong rally on Monday, stocks drifted lower for much of the week on a darkening economic outlook. In a now-familiar pattern, early gains were erased in the last hour of trading Friday as the market lost its will to move higher. Major indexes ended down about 0.2 percent.

Trading has been choppy over the past two weeks as investors began to doubt that a massive two-month rally this spring could be sustained. More bad indicators came this week when the Fed said unemployment could go as high as 9.6 percent, worse than its previous forecast, and Standard & Poor's said the British government might lose is AAA credit rating.


*The NYSE DOW closed LOWER -14.81 points -0.18%  on Friday May 22*
Sym Last........ ........Change.......... 
Dow 8,277.32 -14.81 -0.18% 
Nasdaq 1,692.01 -3.24 -0.19% 
S&P 500 887.00 -1.33 -0.15% 
30-yr Bond 4.3920% +0.0790 

NYSE Volume 5,265,109,500  (prior day 7,304,121,000)
Nasdaq Volume 1,621,297,125  (prior day 2,265,691,250)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,365.29 +19.82 +0.46% 
DAX 4,918.75 +18.08 +0.37% 
CAC 40 3,227.97 +10.56 +0.33% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,225.81 -38.34 -0.41% 
Hang Seng 17,062.52 -136.97 -0.80% 
Straits Times 2,245.27 +34.30 +1.55% 

http://finance.yahoo.com/news/Stock...14.html?sec=topStories&pos=main&asset=&ccode=

*Stocks lose grip on early gains, Dow off 15

Stocks close out choppy week slightly lower; Investor mood sours on worries about US debt *
Tim Paradis and Sara Lepro, AP Business Writer
On Friday May 22, 2009, 6:54 pm EDT

NEW YORK (AP) -- Wall Street's confidence took some heavy blows this week.

Despite a strong rally on Monday, stocks drifted lower for much of the week on a darkening economic outlook. In a now-familiar pattern, early gains were erased in the last hour of trading Friday as the market lost its will to move higher. Major indexes ended down about 0.2 percent.

Trading has been choppy over the past two weeks as investors began to doubt that a massive two-month rally this spring could be sustained. More bad indicators came this week when the Fed said unemployment could go as high as 9.6 percent, worse than its previous forecast, and Standard & Poor's said the British government might lose is AAA credit rating.

Stocks traded most of the day higher on Friday following better-than-expected results from several retailers including Sears Holdings Corp., Gap Inc. and Aeropostale Inc. But losses in financial and industrial shares wound up dragging the market down, marking the third time this week that stocks erased early gains to end lower.

With few economic reports coming out this week, the market was left with little fuel to continue a two and a half-month surge that has lifted stocks up more than 30 percent from 12-year lows in early March.

Next week's economic calendar is much more heavily loaded, with key reports coming on home sales, orders for manufactured goods and consumer confidence. Whether those data please or disappoint the market could be the key to determining what becomes of the spring rally.

"Everything is overpriced," said Harry Rady, chief executive and portfolio manager of Rady Asset Management. "A very long, protracted recession is still very much alive."

The Dow Jones industrial average fell 14.81, or 0.2 percent, to 8,277.32. The S&P 500 index slipped 1.33, or 0.2 percent, to 887.00, and the Nasdaq composite index lost 3.24, or 0.2 percent, to 1,692.01.

Despite the market's seesaw movements this week, all the major indicators finished the five-day period just barely in the black. The Dow rose 0.10 percent; the S&P 500 index rose 0.47 percent; and the Nasdaq rose 0.71 percent.

Investors were jolted by a warning Thursday from Standard & Poor's that it could downgrade the British government's top-shelf debt rating, which would increase its borrowing costs just as it's spending heavily to bail out troubled British banks. That got some thinking that the United States' own AAA rating might also be in jeopardy.

Worries about the U.S. government's credit ratings eased somewhat on Friday, but Treasurys and the dollar both lost ground, with the dollar falling to its weakest level against the euro since January.

The yield on the 10-year Treasury note hit a new high for the year, climbing to 3.46 percent from 3.37 percent late Thursday. The 10-year note is a widely used benchmark for home mortgages and other kinds of loans. Gold prices rose about 1 percent as investors looked for safety.

"The crisis of deficit financing and deficit spending is moving its way up the food chain," said John Brady, senior vice president of global interest rate products at MF Global in Chicago. Brady said investors are worried about whether the economy will be able to recover if interest rates are higher and the dollar is weaker.

Some of the signals this week were encouraging, however. The Federal Reserve said banks reduced borrowing from its emergency loan program over the past week, while investment banks didn't borrow at all -- the first time that's happened since early September.

Financial stocks were mixed after federal regulators made their biggest bank seizure in the year to date as investors tried to figure out how many more failures might be coming. Credit card issuers mainly fell as President Barack Obama signed into law new rules for the credit card industry.

Federal officials late Thursday seized Florida thrift BankUnited FSB in a move that is expected to cost the Federal Deposit Insurance Corp.'s insurance fund $4.9 billion. It's the costliest hit since last year's seizure of California lender IndyMac Bank that is estimated to have cost $10.7 billion.

Bank of America Corp. fell 34 cents, or 3 percent, to $11.07, while Capital One Financial Corp. fell $1.01, or 4.4 percent, to $21.92. American Express Corp. fell 75 cents, or 3.1 percent, to $23.40.

Among retailers, Sears turned in an unexpected profit for its fiscal first quarter, rebounding from a loss a year earlier, as the retailer worked to manage inventory. The stock jumped $5.21, or 10.4 percent, to $55.40.

In other trading, the Russell 2000 index of smaller companies fell 3.60, or 0.8 percent, to 477.62.

Markets will be closed on Monday for the Memorial Day holiday.

About five stocks rose for every four that fell on the New York Stock Exchange, where consolidated volume came to 4.34 billion shares, down sharply from 5.77 billion shares a day earlier.

Oil rose 62 cents to $61.67 per barrel.

Overseas, Britain's FTSE 100 rose 0.5 percent, Germany's DAX index added 0.4 percent, and France's CAC-40 rose 0.3 percent. Japan's Nikkei stock average fell 0.4 percent.

The Dow Jones industrial average closed the week up 8.68, or 0.1 percent, at 8,277.32. The Standard & Poor's 500 index rose 4.1, or 0.47 percent, to 887.00. The Nasdaq composite index rose 11.87, or 0.7 percent, to 1,692.01.

The Russell 2000 index, which tracks the performance of small company stocks, rose 1.78, or 0.4 percent, for the week to 477.62.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 9,068.60, down 16.48, or 0.2 percent, for the week. A year ago, the index was at 14,127.12

977


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*NYSE Markets were closed on Monday May 25 for the Memorial Day holiday.*

European stocks searched for direction Monday, closing little changed amid ongoing concerns about the sustainability of recent market gains. Asian shares rose, shrugging off reports of a nuclear test by North Korea.



*The NYSE Markets were closed on Monday for the Memorial Day holiday. *
Sym Last........ ........Change.......... 
Dow 8,277.32  
Nasdaq 1,692.01 
S&P 500 887.00  
30-yr Bond 4.3920% 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,365.29 +19.82 +0.46% 
DAX 4,918.45 -0.30 -0.01% 
CAC 40 3,236.16 +8.19 +0.25% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,347.00 +121.19 +1.31% 
Hang Seng 17,121.82 +59.30 +0.35% 
Straits Times 2,267.46 +22.19 +0.99% 

http://finance.yahoo.com/news/European-markets-flat-Asia-apf-15339927.html

*European markets flat, Asia gains

Europe flat, Sanofi up on vaccine order; Asia gains, shrugs off North Korean nuclear test *

David Mchugh, AP Business Writer
On Monday May 25, 2009, 12:32 pm EDT

LONDON (AP) -- European stocks searched for direction Monday, closing little changed amid ongoing concerns about the sustainability of recent market gains. Asian shares rose, shrugging off reports of a nuclear test by North Korea.

Germany's DAX index of blue chips closed down 0.3 percent at 4918.45, while the French CAC-40 index rose 0.2 percent to 3236.16. The London and New York stock exchanges were closed for national holidays, a bank holiday in Britain and Memorial Day in the United States.

Shares in Europe recovered in the afternoon after falling after the open on news that that closely watched Ifo institute's survey of German business confidence rose less than expected in May. Sluggish demand weighed on construction and manufacturing in Europe's largest economy as the index increased to 84.2 points in May from 83.7 points in April.

In France, drug maker Sanofi-Aventis was among the CAC-40 gainers, up 1.6 percent on news of a $190 million order for swine flu vaccine from the U.S. government.

That was the second consecutive increase since March, when the indicator hit a 26-year low of 82.2 points, but short of the 85.9 points Ifo had expected and the 85 points predicted by UniCredit.

Global stocks have been seeking direction after solid gains in recent weeks. Backward-looking data such as growth and manufacturing output have been dismal, but some indicators of future activity have been more positive. Investors were looking ahead to key U.S. economic reports this week, including home sales, big-ticket manufactured goods and consumer confidence.

"I think people are catching their breath and seeing how things go," said Gerhard Schwarz, head of equities strategy at UniCredit. "We have of course seen an improvement in several leading indicators ... the big question is, how sustainable is this improvement?"

Asian markets retreated midday after North Korea announced that it had successfully carried out an underground nuclear test. The country's official Korean Central News Agency called it "part of measures to bolster its nuclear deterrent for self-defense."

But investors soon tempered their reaction, turning their attention to domestic issues and the upcoming week's economic reports for further clues about the outlook for the U.S. and global economies.

South Korea's benchmark Kospi index erased nearly all its losses. It plunged as much as 6.3 percent before bouncing back to end just 0.2 percent lower at 1,400.90. The won also recovered from a drop against the dollar.

Tokyo's benchmark Nikkei 225 stock average rose 121.19 points, or 1.3 percent, to 9,347.00 on a slightly weaker yen and gains by steel and drug makers. Hong Kong's Hang Seng index rose 0.4 percent to 17,121.82,

The region's markets have grown accustomed to such maneuvering by North Korea, said Linus Yip, a strategist at First Shanghai Securities Ltd. in Hong Kong.

"For the South Korean market, it's just an excuse for the market to make a correction because markets have shot up too much recently," Yip said. "But I don't see any great impact in other Asian markets."

Japanese electronic retailers climbed after The Nikkei financial daily said home appliance sales surged over the weekend. As part of its economic stimulus efforts, the government kicked off its "eco points" program to boost spending on environmentally friendly electronics. Bic Camera Inc. shot up 7.5 percent and rival Best Denki Co. surged almost 17 percent.

Markets in mainland China and Singapore -- both down earlier -- also rose into positive territory.

Thailand's benchmark index fell after figures showed that Southeast Asia's second-biggest economy contracted 7.1 percent in the first quarter from a year earlier.

Wall Street slid Friday as early gains built on better earnings reports from retailers faded amid anxiety about the outlook for the American economy, the world's largest. The Dow fell 14.81, or 0.2 percent, to 8,277.32. The S&P 500 index slipped 1.33, or 0.2 percent, to 887.00, and the Nasdaq composite index lost 0.2 percent to 1,692.01.

Oil prices slipped, with benchmark crude for July delivery down 43 cents to $61.24 a barrel in electronic trading on the New York Mercantile Exchange.

The dollar traded flat at 94.79 yen, barely up from 94.76 late Friday. The euro was unchanged at $1.3994 after briefly rising above $1.40.

AP Business Writer Kelly Olsen in Seoul and Associated Press Writer Tomoka A. Hosaka in Tokyo contributed to this report.

136


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Consumers are getting more confident about the economy, and Wall Street is tagging along.

Stocks surged Tuesday, posting their first big win in a week after a research group said consumer sentiment rose in May to the highest level since September. Major stock indicators jumped more than 2 percent, including the Dow Jones industrial average, which added 196 points.

The day's gains nudged the Standard & Poor's 500 index back into the plus column for the year and leaves the Nasdaq composite index up 11 percent in 2009. The Dow is still down 3.5 percent.

*The NYSE DOW closed HIGHER +196.17 points +2.37% on Tuesday May 26*
Sym Last........ ........Change.......... 
Dow 8,473.49 +196.17 +2.37% 
Nasdaq 1,750.43 +58.42 +3.45% 
S&P 500 910.33 +23.33 +2.63% 
30-yr Bond 4.4460% +0.0540 

NYSE Volume 6,845,575,500 (prior day 5,265,109,500)
Nasdaq Volume 2,107,457,750 (prior day 1,621,297,125)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,411.72 +46.43 +1.06% 
DAX 4,985.60 +67.15 +1.37% 
CAC 40 3,270.09 +33.93 +1.05% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,310.81 -36.19 -0.39% 
Hang Seng 16,991.56 -130.26 -0.76% 
Straits Times 2,238.79 -28.67 -1.26% 

http://finance.yahoo.com/news/Stocks-jump-after-consumer-apf-15351505.html

*Stocks jump after consumer confidence level surges

Street jumps as consumer confidence surges, prompting hopes of higher spending; Dow gains 196 *

Tim Paradis and Madlen Read, AP Business Writers
On Tuesday May 26, 2009, 5:40 pm EDT

NEW YORK (AP) -- Consumers are getting more confident about the economy, and Wall Street is tagging along.

Stocks surged Tuesday, posting their first big win in a week after a research group said consumer sentiment rose in May to the highest level since September. Major stock indicators jumped more than 2 percent, including the Dow Jones industrial average, which added 196 points.

The day's gains nudged the Standard & Poor's 500 index back into the plus column for the year and leaves the Nasdaq composite index up 11 percent in 2009. The Dow is still down 3.5 percent.

Investors started buying enthusiastically after the Conference Board's Consumer Confidence Index vaulted to 54.9 from 40.8, soaring past the 42.3 that economists surveyed by Thomson Reuters forecast.

Wall Street has been watching the index for signs of whether consumers might start shopping more or buy big-ticket items like cars and homes. Spending by consumers makes up more than two-thirds of U.S. economic activity, making their confidence critical for the nation to pull out of recession.

"The consumer confidence figure is one that no one really pinned a lot of hopes on as going higher," said Jim King, chief investment officer at National Penn Investors Trust Co. With unemployment still high and expected to go higher, many market watchers thought the mood on Main Street would remain gloomy.

Traders saw green on their screens on the first day back from a long weekend but the compressed week could still trip up the market. Data are due on home sales as well as the economy's overall output in the first three months of the year, and investors will be eyeing General Motors Corp. as its June 1 restructuring deadline approaches.

The Dow rose 196.17, or 2.4 percent, to 8,473.49. The S&P 500 index rose 23.33, or 2.6 percent, to 910.33, and the Nasdaq rose 58.42, or 3.5 percent, to 1,750.43.

Analysts said the day's gains reveal how jumpy the market still is and warned that it could show a similar quick reaction to bad news.

"What we see is lot of nervous money on the sidelines so it's sort of this game of chicken when people don't want to be left out of a more sustained rally," said Chris Cordaro, chief investment officer at RegentAtlantic Capital LLC.

Investors have been questioning whether the stock market's massive two-month run can be sustained given the continuing weakness in the global economy in areas like housing and unemployment. Since it closed at 8,574.65 on May 8, the Dow has traded within a 300-point range, lifted by positive news like Tuesday's consumer reading but also hurt by nagging worries about the economy.

The Dow is up 29.4 percent from its 12-year low hit on March 9, but even with the recent gains it's still 40.2 percent below its peak in October 2007.

The Conference Board's report marked the second consecutive month of large gains in its measure of consumer confidence. Its previous report on April 28 helped stanch a slide in the market that day, and investors appeared heartened that the improving trend was continuing into May.

Stocks dependent on strong consumer spending jumped. J.C. Penney Co. rose $1.63, or 6.5 percent, to $26.76, while Best Buy Co. advanced $1.87, or 5.3 percent, to $37.05.

Restaurant chains also rose on the pop in consumer confidence. Darden Restaurants Inc., which operates the Olive Garden and Red Lobster chains, rose $2.60, or 7.9 percent, to $35.64. CKE Restaurants, the parent of the Hardee's and Carl's Jr. fast food chains, jumped $1.07, or 13.8 percent, to $8.80.

Home builder KB Home rose 86 cents, or 5.9 percent, to $15.50, and DR Horton Inc. rose 46 cents, or 5.1 percent, to $9.47. Investors shrugged off a downbeat reading on the housing market. S&P/Case Shiller reported a 18.7 percent drop in its March home price index. The decrease was a little bigger than in February, and slightly larger than economists predicted.

Tech stocks showed some of the biggest gains in part after an analyst raised her rating on Apple Inc. saying the growth of the company's iPhone device has been underestimated. Apple rose $8.28, or 6.8 percent, to $130.78.

GM reversed an early slide after it outlined a deal with labor unions, rising 1 cent to $1.44. However the automaker has yet to reach a deal with its major bondholders and is facing a midnight deadline Tuesday for doing so.

The Russell 2000 index of smaller companies jumped 22.69, or 4.8 percent, to 500.31 as investors placed bets that these businesses would be among the first to benefit from an improving economy as often happens following recessions.

About five stocks rose for every one that fell on the New York Mercantile Exchange, where volume came to 1.34 billion shares compared with 1.1 billion shares traded Friday ahead of the holiday weekend.

Bond prices fell, pushing the yield on the 10-year Treasury note up to a six-month high of 3.55 percent from 3.46 percent late Friday.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude rose 78 cents to settle at $62.45 per barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 rose 1.1 percent, Germany's DAX index rose 1.4 percent, and France's CAC-40 rose 1.1 percent. Japan's Nikkei stock average fell 0.4 percent. 223


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The stock market put its rally back on hold as investors worried about rising borrowing costs.

The Dow Jones industrial average fell almost 175 points Wednesday, erasing most of the previous day's rally as a jump in government bond yields fanned concerns that higher interest rates will sap strength from the economy.

A steep drop in the price of the benchmark 10-year Treasury note pushed its yield up to 3.75 percent from 3.55 percent late Tuesday and to the highest level since November. Bond investors were selling on concerns that the huge amount of debt the government is selling to fund its bailout programs will ultimately keep Treasury prices down.

*The NYSE DOW closed LOWER -173.47 points -2.05% on Wednesday May 27*
Sym Last........ ........Change.......... 
Dow 8,300.02 -173.47 -2.05% 
Nasdaq 1,731.08 -19.35 -1.11% 
S&P 500 893.06 -17.27 -1.90% 
30-yr Bond 4.6060% +0.1600 

NYSE Volume 6,852,967,000  (prior day 6,845,575,500)
Nasdaq Volume 2,195,047,750  (prior day 2,107,457,750)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,409.74 -1.98 -0.04% 
DAX 4,984.22 -1.38 -0.03% 
CAC 40 3,275.13 +5.04 +0.15% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,438.77 +127.96 +1.37% 
Hang Seng 17,885.27 +893.71 +5.26% 
Straits Times 2,309.89 +71.10 

http://finance.yahoo.com/news/Slumping-Treasury-bond-prices-apf-15364108.html

*Slumping Treasury bond prices send stocks lower

Stocks tumble as 10-year note yield jumps on worries about borrowing costs; Dow falls 173 *
Tim Paradis, AP Business Writer
On Wednesday May 27, 2009, 6:13 pm EDT

The stock market put its rally back on hold as investors worried about rising borrowing costs.

The Dow Jones industrial average fell almost 175 points Wednesday, erasing most of the previous day's rally as a jump in government bond yields fanned concerns that higher interest rates will sap strength from the economy.

A steep drop in the price of the benchmark 10-year Treasury note pushed its yield up to 3.75 percent from 3.55 percent late Tuesday and to the highest level since November. Bond investors were selling on concerns that the huge amount of debt the government is selling to fund its bailout programs will ultimately keep Treasury prices down.

Along with increasing borrowing costs for the government, rising yields on Treasury debt could hamper an economic recovery since they are used as benchmarks for home mortgages and other kinds of loans. Higher mortgage rates could delay a recovery in the battered housing market.

"The equity market is getting worried about the 'green shoots.' I think the deer have nipped off a few and I think a few turned out to be weeds," said Hank Herrmann, chief executive of Waddell & Reed. Herrmann was referring to early positive signs in the economy that Federal Reserve Chairman Ben Bernanke has called "green shoots."

While Wall Street has been rallying for most of the past three months on those early signs of recovery, it has also been vulnerable to unexpected turns such as the jump in Treasury yields.

"Stocks are following bonds," said John Brady, senior vice president of global interest rate products at MF Global. "Will the economy grow and expand vigorously in the face of sustained higher interest rates?"

The Dow lost ground for the fifth time in six days, falling 173.47, or 2.1 percent, to 8,300.02 after rising 196 points on Tuesday. The Standard & Poor's 500 index fell 17.27, or 1.9 percent, to 893.06, and the technology-laden Nasdaq composite index fell 19.35, or 1.1 percent, to 1,731.08.

On Tuesday, stocks soared after an upbeat reading on consumer confidence lifted hopes for an economic rebound later this year.

The Dow is still 26.8 percent above the lows it reached in early March, but 41.4 percent below the record high it hit in October 2007.

The drop in bond prices Wednesday followed a well-received auction of $35 billion in five-year notes and a day ahead of an auction of $26 billion in 7-year notes. All told, the government plans to turn out $101 billion in debt this week.

Some traders fear demand for Treasurys could weaken as the government issues massive amounts of debt to fund its financial and economic rescue programs. The Federal Reserve has said it would buy up to $300 billion in Treasury debt this year as part of its efforts to keep borrowing costs low. But investors are now concerned that the central bank isn't buying as much as some had hoped.

Wednesday's stock market retreat also came as General Motors Corp. said not enough bondholders agreed to swap their debt for company stock, meaning the automaker is almost certainly headed for bankruptcy protection. GM has until Monday to either finish restructuring outside of court or file for Chapter 11. Value in its stock would be wiped out.

GM slid 29 cents, or 20.1 percent, to $1.15.

The prospect of a GM bankruptcy also made it more likely that the company would be plucked from among the 30 stocks that make up the Dow industrials. GM's tumbling stock price has hurt the index as shares fell from as high as $18.18 last June.

Many investors have been expecting GM to enter Chapter 11 for some time, but the reality of it happening could still deal Wall Street a psychological blow.

Some analysts say the market should be able to weather a GM filing. Mark Coffelt, portfolio manager at Empiric Funds, thinks Wall Street's recovery since hitting 12-year lows in early March leaves stocks better suited to shrug off GM's troubles.

"The market has come a long way in a short period. I would expect it to settle out a little bit," he said, predicting more back-and-forth days rather than more big gains in a short period.

Investors on Wednesday also worried about housing and financial stocks.

The National Association of Realtors said sales of previously occupied homes rose from March to April as buyers hunted for bargains. But the 2.9 percent increase in sales came as the number of unsold homes on the market at the end of April rose 9 percent, meaning a 10-month supply at the current sales pace.

Financial stocks fell after the Federal Deposit Insurance Corp. said the number of troubled banks jumped to the highest level in 15 years during the first quarter.

Agricultural products maker Monsanto Co. fell $5.37, or 6.3 percent, to $79.88 after saying it expects to meet the low end of its fiscal 2009 earnings forecast.

Flash-memory maker SanDisk Corp. renewed a licensing agreement with South Korea's Samsung Electronics Co. SanDisk jumped $1.94, or 14.3 percent, to $15.52.

In other trading, the Russell 2000 index of smaller companies fell 10.45, or 2.1 percent, to 489.86.

About two stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 5.5 billion shares, essentially flat with Tuesday.

The dollar was mixed against other major currencies. Gold prices edged higher.

Light, sweet crude rose $1 to settle at $63.45 per barrel on the New York Mercantile Exchange, its highest level since early November.

Overseas, Britain's FTSE 100 rose 0.1 percent, Germany's DAX index rose 0.3 percent, and France's CAC-40 added 0.8 percent. Japan's Nikkei stock average rebounded 1.4 percent. 
264


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## bigdog

http://www.wabusinessnews.com.au/en-story.php?/1/72742/GM-bankruptcy-would-shake-up-Dow-index/dba

*GM bankruptcy would shake up Dow index*
28-May-09 by AAP

A bankruptcy filing by General Motors Corp would not only send one of America's most storied automakers into further upheaval, it would also force a shake-up in the Dow Jones industrial average.

Once a company files for bankruptcy protection, it is disqualified from being one of the 30 Dow components, said John Prestbo, editor and executive director of Dow Jones Indexes.

As for a replacement, that decision rests with the managing editor of The Wall Street Journal, Robert Thomson. Prestbo said he and other senior editors at the Journal consult with Thomson on any potential changes to the Dow, but Thomson has the final say.

While editors are always reviewing the components that comprise the Dow, Prestbo said "I think it would be fair to say we're aware of GM's situation and taking steps accordingly."

GM, which was added to the Dow Jones industrials in 1925, has been hammered as the economy worsened and new car sales plummeted.

Shares of GM have lost 55 per cent of their value since the beginning of the year and 97 per cent since they reached a multiyear high in October 2007.

The Dow, meanwhile, is down 5.4 per cent this year, and 41.4 since reaching its record high of 14,164.53, also in October 2007.

GM's replacement wouldn't have to be another automaker or even another manufacturing or industrial company.

There are no hard rules as to which companies make up the index. The main goal is to try and duplicate in the Dow the weights of all market sectors excluding utilities and transportation companies, Prestbo said.

The Dow has separate indexes to track utilities and transportation firms, which is why they are not included in the industrial average.

In a research note last month, Nicholas Colas, chief market strategist for BNY ConvergEx Group, laid out seven possible replacements for GM: bankers Goldman Sachs Group Inc. and Wells Fargo & Co; high-tech firms Cisco Systems Inc, Apple Inc, Google Inc and Oracle Corp; and agricultural products maker Monsanto Co.

Kenneth Froewiss, a professor of finance at New York University's Stern School of Business, said a company's addition to the Dow would likely have little impact on its stock. Fewer mutual funds track or mimic the Dow than they do broader indexes such as the Standard & Poor's 500. That means there would be little more than some added publicity for the company that replaces GM, he said.

However, GM is also a component of the S&P 500, so a company chosen to replace it in that index could see a blip up in trading when funds that track the S&P 500 buy its shares.

GM would be the second firm to be removed from the Dow amid the ongoing economic crisis. Last September, insurer American International Group Inc was removed after the government took an 80 per cent stake in the firm to help it avoid complete collapse. AIG was replaced by Kraft Foods Inc on Sept 22.

A bankruptcy filing could also lead to GM's delisting from the New York Stock Exchange.

While GM currently meets all the minimum requirements for trading, a bankruptcy filing would spark a review among the qualitative standards that the exchange uses to determine if a company should be listed. Qualitative standards include the impact of bankruptcy filings, liquidity concerns or debt defaults.

A bankruptcy-related review would determine what will happen to current shareholders, and if there is any possibility shareholders would still retain value in the company after it exits the proceedings.

If GM's share price or other trading data falls below certain thresholds, that could also trigger a delisting.

Only one company that is currently under bankruptcy protection, W.R. Grace Co, is listed on the New York Stock Exchange.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The day's gains returned the S&P 500 index to the black for the year after sliding on Wednesday. The Dow is down 4.3 percent in 2009, while the Nasdaq is up 11.1 percent.

Interest rate movements called the shots on Wall Street for the second straight day.

The bond market recovered on Thursday, bringing stocks along with it, a day after panicky selling pushed long-term borrowing rates to their highest level in six months.

Stock indicators rose more than 1 percent, including the Dow Jones industrial average, which gained almost 104 points.

The yield on the 10-year Treasury note, a widely used benchmark for mortgages and other kinds of loans, moved decisively lower to 3.62 percent from 3.75 percent the day before as investors were relieved to see ample demand at an auction for Treasury debt.

*The NYSE DOW closed HIGHER +103.78 points +1.25% on Thursday May 28*
Sym Last........ ........Change.......... 
Dow 8,403.80 +103.78 +1.25% 
Nasdaq 1,751.79 +20.71 +1.20% 
S&P 500 906.83 +13.77 +1.54% 
30-yr Bond 4.5300% -0.0760 

NYSE Volume 7,002,272,500  (prior day 6,852,967,000)
Nasdaq Volume 2,244,344,250  (prior day 2,195,047,750) 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,387.54 -28.69 -0.65% 
DAX 4,932.88 -67.89 -1.36% 
CAC 40 3,263.70 -31.16 -0.95% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,451.39 +12.62 +0.13%  
Hang Seng 17,885.27 +893.71 +5.26% 
Straits Times 2,292.97 -13.11 -0.57% 

http://finance.yahoo.com/news/Stocks-jump-on-relief-over-apf-15377073.html

*Stocks jump on relief over gov't debt auction

Stocks jump on relief over good demand for government debt; Oil jumps to 6-month high *

Tim Paradis, AP Business Writer
On Thursday May 28, 2009, 6:20 pm EDT

NEW YORK (AP) -- Interest rate movements called the shots on Wall Street for the second straight day.

The bond market recovered on Thursday, bringing stocks along with it, a day after panicky selling pushed long-term borrowing rates to their highest level in six months.

Stock indicators rose more than 1 percent, including the Dow Jones industrial average, which gained almost 104 points.

The yield on the 10-year Treasury note, a widely used benchmark for mortgages and other kinds of loans, moved decisively lower to 3.62 percent from 3.75 percent the day before as investors were relieved to see ample demand at an auction for Treasury debt.

The note's yield had surged the day before, triggering a selloff in stocks, on concerns that a flood of U.S. government debt coming to market this year would overwhelm demand. In addition to raising borrowing costs for the government, higher yields on long-term Treasurys could threaten a recovery by driving up borrowing costs for consumers. The Federal Reserve has said it would buy large amounts of Treasurys and other kinds of debt in an effort to keep borrowing costs low.

Stock trading could remain jumpy going forward as investors look closely at interest rates as well as economic data for confirmation that the market's aggressive bet this spring on an economic recovery is still sound. The Standard & Poor's 500 index is still up 34 percent from a 12-year low in early March.

"The market is absolutely being held hostage to the data," said David Joy, chief market strategist at Ameriprise Financial Inc.'s RiverSource Investments.

Joy pointed to the market's immediate reaction after the Treasury auction Thursday of $26 billion in 7-year notes, part of the $101 billion in debt the government offered this week. "There was a real sigh of relief," he said.

The Dow rose 103.78, or 1.3 percent, to 8,403.80. The S&P 500 index rose 13.77, or 1.5 percent, to 906.83, and the Nasdaq composite index advanced 20.71, or 1.2 percent, to 1,751.79.

The day's gains returned the S&P 500 index to the black for the year after sliding on Wednesday. The Dow is down 4.3 percent in 2009, while the Nasdaq is up 11.1 percent.

The stock market logged its best month in nine years in April, but the advances heading into the final day of trading for May are far more modest. Still, a gain for May would mark the third straight month of rising stock prices.

Trading was choppy in the first half of the day on Thursday, following disappointing news on new home sales and foreclosures, while energy shares drew support from a jump in crude oil prices.

Light, sweet crude rose $1.63 to settle at $65.08 a barrel on the New York Mercantile Exchange, a six-month high. Marathon Oil Corp. jumped $1.77, or 6.1 percent, to $31.01, and Devon Energy Corp. rose $2.02, or 3.4 percent, to $62.31.

New data on the housing market -- a key area of concern for investors -- wasn't encouraging.

The government said sales of new homes edged up only 0.3 percent in April, less than analysts expected, and a separate report showed that a record 12 percent of mortgage holders were behind on payments or in foreclosure in the first quarter.

Homebuilder stocks fell after the poor housing data came out and on worries that mortgage rates could move higher. Toll Brothers Inc. fell 58 cents, or 3.2 percent, to $17.44, while Beazer Homes USA Inc. fell 18 cents, or 7 percent, to $2.39.

"We still have headwinds ahead, in terms of the housing market going down," said Michael Sheldon, chief market strategist at RDM Financial Group.

Financial stocks also rose. JPMorgan Chase & Co. rose $1.99, or 5.7 percent, to $36.65, while PNC Financial Services Group Inc. rose $2.55, or 6.2 percent, to $43.66.

Investors were also focusing on General Motors Corp., which said a committee of bondholders agreed to a sweetened deal to erase some of GM's unsecured debt in exchange for stock. The agreement may not prevent the automaker from seeking bankruptcy court protection, but investors are eager for any signs that a reorganization would be orderly. GM shares rose 15 cents, or 13 percent, to $1.30.

In other trading Thursday, the Russell 2000 index of smaller companies rose 2.35, or 0.5 percent, to 492.21.

About two stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.4 billion shares, compared with 1.3 billion shares Wednesday.

The dollar was mixed against other major currencies. Gold prices rose.

Overseas, Britain's FTSE 100 fell 0.7 percent, Germany's DAX index fell 1.4 percent, and France's CAC-40 slid 0.8 percent. Japan's Nikkei stock average edged up 0.1 percent.
372


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

All three indexes rose sharply for the week and, more importantly, had their third straight winning month. The Dow is up 4.1 percent for May, the S&P 500 index is up 5.3 percent, and the Nasdaq is up 3.3 percent.

Wall Street sealed the third month of its spring rally with a huge advance. The fourth month looks a little less certain.

Stocks shot higher right before the closing bell Friday after fluctuating on a mix of economic data. Analysts said the surge was the work of short-sellers who had bet that stocks would fall and then had to rush to buy when those bets turned out to be wrong.

A jump in commodities prices, which came on expectations that an improving economy will lift demand for raw materials, also fed the advance.

*The NYSE DOW closed HIGHER +96.53 points +1.15% on Friday May 29*
Sym Last........ ........Change.......... 
Dow 8,500.33 +96.53 +1.15% 
Nasdaq 1,774.33 +22.54 +1.29% 
S&P 500 919.14 +12.31 +1.36% 
30-yr Bond 4.34% -0.19 

NYSE Volume 6,975,596,000 (prior day 7,002,272,500)
Nasdaq Volume  2,592,391,750 (prior day 2,244,344,250)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,417.94 +30.40 +0.69% 
DAX 4,940.82 +7.94 +0.16% 
CAC 40 3,277.65 +13.95 +0.43% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,522.50 +71.11 +0.75% 
Hang Seng 18,171.00 +285.73 +1.60% 
Straits Times 2,329.08 +36.11 +1.57% 

http://finance.yahoo.com/news/Stock-market-soars-in-lateday-apf-15388171.html

*Stock market soars in late-day rally

Stocks shoot higher in late-day rally after mixed data, commodities advance *
Madlen Read, AP Business Writer
On Friday May 29, 2009, 5:16 pm EDT

NEW YORK (AP) -- Wall Street sealed the third month of its spring rally with a huge advance. The fourth month looks a little less certain.

Stocks shot higher right before the closing bell Friday after fluctuating on a mix of economic data. Analysts said the surge was the work of short-sellers who had bet that stocks would fall and then had to rush to buy when those bets turned out to be wrong.

A jump in commodities prices, which came on expectations that an improving economy will lift demand for raw materials, also fed the advance.

Even though Wall Street ended May with a big win, it was the shakiest month of the spring rally that started in early March with the first signs that the economy's slide was slowing. When trading resumes Monday, investors are expected to show more of their recent skepticism about how strong the recovery will be once the recession has ended.

New worries are weighing on investors including climbing interest rates and a weaker dollar. Crude oil prices recently hit a six-month high above $66 a barrel, while the dollar on Friday sank to its lowest level in months against the euro and British pound. Some analysts say these developments are simply the consequence of a recovery in the economy and the financial markets, but others warn these trends could threaten the economy's health in the long-term.

Another more short-term obstacle is General Motors Corp.'s expected bankruptcy filing on Monday, the automaker's restructuring deadline. The market has been factoring in the likelihood of a GM bankruptcy for months, but investors still are unsure what the fallout might be for auto suppliers and other companies.

"Technically, the market is looking quite good," said Peter Cardillo, chief market economist at the brokerage house Avalon Partners Inc. "Although, I suspect we'll probably stay within this trading range for another couple of weeks."

The Dow Jones industrial average rose 96.53, or 1.2 percent, to 8,500.33. The Standard & Poor's 500 index gained 12.31, or 1.4 percent, to 919.14, while the Nasdaq composite index rose 22.54, or 1.3 percent, to 1,774.33.

All three indexes rose sharply for the week and, more importantly, had their third straight winning month. The Dow is up 4.1 percent for May, the S&P 500 index is up 5.3 percent, and the Nasdaq is up 3.3 percent.

Friday's economic data prevented the market from finding a direction for much of the day. Commerce Department's report on first-quarter gross domestic product showed the economy contracted at an annual rate of 5.7 percent, a bit more than analysts' forecasts. Also, personal spending was revised lower. But the drop in GDP was smaller than the 6.1 percent estimated last month, and the report showed corporate profits rising.

The report "points to recovery," Cardillo said. "And what you have here is a market that continues to look for recovery."

The Chicago-area purchasing executives monthly report of Midwest manufacturing activity showed a bigger decrease in May than in April. Analysts had anticipated a smaller contraction. The report is viewed as a precursor to the Institute for Supply Management's national manufacturing index, due Monday.

But helping counteract that disappointing report was the University of Michigan's index of consumer sentiment, which showed a larger-than-expected increase in May. Another report earlier in the week suggested an upswing in consumer confidence, too.

Government bonds rose, pushing down yields. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.46 percent from 3.62 percent late Thursday.

The 10-year yield hit a six-month high of 3.75 percent on Wednesday. Spiking interest rates earlier this week stoked concerns about Americans' ability to borrow and refinance mortgages.

Oil prices have been jumping to six-month highs as the dollar tumbles. Light, sweet crude rose $1.23 to settle at $66.31 a barrel on the New York Mercantile Exchange. Gold and silver prices rose as well.

Rising commodities prices have driven some of the best performers in the stock market over the past month: Metal and coal producers, miners and pipelines.

Technology stocks have also picked up in recent weeks.

The weakening dollar is also drawing more investors, like Robert Pavlik of Banyan Partners LLC, to the stocks of multinational companies. Those companies can export more and earn higher overseas revenues when the dollar is down, he said.

The worst performers in May were companies tied to the housing market and discretionary spending, such as construction companies, home improvement retailers, furniture makers and consumer electronics sellers. And financial stocks, while holding up, have not been leading the market higher as they were in March and April.

The Russell 2000 index of smaller companies rose 9.37, or 1.9 percent, to 501.58.

Advancing stocks outnumbered declining stocks by more than 3 to 1 on the New York Stock Exchange, where volume was 1.86 billion shares. Volumes were lighter than on Thursday.

Overseas, Japan's Nikkei stock average rose 0.8 percent. Britain's FTSE 100 rose 0.7 percent, Germany's DAX index rose 0.2 percent, and France's CAC-40 rose 0.4 percent.
418


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*A VOLUNTEER IS REQUIRED TO POST THIS FORUM PAGE EACH DAY FOR TWO WEEKS - I WILL BE OVERSEAS UNTIL JUNE 20; PLEASE ADVISE*

The stock market began June with a strong rally, thanks to another wave of benign economic data.

But some investors are nervous that the month, traditionally a weak one for stocks, may not end as well. The market's gains on Monday came despite signs that the economy might have a tough slog ahead of it, including rising interest rates and the nation's fourth-largest bankruptcy ever.

Traders homed in Monday on better-than-expected readings on manufacturing, consumer spending and construction spending. The Dow Jones industrial average and other major indexes rose more than 2 percent, and the Standard & Poor's 500 index and Nasdaq composite rose to their highest levels this year.


*The NYSE DOW closed HIGHER +221.11 points +2.60% on Monday June 1*
Sym Last........ ........Change.......... 
Dow 8,721.44 +221.11 +2.60% 
Nasdaq 1,828.68 +54.35 +3.06% 
S&P 500 942.87 +23.73 +2.58% 
30-yr Bond 4.5750% +0.2370 

NYSE Volume 7,682,703,500 (prior day 6,975,596,000)
Nasdaq Volume 2,658,125,750 (prior day 2,592,391,750) 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,506.19 +88.25 +2.00% 
DAX 5,142.56 +201.74 +4.08% 
CAC 40 3,379.49 +101.84 +3.11% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,677.75 +155.25 +1.63% 
Hang Seng 18,888.59 +717.59 +3.95% 
Straits Times 2,380.07 +50.99 +2.19% 

http://finance.yahoo.com/news/Stocks-rally-after-positive-apf-15405628.html

*Stocks rally after positive economic data

Stock market starts off June with a rally after upbeat economic data; Dow ends up 221 *
Madlen Read, AP Business Writer
On Monday June 1, 2009, 5:47 pm EDT

NEW YORK (AP) -- The stock market began June with a strong rally, thanks to another wave of benign economic data.

But some investors are nervous that the month, traditionally a weak one for stocks, may not end as well. The market's gains on Monday came despite signs that the economy might have a tough slog ahead of it, including rising interest rates and the nation's fourth-largest bankruptcy ever.

Traders homed in Monday on better-than-expected readings on manufacturing, consumer spending and construction spending. The Dow Jones industrial average and other major indexes rose more than 2 percent, and the Standard & Poor's 500 index and Nasdaq composite rose to their highest levels this year.

But while the economic data suggested the economy's decline is moderating, they did not indicate a rebound yet. Construction spending rose in April, but personal spending was down slightly. Personal incomes were flat and U.S. manufacturing activity contracted for the 16th straight month in May, although at a slower pace.

Monday also brought General Motors Corp.'s bankruptcy filing, the fourth-largest in U.S. history. The filing didn't come as a shock, but it did serve as a reminder of the government's heavy involvement in corporate America following the takeovers of American International Group Inc. and the mortgage giants Freddie Mae and Freddie Mac.

Separately, a trend that ruffled investors last week -- falling Treasury prices and surging yields -- resumed Monday as economic data topped estimates and drove the dollar lower. Unlike last week, the stock market shrugged off the rise in long-term borrowing rates, which some fear could hamper a recovery by driving up interest rates on mortgages and other consumer loans.

With the stock market now nearly three months old, a number of analysts think the market has come too far, too fast since hitting 12-year lows in early March. The S&P 500 had its quickest recovery since the 1930s.

"I can't really buy into today's super-happy stock market," said Kim Caughey, equity research analyst at Fort Pitt Capital Group. She said she was skeptical because even if the economy is stabilizing, there is little to drive demand once it bottoms.

Analysts pointed out that technical factors also pushed stocks higher on Monday. The first trading day of the month often brings with it a surge of new money from mutual funds, and the S&P and Dow both broke through their 200-day moving averages for the first time in well over a year. Moving averages are closely watched technical barometers for the market, and some traders will automatically buy or sell if those levels are breached.

The Dow rose 221.11, or 2.6 percent, to 8,721.44, its highest close since early January. The index is now down only 55 points, or 0.6 percent, for the year.

The Standard & Poor's 500 index rose 23.73, or 2.6 percent, to 942.87, while the Nasdaq composite index rose 54.35, or 3.1 percent, to 1,828.68.

So far, this year's stock market has had an eerily similar pattern to last year's, noted Shaeffer's Investment Research analyst Todd Salamone, falling until mid-March and then gaining through May. Then in June of last year, the market started to sink. Salamone pointed out that the average return for the month of June during the past 20 years is negative 0.5 percent.

Standard & Poor's chief economist David Wyss said he expects the U.S. economy to bottom out late this summer or early in the fall, and then experience only a "rather sluggish" recovery. Wyss predicted U.S. gross domestic product -- all of the goods and services produced in a country -- to drop 3.1 percent this year, with even sharper declines in European economies and Japan.

Another hurdle that's approaching later this summer: Second-quarter corporate earnings results. If those come in worse than investors anticipated, Caughey said, "we'll have a reason to hate the market again."

So while the stock market's technical achievements Monday helped bring about gains, they are also raising questions about the staying power of those gains.

Jack Ablin, chief investment officer at Harris Private Bank, noted that returns are much better when the stock market is trading above its 200-day moving average, but that the statistic itself can send "a number of false signals."

Also, trading on the first day of the month is generally much stronger than normal. The S&P 500 index was down about 34 percent in the 10 years leading up to May 1. But according to S&P data, if someone invested in the index only on the first day of the month over that time frame, he would have gained 21 percent.

Government bonds fell again Monday, driving yields back near last week's highs. The yield on the 10-year Treasury note, used as a benchmark for home mortgages and other consumer loans, rose to 3.68 percent from 3.46 percent late Friday.

The dollar weakened further Monday against the euro and the British pound. Gold slipped, but oil jumped.

Advancing stocks outnumbered decliners by about 5 to 1 on the New York Stock Exchange, where volume came to 1.5 billion shares, similar to Friday.

The Russell 2000 index of smaller companies rose 19.75, or 3.9 percent, to 521.33.

Manufacturing surveys out of Europe and Asia topped estimates, which drove up markets overseas. Japan's Nikkei stock average jumped 1.6 percent, while Hong Kong's Hang Seng index soared 4.0 percent. In Europe, Britain's FTSE 100 rose 2 percent, Germany's DAX index rose 4.1 percent and France's CAC-40 gained 3.1 percent.
595


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*VOLUNTEER REQUIRED TO POST THIS FORUM PAGE EACH DAY FOR TWO WEEKS - I WILL BE OVERSEAS UNTIL JUNE 20; PLEASE ADVISE*

Investors slowed their move into the market from a sprint to a walk.

Stocks tacked on modest gains Tuesday to extend a rally to a fourth day following a strong rise in pending home sales, the latest encouraging signal for the troubled housing market.

The Dow Jones industrial average briefly pushed into the black for 2009 but ended 35.5 points below the break-even mark. In March, the blue chips were down more than 2,200 points, or 25.4 percent, for the year.

*The NYSE DOW closed HIGHER +19.43 points +0.22% on Tuesday June 2*
Sym Last........ ........Change.......... 
Dow 8,740.87 +19.43 +0.22% 
Nasdaq 1,836.80 +8.12 +0.44% 
S&P 500 944.74 +1.87 +0.20% 
30-yr Bond 4.4890% -0.0860 

NYSE Volume 7,020,117,500  (prior day 7,682,703,500)
Nasdaq Volume 2,417,972,500  (prior day 2,658,125,750)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,477.02 -29.17 -0.65% 
DAX 5,144.06 +1.50 +0.03% 
CAC 40 3,378.04 -1.45 -0.04% 



*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,704.31 Nikkei stock average rose 0.3 percent. 
Hang Seng 18,389.08 0.00 0.00% 
Straits Times 2,375.82 0.00 0.00% 

http://finance.yahoo.com/news/Stock...19134.html?sec=topStories&pos=1&asset=&ccode=

*Stocks extend gains to 4th day; Banks slide

Stocks add to advance after upbeat housing report; Selling in financials caps market's gains *
Tim Paradis, AP Business Writer
On Tuesday June 2, 2009, 5:50 pm EDT

NEW YORK (AP) -- Investors slowed their move into the market from a sprint to a walk.

Stocks tacked on modest gains Tuesday to extend a rally to a fourth day following a strong rise in pending home sales, the latest encouraging signal for the troubled housing market.

The Dow Jones industrial average briefly pushed into the black for 2009 but ended 35.5 points below the break-even mark. In March, the blue chips were down more than 2,200 points, or 25.4 percent, for the year.

A report showing April recorded the biggest jump in pending home sales in nearly eight years gave the market fresh fuel to push higher. But a slump in financial shares kept overall buying in check as several big banks said they would sell more stock to repay federal bailout money.

The modest moves followed huge gains on Monday, when indicators jumped more than 2 percent on positive signs for manufacturing and other good economic signals.

William Rutherford, president of Rutherford Investment Management LLC in Portland, Ore., worries that even with promising economic data the three-month rally in stocks might be overdone.

"The economy has to recover nicely to justify the recent run-up and I don't know whether it's got that much momentum in it," he said.

The Dow rose 19.43, or 0.2 percent, to 8,740.87. The index at times traded above 8,776.39, its finish for 2008. While it remains down moderately for the year, the Dow is up 5.3 percent in four days, its best run since early April.

The Standard & Poor's 500 index rose 1.87, or 0.2 percent, to 944.74, and the Nasdaq composite index rose 8.12, or 0.4 percent, to 1,836.80. Both indexes are up for 2009.

Financial stocks mostly lost ground as several banks said they would sell shares to raise capital. Adding to their share base can dilute the value of existing shares.

Morgan Stanley said it will raise $2.2 billion in a stock offering, after JPMorgan Chase & Co. and American Express Co. announced similar plans late Monday. JPMorgan will offer $5 billion of common stock, while American Express is seeking to raise $500 million.

Morgan Stanley rose 20 cents to $30.09, while JPMorgan fell $1.61, or 4.5 percent, to $34.50. American Express slid $1.28, or 4.9 percent, to $24.71.

Meanwhile, Goldman Sachs Group Inc. has sold part of its stake in Industrial & Commercial Bank of China to raise more than $1.9 billion to help repay bailout money. Goldman fell $1.20 to $143.13.

"We've seen a drumbeat of new issuance in the banking sector. So far, the market has been able to absorb the supply pretty well. It's going to be yet another test," said Craig Peckham, an analyst at Jefferies & Co.

Investors drew some confidence from slight improvements in auto sales reports for May following the bankruptcy filings of Chrysler LLC and General Motors Corp. Ford rose 28 cents, or 4.6 percent, to $6.41. GM shares no longer trade on the New York Stock Exchange and Chrysler isn't public.

Investors have been encouraged this spring by data suggesting the economy's slide is slowing, sending major stock indicators up 30 to 40 percent from the 12-year lows they hit in early March. The market has been able to look past unsettling but widely expected events such as the bankruptcies of Chrysler and GM, as well as dismal reports on the labor market.

Market analysts warn, however, that some pullback is likely in order for the market to build sustainable gains. Straight-line advances tend to worry stock watchers as signs of indiscriminate buying that could quickly evaporate at the first sign of trouble.

This week investors will be closely watching a stream of economic reports -- particularly the monthly jobs data on Friday -- for more signals on where to take the market next.

The report on pending home sales lifted home builder stocks. Beazer Homes USA Inc. rose 24 cents, or 9.1 percent, to $2.87, while Toll Brothers Inc. rose 73 cents, or 3.9 percent, to $19.53.

About three stocks rose for every two that fell on the NYSE, where consolidated volume came to a light 5.8 billion shares compared with 6.2 billion shares Monday.

The Russell 2000 index of smaller companies rose 5.30, or 1 percent, to 526.63.

Interest rates on long-term Treasurys fell after jumping back and approaching last week's highs on Monday. The yield on the 10-year Treasury note, which is used as a benchmark for home mortgages and other consumer loans, fell to 3.62 percent from 3.68 percent late Monday. Investors have been mindful in recent weeks of how rising yields could hamper an economic recovery by driving up interest rates.

The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude fell 3 cents to settle at $68.55 on the New York Mercantile Exchange after finishing at its highest level of the year on Monday.

Overseas, Britain's FTSE 100 fell 0.7 percent, Germany's DAX index rose less than 0.1 percent, and France's CAC-40 slipped less than 0.1 percent. Japan's Nikkei stock average rose 0.3 percent.
646


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

VOLUNTEER REQUIRED TO POST THIS FORUM PAGE EACH DAY FOR TWO WEEKS - I WILL BE OVERSEAS UNTIL JUNE 20; PLEASE ADVISE

The problem with rising expectations is they get tougher to beat.

Investors broke the stock market's four-day rally and sold off after data on the services industry and factory orders came in below forecasts. Factory orders actually rose in April, but the report disappointed investors who anticipated a larger increase.

The Dow Jones industrial average fell almost 66 points, or 0.8 percent, while the Standard & Poor's 500 index fell 1.4 percent. The Nasdaq composite index, which has been outperforming the other indicators this year, fell just 0.6 percent.


*The NYSE DOW closed LOWER -65.63 -0.75% on Wednesday June 3*
Sym Last........ ........Change.......... 
Dow 8,675.24 -65.63 -0.75% 
Nasdaq 1,825.92 -10.88 -0.59% 
S&P 500 931.76 -12.98 -1.37% 
30-yr Bond 4.4450% -0.0440 

NYSE Volume 6,288,445,500 (prior day 7,020,117,500)
Nasdaq Volume 2,311,343,750 (prior day 2,417,972,500)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,383.42 -93.60 -2.09% 
DAX 5,054.53 -89.53 -1.74% 
CAC 40 3,309.65 -68.39 -2.02% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,741.67 +37.36 +0.38% 
Hang Seng 18,576.47 +187.39 +1.02% 
Straits Times 2,383.82 +8.00 +0.34% 

http://finance.yahoo.com/news/Worsethanexpected-economic-apf-15432049.html

*Worse-than-expected economic data thwarts rally

Stocks fall, breaking 4-day rise, on worse-than-expected data on factory orders, services *

Madlen Read and Sara Lepro, AP Business Writers
On Wednesday June 3, 2009, 5:33 pm EDT

NEW YORK (AP) -- The problem with rising expectations is they get tougher to beat.

Investors broke the stock market's four-day rally and sold off after data on the services industry and factory orders came in below forecasts. Factory orders actually rose in April, but the report disappointed investors who anticipated a larger increase.

The Dow Jones industrial average fell almost 66 points, or 0.8 percent, while the Standard & Poor's 500 index fell 1.4 percent. The Nasdaq composite index, which has been outperforming the other indicators this year, fell just 0.6 percent.

Optimism about the economy stabilizing has lifted the Dow 32.5 percent from its 12-year low reached in early March. Over those three months, topping investors' expectations meant clearing a relatively low bar.

Alan Gayle, senior investment strategist at RidgeWorth Capital Management, said he began increasing his stock holdings in March on signs that economic data was becoming "less bad."

Now, Gayle said, "'less bad' is not good enough."

Even Federal Reserve Chairman Ben Bernanke was no longer emphasizing signs of economic stabilization on Wednesday, as he has done in recent months. In testimony to Congress, Bernanke focused instead on the government's growing debt load, saying that failing to ease the deficit could undermine efforts to revitalize the economy.

In the last hour of trading, however, some traders bought back into the stock market to take advantage of reduced prices, said Ryan Larson, senior equity trader at Voyageur Asset Management. It's the tactic known as bargain hunting, or "buying the dips," and the move signaled that many market participants still believe the rally has legs.

"At some point, it's hard to fight the trend, and the trend over the last couple of months has been up," Larson said. "People don't want to be left out."

The Dow fell 65.63, or 0.8 percent, to 8,675.24. The Standard & Poor's 500 index fell 12.98, or 1.4 percent, to 931.76. The Nasdaq composite index fell 10.88, or 0.6 percent, to 1,825.92.

The S&P 500 index and Nasdaq pulled back from their highest levels so far this year, reached Tuesday. Both the S&P and Nasdaq are still up for the year, but the Dow has yet to break back into positive territory for 2009. It got within 35 points, or 0.4 percent, of that break-even point on Tuesday.

There were more than twice as many losing stocks as winners on the New York Stock Exchange Wednesday, where consolidated volume was 5.2 billion shares, down from 5.8 billion a day earlier.

Some of the biggest declines were in energy, industrial and material stocks -- all areas that have benefited in recent days from gains in commodity prices.

Oil prices pulled back Wednesday after a weeklong rally as the government reported a big jump in crude storage levels, signaling continued weak demand.

As crude shed $2.43 to finish at $66.12 a barrel on the New York Mercantile Exchange, Valero Energy Corp. sank $3.98, or 17.8 percent, to $18.40, and Sunoco Inc. dropped $2.27, or 7.5 percent, to $28.03.

Investors in both stocks and energy were displeased with the Commerce Department report showing a smaller-than-expected rise in factory orders. Though it was the second gain in the past three months, orders rose just 0.7 percent in April when analysts had called for a 0.9 percent increase.

Also, the Institute for Supply Management, a trade group of purchasing executives, said the services sector shrank in May at the slowest pace since October. The barometer was below economists' estimates and marked the eighth straight monthly decline.

The rally's staying power will face more tests this week as retailers report May sales results Thursday and as the Labor Department releases jobs data Friday. The monthly jobs report is one of the most closely watched indicators of the economy's health.

Matt King, chief investment officer of Oakland, Calif.-based Bell Investment Advisors, said the market's dips are an opportunity for investors to increase their stock holdings.

"We're trying to caution people that just because the market pulls back doesn't mean we're heading back to the bottom," he said.

Still, analysts are keeping a close eye on rising Treasury yields and a weakening dollar. Investors are concerned those factors, largely an outcome of the government's massive stimulus efforts and the improved outlook on the economy, could also hinder a robust recovery.

Rising yields could lead to higher interest rates on mortgages and other types of consumer loans to which they are linked, while a falling dollar could trigger inflation and restrict the buying power of consumers.

On Wednesday, however, both Treasurys and the dollar rebounded.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, slipped to 3.54 percent from 3.62 percent. Last week, the 10-year yield surged to a six-month high of 3.75 percent.

The dollar gained ground against the euro and the British pound, while gold prices sank.

The Russell 2000 index of smaller companies fell 3.92, or 0.7 percent, to 522.71.

Overseas, Japan's Nikkei stock average added 0.4 percent, Britain's FTSE 100 fell 2.1 percent, Germany's DAX index fell 1.7 percent, and France's CAC-40 fell 2.0 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Traders are betting that an improving economy will reward banks and energy companies.

Stocks rose for the fifth time in six days Thursday after analysts raised their ratings on banks and oil prices rose again, making energy firms look increasingly attractive. Investors were also willing to take more chances on stocks after the government reported that the number of workers continuing to receive unemployment benefits unexpectedly fell for the first time in 20 weeks.

The drop in unemployment rolls, as well as in first-time claims for jobless benefits, gave investors another bit of hope that the economy is finding a more stable footing. The idea that the economy is halting its slide has driven a powerful rally that has lifted the Standard & Poor's 500 index 39.8 percent in three months.


*The NYSE DOW closed HIGHER +74.96 points +0.86% on Thursday June 4*
Sym Last........ ........Change.......... 
Dow 8,750.24 +74.96 +0.86% 
Nasdaq 1,850.02 +24.10 +1.32% 
S&P 500 942.46 +10.70 +1.15% 
30-yr Bond 4.5950% +0.1500 

NYSE Volume 6,341,319,500 (prior day 6,288,445,500)
Nasdaq Volume 2,508,170,500 (prior day 2,311,343,750)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,386.94 +3.52 +0.08% 
DAX 5,064.80 +10.27 +0.20% 
CAC 40 3,312.03 +2.38 +0.07% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,668.96 -72.71 -0.75% 
Hang Seng 18,502.77 -73.70 -0.40% 
Straits Times 2,362.74 -21.08 -0.88% 

http://finance.yahoo.com/news/Financial-energy-stocks-pull-apf-15444813.html

*Financial, energy stocks pull market higher

Stocks rebound as traders see promise in bank, energy stocks; jobless claims fall unexpectedly *
Tim Paradis and Sara Lepro, AP Business Writers
On Thursday June 4, 2009, 6:13 pm EDT

NEW YORK (AP) -- Traders are betting that an improving economy will reward banks and energy companies.

Stocks rose for the fifth time in six days Thursday after analysts raised their ratings on banks and oil prices rose again, making energy firms look increasingly attractive. Investors were also willing to take more chances on stocks after the government reported that the number of workers continuing to receive unemployment benefits unexpectedly fell for the first time in 20 weeks.

The drop in unemployment rolls, as well as in first-time claims for jobless benefits, gave investors another bit of hope that the economy is finding a more stable footing. The idea that the economy is halting its slide has driven a powerful rally that has lifted the Standard & Poor's 500 index 39.8 percent in three months.

The data arrived a day ahead of the government's monthly tally of job losses -- often seen as the most important report on the economic calendar. The unemployment rate stood at a 25-year high of 8.9 percent in April and economists expect it will rise to 9.2 percent when the May report is issued Friday.

Investors are looking for any sign that unemployment is ebbing because that could help shore up consumer spending, retail sales and the housing market.

"Things seem to have stabilized and people are hunting for any sort of information they can get to determine the next move in the market and the economy," said Jim Sinegal, equity analyst at Morningstar in Chicago.

The Dow Jones industrial average rose 74.96, or 0.9 percent, to 8,750.24. The broader Standard & Poor's 500 index rose 10.70, or 1.2 percent, to 942.46, and the Nasdaq composite rose 24.10, or 1.3 percent, to 1,850.02.

The S&P and Nasdaq are at new highs for the year, and both are showing gains for 2009. The Dow is now down only 26 points for the year after having been in the red since early January.

Bond prices fell after the drop in jobless claims. Fewer worries about the economy made the safety of government debt less attractive. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.71 percent from 3.54 percent. The yield has been fluctuating recently as investors absorbed a mix of economic data.

The gains in financial and energy stocks offset mixed reports from retailers on their May sales.

Banks got a boost after RBC Capital Markets analysts said the worst of the financial crisis is over. The KBW Bank index, which tracks 24 of the nation's largest banks, rose 4.8 percent.

KeyCorp. jumped 90 cents, or 19.6 percent, to $5.50 after an upgrade from RBC, while Goldman Sachs Group Inc. rose $7.32, or 5.2 percent, to $149.47 after a Bernstein Research analyst raised his rating.

The improved data on unemployment and a weak dollar helped push oil prices to fresh highs for the year. Oil and other commodities have been rallying on expectations that an improving economy will lift demand.

Light, sweet crude rose $2.83 to settle at $68.71 a barrel on the New York Mercantile Exchange after climbing as high as $69.56, its highest level since November.

That helped energy companies. Anadarko Petroleum Corp. rose $1.52, or 3.2 percent, to $48.57, while Occidental Petroleum Corp. advanced $1.75, or 2.6 percent, to $68.62.

Retailers including Macy's Inc. and Abercrombie & Fitch Co. lost ground as traders worried that shoppers were still reluctant to spend. A year ago, sales benefited from government stimulus checks. Macy's fell 44 cents, or 3.3 percent, to $12.88, while Abercrombie slid $3.75, or 11.8 percent, to $27.95.

The market's surge this spring since hitting 12-year lows on March 9 has been driven by better-than-expected data. But investors are now looking for clearer indications that the economy is improving.

"If we're on the cusp of a recovery and a convincing recovery, then the stock market makes all the sense in the world," said Michael Darda, an economist with MKM Partners in Greenwich, Conn. "If it turns out there is no recovery until next year, then the market could run into some trouble."

On Wednesday, investors sold stocks following weaker-than-expected reports on factory orders and the services industry.

Scott Jacobson, chief investment strategist at Capstone Sales Advisors in New York, said investors should be careful about expecting that the gains will continue to come.

"It's too late right now to dump all your money into the stock market given where it is," he said.

Investors are likely to remain focused on concerns like unemployment and the dollar. The greenback has fallen steadily since early March as investors' appetite for riskier assets increased. A falling dollar can trigger inflation, hurting consumers' buying power.

In other trading, the Russell 2000 index of smaller companies rose 8.97, or 1.7 percent, to 531.68.

About three stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 5.1 billion shares compared with 5.2 billion traded Wednesday.

Last week, the 10-year yield surged to a six-month high of 3.75 percent on worries over mounting U.S. government debt loads. Investors are on edge because higher rates on mortgages and other loans could stall an economic recovery.

Overseas, Japan's Nikkei stock average fell 0.8 percent. Germany's DAX index rose 0.2 percent while Britain's FTSE 100 and France's CAC-40 each gained less than 0.1 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 262.80, or 3.1 percent, at 8,763.13. The Standard & Poor's 500 index rose 20.95, or 2.3 percent, to 940.09. The Nasdaq composite index rose 75.09, or 4.2 percent, to 1,849.42.

With unemployment still rising, investors are questioning if stocks should be, too.

Stocks ended a volatile day Friday little changed after the government reported a spike in the unemployment rate to 9.4 percent in May, the highest level in more than 25 years, even as the pace of layoffs eased more than expected.

The Dow Jones industrial average finished up almost 13 points at 8,763.13, just 14 points below where it started the year. The index had advanced as much as 89 points and moved in and out of positive territory for 2009 during the day, but the jump in the unemployment rate proved to be too tough to ignore.


*The NYSE DOW closed HIGHER +12.89 points	+0.15% on Friday June 5*
Sym Last........ ........Change.......... 
Dow	8,763.13	+12.89	+0.15%
Nasdaq	1,849.42	-0.60	-0.03%
S&P 500	940.09	-2.37	-0.25%
10 Yr Bond(%)	3.8620%	+0.1460

NYSE Volume 6,416,525,000 (prior day 6,341,319,500)
Nasdaq Volume 2,315,695,750 (prior day 2,508,170,500)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100	4,438.56	+51.62	+1.18%
DAX	5,077.03	+12.23	+0.24%
CAC 40	3,339.05	+27.02	+0.82%


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	9,768.01	+99.05	+1.02%
Hang Seng	18,679.53	+176.76	+0.96%
Straits Times	2,396.35	+33.61	+1.42%

http://finance.yahoo.com/news/Stock...55514.html?sec=topStories&pos=4&asset=&ccode=

*Stocks end flat as unemployment rate checks gains

Stocks finish mixed after job cuts slow in May, but unemployment rate rises to 9.4 percent*

    * Madlen Read and Sara Lepro, AP Business Writers
    * On Friday June 5, 2009, 5:52 pm EDT

NEW YORK (AP) -- With unemployment still rising, investors are questioning if stocks should be, too.

Stocks ended a volatile day Friday little changed after the government reported a spike in the unemployment rate to 9.4 percent in May, the highest level in more than 25 years, even as the pace of layoffs eased more than expected.

The Dow Jones industrial average finished up almost 13 points at 8,763.13, just 14 points below where it started the year. The index had advanced as much as 89 points and moved in and out of positive territory for 2009 during the day, but the jump in the unemployment rate proved to be too tough to ignore.

"When nearly 10 percent of people are out of work, it's hard for me to say things are so positive," said Anthony Conroy, head trader for BNY ConvergEx Group.

Bond prices tumbled again, sending long-term yields to their highest levels this year. Those yields are closely tied to interest rates on mortgages and other kinds of consumer loans.

Investors track unemployment closely since jobless people are far more likely to default on their debts and slash their spending, potentially exacerbating two of the most troubled spots in the economy right now: Consumer spending and the ailing financial industry.

Despite the troubling jobs data, the Dow and other major stock indexes finished the week higher. Although the Dow is still 38.1 percent below its October 2007 high, it has charged ahead 33.9 percent since hitting a 12-year low in early March.

"The markets are feeling better even though the economy is still sick," Conroy said.

The Dow rose 12.89, or 0.2 percent, to 8,763.13. The Standard & Poor's 500 index fell 2.37, or 0.3 percent, to 940.09, and the Nasdaq composite index fell 0.60, or less than 0.1 percent, to 1,849.42.

The Dow is up 3 percent for the week, while the S&P 500 is up 2 percent and the Nasdaq is up 3.7 percent. It was the major indexes' third straight week of gains.

The Labor Department said employers cut 345,000 jobs in May, far less than the 520,000 economists predicted, a hopeful sign for the job market. But the report also showed that the unemployment rate surged to 9.4 percent from 8.9 percent in April, suggesting that companies are still reluctant to hire.

The jobless rate is considered a "lagging" indicator, meaning that it usually recovers after the rest of the economy does. But economists expect the rate to keep rising.

"That is difficult to get comfortable with," said Richard Hughes, co-president of Portfolio Management Consultants.

May's job losses, the fewest since September, appeared too good to be true to some investors. Speculation swept the trading floors Friday morning that the government had misreported the job cut figure, sending stocks lower in midmorning trading before the Labor Department shot down the rumor.

Bond prices plunged as investors viewed the jobs data as a positive sign for the economy and shifted more funds out of bonds. Investors tend to load up on bonds, which are considered a safe-haven investment, during times of economic distress, and sell them when signs of recovery emerge.

The yield on the benchmark 10-year Treasury note, a widely used benchmark for interest rates on mortgages and other kinds of loans, jumped to a fresh high for the year of 3.91 percent from 3.71 percent late Thursday. By late Friday, the 10-year note's yield was 3.84 percent.

"There is pretty good evidence that the recession is bottoming," said Doug Roberts, chief investment strategist of ChannelCapitalResearch.com. "The real question is the type of recovery. Just because we're reaching a bottom doesn't mean a bounce is imminent."

Next week, investors will decide whether to extend the market's advance or cash in profits as they confront data from the Federal Reserve on regional economies; a report on retail sales from the Commerce Department; and a reading on consumer sentiment from the University of Michigan.

Stocks have rallied sharply over the past three months as improving economic data and better performance at banks gives investors hope that the recession could end some time this year.

But the banking system is hardly on firm footing. On Friday, The Wall Street Journal reported that the Federal Deposit Insurance Corp. is pressing for a management shake-up at Citigroup Inc. The embattled New York-based bank has already received $45 billion in government rescue funds. Last month, the government determined that it would need to raise an additional $5.5 billion as a buffer against future losses.

Citigroup fell 11 cents, or 3.1 percent, to $3.46.

Many analysts believe the stock market should keep rising, but in recent weeks investors have become worried about rising commodity prices and the sinking dollar, which can lead to inflation. Those inflation fears are lifting Treasury yields, which in turn are boosting mortgage rates and impeding borrowers' plans to refinance.

Arthur Hogan, chief market analyst at Jefferies & Co., said he has been recommending to clients that they invest in industries that do well if inflation accelerates. That means companies dealing in hard assets, such as energy, materials and industrial companies. Hogan has been advising against investing in financial firms and companies that rely on discretionary spending by consumers, such as retailers.

Oil prices briefly surpassed $70 a barrel following the jobs report, but retreated to close down 37 cents at $68.44 a barrel.

In other U.S. trading, the Russell 2000 index of smaller companies fell 1.32, or 0.3 percent, to 530.36.

Declining stocks narrowly outnumbered advancers on the New York Stock Exchange, where consolidated volume came to 5.2 billion shares, up from 5.1 billion Thursday.

Overseas, Japan's Nikkei stock average gained 1.0 percent. Britain's FTSE 100 rose 1.2 percent, Germany's DAX index rose 0.2 percent, and France's CAC-40 rose 0.8 percent.

The Dow Jones industrial average closed the week up 262.80, or 3.1 percent, at 8,763.13. The Standard & Poor's 500 index rose 20.95, or 2.3 percent, to 940.09. The Nasdaq composite index rose 75.09, or 4.2 percent, to 1,849.42.

The Russell 2000 index, which tracks the performance of small company stocks, rose 28.78, or 5.7 percent, for the week to 530.36.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 9,654.77, up 246.52, or 2.6 percent, for the week. A year ago, the index was at 14,339.94.
873


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors are finding more than one way to bet on an improving economy.

Stocks ended a quiet day mostly higher Tuesday as traders bought commodities and technology stocks.

The rise in commodities reflects hopes that economic activity will improve and boost the appetite for basic materials. A falling dollar also helped push commodity prices higher, and oil settled above $70 a barrel for the first time this year.

*The NYSE DOW closed LOWER -1.43 points -0.02% on Tuesday June 9*
Sym Last........ ........Change.......... 
Dow 8,763.06 -1.43 -0.02% 
Nasdaq 1,860.13 +17.73 +0.96% 
S&P 500 942.43 +3.29 +0.35% 
30-yr Bond 4.6530% +0.0180 

NYSE Volume 5,242,871,500  
Nasdaq Volume 2,177,677,250  


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,404.79 -0.43 -0.01% 
DAX 4,997.86 -6.86 -0.14% 
CAC 40 3,296.73 +7.07 +0.21% 

http://finance.yahoo.com/news/Technology-commodity-shares-apf-15482972.html

*Technology, commodity shares gain; Dow ends flat

Most stocks rise in quiet trading as Texas Instruments helps tech; Commodities lift materials *
Tim Paradis, AP Business Writer
On Tuesday June 9, 2009, 5:42 pm EDT

NEW YORK (AP) -- Investors are finding more than one way to bet on an improving economy.

Stocks ended a quiet day mostly higher Tuesday as traders bought commodities and technology stocks.

The rise in commodities reflects hopes that economic activity will improve and boost the appetite for basic materials. A falling dollar also helped push commodity prices higher, and oil settled above $70 a barrel for the first time this year.

Technology stocks rose as an improved profit forecast from chip maker Texas Instruments Inc. raised hopes that demand could also increase for electronics. Intel Corp. and Cisco Systems Inc. have also issued optimistic comments recently, bolstering the case for technology shares.

Analysts said the third consecutive day of modest moves in the market was a welcome sign after a 39.3 percent surge in the Standard & Poor's 500 index from 12-year lows three months ago.

Even if those gains continue to hold up, many market watchers doubt that the market will continue to march ahead with anything like the conviction it showed this spring.

"The next three months are just going to be a long, hot flat summer. I don't see a catalyst," said Scott Armiger, portfolio manager at Christiana Bank & Trust in Greenville, Del.

The Dow Jones industrial average fell 1.43, or less than 0.1 percent, to 8,763.06. The broader S&P 500 index rose 3.29, or 0.4 percent, to 942.43, and the technology-heavy Nasdaq composite index rose 17.73, or 1 percent, to 1,860.13.

Robust demand at a government auction of three-year notes reassured investors who have worried in recent weeks that rising interest rates would choke off a recovery by making it more expensive for consumers to get loans.

Another test of investor appetite for debt comes Wednesday with an auction of $19 billion in 10-year notes.

The price of the benchmark 10-year Treasury note rose slightly, pushing its yield down to 3.86 percent from 3.89 percent Monday.

Financial shares were mixed after the Treasury Department said it would allow 10 large banks repay $68 billion in federal bailout money. Those companies are among the 19 given money from a rescue fund created last October at the height of the financial crisis.

"It's part of the healing process," said Rob Lutts, chief investment officer at Cabot Money Management.

Among banks repaying loans, American Express Co. rose $1.28, or 5 percent, to $26.93, while JPMorgan Chase & Co. slipped 13 cents to $35.26.

Texas Instruments rose $1.25, or 6.3 percent, to $21.02.

U.S. Steel Corp. rose $2.76, or 7.9 percent, to $37.82. Schlumberger Ltd., which works in oil fields, rose $1.52, or 2.7 percent, to $58.85.

The Russell 2000 index of smaller companies rose 3.14, or 0.6 percent, to 527.93.

About three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume slipped to 4.3 billion shares from 4.4 billion Monday.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

For the week, the Dow edged up 0.4 percent. It was the fourth straight weekly gain for the blue chips and the 12th of the last 14.

The S&P 500 index rose 0.7 percent for the week and the Nasdaq added 0.5 percent. The indexes are all positive for the year.

The stock market's rally is on hold and it's not clear what might get it moving again.

Stock indicators barely budged this week after big gains in the prior week. The Dow Jones industrial average did manage to push into the black for the year with a modest gain on Friday but many traders are still cautious.

The Dow Jones industrial average rose 28.34, or 0.3 percent, to 8,799.26. It was the Dow's highest close since Jan. 6.

The broader S&P 500 index rose 1.32, or 0.1 percent, to 946.21, and the Nasdaq composite index fell 3.57, or 0.2 percent, to 1,858.80.


*The NYSE DOW closed HIGHER +28.34 points +0.32% on Friday June 12*
Sym Last........ ........Change.......... 
Dow 8,799.26 +28.34 +0.32% 
Nasdaq 1,858.80 -3.57 -0.19% 
S&P 500 946.21 +1.32 +0.14% 
30-yr Bond 4.6330% -0.0590 

NYSE Volume 5,198,557,000 
Nasdaq Volume 2,065,456,125 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,441.95 -19.92 -0.45% 
DAX 5,069.24 -38.02 -0.74% 
CAC 40 3,326.14 -8.80 -0.26% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,135.82 +154.49 +1.55% 
Hang Seng 18,889.68 +98.65 +0.52% 
Straits Times 2,377.07 -4.74 -0.20% 

http://finance.yahoo.com/news/Stocks-end-mixed-as-commodity-apf-15516041.html?.v=1

*Stocks end mixed as commodity, tech stocks retreat

Stocks end mixed as lower oil weighs on commodities; technology stocks slide after rally *
Tim Paradis, AP Business Writer 
On Friday June 12, 2009, 5:34 pm EDT

NEW YORK (AP) -- The stock market's rally is on hold and it's not clear what might get it moving again.

Stock indicators barely budged this week after big gains in the prior week. The Dow Jones industrial average did manage to push into the black for the year with a modest gain on Friday but many traders are still cautious.

The Dow Jones industrial average rose 28.34, or 0.3 percent, to 8,799.26. It was the Dow's highest close since Jan. 6.

The broader S&P 500 index rose 1.32, or 0.1 percent, to 946.21, and the Nasdaq composite index fell 3.57, or 0.2 percent, to 1,858.80.

For the week, the Dow edged up 0.4 percent. It was the fourth straight weekly gain for the blue chips and the 12th of the last 14.

The S&P 500 index rose 0.7 percent for the week and the Nasdaq added 0.5 percent. The indexes are all positive for the year.

The continuing crop of better-than-expected economic news has lost its ability to incite the kinds of big gains the market was enjoying back in March, early in a three-month rally that has brought the Standard & Poor's index almost 40 percent.

Those kinds of gains might normally take years to occur, so it's understandable that traders would become tired of hitting the "buy" button. Also, the market's enthusiasm about the economy has been checked recently by unease about inflation and rising interest rates.

The bond market exercised unusual control over stocks this week as investors worried that the Treasury Department was running low on buyers for U.S. debt. While a successful bond auction Thursday eased some of those concerns, investors are still nervous that Washington might have to entice buyers with higher interest rates.

Besides determining the government's own borrowing costs, bond yields are also used as a benchmark for consumer loans and can influence how much people borrow to finance big purchases like homes. The 10-year Treasury note, which is closely tied to home mortgage rates, has risen to 3.79 from 3.71 percent in little more than a week.

Rising interest rates are worrisome because they could stomp out the economy's attempts to recover from the recession, which began in December 2007.

With little to point them in either direction, stocks zigzagged in a tight range late in the day Friday as commodity and technology stocks gave up some of their recent gains.

"We ran at sprinters' speed and now we're taking a couple jogs around the track to see if we can sprint again," said David Darst, chief investment strategist at Morgan Stanley Smith Barney.

Bond prices mostly rose Friday, pushing yields down. The yield on the 10-year Treasury note fell to 3.79 percent from 3.86 percent late Thursday.

The dollar rose against other major currencies, while gold prices fell.

 Rick Bensignor, chief market strategist at Execution LLC, said the market likely would need big news such as a further stabilization in banks to push higher. Otherwise, some gains could come as portfolio managers worried about falling behind the major indexes are forced to buy in. But he expects the market will give back some of its gains because it has risen so far so fast.

 "Bulls think this is nothing more than a resting stop," he said. "Right now clearly the tug of war remains in place."

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where volume came to a light 858 million shares, compared with 1.2 billion Thursday.

 The Russell 2000 index of smaller companies rose 0.76, or 0.1 percent, to 526.84.

187


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Bad economic news and doubts about the market's ability to rally dealt stocks a huge setback.

The Dow Jones industrials fell 187 points Monday, their biggest drop since April 20. All the major market indexes fell more than 2 percent.

Trading volume was light, suggesting an absence of buyers rather than a flood of sellers rushing to dump stocks, but the pullback nonetheless was another sign that the market's spring rally has stalled.

The slide began in Asia and Europe and spread to the U.S. as a strong dollar pushed commodities prices sharply lower. Stocks of energy and materials producers have been lifting the market in the past month so the drop in prices left stocks without an important leg of support.


*The NYSE DOW closed LOWER -187.13 points -2.13% on Monday June 15*
Sym Last........ ........Change.......... 
Dow 8,612.13 -187.13 -2.13% 
Nasdaq 1,816.38 -42.42 -2.28% 
S&P 500 923.72 -22.49 -2.38% 
30-yr Bond 4.5550% -0.0780 

NYSE Volume 5,605,944,500 (prior day 5,198,557,000)
Nasdaq Volume 2,204,651,000 (prior day 2,065,456,125)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,326.01 -115.94 -2.61%  
DAX 4,889.94 -179.30 -3.54%  
CAC 40 3,219.58 -106.56 -3.20% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,039.67 -96.15 -0.95% 
Hang Seng 18,498.96 -390.72 -2.07% 
Straits Times 2,316.56 -60.51 -2.55% 

http://finance.yahoo.com/news/Stock...82.html?sec=topStories&pos=main&asset=&ccode=

*Stocks tumble as stronger dollar hits commodities

Stocks slide as stronger dollar upends strength in commodities, materials; Dow falls 187 *
Tim Paradis, AP Business Writer
On Monday June 15, 2009, 6:12 pm EDT

NEW YORK (AP) -- Bad economic news and doubts about the market's ability to rally dealt stocks a huge setback.

The Dow Jones industrials fell 187 points Monday, their biggest drop since April 20. All the major market indexes fell more than 2 percent.

Trading volume was light, suggesting an absence of buyers rather than a flood of sellers rushing to dump stocks, but the pullback nonetheless was another sign that the market's spring rally has stalled.

The slide began in Asia and Europe and spread to the U.S. as a strong dollar pushed commodities prices sharply lower. Stocks of energy and materials producers have been lifting the market in the past month so the drop in prices left stocks without an important leg of support.

Meanwhile, new worries about the economy emerged after an index of manufacturing in New York indicated that demand weakened in June. The weaker report from the Federal Reserve Bank of New York ran counter to the gradual improvement traders have grown accustomed to with other economic readings.

Analysts said stocks are also losing ground because investors are questioning what it will take to move the market higher. Ahead of Monday's slide, the S&P 500 had jumped 39.9 percent since skidding to a 12-year low on March 9. Investors have been betting on an economic recovery but questions about how long that might take are poking holes in the rally.

The unease about the economy's recovery have kept stocks from rising as quickly in recent weeks as they did in March and April. The Dow and the S&P 500 index are up 12 of the past 14 weeks, and the last four straight weeks. But traders are having a harder time wringing advances from stocks as questions remain about whether unemployment, still-weak home prices and inflation will trip up a resurgence in the economy.

Harry Rady, chief executive of Rady Asset Management, said stocks have risen too fast given how troubled the economy remains. "The market just seems to keep driving the car into the wall and then wonders why it can't keep driving," Rady said.

The Dow fell 187.13, or 2.1 percent, to 8,612.13, and returned to a loss for the year. The broader Standard & Poor's 500 index fell 22.49, or 2.4 percent, to 923.72, and the Nasdaq composite index fell 42.42, or 2.3 percent, to 1,816.38. Both indexes still are showing a gain for 2009.

Overseas trading was influenced by the dollar, which rose against most other major currencies following weekend comments from Russia's finance minister, Alexei Kudrin, that the greenback likely would remain the world's reserve currency.

Investors have been worried in recent weeks that foreign governments would seek to spread their reserve cash holdings beyond the dollar. That would cut into demand for the currency.

Commodities including oil tend to be a hedge against a weak dollar. So, when the greenback is stronger, investors feel less need to protect themselves against it and they start selling commodities. That in turn tends to pull down the stocks of basic materials producers who profit from higher prices.

Overseas, Japan's Nikkei average lost 1 percent, while Britain's FTSE 100 fell 2.6 percent, Germany's DAX fell 3.5 percent and France's CAC-40 lost 3.2 percent.

Bond prices mostly rose, driving yields down. The yield on the benchmark 10-year Treasury note, a benchmark widely used for setting home mortgage rates, fell to 3.72 percent from 3.80 percent late Friday.

The dollar's rise helped send oil prices lower. Light, sweet crude fell $1.42 to settle at $70.62 per barrel on the New York Mercantile Exchange.

Investors often welcome falling commodities prices because the lower costs will have benefits across the economy. But traders have also been looking for gains in commodities because that could signal resources are becoming more scarce as demand improves.

Commodities producers fell Monday. Aluminum maker Alcoa Inc. and Freeport-McMoRan Copper & Gold Inc. slid. Alcoa fell 78 cents, or 6.5 percent, to $11.21, while Freeport-McMoRan fell $3.37, or 5.8 percent, to $55.14.

In corporate news, Goldman Sachs lowered its rating on Wal-Mart Stores Inc. to "Neutral" from "Buy," seeing few catalysts that could push the stock higher. The retailer fell $1.38, or 2.8 percent, to $48.46.

Nick Kalivas, vice president of financial research at MF Global, said traders are cautious ahead of quarterly earnings reports this week from Best Buy Co., FedEx Corp. and BlackBerry maker Research in Motion Ltd., all of which are important in their industries.

"It might keep us sideways or lower if we can't get some good news from some of these numbers," he said.

Trading volume remained light Monday, as it has been for weeks. That indicates fewer traders are standing behind the market's moves. Volume does tend to slow in the summer as traders take vacations, but thin volume could indicate there is less conviction behind the market's moves.

About eight stocks fell for every one that rose on the New York Stock Exchange, where volume came to a light 4.55 billion shares, up from Friday's 4.39 billion.

In other trading, the Russell 2000 index of smaller companies fell 15.00, or 2.9 percent, to 511.83.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

More signs of a weak economy gave investors a reason to sell stocks for a second day.

Stocks extended their pullback Tuesday after news of a seventh straight monthly drop in industrial production overshadowed better-than-expected reports on home construction, building permits and inflation.

All the major stock indexes fell more than 1 percent, and the Dow Jones industrial average lost 107 points, bringing its two-day drop to nearly 300 points, or 3.3 percent. Investors are nervous that a three-month surge in stocks, based on optimism about a recovering economy, might have been premature.



*The NYSE DOW closed LOWER -107.46 points -1.25% on Tuesday June 16*
Sym Last........ ........Change.......... 
Dow 8,504.67 -107.46 -1.25% 
Nasdaq 1,796.18 -20.20 -1.11% 
S&P 500 911.97 -11.75 -1.27% 
30-yr Bond 4.5030% -0.0520 

NYSE Volume 5,920,616,000  (prior day 5,605,944,500)
Nasdaq Volume 2,278,797,250  (prior day 2,204,651,000)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,328.57 +2.56 +0.06% 
DAX 4,890.72 +0.78 +0.02% 
CAC 40 3,213.95 -5.63 -0.17% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,752.88 -286.79 -2.86% 
Hang Seng 18,165.50 -333.46 -1.80% 
Straits Times 2,288.16 -28.40 -1.23% 

http://finance.yahoo.com/news/Mixed...76.html?sec=topStories&pos=main&asset=&ccode=

*Mixed data on production, housing weighs on stocks

Poor showing on industrial production saps market of latest effort to resume rally *
Sara Lepro and Tim Paradis, AP Business Writers
On Tuesday June 16, 2009, 5:20 pm EDT

NEW YORK (AP) -- More signs of a weak economy gave investors a reason to sell stocks for a second day.

Stocks extended their pullback Tuesday after news of a seventh straight monthly drop in industrial production overshadowed better-than-expected reports on home construction, building permits and inflation.

All the major stock indexes fell more than 1 percent, and the Dow Jones industrial average lost 107 points, bringing its two-day drop to nearly 300 points, or 3.3 percent. Investors are nervous that a three-month surge in stocks, based on optimism about a recovering economy, might have been premature.

But analysts weren't surprised that investors were having second thoughts.

"It's unreasonable to think that the market is going to go straight up and never turn back," said Eric Ross, director of research at Canaccord Adams.

Analysts say investors need more clear evidence of growth to restart the market's rally, which has stalled as investors grow worried that a weaker dollar, higher commodities prices and rising interest rates will hamper the economy's recovery. The Standard & Poor's 500 index is still up 34.8 percent from the 12-year lows it hit in March.

"You've got to continue to have a constant flow of good news to push things higher," said Randy Frederick, director of trading at Charles Schwab. "And we just don't have that."

The Dow Jones industrial average fell 107.46, or 1.3 percent, to 8,504.67. The Standard & Poor's 500 index fell 11.75, or 1.3 percent, to 911.97, while the Nasdaq composite index fell 20.20, or 1.1 percent, to 1,796.18.

On Monday, the Dow tumbled 187 points, or 2.1 percent, putting it back into the red for 2009. Last week, the Dow was up on the year for the first time since January. A stronger dollar sent commodities prices tumbling Monday and that put pressure on energy and material stocks.

The dollar resumed its three-month fall against other major currencies Tuesday, pushing prices for commodities higher.

Analysts contend a pause in the rally is necessary for stocks to move higher. Market watchers tend to be alarmed when the market moves up in an unbroken line and say that suggests indiscriminate buying.

"The market is very overbought right now and what it needs to do is consolidate and it needs to have a series of days like this," said Jon Merriman, chief executive of Merriman Curhan Ford.

The dollar's slide came after the Kremlin's top economic adviser said Russia may put part of its currency reserves in bonds issued by Brazil, China and India.

A weaker dollar, and its impact on commodities prices and Treasury yields, has become one of investors' main concerns.

While higher commodities prices can indicate improving demand for industrial goods, analysts warn that a jump in prices combined with a weaker dollar could make it more difficult for the economy to emerge from recession.

Light, sweet crude pared fell 15 cents to settle at $70.47 a barrel on the New York Mercantile Exchange. Precious metals, soybeans and coffee were among the other commodities closing higher.

The Commerce Department said home construction jumped in May by the largest amount in three months after hitting a record low in April. Applications for building permits, which are seen as a good indicator of future activity, rose by 4 percent.

The Labor Department said wholesale prices rose less than expected in May as a big jump in the price of gasoline offset a drop in food costs. But the Federal Reserve said industrial production fell a larger-than-expected 1.1 percent in May as the recession hurt demand for manufactured goods including cars, machinery and household appliances.

Treasury yields retreated further, a welcome sign for homeowners. Yields on long-term Treasurys have been climbing as demand for bonds weakens amid a huge surplus of government debt. This is worrisome to investors because Treasury yields are linked to mortgages and other consumer loans, and higher borrowing costs could undermine a recovery in the housing market.

The yield on the benchmark 10-year Treasury note fell to 3.68 percent from 3.72 percent late Monday.

About two stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.2 billion shares, up from 810.9 million a day earlier.

The Russell 2000 index of smaller companies fell 8.09, or 1.6 percent, to 503.74.

Overseas, Japan's Nikkei stock average slid 2.9 percent. Britain's FTSE 100 and Germany's DAX index each rose less than 0.1 percent and France's CAC-40 slipped 0.2 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

A cautious forecast from FedEx Corp. and a ratings downgrade of 18 banks gave investors new reasons to worry about the economy.

Stocks mostly fell Wednesday, though health and technology stocks posted gains after a widespread slide in stocks earlier in the week.

FedEx issued a weak profit forecast and downbeat comments about the economy. Analysts look to shipping companies' business as a gauge of the economy's strength.

*The NYSE DOW closed LOWER -7.49 points -0.09% on Wednesday June 17*
Sym Last........ ........Change.......... 
Dow 8,497.18 -7.49 -0.09% 
Nasdaq 1,808.06 +11.88 +0.66% 
S&P 500 910.71 -1.26 -0.14% 
30-yr Bond 4.4650% -0.0380 

NYSE Volume 6,905,885,500  (prior day 5,920,616,000)
Nasdaq Volume 2,559,302,250  (prior day 2,278,797,250)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,278.46 -50.11 -1.16% 
DAX 4,799.98 -90.74 -1.86% 
CAC 40 3,161.14 -52.81 -1.64% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,840.85 +87.97 +0.90% 
Hang Seng 18,084.60 -80.90 -0.45% 
Straits Times 2,271.45 -16.71 

http://finance.yahoo.com/news/Stock...53126.html?sec=topStories&pos=1&asset=&ccode=

Stocks mostly fall on bank ratings, FedEx warning
Stocks slip after FedEx forecast, bank downgrades; Inflation rises less than expected 
Tim Paradis, AP Business Writer
On Wednesday June 17, 2009, 4:34 pm EDT

NEW YORK (AP) -- A cautious forecast from FedEx Corp. and a ratings downgrade of 18 banks gave investors new reasons to worry about the economy.

Stocks mostly fell Wednesday, though health and technology stocks posted gains after a widespread slide in stocks earlier in the week.

FedEx issued a weak profit forecast and downbeat comments about the economy. Analysts look to shipping companies' business as a gauge of the economy's strength.

Financial stocks saw some of the biggest losses after Standard & Poor's cut its ratings and revised outlooks on big banks. S&P cited concerns that the financial industry will remain volatile and that banks are expected to face tighter regulatory oversight.

In a bright spot, consumer prices rose less than forecast in May. Investors have been worrying that rising prices would threaten a recovery in the economy by curbing demand.

Trading is likely to remain choppy ahead of Friday's quarterly "quadruple witching" day, which marks the simultaneous expiration of a number of different options contracts. Dan Deming, a trader with Strutland Equities in Chicago, said stocks are more likely to gain ground during such times.

The drop in stocks this week comes after stocks notched only modest gains last week. The selling has inserted a break into a three-month rally that had carried the S&P 500 index up 40 percent from 12-year lows. Many traders say expectations for an economic recovery had been too rosy.

Richard Hughes, co-president of Portfolio Management Consultants, said the market had gotten ahead of itself during the spring rally and that the economy remains weak. "People are taking a pause and it makes sense," he said.

According to preliminary calculations, the Dow Jones industrial average fell 7.49, or 0.1 percent, to 8,497.18 after moving in and out of positive territory during the day. The broader S&P 500 index fell 1.26, or 0.1 percent, to 910.71, and the Nasdaq composite index rose 11.88, or 0.7 percent, to 1,808.06.

In corporate news, FedEx said its fiscal fourth-quarter loss widened because of hefty one-time charges and lower revenue, and the company warned it expects extremely difficult conditions in the next two quarters. Investors often look to the results of shipping companies like FedEx as a leading indicator of economic activity, and the poor outlook helped send shares lower in the early going. FedEx fell 72 cents to $50.70.

BB&T Corp. and Wells Fargo & Co. were among the biggest banks hit with lower ratings. BB&T fell 65 cents, or 2.9 percent, to $21.58, while Wells Fargo slid $1.31, or 5.4 percent, to $23.09.

The KBW Bank index, which tracks 24 of the nation's largest banks, fell 3.3 percent.

The Labor Department said the consumer price index rose a seasonally adjusted 0.1 percent last month, less than a 0.3 percent rise that had been forecast. Excluding volatile food and energy costs, core prices rose 0.1 percent, as expected.

The market's zigzags came as investors looked at the White House's plan for remaking the rules that govern Wall Street. The changes would award new powers to the Federal Reserve to supervise large financial institutions considered too big to fail. It also would establish a consumer protection agency to govern lending and credit as well as rules that would reach into unregulated regions of the financial markets.

In other trading, bond prices mostly rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.60 percent from 3.65 percent late Tuesday.

Oil rose 56 cents to settle at $71.03 a barrel after a key government report said crude held in U.S. storage houses fell for the third straight week.

The dollar was mixed against other major currencies, while gold prices rose.

Stocks that fell outnumbered those that rose by 3 to 2 on the New York Stock Exchange, where volume came to 1.3 billion shares compared with 1.2 billion Tuesday.

The Russell 2000 index of smaller companies rose 3.29, or 0.7 percent, to 507.03.

Major markets overseas mostly fell sharply. Britain's FTSE 100 fell 1.2 percent, Germany's DAX index lost 1.9 percent, and France's CAC-40 fell 1.6 percent. Japan's Nikkei stock average rose 0.9 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

All the major indexes closed the week down for the first time since the week of May 11. The Dow lost 3 percent, the S&P 500 index fell 2.6 percent, and the Nasdaq shed 1.7 percent.

Stocks finished mixed Friday, leaving all the major indexes with their first weekly loss since early May. Tech, financial and retail stocks gained, while utilities and energy stocks were lower.

The market began the day stronger, following surprisingly good reports the day before on jobs and manufacturing. But the early gains gave way to selling in the afternoon, saddling the Dow Jones industrials with four days of losses over the past five.

With little in the way of corporate or economic news Friday, prospects were poor for restarting a rally that powered the market up as much as 40 percent this spring after hitting its lowest level in more than a decade in early March. Traders have grown worried in recent weeks that an economic recovery may be more subdued than originally hoped and that the huge run-up in stocks may have been overdone.

*The NYSE DOW closed LOWER -15.87 points -0.19% on Friday June 19*
Sym Last........ ........Change.......... 
Dow 8,539.73 -15.87 -0.19% 
Nasdaq 1,827.47 +19.75 +1.09% 
S&P 500 921.23 +2.86 +0.31% 
30-yr Bond 4.5220% -0.1020 

NYSE Volume 6,496,591,500 
Nasdaq Volume 3,007,479,750 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,345.93 +65.07 +1.52% 
DAX 4,839.46 +1.98 +0.04% 
CAC 40 3,221.27 +27.21 +0.85% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,786.26 +82.54 +0.85% 
Hang Seng 17,920.93 +144.27 +0.81% 
Straits Times 2,273.18 +35.98 +1.61% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks log first weekly loss since early May

Stocks finish choppy day of trading mixed; major indexes post 1st weekly loss since early May *

By Tim Paradis and Sara Lepro, AP Business Writers 
On Friday June 19, 2009, 6:47 pm EDT

NEW YORK (AP) -- Caution has once again overcome the stock market.

Stocks finished mixed Friday, leaving all the major indexes with their first weekly loss since early May. Tech, financial and retail stocks gained, while utilities and energy stocks were lower.

The market began the day stronger, following surprisingly good reports the day before on jobs and manufacturing. But the early gains gave way to selling in the afternoon, saddling the Dow Jones industrials with four days of losses over the past five.

With little in the way of corporate or economic news Friday, prospects were poor for restarting a rally that powered the market up as much as 40 percent this spring after hitting its lowest level in more than a decade in early March. Traders have grown worried in recent weeks that an economic recovery may be more subdued than originally hoped and that the huge run-up in stocks may have been overdone.

"There's no question in my mind that the economy is improving," said Phil Orlando, chief equity market strategist at Federated Investors. "But investors are betting on some sideways consolidation rather than a continuation of a sharp spike in share prices."

Trading was also jumpy because of the occurrence of a quarterly "quadruple witching," which marks the simultaneous expiration of four different kinds options and futures contracts.

The Dow Jones industrial average fell 15.87, or 0.2 percent, to 8,539.73, with 16 of the 30 stocks that make up the average posting losses. The broader Standard & Poor's 500 index rose 2.86, or 0.3 percent, to 921.23 and the Nasdaq composite index gained 19.75, or 1.1 percent, to 1,827.47.

About three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to a heavy 5.47 billion shares, compared with 4.58 billion shares the day before.

All the major indexes closed the week down for the first time since the week of May 11. The Dow lost 3 percent, the S&P 500 index fell 2.6 percent, and the Nasdaq shed 1.7 percent.

Stocks tumbled early in the week as a handful of weak economic reports, including news of a seventh straight monthly drop in industrial production, bucked sharply with the gradual improvement traders had grown used to with other economic readings.

Stocks rebounded modestly on Thursday, spurred by a series of better data on economic activity, including a report that showed the overall number of people drawing unemployment benefits fell last week for the first time since early January.

Traders have been anticipating a pullback after such big gains in such a short period. Usually, a 40 percent move like the one in the S&P 500 index takes years to develop, not months.

"It's not going to be a one-way ride," said Keith Walter, portfolio manager of Artio Global Equity Fund.

Analysts are divided over whether the market's pullback this week has more to go, or if it can now move higher after back-to-back weeks of relatively sideways movement; Last week all the major indexes rose less than 1 percent. Many predict choppy trading well through the summer, when there is typically less volume, and as the market heads into earnings season in July.

Next week will bring reports on existing home sales and durable goods orders, among others. Investors will also be looking to the Federal Reserve for any clues on its monetary policy going forward as the central bank conducts a two-day policy meeting.

Bond prices rose slightly after sliding Thursday ahead of a spate of auctions next week. The yield on the benchmark 10-year Treasury note fell to 3.78 percent from 3.81 percent late Thursday.

Investors have been keeping a close eye on the bonds market recently, concerned that a run-up in Treasury yields will lead to higher borrowing costs and potentially erode some of the economy's progress. Long-term Treasury yields are closely linked to interest rates on mortgages, which have been rising in recent weeks.

Tech stocks moved higher as Apple Inc.'s latest version of its popular iPhone hit store shelves. Apple shares added $3.60, or 2.7 percent, to $139.48, while rival smart phone maker Palm Inc. jumped more than 6 percent, rising 87 cents to $13.93.

Oil prices reversed early gains and fell $1.82 to settle at $69.55 a barrel in light trading as the contract was set to close Monday.

The dollar fell against the euro and the British pound. Gold prices rose.

Overseas, Japan's Nikkei stock average rose 0.9 percent. Britain's FTSE 100 rose 1.5 percent, Germany's DAX index rose 0.04 percent, and France's CAC-40 rose 0.9 percent.

BlackBerry maker Research in Motion Ltd. reported a better-than-expected 33 percent increase in first-quarter earnings, but shipments were below expectations. The stock dropped $3.77, or 4.9 percent, to $72.78.

In other trading, the Russell 2000 index of smaller companies rose 3.24, or 0.6 percent, to 512.72.

The Dow Jones industrial average closed the week down 259.53, or 3.0 percent, at 8,539.73. The Standard & Poor's 500 index fell 24.98, or 2.6 percent, to 921.23. The Nasdaq composite index fell 31.33, or 1.7 percent, to 1,827.47.

The Russell 2000 index, which tracks the performance of small company stocks, fell 14.11, or 2.7 percent, for the week to 512.72.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 9,428.97, down 272.46, or 2.8 percent, for the week. A year ago, the index was at 13,514.89.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

A surprisingly bleak forecast for the world economy pushed stocks to their biggest loss in two months.

Major stock indexes tumbled by more than 2 percent Monday, sending the Dow Jones industrial average down 201 points, after the World Bank estimated the global economy will shrink 2.9 percent in 2009. It previously predicted a 1.7 percent contraction.

The grim assessment was the latest unwelcome surprise for the market since last month and further eroded hopes that the economy was starting to emerge from recession. Investors began driving stocks sharply higher in early March, encouraged by modest improvements in housing, manufacturing and even unemployment.


*The NYSE DOW closed LOWER -200.72 points -2.35%  on Monday June 22*
Sym Last........ ........Change.......... 
Dow 8,339.01 -200.72 -2.35% 
Nasdaq 1,766.19 -61.28 -3.35% 
S&P 500 893.04 -28.19 -3.06% 
30-yr Bond 4.4290% -0.0930 

NYSE Volume 6,395,502,000 (prior day 6,496,591,500)
Nasdaq Volume 2,358,329,250 (prior day 3,007,479,750)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,234.05 -111.88 -2.57% 
DAX 4,693.40 -146.06 -3.02% 
CAC 40 3,123.25 -98.02  

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,826.27 +40.01 +0.41% 
Hang Seng 18,059.55 +138.62 +0.77% 
Straits Times 2,266.92 -6.26 -0.28% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks tumble on bleak outlook for world economy

Stocks slide as World Bank slashes 2009 forecast for global economy; Dow industrials drop 201 *
By Madlen Read, AP Business Writer 
On Monday June 22, 2009, 6:16 pm EDT

NEW YORK (AP) -- A surprisingly bleak forecast for the world economy pushed stocks to their biggest loss in two months.

Major stock indexes tumbled by more than 2 percent Monday, sending the Dow Jones industrial average down 201 points, after the World Bank estimated the global economy will shrink 2.9 percent in 2009. It previously predicted a 1.7 percent contraction.

The grim assessment was the latest unwelcome surprise for the market since last month and further eroded hopes that the economy was starting to emerge from recession. Investors began driving stocks sharply higher in early March, encouraged by modest improvements in housing, manufacturing and even unemployment.

The dampened economic outlook from the World Bank, a global lender based in Washington, also weighed on the prices of oil, metals, and other commodities. Those price drops in turn sent energy and metal producers' shares falling.

Hugh Johnson, chief investment officer of Johnson Illington Advisors, said the downbeat economic prediction confirmed fears that have been building in the market for two weeks.

"The forecast by the World Bank just dramatized that the market may have overstated what's coming for the economy," he said.

The stock market is coming off its first weekly loss in more than a month after mixed economic readings last week.

Investors have gone from enjoying a string of better-than-expected economic data to trying to manage a list of worries about the economy. Stocks have lost ground several times in the last month on fears that rising interest rates and inflation would upend an economic recovery.

Many analysts also say the relief that erupted in early March about the economy then led to outsize expectations for how quickly a recovery could occur. Other economic news has hit stocks since May. A disappointing government report last month on retail sales suggested the economy remained fragile, and the Federal Reserve reined in its expectations for how the economy will fare this year.

There were no major economic reports Monday, but traders will get data this week on new and existing home sales, durable goods orders, gross domestic product and personal incomes and spending.

The Federal Reserve also will be in the spotlight after its two-day meeting on monetary policy ends Wednesday. The central bank is widely expected to hold its key funds rate steady near zero, but investors want to know whether policymakers will say the economy is recovering or still in need of aid.

The Dow fell 200.72, or 2.4 percent, to 8,339.01, its lowest finish since May 27. It was the biggest drop for the blue chips since losing 290 points, or 3.6 percent, on April 20 as investors worried about the soundness of bank balance sheets.

The Dow has fallen for five of the last six days and remains down for June.

The Standard & Poor's 500 index fell 28.19, or 3.1 percent, to 893.04, also leaving the index with its biggest slide since April 20 and erasing its advance for the year. The Nasdaq composite index fell 61.28, or 3.4 percent, to 1,766.19.

After Monday's drop and a 3 percent slide last week, the Dow is down 5 percent for the year. The Nasdaq, however, remains up by 12 percent in 2009.

The market is selling off on the uncertainty of what lies ahead, said David Kotok, chairman and chief investment officer of Cumberland Advisors.

"The picture's not clear. You've got a market that's acting just that way," Kotok said.

Bond prices jumped Monday, pushing yields down, as the drop in stocks drove demand for the safety of government debt. The yield on the benchmark 10-year Treasury note sank to 3.69 percent from 3.78 percent late Friday.

The Fed has been buying Treasurys and other kinds of debt with the hope of keeping borrowing rates low at the same time the government has been issuing record amounts of debt. The Treasury Department is planning to auction another $104 billion in debt this week.

A gauge of stock market volatility known as Wall Street's "fear index" spiked. The VIX rose more than 11 percent Monday, its biggest one-day gain since April.

Benchmark crude for August delivery fell $2.52 to settle at $67.50 a barrel on the New York Mercantile Exchange. Gold prices also slid.

Shares of companies that produce commodities dropped. Oil company Chevron Corp. fell $2.30, or 3.4 percent, to $65.76, while aluminum producer Alcoa Inc. fell 98 cents, or 8.9 percent, to $10.02.

Few areas were spared the selling Monday, but investors moved toward industries like consumer staples and utilities that are expected to offer shelter in a tough economy. Procter & Gamble, the maker of Tide detergent and Crest toothpaste, slipped 8 cents to $50.56. Duke Energy Corp. rose 24 cents, or 1.7 percent, to $14.65.

The dollar was mostly higher against other major currencies.

The Russell 2000 index of smaller companies fell 19.91, or 3.9 percent, to 492.81.

About eight stocks fell for every stock that rose on the New York Stock Exchange, where consolidated volume came to 5.1 billion shares, down from 5.5 billion Friday. Trading was heavy Friday because of expiration of options and futures contracts.

Overseas, Japan's Nikkei stock average rose 0.4 percent. Britain's FTSE 100 fell 2.6 percent, Germany's DAX index fell 3 percent, and France's CAC-40 fell 3 percent.
729


----------



## sunshineboy

Not sure what why it is going down.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors are holding off making big moves while they wait for the Federal Reserve.

Stocks ended little changed Tuesday, a day after the major indexes had their worst day in two months. Traders are looking for the central bank at its two-day meeting ending Wednesday to outline its expectations for the economy and signal when it might raise interest rates.

Investors reacted coolly to a report from the National Association of Realtors that May sales of existing homes rose 2.4 percent. The increase was smaller than economists' forecast for 2.8 percent, and not enough to alleviate anxiety about reports later in the week on durable goods orders, new home sales and personal spending.


*The NYSE DOW closed LOWER -16.10 points -0.19% on Tuesday June 23*
Sym Last........ ........Change.......... 
Dow 8,322.91 -16.10 -0.19% 
Nasdaq 1,764.92 -1.27 -0.07% 
S&P 500 895.10 +2.06 +0.23% 
30-yr Bond 4.3730% -0.0560 

NYSE Volume 6,138,496,500 (prior day 6,395,502,000)
Nasdaq Volume 2,187,094,000 (prior day 2,358,329,250)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,230.02 -4.03 -0.10% 
DAX 4,707.15 +13.75 +0.29% 
CAC 40 3,116.82 -6.43  

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,549.61 -276.66 -2.82% 
Hang Seng 17,538.37 -521.18 -2.89% 
Straits Times 2,231.33 -35.59 -1.57% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks close mixed as investors wait on the Fed

Stocks end mixed as traders await word from the Fed; Existing home sales fail to excite *

By Madlen Read and Tim Paradis, AP Business Writers 
On Tuesday June 23, 2009, 6:00 pm EDT

NEW YORK (AP) -- Investors are holding off making big moves while they wait for the Federal Reserve.

Stocks ended little changed Tuesday, a day after the major indexes had their worst day in two months. Traders are looking for the central bank at its two-day meeting ending Wednesday to outline its expectations for the economy and signal when it might raise interest rates.

Investors reacted coolly to a report from the National Association of Realtors that May sales of existing homes rose 2.4 percent. The increase was smaller than economists' forecast for 2.8 percent, and not enough to alleviate anxiety about reports later in the week on durable goods orders, new home sales and personal spending.

"There's not a lot of conviction on behalf of buyers," said Jim Herrick, manager of equity trading at Baird & Co.

The Fed is widely expected to keep its key interest rate near zero, but investors are unsure how optimistic the policymakers will be in the economic assessment that accompanies their rate decision, and whether the central bank will consider raising rates later this year to curb inflation.

Analysts say the Fed might dismantle some of the emergency supports it has put in place for the economy, a move that could make investors nervous. At its meeting in March, the Fed introduced $1.2 trillion in spending that included the purchase of $300 billion in government debt to help drive down interest rates. Rates fell, but have since come off their lows, leaving traders divided about whether policymakers will change their strategy.

Meanwhile, the market was following the week's $104 billion in Treasury auctions. The government sold $40 billion in debt Tuesday amid strong demand. Investors have been on edge during such auctions because any signs that a desire for government debt is waning could hit the market.

Treasury demand needs to stay strong for the government to finance its bailout and stimulus programs without significantly raising yields. Bond yields also affect borrowing rates for consumers.

The stock market is showing no signs of restarting the rally that lifted the Standard & Poor's 500 index 32.3 percent since early March. Investors who three months ago were buying stocks on improved data like Tuesday's home sales report are now more dubious about when an economic recovery will actually take hold. The Dow Jones industrials shed 201 points on Monday.

The Dow fell 16.10, or 0.2 percent, Tuesday to 8,322.91. The Standard & Poor's 500 index rose 2.06, or 0.2 percent, to 895.10, and the Nasdaq composite index fell 1.27, or 0.1 percent, to 1,764.92.

The Dow has fallen for six out of the past seven days and closed at its lowest level since May 27.

The biggest loser among the 30 Dow stocks was Boeing Co., which fell $3.03, or 6.5 percent, to $43.87 after again delaying the first test flight of its long-awaited 787 jetliner. The company said it needed to reinforce part of the aircraft.

While stocks have been pulling back for weeks, their retreat has been accompanied by very little volatility, and that's a positive sign, said Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York.

"The fact is, you can't keep going straight up," Fullman said. "There's a chance we'll still see some downward movement in the next week or two -- the market really needs a correction."

Government bond prices were mixed Tuesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.63 percent from 3.69 percent late Monday.

Falling stocks narrowly outnumbered those that rose on New York Stock Exchange, where consolidated volume came to 4.9 billion shares, down from 5.1 billion shares Monday.

The Russell 2000 index of smaller companies fell 3.04, or 0.6 percent, to 489.77.

After tumbling on Monday, the price of crude oil rose $1.74 to settle at $69.24 a barrel on the New York Mercantile Exchange.

The dollar was mixed against other major currencies. Gold prices rose.

Overseas, Britain's FTSE 100 fell 0.1 percent, Germany's DAX index rose 0.3 percent, and France's CAC-40 fell 0.2 percent. Japan's Nikkei stock average sank 2.8 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow fell for the fourth day and other indexes ended well off the day's highs on Wednesday after the Federal Reserve reiterated concerns about the economic outlook at the end of its policy meeting.

Technology shares sustained some strength, bolstered by stronger-than-expected quarterly results from software maker Oracle Corp.

The Fed, as expected, left the benchmark fed funds rate at almost zero, and said it would continue its program of purchasing U.S. government bonds and mortgage-related debt.

Stocks pulled back after the Fed did not suggest in its statement that it sees any notable recovery any time soon.

*The NYSE DOW closed LOWER -23.05 points -0.28% on Wednesday June 24*
Sym Last........ ........Change.......... 
Dow 8,299.86 -23.05 -0.28% 
Nasdaq 1,792.34 +27.42 +1.55% 
S&P 500 900.94 +5.84 +0.65% 
30-yr Bond 4.4250% +0.0520 

NYSE Volume 5,702,674,000 (prior day 6,138,496,500)
Nasdaq Volume 2,172,564,500 (prior day 2,187,094,000)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,279.98 +49.96 +1.18% 
DAX 4,836.01 +128.86 +2.74% 
CAC 40 3,184.76 +67.94 +2.18% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,590.32 +40.71 +0.43% 
Hang Seng 17,892.15 +353.78 +2.02% 
Straits Times 2,278.96 +52.86 +2.37% 

http://finance.yahoo.com/news/Dow-ends-down-SP-Nasdaq-up-rb-1615540785.html?x=0

*Dow ends down, S&P, Nasdaq up after Fed, Oracle*
On Wednesday June 24, 2009, 4:36 pm EDT
By Caroline Valetkevitch

NEW YORK (Reuters) - The Dow fell for the fourth day and other indexes ended well off the day's highs on Wednesday after the Federal Reserve reiterated concerns about the economic outlook at the end of its policy meeting.

Technology shares sustained some strength, bolstered by stronger-than-expected quarterly results from software maker Oracle Corp.

The Fed, as expected, left the benchmark fed funds rate at almost zero, and said it would continue its program of purchasing U.S. government bonds and mortgage-related debt.

Stocks pulled back after the Fed did not suggest in its statement that it sees any notable recovery any time soon.

"The Fed is a little more downbeat than the market has been ... that they're emphasizing the weakness is a touch disappointing to me and to the markets," said Jim Awad, managing director at Zephyr Management in New York.

Before the release of the Fed's statement, all three major stock indexes were solidly higher, with the Nasdaq up more than 2 percent. Investors were encouraged by a stronger-than-expected report on monthly durable goods orders, which pointed to increased economic demand.

The Fed's words on the economic outlook were mixed. The central bank said the economy was likely to remain weak for a time, but the contraction's pace was slowing.

The Dow Jones industrial average  was down 23.05 points, or 0.28 percent, at 8,299.86. But the Standard & Poor's 500 Index was up 5.84 points, or 0.65 percent, at 900.94. The Nasdaq Composite Index was up 27.42 points, or 1.55 percent, at 1,792.34.

Oracle's results boosted other technology shares and helped drive the PHLX semiconductor index up 1.7 percent. Oracle shot up 7 percent to $21.26 and ranked among the Nasdaq's top advancers.

"You had the good durable number, the good Oracle number that kind of got things going," said Stephen Massocca, managing director of Wedbush Morgan in San Francisco.

Data before the opening bell showed new orders for durable goods, which are long-lasting U.S. manufactured products such as refrigerators and washing machines, increased by a much stronger-than-expected 1.8 percent in May, and the median price of new homes hit its highest level since December, even though sales slipped, economic data showed.

The broad S&P 500 index is up 33.2 percent from a 12-1/2-year closing low on March 9, but it had soared as much as 40 percent during the spring rally.

Trading volume was below average on the New York Stock Exchange, with only about 1.10 billion shares changing hands, under last year's estimated daily average of 1.49 billion, while on the Nasdaq, about 2.16 billion shares traded, below last year's daily average of 2.28 billion.

Despite the Dow's lower finish for the day, advancing stocks outnumbered declining ones on the NYSE by a ratio of nearly 3 to 1. On the Nasdaq, about three stocks rose for every two that fell.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors rushed back into stocks as profits at a handful of companies indicated the economy might be gaining strength.

Homebuilders and retailers led a broad rally Thursday. The Dow Jones industrial average surged 173 points after four days of losses. The price of government debt jumped after an auction drew strong demand.

The day began with better-than-expected earnings reports. Lennar Corp.'s orders for new homes jumped 63 percent during the second quarter and its revenue beat expectations.

*The NYSE DOW closed HIGHER +172.54 points +2.08% on Thursday June 25*
Sym Last........ ........Change.......... 
Dow 8,472.40 +172.54 +2.08% 
Nasdaq 1,829.54 +37.20 +2.08% 
S&P 500 920.26 +19.32 +2.14% 
30-yr Bond 4.3290% -0.0960 

NYSE Volume 6,063,876,000 (prior day 5,702,674,000)
Nasdaq Volume 2,277,026,000 (prior day  2,172,564,500)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,252.57 -27.41 -0.64% 
DAX 4,800.56 -35.45 -0.73% 
CAC 40 3,163.10 -21.66 -0.68% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225	9796.08	+205.76	+2.15%
Hang Seng	18275.03	+382.88	+2.14%
Straits Times	2302.46	+23.5	+1.03%


http://finance.yahoo.com/news/Stock...4.html?x=1&sec=topStories&pos=4&asset=&ccode=

*Stocks jump, led by homebuilders, retailers

Stocks jump on upbeat earnings from homebuilders, retailers; Fed starts to remove supports *
By Madlen Read and Tim Paradis, AP Business Writers 
On Thursday June 25, 2009, 5:44 pm EDT

NEW YORK (AP) -- Investors rushed back into stocks as profits at a handful of companies indicated the economy might be gaining strength.

Homebuilders and retailers led a broad rally Thursday. The Dow Jones industrial average surged 173 points after four days of losses. The price of government debt jumped after an auction drew strong demand.

The day began with better-than-expected earnings reports. Lennar Corp.'s orders for new homes jumped 63 percent during the second quarter and its revenue beat expectations.

And retailers jumped following a report from Bed Bath & Beyond Inc. The home furnishings store said its fiscal first-quarter earnings climbed 14 percent as sales rose following the liquidation of rival Linens N Things.

Stocks extended their gains after Federal Reserve Chairman Ben Bernanke fended off accusations before a House committee that he pressed Bank of America Corp. to acquire Merrill Lynch in a deal that cost taxpayers $20 billion. Analysts said his handling of the questions made it less likely he would resign before his term expires early next year.

The third successful Treasury auction of the week helped boost confidence that Washington will be able to raise enough money to fund its economic recovery programs. Investors also applauded the Fed's announcement that it would let expire some of the emergency lending programs it set up last fall as the financial crisis intensified.

The upbeat news helped traders look past unexpected increases in claims for unemployment benefits. Traders had been expecting a drop. Investors have been dissecting economic and corporate data for signs of whether the economy is starting to recover or whether a stock market rally that began in March was premature.

Joe Saluzzi, co-head of equity trading at Themis Trading LLC, said the rally is likely tied in part to portfolio managers buying up stocks to pump up their returns ahead of the end of the quarter on Tuesday.

"I think the window dressing is a big deal," he said. "There's just a force underneath the market that wants to keep it higher."

The Dow rose 172.54, or 2.1 percent, to 8,472.40, after falling 40 points in the early going. It was the biggest point and percentage gain for the blue chips since June 1, though the Dow is still down 67 points for the week. The broader Standard & Poor's 500 index rose 19.32, or 2.1 percent, to 920.26. The gain pushed the index back into the black for the year.

The Nasdaq composite index rose 37.20, or 2.1 percent, to 1,829.54.

The Dow remains up 29.4 percent from a 12-year low on March 9, but down nearly 330 points, or 3.7 percent, from a five-month high on June 12.

Some analysts say investors will need to see evidence of growth to keep the rally going.

"People are hesitant to take a position one way or the other," said Doug Roberts, chief investment strategist at Channel Capital Research.

Trading is expected to remain volatile throughout the summer months, which are typically marked by light volume that can skew movements in the market. Friday could bring heavier-than-normal volume because of the annual reconstitution of the Russell 3000 index at the end of the day's trading. Investors who track indexes will have to buy and sell hundreds of stocks to match the new makeup of the indexes.

Investors on Thursday were relieved to see the announcement that the Fed will allow a program for supporting money market mutual funds to lapse by the end of October. The central bank's decision, along with reductions in the amount it will lend to banks under two others is a sign the financial system is stabilizing. The Fed is extending five other programs.

On Wednesday, the Fed said it expects the economy will slowly resume growth and that inflation should remain in check.

Government bond prices jumped Thursday after an auction for $27 billion in seven-year notes drew strong demand.

Most auctions have been attracting solid demand this year, but investors remain cautious. If demand wanes, the government will have to boost yields to attract buyers.

The yield on the benchmark 10-year Treasury note jumped, pushing its yield down to 3.54 percent from 3.69 percent late Wednesday.

Ron Sweet, vice president of equity investments at USAA Investment Management Co., said the Treasury auction and the resulting drop in yields was a relief because it could reduce borrowing costs.

"Hopefully mortgage rates will be coming down," he said.

Among homebuilders, Lennar soared $1.37, or 17.5 percent, to $9.19, while Toll Brothers Inc. rose 85 cents, or 5.2 percent, to $17.09.

Bed Bath and Beyond gained $2.69, or 9.5 percent, to $31.08.

Other retailers rose. Home Depot Inc. advanced 89 cents, or 3.9 percent, to $23.57, and J.C. Penney Co. rose $1.60, or 6 percent, to $28.20.

More than four stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.2 billion shares compared with 1.1 billion shares Wednesday.

Crude oil rose $1.56 to settle at $70.23 a barrel on the New York Mercantile Exchange.

The dollar was mixed against other major currencies. Gold prices rose.

In other trading, the Russell 2000 index of smaller companies rose 14.23, or 2.9 percent, to 509.18.

Overseas, Britain's FTSE 100 fell 0.6 percent, Germany's DAX index fell 0.7 percent, and France's CAC-40 lost 0.7 percent. Japan's Nikkei stock average rose 2.2 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*For the week, the Dow lost 101 points, or 1.2 percent. The S&P 500 index fell 0.3 percent and the Nasdaq rose 0.6 percent. The Dow is down 3.9 percent for the year, while the S&P 500 and Nasdaq are higher.*

Consumers are saving more than they're spending, and that has investors worried.

Stocks capped a choppy week of trading with a mixed finish Friday after the Commerce Department reported that personal spending, incomes and savings all rose in May. What troubled investors was that the savings rate soared to 6.9 percent, a 15-year high, while spending rose by a modest 0.3 percent.

The trend suggests consumers are being very careful with their money. That's good for the individual, but not great for the overall economy in the short-term.

*The NYSE DOW closed LOWER -34.01 points -0.40% on Friday June 26*
Sym Last........ ........Change.......... 
Dow 8,438.39 -34.01 -0.40% 
Nasdaq 1,838.22 +8.68 +0.47% 
S&P 500 918.90 -1.36 -0.15% 
30-yr Bond 4.3030% -0.0260 

NYSE Volume 6,757,669,500 (prior day 6,063,876,000)
Nasdaq Volume 5,316,618,000 (prior day 2,277,026,000)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,241.01 -11.56 -0.27% 
DAX 4,776.47 -24.09 -0.50% 
CAC 40 3,129.73 -33.37 -1.05% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,877.39 +81.31 +0.83% 
Hang Seng 18,600.26 +325.23 +1.78% 
Straits Times 2,317.95 +15.49 +0.67% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks end mixed as savings rate jumps

Stocks finish mixed after uneven data; Personal spending rises, but so does savings *
By Madlen Read, AP Business Writer 
On Friday June 26, 2009, 5:45 pm EDT

NEW YORK (AP) -- Consumers are saving more than they're spending, and that has investors worried.

Stocks capped a choppy week of trading with a mixed finish Friday after the Commerce Department reported that personal spending, incomes and savings all rose in May. What troubled investors was that the savings rate soared to 6.9 percent, a 15-year high, while spending rose by a modest 0.3 percent.

The trend suggests consumers are being very careful with their money. That's good for the individual, but not great for the overall economy in the short-term.

Phil Orlando, chief equity market strategist at Federated Investors, said he expects the savings rate to eventually hit 10 percent before it eases. The savings rate had been 5.6 percent in April, and annual savings rates were below 1 percent from 2005 through 2007.

"If people ramp up savings that aggressively, that is going to result in less GDP recovery than ordinarily would be the case," Orlando said.

Gross domestic product dropped at an annual rate of 5.5 percent in the first quarter, the government reported earlier this week. As the first half of 2009 ends, investors are growing more anxious about whether the economy can bounce back later this year.

That uncertainty, bolstered by a mix of promising and worrisome data, led to a bumpy week in the stock market. After sliding early in the week, the Dow Jones industrial average rebounded by 2.1 percent on Thursday. But traders appeared eager to take some profits from that jump ahead of the weekend, analysts said.

Investors have been worrying that a 35.8 percent rally in the Standard & Poor's 500 index from a 12-year low on March 9 is overdone, because an economic recovery may be further out than many had earlier hoped. But with the end of the quarter on Tuesday some portfolio managers could be eager to take the market higher to burnish their numbers for the April-June period.

Economic data next week, particularly the government's monthly employment report on Thursday, could dominate a week shortened by the Independence Day holiday on Friday. Reports are also due on home sales and manufacturing.

The Dow fell 34.01, or 0.4 percent, on Friday to 8,438.39. The S&P 500 index fell 1.36, or 0.2 percent, to 918.90. The Nasdaq composite index rose 8.68, or 0.5 percent, to 1,838.22.

For the week, the Dow lost 101 points, or 1.2 percent. The S&P 500 index fell 0.3 percent and the Nasdaq rose 0.6 percent. The Dow is down 3.9 percent for the year, while the S&P 500 and Nasdaq are higher.

The University of Michigan reported a rise in consumer sentiment in June, better than the flat reading expected by analysts. But even that report could not trigger a rally.

The technology-dominated Nasdaq did better than the other major indexes, though, thanks in large part to Palm Inc. The smartphone maker posted a narrower loss for its fiscal fourth quarter than analysts expected. The stock rose $2.20, or 15.7 percent, to $16.22.

Government bond prices edged higher. The yield on the benchmark 10-year Treasury note, which moves opposite its price, slipped to 3.53 percent from 3.54 percent late Thursday.

The Russell 2000 index of smaller companies rose 4.04, or 0.8 percent, to 513.22.

Advancing stocks outnumbered declining stocks 3-to-2 on the New York Stock Exchange, where consolidated volume came to 5.1 billion, up from 4.9 billion logged Thursday. Volume was heavy because of the annual reconstitution of the Russell 3000 index, which forced investors to buy and sell hundreds of stocks to match the new makeup of the indexes.

Crude oil fell $1.07 to settle at $69.16 a barrel on the New York Mercantile Exchange.

The dollar was mixed against other major currencies. Gold prices rose.

Overseas, Britain's FTSE 100 fell 0.3 percent, Germany's DAX index fell 0.5 percent, and France's CAC-40 fell 1.1 percent. Japan's Nikkei stock average rose 0.8 percent.

The Dow Jones industrial average closed the week down 101.34, or 1.2 percent, at 8,438.39. The Standard & Poor's 500 index fell 2.33, 0.3 percent, to 918.90. The Nasdaq composite index rose 10.75, or 0.6 percent, to 1,838.22.

The Russell 2000 index, which tracks the performance of small company stocks, rose 0.5, or 0.1 percent, for the week to 513.22.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 9,417.51, down 10.99, or 0.1 percent, for the week. A year ago, the index was at 13,125.12.
061


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

A jump in oil prices sent investors rushing to put money into the stock market in the final days of the second quarter.

Energy, industrial and materials stocks pulled the market higher in light trading Monday as investors raced to keep up with the gains in oil.

Crude rose $2.33 to settle at $71.49 a barrel on the New York Mercantile Exchange after China said it would boost oil reserves and Nigerian militants partly shut down an offshore oil platform.

The NYSE DOW closed HIGHER +90.99 points +1.08% on Monday June 29
Sym Last........ ........Change.......... 
Dow 8,529.38 +90.99 +1.08% 
Nasdaq 1,844.06 +5.84 +0.32% 
S&P 500 927.23 +8.33 +0.91% 
30-yr Bond 4.3070% +0.0040 

NYSE Volume 4,924,416,000 (prior day 6,757,669,500)
Nasdaq Volume 2,044,852,000 (prior day 5,316,618,000)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,294.03 +53.02 +1.25% 
DAX 4,885.09 +108.62 +2.27% 
CAC 40 3,193.68 +63.95 +2.04% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,783.47 -93.92 -0.95% 
Hang Seng 18,528.51 -71.75 -0.39% 
Straits Times 2,317.17 -0.78 -0.03% 

http://finance.yahoo.com/news/Rising-oil-commodity-prices-apf-1994381510.html?x=0
*Rising oil, commodity prices pull stocks higher

Gains in commodities lift energy, industrial shares; Investors await week's key data *
By Tim Paradis, AP Business Writer 
On Monday June 29, 2009, 6:41 pm EDT

NEW YORK (AP) -- A jump in oil prices sent investors rushing to put money into the stock market in the final days of the second quarter.

Energy, industrial and materials stocks pulled the market higher in light trading Monday as investors raced to keep up with the gains in oil.

Crude rose $2.33 to settle at $71.49 a barrel on the New York Mercantile Exchange after China said it would boost oil reserves and Nigerian militants partly shut down an offshore oil platform.

With the quarter's end coming up on Tuesday, some money managers were making last-minute adjustments to their portfolios just ahead of issuing quarterly reports to their clients. A benchmark against which many funds are compared, the Standard & Poor's 500 index, is up 16.2 percent since the start of the April-June quarter.

Analysts cautioned against seeing the upswing as a sign of conviction among investors that it was time to move into the market ahead of an economic recovery. Stocks seesawed in the early going but jumped after oil gained.

After running the S&P 500 index up 37 percent since March on a litany of "less bad" economic data, investors have become more cautious about the pace of the economy's recovery this month and are looking for more concrete signs of growth.

The Dow Jones industrial average rose 90.99, or 1.1 percent, to 8,529.38. The S&P 500 index rose 8.33, or 0.9 percent, to 927.23, while the Nasdaq composite index rose 5.84, or 0.3 percent, to 1,844.06. Stocks ended last week mixed.

There was little economic news Monday but the week, which is abbreviated by the Independence Day holiday on Friday, brings key data that could give investors a better sense of where the economy is headed.

Of particular importance is the monthly employment report due out Thursday. Though considered a lagging indicator of the country's economic health, the unemployment rate is still one of the most closely watched gauges of the economy. The labor market is intricately tied to many facets of the economy including consumer spending.

Investors also will get reports on consumer confidence and manufacturing this week.

The Dow is up 30.3 percent from a 12-year low on March 9, though it has fallen 3.1 percent from a five-month high on June 12. The blue chips are now down only 2.8 percent in 2009.

Harry Rady, chief executive of Rady Asset Management, is concerned that although the market's rally has lost steam in the past three weeks traders are still too optimistic about how quickly the economy can recover.

"I see a bit of complacency creeping into the market," he said. "The market has run up and that has the inverse effect of what it should."

Rady sees trouble in the continuing retreat of a gauge of fear in the stock market, and contends that investors are overlooking danger spots in the economy like heavy debt loads and weakness in the dollar.

The Chicago Board Options Exchange Volatility Index, or VIX, is a measure of stock market volatility that has been easing since early March. The VIX is down 37 percent in 2009 and stands below 26. The historical average is 18-20. It hit a record 89.5 in October at the height of the financial crisis.

Three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to a light 4 billion shares compared with 5.1 billion traded Friday. Volume was heavy Friday because of the annual reconstitution of the Russell 3000 index forced investors to make changes to their portfolios.

Bond prices rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.48 percent from 3.53 percent late Friday.

The dollar was mixed against other major currencies. Gold prices fell.

The gains in commodities lifted energy, industrial and materials stocks. Exxon Mobil Corp. rose $1.53, or 2.2 percent, to $70.58, defense contractor General Dynamics Corp. rose $1.54, or 2.8 percent, to $57 and Eastman Chemical Co. rose $1.38, or 3.7 percent, to $38.79.

Shares of Ford Motor Co. rose 17 cents, or 3 percent, to $5.78 after the automaker's top sales analyst said U.S. auto sales might have stopped their month-to-month slide in June and could be down less than 30 percent for the first time since September. Automakers, which are expected to report June sales in the U.S. on Wednesday, have been hit by a 37 percent drop in sales in the first five months of the year.

In other trading, the Russell 2000 index of smaller companies fell 2.61, or 0.5 percent, to 510.61.

Overseas, Britain's FTSE 100 rose 1.3 percent, Germany's DAX index advanced 2.3 percent, and France's CAC-40 rose 2 percent. Japan's Nikkei stock average fell 1 percent.
266


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors carried Wall Street to a remarkable second-quarter performance even though stocks' big spring rally stalled weeks ago.

The major indexes all managed to end the quarter with double-digit percentage gains. Now, whether the market regains its momentum in the July-September period or hunkers down again will depend on what companies have to say in the next few weeks -- not just about their own prospects, but the economy's as well.

The Dow Jones industrial average rose 11 percent during the quarter, while the Standard & Poor's 500 index surged 15.2 percent. Both indexes logged their first quarterly gains since the third quarter of 2007. The Dow also had its best quarter since 2003 and the S&P 500 its best since 1998.

The S&P 500 index and the Nasdaq composite index are finishing the first half of 2009 in the black. The Nasdaq, heavily populated by tech stocks, rose 20 percent for its first winning quarter in a year and had its best quarter since 2003.

*The NYSE DOW closed LOWER -82.38 points -0.97% on Tuesday June 30*
Sym Last........ ........Change.......... 
Dow 8,447.00 -82.38 -0.97% 
Nasdaq 1,835.04 -9.02 -0.49% 
S&P 500 919.32 -7.91 -0.85% 
30-yr Bond 4.3110% +0.0040 

NYSE Volume 5,913,933,500 (prior day 4,924,416,000)
Nasdaq Volume 2,130,378,750 (prior day 2,044,852,000)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,249.21 -44.82 -1.04% 
DAX 4,808.64 -76.45 -1.56% 
CAC 40 3,140.44 -53.24 -1.67% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,958.44 +174.97 +1.79% 
Hang Seng 18,378.73 -149.78 -0.81% 
Straits Times 2,333.14 +15.97 +0.69% 

http://finance.yahoo.com/news/Strong-quarter-ends-apf-1729229818.html?x=0
*Strong quarter ends cautiously as earnings loom

Stock market has best quarter in years, but enthusiasm wanes as earnings loom *
By Madlen Read, AP Business Writer 
On Tuesday June 30, 2009, 6:10 pm EDT

NEW YORK (AP) -- Investors carried Wall Street to a remarkable second-quarter performance even though stocks' big spring rally stalled weeks ago.

The major indexes all managed to end the quarter with double-digit percentage gains. Now, whether the market regains its momentum in the July-September period or hunkers down again will depend on what companies have to say in the next few weeks -- not just about their own prospects, but the economy's as well.

The Dow Jones industrial average rose 11 percent during the quarter, while the Standard & Poor's 500 index surged 15.2 percent. Both indexes logged their first quarterly gains since the third quarter of 2007. The Dow also had its best quarter since 2003 and the S&P 500 its best since 1998.

The S&P 500 index and the Nasdaq composite index are finishing the first half of 2009 in the black. The Nasdaq, heavily populated by tech stocks, rose 20 percent for its first winning quarter in a year and had its best quarter since 2003.

The quarter turned out better than most traders might have expected when the major indexes sank to 12-year lows in early March on growing despair about the recession. But the market's advance wasn't as impressive as it was in mid-June, when the major indexes hit multi-month highs. Since then, investors' uncertainty about the strength of an economic recovery has brought the Dow down 4 percent, the S&P 500 down 2.8 percent and the Nasdaq, 1.5 percent.

On Tuesday, the last day of the quarter, the Dow fell 82.38, or 1 percent, to 8,447.00; the S&P 500 fell 7.90, or 0.9 percent, to 919.33, and the Nasdaq slid 9.02, or 0.5 percent, to 1,835.04.

Investors have gone through a big psychological shift over the past six months. After sending the Dow plunging to a 12-year low in early March amid fears of another Great Depression, they drove it up a staggering 34 percent from mid-March to mid-June as the global economy and corporate world showed signs of stabilizing.

It was the shortest time frame for a market recovery of that size since the 1930s. And while no one knows yet if the United States was coming out of a recession during the just-ended quarter, the market as measured by the S&P 500 acted as if it was. The S&P 500 was up 13.6 percent in the first quarter of 1991 as it came out of a recession, and 16.8 percent in the fourth quarter of 1982.

"That massive fear of a complete failure in the financial system? That's been taken off the table," said Brett D'Arcy, chief investment officer of CBIZ Wealth Management. "The doomsday predictions? Those have been largely pushed aside."

But investors are well aware that American businesses may still be facing hard times. That's making the market uneasy about what corporate executives have to say in the coming weeks.

First, there's the issue of how they're making money. Companies largely cost-cut their way into profitability in the first quarter of 2009. That technique might not fly with investors looking for signs of real growth as they enter the second half of the year -- when the economic recovery is supposed to arrive.

"I don't think the markets are going to give companies a free pass anymore," said Keith Wirtz, president and chief investment officer at Fifth Third Asset Management in Cincinnati.

Second, investors want to hear executives' take on the economy. Outlooks are important in any business environment because companies offer more detailed views into economic indicators such as orders, inventories and consumer trends.

Even if the forecasts are disappointing, analysts believe stocks are on a more solid footing than they were earlier this year. The market is no longer being driven by panic.

Still, stocks have paused and wobbled because the economic data that fired up their rally in early March haven't improved significantly the past few weeks.

"The world isn't ending," said Wirtz, but now, "all eyes and all thoughts are on the recovery side: How big will the recovery be? How strong?"

Companies aren't laying off workers as much as they were in early 2009, but the unemployment rate keeps heading toward 10 percent. Reports have shown that consumers are saving more than they're spending, and that home prices still haven't recovered.

Stocks fell Tuesday after the Conference Board's consumer confidence index fell unexpectedly in June. The Standard & Poor's/Case-Shiller index showed another decline in home prices, albeit it the smallest since June 2008.

For Wall Street's rally to continue, the market needs to experience that economic recovery, said Nicholas Colas, chief market strategist at ConvergEx.

The U.S. government has pumped trillions of dollars into the financial system and the economy. Stimulus packages usually take six to nine months to work their way through the system, so investors will be looking for those dollars showing up in corporate growth and personal spending in the second half.

The most closely watched industry during earnings season will be financial companies, Colas said, as banks have gotten the biggest boosts from the government. Colas predicts impressive second-quarter results from financial institutions, but major disappointments could thwart the market's recovery.

"If the banking system is not getting healthy or generating profits, nothing else is going to work," he said.

Fortunately, investors still seem cautiously upbeat, which might allow them to stomach some more mildly disappointing news in the coming months.

Bob Doll, global chief investment officer for equities at BlackRock Inc., anticipates U.S. stocks will log a double-digit percentage gain in 2009 -- an impressive move, though it's important to remember that Wall Street had its worst year since the Depression in 2008.

D'Arcy, Colas and Wirtz also expect the S&P 500 index, the broadest measure of the stock market, to finish the year higher.

The S&P 500 is only up 1.8 percent since the beginning of the year, and still down 41 percent from its record high in October 2007, so the second-quarter rally needs to be put in perspective, D'Arcy said.

"As long as there are no real disasters in the earnings," D'Arcy said, "we'll be fine."


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors kicked off the stock market's third quarter with a moderate gain after getting some reassuring data on manufacturing and housing.

The Dow Jones industrial average rose by 0.7 percent Wednesday, rebounding from the previous day's selloff that was triggered by a drop in consumer confidence. Other indexes made moderate advances as well.

The buying was tempered by caution ahead of Thursday's June jobs report.

*The NYSE DOW closed HIGHER +57.06 points +0.68%  on Wednesday July 1*
Sym Last........ ........Change.......... 
Dow 8,504.06 +57.06 +0.68% 
Nasdaq 1,845.72 +10.68 +0.58% 
S&P 500 923.33 +4.01 +0.44% 
30-yr Bond 4.3470% +0.0360 

NYSE Volume 4,760,231,500 (prior day 5,913,933,500)
Nasdaq Volume 2,015,305,120 (prior day 2,130,378,750)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,340.71 +91.50 +2.15% 
DAX 4,905.44 +96.80 +2.01% 
CAC 40 3,217.00 +76.56 +2.44% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,939.93 -18.51 -0.19% 
Hang Seng 18,378.73 -149.78 -0.81% 
Straits Times 2,352.55 +19.41 +0.83% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks advance after mixed data; Jobs report looms

Stocks rise after data shows more stable manufacturing activity, rise in pending home sales *
By Madlen Read and Ieva M. Augstums, AP Business Writers 
On Wednesday July 1, 2009, 5:41 pm EDT

NEW YORK (AP) -- Investors kicked off the stock market's third quarter with a moderate gain after getting some reassuring data on manufacturing and housing.

The Dow Jones industrial average rose by 0.7 percent Wednesday, rebounding from the previous day's selloff that was triggered by a drop in consumer confidence. Other indexes made moderate advances as well.

The buying was tempered by caution ahead of Thursday's June jobs report.

"That's going to be the big one," said Chris Johnson, president of Johnson Research Group. "People are keeping their eye on the unemployment figure."

The Labor Department is expected to report another uptick in the unemployment rate to 9.6 percent, according to economists surveyed by Thomson Reuters. Growing unemployment has been keeping investors nervous about consumer spending -- a major driver of growth.

Much of Wednesday's data was positive, including a report showing more stable manufacturing activity in the United States, and another indicating the fourth straight monthly rise in pending home sales. Stocks also got a boost from European markets, which rose following similarly upbeat manufacturing data in that region.

Not all of the economic news was upbeat, however. Construction spending fell in May by more than the market expected, and according to the ADP National Employment Report, the private sector lost more jobs in June than anticipated.

Some of Wednesday's bounce may simply have been due to stocks appearing cheaper following Tuesday's drop and investors looking to put money to work as the new quarter began.

"Some of the buying that wasn't done yesterday is being done today," said Richard E. Cripps, chief market strategist for Stifel Nicolaus, adding that he was surprised by Wednesday's upward move. "There isn't a lot of convincing volume here to read too much into this."

The Dow rose 57.06, or 0.7 percent, to 8,504.06. It climbed as high as 8,580.47 in earlier trading, but then pared its gains as the day went on.

The Standard & Poor's 500 index rose 4.01, or 0.4 percent, to 923.33. The Nasdaq composite index rose 10.68, or 0.6 percent, to 1,845.72.

Scott Fullman, director of derivatives investment strategy for WJB Capital Group, said the employment report -- along with thin, pre-holiday trading volumes -- could make for a volatile market Thursday. U.S. markets are closed Friday in observance of the July Fourth holiday.

Nonetheless, investors remain optimistic that the economy will be in better shape by the end of the year. "The belief is the worst is behind us," Fullman said.

About three stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to a lower-than-usual 4 billion shares, versus 4.9 billion shares the day before.

Bond prices were little changed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was flat at 3.54 percent.

In an upbeat earnings report, General Mills Inc. said its fiscal fourth-quarter profit nearly doubled. The maker of Cheerios cereal and Yoplait yogurt also offered earnings guidance for 2010 above analysts' expectations. Shares rose $2.16, or 3.9 percent, to $58.18.

The biggest gainer among the 30 Dow stocks was Kraft Foods Inc., another food maker. Kraft rose $1.27, or 5 percent, to $26.61.

Analysts say earnings reports coming in the next few weeks will largely determine which way the market heads in the third quarter. Investors are especially eager to hear what companies have to say about business prospects in the second half of the year.

Markets have made a stunning recovery since hitting 12-year lows in early March. All the major indexes rose by double-digit percentage points in the second quarter, while the S&P 500 index and the Nasdaq composite index finished higher for the first six months of 2009.

The major indexes have pulled back from multi-month highs in mid-June amid growing doubts about the strength of the economy's recovery.

But Eric Ross, director of research at Canaccord Adams, said he doesn't think investors have fully appreciated how much the economy has stabilized.

"They are waiting for another leg down on the market, and I'm not sure we're going to see it," Ross said. "There is too much money on the sidelines."

The Russell 2000 index of smaller companies rose 9.18, or 1.8 percent, to 517.46.

The dollar was mostly lower against other major currencies, while gold prices rose.

Light, sweet crude fell 58 cents to $69.31 a barrel on the New York Mercantile Exchange.

Overseas, Japan's Nikkei stock average fell 0.2 percent. Britain's FTSE 100 rose 2.2 percent, Germany's DAX index rose 2 percent, and France's CAC-40 jumped 2.4 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The stock market found little to celebrate heading into the long holiday weekend.

Major stock indexes fell more than 2.6 percent Thursday, pushing the Dow Jones industrials to their lowest level in six weeks, after the government said the unemployment rate hit a 26-year high and employers cut far more jobs than expected.

The data was especially disappointing since it broke a trend of four straight months of improvement in job losses. The report -- one of the most closely watched gauges of the economy's health -- delivered the latest blow to the market's already waning confidence.

*The NYSE DOW closed LOWER -223.32 points -2.63%  on Thursday July 2*
Sym Last........ ........Change.......... 
Dow 8,280.74 -223.32 -2.63% 
Nasdaq 1,796.52 -49.20 -2.67% 
S&P 500 896.42 -26.91 -2.91% 
30-yr Bond 4.3170% -0.0300 

NYSE Volume 4,799,210,000 (prior day 4,760,231,500)
Nasdaq Volume  1,961,398,500 (prior day 2,015,305,120)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,234.27 -106.44 -2.45% 
DAX 4,718.49 -186.95 -3.81% 
CAC 40 3,116.41 -100.59 -3.13% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,876.15 -63.78 -0.64% 
Hang Seng 18,178.05 -200.68 -1.09% 
Straits Times 2,320.82 -31.73 -1.35% 

http://finance.yahoo.com/news/Jobless-data-sends-stocks-apf-1457412974.html?x=0

*Jobless data sends stocks reeling; Dow loses 223

Stocks tumble as US unemployment rate reaches 26-year high; Dow has worst day since April *

By Stephen Bernard and Ieva M. Augstums, AP Business Writers 
On Thursday July 2, 2009, 6:37 pm EDT

NEW YORK (AP) -- The stock market found little to celebrate heading into the long holiday weekend.

Major stock indexes fell more than 2.6 percent Thursday, pushing the Dow Jones industrials to their lowest level in six weeks, after the government said the unemployment rate hit a 26-year high and employers cut far more jobs than expected.

The data was especially disappointing since it broke a trend of four straight months of improvement in job losses. The report -- one of the most closely watched gauges of the economy's health -- delivered the latest blow to the market's already waning confidence.

Investor optimism has been shaken in recent weeks amid a barrage of mixed economic reports, making for an erratic market.

This past week was no exception. Stocks rose Monday, then erased nearly all their gains the following day after a report showing an unexpected drop in consumer confidence.

On Wednesday the market bounced back after getting some reassuring data on manufacturing and housing, only to tumble again on Thursday on the disappointing jobs report.

"There's not a lot of conviction on either side," said Jill Evans, co-portfolio manager of the Alpine Dynamic Dividend Fund.

The Dow Jones industrials lost 223.32, or 2.6 percent, to 8,280.74, the lowest close since May 22. It was the average's worst day since April 20.

The Standard & Poor's 500 index fell 26.91, or 2.9 percent, to 896.42 and the Nasdaq composite index fell 49.20, or 2.7 percent, to 1,796.52.

Trading on the New York Stock Exchange was extended until 4:15 p.m. Eastern time in order to execute customer orders impacted by system irregularities, an NYSE spokeswoman said.

The stock market rallied furiously this spring off of 12-year lows beginning in early March on hopes for a recovery, but the upward momentum has stalled since mid-June as doubts grow about whether the economy had really found a bottom.

Since hitting multi-month highs on June 12, the Dow has fallen a total of 5.9 percent, while the S&P 500 index has lost 5.3 percent.

"There's more and more evidence mounting against this rally continuing," said Doug De Groote, a managing director at United Wealth Management. Consumers are likely to lead the nation out of the ongoing recession, but that won't happen if more people are losing their jobs, he said.

Stocks started the day down and stayed there after the Labor Department reported that employers slashed 467,000 jobs in June, far worse than the 363,000 that economists expected and a grim signal that the path to recovery will be bumpy. The unemployment rate rose to 9.5 percent from 9.4 percent the month before.

Overseas markets also fell Thursday after a report showed unemployment in Europe rose to a 10-year high in May.

As stock prices fell across the board, other signs of investor unease emerged. Treasury prices rose, driving the yield on the 10-year note down to 3.50 percent from 3.54 percent late Wednesday.

Meanwhile a gauge of volatility in the stock market, the Chicago Board Options Exchange Volatility Index, or VIX, jumped 1.73, or 6.6 percent, to 27.95 Thursday afternoon.

Declining issues outnumbered advancers by about 5 to 1 on the New York Stock Exchange.

Consolidated volume came to a relatively low 3.56 billion shares ahead of the holiday weekend, compared with 4 billion shares traded a day earlier. Light volume can lead to more volatile swings in trading.

Markets will be closed Friday in observance of the Independence Day holiday.

For the week, the Dow finished down 1.9 percent; the S&P 500 lost 2.5 percent; and the Nasdaq fell 2.3 percent.

An upbeat report about May factory orders was not enough to boost traders' confidence amid the weak employment numbers. The Commerce Department said total orders rose 1.2 percent in May, better than the 0.8 percent increase that economists had expected.

Markets kicked off the third quarter on Wednesday with gains as investors found encouragement in a report showing more stable manufacturing activity and another indicating the fourth straight monthly rise in pending home sales.

Next week, the focus will shift to companies' quarterly earnings, which kick off Wednesday with a report from aluminum producer Alcoa Inc.

The dollar rose against most other major currencies, while gold prices fell.

The Russell 2000 index of smaller companies fell 20.25, or 3.9 percent, to 497.21.

Overseas, Japan's Nikkei stock average fell 0.6 percent. Britain's FTSE 100 fell 2.5 percent, Germany's DAX index declined 3.8 percent, and France's CAC-40 fell 3.1 percent.

The Dow Jones industrial average closed the week down 157.65, or 1.9 percent, at 8,280.74. The Standard & Poor's 500 index fell 22.48, 2.5 percent, to 896.42. The Nasdaq composite index fell 41.70, or 2.3 percent, to 1,796.52.

The Russell 2000 index, which tracks the performance of small company stocks, fell 16.01, or 3.1 percent, for the week to 497.21.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 9,201.07, down 216.44, or 2.3 percent, for the week. A year ago, the index was at 12,842.33.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*Friday July 3 -- Wall Street's closure for the Independence Day holiday *

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,236.28 +2.01 +0.05% 
DAX 4,708.21 -10.28 -0.22% 
CAC 40 3,119.51 +3.10 +0.10% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,816.07 -60.08 -0.61% 
Hang Seng 18,203.40 +25.35 +0.14% 
Straits Times 2,299.75 -21.07 -0.91% 


http://finance.yahoo.com/news/European-stocks-calm-as-US-apf-2468753027.html?x=0

*European stocks calm as US readies for 4th of July

European markets steady as US readies for Independence Day celebrations *
By Pan Pylas, AP Business Writer 
On Friday July 3, 2009, 12:34 pm EDT

LONDON (AP) -- European stock markets traded in a narrow range Friday as investors caught their breath after big losses the day before on U.S. jobs data. Wall Street's closure for the Independence Day holiday kept trading volumes exceptionally light.

The FTSE 100 index of leading British shares closed up 2.01 points, or 0.1 percent, at 4,236.28, while Germany's DAX fell 10.28 points, or 0.2 percent, to 4,708.21. The CAC-40 in France was 3.10 points, or 0.1 percent, higher at 3,119.51.

Earlier, Asian markets mostly fell but the losses were tame compared to those recorded on Wall Street on Thursday after the payrolls data, which showed U.S. employers slashed 467,000 jobs in June -- 100,000 more than anticipated.

That was also the first increase in monthly jobs losses since January.

"Yesterday's U.S. jobs data contained plenty of bad news and put a big question mark over the 'green shoot' thesis that we are through the worst and that economic recovery is around the corner," said Neil Mackinnon, chief economist at ECU Group.

Equities rose from the middle of March until the start of June on hopes that the U.S. economy in particular will recover from recession sooner than anticipated. Many investors saw stock valuations as particularly cheap and started buying. But bad economic news over the last few weeks brought an abrupt end to the rally and altered the general mood prevailing among investors.

Nevertheless, stocks around the world still managed to achieve one of the best quarters in years during the second quarter. The S&P 500 index in the U.S. rose around 16 percent during the quarter, its best performance since 1998, amid hopes of a global recovery despite worries about the banking system, public finances and the length and depth of the recession.

Trading has been subdued as the U.S. has a day off ahead of Saturday's 4th of July celebrations and many in London focused on the Wimbledon tennis championships semi-finals, where Andy Murray was facing American Andy Roddick as the markets closed in an attempt to become the first Briton for 71 years to make the final.

"With New York shut for Independence Day the boys and girls in equity trading rooms are levitating two inches above the carpet in anticipation of the two Andys swapping rackets at 50 paces... and care little about the vagaries of the market place," said David Buik, a markets analyst at BGC Partners in London.

Earlier, Japan's Nikkei 225 stock average dropped 60.08 points, or 0.6 percent, to 9,816.07, and Hong Kong's Hang Seng closed up 25.35 points, or 0.1 percent, to 18,203.40 after trading in the red most of the day.

Australia's benchmark fell 1.4 percent, and Singapore's main index finished down 1 percent.

China's Shanghai Composite index was largely flat. In Korea, the Kospi rebounded to close up 0.6 percent.

Oil prices rose in light holiday trading volume after tumbling the day before as the disappointing U.S. job numbers raised concerns about demand. Benchmark crude for August delivery fell 48 cents to $66.25 a barrel.

The dollar was up 0.1 percent at 96 yen, while the euro rose 0.3 percent to $1.3992.
513


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors are fearing they may have bet too soon on an economic comeback.

Stocks ended mostly lower Monday as drops in prices for oil and other commodities had investors worrying again that demand for basic materials may remain slack. The major market indexes closed mixed but off of their lows for the day.

The drop in oil to a five-week low pushed energy and commodities stocks lower and sent investors into safe-haven parts of the market, like consumer goods producers. Occidental Petroleum slid 2.5 percent while Procter & Gamble Co., which makes Tide and Crest, rose 2 percent.

*The NYSE DOW closed HIGHER +44.13 points +0.53% on Monday July 6*
Sym Last........ ........Change.......... 
Dow 8,324.87 +44.13 +0.53% 
Nasdaq 1,787.40 -9.12 -0.51% 
S&P 500 898.72 +2.30 +0.26% 
30-yr Bond 4.3510% +0.0340 

NYSE Volume 5,580,559,000 (prior day 4,799,210,000)
Nasdaq Volume 2,004,212,880 (prior day 1,961,398,500)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,194.91 -41.37 -0.98% 
DAX 4,651.82 -56.39 -1.20% 
CAC 40 3,082.16 -37.35 -1.20% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,680.87 -135.20 -1.38% 
Hang Seng 17,979.41 -223.99 -1.23% 
Straits Times 2,266.09 -33.66 -1.46% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks end mixed; Oil slide hits energy shares

Stock market ends mixed on conflicting signals on economy; Oil tumbles, consumer staples gain *
By Tim Paradis, AP Business Writers 
On Monday July 6, 2009, 6:07 pm EDT

NEW YORK (AP) -- Investors are fearing they may have bet too soon on an economic comeback.

Stocks ended mostly lower Monday as drops in prices for oil and other commodities had investors worrying again that demand for basic materials may remain slack. The major market indexes closed mixed but off of their lows for the day.

The drop in oil to a five-week low pushed energy and commodities stocks lower and sent investors into safe-haven parts of the market, like consumer goods producers. Occidental Petroleum slid 2.5 percent while Procter & Gamble Co., which makes Tide and Crest, rose 2 percent.

Back-and-forth trading Monday followed conflicting signs about the economy. Oil skidded on fears of weak demand, while a trade group's report found that activity in the services industry rose in June to its best level in nine months.

Investors have become more cautious in recent weeks following a strong rally that began in March. Some traders fear they might have been too optimistic about how soon the economy might recover from a recession that began in December 2007.

"The markets are becoming more realistic," said Subodh Kumar, global investment strategist at Subodh Kumar & Associates in Toronto. "We can't snap our fingers and have recovery."

The Dow Jones industrial average rose 44.13, or 0.5 percent, to 8,324.87, and the broader Standard & Poor's 500 index rose 2.30, or 0.3 percent, to 898.72. The technology-heavy Nasdaq composite index fell 9.12, or 0.5 percent, to 1,787.40.

Oil fell $2.68 to settle at $64.05 per barrel on the New York Mercantile Exchange. Last week, oil hit an eight-month high above $73.

In economic news, the Institute for Supply Management's services index rose to 47 in June from 44 in May, beating the expectation of 45.5 from economists polled by Thomson Reuters.

The relatively good showing, however, wasn't enough to assuage growing doubts about the economy that worsened last week on disappointing reports on consumer confidence and deep job cuts for June.

The stock market has relatively few guideposts to give it direction this week ahead of second-quarter earnings reports, which get under way Wednesday with Dow component Alcoa Inc. but don't pick up speed until next week.

Sound results at a Treasury Department auction of $8 billion in 10-year Treasury Inflation-Protected Securities, or TIPS, helped reassure investors that the government will be able to finance its spending plans to help revive the economy.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note was up slightly at 3.51 percent, compared with late Thursday's 3.50 percent, and the yield on the three-month T-bill rose to 0.16 percent from 0.15 percent. U.S. markets were closed Friday for the July Fourth holiday.

An analyst upgraded his rating on American Express Co., saying that the credit card company would be among the least affected by regulatory changes and that worries about bad debt are easing. The stock rose $1.25, or 5.6 percent, to $23.52.

The drop commodities hit companies like Exxon Mobil Corp., which fell 39 cents, or 0.6 percent, to $68.10, and Occidental, down $1.58, or 2.5 percent, at $61.70.

Alcoa fell 60 cents, or 6.1 percent, to $9.26, while Freeport-McMoRan Copper & Gold Inc. fell $3.78, or 7.6 percent, to $45.94.

Among consumer staples companies, P&G rose $1.06, or 2.1 percent, to $52.17.

The mixed trading comes after the market reached a plateau in mid-June, mainly holding on to the gains it notched this spring. Investors are looking for confirmation of an economic recovery to take stocks higher. The upcoming earnings season and any forecasts companies make about the rest of the year are sure to answer questions about where the market goes next.

"There is a sense that the fundamentals in the marketplace haven't caught up with the technical rally that we got in March," said Dan Deming, a trader with Strutland Equities in Chicago.

Three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume came to a light 4.63 billion shares, compared with 3.56 billion traded Thursday.

The Russell 2000 index of smaller companies fell 3.18, or 0.6 percent, to 494.03.

The dollar was mixed against other major currencies, while gold prices also rose.

Overseas, Britain's FTSE 100 fell 1 percent, Germany's DAX index fell 1.2 percent, and France's CAC-40 slid 1.1 percent. Japan's Nikkei stock average fell 1.4 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Falling oil prices are becoming another sign of investors' deflating hopes for a speedy economic recovery.

Major stock indexes skidded 2 percent Tuesday as crude fell for the fifth straight day and the Dow Jones industrial average fell 161 points to its lowest close since late April.

Lower oil prices can help the economy by reducing costs, but investors are looking to the latest slide as an unwelcome prediction that demand for energy and basic materials will remain weak as the recession lingers.

*The NYSE DOW closed LOWER -161.27 points -1.94% on Tuesday July 7*
Sym Last........ ........Change.......... 
Dow	8,163.60	-161.27	-1.94%
Nasdaq	1,746.17	-41.23	-2.31%
S&P 500	881.03	-17.69	-1.97%
10 Yr Bond(%)	3.4600%	-0.0460

NYSE Volume 5,544,895.000 (prior day 5,580,559,000)
Nasdaq Volume 2,072,804.38 (prior day 2,004,212,880)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,187.00 -7.91 -0.19% 
DAX 4,598.19 -53.63 -1.15% 
CAC 40 3,048.57 -33.59 -1.09% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,647.79 -33.08 -0.34% 
Hang Seng 17,862.27 -117.14 -0.65% 
Straits Times 2,272.26 +6.17 +0.27% 

http://finance.yahoo.com/news/Slumping-crude-oil-prices-apf-1815314018.html?x=0

*Slumping crude oil prices drag stock market lower

Stocks slump as tumbling oil prices drag energy shares down; Jitters grow about earnings* 
By Sara Lepro, AP Business Writer 
On Tuesday July 7, 2009, 5:52 pm EDT

NEW YORK (AP) -- Falling oil prices are becoming another sign of investors' deflating hopes for a speedy economic recovery.

Major stock indexes skidded 2 percent Tuesday as crude fell for the fifth straight day and the Dow Jones industrial average fell 161 points to its lowest close since late April.

Lower oil prices can help the economy by reducing costs, but investors are looking to the latest slide as an unwelcome prediction that demand for energy and basic materials will remain weak as the recession lingers.

Trading volume remained light amid a dearth of news about the economy this week and as investors await the beginning of the second-quarter earnings season, which starts Wednesday with Alcoa Inc. but won't pick up speed until next week.

Stocks have drifted lower in recent days as the market's confidence about the economy took hits from a poor jobs report for June, waning consumer confidence and plunging commodities prices.

That stoked fears that the market might have gotten ahead of itself in March and April, when investors sent stocks soaring in hopes that a nearly two-year-long recession will end some time this year. The next guideposts for the market will be the forecasts companies give during earnings reports about how business conditions look for the rest of the year.

"Uncertainty has crept back into the picture," said Carl Beck, partner at Harris Financial Group. "We started to get some data that put a damper on some of the optimism that had been growing about the economic recovery and that sort of put everything on hold until we start hearing from companies."

The Dow fell 161.27, or 1.9 percent, to 8,163.60. It was the lowest finish for the blue chips since April 28.

The broader Standard & Poor's 500 index fell 17.69, or 2 percent, to 881.03, its lowest finish since May 1. The Nasdaq composite index lost 41.23, or 2.3 percent, to 1,746.17, the lowest close since May 27.

Stocks ended mixed on Monday after all the major indexes posted losses last week. The Dow and the S&P 500 have shed about 7 percent since their recent highs on June 12. The Dow is still up 25 percent from a 12-year low hit on March 9 and the S&P 500 index is up 30.2 percent.

Oil tumbled from an eight-month high hit last week on concerns that a weak economy will dampen demand for energy.

Light, sweet crude fell $1.12 to settle at $62.93 a barrel on the New York Mercantile Exchange, helping to send Exxon Mobil Corp. down $1.54, or 2.3 percent, to $66.56. ConocoPhillips lost 84 cents, or 2.1 percent, to $39.99.

Doreen Mogavero, president of brokerage Mogavero, Lee & Co., said thin trading volume meant many investors were standing on the sidelines. She said discussions in Washington and on trading desks about the potential for more government stimulus spending was unnerving.

"Once you start saying this is something we might have to do again, that says it's not working and that's not good," she said.

Disappointing economic news over the last few weeks, culminating in Thursday's worse-than-expected jobs report for June, has undermined investors' belief that the economy would rebound significantly.

Investors are already on edge with corporate results due. Analysts say expectations are still relatively low, so companies could do better than what the market has forecast. At the same time, companies have cut costs dramatically in recent months, which could boost profits.

"Over the next few weeks, we'll get a real sense for whether there are reasons to be optimistic about the business outlook during the second half of 2009," said Michael Sheldon, chief market strategist at RDM Financial.

Despite the overall weakness in the market Tuesday, there was some buying of health care stocks after an analyst said the White House had signaled it would be open to negotiation on a public insurance option in its drive to reform health care, which would benefit managed-care companies.

Aetna Inc. jumped more than 6 percent, adding $1.53 to $25.94. Cigna Corp. rose more than 7 percent, gaining $1.77 to $25.24.

Declining issues outnumbered advancers by more than three to one on the New York Stock Exchange, where consolidated volume came to 4.6 billion shares and was essentially flat with Monday. Light volume can exaggerate market movements.

Bond prices were mostly higher as investors looked for safety. Results from an auction of $35 billion in three-year notes were mixed but demand was decent.

Investors have been worried in recent weeks that the government might have to raise interest rates to entice buyers as it issues massive amounts of debt to fund its stimulus programs. That could drive up borrowing costs. So far though, auctions have been going relatively smoothly.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.46 percent from 3.51 percent late Monday.

The dollar gained against other major currencies. Gold prices rose.

In other trading, the Russell 2000 index of smaller companies fell 9.78, or 2 percent, to 484.25.

Overseas, Britain's FTSE 100 reversed early gains and fell 0.2 percent, Germany's DAX index lost 1.2 percent, and France's CAC-40 fell 1.1 percent. Japan's Nikkei stock average fell 0.3 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors can't shake their worries that the economy won't recover by the end of the year.

Stocks finished mostly lower after zigzagging for much of the day Wednesday. A mixed outlook on the economy from the International Monetary Fund and falling commodity prices added to the downbeat mood.

That tone could improve Thursday thanks to a narrower-than-expected loss from Alcoa Inc., which ushered in the second quarter earnings season after the closing bell Wednesday. The aluminum producer's shares rose 6 percent in after-hours trading.

*The NYSE DOW closed HIGHER +14.81 points +0.18% on Wednesday July 8*
Sym Last........ ........Change.......... 
Dow 8,178.41 +14.81 +0.18% 
Nasdaq 1,747.17 +1.00 +0.06% 
S&P 500 879.56 -1.47 -0.17% 
30-yr Bond 4.1640% -0.1440 

NYSE Volume 7,346,826,000  (prior day 5,544,895.000)
Nasdaq Volume 2,521,874,750 (prior day 2,072,804.38)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,140.23 -46.77 -1.12% 
DAX 4,572.65 -25.54 -0.56% 
CAC 40 3,009.71 -38.86 -1.27% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,420.75 -227.04 -2.35% 
Hang Seng 17,721.07 -141.20 -0.79% 
Straits Times 2,259.77 -12.49   

http://finance.yahoo.com/news/Anxiety-over-economic-apf-2382108574.html?x=0


*Anxiety over economic recovery weighs on stocks

Stocks fall amid mixed IMF report on economy, falling oil prices; Investors await earnings *
By Sara Lepro, AP Business Writer 
On Wednesday July 8, 2009, 6:34 pm EDT

NEW YORK (AP) -- Investors can't shake their worries that the economy won't recover by the end of the year.

Stocks finished mostly lower after zigzagging for much of the day Wednesday. A mixed outlook on the economy from the International Monetary Fund and falling commodity prices added to the downbeat mood.

That tone could improve Thursday thanks to a narrower-than-expected loss from Alcoa Inc., which ushered in the second quarter earnings season after the closing bell Wednesday. The aluminum producer's shares rose 6 percent in after-hours trading.

Traders also will also be watching retail sales figures coming out Thursday to see if slippage in consumer confidence translated into a weaker take at cash registers.

Another tumble in oil prices dragged energy shares lower on Wednesday and reflected concerns that demand for resources will remain weak as the economy struggles. More stocks fell than rose on the New York Stock Exchange, but major indicators ended mixed.

Stocks drew some support from a strong auction of 10-year Treasury notes. That helped allay one of the market's recent worries, that the government would have trouble finding enough buyers for the massive amount of debt it's issuing. Treasury's also benefited from safe-haven buying because of concerns about the economy.

After sending stocks soaring this spring on the belief that the economy was turning around, investors have put their buying on hold since mid-June as several pieces of disappointing economic data eroded the case for a quick recovery.

"There's nothing to get people to jump into the market," said Kurt Karl, chief U.S. economist at Swiss Re. "Nothing to get them excited."

The Dow Jones industrials rose 14.81, or 0.2 percent, to 8,178.41.

The broader Standard & Poor's 500 index fell 1.47, or 0.2 percent, to 879.56 and the Nasdaq composite index rose 1.00, or 0.1 percent, to 1,747.17. Both the Dow and S&P 500 hit levels not seen since May 1.

The market has already digested the most recent batch of economic news, including worse-than-expected reports on employment and manufacturing, and is becoming anxious ahead of second-quarter earnings season and the forecasts from companies that are sure to be the next big test for stocks.

Many analysts say a recovery is indeed on its way -- investors just need to be more realistic about its pace.

"At least for the first year of the expansion we're likely to see quite anemic growth," said Avery Shenfeld, chief economist at CIBC World Markets. "The message is to be patient. The broader rise in equities that we've seen since the spring will eventually prove to be warranted."

The IMF said Wednesday it expects the world economy to shrink by 1.4 percent in 2009, slightly worse than its earlier estimate of 1.3 percent. But it boosted its estimate for global economic growth in 2010 to 2.5 percent, up from its April projection of 1.9 percent.

Meanwhile, oil prices fell for a sixth straight day, dropping $2.79 to settle at $60.14 a barrel, tumbling sharply from an eight-month high of $73 in just one week.

The falling price of oil has contributed to selling on world exchanges over the past week. On Tuesday, the major U.S. indexes lost at least 2 percent, including the Dow, which fell 161 points.

Both the Dow and the S&P 500 have shed 7 percent since their recent highs on June 12. Though the weak volume that has marked trading in recent weeks shows little conviction behind the selling, analysts say the market is at risk for a further pullback if it doesn't soon get the good news it's looking for.

"This is a wave of realization," Karl said. "We were pretty excited there for awhile and things were just quite a bit ahead of the actual fundamentals of the economy."

Analysts note that investors have been shifting money out of industries they had sent sharply higher this spring, like financials and energy, and moving into more defensive areas like health care and consumer staples.

In other trading, the price of the benchmark 10-year Treasury note jumped about a point following the successful bond auction. That pushed its yield down sharply to 3.31 percent from 3.46 percent late Tuesday. That marks the lowest level for the 10-year yield since May 20.

Treasury yields have softened in recent weeks after spiking in early June to an eight-month high of 4.01 percent. The drop in long-term yields since then is good for consumers because yields are closely tied to interest rates on mortgages and other consumer loans.

The dollar mostly rose against other major currencies, while gold prices fell.

About two stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 5.9 billion shares compared with 4.6 billion Tuesday.

The Russell 2000 index of smaller companies fell 4.57, or 1 percent, to 479.68.

Overseas, Britain's FTSE 100 index fell 1.1 percent, Germany's DAX lost 0.6 percent and France's CAC-40 fell 1.3 percent. Japan's Nikkei stock average fell 2.4 percent.


----------



## roadtripping

Thanks for these updates BigDog.
Are you, - or anyone - aware of a free "live" Dow or S&P 500 site where real-time futures prices are quoted? 

e.g.    The local real-time SPI 200 I find helpful in this regard.
 (it's at ...  http://www.sfe.com.au/content/prices/rtp15sfAP.html )

cheers, Boo.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors are finding some appetite for risk after a jittery week

Stocks edged higher Thursday, with all the major indexes rising in the single digits. Investors encouraged by better-than-expected results from aluminum maker Alcoa Inc. put money into stocks they recently avoided: commodities producers, banks and industrial companies.

Money also moved into more economically sensitive industries such as technology and energy, which stand to gain more if a recovery takes hold. And it came out of defensive shares such as consumer staples and health care stocks -- a positive sign for a market that has been losing hope for a quick recovery


*The NYSE DOW closed HIGHER +4.76 points +0.06% on Thursday July 9*
Sym Last........ ........Change.......... 
Dow 8,183.17 +4.76 +0.06% 
Nasdaq 1,752.55 +5.38 +0.31% 
S&P 500 882.68 +3.12 +0.35% 
30-yr Bond 4.3180% +0.1540 

NYSE Volume 4,945,475,000  (prior day 7,346,826,000)
Nasdaq Volume 1,908,234,750  (prior day 2,521,874,750)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,158.66 +18.43 +0.45% 
DAX 4,630.07 +57.42 +1.26% 
CAC 40 3,025.94 +16.23 +0.54% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,291.06 -129.69 -1.38% 
Hang Seng 17,790.59 +69.52 +0.39% 
Straits Times 2,309.54 +49.77 +2.20% 

http://finance.yahoo.com/news/Gains-in-financials-apf-2614691722.html?x=0

*Gains in financials, technology stocks lift market

Stocks edge higher as investors' appetite for risk improves; financials, technology gain *
By Sara Lepro and Tim Paradis, AP Business Writers 
On Thursday July 9, 2009, 6:05 pm EDT

NEW YORK (AP) -- Investors are finding some appetite for risk after a jittery week

Stocks edged higher Thursday, with all the major indexes rising in the single digits. Investors encouraged by better-than-expected results from aluminum maker Alcoa Inc. put money into stocks they recently avoided: commodities producers, banks and industrial companies.

Money also moved into more economically sensitive industries such as technology and energy, which stand to gain more if a recovery takes hold. And it came out of defensive shares such as consumer staples and health care stocks -- a positive sign for a market that has been losing hope for a quick recovery

The gains were tempered by weak sales reports from retailers and evidence that the labor market is still hurting.

The Labor Department said the number of initial jobless benefits claims fell last week to 565,000 -- the lowest level since early January and better than what analysts were expecting. However some of the improvement was due to changes in the timing of auto industry layoffs and the holiday-shortened week, and the number of continuing claims unexpectedly jumped to a new high.

U.S. retailers did little to help the bull case for the economy, reporting generally weaker monthly sales, with apparel sellers taking some of the biggest hits.

Investors' selective buying Thursday was a sign they are hesitant to resume the ebullient rally that drove market indicators up as much as 40 percent during the spring. Stocks started to falter in mid-June as several grim economic reports suggested that a recovery was much further away than anticipated. Major market indexes are down about 7 percent since June 12.

Analysts expect the market will make little headway until investors have a clearer picture from companies of where the economy is headed. Second-quarter earnings reports are just starting, and will begin to come out in earnest next week.

"I don't see anything breathing yet," said Steven Stahler, president of The Stahler Group in Baton Rouge, La., of the economy. "We can drift sideways for a long time. There are so many loose ends and so many unknowns."

The Dow Jones industrial average rose 4.76, or 0.1 percent, to 8,183.17, the second day of modest gains after a 161-point drop on Tuesday. The blue chips crossed zero 108 times during trading.

The broader Standard & Poor's 500 index rose 3.12, or 0.4 percent, to 882.68, while the Nasdaq composite index gained 5.38, or 0.3 percent, to 1,752.55.

While investors are cautious, they're not showing any signs of trying to return the market to its 12-year lows reached in March. A widely followed indicator known as the fear index, the Chicago Board Options Exchange's Volatility Index, remained at relatively low levels. The VIX, as it's called, fell 4.9 percent to 29.78. It's down 25.6 percent in 2009 and its historical average is 18-20. It reached a record 89.5 in October at the height of the financial crisis.

Bond prices fell, sending their yields lower. An auction of $11 billion of 30-year bonds did little to move the market. The yield on the benchmark 10-year Treasury note, a widely used benchmark for mortgages and other loans, rose to 3.41 percent from 3.31 percent late Thursday.

About three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to 4.3 billion shares, compared with 5.9 billion Wednesday.

Oil prices rose after six days of selling. Crude rose 27 cents to settle at $60.41 a barrel on the New York Mercantile Exchange. A little over a week ago, crude prices stood at $73 a barrel. Falling oil had been pressuring markets around the world in recent days.

Alcoa fell 23 cents to $9.23. After trading ended Wednesday, the aluminum producer said it lost $454 million during the second quarter, but that was below Wall Street's expectations. Investors came away from reading Alcoa's report with the hope that companies had weathered the worst of the recession.

In other trading, the Russell 2000 index of smaller companies slipped 0.41, or 0.1 percent, to 479.27.

The dollar was mixed against other major currencies, while gold prices rose.

Overseas, Britain's FTSE 100 rose 0.5 percent, Germany's DAX index gained 1.3 percent, and France's CAC-40 added 0.5 percent. Japan's Nikkei stock average fell 1.4 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow fell 36.65, or 0.5 percent, to 8,146.52. It was the lowest close for the blue chips since April 28.

The broader S&P 500 index lost 3.55, or 0.4 percent, to 879.13, while the Nasdaq composite index rose 3.48, or 0.2 percent, to 1,756.03. A handful of upgrades to technology shares helped shore up the Nasdaq.

For the week, the Dow lost 1.6 percent, the S&P 500 index slid 1.9 percent and the Nasdaq lost 2.3 percent.

Investors seem to be running short on hope.

With little upbeat news ahead of a crush of corporate earnings reports next week, stocks on Friday hit their longest losing streak since the market's spring rally began in early March.

Unrelenting worries over the economy, driven by poor reports on unemployment, consumer confidence and falling commodity prices, have kept investors largely out of stocks since mid-June.

*The NYSE DOW closed LOWER -36.65 points -0.45% on Friday July 10*
Sym Last........ ........Change.......... 
Dow 8,146.52 -36.65 -0.45% 
Nasdaq 1,756.03 +3.48 +0.20% 
S&P 500 879.13 -3.55 -0.40% 
30-yr Bond 4.2010% -0.1170 

NYSE Volume 4,450,927,500  (prior day 4,945,475,000)
Nasdaq Volume 1,690,414,380  (prior day 1,908,234,750)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,127.17 -31.49 -0.76% 
DAX 4,576.31 -53.76 -1.16% 
CAC 40 2,983.10 -42.84 -1.42% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,287.28 -3.78 -0.04% 
Hang Seng 17,708.42 -82.17 -0.46% 
Straits Times 2,307.98 +0.37 +0.02% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks post 4th straight week of losses

Earnings jitters, slumping oil push stocks down, giving market its 4th straight week of losses *
By Sara Lepro, AP Business Writer 
On Friday July 10, 2009, 5:48 pm EDT

NEW YORK (AP) -- Investors seem to be running short on hope.

With little upbeat news ahead of a crush of corporate earnings reports next week, stocks on Friday hit their longest losing streak since the market's spring rally began in early March.

Unrelenting worries over the economy, driven by poor reports on unemployment, consumer confidence and falling commodity prices, have kept investors largely out of stocks since mid-June.

"Nobody's investing because there's no reason to invest," said Dawn Bennett, CEO of Bennett Financial Group.

Stocks zigzagged during the week, failing to hold what few gains they could muster. The Dow Jones industrials and the Standard & Poor's 500 index have now fallen four straight weeks.

Investors are on edge as the second-quarter earnings season heats up. Aluminum maker Alcoa Inc. unofficially kicked off the period with better-than-expected results on Wednesday, but a warning from Chevron Corp. late Thursday put investors back on the defensive. Alcoa and Chevron are among the 30 stocks that make up the Dow.

The pace of reports picks up speed next week with results coming in from heavy hitters such as Johnson & Johnson, JPMorgan Chase & Co., Google Inc. and General Electric Co.

Investors are looking to the reports, and especially the forecast companies give on the remainder of the year, for insight into where the economy is headed. Expectations are generally low as investors worry that they were too quick to expect a rebound in the economy when they began bidding stocks sharply higher in March. With little to fuel more gains, the rally has fizzled.

The Dow fell 36.65, or 0.5 percent, to 8,146.52. It was the lowest close for the blue chips since April 28.

The broader S&P 500 index lost 3.55, or 0.4 percent, to 879.13, while the Nasdaq composite index rose 3.48, or 0.2 percent, to 1,756.03. A handful of upgrades to technology shares helped shore up the Nasdaq.

For the week, the Dow lost 1.6 percent, the S&P 500 index slid 1.9 percent and the Nasdaq lost 2.3 percent.

Oil producers fell sharply Friday after Chevron said its refining margins fell in the second quarter and will send its results for the period much lower compared with last year.

In another blow to energy stocks, the price of crude oil resumed its descent Friday following a slight pop on Thursday, which had broken six straight days of losses. Investors see the plunge in oil prices as a weak indicator for the economy, which won't be as hungry for energy as long as the recession lingers.

A barrel of crude fell 52 cents to settle at $59.89 on the New York Mercantile Exchange. Oil has fallen sharply since hitting an eight-month high of $73 early last week.

Chevron shares fell $1.68, or 2.7 percent, to $61.40, while Exxon Mobil Corp. fell 85 cents, or 1.3 percent, to $65.12.

Investors have sent major indexes down about 7 percent since mid-June on the belief that a 40 percent run-up in stocks this spring was overdone considering the problems that still plague the economy such as rising unemployment.

"Job insecurity is crushing confidence in consumer spending," said John Skjervem, chief investment officer for Northern Trust's Personal Financial Services. "There is not a lot of good news to hang on to."

The market did get one piece of decent news on the economic front Friday as the Commerce Department said the U.S. trade deficit narrowed to $26 billion in May, the lowest level in more than nine years.

Small gains in technology shares buffered the market's losses. Some technology companies moved higher after Goldman Sachs upgraded its view on both hardware and software providers, noting signs of stabilization in the industry.

Citrix Systems Inc. gained 78 cents, or 2.5 percent, to $32.20. Yahoo Inc. shares rose more than 2 percent, adding 38 cents to $14.93, after an upgrade from Thomas Weisel.

Bond prices rose, sending their yields lower. The yield on the benchmark 10-year Treasury note, a widely used benchmark for consumer loans such as mortgages, fell to 3.30 percent from 3.41 percent late Thursday.

In other trading, the Russell 2000 index of smaller companies rose 1.71, or 0.4 percent, to 480.98.

Declining stocks narrowly outpaced those that rose on the New York Stock Exchange, where consolidated volume came to a relatively low 3.8 billion shares compared with 4.3 billion shares Thursday.

The dollar was mixed against other major currencies, while gold prices were down.

Overseas, Britain's FTSE 100 fell 0.8 percent, Germany's DAX index fell 1.2 percent and France's CAC-40 lost 1.4 percent. Japan's Nikkei stock average slipped less than 0.1 percent.

The Dow Jones industrial average closed the week down 134.22, or 1.6 percent, at 8,146.52. The Standard & Poor's 500 index fell 17.29, 1.9 percent, to 879.13. The Nasdaq composite index fell 40.49, or 2.3 percent, to 1,756.03.

The Russell 2000 index, which tracks the performance of small company stocks, fell 16.23, or 3.3 percent, for the week to 480.98.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 9,000.28, down 200.79, or 2.2 percent, for the week. A year ago, the index was at 12,746.27.

886


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

A change of heart by a usually downbeat analyst yanked the stock market from its slumber.

Soaring financial shares propelled indexes to their biggest one-day gain in six weeks Monday after influential banking analyst Meredith Whitney raised her rating on Goldman Sachs Group Inc., which reports earnings on Tuesday. Whitney also said on CNBC that hard-hit Bank of America Corp. looks inexpensive given the assets on its books.

The Dow Jones industrial average jumped 185 points in relatively thin trading volume. It was the best performance for the blue chips since June 1 and follows a month of often directionless trading in which investors looked for any fresh sign that the economy was improving, not simply licking its wounds.

*The NYSE DOW closed HIGHER +185.16  points +2.27% on Monday July 13*
Sym Last........ ........Change.......... 
Dow 8,331.68 +185.16 +2.27% 
Nasdaq 1,793.21 +37.18 +2.12% 
S&P 500 901.05 +21.92 +2.49% 
30-yr Bond 4.2330% +0.0320 

NYSE Volume 5,492,539,500  (prior day 4,450,927,500)
Nasdaq Volume 1,947,562,750  (prior day 1,690,414,380)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,202.13 +74.96 +1.82% 
CAX 4,722.34 +146.03 +3.19% 
CAC 40 3,052.08 +68.98 +2.31% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,050.33 -236.95 -2.55% 
Hang Seng 17,254.63 -453.79 -2.56% 
Straits Times 2,269.77 -38.21 -1.66% 

http://finance.yahoo.com/news/Financials-pull-stocks-higher-apf-1742403052.html?x=0

*Financials pull stocks higher ahead of earnings

Stocks surge ahead of earnings reports as analyst upgrades Goldman Sachs; Dow jumps 185 *
By Tim Paradis and Stephen Bernard, AP Business Writers 
On Monday July 13, 2009, 6:28 pm EDT 

NEW YORK (AP) -- A change of heart by a usually downbeat analyst yanked the stock market from its slumber.

Soaring financial shares propelled indexes to their biggest one-day gain in six weeks Monday after influential banking analyst Meredith Whitney raised her rating on Goldman Sachs Group Inc., which reports earnings on Tuesday. Whitney also said on CNBC that hard-hit Bank of America Corp. looks inexpensive given the assets on its books.

The Dow Jones industrial average jumped 185 points in relatively thin trading volume. It was the best performance for the blue chips since June 1 and follows a month of often directionless trading in which investors looked for any fresh sign that the economy was improving, not simply licking its wounds.

Investors latched on to Whitney's comments because she has for years offered one of the more pessimistic -- and accurate -- assessments of the banking business. While she remains cautious on banks overall, Whitney's newfound optimism on a few key players was enough to send financial shares sharply higher, including BofA, which gained 9.3 percent.

Traders saw the hopeful outlook on banks as a sign other industries could be in better shape than analysts had estimated. Hundreds of earnings reports from the April-June quarter are due this week. By the end of last week, major stock indicators had fallen 7 percent since mid-June as investors found little reason to push stocks higher and worried the rally had been overdone.

"The market basically took a big pause," said David Kelly, chief market strategist at JPMorgan Funds. He said stocks had drifted too far and were due for a bounce. "Any sign that a normal economy might get re-established should push the market higher."

Goldman Sachs has long been considered the strongest bank in the recession, but Bank of America has been one of the hardest hit by loan losses. Any improvement in banks' profits could shore up their financial position and free money for lending, which could have a positive ripple effect on other industries in need of financing.

Beyond Goldman, Bank of America, JPMorgan Chase & Co., and Citigroup Inc. are all scheduled to report second-quarter results this week. Banks have taken some of the biggest blows since the recession began in late 2007 as investment and loan losses mounted.

"There is a contingency of traders out there that believe the market can't recover without financials," said Randy Frederick, director of trading and derivatives at Charles Schwab.

The Dow rose 185.16, or 2.3 percent, to 8,331.68. All 30 stocks rose for the first time since March 23.

The Standard & Poor's 500 index jumped 21.92, or 2.5 percent, to 901.05, its first finish over the 900 mark since July 1. It was the S&P's best day since June 1.

The Nasdaq composite index rose 37.18, or 2.1 percent, to 1,793.21 and also posted its best performance since the start of June.

Among financial stocks, Goldman rose $7.57, or 5.3 percent, to $149.44 and Bank of America rose $1.11, or 9.3 percent, to $12.99.

The KBW Bank Index, which tracks 24 of the nation's largest banks, rose 6.5 percent.

The short-term buy call on Goldman from Whitney comes after the stock has risen 72 percent this year, but investors appeared to be looking past the fact that it had already had such a big advance.

Many analysts had been expecting the company would turn in strong profits for the second quarter. Goldman last month repaid the $10 billion it received last fall as part of the government's $700 billion bank bailout program.

The upswing in financial stocks did little to help CIT Group Inc. The commercial finance lender is struggling to get more help from the federal government and says it is talking with regulators about ways to improve its liquidity. The stock fell 18 cents, or 11.8 percent, to $1.35.

Earnings reports will give investors a chance to see whether there was any meaningful economic improvement during the second quarter. Reports are expected from major companies in a range of industries this week, including Johnson & Johnson, International Business Machines Corp., and General Electric Co. and technology bellwethers Intel Corp. and Google Inc.

The S&P 500 index had fallen for four straight weeks through last week after jumping 40 percent from a 12-year low in early March.

The gains in stocks cooled demand for the safety of government debt, hurting prices and lifting yields. The yield on the benchmark 10-year Treasury note jumped to 3.35 percent from 3.30 percent late Friday.

The dollar was mostly lower against other major currencies, while gold prices rose.

Light, sweet crude fell 20 cents to settle $59.69 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 12.33, or 2.6 percent, to 493.31.

Five stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 4.6 billion shares compared with 3.8 billion Friday.

Overseas, Britain's FTSE 100 rose 1.8 percent, Germany's DAX index gained 3.2 percent, and France's CAC-40 rose 2.3 percent. Japan's Nikkei stock average fell 2.6 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors got the results they wanted from Goldman Sachs, but the stock market's response was just a modest pop.

Mixed economic data Tuesday reminded investors of the challenges businesses still face and left the market zigzagging all day. Stocks gained on a handful of strong earnings, while Treasurys tumbled on news of a jump in inflation.

Investors were pleased that Goldman Sachs Group Inc.'s second-quarter earnings easily surpassed analysts' forecasts thanks to big gains in trading and underwriting. But the release of the results came as something of an anticlimax, as anticipation of a strong report sent the entire stock market soaring Monday.

*The NYSE DOW closed HIGHER +27.81 points +0.33% on Tuesday July 14*
Sym Last........ ........Change.......... 
Dow 8,359.49 +27.81 +0.33% 
Nasdaq 1,799.73 +6.52 +0.36% 
S&P 500 905.84 +4.79 +0.53% 
30-yr Bond 4.3490% +0.1160 

NYSE Volume 4,846,631,500  (prior day 5,492,539,500)
Nasdaq Volume 1,912,860,380  (prior day 1,947,562,750)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,237.68 +35.55 +0.85% 
DAX 4,781.69 +59.35 +1.26% 
CAC 40 3,081.87 +29.79 +0.98% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,261.81 +211.48 +2.34% 
Hang Seng 17,885.73 +631.10 +3.66% 
Straits Times 2,310.55 +43.91 +1.94% 

http://finance.yahoo.com/news/Goldman-Sachs-fails-to-excite-apf-879362838.html?x=0

*Goldman Sachs fails to excite market; Dow up 27

Stocks eke out gains following better results from Goldman and J&J, mixed economic data *
By Sara Lepro and Stephen Bernard, AP Business Writer 
On Tuesday July 14, 2009, 6:04 pm EDT 

NEW YORK (AP) -- Investors got the results they wanted from Goldman Sachs, but the stock market's response was just a modest pop.

Mixed economic data Tuesday reminded investors of the challenges businesses still face and left the market zigzagging all day. Stocks gained on a handful of strong earnings, while Treasurys tumbled on news of a jump in inflation.

Investors were pleased that Goldman Sachs Group Inc.'s second-quarter earnings easily surpassed analysts' forecasts thanks to big gains in trading and underwriting. But the release of the results came as something of an anticlimax, as anticipation of a strong report sent the entire stock market soaring Monday.

Johnson & Johnson also had better-than-expected results, although its profits fell 3.5 percent.

Stocks could get a boost Wednesday after Intel Corp. issued a strong profit report and better-than-expected forecast after the market closed Tuesday.

Even with strong earnings reports, however, signals about the economy remain mixed. Retail sales posted their largest gain in five months in June, but much of that increase came from higher gas prices. Prices for gas have fallen sharply since mid-June amid increasing concerns about energy demand, so the higher sales figures may not be sustainable.

Investors were also uneasy after a separate report showed wholesale prices rising far more than expected last month and the most since November 2007, due partly to higher energy costs. That sent Treasurys falling and their yields climbing.

The mix of earnings and economic reports over the next few weeks is likely to make for some difficult days on Wall Street. The stock market has already been drifting over the past month, having given up on a massive spring rally as troubling signs began to emerge on the economy including rising unemployment and waning consumer confidence. Unless companies start issuing promising outlooks for the second half of the year, it will be hard, if not impossible, for the market to resume that rally.

"We need a general consistent pattern of bullish news coming out to turn this market around," said Darin Newsom, senior analyst at DTN.

The Dow rose 27.81, or 0.3 percent, to 8,359.49. The Standard & Poor's 500 index rose 4.79, or 0.5 percent, to 905.84, while the Nasdaq composite index rose 6.52, or 0.4 percent, to 1,799.73.

The yield on the 10-year Treasury note jumped to 3.47 percent from 3.35 percent as its price fell nearly a point. Long-term government debt tends to be sensitive to reports of higher prices, as inflation erodes the value of fixed-income securities over time.

Investors sent stocks sharply higher on Monday, lifting the Dow 2.3 percent, after Meredith Whitney, a respected banking analyst, upgraded her view on Goldman. The shift stoked hopes that financial companies will show continued signs of improvement.

But Goldman's actual results had little impact as investors' focus quickly turned to the rest of the financial industry.

"Here we have a best-in-class sort of company reporting outstanding results," said Craig Peckham, an analyst with Jefferies & Co. "The earnings reports we get in the financial sector from here on out quite honestly are coming from companies that just don't have the same kind of cachet."

Goldman rose 22 cents to $149.66. Investors are also expecting reports from JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc. this week.

One troubling indication that the financial industry has not fully recovered: Commercial lender CIT Group Inc. is talking with the government about receiving emergency assistance to help solve liquidity problems. CIT rose 26 cents, or 19.3 percent, to $1.61 after tumbling 11.8 percent Monday.

There were mixed forecasts from several companies. Johnson & Johnson gained 51 cents to $58.23 after its report.

Dell Inc. warned that quarterly gross margins will fall below first-quarter levels due to higher component costs and pressure to keep prices low. The stock fell $1.05, or 8.1 percent, to $11.97.

Railroad operator CSX Corp. said it expects shipping demand to sink by double-digits again this quarter, but not as drastically as the 21 percent decline in the second quarter. The stock jumped $2.26, or 7 percent, to $34.80.

The dollar fell against other major currencies, while gold prices rose.

Oil slipped 17 cents to settle at $59.52 a barrel on the New York Mercantile Exchange.

In other trading, the Russell 2000 index of smaller companies rose 3.21, or 0.7 percent, to 496.52.

More than two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to a relatively low 4.2 billion shares, down from 4.6 billion Monday.

Overseas, Japan's Nikkei stock average gained 2.3 percent. Britain's FTSE 100 rose 0.9 percent, Germany's DAX index rose 1.3 percent, and France's CAC-40 gained 1.0 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The nation's big companies are giving investors a reason to restart Wall Street's spring rally.

Stocks surged Wednesday for the second time in three days, propelling all the major indexes up about 3 percent and the Dow Jones industrials up 257 points for their biggest one-day gain in nearly four months. An upbeat forecast from Intel Corp. and the Federal Reserve's more positive take on the economy built on momentum that began Monday when an analyst issued an optimistic forecast for Goldman Sachs Group Inc.

The news had investors believing again that the economy may not be as weak as many have feared. Wall Street had drifted lower over the past month, putting its big spring rally on hold as hopes for a quick recovery faded.


*The NYSE DOW closed HIGHER +256.72 points +3.07% on Wednesday July 15*
Sym Last........ ........Change.......... 
Dow 8,616.21 +256.72 +3.07% 
Nasdaq 1,862.90 +63.17 +3.51% 
S&P 500 932.68 +26.84 +2.96% 
30-yr Bond 4.4870% +0.1380 

NYSE Volume 6,294,528,500  (prior day 4,846,631,500)
Nasdaq Volume 2,594,267,750  (prior day 1,912,860,380)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,346.46 +108.78 +2.57% 
DAX 4,928.44 +146.75 +3.07% 
CAC 40 3,171.27 +89.40 +2.90% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,269.25 +7.44 +0.08% 
Hang Seng 18,258.66 +372.93 +2.09% 
Straits Times 2,378.62 +68.07 +2.95% 

http://finance.yahoo.com/news/Strong-results-at-Intel-pull-apf-345762644.html?x=0

*Strong results at Intel pull stocks sharply higher

Stocks surge as earnings and forecast at Intel boost hopes for economic rebound; Dow jumps 257 *
By Tim Paradis and Stephen Bernard, AP Business Writers 
On Wednesday July 15, 2009, 6:22 pm EDT 

NEW YORK (AP) -- The nation's big companies are giving investors a reason to restart Wall Street's spring rally.

Stocks surged Wednesday for the second time in three days, propelling all the major indexes up about 3 percent and the Dow Jones industrials up 257 points for their biggest one-day gain in nearly four months. An upbeat forecast from Intel Corp. and the Federal Reserve's more positive take on the economy built on momentum that began Monday when an analyst issued an optimistic forecast for Goldman Sachs Group Inc.

The news had investors believing again that the economy may not be as weak as many have feared. Wall Street had drifted lower over the past month, putting its big spring rally on hold as hopes for a quick recovery faded.

The latest encouragement came from Intel, the leading computer chip maker whose much better results suggested that computer sales -- and perhaps capital investment in general -- is picking up faster than had been expected. Intel's news followed not just the upgrade of Goldman but the bank's strong profit report on Tuesday.

Meanwhile, the day's economic data were more reassuring than some of the numbers the market had seen recently. The Federal Reserve said industrial companies cut production far less in June than they had in previous months, with output at the nation's factories, mines and utilities slipping just 0.4 percent last month after sliding 1.2 percent in May.

Traders found more good news when the Fed released minutes from its June meeting, saying it now expects the economy to contract at a slower pace than previously thought.

"What we're seeing is some confirmation that stabilization is in fact upon us," said Matthew Kaufler, portfolio manager at Federated Clover Investment Advisors in Rochester, N.Y. "At least right now investors are willing to say it's not going to be as bad as feared."

Still, it's very early in the reporting period for second-quarter earnings. With so many companies still to release their results and outlooks, the market could still retreat if investors don't like what they're hearing.

The Dow jumped 256.72, or 3.1 percent, to 8,616.21, its biggest gain since March 23. The Dow is up 5.8 percent in three days, its best run since a three-day period ended April 2. The Dow is now down only 163 points from where it closed on June 12, when stocks began to slide after their surge in March and April.

The Standard & Poor's 500 index rose 26.84, or 3 percent, to 932.68, while the technology-laden Nasdaq composite index gained 63.17, or 3.5 percent, to 1,862.90, responding to Intel's news. The Nasdaq has now advanced for six straight days, giving it a gain of 6.7 percent over that stretch.

Investors are showing again this week that economic data are important but corporate earnings and forecasts can be even more effective in galvanizing buyers.

Wednesday's gain in the Dow was the best percentage climb since April 9, when the blue chips jumped 3.1 percent as banker Wells Fargo & Co.'s early profit report topped expectations. For the S&P 500 index, Wednesday's jump was the biggest since a 3 percent rally on May 18 when a better-than-expected profit report from Lowe's Cos., the home-improvement chain, helped boost sentiment.

Robert B. MacIntosh, chief economist at Eaton Vance Management in Boston, remains cautious. He said investors had been bracing for weak earnings so it doesn't take much to beat expectations and that the excitement could mask trouble spots in the economy like unemployment.

"Real growth is when you start to create some jobs," he said. "People are going to be disappointed in the weakness and the length of the recovery."

Financial stocks jumped after American Express Co. and Capital One Financial Corp. said delinquency rates improved in June. That hinted that consumers weren't struggling as much as they had been.

Amex jumped $2.76, or 11.3 percent, to $27.22, while Capital One surged $2.73, or 11.8 percent, to $25.84.

The gains in stocks robbed Treasurys of some of their safe-haven appeal as investors became more willing to take on risk. The 10-year Treasury note, a widely used benchmark for mortgages and other loans, tumbled more than a point, pushing its yield up to 3.62 percent from 3.47 percent late Tuesday.

Investors will be watching other big banks -- JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc. -- reporting second-quarter results this week to see whether the industry is recovering.

Intel rose $1.22, or 7.3 percent, to $18.05.

The dollar fell, and prices for gold and other commodities rose. Light, sweet crude rose $2.02 to settle at $61.54 per barrel on the New York Mercantile Exchange.

Nine stocks rose for every one that fell on the New York Stock Exchange, where volume came to 5.5 billion shares, compared with 4.2 billion Tuesday.

The Russell 2000 index of smaller companies rose 18.22, or 3.7 percent, to 514.74.

Stocks also surged overseas following Intel's report. Britain's FTSE 100 jumped 2.6 percent, Germany's DAX index rose 3.1 percent, and France's CAC-40 gained 2.9 percent. Hong Kong's Hang Seng index gained 2.1 percent.


----------



## bigdog

Dow Jones industrial average futures are up 20, or 0.2 percent, at 8,563. Standard & Poor's 500 index futures are up 1.6, or 0.2 percent, at 928.80, while Nasdaq 100 index futures are up 0.50, or 0.03 percent, at 1,497.75.

I can only assume that DJ will be up tomorrow morning our time!!!!!

Europe is currently up today!!
FTSE 100 4,356.42 +9.96 +0.23% 
CAX 4,970.36 +41.92 +0.85% 
 CAC 40 3,210.05 +38.78 


http://finance.yahoo.com/news/Stock-futures-rise-on-strong-apf-219301282.html?x=0
*Stock futures rise on strong JPMorgan earnings

Stock futures move higher after JPMorgan Chase earnings easily beat expectations *
By Stephen Bernard, AP Business Writer 
On Thursday July 16, 2009, 6:49 am EDT 

 NEW YORK (AP) -- After a rally on better-than-expected earnings, investors are moving into the market again after JPMorgan Chase easily topped profit forecasts.

JPMorgan says its investment banking business spurred record revenue. JPMorgan's results come two days after Goldman Sachs' earnings also topped expectations.

The strong earnings from the banks has provided fuel to beliefs the economy is rebounding. However, not all financial firms are enjoying success.

Late Wednesday, CIT Group said negotiations with regulators about a possible rescue broke off.

Dow Jones industrial average futures are up 20, or 0.2 percent, at 8,563. Standard & Poor's 500 index futures are up 1.6, or 0.2 percent, at 928.80, while Nasdaq 100 index futures are up 0.50, or 0.03 percent, at 1,497.75.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors piled into technology stocks again to extend the market's rally.

Hope for more good earnings from technology leaders made the industry an attractive bet again Thursday, a day after a strong forecast from chip maker Intel Corp. lifted stocks across the board.

The tech-laden Nasdaq composite index advanced for the seventh straight day and closed at its highest level since October as traders prepared for profit reports from Internet search company Google Inc. and International Business Machines Corp. Both posted better-than-expected profits after the closing bell.

*The NYSE DOW closed HIGHER +95.61 points +1.11% on Thursday July 16*
Sym Last........ ........Change.......... 
Dow 8,711.82 +95.61 +1.11% 
Nasdaq 1,885.03 +22.13 +1.19% 
S&P 500 940.74 +8.06 +0.86% 
30-yr Bond 4.4460% -0.0410 

NYSE Volume 5,725,740,500  (prior day 6,294,528,500)
Nasdaq Volume 2,115,912,500  (prior day 2,594,267,750)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,361.84 +15.38 +0.35% 
DAX 4,957.19 +28.75 +0.58% 
CAC 40 3,199.68 +28.41 +0.90% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,344.16 +74.91 +0.81% 
Hang Seng 18,361.87 +103.21 +0.57% 
Straits Times 2,401.02 +11.60 +0.49% 

http://finance.yahoo.com/news/Gains...2.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Gains in tech stocks extend Wall Street's rally

Tech shares lift market as traders bet on Google, IBM; Financials lag on unease over CIT *
By Tim Paradis, AP Business Writer 
On Thursday July 16, 2009, 6:10 pm EDT 

NEW YORK (AP) -- Investors piled into technology stocks again to extend the market's rally.

Hope for more good earnings from technology leaders made the industry an attractive bet again Thursday, a day after a strong forecast from chip maker Intel Corp. lifted stocks across the board.

The tech-laden Nasdaq composite index advanced for the seventh straight day and closed at its highest level since October as traders prepared for profit reports from Internet search company Google Inc. and International Business Machines Corp. Both posted better-than-expected profits after the closing bell.

What appeared to be a turn in sentiment from economist and New York University professor Nouriel Roubini also helped lift the market. Reports said Roubini believed the worst of the economy's troubles had past, but in a statement after the close of trading he said his views are unchanged. He doesn't expect the economy to grow this year and still predicts the recession will end early next year.

Traders had welcomed what had appeared to be a turn in his sentiment because Roubini has been pessimistic about the economy and was one of the few experts to have predicted the global financial crisis.

Some analysts attributed the buying to short-covering, where investors have to buy stock after having earlier sold borrowed shares in a bet that the market would fall.

Stocks continued the week's sprint-and-jog play, carving more modest gains after surging the day before. The market surged Monday followed by a flatter day Tuesday.

"There's still concern about the market and concern about the overall economy," said Jon Biele, head of capital markets at Cowen & Co. "But the pessimism is moving to optimism. People certainly want to be in a position to gain from positive momentum."

The jump in stocks this week halted a monthlong slide that came as investors worried that a huge rally in March and April had gone too far as investors hoped for an economic recovery. This week's earnings reports have given investors some of the confirmation that the economy isn't as bad as feared, but they still want to see more evidence of a turnaround.

The Dow rose 95.61, or 1.1 percent, to 8,711.82, its highest close since June 12. The blue chips are now down only 0.7 percent for the year.

The Standard & Poor's 500 index rose 8.06, or 0.9 percent, to 940.74. The Nasdaq rose 22.13, or 1.2 percent, to 1,885.03, its best finish since Oct. 3.

Bond prices rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.58 percent from 3.62 percent late Wednesday.

Not all results were good. Nokia Corp., the world's largest cell phone maker, fell $2.22, or 14.2 percent, to $13.46 after its second-quarter earnings tumbled 66 percent and it scrapped targets to increase market share this year.

Most results have topped expectations. Reports are due Friday from General Electric Co., Bank of America Corp. and Citigroup Inc. that likely will set the day's tone.

"A lot of traders went into earnings with very low expectations and they are happy the world hasn't fallen apart and we're seeing solid results," said Anthony Conroy, managing director and head trader for BNY ConvergEx Group. "A lot of people that were short are starting to cover because of improved earnings that have come out."

Financial stocks lagged the rest of the market after small-business lender CIT Group Inc. said negotiations with federal regulators about a rescue broke off. Investors are worried the company could file for bankruptcy protection. CIT tumbled $1.23, or 75 percent, to 41 cents.

JPMorgan Chase & Co. reported big gains in its investment banking business, held back somewhat by loan losses. Its results come two days after Goldman Sachs Group Inc. also topped expectations with much stronger results in underwriting and trading. JPMorgan slipped 13 cents to $36.13.

Strong earnings from the banks have encouraged investors about the economy. The results also show that many of the nation's biggest banks are recovering from the collapse of credit markets last fall.

Google rose $4.43, or 1 percent, to $442.60, while IBM rose $3.42, or 3.2 percent, to $110.64. Google lost ground in electronic trading after reporting its results while IBM rose.

Investors also drew encouragement from a Labor Department report that new claims for unemployment insurance fell last week by 47,000 to 522,000, the lowest level since early January. Economists polled by Thomson Reuters predicted an increase to 575,000. The improved data, however, might have been affected by the timing of automobile plant shutdowns.

In other trading, the dollar was mixed against other currencies. Gold prices fell.

Benchmark crude rose 48 cents to settle at $62.02 a barrel on the New York Mercantile Exchange.

About two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 5 billion shares, down from 5.5 billion Wednesday.

The Russell 2000 index of smaller companies rose 6.38, or 1.2 percent, to 522.02.

Overseas, Britain's FTSE 100 rose 0.4 percent, Germany's DAX index rose 0.6 percent, and France's CAC-40 gained 0.9 percent. Japan's Nikkei stock average rose 0.8 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 597.42, or 7.3 percent, at 8,743.94. The Standard & Poor's 500 index rose 61.25, 7 percent, to 940.38. The Nasdaq composite index rose 130.58, or 7.4 percent, to 1,886.61.

The Russell 2000 index, which tracks the performance of small company stocks, rose 38.24, or 8 percent, for the week to 519.22.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 9,634.87, up 634.58, or 7.1 percent, for the week. A year ago, the index was at 12,850.50.

Investors are betting that the stock market has restarted its spring rally.

Stocks ended little changed Friday but held onto an enormous gain for the week. Investors are looking to another flood of corporate earnings reports next week to provide more signs that the economy is healing.

The Dow Jones industrials and the Standard & Poor's 500 index posted their best weekly performance since early March, when the market's spring rally began. Major stock indexes rose about 7 percent for the week.

*The NYSE DOW closed HIGHER +32.12 points +0.37% on Friday July 17*
Sym Last........ ........Change.......... 
Dow 8,743.94 +32.12 +0.37% 
Nasdaq 1,886.61 +1.58 +0.08% 
S&P 500 940.38 -0.36 -0.04% 
30-yr Bond 4.5290% +0.0830 

NYSE Volume 5,651,994,000  (prior day 5,725,740,500)
Nasdaq Volume 1,911,786,000  (prior day 2,115,912,500)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,388.75 +26.91 +0.62% 
DAX 4,978.40 +21.21 +0.43% 
CAC 40 3,218.46 +18.78 +0.59% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,395.32 +51.16 +0.55% 
Hang Seng 18,805.66 +443.79 +2.42% 
Straits Times 2,430.96 +29.94 +1.25% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks cap strong week with mixed finish

Stocks end flat as companies turn in mixed quarterly results; Dow rises for 5th straight day *
By Sara Lepro and Tim Paradis, AP Business Writers 
On Friday July 17, 2009, 6:17 pm EDT 

NEW YORK (AP) -- Investors are betting that the stock market has restarted its spring rally.

Stocks ended little changed Friday but held onto an enormous gain for the week. Investors are looking to another flood of corporate earnings reports next week to provide more signs that the economy is healing.

The Dow Jones industrials and the Standard & Poor's 500 index posted their best weekly performance since early March, when the market's spring rally began. Major stock indexes rose about 7 percent for the week.

"The earnings are better than expected and the economic news is not horrifically bad," said Jeff Buetow, managing partner at Innealta Portfolio Advisors. "I think people want the market to go up."

Solid results from Goldman Sachs Group Inc. and Intel Corp. spurred buying early in the week. But not all the results Friday were strong, so the market barely budged.

Bank of America Corp. and Citigroup Inc. became the latest banks to report big profits but also weakness in their loan portfolios. General Electric Co. beat earnings forecasts, but its revenue came up short.

"The important thing is these earnings results, while not all entirely positive, are beginning to show some signs of stabilization," said Tom Kersting, an analyst at Edward Jones.

The week's upward move has, at least for now, halted a slide that began in mid-June as investors worried the 40 percent jump in stocks this spring was overdone. Analysts said it was a healthy sign that the market was taking a breather on Friday.

"I think it's very constructive that we're taking a pause here and not heading back down," said Richard Sparks, senior equities analyst at Schaeffer's Investment Research.

Sparks said it's too early to say whether this week will be representative of the rest of earnings season. Next week's large batch of reports includes Dow components Caterpillar Inc., DuPont and Merck & Co.

The Dow Jones industrials rose 32.12, or 0.4 percent, to 8,743.94. The blue chips rose 7.3 percent for the week, the first weekly gain after a month of losses. It was the best percentage gain since the week ended March 13 and the 597-point jump was the biggest point gain since late November.

On Friday, the broader Standard & Poor's 500 index slipped 0.36, or less than 0.1 percent, to 940.38, while the Nasdaq composite index rose 1.58, or 0.1 percent, to 1,886.61.

The number of stocks that fell narrowly outpaced those that rose on the New York Stock Exchange, where consolidated trading volume came to 5 billion shares, flat with Thursday.

Financial stocks mostly fell, weighing on the broader market. Investors have been encouraged by strong profits from large banks, but there are still signs that the recession's grip hasn't eased as much as hoped, such as higher loan defaults.

BofA, which has struggled more than some of its peers from loan losses, beat Wall Street estimates just as Goldman Sachs and JPMorgan Chase & Co. did earlier in the week. However its profit fell from a year earlier as losses from delinquent loans continued to climb. BofA fell 28 cents, or 2.1 percent, to $12.89.

Citigroup, another troubled bank, surprised Wall Street with a $3 billion profit instead of the big loss analysts had expected, but results were boosted by the sale of a majority stake in its Smith Barney brokerage. Its shares fell a penny to $3.02.

One exception was CIT Group Inc., whose shares jumped 29 cents to 70 cents, on speculation that the troubled lender might be able to avoid bankruptcy. Its shares had tumbled 75 percent on Thursday after negotiations with federal regulators about a possible rescue fell through.

GE's shares dropped 6 percent after the conglomerate said its earnings fell 49 percent on losses at its financial unit and weakness in industrial businesses. The profits topped forecasts, but revenue came in $3 billion below estimates. The stock lost 75 cents to $11.65.

The reports followed mixed results from Google Inc. and IBM Corp. late Thursday.

Ken Kamen, president of Mercadien Asset Management in Hamilton, N.J., warned that investors' higher expectations could make it harder for the next batch of corporate results to impress investors.

"A lot of exuberance is being figured into the earnings coming out in the next couple of weeks," he said.

Homebuilders' shares climbed after an upbeat reading on the housing market. Construction of new homes and apartments jumped 3.6 percent in June to the highest level in seven months, beating economists' estimates. Building permits climbed 8.7 percent, also beating forecasts.

Shares of Hovnanian Enterprises Inc. rose 8 cents, or 3.3 percent, to $2.53, while DR Horton Inc. rose 26 cents, or 2.7 percent, to $9.90.

The market's moves were jagged this week, with modest gains coming after big surges. Influential banking analyst Meredith Whitney got the market off to a roaring start on Monday after raising her view on Goldman, stoking hopes that financial companies would show more signs of healing.

But the market's response to Goldman's actual report the following day was somewhat subdued amid mixed economic data. Strong earnings and an upbeat forecast from Intel pulled more investors into the market on Wednesday, and hope for more good earnings from the technology sector stirred buying again on Thursday.

Bond prices fell. The yield on the benchmark 10-year Treasury note rose to 3.65 percent from 3.58 percent late Thursday.

Oil prices rose $1.54 to settle at $63.56 a barrel. The dollar was mixed, while gold prices rose.

The Russell 2000 index of smaller companies fell 2.80, or 0.5 percent, to 519.22.

Overseas, Britain's FTSE 100 gained 0.6 percent, Germany's DAX index rose 0.4 percent, and France's CAC-40 added 0.6 percent. Japan's Nikkei stock average rose 0.6 percent.

The Dow Jones industrial average closed the week up 597.42, or 7.3 percent, at 8,743.94. The Standard & Poor's 500 index rose 61.25, 7 percent, to 940.38. The Nasdaq composite index rose 130.58, or 7.4 percent, to 1,886.61.

The Russell 2000 index, which tracks the performance of small company stocks, rose 38.24, or 8 percent, for the week to 519.22.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 9,634.87, up 634.58, or 7.1 percent, for the week. A year ago, the index was at 12,850.50.

218


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors are taking the numbers and running with them.

Stocks jumped again Monday, giving the Dow Jones industrials their sixth straight advance, as investors got more robust earnings news from big companies and data that suggests the economy is closer to a recovery. News that CIT had struck a financing deal that will keep the troubled commercial lender out of bankruptcy also drove the market higher.

A 100-point gain pushed the Dow back into the black for the year, while the Standard & Poor's 500 climbed to its highest finish since November.

*The NYSE DOW closed HIGHER +104.21 points +1.19% on Monday July 20*
Sym Last........ ........Change.......... 
Dow 8,848.15 +104.21 +1.19% 
Nasdaq 1,909.29 +22.68 +1.20% 
S&P 500 951.13 +10.75 +1.14% 
30-yr Bond 4.4660% -0.0630 

NYSE Volume 5,633,708,000  (prior day 5,651,994,000)Nasdaq Volume 2,076,208,880  (prior day 1,911,786,000)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,443.62 +54.87 +1.25% 
DAX 5,030.15 +51.75 +1.04% 
CAC 40 3,270.94 +52.48 +1.63% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,395.32 +51.16 +0.55% 
Hang Seng 19,502.37 +696.71 +3.70% 
Straits Times 2,456.15 +24.78 +1.02% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks rally anew on more signs of economic health

Wall Street extends rally as economic data, solid earnings lift investors' spirits *
By Sara Lepro and Tim Paradis, AP Business Writers 
On Monday July 20, 2009, 5:58 pm EDT 

NEW YORK (AP) -- Investors are taking the numbers and running with them.

Stocks jumped again Monday, giving the Dow Jones industrials their sixth straight advance, as investors got more robust earnings news from big companies and data that suggests the economy is closer to a recovery. News that CIT had struck a financing deal that will keep the troubled commercial lender out of bankruptcy also drove the market higher.

A 100-point gain pushed the Dow back into the black for the year, while the Standard & Poor's 500 climbed to its highest finish since November.

CIT Group Inc.'s deal with bondholders stoked the market's growing sense of optimism, which got a big boost last week from a string of good earnings news. The company's future was cast in doubt after negotiations with federal regulators for bailout funds fell through. Its failure would have been a blow to investor confidence and would have hurt industries like retailing, which has suppliers who rely on CIT for financing.

The market also got a stream of news that bolstered the argument that the economy is in fact heading for a recovery.

A surprisingly large rise in a predictor of future economic activity also supported stocks. The Conference Board's index of leading economic indicators rose 0.7 percent in June, more than the 0.4 percent forecast. It was the third straight month of gains.

Market indicators jumped about 7 percent last week following a monthlong slide driven by discouraging reports on the economy. Solid earnings and outlooks from leading companies including Goldman Sachs Group Inc., Intel Corp. and International Business Machines Corp. gave investors hope that the worst of the recession could be past.

An even busier week of earnings reports will further shape investors' view of the economy. Reports are due Tuesday from industrial equipment maker Caterpillar Inc. and drug maker Merck & Co.

Among the companies reporting Monday was toy maker Hasbro Inc., which beat the market's expectations and helped reassure investors somewhat about consumers' willingness to spend.

George F. Shipp, chief investment officer at Scott & Stringfellow in Virginia Beach, Va., said word that CIT might be able to sidestep bankruptcy gave investors another sign that the economy and the markets are healing because the government wasn't forced to intervene.

"The private sector is stepping in where the taxpayer didn't have to this particular time. That's the way it's supposed to work," he said.

The Dow rose 104.21, or 1.2 percent, to 8,848.15, its sixth straight advance, the longest set of gains since a seven-day rise in April 2007.

Wall Street's best-known index ended at its highest level since Jan. 6. The last time the Dow was this high stocks were just about to endure a steep drop that left the blue chips at a 12-year low on March 9.

The Dow is up 35 percent from its March low but still down 37.5 percent from its record of 14,164.53 in October 2007.

The S&P 500 index rose 10.75, or 1.1 percent, to 951.13, its best finish since Nov. 5. November's lows last year came after months of brutal selling as the financial crisis intensified in the fall with the collapse of Lehman Brothers. Investors had hoped the November lows would be the bottom of the market's retreat but stocks slid further by March.

The Nasdaq composite index rose 22.68, or 1.2 percent, to 1,909.29, its ninth straight advance. The index is at its highest mark since Oct. 3, during the most furious selling of the credit crisis.

Among the earnings news, Hasbro's profit rose 5 percent, beating expectations, as strong U.S. revenue offset international sales hurt by the stronger dollar. The stock gained 4.2 percent, rising $1.07 to $26.45.

Oilfield services company Halliburton Co. said its profit tumbled 48 percent amid sluggish exploration and production activity, but the results were better than analyst forecasts and its shares rose 95 cents, or 4.4 percent, to $22.33.

With the bulk of earnings reports still to come, the market has yet to hear from some key industries including retailing. If those results are disappointing, it could force investors to rethink their most recent rally. Several factors are still hanging over the market including record-high unemployment and a damaged housing market.

On Monday, though, the CIT news and optimism over better earnings reports stoked investors' appetite for risk. Investors moved out of safe-haven assets like U.S. Treasurys and the dollar, and into riskier bets like commodities. CIT jumped 55 cents, or 79 percent, to $1.25.

But some analysts said the market could have a hard time advancing, even with more welcome developments.

"The market itself has hit kind of a top here temporarily. People are already getting used to the earnings," said Matt Lloyd, chief investment strategist at Advisors Asset Management.

Oil prices rose 42 cents to settle at $63.98 a barrel. Gold rose, while the dollar was mixed.

Bond prices rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.60 percent from 3.66 percent late Friday.

Advancing stocks outnumbered those that fell by more than 3-to-1 on the New York Stock Exchange, where consolidated volume came to 4.9 billion shares compared with 5 billion traded Friday.

The Russell 2000 index of smaller companies rose 7.74, or 1.5 percent, to 526.96.

Overseas, Britain's FTSE 100 rose 1.3 percent, Germany's DAX index rose 1 percent, and France's CAC-40 gained 1.6 percent. Japanese financial markets were closed for a holiday.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The stock market managed to extend its weeklong rally even as it struggled with more worries about the banking industry.

Major market indexes seesawed through much of Tuesday's trading and ended with gains of less than 1 percent. Better-than-expected results from companies including Caterpillar Inc. spurred shares generally higher, although financial shares slid on reports of losses at several regional banks.

Investors also digested a mixed report from Federal Reserve Chairman Ben Bernanke, who restated the Fed's view that the economy is still on track to recover this year, but slowly. He also predicted rising unemployment.

*The NYSE DOW closed HIGHER +67.79 points +0.77% on Tuesday July 21*
Sym Last........ ........Change.......... 
Dow 8,915.94 +67.79 +0.77% 
Nasdaq 1,916.20 +6.91 +0.36% 
S&P 500 954.58 +3.45 +0.36% 
30-yr Bond 4.3730% -0.0930 

NYSE Volume 5,909,568,500  (prior day 5,633,708,000)
Nasdaq Volume 2,279,426,750  (prior day 2,076,208,880)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,481.17 +37.55 +0.85% 
DAX 5,093.97 +63.82 +1.27% 
CAC 40 3,302.89 +31.95 +0.98% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,652.02 +256.70	+2.73%
Hang Seng 19,501.73 -0.64	0.00%
Straits Times 2,454.33 -1.82 -0.07% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks extend weeklong rally as Cat lifts forecast

Stocks post modest gains after weeklong surge; Bernanke says economy is slowly improving *
By Sara Lepro and Tim Paradis, AP Business Writers 
On Tuesday July 21, 2009, 6:00 pm EDT 

NEW YORK (AP) -- The stock market managed to extend its weeklong rally even as it struggled with more worries about the banking industry.

Major market indexes seesawed through much of Tuesday's trading and ended with gains of less than 1 percent. Better-than-expected results from companies including Caterpillar Inc. spurred shares generally higher, although financial shares slid on reports of losses at several regional banks.

Investors also digested a mixed report from Federal Reserve Chairman Ben Bernanke, who restated the Fed's view that the economy is still on track to recover this year, but slowly. He also predicted rising unemployment.

Analysts said the market's more subdued tone was natural after stocks surged more than 8 percent since the start of last week.

Caterpillar joined other major companies in issuing an improved 2009 profit forecast. Second-quarter profits fell 66 percent but still came in ahead of expectations. Shares in the heavy equipment maker, considered a bellwether of the global economy, rose 7.7 percent.

Banks stumbled after Regions Financial Corp., Comerica Inc. and Zions Bancorp posted second-quarter losses that stirred worries about rising loan defaults, a persistent concern for banks as unemployment approaches 10 percent.

Technology shares could drive trading on Wednesday. Chipmaker Advanced Micro Devices Inc. slid in after-hours trading after posting a wider-than-expected loss after the bell, while Apple Inc. rose after reporting a 15 percent jump in profits.

Tech stocks have led the market's rally from 12-year lows in early March. The Nasdaq composite index is up 21.5 percent for the year, compared with 5.7 percent for the Standard & Poor's 500 index and 1.6 percent for the Dow Jones industrial average.

David Chalupnik, head of equities at First American Funds, said it could be harder for stocks to push higher because investors are becoming harder to impress. "Expectations are being ramped up," he said. "As earnings continue to come out better than expected you may not get that lift anymore."

The Dow rose 67.79, or 0.8 percent, to 8,915.94, its highest level since January. Seven straight advances have pushed the blue chips up 9.4 percent. The Dow on Monday erased its loss for the year with a 104-point gain Monday.

The S&P 500 index rose 3.45, or 0.4 percent, to 954.58, its highest close since November. The Nasdaq rose 6.91, or 0.4 percent, to 1,916.20, its 10th straight gain.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where volume came to 1.2 billion shares compared with 1.1 billion Monday.

Mike Binger, portfolio manager at Thrivent Investment Management, said stocks have been rising because company forecasts are signaling that the worst for the economy could be over.

"The sequential declines in revenue have stopped, which a lot of the companies are calling stabilization," he said.

Treasury investors saw Bernanke's remarks as reaffirming that the Fed would keep interest rates low for the time being -- which supports the value of bonds already in circulation. His assurance that inflation would remain at bay also helped lift the bond market.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.48 percent from 3.60 percent late Monday.

In Tuesday's trading, Caterpillar rose $2.81 to $39.46 and was the biggest gainer among the 30 stocks that make up the Dow. Drugmaker Merck & Co. also beat expectations, helping to send health care stocks broadly higher. Merck's own shares jumped $1.71 or 6.1 percent to $29.65.

Among financial companies, Regions Financial fell 62 cents, or 15.4 percent, to $3.42, Comerica slid $2.31, or 10.1 percent, to $20.51 and Zions fell $1.54, or 12.6 percent, to $10.68. Investors are worried that rising losses on loans will erode profits in the coming quarters.

Unease about small-business lender CIT Group Inc. flared up again after the company said a $3 billion loan from bondholders still might not be enough to cover a cash drain. The stock market had risen broadly on Monday on hopes the company would be able to avoid bankruptcy.

Banks are suffering more losses on loans because unemployment remains at a 26-year high of 9.5 percent and is expected to rise. And home prices in many markets are still falling, leaving homeowners and banks holding assets that are losing value.

The dollar was mixed against other major currencies, while gold prices fell.

Oil prices rose 74 cents to settle at $64.72 a barrel on the New York Mercantile Exchange.

In other trading, the Russell 2000 index of smaller companies fell 1.74, or 0.3 percent, to 525.22.

Overseas, Britain's FTSE 100 gained 0.9 percent, Germany's DAX index rose 1.3 percent, and France's CAC-40 rose 1 percent. Japan's Nikkei stock average jumped 2.7 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

It was a late night last night watching the Tour de France until 1:35 AM!!

Investors aren't giving up on the stock market's rally, but they're not making big bets either.

Stocks ended a quiet day mixed Wednesday as traders were hesitant to commit more money to the market after a weeklong surge. The Dow Jones industrial average and the Standard & Poor's 500 index slipped, while the Nasdaq composite index rose.

A mix of earnings reports drove trading. Apple Inc. and Starbucks Inc. jumped on their results, but chip maker Advanced Micro Devices Inc. and big bank Wells Fargo & Co. slid.

*The NYSE DOW closed LOWER  -34.68 points -0.39% on Wednesday July 22*
Sym Last........ ........Change.......... 
Dow 8,881.26 -34.68 -0.39% 
Nasdaq 1,926.38 +10.18 +0.53% 
S&P 500 954.07 -0.51 -0.05% 
30-yr Bond 4.4680% +0.0950 

NYSE Volume 5,424,887,000  (prior day 5,909,568,500)
Nasdaq Volume 2,382,058,500  (prior day 2,279,426,750)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,493.73 +12.56 +0.28% 
DAX 5,121.56 +27.59 +0.54% 
CAC 40 3,305.07 +2.18 +0.07% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,723.16 +71.14 +0.74% 
Hang Seng 19,248.17 -253.56 -1.30% 
Straits Times 2,450.83 -3.50 -0.14% 

http://finance.yahoo.com/news/Mixed...2.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Mixed earnings put brakes on stock market rally

Stocks end mixed after weeklong rally; Apple jumps but Advanced Micro, Wells Fargo disappoint *
By Tim Paradis, AP Business Writer 
On Wednesday July 22, 2009, 6:02 pm EDT 

NEW YORK (AP) -- Investors aren't giving up on the stock market's rally, but they're not making big bets either.

Stocks ended a quiet day mixed Wednesday as traders were hesitant to commit more money to the market after a weeklong surge. The Dow Jones industrial average and the Standard & Poor's 500 index slipped, while the Nasdaq composite index rose.

A mix of earnings reports drove trading. Apple Inc. and Starbucks Inc. jumped on their results, but chip maker Advanced Micro Devices Inc. and big bank Wells Fargo & Co. slid.

The market's incremental moves weren't surprising after strong earnings reports for the April-June quarter lifted major stock indicators up more than 8 percent in just seven days. The gains reignited a rally that ran from early March through mid-June before stalling as signs of improvement in the economy started to dry up.

Analysts say it's not surprising to see the market slow its climb as investors raise their expectations.

"As the earnings season goes on, it becomes more difficult because the bar goes higher and higher," said John Canally, economist at LPL Financial in Boston.

The Dow fell 34.68, or 0.4 percent, to 8,881.26. The broader S&P 500 index slipped 0.51, or 0.1 percent, to 954.07, and the Nasdaq rose 10.18, or 0.5 percent, to 1,926.38, helped by Apple and Starbucks. It was the 11th straight gain for the Nasdaq.

Major market indexes seesawed Wednesday as they had a day earlier. Stocks pushed higher Tuesday after Federal Reserve Chairman Ben Bernanke said the economy was recovering, though at a slow pace.

Earnings reports directed trading Wednesday. Apple rose $5.23, or 3.5 percent, to $156.74 after robust sales of laptops and iPhones pushed its profit and revenue above what analysts had expected.

Starbucks surged $2.70, or 18.4 percent, to $17.39 after the coffee chain shut stores, laid off workers and cut other costs to produce fiscal third-quarter results that topped expectations.

Advanced Micro Devices fell 53 cents, or 13 percent, to $3.55 after its second-quarter loss narrowed less than analysts expected.

Wells Fargo joined other banks in reporting that losses from bad loans kept rising although its second-quarter earnings rose 47 percent. The stock fell 90 cents, or 3.6 percent, to $24.45.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.55 percent from 3.48 percent late Tuesday.

The dollar was mixed, while gold prices rose.

Light, sweet crude fell 21 cents to settle at $65.40 a barrel on the New York Mercantile Exchange.

Advancing stocks outpaced those that fell by 4-to-3 on the New York Stock Exchange, where consolidated volume came to 4.7 billion shares compared with 5.2 billion Tuesday.

The Russell 2000 index of smaller companies rose 3.48, or 0.7 percent, to 528.70.

Overseas, Britain's FTSE 100 rose 0.3 percent, Germany's DAX index gained 0.5 percent, and France's CAC-40 added 0.1 percent. Japan's Nikkei stock average rose 0.7 percent.


----------



## bigdog

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stock futures push higher ahead of economic data

US stock futures point to higher open ahead of data on labor, housing markets, more earnings *
By Sara Lepro, AP Business Writer 
On Thursday July 23, 2009, 6:48 am EDT 

NEW YORK (AP) -- U.S. stock futures are pushing higher ahead of data on the labor and housing markets, as well as more earnings reports.

The slight pop in futures Thursday comes after gains in Asia and amid relatively flat markets in Europe.

Investors will be looking to the Labor Department's weekly report on jobless claims for more clues on the economy. Investors will also get a report on existing home sales.

Earnings from AT&T, United Parcel Service and McDonald's are expected.

*Ahead of the market's open, Dow Jones industrial average futures are up 21 to 8,854. Standard & Poor's 500 index futures are up 3 to 952, while Nasdaq 100 index futures are up 5 to 1,562.*


----------



## MrBurns

Wait til thsi kicks in - From Crikey - 



> The next big problem for US banks
> by Glenn Dyer
> Judging by their latest results, the next big problem for major US banks appears to be their interests in the commercial property sector: all $US6.7 trillion of it. This is while their problems with home mortgages, foreclosures and bad corporate loans show no sign of improving.
> 
> Some of America’s major banks, including Morgan Stanley, Well Fargo, Key Corp, Bank of New York Mellon, Regions Bank and US Bancorp have sent unwanted messages to American investors, markets and regulators that the commercial property sector is tanking quickly.
> 
> Money centre giants Morgan Stanley (which lost $US159 million in the second quarter overall) and Well Fargo (a $US3.17 billion profit) confirmed the mounting pressures on the US commercial property market when they reported large losses and surging bad loans in their second quarter reports.
> 
> US banks have already lost tens of billions of dollars in home mortgages and corporate loans (and been brought to their knees and saved by the US Government). Now poor quarterly figures for two of the largest lenders and investors in office, retail and industrial property across the US suggest that commercial real estate will be the next front in the financial crisis after the collapse of the housing market. And results from other banks support the notion of a commercial property implosion.
> 
> Shopping centres, office blocks and commercial industrial property are selling for huge discounts. General Growth, American’s second largest shopping centre operator is in bankruptcy and the John Hancock Building in Boston was earlier this year sold in a bankruptcy auction for $US660 million, half its purchase price three years ago.
> 
> Late last week, in a move little noticed by the markets, Macquarie CountryWide trust sold 75%% of its US holding of 86 retail properties for $US1.3 billion, or around 24% less than it had paid for them in 2005. Its exposure to the US has been cut from 70% to around 25% of its assets.
> 
> In recent events:
> 
> •Morgan Stanley reported a $US700 million cut on its $US17 billion commercial property portfolio in the second quarter.
> •Well Fargo saw its non-performing loans in commercial real estate soar 69%, from $US4.5 bullion to $US7.6 billion in the second quarter.
> •Regions Bank, a big regional institution based in the Alabama, saw a $US1.7 billion jump in new problem loans and a $US977 million, or 60% jump in non-performing loans in the second quarter.
> •Keycorp reported rising commercial real estate loan losses: it set aside 31% more in provisions for bad loans.
> •US Bancorp, based in Minneapolis, said profit fell 76% to $US221 million and its set aside and charge-off for bad loans more than doubled in the quarter.
> •SunTrust, based in Atlanta, had a second quarter loss of $US164.4 million, compared with a year-earlier profit of $US530 million and non- performing loans were $US5.5 billion of loans, or a worrying 4.48% of all loans.
> Earlier this month the Federal Reserve’s Associate Director of Banking Supervision and Regulation Jon Greenlee said, “…at the end of the first quarter [of 2009], about seven percent of commercial real estate loans on banks’ books were considered delinquent. This was almost double from the level a year earlier.”
> 
> Greenlee said there is about $US3.5 trillion of outstanding debt associated with commercial real estate, and banks had about $US1.8 trillion of that in their loan books. That means around $US126 billion of delinquent commercial mortgages on the banks’ books, so far. He said an additional $US900 billion represented collateral for securitised home loans through what’s called Collaterised Mortgage Backed Securities.
> 
> “The pace of property sales has slowed dramatically since peaking in 2007, from quarterly sales of roughly $195 billion to about $20 billion in the first quarter of 2009,” he said.
> 
> And on Tuesday, the softening commercial property market was a big focus of the questioning of Fed Chairman, Ben Bernanke in his Capitol Hill appearance.
> 
> Bernanke warned that a continued deterioration in commercial property, where prices have fallen by about 35% since the market’s peak and defaults have been rising sharply, would present a “difficult” challenge for the economy. He added that one of the main problems was that the market for securities backed by commercial mortgages had “completel shut down”, as it has for home mortgages.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors celebrated news of another jump in home sales by propelling the Dow Jones industrials to their first close above 9,000 since January.

The stock market's best-known indicator shot up almost 190 points Thursday to 9,069.29, its highest level since November, and all the big indexes gained more than 2 percent.

News that existing home sales rose in June for the third straight month and by a higher-than-expected amount led investors to extend a buying spree that has now lifted the Dow 923 points, or 11 percent, in just nine days. On paper, U.S. stocks have gained $1.2 trillion in value.

*The NYSE DOW closed HIGHER +188.03  points +2.12% on Thursday July 23*
Sym Last........ ........Change.......... 
Dow 9,069.29 +188.03 +2.12% 
Nasdaq 1,973.60 +47.22 +2.45% 
S&P 500 976.29 +22.22 +2.33% 
30-yr Bond 4.5990% +0.1310 

NYSE Volume 6,862,800,000  (prior day 5,424,887,000)
Nasdaq Volume 3,130,186,500  (prior day 2,382,058,500

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,559.80 +66.07 +1.47% 
DAX 5,247.28 +125.72 +2.45% 
CAC 40 3,373.72 +68.65 +2.08% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,792.94 +69.78 +0.72% 
Hang Seng 19,817.70 +569.53 +2.96% 
Straits Times 2,484.90 +34.07

http://finance.yahoo.com/news/Dow-tops-9000-as-home-sales-apf-2690003626.html?x=0

*Dow tops 9,000 as home sales rise for 3rd month

Stocks extend rally after jump in home sales; Dow climbs to highest level since November *
By Tim Paradis, AP Business Writers 
On Thursday July 23, 2009, 6:05 pm EDT 

NEW YORK (AP) -- Investors celebrated news of another jump in home sales by propelling the Dow Jones industrials to their first close above 9,000 since January.

The stock market's best-known indicator shot up almost 190 points Thursday to 9,069.29, its highest level since November, and all the big indexes gained more than 2 percent.

News that existing home sales rose in June for the third straight month and by a higher-than-expected amount led investors to extend a buying spree that has now lifted the Dow 923 points, or 11 percent, in just nine days. On paper, U.S. stocks have gained $1.2 trillion in value.

The week's economic news and upbeat earnings reports and forecasts from companies including chip maker Intel Corp. and heavy equipment maker Caterpillar Inc. convinced investors that the bets they've placed since March on a recovering economy were well-founded.

Still, the economy, and in turn, the market, are likely to face more quicksand pits in the months ahead. Many more companies, including retailers, who are a barometer of consumer spending, have yet to announce second-quarter earnings. And many of the corporations that have already released their reports said they made money because they had cut costs so deeply, something that they can't keep doing indefinitely.

There was already some troubling earnings news after trading ended Thursday. Microsoft Corp. missed analysts' expectations for revenue, sending its shares lower in extended trading. American Express Co. and Amazon.com also traded lower after releasing their earnings.

Another ongoing problem is the banking business. Banks are forecasting that they'll continue to suffer losses from loans as consumers keep getting laid off.

But some analysts don't believe investors are caving in to euphoria.

"I don't think the market is signaling that we are fully healed at all but it is telling us that there is a strong likelihood that a recovery is under way," said Ciaran O'Kelly, head of equities, Americas, at Nomura Securities Intl. Inc. in New York.

Analysts also caution that volume remains relatively light, as is typical of the summer months when many traders take vacations. It's easier for the market to make big swings when there are fewer trades.

The Dow rose 188.03, or 2.1 percent, to 9,069.29. It was the highest finish for the blue chips since Nov. 5 and the first time the Dow has traded or closed above 9,000 since January. Even with the gains, the Dow is still far off its peak of 14,165 in October 2007.

The Standard & Poor's 500 index rose 22.22, or 2.3 percent, to 976.29. It hasn't traded or closed above 1,000 since early November.

The Nasdaq composite index rose 47.22, or 2.5 percent, to 1,973.60, its 12th straight advance. The Nasdaq hasn't had a rally that long since a streak that ended Jan. 8, 1992.

About five stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 6 billion shares, compared with 4.7 billion Wednesday.

Bond prices tumbled, pushing their yields higher, as money flowed back into the stock market and out of safe-haven investments. The yield on the benchmark 10-year Treasury note, which is closely tied to home mortgage rates, jumped to 3.67 percent from 3.55 percent late Wednesday.

The Realtors said sales of previously occupied homes rose 3.6 percent in June. Sales came in at 4.89 million, above the 4.84 million analysts expected.

Dealmaking also supported stocks. Investors look to companies' willingness to make acquisitions -- and part with cash or take on debt -- as a sign of confidence.

In health care, Bristol-Myers Squibb Co. plans to acquire Medarex Inc. for about $2.1 billion. Medarex surged $7.49, or 89 percent, to $15.89, while Bristol-Myers rose 57 cents, or 2.8 percent, to $20.86.

Amazon.com Inc. agreed to buy Zappos.com Inc., a privately held online shoe store, in a deal worth about $850 million. Amazon rose $5.08, or 5.7 percent, to $93.87. It tumbled to $87.58 after its earnings were released.

Among the day's earnings news, Ford Motor Co. announced a profit that was a huge improvement over the record $8.7 billion loss it reported a year earlier. Without one-time gains, the car maker would have lost $424 million, or 21 cents per share. That is still smaller than the loss of 50 cents per share analysts had been expecting. Ford rose 60 cents, or 9.4 percent, to $6.98.

Microsoft, which rose 76 cents to $25.56 in regular trading, fell to $23.62 in after-hours activity. American Express traded at $28.05 in extended trading after rising 69 cents to $29.45 during the day.

Some analysts warn that stocks won't be able to hold their gains if companies can't increase earnings by boosting revenue rather than slashing costs.

"It's like going on a diet. You can only starve yourself for so long," said Lawrence Creatura, portfolio manager at Federated Investors in Rochester, N.Y. "You cannot cost cut your way to prosperity."

Creatura noted that companies are reducing costs in large part by getting rid of workers. That could wind up hurting other businesses as the ranks of unemployed people grow. Unemployment is at a 26-year high of 9.5 percent, and the Federal Reserve predicts it will top 10 percent by year-end.

The dollar mostly fell against other major currencies, while gold prices dipped.

Oil prices rose $1.76 to settle at $67.16 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies gained 17.15, or 3.2 percent, to 545.85.

The gains in U.S. stocks pushed markets overseas sharply higher. Britain's FTSE 100 rose 1.5 percent, while Germany's DAX index jumped 2.5 percent and France's CAC-40 rose 2.1 percent. In Japan, where markets closed before U.S. stocks began trading, the Nikkei stock average rose 0.7 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 349.30, or 4 percent, at 9,093.24. The Standard & Poor's 500 index rose 38.88, 4.1 percent, to 979.26. The Nasdaq composite index rose 79.35, or 4.2 percent, to 1,965.96.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 10,061.55, up 426.73, or 4.4 percent, for the week. A year ago, the index was at 12,770.96.

Optimists are back in control of the stock market, but they are cautious optimists.

Major stock indicators have climbed 11 percent in the past two weeks to their best levels since last fall as a series of upbeat earnings reports and forecasts boosted investors confidence about an economic recovery. Over the past 10 days, the Dow Jones industrial average jumped 947 points and broke through 9,000 for the first time since January.

On Friday, though, investors showed their conservative side, selling tech stocks and making mostly modest purchases of other shares following weak profit reports from Microsoft Corp. and Amazon.com Inc.

*The NYSE DOW closed HIGHER +23.95 points +0.26% on Friday July 24*
Sym Last........ ........Change.......... 
Dow 9,093.24 +23.95 +0.26% 
Nasdaq 1,965.96 -7.64 -0.39% 
S&P 500 979.26 +2.97 +0.30% 
30-yr Bond 4.5550% -0.0440 

NYSE Volume 4,954,171,000  (prior day 6,862,800,000)
Nasdaq Volume 2,261,059,000  (prior day 3,130,186,500)


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,576.61 +16.81 +0.37% 
DAX 5,229.36 -17.92 -0.34% 
CAC 40 3,366.45 -7.27 -0.22% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,944.55 +151.61 +1.55% 
Hang Seng 19,982.79 +165.09 +0.83% 
Straits Times 2,533.43 +48.53 +1.95% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks edge mostly higher; Microsoft drags Nasdaq

Stocks post modest gains after big jump; Nasdaq lags as Microsoft, Amazon tumble *
By Sara Lepro and Tim Paradis, AP Business Writers 
On Friday July 24, 2009, 6:27 pm EDT 

NEW YORK (AP) -- Optimists are back in control of the stock market, but they are cautious optimists.

Major stock indicators have climbed 11 percent in the past two weeks to their best levels since last fall as a series of upbeat earnings reports and forecasts boosted investors confidence about an economic recovery. Over the past 10 days, the Dow Jones industrial average jumped 947 points and broke through 9,000 for the first time since January.

On Friday, though, investors showed their conservative side, selling tech stocks and making mostly modest purchases of other shares following weak profit reports from Microsoft Corp. and Amazon.com Inc.

Still, the past two weeks have shown that investors believed there was enough justification from companies' reports for Wall Street to resume the rally that began in March but stalled in June. This week, heavy equipment maker Caterpillar Inc., manufacturing conglomerate 3M Co. and Ford Motor Co. turned in better-than-expected results or boosted their forecasts for the rest of the year.

The economy has also helped out. The stock market's biggest jump of the week came Thursday as the Dow gained 188 points on news of the third straight monthly gain in existing home sales in June.

The market's latest climb reflects a mix of forces. While earnings and economic news have fed the rally, some analysts link part of the buying to short-covering, where investors have to buy stock after having earlier sold borrowed shares in a bet that the market would fall. That rush to cover ill-timed bets can hasten the market's climb.

Analysts also say money managers are afraid of missing out on a continued rally.

"There is so much cash still on the sidelines," said David Darst, chief investment strategist at Morgan Stanley Smith Barney. "People missed it and they're beginning to worry that the train isn't going to come back for them."

On Friday, the Dow rose 23.95, or 0.3 percent, to 9,093.24, its highest finish since Nov. 5. The S&P 500 index rose 2.97, or 0.3 percent, to 979.26. It has risen 100 points in the two-week rally and is up 45 percent since it hit a 12-year low on March 9.

The Nasdaq fell 7.64, or 0.4 percent, to 1,965.96, taken down by the selling in tech stocks. The Nasdaq broke a 12-day winning streak, but it's still up 24.7 percent for the year, far outpacing gains in the Dow and S&P.

It's not just professional traders making all the moves. Individual investors also are withdrawing money from some safe corners of the market where the returns are low. In the week ended Tuesday, money market mutual fund investors pulled $3.99 billion from taxable funds, according to according to iMoneyNet Inc. This has been flowing into stock and bond funds.

Analysts say investors know that they still have a number of obstacles to contend with, including earnings reports from retailers that will provide more insight into the financial health of the consumer.

"It's healthy that there is fear and skepticism in the marketplace," said Jeffrey Frankel, president of Stuart Frankel & Co. "The more people are concerned and the more people are careful, the healthier the market will be. What gets us in trouble is when there is no fear."

For the week, the Dow rose 4 percent, the S&P 500 index added 4.1 percent and the Nasdaq rose 4.2 percent. Each of the indexes is up 11 percent in two weeks.

Investors will be bracing for another rush of data next week that could fuel or smother the rally. Quarterly results are due from big companies including Kellogg Co., ExxonMobil Corp. and Walt Disney Co. Economic snapshots include numbers on housing, consumer confidence and the economy's overall output.

Bond prices rose, pushing yields slightly lower. The yield on the benchmark 10-year Treasury note fell to 3.66 percent from 3.67 percent late Thursday.

Microsoft fell $2.11, or 8.3 percent, to $23.45 after company reported revenue that fell short of analysts' forecasts. Amazon.com also reported weaker-than-expected sales. It dropped $7.38, or 7.9 percent, to $86.49.

The dollar was mixed against other major currencies, while gold prices fell.

Oil rose 89 cents to settle at $68.05 a barrel.

About two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to a relatively low 4.4 billion shares, compared with 6 billion Thursday. Light volume can skew the market's moves.

The Russell 2000 index of smaller companies rose 2.61, or 0.5 percent, to 548.46.

Overseas, Britain's FTSE 100 rose 0.4 percent, Germany's DAX index fell 0.3 percent, and France's CAC-40 lost 0.2 percent. Japan's Nikkei stock average jumped 1.6 percent.

The Dow Jones industrial average closed the week up 349.30, or 4 percent, at 9,093.24. The Standard & Poor's 500 index rose 38.88, 4.1 percent, to 979.26. The Nasdaq composite index rose 79.35, or 4.2 percent, to 1,965.96.

The Russell 2000 index, which tracks the performance of small company stocks, rose 29.24, or 5.6 percent, for the week to 548.46.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 10,061.55, up 426.73, or 4.4 percent, for the week. A year ago, the index was at 12,770.96.

586


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors are still building on a stock market rally even when the news isn't all great.

Stocks edged higher Monday after zigzagging in subdued trading on mixed economic and corporate earnings reports.

The Dow Jones industrial average rose only 15 points. But modest moves in the market's indicators belie larger forces at work: Investors aren't dumping stocks, even in the face of downbeat news.


*The NYSE DOW closed HIGHER +15.27 points +0.17% on Monday July 27*
Sym Last........ ........Change.......... 
Dow 9,108.51 +15.27 +0.17% 
Nasdaq 1,967.89 +1.93 +0.10% 
S&P 500 982.18 +2.92 +0.30% 
30-yr Bond 4.6130% +0.0580 

NYSE Volume 5,268,113,000  (prior day 4,954,171,000)
Nasdaq Volume 2,159,757,500  (prior day 2,261,059,000)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,586.13 +9.52 +0.21% 
DAX 5,251.55 +22.19 +0.42% 
CAC 40 3,372.36 +5.91 +0.18% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,088.66 +144.11 +1.45% 
Hang Seng 20,251.62 +268.83 +1.35% 
Straits Times 2,576.66 +43.23 +1.71% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks edge higher on mixed signs about economy

Uneven earnings and economic news steer stocks, giving 2-week rally only modest gains *
By Tim Paradis, AP Business Writer 
On Monday July 27, 2009, 5:44 pm EDT 

NEW YORK (AP) -- Investors are still building on a stock market rally even when the news isn't all great.

Stocks edged higher Monday after zigzagging in subdued trading on mixed economic and corporate earnings reports.

The Dow Jones industrial average rose only 15 points. But modest moves in the market's indicators belie larger forces at work: Investors aren't dumping stocks, even in the face of downbeat news.

Disappointing earnings from Verizon Communications Inc., Aetna Inc. and Corning Inc. kept the market's gains in check, adding another pause to a powerful rally that has sent major indexes rocketing 11 percent in just two weeks.

RadioShack Corp. reported higher second-quarter earnings that beat forecasts, but mainly from cost-cutting -- a theme that has become familiar this earnings season and has left many investors disappointed.

Stocks are steady in part because many investors aren't retreating for fear of missing another rally. Even earlier this month, when a spring rally was still stalled, investors likely would have looked to the news out Monday as reason to sell.

On the plus side Monday, a government report showed new home sales posted the fastest increase in June in more than eight years as buyers jumped on reduced prices, low interest rates and a federal tax credit for first-time homeowners. That sent stocks of home builders surging.

Analysts said the market's modest overall moves were a good sign. Brian F. Reynolds, chief market strategist at WJB Capital Group, said investors were surprised by the strength of corporate earnings reports in the past two weeks.

"After a run of any direction stocks take a little break and people kind of catch their breath," Reynolds said. "I think that's especially true now because people were caught off guard. I think so many people were so bearish."

The Dow rose 15.27, or 0.2 percent, to 9,108.51, its first finish above the 9,100 mark since Nov. 5. The blue chips crossed zero 27 times during trading but spent almost the entire day with a loss. The Dow has been up 10 of the past 11 trading days.

The broader Standard & Poor's 500 index rose 2.92, or 0.3 percent, to 982.18, while the Nasdaq composite index rose 1.93, or 0.1 percent, to 1,967.89.

About two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 4.7 billion shares, compared with 4.4 billion Friday.

Bond prices fell, pushing yields higher, as a busy week of Treasury auctions got underway. The yield on the benchmark 10-year Treasury note rose to 3.73 percent from 3.66 percent late Friday.

In economic news, the Commerce Department said new home sales rose 11 percent in June to 384,000, beating analysts' estimates. The median price of $206,200 was down 12 percent from a year earlier and off nearly 6 percent from May. Last week, stocks got a lift from a better-than-expected rise in sales of existing homes.

Among companies posting results, Verizon's second-quarter earnings fell 21 percent. Cost reductions at the nation's largest wireless carrier failed to keep pace with falling revenue.

Aetna's profit skidded 28 percent on higher medical expenses in its commercial business, and the health insurer cut its profit forecast for the second time in two months. The stock fell 72 cents, or 2.7 percent, to $25.72.

Corning said its second-quarter earnings tumbled from results inflated by a big one-time gain a year ago. The stock fell 50 cents, or 2.9 percent, to $16.50.

RadioShack fell $1.06, or 6.6 percent, to $15 after cost-cutting drove profit growth and sales fell short of analysts' expectations.

Among homebuilders, Lennar Corp. rose 76 cents, or 6.8 percent, to $11.87 and Beazer Homes USA Inc. jumped 36 cents, or 13.9 percent, to $2.95.

Investors have been buying stocks as companies from AT&T Inc. to chip maker Intel Corp. post earnings that are stronger than analysts had predicted. However some analysts remain cautious because expectations have been low.

"Last week was dubbed as a good earnings week, but good compared to what?" asked David Hefty, CEO of Cornerstone Wealth Management in Auburn, Ind. "It doesn't take a lot to get the market excited these days."

The dollar was mixed against other major currencies, while gold prices rose.

Crude oil rose 33 cents to settle at $68.38 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 2.42, or 0.4 percent, to 550.88.

Overseas, Britain's FTSE 100 rose 0.2 percent, Germany's DAX index rose 0.4 percent, and France's CAC-40 rose 0.2 percent. Japan's Nikkei stock average rose 1.5 percent


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

An economic reality check is cooling the stock market's rally.

Stocks ended little changed Tuesday as a key barometer of consumer confidence and a handful of disappointing earnings reports reminded investors that an economic recovery this year is far from assured. The Dow slipped 12 points, while the Nasdaq composite index posted a small gain.

Trading was more erratic Tuesday than the past two days, however in all three days the major market indexes closed with only modest changes. Investors remain cautious but still aren't willing to give up on a rally that has propelled stocks up 11 percent in little more than two weeks.

*The NYSE DOW closed LOWER +15.27 points +0.17% on Tuesday July 28*
Sym Last........ ........Change.......... 
Dow 9,096.72 -11.79 -0.13% 
Nasdaq 1,975.51 +7.62 +0.39% 
S&P 500 979.62 -2.56 -0.26% 
30-yr Bond 4.5590% -0.0540 

NYSE Volume 6,101,261,000  (prior day 5,268,113,000)
Nasdaq Volume 2,235,673,750  (prior day  2,159,757,500)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,528.84 -57.29 -1.25% 
DAX 5,174.74 -76.81 -1.46% 
CAC 40 3,330.97 -41.39 -1.23% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei	10,087.26	-1.40	-0.01%
Hang	20,624.54	+372.92	+1.84%
Straits	2,624.04	+47.38	+1.84%


http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks end flat on mixed economic data, earnings

Stocks finish mixed as consumer confidence falls; Uneven earnings reports hold market back *
By Tim Paradis, AP Business Writer 
On Tuesday July 28, 2009, 5:51 pm EDT 

NEW YORK (AP) -- An economic reality check is cooling the stock market's rally.

Stocks ended little changed Tuesday as a key barometer of consumer confidence and a handful of disappointing earnings reports reminded investors that an economic recovery this year is far from assured. The Dow slipped 12 points, while the Nasdaq composite index posted a small gain.

Trading was more erratic Tuesday than the past two days, however in all three days the major market indexes closed with only modest changes. Investors remain cautious but still aren't willing to give up on a rally that has propelled stocks up 11 percent in little more than two weeks.

Stocks started to slip after the Conference Board reported that its consumer confidence index fell more than expected, fanning worries that bleak expectations among consumers and rising unemployment would hamper the economy's ability to rebound from the longest recession since World War II.

Meanwhile, corporate earnings reports, which beat meager expectations earlier this month, suggested that many consumers remain unwilling or unable to spend. Office Depot Inc. and handbag maker Coach Inc. both had trouble drawing in customers during the second quarter.

If consumers don't step up spending, companies will find it hard to chalk up the revenue gains they need to truly recover. The recent string of stronger corporate profits have come from deep cost-cutting, which can only lift earnings for so long.

The third upbeat reading on the housing market since last week and dealmaking in the technology industry helped temper the market's disappointment.

Even without the latest worries about consumers, analysts have been anticipating some pause in buying after this month's surge, which restarted a massive rally that began in March. The advance fizzled in mid-June on lackluster economic reports.

John Merrill, chief investment officer of Tanglewood Wealth Management in Houston, said some institutional investors are pouring money into stocks in an effort to keep pace with a 44.8 percent rally in the S&P 500 index since March 9 and not get left behind.

"That kind of gives a nice give-and-take with nobody motivated to strongly sell and nobody motivated to strongly buy," he said.

The Dow finished down 11.79, or 0.1 percent, to 9,096.72 after being down as much as 101 points. It was the blue chips' first loss after four days of gains and only the fifth down day of the month.

The broader Standard & Poor's 500 index fell 2.56, or 0.3 percent, to 979.62. The Nasdaq composite index rose 7.62, or 0.4 percent, to 1,975.51 after several technology companies announced acquisitions.

Falling stocks narrowly outpaced those that rose on the New York Stock Exchange, where consolidated volume came to 5.6 billion shares, compared with 4.7 billion Monday.

Bond prices were mixed after a Treasury Department auction of two-year notes generated lackluster demand. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.69 percent from 3.73 percent.

Investors are anxious about government debt auctions because weak demand could force Washington to entice buyers with higher interest rates. That could hurt an economic rebound by increasing borrowing costs for consumers.

Adam Gould, senior portfolio manager at Direxion Funds in New York, said the rally remains intact because investors are jumping in when stocks retreat. That helped pull stocks off their afternoon lows.

"There are lot of people that missed this rally," he said. "When it looks like it's not selling off anymore guys start rushing in."

Office Depot said consumers and small businesses continued to pare spending, especially on pricier items like furniture and computers. The office-supply chain tumbled 97 cents, or 18.1 percent, to $4.38.

Coach fell 38 cents to $28.05 after earnings dropped 32 percent.

Not all the news was downbeat. Textron Inc. jumped $1.96, or 17.6 percent, to $13.11 after the maker of Cessna planes and Bell helicopters posted a profit excluding charges. Analysts had expected a loss.

Investors welcomed dealmaking in the tech industry. IBM Corp. agreed to acquire software maker SPSS Inc. for $1.2 billion. SPSS jumped $14.36, or 40.9 percent, to $49.45, while IBM fell 35 cents to $117.28.

The dollar was mixed, and gold prices fell.

Light, sweet crude fell $1.15 to settle at $67.23 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 1.07, or 0.2 percent, to 551.95.

Overseas, Britain's FTSE 100 fell 1.3 percent, Germany's DAX index lost 1.5 percent, and France's CAC-40 slid 1.2 percent. Japan's Nikkei stock average slipped less than 0.1 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The stock market is holding up, just not pressing ahead as the economic signs look a little less promising.

Stocks had their fourth straight day of minimal moves Wednesday as commodity prices slid and orders for big-ticket manufactured goods fell, injecting more uncertainty into the market.

Investors are uneasy but aren't giving up on stocks. The Dow Jones industrials lost only 26 points on Wednesday and major indexes are still up about 11 percent since mid-July. Analysts say the market's buoyancy after such a big gain is a welcome sign of stability, but also that more good news is needed for stocks to resume their climb.

*The NYSE DOW closed LOWER -26.00 points -0.29% on Wednesday July 29*
Sym Last........ ........Change.......... 
Dow 9,070.72 -26.00 -0.29% 
Nasdaq 1,967.76 -7.75 -0.39% 
S&P 500 975.15 -4.47 -0.46% 
30-yr Bond 4.5030% -0.0560 

NYSE Volume 6,003,922,500  (prior day 6,101,261,000)
Nasdaq Volume 2,107,979,000  (prior day 2,235,673,750)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,547.53 +18.69 +0.41% 
DAX 5,270.32 +95.58 +1.85% 
CAC 40 3,365.62 +34.65 +1.04% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225		10,113.24	-25.98 	-0.26%
Hang Seng		20,135.50	 +489.04 	+2.37%
Straits Times		2,604.06	 +19.98 	+0.76%

http://finance.yahoo.com/news/Stocks-slip-as-fears-remain-apf-4239161946.html?x=0

*Stocks slip as fears remain about pace of recovery

Stocks fall on jitters about pace of recovery in economy; pause in rally extends to fourth day *
By Tim Paradis, AP Business Writer 
On Wednesday July 29, 2009, 5:57 pm EDT 

NEW YORK (AP) -- The stock market is holding up, just not pressing ahead as the economic signs look a little less promising.

Stocks had their fourth straight day of minimal moves Wednesday as commodity prices slid and orders for big-ticket manufactured goods fell, injecting more uncertainty into the market.

Investors are uneasy but aren't giving up on stocks. The Dow Jones industrials lost only 26 points on Wednesday and major indexes are still up about 11 percent since mid-July. Analysts say the market's buoyancy after such a big gain is a welcome sign of stability, but also that more good news is needed for stocks to resume their climb.

For now, though, investors are finding more reasons for concern. The price of oil and other commodities fell for a third day after stocks tumbled in China on fears that growth in that country would slow. That could hurt demand for a range of commodities.

The Commerce Department said orders to U.S. factories for manufactured goods -- those expected to last at least three years -- fell an unexpectedly steep 2.5 percent in June. The slide reflected troubles in the auto industry and a drop in demand for commercial aircraft. It was the largest drop in five months, and was worse than the 0.6 percent analysts expected.

Lackluster demand at a government debt auction for the second straight day fanned worries that rising interest rates could hobble a recovery. That boded poorly for a big auction of 7-year Treasury notes on Thursday.

Traders are facing an intense seven-day run of economic reports that will help shape views about how quickly the United States can pull out of the longest recession since World War II. On Thursday, weekly unemployment figures are due and a reading of gross domestic product for the April-June quarter comes on Friday. Next week, reports are expected on manufacturing, housing, employment and the service industry.

Manny Weintraub, president of Integre Advisors in New York, said some good numbers could bring out more buyers because investors are betting on what the economy will look like in the coming months, not what it looks like now.

"As long as things are getting better the market can go up," Weintraub said.

The Dow fell 26.00, or 0.3 percent, to 9,070.72. The Dow also fell Tuesday after a weak reading on consumer confidence. The two-day drop was the first for the Dow in more than a month. The average is on pace to record its best July in 20 years.

The broader Standard & Poor's 500 index fell 4.47, or 0.5 percent, to 975.15, while the Nasdaq composite index slid 7.75, or 0.4 percent, to 1,967.76.

Energy and materials stocks fell after China's benchmark Shanghai Composite Index dropped 5 percent on worries that authorities might try to keep the country's economy from growing too quickly. A slowdown in China's economy would erode demand for a range of resources.

Investors were also unnerved after U.S. crude inventories rose more than expected last week. The rise prompted worries that weakness in the economy was curbing demand for energy.

Occidental Petroleum Corp. fell $2.21, or 3.1 percent, to $69.48, while Schlumberger Ltd. fell $2.11, or 3.9 percent, to $52.49.

Light, sweet crude slid $3.88 to settle at $63.35 a barrel on the New York Mercantile Exchange.

Bond prices were mixed after a disappointing auction of five-year notes. That raised fears that Washington will have to offer investors higher returns on debt, which can drive up borrowing costs on consumer loans like mortgages. The yield on the benchmark 10-year Treasury, which moves opposite its price, fell to 3.67 percent from 3.69 percent late Tuesday.

Investors took some comfort from a Federal Reserve report that found the economy is seeing early signs of stabilizing in some parts of the country. That comes as traders have been cautious following the surge in stocks that began July 13 when corporate earnings reports started coming in stronger than expected.

In corporate news, Microsoft Corp. and Yahoo Inc. announced a 10-year deal that gives Microsoft access to the Internet's second-largest search engine audience. Microsoft rose 33 cents to $23.80, while Yahoo fell $2.08, or 12.1 percent, to $15.14.

Three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume came to 5.4 billion shares compared with 5.6 billion Tuesday.

The Russell 2000 index of smaller companies fell 3.57, or 0.7 percent, to 548.38.

The dollar was mixed against other major currencies, while gold prices fell.

Overseas, Britain's FTSE 100 rose 0.4 percent, Germany's DAX index rose 1.9 percent, and France's CAC-40 advanced 1 percent. Japan's Nikkei stock average rose 0.3 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Stocks rose on Thursday as solid corporate profit reports and a drop in the number of Americans on jobless benefits gave investors reasons to buy equities following the S&P 500's two days of losses.

The market's rally pushed the benchmark S&P 500 index earlier in the session to its highest intraday level in almost nine months, putting it less than 4 points away from the psychologically important 1,000 level. The Nasdaq briefly rose above 2,000 for the first time since October.

But shares lost ground at the close and finished off the day's highs.

DOW UP 8 PERCENT IN JULY

With just one day left in the month, the Dow is on track for its best monthly percentage gain since October 2002, while the S&P 500 and the Nasdaq probably will mark their fifth straight month of gains.

*The NYSE DOW closed HIGHER +83.74 points +0.92% on Thursday July 30*
Sym Last........ ........Change.......... 
Dow 9,154.46 +83.74 +0.92% 
Nasdaq 1,984.30 +16.54 +0.84% 
S&P 500 986.75 +11.60 +1.19% 
30-yr Bond 4.4500% -0.0530 

NYSE Volume 6,816,596,000  (prior day 6,003,922,500)
Nasdaq Volume 2,571,767,500  (prior day 2,107,979,000)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,631.61 +84.08 +1.85% 
DAX 5,360.66 +90.34 +1.71% 
CAC 40 3,435.49 +69.87 +2.08% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225		10,165.21	 +51.97 	+0.51%
Hang Seng		20,234.08	 +98.58 	+0.49%
Straits Times		2,636.19	 +32.13 	+1.23%

http://finance.yahoo.com/news/Wall-St-climbs-on-earnings-rb-2304877523.html?x=0&.v=15

*Wall St. climbs on earnings, but Disney off late*
On Thursday July 30, 2009, 5:51 pm EDT 
By Rodrigo Campos

NEW YORK (Reuters) - Stocks rose on Thursday as solid corporate profit reports and a drop in the number of Americans on jobless benefits gave investors reasons to buy equities following the S&P 500's two days of losses.

The market's rally pushed the benchmark S&P 500 index earlier in the session to its highest intraday level in almost nine months, putting it less than 4 points away from the psychologically important 1,000 level. The Nasdaq briefly rose above 2,000 for the first time since October.

But shares lost ground at the close and finished off the day's highs.

The stock market's advance was underpinned by strong demand for the Treasury Department's auction of a record $28 billion of 7-year notes. Strong bids on U.S. debt diminish the chance of a rise in borrowing costs.

The gains were broad-based, but a surge in commodity prices gave an extra boost to raw materials shares. The Reuters/Jefferies CRB index (^CRB - News), a gauge of 19 commodities' prices, rose 3.9 percent, its biggest daily percentage gain since mid-March. The S&P materials index (^GSPM - News) jumped 3 percent.

Companies reporting better-than-expected results on Thursday included MasterCard Inc (NYSE:MA - News), up 3 percent at $194.11, and industrial conglomerate Tyco International Ltd (NYSE:TYC - News), up 2.9 percent at $29.64.

Shares of Motorola Inc (NYSE:MOT - News) shot up 9.4 percent to $7.19 as the world's No. 3 cellphone maker behind Nokia and Samsung cut costs and shipped more phones than expected, and beat analysts' expectations.

"We are now in a market where the momentum is so strong that people typically say (it) is overbought," said Steve Goldman, market strategist at Weeden & Co in Greenwich, Connecticut.

"In actuality, it's the type of strength that leads to further gains, and pullbacks tend to be shallow."

The Dow Jones industrial average (DJI:^DJI - News) added 83.74 points, or 0.92 percent, to close at 9,154.46. The Standard & Poor's 500 Index (^SPX - News) rose 11.60 points, or 1.19 percent, to 986.75. The Nasdaq Composite Index (Nasdaq:^IXIC - News) gained 16.54 points, or 0.84 percent, to 1,984.30.

The S&P 500 is up 45.9 percent from the 12-year closing low of March 9, but it's still down 37.4 percent from its record high close in October 2007.

DOW UP 8 PERCENT IN JULY

With just one day left in the month, the Dow is on track for its best monthly percentage gain since October 2002, while the S&P 500 and the Nasdaq probably will mark their fifth straight month of gains.

At Thursday's close, the Dow was up 8.38 percent for the month of July so far, while the S&P 500 was up 7.34 percent and the Nasdaq was up 8.13 percent.

On the economic front, U.S. government data showed initial claims for state unemployment insurance benefits rose slightly above market expectations in the week ended July 25.

However, the four-week moving average for new claims, considered a better gauge of underlying trends as it smoothes out volatility, fell to its lowest level since January.

Shares of Dow component Walt Disney Co (NYSEIS - News) fell 2.75 percent to $25.50 in extended trade after the company posted a drop in profit in line with Wall Street's expectations, but revenue missed forecasts. (ID:nN30376974) Disney's stock had gained 1.3 percent during the regular session to close at $26.22 on the New York Stock Exchange.

DryShips Inc (NasdaqGSRYS - News) reported better-than-expected quarterly earnings, helped by a recent rise in spot charter rates and an increased contribution from its offshore drilling segment, sending its shares up 5.7 percent to $7.10 after the bell. In regular trading, the stock gained 2.9 percent to end at $6.72 on Nasdaq.

GE JUMPS, GOOGLE GAINS

Goldman Sachs upgraded General Electric (NYSE:GE - News) to "buy" because they believe it is less likely that GE will have to spin off its finance arm, GE Capital.

GE's stock shot up 6.9 percent to $13.11 on the New York Stock Exchange.

Among the Nasdaq's bellwethers, UBS initiated coverage of Internet companies Google Inc (NasdaqGS:GOOG - News) and Amazon.com Inc (NasdaqGS:AMZN - News) with "buy" ratings; shares of both companies rose slightly over 2 percent.

So far, 75 percent of the S&P 500 companies that have reported quarterly results have beaten expectations, according to Thomson Reuters data.

Volume was nearly average on the New York Stock Exchange, where about 1.36 billion shares changed hands, not far below last year's estimated daily average of 1.49 billion. But on the Nasdaq, about 2.56 billion shares traded, exceeding last year's daily average of 2.28 billion.

Advancers outnumbered decliners on the NYSE by a ratio of about 4 to 1, while on the Nasdaq, about nine stocks rose for every four that fell.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 78.37, or 0.9 percent, at 9,171.61. The Standard & Poor's 500 index rose 8.22, 0.8 percent, to 987.48. The Nasdaq composite index rose 12.54, or 0.6 percent, to 1,978.50.

The Russell 2000 index, which tracks the performance of small company stocks, rose 8.25, or 1.5 percent, for the week to 556.71.

New hope for the economy just gave the stock market its best July in 20 years.

Investors placed big bets over the last month that the profit machine at U.S. companies will continue to rev higher and that the longest recession since World War II is finally easing its grip. If that turns out to be wrong, the huge gains of July mean there will be an even bigger price to pay if companies don't deliver.

The Dow surged 725 points or 8.6 percent for the month, with most of the gains arriving in bursts in the final 15 days. The extraordinary run shaped July into the best month for the blue chips since October 2002 and the best July since 1989. The Dow has risen four of the past five months.

*The NYSE DOW closed HIGHER +17.15 points +0.19%  on Friday July 31*
Sym Last........ ........Change.......... 
Dow 9,171.61 +17.15 +0.19% 
Nasdaq 1,978.50 -5.80 -0.29% 
S&P 500 987.48 +0.73 +0.07% 
30-yr Bond 4.31% -0.14 

NYSE Volume 6,220,784,500  (prior day 6,816,596,000)
Nasdaq Volume 2,297,522,000  (prior day 2,571,767,500)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,608.36 -23.25 -0.50% 
DAX 5,332.14 -28.52 -0.53% 
CAC 40 3,426.27 -9.22 -0.27% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,356.83 +191.62 +1.89% 
Hang Seng 20,573.33 +339.25 +1.68% 
Straits Times 2,659.20 +23.01 +0.87% 

http://finance.yahoo.com/news/Profi...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Profit reports push Dow to best July in 20 years

Stocks cap an enormous July run with a mixed finish as economy shrinks at a slower pace *
By Tim Paradis, AP Business Writer 
On Friday July 31, 2009, 9:42 pm EDT 

NEW YORK (AP) -- New hope for the economy just gave the stock market its best July in 20 years.

Investors placed big bets over the last month that the profit machine at U.S. companies will continue to rev higher and that the longest recession since World War II is finally easing its grip. If that turns out to be wrong, the huge gains of July mean there will be an even bigger price to pay if companies don't deliver.

The Dow surged 725 points or 8.6 percent for the month, with most of the gains arriving in bursts in the final 15 days. The extraordinary run shaped July into the best month for the blue chips since October 2002 and the best July since 1989. The Dow has risen four of the past five months.

The broader Standard & Poor's 500 index, a benchmark for many mutual funds, also ran at a strong pace and July was its best performance since 1997. Even with the gains, the S&P is still down 37 percent from its peak in October 2007.

The companies that fared best in July were those that signaled they were patching up their businesses after a terrible winter and fall. Caterpillar Inc.'s earnings for the April-June quarter fell but the company raised its profit forecast for the year. Its stock surged 33.4 percent for the month.

Earnings reports that fueled the rally often contained a few dark spots, and many companies have been increasing their bottom line by taking a knife to costs. Eventually they will have to bring in more revenue because trimming costs can't increase profits forever.

Stu Schweitzer, global markets strategist at J.P. Morgan's Private Bank in New York, said the lower expenses means companies will be better positioned to reap big earnings when the economy does grow and revenue starts to tick higher.

Economic reports are starting to support traders' bets. The government reported Friday that the economy shrank at a pace of just 1 percent in the second quarter, better than analysts anticipated. In the first three months of the year, the economy shrank at a pace of 6.4 percent, the steepest slide in nearly 30 years.

Despite the improving outlook, the economy still faces significant hurdles. Analysts worry that difficulty for consumers in borrowing, unemployment and a still-weak housing market will choke off growth. Key reports next week on manufacturing, housing, employment and the service industry could also reshape the market's view about where the economy is headed.

"I don't think this is a one-way staircase back up to where we came from. I fully expect potholes along the way," Schweitzer said.

On Friday, the Dow rose a modest 17.15, or 0.2 percent, to 9,171.61. The S&P 500 index rose 0.73, or 0.1 percent, to 987.48, while the Nasdaq composite slipped 5.80, or 0.3 percent, to 1,978.50.

For now, companies aren't hemorrhaging money like they were last fall and early this year. Traders began the latest rally July 13 when they rushed to buy stocks ahead of a strong profit report from Goldman Sachs Group Inc. The bank's profit turned out to be huge, and strong report cards since then from companies like AT&T Inc. and microchip producer Intel Corp. confirmed that a range of companies were finding their footing.

Three of four companies in the S&P 500 index have reported results that topped analysts' expectations, according to Thomson Reuters. About 300 of the 500 companies have turned in their reports.

That unexpected bounty has pushed major market indexes to their best levels of the year. On July 23, the Dow rose above 9,000 for the first time since January. The rally pushed the Dow back into the black for the year and it is now up 4.5 percent.

The Nasdaq traded above 2,000 and the S&P 500 index neared the 1,000 mark, a level not seen since November.

"We're on the edge between recovery and speculation," said Rick Lake, portfolio manager of Aston/Lake Partners LASSO Alternatives Fund in Greenwich, Conn.

Lake said the market's ability to bounce higher in July even after getting bad news signals that many investors are looking to jump on the rally.

Major stock indexes surged off 12-year lows in early March to rally almost 40 percent by mid-June before stumbling until July's earnings reports restored hopes for a rebound in the economy.

Investors have been putting money into areas that are expected to do well in a recovery. Materials companies in the S&P 500 index rose an average 12 percent for the month. Aluminum maker Alcoa Inc. jumped 13.8 percent.

By comparison, energy company stocks rose only 3.6 percent. Oil posted its first monthly drop since January as stockpiles remain high. Exxon Mobil Corp. edged up only 0.7 percent.

Analysts credit some of the buying to short-covering, in which investors have to buy stock after having earlier sold borrowed shares in a bet they would fall. That can make doubts into short-term buyers and give an artificial lift to stocks.

Investors still have plenty to worry about. The GDP report found that consumers cut spending by 1.2 percent in the second quarter, after a 0.6 percent increase in the first quarter.

The unemployment rate stands at a 26-year high of 9.5 percent, and the Federal Reserve predicts it will top 10 percent by the end of the year.

Unemployment often recovers after the economy starts to but hesitant consumers could make it harder for the economy to grow. In downturns over the past 60 years, the S&P 500 index has hit bottom an average of four months before a recession ended and about nine months before unemployment hit its peak.

In other trading Friday, bond prices rose. The yield on the benchmark 10-year Treasury note fell to 3.48 percent from 3.61 percent late Thursday.

Crude rose $2.51 to settle at $69.45 a barrel.

Three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to 5.5 billion shares compared with 6.1 billion Thursday.

The Russell 2000 index slipped 1.09, or 0.2 percent, to 556.71.

The Dow Jones industrial average closed the week up 78.37, or 0.9 percent, at 9,171.61. The Standard & Poor's 500 index rose 8.22, 0.8 percent, to 987.48. The Nasdaq composite index rose 12.54, or 0.6 percent, to 1,978.50.

The Russell 2000 index, which tracks the performance of small company stocks, rose 8.25, or 1.5 percent, for the week to 556.71.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 10,147.02, up 85.47, or 0.9 percent, for the week. A year ago, the index was at 12,946.89.

998


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Standard & Poor's 500 index is four digits again now that the stock market's rally has blown into August.

The widely followed stock market measure broke above 1,000 on Monday for the first time in nine months as reports on manufacturing, construction and banking sent investors more signals that the economy is gathering strength. The S&P is used as a benchmark by professional investors, and it's also the foundation for mutual funds in many individual 401(k) accounts.

Wall Street's big indexes all rose more than 1 percent, including the Dow Jones industrial average, which climbed 115 points.

*The NYSE DOW closed HIGHER +114.95  points +1.25% on Monday August 3*
Sym Last........ ........Change.......... 
Dow 9,286.56 +114.95 +1.25% 
Nasdaq 2,008.61 +30.11 +1.52% 
S&P 500 1,002.63 +15.15 +1.53% 
30-yr Bond 4.4220% +0.1110 

NYSE Volume 6,270,111,500  (prior day 6,220,784,500)
Nasdaq Volume 2,198,343,000  (prior day 2,297,522,000)


NYSE Volume 6,220,784,500 (prior day 6,816,596,000)
Nasdaq Volume 2,297,522,000 (prior day 2,571,767,500)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,682.46 +74.10 +1.61% 
DAX 5,426.85 +94.71 +1.78% 
CAC 40 3,477.80 +51.53 +1.50% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225		10,352.47	-4.36 	-0.04%
Hang Seng		20,807.26	 +233.93 	+1.14%
Straits Times		2,681.64	 +22.44 	+0.84%

http://finance.yahoo.com/news/US-fu...&ccode=&sec=topStories&pos=main&asset=&ccode=

*Sign of stock market healing: S&P 500 above 1,000

In sign of strength, S&P 500 breaks past 1,000 as Wall Street rally blows into August *
By Sara Lepro and Tim Paradis, AP Business Writers 
On Monday August 3, 2009, 6:02 pm EDT 

NEW YORK (AP) -- The Standard & Poor's 500 index is four digits again now that the stock market's rally has blown into August.

The widely followed stock market measure broke above 1,000 on Monday for the first time in nine months as reports on manufacturing, construction and banking sent investors more signals that the economy is gathering strength. The S&P is used as a benchmark by professional investors, and it's also the foundation for mutual funds in many individual 401(k) accounts.

Wall Street's big indexes all rose more than 1 percent, including the Dow Jones industrial average, which climbed 115 points.

The market extended its summer rally on the type of news that might have seemed unthinkable when stocks cratered to 12-year lows in early March. A trade group predicted U.S. manufacturing activity will grow next month, the government said construction spending rose in June and Ford Motor Co. said its sales rose last month for the first time in nearly two years.

"The market is beginning to smell economic recovery," said Howard Ward, portfolio manager of GAMCO Growth Fund. "It may be too early to declare victory, but we are well on our way."

The day's reports were the latest indications that the recession that began in December 2007 could be retreating. Better corporate earnings reports and economic data propelled the Dow Jones industrial average 725 points in July to its best month in nearly seven years and restarted spring rally that had stalled in June.

On Monday, a report from the Institute for Supply Management, a trade group of purchasing executives, signaled U.S. manufacturing activity should increase next month for the first time since January 2008 as industrial companies restock shelves. Also, the Commerce Department said construction spending rose rather than fell in June as analysts had expected. The reports and rising commodity prices lifted energy and material stocks.

Ford said sales of light vehicles rose 1.6 percent in July. Other major automakers said they saw signs of stability in sales. Investors predicted that the government's popular cash for clunkers program would boost overall auto sales to their highest level of the year.

Reports from European banks eased concerns about the effect that the credit crisis and recession have had on the global banking system.

Despite the promising economic signs, major indexes are still down 35 percent from their peak in October 2007. But investors' confidence -- or, for some, fear of missing a rally that has pulled stocks up 14 percent in only 16 days -- is keeping buyers in the market.

"It would take a lot to derail the emerging optimism," said Lawrence Creatura, portfolio manager at Federated Clover Investment Advisors.

Major stock indicators pushed to fresh highs for the year. The Dow rose for the third day, advancing 114.95, or 1.3 percent, to 9,286.56.

The S&P 500 index rose 15.15, or 1.5 percent, to 1,002.63, its first move above 1,000 since Nov. 4. The index first closed above that mark in February 1998 and is up 48.2 percent since its recent low on March 9.

The Nasdaq composite index rose 30.11, or 1.5 percent, to 2,008.61, its first close above 2,000 since October.

Confident investors dumped safe-haven assets like Treasurys and the U.S. dollar. The yield on the 10-year Treasury note surged to 3.64 percent from 3.48 percent late Friday as its price fell more than a point.

The dollar fell to its lowest points since last fall against the euro, pound and other currencies.

The ISM's manufacturing report fanned hopes for a hard-hit industry. The group said manufacturing activity slowed in July at the slowest pace in nearly a year.

"We're past the worst of it on the manufacturing side, and we could even be getting back to growth by the third quarter of this year," said Jill Evans, co-portfolio manager, Alpine Dynamic Dividend Fund.

Among banks, Barclays PLC said its first-half net profit increased 10 percent. HSBC Holdings PLC reported a 57 percent drop in its first-half profit, but results were better than anticipated.

Earnings reports have shown that companies aren't losing money at the rapid pace they were last fall and earlier this year. Though there are concerns that the aggressive cost-cutting measures businesses have undertaken to boost profits are not sustainable, forecasts in recent weeks from companies like Intel Corp. and Caterpillar Inc. suggest business conditions are improving.

Investors are keeping watch on unemployment and consumer spending, as well as rising interest rates that could imperil the economy's recovery.

In other trading, news that manufacturing in China and Europe is expanding pushed commodity prices higher. Copper prices, which have nearly doubled this year thanks in large part to unrelenting demand from China, hit a 10-month high.

Light, sweet crude soared $2.13 to settle at $71.58 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 9.07, or 1.6 percent, to 565.78.

Five stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 5.7 billion shares, compared with 5.5 billion Friday.

Overseas, Britain's FTSE 100 jumped 1.6 percent, Germany's DAX index rose 1.8 percent, and France's CAC-40 rose 1.5 percent. Japan's Nikkei stock average slipped less than 0.1 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Having sprinted higher for three weeks, the stock market is taking a break.

Investors made few big moves Tuesday after stocks rocketed 14 percent in just 16 days. The market closed with modest gains as many traders held their positions and looked toward the Labor Department's employment report on Friday.

The Dow Jones industrial average rose 34 points. On Monday, the blue chips jumped 115 points and the Standard & Poor's 500 index nosed above 1,000 for the first time in nine months.

*The NYSE DOW closed HIGHER +33.63 points +0.36% on Tueday August 4*
Sym Last........ ........Change.......... 
Dow 9,320.19 +33.63 +0.36% 
Nasdaq 2,011.31 +2.70 +0.13% 
S&P 500 1,005.65 +3.02 +0.30% 
30-yr Bond 4.4640% +0.0420 

NYSE Volume 6,518,679,500  (prior day 6,220,784,500)
Nasdaq Volume 2,290,920,000  (prior day 2,297,522,000)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,671.37 -11.09 -0.24% 
DAX 5,417.02 -9.83 -0.18% 
CAC 40 3,476.37 -1.43 -0.04% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225		10,375.01	 +22.54 	+0.22%
Hang Seng 20,796.43 -10.83 -0.05% 
Straits Times 2,648.76 -32.88 -1.23% 

http://finance.yahoo.com/news/Inves...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Investors nudge rally forward with small gains

Stocks post modest rise as traders take a break from heavy buying; Dow rises 34 points *
By Sara Lepro and Tim Paradis, AP Business Writer 
On Tuesday August 4, 2009, 5:20 pm EDT 

NEW YORK (AP) -- Having sprinted higher for three weeks, the stock market is taking a break.

Investors made few big moves Tuesday after stocks rocketed 14 percent in just 16 days. The market closed with modest gains as many traders held their positions and looked toward the Labor Department's employment report on Friday.

The Dow Jones industrial average rose 34 points. On Monday, the blue chips jumped 115 points and the Standard & Poor's 500 index nosed above 1,000 for the first time in nine months.

Tuesday's mostly upbeat economic reports helped prevent the market's pause from turning into the type of slide that can follow big jumps. Analysts have been predicting stocks would idle after such a strong run, and some saw investor caution at work.

"There is a lot of concern that the market has moved too far too fast and that we've gotten ahead of the economy," said Brian Bush, director of equity research at Stephens Inc.

But the Commerce Department's report of an increase in consumer spending and the National Association of Realtors' report of a rise in pending home sales provided evidence that the economy could be stabilizing. And Caterpillar Inc. predicted that cost cuts and other efforts will enable it to turn profits in the coming years even if the economy is slow to recover. Traders follow the world's largest maker of construction and mining equipment for signals about the overall economy.

The Dow rose 33.63, or 0.4 percent, to 9,320.19. The S&P 500 index rose 3.02, or 0.3 percent, to 1,005.65, while the Nasdaq composite index rose 2.70, or 0.1 percent, to 2,011.31. The gains left stocks at new highs for the year.

Stocks jumped more than 1 percent Monday on upbeat reports on manufacturing, housing and banking.

The advance adds to the Dow's July gain of 8.6 percent that injected a stalled spring rally with new energy. The Dow is still down 34 percent from its peak in October 2007.

Traders are likely to grow a little more anxious as they await the Labor Department's report for July. Unemployment stands at a 26-year high of 9.5 percent and is expected to eventually top 10 percent. Investors are looking for the pace of layoffs to slow so the economy can heal.

"The second half of the week is going to be heavily dominated by the employment data," said John Canally, economist at LPL Financial. "That is keeping markets hesitant."

Some analysts predict stocks will continue to climb as investors use dips to put money into the market. Recent corporate earnings reports and economic data have indicated that the nearly two-year-long recession could be ending.

The Commerce Department said Tuesday that consumer spending rose 0.4 percent in June. But personal incomes dropped by 1.3 percent, the steepest slide in four years.

Meanwhile, the Realtors said pending home sales for a fifth straight month in June.

Bond prices fell, pushing the yield on the benchmark 10-year Treasury note up to 3.69 percent from 3.64 percent late Monday.

The dollar was mixed, while gold prices rose.

Oil prices shed 59 cents to $70.99 a barrel on the New York Mercantile Exchange.

Three stocks rose for every two that fell on the New York Stock Exchange. Volume totaled 1.2 billion shares, essentially flat with Monday.

The Russell 2000 index of smaller companies rose 4.96, or 0.9 percent, to 570.74.

Overseas, Britain's FTSE 100 and Germany's DAX index both lost 0.2 percent, and France's CAC-40 slipped 0.04 percent. Japan's Nikkei stock average rose 0.2 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The closer investors get to the government's July employment report, the more cautious they become.

Stocks slipped Wednesday as investors shied away from big moves ahead of the government's monthly reading on job losses and the unemployment rate, which comes out before the start of trading on Friday. The pullback, which took the Dow Jones industrials down 39 points, followed a 34-point gain Tuesday that was a slowdown from the previous day's triple-digit advance.

The big concern on Wall Street is layoffs, and whether companies trying to preserve their profits during the recession are continuing to slash jobs at a furious pace. Job cuts have to slow for the economy to have a solid recovery.

*The NYSE DOW closed LOWER -39.22 points -0.42% on Wednesday August 5*
Sym Last........ ........Change.......... 
Dow 9,280.97 -39.22 -0.42% 
Nasdaq 1,993.05 -18.26 -0.91% 
S&P 500 1,002.72 -2.93 -0.29% 
30-yr Bond 4.56% +0.10 

NYSE Volume 8,507,798,000  (prior day 6,518,679,500
Nasdaq Volume 2,412,204,000  (prior day 2,290,920,000)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,647.13 -24.24 -0.52% 
DAX 5,353.01 -64.01 -1.18% 
CAC 40 3,458.53 -17.84 -0.51% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225		10,252.53	-122.48 	-1.18%
Hang Seng		20,494.77	-301.66 	-1.45%
Straits Times		2,606.83	-41.93 	-1.58%

http://finance.yahoo.com/news/US-st...V0c2w-?x=0&sec=topStories&pos=7&asset=&ccode=

*Weak economic data puts stock market rally on hold

Wall Street rally goes on hold after report of weakening business at service companies *
By Sara Lepro and Tim Paradis, AP Business Writers 
On Wednesday August 5, 2009, 5:49 pm EDT 

NEW YORK (AP) -- The closer investors get to the government's July employment report, the more cautious they become.

Stocks slipped Wednesday as investors shied away from big moves ahead of the government's monthly reading on job losses and the unemployment rate, which comes out before the start of trading on Friday. The pullback, which took the Dow Jones industrials down 39 points, followed a 34-point gain Tuesday that was a slowdown from the previous day's triple-digit advance.

The big concern on Wall Street is layoffs, and whether companies trying to preserve their profits during the recession are continuing to slash jobs at a furious pace. Job cuts have to slow for the economy to have a solid recovery.

The caution in Wednesday's trading followed a disappointing report on the service industry. The Institute for Supply Management said its service index, a measure of the health of retail, financial services, transportation and health care companies, fell to 46.4 in July from 47 in June. It was the 10th straight monthly slide.

Still, there are plenty of signs of strength on Wall Street, and one is the fact that Wednesday's very modest loss was the biggest point drop in the Dow since July 7. Investors have been looking for the market to pause after it started to shoot higher in mid-July. But stocks' occasional dips have been mild because some investors who missed the rally are looking to buy when prices dip.

The ISM report gave investors an excuse to cash in gains after the furious buying of the past month. The Dow is still up 13.9 percent in just 18 days.

"The market has just had a pretty good advance and is looking for a reason for a pullback," said Henry Herrmann, CEO of investment management firm Waddell & Reed.

The Dow fell 39.22, or 0.4 percent, to 9,280.97. The broader Standard & Poor's 500 index fell 2.93, or 0.3 percent, to 1,002.72, while the Nasdaq composite index fell 18.26, or 0.9 percent, to 1,993.05.

Treasury prices fell after the government said it would auction $75 billion in notes next week. Some investors are worried that the government will have to entice buyers by offering greater returns. That would drive up interest rates and could make it harder for the economy to recover.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.75 percent from 3.69 percent late Tuesday.

Analysts said the drop in stocks was welcome because building on gains in a step-like fashion is more sustainable than a surge without breaks.

"It would only be natural to hesitate here as it tries to make up its mind as to what the next move will be," said Michael Sheldon, chief market strategist at RDM Financial.

The jobs report could reshape ideas about when the economy might recover. Economists expect it will show the jobless rate rose to 9.6 percent as employers cut 320,000 jobs last month, better than the 467,000 lost in June.

A private-sector report on unemployment offered little encouragement. The ADP National Employment Report, a closely watched precursor to the Labor Department's report, said employment fell by 371,000 in July -- slightly more than anticipated -- following a revised loss of 463,000 jobs in June.

In better economic news, the Commerce Department said factory orders rose in June for the fourth time in five months. The 0.4 percent rise came after a 1.1 percent increase in May. Economists had been expecting a drop of 1 percent.

In other trading, the dollar was mixed against other major currencies and gold fell.

Light, sweet crude rose 55 cents to settle at $71.97 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies fell 4.75, or 0.8 percent, to 565.99.

Falling stocks outnumbered those that rose 8-to-7 on the New York Mercantile Exchange, where consolidated volume came to 7.7 billion shares, compared with 5.8 billion Tuesday.

Overseas markets slid. Britain's FTSE 100 fell 0.5 percent, Germany's DAX index lost 1.2 percent, and France's CAC-40 shed 0.5 percent. Japan's Nikkei stock average ended down 1.2 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors shuffled through the final day of trading before the government's July employment report.

The Dow Jones industrial average lost 25 points and other major indexes suffered moderate slides Thursday as worries about the Labor Department's report dominated trading for a third day. A stream of disappointing July sales numbers from major retailers added to Wall Street's uneasy mood.

A recovery in the job market is crucial to the economy's ability to pull itself from the longest recession since World War II. Unemployment often keeps rising after a recovery begins, but investors need to see the pace of job losses slowing before they'll continue the rally that began in March.

*The NYSE DOW closed LOWER -24.71 points -0.27% on Thursday August 6*
Sym Last........ ........Change.......... 
Dow 9,256.26 -24.71 -0.27% 
Nasdaq 1,973.16 -19.89 -1.00% 
S&P 500 997.08 -5.64 -0.56% 
30-yr Bond 4.5170% -0.0440 

NYSE Volume 7,699,912,500  (prior day 8,507,798,000)
Nasdaq Volume 2,447,590,750  (prior day 2,412,204,000)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,690.53 +43.40 +0.93% 
DAX 5,369.98 +16.97 +0.32% 
CAC 40 3,477.83 +19.30 +0.56% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225		10,388.09	 +135.56 	+1.32%
Hang Seng		20,899.24	 +404.47 	+1.97%
Straits Times		2,601.50	-5.33 	-0.20%

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks slip after jobless claims report

Stocks fall slightly despite better-than-expected weekly jobless claims report *
By Sara Lepro and Tim Paradis, AP Business Writers 
On Thursday August 6, 2009, 5:41 pm EDT 

NEW YORK (AP) -- Investors shuffled through the final day of trading before the government's July employment report.

The Dow Jones industrial average lost 25 points and other major indexes suffered moderate slides Thursday as worries about the Labor Department's report dominated trading for a third day. A stream of disappointing July sales numbers from major retailers added to Wall Street's uneasy mood.

A recovery in the job market is crucial to the economy's ability to pull itself from the longest recession since World War II. Unemployment often keeps rising after a recovery begins, but investors need to see the pace of job losses slowing before they'll continue the rally that began in March.

Even with the worries about jobs, the market's slowdown this week isn't surprising. Analysts have been calling for a time-out because the Dow has surged 13.6 percent in just four weeks on hopes the economy is strengthening.

Still, without some improvement in prospects for employment, investors are likely to get more of the disappointing reports that retailers delivered Thursday. Many of the nation's biggest chains posted disappointing sales for July as consumers spent gingerly because of worries about jobs.

"The consumer isn't dead, but he's injured," said Stephen Wood, chief market strategist at Russell Investments.

A weekly unemployment report offered investors only some encouragement ahead of Friday's numbers. The government said new claims for unemployment benefits fell to 550,000 last week, from a revised 588,000 the previous week. Economists had been looking for 580,000 new claims.

There also was sobering news: The number of people continuing to claim benefits rose by 69,000 to 6.3 million after dropping for three straight weeks.

The weekly jobs figures and the retailers' reports have investors concerned that consumers don't feel confident enough to give the economy a strong recovery. Consumer spending accounts for more than two-thirds of U.S. economic activity.

Analysts expect the number of job losses for July to slow to 320,000 from 467,000 in June, according to Thomson Reuters. The jobless rate is expected to tick up to 9.6 percent from 9.5 percent. The report is due at 8:30 a.m. Eastern.

Ahead of the numbers, the Dow fell 24.71, or 0.3 percent, to 9,256.26. The Standard & Poor's 500 index lost 5.64, or 0.6 percent, to 997.08, its first finish below 1,000 since Friday. The Nasdaq composite index fell 19.89, or 1 percent, to 1,973.16.

About three stocks fell for every two that rose on the New York Stock Exchange where consolidated volume came to 6.8 billion shares compared with 7.7 billion traded Wednesday.

Despite the growing caution in the market, analysts have been encouraged by the orderliness of the pullback, noting that stocks have shown strength in their ability to hold on to most of their gains rather than selling off sharply.

"We're not seeing panic selling," said Bill Groeneveld, president and head trader for vFinance Investments. "We always like to see some reassessment of where we're at."

A modest drop in stocks on Wednesday followed minimal gains on Tuesday. Those moves came after a surge on Monday that nudged the S&P 500 index above 1,000 for the first time since November.

The market soared last month on signs of improvement in industries such as housing and manufacturing, but worries over rising unemployment and still-sagging consumer spending have halted the market's rise.

"You're beginning to get a mixed bag of data," said Russell Investments' Wood. "I think that creates probably more lumpy returns in the market. It's not as clear-cut as when we were in a nosedive, but it's also far from clear that there is going to be a brisk recovery in the near future."

American Express Co. rose after it said the rate of losses on credit card loans is slowing. The stock rose 95 cents, or 3.1 percent, to $31.31.

Retailers were mixed. TJX Cos., operator of the T.J. Maxx and Marshalls chains, fell $1.45, or 4 percent, to $34.84, while Limited Brands Inc. jumped $1.65, or 13 percent, to $14.39.

In other trading, the Russell 2000 index of smaller companies fell 8.37, or 1.5 percent, to 557.62.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note rose to 3.76 percent from 3.75 percent late Wednesday.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude fell 3 cents to settle at $71.94 a barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 rose 0.9 percent, Germany's DAX index added 0.3 percent, and France's CAC-40 rose 0.6 percent. Japan's Nikkei stock average rose 1.3 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 198.46, or 2.2 percent, at 9,370.07. The Standard & Poor's 500 index rose 23.00, or 2.3 percent, to 1,010.48. The Nasdaq composite index rose 21.75, or 1.1 percent, to 2,000.25.

The Russell 2000 index, which tracks the performance of small company stocks, rose 15.69, or 2.8 percent, for the week to 572.40.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 10,416.26, up 269.24, or 2.7 percent, for the week. A year ago, the index was at 12,905.73.

The economy's most vexing problem, unemployment, is showing the first signs of easing. And Wall Street is celebrating.

Major stock indexes jumped more than 1 percent Friday after the government said the nation's unemployment rate unexpectedly fell in July for the first time in 15 months and that employers cut fewer jobs. Bond prices fell, driving yields higher as investors left the safety of Treasurys.

The Labor Department report handed investors the best evidence yet that the economy could be climbing out of the recession. Analysts widely consider unemployment the biggest obstacle to a recovery in the economy, which is driven by consumer spending.


*The NYSE DOW closed HIGHER +113.81  points +1.23% on Friday August 7*
Sym Last........ ........Change.......... 
Dow 9,370.07 +113.81 +1.23% 
Nasdaq 2,000.25 +27.09 +1.37% 
S&P 500 1,010.48 +13.40 +1.34% 
30-yr Bond 4.6030% +0.0860 

NYSE Volume 8,009,963,500  (prior day 7,699,912,500)
Nasdaq Volume 2,519,252,250  (prior day 2,447,590,750)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,731.56 +41.03 +0.87% 
DAX 5,458.96 +88.98 +1.66% 
CAC 40 3,521.14 +43.31 +1.25% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,412.09 +24.00 +0.23% 
Hang Seng 20,375.37 -523.87 -2.51% 
Straits Times 2,549.35 -52.15 -2.00% 

http://finance.yahoo.com/news/Investors-finally-find-good-apf-2848453904.html?x=0&.v=34

*Investors finally find good news on unemployment

Surprise drop in unemployment rate pushes stocks higher, fans hope for recovery; Dow jumps 114 *
By Tim Paradis, AP Business Writer 
On Friday August 7, 2009, 6:01 pm EDT 

NEW YORK (AP) -- The economy's most vexing problem, unemployment, is showing the first signs of easing. And Wall Street is celebrating.

Major stock indexes jumped more than 1 percent Friday after the government said the nation's unemployment rate unexpectedly fell in July for the first time in 15 months and that employers cut fewer jobs. Bond prices fell, driving yields higher as investors left the safety of Treasurys.

The Labor Department report handed investors the best evidence yet that the economy could be climbing out of the recession. Analysts widely consider unemployment the biggest obstacle to a recovery in the economy, which is driven by consumer spending.

The surprise figures injected new life in a monthlong rally and provided validation for traders who have been betting since March that the economy is healing. The Dow Jones industrial average rose 114 points to cap its fourth straight weekly gain. The Dow is at its highest level since early November.

The government said employers shed 247,000 jobs in July, the fewest in a year. Economists had expected 320,000 lost jobs. The unemployment rate dropped to 9.4 percent from 9.5 percent in June, rather than rising to 9.6 percent as forecast.

"It really gave the market the proof that it needed to see," said Burt White, chief investment officer at LPL Financial in Boston.

The report is often the most anticipated bit of economic news each month on Wall Street and nervousness about what it would reveal held stocks to modest moves most of the week. The exception came Monday when Ford Motor Co. said its monthly sales rose for the first time in nearly two years because the government's cash for clunkers program was drawing customers. That, and good news about manufacturing, construction and banking, sent the Standard & Poor's 500 index over 1,000 for the first time in nine months.

With the pop Friday, the S&P 500 index is up 14.9 percent in only four weeks and 49.4 percent from a 12-year low in early March.

Still, some analysts say the gains have come too quickly and question whether an economic rebound can ever live up to the expectations investors are now setting.

"We've run very fast, very quickly," said Marc Harris, co-head of global research for RBC Capital Markets in New York. "I think we're due to take a breath."

The Dow rose 113.81, or 1.2 percent, to 9,370.07. The broader S&P 500 index gained 13.40, or 1.3 percent, to 1,010.48, while the Nasdaq composite index rose 27.09, or 1.4 percent, to 2,000.25.

About 2,300 stocks rose on the New York Stock Exchange, while about 700 fell. Consolidated volume rose to 7 billion shares from 6.8 billion Thursday.

For the week, the Dow added 2.2 percent, the S&P 500 index rose 2.3 percent and the Nasdaq rose 1.1 percent.

Meanwhile, bond prices fell as the jobs reading limited demand for the safety of government debt. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.86 percent from 3.76 percent late Thursday.

Financial and retail stocks rallied Friday along with the broader market.

Insurer American International Group Inc. posted its first quarterly profit since 2007. The insurance giant, which is now majority owned by the government, rose $4.61, or 20.5 percent, to $27.14.

The jump in retail stocks came a day after many posted lackluster July sales. A drop in unemployment could make consumers feel more confident about making purchases, which could help the recovery along. Their spending accounts for more than two-thirds of U.S. economic activity. Macy's Inc. rose 98 cents, or 6.5 percent, to $15.99.

Analysts say some of the market's recent gains are tied to short-covering, in which investors have to buy stock after having earlier sold borrowed shares in a bet they would fall.

On other days, selling has been contained because investors don't want to miss a rally that has surprised many traders with its strength. On Wednesday, the Dow fell only 39 points but it was the biggest drop in a month.

Investors will be looking for more insight into the economy when the Fed's interest-rate committee concludes a two-day meeting on Wednesday. It is unclear when policymakers will decide the economy is strong enough to handle rate hikes that will be needed to keep inflation in check.

Light, sweet crude fell $1.01 to settle $70.93 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 14.78, or 2.7 percent, to 572.40.

The dollar mostly rose against other major currencies, while gold prices advanced.

Overseas markets also rallied on the U.S. jobs report. Britain's FTSE 100 rose 0.9 percent, Germany's DAX index gained 1.7 percent, and France's CAC-40 rose 1.3 percent. Early Friday, Japan's Nikkei stock average closed with a gain of 0.2 percent.

The Dow Jones industrial average closed the week up 198.46, or 2.2 percent, at 9,370.07. The Standard & Poor's 500 index rose 23.00, or 2.3 percent, to 1,010.48. The Nasdaq composite index rose 21.75, or 1.1 percent, to 2,000.25.

The Russell 2000 index, which tracks the performance of small company stocks, rose 15.69, or 2.8 percent, for the week to 572.40.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 10,416.26, up 269.24, or 2.7 percent, for the week. A year ago, the index was at 12,905.73.
467


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Monday made for a rather boring day for stocks. There wasn't any market-moving news and the major indices spent the entire session trading with relatively modest weakness. 

At their session lows, stocks were down roughly 1%. The downturn came after a choppy start and a couple of failed attempts to pare losses in the early going. Stocks did manage to retrace the downturn into the close, though.

Stocks fell on Monday, but were off their session lows, as investors booked profits following a four-week rally that took the broad S&P 500 index to a 10-month high on Friday.

The drop comes ahead of an abundance of economic data due this week, including the Federal Reserve's statement on interest rates and the economy, as well as government figures for monthly retail sales.

Materials companies' stocks took a hit, with the S&P materials index (^GSPM - News) down 1.6 percent as a rise in the U.S. dollar curbed investors' appetite for commodities priced in the greenback.

*The NYSE DOW closed LOWER -32.12 points -0.34% on Monday August 10*
Sym Last........ ........Change.......... 
Dow 9,337.95 -32.12 -0.34% 
Nasdaq 1,992.24 -8.01 -0.40% 
S&P 500 1,007.10 -3.38 -0.33% 
30-yr Bond 4.5260% -0.0770 

NYSE Volume 6,136,567,000  (prior day 8,009,963,500)
Nasdaq Volume 1,883,046,880  (prior day 2,519,252,250)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,722.20 +31.67 +0.68% 
DAX 5,418.12 -40.84 -0.75% 
CAC 40 3,504.54 -16.60 -0.47% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,524.26 +112.17 +1.08% 
Hang Seng 20,929.52 +554.15 +2.72% 
Straits Times 2,549.35 closed monday Aug 10

http://finance.yahoo.com/news/Wall-...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Wall St dips after four-week rally*
Monday August 10, 2009, 4:36 pm EDT 
By Rodrigo Campos

NEW YORK (Reuters) - Stocks fell on Monday, but were off their session lows, as investors booked profits following a four-week rally that took the broad S&P 500 index to a 10-month high on Friday.

The drop comes ahead of an abundance of economic data due this week, including the Federal Reserve's statement on interest rates and the economy, as well as government figures for monthly retail sales.

Materials companies' stocks took a hit, with the S&P materials index (^GSPM - News) down 1.6 percent as a rise in the U.S. dollar curbed investors' appetite for commodities priced in the greenback.

AK Steel Holding (NYSE:AKS - News) fell 4.7 percent to $20.31 while Nucor (NYSE:NUE - News) lost 4.1 percent to $47.10.

"A number of natural resource names were perhaps overextended. We are seeing a pullback in commodity-related stocks," said Joe Arsenio, president of Arsenio Capital Management in Larkspur, California.

He said that there was also some profit taking after the market's steep rise in the past weeks.

"There's been quite a bit of money coming in off the sidelines that supported the rally, and it's possible that some of those flows are just diminishing a bit since we've had this tremendous advance," he said.

The Dow Jones industrial average (DJI:^DJI - News) lost 32.12 points, or 0.34 percent, to close at 9,337.95. The Standard & Poor's 500 Index (^SPX - News) fell 3.38 points, or 0.33 percent, to 1,007.10. The Nasdaq Composite Index (Nasdaq:^IXIC - News) dropped 8.01 points, or 0.40 percent, to 1,992.24.

The retail group was a weak performer in Monday's session, with Best Buy (NYSE:BBY - News) down 5.3 percent at $37.66 after Goldman Sachs downgraded the electronics retailer to "neutral."

The S&P Retail index (Chicago Options:^RLX - News) dropped 2 percent.

On Nasdaq, BlackBerry maker Research in Motion (NasdaqGS:RIMM - News; Toronto:RIM.TO - News) was one of the top drags, down 4.9 percent at $73.34. The stock was down for a third-straight session after UBS downgraded it to "neutral" from "buy" on concerns that Verizon Wireless, one of RIM's largest customers, may launch an iPhone.

On the upside, McDonald's reported stronger-than-expected July sales, sending the Dow component's stock up 1.9 percent to $56.27 on the New York Stock Exchange.

Fellow Dow component Merck & Co (NYSE:MRK - News) rose 1.7 percent to $30.60 after the drugmaker's stock was reinstated by Goldman Sachs with a "buy" rating, and added to its Americas conviction buy list.

The S&P healthcare index (^GSPA - News) gained 0.75 percent.

Volume was low on the New York Stock Exchange, with 1.09 billion shares changing hands, below last year's estimated daily average of 1.49 billion. On the Nasdaq about 1.86 billion shares traded, well below last year's daily average of 2.28 billion.

Declining stocks outnumbered advancing ones on the NYSE by a ratio of 8 to 7, while on the Nasdaq, about 14 stocks fell for every 13 that rose.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

REPLACES POSTING   #785 EARLIER TODAY WITH PREFERRED MARKET COMMENTARY BY Tim Paradis.

Monday made for a rather boring day for stocks. There wasn't any market-moving news and the major indices spent the entire session trading with relatively modest weakness. 

At their session lows, stocks were down roughly 1%. The downturn came after a choppy start and a couple of failed attempts to pare losses in the early going. Stocks did manage to retrace the downturn into the close, though.

With the stock market in a bit of a news lull, investors decided to lock in some profits.

Stocks fell modestly Monday in the absence of any major corporate or economic developments. Investors were cautious ahead of a two-day meeting of the Federal Reserve that starts Tuesday, and they're waiting for retail earnings reports to give some clues about consumer spending for the rest of the year.

Bond prices jumped as stocks fell. Monday's moves in both the stock and credit markets weren't surprising after major stock indexes shot up 1 percent last week. The Dow Jones industrials fell 32 points and all the major indexes each fell less than half a percentage point.

*The NYSE DOW closed LOWER -32.12 points -0.34% on Monday August 10*
Sym Last........ ........Change.......... 
Dow 9,337.95 -32.12 -0.34% 
Nasdaq 1,992.24 -8.01 -0.40% 
S&P 500 1,007.10 -3.38 -0.33% 
30-yr Bond 4.5260% -0.0770 

NYSE Volume 6,136,567,000 (prior day 8,009,963,500)
Nasdaq Volume 1,883,046,880 (prior day 2,519,252,250)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,722.20 +31.67 +0.68% 
DAX 5,418.12 -40.84 -0.75% 
CAC 40 3,504.54 -16.60 -0.47% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,524.26 +112.17 +1.08% 
Hang Seng 20,929.52 +554.15 +2.72% 
Straits Times 2,549.35 closed monday Aug 10

http://finance.yahoo.com/news/Stocks-fall-as-traders-lock-apf-2301230542.html?x=0

*Stocks fall as traders lock in profits after rally

Stocks slide after rally; traders look to retail earnings, Federal Reserve's two-day meeting *
By Tim Paradis, AP Business Writer 
On Monday August 10, 2009, 5:58 pm EDT 

NEW YORK (AP) -- With the stock market in a bit of a news lull, investors decided to lock in some profits.

Stocks fell modestly Monday in the absence of any major corporate or economic developments. Investors were cautious ahead of a two-day meeting of the Federal Reserve that starts Tuesday, and they're waiting for retail earnings reports to give some clues about consumer spending for the rest of the year.

Bond prices jumped as stocks fell. Monday's moves in both the stock and credit markets weren't surprising after major stock indexes shot up 1 percent last week. The Dow Jones industrials fell 32 points and all the major indexes each fell less than half a percentage point.

Investors want to see what the Fed has to say about how the economy is faring when its meeting ends Wednesday. It is widely expected the Fed will keep key interest rates steady at near zero, but Wall Street will be paying more attention to the economic assessment the Fed issues with its rate decision rather than any rate move itself.

"People want to see some words -- some confidence -- coming out of the Fed that the economy is improving," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research in Cincinnati.

Even if the Fed says areas like housing and unemployment are making gradual improvements, traders have other worries. Banks still have billions of dollars in bad debt and the Fed said in a snapshot of economic conditions at the end of July that commercial real estate activity continues to weaken.

Analysts are still concerned about how and when policymakers will withdraw the enormous support the Fed implemented in the fall to prop up the financial system and the overall economy. The economy must first be stable enough to withstand an increase in interest rates that would boost borrowing costs, including mortgage rates.

Consumers are expected to be one of the market's main concerns during August. Big retailers such as Wal-Mart Stores Inc. and Macy's Inc. report earnings this week, and others release results in the coming weeks. There appeared to be some nervousness ahead of those reports, as retailers were among the biggest losers Monday.

The Dow Jones industrial average fell 32.12, or 0.3 percent, to 9,337.95. The Standard & Poor's 500 index fell 3.38, or 0.3 percent, to 1,007.10, while the Nasdaq composite index fell 8.01, or 0.4 percent, to 1,992.24.

Eight stocks fell for every seven that rose on the New York Stock Exchange, where consolidated volume came to a light 5.44 billion shares, down from Friday's 7 billion.

In bond trading, the yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.78 percent from 3.86 percent late Friday. The gains follow a steep drop Friday after the employment hurt demand for the safety of government debt. Investors are also bracing for a record $75 billion auction of debt this week that starts Tuesday.

Analysts said the stock market's occasional retreats have been small in the past month and likely will continue to be mild because investors and money mangers who missed the rally have been buying when the market dips.

Traders say the pause in the gains is welcome after the S&P 500 index jumped 15 percent in just four weeks and 49 percent from a 12-year low in early March. Major indexes ended Friday at their highest levels since last fall.

"Taking a break is a good thing or else we'd see valuations exceeding fundamentals a little bit too much," said Jeffrey Phillips, chief investment officer at Rehmann Financial in Troy, Mich.

Among retail stocks, Macy's fell 76 cents, or 4.75 percent, to $15.23. Best Buy Co. fell $2.09, or 5.26 percent, to $37.66.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude fell 33 cents to settle at $70.60 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies fell 0.53, or 0.1 percent, to 571.87.

Overseas, Asian markets rose on a positive report on Japanese machinery orders, a key indicator of corporate capital spending. Japan's Nikkei stock average rose 1.1 percent.

Britain's FTSE 100 slipped 0.2 percent, Germany's DAX index lost 0.8 percent, and France's CAC-40 fell 0.5 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Weakness among financial stocks led to a broad-based selling effort that resulted in the stock market's worst single-session percentage decline in one month. Though stocks finished off of session lows, they still closed in weak fashion, unable to garner support and limit losses as they did in the previous session. 

The downturn left the S&P 500 just below 995, which is considered a support level below the psychologically significant 1000. Many market watchers regard 990 as the next level of support, followed by 980.

Tuesday started with modest losses until sellers made a concerted move against financials. The financial sector shed 3.5% as regional banks and diversified banks fell a respective 4.2% and 5.6%. Diversified financial services firms fell 4.4%. 

A recurrence of investors' anxiety about the economy gave Wall Street its biggest loss in five weeks.

The major indexes fell 1 percent Tuesday as investors feared that the market's steep gains in the past month could unravel if the economy doesn't show more signs of strengthening. Warnings about the health of banks and uneasiness ahead of the Federal Reserve's economic statement Wednesday led investors to dump financial stocks and wade into defensive areas like consumer staples companies and government debt.

Meanwhile, a record 10th straight monthly drop in wholesale inventories brought a fresh reminder that a recovery in the economy is likely to be gradual.

*The NYSE DOW closed LOWER -96.50 points -1.03% on Tuesday August 11*
Sym Last........ ........Change.......... 
Dow 9,241.45 -96.50 -1.03% 
Nasdaq 1,969.73 -22.51 -1.13% 
S&P 500 994.35 -12.75 -1.27% 
30-yr Bond 4.4530% -0.0730 

NYSE Volume 6,631,985,500  (prior day 6,136,567,000)
Nasdaq Volume 1,965,972,620  (prior day 1,883,046,880)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,671.34 -50.86 -1.08% 
DAX 5,285.81 -132.31 -2.44% 
CAC 40 3,456.18 -48.36 -1.38% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,585.46 +61.20 +0.58% 
Hang Seng 21,074.21 +144.69 +0.69% 
Straits Times 2,597.30 +47.95 +1.88% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks fall as traders await Fed's take on economy

Stocks slide as investors look to Fed for read on economy; Dow industrials fall 97 points*, 
By Tim Paradis AP Business Writer 
On Tuesday August 11, 2009, 5:56 pm EDT 

NEW YORK (AP) -- A recurrence of investors' anxiety about the economy gave Wall Street its biggest loss in five weeks.

The major indexes fell 1 percent Tuesday as investors feared that the market's steep gains in the past month could unravel if the economy doesn't show more signs of strengthening. Warnings about the health of banks and uneasiness ahead of the Federal Reserve's economic statement Wednesday led investors to dump financial stocks and wade into defensive areas like consumer staples companies and government debt.

Meanwhile, a record 10th straight monthly drop in wholesale inventories brought a fresh reminder that a recovery in the economy is likely to be gradual.

But many analysts said investors weren't panicking. They were taking a much-needed pause following a rally that seemed to be going at breakneck speed. The Standard & Poor's 500 index had reached at its highest level since last fall, rising 15 percent in just four weeks and 49 percent from a 12-year low in early March.

"This sort of give-and-take is quite healthy," said Erik Davidson, managing director of investments at Wells Fargo Private Bank in Carmel, Calif. "You're up 50 percent in five months. That's 10 percent a month. In quote-unquote normal markets that's five years worth of returns."

Moreover, traders often become jittery when the Fed policymakers meet to discuss interest rates. It is widely expected that the central bank will hold interest rates at their historic low of essentially zero, but investors are waiting to see what the Fed has to say about the economy when the meeting concludes Wednesday.

"It's pretty clear that a lot of people are pulling back any bets pending what is going to happen with the Fed," said Max Bublitz, chief strategist at SCM Advisors in San Francisco.

There were some troubling developments during the day, however. Downbeat comments from analysts about banks weighed on the market. Analyst Richard Bove of Rochdale Securities predicted that bank earnings won't improve for the second half of the year and that many companies will post losses.

"It just takes the euphoria feelings off the table," said Dave Rovelli, managing director of trading at brokerage Canaccord Adams in New York, referring to Bove's comments and recent optimism among investors.

With many traders on vacation, volume was light, which tends to skew price moves.

The Dow Jones industrial average fell 96.50, or 1 percent, to 9,241.45. It was down 121 points at its low of the day. The Dow slipped 32 points Monday.

The broader S&P 500 index fell 12.75, or 1.3 percent, to 994.35.

It was the biggest drop for both the Dow and the S&P 500 index since July 7.

The Nasdaq composite index fell 22.51, or 1.1 percent, to 1,969.73, while the Russell 2000 index of smaller companies fell 9.75, or 1.7 percent, to 562.12.

About three stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 5.8 billion shares, compared with 5.4 billion Monday.

The Chicago Board Options Exchange's Volatility Index spiked in a sign of investors' nervousness. The VIX, also known as the market's fear index, rose 4 percent to 25.99, its highest level in a month. It is down 35 percent in 2009 and its historical average is 18-20. It hit a record 89.5 in October at the height of the financial crisis.

Bond prices jumped. The gains followed a solid showing at the first of the week's three auctions for a record $75 billion in debt. Prices often fall when the government introduces supply to the market. The sale Tuesday was for $37 billion in three-year notes and the government will auction $23 billion in 10-year notes Wednesday.

Investors are watching for a drop in buyers because that could force the government to increase the interest it pays, which would drive up borrowing costs for consumers and slow an economic recovery.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.67 percent from 3.78 percent.

Among banks, Citigroup Inc. fell 25 cents, or 6.4 percent, to $3.69. Bank of America Corp. fell 83 cents, or 5 percent, to $15.85.

Bond insurer MBIA Inc. tumbled 78 cents, or 12.6 percent, to $5.39 after J.P. Morgan Securities cut its rating on the stock over concerns the company could face steep losses from bad debt.

The KBW Bank Index, which tracks 24 of the nation's largest banks, slid 4.4 percent.

Wal-Mart Stores Inc. rose 32 cents to $50.04 as investors looked for safe-haven investments.

The day's economic readings were mixed. The Commerce Department said inventories fell 1.7 percent in June. That was nearly double the drop economists had expected. The drop has contributed to the recession.

The Labor Department said productivity -- which measures the amount of output per hour of work -- grew a greater-than-expected 6.4 percent during the second quarter.

In other trading, crude oil fell $1.15 to settle at $69.45 a barrel on the New York Mercantile Exchange.

The dollar was mixed against other major currencies, while gold prices rose.

Overseas, Britain's FTSE 100 fell 1.1 percent, Germany's DAX index tumbled 2.4 percent, and France's CAC-40 dropped 1.4 percent. Japan's Nikkei stock average rose 0.6 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Neither the FOMC's latest policy directive nor a key Treasury auction delivered any negative surprises, so this session's buying effort generally went without being thwarted. Though the major indices did fall from session highs in the final minutes of the session, stocks still finished broadly higher. 

A more upbeat Federal Reserve is reassuring investors that they've been making the right bets.

Stocks bounded higher Wednesday after the central bank ended a two-day meeting by saying the economy appears to be "leveling out" rather than shrinking at a slower rate. The Fed's more positive take on the economy than it had in June wasn't surprising but it still bolstered hopes for a recovery.

Wednesday's advance re-energized the market's summer rally after it had stalled on Monday and Tuesday. Major market indexes jumped more than 1 percent, including the Dow Jones industrial average, which rose 120 points. Long-term Treasurys fell after the Fed said it would slow its purchases of government debt.


*The NYSE DOW closed HIGHER +120.16 points +1.30% on Wednesday August 12*
Sym Last........ ........Change.......... 
Dow 9,361.61 +120.16 +1.30% 
Nasdaq 1,998.72 +28.99 +1.47% 
S&P 500 1,005.81 +11.46 +1.15% 
30-yr Bond 4.5230% +0.0700 

NYSE Volume 6,369,763,500  (prior day 6,631,985,500)
Nasdaq Volume 2,189,983,250  (prior day 1,965,972,620)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,716.76 +45.42 +0.97% 
DAX 5,350.09 +64.28 +1.22% 
CAC 40 3,507.24 +51.06 +1.48% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,435.00 -150.46 -1.42% 
Hang Seng 20,435.24 -638.97 -3.03% 
Straits Times 2,571.31 -25.99 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks jump as Fed raises view of economy

Stocks post sharp gains as Federal Reserve, slightly more upbeat, sees economy 'leveling out' *
By Tim Paradis, AP Business Writer 
On Wednesday August 12, 2009, 6:08 pm EDT 

NEW YORK (AP) -- A more upbeat Federal Reserve is reassuring investors that they've been making the right bets.

Stocks bounded higher Wednesday after the central bank ended a two-day meeting by saying the economy appears to be "leveling out" rather than shrinking at a slower rate. The Fed's more positive take on the economy than it had in June wasn't surprising but it still bolstered hopes for a recovery.

Wednesday's advance re-energized the market's summer rally after it had stalled on Monday and Tuesday. Major market indexes jumped more than 1 percent, including the Dow Jones industrial average, which rose 120 points. Long-term Treasurys fell after the Fed said it would slow its purchases of government debt.

Financial and technology shares posted some of the strongest gains after a ratings upgrade and profit reports provided evidence of a rebound. The stock market's advance was itself adding to bank and insurance stock gains -- its climb means their investment portfolios are surging in value.

Investors who sent stocks soaring the past four weeks on expectations for a recovery went into Wednesday hoping for a change in the Fed's language. Many investors were anticipating that the central bank's assessment might be moving closer to their own after the Labor Department said Friday that the nation's unemployment rate fell in July for the first time in 15 months.

The Fed's statement was particularly gratifying after traders suffered an attack of nerves Tuesday that slashed 1 percent from the major indexes. Concerns about the health of banks fed that drop, but the Fed's comments soothed those fears. The central bank also left interest rates unchanged, as expected.

"They did really endorse the fact that we're moving into recovery, not searching for the bottom," said Bruce McCain, chief investment strategist at Key Private Bank in Cleveland.

The Fed also said it would slow the pace of its program to buy $300 billion worth of Treasury securities so that it will close at the end of October, rather than September as planned. The central bank has bought $253 billion of the securities so far. The program is designed to reduce rates on mortgages and other consumer debt.

"The fact that they are going to wind down the Treasury purchases I think leaves the clear impression that they are quite satisfied with the progress we are making in the recovery," McCain said.

But some analysts are skeptical that the market can maintain its climb even with the Fed's more optimistic words. The S&P 500 index is up 14.4 percent in little more than a month and 48.7 percent since it fell to a 12-year low in early March.

"It looks like a pretty sharp rise to me to have a lot of sustainability," said Dan Cook, senior market analyst at IG Markets in Chicago.

The Dow rose 120.16, or 1.3 percent, to 9,361.61. The Standard & Poor's 500 index rose 11.46, or 1.2 percent, to 1,005.81, while the Nasdaq composite index gained 28.99, or 1.5 percent, to 1,998.72.

Rising stocks outpaced those that fell 5-to-2 on the New York Stock Exchange, where consolidated volume fell to 5.5 billion shares from 5.8 billion Tuesday. Light volume can skew price moves but is typical of late summer when many traders take vacations.

Investors found encouragement Wednesday from a range of industries.

Peter Jankovskis, co-chief investment officer at OakBrook Investments in Lisle, Ill., said quarterly results from luxury homebuilder Toll Brothers Inc. and retailer Macy's Inc. could be signaling that consumption is increasing. That is key to a recovery because consumer spending accounts for more than two-thirds of U.S. economic activity.

Homebuilders jumped after Toll Brothers said 3 percent more homebuyers signed contracts in its fiscal third quarter, the first annual increase in four years.

The company's statement that many of its markets are improving boosted confidence because analysts point to unemployment and housing as two of the biggest obstacles to a rebound. Toll jumped $2.94, or 14.4 percent, to $23.42.

Macy's reported a better-than-expected second-quarter profit and cited cost-cuts in raising its full-year earnings forecast. The retailer rose 93 cents, or 6 percent, to $16.40.

Insurers led financial stocks higher after S&P raised its credit outlook for Travelers Cos. The commercial and personal property insurer advanced $1.50, or 3.3 percent, to $46.43.

Tech shares rose after Applied Materials Inc.'s fiscal third-quarter results topped analysts' expectations. The maker of equipment for manufacturing semiconductors rose 44 cents, or 3.3 percent, to $13.66.

Meanwhile, bond prices were mixed after an auction of $23 billion in 10-year Treasury notes saw demand in line with recent levels but down from last month. The Treasury Department is issuing a record $75 billion in three auctions this week. The third, for $15 billion in 30-year bonds, is Thursday.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.72 percent from 3.67 percent late Tuesday. The yield on the 30-year bond jumped to 4.54 percent from 4.44 percent as stocks jumped and as investors feared the Fed's withdrawal from the market would hurt demand.

The dollar was mixed against other major currencies, while gold rose.

Benchmark crude rose 71 cents to settle at $70.16 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 10.05, or 1.8 percent, to 572.17.

Overseas, Britain's FTSE 100 rose 1 percent, Germany's DAX index added 1.2 percent, and France's CAC-40 jumped 1.5 percent. Japan's Nikkei stock average fell 1.4 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Focused on an economic recovery, investors shook off disappointing news and kept Wall Street's summer rally going.

Investors sent stocks higher for a second day in a row Thursday, giving all the major indexes a moderate boost and adding to the gains that followed upbeat comments from the Federal Reserve a day earlier.

Financial, technology and energy companies were among the big winners, while stocks in defensive, or relatively safer, industries like health care fell. Retailers declined after a worse-than-expected report on retail sales.

*The NYSE DOW closed HIGHER +36.58 points +0.39% on Thursday August 13*
Sym Last........ ........Change.......... 
Dow 9,398.19 +36.58 +0.39% 
Nasdaq 2,009.35 +10.63 +0.53% 
S&P 500 1,012.73 +6.92 +0.69% 
30-yr Bond 4.4200% -0.1030 

NYSE Volume 6,021,859,500  (prior day 6,369,763,500)
Nasdaq Volume 2,114,043,750  (prior day 2,189,983,250)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,755.46 +38.70 +0.82% 
DAX 5,401.11 +51.02 +0.95% 
CAC 40 3,524.39 +17.15 +0.49% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,517.19 +82.19 +0.79% 
Hang Seng 20,861.30 +426.06 +2.08% 
Straits Times 2,616.97 +45.66 +1.78% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks manage to extend gains to 2nd day

Stocks push higher for second day, investors shrug off weak retail sales, jobs reports *
By Sara Lepro, AP Business Writer 

NEW YORK (AP) -- Focused on an economic recovery, investors shook off disappointing news and kept Wall Street's summer rally going.

Investors sent stocks higher for a second day in a row Thursday, giving all the major indexes a moderate boost and adding to the gains that followed upbeat comments from the Federal Reserve a day earlier.

Financial, technology and energy companies were among the big winners, while stocks in defensive, or relatively safer, industries like health care fell. Retailers declined after a worse-than-expected report on retail sales.

Meanwhile, Treasury prices rose after the government had a successful auction of 30-year bonds. The Treasury Department issued a total of $75 billion of debt this week as part of its ongoing efforts to fund the government's stimulus programs, and investors were relieved that the market was able to absorb such a huge supply.

Analysts said Wall Street's showing Thursday was a sign of the market's resilience in light of economic reports that suggested the recovery could be slowed by a weak consumer. Investors seemed to look past the latest news and focus on the Fed's more upbeat assessment of the economy. Stocks soared Wednesday after the Fed said the economy was "leveling out," not just slowing its decline.

"You're not seeing people giving up on this economy," said Keith Springer, president of Capital Financial Advisory Services.

Among the day's reports, the Commerce Department said retail sales fell 0.1 percent in July, significantly worse than the 0.7 percent increase economists expected. Retail sales are considered a strong indicator of economic recovery because consumer spending accounts for more than two-thirds of all economic activity.

A weekly report on unemployment also came in worse than projected. The Labor Department said the number of newly laid-off workers filing claims for unemployment benefits rose unexpectedly to a seasonally adjusted 558,000, from 554,000 the previous week. Analysts were expecting new claims to drop to 545,000.

The Dow Jones industrial average rose 36.58, or 0.4 percent, to 9,398.19 after rising 120 Wednesday in response to the Fed's statement.

The Standard & Poor's 500 index rose 6.92, or 0.7 percent, to 1,012.73, while the Nasdaq composite index rose 10.63, or 0.5 percent, to 2,009.35.

Advancing stocks outpaced losers by 2 to 1 on the New York Stock Exchange, where volume came to a very light 777.32 million shares.

In other trading, the Russell 2000 index of smaller companies rose 3.02, or 0.5 percent, to 575.19.

Financial stocks led the day's gains, buoyed by news that the hedge fund run by John Paulson bought about 168 million shares of Bank of America Corp. Paulson foresaw the distress in subprime mortgages and reaped billions by betting against the related securities, so his purchases of Bank of America stock are seen as a vote of confidence in the bank's future.

"He gives a lot of credibility because he certainly saw the danger on the credit side," said Anton Schutz, portfolio manager of Burnham Financial Industries Fund and Burnham Financial Services Fund.

Bank of America rose $1.07, or 6.7 percent, to $17. Regional banks also rose significantly after tumbling earlier in the week on downbeat comments from an analyst that raised doubts about some banks' ability to improve their earnings in the second half of the year.

Texas Instruments Inc. rose 66 cents, or 2.8 percent, to $24.54 after an analyst upgraded the stock. That helped lift other technology stocks.

Wal-Mart Stores Inc. rose $1.37, or 2.7 percent, to $51.88 after the world's largest retailer reported better-than-expected second quarter earnings. Wal-Mart also raised the low end of its profit guidance, saying it expects shoppers to continue to be attracted by its low-priced items.

Other retail stocks were mixed following the government's weak sales report. Macy's Inc. slipped 25 cents to $16.15, while Best Buy Co. rose 51 cents to $37.01.

Investors have sent stocks soaring the past few weeks as improving corporate profits and signs of life in the troubled housing industry gave the market hope that the economy is healing. The Fed's comments Wednesday affirmed for investors that their recent bets had been warranted.

Still, with the news flow tapering and trading light amid the summer slowdown on Wall Street, analysts warn it might be difficult to keep the market's momentum going.

The S&P 500 index has risen 15.2 percent in little more than a month and 49.7 percent since it fell to a 12-year low in early March.

Treasurys rose higher after the successful auction of 30-year bonds. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.61 percent from 3.72 percent late Wednesday.

The dollar fell against the euro and the British pound, while gold and other metal prices rose.

Light, sweet crude rose 36 cents to settle at $70.52 a barrel on the New York Mercantile Exchange.

Earlier Thursday, Asian markets closed higher on the Fed's statement, while European markets rose after new data showed recessions have ended in Germany and France.

Japan's Nikkei stock average rose 0.8 percent, while Hong Kong's Hang Seng index jumped 2.1 percent. Britain's FTSE 100 gained 0.8 percent, Germany's DAX index rose 1.0 percent, and France's CAC-40 rose 0.5 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow was down 0.5 percent for the week, while the S&P 500 index fell 0.6 percent and the Nasdaq was off 0.7 percent.

A broad-based decline following the latest dose of data resulted in the S&P 500's first weekly decline in five weeks.

The fear on Wall Street is that nervous consumers are going to short-circuit the economic recovery.

Stocks fell sharply Friday, taking the major indexes down about 1 percent, after investors were disappointed by reports that the Reuters/University of Michigan index of consumer sentiment fell significantly short of expectations for the first part of August. That's a sign consumers may well keep cutting back their spending as they worry about losing their jobs. Consumer spending is crucial for the economy to emerge from recession as it accounts for two-thirds of all U.S. economic activity.

The discouraging reading came a day after the Commerce Department reported an unexpected decline in retail sales. Investors were able to shake that off, but Friday's consumer sentiment number had them bailing out of stocks, jeopardizing a summer rally that had lifted the Standard & Poor's 500 index more than 15 percent in about a month. Still, the indexes finished well off their lows of the day, a sign that the mood on Wall Street isn't all that grim, and light volume likely skewed price changes.

*The NYSE DOW closed LOWER -76.79 points -0.82% on Friday August 14*
Sym Last........ ........Change.......... 
Dow 9,321.40 -76.79 -0.82% 
Nasdaq 1,985.52 -23.83 -1.19% 
S&P 500 1,004.09 -8.64 -0.85% 
30-yr Bond 4.41% -0.01 

NYSE Volume 5,743,348,500  (prior day 6,021,859,500)
Nasdaq Volume 1,967,534,120  (prior day 2,114,043,750)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,713.97 -41.49 -0.87% 
DAX 5,309.11 -92.00 -1.70% 
CAC 40 3,495.27 -29.12 -0.83% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,597.33 +80.14 +0.76% 
Hang Seng 20,893.33 +32.03 +0.15% 
Straits Times 2,631.51 +17.33 +0.66% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks drop as investors worry about consumers

Stocks retreat after 2 days of gains as investors worry consumers will hurt economy's recovery *
By Sara Lepro, AP Business Writer 
On Friday August 14, 2009, 5:17 pm EDT 

NEW YORK (AP) -- The fear on Wall Street is that nervous consumers are going to short-circuit the economic recovery.

Stocks fell sharply Friday, taking the major indexes down about 1 percent, after investors were disappointed by reports that the Reuters/University of Michigan index of consumer sentiment fell significantly short of expectations for the first part of August. That's a sign consumers may well keep cutting back their spending as they worry about losing their jobs. Consumer spending is crucial for the economy to emerge from recession as it accounts for two-thirds of all U.S. economic activity.

The discouraging reading came a day after the Commerce Department reported an unexpected decline in retail sales. Investors were able to shake that off, but Friday's consumer sentiment number had them bailing out of stocks, jeopardizing a summer rally that had lifted the Standard & Poor's 500 index more than 15 percent in about a month. Still, the indexes finished well off their lows of the day, a sign that the mood on Wall Street isn't all that grim, and light volume likely skewed price changes.

Investors also sold off oil and other commodities and moved their money into the relative safety of the dollar and government bonds. Treasury prices jumped, sending their yields lower, while the dollar rose against other major currencies.

After rallying for months on expectations of an economic recovery, investors are worried that they have been too optimistic, given consumers' continuing reluctance to spend. Analysts are predicting that the market may be rocky for some time.

"Valuations were beginning to price in a sunnier a future, but not all the data is sunny yet," said Lawrence Creatura, portfolio manager at Federated Clover Capital Advisors, referring to stock prices. "There is still going to be a tug of war between good news and bad news as we move through the coming months."

The Dow Jones industrial average fell 76.79, or 0.8 percent, to 9,321.40 after falling as much as 165 points after the consumer sentiment survey was released.

The S&P 500 index fell 8.64, or 0.9 percent, to 1,004.09, while the Nasdaq composite index fell 23.83, or 1.2 percent, to 1,985.52.

The drop erased the market's advance of the last two days, and gave the big indexes their first losing week after four weeks of gains. The Dow was down 0.5 percent for the week, while the S&P 500 index fell 0.6 percent and the Nasdaq was off 0.7 percent.

About five stocks fell for every two that rose Friday on the New York Stock Exchange, where volume came to a light 1.09 billion shares. Light volume can exaggerate the market's movements.

In other trading, the Russell 2000 index of smaller companies fell 11.29, or 2 percent, to 563.90.

Bond prices rose sharply. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.57 percent from 3.62 percent late Thursday. The drop in the 10-year yield is good news for consumers because it is closely tied to interest rates on mortgages and other loans.

On the New York Mercantile Exchange, gold and other metals prices fell, while oil prices sank $3.01 to $67.51 a barrel.

Stocks have had a difficult few days, falling in the early part of the week amid anxiety over what the Federal Reserve would say about the economy at the end of a two-day policy meeting. The market turned higher on Wednesday after the Fed reassured investors with a more positive stance on the economy than in the past. The market's gains spilled over into Thursday.

"This week was a great example of what will likely occur for the rest of the year," said Greg Reynholds, a vice president at Lenox Advisors. "Day by day, week by week, month by month we're going to have to try to find direction through this data jungle."

Investors have sent markets higher this summer encouraged by improvements in housing, manufacturing and corporate profits. But without the support of the consumer, the economy's recovery is in question.

"I think you're going to need to see a material stabilization in labor markets before you get meaningful and stable consumer confidence," said Stephen Wood, chief marketing strategist at Russell Investments. "And we're certainly not adding jobs and we're not even at a point where jobs are no longer being lost."

Stocks fell across the board Friday, with the biggest losses among financial, energy and material companies -- industries that posted some of the biggest gains in recent days. Losses weren't as steep in more defensive areas like consumer staples and utilities, which tend to hold up better when the economy is weak.

In other economic news Friday, the Labor Department said the Consumer Price Index was flat in July after a slight increase in June. That had little effect on stocks but did help bond prices. Wall Street also shrugged off a report showing a bigger-than-expected increase in industrial production as investors have come to expect an improvement in manufacturing.

Overseas, Asian markets were mostly higher, with Japan's main index hitting a ten-month high amid mounting optimism about a global economic recovery. The Nikkei stock average rose 0.8 percent.

European markets gave up early gains and finished lower. Britain's FTSE 100 dropped 0.9 percent, Germany's DAX index fell 1.7 percent, and France's CAC-40 lost 0.8 percent.

844


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## bigdog

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stock futures point to plunge on Wall Street

US stock futures plunge on concerns of consumer spending; overseas markets also slide *
By Ieva M. Augstums, AP Business Writer 
On Monday August 17, 2009, 8:21 am EDT 

Wall Street looked to plunge at the opening of trading Monday as investors around the world feared that consumers are too anxious to help lift the economy into recovery.

U.S. stock futures fell sharply Monday after overseas markets extended the heavy selling that began on Wall Street Friday. That pullback followed a weaker than expected reading on consumer confidence.

The Shanghai stock market fell almost 6 percent and the major indexes in Europe were all down more than 1.5 percent.

Oil prices also continued to fall sharply, reflecting the growing concerns about a weak economy that will curtail demand for energy.

Dow Jones industrial average futures fell 180, or 1.9 percent, to 9,141. Standard & Poor's 500 index futures declined 21.10, or 2.1 percent, to 984.70, while Nasdaq 100 index futures declined 30.50, or 1.9 percent, to 1,584.50.

After rallying for months on expectations of an economic recovery, investors are now worried that they have been too optimistic given consumers' continuing reluctance to spend.

Friday's drop on Wall Street was triggered by a sharp drop in the Reuters/University of Michigan consumer sentiment index, which followed a surprisingly weak July retail sales report from the Commerce Department. While other parts of the economy, including housing and manufacturing, are showing signs of progress, the country cannot have a strong recovery unless consumers are spending more freely. Their spending accounts for more than two-thirds of economic growth.

Traders will get more insight into consumers' mindset as retailers report second-quarter earnings this week. Last week, the nation's largest retailer, Wal-Mart Stores Inc., said its most important sales figure, those from stores open at least a year, fell during the April-June period.

Among companies reporting results early Monday, Lowe's Cos. said poor weather and cautious consumer spending caused sales to fall 19 percent in the second quarter. The home improvement retailer missed analysts' forecasts.

Overseas, Japan's Nikkei stock average fell 3.1 percent as investors weren't satisfied by news that the country had emerged from recession in the second quarter. In afternoon trading, Britain's FTSE 100 fell 1.9 percent, Germany's DAX index fell 2.2 percent, and France's CAC-40 fell 2.5 percent.

Oil prices hovered around $66 a barrel in pre-opening trading on the New York Mercantile Exchange.

Meanwhile, bond prices rose as investors sought safety of Treasurys. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.48 percent from 3.57 percent late Friday.

The dollar rose against other major currencies, while gold prices fell.

014


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## bigdog

bigdog said:


> http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=
> 
> *Stock futures point to plunge on Wall Street
> 
> US stock futures plunge on concerns of consumer spending; overseas markets also slide *




NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Profit taking in the wake of slower-than-expected economic growth in Japan triggered a global sell-off that sent stocks below their recent trading ranges and handed the major U.S. indices their worst single-session percentage loss in six weeks. 

With stocks looking overextended in the near term, overseas participants moved against stocks upon learning that Japan's economy expanded at a slower-than-expected rate of 0.9% in the second quarter. In turn, Japan's Nikkei shed 3.1%, while several other major Asian averages also finished with losses exceeding 3%. Stocks in Europe followed suit, but their decline wasn't quite as sharp. Overall weakness among the major global indices sent the Dow Jones World Index to a 2.9% loss, which is its worst since April. The steep decline comes just one session after the global index registered a high for 2009. 

Investors are finding out what everybody else already knew: The consumer isn't going to spend the economy into recovery.

Major U.S. stocks indexes tumbled by the biggest amount in six weeks Monday as investors grew worried that they have been too quick to bet on an economic rebound during the market's five-month rally. Overseas markets and commodities plunged, and demand for safe-haven investments sent the dollar and Treasury prices shooting higher.

The Dow Jones industrial average skidded 186 points and all the major indexes fell at least 2 percent. The Nasdaq composite index was hardest hit, dropping 2.8 percent, but it also has had the biggest advance as Wall Street rallied this year.

*The NYSE DOW closed LOWER -186.06 points -2.00% on Monday August 17*
Sym Last........ ........Change.......... 
Dow 9,135.34 -186.06 -2.00% 
Nasdaq 1,930.84 -54.68 -2.75% 
S&P 500 979.73 -24.36 -2.43% 
30-yr Bond 4.3480% -0.0580 

NYSE Volume 5,836,861,000  (prior day 5,743,348,500)
Nasdaq Volume 1,976,202,620  (prior day 1,967,534,120)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,645.01 -68.96 -1.46% 
DAX 5,201.61 -107.50 -2.02% 
CAC 40 3,419.69 -75.58 -2.16% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,268.61 -328.72 -3.10% 
Hang Seng 20,137.07 -756.26 -3.62% 
Straits Times 2,545.98 -85.53 -3.25% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks tumble as investors worry about consumers

Stocks plunge and Treasurys jump on concerns about consumer spending; Dow slides 186 points *
By Tim Paradis, AP Business Writer 
On Monday August 17, 2009, 6:01 pm EDT 

NEW YORK (AP) -- Investors are finding out what everybody else already knew: The consumer isn't going to spend the economy into recovery.

Major U.S. stocks indexes tumbled by the biggest amount in six weeks Monday as investors grew worried that they have been too quick to bet on an economic rebound during the market's five-month rally. Overseas markets and commodities plunged, and demand for safe-haven investments sent the dollar and Treasury prices shooting higher.

The Dow Jones industrial average skidded 186 points and all the major indexes fell at least 2 percent. The Nasdaq composite index was hardest hit, dropping 2.8 percent, but it also has had the biggest advance as Wall Street rallied this year.

A shudder in China's main stock market touched off a wave of selling that spread to Europe and then the U.S. A slide in quarterly profits at home-improvement retailer Lowe's Cos. only added to worries that an improvement in the economy is far off.

Joe Saluzzi, co-head of equity trading at Themis Trading LLC, said the selling was warranted.

"The economics obviously don't support where we've been," he said.

The slide was steep but felt more controlled than the plunges of the past year because stocks ended off of their worst levels and because analysts have been calling for a retreat after the Dow and Standard & Poor's 500 index raced up 15 percent in only five weeks.

The Shanghai stock market tumbled 5.8 percent Monday as investors worried that the Chinese government would tighten bank lending policies. Investors outside China have been hoping that strengthening there would spill over to other economies.

Worries grew when Lowe's said consumers are holding off on some purchases. That's troubling because consumer spending accounts for more than two-thirds of U.S. economic activity.

Some investors used to seeing a quick bounce-back in stocks have underestimated how difficult the recovery could be, even though many analysts have warned that it could take well into 2010 for the economy to regain strength. And some traders seem to be in the same mindset as three years ago, willing to take big chances even when there's little economic or corporate evidence to justify a huge advance.

Now, with consumers facing high unemployment, weak home prices and mounds of debt, investors are worrying that they had grown too optimistic even though the stock market tends to improve before the economy after a recession.

Quincy Krosby, market strategist for Prudential Financial, said some investors are worried that weakness among consumers will hold the economy back.

"Those who are negative say you are not going to see consumers loosen those purse strings in any meaningful way," she said.

The Dow fell 186.06, or 2 percent, to 9,135.34, its lowest close since July 29. The Dow had been down almost 205 points at its low of the day. It was the second straight drop in the index and its sixth in the past nine days. Stocks fell Friday after weak reports on consumer sentiment and retail sales.

The broader S&P 500 index, which is the basis for many investments like mutual funds, fell 24.36, or 2.4 percent, to 979.73. Last week it was up 49.7 percent from a 12-year low of 676 in early March.

It was the biggest slide for the Dow & the S&P 500 index since July 2, when a weak employment report fanned worries about the economy and pushed stocks down more than 2.5 percent.

The Nasdaq fell 54.68, or 2.8 percent, to 1,930.84, its biggest drop since June 22.

About 2,700 stocks fell while only 335 rose on the New York Stock Exchange, where consolidated volume came to a light 5 billion shares and was essentially flat with Friday.

The Dow Jones Wilshire 5000 index, which reflects nearly all stocks traded in America, fell 2.5 percent. That's a paper loss of about $299 billion.

Meanwhile, the yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.47 percent from 3.57 percent late Friday.

Many analysts say stocks have piled on gains too quickly.

"We have come an awful long way. To not expect a sell-off after the degree of increase -- I think you're dreaming," said John Merrill, chief investment officer of Tanglewood Wealth Management in Houston.

The Chicago Board Options Exchange's Volatility Index, also known as the market's fear index, surged 14.9 percent, its biggest one-day increase since April. The VIX stands at 27.9 and is down 30 percent in 2009 and its historical average is 18-20. It hit a record 89.5 in October at the height of the financial crisis.

Overseas, Japan's Nikkei stock average fell 3.1 percent as investors weren't satisfied by news that the country had emerged from recession in the second quarter. Britain's FTSE 100 fell 1.5 percent, Germany's DAX index lost 2 percent, and France's CAC-40 fell 2.2 percent.

Commodities prices fell as investors worried demand would fall. A barrel of crude oil fell 76 cents to settle at $66.75 on the New York Mercantile Exchange. It is down more than 5 percent in two days.

Among stocks, Lowe's fell $2.36, or 10.3 percent, to $20.47. Consumer staples stocks fared best as investors looked for safety. Coca-Cola Co. rose 23 cents to $48.70.

The dollar rose against other major currencies, while gold prices fell.

The Russell 2000 index of smaller companies fell 15.72, or 2.8 percent, to 548.18.


----------



## bigdog

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stock futures point to higher Wall Street open

US stock futures look to rebound on housing data, retail earnings reports *
By Ieva M. Augstums, AP Business Writer 
On Tuesday August 18, 2009, 8:18 am EDT 

U.S. stocks were poised to join a worldwide rebound from Monday's big selloff.

Stock index futures were moderately higher Tuesday, following the lead of overseas markets that rose in part on upbeat economic news from Germany. A research institute has reported that consumer confidence is rising in the country, Europe's largest economy.

However, there is still much uncertainty in the U.S., where retailers are reporting earnings results that show American consumers are still wary. Home Depot Inc. has issued its second-quarter results, joining other retailers in reporting a drop in its sales.

The world's largest home improvement retailer said its second-quarter profit fell 7 percent, but its adjusted results beat Wall Street's expectations, as cost cuts partly offset weak sales. Home Depot also lifted its guidance for full-year earnings.

Dow Jones industrial average futures rose 50, 0.6 percent, to 9,170. Standard & Poor's 500 index futures rose 5.50, or 0.6 percent, to 983.80, while Nasdaq 100 index futures gained 9.75, or 0.6 percent, to 1,576.00.

Some rebound was to be expected after Monday's big drop, which took the Dow down 186 points. Stocks fell sharply and bond prices soared on growing fears that nervous consumers won't be able to spend enough to lift the economy into recovery.

Investors will receive more insight into anxious consumers as Target Corp. and discount retailer TJX Cos. report second-quarter results. Saks Inc. reported that its second-quarter loss widened from a year earlier.

Meanwhile, a Commerce Department report is expected to show the third straight monthly improvement in home construction. Economists surveyed by Thomson Reuters predict the department will say that construction of new homes and apartments grew 3.1 percent in July, while building permits, seen as a good indicator of future activity, rose 3 percent.

The report is scheduled to be released at 8:30 a.m. EDT.

Overseas, Japan's Nikkei stock average rose 0.2 percent. In afternoon trading, Britain's FTSE 100 was up 0.7 percent, while Germany's DAX index was up 0.5 percent and France's CAC-40 was up 0.6 percent.

Meanwhile, bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.51 percent from 3.47 percent late Monday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.18 percent from 0.17 percent late Monday.

The dollar fell against other major currencies, while gold prices rose.

079


----------



## bigdog

bigdog said:


> http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=
> 
> *Stock futures point to higher Wall Street open
> 
> US stock futures look to rebound on housing data, retail earnings reports *
> By Ieva M. Augstums, AP Business Writer
> On Tuesday August 18, 2009, 8:18 am EDT



------------------------------------------------------------------------
NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Stocks made a broad-based rebound from the previous session's sharp decline, but there wasn't much conviction behind the advance since trading volume was exceptionally low. What's more, stocks struggled to break above near-term resistance levels.

Now investors seem to be saying, maybe things aren't so bad after all.

Some better-than-expected retail earnings reports and the latest reading on housing drew investors back into the stock market Tuesday after the previous day's big selloff. The major indexes rose about 1 percent, led by a surge in financial and technology companies.

Investors were still wary about consumer spending and its impact on the economy but heard enough good news to fuel the comeback from Monday's 186-point slide in the Dow Jones industrials. Analysts said investors were putting things in perspective, believing the pullback was a bit overdone.

*The NYSE DOW closed HIGHER +82.60  points +0.90% on Tuesday August 18*
Sym Last........ ........Change.......... 
Dow 9,217.94 +82.60 +0.90% 
Nasdaq 1,955.92 +25.08 +1.30% 
S&P 500 989.67 +9.94 +1.01% 
30-yr Bond 4.3650% +0.0170 

NYSE Volume 4,914,061,500  (prior day 5,836,861,000)
Nasdaq Volume 1,778,054,750 1,976,202,620 (prior day 1,976,202,620)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,685.78 +40.77 +0.88% 
DAX 5,250.74 +49.13 +0.94% 
CAC 40 3,450.69 +31.00 +0.91% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,284.96 +16.35 +0.16% 
Hang Seng 20,306.27 +169.20 +0.84% 
Straits Times 2,567.72 +21.74 +0.85% 

http://finance.yahoo.com/news/Earnings-data-help-stocks-apf-2088212414.html?x=0

*Earnings data help stocks regain ground after drop

Stocks rebound after sharp drop as investors reassured by some retail earnings, housing data *
By Sara Lepro, AP Business Writer 
On Tuesday August 18, 2009, 5:54 pm EDT 

NEW YORK (AP) -- Now investors seem to be saying, maybe things aren't so bad after all.

Some better-than-expected retail earnings reports and the latest reading on housing drew investors back into the stock market Tuesday after the previous day's big selloff. The major indexes rose about 1 percent, led by a surge in financial and technology companies.

Investors were still wary about consumer spending and its impact on the economy but heard enough good news to fuel the comeback from Monday's 186-point slide in the Dow Jones industrials. Analysts said investors were putting things in perspective, believing the pullback was a bit overdone.

The U.S. market was also taking some cues from overseas exchanges, which got a boost from encouraging news about the German economy. And bond prices retreated as investors' anxiety eased.

"The outlook for the economy doesn't change every 24 hours," said Alan Skrainka, chief market strategist at Edward Jones. "The news is always mixed even after you've hit bottom."

Investors have been battling mixed signals on the economy for several weeks; housing and manufacturing have been improving, but consumer spending is still sagging. On Monday, stocks fell by the biggest amount in six weeks as investors' growing fears that consumers won't spend enough to lift the economy into recovery caught up with them.

The earnings reports from retailers on Tuesday showed that American consumers are still shy about spending, but results weren't quite as bad as analysts expected and that helped calm some of investors' nerves.

Meanwhile, the Commerce Department reported that construction of new homes and apartments fell more than expected last month, but construction of single-family homes actually rose 1 percent to the highest level since October 2008. It was the fifth straight monthly increase.

Analysts have warned that the market has gotten ahead of itself and that some pullback is inevitable, given the more than 40 percent climb in stocks since March and the challenges that still exist in high unemployment and waning consumer confidence. But the market continues to show resilience, with any retreat in stocks being brief.

The Dow rose 82.60, or 0.9 percent, to 9,217.94. The Standard & Poor's 500 index gained 9.94, or 1 percent, to 989.67, while the Nasdaq composite index rose 25.08, or 1.3 percent, to 1,955.92.

In other trading, the Russell 2000 index of smaller companies rose 8.25, or 1.5 percent, to 556.43.

About four stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to an extremely light 4.28 billion shares, down from Monday's 5 billion.

Overseas markets also rebounded from steep declines on Tuesday. Japan's Nikkei stock average rose 0.2 percent, a day after Japanese economists and politicians unnerved investors with their cautious stance on the economy, despite a government report showing Japan had emerged from a yearlong recession in the second quarter.

Major European indexes rose after a research institute reported that consumer confidence is rising in Germany, Europe's largest economy. Britain's FTSE 100, Germany's DAX index and France's CAC-40 all added 0.9 percent.

Meanwhile, bond prices dipped after the previous day's big gains, which were a response to investors' nervousness about the economy. The yield on the benchmark 10-year Treasury note, which moves in the opposite direction from its price, rose to 3.52 percent from 3.47 percent late Monday.

John Wilson, chief technical strategist at Morgan Keegan, said he's encouraged that investors keep seeing opportunities in the market's dips.

"Buying tends to come in a little quicker because people have missed the market," he said, referring to the surge in stocks that has taken the S&P 500 index up 12 percent in a little over a month and 45.5 percent since early March. Some investors have held off committing to stocks out of fear the market would go into reverse.

"The data is not going to all of a sudden turn positive," he said. However, "more and more people are beginning to embrace the fact that we're through the worst of the recession."

Investors once again bought stocks that depend on a healthy economy, including financial, industrial and technology companies. Gains in industries that tend to hold up better when the economy is weak, like health care and utilities, were more subdued.

Among technology stocks, Apple Inc. rose $4.41, or 2.8 percent, to $164.00.

The advance in bank stocks came a day after major lenders, including Bank of America Corp. and JPMorgan Chase & Co., reported that losses among credit card loans are slowing.

Bank of America added 34 cents, or 2.1 percent, to $16.90, while JPMorgan rose 97 cents, or 2.4 percent, to $41.70.

Home Depot Inc. said its second-quarter profit fell 7 percent, but its adjusted results beat Wall Street's expectations, as cost cuts partly offset weak revenue. The world's largest home improvement retailer also lifted its forecast for full-year earnings.

Target Corp.'s quarterly profit also fell but it surpassed analyst estimates. And TJX Cos. said its second-quarter profit rose 31 percent as its discount-oriented stores continued to lure in cost-conscious shoppers. Not all the reports were positive, though. Luxury department store Saks Inc. said its loss widened from a year earlier.

Home Depot rose 82 cents, or 3.1 percent, to $26.93. TJX shares lost $1.05, or 3 percent, to $34.33, while Target jumped $3.11, or 7.6 percent, to $44.32.

The dollar lost ground against other major currencies, while gold prices rose.

Oil prices were higher after dropping to a new monthly low on Monday. Light, sweet crude jumped $2.44 to settle at $69.19 a barrel on the New York Mercantile Exchange.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Stocks started the session in the red as participants reacted negatively to further selling pressure overseas, but a jump in oil prices helped the energy sector lead a turnaround that took the broader market to a solid gain above near-term resistance levels. Participation remains unimpressive, though.

The stock market extended a streak of erratic trading Wednesday, rebounding from early losses and rising moderately after a drop in oil inventories lifted hopes for an economic recovery.

All of the major stock indexes finished with gains of less than 1 percent.

The day began with a sharp slide driven by a plunge in China's biggest stock market and followed a trading pattern seen in markets around the world this week. Stocks have alternately advanced and retreated as investors shuttle between worries about the economy's challenges, namely consumer spending and high unemployment, and nascent signs of healing.

*The NYSE DOW closed HIGHER +61.22 points +0.66% on Wednesday August 19*
Sym Last........ ........Change.......... 
Dow 9,279.16 +61.22 +0.66% 
Nasdaq 1,969.24 +13.32 +0.68% 
S&P 500 996.46 +6.79 +0.69% 
30-yr Bond 4.2940% -0.0710 

NYSE Volume 5,024,101,000  (prior day 4,914,061,500)
Nasdaq Volume 1,995,976,375  (prior day 1,778,054,750)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,689.67 +3.89 +0.08% 
DAX 5,231.98 -18.76 -0.36% 
CAC 40 3,450.34 -0.35 -0.01% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,204.00 -80.96 -0.79% 
Hang Seng 19,954.23 -352.04 -1.73% 
Straits Times 2,522.78 -44.94 -1.75% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks turn higher on jump in energy demand

Stocks shake off early losses, turn higher after government reports jump in energy demand *
By Sara Lepro, AP Business Writer 
On Wednesday August 19, 2009, 6:16 pm EDT 

NEW YORK (AP) -- The stock market extended a streak of erratic trading Wednesday, rebounding from early losses and rising moderately after a drop in oil inventories lifted hopes for an economic recovery.

All of the major stock indexes finished with gains of less than 1 percent.

The day began with a sharp slide driven by a plunge in China's biggest stock market and followed a trading pattern seen in markets around the world this week. Stocks have alternately advanced and retreated as investors shuttle between worries about the economy's challenges, namely consumer spending and high unemployment, and nascent signs of healing.

While the surprising decline in crude inventories was reassuring, there is still plenty of caution among investors. Even as stocks recovered, Treasury prices held on to most of their gains. Government debt is a safe-haven investment in a struggling economy.

News from the Energy Department that the nation's oil inventory fell by more than 8 million barrels in the past week sent oil prices and then stocks higher, as investors bet that the decline in stockpiles is an indication that energy demand is rising and the economy is improving.

Stocks' sharp turn shows just how sensitive investors are to the latest bits of news, hungry for any positive signs about the economy and confirmation that the more than 40 percent surge in stocks since March has been warranted.

Analysts say the financial markets are likely to bounce around in the near term as investors try to reconcile their hopes for an economic recovery with the reality that it might not come as fast or be as strong as many people expected.

"Volatility is creeping up," said Brian Nick, investment strategist at Barclays Wealth. "For a while we were seeing volatility steadily declining and maybe we thought we were completely out of the woods when we were not completely out of the woods."

The Dow Jones industrials rose 61.22, or 0.7 percent, to 9,279.16. The Standard & Poor's 500 index rose 6.79, or 0.7 percent, to 996.46, while the Nasdaq composite index rose 13.32, or 0.7 percent, to 1,969.24.

About three stocks rose for every two that fell on the New York Stock Exchange, where volume came to a light 4.35 billion shares, up from Tuesday's 4.28 billion.

The Russell 2000 index of smaller companies rose 5.22, or 0.9 percent, to 561.65.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.46 percent from 3.52 percent late Tuesday. It was trading at about 3.44 percent before the oil report.

Light, sweet crude jumped $3.23 to $72.42 a barrel on the New York Mercantile Exchange.

Analysts said Wall Street's gains on Wednesday were likely magnified by short-covering, in which investors have to buy stock after having earlier sold borrowed shares in a bet they would fall. That rush to cover ill-timed bets can quicken the market's climb.

At the same time, money managers and investors are still afraid of missing out on a rally that began last March and has continued despite period setbacks.

"I think people would like to buy (stocks) lower, but as the market creeps higher, people are kind of forced to buy," said Nick Kalivas, vice president of financial research at MF Global. "The action today especially has been much stronger than I would hope and it is making me nervous about my bearish view."

Still, the advance in bond prices is one sign that investors don't feel secure.

"There's this pushing and pulling type of action because people aren't so convinced that the consumer is going to come out and induce some spending because obviously employment remains weak," said Robert Pavlik, chief market strategist at Banyan Partners.

In earnings news, BJ's Wholesale Club Inc. said its second-quarter profit dipped 4 percent and sales declined because of falling gasoline prices. Still, the warehouse club's results beat analysts' estimates and it raised its full-year profit outlook. It rose 67 cents, or 2.1 percent, to $31.99.

Deere & Co., the world's largest maker of farm equipment, reported a 27 percent drop in its fiscal third-quarter profit, but also did better than Wall Street expected. Deere tumbled $1.31, or 2.9 percent, to $43.78.

Hewlett Packard Co. slipped 13 cents to $43.83 after the company said late Tuesday its profit fell 19 percent in the latest quarter on weak sales. However, the computer company provided an outlook for the fiscal fourth quarter that was better than expected.

Merck & Co. rallied after a federal judge ruled in favor of the drugmaker in a patent fight with an Israeli company that wants to sell a generic version of its top-selling asthma drug. Shares rose 77 cents, or 2.5 percent, to $31.48.

Among energy stocks, Murphy Oil Corp. jumped $1.73, or 3.1 percent, to $58.05, while Exxon Mobil Corp. rose 2.3 percent, adding $1.51 to $68.

The dollar was mixed against other major currencies. Gold prices rose, while other metals prices fell.

Overseas, Japan's Nikkei stock average fell 0.8 percent. Britain's FTSE 100 recovered from early losses to finish up 0.03 percent. Germany's DAX index slipped 0.2 percent, while France's CAC-40 fell 0.1 percent.

The Shanghai index plunged 4.3 percent, after being down as much as 5 percent. The index has lost nearly 20 percent this month on worries about the strength of China's recovery and a possible clamp on Beijing's easy credit policy that helped to fuel the rally in Chinese stocks earlier this year.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Strength among financial stocks and a couple of positive pieces of data helped the broader market overcome an early fit of weakness that stemmed from a disappointing jobless claims report. In turn, stocks logged their third straight session of gains and are now up modestly week-to-date. 

More signs that the economy is creeping toward recovery encouraged investors to move further into stocks -- but at a cautious pace.

Stocks rose moderately Thursday in very light volume. There were no dramatic economic reports, but a smattering of positive data convinced investors to take more chances on stocks. Financials were particularly in demand after a report quoting American International Group Inc.'s CEO as saying the company will repay its bailout loans from the government.

News from the Philadelphia Federal Reserve of a pickup in mid-Atlantic manufacturing also lifted the market, having offset a weaker-than-expected Labor Department report on first-time claims for unemployment.

*The NYSE DOW closed HIGHER +70.89 points +0.76% on Thursday August 20*
Sym Last........ ........Change.......... 
Dow 9,350.05 +70.89 +0.76% 
Nasdaq 1,989.22 +19.98 +1.01% 
S&P 500 1,007.37 +10.91 +1.09% 
30-yr Bond 4.2420% -0.0520 

NYSE Volume 5,640,883,500  (prior day 5,024,101,000)
Nasdaq Volume 2,001,149,875  (prior day 1,995,976,375)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,756.58 +66.91 +1.43% 
DAX 5,311.06 +79.08 +1.51% 
CAC 40 3,505.32 +54.98 +1.59% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225		10,383.41	 +179.41 	+1.76%
Hang Seng		20,328.86	 +374.63 	+1.88%
Straits Times		2,559.57	 +36.79 	+1.46%


http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks advance on more signs of economic pickup

Stocks advance moderately, led by financials as more signs of recovery appear *
By Sara Lepro, AP Business Writer 
On Thursday August 20, 2009, 6:31 pm EDT 

NEW YORK (AP) -- More signs that the economy is creeping toward recovery encouraged investors to move further into stocks -- but at a cautious pace.

Stocks rose moderately Thursday in very light volume. There were no dramatic economic reports, but a smattering of positive data convinced investors to take more chances on stocks. Financials were particularly in demand after a report quoting American International Group Inc.'s CEO as saying the company will repay its bailout loans from the government.

News from the Philadelphia Federal Reserve of a pickup in mid-Atlantic manufacturing also lifted the market, having offset a weaker-than-expected Labor Department report on first-time claims for unemployment.

"I think the headline news just gave more comfort to those who have been and remain of the view that the recession is not only ending but that we are on the cusp of a V-shaped recovery," said David Rosenberg, chief economist and strategist at Gluskin Sheff & Associates.

Stock prices drifted higher through the afternoon. The market seemed to be shaking off some of the fears that had triggered selling in what has been a back-and-forth week, including sharp losses in Chinese shares and concerns about consumer spending.

The Dow Jones industrials rose 70.89, or 0.8 percent, to 9,350.05. The Standard & Poor's 500 index rose 10.91, or 1.1 percent, to 1,007.37, while the Nasdaq composite index gained 19.98, or 1.0 percent, to 1,989.22.

But there were still signs of caution. The low volume, typical for an August day, meant investors weren't piling into the market. It also meant that price movements could be exaggerated.

Consolidated volume on the New York Stock Exchange came to 5 billion shares, up from 4.35 billion on Wednesday. Rising stocks outpaced falling stocks by about 3 to 1 on the NYSE.

Treasury prices closed mixed, having regained some ground from earlier losses, another sign that investors are being careful. Government debt is considered one of the safest places to stash money. The yield on the benchmark 10-year note fell to 3.43 percent from 3.46 percent late Wednesday.

In other trading, the Russell 2000 index of smaller companies rose 7.03, or 1.3 percent, to 568.68.

The dollar was mixed against other major currencies, while gold prices fell.

Crude for October delivery gave up 92 cents to settle at $72.91 on the New York Mercantile Exchange. The September contract, which ends Thursday, advanced 12 cents to settle at $72.54.

Investors were encouraged by the Philadelphia Fed's news that factory activity in the mid-Atlantic region jumped back into positive territory in August, reaching its highest level since November 2007, before the recession began. The report echoed findings earlier this week in a similar survey for the New York region.

Meanwhile, the Conference Board's economic forecasting gauge, the Index of Leading Economic Indicators, rose for the fourth straight month during July, suggesting that the recession will end this summer, if it hasn't already.

The two reports helped counter news from the Labor Department that new claims for unemployment benefits rose unexpectedly to 576,000 last week. Economists had predicted a decline.

Financial stocks, and in turn the rest of the market, got a boost after Bloomberg News quoted AIG's new CEO, Robert Benmosche, as saying the company would repay its bailout loans. The company, which the government saved from collapse nearly a year ago, got a rescue package worth up to $182.5 billion.

AIG shot up 21.3 percent, rising $5.66 to $32.30. Citigroup Inc., another recipient of a large bailout package, rose 35 cents, or 8.5 percent, to $4.48.

The market has been preoccupied with consumer spending during the last week, and signs that consumers won't become more free with their money contributed to the market's down days. But investors took in stride news of Sears Holdings Corp.'s bigger than expected second-quarter loss. Althoug Sears fell nearly 12 percent, falling $8.76 to $65, its pullback didn't spread to the rest of the market.

Trading this week has reflected investors' uncertainty about what the economy's recovery will look like as they've absorbed both positive and negative data.

With earnings season winding down, analysts say there are few catalysts that could spark a big move in stocks in either direction. At the same time, volume is expected to remain light as traders take summer vacations. Without a clear signal and with fewer participants, trading will likely vary day to day for some time depending on the latest economic news.

Overseas, Chinese stocks recovered from a big sell-off with their biggest rally since March and all the major European indexes rose about 1.5 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

All three major indices closed considerably higher Friday. The feat was punctuated by the fact that the advance marked the market's fourth straight gain, which puts stocks at fresh highs for 2009. The latest round of buying came amid continued willingness on the part of participants to chase gains and a better-than-expected existing home sales report. 

For the week, the Dow rose 2.0 percent, the S&P 500 gained 2.2 percent, and the Nasdaq added 1.8 percent.

About four stocks rose for every one that fell Friday on the New York Stock Exchange where volume came to 1.48 billion shares.

Federal Reserve Chairman Ben Bernanke said what investors wanted to hear, that the economy is indeed on the verge of recovery, and they responded with a rally that sent the major indexes to new highs for the year.

The Dow Jones industrials shot up 155 points Friday, closing above 9,500 for the first time since Nov. 4, and all the big indexes finished with gains of more than 1.5 percent. Meanwhile, Treasury prices tumbled, pushing yields sharply higher, as investors no longer felt they needed the safety of government debt.

The stock market's gains were broad, reaching across all industries, but the biggest jumps came from energy, industrial and material stocks as oil and commodities prices soared. Bank stocks also rose sharply.

*The NYSE DOW closed HIGHER +155.91 points +1.67% on Friday August 21*
Sym Last........ ........Change.......... 
Dow 9,505.96 +155.91 +1.67% 
Nasdaq 2,020.90 +31.68 +1.59% 
S&P 500 1,026.13 +18.76 +1.86% 
30-yr Bond 4.3590% +0.1170 

NYSE Volume 6,759,808,000  (prior day 5,640,883,500)
Nasdaq Volume 2,282,947,750  (prior day 2,001,149,875)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,850.89 +94.31 +1.98% 
DAX 5,462.74 +151.68 +2.86% 
CAC 40 3,615.81 +110.49 +3.15% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,238.20 -145.21 -1.40% 
Hang Seng 20,199.02 -129.84 -0.64% 
Straits Times 2,544.86 -14.71 -0.57% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks rise as Bernanke says economy near recovery

Stocks rise after Bernanke declares economy on verge of recovery, home sales jump *
By Sara Lepro, AP Business Writer 
On Friday August 21, 2009, 5:31 pm EDT 

 NEW YORK (AP) -- Federal Reserve Chairman Ben Bernanke said what investors wanted to hear, that the economy is indeed on the verge of recovery, and they responded with a rally that sent the major indexes to new highs for the year.

The Dow Jones industrials shot up 155 points Friday, closing above 9,500 for the first time since Nov. 4, and all the big indexes finished with gains of more than 1.5 percent. Meanwhile, Treasury prices tumbled, pushing yields sharply higher, as investors no longer felt they needed the safety of government debt.

The stock market's gains were broad, reaching across all industries, but the biggest jumps came from energy, industrial and material stocks as oil and commodities prices soared. Bank stocks also rose sharply.

Just nine days after the Fed declared the economy to be "leveling out" rather than contracting, Bernanke went further, saying, "the prospects for a return to growth in the near term appear good." Speaking at an annual Fed conference in Wyoming, Bernanke did warn that lending is not back to normal, and that the difficulty consumers and businesses are having obtaining loans will be a challenge. But his tone was the most optimistic it has been since the start of the financial crisis.

A bigger-than-expected jump in home sales also gave stocks a boost and helped send bonds lower. The National Association of Realtors said sales of existing homes rose 7.2 percent to a seasonally adjusted annual rate of 5.24 million in July, from a pace of 4.89 million in June.

It was the fourth straight monthly increase and the highest level of sales since August 2007. The rise in sales came amid a sharp decline in home prices.

The day's news ended a week of erratic trading on Wall Street. Investors have been struggling with concerns about consumer spending, but the combination of Bernanke's remarks and the home sales data pulled stocks out of the doldrums.

Still, while Bernanke's positive assessment on the economy was encouraging, the market's challenges, including rising unemployment and sluggish consumer spending, are certainly far from over. The market appears to be on an upward trajectory, but analysts cautioned that stocks will likely bounce around through at least the rest of the summer.

"The news isn't going to be all good from here on out," said Jordan Smyth, managing direct at Edgemoor Investment Advisors in Bethesda, Md.

The Dow rose 155.91, or 1.7 percent, to 9,505.96. The Standard & Poor's 500 index rose 18.76, or 1.9 percent, to 1,026.13, its highest close since Oct. 6. And the Nasdaq composite index rose 31.68, or 1.6 percent, to 2,020.90, reaching its highest close since Oct. 1.

For the week, the Dow rose 2.0 percent, the S&P 500 gained 2.2 percent, and the Nasdaq added 1.8 percent.

About four stocks rose for every one that fell Friday on the New York Stock Exchange where volume came to 1.48 billion shares.

Bond prices tumbled. The yield on the benchmark 10-year Treasury note, which moves opposite its price, jumped to 3.56 percent, from 3.44 percent late Thursday.

The Russell 2000 index of smaller companies rose 12.83, or 2.3 percent, to 581.51.

In other signs of investors' growing confidence in the economy, oil prices touched their highest point of the year on hopes that energy demand will soon pick up. After briefly nearly $75, light, sweet crude for October delivery rose 98 cents to settle at $73.89 a barrel on the New York Mercantile Exchange.

And the dollar, which, like Treasurys, is considered a safe-haven asset, tumbled against other major currencies.

While Bernanke's comments were clearly reassuring for the stock market, investors could quickly lose their optimism if one of their greatest concerns, consumer spending, shows more signs of weakness. The Fed's upbeat comments last week set off a rally that quickly stalled after a weak reading on consumer sentiment.

Next week, investors will get two key reports on consumer confidence that, if worse than expected, could easily upset the market's gains.

"We're not past the volatile stages of the market," said Lowell Pratt, president of The Burney Co., an equity management firm.

As job losses continue to mount, it will be difficult for consumers to feel comfortable about spending freely.

"Consumer spending normally is the driver of recoveries at the beginning," said Bob Baur, chief global economist at Principal Global Investors. "That's not happening this time."

"At some point, the market is going to ask to see more than just mixed data," he said. "It's going to want to see some real jobs produced and an end to job losses and some validation that the consumer isn't going to stay in a slump."

Analysts have long warned of an eventual decline in stocks after the market's massive jump since early March, during which major indexes have risen more than 40 percent off of 12-year lows. But the market has yet to see a significant pullback.

Overseas, Japan's Nikkei stock average fell 1.4 percent. Britain's FTSE 100 gained 2.0 percent, Germany's DAX index jumped 2.9 percent, and France's CAC-40 soared 3.2 percent.
262


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The broader market was led higher in the early going by financial stocks, but the sector succumbed to an afternoon selling effort that caused it to upend the major indices. In turn, the S&P 500 settled just below the neutral line, but that was still enough to end its winning streak at four sessions. 

Stocks in the S&P 500 looked as if they were going to make their fifth straight advance as buyers chased the stock market's recent advances for fear of missing out on future gains. Their rather bullish bias was further supported by broad-based buying overseas and came in the face of a warning from New York University Professor Roubini about a double-dip recession in a Financial Times article.

Investors slowed their hectic buying of stocks Monday, leaving the major indexes little changed after a four-day advance.

Stocks pulled back from early highs as financials, which have been surging lately, retreated. Meanwhile, Treasury prices rallied ahead of the next round of debt auctions.

Analysts had expected a pause after stocks soared last week, lifting the Dow Jones industrials 370 points. The advance picked up momentum Friday after Federal Reserve Chairman Ben Bernanke declared that the economy is on the verge of recovery.

*The NYSE DOW closed HIGHER +3.32 points +0.03% on Monday August 24*
Sym Last........ ........Change.......... 
Dow 9,509.28 +3.32 +0.03% 
Nasdaq 2,017.98 -2.92 -0.14% 
S&P 500 1,025.57 -0.56 -0.05% 
30-yr Bond 4.2880% -0.0710 

NYSE Volume 7,118,115,500  (prior day 6,759,808,000)
Nasdaq Volume 2,057,206,250  (prior day 2,282,947,750)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,896.23 +45.34 +0.93% 
DAX 5,519.75 +57.01 +1.04% 
CAC 40 3,652.17 +36.36 +1.01% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,581.05 +342.85 +3.35% 
Hang Seng 20,535.94 +336.92 +1.67% 
Straits Times 2,612.33 +67.47 +2.65% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks pause from recent gains, financials retreat

Stocks pause after 4 days of gains as investors take some profits ahead of data *
By Sara Lepro, AP Business Writer 
On Monday August 24, 2009, 5:50 pm EDT 

NEW YORK (AP) -- Investors slowed their hectic buying of stocks Monday, leaving the major indexes little changed after a four-day advance.

Stocks pulled back from early highs as financials, which have been surging lately, retreated. Meanwhile, Treasury prices rallied ahead of the next round of debt auctions.

Analysts had expected a pause after stocks soared last week, lifting the Dow Jones industrials 370 points. The advance picked up momentum Friday after Federal Reserve Chairman Ben Bernanke declared that the economy is on the verge of recovery.

"I think people still believe there are signs of recovery here, but it doesn't hurt to take a little bit of profits," said Alan Villalon, senior research analyst at First American Funds.

Market experts have been warning, though, the market's upbeat mood could be tested with reports this week on consumer confidence and housing. Some signs of recovery have emerged already in housing, but consumers are still struggling. Improved consumer confidence and spending is widely seen as one of the keys that could help end the recession.

"We're lining up here in advance of the data this week," said James Cox, managing partner at Harris Financial Group. "This is a good time to get out."

Bank shares gave up some of their early gains and traded mixed, weighed down by losses among regional banks. Investors have been worried that smaller banks could face significant hardships in the coming months as losses among commercial real estate loans pile up.

In a research note late Sunday, Rochedale Securities banking analyst Richard Bove predicted that 150 to 200 more U.S. banks could fail in the current banking crisis on top of the 81 banks that have already failed this year.

The Dow rose 3.32, or less than 0.1 percent, to 9,509.28, after earlier rising as much as 82 points. The Standard & Poor's 500 index fell 0.56, or 0.1 percent, to 1,025.57, while the Nasdaq composite index fell 2.92, or 0.1 percent, to 2,017.98.

Advancing issues were slightly ahead of losers on the New York Stock Exchange, where consolidated volume came to 6.32 billion shares, up from Friday's 5.98 billion.

In other trading, the Russell 2000 index of smaller companies slipped 1.27, or 0.2 percent, to 580.24.

Bond prices rose as investors prepared for $197 billion in auctions this week. The yield on the benchmark 10-year Treasury note fell to 3.48 percent from 3.57 percent late Friday, while the yield on the three-month T-bill fell to 0.15 percent from 0.16 percent.

The markets have been choppy as investors react to mixed economic data, but managed last week to post four straight advances. The Standard & Poor's 500 index is up 52 percent since early March.

"We still think there is a lot of fear out there," said Ryan Detrick, chief technical strategist at Schaeffer's Investment Research. "The economy has to validate what the stock market has done."

Justin Golden, strategist at Macro Risk Advisors in New York, said some of the market's gains have been magnified by short-covering, in which investors have to buy stock after having earlier sold borrowed shares in a bet they would fall.

"A lot of bear investors have thrown in the towel," he said. "That shouldn't be confused with people being ultra bullish about the market."

Investors were also anxious ahead of the Conference Board's consumer confidence index on Tuesday, and the Reuters/University of Michigan report on consumer sentiment Friday. The Standard & Poor's/Case-Shiller index on home prices for June will be released Tuesday, while the Commerce Department reports on new home sales for July on Wednesday.

Japan's Nikkei stock average surged 3.4 percent, while China's main index was up for a third straight day, gaining 1.1 percent. A slide in the index last week triggered selling around the world.

Britain's FTSE 100 rose 0.9 percent, while Germany's DAX index and France's CAC-40 rose 1.0 percent.

Oil prices rose 48 cents to $74.37 a barrel on the New York Mercantile Exchange.

The dollar rose slightly against other major currencies, while gold prices fell.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Stocks spiked to a gain of more than 1% following a better-than-expected consumer confidence reading, but the major indices quickly faltered to settle the session with modest gains. Though that made for an unimpressive finish, the gain helped stocks register a new closing high for 2009. 

The major indices hit session highs in the moments following the Consumer Confidence Index for August, which came in at 54.1. That was above the 47.9 that was widely expected and marked an improvement from the upwardly revised July reading of 47.4. However, market participants should remember that consumer confidence is not highly correlated with actual spending.

A rebound in consumer confidence and more healing in the housing industry have put stocks back on an upward path.

Banks, retailers and homebuilders were Tuesday's biggest winners, helping to lift the major indexes about 0.3 percent. Energy and utility stocks fell sharply, and limited the overall market's advance, as oil prices cooled following a recent surge.

Though investors were pleased by better-than-expected readings on consumers and housing, trading was choppy, as it has been over the past week, a reflection of the market's lingering caution. Investors are questioning how much further Wall Street's five-month rally can go without evidence of actual economic growth.

*The NYSE DOW closed HIGHER +30.01 points +0.32% on Tuesday August 25*
Sym Last........ ........Change.......... 
Dow 9,539.29 +30.01 +0.32% 
Nasdaq 2,024.23 +6.25 +0.31% 
S&P 500 1,028.00 +2.43 +0.24% 
30-yr Bond 4.2300% -0.0580 

NYSE Volume 6,576,661,500  (prior day 7,118,115,500)
Nasdaq Volume 1,955,550,500  (prior day 2,057,206,250

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,916.80 +20.57 +0.42% 
DAX 5,557.09 +37.34 +0.68% 
CAC 40 3,680.61 +28.44 +0.78% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,497.36 -83.69 -0.79% 
Hang Seng 20,435.24 -100.70 -0.49% 
Straits Times 2,620.48 +8.15 

http://finance.yahoo.com/news/Gain-...8.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Gain in consumer confidence sends stocks higher

Stocks finish higher after rebound in consumer confidence, home prices; Dow rises for 6th day *
By Sara Lepro, AP Business Writer 
On Tuesday August 25, 2009, 6:06 pm EDT 

 NEW YORK (AP) -- A rebound in consumer confidence and more healing in the housing industry have put stocks back on an upward path.

Banks, retailers and homebuilders were Tuesday's biggest winners, helping to lift the major indexes about 0.3 percent. Energy and utility stocks fell sharply, and limited the overall market's advance, as oil prices cooled following a recent surge.

Though investors were pleased by better-than-expected readings on consumers and housing, trading was choppy, as it has been over the past week, a reflection of the market's lingering caution. Investors are questioning how much further Wall Street's five-month rally can go without evidence of actual economic growth.

Still, the Dow Jones industrials have been able to carve out a gain of nearly 404 points, or 4.4 percent, in just six sessions.

"The upward trend has still not broken," said Brian Daley, sales trader at Conifer Securities. "It's too dangerous to fight the trend in the market, even though clearly a lot of people are nervous that it's too extended."

Stocks rose after the Conference Board said its Consumer Confidence Index jumped to 54.1 this month from an upwardly revised 47.4 in July. That was far above the 47.5 reading analysts expected. But the report is a long way from showing that consumers are actually feeling optimistic about the economy amid ongoing worries about job losses. But it does suggest pessimism about the economy is abating.

Meanwhile, the Standard & Poor's/Case-Shiller U.S. National Home Price Index rose 1.4 percent in the second quarter from the January-March period, the first quarterly increase in three years. Home prices, while still down almost 15 percent from last year, are at levels last seen in early 2003.

The improvements in consumer confidence and housing are related. If consumers are feeling better about the economy, they will be willing to spend a little more on houses, not to mention cars, appliances and other goods and materials. Investors' concerns about flagging consumer confidence have triggered bouts of stock selling in recent weeks.

Stocks also got a boost from President Barack Obama's reappointment of Ben Bernanke as Federal Reserve chairman. Bernanke's reappointment, though expected, came sooner than anticipated and removed any uncertainty about a potential replacement.

The Dow rose 30.01, or 0.3 percent, to 9,539.29. The Standard & Poor's 500 index rose 2.43, or 0.2 percent, to 1,028.00, while the Nasdaq composite index rose 6.25, or 0.3 percent, to 2,024.23.

About three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to 5.74 billion shares, down from Monday's 6.32 billion.

In other trading, the Russell 2000 index of smaller companies rose 2.98, or 0.5 percent, to 583.22.

Energy-related stocks fell after oil prices tumbled $2.32 to $72.02 a barrel on the New York Mercantile Exchange. Prior to trading Tuesday, prices had climbed 8.1 percent in just 5 days. Halliburton Co. fell 76 cents, or 3 percent, to $24.52. Chesapeake Energy Corp. lost 59 cents, or 2.5 percent, to $23.35.

The market's moderate advance on Tuesday, which came after stocks finished little changed the day before, follows a trend seen throughout the summer, where any dip in stocks or pause in trading is met with more buying as investors fear missing out on an extended rally.

"It's still a trader's market," said Steven Stahler, president of The Stahler Group. "You've got a lot of activity ... but not real legs."

Analysts expect the market to be volatile through at least the end of the summer, especially with volume and news flow fairly light, as is typical of trading in August.

Homebuilders posted some of the biggest gains Tuesday after the home price data. Hovnanian Enterprises Inc. jumped 6.5 percent, adding 28 cents to $4.57, while Lennar Corp. rose 40 cents, or 2.8 percent, to $14.97.

Financial stocks rebounded after sagging on Monday in response to an analyst's downbeat report. Bank of America Corp. rose 40 cents, or 2.3 percent, to $17.75. Retailers also rose. Shares of Big Lots Inc. soared more than 6 percent, rising $1.57 to $25.60 after its second-quarter results beat analysts' expectations and the discount retailer raised its full-year earnings forecast.

Bond prices came off earlier lows and moved slightly higher after an auction of $42 billion in two-year notes was met with adequate demand. The yield on the benchmark 10-year Treasury note fell to 3.44 percent from 3.48 percent late Monday. The yield on the two-year note slipped to 1.02 percent from 1.03 percent.

The dollar was mostly lower against other major currencies, while gold prices rose.

The gains in the U.S. came amid mixed trading in overseas markets. Japan's Nikkei stock average fell 0.8 percent. Britain's FTSE 100 rose 0.4 percent, Germany's DAX index rose 0.7 percent, and France's CAC-40 gained 0.8 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Despite some encouraging economic data, stocks had a listless session and made another lackluster finish. Nonetheless, the major indices managed to eke out a fractional gain, which means that the Dow has finished higher seven straight times. 

After rocking between gains and losses Wednesday, the Dow Jones industrials managed to rise for a seventh straight day, marking another high for the year.

But there was hardly any excitement. The Dow rose just 4 points, while other major indexes gained less than 1 point despite positive reports on home sales and factory orders.

An increasingly cautious mood has gripped the market in recent days, following a period of fervid buying this spring and summer that sent stocks up more than 45 percent since early March. While economic data is showing modest improvement, investors are worried stocks may have overshot the economy's recovery.


*The NYSE DOW closed HIGHER +4.23 points +0.04% on Wednesday August 26*
Sym Last........ ........Change.......... 
Dow 9,543.52 +4.23 +0.04% 
Nasdaq 2,024.43 +0.20 +0.01% 
S&P 500 1,028.12 +0.12 +0.01% 
30-yr Bond 4.20% -0.03 

NYSE Volume 5,775,125,500  (prior day 6,576,661,500)
Nasdaq Volume 2,091,980,120  (prior day 1,955,550,500)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,890.58 -26.22 -0.53% 
DAX 5,521.97 -35.12 -0.63% 
CAC 40 3,668.34 -12.27 -0.33% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,639.71 +142.35 +1.36% 
Hang Seng 20,456.32 +21.08 +0.10% 
Straits Times 2,631.81 +13.05 +0.50% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks eke out small gains, Dow higher for 7th day

Stocks finish choppy session mostly higher; Dow rises for 7th straight day to new 2009 highs *
By Sara Lepro, AP Business Writer 
On Wednesday August 26, 2009, 5:47 pm EDT 

NEW YORK (AP) -- The stock market is running out of reasons to go higher.

After rocking between gains and losses Wednesday, the Dow Jones industrials managed to rise for a seventh straight day, marking another high for the year.

But there was hardly any excitement. The Dow rose just 4 points, while other major indexes gained less than 1 point despite positive reports on home sales and factory orders.

An increasingly cautious mood has gripped the market in recent days, following a period of fervid buying this spring and summer that sent stocks up more than 45 percent since early March. While economic data is showing modest improvement, investors are worried stocks may have overshot the economy's recovery.

"The market jumps and then it sort of fades again," said Keith Walter, portfolio manager at Artio Global Equity Fund. "There's not a lot of commitment here."

With trading volume and news flow tapering down amid Wall Street's annual summer slowdown, analysts say there are few near-term catalysts that could get the market's rally going again.

"We seem to be floating up on air," said Andrew Frankel, co-president of Stuart Frankel & Co.

Stocks seesawed without a clear direction despite a Commerce Department report that said new home sales rose 9.6 percent in July for the fourth straight monthly increase. Sales rose to 433,000, the strongest pace since September and well above the 390,000 figure economists expected.

The latest sign of improvement in housing didn't do much to impress investors, though, who have already factored in a recovery in the long-suffering home industry. Some of the latest gains can be attributed to a federal tax credit for first-time home owners currently set to expire in November, and the industry has been pressing Congress to extend it.

Separately, the Commerce Department said orders for goods expected to last at least three years rose 4.9 percent in July -- the biggest jump in two years and more than the 3 percent increase economists had expected.

However the overall increase was driven by a surge in orders for transportation equipment, which benefited from the government's recently expired Cash for Clunkers program that drove thousands of people to trade in older cars for new ones. Excluding transportation goods, orders rose 0.8 percent, just short of analysts' expectations.

The Dow rose 4.23, or 0.04 percent, to 9,543.52. Over the past seven days, the Dow has risen 408 points, or 4.5 percent. The last time the Dow posted such a long winning streak was on July 21, when its seven-day gain came to 770 points, or 9.4 percent.

The Standard & Poor's 500 index rose 0.12, or 0.01 percent, to 1,028.12, while the Nasdaq composite index rose 0.20, or 0.01 percent, to 2,024.43.

Declining stocks narrowly outnumbered advancers on the New York Stock Exchange, where consolidated volume came to a light 5.10 billion shares, down from 5.74 billion shares on Tuesday.

In other trading, the Russell 2000 index of smaller companies rose 0.80, or 0.1 percent, to 584.02.

Shares of homebuilders surged for a second day after the housing data showed the supply of new homes on the market shrank to the lowest level since April 2007. If supply is decreasing, builders may need to ramp up production.

Hovnanian Enterprises Inc. rose 43 cents, or 9.4 percent, to $5, tacking on to its 6.5 percent jump the day before. The stock is now at its highest level since October. Lennar Corp. rose 61 cents, or 4.1 percent, to $15.58 -- its highest point since September.

Sharp declines in industrial and material stocks weighed on the market as commodities prices wavered. A long rally in commodities prices that started earlier this year has been sputtering in recent weeks amid concerns of waning demand from China.

Oil prices fell further Wednesday after the government reported an increase in crude supplies. Light, sweet crude fell 62 cents to $71.43 a barrel on the New York Mercantile Exchange.

Government bond prices were little changed despite favorable demand at an auction of $39 billion in five-year notes. The yield on the benchmark 10-year Treasury note held steady at 3.44 percent.

The dollar mostly rose against other major currencies. Gold prices were flat.

Overseas, Japan's Nikkei stock average rose 1.4 percent. Britain's FTSE 100 fell 0.5 percent, Germany's DAX index fell 0.6 percent, and France's CAC-40 lost 0.3 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Weakness underscored the first part of the session as little attention was given to the latest dose of economic data, but a positive tone emerged in afternoon trading as select financial stocks were squeezed higher and a sudden drop by the U.S. dollar helped lift energy and materials stocks. Their combined strength helped lead a midday recovery effort that gave the Dow its eighth straight advance, a feat that hasn't been accomplished in years. 

The stock market's rally plodded along Thursday, sustained by gains in financial and industrial shares.

Major indexes overcame early losses and finished slightly higher, including the Dow Jones industrial average, which added 37 points to set a fresh 2009 high. The Dow has risen for eight straight days, its longest winning streak since April 2007.

Trading lacked enthusiasm, however, as it has over the past week, with many investors shying away from making greater commitments to stocks.

*The NYSE DOW closed HIGHER +37.11 points +0.39% on Thursday August 27*
Sym Last........ ........Change.......... 
Dow 9,580.63 +37.11 +0.39% 
Nasdaq 2,027.73 +3.30 +0.16% 
S&P 500 1,030.98 +2.86 +0.28% 
30-yr Bond 4.23% +0.03 

NYSE Volume 6,545,776,500  (prior day 5,775,125,500)
Nasdaq Volume 2,162,436,250  (prior day 2,091,980,120)

Gold 945.00 -0.50 -0.05% 
Oil 72.65 +0.16 +0.22% 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,869.35 -21.23 -0.43% 
DAX 5,470.33 -51.64 -0.94% 
CAC 40 3,648.53 -19.81 -0.54% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,473.97 -165.74 -1.56% 
Hang Seng 20,242.75 -213.57 -1.04%  
Straits Times 2,644.48 +16.05 +0.61%

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stock market reverses early losses, plods higher

Gains in financials help stocks erase early losses and finish higher; Dow rises for eighth day *
By Sara Lepro, AP Business Writer 
On Thursday August 27, 2009, 5:34 pm EDT 

 NEW YORK (AP) -- The stock market's rally plodded along Thursday, sustained by gains in financial and industrial shares.

Major indexes overcame early losses and finished slightly higher, including the Dow Jones industrial average, which added 37 points to set a fresh 2009 high. The Dow has risen for eight straight days, its longest winning streak since April 2007.

Trading lacked enthusiasm, however, as it has over the past week, with many investors shying away from making greater commitments to stocks.

Volume has been extremely light as many traders go on vacation, adding to the market's recent choppiness. The day's economic news, including a slightly smaller-than-expected dip in initial unemployment claims and a benign reading on gross domestic product, did little to excite investors.

Analysts say the market has been running on its own momentum more than anything else, adding that a lot of the improving economic data has already been priced into stocks.

A lot of activity has also been driven by short-covering, analysts say, which tends to amplify gains in the market. Short-covering occurs when investors have to buy stock after having earlier sold borrowed shares in a bet they would fall.

Traders have been anticipating a pullback for weeks, but the dips that have occurred tend to be met with more buying.

"There is just too much cash sitting on the sidelines," said Phil Orlando, chief equity market strategist at Federated Investors.

After giving up as much as 84 points early on, the Dow rose 37.11, or 0.4 percent, to close at 9,580.63. The Dow's eight-day advance totals 445 points, or 4.9 percent.

The Standard & Poor's 500 index rose 2.86, or 0.3 percent, to 1,030.98, while the Nasdaq composite index rose 3.30, or 0.2 percent, to 2,027.73.

Both the S&P 500 and the Nasdaq composite indexes have finished higher seven out of the past eight days, rising about 5 percent over that period.

About eight stocks rose for every seven that fell on the New York Stock Exchange, where consolidated volume came to 5.82 billion shares, compared with 5.10 billion shares on Wednesday.

Despite the run-up in stocks, investors are nervous about overextending the market's massive spring and summer rally, in which stocks have risen more than 45 percent off of 12-year lows since early March.

"You tend to have those moves run out of steam at some time," said Art Hogan, chief market analyst at Jefferies & Co.

Big gains in a handful of financial stocks helped to turn the market around. Shares of American International Group Inc. surged nearly 27 percent, rising $10.15 to $47.84, as analysts speculated the company might be reconciling with former CEO Maurice "Hank" Greenberg, who could help bring private capital to the company. AIG shares have more than doubled in eight days.

CIT Group Inc. jumped 22.8 percent, adding 29 cents to $1.56. Citigroup Inc. rose 42 cents, or 9.1 percent, to $5.05.

Shares of Boeing Co. rose, giving a boost to the Dow, after the company said its long-delayed 787 aircraft will be ready for its first flight by the end of this year. Shares jumped $4, or 8.4 percent, to $51.82.

Energy stocks, which had weighed on the market early in the day, pulled off of their lows as oil prices turned higher. Like stocks, oil prices have been extremely volatile in recent weeks as investors try to determine whether current prices are warranted given still weak demand.

Crude for October delivery added $1.06 to settle at $72.49 a barrel on the New York Mercantile Exchange.

Among the economic news Thursday, the Labor Department said first-time jobless claims fell 10,000 last week to 570,000, just shy of economists' expectations. Workers continuing to file for benefits, however, fell more than expected, declining to 6.13 million from 6.25 million in the previous week. It was the lowest level for continuing claims since early April.

Meanwhile, a Commerce Department report showed the economy shrank at a 1 percent annualized rate in the second quarter. The updated figure was unchanged from a preliminary reading on GDP, and slightly better than the 1.5 percent decline that was forecast.

Bond prices were mostly lower even after a strong auction of seven-year notes. The yield on the 10-year note rose to 3.46 percent from 3.44 percent.

The dollar was mixed, while gold prices inched higher.

In other trading, the Russell 2000 index of smaller companies slipped 0.25, or 0.04 percent, to 583.77.

Asian stocks fell after China said it would cut investment in some industries. Japan's Nikkei stock average lost 1.6 percent, while China's main index fell 0.7 percent.

Britain's FTSE 100 fell 0.4 percent, Germany's DAX index fell 0.9 percent, and France's CAC-40 lost 0.5 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 38.24, or 0.4 percent, at 9,544.20. The Standard & Poor's 500 index rose 2.80, or 0.3 percent, to 1,028.93. The Nasdaq composite index rose 7.87, or 0.4 percent, to 2,028.77.

Thanks to some strong announcements from a few key tech players, stocks were able to build on the previous session's upward momentum and start Friday considerably higher. However, stocks were unable to hold their initial gains as the belief that recent positive announcements have already been priced into stocks prompted sellers to book profits. That resulted in a lackluster finish for the major indices. 

Investors balked at extending the market's recent rally Friday despite an improved outlook from Intel Corp.

Stocks closed mostly lower, as losses among health care stocks offset small gains in technology companies. The Dow Jones industrials lost about 36 points, breaking an eight-day winning streak.

Trading was quiet, as it has been all week, as summer vacations kept many traders out of the market. With fewer participants, the market lost some of its recent momentum that had sent the major indexes up about 5 percent in less than two weeks.


*The NYSE DOW closed LOWER -36.43 points -0.38% on Friday August 28*
Sym Last........ ........Change.......... 
Dow 9,544.20 -36.43 -0.38% 
Nasdaq 2,028.77 +1.04 +0.05% 
S&P 500 1,028.93 -2.05 -0.20% 
30-yr Bond 4.21% -0.02 

NYSE Volume 6,504,707,000  (prior day 6,545,776,500)
Nasdaq Volume 2,376,566,500  (prior day 2,162,436,250)

Gold 945.00 -0.50 -0.05% 
Oil 72.86 +0.37 +0.51% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,908.90 +39.55 +0.81% 
DAX 5,517.35 +47.02 +0.86% 
CAC 40 3,693.14 +44.61 +1.22% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,534.14 +60.17 +0.57% 
Hang Seng 20,098.62 -144.13 -0.71% 
Straits Times 2,642.80 +0.57 +0.02% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks mostly lower; Nasdaq buoyed by Intel news

Market rally loses steam, stocks finish mostly lower even after Intel raises sales forecast *
By Sara Lepro, AP Business Writer 
On Friday August 28, 2009, 6:26 pm EDT 

NEW YORK (AP) -- Investors balked at extending the market's recent rally Friday despite an improved outlook from Intel Corp.

Stocks closed mostly lower, as losses among health care stocks offset small gains in technology companies. The Dow Jones industrials lost about 36 points, breaking an eight-day winning streak.

Trading was quiet, as it has been all week, as summer vacations kept many traders out of the market. With fewer participants, the market lost some of its recent momentum that had sent the major indexes up about 5 percent in less than two weeks.

Stocks managed to carve out their sixth weekly advance in seven weeks, but the gains were minimal.

Wall Street turned cautious this week as investors worried that the market's rally, now closing in on six months, may have run its course.

Investors are especially nervous as they head into September, historically the stock market's worst month. Last September, which saw the collapse of Lehman Brothers and the kickoff of the worst financial crisis in decades, is still fresh in investors' minds.

"Tuesday begins one of the most feared months of the calendar," said Lawrence Creatura, portfolio manager at Federated Clover Investment Advisors.

The first week of September 2009 will bring a key report on manufacturing activity, which has been improving, as well as the Labor Department's tally of job losses in August -- the month's most telling piece of economic data. Last month, news that employers cut fewer jobs in July and the unemployment rate fell sent stocks soaring.

On Friday, the Dow fell 36.43, or 0.4 percent, to 9,544.20. The Standard & Poor's 500 index fell 2.05, or 0.3 percent, to 1,027.76, while Nasdaq composite index rose 1.04, or 0.1 percent, to 2,028.77.

The market got an initial boost after Intel, the world's largest maker of computer chips, raised the top end of its sales forecast for the current quarter from $8.9 billion to $9.2 billion.

Intel's upbeat report came after computer maker Dell Inc. posted better-than-expected results for its May-July quarter late Thursday. While sales continued to fall because of reduced spending by consumers and businesses, Dell said it has seen signs of improvement.

Investors also got more data Friday on the consumer, a focal point for investors in recent weeks worried that sluggish spending will hinder the economy's recovery.

The Commerce Department said consumer spending rose 0.2 percent in July, which was in line with economists' expectations. The latest report also said personal income was flat in July. Economists had expected a 0.2 percent increase.

Growth in spending and consumer confidence has been hampered by rising unemployment. Investors are hoping next week's jobs report will provide more evidence that job losses are slowing.

As of Friday, both the Dow and the S&P 500 are on track to have their best Augusts since 2000, each up just over 4 percent for the month. That's well above the S&P 500's 20-year average of a negative return of 0.5 percent in August.

Most of the gains were made last week, after Federal Reserve Chairman Ben Bernanke's upbeat assessment of the economy sent investors clamoring for stocks. This week, the Dow and the Nasdaq gained just 0.4 percent, while the S&P 500 rose 0.3 percent.

Bond prices edged higher. The yield on the 10-year Treasury note fell to 3.45 percent from 3.46 percent late Thursday.

Oil rose 25 cents to settle at $72.74 on the New York Mercantile Exchange. Oil hit $75 during the week, a high for the year.

The dollar fell against other major currencies, while gold prices rose.

Advancing issues narrowly outpaced decliners on the New York Stock Exchange, where volume came to a relatively low 5.81 billion shares, down from 5.82 billion on Thursday.

The Dow Jones industrial average closed the week up 38.24, or 0.4 percent, at 9,544.20. The Standard & Poor's 500 index rose 2.80, or 0.3 percent, to 1,028.93. The Nasdaq composite index rose 7.87, or 0.4 percent, to 2,028.77.

The Russell 2000 index, which tracks the performance of small company stocks, fell 1.65, or 0.3 percent, for the week to 581.51.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 10,579.61, up 27.35, or 0.3 percent, for the week. A year ago, the index was at 13,288.52.

649


----------



## bigdog

I wish to include the "S&P Volume" data in my daily posting.

I would very much appreciate if someone could please advise me the S&P Volume Symbol

^TV.N = NYSE Volume
^TV.O = Nasdaq Volume
-- I have tried all the other letters!!


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Both stocks and commodities spent the entire session trading with considerable weakness as a broad-based selling effort took hold following a steep sell-off in China's Shanghai Composite Index. 

The Shanghai Composite dropped 6.7% on Monday to hit a three-month closing low and log its second worst monthly performance in 15 years amid valuation concerns and fears that tighter lending in China will impede the flow of investment funds. Investors and traders responded to the selling effort by sending many of the major global averages lower. In turn, the Dow Jones World Index lost 0.8%. 

After giving the stock market a big gain during August, investors still worried about the economy backtracked the final day of the month.

Stocks fell in light trading Monday after a 6.7 percent plunge in China's main stock market sent a wave of selling around the world and added to concerns that stocks have rocketed too high, too fast since hitting 12-year lows in March.

The Standard & Poor's 500 index rose 3.4 percent in August for its sixth straight monthly gain, advancing despite some periodic choppy trading as investors fretted about an economic recovery. It is up 50.9 percent since early March, the best six-month run since 1938.

*The NYSE DOW closed LOWER -47.92 points -0.50% on Monday August 31*
Sym Last........ ........Change.......... 
Dow 9,496.28 -47.92 -0.50% 
Nasdaq 2,009.06 -19.71 -0.97% 
S&P 500 1,020.62 -8.31 -0.81% 
30-yr Bond 4.1810% -0.0270 

NYSE Volume 6,013,961,500  (prior day 6,504,707,000)
Nasdaq Volume 2,349,098,000  (prior day 2,376,566,500)

Gold 945.00 -0.50 -0.05% 
Oil 69.80 -0.16 -0.23% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,908.90 closed for holiday (Aug 31)
DAX 5,464.61 -52.74 -0.96% 
CAC 40 3,653.54 -39.60 -1.07% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,492.53 -41.61 -0.40% 
Hang Seng 19,724.19 -374.43 -1.86% 
Straits Times 2,605.39 -37.41 -1.42% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks end strong month with a bout of selling

Stocks slide after drop in Asia; Caution grows among investors look to often difficult month *
By Tim Paradis, AP Business Writer 
On Monday August 31, 2009, 6:16 pm EDT 

NEW YORK (AP) -- After giving the stock market a big gain during August, investors still worried about the economy backtracked the final day of the month.

Stocks fell in light trading Monday after a 6.7 percent plunge in China's main stock market sent a wave of selling around the world and added to concerns that stocks have rocketed too high, too fast since hitting 12-year lows in March.

The Standard & Poor's 500 index rose 3.4 percent in August for its sixth straight monthly gain, advancing despite some periodic choppy trading as investors fretted about an economic recovery. It is up 50.9 percent since early March, the best six-month run since 1938.

Monday's trading followed a pattern seen several times during August, with U.S. stocks falling alongside other world markets after China's Shanghai exchange slid on uneasiness about that country's economy. If China is struggling, its problems could affect the recoveries in other countries including the United States.

Meanwhile, investors awaited the start of September, which has been the worst month for the stock market over the past 80 years. And this September begins with many analysts questioning whether investors have bet too soon on a recovery as they sent stocks soaring this year. Reports due Tuesday on manufacturing and employment on Friday could upend the market's six-month-old rally or help push it forward.

The drop in stocks Monday was broad and a 48-point drop in the Dow Jones industrial average was the biggest in two weeks. Energy and materials stocks posted some of the biggest losses as prices for commodities like crude and copper slid on concerns that demand from China would fall.

The retreat in stocks shaved some gains from the best August since 2000. For the month, the Dow rose 3.5 percent and the Nasdaq composite index rose 1.5 percent.

Since its low in March, the Dow is up 45.1 percent and the Nasdaq is up 58.4 percent.

"The markets have been looking like they've been somewhat reluctant to hold their gains over the last couple of sessions," said Blaze Tankersley, chief market strategist at Bay Crest Partners, adding that the news from China gave investors a good excuse to sell.

Still, the market has had some breaks in its march higher. Analysts have been saying all along that some back-and-forth was to be expected as investors, while generally optimistic about the future, have been reluctant to commit wholeheartedly to stocks.

The Dow fell 47.92, or 0.5 percent, to 9,496.38. The S&P 500 index slid 8.31, or 0.8 percent, to 1,020.62, while the Nasdaq dropped 19.71, or 1 percent, to 2,009.06.

The Russell 2000 index of smaller companies fell 7.79, or 1.3 percent, to 572.07.

Three stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 5.3 billion shares, compared with 5.8 billion Friday. Light volume can skew price moves. It is often light in late summer as some traders take vacations.

Japan's Nikkei stock average fell 0.4 percent after the country's opposition party came to power in a landslide victory. Germany's DAX index fell 1 percent, while France's CAC-40 lost 1.1 percent. The London Stock Exchange was closed for a holiday.

China's Shanghai Composite Index is down more than 20 percent from its peak in early August. That leaves the index in bear market territory as investors worry that a tightening in bank lending could hurt the country's economy.

"As China goes, so goes a lot of the rest of the world," said Brian Nick, investment strategist at Barclays Wealth.

Oil tumbled $2.78 to settle at $69.96 a barrel on the New York Mercantile Exchange. Copper fell 4.2 percent. Gold also fell as the dollar was mixed against other major currencies.

Demand for the safety of government debt rose, underscoring the market's uneasiness. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.40 percent from 3.45 percent late Friday.

Commodities producers fell. Aluminum maker Alcoa posted the biggest drop among the 30 stocks that make up the Dow, falling 45 cents, or 3.6 percent, to $12.05. Freeport-McMoRan Copper & Gold Inc. slid $2.50, or 3.8 percent, to $62.98.

Investors looked past an improvement in Midwest business conditions. The Chicago Purchasing Managers index, which measures business activity in Illinois, Michigan and Indiana, jumped to 50.0 in August from 43.4 in July, ending 10 consecutive months of drops.

The index is considered a precursor to the Institute for Supply Management's manufacturing index, which is due Tuesday. A reading above 50 indicates growth in manufacturing, something that hasn't happened since January 2008.

Trading is expected to be light this week but several important reports could sway the market.

The government's monthly jobs report on Friday will draw the most attention. Economists are expecting another 220,000 jobs were lost, down from 247,000 in July.

Last month's report showed an unexpected dip in the unemployment rate and investors are anxious to see whether the rate continues to fall. If fewer jobs are being lost, consumers might start to feel comfortable spending again.

Investors cheered improvements in consumer confidence in August and an upbeat assessment of the economy from Federal Reserve Chairman Ben Bernanke but analysts warn September could prove difficult.

Sam Stovall, chief investment strategist for U.S. equity research at S&P, noted that since 1929 the S&P 500 index has lost an average 1.3 percent for the month. But the index has gained about 2 percent in the 14 Septembers that followed the end of bear markets.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The belief that stocks are overbought and that they already reflect positive economic data prompted participants to make a concerted and broad-based push against stocks. That made for an ominous start to September as nearly 95% of the companies in the S&P 500 logged losses this session. Such weakness seemed fitting, though, since September has historically been a weak month for stocks.

A stock market ripe for a big pullback succumbed Tuesday, plunging when rumors of a bank failure revived investors' anxiety about the banking industry and the economy as a whole.

A batch of economic reports that just weren't good enough added to the mix as the major indexes all fell about 2 percent and the Dow Jones industrials slid 185 points. Treasury prices, usually the beneficiary of a slide in stocks, ended only moderately higher.

A break in the market's six-month rally was widely expected after investors showed a growing inclination to sell for some time. While the major indexes finished August with respectable gains, including a 3.4 percent rise in the Standard & Poor's 500, trading was erratic and the advances had a half-hearted feeling. Analysts warned that investors were doubting whether they should have bid stocks so high in the rally that began in early March.

*The NYSE DOW closed LOWER -185.68 points -1.96% on Tuesday August 1*
Sym Last........ ........Change.......... 
Dow 9,310.60 -185.68 -1.96% 
Nasdaq 1,968.89 -40.17 -2.00% 
S&P 500 998.04 -22.58 -2.21% 
30-yr Bond 4.1980% +0.0170 

NYSE Volume 8,014,731,500  (prior day 6,013,961,500)
Nasdaq Volume 2,813,597,000  (prior day 2,349,098,000)

Gold 945.00 -0.50 -0.05% 
Oil 68.36 -1.60 -2.29% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,819.70 -89.20 -1.82% 
DAX 5,327.29 -137.32 -2.51% 
CAC 40 3,583.44 -70.10 -1.92% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,530.06 +37.53 +0.36% 
Hang Seng 19,872.30 +148.11 +0.75% 
Straits Times 2,596.39 +3.49 



http://finance.yahoo.com/news/Worries-about-banks-drag-apf-4251104718.html?x=0
Worries about banks drag stock market lower
Stocks tumble as traders juggle worries about health of banks, size of market's six-month run 
By Sara Lepro and Tim Paradis, AP Business Writers 
On Tuesday September 1, 2009, 6:38 pm EDT 

NEW YORK (AP) -- A stock market ripe for a big pullback succumbed Tuesday, plunging when rumors of a bank failure revived investors' anxiety about the banking industry and the economy as a whole.

A batch of economic reports that just weren't good enough added to the mix as the major indexes all fell about 2 percent and the Dow Jones industrials slid 185 points. Treasury prices, usually the beneficiary of a slide in stocks, ended only moderately higher.

A break in the market's six-month rally was widely expected after investors showed a growing inclination to sell for some time. While the major indexes finished August with respectable gains, including a 3.4 percent rise in the Standard & Poor's 500, trading was erratic and the advances had a half-hearted feeling. Analysts warned that investors were doubting whether they should have bid stocks so high in the rally that began in early March.

So it wasn't surprising that, after the Dow was up 60 points in response to a seemingly better-than-expected reading on manufacturing, something like a rumor about a possible bank failure could take the market down.

"Some time midmorning, rumors came out that a large bank could be in trouble," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. "That's all it takes to spook this market."

The rumors were never substantiated.

The Dow's drop virtually equaled a 186-point slide two weeks ago that the market later recovered from, sending stocks to their highest levels in almost 10 months. Dan Deming, a trader with Strutland Equities in Chicago, said it didn't appear much had changed in the market since then, but investors have grown more nervous as stocks have pushed higher and that was enough to tip off heavy selling.

"It's really more psychological right now than anything. The first day of September -- the market shows some weakness and then it just kind of starts to feed on itself," he said. "Everybody is kind of looking over their shoulder."

Deming referred to the fact that many investors had some fear of what might happen in September, which historically has been the worst month for stocks. Many analysts said the change in calendar was one of many factors that created a critical mass of sorts for the market and fueled Tuesday's drop.

Banks and insurance companies were among the most notable losers amid the fears of bank failures, but they also had been pumped up the most in the rally that lifted the market more than 50 percent since hitting 12-year lows in March. With the government reporting last week that 400 banks were in trouble during the second quarter, investors' anxiety about the health of the financial industry was heightened and so rumors that investors might shrug off in less fractious times became powerful enough to cause sustained losses.

The plunge in stocks came even as the Institute for Supply Management reported that U.S. manufacturing grew in August for the first time since January 2008. The market also shrugged off another positive economic report, the sixth straight monthly increase in pending home sales.

On the surface, the day's economic numbers were good. A deeper look at the data gave some cause for concern.

Analysts said both the manufacturing and housing reports got a boost from government stimulus efforts, including the Cash for Clunkers program that has since expired, which means the recovery in those industries may not continue at the same pace.

"In both cases it seems headlines overstate details by a touch," said Tom di Galoma, head of U.S. rates trading at Guggenheim Capital Markets LLC. "People reviewed the numbers and said this type of demand is just not sustainable."

Investors were also uneasy ahead of Friday's employment report from the government, which could reveal more bad news about the job market, one of the worst remaining problem areas in the U.S. economy.

The Dow dropped 185.68, or 2 percent, to 9,310.60. The index is down 270 points, or 2.8 percent, since Friday, its biggest drop over three days since July 7, when it lost 341 points.

The S&P 500 fell 22.58, or 2.2 percent, to 998.04, while the Nasdaq composite index fell 40.17, or 2 percent, to 1,968.89.

The day's retreat was broad:

-- Of the 30 stocks that make up the Dow industrials, only Wal-Mart Stores Inc. rose.

-- Five stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 7 billion shares compared with a light 5.3 billion Monday.

-- The Chicago Board Options Exchange's Volatility Index, known as the market's fear index, surged 12.1 percent, its biggest jump since Aug. 17. The VIX stands at 29.2 and is down 27 percent in 2009 and its historical average is 18-20. It hit a record 89.5 in October at the height of the financial crisis.

In other trading, the Russell 2000 index of smaller companies fell 14.01, or 2.5 percent, to 558.06.

Bond prices turned mostly higher after stocks began to fall and investors went in search of safer assets. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.36 percent from 3.40 percent late Monday.

Among financial stocks, Bank of America Corp. fell $1.13, or 6.4 percent, to $16.46, while JPMorgan Chase & Co. dropped $1.79, or 4.1 percent, to $41.67. Citigroup Inc. fell 46 cents, or 9.2 percent, to $4.54.

There was one gainer in the Dow: Wal-Mart Stores Inc. rose 10 cents to $50.97.

While the pullback in stocks Tuesday was significant, even with the drop, stocks have risen so much that only one of the roughly 3,100 stocks traded on the NYSE hit a new annual low. And, 53 carved new highs.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Despite plenty of trading catalysts, participants kept stocks confined to a relatively narrow trading range as they allowed the previous session's sell-off to consolidate in low-volume trade.

The stock market extended its slide to a fourth day as investors worried that a weak job market will trip up a recovery in the economy.

Stocks posted modest losses Wednesday, a day after tumbling on fears about the health of banks and concerns that a six-month rally of 50 percent has left the stock market overheated. The Dow Jones industrial average lost another 30 points after skidding 186 points Tuesday.

A private sector report on unemployment gave investors new reason to fret about what is widely seen as the biggest problem facing the economy. The ADP National Employment Report found that employment fell by 298,000 in August following a revised loss of 360,000 jobs in July. The losses were the smallest since September 2008 but more than analysts had expected.

*The NYSE DOW closed LOWER -29.93 points -0.32% on Wednesday September 2*
Sym Last........ ........Change.......... 
Dow 9,280.67 -29.93 -0.32% 
Nasdaq 1,967.07 -1.82 -0.09% 
S&P 500 994.75 -3.29 -0.33% 
30-yr Bond 4.1040% -0.0940 

NYSE Volume 6,749,287,500  (prior day 8,014,731,500)
Nasdaq Volume 2,001,814,620 (prior day 2,813,597,000)

Gold 945.00 -0.50 -0.05% 
Oil 68.35 +0.30 +0.44% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,817.55 -2.15 -0.04% 
DAX 5,319.84 -7.45 -0.14% 
CAC 40 3,573.13 -10.31 -0.29% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,280.46 -249.60 -2.37% 
Hang Seng 19,522.00 -350.30 -1.76% 
Straits Times 2,569.93 -26.46 -1.02% 

http://finance.yahoo.com/news/Stocks-fade-as-traders-worry-apf-712486094.html?x=0
*Stocks fade as traders worry about unemployment

Stocks fall to extend slide as investors worry that unemployment will short-circuit recovery* 
By Tim Paradis, AP Business Writer 
On Wednesday September 2, 2009, 5:44 pm EDT 

 NEW YORK (AP) -- The stock market extended its slide to a fourth day as investors worried that a weak job market will trip up a recovery in the economy.

Stocks posted modest losses Wednesday, a day after tumbling on fears about the health of banks and concerns that a six-month rally of 50 percent has left the stock market overheated. The Dow Jones industrial average lost another 30 points after skidding 186 points Tuesday.

A private sector report on unemployment gave investors new reason to fret about what is widely seen as the biggest problem facing the economy. The ADP National Employment Report found that employment fell by 298,000 in August following a revised loss of 360,000 jobs in July. The losses were the smallest since September 2008 but more than analysts had expected.

The report shapes expectations for the Labor Department's monthly reading on jobs, which is due Friday. Unemployment has hit consumer spending, which accounts for about 70 percent of U.S. economic activity. Without more help from consumers, the economy will have trouble pulling out of the longest recession since World War II.

"Until Friday's data comes, no one is really making any big bets," said Neil Massa, senior trader at MFC Global Investment Management. "A little profit-taking looks healthy at this point."

Analysts said the market's ability to avoid another steep drop was a good sign but cautioned that trading volume remains light ahead of the Labor Day holiday. Weak volume can skew the market's moves and makes it difficult to draw conclusions about investor sentiment.

"We need these periods of backing off," said Darin Newsom, senior analyst at DTN in Omaha, Neb. "When there is no news to really spark the interest that we need to take this thing higher, the inclination is to sell off."

Even with stocks down for four days, major market indicators have given up only two week's worth of gains. The Standard & Poor's 500 is up 47 percent from a 12-year low on March 9.

The Dow fell 29.93, or 0.3 percent, to 9,280.67, pushing its four-day slide to 300 points, or 3.1 percent. The index crossed between gains and losses 108 times as it traded in the second tightest point range this year.

The S&P 500 index fell 3.29, or 0.3 percent, to 994.75, while the Nasdaq composite index fell 1.82, or 0.1 percent, to 1,967.07.

Bond prices rose, pushing down yields. The yield on the benchmark 10-year Treasury note fell to 3.31 percent from 3.36 percent late Tuesday.

An increase in worker productivity couldn't shake investors' concerns about the economy. The Labor Department said output grew in the spring at the fastest pace in nearly six years while labor costs fell by the most in nine years. Productivity is the biggest factor in determining living standards because companies can afford to pay more if output increases.

Investors also were disappointed by the Commerce Department's report that factory orders rose 1.3 percent in July. That fell short of a 2.2 percent increase analysts expected, according to a survey by Thomson Reuters.

In other trading, the dollar slipped against other major currencies, while gold prices rose.

Light, sweet crude finished unchanged at $68.05 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies fell 2.23, or 0.4 percent, to 555.83.

Three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume came to 6 billion shares compared with 7 billion Tuesday.

Overseas, Britain's FTSE 100 slipped less than 0.1 percent, while Germany's DAX index fell 0.1 percent and France's CAC-40 lost 0.3 percent. Japan's Nikkei stock average tumbled 2.4 percent after the drop Tuesday in the U.S.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

A late squeeze gave stocks a strong finish after they had spent most of the session in a rather narrow range that was largely underscored by thin trading. Though there were several trading catalysts to drive action this session, the overall mood among participants was subdued ahead of the August nonfarm jobs report. 

A near 5% spike by China's stock market helped stir a positive bias ahead of the U.S. open. However, another dismal dose of jobless claims disrupted the strong tone. Initial claims for the week ending Aug. 29 totaled 570,000, down just 4,000 from the previous week, but slightly more than the 564,000 that were expected. The week-over-week increase took the 4-week moving average up to 571,300, leaving economists with the impression that the weekly trend isn't headed lower any time soon. 

Investors moved back into stocks after a four-day slide on hopes that a key government report on unemployment will confirm that the economy is gaining strength.

The Dow Jones industrial average tacked on 64 points Thursday after sliding 300 points since Friday. Stocks held to a tight range for much of the day in light trading as some investors squeezed in late-summer vacations. Those remaining braced for the August jobs report, which is due before the opening bell Friday.

The biggest gains came in the final half-hour, with the Dow doubling its advance, as some traders looked to buy ahead of the jobs data. Economists expect the unemployment rate to edge up to 9.5 percent from 9.4 percent, while the number of layoffs is expected to slow to 225,000 from 247,000. Some economists have raised their expectations in recent weeks but the sunnier forecasts leave the market more vulnerable to disappointment.

*The NYSE DOW closed HIGHER +63.94 points +0.69%  on Thursday September 3*
Sym Last........ ........Change.......... 
Dow 9,344.61 +63.94 +0.69% 
Nasdaq 1,983.20 +16.13 +0.82% 
S&P 500 1,003.24 +8.49 +0.85% 
30-yr Bond 4.1500% +0.0460 

NYSE Volume 5,369,914,000  (prior day 6,749,287,500)
Nasdaq Volume 1,869,939,250  (prior day 2,001,814,620)

Gold 945.00 -0.50 -0.05% 
Oil 68.11 +0.06 +0.09% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,796.75 -20.80 -0.43% 
DAX 5,301.42 -18.42 -0.35% 
CAC 40 3,553.51 -19.62 -0.55% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,214.64 -65.82 -0.64% 
Hang Seng 19,761.68 +239.68 +1.23% 
Straits Times 2,598.36 +28.43 +1.11% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks break 4-day slide ahead of jobs report

Stocks carve modest gains after 4 days of losses; investors await August employment data *
By Tim Paradis, AP Business Writer 
On Thursday September 3, 2009, 5:50 pm EDT 

NEW YORK (AP) -- Investors moved back into stocks after a four-day slide on hopes that a key government report on unemployment will confirm that the economy is gaining strength.

The Dow Jones industrial average tacked on 64 points Thursday after sliding 300 points since Friday. Stocks held to a tight range for much of the day in light trading as some investors squeezed in late-summer vacations. Those remaining braced for the August jobs report, which is due before the opening bell Friday.

The biggest gains came in the final half-hour, with the Dow doubling its advance, as some traders looked to buy ahead of the jobs data. Economists expect the unemployment rate to edge up to 9.5 percent from 9.4 percent, while the number of layoffs is expected to slow to 225,000 from 247,000. Some economists have raised their expectations in recent weeks but the sunnier forecasts leave the market more vulnerable to disappointment.

The latest snapshot on employment Thursday offered investors little to go on ahead of Friday's report. The Labor Department said the number of people filing for unemployment claims fell last week by 4,000 to 570,000 while the number of people receiving benefits rose. Economists had been expecting a bigger drop, and the report served as a reminder of how difficult a recovery in employment will be.

Reports from retailers offered more insight into consumers' troubles. Many remain focused on necessities, though some are starting to open their wallets. Overall sales were still weak but many companies including Gap Inc. and Costco Wholesale Corp. posted results that topped investors' expectations.

Trading has been jittery in the past two weeks because some investors who have placed big bets on a recovery are worried that unemployment will make it hard for the economy to pull out of the longest recession since World War II. Consumer spending accounts for about 70 percent of U.S. economic activity.

By last month, major stock indicators like the Standard & Poor's 500 index had jumped more than 50 percent from 12-year lows in early March. Analysts say the latest slide was a necessary adjustment for the market, even though it erased only about two weeks worth of gains. Traders become nervous if stocks climb too quickly without a break, which is seen as an indicator of indiscriminate buying.

"We had a bit of reality catching up with expectations," said Bill Stone, chief investment strategist at PNC Wealth Management.

The Dow rose 63.94, or 0.7 percent, to 9,344.61. The S&P 500 index rose 8.49, or 0.9 percent, to 1,003.24, while the Nasdaq composite index rose 16.13, or 0.8 percent, to 1,983.20.

Three stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to a light 4.7 billion shares compared with 6 billion Wednesday.

Bond prices fell, pushing the yield on the 10-year note up to 3.35 percent from 3.31 percent.

Analysts say the dearth of market participants going in to the long Labor Day weekend has added to the market's choppiness.

"I wouldn't want to read too much into anything until we get into next week," said Alan Brown, group chief investment officer at Schroders in London, referring to the light trading volume.

The dollar was mixed, while gold prices extended their recent climb.

Oil fell 9 cents to settle at $67.96 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 6.66, or 1.2 percent, to 562.49.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week down 102.93, or 1.1 percent, at 9,441.27. The Standard & Poor's 500 index fell 12.53, or 1.2 percent, to 1,016.40. The Nasdaq composite index fell 9.99, or 0.5 percent, to 2,018.78.

Buyers continued to push stocks higher in the face of some rather ugly unemployment headlines as strong momentum from the previous session and pent up buying fed a positive bias. 

Stocks jumped in light trading Friday after the government reported that the pace of job losses slowed in August to the lowest level in a year.

The Dow Jones industrial average gained 97 points to halve its loss for the week after the Labor Department said employers cut fewer workers last month. However, the report also showed that the ranks of the unemployed swelled to 9.7 percent, the highest level since June 1983.

Analysts had been expecting the rate to increase to 9.5 percent after unexpectedly dipping in July. The increase initially spooked the market, but stocks later recovered their losses and moved higher. Many economists expect the rate to top 10 percent by early next year.

*The NYSE DOW closed HIGHER +96.66 points +1.03% on Friday September 4*
Sym Last........ ........Change.......... 
Dow 9,441.27 +96.66 +1.03% 
Nasdaq 2,018.78 +35.58 +1.79% 
S&P 500 1,016.40 +13.16 +1.31% 
30-yr Bond 4.27% +0.12  

NYSE Volume 4,756,504,000  (prior day 5,369,914,000)
Nasdaq Volume 1,742,961,000  (prior day 1,869,939,250)

Gold 945.00 -0.50 -0.05% 
Oil 67.79 -0.17 -0.25% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,851.70 +54.95 +1.15% 
DAX 5,384.43 +83.01 +1.57% 
CAC 40 3,598.76 +45.25 +1.27% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,187.11 -27.53 -0.27% 
Hang Seng 20,318.62 +556.94 +2.82% 
Straits Times 2,622.69 +24.33 +0.94%

http://finance.yahoo.com/news/Stocks-jump-as-jobs-report-apf-671400286.html?x=0
*Stocks jump as jobs report provides a little hope

Stocks jump as government reports employers cut fewer jobs last month; Dow gains 97 points *
By Tim Paradis, AP Business Writer 
On Friday September 4, 2009, 5:56 pm EDT 

 NEW YORK (AP) -- Stocks jumped in light trading Friday after the government reported that the pace of job losses slowed in August to the lowest level in a year.

The Dow Jones industrial average gained 97 points to halve its loss for the week after the Labor Department said employers cut fewer workers last month. However, the report also showed that the ranks of the unemployed swelled to 9.7 percent, the highest level since June 1983.

Analysts had been expecting the rate to increase to 9.5 percent after unexpectedly dipping in July. The increase initially spooked the market, but stocks later recovered their losses and moved higher. Many economists expect the rate to top 10 percent by early next year.

Employers cut 216,000 jobs last month, fewer than the 276,000 lost in July and better than the 225,000 figure analysts had been expecting. Traders said it was an encouraging sign that the labor market could righting itself.

"The overall picture is things are getting better," said Ryan Larson, senior equity trader at Voyageur Asset Management.

Unemployment is widely seen as the economy's biggest hurdle to recovery, and concerns about it have been weighing on the stock market. As long as job losses remain high, consumers could hold off spending money, which the U.S. economy badly needs to resume growth.

"The market is looking at directional changes, and so at this state of the economic recovery I think the fact that you see unemployment rising shouldn't be that surprising," said Thomas K. R. Wilson, managing director, institutional investments group at Brinker Capital in Berwyn, Pa.

Analysts said that the thin trading volume before the long holiday weekend made it difficult to conclude that a shift in investor sentiment was occurring. Markets will be closed on Monday for Labor Day.

Stock trading has been erratic over the past few weeks as a six-month rally slowed on worries that the market's rise of more than 50 percent since March has been overdone.

The Dow rose 96.66, or 1 percent, to 9,441.27. The Standard & Poor's 500 index rose 13.16, or 1.3 percent, to 1,016.40, while the Nasdaq composite index added 35.58, or 1.8 percent, to 2,018.78.

About four stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to a low 4.1 billion shares, compared with 4.7 billion Thursday.

For the week, the Dow lost 103 points, or 1.1 percent. The S&P 500 index lost 1.2 percent and the Nasdaq slipped 0.5 percent.

Some analysts said the market overreacted to the jobs report. Dan Cook, senior market analyst at IG Markets in Chicago, said the economy isn't strong enough to support the market at its current levels.

"Employers are not going to be looking to add to staffs any time soon," Cook said.

Still, there were signs that investors were becoming less fearful after a four-day slide in stocks that ended Thursday. The losses included a 186-point plunge on Monday that came on worries about the health of banks and the overall economy.

Demand for the safety of government debt fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.45 percent from 3.35 percent late Thursday.

The Chicago Board Options Exchange's Volatility Index -- known as the market's "fear index" -- fell 6.8 percent to 25.3. It's down 36.9 percent in 2009 and its historical average is 18-20. It surged to a record 89.5 in October at the height of the financial crisis.

Analysts said a test of the market will come later in the month as traders return from vacation and raise more questions about whether investors have bet too soon the economy's ability to recover.

In downturns in the past 60 years, the S&P 500 index has reached a bottom an average of four months before a recession ended and about nine months before unemployment reached its peak. The index, which is the basis of many mutual funds, hit a 12-year low in March.

Some traders are also concerned about the market's track record for September, which has been the worst month for stocks over the past 80 years. Since 1929, the S&P 500 index has lost an average 1.3 percent during the month. But the index has gained about 2 percent in the 14 Septembers that followed the end of bear markets.

In other trading, the dollar was mixed against other major currencies, while gold prices retreated after hitting a six-month high of near $1,000.

Light, sweet crude rose 6 cents to settle at $68.02 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 8.01, or 1.4 percent, to 570.50.

Overseas, Britain's FTSE 100 rose 1.2 percent, Germany's DAX index rose 1.6 percent, and France's CAC-40 added 1.3 percent. Japan's Nikkei stock average fell 0.3 percent.

The Dow Jones industrial average closed the week down 102.93, or 1.1 percent, at 9,441.27. The Standard & Poor's 500 index fell 12.53, or 1.2 percent, to 1,016.40. The Nasdaq composite index fell 9.99, or 0.5 percent, to 2,018.78.

The Russell 2000 index, which tracks the performance of small company stocks, fell 9.36, or 1.6 percent, for the week to 570.50.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 10,451.47, down 128.14, or 1.2 percent

052


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*The NYSE DOW was CLOSED for labour day Monday September 7*

European and Asian stocks rose Monday after finance officials from 20 rich and developing countries pledged to keep in place their massive stimulus programs to prop up the global economy.

News of corporate takeover activity, with Cadbury jumping 37.8 percent after rejecting a takeover offer from Kraft, also helped stocks start the week well on a day when Wall Street will be closed for the Labor Day holiday.

Germany's DAX closed up 1.5 percent, to 5,463.51, while Britain's FTSE 100 gained 1.7 percent, to 4,933.18. France's CAC-40 added 1.5 percent, to 3,652.83.

Benchmarks in Japan, Hong Kong and China added about 1 percent or more after Beijing said it would allow greater access to foreign investors.

*The NYSE DOW was CLOSED for labour day Monday September 7*
Sym Last........ ........Change.......... 
Dow 9,441.27 closed for labor day
Nasdaq 2,018.78 closed for labor day
S&P 500 1,016.40  closed for labor day
30-yr Bond 4.27%  closed for labor day

Gold 945.00 -0.50 -0.05% 
Oil 68.07 +0.05 +0.07% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,933.18 +81.48 +1.68% 
DAX 5,463.51 +79.08 +1.47% 
CAC 40 3,652.83 +54.07 +1.50% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,320.94 +133.83 +1.31% 
Hang Seng 20,629.31 +310.69 +1.53% 
Straits Times 2,628.34 +5.65 +0.22% 

http://finance.yahoo.com/news/Stocks-rise-after-G20-say-apf-1329915979.html?x=0

*Stocks rise after G-20 say stimulus will stay

European, Asian markets advance after G-20 countries commit to keeping stimulus in place *
By Carlo Piovano, AP Business Writer 
On Monday September 7, 2009, 12:35 pm EDT 

LONDON (AP) -- European and Asian stocks rose Monday after finance officials from 20 rich and developing countries pledged to keep in place their massive stimulus programs to prop up the global economy.

News of corporate takeover activity, with Cadbury jumping 37.8 percent after rejecting a takeover offer from Kraft, also helped stocks start the week well on a day when Wall Street will be closed for the Labor Day holiday.

Germany's DAX closed up 1.5 percent, to 5,463.51, while Britain's FTSE 100 gained 1.7 percent, to 4,933.18. France's CAC-40 added 1.5 percent, to 3,652.83.

Benchmarks in Japan, Hong Kong and China added about 1 percent or more after Beijing said it would allow greater access to foreign investors.

Investors reacted positively to the weekend announcements from finance officials at the Group of 20 summit in London, which acknowledged some improvements in economic growth but warned recovery was not sustainable without continued help from governments in the form of deficit spending, low interest rates and efforts to expand the money supply.

"It will come as a relief to markets that G-20 central bankers and finance ministers agreed that it was too early to begin withdrawing massive fiscal, monetary and financial support," said Mitul Kotecha, analyst at Calyon.

Markets had been worried that nascent signs of economic recovery would lead countries to unwind their stimulus, but the G-20 dispelled those fears.

"It is hardly surprising that officials are not formulating an early exit from emergency measures, especially given the ongoing uncertainty about the pace and shape of global economic recovery," said Kotecha.

He said growing doubts about the duration of an economic rebound will "pose a risk to the sustainability of any equity rally over coming months" as stocks look increasingly overvalued.

"Amongst the factors needed is some clarity about the pace and shape of growth once stimulus is reversed."

Stock markets were also helped by upbeat corporate and economic news.

Kraft Foods Inc.'s proposed 10.2 billion pounds ($16.7 billion) takeover of Cadbury PLC was immediately rejected as too low by the British maker of chocolate, gum and candy, but Kraft said it was determined to find an adequate offer.

"A key question is whether there is a counter bid, most likely from a Nestle-led consortium," said Graham Jones, analyst at Panmure Gordon & Co. "However, we see the most likely scenario being Kraft being successful on improved terms."

In Germany, industrial orders rose 3.5 percent on the month in July, suggesting the worst of a global slump in demand may be past for the export-dependent country.

"Despite some volatility in the data over the past few months, there is now rising evidence of a more broad-based demand for German capital goods and intermediate goods," said analysts at Calyon.

In Asia, Chinese stocks continued their recovery after the government said it would allow foreign investors to sink more money into the mainland's markets.

In Hong Kong, the Hang Seng was up 1.5 percent at 20,629.31. Shanghai's main benchmark gained 0.7 percent to 2,881.12.

Japan's Nikkei 225 stock average added 133.83 points, or 1.3 percent, to 10,320.94, snapping a three-day losing streak. Australia's index edged up 0.4 percent, Taiwan rose 1 percent and Indonesia's benchmark gained 0.4 percent. Markets in Korea and Singapore were little changed.

On Friday in the U.S., investors pushed stocks up after data showed the unemployment rate rose in August but that jobs were being cut at a slower pace.

The Dow rose 1 percent to 9,441.27, the Standard & Poor's 500 index rose 1.3 percent to 1,016.40 and the Nasdaq added 1.8 percent to 2,018.78.

Wall Street will reopen on Tuesday.

Oil prices were up, with benchmark crude for October delivery up 15 cents at $68.17, as investors looked to this week's OPEC meeting for a possible change in the cartel's production. The contract rose 6 cents Friday to settle at $68.02.

The dollar slipped to 92.82 yen from 92.95 yen Friday night, while the euro rose to $1.4337 from $1.4309.

Associated Press writer Jeremiah Marquez in Hong Kong contributed to this report.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Thanks to broad-based buying, the S&P 500 made solid gains in its first trading session of the week, but the broad market benchmark encountered resistance as it approached last week's highs. Still, stocks settled near their best levels of the session. 

Rising commodity prices and stirrings of corporate takeovers are making investors more optimistic about the economy.

Stocks rose for the third straight day Tuesday following gains among materials and energy stocks.

Gold topped $1,000 an ounce for the first time since February and oil jumped more than $3 a barrel as investors look for more ways to profit from an improving economy. A weaker dollar also helped push commodity prices higher.

*The NYSE DOW closed HIGHER +56.07points +0.59% on Tuesday September 8*
Sym Last........ ........Change.......... 
Dow 9,497.34 +56.07 +0.59% 
Nasdaq 2,037.77 +18.99 +0.94% 
S&P 500 1,025.39 +8.99 +0.88% 
30-yr Bond 4.3110% +0.0380 

NYSE Volume 5,985,933,000  (prior day 4,756,504,000)
Nasdaq Volume 2,030,111,500  (prior day 1,742,961,000)

Gold 945.00 -0.50 -0.05% 
Oil 71.36 +3.34 +4.91% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,947.34 +14.16 +0.29% 
DAX 5,481.73 +18.22 +0.33% 
CAC 40 3,660.96 +8.13 +0.22% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,393.23 +72.29 +0.70% 
Hang Seng 21,069.81 +440.50 +2.14% 
Straits Times 2,654.54 +10.59 +0.40% 


http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks gain on rising commodities, takeover news

Stocks climb as traders see gains in commodities, rise in takeover activity as promising signs *
By Tim Paradis, AP Business Writer 
On Tuesday September 8, 2009, 4:48 pm EDT 

NEW YORK (AP) -- Rising commodity prices and stirrings of corporate takeovers are making investors more optimistic about the economy.

Stocks rose for the third straight day Tuesday following gains among materials and energy stocks.

Gold topped $1,000 an ounce for the first time since February and oil jumped more than $3 a barrel as investors look for more ways to profit from an improving economy. A weaker dollar also helped push commodity prices higher.

Talk of a revival in corporate dealmaking also lifted investors' confidence.

A takeover bid from Kraft Foods Inc. for rival Cadbury -- even though Cadbury rejected it -- combined with a big phone deal in England lifted hopes that takeover activity could be picking up. Deutsche Telekom and France Telecom said they planned to combine their British mobile phone units to form that country's biggest mobile operator.

A weekend pledge by the world's 20 biggest economies to support the global recovery with stimulus efforts also helped keep the market's tone positive.

George F. Shipp, chief investment officer at Scott & Stringfellow in Virginia Beach, Va., said U.S. markets are advancing in part to catch up with overseas trading after the Labor Day holiday in the U.S. He also said the takeover talk surrounding Cadbury underscores the fact that some companies are faring better than others.

"Some companies are doing reasonably well," Shipp said. "Chocolate is less susceptible to whatever is going to happen in mortgages and banking and unemployment."

According to preliminary calculations, the Dow Jones industrial average rose 56.07, or 0.6 percent, to 9,497.34. The broader Standard & Poor's 500 index rose 8.99, or 0.9 percent, to 1,025.39, and the Nasdaq composite index rose 18.99, or 0.9 percent, to 2,037.77.

Bond prices fell, pushing yields higher. The yield on the 10-year Treasury note rose to 3.48 percent from 3.45 percent late Friday.

The dollar fell against other major currencies and gold -- which is typically bought as a safe haven asset -- at times topped $1,000 an ounce before settling just short of that mark.

Crude oil rose $3.08 to settle at $71.10 a barrel on the New York Mercantile Exchange.

Tom Phillips, president of TS Phillips Investments in Oklahoma City, said investors are buying gold because they are nervous about the economy and rising deficits but don't want to miss more gains in the stock market. The S&P 500 index has jumped 50 percent from a 12-year low in early March.

"It is a flight to safety. It's kind of like everyone is hedging their bets. They want to be in the market because they don't want to miss out, but they're spooked," he said.

Freeport-McMoRan Copper & Gold Inc. rose $2, or 3 percent, to $68, while oilfield services company Schlumberger Ltd. rose $2.23, or 4 percent, to $58.10.

Meanwhile, General Electric Co. led the 30 stocks that make up the Dow industrials, rising 63 cents, or 4.5 percent, $14.50, after J.P. Morgan upgraded the company's shares saying that the market had already priced in most problems with the conglomerate's lending arm.

Among stocks moving on takeover talk, Cadbury jumped $14.42, or 38.5 percent, to $51.88. Kraft fell $1.65, or 5.9 percent, to $26.45.

The Russell 2000 index of smaller companies rose 5.88, or 1 percent, to 576.38.

Three stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.3 billion shares compared with 1 billion traded Friday.

Britain's FTSE 100 and Germany's DAX index rose 0.3 percent, while France's CAC-40 advanced 0.2 percent. Japan's Nikkei stock average rose 0.7 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The major indices started the session with modest losses, but that was met by buyers looking to extend the stock market's recent gains. Stocks did hand back a chunk of their gains following a disappointing Fed Beige Book, but participants shrugged off the commentary and pushed stocks broadly higher into the close. 

The stock market extended its gains to a fourth day as the Federal Reserve said the economy was stabilizing.

Industrial and financial stocks led the advance Wednesday, which lifted the Dow Jones industrial average 50 points by the closing bell, having been up 80 points earlier.

Stocks briefly surrendered their gains following the release of the Fed's report on regional economies, which also found that consumer spending would rise but only because of car purchases linked to the government's brief Cash for Clunkers program.

*The NYSE DOW closed HIGHER +49.88 points +0.53% on Wednesday September 9*
Sym Last........ ........Change.......... 
Dow 9,547.22 +49.88 +0.53% 
Nasdaq 2,060.39 +22.62 +1.11% 
S&P 500 1,033.37 +7.98 +0.78% 
30-yr Bond 4.3350% +0.0240 

NYSE Volume 5,898,655,000  (prior day 5,985,933,000)
Nasdaq Volume 2,504,449,750  (prior day 2,030,111,500)

Gold 945.00 -0.50 -0.05% 
Oil 71.69 +0.59 +0.83% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,004.30 +56.96 +1.15% 
DAX 5,574.26 +92.53 +1.69% 
CAC 40 3,707.69 +46.73 +1.28% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,312.14 -81.09 -0.78% 
Hang Seng 20,851.04 -218.77 -1.04% 
Straits Times 2,650.48 -10.43 -0.39% 

http://finance.yahoo.com/news/Indus...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Industrials, financials pull stock market higher

Gains in industrial and financial stocks pull market to 4th straight advance; Dow adds 50 *
By Tim Paradis, AP Business Writer 
On Wednesday September 9, 2009, 4:38 pm EDT 

NEW YORK (AP) -- The stock market extended its gains to a fourth day as the Federal Reserve said the economy was stabilizing.

Industrial and financial stocks led the advance Wednesday, which lifted the Dow Jones industrial average 50 points by the closing bell, having been up 80 points earlier.

Stocks briefly surrendered their gains following the release of the Fed's report on regional economies, which also found that consumer spending would rise but only because of car purchases linked to the government's brief Cash for Clunkers program.

The prolonged slump in consumer spending has been one of the most serious points of worry for economists, and the Fed's warning about it deflated some of the market's optimism. About 70 percent of the U.S. economy depends on spending by consumers.

Matt Lloyd, chief investment strategist at Advisors Asset Management, said investors were jittery following the Fed's report because many traders are fearful of a correction following a 50 percent surge in the market over the past six months.

"To me there is no conviction" behind the market's recent gains, Lloyd said.

According to preliminary calculations, the Dow rose 49.88, or 0.5 percent, to 9,547.22. The index has added 267 points, or 2.9 percent, in four days.

The broader Standard & Poor's 500 index gained 7.98, or 0.8 percent, to 1,033.37, while the Nasdaq composite rose 22.62, or 1.1 percent, to 2,060.39.

The Russell 2000 index of smaller companies rose 10.02, or 1.7 percent, to 586.40.

Advancing stocks outpaced those that fell by about 5-to-2 on the New York Stock Exchange, where volume came to 1.2 billion shares compared with 1.3 billion Tuesday.

Jeff Kleintop, chief market strategist at LPL Financial Services, said a break in the rally could be good for the market to keep stocks from racing too high, too quickly.

"I think we're maybe due for a little bit of consolidation," he said.

Kleintop also contends that economic readings are becoming a less powerful force on the market as more investors begin to expect an improvement in the economy.

"Economic data has lost a lot of its power to really move the market around. The consensus has now become we're in a recovery."

Light, sweet crude rose 20 cents to settle at $71.31 per barrel on the New York Mercantile Exchange. Gold fell but still hovered near $1,000 after crossing that mark Tuesday for the first time since February.

Industrial shares were the biggest gainers, as investors bet that higher commodity prices will translate to increased profits if the economy strengthens. The weaker dollar also makes the goods of U.S. exporters cheaper outside the U.S.

Caterpillar Inc. was among the strongest advancers of the 30 stocks that make up the Dow industrials. Shares of the maker of construction and mining equipment rose $1.44, or 3.1 percent, to $48.41.

Airplane maker Boeing Co. rose $1.03, or 2.1 percent, to $50.53, while General Electric Co. rose 37 cents, or 2.6 percent, to $14.87.

Aircraft maker Textron Inc. rose 43 cents, or 2.4 percent, to $18.41 after the company said it would leave its 2009 profit forecast unchanged.

Bond prices mostly rose. The yield on the benchmark 10-year Treasury note was flat at 3.48 percent from late Tuesday.

Haag Sherman, chief investment officer at Salient Partners in Houston, said investors' demand for stronger returns is weighing on the dollar, though he notes that the 10-year Treasury note has held its ground as some investors remain skeptical about a rebound in the economy.

"The 10-year really hasn't been punished as much lately. I think there is a tug-of-war between the equity and the bond market."

Overseas, Japan's Nikkei stock average fell 0.8 percent. Britain's FTSE 100 rose 1.2 percent, Germany's DAX index rose 1.7 percent, and France's CAC-40 advanced 1.3 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Continued interest among buyers helped stocks overcome a sluggish start, but it took results from the latest Treasury auction and comments from Treasury Secretary Geithner to lift stocks to fresh highs for 2009. The bullish bias remained intact into the close and helped stocks settle at session highs. 

Investors poured money into stocks for a fifth day after a drop in weekly unemployment claims and a spike in oil raised hopes for the economy.

The Dow Jones industrial average rose 80 points Thursday to its highest close since November. The index is up 347 points in five days, its longest winning streak since last fall.

The gains have come even as analysts say the market is overdue for a retreat. The advance followed the Labor Department's report that jobless claims fell more than expected to 550,000 last week. A jump in oil lifted energy companies and an upbeat forecast from consumer products maker Procter & Gamble Co. added to enthusiasm about an economic recovery.

*The NYSE DOW closed HIGHER +80.26 points +0.84% on Thursday September 10*
Sym Last........ ........Change.......... 
Dow 9,627.48 +80.26 +0.84% 
Nasdaq 2,084.02 +23.63 +1.15% 
S&P 500 1,044.14 +10.77 +1.04% 
30-yr Bond 4.1750% -0.1600 

NYSE Volume 6,162,512,000  (prior day 5,898,655,000)
Nasdaq Volume 2,490,368,000  (prior day 2,504,449,750)

Gold 945.00 -0.50 -0.05% 
Oil 72.10 +0.79 +1.11% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,987.68 -16.62 -0.33% 
DAX 5,594.77 +20.51 +0.37% 
CAC 40 3,705.87 -1.82 -0.05% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,513.67 +201.53 +1.95% 
Hang Seng 21,069.56 +218.52 +1.05% 
Straits Times 2,682.02 +31.54 +1.19% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks extend gains to 5 days after jobs report

Stocks rise for 5th day after slight improvement in jobless claims; Dow climbs 80 points *
By Tim Paradis, AP Business Writer 
On Thursday September 10, 2009, 5:04 pm EDT 

 NEW YORK (AP) -- Investors poured money into stocks for a fifth day after a drop in weekly unemployment claims and a spike in oil raised hopes for the economy.

The Dow Jones industrial average rose 80 points Thursday to its highest close since November. The index is up 347 points in five days, its longest winning streak since last fall.

The gains have come even as analysts say the market is overdue for a retreat. The advance followed the Labor Department's report that jobless claims fell more than expected to 550,000 last week. A jump in oil lifted energy companies and an upbeat forecast from consumer products maker Procter & Gamble Co. added to enthusiasm about an economic recovery.

Momentum grew in midafternoon as Treasury Secretary Timothy Geithner told a Congressional panel that confidence and stability were returning to the economy after the panic that began a year ago.

Some pieces of bad news held back certain shares but didn't get in the way of a broad market advance. Agricultural company Monsanto Co. warned that its 2009 earnings would come in at the low end of its forecast and said it would cut more jobs than previously announced.

Investors voiced concerns about the pace of the gains but few wanted to stand in the way of a market that was carving its way higher. The Standard & Poor's 500 index has risen 54.3 percent since hitting a 12-year low in March. It is sitting at an 11-month high, though it's still down 33.3 percent from its peak in October 2007.

Ralph Fogel, co-chief investment officer at Fogel Neale Partners in New York, argues that too many analysts are now expecting a pullback for it to actually happen. He pointed to a well-tested piece of Wall Street wisdom that if a certain prediction becomes too widely expected in the marketplace, that conclusion is often wrong.

"I'm not sure why sure this market is going to slow up so much," Fogel said. "We look for a nice continued move upward."

According to preliminary calculations, the Dow rose 80.26, or 0.8 percent, to 9,627.48 to its highest close since Nov. 3, when it ended at 9,319.83.

The broader S&P 500 index rose 10.77, or 1 percent, to 1,044.14. The index hasn't risen five straight days since a streak that ended Nov. 28.

The Nasdaq composite index rose 23.63, or 1.2 percent, to 2,084.02.

Bond prices jumped after a $12 billion auction of 30-year Treasury notes drew strong demand. The yield on the benchmark 10-year Treasury note fell to 3.36 percent from 3.48 percent late Wednesday. The yield on the 30-year bond fell to 4.20 percent from 4.33 percent.

Investors made selective bets on companies following a mixed batch of corporate forecasts. P&G rose $2.28, or 4.2 percent, to $56.04, while Monsanto fell $4.18, or 5 percent, to $79.30.

Some analysts remain cautious. Subodh Kumar, global investment strategist at Subodh Kumar & Associates in Toronto, contends that the market has gone too far without a break.

"The fact that it got here without any meaningful corrections means it hasn't stopped since March to test the validity of its assumptions," he said.

Three stocks rose for every one that fell on the New York Stock Exchange, where volume came to 813.5 million shares compared with 875.3 million at the same point Wednesday.

The Russell 2000 index of smaller companies rose 8.50, or 1.5 percent, to 594.90.

The dollar fell against other major currencies. Gold slipped.

Light, sweet crude rose 63 cents to $71.94 a barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 fell 0.3 percent, Germany's DAX index rose 0.4 percent, and France's CAC-40 fell 0.1 percent. Japan's Nikkei stock average rose 2 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 164.14, or 1.7 percent, at 9,605.41. The Standard & Poor's 500 index rose 26.33, or 2.6 percent, to 1,042.73. The Nasdaq composite index rose 62.12, or 3.1 percent, to 2,080.90.

Though stocks slipped for their first time in six sessions to finish the week in unimpressive fashion, stocks were still able to log their best weekly gain since July by advancing 2.6% in this holiday-shortened week of trade. 

Stocks initially looked as if they would extend recent gains as they made their way to new intraday highs for 2009, but the largely listless trade in the early going made for choppy trade, which then invoked moderate selling pressure. 

Investors pulled money out of stocks after a five-day rally left the market at its highest levels in nearly a year.

Even with the latest surge, stocks have little to show for the past decade. Eight years to the day after the 9/11 terror attacks, the Dow Jones industrial average finished within one-tenth of a point where it ended on Sept. 10, 2001, illustrating how hard markets have been hit by the recession.

Stocks slipped in quiet trading Friday after the recent string of gains and a drop in oil prices. Crude slid 3.7 percent, which hurt energy stocks like Exxon Mobil Corp. That overshadowed a rosier profit forecast from FedEx Corp. and a government report on improving sales at wholesalers.

*The NYSE DOW closed LOWER -22.07 points -0.23% on Friday September 11*
Sym Last........ ........Change.......... 
Dow 9,605.41 -22.07 -0.23% 
Nasdaq 2,080.90 -3.12 -0.15% 
S&P 500 1,042.73 -1.41 -0.14% 
30-yr Bond 4.1750% 0.0000 

NYSE Volume 5,661,965,500  (prior day 6,162,512,000)
Nasdaq Volume 2,342,681,500  (prior day 2,490,368,000)

Oil 69.12 -2.82 -3.92% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,011.47 +23.79 +0.48% 
DAX 5,624.02 +29.25 +0.52% 
CAC 40 3,734.89 +29.02 +0.78% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,444.33 -69.34 -0.66% 
Hang Seng 21,161.42 +91.86 +0.44% 
Straits Times 2,681.03 -0.99 -0.04% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks slide after 5 days of gains as oil falls

Stocks slip as lower oil helps break 5-day rally; Dow ends where it stood ahead of 9/11 attack *
By Tim Paradis, AP Business Writer 
On Friday September 11, 2009, 5:59 pm EDT 

NEW YORK (AP) -- Investors pulled money out of stocks after a five-day rally left the market at its highest levels in nearly a year.

Even with the latest surge, stocks have little to show for the past decade. Eight years to the day after the 9/11 terror attacks, the Dow Jones industrial average finished within one-tenth of a point where it ended on Sept. 10, 2001, illustrating how hard markets have been hit by the recession.

Stocks slipped in quiet trading Friday after the recent string of gains and a drop in oil prices. Crude slid 3.7 percent, which hurt energy stocks like Exxon Mobil Corp. That overshadowed a rosier profit forecast from FedEx Corp. and a government report on improving sales at wholesalers.

Even with the losses, stocks still logged big gains for the week.

The forecast from FedEx is important because its delivery business is seen as an indicator of how healthy the economy is. FedEx cited stronger international shipments and cost-cutting for the improvement. Investors track demand at industrial companies because rising orders would be one of the first signals that the economy is strengthening.

Separately, the Commerce Department reported that sales at the wholesale level rose in July by the biggest amount in more than a year, even though inventories fell for a record 11th straight month.

The gains in industrial stocks came at the expense of areas that have been leaders in the market's six-month rally such as technology and financial shares.

"The market always overshoots on either side. I think we're at the point in the move where we need to see the fundamentals catch up to support these levels," said Sean Simko, head of fixed income management at SEI Investments in Oaks, Pa. "In the short-term, the market is going to take a little breather."

The Dow Jones industrial average fell 22.07, or 0.2 percent, to 9,605.41. The index closed Thursday at its highest level since October. Because of the steep slide that began in the fall of 2007, stocks are still stuck at about the same level they were at eight years ago. On Sept. 10, 2001, the Dow ended at 9,605.51; that is nearly identical to Friday's close of 9,605.41.

The broader Standard & Poor's 500 index fell 1.41, or 0.1 percent, to 1,042.73, and the Nasdaq composite index fell 3.12, or 0.2 percent, to 2,080.90.

About four stocks rose for every three that fell on the New York Stock Exchange, where consolidated volume came to 5 billion shares, compared with 5.4 billion Thursday.

For the week, the Dow rose 1.7 percent, the S&P 500 index added 2.6 percent and the Nasdaq rose 3.1 percent.

Meanwhile, gold again rose above $1,000 to its highest level since February.

Frank Haines, chief investment officer at Christian Brothers Investment Services in New York, contends investors have been overlooking problems that remain in the economy such as bad debt.

"The stock rally we've had has been lead by some of the weakest companies out there," Haines said, pointing to financials and home builders.

The S&P 500 index is up 54.1 percent since hitting a 12-year low in March, although it is still down 33.4 percent from its peak in October 2007.

Rising commodity prices and signs of life in corporate dealmaking pushed stocks higher during the week, which was made shorter by the Labor Day holiday. Investors rising commodities prices as a signal that industrial activity could be picking up. Kraft Foods Inc.'s thus-far unsuccessful bid for rival Cadbury PLC this week was also seen as a sign of growing confidence among U.S. companies.

A rush of economic data next week could help investors determine whether the expected economic rebound is on track. Reports are due on retail sales, industrial production, housing and inflation. Analysts will be paying particular attention to reports on retailers because consumer spending accounts for about 70 percent of U.S. economic activity. Any rebound in the economy will have to be accompanied by a greater flow of money into cash registers.

Bond prices were mixed after spiking Thursday when a government debt auction produced strong demand. The yield on the benchmark 10-year Treasury note was flat at 3.35 percent from late Thursday.

Light, sweet crude fell $2.65 to settle at $69.29 a barrel on the New York Mercantile Exchange.

The slide in oil hurt some energy stocks, which supported the market for much of the week. Exxon Mobil fell 67 cents, or 1 percent, to $69.98.

FedEx jumped $4.66, or 6.4 percent, to $77.32 after raising its forecast.

Electronics retailer Best Buy Co. fell $1.29, or 3.1 percent, to $39.76 after an Oppenheimer analyst lowered his rating on the stock, noting it has been trading near the top of their 52-week range.

The Russell 2000 index of smaller companies fell 1.31, or 0.2 percent, to 593.59.

Overseas, Britain's FTSE 100 rose 0.5 percent, Germany's DAX index gained 0.5 percent, and France's CAC-40 rose 0.8 percent. Japan's Nikkei stock average fell 0.7 percent.

The Dow Jones industrial average closed the week up 164.14, or 1.7 percent, at 9,605.41. The Standard & Poor's 500 index rose 26.33, or 2.6 percent, to 1,042.73. The Nasdaq composite index rose 62.12, or 3.1 percent, to 2,080.90.

The Russell 2000 index, which tracks the performance of small company stocks, rose 23.09, or 4.1 percent, for the week to 593.59.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 10,752.29, up 300.82, or 2.9 percent.
429


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Weakness overseas and concerns regarding trade with China weighed on sentiment in the early going, but stocks worked their way out of negative territory to finish the session at fresh highs for 2009. 

The stock market started the session with a loss of roughly 0.7% as several major foreign markets were knocked lower by profit takers. The case for paring positions also seemed appropriate since it appeared that the major U.S. indices were losing momentum after slipping from 2009 highs last Friday to log a loss and finish last week on a down note. Participants were also a bit unsettled by news that China's trade officials have threatened to restrict chicken and auto product imports from the U.S. in response to the decision by U.S. officials to place punitive sanctions on Chinese tire imports. Goodyear Tire (GT 17.78, +0.51) and Cooper Tire (CTB 15.60, +1.03) were helped by the story, but Sanderson Farms (SAFM 40.01, -0.28) and Tyson Foods (TSN 12.45, -0.30) were hurt. 

Stocks clawed back from early losses to post moderate gains as traders funneled money into utilities and industrial stocks.

Major market indexes ended at their highest levels in nearly a year.

The market sold off at the open following a drop in overseas markets on worries that a trade war would erupt between the U.S. and China. But stocks began to recover from an early dip that sent the Dow Jones industrial average down 100 points as investors seized on the dip to inject new money into the market. The Dow ended with a gain of 21 points.

*The NYSE DOW closed HIGHER +21.39 points +0.22% on Monday September 14*
Sym Last........ ........Change.......... 
Dow 9,626.80 +21.39 +0.22% 
Nasdaq 2,091.78 +10.88 +0.52% 
S&P 500 1,049.34 +6.61 +0.63% 
30-yr Bond 4.2150% +0.0400 

NYSE Volume 5,524,709,500  (prior day 5,661,965,500)
Nasdaq Volume 2,175,931,500  (prior day 2,342,681,500)

Oil 68.87 -0.42 -0.61% 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,018.85 +7.38 +0.15% 
DAX 5,620.24 -3.78 -0.07% 
CAC 40 3,730.61 -4.28 -0.11% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,202.06 -242.27 -2.32% 
Hang Seng 20,932.20 -229.22 -1.08% 
Straits Times 2,639.74 -41.29 -1.54% 

http://finance.yahoo.com/news/Indus...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Industrials, utilities pull stocks higher

Stocks reverse early slide as investors put money into industrial, utilities; Dow adds 21 *
By Stephen Bernard and Tim Paradis, AP Business Writers 
On Monday September 14, 2009, 4:25 pm EDT 

NEW YORK (AP) -- Stocks clawed back from early losses to post moderate gains as traders funneled money into utilities and industrial stocks.

Major market indexes ended at their highest levels in nearly a year.

The market sold off at the open following a drop in overseas markets on worries that a trade war would erupt between the U.S. and China. But stocks began to recover from an early dip that sent the Dow Jones industrial average down 100 points as investors seized on the dip to inject new money into the market. The Dow ended with a gain of 21 points.

Utility AES Corp. helped pull the market higher after The Wall Street Journal reported that China's investment arm is interested in buying a stake in the company.

Analysts said the day's modest gains were impressive after a strong run last week and as a continuation of a powerful six-month rally that has lifted the Standard & Poor's 500 index 55.1 percent.

"We open lower and buyers seem to chip away, and we climb higher," he said. "It's somewhat healthy that we're rallying this way -- slowly."

According to preliminary calculations, the Dow rose 21.39, or 0.2 percent, to 9,626.80. It had been down about 109 points at its low. The broader Standard & Poor's 500 index rose 6.61, or 0.6 percent, to 1,049.34, an 11-month high. The Nasdaq composite index rose 10.88, or 0.5 percent, to 2,091.78.

The trading came in sharp contrast to the tumult of a year ago, when the collapse of Lehman Brothers Holdings Inc. sent the Dow Jones industrial average down 500 points in one day and jammed the credit markets that power the world's economies. The S&P 500 index is still down 16.2 percent from that time and 33 percent from its peak in October 2007.

Traders reacted coolly to a speech across the street from the New York Stock Exchange from President Barack Obama, who warned the financial industry against repeating the recklessness that led to collapse of Lehman Brothers.

Richard Ross, global technical strategist at Auerbach Grayson in New York, said the economy still face obstacles but that the market could extend its recovery because investors are far more optimistic than when stocks skidded to 12-year lows in early March.

"Questions remain but a lot of the uncertainty has largely been removed. That sort of dooms day scenario has been taken off the table," he said. "We're striking a much healthier balance between greed and fear."


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Despite stumbling in the early going, stocks worked their way higher to log their seventh gain in eight sessions as buyers chased materials stocks and basic commodities. 

The major indices started the session in higher ground with help from the August Producer Price Index, which came in with a greater-than-expected 1.7% month-over-month increase, and a stronger-than-expected 0.2% month-over-month increase in core prices. The Empire State Manufacturing Survey for September climbed more than expected to 18.9, which is a new best for 2009, but the advance retail sales report for August was the headliner after it made the sharpest monthly jump in more than three years by climbing a better-than-expected 2.7%. Sales less autos were also better than expected; they increased 1.1%. 

Better news on retail sales and manufacturing helped send stocks higher Tuesday, as did comments from Federal Reserve Chairman Ben Bernanke that the recession was probably over.

Surging materials and industrial companies like Alcoa and Caterpillar pulled the Dow Jones industrial average to a gain of 57 points, its seventh climb in eight days and another high for the year. Manufacturers are expected to be among the early beneficiaries if the economy strengthens and demand picks up.

Hopes for a rebound grew after the government reported that retail sales jumped in August by the biggest amount in three years. The Fed's index of manufacturing in the New York region rose to its best level since late 2007.

*The NYSE DOW closed HIGHER +56.61 points +0.59% on Tuesday September 15*
Sym Last........ ........Change.......... 
Dow 9,683.41 +56.61 +0.59% 
Nasdaq 2,102.64 +10.86 +0.52% 
S&P 500 1,052.63 +3.29 +0.31% 
30-yr Bond 4.2620% +0.0470 

NYSE Volume 7,058,189,500  (prior day 5,524,709,500)
Nasdaq Volume 2,399,406,500  (prior day 2,175,931,500)

Oil 70.43 -0.50 -0.70% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,042.13 +23.28 +0.46% 
DAX 5,628.98 +8.74 +0.16% 
CAC 40 3,752.21 +21.60 +0.58% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,217.62 +15.56 +0.15% 
Hang Seng 20,866.37 -65.83 -0.31% 
Straits Times 2,638.40 -1.34 -0.05% 

http://finance.yahoo.com/news/Stocks-rise-on-retail-sales-apf-3882376104.html?x=0

*Stocks rise on retail sales, manufacturing data

Stocks gain as retail sales jump by biggest amount in 3 years; manufacturing improves *
By Tim Paradis, AP Business Writer 
On Tuesday September 15, 2009, 5:49 pm EDT 

NEW YORK (AP) -- Better news on retail sales and manufacturing helped send stocks higher Tuesday, as did comments from Federal Reserve Chairman Ben Bernanke that the recession was probably over.

Surging materials and industrial companies like Alcoa and Caterpillar pulled the Dow Jones industrial average to a gain of 57 points, its seventh climb in eight days and another high for the year. Manufacturers are expected to be among the early beneficiaries if the economy strengthens and demand picks up.

Hopes for a rebound grew after the government reported that retail sales jumped in August by the biggest amount in three years. The Fed's index of manufacturing in the New York region rose to its best level since late 2007.

That upbeat economic news helped allay concerns about a separate government report finding that inflation at the wholesale level rose last month at double the rate analysts expected.

Meanwhile, Bernanke cheered investors by saying that the worst recession since the 1930s has "very likely" ended, though he cautioned that problems like high unemployment will remain.

Investors have been betting on a recovery. The Standard & Poor's 500 index, the benchmark for many mutual funds, has surged 55.6 percent since skidding to a 12-year low in March.

Stocks zigzagged in morning trading before gaining steam in the afternoon, similar to the way trading played out Monday. Analysts say the slow-building advances are a sign that investors are pouncing on dips to get into the rally.

The short bouts of selling have meant the market has risen without the sizable break, which many analysts still say is overdue. Even when the news isn't good, market sentiment seems immune to developments that would have punctured the rally only months ago.

Investors shrugged off news that wholesale prices rose 1.7 percent last month, and disappointing earnings from two major retailers, Best Buy Co. and Kroger Co., also failed to push the stock market off course.

"You want to say that the market is a little bit tired after the run we've had yet we continue to grind higher," said Ryan Larson, senior equity trader at Voyageur Asset Management.

The Dow rose 56.61, or 0.6 percent, to 9,683.41, its highest close since Oct. 6, when it finished at 9,956.

The S&P 500 index rose 3.29, or 0.3 percent, to 1,052.63, while the Nasdaq composite index rose 10.86, or 0.5 percent, to 2,102.64. All three indicators are at their highest levels for 2009.

More than two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 6.3 billion shares compared with 4.9 billion Monday.

The government's report that retail sales jumped 2.7 percent in August boosted confidence in the economy. Analysts say improvements in consumer spending are crucial to a recovery.

Even after stripping out the sizable gains from the government's popular Cash for Clunkers program, sales rose 1.1 percent, well beyond the rise of 0.4 percent expected by analysts.

Commodity and industrial stocks rose as a weaker dollar pushed up materials prices. Alcoa Inc. added $1.05, or 8.1 percent, to $13.99. Caterpillar Inc. rose $2.93, or 6 percent, to $51.70.

Gregg S. Fisher, chief investment officer at financial advisory firm Gerstein Fisher in New York, said that despite the recent gains investors could still run into trouble.

"Investors are always following the herd. I think investors should sort of catch themselves now and not get overconfident," he said.

The market's latest gains came one year after the Dow tumbled 500 points following the collapse of Lehman Brothers Holdings Inc., which deepened the recession.

In other trading, bond prices fell. The yield on the benchmark 10-year Treasury note rose to 3.46 percent from 3.43 percent late Monday.

Crude oil rose $2.07 to settle at $70.93 a barrel on the New York Mercantile Exchange. Gold also rose after the report on inflation. The metal is often used as a hedge against rising prices.

The Russell 2000 index of smaller companies rose 4.81, or 0.8 percent, to 604.84.

Overseas, Britain's FTSE 100 rose 0.5 percent, Germany's DAX index rose 0.2 percent, and France's CAC-40 added 0.6 percent. Japan's Nikkei stock average rose 0.2 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Continued buying helped the stock market march higher for the third straight session. More impressive was that steady momentum helped stocks close the session at new highs for the year. 

The latest leg of the stock market's run came with broad-based support and gave the S&P 500 its best single-session gain in nearly one month.

Investors barreled into stocks Wednesday after an upbeat report on industrial production raised hopes that the economy is strengthening.

The Dow Jones industrial average rose 108 points to another high for the year as General Electric Co. and International Business Machines Corp. jumped. It was the market's eighth gain in nine days.

The promising report from the Federal Reserve on industrial production came a day after Fed Chairman Ben Bernanke said that the recession was likely over. Investors have been scooping up stocks for six months in anticipation of a rebound in the economy.

*The NYSE DOW closed HIGHER +108.30 points +1.12% on Wednesday September 16*
Sym Last........ ........Change.......... 
Dow 9,791.71 +108.30 +1.12% 
Nasdaq 2,133.15 +30.51 +1.45% 
S&P 500 1,068.76 +16.13 +1.53% 
30-yr Bond 4.2660% +0.0040 

NYSE Volume 7,837,031,500  (prior day 7,058,189,500)
Nasdaq Volume 2,793,902,750  (prior day 2,399,406,500)

Oil 72.27 -0.24 -0.33% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,124.13 +82.00 +1.63% 
DAX 5,700.26 +71.28 +1.27% 
CAC 40 3,813.79 +61.58 +1.64% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,270.77 +53.15 +0.52% 
Hang Seng 21,402.92 +536.55 +2.57% 
Straits Times 2,674.42 +36.02 +1.37% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks jump as industrial production rises

Stocks extend rally to 3rd day following growth in industrial production; Dow jumps 108 points *
By Tim Paradis, AP Business Writer 
On Wednesday September 16, 2009, 5:40 pm EDT 

NEW YORK (AP) -- Investors barreled into stocks Wednesday after an upbeat report on industrial production raised hopes that the economy is strengthening.

The Dow Jones industrial average rose 108 points to another high for the year as General Electric Co. and International Business Machines Corp. jumped. It was the market's eighth gain in nine days.

The promising report from the Federal Reserve on industrial production came a day after Fed Chairman Ben Bernanke said that the recession was likely over. Investors have been scooping up stocks for six months in anticipation of a rebound in the economy.

The central bank's report that industrial activity surged 0.8 percent in August topped expectations. The Fed also said the improvement in industrial production for July was twice what it had initially reported.

The report and rising commodity prices lifted shares of manufacturing companies like aluminum producer Alcoa Inc.

Other big gains came from financial stocks, which have been building momentum as they push above certain price levels watched by traders. GE, which has a large financial arm and often trades like a bank stock, jumped for a third day. American Express Co. and JPMorgan Chase & Co. rose more than 3 percent.

Money has been flowing into stocks as some professional investors rush to keep with the market's gains and fear being left behind.

"People are looking to play catch-up at this point," said Christian Bendixen, director of technical research at Bay Crest Partners LLC in New York.

The Dow rose 108.30, or 1.1 percent, to 9,791.71, its highest close since Oct. 6, when it ended at 9,956. The index is now up 11.6 percent for the year.

The broader Standard & Poor's 500 index rose 16.13, or 1.5 percent, to 1,068.76, while the Nasdaq composite index rose 30.51, or 1.5 percent, to 2,133.15.

The advance comes even as analysts warn that stocks are due for a correction. The S&P 500 index, the benchmark for many mutual funds, has surged 58 percent since it tumbled to a 12-year low in early March. Extended ascents tend to spook investors, who see it as a sign of indiscriminate buying.

Peter Schwartz, principal at Gregory J. Schwartz & Co. in Bloomfield Hills, Mich., expects stocks will rise but not without interruptions. "We can't have this trajectory for perpetuity without speed bumps along the way," he said.

Jason Pride, director of research Haverford Investments in Radnor, Pa., would like to see more moderate gains but said the nature of markets is to overdo it. "The market can extend its speculation surrounding this economic rebound much longer than people expect," he said.

GE jumped $1, or 6.3 percent, to $17, extending its gain for the week and erasing its loss for the year. The company plans to update analysts on its business Thursday. IBM, which carries more weight in the Dow because of its higher stock price, rose $2.47, or 2.1 percent, to $121.82, its best close of the year.

Alcoa rose 48 cents, or 3.4 percent, to $14.47 after the report on industrial production.

Health insurers rose after Sen. Max Baucus of Montana introduced a Finance Committee version of a bill to revamp the nation's health care system. It would require most people to purchase insurance coverage and prevent insurance companies from charging more to people with more serious health problems.

UnitedHealth Group Inc. rose $1.59, or 5.7 percent, to $29.29, while Humana Inc. advanced $1.89, or 4.9 percent, to $40.67.

Home builder stocks surged after a builder confidence index from the National Association of Home Builders rose for the third straight month. Beazer Homes USA Inc. jumped 60 cents, or 14.2 percent, to $4.83 and Hovnanian Enterprises Inc. rose 41 cents, or 10.3 percent, to $4.41.

Newspaper stocks rose following a report from a market research company that signaled advertising spending wasn't eroding as quickly as it had been.

Gannett Co., the publisher of USA Today and other papers, advanced 93 cents, or 10.3 percent, to $9.99. The New York Times Co. rose 94 cents, or 11.9 percent, to $8.82.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note rose to 3.48 percent from 3.46 late Tuesday.

The dollar extended its slide and commodities, including gold, rose. Commodities are priced in dollars and become less expensive when the dollar weakens.

Oil advanced after the government reported a large drop in crude supplies. Light, sweet crude rose $1.58 to settle at $72.51 per barrel on the New York Mercantile Exchange.

Five stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.6 billion shares compared with 1.5 billion Tuesday.

The Russell 2000 index of smaller companies rose 12.54, or 2.1 percent, to 617.38.

Overseas, Britain's FTSE 100 gained 1.6 percent, Germany's DAX index rose 1.3 percent, and France's CAC-40 rose 1.6 percent. Japan's Nikkei stock average rose 0.5 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Participants sold the news of a better-than-expected batch of economic reports and handed stocks their first loss in four sessions. Losses were rather contained, though, as stocks are still up more than 2% week-to-date. 

Despite stumbling a bit in the moments following the opening bell, stocks looked as if they were going to extend their recent gains. That is until the Philadelphia Fed Index for September showed that it hit a two-year high of 14.1, which was better than expected. Rather than provide fodder for further buying, the data prompted selling pressure as participants looked to lock in profits after they had watched stocks advance in eight of the previous nine sessions. 

A surprise drop in unemployment claims couldn't fuel another day of gains for the stock market.

Stocks posted modest losses in quiet trading Thursday after a three-day advance. Traders found little in the weekly employment data, or in reports on housing and manufacturing, to provide new encouragement about an economic recovery. Stocks surrendered early gains around midday and the Dow Jones industrial average ended with a loss of 8 points.

Lackluster earnings reports from FedEx Corp. and Oracle Corp. added to investors' caution.

*The NYSE DOW closed LOWER -7.79 points -0.08% on Thursday September 17*
Sym Last........ ........Change.......... 
Dow 9,783.92 -7.79 -0.08% 
Nasdaq 2,126.75 -6.40 -0.30% 
S&P 500 1,065.49 -3.27 -0.31% 
30-yr Bond 4.1780% -0.0880 

NYSE Volume 7,646,383,000  (prior day 7,837,031,500)
Nasdaq Volume 2,643,237,500  (prior day 2,793,902,750)

Oil 72.25 -0.22 -0.30% 
Gold US$/oz 1011.95 -5.05 -0.50%

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,163.95 +39.82 +0.78% 
DAX 5,731.14 +30.88 +0.54% 
CAC 40 3,835.27 +21.48 +0.56% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,443.80 +173.03 +1.68% 
Hang Seng 21,768.51 +365.59 +1.71% 
Straits Times 2,672.60 -1.82 -0.07% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks slip as investors take break from rally

Stocks edge lower as economic reports fail to draw buyers; Market has risen 8 of 10 days *
By Tim Paradis, AP Business Writer 
On Thursday September 17, 2009, 5:43 pm EDT 

NEW YORK (AP) -- A surprise drop in unemployment claims couldn't fuel another day of gains for the stock market.

Stocks posted modest losses in quiet trading Thursday after a three-day advance. Traders found little in the weekly employment data, or in reports on housing and manufacturing, to provide new encouragement about an economic recovery. Stocks surrendered early gains around midday and the Dow Jones industrial average ended with a loss of 8 points.

Lackluster earnings reports from FedEx Corp. and Oracle Corp. added to investors' caution.

The stock market has risen in eight of the past 10 days and hopes for a recovery have propelled the Standard & Poor's 500 index up 57.5 percent from a 12-year low in early March. The pace of the gains has brought warnings from analysts that stocks have risen too quickly.

"This market has become kind of saturated with good news," said Jeff Kleintop, chief market strategist at LPL Financial.

The Labor Department said workers filing for jobless claims for the first time dipped to 545,000 last week from an upwardly revised 557,000 the previous week. Economists polled by Thomson Reuters were expecting claims to rise.

It was the lowest level of new claims since early July, indicating job cuts could be easing. However, those continuing to file for claims came in just above analysts' forecasts at 6.2 million. Many economists consider unemployment to be the biggest obstacle to a rebound in the economy.

The Commerce Department said housing starts rose in August to their highest level in nine months amid a jump in apartment building. The increase was just below the pace economists had forecast.

Similarly, the Philadelphia Federal Reserve's index of regional manufacturing conditions rose for a second straight month to its highest level since June 2007. However, a drop in new orders from August worried some investors.

Weaker sales at FedEx and Oracle stirred concerns about how corporate revenue will hold up for the July-September quarter. In the prior quarter, companies relied on cost-cutting, not revenue growth, to boost earnings.

David Chalupnik, head of equities at First American Funds, still expects stocks will push higher but said a break is necessary. "Eventually the market does need to take a breather," he said.

The Dow Jones industrial average fell 7.79, or 0.1 percent, to 9,783.92. On Wednesday, the Dow jumped 108 points to a high for the year.

The S&P 500 index fell 3.27, or 0.3 percent, to 1,065.49, and the Nasdaq composite index fell 6.40, or 0.3 percent, to 2,126.75.

Kleintop is encouraged that some of the market's recent gains have been moderate and that investors remain skeptical. The counterintuitive logic of Wall Street would argue that all the predictions of a slide could keep the rally going.

"It's been kind of a steady grind over time bringing investors kind of kicking and screaming back into this market," he said.

Bond prices jumped, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.39 percent from 3.48 percent late Wednesday.

The dollar was mixed against other currencies, while gold prices fell.

Among stocks, FedEx fell $1.74, or 2.2 percent, to $76.46 and Oracle slid 61 cents, or 2.8 percent, to $21.52. American Airlines' parent AMR Corp. jumped $1.45, or 19.7 percent, to $8.80 after the company said it secured $2.9 billion in cash and financing.

Crude oil fell 3 cents to settle at $72.47 per barrel on the New York Mercantile Exchange.

About three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume came to 6.7 billion shares compared with 6.9 billion Wednesday.

The Russell 2000 index of smaller companies fell 1.91, or 0.3 percent, to 615.47.

Overseas, Britain's FTSE 100 rose 0.8 percent, Germany's DAX index gained 0.5 percent, and France's CAC-40 rose 0.6 percent. Japan's Nikkei stock average jumped 1.7 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 214.79, or 2.2 percent, at 9,802.20. The Standard & Poor's 500 index rose 25.57, or 2.5 percent, to 1,068.30. The Nasdaq composite index rose 51.96, or 2.5 percent, to 2,132.86.

Despite choppy, listless action and some late pressure, stocks were able to log another solid gain, which helped give the S&P 500 a 2.5% weekly gain. 

There weren't any major news items or economic items to act as positive trading catalysts this session, but the market's bullish bias still came through. In turn, the S&P 500 finished in higher ground for the ninth time in 11 sessions.

The stock market shifted back into rally mode Friday after analyst upgrades boosted investor optimism about the economy.

A 36-point advance in the Dow Jones industrial average left the index at a new high for the year and with a gain of 215 points for the week, its best weekly performance since July. Stock indexes have risen in nine of the past 11 days.

The market got a boost from a new economic forecast at Barclay's Capital, which raised its projection for growth in the nation's gross domestic product for first three months of next year to 5 percent from 3 percent. GDP has been shrinking, although many economists think it will return to growth for the July-September quarter.

*The NYSE DOW closed HIGHER +36.28 points +0.37% on Friday September 18*
Sym Last........ ........Change.......... 
Dow 9,820.20 +36.28 +0.37% 
Nasdaq 2,132.86 +6.11 +0.29% 
S&P 500 1,068.30 +2.81 +0.26% 
30-yr Bond 4.2310% +0.0530 

NYSE Volume 7,101,653,500  (prior day 7,646,383,000)
Nasdaq Volume 3,198,296,750  (prior day 2,643,237,500)

Oil 71.85 -0.62 -0.86% 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,172.89 +8.94 +0.17% 
DAX 5,703.83 -27.31 -0.48% 
CAC 40 3,827.84 -7.43 -0.19% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,370.54 -73.26 -0.70% 
Hang Seng 21,623.45 -145.06 -0.67% 
Straits Times 2,647.91 -24.69 -0.92% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stock market resumes rally after one-day break

Stocks shift back to rally mode as analysts make upbeat calls; Dow gains 215 for the week *
By Tim Paradis, AP Business Writer 
On Friday September 18, 2009, 6:16 pm EDT 

NEW YORK (AP) -- The stock market shifted back into rally mode Friday after analyst upgrades boosted investor optimism about the economy.

A 36-point advance in the Dow Jones industrial average left the index at a new high for the year and with a gain of 215 points for the week, its best weekly performance since July. Stock indexes have risen in nine of the past 11 days.

The market got a boost from a new economic forecast at Barclay's Capital, which raised its projection for growth in the nation's gross domestic product for first three months of next year to 5 percent from 3 percent. GDP has been shrinking, although many economists think it will return to growth for the July-September quarter.

Meanwhile, Procter & Gamble Co. pulled the Dow higher after an analyst raised her rating on the consumer products company in part because of its price-cutting strategy. P&G's huge stable of brands includes Tide detergent and Gillette razors.

The market's climb came a day after a pullback that did little to quiet analysts' calls for a break in the market's run.

Marc Harris, co-head of global research for RBC Capital Markets in New York, said the strength of the rally has surprised many investors because some of the stocks posting the biggest advances are lower-quality companies with weak balance sheets that investors only months ago feared might go out of business.

"Even turkeys are going to fly in a hurricane," Harris said. "Those lower-quality companies are leading the charge here."

Financial companies and home builders have been among the biggest gainers in the recent run. Many of these companies still face major hurdles with bad debt and the weak housing market.

Many analysts expect the market's run will slow -- but perhaps not stop -- as investors shift their holdings from industries where the gains have been strong, like technology, to areas that have lagged.

The Dow rose 36.28, or 0.4 percent, to 9,820.20, its highest close since Oct. 6, when it finished at 9,956. The index is up 11.9 percent for the year.

The broader Standard & Poor's 500 index rose 2.81, or 0.3 percent, to 1,068.30, while the Nasdaq composite index advanced 6.11, or 0.3 percent, to 2,132.86.

The Dow's gain of 2.2 percent for the week was its best gain since the week ended July 24. The S&P 500 index and the Nasdaq advanced 2.5 percent.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.46 percent from 3.39 percent late Thursday.

The dollar rose against other major currencies, while gold slipped.

Crude oil fell 43 cents to settle at $72.04 per barrel on the New York Mercantile Exchange.

P&G rose $1.79, or 3.2 percent, to $57.32 after its upgrade from Citi Investment Research.

Stocks rallied during the week as reports on retail sales and manufacturing raised hopes the economy is rebounding. Federal Reserve Chairman Ben Bernanke's comment that the recession has "very likely" ended also cheered investors even as he warned that problems like high unemployment will linger.

Industrial stocks logged some of the biggest jumps. General Electric Co. surged 12.5 percent for the week, while Caterpillar Inc. added 10.1 percent.

Next week, figures on home sales and consumer sentiment could shape trading, as could a report due Monday on leading indicators. The economic snapshot is designed to predict economic activity in three to six months. Fed policymakers are almost sure to leave a key banking lending rate at a record low near zero at the conclusion of a two-day meeting Wednesday. President Barack Obama will host the Group of 20 economic summit in Pittsburgh starting Thursday.

Phil Guarco, global investment strategist for J.P. Morgan's Private Bank in New York, said a broad rally has given investors an easy ride.

"It's been kind of an investors' nirvana because all asset classes have been going up essentially," he said, noting exceptions like the dollar and the value of cash holdings. "It can't go on forever like that."

Many analysts still say the market is due for a break. Linda Duessel, equity market strategist at Federated Investors in Pittsburgh, said a retreat of 10 percent or more in major stock indexes wouldn't be surprising. The S&P 500 index has rocketed 57.9 percent from a 12-year low in early March. An advance that size might often take five or six years to occur.

She said that if there is a slide stocks could resume their climb because so many investors missed the rally.

"The most common question I get when I travel is 'Do you think I'll get a pullback so I can get in?' That's so bullish," she said.

Three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to 6.1 billion shares compared with 6.7 billion Thursday.

The Russell 2000 index of smaller companies rose 2.41, or 0.4 percent, to 617.88.

Overseas, Britain's FTSE 100 rose 0.2 percent, Germany's DAX index fell 0.5 percent and France's CAC-40 slipped 0.2 percent. Japan's Nikkei stock average fell 0.7 percent.

The Dow Jones industrial average closed the week up 214.79, or 2.2 percent, at 9,802.20. The Standard & Poor's 500 index rose 25.57, or 2.5 percent, to 1,068.30. The Nasdaq composite index rose 51.96, or 2.5 percent, to 2,132.86.

The Russell 2000 index, which tracks the performance of small company stocks, rose 24.29, or 4.1 percent, for the week to 617.88.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,032.18, up 279.89, or 2.6 percent.
789


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Nasdaq logged a modest gain as biotech stocks advanced in the face of broader market selling pressure, which kept the Dow and S&P 500 in the red for the entire session. 

Coming off of a gain of more than 2% last week, participants moved against stocks in broad fashion. Of the 10 major sectors in the S&P 500, health care was the only one to sport a steady gain for the vast majority of the session. It finished 0.7% higher as biotechs climbed 2.4%. 

Most stocks lost ground Monday as a stronger dollar pushed down commodity prices and investors grew jittery about the market's six-month rally.

The stronger dollar set off a slide in commodities like oil and gold, which weighed on energy and material shares.

The Dow Jones industrial average ended with a loss of 41 points after being down 94 in morning trading. For weeks, investors looking to take part in the market's rally have been pouncing on any dips.

*The NYSE DOW closed LOWER -41.34 points -0.42% on Monday September 21*
Sym Last........ ........Change.......... 
Dow 9,778.86 -41.34 -0.42% 
Nasdaq 2,138.04 +5.18 +0.24% 
S&P 500 1,064.66 -3.64 -0.34% 
30-yr Bond 4.2450% +0.0140 

NYSE Volume 5,310,173,000  (prior day 7,101,653,500)
Nasdaq Volume 2,425,171,000  (prior day 3,198,296,750)

Oil 69.68 -0.03 -0.04% 
Gold US$/oz 1002.60 -3.55 -0.35%

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,134.36 -29.59 -0.57% 
DAX 5,668.65 -35.18 -0.62% 
CAC 40 3,812.16 -15.68 -0.41% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225		10,370.54 	closed holiday
Hang Seng		21,472.85	-150.60 	-0.70%
Straits Times		2,647.91	 closed holiday

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks end off lows as health care, tech recover

Stocks fall but pare early losses as health care and technology gain; Dow falls 41 points *
By Sara Lepro and Tim Paradis, AP Business Writers 
On Monday September 21, 2009, 5:46 pm EDT 

NEW YORK (AP) -- Most stocks lost ground Monday as a stronger dollar pushed down commodity prices and investors grew jittery about the market's six-month rally.

The stronger dollar set off a slide in commodities like oil and gold, which weighed on energy and material shares.

The Dow Jones industrial average ended with a loss of 41 points after being down 94 in morning trading. For weeks, investors looking to take part in the market's rally have been pouncing on any dips.

Gains in health stocks helped support the market, and Dell Inc.'s plans to buy information-technology company Perot Systems Corp. for $3.9 billion drove some buying in tech stocks.

Analysts have been calling for a retreat in the market after stocks surged powerfully off of 12-year lows in early March, lifting the benchmark Standard & Poor's 500 index 57.4 percent.

"This is what should happen, needs to happen, is going to happen along the way but it doesn't mean we're headed down significantly from here," said Jordan Smyth, managing director at Edgemoor Investment Advisors in Bethesda, Md.

Meanwhile, the market had a mixed reaction to a private research group's forecast of economic activity, which came in just below analysts forecasts but still posted a fifth consecutive month of increases.

The Conference Board said its index of leading economic indicators increased 0.6 percent in August, just shy of the 0.7 percent increase economists expected, but still enough of a positive indicator to reinforce Federal Reserve Chairman Ben Bernanke's pronouncement last week that the U.S. recession was "likely over" from a technical standpoint, even as difficulties such as unemployment remain.

The Dow fell 41.34, or 0.4 percent, to 9,778.86. It has fallen in two of the last three days.

The S&P 500 index fell 3.64, or 0.3 percent, to 1,064.66, while the tech-heavy Nasdaq composite index rose 5.18, or 0.2 percent, to 2,138.04.

The dollar rose against other major currencies, sending prices for gold, oil and other commodities tumbling. Commodities are priced in dollars, so a stronger greenback makes them less appealing for foreign investors.

Oil dropped $2.33 to settle at $69.71 a barrel on the New York Mercantile Exchange, driving energy stocks lower. Sunoco Inc. lost 65 cents, or 2.3 percent, to $27.79.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.49 percent from 3.46 percent late Friday.

Trading reflected a shift out of risky assets that have benefited from the stock market's advance and into safer plays like the dollar and government bonds. Investors are taking some money off the table ahead of key government meetings this week, including the Federal Reserve's two-day rate-setting meeting that begins Tuesday.

As long as there are no unwelcome surprises, analysts expect the market to continue to move higher.

"Right now there is not a whole lot to change the overall direction of the market, except for some profit-taking," said Dan Cook, senior market analyst at IG Markets Inc. in Chicago.

The Fed this week is widely expected to keep interest rates at a record low of near zero, but investors will be looking for any indication of when the Fed plans to actually raise rates, a tactic it would use to ward off inflation.

The Fed has kept interest rates low to help stimulate the economy, but if the central bank signals inflation is becoming a concern, that could spook investors. Until now, the Fed has insisted that inflation, which would further erode the value of the dollar and eat into Treasury yields, is largely in check.

On Thursday, President Barack Obama will host the Group of 20 economic summit in Pittsburgh. Analysts say investors are waiting for more clarity following the meetings before they make more bets on the market.

Shares of Perot Systems shot up 65 percent, or $11.65, to $29.56 after Dell offered to buy the company for $30 a share in cash -- a 68 percent premium over the stock's Friday closing price. Dell slid 68 cents, or 4.1 percent, to $16.01.

Two stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 4.7 billion shares compared with 6.1 billion Friday when trading was heavy because of the expiration of options contracts.

The Russell 2000 index of smaller companies fell 1.91, or 0.3 percent, to 615.97.

Overseas, Britain's FTSE 100 fell 0.7 percent, Germany's DAX index dropped 0.6 percent, and France's CAC-40 fell 0.4 percent. A number of other Asian markets, including Japan's, were closed for holidays.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

A falling dollar drove buying in commodities and commodity-related stocks to help the broader market start the session on positive footing, but it was the financial sector that emerged to provide the most leadership. 

In complete contrast to the previous session, the S&P 500 spent the entire session trading in positive territory. Early gains were led by the energy sector (+1.4%), materials sector (+1.2%), and financial sector (+2.3%) after the trio had lagged in the previous session. 

A rebound in commodities drew investors back into the stock market and helped push stocks to new highs for 2009.

Major stock indicators rebounded Tuesday from a drop the day earlier to end at their highest levels in 11 months. The Dow Jones industrials rose 51 points after falling 41 on Monday.

After soaring 50.1 percent since hitting a 12-year low in early March, the Dow stands 170 points below the 10,000 mark -- a level the average first crossed in March 1999 and hasn't been above since October.

*The NYSE DOW closed HIGHER +51.01 points +0.52% on Tuesday September 22*
Sym Last........ ........Change.......... 
Dow 9,829.87 +51.01 +0.52% 
Nasdaq 2,146.30 +8.26 +0.39% 
S&P 500 1,071.66 +7.00 +0.66% 
30-yr Bond 4.2080% -0.0370 

NYSE Volume 5,983,461,500  (prior day 5,310,173,000)
Nasdaq Volume 2,514,368,000  (prior day 2,425,171,000)

Oil 71.50 -0.05 -0.07% 
Gold US$/oz 1014.70 +10.85 +1.08% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,142.60 +8.24 +0.16% 
DAX 5,709.38 +40.73 +0.72% 
CAC 40 3,823.52 +11.36 +0.30% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225		10,370.54	closed
Hang Seng		21,701.14	 +228.29 	+1.06%
Straits Times		2,685.63	 +37.72 	+1.42%

http://finance.yahoo.com/news/Rebound-in-commodities-apf-686439936.html?x=0

*Rebound in commodities carries stocks to 2009 high

Stocks rise to 2009 highs, Dow adds 51 as commodities rebound, Fed begins rates meeting *
By Sara Lepro and Tim Paradis, AP Business Writers 
On Tuesday September 22, 2009, 5:58 pm EDT 

NEW YORK (AP) -- A rebound in commodities drew investors back into the stock market and helped push stocks to new highs for 2009.

Major stock indicators rebounded Tuesday from a drop the day earlier to end at their highest levels in 11 months. The Dow Jones industrials rose 51 points after falling 41 on Monday.

After soaring 50.1 percent since hitting a 12-year low in early March, the Dow stands 170 points below the 10,000 mark -- a level the average first crossed in March 1999 and hasn't been above since October.

In an about-face, the dollar weakened against other major currencies. That helped lift commodities like oil and gold as well as energy and material stocks. Financial stocks also rose sharply.

The gains came as the Federal Reserve began a two-day meeting on interest rates. Investors are hoping the central bank will provide a clearer indication of when it might raise rates. Analysts also expect the statement the Fed issues at the conclusion of its meeting Wednesday will indicate the economy is improving. Fed Chairman Ben Bernanke said last week that the U.S. recession was "likely over" from a technical standpoint even though troubles like high unemployment remain.

The Fed is widely expected to keep rates at their record low of near zero for the time being. Rock-bottom interest rates have helped fuel the market's nearly seven-month old rally, making cash plentiful and cheap and encouraging investors to buy up riskier assets.

The market appears to be following a well-established pattern where brief dips are met with more buying as investors fear missing a continued rally.

"Reluctantly, investors are continually being dragged into a market that is finding a path of least resistance to the upside," said Art Hogan, chief market analyst at Jefferies & Co.

The consensus on Wall Street is that the economy is healing despite challenges like unemployment. But investors still have doubts over how strong the recovery will be, and whether the stock market's surge off of 12-year lows in March accurately reflects the still-fragile state of the economy.

"Right now, it's a more orderly market," said Greg Reynholds, senior vice president of asset management at Lenox Advisors. "People are digesting the data, trying to figure out exactly where we're headed."

The Dow Jones industrial average rose 51.01, or 0.5 percent, to 9,829.87, its highest close since Oct. 6, when it finished at 9,956.

The broader Standard & Poor's 500 index gained 7.00, or 0.7 percent, to 1,071.66, while the Nasdaq composite index rose 8.26, or 0.4 percent, to 2,146.30. Both indexes are at 11-month highs.

More than two stocks rose every one that fell on the New York Stock Exchange, where consolidated volume came to 5.3 billion shares compared with 4.7 billion Monday.

Gold and silver prices rose after three days of drops, while oil prices gained $1.84 to settle at $71.55 a barrel on the New York Mercantile Exchange.

Commodities rose as the U.S. dollar index, which measures the greenback against a basket of foreign currencies, fell 0.8 percent, after earlier hitting a fresh low for the year. The dollar has fallen sharply since early March, making commodities cheaper for foreign investors, as its appeal wanes amid low interest rates and unprecedented government spending designed to stimulate the economy.

Demand for energy and material stocks increased as commodities rose. U.S. Steel Corp. added $2.22, or 4.6 percent, to $50.24, while Chesapeake Energy Corp. jumped $1, or 3.6 percent, to $29.11.

Financial stocks rose after Rochdale Securities analyst Richard Bove raised his target price on Bank of America Corp. to $25 a share. Shares of the Charlotte, N.C.-based bank rose 36 cents, or 2.1 percent, to $17.61.

Among technology stocks, Google Inc. shares hit a 13-month high after a Canaccord Adams analyst raised the target price on the stock to $560. Shares rose as high as $501.99 and ended at $499.06, a gain of $2.06.

Bond prices rose, pushing yields down. The yield on the benchmark 10-year Treasury note fell to 3.45 percent from 3.49 percent late Monday.

In other trading, the Russell 2000 index of smaller companies rose 4.72, or 0.8 percent, to 620.69.

Overseas, Britain's FTSE 100 rose 0.2 percent, Germany's DAX index jumped 0.7 percent, and France's CAC-40 rose 0.3 percent. Japan's markets were closed for a public holiday.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

*Ok except for the last hour!!!*

Action was muted ahead of the latest FOMC policy statement, which spurred buying and sent stocks to their best levels of the year. However, the new highs proved unsustainable as stocks rolled over and closed at session lows with their worst loss since the first of the month. 

The tone to premarket trading had been mildly positive, but stocks lost their way after the opening bell and spent most of the morning drifting in mixed fashion. As such, gains and losses in the broader market were relatively contained. 

Investors were encouraged by the Fed's latest improved assessment of the economy, but not enough to propel the Dow Jones industrial average past 10,000.

Stocks closed lower Wednesday as a brief rally followed the Fed's economic statement and then faded. The Dow came within 82 points of crossing 10,000 for the first time since October, but ended the day with a loss of 81.

Stocks often trade erratically on days when the Fed meets to discuss interest rates, as investors pore over the statement accompanying the Fed's interest rate decision for clues about the economy and what the central bank's next steps might be.

*The NYSE DOW closed LOWER -81.32 points -0.83% on Wednesday September 23*
Sym Last........ ........Change.......... 
Dow 9,748.55 -81.32 -0.83% 
Nasdaq 2,131.42 -14.88 -0.69% 
S&P 500 1,060.87 -10.79 -1.01% 
30-yr Bond 4.1950% -0.0130 

NYSE Volume 6,407,457,000  (prior day 5,983,461,500)
Nasdaq Volume 2,721,736,500  (prior day 2,514,368,000)

Oil 71.50 -0.05 -0.07% 
Gold 1008.20 -6.00 -0.59%

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,139.37 -3.23 -0.06% 
DAX 5,702.05 -7.33 -0.13% 
CAC 40 3,821.79 -1.73 -0.05% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,370.54 closed for a public holiday 
Hang Seng 21,595.52 -105.62 -0.49% 
Straits Times 2,685.94 +0.31 +0.01% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks end lower despite better view from Fed

Improved outlook from the Fed isn't enough to restart stock market's rally *
By Sara Lepro and Seth Sutel, AP Business Writers 
On Wednesday September 23, 2009, 6:48 pm EDT 

NEW YORK (AP) -- Investors were encouraged by the Fed's latest improved assessment of the economy, but not enough to propel the Dow Jones industrial average past 10,000.

Stocks closed lower Wednesday as a brief rally followed the Fed's economic statement and then faded. The Dow came within 82 points of crossing 10,000 for the first time since October, but ended the day with a loss of 81.

Stocks often trade erratically on days when the Fed meets to discuss interest rates, as investors pore over the statement accompanying the Fed's interest rate decision for clues about the economy and what the central bank's next steps might be.

Analysts said there were no surprises from the Fed meeting, though some investors worried that the Fed would pull its supports for the economy too soon.

"I think there is a real concern out there that this is just a head-fake and the stimulus out there is temporary," said Thomas Wilson, managing director of the institutional investments and private client group at Brinker Capital in Berwyn, Pa. He pointed to the Fed's slowing of its purchases of mortgage-backed securities. But he also said "the market got exactly what it was expecting."

The central bank's governors said the pace of economic activity has "picked up" since their last meeting in August, and they said they would keep short-term interest rates at historically low levels near zero "for an extended period."

That allayed any lingering concerns that the Fed was considering a rate increase, something it will have to do eventually in order to keep inflation in check. Higher interest rates would protect against prices creeping higher, but it would also mean greater borrowing costs for banks and businesses, a negative for both stocks and bonds.

In its statement, the Fed said it would "continue to employ a wide range of tools" to spur a recovery while also staving off inflation. It said it would again slow some of its purchases of mortgage-backed securities, part of the extraordinary support the central bank has been giving the economy over the past year. The move shows the Fed is increasingly confident about a recovery.

The Fed's decision on rates and gently upgraded view of the economy were in line with what investors anticipated but didn't give the market enough reason to push higher. Jeffrey Kleintop, chief market strategist at Boston-based broker LPL Financial, said a sharp drop in oil prices had a bigger impact on Wednesday's market.

With major market indicators up more than 50 percent from their lows in early March, many market watchers are worried that stocks have become overvalued, especially with the strength of the economy's recovery still in question. Still despite such doubts, investors continue to buy up stocks as they become afraid of missing out on an extended rally.

The Dow fell 81.32, or 0.8 percent, to 9,748.55. The Standard & Poor's 500 fell 10.79, or 1 percent, to 1,060.87, while the Nasdaq composite fell 14.88, or 0.7 percent, to 2,131.42.

Losing stocks outnumbered winners by about 3-to-2 on the New York Stock Exchange, where consolidated volume came to 5.58 billion shares, up from 5.34 billion Tuesday.

Fed Chairman Ben Bernanke had already tipped off the market last week about the Fed's view on the economy when he said that the recession was "likely over" from a technical standpoint, even as trouble spots like unemployment remain.

"If they had come out with anything other than no changes, the market would have reacted negatively," said Tom Nyheim, vice president and portfolio manager at Christiana Bank & Trust Co. "But the policy decision was uniform, unanimous. They are not concerned about inflation."

The drop in oil prices weighed heavily on energy and industrial shares. The price of crude for November delivery tumbled nearly 4 percent, or $2.79, to settle at $68.97 a barrel on the New York Mercantile Exchange. The decline in energy prices accelerated during the day after the government reported that supplies of crude, gasoline and distillate fuel surged above expectations.

In corporate news, a surprisingly strong earnings report helped lift shares of General Mills Inc. The maker of Cheerios and Yoplait yogurt said its profit jumped 51 percent on lower ingredient costs and solid demand for its products. The food maker also increased its full-year outlook. Shares soared $2.83, or 5 percent, to $63.80.

Bond prices rebounded after the Fed alleviated worries about inflation and said it would keep its short-term interest rate near zero. Treasurys recouped their losses from earlier in the day, which came after somewhat disappointing demand for the latest auction of 5-year notes.

The 10-year note rose 6/32 to 101 20/32 and its yield fell to 3.43 percent from 3.45 percent.

The dollar rose against other major currencies. Gold prices fell

In other trading, the Russell 2000 index of smaller companies fell 7.32, or 1.2 percent, to 613.37.

Overseas, European indexes reversed early gains and finished slightly lower. Britain's FTSE 100, Germany's DAX index and France's CAC-40 all fell 0.1 percent.

Hong Kong's Hang Seng index fell 0.5 percent. Japan's markets were closed for a public holiday.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

A better-than-expected batch of jobless claims data positioned stocks for a rebound from the previous session's late sell-off, but a disappointing existing home sales report and a sharp rebound in the dollar combined to renew selling pressure and hand stocks their second straight loss. 

Stocks dropped 1% in the previous session, but managed to open with a modest gain amid news that the latest initial jobless claims tally fell to its lowest level in two months by totaling 530,000 in the week ending Sept. 19. Economists, on average, had expected initial claims to total 550,000. Continuing claims were also below expectations. They were predicted to total 6.18 million, but came in at 6.14 million, instead. 

Investors pulled away from stocks after an unexpected drop in home sales and a slide in oil prices fanned worries about the pace of the economy's recovery.

Stocks fell for a second day Thursday after the National Association of Realtors said sales of existing homes dropped 2.7 percent in August after jumping 7.2 percent in July. Economists had expected sales would post their fifth straight monthly increase.

The market climbed in morning trading following a surprise drop in the number of people seeking unemployment benefits. The housing numbers upended that advance, however, and stocks never recovered. The Dow Jones industrial average ended with a loss of 41 points to bring its two-day drop to 122 points.

*The NYSE DOW closed LOWER -41.11 points -0.42% on Thursday September 24*
Sym Last........ ........Change.......... 
Dow 9,707.44 -41.11 -0.42% 
Nasdaq 2,107.61 -23.81 -1.12% 
S&P 500 1,050.78 -10.09 -0.95% 
30-yr Bond 4.1740% -0.0210 

NYSE Volume 6,551,804,500  (prior day 6,407,457,000)
Nasdaq Volume 2,646,965,000  (prior day  2,721,736,500)

Oil $71.50 -0.05 -0.07% 
Gold $993.90 -19.10 -1.89%

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,079.27 -60.10 -1.17% 
DAX 5,605.21 -96.84 -1.70% 
CAC 40 3,758.36 -63.43 -1.66% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,544.22 +173.68 +1.67% 
Hang Seng 21,050.73 -544.79 -2.52% 
Straits Times 2,672.11 -13.83 -0.51% 

http://finance.yahoo.com/news/Drop-in-home-sales-tumbling-apf-3138340100.html?x=0

*Drop in home sales, tumbling oil weigh on stocks

Stocks extend losses following surprise drop in home sales, slide in oil; Dow falls 41 points *
By Sara Lepro and Tim Paradis, AP Business Writers 
On Thursday September 24, 2009, 6:02 pm EDT 

 NEW YORK (AP) -- Investors pulled away from stocks after an unexpected drop in home sales and a slide in oil prices fanned worries about the pace of the economy's recovery.

Stocks fell for a second day Thursday after the National Association of Realtors said sales of existing homes dropped 2.7 percent in August after jumping 7.2 percent in July. Economists had expected sales would post their fifth straight monthly increase.

The market climbed in morning trading following a surprise drop in the number of people seeking unemployment benefits. The housing numbers upended that advance, however, and stocks never recovered. The Dow Jones industrial average ended with a loss of 41 points to bring its two-day drop to 122 points.

Financial stocks and home builders also lost ground after the housing numbers.

A stronger dollar weighed on the market by pushing commodity prices lower. That hit stocks of energy and materials companies.

Technology shares could see pressure Friday following disappointing quarterly results from BlackBerry maker Research In Motion Ltd. The company warned that revenue for the current quarter will fall short of analysts' expectations. The stock fell 9 percent in after-market electronic trading.

Thursday's retreat came a day after investors looked past a more upbeat assessment of the economy from the Federal Reserve and worried about what will happen once the government starts to wind down its economic stimulus efforts.

The Fed said on Wednesday it would slow its purchases of mortgage-backed securities to extend the program into early next year. A first-time home buyer's credit is set to expire in November. Then, on Thursday, the Fed said it would reduce two emergency lending programs. One is for short-term loans to banks, while the other allows investment firms to temporarily swap risky securities for safe Treasurys.

"We know what the data looked like with the economy on life support," said Stephen Wood, chief market strategist at Russell Investments. "What the market is beginning to price is what will the data look like when the Fed starts withdrawing that life support and that is not nearly as clear."

Investors are also questioning how much farther the stock market can climb. The Standard & Poor's 500 index has jumped 55.3 percent since hitting a 12-year low on March 9. Other indexes are also up sharply and the climb has come with few pauses. Many market watchers have been predicting a big drop in stocks and see unbroken gains as a sign of indiscriminate buying and a cause for worry.

The Dow fell 41.11, or 0.4 percent, to 9,707.44. The index fell Wednesday as investors worried about how quickly the Fed would rein in its supports for the economy. The Dow is now about 300 points away from the psychological benchmark of 10,000, a level it fell below nearly a year ago.

The S&P 500 index fell 10.09, or 1.0 percent, to 1,050.78, and the Nasdaq composite index fell 23.81, or 1.1 percent, to 2,107.61.

Three stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 5.6 billion shares and was flat with Wednesday.

"Basically, after the (Fed) meeting, investors took that as an excuse to take some profits," said Carmine Grigoli, chief U.S. investment strategist at Mizuho Securities in New York.

The housing data and falling commodities overshadowed the Labor Department's report that the number of newly laid off workers seeking unemployment benefits fell for a third week in a row. Initial claims for unemployment insurance fell by 21,000 last week to 530,000. Economists had been expecting an increase.

Commodities extended their losses from Wednesday as the dollar rose. The currency has weakened this year amid massive government stimulus programs and low interest rates, which has been a boon to commodities. Commodities are priced in U.S. dollars, and a weak greenback makes them more appealing to foreign buyers.

Oil dropped $3.08, or 4.4 percent, to settle at $65.89 a barrel on the New York Mercantile Exchange. That added to a nearly 4 percent slide the day before that came after the government said demand for energy was weak.

Gold ended below $1,000 for the first time in two weeks. Silver also posted a big drop.

Bond prices rose, pushing yields higher. The yield on the benchmark 10-year Treasury note fell to 3.38 percent from 3.43 percent late Wednesday.

The Russell 2000 index of smaller companies fell 11.62, or 1.9 percent, to 601.75.

Overseas, Britain's FTSE 100 lost 1.2 percent, while Germany's DAX and France's CAC-40 both fell 1.7 percent. Japan's Nikkei stock average rose 1.7 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

For the week, the S&P 500 fell 2.2 percent, the Dow dropped 1.6 percent and the Nasdaq declined 2 percent.

Stocks looked as if they were going to trim losses amid some afternoon buying, but sellers redoubled their efforts late in the session to ensure that the stock market would log its third straight loss, which hasn't happened for three weeks. 

Stocks initially looked as if they would firm up after sliding nearly 2% during the course of the previous two sessions, but the mood among participants dampened amid a surprise 2.4% drop in durable goods orders during August. Economists had expected a 0.4% increase. Excluding transportation, orders were flat, which missed the consensus forecast for a 1.0% gain.

Stocks fell for a third straight day on Friday on disappointing housing and durable goods data, while Research In Motion's lackluster results dented optimism about technology spending.

Economic reports showed that new orders for long-lasting U.S. manufactured goods fell by their biggest margin in seven months, while August sales of new home fell short of Wall Street's expectations, raising questions about the strength of the recovery.

With the benchmark S&P 500 having risen almost 60 percent from 12-year lows in early March, the tolerance threshold of less-than-stellar economic data has diminished as investors seek justification for the strong runup in stocks.

*The NYSE DOW closed LOWER -42.25 points -0.44% on Friday September 25*
Sym Last........ ........Change.......... 
Dow 9,665.19 -42.25 -0.44% 
Nasdaq 2,090.92 -16.69 -0.79% 
S&P 500 1,044.38 -6.40 -0.61% 
30-yr Bond 4.0930% -0.0810 

NYSE Volume 5,280,154,500  (prior day 6,551,804,500)
Nasdaq Volume 2,381,302,250  (prior day 2,646,965,000)

Oil 71.50 -0.05 -0.07% 
Gold 990.00 -7.50 -0.75%

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,082.20 +2.93 +0.06% 
DAX 5,581.41 -23.80 -0.42% 
CAC 40 3,739.14 -19.22 -0.51% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,265.98 -278.24 -2.64% 
Hang Seng 21,024.40 -26.33 -0.13% 
Straits Times 2,662.82 -4.61 -0.17% 

http://finance.yahoo.com/news/Recovery-angst-RIMs-results-rb-448963987.html?x=0

*Recovery angst, RIM's results hit Wall Street*
On Friday September 25, 2009, 5:57 pm EDT 
By Ellis Mnyandu

NEW YORK (Reuters) - Stocks fell for a third straight day on Friday on disappointing housing and durable goods data, while Research In Motion's lackluster results dented optimism about technology spending.

Economic reports showed that new orders for long-lasting U.S. manufactured goods fell by their biggest margin in seven months, while August sales of new home fell short of Wall Street's expectations, raising questions about the strength of the recovery.

With the benchmark S&P 500 having risen almost 60 percent from 12-year lows in early March, the tolerance threshold of less-than-stellar economic data has diminished as investors seek justification for the strong runup in stocks.

Economically sensitive stocks bore the brunt of the selloff, including technology, big manufacturers, banks, home builders and some consumer companies.

Shares of Research In Motion (Toronto:RIM.TO - News; NasdaqGS:RIMM - News), down 17.04 percent to $68.91, were a top drag on Nasdaq, a day after the maker of BlackBerry devices posted quarterly revenue below Wall Street's forecasts and offered a disappointing outlook.

"The data on the health of the residential market and durable goods do not support a quick recovery thesis," said David Dietze, chief investment officer of Point View Financial Services in Summit, New Jersey.

"We need to see some data points that are leading us in the right direction."

The Dow Jones industrial average (DJI:^DJI - News) fell 42.25 points, or 0.44 percent, to 9,665.19. The Standard & Poor's 500 Index (^SPX - News) dropped 6.40 points, or 0.61 percent, to 1,044.38. The Nasdaq Composite Index (Nasdaq:^IXIC - News) declined 16.69 points, or 0.79 percent, to 2,090.92.

A rise in shares of companies which fare better in an uncertain economy, including Coca-Cola Co (NYSE:KO - News), helped indexes finish the session off their worst levels. Even so, the S&P 500 snapped a two-week winning streak and suffered its biggest weekly drop since early July.

For the week, the S&P 500 fell 2.2 percent, the Dow dropped 1.6 percent and the Nasdaq declined 2 percent.

Wal-Mart Stores Inc (NYSE:WMT - News), off 2.4 percent to $49.47, was the Dow's worst drag, followed by United Technologies Corp (NYSE:UTX - News), down 1.3 percent to $61.54.

Homebuilder KB Home (NYSE:KBH - News) slumped 8.5 percent to $16.96 after reporting a wider-than-expected quarterly loss and its chief executive warned he does not expect meaningful improvement in the U.S. housing market in the near future.

The Dow Jones home construction index (DJI:^DJUSHB - News) declined 2.8 percent.

Shares of credit card company American Express Co (NYSE:AXP - News) fell 2.3 percent to $33.07, while JPMorgan (NYSE:JPM - News) declined 1.6 percent to $43.65. The S&P financial index (^GSPF - News) shed 1.1 percent.

Before this week's selling, stocks had rallied sharply for six months on expectations that the recovery was gaining traction.

But besides worrying about the recovery, the market also is nervous that authorities might curb stimulus measures too soon.

Volume was moderate, with about 1.20 billion shares changing hands on the New York Stock Exchange, compared with last year's estimated daily average of 1.49 billion. On the Nasdaq, about 2.39 billion shares traded, above last year's daily average of 2.28 billion.

Declining stocks outnumbered advancing ones by a ratio of about 6 to 5 on the NYSE, while on Nasdaq about 4 stocks fell for every 3 that rose.
167


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

News of renewed merger and acquisition activity didn't bring many participants to the market, but stocks were still able to sport broad-based gains for the entire session and log their best gain in one month. 

Stocks were given support in the early going by news that Xerox (XRX 7.68, -1.29) will pay $6.4 billion in cash and stock for Affiliated Computer Systems (ACS 53.86, +6.61), while Abbott Labs (ABT 48.58, +1.12) will pay $6.6 billion in cash for Solvay's drug business. 

A burst of corporate dealmaking is giving investors a shot of confidence about the economy.

Stock indexes rose more than 1 percent in light trading Monday to break a three-day slide. The Dow Jones industrial average rose 124 points for its biggest gain in more than a month, recouping much of what it lost last week.

Large acquisitions from Abbott Laboratories and Xerox Corp. pushed shares of drugmakers and technology companies higher, and the buying spread to other parts of the market as investors hoped that the $6 billion-plus deals could be a sign that takeover activity is finally picking up.

*The NYSE DOW closed HIGHER +124.17 points +1.28% on Monday September 28*
Sym Last........ ........Change.......... 
Dow 9,789.36 +124.17 +1.28% 
Nasdaq 2,130.74 +39.82 +1.90% 
S&P 500 1,062.98 +18.60 +1.78% 
30-yr Bond 4.0450% -0.0480 

NYSE Volume 4,384,575,500  (prior day 5,280,154,500)
Nasdaq Volume 1,927,811,120  (prior day 2,381,302,250)

Oil 71.50 -0.05 -0.07% 
Gold 988.90 -1.40 -0.14%

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,165.70 +86.43 +1.70% 
DAX 5,736.31 +154.90 +2.78% 
CAC 40 3,825.00 +85.86 +2.30% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,009.52 -256.46 -2.50% 
Hang Seng 20,588.41 -435.99 -2.07% 
Straits Times 2,629.25 -32.92 -1.24% 

http://finance.yahoo.com/news/Xerox-Abbott-deals-boost-apf-3840958588.html?x=0

*Xerox, Abbott deals boost stocks; Dow gains 124

Stocks jump as investors see burst of takeovers as good sign for a recovery *
By Tim Paradis, AP Business Writer 
On Monday September 28, 2009, 6:19 pm EDT 

NEW YORK (AP) -- A burst of corporate dealmaking is giving investors a shot of confidence about the economy.

Stock indexes rose more than 1 percent in light trading Monday to break a three-day slide. The Dow Jones industrial average rose 124 points for its biggest gain in more than a month, recouping much of what it lost last week.

Large acquisitions from Abbott Laboratories and Xerox Corp. pushed shares of drugmakers and technology companies higher, and the buying spread to other parts of the market as investors hoped that the $6 billion-plus deals could be a sign that takeover activity is finally picking up.

A resumption of corporate takeovers would represent an important milepost in the recovery of the financial system. Mergers had slowed to a trickle since the peak of the financial crisis a year ago as companies became fearful of parting with cash. Even those that were willing to had trouble lining up financing in the ailing credit markets.

A willingness by big companies to wager stock and borrow money to bulk up their business also sets off a guessing game over what the next takeover targets might be. Just last week Dell Inc. said it would acquire technology company Perot Systems Corp. for $3.9 billion, and earlier this month Kraft Foods Inc. made an overture for candy maker Cadbury PLC for $16.7 billion.

Stocks have surged since March as investors jockeyed to stay ahead of a strengthening in the economy, but the pace of those gains has some analysts worried that the advance is overdone. The willingness of companies to pursue big deals helped ease some of those worries, at least for now.

"It's encouraging to all investors when you see companies buy because basically what that says is they're in a more aggressive mode as opposed to being in the fetal position," said Mark Coffelt, portfolio manager at Empiric Funds in Austin, Texas.

The Dow rose 124.17, or 1.3 percent, to 9,789.36, its biggest advance since Aug. 21. Last week, the Dow lost 155 points following lackluster reports on housing and manufacturing. The Dow's latest gain puts it about 200 points from the psychological barrier of 10,000. The index fell below that level in October as markets plunged and hasn't crossed back over it since.

The broader Standard & Poor's 500 index rose 18.60, or 1.8 percent, to 1,062.98, and the Nasdaq composite index rose 39.82, or 1.9 percent, to 2,130.74.

Four stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 3.8 billion shares compared with 4.6 billion Friday. It was the lightest day since July 10. Trading was thin as some market participants were out for Yom Kippur, the holiest day of the Jewish calendar. Lower trading volume can skew the market's moves.

In corporate deal activity, Abbott Labs said Monday it would acquire the pharmaceutical business of Belgian chemicals maker Solvay for $6.6 billion, while Xerox Corp. agreed to buy Affiliated Computer Services for about $6.4 billion.

"It's a sign of a return to normalcy," said Thomas K.R. Wilson, managing director of Brinker Capital's institutional investment group in Berwyn, Pa., referring to the acquisitions.

Charlie Smith, chief investment officer at Fort Pitt Capital in Pittsburgh, said it's a welcome sign that the credit markets are stronger when businesses like Xerox can put together a deal. "Xerox could not have done this deal back in March or April," Smith said.

Some money managers are racing to catch up with the market's advance before the third quarter ends on Wednesday. The Dow is up 16 percent for the quarter and is on pace for its best quarter since the fourth quarter of 1998, when it rose 17.1 percent.

Abbott Labs rose $1.25, or 2.6 percent, to $48.58. Abbott's purchase of Brussels-based Solvay gives the company access to emerging markets in Eastern Europe and Asia along with new therapeutic areas such as the fast-growing market for vaccines.

Xerox's deal for ACS set off a rally in other information-technology companies. Accenture PLC and Unisys Corp. climbed. Affiliated Computer jumped $6.61, or 14 percent, to $53.86, while Xerox fell $1.29, or 14.4 percent, to $7.68.

Tech shares got another boost from Cisco Systems Inc., which rose 99 cents, or 4.4 percent, to $23.61 after a Barclays Capital analyst raised his rating on the maker of networking equipment maker as he predicted improved demand from telecommunications companies would boost revenue.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.28 percent from 3.32 percent late Friday.

The dollar was mixed against other currencies. Gold prices rose.

The Russell 2000 index of smaller companies rose 14.28, or 2.4 percent, to 613.22.

Britain's FTSE 100 rose 1.6 percent, Germany's DAX index rose 2.8 percent, and France's CAC-40 advanced 2.3 percent. Japan's Nikkei stock average fell 2.5 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Tuesday's trade concluded in lackluster fashion as an absence of leadership left stocks to drift during the afternoon, unable to reclaim their initial gains. 

Stocks had started the session in higher ground as a better-than-expected S&P/Case-Shiller Home Price Report for July brought about some modest support. The report's 20-City Composite showed a 13.3% year-over-year decline, which wasn't as bad as the 14.2% decline that was expected. 

A surprise drop in consumer confidence tripped up investors Tuesday, a day after a round of corporate takeovers set off a steep market rally.

Stocks slid after the Conference Board said its consumer confidence index fell in September. Economists had been expecting a reading of 57; instead it came in at 53.1.

The private research group said consumers are still worried about losing their jobs. Many analysts warn a turnaround in the economy won't hold if consumers don't start picking up spending and employers add jobs.

*The NYSE DOW closed LOWER -47.16 points -0.48% on Tuesday September 29*
Sym Last........ ........Change.......... 
Dow 9,742.20 -47.16 -0.48% 
Nasdaq 2,124.04 -6.70 -0.31% 
S&P 500 1,060.61 -2.37 -0.22% 
30-yr Bond 4.0230% -0.0220 

NYSE Volume 5,652,462,500  (prior day 4,384,575,500)
Nasdaq Volume 2,110,500,500  (prior day 1,927,811,120)

Oil 71.50 -0.05 -0.07% 
Gold 992.00 -0.50 -0.05%

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,159.72 -5.98 -0.12% 
DAX 5,713.52 -22.79 -0.40% 
CAC 40 3,814.10 -10.90 -0.28% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,100.20 +90.68 +0.91% 
Hang Seng 21,013.17 +424.76 +2.06% 
Straits Times 2,663.31 +34.06 +1.30% 

http://finance.yahoo.com/news/Drop-in-consumer-confidence-apf-1913425646.html?x=0

*Drop in consumer confidence weighs on stocks

Stocks fall as market absorbs mixed news on home prices and consumer confidence; Dow falls 47 *
By Sara Lepro, AP Business Writer 
On Tuesday September 29, 2009, 6:15 pm EDT 

NEW YORK (AP) -- A surprise drop in consumer confidence tripped up investors Tuesday, a day after a round of corporate takeovers set off a steep market rally.

Stocks slid after the Conference Board said its consumer confidence index fell in September. Economists had been expecting a reading of 57; instead it came in at 53.1.

The private research group said consumers are still worried about losing their jobs. Many analysts warn a turnaround in the economy won't hold if consumers don't start picking up spending and employers add jobs.

The report offset early enthusiasm over an increase in home prices.

Stocks broke a three-day losing streak Monday after news of several big acquisitions signaled to investors that corporate America is feeling more confident about the economy and willing to take on more risk through mergers and acquisitions.

"You had these M&A deals make people feel better about growth prospects and valuations," said Nick Kalivas, vice president of financial research and senior equity index analyst at MF Global. "We don't have any followthrough M&A today and the market really lacks a forward catalyst."

With economic reports still mixed, some investors are hesitant to keep buying and extend the market's nearly seven-month advance, or at least keep it going at the same fervid pace. The benchmark Standard & Poor's 500 index has gained 56.8 percent since hitting a 12-year low in March.

"Stock have been moving aggressively up," said Lawrence Creatura, portfolio manager at Federated Clover Investment Advisors. "It's natural for investors to want to lock in some of those gains as we end the quarter."

The Dow Jones industrials fell 47.16, or 0.5 percent, to 9,742.20, chipping away part of Monday's 124-point gain. The S&P 500 index slipped 2.38, or 0.2 percent, to 1,060.60, and the Nasdaq composite index fell 6.70, or 0.3 percent, to 2,124.04.

The Russell 2000 index of smaller companies fell 2.77, or 0.5 percent, to 610.45.

Falling stocks narrowly outpaced those that rose on the New York Stock Exchange, where consolidated volume came to 5 billion shares, compared with 3.8 billion Monday when trading was light because of the Jewish holiday Yom Kippur.

Stocks jumped Monday as news of large takeovers by Xerox Corp. and Abbott Laboratories brought hope that corporate dealmaking could be making a comeback. That would be a sign that borrowing is getting easier and that companies expect the economy to improve.

Analysts have been saying that some retreat in stocks will help the market avoid getting overheated. But so far, breaks in the advance have been mild and brief, as investors look for opportunities to buy into the market.

"There hasn't been any followthrough on those down days," said Howard Ward, portfolio manager at GAMCO Growth Fund, whose portfolio is concentrated in areas most sensitive to the economy, including technology, energy and financial stocks.

The market could have trouble resuming its advance if economic reports don't boost optimism. Despite better signs on manufacturing and home sales, unemployment stands at a 26-year high of 9.7 percent. Investors will get the latest news on employment Friday when the Labor Department releases its monthly jobs report, one of the most closely watched economic reports.

The Standard & Poor's/Case-Shiller home price index of 20 major cities provided the latest encouraging sign for the housing market. The index rose 1.2 percent in July from June. Home prices are still 13.3 percent below July a year ago, but the annual drops have slowed in all 20 cities for the past six months.

Energy stocks slid as oil lost ground amid worries that the economy won't be strong enough to lift demand as much as expected. Oil had been steadily rising in recent months on expectations that the economy was going to be stronger, therefore pushing demand higher.

Crude fell 13 cents to settle at $66.71 on the New York Mercantile Exchange.

In other trading, bond prices mostly fell after five days of gains. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.29 percent from 3.28 percent late Monday.

The dollar was mixed against other major currencies, while gold edged higher.

Overseas, Britain's FTSE 100 fell 0.1 percent, Germany's DAX index lost 0.4 percent, and France's CAC-40 slipped 0.3 percent. Japan's Nikkei stock average rose 0.9 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

An early selling effort dropped stocks from an initial gain to a loss of more than 1%, but stocks gradually made their way back to positive ground before falling under a second wave of selling pressure. Although they finished the session with a loss, stocks still logged impressive gains for the month. 

The stock market had a fitting end to a stellar but erratic third quarter as investors still ambivalent about the economy shuttled between bouts of buying and selling.

Wall Street's major indexes ended the July-September period with big gains Wednesday as investors placed more bets that the recovery will keep gathering momentum. The Dow Jones industrials and Standard & Poor's 500 index both ended the quarter with gains of more than 15 percent, even as they pulled back modestly on the quarter's last day.

The gains didn't always come easily during the quarter, and the Dow's performance is proof. The average, which had its best three-month showing in nearly 11 years, came within 82 points of reclaiming 10,000, only to fall back as investors' optimism was chilled by news that housing and manufacturing weren't as strong as many had thought.

*The NYSE DOW closed LOWER -29.92 points -0.31% on Wednesday September 30*
Sym Last........ ........Change.......... 
Dow 9,712.28 -29.92 -0.31% 
Nasdaq 2,122.42 -1.62 -0.08% 
S&P 500 1,057.08 -3.53 -0.33% 
30-yr Bond 4.0480% +0.0250 

NYSE Volume 7,340,309,000  (prior day 5,652,462,500)
Nasdaq Volume 2,754,416,750  (prior day 2,110,500,500)

Oil 71.50 -0.05 -0.07% 
Gold US$/oz 1006.05 +14.30 +1.44%

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,133.90 -25.82 -0.50% 
DAX 5,675.16 -38.36 -0.67% 
CAC 40 3,795.41 -18.69 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,133.23 +33.03 +0.33% 
Hang Seng 20,955.25 -57.92 -0.28% 
Straits Times 2,672.57 +9.26 +0.35% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks slip but still have best quarter since 1998

Poor manufacturing report upsets stock rally; Market still posts best quarter in 11 years*

By Tim Paradis, AP Business Writer 
On Wednesday September 30, 2009, 7:06 pm EDT 

NEW YORK (AP) -- The stock market had a fitting end to a stellar but erratic third quarter as investors still ambivalent about the economy shuttled between bouts of buying and selling.

Wall Street's major indexes ended the July-September period with big gains Wednesday as investors placed more bets that the recovery will keep gathering momentum. The Dow Jones industrials and Standard & Poor's 500 index both ended the quarter with gains of more than 15 percent, even as they pulled back modestly on the quarter's last day.

The gains didn't always come easily during the quarter, and the Dow's performance is proof. The average, which had its best three-month showing in nearly 11 years, came within 82 points of reclaiming 10,000, only to fall back as investors' optimism was chilled by news that housing and manufacturing weren't as strong as many had thought.

On the quarter's last day, stocks got an early lift from an improvement in the government's report on the second-quarter gross domestic product, then tumbled on news of a surprise drop in the September Chicago Purchasing Managers index, which measures Midwestern manufacturing.

Analysts who are generally upbeat about the market's prospects for the fourth quarter say the pattern is likely to hold: Bad news will hit the market, reminding investors of the economy's fragility, and stocks will slide. But within a few days, or even the same day, they'll recover as investors grab hold of the fact that no one expects the recovery, or stocks, to have an unbroken path upward.

"Any legitimate decline in the market is just seen as a buying opportunity," said David Waddell, senior investment strategist and CEO of Waddell & Assoc. "That pattern has continued now ever since the rally began."

The rally began in March, with the first signs that the economy might be recovering. The market's stats show how huge the rally has been:

-- The Dow is up 15 percent for the quarter, its best gain since the fourth quarter of 1998. It's up 48.4 percent from its 12-year low of 6,547.05 in March. From a year ago, when the financial crisis worsened, the index is down 10.2 percent. The Dow is still down 21.4 percent from its peak of 14,164.53 in October 2007, but that's quite an improvement considering it fell 53.8 percent from that record.

-- The S&P 500 index is up 15 percent for the quarter and 56.3 percent from March. It is down 9.1 percent from a year ago and 32.5 percent from its high of 1,565.15 in October 2007.

-- The Nasdaq composite index, which has a big concentration of technology stocks, was the best performer. It rose 15.7 percent in the quarter and is up 67.3 percent from March.

On Wednesday, the Dow ended down 29.92, or 0.3 percent, at 9,712.28 after falling nearly 134 points. The S&P 500 index fell 3.53, or 0.3 percent, to 1,057.08. The Nasdaq fell 1.62, or 0.1 percent, to 2,122.42.

The Russell 2000 index of smaller companies fell 6.17, or 1 percent, to 604.28.

Three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume came to 6.4 billion shares compared with 5 billion shares traded Tuesday.

The next test for the market comes at the very start of the fourth quarter, with the release of the Institute for Supply Management report on manufacturing during September, and the government's jobs report for the month on Friday.

The market could have trouble continuing its advance if economic reports don't boost optimism.

Steve Hagenbuckle, managing principal for TerraCap Partners in New York, expects that corporate earnings will likely exceed expectations again for the third quarter and help boost the market.

"The corporate numbers will continue to be met or exceeded so I think we'll continue to run up," he said.

But many investors have doubts. A recent survey by the American Association of Individual Investors found that bearishness among investors stood at 44.5 percent, above the long-term average of 30 percent.

As a result, many investors are still paddling to safer investments. In August, investors funneled $42.9 billion into bond funds and only $3.9 billion into stock funds, according to the Investment Company Institute, the mutual fund trade group.

Some of the hardest-hit stocks in the market's slide that intensified a year ago posted spectacular gains in the third quarter. Financial stocks led the 10 industry groups that make up the S&P 500 index with a gain of 25 percent. Industrials rose about 21 percent, as did materials companies like chemical producers and paper makers.

Some stocks logged enormous advances for the quarter. Newspaper publisher Gannett Inc. surged 250 percent, while Hartford Financial Services Group Inc. jumped 123 percent. There were exceptions. Commercial lender CIT Group Inc. tumbled 43.7 percent as investors worried about its stability. Sprint Nextel Corp. slid 17.9 percent.

The month of September wound up being far better for the market than many people anticipated.

Stocks had tumbled on Sept. 1 as traders worried about what might happen during that month, which has historically been the worst of the year for stocks. But the slide many had feared never materialized.

The S&P 500 index finished this September with a gain of 3.6 percent, far better than the average loss of 1.2 percent it posted in Septembers going back to 1929. It wasn't hard to beat the dismal performance of September last year, when it skidded 9.1 percent as credit markets froze following the collapse of Lehman Brothers Holdings Inc.

October tends to be a better month on average for the market, but it still strikes fear in many trading rooms since it's home to the crashes of 1929 and 1987. Last year, it also saw the Dow plunge 1,874.19 points, or 18.2 percent, in just one week.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

A deluge of data and concern regarding tomorrow's jobs report pushed buyers to the sidelines. That left stocks to drop sharply in broad-based fashion, resulting in the stock market's worst single-session percentage loss since July. 

The dour mood among participants was evident from the start. Stocks started in the red as the previous session's lackluster finish carried over into morning trade and foreign markets faltered. News that the International Monetary Fund raised its forecast for 2010 global economic growth to 3.1% from 2.5% had no real positive impact. 

Stocks began the fourth quarter with their worst drop in three months after reports on the job market and manufacturing reawakened investors' pessimism about the economy.

The Dow Jones industrial average tumbled 203 points Thursday, while all the major indexes fell between 2 percent and 3 percent. The slide intensified in the final minutes of the day, signaling that traders were growing nervous ahead of the government's key September jobs report due before the opening bell Friday.

Bond prices jumped as investors sought a safer place for their money.

*The NYSE DOW closed LOWER -203.00 points -2.09% on Thursday October 1*
Sym Last........ ........Change.......... 
Dow 9,509.28 -203.00 -2.09% 
Nasdaq 2,057.48 -64.94 -3.06% 
S&P 500 1,029.85 -27.23 -2.58% 
30-yr Bond 3.9590% -0.0890 

NYSE Volume 6,914,691,000  (prior day 7,340,309,000)
Nasdaq Volume 2,751,699,500  (prior day 2,754,416,750)

Oil 71.50 -0.05 -0.07% 
Gold US$/oz 997.85 -9.00 -0.89 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,047.81 -86.09 -1.68% 
DAX 5,554.55 -120.61 -2.13% 
CAC 40 3,720.77 -74.64 -1.97% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,978.64 -154.59 -1.53% 
Hang Seng 20,955.25 -57.92 -0.28% 
Straits Times 2,657.44 -15.13 -0.57% 

http://finance.yahoo.com/news/Manufacturing-employment-apf-2632850236.html?x=0

*Manufacturing, employment reports pound stocks

Stocks tumble on disappointing reports on manufacturing, unemployment; Dow slides 203 points*

By Tim Paradis, AP Business Writer 
On Thursday October 1, 2009, 5:57 pm EDT 

NEW YORK (AP) -- Stocks began the fourth quarter with their worst drop in three months after reports on the job market and manufacturing reawakened investors' pessimism about the economy.

The Dow Jones industrial average tumbled 203 points Thursday, while all the major indexes fell between 2 percent and 3 percent. The slide intensified in the final minutes of the day, signaling that traders were growing nervous ahead of the government's key September jobs report due before the opening bell Friday.

Bond prices jumped as investors sought a safer place for their money.

It was the sixth drop in seven days for stocks and another reminder of how fragile the market's seven-month rally has become. The economic reports overshadowed a more upbeat assessment on housing and added urgency to questions about how strong the recovery really is.

"Fear is still very, very fresh in people's minds and the magnitude of the potential disaster that we had last September through March, I think still has investors pretty skittish," said Darell Krasnoff, managing director of Bel Air Investment Advisors in Los Angeles. "So our sense is that some bad news can shift sentiment pretty quickly."

The latest worries erupted when the Labor Department said new claims for jobless benefits rose last week to 551,000. Economists had expecting claims would be essentially unchanged at 535,000, according to a survey by Thomson Reuters.

The mood on Wall Street darkened when the Institute for Supply Management said its index of manufacturing activity in September fell rather than rose as analysts had expected.

The employment figures rattled investors already worried about the job market. Economists predict that unemployment, which stands at a 26-year high of 9.7 percent, will rise to 9.8 percent for September. Most analysts expect the rate to top 10 percent by early next year. Economists are hoping the pace of job cuts will slow, however. Employers are expected to have cut 180,000 jobs in September compared with 216,000 in August.

The monthly report carries more weight with investors because it is less volatile than the weekly readings.

Christian Bendixen, director of technical research at Bay Crest Partners LLC in New York, said recent economic numbers have reminded investors that a recovery will be a difficult process rather than an unbroken improvement.

"For the first time in a while they're coming in a little bit lower than expectations and I think that's scaring a few investors," he said.

The Dow fell 203.00, or 2.1 percent, to 9,509.28, its lowest close since Sept. 8. The drop was the biggest since July 2, when the index fell 223 points, or 2.6 percent, after the government said unemployment had risen.

The Dow shed 50 points in the final 10 minutes of trading. The late-day slide was reminiscent of the harrowing drops that buffeted the market a year ago as a freeze in the credit markets choked the economy.

Even with the drop, the Dow is still up 45.3 percent from a 12-year low of 6,547 in early March.

The broader Standard & Poor's 500 index fell 27.23, or 2.6 percent, to 1,029.85, and the Nasdaq composite index dropped 64.94, or 3.1 percent, to 2,057.48.

The Russell 2000 index of smaller companies fell 20.53, or 3.4 percent, to 583.75.

Five stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 6 billion shares compared with 6.4 billion Wednesday.

Bond prices jumped as investors sought safety, sending the yield on the 10-year Treasury note down to 3.18 percent -- its lowest since May -- from 3.31 percent late Wednesday.

Several economic reports this week have raised doubts about the strength of the recovery and whether the market rally should continue. Reports on consumer confidence and Midwestern manufacturing fell short of expectations.

The bad start to October came a day after stocks wrapped up a stellar third quarter. Both the Dow and the S&P 500 index gained 15 percent. It was the Dow's best quarter in nearly 11 years.

In other economic news Thursday, the Commerce Department said consumer spending surged by the largest amount in nearly eight years in August, even as personal income growth lags. However, with part of the advance in spending due to the government's Cash for Clunkers program, analysts were doubting it could be sustained.

Meanwhile, the National Association of Realtors said pending home sales in August rose 6.4 percent from July to 103.8. Economists surveyed by Thomson Reuters expected the index would rise to 98.6.

Marc Harris, co-head of global research for RBC Capital Markets in New York, said caution among many investors could prevent the market from getting overheated. He pointed to a recent RBC survey of more than 700 financial executives that found more than half expected a gradual economic recovery while far fewer called for a steep rebound. That pessimism is keeping some investors from rushing into the market.

"Not everybody has jumped into the pool yet," he said.

Harris predicts trading will be volatile as questions about the pace of the recovery dog investors.

"We've forgotten the world that we were living through not long ago," he said. "People thought we were heading to zero on the S&P. I'll take a 1,029 any day."

The dollar mostly rose against other major currencies, while gold slid.

Light, sweet crude rose 21 cents to settle at $70.82 a barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 fell 1.7 percent, Germany's DAX index slid 2.1 percent, and France's CAC-40 lost 2 percent. Japan's Nikkei stock average fell 1.5 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week down 177.52, or 1.8 percent, at 9,487.67. The Standard & Poor's 500 index fell 19.17, or 1.8 percent, to 1,025.21. The Nasdaq composite index fell 42.81, or 2 percent, to 2,048.11.

Technical support and a retreating dollar helped stocks bounce back after falling sharply in response to a disappointing jobs report, but there simply weren't enough buyers to drive stocks to a sustainable gain. In turn, stocks logged their fourth straight loss, which left the stock market down 1.8% for the week.

Investors retreated further from stocks Friday as the pile of disappointing economic reports grew larger.

A modest slide left stocks lower for a second week, the first consecutive drop since July. The Dow Jones industrial average fell for a fourth day, losing 22 points one day after sliding 203 on reports of weak manufacturing and a jump in claims for jobless benefits.

The loss Friday came as the government said employers cut more jobs than economists had expected last month and that orders at factories fell. The reports added to concerns that the economy's recovery could be further off than had been hoped.

*The NYSE DOW closed LOWER -21.61 points -0.23% on Friday October 2*
Sym Last........ ........Change.......... 
Dow 9,487.67 -21.61 -0.23% 
Nasdaq 2,048.11 -9.37 -0.46% 
S&P 500 1,025.21 -4.64 -0.45% 
30-yr Bond 4.0110% +0.0520 

NYSE Volume 6,521,788,000  (prior day 6,914,691,000)
Nasdaq Volume 2,482,226,750  (prior day 2,751,699,500)

Oil 71.50 -0.05 -0.07%
Gold 1003.20 +3.70 +0.37%

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 4,988.70 -59.11 -1.17% 
DAX 5,467.90 -86.65 -1.56% 
CAC 40 3,649.90 -70.87 -1.90% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,731.87 -246.77 -2.47% 
Hang Seng 20,375.49 -579.76 -2.77% 
Straits Times 2,604.53 -52.91 -1.99% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks fall following disappointing jobs report

Stocks fall but end off lows after disappointing jobs report for September; Dow slips 22*

By Sara Lepro and Tim Paradis, AP Business Writers 
On Friday October 2, 2009, 6:18 pm EDT 

 NEW YORK (AP) -- Investors retreated further from stocks Friday as the pile of disappointing economic reports grew larger.

A modest slide left stocks lower for a second week, the first consecutive drop since July. The Dow Jones industrial average fell for a fourth day, losing 22 points one day after sliding 203 on reports of weak manufacturing and a jump in claims for jobless benefits.

The loss Friday came as the government said employers cut more jobs than economists had expected last month and that orders at factories fell. The reports added to concerns that the economy's recovery could be further off than had been hoped.

The Labor Department surprised investors with its report that employers shed 263,000 jobs last month. The cuts went beyond the 201,000 jobs lost in August and were far larger than the 180,000 economists expected. The unemployment rate ticked up to 9.8 percent from 9.7 percent as forecast.

The report is often the most anticipated piece of economic news each month because an eventual drop in unemployment is key to sustained recovery.

"There's been a lot of talk particularly in the last couple of months that we're seeing a turnaround in unemployment, and obviously that's not the case," said Dan Cook, senior market analyst at IG Markets in Chicago.

Meanwhile, the surprise drop in factory orders added to the lackluster economic readings of the past two weeks. The Commerce Department said factory orders fell 0.8 percent in August. Analysts had been expecting an increase.

The market's optimism has been tested by economic data that have either weakened or fallen short of expectations, a disappointment after several months of hopeful signs from key industries like housing and manufacturing. That has led investors to question whether the 50 percent surge in stocks over the past six months can be sustained.

With nerves running high, stocks have fallen in seven of the last eight days. The Dow has lost about 4.3 percent since coming within 82 points of the 10,000 level on Sept. 23.

Bruce Shalett, managing partner, Wynston Hill Capital in New York said the jobs report was "a reminder that while things are not as dire as they were a year ago, we still have a lot of work to do."

Many found the relatively calm response to the jobs report encouraging, taking it as a sign there are still investors willing to use the dips to pick up stocks they consider cheap.

"Pullbacks are going to constantly be used as opportunities to get into the market," said Hank Smith, chief investment officer of equity at Haverford Investments in Radnor, Pa.

Some of Thursday's slide was likely due to investors making bets that the employment number would indeed be bad. That would also help explain Friday's muted selling. The Dow fell 21.61, or 0.2 percent, to 9,487.67, its lowest close since Sept. 4. The index fell as much as 79 points during trading.

The broader Standard & Poor's 500 index fell 4.64, or 0.5 percent, to 1,025.21, and the Nasdaq composite index fell 9.37, or 0.5 percent, to 2,048.11.

Two stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 5.6 billion shares compared with 6 billion Thursday.

For the week, the Dow fell 1.8 percent, its biggest loss since early July. The S&P 500 index lost 1.8 percent after falling 2.2 percent last week. The Nasdaq fell 2 percent for the week.

Stocks are coming off a robust third quarter. Both the Dow and the S&P 500 index gained 15 percent in the July-September period. It was the Dow's best quarter since 1998.

The fourth quarter may not be as stellar. Analysts expect the market to drift over the next few weeks as investors await companies' earnings reports and their forecasts for the coming months. The last big pullback in the market came in the weeks before second-quarter earnings were announced in July.

"October is shaping up to be a challenging month for investors," said Brent McQuiston, a vice president at WealthTrust-Arizona.

Strong earnings could help offset any growing concerns about a recovery and stabilize the market, he said, but solid revenue growth is what is needed to put the market on "firm footing." In the second quarter, many companies' sales were disappointing, and it was only through cost-cutting that profits were able to rise.

Yields on long-term Treasurys moved off their lowest levels since the spring. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.22 percent from 3.18 percent late Thursday.

The dollar was mixed against other currencies. Gold prices edged higher.

Crude oil fell 87 cents to settle at $69.95 a barrel on the New York Mercantile Exchange.

In other trading, the Russell 2000 index of smaller companies fell 3.55, or 0.6 percent, to 580.20.

Overseas, Britain's FTSE 100 fell 1.2 percent, Germany's DAX index lost 1.6 percent, and France's CAC-40 tumbled 1.9 percent. Japan's Nikkei stock average fell 2.5 percent.

The Dow Jones industrial average closed the week down 177.52, or 1.8 percent, at 9,487.67. The Standard & Poor's 500 index fell 19.17, or 1.8 percent, to 1,025.21. The Nasdaq composite index fell 42.81, or 2 percent, to 2,048.11.

The Russell 2000 index, which tracks the performance of small company stocks, fell 18.74, or 3.1 percent, for the week to 580.20.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 10,469.55, down 208.14, or 2 percent.

601


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

A strong advance by the financial sector and a weaker U.S. dollar helped give the stock market its first gain in five sessions. 

The major indices started the session with modest gains, but shares of diversified banks wasted little time putting together their best percentage gain in two months. The group was helped along by news that analysts at Goldman Sachs raised their rating on the U.S. large-cap bank sector. Diversified banks finished the session 5.6% higher, which lifted the broader financial sector to a 3.3% gain and helped it outperform every other major sector. 

The first growth in the service industry in a year and upbeat comments about big banks pulled investors into the stock market after two losing weeks.

The Dow Jones industrial average rose 112 points as all major stock indicators gained 1 percent.

The Institute for Supply Management said its service index rose to 50.9 in September from 48.4 in August. Analysts polled by Thomson Reuters had expected a reading of 50, the dividing line between growth and contraction. The index hadn't grown since August of last year.

*The NYSE DOW closed HIGHER +112.08 points +1.18% on Monday October 5*
Sym Last........ ........Change.......... 
Dow 9,599.75 +112.08 +1.18% 
Nasdaq 2,068.15 +20.04 +0.98% 
S&P 500 1,040.46 +15.25 +1.49% 
30-yr Bond 4.0230% +0.0120 

NYSE Volume 5,071,727,500  (prior day 6,521,788,000
Nasdaq Volume 2,212,466,750  (prior day 2,482,226,750)

Oil 71.50 -0.05 -0.07% 
Gold US$/oz 1016.75 +15.45 +1.54% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,024.33 +35.63 +0.71% 
DAX 5,508.85 +40.95 +0.75% 
CAC 40 3,675.01 +25.11 +0.69% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,674.49 -57.38 -0.59% 
Hang Seng 20,429.07 +53.58 +0.26% 
Straits Times 2,583.73 -20.80 -0.80% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks jump on service industry, bank reports

Stocks rise as service industry index signals growth for first time in a year; Dow jumps 112*

By Tim Paradis, AP Business Writer 
On Monday October 5, 2009, 5:56 pm EDT 

NEW YORK (AP) -- The first growth in the service industry in a year and upbeat comments about big banks pulled investors into the stock market after two losing weeks.

The Dow Jones industrial average rose 112 points as all major stock indicators gained 1 percent.

The Institute for Supply Management said its service index rose to 50.9 in September from 48.4 in August. Analysts polled by Thomson Reuters had expected a reading of 50, the dividing line between growth and contraction. The index hadn't grown since August of last year.

Financial and energy stocks led the gains after Goldman Sachs raised its rating on large banks and the price of oil jumped.

The advance follows the market's first back-to-back weekly drops since July, which came as reports on manufacturing and consumer sentiment fell short of expectations.

Stocks had fallen for seven of eight days, which likely brought buying interest from investors seeking bargains. The Dow lost 332 points, or 3.4 percent, in the past two weeks. Monday's advance also came in light trading volume, which can skew price moves. Bigger tests of the market will arrive in the coming weeks when companies begin turning in earnings reports for the July-September quarter.

Thomas J. Lee, chief U.S. equity strategist at J.P. Morgan, said the improvement in the service index is encouraging because it could help boost confidence in the economy, a key element of a sustainable recovery.

"We really have to see the animal spirits kick in in the next six months, which is confidence in both businesses and consumers," he said.

The Dow rose 112.08, or 1.2 percent, to 9,599.75, its first gain in four days. The broader Standard & Poor's 500 index rose 15.25, or 1.5 percent, to 1,040.46, and the Nasdaq composite index rose 20.04, or 1 percent, to 2,068.15.

Lee said the market's two-week drop is a healthy sign of investor caution after stocks rose for seven months off of 12-year lows in March. He also said the mixed economic readings aren't surprising and don't mean the rally is over.

"We should be kind of looking for data to come in a little choppy because no recovery is going to be linear and smooth," he said.

A disappointing employment report Friday, which followed a string of other lackluster economic data, shook investors' confidence. The Labor Department said employers cut more jobs in September than in August, while economists had expected that cuts would decrease.

Investors could begin to get a better sense of the economy Wednesday when quarterly earnings reports start arriving. Aluminum maker and Dow component Alcoa Inc. kicks off earnings season, and investors will be looking for signs of growth to ease recent concerns about the strength of a rebound.

Adam Gould, senior portfolio manager at Direxion Funds in New York, said investors don't want to be out of the market if corporate earnings reports come in better than forecast for the third quarter as they did for the first and second quarters.

Stocks fell 7 percent from mid-June to mid-July before companies posted earnings that topped analysts' forecasts. By Friday, the Dow had slid 3.5 percent from its recent closing high on Sept. 22.

Gould said stocks are unlikely to post massive gains before the end of the year because professionals who have ridden the surge since March 9 don't expect the gains can continue at such a pace. Others who missed the rally are going to be hesitant to get in now.

"I see people being relatively conservative between now and the end of the year. If you missed the rally you missed it," Gould said. "It's hard to buy stocks 45 percent off the lows."

Companies were able to mostly beat modest profit expectations in the second quarter primarily because of cost-cutting, including job cuts. Now traders will be looking for signs of growth in revenue to sustain improved earnings.

Financial stocks jumped after the Goldman upgrade. Wells Fargo & Co. rose $1.81, or 6.9 percent, to $28.09, while Bank of America Corp. rose 62 cents, or 3.8 percent, to $16.96.

Crude oil rose 46 cents to settle at $70.41 a barrel on the New York Mercantile Exchange as the dollar weakened. Commodities are priced in dollars, and a weak greenback makes them more appealing to foreign buyers. That lifted shares of energy and materials companies.

Bond prices mostly fell, pushing up yields. The yield on the benchmark 10-year Treasury note rose to 3.23 percent from 3.22 percent late Friday.

The dollar fell against most other currencies, while gold prices rose.

Five stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 4.4 billion shares compared with 5.6 billion traded Friday.

The Russell 2000 index of smaller companies rose 10.91, or 1.9 percent, to 591.11.

Britain's FTSE 100 rose 0.7 percent, Germany's DAX index gained 0.8 percent, and France's CAC-40 advanced 0.7 percent. Japan's Nikkei stock average fell 0.6 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Despite a downward drift in afternoon action, stocks were able to march considerably higher in broad-based fashion for the second straight session as overseas gains and a weaker U.S. dollar kept buyers in the market. 

The major indices started markedly higher as the previous session's gains were extended amid news that by Australia's Reserve Bank hiked its key lending rate by 25 basis points to 3.25%. Though the rate hike may strike some as an unlikely impetus for higher stock prices, global participants were encouraged by the symbolism of the act, since it suggests that the global economy has strengthened. That consideration helped drive the Dow Jones World Index to a 1.9% gain, which is its best percentage gain in two months. 

The stock market got a big lift from a faraway place: Australia.

The Dow Jones industrial average jumped 132 points and all major indicators rose more than 1 percent as the Australian central bank's decision to raise interest rates boosted investor optimism about the global economy. The Dow is up 244 points in two days, its best back-to-back gain since mid-July.

Investors' show of confidence ahead of a flood of corporate earnings reports came as Australia became the first major country to raise interest rates since the onset of the financial crisis last year. The move signals that policymakers see the country's economy as strong enough to withstand higher borrowing costs. That touched off hopes that other economies may also be growing.

*The NYSE DOW closed HIGHER +131.50 points +1.37% on Tuesday October 6*
Sym Last........ ........Change.......... 
Dow 9,731.25 +131.50 +1.37% 
Nasdaq 2,103.57 +35.42 +1.71% 
S&P 500 1,054.72 +14.26 +1.37% 
30-yr Bond 4.0580% +0.0350 

NYSE Volume 5,919,316,500  (prior day 5,071,727,500)
Nasdaq Volume 2,430,729,750  (prior day 2,212,466,750)

Oil 71.50 -0.05 -0.07% 
Gold 1041.90 +25.20 +2.48%

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,137.98 +113.65 +2.26% 
DAX 5,657.64 +148.79 +2.70% 
CAC 40 3,770.21 +95.20 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,691.80 +17.31 +0.18% 
Hang Seng 20,811.53 +382.46 +1.87% 
Straits Times 2,612.37 +28.64 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks surge as investors bet on corporate profits

Dow jumps 132 points as hopes grow for strengthening in corporate profits, global economy*
By Tim Paradis, AP Business Writer 
On Tuesday October 6, 2009, 5:41 pm EDT 

NEW YORK (AP) -- The stock market got a big lift from a faraway place: Australia.

The Dow Jones industrial average jumped 132 points and all major indicators rose more than 1 percent as the Australian central bank's decision to raise interest rates boosted investor optimism about the global economy. The Dow is up 244 points in two days, its best back-to-back gain since mid-July.

Investors' show of confidence ahead of a flood of corporate earnings reports came as Australia became the first major country to raise interest rates since the onset of the financial crisis last year. The move signals that policymakers see the country's economy as strong enough to withstand higher borrowing costs. That touched off hopes that other economies may also be growing.

Australia's decision also dented demand for the U.S. dollar, which, in turn, raised commodities prices. U.S. energy and materials stocks jumped as oil rose and gold reached a record high.

Investors' upbeat tone investors is a departure from the market's move the past two weeks, when disappointing reports on unemployment, manufacturing and consumer sentiment gave stocks their first consecutive weekly drops since July. Investors seem inclined right now to grab hold of any good news they hear, and their shifting sentiment has led to some mild volatility including the surge upward this week.

The market's climb also came as some investors ratchet up expectations for companies' earnings for the July-September quarter. Yum Brands Inc., parent of the Taco Bell, KFC and Pizza Hut chains, reported results after the closing bell that topped expectations and raised its profit forecast for the year. Aluminum producer Alcoa Inc. reports on Wednesday.

Phil Orlando, chief equity market strategist at Federated Investors in New York, said investors are raising their expectations for earnings because few companies have issued profit warnings since the quarter's end.

"We've gone through confessional season and we haven't had a peep from anyone," he said, referring to companies that would try to prepare investors for disappointment. "It's just crickets and tumbleweed throughout Wall Street because companies are going to beat."

The Dow rose 131.50, or 1.4 percent, to 9,731.25 after rising 112 Monday. It was the Dow's biggest gain since Aug. 21 and leaves the index fewer than 300 points from the psychological benchmark of 10,000. The Dow's two-day rise is its biggest since July 16.

It was only the fifth time this year that all 30 stocks that comprise the Dow closed higher.

The Standard & Poor's 500 index rose 14.26, or 1.4 percent, to 1,054.72, while the Nasdaq composite index rose 35.42, or 1.7 percent, to 2,103.57.

Stocks jumped Monday on news that the U.S. service industry grew for the first time in a year. Upbeat comments about the nation's largest banks also drew buyers, as did a drop in the dollar.

Bond prices fell, sending the yield on the benchmark 10-year Treasury note up to 3.26 percent from 3.23 percent late Monday.

Crude oil rose 47 cents to settle at $70.88 per barrel on the New York Mercantile Exchange.

Gold rose as high as $1,045 an ounce on the Nymex before closing at $1,039.70, its highest finish since March 2008. Taking inflation into account, the high was $2,200 an ounce back in January 1980, according to the World Gold Council, an industry trade group.

Stock investors cheered the drop in the dollar because it boosts corporate profits by making U.S. goods cheaper to overseas buyers. Companies can also get a bump in profits when they convert sales made in foreign currencies to dollars. The dollar has been falling for months so that added to expectations for corporate profit reports.

"The reality is that a weak dollar right now is beneficial to us because it's driving export volumes to foreign economies that are doing better and it's going to result in currency gains," Orlando said.

The market lost about 6 percent in recent weeks, following a huge rally of about 60 percent since March, as investors questioned whether they had been too quick to place bets on a rebound in the economy. The same concerns emerged from mid-June to mid-July, when stocks fell 7 percent before companies turned in surprisingly strong profits.

Metals and mining and energy stocks rose Tuesday as commodities surged.

Alcoa rose 47 cents, or 3.5 percent, to $13.89. Barrick Gold Corp. rose $1.93, or 5.2 percent, to $38.84, while Newmont Mining Corp. jumped $3.01, or 7 percent, to $46.21. Oilfield services company Schlumberger Ltd. rose $1.28, or 2.2 percent, to $59.24.

David Kelly, chief market strategist at J.P. Morgan Funds, said the stock market has room to advance despite its already huge climb since March. Stocks are still down from their peak two years ago.

Kelly said the long-term move in the stock market should be upward as the economy improves and problems like unemployment slowly get better, a process that he expects to take years.

"As the economy gradually pulls itself back together and we march back to full employment the stock market will reflect that," Kelly said.

Four stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.2 billion shares compared with 1.1 billion traded Monday.

The Russell 2000 index of smaller companies rose 10.87, or 1.8 percent, to 601.98.

Britain's FTSE 100 gained 2.3 percent, Germany's DAX index rose 2.7 percent, and France's CAC-40 gained 2.6 percent. Japan's Nikkei stock average rose 0.2 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Leadership from the financial sector helped stocks log their third straight gain after they spent most of the session chopping along in negative territory amid a moderately stronger U.S. dollar. Though the greenback's gains weighed on the stock market and many commodities, it didn't deter gold from extending recent gains. 

Stocks spent most of the session trading listlessly as the Dollar Index recovered from losses in the past three sessions to advance 0.2% Wednesday. However, bank stocks emerged with strength after struggling to find direction in the early going. With banks finishing strong, the KBW Bank Index netted a 1.2% gain and the broader financial sector settled at session highs with a 1.0% gain.

After two big days, it was time for the stock market to take a break.

Investors waiting for corporate earnings reports to start rolling in made only modest moves Wednesday after stocks posted their best two-day gain since mid-July. The Dow Jones industrial average slipped 6 points, while broader indexes edged higher.

With little economic news to direct trading, investors were waiting for earnings reports from the July-September quarter for signals about the economy.

*The NYSE DOW closed LOWER -5.67 points -0.06% on Wednesday October 7*
Sym Last........ ........Change.......... 
Dow 9,725.58 -5.67 -0.06% 
Nasdaq 2,110.33 +6.76 +0.32% 
S&P 500 1,057.58 +2.86 +0.27% 
30-yr Bond 3.9920% -0.0660 

NYSE Volume 4,890,557,000  (prior day 5,919,316,500)
Nasdaq Volume 2,239,362,000  (prior day 2,430,729,750)

Oil 71.50 -0.05 -0.07% 
Gold US$/oz 1043.70 +2.85 +0.27% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,108.90 -29.08 -0.57% 
DAX 5,640.75 -16.89 -0.30% 
CAC 40 3,756.41 -13.80 -0.37% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,799.60 +107.80 +1.11% 
Hang Seng 21,241.59 +430.06 +2.07% 
Straits Times 2,634.63 +22.74 +0.87% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks end mixed after rally as earnings loom

Stocks finish mixed after 2 days of gains ahead of Alcoa earnings; Dollar rebounds*

By Sara Lepro and Tim Paradis, AP Business Writers 
On 5:55 pm EDT, Wednesday October 7, 2009 

NEW YORK (AP) -- After two big days, it was time for the stock market to take a break.

Investors waiting for corporate earnings reports to start rolling in made only modest moves Wednesday after stocks posted their best two-day gain since mid-July. The Dow Jones industrial average slipped 6 points, while broader indexes edged higher.

With little economic news to direct trading, investors were waiting for earnings reports from the July-September quarter for signals about the economy.

Aluminum maker Alcoa Inc. was the first of the 30 companies that make up the Dow Jones industrials to release its numbers, but the report didn't arrive until after the closing bell. Still, investors were happy with the news that the company was profitable again after three losing quarters, and that revenue and earnings topped expectations. Alcoa stock rose in extended-hours trading.

Investors spent Wednesday not wanting to place big bets amid concerns that revenue and earnings won't justify the enormous gains in stocks in the past seven months. The Standard & Poor's index, the basis for many mutual funds, is up 56.3 percent since hitting a 12-year low in March.

"Investors are holding tight here," said Eric Ross, director of research at Canaccord Adams. "There are people on both sides of the fence. A lot of people think this market is going to keep running and running and then others that are very nervous."

The Dow fell 5.67, or 0.1 percent, to 9,725.58. The S&P 500 index rose 2.86, or 0.3 percent, to 1,057.58, while the Nasdaq composite index rose 6.76, or 0.3 percent, to 2,110.33.

A falling dollar and rising commodity prices helped push stocks higher on Tuesday, adding to the previous day's gains that were spurred by signs of growth in the service industry. The Dow rose 244 points in two days, its best back-to-back advance since July 15-16.

Even with the recent gains, stocks are still down during the past two weeks as labor and manufacturing reports have fallen short of expectations. Analysts expect the earnings reports and forecasts that arrive in the coming weeks to have a big influence on the market's direction through the end of the year.

Many companies beat modest earnings expectations in the second quarter by cutting costs. That helped fuel the market's rally through the summer. Now, investors are hoping to see stronger sales driving earnings, which would signal some steadying in consumer spending. Many analysts remain skeptical.

"The consumer is just really damaged," said Len Blum, a managing partner at Westwood Capital LLC. "Every time we see a blip, it's not sustainable."

Alcoa's shares rose 31 cents, or 2.2 percent, to $14.20 before the company reported results, and it climbed to $15 in after-hours trading.

In other trading, shares of Verisk Analytics Inc. shot up 23.7 percent in their market debut, rising $5.22 to $27.22. The insurance data specialist raised $1.9 billion in one of the year's largest initial public offerings.

Gold ended higher after hitting a new high of $1,049.70 an ounce. Prices rose $4.70 to $1,044.40.

Oil fell $1.31 to settle at $69.57 per barrel on the New York Mercantile Exchange.

Investors have been tracking the dollar, which has fallen this year amid rock-bottom interest rates and massive government spending. A weak dollar is good for profits of companies with a strong global operations because it encourages overseas customers to buy U.S. goods and services. Over the long term, however, it could trigger inflation.

Bond prices rose after an auction of 10-year notes drew strong demand. That pushed down the yield on the 10-year Treasury note to 3.19 percent from 3.26 percent late Tuesday.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where consolidated volume came to 4.3 billion shares compared with 5.1 billion Tuesday.

The Russell 2000 index of smaller companies rose 0.10, or less than 0.1 percent, to 602.08.

Britain's FTSE 100 fell 0.6 percent, Germany's DAX index slipped 0.3 percent, and France's CAC-40 lost 0.4 percent. Japan's Nikkei stock average rose 1.1 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The broader equity market logged its fourth straight gain amid encouraging corporate headlines, continued weakness in the U.S. dollar, and a better-than-feared weekly jobless claims report. However, technical resistance capped the move by stocks. 

Dow component Alcoa (AA 14.35, +0.15) kicked off earnings season last evening in positive fashion. The company brought in an adjusted $0.04 per share, which was considerably better than the loss of $0.09 per share that had been widely expected. Alcoa went on to issue a relatively upbeat outlook. Shares of AA started the session at fresh highs for 2009, but the stock drifted off of its opening levels for the rest of the session.

The stock market resumed its rally after getting encouraging readings on two of the best gauges of the economy's health: consumer spending and corporate profits.

The Dow Jones industrial average rose 61 points Thursday after falling modestly the day before. The gains added to the market's already steep climb for the week. Improving signals about the economy pushed the Dow up 244 points Monday and Tuesday, its best back-to-back advance since July.

Traders pounced on news that retailers last month had their first sales gains in more than a year. A closely watched gauge of sales at major retailers rose 0.1 percent for September. While still tepid, it was the first monthly rise in the International Council of Shopping Centers-Goldman Sachs tally since July 2008.

*The NYSE DOW closed HIGHER +61.29 points +0.63% on Thursday October 8*
Sym Last........ ........Change.......... 
Dow 9,786.87 +61.29 +0.63% 
Nasdaq 2,123.93 +13.60 +0.64% 
S&P 500 1,065.48 +7.90 +0.75% 
30-yr Bond 4.0940% +0.1020 

NYSE Volume 5,833,707,500  (prior day 4,890,557,000)
Nasdaq Volume 2,425,962,750  (prior day  2,239,362,000)

Oil 71.50 -0.05 -0.07% 
Gold US$/oz 1054.00 +10.30 +0.99% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,154.64 +45.74 +0.90% 
DAX 5,716.54 +75.79 +1.34% 
CAC 40 3,806.81 +50.40 +1.34% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,832.47 +32.87 +0.34% 
Hang Seng 21,492.90 +251.31 +1.18% 
Straits Times 2,646.36 +11.73 +0.45% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks climb after retail sales, Alcoa earnings

Stocks resume climb after upbeat retail sales and surprising profit from Alcoa; Dow gains 61*

By Sara Lepro and Tim Paradis, AP Business Writers 
On 6:11 pm EDT, Thursday October 8, 2009 

NEW YORK (AP) -- The stock market resumed its rally after getting encouraging readings on two of the best gauges of the economy's health: consumer spending and corporate profits.

The Dow Jones industrial average rose 61 points Thursday after falling modestly the day before. The gains added to the market's already steep climb for the week. Improving signals about the economy pushed the Dow up 244 points Monday and Tuesday, its best back-to-back advance since July.

Traders pounced on news that retailers last month had their first sales gains in more than a year. A closely watched gauge of sales at major retailers rose 0.1 percent for September. While still tepid, it was the first monthly rise in the International Council of Shopping Centers-Goldman Sachs tally since July 2008.

The growing hopes for consumer spending, which is crucial for an economic recovery, followed late Wednesday's good news from Alcoa Inc. The company surprised investors with its first profit in nine months, which the aluminum company attributed to cost-cutting and rising sales to automakers.

Alcoa is one of the first major companies to post its results. Its report and upbeat forecast for aluminum demand had many traders betting that companies' results for the July-September quarter, to be released in the coming weeks, will be better than expected.

"Alcoa set the tone and backed it up," Michael Feser, president of Zecco Trading said.

A slumping dollar helped pump up commodities prices, which gave a lift to energy and materials stocks.

Meanwhile, a better reading on the job market also fed investors' optimism. The Labor Department reported that new claims for jobless benefits fell to 521,000 last week from 554,000 the previous week. Claims came to the lowest level since early January.

The Dow rose 61.29, or 0.6 percent, to 9,786.87. The market ended off its best levels after demand at a government auction of 30-year bonds fell short of expectations. The Dow was up 111 points at its high.

The Standard & Poor's 500 index rose 7.90, or 0.8 percent, to 1,065.48, while the Nasdaq composite index rose 13.60, or 0.6 percent, to 2,123.93.

About three stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 5.2 billion shares, compared with 5.1 billion Wednesday.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.25 percent from 3.19 percent late Wednesday.

The week's advance has put the market's seven-month rally back on track, sending the major indexes toward their best weekly gain since early July after two down weeks. Investors had become discouraged in recent weeks by a stream of disappointing economic data, as improvements in areas like manufacturing slowed.

The market got a boost this week from signs of growth in service industries and a surprise interest rate hike in Australia that was seen as a vote of confidence in the global economy.

"The way we will perform is two steps forward, one step back," said Michael Strauss, chief economist at Commonfund in Wilton, Conn. "But at the end of the day we are moving to higher prices."

Still, much depends on how the rest of earnings season goes. Investors question whether the market's surge can continue if earnings results don't back up the market's perception that the economy is improving. The S&P 500 index is up 57.5 percent since hitting a 12-year low in March.

Robert MacIntosh, chief economist at Eaton Vance Management, said Alcoa's numbers were good but that it's still early in earnings seasons. Financial companies, one potential trouble spot, report next week.

"I wouldn't say we're in the clear," he said.

Companies mostly beat modest earnings expectations during the second quarter because of cost-cutting measures, and investors now want to see actual revenue growth as a driver of profits.

Alcoa rose 15 cents to $14.35.

Commodities rallied as the dollar fell further against other currencies.

Gold hit another new record, rising as high as $1,062.70 an ounce. Oil prices rallied $2.12 to settle at $71.69 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 5.67, or 0.9 percent, to 607.75.

Overseas, Britain's FTSE 100 gained 0.9 percent, while Germany's DAX index and France's CAC-40 each jumped 1.3 percent. Japan's Nikkei stock average rose 0.3 percent.


----------



## bigdog

*NYSE Dow Jones finished today at:*
Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 377.27, or 4 percent, at 9,864.94. The Standard & Poor's 500 index rose 46.28, or 4.5 percent, to 1,071.49. The Nasdaq composite index rose 91.17, or 4.5 percent, to 2,139.28.

The Dow rose 78.07, or 0.8 percent, to 9,864.94, its highest close since Oct. 6 last year.

Some late buying helped the stock market finish the session at its high point and secure its fifth straight gain, a feat that hasn't happened in one month. What's more, stocks logged a weekly gain of 4.5%, which is the best weekly performance since July. 

This session's advance was solid and broad-based as every major sector, except telecom (-0.8%), finished higher. Tech (+1.1%) and health care (+1.0) were the best performing sectors. 

The stock market is keeping its momentum going, giving shares their best week in more than two months.

Moderate gains on Friday led by health care and utility companies pushed stocks to a 4 percent gain for the week, their best performance since July. The Dow Jones industrial average gained 78 points, reaching its highest level in a year.

Bond prices tumbled, extending the previous day's losses, as the Treasury market struggled to absorb $71 billion of new supply auctioned off this week in the government's ongoing efforts to fund its stimulus programs.

*The NYSE DOW closed HIGHER +78.07 points +0.80% on Friday October 9*
Sym Last........ ........Change.......... 
Dow 9,864.94 +78.07 +0.80% 
Nasdaq 2,139.28 +15.35 +0.72% 
S&P 500 1,071.49 +6.01 +0.56% 
30-yr Bond 4.2270% +0.1330 

NYSE Volume 4,333,068,000  (prior day 5,833,707,500)
Nasdaq Volume 1,963,729,380  (prior day 2,425,962,750)

Oil 71.50 -0.05 -0.07% 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,161.87 +7.23 +0.14% 
DAX 5,711.88 -4.66 -0.08% 
CAC 40 3,799.61 -7.20 -0.19% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,016.39 +183.92 +1.87% 
Hang Seng 21,499.44 +6.54 +0.03% 
Straits Times 2,652.51 +1.56 +0.06% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks post their best week since July

Stocks rise to cap best weekly gain since July; Dollar rebound keeps advance in check*

By Sara Lepro, AP Business Writer 
On 5:54 pm EDT, Friday October 9, 2009 

NEW YORK (AP) -- The stock market is keeping its momentum going, giving shares their best week in more than two months.

Moderate gains on Friday led by health care and utility companies pushed stocks to a 4 percent gain for the week, their best performance since July. The Dow Jones industrial average gained 78 points, reaching its highest level in a year.

Bond prices tumbled, extending the previous day's losses, as the Treasury market struggled to absorb $71 billion of new supply auctioned off this week in the government's ongoing efforts to fund its stimulus programs.

The market's performance was a fitting way to commemorate the second anniversary of the record highs set by the Dow and the Standard & Poor's 500 index, which closed at 14,164.53 and 1,565.15 respectively. It was after reaching those milestones that the market began what turned into a cataclysmic slide that ended March 9.

This week investors cheered more signs that the economy is healing, including growth in service industries, a surprise profit from aluminum maker Alcoa Inc. and the first gain in retail sales in over a year. That helped put a seven-month rally back on track after two down weeks driven by disappointing economic data.

The dollar recovered some of its recent losses against other currencies Friday after Federal Reserve Chairman Ben Bernanke reassured markets that the Fed will wind down its extraordinary stimulus measures when the time is right. Some investors interpreted Bernanke's comments as a sign the Fed might raise interest rates sooner than expected.

The dollar is a double-edged sword for the stock market. The dollar would benefit from higher interest rates but if the Fed tightens credit too soon it could choke off an economic recovery. On the other hand a continued fall in the dollar, which is more likely with lower interest rates, could trigger inflation.

"What's particularly concerning for investors is if there is a sharp, sustained move (by the dollar) in one direction or another," said Jordan Smyth, managing director at Edgemoor Investment Advisors.

The moderate rise in stocks Friday comes two years to the day after the market hit its peak. The Dow is still down 30.4 percent from its high on Oct. 9, 2007, while the S&P 500 index is down 31.5 percent.

The Dow rose 78.07, or 0.8 percent, to 9,864.94, its highest close since Oct. 6 last year.

The S&P 500 index rose 6.01, or 0.6 percent, to 1,071.49, while the Nasdaq composite index rose 15.35, or 0.7 percent, to 2,139.28.

For the week, the Dow rose 4 percent, its biggest gain since the week ended July 24. The S&P 500 index rose 4.5 percent, its best performance since the week ended July 17. The Nasdaq added 4.5 percent.

Bond prices fell sharply as selling that was sparked by a weak auction of 30-year bonds on Thursday continued. The 30-year bond fell more than 2 points -- its biggest one-day drop in nearly three months -- sending its yield up to 4.22 percent from 4.09 percent late Thursday. The yield on the benchmark 10-year Treasury note rose to 3.38 percent from 3.25 percent.

Despite the big gain in stocks this week, analysts warn that trading could be bumpy in the coming weeks as investors sift through companies' quarterly earnings reports. Major financial firms will report results next week, including JPMorgan Chase & Co., Citigroup Inc. and Bank of America Corp. Better-than-expected earnings from banks this year have been a big force behind the market's rally.

Investors, having sent the S&P 500 index up 58.4 percent since March, are looking for reassurance from companies that the economy is growing.

"The market has factored in good earnings and the market has actually discounted good guidance as well," said Jim Herrick, director of equity trading, Baird & Co. "So if we don't see that, the market will retrace."

Outside of earnings reports, the dollar will remain a focus. The slide in the dollar has been a boon to both stocks and commodities this year. A weak dollar makes commodities more attractive to foreign investors. Likewise, it helps boost corporate profits at companies that have a strong presence overseas by making prices of their exported goods cheaper for buyers in other countries.

Oil prices rose 8 cents to settle at $71.77 a barrel on the New York Mercantile Exchange. Gold prices slipped after touching a fresh high of $1,062.70 on Thursday.

Three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to a relatively low 990 million shares, compared with 1.3 billion Thursday.

In other trading, the Russell 2000 index of smaller companies rose 7.17, or 1.2 percent, to 614.92.

Overseas, Britain's FTSE 100 rose 0.1 percent, Germany's DAX index dipped 0.1 percent and France's CAC-40 fell 0.2 percent. Japan's Nikkei stock average rose 1.9 percent.

The Dow Jones industrial average closed the week up 377.27, or 4 percent, at 9,864.94. The Standard & Poor's 500 index rose 46.28, or 4.5 percent, to 1,071.49. The Nasdaq composite index rose 91.17, or 4.5 percent, to 2,139.28.

The Russell 2000 index, which tracks the performance of small company stocks, rose 34.72, or 6 percent, for the week to 614.92.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 10,963.48, up 493.93, or 4.7 percent.

129


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

A breakdown in technical support caused stocks to rollover midsession, but the S&P 500 successfully fended off sellers to log its sixth straight gain, which is the best streak this year for the stock market. 

Strong gains by European markets and renewed weakness in the U.S. dollar helped stocks start the session on strong footing and the S&P 500 climb above its 2009 closing high, which had represented significant resistance late last week. 

Investors waiting for earnings reports to flow in traded cautiously Monday, giving up early gains and leaving the market narrowly mixed. The Dow Jones industrials reached a new 2009 trading high, edging closer to 10,000.

Volume was light because of the Columbus Day holiday. Bond markets were closed and there were no economic reports.

A weaker dollar and a spike in oil prices above $73 drove energy and materials prices higher, but weakness in technology and industrial shares held the market back. Stocks got an early boost from a better-than-expected profit report from Dutch company Royal Philips Electronics. That sent Britain's leading stock indicator to its highest level in a year.

*The NYSE DOW closed HIGHER +20.86 points +0.21% on Monday October 12*
Sym Last........ ........Change.......... 
Dow 9,885.80 +20.86 +0.21% 
Nasdaq 2,139.14 -0.14 -0.01% 
S&P 500 1,076.19 +4.70 +0.44% 
30-yr Bond 4.2280% +0.0010 

NYSE Volume 4,179,066,500  (prior day 4,333,068,000)
Nasdaq Volume 1,793,127,500  (prior day 1,963,729,380)

Oil 71.50 -0.05 -0.07% 
Gold US$/oz 1055.25 +7.00 +0.67 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,210.17 +55.53 +1.08% 
DAX 5,783.23 +71.35 +1.25% 
CAC 40 3,845.80 +46.19 +1.22% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,016.39 closed Monday for holiday
Hang Seng 21,299.35 -200.09 -0.93% 
Straits Times 2,680.47 +27.96 +1.05% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks pare gains; Higher crude boosts energy

Stocks give up advance, trade mixed as sluggish tech shares balance out gains in energy stocks*

By Sara Lepro, AP Business Writer 
On 5:40 pm EDT, Monday October 12, 2009 

NEW YORK (AP) -- Investors waiting for earnings reports to flow in traded cautiously Monday, giving up early gains and leaving the market narrowly mixed. The Dow Jones industrials reached a new 2009 trading high, edging closer to 10,000.

Volume was light because of the Columbus Day holiday. Bond markets were closed and there were no economic reports.

A weaker dollar and a spike in oil prices above $73 drove energy and materials prices higher, but weakness in technology and industrial shares held the market back. Stocks got an early boost from a better-than-expected profit report from Dutch company Royal Philips Electronics. That sent Britain's leading stock indicator to its highest level in a year.

Investors looked ahead to the flurry of earnings due this week from key companies including Intel Corp., Johnson & Johnson, IBM Corp. and General Electric Co. Top U.S. banks, including JPMorgan Chase & Co., Goldman Sachs Group Inc., Citigroup Inc. and Bank of America Corp. will issue reports as well.

The Dow traded as high as 9,931, just 69 points away from 10,000, a level not seen in a year. The index rose for the third day in a row and has gained in five out of the last six sessions.

The Dow closed up 20.86, or 0.2 percent, at 9,885.80. The Standard & Poor's 500 index rose 4.70, or 0.4 percent, to 1,076.19. Both indexes had their highest close in a year.

The Nasdaq composite index fell 0.14, or 0.01 percent, to 2,139.14.

Advancing stocks narrowly outpaced declining ones on the New York Stock Exchange, where consolidated volume was very low at 3.76 billion shares versus 3.85 billion on Friday.

Analysts said traders are generally optimistic about the upcoming third-quarter earnings reports, especially after aluminum maker Alcoa Inc. -- the first of the 30 companies that make up the Dow to report earnings -- said last week that it turned a profit for the first time in nine months.

"There is some key stuff coming and the market has anticipated that it's going to be good," said John Wilson, chief technical strategist at Morgan Keegan.

The dollar mostly fell against other major currencies, helping to drive commodity prices higher. A weak dollar makes commodities more attractive to foreign investors. Gold rose $8.90 to $1,057.50 an ounce, while oil prices rose $1.50 to settle at $73.27 a barrel on the New York Mercantile Exchange.

The dollar has fallen steadily over the past few months as investors, more upbeat on the economy take money out of traditional safe-haven assets and put it to work in stocks. The ICE Futures U.S. dollar index, which tracks the dollar against other major currencies, is down about 14 percent since early March. The S&P 500 index is up 59 percent since then.

Better-than-expected first-quarter results from banks set off the stock market's rally seven months ago, and even stronger second-quarter results helped fortify the rally in July.

Analysts say companies' earnings reports will determine where the market heads next. If results exceed expectations and show companies are making money through sales and not just cost cutting, stocks could continue their push higher.

"There's still room here for equities to move up on the back of better-than-expected results," said Craig Peckham, an analyst at Jefferies & Co. "I don't think that positive surprises are fully priced in."

Banks were among the big gainers Monday as investors awaited their earnings. Wells Fargo & Co. rose $1.07, or 3.7 percent, to $30.28, while Citigroup Inc. was up 14 cents, or 3 percent, at $4.77.

In other trading, the Russell 2000 index of smaller companies fell 1.11 to 613.81.

Britain's FTSE 100 rose 0.9 percent, Germany's DAX index jumped 1.3 percent, and France's CAC-40 gained 1.2 percent. In Asia, Hong Kong's Hang Seng index finished down 0.9 percent. Japan's market was closed for a holiday.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Despite a weaker dollar and a strong third quarter report from pharmaceutical giant Johnson & Johnson, the S&P 500 saw its six-session streak of gains come to an end Tuesday. 

A weaker greenback has been a strong underpinning of the stock market's recent gains, but its affect on stocks this session was mitigated by caution among participants ahead of a flurry of upcoming earnings announcements. The Dollar Index returned to 52-week lows early this session, but participants paid more attention to the third quarter report from Dow component Johnson & Johnson (JNJ 61.01, -1.52), which brought in better-than-expected third quarter earnings of $1.20 per share and offered an increased earnings outlook of $4.54 to $4.59 per share for fiscal 2009. Those accomplishments were tainted by a softer top line, however. Johnson & Johnson's report came as a reminder that earnings for the latest quarter could very likely be driven by cost cutting rather than resurgent demand. 

Investors grew cautious Tuesday after quarterly sales at Johnson & Johnson fell short of expectations and an influential analyst stirred worries that bank shares are overheated.

Most stocks posted modest losses, a day after major indexes finished at their best levels in a year. The Dow Jones industrial average slipped 15 points, though the Nasdaq composite index edged higher.

Stocks could get a bounce Wednesday from Intel Corp., which posted earnings and sales after the closing bell that topped expectations. The leading chipmaker also said business is improving. The stock rose 4 percent in after-hours trading.

*The NYSE DOW closed LOWER -14.74 points -0.15% on Tuesday October 13*
Sym Last........ ........Change.......... 
Dow 9,871.06 -14.74 -0.15% 
Nasdaq 2,139.89 +0.75 +0.04% 
S&P 500 1,073.19 -3.00 -0.28% 
30-yr Bond 4.1530% -0.0750 

NYSE Volume 5,076,014,000  (prior day 4,179,066,500)
Nasdaq Volume 2,078,084,880  (prior day  1,793,127,500)

Oil 71.50 -0.05 -0.07% 
Gold US$/oz 1063.90 +8.65 +0.82% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,154.15 -56.02 -1.08% 
DAX 5,714.31 -68.92 -1.19% 
CAC 40 3,801.39 -44.41 -1.15% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,076.56 +60.17 +0.60% 
Hang Seng 21,467.36 +168.01 +0.79% 
Straits Times 2,672.57 -7.90 -0.29% 

http://finance.yahoo.com/news/Mixed-JJ-earnings-leave-apf-3408551480.html?x=0

*Mixed J&J earnings leave investors little to cheer

Stocks recede from highest levels of 2009 as lower sales from Johnson & Johnson disappoint*

By Sara Lepro and Tim Paradis, AP Business Writers 
On 6:02 pm EDT, Tuesday October 13, 2009 

NEW YORK (AP) -- Investors grew cautious Tuesday after quarterly sales at Johnson & Johnson fell short of expectations and an influential analyst stirred worries that bank shares are overheated.

Most stocks posted modest losses, a day after major indexes finished at their best levels in a year. The Dow Jones industrial average slipped 15 points, though the Nasdaq composite index edged higher.

Stocks could get a bounce Wednesday from Intel Corp., which posted earnings and sales after the closing bell that topped expectations. The leading chipmaker also said business is improving. The stock rose 4 percent in after-hours trading.

The market could also get a lift from comments by CSX Corp. CEO Michael J. Ward, who said the worst of the recession "is likely behind us" as the major rail operator reported quarterly results after the bell. Still looming ahead is the first earnings report from a major bank early Wednesday, JPMorgan Chase & Corp.

J&J was the first in a series of big companies to report quarterly results this week, and a 5 percent drop in sales at the maker of health care products fanned concerns that companies have had to rely on cost-cutting to boost profits, as they did in the first half of the year. Investors are worried that earnings will suffer if sales don't improve.

The market's unease intensified after banking analyst Meredith Whitney lowered her rating on Goldman Sachs Group Inc. to "neutral" from "buy." Goldman's stock had risen 34 percent since Whitney upgraded the stock to "buy" in mid-July. The bank reports results on Thursday.

Health care stocks stumbled after J&J's report and as the Senate Finance committee approved a version of the health care overhaul bill.

There were some pockets of green on trading screens. An agreement by Cisco Systems Inc., which makes computer networking gear, to buy Starent Networks Corp. for $2.9 billion lifted shares of technology companies.

The modest scale of the day's slide suggested that traders are afraid of walking away from a market that has spent little time in reverse since bouncing off 12-year lows seven months ago.

Earnings reports are likely to continue to shape the market's sentiment for the rest of this week.

"The market only makes sense at these levels if earnings can grow at a decent pace," said Jerry Webman, chief economist at OppenheimerFunds Inc. "What we're hearing now is OK, but you don't get long-term earnings growth out of cost cutting."

The Dow fell 14.74, or 0.2 percent, to 9,871.06. On Monday, it came within 69 points of the psychological barrier of 10,000, a level not seen in a year.

The Standard & Poor's 500 index fell 3.00, or 0.3 percent, to 1,073.19, its first loss after six days of gains. The Nasdaq rose 0.75, or less than 0.1 percent, to 2,139.89.

Linda Duessel, equity market strategist at Federated Investors, said stocks could drift after the strong rally. "I don't know if we have to pull back so much as take a break," she said.

Investors have sent stocks higher in recent days on hopes that third-quarter earnings reports will signal that the economy is improving.

Goldman Sachs, Citigroup Inc. and Bank of America Corp. also report this week. Goldman fell $2.92, or 1.5 percent, to $187.23 after the downgrade.

Howard Ward, portfolio manager for GAMCO Growth Fund in Rye, N.Y., said investors are likely to lock in some profits following a rally that propelled the S&P 500 index up 58.6 percent since March and that future gains will be more modest.

"The market is going to be grinding its way higher from here," he said. "The fire sale is over."

Among stocks, Johnson & Johnson fell $1.52, or 2.4 percent, to $61.01.

The ICE Futures U.S. dollar index, which measures the dollar against other major currencies, dropped to a 14-month low. Gold subsequently hit a record high $1,069.70 an ounce, while oil rose 88 cents to settle at $74.15 a barrel on the New York Mercantile Exchange.

Bond prices rose, pushing yields down, after steep losses from last week. The yield on the benchmark 10-year Treasury note fell to 3.35 percent from 3.38 percent late Friday. Bond markets were closed Monday.

Three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume came to 4.4 billion shares compared with 3.8 billion Monday, when volume was much thinner because of the Columbus Day holiday.

The Russell 2000 index of smaller companies fell 2.11, or 0.3 percent, to 611.70.

Britain's FTSE 100 fell 1.1 percent, while Germany's DAX index and France's CAC-40 each fell 1.2 percent. Japan's Nikkei stock average rose 0.6 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Strong earnings from a couple of industry bellwethers and a weaker U.S. dollar brought about a concerted buying effort that sent all three major indices to new 2009 highs. Stocks lost a bit of their upward momentum as they headed into the close, but the Dow was still able to settle above 10,000 for the first time in one year. 

Stocks traded solidly higher in broad-based fashion for the entire session. Their advance came on the heels of better-than-expected third quarter earnings from chipmaker Intel (INTC 20.83, +0.34) and diversified financial services outfit JPMorgan Chase (JPM 47.16, +1.50). For its part, Intel brought in $0.33 per share and also issued upside revenue guidance. JPMorgan brought in $0.82 per share for its latest quarter, even though it added $2.0 billion to consumer credit reserves, and said during its conference call that it hopes to raise its dividend back to $0.75 per share in the first half of 2010.

When the Dow Jones industrial average first passed 10,000, traders tossed commemorative caps and uncorked champagne. This time around, the feeling was more like relief.

The best-known barometer of the stock market entered five-figure territory again Wednesday, the most visible sign yet that investors believe the economy is clawing its way back from the worst downturn since the Depression.

The milestone caps a stunning 53 percent comeback for the Dow since early March, when stocks were at their lowest levels in more than a decade.

*The NYSE DOW closed HIGHER +144.80 points +1.47% on Wednesday October 14*
Sym Last........ ........Change.......... 
Dow 10,015.86 +144.80 +1.47% 
Nasdaq 2,172.23 +32.34 +1.51% 
S&P 500 1,092.02 +18.83 +1.75% 
30-yr Bond 4.2750% +0.1220 

NYSE Volume 6,248,702,000  (prior day 5,076,014,000)
Nasdaq Volume 2,383,078,250  (prior day 2,078,084,880)

Oil 71.50 -0.05 -0.07% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,256.10 +101.95 +1.98% 
DAX 5,854.14 +139.83 +2.45% 
CAC 40 3,882.67 +81.28 +2.14% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225		10,060.21	-16.35 	-0.16%
Hang Seng		21,886.48	 +419.12 	+1.95%
Straits Times 2,708.48 +40.08 +1.50% 

http://finance.yahoo.com/news/Dow-c...2.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Dow closes above 10,000 for 1st time in a year

DJ comeback: Stock market's best-known barometer closes above 10,000 for 1st time in a year*

By Tim Paradis, AP Business Writer 
On 6:24 pm EDT, Wednesday October 14, 2009 

NEW YORK (AP) -- When the Dow Jones industrial average first passed 10,000, traders tossed commemorative caps and uncorked champagne. This time around, the feeling was more like relief.

The best-known barometer of the stock market entered five-figure territory again Wednesday, the most visible sign yet that investors believe the economy is clawing its way back from the worst downturn since the Depression.

The milestone caps a stunning 53 percent comeback for the Dow since early March, when stocks were at their lowest levels in more than a decade.

"It's almost like an announcement that the bear market is over," said Arthur Hogan, chief market analyst at Jefferies & Co. in Boston. "That is an eye-opener -- 'Hey, you know what, things must be getting better because the Dow is over 10,000.'"

Cheers went up briefly when the Dow eclipsed the milestone in the early afternoon, during a daylong rally driven by encouraging earnings reports from Intel Corp. and JPMorgan Chase & Co. The average closed at 10,015.86, up 144.80 points.

It was the first time the Dow had touched 10,000 since October 2008, that time on the way down.

"I think there were times when we were in the deep part of the trough there back in the springtime when it felt like we'd never get back to this level," said Bernie McSherry, senior vice president of strategic initiatives at Cuttone & Co.

Ethan Harris, head of North America economics at Bank of America Merrill Lynch, described it as a "relief rally that the world is not coming to an end."

The mood was far from the euphoria of March 1999, when the Dow surpassed 10,000 for the first time. The Internet then was driving extraordinary gains in productivity, and serious people debated whether there was such a thing as a boom without end.

"If this is a bubble," The Wall Street Journal marveled on its front page, "it sure is hard to pop."

It did pop, of course. And then came the lost decade.

The Dow peaked at 14,164.53 in October 2007, then lost more than half its value after the financial meltdown last fall. At its low point, the average stood at 6,547.05. The breathtaking rally since then brings stocks to roughly break-even for the past 10 years.

On Wednesday, the Dow rose 144.80, or 1.5 percent, to 10,015.86, its biggest gain since Aug. 21 and highest close since Oct. 3 last year.

Broader indexes also climbed to 2009 highs. The Standard & Poor's 500 index rose 18.83, or 1.8 percent, to 1,092.02. The index, the basis of many mutual funds, is up 61.4 percent from a 12-year low in March.

The Nasdaq composite index rose 32.34, or 1.5 percent, to 2,172.23. It's up 71.2 percent since March.

So where does the market go from here?

Some market watchers see 10,000 as an illusion because there are still lingering threats to an economic recovery -- rising unemployment, weak consumer spending and a battered housing market.

The investors who have driven stocks higher since March are the pros: hedge funds and institutions whose furious selling hastened the collapse of the market in the first place.

And red flags are showing up in the technical charts that professional investors use as they make their trading decisions. The Dow sits about 18 percent above its average of the past 200 days.

"The market by all technical indicators is completely overbought, just like back in March it was completely oversold," said Rich Hughes, co-president of Portfolio Management Consultants in Los Angeles.

On the other hand, Wall Street analysts say 10,000 is more than just a number -- it can have legitimate psychological implications.

A recovering stock market soothes the psyche as people watch their portfolios and 401(k) retirement accounts being replenished. And if people start spending again, that may persuade more investors, including some reluctant pros, to go back into the market.

"Psychology plays a huge role in investing, so when you're trying to overcome the huge levels of panic and fear that we've seen over the last year, psychology shouldn't be discounted," said Carl Beck, a partner at Harris Financial Group.

Many investors, especially individuals, are afraid they'll put money into the market only to watch it disappear if stocks plunge again. It's happened before: In 1975, stocks rose 53 percent in less than four months after a recession. Then they lost 11 percent before climbing again in early 1976.

If stocks follow historical patterns, they could be nearing their peak. Assuming the recession technically ended this summer, as many economists believe, the Dow's surge since March puts it near where past rebounds have started to fade.

On top of that, there are still plenty of problems that could trip up the market. Companies posted better-than-expected earnings in the second quarter, but mostly because of cost-cutting, not the sales increases needed to keep growing.

Earnings reports from chip maker Intel Corp. and banker JPMorgan Chase & Co. gave the Dow its final push past 10,000.

JPMorgan, the first major bank to report third-quarter earnings, stoked the market's optimism as it easily beat Wall Street's expectations, reporting a profit of $3.59 billion for the July-September period. The stock, a Dow component, rose $1.50, or 3.3 percent, to $47.16.

Financial stocks have posted the biggest gains since the rally began, but they were also among the most decimated. JPMorgan is up 197 percent and Bank of America Corp. is up 492 percent.

Intel also beat analysts' estimates, reporting a smaller-than-expected drop in profits and sales after the market closed Tuesday. Intel rose 34 cents, or 1.7 percent, to $20.83.

Individual investors remain cautious. In August, well into the rally, they put $11 into bond funds for every dollar they put into stock funds, according to the Investment Company Institute, the mutual fund trade group.

But they appear to slowly be coming back to stocks. Retail brokerage TD Ameritrade reported an average of 431,000 trades a day in August, up from barely more than 300,000 when the market was sliding in January and February.

If the market can hold Wednesday's milestone, investors should grow even more confident.

"It wouldn't surprise me if it made Joe Main Street more comfortable," David Kelson, portfolio manager of Talon Asset Management in Chicago.

Bond prices fell as stocks soared. The yield on the 10-year Treasury note rose to 3.42 percent from 3.35 percent late Tuesday.

Oil jumped $1.03 to settle at $75.18 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 12.24, or 2 percent, to 623.94.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The major stock indices extended their 2009 highs late this session by overcoming losses that stemmed from a sell-the-news reaction to quarterly reports from Goldman Sachs and Citigroup. 

The broader market spent most of the session with modest losses, which came amid considerable weakness in the financial sector. Financials were down as much as 1.7% following better-than-expected earnings from Goldman Sachs (GS 188.63, -3.65) and Citigroup (C 4.75, -0.25), both of which benefited in the previous session from an upbeat report from JPMorgan Chase (JPM 47.16, +0.00). However, the gains during the previous session effectively priced in this morning's positive surprise, prompting participants to sell the shares and take profits as the news hit. 

A late-day surge left stocks with modest advances Thursday as a jump in the price of oil lifted energy companies and offset weakness in bank shares.

The gains came a day after strong profit reports from JPMorgan Chase & Co. and Intel Corp. vaulted the Dow Jones industrials above the 10,000 level for the first time in a year. The Dow tacked on another 47 points.

Stocks spent most of the day lower but rallied in the final 15 minutes of trading ahead of quarterly reports from Google Inc., IBM Corp. and chip maker Advanced Micro Devices that arrived after the closing bell. All three topped expectations and could help the market extend its gains if reports due early Friday from General Electric Co. and Bank of America Corp. aren't spoilers.

*The NYSE DOW closed HIGHER +47.08  points +0.47% on Thursday October 15*
Sym Last........ ........Change.......... 
Dow 10,062.94 +47.08 +0.47% 
Nasdaq 2,173.29 +1.06 +0.05% 
S&P 500 1,096.56 +4.54 +0.42% 
30-yr Bond 4.3130% +0.0380 

NYSE Volume 6,179,383,500  (prior day 6,248,702,000)
Nasdaq Volume 2,199,385,750  (prior day 2,383,078,250)

Oil 71.50 -0.05 -0.07% 
Gold US$/oz 1049.85 -12.10 -1.14% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,222.95 -33.15 -0.63% 
DAX 5,830.77 -23.37 -0.40% 
CAC 40 3,883.83 +1.16 +0.03% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,238.65 +178.44 +1.77% 
Hang Seng 21,999.08 +112.60 +0.51% 
Straits Times 2,712.15 +3.67 +0.14% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks rise as energy gains offset drop in banks

Stocks post modest gains as rising energy companies offset slide in financials; Dow adds 47*

By Tim Paradis, AP Business Writer 

 NEW YORK (AP) -- A late-day surge left stocks with modest advances Thursday as a jump in the price of oil lifted energy companies and offset weakness in bank shares.

The gains came a day after strong profit reports from JPMorgan Chase & Co. and Intel Corp. vaulted the Dow Jones industrials above the 10,000 level for the first time in a year. The Dow tacked on another 47 points.

Stocks spent most of the day lower but rallied in the final 15 minutes of trading ahead of quarterly reports from Google Inc., IBM Corp. and chip maker Advanced Micro Devices that arrived after the closing bell. All three topped expectations and could help the market extend its gains if reports due early Friday from General Electric Co. and Bank of America Corp. aren't spoilers.

Analysts say the market's late bounce signals investors are still looking to get into the market.

"People are trying to buy on the dips," said Andrew Neale, partner and portfolio manager at Fogel Neale Partners in New York. "There is so much money waiting on the sidelines."

A rise in oil prices to their highest level in nearly a year lifted energy stocks and, in turn, the overall market. Gains in companies like refiner Tesoro Corp. and Chevron Corp. helped offset losses in financial stocks after earnings from Goldman Sachs Group Inc. and Citigroup Inc. disappointed investors.

JPMorgan helped set a high bar for bank earnings, and investors didn't like as much what they heard from rivals Goldman and Citi. Goldman's net income of $3.19 billion beat expectations on strong trading profits, but investment banking revenues fell. Citigroup reported a smaller loss than expected but said credit losses remain high.

Investors drew some comfort from a government report that new unemployment claims fell more than expected last week.

"Things are going in the right direction but the fundamental economic improvement is slow," said Robert Dye, senior economist at PNC Financial Services Group.

The day's modest moves weren't unexpected. Seeing the Dow Jones industrials at five digits for the first time in a year could spook some traders who worry that stocks have been too quick to rebound. Others say that skepticism is a signal that the market will continue to defy expectations and advance.

The Dow rose 47.08, or 0.5 percent, to 10,062.94, its highest close since Oct. 3 last year. The broader Standard & Poor's 500 index rose 4.54, or 0.4 percent, to 1,096.56. The Nasdaq composite index rose 1.06, or 0.1 percent, to 2,173.29.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where consolidated volume came to 5.4 billion shares, in line with Wednesday.

Since March, the Dow has jumped 53.7 percent, while the S&P 500 index is up 62.1 percent and the Nasdaq is up 71.3 percent.

Crude oil rose $2.40 to settle at $77.58 a barrel on the New York Mercantile Exchange after the government said refiners cut production last week.

That lifted energy stocks. Tesoro advanced $1.25, or 8.6 percent, to $15.83, while Chevron rose $1.23, or 1.6 percent, to $76.69.

Bob Brown, chief investment officer at Northern Trust in Chicago, said rising oil could trip up a recovery in the economy if it continues.

"Whenever oil goes up two-and-a-half bucks we can't have too many days like that before start to worry," he said.

The Labor Department said the number of newly laid-off workers filing claims for unemployment insurance fell to its lowest level since January. First-time claims for jobless benefits dropped to 514,000, better than the 525,000 economists were expecting, according to Thomson Reuters.

Bond prices slipped as the economic reports signaled improvement in the economy. The yield on the benchmark 10-year Treasury note rose to 3.46 percent from 3.42 percent late Wednesday.

The Russell 2000 index of smaller companies slipped 0.60, or 0.1 percent, to 623.34.

Overseas, Britain's FTSE 100 fell 0.6 percent, Germany's DAX index lost 0.4 percent, and France's CAC-40 rose less than 0.1 percent. Japan's Nikkei stock average jumped 1.8 percent.


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Weekly Recap - Week ending 16-Oct-09 - All ten of the sectors gained, with the advance led by energy companies (+5.2%) and materials (+2.2%).  Telecom (+0.1%) and consumer staples (+0.2%) underperformed on a relative basis.

The Dow Jones industrial average closed the week up 130.97, or 1.3 percent, at 9,995.91. The Standard & Poor's 500 index rose 16.19, or 1.5 percent, to 1,087.68. The Nasdaq composite index rose 17.52, or 0.8 percent, to 2,156.80.

Stocks ended a strong week with a flash of selling after Bank of America Corp. and General Electric Co. signaled that businesses and consumers are still struggling to pay off their debts.

The market slid Friday as quarterly results from the companies dented hopes that earnings would show strong signs of improvement in the July-September period. A rise in oil also helped the market end well off its lows, repeating a pattern seen earlier in the week.

The Dow Jones industrial average fell 67 points to finish just below the 10,000 mark, which it had broken through on Wednesday for the first time in a year. Despite the drop stocks still posted big gains for the week.

*The NYSE DOW closed LOWER -67.03 points -0.67% on Friday October 16*
Sym Last........ ........Change.......... 
Dow 9,995.91 -67.03 -0.67% 
Nasdaq 2,156.80 -16.49 -0.76% 
S&P 500 1,087.68 -8.88 -0.81% 
30-yr Bond 4.2470% -0.0660 

NYSE Volume 5,708,362,000  (prior day 6,179,383,500)
Nasdaq Volume 2,237,903,750  (prior day 2,199,385,750)

Oil 71.50 -0.05 -0.07% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,190.24 -32.71 -0.63% 
DAX 5,743.39 -87.38 -1.50% 
CAC 40 3,827.60 -56.23 -1.45% 
*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,257.56 +18.91 +0.18% 
Hang Seng 21,929.90 -69.18 -0.31% 
Straits Times 2,708.12 -4.03 -0.15% 


http://finance.yahoo.com/news/Bank-...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Bank of America, GE results push stocks lower

Stocks fall as results from Bank of America, General Electric rattle investors; Dow falls 67*

By Sara Lepro and Tim Paradis, AP Business Writers 
On 6:07 pm EDT, Friday October 16, 2009 

NEW YORK (AP) -- Stocks ended a strong week with a flash of selling after Bank of America Corp. and General Electric Co. signaled that businesses and consumers are still struggling to pay off their debts.

The market slid Friday as quarterly results from the companies dented hopes that earnings would show strong signs of improvement in the July-September period. A rise in oil also helped the market end well off its lows, repeating a pattern seen earlier in the week.

The Dow Jones industrial average fell 67 points to finish just below the 10,000 mark, which it had broken through on Wednesday for the first time in a year. Despite the drop stocks still posted big gains for the week.

Bank of America lost more than $2.2 billion in the third quarter. The bank wrote down almost $10 billion in bad loans, about $1 billion more than in the previous quarter. The loss was steeper than expected and the write-offs stirred fears that struggling consumers won't be able to increase their spending.

Rivals Citigroup Inc. and JPMorgan Chase & Co. also posted higher loan losses as part of their financial results this week. The reports underscored the challenges brought by high unemployment, weak consumer spending and diminished home values.

"It is, after all, the largest consumer bank and it may have just offered up a reminder that financial strains in the household sector haven't gone away," said David Rosenberg, chief economist and strategist at Gluskin Sheff, referring to Bank of America.

General Electric's report also revealed signs of credit weakness. The conglomerate's profit dropped 44 percent, hurt by much lower earnings at its financial arm, GE Capital, which loans money to a variety of businesses.

A drop in the mood of consumers fanned concerns that people nervous about jobs and the economy will hold off spending. The Reuters/University of Michigan consumer sentiment index fell to 69.4 in a preliminary reading for October from 73.5 in September.

Tim Knepp, chief investment officer of Genworth Financial Asset Management, said the reports from Bank of America and GE indicated that the stock market could be getting too far ahead of the economy. The Standard & Poor's 500 index is up 60.8 percent from a 12-year low in early March.

"They're still talking about a tough environment," Knepp said, referring to the companies. "The market is a bit rich."

The Dow fell 67.03, or 0.7 percent, to 9,995.91 after being down as much as 123 points at its low of the day. The broader S&P 500 index fell 8.88, or 0.8 percent, to 1,087.68, and the Nasdaq composite index fell 16.49, or 0.8 percent, to 2,156.80.

Two stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 5 billion compared with 5.4 billion Thursday.

For the week, the Dow rose 1.3 percent, the S&P 500 index added 1.5 percent and the Nasdaq rose 0.8 percent.

Investors pored over the rush of bank reports during the week for signs that credit losses are stabilizing, which would help the economy recover.

JPMorgan reported a strong profit in part because of robust activity in its trading business, which compensated for its own higher loan losses. That helped push the Dow industrials over 10,000, a welcome sign of the market's recovery. Stocks are still well below from their peak in October 2007.

Bank of America fell 84 cents, or 4.6 percent, to $17.26, while GE gave up 71 cents, or 4.2 percent, to $16.08.

The reports overshadowed solid results from Google Inc. that arrived after the closing bell Thursday. The Internet search company reported a record profit as revenue growth accelerated for the first time since the recession began in December 2007. The stock advanced $19.94, or 3.8 percent, to $549.85. During trading, it rose to $554.75, a 12-month high.

Google's report and a rise in oil helped limit the day's selling by lifting shares of energy companies. Crude oil rose 95 cents to settle at $78.53 a barrel on the New York Mercantile Exchange. Oil rose more than 9 percent during the week as the dollar slid.

Investors have continued to pump money into stocks even as many analysts worry that the market is getting overheated. Some of those who have been left out of the advance have been buying on the dips, as occurred Thursday and Friday.

That stream of new money could be disrupted if earnings reports signal that the economy will have trouble mounting even a modest recovery.

Most earnings from the third quarter have topped expectations, but the heaviest weeks of reports are yet to come. Reports are due next week from hundreds of companies ranging from Coca-Cola Co. to Microsoft Corp.

Investors also will get data on home construction and inflation as well as a region-by-region look at the economy from the Federal Reserve.

Bond prices mostly rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.42 percent from 3.46 percent late Thursday.

The dollar mostly rose against other major currencies, while gold prices rose.

The Russell 2000 index of smaller companies fell 7.16, or 1.2 percent, to 616.18.

Overseas, Britain's FTSE 100 fell 0.6 percent, while Germany's DAX index and France's CAC-40 each dropped 1.5 percent. Earlier, Japan's Nikkei stock average rose 0.2 percent.

The Dow Jones industrial average closed the week up 130.97, or 1.3 percent, at 9,995.91. The Standard & Poor's 500 index rose 16.19, or 1.5 percent, to 1,087.68. The Nasdaq composite index rose 17.52, or 0.8 percent, to 2,156.80.

The Russell 2000 index, which tracks the performance of small company stocks, rose 1.26, or 0.2 percent, for the week to 616.18.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,111.85, up 148.36, or 1.4 percent.

650


----------



## bigdog

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Broad-based buying helped stocks bounce back from a dip at the open to log fresh highs for 2009, but the S&P 500 met resistance when it hit the 1100 mark, which was last seen just over one year ago. 
Investors are seeing the kind of earnings numbers that make them feel confident about stocks.

The market stepped to new highs for the year Monday after a handful of earnings reports bolstered hopes that the economy is coming back sooner than many analysts had thought.

That is helping some investors move past a bout of nerves about whether expectations for the economy are stretched too far. The Dow Jones industrial average rose 96 points, while the Standard & Poor's 500 index advanced but ended just shy of 1,100, having topped that level during the day.

*The NYSE DOW closed HIGHER +96.28 points +0.96%  on Monday October 19*
Sym Last........ ........Change.......... 
Dow 10,092.19 +96.28 +0.96% 
Nasdaq 2,176.32 +19.52 +0.91% 
S&P 500 1,097.91 +10.23 +0.94% 
30-yr Bond 4.2170% -0.0300 

NYSE Volume 5,262,016,500  (prior day 5,708,362,000)
Nasdaq Volume 1,997,103,000  (prior day 2,237,903,750)

Oil 71.50 -0.05 -0.07% 
Gold US$/oz 1062.70 +9.50 +0.90% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,281.54 +58.59 +1.12% 
DAX 5,852.56 +109.17 +1.90% 
CAC 40 3,892.36 +64.76 +1.69% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,236.51 -21.05 -0.21% 
Hang Seng 22,200.46 +270.56 +1.23% 
Straits Times 2,710.24 +2.12 +0.08% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks rise as earnings reports top expectations

Stocks climb as earnings jump past expectations; Eaton, Gannett gain after results top views*

By Tim Paradis, AP Business Writers 
On 5:56 pm EDT, Monday October 19, 2009 

NEW YORK (AP) -- Investors are seeing the kind of earnings numbers that make them feel confident about stocks.

The market stepped to new highs for the year Monday after a handful of earnings reports bolstered hopes that the economy is coming back sooner than many analysts had thought.

That is helping some investors move past a bout of nerves about whether expectations for the economy are stretched too far. The Dow Jones industrial average rose 96 points, while the Standard & Poor's 500 index advanced but ended just shy of 1,100, having topped that level during the day.

Industrial equipment maker Eaton Corp. said it was seeing improvement in key markets and raised its full-year profit forecast. Newspaper publisher Gannett Co. managed to post a profit despite a sharp fall in revenue.

The day's gains came ahead of quarterly earnings released after the closing bell from Apple Inc. and Texas Instruments Inc. Both wound up beating forecasts.

Apple blew past expectations because of increased sales of the iPhone, while Texas Instruments' profit and sales came in above the improved forecast the chip maker issued just last month. Share of both tech companies gained in after-hours electronic trading.

The reports are adding to investors' expectations for the technology industry. Last week, Google Inc. and chipmaker Intel Corp. posted solid earnings. Many tech companies have strong balance sheets have large amounts of cash that have enabled them to weather the recession better than companies in other industries.

Caterpillar Inc., Coca-Cola Co. and DuPont are slated to report results before the opening bell Tuesday.

A drop in the dollar also helped push commodity prices higher, which in turn helped stocks of materials and energy companies.

Investors are relieved to see better results in a broad range of industries following news last week from some major banks, which reported rising loan delinquencies.

Burt White, chief investment officer at LPL Financial in Boston, noted that three of every four companies have topped analysts' expectations for earnings in the July-September quarter. While most have yet to report, the early results are a sign that companies are holding up better than many had predicted.

"The recovery is moving faster than analysts can sharpen their pencils and revise their estimates upward," he said.

The Dow rose 96.28, or 1 percent, to 10,092.19. The broader S&P 500 index rose 10.23, or 0.9 percent, to 1,097.91. For both indexes, it was the highest close since Oct. 3 last year.

The Nasdaq composite index rose 19.52, or 0.9 percent, to 2,176.32, its highest close since Sept. 26, 2008.

The day's advance came on the 22nd anniversary of the 1987 stock market crash known as "Black Monday," which saw the Dow plunge a record 22.6 percent on worries about interest rates and slowing economic growth.

Bond prices rose. The yield on the benchmark 10-year Treasury note fell to 3.39 percent from 3.42 percent late Friday.

Investors grew hopeful that Federal Reserve policymakers would be able to withdraw some of the money supporting the economy as conditions improved. That could help prevent inflation, which is a worry for investors because of the huge amounts of money the government has pumped into the financial system.

The New York Federal Reserve, which carries out the central bank's market operations, said it has been preparing plans for how it could begin weaning the economy from monetary stimulus.

The dollar mostly fell against other major currencies, while gold prices rose. The ICE Futures U.S. dollar index fell 0.3 percent to its lowest level since August 2008.

Crude oil rose $1.08 to settle at $79.61 per barrel on the New York Mercantile Exchange. The Reuters/Jefferies CRB index, a measure of commodities trading, jumped 1.3 percent to its highest level of the year.

Apple rose $1.81, or 1 percent, to $189.86 in the regular session and rose 6.2 percent in electronic trading after its report. Texas Instruments rose 77 cents, or 3.4 percent, to $23.52 and added 2.2 percent in late trading.

Bob Jergovic, chief investment officer at CLS Investments in Omaha, Neb., said investors are now trying to determine whether a recovery in corporate profits will continue and, if so, whether that will help the overall economy if companies are more willing to hire and make investments.

"We're in that phase where the market has really got to sort it out," he said. "Can we make that handoff from a profit recovery to an economic recovery?"

More than two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 4.7 billion shares compared with 5 billion Friday.

The Russell 2000 index of smaller companies rose 6.16, or 1 percent, to 622.34.

Britain's FTSE 100 rose 1.8 percent, Germany's DAX index rose 1.9 percent, and France's CAC-40 advanced 1.7 percent. Japan's Nikkei stock average fell 0.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Positive earnings surprises from Apple (AAPL 198.76, +8.90), Texas Instruments (TXN 23.66, +0.14), Caterpillar (CAT 59.61, +1.76), Pfizer (PFE 17.93, -0.05), and UnitedHealth (UNH 25.96, +1.04) couldn't keep the broader market from slipping to a loss as a stronger dollar pressured stocks and commodities alike. 

Stocks looked poised to start the session on strong footing and extend the previous session's gains, but the positive tone among participants dwindled in the opening minutes as enthusiasm faded for the strong earnings of several widely-held companies. A bounce by the U.S. dollar also undercut stocks; basic materials stocks (-1.1%) and energy stocks (-0.9%) were hit particularly hard, given their correlation to commodity prices.

A disappointing report on housing starts made investors nervous about the economy Tuesday and sent stocks lower even as profits at many companies exceed expectations.

The major indexes slipped about half a percent, and the Dow Jones industrials lost 50 points.

Stocks retreated from 2009 highs after the Commerce Department said applications for home building permits fell in September by the largest amount in five months. That is a discouraging signal for future construction.

*The NYSE DOW closed LOWER -50.71 points -0.50% on Tuesday October 20*
Sym Last........ ........Change.......... 
Dow 10,041.48 -50.71 -0.50% 
Nasdaq 2,163.47 -12.85 -0.59% 
S&P 500 1,091.06 -6.85 -0.62% 
30-yr Bond 4.1600% -0.0570 

NYSE Volume 6,108,117,000  (prior day 5,262,016,500)
Nasdaq Volume 2,156,024,250  (prior day 1,997,103,000)

Oil 71.50 -0.05 -0.07% 
Gold US$/oz 1054.60 -8.10 -0.76%

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,243.40 -38.14 -0.72% 
DAX 5,811.77 -40.79 -0.70% 
CAC 40 3,871.45 -20.91 -0.54% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,336.84 +100.33 +0.98% 
Hang Seng 22,384.96 +184.50 +0.83% 
Straits Times 2,711.09 -0.61 -0.02% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks fall after mixed economic data, earnings

Market retreats after mixed signals from economic reports, earnings reports; Dow falls 51*

By Tim Paradis, AP Business Writer 
On 5:46 pm EDT, Tuesday October 20, 2009 

NEW YORK (AP) -- A disappointing report on housing starts made investors nervous about the economy Tuesday and sent stocks lower even as profits at many companies exceed expectations.

The major indexes slipped about half a percent, and the Dow Jones industrials lost 50 points.

Stocks retreated from 2009 highs after the Commerce Department said applications for home building permits fell in September by the largest amount in five months. That is a discouraging signal for future construction.

Investors will get another measure of the housing market's health Friday with a report on sales of existing homes. After several months of upbeat data, the past few weeks have brought signs that a housing recovery could be slowing.

A rebound in the dollar from 14-month lows against other major currencies also hurt stocks by driving down commodities prices and, in turn, sending energy and materials companies lower. Bond prices rose after the government said wholesale prices fell last month.

The housing data and the stronger dollar overshadowed strong earnings reports from Apple Inc., Caterpillar Inc. and health insurer UnitedHealth Group Inc.

Earnings are likely to dominate trading Wednesday. After the close of Tuesday's trading, Yahoo Inc. and SanDisk Corp. turned in profits that were well ahead of analyst expectations. The stocks gained in after-hours electronic trading.

Even with worries about the economy, Tuesday's drop was modest and not unexpected after stocks have rocketed higher with little break for seven months.

Schaeffer's Investment Research analyst Todd Salamone said the market's ability to avoid a big slide is encouraging.

"We've got a report that's disappointing and the bears haven't really gained control here," he said. "It's a good excuse just to take a breather."

The Dow fell 50.71, or 0.5 percent, to 10,041.48.

The broader Standard & Poor's 500 index fell 6.85, or 0.6 percent, to 1,091.06. The index, the basis of many mutual funds, is up 61.3 percent from a 12-year low in early March.

The Nasdaq composite index fell 12.85, or 0.6 percent, to 2,163.47.

Treasury prices rose, pushing their yields lower, after the Labor Department said wholesale prices fell in September, leaving a larger-than-expected monthly drop in the producer price index. The bond market tends to rise on signs of muted inflation. The yield on the 10-year Treasury note fell to 3.34 percent from 3.39 percent late Monday.

The dollar and gold rose. Crude oil lost ground for the first time in a week, falling 52 cents to settle at $79.09 a barrel on the New York Mercantile Exchange. Oil rose to $80.05 during the day, its highest level in a year.

Investors dumped shares of home builders after the report of a 1.2 percent drop in applications for housing permits. Pulte Homes Inc. fell 53 cents, or 5 percent, to $10.08, while Hovnanian Enterprises Inc. fell 18 cents, or 4.6 percent, to $3.76.

Not all analysts see the drop in permits as bad. Jack Ablin, chief investment officer at Harris Private Bank in Chicago, said slower building will help the market work off a glut of unsold homes.

"The faster we can clear this inventory the better it will be," he said.

The retreat in stocks comes as many earnings reports are topping expectations in part because of cost-cutting.

Dan Cook, senior market analyst at IG Markets in Chicago, is concerned that companies aren't bringing in more revenue. He noted that reducing costs by laying off workers adds to the problems facing the overall economy.

"We call it cost-cutting because that's kind of the nice term, but in reality a lot of those are consumers," he said.

Cook said companies won't be able to keep generating earnings that top expectations if improved profits don't eventually help the economy.

Apple closed up $8.90, or 4.7 percent, at $198.76, after trading at a 12-month high of $201.75. Caterpillar rose $1.76, or 3 percent, to $59.61, while UnitedHealth Group jumped $1.04, or 4.2 percent, to $25.96.

Yahoo slipped 5 cents to $17.17. In late trading it rose 2.5 percent. SanDisk advanced 2 cents to $21.48 but jumped 11.5 percent in late trading.

Two stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 5.4 billion shares compared with 4.7 billion Monday.

The Russell 2000 index of smaller companies fell 8.93, or 1.4 percent, to 613.41.

Overseas, Britain's FTSE 100 fell 0.7 percent, Germany's DAX index lost 0.7 percent and France's CAC-40 fell 0.5 percent. Japan's Nikkei stock average rose 1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

*Was OK until the last 45 minutes; check the chart below!!!*

An aggressive selling effort in the final hour of trade took the stock market from a solid gain to a considerable loss. The downturn was broad based and left many of the major sectors to settle at session lows. 

Stocks had been showing moderate weakness ahead of the opening bell, but jumped out to a strong gain in the early going. The S&P 500 even made its way to a near 1% gain so that it fractionally set a new high for 2009.

Spooked traders unraveled a rally in stocks late Wednesday as a downbeat assessment of a bank touched off fears that the market is getting overheated.

The Dow Jones industrial average ended down 92 points after having risen 78 points earlier in the day to a new high for the year.

Analysts pointed to a note on Wells Fargo & Co. from banking analyst Richard Bove as the source of the drop, but also said a mix of complacency and lingering concerns about the pace of the market's climb in the past seven months left stocks ripe for a hit.

*The NYSE DOW closed LOWER -92.12 points -0.92% on Wednesday October 21*
Sym Last........ ........Change.......... 
Dow 9,949.36 -92.12 -0.92% 
Nasdaq 2,150.73 -12.74 -0.59% 
S&P 500 1,081.40 -9.66 -0.89% 
30-yr Bond 4.23% +0.07 

NYSE Volume 6,514,343,500  (prior day 6,108,117,000)
Nasdaq Volume 2,600,789,500  (prior day 2,156,024,250)

Oil 71.50 -0.05 -0.07% 
Gold US$/oz 1058.95 +4.35 +0.41% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,257.85 +14.45 +0.28% 
DAX 5,833.49 +21.72 +0.37% 
CAC 40 3,873.22 +1.77 +0.05% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,333.39 -3.45 -0.03% 
Hang Seng 22,318.11 -66.85 -0.30% 
Straits Times 2,692.55 -18.54 -0.68% 

http://finance.yahoo.com/news/Stocks-turn-lower-as-note-on-apf-2891092628.html?x=0

*Stocks turn lower as note on banks spooks traders

Stock market turns lower as analyst note about Wells Fargo hurts financials; Dow falls 92*

By Tim Paradis, AP Business Writer 
On 5:44 pm EDT, Wednesday October 21, 2009 

NEW YORK (AP) -- Spooked traders unraveled a rally in stocks late Wednesday as a downbeat assessment of a bank touched off fears that the market is getting overheated.

The Dow Jones industrial average ended down 92 points after having risen 78 points earlier in the day to a new high for the year.

Analysts pointed to a note on Wells Fargo & Co. from banking analyst Richard Bove as the source of the drop, but also said a mix of complacency and lingering concerns about the pace of the market's climb in the past seven months left stocks ripe for a hit.

Joe Saluzzi, co-head of equity trading at Themis Trading LLC, said the note was a reminder of troubles still in the economy and was enough to scare many traders.

"They all ran for the exits at the same time," he said.

The slide in the final hour of trading was reminiscent of the types of big swings seen a year ago at the height of the financial crisis. But analysts said the reasons for the latest slide had been building throughout the day: Major stock indexes touched their highest levels in a year, the dollar extended its drop, oil rose above $82 a barrel and Wal-Mart Stores Inc. said it was cutting prices, a sign that consumers are still struggling.

The pullback comes as analysts say some investors have become too relaxed.

The Chicago Board Options Exchange's Volatility Index, known as the market's fear index, jumped late in the day and ended with a gain of 6.3 percent. During trading it had touched its lowest level since August 2008. The VIX stands at 22.2 and is down 44.5 percent this year. Its historical average is 18-20. It hit a record 89.5 a year ago.

Todd Colvin, vice president at MF Global, said investors had grown too complacent in betting that stocks would continue to climb.

"It was a very one-sided trade. Stocks have been going up," he said. "We're starting to see 'Wait a minute, we're not out of the woods yet.'"

The Dow Jones industrial average fell 92.12, or 0.9 percent, to 9,949.36, just above its low of the day. It was the biggest point and percent drop since Oct. 1. The Dow, which also lost ground Tuesday, has fallen in three of the last four days. The Dow closed above 10,000 last week for the first time in a year.

The broader Standard & Poor's 500 index fell 9.66, or 0.9 percent, to 1,081.40, after reaching 1,101.36, its highest level in the past year. The Nasdaq composite index fell 12.74, or 0.6 percent, to 2,150.73.

Two stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 5.7 billion shares compared with 5.4 billion Tuesday.

Stocks spent much of the day higher after a handful of banks, including Wells Fargo, as well as Morgan Stanley and US Bancorp, posted better results for the July-September quarter. All of them also had higher loan losses, however. That is a sign that the broader economy is struggling even as the financial industry recovers.

Last week, Bank of America Corp., JPMorgan Chase & Co. and Citigroup Inc. also reported higher credit losses as consumers and businesses struggle to pay off their bills.

Dan Deming, a trader with Strutland Equities in Chicago, said the S&P 500's move above 1,100 made some investors uneasy about the market's rise. The index is up 59.9 percent from a 12-year low in early March.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.39 percent from 3.34 percent late Tuesday.

The day's drop came as crude oil rose $2.25 to settle at $81.37 per barrel on the New York Mercantile Exchange as the dollar weakened. Commodities are priced in dollars, making them cheaper for overseas buyers when the greenback slides.

If energy prices rise too far it could make it harder for the economy to recover by raising transportation and other costs.

Banks, which had been leading the market higher, were mainly lower after the note about Wells Fargo. Wells Fargo fell $1.56, or 5.1 percent, to $28.90. Morgan Stanley rose $1.56, or 4.8 percent, to $34.08 and US Bancorp rose 63 cents, or 2.7 percent, to $24.43.

Wal-Mart said during the afternoon that it would cut prices this holiday season for a week at a time on thousands of items. That made some investors nervous that the nation's largest retailer doesn't expect consumers will be able to spend much for the important shopping period.

Airlines slumped after American Airlines parent AMR Corp., Continental Airlines Inc. and UAL Corp.'s United Airlines posted losses. AMR shares fell 91 cents, or 11.9 percent, to $6.75 and Continental slid $2.19, or 13.8 percent, to $13.73, while UAL fell 98 cents, or 12.4 percent, to $6.92.

The market's slide didn't pull all stocks lower. Some technology names rose after Yahoo Inc. and SanDisk Corp., a maker of flash memory cards, reported profits that topped analyst expectations after the close of trading Tuesday. Yahoo rose 49 cents, or 2.9 percent, to $17.66, while SanDisk jumped $2.05, or 9.5 percent, to $23.53.

Shares of Apple Inc. set a record, topping its previous trading high of $202.96 from Dec. 27, 2007. The company, which on Monday posted a 47 percent jump in its third-quarter earnings, rose $6.16, or 3.1 percent, to $204.92. It traded as high as $208.71.

In other trading, the Russell 2000 index of smaller companies fell 8.30, or 1.4 percent, to 605.11.

Overseas, Britain's FTSE 100 rose 0.3 percent, Germany's DAX index rose 0.4 percent, and France's CAC-40 advanced 0.1 percent. Japan's Nikkei stock average fell 0.03 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks stumbled in the early going, but strength among blue chips and financials helped the broader market to fight its way back to log an impressive gain for the session. 

Participants appeared unfazed by a large batch of better-than-expected earnings reports this morning. In turn, stocks found little support and traded lower during the first few minutes of the session. 

Investors encouraged by a good batch of earnings reports and forecasts jumped back into stocks after a two-day slide.

Stocks posted big gains Thursday as investors snapped up financial shares after several banks said they weren't seeing as many loans go bad. The market extended its advance in afternoon trading when Wal-Mart Stores Inc. said it expects sales to grow this year and increase at a faster pace next year.

The Dow Jones industrial average jumped 132 points and logged the biggest gain of major indexes after Wal-Mart's forecast and as several companies included in the indicator reported earnings that beat expectations.

*The NYSE DOW closed HIGHER +131.95  points +1.33% on Thursday October 22*
Sym Last........ ........Change.......... 
Dow 10,081.31 +131.95 +1.33% 
Nasdaq 2,165.29 +14.56 +0.68% 
S&P 500 1,092.91 +11.51 +1.06% 
30-yr Bond 4.25% +0.02 

NYSE Volume 6,032,991,000  (prior day 6,514,343,500)
Nasdaq Volume 2,296,653,750  (prior day 2,600,789,500)

Oil 71.50 -0.05 -0.07% 
Gold US$/oz 1060.00 +1.65 +0.16%

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,207.36 -50.49 -0.96% 
DAX 5,762.93 -70.56 -1.21% 
CAC 40 3,820.85 -52.37 -1.35% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,267.17 -66.22 -0.64% 
Hang Seng 22,210.52 -107.59 -0.48% 
Straits Times 2,688.11 -4.44 -0.16%

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks rise as financial, consumer stocks gain

Stocks rebound as upbeat earnings reports push investors into financial, consumer stocks*

By Tim Paradis, AP Business Writer 
On 6:02 pm EDT, Thursday October 22, 2009 

NEW YORK (AP) -- Investors encouraged by a good batch of earnings reports and forecasts jumped back into stocks after a two-day slide.

Stocks posted big gains Thursday as investors snapped up financial shares after several banks said they weren't seeing as many loans go bad. The market extended its advance in afternoon trading when Wal-Mart Stores Inc. said it expects sales to grow this year and increase at a faster pace next year.

The Dow Jones industrial average jumped 132 points and logged the biggest gain of major indexes after Wal-Mart's forecast and as several companies included in the indicator reported earnings that beat expectations.

The technology-heavy Nasdaq composite index advanced the least among major indicators following a disappointing forecast from online retailer eBay Inc.

Tech stocks could get a lift Friday following Amazon.com Inc.'s report that its third-quarter earnings jumped 62 percent. The online retailer brought in more revenue than expected and said it expects sales will continue to grow. The company's report arrived after markets closed, and its shares jumped 15 percent in late trading after ticking up only 3 cents during the day.

Consumer stocks rose after Wal-Mart said it expects sales to increase 1 to 2 percent this year and 4 to 6 percent next year. The nation's largest retailer also said it would focus on emerging markets when opening stores. Meanwhile, clothing retailer J. Crew Group Inc. raised its earnings forecast because of stronger sales and profit margins.

Financial stocks rose after PNC Financial Services Group Inc. and Fifth Third Bancorp each said that bad loans weren't piling up as fast as they had been. Financials had pulled the market lower Wednesday after an analyst took issue with a profit report at Wells Fargo & Co.

Dow components Travelers Cos., McDonald's Corp., 3M Co. and AT&T Inc. posted stronger results than analysts had forecast.

Adam Gould, senior portfolio manager at Direxion Funds in New York, said the market's bounce on the Wal-Mart forecast illustrates how difficult it is to keep stocks down and allow those who missed the seven-month run to buy shares at lower prices.

"People have wanted to see some type of correction but whenever any earnings come out and beat and whenever any economic news comes out that is decent, the market rallies," he said.

The Dow rose 131.95, or 1.3 percent, to 10,081.31. The index is 11 points below its highest close of the year, which it reached on Monday.

The broader Standard & Poor's 500 index rose 11.51, or 1.1 percent, to 1,092.91. The Nasdaq rose 14.56, or 0.7 percent, to 2,165.29.

Two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 5.3 billion shares compared with 5.7 billion Wednesday.

Bond prices fell. The yield on the benchmark 10-year Treasury note rose to 3.42 percent from 3.39 percent late Wednesday.

Mixed economic and earnings reports signal that the economy remains in flux.

The Labor Department said workers filing for unemployment benefits for the first time rose more than expected last week. New claims rose to 531,000 last week from 520,000 the previous week.

Separately, a private forecast of economic activity rose for the sixth straight month in September. The Conference Board's index of leading economic indicators rose 1 percent last month after a 0.4 percent gain in August.

Jeffrey Beamer, Portfolio Manager of Lacerte Capital in Dallas, said earnings reports showing improved profits but still-weak revenue raise questions about whether the market can hold its gains. Cost-cutting, he noted, can only help so much.

"You may look great this quarter but what are you going to do in the coming quarters," Beamer said. "If the earnings aren't just really solid we could get a decent pullback here."

The S&P 500 index is up 61.6 percent from a 12-year low in March.

Wal-Mart slipped 15 cents to $50.48, while J. Crew jumped $5.75, or 15.2 percent, to $43.49.

PNC Financial rose $5.69, or 12.7 percent, to $50.65 and Fifth Third rose 69 cents, or 6.8 percent, to $10.80.

Travelers, the insurer, rose $3.68, or 7.7 percent, to $51.70, while McDonald's advanced $1.17, or 2 percent, to $59.50. Manufacturer 3M advanced $2.46, or 3.2 percent, to $78.79, while AT&T rose 16 cents, or 0.6 percent, to $26.10.

Crude fell 18 cents to settle at $81.19 per barrel on the New York Mercantile Exchange, while gold fell.

The Russell 2000 index of smaller companies rose 8.27, or 1.4 percent, to 613.38.

Overseas markets fell after Wednesday's slide in U.S. stocks. Britain's FTSE 100 fell 1 percent, Germany's DAX index dropped 1.2 percent, and France's CAC-40 fell 1.4 percent. Japan's Nikkei stock average fell 0.6 percent


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week down 23.73, or 0.2 percent, at 9,972.18. The Standard & Poor's 500 index fell 8.08, or 0.7 percent, to 1,079.60. The Nasdaq composite index fell 2.33, or 0.1 percent, to 2,154.47.

The Russell 2000 index, which tracks the performance of small company stocks, fell 15.32, or 2.5 percent, for the week to 600.86.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,008.59, down 103.26, or 0.9 percent.

Participants made a concerted push against stocks Friday, leaving the major indices to end the week on a down note and log their first weekly loss since the start of the month. Weakness was widespread as a large batch of better-than-expected earnings results and an improved rate of existing home sales were shrugged off. 

Investors dumped stocks and locked in profits Friday after the glow of a week full of strong earnings reports faded.

The retreat came as cautious forecasts from railroads caused unease about the economy and a rising dollar pushed prices of commodities lower, which hurt materials and energy stocks. The Dow Jones industrial average fell 109 points to end the week with a modest loss.

Traders appeared eager to collect gains after earnings reports for the July-September quarter came in far stronger than forecast, which had pushed stock indexes up more than 6 percent in the three weeks leading into Friday.

*The NYSE DOW closed LOWER -109.13 points -1.08% on Friday October 23*
Sym Last........ ........Change.......... 
Dow 9,972.18 -109.13 -1.08% 
Nasdaq 2,154.47 -10.82 -0.50% 
S&P 500 1,079.60 -13.31 -1.22% 
30-yr Bond 4.2890% +0.0400 

NYSE Volume 5,543,766,000  (prior day 6,032,991,000)
Nasdaq Volume 2,478,351,750  (prior day 2,296,653,750)

Oil 71.50 -0.05 -0.07% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,242.57 +35.21 +0.68% 
DAX 5,740.25 -22.68 -0.39% 
CAC 40 3,808.24 -12.61 -0.33% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,282.99 +15.82 +0.15% 
Hang Seng 22,589.73 +379.21 +1.71% 
Straits Times 2,715.34 +33.37 +1.24% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks end week lower as investors take profits

Tepid forecasts from railroads worry traders as weaker oil hits energy stocks; Dow falls 109*

By Tim Paradis, AP Business Writer 

 NEW YORK (AP) -- Investors dumped stocks and locked in profits Friday after the glow of a week full of strong earnings reports faded.

The retreat came as cautious forecasts from railroads caused unease about the economy and a rising dollar pushed prices of commodities lower, which hurt materials and energy stocks. The Dow Jones industrial average fell 109 points to end the week with a modest loss.

Traders appeared eager to collect gains after earnings reports for the July-September quarter came in far stronger than forecast, which had pushed stock indexes up more than 6 percent in the three weeks leading into Friday.

"We've had such a great run that you're going to get people taking money off the table, especially at the end of the week," said Dr. Bob Froehlich, senior managing director, at Hartford Financial Services.

Analysts have been calling for stocks to take more breaks after a seven-month rally that raised questions about whether the market was getting ahead of itself. The Standard & Poor's 500 index is up 59.6 percent since March, though it's still down 31 percent from its peak two years ago.

The day's drop came despite some pieces of good news. The National Association of Realtors reported that existing home sales posted their biggest increase in 26 years in September, while shares of Amazon.com rode to a new high after the Internet retailer's earnings and forecasts came in much stronger than expected. Amazon's gains as well as a jump in Microsoft Corp. after its own strong earnings helped limit the losses of the technology-heavy Nasdaq composite index.

However, the strong results from Amazon and Microsoft couldn't erases concerns over a poor outlook and sharp profit drop from chipmaker Broadcom Corp. or the pessimistic forecasts from railroad CEOs.

Union Pacific's CEO Jim Young said he expects the economy to "limp along" until unemployment starts to fall, while Burlington Northern also issued a tepid forecast. Railroads are seen as an early indicator of economic activity because of the key role they play in shipping goods to manufacturers and markets.

Linda Duessel, equity market strategist at Federated Investors, said the market needed to pause after the massive surge it has made over the past seven months.

"The run-up has been too fast," she said. "You need to consolidate."

The Dow fell 109.13, or 1.1 percent, to 9,972.18. The S&P 500 index fell 13.31, or 1.2 percent, to 1,079.60. The Nasdaq fell 10.82, or 0.5 percent, to 2,154.47.

For the week, the Dow lost 24 points, or 0.2 percent. The S&P 500 index fell 0.7 percent and the Nasdaq lost 0.1 percent.

The major indexes closed at their highest levels in a year on Monday but zigzagged the rest of the week as investors digested a rush of earnings reports and grappled with worries that stocks are overheated.

Bond prices fell Friday, sending their yields higher. The yield on the benchmark 10-year Treasury note rose to 3.49 percent from 3.42 percent late Thursday.

The dollar rose against most other major currencies. That pushed down oil, which becomes more expensive for overseas buyers when the dollar strengthens. Crude oil fell 69 cents to settle at $80.50 per barrel on the New York Mercantile Exchange.

Frederic H. Dickson, chief market strategist at D.A. Davidson & Co. in Lake Oswego, Ore., said some stock market investors held off selling because profit reports have been better than expected.

"I think what we have seen is maybe the temptation to take profits postponed a bit because of the exceptional earnings numbers," he said.

Fewer than half of the companies in the S&P 500 index have reported third-quarter earnings, but so far earnings from eight of 10 companies have exceeded analysts' forecasts, according to Thomson Reuters.

Next week brings reports from Kellogg Co., Procter & Gamble Co. and Exxon Mobil Corp. Reports are due on sales of new homes, consumer confidence and demand for big-ticket manufactured items.

Friday's report from the National Association of Realtors was seen as an aberration. Existing home sales rose 9.4 percent as buyers raced to complete purchases before a tax credit expires at the end of November. The pace of the gain was the strongest in two years and nearly double what analysts had expected.

Among companies posting earnings, Union Pacific fell $3.39, or 5.6 percent, to $57.73 and Burlington Northern fell $5.50, or 6.5 percent, to $79.12.

Amazon jumped $25.04, or 26.8 percent, to $118.49 after its third-quarter earnings jumped 68 percent and it forecast more than 20 percent growth for the current quarter. The stock logged a high of $119.65.

Microsoft's earnings fell 18 percent, largely because it deferred revenue when it let buyers of PC's over the summer get free upgrades to Windows 7, which the company released this week. The stock rose $1.43, 5.4 percent, to $28.02.

Broadcom fell $2.23, or 7.3 percent, to $28.50 after the company's earnings fell by half. CEO Scott A. McGregor disappointed investors with a cautious forecast. "There's a little concern about whether Santa's coming this year or not," he said on a conference call.

Three stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 4.8 billion shares, compared with 5.3 billion Thursday.

Overseas, Britain's FTSE 100 climbed 0.7 percent, Germany's DAX index fell 0.4 percent and France's CAC-40 lost 0.3 percent. Japan's Nikkei stock average rose 0.2 percent.

The Dow Jones industrial average closed the week down 23.73, or 0.2 percent, at 9,972.18. The Standard & Poor's 500 index fell 8.08, or 0.7 percent, to 1,079.60. The Nasdaq composite index fell 2.33, or 0.1 percent, to 2,154.47.

The Russell 2000 index, which tracks the performance of small company stocks, fell 15.32, or 2.5 percent, for the week to 600.86.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,008.59, down 103.26, or 0.9 percent.

191


----------



## bigdog

Source: http://finance.yahoo.com

Stocks dropped in broad-based fashion after they failed to extend an early gain and the U.S. dollar made another strong move off of its yearly low. 

The major indices were up solidly in the early going, but the S&P 500 struggled to break above the 1090 zone and the Nasdaq 100 ran into resistance when it approached the 2009 highs that it had set last week. As stocks stalled, sellers stepped in and undercut the early advance. That caused stocks to drop sharply and spend the rest of the afternoon trading in negative territory. 

A strengthening dollar and worries about an overheated market pounded stocks.

Stock indexes started higher Monday but turned sharply lower at midmorning as a rebound in the value of the dollar stalled a rally in commodities. Early gains in prices for oil and other commodities had pushed up shares of energy and materials companies.

The sharp swings in currency and commodities markets sent the Dow Jones industrial average whipsawing in a 200-point range, surrendering an early advance for a loss of 104 points. Stocks have fallen in four of the last five days.

*The NYSE DOW closed LOWER -104.22 points -1.05% on Monday October 26*
Sym Last........ ........Change.......... 
Dow 9,867.96 -104.22 -1.05% 
Nasdaq 2,141.85 -12.62 -0.59% 
S&P 500 1,066.95 -12.65 -1.17% 
30-yr Bond 4.3660% +0.0770 

NYSE Volume 6,478,093,000  (prior day 5,543,766,000)
Nasdaq Volume 2,340,182,000  (prior day 2,478,351,750)

Oil 71.50 -0.05 -0.07% 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,191.74 -50.83 -0.97% 
DAX 5,642.16 -98.09 -1.71% 
CAC 40 3,744.45 -63.79 -1.68% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,362.62 +79.63 +0.77% 
Hang Seng 22,589.73 +379.21 +1.71% 
Straits Times 2,720.74 +5.40 +0.20% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks slide as rising dollar hits oil prices

Stocks give up early gains as rising dollar hurts commodity prices; Dow falls 104 points*

By Tim Paradis, AP Business Writer 
On 5:51 pm EDT, Monday October 26, 2009 

 NEW YORK (AP) -- A strengthening dollar and worries about an overheated market pounded stocks.

Stock indexes started higher Monday but turned sharply lower at midmorning as a rebound in the value of the dollar stalled a rally in commodities. Early gains in prices for oil and other commodities had pushed up shares of energy and materials companies.

The sharp swings in currency and commodities markets sent the Dow Jones industrial average whipsawing in a 200-point range, surrendering an early advance for a loss of 104 points. Stocks have fallen in four of the last five days.

"This is the tug-of-war that's been going on for a while now," said Samuel Dedio, portfolio manager of the Artio U.S. Smallcap Fund in New York, referring to sparring between the dollar and stocks.

Oil gave up early gains to settle down $1.82 at $78.68 per barrel on the New York Mercantile Exchange. That hurt the shares of major oil companies such as ConocoPhillips.

Changes in the dollar's value against other currencies frequently send commodities prices up or down. Since most commodities are priced in dollars they become more attractive to investors outside the U.S. when the dollar is weak, and more expensive when the dollar is strong.

Analysts also said some investors are looking to pocket gains after a stock market run that has stretched nearly eight months and brought share prices to their highest levels in a year.

"I'm not sure that you need to have a good reason to see a reversal like this other than too much too fast," said Harry Rady, chief executive of Rady Asset Management in San Diego, referring to the market's rise from 12-year lows in early March.

Technology shares fared better than other parts of the market Monday after Marvell Technology Group Ltd., which makes chips used in phone networks, raised its fiscal third-quarter revenue forecast. That helped the technology-focused Nasdaq composite index limit its losses. RadioShack Corp.'s third-quarter sales topped expectations, helping some retailers.

Richard Ross, global technical strategist at Auerbach Grayson in New York, said the direction of the dollar as well as volatility continues to drive stock trading. "You're seeing this sort of waltz between the dollar and volatility and stocks," Ross said.

The Dow fell 104.22, or 1.1 percent, to 9,867.96. The index fell 109 Friday. The slide is the first consecutive triple-digit loss for the Dow since June 15-16.

The broader Standard & Poor's 500 index fell 12.65, or 1.2 percent, to 1,066.95. The index, which is the basis for many mutual funds, is down 2.8 percent from its recent peak a week ago.

The Nasdaq fell 12.62, or 0.6 percent, to 2,141.85.

About three stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 5.7 billion shares compared with 4.8 billion Friday.

Stocks fell Friday after a rise in the dollar hurt commodity prices. The Dow lost 0.2 percent last week, while the S&P 500 index fell 0.7 percent.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.56 percent from 3.49 percent late Friday. It was the first time since late August that the yield topped 3.50 percent.

The dollar rose against most other major currencies, while gold fell.

Financial stocks posted some of the biggest losses as an analyst lowered his ratings on some regional banks and as traders worried about what might happen if regulators try to impose rules on the size of financial institutions.

"We're seeing legislation in Washington drive trading," said John Brady, senior vice president of global interest rate products at MF Global in Chicago.

Meanwhile, Rochdale Securities bank analyst Richard Bove lowered his ratings on Fifth Third Bancorp, SunTrust Banks Inc. and US Bancorp. Fifth Third fell 82 cents, or 7.9 percent, to $9.52 and SunTrust slid $1.14, or 5.4 percent, to $19.85. US Bancorp fell 80 cents, or 3.2 percent, to $24.15.

Homebuilder stocks fell as investors tried to determine whether Congress will extend a tax credit for first-time homebuyers. Top Democrats in the Senate pushed for a plan that would continue the credit but phase it out over the next year.

An analyst also cut his estimates on several companies in the industry while warning that most companies won't eke out a small profit until late 2011.

Pulte Homes Inc. fell 38 cents, or 3.8 percent, to $9.70, while Hovnanian Enterprises Inc. slid 23 cents, or 5.4 percent, to $4.07.

Among oil companies, ConocoPhillips sank $1.23, or 2.4 percent, to $50.74.

In other trading, Marvell rose 41 cents, or 2.8 percent, to $14.99, while RadioShack rose $2.49, or 15.9 percent, to $18.15.

The Russell 2000 index of smaller companies fell 7.18, or 1.2 percent, to 593.68.

Overseas markets fell after U.S. stocks dropped. Britain's FTSE 100 fell 1 percent, Germany's DAX index and France's CAC-40 each fell 1.7 percent. Japan's Nikkei stock average rose 0.8 percent.


----------



## bigdog

Source: http://finance.yahoo.com

An aggressive selling effort in the final hour of trade took the stock market from a solid gain to a considerable loss. The downturn was broad based and left many of the major sectors to settle at session lows. 

Stocks had been showing moderate weakness ahead of the opening bell, but jumped out to a strong gain in the early going. The S&P 500 even made its way to a near 1% gain so that it fractionally set a new high for 2009. 

Stocks mostly fell Tuesday as mixed reports on home prices and consumer confidence gave investors little incentive to step into the market.

Rising energy stocks and a decision by IBM Corp. to double its stock-repurchase plan propped up the Dow Jones industrials but the Nasdaq composite index slid after Chinese Internet search company Baidu Inc. warned its revenue could take a hit as it switches its advertising system.

Two stocks fell for every one that rose on the New York Stock Exchange.

*The NYSE DOW closed HIGHER +14.21 points +0.14% on Tuesday October 27*
Sym Last........ ........Change.......... 
Dow 9,882.17 +14.21 +0.14% 
Nasdaq 2,116.09 -25.76 -1.20% 
S&P 500 1,063.41 -3.54 -0.33% 
30-yr Bond 4.2890% -0.0770 

NYSE Volume 6,241,547,000  (prior day 6,478,093,000)
Nasdaq Volume 2,417,001,250  (prior day 2,340,182,000)

Oil 71.50 -0.05 -0.07%
Gold US$/oz 1038.80 -14.15 -1.34%  

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,200.97 +9.23 +0.18% 
DAX 5,635.02 -7.14 -0.13% 
CAC 40 3,743.95 -0.50 -0.01% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,212.46 -150.16 -1.45% 
Hang Seng 22,169.59 -420.14 -1.86% 
Straits Times 2,694.50 -22.12 -0.81% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks mostly fall on mixed data; IBM lifts Dow

Stocks end mostly lower on mixed data on housing, consumers; IBM boosts outlay for buybacks*

By Tim Paradis, AP Business Writer 
On 5:49 pm EDT, Tuesday October 27, 2009 

NEW YORK (AP) -- Stocks mostly fell Tuesday as mixed reports on home prices and consumer confidence gave investors little incentive to step into the market.

Rising energy stocks and a decision by IBM Corp. to double its stock-repurchase plan propped up the Dow Jones industrials but the Nasdaq composite index slid after Chinese Internet search company Baidu Inc. warned its revenue could take a hit as it switches its advertising system.

Two stocks fell for every one that rose on the New York Stock Exchange.

Bond prices rose after strong demand at a government debt auction, signaling that investors are still seeking safety.

Stocks rose at the start of trading following a report that home prices in 20 major metropolitan markets increased for the third straight month in August. The Standard & Poor's/Case-Shiller home price index gained 1 percent in August from July.

However, the gains in home prices couldn't offset worries that consumers might not be in a mood to spend this holiday season. The Conference Board said its Consumer Confidence Index fell unexpectedly to 47.7 in October, its second-lowest reading since May. Analysts predicted a figure of 53.1.

While data on consumer confidence can be volatile, the drop-off still took some of the sheen off corporate profit reports for the July-September quarter, which have been coming in ahead of expectations.

"When I look at the consumer, I think that is the next big test," said Dave Hinnenkamp, chief executive KDV Wealth Management in Minneapolis. "We've passed a big test on the earnings front."

The Dow rose 14.21, or 0.1 percent, to 9,882.17. The broader Standard & Poor's 500 index fell 3.54, or 0.3 percent, to 1,063.41, while Nasdaq fell 25.76, or 1.2 percent, to 2,116.09.

Bond prices rose after a Treasury Department auction of $44 billion in two-year notes drew robust demand. That pushed yields lower. The yield on the two-year note rose fell to 0.94 percent from 1.04 percent late Monday. The yield on the benchmark 10-year Treasury note fell to 3.45 percent from 3.56 percent.

Stocks have fallen for most of the past week on worries about the economy. The Dow dropped 104 points Monday after a similar slide Friday. It was the first consecutive triple-digit loss for the Dow since mid-June.

The drops have come as a strengthening dollar pushed the prices of commodities lower. The dollar mostly rose again Tuesday but didn't dominate trading.

Analysts say the coming days could be choppy as traders look for fuel to extend the market's climb. The down days are welcome by those who say the advance has been too quick. The S&P 500 index is up 57.2 percent since March but down 3.1 percent from the start of last week when it closed at its highest level in more than a year.

The end of the month could also present hurdles. For many mutual funds, the last trading day of their fiscal year is Friday. Fund managers looking to minimize taxes for shareholders could sell some of their investments.

Investors are also looking to the government's first reading on economic output for the third quarter. The report on gross domestic product is due Thursday and could signal an end to the recession that many analysts have said is over, at least officially.

Joe Battipaglia, market strategist for the private client group at Stifel Nicolaus & Co. in Yardley, Pa., said recent economic data don't support arguments for a fast recovery in the economy, nor do they suggest a rebound would be weak enough to push stocks back down to the levels of eight months ago.

"We are in what I would call purgatory right now where the U.S. economy is rather limp," he said.

Crude oil rose 87 cents to settle at $79.55 per barrel on the New York Mercantile Exchange. Gold fell.

IBM, one of the 30 companies that make up the Dow, rose after it added $5 billion to its stock repurchase fund. The total now stands at $9.2 billion. The stock advanced 54 cents, or 0.5 percent, to $120.65.

The rise in oil after a three-day slide helped lift energy stocks and the Dow. Exxon Mobil Corp., which is slated to report earnings Thursday, rose $1.68, or 2.3 percent, to $74.91.

Baidu's American Depositary shares slid $49.31, or 11.4 percent, to $383.66 after it its warning about revenue.

Consolidated volume at the NYSE fell to 5.4 billion shares from 5.7 billion Monday.

The Russell 2000 index of smaller companies slid 6.69, or 1.1 percent, to 586.99.

Britain's FTSE 100 rose 0.2 percent, Germany's DAX index fell 0.1 percent, and France's CAC-40 slipped less than 0.1 percent. Japan's Nikkei stock average fell 1.5 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The S&P 500 closed below its 50-day moving average for the first time since mid-July as sellers moved en masse ahead of tomorrow morning's advance third quarter GDP reading. 

Stocks were mired in weakness for virtually the entire session as buyers stepped to the sidelines despite another batch of generally better-than-expected earnings. Stiff selling in overseas trade certainly didn't help the case for bulls, nor did disappointing new home sales data, which showed that new home sales for September fell 3.6% month-over-month to an annualized rate of 402,000 units. That was well below the rate of 440,000 units that was widely expected. 

Signs of a weaker housing market and a gloomier outlook on the economy gave investors more reasons to dump stocks.

Major market indexes fell by the largest amount in about a month Wednesday after the Commerce Department said new home sales dropped for the first time in five months. Sales slid 3.6 percent in September to 402,000. Analysts had expected an increase.

The Dow Jones industrial average lost 119 points, or 1.2 percent, in its third straight triple-digit drop.

*The NYSE DOW closed LOWER -119.48 points -1.21% on Wednesday October 28*
Sym Last........ ........Change.......... 
Dow 9,762.69 -119.48 -1.21% 
Nasdaq 2,059.61 -56.48 -2.67% 
S&P 500 1,042.63 -20.78 -1.95% 
30-yr Bond 4.2430% -0.0460 

NYSE Volume 7,618,303,000  (prior day 6,241,547,000)
Nasdaq Volume 2,805,304,750  (prior day 2,417,001,250)

Oil 71.50 -0.05 -0.07% 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,080.42 -120.55 -2.32% 
DAX 5,496.27 -138.75 -2.46% 
CAC 40 3,663.78 -80.17 -2.14% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,075.05 -137.41 -1.35%  
Hang Seng 21,761.58 -408.01 -1.84%  
Straits Times 2,648.98 -45.52 -1.69%  

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks slide as new home sales fall

Stocks tumble as new home sales post surprise drop for September; Dow falls 119, Nasdaq slumps*

By Tim Paradis, AP Business Writer 
On 6:05 pm EDT, Wednesday October 28, 2009 

NEW YORK (AP) -- Signs of a weaker housing market and a gloomier outlook on the economy gave investors more reasons to dump stocks.

Major market indexes fell by the largest amount in about a month Wednesday after the Commerce Department said new home sales dropped for the first time in five months. Sales slid 3.6 percent in September to 402,000. Analysts had expected an increase.

The Dow Jones industrial average lost 119 points, or 1.2 percent, in its third straight triple-digit drop.

The Nasdaq composite index fell 2.7 percent, while the Russell 2000 index of smaller companies tumbled 3.5 percent. Many of the stocks in both indexes are considered more risky in a tough economy and so they suffered some of the biggest losses.

The retreat came as Goldman Sachs Group Inc. reduced its expectation for the nation's economic output for the July-September period. Goldman Sachs predicts third-quarter gross domestic product rose at an annual rate of 2.7 percent, weaker than its earlier forecast of 3 percent.

The government's report on third-quarter GDP is due Thursday. Economists are looking for growth at an annual rate of 3.3 percent after a record four straight quarters of contraction.

The day's slide signaled that investors were reassessing their hopes for a recovery in the economy. Demand for safe-havens like Treasurys rose as did shares of companies whose business is expected to fare better in a slump. Stocks of consumer staples companies like Procter & Gamble Co., which makes Tide detergent and Gillette razors, edged higher.

Energy, financial and retail stocks posted some of the biggest losses.

Analysts said the market's slide in the past week isn't surprising given the size of the advance in the past eight months and mixed economic readings.

"I'm not panicked at the moment," said Manny Weintraub, president of Integre Advisors in New York. "I don't think anyone expected a super robust recovery."

Stocks struggled Tuesday after a disappointing report on consumer confidence stirred worries about the strength of the coming holiday shopping period.

Wednesday's drop was the biggest for stocks since Oct. 1, when traders grappled with worries about jobs and manufacturing.

The Dow fell 119.48, or 1.2 percent, to 9,762.69. The index is down in five of the past seven days.

Broader indexes fell for a fourth straight day, the longest streak of losses in about a month.

The Standard & Poor's 500 index slid 20.78, or 2 percent, to 1,042.63. The Nasdaq dropped 56.48, or 2.7 percent, to 2,059.61.

The Russell 2000 index fell 20.63, or 3.5 percent, to 566.36.

At the New York Stock Exchange 2,777 stocks fell, while 322 rose. Consolidated volume came to 6.7 billion shares compared with 5.4 billion Tuesday.

Overseas markets also tumbled.

Bill Schultz, chief investment officer at McQueen, Ball & Associates in Bethlehem, Pa., said investors are looking at the latest data and worrying that the market has risen too much in anticipation of a recovery. The S&P 500 index is up 54.1 percent from a 12-year low in March, though it is down 5 percent since the start of last week, when it finished at its highest level in more than a year.

The biggest slide since the market began rebounding eight months ago was a 7 percent slide from mid-June to mid-July.

"You're starting to see some trepidation about how we move forward," Schultz said. He said the market is likely to stall without improvements in how much revenue companies bring in and better readings on unemployment.

With about half the companies in the S&P 500 index having reported third-quarter results, revenue is down 7.5 percent, according Thomson Reuters. The unemployment rate stands at 9.8 percent and is expected to top 10 percent.

A strengthening dollar has weighed on commodities prices. That has hurt stocks. The ICE Futures US dollar index rose for a fifth straight day Wednesday, its longest advance since the start of July.

Bond prices rose as investors sought safety. That sent yields lower. The yield on the benchmark 10-year Treasury note fell to 3.42 percent from 3.45 percent late Tuesday.

Crude oil fell $2.09 to settle at $77.46 per barrel on the New York Mercantile Exchange. Gold fell.

The drop in oil weighed on shares of energy companies. Oilfield services company Schlumberger Ltd. fell $2.66, or 4.1 percent, to $62.27.

Financial stocks fell after GMAC Financial Services brought reminders of troubles still hitting many lenders. The former financing arm of General Motors Co. is in talks with the Treasury Department for a third bailout. The company has been among the financial firms hardest hit by rising loan defaults and troubled credit markets. The government holds a 35 percent stake in GMAC after giving it $12.5 billion in bailout money.

Home builders fell after the sales data. Hovnanian Enterprises Inc. slid 41 cents, or 9.5 percent, to $3.89. Toll Brothers Inc. fell 99 cents, or 5.5 percent, to $16.95.

The drop in new home sales follows a report from the National Association of Realtors last week that sales of existing home posted the biggest increase in 26 years in September. Some buyers were trying to get ahead of a tax credit set to expire.

Britain's FTSE 100 fell 2.3 percent, Germany's DAX index fell 2.5 percent, and France's CAC-40 slid 2.1 percent. Japan's Nikkei stock average fell 1.4 percent.


----------



## bigdog

Source: http://finance.yahoo.com

A better-than-expected third quarter GDP reading helped the stock market snap back from its worst loss in weeks, but it wasn't enough to prevent stocks from heading into Friday with a week-to-date loss in excess of 1%. 

Despite some wavering in the first few minutes of trade, stocks put together a steady ascent that took all 10 major sectors higher. The broad-based gains stemmed from news that third quarter GDP surged to an annualized growth rate of 3.5%. GDP was expected to increase 3.2% after contracting 0.7% in the second quarter. 

Stocks logged their best day in three months as investors rushed into the market on word the economy grew faster than expected during the summer.

The Dow Jones industrial average jumped 200 points Thursday to recoup most of its losses for the week, while demand for safe-haven holdings like Treasurys wilted.

The Commerce Department's report that gross domestic product rose at an annual rate of 3.5 percent in the third quarter reinvigorated investors who had dumped stocks for much of the week on signs of a slowing housing market and a disappointing report on consumer confidence.

*The NYSE DOW closed HIGHER +199.89 points +2.05% on Thursday October 29*
Sym Last........ ........Change.......... 
Dow 9,962.58 +199.89 +2.05% 
Nasdaq 2,097.55 +37.94 +1.84% 
S&P 500 1,066.11 +23.48 +2.25% 
30-yr Bond 4.3450% +0.1020 

NYSE Volume 6,571,752,500  (prior day 7,618,303,000)
Nasdaq Volume 2,342,304,250 (prior day 2,805,304,750)

Oil 71.50 -0.05 -0.07% 
Gold US$/oz 1044.55 +17.70 +1.72% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,137.72 +57.30 +1.13% 
DAX 5,587.45 +91.18 +1.66% 
CAC 40 3,714.02 +50.24 +1.37% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,891.10 -183.95 -1.83%  
Hang Seng 21,264.99 -496.59 -2.28%  
Straits Times 2,632.31 -16.67 -0.63% 

http://finance.yahoo.com/news/Inves...0.html?x=0&sec=topStories&pos=1&asset=&ccode=

Investors rush back into stocks as economy grows

Stocks jump as better-than-expected GDP report rouses investors; Dow industrials jump 200

By Sara Lepro and Tim Paradis, AP Business Writers 
On 6:16 pm EDT, Thursday October 29, 2009 

NEW YORK (AP) -- Stocks logged their best day in three months as investors rushed into the market on word the economy grew faster than expected during the summer.

The Dow Jones industrial average jumped 200 points Thursday to recoup most of its losses for the week, while demand for safe-haven holdings like Treasurys wilted.

The Commerce Department's report that gross domestic product rose at an annual rate of 3.5 percent in the third quarter reinvigorated investors who had dumped stocks for much of the week on signs of a slowing housing market and a disappointing report on consumer confidence.

The economic growth came in ahead of the 3.3 percent rise forecast by economists polled by Thomson Reuters. It was the strongest growth in two years and broke four straight quarters of declines. Coming on the 80th anniversary of the stock market crash that triggered the Great Depression, it was the best indication yet that the longest recession since then has ended.

But many analysts caution that it will be hard to sustain the growth at the pace seen in the third quarter.

Government stimulus programs including the popular Cash for Clunkers auto rebates and tax credits for first-time home buyers bolstered the economy. Once the government's stimulus measures run their course, the economy could run afoul of lingering problems such as high unemployment and weak consumer spending.

"I don't think that at this point in the rebound that the economy would be self-sustainable," said Jason D. Pride, director of research at Haverford Investments in Philadelphia. "The only way to have effective sustained economic growth is to have job growth, but it tends to come later."

Analysts say the recovery is likely to be bumpy as consumers try to pay down debt and credit for small businesses remains tight.

But such concerns were pushed aside Thursday.

The Dow Jones industrial average rose 199.89, or 2.1 percent, to 9,962.58. It was the best day for the Dow since July 15.

The broader Standard & Poor's 500 index rose 23.48, or 2.3 percent, to 1,066.11, while the Nasdaq composite index rose 37.94, or 1.8 percent, to 2,097.55.

Bond prices fell, pushing their yields higher. The yield on the benchmark 10-year Treasury note rose to 3.50 percent from 3.42 percent late Wednesday. Bonds extended their early losses after a lackluster auction of seven-year notes.

The ICE Futures US dollar index, which measures the dollar against other major currencies, fell after five straight days of gains. The weaker dollar made commodities more attractive for foreign buyers. Gold rose $16.60 to $1,047.10 an ounce on the New York Mercantile Exchange, while crude oil soared $2.41 to settle at $79.87 a barrel.

Mitch Schlesinger, a managing partner at FBB Capital Partners in Bethesda, Md., said that because of government support, fourth-quarter GDP should provide a better picture of how much the economy has recovered.

"Some of the artificial goosing of the numbers will come out and we'll get a better picture," Schlesinger said. He added that the economy is likely to grow in the fourth quarter, but probably not at as fast a pace as the third quarter.

In the interim, however, investors will welcome the better-than-expected third quarter report, he said.

Other economic news was mixed. The number of people claiming jobless benefits for the first time dropped less than expected last week. The Labor Department said workers filing first-time claims for unemployment dipped 1,000 to a seasonally adjusted 530,000 last week. Economists expected a larger decline to 521,000.

However, the number of people receiving unemployment benefits on an ongoing basis dropped sharply by 148,000 to 5.8 million, below economists' expectations.

Unemployment and consumer spending remain the economy's biggest hurdles. Analysts said the market's renewed confidence following Thursday's GDP report could easily be shaken by the government's monthly employment report or retail sales, especially as the crucial holiday shopping season approaches.

In earnings news, Motorola Inc. shares climbed nearly 10 percent after the cell phone maker posted its second straight quarterly profit following months of heavy losses. The stock rose 78 cents to $8.74.

Five stocks rose for every one that fell on the New York Stock Exchange, where volume came to 5.7 billion shares compared with 6.7 billion Wednesday.

The Russell 2000 index of smaller companies rose 13.86, or 2.5 percent, to 580.22.

Overseas, Britain's FTSE 100 rose 1.1 percent, Germany's DAX index rose 1.7 percent and France's CAC-40 gained 1.4 percent. Japan's Nikkei stock average fell 1.8 percent.


----------



## bigdog

Source: http://finance.yahoo.com

*For the week, 
- the Dow fell 2.6 percent, its worst since mid-June. 
- The S&P 500 index fell 5.1 percent, its biggest drop since mid-May. It lost 2 percent for October.  
- The Nasdaq fell 5.1 percent for the week and 3.6 percent for October.*

The heady gains that followed a better-than-expected GDP headline number in the previous session proved unsustainable as sellers returned to action Friday to send stocks sharply lower. Losses were broad-based as nearly 95% of the issues in the S&P 500 logged losses, which contributed to the worst weekly loss in five months for the broad market measure. 

Financials were the worst hit of the major sectors. They had actually helped lead broad-market gains in the previous session, but plummeted to a 4.8% loss this time around. Within the sector, life and health insurers shed 6.1%. Diversified financial services stocks dropped 6.3%. 

Grim signals about consumer spending ripped through the markets Friday, sending stocks tumbling as investors raced for safe havens.

The Standard & Poor's 500 index and the Nasdaq composite index ended with losses for October, breaking a streak of seven months of gains. The Dow Jones industrial average tumbled 250 points, erasing a 200-point gain Thursday and ending the month flat.

Drops in key barometers of the health of consumers -- what they're spending, what they're earning and how they're feeling -- fanned worries that an economic recovery celebrated by the market only a day earlier won't last.

*The NYSE DOW closed LOWER -249.85 points -2.51%  on Friday October 30*
Sym Last........ ........Change.......... 
Dow 9,712.73 -249.85 -2.51% 
Nasdaq 2,045.11 -52.44 -2.50% 
S&P 500 1,036.19 -29.92 -2.81% 
30-yr Bond 4.2360% -0.1090 

NYSE Volume 7,967,117,500  (prior day 6,571,752,500)
Nasdaq Volume 2,699,229,500  (prior day 2,342,304,250)

Oil 71.50 -0.05 -0.07% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,044.55 -93.17 -1.81% 
DAX 5,414.96 -172.49 -3.09% 
CAC 40 3,607.69 -106.33 -2.86% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,034.74 +143.64 +1.45% 
Hang Seng 21,752.87 +487.88 +2.29% 
Straits Times 2,651.13 +18.82 +0.71% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks swoon as worries about the economy return

Stocks slump a day after euphoric rise and are flat for the month; Dow plunges 250*

By Sara Lepro and Tim Paradis, AP Business Writers 
On 6:07 pm EDT, Friday October 30, 2009 

NEW YORK (AP) -- Grim signals about consumer spending ripped through the markets Friday, sending stocks tumbling as investors raced for safe havens.

The Standard & Poor's 500 index and the Nasdaq composite index ended with losses for October, breaking a streak of seven months of gains. The Dow Jones industrial average tumbled 250 points, erasing a 200-point gain Thursday and ending the month flat.

Drops in key barometers of the health of consumers -- what they're spending, what they're earning and how they're feeling -- fanned worries that an economic recovery celebrated by the market only a day earlier won't last.

The huge reversal in market sentiment from the day before reflected how desperate stock investors are to reach conclusions about how the economy is doing, and how quickly they are willing to abandon those convictions.

The about-face from Thursday to Friday in the S&P 500 index, the most widely used indicator by investing professionals and the benchmark for many mutual funds, was the sharpest swing for the index since February.

"I think you have a market that is ultimately looking for its direction," said Bob Froehlich, senior managing director at Hartford Financial Services. "We really are at the inflection point. You tend to have an overreaction to both extremes."

A day after a euphoric rally pushed stocks up the largest amount in three months, on Friday investors fretted that strapped consumers won't be able to carry on a recovery in the economy that has been driven by government spending and companies boosting profits by slashing costs.

The heaviest selling came in areas that have been stalwarts of the market's powerful climb since March: financials, technology, energy and industrials. The safest areas, like health care, consumer staples and utilities, fared somewhat better.

Investors fled to safer assets like the dollar and Treasurys.

The Dow fell 249.85, or 2.5 percent, to 9,712.73. It was the Dow's biggest one-day percentage drop since July 2 and left the index with a gain of 0.005 percent for the month.

The broader S&P 500 index fell 29.92, or 2.8 percent, to 1,036.19, its biggest percentage loss since July 2. The Nasdaq dropped 52.44, or 2.5 percent, to 2,045.11.

Six stocks fell for every one that rose on the New York Stock Exchange, a virtual reversal of the tide that swept stocks higher Thursday when the government said the economy grew faster than expected in the summer.

Indicators of investor skittishness surged. The Chicago Board Options Exchange's Volatility Index, known as the market's fear gauge, soared nearly 25 percent to its highest level since July.

Stocks began skidding after the Labor Department said personal spending fell 0.5 percent in September. The drop was in line with forecasts, but it was also the largest slide in nine months and followed a 1.3 percent jump in August fueled by the government's popular Cash for Clunkers car rebate program.

The government also said that personal income, the fuel for future spending, was flat in September compared with the previous month.

A drop in the mood of consumers added to the day's bad news. The Reuters/University of Michigan consumer sentiment index fell to 70.6 in October from 73.5 in September. The reading was revised higher from an early estimate and was roughly in line with expectations.

"Until we get to better employment numbers, it's hard to get real income growth and real spending ... and we're just not there yet," said Kurt Karl, chief US economist at Swiss Re.

Friday was the end of the fiscal year for many mutual funds. Fund managers often sell some investments to minimize taxes for shareholders.

Bank stocks were hardest hit as investors worried about the fate of commercial lender CIT Group Inc. Billionaire investor and bondholder Carl Icahn agreed to support the company's restructuring plan and provide it with a $1 billion line of credit, but investors are still worried that the company could file for bankruptcy protection. The stock tumbled 24 percent.

For the week, the Dow fell 2.6 percent, its worst since mid-June. The S&P 500 index fell 5.1 percent, its biggest drop since mid-May. It lost 2 percent for October.

The Nasdaq fell 5.1 percent for the week and 3.6 percent for October.

On the New York Mercantile Exchange, gold fell, while oil tumbled $2.38 to $77.49 a barrel.

Bond prices surged, pushing their yields lower. The yield on the benchmark 10-year Treasury note fell to 3.39 percent from 3.50 percent late Thursday.

Stocks have fallen for most of the past week as worries about the economy escalated. Without stronger evidence that the labor market is improving and consumers are feeling more comfortable about spending, investors will likely have trouble extending the market's gains.

Trading is likely to remain volatile in the coming week amid a flood of major economic news, including the Institute of Supply Management's readings on the manufacturing and services industries, sales reports from major retailers and the Labor Department's October employment report -- arguably the month's most important piece of economic data. The Federal Reserve will also convene for a two-day policy meeting beginning Tuesday.

Volume at the New York Stock Exchange came to 1.7 billion shares compared with 1.6 billion Thursday.

In other trading, the Russell 2000 index of smaller companies fell 17.45, or 3 percent, to 562.77.

Overseas, Britain's FTSE 100 fell 1.8 percent, Germany's DAX index dropped 3.1 percent, and France's CAC-40 lost 2.9 percent. Japan's Nikkei stock average rose 1.5 percent.

101


----------



## bigdog

Source: http://finance.yahoo.com

Better-than-expected economic data helped the S&P 500 ascend to a 1.5% gain, but a bout of selling and technical resistance sent stocks to a 0.7% loss before buyers stepped back in to drive stocks to a positive finish. 

News that the ISM Manufacturing Index for October came in at 55.7, construction spending in September spiked 0.8%, and pending home sales for September made a 6.1% monthly increase helped bring about some early, broad-based buying, which sent all 10 major S&P 500 sectors into the green. 

Financials were a standout as the sector climbed to a 2.5% gain. Investors in the sector paid little attention to news that regional lender CIT Group will enter bankruptcy after weeks of struggling to secure financing and put together a plan for sustainability. 

After months on hiatus, volatility is back on Wall Street.

Stocks ended higher Monday after another day of big swings. Stronger reports on manufacturing and housing gave the market an early boost but a rise in the dollar and worries about the soundness of an eight-month rally chipped away at the gains. A late surge left the Dow Jones industrial average with a gain of 77 points but still down by about half from its best levels of the day.

After nearly unbreakable gains since midsummer, trading has become much rockier in recent weeks as investors worry that the pace of the economic recovery they have been counting on will be hard to maintain.

*The NYSE DOW closed HIGHER +76.71 points +0.79% on Monday November 2*
Sym Last........ ........Change.......... 
Dow 9,789.44 +76.71 +0.79% 
Nasdaq 2,049.20 +4.09 +0.20% 
S&P 500 1,042.88 +6.69 +0.65% 
30-yr Bond 4.2680% +0.0320  

NYSE Volume 7,358,303,000  (prior day 7,967,117,500)
Nasdaq Volume 2,429,651,250  (prior day 2,699,229,500)

Oil 71.50 -0.05 -0.07% 
Gold US$/oz 1059.35 +14.95 +1.43%

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,104.50 +59.50 +1.18% 
DAX 5,430.82 +15.86 +0.29% 
CAC 40 3,639.46 +31.77 +0.88% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,802.95 -231.79 -2.31%  
Hang Seng 21,620.19 -132.68 -0.61%  
Straits Times 2,645.43 -5.70 -0.22% 

http://finance.yahoo.com/news/Volat...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Volatility returns to markets, pulls Dow off highs

Stocks end higher after jumpy trading; economic data don't quiet worries about pace of gains*

By Sara Lepro and Tim Paradis, AP Business Writers 
On 5:47 pm EST, Monday November 2, 2009 

NEW YORK (AP) -- After months on hiatus, volatility is back on Wall Street.

Stocks ended higher Monday after another day of big swings. Stronger reports on manufacturing and housing gave the market an early boost but a rise in the dollar and worries about the soundness of an eight-month rally chipped away at the gains. A late surge left the Dow Jones industrial average with a gain of 77 points but still down by about half from its best levels of the day.

After nearly unbreakable gains since midsummer, trading has become much rockier in recent weeks as investors worry that the pace of the economic recovery they have been counting on will be hard to maintain.

Jittery traders have pushed the market around in ways more reminiscent of the huge swings of a year ago than the smoother advance stocks have seen since the early spring. The Dow has gained or lost more than 100 points in six out of the last seven days. The last time the Dow has as long a streak of triple-digit moves was in late March, shortly after major stock indexes bounced off 12-year lows.

Good news can still lift the market, but those gains are now less likely to hold than they were earlier in the year. The market jumped last Thursday after the government reported the economy grew at a 3.5 percent pace in the July-September quarter, well ahead of expectations.

But that enthusiasm faded quickly as many noted that much of the growth came from government spending programs which are winding down. Likewise, many companies are reporting stronger than expected earnings, but in many cases the gains came from cost-cutting instead of higher sales. On Friday the Dow slumped nearly 250 points as those worries deepened, more than erasing the 200-point gain from the day before.

Analysts say many investors still expect the economy to improve but are worried it won't happen as quickly as they had hoped. The signs of investor anxiety are clear. The Chicago Board Options Exchange's Volatility Index, known as Wall Street's fear gauge, crept up to 31.84 Monday -- a fresh four-month high before ending at 29.78.

"It's a flip of a coin right now," said Jeffrey Frankel, president of Stuart Frankel & Co. "You never know what you're going to get the next day when you come in to work."

As the market heads into the final months of the year, investors are trying to determine whether the bets they've been placing on a rebound in the economy over the past several months have been overdone. Even with a 2 percent loss in the Standard & Poor's 500 in October, the index is still up 54.2 percent from a 12-year low in March.

"The question is, is the trend changing?" said Jim Dunigan, managing executive of investments at PNC Wealth Management.

Trading is likely to be volatile throughout the week as investors sift through a flood of economic data, including the government's monthly employment report on Friday, that will offer a glimpse at the fourth quarter. The Federal Reserve will also weigh in on the economy after a two-day policy meeting on Wednesday.

On Monday, the Dow rose 76.71, or 0.8 percent, to 9,789.44, its fourth gain in 10 days. The broader Standard & Poor's 500 index rose 6.69, or 0.7 percent, to 1,042.88, and the Nasdaq composite index rose 4.09, or 0.2 percent, to 2,049.20.

The seesaw trade came after the Institute for Supply Management said manufacturing activity grew in October at the fastest pace since April 2006 and much better than expected. Meanwhile, the National Association of Realtors said pending home sales increased for the eighth straight month in September, also topping expectations.

Separately, the Commerce Department said construction spending increased 0.8 percent in September, matching the gain in August. Economists had been expecting a drop.

The reports goosed stocks higher in the morning but weren't enough to hold the gains through the afternoon as the dollar rose against other major currencies. That hurt commodity prices and exporters.

Financial stocks faltered briefly after Jon D. Greenlee, the Federal Reserve's associate director for banking supervision and regulation, told lawmakers that "significant stress and weaknesses" remain in the financial system and that banks face more heavy losses on loans.

Citigroup Inc. fell below $4 for the first time since August, giving up 10 cents, or 2.4 percent, to $3.99.

Investors also found optimistic news. Ford Motor Co. surprised investors by reporting that deep cost cuts and the government's Cash for Clunkers rebates helped it earn nearly $1 billion in the third quarter. The stock jumped 58 cents, or 8.3 percent, to $7.58.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where volume came to 1.5 billion shares, compared with 1.7 billion Friday.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.43 percent from 3.39 percent late Friday.

Oil rose $1.13 to settle at $78.13, while gold rose on the New York Mercantile Exchange.

In other trading, the Russell 2000 index of smaller companies fell 5.22, or 1 percent, to 557.55.

Overseas, Japan's Nikkei stock average dropped 2.3 percent. Britain's FTSE 100 rose 0.9 percent, Germany's DAX index added 0.2 percent, and France's CAC-40 rose 0.8 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Despite a stronger dollar and some sloppy action, the S&P 500 was able to net a modest gain in Tuesday's trade. 

Stocks had started the session in negative territory as the U.S. dollar gained ground against a basket of major foreign currencies and drove the Dollar Index up almost 0.8% to a near one-month high. In the face of broader market weakness and a stronger greenback, materials stocks (+1.2%) were able to make strong gains as gold prices raced higher. 

Investors sidestepped some of their doubts about the economy and bought energy and industrial stocks as commodity prices rose.

Stocks ended back-and-forth trading mostly higher Tuesday as a spike in the price of gold and corporate dealmaking extended an advance from Monday. The gains in commodity prices helped stocks pare early losses.

The Dow Jones industrial average slipped 18 points, while broader indexes rose.

*The NYSE DOW closed LOWER -17.53 points -0.18% on Tuesday November 3*
Sym Last........ ........Change.......... 
Dow 9,771.91 -17.53 -0.18% 
Nasdaq 2,057.32 +8.12 +0.40% 
S&P 500 1,045.41 +2.53 +0.24% 
30-yr Bond 4.3370% +0.0690 

NYSE Volume 6,209,331,500  (prior day 7,358,303,000)
Nasdaq Volume 2,040,231,750  (prior day 2,429,651,250)

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,037.21 -67.29 -1.32% 
DAX 5,353.35 -77.47 -1.43% 
CAC 40 3,584.25 -55.21 -1.52% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,802.95 closed for holiday 
Hang Seng 21,240.06 -380.13 -1.76%  
Straits Times 2,621.55 -23.88 -0.90% 

http://finance.yahoo.com/news/Risin...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Rising commodity prices lift stocks

Stocks mostly rise as commodity prices gain; Buffett's move on Burlington lifts railroads*

By Sara Lepro and Tim Paradis, AP Business Writers 
On 4:34 pm EST, Tuesday November 3, 2009 

NEW YORK (AP) -- Investors sidestepped some of their doubts about the economy and bought energy and industrial stocks as commodity prices rose.

Stocks ended back-and-forth trading mostly higher Tuesday as a spike in the price of gold and corporate dealmaking extended an advance from Monday. The gains in commodity prices helped stocks pare early losses.

The Dow Jones industrial average slipped 18 points, while broader indexes rose.

Investors drew some comfort from billionaire investor Warren Buffett's decision to pay $100 a share for Burlington Northern Santa Fe in a deal valuing the railroad at $34 billion. Meanwhile, tool maker Stanley Works struck a deal to acquire Black & Decker Corp. for $3.46 billion in stock.

Commodities rose broadly and gold jumped to a new high after India's central bank bought $6.7 billion worth of gold from the International Monetary Fund.

Even with the gains in commodities, traders remained on edge about unemployment and the overall strength of an economic recovery.

Health care products maker Johnson & Johnson said it would cut up to 7 percent of its global work force and streamline its business structure to save up to $900 million next year.

Financial stocks fell after the Royal Bank of Scotland got a $41 billion infusion from the U.K. government.

Traders have been uneasy in recent weeks, wary about whether the economic recovery can maintain the same pace once government stimulus measures are removed. That uncertainty has led to wild swings in the market. The Dow has risen or fallen more than 100 points in six of the last eight trading days, the most volatility since March.

Analysts said a break in the advance could ease worries that the market has run too far.

"This is a much-needed healthy pause and reassessment. It ran so far," said David Darst, chief investment strategist for Morgan Stanley Smith Barney in New York.

According to preliminary calculations, the Dow fell 17.53, or 0.2 percent, to 9,771.91, after being down as much as 86 points. The Dow rose 77 points Monday following reports of improvements in manufacturing and housing.

The broader Standard & Poor's 500 index rose 2.53, or 0.2 percent, to 1,045.41. The Nasdaq composite index rose 8.12, or 0.4 percent, to 2,057.32.

"We're seeing a natural ebb and flow of risk appetite," said Kevin Gardiner, head of investment strategy for Europe, Middle East and Africa at Barclays Wealth.

Analysts expect trading to be choppy this week, as investors digest a frenzy economic reports that include the government's employment report for October on Friday. Investors are watching the Federal Reserve, which concludes a two-day meeting on interest rates Wednesday, for any clues about the economy and the direction of interest rates.

A rise in factory orders wasn't enough to boost sentiment. The Commerce Department said orders to U.S. factories rebounded in September after dropping in August. Orders rose 0.9 percent in September amid increases in orders for autos, heavy machinery and military aircraft. Analysts had expected an increase of 0.8 percent, according to Thomson Reuters.

Investors also looked past increases in automobile sales last month. Ford Motor Co. said sales rose 3 percent from October last year, while General Motors Corp.'s sales rose 4 percent. It was the first monthly sales increase for the nation's largest automaker since January 2008. Meanwhile, Chrysler's sales fell 30 percent.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.48 percent from 3.42 percent late Monday.

The dollar was mixed against other major currencies.

Crude oil rose $1.47 to settle at $79.60 a barrel on the New York Mercantile Exchange, while gold surged to a new high of $1,082.20 an ounce.

Shares of Burlington Northern jumped $20.93, or 27.5 percent, to $97 after Buffett's move.

That pulled other railroads higher. CSX Corp. rose $3.13, or 7.3 percent, to $45.97, while Norfolk Southern Corp. advanced $2.52, or 5.4 percent, to $49.15.

Black & Decker jumped $14.66, or 30.1 percent, to $62, while Stanley Works rose $4.54, or 10.1 percent, to $49.69.

Johnson & Johnson fell 56 cents, or 0.9 percent, to $58.93.

Royal Bank of Scotland fell 69 cents, or 5.5 percent, to $11.96.

The Russell 2000 index of smaller companies rose 8.22, or 1.5 percent, to 570.62.

Three stocks rose for every two that fell on the New York Stock Exchange, where volume came to 1.4 billion shares compared with 1.5 billion Monday.

Overseas, Britain's FTSE 100 fell 1.3 percent, Germany's DAX index fell 1.4 percent, and France's CAC-40 dropped 1.5 percent. Markets in Japan were closed for a holiday.


----------



## bigdog

Source: http://finance.yahoo.com

*Stocks give up gains in last hour, finish mixed*

The latest FOMC policy statement and a weaker dollar helped bolster buying in stocks, but some late selling caused stocks to rollover in the final hour and close near the neutral line. 

The major indices started the session in higher ground as participants responded to strong overseas gains and a downturn in the U.S. dollar. Gains among the major indices were both broad and strong. 

A late-day slump left stocks mixed Wednesday as investors couldn't hold on to their optimism after the Federal Reserve gave an encouraging assessment of the economy.

The Dow Jones industrial average, up more than 150 points after the Fed described the economy as showing more signs of recovery, closed up 30. The broader indexes were narrowly mixed.

Stocks could get a lift Thursday from Cisco Systems Inc., which reported posted better quarterly earnings and sales than expected after the closing bell. John Chambers, CEO of the maker of computer-networking gear, struck an optimistic tone in a conference call with analysts and said orders continue to rebound.

*The NYSE DOW closed HIGHER +30.23 points +0.31% on Wednesday November 4*
Sym Last........ ........Change.......... 
Dow 9,802.14 +30.23 +0.31% 
Nasdaq 2,055.52 -1.80 -0.09% 
S&P 500 1,046.50 +1.09 +0.10% 
30-yr Bond 4.4340% +0.0970 

NYSE Volume 6,510,282,000  (prior day 6,209,331,500)
Nasdaq Volume 2,238,700,250  (prior day 2,040,231,750)

Oil 80.15 +0.55 +0.69% 
Gold 1,092.40 +8.10 +0.75% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,107.89 +70.68 +1.40% 
DAX 5,444.23 +90.88 +1.70% 
CAC 40 3,670.33 +86.08 +2.40% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,844.31 +41.36 +0.42%  
Hang Seng 21,614.77 +374.71 +1.76%  
Straits Times 2,648.64 +27.09 +1.03% 
http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks give up gains in last hour, finish mixed

Stocks give up gains in last hour, finish mixed after Fed meeting, credit card vote*

By Sara Lepro and Tim Paradis, AP Business Writers 
On 5:27 pm EST, Wednesday November 4, 2009 

NEW YORK (AP) -- A late-day slump left stocks mixed Wednesday as investors couldn't hold on to their optimism after the Federal Reserve gave an encouraging assessment of the economy.

The Dow Jones industrial average, up more than 150 points after the Fed described the economy as showing more signs of recovery, closed up 30. The broader indexes were narrowly mixed.

Stocks could get a lift Thursday from Cisco Systems Inc., which reported posted better quarterly earnings and sales than expected after the closing bell. John Chambers, CEO of the maker of computer-networking gear, struck an optimistic tone in a conference call with analysts and said orders continue to rebound.

Analysts couldn't point to any one reason why stocks gave up their gains late Wednesday, although some said the market is increasingly nervous as the release of the government's October jobs report on Friday approaches. Financial stocks fell especially hard in the last hour of trading after a House vote to speed up the effective date of limits on credit card companies, and added to the overall market's pullback.

The Fed, as expected, left its benchmark interest rate unchanged at a record low of essentially zero and said the economy is slowly rebounding. Its announcement followed reports on service industries and employment that eased two of the biggest worries about the economy.

The Fed's statement accompanying its rate decision noted that housing activity has picked up in recent months. It also said consumer spending, while still constrained by unemployment and other problems, appears to be growing.

Policymakers said they would keep interest rates low for an "extended period" and said inflation is likely to remain tame. That eased some worries that rising prices would force the Fed to boost interest rates and risk cutting off a nascent recovery in the economy.

But, as often happens after Fed meetings, stocks were unable to hold their gains. The Fed statement, while more upbeat than in recent months, did note that there are ongoing job losses. And investors were well aware that the Labor Department's October jobs report is just two days away.

Jonathan Corpina, president of Meridian Equity Partners in New York, said investors took the Fed's statement as a sign that the central bank isn't convinced that a lasting economic recovery is under way.

"The Fed is talking about recurring job losses, sluggish incomes and housing prices not moving. So we have to remember that there are things out there that are still holding the economy back," he said.

Meanwhile, the House approved new rules for credit card companies unless lenders agree to freeze interest rates and fees. The vote would move up the February effective date of legislation already passed by Congress that limits what banks can charge for credit cards.

It didn't appear likely that the Senate would also pass the measure, but the House vote still sent financial stocks falling. And when bank stocks fall, the rest of the market tends to follow.

The Dow rose 30.23, or 0.3 percent, to 9,802.14. It had been up as much as 156 after the Fed announcement.

The broader Standard & Poor's 500 index rose 1.09, or 0.1 percent, to 1,046.50. The Nasdaq composite index fell 1.80, or 0.1 percent, to 2,055.52.

Winning stocks were ahead of losers by 8 to 7 on the New York Stock Exchange, where volume came to 1.4 billion shares, in line with Tuesday.

Michael Sheldon, chief market strategist at RDM Financial Group in Westport, Conn., said investors grew nervous ahead of the employment report and that traders also worried when the S&P 500 index moved below the level of 1,053 -- its average of the past 50 days.

"Once it became apparent that the market wasn't going to close above its 50-day moving average investors sold and moved to the sidelines," he said.

Investors have grown fearful that the economic rebound they've been betting on over the past eight months will be fleeting, considering that job losses remain high and consumers still aren't spending freely. Stocks have zigzagged over the past few weeks amid the heightened uncertainty.

The day's economic reports bolstered hopes that consumers could increase consumer spending, a critical factor for an economic recovery.

The Institute for Supply Management said service industry activity grew for a second straight month in October. The trade group's service index slipped to 50.6 from 50.9 in September. A reading above 50 signals growth.

The ADP National Employment Report said 203,000 private sector jobs were lost in October, down from the 227,000 lost in September. It was the seventh straight month of declining job losses. That stirred hopes for a better-than-expected employment report Friday.

Shares of Cisco advanced 35 cents, or 1.5 percent, to $23.30 by the closing bell and rose 3.5 percent in after-hours trading.

The dollar fell against other major currencies, helping to send commodities prices higher.

Gold rose as high as $1,096.50 an ounce. Crude oil added 80 cents to $80.40 a barrel on the New York Mercantile Exchange as the government said U.S. crude supplies fell more than expected.

Britain's FTSE 100 rose 1.4 percent, Germany's DAX index gained 1.7 percent, and France's CAC-40 jumped 2.4 percent. Japan's Nikkei stock average rose 0.4 percent.


----------



## bigdog

Source: http://finance.yahoo.com

*The Dow Jones industrial average jumped 200 points Thursday to its first close above 10,000 in two weeks*

Broad-based buying on the back of a strong quarterly report from Cisco and a couple of pleasing economic reports helped stocks net robust gains ahead of tomorrow's potentially pivotal nonfarm payrolls report.

A drop in unemployment claims and an upbeat forecast from Cisco Systems Inc. gave investors a jolt of confidence a day before a key government report on jobs.

The Dow Jones industrial average jumped 200 points Thursday to its first close above 10,000 in two weeks, while the Nasdaq composite index led major indexes with a gain of 2.4 percent after Cisco, the maker of computer-networking gear, predicted its revenue would grow.

The Labor Department said the number of newly laid-off workers seeking unemployment benefits fell to 512,000 last week, the lowest level since January and fewer than economists had forecast. Initial claims are considered a gauge of the pace of layoffs.

*The NYSE DOW closed HIGHER +203.82 points +2.08% on Thursday November 5*
Sym Last........ ........Change.......... 
Dow 10,005.96 +203.82 +2.08% 
Nasdaq 2,105.32 +49.80 +2.42% 
S&P 500 1,066.63 +20.13 +1.92% 
30-yr Bond 4.4120% -0.0220 

NYSE Volume 5,695,214,000  (prior day 6,510,282,000)
Nasdaq Volume 2,257,181,750  (prior day 2,238,700,250)

Oil 79.73 -0.67 -0.83% 
Gold 1,090.60 +3.90 +0.36%

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,125.64 +17.75 +0.35% 
DAX 5,480.92 +36.69 +0.67% 
CAC 40 3,708.73 +38.40 +1.05%  


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,717.44 -126.87 -1.29%  
Hang Seng 21,479.08 -135.69 -0.63%  
Straits Times 2,629.35 -19.29 -0.73% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks surge on jobs data, Cisco forecast

Stocks jump as better jobs data, upbeat forecast from Cisco boost hopes for economic rebound*

By Tim Paradis, AP Business Writer 
On 4:54 pm EST, Thursday November 5, 2009 

NEW YORK (AP) -- A drop in unemployment claims and an upbeat forecast from Cisco Systems Inc. gave investors a jolt of confidence a day before a key government report on jobs.

The Dow Jones industrial average jumped 200 points Thursday to its first close above 10,000 in two weeks, while the Nasdaq composite index led major indexes with a gain of 2.4 percent after Cisco, the maker of computer-networking gear, predicted its revenue would grow.

The Labor Department said the number of newly laid-off workers seeking unemployment benefits fell to 512,000 last week, the lowest level since January and fewer than economists had forecast. Initial claims are considered a gauge of the pace of layoffs.

The report unleashed a wave of optimism about the government's monthly report on employment Friday, which will shape trading because of the ties between joblessness and consumer spending. Economists say spending must increase for the economy to mount a sustained recovery. Analysts project that the unemployment rate rose to 9.9 percent in October.

The biggest jump in productivity in six years drove hopes that lower costs will boost corporate profits. The report also illustrated, though, that many employers remain reluctant to hire.

The government said the amount of output per hour worked rose 9.5 percent in the July-September quarter.

Meanwhile, retailers posted sales gains for the second straight month in October after watching business slide for more than a year. The retail industry posted a 2.1 percent sales gain for October, according to an International Council of Shopping Centers-Goldman Sachs tally. Investors are looking for any sign that consumers are willing to spend more as the holiday shopping season approaches.

"The news coming in has been for the most part better than expected," said Mike Boyle, senior vice president and portfolio manager at Advisors Asset Management.

According to preliminary calculations, the Dow rose 203.82, or 2.1 percent, to 10,005.96, its first close above 10,000 since Oct. 22. It was the Dow's biggest advance since a gain of 257 points on July 15, when computer chip maker Intel Corp. said business was improving.

The broader Standard & Poor's 500 index rose 20.13, or 1.9 percent, to 1,066.63, while the Nasdaq rose 49.80, or 2.4 percent, to 2,105.32.

The Russell 2000 index of smaller companies rose 18.03, or 3.2 percent, to 581.15.

Five stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.3 billion shares compared with 1.4 billion Wednesday.

Bond prices were mixed. The benchmark 10-year Treasury note slipped but its yield remained flat at 3.53 percent from late Wednesday.

Mixed economic data in recent weeks have made it difficult for investors to get a sense of where the economy is headed, leading to choppy trading. The Federal Reserve pointed to hopeful signs about the economy Wednesday but also said it would keep interest rates low for "an extended period" to help stimulate growth.

While the market often jumps at good news, investors can't shake fears that the economy won't be able to maintain the 3.5 percent pace of growth seen in the third quarter as government stimulus programs wind down.

Jeff Mortimer, chief investment officer at Charles Schwab Investment Management, predicts the choppiness will last at least through the end of the year.

"This is a transition period in a bull phase," he said. "Bull markets are front-end loaded and they give almost 50 percent of their return in their first one year of life."

Cisco pulled tech stocks higher after it said late Wednesday that it expects revenue to grow for the first time in a year for the quarter ending in January. The stock rose 64 cents, or 2.8 percent, to $23.93.

The Labor Department's monthly employment report is considered by many economists the most important economic reading because a sustained recovery depends on consumer spending.

Quincy Krosby, market strategist for Prudential Financial, said investors will be looking inside the report for the average number of weekly hours worked and demand for temporary workers. That's because as the economy improves businesses will first ask employees to stay at work longer and bring in more temps before managers gain enough confidence to hire.

In September, the number of weekly hours worked stood at a record low of 33, while the number of temporary workers fell by a modest 2,000 people.

Krosby said improvements in hours worked and the number of temp workers would bolster the idea the job market is healing.

"It will give legitimacy to the notion that the economy is picking up," she said.

The dollar fell against other major currencies. Gold prices rose.

Light, sweet crude fell 78 cents to settle at $79.62 per barrel on the New York Mercantile Exchange.

Overseas, European shares recovered from early losses to end higher after central banks left interest rates unchanged. The Bank of England said it would pump more money into the economy after news last week that the country remains in recession.

Britain's FTSE 100 rose 0.4 percent, Germany's DAX index added 0.7 percent, and France's CAC-40 gained 1.1 percent. Earlier Thursday, Japan's Nikkei stock average fell 1.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

*For the week, the Dow and the S&P 500 index added 3.2 percent, while the Nasdaq rose 3.3 percent.*

In the face of news that the unemployment rate climbed to a 25-year high, stocks managed to muster a modest gain, which gave the market its fifth straight advance. 

Stocks started the session moderately lower as participants made a push against stocks after learning that nonfarm payrolls fell by 190,000 in October and that the official unemployment rate climbed from 9.8% to 10.2%, the highest level since 1983. The consensus had called for job losses of 175,000 and an unemployment rate of 9.9%

Investors undaunted by a surprisingly weak jobs report found enough positive news to nudge stocks higher.

News that the nation's unemployment rate rose above 10 percent last month for the first time in 26 years didn't derail the stock market's strong gains in the week, which lifted major indexes more than 3 percent.

The rise in joblessness to 10.2 percent in October, while bad news for the economy, reassured some investors that the Federal Reserve will have to hold interest rates low for some time. That tends to weaken demand for the dollar, which in turn gives a boost to stocks.

The NYSE DOW closed HIGHER +17.46 points +0.17% on Friday November 6
Sym Last........ ........Change.......... 
Dow 10,023.42 +17.46 +0.17% 
Nasdaq 2,112.44 +7.12 +0.34% 
S&P 500 1,069.30 +2.67 +0.25% 
30-yr Bond 4.3940% -0.0180 

NYSE Volume 4,995,024,000  (prior day 5,695,214,000)
Nasdaq Volume 1,843,623,500  (prior day 2,257,181,750)

Oil 77.65 -1.97 -2.47% 
Gold 1,095.10 +6.40 +0.59% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,142.72 +17.08 +0.33% 
DAX 5,488.25 +7.33 +0.13% 
CAC 40 3,707.29 -1.44 -0.04% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,789.35 +71.91 +0.74% 
Hang Seng 21,829.72 +350.64 +1.63% 
Straits Times 2,658.21 +28.86 +1.10% 

http://finance.yahoo.com/news/Stocks-post-modest-gains-as-apf-114989186.html?x=0

*Stocks post modest gains as job losses slow

Stocks carve small gains as job losses slow even as unemployment hits 10.2 pct; Dow adds 18*

By Sara Lepro and Tim Paradis, AP Business Writers 
On 5:28 pm EST, Friday November 6, 2009 

NEW YORK (AP) -- Investors undaunted by a surprisingly weak jobs report found enough positive news to nudge stocks higher.

News that the nation's unemployment rate rose above 10 percent last month for the first time in 26 years didn't derail the stock market's strong gains in the week, which lifted major indexes more than 3 percent.

The rise in joblessness to 10.2 percent in October, while bad news for the economy, reassured some investors that the Federal Reserve will have to hold interest rates low for some time. That tends to weaken demand for the dollar, which in turn gives a boost to stocks.

"We got data today that suggests that interest rates are going to be on hold for a while," said Max Bublitz, chief strategist at SCM Advisors.

When the dollar is weaker, U.S. goods are cheaper for buyers overseas. Companies that do business overseas also get a profit gain when their earnings are translated back into dollars.

Safe-haven assets like Treasurys were mixed. Oil prices tumbled and gold topped $1,100 an ounce for the first time. Gold benefits when investors are worried about a weak dollar and inflation.

Meanwhile, General Electric Co. rose 6 percent after analysts raised their ratings on the stock. It was the biggest gainer among the 30 Dow industrials.

The jobs report bodes poorly for consumer spending, a key driver of the economy.

"The consumer remains cautious and if they remain cautious they don't spend," said Michael Feser, president of Zecco Trading.

The Labor Department said employers cut 190,000 jobs last month, fewer than the 219,000 jobs lost in September, but more than forecast. The market has been expecting unemployment to top 10 percent before peaking.

The Dow Jones industrial average rose 17.46, or 0.2 percent, to 10,023.42, boosting its gain for the week to 311 points. The Standard & Poor's 500 index rose 2.67, or 0.3 percent, to 1,069.30, while the Nasdaq composite index rose 7.12, or 0.3 percent, to 2,112.44.

For the week, the Dow and the S&P 500 index added 3.2 percent, while the Nasdaq rose 3.3 percent.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where volume came to 1.1 billion shares, compared with 1.3 billion Thursday.

Bond prices mostly climbed. The benchmark 10-year Treasury note rose, pushing its yield down to 3.51 percent from 3.53 percent late Thursday.

Oil fell $2.12 to settle at $77.87 per barrel on the New York Mercantile Exchange. Gold rose $6.40 to settle at $1,095.70 an ounce on the New York Mercantile Exchange, adding 5.3 percent for the week.

Jeffrey Friedman, senior market strategist at Lind-Waldock, a futures brokerage, said the jobs report is worrisome.

"We're still losing jobs. 10.2 is not a good number. And in reality, it's probably even higher," he said.

Some analysts saw reasons for optimism such as a rise in the number of temporary service jobs. Companies that are reluctant to commit to hiring will often first bring in temps to meet demand until they're more confident of a turnaround in the economy.

Linda Duessel, equity market strategist at Federated Investors, noted that payroll numbers turn higher an average of four and a half months after temp numbers begin to rise.

"We've been looking for temps to turn and they turned," she said. "It's good."

Although investors found a few bright spots in the jobs report, the numbers did shake their confidence in the economic recovery, stoked Thursday by an encouraging outlook from Cisco Systems Inc., better data on productivity and higher sales at major retailers. The Dow jumped 203 points on the day's string of good news to close above 10,000 for the first time in two weeks.

Thursday's jump brought most of the week's advance. The market rose Monday after improved manufacturing and housing figures raised expectations for the economy. Moves on Tuesday and Wednesday were modest.

Investors will have fewer economic reports to drive trading next week. A report due Friday on consumer sentiment will draw attention because traders are eager for any signals about how consumers will spend heading into the holiday season.

However, earnings reports from retailers including J.C. Penney Co., Macy's Inc. and Wal-Mart Stores Inc. will give investors more insight into how consumers are likely to behave in the coming months. Walt Disney Co.'s earnings may also provide clues about consumers.

Investors will also be tracking the ability of the government to raise money. The Treasury Department plans to auction $81 billion in debt next week. Analysts are watching for signs that demand is weakening for government debt because that could threaten stimulus spending and push interest rates higher.

In corporate news, Starbucks Corp. jumped $1.42, or 7.2 percent, to $21.12 after the coffee chain said late Thursday that its fourth-quarter profit rose and raised its fiscal 2010 earnings forecast because of an increase in customers.

GE advanced 90 cents, or 6.2 percent, to $15.33 after analysts raised their expectations for the company.

The Russell 2000 index of smaller companies fell 0.80, or 0.1 percent, to 580.35.

Overseas, Britain's FTSE 100 rose 0.3 percent, Germany's DAX index rose 0.1 percent, and France's CAC-40 slipped less than 0.1 percent. Japan's Nikkei stock average rose 0.7 percent.

6368


----------



## bigdog

Source: http://finance.yahoo.com

*Dow Hits 13-Month High*

Market participants responded to a sharp drop by the U.S. dollar with a broad-based buying effort that helped stocks make heady gains and finish at session highs. In fact, the Dow Jones Industrial Average logged its best closing level in 52 weeks. 

News that members of the G-20 and Treasury Secretary Geithner maintain the view that economic stimulus should not yet be withdrawn led to heavy selling against the U.S. dollar and drove the Dollar Index back to 2009 lows. It spent the entire session trading with a loss of roughly 1.0%

The Dow Jones industrial average stormed to its highest level in more than a year Monday as a falling dollar boosted prices for commodities including gold and oil. Stocks also jumped as investors grew more confident that governments around the world will keep interest rates low to help the global economy.

Energy and materials stocks led the market. The major indexes rose 2 percent and the Dow jumped 200 points for the second time in three days and reached its highest level in 13 months.

News that the Group of 20 countries will keep their economic stimulus measures in place signaled to investors that rates will remain low. With U.S. rates near zero, the G-20 news lessened demand for the dollar.

*The NYSE DOW closed HIGHER +203.52 points +2.03% on Monday November 9*
Sym Last........ ........Change.......... 
Dow 10,226.94 +203.52 +2.03% 
Nasdaq 2,154.06 +41.62 +1.97% 
S&P 500 1,093.08 +23.78 +2.22% 
30-yr Bond 4.4010% +0.0070 

NYSE Volume 4,669,590,000  (prior day 4,995,024,000)
Nasdaq Volume 2,044,066,125  (prior day 1,843,623,500)

Oil 79.25 +1.82 +2.35% 
Gold 1,103.60 +8.50 +0.78% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,235.18 +109.54 +2.14% 
DAX 5,619.72 +131.47 +2.40% 
CAC 40 3,785.49 +78.20 +2.11% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,808.99 +19.64 +0.20%  
Hang Seng 22,207.55 +377.83 +1.73%  
Straits Times 2,693.38 +35.17 +1.32% 

http://finance.yahoo.com/news/Stocks-jump-after-G20-pledge-apf-2566762760.html?x=0

*Stocks jump after G-20 pledge to aid economies

Stocks jump as G-20 countries agree to maintain economic stimulus; sliding dollar lifts market*

By Tim Paradis, AP Business Writer 
On 4:41 pm EST, Monday November 9, 2009 

NEW YORK (AP) -- The Dow Jones industrial average stormed to its highest level in more than a year Monday as a falling dollar boosted prices for commodities including gold and oil. Stocks also jumped as investors grew more confident that governments around the world will keep interest rates low to help the global economy.

Energy and materials stocks led the market. The major indexes rose 2 percent and the Dow jumped 200 points for the second time in three days and reached its highest level in 13 months.

News that the Group of 20 countries will keep their economic stimulus measures in place signaled to investors that rates will remain low. With U.S. rates near zero, the G-20 news lessened demand for the dollar.

Even as investors are waiting for more signs that the economy is recovering, they've been focusing on the dollar's moves when they make their buy and sell decisions. Investors around the world see the dollar as weaker than other currencies, and so they're using it for what's known as "carry trade," to finance purchases of investments in other countries. That trend takes the dollar down further when those purchases are made.

But some analysts are questioning the stock market's moves given the still-weak economy, and warn that stocks and other investments could suffer big losses if the dollar were to turn higher.

"It feels like it's on fumes," said Sean Simko, head of fixed income management at SEI Investments in Oaks, Pa., referring to the market's advance. "Although fundamentals are catching up, they're not caught up."

He said the dollar's drop and the current surge in stocks and commodities are making it hard for investors to get a clear picture of how fast the economy is rebounding.

Still, many investors like a weaker dollar because it helps U.S. exporters by making their goods cheaper to overseas buyers and giving the companies a boost when they convert profits from abroad to dollars.

The ICE Futures U.S. dollar index, which measures the greenback against a basket of foreign currencies, fell to its lowest level in 15 months. The dollar rose last year and early this year but the index has been sliding for the past eight months since major stock indicators bounced off 12-year lows. Investors, although they've been basing most of their buy or sell decisions on the economy, have also been following a pattern of funneling money into stocks when the dollar weakens and pulling it out when the currency rises.

Commodities prices, meanwhile, tend to rise when the dollar is down, so gold topped $1,100 an ounce. Crude oil rose $2 to settle at $79.43 per barrel on the New York Mercantile Exchange, helped in part by Tropical Storm Ida, which threatened the Gulf of Mexico.

Energy and materials stocks rose along with commodities prices, and investors' enthusiasm for those stocks spilled over to other industries.

Brian Battle, vice president of trading at Performance Trust Capital Partners in Chicago, said the strength of the carry trade is giving an artificial lift to a range of assets, including stocks.

"There's cheap money that's going to be pumping its way into the system," he said. "That money is finding is home in the currency and commodity markets."

According to preliminary calculations, the Dow rose 203.52, or 2 percent, to 10,226.94, its highest finish since Oct. 3, 2008. The index rose as high as 10,228.23, topping its previous 12-month trading high of 10,119.46 set last month.

The broader Standard & Poor's 500 index rose 23.78, or 2.2 percent, to 1,093.08, its sixth straight advance. The Nasdaq composite index rose 41.62, or 2 percent, to 2,154.06.

Five stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.2 billion shares compared with 1.1 billion Friday.

Bond prices mostly rose, pushing yields lower. The yield on the benchmark 10-year Treasury note slipped to 3.48 percent from 3.50 percent late Friday.

The dollar's slide also came as the International Monetary Fund said the dollar remained "on the strong side." That added to selling pressure.

Jason Pride, director of research at Haverford Investments outside Philadelphia, isn't troubled by the slide in the dollar because he sees it as another sign that fear in the market is easing after the slide of the past two years. Investors rushed into the dollar as they sought the safest assets.

"As the economy gets back to normal from what were very dire circumstances earlier this year the equity markets are going to be moving up and the dollar should be falling," he said.

"You're seeing a lot of pieces move off each other and the dollar is driving a lot of it," he said.

Retailers had some of the biggest gains in the market's broad advance. Abercrombie & Fitch Co. rose $2.58, or 7.4 percent, to $37.59 after several analysts said international growth would boost growth at the teen apparel retailer. The company is slated to post its fiscal third-quarter numbers Friday.

Investors are looking for any insight into how much consumers are spending as the holidays approach. J.C. Penney Co., Macy's Inc. and Wal-Mart Stores Inc. are among the stores expected to post quarterly results this week.

Among enegy stocks, Exxon Mobil Corp. rose 69 cents to $72.85. Gold producer Newmont Mining Corp. rose $1.52, or 3.1 percent, to $50.56 and hit a 12-month high.

The Russell 2000 index of smaller companies rose 11.96, or 2.1 percent, to 592.31.

Overseas, Britain's FTSE 100 rose 1.8 percent, Germany's DAX index jumped 2.4 percent, and France's CAC-40 rose 2.1 percent. Japan's Nikkei stock average rose 0.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com

*Stocks zigzag after Dow jumps to 13-month high; Dollar gains as risk appetite cools*

The stock market spent most of the session trading without clear direction as participants took a bit of a breather following the previous session's heady advance. That left the major indices to settle in mixed fashion. 

Stocks oscillated throughout the session as the U.S. dollar fluctuated against other major currencies after it dropped sharply in the previous session. The greenback initially found support as the British pound weakened in the wake of news that credit analysts at Fitch said Britain is the most likely of the major economies to lose its AAA credit rating. Representatives from the United Kingdom maintain that the credit rating remains safe. That helped the pound trim its losses and undercut the dollar; the Dollar Index finished flat after being up as much as 0.3%. 

Investors cooled their buying of stocks and commodities, pausing from a surge that carried major stock indexes to their highest levels in more than a year.

Stocks ended mixed Tuesday. The Dow Jones industrials tacked on 20 points a day after shooting up 200 points for the second time in three days.

The market again took its direction from the dollar, as it has for months. Stocks drove higher Monday as the dollar weakened and slipped Tuesday as the currency rose.

*The NYSE DOW closed HIGHER +20.03 points +0.20% on Tuesday November 10*
Sym Last........ ........Change.......... 
Dow 10,246.97 +20.03 +0.20% 
Nasdaq 2,151.08 -2.98 -0.14% 
S&P 500 1,093.01 -0.07 -0.01% 
30-yr Bond 4.4150% +0.0140 

NYSE Volume 4,509,154,000  (prior day 4,669,590,000)
Nasdaq Volume 2,010,198,620  (prior day 2,044,066,125)

Oil 78.85 -0.58 -0.73% 
Gold 1,101.90 +1.10 +0.10% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,230.55 -4.63 -0.09% 
DAX 5,613.20 -6.52 -0.12% 
CAC 40 3,785.59 +0.10 +0.00% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,870.73 +61.74 +0.63%  
Hang Seng 22,268.16 +60.61 +0.27%  
Straits Times 2,707.60 +14.22 +0.53% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks zigzag after rally as the dollar rises

Stocks zigzag after Dow jumps to 13-month high; Dollar gains as risk appetite cools*

By Sara Lepro and Tim Paradis, AP Business Writers 
On 4:31 pm EST, Tuesday November 10, 2009 

NEW YORK (AP) -- Investors cooled their buying of stocks and commodities, pausing from a surge that carried major stock indexes to their highest levels in more than a year.

Stocks ended mixed Tuesday. The Dow Jones industrials tacked on 20 points a day after shooting up 200 points for the second time in three days.

The market again took its direction from the dollar, as it has for months. Stocks drove higher Monday as the dollar weakened and slipped Tuesday as the currency rose.

The Dow swung in a range of about 60 points in light trading as investors increased their buying of safe-haven assets like the dollar and Treasurys. The ICE Futures US dollar index, which measures the dollar against other currencies, edged higher.

"People are reaching for a little less risk today after we've had such a run," said Bill Stone, chief investment strategist at PNC Wealth Management.

Record-low interest rates in the U.S. and the resulting slide in the dollar have been major forces behind the surge in stocks in recent months. A weaker dollar allows investors to borrow money cheaply, while the low interest rates also encourage them to hold any assets other than low-yielding cash, such as stocks, commodities and bonds.

The falling dollar has enabled many investors to look past some of the economy's persistent trouble spots, including unemployment. The jobless rate rose to 10.2 percent in October, the highest level in 26 years.

A number of market watchers still believe the recent surge in stocks has been overdone given the weaknesses that remain in the economy, such as the large amounts of souring loans on banks' balance sheets.

Still, some analysts said the market's ability to hold its gains is a welcome sign.

Ryan Detrick, senior technical strategist at Schaeffer's Investment Research, said it is encouraging that the market is holding its gains and isn't as volatile as last month when big advances would be followed by big drops. He said a day of modest moves is a healthful sign of a market consolidating its gains.

"It's kind of what you call a coffee day," he said, referring to the market's small moves. "We expect that we'll continue to stair-step higher to the end of the year."

According to preliminary calculations, the Dow rose 20.03, or 0.2 percent, to 10,246.97, its fourth straight advance and its highest close since Oct. 3, 2008. The Dow traded up to 10,260.80, a 12-month.

The broader Standard & Poor's 500 index fell 0.07, or less than 0.1 percent, to 1,093.01, after six straight days of gains. The Nasdaq composite index fell 2.98, or 0.1 percent, to 2,151.08.

Three stocks fell for every two that rose on the New York Stock Exchange, where volume came to 1.1 billion shares, compared with 1.2 billion Monday.

Bond prices mostly rose, sending yields down, after an auction of 10-year notes drew decent demand. The 10-year yield fell to 3.48 percent from 3.49 percent late Monday.

In corporate news, bond insurer MBIA Inc. tumbled $1.28, or 26.7 percent, to $3.52 after posting a third-quarter loss on weaker results at its insurance business.

American International Group Inc. rose after analysts at Moody's Investor Service projected that the insurer will have adequate resources to repay the federal government. The government has injected more than $182 billion in aid to the company to help stabilize the financial system. AIG rose $1.41, or 3.9 percent, to $37.59.

Priceline.com Inc. jumped to a nine-year high after the online travel booking company said it was seeing an increase in customers booking airfare and hotel rooms. The stock rose $30.49, or 17.6 percent, to $204.22 after trading as high as $209.19.

Beazer Homes USA rose after the homebuilder turned a fiscal fourth-quarter profit despite a plunge in revenue and said it saw "some moderation" in weak market trends. The stock rose 41 cents, or 8.7 percent, to $5.10.

Fluor Corp. fell $3.63, or 7.6 percent, to $44.38 after the engineering and construction company posted an 11 percent drop in its third-quarter profit as revenue fell at its oil and gas and power divisions.

Crude oil fell 38 cents to settle at $79.05 per barrel on the New York Mercantile Exchange, while gold rose.

In other trading, the Russell 2000 index of smaller companies fell 5.34, or 0.9 percent, to 586.97.

Overseas, Britain's FTSE and Germany's DAX index each fell 0.1 percent. France's CAC-40 was essentially flat. Japan's Nikkei stock average rose 0.6 percent.


----------



## bigdog

Source: http://finance.yahoo.com

A rebound by the U.S. dollar and some technical resistance caused stocks to make an early pullback from 2009 highs and spend the rest of the session trading in lackluster fashion. 

Broad-based buying in overseas markets amid strong economic data from Asia and solid earnings from some major industry players in Europe helped inspire a positive tone among U.S. participants in the early going. That combined with renewed weakness in the U.S. dollar to send the S&P 500 1.1% higher to a fractionally better 2009 high in the first hour of trade. 

Another weak day for the dollar and upbeat economic news from China gave investors more reason to keep buying stocks.

A drop in the dollar lifted gold and oil prices after Federal Reserve officials signaled that borrowing rates would remain low. The market bounded higher in early trading but came off its highest levels as the dollar pulled off of a 15-month low.

Investors drew encouragement from a 16.1 percent jump in industrial production in China. That fanned expectations that a broader global recovery is gaining steam.

*The NYSE DOW closed HIGHER +44.29 points +0.43% on Wednesday November 11*
Sym Last........ ........Change.......... 
Dow 10,291.26 +44.29 +0.43% 
Nasdaq 2,166.90 +15.82 +0.74% 
S&P 500 1,098.51 +5.50 +0.50% 
30-yr Bond 4.4140% -0.0010 

NYSE Volume 4,514,096,500  (prior day 4,509,154,000)
Nasdaq Volume 1,891,974,120  (prior day 2,010,198,620)

Oil 79.28 +0.23 +0.29% 
Gold US$/oz 1118.00 +13.10 +1.19% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,266.75 +36.20 +0.69% 
DAX 5,668.35 +55.15 +0.98% 
CAC 40 3,814.39 +28.80 +0.76% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,871.68 +0.95 +0.01%  
Hang Seng 22,627.21 +359.05 +1.61%  
Straits Times 2,740.43 +32.83 +1.21% 

http://finance.yahoo.com/news/Stocks-rise-as-traders-bet-on-apf-3235873442.html?x=0

*Stocks rise as dollar continues to dictate trading

Stocks rise on as dollar tugs at market; Fed officials signal rates will remain low for now*

By Tim Paradis, AP Business Writer 

 NEW YORK (AP) -- Another weak day for the dollar and upbeat economic news from China gave investors more reason to keep buying stocks.

A drop in the dollar lifted gold and oil prices after Federal Reserve officials signaled that borrowing rates would remain low. The market bounded higher in early trading but came off its highest levels as the dollar pulled off of a 15-month low.

Investors drew encouragement from a 16.1 percent jump in industrial production in China. That fanned expectations that a broader global recovery is gaining steam.

The Dow Jones industrial average rose 44 points in light trading after being up as much as 95 points and hitting a 13-month high. The Dow posted its sixth straight gain.

Trading was light because of the Veterans Day holiday, but volume has been weak for most of the month.

The early drop in the dollar came after several Fed officials said late Tuesday that the economic recovery is likely to be weak. Investors took that as another sign that policymakers will hold interest rates low to help resuscitate growth. The central bank indicated after a policy meeting last week that they wouldn't raise rates until the economy was on firm footing.

Record-low interest rates and the resulting slide in the dollar have been major forces behind the surge in stocks since the summer. The borrowing costs of near zero are a boon for financial companies, and the weaker dollar helps make U.S. exports cheaper to overseas buyers.

Analysts said the direction of the dollar likely will continue to dictate trading.

"I don't see anything that's changing out there that's going to stop out dollar from getting weaker," said Ralph Fogel, co-chief investment officer at Fogel Neale Partners in New York.

According to preliminary calculations, the Dow rose 44.29, or 0.4 percent, to 10,291.26. The Dow rose as high as 10,341.97, its best level since Oct. 3, 2008.

The Dow's advance was significant for traders who track stock charts. The index briefly topped 10,334, the level that marked the halfway point in its recovery since tumbling to a 12-year low of 6,574 on March 9.

The broader Standard & Poor's 500 index rose 5.50, or 0.5 percent, to 1,098.51 and topped 1,100 for the first time since last year. It hit a 13-month high of 1,105.37 -- also its best level since Oct. 3 last year.

The Nasdaq composite index rose 15.82, or 0.7 percent, to 2,166.90.

The Russell 2000 index of smaller companies rose 5.78, or 1 percent, to 592.71.

Bond markets were closed for the Veterans Day holiday.

Crude oil rose 23 cents to $79.28 per barrel on the New York Mercantile Exchange. Meanwhile, gold ended up $12.10 at $1,114.60 an ounce after trading as high as $1119.10.

A jump in orders at luxury builder Toll Brothers Inc. pushed home builder stocks to steep gains. Toll Brothers jumped $3.02, or 16.4 percent, to $21.41 after its report.

Pulte Homes Inc. rose 77 cents, or 8.1 percent, to $10.23, while Beazer Homes USA Inc. advanced 63 cents, or 12.4 percent, to $5.73.

Gold producer Newmont Mining Corp. rose 78 cents, or 1.6 percent, to $51.24 and hit a 12-month high.

Macy's Inc.'s fell after it didn't increase its full-year earnings and sales forecasts as much as analysts had hoped. The stock fell $1.57, or 8.1 percent, to $17.86.

Reports from retailers are important because investors are worried that the economy won't be able to sustain its recovery if consumers don't step up their spending.

Investors will be looking for signals about the economy Thursday when Wal-Mart Stores Inc. as well as the department store chains Kohl's Corp. and Nordstrom Inc. post quarterly numbers. Walt Disney Co. is also slated to report.

Three stocks rose for every two that fell on the New York Stock Exchange, where volume came to 1 billion shares compared with 1.1 billion Tuesday.

Overseas, Japan's Nikkei stock average rose 0.1 percent. Britain's FTSE 100 rose 0.7 percent, Germany's DAX index rose 1 percent, and France's CAC-40 added 0.8 percent.


----------



## bigdog

Source: http://finance.yahoo.com

A stronger dollar dampened the mood of participants for the entire session, resulting in broad-based losses for stocks. 

Stocks had spent the first part of the session chopping around listlessly, but began to slide as the U.S. dollar was able to further extend its rebound from the previous session, when the Dollar Index registered a fresh 52-week low. Though the greenback made a couple of pullbacks in the early going, it never left positive territory. That induced some short covering, which helped it finish the session with a 0.8% gain, its best single-session percentage advance in more than one month. 

Stocks chopped along in listless action during the early going and briefly made their way to modest gains amid momentary pullbacks by the greenback, but stocks soon fell into the red as the dollar firmed up its gains. Amid the dollar's strong advance, the S&P 500 logged its worst performance by percent of this month, though to be fair, the only other loss this month took place earlier this week when the broader market slipped less than 0.01%. 

A drop in energy stocks dragged the market lower Thursday following a government report that consumers and businesses cut back on their use of oil and gas.

Major stock indexes slid about 1 percent from 13-month highs, including the Dow Jones industrial average, which fell 94 points after six days of gains.

A jump in petroleum supplies last week stirred worries that the falling demand for energy was a sign of more weakness in the economy. The report pushed crude oil down 3 percent, below $77 a barrel.

*The NYSE DOW closed LOWER -93.79 points -0.91% on Thursday November 12*
Sym Last........ ........Change.......... 
Dow 10,197.47 -93.79 -0.91% 
Nasdaq 2,149.02 -17.88 -0.83% 
S&P 500 1,087.24 -11.27 -1.03% 
30-yr Bond 4.3860% -0.0280 

NYSE Volume 4,341,626,500  (prior day 4,514,096,500)
Nasdaq Volume 2,219,716,750 (prior day 1,891,974,120)

Oil 76.77 -2.51 -3.17% 
Gold 1,104.30 -10.50 -0.94% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,276.50 +9.75 +0.19% 
DAX 5,663.96 -4.39 -0.08% 
CAC 40 3,808.07 -6.32 -0.17% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,804.49 -67.19 -0.68%  
Hang Seng 22,397.57 -229.64 -1.01%  
Straits Times 2,726.24 -14.19 -0.52% 

http://finance.yahoo.com/news/Drop-in-US-energy-use-drags-apf-4294059442.html?x=0

*Drop in US energy use drags stock market lower

Stocks fall as weaker consumption of oil and gas stirs worries about economy; Dow drops 94 pts*

By Tim Paradis, AP Business Writer 
On 4:25 pm EST, Thursday November 12, 2009 

NEW YORK (AP) -- A drop in energy stocks dragged the market lower Thursday following a government report that consumers and businesses cut back on their use of oil and gas.

Major stock indexes slid about 1 percent from 13-month highs, including the Dow Jones industrial average, which fell 94 points after six days of gains.

A jump in petroleum supplies last week stirred worries that the falling demand for energy was a sign of more weakness in the economy. The report pushed crude oil down 3 percent, below $77 a barrel.

A gain in the dollar also weighed on commodity prices by making them more expensive for overseas buyers.

The resulting slide in energy shares upended an early advance led by technology stocks, which rose after 3Com Corp. agreed to a $2.7 billion takeover by Hewlett-Packard Co. and as Intel Corp. said it would pay $1.25 billion to Advanced Micro Devices Inc. to settle legal disputes.

The disappointing report on energy usage overshadowed other news about the economy. The Labor Department said new claims for unemployment insurance fell last week to a seasonally adjusted 502,000 from an upwardly revised 514,000 the previous week. That's the fewest claims since early January and better than economists had forecast.

Wal-Mart Stores Inc. reported third-quarter earnings that beat analysts' expectations, though sales at stores open at least a year dropped during the quarter. The nation's biggest retailer said sales at existing stores would range from a drop of 1 percent to a gain of 1 percent in its fourth quarter. Sales at stores open at least a year are an important indicator of a retailer's strength.

The mammoth company is seen as a key indicator of consumer spending trends. Investors have worried for months that consumers are so strained by unemployment and lower home prices that they won't spend more and help propel a recovery in the economy.

Frank Ingarra Jr., co-portfolio manager at Hennessy Funds in Stamford, Conn., said stocks had been due for a pause after steep gains in the past week. The Dow and the S&P 500 index closed at their highest levels since October 2008 on Wednesday.

"There is very light volume so it looks like the market wants to do a little consolidating here," he said.

According to preliminary calculations, the Dow fell 93.79, or 0.9 percent, to 10,197.47. The Dow had been up 519 points, or 5.3 percent, in the prior six days -- its longest stretch of gains since late August.

The broader S&P 500 index fell 11.27, or 1 percent, to 1,087.24, and the Nasdaq fell 17.88, or 0.8 percent, to 2,149.02.

The Russell 2000 index of smaller companies fell 12.39, or 2.1 percent, to 580.32.

Four stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.1 billion shares compared with 1 billion Wednesday.

Tom Nyheim, portfolio manager at Christiana Bank & Trust Co. in Greenville, Del., said the drop in oil wasn't likely to last because demand would outstrip supply as economies in Asia and elsewhere recover ahead of the U.S.

He was encouraged that the stock market held most of its recent gains and wasn't enduring big slides when downbeat news arrived.

"When you get a bad piece of information coming into the market it only takes it down a half percent and then the market seems to firm up," Nyheim said. "I think we're going to consolidate, maybe flat-line toward the end of the year."

Treasurys rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.45 percent from 3.48 percent late Tuesday. Bond markets were closed Wednesday for Veterans Day.

Crude oil fell $2.34 to settle at $76.94 per barrel on the New York Mercantile Exchange. Gold fell.

The drop in oil weighed on energy stocks. Anadarko Petroleum Corp. fell $2.43, or 3.7 percent, to $62.55, while Range Resources Corp. fell $2.22, or 4.3 percent, to $48.98.

Among tech stocks, 3Com rose $1.77, or 31.1 percent, to $7.46, while H-P fell 30 cents, or 0.6 percent, to $49.70.

Advanced Micro rose $1.16, or 21.8 percent, to $6.48, while Intel fell 16 cents, or 0.8 percent, to $19.68.

Wal-Mart rose 27 cents, or 0.5 percent, to $53.24. Kohl's Corp. rose 5 cents, or 0.1 percent, to $54.64 after the department store chain's fiscal third-quarter profit rose 21 percent.

Overseas, Britain's FTSE 100 rose 0.2 percent, Germany's DAX index fell 0.1 percent and France's CAC-40 fell 0.2 percent. Japan's benchmark Nikkei stock average lost 0.7 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 247.05, or 2.5 percent, at 10,270.47. The Standard & Poor's 500 index rose 24.18, or 2.3 percent, to 1,093.48. The Nasdaq composite index rose 55.44, or 2.6 percent, to 2,167.88.

Weekly Recap - Week ending 13-Nov-09An early rally in equities this week helped the major averages regain more of their late-October declines.  The rally was large-cap driven, as the Dow was the first index to reach a new 52-week high on Monday, followed by the Nasdaq 100 and S&P 500 on Wednesday.  The larger composites trailed, particularly the Russell 2000, which only showed a modest gain on the week. 

All ten sectors that make up the S&P 500 advanced.  Materials (+4.2%) led the way, followed by IT (+3.3%) and Consumer Discretionary (+3.2%).  Energy (+0.2%) trailed. 

The biggest catalyst for equity markets remains the U.S. dollar. 

Encouraging earnings news from major retailers and The Walt Disney Co. drew investors back into the stock market to cap a second big week of gains.

The Dow Jones industrial average gained 73 Friday after falling 94 on Thursday. Major stock indexes rose more than 2 percent for the week.

Upbeat quarterly reports from Disney as well as Abercrombie & Fitch Co. and J.C. Penney Co. offset worries about a slide in consumer confidence.

*The NYSE DOW closed HIGHER +73.00 points +0.72% on Friday November 13*
Sym Last........ ........Change.......... 
Dow 10,270.47 +73.00 +0.72% 
Nasdaq 2,167.88 +18.86 +0.88% 
S&P 500 1,093.48 +6.24 +0.57% 
30-yr Bond 4.3560% -0.0300 

NYSE Volume 4,446,306,000  (prior day 4,341,626,500)
Nasdaq Volume 1,916,369,000  (prior day 2,219,716,750)

Oil 76.35 -0.59 -0.77% 
Gold 1,116.10 +10.10 +0.91% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,296.38 +19.88 +0.38% 
DAX 5,686.83 +22.87 +0.40% 
CAC 40 3,806.01 -2.06 -0.05% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,770.31 -34.18 -0.35% 
Hang Seng 22,553.63 +156.06 +0.70% 
Straits Times 2,727.23 +0.99 +0.04% 

http://finance.yahoo.com/news/Earnings-reports-push-stocks-apf-3791949710.html?x=0&.v=31

*Earnings reports push stocks higher; Dow gains 73

Stocks rebound as earnings reports boost confidence about the pace of economic recovery*

By Tim Paradis, AP Business Writer 
On 5:55 pm EST, Friday November 13, 2009 

NEW YORK (AP) -- Encouraging earnings news from major retailers and The Walt Disney Co. drew investors back into the stock market to cap a second big week of gains.

The Dow Jones industrial average gained 73 Friday after falling 94 on Thursday. Major stock indexes rose more than 2 percent for the week.

Upbeat quarterly reports from Disney as well as Abercrombie & Fitch Co. and J.C. Penney Co. offset worries about a slide in consumer confidence.

Disney said late Thursday that higher revenue at its cable, broadcast and movie studio divisions helped drive profits up 18 percent. Abercrombie's results were better than expected, while J.C. Penney raised its earnings and sales forecasts.

The market stumbled briefly in morning trading after a report found that the mood of consumers darkened this month. The preliminary Reuters/University of Michigan consumer sentiment index for November came in at 66.0, down from 70.6 in October. That could bode poorly for the holiday shopping season.

Stocks rebounded after that report but later pared their gains as the dollar pulled off its lows of the day. The dollar's steady slide since March, due largely to record-low U.S. interest rates, has pushed stocks and commodities higher on hopes that it would help U.S. exports, which become cheaper overseas with the weak dollar.

Lawrence Creatura, equity market strategist and portfolio manager at Federated Clover Capital Advisors, said investors looked past the consumer confidence figure to focus on earnings reports because they are a more reliable indicator about the economy.

"It's probably safe to say that investors are rationally more focused on what consumers do rather than what they say," he said.

The Dow rose 73.00, or 0.7 percent, to 10,270.47. The Dow's drop Thursday broke a six-day winning streak, as oil prices tumbled following a drop in energy demand and a stronger dollar.

The broader Standard & Poor's 500 index rose 6.24, or 0.6 percent, to 1,093.48. The Nasdaq composite index rose 18.86, or 0.9 percent, to 2,167.88.

For the week, the Dow rose 2.5 percent, after jumping 3.2 percent last week. The gains have boosted the Dow's climb for the year to 17 percent after a slump in late October.

The S&P 500 index rose 2.3 percent for the week, while the Nasdaq added 2.6 percent.

The ICE Futures US dollar index, which measures the dollar against other currencies, fell Friday after rising for two days.

The dollar drove trading during the week, as it has for months. The biggest gain of the week came Monday when the Dow jumped 204 points as a falling dollar increased commodities prices and officials from the Group of 20 wealthy and developing nations signaled they would hold interest rates low to propel economic growth. The Dow rose each day except Thursday.

Randy Frederick, director of trading and derivatives at Charles Schwab, expects the tie between the dollar and stocks to continue.

"As long as interest rates stay low it's going to be difficult for the dollar to gain any strength," he said.

Analysts also say news about consumers will direct the market. Traders will be gathering fresh insight next week with a government report due Monday on retail sales in October as well as quarterly earnings reports from Gap Inc., Home Depot Inc., Saks Inc. and Target Corp.

Investors are worried that consumers won't be ready to spend more as the effects of government spending like the Cash for Clunkers program dissipate.

"The real concern is once the impact of the stimulus works its way through the system is there going to be a smooth handoff to the consumer?" said Jim Baird, chief investment strategist at Plante Moran Financial Advisors.

The latest batch of earnings reports gave some hope. Disney rose $1.39, or 4.8 percent, to $30.44 and posted the biggest advance of the 30 stocks that make up the Dow industrials.

Abercrombie jumped $3.92, or 10.7 percent, to $40.68, while J.C. Penney gained $1.82, or 6.2 percent, to $31.21.

Bonds mostly rose, pushing yields lower. The yield on the 10-year note fell to 3.43 percent from 3.45 percent late Thursday.

Gold rose for the ninth time in 10 days, while oil fell 59 cents to settle at $76.35 a barrel on the New York Mercantile Exchange.

Three stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 3.9 billion shares, the lowest level in a month. Volume was 4.2 billion Thursday.

The Russell 2000 index of smaller companies rose 5.96, or 1 percent, to 586.28.

Overseas, Britain's FTSE 100 and Germany's DAX index rose 0.4 percent, while France's CAC-40 lost 0.1 percent. Japan's Nikkei stock average slipped 0.4 percent.

The Dow Jones industrial average closed the week up 247.05, or 2.5 percent, at 10,270.47. The Standard & Poor's 500 index rose 24.18, or 2.3 percent, to 1,093.48. The Nasdaq composite index rose 55.44, or 2.6 percent, to 2,167.88.

The Russell 2000 index, which tracks the performance of small company stocks, rose 5.93, or 1 percent, for the week to 586.28.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,095.15, up 231.89, or 2.1 percent.

7388


----------



## bigdog

Source: http://finance.yahoo.com

Broad-based buying on the back of a weaker dollar drove the major indices to new highs for 2009. Strength in the broader market also helped stocks offset a late slip by financials so that the S&P 500 could settle above the 1100 mark for the first time in more than one year. 

The U.S. dollar came under considerable pressure early. That helped perpetuate a positive tone among participants, who were already inspired by overseas gains in the wake of a renewed commitment by Asian officials to economic stimulus. With a 0.6% drop by the greenback against a basket of foreign currencies, the Dollar Index was left to trade near its 52-week lows. 

Investors kept the stock market's upward momentum going Monday, sending shares sharply higher as the dollar extended its slide and after retail sales rebounded more than expected in October.

Major stock indexes rose more than 1 percent to new 13-month highs, including the Dow Jones industrial average, which jumped 136 points. The Standard & Poor's 500 index closed above the 1,100 mark for the first time in more than a year.

The weaker dollar lifted gold to a new record and pumped up prices of other commodities, including oil. That, in turn, helped shares of energy and materials companies.

*The NYSE DOW closed HIGHER +136.49 points +1.33% on Monday November 16*
Sym Last........ ........Change.......... 
Dow 10,406.96 +136.49 +1.33% 
Nasdaq 2,197.85 +29.97 +1.38% 
S&P 500 1,109.30 +15.82 +1.45% 
30-yr Bond 4.2580% -0.0980 

NYSE Volume 5,301,507,500  (prior day 4,446,306,000)
Nasdaq Volume 2,117,517,500  (prior day 1,916,369,000)

Oil 78.82 +2.47 +3.24% 
Gold 1,138.60 +22.50 +2.02% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,382.67 +106.17 +2.01% 
DAX 5,804.82 +117.99 +2.07% 
CAC 40 3,863.16 +57.15 +1.50% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,791.18 +20.87 +0.21%  
Hang Seng 22,943.98 +390.35 +1.73%  
Straits Times 2,783.85 +56.62 +2.08% 

http://finance.yahoo.com/news/Stocks-jump-as-retail-sales-apf-1869698178.html?x=0

*Stocks jump as retail sales rebound in October

Stocks vault higher after retail sales rebound in October; Weakening dollar lifts commodities*

By Stephen Bernard and Tim Paradis, AP Business Writers 
On 4:33 pm EST, Monday November 16, 2009 

 NEW YORK (AP) -- Investors kept the stock market's upward momentum going Monday, sending shares sharply higher as the dollar extended its slide and after retail sales rebounded more than expected in October.

Major stock indexes rose more than 1 percent to new 13-month highs, including the Dow Jones industrial average, which jumped 136 points. The Standard & Poor's 500 index closed above the 1,100 mark for the first time in more than a year.

The weaker dollar lifted gold to a new record and pumped up prices of other commodities, including oil. That, in turn, helped shares of energy and materials companies.

Stocks added to their gains after Federal Reserve Chairman Ben Bernanke reaffirmed in a midday speech that the central bank would hold interest rates at record-low levels for an "extended period," and that he didn't see signs that the money being pumped into the economy by the government was creating speculative bubbles. Bond prices jumped after Bernanke said inflation appeared contained.

Some analysts have cautioned that the surge in stocks, which has been hastened by a sliding dollar, might not be justified by the still struggling economy. In fact, they say some investors might misread the big advance in stocks as a sign that the economy is stronger than it actually is.

The market's own dynamics also fed some of the day's gains.

Dan Deming, a trader with Stutland Equities, said the S&P 500's move above 1,100 gave some investors a shot of confidence and led to short-covering, which tends to amplify gains in the market. Short-covering occurs when investors have to buy stock after having earlier sold borrowed shares in a bet they would fall.

"We're breaking through the 1,100 mark, which is psychologically significant, and the market is seeing a little pop from that," Deming said.

Stocks began rising from the start after the Commerce Department said retail sales rose 1.4 percent in October, easily surpassing the 0.8 percent increase forecast by economists polled by Thomson Reuters. It was a sharp rebound following the 2.3 percent drop in September. Excluding the gain from autos, however, sales rose just 0.2 percent, half of what economists predicted.

Jamie Cox, a managing partner at Harris Financial Group, said the sales growth was a good sign heading into the holiday shopping season, especially because the data were not affected by factors such as sales-tax holidays and government stimulus programs that had been present in the preceding months.

According to preliminary calculations, the Dow rose 136.49, or 1.3 percent, to 10,406.96 after rising nearly 164 points.

The broader S&P 500 index rose 15.82, or 1.5 percent, to 1,109.30. It traded above 1,100 in mid-October but hasn't closed above that benchmark since October last year. The S&P 500 index first finished above 1,100 more than a decade ago, in March 1998.

The Nasdaq composite index rose 29.97, or 1.4 percent, to 2,197.85.

The Russell 2000 index of smaller companies advanced 16.59, or 2.8 percent, to 602.87.

The ICE Futures US dollar index, which measures the dollar against other currencies, fell 0.6 percent to a 15-month low. Gold reached a record $1,143.40 an ounce.

Investors have been using the weak dollar to finance purchases of higher-yielding assets. The move, what's known as a "carry trade," can further weaken the dollar.

Bond prices rose, pushing down yields. The yield on the benchmark 10-year Treasury note fell to 3.33 percent from 3.42 percent late Friday.

General Motors Co. said it lost $1.2 billion in the period since emerging from bankruptcy and the end of the third quarter on Sept. 30. Despite the loss, GM said it will begin to repay $6.7 billion in government loans and was seeing a stabilization in its business.

The stock market has been on a strong run after a pullback at the end of October. The Dow has jumped 694 points, or 7.2 percent, since the start of the month, raising questions about whether the market's advance is justified, given the still struggling economy.

Joe Battipaglia, market strategist for the private client group at Stifel Nicolaus & Co. in Yardley, Pa., said investors are placing big bets that interest rates will remain at record low rates because of Bernanke's comments and because the economy remains fragile. He contends the gains in stocks are being driven by trades like those involving the dollar and not healthy economic fundamentals.

"It's not like we're on some rocket trajectory of economic growth that's going to bring up the earnings and bring down unemployment," Battipaglia said.

Crude oil rose $2.55 to settle at $78.90 per barrel on the New York Mercantile Exchange.

Energy and materials stocks rose. Baker Hughes Inc. rose $1.89, or 4.6 percent, to $43.34, while Freeport-McMoRan Copper & Gold Inc. rose $2.91, or 3.6 percent, to $84.48.

About five stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.1 billion shares compared with 985 million Friday.

Overseas, Japan's Nikkei stock average rose 0.2 percent after that country's economy grew for the second straight quarter, marking an end to the recession there.

Investors also drew confidence from the results of the 21-member Asia-Pacific Economic Cooperation forum, which said it would maintain stimulus spending until a global economic recovery is at hand.

Britain's FTSE 100 rose 1.6 percent, Germany's DAX index gained 2.1 percent, and France's CAC-40 rose 1.5 percent


----------



## bigdog

Source: http://finance.yahoo.com

The major indices overcame broad losses to finish incrementally higher as the U.S. dollar handed back a portion of its gains this session. The greenback's pullback helped materials stocks offset weakness among retailers. 

After falling to a fresh 52-week low in the previous session, the Dollar Index rebounded as much as 1% before easing back to a 0.5% gain. The greenback's bounce gave the equity market an excuse to take a breather after setting new 2009 highs in the previous session. However, stocks showed a willingness to push even higher as the dollar pared its gains; in turn, stocks trimmed their losses to find higher ground late in the session. 

Stocks finished an erratic session mixed Tuesday as higher commodity prices lifted energy and materials shares.

The meager advances were enough to push stocks to new 13-month highs, though more shares fell than rose at the New York Stock Exchange. The market had zigzagged for much of the day on mixed news from retailers and on industrial production.

A rebound in the dollar after three down days kept investors' appetite for stocks in check. A long-term weakening trend in the dollar since March has been lifting commodities prices and shares of U.S. exporters, which benefit from stronger foreign demand for their goods when the dollar falls. Record-low U.S. interest rates have also driven investors to seek higher returns in stocks and commodities, pushing share prices higher.

*The NYSE DOW closed HIGHER +30.46 points +0.29% on Tuesday November 17*
Sym Last........ ........Change.......... 
Dow 10,437.42 +30.46 +0.29% 
Nasdaq 2,203.78 +5.93 +0.27% 
S&P 500 1,110.32 +1.02 +0.09% 
30-yr Bond 4.2500% -0.0080 

NYSE Volume 4,458,950,500  (prior day 5,301,507,500)
Nasdaq Volume 1,914,081,000  (prior day 2,117,517,500)

Oil 79.14 +0.24 +0.30% 
Gold 1,138.80 +0.20 +0.02% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,345.93 -36.74 -0.68% 
DAX 5,778.43 -26.39 -0.45% 
CAC 40 3,829.06 -34.10 -0.88% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,729.93 -61.25 -0.63%  
Hang Seng 22,914.15 -29.83 -0.13%  
Straits Times 2,764.95 -18.90 -0.68% 

http://finance.yahoo.com/news/Stocks-post-modest-gains-on-apf-307156118.html?x=0

*Stocks post modest gains on rise in commodities

Stocks end modestly higher as gain in commodities lifts material, energy stocks; Dow adds 30*

By Stephen Bernard and Tim Paradis, AP Business Writers 
On 4:56 pm EST, Tuesday November 17, 2009 

NEW YORK (AP) -- Stocks finished an erratic session mixed Tuesday as higher commodity prices lifted energy and materials shares.

The meager advances were enough to push stocks to new 13-month highs, though more shares fell than rose at the New York Stock Exchange. The market had zigzagged for much of the day on mixed news from retailers and on industrial production.

A rebound in the dollar after three down days kept investors' appetite for stocks in check. A long-term weakening trend in the dollar since March has been lifting commodities prices and shares of U.S. exporters, which benefit from stronger foreign demand for their goods when the dollar falls. Record-low U.S. interest rates have also driven investors to seek higher returns in stocks and commodities, pushing share prices higher.

Higher oil prices lifted energy stocks, and trading volume remained light.

Traders focused on retailers' earnings reports for insight into one of the market's biggest worries: how much consumers are spending. Home Depot Inc., Saks Inc. and Target Corp. all reported better-than-expected third-quarter results but also said they remain cautious ahead of the holiday shopping season.

"Despite the dramatic rally in the stock market, we still see the consumer operating at recessionary levels," said Uri Landesman, chief equity strategist and senior portfolio manager at ING Investment Management in New York.

Better retail news pushed stocks higher Monday as a government report showed a rebound in overall sales in October. Investors are looking for signs that consumer spending, one of the biggest drivers of the U.S. economy, will recover during the holiday season.

A report on industrial production weighed on the market. The Fed said output at the nation's factories, mines and utilities rose 0.1 percent in October, less than the 0.4 percent predicted by economists polled by Thomson Reuters.

Meanwhile, signs of inflation remained muted, a positive signal for the economy. The Labor Department's Producer Price Index, which measures inflation at the wholesale level, rose less than expected in October. The 0.3 percent rise was smaller than economists' forecasts of 0.5 percent and followed a decline of 0.6 percent a month earlier.

"The market is saying inflation is not an issue," said Tim Courtney, chief investment officer at Oklahoma City-based Burns Advisory Group. He said that's a signal interest rates will remain low.

According to preliminary calculations, the Dow Jones industrial average rose 30.46, or 0.3 percent, to 10,437.42. It was the highest close for the Dow since Oct. 2, 2008, when it ended at 10,482.85.

The broader Standard & Poor's 500 index rose 1.02, or 0.1 percent, to 1,110.32, while the Nasdaq composite index rose 5.93, or 0.3 percent, to 2,203.78.

Falling stocks narrowly outpaced those that rose on the NYSE, where volume came to 972 million shares compared with 1.1 billion Monday.

Stocks jumped Monday on the bigger-than-expected rebound in retail sales in October. The Dow rose 136 points and the S&P closed above the 1,100 level for the first time in more than a year.

The Dow is up 725 points, or 7.5 percent, this month. That has some analysts saying the market has been rising too fast given problems like unemployment still facing the economy. For the year, the Dow is up 18.9 percent after rebounding from a 12-year low in March.

A bounce in crude helped energy stocks for a second day Tuesday. Crude oil rose 24 cents to settle at $79.14 per barrel on the New York Mercantile Exchange.

Gold climbed 20 cents to $1,139.40. Gains in other metals fanned gains of materials companies. Platinum jumped $17.90 to $1,459 an ounce.

Bond prices edged higher to push yields lower. The yield on the benchmark 10-year Treasury note slipped to 3.33 percent from 3.34 percent late Monday.

Home Depot fell 66 cents, or 2.4 percent, to $26.99, while Saks rose 26 cents, or 4.1 percent, to $5.67. Target fell $1.52, or 3 percent, to $48.77. Pacific Sunwear of California Inc. tumbled $1.13, or 22.6 percent, to $3.88 after its sales forecast fell short of expectations.

Meanwhile, Jacobs Engineering Inc. fell $6.61, or 14.5 percent, to $38.88 after the company's fourth-quarter earnings slid 31 percent and the company's forecast fell short of expectations.

The Russell 2000 index of smaller companies slipped 0.53, or 0.1 percent, to 602.34.

Overseas, Japan's Nikkei stock average fell 0.6 percent. Britain's FTSE 100 fell 0.7 percent, Germany's DAX index fell 0.5 percent, and France's CAC-40 lost 0.9 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Despite weakness in the U.S. dollar, stocks spent nearly the entire session mired in weakness. Losses remained contained, however. 

Participants showed indifference to renewed selling against the greenback, which took the Dollar Index back toward the 52-week lows that it set earlier this week. It settled with a 0.4% loss.

Stocks drifted lower Wednesday after an unexpected drop in home construction and disappointing forecasts from technology companies added to worries about the economic recovery.

The modest drop came a day after major stock indicators closed at 13-month highs. The Dow Jones industrial average slipped 11 points after having risen over nine of the past 11 days. Analysts say the market has been due for a break after the fast ascent.

John Brady, senior vice president of global interest rate products at MF Global in Chicago, said as the end of the year approaches traders are looking foremost at preserving the gains amassed in an eight-month rally which has given the benchmark Standard & Poor's 500 index a gain of 22.9 percent so far in 2009.

*The NYSE DOW closed LOWER -11.11 points -0.11%  on Wednesday November 18*
Sym Last........ ........Change.......... 
Dow 10,426.31 -11.11 -0.11% 
Nasdaq 2,193.14 -10.64 -0.48% 
S&P 500 1,109.80 -0.52 -0.05% 
30-yr Bond 4.30% +0.05 

NYSE Volume 4,931,462,500 (prior day 4,458,950,500)
Nasdaq Volume 2,007,326,250  (prior day 1,914,081,000) 

Oil 79.75 +0.61 +0.77% 
Gold 1,144.20 +5.40 +0.47% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,342.13 -3.80 -0.07% 
DAX 5,787.61 +9.18 +0.16% 
CAC 40 3,828.16 -0.90 -0.02% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,676.80 -53.13 -0.55%  
Hang Seng 22,840.33 -73.82 -0.32%  
Straits Times 2,745.04 -19.91 -0.72% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stock market falls as home construction slows

Stocks fall as disappointing report on housing starts stirs worries about pace of recovery*

By Stephen Bernard and Tim Paradis, AP Business Writers 
On 4:55 pm EST, Wednesday November 18, 2009 

NEW YORK (AP) -- Stocks drifted lower Wednesday after an unexpected drop in home construction and disappointing forecasts from technology companies added to worries about the economic recovery.

The modest drop came a day after major stock indicators closed at 13-month highs. The Dow Jones industrial average slipped 11 points after having risen over nine of the past 11 days. Analysts say the market has been due for a break after the fast ascent.

John Brady, senior vice president of global interest rate products at MF Global in Chicago, said as the end of the year approaches traders are looking foremost at preserving the gains amassed in an eight-month rally which has given the benchmark Standard & Poor's 500 index a gain of 22.9 percent so far in 2009.

"It's a bit of a consolidation trade," he said. "Traders are scared to go out too far out on a limb here and do anything too risky late in the year."

The day's economic news provided investors more reason for caution. The Commerce Department said construction of homes and apartments fell 10.6 percent in October to an annual rate of 529,000, well below the pace of 600,000 that economists polled by Thomson Reuters expected.

Joe Heider, president of Dawson Wealth Management in Cleveland, said the disappointing results "will push against what was a very bullish attitude on Wall Street."

Heider said investors were trying to determine whether the slowdown signaled weakness in the economy or a reluctance among builders to break ground when the future of a homebuyers' tax credit was uncertain. Lawmakers extended a tax credit for first-time homebuyers that was set to end this month through June.

Building permits, a key indication for future activity, slid 4 percent and fell short of forecasts.

Technology shares fell after BMO Capital Markets said Blackberry maker Research in Motion Ltd. faces increased competition as consumers opt for less expensive phones. Meanwhile, forecasts from software makers Autodesk Inc. and Salesforce.com fell short of analysts expectations.

According to preliminary calculations, Dow fell 11.11, or 0.1 percent, to 10,426.31. The broader S&P 500 index slipped 0.52, or 0.1 percent, to 1,109.80, while the technology-heavy Nasdaq composite index fell 10.64, or 0.5 percent, to 2,193.14.

Trading volume was light, as it has been for weeks. That suggests a relatively small number of buyers, which means the market may have trouble holding on to a surge this month that has vaulted the Dow up 725 points, or 7.5 percent.

Investors are looking for any signals of further improvement in the economy to justify the gains that pulled major stock indexes off 12-year lows in March. Rising unemployment and tepid retail sales have some analysts worried that investors might have been too quick to place bets on a recovery.

The dollar mostly fell against other major currencies. That drove demand for gold and other metals.

Gold rose for a fourth straight day to a record $1,151.20 an ounce before ending at $1,141.20 an ounce on the New York Mercantile Exchange. Copper and silver touched their highest levels in more than a year.

The drop in the dollar offered only modest support to stocks. The market often moves opposite the dollar as weakness in the currency boosts demand for commodities. That, in turn, strengthens shares of energy and materials companies as well as exporters whose goods become cheaper to foreign buyers.

Matthew Eads, portfolio manager at Eads & Heald Investment Counsel in Atlanta, said the market is still at reasonable levels even though the S&P 500 index has risen 64 percent since March. But he cautions that stocks could pull back, however, if problems like unemployment don't ease or if confidence about a recovery falters.

"As long as people perceive fear or are losing their jobs, spending is going to go down," he said.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.37 percent from 3.33 percent late Tuesday.

Crude oil rose 44 cents to settle at $79.58 per barrel on the Nymex.

Among tech stocks, Research in Motion fell $1.55, or 2.5 percent, to $59.85, while Autodesk slid $2.80, or 10.4 percent, to $24.20. Salesforce.com fell $2, or 3.1 percent, to $63.61.

Falling stocks narrowly outpaced those that rose on the New York Stock Exchange, where volume came to 1.1 billion shares compared with 972 million Tuesday.

The Russell 2000 index of smaller companies fell 2.19, or 0.4 percent, to 600.15.

Overseas, Britain's FTSE 100 fell 0.1 percent, Germany's DAX index gained 0.2 percent, and France's CAC-40 slipped less than 0.1 percent. Japan's Nikkei stock average fell 0.6 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Sellers were able to dog stocks for the entire session and hand the S&P 500 its worst single-session percentage loss of the month as buyers stepped to the sidelines amid a lack of positive catalysts. Buyers showed some mild interest late in the session and helped stocks make a couple of upward spurts, but the moves were quickly repressed. 

Strength in the dollar kept many buyers at bay this session. The Dollar Index had been up as much as 0.7%, but settled with a gain of 0.3%. Though it settled off of session highs, its advance was enough to pressure both the equity market and commodities pits. 

Signs of a subdued economic recovery sent investors out of stocks Thursday and in search of safer assets like the dollar.

Major indexes tumbled about 1 percent, including the Dow Jones industrial average, which lost 94 points but ended well off its low. Energy and material stocks logged some of the biggest losses as a jump in the dollar sent commodity prices tumbling. Meanwhile, an analyst's downgrade of the chip industry pulled technology shares sharply lower.

As stocks fell, investors flocked to the dollar and Treasurys. The yield on the three-month T-bill, considered one of the safest investments, tumbled to its lowest level since December. The Chicago Board Options Exchange's Volatility Index, also known as Wall Street's fear gauge, rose more than 4 percent.

*The NYSE DOW closed LOWER -93.87 points -0.90% on Thursday November 19*
Sym Last........ ........Change.......... 
Dow 10,332.44 -93.87 -0.90% 
Nasdaq 2,156.82 -36.32 -1.66% 
S&P 500 1,094.90 -14.90 -1.34% 
30-yr Bond 4.2880% -0.0110 

NYSE Volume 4,909,092,500  (prior day 4,931,462,500)
Nasdaq Volume 2,263,984,750  (prior day 2,007,326,250)

Oil 77.90 -1.68 -2.11% 
Gold 1,143.80 +3.10 +0.27% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,267.70 -74.43 -1.39% 
DAX 5,702.18 -85.43 -1.48% 
CAC 40 3,760.22 -67.94 -1.77% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,549.47 -127.33 -1.32%  
Hang Seng 22,643.16 -197.17 -0.86%  
Straits Times 2,758.79 +13.75 +0.50% 

http://finance.yahoo.com/news/Stronger-dollar-weak-economic-apf-3017726482.html?x=0

Stronger dollar, weak economic data pummels stocks
Rising dollar, weak economic data drags stocks lower; Dow gives up 94 points

By Sara Lepro and Tim Paradis, AP Business Writers 
On 5:18 pm EST, Thursday November 19, 2009 

NEW YORK (AP) -- Signs of a subdued economic recovery sent investors out of stocks Thursday and in search of safer assets like the dollar.

Major indexes tumbled about 1 percent, including the Dow Jones industrial average, which lost 94 points but ended well off its low. Energy and material stocks logged some of the biggest losses as a jump in the dollar sent commodity prices tumbling. Meanwhile, an analyst's downgrade of the chip industry pulled technology shares sharply lower.

As stocks fell, investors flocked to the dollar and Treasurys. The yield on the three-month T-bill, considered one of the safest investments, tumbled to its lowest level since December. The Chicago Board Options Exchange's Volatility Index, also known as Wall Street's fear gauge, rose more than 4 percent.

Overseas markets also fell sharply.

The day's trade was a shift out of riskier assets and back into safe havens like the dollar and Treasurys. After amassing significant gains during an eight-month rally in stocks, investors are hesitant to take on too many extra risks as the year ends, worried that the economy's rebound might not be sustainable.

"Large money managers, going into the end of the year, are looking to protect their gains and are shifting assets," said Adam Gould, senior portfolio manager at Direxion Funds in New York.

For much of this year, investors have been selling dollars and putting their money in riskier assets like stocks and commodities that have the potential to earn higher returns.

Now, investors are wondering whether the dollar's slide has run its course and whether other markets have gotten overheated considering the many challenges to the economy including high unemployment.

Reports on the economy gave investors little incentive to hold on to stocks. Figures from the Labor Department indicated that employers are still shedding jobs, and the Mortgage Bankers Association reported a surge in foreclosures.

Still, analysts warn that the dollar's rise Thursday doesn't necessarily mark the beginning of a long-term move. Record-low U.S. interest rates could continue to weigh on the dollar.

Jon Biele, head of capital markets at Cowen & Co., said investors are searching for direction.

"There are a lot of questions out there and not a lot of answers. When you don't have the right information you don't do anything," he said.

The Dow fell 93.87, or 0.9 percent, to 10,332.44, after being down as much as 170. It was the Dow's biggest point drop since Oct. 30.

The broader Standard & Poor's 500 index fell 14.90, or 1.3 percent, to 1,094.90, while the Nasdaq composite index fell 36.32, or 1.7 percent, to 2,156.82.

The Russell 2000 index of smaller companies fell 14.47, or 2.4 percent, to 585.68.

Bonds rallied as stocks fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.34 percent from 3.37 percent late Wednesday. The yield on the three-month T-bill was flat at 0.02 percent after falling as low as 0.005 percent.

The ICE Futures US dollar index, which measures the dollar against other major currencies, gained 0.3 percent, weighing on commodities. Gold inched higher, while oil prices dropped $2.12 to settle at $77.46 a barrel on the New York Mercantile Exchange.

"There might be a little fear out there about dollar strengthening, as well as some natural profit-taking opportunities," said Dan Cook, senior market analyst at IG Markets Inc. in Chicago. "We've been on an amazing run."

The stronger dollar also makes U.S. goods and services more expensive overseas. U.S. companies that do business abroad make less money when their earnings are translated from other countries' currencies into dollars.

Among the day's economic news, the Mortgage Bankers Association said more than 14 percent of American homeowners with a mortgage were either behind on their payments or in foreclosure at the end of September. Investors are worried that loan defaults could rise as long as unemployment increases.

The government said the number of newly laid-off workers seeking unemployment insurance was unchanged last week at 505,000. The figure remains above the level that would indicate the economy is adding jobs.

Meanwhile, a private group's forecast of economic activity rose less than expected in October, signaling slow growth next year. The Conference Board said its index of leading economic indicators, which forecasts activity over the next six months, rose 0.3 percent last month.

The market's losses added to a modest drop Wednesday that followed a drop in home construction and worse-than-expected forecasts from technology companies.

Tech shares fell again after chipmakers, including Intel Corp., were downgraded.

"If a company like Intel isn't going to do as was well as people think, then that has many ripple effects," said Gould of Direxion Funds.

Intel lost 4.1 percent, sliding 82 cents to $19.30. Texas Instruments Inc. fell 87 cents, or 3.4 percent, to $24.88, while Advanced Micro Devices Inc. fell 27 cents, or 3.7 percent, to $7.05.

Five stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.1 billion shares, in line with Wednesday.

Overseas, Britain's FTSE 100 fell 1.4 percent, Germany's DAX index lost 1.5 percent, and France's CAC-40 slid 1.8 percent. Earlier Thursday, Japan's Nikkei stock average fell 1.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

A lack of positive catalysts and a stronger dollar weighed on stocks for the entire session and helped hand the market a fractional loss for the week. 

An earnings miss last evening from Dell (DELL 14.29, -1.58) had already put participants in a dour mood, while weakness in overseas markets also weighed on things -- Asia's major indices slid amid reports that policymakers are talking about the possibility of imposing capital controls, while Europe's bourses moved lower following discussions of withdrawing liquidity measures from European Central Bank (ECB) President Trichet. 

The stock market ended a down week with light selling as investors grew uneasy about a rising dollar and spiking demand for the safest government debt.

After two strong weeks, investors tried unsuccessfully to extend the market's rally after major stock indexes closed at 13-month highs on Tuesday. Disappointing reports on housing and worries about flagging demand at technology companies sapped strength from the market's eight-month rally.

The Dow Jones industrial average ended the week with a 0.5 percent gain but broader indexes slid.

*The NYSE DOW closed LOWER -14.28 points -0.14% on Friday November 20*
Sym Last........ ........Change.......... 
Dow 10,318.16 -14.28 -0.14% 
Nasdaq 2,146.04 -10.78 -0.50% 
S&P 500 1,091.38 -3.52 -0.32% 
30-yr Bond 4.2950% +0.0070 

NYSE Volume 4,344,880,500  (prior day 4,909,092,500)
Nasdaq Volume 1,979,998,750  (prior day 2,263,984,750)

Oil 76.83 -0.63 -0.81% 
Gold 1,146.40 +5.00 +0.44% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,251.41 -16.29 -0.31% 
DAX 5,663.15 -39.03 -0.68% 
CAC 40 3,729.36 -30.86 -0.82% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,497.68 -51.79 -0.54% 
Hang Seng 22,455.84 -187.32 -0.83% 
Straits Times 2,761.54 +2.75 +0.10% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks fall for 3rd day as dollar strengthens

Stocks slip as investors push into safe-haven investments; Dell weighs on technology stocks*

By Stephen Bernard and Tim Paradis, AP Business Writers 
On 4:30 pm EST, Friday November 20, 2009 

NEW YORK (AP) -- The stock market ended a down week with light selling as investors grew uneasy about a rising dollar and spiking demand for the safest government debt.

After two strong weeks, investors tried unsuccessfully to extend the market's rally after major stock indexes closed at 13-month highs on Tuesday. Disappointing reports on housing and worries about flagging demand at technology companies sapped strength from the market's eight-month rally.

The Dow Jones industrial average ended the week with a 0.5 percent gain but broader indexes slid.

Stocks fell for the third straight day Friday as a disappointing earnings report from computer maker Dell Inc. weighed on technology shares. The Nasdaq composite index, with a big representation of tech stocks, logged the weakest performance of the major indicators for the week.

Demand for safe havens rose Thursday and again Friday following Dell's report and as European Central Bank President Jean-Claude Trichet said the ECB plans to start reining in some of its stimulus programs.

Investors seeking safety pushed into the dollar and other investments seen as being stable such as short-term Treasurys. The yield on the three-month T-bill, which moves opposite its price, was flat at 0.02 percent from late Thursday. Yields briefly turned negative Thursday as investors seeking to pad their portfolios with safe investments before the end of the year were willing to accept negative returns.

"Investors seem to need a constant reassurance with where we are in the economic recovery," said Brett D'Arcy, chief investment officer at CBIZ Wealth Management Group in San Diego. "We just haven't gotten it in the past few days."

According to preliminary calculations, the Dow slipped 14.28, or 0.1 percent, to 10,318.16. The Dow fell 119 points, or 1.1 percent, in the final three days of the week. It ended the week up 0.5 percent because of steep gains Monday following an improvement in retail sales.

The broader Standard & Poor's 500 index fell 3.52, or 0.3 percent, to 1,091.38, while the Nasdaq fell 10.78, or 0.5 percent, to 2,146.04.

For the week, the S&P 500 index fell 0.2 percent and the Nasdaq lost 1 percent. For November, those indexes are each up about 5 percent, while the Dow is up about 6 percent.

The ICE Futures US dollar index, which measures the dollar against other major currencies, rose 0.4 percent. The stronger dollar can hurt commodities prices and also sales of U.S. exporters, whose goods become more expensive overseas when the dollar rises.

Demand for longer-term Treasurys fell, pushing yields higher. The yield on the benchmark 10-year note rose to 3.37 percent from 3.34 percent.

Many of the week's economic numbers made investors cautious.

Reports Wednesday and Thursday showing a drop in housing starts and a jump in mortgage delinquencies upended an advance that had been all but unbroken in November. Those figures brought worries that an economic recovery will be slow and bumpy.

Concerns about the pace of a recovery have dogged the market's eight-month rally but with the nation's unemployment rate now above 10 percent for the first time in 26 years and new worries about housing, some analysts say investors have raced too far ahead of a recovery in the economy.

Many investors have amassed big gains in the climb since March that has left the benchmark S&P 500 index up 20.8 percent so far this year. Analysts say trading volume has fallen in November because some money managers are stepping away from the market to safeguard their gains.

Traders predict volume will be light again next week because of Thanksgiving. Even with the holiday, the week brings a flurry of reports on home sales, unemployment, consumer confidence and demand for big-ticket manufactured goods.

The government also will revise its early estimate that said the economy grew at an annual pace of 3.5 percent during the July-September quarter. Many analysts now expect GDP will be revised lower because of recent reports on housing and retail sales.

Hank Smith, chief investment officer of equity at Haverford Investments in Radnor, Pa., said investors are worried that a lower reading on GDP will mean the economy didn't start the final quarter of 2009 with as much strength as had been hoped.

Smith also said the market's slump after it speak Tuesday wasn't unexpected because of the steep gains of the first half of the month. He predicts the latest slide and others won't be deep because some investors who didn't take part in the market's eight-month rally are looking for opportunities to jump in.

"The investors who have missed this move are experiencing tremendous anxiety about missing a new bull market but also about getting paid nothing or, in some cases, negative returns," Smith said.

Even if stocks can manage to climb in the final six weeks of the year, some traders are worried that there will be little to propel the market higher in 2010 if worries about jobs, housing and consumers don't ease.

Investors got the type of downcast news from Dell that suggests a recovery could be uneven. The company said sales of its computers to big businesses remain sluggish. Its quarterly revenue and profit missed analysts' expectations. The stock fell $1.58, or 10 percent, to $14.29.

Energy companies logged some of the biggest drops as crude oil fell 74 cents to settle at $76.72 per barrel on the New York Mercantile Exchange as the dollar rose. Gold rose.

Three stocks fell for every two that rose on the New York Stock Exchange, where volume came to 1.1 billion shares, in line with Thursday.

The Russell 2000 index of smaller companies fell 1.00, or 0.2 percent, to 584.68.

Overseas, Britain's FTSE 100 fell 0.3 percent, Germany's DAX index lost 0.7 percent, and France's CAC-40 dropped 0.8 percent. Japan's Nikkei stock average fell 0.5 percent.

7842


----------



## bigdog

Source: http://finance.yahoo.com

A drop by the dollar brought buyers in from the sidelines after stocks had fallen for three straight sessions. Early support helped the S&P 500 come within just a couple of points of a new 2009 high, but resistance at current highs left stocks to gradually pare gains for the remainder of the session. 

The Dollar Index erased its gains from the previous two sessions with a 0.6% fall. Indian Prime Minister Singh offered support for the greenback, but comments by Chicago Fed President Evans and St. Louis Fed President Bullard stirred selling pressure against the currency. Evans made it known that he thinks near-zero interest rates will remain well into 2010, while Bullard wants to keep the Fed's Mortgage-Backed Securities program active beyond the first quarter of 2010. 

Investors halted a three-day losing streak on the stock market Monday, sending prices broadly higher on a weaker dollar and better-than-expected home sales numbers.

Major stock indexes soared more than 1 percent, including the Dow Jones industrials, which rose 133 points to a 13-month high. Volume was thin ahead of the Thanksgiving holiday, which can exaggerate the size of swings in the market.

Investors found plenty reasons to buy as the day's developments pointed to two trends: an improving economy and interest rates that are expected to stay low.

*The NYSE DOW closed HIGHER +132.79 points +1.29% on Monday November 23*
Sym Last........ ........Change.......... 
Dow 10,450.95 +132.79 +1.29% 
Nasdaq 2,176.01 +29.97 +1.40% 
S&P 500 1,106.24 +14.86 +1.36% 
30-yr Bond 4.2870% -0.0080 

NYSE Volume 4,496,764,500  (prior day 4,344,880,500)
Nasdaq Volume 1,869,640,620 (prior day 1,979,998,750)

Oil 76.90 -0.56 -0.72% 
Gold 1,164.30 +17.90 +1.56% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,355.50 +87.80 +1.67% 
DAX 5,801.48 +138.33 +2.44% 
CAC 40 3,813.17 +83.81 +2.25% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,497.68 -51.79 -0.54%  
Hang Seng 22,771.39 +315.55 +1.41%  
Straits Times 2,797.88 +36.34 +1.32% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

Weak dollar, home sales data carry stocks higher
Stocks move sharply higher on weak dollar, jump in home sales; Dow touches fresh 13-month high

By Sara Lepro and Tim Paradis, AP Business Writers 
On 4:43 pm EST, Monday November 23, 2009 

NEW YORK (AP) -- Investors halted a three-day losing streak on the stock market Monday, sending prices broadly higher on a weaker dollar and better-than-expected home sales numbers.

Major stock indexes soared more than 1 percent, including the Dow Jones industrials, which rose 133 points to a 13-month high. Volume was thin ahead of the Thanksgiving holiday, which can exaggerate the size of swings in the market.

Investors found plenty reasons to buy as the day's developments pointed to two trends: an improving economy and interest rates that are expected to stay low.

-- The National Association of Realtors reported that October home sales rose more than 10 percent revived investors' optimism after disappointing data on the housing industry last week raised concerns about the strength of the economic recovery.

-- Charles Evans, head of the Federal Reserve Bank of Chicago, was quoted as saying he saw little risk that the economy would slide back into recession, although unemployment is unlikely to fall until next summer. And James Bullard, president of the Federal Reserve Bank in St. Louis, said the U.S. Fed should continue to buy mortgage-backed securities after the program is supposed to expire in March. That would continue to keep interest rates low.

-- The dollar, a key factor in stock trading in recent months, extended its pullback, sending prices for commodities including gold and oil higher and in turn, the stocks of companies that produce them.

Meanwhile, bond prices retreated as investors regained their appetite for risk.

Low interest rates and a resulting slide in the dollar have been big drivers behind the stock market's eight-month rally. Low interest rates enable investors to borrow cheaply and buy assets like stocks and commodities that have the potential to earn higher yields than cash.

Investors were buying Monday on somewhat contradictory forces in the market. The strength in housing is a sign of an improving economy, which could argue in favor of raising rates, while the dollar's weakness points to rates remaining low. Analysts say investors who still have plenty of available cash are primed to buy, and so the market may also be rising on its own momentum.

"There's still $2 trillion of cash that needs to find its way into the stock market," said Phil Orlando, chief equity market strategist at Federated Investors.

Orlando said investors will continue to look for dips in the rally as a way to get into the market, not wanting to end the year without participating in some of the big gains stocks have made.

"Bearish managers are sweating bullets that they're not going to be able to get that cash in the market and they need to do that," he said. "That is why any pullback we've seen this year has been met with a wave of cash that has pushed stocks up higher."

At the same time, many portfolio managers have cooled their buying, not wanting to risk losing the big returns they've made since stocks began rallying in March. Those opposing forces are likely to result in choppy trading over the next few weeks, analysts said, which will be exacerbated by light volume as the holidays approach.

According to preliminary calculations, the Dow rose 132.79, or 1.3 percent, to 10,450.95, after losing 120 points over the previous three days. The Dow rose as much as 177 points to a 13-month trading high of 10,495.61.

The Standard & Poor's 500 index rose 14.86, or 1.4 percent, to 1,106.24, while the Nasdaq composite index rose 29.97, or 1.4 percent, to 2,176.01.

Four stocks rose for every one that fell on the New York Stock Exchange, where volume came to a low 979.9 million shares, compared with 1.1 billion Friday. Many traders were already on vacation for Thanksgiving, and the decreased volume can contribute to price swings.

The ICE Futures U.S. dollar index, a widely used measure of the dollar against other currencies, fell 0.7 percent. As the dollar fell, gold prices surged to a new high of $1,174 an ounce. Oil rose 9 cents to $77.56 a barrel on the New York Mercantile Exchange.

The spike in commodities lifted the shares of energy companies and materials producers. Chevron Corp. rose $1.97, or 2.6 percent, to $78.74. Weyerhaeuser Co. gained $1.25, or 3.3 percent, to $39.11.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.36 percent from 3.37 percent late Friday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.02 percent from 0.01 percent.

The yield on the three-month bill briefly dipped into negative territory last week as worries about the economy took hold and investors retreated to safe havens like the dollar and government debt as they sold stocks.

Investors wanting to lock in profits as the year comes to a close are willing to earn very little to park their cash in a safe place.

"It's not a time for taking chances," said Quincy Krosby, market strategist at Prudential Financial.

The National Association of Realtors said home sales rose 10.1 percent in October to the highest level in two and a half years, spurred by a tax credit for first-time homebuyers. Analysts had been expecting a 1.4 percent increase in sales. The credit, due to end at the end of the month, has been extended into 2010.

"You could be completely cynical and say this market is moving up today because volume is low and the dollar is weak, but I would have to add that we're getting confirmation on the sustainability of the economic recovery by the actual fundamentals," Krosby said, referring to the housing report.

In other trading, the Russell 2000 index of smaller companies rose 10.13, or 1.7 percent, to 594.81.

Overseas, Britain's FTSE 100 rose 2 percent, Germany's DAX index soared 2.4 percent, and France's CAC-40 jumped 2.3 percent. Markets in Japan were closed for a holiday.


----------



## bigdog

Source: http://finance.yahoo.com

There were plenty of trading catalysts this session, but participants were generally subdued and left stocks to trade with moderate losses in light volume ahead of the Thanksgiving holiday. 

The stock market spent virtually the entire session in negative territory after stocks had logged solid gains in the previous session. Unlike the previous session, though, the dollar bounced between moderate gains and losses before it finished flat. Overseas markets also offered little support as they were hampered with weakness; the Shanghai Composite closed 3.5% lower due, in part, to concern for a lack of market-supportive measures from the country's officials.

U.S. stocks fell on Tuesday on lackluster economic data in a session marked by low volume and choppy trading, but losses eased after the Federal Reserve raised its expectations for growth in 2010.

Stocks fell early in the session as revised government data on gross domestic product showed the U.S. economy grew at a slower-than-expected pace in the third quarter.

Hewlett-Packard Co (NYSE:HPQ - News) shares led the Dow industrials lower a day after the technology bellwether said in its results that the U.S. economy remained challenging.

*The NYSE DOW closed LOWER -17.24  points -0.16% on Tuesday November 24*
Sym Last........ ........Change.......... 
Dow 10,433.71 -17.24 -0.16% 
Nasdaq 2,169.18 -6.83 -0.31% 
S&P 500 1,105.65 -0.59 -0.05% 
30-yr Bond 4.2570% -0.0300 

NYSE Volume 4,378,524,000  (prior day 4,496,764,500)
Nasdaq Volume 1,876,441,880  (prior day 1,869,640,620)

Oil 76.90 -0.56 -0.72% 
Gold 1,165.50 +1.20 +0.10% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,323.96 -31.54 -0.59% 
DAX 5,769.31 -32.17 -0.55% 
CAC 40 3,784.62 -28.55 -0.75% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,401.58 -96.10 -1.01%  
Hang Seng 22,423.14 -348.25 -1.53%  
Straits Times 2,779.98 -17.90 

http://finance.yahoo.com/news/Stock...5.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks dip on revised GDP; Fed's view curbs loss*
On 4:33 pm EST, Tuesday November 24, 2009 

By Rodrigo Campos

U.S. stocks fell on Tuesday on lackluster economic data in a session marked by low volume and choppy trading, but losses eased after the Federal Reserve raised its expectations for growth in 2010.

Stocks fell early in the session as revised government data on gross domestic product showed the U.S. economy grew at a slower-than-expected pace in the third quarter.

Hewlett-Packard Co (NYSE:HPQ - News) shares led the Dow industrials lower a day after the technology bellwether said in its results that the U.S. economy remained challenging.

With the S&P 500 up 22 percent so far this year, investors were struggling to justify additional gains after a series of middling economic reports.

However, the downbeat mood was tempered after the Fed revised upward its growth expectation for 2010, while minutes of the FOMC's most recent meeting showed officials are increasingly confident about a durable recovery for the U.S. economy.

"You're getting the cross-current of weak revisions to third-quarter data matrixed against the Fed increasing the growth estimates for the economy for the next year," said Jim Awad, managing director at Zephyr Management in New York.

"But the action in the market is moderate going into the holiday weekend and I wouldn't read too much into it."

The U.S. stock market will be closed on Thursday in observance of Thanksgiving Day. On Friday, it will be open for only half a day due to the holiday.

The Dow Jones industrial average (DJI:^DJI - News) dropped 17.24 points, or 0.16 percent, to end at 10,433.71. The Standard & Poor's 500 Index (^SPX - News) inched down just 0.59 of a point, or 0.05 percent, to 1,105.65. The Nasdaq Composite Index (Nasdaq:^IXIC - News) fell 6.83 points, or 0.31 percent, to 2,169.18.

Hewlett-Packard Co (NYSE:HPQ - News) fell 1.6 percent to $50.19 a day after the blue-chip computer and printer maker reported a quarterly profit that matched its preliminary results, but said the economy remained challenging.

HP also said it saw growth in its share of U.S. enterprise personal computers, which is rival Dell Corp's (NasdaqGSELL - News) key market. Dell's stock fell 3.2 percent to $14.32 and ranked as a top drag on the Nasdaq 100 (Nasdaq:^NDX - News).

Financial stocks showed weakness throughout the session. JPMorgan Chase & Co (NYSE:JPM - News) slid 1.9 percent to $42.48 and ranked among the heaviest weights on the blue-chip Dow industrials. The KBW bank index (Philadelphia:^BKX - News) fell 0.7 percent.

Zephyr Management's Awad said there is concern about banks' capital after news that the Fed asked lenders that were part of its "stress tests" to submit plans to repay government money.

U.S. home prices rose in September, according to the Standard & Poor's/Case-Shiller index, but the increase was less robust than forecast. Home prices for that month were unchanged, according to a separate report from the U.S. Federal Housing Finance Agency.

The Dow Jones U.S. Home Construction Index (DJI:^DJUSHB - News) fell 1.7 percent.

Volume was light on the New York Stock Exchange, where only about 952 million shares changed hands, far below last year's estimated daily average of 1.49 billion. On the Nasdaq, about 1.87 billion shares traded, well below last year's daily average of 2.28 billion.

Declining stocks outnumbered advancing ones on the NYSE by a ratio of about 8 to 7. On the Nasdaq, about three stocks fell for every two that rose.


----------



## bigdog

Source: http://finance.yahoo.com

A new 52-week low for the Dollar Index and a generally pleasing batch of economic data helped stocks make their way higher. However, buyers lacked the potency to push through resistance near 2009 highs as participation lacked ahead of the Thanksgiving holiday. 

Renewed pressure against the U.S. dollar sent the Dollar Index to a 1.1% loss, its worst single-session percentage drop in nearly four months. The drop also put the Dollar Index at a fresh 12-month low, but gave a broad lift to the equity market.

Stocks climbed Wednesday following a drop in weekly unemployment claims to the lowest level of the year and a rise in new home sales.

The market's gains were modest on light trading volume ahead of the Thanksgiving holiday.

The government said new claims for unemployment insurance fell by 35,000 last week to 466,000. That's the fewest claims since September last year, and better than the 500,000 that economists had expected.

*The NYSE DOW closed HIGHER +30.69 points +0.29% on Wednesday November 25*
Sym Last........ ........Change.......... 
Dow 10,464.40 +30.69 +0.29% 
Nasdaq 2,176.05 +6.87 +0.32% 
S&P 500 1,110.63 +4.98 +0.45% 
30-yr Bond 4.2380% -0.0190 

NYSE Volume 3,479,942,250  (prior day 4,378,524,000)
Nasdaq Volume 1,415,957,500  (prior day 1,876,441,880)

Oil 76.90 -0.56 -0.72% 
Gold 1,186.90 +21.40 +1.84% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,364.81 +40.85 +0.77% 
DAX 5,803.02 +33.71 +0.58% 
CAC 40 3,809.16 +24.54 +0.65% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,441.64 +40.06 +0.43%  
Hang Seng 22,611.80 +188.66 +0.84%  
Straits Times 2,792.84 +12.86 +0.46% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks rise following drop in jobless claims

Drop in weekly jobless claims, rise in sales of new homes lift investors' hopes for economy*

By Tim Paradis and Ieva M. Augstums, AP Business Writers 
On 4:40 pm EST, Wednesday November 25, 2009 

 NEW YORK (AP) -- Stocks climbed Wednesday following a drop in weekly unemployment claims to the lowest level of the year and a rise in new home sales.

The market's gains were modest on light trading volume ahead of the Thanksgiving holiday.

The government said new claims for unemployment insurance fell by 35,000 last week to 466,000. That's the fewest claims since September last year, and better than the 500,000 that economists had expected.

The drop in claims suggests the job market is healing, but concern remains that the improvement will be temporary as the weak economy continues to push unemployment higher. The jobless rate hit 10.2 percent in October and many analysts believe it will keep rising before starting to improve next summer.

In other economic reports, new home sales rose 6.2 percent to an annual rate of 430,000. That's above what economists surveyed by Thomson Reuters had expected.

Separately, the government also reported consumer spending rose a brisk 0.7 percent last month, following a 0.6 percent drop in September. It was the best showing since August, when the government's now-defunct Cash for Clunkers programs enticed people to buy cars.

Not all the day's news was upbeat. Orders for expensive manufactured goods dropped 0.6 percent last month, the first drop since August. Economists had expected orders would grow.

Doug Roberts, chief investment strategist at Channel Capital Research in Shrewsbury, N.J., said investors are still worried about the sustainability of a recovery but are afraid of missing more of the market's eight-month rally.

"People may not believe in this market but they're reluctantly being pulled into it with each of these reports," he said.

According to preliminary calculations, the Dow Jones industrial average rose 30.69, or 0.3 percent, to 10,464.40.

The broader Standard & Poor's 500 index rose 4.98, or 0.5 percent, to 1,110.63, and the Nasdaq composite index rose 6.87, or 0.3 percent, to 2,176.05.

U.S. markets are closed for Thanksgiving and finishing early on Friday.

The dollar fell against most other major currencies, while gold rose to another record.

A weakening dollar has bolstered commodities and stocks of energy and materials companies, helping pump up their stocks in the market's eight-month rally.

Bond prices were mixed. The benchmark 10-year Treasury note rose, pushing its yield down to 3.27 percent from 3.31 percent late Tuesday. The yield on the three-month T-bill rose to 0.05 percent from 0.03 percent.

The Chicago Board Options Exchange's Volatility Index, known as the market's fear index, fell during trading to 20.05, its lowest level since August 2008. That's a signal that investors are less worried about big swings in the market.

In corporate news, Tiffany & Co. rose after its third-quarter profit topped expectations and the jeweler raised its full-year profit forecast ahead of the holiday shopping season. Tiffany rose $2.06, or 4.9 percent, to $43.89.

That lifted other luxury retailers. Saks Inc. rose 33 cents, or 5.2 percent, to $6.74, while Nordstrom Inc. rose $1.15, or 3.4 percent, to $34.83.

The reports came ahead of the unofficial start of the holiday shopping season on Friday. Investors will be looking for any signals in the coming weeks from retailers about consumer spending, which is the primary driver of the economy.

Light, sweet crude rose $1.94 to settle at $77.96 per barrel on the New York Mercantile Exchange.

Two stocks rose for every one that fell on the New York Stock Exchange, where volume came to 795.1 million shares compared with 963.9 million Tuesday.

Overseas, Japan's Nikkei stock average rose 0.4 percent. Britain's FTSE 100 rose 0.8 percent, Germany's DAX index rose 0.6 percent, and France's CAC-40 rose 0.7 percent.


----------



## bigdog

Source: http://finance.yahoo.com

*U.S. markets were closed Thursday November 26 for Thanksgiving and will be finishing early on Friday November 27.*

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,194.13 -170.68 -3.18% 
DAX 5,614.17 -188.85 -3.25% 
CAC 40 3,679.23 -129.93 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,383.24 -58.40 -0.62%  
Hang Seng 22,210.41 -401.39 -1.78%  
Straits Times 2,762.22 -30.62 -1.10%


----------



## noirua

A break at last in the number one International thread and I hope you wont mind me coming over to tell you about The Bull's Stockies competition. 

Voting is at the following link:  http://www.thebull.com.au/the_stockies_list.php?c=Forums

Just a reminder really, if you've missed it so far and although ASF are in the lead it is being eroded. So we need your help to keep ASF firmly on the map,  Thanks


----------



## bigdog

Source: http://finance.yahoo.com

Week ending 27-Nov-09A surprising sell-off in overseas markets triggered by Dubai debt concerns led to sharp losses in U.S. equity markets on Friday, wiping out the gains made earlier in the week. 

The Dow Jones industrial average closed the week down 8.24, or 0.1 percent, at 10,309.92. The Standard & Poor's 500 index rose 0.11, or less than 0.1 percent, to 1,091.49. The Nasdaq composite index fell 7.60, or 0.4 percent, to 2,138.44.

This was the sideswipe investors had feared.

The stock market is in the middle of one of the great rallies of a generation, but for weeks there has been a nagging fear that bad news was never far off. The news came from Dubai, a wealthy Middle Eastern city-state that many Americans probably couldn't find on a map. Concerns that a government-backed investment company risked defaulting on $60 billion in debt ripped through world markets and served as a reminder of how fragile the financial system remains a year after it nearly collapsed.


*The NYSE DOW closed LOWER -154.48 points -1.48% on Friday November 27*
Sym Last........ ........Change.......... 
Dow 10,309.92 -154.48 -1.48% 
Nasdaq 2,138.44 -37.61 -1.73% 
S&P 500 1,091.49 -19.14 -1.72% 
30-yr Bond 4.2110% -0.0270 

NYSE Volume 2,846,343,000  (prior day 3,479,942,250) -- early close Nov 27
Nasdaq Volume 972,038,750  (prior day 1,415,957,500) -- early close Nov 27

Oil 76.90 -0.56 -0.72% 
Gold 1,186.90 +21.40 +1.84% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,245.73 +51.60 +0.99% 
DAX 5,685.61 +71.44 +1.27% 
CAC 40 3,721.45 +42.22 +1.15% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,081.52 -301.72 -3.22% 
Hang Seng 21,134.50 -1,075.91 -4.84% 
Straits Times 2,762.22 -30.62 -1.10% 


http://finance.yahoo.com/news/Stocks-slide-on-concerns-apf-180958818.html?x=0&.v=27

*Stocks slide on concerns about Dubai debt fallout

US stocks follow world markets lower on concerns Dubai debt problems may hurt economic rebound*

By Tim Paradis, AP Business Writer 
On 4:54 pm EST, Friday November 27, 2009 

 NEW YORK (AP) -- This was the sideswipe investors had feared.

The stock market is in the middle of one of the great rallies of a generation, but for weeks there has been a nagging fear that bad news was never far off. The news came from Dubai, a wealthy Middle Eastern city-state that many Americans probably couldn't find on a map. Concerns that a government-backed investment company risked defaulting on $60 billion in debt ripped through world markets and served as a reminder of how fragile the financial system remains a year after it nearly collapsed.

The Dow Jones industrial average slumped 155 points Friday before trading ended three hours early due to the Thanksgiving holiday. The Dow fell as much as 233 points. The broad retreat from riskier assets pushed Treasury prices higher. The dollar gained against most other major currencies and commodities tumbled.

Now the question that will dog investors over the weekend is whether the markets will shrug off a financial crisis in the Middle East or seek protection in more conservative investments. That could end a rally that has seen the Dow surge 57.5 percent since March 9.

Stocks ended well off their lows but analysts cautioned that the shortened day and scarcity of traders meant the real test for the markets will come next week as traders return from long weekends.

The day's gyrations made clear that investors who might have been buying up stock in the past eight months remain on edge about faults in the financial system and the economy.

Worries about bad debt are fresh in investors' minds after the collapse of the U.S. brokerage Lehman Brothers in September last year kicked the U.S. economy deeper into recession overnight as banks halted lending on fears about the extent of bad loans.

The latest concern is that problems in Dubai, which has drawn wealthy tourists and investors from around the globe in the past decade with its Las Vegas-in-the-Middle East appeal, could imperil a nascent economic rebound around the world. This could happen if banks suffer big losses or confidence falters.

"The biggest risk is a domino effect," said Kevin Shacknofsky, portfolio manager of the Alpine Dynamic Dividend Fund in Purchase, N.Y.

The latest trouble on Wall Street comes as the U.S. kicks off the unofficial start to the holiday shopping season. Investors will be tracking news from retailers for insights into how much consumers will spend in the coming month. Consumer spending is the biggest driver of the U.S. economy.

The Dow fell 154.48, or 1.5 percent, to 10,309.92. It was the Dow's biggest drop since Oct. 30.

The broader Standard & Poor's 500 index fell 19.14, or 1.7 percent, to 1,091.49, and the Nasdaq composite index fell 37.61, or 1.7 percent, to 2,138.44.

For the week, the Dow slipped 0.1 percent, breaking a three-week winning streak. The S&P 500 index rose less than 0.1 percent and the Nasdaq fell 0.4 percent. Stocks are still up sharply for the month and the year.

Analysts were divided over whether Dubai's problems meant more trouble was to come.

Jeffrey Frankel, president of Stuart Frankel & Co. in New York, said U.S. investors were given a chance to digest the news with markets closed on Thanksgiving. Reports of Dubai's problems surfaced during trading on Wednesday and drew little initial reaction.

"It was like we were in a coma for a day and awoke and the worst had passed," he said.

In the past, financial time-bombs have been hard to detect. The subprime mortgage crises that helped tip the U.S. into recession began with small pops that grew louder as the extent of the problems with souring debt became clear.

Earlier this week, Dubai World, the city's main investment arm, said it had asked creditors for a six-month freeze in repaying the debt.

Dubai, part of the United Arab Emirates, has been better known for lavish hotels, palm-shaped islands and indoor skiing, than for financial problems brought by the recession. Whether Dubai's troubles prove to be a hiccup or something worse, investors didn't take chances.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.21 percent from 3.28 percent late Wednesday. The yield on the three-month T-bill, which is considered one of the safest investments, fell to 0.01 percent from 0.03 percent.

The ICE Futures U.S. dollar index, which measures the greenback against a basket of foreign currencies, rose 0.2 percent.

Commodities, which are priced in dollars, fell as the dollar gained. The move reflected an unwinding of trades that relied on a weak dollar to finance purchases of higher-yielding assets. Spooked traders reversing the so-called "carry trade" were demanding safe-haven assets.

Investors have been pushing into riskier assets in recent months as they seek bigger gains. U.S. interest rates are at record lows, making riskier investments like stocks an enticing alternative to the paltry returns of safer investments.

Crude oil fell $1.91 to settle at $76.05 per barrel on the New York Mercantile Exchange after being down by more than $5. Gold fell after a 10-day climb.

European markets, which fell more than 3 percent Thursday, closed higher after an early slide. Britain's FTSE 100 rose 1 percent, Germany's DAX index rose 1.3 percent and France's CAC-40 advanced 1.2 percent.

In Asia, Japan's Nikkei stock average slid 3.2 percent. Hong Kong's Hang Seng index tumbled 4.8 percent. South Korea's benchmark dropped 4.7 percent.

Shacknofsky said the reaction and calming of currency markets and the rebound in Europe was a signal investors are taking Dubai's problems in stride.

"The currency markets and the European markets are telling us that this not as bad as initially thought," he said.

The worries about Dubai erupted amid a period of relative calm in U.S. markets. The Chicago Board Options Exchange's Volatility Index, known as the market's fear index, rose more than 4 percent. On Wednesday it fell to its lowest level since August 2008 after jumping to a record in October last year around the height of the financial crisis. A drop in the VIX signals investors aren't as worried about big swings in the market.

The latest test of the market still leaves major stock indicators up more than 4 percent for the month so analysts said some selling was due. The S&P 500 index is up 61.3 percent from a 12-year low in March.

Trading volume in November has been light as many professional investors have pulled back from markets in hopes of locking in big gains for 2009.

Dave Rovelli, managing director of trading at brokerage Canaccord Adams in New York, said investors have been too quick to assume that the financial markets are on the mend.

"We're way ahead of ourselves in this market. We're in the eye of the storm now and we've been in it since March," he said. "Now we're in the back end of the storm."

Consolidated volume on the New York Stock Exchange came to 2.3 billion shares.

The Russell 2000 index of smaller companies fell 14.98, or 2.5 percent, to 577.21.

The Dow Jones industrial average closed the week down 8.24, or 0.1 percent, at 10,309.92. The Standard & Poor's 500 index rose 0.11, or less than 0.1 percent, to 1,091.49. The Nasdaq composite index fell 7.60, or 0.4 percent, to 2,138.44.

The Russell 2000 index, which tracks the performance of small company stocks, fell 7.47, or 1.3 percent, for the week to 577.21.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,048.12, down 16.66, or 0.2 percent.
8361


----------



## bigdog

http://finance.yahoo.com/news/Dubai...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Dubai looks to oil-rich neighbor for possible aid

Tale of 2 emirates: Dubai's debts and Abu Dhabi's oil-fueled growth*

By Brian Murphy, Associated Press Writer 
On 5:05 pm EST, Saturday November 28, 2009 

DUBAI, United Arab Emirates (AP) -- As world markets absorbed the shock of Dubai's debt crisis, the ruler of the once-booming city-state left town for an important meeting in a desert palace. His hosts: the leaders of neighboring Abu Dhabi whose balance sheets are flush with oil revenue.

It's not known what promises were made inside the halls in Al Ain during the parade of visitors for an important Islamic feast day on Friday. But their new relationship is clear. Abu Dhabi has the cash and cache to be Dubai's white knight -- in a Gulf version of a too-big-to-fail bailout or to help calm markets with promises to intervene if Dubai's fiscal mess deepens.

The direction Abu Dhabi takes will likely set the tone for the coming week as analysts try to sort out what banks and institutions have the most at stake in the money crunch -- which has suddenly shifted Dubai's image from a desert dream factory of indoor ski slopes and a "seven-star" hotel to a reckless spender sideswiped by the recession and unable to pay its bills.

Just this month, Dubai's ruler, Sheik Mohammed bin Rashid Al-Maktoum, assured international investors that all was well with Dubai's finances and told media critics to "shut up."

"Depleting market confidence in Dubai carries serious risks for Abu Dhabi," said Hani Sabra of Eurasia Group, a U.S.-based research firm that assesses political risk for foreign investors in Dubai and the Gulf.

"Differences between the two city-states remain on how to approach the economy and the financial crisis," Sabra added. "But now Abu Dhabi is obviously the more dominant emirate."

Dubai's empty pockets -- mostly drained by collapsing real estate prices and over-ambitious development plans -- touched off panic selling across world markets on fears that the reckoning from the global recession is not over.

In a surprise announcement Wednesday, Dubai said it seeks a six-month delay in paying creditors on nearly $60 billion in debt held by its main development arm, Dubai World, whose holdings range from port operations around the world, Dubai's iconic palm-shaped island and the luxury retailer Barneys New York. The next tranche was a $3.52 billion bond due Dec. 14 by Dubai World's troubled real estate division, Nakheel.

On Friday, the Dow Jones industrial average suffered its biggest drop in nearly a month -- closing down 154.48, or 1.5 percent, to 10,309.92, in a shorted trading day because of the Thanksgiving break. Asian exchanges fell sharply for a second day, but European markets bounced back on confidence the Dubai damage would not spread to other Gulf economies.

Dubai and other Middle East financial markets reopen Monday after an Islamic holiday.

But much attention will remain on Abu Dhabi's response. It stepped in earlier this year with a $10 billion bailout for Dubai when the first blast of the recession hit. Dubai ruler Sheik Mohammed has stressed the close bonds between the two most powerful emirates in the UAE, which celebrates its national day on Wednesday and offers a perfect forum to display unity.

An editorial in The National newspaper -- which is bankrolled by Abu Dhabi and closely reflects the opinions of its rulers -- said Dubai's infrastructure is sound and pointed out General Motors' revival after receiving a U.S.-backed bailout in comments that suggested an unchecked Dubai meltdown could harm the entire country.

"Confidence is a fragile commodity," said the Friday editorial.

Yet Abu Dhabi's largesse may be reaching some limits. On the same day that Dubai announced its debt payment "standstill," two Abu Dhabi-controlled banks bought $5 billion in Dubai bonds for a stopgap cash infusion, but went no further.

"I guess Abu Dhabi is saying there will be no blank check for Dubai," said Jane Kinninmont, a London-based specialist on Gulf economies at the Economist Intelligence Unit.

What Abu Dhabi could get for their money, however, is greater long-term influence over Dubai's development policies. That would essentially mean giving the wealthy and more conservative rulers in the UAE's capital the task of trying to rein in Dubai after years of living beyond its means.

Dubai crash landed about a year ago as the global economic downturn ended a sizzling property boom, which saw prices skyrocket and investors lining up for new projects. The state-backed Dubai World led the charge with a catalog brimming with ever-bigger ideas and the bold motto: "The sun never sets on Dubai World."

Some were completed before the bubble burst, such as the Palm Jumeirah island that included a Hollywood A-list opening of the Atlantis resort in November 2008. But dozens of major projects, including entire mini-cities in the desert, have been shelved.

Abu Dhabi has moved ahead with more caution -- comfortable in the fact it has vast oil wealth that Dubai does not enjoy.

Its rulers have concentrated on what they see as attempts to gain global stature as hub for culture and innovation: funding an alternative energy research center and building satellite museums for the Louvre and Guggenheim. The Abu Dhabi sovereign wealth fund is constantly on the hunt for new investments, including U.S. companies such as Citigroup Inc.

Abu Dhabi's strategists are expected to dig deeper into Dubai World's books before deciding their next move, analysts say.

Dubai officials said plans to restructure Dubai World will not include its profitable ports management division, DP World, which has a presence in nearly 50 facilities around the world. The main retooling will be to Dubai World's battered real estate units, led by Nakheel.

A report from Goldman Sachs said the lenders HSBC Holdings PLC and Standard Chartered PLC could have the most exposure to Dubai debt, but the potential credit losses appeared relatively small. The deeper risks could directly hit Emirates' banks and investment firms.

Christopher Davidson, an expert in Emirate affairs at Britain's Durham University, wondered if Abu Dhabi wanted to become too deeply involved in lifting Dubai from its fiscal wreckage.

"There is no point throwing good money into Dubai's black holes," Davidson said. "These are mistakes of Sheik Mohammed and he needs to deal with them."

Associated Press Writer Barbara Surk contributed to this report.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks spent the afternoon trading with modest losses after rolling over in the early going, but they managed to make a late push into positive ground during the final hour of trade. The move was led by the financial sector, which actually had been unable to provide a lift to the broader market for most of the session. 

Financial stocks outperformed the broader market with relative ease for the entire session. The sector settled with a 2.7% gain, which is more than triple the gain of the next best performing sector, utilities (+0.8%). The financial sector's strength came as banks (BKX 44.48, +1.44) rebounded from the previous session's slide, which came amid concerns regarding the exposure of banks to possible defaults by Dubai World, the corporate flagship of Dubai. Concerns over the matter persisted this morning as reports indicated that the central bank of the United Arab Emirates did not say that it would provide support specifically to Dubai.

The stock market closed out its best month since the summer, posting big gains for November even as investors worried about the strength of the holiday shopping season.

Stocks fluctuated through the day Monday, but finished modestly higher as traders ultimately were not deterred by reports that retail sales were overall uninspiring during the Thanksgiving weekend. Retailers including Macy's Inc. and Saks Inc. fell sharply but online merchants like Amazon.com Inc. shot higher on reports of strong Internet sales.

Despite the tepid finish, the Dow Jones industrial average and the Standard & Poor's 500 index rose more than 5 percent in November, their biggest monthly advance since July.

*The NYSE DOW closed HIGHER +34.92 points +0.34% on Monday November 30*
Sym Last........ ........Change.......... 
Dow 10,344.84 +34.92 +0.34% 
Nasdaq 2,144.60 +6.16 +0.29% 
S&P 500 1,095.63 +4.14 +0.38% 
30-yr Bond 4.1940% -0.0170 

NYSE Volume 4,935,183,500  (prior half day 2,846,343,000)
Nasdaq Volume 2,014,800,000  (prior half day 972,038,750)

Oil 76.90 -0.56 -0.72% 
Gold 1,186.90 +21.40 +1.84% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,190.68 -55.05 -1.05% 
DAX 5,625.95 -59.66 -1.05% 
CAC 40 3,680.15 -41.30 -1.11% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,345.55 +264.03 +2.91%  
Hang Seng 21,821.50 +687.00 +3.25% 
Straits Times 2,732.12 -30.10 -1.09% 

http://finance.yahoo.com/news/Stocks-turn-higher-to-extend-apf-3985650574.html?x=0

*Stocks turn higher to extend month's big gains

Stocks gain as traders look for clues about shoppers; Market caps best month since July*

By Tim Paradis, AP Business Writer 
On 5:03 pm EST, Monday November 30, 2009 

NEW YORK (AP) -- The stock market closed out its best month since the summer, posting big gains for November even as investors worried about the strength of the holiday shopping season.

Stocks fluctuated through the day Monday, but finished modestly higher as traders ultimately were not deterred by reports that retail sales were overall uninspiring during the Thanksgiving weekend. Retailers including Macy's Inc. and Saks Inc. fell sharply but online merchants like Amazon.com Inc. shot higher on reports of strong Internet sales.

Despite the tepid finish, the Dow Jones industrial average and the Standard & Poor's 500 index rose more than 5 percent in November, their biggest monthly advance since July.

Investors might not be surprised that holiday sales are not robust because consumer confidence is low and unemployment is above 10 percent. They also are buying stocks because other investments, such as Treasurys, don't offer the big returns that companies' shares do.

Preliminary figures by ShopperTrak, a research firm that tracks more than 50,000 outlets, showed that sales rose 0.5 percent on Friday, the start to the holiday shopping season. Online sales jumped 11 percent Thursday and Friday, according to comScore, an Internet research firm.

Investors have been worried that rising unemployment would make shoppers reluctant to spend during the holidays. Traders are already looking to the government's November unemployment report, which is due Friday, for clues about how consumers will spend during December and beyond.

The National Retail Federation, a trade group, said Sunday it still expects holiday sales to slip 1 percent compared with last year.

Benny Lorenzo, CEO of the investment bank Kaufman Bros. in New York said investors are cautious about holiday sales so far, but he also pointed to Internet retailers as one area of strength.

"Certainly in a market like this it could've been a lot worse for sure," he said.

A late-day report that Dubai was working on restructuring its debt gave stocks a lift. Investors, satisfied for the moment that credit problems in the Middle Eastern city-state of Dubai would be addressed without spreading, turned their attention to consumers, whose spending is the biggest driver of the U.S. economy.

According to preliminary calculations, the Dow rose 34.92, or 0.3 percent, to 10,344.84. The broader S&P 500 index rose 4.14, or 0.4 percent, to 1,095.63, and the Nasdaq composite index rose 6.16, or 0.3 percent, to 2,144.60.

Three stocks rose for every two that fell on the New York Stock Exchange, where volume came to a moderate 1.3 billion shares.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.20 percent from 3.21 percent late Friday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.06 percent from 0.01 percent.

The dollar fell against other major currencies, while gold rose.

Ethan Anderson, a senior portfolio manager at Rehmann Financial in Grand Rapids, Mich., said record-low interest rates are leaving even hesitant investors with few options for generating decent returns, so they keep buying stocks although they're wary about whether the market can keep rising.

"A lot of investors right now are looking for a reason to get out," he said. "The question is where else can you put your money."

The stock market's modest moves came after stocks tumbled Friday on concern about Dubai's debt problems. The Dow ended with a loss of 155 points after being down more than 200 in the early going.

Investors were initially anxious about the possibility that a debt default by Dubai could touch off a new round of lending problems even as credit markets are still recovering from last year's near-shutdown following the collapse of Lehman Brothers.

The market drew some support from an unexpected improvement at factories. The Chicago Purchasing Managers index, which measures Midwestern manufacturing, rose to 56.1 in November from 54.2 in October. New orders rose and employment improved, while production expansion slowed.

Among retailers, Macy's slid 66 cents, or 3.9 percent, to $16.31, while Target Corp. fell $1.14, or 2.4 percent, to $46.56. Luxury department store Saks Inc. fell 42 cents, or 6.4 percent, to $6.11.

Online sellers advanced. Amazon jumped $4.17, or 3.2 percent, to $135.91, while eBay Inc. rose $1.25, or 5.4 percent, to $24.47.

Most financial stocks rose as fear about Dubai eased but American International Group Inc. tumbled on concerns that the insurer doesn't have adequate reserves to pay some potential claims. Todd Bault, a Sanford Bernstein analyst, said AIG faces an $11 billion shortfall to cover potential claims at its property and casualty insurance business, according to CNBC.

An AIG spokeswoman declined to comment. The stock fell $4.90, or 14.7 percent, to $28.40.

Light, sweet crude rose $1.40 to settle at $77.45 per barrel on the New York Mercantile Exchange after Britain said a racing yacht with five U.K. nationals aboard had been stopped by Iranian naval vessels and that they are now being held in Iran.

Overseas, Britain's FTSE 100, Germany's DAX and France's CAC-40 each lost 1.1 percent. Japan's Nikkei stock average rose 2.9 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Tempered concerns related Dubai's debt debacle prompted participants to put pressure on the U.S. dollar as they rotated into riskier plays. The move favored stocks, which logged impressive, broad-based gains. 

Affirmations from Dubai World that it is working to restructure a smaller load of debt than initially feared helped calm concerns about a potential default by the state-owned conglomerate. On Monday afternoon word had begun to circulate that Dubai wanted to renegotiate the terms of $26 billion in debt, rather than the $60 billion that was first rumored. 

The stock market is picking up where it left off before its scare over debt problems in Dubai.

Major stock indicators rose more than 1 percent Tuesday, including the Dow Jones industrial average, which jumped 126 points and traded above 10,500 for the first time since October of last year.

The weakening dollar again boosted stocks, a pattern that has played out for months. The cheaper U.S. currency drove up commodities prices and lifted the stocks of energy and materials companies that produce them.

*The NYSE DOW closed HIGHER +126.74 points +1.23% on Tuesday December 1*
Sym Last........ ........Change.......... 
Dow 10,471.58 +126.74 +1.23% 
Nasdaq 2,175.81 +31.21 +1.46% 
S&P 500 1,108.86 +13.23 +1.21% 
30-yr Bond 4.2750% +0.0810 

NYSE Volume 4,959,107,500  (prior 4,935,183,500)
Nasdaq Volume 2,186,073,500  (prior 2,014,800,000)

Oil 76.90 -0.56 -0.72% 
Gold 1,186.90 +21.40 +1.84% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,312.17 +121.49 +2.34% 
DAX 5,776.61 +150.66 +2.68% 
CAC 40 3,775.74 +95.59 +2.60% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,572.20 +226.65 +2.43%  
Hang Seng 22,113.15 +291.65 +1.34%  
Straits Times 2,770.95 +38.83 +1.42% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks climb as falling dollar boosts commodities

Stocks rise as dollar slides; reports on housing, construction point to improving economy*

By Tim Paradis and Ieva M. Augstums, AP Business Writers 
On 4:29 pm EST, Tuesday December 1, 2009 

NEW YORK (AP) -- The stock market is picking up where it left off before its scare over debt problems in Dubai.

Major stock indicators rose more than 1 percent Tuesday, including the Dow Jones industrial average, which jumped 126 points and traded above 10,500 for the first time since October of last year.

The weakening dollar again boosted stocks, a pattern that has played out for months. The cheaper U.S. currency drove up commodities prices and lifted the stocks of energy and materials companies that produce them.

Analysts said a mostly upbeat array of economic reports and easing worries about the fallout from debt struggles in Dubai gave investors who had jumped out of the market last week reason to return.

The market's two-day advance leaves the Dow where it was before tumbling Friday on worries that an investment fund in Dubai wouldn't be able to pay its debts and might trigger another financial spiral like the one that followed the collapse of Lehman Brothers last year.

Rick Bensignor, chief market strategist at Execution LLC, said the drop in the dollar and a move into riskier assets like stocks is a sign that investors who moved into defensive positions are no longer worried about a spread of debt problems beyond the Middle East.

"The market has essentially shaken it off," he said. "The whole move is as if nothing happened last week."

Economic reports were mixed, but still pointed to a strengthening trend. The Institute for Supply Management, a trade group, said overall manufacturing activity grew at a slower pace in November but that new orders rose. That signals activity could pick up in the coming months. The ISM's measure of employment grew for the second straight month after sliding for more than a year.

The snapshot of U.S. factories followed a report from a Chinese industry group that said manufacturing activity grew in November for the ninth consecutive month.

Meanwhile, the National Association of Realtors said its reading on pending home sales rose in October to the strongest level since March 2006. Economists had expected pending sales to fall.

The Commerce Department said construction spending edged higher in October, the first increase in six months.

The reports gave investors more confidence that a nearly nine-month rally in the stock market still has legs thanks to continued signs of expansion in the economy. The Dow jumped 6.5 percent in November, its best monthly gain since July, and it's up 60 percent from a 12-year low of 6,547.05 in March.

According to preliminary calculations, the Dow rose 126.74, or 1.2 percent, to 10,471.58, its highest close since October last year.

The broader Standard & Poor's 500 index gained 13.23, or 1.2 percent, to 1,108.86, while the Nasdaq composite index rose 31.21, or 1.5 percent, to 2,175.81.

The ICE Futures U.S. dollar index, which measures the greenback against a basket of foreign currencies, fell 0.5 percent.

Crude oil rose $1.09 to settle at $78.37 per barrel on the New York Mercantile Exchange. Gold rose.

Bob Froehlich, senior managing director at Hartford Financial Services, said the day's news addressed some of investors' biggest worries: employment, housing and China's economy.

"What we're seeing is that we've got two of those three fixed," he said. "There are signs everywhere you look that the worst is behind us."

Froehlich said he expects the nation's unemployment rate, already above 10 percent, will worsen before it begins to improve.

Industrial names rose as commodities advanced after the reports on manufacturing and construction.

Aluminum producer Alcoa Inc. rose 28 cents, or 2.2 percent, to $12.80. Freeport-McMoRan Copper & Gold Inc. rose $1.11, or 1.3 percent, to $83.91.

Energy stocks also rose. Schlumberger Ltd., which provides services to oil companies, rose 76 cents, or 1.2 percent, to $64.65.

Home builders climbed on the day's economic reports. Beazer Homes USA Inc. advanced 16 cents, or 3.7 percent, to $4.46. Pulte Homes Inc. rose 17 cents, or 1.9 percent, to $9.31.

Richard Ross, global technical strategist at Auerbach Grayson in New York, said investors aren't willing to give up on the market's surge even if they have concerns it might be overdone.

"It speaks to that sort of bullish undercurrent," he said. "Whether it's misplaced optimism, that's another question."

Four stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.1 billion shares compared with 1.3 billion Monday.

The Russell 2000 index of smaller companies rose 9.47, or 1.6 percent, to 589.20.

Overseas markets jumped as fears eased about Dubai's credit problems. The emirate's government investment company said it was looking at restructuring part of its $60 billion in debt.

Britain's FTSE 100 rose 2.3 percent, Germany's DAX index advanced 2.7 percent, and France's CAC-40 rose 2.6 percent. Japan's Nikkei stock average added 2.4 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Some early buying sent the S&P 500 up to a fractionally better 2009 high, but a lack of support left stocks to roll over and settle at the neutral line. A firmer U.S. dollar also dragged down interest in stocks. 

Despite a tepid tone to premarket trade, stocks made their way to solid gains in the early going. Materials stocks (+1.1%) were leaders, yet again, as precious metals prices continued to push higher. In fact, gold hit a new record high near $1218 per ounce overnight. It closed pit trade slightly off of that mark with a 1.1% gain at $1213 per ounce. 

The stock market struggled but held its ground Wednesday as an upbeat assessment of the economy from the Federal Reserve offset drops in bank and energy stocks.

Most stocks finished higher after the Fed said regional economic activity has generally improved since its last snapshot in October. The central bank said consumers have increased spending even as employment and commercial real estate remain weak.

The Dow Jones industrial average slipped 19 points after gaining 162 points in the first two days of the week. Reports of analysts' warnings about bank stocks hurt financial shares, while a steep drop in oil weighed on energy companies.


*The NYSE DOW closed LOWER -18.90 points -0.18% on Wednesday December 2*
Sym Last........ ........Change.......... 
Dow 10,452.68 -18.90 -0.18% 
Nasdaq 2,185.03 +9.22 +0.42% 
S&P 500 1,109.24 +0.38 +0.03% 
30-yr Bond 4.2740% -0.0010 

NYSE Volume 4,601,624,500  (prior 4,959,107,500)
Nasdaq Volume 2,081,951,620  (prior 2,186,073,500)

Oil 76.90 -0.56 -0.72% 
Gold 1,186.90 +21.40 +1.84% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,327.39 +15.22 +0.29% 
DAX 5,781.68 +5.07 +0.09% 
CAC 40 3,795.92 +20.18 +0.53% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,608.94 +36.74 +0.38%  
Hang Seng 22,289.57 +176.42 +0.80%  
Straits Times 2,796.34 +25.39 +0.92% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks mostly rise as Fed sees improving economy

Most stocks climb as Fed says economy has improved, ADP report shows job losses declining*
By Sara Lepro and Tim Paradis, AP Business Writers 
On 5:38 pm EST, Wednesday December 2, 2009 

NEW YORK (AP) -- The stock market struggled but held its ground Wednesday as an upbeat assessment of the economy from the Federal Reserve offset drops in bank and energy stocks.

Most stocks finished higher after the Fed said regional economic activity has generally improved since its last snapshot in October. The central bank said consumers have increased spending even as employment and commercial real estate remain weak.

The Dow Jones industrial average slipped 19 points after gaining 162 points in the first two days of the week. Reports of analysts' warnings about bank stocks hurt financial shares, while a steep drop in oil weighed on energy companies.

A mixed reading on the labor market kept trading subdued. The ADP National Employment Report said private companies cut 169,000 jobs in November, fewer than in October but worse than the 160,000 cuts expected by economists polled by Thomson Reuters. It was the eighth monthly drop.

Investors are focused on the job market, which remains weak despite signs of life in manufacturing, housing and other parts of the economy.

"It all falls apart if you don't get jobs to come around," said Bill Stone, chief investment strategist at PNC Wealth Management.

The ADP report doesn't represent the entire economy but is often seen as a good indicator of what will emerge in the government's monthly employment report, which is due on Friday. Economists are expecting the unemployment rate remained flat at 10.2 percent in November.

A rising dollar also cooled the market's advance.

Investors are struggling to determine whether the massive gains in the stock market since early March are justified by an improving economy or if they're overdone. Analysts have been worried that the nascent recovery could be threatened by economic problems overseas or missteps by the government and the resulting gyrations in the dollar. Concerns over a potential debt crisis in the Middle Eastern city-state of Dubai pushed stock markets lower last week.

The Dow fell 18.90, or 0.2 percent, to 10,452.68, pulling off of a 14-month high reached Tuesday. The Standard & Poor's 500 index edged up 0.38, or less than 0.1 percent, to 1,109.24, and the Nasdaq composite index rose 9.22, or 0.4 percent, to 2,185.03.

Two stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1 billion shares compared with 1.1 billion Tuesday.

The listless trading followed modest gains Monday and a surge Tuesday driven by a weaker dollar and higher commodities prices. A months-long slide in the dollar, the result of rock-bottom interest rates, has encouraged investors to buy riskier assets that have the potential to earn better returns.

Analysts say trading likely will remain choppy through the rest of the year as some investors look to lock in the gains they've amassed in the rally since March.

Trading in foreign exchange, commodities and debt markets was mixed as traders remained cautious.

"People don't know where to go," Stone said. "That wait-and-see attitude has kicked in."

The ICE Futures US dollar index, which measures the dollar against other major currencies, edged up 0.3 percent.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.31 percent from 3.29 percent late Tuesday.

Gold surged to a record $1,218.40 an ounce. Oil prices fell $1.77 to settle at $76.60 a barrel on the New York Mercantile Exchange after the Energy Department said demand for gasoline fell during the Thanksgiving week, when gas sales usually rise because of holiday travel.

Among financial stocks, Bank of America fell 24 cents, or 1.5 percent, to $15.65, while Wells Fargo & Co. slid 54 cents, or 1.9 percent, to $27.45 on reports that some analysts voiced concerns about industry profits next year.

Meanwhile, Chesapeake Energy Corp. fell 70 cents, or 2.9 percent, to $23.40 as oil fell. Occidental Petroleum Corp. slid 97 cents, or 1.2 percent, to $81.21.

The Russell 2000 index of smaller companies rose 6.89, or 1.2 percent, to 596.09.

Overseas, Britain's FTSE 100 gained 0.3 percent, Germany's DAX index rose 0.1 percent, and France's CAC-40 added 0.5 percent. Japan's Nikkei stock average rose 0.4 percent.


----------



## bigdog

Source: http://finance.yahoo.com

A late-day slide pulled stocks lower ahead of the government's report on November unemployment.

Stocks began falling in the final half-hour of trading Thursday and the drop intensified in the last 20 minutes. The Labor Department's November unemployment report is due before the start of trading Friday.

Worries about the economy had been dogging investors following a weak snapshot of the service industry early Thursday. The Institute for Supply Management said its index of activity in the service industry fell to 48.7 in November from 50.6 in October. That was below what analysts had been expecting and signaled contraction.


*The NYSE DOW closed LOWER -86.53  points -0.83% on Thursday December 3*
Sym Last........ ........Change.......... 
Dow 10,366.15 -86.53 -0.83% 
Nasdaq 2,173.14 -11.89 -0.54% 
S&P 500 1,099.92 -9.32 -0.84% 
30-yr Bond 4.3290% +0.0550 

NYSE Volume  5,556,672,000 (prior 4,601,624,500)
Nasdaq Volume 2,023,405,000  (prior 2,081,951,620)

Oil 76.90 -0.56 -0.72% 
Gold 1,186.90 +21.40 +1.84% 

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,313.00 -14.39 -0.27% 
DAX 5,770.35 -11.33 -0.20% 
CAC 40 3,799.11 +3.19 +0.08% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,977.67 +368.73 +3.84%  
Hang Seng 22,553.87 +264.30 +1.19%  
Straits Times 2,808.18 +11.84 +0.42%

http://finance.yahoo.com/news/Lated...tml?x=0&sec=topStories&pos=main&asset=&ccode=

Late-day slide hits stocks ahead of jobs report
Stocks slide ahead of November jobs report; service industry report renews economic worries

By Tim Paradis, AP Business Writer 
On 4:59 pm EST, Thursday December 3, 2009 
       Buzz up! 1 Print
 Companies:Bank Of America CorporationComcast CorporationGeneral Electric Co. 
NEW YORK (AP) -- A late-day slide pulled stocks lower ahead of the government's report on November unemployment.

Stocks began falling in the final half-hour of trading Thursday and the drop intensified in the last 20 minutes. The Labor Department's November unemployment report is due before the start of trading Friday.

Worries about the economy had been dogging investors following a weak snapshot of the service industry early Thursday. The Institute for Supply Management said its index of activity in the service industry fell to 48.7 in November from 50.6 in October. That was below what analysts had been expecting and signaled contraction.

The market drew some support from a Labor Department report that new claims for unemployment benefits fell unexpectedly for the fifth straight week.

The number of laid-off workers seeking unemployment benefits fell by 5,000 last week, in a hopeful sign of improvement in the job market. Economists had expected an increase, according to a survey by Thomson Reuters.

The Nasdaq composite index saw more modest losses after Comcast Corp. said it agreed to buy a majority stake in NBC Universal for $13.75 billion. The long-awaited deal gives the nation's largest cable TV operator control of the TV network as well as several cable channels and a major movie studio.

The stock market's drop followed steep gains early in the week and mixed trading Tuesday. A surge in stocks has lasted nearly nine months and some analysts worry that the market's advance is outpacing gains in the economy.

According to preliminary calculations, the Dow Jones industrial average fell 86.53, or 0.8 percent, to 10,366.15. The broader Standard & Poor's 500 index fell 9.32, or 0.8 percent, to 1,099.92, while the Nasdaq composite index fell 11.89, or 0.5 percent, to 2,173.14.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.38 percent from 3.32 percent late Wednesday.

The dollar mostly rose against other major currencies, while gold rose.

Crude oil fell 14 cents to settle at $76.46 on the New York Mercantile Exchange.

Burt White, chief investment officer at LPL Financial in Boston, said the occasional downbeat economic reports aren't likely to derail the market as investors continue to see longer-term improvements in the economy.

"We do hit some speed bumps on the road and today we hit a couple, especially with ISM, but we're still pretty bullish that stocks have a way to go," he said.

Federal Reserve Chairman Ben Bernanke appeared on Capitol Hill for confirmation hearings for a second, four-year term. Bernanke told the Senate Banking Committee that he would work with lawmakers to reshape the country's financial regulatory setup as well as to rein in supports for the economy as a recovery takes hold.

Shares of Comcast rose $1.06, or 7.5 percent, to $15.24. General Electric Co., NBC's parent since 1986, fell 7 cents to $16.

Bank of America rose 11 cents to $15.76 after announcing late Wednesday it would repay its $45 billion in government bailout money.

Two stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.1 billion shares compared with 1 billion Wednesday.

The Russell 2000 index of smaller companies fell 7.31, or 1.2 percent, to 588.78.

Overseas, Britain's FTSE 100 fell 0.3 percent, while Germany's DAX index fell 0.2 percent, and France's CAC-40 rose 0.1 percent. Japan's Nikkei stock average rose 3.8 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 78.98, or 0.8 percent, at 10,388.90. The Standard & Poor's 500 index rose 14.49, or 1.3 percent, to 1,105.98. The Nasdaq composite index rose 55.91, or 2.6 percent, to 2,194.35.

Better-than-expected unemployment numbers prompted participants to drive stocks to new 2009 highs in the early going, but the news was quickly sold. In turn, Friday made for the third straight session that stocks set fractionally better 2009 highs, but failed to sustain gains. 

Investors grew more confident about the economy but also worried that a brighter employment picture will mean rising interest rates.

Stocks closed higher Friday but only after giving up much of their earlier gains. Indexes touched new highs for year in the morning following news that job cuts fell sharply in November, but that report also brought expectations that the Federal Reserve could hike rates or remove other supports from the economy. Treasurys and gold fell as demand for safe-haven investments eased.

Jitters about interest rates left the Dow Jones industrial average with a gain of just 23 points, having been up as much as 151 points earlier. Stocks rose for the week.

*The NYSE DOW closed HIGHER +22.75 points +0.22% on Friday December 4*
Sym Last........ ........Change.......... 
Dow 10,388.90 +22.75 +0.22% 
Nasdaq 2,194.35 +21.21 +0.98% 
S&P 500 1,105.98 +6.06 +0.55% 
30-yr Bond 4.4130% +0.0840 

NYSE Volume 7,250,836,000 (prior 5,556,672,000) 
Nasdaq Volume 2,340,521,000 (prior 2,023,405,000) 

Oil 76.90 -0.56 -0.72% 
Gold 1,186.90 +21.40 +1.84% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,322.36 +9.36 +0.18% 
DAX 5,817.65 +47.30 +0.82% 
CAC 40 3,846.62 +47.51 +1.25% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,022.59 +44.92 +0.45% 
Hang Seng 22,498.15 -55.72 -0.25% 
Straits Times 2,791.01 -17.17 -0.61% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks climb as employers cut fewer jobs

Stocks rise as better jobs picture leads to worries that Fed will take away economic supports*

By Tim Paradis, AP Business Writer 
On 5:53 pm EST, Friday December 4, 2009 

 NEW YORK (AP) -- Investors grew more confident about the economy but also worried that a brighter employment picture will mean rising interest rates.

Stocks closed higher Friday but only after giving up much of their earlier gains. Indexes touched new highs for year in the morning following news that job cuts fell sharply in November, but that report also brought expectations that the Federal Reserve could hike rates or remove other supports from the economy. Treasurys and gold fell as demand for safe-haven investments eased.

Jitters about interest rates left the Dow Jones industrial average with a gain of just 23 points, having been up as much as 151 points earlier. Stocks rose for the week.

The prospects of increased rates also led to a sharp rise in the dollar, which hurt prices for commodities including oil.

The Labor Department said the economy shed 11,000 jobs last month, the smallest monthly loss since December 2007, when the recession began. That's much better than the 130,000 losses Wall Street economists expected and an improvement from 111,000 jobs cuts in October.

The unemployment rate fell to 10 percent from a 26-year high of 10.2 percent in October. Economists had expected the rate to remain unchanged.

Stocks have been rising for nine months on hopes of a recovery, but investors have been worried that lingering unemployment would hold the economy back. The gains in stocks also come as the Fed's policy of low interest rates and extraordinary supports for the financial system have flooded financial markets with cash. Investors are now on edge about how markets will respond when policymakers begin to withdraw some of those measures.

Phil Orlando, chief equity market strategist at Federated Investors in New York, said the jobs report could draw investors into the market who had been skeptical about how well the economy was doing.

"This number was just phenomenal," said Phil Orlando, chief equity market strategist at Federated Investors in New York. "That sound you heard was bears fainting all across America and hitting their head on the pavement."

The Dow ended with a gain of 22.75, or 0.2 percent, to 10,388.90 after reaching a 2009 high of 10,516.70 in early trading. The Dow lagged broader indexes after DuPont, the chemicals company, warned it would delay release of several products.

The Standard & Poor's 500 index rose 6.06, or 0.6 percent, to 1,105.98, after setting a 2009 high of 1,119.13.

The Nasdaq composite index rose 21.21, or 1 percent, to 2,194.35, reaching a high for the year of 2,214.39.

For the week, the Dow rose 0.8 percent, the S&P 500 index added 1.3 percent and the Nasdaq advanced 2.6 percent.

The jobs report weighed on bond prices, pushing yields higher. The benchmark 10-year Treasury note fell about a point, pushing its yield up to 3.48 percent from 3.38 percent late Thursday.

A rise in the dollar held back an advance on the stock market. For months, stocks have fallen when the dollar strengthens because a rising greenback makes commodities more expensive for foreign buyers and can eat into the profits U.S. companies collect from overseas.

The ICE Futures U.S. dollar index, which measures the greenback against a basket of foreign currencies, rose 1.4 percent.

Gold fell $78.80 to $1,169.50 an ounce on the New York Mercantile Exchange. Meanwhile, crude oil fell 99 cents to settle at a seven-week low of $75.47 a barrel.

Charlie Smith, chief investment officer at Fort Pitt Capital in Pittsburgh, said some traders are worrying that the Fed will try to wean big banks from low-cost loans and disrupt trades that have been profitable this year. He contends that spoiling the easy trades could prompt banks to boost lending as they look for more places to put their money.

"It forces the bankers to be bankers instead of just sort of taking the free money from the Fed and buying Treasurys with it," Smith said.

The week began as the market closed a strong November. The S&P 500 index advanced 5.7 percent for the month, its biggest increase since July. The index, which is used to measure many investments like mutual funds, has risen 63.5 percent from a 12-year low in March.

Stocks recovered during the week from worries that debt problems in the Middle Eastern city-state of Dubai would trigger a wave of credit problems like the kind that felled the brokerage Lehman Brothers last year.

Investors will have fewer economic reports to go on next week, but are likely to again take cues from the direction of the dollar. Reports are due on retail sales and consumer sentiment.

Among stocks, DuPont fell $2.49, or 7.2 percent, to $32.34 after the company said it would delay release of certain corn and soybean seeds.

Two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 6 billion shares compared with 4.9 billion Thursday.

The Russell 2000 index of smaller companies rose 14.01, or 2.4 percent, to 602.79.

Overseas, Britain's FTSE 100 rose 0.2 percent, Germany's DAX index rose 0.8 percent, and France's CAC-40 jumped 1.3 percent. Japan's Nikkei stock average rose 0.5 percent.

The Dow Jones industrial average closed the week up 78.98, or 0.8 percent, at 10,388.90. The Standard & Poor's 500 index rose 14.49, or 1.3 percent, to 1,105.98. The Nasdaq composite index rose 55.91, or 2.6 percent, to 2,194.35.

The Russell 2000 index, which tracks the performance of small company stocks, rose 25.58, or 4.4 percent, for the week to 602.79.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,231.20, up 183.08, or 1.7 percent.
8798


----------



## bigdog

Source: http://finance.yahoo.com

Stocks spent the entire session mired in weakness as cautionary comments about the U.S. debt rating and strength in the U.S. dollar weighed on the minds of participants. Broader sentiment remains mixed, though, as participants continue to assess the market's near-term direction. 
Investors dumped stocks and sought safe-haven assets like the dollar and Treasurys on signs that the global economy is still struggling.

The Dow Jones industrial average lost 104 points Tuesday but recovered some of its earlier losses.

A disappointing earnings forecast from Dow Jones industrials component 3M Co. and a weak sales report from McDonald's Corp., another Dow company, pulled stocks lower. The reports overshadowed an increased profit forecast from FedEx Corp.

*The NYSE DOW closed LOWER -104.14 points -1.00%  on Tuesday December 8*
Sym Last........ ........Change.......... 
Dow 10,285.97 -104.14 -1.00% 
Nasdaq 2,172.99 -16.62 -0.76% 
S&P 500 1,091.94 -11.31 -1.03% 
30-yr Bond 4.3800% -0.0260 

NYSE Volume 5,426,381,000 
Nasdaq Volume 2,008,919,750 

Oil 76.90 -0.56 -0.72% 
Gold 1,186.90 +21.40 +1.84% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,223.13 -87.53 -1.65% 
DAX 5,688.58 -96.17 -1.66% 
CAC 40 3,785.30 -54.75 -1.43% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,140.47 -27.13 -0.27%  
Hang Seng 22,060.52 -264.44 -1.18%  
Straits Times 2,805.50 +8.52 +0.30% 

http://finance.yahoo.com/news/Stock-market-drops-as-dollar-apf-2963584558.html?x=0

*Stock market drops as dollar strengthens

Stocks slump as dollar strengthens, investors seek safe havens; Dow industrials fall 104*
By Sara Lepro and Tim Paradis, AP Business Writers 
On 4:28 pm EST, Tuesday December 8, 2009 

NEW YORK (AP) -- Investors dumped stocks and sought safe-haven assets like the dollar and Treasurys on signs that the global economy is still struggling.

The Dow Jones industrial average lost 104 points Tuesday but recovered some of its earlier losses.

A disappointing earnings forecast from Dow Jones industrials component 3M Co. and a weak sales report from McDonald's Corp., another Dow company, pulled stocks lower. The reports overshadowed an increased profit forecast from FedEx Corp.

Reports in Britain and Germany signaled that manufacturing remains weak, while Japan's government approved $81 billion in stimulus measures to keep its economy out of recession. Credit rating agencies warned about debt problems in Dubai and Greece.

Investors sent the dollar and Treasury prices higher in response to the day's news. Commodities fell as the dollar rose. A stronger dollar makes commodities more expensive for buyers overseas, and hurts profits at companies that have large international operations.

After the huge rally in stocks and commodities this year, investors are looking for clues about where the economy is headed and how best to position their portfolios for next year. Investors are uncertain of how long the environment of low interest rates and a weak dollar that helped fuel the market's rally will last.

Philip S. Dow, managing director of equity strategy at RBC Wealth Management in Minneapolis, said 3M's forecast drew attention from FedEx and that the day's retreat is in order after the steep gains in stocks over all.

"People were so enthused with FedEx then got a little disappointed with 3M," he said. "I just think it's a rest."

At the same time, there are still plenty of doubts about the economic recovery to drive cautious investors to pad their portfolios with safe havens. With the Standard & Poor's 500 index up 63.1 percent since early March, many investors are looking to protect their gains.

Stocks came off their lows of the day as President Barack Obama proposed spending on infrastructure projects as well as increased tax cuts for small businesses.

The speech comes after the government's unemployment report Friday showed far fewer job losses in November than expected. However investors still have doubts about how strong a recovery will be with one in 10 Americans out of work.

According to preliminary calculations, the Dow fell 104.14, or 1 percent, to 10,285.97. The Dow fell as much as 140 points.

The broader Standard & Poor's 500 index fell 11.31, or 1 percent, to 1,091.94, while the Nasdaq composite index fell 16.62, or 0.8 percent, to 2,172.99.

Stocks finished little changed on Monday after reassurance from Fed Chairman Ben Bernanke that interest rates will remain low to support a recovery failed to galvanize investors.

Shares of 3M fell after the consumer products maker predicted adjusted earnings of $4.50 to $4.55 per share for the full year. That's below a profit of $4.57 per share forecast by analysts. The stock fell 80 cents, or 1 percent, to $77.11.

McDonald's fell $1.32, or 2.1 percent, to $60.61 after the world's largest fast-food chain said monthly sales in the U.S. fell in November.

FedEx raised its earnings forecast for the November quarter late Monday. Shares of the package delivery company rose $2.36, or 2.7 percent, to $89.88. Investors watch FedEx because the volume of its business is seen as an indicator of the overall strength of the economy.

The Kroger Co. tumbled $2.72, or 11.9 percent, to $20.13 after the nation's largest grocery chain posted an unexpected loss and lowered its sales and profit forecasts for the year as price competition cuts into its business.

Beyond the corporate news, analysts said the rising dollar dominated trading.

Peter Cardillo, chief market economist at the brokerage Avalon Partners Inc. in New York, predicts the dollar will resume its slide and remove pressure from stocks.

"This is a short-term correction in the dollar and the same with the other markets and I don't think it's going to be long-lasting," he said.

The slump in stocks and gains in Treasurys came as credit rating agencies pointed to what they saw as ominous debt loads around the world. One agency cut its ratings on six Dubai state-linked companies due to worries about their growing debts. Two weeks ago debt problems in Dubai pushed world markets down sharply as investors worried that the troubles would unleash a wave of failing debt.

Meanwhile, Fitch Ratings lowered Greece's credit rating Tuesday because of growing debt.

Moody's Investors Services also said the state of public finances in the U.S. and Britain are troubling.

Bond prices rose, sending yields lower. The yield on the benchmark 10-year Treasury note fell to 3.39 percent from 3.43 percent late Monday.

The ICE Futures US dollar index, which tracks the dollar against other major currencies, rose 0.6 percent.

Gold prices fell for a third straight day.

Crude oil fell $1.31 to settle at $72.62 per barrel on the New York Mercantile Exchange.

More than two stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.1 billion shares compared with 1.1 billion shares Monday.

The Russell 2000 index of smaller companies fell 5.86, or 1 percent, to 597.70.

Overseas, Britain's FTSE 100 fell 1.7 percent, Germany's DAX index slid 1.7 percent, and France's CAC-40 fell 1.4 percent. Japan's Nikkei stock average fell 0.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Frequent swings by the U.S. dollar caused stocks to spend most of the session chopping along in a relatively narrow range, but some late support helped the major equity averages make modest gains. Still, the action hasn't provided any clarity to the market's near-term direction. 

Stocks slipped in early trade as the greenback trimmed its losses against competing currencies. The dollar's move came as word surfaced that Standard & Poor's revised its outlook for Spain to negative from stable. The news release came a day after Greece's credit rating was cut by Fitch and Moody's made cautionary comments regarding the potential consequences of the ballooning deficits of the U.S. and U.K

Investors set aside some of their concerns about mounting debt levels around the world and looked for bargains after a two-day slide in stocks.

Stocks turned higher late Wednesday after a day of back-and-forth trading. Investors have been cautious about rising government debt levels in Spain, Greece and other countries.

The Dow Jones industrial average rose 51 points to regain about half of what it lost a day earlier.

*The NYSE DOW closed HIGHER +51.08 points +0.50% on Wednesday December 9*
Sym Last........ ........Change.......... 
Dow 10,337.05 +51.08 +0.50% 
Nasdaq 2,183.73 +10.74 +0.49% 
S&P 500 1,095.95 +4.01 +0.37% 
30-yr Bond 4.41% +0.03 

NYSE Volume 4,798,440,500 (prior 5,426,381,000) 
Nasdaq Volume 1,917,442,000 (prior 2,008,919,750) 

Oil 76.90 -0.56 -0.72% 
Gold 1,186.90 +21.40 +1.84% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,203.89 -19.24 -0.37% 
DAX 5,647.84 -40.74 -0.72% 
CAC 40 3,757.39 -27.91 -0.74% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,004.72 -135.75 -1.34%  
Hang Seng 21,741.76 -318.76 -1.44%  
Straits Times 2,797.21 -8.29 -0.30% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks climb as investors shrug off debt concerns

Stocks advance after slide as investors look past concerns about global debt; Dow adds 51*

By Sara Lepro and Tim Paradis, AP Business Writers 
On 4:42 pm EST, Wednesday December 9, 2009 

NEW YORK (AP) -- Investors set aside some of their concerns about mounting debt levels around the world and looked for bargains after a two-day slide in stocks.

Stocks turned higher late Wednesday after a day of back-and-forth trading. Investors have been cautious about rising government debt levels in Spain, Greece and other countries.

The Dow Jones industrial average rose 51 points to regain about half of what it lost a day earlier.

Investors spent much of the day looking for safety following a decision by credit rating agency Standard & Poor's to reduce the outlook on Spain's debt rating.

S&P's move came a day after another agency lowered its credit rating on Greece's government. Investors have been watchful for other signs of problems with global debt ever since a state-run company in Dubai shocked investors two weeks ago by asking its creditors for a debt reprieve.

Meanwhile, stocks again followed moves in the dollar, as they have for months. When it falls, the dollar makes commodities cheaper for foreign buyers and increase profits for U.S. companies that do business outside the U.S.

The dollar has steadied this week against other major currencies, interrupting a steady drop since March. The greenback has fallen as investors take advantage of cheap financing to invest in riskier, higher-yielding assets like stocks and commodities. Signs that the economy is improving have cut into demand for safe-haven investments.

In recent weeks, however, investors have been shuttling between buying stocks and hoarding cash as they try to lock in some of the big gains they've amassed in stocks since a rally started in March.

As the end of the year approaches, many investors have been building up defensive investments like Treasurys. The uncertain tone in the market, combined with light trading volume, has made for choppy trading, which analysts expect to continue through the rest of the year.

Tom Phillips, president of TS Phillips Investments in Oklahoma City, said he expects the dollar will lose its pull over the stock market because so many traders have placed bets that the currency will fall and boost stocks.

"When everybody understands the game the game doesn't work as well," he said. "I think it will just fray and start to erode."

According to preliminary calculations, the Dow rose 51.08, or 0.5 percent, to 10,337.05 after falling 104 on Tuesday. The S&P 500 index rose 4.01, or 0.4 percent, to 1,095.95, while the Nasdaq composite index rose 10.74, or 0.5 percent, to 2,183.73.

The ICE Futures US dollar index, which tracks the dollar against other major currencies, fell 0.3 percent.

Investors grew concerned that heavy debt loads in countries like Greece and Spain as well as the U.S. and Britain could signal that the threat of defaults and higher borrowing costs could upend a nascent global economic rebound.

While investors want to see the economy grow, they also know that the Federal Reserve could raise interest rates and remove other stimulus measures once the economy appears to be on solid footing. Higher rates could make stocks look less appealing as returns for other investments improve, potentially upsetting a nine-month advance in stocks that has lifted the S&P 500 index by 61.4 percent.

Not all the day's news was downbeat. The Commerce Department reported that businesses added to inventories at the wholesale level in October after a record 13 straight months of reductions. Investors hope it is a sign that businesses will soon start restocking store shelves. Wholesale inventories rose 0.3 percent in October; economists had expected a 0.5 percent drop.

Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors in Albany, N.Y., said signs of improvement in the economy are disrupting advances in the markets because traders predict the Fed will be forced to raise interest rates sooner than expected to keep inflation in check.

The government reported Friday that employers cut the fewest jobs in November since the recession began two years ago. The figures were far better than expected and prompted a re-evaluation of where the Fed stands, despite comments from Fed Chairman Ben Bernanke that interest rates will remain low.

"That's going to be tough to defend," Johnson said, referring to the Fed's stance on rates. "That's why investors have started to rethink all of the things that have made money over the past nine months."

In other trading, Treasurys fell, sending yields higher. The yield on the benchmark 10-year Treasury note rose to 3.44 percent from 3.39 percent late Tuesday.

An analyst upgrade of manufacturing conglomerate 3M Co. helped lift the Dow industrials after it dragged the index down after issuing a profit forecast that disappointed investors. 3M rose $2.63, or 3.4 percent, to $79.74.

Gold slid, while oil fell $1.95 to settle at $70.67 per barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 0.33, or 0.1 percent, to 598.03.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where volume to 1.1 billion shares compared with 1.2 billion Tuesday.

Overseas, Britain's FTSE 100 fell 0.4 percent, Germany's DAX index and France's CAC-40 each lost 0.7 percent. Japan's Nikkei stock average fell 1.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks spent the session in a sideways chop, but managed to settle with solid gains. The advance came in the face of modest strength in the U.S. dollar, weakness among financial issues, and a mixed weekly jobless claims report. Participation lacked for most of the session, though. 

Trade was choppy for the entire session, but that didn't take stocks out of a relatively narrow range, nor did it derail a broad-based advance. There was a flurry of selling late in the session that caused stocks to surrender some of their gains, but the broader market was able to garner support as the S&P 500 came in contact with the 1100 mark. 

In the end, advancing issues outnumbered decliners by more than 2-to-1. As broad as the advance was, it was even more impressive since it came despite a stronger dollar. Gains by the greenback have most often led to selling in the stock market, due to the drag of a stronger dollar on commodity prices and repatriated profits from multinationals, but stocks were able to hold their gains as the Dollar Index worked its way to a 0.1% gain. 

Stock indexes rose Thursday as a jump in exports offset concerns about an increase in weekly unemployment claims.

A weaker dollar is lifting demand for U.S. goods, which become less expensive for foreign buyers when the greenback falls. The Commerce Department said a rise in exports helped narrow the nation's trade gap to $32.9 billion in October. Economists had been expecting an increase. Exports rose 2.5 percent, the sixth straight monthly increase.

James Cox, managing partner at Harris Financial Group in Colonial Heights, Va., said the increased demand for U.S. goods will help boost the nation's economy.

*The NYSE DOW closed HIGHER +68.78 points +0.67% on Thursday December 10*
Sym Last........ ........Change.......... 
Dow 10,405.83 +68.78 +0.67% 
Nasdaq 2,190.86 +7.13 +0.33% 
S&P 500 1,102.35 +6.40 +0.58% 
30-yr Bond 4.4920% +0.0840 

NYSE Volume 4,598,088,000 (prior 4,798,440,500)
Nasdaq Volume 1,950,550,880 (prior 1,917,442,000)

Oil 76.90 -0.56 -0.72% 
Gold 1,186.90 +21.40 +1.84% 


*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,244.37 +40.48 +0.78% 
DAX 5,709.02 +61.18 +1.08% 
CAC 40 3,798.38 +40.99 +1.09% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 9,862.82 -141.90 -1.42%  
Hang Seng 21,700.04 -41.72 -0.19%  
Straits Times 2,781.86 -15.35 -0.55% 

http://finance.yahoo.com/news/Stocks-rise-as-trade-deficit-apf-2110216808.html?x=0

*Stocks rise as trade deficit narrows in October

Stocks climb as rise in exports offsets worries about increase in weekly unemployment claims*

By Sara Lepro and Tim Paradis, AP Business Writers 
On 4:25 pm EST, Thursday December 10, 2009 

 NEW YORK (AP) -- Stock indexes rose Thursday as a jump in exports offset concerns about an increase in weekly unemployment claims.

A weaker dollar is lifting demand for U.S. goods, which become less expensive for foreign buyers when the greenback falls. The Commerce Department said a rise in exports helped narrow the nation's trade gap to $32.9 billion in October. Economists had been expecting an increase. Exports rose 2.5 percent, the sixth straight monthly increase.

James Cox, managing partner at Harris Financial Group in Colonial Heights, Va., said the increased demand for U.S. goods will help boost the nation's economy.

"These smaller trade balances are great news," Cox said. "Any time you have a small trade balance, that will really contribute greatly to GDP."

The trade figures helped offset mixed jobs numbers. The Labor Department said the number of laid-off workers seeking jobless benefits rose more than expected last week to 474,000 after falling for five straight weeks, slightly higher than analysts were expecting. However the four-week average, which is less volatile, fell to the lowest level since September 2008.

The gains in stocks came as the dollar stabilized. For months, stocks and the dollar have moved in the opposite direction. Record-low U.S. interest rates have pressured the dollar for much of this year, leading investors to buy assets like stocks and commodities that can earn better returns than cash.

In recent weeks, signs of improvement in the economy have brought expectations that the Federal Reserve might raise interest rates sooner than expected. That would strengthen the dollar.

Anthony Chan, chief economist at JPMorgan Private Wealth Management in New York, said the rise in weekly unemployment claims eroded some of the enthusiasm over rising exports.

"That is what's preventing the market from really galloping higher," Chan said.

According to preliminary calculations, the Dow Jones industrial average rose 66.78, or 0.7 percent, to 10,405.83, pushing it back into the winning column for the month.

The Standard & Poor's 500 index rose 6.40, or 0.6 percent, to 1,102.35, while the Nasdaq composite index rose 7.13, or 0.3 percent, to 2,190.86.

Chan said investors are not only eager to safeguard their gains as the end of the year approaches but are also harder to impress following the government's report last week that employers cut fewer jobs in November than at any time since the recession began two years ago.

"It raises the hurdle to get the market excited," he said.

The S&P 500 index is up 22 percent for the year after a nine-month rally but hasn't gained much ground in the past month.

In other trading, Treasury prices fell for a second day after an auction of 30-year bonds drew weak demand. The slump in prices for long-dated bonds pushed yields higher. The yield on the benchmark 10-year Treasury note rose to 3.48 percent from 3.44 percent late Wednesday, while the yield on the 30-year bond rose to 4.49 percent from 4.42 percent.

Gold rose after a four-day slide, while oil fell for a seventh day, losing 13 cents to settle at $70.54 a barrel at the New York Mercantile Exchange.

Three stocks rose for every two that fell on the New York Stock Exchange, where volume came to 1.1 billion, in line with Wednesday.

The Russell 2000 index of smaller companies fell 2.65, or 0.4 percent, to 595.38.

Britain's FTSE 100 rose 0.8 percent, Germany's DAX index rose 1.1 percent, while France's CAC-40 rose 1.1 percent. Japan's Nikkei stock average fell 1.4 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow rose 0.8 percent for the week, its second straight weekly gain. The S&P 500 index rose for a third straight week, edging up less than 0.1 percent. The Nasdaq slipped 0.2 percent for the week.

With help from some positive data, the stock market was able to log a modest gain in the face of a firmer dollar for the second straight session, but stocks still finished flat for the week. Such sideways movement is consistent with the stock market's trend for the past month, though. 

Action was choppy this session, but stocks held firmly higher. The only move lower by the S&P 500 was met with support at the neutral line. 

Encouraging news about how consumers feel about the economy and how much they're spending sent stocks higher on Friday.

The strong showing in retail sales last month raised hopes that consumers are starting to feel more comfortable opening their wallets after months of building savings. The 1.3 percent increase was more than double the gain that analysts had forecast.

The government's retail report came as a relief to many investors who have been frustrated that consumer spending, a mainstay of the U.S. economy, has remained in a funk even as other parts of the economy recover.

*The NYSE DOW closed HIGHER +65.67 points +0.63% on Friday December 11*
Sym Last........ ........Change.......... 
Dow 10,471.50 +65.67 +0.63% 
Nasdaq 2,190.31 -0.55 -0.03% 
S&P 500 1,106.41 +4.06 +0.37% 
30-yr Bond 4.4970% +0.0050 

NYSE Volume 4,408,781,000 (prior 4,598,088,000) 
Nasdaq Volume 1,762,508,880 (prior 1,950,550,880)

Oil 76.90 -0.56 -0.72% 
Gold 1,186.90 +21.40 +1.84% 

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,261.57 +17.20 +0.33% 
DAX 5,756.29 +47.27 +0.83% 
CAC 40 3,803.72 +46.33 +1.23% 


*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,107.87 +245.05 +2.48% 
Hang Seng 21,902.11 +202.07 +0.93% 
Straits Times 2,800.75 +18.89 +0.68% 

http://finance.yahoo.com/news/Stron...0.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stronger retail sales and sentiment boost stocks

Big jump in retail sales sends stocks higher for 3rd day; Consumer confidence rebounds*
By Sara Lepro and Tim Paradis, AP Business Writers 
On 5:56 pm EST, Friday December 11, 2009 

NEW YORK (AP) -- Encouraging news about how consumers feel about the economy and how much they're spending sent stocks higher on Friday.

The strong showing in retail sales last month raised hopes that consumers are starting to feel more comfortable opening their wallets after months of building savings. The 1.3 percent increase was more than double the gain that analysts had forecast.

The government's retail report came as a relief to many investors who have been frustrated that consumer spending, a mainstay of the U.S. economy, has remained in a funk even as other parts of the economy recover.

A separate report showing an increase in consumer confidence signaled that spending could continue to rise. The preliminary Reuters/University of Michigan consumer sentiment index increased more than expected in December.

In another welcome sign, the Commerce Department reported a 0.2 percent gain in business inventories in October, breaking a 13-month streak of declines. That's a signal that businesses expect consumers to step up their purchases.

Hopes of an economic rebound have driven stocks sharply higher for nine months, but the advance has slowed in the past month as investors lock in the year's huge returns and question what catalysts there might be to power the market higher next year.

Stephen Wood, chief market strategist at Russell Investments, said the day's reports help confirm that the economy is on the right track.

"We're going from the first global recession in 70 years to a tepid, but very real global growth story," he said.

The Dow Jones industrial average rose 65.67, or 0.6 percent, to 10,471.50. The Standard & Poor's 500 index gained 4.06, or 0.4 percent, to 1,106.41, while the Nasdaq composite index slipped 0.55, or less than 0.1 percent, to 2,190.31.

Stocks and the dollar seesawed during the week as investors tried to determine where the economy and interest rates are headed. After a stronger dollar sent the Dow down 104 points on Tuesday, stocks rebounded in the final three days of the week.

The Dow rose 0.8 percent for the week, its second straight weekly gain. The S&P 500 index rose for a third straight week, edging up less than 0.1 percent. The Nasdaq slipped 0.2 percent for the week.

Friday's gains in stocks came even as the dollar rose. The ICE Futures US dollar index rose 0.7 percent.

For months, stocks and commodities have moved in the opposite direction of the dollar. The dollar has been falling for much of this year as low interest rates make other assets like stocks and commodities more attractive. A weaker dollar makes commodities cheaper for foreign buyers and helps boost the profits at companies that do business overseas.

Gold fell $6.30 to $1,119.80 an ounce. Oil slumped for an eighth day, sliding 67 cents to $69.87 a barrel on the New York Mercantile Exchange.

A steep drop in the number of employers who cut jobs last month and other signs of improvement in the economy have brought expectations that the Federal Reserve will raise interest rates sooner than later. That would boost the dollar and initially hurt stocks as investors look for better returns elsewhere.

Ryan Detrick, senior technical strategist at Schaeffer's Investment Research, expects the stock market will see more days when it rises alongside the dollar because gains in the greenback signal confidence in the U.S. economy is improving. That could trump concerns that the Fed will raise borrowing costs.

"Higher interest rates down the road probably would not derail this bull market mainly because the economy is on better footing than people think," Detrick said.

Next week, investors will be looking to the policy statement that follows a two-day meeting of the Fed's interest rate committee for clues on the direction of interest rates. Reports are also due on housing and industrial production, and companies including Best Buy Co. and FedEx Corp. are scheduled to post quarterly earnings.

Treasury prices mostly fell Friday after the encouraging economic reports weakened demand for safe-haven investments. That pushed yields higher. The yield on the benchmark 10-year Treasury note rose to 3.55 percent from 3.50 percent late Thursday.

Two stocks rose for every one that fell on the New York Stock Exchange, where volume totaled 1 billion shares versus 1.1 billion Thursday.

The Russell 2000 index of smaller companies rose 4.99, or 0.8 percent, to 600.37.

Britain's FTSE 100 rose 0.3 percent, Germany's DAX index gained 0.8 percent, and France's CAC-40 rose 0.1 percent. Japan's Nikkei stock average soared 2.5 percent.
9240


----------



## jancha

[Dow 10,471.50 +65.67 +0.63% 
Nasdaq 2,190.31 -0.55 -0.03% 
S&P 500 1,106.41 +4.06 +0.37% 
30-yr Bond 4.4970% +0.0050 

NYSE Volume 4,408,781,000 (prior 4,598,088,000) 
Nasdaq Volume 1,762,508,880 (prior 1,950,550,880)

Oil 76.90 -0.56 -0.72% 
Gold 1,186.90 +21.40 +1.84% 

Gold fell $6.30 to $1,119.80 an ounce. Oil slumped for an eighth day, sliding 67 cents to $69.87 a barrel on the New York Mercantile Exchange.


Dont quite follow the POG here. Gold 1,186.90 + 21.40 +1.84%

Gold fell $6.30 to $1,119.80 an ounce.

Can someone explain why the two are different?


----------



## bigdog

Source: http://finance.yahoo.com

Stocks sported solid gains for the entire session as a batch of positive news items brought buyers into action. However, afternoon trade became rather subdued as the stock market entered a familiar sideways drift. 

Global indices got an overnight lift from news that Abu Dhabi has supplied Dubai's corporate flagship, Dubai World, with $10 billion. Several weeks ago Dubai World had requested to freeze its debt payments amid a lack of liquidity. By doing so, Dubai World had rekindled concern about the security of global credit markets. 

Easing concerns about debt problems overseas and a $31 billion takeover deal by Exxon Mobil Corp. nudged major stock indexes to new highs for the year.

The market climbed Monday following news that the Middle Eastern city-state of Abu Dhabi had extended $10 billion to nearby Dubai to help the emirate make debt payments. Analysts have been concerned since last month that a cash crunch in the former boomtown could send ripples through global credit markets.

The market's advance was uneven after Exxon Mobil said it would acquire XTO Energy Inc. The move will help Exxon tap into the growing supply of natural gas in the U.S. and could signal that more deals are afoot in the energy industry.

*The NYSE DOW closed HIGHER +29.55 points +0.28% on Monday December 14*
Sym Last........ ........Change.......... 
Dow 10,501.05 +29.55 +0.28% 
Nasdaq 2,212.10 +21.79 +0.99% 
S&P 500 1,114.11 +7.70 +0.70% 
30-yr Bond 4.4750% -0.0220 

NYSE Volume 5,119,280,000  (prior 4,408,781,000)
Nasdaq Volume 1,860,570,120 (prior 1,762,508,880)

Oil 76.90 -0.56 -0.72%  CLZ09.NYM
Gold 1,186.90 +21.40 +1.84%  GCX09.CMX

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,315.34 +53.77 +1.02% 
DAX 5,802.26 +45.97 +0.80% 
CAC 40 3,830.44 +26.72 +0.70% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,105.68 -2.19 -0.02%  
Hang Seng 22,085.75 +183.64 +0.84%  
Straits Times 2,799.54 -1.21 -0.04% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks rise to 2009 highs after Dubai, Exxon deals

Stock market ticks higher after Dubai gets $10B bailout; Exxon deal lifts energy shares*

By Sara Lepro, AP Business Writer 
On 5:16 pm EST, Monday December 14, 2009 

NEW YORK (AP) -- Easing concerns about debt problems overseas and a $31 billion takeover deal by Exxon Mobil Corp. nudged major stock indexes to new highs for the year.

The market climbed Monday following news that the Middle Eastern city-state of Abu Dhabi had extended $10 billion to nearby Dubai to help the emirate make debt payments. Analysts have been concerned since last month that a cash crunch in the former boomtown could send ripples through global credit markets.

The market's advance was uneven after Exxon Mobil said it would acquire XTO Energy Inc. The move will help Exxon tap into the growing supply of natural gas in the U.S. and could signal that more deals are afoot in the energy industry.

A drop in shares of Exxon held the Dow Jones industrial average to more modest gains than other indexes. The Dow added 0.3 percent, while the broader Standard & Poor's 500 index rose 0.7 percent.

Financial stocks rose after Citigroup Inc. said it would repay the $20 billion it received last year from the government's financial rescue program. The government also will sell its 34 percent stake in the company. The news came just days after Bank of America Corp. repaid the $45 billion in bailout money it owed taxpayers.

The day's advance was orderly and signaled that traders remain cautious, as they have for weeks. A big run in stocks that began in March has slowed in the past month as investors look to lock in some of their gains from 2009 and determine how to position themselves for the new year. The Standard & Poor's 500 index is up 1.7 percent so far this month, after a 5.7 percent gain in November and a 64.7 percent jump since early March.

"Most people, for the most part, have wrapped up the year," said Blaze Tankersley, chief market strategist at brokerage Bay Crest Partners.

The Dow rose 29.55, or 0.3 percent, to 10,501.05, its highest close since Oct. 1, 2008. The S&P 500 index rose 7.70, or 0.7 percent, to 1,114.11, its highest finish since Oct. 2, 2008. The Nasdaq composite index rose 21.79, or 1 percent, to 2,212.10.

The yield on the benchmark 10-year Treasury note edged up to 3.56 percent from 3.55 percent late Friday as prices fell.

The dollar fell against other currencies, helping to lift most commodities prices. Commodities are priced in dollars and become cheaper for foreign buyers when the greenback falls.

Gold rose, while oil fell 36 cents to settle at $69.51 a barrel on the New York Mercantile Exchange.

Analysts said stocks are likely to drift as investors await comments about the economy and interest rates from the Federal Reserve, which wraps up its last policy meeting of the year on Wednesday.

Investors expect the central bank to keep its benchmark interest rate at a historic low level of near zero. But there is some concern that rates could rise sooner than previously thought as the economy improves.

"People simply want to know if we are going to keep this low-interest-rate environment," said Michael Feser, president of Zecco Trading in Pasadena, Calif. "That has really been fuel for this market."

The Russell 2000 index of smaller companies rose 9.42, or 1.6 percent, to 609.79.

Three stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.1 billion shares compared with 1 billion Friday.

Britain's FTSE 100 rose 1 percent, Germany's DAX index rose 0.8 percent, and France's CAC-40 gained 0.7 percent. Japan's Nikkei stock average fell less than 0.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

A stronger dollar and disappointing data caused stocks to start the session in negative territory, while weakness among bank stocks soon added to broader market selling pressure. The major indices did make a midmorning upturn, but the move encountered resistance and stocks eventually rolled over. 

Renewed support for the U.S. dollar drove the Dollar Index to a fresh two-month high and led to broad-based weakness in the stock market. The greenback pulled back a bit, but it still settled with a 0.7% gain against competing currencies. The move comes ahead of tomorrow's FOMC policy statement, which will be of primary focus as participants look for hints about any potential tightening of monetary policy.

The stock market fell for the first time in five days and Treasurys slipped after a jump in inflation stoked concerns that the Federal Reserve would be forced to raise interest rates.

Stocks extended their slide late Tuesday after General Electric Co. forecast that revenue and earnings would be largely flat in 2010.

Major stocks indexes slid 0.5 percent from 14-month highs, including the Dow Jones industrial average, which lost 49 points.

*The NYSE DOW closed LOWER -49.05 points -0.47%  on Tuesday December 15*
Sym Last........ ........Change.......... 
Dow 10,452.00 -49.05 -0.47% 
Nasdaq 2,201.05 -11.05 -0.50% 
S&P 500 1,107.93 -6.18 -0.55% 
30-yr Bond 4.5330% +0.0580 

NYSE Volume 5,604,405,000  (prior 5,119,280,000)
Nasdaq Volume 1,958,419,120  (prior 1,860,570,120)

Oil 76.90 -0.56 -0.72% CLZ09.NYM
Gold 1,186.90 +21.40 +1.84% GCX09.CMX

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,285.77 -29.57 -0.56% 
DAX 5,811.34 +9.08 +0.16% 
CAC 40 3,834.09 +3.65 +0.10% 

*Asia*
Symbol..... Last...... .....Change.......
Nikkei 225 10,083.48 -22.20 -0.22%  
Hang Seng 21,813.92 -271.83 -1.23%  
Straits Times 2,798.70 -0.84 -0.03% 

http://finance.yahoo.com/news/Spike-in-wholesale-inflation-apf-2682030532.html?x=0

*Spike in wholesale inflation sends stocks lower

Stocks, bonds fall as wholesale inflation and the dollar rise; Fed meets to discuss rates*

By Tim Paradis, AP Business Writer 
On 5:11 pm EST, Tuesday December 15, 2009 

 NEW YORK (AP) -- The stock market fell for the first time in five days and Treasurys slipped after a jump in inflation stoked concerns that the Federal Reserve would be forced to raise interest rates.

Stocks extended their slide late Tuesday after General Electric Co. forecast that revenue and earnings would be largely flat in 2010.

Major stocks indexes slid 0.5 percent from 14-month highs, including the Dow Jones industrial average, which lost 49 points.

Trading was subdued as Fed policymakers gathered for a two-day meeting on interest rates. The Fed isn't expected to raise rates from their record low level, but the day's economic reports brought reminders that the central bank could be forced to raise rates sooner than expected to keep inflation at bay.

The government said wholesale prices jumped 1.8 percent last month, more than double the gain analysts expected. Core inflation, which excludes often-volatile food and energy costs, rose 0.5 percent, the biggest increase in more than a year.

Analysts said the increase in food and energy costs was likely a concern for Fed officials.

"They're the twin pistons of inflation," said Christopher Wolf, managing partner and co-chief investment officer at Cogo Wolf Asset Management LLC in San Francisco.

Meanwhile, the Fed said industrial production rose 0.8 percent in November, the biggest gain since August. The rise in production meant factories ran at a higher capacity. The portion of capacity being used remains below average, but if factories start seeing demand increase prices could rise.

The reports put inflation on investors' screens. If prices start rising and the Fed raises rates, it could choke off a nascent economic recovery. The Fed is expected to release a statement on the economy and interest rates Wednesday afternoon after its meeting.

"There is a fair chance that the Fed is going to have to start putting some brakes on the economy," Wolf said, adding that he doesn't expect any immediate actions from policymakers.

Higher rates would help shore up the dollar, which rose Tuesday, but has fallen against other major currencies since stocks began rising in March. It could also trip up the stock market as traders realign their holdings.

Stocks have slowed their nine-month advance in December as traders look to lock in gains for the year and seek clues about what might be able to drive the market in 2010. The benchmark Standard & Poor's 500 index has jumped 63.8 percent from a 12-year low in March on relief that the economy appears to be stabilizing. Analysts say investors will need substantive signs that the economy is improving to extend the gains next year.

The Dow fell 49.05, or 0.5 percent, to 10,452.00. The S&P 500 index fell 6.18, or 0.6 percent, to 1,107.93, and the Nasdaq composite index fell 11.05, or 0.5 percent, to 2,201.05.

The Dow and S&P 500 index closed Monday at their highest levels since October 2008 as concerns eased about global debt problems.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.60 percent from 3.56 percent late Monday.

The dollar rose to its highest level in two months against the euro, while gold prices fell.

Crude oil rose $1.18 to settle at $70.69 per barrel on the New York Mercantile Exchange and break a nine-day slide.

Investors turned cautious after GE's forecast. CEO Jeffrey Immelt said the conglomerate is making a rebound after a difficult year and that it is looking to rely more on its energy and health care businesses and less on its financial arm for earnings in 2010. The stock fell 20 cents, or 1.3 percent, to $15.75.

Meanwhile, Best Buy Co. said its fourth-quarter profit margins will face pressure as shoppers look for less expensive items. The comments came as the electronics retailer said its third-quarter earnings more than quadrupled. Best Buy fell $3.84, or 8.5 percent, to $41.53.

Three stocks fell for every two that rose on the New York Stock Exchange, where volume came to 1.2 billion shares, compared with 1.1 billion Monday.

Britain's FTSE 100 fell 0.6 percent, Germany's DAX index rose 0.2 percent, and France's CAC-40 added 0.1 percent. Japan's Nikkei stock average fell 0.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com

A weaker dollar helped put stocks in higher ground in the early going, but broader market support faded in the wake of the latest statement from the Federal Open Market Committee (FOMC). 

Early gains were broad based as the dollar dipped as much as 0.4% against a basket of foreign currencies in the early going. The Nasdaq was even able to log a fresh 52-week high. 

However, support for stocks started to fade ahead of the latest FOMC directive and then buckled in the report's wake. 

An early advance in stocks stalled Wednesday as the Federal Reserve reminded investors that it would start to wean the economy from an array of emergency supports next year.

Investors knew several of the programs would be dismantled in 2010, but the added detail about the Fed's plans as well as lingering concerns about inflation tugged at the market. Stocks finished little changed.

The prospect of an eventual increase in interest rates and an improving economy injected some strength into the dollar, which has been on a general decline for about nine months. A rising dollar can weigh on stocks because it cuts into the profits of companies that do business overseas.

*The NYSE DOW closed LOWER -10.88 points -0.10% on Wednesday December 16*
Sym Last........ ........Change.......... 
Dow 10,441.12 -10.88 -0.10% 
Nasdaq 2,206.91 +5.86 +0.27% 
S&P 500 1,109.18 +1.25 +0.11% 
30-yr Bond 4.5330% 0.0000 

NYSE Volume 5,684,457,000  (prior 5,604,405,000)
Nasdaq Volume 2,115,023,750  (prior 1,958,419,120)

Oil 76.90 -0.56 -0.72% CLZ09.NYM
Gold 1,186.90 +21.40 +1.84% GCX09.CMX

*Europe*
Symbol... Last...... .....Change.......
FTSE 100 5,320.26 +34.49 +0.65% 
DAX 5,903.43 +92.09 +1.58% 
CAC 40 3,875.82 +41.73 +1.09% 

B]Asia[/B]
Symbol..... Last...... .....Change.......
Nikkei 225 10,177.41 +93.93 +0.93%  
Hang Seng 21,611.74 -202.18 -0.93%  
Straits Times 2,813.93 +15.23 +0.54% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=6&asset=&ccode=

*Stocks stall as Fed prepares to remove aid

Stocks end little changed as Fed outlines plans for removing economic supports; Dow slips 11*

By Tim Paradis, AP Business Writer , 
On Wednesday December 16, 2009, 5:28 pm 

NEW YORK (AP) -- An early advance in stocks stalled Wednesday as the Federal Reserve reminded investors that it would start to wean the economy from an array of emergency supports next year.

Investors knew several of the programs would be dismantled in 2010, but the added detail about the Fed's plans as well as lingering concerns about inflation tugged at the market. Stocks finished little changed.

The prospect of an eventual increase in interest rates and an improving economy injected some strength into the dollar, which has been on a general decline for about nine months. A rising dollar can weigh on stocks because it cuts into the profits of companies that do business overseas.

Most stocks rose for the day, though the Dow Jones industrials slipped 11 points. Broader indexes gained but ended off of their highs.

The modest moves came as the Fed said it would leave interest rates near zero, as expected, but officials also noted that weakness in the job market is "abating." Fed governors made the assessment following a two-day meeting on interest rates.

Investors parse Fed statements for insight into how policymakers are viewing the economy and for clues about when the central bank might raise interest rates. Ultra-low borrowing costs have pushed stocks higher this year and helped weaken the dollar.

The Fed's latest pronouncement comes as investors look to lock in some of the enormous gains amassed in the stock market's run since March. Some investors worry the market could stumble next year on the questions raised again Wednesday about interest rates, inflation and the dollar.

Stocks had been higher Wednesday ahead of the Fed's announcement after a benign reading on consumer price inflation eased concerns that the Fed would be forced to raise interest rates soon. The Fed reinforced that notion by repeating that inflation is likely to remain under control and that interest rates would remain low for an "extended period."

Analysts said the Fed didn't want to shake up the market but wanted to leave intact its prediction that interest rates will remain low for now, but not forever.

"The Fed had no interest whatsoever in destabilizing expectations as we move to a new year," said Lawrence Creatura, equity market strategist and portfolio manager at Federated Investors in Rochester, N.Y. "There are only four words that really matter in that statement: 'exceptionally low' and 'extended period.'"

The Dow Jones industrial average fell 10.88, or 0.1 percent, to 10,441.12, after rising as much as 58 points.

The broader Standard & Poor's 500 index rose 1.25, or 0.1 percent, 1,109.18. It is up 22.8 percent for the year. The Nasdaq composite index rose 5.86, or 0.3 percent, to 2,206.91.

Bond prices mostly fell, pushing yields higher, following the Fed's more upbeat assessment of the economy. The yield on the benchmark 10-year Treasury note was flat at 3.60 percent from late Tuesday.

The dollar pared an early slide after the Fed said it would begin to wrap up some of its emergency measures. Gold climbed, while crude oil jumped $1.97 to $72.66 per barrel on the New York Mercantile Exchange.

Bruce McCain, chief investment strategist at Key Private Bank in Cleveland, said a drop in layoffs in November gave the Fed more room to discuss dousing any signs of inflation by cutting off some of the money it is pumping into the economy.

"It marks the time when their emphasis is going to have to be a little more balanced between unemployment and inflation," he said.

Meanwhile, Intel Corp. was the biggest decliner among the 30 stocks that make up the Dow industrials after the Federal Trade Commission accused the chipmaker in a lawsuit of using tactics to snuff out competition. Intel fell 42 cents, or 2.1 percent, to $19.38.

Two stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.2 billion shares compared with 1.1 billion Tuesday.

The Russell 2000 index of smaller companies rose 4.90, or 0.8 percent, to 611.21.

Britain's FTSE 100 rose 0.7 percent, Germany's DAX index jumped 1.6 percent, and France's CAC-40 advanced 1.1 percent. Japan's Nikkei stock average rose 0.9 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stiff selling on heavy volume came as the greenback spiked against foreign currencies and financials faltered. Stocks now head into Friday with a week-to-date loss of nearly 1%. 

The dollar made its way to a 1.1% gain against competing currencies after Standard & Poor's downgraded Greece's debt rating. It was the second reduction of its kind this week. Support for the greenback had the Dollar Index up as much as 1.4%, which put it at a new three-month high. 

That proved to be a headwind for both stocks and commodities, which put materials stocks under the most pressure this session. The materials sector settled with a loss of 2.3%. 

A rising dollar and disappointing corporate news pushed stocks lower and Treasurys higher on Thursday over concerns that the economy will struggle to recover.

Major stock indexes slid 1 percent, including the Dow Jones industrial average, which fell 133 points.

The dollar jumped to a three-month high against the euro, a sign of risk-aversion in the market. Investor confidence was further sapped as a forecast from FedEx Corp. fell short of expectations and Citigroup Inc. sold stock at a steep discount as part of a plan to repay government loans.

*The NYSE DOW closed LOWER -132.86 points -1.27%  on Thursday December 17*
Sym. Last......... ........Change.......... 
Dow 10,308.26 -132.86 -1.27% 
Nasdaq 2,180.05 -26.86 -1.22% 
S&P 500 1,096.07 -13.11 -1.18% 
30-yr Bond 4.4160% -0.1170 

NYSE Volume 6,788,313,500  (prior 5,684,457,000)
Nasdaq Volume 1,925,764,500  (prior 2,115,023,750)

Oil 76.90 -0.56 -0.72% CLZ09.NYM
Gold 1,186.90 +21.40 +1.84% GCX09.CMX

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,217.61 -102.65 -1.93% 
DAX 5,844.44 -58.99 -1.00% 
CAC 40 3,830.82 -45.00 -1.16% 

B]Asia[/b]
Symbol...... Last...... .....Change.......
Nikkei 225 10,163.80 -13.61 -0.13%  
Hang Seng 21,347.63 -264.11 -1.22%  
Straits Times 2,813.27 -0.66 -0.02% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks fall as dollar gains, FedEx disappoints

Stocks slide as dollar jumps against euro; Citi share sale, FedEx forecast disappoint traders*

By Tim Paradis and Ieva M. Augstums, 
On Thursday December 17, 2009, 4:39 pm 

NEW YORK (AP) -- A rising dollar and disappointing corporate news pushed stocks lower and Treasurys higher on Thursday over concerns that the economy will struggle to recover.

Major stock indexes slid 1 percent, including the Dow Jones industrial average, which fell 133 points.

The dollar jumped to a three-month high against the euro, a sign of risk-aversion in the market. Investor confidence was further sapped as a forecast from FedEx Corp. fell short of expectations and Citigroup Inc. sold stock at a steep discount as part of a plan to repay government loans.

More poor news came in on the economy as the government reported an unexpected rise in unemployment claims last week. The number of new jobless claims rose to 480,000 last week, up 7,000 from the previous week.

Stocks were coming under pressure from the stronger dollar, which can cut into profits of U.S. companies that do business abroad. The euro slumped after Standard & Poor's lowered its debt rating on Greece, the latest European country to have credit problems.

A pair of improved economic reports did little to shore up the market. The Conference Board's index of leading economic indicators rose in November for the eighth consecutive month, while the Philadelphia Federal Reserve said manufacturing in its region rose.

John Merrill, chief investment officer of Tanglewood Wealth Management in Houston, said the rising dollar was overshadowing the improvement in the leading indicators numbers. He said the dollar was benefiting as traders concerned about rising debt levels in countries like Greece pulled out of the euro.

"There are a lot of shifting sands as people, not just federal reserve banks, look at the underpinnings of those currencies," he said.

According to preliminary calculations, the Dow fell 132.86, or 1.3 percent, to 10,308.26. The broader Standard & Poor's 500 index fell 13.10, or 1.2 percent, to 1,096.08, and the Nasdaq composite index fell 26.89, or 1.2 percent, to 2,180.05.

Bond prices rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.48 percent from 3.60 percent late Wednesday.

The ICE Futures U.S. dollar index, which measures the greenback against a basket of foreign currencies, rose 1 percent.

Gold fell, while crude oil dropped 1 cent to settle at $72.65 per barrel on the New York Mercantile Exchange.

In corporate news, Citigroup fell 25 cents, or 7.3 percent, to $3.20 after the Treasury Department backed out of its plans to sell its 34 percent stake in the company.

The move came after investors responded tepidly to a massive stock offer by the New York-based bank, which is trying to repay $20 billion of the $45 billion in government support it received to weather the financial crisis.

Meanwhile, FedEx provided a cautious forecast for its fiscal third quarter after reporting second-quarter results fell 30 percent from a year earlier. The shipping company fell $5.48, or 6.1 percent, to $84.47.

Credit card lender Discover Financial Services fell $1.50, or 9.1 percent, to $14.92 after reporting that its fiscal fourth-quarter profit fell 19 percent because of bad loans.

The concerns about debt in Europe and the corporate news brought reminders that the economy isn't likely to spring back to life the way it did after downturns earlier in the decade.

"The recovery is likely to be muted," said Jim Baird, partner and chief investment strategist at Plante Moran Financial Advisors. "It's likely to be held back by a consumer that remains in a more delicate spot than would ideally be the case coming out of a recession."

Baird added that the market's retreat wasn't worrisome because of the run stocks have been on since March. The benchmark S&P 500 index is up 22.8 percent for the year so some selling is to be expected as investors look to lock in profits for the year.

About three stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.7 billion shares compared with 1.2 billion Wednesday.

The Russell 2000 index of smaller companies fell 6.96, or 1.1 percent, to 604.25.

Britain's FTSE 100 fell 1.9 percent, Germany's DAX index lost 1 percent, and France's CAC-40 fell 1.2 percent. Japan's Nikkei stock average fell 0.9 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week down 142.61, or 1.4 percent, at 10,328.89. The Standard & Poor's 500 index fell 3.94, or 0.4 percent, to 1,102.47. The Nasdaq composite index rose 21.38, or 1 percent, to 2,211.69

Despite a strong start on the back of a better-than-expected batch of earnings, stocks finished with varied gains. Trading volume was exceptionally high, but not very telling of the broader market's mood. 

The stock market broke a three-day slide Friday as stronger results at two big technology companies bolstered confidence about a comeback in the economy.

Tech stocks pulled the market higher in choppy trading that brought record volume to the New York Stock Exchange. Software company Oracle Corp. and BlackBerry maker Research In Motion Ltd. each posted earnings that topped expectations.

The Dow Jones industrial average added 21 points but fell for the week.

*The NYSE DOW closed HIGHER +20.63  points +0.20% on Friday December 18*
Sym. Last......... ........Change.......... 
Dow 10,328.89 +20.63 +0.20% 
Nasdaq 2,211.69 +31.64 +1.45% 
S&P 500 1,102.47 +6.39 +0.58% 
30-yr Bond 4.4580% +0.0420 

NYSE Volume 8,347,831,500  (prior 6,788,313,500)
Nasdaq Volume 3,210,237,500  (prior 1,925,764,500)

Oil 76.90 -0.56 -0.72% CLZ09.NYM
Gold 1,186.90 +21.40 +1.84% GCX09.CMX

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,196.81 -20.80 -0.40% 
DAX 5,831.21 -13.23 -0.23% 
CAC 40 3,794.44 -36.38 -0.95% 


*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,142.05 -21.75 -0.21% 
Hang Seng 21,175.88 -171.75 -0.80% 
Straits Times 2,802.59 -10.68 -0.38% 

http://finance.yahoo.com/news/Tech-stocks-pull-market-out-apf-3694605928.html?x=0&.v=31

*Tech stocks pull market out of 3-day slide

Stocks rise as tech profits boost hopes for revenue growth; trading is heavy as options expire*

By Tim Paradis, AP Business Writer , On Friday December 18, 2009, 6:03 pm EST 

NEW YORK (AP) -- The stock market broke a three-day slide Friday as stronger results at two big technology companies bolstered confidence about a comeback in the economy.

Tech stocks pulled the market higher in choppy trading that brought record volume to the New York Stock Exchange. Software company Oracle Corp. and BlackBerry maker Research In Motion Ltd. each posted earnings that topped expectations.

The Dow Jones industrial average added 21 points but fell for the week.

The better results at Oracle, which makes software for large businesses, suggested that companies are becoming more willing to spend on technology projects. Research In Motion increased profits as it added subscribers and record sales of its smartphones.

Burt White, chief investment officer at LPL Financial in Boston, said the reports raised expectations that improving profits would help an economy still struggling with high unemployment.

"What is going to drive this recovery is an improvement in business spending, not consumer spending," he said.

After a volatile morning, the market settled out in the afternoon as investors looked to close their books for the year. Trading will be shortened next week because of the Christmas holiday on Friday.

The day began with a frenzy of buying and selling as several types of options contracts expired. Volatility was also high as several stocks were added to and dropped from the Standard & Poor's 500 index, a widely used benchmark and the basis for many indexed mutual funds. Trading on the New York Stock Exchange topped 3 billion shares for the first time. The prior record, just short of 3 billion shares, came in September last year.

The frenetic trading was an exception to the market's recent pattern. Many investors have stepped away from the market since November, resulting in unusually thin volume, while they look for evidence that a nine-month advance in stocks is justified.

White and other analysts say investors are happy to stand pat given the massive gains stocks have made this year. The S&P 500 index is up 22.1 percent in 2009, though it's still down 30 percent from its peak in October 2007.

"This has been a humdinger of a year," he said. "The market has probably shut down sooner than most years."

The Dow rose 20.63, or 0.2 percent, to 10,328.89, after dropping 133 points Thursday.

The broader S&P 500 index rose 6.39, or 0.6 percent, to 1,102.47, and the technology-heavy Nasdaq composite index rose 31.64, or 1.5 percent, to 2,211.69.

For the week, the Dow fell 1.4 percent, the S&P 500 index fell 0.4 percent and the Nasdaq rose 1 percent.

Stocks had tumbled on Thursday as the dollar spiked on worries about debt problems in Europe. A higher dollar can cut into profits of U.S. companies that do business overseas.

The market lost ground early in the week after a jump in inflation raised concerns that the Federal Reserve would be forced to raise interest rates. The Fed said Wednesday that it expected to leave interest rates low to help boost the economy.

Next week, investors will be looking to reports on home sales, consumer sentiment and demand for durable manufactured goods for insight into the economy.

David Allen, director of sales at financial services research group First Coverage in Boston, said some market players are turning cautious. The company tracks analyst recommendations to measure the mood of investors.

"What we're seeing now is sort of a shift in momentum," he said, noting that the company's sentiment indicator stopped rising in mid-November. "The last three weeks it's really kind of leveled out."

Bond prices fell, pushing the yield on the 10-year Treasury note up to 3.54 percent from 3.48 percent late Thursday.

The ICE Futures U.S. dollar index, which tracks the dollar against other major currencies, gained 1.5 percent for the week, its biggest advance since June.

Gold rose, while crude oil advanced 34 cents to settle at $74.42 per barrel on the New York Mercantile Exchange.

Three stocks rose for every two that fell on New York Stock Exchange, where consolidated volume came to 7.7 billion shares compared with 7.9 billion Thursday.

The Russell 2000 index of smaller companies rose 6.32, or 1.1 percent, to 610.57.

Britain's FTSE 100 fell 0.4 percent, Germany's DAX index fell 0.2 percent, and France's CAC-40 fell 1 percent. Japan's Nikkei stock average fell 0.2 percent.

The Dow Jones industrial average closed the week down 142.61, or 1.4 percent, at 10,328.89. The Standard & Poor's 500 index fell 3.94, or 0.4 percent, to 1,102.47. The Nasdaq composite index rose 21.38, or 1 percent, to 2,211.69.

The Russell 2000 index, which tracks the performance of small company stocks, rose 10.20, or 1.7 percent, for the week to 610.57.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,245.30, up 6.29, or 0.1 percent.
9685


----------



## bigdog

Source: http://finance.yahoo.com

Early buying spurred strong, broad-based gains among stocks, but action quickly steadied so that the broader market spent the session moving sideways in a narrow range. Though that didn't make for much excitement, the advance was interesting in that it held firm despite a strong bounce by the U.S. dollar. 

Moderate weakness in the greenback drove the Dollar Index to an early loss of 0.3%, which helped win support for stocks and keep all 10 major sectors in positive territory for the entire session.

Another wave of corporate dealmaking stoked investors' confidence in the economy and carried stocks sharply higher Monday.

Analyst upgrades of Alcoa Inc. and Intel Corp. and positive momentum on President Obama's health care overhaul also helped drive a broad rally on the stock market. Major indexes closed off their highs of the day but still rose about 1 percent. The Dow Jones industrial average jumped into the black for the month.

As stocks rose bond prices tumbled, pushing the yield on the benchmark 10-year Treasury note up to its highest level since August. The dollar strengthened, hurting commodities prices.

*The NYSE DOW closed HIGHER +85.25 points +85.25 on Monday December 21* 
Sym. Last......... ........Change.......... 
Dow 10,414.14 +85.25 +85.25 
Nasdaq 2,237.66 +25.97 +1.17% 
S&P 500 1,114.05 +11.58 +1.05% 
30-yr Bond 4.5670% +0.1090 

NYSE Volume 4,532,870,000  (prior 8,347,831,500)
Nasdaq Volume 1,837,720,750  (prior 3,210,237,500)

Oil 76.90 -0.56 -0.72% CLZ09.NYM
Gold 1,186.90 +21.40 +1.84% GCX09.CMX

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,293.99 +97.18 +1.87% 
DAX 5,930.53 +99.32 +1.70% 
CAC 40 3,872.06 +77.62 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,183.47 +41.42 +0.41%  
Hang Seng 20,948.10 -227.78 -1.08%  
Straits Times 2,786.81 -15.78 -0.56% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Merger news from Sanofi, Bucyrus drives stocks up

Corporate dealmaking sends stock market higher at beginning of holiday-shortened week*

By Stephen Bernard and Sara Lepro, AP Business Writers , On Monday December 21, 2009, 4:42 pm 

NEW YORK (AP) -- Another wave of corporate dealmaking stoked investors' confidence in the economy and carried stocks sharply higher Monday.

Analyst upgrades of Alcoa Inc. and Intel Corp. and positive momentum on President Obama's health care overhaul also helped drive a broad rally on the stock market. Major indexes closed off their highs of the day but still rose about 1 percent. The Dow Jones industrial average jumped into the black for the month.

As stocks rose bond prices tumbled, pushing the yield on the benchmark 10-year Treasury note up to its highest level since August. The dollar strengthened, hurting commodities prices.

Stocks got an early boost after French drug maker Sanofi-Aventis SA announced plans to buy U.S. health care products company Chattem Inc. for $1.9 billion, while mining equipment maker Bucyrus International Inc. said it will buy Terex Corp.'s mining equipment division for $1.3 billion. Dutch auto maker Spyker Cars submitted a new offer to buy Saab from General Motors Co.

Robert Pavlik, chief market strategist at Banyan Partners, said the flurry of corporate deal activity is an encouraging signs of strength in the economy.

"Companies are revealing that they are in a better position financially," he said. "If they weren't feeling as confident, you wouldn't see this type of activity occurring."

The deals announced Monday follow Exxon Mobil Corp.'s $29 billion takeover of XTO Energy Inc. last week.

In other corporate news, aluminum maker Alcoa Inc. announced an $11 billion joint venture in Saudi Arabia. The deal, along with an analyst's upgrade of the stock, drove Alcoa shares up nearly 8 percent, making it the best performer among the 30 stocks that make up the Dow.

An upgrade of chip maker Intel Corp. helped boost technology stocks, while health care stocks rose broadly as a historic health bill moved closer to passage in the Senate.

According to preliminary calculations, the Dow rose 85.25, or 0.8 percent, to 10,414.14, after rising as much as 130 points earlier in the day. The Standard & Poor's 500 index rose 11.58, or 1.1 percent, to 1,114.05, while the Nasdaq composite index rose 25.97, or 1.2 percent, at 2,237.66.

Bond prices sank as investors abandoned the safety of government debt in favor of stocks. The yield on the benchmark 10-year Treasury note, which moves opposite its price, climbed to 3.69 percent from 3.54 percent late Friday.

The dollar rose against other major currencies, making commodities more expensive for foreign buyers. Light, sweet crude for February delivery fell 70 cents to settle at $73.72 a barrel on the New York Mercantile Exchange. Gold also fell.

Monday's surge in stocks helped lift the Dow into positive territory for the month, giving it a 0.7 percent gain. Many analysts believe stocks should finish out the year strong after several weeks of listless trading.

Investors have been putting the brakes on stock buying since November, stepping back from the market following a historic rally over the past nine months.

At the same time, prospects of an interest rate hike and a potential rebound in the dollar have dogged investors who spent the year taking advantage of low rates to borrow cheaply and invest in stocks and commodities. There are also lingering questions over whether high unemployment and lackluster consumer spending will threaten the economic recovery.

Historically, though, December is the best single month for stocks, with the S&P 500 index averaging a 1.6 percent gain. So long as economic and corporate news continues to be encouraging, analysts expect the market to keep its momentum going into the new year.

Among the standout stocks on Monday, Chattem surged more than 33 percent, adding $23.16 to $93.14 after Sanofi-Aventis SA agreed to buy the company for $93.50 a share, a 34 percent premium over Friday's closing price. Chattem, which is traded on the Nasdaq, helped lift that index to an intraday high for the year.

Also trading on the Nasdaq, Bucyrus shares soared 9.8 percent, rising $5 to $55.84. Terex rose $1.73, or 9 percent, to $20.94.

Alcoa shares shot up 7.9 percent after the announcement of the Saudi deal and Morgan Stanley's upgrade of the stock to "Buy" based on a forecast of higher aluminum prices. Shares jumped $1.15 to $15.73, after earlier hitting a 14-month high of $15.98.

Intel shares rose 46 cents, or 2.3 percent, to $20.09.

About three stocks rose for every one that fell on the New York Stock Exchange, where volume was 1.01 billion shares compared with 3.16 billion shares at the same time on Friday.

Volume was exceptionally high Friday as several types of options contracts expired and S&P made changes to the S&P 500. That index is the basis for many indexed mutual funds, so those funds were forced to alter their holdings to match the reconstituted index.

In other trading, the Russell 2000 index of smaller companies rose 8.03, or 1.3 percent, to 618.60.

Overseas, Japan's Nikkei stock average rose 0.4 percent. Britain's FTSE 100 rose 1.9 percent, Germany's DAX index gained 1.7 percent, and France's CAC-40 jumped 2.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

More broad-based buying sent stocks to fresh 52-week highs in the face of a surprise downward revision to third quarter GDP and a gain by the greenback. 

An extension of the previous session's buying effort positioned stocks for a strong start this morning, but the mood was tempered by news that third quarter GDP was determined to have increased at a slower-than-expected annualized rate of 2.2%, according to the third and final estimate. The consensus prediction called for no revisions to the 2.8% increase that had been posted in the previous estimate. 

Stocks pushed higher for a third straight day after a surprisingly strong report on housing provided the latest evidence that the economy is picking up speed.

All major indexes gained less than 1 percent Tuesday, with the Standard & Poor's 500 index and the Nasdaq composite index closing at new highs for the year. The Dow Jones industrial average rose 50 points, bringing its three-day point gain to 156.

Stocks got off to a positive start after a report from the National Association of Realtors said home resales jumped 7.4 percent in November. That was much more than the 2.5 percent increase analysts expected. The government's tax breaks have spurred sales to their highest level in nearly three years.

*The NYSE DOW closed HIGHER +50.79 points +0.49% on Tuesday December 22* 
Sym. Last......... ........Change.......... 
Dow 10,464.93 +50.79 +0.49% 
Nasdaq 2,252.67 +15.01 +0.67% 
S&P 500 1,118.02 +3.97 +0.36% 
30-yr Bond 4.6050% +0.0380 

NYSE Volume 4,152,168,250  (prior 4,532,870,000)
Nasdaq Volume 1,746,967,120  (prior 1,837,720,750)

Oil 76.90 -0.56 -0.72% 
Gold 1,186.90 +21.40 +1.84% 

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,328.66 +34.67 +0.65% 
DAX 5,945.69 +15.16 +0.26% 
CAC 40 3,898.38 +26.32 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,378.03 +194.56 +1.91%  
Hang Seng 21,092.04 +143.94 +0.69%  
Straits Times 2,823.82 +37.01 +1.33% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks rise for 3rd day after jump in home sales

Stocks gain for 3rd straight day after report showing big jump in home sales*


By Stephen Bernard and Sara Lepro, AP Business Writer , On Tuesday December 22, 2009, 4:38 pm 

NEW YORK (AP) -- Stocks pushed higher for a third straight day after a surprisingly strong report on housing provided the latest evidence that the economy is picking up speed.

All major indexes gained less than 1 percent Tuesday, with the Standard & Poor's 500 index and the Nasdaq composite index closing at new highs for the year. The Dow Jones industrial average rose 50 points, bringing its three-day point gain to 156.

Stocks got off to a positive start after a report from the National Association of Realtors said home resales jumped 7.4 percent in November. That was much more than the 2.5 percent increase analysts expected. The government's tax breaks have spurred sales to their highest level in nearly three years.

The report added to a recent string of encouraging news on the economy, including upbeat earnings and forecasts from technology companies and more corporate dealmaking.

"It's just another rung in the recovery ladder," said Brett D'Arcy, chief investment officer at CBIZ Wealth Management Group.

There were other signs that investors were feeling more confident. Bond prices fell further, pushing yields sharply higher. The gap between yields on short- and long-term bonds has widened to record levels, indicating that investors see the economy growing.

Meanwhile, the dollar rose against the euro as investors bet that the U.S. will recover quicker than economies in Europe. And a gauge of the market's volatility dropped to its lowest point since May 2008. The Chicago Board Options Exchange's Volatility Index, known as the market's fear index, fell 4.6 percent to 19.55, after earlier falling as low as 16.26. It hit a record 89.5 last October during the height of the financial crisis.

D'Arcy said he expects the positive outlook on the economy to build on itself and to continue to propel the market forward through the end of the year.

According to preliminary calculations, the Dow Jones industrial average rose 50.79, or 0.5 percent, to 10,464.93. The Standard & Poor's 500 index rose 3.97, or 0.4 percent, to 1,118.02, while the Nasdaq composite index rose 15.01, or 0.7 percent, to 2,252.67. Both the S&P 500 and the Nasdaq are at their highest levels since last October.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, climbed to levels not seen since August, rising to 3.75 percent from 3.68 percent late Monday.

The yield on the three-month T-bill rose to 0.08 percent from 0.05 percent. Short-term rates have remained low, staying in line with the Federal Reserve's benchmark interest rate, which has been kept at a record level of near zero this year. However, long-term yields have been on the rise as investors become more sure of the economy's strength and see an increasing potential for inflation. Inflation is bad for bonds because it eats into their fixed returns.

The dollar moved higher against other major currencies as a third credit-ratings agency downgraded Greece's government bonds. Worries have been rising in recent weeks about debt levels in Greece, Ireland, Spain and Portugal, leading investors to sell other currencies and buy the dollar.

Gold prices fell to their lowest level since early November, while oil prices reversed an early slide and rose 68 cents to $74.40 a barrel on the New York Mercantile Exchange.

Wall Street typically does well in late December. Since 1950, the average return for the Dow during the week leading up to Christmas was 0.7 percent, according to Schaeffer's Investment Research. And the week following Christmas, the average return was 0.8 percent. The year-end advance is commonly known as a Santa Claus rally.

Investors were able to shrug off a government report revising lower third-quarter gross domestic product. The Commerce Department's new reading on GDP showed a growth rate of 2.2 percent, down from the previous estimate of 2.8 percent. The growth, while smaller than originally believed, still managed to break a record four straight quarters of decline.

About three stocks rose for every two that fell on the New York Stock Exchange, where volume was low at 955.5 million shares, compared with 1.01 billion at the same time on Monday.

Trading is expected to be light throughout the holiday-shortened week, which can exaggerate price swings. The market is open a half day on Thursday and closed Friday for Christmas.

In other trading, the Russell 2000 index of smaller companies rose 5.00, or 0.8 percent, to 623.60.

Overseas, Japan's Nikkei stock average jumped 1.9 percent. Britain's FTSE 100 rose 0.7 percent, Germany's DAX index gained 0.3 percent, and France's CAC-40 rose 0.7 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Disappointing new home sales numbers caused stocks to surrender opening gains, but a weaker dollar helped drive stocks back into the green. However, the rebound was resisted at session highs and left gains to chop their way into the close. 

The major indices started the session in higher ground amid continued broad-based buying that was helped along by solid gains throughout Europe and Asia. A pullback by the greenback also provided support; it concluded the session with a 0.5% loss against competing currencies after it had hit a three-month high in the previous session. 

Stocks ended an erratic session with a slender gain Wednesday as rising commodities prices offset disappointment over an unexpected drop in home sales.

Gains in commodities drove the shares of energy and materials-producing companies higher, lending support to the overall stock market. Gold, oil and other commodities rose as the dollar dropped.

The dollar snapped a four-day winning streak as the latest economic data reinforced investors' belief that the recovery will be slow.

*The NYSE DOW closed HIGHER +1.51 points +0.01% on Wednesday December 23* 
Sym. Last......... ........Change.......... 
Dow 10,466.44 +1.51 +0.01% 
Nasdaq 2,269.64 +16.97 +0.75% 
S&P 500 1,120.59 +2.57 +0.23% 
30-yr Bond 4.6030% -0.0020 

NYSE Volume 3,554,555,000  (prior 4,152,168,250)
Nasdaq Volume 1,588,521,620  (prior 1,746,967,120)

Oil 76.90 -0.56 -0.72% 
Gold 1,186.90 +21.40 +1.84% 

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,372.38 +43.72 +0.82% 
DAX 5,957.44 +11.75 +0.20% 
CAC 40 3,910.75 +12.37 +0.32% 


*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,378.03 +194.56 +1.91%  
Hang Seng 21,328.74 +236.70 +1.12%  
Straits Times 2,841.56 +17.74 +0.63% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks finish slightly higher despite housing data

Stock indexes eke out small gains as commodities rise, offset disappointing home sales data*

 By Stephen Bernard and Sara Lepro, AP Business Writers , On Wednesday December 23, 2009, 5:06 pm 

NEW YORK (AP) -- Stocks ended an erratic session with a slender gain Wednesday as rising commodities prices offset disappointment over an unexpected drop in home sales.

Gains in commodities drove the shares of energy and materials-producing companies higher, lending support to the overall stock market. Gold, oil and other commodities rose as the dollar dropped.

The dollar snapped a four-day winning streak as the latest economic data reinforced investors' belief that the recovery will be slow.

The Commerce Department said sales of new homes plunged 11.3 percent in November to their lowest level since March. The slump was disappointing for two reasons -- economists had forecast an increase, and the news came a day after stocks climbed higher on a separate report showing a better-than-expected gain in sales of existing homes last month.

The report indicated how reliant Americans have been on government assistance. Home resale numbers reflect contracts signed over the summer that closed last month. Those figures were inflated by consumers who rushed to take advantage of a tax credit that was set to expire at the end of November. New home figures, on the other hand, tally sales agreements signed in November, when consumers knew the deadline to apply for the tax credit had been extended and could take their time buying a new home.

The housing disappointment followed news that personal spending and income both rose in November. However, economists say growth remains too weak to sustain a strong economic recovery.

Stock trading has been choppy over the past few weeks as investors' optimism about the recovery surged and then ebbed. On Monday, the market rallied as corporate mergers raised investors' confidence. Wednesday's trading showed how uncertain investors really are.

Volume was light as investors closed up shop ahead of the Christmas holiday. The market will be open a half day on Thursday and closed on Friday.

Those still trading aren't making any major moves as the year winds to a close. The Standard & Poor's 500 index is now up 24.1 percent for the year.

"People are not doing any new trading," said Benny Lorenzo, CEO of New York-based Kaufman Brothers. "They are just holding on to their gains for the year."

The Dow Jones industrial average rose 1.51, or 0.01 percent, to 10,466.44. The Standard & Poor's 500 index rose 2.57, or 0.2 percent, to 1,120.59, while the Nasdaq composite index gained 16.97, or 0.8 percent, to 2,269.64.

The ICE Futures U.S. dollar index, which measures the dollar against other currencies, tumbled 0.5 percent. The decline in the dollar makes commodities cheaper for foreign buyers. Oil surged more than 3 percent, rising $2.27 to $76.67 a barrel on the New York Mercantile Exchange. Gold prices also rose.

Stocks started out modestly higher on Wednesday after the Commerce Department reported that personal income rose at the fastest rate in four months. That enabled Americans to increase their spending for the second straight month. Personal incomes rose 0.4 percent, helped by higher wages, while spending rose 0.5 percent. Both figures fell slightly short of the market's expectations.

Tim Courtney, chief investment officer at Burns Advisory Group, said Wall Street's mild reaction to Wednesday's economic data may be a reflection of the fact that there are few appealing alternatives for investors right now.

The cost of buying a 10-year Treasury note to lock in yearly gains just above 3.5 percent does not provide as much value as stocks whose gains could be sharply higher, he said. Gains on Treasurys could be further eroded if inflation starts to pick up as the economy recovers.

Reflecting investors' indecisiveness, bond prices were little changed Wednesday following three days of declines. The yield on the benchmark 10-year Treasury note held steady at 3.76 percent.

Three stocks rose for every one that fell on the New York Stock Exchange, where volume came to an extremely slow 785.9 million shares, down from 955.5 million on Tuesday.

Trading volume on the New York Stock Exchange has been especially light throughout the month, which can exaggerate price swings.

The Russell 2000 index of smaller companies rose 7.38, or 1.2 percent, to 630.98.

Overseas, Britain's FTSE 100 gained 0.8 percent, Germany's DAX index gained 0.2 percent, and France's CAC-40 rose 0.3 percent. The DAX and CAC-40 both hit highs for the year earlier in the day. Markets in Japan were closed for a holiday.


----------



## bigdog

Source: http://finance.yahoo.com

*The market will remain closed Friday for Christmas.*

The major indices posted modest gains to close at fresh 52-week highs following a holiday-shortened session in extremely light volume.

Thursday marked an extremely slow session, as expected, as many market participants were off their desks as they took an extended weekend ahead of Christmas. A total of 287 mln shares exchanged hands on the NYSE, well below the one year average of 1.4 bln.  Buying interest was broad-based, with nine of the 10 sectors posting a gain. Tech outperformed with a gain of 1.0%, while healthcare underperformed, closing near the unchanged mark.

Stocks ended a holiday-shortened session Thursday at new highs for the year following upbeat reports on unemployment and durable goods orders.

A weaker dollar also helped buoy the market, lifting energy and materials stocks. Christmas Eve trading was extremely light.

The encouraging signs of the labor market and consumer demand helped assuage investors who were disappointed the day before by an unexpected plunge in new home sales last month.

*The NYSE DOW closed HIGHER  +53.66 points +0.51% on Thursday December 24 *
Sym. Last......... ........Change.......... 
Dow 10,520.10 +53.66 +0.51% 
Nasdaq 2,285.69 +16.05 +0.71% 
S&P 500 1,126.48 +5.89 +0.53% 
30-yr Bond 4.6870% +0.0840 

NYSE Volume 1,427,099,500  (prior 3,554,555,000)
Nasdaq Volume 632,669,560 (prior  1,588,521,620)

Oil 76.90 -0.56 -0.72% 
Gold 1,186.90 +21.40 +1.84% 

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,402.41 +30.03 +0.56% 
DAX 5,957.44 +11.75 +0.20% 
CAC 40 3,912.73 +1.98 +0.05% 


*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,536.92 +158.89 +1.53%  
Hang Seng 21,517.00 +188.26 +0.88%  
Straits Times 2,837.70 -3.86 -0.14% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks end shortened session at new 2009 highs

Stocks hit new highs for the year following drop in jobless claims, rise in factory orders*

By Stephen Bernard and Sara Lepro, AP Business Writers , On Thursday December 24, 2009, 3:07 pm EST 

NEW YORK (AP) -- Stocks ended a holiday-shortened session Thursday at new highs for the year following upbeat reports on unemployment and durable goods orders.

A weaker dollar also helped buoy the market, lifting energy and materials stocks. Christmas Eve trading was extremely light.

The encouraging signs of the labor market and consumer demand helped assuage investors who were disappointed the day before by an unexpected plunge in new home sales last month.

New claims for unemployment benefits fell 28,000 to 452,000 last week, the Labor Department reported, the latest sign of improvement in the job market. It was the best figure since September 2008, just before the credit crisis peaked, and better than the 470,000 new claims economists had predicted.

Separately, the Commerce Department said orders to factories for durable goods excluding the volatile transportation sector jumped 2 percent last month, double what analysts expected.

Stocks have managed to push higher in December on optimism about the economy, but at a more subdued pace than in recent months. As the year winds to a close, the Standard & Poor's 500 index up 66.5 percent since hitting 12-year lows in March.

This week's trading pattern reflected the market's recent cautious tone. On Monday, stocks shot higher as another wave of corporate dealmaking boosted investors' optimism. Two days later, shares barely budged after the disappointing report on housing.

"The news on balance is pretty good," said Uri Landesman, head of global growth, ING Investment Management. "The market continues to inch higher."

The Dow Jones industrial average rose 53.66, or 0.5 percent, to 10,520.10. The Standard & Poor's 500 index rose 5.89, or 0.5 percent, to 1,126.48, while the Nasdaq composite index rose 16.05, or 0.7 percent, to 2,285.69.

Rising shares outnumbered decliners by about 3 to 1 on the New York Stock Exchange, where volume came to 319.3 million shares, compared with 384.8 million on Wednesday.

Trading has been slow throughout the week heading into the holiday, which can exaggerate swings in stock prices. The market closed at 1 p.m. Thursday and will remain closed Friday for Christmas.

Volume is likely to remain light next week, which will be shortened by the New Year's Day holiday on Friday. Outside of readings on home prices and consumer confidence, there will be few economic reports to drive trading.

The final days of the year are often good for stocks, though. Since 1950, the S&P 500 has advanced an average of 1.5 percent during the seven trading days that start with Christmas Eve and end with the first two days in January.

In industry news, health care stocks were little changed after landmark health care reform legislation cleared the Senate. Some analysts said the sector could have fared much worse in the bill.

"It's come off fairly toothless from what it could've been," Mitch Schlesinger, managing partner at FBB Capital Partners, said of the Senate's version of the health bill. He noted that many big health insurers are still trading near their highs for the year.

The ICE Futures U.S. dollar index, which measures the dollar against other currencies, fell 0.1 percent. Gold prices climbed back above $1,100 an ounce, while oil prices rose 96 cents to $77.63 a barrel on the New York Mercantile Exchange.

Commodities prices tend to rise when the dollar weakens because they become more attractive to foreign investors. A weaker dollar has helped keep the stock market churning higher in recent months.

Bond prices fell, sending their yields higher. The yield on the benchmark 10-year Treasury note rose to 3.80 percent from 3.75 percent late Wednesday.

The Russell 2000 index of smaller companies rose 3.09, or 0.5 percent, to 634.07.

Overseas, Japan's Nikkei stock average rose 1.5 percent. Britain's FTSE 100 rose 0.6 percent and France's CAC-40 rose 0.1 percent. Germany's market was closed for Christmas Eve.
0024


----------



## bigdog

Source: http://finance.yahoo.com

Modest gains in the early going turned into modest losses during afternoon action, but some late support helped the stock market settle higher for the sixth straight session. There weren't many catalysts to account for this session's trade; instead, stocks were largely left to move on their own. 

Amid a lack of news flow, early participants took their cues from overseas markets, which made solid gains on the back of better-than-expected economic data in Japan and word that stimulus policies in China will remain intact. A modest pullback by the greenback also provided early support to stocks. The Dollar Index settled with a 0.1% loss. 

Better holiday sales and rising commodities prices pushed stocks to their sixth straight gain and new highs for 2009.

Major indexes edged higher in light trading Monday after sales figures showed shoppers spent more freely this holiday season, a sign that consumers are feeling better about the economy.

Figures from MasterCard Advisors' SpendingPulse, which track all forms of payment, show retail sales rose 3.6 percent from Nov. 1 through Dec. 24, after dropping during that time last year. Adjusting for an extra shopping day between Thanksgiving and Christmas, the number was closer to a 1 percent gain.

*The NYSE DOW closed HIGHER +26.98 points +0.26% on Monday December 28 *
Sym. Last......... ........Change.......... 
Dow 10,547.08 +26.98 +0.26% 
Nasdaq 2,291.08 +5.39 +0.24% 
S&P 500 1,127.78 +1.30 +0.12% 
30-yr Bond 4.6870% +0.0840 

NYSE Volume 3,141,947,750  (prior 1,427,099,500)
Nasdaq Volume 1,249,055,250  (prior 632,669,560)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,402.41 closed monday
DAX 6,002.92 +45.48 +0.76% 
CAC 40 3,947.15 +34.42 +0.88% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,634.23 +139.52 +1.33%  
Hang Seng 21,480.22 -36.78 -0.17%  
Straits Times 2,855.68 +17.98 +0.63%

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks edge higher as shoppers step up spending

Stocks advance following welcome increase in retail sales; airlines lag on security concerns*

By Sara Lepro and Tim Paradis, AP Business Writers , On Monday December 28, 2009, 5:46 pm 

NEW YORK (AP) -- Better holiday sales and rising commodities prices pushed stocks to their sixth straight gain and new highs for 2009.

Major indexes edged higher in light trading Monday after sales figures showed shoppers spent more freely this holiday season, a sign that consumers are feeling better about the economy.

Figures from MasterCard Advisors' SpendingPulse, which track all forms of payment, show retail sales rose 3.6 percent from Nov. 1 through Dec. 24, after dropping during that time last year. Adjusting for an extra shopping day between Thanksgiving and Christmas, the number was closer to a 1 percent gain.

Consumer spending is one of the biggest drivers of economic growth and is important for a sustained recovery.

Meanwhile, commodities prices rose as the dollar fell, giving a boost to energy and materials stocks.

Airline stocks fell, helping to keep the market's gains in check, after two security incidents on Northwest flights over the weekend. The Dow Jones transportation average fell 0.6 percent.

With fewer traders in the market due to the holidays, and without any bad news, analysts say stocks are likely to drift higher during the final days of 2009.

"What's going to stop this is a question on a lot of people's minds," said Lawrence Creatura, portfolio manager at Federated Clover Investment Advisors. "And the answer so far is nothing."

Markets were closed for Christmas and will be closed again Friday for New Year's Day.

The Dow Jones industrial average rose 26.98, or 0.3 percent, to 10,547.08, its highest close since Oct. 1, 2008. The Dow transportation average fell 24.37, or 0.6 percent, to 4,163.49.

The Standard & Poor's 500 index rose 1.30, or 0.1 percent, to 1,127.78, and the Nasdaq composite index advanced 5.39, or 0.2 percent, to 2,291.08.

Bond prices came off their lows after an auction of $44 billion of two-year notes saw sufficient demand. Bond prices have been falling in recent weeks, pushing yields higher as stocks continue to advance amid improving economic data.

In total, the Treasury Department is issuing $118 billion of debt this week. Investors have worried this year that demand for government debt would wane amid the massive amounts of supply. But so far, most auctions have gone smoothly.

The yield on the previously auctioned 10-year Treasury note, which moves opposite its price, rose to 3.85 percent from 3.80 percent Thursday.

Stocks added to moderate gains from last week, when the market rose following upbeat reports on unemployment and durable goods orders. This week, readings on home prices and consumer confidence are among the few economic reports expected.

Stocks have managed to grind higher throughout December, but the gains have been more subdued than in recent months as investors have held back on making big moves going into the end of the year. The S&P 500 index is up 66.7 percent since hitting a 12-year low in March.

Commodities prices rose as the dollar fell. Commodities are priced in U.S. dollars, so when the greenback is weak they become more attractive to foreign buyers.

The ICE Futures U.S. dollar index, which measures the dollar against other major currencies, slipped 0.1 percent.

Crude oil gained 72 cents to settle at $78.77 a barrel on the New York Mercantile Exchange. Gold also rose.

Shares of Delta Air Lines Inc., which owns Northwest, fell 48 cents, or 4.1 percent, to $11.29. A failed attack on a Northwest flight on Christmas Day and another incident on the same route to Detroit from Amsterdam on Sunday raised security concerns.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange where consolidated volume came to a light 2.8 billion shares.

In other trading, the Russell 2000 index of smaller companies fell 0.32, or 0.1 percent, to 633.75.

Overseas, Japan's Nikkei stock average rose 1.3 percent to its highest close since late August, boosted by an increase in factory production. Germany's DAX index rose 0.8 percent, while France's CAC-40 rose 0.9 percent. Markets in Britain were closed for a holiday.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks started the session in higher ground, but stumbled as a lack of leadership kept the broader market from countering a rebound by the dollar. In turn, the S&P 500 saw its recent streak of gains come to an end. 

Participants returned to Tuesday's trade willing to extend the previous session's modest advance. That enabled the S&P 500 to open at its 52-week high with broad-based gains. This session's lack of leadership caught up with stocks, though. As the Dollar Index swung from a morning loss of roughly 0.5% to a gain of 0.3%, the broader equity market slipped into negative territory, unable to rally behind a leader. 

The stock market edged lower Tuesday, breaking a six-day advance as reports on home prices and consumer confidence did little to excite buyers.

Major indexes rose modestly in the early going but slipped as the dollar strengthened and tugged on commodities prices. A stronger dollar makes commodities more expensive for foreign buyers.

Trading was quiet, as it has been in recent days, and many investors left at the end of the day for a long New Year's weekend. The low volume held the Dow Jones industrial average to a 36-point range, the narrowest in nearly three years. The modest losses came after stocks had risen for six straight days.

*The NYSE DOW closed LOWER -1.67 points -0.02% on Tuesday December 29*
Sym. Last......... ........Change.......... 
Dow 10,545.41 -1.67 -0.02% 
Nasdaq 2,288.40 -2.68 -0.12% 
S&P 500 1,126.19 -1.59 -0.14% 
30-yr Bond 4.6870% +0.0840 

NYSE Volume 2,822,345,250  (prior 3,141,947,750)
Nasdaq Volume 1,198,968,750  (prior 1,249,055,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,437.61 +35.20 +0.65% 
DAX 6,011.55 +8.63 +0.14% 
CAC 40 3,959.98 +12.83 +0.33% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,638.06 +3.83 +0.04%  
Hang Seng 21,499.44 +19.22 +0.09%  
Straits Times 2,869.76 +14.08 +0.49% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks slip to break six-day winning streak

Stocks break winning streak as investors shrug off gains in consumer confidence, home prices*

 By Sara Lepro and Tim Paradis, AP Business Writers , On Tuesday December 29, 2009, 5:28 pm 

NEW YORK (AP) -- The stock market edged lower Tuesday, breaking a six-day advance as reports on home prices and consumer confidence did little to excite buyers.

Major indexes rose modestly in the early going but slipped as the dollar strengthened and tugged on commodities prices. A stronger dollar makes commodities more expensive for foreign buyers.

Trading was quiet, as it has been in recent days, and many investors left at the end of the day for a long New Year's weekend. The low volume held the Dow Jones industrial average to a 36-point range, the narrowest in nearly three years. The modest losses came after stocks had risen for six straight days.

Economic reports looked stronger but failed to galvanize investors. The Conference Board said its index of consumer confidence rose to 52.9 in December from 49.5 in November. That was slightly better than economists had forecast.

The index remains well below what is considered healthy. A reading of 90 or more signals a solid economy. However, the index has jumped from a historic low of 25.3 in February.

Home prices also rose. The Standard & Poor's/Case-Shiller's home price index rose for a fifth straight month in October, edging up 0.4 percent. The index was off 7.3 percent from October last year, roughly in line with expectations.

Analysts said there were few surprises in the economic numbers to drive the market.

"The reports we're seeing broadly reinforce the expectations we've had," said Jim Baird, partner and chief investment strategist for Plante Moran Financial Advisors in Kalamazoo, Mich. "It's slow and steady; It's not explosive improvement."

The Dow slipped 1.67, or less than 0.1 percent, to 10,545.41. The trading range was the tightest since February 2007 and the fifth straight day when the index has swung by fewer than 70 points.

The Standard & Poor's 500 index fell 1.58, or 0.1 percent, to 1,126.20, while the Nasdaq composite index fell 2.68, or 0.1 percent, to 2,288.40.

Interest rates fell after a successful auction of $42 billion of five-year notes. The Treasury Department is issuing $118 billion in debt this week as part of its efforts to fund its stimulus programs. With so much debt flooding the market, there's been concern this year that demand would diminish. Most auctions though have been able to attract decent demand.

The yield on the 10-year Treasury note, which is used as a benchmark for consumer loans, fell to 3.80 percent from 3.85 percent late Monday.

The dollar reversed an early slide and moved higher against other currencies.

Oil rose 10 cents to settle at $78.87 per barrel on the New York Mercantile Exchange. The stronger dollar held oil below $79. Gold fell.

Tim Speiss, chairman of Personal Wealth Advisors practice at Eisner LLP in New York, said he expects to see the market build on its recent gains at the start of the new year and through the first quarter.

"We're going to be building momentum," he said.

Falling stocks narrowly outpaced those that rose on the New York Stock Exchange, where volume came to a light 638.3 million shares.

In other trading, the Russell 2000 index of smaller companies fell 0.57, or 0.1 percent, to 633.18.

Overseas, Britain's FTSE 100 rose 0.7 percent, Germany's DAX index added 0.1 percent, and France's CAC-40 rose 0.3 percent. Japan's Nikkei stock average inched up less than 0.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks spent almost the entire session trading with moderate losses until some late support helped the major indices improve their position and settle at afternoon highs near the neutral line. Like most of the session's moves, the late lift came on light volume and without leadership. 

Moderate weakness in the broader market led stocks to open the session in negative territory. They did make an early run up to the neutral line in the minutes ahead of the Chicago Purchasing Managers Index, which came in at 60.0 to top expectations and hit its best level since 2006. However, stocks were met with resistance at the neutral line and spent the rest of the session without clear direction. 

Stocks ended the next-to-last day of 2009 little changed as welcome news on manufacturing helped offset a drop in commodities prices.

The market drew support Wednesday from a key economic indicator that signaled growth in Midwest manufacturing for a third straight month. The Chicago Purchasing Managers Index rose to 60 in December from 56.1 in November. The report found that production and new orders increased and employment improved.

A rising dollar and light volume held the market's gains in check. A gain in the dollar makes commodities, and thus the shares of companies that produce commodities, less attractive to foreign buyers. It also hurts the profits of companies that do business overseas.

*The NYSE DOW closed HIGHER +3.10 points +0.03% on Wednesday December 30*
Sym. Last......... ........Change.......... 
Dow 10,548.51 +3.10 +0.03% 
Nasdaq 2,291.28 +2.88 +0.13% 
S&P 500 1,126.42 +0.23 +0.02% 
30-yr Bond 4.6870% +0.0840 

NYSE Volume 2,683,201,750  (prior 2,822,345,250
Nasdaq Volume 1,314,929,380  (prior 1,198,968,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,397.86 -39.75 -0.73% 
DAX 5,957.43 -54.12 -0.90% 
CAC 40 3,935.50 -24.48 -0.62% 


*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,546.44 -91.62 -0.86%  
Hang Seng 21,496.62 -2.82 -0.01%  
Straits Times 2,879.76 +10.00 +0.35% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks little changed as dollar strengthens

Stock indexes end flat in light trading as dollar weighs on commodities; Dow gains 3 points*

By Sara Lepro and Tim Paradis, AP Business Writers , On Wednesday December 30, 2009, 5:11 pm 

NEW YORK (AP) -- Stocks ended the next-to-last day of 2009 little changed as welcome news on manufacturing helped offset a drop in commodities prices.

The market drew support Wednesday from a key economic indicator that signaled growth in Midwest manufacturing for a third straight month. The Chicago Purchasing Managers Index rose to 60 in December from 56.1 in November. The report found that production and new orders increased and employment improved.

A rising dollar and light volume held the market's gains in check. A gain in the dollar makes commodities, and thus the shares of companies that produce commodities, less attractive to foreign buyers. It also hurts the profits of companies that do business overseas.

Some investors have been buying the dollar in recent weeks on the belief that the economy is improving and the Federal Reserve will raise interest rates in the next year. That buying interest comes after a months-long slide in the greenback.

Rock-bottom interest rates have encouraged investors this year to move out of cash and into riskier assets such as stocks and commodities that have the potential to earn bigger returns. While a rise in interest rates would be a sign that the economy is on the right track, it could hurt the stock market's advance.

After a 24.7 percent rise in the benchmark Standard & Poor's 500 index this year, many investors have closed their books and are making few moves ahead of the start of 2010. Trading has been quiet with fewer players in the market, though light volume can also bring volatility.

"We've seen oil up and down, the dollar up and down, the market up and down," said Frank Ingarra, co-portfolio manager at Hennessy Funds. "I don't think we'll see a major move one way or the other."

The Dow Jones industrial average ticked up 3.10, or less than 0.1 percent, to 10,548.51, its highest close since Oct. 1, 2008. The Dow traded in a 45-point range, its sixth straight day of moving fewer than 70 points. The last time the Dow held such a tight range for that period was November 1996.

With one trading day left in the year, the Dow is up 61.1 percent from the 12-year low it reached in March, but is still down 25.5 from its peak of 14,164.53 in October 2007.

The S&P 500 index edged up 0.22, or less than 0.1 percent, to 1,126.42, while the Nasdaq composite index rose 2.88, or 0.1 percent, to 2,291.28.

The modest moves came a day after stocks broke a six-day winning streak as reports on home prices and consumer confidence failed to rally investors.

The ICE Futures U.S. dollar index, which measures the dollar against other major currencies, rose 0.1 percent. Gold and other metals fell. Oil prices rose after the government reported that the nation's crude supply fell for a fourth week in a row. Light, sweet crude added 41 cents to settle at $79.28 a barrel on the New York Mercantile Exchange.

Bond prices mostly rose following an auction of seven-year notes. In total, the Treasury auctioned $118 billion in debt for the week. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.79 percent from 3.80 percent. Interest rates on many consumer loans track the yield on the 10-year Treasury.

The day brought reminders that companies are still hurting from the blows of the recession.

The government was preparing to extend another multibillion loan to GMAC Financial Services to further stabilize the auto financing company, according to a person familiar with the matter. GMAC, instrumental to the operations of automakers General Motors Co. and Chrysler Group LLC, has already received $12.5 billion in taxpayer money and is 35 percent owned by the federal government. The person, who spoke on condition of anonymity because discussions weren't complete, said the bailout would be in the range of about $3 billion.

Meanwhile, Aetna Inc. said it expects to book a fourth-quarter charge of up to $65 million to cover the costs of layoffs and consolidations. Shares of the health insurer fell 71 cents, or 2.2 percent, to $32.15.

Falling stocks narrowly outpaced those that rose on the New York Stock Exchange, where volume came to an anemic 644.4 million shares.

In other trading, the Russell 2000 index of smaller companies rose 0.23, or less than 0.1 percent, to 633.41.

Overseas, Britain's FTSE 100 fell 0.7 percent, Germany's DAX index lost 0.9 percent, and France's CAC-40 fell 0.6 percent. Japan's Nikkei stock average fell 0.9 percent.


----------



## bigdog

Source: http://finance.yahoo.com

*Two and five year history charts included below where March 2009 really stands out!!!*

*The full-year stats are dwarfed by the indexes' recovery from the depths of last March, when they hit bottom. The Dow rose 3,881.00, or 59.3 percent from its March 9 close, while the S&P 500 rose 438.57, or 64.8 percent, and the Nasdaq regained 1,000.51, or 78.9 percent.*

Light news flow and a poor turnout left stocks to trade in lackluster fashion for most of the session, but some late pressure caused stocks to close at session lows and conclude the year on a weak note. Still, stocks settled only slightly below their 52-week highs with strong gains for the year. 

As has been the case all week, participants had few cues for trade this session. Of the few headlines there were, little reaction was made.

The stock market closed out a remarkable 2009 with a loss as investors bet the improving economy will lead the government to pull back on its stimulus measures. But stocks still managed their best year since 2003 as they recovered from the financial crisis and recession.

Thursday's trading, which came on extremely light pre-holiday volume, was a fitting end to a tumultuous year. Stocks fell to 12-year lows by early March on investors' increasing pessimism, then rallied on growing signs of recovery in what turned out to be Wall Street's biggest comeback since the Great Depression. In the last day of the year, more signs of healing first pleased investors, then had them concerned about the economy's ability to thrive without government help.

The thin volume exaggerated the market's moves. The Dow Jones industrial average fell 120.46, or 1.1 percent, to 10,428.05. For the year, the Dow rose 1,651.66, or 18.8 percent.

*The NYSE DOW closed LOWER -120.46 points -1.14% on Thursday December 31*
Sym. Last......... ........Change.......... 
Dow 10,428.05 -120.46 -1.14% 
Nasdaq 2,269.15 -22.13 -0.97% 
S&P 500 1,115.10 -11.32 -1.00% 

NYSE Volume 2,547,756,250  (prior 2,683,201,750)
Nasdaq Volume 1,254,659,250  (prior 1,314,929,380)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,412.88 +15.02 +0.28% 
DAX 5,957.43 closed 
CAC 40 3,936.33 +0.83 +0.02% 


*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,546.44 closed      
Hang Seng 21,872.50 +375.88 +1.75% 
Straits Times 2,897.62 closed      

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks fall sharply as investors close out 2009

Stocks slide in very light trading as investors close out their books on a stellar 2009*

By Tim Paradis, AP Business Writer , On Thursday December 31, 2009, 5:30 pm 

NEW YORK (AP) -- The stock market closed out a remarkable 2009 with a loss as investors bet the improving economy will lead the government to pull back on its stimulus measures. But stocks still managed their best year since 2003 as they recovered from the financial crisis and recession.

Thursday's trading, which came on extremely light pre-holiday volume, was a fitting end to a tumultuous year. Stocks fell to 12-year lows by early March on investors' increasing pessimism, then rallied on growing signs of recovery in what turned out to be Wall Street's biggest comeback since the Great Depression. In the last day of the year, more signs of healing first pleased investors, then had them concerned about the economy's ability to thrive without government help.

The thin volume exaggerated the market's moves. The Dow Jones industrial average fell 120.46, or 1.1 percent, to 10,428.05. For the year, the Dow rose 1,651.66, or 18.8 percent.

The broader Standard & Poor's 500 index, considered by professionals to be the market's best barometer, fell 11.32, or 1 percent, to 1,115.10. The S&P ended the year with a gain of 211.85, or 23.5 percent.

Meanwhile, the Nasdaq composite index fell 22.13, or 1 percent, to 2,269.15. Powered by the recovery in high-tech stocks, the Nasdaq ended 2009 with a gain of 696.12, 43.9 percent.

The full-year stats are dwarfed by the indexes' recovery from the depths of last March, when they hit bottom. The Dow rose 3,881.00, or 59.3 percent from its March 9 close, while the S&P 500 rose 438.57, or 64.8 percent, and the Nasdaq regained 1,000.51, or 78.9 percent.

News that weekly unemployment claims fell to the lowest level since July 2008 gave stocks an initial blip Thursday, but the market gave back the gains as traders took some profits to close out their books.

Joe Saluzzi, co-head of equity trading at Themis Trading LLC, said the light volume made it hard to read much into the day's move. However, he said the improved jobs figures stirred speculation that the government would be forced to withdraw supports for the economy such as low interest rates, which could fan inflation.

"How can they justify more stimulus if now you're in a growing economy," he said. "The question becomes can the U.S. economy really support itself without the assistance of the U.S. stimulus. My gut says no."

The Labor Department said new claims for unemployment benefits fell by 22,000 to a seasonally adjusted 432,000 last week. Analysts had expected claims would rise. The number of workers continuing to seek unemployment benefits fell by 57,000 to 4.9 million. Analysts predicted an increase.

Many investors believe that the stock market, which has had its best year since 2003, has seen the best of its gains for a while. So many of those working Thursday were moving money out of some stocks.

"Everyone is looking to put a ribbon on the year and wrap things up," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago.

Ablin said investors will be looking at upcoming corporate profit reports and jobs numbers to determine whether the market can hold its huge gains in 2010.

"I have a certain belief that the market can keep going, albeit at kind of a shallower pace, but that's going to require some help from corporate America and the economy itself," he said.

Two stocks fell for every one that rose on the New York Stock Exchange, where volume came to an extremely light 679.7 million shares.

Most bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.84 percent from 3.79 percent late Wednesday. The 10-year yield began 2009 at 2.22, a reflection of investors' high anxiety and need for the safety of government debt.

The dollar, whose decline this year has helped feed the rally in stocks, was mostly lower against other major currencies Thursday. Gold, which has soared in response to the falling dollar and investors' greater appetite for commodities in general, closed at $1,096.20 on the New York Mercantile Exchange after reaching a record high of $1,227.50 on Dec. 3.

Light, sweet crude rose 8 cents to settle at $79.36 per barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies fell 8.02, or 1.3 percent, to 625.39. It ended the year with a gain of 25.2 percent.

Overseas, Britain's FTSE 100 rose 0.3 percent, while France's CAC-40 rose less than 0.1 percent. Markets in Germany and Japan were closed.

0346


----------



## bigdog

Source: http://finance.yahoo.com

The new year began on a strong note as all three major indices made their way to new 52-week highs on the back of broad-based buying. Though trading volume wasn't quite back to average levels, the move was supported by a solid pick up in participation. 

Stocks spent the entire session sporting strong gains. Initial support came amid handsome overseas gains and a pullback by the greenback.

The stock market has extended its 2009 rally into the new year.

Major stock indexes surged more than 1.5 percent Monday after improving news on manufacturing from China to the U.S. pointed to a strengthening global economy. The Dow Jones industrial average picked up 156 points.

A U.S. trade group said manufacturing activity expanded faster than expected in December. The Institute for Supply Management's index of manufacturing activity rose to 55.9 from 53.6 in November, more than analysts had expected.

*The NYSE DOW closed HIGHER +155.91 points +1.50%  on Monday January 4*
Sym. Last......... ........Change.......... 
Dow 10,583.96 +155.91 +1.50% 
Nasdaq 2,308.42 +39.27 +1.73% 
S&P 500 1,132.99 +17.89 +1.60% 
30-yr Bond 46.60% +0.19 

NYSE Volume 4,550,828,000  (prior 2,547,756,250)
Nasdaq Volume 1,955,917,500  (prior 1,254,659,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,500.34 +87.46 +1.62% 
DAX 6,048.30 +90.87 +1.53% 
CAC 40 4,013.97 +77.64 +1.97% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,654.79 +108.35 +1.03%  
Hang Seng 21,823.28 -49.22 -0.23%  
Straits Times 2,894.55 -3.07 -0.11% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks climb on manufacturing reports, rising oil

Stocks advance as improving manufacturing reports, rising oil boost hopes for economic rebound*

By Tim Paradis, AP Business Writer , On Monday January 4, 2010, 4:26 pm EST 

NEW YORK (AP) -- The stock market has extended its 2009 rally into the new year.

Major stock indexes surged more than 1.5 percent Monday after improving news on manufacturing from China to the U.S. pointed to a strengthening global economy. The Dow Jones industrial average picked up 156 points.

A U.S. trade group said manufacturing activity expanded faster than expected in December. The Institute for Supply Management's index of manufacturing activity rose to 55.9 from 53.6 in November, more than analysts had expected.

Overseas markets had started out higher on news that China's manufacturing industry expanded last month at the fastest rate in 20 months.

There were also positive signs on manufacturing activity in Europe. A monthly purchasing managers' index for the 16 countries that use the euro rose to a 21-month high, and a similar survey for Britain rose to a 25-month high.

Meanwhile a weakening dollar boosted commodities prices, lifting energy and materials stocks. An analyst's upgrade of semiconductor maker Intel Corp. sent technology shares higher.

Joe Battipaglia, market strategist for the private client group at Stifel Nicolaus & Co. in Yardley, Pa., said the improved manufacturing activity boosted expectations that an economic recovery is taking hold. In particular, investors are hoping that strength in China will spill over into other countries.

"It looks like China is now the locomotive for the global economic train," Battipaglia said.

Battipaglia warned, however, that strength in China will only last if hard-hit developed economies like the U.S. and Europe can heal fast enough to absorb some of the goods China is creating.

According to preliminary calculations, the Dow industrials rose 155.91, or 1.5 percent, to 10,583.96. The Standard & Poor's 500 index rose 17.89, or 1.6 percent, to 1,132.99, while the Nasdaq composite index rose 39.27, or 1.7 percent, to 2,308.42.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, edged down to 3.83 percent from 3.84 percent late Thursday. Markets were closed Friday for New Year's Day.

Crude oil rose $2.15 to settle at $81.51 per barrel on the New York Mercantile Exchange.

The technology industry got a boost after Robert W. Baird & Co. upgraded chipmaker Intel Corp. to "Outperform" and increased its price target on the stock to $26. The stock has traded in a range of $12.05 to $21.27 in the past 12 months.

The dollar fell against other currencies, while gold prices rose.

Four stocks rose for every one that fell on the New York Stock Exchange, where volume came to a relatively light 1 billion shares.

The Russell 2000 index of smaller companies rose 14.71, or 2.4 percent, to 640.10.

Britain's FTSE 100 rose 1.6 percent, Germany's DAX index advanced 1.5 percent, and France's CAC-40 gained 2 percent. Japan's Nikkei stock average rose 1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

For the most part, the stock market lacked direction this session, but it still managed to put together a late advance that helped it settle near its session high. That helped stocks book a modest gain and close near fresh 52-week highs. 

Financials were a primary source of support this session. The sector spiked 1.7% as diversified banks climbed 2.6%. European banking giant Barclays (BCS 19.34, +1.01) was especially strong after analysts at Deutsche Bank picked the name as one of its top choices for European bank stocks. 

Leadership from financials helped pull stocks up from negative territory a few times this session. Technical support also helped provide a base from which stocks could rebound. 

Investors turned cautious on the second trading day of the year as a pair of economic reports sent mixed signals about how the recovery was going.

Major stock indexes ended narrowly mixed a day after the Dow Jones industrials soared more than 150 points on upbeat manufacturing reports in the U.S. and China. Uncertainty over key reports this week on employment and the service industry also kept buyers at bay.

The economic news on Tuesday was muddled. The Commerce Department reported that factory orders rose by more than twice what had been expected in November, reflecting demand in the steel, computer and chemical industries. The gain of 1.1 percent easily beat the 0.5 percent forecast of analysts polled Thomson Reuters.

*The NYSE DOW closed LOWER -11.94  points -0.11%  on Tuesday January 5*
Sym. Last......... ........Change.......... 
Dow 10,572.02 -11.94 -0.11% 
Nasdaq 2,308.71 +0.29 +0.01% 
S&P 500 1,136.52 +3.53 +0.31% 
30-yr Bond 45.93% -0.67 

NYSE Volume 5,650,832,500  (prior 4,550,828,000)
Nasdaq Volume 2,395,186,000  (prior 1,955,917,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,522.50 +22.16 +0.40% 
DAX 6,031.86 -16.44 -0.27% 
CAC 40 4,012.91 -1.06 -0.03% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,681.83 +27.04 +0.25%  
Hang Seng 22,279.58 +456.30 +2.09%  
Straits Times 2,920.28 +25.73 +0.89% 

http://finance.yahoo.com/news/Mixed-economic-data-higher-apf-3753724948.html?x=0

*Mixed economic data, higher dollar press stocks

Stocks end flat as rise in factory orders, drop in pending home sales cloud economic picture*

By Tim Paradis, AP Business Writer , On Tuesday January 5, 2010, 5:15 pm 

NEW YORK (AP) -- Investors turned cautious on the second trading day of the year as a pair of economic reports sent mixed signals about how the recovery was going.

Major stock indexes ended narrowly mixed a day after the Dow Jones industrials soared more than 150 points on upbeat manufacturing reports in the U.S. and China. Uncertainty over key reports this week on employment and the service industry also kept buyers at bay.

The economic news on Tuesday was muddled. The Commerce Department reported that factory orders rose by more than twice what had been expected in November, reflecting demand in the steel, computer and chemical industries. The gain of 1.1 percent easily beat the 0.5 percent forecast of analysts polled Thomson Reuters.

Meanwhile, the number of buyers who agreed to purchase previously occupied homes fell sharply in November, an indication that sales will fall this winter. The National Association of Realtors said its index of pending home sales fell 16 percent, the first drop after nine months of gains. Some drop had been expected as investors raced to buy homes ahead of a tax credit deadline, which was later extended.

A strengthening dollar held stocks to modest moves. A strong dollar makes commodities and shares of the companies that produce them less attractive to foreign buyers. It also hurts the profits of companies that do business overseas.

Investors are looking for clues about the direction of the economy in 2010 after a nine-month rally pushed stocks to steep gains for 2009. Now, analysts say, further signs of strengthening in the economy are needed to help stocks hold their gains. Major stock indexes stand at 15-month highs.

The Dow industrials slipped 11.94, or 0.1 percent, to 10,572.02. The broader Standard & Poor's 500 index rose 3.53, or 0.3 percent, to 1,136.52, its highest close since Oct. 1, 2008. The Nasdaq composite index edged up 0.29, or less than 0.1 percent, to 2,308.71.

Three stocks rose for every two that fell on the New York Stock Exchange, where volume rose to 1.2 billion shares from 1 billion Monday.

Bond prices rose, pushing interest rates lower. The yield on the benchmark 10-year Treasury note fell to 3.76 percent from 3.83 percent late Monday.

Crude oil rose 26 cents to settle at $81.77 a barrel on the New York Mercantile Exchange.

The early days of January are when many investors, from pension funds to individuals, pump money into the markets as they set up their investment strategies for the year. Markets often rise as the new money arrives.

However Nick Kalivas, vice president of financial research at MF Global in Chicago, said investors are cautious ahead of reports on the service industry and employment later in the week because they want to confirm that economy is healing.

"There is a lot of data out the next couple of days that people want to see before they chase a market at its highs," Kalivas said.

The Institute for Supply Management will report its index of activity in the service industry on Wednesday, and on Friday the market will get the most important economic reading of the month, the Labor Department's employment report.

Ford Motor Co.'s shares jumped after the automaker said its December sales jumped 33 percent fed by demand for midsize cars like the Ford Fusion, whose sales rose 83 percent. Ford also had its first full-year gain in U.S. market share since 1995. Ford rose 68 cents, or 6.6 percent, to $10.96.

The Russell 2000 index of smaller companies fell 1.61, or 0.3 percent, to 638.49.

Britain's FTSE 100 rose 0.4 percent, Germany's DAX index fell 0.3 percent, and France's CAC-40 slipped less than 0.1 percent. Japan's Nikkei stock average rose 0.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Despite plenty of potential catalysts for trade, the broader stock market lacked direction for the second straight session. Natural resource plays showed considerable strength, though. 

Participants got a glimpse into the government's official nonfarm payrolls report, which is due Friday, via the latest ADP Employment Report. The ADP report stated that 84,000 jobs were lost in December, down from 145,000 job losses in November. Still, the December tally was a bit more than the 75,000 that many had expected. 

Investors treaded water for a second day Wednesday as a batch of mixed economic reports and signs of division among Federal Reserve policymakers offered little insight into the economy.

Stocks ended little changed but modest gains pushed the Standard & Poor's 500 index to a new 15-month high. The cautious tone seen Tuesday and Wednesday comes as investors await the government's monthly employment report Friday.

The day's economic news wasn't enough to galvanize traders still trying to determine which direction the market will take in the early part of 2010.

*The NYSE DOW closed HIGHER +1.66  points +0.02% on Wednesday January 6*
Sym. Last......... ........Change.......... 
Dow 10,573.68 +1.66 +0.02% 
Nasdaq 2,301.09 -7.62 -0.33% 
S&P 500 1,137.14 +0.62 +0.05% 
30-yr Bond 46.71% +0.78 

NYSE Volume 5,517,165,000  (prior 5,650,832,500)
Nasdaq Volume 2,269,902,500  (prior 2,395,186,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,530.04 +7.54 +0.14% 
DAX 6,034.33 +2.47 +0.04% 
CAC 40 4,012.91 -1.06 -0.03% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,731.45 +49.62 +0.46%  
Hang Seng 22,416.67 +137.09 +0.62%  
Straits Times 2,930.49 +10.21 +0.35%

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks end flat following mixed economic reports

Stocks end little changed after mixed signs about economy; traders look to monthly jobs report*

By Tim Paradis, AP Business Writer , On Wednesday January 6, 2010, 5:07 pm 

NEW YORK (AP) -- Investors treaded water for a second day Wednesday as a batch of mixed economic reports and signs of division among Federal Reserve policymakers offered little insight into the economy.

Stocks ended little changed but modest gains pushed the Standard & Poor's 500 index to a new 15-month high. The cautious tone seen Tuesday and Wednesday comes as investors await the government's monthly employment report Friday.

The day's economic news wasn't enough to galvanize traders still trying to determine which direction the market will take in the early part of 2010.

A sign of growth in the services industry gave some support to stocks. The Institute for Supply Management said its services index rose to 50.1 in December from 48.7 in November. A reading above 50 signals growth.

The welcome news about service companies was offset by a report that employers cut 84,000 private sector jobs last month. The ADP National Employment Report came in worse than the forecasts of analysts polled by Thomson Reuters.

The latest batch of reports are similar to what investors have seen months -- figures that reveal modest improvements but remind them that the economy remains weak. The stock market has been rising for 10 months on signs that the economy is recovering but analysts say stronger signs of growth will be needed to feed its advance in 2010.

Minutes from the Fed's December meeting showed that a "few members" thought that the central bank's $1.25 trillion program to buy mortgages could need to grow, rather than be phased out on March 31. The report did little to deepen investors' insight into the Fed's intentions for interest rates. Treasury prices fell as the minutes underscored some traders' concerns about inflation.

Dave Rovelli, managing director of trading at brokerage Canaccord Adams in New York, said traders aren't willing to place big bets ahead of the Labor Department's report at the end of the week. Economists expect that the unemployment rate ticked up to 10.1 percent in December from 10 percent in November.

Weekly figures for initial claims for jobless benefits are due on Thursday.

"The unemployment number on Friday is the big deal," he said. "And it's light volume so I wouldn't be surprised if we just drift higher."

According to preliminary calculations, the Dow Jones industrial average rose 1.66, or less than 0.1 percent, to 10,573.68. The broader Standard & Poor's 500 index rose 0.62, or 0.1 percent, to 1,137.14, while the Nasdaq composite index fell 7.62, or 0.3 percent, to 2,301.09.

Three stocks rose for every two that fell on the New York Stock Exchange, where volume came to 1.1 billion shares, in line with Tuesday.

Bond prices fell, pushing their yields higher. The yield on the benchmark 10-year Treasury note rose to 3.83 percent from 3.76 percent late Tuesday.

John Dorfman, chairman of Thunderstorm Capital LLC in Boston, said the market is likely being weighed down by investors who waited to sell some of their winning stocks from last year until this week because the taxes will fall under 2010. Beyond tax moves, however, he said many traders are going to be reluctant to wade back into stocks until the market shows more direction. Ultimately, he expects improvements in the economy will push stocks higher.

"My own view is that a genuine and fairly strong recovery is under way and that the market will probably gain 10 percent or more in 2010," Dorfman said.

The dollar mostly fell against other major currencies. Gold rose.

Crude oil rose above $83 per barrel for the first time since October 2008, settling up $1.41 at $83.18 on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies fell 0.54, or 0.1 percent, to 637.95.

Britain's FTSE 100 rose 0.1 percent, Germany's DAX index rose less than 0.1 percent, and France's CAC-40 advanced 0.1 percent. Japan's Nikkei stock average rose 0.5 percent.


----------



## bigdog

Source: http://finance.yahoo.com

A bounce by the buck weighed down stocks during the early going, but strength among financial issues helped carry the broader stock market to its fourth straight gain. 

The dollar traded with strength for the entire session and finished with a 0.6% gain against a basket of foreign currencies. Though that gain weighed on the broader market, it was particularly burdensome for raw materials stocks, which had outperformed during the previous session. Materials stocks pared their losses, though; they finished with a 0.5% loss.

Investors' cautious optimism about the job market gave stocks a modest lift Thursday, one day before the government's report on December employment.

Stocks closed mostly higher after many retailers issued upbeat holiday sales figures and the Labor Department reported a leveling of the number of newly laid-off workers applying for unemployment benefits.

The Dow Jones industrial average and the Standard & Poor's 500 index closed at new 15-month highs, while the Nasdaq composite index edged lower.

Some overseas markets fell after China took steps to limit lending and prevent its economy from overheating. Traders fear the moves could affect economic growth around the world.

*The NYSE DOW closed HIGHER +33.18 +0.31%  on Thursday January 7*
Sym. Last......... ........Change.......... 
Dow 10,606.86 +33.18 +0.31% 
Nasdaq 2,300.05 -1.04 -0.05% 
S&P 500 1,141.69 +4.55 +0.40% 
30-yr Bond 4.69% +0.18 

NYSE Volume 5,901,185,500  (prior 5,517,165,000)
Nasdaq Volume 2,307,645,000  (prior 2,269,902,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,526.72 -3.32 -0.06% 
DAX 6,019.36 -14.97 -0.25% 
CAC 40 4,012.91 -1.06 -0.03% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,681.66 -49.79 -0.46%  
Hang Seng 22,269.45 -147.22 -0.66%  
Straits Times 2,913.25 -17.24 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks notch modest gains ahead of employment data

Most stocks advance as investors look to December jobs report; Dow stands at 15-month high*


By Tim Paradis, AP Business Writer , On Thursday January 7, 2010, 5:38 pm 

NEW YORK (AP) -- Investors' cautious optimism about the job market gave stocks a modest lift Thursday, one day before the government's report on December employment.

Stocks closed mostly higher after many retailers issued upbeat holiday sales figures and the Labor Department reported a leveling of the number of newly laid-off workers applying for unemployment benefits.

The Dow Jones industrial average and the Standard & Poor's 500 index closed at new 15-month highs, while the Nasdaq composite index edged lower.

Stuart Schweitzer, global markets strategist at J.P. Morgan's Private Bank in New York, said markets have been in a holding pattern as traders looked to Friday's jobs report from the Labor Department. Analysts are expecting job losses will shrink from the 11,000 lost in November, though some economists expect the economy to add jobs.

"Everyone is waiting for the fireworks," Schweitzer said.

He predicted investors would take in stride a modest loss or gain in jobs, but that any number well outside expectations could cause worries about a slide in the economy or, conversely, that rapid growth would risk triggering inflation.

"It's a case of not too hot and not too cold, but somewhere in the middle," he said.

The government reported a slight rise in claims for unemployment benefits, though the increase was less than expected. The Labor Department said initial claims rose by 1,000 last week. A four-week average of claims is at its lowest point since September 2008 and nearing the point where economists say the economy will begin to create jobs.

Meanwhile, upbeat December retail sales reports and increased forecasts lifted some retailers. Shoppers spent a little more over the holiday season, though consumer spending is expected to be weak amid continuing high unemployment and tight credit.

Sears Holdings Corp., which operates Kmart and Sears, Roebuck and Co., eked out a small gain and offered a fourth-quarter forecast that was sharply above analysts' estimates. Others, including Macy's Inc. and Limited Brands Inc., boosted their profit expectations.

The Dow rose 33.18, or 0.3 percent, to 10,606.86. The broader S&P 500 index rose 4.55, or 0.4 percent, to 1,141.69. It was the highest close for both indexes since Oct. 1, 2008.

The Nasdaq fell 1.04, or 0.1 percent, to 2,300.05.

Three stocks rose for every two that fell on the New York Stock Exchange, where volume came to 1.2 billion shares, compared with 1.1 billion Wednesday.

Bond prices were little changed. The yield on the benchmark 10-year Treasury note was unchanged at 3.83 percent, compared with late Wednesday.

The dollar rose, and gold fell. A gain in the dollar weighs on commodity prices by making them more expensive for overseas buyers. That hurts energy and materials companies.

Crude oil fell 52 cents to $82.66 per barrel on the New York Mercantile Exchange.

Thursday's reports come as investors hunt for more evidence of economic strength to sustain a 10-month bull run in the stock market. Trading in recent days has offered few clues about the direction of the markets in 2010 as investors held back ahead of the jobs report. A stubbornly high unemployment rate remains one of the biggest drags on the economy, and investors are still waiting for hiring to rebound before concluding that a true recovery has taken hold.

Among retailers, Sears jumped $10.31, or 11.6 percent, to $99.18, while Macy's rose 39 cents, or 2.3 percent, to $17.49. Limited slipped 31 cents to $18.76.

Homebuilder Lennar Corp. said orders rose during its fiscal fourth quarter for the first time in more than three years. Buyers were taking advantage of lower prices and federal tax credits. The company also reported a profit as it benefited from an income tax adjustment. Its shares rose $1.76, or 12.3 percent, to $15.46.

The Russell 2000 index of smaller companies rose 4.02, or 0.6 percent, to 641.97.

Some overseas markets fell after China took steps to limit lending and prevent its economy from overheating. Traders fear the moves could affect economic growth around the world.

Britain's FTSE 100 fell 0.1 percent, Germany's DAX index lost 0.3 percent, and France's CAC-40 rose 0.2 percent. Japan's Nikkei stock average fell 0.5 percent.


----------



## bigdog

Source: http://finance.yahoo.com

For the week, the Dow advanced 1.8 percent, the S&P 500 index jumped 2.7 percent and the Nasdaq added 2.1 percent.

The latest monthly payrolls report and a raft of analyst rating revisions made up for a lack of corporate headlines this session. Though the general reaction to those reports was negative, stocks still managed to make their way higher. 

The early tone to trade was negative as participants pressured stocks upon learning that December nonfarm payrolls dropped by 85,000, which took many by surprise since the consensus called for no change to payrolls. However, nonfarm payrolls for November were revised upward to show an increase of 4,000 jobs. That marked the first payroll increase in two years and helped keep the unemployment rate at 10.0%, which was expected. 

A disappointing jobs report couldn't stop the stock market from having a strong start to the new year.

Stocks zigzagged for much of Friday but closed higher as investors took in stride the Labor Department's news that employers cut 85,000 jobs in December, far more than the 8,000 analysts expected. The disappointing numbers were offset by a pleasant surprise: November's report was revised to show the first job gains in nearly two years.

The Dow Jones industrial average tacked on 11 points to end at a new 15-month high, while broader indicators logged bigger gains. All the major indexes posted advances for the week, a reassuring sign given that stocks often end the year higher after a strong start to January.

*The NYSE DOW closed HIGHER +11.33 +0.11% on Friday January 8*
Sym. Last......... ........Change.......... 
Dow 10,618.19 +11.33 +0.11% 
Nasdaq 2,317.17 +17.12 +0.74% 
S&P 500 1,144.98 +3.29 +0.29% 
30-yr Bond 4.69% +0.18 

NYSE Volume 4,885,615,500  (prior 5,901,185,500)
Nasdaq Volume 2,166,563,000  (prior 2,307,645,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,534.24 +7.52 +0.14% 
DAX 6,037.61 +18.25 +0.30% 
CAC 40 4,012.91 -1.06 -0.03% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,798.32 +116.66 +1.09% 
Hang Seng 22,296.75 +27.30 +0.12% 
Straits Times 2,922.76 +9.51 +0.33% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks gain as traders take jobs report in stride

Stocks end higher as disappointing December jobs report leaves investors unfazed; Dow adds 11*

By Stephen Bernard and Tim Paradis, AP Business Writers , On Friday January 8, 2010, 5:48 pm 

NEW YORK (AP) -- A disappointing jobs report couldn't stop the stock market from having a strong start to the new year.

Stocks zigzagged for much of Friday but closed higher as investors took in stride the Labor Department's news that employers cut 85,000 jobs in December, far more than the 8,000 analysts expected. The disappointing numbers were offset by a pleasant surprise: November's report was revised to show the first job gains in nearly two years.

The Dow Jones industrial average tacked on 11 points to end at a new 15-month high, while broader indicators logged bigger gains. All the major indexes posted advances for the week, a reassuring sign given that stocks often end the year higher after a strong start to January.

The December job losses were disconcerting as a rebound in employment is key to a sustained recovery in the economy. But the market likely focused on the fact that a pickup in the labor market often lags other improvements following a recession.

"I don't think that anyone should expect a flip of a switch," said Linda Duessel, equity market strategist at Federated Investors. "We were losing 600,000, 700,000 jobs a year ago and we are now toggling around zero. There is nothing disappointing about that."

Figures from recent months were revised to show that the economy generated 4,000 jobs in November. But the revisions also showed a loss of 16,000 more jobs than previously estimated in October.

The government also reported the unemployment rate held at 10 percent. That raised concerns that unemployed or fearful consumers won't spend, making it harder for companies to generate the big profits investors have been predicting.

Reports next week will bring an early look at how companies did in the October-December quarter. Investors are looking for companies to report stronger sales and outlooks for the rest of this year.

Peter Cardillo, chief market economist at the brokerage Avalon Partners Inc. in New York, said the trend in the labor market is still positive. He noted many of the December cuts were in the construction industry, which is likely due to seasonal slowdowns.

"It was a disappointment, but I think we're on the right track. I think unemployment will begin to show growth very shortly," he said.

The Dow rose 11.33, or 0.1 percent, to 10,618.19. The Standard & Poor's 500 index rose 3.29, or 0.3 percent, to 1,144.98, its fifth straight advance. The Dow and the S&P 500 index ended at their highest levels since Oct. 1, 2008.

The Nasdaq composite index rose 17.12, or 0.7 percent, to 2,317.17.

For the week, the Dow advanced 1.8 percent, the S&P 500 index jumped 2.7 percent and the Nasdaq added 2.1 percent. Most of the climb came Monday, the first trading day of the year, when improving news on manufacturing in China, the U.S. and Europe hinted at a strengthening global economy.

The climb for the week was a welcome sign for 2010. Of the last 36 times when the S&P 500 index carved gains in the first five days of January, it ended the year higher 31 times, or 86.1 percent of the time, according to the Stock Trader's Almanac.

Next week, investors will get reports on retail sales and industrial production. A handful of corporate earnings reports from the final quarter of 2009 will start to arrive. Aluminum producer Alcoa Inc. is scheduled to report its results after the closing bell on Monday and banker JPMorgan Chase & Co. reports on Friday.

In other trading, interest rates held in a narrow range on the bond market. The yield on the 10-year Treasury note was flat at 3.83 percent from late Thursday.

The dollar and gold both fell.

The Russell 2000 index of smaller companies rose 2.59, or 0.4 percent, to 644.56.

Three stocks rose for every two that fell on the New York Stock Exchange, where volume fell to 994.2 million shares from 1.2 billion Thursday.

Britain's FTSE 100 rose 0.1 percent. Germany's DAX index gained 0.3 percent, while France's CAC-40 rose 0.5 percent. Japan's Nikkei stock average rose 1.1 percent.
0751


----------



## bigdog

Source: http://finance.yahoo.com

Despite mediocre data, the Dow and the S&P 500 made their way to fractionally improved 52-week highs amid modest support. Stocks were generally flat in the early going. 

Participants showed little reaction to news that advance retail sales for December decreased 0.3%, which was weaker than the 0.5% increase that had been expected. Sales less autos decreased 0.2%, but that was also worse than the 0.3% increase that many had forecast. The figures were underwhelming, but many attributed the drop to the previous month's 1.8% spike in retail sales and 1.9% jump in sales less autos. 

The Dow Jones industrial average closed above 10,700 for the first time in 15 months on Thursday as investors bet that stronger results would revive a disappointing start to the corporate earnings season.

The stock market's advance was uneven, with technology stocks rising ahead of quarterly earnings from chip maker Intel Corp. and financials climbing before a profit report from JPMorgan Chase & Co. due Friday. Safe havens like utilities and consumer staples stocks fell.

The Dow industrials rose 30 points, while broader indexes posted bigger advances.

*The NYSE DOW closed HIGHER +29.78 +0.28% on Thursday January 15*
Sym. Last......... ........Change.......... 
Dow 10,710.55 +29.78 +0.28% 
Nasdaq 2,316.74 +8.84 +0.38% 
S&P 500 1,148.46 +2.78 +0.24% 
30-yr Bond 4.6780% -0.2900 

NYSE Volume 4,459,608,500 
Nasdaq Volume 2,301,466,000 

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,498.20 +24.72 +0.45% 
DAX 5,988.88 +25.74 +0.43% 
CAC 40 4,015.77 +14.91 +0.37% 


*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,907.68 +172.65 +1.61%  
Hang Seng 21,716.95 -31.65 -0.15%  
Straits Times 2,909.52 +21.14 +0.73%  

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks rise as optimism builds about earnings

Stocks advance as investors look past weak start to earnings seasons; Dow tops 10,700*

By Stephen Bernard and Tim Paradis, AP Business Writers , On Thursday January 14, 2010, 4:48 pm 

NEW YORK (AP) -- The Dow Jones industrial average closed above 10,700 for the first time in 15 months on Thursday as investors bet that stronger results would revive a disappointing start to the corporate earnings season.

The stock market's advance was uneven, with technology stocks rising ahead of quarterly earnings from chip maker Intel Corp. and financials climbing before a profit report from JPMorgan Chase & Co. due Friday. Safe havens like utilities and consumer staples stocks fell.

The Dow industrials rose 30 points, while broader indexes posted bigger advances.

The gains came after SAP, a major business software maker based in Germany, said its fourth-quarter revenue fell less than forecast. That provided some reassurance that companies are becoming more willing to invest in technology. Investors are also watching closely to see whether companies can bolster their earnings with solid revenues instead of just continuing to cut costs.

Anticipation that corporate earnings reports would turn around following a weak showing by aluminum maker Alcoa Inc. on Monday helped investors look past a mixed bag of economic news. Intel's revenue and earnings came in far ahead of analysts' expectations after the closing bell.

The government said businesses increased their inventories by a larger-than-expected amount in November. The gain is a welcome sign for the economy and suggests that businesses are feeling more confident that sales will pick up. It was the second straight month that stockpiles rose after 13 months of declines.

The positive news on inventories helped offset weaker reports on retail sales and initial unemployment claims.

The Commerce Department said business inventories rose by 0.4 percent in November, double the increase economists expected. Earlier, it said retail sales fell 0.3 percent in December. Economists polled by Thomson Reuters had been expected an increase.

Dave Stepherson, portfolio manager at Hardesty Capital Management in Baltimore, said the retail sales report was disappointing, but not terribly surprising because of uncertainty still surrounding the job market.

"You're not going to get one until you get the other," Stepherson said. "It's sort of a catch-22."

The Labor Department reported workers seeking unemployment benefits for the first time rose by 11,000 last week, more than the 3,000 economists had expected. The jump was due partly to typical seasonal layoffs in the retail, manufacturing and construction industries.

Investors are becoming accustomed to seeing jagged indicators on the economy and have generally not lost their cool on the occasional poor economic report. However analysts widely believe that there will need to be a meaningful pickup in job creation if a 10-month stock rally is to continue.

"The economy has already shown signs of improvement and in investors' minds the question is how much of that is already priced into the market," said Brian Lazorishak, portfolio manager at Chase Investment Council in Charlottesville, Va.

According to preliminary calculations, the Dow rose 29.78, or 0.3 percent, to 10,710.55. The broader Standard & Poor's 500 index rose 2.78, or 0.2 percent, to 1,148.46, and the Nasdaq composite index rose 8.84, or 0.4 percent, to 2,316.74.

Demand for the safety of government debt rose following the economic reports and strong demand at a Treasury Department auction of $13 billion in 30-year bonds. Treasury prices rose, pushing yields lower. The yield on the benchmark 10-year note fell to 3.75 percent from 3.80 percent late Wednesday.

SAP rose most of the day but ended down 23 cents to $50.16. Intel rose 52 cents to $21.48 and gained 2 percent in after-hours electronic trading following the release of its results.

JPMorgan rose 44 cents to $44.69.

The dollar was mixed again other major currencies. Gold rose modestly.

Crude oil fell 26 cents to $79.39 per barrel on the New York Mercantile Exchange.

Three stocks rose for every two that fell on the New York Stock Exchange. Volume, which has been light since late 2009, fell to 887.4 million shares compared with 969.7 million Wednesday.

The Russell 2000 index of smaller companies rose 2.87, or 0.5 percent, to 646.43.

Overseas markets rallied as investors became more comfortable with China's recent moves to tighten monetary policy. China is making the moves, such as forcing banks to hold more reserves, to discourage excess lending.

Britain's FTSE 100 gained 0.5 percent, Germany's DAX index and France's CAC-40 each rose 0.4 percent. Japan's Nikkei stock average rose 1.6 percent


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week down 8.54, or 0.1 percent, at 10,609.65. The Standard & Poor's 500 index fell 8.95, or 0.8 percent, to 1,136.03. The Nasdaq composite index fell 29.18, or 1.3 percent, to 2,287.99.

Sellers crowded the market to hand stocks their worst loss in four weeks. The broad-based push came despite better-than-expected earnings from bellwethers Intel and JPMorgan. 

Semiconductor giant Intel (INTC 20.80, -0.68) announced after the previous session's close better-than-expected earnings of $0.40 per share. It even went on and issued solid revenue guidance for the current quarter. However, participants opted to sell the news of the beat after they had watched the stock climb appreciably in the sessions ahead of its report. The stock is still up roughly 2% since the start of the year.

The Dow Jones industrial average had its first triple-digit drop of 2010 as mounting losses from loans at JPMorgan Chase & Co. and a disappointing consumer sentiment reading sent investors rushing from stocks.

Financial stocks led the market lower Friday, pulling major stock indexes down about 1 percent from 15-month highs. The Dow lost almost 101 points, its steepest drop since Dec. 31. Interest rates fell in the bond markets as investors bought Treasurys in search of safety.

JPMorgan, regarded as one of the strongest U.S. banks, warned investors it was too soon to say that losses on mortgages and other loans have peaked. The weakness in JPMorgan's consumer business hurt other financial stocks, which led the rest of the market lower.

*The NYSE DOW closed LOWER +29.78 +0.28% on Friday January 15*
Sym. Last......... ........Change.......... 
Dow 10,609.65 -100.90 -0.94% 
Nasdaq 2,287.99 -28.75 -1.24% 
S&P 500 1,136.03 -12.43 -1.08% 
30-yr Bond 4.5750% -0.4900 

NYSE Volume 5,459,121,500 (prior day 4,459,608,500) 
Nasdaq Volume 2,685,826,500 (prior day 2,301,466,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,455.37 -42.83 -0.78% 
DAX 5,875.97 -112.91 -1.89% 
CAC 40 3,954.38 -61.39 -1.53% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,982.10 +74.42 +0.68% 
Hang Seng 21,654.16 -62.79 -0.29% 
Straits Times 2,908.42 -1.10 -0.04% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks fall on JPMorgan results, sentiment survey

Stocks slide as JPMorgan's revenue falls short; consumer sentiment fans concerns about economy*

By Tim Paradis, AP Business Writer , On Friday January 15, 2010, 5:58 pm EST 

NEW YORK (AP) -- The Dow Jones industrial average had its first triple-digit drop of 2010 as mounting losses from loans at JPMorgan Chase & Co. and a disappointing consumer sentiment reading sent investors rushing from stocks.

Financial stocks led the market lower Friday, pulling major stock indexes down about 1 percent from 15-month highs. The Dow lost almost 101 points, its steepest drop since Dec. 31. Interest rates fell in the bond markets as investors bought Treasurys in search of safety.

JPMorgan, regarded as one of the strongest U.S. banks, warned investors it was too soon to say that losses on mortgages and other loans have peaked. The weakness in JPMorgan's consumer business hurt other financial stocks, which led the rest of the market lower.

Investors took little solace from a much stronger than expected profit report late Thursday from Intel Corp., the biggest maker of computer chips.

Commodity prices slumped as the dollar turned higher, and a disappointing report on consumer sentiment also weighed on the market. The preliminary Reuters/University of Michigan consumer sentiment index for January rose to 72.8 from 72.5 in late December but came in weaker than economists had forecast.

The news from JPMorgan brought concerns about profits at other big banks, many of which post results next week. Banks have been saying since the financial crisis exploded in the fall of 2008 that mortgages resetting at higher rates and job losses would push more loans into default. The latest comments gave investors a fresh reminder that the economy still needs more time to heal.

After a 10-month run in the market that has been all but unbroken, some investors think stocks are running low on gas. Light trading volume since November indicates there is little conviction behind the market's recent ascent. The Dow on Thursday closed above 10,700 for the first time since October 2008 and has climbed 62.1 percent since March, though it's still down 25.1 percent from its peak in October 2007.

The market will get additional signals about the economy next week as many more companies report earnings. U.S. markets are closed on Monday for Martin Luther King Jr. Day.

Adam Gould, senior portfolio manager at Direxion Funds in New York, said the reaction to JPMorgan's report signaled that investors had gotten too far ahead of themselves in predicting stellar earnings from companies.

"The market has been pricing in the best-case scenario for earnings for all of these companies," he said. "I think with an earnings report like this six months ago, we would've seen stocks rally."

The Dow fell 100.90, or 0.9 percent, to 10,609.65, the biggest drop since it lost 120 points on the final day of 2009. The broader Standard & Poor's 500 index fell 12.43, or 1.1 percent, to 1,136.03, and the Nasdaq composite index fell 28.75, or 1.2 percent, to 2,287.99.

Bond prices rose, pushing their yields lower. The yield on the benchmark 10-year Treasury note fell to 3.68 percent from 3.74 percent late Thursday.

The dollar rose against most major currencies. That hurt commodities, which are priced in dollars. A stronger greenback makes commodities like oil more expensive to foreign buyers.

Crude oil fell $1.39 to settle at $78 per barrel on the New York Mercantile Exchange. Gold fell.

The day's slide as investors await earnings next week from Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc., Morgan Stanley and Wells Fargo & Co.

Jim Herrick, director of equity trading at Baird & Co. in Milwaukee, said JPMorgan's report prompted selling because the bank is seen as stronger than other banks and because financial stocks have been the biggest drivers of the market's climb since March.

"The concern is that this is a harbinger of things to come as far as earnings," he said. "It's only smart to take chips off the table after the run we've had and sit on the sides and wait for earnings to come out."

After a strong start to the year, the market's advance slowed during week and the modest gains were eaten by Friday's slide. Caution about earnings from the final three months of 2009 grew after aluminum producer Alcoa Inc. posted disappointing results.

For the week, the Dow slipped 0.1 percent, the S&P 500 index fell 0.8 percent and the Nasdaq lost 1.3 percent.

Among banks, JPMorgan fell $1.01, or 2.3 percent, to $43.68. Morgan Stanley fell 82 cents, or 2.6 percent, to $30.38, while Citigroup fell 9 cents, or 2.6 percent, to $3.42.

Two stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 4.8 billion shares as options contracts expired on some stocks. Volume Thursday came to 3.9 billion shares.

The Russell 2000 index of smaller companies fell 8.47, or 1.3 percent, to 637.96.

Britain's FTSE 100 fell 0.8 percent, Germany's DAX index fell 1.9 percent, and France's CAC-40 lost 1.5 percent. Earlier, Japan's Nikkei stock average rose 0.7 percent.

The Dow Jones industrial average closed the week down 8.54, or 0.1 percent, at 10,609.65. The Standard & Poor's 500 index fell 8.95, or 0.8 percent, to 1,136.03. The Nasdaq composite index fell 29.18, or 1.3 percent, to 2,287.99.

The Russell 2000 index, which tracks the performance of small company stocks, fell 6.60, or 1 percent, for the week to 637.96.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,604.82, down 101.96, or 0.9 percent.
1085


----------



## bigdog

Source: http://finance.yahoo.com

*Wall Street was closed for the Martin Luther King public holiday *

European stock markets rose Monday as speculation of a pickup in corporate dealmaking kept investors interested on a day Wall Street was closed for the Martin Luther King public holiday and Greece's budgetary woes continued to weigh on the euro.

The FTSE 100 index of leading British shares closed up 39.02 points, or 0.7 percent, at 5,494.39, while Germany's DAX rose 42.58 points, or 0.7 percent, at 5,918.55. The CAC-40 in France ended 23.08 points, or 0.6 percent, higher at 3,977.46.

*The NYSE DOW closed for Martin Luther King public holiday *
Sym. Last......... ........Change.......... 
Dow 10,609.65 
Nasdaq 2,287.99  
S&P 500 1,136.03  
30-yr Bond 4.5750% 

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,494.39 +39.02 +0.72% 
DAX 5,918.55 +42.58 +0.72% 
CAC 40 3,977.46 +23.08 +0.58% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,855.08 -127.02 -1.16%  
Hang Seng 21,460.01 -194.15 -0.90%  
Straits Times 2,912.02 +3.60 +0.12%  

http://finance.yahoo.com/news/Europ...5.html?x=0&sec=topStories&pos=4&asset=&ccode=

*European stocks rise amid merger speculation

European stocks rise amid merger speculation despite Greek budget concerns; Wall Street closed*

 By Pan Pylas, AP Business Writer , On Monday January 18, 2010, 2:32 pm EST 

LONDON (AP) -- European stock markets rose Monday as speculation of a pickup in corporate dealmaking kept investors interested on a day Wall Street was closed for the Martin Luther King public holiday and Greece's budgetary woes continued to weigh on the euro.

The FTSE 100 index of leading British shares closed up 39.02 points, or 0.7 percent, at 5,494.39, while Germany's DAX rose 42.58 points, or 0.7 percent, at 5,918.55. The CAC-40 in France ended 23.08 points, or 0.6 percent, higher at 3,977.46.

A lot of the interest in Europe centered on Britain's International Power PLC and Gaz de France SA and whether weekend speculation that they were looking at some sort of tie-up would materialize.

However, International Power's statement that merger talks had ended saw a massive reverse in the company's fortunes and a share price that had been 8 percent higher in the day ended over 3 percent lower -- making it the biggest faller on the FTSE 100.

British candy maker Cadbury PLC also remained in the spotlight amid speculation that its suitor Kraft Foods Inc. was preparing to sweeten its offer before a Tuesday deadline. Cadbury ended around 1.5 percent higher but investors remain skeptical that the current stand-off between the two companies can be ended.

"Some traders seem to feel that this has dragged on long enough, making any sort of deal unlikely," said David Jones, chief market strategist at IG Index.

Even though talks between International Power and Gaz de France failed to yield anything, analysts said there are mounting expectations that the amount of mergers and acquisitions taking place will increase over the coming months as the global economy recovers from recession. One corollary of increased confidence is an increase in mergers and acquisitions.

When Wall Street returns on Tuesday, the focus will turn towards the next batch of fourth quarter corporate earnings -- so far, earnings have been fairly mixed, with upside surprises from the likes of Intel Corp. offset by disappointments elsewhere, most notably Alcoa Inc.

Banks will be in the spotlight especially after U.S. stocks fell 1 percent on Friday -- the Dow Jones industrial average suffered its worst day of the year so far -- as JP Morgan Chase & Co. offered a cautious earnings guidance even though it reported a fairly strong set of results.

"We get Citigroup tomorrow which has less of the good bits of banking and more of the bad bits," said Kit Juckes, chief economist at ECU Group.

A meeting of the 16 finance ministers of the countries that use the euro in Brussels later will be closely monitored in the currency markets as the main topic of debate will be the shaky state of Greece's public finances.

Concern about Greece's debts has been one of the reasons why the euro has floundered over the last month or so from 16-month highs above $1.50. Earlier it hit a ten-day low of $1.4336 before recovering slightly to $1.4380.

Greece's problems have fueled concerns that the country may eventually have to be bailed out by its partners in the eurozone. Some observers are even speculating about a possible Greek exit from the single currency zone.

"With rising concerns about the workability of the Greek government's stability and growth plan, the firm rejection from within the eurozone of the idea of a bailout, the rapidly rising cost of default insurance on Greek sovereign debt and concerns over deficits elsewhere in the region, the problems for the single currency are mounting rapidly," said Neil Mellor, a currency strategist at Bank of New York Mellon.

"Given that these come at a time when the euro is trading significantly above its long term averages against a wide range of currencies -- 23 percent against the dollar -- after years of being used as the prime vehicle for reserve diversification, there is plenty of space for it to fall," he added.

Earlier in Asia, Japan's Nikkei 225 stock average ended 127.02 points, or 1.2 percent, lower at 10,855.08 while Hong Kong's Hang Seng fell 194.15 points, or 0.9 percent, to 21,460.01. Markets in Singapore and Taiwan also lost ground.

Other markets fared better, with South Korea's Kospi gaining 0.6 percent to 1,711.78 and Australia's stock measure adding 0.2 percent and Shanghai's index rising 0.4 percent.

Oil prices rose modestly, with benchmark crude for February delivery up 40 cents at $78.40. On Friday, the contract slid $1.39 to settle at $78. The price was down $4.75 for the week after declining for five straight days.


----------



## bigdog

Source: http://finance.yahoo.com

There weren't many truly positive catalysts this session, but participants showed support for stocks as they stepped in to buy the many names that were sent lower in the previous session. Their efforts drove stocks to a fresh 52-week closing high. 

Stocks started the session in mixed fashion, but a steady stream of buyers helped stocks fully recover from their 1.1% loss this past Friday. Though technical resistance at 52-week intraday highs contained the move, the advance remained broad based and strong into the close. 

Investors moved back into stocks on hopes that an election in Massachusetts will weaken Senate Democrats and make it harder for President Barack Obama to make changes to health care.

The vote Tuesday to fill the seat of late Sen. Edward M. Kennedy could shift power in the Senate if Republican Scott Brown wins. That would give Republicans the 41 votes necessary to block Democratic proposals, including the health care bill.

The prospect of a logjam in Washington over health care eased concerns that profits at companies like insurers and drug makers would suffer. Rising health stocks pulled the broader market higher.

*The NYSE DOW closed HIGHER +115.78  +1.09%  on Tuesday January 19*
Sym. Last......... ........Change.......... 
Dow 10,725.43 +115.78 +1.09% 
Nasdaq 2,320.40 +32.41 +1.42% 
S&P 500 1,150.23 +14.20 +1.25% 
30-yr Bond 4.5980% +0.2300 

NYSE Volume 5,164,258,500  (prior day 5,459,121,500)
Nasdaq Volume 2,078,695,250   (prior day 2,685,826,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,513.14 +18.75 +0.34% 
DAX 5,976.48 +57.93 +0.98% 
CAC 40 4,009.67 +32.21 +0.81% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,764.90 -90.18 -0.83%  
Hang Seng 21,677.98 +217.97 +1.02%  
Straits Times 2,912.92 +0.90 +0.03% 

http://finance.yahoo.com/news/Healt...0.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Health stocks pull market higher as Mass. votes

Health stocks lift market on hopes Massachusetts vote will weaken Democrats' power in Senate*

By Tim Paradis and Ieva M. Augstums, AP Business Writers , On Tuesday January 19, 2010, 4:36 pm 

NEW YORK (AP) -- Investors moved back into stocks on hopes that an election in Massachusetts will weaken Senate Democrats and make it harder for President Barack Obama to make changes to health care.

The vote Tuesday to fill the seat of late Sen. Edward M. Kennedy could shift power in the Senate if Republican Scott Brown wins. That would give Republicans the 41 votes necessary to block Democratic proposals, including the health care bill.

The prospect of a logjam in Washington over health care eased concerns that profits at companies like insurers and drug makers would suffer. Rising health stocks pulled the broader market higher.

The Dow Jones industrial average rose 116 points to a 15-month high after sliding 101 on Friday. Broader indexes also rose and demand for the safety of government debt waned.

Meanwhile, Kraft Foods Inc.'s agreement to acquire Cadbury PLC for $19.5 billion boosted hopes that corporate dealmaking will continue to rebound. Investors see buyouts as a sign of confidence in the economy.

Technology stocks got a boost after a Credit Suisse analyst raised his rating on Ciena Corp., a maker of telecommunications equipment, predicting that revenue would exceed expectations.

Shares of tech companies will draw more attention Wednesday after IBM Corp. reported a 9 percent increase in earnings for the final three months of 2009. The company said after the closing bell Tuesday that its revenue rose for the first time in a year and a half. IBM also predicted that its 2010 earnings will come in at the high end of its previous forecast.

Tuesday's gains came after stocks fell Friday when JPMorgan Chase & Co.'s quarterly results fell short of expectations. U.S. markets were closed Monday for Martin Luther King Jr. Day.

Analysts said that beyond a possible shift in plans for health care, the week's earnings reports will help chart the market's course in the coming months as companies update their expectations for the economy.

The stock market has been climbing for 10 months on hopes that an easing recession would boost corporate profits. But lingering problems like high unemployment and a weak housing market have raised questions about whether the jump in stocks is premature.

"This is just a critical period when we get to see the litmus test of earnings and then guidance," said Philip S. Dow, managing director of equity strategy at RBC Wealth Management in Minneapolis.

According to preliminary calculations, the Dow rose 115.78, or 1.1 percent, to 10,725.43. The broader Standard & Poor's 500 index rose 14.20, or 1.3 percent, to 1,150.23. It was the highest close for the Dow and the S&P 500 index since Oct. 1, 2008.

The Nasdaq composite index rose 32.41, or 1.4 percent, to 2,320.40.

Brett Hryb, a portfolio manager with MFC Global Investment Management in Toronto, said a defeat of the health bill could help some companies but that a win by Brown would not necessarily make that certain.

"It's not a slam dunk by any means," he said.

Among health stocks, insurers Aetna Inc. rose $1.30, or 4.2 percent, to $32.66 and UnitedHealth Group Inc. rose $1.38, or 4.1 percent, to $35.13. Pharmaceutical company Pfizer Inc. advanced 51 cents, or 2.6 percent, to $20.

Shares of Cadbury rose $3.19, or 6.2 percent, to $55.09. Kraft slipped 17 cents, or 0.6 percent, to $29.41.

Ciena jumped $1.28, or 11 percent, to $12.91.

Citigroup Inc. rose 12 cents, or 3.5 percent, to $3.54 after reporting a fourth-quarter loss of $7.6 billion mostly tied to repayment of $20 billion in government bailout money. The company said it is starting to see some stabilizing in the number of mortgage and credit card loans that are past due.

Earnings reports are due this week from Bank of America Corp., eBay Inc., General Electric Co., Goldman Sachs Group Inc., Google Inc., Morgan Stanley and Wells Fargo & Co.

Analysts said investors are hunting for clues about whether the market will continue its run in 2010 or begin to sputter if the economy doesn't show more signs it is strengthening.

"Everybody is looking for that catalyst that is going to take us higher," said Anthony Conroy, managing director and head trader for BNY ConvergEx Group. He contends that the market will find strength from companies that surprise investors by reporting stronger profits.

But Hryb said the run in stocks since March has left stocks with rich valuations and that even with big earnings stocks could be getting pricey.

"It is a tug-of-war between the growth in the earnings and what people are willing to pay for those earnings," Hryb said.

Bond prices fell, pushing their yields higher. The yield on the benchmark 10-year Treasury note rose to 3.71 percent from 3.68 percent late Friday.

The dollar mostly rose against other major currencies. Gold advanced, while crude oil rose $1.02 to settle at $79.02 per barrel on the New York Mercantile Exchange.

Three stocks rose for every one that fell at the New York Stock Exchange, where volume fell to 1 billion shares from 1.4 billion Friday.

The Russell 2000 index of smaller companies rose 11.19, or 1.8 percent, to 649.15.

Britain's FTSE 100 added 0.3 percent, Germany's DAX index rose 1 percent, and France's CAC-40 gained 0.8 percent. Japan's Nikkei stock average fell 0.8 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Disregard for a large batch of better-than-expected earnings reports gave way to a stiff bout of selling pressure that put stocks on track for their worst loss in more than two months. However, financials were able to garner support into the close and help the broader market trim its losses. 

Stocks set fractionally improved 52-week highs in the previous session, but momentum failed to carry over as global participants reacted negatively to news that China's authorities reportedly ordered some banks to curb lending in a move suggestive of tighter monetary policy. The order precedes the release of China's fourth quarter GDP numbers, so many have inferred that the report will feature a strong upside reading. 

The stock market posted its biggest drop in a month on concerns that tighter lending in China could endanger an economic recovery. Disappointing earnings from IBM and Morgan Stanley added to investors' angst.

At the same time, a spike in the dollar pushed commodity prices sharply lower Wednesday, hurting stocks of energy companies and materials producers.

The Dow Jones industrial average fell 122 points from a 15-month high but ended well off its lows for the day. Demand for safe havens like government debt rose, pushing yields lower in the Treasury market.

*The NYSE DOW closed LOWER -122.28 -1.14% on Wednesday January 20*
Sym. Last......... ........Change.......... 
Dow 10,603.15 -122.28 -1.14% 
Nasdaq 2,291.25 -29.15 -1.26% 
S&P 500 1,138.04 -12.19 -1.06% 
30-yr Bond 4.5430% -0.5500 

NYSE Volume 5,453,405,000  (prior day 5,164,258,500)
Nasdaq Volume 2,395,161,750 (prior day  2,078,695,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,420.80 -92.34 -1.67% 
DAX 5,851.53 -124.95 -2.09% 
CAC 40 3,928.95 -80.72 -2.01% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,737.52 -27.38 -0.25%  
Hang Seng 21,286.17 -391.81 -1.81%  
Straits Times 2,893.13 -19.79 -0.68% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=3&asset=&ccode=
Stocks fall as China clamps down on bank lending
Stock fall on concerns tighter lending in China will hurt growth; Banks are mixed on results

By Stephen Bernard and Tim Paradis, AP Business Writers , On Wednesday January 20, 2010, 4:51 pm EST 

NEW YORK (AP) -- The stock market posted its biggest drop in a month on concerns that tighter lending in China could endanger an economic recovery. Disappointing earnings from IBM and Morgan Stanley added to investors' angst.

At the same time, a spike in the dollar pushed commodity prices sharply lower Wednesday, hurting stocks of energy companies and materials producers.

The Dow Jones industrial average fell 122 points from a 15-month high but ended well off its lows for the day. Demand for safe havens like government debt rose, pushing yields lower in the Treasury market.

Stocks have posted sharp swings since last week as investors try to determine the overall direction of the market. The Dow fell 101 points Friday and jumped 116 Tuesday.

The latest slide came as concern grew that China's efforts to cool its rapid growth could hurt a global recovery. A top banking regulator said Wednesday that China will increase monitoring of banks as it tries to prevent speculative bubbles in areas like real estate. Last week China took steps to restrict runaway lending.

Investors are also questioning whether a 68.2 percent gain in the benchmark Standard & Poor's 500 index in the past 10 months has been too much. Those doubts are intensifying as more companies report results from the final three months of 2009 this week. The early read is that cost-cutting has again helped boost profits, but revenues remain disappointingly weak.

IBM Corp. led the Dow lower. The company reported late Tuesday that its earnings rose 9 percent from a year earlier, while sales rose less than 1 percent. The company's forecast was seen as cautious.

"We might see profitability out of companies this season but we're not really seeing revenue growth," said Dan Cook, senior market analyst at IG Markets in Chicago.

Banks posted mixed results. Bank of America Corp. reported better results and said credit conditions were improving, but also said the economic environment is "fragile." Wells Fargo & Co. sounded an optimistic note on consumer resilience, but Morgan Stanley fell short of expectations.

According to preliminary calculations, the Dow fell 122.28, or 1.1 percent, to 10,603.15. The Dow had been down as much as 208 points.

The broader S&P 500 index fell 12.19, or 1.1 percent, to 1,138.04, and the Nasdaq composite index fell 29.15, or 1.3 percent, to 2,291.25.

Stocks fell Friday following an increase in bad loans at JPMorgan Chase & Co. Then, after a long holiday weekend, the market rose Tuesday led by a gain in health care stocks on hopes that the Democrats' loss of their filibuster-proof majority in the Senate because of a special election in Massachusetts would slow down reforms that might hurt the profits of health companies.

Cook said questions about the stability of the market are likely to increase as Feb. 1 approaches. That is when the Federal Reserve plans to halt most of the emergency lending programs it set up to help revive the economy. Traders looking to deploy some of the low-cost money circulating through the financial system have helped drive the surge since March.

"Once that cheap cash goes away, what's left?" Cook said. He predicts a "sizable correction" to let the economy catch up with the market.

Bond prices rose, driving their yields lower. The yield on the benchmark 10-year Treasury note fell to 3.66 percent from 3.70 percent late Tuesday.

The dollar rose, reaching a five-month high against the euro as concern grew about heavy debt loads in Greece.

Gold fell. The gain in the dollar pushed commodity prices lower because a stronger greenback makes them more expensive for foreign buyers. Crude oil fell $1.40 to $77.62 per barrel on the New York Mercantile Exchange.

Traders have been hoping to see greater reassurances from companies that the economy is strengthening. So far the earnings results have been mixed.

"We're going to be in the dance of one step forward and one step back as people digest all these earnings reports," said Frank Ingarra, co-portfolio manager at Hennessy Funds.

IBM fell $3.89, or 2.9 percent, to $130.25 after its report.

Bank of America said it lost $5.2 billion in the fourth quarter, mostly from costs related to repaying $45 billion in government bailout money. The stock rose 17 cents to $16.49.

Despite improving bottom lines at Bank of America and Wells Fargo, many investors remain pessimistic about bank shares. JPMorgan Chase & Co. and Citigroup Inc. have both said in recent days that they remain cautious about the economy and aren't sure when loan losses will start to shrink.

Wells Fargo fell 46 cents to $27.82, while Morgan Stanley fell 53 cents to $30.63.

Brinker International, the owner of Chili's Grill & Bar, jumped $1.95, or 12.7 percent, to $17.26 after its results for the latest quarter topped expectations.

The Russell 2000 index of smaller companies fell 9.54, or 1.5 percent, to 639.61.

Three stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.1 billion shares compared with 1 billion Tuesday.

Overseas, Britain's FTSE 100 fell 1.7 percent, Germany's DAX index dropped 2.1 percent, and France's CAC-40 fell 2 percent. China's main Shanghai composite index dropped 2.9 percent, while Japan's Nikkei stock average fell 0.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Threats of tighter monetary policy in China and increased bank regulation combined with a sell-the-news mentality to drop the stock market for its worst single-session percentage loss in nearly 12 weeks. 

Stocks had already tumbled significantly in the previous session, but sellers were back at it after China reported stronger-than-expected fourth quarter GDP growth and a sharper-than-expected spike in inflation, which renewed concern that tighter monetary policy may be in the offing. Tighter policy in China would presumably crimp the country's growth and slow the global economic rebound. 

The stock market stumbled Thursday as President Barack Obama proposed an overhaul of the nation's banking system that could limit financial companies' ability to make huge profits on trading.

The Dow Jones industrial average skidded 213 points after dropping 122 on Wednesday, giving the Dow its biggest two-day point drop since late March. The index has seen four straight triple-digit moves and the latest slide erased the Dow's gains for 2010. Bond prices rose as the stock market became more volatile.

Obama said he would seek to limit the size and complexity of large financial companies so that a bank's collapse wouldn't endanger the overall financial system. Tightening the rules on risk-taking and trading at banks could hurt profits at those companies.

*The NYSE DOW closed LOWER -213.27  -2.01% on Thursday January 21*
Sym. Last......... ........Change.......... 
Dow 10,389.88 -213.27 -2.01% 
Nasdaq 2,265.70 -25.55 -1.12% 
S&P 500 1,116.48 -21.56 -1.89% 
30-yr Bond 4.5060% -0.3700 

NYSE Volume 7,914,482,500  (prior day 5,453,405,000)
Nasdaq Volume 2,915,450,250 (prior day  2,395,161,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,335.10 -85.70 -1.58% 
DAX 5,746.97 -104.56 -1.79% 
CAC 40 3,862.16 -66.79 -1.70% 


*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,868.41 +130.89 +1.22%  
Hang Seng 20,862.67 -423.50 -1.99%  
Straits Times 2,850.98 -42.15 -1.46% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks slide as Obama calls for tougher bank rules

Stocks fall for 2nd day as Obama calls for tighter restrictions on big banks; Dow falls 213*

 By Stephen Bernard and Tim Paradis, AP Business Writers , On Thursday January 21, 2010, 4:54 pm 

NEW YORK (AP) -- The stock market stumbled Thursday as President Barack Obama proposed an overhaul of the nation's banking system that could limit financial companies' ability to make huge profits on trading.

The Dow Jones industrial average skidded 213 points after dropping 122 on Wednesday, giving the Dow its biggest two-day point drop since late March. The index has seen four straight triple-digit moves and the latest slide erased the Dow's gains for 2010. Bond prices rose as the stock market became more volatile.

Obama said he would seek to limit the size and complexity of large financial companies so that a bank's collapse wouldn't endanger the overall financial system. Tightening the rules on risk-taking and trading at banks could hurt profits at those companies.

The move could mean changes for how big financial institutions like Bank of America, Citigroup Inc. and JPMorgan Chase & Co. are structured. Each of the stocks fell more than 4 percent.

Weakness in manufacturing also brought concern that the economy might not be recovering as quickly as hoped. The Philadelphia Federal Reserve said manufacturing in its region fell in January from December. Its index of regional manufacturing conditions fell to 15.2 from a revised 22.5 last month.

Another test for the market could come Friday. Google Inc. posted a five-fold jump in its fourth-quarter profit after the closing bell on double-digit revenue growth, but the results fell short of expectations. The stock fell $30.13, or 5.2 percent, to $552.85 in after-hours electronic trading after edging up 0.4 percent in regular trading.

Patrick Galley, chief investment officer at RiverNorth Capital in Chicago, said stocks have risen so fast in the past 10 months that expectations about an economic recovery are getting too high.

"The market can be quite fickle just because of the huge run-up that we've had," he said. "A lot of folks have their trigger finger on the sell button if they start to sense that news won't meet expectations."

According to preliminary calculations, the Dow fell 213.27, or 2 percent, to 10,389.88, its biggest point and percentage drop since Oct. 30. The index is down 335.55 points, or 3.1 percent, in two days. That was the biggest point drop since the two days ended March 30 and the biggest percentage loss since June 16.

The index hasn't closed with triple digit moves in four straight trading days since May 6-11.

The broader Standard & Poor's 500 index fell 21.56, or 1.9 percent, to 1,116.48. The Nasdaq composite index fell 25.55, or 1.1 percent, to 2,265.70.

Stocks dropped Wednesday after China said it would curb bank lending to slow its economy. The latest sign of China's supercharged growth came on Thursday as the country reported 10.7 percent economic expansion in the fourth quarter and 8.7 percent for all of last year. The numbers reinforced concerns that China will take more steps to tighten monetary policy and rein in its economy, which could hamper a global economic rebound.

The questions about how profits will hold up at banks drove up expectations that trading will become more volatile. The Chicago Board Options Exchange's Volatility Index jumped 19.2 percent. A rise in the VIX, which is known as the market's fear index, signals that investors expect bigger swings in stocks.

Shares of Bank of America fell $1.02, or 6.2 percent, to $15.47, while Citigroup slid 19 cents, or 5.5 percent, to $3.27. JPMorgan fell $2.86, or 6.6 percent, to $40.54.

Concern about the U.S. economy grew Thursday after an unexpected jump in unemployment claims. The Labor Department said workers filing for unemployment benefits for the first time rose by 36,000 to 482,000 last week. Economists polled by Thomson Reuters were expecting a small drop. The four-week average rose for the first time since August.

The report provided a grim reminder that while the economy might be improving, a robust recovery is unlikely until companies start adding jobs. The unemployment rate remained at 10 percent last month.

Bond prices rose as the stock market fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.60 percent from 3.65 percent late Wednesday.

The dollar rose against other major currencies, while gold fell. A rise in the dollar hurt commodity prices, which become more expensive for foreign buyers when the dollar strengthens.

Crude oil fell $1.66 to $76.08 per barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies fell 11.25, or 1.8 percent, to 628.36.

Four stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.5 billion shares compared with 1.1 billion Wednesday.

Britain's FTSE 100 fell 1.6 percent, Germany's DAX index lost 1.8 percent, and France's CAC-40 fell 1.7 percent. Japan's Nikkei stock average rose 1.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week down 436.67, or 4.1 percent, at 10,172.98. The Standard & Poor's 500 index fell 44.27, or 3.9 percent, to 1,091.76. The Nasdaq composite index fell 82.70, or 3.6 percent, to 2,205.29.

Not only did Friday mark the stock market's third straight loss, but it also marked its worst single-session percentage drop in more than two months. The recent string of losses has been underscored by a sell-the-news mentality among investors. 

The stock market suffered its worst setback in more than 10 months this week as investors decided no matter what the news, it must be bad.

The Dow Jones industrial average slid 216 points, or 2.1 percent, on Friday its fourth big drop in five trading days. Wednesday-Friday, the Dow lost 552 points, or 5.2 percent. All the major indexes fell more than 2 percent Friday.

Investors continued to worry about President Barack Obama's plan to restrict big banks. They decided that good earnings reports weren't good enough. They didn't like mounting opposition to the reappointment of Federal Reserve Chairman Ben Bernanke. And they were still uneasy that a possible economic slowdown in China might spread.

*The NYSE DOW closed LOWER -216.90  -2.09% on Friday January 22*
Sym. Last......... ........Change.......... 
Dow 10,172.98 -216.90 -2.09% 
Nasdaq 2,205.29 -60.41 -2.67% 
S&P 500 1,091.76 -24.72 -2.21% 
30-yr Bond 4.5100% +0.0400 

NYSE Volume 7,310,355,500  (prior day 7,914,482,500)
Nasdaq Volume 2,844,347,500  (prior day 2,915,450,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,302.99 -32.11 -0.60% 
DAX 5,695.32 -51.65 -0.90% 
CAC 40 3,820.78 -41.38 -1.07% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,590.55 -277.86 -2.56% 
Hang Seng 20,726.18 -136.49 -0.65% 
Straits Times 2,819.71 -31.27 -1.10% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks sink again on Obama's pushback on banks

Stocks retreat for a 3rd day as investors fret over Obama's financial overhaul plan*

 By Stephen Bernard and Tim Paradis, AP Business Writers , On Friday January 22, 2010, 7:06 pm EST 

NEW YORK (AP) -- The stock market suffered its worst setback in more than 10 months this week as investors decided no matter what the news, it must be bad.

The Dow Jones industrial average slid 216 points, or 2.1 percent, on Friday its fourth big drop in five trading days. Wednesday-Friday, the Dow lost 552 points, or 5.2 percent. All the major indexes fell more than 2 percent Friday.

Investors continued to worry about President Barack Obama's plan to restrict big banks. They decided that good earnings reports weren't good enough. They didn't like mounting opposition to the reappointment of Federal Reserve Chairman Ben Bernanke. And they were still uneasy that a possible economic slowdown in China might spread.

Stocks have had their worst showing since they began their recovery last March. The market also is seeing the the kind of volatility that dominated the market's long slide -- the Dow has had a triple-digit move five straight days for the first time since December 2008.

The Dow lost 4.1 percent this week, its worst week since it hit a 12-year low in early March. It had reached its highest level since Oct. 1, 2008, only this past Tuesday, closing at 10,725.43. On Friday, it closed at 10,172.98.

John Brady, a senior vice president of global interest rates at MF Global, said concerns surrounding Obama's plan and China's efforts to slow its economy have investors reducing risk.

Obama rattled the market Thursday after asking Congress for limits on how large big banks can be and to end some of the risky trading large financial companies have used in recent quarters to boost their profits. It's not clear what will come of the proposed changes but investors are selling anyway.

"It appears to be a move to put some shackles on risk-takers," Mitch Schlesinger, managing partner at FBB Capital Partners in Bethesda, Md., said of the new proposals.

The problem with earnings reports is that they're not meeting investors' high expectations. Tech stocks were among the big losers Friday after Google Inc.'s fourth-quarter revenue didn't meet forecasts, and after a Citigroup analyst lowered his rating on the stocks of seven chip makers.

The market is particularly sensitive to tech companies, since they are seen as indicators that the economy is returning to health -- or possibly backsliding. But any part of any company's earnings report has the potential to upset the market.

"We expect (earnings) to be better," said Brett D'Arcy, chief investment officer at CBIZ Wealth Management Group in San Diego. "People are being more particular."

In some respects, stocks' big plunge isn't a surprise. Many analysts have been predicting a correction, which technically is a drop of 10 percent from a recent market high, since before the start of the year. They have warned that investors were expecting too much from companies this early in an economic recovery. They warned that there was no way that the market could sustain the rally that lifted the Standard & Poor's 500 index 65 percent from its March 9 lows.

The Dow fell 216.90, or 2.1 percent, to 10,172.98. The Dow's three-day loss was its worst since March.

The Standard & Poor's 500 index fell 24.72, or 2.2 percent, to 1,091.76. The index is down 5.1 percent in three days, its worst drop since March 2009.

Friday's drops were the worst for the Dow and the S&P 500 index since Oct. 30.

The Nasdaq composite index fell 60.41, or 2.7 percent, to 2,205.29, reflecting a pullback in technology stocks in response to Google's earnings, and also an analysts' downgrade of chip makers.

For the week, the Dow lost 4.1 percent, the S&P 500 index slid 3.9 percent, and the Nasdaq lost 3.6 percent.

There is more uncertainty for the markets next week, and not just because more earnings reports will arrive. The Fed holds its first meeting on interest rates of 2010. No one expects the central bank to boost rates but investors will be looking for the Fed's take on the economy.

Bernanke, whose term ends Jan. 31, is still waiting for the Senate to confirm his reappointment to another term. But a growing number of senators are blaming the Fed chairman for the nation's economic problems.

There are signs the big moves in the market will continue. The Chicago Board Options Exchange's Volatility Index jumped 52.5 percent for the week. An increase in the VIX, which is known as the market's fear gauge, is a sign that investors predict more gyrations in stocks. The VIX closed Friday at 27.31, above its historical average of 18-20 but well below the 89.5 it peaked at in October 28, during some of the worst selling of the financial crisis.

Tech stocks suffered in particular Friday. Google dropped $32.97, or 5.7 percent, to $550.01, while chip maker Advanced Micro Devices Inc. fell $1.11, or 12.4 percent, to $7.88.

The mood in the market was dark enough that upbeat earnings Friday from General Electric Co. and McDonald's Corp. weren't enough to sway investors

GE reported a better-than-expected profit and said orders and backlogs for its products and services are increasing. Its shares rose 9 cents to $16.11. McDonald's earnings showed that it was holding up better than its competitors as consumers cut back their spending. The stock rose 19 cents to $63.39.

Five stocks fell for every one that rose on the New York Stock Exchange. Consolidated volume came to 6.3 billion shares compared with 6.95 billion Thursday.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was flat at 3.59 percent from late Thursday.

The dollar was mixed against other major currencies, while gold fell.

Crude oil fell $1.54 to settle at $74.54 per barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies fell 11.24, or 1.8 percent, to 617.12.

Overseas, Britain's FTSE 100 fell 0.6 percent, Germany's DAX index lost 0.9 percent, and France's CAC-40 dropped 1.1 percent. Japan's Nikkei stock average fell 2.6 percent.

The Dow Jones industrial average closed the week down 436.67, or 4.1 percent, at 10,172.98. The Standard & Poor's 500 index fell 44.27, or 3.9 percent, to 1,091.76. The Nasdaq composite index fell 82.70, or 3.6 percent, to 2,205.29.

The Russell 2000 index, which tracks the performance of small company stocks, fell 20.84, or 3.3 percent, for the week to 617.12.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,182.41, down 422.41, or 3.6 percent.
1623


----------



## bigdog

Source: http://finance.yahoo.com

Late pressure left stocks to finish the session on a rather weak note, but the major indices were still able to settle in positive territory. 

Gains were varied for the entire session as choppy trade made it difficult for stocks to put together any sort of sustainable relief rally in the wake of the stock market's three consecutive slides. Disappointing December existing home sales numbers didn't help either. 

The major stock indexes rose Monday, as momentum shifted in favor of the reappointment of Federal Reserve Chairman Ben Bernanke.

Investors want a sign that Bernanke will remain in control of the Fed because that would make a big shift in interest rate policy far less likely.

Democratic Sens. Max Baucus of Montana, chairman of the Senate Finance Committee, and Dianne Feinstein of California said Monday they would support his appointment. Presidential adviser David Axelrod said Bernanke has enough votes to be confirmed. Last week, several Senators expressed doubt about Bernanke's reappointment, which had seemed assured.

*The NYSE DOW closed HIGHER +23.88 points +0.23% on Monday January 25*
Sym. Last......... ........Change.......... 
Dow 10,196.86 +23.88 +0.23% 
Nasdaq 2,210.80 +5.51 +0.25% 
S&P 500 1,096.78 +5.02 +0.46% 
30-yr Bond 4.55% +0.43 

NYSE Volume 5,164,770,000  (prior day 7,310,355,500)
Nasdaq Volume 2,186,417,000  (prior day 2,844,347,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,260.31 -74.79 -1.40% 
DAX 5,631.37 -63.95 -1.12% 
CAC 40 3,781.85 -38.93 -1.02% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,512.69 -77.86 -0.74%  
Hang Seng 20,598.55 -127.63 -0.62%  
Straits Times 2,811.71 -8.00 -0.28% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks turn higher as Bernanke's prospects improve

Stocks stabilize as hopes improve for Bernanke's reappointment, break worst slide since March*

By Stephen Bernard and Tim Paradis, AP Business Writers , On Monday January 25, 2010, 4:56 pm 

NEW YORK (AP) -- The major stock indexes rose Monday, as momentum shifted in favor of the reappointment of Federal Reserve Chairman Ben Bernanke.

Investors want a sign that Bernanke will remain in control of the Fed because that would make a big shift in interest rate policy far less likely.

Democratic Sens. Max Baucus of Montana, chairman of the Senate Finance Committee, and Dianne Feinstein of California said Monday they would support his appointment. Presidential adviser David Axelrod said Bernanke has enough votes to be confirmed. Last week, several Senators expressed doubt about Bernanke's reappointment, which had seemed assured.

The Dow Jones industrial average rose 24 points after losing 552 points over the previous three days. The Dow skidded from Wednesday to Friday of last week as President Barack Obama stepped up his campaign to tighten oversight of banks. Signs last week that Bernanke's appointment could be in trouble contributed to the big drop.

Bernanke's term expires on Sunday, and the Senate is expected to vote on his reappointment this week.

Bernanke was a key player in guiding the nation through the worst financial crisis since the 1930s, and has pledged to keep interest rates low to stimulate the economy. That has helped boost the stock and bond markets while also providing a steady supply of cheap funding to banks.

Many traders don't want to see a change because that would bring another set of unknowns for a market already burdened by uncertainty about the economy.

Technology shares could get a boost Tuesday from Apple Inc., which said after the closing bell that its profit jumped nearly 50 percent for the final three months of 2009 as it sold more Mac computers. Trading in the stock was halted after hours.

Russell Croft, portfolio manager at Croft Leominster Investment Management in Baltimore, said questions about what will happen with Bernanke as well as bank regulation and possible changes to health care have brought concerns that Washington will spoil a recovery.

"Anytime you get the political haranguing going on -- worries about the Fed chief or whatever -- it's obviously going to spook the markets," Croft said.

According to preliminary calculations, the Dow rose 23.88, or 0.2 percent, to 10,196.86 after being up as much as 84 points. The fluctuations were modest, however, after a five straight days in which the Dow moved by more than 100 points.

The Standard & Poor's 500 index rose 5.02, or 0.5 percent, to 1,096.78, while the Nasdaq composite index rose 5.51, or 0.3 percent, to 2,210.80.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.64 percent from 3.61 percent late Friday.

The questions about Bernanke's reappointment came as Fed policymakers are set to gather for the first meeting of the year on interest-rate policy. The two-day meeting starts Tuesday. The Fed is expected to hold rates at record lows, so investors will be examining the accompanying statement from the Fed for clues about when the central bank might begin to raise rates.

Investors will get a rush of earnings and economic reports during the week to help determine how the economy is faring.

Most earnings have topped analysts' expectations, but unlike in recent quarters, that has not helped send stocks higher. Traders are paying more attention to specifics within earnings reports, such as revenue growth, and forecasts rather than seizing on a better-than-expected profit as a reason to buy shares.

Dozens of companies will report earnings throughout the week, including Amazon Inc., AT&T Inc. and Johnson & Johnson. Apple rose $5.32, or 2.7 percent, to 203.07 and trading was halted after hours.

The dollar was mixed against other major currencies, while gold rose.

Crude oil rose 72 cents to $75.26 per barrel on the New York Mercantile Exchange.

Three stocks rose for every two that fell on the New York Stock Exchange, where volume came to 1.1 billion shares, compared with 1.5 billion Friday.

The Russell 2000 index of smaller companies rose 0.99, or 0.2 percent, to 618.11.

Stocks slid overseas, with shares falling in Asia on concerns about banks. The Bank of China said it plans to raise billions of dollars to replenish capital and meet new government requirements.

Britain's FTSE 100 fell 0.8 percent, Germany's DAX index fell 1.1 percent and France's CAC-40 lost 1 percent. Japan's Nikkei stock average fell 0.7 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks were able to overcome a weak start, but their advance ran into resistance and rolled over late in the session. However, the slide was stopped short as support was secured at the lows set last week. 

Premarket selling pressure made for a lower start to the session as participants showed a moderately negative reaction to steep losses in Asia, where China's regulators followed through with plans to raise reserve requirements at select banks and Japan's sovereign debt was put on a negative outlook from Standard & Poor's. A subsequent flight to quality boosted the buck, which didn't help the early tone of trade either. 

Stocks gave up a healthy advance and closed slightly lower Tuesday as investors suffered another bout of anxiety over President Barack Obama's plan to regulate banks.

The Dow Jones industrial average, up 90 points in the early afternoon, closed with a loss of 2.57. The other major indexes were also down modestly.

Uneasiness about Obama's plan to limit the size and trading operations of big banks pulled financial stocks and then the entire market lower. News reports that Paul Volcker, the head of the President's Economic Recovery Advisory Board, would testify about the plan before Congress next week, contributed to the market's turnaround.

*The NYSE DOW closed LOWER -2.57 points -0.03% on Tuesday January 26*
Sym. Last......... ........Change.......... 
Dow 10,194.29 -2.57 -0.03% 
Nasdaq 2,203.73 -7.07 -0.32% 
S&P 500 1,092.17 -4.61 -0.42% 
30-yr Bond 4.5660% +0.1300 

NYSE Volume 5,469,008,500  (prior day 5,164,770,000)
Nasdaq Volume 2,406,852,250 (prior day 2,186,417,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,276.85 +16.54 +0.31% 
DAX 5,668.93 +37.56 +0.67% 
CAC 40 3,807.04 +25.19 +0.67% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,325.28 -187.41 -1.78%  
Hang Seng 20,109.33 -489.22 -2.38%  
Straits Times 2,740.33 -71.38 -2.54% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks give up advance as financial stocks slide

Stocks erase gains as anxiety over Obama bank plan gives market its 5th drop in 7 days*
By Tim Paradis, AP Business Writers , On Tuesday January 26, 2010, 5:23 pm 

NEW YORK (AP) -- Stocks gave up a healthy advance and closed slightly lower Tuesday as investors suffered another bout of anxiety over President Barack Obama's plan to regulate banks.

The Dow Jones industrial average, up 90 points in the early afternoon, closed with a loss of 2.57. The other major indexes were also down modestly.

Uneasiness about Obama's plan to limit the size and trading operations of big banks pulled financial stocks and then the entire market lower. News reports that Paul Volcker, the head of the President's Economic Recovery Advisory Board, would testify about the plan before Congress next week, contributed to the market's turnaround.

The drop was the market's fifth in seven days, and the fact that it came shortly before the closing bell showed how uneasy investors are; last-hour pullbacks were the hallmark of a troubled market during the financial crisis of 2008.

Obama's announcement of his plan last week helped give the market its worst week in 10 months. Traders said some investors had started to regard the proposals as political bluster before the latest reports dashed those hopes.

"There is maybe more than just a bark. Maybe this thing does have a bite," said Dan Deming, a trader with Stutland Equities in Chicago.

Even banks seen as strong like JPMorgan Chase & Co. and Goldman Sachs Group Inc. fell sharply.

The market had climbed most of the day on upbeat economic and corporate earnings news. The Conference Board said its index of consumer confidence rose to 55.9 in January from 53.6 in December. It was the third straight increase and the highest level in more than a year.

And insurer Travelers Cos. said an absence of catastrophe costs and a recovery in its investment portfolios lifted profits 60 percent for the final three months of 2009.

The Dow fell 2.57, or less than 0.1 percent, to 10,194.29. The Standard & Poor's 500 index slid 4.61, or 0.4 percent, to 1,092.17. The Nasdaq composite index dropped 7.07, or 0.3 percent, to 2,203.73.

Two stocks fell for every one that rose on the New York Stock Exchange. Volume was 1.1 billion shares, in line with Monday.

The day began with a bout of selling as China moved ahead with a plan to curb bank lending. Investors in the U.S. and elsewhere are concerned a slowdown in China's big economy could destabilize a worldwide recovery.

The drop Tuesday came as Federal Reserve policymakers began a two-day meeting on interest rate policy. The central bank is expected to keep rates at record lows, though investors will be looking at the Fed's assessment of the economy in a statement that will follow the meeting on Wednesday.

Investors on Wednesday also will be awaiting Obama's first State of the Union address.

Stocks broke a three-day slide Monday as Fed Chairman Ben Bernanke's prospects for confirmation to another four-year term brightened. His term ends Sunday. Doubts last week about his ability to get confirmed in the Senate, combined with the White House's latest drive to clamp down on U.S. banks, led to the big drop in the market from Wednesday through Friday.

The dollar rose against other major currencies Tuesday, while gold advanced.

Crude oil fell 55 cents to $74.71 per barrel on the New York Mercantile Exchange.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was unchanged at 3.63 percent from late Monday.

Dow component Travelers rose $1.34, or 2.7 percent, to $50.23 after its report.

Apple Inc. rose $3.07, or 1.5 percent, to $205.94 after posting a profit increase late Monday.

The Russell 2000 index of smaller companies fell 5.95, or 1 percent, to 612.16.

Asian markets fell as concerns rose about Japan's economy hurting the country's bond rating. Standard & Poor's lowered its outlook on Japan's credit rating to negative from stable, saying it would slash the country's long-term rating if its economy remains weak and debt stays high.

Japan's Nikkei stock average fell 1.8 percent, while Hong Kong's Hang Seng fell 2.4 percent.

In later trading, Britain's FTSE 100 rose 0.3 percent, Germany's DAX index and France's CAC-40 each advanced 0.7 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks spent most of the session mired in moderate weakness, but were able to push higher in the wake of the latest statement from the Federal Open Market Committee (FOMC). 

Stocks reversed an early slide and ended higher Wednesday after the Federal Reserve issued a more upbeat assessment of the economy.

Major stock indexes were down before the Fed released its statement following a two-day meeting on interest rates, then advanced as investors digested the central bank's comments. Treasury prices also reversed direction, falling after the announcement as investors withdrew money from safe haven holdings.

The Fed said it believes "economic activity has continued to strengthen" since its last meeting in December. However, the Fed did not repeat its assertion that the housing market is improving.

*The NYSE DOW closed HIGHER +41.87 points +0.41%  on Wednesday January 27*
Sym. Last......... ........Change.......... 
Dow 10,236.16 +41.87 +0.41% 
Nasdaq 2,221.41 +17.68 +0.80% 
S&P 500 1,097.50 +5.33 +0.49% 
30-yr Bond 4.5530% -0.1300 

NYSE Volume 6,137,939,500  (prior day 5,469,008,500)
Nasdaq Volume 2,491,988,250  (prior day 2,406,852,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,217.47 -59.38 -1.13% 
DAX 5,643.20 -25.73 -0.45% 
CAC 40 3,759.80 -47.24 -1.24% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,252.08 -73.20 -0.71%  
Hang Seng 20,033.07 -76.26 -0.38%  
Straits Times 2,706.26 -34.07 -1.24% 

http://finance.yahoo.com/news/Stocks-end-higher-on-Feds-apf-2131313936.html?x=0

*Stocks end higher on Fed's economic assessment

Stocks rebound from slide as Federal Reserve sounds more upbeat note on economy; Dow adds 42*

By Tim Paradis, AP Business Writers , On Wednesday January 27, 2010, 4:40 pm 
NEW YORK (AP) -- Stocks reversed an early slide and ended higher Wednesday after the Federal Reserve issued a more upbeat assessment of the economy.

Major stock indexes were down before the Fed released its statement following a two-day meeting on interest rates, then advanced as investors digested the central bank's comments. Treasury prices also reversed direction, falling after the announcement as investors withdrew money from safe haven holdings.

The Fed said it believes "economic activity has continued to strengthen" since its last meeting in December. However, the Fed did not repeat its assertion that the housing market is improving.

The Fed said it is leaving interest rates near zero, as expected, but also that Kansas City Federal Reserve President Thomas Hoenig has voted against the decision to keep rates low.

Jamie Cox of Harris Financial Group in Colonial Heights, Va., said Hoenig's vote signals the central bank is moving closer to boosting rates.

"That means there are a couple of people who feel like that the economy is getting better at a nice rate that no longer warrants these exceptionally low rates," he said.

Stocks had fallen ahead of the Fed's announcement as the Commerce Department said sales of new homes fell 7.6 percent in December.

According to preliminary calculations, the Dow Jones industrial average rose 41.87, or 0.4 percent, to 10,236.16. It was down 40 ahead of the Fed's statement.

The Standard & Poor's 500 index rose 5.33, or 0.5 percent, to 1,097.50, while the Nasdaq composite index rose 17.68, or 0.8 percent, to 2,221.41.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.66 percent from 3.63 percent late Tuesday.

The dollar rose against most other major currencies, while gold fell.

Scott Marcouiller, senior equity market strategist Wells Fargo Advisors in St. Louis, said the Fed's statement that it is slowing its purchase of mortgage-backed securities suggests the central bank believes the U.S. housing market is improving.

The Fed said it expects to complete the purchase of $1.25 trillion in agency mortgage-backed securities and about $175 billion in agency debt by the end of the first quarter.

"Once we settle in here, the market will like this," he added. "This (statement) tells me that they're comfortable with how the economy is progressing, even though they didn't come right out and say that."

Reassurance from the Fed couldn't erase all of investors' worries about the economy. Caterpillar Inc. hurt the Dow industrials after the equipment maker issued a cautious forecast. The stock fell $2.41, or 4.3 percent, to $53.44.

Apple Inc. rose $1.94, or 0.9 percent, to $208.99 after the company announced a tablet-style computer that looks like a large iPhone.

The Fed's announcement was the latest event in Washington to command investors' attention.

Treasury Secretary Timothy Geithner defended the government's rescue last year of insurance giant American International Group Inc. in hearings on Capitol Hill. Analysts said the sometimes heated exchanges between Geithner and members of the House Committee on Oversight and Government Reform underscored concerns that Washington would be more assertive in its dealings with Wall Street.

Geithner oversaw the bailout as head of the Federal Reserve Bank of New York. Former Treasury Secretary Henry Paulson also testified.

Traders are also waiting to see whether Fed chairman Ben Bernanke, whose term ends Sunday, will win Senate approval for a second, four-year term. A vote is expected on Thursday.

The hearings came after President Barack Obama said last week that he would seek to limit trading by major financial institutions. That drew concerns from investors that bank profits would suffer.

Investors also looked to Obama's State of the Union speech Wednesday evening for clues about his plans to tighten restrictions on banks.

In other trading, crude oil fell $1.04 to settle at $73.67 per barrel on the New York Mercantile Exchange.

Falling stocks narrowly outpaced those that rose on the New York Stock Exchange, where volume came to 1.3 billion shares compared with 1.1 billion Tuesday.

The Russell 2000 index of smaller companies rose 6.22, or 1 percent, to 618.38.

Overseas markets fell for a second straight day on concerns about China's move to curb bank lending. The country is trying to prevent speculative bubbles and rapid inflation as its economy continues to grow quickly. A slowdown in growth in China could stunt a global economic recovery.

Japan's Nikkei stock average fell 0.7 percent and Hong Kong's Hang Seng lost 0.4 percent. Britain's FTSE 100 fell 1.1 percent, Germany's DAX index lost 0.5 percent, and France's CAC-40 dropped 1.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Losses among large-cap tech issues left the broader market mired in weakness, despite another big batch of generally better-than-expected earnings results. 

Stocks opened the session in mixed fashion amid news that Procter & Gamble (PG 61.68, +0.87), Colgate-Palmolive (CL 79.99, -0.40), 3M (MMM 80.75, -1.55), Ford (F 11.41, -0.14), Bristol-Myers Squibb (BMY 24.10, -0.20), and Nokia (NOK 13.98, +1.06) topped Wall Street's earnings estimates. Not all of the announcements featured upside surprises, though; AT&T (T 25.54, -0.08) and Baxter International (BAX 58.20, -0.71) both met expectations, but Eli Lilly (LLY 35.75, -0.64) came short of the consensus. 

The stock market resumed its slide Thursday as disappointing forecasts from technology companies brought new concerns about the economy.

A weaker outlook from technology maker Qualcomm Inc. dragged the Nasdaq composite index lower. Drops in Motorola Inc. and Apple Inc. also hurt tech stocks. The Dow Jones industrial average fell almost 116 points, its sixth loss in nine days.

Technology could get a bounce Friday from Amazon.com Inc. and Microsoft Corp., which posted improved earnings after the closing bell. Their stocks rose in after-hours electronic trading.

*The NYSE DOW closed LOWER -115.70 points -1.13%  on Thursday January 28*
Sym. Last......... ........Change.......... 
Dow 10,120.46 -115.70 -1.13% 
Nasdaq 2,179.00 -42.41 -1.91% 
S&P 500 1,084.53 -12.97 -1.18% 
30-yr Bond 4.5690% +0.1600 

NYSE Volume 6,385,494,500  (prior day 6,137,939,500)
Nasdaq Volume 2,906,601,250  (prior day 2,491,988,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,145.74 -71.73 -1.37% 
DAX 5,540.33 -102.87 -1.82% 
CAC 40 4,012.91 -1.06 -0.03% 


*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,414.29 +162.21 +1.58%  
Hang Seng 20,356.37 +323.30 +1.61%  
Straits Times 2,757.68 +51.42 +1.90% 

http://finance.yahoo.com/news/Disappointing-tech-forecasts-apf-1436636166.html?x=0

*Disappointing tech forecasts drag stocks lower

Stocks resume drop as weak forecasts from technology companies add to concerns about economy*

By Tim Paradis, AP Business Writer , On Thursday January 28, 2010, 5:40 pm 

NEW YORK (AP) -- The stock market resumed its slide Thursday as disappointing forecasts from technology companies brought new concerns about the economy.

A weaker outlook from technology maker Qualcomm Inc. dragged the Nasdaq composite index lower. Drops in Motorola Inc. and Apple Inc. also hurt tech stocks. The Dow Jones industrial average fell almost 116 points, its sixth loss in nine days.

Technology could get a bounce Friday from Amazon.com Inc. and Microsoft Corp., which posted improved earnings after the closing bell. Their stocks rose in after-hours electronic trading.

The market's drop Thursday also came in response to a report from Standard & Poor's that said it no longer considers Britain's banking system among the "most stable and low-risk." The report added to recent concern about rising debt levels in countries such as Greece and drove the dollar higher as investors sought safety. That sent some commodities prices lower, hurting materials stocks.

The tech forecasts and bank worries were yet more concerns for investors who have been focused on politics, not the economy. Stocks have been sliding as concern builds that a fragile economic recovery could be derailed by missteps in Washington. The questions have some analysts saying that a 10-month surge of 60.3 percent in the Standard & Poor's 500 index isn't warranted.

President Barack Obama's plan to overhaul banking regulations and restrict trading at large financial institutions spooked the market during the past week. The possibility that Federal Reserve Board chairman Ben Bernanke wouldn't be confirmed for a second term also had investors on edge, though those worries eased as the vote neared. The Senate voted to confirm Bernanke for a second term as the market was closing. His first four-year term ends Sunday.

"Our full-contact politics is really beginning to affect the markets as it's migrating into subjects that investors care deeply about, like who is our Fed chairman going to be," said Lawrence Creatura, portfolio manager at Federated Clover Investment Advisors. "That wasn't uncertain two weeks ago."

During his State of the Union address Wednesday, Obama avoided talking about the banking overhaul plan. Uncertainty over details of how that might be enacted are adding to investors' uncertainty.

Concerns about economy are also creeping back to the forefront. The Fed said Wednesday it would keep interest rates at historic lows and that the economy was showing signs of improvement. That helped stocks reverse a slide to end higher.

The enthusiasm faded Thursday after the Labor Department said weekly jobless claims decreased by less than expected last week and the Commerce Department reported durable goods orders didn't rise as fast as anticipated last month. The reports provided reminders that the economic recovery is likely to be slow.

The Dow fell 115.70, or 1.1 percent, to 10,120.46. The drop put the psychological barrier of 10,000 back in investors' sights. The Dow, which had been down as much as 181 points Thursday, hasn't traded below 10,000 since Nov. 6.

The Standard & Poor's 500 index fell 12.97, or 1.2 percent, to 1,084.53, while the Nasdaq fell 42.41, or 1.9 percent, to 2,179.00.

The recent drop in stocks is worrisome for some analysts because Friday is the last trading day of January. Traders often note that as goes January, so goes the year. The so-called January barometer holds that the performance of the S&P 500 index in January is a predictor of how stocks will end the year. There have been only five major errors since 1950, for an accuracy rate of 91.5 percent, according to the Stock Trader's Almanac.

The S&P 500 index is down 2.7 percent for January. It was down 5.7 percent since closing at a 15-month high last week, still short of a correction, which is generally defined as a drop of at least 10 percent.

Bond prices rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.64 percent from 3.66 percent late Wednesday.

The dollar rose against other major currencies, while gold fell.

Crude oil fell 3 cents to settle at $73.64 per barrel on the New York Mercantile Exchange.

Jason Weisberg, director institutional trading at Seaport Securities Corp. in New York, said the concerns about how Washington will change the rules for banks and steer the economy are overshadowing profit reports that are stronger.

"There is a disconnect between corporate earnings forecasts and guidance from those companies and the political environment," Weisberg said.

He predicts that stocks will resume their climb as some of the political uncertainties dissipate.

Investors might not be drawing much cheer from improved forecasts but they are punishing companies that fall short.

Tech stocks slid after Qualcomm, which makes chips and other technologies used in cell phones, said it expects a "subdued" rebound in the economy and reduced its full-year sales forecast. The stock fell $6.72, or 14.2 percent, to $40.48.

Motorola slid 92 cents, or 12.4 percent, to $6.48 after its profit forecast fell short of expectations. Apple Inc. fell $8.59, or 4.1 percent, to $199.29.

In economic news, new requests for unemployment benefits dropped by 8,000 last week to 470,000. Economists polled by Thomson Reuters expected a bigger decrease.

Meanwhile, orders to U.S. factories for big-ticket manufactured goods rose less than expected in December, increasing 0.3 percent. Economists expected a 2 percent rise.

On Friday, the government releases its initial reading on fourth-quarter gross domestic product. Analysts predict that GDP, which measures the country's economic output, likely rose at an annualized rate of 4.5 percent during the final three months of 2009.

More than two stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.1 billion shares compared with 1.1 billion Wednesday.

The Russell 2000 index of smaller companies fell 10.45, or 1.7 percent, to 607.93.

Britain's FTSE 100 fell 1.4 percent, Germany's DAX index dropped 1.8 percent, and France's CAC-40 fell 1.9 percent. Earlier, Japan's Nikkei stock average rose 1.6 percent.


----------



## bigdog

Source: http://finance.yahoo.com

*The Dow Jones industrial average closed the week down 105.65, or 1 percent, at 10,067.33. The Standard & Poor's 500 index fell 17.89, or 1.6 percent, to 1,073.87. The Nasdaq composite index fell 57.94, or 2.6 percent, to 2,147.35.*

A better-than-expected GDP report couldn't keep stocks from selling off and logging their third straight weekly loss, which has left the stock market down nearly 4% since the start of the new year. 

Stocks started the session in positive territory and even made their way to a gain of more than 1%. The move was underpinned by an advance fourth quarter GDP reading that showed annualized quarter-over-quarter growth of 5.7%, which was considerably stronger than the 4.7% rate of expansion that had been widely forecast. Core personal consumption expenditures (PCE) increased at an annualized quarter-over-quarter rate of 1.4%, which is slightly stronger than the 1.3% increase that had been expected. 

Stocks ended a disappointing January with a loss as investors questioned whether the economy will be able to sustain its big fourth-quarter growth rate. Downbeat earnings at technology companies also pulled stocks down.

The Dow Jones industrials fell 53 points Friday to close the month down 3.5 percent. Just 10 days earlier, the average was at a 15-month high. Investors who are increasingly uneasy about the economy, earnings and politics have been pulling money out of the market over the past week.

January was the worst month for the market since last February. Many market watchers believe January sets the tone for stocks for the rest of the year, and historical data backs that up. Since 1950, the Standard & Poor's 500's full-year direction has matched its January performance more than 90 percent of the time, according to the Stock Trader's Almanac.

*The NYSE DOW closed LOWER -53.13 points -0.52% on Friday January 29*
Sym. Last......... ........Change.......... 
Dow 10,067.33 -53.13 -0.52% 
Nasdaq 2,147.35 -31.65 -1.45% 
S&P 500 1,073.87 -10.66 -0.98% 
30-yr Bond 4.5100% -0.5900 

NYSE Volume 6,622,243,000  (prior day 6,385,494,500)
Nasdaq Volume 3,164,490,250  (prior day 2,906,601,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,188.52 +42.78 +0.83% 
DAX 5,608.79 +68.46 +1.24% 
CAC 40 4,012.91 -1.06 -0.03% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,198.04 -216.25 -2.08% 
Hang Seng 20,121.99 -234.38 -1.15% 
Straits Times 2,745.35 -12.33 -0.45% 

http://finance.yahoo.com/news/Stocks-fall-on-doubts-about-apf-1535724108.html?x=0

*Stocks fall on doubts about recovery's strength

Stocks end January with a loss, dogged by questions about how sustainable the recovery will be *

Stephen Bernard, AP Business Writer, On Friday January 29, 2010, 6:21 pm EST 
NEW YORK (AP) -- Stocks ended a disappointing January with a loss as investors questioned whether the economy will be able to sustain its big fourth-quarter growth rate. Downbeat earnings at technology companies also pulled stocks down.

The Dow Jones industrials fell 53 points Friday to close the month down 3.5 percent. Just 10 days earlier, the average was at a 15-month high. Investors who are increasingly uneasy about the economy, earnings and politics have been pulling money out of the market over the past week.

January was the worst month for the market since last February. Many market watchers believe January sets the tone for stocks for the rest of the year, and historical data backs that up. Since 1950, the Standard & Poor's 500's full-year direction has matched its January performance more than 90 percent of the time, according to the Stock Trader's Almanac.

Still, the January barometer can be faulty. Last year, when the market had its worst January ever, the Dow fell 11.4 percent for the month, and then went on to post an 18.8 percent gain for all of 2009.

Stocks inititally rose Friday after the Commerce Department said gross domestic product, the broadest measure of the economy, expanded at an annual rate of 5.7 percent during the fourth quarter, easily topping forecasts of 4.5 percent. The strong growth, coupled with an upbeat report on manufacturing in the Midwest, reassured investors about the economy.

However, details within the GDP report also raised questions about how well the recovery can be sustained. Most of the growth came from companies replenishing low inventories. Rebuilding inventories tends to create just a temporary bump in growth.

"The GDP report looks shiny and new on the surface," said Alan Gayle, senior investment strategist for RidgeWorth Investments. "But once you open up the hood, you start to see it's not as great as on the outside."

Michael Sheldon, chief market strategist at RDM Financial Group said the report "is going to leave doubts" in the minds of investors who are looking for consistent economic improvement.

Questions about the report added to the market's growing list of concerns. Investors were already uneasy after China said it was trying to limit its economic growth and as President Barack Obama announced plans to overhaul banking regulations. Shares have fallen sharply since hitting a 15-month high last week.

The Dow fell 53.13, or 0.5 percent, Friday to 10,067.33. The Dow is now down 658.10, or 6.1 percent, since reaching its 15-month high of 10,725.43 on Jan. 19.

The S&P 500 index fell 10.66, or 1 percent, to 1,073.87, while the Nasdaq composite index fell 31.65, or 1.5 percent, to 2,147.35, lagging the other indicators following a disappointing earnings report from Microsoft Corp.

For the month, the S&P 500 is down 3.7 percent, while the Nasdaq is off 5.4 percent.

Unlike most Januarys, there wasn't a flood of fresh money moving into the market this month, since so much cash went into last year's big rally, said Alan Gayle, senior investment strategist for RidgeWorth Investments. Without that injection of money, portfolio managers are left to collect profits from last year's big run, he said.

The recent spate of bad news and uncertainty led many professional investors to decide the best course of action was to sell.

"The market is in the process of recalibrating," Gayle said. "we will get some retrenchment."

There was good economic news Friday, but not enough for the market to hold its gains. The Chicago Purchasing Managers Index rose more than expected, providing some evidence the manufacturing sector, at least in the Midwest, is rebounding as well. The Chicago PMI climbed to 61.5 in January from 58.7 last month. Economists were expecting 57.5.

The Chicago report is seen as a precursor to the national Institute for Supply Management report due out Monday.

The market is still wary about government plans to increase the regulation of banks. Obama's calls last week to restrict the size of banks and to limit risky trading by big financial institutions helped spark the sell-off in stocks.

"Political uncertainty always gets people nervous," said Peter Zuger, co-portfolio manager of the Touchstone Mid Cap Value fund.

The unknowns coming out of Washington have helped stall the rally that sent the S&P 500 up 59 percent since last March. One political worry was put to rest Thursday when Federal Reserve Chairman Ben Bernanke won Senate confirmation for a second term.

Declining stocks outnumbered advancers by about 2 to 1 on the New York Stock Exchange, where consolidated volume came to 5.73 billion shares, up from 5.51 billion on Thursday.

Fourth-quarter earnings reports continued, and extended the pattern of mixed results among the companies that have already reported.

Microsoft said late Thursday it beat analysts' expectations, but the company reported slow spending on software by corporations. Analysts say companies can no longer get by just beating expectations; they need to show revenue growth and signs of future strengthening.

The company's stock fell 98 cents, or 3.4 percent, to $28.18.

Bond prices edged higher Friday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.60 percent from 3.64 percent late Thursday.

The dollar rose against other major currencies, while gold prices fell.

The Russell 2000 index of smaller companies fell 5.89, or 1 percent, to 602.04.

Overseas markets were mixed. Asian stocks stumbled on disappointing company forecasts and Toyota's recall of millions of cars, while Europe's major indexes rose following a report that showed inflation remained relatively benign in the 16 countries that use the euro and the strong U.S. GDP report.

Japan's Nikkei stock fell 2.1 percent, while Hong Kong's Hang Seng dropped 1.2 percent. Britain's FTSE 100 rose 0.8 percent, Germany's DAX index gained 1.2 percent, and France's CAC-40 climbed 1.4 percent.

The Dow Jones industrial average closed the week down 105.65, or 1 percent, at 10,067.33. The Standard & Poor's 500 index fell 17.89, or 1.6 percent, to 1,073.87. The Nasdaq composite index fell 57.94, or 2.6 percent, to 2,147.35.

The Russell 2000 index, which tracks the performance of small company stocks, fell 15.08, or 2.4 percent, for the week to 602.04.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 10,991.11, down 191.30, or 1.7 percent.
2135


----------



## bigdog

Source: http://finance.yahoo.com

Strength among natural resource plays helped the stock market put together a low-volume advance that concluded at session highs with all 10 major sectors in positive ground. 

Encouraging economic reports lifted stocks Monday and bolstered hopes that the recovery is in better shape than many had believed.

The Dow Jones industrial average rose 118 points after falling for the last two days. Energy stocks led the market higher following a strong earnings report from Exxon Mobil Corp.

Gains in manufacturing and personal incomes gave the market a strong start to February after rising doubts about the economy led to three weeks of losses.

*The NYSE DOW closed HIGHER +118.20 points +1.17%  on Monday February 1*
Sym. Last......... ........Change.......... 
Dow 10,185.53 +118.20 +1.17% 
Nasdaq 2,171.20 +23.85 +1.11% 
S&P 500 1,089.18 +15.31 +1.43% 
30-yr Bond 4.5690% +0.5900 

NYSE Volume 4,815,103,000  (prior day 6,622,243,000)
Nasdaq Volume 2,234,145,750  (prior day 3,164,490,250)

*Europe*
Symbol.... Last...... .....Change.......
 FTSE 100 5,247.41 +101.67 +1.98%  
DAX 5,654.48 +45.69 +0.81% 
CAC 40 4,012.91 -1.06 


*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,205.02 +6.98 +0.07%  
Hang Seng 20,243.75 +121.76 +0.61% 
Straits Times 2,736.17 -9.18 -0.33% 

http://finance.yahoo.com/news/Stocks-climb-as-manufacturing-apf-105375914.html?x=0

*Stocks climb as manufacturing, spending increase

Jumps in manufacturing activity and consumer spending lift stock prices; Dow gains 118 points*
By Tim Paradis and Ieva M. Augstums, AP Business Writers , On Monday February 1, 2010, 5:45 pm 

NEW YORK (AP) -- Encouraging economic reports lifted stocks Monday and bolstered hopes that the recovery is in better shape than many had believed.

The Dow Jones industrial average rose 118 points after falling for the last two days. Energy stocks led the market higher following a strong earnings report from Exxon Mobil Corp.

Gains in manufacturing and personal incomes gave the market a strong start to February after rising doubts about the economy led to three weeks of losses.

Investors were already becoming more optimistic thanks to news on Friday that the economy grew at the fastest pace in six years in the last three months of 2009.

"The market exhaled today," said Mike Shea, managing partner at Direct Access Partners LLC in New York. "This has been a very skittish market for the last three to four weeks."

The strongest piece of economic news came from the Institute for Supply Management, which said its index of U.S. manufacturing activity grew for a sixth straight month in January to the strongest level since August 2004. The trade group said factories increased production as customers replenished inventories.

The ISM's manufacturing index jumped to 58.4 in January from 54.9 in December, well above the 55.5 that analysts polled by Thomson Reuters had expected. Any reading above 50 signals growth.

Surveys released Monday in Europe and China showed that factories are going strong overseas too, which helped send shares of industrial companies higher.

Meanwhile the Commerce Department said consumer spending increased by 0.2 percent in December, its third straight monthly gain. The government also said personal income increased more than expected in December.

"The economy and the recovery seem to be on track," said Kevin Shacknofsky, portfolio manager of the Alpine Dynamic Dividend Fund in Purchase, N.Y.

The government reported last Friday that the U.S. economy grew at an annual rate of 5.7 percent in the final three months of 2009, a pace far stronger than economists had forecast.

The positive signals lent support to a market that fell sharply in late January, marking its worst monthly performance since major stock indexes hit 12-year lows early last year. The Dow reached a 15-month high of 10,725 on Jan. 19 and it is still down 5 percent since then. It lost 3.5 percent in January.

The Dow rose 118.20, or 1.2 percent, to 10,185.53, its biggest gain since Jan. 4. The broader Standard & Poor's 500 index rose 15.32, or 1.4 percent, to 1,089.19. The Nasdaq composite index rose 23.85, or 1.1 percent, to 2,171.20.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.66 percent from 3.60 percent late Friday.

The dollar mostly fell against other major currencies, while gold rose.

President Barack Obama sent Congress a $3.83 trillion budget that would pour more money into the fight unemployment -- which is still high at 10 percent -- and boost taxes on the wealthy.

Kent Engelke, chief economic strategist at Capitol Securities Management in Glen Allen, Va., said an improvement in the ISM's employment measure bodes well for the government's January employment report, which is due Friday and is the most important economic report on the calendar.

Engelke predicts that the jobs report will come in better than expected. While that would be good for the economy, an especially strong reading on the job market might also prompt concerns about when the Federal Reserve will have to start raising interest rates from their historic lows.

That could trip up the stock market as well as bonds, which have benefited greatly from the near-zero short term lending rates and other steps the Fed has taken to shore up U.S. banks and the debt markets.

"What are we going to do? The Fed is going to take away our high-octane fuel," Engelke said. "We're no longer going to have sugar being injected into our veins."

Investors also looked to earnings at Exxon Mobil, which topped expectations and helped pull energy stocks higher. The company's shares rose $1.75, or 2.7 percent, to $66.18.

Industrial stocks rose on the economic reports. Aluminum producer Alcoa Inc. rose 63 cents, or 5 percent, to $13.36, while United States Steel Corp. rose $2.89, or 6.5 percent, to $47.32.

Mining company BHP Billiton Ltd. rose $2.73, or 3.9 percent, to $72.10.

The technology-heavy Nasdaq lagged the broader market as Amazon.com fell $6.54, or 5.2 percent, to $118.87. The online retailer agreed to sell e-books at higher prices after getting pressure from publisher Macmillan.

Crude oil rose $1.54 to $74.43 per barrel on the New York Mercantile Exchange.

More than three stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 4.2 billion shares compared with 5.7 billion Friday.

The Russell 2000 index of smaller companies rose 7.21, or 1.2 percent, to 609.25.

Britain's FTSE 100 rose 1.1 percent, Germany's DAX index rose 0.8 percent, and France's CAC-40 rose 0.6 percent. Earlier, Japan's Nikkei stock average rose 0.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Despite a sluggish start and a lack of concerted leadership, the stock market made its way back above 1100 as buyers offered broad-based support for the second straight session. 

For fear that the previous session's low-volume rally was anything more than a reflex bounce that followed last week's losses, participants showed reservation in the early going. That made for listless, choppy trade. 

Signs of strength in the housing market pushed the Dow Jones industrial average to its second straight gain of more than 100 points.

An increase in the number of people with contracts to buy homes and the first profit at homebuilder D.R. Horton in three years raised hopes that one of the weakest parts of the economy is improving.

The Dow rose 111 points Tuesday, boosting its two-day gain to 230 points and extending a recovery from a slide in January. It was the biggest back-to-back advance for the Dow in three months.

*The NYSE DOW closed HIGHER +111.32 points +1.09% on Tuesday February 2*
Sym. Last......... ........Change.......... 
Dow 10,296.85 +111.32 +1.09% 
Nasdaq 2,190.06 +18.86 +0.87% 
S&P 500 1,103.32 +14.14 +1.30% 
30-yr Bond 4.5500% -0.1900 

NYSE Volume 5,502,060,000  (prior day 4,815,103,000)
Nasdaq Volume 2,509,005,750  (prior day 2,234,145,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,283.31 +35.90 +0.68% 
DAX 5,709.66 +55.18 +0.98% 
CAC 40 4,012.91 -1.06 -0.03% 


*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,371.09 +166.07 +1.63%  
Hang Seng 20,272.18 +28.43 +0.14%  
Straits Times 2,720.87 -15.30 -0.56% 

http://finance.yahoo.com/news/Signs-of-strength-in-housing-apf-298260406.html?x=0

*Signs of strength in housing market boost stocks

Stocks extend advance as pending home sales rise; Dow posts two-day gain of 230 points*

By Stephen Bernard and Tim Paradis, AP Business Writers , On Tuesday February 2, 2010, 5:39 pm 

NEW YORK (AP) -- Signs of strength in the housing market pushed the Dow Jones industrial average to its second straight gain of more than 100 points.

An increase in the number of people with contracts to buy homes and the first profit at homebuilder D.R. Horton in three years raised hopes that one of the weakest parts of the economy is improving.

The Dow rose 111 points Tuesday, boosting its two-day gain to 230 points and extending a recovery from a slide in January. It was the biggest back-to-back advance for the Dow in three months.

The National Association of Realtors, a trade group, said its index of sale contracts rose 1 percent in December. It was the ninth improvement over the past 10 months as buyers scrambled to take advantage of a first-time homebuyer tax credit before it was set to expire in November.

"It's a slow, sustainable growth," said Daniel Penrod, senior industry analyst for the California Credit Union League. "Most people would prefer a quick rebound but that's not likely to happen."

The home sales report was the latest bit of encouraging news on the economy. Stocks rose on Monday after a surprisingly strong reading on the manufacturing industry, and on Friday the government reported that the U.S. economy grew at an annual rate of 5.7 percent in the final three months of 2009, a faster pace than expected.

D.R. Horton Inc. posted its first earnings since 2007 during its fiscal first quarter. Much of its $192 million profit during the October-December period came from a tax gain, but its revenue rose because of a 36 percent jump in home sales. Orders increased 45 percent.

The reports brought a positive tone to the market, which stumbled in the second half of January as concerns arose that the recovery might be stalling and that the market's 10-month advance was running out of gas. The Standard & Poor's 500 index fell 3.7 percent in January, its worst month since hitting a 12-year low nearly a year ago.

On Tuesday, the Dow rose 111.32, or 1.1 percent, to 10,296.85. The Dow's two-day climb of 229.52, or 2.3 percent, is the biggest point and percentage gain since Nov. 4-5.

The S&P 500 index rose 14.13, or 1.3 percent, to 1,103.32, while Nasdaq composite index advanced 18.86, or 0.9 percent, to 2,190.06.

Bond prices rose, pushing yields lower. The yield on the benchmark 10-year Treasury note slipped to 3.65 percent from 3.66 percent late Monday.

Crude oil jumped $2.80 to $77.23 per barrel on the New York Mercantile Exchange, its biggest one-day gain in four months as stocks advanced and hopes grew that the economy is strengthening. The dollar fell against other major currencies, while gold rose.

Investors are turning their attention to a series of economic reports this week to see whether the growth of late last year has a good chance of continuing. The most important indicator will come on Friday when the Labor Department releases its January employment report.

Confidence also grew after Treasury Secretary Tim Geithner told the Senate Finance Committee that the economy is in better shape than a year ago but that the government still needs to take steps to bring down unemployment, which stands at 10 percent.

The market's two-day climb is helping stocks recover from its mid-January slide.

Michael Cannivet, portfolio manager and senior analyst at Palo Capital Inc. in Newport Beach, Calif., said the recent drop drew in people who were waiting to buy on dips.

"We think there is so much buying power on the sidelines that that is what's keeping the market from a full correction," Cannivet said, referring to a drop of at least 10 percent. Before the advance this week, the S&P 500 index was down 6.6 percent from its recent peak on Jan. 19.

Among home builders, D.R. Horton jumped $1.30, or 10.9 percent, to $13.21. Toll Brothers Inc. rose $1.04, or 5.6 percent, to $19.66, while Pulte Homes Inc. rose 79 cents, or 7.5 percent, to $11.35.

Lexmark International Inc. said lower costs helped increase its fourth-quarter earnings. The printer and copier maker rose $3.21, or 12 percent, to $30.01.

Ann Taylor Stores Corp. rose $2.36, or 17.6 percent, to $15.75 after saying its fourth-quarter earnings would top expectations on stronger sales and profit margins.

Neil Massa, senior trader at MFC Global Investment Management in Boston, noted that trading volume has been lighter on up days for the market than down days. That's a sign of fragile confidence because there are more investors standing pat when the market rises than when it falls.

"I'm just hesitant to think we've turned a corner," he said. Massa expects the market will trade in a tight range as Friday's jobs report approaches.

More than three stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.2 billion shares compared with 1 billion Monday.

The Russell 2000 index of smaller companies rose 4.80, or 0.8 percent, to 614.05.

Britain's FTSE 100 rose 0.7 percent, Germany's DAX index gained 1 percent, and France's CAC-40 rose 1.3 percent. Japan's Nikkei stock average rose 1.6 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Support for large-cap tech helped the Nasdaq Composite recover from the red to finish flat, but weakness in the broader market left the S&P 500 to chop along in negative territory as participants looked past several positive headlines and strong gains by China's markets. 

China's Shanghai Composite and Hong Kong's Hang Seng both booked gains in excess of 2% in their latest session as a couple of banks tightened lending in order to head off government mandates. However, neither those gains nor news that the ADP Employment Report showed a smaller-than-expected loss of 22,000 private sector jobs in January aroused support. An in-line reading of 50.5 for the January ISM Services Index was also dismissed. 

Given the stock market's strong gains in the two previous sessions, buyers opted to take a break from this session's action. That's not to say that sellers reclaimed control, though; overall losses were contained. 

A disappointing report on services industries halted a two-day advance in the stock market.

The Dow Jones industrial average fell 26 points Wednesday after jumping a total of 230 points in the first two days of the week. The broader Standard & Poor's 500 index posted a steeper drop, while the Nasdaq composite index was little changed.

The report on services businesses, which make up the biggest slice of the U.S. economy, reminded investors that a recovery will be slow.

*The NYSE DOW closed LOWER -26.30 points -0.26%  on Wednesday February 3*
Sym. Last......... ........Change.......... 
Dow 10,270.55 -26.30 -0.26% 
Nasdaq 2,190.91 +0.85 +0.04% 
S&P 500 1,097.28 -6.04 -0.55% 
30-yr Bond 4.63% +0.82 

NYSE Volume 4,914,568,000  (prior day 5,502,060,000)
Nasdaq Volume 2,341,890,500   (prior day 2,509,005,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,253.15 -30.16 -0.57% 
DAX 5,672.09 -37.57 -0.66% 
CAC 40 4,012.91 -1.06 -0.03% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,404.33 +33.24 +0.32%  
Hang Seng 20,722.08 +449.90 +2.22%  
Straits Times 2,764.84 +43.97 +1.62% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks slip as growth in services falls short

Stocks fall as growth in service businesses in January lags expectations; Dow slips 26 points*

By Tim Paradis, AP Business Writer , On Wednesday February 3, 2010, 5:30 pm 
NEW YORK (AP) -- A disappointing report on services industries halted a two-day advance in the stock market.

The Dow Jones industrial average fell 26 points Wednesday after jumping a total of 230 points in the first two days of the week. The broader Standard & Poor's 500 index posted a steeper drop, while the Nasdaq composite index was little changed.

The report on services businesses, which make up the biggest slice of the U.S. economy, reminded investors that a recovery will be slow.

The Institute for Supply Management said its index of service activity rose to 50.5 in January from a revised 49.8 in December. The January reading was below the level of 51 analysts polled by Thomson Reuters had been expecting. Any number above 50 signals growth.

The weaker activity in service companies chilled enthusiasm about a report that private employers cut fewer jobs than expected last month. The news on jobs from ADP, a payroll company, comes ahead of the government's January employment report on Friday, which is expected to show employers added 5,000 jobs in the first month of the year but that unemployment edged up to 10.1 percent from 10 percent.

ADP said employers cut 22,000 non-farm, private jobs last month. That was the best showing since employment started to weaken in February 2008.

A reduced forecast from Pfizer Inc. dragged health care stocks lower. Meanwhile, bank stocks fell after PNC Financial Services Group Inc. said it would repay $7.6 billion in bailout funds to the U.S. government. Traders grew concerned that other regional banks would face pressure to follow suit.

The market could get a boost Thursday from Cisco Systems Inc. The world's largest maker of computer networking equipment issued earnings and forecasts after the closing bell Wednesday that came in well ahead of expectations. CEO John Chambers, an important voice on Wall Street, said strengthening in the company's business was "a clear indication that we are entering the second phase of the economic recovery." The company's stock rose more than 2 percent in after-hours trading.

Stocks jumped the first two days of this week on encouraging reports about the economy. The advance came after stocks ended January with a loss. The market retreated late last month on concerns that the recovery was faltering and a strong 10-month rally was running out of steam.

Events in Washington continued to ripple through the stock market. Transportation Secretary Ray LaHood said he misspoke when he said early Wednesday that owners of Toyota cars and trucks should stop driving them because of problems with accelerator pedals in some models. Toyota shares fell sharply but pulled off their lows after LaHood clarified his remarks.

The zigzag in Toyota's stock was the latest reminder that events in Washington are high on investors' list of concerns. Worries that tougher laws, including President Barack Obama's proposal to restrict banks trading activity, would hurt profits helped drive the market lower last month.

"We have a lot of problems to get through and every once in a while Washington throws an incendiary device into the room," said William Rutherford, president of Rutherford Investment Management in Portland, Ore. "Talk about tax increases and more government regulation is putting a lot of pressure on the markets."

The Dow fell 26.30, or 0.3 percent, to 10,270.55. The S&P 500 index fell 6.04, or 0.6 percent, to 1,097.28, while the Nasdaq rose 0.85, or less than 0.1 percent, to 2,190.91.

Three stocks fell for every two that rose on the New York Stock Exchange, where volume came to 1.1 billion shares compared with 1.2 billion Tuesday.

The Dow rose Monday and Tuesday on upbeat reports about manufacturing and housing. The 230-point gain was the biggest back-to-back advance for the Dow in three months. It came after the Dow lost 3.5 percent in January.

In other trading Wednesday, bond prices fell and pushed yields higher. The yield on the benchmark 10-year Treasury note rose to 3.71 percent from 3.65 percent late Tuesday.

The dollar rose against other major currencies, while gold fell.

Crude oil fell 25 cents to $76.98 per barrel on the New York Mercantile Exchange.

Kim Caughey, vice president and investment analyst at Fort Pitt Capital Group in Pittsburgh, said the economic numbers are driving short-term trading but that uncertainty about how lawmakers might rewrite the rules that govern corporations is still hanging over the market.

"There is tough language in some bills out there that if passed currently could prove chilling," she said. "I'm betting that that there will be some damage done but not nuclear Armageddon."

Cisco which rose 5 cents to $23.07 in regular trading, was trading at $23.72 after the market closed.

Pfizer Inc. posted increased fourth-quarter earnings but the results were weaker than analysts had forecast. The stock fell 44 cents, or 2.3 percent, to $18.62.

PNC fell 94 cents, or 1.7 percent, to $53.71 after saying it would repay bailout money.

Other regional banks posted steeper drops. Fifth Third Bancorp fell 48 cents, or 3.9 percent, to $12, while Huntington Bancshares Inc. slid 22 cents, or 4.5 percent, to $4.71.

Toyota Motor Corp. fell $4.69, or 6 percent, to $73.49 after sliding as much as 8 percent.

The Russell 2000 index of smaller companies fell 3.39, or 0.6 percent, to 610.66.

Britain's FTSE 100 fell 0.6 percent, Germany's DAX index lost 0.7 percent, and France's CAC-40 fell 0.5 percent. Japan's Nikkei stock average rose 0.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Woes over the fiscal health of select European nations and some disappointing jobless claims numbers fueled a selling frenzy that culminated in the market's worst single-session percentage loss since April. 

Concerns for the fiscal health of Portugal, Greece, and Spain in the wake of some tepid bond auction results stirred early selling interest, which intensified with news that initial jobless claims for the week ended Jan. 30 increased more than expected week-over-week to 480,000. Continuing claims remained steady week-over-week at 4.60 million, but that was still higher than the consensus call for 4.58 million continuing claims. 

Disappointment over the headlines led global participants to seek safety in the dollar, which spiked 0.7% to a new six-month high

Stocks buckled Thursday under the growing belief that the global economy is weaker than many investors expected and likely to stop companies from hiring. The Dow Jones industrials briefly traded below 10,000 for the first time in three months.

A flood of bad news, including rising debt levels in European nations and an unexpected jump in the number of Americans filing for unemployment benefits, had investors pulling money out of assets like stocks and commodities that look increasingly risky. Fears of more disappointing news Friday, when the government issues its January employment report, contributed to the slide.

Demand for safer investments sent the dollar and Treasurys higher and the euro falling. Major indexes skidded as much as 3.1 percent to their lowest levels in three months. The Dow fell 268 points and briefly traded below 10,000 for the first time since Nov. 6. The Dow's 2.6 percent drop was its biggest in seven months. And it was the ninth time in 14 days that the Dow has moved by more than 100 points.

*The NYSE DOW closed LOWER -268.37  points -2.61% on Thursday February 4*
Sym. Last......... ........Change.......... 
Dow 10,002.18 -268.37 -2.61% 
Nasdaq 2,125.43 -65.48 -2.99% 
S&P 500 1,063.11 -34.17 -3.11% 
30-yr Bond 4.5450% -0.8700 

NYSE Volume 6,928,269,500  (prior day 4,914,568,000)
Nasdaq Volume 2,836,818,250  (prior day 2,341,890,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,255.63 +2.48 +0.05% 
DAX 5,695.97 +23.88 +0.42% 
CAC 40 4,012.91 -1.06 -0.03% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,355.98 -48.35 -0.46%  
Hang Seng 20,341.64 -380.44 -1.84%  
Straits Times 2,744.98 -19.86 -0.72% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks tumble on worries about jobs, European debt

Market slides, pulling Dow below 10,000 on rise in jobless claims, debt problems in Europe*

By Tim Paradis, AP Business Writer , On Thursday February 4, 2010, 5:40 pm 

NEW YORK (AP) -- Stocks buckled Thursday under the growing belief that the global economy is weaker than many investors expected and likely to stop companies from hiring. The Dow Jones industrials briefly traded below 10,000 for the first time in three months.

A flood of bad news, including rising debt levels in European nations and an unexpected jump in the number of Americans filing for unemployment benefits, had investors pulling money out of assets like stocks and commodities that look increasingly risky. Fears of more disappointing news Friday, when the government issues its January employment report, contributed to the slide.

Demand for safer investments sent the dollar and Treasurys higher and the euro falling. Major indexes skidded as much as 3.1 percent to their lowest levels in three months. The Dow fell 268 points and briefly traded below 10,000 for the first time since Nov. 6. The Dow's 2.6 percent drop was its biggest in seven months. And it was the ninth time in 14 days that the Dow has moved by more than 100 points.

Just 273 stocks rose on the New York Stock Exchange, while more than 2,800 fell. On of the worst performers was metals producer Freeport-McMoRan Copper & Gold Inc., which tumbled 5.3 percent. The few winners included Cisco Systems Inc. following a big increase in its earnings. Trading volume at the NYSE rose to 1.5 billion shares from 1 billion Wednesday.

The day's news reminded investors that the global economic recovery remains tenuous. It also raised questions about whether the market can resume its rebound from 12-year lows it hit last March.

The market's slide began in Europe on concerns about onerous debt levels in Greece, Portugal and Spain. Worries about those countries set off broader concerns that governments will have difficulty containing rising debts and borrowing more money to help revive their economies.

"The market is becoming aware that the wall of cash that lifted it last year is coming to an end," said Jon Merriman, chief executive of Merriman Curhan Ford in San Francisco.

The euro hit a seven-month low against the dollar on the news. The rising dollar hurt demand for commodities, which are priced in dollars and become more expensive to foreign buyers when the dollar climbs. Gold tumbled $49, or 4.4 percent.

The market's drop was the latest leg of a stumble that began in mid-January. Stocks fell then in response to China's attempts to curb its overheated growth. Those moves raised fears that the other world economies could suffer as a result. The pullback in stocks worsened as leaders in Washington said they would impose tighter regulations on U.S. banks.

Investors also worry that a slowdown in foreign countries would spill over to the U.S. and make it harder for the economy to overcome its biggest problem: unemployment.

The Labor Department said Thursday that claims for unemployment benefits rose by 8,000 to 480,000 last week. The news disappointed investors who had hoped for a drop. It was the fourth increase in the past five weeks.

The jobless claims numbers chilled expectations that the government's January jobs report would show that employers added workers in the first month of the year. Analysts currently expect Friday's report to show that employers added 5,000 jobs in January. The government is also expected to report that the unemployment rate ticked up to 10.1 percent from 10 percent.

"You've got the recipe for a market in which my screen is entirely red," said Bernie McSherry, senior vice president of strategic initiatives at Cuttone & Co. in New York.

The Dow fell 268.37, or 2.6 percent, to 10,002.18. The Dow has fallen 723 points, or 6.7 percent, since closing at a 15-month high of 10,725.43 on Jan. 19.

The broader Standard & Poor's 500 index fell 34.17, or 3.1 percent, to 1,063.11, its steepest drop since April 20, 2009.

The Nasdaq composite index slid 65.48, or 3 percent, to 2,125.43.

In other trading, bond prices rose sharply, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.61 percent from 3.71 percent late Wednesday.

The Chicago Board Options Exchange's Volatility Index jumped 20.7 percent. An increase in the VIX, which is known as the market's fear gauge, is a sign that investors predict more big moves in stocks.

Demand for safety jumped as traders remained skeptical about Greece's plan to slash its budget deficit from 12.7 percent of the nation's gross domestic product in 2009 to less than 3 percent in 2012. Meanwhile, Portugal on Wednesday cut a planned treasury bill issue. And Spain said its deficits will be more than anticipated in the coming three years.

Charles Norton, portfolio manager of the ALPS/GNI Long-Short Fund, said the renewed questions about foreign governments' ability to finance their deficits are a sign that investors have been too optimistic in predicting a recovery in the world's economies.

Norton said signs of improvement in the U.S. economy are less impressive than they first appear. The government said last week that the economy grew at an annual rate of 5.7 percent during the fourth quarter. A big part of that gain came from companies rebuilding inventories.

"They are the only sources of economic activity that we've seen so far," Norton said. "They're both likely to wane over the course of this year. Then what's left?"

The bad news on employment and European government debt overshadowed pockets of better than expected sales reports from some U.S. retailers. Macy's Inc. raised its profit forecast after sales rose and it discounted fewer items.

The rise in the dollar hit commodity prices and stocks of companies that produce them. Crude oil fell $3.84 to settle at $73.14 per barrel on the New York Mercantile Exchange. It was the biggest one-day drop in four months.

Aluminum producer Alcoa Inc. fell 58 cents, or 4.3 percent, to $12.91, while Freeport-McMoRan fell $3.72, or 5.3 percent, to $66.74.

Cisco rose 9 cents, or 0.4 percent, to $23.16. Macy's rose 43 cents, or 2.7 percent, to $16.67.

Energy stocks fell as oil slid. Exxon Mobil Corp. fell $1.88, or 2.8 percent, to $64.72, while Chevron Corp. fell $1.84, or 2.5 percent, to $71.37.

The Russell 2000 index of smaller companies fell 20.98, or 3.4 percent, to 589.68.

Britain's FTSE 100 dropped 2.2 percent, Germany's DAX index slid 2.5 percent, and France's CAC-40 lost 2.8 percent. Japan's Nikkei stock average fell 0.5 percent.


----------



## Atlas79

Hope and change, baby. Hope... and... change.

Remember the Bush years? Yeah, that Bush everyone hated.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week down 55.10, or 0.5 percent, at 10,012.23. The Standard & Poor's 500 index fell 7.68, or 0.7 percent, to 1,066.19. The Nasdaq composite index fell 6.23, or 0.3 percent, to 2,141.12.

Volatility returned to the market this week, with a sharp 3% drop in the S&P 500 on Thursday and big swings in the major averages today. However, looking at the end result the picture is less dramatic, as S&P 500 declined just -0.7% on the week. The increased volatility has stemmed from sovereign debt concerns centered around the more fiscally troubled European nations such as Portugal, Spain and Greece. This uncertainty pressured overseas markets over the past two days, and resulted in strength in the dollar. 

A battered stock market recovered from a sharp drop in late trading Friday but still posted its fourth straight weekly drop.

The Dow Jones industrials, down nearly 170 points in afternoon trading, clawed their way back to finish with a gain of 10. But more stocks fell than rose on the New York Stock Exchange as investors contended with another series of troubling signals about the global economy.

Investors are concerned that European governments will have trouble getting their massive deficits under control. The Labor Department, meanwhile, offered only modest hope of improvement in the jobs market in its closely watched monthly report.

*The NYSE DOW closed HIGHER +10.05 points +0.10% on Friday February 5*
Sym. Last......... ........Change.......... 
Dow 10,012.23 +10.05 +0.10% 
Nasdaq 2,141.12 +15.69 +0.74% 
S&P 500 1,066.19 +3.08 +0.29% 
30-yr Bond 4.4930% -0.5200 

NYSE Volume 7,766,628,500  (prior day 6,928,269,500)
Nasdaq Volume 2,836,146,250   

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,060.92 -78.39 -1.53% 
DAX 5,434.34 -98.90 -1.79% 
CAC 40 3,563.76 -125.49 -3.40% 


*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,057.09 -298.89 -2.89% 
Hang Seng 19,665.08 -676.56 -3.33% 
Straits Times 2,683.56 -61.42 -2.24% 

http://finance.yahoo.com/news/Stocks-pull-out-of-slump-but-apf-3414941666.html?x=0&.v=33

*Stocks pull out of slump but end week lower

Stocks cap fourth straight losing week; Dow recovers from drop of nearly 170 points to end up*

By Stephen Bernard and Tim Paradis, AP Business Writers , On Friday February 5, 2010, 6:17 pm EST 

NEW YORK (AP) -- A battered stock market recovered from a sharp drop in late trading Friday but still posted its fourth straight weekly drop.

The Dow Jones industrials, down nearly 170 points in afternoon trading, clawed their way back to finish with a gain of 10. But more stocks fell than rose on the New York Stock Exchange as investors contended with another series of troubling signals about the global economy.

Investors are concerned that European governments will have trouble getting their massive deficits under control. The Labor Department, meanwhile, offered only modest hope of improvement in the jobs market in its closely watched monthly report.

"Clearly we've entered the worry, fear camp," said Rob Lutts, president and chief investment office at Cabot Money Management. "It's a very fragile investor psychology today. It doesn't take much ... to send them running for the hills."

The late-day comeback appeared to be partly due to the Federal Reserve's announcement that consumers borrowed less for an 11th straight month in December. But the drop of $1.8 billion was far less than the decrease of $9 billion analysts forecast. That fueled hopes that consumer spending will increase.

But for the second straight day, there was unsettling economic news. On Thursday, the Dow fell 268 on growing worries about the global economy.

The U.S. unemployment rate unexpectedly fell in January to 9.7 percent from 10 percent, the government reported. At the same time, however, employers cut 20,000 jobs, more than the gain of 5,000 economists predicted, according to Thomson Reuters. The two numbers are calculated from different surveys.

Timothy Speiss, head of Eisner LLP's Personal Wealth Advisors group, said the improving unemployment rate was a good sign, but that investors are well aware that other problems exist in the world's economies.

The jobs report came as more troubling news emerged in Europe that Portugal and other weak economies were falling behind in efforts to control their deficits.

Portugal's opposition parties defeated a government austerity plan Friday and passed their own bill allowing the country's autonomous regions to rack up more debt. That raised new questions about European countries' ability to control their swollen budget deficits, which are undermining faith in the region's euro currency. Greece and Spain are also grappling with massive deficits. Concerns about debt could make it harder for countries to maintain spending that would revive their economies.

"People were so relieved that things got better but now I think people are starting to think about the hospital bill," said Karl Mills, chief investment officer at Jurika, Mills & Keifer LLC in Oakland, Calif., referring to the debt loads.

The concerns about European nations are adding to a pile of worries that also include China's efforts to keep its growth in check and plans in Washington to restrict big banks.

The Dow rose 10.05, or 0.1 percent, to 10,012.23 after being down as much as 167 points.

For the week, the Dow lost 0.5 percent. The index hadn't fallen for four straight weeks since July. The Dow is down 713 points, or 6.7 percent, since closing at a 15-month high of 10,725.43 on Jan. 19.

The broader Standard & Poor's 500 index rose 3.08, or 0.3 percent, to 1,066.19 and ended down 0.7 percent for the week. The S&P 500 index hasn't fallen four straight weeks since March.

The Nasdaq composite index rose 15.69, or 0.7 percent, to 2,141.12. It lost 0.3 percent for the week.

About three stocks fell for every two that rose on the NYSE, where consolidated volume came to 6.5 billion shares compared with 5.9 billion Thursday.

The late-day turnaround may have been the result of a defensive move by short sellers, or investors who bet that a stock will fall in value, said Christian Bendixen, director of technical research at Bay Crest Partners in New York.

When stocks turn higher, short sellers can be pressured to quickly unwind their positions to limit future losses. To do that, they have to buy shares, which can push the stock price up even more in what's known as a "short squeeze."

"I think there was a little bit of a short squeeze," Bendixen said. "People started getting nervous that the selloff was too quick. They went from extremely bullish to extremely bearish."

Still, Bendixen said many investors dumped risky assets heading into the weekend amid worries about the global economy, including growing fears of a debt crisis in Europe.

"It almost feels a little bit like 2008 when no one wanted to hold risk over the weekend because you didn't know what news would come out on Monday," he said.

The Labor Department revised some of its past statistics lower, but analysts said there were some encouraging signs. The number of average hours worked and hourly pay both improved, as did the number of employers adding temporary workers. The hiring of temporary employees usually precedes companies adding permanent jobs during a recovery.

"Jobs may not be a plus yet," said John Merrill, chief investment officer at Tanglewood Wealth Management. But, he added: "the trend is unmistakable. It's clearly positive."

Demand for safer investments rose. The dollar climbed, while Treasury bond prices inched higher. The yield on the benchmark 10-year Treasury note, which moves opposite to its price, fell to 3.57 percent from 3.61 percent.

Gold fell. Oil dropped $1.95 to settle at $71.19 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 3.30, or 0.6 percent, to 592.98.

Overseas markets fell following the global rout the day before. Britain's FTSE 100 lost 1.5 percent, Germany's DAX index dropped 1.8 percent, and France's CAC-40 tumbled 3.4 percent. Japan's Nikkei stock average fell 2.9 percent.

AP Business Writer Stephenson Jacobs contributed to this story.

The Dow Jones industrial average closed the week down 55.10, or 0.5 percent, at 10,012.23. The Standard & Poor's 500 index fell 7.68, or 0.7 percent, to 1,066.19. The Nasdaq composite index fell 6.23, or 0.3 percent, to 2,141.12.

The Russell 2000 index, which tracks the performance of small company stocks, fell 3.06, or 0.5 percent, for the week to 598.98.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 10,900.29, down 90.82, or 0.8 percent

2521


----------



## bigdog

Source: http://finance.yahoo.com

Weakness among financial issues took the broader market through a near-term technical support level to settle at a session low, and left the Dow to close below 10,000 for the first time in three months. 

Financial stocks dropped 2.2% as participants pressured the sector after it had rallied this past Friday for a 1.2% gain. Financials traded as laggards for the entire session, but didn't drag down the broader market until late in the session. 

The Dow Jones industrial average closed below 10,000 for the first time in three months Monday on nagging concerns about debt loads in Europe.

The Dow, down almost 104 points, had its 10th triple-digit move in 16 trading days. Shares of big banks pulled the market lower, extending a slump that has led to four straight weekly losses.

Mounting deficits in weaker European economies including Greece, Portugal and Spain have raised questions about the health of the global financial system. That compounded concerns about growth in China and proposed U.S. bank regulations took the market down from a 15-month high reached in January.

*The NYSE DOW closed LOWER -103.84 points -1.04% on Monday February 8*
Sym. Last......... ........Change.......... 
Dow 9,908.39 -103.84 -1.04% 
Nasdaq 2,126.05 -15.07 -0.70% 
S&P 500 1,066.18 -0.01 -0.00% 
30-yr Bond 4.5220% +0.2900 

NYSE Volume 4,909,233,500  (prior day 7,766,628,500) 
Nasdaq Volume 2,059,284,750 (prior day 2,836,146,250

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,092.33 -160.82 -3.06% 
DAX 5,484.85 +50.51 +0.93% 
CAC 40 4,012.91 -1.06 -0.03% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,951.82 -105.27 -1.05%  
Hang Seng 19,550.89 -114.19 -0.58%  
Straits Times 2,693.62 +10.06 +0.37% 

http://finance.yahoo.com/news/Dow-c...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Dow closes below 10,000 for first time in 3 months

Stocks fall as investors remain wary of rising debt problems in Europe; Dow slides 104*

By Tim Paradis, AP Business Writer , On Monday February 8, 2010, 5:34 pm 

NEW YORK (AP) -- The Dow Jones industrial average closed below 10,000 for the first time in three months Monday on nagging concerns about debt loads in Europe.

The Dow, down almost 104 points, had its 10th triple-digit move in 16 trading days. Shares of big banks pulled the market lower, extending a slump that has led to four straight weekly losses.

Mounting deficits in weaker European economies including Greece, Portugal and Spain have raised questions about the health of the global financial system. That compounded concerns about growth in China and proposed U.S. bank regulations took the market down from a 15-month high reached in January.

Greece's finance minister said Monday the government is preparing to boost some taxes to shore up its finances. But civil servants opposed to cutbacks have pledged to strike on Wednesday.

Brett Hryb, a portfolio manager with MFC Global Investment Management in Toronto, said the latest concern is that the financial troubles in a country like Greece, whose economy is small compared with the rest of Europe, will spill into other countries.

"Clearly Greece itself is nothing. It's just a blip. It's what the contagion could be," he said.

Monday's drop extends the stumble the market began in mid-January. At that time, China announced plans to contain economic growth and the Obama administration proposed rules to restrict trading by large financial institutions.

The Dow fell 103.84, or 1 percent, to 9,908.39. On Thursday, the Dow traded below the psychological barrier of 10,000 for the first time since November. It hadn't closed below that mark since Nov. 4. The Dow is still up 51.3 percent since March.

The broader Standard & Poor's 500 index fell 9.45, or 0.9 percent, to 1,056.74, while the Nasdaq composite index fell 15.07, or 0.7 percent, to 2,126.05.

Bond prices edged higher, pushing yields lower. The yield on the benchmark 10-year Treasury note was flat at 3.57 percent from late Friday.

The dollar fell against other major currencies, while gold rose.

Crude oil rose 70 cents to settle at $71.89 per barrel on the New York Mercantile Exchange.

Questions about the global economy have interrupted a 10-month climb in stocks, which hit 12-year lows last March. The Dow is down 817 points, or 7.6 percent, from its recent high of 10,725.43 on Jan. 19.

Jerry Webman, chief economist at OppenheimerFunds Inc., said he doesn't expect that problems with rising debt loads in Europe will cascade into other parts of the world's economy, but he remains cautious.

"Right now, when anybody says the word 'contained' I start to tremble," he said, referring to his skepticism about those who downplay worries about Greece and other countries with rising deficits.

Webman is also concerned by the shrugs that have greeted corporate earnings reports. Three out of four of the companies in the S&P 500 index that have reported results for the fourth quarter have posted stronger sales and profit numbers than analysts forecast, according to Thomson Reuters.

"The market is obviously not that enthusiastic about these good bottom-line and good top-line numbers," Webman said, adding that he sees that as a reason to be concerned about the direction of stocks.

In earnings news, the toymaker Hasbro Inc. said its profit surged 77 percent in the fourth quarter while drugstore chain CVS Caremark Corp. said its earnings rose 11 percent. The results beat analysts' estimates.

Hasbro jumped $3.91, or 12.7 percent, to $34.71, while CVS rose $1.65, or 5.3 percent, to $32.72.

Three stocks fell for every two that rose on the New York Stock Exchange, where volume came to 1.1 billion shares compared with 1.6 billion Friday.

The Russell 2000 index of smaller companies fell 6.49, or 1.1 percent, to 586.49.

Britain's FTSE 100 rose 0.6 percent, Germany's DAX index gained 0.9 percent, and France's CAC-40 rose 1.2 percent. Earlier, Japan's Nikkei stock average fell 1.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average jumped back above 10,000 on hope that the European Union will help Greece manage its growing debt burden.

The Dow rose +150.25 points  Tuesday, a day after closing below 10,000 for the first time in three months. The major indexes all gained more than 1 percent.

Global markets bounced back on reports that European Central Bank President Jean-Claude Trichet is changing his travel schedule to attend a meeting of EU officials on Thursday and that plans are being developed to rescue Greece. The reports are raising hopes that policymakers will take bigger steps to contain troubles in Greece. The county is struggling with big budget gaps and is seeing demand fall for its debt.

*The NYSE* DOW closed HIGHER +150.25 points +1.52% on Tuesday February 9
Sym. Last......... ........Change.......... 
Dow 10,058.64 +150.25 +1.52% 
Nasdaq 2,150.87 +24.82 +1.17% 
S&P 500 1,070.52 +13.78 +1.30% 
30-yr Bond 4.5680% +0.4600 

NYSE Volume 6,120,557,500  (prior day 4,909,233,500)
Nasdaq Volume 2,067,552,750  (prior day 2,059,284,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,111.84 +19.51 +0.38% 
DAX 5,498.26 +13.41 +0.24% 
CAC 40 3,612.76 +5.49 +0.15% 


*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,932.90 -18.92 -0.19%  
Hang Seng 19,790.28 +239.39 +1.22%  
Straits Times 2,745.02 +51.40 +1.91% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks climb on hopes for Greece debt assistance

Stocks rally on hopes EU will help Greece with growing debt; Dow climbs back above 10,000*

By Stephen Bernard and Tim Paradis, AP Business Writers , On Tuesday February 9, 2010, 3:42 pm 

NEW YORK (AP) -- The Dow Jones industrial average jumped back above 10,000 on hope that the European Union will help Greece manage its growing debt burden.

The Dow rose +150.25 points Tuesday, a day after closing below 10,000 for the first time in three months. The major indexes all gained more than 1 percent.

Global markets bounced back on reports that European Central Bank President Jean-Claude Trichet is changing his travel schedule to attend a meeting of EU officials on Thursday and that plans are being developed to rescue Greece. The reports are raising hopes that policymakers will take bigger steps to contain troubles in Greece. The county is struggling with big budget gaps and is seeing demand fall for its debt.

Though Greece's economy is small, investors are concerned that troubles there will spill into other countries. World stock markets have been tumbling in recent weeks on concerns that debt problems would spread. Investors are also concerned by budget gaps in Ireland, Portugal, Spain and the uncertainty has undermined Europe's common currency, the euro.

The European debt problems are the latest obstacle for investors who have put the market's 10-month rally on hold. Stocks began retreating in mid-January after China said it would try to control its economy to avoid speculative bubbles. Things got worse when President Barack Obama announced plans to curb trading by large financial institutions.

On Tuesday, Greece took its latest steps to calm markets, pledging to increase retirement ages, raise fuel taxes and accelerate reforms. However a strike over the government's new austerity measures is still expected to proceed on Wednesday.

"There's some euphoria that maybe it's not going to be blowing up," said Erik Davidson, director of investments for Wells Fargo Private Bank in Carmel, Calif., referring to easing fears over Greece.

The Dow also got a boost from Morgan Stanley's upgrade to shares of Caterpillar Inc. It was Morgan's first upbeat take on the stock in three years. A cautious forecast from the equipment maker hurt stocks late last month.

In late afternoon trading, the Dow rose 200.50, or 2 percent, to 10,108.89, its steepest gain since Nov. 9. The Standard & Poor's 500 index rose 17.47, or 1.7 percent, to 1,074.21, while the Nasdaq composite index rose 30.72, or 1.4 percent, to 2,156.77.

Stocks have become more volatile in recent weeks as concerns grow about the strength and sustainability of a global economic recovery. The Dow, which fell almost 104 points Monday, has posted triple-digit moves in 10 of the last 16 trading days. The index has posted four consecutive Dow market has retreated 7.6 percent since hitting a 15-month high in the middle of January.

The market's leap higher illustrates how reliant investors around the world are on soothing words from policymakers. In the U.S., stocks have barreled higher for nearly a year because the Federal Reserve has pledged to hold interest rates low to help revive the economy. The flow of cheap cash has perhaps been the biggest driver of the market as investors look for places to stick their money.

Analysts are asking how markets will fare as the Fed dismantles some of its emergency support programs for the economy, as it has started to do. There are concerns, for example, that home loan rates will rise will rise as the Fed ends a program to purchase mortgage debt to drive up demand.

"It's sort of like last call at the bar," Davidson said. "People have to start to look what the world is going to look like without being awash in liquidity."

The dollar fell against the euro, while gold rose.

Crude oil rose 98 cents to $72.87 per barrel on the New York Mercantile Exchange.

Stephen A. Lieber, chief investment officer at Alpine Woods Capital Investors LLC in Purchase, N.Y., said the market's response to reports that other EU countries will throw Greece a life preserver illustrate that investors are hungry for reassurances from policymakers.

"People are scared that the entire delicate reconstruction of the system, which has been going on for two years, might be shattered," he said. "If the leaders are riding to the rescue then the market will feel renewed confidence."

Caterpillar was the biggest gainer among the 30 stocks that make up the Dow. The stock rose $3.14, or 6.2 percent, to $53.92.

Coca-Cola Co. reported fourth-quarter profit that matched analysts expectations. Its revenue topped forecasts as sales rose globally. Coca-Cola rose $1.78, or 3.4 percent, to $54.43.

Four stocks rose for every one that fell on the New York Stock Exchange, where volume came to 960.2 million shares compared with 766.3 million shares traded at the same point Monday.

The Russell 2000 index of smaller companies rose 9.23, or 1.6 percent, to 595.72.

Britain's FTSE 100 rose 0.4 percent, Germany's DAX index and France's CAC-40 each rose 0.2 percent. Earlier, Japan's Nikkei stock average fell 0.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Continued speculation about loan guarantees for Greece and Fed Chairman Bernanke's hint at a rate hike kept the dollar in focus this session. Its advance took stocks lower, save financials. 

The Dollar Index spent the entire session in positive territory as newswires were filled with conflicting reports about whether Germany will lead a bailout for Greece and other European countries currently in need. Its strength grew as Fed Chairman Bernanke's prepared remarks about how the Fed may opt to raise the discount rate before long made the rounds. The greenback had been up as much as 0.7% against competing currencies, but eased back a bit to settle with a 0.4% gain. 

The stock market managed to steady itself after hearing Federal Reserve Chairman Ben Bernanke's plans to dismantle the central bank's supports for the economy.

The Dow Jones industrial average closed with a loss of 20 points Wednesday after falling nearly 100 in early trading. Treasury prices fell as demand for safe havens eased.

Bernanke revealed the Fed's thinking on how to wean the market from emergency measures put in place to keep the economy afloat. He said the Fed will likely start tightening credit by boosting the interest rate it pays banks on deposits with the central bank.

*The NYSE DOW closed LOWER -20.26 points -0.20% on Wednesday February 10*
Sym. Last......... ........Change.......... 
Dow 10,038.38 -20.26 -0.20% 
Nasdaq 2,147.87 -3.00 -0.14% 
S&P 500 1,068.13 -2.39 -0.22% 
30-yr Bond 4.6360% +0.6800 

NYSE Volume 4,982,941,500 (prior day  6,120,557,500)
Nasdaq Volume 2,039,927,880  (prior day 2,067,552,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,131.99 +20.15 +0.39% 
DAX 5,536.37 +38.11 +0.69% 
CAC 40 4,012.91 -1.06 -0.03% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,963.99 +31.09 +0.31%  
Hang Seng 19,922.22 +131.94 +0.67%  
Straits Times 2,734.39 -10.63 -0.39% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks stall as Bernanke signals end of stimulus

Bernanke reminds market cheap borrowing will end; Fed chief lays out plan for ending supports*
By Stephen Bernard and Tim Paradis, AP Business Writers , On Wednesday February 10, 2010, 5:51 pm 

NEW YORK (AP) -- The stock market managed to steady itself after hearing Federal Reserve Chairman Ben Bernanke's plans to dismantle the central bank's supports for the economy.

The Dow Jones industrial average closed with a loss of 20 points Wednesday after falling nearly 100 in early trading. Treasury prices fell as demand for safe havens eased.

Bernanke revealed the Fed's thinking on how to wean the market from emergency measures put in place to keep the economy afloat. He said the Fed will likely start tightening credit by boosting the interest rate it pays banks on deposits with the central bank.

The talk of a smaller role for the Fed in U.S. markets came as investors looked for the opposite overseas. Investors are hoping European Union countries will extend a bailout to Greece. The country is facing big budget gaps. There is concern that financial woes in Greece as well as in Portugal, Ireland and Spain could spread and threaten a global economic recovery.

"We're in a messy transition period," said Paul Ballew, chief economist at Nationwide Insurance in Columbus, Ohio. "While you see policymakers back off in some areas you're going to continue to see them intervene in other areas."

Officials said the EU member nations have made no decisions about how to help Greece. A gathering of EU officials is scheduled for Thursday.

The European debt problems have added to a series of economic problems that have stalled a 10-month advance in stocks. Investors have also been concerned about China's plans to curtail economic growth to avoid speculative bubbles. And they're uneasy about political matters, including President Barack Obama's calls to restrict trading at large financial institutions.

The prospect of a more restrained Fed shook the markets at first, although it wasn't a surprise.

Bernanke said in a statement the Fed likely will begin tightening credit by raising the interest rate it pays to banks on the money they have deposited at the Fed. That would lead to an increase in borrowing rates for consumers and businesses. The Fed chief said the central bank is not yet ready to boost interest rates, which stand at record lows.

Craig Kaufman, co-founder and head of capital markets at Kaufman Bros. L.P. in New York, said the Fed's plan is reasonable and didn't represent a shift in policy.

"We're sort of in this fake world and we need to show that we're moving back to a normalized process," Kaufman said, referring to the record-low interest rates.

The Dow fell 20.26, or 0.2 percent, to 10,038.38 a day after jumping 150 points as hope of a Greece bailout grew.

The broader Standard & Poor's 500 index fell 2.39, or 0.2 percent, to 1,068.13, while Nasdaq composite index fell 3.00, or 0.1 percent, to 2,147.87.

Bond prices slid for a second day after an auction of 10-year Treasury notes brought only modest demand. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.69 percent from 3.65 percent late Tuesday.

The dollar rose against most other currencies. Gold slid.

Crude oil rose 77 cents to $74.52 per barrel on the New York Mercantile Exchange.

Financial stocks rose after Legg Mason Inc. said its assets under management are higher than last year. The stock rose $1.37, or 5.5 percent, to $26.45.

Among companies reporting earnings, Dean Foods Co. fell $2.45, or 13.9 percent, to $15.19, after the dairy company said higher operating costs hurt its fourth-quarter results. The company's profit forecasts also fell short of analysts' expectations.

Shares of The Walt Disney Co. edged up 19 cents to $30.03 after the company's fiscal first-quarter earnings were about the same as a year earlier but above what analysts had predicted.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where volume came to 1 billion shares, compared with 1.2 billion Tuesday. Analysts said volume was light in part because heavy snow along the East Coast kept some traders out of the market.

The Russell 2000 index of smaller companies rose 0.65, or 0.1 percent, to 595.82.

Britain's FTSE 100 rose 0.4 percent, Germany's DAX index gained 0.7 percent, and France's CAC-40 climbed 0.6 percent. Japan's Nikkei stock average rose 0.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Participants continue to take their cues from the dollar, which surrendered a strong gain against a basket of foreign currencies to give both stocks and commodities a broad-based lift. 

Stocks actually started the session on weak footing as the Dollar Index made its way from a moderate loss to a healthy gain. The move led many to dismiss a relatively pleasing weekly jobless claims report, which featured a larger-than-expected decline in initial jobless claims to 440,000 and a continuing claims tally of 4.54 million -- a one-year low. 

Relief about Europe's pledge to support Greece sent the stock market charging higher Thursday.

The Dow Jones industrial average jumped 106 points as confidence grew that aid to Greece would extinguish one of the several threats that investors see to an economic recovery.

The market's advance was broad-based, but energy and materials stocks logged some of the biggest gains after oil prices rose for a fourth day. A tame report on inflation in China suggested the country wouldn't have to move more aggressively to slow its economy.

*The NYSE DOW closed HIGHER +105.81  points +1.05% on Wednesday February 11*
Sym. Last......... ........Change.......... 
Dow 10,144.19 +105.81 +1.05% 
Nasdaq 2,177.41 +29.54 +1.38% 
S&P 500 1,078.47 +10.34 +0.97% 
30-yr Bond 4.6790% +0.4300 

NYSE Volume 5,165,277,500  (prior day 4,982,941,500)
Nasdaq Volume 2,149,687,250  (prior day 2,039,927,880)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,161.48 +29.49 +0.57% 
DAX 5,503.93 -32.44 -0.59% 
CAC 40 4,012.91 -1.06 -0.03% 


*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,963.99 +31.09 +0.31%  
Hang Seng 20,290.69 +368.47 +1.85%  
Straits Times 2,753.63 +19.24 +0.70% 

http://finance.yahoo.com/news/Stocks-climb-after-EU-pledges-apf-2042586982.html?x=0

*Stocks climb after EU pledges support for Greece

Stocks rise after EU officials offer support for Greece; First-time jobless claims fall*

By Tim Paradis, AP Business Writer , On Thursday February 11, 2010, 5:47 pm 

NEW YORK (AP) -- Relief about Europe's pledge to support Greece sent the stock market charging higher Thursday.

The Dow Jones industrial average jumped 106 points as confidence grew that aid to Greece would extinguish one of the several threats that investors see to an economic recovery.

The market's advance was broad-based, but energy and materials stocks logged some of the biggest gains after oil prices rose for a fourth day. A tame report on inflation in China suggested the country wouldn't have to move more aggressively to slow its economy.

China's rapid economic expansion has been driving up demand for natural resources, and the benign signal on inflation there sent shares of materials companies higher. Oil and gas company Pioneer Natural Resources Co. and metals producer Freeport-McMoRan Copper & Gold Inc. each rose more than 4 percent.

A drop in the dollar also helped to lift commodity prices, which are priced in dollars and become less expensive to foreign buyers when the dollar falls.

Encouraging news about jobs in the U.S. also supported the stock market. The Labor Department said first-time claims for jobless benefits fell more than expected last week. Economists say a lasting economic recovery can't take hold without big gains in jobs.

Analysts warned that a patch to Greece's finances won't necessarily be enough to restart a 10-month rally in stocks that stalled last month. Questions are still looming over the market about how the U.S. economy will fare after the government starts to unwind the supports it used to stabilize the financial system over the past two years.

Stephen Wood, chief market strategist at Russell Investments, predicts that financial problems will continue to sideswipe the market.

"Stories similar to Greece are not going to let up for a while," Wood said.

Concerns about China's efforts to slow its rapid economic growth and questions about proposed regulatory changes in Washington for banks are still weighing on the market. The benchmark Standard & Poor's 500 index is down 6.2 percent from a 15-month high in mid-January.

Fed Chairman Ben Bernanke on Wednesday outlined plans to begin to wean the economy from government aid. The market initially took the news poorly but then recovered later in the day as many analysts viewed the plans as a logical next step for policymakers.

"What has really stood out is how negative sentiment has gotten and how quickly it got there. To me, it suggests a pretty skittish market," said Max Bublitz, chief strategist at SCM Advisors in San Francisco.

Still, the brightening prospects for Greece managed to give stocks a bounce. Expectations had been building that a Thursday summit of European leaders would produce a solution for the problem. EU leaders said they would take steps to guard financial stability in Europe but did not offer details.

The Dow rose 105.81, or 1.1 percent, to 10,144.19, its highest close in more than a week. The S&P 500 index rose 10.34, or 1 percent, to 1,078.47. The Nasdaq composite index rose 29.54, or 1.4 percent, to 2,177.41.

Bond prices were mixed following weak demand at a government auction of 30-year Treasury notes. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.73 percent from 3.69 percent late Wednesday.

Crude oil climbed 76 cents to $75.28 per barrel on the New York Mercantile Exchange. Gold also rose.

Fred Fraenkel, chairman of investment policy Beacon Trust Company in Madison, N.J., said the concerns about Greece and countries like Portugal, Spain and Ireland are overblown. He contends that traders were simply nervous that the market had been rising too fast and wanted a pause.

"It's pretty normal that people come up with lots of things to worry about," Fraenkel said. "None of the things are new. They're all pretty much things we've been watching unfold for the last year."

The Labor Department said the number of newly laid-off workers seeking unemployment benefits fell by 43,000 to a seasonally adjusted 440,000, the lowest level in a month. Economists polled by Thomson Reuters had expected a more modest drop.

The decrease came after claims rose in four of the previous five weeks. The recent rise in claims raised questions about whether an economic recovery would be sustainable. High unemployment is one of the biggest obstacles to a rebound.

Economic news from China signaled that inflation eased in January. Consumer prices rose 1.5 percent, less than in December. The report brought speculation that China wouldn't have to slow its economy as a way to fight inflation. Reduced growth would cut into demand for foreign goods and materials.

Among stocks, Pioneer Natural Resources rose $1.96, or 4.3 percent, to $47.33, while Freeport McMoran rose $3.14, or 4.4 percent, to $74.17.

Energy stocks also gained after a buyout in the industry. Utility company FirstEnergy is acquiring rival power provider Allegheny Energy for about $4.7 billion in stock. It will also assume about $3.8 billion in debt.

Allegheny jumped $2.53, or 12 percent, to $23.55, while FirstEnergy fell $1.87, or 4.5 percent, to $39.59.

Three stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.1 billion shares compared with 1 billion Wednesday.

The Russell 2000 index of smaller companies rose 9.64, or 1.6 percent, to 605.46.

Britain's FTSE 100 rose 0.6 percent, Germany's DAX index fell 0.6 percent, and France's CAC-40 lost 0.5 percent. Japanese markets were closed for a holiday.


----------



## bigdog

Source: http://finance.yahoo.com

For the week, the Dow and the S&P 500 index each rose 0.9 percent while the Nasdaq jumped 2 percent.

*U.S. markets are closed Monday for President's Day.*

Leadership from the tech sector helped stocks trim steep losses that stemmed from a stronger dollar. 

The stock market gapped down in the early going to trade with a loss of more than 1% as the Dollar Index climbed to a near 1% gain amid a sharp decline in the euro, which was weakened by a weaker-than-expected fourth quarter eurozone GDP reading. Meanwhile, pledged support for Greece from the International Monetary Fund (IMF) and the European Central Bank failed to support the euro.

Industrial stocks stumbled Friday after China said it would take more steps to keep its economy from growing too fast.

Regulators in China are trying to keep the nation's rapid economic growth from getting out of hand. But investors worry that a slowdown in China could disrupt a U.S. recovery by hurting exports and profits of companies that do business there.

The Dow Jones industrial average closed down 45 points but had been down as much as 160 points after China said its banks would have to hold on to more cash. That cuts down on how much they can lend.

*The NYSE DOW closed LOWER -45.05 points -0.44% on Friday February 12*
Sym. Last......... ........Change.......... 
Dow 10,099.14 -45.05 -0.44% 
Nasdaq 2,183.53 +6.12 +0.28% 
S&P 500 1,075.51 -2.96 -0.27% 
30-yr Bond 4.6570% -0.2200 

NYSE Volume 5,329,030,500  (prior day 5,165,277,500)
Nasdaq Volume 2,236,217,250  (prior day 2,149,687,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,142.45 -19.03 -0.37% 
DAX 5,500.39 -3.54 -0.06% 
CAC 40 4,012.91 -1.06 -0.03% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,092.19 +128.20 +1.29% 
Hang Seng 20,268.69 -22.00 -0.11% 
Straits Times 0.00 0.00 0.00% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks end mixed after China slows lending again

Stocks finish mixed after China curbs bank lending to slow its economy; Dow falls 45 points*

By Stephen Bernard and Tim Paradis, AP Business Writers , On Friday February 12, 2010, 4:56 pm EST 
NEW YORK (AP) -- Industrial stocks stumbled Friday after China said it would take more steps to keep its economy from growing too fast.

Regulators in China are trying to keep the nation's rapid economic growth from getting out of hand. But investors worry that a slowdown in China could disrupt a U.S. recovery by hurting exports and profits of companies that do business there.

The Dow Jones industrial average closed down 45 points but had been down as much as 160 points after China said its banks would have to hold on to more cash. That cuts down on how much they can lend.

Stocks ended mixed but the Dow and other major indexes posted gains for the week, their first after four losing weeks.

The surprise announcement out of China came a day after a tame inflation report there raised hopes that the country wouldn't have to do more to put the brakes on its supercharged economy. The market pulled off of its lows as the day went on as traders saw merit in China's policy of keeping its growth under control.

China's move to curtail lending was only the latest development to rattle traders. The stock market has fallen from 15-month highs in the past four weeks as traders recoil from policy fights in Washington and from economic problems popping up in Europe such as Greece's debt crisis.

Just the whiff of a slowdown in China was enough to batter shares of industrial companies and materials producers. The reasons are twofold: A slower-growing Chinese economy would mean weaker demand for industrial goods like metals and jet engines. Also, a jump in the dollar and the corresponding weakness in commodities prices that resulted hurt companies that rely on oil, copper and other basic materials to make money.

Aluminum producer Alcoa, airplane maker Boeing and General Electric each fell more than 1 percent. All three are among the 30 stocks that make up the Dow Jones industrials.

Richard C. Kang, chief investment officer and director of research at Emerging Global Advisors in Ridgewood, N.J., said big U.S. companies now look to developing markets like China for a growing part of their sales so the strength of foreign economies is crucial.

"Every investor always thought 'China builds, Wal-Mart sells. End of story,'" Kang said. "If you look at the U.S. and who they export to, China is very quickly going up that list."

A similar action to curb bank lending nearly a month ago in China spooked the market and helped start a slide that has brought major indexes down for four straight weeks. In afternoon trading, the Dow was above 10,000 but barely in the black for the week.

Concerns about debt problems in Greece as well as Portugal, Ireland and Spain hurt stocks during the week. On Thursday, European Union leaders pledged to provide Greece with support. There has been worry that debt problems there could spread and destabilize Europe's common currency, the euro.

According to preliminary calculations, the Dow fell 45.05, or 0.4 percent, to 10,099.14. The Standard & Poor's 500 index dropped 2.96, or 0.3 percent, to 1,075.51, while the Nasdaq composite index rose 6.12, or 0.3 percent, to 2,183.53.

For the week, the Dow and the S&P 500 index each rose 0.9 percent while the Nasdaq jumped 2 percent.

U.S. markets are closed Monday for President's Day.

The slide Friday follows a strong performance a day earlier after European leaders said they would help Greece with its debt problems.

Barbara Marcin, manager at the Gabelli Blue Chip Value Fund in Rye, N.Y., said investors have been skittish in the past month because the financial crisis made clear that problems in one market can leap to others. In 2007, problems with bad home loans in the U.S. began hurting investors overseas who held the mortgages.

"A disruption in one financial market can lead to other areas that were previously unconnected," she said.

With investors pulling out of riskier assets like stocks and commodities, safe-haven investments like Treasurys and the dollar rose.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.70 percent from 3.73 percent late Thursday.

The stronger dollar hurt commodity prices, which are priced in dollars and become more expensive for foreign buyers when the dollar rises.

Crude oil fell $1.15 to $74.13 per barrel on the New York Mercantile Exchange after four days of gains.

The concern about China mainly overshadowed a Commerce Department report that retail sales grew more than expected in January. Retail sales rose 0.5 percent last month, more than the 0.3 percent expected by economists polled by Thomson Reuters. The report was the best showing since November.

Some of the swings in stocks Friday came as Warren Buffett's Berkshire Hathaway Inc. was added to the S&P 500 index. Funds that mirror the composition of the index had to buy the stock, which was added to the index at the end of the day.

Alcoa Inc. fell 30 cents, or 2.2 percent, to $13.28, while Boeing Co. dropped 94 cents, or 1.6 percent, to $59.65. General Electric Co. slipped 22 cents, or 1.4 percent, to $15.55.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where volume came to 1.4 billion shares compared with 1.1 billion Thursday.

The Russell 2000 index of smaller companies rose 5.26, or 0.9 percent, to 610.72.

Overseas, Britain's FTSE 100 fell 0.4 percent, Germany's DAX index lost 0.1 percent, and France's CAC-40 fell 0.5 percent. Japan's Nikkei stock average rose 1.3 percent.

2989


----------



## bigdog

Source: http://finance.yahoo.com

*U.S. markets were closed Monday February 15 for President's Day.*

*The NYSE DOW closed LOWER -45.05 points -0.44% on Friday February 12*
Sym. Last......... ........Change.......... 
Dow 10,099.14 -45.05 -0.44% 
Nasdaq 2,183.53 +6.12 +0.28% 
S&P 500 1,075.51 -2.96 -0.27% 
30-yr Bond 4.6570% -0.2200 

NYSE Volume 5,329,030,500 (prior day 5,165,277,500)
Nasdaq Volume 2,236,217,250 (prior day 2,149,687,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,167.47 +25.02 +0.49% 
DAX 5,511.10 +10.71 +0.19% 
CAC 40 3,609.22 +10.15 +0.28% 


*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,013.30 -78.89 -0.78%  
Hang Seng 20,268.69 holiday Monday Feb 15  
Straits Times 2,758.90  holiday Monday Feb 15

http://finance.yahoo.com/news/European-markets-edge-up-apf-2483718261.html?x=0

*European markets edge up despite Greek debt fears

European stocks edge higher despite ongoing Greek debt fears as euro ministers prepare to meet*

By Pan Pylas, AP Business Writer , On Monday February 15, 2010, 12:09 pm EST 

LONDON (AP) -- European stock markets won some respite Monday ahead of a meeting of eurozone finance ministers in Brussels, where the Greek debt crisis will inevitably top the agenda. Public holidays in Asia as well as the U.S. have kept volumes low.

The FTSE 100 index of leading British shares closed up 25.02 points, or 0.5 percent, at 5,167.47 while Germany's DAX rose 10.71 points, or 0.2 percent, at 5,511.10. The CAC-40 in France was 11.27 points, or 0.3 percent, higher at 3,610.34.

And with Wall Street closed Monday for the Presidents Day holiday, investors held back from launching a new attack on the euro, which remained steady over the day around the $1.36 mark. Last week, at the height of the Greek fiscal concerns, the euro had slid to a nine-month low of $1.3533, way down on December's high above $1.50.

The main point of interest in the markets continues to be the debt problems afflicting Greece, as finance ministers from the 16 euro countries gather in the wake of last Thursday's meeting of EU leaders. On Tuesday, the finance ministers of the full 27-nation European Union meet.

Though EU leaders gave Greece some vocal support, no money or guarantee was offered, primarily because Germany was not willing to stump up cash as that could undermine German bonds and put further pressure on the euro.

Instead, all agreed that Greece's progress in bringing down its budget deficit will be closely monitored and it would not be allowed to threaten the eurozone. Markets interpreted the latter comment as an implicit guarantee that eurozone policymakers will help the country if its own efforts fail.

An ensuing narrowing in spreads between German and Greek bonds -- a sign that the markets think a Greek default is becoming less likely -- and a more steady tone to the euro have diminished expectations that anything substantially new will emerge later.

Frederik Ducrozet, eurozone economist at Credit Agricole, said last Thursday's EU statement was interpreted as a "major commitment" to support Greece to avoid possible contagion risks to other countries like Portugal and Spain.

Greece's finance minister George Papaconstantinou said Monday that a detailed rescue plan from other eurozone nations would be the best way to soothe market fears that Greece could default on debt payments.

"My guess is that what will stop markets attacking Greece at the moment is a further more explicit message that makes operational what has been decided last Thursday," he said.

Dubai is also a growing market concern amid fears that the highly indebted emirate may repay creditors less than the amounts due -- it was November's debt postponement from Dubai World, a government investment company with around $59 billion in debts, that stoked the markets' concerns about overborrowed countries.

Dubai's stock market fell sharply while the cost of insuring against the emirate's debts edged back up.

"The theme of sovereign debt risk is likely to remain on investors' agenda as fresh rumblings in Dubai make clear," said Neil Mackinnon, global macro strategist at VTB Capital.

Earlier, much of Asia was closed for the Lunar New Year holiday, including Hong Kong, Shanghai, Singapore and Seoul.

However, Japanese and Australian markets fell as investors reacted to China's move late Friday to curtail bank lending to cool off strong growth there.

Better-than-expected Japanese fourth quarter economic growth figures failed to lift Tokyo's benchmark Nikkei 225 index, which slid 78.89 points, or 0.8 percent, to close at 10,013.30. Analysts said that the monetary tightening in China -- the second such move in a month -- and uncertainty about the economic outlook in coming quarters weighed on sentiment.

Japan's gross domestic product grew at an annual pace of 4.6 percent in the October-December period, keeping Japan just ahead of China as the world's No. 2 economy. Japan's nominal GDP for the 2009 calendar year came to about $5.1 trillion, ahead of China's $4.9 trillion.

Australia's benchmark S&P/ASX200 fell 16.6 points, or 0.4 percent, to 4,545.5.

Wall Street is closed for the Presidents Day holiday.

Elsewhere, oil prices were flat, with benchmark crude for March delivery down 18 cents to $73.95 a barrel


----------



## bigdog

Source: http://finance.yahoo.com

Stocks finished at session highs in their best single-session percentage advance in three months as buyers returned from an extended weekend to offer stocks broad-based support. 

Nearly 95% of the names in the S&P 500 booked gains this session, but the strongest moves were made by energy plays, which advanced a collective 2.7%. The move was helped by a 3.9% spike in crude oil prices, which settled pit trade at $77.01 per barrel.

Signs that the economy is indeed strengthening gave investors a surge of optimism and sent stocks sharply higher.

The Dow Jones industrials soared almost 170 points Tuesday on upbeat earnings reports and corporate deals. Investors who have been anxious in recent weeks about economic problems overseas were able to put aside their concerns for the time being. They focused instead on the domestic economy.

The dollar fell as investors felt less of a need to stash their money in safer investments. Oil, gold and other commodities joined stocks as the beneficiaries of the market's renewed confidence. And the stocks of energy and materials producers were among the day's big winners.

*The NYSE DOW closed HIGHER +169.67 points +1.68% on Tuesday February 16*
Sym. Last......... ........Change.......... 
Dow 10,268.81 +169.67 +1.68% 
Nasdaq 2,214.19 +30.66 +1.40% 
S&P 500 1,094.87 +19.36 +1.80% 
30-yr Bond 4.6390% -0.1800 

NYSE Volume 4,763,407,500  (prior day 5,329,030,500)
Nasdaq Volume 2,008,953,880  (prior day 2,236,217,250)


*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,244.06 +76.59 +1.48% 
DAX 5,592.12 +81.02 +1.47% 
CAC 40 4,012.91 -1.06 -0.03% 


*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,034.25 +20.95 +0.21%  
Hang Seng 20,268.69  holiday Feb 16  
Straits Times 2,758.90  holiday Feb 16 

Markets in Shanghai, Hong Kong, Taiwan, Singapore and Malaysia were closed for Lunar New Year holidays.

http://finance.yahoo.com/news/Stocks-gain-on-earnings-deals-apf-1308889964.html?x=0

*Stocks gain on earnings, deals and hope for Greece

Stocks rise on hopeful signs for US economy; Kraft, Merck profits rise*

By Stephen Bernard, AP Business Writer , On Tuesday February 16, 2010, 4:58 pm 
NEW YORK (AP) -- Signs that the economy is indeed strengthening gave investors a surge of optimism and sent stocks sharply higher.

The Dow Jones industrials soared almost 170 points Tuesday on upbeat earnings reports and corporate deals. Investors who have been anxious in recent weeks about economic problems overseas were able to put aside their concerns for the time being. They focused instead on the domestic economy.

The dollar fell as investors felt less of a need to stash their money in safer investments. Oil, gold and other commodities joined stocks as the beneficiaries of the market's renewed confidence. And the stocks of energy and materials producers were among the day's big winners.

European markets also rose following new plans by European Union leaders to push Greece to get its budget under control. European officials gave Greece one month to prove it can cut its deficits. Debt problems in European countries including Greece, Portugal and Spain have been a major factor behind weakness in global stock markets in recent weeks.

A strong earnings report from Barclays, a major European bank, also gave the market some relie. European banks have been slower to recover than their U.S. counterparts, and investors saw the bounceback at Barclays as an encouraging sign.

In the U.S., Kraft Foods Inc. and apparel retailer Abercrombie & Fitch reported earnings that beat expectations, while drugmaker Merck & Co. said profits jumped after the company bought its longtime partner Schering-Plough Corp.

Earnings reports over the past month have mostly come in better than expected, but problems in the global economy have overshadowed that good news and pushed the market lower.

"Earnings have been good, but pushed to the back seat," behind Europe's problems, said Alan B. Lancz, president of Alan B. Lancz & Associates in Toledo, Ohio. The strong reports Tuesday "superseded some of these worries."

Meanwhile a bold acquisition move by the nation's largest mall owner raised hopes that businesses are feeling more confident about the economy.

Simon Property Group has offered to acquire its ailing rival, General Growth Properties, for $10 billion. General Growth, the No. 2 mall operator, filed for bankruptcy protection last year.

According to preliminary calculations, the Dow rose 169.67, or 1.7 percent, to 10,268.81. The Standard & Poor's 500 index rose 19.36, or 1.8 percent, to 1,094.87, while the Nasdaq composite index rose 30.66, or 1.4 percent, to 2,214.19.

About five stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.08 billion shares.

In other deal news, JPMorgan Chase & Co. said it was buying RBS Sempra Commodities' global oil, global metals and European power and gas assets in a deal worth about $1.7 billion. The move nearly doubles JPMorgan's corporate client base for commodities.

Economic reports throughout the holiday-shortened week will also provide insight into the economy. Market were closed Monday for President's Day.

A report on manufacturing in the New York area was stronger than expected. The Empire State manufacturing index rose to 24.91 this month, compared with a forecast of 18, according to economists polled by Thomson Reuters. The index was 15.92 last month.

Reports on housing starts, jobless claims and inflation are due out later this week.

Merck rose 74 cents, or 2 percent, to $37.66. In addition to its earnings results Merck also announced details of the combined company's restructuring plans, the first phase of which expected to bring annual savings of up to $3 billion in 2012.

Barclays' New York-listed shares jumped $2.35, or 13 percent, to $19.03.

Simon Property rose $2.82 or 3.9 percent to $74.82 after announcing its hostile offer for General Growth. General Growth's best known centers include the Glendale Galleria in Southern California and the South Street Seaport in Manhattan.

Simon Property's bold move "sends a signal that the economy might be doing better," said Giri Cherukuri, a portfolio manager and head trader at OakBrook Investments in Lisle, Ill. The Simon Property deal is especially positive because it shows mall operators are upbeat about the retail industry and employment.

Bond prices edged higher as concerns about the Greek debt crisis began to wane. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.67 percent from 3.70 percent late Friday.

The dollar fell. Crude oil jumped $2.88 or 4 percent to settle at $77.01 a barrel.

The Russell 2000 index of smaller companies rose 10.12, or 1.7 percent, to 620.84.

Overseas, Britain's FTSE 100 rose 1.5 percent, Germany's DAX index gained 1.7 percent, and France's CAC-40 rose 1.7 percent. Japan's Nikkei stock average rose 0.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Action this session was choppy and trade was both listless and thin, but stocks still put together a broad-based gain in the face of a strong rebound by the dollar. 

A stream of good news has the stock market back on an upward path.

Encouraging corporate and economic reports Wednesday added to hopes that a recovery is taking hold even as big concerns remain about unemployment and bursting budgets in countries like Greece.

Deere & Co. and Whole Foods Market Inc. jumped after their profit reports topped expectations and the companies raised their forecasts. Improved reports on home construction and production at factories also helped pull the market higher.

*The NYSE DOW closed HIGHER +40.43 points +0.39% on Wednesday February 17*
Sym. Last......... ........Change.......... 
Dow 10,309.24 +40.43 +0.39% 
Nasdaq 2,226.29 +12.10 +0.55% 
S&P 500 1,099.51 +4.64 +0.42% 
30-yr Bond 4.7140% +0.7500 

NYSE Volume 4,837,346,000  (prior day 4,763,407,500)
Nasdaq Volume 2,061,092,880 (prior day  2,008,953,880)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,276.64 +32.58 +0.62% 
DAX 5,648.34 +56.22 +1.01% 
CAC 40 3,725.21 +56.17 +1.53% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,306.83 +272.58 +2.72%  
Hang Seng 20,534.01 +265.32 +1.31%  
Straits Times 2,794.06 +35.16 +1.27% 

http://finance.yahoo.com/news/Stocks-climb-on-upbeat-apf-1238480470.html?x=0

*Stocks climb on upbeat earnings, economic reports

Stocks climb after upbeat earnings from Deere, stronger housing numbers boost recovery hopes*

By Tim Paradis, AP Business Writer , On Wednesday February 17, 2010, 4:45 pm 
NEW YORK (AP) -- A stream of good news has the stock market back on an upward path.

Encouraging corporate and economic reports Wednesday added to hopes that a recovery is taking hold even as big concerns remain about unemployment and bursting budgets in countries like Greece.

Deere & Co. and Whole Foods Market Inc. jumped after their profit reports topped expectations and the companies raised their forecasts. Improved reports on home construction and production at factories also helped pull the market higher.

The Dow Jones industrial average rose 40 points a day after it jumped 170 following a stronger manufacturing figures. Treasury prices fell as demand for safe havens eased.

Investors could get more insight into the economy Thursday from Wal-Mart Stores Inc. and Goodyear Tire & Rubber Co., which are scheduled to report earnings.

Stocks had fallen in recent weeks on overseas concerns, including Greece's debt crisis and moves by China to keep its economy from growing too fast. The concerns remain but traders have been able to turn attention to the domestic economy.

The Commerce Department said construction of homes and apartments rose to an annual rate of 591,000 in January, better than the 580,000 units forecast by economists polled by Thomson Reuters.

A collapse of the housing market helped push the economy into recession, but recent reports have suggested the market is stabilizing. Applications for building permits, a barometer of future activity, fell 4.9 percent. A drop was expected after two months of big growth.

The Federal Reserve, meanwhile, said production at the nation's factories, mines and utilities rose 0.9 percent last month. It was the seventh straight month of growth and better than the 0.6 percent gain forecast by economists.

Investors also drew reassurance from a brighter assessment of the economy from the Fed. Minutes released from the central bank's last meeting suggest that policymakers remain cautious but that they expect stubborn unemployment rates will begin to fall next year.

Even with two days of gains, concerns remain. Ken Kamen, president of Mercadien Asset Management in Hamilton, N.J., said there is still an underlying sense of unease in the market despite the gains of the past two days.

"From day to day there's no one boogeyman or no one exciting thing," Kamen said. "People age getting neck strain spinning their head from side to side looking at all the different pieces of information."

According to preliminary calculations, the Dow rose 40.43, or 0.4 percent, to 10,309.24. The Standard & Poor's 500 index rose 4.64, or 0.4 percent, to 1,099.51, while the Nasdaq composite index rose 12.10, or 0.6 percent, to 2,226.29.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.75 percent from 3.66 percent late Tuesday.

The dollar rose against most other major currencies. Gold prices fell.

Crude oil rose 32 cents to $77.33 per barrel on the New York Mercantile Exchange.

Randy Frederick, director of trading and derivatives at Charles Schwab, contends that with the big gains Tuesday the market is back in balance after its slide over the past month. The S&P 500 index fell 9.2 percent from mid-January to the start of last week.

"I wouldn't be surprised to just see some sideways movement here and maybe small increases over the next week or two," he said.

Frederick said the level of the Chicago Board Options Exchange's Volatility Index, which is known as the market's fear gauge, shows a healthy caution in the market after the index got too low in January. An increase in the VIX signals that investors are prepared for swings in the market. The VIX stands at 21.8 compared with 17.6 in early January.

In corporate news, Deere reported stronger fiscal first-quarter earnings than expected and raised its full-year earnings forecast. Shares of the heavy equipment maker rose $2.70, or 5 percent, to $56.48.

Whole Foods rose $3.83, or 13 percent, to $34.35 after the grocer posted a 79 percent gain in its first-quarter earnings and it boosted its forecast for the year.

Walgreen Co. said it will purchase New York-area drugstore operator Duane Reade for about $623 million in cash. Including $457 million in debt held by Duane Reade, the entire transaction is valued at $1.08 billion. Shares of Walgreen rose 11 cents to $34.19.

The jump in stocks Tuesday came after better-than-expected earnings from companies like Barclays PLC, Merck & Co. and Abercrombie & Fitch provided reassurances that the economy is improving. Simon Property Group's takeover bid of rival mall operator General Growth Properties also indicated companies are becoming more confident.

Two stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1 billion shares compared with 1.1 billion Tuesday.

The Russell 2000 index of smaller companies rose 3.99, or 0.6 percent, to 624.83.

Britain's FTSE 100 rose 0.6 percent, Germany's DAX index rose 1 percent, and France's CAC-40 jumped 1.5 percent. Japan's Nikkei stock average rose 2.7 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Broad-based buying helped both the Dow and the Nasdaq Composite close above their 50-day moving averages for the first time in almost one month, but the S&P 500 was met with resistance as it encountered the technical hurdle. Nonetheless, stocks still booked their third straight gain. 

Stocks chopped along in a tight trading range for the first part of the session as participants tried to take their cues from fluctuations in the dollar. Relative to a basket of foreign currencies, the greenback oscillated between a gain of 0.4% and a loss of 0.2% before it settled with a fractional loss.

An increase in regional manufacturing pushed the stock market to its third straight advance and offset concerns about lower sales at Wal-Mart.

The Dow Jones industrial average rose 84 points, bringing its gains for the week to nearly 300 points.

Treasury prices fell as improvements in some economic reports eased demand for safe havens.

*The NYSE DOW closed HIGHER +83.66 points +0.81% on Thursday February 18*
Sym. Last......... ........Change.......... 
Dow 10,392.90 +83.66 +0.81% 
Nasdaq 2,241.71 +15.42 +0.69% 
S&P 500 1,106.75 +7.24 +0.66% 
30-yr Bond 4.7520% +0.3800 

NYSE Volume 4,480,362,500  (prior day 4,837,346,000)
Nasdaq Volume 2,049,014,120 (prior day  2,061,092,880)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,325.09 +48.45 +0.92% 
DAX 5,680.41 +32.07 +0.57% 
CAC 40 3,747.83 +22.62 +0.61% 


*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,335.69 +28.86 +0.28%  
Hang Seng 20,422.15 -111.86 -0.54%  
Straits Times 2,769.19 -24.87 -0.89%

http://finance.yahoo.com/news/Stronger-manufacturing-report-apf-3803927760.html?x=0

*Stronger manufacturing report lifts stock market

Stocks extend climb on stronger manufacturing report; Traders look past weakness at Wal-Mart*

By Stephen Bernard and Tim Paradis, AP Business Writers , On Thursday February 18, 2010, 4:39 pm 

NEW YORK (AP) -- An increase in regional manufacturing pushed the stock market to its third straight advance and offset concerns about lower sales at Wal-Mart.

The Dow Jones industrial average rose 84 points, bringing its gains for the week to nearly 300 points.

Treasury prices fell as improvements in some economic reports eased demand for safe havens.

The Philadelphia Federal Reserve said its index of regional manufacturing rose to 17.6 in February from 15.2 in January. That follows reports the past two days that also pointed to a pickup in business at the nation's factories.

The report lifted stocks of companies that process raw materials because increased manufacturing should boost sales. Newmont Mining Corp. and glass maker Owens-Illinois Inc. each rose more than 2 percent.

The market drifted higher in light trading volume so analysts cautioned against reading too much in to the latest gain. Light volume indicates that many investors with concerns about the market are staying on the sidelines.

The market's gains were modest in the early hours of trading after Wal-Mart Stores Inc.'s reported a drop in quarterly sales at its flagship U.S. stores and issued a disappointing forecast.

At the same time, the Labor Department reported that the number of workers seeking unemployment benefits for the first time rose 31,000 to 473,000 last week. Economists polled by Thomson Reuters forecast claims would fall. Unemployment is a major obstacle to a sustained recovery.

Investors have been buying stocks this week on growing evidence of improvement in the U.S. economy. They have stopped worrying, at least for now, about potential overseas troubles derailing a global recovery. Investors have been concerned that debt problems in Greece and other European countries could spread. China's move to tighten lending standards and slow its growth to avoid speculative bubbles has also worried investors.

Eric Mintz, assistant portfolio manager of the Eagle Mid Cap Growth Fund in St. Petersburg, Fla., said traders were able to look past the latest jobs report because heavy snow in parts of the country has skewed some of the numbers to make unemployment look worse. He said the bulk of economic reports still signal the economy is improving.

"We're in the early phases of the recovery and you are going to get spotty data," he said.

According to preliminary calculations, the Dow rose 83.66, or 0.8 percent, to 10,392.90, putting its gain for the week at 294 points. The broader Standard & Poor's 500 index rose 7.24, or 0.7 percent, to 1,106.75, and the Nasdaq composite index rose 15.42, or 0.7 percent, to 2,241.71.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.80 percent from 3.74 percent compared late Wednesday.

The dollar mostly rose against other major currencies.

Gold rose, while crude oil rose $1.73 to $79.05 per barrel on the New York Mercantile Exchange.

Earnings reports were mixed. Wal-Mart reported a fourth-quarter profit that topped analysts' expectations. But sales at stores open at least a year fell. The company predicted sales at stores open a year will be down as much as 1 percent or up as much as 1 percent for its U.S. namesake stores this year. The stock fell 59 cents, or 1.1 percent, to $53.47.

Hewlett-Packard Co. reported a better-than-expected fiscal first quarter after the market closed Wednesday. The computer and technology company, which like Wal-Mart is a component of the Dow, also forecast full-year revenue and profit that exceeds analysts' expectations. Its shares rose 69 cents, or 1.4 percent, to $50.81.

Newmont Mining rose $1.17, or 2.5 percent, to $48.41, while Owens-Illinois rose 66 cents, or 2.4 percent, to $27.81.

More than two stocks rose for every one that fell on the New York Stock Exchange, where volume came to 960.4 million shares compared with 1 billion Wednesday.

The Russell 2000 index of smaller companies rose 4.49, or 0.7 percent, to 629.32.

Britain's FTSE 100 rose 0.9 percent, Germany's DAX index and France's CAC-40 each rose 0.6 percent. Japan's Nikkei stock average rose 0.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

*The Dow Jones industrial average closed the week up 303.21 points, or 3 percent, at 10,402.35. The Standard & Poor's 500 index rose 33.66, or 3.1 percent, to 1,109.17. The Nasdaq composite index rose 60.34, or 2.8 percent, to 2,243.87.*

The Fed's decision to hike the discount rate after the prior session's close stirred market participants to dump stocks in pursuit of the dollar, but the dollar inevitably drifted lower and stocks managed to recover and finish the week with their fourth straight gain. 

Given that the Fed's decision to lift the discount rate to 0.75% from 0.50% marked the first rate hike in one year, participants panicked a bit and made a knee-jerk decision to sell stocks. The announcement shouldn't have come as a complete surprise, though. After all, Fed Chairman gave market participants a clue during his recent testimony before the House Financial Services Committee that a modest increase in the spread between the discount rate and the target federal funds rate was expected before long.

The stock market ended a strong week with modest gains after investors found good news in the Federal Reserve's decision to begin dismantling emergency lending measures for banks.

The Dow Jones industrial average rose for a fourth day Friday, edging up 9 points to record its best week in more than three months.

Stocks initially fell in response to the Fed's announcement late Thursday that it is raising the rate it charges banks for emergency loans, known as the discount rate. Stocks turned higher in late morning trading as investors saw the Fed's move as a vote of confidence that the financial system was recovering and that banks didn't need as much support.

*The NYSE DOW closed HIGHER +23.47 points +0.67% on Friday February 19*
Sym. Last......... ........Change.......... 
Dow Jones 3,516.98 +23.47 +0.67% 
Nasdaq 2,243.87 +2.16 +0.10% 
S&P 500 1,109.17 +2.42 +0.22% 
30-Yr Bond 4.7020% -0.5000 

NYSE Volume 4,635,190,500  (prior day 4,480,362,500)
Nasdaq Volume 2,145,884,250  (prior day 2,049,014,120)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,358.17 +33.08 +0.62% 
DAX 5,722.05 +41.64 +0.73% 
CAC 40 4,012.91 -1.06 -0.03% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,123.58 -212.11 -2.05% 
Hang Seng 19,894.02 -528.13 -2.59% 


http://finance.yahoo.com/news/Stocks-edge-higher-after-Fed-apf-2101723830.html?x=0

*Stocks edge higher after Fed eases bank supports

Stocks end strong week with modest climb as Fed starts to remove emergency measures for banks*

By Stephen Bernard and Ieva M. Augstums, AP Business Writers , On Friday February 19, 2010, 6:17 pm EST 

NEW YORK (AP) -- The stock market ended a strong week with modest gains after investors found good news in the Federal Reserve's decision to begin dismantling emergency lending measures for banks.

The Dow Jones industrial average rose for a fourth day Friday, edging up 9 points to record its best week in more than three months.

Stocks initially fell in response to the Fed's announcement late Thursday that it is raising the rate it charges banks for emergency loans, known as the discount rate. Stocks turned higher in late morning trading as investors saw the Fed's move as a vote of confidence that the financial system was recovering and that banks didn't need as much support.

A tame report on consumer prices brought reassurance that the Fed would be able to hold down more important rates for consumers and business loans.

"The Fed certainly isn't exiting the easy money policy door yet," said Burt White, chief investment officer at LPL Financial. "They have their coats and boots on."

The central bank didn't change its more widely used federal funds rate, which is a benchmark for short-term interest rates.

Jay Leupp, president of Grubb & Ellis AGA mutual funds, said it wasinevitablethat the Fed would raise the discount rate. However the timing and size of future rate hikes for both the discount rate and the federal funds rate are still quite uncertain, he said.

"It's a warning sign, but don't expect more to happen soon," Leupp said.

The focus on rates comes as investors grow more encouraged about the U.S. economy after weeks of concerns about conditions overseas. Debt problems in Greece and other European nations as well as China's move to curb its economic growth brought worries that a global rebound would falter.

After being closed for President's Day on Monday, the Dow jumped 170 points on Tuesday as concern about Greece eased and companies including Kraft Foods Inc. and apparel retailer Abercrombie & Fitch Co. posted earnings that topped expectations. Reports on housing construction and activity at factories pushed stocks higher as the week continued.

On Friday, the Dow rose 9.45, or 0.1 percent, to 10,402.35, its highest finish in a month. The Dow is now down only 0.25 percent for the year.

The broader Standard & Poor's 500 index rose 2.42, or 0.2 percent, to 1,109.17, while the Nasdaq composite index rose 2.16, or 0.1 percent, to 2,243.87.

For the week, the Dow rose 303 points, or 3 percent. It was the second straight weekly gain and the strongest point and percentage increase since the week ended Nov. 6.

The S&P 500 index rose 3.1 percent, while the Nasdaq gained 2.8 percent.

Bond prices rose, pushing yields lower, after a benign report on inflation. Rising prices cut into returns of fixed-income investments. The yield on the benchmark 10-year Treasury note fell 3.78 percent from 3.81 percent late Thursday.

The dollar mostly rose against other major currencies. Gold and oil both rose.

On Friday, the markets slowed in late morning as traders watched golfer Tiger Woods' televised remarks about his recent affairs. Volume on the New York Stock Exchange leveled off during Woods' remarks, then picked up momentum after he was finished.

Stock in Nike Inc., one of Woods' biggest sponsors, was down about 19 cents as he spoke, then regained some ground. It ended down 9 cents at $64.35.

In economic news, the Labor Department said the Consumer Price Index rose by a smaller-than-expected 0.2 percent in January. Excluding food and energy, the index actually slipped 0.1 percent, its first monthly drop in 27 years.

"This allows the Fed to keep rates lower for longer," said Frank Ingarra, co-portfolio manager at Hennessy Funds, referring to the CPI report.

A report from the Mortgage Bankers Association provided mixed news about the housing market, which has shown recent signs of stabilizing. The group said the number of borrowers falling behind on their mortgage payments for the first time dropped sharply during the fourth quarter. However a record number of people remain behind on payments or in foreclosure.

Three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to 4 billion shares, in line with Thursday.

The Russell 2000 index of smaller companies rose 2.30, or 0.4 percent, to 631.62.

Overseas, Britain's FTSE 100 rose 0.6 percent, Germany's DAX index gained 0.7 percent, while France's CAC-40 rose 0.6 percent. Japan's Nikkei stock average fell 2.1 percent.

The Dow Jones industrial average closed the week up 303.21 points, or 3 percent, at 10,402.35. The Standard & Poor's 500 index rose 33.66, or 3.1 percent, to 1,109.17. The Nasdaq composite index rose 60.34, or 2.8 percent, to 2,243.87.

The Russell 2000 index, which tracks the performance of small company stocks, rose 20.90, or 3.4 percent, for the week to 631.62.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,391.35, up 347.85, or 3.2 percent.

3667


----------



## bigdog

Source: http://finance.yahoo.com

Stocks rolled over in the final few minutes of trade to log their first loss in five sessions. The downturn came after the stock market failed to extend a move that took it from a modest loss back to its opening high. 

Financials were integral in the afternoon advance. The sector was a steady outperformer for the entire session and finished with a 1.1% loss, despite a lack of clear catalysts within the sector. While the broader market inevitably failed to follow the financial sector to a gain, its strength helped limit losses. 

The stock market paused from a four-day rally Monday and closed modestly lower after big consumer companies gave a cautious outlook for economic growth.

The market, which has advanced on stronger economic signs, fluctuated after Lowe's Cos. and Campbell Soup Co. reported higher earnings but reminded investors that a recovery among consumers is expected to be slow. Stocks drew some support from news that oil field services company Schlumberger Ltd. agreed to buy Smith International Inc.

"Corporate America is being cautious with their earnings predictions," said Roy Williams, CEO at Prestige Wealth Management Group. A recovery in consumer spending hasn't happened as fast as executives have hoped, he said.

*The NYSE DOW closed LOWER -18.97 points -0.18%  on Monday February 22*
Sym. Last......... ........Change.......... 
Dow 10,383.38 -18.97 -0.18% 
Nasdaq 2,242.03 -1.84 -0.08% 
S&P 500 1,108.01 -1.16 -0.10% 
30-yr Bond 4.7310% +0.2900 

NYSE Volume 4,357,647,500  (prior day 4,635,190,500)
Nasdaq Volume 1,940,405,620  (prior day 2,145,884,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,352.07 -6.10 -0.11% 
DAX 5,688.44 -33.61 -0.59% 
CAC 40 3,756.70 -12.84 -0.34% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,400.47 +276.89 +2.74%  
Hang Seng 20,377.27 +483.25 +2.43%  
Straits Times 2,757.46 +0.32 +0.01% 

http://finance.yahoo.com/news/Stocks-close-lower-on-caution-apf-3557827730.html?x=0

*Stocks close lower on caution about economy

Stocks close lower as investors turn cautious following consumer companies' earnings reports*

By Stephen Bernard, AP Business Writer , On Monday February 22, 2010, 5:00 pm 
NEW YORK (AP) -- The stock market paused from a four-day rally Monday and closed modestly lower after big consumer companies gave a cautious outlook for economic growth.

The market, which has advanced on stronger economic signs, fluctuated after Lowe's Cos. and Campbell Soup Co. reported higher earnings but reminded investors that a recovery among consumers is expected to be slow. Stocks drew some support from news that oil field services company Schlumberger Ltd. agreed to buy Smith International Inc.

"Corporate America is being cautious with their earnings predictions," said Roy Williams, CEO at Prestige Wealth Management Group. A recovery in consumer spending hasn't happened as fast as executives have hoped, he said.

Trading was also fragmented as investors hunted for deals following last week's big rally. The Dow Jones industrial average posted its best weekly gain since November on strong earnings and economic reports.

"I wouldn't read too much into this," Sam Stovall, chief investment strategist at Standard & Poor's, said of Monday's trading. "There could be some minor profit-taking."

The Dow fell 18.97, or 0.2 percent, to 10,383.38. The Standard & Poor's 500 index fell 1.16, or 0.1 percent, to 1,108.01, while the Nasdaq composite index fell 1.84, or 0.1 percent, to 2,242.03.

Rising stocks were about even with losers on the New York Stock Exchange, where volume came to a light 944 million shares.

Lowe's said Monday its fourth-quarter profit rose 27 percent as it cut costs and saw a slight increase in sales. The home improvement retailer's results beat analyst projections and Lowe's said it anticipates sales to grow as the housing market recovers. However, its first-quarter earnings forecast was below expectations.

Campbell Soup's fiscal second-quarter profit met forecasts as lower costs helped offset a slowdown in U.S. sales.

"Right now, they're trying to heal," Steven Goldman, chief market strategist at Weeden & Co., said of consumers.

Consumers are holding off on big purchases like home renovations because employment is still a concern, Goldman said. That hurts companies like Lowe's that rely on big spending from U.S. customers. But they're also being choosy when it comes to staples including food. Campbell's report reflected that caution.

Lowe's fell 6 cents to $23.07. Campbell Soup dipped 43 cents to $33.50.

The National Association for Business Economics echoed a similar tone that the economy is getting better, but at a sluggish pace. It reaffirmed in its latest outlook that an economic recovery remains on track, though it will be slow. The group of economists expects to see job growth later this quarter, but unemployment is expected to stay above 9 percent throughout the year.

High unemployment -- the rate currently stands at 9.7 percent -- remains a major obstacle for a strong, sustained recovery. It has also dragged down consumer spending and confidence, which hurts companies like Lowe's and Campbell Soup.

Other major retailers, including Macy's Inc., Target Corp., Home Depot Inc. and Gap Inc., release quarterly results this week. The reports should provide further clues about whether consumers are more confident in the recovery.

Schlumberger is buying Smith International for $11 billion in stock in a move to diversify its product offerings and better compete with rival Halliburton Co. Investors viewed the deal as a sign that demand is likely to grow for fuel as the global economy recovers.

Energy and material companies were mixed on the day following the deal. Falling commodity prices dragged down the sector.

Schlumberger shares fell $2.33, or 3.7 percent, to $61.57. Smith International rose $3.33, or 8.8 percent, to $41.03.

Healthcare shares were also mixed after President Barack Obama renewed his push for insurance reform and a Senate report said drug maker GlaxoSmithKline has known about possible heart attack risks tied to its diabetes medication Avandia.

GlaxoSmithKline shares fell 94 cents, or 2.5 percent, to $37.32.

Meanwhile, bond prices also traded in a tight range. Long-term bonds fell slightly, while short-term rates increased -- a sign that investors might expect the Federal Reserve to raise its benchmark rates in the coming months.

Fed chairman Ben Bernanke is scheduled to give his semiannual report on the economy and interest rates to Congress later this week. Last week the Fed started to remove its extraordinary stimulus measures put in place during the recession. It increased the rate it charges banks for emergency loans.

The yield on the 10-year Treasury note rose to 3.80 percent, from 3.78 percent late Friday.

The Russell 2000 index of smaller companies rose 0.63, or 0.1 percent, to 632.25.

Overseas, Japan's Nikkei stock average rose 2.7 percent. Britain's FTSE 100 fell 0.1 percent, Germany's DAX index fell 0.6 percent, and France's CAC-40 fell 0.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks closed near session lows in their worst single-session percentage loss in more than two weeks as sellers were stirred to action by a disappointing consumer confidence reading and a stronger dollar.  

A relatively weak start quickly turned to something more ugly with the midmorning release of the February Consumer Confidence Index, which came in below expectations at a 10-month low of 46.0. Broad-based pressure immediately followed to take each of the three major indices back below its 50-day moving average after the technical line acted as a supportive floor in the previous session. 

Losses among stocks worsened as the greenback gained ground against competing currencies. The dollar settled the session 0.5% higher after it extended a moderate gain from the early going. 


The stock market fell sharply Tuesday after a surprising drop in consumer confidence reminded investors of the fragility of the economic recovery.

The Dow Jones industrials fell 100 points. Interest rates also fell in the bond market as investors moved money out of stocks and into the safety of Treasurys.

The Conference Board said its consumer confidence index fell to 46 in February from 56.5 last month. That was well below the forecast of economists polled by Thomson Reuters. They expected a reading of 55.

*The NYSE DOW closed LOWER -100.97 points -0.97%  on Tuesday February 23*
Sym. Last......... ........Change.......... 
Dow 10,282.41 -100.97 -0.97% 
Nasdaq 2,213.44 -28.59 -1.28% 
S&P 500 1,094.60 -13.41 -1.21% 
30-yr Bond 4.6320% -0.9900 

NYSE Volume 5,183,887,000  (prior day 4,357,647,500)
Nasdaq Volume 2,265,145,500  (prior day 1,940,405,620)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,315.09 -36.98 -0.69% 
DAX 5,604.07 -84.37 -1.48% 
CAC 40 3,707.06 -49.64 -1.32% 


*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,352.10 -48.37 -0.47%  
Hang Seng 20,623.00 +245.73 +1.21%  
Straits Times 2,782.55 +25.09 +0.91% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks retreat after disappointing consumer report

Stocks pull back after worse-than-expected consumer confidence report; Dow falls 100*

By Stephen Bernard, AP Business Writer , On Tuesday February 23, 2010, 4:45 pm 
NEW YORK (AP) -- The stock market fell sharply Tuesday after a surprising drop in consumer confidence reminded investors of the fragility of the economic recovery.

The Dow Jones industrials fell 100 points. Interest rates also fell in the bond market as investors moved money out of stocks and into the safety of Treasurys.

The Conference Board said its consumer confidence index fell to 46 in February from 56.5 last month. That was well below the forecast of economists polled by Thomson Reuters. They expected a reading of 55.

Not only did the index fall sharply, it is far from indicating strength in the economy. A reading above 90 means the economy is on solid footing. Consumers are vital to a strong, sustained economic recovery because their spending accounts for more than two-thirds of all economic activity.

The confidence numbers came as investors were already rethinking the more optimistic assessment they had of the economy last week. Stocks had rallied for four straight days on upbeat earnings news, including some from retailers, and on improving housing and manufacturing numbers.

That rally has ended this week in response to a growing pile of disappointing consumer news, including retail earnings reports. While Home Depot Inc., Sears Holdings Corp., Macy's Inc. and Target Corp. all reported better-than-expected earnings Tuesday, the companies indicated that sales growth is lagging. That's a sign that consumers are still too hesitant about the economy and their own job security to spend freely.

"Consumers are still just very confused," said J. Garrett Stevens, CEO of FaithShares, which manages exchange-traded funds. Economic reports remain mixed, which is typical for this point in a recovery and add to uncertainty among investors, he said.

"Until we get more consistently positive trends, it's like to be choppy like this," Stevens said.

The Dow fell 100.97, or 1 percent, to 10,292.41 after being up around 19 before the consumer confidence index was released. The Standard & Poor's 500 index dropped 13.41, or 1.2 percent, to 1,094.60, while the Nasdaq composite index fell 28.59, or 1.3 percent, to 2,213.44.

About two stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.08 billion shares.

Stocks have been volatile during the first two months of the year, alternating between multi-week stretches of gains and losses. Stocks rallied the past two weeks on signs of domestic growth after a nearly monthlong drop because of worries that European debt problems would upend a global economic recovery.

The Chicago Board Options Exchange's Volatility Index, which is known as the market's fear gauge, shot up 7.2 percent Tuesday. An increase in the VIX signals that investors are prepared for swings in the market.

Meanwhile, interest rates fell in the bond market as Treasury prices rose. Investors were betting that a weak recovery will force the Federal Reserve to keep interest rates low. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.69 percent from 3.80 percent late Monday.

Investors will get further insight into potential interest rate changes when Fed chairman Ben Bernanke testifies before Congress on Wednesday and Thursday.

A modest increase in sales and cost-cutting helped Home Depot's profit top expectations. The home improvement retailer also raised its dividend and outlook, evidence it is confident about the strength of an eventual recovery. Competitor Lowe's Corp. on Monday also raised its outlook, but had a cautious tone about growth.

Like Home Depot, Sears Holdings said falling expenses and a slight boost in sales helped its profit surpass forecasts. Macy's and Target also reported upbeat quarterly earnings.

A report on home prices showed that the housing market continues its slow recovery. The Standard & Poor's/Case-Shiller 20-city home price index rose 0.3 percent from November to December.

Home prices' rate of decline from a year earlier also improved. That measure fell 3.1 percent. Economists had forecast a year-over-year drop of 3.2 percent, compared with a decline of 5.3 percent in November.

"Case-Shiller shows some of this continuing bottoming effect in housing prices," said Michael Strauss, chief economist at Commonfund. "It shows the weakest link in the economy is no longer a drag on the economy."

Overseas markets mostly fell after disappointing economic reports from Germany showed that Europe's largest economy has been hurt by the mounting debt problems in countries like Greece.

Germany's DAX index fell 1.5 percent and France's CAC-40 dropped 1.3 percent. Britain's FTSE 100 fell 0.7 percent. Japan's Nikkei stock average fell 0.5 percent.

The dollar was mixed against other major currencies. It rose against the euro and fell against the British pound. Gold and oil both fell, joining other commodities as investors shied away from investments seen as risky.

The Russell 2000 index of smaller companies fell 7.18, or 1.1 percent, to 625.07.


----------



## bigdog

Source: http://finance.yahoo.com

Despite an early slip, both stocks and commodities were able to rebound from their losses in the prior session. 

Coming off of its worst single-session percentage drop in more than two weeks, the stock market bounced back in a strong move that finished with stocks near their session highs. The gains didn't come easy, though; stocks were pressured in the early going by disappointing new home sales for January and a negative knee-jerk response to prepared remarks from Fed Chairman Bernanke.

Federal Reserve Chairman Ben Bernanke gave the stock market the tonic it wanted: Interest rates will stay low.

Stocks rallied Wednesday and ended a two-day slide after Bernanke sounded an upbeat note about the economy during his semiannual report to Congress. He told the House Financial Services Committee he still expects rates will remain low for an extended period. Investors want to see low-cost borrowing continue to help revive the economy.

Financial stocks helped pull the Dow Jones industrial average up 92 points after the index slid 101 on Tuesday. JPMorgan Chase & Co. and Bank of America Corp. each rose more than 2 percent. Meanwhile, the technology-dominated Nasdaq composite index rose after software company Autodesk Inc. reported stronger earnings and revenue than expected.

*The NYSE DOW closed HIGHER +91.75 points +0.89% on Wednesday February 24*
Sym. Last......... ........Change.......... 
Dow 10,374.16 +91.75 +0.89% 
Nasdaq 2,235.90 +22.46 +1.01% 
S&P 500 1,105.24 +10.64 +0.97% 
30-yr Bond 4.6340% +0.0200 

NYSE Volume 4,734,938,000  (prior day 5,183,887,000)
Nasdaq Volume 2,115,858,750  (prior day 2,265,145,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,342.92 +27.83 +0.52% 
DAX 5,615.51 +11.44 +0.20% 
CAC 40 3,715.68 +8.62 +0.23% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,198.83 -153.27 -1.48%  
Hang Seng 20,467.74 -155.26 -0.75%  
Straits Times 2,762.14 -20.41 -0.73% 

*Stocks rebound as Bernanke sees rates staying low

Stocks rebound from slide as Bernanke tells Congress interest rates are likely to remain low*

By Tim Paradis and Ieva M. Augstums, AP Business Writers , On Wednesday February 24, 2010, 4:24 pm 

NEW YORK (AP) -- Federal Reserve Chairman Ben Bernanke gave the stock market the tonic it wanted: Interest rates will stay low.

Stocks rallied Wednesday and ended a two-day slide after Bernanke sounded an upbeat note about the economy during his semiannual report to Congress. He told the House Financial Services Committee he still expects rates will remain low for an extended period. Investors want to see low-cost borrowing continue to help revive the economy.

Financial stocks helped pull the Dow Jones industrial average up 92 points after the index slid 101 on Tuesday. JPMorgan Chase & Co. and Bank of America Corp. each rose more than 2 percent. Meanwhile, the technology-dominated Nasdaq composite index rose after software company Autodesk Inc. reported stronger earnings and revenue than expected.

At the same time, a disappointing report on new home sales brought the latest reminder that a recovery in the economy will be difficult even with government aid.

The Commerce Department said sales of new homes fell to a record low in January. Economists expected an increase. The government said that new home sales fell 11.2 percent last month to a seasonally adjusted annual sales rate of 309,000 units. That's the lowest level on a record that goes back nearly 50 years. It was the third straight monthly drop.

Housing has been a big concern for investors who this week have been worrying about consumer spending. A surprising drop in consumer confidence reminded investors of the fragility of the economic recovery and sent stocks sliding on Tuesday. The market also posted modest losses on Monday.

For more than a year, investors have been looking to answer the question of how soon the economy will be in a sustained recovery. Bernanke's testimony brought calm to the market but another batch of worrisome economic numbers would likely send investors running again. That has been their pattern for months.

Jim McDonald, chief investment strategist at Northern Trust in Chicago, said Bernanke's testimony signaled that interest rates will remain low for the next six months. He said that should allow the economy to proceed with a gradual recovery.

"Even though nothing he said was particularly new, it was just enough to calm the ruffled feathers that were out there," McDonald said.

According to preliminary calculations, the Dow rose 91.75, or 0.9 percent, to 10,374.16. The advance pared the Dow's loss for the week to 28 points.

The broader Standard & Poor's 500 index rose 10.64 or 1 percent, to 1,105.24, and the Nasdaq composite index rose 22.46, or 1 percent, to 2,235.90.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note was unchanged at 3.69 percent from late Tuesday.

The dollar fell against other major currencies following Bernanke's remarks because low interest rates make the currency a less attractive investment. The drop in the dollar lifted prices of commodities, which become cheaper for foreign buyers when the dollar falls. The gain in commodity prices, in turn, lifted energy stocks.

Crude oil rose $1.14 to $80 per barrel on the New York Mercantile Exchange. Gold prices fell.

Investors keep watch over interest rates because low-cost cash has


----------



## bigdog

Source: http://finance.yahoo.com

The S&P 500 gapped down in the early going and traded with a 1.7% loss at its session low, but a downturn by the dollar caused stocks to rally into the afternoon. The major indices were able to reverse nearly all of their losses and finish near session highs. 

Stocks looked like they were headed for a dismal session as all 10 of the major sectors in the S&P 500 dropped to losses in excess of 1% in the early going. Pessimism among participants was rooted in a disappointing batch of economic data and moderate strength in the dollar. 

Stocks fell Thursday but closed well off their lows as investors set aside some of their concerns about Greece's rising debt.

The recovery came as the dollar pulled back from an early spike. The dollar is seen as a safe investment. So its retreat signals that by the end of the day, investors had lost some of their fears about Greece's debt problems hurting other countries.

The Dow Jones industrial average closed down 53 points after having fallen 188. Treasury prices, like the dollar, rose as investors sought safety.

*The NYSE DOW closed LOWER -53.13 points -0.51% on Thursday February 25*
Sym. Last......... ........Change.......... 
Dow 10,321.03 -53.13 -0.51% 
Nasdaq 2,234.22 -1.68 -0.08% 
S&P 500 1,102.93 -2.31 -0.21% 
30-yr Bond 4.5820% -0.5200 

NYSE Volume 5,247,215,500  (prior day 4,734,938,000)
Nasdaq Volume 2,268,387,250  (prior day 2,115,858,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,278.23 -64.69 -1.21% 
DAX 5,532.33 -83.18 -1.48% 
CAC 40 3,640.77 -74.91 -2.02% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,101.96 -96.87 -0.95%  
Hang Seng 20,399.57 -68.17 -0.33%  
Straits Times 2,749.15 -12.99 -0.47% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks fall on renewed concerns about economy

Market drops on concerns that weak US job market, Greece debt woes will stall economic rebound*

By Tim Paradis and Stephen Bernard, AP Business Writers , On Thursday February 25, 2010, 5:06 pm 

NEW YORK (AP) -- Stocks fell Thursday but closed well off their lows as investors set aside some of their concerns about Greece's rising debt.

The recovery came as the dollar pulled back from an early spike. The dollar is seen as a safe investment. So its retreat signals that by the end of the day, investors had lost some of their fears about Greece's debt problems hurting other countries.

The Dow Jones industrial average closed down 53 points after having fallen 188. Treasury prices, like the dollar, rose as investors sought safety.

The early slide came as the possibility of downgrades of Greece's debt fanned worries that financial troubles there will spread to other countries. The euro fell and touched a nine-month low against the dollar. Stocks often get hit when the dollar jumps because commodity prices often fall. A drop in commodity prices hurts energy and materials stocks.

Concerns about Greece have dogged investors this year but grew after credit rating agencies Standard & Poor's and Moody's said they might further downgrade the country's debt. That would make it harder for the country to borrow.

An unexpected rise in first-time claims for unemployment insurance added to the sour mood that dominated trading early in the day and raised concerns that the labor market will worsen.

The Labor Department said first-time claims for unemployment insurance rose by 22,000 to a seasonally adjusted 496,000. Economists polled by Thomson Reuters had forecast a drop in claims.

It was the second straight week that claims rose unexpectedly. High unemployment remains one of the biggest obstacles to a sustained economic recovery. The Labor Department's monthly report on employment will be released next week.

Trading in the U.S. has been choppy in recent weeks because of uneasiness about the economy. Global markets retreated earlier this month because traders were worried about Greece's debt problems. The market's drop early in the week, a rebound and the latest slide signal that investors are waiting for clearer information on the direction of the economy.

Justin Golden, a strategist at Macro Risk Advisors in New York, said there is an undercurrent of worry about long-term issues like debt in Greece. The presence of the concerns means it doesn't take much to rattle investors.

"It's a statement of how fragile the markets really are," Golden said.

The Dow fell 53.13, or 0.5 percent, to 10,321.03. The broader Standard & Poor's 500 index slipped 2.30, or 0.2 percent, to 1,102.94. The Nasdaq composite index fell 1.68, or 0.1 percent, to 2,234.22.

Bond prices rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.64 percent from 3.70 percent late Wednesday.

Crude oil fell $1.83 to $78.17 per barrel on the New York Mercantile Exchange. Gold rose.

The drop in major stock indexes masks the broad improvement in the market. For much of the day, all 30 stocks that make up the Dow were lower. In the end, five turned higher. Aluminum producer Aloca Inc. was the biggest gainer, rising 25 cents, or 1.9 percent, to $13.31.

The Chicago Board Options Exchange's Volatility Index, which is known as the market's fear gauge, ended down 0.8 percent after jumping 11.9 percent in morning trading. A rise in the VIX signals that investors are expecting swings in the market.

By the closing bell there were slightly more advancing stocks than decliners on the New York Stock Exchange. Earlier five stocks were down for every one that rose.

Jim Maguire Jr., a trader at E.H. Smith Jacobs in New York, said he expects the market to continue in the tight range it has seen this year as investors look for clues about the pace of an economic rebound.

"There is a feeling out there that this is not a self-sustaining economy as of yet and there is this expectation that the stock market is going to falter because of it," he said.

Maguire said questions about how quickly the rebound will occur is keeping traders from placing big bets after a year of enormous gains in stocks. The Dow hit a 12-year low in March last year.

"Ultimately, I think we're looking at a consolidation here and I think it could be a very long haul," he said. "The characteristics of that are typically these types of choppy markets. We get these updrafts and downdrafts."

Stocks broke a two-day losing streak on Wednesday after Federal Reserve Chairman Ben Bernanke said in a semiannual report to Congress that the central bank plans to keep interest rates low to help the economy. There was little reaction to his similar testimony before the Senate on Thursday.

Advancing stocks narrowly outpaced those that fell on the NYSE, where volume came to 1.1 billion shares compared with 1 billion Wednesday.

The Russell 2000 index of smaller companies rose 0.03, or less than 0.1 percent, to 630.46.

Overseas, Britain's FTSE 100 fell 1.2 percent, Germany's DAX index dropped 1.5 percent, and France's CAC-40 fell 2 percent. Japan's Nikkei stock average fell 1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

*The Dow fell 0.7 percent for the week but rose 2.6 percent for the month. That's the best run since it jumped 6.5 percent in November.

The broader S&P 500 index fell 0.4 percent for the week and climbed 2.9 percent in February.

The Nasdaq composite index fell 0.3 percent for the week. For February, the gain came to 4.2 percent.*

All the whipsaw action earlier this week left participants subdued for most of the week's final session. That left stocks to spend most of the session trading listlessly in a tight range. 

Participants were generally unmoved by the revised fourth quarter GDP numbers. The headline growth rate was upwardly revised to reflect 5.9% annualized growth rate, which exceeded expectations, but the personal consumption component increased at a softer-than-expected clip of 1.7%. Core personal consumption expenditures increased at a faster-than-expected quarter-over-quarter clip of 1.6%, though.

The stock market eked out a gain Friday as investors took downbeat economic news in stride.

The modest gains still left stocks with a loss for the week but the Dow Jones industrial average and the Standard & Poor's 500 index logged their best month since November.

The latest bad news came from several corners including the financial industry. Insurer American International Group Inc. reported a larger than expected fourth-quarter loss. The company said its primary insurance business was hurt in part by the economy.

*The NYSE DOW closed HIGHER +4.23 points +0.04% on Friday February 26*
Sym. Last......... ........Change.......... 
Dow 10,325.26 +4.23 +0.04% 
Nasdaq 2,238.26 +4.04 +0.18% 
S&P 500 1,104.49 +1.56 +0.14% 
30-yr Bond 4.5290% -0.5300 

NYSE Volume 4,770,337,000  (prior day 5,247,215,500)
Nasdaq Volume 2,274,759,500   (prior day 2,268,387,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,354.52 +76.30 +1.45% 
DAX 5,598.46 +66.13 +1.20% 
CAC 40 3,708.80 +68.03 +1.87% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,126.03 +24.07 +0.24% 
Hang Seng 20,608.70 +209.13 +1.03% 
Straits Times 2,750.86 +1.71 +0.06% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks edge higher after mixed economic news

Stocks climb as investors shake off AIG results; GDP is revised higher but home sales fall*

By Tim Paradis, AP Business Writer , On Friday February 26, 2010, 5:36 pm 

NEW YORK (AP) -- The stock market eked out a gain Friday as investors took downbeat economic news in stride.

The modest gains still left stocks with a loss for the week but the Dow Jones industrial average and the Standard & Poor's 500 index logged their best month since November.

The latest bad news came from several corners including the financial industry. Insurer American International Group Inc. reported a larger than expected fourth-quarter loss. The company said its primary insurance business was hurt in part by the economy.

The National Association of Realtors said sales of previously occupied homes fell 7.2 percent in January. It marks the second straight month of a big drop. Analysts had predicted a gain. The Realtors' report comes two days after the Commerce Department said that new home sales fell last month.

Meanwhile, the Commerce Department reported that the nation's economy grew at a faster pace than initially estimated for the end of 2009. The stronger growth from the third quarter to the fourth quarter was welcome news but analysts say much of the gain is tied to businesses rebuilding inventories. Gross domestic product grew at an annual rate of 5.9 percent, above the 5.7 percent previous estimate. Growth is expected to slow in the coming quarters.

The mixed reports added to investors' confusion about the economy. Analysts are divided over whether a recovery is on track. That has led to swings in the stock market after nearly a year of huge gains. Major stock indexes were strong in February but are down about 1 percent for the year. This week, stocks have fallen, jumped and slid again as worries about the economy intensified and eased.

"We're in a time period where the range of potential outcomes is probably wider than it's been for some time," said Colleen Supran, a portfolio manager at Bingham, Osborn & Scarborough in San Francisco. She pointed to concerns about everything from unemployment and housing to heavy debt loads in Greece and other parts of Europe causing another recession.

"Are we going to have a double dip? Are corporations going to be able to grow earnings? That's sort of the bottom line for stock prices in the long run."

The Dow rose 4.23, or less than 0.1 percent, to 10,325.26. It fell 0.7 percent for the week but rose 2.6 percent for the month. That's the best run since it jumped 6.5 percent in November.

The broader S&P 500 index rose 1.55, or 0.1 percent, to 1,104.49. It fell 0.4 percent for the week and climbed 2.9 percent in February.

The Nasdaq composite index rose 4.04, or 0.2 percent, to 2,238.26. It fell 0.3 percent for the week. For February, the gain came to 4.2 percent.

Bond prices rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.62 percent from 3.64 percent late Thursday.

The dollar fell against other major currencies. Gold rose.

Crude oil rose $1.49 to $79.66 per barrel on the New York Mercantile Exchange.

Trading volume was light Friday in part because of a winter storm hitting the Northeast. More than 20 inches fell in New York's Central Park.

Investors were unwilling to make big moves ahead of economic reports next week. Most important, the Labor Department is expected to release its February payrolls report on Friday. Reports are also due on personal income and spending, manufacturing, construction spending and home sales.

Inconsistent reports are a part of economic recoveries but the size of the problems like unemployment and housing have brought concerns that a recovery will stall.

"It's just complicating the ability to forecast with any degree of confidence how this is all going to settle out," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.

The questions about the economy have been tugging at the market. Stocks fell Monday and Tuesday after Lowe's Cos. and Campbell Soup Co. warned that consumer spending will be slow to recover and after a drop in consumer confidence. The market then barreled higher Wednesday after Federal Reserve Chairman Ben Bernanke reiterated that interest rates would stay low to help the economy. On Thursday, stocks plunged and then recovered most of their losses as concerns shifted about unemployment and Greece.

"It really speaks to the level of angst that's out there," Luschini said, referring to the swings.

The report from AIG brought a reminder of the strains that still exist in the financial system. AIG said it lost $8.87 billion in the fourth quarter of 2009. That's improved from a year earlier but weaker than analysts expected. AIG fell $2.74, or 10 percent, to $24.77.

Private equity firm Thomas H. Lee Partners said it is planning to acquire the parent of Carl's Jr. and Hardee's restaurants. The offer for CKE Restaurants Inc. totals $619 million in cash and $309 million in debt. Analysts like to see takeovers because it is a sign of confidence in the economy. CKE jumped $2.46, or 27.6 percent, to $11.37.

Meanwhile, a fifth straight monthly increase in the Chicago Purchasing Managers Index provided some hope about the strength of manufacturing. The Chicago PMI rose to 62.6 in February from 61.5 in January.

Three stocks rose for every two that fell on the New York Stock Exchange, where trading volume came to 1.2 billion shares compared with 1.1 billion Thursday.

The Russell 2000 index of smaller companies fell 1.90, or 0.3 percent, to 628.56.

Overseas, markets rose after improved economic reports in Britain and Japan boosted optimism about a global recovery. The U.K. government revised higher its estimate of the nation's economic growth for the fourth quarter. In Japan, output from factories rose by more than expected in January and February retail sales jumped.

Britain's FTSE 100 rose 1.5 percent, Germany's DAX index gained 1.2 percent, and France's CAC-40 rose 1.9 percent. Japan's Nikkei stock average rose 0.2 percent.

4163


----------



## bigdog

Source: http://finance.yahoo.com

Stocks started March with a strong, broad-based push to fresh one-month highs in the face of a stronger dollar, but equities ran into resistance as the S&P 500 attempted to turn positive for the year. 

All three major indices spent the entire session in higher ground with solid gains. The Nasdaq Composite was the strongest of the headline indices, thanks to leadership from large-cap tech. SanDisk (SNDK 32.63, +3.48) was one of the best performers in the Nasdaq after the company's improved outlook during its investor conference this past Friday won it the favor of several Wall Street firms. 

Major stock indexes rose to their highest levels in more than a month Monday after corporate buyouts raised hopes about the economy.

The Dow Jones industrial average rose 79 points. The Standard & Poor's 500 index, the basis of many mutual funds, erased its losses for the year. The Nasdaq composite index also turned positive for 2010 after a Japanese drugmaker said it was pursuing OSI Pharmaceuticals Inc. and SanDisk Corp. raised its revenue forecast.

The biggest boost for the market came from insurer American International Group Inc., which agreed to sell its prized Asian life insurance business to Britain's Prudential PLC for $35.5 billion. It is seen as a sign of confidence in the economy when big businesses go ahead with takeovers.

*The NYSE DOW closed HIGHER +78.53 points +0.76% on Monday March 1*
Sym. Last......... ........Change.......... 
Dow 10,403.79 +78.53 +0.76% 
Nasdaq 2,273.57 +35.31 +1.58% 
S&P 500 1,115.71 +11.22 +1.02% 
30-yr Bond 4.5570% +0.2800 

NYSE Volume 4,388,253,500  (prior day 4,770,337,000)
Nasdaq Volume 2,453,020,250  (prior day 2,274,759,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,405.94 +51.42 +0.96% 
DAX 5,713.51 +115.05 +2.06% 
CAC 40 3,753.06 +44.26 +1.19% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225		10,172.06	 +46.03 	+0.45%
Hang Seng		21,056.93	 +448.23 	+2.17%
Straits Times		2,774.06	 +23.20 	+0.84%

http://finance.yahoo.com/news/Buyou...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Buyouts lift stocks to highest level since Jan.

Stocks climb after AIG agrees to sell key business; S&P 500 index turns positive for 2010*

By Stephen Bernard and Tim Paradis, AP Business Writers , On Monday March 1, 2010, 5:12 pm 

NEW YORK (AP) -- Major stock indexes rose to their highest levels in more than a month Monday after corporate buyouts raised hopes about the economy.

The Dow Jones industrial average rose 79 points. The Standard & Poor's 500 index, the basis of many mutual funds, erased its losses for the year. The Nasdaq composite index also turned positive for 2010 after a Japanese drugmaker said it was pursuing OSI Pharmaceuticals Inc. and SanDisk Corp. raised its revenue forecast.

The biggest boost for the market came from insurer American International Group Inc., which agreed to sell its prized Asian life insurance business to Britain's Prudential PLC for $35.5 billion. It is seen as a sign of confidence in the economy when big businesses go ahead with takeovers.

AIG wants to sell the division, known as AIA Group, as part of its plan to streamline operations and repay the government. AIG received $182.5 billion from the U.S. government in September 2008. It had reduced that amount to $129.26 billion by end of last year but is still majority-owned by taxpayers.

Stocks also rose on hope that European nations will announce a bailout deal to help Greece with its mounting debt problems. Stocks around the world have been hit at times in recent months because of concerns debt problems in Greece would spread to other countries and undermine Europe's shared currency, the euro.

European Union and Greek officials are meeting and media reports said a deal could be hammered out soon that would involve state-owned banks in Europe buying Greek government bonds.

The corporate takeovers and the possibility of some fix for Greece's problems bolstered a sense that the economy could continue to rebound. Major stock market indexes rose more than 2 percent in February for their best performance since November. Stocks have jumped in the past 12 months but investors have still been concerned that a rebound in the economy will stall.

Trading volume was light Monday, which is a sign that many investors aren't taking part in the buying.

Dave Hinnenkamp, chief executive KDV Wealth Management in Minneapolis, said the deals signal that companies are becoming more confident in the economic recovery and willing to spend some of their cash.

"They are at a point now where they can see that the light at the end of the tunnel isn't a train," Hinnenkamp said.

The Dow rose 78.53, or 0.8 percent, to 10,403.79, its highest close since Jan. 20. The Dow is down 24 points for the year, though still down 322 points from a 15-month high on Jan. 19.

The broader S&P 500 index rose 11.22, or 1 percent, to 1,115.71, its best level since Jan. 21. It is now up 0.1 percent for 2010. The Nasdaq rose 35.31, or 1.6 percent, to 2,273.57. It is up 0.2 percent for the year.

The Russell 2000 index of smaller companies rose 14.09, or 2.2 percent, to 642.65.

Bond prices mostly rose, pushing down yields. The yield on the benchmark 10-year Treasury note fell to 3.61 percent from 3.62 percent late Friday.

The dollar rose against other major currencies, while gold fell.

Crude oil fell 96 cents to settle at $78.70 per barrel on the New York Mercantile Exchange.

In stocks, AIG rose $1.01, or 4.1 percent, to $25.78. AIG reported disappointing fourth-quarter results Friday, which tempered gains in the market on the final day of trading for February.

OSI Pharmaceuticals jumped $19.23, or 51.9 percent, to $56.25. Astellas Pharma Inc. said it would take a $3.5 billion takeover bid to OSI shareholders after management rejected the offer.

SanDisk increased its first-quarter revenue forecast. Shares of the maker of flash memory cards, which are used in electronics like cameras, rose $3.48, or 11.9 percent, to $32.63.

Millipore Corp. jumped $10.49, or 11.1 percent, to $104.90 after Germany's Merck KGaA said it would pay $6 billion to acquire the maker of biotechnology equipment.

MSCI Inc. struck a deal to acquire RiskMetrics Group Inc. for about $1.55 billion in cash and stock. The companies sell services to financial companies. MSCI fell $1.39, or 4.6 percent, to $28.59, while RiskMetrics rose $2.46, or 13.2 percent, to $21.09.

Manny Weintraub, president of Integre Advisors in New York, said investors are still trying to determine what an economic recovery will look like. In past downturns, the rebound is often more swift than investors expect. But economic reports in the past two months have signaled a more tepid rebound.

Still, Weintraub sees the buyouts as a good sign that solid companies can obtain financing a year after stocks tumbled to 12-year lows.

"It's definitely a show of confidence," he said.

The Commerce Department said personal spending rose 0.5 percent in January. Economists had forecast an increase of 0.4 percent. Investors saw the gain in spending as a welcome sign for the economy. However, personal income edged up 0.1 percent, below the 0.4 percent forecast by economists. It was the slowest growth in income in fourth months and could eventually hurt spending.

The spending figures lifted retailers. Macy's Inc. rose 63 cents, or 3.3 percent, $19.78, while Tiffany & Co. rose $1.20, or 2.7 percent, to $45.59. Home Depot Inc. rose to its highest level in a year during trading. The stock finished up 23 cents, or 0.7 percent, to $31.43.

Four stocks rose for every one that fell on the New York Stock Exchange, where volume came to a light 966.6 million shares compared with 1.2 billion Friday.

Britain's FTSE 100 gained 1 percent, Germany's DAX index jumped 2.1 percent, and France's CAC-40 climbed 1.6 percent. Japan's Nikkei stock average rose 0.5 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks finished in weak fashion as solid, broad-based gains faded into the close and the major indices settled near session lows. However, the stock market still managed to eke out a slight gain, which puts it in positive territory for the year. 

The mood among participants this session had generally been upbeat since the opening bell. The positive tone helped stocks extend the prior session's advance, such that the major indices hit new one-month highs. 

The stock market had its third straight winning day on signs that companies are becoming more optimistic about the economy.

The Dow Jones industrial average edged up 2 points Tuesday but closed off its best levels. The Dow had managed to erase its losses for the year during trading but was down 22 points for 2010 by the close. Broader indexes pushed into the black for the year on Monday and extended their gains Tuesday.

More merger activity and a plan by Qualcomm Inc. to buy back stock brought reassurance that business leaders expect the recovery to continue. The economy's health had been in doubt in recent months after reports indicated the pace of improvement was slowing and as countries including Greece struggled with heavy debt loads.

*The NYSE DOW closed HIGHER +2.19 points +0.02% on Tuesday March 2*
Sym. Last......... ........Change.......... 
Dow 10,405.98 +2.19 +0.02% 
Nasdaq 2,280.79 +7.22 +0.32% 
S&P 500 1,118.31 +2.60 +0.23% 
30-yr Bond 4.5690% +0.1200 

NYSE Volume 4,788,575,500   (prior day 4,388,253,500)
Nasdaq Volume 2,790,432,250  (prior day 2,453,020,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,484.06 +78.12 +1.45% 
DAX 5,776.56 +63.05 +1.10% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,221.84 +49.78 +0.49%  
Hang Seng 20,906.11 -150.82 -0.72%  
Straits Times 2,772.20 -1.86 -0.07% 

http://finance.yahoo.com/news/More-merger-activity-helps-apf-2327669768.html?x=0

*More merger activity helps lift stocks for 3rd day

Stocks extend gains after merger activity, improved economic reports overseas boost confidence*

By Tim Paradis and Stephen Bernard, AP Business Writers , On Tuesday March 2, 2010, 5:16 pm 

NEW YORK (AP) -- The stock market had its third straight winning day on signs that companies are becoming more optimistic about the economy.

The Dow Jones industrial average edged up 2 points Tuesday but closed off its best levels. The Dow had managed to erase its losses for the year during trading but was down 22 points for 2010 by the close. Broader indexes pushed into the black for the year on Monday and extended their gains Tuesday.

More merger activity and a plan by Qualcomm Inc. to buy back stock brought reassurance that business leaders expect the recovery to continue. The economy's health had been in doubt in recent months after reports indicated the pace of improvement was slowing and as countries including Greece struggled with heavy debt loads.

In deal news, CF Industries made a new offer for fertilizer maker Terra Industries, which last month agreed to be sold to Norway's Yara for $4.1 billion. Dow Chemical Co. sold its Styron plastics business to private equity firm Bain Capital for $1.63 billion. Investors often see takeovers as signs of confidence in the economy.

Meanwhile, Qualcomm said it would buy back $3 billion in stock and raise its dividend by 12 percent. Shares of the maker of wireless chips and other mobile technology rose 6.7 percent.

Markets got a lift from upbeat economic reports abroad and growing hopes European leaders will come up with a bailout for Greece. The Greek government is scheduled to detail deeper spending cuts on Wednesday.

Manufacturing exports in India rose for a third month in January and new orders reached an 18-month high last month. Japan's unemployment rate dropped for the second straight month in January and household spending grew.

The array of reports about dealmaking and global economic readings are clues for investors who are trying to determine how fast a recovery will take place. A long climb in the stock market began to stall in mid-January following mixed economic reports and concern about debt in Greece and other relatively weak European economies like Portugal and Spain.

Major stock indexes stand at their highest levels in more than a month but the gains have come in light trading volume. That indicates many investors are staying out of the market as they await more evidence about the economy.

Darell Krasnoff, managing director at Bel Air Investment Advisors in Los Angeles, said the rebound after the slide in January and early February is a sign that the market needed a break before it could proceed. Still, he said that investors feel burned by the slide in 2008 and early 2009 and have concerns about the economy.

"There is still tremendous anxiety about the state of the global economy," he said. "It doesn't take much to rekindle the animal spirits of the bear market."

The Dow rose 2.19, or less than 0.1 percent, to 10,405.98. It is up 85 points in three days and is at its highest level since Jan. 20.

The broader Standard & Poor's 500 index rose 2.60, or 0.2 percent, to 1,118.31, and the Nasdaq rose 7.22, or 0.3 percent, to 2,280.79.

Bond prices were little changed. The yield on the benchmark 10-year Treasury note was flat at 3.61 percent from late Monday.

The dollar mostly fell against other major currencies. Gold rose.

Crude oil rose 98 cents to $79.68 per barrel on the New York Mercantile Exchange.

Stocks rose Monday after American International Group agreed to sell its Asian life insurance business for $35.5 billion. The bailed-out insurer is selling off divisions to help repay government loans.

A bad report on jobs could puncture the improved mood because unemployment is seen by many analysts as the biggest obstacle to a sustained recovery. The Labor Department's February employment report is due Friday. It is expected to show the unemployment rate rose to 9.8 percent from 9.7 percent in January.

Many investors remain cautious, but there is also a chance some are becoming complacent. The Chicago Board Options Exchange's Volatility Index, which is known as the market's fear gauge, fell below 19 during trading Tuesday. A drop in the VIX suggests investors are expecting fewer swings in the market. The VIX hadn't gone below 19 since Jan. 21, two days after the Dow began to fall from a 15-month high.

Among stocks, shares of Terra rose $4.47, or 10.9 percent, to $45.67, while CF Industries fell $1.12, or 1 percent, to $106.42.

Dow Chemical rose 19 cents, or 0.7 percent, to $28.88.

Qualcomm rose $2.37, or 6.7 percent, to $37.93.

More than two stocks rose for every one that fell on the New York Stock Exchange where volume came to 1.1 billion shares compared with 966.6 million Monday.

The Russell 2000 index of smaller companies rose 5.66, or 0.9 percent, to 648.31.

Britain's FTSE 100 rose 1.5 percent, while Germany's DAX index and France's CAC-40 each gained 1.1 percent. Japan's Nikkei stock average rose 0.5 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Greece's long-awaited austerity plan wasn't enough for participants to forget about the fiscal troubles that still face the likes of Spain and Portugal. That left the stock market unable to sustain solid, broad-based gains. 

Led by the materials sector, stocks made their way to fresh one-month highs. The materials sector had been up as much as 2.0% before it saw that gain cut in half. Still, materials saw the best gain of any major sector as a combination of momentum and a weaker dollar provided it with support. 

Early gains in stocks unraveled Wednesday after the Federal Reserve signaled that the economic recovery will be slow.

Stocks ended mixed after the Fed's announcement that economic activity has improved in nine of its 12 districts but that the gains are "modest."

The report dampened enthusiasm that followed an upbeat report on services industries and more takeover news. The Dow Jones industrial average fell 9 points. For a second day, the Dow erased its losses for 2010 before surrendering the gains by the close.

*The NYSE DOW closed LOWER -9.22 points -0.09% on Wednesday March 3*
Sym. Last......... ........Change.......... 
Dow 10,396.76 -9.22 -0.09% 
Nasdaq 2,280.68 -0.11 -0.00% 
S&P 500 1,118.79 +0.48 +0.04% 
30-yr Bond 4.5860% +0.1700 

NYSE Volume 4,475,019,000  (prior day 4,788,575,500)
Nasdaq Volume 2,547,275,000  (prior day 2,790,432,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,533.21 +49.15 +0.90% 
DAX 5,817.88 +41.32 +0.72% 
CAC 40 3,842.52 +30.60 +0.80% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,253.14 +31.30 +0.31% 
Hang Seng 20,876.79 -29.32 -0.14%  
Straits Times 2,782.79 +10.59 +0.38%  

http://finance.yahoo.com/news/Stocks-end-mixed-as-Fed-apf-282359240.html?x=0

*Stocks end mixed as Fed points to slow recovery

Stocks surrender early gains after Federal Reserve sees new signs of slow economic rebound*

By Tim Paradis, AP Business Writer , On Wednesday March 3, 2010, 5:24 pm 

NEW YORK (AP) -- Early gains in stocks unraveled Wednesday after the Federal Reserve signaled that the economic recovery will be slow.

Stocks ended mixed after the Fed's announcement that economic activity has improved in nine of its 12 districts but that the gains are "modest."

The report dampened enthusiasm that followed an upbeat report on services industries and more takeover news. The Dow Jones industrial average fell 9 points. For a second day, the Dow erased its losses for 2010 before surrendering the gains by the close.

Stocks had been up for three straight days so some slowdown wasn't surprising. Major stock indexes stand at their highest levels since mid-January, when the Standard & Poor's 500 index began a 9 percent drop on concerns that the market was getting too far ahead of the still-struggling economy.

The market got an early boost Wednesday from a report that the services industries grew at the fastest rate in two years last month. Growth in services industries is seen as crucial for a rebound. The Institute for Supply Management's services index for February rose to 53 from 50.5 in January. Economists had forecast that the index would hit 51.

More corporate dealmaking also helped stocks, as occurred earlier in the week. Acquisitions signal that businesses are confident in the direction of the economy. In the latest deal, private equity firm Elliott Associates offered to buy the 91.5 percent of software maker Novell Inc. that it doesn't already own.

Separately, a report on the labor market came in as expected. Payroll company ADP said employers cut 20,000 jobs last month.

The ADP report is seen an early indicator of the government's closely watched monthly employment report, though there are often wide variations. The Labor Department is expected to report on Friday that the unemployment rate edged up to 9.8 percent last month and that employers cut 50,000 jobs. The struggling labor market is still one of the biggest concerns for investors.

But the Fed's afternoon report raised concerns that the recovery will be slow because of weak demand for loans and a mostly soft job market.

Tom Samuels, manager of the Palantir Fund in Houston, said he isn't seeing enough of an improvement in economic numbers to justify confidence in the recovery.

"We're coasting along from one day to the next and from one week to the next but we're really not getting any sense that things are being structurally fixed," Samuels said. His fund bets certain stocks will rise while others will fall.

The Dow fell 9.22, or 0.1 percent, to 10,396.76. It had risen nearly 64 points during trading.

The broader S&P 500 index rose 0.48, or less than 0.1 percent, to 1,118.79, its highest close since Jan. 20. The Nasdaq composite index slipped 0.11, or less than 0.1 percent, to 2,280.68.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.63 percent from 3.61 percent late Tuesday.

The dollar was mixed against other major currencies. Gold rose.

Crude oil rose $1.19 to $80.87 per barrel on the New York Mercantile Exchange.

Recent dealmaking has raised hopes that businesses will boost spending. Insurer American International Group agreed earlier in the week to sell its important Asian life insurance business to Britain's Prudential for $35.5 billion. On Tuesday, Dow Chemical Co. sold its Styron plastics business to private equity firm Bain Capital for $1.63 billion.

Nick Kalivas, vice president of financial research at MF Global in Chicago, said the merger news has reassured investors that stocks aren't overpriced because companies are still willing to pursue deals.

"It's causing people to get excited about owning stocks and I think it shows that there might be some value here," Kalivas said.

Meanwhile, austerity measures announced by Greece on Wednesday allayed some concerns about the global economy. Investors have been trying to determine whether problems there will spill over to other economies.

Among stocks, Novell jumped $1.33, or 28 percent, to $6.08.

Health care stocks fell after a drug being developed by Pfizer Inc. and Medivation Inc. for Alzheimer's disease failed in a late-stage trial. Pfizer fell 28 cents, or 1.6 percent, to $17.32. It was the biggest loser among the 30 stocks that make up the Dow.

Medivation plunged $27.15, or 67.5 percent, to $13.10 a day after setting a 12-month high.

The drop in health stocks came after President Barack Obama called on Congress to pass his latest health care package, which incorporates some Republican proposals.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where volume came to 936.7 million shares compared with 1.1 billion Tuesday.

The Russell 2000 index of smaller companies rose 0.95, or 0.2 percent, to 649.26.

Britain's FTSE 100 rose 0.9 percent, Germany's DAX gained 0.7 percent, and France's CAC-40 rose 0.8 percent. Japan's Nikkei stock average rose 0.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Trade was subdued for most of the session as participants exercised caution ahead of the February nonfarm payrolls report on Friday and a stronger dollar acted as an overhang. However, financial issues helped lift the broader market to a modest gain late in the session. 

With the government's official jobs report scheduled for tomorrow morning, participants paid little attention to news that initial jobless claims for the week ended Feb. 27 totaled 469,000, which was in-line with the consensus call for 470,000 initial claims. Continuing claims dropped more than expected to 4.50 million. 

In other economic news, pending home sales for January fell 7.6% month-over-month. A 1.0% monthly increase had been expected.

Optimism about the government's February jobs report sent the Dow Jones industrials back into the black for 2010.

Stocks ended Thursday with a moderate advance after managing only small moves for much of the day. Investors seemed to set aside concerns about the day's mixed economic reports and focus instead on the Labor Department's jobs report, due Friday morning.

The monthly snapshot of employment is widely considered to be the most important reading on the economy because a lasting recovery won't be possible if more jobs aren't created.

*The NYSE DOW closed HIGHER +47.38 points +0.46% on Thursday March 4*
Sym. Last......... ........Change.......... 
Dow 10,444.14 +47.38 +0.46% 
Nasdaq 2,292.31 +11.63 +0.51% 
S&P 500 1,122.97 +4.18 +0.37% 
30-yr Bond 4.5560% -0.3000 

NYSE Volume 4,449,004,000  (prior day 4,475,019,000)
Nasdaq Volume 2,149,035,500  (prior day 2,547,275,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,527.16 -6.05 -0.11% 
DAX 5,795.32 -22.56 -0.39% 
CAC 40 3,828.41 -14.11 -0.37% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,145.72 -107.42 -1.05%  
Hang Seng 20,575.78 -301.01 -1.44%  
Straits Times 2,768.70 -14.09 -0.51% 

http://finance.yahoo.com/news/Dow-erases-its-loss-for-2010-apf-461721284.html?x=0

*Dow erases its loss for 2010 ahead of jobs report

Late advance lifts Dow to the plus column for 2010; Traders look ahead to jobs report *

Tim Paradis, AP Business Writer, On Thursday March 4, 2010, 5:18 pm 

NEW YORK (AP) -- Optimism about the government's February jobs report sent the Dow Jones industrials back into the black for 2010.

Stocks ended Thursday with a moderate advance after managing only small moves for much of the day. Investors seemed to set aside concerns about the day's mixed economic reports and focus instead on the Labor Department's jobs report, due Friday morning.

The monthly snapshot of employment is widely considered to be the most important reading on the economy because a lasting recovery won't be possible if more jobs aren't created.

An unexpected drop in pending home sales held the market to a tight range for most of Thursday's trading. The National Association of Realtors said that its index of home sales agreements fell 7.6 percent in January from December. Sales contracts fell to the lowest level since April.

The housing numbers chilled some of the enthusiasm about stronger February sales at many retailers. Abercrombie & Fitch Co., Nordstrom Inc. and Target Corp. all posted monthly sales that topped analysts' expectations. Wal-Mart Stores Inc. raised its dividend 11 percent.

The Labor Department also said that initial jobless claims dipped last week after two straight weeks of unexpected increases. New claims fell to 469,000, better than the 470,000 economists had forecast.

The weekly numbers provided some encouragement ahead of February's employment figures. Friday's report is expected to show that unemployment rose to 9.8 percent from 9.7 percent in January as employers cut 50,000 jobs. But economists also expect slight gains in both average hourly earnings and average hours worked. Increases in these areas often precede a pickup in hiring.

The job market is often one of the last parts of the economy to recovery after a recession. Daniel Penrod, senior industry analyst for the California Credit Union League in Ontario, Calif., said employment gains are needed to stabilize the economy and add to a sense that a recovery is occurring.

"It used to be that confidence led into actual employment where I think the reverse is true now," he said. "The job market has been so severe nationally that people are really feeling the lumps."

The Dow rose 47.38, or 0.5 percent, to 10,444.14, its highest close since Jan. 20. The Dow is now up 16 points, or 0.2 percent, for 2010.

The Standard & Poor's 500 index rose 4.18, or 0.4 percent, to 1,122.97. It is up 0.7 percent for the year.

The Nasdaq composite index rose 11.63, or 0.5 percent, to 2,292.31 and is up 1 percent in 2010.

Three stocks rose for every two that fell on the New York Stock Exchange, where volume came to 960.8 million shares compared with 936.7 million shares traded at the same point Wednesday.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.61 percent from 3.63 percent late Wednesday.

Crude oil fell 66 cents to settle at $80.21 per barrel on the New York Mercantile Exchange.

The dollar mostly rose against other major currencies. Gold fell.

Among retailers, Abercrombie jumped $5.28, or 14.6 percent, to $41.52, while Nordstrom rose 51 cents, or 1.4 percent, to $38.32. Target advanced $1.26, or 2.4 percent, to $52.94. Wal-Mart rose 30 cents, or 0.6 percent, to $53.96.

Bank stocks rose after the Treasury Department took in a record $1.54 billion from the sale of warrants it received from Bank of America Corp. in exchange for support during the financial crisis. Warrants allow the owner to buy a stock in the future at a certain price. The demand for warrants signals that investors expect the stock to go higher. Shares of Bank of America rose 3 cents to $16.40.

The Russell 2000 index of smaller companies rose 3.21, or 0.5 percent, to 652.47.

Overseas, Britain's FTSE 100 fell 0.1 percent, while Germany's DAX index and France's CAC-40 each fell 0.4 percent. Japan's Nikkei stock average fell 1.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

*The Dow Jones industrial average closed the week up 240.94 points, or 2.3 percent, at 10,566.20. The Standard & Poor's 500 index rose 34.21, or 3.1 percent, to 1,138.70. The Nasdaq composite index rose 88.09, or 3.9 percent, to 2,326.35.*

A smaller-than-expected decline in February nonfarm payrolls provided participants with a reason to bid stocks broadly higher, but financials booked the best gains for the second straight session. 

Stocks spent the entire session in higher ground. The positive mood on Wall Street was reinforced by the latest Nonfarm Payrolls Report, which showed that just 36,000 jobs were lost in February when a decline of 68,000 had been widely expected. Additionally, the unemployment rate for February came in at 9.7%, which is below the 9.8% rate that had been widely forecast and unchanged from the January rate.

Stocks jumped Friday after the government's employment report showed fewer jobs were cut in February than expected.

Major stock indexes climbed more than 1 percent, including the Dow Jones industrial average, which rose 122 points to add to strong gains for the week. Treasury prices slid as demand for safe havens eased.

The Labor Department's monthly report is seen as the most important measure of the economy's health. A drop in unemployment is necessary for the economy to make a sustained rebound.

*The NYSE DOW closed HIGHER +122.06points +1.17% on Firday March 5*
Sym. Last......... ........Change.......... 
Dow 10,566.20 +122.06 +1.17% 
Nasdaq 2,326.35 +34.04 +1.48% 
S&P 500 1,138.69 +15.72 +1.40% 
30-yr Bond 4.6390% +0.8300 

NYSE Volume 4,814,204,500  (prior day 4,449,004,000)
Nasdaq Volume 2,367,324,750  (prior day 2,149,035,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,599.76 +72.60 +1.31% 
DAX 5,877.36 +82.04 +1.42% 
CAC 40 4,012.91 -1.06 -0.03% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,368.96 +223.24 +2.20% 
Hang Seng 20,787.97 +212.19 +1.03% 

http://finance.yahoo.com/news/Stocks-jump-after-apf-3746166180.html?x=0

*Stocks jump after better-than-expected jobs report

Stocks jump after report shows employers cut fewer jobs than forecast in Feb.; Dow gains 122 *
Stephen Bernard, AP Business Writer, On Friday March 5, 2010, 6:08 pm 

NEW YORK (AP) -- Stocks jumped Friday after the government's employment report showed fewer jobs were cut in February than expected.

Major stock indexes climbed more than 1 percent, including the Dow Jones industrial average, which rose 122 points to add to strong gains for the week. Treasury prices slid as demand for safe havens eased.

The Labor Department's monthly report is seen as the most important measure of the economy's health. A drop in unemployment is necessary for the economy to make a sustained rebound.

The better-than-expected jobs report helped push oil and other commodities higher on expectations that demand for resources would increase as the economy strengthens. That helped energy and material companies like ExxonMobil Corp. and Chevron Corp.

Meanwhile, Apple Inc. shares reached a new high after the company said its iPad tablet computer will hit store shelves on April 3.

The market extended its gains in the final hour of trading after the Federal Reserve reported that consumer borrowing rose in January to break a record 11 straight months of drops. The gain came from an increase in auto loans.

The report raised expectations that consumers are starting to increase their spending. On Thursday, many retailers posted stronger sales for January.

But it was the jobs report that gave the market an early push. Employers cut 36,000 jobs last month, better than the 50,000 cuts forecast by economists polled by Thomson Reuters. The unemployment rate held steady at 9.7 percent. Economists were expecting it to rise to 9.8 percent.

Friday's gains followed a jump at the start of the week on a handful of corporate takeover announcements. Traders often look to buyouts as a sign of confidence among corporate leaders. Though employers aren't yet adding full-time staff, jobs growth is fundamental to a recovery because it puts money in more workers pockets, allowing them to increase spending.

"We haven't won the game yet," said James Meyer, chief investment officer at Tower Bridge Advisors. "We're just getting back to neutral. You can't get from negative to positive without crossing zero."

The Dow rose 122.06, or 1.2 percent, to 10,566.20, its highest close since Jan. 20. It was the Dow's best point and percentage gain since Feb. 16.

The Standard & Poor's 500 index rose for a sixth straight day, rising 15.73, or 1.4 percent, to 1,138.70. The Nasdaq composite index added 34.04, or 1.5 percent, to 2,326.35.

Five stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume rose to 4.2 billion shares from 4 billion Thursday.

For the week, the Dow rose 2.3 percent, its best advance since the week ended Feb. 19. The S&P 500 index jumped 3.1 percent and the Nasdaq rose 3.9 percent. The indexes erased their losses for 2010 during the week.

The coming week brings the one-year anniversary of the market's rebound. On March 9, 2009, major stock indexes tumbled to 12-year lows as concern grew about the economy. Citigroup Inc.'s report that it had made money in early 2009 helped jump-start the recovery.

Meanwhile, bond prices fell on signs of the improving economy. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.69 percent from 3.61 percent late Thursday.

The prospect of future job growth also encouraged traders. Temporary workers, which are often seen as a precursor to employers adding full-time staff, rose 48,000 last month. Average hourly earnings rose by 3 cents to $22.46.

The Labor Department wouldn't quantify how severe snowstorms that pummeled the East Coast last month might have had swayed the report. Economists estimated before the report that the storms could inflate job losses by 100,000 or more.

Jerry Harris, president and chief investment officer at Sterne Agee Asset Management, said March's results could be even better because the bad weather likely made February's job losses worse.

Energy companies were among the biggest winners on the day as oil rose $1.29 to $81.50 a barrel. Chevron rose $1.22 to $74.30, while ExxonMobil rose $1.07 to $66.47.

Financial stocks also got a boost from the improved employment numbers, which might lead to fewer loan losses. A recovery in the labor market is "the most critical factor" in getting more people to keep up with their debts, said Edward Crotty, chief investment officer at Davidson Investment Advisors.

Bank of America Corp. rose 30 cents to $16.70, while JPMorgan Chase & Co. climbed 89 cents to $42.81.

After announcing the launch date for the iPad, Apple rose $8.24, or 3.9 percent, to $218.95. It rose as high as $219.70 during trading.

The dollar fell against other major currencies, while gold rose.

The Russell 2000 index of smaller companies rose 13.55, or 2.1 percent, to 666.02.

Overseas markets rose on the U.S. jobs report, and after a successful bond sale by debt-burdened Greece. Budget and debt problems in Greece have dogged the markets in recent months.

Britain's FTSE 100 rose 1.3 percent, Germany's DAX index gained 1.4 percent, and France's CAC-40 rose 2.1 percent. Japan's Nikkei stock average surged 2.2 percent.

The Dow Jones industrial average closed the week up 240.94 points, or 2.3 percent, at 10,566.20. The Standard & Poor's 500 index rose 34.21, or 3.1 percent, to 1,138.70. The Nasdaq composite index rose 88.09, or 3.9 percent, to 2,326.35.

The Russell 2000 index, which tracks the performance of small company stocks, rose 37.46, or 6 percent, for the week to 666.02.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,726.82, up 383.65, or 3.4 percent.

4507


----------



## bigdog

Source: http://finance.yahoo.com

Listless and lackluster action kept participants on the sidelines as stocks consolidated their recent gains. A lack of market-moving headlines and other trading catalysts also made for minimal participation. 

Investors and traders showed little willingness to step back into the stock market after it advanced more than 3% last week. In turn, hardly 900 million shares exchanged hands on the NYSE in what was this year's second-smallest level of volume. 

In addition to the light trade, action was also rather quiet and stocks spent most of the session stuck in a narrow range. There were neither economic data nor corporate news items to act as movers. 

Stocks ended mixed after a new round of mergers and acquisitions raised some hope for the economy.

Financial shares rose after insurer American International Group Inc. reached a deal to sell one of its major foreign divisions to MetLife Inc. for $15.5 billion. MetLife had confirmed last month it was in talks with AIG to buy the unit known as Alico.

It's the second major sale AIG has made this month as part of its plans to trim operations, shed assets and repay more than $100 billion in government bailout money it received during the credit crisis.

*The NYSE DOW closed LOWER -13.68 points -0.13% on Monday March 8*
Sym. Last......... ........Change.......... 
Dow 10,552.52 -13.68 -0.13% 
Nasdaq 2,332.21 +5.86 +0.25% 
S&P 500 1,138.50 -0.19 -0.02% 
30-yr Bond 4.6720% +0.3300 

NYSE Volume 4,249,254,000  (prior day 4,814,204,500)
Nasdaq Volume 2,187,086,250  (prior day 2,367,324,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,606.72 +6.96 +0.12% 
DAX 5,875.91 -1.45 -0.02% 
CAC 40 3,903.54 -6.88 -0.18% 


*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,585.92 +216.96 +2.09%  
Hang Seng 21,196.87 +408.90 +1.97%  
Straits Times 2,834.57 +44.28 +1.59% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks trade flat after more corporate dealmaking

Stocks end mixed after corporate dealmaking boosts financials; health care stocks fall *

Stephen Bernard and Tim Paradis, AP Business Writers, On Monday March 8, 2010, 4:37 pm 

NEW YORK (AP) -- Stocks ended mixed after a new round of mergers and acquisitions raised some hope for the economy.

Financial shares rose after insurer American International Group Inc. reached a deal to sell one of its major foreign divisions to MetLife Inc. for $15.5 billion. MetLife had confirmed last month it was in talks with AIG to buy the unit known as Alico.

It's the second major sale AIG has made this month as part of its plans to trim operations, shed assets and repay more than $100 billion in government bailout money it received during the credit crisis.

Also, Royal Dutch Shell and PetroChina offered to buy Australia's Arrow Energy Ltd. for $3 billion in cash and stock. Royal Dutch Shell already owns a 10 percent stake in Arrow's international business.

Meanwhile, health care stocks fell after President Barack Obama called for passage of health care legislation.

The modest moves in the overall market follow a jump in stocks Friday. The government's February jobs report was stronger than expected.

According to preliminary calculations, the Dow Jones industrial average fell 13.68, or 0.1 percent, to 10,552.52. The Standard & Poor's 500 index slipped 0.20, or less than 0.1 percent, to 1,138.50. That breaks a streak of six straight advances.

The Nasdaq composite index rose 5.86, or 0.3 percent, to 2,332.21, its highest close since September 2008.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.72 percent from 3.69 percent late Friday.

The dollar rose against other major currencies, while gold fell.

In corporate news, McDonald's Corp. said Monday that sales at restaurants open at least a year climbed 4.8 percent in February on strong overseas growth and a small rise in U.S. sales. McDonald's rose $1.45, or 2.3 percent, to $65.12.

With little economic data due during the first half of this week, traders will be looking for other cues to give the market direction.

Investors will get a handful of economic reports toward the end of the week that should provide some insight into the health of the economy. Reports on wholesale and business inventories, retail sales and consumer sentiment are all scheduled for release beginning Wednesday and running through the rest of the week.

Major indexes all jumped more than 1 percent on Friday after the Labor Department said employers cut fewer jobs in February than predicted. The unemployment rate also held steady at 9.7 percent. Economists polled by Thomson Reuters forecast it would rise.

The encouraging signs in the report have investors hopeful that employers will start to add jobs in the coming months. High unemployment has been a major stumbling block to a sustained recovery.

Among stocks, AIG rose $1.02, or 3.6 percent, to $29.10, while MetLife rose $1.98, or 5.1 percent, to $40.90.

Managed care companies fell after Obama pushed for changes to health care and criticized insurance companies.

UnitedHealth fell 64 cents, or 1.9 percent, to $33.10. Aetna Inc. fell 16 cents, or 0.5 percent, to $31.22.

The Russell 2000 index of smaller companies rose 1.09, or 0.2 percent, to 667.11.

Three stocks rose for every two that fell on the New York Stock Exchange, where volume came to 906.6 million shares compared with 1.1 billion Friday.

Overseas, Britain's FTSE 100 rose 0.1 percent, Germany's DAX index fell less than 0.1 percent, and France's CAC-40 lost 0.2 percent. Japan's Nikkei stock average rose 2.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks made their way to solid gains after a soft start, but pressure picked up after stocks failed to extend the advance in afternoon trade. Still, the major indices finished the session modestly higher. 

A lack of upbeat headlines and a stronger dollar left buyers with little reason to get back into the action. The tepid tone was reflective of broader sentiment, which has some in fear that the stock market may be overextended after its rally in the past year -- the S&P 500 is up nearly 70% since its multiyear closing low reached exactly one year ago. While no one wants to be in a vulnerable position if a correction takes place, few want to risk missing out on further gains. 

Stocks are also just 1% off of their 52-week highs, which were reached in mid-January. A stronger dollar has been a hurdle for stocks to return to that mark, though. The buck advanced a mere 0.1% this session, but that was only after it pared its gain. Initially, the greenback garnered support as the euro and British pound were pressured by news that analysts at Fitch kept a Negative outlook in place for Portugal's AA rating and that Britain's plan to halve its deficit in four years was determined to be too slow. 

A year after the stock market began its comeback from 12-year lows, investors are looking for the next big thing.

Stocks have lost some of the momentum that propelled the Dow Jones industrial average up 61.4 percent from its close of 6,547 on March 9, 2009. That's natural -- bull markets tend to slow down as they head into their second year. But the lethargic pace of the economic recovery has also been a bit of a drag on stocks. And so investors are waiting for signs that the economy is ready to put up some solid, sustainable growth numbers.

The most likely trigger: job growth. Investors need to see a Labor Department report that says employers are creating more jobs than they're cutting.

*The NYSE DOW closed HIGHER +11.86 points +0.11%  on Tuesday March 9*
Sym. Last......... ........Change.......... 
Dow 10,564.38 +11.86 +0.11% 
Nasdaq 2,340.68 +8.47 +0.36% 
S&P 500 1,140.44 +1.94 +0.17% 
30-yr Bond 4.6770% +0.0500 

NYSE Volume 5,802,309,500  (prior day 4,249,254,000)
Nasdaq Volume 2,559,494,000  (prior day 2,187,086,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,602.30 -4.42 -0.08% 
DAX 5,885.89 +9.98 +0.17% 
CAC 40 3,910.01 +6.47 +0.17% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,567.65 -18.27 -0.17%  
Hang Seng 21,207.55 +10.68 +0.05%  
Straits Times 2,839.54 +4.97 +0.18%

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=7&asset=&ccode=

Tim Paradis, AP Business Writer, On Tuesday March 9, 2010, 4:39 pm 

NEW YORK (AP) -- A year after the stock market began its comeback from 12-year lows, investors are looking for the next big thing.

Stocks have lost some of the momentum that propelled the Dow Jones industrial average up 61.4 percent from its close of 6,547 on March 9, 2009. That's natural -- bull markets tend to slow down as they head into their second year. But the lethargic pace of the economic recovery has also been a bit of a drag on stocks. And so investors are waiting for signs that the economy is ready to put up some solid, sustainable growth numbers.

The most likely trigger: job growth. Investors need to see a Labor Department report that says employers are creating more jobs than they're cutting.

Until then, investors are going to stay cautious. Analysts say the market is likely to move sideways or drift higher, as it's been doing over the past few weeks. Tuesday's trading fit the pattern of modest moves. The Dow rose nearly 12 points. The average is up 1.3 percent so far this year.

But that doesn't mean the market isn't going to have its fitful moments. And it certainly has volatile industries that are expected to move the rest of the market. On Tuesday, the financial companies that led stocks higher in the past year again drove trading. Analysts said financial shares rallied as investors reacted to rumors that the government might prohibit the trades known as short sales in stocks of companies it owns. The government has large stakes in Citigroup Inc., American International Group Inc. and mortgage companies Fannie Mae and Freddie Mac after bailing them out during the 2008 financial crisis.

The market began its ascent last March 10 after Citigroup Inc., the big bank most wounded by the credit crisis and recession, said it had turned a profit. Signs that the housing market was starting to turn around added to the momentum.

At the time, such news, which amounted to glimmers of hope, were enough for investors. With stock prices so much higher now, they want proof.

"A lot of the gains we already enjoyed have been in anticipation of economic progress which has not yet occurred," said Lawrence Creatura, portfolio manager at Federated Clover Investment Advisors.

Besides jobs, investors need to see more strength in the housing market. Traders have been tolerant of recent declines in home sales, but if those numbers don't pick up, the market is likely to become uneasy.

First-quarter earnings reports that will be issued next month need to show continued sales growth. Companies' results for the last three months of 2009 were better than expected. Now the market wants to know that demand, starting with consumers, is rising.

Adam Gould, senior portfolio manager at Direxion Funds in New York, said he will be looking for at least two months of back-to-back gains in job growth and for the unemployment rate to fall below 9 percent to feel more comfortable about the pace of recovery. Unemployment stands at 9.7 percent.

Even if the news improves, just holding the gains of the last year could be tough. Some of the market's big gains in past years were followed by slumps. In the first year of the 1982-87 bull market, the Standard & Poor's 500 index jumped 58 percent. In the second year, the index fell 14.4 percent.

That doesn't mean that's what will happen this time. In 2003, the S&P 500 index rose 26.4 percent. Then, in 2004, it peaked early and fizzled, until a 10.7 percent surge late in the year lifted stocks.

According to preliminary calculations, the Dow on Tuesday rose 11.86, or 0.1 percent, to 10,564.38. The Dow remains 25 percent below its peak of 14,164.53, reached in October 2007.

The S&P 500 index, the barometer favored by professional investors, rose 1.95, or 0.2 percent, to 1,140.45. The index is up 68.6 percent in the past year. Including dividends, it's up about 72 percent. It is still down 27 percent from its high of 1,565.15, also reached in October 2007.

And the Nasdaq composite index rose 8.47, or 0.4 percent, to 2,340.68. The Nasdaq is at an 18-month high but still down by more than half from its peak reached 10 years ago Wednesday. On March 10, 2000, it rose to 5,048.62 at the height of the dot-com bubble.


----------



## bigdog

Source: http://finance.yahoo.com

In the absence of any broader market catalysts, financials and tech issues led the major indices to varied gains in the face of choppy trade. 

This morning's mood was generally subdued, but stocks were able to stage an early advance as financials garnered support in the face of news that some Senate Democrats will propose to expand the Volker Rule with new limits on proprietary trading by banks and nonbank financial firms. 

Scant buying lifted stocks for a second day Wednesday after the government reported a drop in companies' inventories.

The Dow Jones industrials rose only 3 points as the market remained in a lull that began on Monday. Many investors stayed on the sidelines amid an absence of news that could influence trading.

The Commerce Department said that wholesale inventories fell 0.2 percent in January after dropping 1 percent in December. Companies' sales rose 1.3 percent, the 10th straight gain. The drop in inventories and the rise in sales suggests that companies are working through inventory to meet demand and will have to begin restocking.

*The NYSE DOW closed HIGHER +2.95 points +2.95 on Wednesday March 10*
Sym. Last......... ........Change.......... 
Dow 10,567.33 +2.95 +0.03% 
Nasdaq 2,358.95 +18.27 +0.78% 
S&P 500 1,145.61 +5.17 +0.45% 
30-yr Bond 4.6890% +0.1200 

NYSE Volume 6,089,594,500  (prior day 5,802,309,500)
Nasdaq Volume  2,496,931,750 (prior day 2,559,494,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,640.57 +38.27 +0.68% 
DAX 5,936.72 +50.83 +0.86% 
CAC 40 3,943.55 +33.54 +0.86% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,563.92 -3.73 -0.04% 
Hang Seng 21,208.29 +0.74 +0.00%  
Straits Times 2,862.29 +22.75 +0.80% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks rise after inventories fall and sales gain

Stocks inch higher after wholesale inventories slip and sales climb; Dow edges up 3 points *

Tim Paradis, AP Business Writer, On Wednesday March 10, 2010, 5:10 pm 

NEW YORK (AP) -- Scant buying lifted stocks for a second day Wednesday after the government reported a drop in companies' inventories.

The Dow Jones industrials rose only 3 points as the market remained in a lull that began on Monday. Many investors stayed on the sidelines amid an absence of news that could influence trading.

The Commerce Department said that wholesale inventories fell 0.2 percent in January after dropping 1 percent in December. Companies' sales rose 1.3 percent, the 10th straight gain. The drop in inventories and the rise in sales suggests that companies are working through inventory to meet demand and will have to begin restocking.

The report was the latest bit of economic news to help nudge stocks higher. The numbers on the economy haven't been strong enough to galvanize traders because many improvements are already reflected in stock prices.

Stocks have been drifting higher this week in light trading volume. That signals that there isn't much conviction underpinning the market's climb. The Labor Department's report that employers cut fewer jobs than expected in February sent the Dow up 122 on Friday but its moves since then have been modest.

Reports on weekly jobless claims, retail sales and consumer sentiment will be released in the coming days and could give investors a better sense of where the economy stands.

Investors were also cautious ahead of an inflation report in China. Traders speculated that the report, due Thursday, could show that prices are rising quickly as the economy there continues to grow at a fast pace. If prices jump, the Chinese central bank might boost raise interest rates. The concern is that higher rates in China would mean a slowdown in the global recovery.

The Dow and the Standard & Poor's 500 index have also been flirting with the 15-month highs set in January, making investors hesitant to place big bets.

Alan Valdes, vice president at Hilliard Lyons in New York, said traders aren't finding enough to power the market above its recent highs.

"It's more like a trading range right now," he said.

The Dow rose 2.95, or less than 0.1 percent, to 10,567.33. The S&P 500 index rose 5.16, or 0.5 percent, to 1,145.61.

The Nasdaq composite index rose 18.27, or 0.8 percent, to 2,358.95, an 18-month high. The index is still down by about half from its peak of 5,048.62, which was 10 years ago Wednesday as the tech stock boom crested.

Major indexes all rose modestly Tuesday, the one-year anniversary of the Dow and the S&P 500 index hitting 12-year lows.

Bond prices dipped. The yield on the benchmark 10-year note, which moves opposite its price, rose to 3.73 percent from 3.71 percent late Tuesday.

Gold fell. Crude oil rose 60 cents to settle at $82.09 per barrel on the New York Mercantile Exchange.

Some analysts see the week's subdued trading and light volume as the kind of ominous quiet that can leave investors unprepared for big moves in the market.

Christian Bendixen, director of technical research at Bay Crest Partners in New York, is watching the market from the sidelines because he doesn't have enough evidence to determine which way stocks are likely to head.

"The market just keeps grinding higher and it's amazing. We've hardly had a pause," he said. "We've chosen to sit out a few days and see what happens."

Two stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.1 billion shares, in line with Tuesday.

The Russell 2000 index of smaller companies rose 5.30, or 0.8 percent, to 674.93.

Britain's FTSE 100 rose 0.7 percent, Germany's DAX index and France's CAC-40 each rose 0.9 percent. Japan's Nikkei stock average fell less than 0.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

*Stocks Close Higher; S&P at 17-Month High*

Stocks were confined to a narrow trading range just below the neutral line for most of the session, but a late bounce by financials gave the broader market its ninth gain in ten sessions and helped it close in-line with its 52-week high. 

A subdued mood governed trade in the early going and for most of the afternoon. Participants appeared inclined to sit on recent gains amid a lack of market-moving headlines, including an initial jobless claims count of 462,000 for the week ended Mar. 6. The consensus had called for 460,000 initial claims that had been expected. 

A rally in financial stocks Thursday helped the market extend its grind higher to a third day.

The Standard & Poor's 500 index cleared an important hurdle watched by traders when it closed just above its January peak to set a new 17-month high. That could bring some hesitant buyers into the market.

Financial shares rose after Citigroup Inc. CEO Vikram Pandit said the bank was on a path toward "sustained profitability" as it sells off risky assets. The bank has been the hardest hit by the financial crisis so the upbeat assessment helped boost expectations about the economy. The stock rose 5.6 percent.

*The NYSE DOW closed HIGHER +44.51 points +0.42% on Thursday March 11*
Sym. Last......... ........Change.......... 
Dow 10,611.84 +44.51 +0.42% 
Nasdaq 2,368.46 +9.51 +0.40% 
S&P 500 1,150.24 +4.63 +0.40% 
30-yr Bond 4.6590% -0.3000 

NYSE Volume 5,292,861,000  (prior day 6,089,594,500)
Nasdaq Volume 2,185,938,750  (prior day 2,496,931,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,617.26 -23.31 -0.41% 
DAX 5,928.63 -8.09 -0.14% 
CAC 40 4,012.91 -1.06 -0.03% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,664.95 +101.03 +0.96%  
Hang Seng 21,228.20 +19.91 +0.09%  
Straits Times 2,873.91 +11.62 +0.41% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks climb for 3rd day as financial shares rise

Stocks rise after Citigroup forecast lifts bank shares; S&P 500 index tops January high *

Stephen Bernard and Tim Paradis, AP Business Writers, On Thursday March 11, 2010, 4:48 pm 
NEW YORK (AP) -- A rally in financial stocks Thursday helped the market extend its grind higher to a third day.

The Standard & Poor's 500 index cleared an important hurdle watched by traders when it closed just above its January peak to set a new 17-month high. That could bring some hesitant buyers into the market.

Financial shares rose after Citigroup Inc. CEO Vikram Pandit said the bank was on a path toward "sustained profitability" as it sells off risky assets. The bank has been the hardest hit by the financial crisis so the upbeat assessment helped boost expectations about the economy. The stock rose 5.6 percent.

The climb by financials helped offset concern about a spike in inflation in China. The country said its inflation rate rose to 2.7 percent in February from 1.5 percent in January. A steep rise in prices could force China to raise interest rates. That, in turn, could slow one of the world's fastest-growing economies and put a damper on a global recovery.

Jim Dunigan, managing executive of investments at PNC Wealth Management, said he expects that China will be able to contain prices for now.

"We'll see hints of inflation here and there but I don't think we'll see that problem for a while," he said.

In the U.S., the Labor Department said workers filing for jobless benefits for the first time fell by 6,000 to 462,000 last week. Economists were predicting a slightly bigger drop, according to Thomson Reuters.

The report showed some easing in the labor market, but it didn't point to the increase in hiring that investors want to see. Stocks have traded in a narrow range since the Labor Department said on Friday that employers cut fewer jobs in February than analysts expected. The market is looking for more signs of progress.

The week's quiet trading comes as investors look for more signs about the direction of the economy.

According to preliminary calculations, the Dow Jones industrial average rose 44.51, or 0.4 percent, to 10,611.84. It is down 1.1 percent from its recent high in Jan. 19.

The S&P 500 index advanced 4.63, or 0.4 percent, to 1,150.24, above its Jan. 19 close of 1,150.23. The index now stands at its highest level since Oct. 1, 2008.

The Nasdaq composite index rose 9.51, or 0.4 percent, to 2,368.46 for its sixth straight advance.

Bond prices were little changed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was flat at 3.73 percent.

The dollar was mixed against other major currencies, while gold prices rose.

Crude oil rose 2 cents to settle at $82.11 per barrel on the New York Mercantile Exchange.

David Joy, chief market strategist at RiverSource Investments, said he was impressed that traders shrugged off the increase in China's inflation in a week with few economic reports. Investors often become uneasy when there is little new news. That can lead them to sell stocks.

"The concept of an economic recovery is garnering a little more credibility," he said. "We've arrived at a place where stocks are fairly valued."

The close above the January high by the S&P 500 index could give some of the investors sitting out of the market new incentive to pump money into stocks. The market slipped Monday and inched higher Tuesday and Wednesday. Volume has been light, a sign that traders have limited faith in the market's recent gains.

Corporate dealmaking continued. Oil company BP will pay $7 billion to acquire exploration rights from Devon Energy Corp. BP will acquire rights to explore in Brazil, the U.S. Gulf of Mexico and Caspian Sea.

Increased mergers and acquisitions in recent weeks has been a welcome sign that corporate leaders believe the economy is getting stronger.

Citigroup rose 22 cents, or 5.6 percent, to $4.18. It was a year ago this week, on March 10, 2009, that the Dow and the S&P 500 index began to pull off of 1-year lows after Citigroup said it had been making money.

Two stocks rose for every three that fell on the New York Stock Exchange, where trading volume came to 975.6 million shares, compared with 1.1 billion Wednesday.

The Russell 2000 rose 2.29, or 0.3 percent, to 677.22.

Britain's FTSE 100 fell 0.4 percent, Germany's DAX index slipped 0.1 percent, and France's CAC-40 fell 0.4 percent. Japan's Nikkei stock average rose 1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 58.49 points, or 0.6 percent, at 10,624.69. The Standard & Poor's 500 index rose 11.29, or 1 percent, to 1,149.99. The Nasdaq composite index rose 41.31, or 1.8 percent, to 2,367.66.

Stocks set a fractionally improved 52-week high in the early going, but then spent the rest of the session stuck in a choppy sideways trade as a disappointing consumer sentiment survey weighed on the mood of participants. 

Momentum from four straight gains helped position stocks for a positive start this morning. A weaker dollar also helped -- it traded with a marked loss for the entire session as the euro and British pound garnered support amid news that industrial production in Europe spiked a sharper-than-expected 1.7% in January. A recommendation from analysts at Goldman Sachs to buy the euro also helped the currency. The dollar closed down 0.6%

Mixed economic reports held the stock market to only modest moves Friday but gains for the week were strong.

Uneven figures on retail sales and consumer confidence gave investors little new insight into the economy.

The reports weren't enough to propel the market higher a day after the Standard & Poor's 500 index closed at its highest level in 17 months. That index slipped Friday, but the Dow Jones industrial average tacked on nearly 13 points.

*The NYSE DOW closed HIGHER +12.85 points +0.12% on Friday March 12*
Sym. Last......... ........Change.......... 
Dow 10,624.69 +12.85 +0.12% 
Nasdaq 2,367.66 -0.80 -0.03% 
S&P 500 1,149.99 -0.25 -0.02% 
30-yr Bond 4.6330% -0.2600 

NYSE Volume 5,506,876,500  (prior day 5,292,861,000)
Nasdaq Volume 2,036,014,120  (prior day 2,185,938,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,625.65 +8.39 +0.15% 
DAX 5,945.11 +16.48 +0.28% 
CAC 40 3,927.40 -1.55 -0.04% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,751.26 +86.31 +0.81% 
Hang Seng 21,209.74 -18.46 -0.09% 
Straits Times 2,881.36 +7.45 +0.26% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks end mixed after mixed economic reports 

Stocks end mixed after surprise uptick in retail sales, weaker reading on consumer sentiment *

Tim Paradis and Ieva M. Augstums, AP Business Writers, On Friday March 12, 2010, 6:06 pm 

NEW YORK (AP) -- Mixed economic reports held the stock market to only modest moves Friday but gains for the week were strong.

Uneven figures on retail sales and consumer confidence gave investors little new insight into the economy.

The reports weren't enough to propel the market higher a day after the Standard & Poor's 500 index closed at its highest level in 17 months. That index slipped Friday, but the Dow Jones industrial average tacked on nearly 13 points.

Major stock indicators climbed for the week after investors grew more upbeat about the health of banks. Shares of Citigroup Inc. rose 13.4 percent for the week.

Stocks had been modestly higher at the start of trading Friday after a surprising increase in February retail sales. The Commerce Department said retail sales rose 0.3 percent last month. Analysts had expected a drop.

A weaker report on consumer sentiment disappointed traders. The preliminary Reuters/University of Michigan consumer sentiment index for March fell to 72.5 from 73.6 in late February.

Investors also were displeased with the Commerce Department's report that inventories were unchanged. Economists had forecast an increase. Analysts are hoping that businesses will restock store shelves on a consistent basis, which would be a positive signal for the economy.

The reports come as investors look for more signs about the economy's direction. The market bounced higher in the prior week after the Labor Department said employers cut fewer jobs in February than economists had expected. But trading has been more subdued since.

Neil Menard, principal at Steben & Co. in Rockville, Md., said the market could continue to make incremental gains until investors have a better sense about the job market. He sees little confidence behind stocks' advance the past two weeks.

"There is a lack of conviction in the markets," he said. "Everyone is kind of in wait-and-see mode."

The Dow rose 12.85, or 0.1 percent, to 10,624.69. The broader S&P 500 index slipped 0.25, or less than 0.1 percent, to 1,149.99. The Nasdaq composite index fell 0.80, or less than 0.1 percent, to 2,367.66. It stands at an 18-month high.

For the week, the Dow rose 0.6 percent, the S&P 500 index rose 1 percent and the technology-dominated Nasdaq climbed 1.8 percent.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.70 percent from 3.73 percent late Thursday.

Crude oil fell 87 cents to settle at $81.24 per barrel on the New York Mercantile Exchange.

The dollar mostly fell against other major currencies, while gold prices fell.

Stocks were mixed Monday after insurer American International Group Inc. sold one of its big foreign divisions to MetLife Inc. for $15.5 billion. The market rose Tuesday and Wednesday and posted bigger gains Thursday after Citigroup's CEO said the bank was moving toward "sustained profitability." Citigroup was the hardest hit bank during the financial crisis.

The coming week could provide important signals about the economy. The Federal Reserve's interest rate committee meets Tuesday. Although policymakers are almost certain to leave their target interest rate at a record low of essentially zero, traders will be looking at the policy statement that follows the meeting. Even the slightest shift in the Fed's language on how long interest rates will remain unchanged or on its assessment of the economy likely would move the market. Reports are also due on inflation and regional manufacturing.

Christian Hviid, chief market strategist at Genworth Financial Asset Management in Encino, Calif., said the market's slow ascent during the week was good but that stocks are still up too much in the past month.

"It's better that we move slowly upward than violently up and then see a lot of volatility," he said.

The S&P 500 index is up 8.8 percent from its recent low on Feb. 8. A gain of that size might typically come in a year.

Hviid said the trading volume and activity that comes with next week's expiration of options contracts could shake up the market.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where consolidated volume came to 4.9 billion shares compared with 4.3 billion Thursday.

The Russell 2000 index of smaller companies fell 0.63, or 0.1 percent, to 676.59.

Britain's FTSE 100 rose 0.2 percent, Germany's DAX index rose 0.3 percent, and France's CAC-40 fell less than 0.1 percent. Japan's Nikkei stock average rose 0.8 percent.

Augstums reported from Charlotte, N.C.

The Dow Jones industrial average closed the week up 58.49 points, or 0.6 percent, at 10,624.69. The Standard & Poor's 500 index rose 11.29, or 1 percent, to 1,149.99. The Nasdaq composite index rose 41.31, or 1.8 percent, to 2,367.66.

The Russell 2000 index, which tracks the performance of small company stocks, rose 10.57, or 1.6 percent, for the week to 676.59.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,856.51, up 129.69, or 1.1 percent.

5072


----------



## bigdog

Source: http://finance.yahoo.com

There were plenty of headlines today, but participants were focused on the upcoming FOMC policy statement. Uncertainty ahead of the directive left stocks to trade listlessly for most of the session, but a late rally helped stocks finish near session highs. 

Though it closed near its best level, the stock market finished flat for the session as the S&P 500 got hung up on the 1150 line in the final few minutes of trade. The line, which marks a 52-week closing high for the S&P 500, also acted as a source of resistance in the early going. 

Investors turned cautious Monday ahead of the Federal Reserve's meeting on interest rates.

Major stock indexes closed narrowly mixed after trading lower for most of the day. An analyst upgrade of Wal-Mart Stores Inc. helped lift the Dow Jones industrial average by about 18 points to its fifth straight gain.

Investors will be looking to the Fed's statement that follows its meeting Tuesday for clues about the economic recovery and the central bank's plans for interest rates. Policymakers are almost certain to keep the Fed's benchmark rate unchanged at near zero.

*The NYSE DOW closed HIGHER +17.46 points +0.16% on Monday March 15*
Sym. Last......... ........Change.......... 
Dow 10,642.15 +17.46 +0.16% 
Nasdaq 2,362.21 -5.45 -0.23% 
S&P 500 1,150.51 +0.52 +0.05% 
30-yr Bond 4.6360% +0.0300 

NYSE Volume 4,703,120,500  (prior day 5,506,876,500)
Nasdaq Volume 1,912,510,120  (prior day 2,036,014,120)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,593.85 -31.80 -0.57% 
DAX 5,903.56 -41.55 -0.70% 
CAC 40 3,890.91 -36.49 -0.93% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,751.98 +0.72 +0.01%  
Hang Seng 21,079.10 -130.64 -0.62%  
Straits Times 2,874.33 -7.03 -0.24%  

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks end mixed ahead of Fed's rate meeting

Stocks end narrowly mixed ahead of Federal Reserve meeting; upgrade of Wal-Mart lifts Dow *

Tim Paradis, AP Business Writer, On Monday March 15, 2010, 6:11 pm 

NEW YORK (AP) -- Investors turned cautious Monday ahead of the Federal Reserve's meeting on interest rates.

Major stock indexes closed narrowly mixed after trading lower for most of the day. An analyst upgrade of Wal-Mart Stores Inc. helped lift the Dow Jones industrial average by about 18 points to its fifth straight gain.

Investors will be looking to the Fed's statement that follows its meeting Tuesday for clues about the economic recovery and the central bank's plans for interest rates. Policymakers are almost certain to keep the Fed's benchmark rate unchanged at near zero.

While investors have been factoring in an eventual rate hike, any signs that the move will be made sooner rather than later could hurt stocks.

"The market is hoping that they will give us some sort of timeline as to when they will begin tightening monetary policy. I don't think that's very likely," said Scot Johnson, senior client portfolio manager with Invesco Fixed Income in Houston.

The market's cautious tone gave a boost to safe investments like the dollar. Its advance drove down energy prices and, in turn, shares of energy companies.

Some of Monday's selling came in response to economic developments in China. Statements from Chinese officials about the nation's currency fed new concerns that China's efforts to slow its economy and curb inflation would hurt a global recovery.

The Dow rose 17.46, or 0.2 percent, to 10,642.15, its highest close since Jan. 19. It was the Dow's 10th advance in 12 trading days.

The Standard & Poor's 500 index rose 0.52, or 0.1 percent, to 1,150.51. The index is at its highest level since Oct. 1, 2008.

The technology-dominated Nasdaq composite index fell 5.45, or 0.2 percent, to 2,362.21.

Bond prices moved in a tight range before the Fed meeting. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was unchanged at 3.70 percent from late Friday.

The dollar rose against most other major currencies. Gold prices also rose.

Crude oil fell $1.44 to settle at $79.80 per barrel on the New York Mercantile Exchange. A stronger dollar makes energy prices more expensive to foreign buyers. That, in turn, reduces demand and hits prices.

Trading began on a down note after credit ratings agency Moody's said that debt loads are stretched in the U.S. and Britain. The countries carry the top "AAA" rating. And a drop in the rating would make it more expensive for the government to borrow money.

In economic news, a report showed that manufacturing activity in New York has slowed less than expected in March. The Empire State manufacturing index fell to 22.9 from 24.9 in February. Economists had predicted a drop to 21.5.

A separate report found that industrial production unexpectedly rose in February. The Fed said output from the nation's factories, mines and utilities rose 0.1 percent, while economists polled by Thomson Reuters had forecast a drop in activity. It was the eighth consecutive month of growth, showing the industry is recovering from the recession.

Investors sold financial stocks ahead of an afternoon proposal from Sen. Chris Dodd to overhaul financial regulations. Dodd is a Democrat from Connecticut and chairman of the Senate Banking Committee. Financial shares pulled off their lows after the plan was announced but still ended the day with losses.

The bill would boost the government's ability to dismantle big financial companies whose collapse could threaten the economy. It also would require that the industry pay for its failures. The plan also would have the Fed write rules over consumer lending.

Shares of Citigroup Inc. fell 8 cents, or 2 percent, to $3.89. Goldman Sachs Group Inc. fell $1.43, or 0.8 percent, to $173.53.

Energy stocks fell after oil dropped. Exxon Mobil Corp. fell 50 cents to $66.30. Chevron Corp. slipped 15 cents to $73.57.

The broader questions about the speed of the recovery made safer stocks more attractive. Consumer staples stocks rose. Procter & Gamble Co., whose brands include Tide detergent and Gillette razors, rose 38 cents to $63.70.

Wal-Mart rose $1.52, or 2.8 percent, to $55.42 after a Citi Investment Research analyst said the retailer looks like it will cut prices on food, one of the lowest-margin segments in retailing. Wal-Mart is competing with the supermarket companies for market share.

Tech stocks fell on news reports that Google Inc. could soon shut its Internet search operations in China because of disagreements with Chinese officials about censorship. Google fell $16.36, or 2.8 percent, to $563.18.

Three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume came to 4.2 billion shares, compared with 4.9 billion Friday.

The Russell 2000 index of smaller companies fell 2.18, or 0.3 percent, to 674.41.

Britain's FTSE 100 fell 0.6 percent, Germany's DAX index fell 0.7 percent, and France's CAC-40 lost 0.9 percent. Japan's Nikkei stock average rose less than 0.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

A lack of surprises in the latest FOMC policy statement prompted participants to push stocks to fresh 52-week highs. The advance was broad based with advancing issues outnumbering decliners by 4-to-1 in the S&P 500. 

Given the potential impact of the latest FOMC policy statement, market participants were inclined to ignore early economic data. Among the reports, annualized housing starts for February hit a higher-than-expected rate of 575,000 and building permits for February made a smaller-than-expected dip to an annualized rate of 612,000. Meanwhile, import prices made a slightly steeper-than-expected 0.3% monthly dip in February. 

The Federal Reserve's mildly upbeat take on the economy and its plans to hold interest rates low gave stocks a lift.

The Dow Jones industrial average rose almost 44 points Tuesday for its sixth straight gain. Broader indexes also posted bigger advances. Prices for Treasurys rose as the Fed said again that it expects to keep interest rates low for "an extended period."

The Fed also said in a statement following its meeting on monetary policy that businesses are spending "significantly" more on equipment and software. The central bank said that employment is stabilizing. That's a brighter assessment of the job market than at its last meeting in late January. Still, the Fed noted that employers remain reluctant to hire.

*The NYSE DOW closed HIGHER +43.83 points +0.41% on Tuesday March 16*
Sym. Last......... ........Change.......... 
Dow 10,685.98 +43.83 +0.41% 
Nasdaq 2,378.01 +15.80 +0.67% 
S&P 500 1,159.46 +8.95 +0.78% 
30-yr Bond 4.5930% -0.4300 

NYSE Volume 4,985,292,000 (prior day 4,703,120,500)
Nasdaq Volume 2,153,222,750 (prior day 1,912,510,120)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,620.43 +26.58 +0.48% 
DAX 5,970.99 +67.43 +1.14% 
CAC 40 3,938.95 +48.04 +1.23% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,721.71 -30.27 -0.28%  
Hang Seng 21,022.93 -56.17 -0.27%  
Straits Times 2,896.43 +22.10 +0.77%

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks rise after Fed pledges to keep rates low

Stocks climb after Federal Reserve offers modestly more upbeat assessment of the economy *

Tim Paradis, AP Business Writer, On Tuesday March 16, 2010, 5:59 pm 

NEW YORK (AP) -- The Federal Reserve's mildly upbeat take on the economy and its plans to hold interest rates low gave stocks a lift.

The Dow Jones industrial average rose almost 44 points Tuesday for its sixth straight gain. Broader indexes also posted bigger advances. Prices for Treasurys rose as the Fed said again that it expects to keep interest rates low for "an extended period."

The Fed also said in a statement following its meeting on monetary policy that businesses are spending "significantly" more on equipment and software. The central bank said that employment is stabilizing. That's a brighter assessment of the job market than at its last meeting in late January. Still, the Fed noted that employers remain reluctant to hire.

"That's a major statement. That's saying that that's one major risk that's going to remain for a while," said Guy LeBas, chief fixed income strategist of Janney Montgomery Scott in Philadelphia, referring to cautious employers.

Many investors appear relieved that the Fed will hold rates low to help the economy recover. As the economy improves, the Fed will need to start raising rates to stop prices from rising too fast. For now, though, the Fed repeated its belief that inflation is likely to remain subdued.

The Fed's statement hurt the dollar, which draws support from higher rates. The central bank's assessment of the economy also lessened investors' need to find safe places like the dollar to invest in.

The dollar's slide, in turn, raised commodity prices and the stocks of energy and materials companies.

The Fed also said it still plans to stop buying mortgage-backed securities from Fannie Mae and Freddie Mac at the end of the month. Policymakers also noted that construction of homes has been little changed and remains weak.

"We are passing through a historic phase where the Fed's emergency responses to the Great Recession are now behind us and we're incrementally getting back to business as usual," said Robert Dye, senior economist at PNC Financial Services Group in Pittsburgh.

Stocks rose in morning trading after the Standard & Poor's credit rating agency signed off on Greece's plan to slash its budget deficit. That eased concerns that the country will default on debt, and that its problems might hurt the economies of other European nations. The 16 countries that share the euro agreed to help Greece with loans if necessary.

The Dow rose 43.83, or 0.4 percent, to 10,685.98. It's up 1.3 percent in the past six days and stands at its highest level since Jan. 19.

The Standard & Poor's 500 index rose 8.95, or 0.8 percent, to 1,159.46, its highest close since October 2008.

The Nasdaq composite index rose 15.80, or 0.7 percent, to 2,378.01. The Nasdaq is at its highest level since August 2008.

The stock market has been recording steady gains for more than a month. Investors are looking for signs that the recovery is strong enough to justify the recent climb as well as the steep rebound in stocks in the past 12 months.

Dan Dolan, director of Wealth Management Strategies at Select Sector SPDRs in Garden City, N.Y., said the small moves higher are a sign that investors aren't getting overconfident.

"On the margin these little slow movements are constructive. There is still a lot of doubt in the market, which probably is a good thing."

The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.66 percent from 3.70 percent late Monday.

The dollar fell against other major currencies, while gold prices rose.

Crude oil rose $1.90 to $81.70 per barrel on the New York Mercantile Exchange as the dollar fell. A weaker dollar makes commodities less expensive to foreign buyers.

The Fed's decision on mortgage buying came as investors saw new evidence that housing remains weak. The Commerce Department said Tuesday that construction of homes fell 5.9 percent last month to a seasonally adjusted annual rate of 575,000 units. That was slightly better than the rate of 570,000 units economists polled by Thomson Reuters predicted.

January activity was revised higher to a pace of 622,000 units, the best showing in 14 months. But applications for new permits fell 1.6 percent. They are considered a good indicator of future activity.

General Electric Co. gave a boost to the Dow after the company said it would increase its dividend in 2011. The conglomerate cut its payout two years ago as the recession pounded the company's financial arm. GE shares rose 78 cents, or 4.5 percent, to $18.07.

Among energy and materials stocks, Peabody Energy Corp. rose $1.65, or 3.5 percent, to $48.81, while United States Steel Corp. rose $1.80, or 3 percent, to $62.49.

More than two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume rose to 4.5 billion shares from 4.2 billion Monday.

The Russell 2000 index of smaller companies rose 5.17, or 0.8 percent, to 679.58.

Stocks rose in Europe after concern about Greece's financial woes ebbed. Britain's FTSE 100 rose 0.8 percent, Germany's DAX index rose 1.4 percent, and France's CAC-40 rose 1.5 percent. In Asia, Japan's Nikkei stock average fell 0.3 percent.


----------



## marketsurfer

The daily double top on the DJIA looks like its holding??!!


----------



## bigdog

Source: http://finance.yahoo.com

The stock market moved higher for the third straight session; a fresh 52-week high was set along the way. Though the latest advance was broad based, the stock market surrendered part of its gain after an encounter with near-term technical resistance. 

Momentum from recent advances carried over into early action and positioned stocks to extend their gains. The upward trend only seems to have begotten more buying. 

A positive bias among broader market participants has taken volatility down considerably. As such, the Volatility Index dropped to a 22-month low. It closed down 5.0%. 

The stock market has a new formula for success: a slow and steady trek higher.

The Dow Jones industrial average rose 48 points Wednesday in its seventh straight advance to close at a new high for 2010. The gain means the Dow has joined the Standard & Poor's 500 index and Nasdaq composite index in reaching the best levels since 2008.

Stocks reached the new highs by climbing almost in stealth mode. The Dow is up 825 points in about five weeks but the gains haven't come in the 100-point pops that were common during much of the market's climb in the past 12 months. There have only been a few of those big days in recent weeks. Most of the increase has come from gains that don't make headlines, like 45 points, or 10.

*The NYSE DOW closed HIGHER +47.69 points +0.45% on Wednesday March 17*
Sym. Last......... ........Change.......... 
Dow 10,733.67 +47.69 +0.45% 
Nasdaq 2,389.09 +11.08 +0.47% 
S&P 500 1,166.21 +6.75 +0.58% 
30-yr Bond 4.5720% -0.2100 

NYSE Volume 5,581,424,500  (prior day 4,985,292,000)
Nasdaq Volume 2,227,270,500  (prior day 2,153,222,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,644.63 +24.20 +0.43% 
DAX 6,024.28 +53.29 +0.89% 
CAC 40 3,957.89 +18.94 +0.48% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,846.98 +125.27 +1.17%  
Hang Seng 21,384.49 +361.56 +1.72%  
Straits Times 2,919.30 +22.87 +0.79% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks climb after Fed pledges to hold rates low

Stocks rise after Fed says interest rates will stay low; Inflation report boosts confidence *

Tim Paradis, AP Business Writer, On Wednesday March 17, 2010, 6:10 pm EDT 

NEW YORK (AP) -- The stock market has a new formula for success: a slow and steady trek higher.

The Dow Jones industrial average rose 48 points Wednesday in its seventh straight advance to close at a new high for 2010. The gain means the Dow has joined the Standard & Poor's 500 index and Nasdaq composite index in reaching the best levels since 2008.

Stocks reached the new highs by climbing almost in stealth mode. The Dow is up 825 points in about five weeks but the gains haven't come in the 100-point pops that were common during much of the market's climb in the past 12 months. There have only been a few of those big days in recent weeks. Most of the increase has come from gains that don't make headlines, like 45 points, or 10.

The gains could always unravel but it makes for a more sustainable climb when investors mostly nibble at stocks.

"Boring is the new sexy," said Neil Menard, principal at Steben & Co. in Rockville, Md.

The advance is occurring in part because investors' list of worries isn't growing. There are still big problems like unemployment and government deficits but they're not new. And some worries are easing. Greece is taking steps to tackle its debt problems, for example. There had been fear its problems would spoil a global recovery.

The catalyst for this latest increase was the Fed's decision Tuesday to hold its key lending rate at a record low of essentially zero. A government report that prices at the wholesale level fell by the biggest amount in seven months boosted investors' belief that inflation is being contained.

It's clear from the market's climb that investors are feeling more upbeat. Since Feb. 8, the Dow is up 8.3 percent. That's a big gain that might ordinarily take a year to accomplish. But the Dow had slumped 7.6 percent in the month before that, so a rebound isn't surprising.

What's more important is the way the market is climbing: in almost a stairstep pattern. The Dow hasn't swung by more than 100 points in 12 of the past 14 trading days.

The more modest advances signal to some analysts that investors aren't getting overconfident.

"This market is behaving just the way you like to see," said James Meyer, chief investment officer at Tower Bridge Advisors in Conshohocken, Pa.

On Wednesday, the Dow rose 47.69, or 0.5 percent, to 10,733.67. The Dow topped its earlier high for 2010 of 10,725.43 from Jan. 19. It is at its highest point since Oct. 1, 2008. The seven-day streak of gains is its longest since August.

The S&P 500 index rose 6.75, or 0.6 percent, to 1,166.21. That's the highest close since Sept. 30, 2008.

The Nasdaq rose 11.08, or 0.5 percent, to 2,389.09, its best level since Aug. 28, 2008.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.64 percent from 3.66 percent late Tuesday.

The big question for investors is whether the climb can hold. Analysts say some of the apprehension about the economy is keeping the market in check.

Investors are signaling that they expect the economy to strengthen by where they are placing their money. Since last month, the best-performing stocks have been in the basic materials, consumer durables, financial and transportation industries. These tend to do best in stronger economies.

The laggards have been safer businesses that investors flock to during recessions: consumer staples, utilities, telecommunications and health care.

The market will need a steady stream of good news for the advances to continue. The latest gain came after the Labor Department's Producer Price Index fell 0.6 percent in February. Economists polled by Thomson Reuters forecast a drop of 0.2 percent. Fed poliycmakers will be able to hold interest rates lower if they don't have to worry about inflation for now.

David Chalupnik, head of equities at First American Funds, said that the market is likely to climb for the next six weeks as expectations build for corporate earnings for the January-March quarter. As the results come out, investors could start to sell some stocks that posted strong gains ahead of the reports.

But some analysts warn that the recent climb is a sign that investors are letting their guard down.

The Chicago Board Options Exchange's Volatility Index, which is known as the market's fear gauge, on Wednesday fell below 17 for the first time since January. That means there are fewer investors predicting big drops in the market. The VIX was last this low before stocks began a three-week slide.

Axel Merk, portfolio manager at Merk Funds, warned that simultaneous gains in assets from stocks to commodities and even real estate signal that investors are investing indiscriminately.

"That's the clearest bubble indicator there is," he said.

In other trading, the dollar fell against other major currencies. Gold prices rose.

Crude oil rose $1.23 to settle at $82.93 per barrel on the New York Mercantile Exchange.

More than two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 5 billion shares, compared with 4.5 billion Tuesday.

The Russell 2000 index of smaller companies rose 4.40, or 0.7 percent, to 683.98.

Britain's FTSE 100 gained 0.4 percent, Germany's DAX index rose 0.9 percent, and France's CAC-40 climbed 0.5 percent. Japan's Nikkei stock rose 1.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Action was choppy and lackluster this session, but the Dow still mustered enough support to make a fresh 52-week high. Meanwhile, the broader market muddled along with a moderate loss for most of the session before it managed to make a flat finish. 

Support for blue chips helped drive the Dow to a moderate gain, which put it at its best level since October 2008. Advancing issues outnumbered decliners by 2-to-1 in the Dow. Caterpillar (CAT 59.77, -0.45) was a laggard in the group after it announced disappointing monthly sales metrics for February. 

Major stock indexes ended mixed Thursday on more evidence that the economy is regaining strength at a slow pace.

The Dow Jones industrial average rose for an eighth straight day, its longest unbroken climb since August. The Dow gained 46 points while broader indexes were little changed.

Reports indicated that inflation remains in check and manufacturing is growing. The government said, however, that first-time claims for unemployment benefits only inched lower.

*The NYSE DOW closed HIGHER +45.50 points +0.42% on Thursday March 18*
Sym. Last......... ........Change.......... 
Dow 10,779.17 +45.50 +0.42% 
Nasdaq 2,391.28 +2.19 +0.09% 
S&P 500 1,165.82 -0.39 -0.03% 
30-yr Bond 4.5890% +0.1700 

NYSE Volume 4,780,323,000  (prior day 5,581,424,500)
Nasdaq Volume 2,091,388,620  (prior day 2,227,270,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,642.62 -2.01 -0.04% 
DAX 6,012.31 -11.97 -0.20% 
CAC 40 3,938.18 -19.71 -0.50% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,744.03 -102.95 -0.95%  
Hang Seng 21,330.67 -53.82 -0.25%  
Straits Times 2,913.94 -5.36 -0.18% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks end mixed after price, jobs reports

Stocks close mixed after reports on inflation, jobs, leading economic indicators; Dow adds 46 *

Stephen Bernard and Tim Paradis, AP Business Writers, On Thursday March 18, 2010, 6:03 pm 

NEW YORK (AP) -- Major stock indexes ended mixed Thursday on more evidence that the economy is regaining strength at a slow pace.

The Dow Jones industrial average rose for an eighth straight day, its longest unbroken climb since August. The Dow gained 46 points while broader indexes were little changed.

Reports indicated that inflation remains in check and manufacturing is growing. The government said, however, that first-time claims for unemployment benefits only inched lower.

The Labor Department said its Consumer Price Index was unchanged in February and that initial jobless claims fell last week. Meanwhile, the Philadelphia Federal Reserve said manufacturing in its region increased this month. The Conference Board, a private research group, said its index of leading indicators rose at a slow pace last month.

"The market has been grinding higher on what has been benignly positive news," said Alan Gayle, senior investment strategist for RidgeWorth Investments. "There is a growing sense the economy is plodding along in the right direction."

Renewed concern about economic troubles in Greece kept the gains in check. The country said it might turn to the International Monetary Fund for support if European leaders can't agree to a bailout plan next week.

Stocks have been in a steady climb for about five weeks as economic reports signal the economy is seeing modest improvement.

The Dow rose 45.50, or 0.4 percent, to 10,779.17. That marks the highest close since Oct. 1, 2008. The Dow last rose for eight straight days in the period ended Aug. 27.

The broader Standard & Poor's 500 index slipped 0.38, or less than 0.1 percent, to 1,165.83, while the Nasdaq composite index rose 2.19, or 0.1 percent, to 2,391.28.

Bond prices fell and yields rose following the economic reports. The yield on the benchmark 10-year Treasury note rose to 3.68 percent from 3.64 percent late Wednesday.

The dollar rose against other major currencies. Gold rose.

Crude oil fell 73 cents to settle at $82.20 per barrel on the New York Mercantile Exchange.

The Labor Department's Consumer Price Index was flat. Excluding volatile energy and food prices, it rose 0.1 percent. Economists polled by Thomson Reuters forecast an increase of 0.1 percent in both measures of inflation. On Wednesday, the government said that wholesale prices barely rose in February.

The Federal Reserve repeated this week that it expects inflation to remain low. That would allow the central bank to keep interest rates low to help revive lending and boost the economy.

The Labor Department said that initial jobless claims fell by 5,000 to a seasonally adjusted 457,000 last week. Although the drop was short of expectations, it was the third straight weekly slide. A four-week average of claims is up by 30,000 since the beginning of the year.

Initial claims have hovered around 450,000 in recent weeks, which Gayle called a "tipping point" between employers adding or cutting jobs.

Companies like 3M Co. got a boost from the Philadelphia Fed's report that manufacturing expanded in the Mid-Atlantic region for the seventh straight month in March. However, a drop in new orders signaled growth could slow.

The Conference Board's index of leading indicators rose 0.1 percent in February. That matched expectations but the increase in the gauge of future economic activity was the smallest in 11 months.

The concerns about Greece brought a reminder that the calm can be interrupted.

"That's why you're seeing a little bit of resistance," said Greg Merlino, president of Ameriway Financial Services. "Whenever we hear Greece, we get this knee-jerk reaction, is this the first domino to fall?"

Improved earnings reports gave the market some support.

FedEx Corp. said its fiscal third-quarter profit more than doubled. It also raised its full-year earnings forecast, which is now in line with analysts' expectations.

FedEx is considered a measure for the health of the overall economy because of the variety of products it ships. The stock rose $2.87, or 3.2 percent, to $92.67.

3M rose $1.49, or 1.8 percent, to $83.67.

Three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume fell to 4.3 billion shares from 5 billion Wednesday.

The Russell 2000 index of smaller companies fell 2.37, or 0.4 percent, to 681.61.

Overseas, Britain's FTSE 100 fell less than 0.1 percent, Germany's DAX index dropped 0.2 percent, and France's CAC-40 fell 0.5 percent. Japan's Nikkei stock average fell 1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 117.29 points, or 1.1 percent, at 10,741.98. The Standard & Poor's 500 index rose 9.91, or 0.9 percent, to 1,159.90. The Nasdaq composite index rose 6.75, or 0.3 percent, to 2,374.41.


Stocks halted their steady climb Friday after renewed concerns about Greece's ability to pay its debts left investors questioning a global economic recovery.

Stocks fell to profit taking as a lack of positive catalysts and a stronger dollar kept many buyers at bay, while volume and volatility spiked with quadruple witching. 

Heading into Friday's trade the stock market had gained more than 5% since the start of the month. The climb started to steady in the prior session as stocks in the broader market moved sideways to consolidate their recent string of gains. The flat trade was regarded by several as a sign that stocks may have become tired after their run and additional advances in the near term may be harder to come by. In turn, a broad-based selling effort hit stocks for their worst session of this month. 

The Dow Jones industrial average fell 37 points after advancing for eight straight days. Broader indexes also fell. Major indexes posted gains for the week.

Greece said it might need to turn to the International Monetary Fund for support if European leaders can't agree on a bailout plan next week. Worries about the country's ability to handle its massive debt load have set off periodic bouts of stock selling in the U.S. and overseas over the past two months.

*The NYSE DOW closed LOWER -37.19 points -0.35% on Friday March 19*
Sym. Last......... ........Change.......... 
Dow 10,741.98 -37.19 -0.35% 
Nasdaq 2,374.41 -16.87 -0.71% 
S&P 500 1,159.90 -5.92 -0.51% 
30-yr Bond 4.5790% -0.1000 

NYSE Volume 6,429,387,500  (prior day 4,780,323,000)
Nasdaq Volume 3,018,787,250  (prior day 2,091,388,620)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,650.12 +7.50 +0.13% 
DAX 5,982.43 -29.88 -0.50% 
CAC 40 3,925.44 -12.74 -0.32% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,824.72 +80.69 +0.75% 
Hang Seng 21,370.82 +40.15 +0.19% 
Straits Times 2,915.70 +1.76 +0.06% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=6&asset=&ccode=

*Stocks fall as worries about Greek debt return

Stocks interrupt winning streak after concern about Greece's debt problems return to market *

Tim Paradis, AP Business Writers, On Friday March 19, 2010, 6:10 pm EDT 
NEW YORK (AP) -- Stocks halted their steady climb Friday after renewed concerns about Greece's ability to pay its debts left investors questioning a global economic recovery.

The Dow Jones industrial average fell 37 points after advancing for eight straight days. Broader indexes also fell. Major indexes posted gains for the week.

Greece said it might need to turn to the International Monetary Fund for support if European leaders can't agree on a bailout plan next week. Worries about the country's ability to handle its massive debt load have set off periodic bouts of stock selling in the U.S. and overseas over the past two months.

Investors also were cautious after India's central bank raised interest rates to combat rising prices. That prompted concern that central banks in other countries would follow suit. Reports in the U.S. during the week signaled that inflation is minimal.

The news out of Greece and India chilled an advance in U.S. stocks that grew out of rising optimism about a recovery.

"The economic data so far continues to be friendly, but there are a lot of concerns out there," said Peter Cardillo, chief market economist at the brokerage Avalon Partners Inc. in New York. "The Greek situation is affecting the dollar."

The dollar, regaining its appeal as a safe investment, rose against the euro and other currencies. Concerns remain that debt problems could spill over to other weak European countries like Spain and Portugal, Cardillo said.

Stocks in the U.S. have been rising since a January-February slump. Investors are encouraged that the economy is getting better, even if it's at a slow pace. The modest improvements have translated into a stock market that creeps higher rather than leaps as it did last year. Still, even with incremental gains some analysts warn that the market needs some pullbacks to avoid getting overheated.

The Dow fell 37.19, or 0.3 percent, to 10,741.98. The Standard & Poor's 500 index fell 5.93, or 0.5 percent, to 1,159.90. The Nasdaq composite index fell 16.87, or 0.7 percent, to 2,374.41.

The Dow on Thursday closed at its highest level since Oct. 1, 2008. Broader indexes are in a similar range so the retreat Friday wasn't surprising. Many traders like to sell some of their stronger holdings when the market pushes to new highs.

Three stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 5.67 billion shares, compared with 4.26 billion Thursday. Volume was heavy Friday in part because of the quarterly expiration of four kinds options and futures contracts.

For the week, the Dow rose 1.1 percent, the S&P 500 index advanced 0.9 percent and the Nasdaq rose 0.3 percent.

Bond prices were little changed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.70 percent from 3.68 percent late Thursday.

The dollar rose against other major currencies, while gold prices fell.

Crude oil fell $1.52 to settle at $80.68 per barrel on the New York Mercantile Exchange as the dollar rose. The stronger dollar made commodities more expensive to foreign buyers. That hurt demand.

A planned House vote Sunday on a proposed health care overhaul also made investors more uncertain, though many health stocks rose.

Stephen Lieber, chief investment officer at Alpine Woods Investments in Purchase, N.Y., said investors were trying to determine what might occur over the weekend and whether the Senate would vote on a version of the bill next week without making major changes.

"We're floating around in a big question mark," he said.

Among health stocks, UnitedHealth Group Inc. rose 80 cents, or 2.4 percent, to $34.39, while Cigna Corp. rose $1.24, or 3.5 percent, to $37.08.

In other trading, Palm Inc. tumbled after reporting a wider-than-expected quarterly loss late Thursday. The maker of handheld devices also forecast revenue for the current quarter that was less than half of what analysts had predicted. Competition from iPhones and BlackBerrys is hurting the company's business. The stock fell $1.65, or 29.2 percent, to $4.

The market's moves and low volume during the week pointed to investors' continuing caution as they try to assess the strength of the economic recovery.

Stocks edged higher Monday and posted bigger gains Tuesday after the Fed left its benchmark interest rate at a record low, as expected. Policymakers said rates would remain low because inflation was in check. The central bank also said there was modest improvement in the job market and that businesses were spending more on equipment and software.

Inflation figures on Wednesday and Thursday confirmed the Fed's assessment that prices are under control.

The coming week brings reports on sales of new and existing homes and orders for big-ticket manufactured items. Investors have been able in recent weeks to shrug off disappointing housing stats. However, they might become nervous if the numbers start looking overly weak.

The Russell 2000 index of smaller companies fell 7.72, or 1.1 percent, to 673.89.

Overseas, Britain's FTSE 100 rose 0.1 percent, Germany's DAX index fell 0.5 percent, and France's CAC-40 lost 0.3 percent. Japan's Nikkei stock average rose 0.8 percent.

The Dow Jones industrial average closed the week up 117.29 points, or 1.1 percent, at 10,741.98. The Standard & Poor's 500 index rose 9.91, or 0.9 percent, to 1,159.90. The Nasdaq composite index rose 6.75, or 0.3 percent, to 2,374.41.

The Russell 2000 index, which tracks the performance of small company stocks, fell 2.70, or 0.3 percent, for the week to 673.89.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,993.67, up 77.16, or 0.6 percent.

5569


----------



## bigdog

Source: http://finance.yahoo.com

The stock market finished the day with solid gains as the Nasdaq provided clear leadership throughout the session, bolstered by strength in semiconductor stocks. The stock market didn't get off to a great start, however, beginning the session with moderate losses. Before the market opened, investors and traders had two major news events to take in -- one domestic, and one overseas. On the home-front, the House of Representatives passed healthcare reform last night by a vote of 219-212. The news lifted a long standing overhang on healthcare stocks, which were strong all day. In particular, hospital stocks like Community Health Systems (CYH 40.51 +2.35) and Tenet Healthcare (THC 6.27 +0.52) put in impressive gains. 

Internationally, German Chancellor, Angela Merkel, made waves by saying that Greece doesn't need financial support, and that European Union leaders shouldn't make the question of aid for Greece the focus of their summit later in the week. She believes that Greece should solve its own debt problems despite other European policy makers urging Germany to back support for Greece. These comments underscored the latest signs of divisions within the euro-zone countries on how best to provide help to Greece. 

Drug and hospital companies led stocks higher Monday after House lawmakers ended months of uncertainty and approved the health care overhaul bill.

The Dow Jones industrial average rose about 44 points. Broader indexes also climbed.

Investors had expected the health care bill would pass the House, but the approval late Sunday removed some of the anxiety that has dogged stocks of hospitals and drug makers. A bill with changes made by the House now goes back to the Senate for approval. Debate could begin Tuesday.

*The NYSE DOW closed HIGHER +43.91 points +0.41% on Monday March 22*
Sym. Last......... ........Change.......... 
Dow 10,785.89 +43.91 +0.41% 
Nasdaq 2,395.40 +20.99 +0.88% 
S&P 500 1,165.81 +5.91 +0.51% 
30-yr Bond 4.5690% -0.1000 

NYSE Volume 4,886,284,000  (prior day 6,429,387,500)
Nasdaq Volume 2,329,286,750  (prior day 3,018,787,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,644.54 -5.58 -0.10% 
DAX 5,987.50 +5.07 +0.08% 
CAC 40 3,928.00 +2.56 +0.07% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,824.72 closed for holiday 
Hang Seng 20,933.25 -437.57 -2.05%  
Straits Times 2,889.18 -26.52 -0.91%    

http://finance.yahoo.com/news/Healt...4.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Health care companies pull stock market higher

Stocks rise after advance in health companies; Insurers, drug makers lead broad advance *

Stephen Bernard and Tim Paradis, AP Business Writers, On Monday March 22, 2010, 5:47 pm 

NEW YORK (AP) -- Drug and hospital companies led stocks higher Monday after House lawmakers ended months of uncertainty and approved the health care overhaul bill.

The Dow Jones industrial average rose about 44 points. Broader indexes also climbed.

Investors had expected the health care bill would pass the House, but the approval late Sunday removed some of the anxiety that has dogged stocks of hospitals and drug makers. A bill with changes made by the House now goes back to the Senate for approval. Debate could begin Tuesday.

The 10-year, $938 billion bill will extend benefits to 32 million uninsured Americans. That will have far-reaching effects on health companies. With the bill in hand, investors could place bets on winners and losers. Hospital stocks rose on expectations they would see more business and increased revenue. Some insurers fell because of greater restrictions imposed by the changes.

Many key points of the bill will not take effect for several years, though others like provisions allowing children to remain on their parents' insurance until age 26 will kick in this year.

Hospital operator Tenet Healthcare Corp. rose 9 percent, while insurer UnitedHealth Group Inc. fell 3.2 percent.

"You've got some uncertainty here lifted," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. Ablin noted, however, that other industries will face higher costs to pay for wider coverage. "What it really comes down to is that as a result of this bill health care is a beneficiary at the expense of every other sector."

Stocks have been rising steadily in recent weeks as investors have grown more confident in a rebound following a string of improved economic reports. At the same time, much of the advance has come on light trading volume. That signals that not all the gains are tied to increasing expectations about the economy. Some analysts say that stocks are rising in a vacuum rather than because investors strongly believe that the market is poised to go higher.

The Dow rose 43.91, or 0.4 percent, to 10,785.89. It has risen 14 of the past 17 trading days and stands at its highest level since October 2008.

The Standard & Poor's 500 index rose 5.91, or 0.5 percent, to 1,165.81. The Nasdaq composite index rose 20.99, or 0.9 percent, to 2,395.40. It closed at a new high for the year and is at its best level since August 2008.

Bond prices rose, pushing down yields. The yield on the benchmark 10-year Treasury note fell to 3.66 percent from 3.70 percent late Friday.

The dollar fell against other major currencies. Gold fell.

Crude oil rose 57 cents to $81.25 per barrel on the New York Mercantile Exchange.

Stock fell Friday because of renewed concerns about budget problems in Greece. More questions about Greece hurt stocks early Monday. The country's debt woes have dragged down global stock markets on and off for nearly two months as the country tries to cut its budget deficit.

Investors have been worried that Greece and other European nations that use the euro, like Spain and Portugal, could struggle to recover as they try to pay down debt. That could upend a global economic recovery.

Questions about Greece arose again when Germany's chancellor said Sunday that a bailout for Greece won't be discussed at a European summit this week. But concern eased after European Central Bank President Jean-Claude Trichet said Monday that Greece wouldn't be able to dump the euro as its currency.

Meanwhile, retailers signaled that affluent consumers are stepping up spending. Jeweler Tiffany & Co.'s fourth-quarter profit quadrupled though earnings fell short of analysts' forecasts.

Williams-Sonoma Inc. said increased revenue boosted profits by more than sevenfold from a year ago, when one-time costs dented results. The seller of kitchen goods forecast stronger results for its current fiscal quarter.

The improvement in sales is a welcome sign for the economy as the end of the January-March quarter approaches.

Richard E. Cripps, chief market strategist for Stifel Nicolaus in Baltimore, is encouraged that expectations are growing for first-quarter profits. Corporate earnings are the biggest driver of the stock market.

"More analysts than not are choosing to increase their estimates and that's a good thing," Cripps said.

Tiffany rose 16 cents to $47.41, while Williams-Sonoma advanced $2.96, or 12.3 percent, to $27.10.

Google Inc. fell $2.50, or 0.5 percent, to $557.50 after the company stopped censoring the Internet in China by moving its search engine off the mainland. Visitors to Google's China service were redirected to Google's Chinese-language service based in Hong Kong.

Among health stocks, Tenet rose 52 cents, or 9 percent, to $6.27, while drug maker Pfizer Inc. rose 24 cents to $17.15.

UnitedHealth fell $1.09, or 3.2 percent, to $33.30.

Two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 4.3 billion shares, compared with 5.7 billion Friday. Trading was heavy Friday because of the expiration of options and futures contracts.

The Russell 2000 index of smaller companies rose 9.02, or 1.3 percent, to 682.91.

Britain's FTSE 100 fell 0.1 percent, Germany's DAX index and France's CAC-40 each rose 0.1 percent. Markets in Japan were closed for a holiday.


----------



## bigdog

Source: http://finance.yahoo.com

The long and short of things Tuesday is that the stock market remained biased toward the long side.  There were half-hearted attempts to drive the market lower, but as soon as they started, it wasn't long before they were snuffed out with renewed buying interest. 

For the most part, the session progressed on an unventful note.  The major averages held to narrow trading ranges, sporting modest gains for a good part of the day thanks to the relative strength exhibited by the industrial (+1.1%) and semiconductor (+2.3%) sectors.  However, there was a late-day breakout when the S&P 500 cleared last week's high of 1169.84.

Dow gains 103 points to extend market rally; traders afraid of missing gains step in to market 

Investors are starting to believe that the stock market is on the verge of another big rally.

The Dow Jones industrials rose almost 103 points Tuesday, their biggest gain in more than two weeks. The day's economic news was tepid as the National Association of Realtors reported a drop in homes sales last month that wasn't as steep as forecast. But analysts said many investors, after seeing the Dow at new highs for 2010, were afraid of missing out on further gains.

The report on housing was typical of recent economic numbers that have been somewhat better than expected but that still point to a weak economy. Sales of previously occupied homes fell 0.6 percent last month to an annual rate of 5.02 million. The drop was less than expected.

*The NYSE DOW closed HIGHER +102.94 points +0.95% on Tuesday March 23*
Sym. Last......... ........Change.......... 
Dow 10,888.83 +102.94 +0.95% 
Nasdaq 2,415.24 +19.84 +0.83% 
S&P 500 1,174.17 +8.36 +0.72% 
30-yr Bond 4.5980% +0.2900 

NYSE Volume 4,989,966,000  (prior day 4,886,284,000)
Nasdaq Volume 2,309,634,250  (prior day 2,329,286,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,673.63 +29.09 +0.52% 
DAX 6,017.27 +29.77 +0.50% 
CAC 40 3,952.55 +24.55 +0.63% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,774.15 -50.57 -0.47%  
Hang Seng 20,987.78 +54.53 +0.26%  
Straits Times 2,905.66 +16.48 +0.57% 

http://finance.yahoo.com/news/Momen...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Momentum carries stocks higher; Dow adds 103

Dow gains 103 points to extend market rally; traders afraid of missing gains step in to market *

Tim Paradis, AP Business Writer, On Tuesday March 23, 2010, 5:32 pm 
NEW YORK (AP) -- Investors are starting to believe that the stock market is on the verge of another big rally.

The Dow Jones industrials rose almost 103 points Tuesday, their biggest gain in more than two weeks. The day's economic news was tepid as the National Association of Realtors reported a drop in homes sales last month that wasn't as steep as forecast. But analysts said many investors, after seeing the Dow at new highs for 2010, were afraid of missing out on further gains.

The report on housing was typical of recent economic numbers that have been somewhat better than expected but that still point to a weak economy. Sales of previously occupied homes fell 0.6 percent last month to an annual rate of 5.02 million. The drop was less than expected.

For now, the sales numbers aren't hurting hopes that the economy can recover even if the housing market is still sluggish. The Commerce Department is expected to report new home sales for February on Wednesday. A month ago, investors shrugged off an 11.2 percent drop in that reading.

The market's continuing advance has been welcome but analysts are divided over whether stocks have run too far or if they have more to gain because of improvements in the economy. The recent gains have been mild in contrast to those of 2010 when triple-digit gains in the Dow were frequent as the index soared higher from a 12-year low.

Even many traders who have doubts about how solid the advance is, expect it to continue until something pops the optimistic mood.

"You can't deny the trend. Definitely the trend is higher," said Doreen Mogavero, president of brokerage Mogavero, Lee & Co. in New York. She said investors are optimistic about the health of corporate earnings for the January-March quarter.

"Things seem to be moving along in the right direction. So to that end I think people are feeling better."

But Mogavero is cautious because the advance has come on light trading volume, which signals that not many investors are willing to put money into the market.

The Dow rose 102.94, or 1 percent, to 10,888.83, its biggest point and percentage gain since March 5. The Dow has risen 10 of the past 11 days and is at its highest level since Sept. 26, 2008. It has risen 147 points, or 1.4 percent, in two days.

The Standard & Poor's 500 index rose 8.36, or 0.7 percent, to 1,174.17. It also stands at an 18-month high.

The Nasdaq composite index rose 19.84, or 0.8 percent, to 2,415.24, a 19-month high.

The rise in stocks sent bond prices lower and yields higher. The yield on the benchmark 10-year Treasury note rose to 3.69 percent from 3.66 percent late Monday.

The dollar rose against most other major currencies. Gold rose.

Crude oil rose 31 cents to $81.91 per barrel on the New York Mercantile Exchange.

Stocks rose Monday after House lawmakers on Sunday approved a health care overhaul bill that will extend health insurance to 32 million Americans. Drug and hospital companies rose in part because of the prospect of increased demand.

Joe Saluzzi, co-head of equity trading at Themis Trading LLC, said the market has continued higher because traders are placing short-term bets, not because they believe stock prices are too low. That makes the advance difficult to justify, he said.

"Look at the daily charts. They just grind higher. We call it the sausage factory. At the end of the day it tastes great but nobody knows how it's made," Saluzzi said.

Traders showed little reaction Tuesday to Treasury Secretary Timothy Geithner's testimony before Congress about government efforts to overhaul mortgage financiers Fannie Mae and Freddie Mac. The pair, which were taken over by the government during the credit crisis, guarantee a majority of mortgages. The government's support has helped keep interest rates low as part of an effort to help the housing market recover.

Investors found some news about housing that they didn't like. Homebuilder KB Home fell 29 cents, or 1.7 percent, to $17.15 after its fiscal first quarter loss was wider than expected and revenue fell short of forecasts.

More than two stocks rose for every one that fell on the New York Stock Exchange, where volume came to 985 million shares, compared with 954.3 million Monday.

The Russell 2000 index of smaller companies rose 7.39, or 1.1 percent, to 690.30.

Britain's FTSE 100 rose 0.5 percent, Germany's DAX index gained 0.5 percent, and France's CAC-40 rose 0.6 percent. Japan's Nikkei stock average fell 0.5 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Rekindled concerns regarding sovereign debt drove the dollar to its best single-session percentage gain since December, but moderate weakness mired the broader equity market for the entire session. 

Distress about the fiscal health of the PIIGS contingent, which includes Portugal, Italy, Ireland, Greece, and Spain, returned to the forefront with news that analysts at Fitch trimmed Portugal's sovereign debt rating to AA- from AA. The announcement dropped the euro to a 10-month low against the dollar, but bolstered the Dollar Index, which closed trade with a near 1.4% gain at a new 10-month high. 

The greenback's gain hampered stocks for the entire session. Weakness was also widespread among stocks, such that declining issues outnumbered advancers by more than 3-to-1 in the S&P 500. 

Stocks drop after credit rating agency downgrades Portugal debt; Treasurys slide after auction

Major stock indexes fell from their 2010 highs Wednesday as weakness in the housing market and rising European debt loads revived investors' pessimistic view of the economy.

The Dow Jones industrial average fell about 53 points. It was only the Dow's second drop in 12 days. Broader stock indexes also slid.

Treasury prices tumbled after a government debt auction drew only modest demand for a second straight day. That raised concern that the government will have to pay more to attract buyers for its debt. Washington has been issuing record amounts of debt to help revive the economy.

*The NYSE DOW closed LOWER -52.68 points -0.48% on Tuesday March 23*
Sym. Last......... ........Change.......... 
Dow 10,836.15 -52.68 -0.48% 
Nasdaq 2,398.76 -16.48 -0.68% 
S&P 500 1,167.72 -6.45 -0.55% 
30-yr Bond 4.7210% +1.2300 

NYSE Volume 5,284,407,000  (prior day 4,989,966,000)
Nasdaq Volume 2,322,414,250  (prior day 2,309,634,250)

*Europe*Symbol.... Last...... .....Change.......
FTSE 100 5,677.88 +4.25 +0.07% 
DAX 6,039.00 +21.73 +0.36% 
CAC 40 3,949.81 -2.74 -0.07% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,815.03 +40.88 +0.38%  
Hang Seng 21,008.62 +20.84 +0.10%  
Straits Times 2,886.36 -19.30 -0.66% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks fall after agency cuts Portugal debt rating

Stocks drop after credit rating agency downgrades Portugal debt; Treasurys slide after auction *

Stephen Bernard and Tim Paradis, AP Business Writers, On Wednesday March 24, 2010, 4:21 pm EDT 

NEW YORK (AP) -- Major stock indexes fell from their 2010 highs Wednesday as weakness in the housing market and rising European debt loads revived investors' pessimistic view of the economy.

The Dow Jones industrial average fell about 53 points. It was only the Dow's second drop in 12 days. Broader stock indexes also slid.

Treasury prices tumbled after a government debt auction drew only modest demand for a second straight day. That raised concern that the government will have to pay more to attract buyers for its debt. Washington has been issuing record amounts of debt to help revive the economy.

The drop in stocks comes after Fitch Ratings lowered Portugal's credit rating. The rating agency said the country's recovery will be slower than others that use the euro. Fitch contends that could hurt Portugal's ability to repay its debt.

Debt problems in Europe have been one of the few drags on stocks in recent months. Rising debt in Greece, Portugal and other nations that use the euro have investors worried that troubles there could upend a nascent global recovery.

The dollar rose sharply against the euro and other major currencies. The dollar is at its highest level against the euro since May. The stronger dollar makes commodities more expensive to foreign buyers. That cuts into demand.

Stocks have been carving steady gains for more than a month as economic reports signal slow improvement in the economy. That has kept cautious traders from placing big bets on a rebound. Some analysts were already expecting a retreat because major stock indexes had touched new highs for the year.

Subodh Kumar, global investment strategist at Subodh Kumar & Assoc. in Toronto, said investors have been too quick to look past risks still facing the economy.

"There are quantitative issues that the markets have been ignoring," he said. "I believe that markets are somewhat extended."

According to preliminary calculations, the Dow fell 52.68, or 0.5 percent, to 10,836.15, a day after closing at its highest level since September 2008.

The Standard & Poor's 500 index dropped 6.45, or 0.6 percent, to 1,167.72. The index also closed Tuesday at its highest level in nearly 18 months.

The Nasdaq composite index fell 16.48, or 0.7 percent, to 2,398.76. On Tuesday, the index reached its best level in 19 months.

Bond prices dropped after an auction of $42 billion in five-year Treasury notes drew weak demand. The yield on the five-year note, which moves opposite price, rose to 2.59 percent from 2.42 percent.

The yield on the benchmark 10-year note rose to 3.84 percent from 3.69 percent late Tuesday.

An auction Tuesday of $44 billion in two-year notes also saw a drop in demand.

The drop in the stock market wasn't as steep as in Treasurys.

Robert Froehlich, senior managing director at Hartford Financial Services, said the slide in stocks wasn't worse because the financial problems in Portugal weren't totally surprising. Froehlich said the recent slow climb in the market signals that investors don't have strong opinions about which way the market is going.

"What's the next move of the Dow -- 12,000 or 8,000? No one is willing to make that big bet," he said.

In economic news, a Commerce Department report on new home sales showed the market is continuing to contract. Sales unexpectedly fell to the lowest level on record in February as bad winter weather kept buyers out of the market.

New home sales fell 2.2 percent last month to a seasonally adjusted annual sales pace of 308,000. Economists polled by Thomson Reuters had forecast sales would rise to 320,000.

The report comes a day after the National Association of Realtors said sales of existing homes fell last month. The drop wasn't as steep as forecast, however.

A recovery in housing has been uneven. Reports that beat even modest expectations have regularly been met with buying on Wall Street, such as Tuesday's big gains. The Dow jumped nearly 103 points, or 1 percent.

Investors brushed off a report on orders to factories for big-ticket manufactured goods that showed continued growth. Unlike the housing market, the manufacturing industry has shown steady improvement in recent months.

Durable goods orders -- items expected to last at least three years -- rose 0.5 percent last month, slightly below expectations for 0.7 percent growth. However, it was the third straight month orders rose, and excluding the volatile transportation sector, orders increased by more than expected.

Orders climbed 0.9 percent in February excluding aircraft and other transportation orders. Economists had forecast an increase of 0.6 percent.

The government's weekly jobless claims report could shape trading Thursday. High unemployment is seen as the biggest obstacle facing the economy.

In corporate news, homebuilder Lennar Corp. said its fiscal first-quarter loss narrowed. However, the company said it expects to return to profitability this year. Its shares rose 63 cents, or 3.7 percent, to $17.69.

Two stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1 billion shares, compared with 985 million Tuesday.

Crude oil fell $1.30 to $80.61 per barrel on the New York Mercantile Exchange. Gold fell.

The Russell 2000 index of smaller companies fell 6.62, or 1 percent, to 683.68.

Britain's FTSE 100 rose 0.1 percent, Germany's DAX index rose 0.4 percent, and France's CAC-40 fell 0.1 percent. Japan's Nikkei stock average rose 0.4 percent.


----------



## bigdog

: http://finance.yahoo.com

There were a handful of catalysts for trade this session, but ultimately it was a bounce by the greenback that sent stocks reeling from fresh 52-week highs. 

The early mood among market participants was positive after it was learned that Dubai's government will give $9.5 billion in new funding to support the restructuring of Dubai World and developer Nakheel. Meanwhile, concerns about the fiscal health of Greece were allayed by word that the European Central Bank will alter rules on collateral and keep the credit threshold in its liquidity providing operations at BBB- beyond 2010. Such moves would assist Greece's efforts to borrow. 

In the afternoon it was reported by Dow Jones that an aid package of 23 billion euros for Greece was discussed at a summit of European leaders. Reuters reported that the eurozone is ready to contribute bilateral loans to Greece and shoulder two-thirds of an aid package. The International Monetary Fund would take up the balance of such a package. 

Stocks erase advance after doubt emerges about prospects for Greece bailout; Dow adds 5 points 

Renewed concern about Greece's debt problems short-circuited the big stock market rally.

The Dow Jones industrial average closed Thursday with a gain of just 5 points after earlier rising to a new high for 2010. Broader indexes slipped.

The market's advance fizzled after European Central Bank's president Jean-Claude Trichet told French television that Europe must take responsibility for its financial problems. That raised concerns about when a rescue for Greece might come.

*The NYSE DOW closed HIGHER +5.06 points +0.05% on Thursday March 24*
Sym. Last......... ........Change.......... 
Dow 10,841.21 +5.06 +0.05% 
Nasdaq 2,397.41 -1.35 -0.06% 
S&P 500 1,165.73 -1.99 -0.17% 
30-yr Bond 4.7770% +0.5600 

NYSE Volume 6,453,712,000  (prior day 5,284,407,000)
Nasdaq Volume 2,596,896,500  (prior day 2,322,414,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,727.65 +49.77 +0.88% 
DAX 6,132.95 +93.95 +1.56% 
CAC 40 4,000.48 +50.67 +1.28% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,828.85 +13.82 +0.13%  
Hang Seng 20,767.62 -241.00 -1.15%  
Straits Times 2,888.37 +2.01 +0.07% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks give up steep gains on renewed Greece woes

Stocks erase advance after doubt emerges about prospects for Greece bailout; Dow adds 5 points *

Tim Paradis, AP Business Writer, On Thursday March 25, 2010, 5:57 pm 

NEW YORK (AP) -- Renewed concern about Greece's debt problems short-circuited the big stock market rally.

The Dow Jones industrial average closed Thursday with a gain of just 5 points after earlier rising to a new high for 2010. Broader indexes slipped.

The market's advance fizzled after European Central Bank's president Jean-Claude Trichet told French television that Europe must take responsibility for its financial problems. That raised concerns about when a rescue for Greece might come.

Officials from European nations were meeting late Thursday to discuss their economic problems, and a deal was finally announced late in the day.

Investors have been concerned for months that problems in Greece and other debt-strapped countries in Europe would spread and spoil a global economic rebound.

"Any time we see comments about it it seems to spook the market," said Adam Gould, senior portfolio manager at Direxion Funds in New York, referring to Greece's financial problems. He said traders still expect Greece will get a bailout but the questions about how unnerved investors. "It's more the uncertainty."

The concerns about Greece weakened the euro and raised demand for the dollar. The climb in the dollar hit prices of commodities like energy. That, in turn, hurt shares of energy and materials stocks.

The worries about Greece and tepid demand at a Treasury Department bond auction for a third straight day overshadowed early enthusiasm about corporate news. Stronger earnings and a higher forecast from retailer Best Buy Co. and a better-than-expected outlook from wireless chip maker Qualcomm Inc. lifted the market in morning trading.

The companies' reports raised hopes that consumer spending will increase. Higher sales of flat-panel TVs, laptop computers and smart phones are welcome signs because consumer spending is the biggest driver of the economy.

Stocks have been climbing with little interruption since early February. The move higher has been largely due to economic reports showing slow but steady improvements in the economy. Major stock indexes are at their highest level in about 18 months.

Burt White, chief investment officer for LPL Financial in Boston, said growing confidence in the economy is deserved but that stocks have been rising too quickly on light trading volume. That signals that relatively few traders have been generating the gains. That also leaves stocks susceptible to sudden slides if more skeptical investors return to the market.

"This market is easier to move because a few buyers are doing it unopposed," White said. "This comet that's kind of shooting higher is slowly every day beginning to kind of lose some momentum."

The Dow rose 5.06, or 0.1 percent, to 10,841.21. It has risen in 16 of the past 20 days.

The Standard & Poor's 500 index fell 1.99, or 0.2 percent, to 1,165.73, while the Nasdaq composite index fell 1.35, or 0.1 percent, to 2,397.41.

Stocks fell Wednesday after a credit rating agency lowered its rating on the debt of Portugal. That raised concerns similar to the ones that took down the advance Thursday. Investors worried that a default by Portugal would trigger a wave of losses for investors.

Bond prices fell again after a third straight auction for government debt drew less interest than in past months. That is a worry for investors because Washington could have to boost interest rates to entice buyers. Doing so could risk hurting the economy by driving up borrowing costs.

The government sold $32 billion in seven-year notes Thursday amid tepid demand. Bond prices had tumbled on Wednesday following another weak auction, and a sale of Treasurys on Tuesday also disappointed investors.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to its highest level in nine months. It climbed to 3.88 percent from 3.86 percent Wednesday.

The dollar rose against most other major currencies.

Crude oil fell 8 cents to settle at $80.53 per barrel in the New York Mercantile Exchange. Gold rose.

Best Buy rose $1.48, or 3.6 percent, to $42.66, while Qualcomm rose $2, or 5 percent, to $42.19.

Anadarko Petroleum Corp. was among the energy stocks that fell. The stock lost $1.61, or 2.3 percent, to $68.75. Meanwhile, Newmont Mining Corp. fell $1.37, or 2.8 percent, to $48.35.

Three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume came to 5.7 billion shares, compared with 4.8 billion Wednesday.

The Russell 2000 index of smaller companies fell 4.58, or 0.7 percent, to 679.10.

Britain's FTSE 100 gained 0.8 percent, Germany's DAX index rose 1.6 percent, and France's CAC-40 climbed 1.3 percent. Japan's Nikkei stock average rose 0.1 percent.


----------



## bigdog

http://finance.yahoo.com

The Dow Jones industrial average closed the week up 108.38 points, or 1 percent, at 10,850.36. The Standard & Poor's 500 index rose 6.69, or 0.6 percent, to 1,166.59. The Nasdaq composite index rose 20.72, or 0.9 percent, to 2,395.13.

Today's flat session capped off a choppy week, with the end result being a weekly gain of +0.6% in S&P 500. Stocks had continued their bullish trend during the first part of the week, but a sharp intraday reversal yesterday, and another intraday pullback today, pared a good portion of the week's gains. Although yesterday's weakness followed Greece headlines and a disappointing bond auction, and today's pullback took place amid escalating geopolitical concerns after a South Korean naval ship sunk, neither intraday pullback was directly triggered by a specific fundamental catalyst, making the moves more technically driven. 

Stocks surrender early gains for 2nd straight day on concerns that market has risen too fast 

The stock market looks tired.

Stocks closed mixed for a second day after investors grew pessimistic about the market's ability to keep its rally going.

The Dow Jones industrial average rose 9 points Friday. It had been up as much as 68 after European leaders announced a plan to help Greece with its debts. A similar advance and retreat occurred Thursday.

*The NYSE DOW closed HIGHER +9.15 points +0.08% on Friday March 26*
Sym. Last......... ........Change.......... 
Dow 10,850.36 +9.15 +0.08% 
Nasdaq 2,395.13 -2.28 -0.10% 
S&P 500 1,166.59 +0.86 +0.07% 
30-yr Bond 4.7520% -0.2500 

NYSE Volume 5,409,102,000  (prior day 6,453,712,000)
Nasdaq Volume 2,261,845,750  (prior day 2,596,896,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,703.02 -24.63 -0.43% 
DAX 6,120.05 -12.90 -0.21% 
CAC 40 3,988.93 -11.55 -0.29% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,996.37 +167.52 +1.55% 
Hang Seng 21,053.11 +274.56 +1.32% 
Straits Times 2,906.28 +17.91 +0.62% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks give up early gains for 2nd straight day

Stocks surrender early gains for 2nd straight day on concerns that market has risen too fast *

Stephen Bernard and Tim Paradis, AP Business Writers, On Friday March 26, 2010, 6:03 pm EDT 
NEW YORK (AP) -- The stock market looks tired.

Stocks closed mixed for a second day after investors grew pessimistic about the market's ability to keep its rally going.

The Dow Jones industrial average rose 9 points Friday. It had been up as much as 68 after European leaders announced a plan to help Greece with its debts. A similar advance and retreat occurred Thursday.

There wasn't a clear reason for stocks' retrenchment Friday. But analysts said the market does need a break from a climb that has now gone on for two months with few interruptions. The Dow has advanced 17 of the last 21 days.

"The market is extremely vulnerable to a pullback," said Christian Bendixen, director of technical research at Bay Crest Partners in New York.

Even with the mixed finish Friday, major stock indexes still managed to rise for a fourth straight week.

The early gain in stocks came after the European Union and International Monetary Fund created a bailout program that will help Greece and other European nations facing rising debt. The deal reached late Thursday will not make money immediately available to Greece, but instead act more as a safety net.

"It reinforces there will be a rescue and support for Greece," said Oliver Pursche, executive vice president at Gary Goldberg Financial Services. "It lays the groundwork for future rescue packages."

Investors have worried that mounting debt problems in places like Greece, Portugal and Spain would spread to other countries and hamper a global economic rebound.

The reassurance that Greece will get aid, if necessary, helped the euro rise against the dollar. The euro hit 10-month lows during the week.

But the gains faded as traders became uneasy after the extended string of advances, which have come on light volume. When trading volume is weak, investors often worry that only a small number of buyers are driving the market higher.

"Investors may be trigger-happy to lock in gains at any sign of selling," said Michael Sheldon, chief market strategist at RDM Financial Group.

The Dow rose 9.15, or 0.1 percent, to 10,850.36. The Standard & Poor's 500 index rose 0.86, or 0.1 percent, to 1,166.59, while the Nasdaq composite index fell 2.28, or 0.1 percent, to 2,395.13.

For the week, the Dow is up 1 percent. It hasn't risen for four straight weeks since August.

The S&P 500 index rose 0.6 percent and the Nasdaq gained 0.9 percent.

Bond prices rose, pushing down yields. Weak demand at the government's latest auctions for Treasury notes sent prices tumbling and interest rates sharply higher during the week.

The yield on the benchmark 10-year Treasury note fell to 3.85 percent from 3.89 percent late Thursday. The 10-year note is often used as a benchmark for interest rates on consumer loans.

The coming week is a short one for investors. Markets will be closed for Good Friday. But there will be plenty of economic data to digest, including consumer confidence figures on Tuesday and a manufacturing report on Thursday. The government will release its March employment report on Friday, but investors will have to wait to Monday to trade on the news.

Investors brushed aside Friday's final update to the gross domestic product report that showed the U.S. economy grew at a 5.6 percent pace in the fourth quarter, just below the 5.9 percent forecast by economists polled by Thomson Reuters.

Much of the growth was tied to a surge in spending from government stimulus measures and manufacturing as businesses restocked exceptionally low inventories. Those gains are seen as temporary, so GDP likely has slowed sharply in the first quarter.

Consumer spending also remains weak and has not been able to replace the slack from a slowdown in government measures. Consumers are cautious because unemployment remains high, analysts say.

The Reuters/University of Michigan consumer sentiment index for March was revised to 73.6 from a previous estimate of 72.5. The revised number was better than the 73 reading economists had forecast, but only even with February's figure.

Daniel Egan, president of the Massachusetts Credit Union League, said the sentiment reading is likely to remain in its current range until there are signs of jobs growth.

Consumers are "frozen" right now because they are still unsure about their jobs, Egan said. The updated GDP report showed consumer spending was even slower at the end of 2009 than previously estimated.

High unemployment has made consumers cautious, which has been reflected in mixed consumer confidence surveys in recent months. The Labor Department's employment report next Friday is expected to show that employers added jobs in March for only the second month since the recession began in December 2007.

Economists predict employers added 168,000 jobs in March after shedding 36,000 in February.

Advancing stocks narrowly outpaced those that rose on the New York Stock Exchange, where consolidated volume came to 4.7 billion shares, compared with 5.7 billion Thursday.

The Russell 2000 index of smaller companies fell 0.13, or less than 0.1 percent, to 678.97.

Overseas, Britain's FTSE 100 fell 0.4 percent, Germany's DAX index dropped 0.2 percent, and France's CAC-40 fell 0.3 percent. Japan's Nikkei stock average rose 1.6 percent.

The Dow Jones industrial average closed the week up 108.38 points, or 1 percent, at 10,850.36. The Standard & Poor's 500 index rose 6.69, or 0.6 percent, to 1,166.59. The Nasdaq composite index rose 20.72, or 0.9 percent, to 2,395.13.

The Russell 2000 index, which tracks the performance of small company stocks, rose 5.08, or 0.8 percent, for the week to 678.97.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 12,003.94, up 70.27, or 0.6 percent.

6129


----------



## bigdog

Source: http://finance.yahoo.com

In contrast to the past couple of sessions, stocks managed to maintain solid gains into the close on Monday. The advance was broad based, but financials lagged from the start. 

A dip by the dollar helped bring buyers into the stock market and keep the bullish trend intact. The greenback fell 0.4% against competing currencies; it was never able to muster an actual gain against the basket. 

Stocks climb after fifth straight increase in consumer spending boosts hopes for economy 

Consumers are more willing to spend, and that's making investors more optimistic about the economy.

The Dow Jones industrial average rose 46 points Monday and broader indexes also climbed after the Commerce Department said consumer spending rose for the fifth straight month in February. The 0.3 percent gain was in line with economists' expectations and raised hopes that the biggest driver of the economy is continuing to rebound.

Job creation and solid consumer spending are considered crucial to a sustained recovery. At the end of the week, investors will get the Labor Department's monthly employment report. Analysts predict that employers added jobs in March for only the second time since the recession began in December 2007.

*The NYSE DOW closed HIGHER +45.50 points +0.42% on Monday March 29*
Sym. Last......... ........Change.......... 
Dow 10,895.86 +45.50 +0.42% 
Nasdaq 2,404.36 +9.23 +0.39% 
S&P 500 1,173.32 +6.73 +0.58% 
30-yr Bond 4.7630% +0.1100 

NYSE Volume 4,824,934,500  (prior day 5,409,102,000)
Nasdaq Volume 1,890,191,120  (prior day 2,261,845,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,710.66 +7.64 +0.13% 
DAX 6,156.85 +36.80 +0.60% 
CAC 40 4,000.66 +11.73 +0.29% 


*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,986.47 -9.90 -0.09%  
Hang Seng 21,237.43 +184.32 +0.88%  
Straits Times 2,926.72 +20.44 +0.70%

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks rise after increase in consumer spending

Stocks climb after fifth straight increase in consumer spending boosts hopes for economy *

Tim Paradis, AP Business Writer, On Monday March 29, 2010, 5:44 pm EDT 

NEW YORK (AP) -- Consumers are more willing to spend, and that's making investors more optimistic about the economy.

The Dow Jones industrial average rose 46 points Monday and broader indexes also climbed after the Commerce Department said consumer spending rose for the fifth straight month in February. The 0.3 percent gain was in line with economists' expectations and raised hopes that the biggest driver of the economy is continuing to rebound.

Job creation and solid consumer spending are considered crucial to a sustained recovery. At the end of the week, investors will get the Labor Department's monthly employment report. Analysts predict that employers added jobs in March for only the second time since the recession began in December 2007.

Meanwhile, easing concern about debt problems in Greece reduced demand for the safety of the dollar. The dollar's drop in turn lifted demand for commodities, which become more attractive to foreign investors when the dollar falls because most of them are priced in dollars. Energy and materials stocks including Exxon Mobil Corp. and Alcoa Inc. rose.

The debt-strapped Greek government raised $6.74 billion Monday by issuing seven-year bonds. The country's ability to borrow is an important sign of confidence after European leaders and the International Monetary Fund last week agreed to provide a financial safety net for Greece and other countries that use the euro if they couldn't issue debt.

Financial shares were mixed after the Treasury Department said it would start to sell the shares it owns in Citigroup Inc. The government took 7.7 billion Citigroup shares in exchange for $25 billion it gave the bank during the 2008 credit crisis. The planned sale during the next year could result in a profit of about $7.5 billion.

The advance Monday extended a run of incremental gains since early February on expectations that the economy is improving.

"It's more of a slow steady grind higher," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research in Cincinnati.

The Dow rose 45.50, or 0.4 percent, to 10,895.86. The index is at its highest level since September 2008 and closer to the psychological threshold of 11,000.

The broader Standard & Poor's 500 index rose 6.63, or 0.6 percent, to 1,173.22, and the Nasdaq composite index rose 9.23, or 0.4 percent, to 2,404.36.

Bond prices mostly fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.87 percent from 3.85 percent late Friday.

The Dow is up 987 points, or 10 percent, since its lowest close of the year on Feb. 8. Some analysts say the steady pace of the advance is a sign the market isn't getting ahead of itself by bursting higher.

"The market seems to be holding up pretty well and probably will for a while," said Frank Haines, chief investment officer at Christian Brothers Investment Services in New York. Haines said low interest rates will help stocks for now but that longer-term threats like uncertainty about policies in Washington and rising debt levels in the U.S. and other countries could eventually hurt markets.

Investors will be looking to the Labor Department's March employment report due Friday. The stock market will be closed for Good Friday.

Economists predict employers added 190,000 jobs. Some of the expected gain could come from hiring of temporary census workers.

The market's gain followed two mixed days. On Thursday and Friday, shares rallied in the morning only to retreat to near flat levels by the closing bell when buying faded. The Dow has climbed in 18 of the past 22 days.

The dollar fell against other major currencies. Gold rose.

Crude oil rose $2.17 to $82.17 per barrel on the New York Mercantile Exchange.

Shares of Citigroup fell 13 cents, or 3 percent, to $4.18.

Exxon Mobil rose 76 cents to $67.30, while aluminum-producer Alcoa rose 17 cents to $14.44.

More than two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 4.4 billion shares compared with 4.7 billion Friday. Trading volume was light ahead of the start of Passover.

The Russell 2000 index of smaller companies rose 3.28, or 0.5 percent, to 682.25.

Britain's FTSE 100 rose 0.1 percent, Germany's DAX index rose 0.6 percent, and France's CAC-40 gained 0.3 percent. Japan's Nikkei stock average fell 0.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Large-cap tech issues gave a modest lift to the Nasdaq, but the broader market finished flat after interest in a better-than-expected consumer confidence report dissipated. 

A stronger-than-expected improvement in the May Consumer Confidence Index to 52.5 further improved what was already a generally positive tone in the early going. Though gains were modest, the morning advance was broad based. 

Stocks waver after better-than-expected reports on consumer confidence, home prices.

The stock market moved closer to closing out another strong quarter with a modest advance Tuesday.

The Dow Jones industrial average added 12 points for its fourth straight gain following a rise in technology stocks.

With one day left in the January-March quarter, the Dow is up 4.6 percent for the period. The gain is sizable, but still below the jump of 7.4 percent it made in the final three months of 2009.

*The NYSE DOW closed HIGHER +11.56 points +0.11% on Tuesday March 30*
Sym. Last......... ........Change.......... 
Dow 10,907.42 +11.56 +0.11% 
Nasdaq 2,410.69 +6.33 +0.26% 
S&P 500 1,173.27 -0.05 -0.00% 
30-yr Bond 4.7570% -0.0600 

NYSE Volume 4,529,750,000  (prior day 4,824,934,500)
Nasdaq Volume 2,071,251,750  (prior day 1,890,191,120)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,672.32 -38.34 -0.67% 
DAX 6,142.45 -14.40 -0.23% 
CAC 40 3,987.41 -13.25 -0.33% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 11,097.14 +110.67 +1.01%  
Hang Seng 21,374.79 +137.36 +0.65%  
Straits Times 2,933.39 +4.25 +0.15% 

http://finance.yahoo.com/news/Stocks-waver-after-upbeat-apf-2388604308.html?x=0

*Stocks waver after upbeat economic data

Stocks waver after better-than-expected reports on consumer confidence, home prices *

Stephen Bernard, AP Business Writer, On Tuesday March 30, 2010, 5:29 pm 

NEW YORK (AP) -- The stock market moved closer to closing out another strong quarter with a modest advance Tuesday.

The Dow Jones industrial average added 12 points for its fourth straight gain following a rise in technology stocks.

With one day left in the January-March quarter, the Dow is up 4.6 percent for the period. The gain is sizable, but still below the jump of 7.4 percent it made in the final three months of 2009.

The mood in the market was upbeat Tuesday after a report that consumer confidence grew more than expected in March. A separate report showed home prices inched higher for the eighth consecutive month.

Analysts expect trading to be erratic Wednesday because of the end of the quarter. Money managers often engage in what's known as window dressing, or trades intended to boost returns on reports sent to shareholders. Many investors refrain from big moves. Tuesday's volume was light as many traders took the day off for Passover or ahead of Easter.

A steady climb in stocks over the past two months could give investors reasons to collect some profits. The Dow has risen 19 of the past 23 days and is now at its highest level since September 2008.

"A bout of profit-taking would be normal and expected after the rise we had," said Mitch Schlesinger, managing director of FBB Capital Partners in Bethesda, Md.

The day's economic reports provided new evidence that the economy is improving, albeit slowly.

The Conference Board said its consumer confidence index rose to 52.5 in March, from 46.4 last month. Economists polled by Thomson Reuters had forecast it would rise to 50. A reading above 90 means the economy is on solid footing.

"We're starting to see consumers come back in an adequate manner," said Larry Rosenthal, president of Financial Planning Services in Manassas, Va. "Not strong, but adequate."

The Dow rose 11.56, or 0.1 percent, to 10,907.42. The Dow was up as much as 44 points in morning trading.

The Standard & Poor's 500 index rose 0.05, or less than 0.1 percent, to 1,173.27, while the Nasdaq composite index rose 6.33, or 0.3 percent, to 2,410.69.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where volume came to 907.1 million shares compared with 944.9 million shares Monday.

The Standard & Poor's/Case-Shiller home price index, which measures home values in 20 major metropolitan markets, rose 0.3 percent in January compared with the previous month. It was the eighth consecutive monthly gain.

The index was down 0.7 percent compared with the year-ago period. That was slightly better than the drop forecast by economists.

Investors have been tolerant of uneven housing reports and are instead focused on jobs. Analysts say stocks won't be able to push higher without an improvement in the job market.

The Labor Department releases its monthly employment report Friday. Economists expect it to show employers added 190,000 jobs in March. That would be only the second increase since the recession began in late 2007. Some of the growth is expected to be tied to temporary government hiring for the 2010 census. The stock market will be closed for Good Friday when the report arrives.

Investors will get another snapshot of jobs on Wednesday from payroll company ADP. Economists forecast the ADP report will show private-sector employers added 40,000 jobs in March.

In corporate news, Apple Inc. and Verizon Communications climbed after The Wall Street Journal reported that Apple was making phones that could be used on Verizon's network.

Apple rose $3.46, or 1.5 percent, to $235.85. The stock reached a record of $237.48 during trading.

Verizon shares rose 78 cents, or 2.6 percent, to $31.23.

Apple's iPhone has been available only to subscribers of AT&T Inc. in the U.S. AT&T fell 56 cents, or 2.1 percent, to $25.95.

Bond prices were little changed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.86 percent from 3.87 percent late Monday.

The dollar rose against most other major currencies. Gold fell.

Crude oil rose 20 cents to $82.37 per barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 1.69, or 0.3 percent, to 683.94.

Britain's FTSE 100 fell 0.7 percent, Germany's DAX index dipped 0.2 percent, and France's CAC-40 fell 0.3 percent. Japan's Nikkei stock average rose 1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Disappointment over the latest ADP Employment Report hampered stocks for the entire session, which concluded on a relatively weak note. 

Another 23,000 private payrolls were cut in March, according to the most recent ADP Employment Report. Though that was the smallest decline in two years, the news prompted participants to pressure stocks since the addition of 40,000 jobs had been expected. 

Stock market slows its climb but 'tortoise rally' still produces best 1st Qtr since late '90s 

The stock market is taking some ages-old advice to heart: everything in moderation.

Stocks on Wednesday ended a first quarter that many investors and analysts would describe as healthy. The Standard & Poor's 500 index is up 4.9 percent by amassing a string of steady gains that were far from the supersized jumps seen in 2009. The Dow Jones industrials are up 4.1 percent, but with unremarkable gains of 50 points here and 15 there. They've had few of the triple-digit swings that used to be commonplace.

The market's relative tranquility has made many analysts upbeat about the chances that its gains will hold. They say investors now have realistic not overoptimistic expectations. And the market has gotten used to the idea of a bumpy economic recovery, including the continuing struggles of the housing market. But analysts warn, for stocks to extend their January-March gains, investors will need to see employers hiring again.

*The NYSE DOW closed LOWER -50.79 points -0.47% on Wednesday March 31*
Sym. Last......... ........Change.......... 
Dow 10,856.63 -50.79 -0.47% 
Nasdaq 2,397.96 -12.73 -0.53% 
S&P 500 1,169.43 -3.84 -0.33% 
30-yr Bond 4.7150% -0.4200 

NYSE Volume 5,221,368,500  (prior day 4,529,750,000)
Nasdaq Volume 2,398,670,500  (prior day 2,071,251,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,679.64 +7.32 +0.13% 
DAX 6,153.55 +11.10 +0.18% 
CAC 40 3,974.01 -13.40 -0.34% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 11,089.94 -7.20 -0.06%  
Hang Seng 21,239.35 -135.44 -0.63%  
Straits Times 2,887.46 -45.93 -1.57% 

http://finance.yahoo.com/news/Torto...4.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Tortoise rally: Stocks have slow but big 1Q gain

Stock market slows its climb but 'tortoise rally' still produces best 1st Qtr since late '90s *

Tim Paradis, AP Business Writer, On Wednesday March 31, 2010, 4:39 pm EDT 
NEW YORK (AP) -- The stock market is taking some ages-old advice to heart: everything in moderation.

Stocks on Wednesday ended a first quarter that many investors and analysts would describe as healthy. The Standard & Poor's 500 index is up 4.9 percent by amassing a string of steady gains that were far from the supersized jumps seen in 2009. The Dow Jones industrials are up 4.1 percent, but with unremarkable gains of 50 points here and 15 there. They've had few of the triple-digit swings that used to be commonplace.

The market's relative tranquility has made many analysts upbeat about the chances that its gains will hold. They say investors now have realistic not overoptimistic expectations. And the market has gotten used to the idea of a bumpy economic recovery, including the continuing struggles of the housing market. But analysts warn, for stocks to extend their January-March gains, investors will need to see employers hiring again.

Even then, the market is expected to take its time.

"Like any sprinter, at some point you've got to put your hands on your knees and take a deep breath," said John Lynch, chief market analyst at Evergreen Investments in Charlotte, N.C. "That's why we've seen these mild advances in recent weeks -- consistent but mild."

A by-the-numbers look at the advance that some traders have called the "tortoise rally":

-- The Dow fell 51 points, or 0.5 percent, to 10,856.63 Wednesday but still posted its best first quarter since 1999. It is approaching 11,000 for the first time in a year and a half. It's up 9.6 percent after falling to 9,908.39 on Feb. 8. The Dow has closed up 19 of the last 24 days.

The quarter has padded the Dow's huge 2009 gain, putting the average 65.8 percent above the 12-year low of 6,547.05 it reached on March 9 of last year. However, it's still down 23.4 percent from its October 2007 peak of 14,164.53.

-- The broader S&P 500 index fell 3.84, or 0.3 percent, to 1,169.43 Wednesday but rose 4.9 percent for the first quarter and about 5.7 percent including dividends. It's the index's best first-quarter since 1998. For the past 12 months, it's up 46.6 percent, and about 53.6 percent when dividends are included.

-- The Nasdaq composite index fell 12.73, or 0.5 percent, to 2,397.96 Wednesday. It rose 5.7 percent for the quarter, largely on the strength of companies like Apple Inc. Overall, the tech stocks that dominate the Nasdaq had a more modest quarter.

-- The top performer in the S&P 500 index during the first quarter was Zions Bancorp. It surged 70.2 percent.

-- The S&P stock with the biggest price drop was H&R Block Inc. The tax preparer fell 21.3 percent.

-- Industrial stocks had the biggest advance among S&P 500 segments. They rose about 13 percent on expectations that growth in places like China and spending on everything from roads to equipment will pick up.

Financial stocks, which have led the market by nearly doubling in the past year, are up about 10 percent as banks repair their balance sheets and investors grow more hopeful that mortgage and other loan defaults will decline.

-- Telecommunications companies have been the worst performing segment of the S&P 500. Their stock prices have fallen about 5 percent. These stocks are seen as safe plays in bad economies in part because they often carry big dividends. But they lose their appeal when the economy picks up.

-- Utility stocks, also known for paying hefty dividends, are down about 4 percent for the quarter.

Three months ago, the quarter looked like it might be difficult. Starting in early January, the Dow fell 5 percent in about five weeks and investors eared that the stock market's 2009 leap was another bubble about to pop.

Uncertainty about whether China would raise interest rates to keep its fast growth in check hit stocks early on. And questions about whether debt problems in Greece or policy changes in Washington would derail the market have periodically sent stocks skidding.

Investors are still cautious about the economy, especially as the government winds down some of the programs it implemented in 2008 and 2009 to help the economy. The Federal Reserve on Wednesday was ending a program to purchase mortgages. The plan was designed to hold down mortgage rates, which may now creep higher even as the housing market remains weak.

The immediate concern, however, is jobs. The Labor Department issues its March employment report on Friday. Economists expect the report to say that employers added jobs in March for only the second time since the recession began in December 2007.

"There is nothing more important than the labor numbers," said Jim O'Sullivan, chief economist at MF Global. He said if there is a gain for March it will need to continue to convince investors.

"The question is how much more improvement do you see in the next three or four months," O'Sullivan said.

Some analysts are cautious because of the market's own dynamics. They note that trading volume has been light because some traders are nervous about committing more money to stocks until the job market improves.

Barbara Marcin, manager at the Gabelli Blue Chip Value Fund in Rye, N.Y., said stocks are appropriately valued where they are and doesn't see much reason for further gains.

"You can't say it's a really good buy and yet we keep going up," she said.

A year ago, Marcin knew stocks had fallen too far and would eventually turn higher. Now, she's uncertain.

"I'm not sure what you're looking at 12 months from now."


----------



## bigdog

Source: http://finance.yahoo.com

*The US stock market will be closed Friday*

The Dow Jones industrial average closed the week up 76.71 points, or 0.7 percent, at 10,927.07. The Standard & Poor's 500 index rose 11.51, or 1 percent, to 1,178.10. The Nasdaq composite index rose 7.45, or 0.3 percent, to 2,402.58.

Early support sent the stock market to a fractionally improved 52-week high, but as buyers backed away and sellers squared their positions ahead of tomorrow's official jobs report stocks succumbed to pressure. Stocks bounced in the final hour to close the session on a strong note, though. 

News of a pleasing eurozone PMI and a restated commitment by China to loose monetary policy was cited as a reason for the positive mood among market participants in the early going. A less obvious cause for the early gains is that fund money was put to work with the start of the second quarter. 

Stronger reports on jobs and manufacturing boosted stocks Thursday ahead of the government's March employment report.

The Dow Jones industrial average rose 70 points to a 2010 high on the final day of a shortened week. The stock market will be closed Friday and the bond market will close early for Good Friday.

Major stock indexes rose for a fifth straight week, giving the Dow its longest winning streak since mid-April last year.

*The NYSE DOW closed HIGHER +70.44 points +0.65% on Thursday April 1*
Sym. Last......... ........Change.......... 
Dow 10,927.07 +70.44 +0.65% 
Nasdaq 2,402.58 +4.62 +0.19% 
S&P 500 1,178.10 +8.67 +0.74% 
30-yr Bond 4.7280% +0.1300 

NYSE Volume 4,508,887,500  (prior day 5,221,368,500)
Nasdaq Volume 2,283,116,000  (prior day 2,398,670,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,744.89 +65.25 +1.15% 
DAX 6,235.56 +82.01 +1.33% 
CAC 40 4,034.23 +60.22 +1.52% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 11,244.40 +154.46 +1.39%  
Hang Seng 21,537.00 +297.65 +1.40%  
Straits Times 2,943.02 +55.56 +1.92% 

http://finance.yahoo.com/news/Jobs-manufacturing-reports-apf-888469478.html?x=0

*Jobs, manufacturing reports boost stock market

Stocks climb on jobs, manufacturing reports; Traders end short week awaiting employment data *

Tim Paradis, AP Business Writer, On Thursday April 1, 2010, 5:45 pm EDT 
NEW YORK (AP) -- Stronger reports on jobs and manufacturing boosted stocks Thursday ahead of the government's March employment report.

The Dow Jones industrial average rose 70 points to a 2010 high on the final day of a shortened week. The stock market will be closed Friday and the bond market will close early for Good Friday.

Major stock indexes rose for a fifth straight week, giving the Dow its longest winning streak since mid-April last year.

Economists expect the Labor Department will report that employers added 190,000 jobs last month. That would mark on the second month of jobs growth since the recession began in December 2007. Government hiring for the 2010 census could provide a temporary boost, but an increase would still be welcome news for stock investors.

"Just getting a number with six digits -- over 100,000 -- is, I think, very much encouraging to a lot of folks who really believe that none of this counts until we start creating jobs," said Jeffrey Kleintop, chief market strategist at LPL Financial in Boston.

Confidence grew Thursday after the Labor Department said that initial claims for unemployment benefits fell last week. A four-week average of clams dropped to its lowest level in 18 months.

Manufacturing figures also raised expectations that a recovery is gaining steam. A trade group's report found that U.S. manufacturing grew in March at the fastest pace in 5 1/2 years. Manufacturing reports from China and Europe also indicated that factories are busier.

The market has been climbing with little interruption for a year. In the past seven weeks, the gains have been marked by steady increases that are adding up. The Dow on Wednesday wrapped up its strongest first quarter since 1999.

A rise in the price of oil to an 18-month high lifted energy stocks. Occidental Petroleum Corp. and Diamond Offshore Drilling Inc. rose more than 2 percent.

BlackBerry phone maker Research In Motion Ltd. fell 7 percent, dragging down other technology stocks, after the company's fiscal fourth-quarter shipments fell short of expectations.

The Dow rose 70.44, or 0.7 percent, to 10,927.07. The index stands at its highest level since September 2008.

The Dow had been up 100 points, getting within 43 points of the psychological barrier of 11,000. The index hasn't topped that level it hasn't topped in 18 months.

The Standard & Poor's 500 index rose 8.67, or 0.7 percent, to 1,178.10. The technology-dominated Nasdaq composite index rose 4.62, or 0.2 percent, to 2,402.58.

The Dow rose for a fifth straight week, adding 0.7 percent.

The S&P 500 index rose 1 percent for the week, while the Nasdaq gained 0.3 percent.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.87 percent from 3.83 percent late Wednesday.

The dollar fell against other major currencies, while gold rose.

Crude oil topped $85 per barrel before settling up $1.11 at $84.87 per barrel on the New York Mercantile Exchange.

The advance in stocks came after the government said initial jobless claims fell 6,000 to a seasonally adjusted 439,000 last week. Economists had forecast claims would drop to 440,000.

The four-week average of claims fell by nearly 7,000 to 447,250. That was the lowest level since mid-September 2008, just before the collapse of Lehman Brothers deepened the credit crisis.

Even though the stock market will be closed Friday, morning trading in Treasury bonds will provide insight into how investors are reacting to the monthly jobs report, which is the most closely watched piece of data on the economic calendar.

"It has a ripple effect and a psychological effect," said Daniel Penrod, senior industry analyst for the California Credit Union League in Ontario, Calif., referring to health of the job market. A gain in employment would nudge other economic readings higher.

Meanwhile, the Institute for Supply Management said that its manufacturing index rose to 59.6 in March from 56.5 in February. Analysts polled by Thomson Reuters had expected 57. It was the fastest growth since July 2004.

Stocks rose at the start of the week after the government reported that consumer spending rose for a fifth straight month in February. That raised expectations for a recovery in the economy. The market inched higher Tuesday. On Wednesday, a modest drop in stocks did little to damage a strong quarter. The Dow gained 4.1 percent, its best first-quarter performance since 1999. The S&P 500 rose 4.9 percent for its best first-quarter since 1998.

Next week, investors will get reports on the nation's service industry and on pending home sales and consumer credit.

In other trading Thursday, the Russell 2000 index of smaller companies rose 5.34, or 0.8 percent, to 683.98.

Among stocks, Occidental rose $2.06, or 2.4 percent, to $86.60. Diamond Offshore Drilling rose $2.20, or 2.5 percent, to $91.01.

Research in Motion fell $5.49, or 7.4 percent, to $68.48.

Citigroup Inc.'s Primerica saw one of the most successful initial public offerings of 2010. Primerica shares jumped $4.65, or 31 percent, to $19.65. Initial investors paid $15 a share.

Three stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to a light 3.8 billion shares, compared with 4.7 billion Wednesday.

Overseas markets rose after reports indicated growth in manufacturing in China and the 16-country bloc that uses the euro. A separate report found that corporate leaders in Japan are more confident about the business climate.

Britain's FTSE 100 rose 1.2 percent, Germany's DAX index gained 1.3 percent, and France's CAC-40 rose 1.5 percent. Japan's Nikkei stock average rose 1.4 percent.

The Dow Jones industrial average closed the week up 76.71 points, or 0.7 percent, at 10,927.07. The Standard & Poor's 500 index rose 11.51, or 1 percent, to 1,178.10. The Nasdaq composite index rose 7.45, or 0.3 percent, to 2,402.58.

The Russell 2000 index, which tracks the performance of small company stocks, rose 5.01, or 0.7 percent, for the week to 683.98.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 12,124.40, up 120.46, or 1 percent.

6690


----------



## bigdog

Source: http://finance.yahoo.com

Broad-based buying on the back of upbeat data boosted the major indices to fresh 52-week highs, but the widely watched Dow couldn't quite make its way to the psychologically significant 11,000 mark. 

The stock market was closed in observance of Good Friday when the latest nonfarm payrolls report was released last week, so many market participants treated the jobs numbers like new. Though the numbers were mixed, including a smaller-than-expected increase of 162,000 in total jobs during March and a steady unemployment rate of 9.7%, a deeper dig into the data revealed that there was a larger-than-expected increase in private sector payrolls. 

Stocks advance as jobs report, improvement in services industries boost recovery hopes 

Stronger reports on jobs and the nation's services industries lifted stocks Monday and pushed the Dow Jones industrial average toward the 11,000 mark.

The Dow rose 46 points and moved closer to crossing the psychological benchmark of 11,000 for the first time in 18 months. Growing confidence about the economy hurt demand for Treasurys and drove up interest rates. The yield on the 10-year Treasury note briefly rose to 4 percent, its highest level since June.

The government's report Friday that the economy posted its biggest job gain in three years in March raised expectations that a recovery is taking hold. Reports Monday of strong improvements in demand at services businesses and in the housing market added to an optimistic mood among traders.

*The NYSE DOW closed HIGHER +46.48 points +0.43% on Monday April 5*
Sym. Last......... ........Change.......... 
Dow 10,973.55 +46.48 +0.43% 
Nasdaq 2,429.53 +26.95 +1.12% 
S&P 500 1,187.44 +9.34 +0.79% 
30-yr Bond 4.8430% +1.1500 

NYSE Volume 4,261,271,500  (prior day 4,508,887,500)
Nasdaq Volume 2,048,298,380  (prior day 2,283,116,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,744.89 closed Monday April 5 
DAX 6,235.56 closed Monday April 5 
CAC 40 4,034.23 closed Monday April 5

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 11,339.30 +53.21 +0.47%  
Hang Seng 21,537.00 closed Monday April 5  
Straits Times 2,968.38 +25.36 +0.86% 

http://finance.yahoo.com/news/Stron...2.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stronger jobs, services reports send stocks higher

Stocks advance as jobs report, improvement in services industries boost recovery hopes *

Tim Paradis, AP Business Writer, On Monday April 5, 2010, 5:49 pm 

NEW YORK (AP) -- Stronger reports on jobs and the nation's services industries lifted stocks Monday and pushed the Dow Jones industrial average toward the 11,000 mark.

The Dow rose 46 points and moved closer to crossing the psychological benchmark of 11,000 for the first time in 18 months. Growing confidence about the economy hurt demand for Treasurys and drove up interest rates. The yield on the 10-year Treasury note briefly rose to 4 percent, its highest level since June.

The government's report Friday that the economy posted its biggest job gain in three years in March raised expectations that a recovery is taking hold. Reports Monday of strong improvements in demand at services businesses and in the housing market added to an optimistic mood among traders.

The Labor Department said that employers added 162,000 jobs in March. That was fewer than economists had forecast but there was more hiring by private employers and less temporary hiring by the government than expected. The stock market was closed for Good Friday so traders couldn't react to the report until Monday.

Gains in jobs could help the economy by boosting consumer spending.

The Institute for Supply Management, a trade group, said that its index of activity in the nation's service industries rose in March to 55.4 from 53 in February. That was stronger than the reading of 54 economists had forecast. A rise in backorders signaled that businesses aren't keeping up with demand. The index covers industries including health care, retail and financial services.

Meanwhile, the National Association of Realtors said the number of people who agreed to buy a previously occupied home rose 8.2 percent in February from January. Signed contracts indicate what home sales will do in the coming months. Analysts said some of the gain came from buyers hoping to meet a tax credit that expires April 30.

The reports added to a sense among many analysts that the economy is making strides. Major stock indexes have been climbing for 13 months with little interruption. Since February, stocks have drawn most of their gains from steady advances rather than the big bursts higher that occurred last year.

"The investors that have been buying over the past year are getting rewarded for their expectations that the economy is going to make a turn," said Alan Lancz, money manager at Alan B. Lancz & Associates in Toledo, Ohio.

The Dow rose 46.48, or 0.4 percent, to 10,973.55, its highest close in 18 months. The Dow came within 12 points of 11,000. It hasn't traded above that level since Sept. 29, 2008.

The broader Standard & Poor's 500 index rose 9.34, or 0.8 percent, to 1,187.44. It also stands at an 18-month high.

The technology-dominated Nasdaq composite index rose 26.95, or 1.1 percent, to 2,429.53. The Nasdaq is at its best level since Aug. 15, 2008.

The day's trading signaled that investors are growing more confident, at least for now. Consumer staples and health care shares lagged. Investors look for these stocks in downturns because the businesses provide necessities. Traders often turn to faster-growing areas when the economy looks ready to recover. Technology, industrial and consumer discretionary stocks outpaced the gains of other industries.

The Russell 2000 index of smaller companies rose 13.67, or 2 percent, to 697.65. Investors often pick up shares of small companies ahead of a rebound because they expect earnings will be quicker to improve than at bigger businesses.

The economic numbers pushed Treasury prices lower. The yield of the 10-year note, which moves opposite its price, rose to 3.99 percent from 3.94 percent Friday. It topped 4 percent for the first time since June.

An increase in interest rates could hurt the economy by raising borrowing costs. The yield on the 10-year note is tied to mortgages and other consumer loans.

John Apruzzese, partner and equity portfolio manager at Evercore Wealth Management in New York said the market's more subdued climb in the past two months could eventually bring some investors to put more money in stocks.

"The lower volatility is better. I think it makes the markets appear a little more sane," he said. "That's a trend that could go on for a while."

Apruzzese also said the increase in stocks is justified and that even the prospect of a gradual rise in interest rates from historic lows shouldn't disrupt a recovery.

The dollar fell against other major currencies, while gold rose.

One potential obstacle for the economy could come from a rise in energy prices. Gasoline and oil prices hit 18-month highs Monday after the reports on jobs, services and housing indicated that demand could be picking up as the economy improves.

Crude oil rose $1.75 to $86.62 per barrel on the New York Mercantile Exchange.

Energy stocks logged some of the biggest gains. Southwestern Energy Co. rose $1.26, or 3 percent, to $42.74, while Pioneer Natural Resources Co. climbed $2.25, or 3.8 percent, to $61.40.

Apple Inc. rose $2.52, or 1.1 percent, to $238.49 after the company said it sold more than 300,000 iPads on the first day the touch-screen tablet devices became available.

Three stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to a light 3.8 billion shares, in line with Thursday. Light volume indicates fewer traders are driving the market higher.

Overseas, Japan's Nikkei stock average rose 0.5 percent. European markets remained closed for Easter.


----------



## bigdog

Source: http://finance.yahoo.com

A pullback by the buck and strength among financials combined to help the broader market make its way up to a new 52-week high after stocks had traded with a modest loss in the early going. Gains faded a bit into the close, but overall price action remained positive. 

Participants pressured stocks in the early going as the greenback gained ground against competing currencies. It was up nearly 0.7% at its session high, but that gain was cut shortly after the midafternoon release of minutes from the latest FOMC meeting. According to those minutes, the Fed's language regarding low interest rates for an extended period of time does not preclude the Fed from promptly tightening policy. Still, the Fed added that the extended period language could last longer if economy worsens or inflation declines. To the latter point, the FOMC members indicated that consumer spending in the first quarter still seemed constrained and that data has shown a greater-than-expected decline in inflation. Given those observations the Dollar Index dipped to close with a gain of 0.3%.

Stocks post modest moves after financials rise, tech slips; Dow remains near 11,000 mark 

The Dow Jones industrial average edged close to the 11,000 mark but failed to cross it for a second day.

The Dow ended down about 4 points, while broader indexes rose. Interest rates fell after rising on Monday.

As it had Monday, the Dow rose to within about a dozen points of the psychological milestone of 11,000 before retreating. It hasn't been above that mark in 18 months.

The NYSE DOW closed LOWER -3.56 points -0.03% on Tuesday April 6
Sym. Last......... ........Change.......... 
Dow 10,969.99 -3.56 -0.03% 
Nasdaq 2,436.81 +7.28 +0.30% 
S&P 500 1,189.43 +1.99 +0.17% 
30-yr Bond 4.84% +0.01 

NYSE Volume 4,615,025,000  (prior day 4,261,271,500)
Nasdaq Volume 2,122,137,250  (prior day 2,048,298,380)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,780.35 +35.46 +0.62% 
DAX 6,252.21 +16.65 +0.27% 
CAC 40 4,053.94 +19.71 +0.49% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 11,282.32 -56.98 -0.50%  
Hang Seng 21,537.00 +297.65 +1.40%  
Straits Times 2,975.51 +7.13 +0.24% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks wander on thin news; Dow stays below 11,000

Stocks post modest moves after financials rise, tech slips; Dow remains near 11,000 mark *

Stephen Bernard and Tim Paradis, AP Business Writers, On Tuesday April 6, 2010, 6:24 pm 

NEW YORK (AP) -- The Dow Jones industrial average edged close to the 11,000 mark but failed to cross it for a second day.

The Dow ended down about 4 points, while broader indexes rose. Interest rates fell after rising on Monday.

As it had Monday, the Dow rose to within about a dozen points of the psychological milestone of 11,000 before retreating. It hasn't been above that mark in 18 months.

Shares of regional banks Regions Financial Corp. and SunTrust Banks Inc. rose following upbeat comments from analysts. Tech stocks were mixed after business software company CA Inc. said earnings for the year will come in at the lower end of its forecast. CA also said it would cut 1,000 jobs, or about 8 percent of its work force.

Massey Energy Co. fell more than 11 percent after an underground explosion Monday afternoon blamed on methane gas killed at least 25 coal miners about 30 miles south of Charleston, W.Va. Four others were missing Tuesday following the explosion about 1.5 miles from the entrance to Massey's Upper Big Branch mine. It was the worst U.S. mining disaster since 1984.

The stock market rose to its best levels of the day in afternoon trading when the release of minutes from the Federal Reserve's last meeting signaled that policymakers are more upbeat about the economy. Analysts said, however, that the minutes contained few surprises.

The quiet trading came as investors looked for clues about whether the market could continue its upward march. Stocks have been rising for 13 months but have made steadier advances since February following reports that signal the economy is improving. The Dow has risen for each of the past five weeks, its longest winning streak since mid-April last year.

"It's no longer a question of 'Is the recovery under way?' It's a question of the pace of the recovery," said Paul Ballew, chief economist at Nationwide Insurance in Columbus, Ohio.

Companies will begin reporting earnings for the January-March quarter next week so traders will have a better sense of whether the recent climb in stocks is justified.

The Dow fell 3.56, or less than 0.1 percent, to 10,969.99. It was only the Dow's sixth drop in the past 27 trading days.

The Standard & Poor's 500 index rose 2.00, or 0.2 percent, to 1,189.44. The index is at an 18-month high.

The Nasdaq composite index rose 7.28, or 0.3 percent, to 2,436.81. The index stands at its best level since August 2008.

Bond prices rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.96 percent from 3.99 percent late Monday.

The 10-year yield climbed above 4 percent during trading Monday for the first time since June. It is approaching levels not seen since October 2008.

A rise in rates signals in part that investors feel more comfortable about the recovery. That is hurting demand for safer holdings like Treasurys. However, a jump in borrowing costs could slow the rebound.

The dollar rose against other major currencies. Gold rose.

Crude oil rose 22 cents to $86.84 per barrel on the New York Mercantile Exchange after reaching an 18-month high of $87.09 a barrel.

Whether the recovery can continue depends on the labor market. On Friday, the government reported that the economy posted its biggest job gain in three years in March.

"You have to have the average consumer making more this year than last year in order for the economy to grow longer-term," said Jason D. Pride, director of investment strategy at Glenmede in Philadelphia.

Regions Financial rose 36 cents, or 4.4 percent, to $8.55 after Credit Suisse raised its price target on the bank. Shares of SunTrust rose after Credit Suisse said foreign banks could see SunTrust as an attractive takeover target. The stock advanced 97 cents, or 3.5 percent, to $28.71.

CA shares fell 45 cents, or 1.9 percent, to $23.40.

Massey fell $6.24, or 11.4 percent, to $48.45.

About three socks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to a light 4.1 billion shares compared with 3.8 billion Monday. The lighter volume typically indicates that fewer investors are trading in the market. That allows fewer buyers to drive stocks higher.

The Russell 2000 index of smaller companies rose 3.83, or 0.6 percent, to 701.48. The Russell reached a 12-month high of 702.65 during trading.

Britain's FTSE 100 rose 0.6 percent, Germany's DAX index rose 0.3 percent, and France's CAC-40 rose 0.5 percent. Japan's Nikkei stock average fell 0.5 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Moderate weakness mired stocks for most of the session, but a failed attempt to push into positive prompted sellers to intensify their efforts and hand the stock market its worst loss in more than one month. 

A lack of positive catalysts in the early going left market participants without reason to chase stocks to new highs, which have become increasingly difficult register in recent sessions.

Stocks fall as concerns deepen about the market's rapid climb; Dow industrials drop 72 points 

A late-day slide broke the stock market's calm Wednesday after concerns grew that shares are overheated.

A disappointing drop in consumer borrowing and a slide in oil prices hit a market that analysts said has been looking tired. The Dow Jones industrial average fell 72 points after repeated attempts this week to cross the psychological threshold of 11,000. It hasn't been above that level in 18 months.

It was the Dow's biggest drop since Feb. 23. It had been down by as much as 125 points during the day, its first triple-digit slide since February.

*The NYSE DOW closed LOWER -72.47 points -0.66% on Wednesday April 7*
Sym. Last......... ........Change.......... 
Dow 10,897.52 -72.47 -0.66% 
Nasdaq 2,431.16 -5.65 -0.23% 
S&P 500 1,182.44 -6.99 0.59% 
30-yr Bond 4.7440% -1.0000 

NYSE Volume 5,735,214,000  (prior day 4,615,025,000)
Nasdaq Volume 2,902,300,750  (prior day 2,122,137,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,762.06 -18.29 -0.32% 
DAX 6,222.41 -29.80 -0.48% 
CAC 40 4,026.97 -26.97 -0.67% 


*Asia* *AT 4:31 PM APRIL 8 THURSDAY*
Symbol...... Last...... .....Change.......
Nikkei 225 11,168.20 -124.63 -1.10% 
Hang Seng 21,891.59 -37.18 -0.17% 
Straits Times 2,962.05 -26.05 -0.87% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Stock slide punctures 2-month streak of gains

Stocks fall as concerns deepen about the market's rapid climb; Dow industrials drop 72 points*

Tim Paradis, AP Business Writer, On Wednesday April 7, 2010, 5:52 pm EDT 

NEW YORK (AP) -- A late-day slide broke the stock market's calm Wednesday after concerns grew that shares are overheated.

A disappointing drop in consumer borrowing and a slide in oil prices hit a market that analysts said has been looking tired. The Dow Jones industrial average fell 72 points after repeated attempts this week to cross the psychological threshold of 11,000. It hasn't been above that level in 18 months.

It was the Dow's biggest drop since Feb. 23. It had been down by as much as 125 points during the day, its first triple-digit slide since February.

Analysts said the market has been due for a break after two months of steady gains. The benchmark Standard & Poor's index reached an 18-month high on Tuesday. It had risen 12.6 percent in just two months.

The market found some support in afternoon trading following strong demand at a government bond auction. That sent interest rates lower following a spike on Monday.

The drop in stocks resumed in the final hour of trading, however, after the Federal Reserve said consumer borrowing fell by $11.5 billion in February. Analysts had expected a modest gain of $500 million. The drop, resulting from weakness in credit cards and auto loans, raised concerns that consumer spending will remain weak.

Stocks started the day weaker after Greece's borrowing costs rose again and its stock market slid on concerns that the country could default on its debt. Greece's financial woes have undermined confidence in Europe's shared currency, the euro, and caused jitters on world markets.

Even with the setbacks triggered by Greece's fiscal crisis, U.S. stocks have been on a nearly unbroken climb for 13 months. The past two months of gains have come mainly from modest moves upward, in contrast to the triple-digit gains that were common early in the market's recovery. Investors have been encouraged by a string of reports showing steady improvement in the economy, including a report Friday that U.S. employers created 162,000 jobs in March, the most in three years.

Mike Shea, managing partner at Direct Access Partners LLC in New York, said the market needed to digest the recent climb by pulling back. "To me, good markets behave like this," he said.

The Dow fell 72.47, or 0.7 percent, to 10,897.52. The Dow had flirted with the 11,000 level in recent days, but hadn't crossed it. It came within 12 points of 11,000 on Monday and Tuesday before retreating.

The Standard & Poor's 500 index fell 6.99, or 0.6 percent, to 1,182.45, while the Nasdaq composite index fell 5.65, or 0.2 percent, to 2,431.16.

Mark Coffelt, portfolio manager at Empiric Funds in Austin, Texas, said the drop in stocks is likely to be modest because so many investors are waiting to put money in the market.

"We're probably a little overdue for a correction," Coffelt said. "I think it's going to be pretty light as much of the public is underinvested."

The government's auction of $21 billion in 10-year notes saw stronger demand than at other auctions this year. The 10-year note is used as a benchmark for many consumer loans. Bond yields have been rising in recent weeks, which has pushed interest rates higher.

The yield on the benchmark 10-year Treasury note, which moves opposite to its price, fell to 3.87 percent from 3.96 percent late Tuesday. On Monday, its yield climbed above 4 percent for only the second time since October 2008.

The concern has been that if rates rise too fast, it could slow the economic recovery. The Mortgage Bankers Association said the average rate on 30-year, fixed-rate mortgages surged to 5.31 percent last week from 5.04 percent a week earlier.

Denis Amato, chief investment officer at Ancora Advisors in Cleveland, said a rise in rates could stall the stock market's climb. He noted that historically stocks continue to rise when rates start to creep up because the ease in demand for safety holdings is a sign that investors feel more confident about the economy.

If rates continue to climb, however, concern builds that higher borrowing costs will slow a recovery.

"Eventually it catches up and they recognize that, well yeah, things are getting better but it's going to mean higher rates," Amato said.

The dollar rose against other major currencies. Gold rose.

Crude oil fell 96 cents to $85.88 per barrel on the New York Mercantile Exchange after hitting an 18-month high on Tuesday.

The drop in oil hurt energy stocks. Exxon Mobil Corp. fell 56 cents, or 0.8 percent, to $67.34, while Occidental Petroleum Corp. fell $2.19, or 2.5 percent, to $86.30.

About two stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 4.4 billion shares compared with 4.1 billion Tuesday.

The Russell 2000 index of smaller companies fell 2.02, or 0.3 percent, to 699.46.

Britain's FTSE 100 dropped 0.3 percent, Germany's DAX index fell 0.5 percent, and France's CAC-40 lost 0.7 percent. Investors are concerned that debt problems in Greece and other European countries could upend a global economic recovery.

Japan's Nikkei stock average rose 0.1 percent. Japan's central bank said it would hold its key interest rate steady, and that it sees a recovery taking hold. Asian shares also rose after the World Bank boosted its growth forecast for developing economies in East Asia.


----------



## bigdog

Source: http://finance.yahoo.com

Leadership from the financial sector helped the stock market fight off back-to-back losses to book a solid gain. A downturn by the dollar helped, too. 

The S&P 500 was down as much as 0.6% in the first few minutes of trade. Participants extended the prior session's selling effort as concerns about Greece's borrowing ability were rekindled. In fact, the cost to insure Greece's bonds climbed to a record high. That development weakened the euro and drove the dollar modestly higher. 

Stocks turn higher after gain in retail sales offsets concerns about Greece debt; Dow adds 30

The stock market recovered from an early slide after an increase in retail sales overshadowed concerns about Greece's debt problems and the job market.

The Dow Jones industrial average finished with a gain of 30 points after being down 53 and falling the prior two days. Broader indexes also rose.

The market turned higher around midday after sales gains at the nation's major retailers raised expectations for the economy as well as the corporate earnings reports that start to arrive next week.

*The NYSE DOW closed HIGHER +29.55 points +0.27% on Thursday April 8*
Sym. Last......... ........Change.......... 
Dow 10,927.07 +29.55 +0.27% 
Nasdaq 2,436.81 +5.65 +0.23% 
S&P 500 1,186.43 +3.99 +0.34% 
30-yr Bond 4.7610% +0.0170 

NYSE Volume 5,293,107,500  (prior day 5,735,214,000)
Nasdaq Volume 2,343,521,000  (prior day 2,902,300,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,712.70 -49.36 -0.86% 
DAX 6,171.83 -50.58 -0.81% 
CAC 40 3,978.46 -48.51 -1.20% 

*Asia *
Symbol...... Last...... .....Change.......
Nikkei 225 11,168.20 -124.63 -1.10%  
Hang Seng 21,867.04 -61.73 -0.28%  
Straits Times 2,963.19 -24.91 -0.83% 

http://finance.yahoo.com/news/Inves...2.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Investors look past Greece worries to retail sales

Stocks turn higher after gain in retail sales offsets concerns about Greece debt; Dow adds 30 *

Tim Paradis, AP Business Writer, On Thursday April 8, 2010, 5:54 pm EDT 

NEW YORK (AP) -- The stock market recovered from an early slide after an increase in retail sales overshadowed concerns about Greece's debt problems and the job market.

The Dow Jones industrial average finished with a gain of 30 points after being down 53 and falling the prior two days. Broader indexes also rose.

The market turned higher around midday after sales gains at the nation's major retailers raised expectations for the economy as well as the corporate earnings reports that start to arrive next week.

Improved weather and an early Easter lifted sales at stores open at least a year by 9 percent in March, based on results from 31 retailers compiled by the International Council of Shopping Centers.

The stock market began the day lower following drops overseas. Greece's borrowing costs rose to a record level Thursday, signaling that a rescue plan from other European countries and the International Monetary Fund might not be enough to prevent a default.

Investors are concerned that losses on Greek debt would further undermine the euro and trip up a rebound in the global economy. The country's budget deficit has been one of the few drags on stock markets around the world so far in 2010.

A disappointing report on initial jobless claims added to the downbeat mood early in the day. The Labor Department said initial claims for jobless benefits rose unexpectedly last week, jumping 18,000 to a seasonally adjusted 460,000. Economists polled by Thomson Reuters had forecast a drop.

Last week, the government said that employers added 162,000 jobs in March, the most in three years.

The market has been shifting directions this week after two months of nearly unbroken gains. The Standard & Poor's 500 index reached an 18-month high on Tuesday after rising 12.6 percent since early February. Analysts said the gains were big enough that a pause shouldn't alarm investors.

Tim Speiss, chairman of Personal Wealth Advisors practice at Eisner LLP in New York, said the interest among some buyers in pouncing on drops in the market is likely to continue.

"I don't believe at all that we're going to have any kind of correction," he said. A correction refers to a drop of at least 10 percent from a peak. There have been five drops of 5 to 8 percent since major stock indexes hit 12-year lows 13 months ago but none have topped 10 percent.

The Dow rose 29.55, or 0.3 percent, to 10,927.07, the exact level where it closed a week earlier. The S&P 500 index rose 3.99, or 0.3 percent, to 1,186.44, while the Nasdaq composite index rose 5.65, or 0.2 percent, to 2,436.81.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where consolidated volume came to 4.8 billion shares, compared with 4.4 billion Wednesday.

Stocks retreated this week after the Dow flirted with 11,000 on Monday and Tuesday for the first time in 18 months.

Bond prices were little changed. The yield on the benchmark 10-year Treasury note rose to 3.89 percent from 3.87 percent late Wednesday.

The 10-year yield fell Wednesday after an auction for the notes was welcomed with strong demand from investors. Yields had been rising steadily in recent weeks on concerns about high levels of supply and continued signs of economic growth. A $13 billion auction in 30-year bonds Thursday met expectations.

Sales reports from retailers showed consumers are beginning to return to stores.

Target Corp. and TJX Cos., the owner of T.J. Maxx, Marshalls and other discount stores, increased their first-quarter earnings forecasts following strong sales in March. Macy's Inc. posted March sales that topped analysts' expectations.

Target rose $1.63, or 3 percent, to $55.64, while TJX rose 20 cents to $44.82. Macy's rose 19 cents to $22.65.

The increased forecasts and sales reports raised already high expectations for earnings from the January-March quarter. The stock market has been climbing on expectations that profit reports will be stronger.

"We're kind of in a little bit of a tug-of-war here," said Jay Feeney, chief investment officer at Robeco Investment Management in Boston. "The market has run up pretty significantly, earnings expectations have come up pretty dramatically and now I think we're going to be in a little bit of a wait-and-see."

Gold and oil fell, while the dollar rose.

Crude oil fell 49 cents to $85.39 per barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 0.18, or less than 0.1 percent, to 699.64.

Britain's FTSE 100 fell 0.9 percent, Germany's DAX index dropped 0.8 percent, and France's CAC-40 fell 1.2 percent. Japan's Nikkei stock average fell 1.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 70.28 points, or 0.6 percent, at 10,997.35. The Standard & Poor's 500 index rose 16.27, or 1.4 percent, to 1,194.37. The Nasdaq composite index rose 51.47, or 2.1 percent, to 2,454.05

Most of this session was spent in choppy trade with modest gains, but a late flurry of buying boosted the stock market to its best intraday levels and highest close since September 2008. 

Stocks spent the majority of the session broadly higher, but overall gains were held in check amid persistent wariness about the financial health of Greece. Those concerns became more real when analysts at Fitch downgraded Greece's debt rating to BBB-, but shortly thereafter Reuters reported that eurozone finance officials have reached a deal on how to provide loans to Greece if they are needed. 

The stock market closed at a new 18-month high Friday, with the Dow Jones industrial average briefly touching 11,000 before retreating slightly.

The gains were driven by fresh signs that the economy continues to recover. Many analysts remain skeptical that the market's gains are sustainable since they have come on relatively low volume, indicating that a large number of investors are still sitting on the sidelines.

The Dow very briefly touched 11,000 in the final five minutes of trading before ending with a gain of 70 points. It hadn't crossed that level since Sept. 29, 2008, just as the worst phase of the financial crisis was beginning.

*The NYSE DOW closed HIGHER +70.28 points +0.64% on Friday April 9*
Sym. Last......... ........Change.......... 
Dow 10,997.35 +70.28 +0.64% 
Nasdaq 2,454.05 +17.24 +0.71% 
S&P 500 1,194.37 +7.94 +0.67% 
30-yr Bond 4.7460% -0.1500 

NYSE Volume 4,994,104,000  (prior day 5,293,107,500) 
Nasdaq Volume 2,129,072,500  (prior day 2,343,521,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,770.98 +58.28 +1.02% 
DAX 6,249.70 +77.87 +1.26% 
CAC 40 4,050.54 +72.08 +1.81% 

*Asia *
Symbol...... Last...... .....Change.......
Nikkei 225 11,204.34 +36.14 +0.32% 
Hang Seng 22,208.50 +341.46 +1.56% 


http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks rise on more signs of growth; Dow tops 11K

Stocks rise as economy shows signs of growth; Dow briefly crosses 11,000 *

Ieva M. Augstums and Stephen Bernard, AP Business Writers, On Friday April 9, 2010, 6:39 pm 
NEW YORK (AP) -- The stock market closed at a new 18-month high Friday, with the Dow Jones industrial average briefly touching 11,000 before retreating slightly.

The gains were driven by fresh signs that the economy continues to recover. Many analysts remain skeptical that the market's gains are sustainable since they have come on relatively low volume, indicating that a large number of investors are still sitting on the sidelines.

The Dow very briefly touched 11,000 in the final five minutes of trading before ending with a gain of 70 points. It hadn't crossed that level since Sept. 29, 2008, just as the worst phase of the financial crisis was beginning.

Stocks got a boost after reassuring statements from Greece's finance minister and the head of the European Central Bank. Major European indexes closed higher, while the dollar fell against the euro.

Major indexes pulled back briefly after Fitch Ratings cut its view on Greece's debt, but quickly recovered. Stocks have been fluctuating in recent days and the euro has weakened because of concerns that Greece might default on its debt.

Greece's deepening fiscal crisis has upset other financial markets and caused concerns that other weak European countries also might default on their debt, which could cause a crisis for Europe's shared currency.

"If (Greece) falls apart, it makes everything else there fall apart," Chip Cobb, a senior vice president at Bryn Mawr Trust Asset Management in Bryn Mawr, Pa. "Greece is becoming a real thorn in the side."

Rising commodity prices also helped energy and material stocks, pushing indexes higher. Commodities mostly climbed on hopes demand will jump as the economy continues to improve. Chevron Corp. and ExxonMobil Corp. both rose.

The Dow Jones industrial average crept toward 11,000 throughout the day, having come within 12 points of that barrier on both Monday and Tuesday before closing lower.

While the Dow's approach to 11,000 has been a big focus for many individual investors, a number of Wall Street analysts downplay its importance for professional money managers. The Dow has crossed the 11,000 level 34 times since first hitting it in May of 1999.

"Round numbers are always psychologically significant," but rarely do they represent a technical milestone such as an index breaking out of a recent trading range, said Uri Landesman, head of global growth at ING Investment Management in New York.

The Dow rose 70.28, or 0.6 percent, to close at 10,997.35. The Standard & Poor's 500 index climbed 7.93, or 0.7 percent, to 1,194.37. The Nasdaq composite index rose 17.24, or 0.7 percent, to 2,454.05.

The Dow's rise Friday gives the index its sixth straight weekly gain for the first time since a stretch in March and April last year, just after market bottomed out at 12-year lows. The Dow started the day at exactly the same level it closed last week.

The Dow Jones industrial average is now up 68 percent from a 12-year low of 6,547.05 on March 9, 2009. It's still down 22 percent from its October 2007 peak of 14,164.53.

A report on wholesale inventories Friday provided the latest positive sign on the economy. The Commerce Department said inventories rose 0.6 percent in February, better than the 0.4 percent forecast by economists polled by Thomson Reuters.

Sales at wholesalers also rose faster than expected, gaining 0.8 percent. It was the 11th straight month of rising sales. Economists had forecast a 0.5 percent rise.

Consistently rising inventories and sales at the wholesale level mean that manufacturers are getting steady orders that should allow them to hire more workers. It also means retailers are ramping up orders as consumers return to stores after curtailing their spending during the recession.

The start of earnings reports could give the Dow the push it needs to close above 11,000 if investors see companies continuing to increase profits. Reports are expected next week from Aloca Inc., as well as JPMorgan Chase & Co. and Bank of America Corp. Traders will also have plenty of economic data to digest, including March retail sales Wednesday and housing starts Friday.

Advancing stocks narrowly outpaced those that fell two to one on the New York Stock Exchange, where consolidated volume came to 4.4 billion shares, compared with 4.8 billion shares Thursday.

Benchmark crude for May delivery pulled back from morning highs to close down 47 cents at $84.92 a barrel.

Chevron jumped $1.84, or 2.4 percent, to close at $79.50, while ExxonMobil rose 90 cents to $68.76. J.C. Penney climbed 54 cents to $31.52.

Bond prices edged up. The yield on the 10-year Treasury note fell to 3.88 percent from 3.89 percent late Thursday.

The Russell 2000 index of smaller companies rose 3.31, or 0.5 percent, to 702.95.

Britain's FTSE 100 gained 1 percent, Germany's DAX index rose 1.3 percent, and France's CAC-40 jumped 1.8 percent. Japan's Nikkei stock average rose 0.3 percent.

The Dow Jones industrial average closed the week up 70.28 points, or 0.6 percent, at 10,997.35. The Standard & Poor's 500 index rose 16.27, or 1.4 percent, to 1,194.37. The Nasdaq composite index rose 51.47, or 2.1 percent, to 2,454.05.

The Russell 2000 index, which tracks the performance of small company stocks, rose 18.97, or 2.8 percent, for the week to 702.95.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 12,316.03, up 191.63, or 1.6 percent for the week.

The Index is up 81 percent -- about $6.3 trillion in market capitalization -- from a 12 1/2-year low of 6800.08 on March 9, 2009. It's still down nearly 22 percent -- or about $4.8 trillion in value -- from its October 2007 peak of 15,745.39.

7205


----------



## bigdog

Source: http://finance.yahoo.com

An agreement by ministers of the European Union to provide financial aid to Greece drove down the dollar and helped stocks hit new 52-week highs, but overall gains remained modest as market participants exercised caution ahead of earnings season.

The Dow Jones industrial average closed above 11,000 for the first time in a year and a half on investors' rising hopes about the economy.

The Dow edged up about 9 points Monday to almost 11,006. The Standard & Poor's 500 index came within a point of hitting its own milestone of 1,200 during trading but closed just short of that mark.

Analysts said the Dow's move above 11,000 could provide a psychological boost and perhaps draw more investors to the market.

*The NYSE DOW closed HIGHER +8.62 points +0.08% on Monday April 12*
Sym. Last......... ........Change.......... 
Dow 11,005.97 +8.62 +0.08% 
Nasdaq 2,457.87 +3.82 +0.16% 
S&P 500 1,196.48 +2.11 +0.18% 
30-yr Bond 4.6980% -0.4800 

NYSE Volume 5,066,973,500  (prior day 4,994,104,000)
Nasdaq Volume 2,061,967,500  (prior day 2,129,072,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,777.65 +6.67 +0.12% 
DAX 6,250.69 +0.99 +0.02% 
CAC 40 4,050.50 -0.04 -0.00% 

*Asia *
Symbol...... Last...... .....Change.......
Nikkei 225 11,251.90 +47.56 +0.42%  
Hang Seng 22,138.17 -70.33 -0.32%  
Straits Times 2,977.17 +5.20 +0.17% 

http://finance.yahoo.com/news/Dow-e...2.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Dow ends above 11,000 for first time in 18 months

Stocks climb after Greece loan agreement curbs default fears; Dow closes above 11,000 *

Tim Paradis, AP Business Writer, On Monday April 12, 2010, 6:44 pm 

NEW YORK (AP) -- The Dow Jones industrial average closed above 11,000 for the first time in a year and a half on investors' rising hopes about the economy.

The Dow edged up about 9 points Monday to almost 11,006. The Standard & Poor's 500 index came within a point of hitting its own milestone of 1,200 during trading but closed just short of that mark.

Analysts said the Dow's move above 11,000 could provide a psychological boost and perhaps draw more investors to the market.

"There is a huge stockpile of cash on the sidelines earning virtually nothing," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. "Maybe this can help shake a few people into the market."

Stocks have been rising this year on growing expectations that the economy will shake off job market weakness and housing problems. A test of whether the Dow can hold the 11,000 mark will come in the next three weeks when companies report earnings. Investors also will want to see whether the government's next employment report, due in early May, shows that employers added jobs in April as they did during March.

On Monday, a loan agreement for Greece allowed U.S. investors to focus on domestic economic and corporate news, including announcements of two big deals.

European Union leaders agreed over the weekend to make loans available to Greece to help the country lower its public debt burden. The 16 countries that use the euro agreed to provide $40.5 billion to Greece if needed. The International Monetary Fund could contribute another $13.5 billion.

Investors have been concerned that mounting debt in Greece and other European nations including Spain and Portugal would stunt a global recovery.

"This is clearly a positive development that the EU is identifying and dealing with what has really been it's first real challenge," said Alan Gayle, senior investment strategist for RidgeWorth Investments.

Meanwhile, the latest round of corporate dealmaking signaled that business leaders are more confident about a recovery.

Mirant Corp. agreed to acquire rival power company RRI Energy Inc. for $1.61 billion, while the private equity firm Cerberus Capital Management is buying DynCorp International, a provider of support services to U.S. national security operations, for $1 billion.

The reports on Greece and the corporate buyouts raised expectations that the economy is recovering. Hopes of a rebound have been driving the stock market higher for 13 months. The advance since February has been more incremental but the gains have still left major stock indexes at their best levels since 2008.

The Dow rose 8.62, or 0.1 percent, to 11,005.97. It was the Dow's first close above 11,000 since Sept. 26, 2008. The index climbed above 11,000 in the final moments of trading Friday before fading below the threshold.

The Dow has posted six straight weekly advances, its longest winning streak in a year. The index has added 1,000 points in two months. The index's only close below 10,000 this year came on Feb. 8. Since then, it's up 11 percent.

It has risen 68.1 percent since hitting a 12-year low in March last year though it is still down 22.3 percent from its peak or 14,164.53 in October 2007.

In other trading, the S&P 500 index rose 2.11, or 0.2 percent, to 1,196.48. It traded has high as 1,199.20. It hasn't topped 1,200 since September 2008.

The Nasdaq composite index rose 3.82, or 0.2 percent, to 2,457.87.

Bond prices rose, and the advance pushed down interest rates. The yield on the benchmark 10-year Treasury note fell to 3.85 percent from 3.88 percent late Friday.

Gold rose. Crude oil fell 58 cents to $84.34 per barrel on the New York Mercantile Exchange.

Alcoa Inc., the first of the Dow industrials to report first-quarter earnings, said late Monday it had a smaller loss than during the first three months of last year. But the aluminum company's revenue fell short of expectations, and its stock fell 6 cents to $14.51 in after-hours activity. Alcoa was up 18 cents to $14.57 during regular trading.

Mirant rose $1.95, or 18.2 percent, to $12.68, while RRI rose 58 cents, or 14.7 percent, to $4.53. DynCorp surged $5.66, or 48.2 percent, to $17.41.

Three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to 4.6 billion shares, compared with 4.4 billion Friday.

The Russell 2000 index of smaller companies rose 2.11, or 0.3 percent, to 705.06.

Britain's FTSE 100 rose 0.1 percent, Germany's DAX index rose less than 0.1 percent, and France's CAC-40 slipped less than 0.1 percent. Japan's Nikkei stock average rose 0.4 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Market participants were initially uninspired by mixed results from Alcoa, but interest in tech plays ahead of Intel's latest report helped the broader market muster a fractional gain. A slight dip by the dollar helped, too. 

The Dow Jones industrial average extended its push past 11,000 Tuesday after expectations grew that stronger corporate earnings would signal that a recovery is on track.

Stocks fell in early trading after quarterly results from aluminum producer Alcoa Inc. missed expectations. Major indexes later poked higher as traders jockeyed for position ahead of earnings from leading chipmaker Intel Corp., which reported strong results after the closing bell.

By the close, the Dow had tacked on about 13 points. The Dow on Monday finished above the psychological benchmark of 11,000 for the first time in a year and a half.

*The NYSE DOW closed HIGHER +13.45 points +0.12% on Tuesday April 13*
Sym. Last......... ........Change.......... 
Dow 11,019.42 +13.45 +0.12% 
Nasdaq 2,465.99 +8.12 +0.33% 
S&P 500 1,197.30 +0.82 +0.07% 
30-yr Bond 4.6690% -0.2900 

NYSE Volume 5,850,825,000  (prior day 5,066,973,500)
Nasdaq Volume 2,558,479,500 (prior day  2,061,967,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,761.66 -15.99 -0.28% 
DAX 6,230.83 -19.86 -0.32% 
CAC 40 4,031.99 -18.51 -0.46% 

*Asia *
Symbol...... Last...... .....Change.......
Nikkei 225 11,161.23 -90.67 -0.81%  
Hang Seng 22,103.53 -34.64 -0.16%  
Straits Times 2,971.60 -5.57 -0.19% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Stocks end higher on hopes for good Intel results

Dow Jones industrials extend push past 11,000 on rising expectations for Intel's results *

Stephen Bernard and Tim Paradis, AP Business Writers, On Tuesday April 13, 2010, 5:51 pm EDT 

NEW YORK (AP) -- The Dow Jones industrial average extended its push past 11,000 Tuesday after expectations grew that stronger corporate earnings would signal that a recovery is on track.

Stocks fell in early trading after quarterly results from aluminum producer Alcoa Inc. missed expectations. Major indexes later poked higher as traders jockeyed for position ahead of earnings from leading chipmaker Intel Corp., which reported strong results after the closing bell.

By the close, the Dow had tacked on about 13 points. The Dow on Monday finished above the psychological benchmark of 11,000 for the first time in a year and a half.

The results from Alcoa brought a disappointing start to the flow of earnings reports from the January-March quarter. But analysts said the company's performance didn't provide a good indication of how other companies would do.

Alcoa's loss narrowed from a year earlier but its adjusted earnings and revenue came in below analysts' estimates. Alcoa was the first of the 30 Dow stocks to report results.

The mood could brighten Wednesday following Intel's report. The company said its first-quarter profit nearly quadrupled from a year earlier when it booked a big loss on an investment. The company's earnings and revenue came in ahead of analysts' expectations and brought more evidence that businesses are again spending on technology after a drop during the financial crisis. Intel's shares rose more than 3 percent in electronic trading after hours.

Nasdaq 100 index futures rose 0.4 percent following Intel's report.

Jim McDonald, chief investment strategist at Northern Trust in Chicago, said earnings reports are likely to top expectations because few companies have warned their results will miss forecasts.

"If we continue with this pace, at the end of the second quarter we will be at a new all-time high for earnings for the U.S. economy," he said. "That's a pretty stunning achievement."

The stock market has been rising for 13 months on signs that the economy is improving. But some analysts are concerned that the rise has come too quickly.

Since major stock indexes hit 12-year lows last year, there have been five pullbacks of as much as 8 percent in the Standard & Poor's 500 index. None have topped the 10 percent mark that would signify a correction.

There have been few drops in the past two months. Instead, stocks have been notching a string of steady gains.

"The market has ground higher steadily," said Adrian Cronje, chief investment officer at the investment firm Balentine in Atlanta. "It's up a little bit every day, a little bit every day. And that tends to lull people into complacency."

The Dow rose 13.45, or 0.1 percent, to 11,019.42, its highest close since September 2008. The Dow has risen four straight days and is up 10 of the last 13 days.

The S&P 500 index rose 0.82, or 0.1 percent, to 1,197.30, while the Nasdaq composite index rose 8.12, or 0.3 percent, to 2,465.99.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where consolidatd volume came to 5.4 billion shares, compared with 4.6 billion Monday.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.82 percent from 3.85 percent late Monday.

The dollar slipped against other major currencies. Gold fell.

Oil dropped for a fifth day after Alcoa's results lowered expectations about the pace of a rebound. Light, sweet crude fell 33 cents to $84.01 per barrel on the New York Mercantile Exchange.

The Chicago Board Options Exchange's Volatility Index, which is known as the market's fear gauge, rose 4 percent a day after closing at its lowest level since July 2007. That means fewer investors are predicting big swings in the market.

Max Bublitz, chief strategist at SCM Advisors in San Francisco, is among the traders who remain cautious because of how high stocks have risen. He said that the drop in the VIX is a sign that too many investors are predicting that the smooth ride higher will continue.

"It is interesting that people have kind of forgotten all the pain and forgotten all the lessons," he said, referring to the stock market's plunge during the recession.

The S&P 500 index has jumped 77 percent since March last year but it would have to climb another 24 percent to reach its peak of 1,565 in October 2007.

Among stocks in the news, Alcoa fell 23 cents to $14.34. Intel rose 23 cents to $22.77 ahead of its report. In after-hours trading, the stock advanced 81 cents, or 3.6 percent, to $23.58.

The Russell 2000 index of smaller companies rose 1.97, or 0.3 percent, to 707.03.

Britain's FTSE 100 fell 0.3 percent, Germany's DAX index fell 0.3 percent, and France's CAC-40 fell 0.5 percent. Japan's Nikkei stock average fell 0.8 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Pleasing quarterly results from a couple of key industry players and some strong consumer spending numbers compelled market participants to push stocks higher for the fifth straight session to a new 18-month high. 

Upbeat forecasts from JPMorgan Chase & Co. and Intel Corp. propelled the stock market higher for a fifth day.

The Standard & Poor's 500 index topped the 1,200 mark Wednesday for the first time in a year and a half. The Dow Jones industrial average rose 104 points and moved above 11,100.

The good news came from all directions: Corporate earnings numbers and government reports on retail sales and regional economic conditions indicated that the recovery is taking hold.

*The NYSE DOW closed HIGHER +103.69  points +0.94% on Wednesday April 14*
Sym. Last......... ........Change.......... 
Dow 11,123.11 +103.69 +0.94% 
Nasdaq 2,504.86 +38.87 +1.58% 
S&P 500 1,210.65 +13.35 +1.12% 
30-yr Bond 4.7220% +0.5300 

NYSE Volume 6,350,777,000  (prior day 5,850,825,000)
Nasdaq Volume 3,048,264,750  (prior day 2,558,479,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,796.25 +34.59 +0.60% 
DAX 6,278.40 +47.57 +0.76% 
CAC 40 4,057.70 +25.71 +0.64% 

*Asia *
Symbol...... Last...... .....Change.......
Nikkei 225 11,204.90 +43.67 +0.39%  
Hang Seng 22,121.43 +17.90 +0.08%  
Straits Times 3,019.74 +48.14 +1.62% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks rise on Intel, JPMorgan; S&P crosses 1,200

Stock climb on earnings from Intel and JPMorgan Chase; S&P tops 1,200 and Dow adds 104 points *

Tim Paradis, AP Business Writer, On Wednesday April 14, 2010, 6:51 pm 

NEW YORK (AP) -- Upbeat forecasts from JPMorgan Chase & Co. and Intel Corp. propelled the stock market higher for a fifth day.

The Standard & Poor's 500 index topped the 1,200 mark Wednesday for the first time in a year and a half. The Dow Jones industrial average rose 104 points and moved above 11,100.

The good news came from all directions: Corporate earnings numbers and government reports on retail sales and regional economic conditions indicated that the recovery is taking hold.

One of the biggest forces behind the market's climb came from JPMorgan Chase, which reported a better-than-expected profit for the January-March quarter. The bank is still facing big losses from souring consumer loans, but CEO Jamie Dimon said there have been clear improvements in the economy.

The forecast from chipmaker Intel boosted the technology-dominated Nasdaq composite index. Intel posted earnings and revenue after the closing bell Tuesday that topped analysts' expectations. The company also raised its 2010 outlook.

JPMorgan rose 4.1 percent, while Intel added 3.3 percent.

Michael Binger, portfolio manager at Thrivent Investment Management in Minneapolis, said the strong results from leaders of the banking and technology industries are signs that a rebound is in place.

"It diminishes the chance that we go back into a double-dip recession," he said. "It lends credence that the financial industry is recovering and the tech industry is beyond recovering and is doing very well."

A Commerce Department report that retail sales rose more than expected in March added to a sense that consumers are feeling more comfortable spending.

The Federal Reserve said its survey of regional economic activity found that business was getting better in most areas of the country. The report offered a brighter assessment of the economy than the previous survey in early March.

Fed Chairman Ben Bernanke told Congress' Joint Economic Committee that the recovery should hold but that high budget deficits must be addressed to avoid big jumps in interest rates. Bernanke cautioned that unemployment will remain an obstacle.

The stock market has been rising for more than a year and has advanced steadily for two months on encouraging signs of growth. Some analysts have warned that shares have climbed too high, but the latest reports eased some concerns that prices are stretched.

The Dow rose 103.69, or 0.9 percent, to 11,123.11. The Dow closed over 11,000 on Monday for the first time since September 2008. It is up 2.1 percent in five days, its best advance since early March.

The S&P 500 index rose 13.35, or 1.1 percent, to 1,210.65. It was the biggest percentage gain since March 5. Like the Dow, the S&P 500 index is at its highest level since September 2008, when the financial crisis began. The S&P 500 index is up 79 percent from a 12-year low in March last year though it would still need to gain 23 percent to reach its October 2007 high of 1,565.

The Nasdaq rose 38.87, or 1.6 percent, to 2,504.86. It hasn't been above 2,500 since June 2008. The Nasdaq has nearly doubled since last March but it is still down by half from its peak of 5,048.62 in March 2000.

The stronger signs about the economy hurt bond prices and raised yields. The yield on the benchmark 10-year Treasury note rose to 3.87 percent from 3.82 percent late Tuesday.

The dollar fell against other major currencies, while gold rose.

Crude oil rose $1.79 to $85.84 per barrel on the New York Mercantile Exchange.

Strength at JPMorgan Chase's investment bank helped offset losses from consumer loan defaults and propelled the company's profit above analysts' expectations. JPMorgan said it plans to add 9,000 employees in the U.S.

Intel's first-quarter results easily topped analysts' expectations. The results indicated that businesses are stepping up their technology spending on growing confidence about the economy. Intel said its profit margin will be better than it had estimated for 2010 and that it plans to hire 1,000 workers.

JPMorgan and Intel were the biggest gainers among the 30 stocks that make up the Dow industrials. JPMorgan rose $1.86, or 4.1 percent, to $47.73. Intel climbed 75 cents, or 3.3 percent, to $23.52.

CSX, the nation's third largest railroad, rose $2.18, or 4.1 percent, to $55.46 after reporting a 20 percent increase in its first-quarter earnings. The company said it has seen "gradual and steady growth" in the economy. It has also started hiring.

"That was the real positive surprise. You hadn't really heard about big companies hiring," said Peter Tuz, president of Chase Investment Council in Charlottesville, Va.

Tuz said the strength of the earnings signals that stocks could be properly valued and perhaps even cheap.

The government offered investors more signs the economy is improving. Retail sales rose 1.6 percent in March, the third consecutive month of growth. That was bigger than the increase of 1.2 percent economists had expected, according to Thomson Reuters.

The Consumer Price Index, a measure of inflation at the retail level, rose 0.1 percent in March. That was in line with economists' forecast.

The Fed has said that inflation isn't a problem. Without an immediate threat of rising prices, policymakers have been able to hold the Fed's key interest rate at a record low of essentially zero. The Fed wants to keep rates low to stimulate lending and help revive the economy.

Health care, consumer staples and utilities stocks lagged after traders grew more confident about the economy. These industries are seen as safe in weak economies but fall out of favor when business growth is expected to increase.

About three stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume rose to 5.7 billion shares compared with 5.4 billion Tuesday.

The Russell 2000 index of smaller companies rose 15.37, or 2.2 percent, to 722.40.

Britain's FTSE 100 gained 0.6 percent, Germany's DAX index rose 0.8 percent, and France's CAC-40 rose 0.6 percent. Japan's Nikkei stock average rose 0.4 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The stock market stretched its streak of gains to six even though interest among buyers cooled amid a mixed batch of headlines. 

Better-than-expected earnings and an upside forecast from UPS (UPS 68.89, +3.44) after the prior session's close seemed to set the stage for continued gains in the early going. The report propelled UPS to its best single-session percentage gain in more than one year and pushed the Dow Jones Transportation Index up 1.7% to a new 52-week high. CSX (CSX 55.25, -0.21) lagged even though analysts at Deutsche Bank raised their target on the rail carrier. 

The broader market had a hard time trading in a clear direction as bounces fleeted and retreats ran into technical support. Still, the stock market was able to eke out another gain, which made for the best streak of gains by the S&P 500 in one month. 

An encouraging earnings forecast from UPS and stronger manufacturing figures gave the stock market its sixth straight advance.

The gains Thursday were modest following a surprise increase in the number of newly laid off people seeking unemployment benefits.

Analysts said a slowdown in the market's upward push was overdue. The Dow Jones industrial average rose 21 points after racing up nearly 104 on Wednesday. The Dow closed above 11,000 Monday for the first time in a year and a half. Other major stock indexes also stand at their highest levels since 2008.

*The NYSE DOW closed HIGHER +21.46 points +0.19% on Thursday April 15*
Sym. Last......... ........Change.......... 
Dow 11,144.57 +21.46 +0.19% 
Nasdaq 2,515.69 +10.83 +0.43% 
S&P 500 1,211.67 +1.02 +0.08% 
30-yr Bond 4.7280% +0.0600 

NYSE Volume 6,535,831,500  (prior day 6,350,777,000)
Nasdaq Volume 2,765,684,750  (prior day 3,048,264,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,825.01 +28.76 +0.50% 
DAX 6,291.45 +13.05 +0.21% 
CAC 40 4,065.65 +7.95 +0.20% 

*Asia *
Symbol...... Last...... .....Change.......
Nikkei 225 11,273.79 +68.89 +0.61% 
Hang Seng 22,157.82 +36.39 +0.16% 
Straits Times 3,016.94 -2.80 -0.09% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks edge higher on mixed reports, UPS outlook

Stocks post sixth straight advance; UPS boosts earnings forecast, Weekly jobless claims rise *

Tim Paradis, AP Business Writers, On Thursday April 15, 2010, 6:01 pm 

NEW YORK (AP) -- An encouraging earnings forecast from UPS and stronger manufacturing figures gave the stock market its sixth straight advance.

The gains Thursday were modest following a surprise increase in the number of newly laid off people seeking unemployment benefits.

Analysts said a slowdown in the market's upward push was overdue. The Dow Jones industrial average rose 21 points after racing up nearly 104 on Wednesday. The Dow closed above 11,000 Monday for the first time in a year and a half. Other major stock indexes also stand at their highest levels since 2008.

The technology-dominated Nasdaq composite index posted the biggest rise of major indexes ahead of earnings from Google Inc. The Internet search company reported after the closing bell that its first-quarter profit rose 37 percent but the stock fell 5 percent in electronic trading on concerns the company wasn't holding down costs.

Nasdaq 100 index futures slipped 0.2 percent following Google's report.

The forecast from UPS Inc. raised hopes that the economy is strengthening. The company raised its full-year earnings target because of stronger international deliveries. As the world's largest shipping company, UPS's results are seen as an early indicator of overall business activity. UPS shares rose 5.3 percent.

The UPS numbers and improved manufacturing reports from the Federal Reserve helped to offset some of the concern about the jobs figures.

The Labor Department reported that initial claims for unemployment benefits rose unexpectedly for a second straight week. First-time claims for jobless benefits rose by 24,000 to 484,000 last week, the highest level since late February. Economists polled by Thomson Reuters forecast a drop. The Easter holiday could have skewed the numbers, analysts said.

The stock market has been churning steadily higher after major indexes hit 12-year lows in March last year. Growing expectations for a recovery have been driving the climb. The increases in the past two months have been more subdued.

Charlie Smith, chief investment officer at Fort Pitt Capital in Pittsburgh, said the market's more consistent advance since February is welcome because it means investors aren't getting overly optimistic.

"We are seeing a straight line (higher) but there's not a whole lot of exuberance to it," he said. "There is a tremendous amount of skepticism about the market and that's a good thing."

The Dow rose 21.46, or 0.2 percent, to 11,144.57, its highest close since Sept. 19, 2008. The Dow has risen three out of every four days in the past two months but it hasn't gone up six straight days since mid-March.

The S&P 500 rose 1.02, or 0.1 percent, to 1,211.67, while the Nasdaq rose 10.83, or 0.4 percent, to 2,515.69.

Falling stocks narrowly outnumbered those that rose on the New York Stock Exchange, where consolidated volume dropped to 6 billion shares from 5.7 billion Wednesday.

Bond prices rose, pushing their yields lower. The yield on the benchmark 10-year Treasury note fell to 3.84 percent from 3.87 percent late Wednesday.

The dollar and gold both rose.

Crude oil fell 33 cents to $85.51 per barrel on the New York Mercantile Exchange.

David Chalupnik, head of equities at First American Funds in Minneapolis, said investors continue to put money in stocks of companies that are poised to benefit from a sharp rebound in the economy, like technology and industrial businesses. Defensive stocks like health care providers and phone companies are lagging.

He said the companies most tied to the winds of the economy cut costs the most during the recession and can snap back the most.

"As you go through earnings season here, it's going to be these companies that are going to put up the biggest surprises," he said.

The Federal Reserve said industrial production rose 0.1 percent in March. The increase was less than most economists had forecast but the report still indicated growth at the nations' factories, mines and utilities for the ninth straight month.

The New York Federal Reserve's Empire State Manufacturing Survey rose more than expected for April. A similar snapshot of regional manufacturing from the Philadelphia Federal Reserve also signaled that conditions are improving.

Among stocks in the news, UPS rose $3.44, or 5.3 percent, to $68.89.

Citigroup fell 12 cents, or 2.4 percent, to $4.81 after trading as high as $5.07. It hadn't topped the psychological barrier of $5 since October.

Yum Brands Inc., the parent of the Pizza Hut, Taco Bell and KFC restaurant chains, rose to a new high after the company's first-quarter earnings topped expectations. Yum shares closed up $1.10, or 2.6 percent, to $42.78. The stock rose as high as $43.76 following its report after regular trading hours Wednesday.

Google Inc. rose $6.30, or 1.1 percent, to $595.30. In after-hours trading the stock fell $29.06, or 4.9 percent, to $566.24.

The Russell 2000 index of smaller companies rose 1.81, or 0.3 percent, to 724.21.

Britain's FTSE 100 rose 0.5 percent, while Germany's DAX index and France's CAC-40 each rose 0.2 percent. Japan's Nikkei stock average gained 0.6 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The stock market's six-session streak of gains ended in dramatic fashion as the S&P 500 suffered its worst percentage loss in two months following news that the Securities Exchange Commission (SEC) has levied a charge against Goldman Sachs. 

Stocks fall sharply after regulators file civil fraud charges against Goldman Sachs 

Financial shares led the stock market sharply lower Friday after federal regulators filed civil fraud charges against Goldman Sachs over its dealings in subprime mortgages.

The Dow Jones industrial average lost about 125 points, having been down as much as 170. At times, it fell below 11,000 after closing above that level Monday for the first time in more than a year and a half.

Analysts say the market was poised to fall after a steady run of gains the past two months, and the Goldman Sachs news gave investors a reason to sell and take some profits.

*The NYSE DOW closed LOWER -125.91 points -1.13% on Friday April 16*
Sym. Last......... ........Change.......... 
Dow 11,018.66 -125.91 -1.13% 
Nasdaq 2,481.26 -34.43 -1.37% 
S&P 500 1,192.13 -19.54 -1.61% 
30-yr Bond 4.6710% -0.5700 

NYSE Volume 9,138,203,000  (prior day 6,535,831,500)
Nasdaq Volume 2,882,507,500  (prior day 2,765,684,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,743.96 -81.05 -1.39% 
DAX 6,180.90 -110.55 -1.76% 
CAC 40 3,986.63 -79.02 -1.94% 

*Asia *
Symbol...... Last...... .....Change.......
Nikkei 225 11,102.18 -171.61 -1.52% 
Hang Seng 21,865.26 -292.56 -1.32% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks tumble as Goldman charged with civil fraud

Stocks fall sharply after regulators file civil fraud charges against Goldman Sachs *

Stephen Bernard, AP Business Writer, On Friday April 16, 2010, 5:17 pm 

NEW YORK (AP) -- Financial shares led the stock market sharply lower Friday after federal regulators filed civil fraud charges against Goldman Sachs over its dealings in subprime mortgages.

The Dow Jones industrial average lost about 125 points, having been down as much as 170. At times, it fell below 11,000 after closing above that level Monday for the first time in more than a year and a half.

Analysts say the market was poised to fall after a steady run of gains the past two months, and the Goldman Sachs news gave investors a reason to sell and take some profits.

"Basically it's sell, and ask questions later," said Quincy Krosby, market strategist at Prudential Financial. "A market that wants to sell off will find an excuse."

Stocks were already lower before news of the Securities and Exchange Commission's charges against the leading investment bank. Investors were disappointed after Google reported earnings that didn't live up to forecasts.

General Electric Co. and Bank of America Corp. also reported profits that topped forecasts, but their stocks still fell. GE's revenue came up short of expectations, while Bank of America said loan losses remain high.

The SEC charged Goldman and one of its vice presidents with failing to disclose key information to investors regarding complex mortgage-backed securities. The company's stock fell $23.57, or 12.8 percent, to $160.70 in heavy trading, and the rest of the market followed.

"It's all a knee-jerk reaction to Goldman," said Steven Goldman, chief market strategist at Weeden & Co., referring to the market's drop. He said the fundamentals of the market, the upbeat economic signs that have powered its rally, have not changed.

The charges come as the Obama administration seeks greater regulation of the nation's banks and their trading of exotic securities like those involved in the Goldman case. These kinds of investments are widely seen as one of the triggers of the financial crisis that crippled the nation's financial system in the fall of 2008.

"Road blocks for financial regulation have taken a hit today," said Thomas Villalta, co-portfolio manager of the Jones Villalta Opportunity Fund.

Analysts say other banks that also traded these types of securities will be closely scrutinized. That means the financial industry could continue to struggle because of uncertainty about reform and other potential investigations.

Friday's drop comes after six straight days of gains that pushed the Dow to its highest close in more than 18 months. Stocks have been steadily rising in recent months on growing signs that the economy is recovering, albeit slowly.

The Dow fell 125.91, or 1.1 percent, to 11,018.66. The Standard & Poor's 500 index dropped 19.54, or 1.6 percent, to 1,192.13, while the Nasdaq composite index fell 34.43, or 1.4 percent, to 2,481.26.

About five stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.8 billion shares, compared with 1.2 billion Thursday.

Investors looked past economic news. The Commerce Department said housing construction rose to a 16-month high in March. However, construction of single-family homes, the most important segment of the market, fell. Economists are also concerned about continued hurdles in the housing market, like rising mortgage rates and the end this month of a homebuyer tax credit. A separate report showed consumer sentiment fell this month.

With stocks reeling, investors sought safety in Treasury bonds. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.77 percent from 3.84 percent late Thursday.

The dollar mostly rose against other major currencies. Gold fell.

Crude oil fell $2.27 to settle at $83.24 a barrel on the New York Mercantile Exchange.

The Chicago Board Options Exchange's Volatility Index, which measures how much disruption investors expect in the market, spiked 15 percent to its highest level in a month after the Goldman news came out.

Results from Bank of America and General Electric both topped expectations, as other earnings reports have done this week. Stocks jumped Wednesday after encouraging forecasts from JPMorgan Chase & Co. and Intel Corp.

GE said losses are beginning to moderate in its battered lending division, GE Capital. But its revenue did fall short or expectations, which has been hurting the stock.

Bank of America said strong trading revenue helped offset ongoing consumer loan losses. However, it did note those loan losses -- which have cost banks hundreds of billions of dollars -- are starting to ease.

Bank of America fell $1.07, or 5.5 percent, to $18.41

GE fell 53 cents, or 2.7 percent, to $18.97. Google fell $45.15, or 7.6 percent, to $550.15 after investors grew concerned that Google was seeing expenses rise too quickly.

The Commerce Department said construction rose 1.6 percent to a seasonally adjusted annual rate of 626,000 last month. Economists polled by Thomson Reuters had forecast construction would rise to 610,000 units.

Applications for building permits, considered a good gauge of future activity, rose to an annual rate of 685,000. Economists were expecting applications to rise to 630,000.

Also, a Reuters/University of Michigan consumer sentiment reading fell unexpectedly.

The Russell 2000 index of smaller companies fell 9.59, or 1.3 percent, to 714.62.

Overseas, Britain's FTSE 100 fell 1.4 percent, Germany's DAX index dropped 1.8 percent, and France's CAC-40 fell 1.9 percent. Japan's Nikkei stock average fell 1.5 percent.

7680


----------



## bigdog

Source: http://finance.yahoo.com

Financial stocks were whipsawed to a strong gain that helped the broader market recover from a modest loss to make a strong finish. 

Early gains were quickly challenged as participants reapplied pressure to financial shares. That sent the financial sector from a gain of more than 1% down to a loss of nearly 1% at its session low. However, the sector was able to stage a rebound amid news that an SEC decision to press on with charges of fraud against Goldman Sachs (GS 163.32, +2.62) was only secured with a 3-to-2 vote, which suggested that the case might not be so strong. Shares of GS finished near their session high, while the broader financial sector settled with a 1.1% gain.

Stocks finish mixed after financials recover from concerns about Goldman; Dow rises 73 points

Investors snapped up financial stocks Monday after concerns eased about the government's case against Goldman Sachs.

The Dow Jones industrial average ended with a gain of 73 points after sliding for much of the day. The advance followed a drop of 126 points Friday after the Securities and Exchange Commission filed civil fraud charges against Goldman Sachs related to mortgage investments.

The Standard & Poor's index also rose, while the Nasdaq composite index fell.

*The NYSE DOW closed HIGHER +73.39 points 0.67% on Monday April 19*
Sym. Last......... ........Change.......... 
Dow 11,092.05 +73.39 +0.67% 
Nasdaq 2,480.11 -1.15 -0.05% 
S&P 500 1,197.52 +5.39 +0.45% 
30-yr Bond 4.7000% +0.2900 

NYSE Volume 7,337,044,000  (prior day 9,138,203,000)
Nasdaq Volume 2,158,517,750  (prior day 2,882,507,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,727.91 -16.05 -0.28% 
DAX 6,162.44 -18.46 -0.30% 
CAC 40 3,970.47 -16.16 -0.41% 

*Asia *
Symbol...... Last...... .....Change.......
Nikkei 225 10,908.77 -193.41 -1.74% 
Hang Seng 21,405.17 -460.09 -2.10% 
Straits Times 2,960.93 -46.26 -1.54% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks end mixed after financial stocks rebound

Stocks finish mixed after financials recover from concerns about Goldman; Dow rises 73 points *

Tim Paradis, AP Business Writer, On Monday April 19, 2010, 5:38 pm EDT 
NEW YORK (AP) -- Investors snapped up financial stocks Monday after concerns eased about the government's case against Goldman Sachs.

The Dow Jones industrial average ended with a gain of 73 points after sliding for much of the day. The advance followed a drop of 126 points Friday after the Securities and Exchange Commission filed civil fraud charges against Goldman Sachs related to mortgage investments.

The Standard & Poor's index also rose, while the Nasdaq composite index fell.

Analysts said reports that the SEC voted 3-2 along party lines to press its case against Goldman Sachs eased some of investors' worries. Investors seemed placated by the fact the vote wasn't unanimous. A rebound in Goldman helped lift financial shares.

Investors have been concerned about potential repercussions tied to the charges against Goldman. The SEC said the company didn't inform clients about conflicts of interest in mortgage investments it sold. Goldman has said it would fight the charges. The suit comes just as Congress is taking up a bill to overhaul regulation of the financial industry.

"Is financial reform going to be a big setback for financial company earnings?" said Colleen Supran, a portfolio manager at Bingham, Osborn & Scarborough in San Francisco. "And what is that going to mean for overall earnings for, say, the S&P, which is what we really care about."

Meanwhile, airline stocks fell after most European airports remained closed for a fifth day following the spread of ash from a volcano in Iceland. Analysts estimated that airline losses topped $1 billion. American Airlines parent AMR Corp. fell 4.3 percent, while United parent UAL Corp. lost 5.1 percent.

The technology-dominated Nasdaq composite index lagged ahead of a report from International Business Machines Corp. The company said after the closing bell that its first-quarter profit rose in part because of higher revenue. The stock slipped in electronic trading.

The market drew some support from a steep increase in the Conference Board's index of leading economic indicators. The report signals that economic activity will strengthen in the next three to six months. The Conference Board's leading indicators index rose to 1.4 percent for March. Economists had predicted growth of 0.9 percent.

"It's just giving you more indication that the road to recovery is not as tenuous as you might have thought," said Brett Hryb, portfolio manager with MFC Global Investment Management in Toronto, referring to the leading indicators report.

The stock market has been generally rising for about 13 months on expectations that the economy would begin improving, and over the past two months they have been on a nearly unbroken climb. Analysts said the bounce off the lows Monday signaled that there are enough buyers around to help the market to continue its advance.

The Dow rose 73.39, or 0.7 percent, to 11,092.05. The Standard & Poor's 500 index rose 5.39, or 0.5 percent, to 1,197.52, while the Nasdaq composite index slipped 1.15, or 0.1 percent, to 2,480.11.

Falling stocks narrowly outnumbered those that rose on the New York Stock Exchange, where consolidated volume came to 6.6 billion shares compared with 8.1 billion Friday.

Bond prices slipped, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.80 percent from 3.77 percent compared with late Friday.

The dollar rose against other major currencies. Gold fell.

Crude oil fell $1.79 to $81.45 per barrel on the New York Mercantile Exchange.

Stocks dropped Friday after the SEC announced the charges against Goldman. The Dow ended with a loss of 125 points but was down as much as 170 points during trading. It closed above 11,000 last week for the first time in 18 months.

Goldman shares rose after falling for much of trading. The stock climbed $2.62, or 1.6 percent, to $163.32 after tumbling 12.8 percent Friday.

Citigroup rose 32 cents, or 7 percent, to $4.88 after the bank said its first-quarter profit improved because of strong investment banking operations. Citi also said its losses from failed loans fell slightly from the previous quarter, but executives remain cautious about a recovery. The bank was among the hardest hit by the credit crisis. Bank of America Corp. and JPMorgan Chase & Co. last week also posted big improvements in profits.

IBM rose $1.60, or 1.2 percent, to $132.23 in regular trading. The stock fell $2.90, or 2.2 percent, to $129.33 in after-hours trading.

Apple Inc., Coca-Cola Co., Delta Air Lines Inc. and Goldman Sachs are slated to report earnings on Tuesday.

UAL fell $1.17, or 5.1 percent, to $21.66, while AMR fell 38 cents, or 4.3 percent, to $8.41.

The Russell 2000 index of smaller companies fell 3.22, or 0.5 percent, to 711.40.

Britain's FTSE 100 fell 0.3 percent, Germany's DAX index fell 0.3 percent, and France's CAC-40 fell 0.4 percent. Japan's Nikkei stock average lost 1.7 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Blue chips managed modest gains amid a bevy of better-than-expected earnings, but the results acted as a positive catalyst for the broader market, which settled with a strong gain. 

The S&P 500 extended its rebound from the prior session so that it is now less than 1% below the 52-week high that it tumbled from late last week. Its strength in the latest session was broad based with all 10 major sectors booking gains. 

Broader market strength coupled with a 0.9% increase in crude oil prices to $83.91 per barrel to take energy stocks to a 1.9% gain. That was the best of the major indices. 

Stock market resumes steady advance following earnings reports, rebound in energy prices 

Stocks resumed their advance after investors got the numbers they wanted from first-quarter earnings reports.

The Dow Jones industrial average rose 25 points Tuesday for its eighth gain in nine days. Broader indexes posted bigger percentage increases after a mixed finish Monday.

Investors set aside some concerns about the government's civil fraud case against Goldman Sachs Group Inc. and looked to profit numbers. Beyond those reports, a bounce in the price of crude oil after a two-week slide helped energy stocks.

*The NYSE DOW closed HIGHER +25.01points +0.23%  on Tuesday April 20*
Sym. Last......... ........Change.......... 
Dow 11,117.06 +25.01 +0.23% 
Nasdaq 2,500.31 +20.20 +0.81% 
S&P 500 1,207.17 +9.65 +0.81% 
30-yr Bond 4.68% -0.22 

NYSE Volume 5,864,413,000  (prior day 7,337,044,000)
Nasdaq Volume 2,105,129,750  (prior day 2,158,517,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,783.69 +55.78 +0.97% 
DAX 6,264.23 +101.79 +1.65% 
CAC 40 4,026.65 +56.18 +1.41% 

*Asia *
Symbol...... Last...... .....Change.......
Nikkei 225 10,900.68 -8.09 -0.07% 
Hang Seng 21,623.38 +218.21 +1.02% 
Straits Times 2,981.37 +20.44 +0.69% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks advance on higher earnings, energy prices

Stock market resumes steady advance following earnings reports, rebound in energy prices *

Tim Paradis, AP Business Writer, On Tuesday April 20, 2010, 5:23 pm 

NEW YORK (AP) -- Stocks resumed their advance after investors got the numbers they wanted from first-quarter earnings reports.

The Dow Jones industrial average rose 25 points Tuesday for its eighth gain in nine days. Broader indexes posted bigger percentage increases after a mixed finish Monday.

Investors set aside some concerns about the government's civil fraud case against Goldman Sachs Group Inc. and looked to profit numbers. Beyond those reports, a bounce in the price of crude oil after a two-week slide helped energy stocks.

Harley-Davidson Inc., industrial equipment maker Illinois Tool Works Inc., and regional bank Marshall & Ilsley Corp. rose after reporting earnings.

Goldman Sachs said its first-quarter profit nearly doubled on higher trading revenue. However, the stock fell on concerns about the company's legal troubles.

After the closing bell, Apple Inc. said its first-quarter profit jumped 90 percent after it sold more iPhones and Macintosh computers. The stock rose 6 percent in electronic trading after ending the regular session lower.

James Meyer, chief investment officer at Tower Bridge Advisors in Conshohocken, Pa., said stocks aren't as likely to leap higher as they were even days ago because expectations have risen.

"We all know now that the economy is recovering at a rate that is faster than we thought two or three weeks ago and the market has adjusted," Meyer said. He said that could bring more volatility in the coming weeks when investors start looking for something else to move the market.

Stocks have rocketed higher since major stock indexes hit 12-year lows more than 13 months ago. Tuesday's advance extended a streak of steady gains seen in the past two months. Improving economic and earnings reports have given investors more confidence that the economy will mount a sustained recovery.

The Dow rose 25.01, or 0.2 percent, to 11,117.06. The Standard & Poor's 500 index rose 9.65, or 0.8 percent, to 1,207.17. The Nasdaq composite index advanced 20.20, or 0.8 percent, to 2,500.31.

Four stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.1 billion shares, compared with 1.3 billion Monday.

The Dow rose 73 points Monday after being lower throughout much of the day on concerns about the fallout from the charges against Goldman. The index climbed 100 points during the last two hours of trading.

Bill Stone, chief investment strategist at PNC Wealth Management in Philadelphia, said the market climbed with little break ahead of the earnings reports so a slowdown isn't unexpected.

"We got paid ahead for this earnings period," Stone said.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note was unchanged at 3.80 percent from late Monday.

The dollar and gold rose.

Crude oil for May delivery rose $2 to $83.45 per barrel on the New York Mercantile Exchange. Oil has fallen in eight of the past nine trading days since reaching $87 per barrel. Disruptions to air travel from the volcanic eruption in Iceland is hurting demand for jet fuel.

Analysts said that the rise in stocks was a sign that the market's slow grind higher is continuing after a slide last week. The market fell Friday after the Securities and Exchange Commission said Goldman Sachs failed to tell clients about conflicts of interest in mortgage investments it sold. Goldman has denied wrongdoing and vowed to fight the charges.

Doug Roberts, chief investment strategist at Channel Capital Research in Shrewsbury, N.J., said the market is able to resume its climb in part because the government has flooded the financial system with so much cash that some of it ends up in stocks.

Goldman Sachs fell $3.34, or 2.1 percent, to $159.98.

Illinois Tool rose $1.90, or 3.9 percent, to $50.71, while Marshall & Ilsley rose 90 cents, or 10.7 percent, to $9.31. Harley-Davidson advanced $2.40, or 7.3 percent, to $35.17.

Apple said it sold nearly 9 million of its popular iPhone smart phones for the three months that ended March 27, more than double a year earlier. Its revenue and earnings far outstripped most analysts' expectations.

Shares of Apple rose $14.73, or 6 percent, to $259.98 in after-hours trading after falling $2.48, or 1 percent, to $244.59 in regular trading.

Exxon Mobil rose 74 cents, or 1.1 percent, to $68.97. Schlumberger Ltd., which provides services to oil companies, rose $2.61, or 4 percent, to $67.85. Chevron rose 73 cents, or 0.9 percent, to $82.05.

The Russell 2000 index of smaller companies rose 10.15, or 1.4 percent, to 721.55.

Britain's FTSE 100 rose 1 percent, Germany's DAX index rose 1.7 percent, and France's CAC-40 gained 1.4 percent. Japan's Nikkei stock average fell 0.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Action was generally lackluster in the broader market this session, but there were a few pockets of strength as participants digested the latest round of earnings results. 

Choppy trade took the S&P 500 from a modest gain in the early going down below the psychologically significant 1200 line, but the broad market measure was able to recover into the close to settle with a slight loss. 

Most stocks edge higher, but boost from Apple results ebbs; Traders no longer wowed by results 

The stock market stalled Wednesday after the glow of strong results at Apple Inc. and a few other companies faded.

The Dow Jones industrial average rose about 8 points, while broader indexes were mixed.

Technology and industrial shares drew buyers after Apple Inc. and Boeing Co. delivered results that topped expectations. Health care stocks lagged on concerns that new health care laws will hurt the industry's profits. Financial stocks also fell after traders speculated on the fallout from a potential overhaul of government regulations.

*The NYSE DOW closed HIGHER +7.86 points +0.07% on Wednesday April 21*
Sym. Last......... ........Change.......... 
Dow 11,124.92 +7.86 +0.07% 
Nasdaq 2,504.61 +4.30 +0.17% 
S&P 500 1,205.93 -1.24 -0.10% 
30-yr Bond 4.6090% -0.6900 

NYSE Volume 6,321,168,500  (prior day 5,864,413,000)
Nasdaq Volume 2,644,937,250  (prior day 2,105,129,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,723.43 -60.26 -1.04% 
DAX 6,230.38 -33.85 -0.54% 
CAC 40 3,977.67 -48.98 -1.22% 

*Asia *
Symbol...... Last...... .....Change.......
Nikkei 225 11,090.05 +189.37 +1.74% 
Hang Seng 21,510.93 -112.45 -0.52% 
Straits Times 2,971.04 -10.33 -0.35% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=7&asset=&ccode=

*Stocks muddled as glow from Apple results fades

Most stocks edge higher, but boost from Apple results ebbs; Traders no longer wowed by results *

Tim Paradis, AP Business Writer, On Wednesday April 21, 2010, 6:00 pm EDT 

NEW YORK (AP) -- The stock market stalled Wednesday after the glow of strong results at Apple Inc. and a few other companies faded.

The Dow Jones industrial average rose about 8 points, while broader indexes were mixed.

Technology and industrial shares drew buyers after Apple Inc. and Boeing Co. delivered results that topped expectations. Health care stocks lagged on concerns that new health care laws will hurt the industry's profits. Financial stocks also fell after traders speculated on the fallout from a potential overhaul of government regulations.

The good news on earnings wasn't enough to give the market much of a lift. Analysts caution that investors are starting to become accustomed to better earnings so even stellar numbers might not inject energy into stocks.

"This market is overbought and it really does need a little bit of a pullback. We're priced for perfection," said Burt White, chief investment officer for LPL Financial in Boston.

Some selling could come Thursday after a profit forecast from eBay Inc. disappointed investors after the closing bell. Shares of the online auction company fell 8 percent in after-hours electronic trading. Futures contracts for technology-dominated Nasdaq 100 index fell 0.3 percent after eBay's report.

Apple's earnings blew past analysts forecasts thanks to strong sales of iPhones, sending its stock up 6 percent. Apple was the latest in a string of technology companies to report improving profits as the economy recovers.

Industrial stocks rose after Boeing's first-quarter profit was stronger than expected and the aircraft maker said it plans to deliver its 787 by the end of the year. The stock rose 4 percent. United Technologies Corp.'s profit jumped and the parent of Otis elevators and Sikorsky Aircraft raised the lower end of its profit forecast. United Technologies climbed about 4 percent. Boeing and United Technologies are both among the 30 stocks that make up the Dow industrials.

Economic concerns eclipsed some of investors' enthusiasm over the improved earnings.

Traders grew cautious after Greece's borrowing costs jumped to record highs. Government officials in the debt-strapped country have begun discussions about the terms of a bailout plan from other eurozone countries and the International Monetary Fund. There is concerns that debt problems in Greece could spill over to other countries and jeopardize a recovery.

Investors also looked to Washington for insights into a proposed overhaul of the nation's financial regulations. There is concern among traders that the wrong mix of rule tightening could hamper profits at large financial companies. President Barack Obama plans to speak in New York City on Thursday to push for new restrictions.

The stock market has been rising for 13 months since major stock indexes hit 12-year lows. For more than two months there have been few interruptions in the advance. Many analysts say some break is needed to keep stocks from getting overheated.

The Dow rose 7.86, or 0.1 percent, to 11,124.92, its third straight advance. The Dow has risen nine of the past 10 days.

The broader Standard & Poor's 500 index slipped 1.23, or 0.1 percent, to 1,205.94. The Nasdaq composite index rose 4.30, or 0.2 percent, to 2,504.61.

About three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to 5.7 billion shares, compared with 5.3 billion Tuesday.

White said a recent increase in trading volume is a sign that investors who think the market has run too far are starting to make moves after months of not being able to fight the market's climb. The higher volume could signal a shift is looming.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.74 percent from 3.80 percent late Tuesday.

Howard Ward, chief investment officer of the GAMCO Growth Fund, said the money companies are now making again will boost the economy.

"You don't get the new jobs without the profits," Ward said. "Strong profits suggest that the employment news in the months ahead is going to be better than we've expected."

The dollar was mixed against other major currencies, while gold rose.

Crude oil 17 cents to settle at $83.68 per barrel on the New York Mercantile Exchange.

Apple rose $14.63, or 6 percent, to $259.22. The stock topped its previous record of $251.14 set Friday.

Boeing rose $2.75, or 3.9 percent, to $74.16, while United Technologies rose $2.73, or 3.7 percent, to $76.93.

Gilead Sciences Inc. slid $4.31, or 9.6 percent, to $40.76 after the drug developer late Tuesday lowered its full-year revenue forecast citing the new health care laws.

Wells Fargo & Co. fell 68 cents, or 2 percent, to $33.01 after its earnings slipped on soured consumer loans.

EBay fell $2.10, or 8 percent, to $24.17 following its forecast. The company said that its first-quarter earnings rose 11 percent after consumers stepped up spending. The stock slipped 11 cents to $26.29 in regular trading.

The Russell 2000 index of smaller companies rose 4.64, or 0.6 percent, to 726.19.

Britain's FTSE 100 fell 1 percent, Germany's DAX index fell 0.5 percent, and France's CAC-40 dropped 1.2 percent. Japan's Nikkei stock average rose 1.7 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The stock market dropped more than 1% as participants shrugged off another batch of better-than-expected earnings amid renewed concerns about the fiscal health of Greece, but technical support helped set the stage for an afternoon rally that took stocks to a modest gain.

Stocks recover after Obama speech on financial reform; upbeat home sales report lifts builders.

The stock market recovered from early losses and closed modestly higher Thursday after President Barack Obama's speech on financial reform contained no unpleasant surprises.

The Dow Jones industrial average rose about 9 points after being down about 108. Broader indexes also turned higher.

The market fell sharply early in the day as Greece's debt problems worsened and on fears that Obama would advocate tough restrictions on banks. When he didn't, stocks recovered.

*The NYSE DOW closed HIGHER +9.37 points +0.08% on Thursday April 22*
Sym. Last......... ........Change.......... 
Dow 11,134.29 +9.37 +0.08% 
Nasdaq 2,519.07 +14.46 +0.58% 
S&P 500 1,208.67 +2.74 +0.23% 
30-yr Bond 4.6360% +0.2700 

NYSE Volume 6,682,983,500  (prior day 6,321,168,500)
Nasdaq Volume 2,728,098,000  (prior day 2,644,937,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,665.33 -58.10 -1.02% 
DAX 6,168.72 -61.66 -0.99% 
CAC 40 3,924.65 -53.02 -1.33% 

*Asia *
Symbol...... Last...... .....Change.......
Nikkei 225 10,949.09 -140.96 -1.27% 
Hang Seng 21,454.94 -55.99 -0.26% 
Straits Times 2,980.69 +13.04 +0.44% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks recover after Obama speech, home sales data

Stocks recover after Obama speech on financial reform; upbeat home sales report lifts builders *

Stephen Bernard and Tim Paradis, AP Business Writers, On Thursday April 22, 2010, 5:43 pm 

NEW YORK (AP) -- The stock market recovered from early losses and closed modestly higher Thursday after President Barack Obama's speech on financial reform contained no unpleasant surprises.

The Dow Jones industrial average rose about 9 points after being down about 108. Broader indexes also turned higher.

The market fell sharply early in the day as Greece's debt problems worsened and on fears that Obama would advocate tough restrictions on banks. When he didn't, stocks recovered.

Prices also got a boost from a jump in sales of existing homes last month.

In a speech in New York, Obama said the economy is recovering quickly but the progress needs to be felt more deeply among the millions of unemployed Americans. He has blamed Wall Street for helping push the country into recession. Obama gave a speech in support of his efforts to pass legislation that would overhaul financial markets.

The Senate could debate the financial overhaul bill next week. The House has already passed its own version.

Investors were rattled early in the day by news about Greece. The country's borrowing costs surged again when Europe's statistics agency found that Greece's budget deficit last year was even larger than previously thought. The findings pushed Greece closer to tapping loans from 15 European countries and the International Monetary Fund. Moody's Investor Services downgraded Greece's debt and said more downgrades could be coming.

"It rings the alarm bell at least in the very short-term," said Steven Goldman, chief market strategist at Weeden & Co., referring to the latest problems in Greece.

Greece's debt crisis has undermined confidence in Europe's shared currency, the euro, and raised the troubling possibility that other weak European economies such as Portugal may also need to be bailed out.

Investors sent homebuilder stocks higher after the National Association of Realtors said sales of existing homes rose 6.8 percent last month after falling 0.8 percent in February. Sales of previously occupied homes had been expected to rise 5.2 percent, according to Thomson Reuters.

Stocks have been climbing steadily over the past 13 months, and the gains in the past two months have come with very few breaks. Many analysts have been expecting a break in the market's ascent, which would be in keeping with historical patterns. As occurred Thursday, most recent drops have faded quickly as buyers step in.

The Dow rose 9.37, or 0.1 percent, to 11,134.29. The Standard & Poor's 500 index rose 2.73, or 0.2 percent, to 1,208.67, while the Nasdaq composite index rose 14.46, or 0.6 percent, to 2,519.07.

Bond prices fell, lifting yields. The yield on the benchmark 10-year Treasury note rose to 3.78 percent from 3.74 percent late Wednesday.

The dollar rose against other major currencies, while gold fell.

Crude oil rose 2 cents to $83.70 per barrel on the New York Mercantile Exchange.

The Labor Department reported that the number of people applying for unemployment benefits dipped to 456,000 last week, after rising unexpectedly the past couple of weeks. The drop was about in line with expectations.

Homebuilder Hovnanian Enterprises Inc. rose 25 cents, or 4 percent, to $6.57. KB Home rose $1.12, or 6.3 percent, to $18.87.

Stronger corporate earnings reports in the past two weeks have brought an important signal that the economy is recovering. But not all the numbers have been as strong as investors would like.

Shares of eBay Inc. fell $1.51, or 5.7 percent, to $24.78 after the online auction house's profit forecast fell short of what analysts had been expecting.

Profits at mobile phone maker Nokia Corp. missed analysts' forecasts. The stock fell $1.96, or 13.1 percent, to $12.99. Dow component Verizon Communications Inc. reported better-than-expected earnings but the stock fell after the company brought in fewer new customers than predicted. Verizon fell 28 cents, or 1 percent, to $29.28.

Two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 6 billion shares compared with 5.7 billion Wednesday.

The Russell 2000 index of smaller companies rose 8.12, or 1.1 percent, to 734.31.

Britain's FTSE 100 dropped 1 percent, Germany's DAX index fell 1 percent, and France's CAC-40 fell 1.3 percent. Japan's Nikkei stock average fell 1.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow closed on its highs for the year, and finished higher for its eighth consecutive week, closing on its 200-week moving average. U.S. equities initially took their cue from Europe as investors responded positively to Greece seeking aid from the IMF and European Union. 

Stocks climb on home sales; Dow posts 8th straight weekly gain for first time since 2004 

Investors expecting a pullback in stocks -- and there are plenty of them -- are going to have to wait. As of Friday the Dow Jones industrial average has entered its longest winning streak in more than six years.

Stocks climbed again Friday after a strong report on new home sales more than offset mixed news from corporate earnings reports. Investors were also keeping a cautious eye fixed on Greece's ongoing debt problems after the country decided to tap a bailout program.

The Dow Jones industrial average closed the day higher for the 11th time in the past 12 trading days. Friday's 70-point gain wrapped up the index's eighth straight weekly rise, which matches its longest string of gains since a two-month stretch that ended in January 2004.

*The NYSE DOW closed HIGHER +69.99 points +0.63% on Friday April 23*
Sym. Last......... ........Change.......... 
Dow 11,204.28 +69.99 +0.63% 
Nasdaq 2,530.15 +11.08 +0.44% 
S&P 500 1,217.28 +8.61 +0.71% 
30-yr Bond 4.6680% +0.3200 

NYSE Volume 5,888,237,000  (prior day 6,682,983,500)
Nasdaq Volume 2,434,851,250  (prior day 2,728,098,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,723.65 +58.32 +1.03% 
DAX 6,259.53 +90.81 +1.47% 
CAC 40 3,951.30 +26.65 +0.68% 

*Asia *
Symbol...... Last...... .....Change.......
Nikkei 225 10,914.46 -34.63 -0.32% 
Hang Seng 21,244.49 -210.45 -0.98% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Stocks rise again; Dow up for 8th straight week

Stocks climb on home sales; Dow posts 8th straight weekly gain for first time since 2004 *

Stephen Bernard, AP Business Writer, On Friday April 23, 2010, 5:23 pm 

NEW YORK (AP) -- Investors expecting a pullback in stocks -- and there are plenty of them -- are going to have to wait. As of Friday the Dow Jones industrial average has entered its longest winning streak in more than six years.

Stocks climbed again Friday after a strong report on new home sales more than offset mixed news from corporate earnings reports. Investors were also keeping a cautious eye fixed on Greece's ongoing debt problems after the country decided to tap a bailout program.

The Dow Jones industrial average closed the day higher for the 11th time in the past 12 trading days. Friday's 70-point gain wrapped up the index's eighth straight weekly rise, which matches its longest string of gains since a two-month stretch that ended in January 2004.

Analysts have been saying for weeks that the market could be primed for a pullback, yet it still hasn't materialized.

"It's been quite a run," said Stephen Carl, head of equity trading at The Williams Capital Group in New York. Carl said momentum could be slowing after stocks have been on a nearly unbroken path upward over the past two months.

The Dow is up 8.5 percent during its two-month climb. The pattern of slow, steady gains leads analysts to believe that investors are becoming less discerning in their stock picking, leaving the market vulnerable if sentiment shifts for the worse.

"The market is trying to sort out how overbought it is," said Nick Kalivas, vice president of financial research at MF Global in Chicago. "That's left us in a choppy state."

Volume has been low during the stretch, which analysts say is proof that investors are not fully confident that the gains are built on a solid foundations.

Despite that skepticism, stocks continued their recent pattern of slow but steady climbs upward Friday.

The Dow rose 69.99, or 0.6 percent, to 11,204.28 on Friday, closing near its high for the day. The Standard & Poor's 500 index rose 8.61, or 0.7 percent, to 1,217.28, while the Nasdaq composite index rose 11.08, or 0.4 percent, to 2,530.15.

The gains followed another report showing the economy is getting better. The Commerce Department said sales of new homes jumped 27 percent in March, bouncing off a record low in February. It was the best month since July and the biggest monthly increase in 47 years. However much of the recent big gains in home sales were likely fueled by customers who are trying to qualify for federal tax credits that will expire at the end of this month.

Friday was the second straight day the sector got good news. On Thursday, the National Association of Realtors said sales of existing homes also rose last month.

Joe Heider, principal at Rehmann in Cleveland, said the home sales report is a strong indication that consumers are growing more confident about the economy.

"We're seeing that people have the confidence to make the biggest purchase of their lives," Heider said. "And that bodes well for the markets."

Shares of homebuilders including PulteGroup Inc. and Lennar Corp. rose sharply as hopes grew that the troubled housing sector may finally be on the mend. Housing has been one of the hardest-hit sectors in the economy, helping to the economy into recession in late 2007.

Gold and oil rose after the housing report, pushing shares of energy and materials stocks higher throughout the day.

Before the housing report, major indexes were slightly lower following mixed earnings from two Dow components. There was also skepticism that the latest effort to resolve Greece's debt problems would work out in the long term.

Dow components Microsoft Corp. and Travelers Cos. both fell after their quarterly results failed to impress investors. Travelers fell 41 cents to $53.38. Microsoft's shares fell 43 cents to $30.96.

The technology-heavy Nasdaq was hurt by a disappointing earnings outlook from Amazon.com Inc. Its shares fell $6.46, or 4.3 percent, to $143.63.

Homebuilders were the big gainers on the day. Pulte shares rose 71 cents, or 5.7 percent, to $13.19. Lennar jumped 79 cents, or 4 percent, to $20.53.

Five stocks rose for every two that fell on the New York Stock Exchange. Volume came to 1.21 billion shares.

In Europe, stock indexes rose after Greek officials said they would tap a rescue package from the 15 other countries that use the euro and the International Monetary Fund. The move gives Greece better interest rates on its debt than it would be able to get from private investors.

Some remained skeptical, however, if the bailout would provide a long-term solution to Greece's debt woes. Investors also expect that other weak European countries such as Portugal may require help, further undermining confidence in the euro, Europe's shared currency.

The euro did rebound late in the day against the dollar after touching its lowest level in a year against the U.S. currency earlier Friday.

Bond prices fell as investors moved into stocks. The yield on the benchmark 10-year Treasury note rose to 3.82 percent from 3.78 percent late Thursday.

The Russell 2000 index of smaller companies rose 7.61, or 1 percent, to 741.92.

Overseas, Britain's FTSE 100 rose 1 percent, Germany's DAX index gained 1.5 percent, and France's CAC-40 rose 0.7 percent. Japan's Nikkei stock average fell 0.3 percent.

8079


----------



## bigdog

Source: http://finance.yahoo.com

Stocks chopped along in mixed fashion for the entire session. Though that made for rather lackluster action, it allowed recent gains to consolidate. 

Overall buying interest cooled among market participants this session. In turn, the major market averages lacked leadership and were confined to a relatively narrow trading range until a late slip led to a weak finish. 

The stock market closed narrowly mixed Monday after a strong earnings report from Caterpillar Inc. offset investors' concerns about financial regulation.

The Dow Jones industrial average, supported by Caterpillar, eked out a gain of 1 point. Broader market indexes fell modestly.

Banking shares fell as negotiations on financial overhaul legislation continued in Washington.

*The NYSE DOW closed HIGHER +0.75  points +0.01% on Monday April 26*
Sym. Last......... ........Change.......... 
Dow 11,205.03 +0.75 +0.01% 
Nasdaq 2,522.95 -7.20 -0.28% 
S&P 500 1,212.05 -5.23 -0.43% 
30-yr Bond 4.6730% +0.0500 

NYSE Volume 6,176,508,000  (prior day 5,888,237,000)
Nasdaq Volume 2,386,476,750  (prior day 2,434,851,250) 

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,753.85 +30.25 +0.53% 
DAX 6,332.10 +72.57 +1.16% 
CAC 40 3,997.39 +46.09 +1.17% 

*Asia* 
Symbol...... Last...... .....Change.......
Nikkei 22511,165.79 +251.33 +2.30% 
Hang Seng 21,587.06 +342.57 +1.61% 
Straits Times 3,002.62 +14.13 +0.47%

http://finance.yahoo.com/news/Stron...4.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Strong Caterpillar results, outlook lift stocks

Stocks narrowly mixed after Caterpillar posts higher results, sees hopeful economic signs *

Ieva M. Augstums, AP Business Writer, On Monday April 26, 2010, 5:44 pm EDT 

The stock market closed narrowly mixed Monday after a strong earnings report from Caterpillar Inc. offset investors' concerns about financial regulation.

The Dow Jones industrial average, supported by Caterpillar, eked out a gain of 1 point. Broader market indexes fell modestly.

Banking shares fell as negotiations on financial overhaul legislation continued in Washington.

Caterpillar, whose results are seen as an economic indicator, reported earnings that beat analyst expectations after a one-time charge related to health care. The company said economic conditions are "definitely improving" and that orders for its heavy equipment are significantly higher than last year.

Investors also got some good news from Whirlpool Corp., which said profits doubled on higher sales of appliances in the U.S. and other countries. That's a signal that consumer spending is picking up.

News that car rental company Hertz Global Holdings Inc. agreed to buy rival Dollar Thrifty Automotive Inc. also helped stocks.

But investors showed caution throughout the day. A series of upbeat earnings reports have sent stocks steadily higher over the past week, and many analysts believe that strong corporate earnings results are already priced into the market.

Peter Cardillo, chief market economist at the brokerage Avalon Partners Inc. in New York, said the market is "perhaps defying logic at this point, and nevertheless moving up."

"We will be headed for some sort of a pullback, which could happen at any time," Cardillo said, adding he doesn't think it will be too steep, maybe 5 percent to 7 percent. "For the moment, the enthusiasm continues."

The Dow rose 0.75, or less than 0.1 percent, to 11,205.03. The Standard & Poor's 500 index fell 5.23, or 0.4 percent, to 1,212.05, while the Nasdaq composite index fell 7.20, or 0.3 percent, to 2,522.95.

Losing shares narrowly outpaced advancers on the New York Stock Exchange, where volume came to 1.2 billion shares.

Caterpillar rose $2.87, or 4.2 percent, to close at $71.65.

This week will bring a stream of earnings news from companies across a range of industries, including Ford Motor Co., Exxon Mobil Corp. and UPS Inc. Consumer products companies including Procter & Gamble Co. are also scheduled to release their results.

Hertz, the world's largest car rental company, agreed to buy rival Dollar Thrifty for almost $1.2 billion in cash and stock.

Hertz closed up $1.81, or 14.1 percent, at $14.69, while Dollar Thrifty rose $4.22, or 10.9 percent, to $43.07. Investors view mergers and acquisition activity as a sign of investor confidence about the economy.

Investors also got some reassurance about Greece's debt problems. The Greek government on Friday said it wanted to tap a rescue package from 15 European countries and the International Monetary Fund. Investors have been concerned that Greece could default on its debt and that the trouble there would spread to other countries.

Financial shares slid as negotiations on financial overhaul legislation continued in Washington.

Senate Democrats reached a tentative deal on sweeping new rules for the derivatives market. Derivatives are the complex securities blamed for helping precipitate the 2008 financial crisis, but they also have earned big profits for banks.

"We are starting to see the financials crack, or get a little shaky," Hobart said, speaking about bank and other financial company stocks. "Going forward really for the next several months we are going to see a lot of choppiness and volatility in financials, simply because we don't know all the plans (the government) is putting together."

JPMorgan Chase & Co. lost $1.05, or 2.3 percent, to $43.89, while Bank of America Corp. shed 38 cents, or 2.1 percent, to $18.05.

Citigroup Inc.'s shares fell 5.1 percent after the Treasury said it plans to sell up to 1.5 billion shares of Citigroup stock, its latest move to unwind the support it provided big banks during the financial crisis. Citi shares fell 25 cents to $4.61.

Gold and the dollar both rose. Oil prices fell 92 cents to settle at $84.20 on the New York Mercantile Exchange.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note fell to 3.81 percent from 3.82 percent late Friday.

The Russell 2000 index of smaller companies fell 3.06, or 0.4 percent, to 738.86.

In European trading stocks are higher in reaction to Greece's request for rescue funds. The FTSE-100 in London rose 0.5 percent. The CAC 40 index in Paris rose 1.2 percent.

Stocks closed higher in Tokyo. The Nikkei 225 average rose 2.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow fell 213.04, or 1.9 percent, to 10,991.99. It was the biggest drop for the average since it fell 268.37 on Feb. 4, also amid concerns about European debt problems.

Investors are again worried that debt problems in Greece and Portugal could threaten the global economic recovery.

Stocks plunged in the U.S. and Europe Tuesday after Standard & Poor's downgraded the debt of the two European countries. The Dow Jones industrial average fell 213 points, its biggest loss in almost three months. All the major market indexes were down about 2 percent.

The ratings downgrades also sent the dollar up more than 1.1 percent against the euro, hitting its highest level in about a year. At the same time, gold and Treasury prices rose as investors sought safer investments. The three often do not trade in the same direction.

*The NYSE DOW closed LOWER -213.04 points -1.90% on Tuesday April 27*
Sym. Last......... ........Change.......... 
Dow 10,991.99 -213.04 -1.90% 
Nasdaq 2,471.47 -51.48 -2.04% 
S&P 500 1,183.71 -28.34 -2.34% 
30-yr Bond 4.5610% -1.1200 

NYSE Volume 8,354,417,500  (prior day 6,176,508,000)
Nasdaq Volume 2,766,876,250  (prior day 2,386,476,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,603.52 -150.33 -2.61% 
DAX 6,159.51 -172.59 -2.73% 
CAC 40 3,844.60 -152.79 -3.82% 

*Asia *
Symbol...... Last...... .....Change.......
Nikkei 225 11,212.66 +46.87 +0.42% 
Hang Seng 21,261.79 -325.27 -1.51% 
Straits Times 2,991.68 -10.94 -0.36% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Stocks pull back on Europe's deepening debt woes

US stocks follow European markets sharply lower as Portugal, Greece debt downgraded *

Stephen Bernard, AP Business Writer, On Tuesday April 27, 2010, 5:59 pm EDT 
NEW YORK (AP) -- Investors are again worried that debt problems in Greece and Portugal could threaten the global economic recovery.

Stocks plunged in the U.S. and Europe Tuesday after Standard & Poor's downgraded the debt of the two European countries. The Dow Jones industrial average fell 213 points, its biggest loss in almost three months. All the major market indexes were down about 2 percent.

The ratings downgrades also sent the dollar up more than 1.1 percent against the euro, hitting its highest level in about a year. At the same time, gold and Treasury prices rose as investors sought safer investments. The three often do not trade in the same direction.

"It was a knee-jerk reaction," said Brian Peardon, a wealth adviser at Harrison Financial Group in Citrus Heights, Calif. Peardon said the small size of Greece and Portugal's economies mean their debt struggles are not yet a major problem. But if they were to default on their debt, other countries that hold their bonds would also suffer.

Debt-strapped countries would also likely find it harder to spend more to stimulate their economies and help feed the global economic recovery.

Standard & Poor's downgraded Greece's debt to junk status and lowered Portugal's debt two notches to A-minus from A-plus. Greece has already admitted it can't pay debts coming due shortly and it has asked for a bailout from European neighbors and the International Monetary Fund. And there are growing concerns about Portugal's ability to handle its debts.

Investors have been on edge for months about Greece's fiscal crisis even as they've sent stocks higher on signs of an improving U.S. economy. They have also been worried that Portugal could be the next European country to need help. That has undermined confidence in the euro, and raised questions about whether some of the 16 nations that share the currency might abandon it.

"This is a major test case for the euro," said Quincy Krosby, a market strategist with Prudential Financial. The European Union "needs a viable template on how to deal with these issues," Krosby added, noting that troubles extend beyond just Greece.

The drop in the euro can be a problem for U.S. companies that do business in Europe. When the dollar is up against the currency, the profits they earn in European countries translate to fewer dollars and can cause a dip in earnings.

Greece agreed last week to tap a rescue package from the euro nations and the International Monetary Fund. However, there are now worries that Greece won't have access to the money before it is forced to make a big debt repayment on May 19.

A setback in the European economic recovery "sends a U.S. recovery back and spreads to emerging markets," said Eric Thorne, an investment adviser at Bryn Mawr Trust Wealth Management in Bryn Mawr, Pa.

The debt problems have the potential "to have devastating effects," Thorne said. Thorne noted, however, he doesn't yet predict a worst-case scenario that would put a global recovery completely on hold.

Tuesday's downgrades overshadowed a jump in consumer confidence and the latest upbeat earnings reports from U.S. companies including 3M and Dupont. Still, many analysts, noting that the market has been going up almost relentlessly the past two months, have said stocks were due for a pullback.

The news about Greece and Portugal also drew some of the market's attention away from testimony by Goldman Sachs CEO Lloyd Blankfein and other top executives from the bank on Capitol Hill. The executives testified about the company's dealings in mortgage-backed securities during the credit crisis.

The Securities and Exchange Commission has charged Goldman with civil fraud, accusing it of misleading investors about investments tied to subprime mortgages.

Goldman was actually one of the relatively few winning stocks Tuesday. Analysts said investors were reassured by the fact there were few new details in the testimony. The stock rose $1.01, or 0.7 percent, to $153.04.

The Dow fell 213.04, or 1.9 percent, to 10,991.99. It was the biggest drop for the average since it fell 268.37 on Feb. 4, also amid concerns about European debt problems.

The Standard & Poor's 500 index fell 28.34, or 2.3 percent, to 1,183.71, while the Nasdaq composite index dropped 51.48, or 2 percent, to 2,471.47.

Only 498 stocks rose on the New York Stock Exchange, while 2,592 fell. Volume came to a heavy 1.68 billion shares, compared with 1.2 billion Monday. It picked up markedly when news of the ratings downgrades came out.

Portugal's main stock index dropped 5.4 percent, while Greece's plummeted 6 percent. Britain's FTSE 100 fell 2.6 percent, Germany's DAX index dropped 2.7 percent, and France's CAC-40 tumbled 2.8 percent.

The Chicago Board Options Exchange's Volatility Index, known as the market's fear gauge, surged 30.6 percent. It often jumps when investors become rattled. Still, at about 22, it is far below the 89 that it reached in October 2008, at the height of the financial crisis.

Bond prices surged as investors sought safety in U.S. government-backed debt. The yield on the benchmark 10-year Treasury note, which moves opposite to its price, fell to 3.69 percent from 3.81 percent late Monday.

The Russell 2000 index of smaller companies fell 17.59, or 2.4 percent, to 721.27.

Dow components 3M Co. and Dupont Co. both reported better-than-expected first-quarter profits. The pair also boosted their earnings outlooks for the year based on improving sales and a rebounding economy.

3M shares rose 53 cents to $87.97, while DuPont dropped $1.55, or 3.7 percent, to $39.42.

The Conference Board's consumer confidence index jumped to 57.9 in April. Economists polled by Thomson Reuters had forecast it would rise to 53.5.

On Wednesday, the market will be watching the Federal Reserve, which will end a two-day, rate-setting meeting. The Fed has said it plans to keep rates at historic lows for an extended time to help the recovery. However, eventually rates will need to climb to fight inflation as the economic rebound continues. Investors are hoping the Fed will hold off on raising rates for some time.


----------



## bigdog

Source: http://finance.yahoo.com

Strength among financials helped the broader market fend off the challenge of another midsession sovereign debt downgrade and a late flurry of selling. The latest FOMC policy statement had no real effect on trade. 

Early trade was rather choppy, but the action was generally positive as stocks sported broad-based gains. Buying came largely as a reflex to the outsized losses that dropped stocks in the prior session. 

Investors gave stocks a rebound after reassuring words from the Federal Reserve and another batch of upbeat earnings reports.

The Dow Jones industrials rose 53 points Wednesday, making back a quarter of the 213 they lost the previous day.

Investors were able to shake off Standard & Poor's downgrade of Spain's debt, the third European country in two days to have its rating lowered. Instead, they focused on the domestic economy.

*The NYSE DOW closed HIGHER +53.28 points +0.48%  on Wednesday April 28*
Sym. Last......... ........Change.......... 
Dow 11,045.27 +53.28 +0.48% 
Nasdaq 2,471.73 +0.26 +0.01% 
S&P 500 1,191.36 +7.65 +0.65% 
30-yr Bond 4.6380% +0.7700 

NYSE Volume 7,042,364,000  (prior day 8,354,417,500)
Nasdaq Volume 2,722,792,750  (prior day 2,766,876,250)


*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,586.61 -16.91 -0.30% 
DAX 6,084.34 -75.17 -1.22% 
CAC 40 3,787.00 -57.60 -1.50% 

*Asia *
Symbol...... Last...... .....Change.......
Nikkei 225 10,924.79 -287.87 -2.57% 
Hang Seng 20,949.40 -312.39 -1.47% 
Straits Times 2,932.04 -59.64 -1.99% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks climb on earnings; Fed holds rate steady

Strong earnings help stocks bounce back after Spain's debt ratings latest to get slashed *

Stephen Bernard, AP Business Writer, On Wednesday April 28, 2010, 6:13 pm 

NEW YORK (AP) -- Investors gave stocks a rebound after reassuring words from the Federal Reserve and another batch of upbeat earnings reports.

The Dow Jones industrials rose 53 points Wednesday, making back a quarter of the 213 they lost the previous day.

Investors were able to shake off Standard & Poor's downgrade of Spain's debt, the third European country in two days to have its rating lowered. Instead, they focused on the domestic economy.

In an economic assessment statement that accompanied the Fed's decision to keep interest rates stable, the central bank said the labor market is "beginning to improve" and it noted that housing starts have edged up. The statement, which came at the end of a two-day policymaking meeting, did say that employers are still reluctant to hire, but that came as no surprise to investors.

The Fed said it expects to keep rates low for an "extended period" to help strengthen the economy.

"The Fed essentially kicked the can down the road," said Burt White, chief investment officer at LPL Financial in Boston. Eventually the Fed will have to raise rates, but that might not happen now until early in 2011, White said.

But the Fed's view of the economy is actually more conservative than data suggests, White said. That's because it is concerned about European debt problems, White added, noting that a slowdown in Europe's economy could slow U.S. exports and affect the domestic recovery.

Earnings provided a boost to stocks throughout the day. Cable company Comcast Corp., defense contractor Northrop Grumman Corp. and Dow Chemical Co. were the latest companies to top earnings expectations.

Tim Courtney, chief investment officer at Burns Advisory Group in Oklahoma City, said that improving sales at companies like Dow Chemical prove the economy is healing.

"It indicates consumers may be getting back on their feet," Courtney said.

The Dow rose 53.28, or 0.5 percent, to 11,045.27. The Standard & Poor's 500 index rose 7.65, or 0.7 percent, to 1,191.36, while the Nasdaq composite index rose 0.26, or 0.01 percent, to 2,471.73.

Wednesday's trading was far quieter than on Tuesday, when the market plunged on news that S&P slashed its credit ratings on Greece and Portugal. Greece's debt was cut to junk status, deepening the country's credit crisis.

"When you get some of these negative headlines, you will get a short-term negative pullback," said Brett D'Arcy, chief investment officer at CBIZ Wealth Management Group in San Diego.

European leaders calmed investors' nerves early Wednesday. They said Greece would receive bailout money in time to cover $11.3 billion in debt payments due on May 19.

German leaders said their country's portion of a nearly $60 billion bailout for Greece could be approved by the end of next week. Germany, the largest of the 16 countries that use the euro, has been demanding further spending cuts from Athens before it approves the bailout package.

Debt concerns across Europe have sent the euro sharply lower in the last few months. The euro traded in a narrow range against the dollar again on Wednesday, though it did touch its lowest level in a year earlier in the day.

Some analysts believe the debt problems could spread throughout the continent and hurt an economic recovery.

"Greece and Portugal will be Europe's subprime problem," said John Lekas, portfolio manager at Leader Capital in Portland, Ore.

After the close of trading, it was announced that Hewlett-Packard Co. was buying smart phone pioneer Palm Inc. for about $1 billion in cash. HP stock, which edged up 3 cents to $53.28 in regular trading, fell back to $52.93. Palm, which had closed down 2 cents at $4.63, shot up to $5.90, a 27 percent surge.

Dow Chemical rose $1.76, or 5.9 percent, to $31.83. Comcast rose 35 cents to $18.81, while Northrop Grumman rose $1.49, or 2.2 percent, to $68.67.

About three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to 6.4 billion shares, down from 7.5 billion Tuesday.

Bond prices dipped after surging higher a day earlier. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.77 percent from 3.69 percent late Tuesday.

Gold and oil both rose.

The Russell 2000 index of smaller companies rose 1.12, or 0.2 percent, to 722.39.

Overseas, Britain's FTSE 100 fell 0.3 percent, Germany's DAX index dropped 1.2 percent, and France's CAC-40 fell 1.1 percent. Japan's Nikkei stock average tumbled 2.6 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks surged higher after another series of upbeat earnings reports and a reading on unemployment provided more evidence of an improving economy.

The Dow Jones industrials rose 122 points Thursday after the Labor Department said initial claims for unemployment benefits fell last week. And companies including Motorola, Time Warner Cable and Starwood Hotels & Resorts reported earnings that topped analysts' forecasts.

It was the market's second straight winning day after a plunge Tuesday that took the Dow down 213. Greece's debt problems, one of the triggers for that slide, appeared less dire Wednesday and Thursday, and that allowed investors to focus on the growing signs of healing in the U.S.

High-volume buying gave the stock market its best single-session percentage gain in more than one month. The S&P 500 is now just 1% below its 52-week high, which was set earlier this week. Strength was steady and broad based for the entire session. 

*The NYSE DOW closed HIGHER +122.05 points +1.10% on Thursday April 29*
Sym. Last......... ........Change.......... 
Dow 11,167.32 +122.05 +1.10% 
Nasdaq 2,511.92 +40.19 +1.63% 
S&P 500 1,206.78 +15.42 +1.29% 
30-yr Bond 4.5910% -0.4700 

NYSE Volume 6,708,069,500  (prior day 7,042,364,000)
Nasdaq Volume 2,997,385,000  (prior day 2,722,792,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,617.84 +31.23 +0.56% 
DAX 6,144.91 +60.57 +1.00% 
CAC 40 3,840.62 +53.62 +1.42% 

*Asia *
Symbol...... Last...... .....Change.......
Nikkei 225 10,924.79 -287.87 -2.57% 
Hang Seng 20,778.92 -170.48 -0.81% 
Straits Times 2,954.23 +22.19 +0.76% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks climb on earnings, drop in jobless claims

Stocks rise on earnings, drop in jobless claims; European debt problems remain a focus *

Stephen Bernard, AP Business Writer, On Thursday April 29, 2010, 6:06 pm 

NEW YORK (AP) -- Stocks surged higher after another series of upbeat earnings reports and a reading on unemployment provided more evidence of an improving economy.

The Dow Jones industrials rose 122 points Thursday after the Labor Department said initial claims for unemployment benefits fell last week. And companies including Motorola, Time Warner Cable and Starwood Hotels & Resorts reported earnings that topped analysts' forecasts.

It was the market's second straight winning day after a plunge Tuesday that took the Dow down 213. Greece's debt problems, one of the triggers for that slide, appeared less dire Wednesday and Thursday, and that allowed investors to focus on the growing signs of healing in the U.S.

The Labor Department said first-time claims dipped to 448,000, slightly above analysts' forecast of 445,000, according to Thomson Reuters. It was the second weekly drop and lifted hopes that layoffs are slowing.

Dealmaking and strong corporate earnings reports added to the growing optimism.

Hewlett-Packard Co. said late Wednesday it is buying smart phone maker Palm Inc. in an all-cash deal worth $1.4 billion. Acquisitions are a sign that the economy is recovering and companies are comfortable spending cash to build their businesses.

"Business are in a very strong position financially," said Doug Lockwood, chief investment officer at Cornerstone Wealth Management in Auburn, Ind. Companies have built up big cash reserves that can not only go toward deals, but also eventually to hire back workers, Lockwood said.

Companies including Motorola, Time Warner Cable and Starwood Hotels & Resorts reported earnings that topped analysts' expectations, as have many other companies that announced first-quarter results in recent weeks.

"It just seems like the market is moving and moving and nothing is going to get in its way," said Steve Stahler, president of the Stahler Group Inc. in Baton Rouge, La.

On Friday, the government will give its first assessment of overall economic activity during the first quarter when it issues the gross domestic product. Analysts surveyed by Thomson Reuters forecast that the economy grew at an annual rate of 3.4 percent, down from 5.6 percent in the fourth quarter. However, many economists have warned for months that the hectic pace at the end of 2009 would not be sustained, so a lower rate of growth won't be seen as a negative -- as long as it meets or beats expectations.

The Dow rose 122.05, or 1.1 percent, to 11,167.32, bringing its two-day advance to 175.33. The Standard & Poor's 500 index rose 15.42, or 1.3 percent, to 1,206.78, while the Nasdaq composite index rose 40.19, or 1.6 percent, to 2,511.92.

European stock markets rose Thursday after two days of steep declines. On Wednesday Spain became the third European country this week to see its debt rating slashed by Standard & Poor's, following Greece and Portugal.

There are concerns that debt problems will spread across the continent and slow a global economic recovery. The most pressing problems are in Greece, which is still trying to tap a bailout package worth nearly $60 billion. European Union officials said again Thursday that Greece would have access to the money that will help it avoid defaulting on debt payments next month. The downgrades of Greek and Portuguese debt on Tuesday sent indexes worldwide tumbling.

Guy LeBas, chief fixed income strategist of Janney Montgomery Scott in Philadelphia, said the Greece crisis is "the tip of the iceberg for the European Union."

The debt crisis has the potential to drag down a European economic recovery and lead to a collapse of the euro, a currency shared by 16 member nations, LeBas said. That could hurt the recovery in the U.S. and other countries as well.

Some analysts said investors were overreacting to the situation in Europe when they sent stocks tumbling Tuesday. But analysts also acknowledged that the market was due for a pullback after moving steadily higher for months. When stocks go in one direction for a sustained period of time, market watchers worry that investors are buying or selling indiscriminately.

Earnings were one of the primary drivers of stocks Thursday.

Starwood Hotels & Resorts Worldwide Inc.'s profit jumped sharply as more people checked in its hotels, including the Sheraton, W, and Westin. Drug maker Bristol-Myers Squibb Co., phone maker Motorola Inc. and Time Warner Cable Inc. also reported stronger earnings.

Dow component ExxonMobil Corp.'s profit rose during the quarter, but fell short of expectations. Exxon Mobil fell 53 cents, or 0.8 percent, to $68.66.

Starwood Hotels & Resorts rose $3.02, or 5.7 percent, to $56.29, while Bristol-Myers Squibb rose $1.03, or 4.2 percent, to $25.37. Motorola jumped 24 cents, or 3.5 percent, to $7.16 and Time Warner Cable rose $4.02, or 7.6 percent, to $57.15.

Hewlett-Packard shares fell 40 cents to $52.88, while Palm surged $1.21, or 26 percent, to $5.84.

About three shares rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 6.1 billion shares, down from 6.4 billion on Wednesday.

Bond prices rose slightly after an auction for $32 billion in seven-year Treasury notes. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.73 percent from late Wednesday's 3.77 percent.

Gold fell, while oil rose.

The Russell 2000 index of smaller companies rose 15.35, or 2.1 percent, to 737.74.

Overseas, Britain's FTSE 100 rose 0.6 percent, Germany's DAX index gained 1 percent, and France's CAC-40 rose 1.4 percent. Japan's market was closed for a holiday.


----------



## bigdog

Source: http://finance.yahoo.com

Investors sent stocks soaring Monday after getting a boost of confidence from the latest economic reports and Warren Buffett's defense of Goldman Sachs.

The Dow Jones industrial average rose 143 points for its biggest gain in two and a half months. The Dow and broader indexes all climbed more than 1 percent.

The market rebounded from a drop Friday after a string of welcome news eased some of the concerns that have been dogging investors. Economic reports signaled that consumer spending and manufacturing are strengthening.

Unable to push past 1205, the S&P 500 settled just a few points shy of its session high with broad-based gains. 

*The NYSE DOW closed HIGHER +143.22  points +1.30%  on Monday May 3*
Sym. Last......... ........Change.......... 
Dow 11,151.83 +143.22 +1.30% 
Nasdaq 2,498.74 +37.55 +1.53% 
S&P 500 1,202.26 +15.58 +1.31% 
30-yr Bond 4.5460% +0.1900 

NYSE Volume 5,451,307,000   (prior day 6,708,069,500)
Nasdaq Volume 2,336,490,750  (prior day 2,997,385,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,553.29 -64.55 -1.15% 
DAX 6,166.92 +31.22 +0.51% 
CAC 40 3,828.46 +11.47 +0.30% 

*Asia *
Symbol...... Last...... .....Change.......
Nikkei 225 11,057.40 +132.61 +1.21% 
Hang Seng 20,811.36 -297.23 -1.41% 
Straits Times 2,944.22 -30.39 -1.02% 

http://finance.yahoo.com/news/Stron...6.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stronger economic reports pull stocks higher

Stocks rise after consumer, manufacturing data improve; Buffett defense of Goldman brings calm*

Tim Paradis, AP Business Writer, On Monday May 3, 2010, 5:59 pm 

NEW YORK (AP) -- Investors sent stocks soaring Monday after getting a boost of confidence from the latest economic reports and Warren Buffett's defense of Goldman Sachs.

The Dow Jones industrial average rose 143 points for its biggest gain in two and a half months. The Dow and broader indexes all climbed more than 1 percent.

The market rebounded from a drop Friday after a string of welcome news eased some of the concerns that have been dogging investors. Economic reports signaled that consumer spending and manufacturing are strengthening.

Meanwhile, Germany's approval of bailout funds for Greece and Buffett's vote of confidence in Goldman, whose shares he owns, helped reassure investors. Goldman has been under fire the past two weeks after regulators filed civil charges accusing the bank of fraudulent dealing in mortgage-backed securities.

An agreement by United Airlines to acquire Continental Airlines Inc. in a stock deal worth about $3 billion also lifted stock prices. Investors see corporate dealmaking as a positive sign for the economy.

"The merger in the airlines is great. As you begin to see mergers that means there is value out there," said Anthony Conroy, managing director and head trader for BNY ConvergEx Group.

Traders funneled money to retail and restaurant stocks after the Commerce Department said that personal spending rose 0.6 percent in March, the biggest increase in five months. However, personal income rose just 0.3 percent. The reports were in line with analysts' expectations but showed that consumers were pulling money from savings to make purchases.

Manufacturing continued to show broad improvement. Orders have been flowing to factories for months while companies rebuild depleted inventories. The Institute for Supply Management said that U.S. manufacturing activity expanded last month at the fastest pace in nearly six years. The trade group's manufacturing index rose to 60.4 in April from 59.6 in March. Economists expected a reading of 60.

The market has swung over the past week on investor indecision about the risks that face the economy. Economic numbers and concern about government debt loads in Europe are making traders quick to jump in and out of stocks. The Dow has risen or fallen by more than 100 points in four of the past six days.

Stocks bounced higher after a disappointing end to April. The market had tumbled Friday following mixed economic reports and concerns about a possible criminal investigation of Goldman Sachs. The government reported the nation's economy grew at a slower pace in the first quarter than had been forecast and a report on consumer sentiment showed a drop in confidence in April.

The Dow rose 143.22, or 1.3 percent, to 11,151.83, its biggest point and percentage gain since Feb. 16. It was the fourth largest increase of the year.

The broader Standard & Poor's 500 index rose 15.57, or 1.3 percent, to 1,202.26, and the Nasdaq composite index rose 37.55, or 1.5 percent, to 2,498.74.

Bond prices fell after demand for safety holdings eased. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.69 percent from 3.66 percent late Friday.

The dollar rose, while gold climbed.

Crude oil rose 4 cents to $86.19 per barrel on the New York Mercantile Exchange. Traders watched developments of the Gulf oil spill. There are concerns that the fallout from the April 20 accident could disrupt supplies and refining capacity. That would drive the price of oil higher and could hurt the economy.

European markets were volatile after the European Union and the International Monetary Fund agreed to provide Greece with $145 billion over the next three years to help it with its ongoing debt problems. European shares fell but closed higher after U.S. stocks rose.

Some investors are still skittish about Greece's ability to get its debt problems under control and the potential for other European nations to face similar issues. The euro fell against the dollar.

Shares of Goldman Sachs rose $4.30, or 3 percent, to $149.50 after Buffett said over the weekend that he doesn't think the investment bank committed fraud. The SEC has accused the company of fraud in a deal involving mortgage securities deals it set up. Goldman has denied wrongdoing.

"It is significant that Buffett came out pretty strongly in favor of Goldman Sachs," said John Apruzzese, partner and equity portfolio manager at Evercore Wealth Management in New York. He said some observers will dismiss the defense because Buffett owns shares in Goldman. Still, Buffett is a powerful voice for investors.

"Given his reputation, I think that was helpful," Apruzzese said.

United parent UAL Corp. rose 51 cents, or 2.4 percent, to $22.11, while Continental climbed 51 cents, or 2.3 percent, to $22.86.

Ford Motor Co. rose 28 cents, or 2.2 percent, to $13.30 after posting a 25 percent increase in its April sales.

Macy's Inc. rose 54 cents, or 2.3 percent, to $23.74 following the consumer spending report. McDonald's Corp. rose 83 cents, or 1.2 percent, to $71.42.

Apple Inc. rose $5.26, or 2 percent, to $266.35 after the company said it sold 1 million of its iPad tablet computers in the month since it introduced the product.

About three stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 5 billion shares compared with 6.3 billion Friday.

The Russell 2000 index of smaller companies rose 16.22, or 2.3 percent, to 732.82.

Germany's DAX index rose 0.5 percent, and France's CAC-40 rose 0.3 percent. Britain's FTSE 100 was closed for a bank holiday. Markets in Japan were closed for a holiday.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks plunged around the world Tuesday as fears spread that Europe's attempt to contain Greece's debt crisis would fail. The euro fell to its lowest point against the dollar in a year.

The Dow Jones industrial average fell 225 points, its biggest drop in three months. The slide erased a 143-point gain from Monday. The Dow and broader indexes each fell more than 2 percent. Treasury prices rose on increased demand for safe investments.

Stocks have seesawed in the past week as Europe's efforts to agree on a bailout package for Greece proceeded in fits and starts. An agreement finally came together over the weekend, but its ballooning size of $144 billion has investors worried that Europe would have an even tougher time assembling an aid package if a larger country such as Spain or Portugal were to get in trouble. Traders are concerned that weakening economies in Europe could jeopardize the recovery in this country.

*The NYSE DOW closed LOWER -225.06 points -2.02% on Tuesday May 4*
Sym. Last......... ........Change.......... 
Dow 10,926.77 -225.06 -2.02% 
Nasdaq 2,424.25 -74.49 -2.98% 
S&P 500 1,173.60 -28.66 -2.38% 
30-yr Bond 4.4390% -1.0700 

NYSE Volume 7,436,388,000  (prior day  5,451,307,000)
Nasdaq Volume 3,007,107,000  (prior day  2,336,490,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,411.11 -142.18 -2.56% 
DAX 6,006.86 -160.06 -2.60% 
CAC 40 3,689.29 -139.17 -3.64% 

*Asia *
Symbol...... Last...... .....Change.......
Nikkei 225 11,057.40 +132.61 +1.21% 
Hang Seng 20,763.05 -48.31 -0.23% 
Straits Times 2,901.18 -43.04 -1.46% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Stocks slide as new doubts about Greek aid emerge

Stocks in US, Europe slump as fears of debt contagion from Greece worsen; Dow tumbles 225* 

Tim Paradis, AP Business Writer, On Tuesday May 4, 2010, 4:34 pm EDT 

NEW YORK (AP) -- Stocks plunged around the world Tuesday as fears spread that Europe's attempt to contain Greece's debt crisis would fail. The euro fell to its lowest point against the dollar in a year.

The Dow Jones industrial average fell 225 points, its biggest drop in three months. The slide erased a 143-point gain from Monday. The Dow and broader indexes each fell more than 2 percent. Treasury prices rose on increased demand for safe investments.

Stocks have seesawed in the past week as Europe's efforts to agree on a bailout package for Greece proceeded in fits and starts. An agreement finally came together over the weekend, but its ballooning size of $144 billion has investors worried that Europe would have an even tougher time assembling an aid package if a larger country such as Spain or Portugal were to get in trouble. Traders are concerned that weakening economies in Europe could jeopardize the recovery in this country.

The market's plunge wasn't a surprise to some analysts who have warned for weeks that stocks were due for a retreat. After Monday's rally, the Standard & Poor's 500 index was up almost 14 percent from its 2010 low of 1,056.74, reached Feb. 8. Investors have spent the past three months largely shrugging off the problems in Europe and focusing instead on the continuing signs of improvement in the U.S. economy.

The drop in stocks brought a reminder that it doesn't take much to rattle investors who are on alert for anything that could disrupt the economic recovery. The avalanche of selling could continue while investors await answers on Greece but analysts said most drops are likely to be mild because buyers have for months been using pullbacks as opportunities to buy.

The selling Tuesday after Monday's advance was reminiscent of the fearsome swings in the fall of 2008 and early 2009 when investors were panicked over how bad the recession would get.

Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York, said the sudden turns in the market are to be expected as traders wrestle concerns that stocks are overheated.

"The market has kind of gotten itself into a volatile trading range," Fullman said.

The trouble in Greece gave investors enough reason to worry that other cash-strapped European governments could follow Greece into asking for emergency loans. Traders have been skeptical that Europe can act on its own restore the credibility of its shared currency, the euro.

Mike Shea, managing partner at Direct Access Partners LLC in New York, said investors are concerned that the bailout for Greece and possibly other countries could threaten a rebound in other parts of Europe.

"It's not as though even the strongest economies of Europe are doing particularly well," Shea said. "Why is a plumber in Germany going to bail out Greece or Portugal?"

According to preliminary calculations, the Dow fell 225.06, or 2 percent, to 10,926.77, its lowest close since April 7. The Dow had been down as much as 283 points at its low of the day.

The slide was the Dow's fifth move of more than 100 points in the past six days. The Dow jumped 143 points Monday after falling 159 on Friday.

The S&P 500 index fell 28.66, or 2.4 percent, to 1,173.60. The Nasdaq composite index fell 74.49, or 3 percent, to 2,424.25.

Investors rushed to safety holdings like Treasurys, pushing down yields. The yield on the benchmark 10-year Treasury note fell to 3.61 percent from 3.69 percent late Monday.

The Chicago Board Options Exchange's Volatility Index, which is known as the market's fear gauge, soared 18 percent. That is a signal that more investors are betting on big drops in the market.

The euro again fell against the dollar as traders turned away from the currency, which is used by 16 European Union countries including Greece. Investors have punished the euro over the past few months over doubts that Europe would be able to enforce fiscal discipline in Greece and other weak countries in the region in order to protect the euro.

Anthony Chan, chief economist at J.P. Morgan Private Wealth Management in New York, said the troubles in Greece aren't enough to spoil a global rebound but that investors are concerned that this small hole in the economy will become bigger.

"My suspicion is that this won't end up being large enough to really cause the kind of problems that the market is obsessed with," he said.

The dollar rose against other major currencies, especially the euro. The euro sank as low as $1.2994 in New York, its weakest point since April 2009. It was worth $1.3212 late Monday and had traded as high as $1.51 last November, before the extent of Greece's debt crunch had become apparent.

The rising dollar is a negative for investors because it would cut into profits for U.S. companies with sizable foreign operations. Profit growth is the ultimate driver of stock prices so a sense that earnings might falter could make it harder for the market to climb. When the dollar is up, overseas profits translate into less money. The stronger dollar also makes it more expensive for foreign buyers to purchase commodities like oil. That hurts demand.

Crude oil fell to $3.45, or 4 percent, to $82.74 per barrel on the New York Mercantile Exchange.

The drop in commodities hurt companies like aluminum producer Alcoa Inc., which fell 57 cents, or 4.3 percent, to $12.58. Caterpillar Inc., the maker of construction and mining equipment, lost $3.24, or 4.6 percent, to $66.70. Caterpillar posted the steepest percentage drop among the 30 stocks that make up the Dow industrials.

Banks also fell on concerns about the debt problems. Spain's Banco Santander S.A. fell $1.08, or 8.8 percent, to $11.14. Bank of America Corp. fell 50 cents, or 2.8 percent, to $17.56.

Meanwhile, protests erupted throughout Greece against the spending cuts the country has promised to make to receive the bailout loans. A general strike has been called for Wednesday. Greece agreed on Sunday to slash public spending by $40 billion to secure the loans.

"Everybody is worried about who is going to be next," said Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York. He said stocks are still likely to resume their climb after a drop of a day or two.

"The trend of the market is still up," Fullman said.

Improved economic reports brought little help to stocks.

The Commerce Department said orders to U.S. factories rose 1.3 percent in March. Analysts expected a drop. The National Association of Realtors said its index of sales agreements for previously occupied homes rose a stronger-than-expected 5.3 percent in March.

About six stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.5 billion shares compared with 1.2 billion Monday.

The Russell 2000 index of smaller companies fell 23.12, or 3.2 percent, to 709.70.

Britain's FTSE 100 and Germany's DAX index each dropped 2.6 percent, and France's CAC-40 tumbled 3.3 percent. Greece's main index fell 6.7 percent, while Spain's Ibex 35 index lost 5.4 percent. Portugal's PSI 20 fell 4.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The stock market extended its slide Wednesday after investors couldn't shake their concerns about European countries' big debt loads.

The Dow Jones industrial average ended down about 59 points to put its two-day drop at 284. The Dow halved its loss by the close but finished off its high of the day. Treasury prices rose and pushed down interest rates in the bond market for a second day.

A drop in the euro and a rise in the dollar continued to ram markets around the world. The stronger dollar hurts U.S. stocks by cutting into profits of U.S. companies that do business abroad. A higher dollar also hurts commodity prices by reducing demand from foreign buyers.

*The NYSE DOW closed LOWER -58.65 points -0.54% on Wednesday May 5*
Sym. Last......... ........Change.......... 
Dow 10,868.12 -58.65 -0.54% 
Nasdaq 2,402.29 -21.96 -0.91% 
S&P 500 1,165.87 -7.73 -0.66% 
30-yr Bond 4.3940% -0.4500 

NYSE Volume 7,701,488,000  (prior day 7,436,388,000)
Nasdaq Volume 2,980,217,000  (prior day 3,007,107,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,341.93 -69.18 -1.28% 
DAX 5,958.45 -48.41 -0.81% 
CAC 40 3,636.03 -53.26 -1.44% 

*Asia *
Symbol...... Last...... .....Change.......
Nikkei 225 11,057.40 +132.61 +1.21% 
Hang Seng 20,327.54 -435.51 -2.10% 
Straits Times 2,860.31 -40.87 -1.41% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks extend decline on European debt worries

Stocks fall for 2nd day as traders remain wary of debt woes in Europe; Dow falls 59 points *

Tim Paradis, AP Business Writer, On Wednesday May 5, 2010, 5:59 pm EDT 

NEW YORK (AP) -- The stock market extended its slide Wednesday after investors couldn't shake their concerns about European countries' big debt loads.

The Dow Jones industrial average ended down about 59 points to put its two-day drop at 284. The Dow halved its loss by the close but finished off its high of the day. Treasury prices rose and pushed down interest rates in the bond market for a second day.

A drop in the euro and a rise in the dollar continued to ram markets around the world. The stronger dollar hurts U.S. stocks by cutting into profits of U.S. companies that do business abroad. A higher dollar also hurts commodity prices by reducing demand from foreign buyers.

Investors are concerned that a $144 billion aid package for Greece won't be adequate to keep debt problems in Europe from spreading. There were also questions about whether the bailout would amount to more than a short-term fix for Greece. Investors don't want the trouble in Greece to spill to other countries and disrupt a global rebound.

Swings in global stock markets have intensified in the past week. Wednesday was the sixth time in seven days the Dow moved by more than 100 points. Investors have questions about Greece but they're also awaiting the government's April jobs report on Friday and monitoring Washington's overhaul of the rules that govern financial companies.

The problems in Greece are rattling the market partly because they are reminiscent of the subprime mortgage crisis in the U.S. that at first appeared contained. That bad debt cascaded through the world's financial system and pushed the U.S. economy into recession at the end of 2007.

German Chancellor Angela Merkel on Wednesday encouraged lawmakers in Berlin to rush the approval of Germany's share of the Greek rescue plan by Friday. Analysts say delays could bring more upheaval to global markets.

Investors fear that if a tourniquet for Greece's financial problems doesn't hold, it would be harder to help larger countries like Spain and Portugal that also face big deficits. Moody's Investors Service warned on Wednesday that it could cut Portugal's credit rating two notches in the next three months. Standard & Poor's cut Portugal's credit rating last week.

Adam Gould, senior portfolio manager at Direxion Funds in New York, said the uncertainty about what will happen in Europe is keeping investors from buying dips in the market the way they have for most of the 14-month climb in stocks.

"This is really a story that has the market spooked," Gould said. "First it was Greece. Now it's Spain and Portugal."

Fixing Greece's financial problems won't be easy. Riots erupted in Athens on Wednesday over tax hikes and government spending cuts that the International Monetary Fund and other European nations are requiring as part of the bailout. Three people were killed in the protests.

The problems of heavy government debts are a big test for the euro. Sixteen countries use the common currency. The euro fell against the dollar, sliding as low as $1.2805 in New York. That was its weakest level since March 2009.

The Dow fell 58.65, or 0.5 percent, to 10,868.12. It had been up as much as 20 points and down nearly 112 points.

The Dow is down 2.5 percent in two days, its steepest back-to-back drop in three months.

The broader Standard & Poor's 500 index fell 7.73, or 0.7 percent, to 1,165.87, while the Nasdaq composite index fell 21.96, or 0.9 percent, to 2,402.29.

Bond prices rose. The yield on the benchmark 10-year Treasury note fell to 3.54 percent from 3.60 percent late Tuesday.

Gold rose. Crude oil fell $2.77 to $79.97 per barrel on the New York Mercantile Exchange.

Kevin Mahn, chief investment officer at Hennion & Walsh in Parsippany, N.J., said the debt problems are severe but not new. He said investors had been looking for an excuse to sell stocks after the market's steep 14-month climb. Mahn expects the big back-and-forth moves will continue.

"I think it's going to be more of an extended pause than a correction," Mahn said.

The drop in commodity prices hurt energy and materials stocks. Retailers also fell ahead of April sales reports on Thursday.

Occidental Petroleum Corp. fell $3.66, or 4.2 percent, to $82.88, while Best Buy Co. slid $1.65, or 3.7 percent, to $42.90.

Investors looking for continued signs of a U.S. rebound found another encouraging sign on employment Wednesday. Payroll company ADP said private employers added 32,000 jobs last month. That was slightly above expectations.

The ADP report is seen an early indicator of the government's monthly employment report, though there are often wide variations because the ADP only accounts for private-sector jobs.

The Labor Department is expected to report Friday that the unemployment rate was unchanged at 9.7 percent last month while employers added 200,000 jobs. Unemployment is considered the main obstacle to a sustained recovery of the U.S. economy.

A trade group said that services industries expanded in April at a slower pace than economists expected. The Institute for Supply Management said its service sector index was unchanged at 55.4 in April from March. Analysts expected an increase. Still, a reading above 50 indicates growth.

About four stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume rose to 6.8 billion shares from 6.6 billion Tuesday.

The Russell 2000 index of smaller companies fell 11.12, or 1.6 percent, to 698.58.

Britain's FTSE 100 fell 1.3 percent, Germany's DAX index dropped 0.8 percent, and France's CAC-40 fell 1.4 percent. In Greece, the main stock index fell 3.9 percent. Portugal's PSI 20 lost 1.5 percent and Spain's main index fell 2.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com

*Panic Eases as Dow Drops 3% After Plunging Nearly 1,000 Points*

Stocks plunged 9 percent in the last two hours of trading on Thursday before clawing back some of the losses as the escalating debt crisis in Europe stoked fears a new credit crunch was in the making.

The Dow suffered its biggest ever intraday point drop, which may have been caused by an erroneous trade entered by a person at a big Wall Street bank, multiple market sources said.

Indexes recovered some of their losses heading into the close but equities had erased much of their gains for the year to end down just over 3 percent, the biggest fall since April 2009.

*Stocks extend plunge on concerns about Greece

Stocks tumble anew on concerns Greek debt problems will spread through Europe,to the US *

The stock market had one of its most turbulent days in history as the Dow Jones industrials dropped almost 1,000 points in less than half an hour on fears that Greece's debt problems could halt the global economic recovery.

The market's plunge came less than 90 minutes before the end of trading. The Dow's drop was its largest loss ever during the course of a trading day, but it recovered to a loss of 347 at the close. All the major indexes lost more than 3 percent.

There were reports that the sudden drop was caused by a trader who mistyped an order to sell a large block of stock. The drop in that stock's price was enough to trigger "sell" orders across the market.

Still, the Dow was already down more than 200 points as traders watched protests in the streets of Athens on TV. Protestors raged against austerity measures passed by the Greek parliament. But traders were not comforted by the fact that Greece seemed to be working towards a resolution of its debt problems. Instead, they focused on the possibility that other European countries would also run into trouble, and that the damage to their economies could spread to the U.S.

*The NYSE DOW closed LOWER -58.65 points -0.54% on Thursday May 6*
Sym. Last......... ........Change.......... 
Dow 10,520.32 -347.80 -3.20% 
Nasdaq 2,319.64 -82.65 -3.44% 
S&P 500 1,128.15 -37.72 -3.24% 
10 Yr Bond(%) 3.40% -1.52 

NYSE Volume 11,843,004.00  (prior day 7,701,488,000)
Nasdaq Volume 4,478,140.00  (prior day 2,980,217,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,260.99 -80.94 -1.52% 
DAX 5,908.26 -50.19 -0.84% 
CAC 40 3,556.11 -79.92 -2.20% 

*Asia *
Symbol...... Last...... .....Change.......
Nikkei 225 10,695.69 -361.71 -3.27% 
Hang Seng 20,133.41 -194.13 -0.96% 
Straits Times 2,839.65 -20.66 -0.72% 

http://finance.yahoo.com/news/Stocks-extend-plunge-on-apf-892184148.html?x=0

*Stocks extend plunge on concerns about Greece

Stocks tumble anew on concerns Greek debt problems will spread through Europe,to the US *

Tim Paradis, AP Business Writer, On Thursday May 6, 2010, 4:53 pm 

NEW YORK (AP) -- The stock market had one of its most turbulent days in history as the Dow Jones industrials dropped almost 1,000 points in less than half an hour on fears that Greece's debt problems could halt the global economic recovery.

The market's plunge came less than 90 minutes before the end of trading. The Dow's drop was its largest loss ever during the course of a trading day, but it recovered to a loss of 347 at the close. All the major indexes lost more than 3 percent.

There were reports that the sudden drop was caused by a trader who mistyped an order to sell a large block of stock. The drop in that stock's price was enough to trigger "sell" orders across the market.

Still, the Dow was already down more than 200 points as traders watched protests in the streets of Athens on TV. Protestors raged against austerity measures passed by the Greek parliament. But traders were not comforted by the fact that Greece seemed to be working towards a resolution of its debt problems. Instead, they focused on the possibility that other European countries would also run into trouble, and that the damage to their economies could spread to the U.S.

"The market is now realizing that Greece is going to go through a depression over the next couple of years," said Peter Boockvar, equity strategist at Miller Tabak. "Europe is a major trading partner of ours, and this threatens the entire global growth story."

The stock market has had periodic bouts of anxiety about the European economies during the past few months. They have intensified over the past week even as Greece appeared to be moving closer to getting a bailout package from some of its neighbors.

Computer trading intensified the losses as programs designed to sell stocks at a specified level kicked in. Traders use those programs to try to limit their losses when the market is falling. And the selling only led to more selling as prices fell.

"I think the machines just took over. There's not a lot of human interaction," said Charlie Smith, chief investment officer at Fort Pitt Capital Group. "We've known that automated trading can run away from you, and I think that's what we saw happen today."

On the floor of the New York Stock Exchange, stone-faced traders huddled around electronic boards and televisions, silently watching and waiting. Traders' screens were flashing numbers non-stop, with losses shown in solid blocks of red numbers.

The impact on some stocks was enormous although brief. Stock in the consulting firm Accenture fell to 4 cents after closing at $42.17 on Wednesday. It closed at $41.09, down just over $1.

NYSE spokesman Raymond Pellecchia said the plunge wasn't caused by a problem with the exchange's trading systems. The Nasdaq Stock Market said it was reviewing its trades with other trading networks.

Even if there were technical issues, emotions about the world economy were running high. Down 998.50 points in its largest point drop ever, the Dow recovered two-thirds of that amount but still had its biggest point loss since February 2009.

The Dow has lost 631 points, or more than 5 percent, in three days amid worries about Greece. That is its largest three-day percentage drop since March 2009, when the stock market was nearing its bottom following the financial crisis.

The losses were so widespread that just 173 stocks rose on the NYSE, compared to 3,008 that fell. The major indexes were all down more than 3 percent.

Meanwhile, interest rates on Treasurys soared as traders sought the safety of U.S. government debt. The yield on the benchmark 10-year note, which moves opposite its price, fell to 3.4 percent from late Wednesday's 3.54 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Friday's trading left the Dow down 5.7 percent for the week and erased its gains for the year. The S&P fell about 6.4 percent, while the Nasdaq was off 7.9 percent for the week. The S&P and Nasdaq also went into the red for 2010.

The week's losses would put the market about well toward what experts call a "correction," usually defined as a drop of between 10 percent and 20 percent following a sustained rise. The Dow is now 7.4 percent off its recent high of 11,205.03 reached on April 26. The S&P 500 is down 8.7 percent from its recent high of 1,217.28 reached April 23.

Stocks falter after wild day, Europe woes linger

Stocks slide again a day after wild ride; European debt woes are still a worry 
Stocks had another volatile day Friday, swinging widely before closing sharply lower.

The Dow Jones industrials closed with a loss of about 140 points, having been down almost 280 earlier. That followed a brief plunge of nearly 1,000 points on Thursday, the biggest one-day drop in the Dow's history. The erratic trading Friday was no surprise -- stocks often fluctuate sharply right after the market suffers a big slide.

Traders were still anxious amid lingering questions about what caused Thursday's sudden drop. Several possibilities were being investigated, but as of late Friday no clear explanation had emerged.

*The NYSE DOW closed LOWER -139.89 points -1.33% on Friday May 7*
Sym. Last......... ........Change.......... 
Dow 10,380.43 -139.89 -1.33% 
Nasdaq 2,265.64 -54.00 -2.33% 
S&P 500 1,110.88 -17.27 -1.53% 
30-yr Bond 4.2800% +1.1500 

NYSE Volume 10,867,255,000 (prior day 11,843,004,000)
Nasdaq Volume 4,182,665,000  (prior day 4,478,140,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,131.02 -129.97 -2.47% 
DAX 5,715.09 -193.17 -3.27% 
CAC 40 3,380.57 -175.54 -4.94% 

*Asia *
Symbol...... Last...... .....Change.......
Nikkei 225 10,364.59 -331.10 -3.10% 
Hang Seng 19,920.29 -213.12 -1.06% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks falter after wild day, Europe woes linger

Stocks slide again a day after wild ride; European debt woes are still a worry *

Stephen Bernard and Seth Sutel, AP Business Writers, On Friday May 7, 2010, 4:52 pm EDT 
NEW YORK (AP) -- Stocks had another volatile day Friday, swinging widely before closing sharply lower.

The Dow Jones industrials closed with a loss of about 140 points, having been down almost 280 earlier. That followed a brief plunge of nearly 1,000 points on Thursday, the biggest one-day drop in the Dow's history. The erratic trading Friday was no surprise -- stocks often fluctuate sharply right after the market suffers a big slide.

Traders were still anxious amid lingering questions about what caused Thursday's sudden drop. Several possibilities were being investigated, but as of late Friday no clear explanation had emerged.

The market looked past a surprisingly strong report on the U.S. jobs market and focused instead on the harrowing plunge the day before and the latest moves in Europe's spreading debt crisis that had helped trigger Thursday's big drop.

Technology stocks were particularly hard hit following reports that Nokia Corp. was broadening its legal fight against rival cell phone maker Apple Inc. to include the iPad, Apple's new hit product. Apple shares fell 4.2 percent in heavy trading.

Meanwhile, Germany's parliament approved Berlin's share of the rescue package after a boisterous debate. However, investors still fear that Greece may not make a May 19 deadline to make a debt repayment.

The concerns go far beyond Greece, the smallest economy in the European Union. A further loss of confidence in European government debt could have an impact on other weak countries like Portugal, potentially requiring another difficult bailout process. The debt crisis has already badly undermined Europe's shared currency, the euro.

"You're not concerned about the kid with the cold, but how he spreads it to the rest of the class," said Len Blum, a managing partner at investment bank Westwood Capital. Blum noted that Greece's debt problem could be similar to the subprime mortgage meltdown in the U.S., which quickly spread to other parts of the financial system.

According to preliminary calculations, the Dow closed down 139.89, or 1.3 percent, at 10,380.43

The Standard & Poor's 500 index fell 17.27, or 1.5 percent, at 1,110.88, while the Nasdaq composite fell 54, or 2.3 percent, to 2,265.64

Falling stocks outpaced gainers two-to-one on the New York Stock Exchange, where volume was a heavy 2.4 billion shares.

Friday's trading left the Dow down 5.7 percent for the week and erased its gains for the year. The S&P fell about 6.4 percent, while the Nasdaq was off 7.9 percent for the week. The S&P and Nasdaq also went into the red for 2010.

The week's losses would put the market about well toward what experts call a "correction," usually defined as a drop of between 10 percent and 20 percent following a sustained rise. The Dow is now 7.4 percent off its recent high of 11,205.03 reached on April 26. The S&P 500 is down 8.7 percent from its recent high of 1,217.28 reached April 23.

Stocks have been on a nearly uninterrupted upward path since March of last year, when indexes hit 12-year lows. Analysts have been predicting a correction for months, only to see the market bounce back after brief periods of decline.

Long-term market watchers actually welcome occasional pullbacks in stocks, saying that gives investors opportunities to pick up shares at bargain prices.

"We were in the midst of a pullback, we needed one, we got one," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners Inc. Cardillo said the choppy trading after such a drastic decline likely signals the market trying to find a bottom.

"Yesterday's glitch certainly means it's going to take some time for the victims of the decline to sort that out," Cardillo said. "But once we do, the market is probably a buy."

In economic news, the Labor Department reported that employers added 290,000 jobs last month, far more than expected and the biggest jump in four years. However the jobless rate rose to 9.9 percent from 9.7 percent as more people looked for work.

The big improvement in the jobs report brought some clarity to the biggest question remaining for the U.S. economy: When employers would start hiring again. Despite positive signs in manufacturing and housing, job creation has been lagging far behind other sectors of the economy, a worrisome point for economists. Friday's report may help change that perception.

"It's a good-size number and it had a lot of breadth," said John Silvia, chief economist at Wells Fargo. "There isn't a double-dip out there. The employment situation suggests that we have a sustained economic recovery in the U.S. Companies are hiring people."

Apple fell $10.39, or 4.2 percent, to $235.86.

Oil fell, and gold rose. The dollar was mostly lower against most currencies. The euro clawed back some ground against the dollar after several days of declines.

European markets were broadly lower.

The declines were deepest in France, where the CAC-40 index tumbled 4.6 percent. Germany's DAX fell 3.3 percent and Britain's FTSE 100 fell 2.6 percent. Japan's Nikkei fell 3.1 percent.

8977


----------



## bigdog

Source: http://finance.yahoo.com

*Stocks surge on plan to ease European debt crunch

Stocks surge on global effort to ease European debt crunch; Dow industrials jump 405 points *


Stocks rocketed to their biggest gain in a year and bond prices fell Monday after a nearly $1 trillion plan to contain Europe's debt crisis reassured investors.

The Dow Jones industrial average rose about 405 points to its biggest advance since March 2009. Broader U.S. indexes outpaced the Dow's 3.9 percent rise. Gains in several European markets topped 9 percent.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.54 percent from 3.43 percent late Friday. The drop in demand for safety holdings like Treasurys signaled that investors are less afraid that Europe's debt problems will endanger a global recovery.

*The NYSE DOW closed HIGHER +404.71 points +3.90%  on Monday May 10*
Sym. Last......... ........Change.......... 
Dow 10,785.14 +404.71 +3.90% 
Nasdaq 2,374.67 +109.03 +4.81% 
S&P 500 1,159.73 +48.85 +4.40% 
30-yr Bond 4.41% +1.30 

NYSE Volume 7,959,239,000  (prior day 10,867,255,000)
Nasdaq Volume 2,869,847,750  (prior day 4,182,665,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,387.42 +264.40 +5.16% 
DAX 6,017.91 +302.82 +5.30% 
CAC 40 3,720.29 +327.70 +9.66% 

*Asia* 
Symbol...... Last...... .....Change.......
Nikkei 225 10,530.70 +166.11 +1.60% 
Hang Seng 20,426.64 +506.35 +2.54% 
Straits Times 2,880.48 +59.37 +2.10% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=6&asset=&ccode=

*Stocks surge on plan to ease European debt crunch

Stocks surge on global effort to ease European debt crunch; Dow industrials jump 405 points *

Tim Paradis, AP Business Writer, On Monday May 10, 2010, 5:41 pm 
NEW YORK (AP) -- Stocks rocketed to their biggest gain in a year and bond prices fell Monday after a nearly $1 trillion plan to contain Europe's debt crisis reassured investors.

The Dow Jones industrial average rose about 405 points to its biggest advance since March 2009. Broader U.S. indexes outpaced the Dow's 3.9 percent rise. Gains in several European markets topped 9 percent.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.54 percent from 3.43 percent late Friday. The drop in demand for safety holdings like Treasurys signaled that investors are less afraid that Europe's debt problems will endanger a global recovery.

The European Union and the International Monetary Fund agreed to create a nearly $1 trillion rescue fund to support European nations burdened by heavy debt. Analysts caution that countries like Greece will still need to make painful spending cuts in the coming years and that the debt problems won't disappear any time soon. Nonetheless, the size of Europe's response was far greater than most analysts had expected, and signaled that policymakers are ready to take significant measures to shore up the euro and keep Europe's debt woes from spreading.

"The market is breathing a huge sigh of relief that the EU has taken aggressive steps," said Alan Gayle, senior investment strategist at RidgeWorth Investments in Richmond, Va.

Investors drew reassurance after the Federal Reserve and other central banks stepped up with financial support to corral what analysts warned was a growing financial crisis.

The Fed restarted a program from 2008 to ship dollars overseas through the foreign central banks. Those central banks can then lend the dollars out to banks in their home countries. The Bank of England, the European Central Bank, the Bank of Canada, the Swiss National Bank and the Bank of Japan are also involved in the dollar-swap effort.

The advance in U.S. stocks was broad. Bank of America Corp., Caterpillar Inc. and General Electric Co. led the Dow with gains of more than 6 percent. All 30 stocks that make up the Dow ended higher for the first time since Nov. 5.

Markets around the world plummeted last week after fears grew that Greece's debt problems would spread to other struggling European economies like Spain, Portugal and Italy. The Dow slid 5.7 percent last week in its worst drop since the depths of the financial crisis in October 2008. On Thursday alone, the Dow was down nearly 1,000 points late in the day before recovering much of its losses.

Triple-digit Dow moves have again become the norm. The latest swings are reminders of the big swings that occurred during the credit crisis in late 2008 and early 2009.

The Dow rose 404.71, or 3.9 percent, to 10,785.14. At its peak, the Dow was up nearly 455 points. The climb came after four straight days of losses and was the biggest advance since March 2009, when the market was bouncing off its lowest levels in 12 years.

Even with its gain, the Dow is still below where it closed Wednesday last week. It is also down 420 points, or 3.8 percent, from its 2010 closing high of 11,205 on April 26.

The Standard & Poor's 500 index rose 48.85, or 4.4 percent, to 1,159.73. Like the Dow, it was the best day for the S&P 500 index since March 23, 2009.

The Nasdaq composite index rose 109.03, or 4.8 percent, to 2,374.67.

For much of 2010, major stock indexes had been climbing steadily on signs the U.S. economy was recovering. Last week's plunge had erased the market's gains for the year, but the jump on Monday put major indices back in the black for 2010.

Investors had feared that the euro, which is used by 16 countries, would continue to slide if Greece didn't get more help.

"Europe has unequivocally said, 'We will defend the euro's integrity,'" said Oliver Pursche, executive vice president at Gary Goldberg Financial Services in Suffern, N.Y.

A drop in the dollar boosted prices of commodities, which become more attractive to buyers outside the U.S. when the dollar is weak.

The Chicago Board Options Exchange's Volatility Index fell after spiking last week. The index, which is known as the market's fear gauge, last week jumped to about 41 from 20. That meant more investors were expecting big drops in the market. The VIX slid 30 percent Monday to about 29.

Charlie Smith, chief investment officer at Fort Pitt Capital Group in Pittsburgh, said the market's bounce reflects short-covering. That occurs when investors are forced to buy stock after having earlier sold borrowed shares in a bet that the market would fall. That rush to cover ill-timed bets can hasten the market's climb.

"You don't solve the problem of debt by printing new money," Smith said. "Whatever euphoric action we're seeing, there is going to be a need for EU banks to raise more capital."

As investors jump back into riskier assets like stocks on Monday, U.S. bond prices tumbled. The price of the 10-year note fell by about a point, or $1 per $100.

Gold also fell, losing $9.60 to $1,200.80 an ounce. Treasurys and gold surged late last week as investors piled into safe assets.

Crude oil rose $1.69 to $76.80 per barrel on the New York Mercantile Exchange.

Bank of America rose $1.12, or 6.9 percent, to $17.30, while Caterpillar rose $4.59, or 7.4 percent, to $66.69. GE rose $1.16, or 6.9 percent, to $18.04.

At the New York Stock Exchange, nearly 3,000 shares rose while only about 150 fell. Consolidated trading volume came to 7 billion shares compared with 9.5 billion Friday.

Britain's FTSE 100 rose 5.2 percent, Germany's DAX index rose 5.3 percent, and France's CAC-40 climbed 9.7 percent. In Greece, the main stock index rose 9.1 percent. Portugal's PSI 20 rose 10.7 percent. Japan's Nikkei stock average rose 1.6 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The stock market showed signs of stability Tuesday as major indexes held on to most of their rebound from last week's big drop.

The Dow Jones industrial average fell about 37 points after fluctuating for much of the day. Broader indicators were mixed.

Analysts said it was reassuring that the market kept most of its gains from Monday, when the Dow soared 405 points in response to the creation of a bailout fund for weak countries like Greece. Tuesday's trading signaled that the previous day's big move wasn't solely driven by euphoria.

*The NYSE DOW closed LOWER -36.88 points -0.3%  on Tuesday May 11*
Sym. Last......... ........Change.......... 
Dow Jones 10,748.26 -36.88 -0.3% 
Nasdaq 2,375.31 +0.64 +0.03%
S&P 500 1,155.79 -3.94 -0.34% 
30-Yr Bond 4.42% +0.12 

NYSE Volume 6,615,932,500   (prior day 7,959,239,000)
Nasdaq Volume 2,493,289,250  (prior day 2,869,847,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,334.21 -53.21 -0.99% 
DAX 6,037.71 +19.80 +0.33% 
CAC 40 3,693.20 -27.09 -0.73% 


*Asia* 
Symbol...... Last...... .....Change.......
Nikkei 225 	10,411.10 	-119.60 	-1.14%
Hang Seng 	20,146.51 	-280.13 	-1.37%
Straits Times 	2,857.67 	-22.81 	-0.79%

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks mostly hold gains after European bailout

Stocks maintain most gains after debt plan eases fears that Europe will derail global recovery *

Tim Paradis, AP Business Writer, On Tuesday May 11, 2010, 5:55 pm 

NEW YORK (AP) -- The stock market showed signs of stability Tuesday as major indexes held on to most of their rebound from last week's big drop.

The Dow Jones industrial average fell about 37 points after fluctuating for much of the day. Broader indicators were mixed.

Analysts said it was reassuring that the market kept most of its gains from Monday, when the Dow soared 405 points in response to the creation of a bailout fund for weak countries like Greece. Tuesday's trading signaled that the previous day's big move wasn't solely driven by euphoria.

"I'm very encouraged by the market action," said Keith Walter, portfolio manager of the Artio Global Equity Fund in New York. "I think today was a more important day than yesterday."

More bad news from Europe or elsewhere could always unravel the advance. Even with Monday's rise, stocks are only back to where they were about a week ago.

The easing of worries about Europe allowed traders to focus on the stronger economic picture in the U.S. The Commerce Department said wholesale inventories rose 0.4 percent in March. That was just short of economists' forecasts. But sales increased by more than double the expected amount, a sign that demand is improving.

Investors have been concerned that problems in weaker European countries would disrupt a global economic recovery.

"We've taken the panic out of the market," said Paul Zemsky, head of asset allocation at ING Investment Management in New York. "In the U.S. market the fundamentals are clearly good."

Zemsky also said last week's slide made it more likely that stocks would resume their climb. The bailout helped reassure investors that European countries would act decisively to protect the euro. However several weaker countries will still have to make deep spending cuts to rebuild confidence in the euro, which could slow a recovery in Europe's economy.

Asian markets retreated after a report showed inflation in China accelerated last month. China has already spooked markets by clamping down on bank lending to cool its economy, and investors worried that the inflation report could lead Chinese authorities to tap the brakes on its huge economy again. That could hurt U.S. and other companies that do business with China.

Global economic indicators, such as the U.S. government's monthly jobs report, have been overshadowed recently as investors feared debt problems in Greece would spread. Traders have also been concerned about how much European debt woes would hurt the euro, the currency used by 16 European countries.

The Dow fell 36.88, or 0.3 percent, to 10,748.26. The Dow dropped by as much as 100 points shortly after the opening bell and rose as much as 89 points in afternoon trading. The index has ended lower in five of the past six days.

The Standard & Poor's 500 index fell 3.94, or 0.3 percent, to 1,155.79, while the Nasdaq composite index rose 0.64, or less than 0.1 percent, to 2,375.31.

On Monday, major stock indexes recorded their biggest advance since March 2009. The Dow rose 3.9 percent, while the S&P 500 index surged 4.4 percent.

Treasury prices were little changed after plunging on Monday when investors dumped safe investments following news of the European bailout. The yield on the benchmark 10-year Treasury note, which moves opposite its price, edged down to 3.53 percent from 3.54 percent.

Crude oil fell 43 cents to $76.37 per barrel on the New York Mercantile Exchange.

The dollar rose against the euro after traders grew concerned about the fallout from the debt Europe could incur from financing the rescue plan. That uncertainty drove gold sharply higher.

Among stocks, Intel Corp. fell 27 cents, or 1.2 percent, to $22.28 after the chipmaker's CEO said that the company expects revenue and net income per share to increase by the low double digits in the news few years because of rising demand.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where consolidated volume came to 5.9 billion shares, compared with 7 billion Monday.

The Russell 2000 index of smaller companies rose 5.87, or 0.9 percent, to 695.48.

Britain's FTSE 100 fell 1 percent, Germany's DAX index rose 0.3 percent, and France's CAC-40 fell 0.7 percent. Japan's Nikkei stock average fell 1.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

A dose of good economic news sent stocks sharply higher Wednesday and erased the Dow Jones industrials' big plunge of last week.

The Dow rose 148 points to return to where it stood before Thursday's tumble that briefly took the average down nearly 1,000 points. The technology-dominated Nasdaq composite index led major indexes with a 2.1 percent gain. Investors moved into tech stocks ahead of earnings from network gear maker Cisco Systems Inc. and following an upbeat forecast from IBM Corp.

Analysts say the market's rebound from last week's drop reflects investors' growing confidence that Europe's debt problems are contained for now. Fears that losses on debt would spill over to the U.S. fed the market's plunge.

*The NYSE DOW closed HIGHER +148.65 points +1.38% on Wednesday May 12*
Sym. Last......... ........Change..........
Dow	10,896.91	+148.65	+1.38%
Nasdaq	2,425.02	+49.71	+2.09%
S&P 500	1,171.67	+15.88	+1.37%
30-yr Bond	4.47%	+0.51

NYSE Volume	5,918,238,000 (prior day  6,615,932,500)
Nasdaq Volume	2,308,334,750  (prior day 2,493,289,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100	5,383.45	+49.24	+0.92%
DAX	6,183.49	+145.78	+2.41%
CAC 40	3,733.87	+40.67	+1.10%

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 	10,394.03 	-17.07 	-0.16%
Hang Seng 	20,212.49 	+65.98 	+0.33%
Straits Times 	2,882.44 	+24.77 	+0.87%

http://finance.yahoo.com/news/Stocks-recover-from-recent-apf-255374208.html?x=0

*Stocks recover from recent slide over debt fears

Stock market bounces back from last week's slide over debt fears; Dow gains 149 points *

 Tim Paradis, AP Business Writer, On Wednesday May 12, 2010, 5:37 pm

NEW YORK (AP) -- A dose of good economic news sent stocks sharply higher Wednesday and erased the Dow Jones industrials' big plunge of last week.

The Dow rose 148 points to return to where it stood before Thursday's tumble that briefly took the average down nearly 1,000 points. The technology-dominated Nasdaq composite index led major indexes with a 2.1 percent gain. Investors moved into tech stocks ahead of earnings from network gear maker Cisco Systems Inc. and following an upbeat forecast from IBM Corp.

Analysts say the market's rebound from last week's drop reflects investors' growing confidence that Europe's debt problems are contained for now. Fears that losses on debt would spill over to the U.S. fed the market's plunge.

Economic reports from the U.S. and Europe helped reassure the market that the global recovery is intact. The Commerce Department said exports rose in March to their highest levels since 2008. That was a welcome signal for the manufacturing industry, which has been getting stronger since last year. Increased demand could eventually lead to more hiring.

Most European markets posted big gains after the German government reported that the continent's largest economy grew faster than expected in the first quarter. A round of spending cuts in Spain bolstered hopes that debt-strapped countries in Europe would take steps to slash costs. Stocks surged around the world Monday after European leaders agreed to a nearly $1 trillion bailout to contain fears of a debt crisis that pounded markets last week.

While stocks have rebounded, currency markets are still in flux. That signals that investors are still somewhat uneasy after last week's slide. The euro edged higher against the dollar Wednesday but is still hovering near a 14-month low.

Uncertainty over the long-term health of the euro helped lift gold to a record high. Investors worry that the euro could still lose value as European countries try to work though debt problems by taking on more debt. Investors have turned to gold as an alternative to holding currencies.

Gold settled up $22.80 at $1,243.10 an ounce after hitting a record high of $1,247.70. That lifted shares of gold producers Freeport-McMoRan Copper & Gold Inc. and Newmont Mining Corp.

Max Bublitz, chief strategist at SCM Advisors in San Francisco, said the swings of the past few weeks spooked investors who had become overconfident. Now, the focus can return to the U.S. economy. Expectations of a recovery have driven the market higher since major stocks indexes hit 12-year lows in March last year. The market made steady gains from February-April before concerns about Greece briefly erased stocks' gains for the year.

"We got a lot of the bullishness and complacency out of the market," he said. "As long as we have doubters out there, then I'm a lot more comfortable saying the trend that's been in place the last 14 months stays there."

The Dow rose 148.65, or 1.4 percent, to 10,896.91. The Dow stands at its highest level since May 4. The Dow is up 5 percent in three days, its best gain since July.

The Standard & Poor's 500 index rose 15.88, or 1.4 percent, to 1,171.67, while the Nasdaq rose 49.71, or 2.1 percent, to 2,425.02. The index has gained 5.5 percent in three days, its best showing since July.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year note rose to 3.58 percent from 3.53 percent late Tuesday.

Crude oil fell 72 cents to $75.65 per barrel on the New York Mercantile Exchange after the International Energy Agency said global oil demand is expected to rise less than previously expected in 2010.

Alan Lancz, money manager at Alan B. Lancz & Associates in Toledo, Ohio, said the market's advance is warranted after the slide last week.

"It took a little of the frothiness off and brought rationality back to the market," he said. Lancz warned, however, that the market will have to slow to avoid getting overheated again.

The Commerce Department said that the nation's trade deficit rose to a 15-month high in March as higher oil prices drove up import costs. Exports rose 3.2 percent.

The report was a reminder that the economy is strengthening.

"Being able to step back and take a breath sometimes gives you a renewed view as to how things truly are," said Daniel Penrod, senior industry analyst for the California Credit Union League in Ontario, California.

Tech stocks led the market higher. Cisco rose 78 cents, or 3 percent, to $26.74 ahead of its report, which was released after the end of regular trading. The company said its net income for the latest quarter rose 63 percent from a year earlier. The stock fell 3 percent in after-hours trading.

IBM predicted it would earn at least $20 per share by 2015 on increased spending by companies on technology. The stock rose $5.79, or 4.6 percent, to $132.68.

Morgan Stanley fell after The Wall Street Journal reported that the investment bank is facing an investigation into its dealings in mortgage securities. The stock fell 58 cents, or 2 percent, to $27.80.

A Morgan Stanley spokesman said the bank hasn't been contacted by the Justice Department about the deals in question and that he isn't aware of an investigation.

Freeport-McMoRan rose $2.76, or 3.9 percent, to $73, while Newmont Mining rose 51 cents, or 0.9 percent, to $58.71.

About six stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.3 billion shares, compared with 1.5 billion Tuesday.

The Russell 2000 index of smaller companies rose 20.63, or 3 percent, to 716.11.

Germany's DAX index jumped 2.4 percent after the government report on economic growth. Britain's FTSE 100 climbed 0.9 percent and France's CAC-40 rose 1.1 percent. Japan's Nikkei stock average fell 0.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com

A late-day slide left stocks lower Thursday following a disappointing forecast from department store chain Kohl's and a drop in financial shares.

The Dow Jones industrial average ended down about 114 points after shooting up by nearly 149 on Wednesday. The Dow has fallen six of the past eight days.

Stocks mostly made modest moves for much of Thursday's trading but fell in the final hour as the euro weakened. The drop in stocks signaled that traders remain skittish about the direction of the market after weeks of big swings.

*The NYSE DOW closed LOWER -113.96 points -1.05% on Thursday May 13*
Sym. Last......... ........Change..........
Dow 10,782.95 -113.96 -1.05% 
Nasdaq 2,394.36 -30.66 -1.26% 
S&P 500 1,157.43 -14.24 -1.22% 
30-yr Bond 4.4610% -0.1200 

NYSE Volume 5,477,719,500  (prior day 5,918,238,000)
Nasdaq Volume 2,321,865,000  (prior day 2,308,334,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,433.73 +50.28 +0.93% 
DAX 6,251.97 +68.48 +1.11% 
CAC 40 3,731.54 -2.33 -0.06% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,620.55 +226.52 +2.18% 
Hang Seng 20,422.46 +209.97 +1.04% 
Straits Times 2,867.24 -13.09 -0.45% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks fall after drop in retail, financial shares

Stocks slide in late trading after shares of retailers, financials slump; Dow falls 114 *

Tim Paradis, AP Business Writers, On Thursday May 13, 2010, 5:48 pm 

NEW YORK (AP) -- A late-day slide left stocks lower Thursday following a disappointing forecast from department store chain Kohl's and a drop in financial shares.

The Dow Jones industrial average ended down about 114 points after shooting up by nearly 149 on Wednesday. The Dow has fallen six of the past eight days.

Stocks mostly made modest moves for much of Thursday's trading but fell in the final hour as the euro weakened. The drop in stocks signaled that traders remain skittish about the direction of the market after weeks of big swings.

"It seems like the market is trying to find its footing," said Adam Gould, senior portfolio manager at Direxion Funds in New York.

Disappointing corporate and economic news dented sentiment. Kohl's Corp. fell 5.8 percent and dragged other consumer stocks lower after its increased forecasts fell short of what analysts had been expecting.

Bank stocks fell on reports that New York's attorney general is examining eight banks to determine whether they misled ratings agencies about mortgage securities.

Tech shares also got hit after investors saw a forecast from computer networking equipment Cisco Systems Inc. as cautious. The stock fell 4.5 percent to post the steepest drop among the 30 stocks that make up the Dow.

The Dow fell 113.96, or 1.1 percent, to 10,782.95. The Standard & Poor's 500 index fell 14.23, or 1.2 percent, to 1,157.44, while the Nasdaq composite index fell 30.66, or 1.3 percent, to 2,394.36.

Two stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.2 billion shares, compared with 1.3 billion Wednesday.

Volume has been decreasing this week since stocks jumped on Monday on relief over Europe's nearly $1 trillion plan help debt-strapped governments in the European Union. Some analysts say that the drop in volume is a sign of flagging confidence in the market's moves.

Stocks rose Wednesday after a Commerce Department report said exports rose in March to their highest levels since late 2008.

Bond prices rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.57 percent from 3.58 percent late Wednesday.

Gold fell, a day after setting a record high.

Crude oil fell $1.25 to $75.40 per barrel on the New York Mercantile Exchange.

The drop in stocks late in the day came as the euro fell. The 16-nation currency is just above a 14-month low. Investors remain unsure whether countries like Greece and Spain that are saddled with debt will be able to cut spending and still manage to grow.

The euro has been dropping since Monday on diminishing expectations for an economic recovery in Europe.

"The currency market is saying that the stock market rebound won't be sustained," said Brian Dolan, chief currency strategist at Forex.com.

Meanwhile, an economic report signaled that gains in the job market are proceeding slowly. The Labor Department said first-time claims for jobless benefits dipped to 444,000 last week from an upwardly revised 448,000 the previous week. Economists had expected claims to drop to 440,000.

While a fourth straight weekly decline in claims is a welcome sign, it hasn't been enough to signal sustainable job growth. Economists estimate weekly initial claims need to fall below 425,000 to show employers are consistently adding workers. Claims have stalled around the 450,000 level throughout the year.

Unemployment remains a major obstacle to a strong recovery. The unemployment rate jumped to 9.9 percent last month, although employers added 290,000 jobs. Investors want to see consistent job creation as well as regular declines in claims for jobless benefits before becoming confident that the labor market is healing.

Kohl's fell $3.34, or 5.8 percent, to $53.81.

Among bank stocks, Citigroup Inc. fell 9 cents, or 2.2 percent, to $4.09, while Bank of America Corp. fell 20 cents, or 1.2 percent, to $16.87.

The Russell 2000 index of smaller companies fell 6.26, or 0.9 percent, to 709.85.

Britain's FTSE 100 rose 0.9 percent, Germany's DAX index rose 1.1 percent, and France's CAC-40 slipped 0.1 percent. Japan's Nikkei stock average rose 2.2 percent following Wednesday's big gains in the U.S.


----------



## bigdog

Source: http://finance.yahoo.com

The market ended off its lows but it was still a wild week for investors. After jumping 405 points on Monday, the Dow slipped Tuesday and jumped 149 points on Wednesday. The gains helped the Dow erase its losses from late in the prior week when fears about debt woes in Greece pounded the market.

Selling resumed Thursday to send the Dow down about 114 points after more worries emerged about the cost of the Euroepan rescue.

For the week, the Dow rose 2.3 percent, the S&P 500 index added 2.2 percent and the Nasdaq gained 3.6 percent.

Stocks fall on worries European bailout will slow recovery; Dow falls 163 but ends week higher 

Stocks tumbled for a second day Friday after concerns grew that the deep spending cuts under Europe's bailout plan would slow a global recovery.

The Dow Jones industrial average ended down 163 points but closed well off its lows of the day. The Dow and other major stock indexes still posted big gains for the week after rocketing higher Monday on hopes that a bailout plan for Europe would prevent a debt crisis in Greece from spreading.

The latest drop followed a slide of more than 3 percent in European markets. The euro dropped to a 19-month low against the dollar.

*The NYSE DOW closed LOWER -162.79 points -1.51% on Friday May 14*
Sym. Last......... ........Change..........
Dow 10,620.16 -162.79 -1.51% 
Nasdaq 2,346.85 -47.51 -1.98% 
S&P 500 1,135.68 -21.75 -1.88% 
30-yr Bond 4.3160% -1.4500 

NYSE Volume 6,907,171,000  (prior day 5,477,719,500)
Nasdaq Volume 2,604,644,750  (prior day 2,321,865,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,262.85 -170.88 -3.14% 
DAX 6,056.71 -195.26 -3.12% 
CAC 40 3,560.36 -171.18 -4.59% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,462.51 -158.04 -1.49% 
Hang Seng 20,145.43 -277.03 -1.36% 
Sraits Times 2,855.21 -12.71 -0.44% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks tumble as worries about Europe return

Stocks fall on worries European bailout will slow recovery; Dow falls 163 but ends week higher *

Stephen Bernard and Ieva M. Augstums, AP Business Writers, On Friday May 14, 2010, 4:48 pm EDT 
NEW YORK (AP) -- Stocks tumbled for a second day Friday after concerns grew that the deep spending cuts under Europe's bailout plan would slow a global recovery.

The Dow Jones industrial average ended down 163 points but closed well off its lows of the day. The Dow and other major stock indexes still posted big gains for the week after rocketing higher Monday on hopes that a bailout plan for Europe would prevent a debt crisis in Greece from spreading.

The latest drop followed a slide of more than 3 percent in European markets. The euro dropped to a 19-month low against the dollar.

Investors seeking safety piled into Treasurys and the dollar. Gold settled lower after hitting another record. Crude oil sank nearly 4 percent, and an indicator of stock market volatility jumped.

Currency traders have been moving out of the euro throughout the week because of concerns that cost-cutting measures in countries like Greece, Spain and Portugal would slow economic activity on the continent and elsewhere. Now stock investors are also looking at those same problems.

Shifting sentiment about the problems in Europe whipsawed the market during the week. Major indexes posted their biggest gains in more than a year on Monday after a nearly $1 trillion rescue package from the European Union and International Monetary Fund raised hopes that debt-strapped EU countries wouldn't be a drag on a global rebound.

But the glow from the bailout package faded during the week, pushing the euro down sharply against the dollar. The spike in the dollar hit the prices for oil and other commodities, hurting major U.S. energy and materials companies.

"Clearly the action in the euro is reflecting the fact that at least currency investors don't think the bailout plan plus the austerity measures are sufficient," said Uri Landesman, president of Platinum Partners in New York. "The euro is leading the market down."

Investors now worry that the spending cuts in Europe being called for in the bailout package will curtail the ability of weaker countries like Spain and Portugal to grow their way out of a recession. More strikes are expected in Spain and Greece as workers protest cuts in pensions and other public spending.

The euro, which is used by 16 countries, slid as low as $1.2359 in New York, its weakest point since October 2008. The euro has dropped more than 6 percent since the beginning of the month and is close to its lowest level in four years.

There were also concerns Friday about corporate profits. Shares of credit card companies tumbled after the Senate voted to force them to reduce fees for debit card transactions. Visa fell 9.9 percent, while Mastercard lost 8.6 percent.

According to preliminary calculations, the Dow fell 162.79, or 1.5 percent, to 10,620.16. The Dow had been down nearly 246 points. It has fallen seven of the last nine days.

The Standard & Poor's 500 index lost 21.76, or 1.9 percent, to 1,135.68, while the Nasdaq composite index fell 47.51, or 2 percent, to 2,346.85.

Stocks ended off their worst levels perhaps in part becuase traders aren't sure what leaders in Europe might do over the weekend to shore up confidence in the euro and the EU over all.

The market ended off its lows but it was still a wild week for investors. After jumping 405 points on Monday, the Dow slipped Tuesday and jumped 149 points on Wednesday. The gains helped the Dow erase its losses from late in the prior week when fears about debt woes in Greece pounded the market.

Selling resumed Thursday to send the Dow down about 114 points after more worries emerged about the cost of the Euroepan rescue.

For the week, the Dow rose 2.3 percent, the S&P 500 index added 2.2 percent and the Nasdaq gained 3.6 percent.

Treasurys jumped Friday, pushing down yields. The yield on the benchmark 10-year Treasury note fell to 3.43 percent from 3.53 percent late Thursday.

The Chicago Board Options Exchange's Volatility Index -- known as the market's fear gauge, jumped 17.1 percent.

Gold hit a record of $1,249.70 an ounce before settling down $1.40 to $1,227.80.

Crude oil fell $2.79 to $71.61 per barrel on the New York Mercantile Exchange.

Investors on Friday looked past improved reports on April retail sales and industrial production.

The Commerce Department said sales rose 0.4 percent in April. That was double the forecast by economists polled by Thomson Reuters. It was the seventh straight monthly rise in sales, providing hope that a consumer rebound will hold and help the economy grow.

The Federal Reserve said industrial production rose 0.8 percent in April, better than the 0.6 percent growth forecast by economists. It was the biggest jump in output from the nation's factories, mines and utilities since January.

Manufacturing growth has been steady in recent months as the sector plays a leading role in the domestic recovery.

Among stocks, Visa Inc. fell $8.47 to $77.26 and Mastercard Inc. fell $19.86 to $212.45 after the Senate vote to curb fees on debit cards.

About seven stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.5 billion shares compared with 1.2 billion Thursday.

The Russell 200 index of smaller companies lost 15.87, or 2.2 percent, to 693.98.

Britain's FTSE 100 dropped 3.1 percent, Germany's DAX index fell 3.1 percent, and France's CAC-40 tumbled 4.6 percent.

9388


----------



## bigdog

Source: http://finance.yahoo.com

Stocks had another wild day, but there was no big event, no surprise announcement behind the swings.

All that happened was that the euro, battered to a four-year low Monday before trading began in the U.S., started rising again. And the stock market followed the currency shared by 16 European nations.

Shortly after noon Eastern time, the Dow Jones industrials were down 184 points. It looked like they would add to the pile of triple-digit losses they've suffered over the past two weeks as investors worried that Europe's economic problems would spread to the U.S.

But the euro, which seesawed after earlier falling to $1.2237, finally started its move higher -- a bumpy move, but an upward one nonetheless. The Dow also racheted higher, finally ending with an almost six-point advance.

In China, the benchmark index in Shanghai fell 5.1 percent to a one-year low on concern that the government will curb lending to slow the economy. 

*The NYSE DOW closed HIGHER +5.67 points +0.05% on Monday May 17*
Sym. Last......... ........Change..........
Dow 10,625.83 +5.67 +0.05% 
Nasdaq 2,354.23 +7.38 +0.31% 
S&P 500 1,136.94 +1.26 +0.11% 
30-yr Bond 4.3450% +0.2900 

NYSE Volume 6,791,527,000  (prior day 6,907,171,000)
Nasdaq Volume 2,414,770,250  (prior day 2,604,644,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,262.54 -0.31 -0.01% 
DAX 6,066.92 +10.21 +0.17% 
CAC 40 3,543.55 -16.81 -0.47% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,235.76 -226.75 -2.17% 
Hang Seng 19,715.20 -430.23 -2.14% 
Straits Times 2,833.69 -21.52 -0.75% 


http://finance.yahoo.com/news/Dow-recovers-from-184point-apf-2049575746.html?x=0

*Dow recovers from 184-point drop to edge higher

Stocks end little changed after investors track gyrations of euro; Dow posts gain of 6 points *

Tim Paradis, AP Business Writer, On Monday May 17, 2010, 5:48 pm 
NEW YORK (AP) -- Stocks had another wild day, but there was no big event, no surprise announcement behind the swings.

All that happened was that the euro, battered to a four-year low Monday before trading began in the U.S., started rising again. And the stock market followed the currency shared by 16 European nations.

Shortly after noon Eastern time, the Dow Jones industrials were down 184 points. It looked like they would add to the pile of triple-digit losses they've suffered over the past two weeks as investors worried that Europe's economic problems would spread to the U.S.

But the euro, which seesawed after earlier falling to $1.2237, finally started its move higher -- a bumpy move, but an upward one nonetheless. The Dow also racheted higher, finally ending with an almost six-point advance.

Investors are looking at the euro as an indicator of confidence in the European economies. The euro has been sliding on concerns that debt problems will undermine Europe's recovery, and in turn that of the U.S. And so, when it started rising Monday, stock traders interpreted its move as a "buy" sign.

But given stocks' erratic moves over the past few weeks, it's likely that there will be more days like Monday ahead. Traders still have many unanswered questions about how Europe will pull itself from its financial mess without hurting its recovery. Because economies around the world are dependent on one another, the broader concern is that Europe's problems will halt a rebound elsewhere.

Other investments seen as risky had a rough time Monday. Oil traded below $70 a barrel for the first time since February but finished above that psychological benchmark. Oil is priced in dollars so a stronger dollar discourages investors from buying oil. Crude fell $1.45 to $70.16 per barrel on the New York Mercantile Exchange.

Energy stocks, which make up about 10 percent of the Standard & Poor's 500 index, dropped after oil fell. Shares of consumer staples companies, which are seen as safer bets in weak economies, rose.

Peabody Energy Corp. fell 5.3 percent. Procter & Gamble Co., which makes Tide detergent and Gillette razors, rose 1.3 percent.

Investors are questioning whether steep budget cuts in countries including Greece, Spain and Portugal will hinder an economic recovery in Europe and in turn, the U.S. The fear is that the world banking system could see a replay of the losses that hobbled financial institutions in late 2008.

The austerity measures are required under a nearly $1 trillion bailout program the European Union and International Monetary Fund agreed to last week. The rescue package provides access to cheap loans for European countries facing mounting debt problems.

Traders are betting that U.S. export growth will continue to slow as Europeans, unnerved by problems at home, show less of an appetite to buy American goods. And if Americans get nervous and spend less on imports that could further curtail the global recovery.

"We need to quantify how much Europe can hurt us," said Philip Dow, managing director of equity strategy at RBC Dain Rauscher in Minneapolis. He said it could take a month or two before investors have a better sense of whether the debt problems in Europe will spread.

The Dow rose 5.67, or 0.1 percent, to 10,625.83. The Standard & Poor's 500 index rose 1.26, or 0.1 percent, to 1,136.94, while the Nasdaq composite index rose 7.38, or 0.3 percent, to 2,354.23.

Three stocks fell for every two that rose on the New York Stock Exchange, where volume came to 1.4 billion shares, compared with 1.5 billion Friday.

Bond prices fell after steep gains last week. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.50 percent from 3.46 percent late Friday.

Gold fell 50 cents to $1,227.30 an ounce.

Europe's debt crisis poses risks to the U.S. financial system because it could make loans even harder to come by in the United States and push up the rates on them. European banks own bonds of overextended governments at the heart of the crisis. And, there are fears that those banks could suffer heavy losses -- or worse, collapse -- if they aren't repaid. If that happens, U.S. banks that lend to those European banks would suffer losses, too. That would make U.S. banks cut back on lending, which would hurt the economic recovery.

Fears about such losses makes lending more risky. That's prompting banks and other investors to demand a higher return when they lend to one another -- as well as to some businesses and people -- on a short-term basis. That's why an interest rate called the LIBOR is rising. That rate is used to peg many adjustable rate mortgages and business loans in the United States.

Analysts say that even a loss in confidence could make it harder for the U.S. economy to bounce back.

"In all likelihood our recovery is going to continue but it will be at a slower pace than we imagined a month ago," said Howard Ward, chief investment officer of the GAMCO Growth Fund.

A forecast from home-improvement retailer Lowe's Cos. hurt sentiment. The stock fell 81 cents, or 3.1 percent, to $25.26.

Peabody Energy fell $2.20 to $39.61, while Procter & Gamble rose 84 cents to $63.38.

The Russell 2000 index of smaller companies rose 1.73, or 0.3 percent, to 695.71.

Britain's FTSE 100 fell 0.1 percent, Germany's DAX index gained 0.1 percent, and France's CAC-40 fell 0.5 percent. Japan's Nikkei stock average fell 2.2 percent.

In China, the benchmark index in Shanghai fell 5.1 percent to a one-year low on concern that the government will curb lending to slow the economy. There also was concern about the problems in Europe.


----------



## bigdog

Source: http://finance.yahoo.com

Stock slide after euro falls to new four-year low; Germany plan to limit trading hits currency 

Investors uneasy about the news coming out of Europe Tuesday went back to selling stocks sharply lower. The falling euro and news that German regulators plan to limit some kinds of short selling fed the drop.

The Dow Jones industrial average closed down almost 115 points after giving up an early gain of 93. The Dow and broader indexes lost more than 1 percent.

The euro gave stocks a boost early in the day when European Union countries sent bailout money to Greece. The move raised confidence about Europe's ability to prevent its debt crisis from spreading to other economies including the U.S. 

*The NYSE DOW closed LOWER -114.88 points -1.08% on Tuesday May 18*
Sym. Last......... ........Change..........
Dow 10,510.95 -114.88 -1.08% 
Nasdaq 2,317.26 -36.97 -1.57% 
S&P 500 1,120.80 -16.14 -1.42% 
30-yr Bond 4.2540% -0.9100 

NYSE Volume 7,114,171,500  (prior day 6,791,527,000)
Nasdaq Volume 2,428,810,250  (prior day 2,414,770,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,307.34 +44.80 +0.85% 
DAX 6,155.93 +89.01 +1.47% 
CAC 40 3,617.32 +73.77 +2.08% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,242.64 +6.88 +0.07% 
Hang Seng 19,944.94 +229.74 +1.17% 
Straits Times 2,844.35 +10.66 +0.38% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks slide after euro falls to new 4-year low

Stock slide after euro falls to new four-year low; Germany plan to limit trading hits currency *

Tim Paradis, AP Business Writer, On Tuesday May 18, 2010, 6:01 pm 

NEW YORK (AP) -- Investors uneasy about the news coming out of Europe Tuesday went back to selling stocks sharply lower. The falling euro and news that German regulators plan to limit some kinds of short selling fed the drop.

The Dow Jones industrial average closed down almost 115 points after giving up an early gain of 93. The Dow and broader indexes lost more than 1 percent.

The euro gave stocks a boost early in the day when European Union countries sent bailout money to Greece. The move raised confidence about Europe's ability to prevent its debt crisis from spreading to other economies including the U.S.

By afternoon, though, the upbeat mood faded and the euro fell. That sapped the stock market's strength. Treasury prices rose after demand for safer investments increased.

The euro, the currency shared by 16 European nations, has been driving stock trading for weeks as investors interpreted its slide as a sign of continuing economic problems in Europe. It hit a new four-year low of $1.2160 on Tuesday.

Meanwhile, Germany said it is banning "naked" short selling, which occurs when traders bet on a stock or investment that they doesn't own. The ban covers government debt certificates and shares of several financial companies. The government said it was imposing the rule in hopes of keeping the financial markets stable.

Investors anxious about Europe's problems were further rattled by Germany's move. Naked short selling was cited as one of the factors in world markets' turbulence during the 2008 financial crisis. The latest step brought reminders of the desperation that U.S. regulators signaled in trying to stabilize the market and underscored a fear that a further drop in the euro will continue to pound world markets.

"If Europe really slows, the threat would be that it could take down the rest of the global economy," said Bruce McCain, chief investment strategist at Key Private Bank in Cleveland. He noted, however, that most economic numbers don't suggest that a recovery is stalling.

McCain said long-term investors should gather more evidence before making big changes to their portfolios.

"The markets tend to move in excesses of optimism and pessimism," he said.

The Dow fell 114.88, or 1.1 percent, to 10,510.95. It has fallen three of the past four days.

The Standard & Poor's 500 index fell 16.14, or 1.4 percent, to 1,120.80, while the Nasdaq composite index fell 36.97, or 1.6 percent, to 2,317.26.

Major stock indexes are down about 8 percent from their 2010 highs in late April. That puts the market close to the threshold for a correction, which is usually defined as a drop of 10 percent to 20 percent.

Bond prices jumped, driving yields lower. The yield on the benchmark 10-year Treasury note fell to 3.35 percent from 3.50 percent late Monday.

Stock trading has been volatile for weeks. The Dow rebounded from a drop of 184 points to end Monday with a gain of about 6 points after the euro strengthened.

Mike Shea, managing partner at Direct Access Partners LLC in New York, said that with so many unanswered questions about the ballooning debts in Europe it isn't surprising to see traders selling.

"There is a prudent reduction of risk," Shea said.

The concerns about the ban on naked short-selling hit large banks, a sign that traders are uneasy about the possible chilling effect that Germany's moves might have on the markets and in turn, financial companies. Traders are also watching the financial overhaul bill making its way through the Senate. Debate could end as soon as Wednesday. Some traders are concerned that tighter rules will hurt bank profits.

Wells Fargo & Co. fell $1.38, or 4.3 percent, to $30.59, while Citigroup Inc. fell 13 cents, or 3.4 percent, to $3.73.

Gold fell $13.50 to $1,214.60 an ounce, while crude oil fell 54 cents to settle at $69.41 per barrel on the New York Mercantile Exchange.

While so much attention has focused on Europe in recent weeks, investors have largely ignored signs of economic growth. Stocks had been posting solid gains earlier in the year on steady signs of improvement in the U.S. economy. Encouraging signals on the economy gave early support to stocks Tuesday. The Commerce Department said home construction jumped 5.8 percent in April, more than expected and the strongest level since late in 2008.

John Merrill, chief investment officer at Tanglewood Wealth Management in Houston, said investors are doing some mental juggling. They see signs that the U.S. economy is strengthening but still have concerns that Europe's problems will undermine the global economy's rebound.

"There are just two alternative themes and it just depends on where the focus is," he said.

Wal-Mart Stores Inc. was the sole stock among the 30 that make up the Dow Jones industrials to rise. The world's largest retailer posted better-than-expected earnings. Investors also look to companies that sell consumer staples as a safe investment in weak economies. The stock rose 98 cents, or 1.9 percent, to $53.71.

More than three stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 6.2 billion shares, compared with 5.9 billion Monday.

The Russell 2000 index of smaller companies fell 12.96, or 1.9 percent, to 682.75.

Britain's FTSE 100 index rose 0.9 percent, Germany's DAX index gained 1.5 percent, and France's CAC-40 rose 2.1 percent. Japan's Nikkei stock average rose 0.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks stumble after investors look past rising euro to unanswered questions about Europe debt

Another wave of selling hit stocks Wednesday in response to growing fears that Europe has no quick fix for its debt crisis.

The Dow Jones industrial average fell about 67 points after having been down as much as 186. It was the Dow's ninth drop in 12 days.

The extent of investors' worries became clear after the euro bounced off a four-year low but stocks still fell. The euro has been driving stock trading for weeks.

The Standard & Poor's 500 index, widely considered one of the best measures of how the stock market is doing, neared a 10 percent drop from the 2010 trading high it reached last month. That would mark the first time the market has had what's known as a "correction" since it bounced off a 12-year low in March last year. Most analysts say a correction is a drop of at least 10 percent.

*The NYSE DOW closed LOWER -66.58 points  -0.63% on Wednesday May 19*
Sym. Last......... ........Change..........
Dow 10,444.37 -66.58 -0.63% 
Nasdaq 2,298.37 -18.89 -0.82% 
S&P 500 1,115.05 -5.75 -0.51% 
30-yr Bond 4.2370% -0.1700 

NYSE Volume 7,835,684,500  (prior day 7,114,171,500)
Nasdaq Volume 2,588,426,750  (prior day 2,428,810,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,173.18 -134.16 -2.53% 
DAX 5,993.21 -162.72 -2.64% 
CAC 40 3,526.80 -90.52 -2.50% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,186.84 -55.80 -0.54% 
Hang Seng 19,578.98 -365.96 -1.83% 
Straits Times 2,776.00 -68.35 -2.40% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks slump after investors focus on Europe woes

Stocks stumble after investors look past rising euro to unanswered questions about Europe debt *

Stephen Bernard and Tim Paradis, AP Business Writers, On Wednesday May 19, 2010, 6:19 pm 

NEW YORK (AP) -- Another wave of selling hit stocks Wednesday in response to growing fears that Europe has no quick fix for its debt crisis.

The Dow Jones industrial average fell about 67 points after having been down as much as 186. It was the Dow's ninth drop in 12 days.

The extent of investors' worries became clear after the euro bounced off a four-year low but stocks still fell. The euro has been driving stock trading for weeks.

The Standard & Poor's 500 index, widely considered one of the best measures of how the stock market is doing, neared a 10 percent drop from the 2010 trading high it reached last month. That would mark the first time the market has had what's known as a "correction" since it bounced off a 12-year low in March last year. Most analysts say a correction is a drop of at least 10 percent.

The latest worry came from Germany, where regulators banned what's called naked short selling. That occurs when traders bet against investments they don't hold. The rule covers European government bonds, credit default swaps and the shares of several financial companies.

The sudden announcement late Tuesday from Germany's financial regulator was seen in the markets as another example of disarray in Europe's financial system. Analysts said the hasty move only deepened the uncertainty about what steps governments might take next in hopes of containing the selling. Major European stock markets tumbled nearly 3 percent.

Maury Fertig, chief investment officer at Relative Value Partners, in Northbrook, Ill., said memories of the market's crash in late 2008 and early 2009 are still raw and that traders don't want to be caught when stocks start to slide.

"It's shoot first, ask questions later," Fertig said. "The freshness of the pain of 2008 is still really stuck in investors' minds."

Germany enacted the short-selling rule in hopes of curtailing sudden swings in European debt markets, like the ones that crippled Greece's ability to borrow money after the rates on its bonds shot higher earlier this year.

European leaders agreed last week to a nearly $1 trillion bailout program to help countries like Greece that face mounting debt problems. The deal was initially embraced by financial markets, but traders quickly became worried that the austerity measures tied to the rescue package would upend a rebound.

"People are still just very concerned about what's going on overseas," said Sam Stovall, chief investment strategist in U.S. equity research at Standard & Poor's in New York.

The Dow fell 66.58, or 0.6 percent, to 10,444.37 after dropping 115 on Tuesday.

The S&P 500 index fell 5.75, or 0.5 percent, to 1,115.05. At its low Wednesday, the index was down 9.8 percent from its 2010 trading high. Based on where it closed Wednesday, the S&P 500 index is down 8.4 percent from its peak this year. Analysts at S&P who have evaluated the events driving the market this year say that a drop of as much 15 percent is possible.

The Nasdaq composite index fell 18.89, or 0.8 percent, to 2,298.37.

Bond prices slipped, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.37 percent from 3.35 percent late Tuesday. Bond yields have been falling in recent weeks as investors flock to safe investments.

Crude oil rose 46 cents to $69.87 per barrel on the New York Mercantile Exchange. Gold fell.

U.S. investors haven't been focusing on the U.S. economy but given the downbeat mood on Wall Street downbeat news drew some attention.

The Mortgage Bankers Association reported that the number of homeowners who missed at least one payment on their mortgage rose to a record in the first quarter. That signaled that foreclosures could rise and suggested that troubles in the U.S. housing sector are far from over.

Minutes from the Federal Reserve's late April meeting indicated that policymakers were more upbeat about the prospects of the U.S. economy than they were at the start of the year. The forecast that was updated for last month's meeting was that the economy can grow by 3.2 percent to 3.7 percent this year. That's stronger than in January when the Fed predicted growth of 2.8 percent to 3.5 percent.

The Fed's take on the economy, however, came before the stock market started tumbling this month on concerns about debt in Europe.

Michael Church, president at Addison Capital Group in Philadelphia, said stocks were overdue for a break and that while the concerns about Europe are real, the slide in stocks could turn out to be little more than a correction.

"The risk is that this does derail things but I'm not convinced that that's reality yet," he said. Church contends that stocks will push higher again if it becomes clear that the debt problems in Europe can be contained, at least for now.

About four stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 6.8 billion shares, compared with 6.2 billion Tuesday.

The Russell 2000 index of smaller companies fell 8.35, or 1.2 percent, to 674.40.

Britain's FTSE 100 dropped 2.8 percent, Germany's DAX index fell 2.7 percent, and France's CAC-40 dropped 2.9 percent. Japan's Nikkei stock average fell 0.5 percent.


----------



## explod

Hope you dont' mind my little but into your thread Bigdog, but could not but smile at Chuck Butlers explanation of the new circuit breakers to stop huge gyrations on markets following the fall of the Dow some weeks back:-



> Then there was this... Did you know that the it wasn't just the Eurozone announcing measures to stop "destructive markets"? The U.S. was at it too, but that didn't get in the way of dollar buying... The Securities and Exchange Commission announced new measures Tuesday to avoid a repeat of the dramatic market swoon earlier this month, saying trading should be halted in any stock if its value dives more than 10 percent in 5 minutes. The new measures were taken because existing circuit breakers were outdated and didn't work on May 6, when the Dow Jones Industrial Average fell 1,000 points in minutes.
> 
> Good luck with that... I think those new circuit breakers are going to get tested quite often very soon...




link:-   http://www.dailypfennig.com/

cheers explod


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## bigdog

Source: http://finance.yahoo.com

Stocks plunged again Thursday as more investors woke up to the possibility that economic problems such as Europe's debt crisis might spread around the world and stop the growing recovery in the U.S.

The Dow Jones industrial average fell 376 points, its biggest one-day point drop since February 2009, and all the major indexes were down well over 3 percent. Meanwhile, interest rates fell sharply in the Treasury market as investors once again sought the safety of U.S. government debt.

With Thursday's drop, the Standard & Poor's 500 index, considered the best indicator of the stock market's performance, is down almost 12 percent from its 2010 high close of 1,217.28, reached April 23. That means the market is officially in what's called a correction, a drop of 10 percent or more from a recent high. This is the first correction since stock indexes hit 12-year lows in March last year. The fact it has occurred in just 19 trading days shows how anxious traders are right now.

*The NYSE DOW closed LOWER -376.36  points -3.60% on Thursday May 20*
Sym. Last......... ........Change..........
Dow 10,068.01 -376.36 -3.60% 
Nasdaq 2,204.01 -94.36 -4.11% 
S&P 500 1,071.59 -43.46 -3.90% 
30-yr Bond 4.1350% -1.0200 

NYSE Volume 9,682,053,000  (prior day 7,835,684,500)
Nasdaq Volume 3,371,783,750  (prior day 2,588,426,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,073.13 -84.95 -1.65% 
DAX 5,867.88 -120.79 -2.02% 
CAC 40 3,432.52 -79.15 -2.25% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,030.31 -156.53 -1.54% 
Hang Seng 19,545.83 -33.15 -0.17% 
Straits Times 2,753.51 -21.03 -0.76% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks dive, Dow off 376 on world economic worries*

Tim Paradis and Stevenson Jacobs, AP Business Writers, On Thursday May 20, 2010, 5:28 pm 

NEW YORK (AP) -- Stocks plunged again Thursday as more investors woke up to the possibility that economic problems such as Europe's debt crisis might spread around the world and stop the growing recovery in the U.S.

The Dow Jones industrial average fell 376 points, its biggest one-day point drop since February 2009, and all the major indexes were down well over 3 percent. Meanwhile, interest rates fell sharply in the Treasury market as investors once again sought the safety of U.S. government debt.

With Thursday's drop, the Standard & Poor's 500 index, considered the best indicator of the stock market's performance, is down almost 12 percent from its 2010 high close of 1,217.28, reached April 23. That means the market is officially in what's called a correction, a drop of 10 percent or more from a recent high. This is the first correction since stock indexes hit 12-year lows in March last year. The fact it has occurred in just 19 trading days shows how anxious traders are right now.

Analysts said there was no big event to set off Thursday's selling. More investors seemed to be grasping the possibility that the U.S. recovery could be in jeopardy. And many were wondering whether the stock market's big rebound since March 2009 may not have been entirely justified.

"The economic recovery story has started to look like a mirage and the new reality is a return to credit crunch conditions" like those seen during the financial crisis, said Tom Samuels, manager of the Palantir Fund in Houston. "If that's correct, stock prices are well ahead of economic reality."

Investors are concerned that the debt problems in European nations like Greece and Portugal will spill over to other countries, cause a cascade of massive losses for big banks and in turn halt the economic recovery in countries beyond Europe, including the U.S. They're also worried that China might take steps that will limit its economic growth, which would also affect the U.S. recovery. Analysts said the market is vulnerable to rumors about any of the major economies right now.

Investors appear increasingly convinced that European countries will need to adopt stringent spending cuts to pay down their heavy debt loads, independent market analyst Edward Yardeni said. Such cuts would likely to lead to long economic slump for those countries, a prospect that investors may now be accepting as reality as they sell stocks and the euro, the currency shared by 16 European nations, Yardeni said.

The euro, which has become a key indicator of confidence in Europe's economy, managed to rise to $1.2496 in late afternoon trading, a day after hitting $1.2146, a four-year low. But its advance didn't help stocks.

"The drop in the euro is the initial phase of a long-term, multi-year economic decline in Europe," Yardeni said. "It shows a declining confidence in the workability of the EU (European Union) monetary union, and that's why their stock markets are down."

"It's starting to look like one of these tragic stories were one person falls through the ice, then everyone else rushes in to help and ends up drowning," he added.

The market's slide over the past four weeks on worries about the global economy has been a painful reminder of the turbulent days during the 2008 financial crisis. On April 26, the Dow closed at its highest point since the market hit bottom on March 9, 2009. Since then, it has fallen nearly 1,000 points. It has fallen by at least 100 points in nine of the 18 trading days since its peak.

According to preliminary calculations, the Dow fell 376.36, or 3.6 percent, to 10,068.01.

The S&P 500 fell 43.46, or 3.9 percent, to 1,071.59. The Nasdaq composite index fell 94.36, or 4.1 percent, to 2,204.01.

At the New York Stock Exchange, only 153 stocks rose compared with 2,994 that fell. Volume came to a heavy 2.1 billion shares.

The market got some confirmation from a Federal Reserve official that Europe's problems could be a "potentially serious setback." Fed Governor Daniel Tarullo said that if the debt crisis curbed lending and the flow of credit globally, that would endanger both the U.S. and global recoveries, he says.

"Although we view such a development as unlikely, the swoon in global financial markets earlier this month suggests it is not out of the question," he said in prepared remarks.

Analysts said traders were retreating from any investment thought to be too dangerous to own right now. That has meant heavy selling in stocks, commodities and troubled currencies like the euro.

"Investors are in the midst of a major de-risking period due to debt concerns in Europe and signs of a slowdown in China, and now that's accelerating," said Peter Boockvar, equity strategist at Miller Tabak. "The fundamental concern right now are these threats to global growth."

As investors pulled out of stocks and other risky investments like commodities, they moved into safer investments such as U.S. Treasurys. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.22 percent from 3.37 percent late Wednesday.

Commodities prices also fell as investors speculated that a weak world economy would curtail demand for raw materials. Crude oil fell $1.86 to $68.01 per barrel on the New York Mercantile Exchange.

Traders were trying to anticipate the scenarios that could occur as Europe struggles to contain its debt problems.

"There's a question out there now that potentially we could be talking about a collapse of the eurozone or countries breaking away from the euro," said Tim Quinlan, an economist at Wells Fargo & Co. As recently as four months ago, that wasn't even considered a possibility, Quinlan said.

Such a stark change in views has unnerved investors. But analysts said they weren't seeing signs that fear is sweeping the market.

"These are not panic losses," said Todd Colvin, a vice president at MF Global Inc. in Chicago. "These guys are taking some profits off the table and taking some capital where they know it will be safe. And where's that? That's cash or even Treasurys."

Still, the Chicago Board Options Exchange's Volatility Index -- known as the market's fear gauge -- leaped almost 30 percent to its highest level since March 2009. The increase in the VIX signals that traders are bracing for more drops in the market.

The Labor Department's latest employment report added to worries about the global economy.

The department said new claims for unemployment benefits rose by 25,000 to 471,000, their largest amount in three months. That came as an unpleasant surprise to investors who were expecting a slight drop to 440,000. High unemployment remains one of the biggest obstacles to a sustained recovery in the U.S. The latest report snapped a streak of four straight weekly drops and again calls into question the strength of the job market.

Weekly claims have been stuck around 450,000 since January, unable to break closer to the 425,000 range that is considered a sign that employers are regularly hiring new workers.

A private research group reported an unexpected drop in its index of leading economic indicators. The Conference Board's index of future economic activity slipped in April for first drop since the stock market's bottom last year. Economists polled by Thomson Reuters had expected a gain. The slip signals that growth could slow this summer.

The demand for safety rose after Greek workers again took to the streets protesting recently approved budget cuts that were necessary for the country to receive a bailout. Greece was able to repay debt that came due Wednesday only because it had access to a rescue package from the European Union and International Monetary Fund.

In overseas stock trading, Britain's FTSE 100 fell 1.6, Germany's DAX index dropped 2 percent, and France's CAC-40 lost 2.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks end a seesaw week with a slight gain; Dow, S&P 500 are still in the red for 2010

The stock market had another tumultuous ride this week as disarray in Europe heightened fears of a global economic slowdown. Despite a late-day comeback on Friday, major stock indexes are down about 10 percent from the peak they reached in late April.

Declines of that size are known as a "correction." They are normal during a bull market and are even seen as a healthy way for a market to regain its bearings after a long period of uninterrupted gains. The correction that started this week is the first for the bull market that began in March of last year.

Whether the correction has mostly run its course or turns into a bear market, defined as a decline of 20 percent or more, is anyone's guess. Stock indexes ended with solid gains Friday after starting the day lower and dipping below 10,000; the Dow closed up 125 points.

*The NYSE DOW closed HIGHER +125.38 points +1.25% on Friday May 21*
Sym. Last......... ........Change..........
Dow 10,193.39 +125.38 +1.25% 
Nasdaq 2,229.04 +25.03 +1.14% 
S&P 500 1,087.69 +16.10 +1.50% 
30-yr Bond 4.0650% -0.7000 

NYSE Volume 9,262,020,000  (prior day 9,682,053,000)
Nasdaq Volume 3,359,069,500  (prior day 3,371,783,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,062.93 -10.20 -0.20% 
DAX 5,829.25 -38.63 -0.66% 
CAC 40 3,430.74 -1.78 -0.05% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,784.54 -245.77 -2.45% 
Hang Seng 19,545.83 -33.15 -0.17% 
Straits Times 2,696.58 -56.93 -2.07% 

http://finance.yahoo.com/news/Late-...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Late gain ends volatile week for the stock market

Stocks end a seesaw week with a slight gain; Dow, S&P 500 are still in the red for 2010 *

Seth Sutel and Tim Paradis, AP Business Writers, On Friday May 21, 2010, 6:13 pm 

NEW YORK (AP) -- The stock market had another tumultuous ride this week as disarray in Europe heightened fears of a global economic slowdown. Despite a late-day comeback on Friday, major stock indexes are down about 10 percent from the peak they reached in late April.

Declines of that size are known as a "correction." They are normal during a bull market and are even seen as a healthy way for a market to regain its bearings after a long period of uninterrupted gains. The correction that started this week is the first for the bull market that began in March of last year.

Whether the correction has mostly run its course or turns into a bear market, defined as a decline of 20 percent or more, is anyone's guess. Stock indexes ended with solid gains Friday after starting the day lower and dipping below 10,000; the Dow closed up 125 points.

The Dow Jones industrial average plunged 376 points Thursday, its worst one-day drop in more than a year. Stocks are now about where they were in early February and down 2 percent for the year.

Jacob Gold, a financial adviser and CEO of Jacob Gold & Associates in Scottsdale, Ariz., says the market collapse of 2008 is fresh in the memories of clients who have been peppering him with calls and e-mails this week.

"They're second-guessing themselves because they don't want to end up giving the economy the benefit of the doubt and having it hurt them," he said. "People are still licking their wounds from 2008 and they're not in a position to put themselves at risk like they once did."

The immediate catalyst for this week's sharp declines was deepening confusion over how Europe intends to get control of its public finances, restore order to financial markets and instill confidence in the continent's shared currency, the euro.

Germany broke ranks from its European neighbors this week, single-handedly reining in speculative trading in European bonds. And on Friday it was rebuffed in its calls for harsh punishments for European countries that consistently flout rules on fiscal spending limits.

Greece is struggling to cope with staggering debt, and investors fear it could end up dragging other economically weak European countries down with it. If Europe's banks crack down on lending, the thinking goes, other banks around the world could follow suit, tripping up economies around the world.

The unsettling news from Europe this week also reminded investors how tepid the U.S. economic recovery really is in historical terms. Gross domestic product rose at an annual rate of 3.2 percent in the first three months of the year, but that's not nearly as strong of a comeback as is typical after a deep recession. Companies also aren't hiring that much, unemployment is still 9.9 percent and the housing market hasn't recovered from its slump.

"Normally you would get a much stronger snapback," said Paul Ballew, chief economist at Nationwide Insurance in Columbus, Ohio, and a former senior economist with the Federal Reserve. "Given the magnitude of the downturn, growth should be much stronger than that already."

U.S. markets opened lower again on Friday, but a rally in financial shares helped stocks move higher. JPMorgan Chase & Co. and Bank of America Corp. were the biggest gainers in the 30 stocks that make up the Dow Jones industrial average. They and other financial shares rose after the Senate passed long-awaited financial reform legislation, removing a significant overhang for U.S. banks.

In other signs that some investors were regaining an appetite for risk, Treasury prices edged lower after spiking on Thursday, the dollar edged lower, commodity prices stabilized and gold prices fell.

The Dow rose 125.38, or 1.3 percent, to 10,193.39. The broader Standard & Poor's 500 index rose 16.10, or 1.5 percent, to 1,087.69. The Nasdaq composite index rose 25.03, or 1.1 percent, to 2,229.04.

The Dow fell below 10,000 during early trading Friday before recovering. It last fell through that level on May 6, when it briefly plunged nearly 1,000 points in an afternoon rout that was its biggest ever intraday slide. Regulators have said they are still unclear on what caused that brief plunge.

The three-week slide since the market hit its recent peak in late April has shaved $1.3 trillion of value from the S&P 500 index in the 19 trading days through Thursday. That's more than the $1 trillion Europe and the International Monetary Fund pledged to shore up weak European economies.

On the positive side, traders said it was encouraging to see that the S&P 500 came close to, but didn't fall below the level it touched on Feb. 8, its lowest point it reached so far this year. Market analysts pay close attention to technical indicators like that one, which they call "support levels."

With this week's bumpy ride and the "flash crash" of two weeks ago, individual investors have been calling financial advisers more, struggling to make sense of all the factors whipsawing the market.

"Uncertainty is driving investors' money right now," said Andrew B. Busch, global foreign currency and public policy strategist at BMO Capital Markets. "There are so many unresolved issues -- Europe's debt crisis, the flash crash, financial reform -- and nobody knows how its going to play out."

The Nasdaq composite index, which is dominated by technology stocks, has been more volatile than the broader market in the last week. Tech stocks tend to recover faster than those of other industries since businesses will often ramp up spending in computer equipment early in an economic recovery.

By the same token, those companies may be the first to feel the pinch if negative economic signs lead businesses to tighten their purse strings. Some money managers say those declines are overdone.

"I think a lot of good technology companies are being taken down unnecessarily in the latest downdraft," said Michael Cuggino, president and portfolio manager at Permanent Portfolio Family of Funds in San Francisco. "That may present some interesting opportunities."

Bond prices were mixed after jumping Thursday as investors dumped anything seen as risky. The yield on the benchmark 10-year Treasury note rose to 3.24 percent from 3.22 percent.

9828


----------



## bigdog

Source: http://finance.yahoo.com

Stocks end lower after jitters about financial overhaul bill drag down market; Dow drops 127 

Financial companies dragged stocks lower Monday as already anxious investors grew even more uncertain about the U.S. government's financial overhaul plan and debt problems in Europe.

The Dow Jones industrial average slid 80 points in the final 15 minutes of trading to end with a loss of almost 127. It was the lowest close for the Dow since Feb. 10. The Dow and the Standard & Poor's 500 index fell more than 1 percent.

Investors are worried about limits that could be placed on U.S. banks in a final version of the financial overhaul bill. A bill that passed the Senate last week is now being reconciled with the House version. The late drop illustrates how jittery traders are in particular about what will happen in Europe.

*The NYSE DOW closed LOWER -126.82 points  -1.24% on Monday May 24*
Sym. Last......... ........Change..........
Dow 10,066.57 -126.82 -1.24% 
Nasdaq 2,213.55 -15.49 -0.69% 
S&P 500 1,073.65 -14.04 -1.29% 
30-yr Bond 4.1040% +0.3900 

NYSE Volume 5,956,688,500  (prior day 9,262,020,000)
Nasdaq Volume 2,077,958,120  (prior day 3,359,069,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,069.61 +6.68 +0.13% 
DAX 5,805.68 -23.57 -0.40% 
CAC 40 3,430.93 +0.19 +0.01% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,758.40 -26.14 -0.27% 
Hang Seng 19,667.76 +121.93 +0.62% 
Straits Times 2,723.87 +22.67 +0.84% 

http://finance.yahoo.com/news/Late-...4.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Late slide in financial stocks hits stock market

Stocks end lower after jitters about financial overhaul bill drag down market; Dow drops 127 *

Tim Paradis, AP Business Writer, On Monday May 24, 2010, 6:04 pm 
NEW YORK (AP) -- Financial companies dragged stocks lower Monday as already anxious investors grew even more uncertain about the U.S. government's financial overhaul plan and debt problems in Europe.

The Dow Jones industrial average slid 80 points in the final 15 minutes of trading to end with a loss of almost 127. It was the lowest close for the Dow since Feb. 10. The Dow and the Standard & Poor's 500 index fell more than 1 percent.

Investors are worried about limits that could be placed on U.S. banks in a final version of the financial overhaul bill. A bill that passed the Senate last week is now being reconciled with the House version. The late drop illustrates how jittery traders are in particular about what will happen in Europe.

"People are afraid to go home and say 'All of the sudden what's going to happen overnight in Europe? Is something new going to pop up?'" said Joe Saluzzi, co-head of equity trading at Themis Trading LLC.

The rescue of a Spanish bank raised investors' uneasiness about Europe's economy. Investors can't shake their concerns that there could be more bank bailouts in Europe if a wave of bad debt cascades through financial markets. It's not clear that will happen, but traders remember well the problems in the U.S. that began with bad subprime loans. Those problems started small but eventually helped take down Lehman Brothers in September 2008.

The Bank of Spain stepped in to rescue Cajasur after it failed to complete a merger. It was only the second time Spain's central bank saved a regional lender. The country is one of those already dealing with ballooning deficits.

Meanwhile, traders still don't have a clear idea about which financial overhaul provisions will remain in the combined House and Senate bill. That is making some traders cautious about betting on financial stocks.

It remains uncertain, for example, whether a final bill will include a Senate provision that would require big banks to sell their derivatives operations. Derivatives are often profitable but risky investments. Derivatives that were tied to mortgages were blamed for worsening the housing crisis.

The Dow fell 126.82, or 1.2 percent, to 10,066.57. The S&P 500 index fell 14.04, or 1.3 percent, to 1,073.65, and the Nasdaq composite index fell 15.49, or 0.7 percent, to 2,213.55.

About three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume came to came to 8.1 billion shares compared with 2.3 billion Friday.

Bond prices rose. Investors have been flocking to the relative safety of government bonds and have at times dumped riskier assets like stocks and commodities. The yield on the 10-year Treasury note, which moves opposite its price, fell to 3.20 percent from 3.24 percent late Friday.

Gold rose $17.90 to $1,194 an ounce.

Crude oil rose 17 cents to $70.21 per barrel on the New York Mercantile Exchange.

The euro fell against the dollar, dropping to $1.2361. The 16-nation currency has become a symbol of investors' concern about the continent's economy. Traders have been dumping the euro on fears that massive debts will cause a default by a weaker country in the European Union. The euro hit a four-year low against the dollar last week.

Analysts question whether countries like Greece, Spain and Portugal will be able to contain mounting debt through steep spending cuts. Investors are also worried that those budget cuts will upend an economic recovery in Europe and slow a worldwide rebound.

"Right now the U.S. financial markets are trading very much out of fear and not any fundamentals," said Guy LeBas, chief fixed income strategist of Janney Montgomery Scott in Philadelphia.

Despite a rally Friday that lifted the Dow 125 points, major indexes still ended lower last week. Stocks are now trading at about where they were in early February and are down for the year.

Major indexes are down about 10 percent from their highs of the year, set in late April. That size drop is known as a "correction." It's the first retreat of that scale since stocks began a largely uninterrupted advance off of 12-year lows reached in March of 2009.

Mark Coffelt, portfolio manager at Empiric Funds in Austin, Texas, said traders are still cautious about the financial overhaul bill because big changes could disrupt the way financial companies operate.

"We're giving more oversight to the various regulators that failed us before," Coffelt said. He is concerned that tighter rules will constrict the availability of credit and hurt the economy. "Governments aren't looking very competent."

Bank of America Corp. fell 59 cents, or 3.7 percent, to $15.40, while JPMorgan Chase & Co. fell $1.43, or 3.6 percent, to $38.62.

Britain's FTSE 100 rose 0.1 percent, Germany's DAX index dropped 0.4 percent, and France's CAC-40 rose less than 0.1 percent.

Investors brushed off gains in Asia, where China's president said the country will loosen its currency policy. No timetable was given, however. China's Shanghai Composite index jumped 3.5 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks plunge early, then bounce back; Dow finishes above 10,000, but debt worries persist 

The Dow Jones industrials plunged below 10,000 to their lowest level of the year Tuesday before a late-day rebound that erased most of the losses if not lingering worries about Europe's debt crisis.

The Dow dropped more than 250 points after the opening bell and stayed under 10,000 most of the day, then charged back to finish down only 22 when signals from Washington suggested that banks would not be forced to sell their lucrative derivatives units as part of financial reform. The Standard & Poor's 500 index even managed a slight gain.

But more turbulent days are likely. The market worries that even austerity measures by European governments will not be enough to fix the problem and fight off a prolonged economic slump in Europe, or even another global recession.

*The NYSE DOW closed LOWER -22.82  points -0.23% on Tuesday May 25*
Sym. Last......... ........Change..........
Dow 10,043.75 -22.82 -0.23% 
Nasdaq 2,210.95 -2.60 -0.12% 
S&P 500 1,074.03 +0.38 +0.04% 
30-yr Bond 4.0500% -0.5400 

NYSE Volume 8,494,575,000  (prior day 5,956,688,500)
Nasdaq Volume 2,903,145,250  (prior day 2,077,958,120)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 4,940.68 -128.93 -2.54% 
DAX 5,670.04 -135.64 -2.34% 
CAC 40 3,331.29 -99.64 -2.90% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,459.89 -298.51 -3.06% 
Hang Seng 18,985.50 -682.26 -3.47% 
Straits Times 2,651.19 -72.68 -2.67%  

http://finance.yahoo.com/news/Dow-d...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Dow dips below 10,000, then bounces back

Stocks plunge early, then bounce back; Dow finishes above 10,000, but debt worries persist *

Tim Paradis and Stevenson Jacobs, AP Business Writers, On Tuesday May 25, 2010, 6:24 pm 

NEW YORK (AP) -- The Dow Jones industrials plunged below 10,000 to their lowest level of the year Tuesday before a late-day rebound that erased most of the losses if not lingering worries about Europe's debt crisis.

The Dow dropped more than 250 points after the opening bell and stayed under 10,000 most of the day, then charged back to finish down only 22 when signals from Washington suggested that banks would not be forced to sell their lucrative derivatives units as part of financial reform. The Standard & Poor's 500 index even managed a slight gain.

But more turbulent days are likely. The market worries that even austerity measures by European governments will not be enough to fix the problem and fight off a prolonged economic slump in Europe, or even another global recession.

"It seems like the Europeans are playing 'tag, you're it' -- first it was Greece, and now it's maybe Spain or Portugal," said Jonathan Corpina, a New York Stock Exchange floor trader and president of Meridian Equity Partners.

"We know someone else is next. The problem is that it seems like every plan in place isn't going to satisfy the needs," he said.

Britain's Queen Elizabeth opened Parliament with a warning of hard times, saying in a speech on behalf of Britain's new government that there would be budget cuts because "the first priority is to reduce the deficit and restore economic growth."

Other European countries are imposing budget cuts as well, trying to control their debt. Investors are concerned that these steps will stifle economic growth, and that the growth of other countries, including the U.S., will inevitably be stunted.

Besides the financial crisis in Europe, investors were reminded that political issues, such as tension between North and South Korea, can threaten economic growth. Analysts said the unresolved Gulf of Mexico oil spill also contributed to the foul mood.

It was enough to send stocks into a deep dive. In just the first half-hour of trading, the Dow sank to 9,774.48, its lowest reading this year, and for much of the day threatened to set a new closing low for the year. The average is down more than 10 percent in just the past month.

But bank stocks surged, and the rest of the market followed, after Rep. Barney Frank, chairman of the House Financial Services Committee, suggested financial companies should not have to spin off their derivatives businesses, as a Senate provision would have them do.

Frank, D-Mass., said he believes banks should be able to use the complex financial instruments to hedge their own risks. Bank regulators and Obama administration officials also oppose the Senate provision, which was inserted by Sen. Blanche Lincoln, D-Ark.

The Dow has only closed below 10,000 once this year, in early February. Since then, it has traded below 10,000 seven times but each time managed to push above that psychological barrier by the close.

On Tuesday, the Dow finished down 22.82 at 10,043.75. The Nasdaq composite index closed down 2.60 at 2,210.95, and the S&P 500 gained 0.38 to close at 1,074.03.

Investors also fled from the euro and commodities including oil, and again sought safety in government bonds. That drove interest rates lower. The benchmark 10-year note's yield fell to its lowest level since April 2009.

The market's continuing slide, with frequent triple-digit drops in the Dow, recalls the unrelenting selling of the 2008 financial crash -- and begs the question of what can halt the plunge.

Jim Dunigan, managing executive of investments for PNC Wealth Management, said good news about jobs or corporate earnings could stabilize stocks by signaling that a U.S. recovery is intact.

The government's monthly jobs report in less than two weeks is expected to show that employers are ramping up hiring further. And companies will soon start giving hints about profits for the quarter that ends in June.

"You could derail growth in Europe and not derail growth in the United States, but people don't necessary use a lot of logic when they're headed to the exits," Dunigan said.

For now, traders are unswayed by upbeat U.S. economic news. They ignored a better-than-expected report Tuesday showing consumer confidence index rose for the third straight month.

"Market participants feel like they're walking on eggshells," said Oliver Pursche, executive vice president at Gary Goldberg Financial Services in Suffern, N.Y. "Every small piece of potentially bad news is being exaggerated and mentally being fast-forwarded to the worst-case scenario."

Meanwhile, the monthlong effort to cap the BP oil well that has spewed millions of gallons of oil into the Gulf of Mexico is also rattling investors, Corpina said. Oil is coming ashore across a 150-mile swath of the Gulf Coast, endangering wildlife and livelihoods in commercial fishing and tourism.

"The worry is that the situation is getting worse and there's no real fix," he said. "First we were just talking about the oil industry being affected. Now it's the environment and fishing industries. Next we'll be talking about the hotel and leisure industries."

A disappointing report on home prices added to the downcast mood. The Standard & Poor's/Case-Shiller 20-city home price index fell 0.5 percent in March from February, a sign the housing market remains weak even with mortgage rates near historic lows.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.17 percent from 3.20 percent late Monday. It fell as low as 3.07 percent, its lowest level since April 2009.

The yield on the 30-year bond briefly fell below 4 percent for the first time since October, before rising slightly. It is down to 4.07 percent from 4.08 percent late Monday.

Crude oil fell $1.06 to $69.16 a barrel on the New York Mercantile Exchange, in part a reflection of expectations that weak economic growth will curtail demand for fuel.

Overseas markets were also down sharply. Britain's FTSE 100 dropped 2.5 percent, Germany's DAX index lost 2.3 percent, and France's CAC-40 plummeted 2.9 percent. Japan's Nikkei stock average fell 3.1 percent. Hong Kong's Hang Seng fell 3.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks give up early gains and end lower after the euro sinks again; Dow closes under 10,000 

A drop in the euro set off a late-day slide in stocks Wednesday and sent the Dow Jones industrial average to its first close below 10,000 in nearly four months.

The Dow, up 135 points in morning trading, ended down about 69. It was the eighth drop for the Dow in 10 days. Wednesday's trading extended a streak of volatility since stocks went to their highest level of the year in late April.

The late reversal underscored how jittery traders are about Europe. They are worried that heavy debt loads in European countries and more rounds of cost-cutting will hamper a recovery there, which could spread quickly to other regions.

*The NYSE DOW closed LOWER -69.30 points -0.69%  on Wednesday May 26*
Sym. Last......... ........Change..........
Dow 9,974.45 -69.30 -0.69% 
Nasdaq 2,195.88 -15.07 -0.68% 
S&P 500 1,067.95 -6.08 -0.57% 
30-yr Bond 4.12% +0.65 

NYSE Volume 7,997,516,000  (prior day 8,494,575,000)
Nasdaq Volume 3,081,370,000  (prior day 2,903,145,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,038.08 +97.40 +1.97% 
DAX 5,758.02 +87.98 +1.55% 
CAC 40 3,408.59 +77.30 +2.32% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,522.66 +62.77 +0.66% 
Hang Seng 19,196.45 +210.95 +1.11% 
Straits Times 2,710.04 +59.43 +2.24% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks fade late as euro sinks; Dow ends under 10K

Stocks give up early gains and end lower after the euro sinks again; Dow closes under 10,000 *

Tim Paradis, AP Business Writers, On Wednesday May 26, 2010, 6:14 pm EDT 

NEW YORK (AP) -- A drop in the euro set off a late-day slide in stocks Wednesday and sent the Dow Jones industrial average to its first close below 10,000 in nearly four months.

The Dow, up 135 points in morning trading, ended down about 69. It was the eighth drop for the Dow in 10 days. Wednesday's trading extended a streak of volatility since stocks went to their highest level of the year in late April.

The late reversal underscored how jittery traders are about Europe. They are worried that heavy debt loads in European countries and more rounds of cost-cutting will hamper a recovery there, which could spread quickly to other regions.

"We had a nice rally all day and we expected it to have had legs," said Phillip Orlando, chief equity market strategist at Federated investors in New York, which manages about $400 billion. The sudden sell-off, he said, suggests "that investors are as nervous as a long-tailed cat in a roomful of rocking chairs."

The euro fell in late trading, pulling major stock indexes lower, following a Financial Times report that China is reviewing its holdings of European government bonds because of the crisis in government debt there.

China has been seeking ways to diversify its massive foreign exchange holdings out of dollars for some time. However any indication that it was losing confidence in the euro, leading it to sell some portion of its European bond holdings, would deliver a major blow to the European currency.

The sliding euro has become a symbol of waning confidence in Europe's ability to contain its debt problems. The euro remains close to the four-year low it hit last week. It fell to $1.2179 Wednesday.

"The inability of the market to hang on to the early gains today certainly does not send a very positive message," said Teddy Weisberg, a New York Stock Exchange floor trader with Seaport Securities. "It's a function of there being no confidence among investors."

The Dow fell 69.30, or 0.7 percent, to 9,974.45. It was the first close below 10,000 since Feb. 8 when the Dow finished at 9,908.

The broader Standard & Poor's 500 index fell 6.08, or 0.6 percent, to 1,067.95. 

The Nasdaq composite index closed down 15.07, or 0.7 percent, to 2,195.88.

About two stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 7.1 billion shares, compared with 7.4 billion traded Tuesday.

Treasury prices pared an early slide as investors late in the day went back in search of safe investments. The yield on the benchmark 10-year Treasury note rose to 3.19 percent from 3.16 percent late Tuesday.

Crude oil rose $2.76 to $71.51 per barrel on the New York Mercantile Exchange. Gold rose.

The stock slump at day's end marked an opposite to the pattern seen on Tuesday, when traders chipped away at a steep slide by the close and the major indexes ended little changed.

The slide in stocks has rattled investors still shaken by the market's plunge in late 2008 and early 2009.

"Everyone is so scared from what happened back in the big crash and now they're just all gun-shy," said Frank Ingarra, co-portfolio manager at Hennessy Funds.

Stocks were higher for most of the day after traders focused on economic news. Two reports from the Commerce Department offered the latest evidence that the U.S. economy is improving. Orders for big-ticket manufactured goods rose 2.9 percent last month. It was the biggest jump in three months and more than double the gain economists polled by Thomson Reuters had forecast.

U.S. manufacturing has been strong throughout the recovery. April's figures were boosted by a big rise in transportation orders. Excluding transportation, orders fell 1 percent.

The government also said that sales of new single-family homes rose 14.8 percent to an annual rate of 504,000 units after buyers raced to secure an expiring tax credit. That followed a 29.8 percent rise in March that was the biggest increase in 47 years. The latest gain was well ahead of estimates.

The slide in stocks extended their slump for May. At its 2010 high last month, the Dow was up 71.2 from a 12-year low in March 2009. Since then, it's fallen 1,231 points, or 11 percent.

A drop of more than 10 percent from a peak in short order is considered by most analysts a "correction."

Kevin Giddis, managing director of fixed income at Morgan Keegan in Memphis, said the slide in stocks and the rush to Treasurys has been overdone. The economic numbers confirm that the economy is in far better shape than it was two years ago when Lehman Brothers collapsed and credit evaporated.

"It is a giant fear trade that is being overblown," he said.

Among technology stocks, Apple Inc. moved ahead of Microsoft Corp. as the world's largest tech company by the value of its outstanding shares.

Apple fell $1.11, or 0.5 percent, to $244.11, while Microsoft fell $1.06, or 4.1 percent, to $25.01. That put Apple's market capitalization at $222 billion compared with $219 billion for Microsoft. Apple is now the No. 2 U.S. company by market capitalization behind Exxon Mobile Corp.

The Russell 2000 index of smaller companies rose 2.60, or 0.4 percent, to 642.62.

Major European indexes snapped back after big losses Tuesday. Britain's FTSE 100 gained 2 percent, Germany's DAX index rose 1.6 percent, and France's CAC-40 climbed 2.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks surge after China says it doesn't plan to sell European debt; Dow jumps 285 points 

Stocks had another turnaround Thursday and rocketed higher after China reassured investors it doesn't plan to sell the European debt it holds.

The Dow Jones industrial average surged nearly 285 points. Treasury prices tumbled as traders funneled money into riskier assets like stocks and commodities.

China's show of confidence in Europe let the market resume a rally that stalled late Wednesday following a report that the Chinese government was considering cutting its European debt holdings. If that were true, such a move would have signaled that China didn't think Europe would be able to contain its debt crisis. The agency that manages China's $2.5 trillion in foreign reserves denied the report.

*The NYSE DOW closed HIGHER +284.54 points +2.85% on Thursday May 27*
Sym. Last......... ........Change..........
Dow 10,258.99 +284.54 +2.85% 
Nasdaq 2,277.68 +81.80 +3.73% 
S&P 500 1,103.06 +35.11 +3.29% 
30-yr Bond 4.2390% +1.2400 

NYSE Volume 6,298,330,000  (prior day 7,997,516,000)
Nasdaq Volume 2,392,125,500  (prior day 3,081,370,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,195.17 +157.09 +3.12% 
DAX 5,937.14 +179.12 +3.11% 
CAC 40 3,525.31 +116.72 +3.42% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,639.72 +117.06 +1.23% 
Hang Seng 19,431.37 +234.92 +1.22% 
Straits Times 2,739.70 +43.68 +1.62% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks jump after China shows confidence in Europe

Stocks surge after China says it doesn't plan to sell European debt; Dow jumps 285 points *

Stephen Bernard and Tim Paradis, AP Business Writers, On Thursday May 27, 2010, 6:19 pm EDT 

NEW YORK (AP) -- Stocks had another turnaround Thursday and rocketed higher after China reassured investors it doesn't plan to sell the European debt it holds.

The Dow Jones industrial average surged nearly 285 points. Treasury prices tumbled as traders funneled money into riskier assets like stocks and commodities.

China's show of confidence in Europe let the market resume a rally that stalled late Wednesday following a report that the Chinese government was considering cutting its European debt holdings. If that were true, such a move would have signaled that China didn't think Europe would be able to contain its debt crisis. The agency that manages China's $2.5 trillion in foreign reserves denied the report.

Analysts also said some bounce has been expected after the slide that drove the Dow down 11 percent from its 2010 peak a month ago. Traders cautioned that this might not be a rally but merely a break in selling.

Some of the climb could be tied to what's called "short-covering." That occurs when traders are forced to buy stock after having earlier sold borrowed shares in a bet that the market would fall. Though it's difficult to determine how much lift short-covering might be giving stocks, the rush to cover misplaced bets can add to a rally.

The steep gains Thursday were welcome after the Dow dropped eight of the prior 10 days. Twice this week, stocks have climbed for much of the day only to see the advances erased in late slides. The Dow rose 135 points Wednesday morning, but ended the day down about 69.

Peter Tuz, president of Chase Investment Council in Charlottesville, Va., said the market has fallen too quickly. He said a break was due because there have been so many days with heavy selling.

"It's like a 100-year flood -- having 3 of them in a year," Tuz said. "That to me was an indication that the market was clearly oversold."

Concerns about debt problems in Europe have pounded stocks around the world this month. Traders were initially worried that banks would be hit if weaker countries like Greece or Portugal defaulted on their debt. Now that a nearly $1 trillion European Union rescue plan has emerged, the more recent fear has been that budget cuts in European countries will slow a global recovery.

The euro, which is seen as an indicator for confidence in the health of Europe's economy, rose to $1.2358 Thursday a day after nearing the four-year low it hit last week. Trading in major markets around the world has often tracked the euro in recent weeks.

Yu-Dee Chang, principal at ACE Investment Strategists in McLean, Va., said investors know that the problems in Europe will take time to resolve. Chang said the uncertainty about whether the U.S. economy will continue to rebound is leading many traders to make short-term bets on stocks. That is adding to the market's swings.

"I'm willing to buy at certain times on dips but any time I get a nice profit after a certain stretch -- I'm going to take my profit," Chang said. He expects that the market will remain volatile for at least the next six months. "I just don't want to be long-term committed."

The Dow rose 284.54, or 2.9 percent, to 10,258.99. It was the biggest gain for the Dow since it soared 405 points on May 10 after the European Union announced a bailout for debt-strapped countries.

The climb vaulted the Dow back above 10,000. It closed below that psychological benchmark on Wednesday for the first time since February.

The Standard & Poor's 500 index rose 35.11, or 3.3 percent, to 1,103.06. The Nasdaq composite index climbed 81.80, or 3.7 percent, to 2,277.68, putting it back in the black for 2010. The Dow and the S&P 500 index are still lower for the year.

Major stock indexes have also erased their losses for the week.

At the New York Stock Exchange, 2,885 shares rose while only 220 fell. Consolidated volume came to 5.5 billion shares compared with 7.1 billion Wednesday.

Bond prices tumbled, pushing interest rates higher. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.36 percent from 3.19 percent late Wednesday.

Analysts say the market's abrupt slide in the past month is part of the hangover from the financial crisis in late 2008 and early 2009. The collapse of Lehman Brothers dried up credit around the world and pounded an economy already in recession. With that fresh in investors' minds, traders found it safer to dump stocks first without waiting to see whether the problems in Europe would hurt the U.S.

In other trading, crude oil rose $3.04 to $74.55. Most metals and gain prices rose, while gold fell.

Financial and energy stocks led the market higher. American Express Co. posted the biggest gain among the 30 stocks that make up the Dow industrials. The stock rose $2.16, or 5.7 percent, to $40.33.

BP PLC rose $2.97, or 7 percent, to $45.38 after the company said its effort to plug the leaking oil in the Gulf of Mexico appeared to be making progress.

At the same time, new government estimates indicated that the spill has topped the 1989 Exxon Valdez accident to become the worst in the nation's history.

The news from China overshadowed disappointing reports on the U.S. economy. The Labor Department said initial claims for unemployment benefits fell last week, but not by as much as economists had forecast. A report on gross domestic product indicated that the U.S. economy did not grow as fast in the first quarter as previously thought.

The Russell 2000 index of smaller companies rose 27.89, or 4.3 percent, to 670.51.

Britain's FTSE 100 and Germany's DAX index each rose 3.1 percent, while France's CAC-40 climbed 3.4 percent. Japan's Nikkei stock average rose 1.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Monday is a holiday in the USA

Stocks closed out their worst month in more than a year by sliding again on more unsettling news about Europe.

The Dow Jones industrials dropped 122 points Friday after Fitch Ratings gave Spain the second downgrade of its credit rating in a month. The rating agency's action was another reminder to traders of the long-term economic problems still facing several European countries, and pehaps the rest of the continent and the global economy as well.

May was difficult as persistent and intensifying worries about Europe's debt problems sent the Dow down 7.9 percent and the broader Standard & Poor's 500 index down 8.2 percent. Both indexes had their worst monthly performance since February 2009, the month before stocks began their recovery from 12-year lows. The Dow lost nearly 872 points, its biggest point drop ever for May.

*The NYSE DOW closed LOWER -122.36 points -1.19% on Friday May 28*
Sym. Last......... ........Change..........
Dow	10,136.63	-122.36	-1.19%
Nasdaq	2,257.04	-20.64	-0.91%
S&P 500	1,089.41	-13.65	-1.24%
30-yr Bond	4.2140%	-0.2500

NYSE Volume	5,764,268,500  (prior day 6,298,330,000)
Nasdaq Volume	2,185,725,000  (prior day 2,392,125,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,188.43 -6.74 -0.13% 
DAX 5,946.18 +9.04 +0.15% 
CAC 40 3,515.06 -10.25 -0.29% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,762.98 +123.26 +1.28% 
Hang Seng 19,766.71 +335.34 +1.73% 
Straits Times 2,739.70 closed today 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks retreat as Fitch downgrades Spain's debt

Stocks fall as Fitch downgrades Spain's debt; market heads to worst month in more than a year *

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=1&asset=&ccode=

Stephen Bernard, AP Business Writer, On Friday May 28, 2010, 6:03 pm 

NEW YORK (AP) -- Stocks closed out their worst month in more than a year by sliding again on more unsettling news about Europe.

The Dow Jones industrials dropped 122 points Friday after Fitch Ratings gave Spain the second downgrade of its credit rating in a month. The rating agency's action was another reminder to traders of the long-term economic problems still facing several European countries, and pehaps the rest of the continent and the global economy as well.

May was difficult as persistent and intensifying worries about Europe's debt problems sent the Dow down 7.9 percent and the broader Standard & Poor's 500 index down 8.2 percent. Both indexes had their worst monthly performance since February 2009, the month before stocks began their recovery from 12-year lows. The Dow lost nearly 872 points, its biggest point drop ever for May.

The last trading day of May fit the pattern of the rest of the month. Stocks alternately plunged and recovered, then dropped late in the day as investors facing a three-day holiday weekend decided to play it safe and sell.

Fitch cut Spain's rating by one notch, saying the country's plan to cut its budget will likely slow economic growth. Mounting debt forced Spain, among other European countries, to recently impose austerity measures to try and contain its rising deficit.

The rating agency also cited the recent bailout of a regional bank by Spain's central bank as a sign that the country's economic recovery will lag. Earlier this month, Standard & Poor's lowered its rating of Spain's debt. Greece and Portugal have also suffered downgrades.

Stocks were already down before the news about Spain broke in the early afternoon.

"People are worried about Europe and we're seeing a knee-jerk reaction, particularly ahead of a long weekend," said Joe Heider, a principal at Rehmann in Cleveland. He said traders won't want to be holding some investments since U.S. markets are closed Monday, while European ones are open.

Heider noted that the new rating, just one short of Fitch's highest, is still quite good. It was more the timing of the cut before the holiday weekend than the actual downgrade itself that surprised investors, he said.

The market's reaction was an example of how quick investors have been to sell during May. Although the day didn't see the huge swings stocks had earlier this month, there was still plenty of emotion. The biggest shock of the month came May 6, when the Dow took a dive of 1,000 points in less than 30 minutes before recovering most of its losses.

Greece, the most troubled European country, has received a bailout and several other countries are also cutting their spending, but investors fear that the region's debt problems can't be contained. They're also worried that austerity measures will stifle economic growth, and that Europe's slowdown will become the world's slowdown.

The market's drop this month has given it what's called a "correction." That's considered a drop of 10 percent or more from a recent high. The S&P 500, the index most watched by market pros, ended May down 10.5 percent from its high for the year, reached April 23. The Dow is down 9.5 percent from its 2010 high, reached April 26. The Dow has regained some ground from the low of 9,974.45 it closed at on Wednesday.

On Friday, the Dow fell 122.36, or 1.2 percent, to 10,136.63, its ninth drop in 12 days. The S&P 500 index fell 13.65, or 1.2 percent, to 1,089.41, while the Nasdaq composite index dropped 20.64, or 0.9 percent, to 2,257.04.

The Russell 200 index of smaller companies fell 8.90, or 1.3 percent, to 661.61.

About two stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 5.09 billion shares, down from Thursday's 5.5 billion.

With investors pulling out of stocks, bond prices rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.29 percent from 3.36 percent late Thursday.

The anxiety about Europe sent interest rates tumbling in May. Investors were buying U.S. government debt because of its reputation for safety. The yield on the 10-year Treasury note rose to around 3.70 percent at the beginning of the month, but then fell to a 2010 low of 3.07 percent this week. Since mortgage rates are tied to that note, mortgage rates fell to 4.78 percent, their lowest level since December when they touched a record low of 4.71 percent.

However, corporate borrowing rates rose, particularly junk bond rates, as investors grew uneasy about company bonds. Barclays Capital's index that tracks high-yield U.S. corporate debt fell nearly 4 percent in May.

The problems in Europe led investors to ignore continuing signs of improvement in the U.S. economy during May. Investors' fear is that forced cutbacks in government spending in Europe in the coming months will curb the continent's economic growth, and in turn, the U.S. recovery.

Next week will bring a series of economic reports that will test the market, including the Labor Department's May employment report and readings on manufacturing, consumer spending and housing.

If there are any signs that the U.S. economy is being affected by news of Europe's problems -- for example, if consumers seemed to be spending less -- investors are likely to start selling again. And if the jobs report is disappointing, the market is also likely to suffer.

A report Friday showed that the U.S. recovery might be slowing a bit. The Commerce Department said consumer spending was flat in April, compared with the previous month. Economists polled by Thomson Reuters had forecast spending would rise 0.3 percent. It was the first time in seven months that spending had not risen in a month, indicating that consumers are still somewhat tentative about the health of the economy.

Personal income rose 0.4 percent, slightly worse than the 0.5 percent growth forecast by economists.

"This month was damaging to the psychology of investors, so consumption may taper in the near term," said Jamie Cox, managing director at Harris Financial Group in Richmond, Va.

Cox said consumers are more tentative after last year's market drop and recession, so they are more likely to cut back quickly at any signs of economic weakness. Investors, particularly retail investors, are also more likely to sell stocks at the first sign of a pullback, he said.

"We're not far enough removed from the 2009 drop," Cox said. "People are saying 'not again.'"

Overseas, Britain's FTSE 100 fell 0.1 percent, Germany's DAX index was down less than 0.1 percent, and France's CAC-40 fell 0.3 percent. Japan's Nikkei stock average rose 1.3 percent.

0479


----------



## bigdog

Source: http://finance.yahoo.com

*Monday was Memorial Day holiday in the USA*

European markets mostly flat despite Spain rating downgrade; Paris' CAC down 0.1 percent 

*The NYSE DOW was closed closed for Memorial Day on Monday May 31*
Sym. Last......... ........Change..........
Dow 10,136.63 closed for Memorial Day
Nasdaq 2,257.04 
S&P 500 1,089.41 
30-yr Bond 4.2140% 

NYSE Volume 5,764,268,500 
Nasdaq Volume 2,185,725,000 

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,188.43 closed for Bank Holiday 
DAX 5,964.33 +18.15 +0.31% 
CAC 40 3,507.56 -7.50 -0.21% 


*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,768.70 +5.72 +0.06% 
Hang Seng 19,765.19 -1.52 -0.01% 
Straits Times 2,752.60 +56.58 +2.10% 

http://finance.yahoo.com/news/Europ...7.html?x=0&sec=topStories&pos=6&asset=&ccode=

*European markets flat despite Spain downgrade

European markets mostly flat despite Spain rating downgrade; Paris' CAC down 0.1 percent *

Greg Keller, AP Business Writer, On Monday May 31, 2010, 10:51 am EDT 

PARIS (AP) -- European stock markets traded mostly flat Monday as investors shrugged off more sobering news about shaky government finances ahead of a busy schedule of U.S. economic data later in the week.

The CAC 40 index of leading French shares was down almost 3 points at 3,512.16 while Germany's DAX rose 38.47 points or 0.7 percent to 5,984.65. Spain's IBEX index fell 0.7 percent to 9,363.2.

Oil, meanwhile, rose above $74 a barrel, and the dollar gained against the yen and weakened against the euro.

Markets in the U.S. and Britain were closed for public holidays.

In an otherwise quiet session due to the U.K. bank holiday, investors remained focused on Europe's debt crisis. The French parliament is scheduled to go over a revised budget bill today ahead of its expected approval of France's share of the trillion dollar bailout for struggling member states.

German markets shrugged off the surprise resignation of President Horst Koehler. Koehler quit Monday from the largely ceremonial post after being criticized for remarks in which he appeared to link military deployments abroad with the country's economic interests.

Eurozone inflation increased in May but remained well below the 2 percent medium-term target set by the European Central Bank, figures released by Europe's statistics office showed Monday.

Markets had no direction from U.S. markets, which were closed for Memorial Day. But a heavy schedule of economic data due later in the week including the May jobs report is expected to drive trading as investors get a clearer picture of the economic recovery.

Comments by European Central Bank chief Jean-Claude Trichet in support of closer control of financial and economic policy across the 16-nation European currency zone were not enough to stir a reaction on markets, where volumes were thin.

In an interview with French daily Le Monde, Trichet reiterated his call for a "budgetary union" to complement the eurozone's monetary union.

Analysts characterized the markets as volatile and saw investors holding back as doubts remain the European Union can contain a debt crisis that has sent the euro to four-year lows.

"They are still cautious at this point," said Mark Tan, who helps manage about $15 billion of equities and bonds at UOB Asset Management in Singapore. "Liquidity in the stock market is still pretty tight."

On Friday, the Dow Jones industrials shed 1.2 percent to 10,136.63 after Fitch Ratings gave Spain the second downgrade of its credit rating in a month. The rating agency's action, coming just after European markets closed Friday, gave investors another reminder of the long-term economic problems still facing debt-laden countries.

The news, however, did not come as a shock to investors in Asia, where expectations of a downgrade of Spain had been circulating for some time. Markets in Asia were mixed in early trade and then mostly headed higher.

"Asians were prepared for the downgrade for Spain," said Francis Lun, general manager of Fulbright Securities Ltd. in Hong Kong. "So Asian markets are quite stable today. Even Bangkok is up."

Jackson Wong, vice president at Tanrich Securities in Hong Kong, also said he viewed Asia as stabilizing, despite some investor nervousness.

"The momentum is still on the positive side," Wong said.

Japan's Nikkei 225 stock average inched up 5.72 points, or 0.1 percent, to 9,768.7 amid news that industrial production in the world's No. 2 economy rose for a second straight month in April, propelled by robust growth in China and the rest of Asia.

Separately, India's economic growth accelerated to 8.6 percent in the January-March quarter, its best in two years as Asia's third-largest economy returns to pre-crisis levels of expansion.

In currencies, the dollar rose to 91.45 yen from 91.02 yen late Friday. The euro rose to $1.2309 from $1.2272, a bump upward that may stem from the overselling of euros last week.

Benchmark crude for July delivery was up 49 cents at $74.46 a barrel in electronic trading on the New York Mercantile Exchange.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks turn sharply lower in late trading on announcement of BP investigations; Dow falls 113 

Stocks took another late-day dive Tuesday after the government said it was starting criminal and civil investigations into the Gulf of Mexico oil spill.

The Dow Jones industrial average dropped almost 113 points. Its plunge came shortly before the close and minutes after Attorney General Eric Holder made the announcement. Stocks in energy companies and oil service providers tumbled on the news, and other stocks followed.

Holder would not say which companies or individuals might be under investigation. But investors quickly dumped stocks across the energy industry. BP PLC, which operated the rig that caused the spill, fell almost 15 percent. Anadarko Petroleum Corp., which has a stake in the rig that exploded, tumbled nearly 20 percent. Oil services company Halliburton Inc. fell almost 15 percent.

*The NYSE DOW closed LOWER -112.61  points -1.11% on Tuesay June 1*
Sym. Last......... ........Change..........
Dow 10,024.02 -112.61 -1.11% 
Nasdaq 2,222.33 -34.71 -1.54% 
S&P 500 1,070.71 -18.70 -1.72% 
30-yr Bond 4.2020% -0.1200 

NYSE Volume 6,122,615,500  (prior day 5,764,268,500)
Nasdaq Volume 2,151,189,250  (prior day 2,185,725,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,163.30 -25.13 -0.48% 
DAX 5,981.27 +16.94 +0.28% 
CAC 40 3,503.08 -4.48 -0.13% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,711.83 -56.87 -0.58% 
Hang Seng 19,496.95 -268.24 -1.36% 
Straits Times 2,715.44 -37.16 -1.35% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks turn sharply lower in late trading on announcement of BP investigations; Dow falls 113 *

Tim Paradis, AP Business Writer, On Tuesday June 1, 2010, 5:51 pm EDT 

NEW YORK (AP) -- Stocks took another late-day dive Tuesday after the government said it was starting criminal and civil investigations into the Gulf of Mexico oil spill.

The Dow Jones industrial average dropped almost 113 points. Its plunge came shortly before the close and minutes after Attorney General Eric Holder made the announcement. Stocks in energy companies and oil service providers tumbled on the news, and other stocks followed.

Holder would not say which companies or individuals might be under investigation. But investors quickly dumped stocks across the energy industry. BP PLC, which operated the rig that caused the spill, fell almost 15 percent. Anadarko Petroleum Corp., which has a stake in the rig that exploded, tumbled nearly 20 percent. Oil services company Halliburton Inc. fell almost 15 percent.

Analysts have said the oil spill has been among the many issues nagging at investors in recent weeks. Among the fears in the market is the potential economic hit from the spill. But Tuesday's announcement raised the possibility that oil companies might have to pay out huge amounts in fines, or see their operations hampered by a government investigation.

"Right now it's headline risk that's killing us in this market," said Ken Kamen, president of Mercadien Asset Management in Hamilton, N.J. He said the question marks that pop up when news breaks are making traders think it's safer to just retreat.

"When you just get over third-degree burns you don't go too near that stove. Last year is not too far out of peoples' minds," Kamen said, referring to the market's slide in 2008 and early 2009.

Trading was choppy for much of the day before Holder's announcement, a sign that investors weren't sure where to put their money. Investors were juggling worries about Europe's debt problems with upbeat reports on U.S. manufacturing and construction.

The euro slid as low as $1.2112, its lowest level since April 2006, before climbing back to $1.2210. The euro's moves against other currencies have come to reflect traders' confidence in Europe's ability to manage a sovereign debt crisis that started in Greece but has spread to other European nations like Portugal and Spain.

Stocks did get some early support from the Commerce Department's report that construction spending rose by the biggest amount in nearly a decade. The 2.7 percent April gain was the largest since August 2000. Economists forecast spending would be flat. However, homebuilders' stocks fell although the report showed a big jump in residential building. That blip upward was expected to disappear now that a homebuyers' tax credit has expired.

Meanwhile, the Institute for Supply Management said its manufacturing index fell to 59.7 in May from 60.4 in April. The figure was better than economists' forecast of 59.

The Dow fell 112.61, or 1.1 percent, to 10,024.02. The Standard & Poor's 500 index fell 18.70, or 1.7 percent, to 1,070.71, while the Nasdaq composite index fell 34.71, or 1.5 percent, to 2,222.33.

About four stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 5.3 billion shares compared with 5.1 billion Friday. Volume was light because some traders were away for a long Memorial Day holiday. Light volume can intensify swings in the market.

Ryan Detrick, senior technical strategist at Schaeffer's Investment Research in Cincinnati, said volatility is likely to continue through the summer in part because some everyday investors who put money into the market before its drop in May are giving up. That leaves the pros who use automated trades to try to profit from moves in stocks.

"It just seems like it's computers versus computers," he said. "This volatility is probably here to stay, unfortunately, but that doesn't mean that the market is going to collapse."

Bond prices rose, sending interest rates lower. The yield on the benchmark 10-year Treasury note fell to 3.27 percent from 3.29 percent late Friday.

The dollar rose against most other major currencies, while gold rose. Crude oil fell $1.39 to $72.58 per barrel on the New York Mercantile Exchange.

BP's U.S.-listed shares dropped $6.43, or nearly 15 percent, to $36.52. Offshore drilling contractor Transocean Ltd., which owns the well, fell $6.73, or 11.9 percent, to $50.04.

Anadarko fell $10.23, or almost 20 percent, to $42.10. Halliburton dropped $3.68, or 14.8 percent, to $21.15.

Among consumer stocks, Procter & Gamble Co. rose 7 cents to $61.16 and Kraft Foods Inc. rose 30 cents to $28.90.

Homebuilder KB Home fell 75 cents, or 5.2 percent, to $13.73, while Toll Brothers Inc. fell 94 cents, or 4.5 percent, to $20.13.

The Russell 2000 index of smaller companies fell 20.65, or 3.1 percent, to 640.96.

Overseas, Britain's FTSE 100 fell 0.5 percent, Germany's DAX index rose 0.3 percent, and France's CAC-40 slipped 0.1 percent.

Asian markets fell following a report that China's manufacturing industry slowed last month. Hong Kong's Hang Seng fell 1.4 percent, while Japan's Nikkei stock average lost 0.6 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks bounce higher after April homes sales increase 6 percent; Energy shares lead rebound 

The stock market rebounded Wednesday following a stronger-than-expected increase in pending home sales and a recovery in shares of energy companies.

The Dow Jones industrial average rose about 226 points, its third biggest gain of 2010. Major indexes recovered the losses they suffered Tuesday shortly before the close, when the government announced criminal and civil investigations into the Gulf oil spill.

Energy stocks bounced back sharply after selling off the day before. Schlumberger, which provides services to oil companies, rose more than 8 percent, while Baker Hughes gained more than 10 percent.

*The NYSE DOW closed HIGHER +225.52 points +2.25% on Wednesday June 2*
Sym. Last......... ........Change..........
Dow 10,249.54 +225.52 +2.25% 
Nasdaq 2,281.07 +58.74 +2.64% 
S&P 500 1,098.38 +27.67 +2.58% 
30-yr Bond 4.2380% +0.3600 

NYSE Volume 5,892,672,500  (prior day 6,122,615,500)
Nasdaq Volume 2,179,625,000  (prior day 2,151,189,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,151.32 -11.98 -0.23% 
DAX 5,981.20 -0.07 -0.00% 
CAC 40 3,501.50 -1.58 -0.05% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,603.24 -108.59 -1.12% 
Hang Seng 19,471.80 -25.15 -0.13% 
Straits Times 2,727.57 +12.13 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks rebound on housing news; Oil shares jump

Stocks bounce higher after April homes sales increase 6 percent; Energy shares lead rebound *

Tim Paradis, AP Business Writer, On Wednesday June 2, 2010, 6:04 pm 

NEW YORK (AP) -- The stock market rebounded Wednesday following a stronger-than-expected increase in pending home sales and a recovery in shares of energy companies.

The Dow Jones industrial average rose about 226 points, its third biggest gain of 2010. Major indexes recovered the losses they suffered Tuesday shortly before the close, when the government announced criminal and civil investigations into the Gulf oil spill.

Energy stocks bounced back sharply after selling off the day before. Schlumberger, which provides services to oil companies, rose more than 8 percent, while Baker Hughes gained more than 10 percent.

Treasury prices fell, pushing up interest rates, after demand for riskier investments like stocks increased.

The upbeat report on home sales provided some hope on the nation's housing market. An increase in signed contracts for homes was due partly to a rush to meet a tax credit that expired in April. The National Association of Realtors said its index of signed contracts for existing homes rose 6 percent. The increase was ahead of the estimates of economists polled by Thomson Reuters.

"Anything that indicates more of a stabilization -- and not rapid declines -- in housing is probably a good thing," said Jason D. Pride, director of investment strategy at Glenmede in Philadelphia.

A rise in the euro from a four-year low Tuesday also drew buyers. Movements in the euro, which is used by 16 European countries, have often steered trading in the past month. The currency is seen as a reading on confidence in Europe's ability to contain a debt crisis that began in Greece, but has spread to other parts of Europe, including Spain and Portugal.

Stocks have been pounded in the last month by concerns that spending cuts in Europe would hobble a recovery in the global economy. After reaching a 2010 peak in late April, the Dow fell 7.9 percent last month for its worst May since 1940. The market has been logging big swings because traders are trying to determine how deep the retreat in stocks will be.

Even with the big gains Wednesday, analysts said the fractiousness isn't likely to soon disappear.

"It's a symptom of a market that doesn't have a lot of conviction about where it's going yet," said Dorsey Farr, co-founder of financial adviser French Wolf & Farr in Atlanta.

The Dow rose 225.52, or 2.3 percent, to 10,249.54 after falling 235 points in the two previous days.

Wednesday's climb was the biggest point and percentage climb for the Dow since Thursday, when the index advanced 285 points, or 2.9 percent. The index is still down 8.5 percent from its high this year on April 26.

The Standard & Poor's 500 index rose 27.67, or 2.6 percent, to 1,098.38, while the Nasdaq composite index climbed 58.74, or 2.6 percent, to 2,281.07.

Bond prices dropped. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.35 percent from 3.27 percent late Tuesday.

Crude oil rose 28 cents to $72.86 per barrel on the New York Mercantile Exchange. Gold fell.

Analysts warn that traders are still jittery and could resume selling on one disappointing headline. That's what occurred Tuesday when the news about the oil spill investigation erased the gains that had come from upbeat reports on manufacturing and construction spending.

Investors are now awaiting the Labor Department's monthly employment report, which is due Friday. It is widely regarded as the most important economic report each month because high unemployment remains a major obstacle to a sustained recovery.

Economists predict the unemployment rate dipped to 9.8 percent in May from 9.9 percent in April and that employers added 513,000 jobs.

Among stocks, Schlumberger Ltd. rose $4.56, or 8.8 percent, to $56.31. Baker Hughes Inc. advanced $3.76, or 10.5 percent, to $39.63. BP PLC rose $1.14, or 3.1 percent, to $37.66 after dropping nearly 15 percent Tuesday.

Builder KB Home rose 28 cents, or 2 percent, to $14.01, while Hovnanian Enterprises Inc. advanced 18 cents, or 3 percent, to $6.15.

Airlines rose following upbeat comments from analysts. Continental Airlines Inc. climbed $2.25, or 11.1 percent, to $22.54, while US Airways Group Inc. advanced 80 cents, or 9.3 percent, to $9.44.

Five stocks rose for every one that fell on the New York Stock Exchange, where consolidated fell to 5.1 billion shares compared with 5.3 billion Tuesday.

The Russell 2000 index of smaller companies rose 19.56, or 3.1 percent, to 660.52.

Britain's FTSE 100 fell 0.2 percent, while Germany's DAX index and France's CAC-40 each slipped less than 0.1 percent. Japan's Nikkei stock average dropped 1.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks rise for 2nd day after economic reports signal continuing rebound; Dow climbs 6 points 

Stocks closed higher for a second day Thursday after traders found room for optimism in mixed economic reports.

The Dow Jones industrial average rose about 6 points a day after leaping 226. It was the first back-to-back gain for the Dow since late April.

Stocks climbed on reports that business at the nation's services companies grew in May and that the number of people seeking first-time jobless claims slipped for a second week. The gains faded at times as the day wore on, but stocks recovered by the close as traders looked to the Labor Department's May jobs report on Friday.

*The NYSE DOW closed HIGHER +5.74 points +0.06% on Thursday June 3*
Sym. Last......... ........Change..........
Dow 10,255.28 +5.74 +0.06% 
Nasdaq 2,303.03 +21.96 +0.96% 
S&P 500 1,102.83 +4.45 +0.41% 
30-yr Bond 4.2880% +0.5000 

NYSE Volume 5,709,877,000  (prior day 5,892,672,500)
Nasdaq Volume 2,206,732,250  (prior day 2,179,625,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,211.18 +59.86 +1.16% 
DAX 6,054.63 +73.43 +1.23% 
CAC 40 3,557.34 +55.84 +1.59% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,914.19 +310.95 +3.24% 
Hang Seng 19,786.71 +314.91 +1.62% 
Straits Times 2,793.47 +65.90 +2.42% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks extend gain to 2nd day ahead of jobs report

Stocks rise for 2nd day after economic reports signal continuing rebound; Dow climbs 6 points *
Tim Paradis, AP Business Writer, On Thursday June 3, 2010, 5:57 pm EDT 

NEW YORK (AP) -- Stocks closed higher for a second day Thursday after traders found room for optimism in mixed economic reports.

The Dow Jones industrial average rose about 6 points a day after leaping 226. It was the first back-to-back gain for the Dow since late April.

Stocks climbed on reports that business at the nation's services companies grew in May and that the number of people seeking first-time jobless claims slipped for a second week. The gains faded at times as the day wore on, but stocks recovered by the close as traders looked to the Labor Department's May jobs report on Friday.

The employment report is the most closely watched item on the economic calendar. Economists predict that employers added 513,000 jobs in May. It would be the biggest jump in 26 years, but as many as 300,000 of the workers hired in May were expected to be temporary positions to help conduct the U.S. census. Still, even temporary hiring could bring a bump in consumer spending.

The economic news gave a boost to much of the market but energy stocks posted some of the biggest gains after the price of oil rose. Range Resources rose more than 6 percent, while Noble Energy added more than 5 percent.

Stocks have moved erratically in the past week after major indexes hit new trading lows for the year on May 25. It's still not clear whether the market has finished a slide that began in late April after stock indexes touched their highest points of the year.

The market has been vulnerable to swings because of worries about the economic fallout of the Gulf oil spill and the economic problems in Europe.

Bill Schultz, chief investment officer at McQueen, Ball & Associates in Bethlehem, Pa., said the gyrations are keeping some everyday investors from putting money into the market.

"They're seeing these whipsaw trades and for a lot of them it feels almost like a casino," he said.

The Dow rose 5.74, or 0.1 percent, to 10,255.28. The Dow's two-day gain of 231 points, or 2.3 percent, was the first since April 28-29.

The Standard & Poor's 500 index rose 4.45, or 0.4 percent, to 1,102.83, while the technology-focused Nasdaq composite index rose 21.96, or 1 percent, to 2,303.03.

About two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 5 billion shares compared with 5.1 billion Wednesday.

Bond prices slipped, sending interest rates higher. The yield on the benchmark 10-year Treasury note rose to 3.37 percent from 3.35 percent late Wednesday.

Crude oil rose $1.75 to $74.61 per barrel on the New York Mercantile Exchange. Gold fell.

In economic news, the Labor Department said first-time claims for unemployment benefits fell by 10,000 to 453,000 last week. The drop coincided with a report from payroll company ADP that said private employers added 55,000 jobs in May.

Both reports fell just short of economists' forecasts, but still showed some improvement in the job market.

The Institute for Supply Management's report on services businesses provides some hope that more jobs will be added in the coming months. The ISM's index remained steady at 55.4 last month. Any reading above 50 indicates growth. Its employment index signaled job growth in services for the first time in 28 months.

While service industries recover slowly, manufacturing continues to show some of the most consistent growth. The Commerce Department said factory orders rose by 1.2 percent in April. That was below the 1.8 percent gain forecast by economists polled by Thomson Reuters. The slowdown came after orders jumped in March by their highest levels in six years.

Among stocks, Range Resources Corp. rose $3.11, or 6.5 percent, to $51.01. Noble Energy Inc. climbed $3.26, or 5.4 percent, to $63.41.

The Russell 2000 index of smaller companies rose 6.85, or 1 percent, to 667.37.

Britain's FTSE 100 gained 1.2 percent, Germany's DAX index rose 1.2 percent, and France's CAC-40 climbed 1.6 percent. Japan's Nikkei stock average rose 3.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com

*For the week, the Dow lost 2 percent, its third straight weekly drop. The S&P 500 index fell 2.3 percent and the Nasdaq dropped 1.7 percent.*

Stock plunge to 4-month low on disappointing employment report and drop in euro; Dow falls 323 

Stocks fell to their lowest level in four months Friday after the government said hiring remains weak and another European country warned its economy was in trouble.

The Dow Jones industrial average dropped 323 points to close below 10,000. It was the lowest finish since February and the third-worst slide of the year.

Major indexes all lost more than 3 percent. The drop pushed the market back into "correction" mode, meaning a decline of at least 10 percent from a recent high.

*The NYSE DOW closed LOWER -323.31 points -3.15% on Friday June 4*
Sym. Last......... ........Change..........
Dow 9,931.97 -323.31 -3.15% 
Nasdaq 2,219.17 -83.86 -3.64% 
S&P 500 1,064.88 -37.95 -3.44% 
30-yr Bond 4.1190% -1.6900 

NYSE Volume 7,318,019,000  (prior day 5,709,877,000)
Nasdaq Volume 2,350,037,500  (prior day 2,206,732,250)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,126.00 -85.18 -1.63% 
DAX 5,938.88 -115.75 -1.91% 
CAC 40 3,455.61 -101.73 -2.86% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,901.19 -13.00 -0.13% 
Hang Seng 19,780.07 -6.64 -0.03% 
Straits Times 2,806.51 +13.04 +0.47% 

http://finance.yahoo.com/news/Disap...4.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Disappointing jobs report sends stocks sliding

Stock plunge to 4-month low on disappointing employment report and drop in euro; Dow falls 323 *

Stephen Bernard, AP Business Writer, On Friday June 4, 2010, 6:05 pm 

NEW YORK (AP) -- Stocks fell to their lowest level in four months Friday after the government said hiring remains weak and another European country warned its economy was in trouble.

The Dow Jones industrial average dropped 323 points to close below 10,000. It was the lowest finish since February and the third-worst slide of the year.

Major indexes all lost more than 3 percent. The drop pushed the market back into "correction" mode, meaning a decline of at least 10 percent from a recent high.

Interest rates slid after traders shoveled money into the safety of Treasurys and the dollar.

Retailers were among the hardest-hit stocks after investors bet that a weak job market would discourage consumers from spending. Macy's fell 6.5 percent. Financial stocks also fell sharply on concerns that borrowers would continue having problems paying their bills. Banks were hurt by more worries about their exposure to Europe's debt crisis. American Express lost 5.3 percent.

The government's May jobs report came as an unpleasant surprise for investors who had grown a little more upbeat about the domestic economy the past few days. The Labor Department said private employers hired just 41,000 workers in May, down dramatically from 218,000 in April and the lowest number since January. The news made it clear that the economic recovery isn't yet picking up the momentum that investors have been looking for.

The government said 431,000 jobs overall were created last month, but most of those them, 411,000, came from government hiring of temporary census workers. The overall number also fell short of expectations. Economists polled by Thomson Reuters had forecast employers would add 513,000 jobs.

"People are looking for one turning point," Daniel Penrod, senior industry analyst for the California Credit Union League, said of the monthly jobs report. "That's not realistic. This growth will be much slower and more gradual than in the past."

The unemployment rate fell to 9.7 percent from 9.9 percent in April. That was slightly better than the 9.8 percent unemployment rate economists had forecast.

The jobs report was the latest during the week to signal that the economy isn't as robust as hoped.

"It's almost as if the worst fears of the market were realized, at least in this one report," said Richard Sparks, senior equities analyst at Schaeffer's Investment Research.

The slowdown in hiring last month cast more doubt on how much consumers will be able to pick up their spending. A day earlier, retailers reported sluggish sales for May. Stocks of clothing retailers were among the big losers after the jobs report as traders bet shoppers would stick to buying necessities.

Credit card companies and regional banks also fell sharply.

Meanwhile, the spokesman for Hungary's new prime minister described the country's economy as being in a "grave" situation. He also said his government is ready to avoid a crisis like the one being faced by Greece, which had to be bailed out by the European Union. Spain and Portugal are also struggling.

The Dow fell 323.31, or 3.2 percent, to 9,931.97, its steepest drop since May 20. All 30 stocks that make up the index fell.

It was the Dow's third drop of more than 300 points this year, all of which occurred in the last month. The Dow is now down 11.4 percent from its 2010 peak of 11,205, which it reached on April 26.

The Standard & Poor's 500 index fell 37.95, or 3.4 percent, to 1,064.88. The index is down 12.5 percent from its 2010 high.

The Nasdaq composite index dropped 83.86, or 3.6 percent, to 2,219.17. It's down 12.3 percent from its high of the year.

Fewer than 300 of the nearly 3,000 stocks that trade on the New York Stock Exchange rose. Consolidated volume came to 6.3 billion shares compared with 5 billion Thursday.

Only three of the stocks in the S&P 500 index rose: Cephalon Inc., Frontier Communications Corp. and People's United Financial Inc.

For the week, the Dow lost 2 percent, its third straight weekly drop. The S&P 500 index fell 2.3 percent and the Nasdaq dropped 1.7 percent.

Investors moved money into safe investments including Treasurys because of the weak employment report and the faltering euro. The yield on the 10-year Treasury note, which moves opposite its price, fell to 3.21 percent from 3.37 percent late Thursday. The yield on the 10-year note is often used as a benchmark for consumer loans and mortgages.

Analysts say there is little in the way of economic news that could shake the market from its funk.

"It's hard to see over the next month what will make stocks rally," said Paul Zemsky, head of asset allocation at ING Investment Management in New York. It might not be until next month's employment report that investors get the kind of positive news that could propel stocks higher, he said.

Investors are also worrying about the impact that Europe's economic problems could have on the U.S. During the past month, investors have been preoccupied with rising debts in Europe, fearing they could hobble the regional economy and eventually the U.S.

"The events in Hungary are reminding the market that the problems with sovereign debt are a lingering affair," said Nick Kalivas, vice president of financial research at MF Global in Chicago. He added that reminders of Europe's debt crisis will pop up on occasion and send stocks lower, in much the way that the market faltered early in the subprime mortgage crisis.

"Until there's a resolution, we're just going to kind of have to deal with it," Kalivas said.

A drop in the euro, the currency used by 16 countries in Europe, contributed to stocks' slide. The euro fell as low as $1.1956, a four-year low. Hungary doesn't use the euro but the drop the currency was a sign of flagging confidence in Europe's economy.

The euro has fallen more than 10 percent since stocks peaked six weeks ago.

Overseas, Britain's FTSE 100 fell 1.8 percent, Germany's DAX index fell 1.9 percent, and France's CAC-40 dropped 2.9 percent. All three indexes rose early in the day.

Among retail stocks, Macy's Inc. fell $1.46, or 6.5 percent, to $21.03. JCPenney Stores Co. fell $1.59, or 5.9 percent, to $25.48 and Liz Claiborne Inc. slid 63 cents, or 10.2 percent, to $5.55.

Credit card issuers also dropped. American Express Co. fell $2.13, or 5.3 percent, to $38.41. Discover Financial Services Inc. fell 66 cents, or 4.9 percent, to $12.86. Regional banks, considered vulnerable to failed loans, also fell sharply. Key Corp. dropped 40 cents, or 4.9 percent, to $7.77. Regions Financial Corp. lost 51 cents, or 6.7 percent, to $7.13.

Oil prices fell sharply as investors pulled out of commodities, which like stocks are seen as risky assets. Investors were also wondering whether demand might fall if the economy is weaker than expected. Benchmark crude dropped $3.10 to $71.51 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller stocks fell 33.40, or 5 percent, to 633.97.

0976


----------



## bigdog

Source: http://finance.yahoo.com

Stocks fall to lowest level in 7 months on fears that Europe will hurt recovery; Dow falls 115

Traders gave in to another case of last-hour anxiety Monday and drove stocks to their lowest level in seven months.

The Dow Jones industrial average, down just 42 points at 3:15 p.m., was down 115, or 1.2 percent, by the close 45 minutes later. That extended the Dow's sharp drop from Friday, when it lost 323 in response to a disappointing May jobs report. Broader indexes had steeper percentage drops than the Dow on Monday. The technology-focused Nasdaq composite index fell 2 percent. Treasury prices rose as investors again went in search of safe investments.

There was no obvious catalyst for Monday's late slide, although traders were again preoccupied with Europe's economic problems. Traders know that Europe's business day begins before trading opens in the U.S., and they'd rather sell then wake up to an unpleasant surprise. The last-hour selling, which followed a similar move Friday, also recalled the 2008 financial crisis, when traders decided the best strategy was to dump stocks just before the close.

Monday's trading also showed how the market's own dynamics can trigger late selling. Shortly after 3 p.m., the Standard & Poor's 500 index fell below 1,056.74, what had been its low close for the year that it reached Feb. 8. That psychological blow encouraged many traders to sell, and as prices came down, computer "sell" programs kicked in, leading to more selling.

*The NYSE DOW closed LOWER -115.48 points -1.16% on Monday June 7*
Sym. Last......... ........Change..........
Dow 9,816.49 -115.48 -1.16% 
Nasdaq 2,173.90 -45.27 -2.04% 
S&P 500 1,050.47 -14.41 -1.35% 
30-yr Bond 4.1240% +0.0500 

NYSE Volume 6,378,761,000  (prior day 7,318,019,000)
Nasdaq Volume 2,217,523,250  (prior day 2,350,037,500)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,069.06 -56.94 -1.11% 
DAX 5,904.95 -33.93 -0.57% 
CAC 40 3,413.72 -41.89 -1.21% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,520.80 -380.39 -3.84% 
Hang Seng 19,378.15 -401.92 -2.03% 
Straits Times 2,751.88 -54.63 -1.95% 

http://finance.yahoo.com/news/Late-...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Late slide: Stocks fall in last hour, Dow down 115

Stocks fall to lowest level in 7 months on fears that Europe will hurt recovery; Dow falls 115 *

Tim Paradis, AP Business Writer, On Monday June 7, 2010, 6:39 pm 

NEW YORK (AP) -- Traders gave in to another case of last-hour anxiety Monday and drove stocks to their lowest level in seven months.

The Dow Jones industrial average, down just 42 points at 3:15 p.m., was down 115, or 1.2 percent, by the close 45 minutes later. That extended the Dow's sharp drop from Friday, when it lost 323 in response to a disappointing May jobs report. Broader indexes had steeper percentage drops than the Dow on Monday. The technology-focused Nasdaq composite index fell 2 percent. Treasury prices rose as investors again went in search of safe investments.

There was no obvious catalyst for Monday's late slide, although traders were again preoccupied with Europe's economic problems. Traders know that Europe's business day begins before trading opens in the U.S., and they'd rather sell then wake up to an unpleasant surprise. The last-hour selling, which followed a similar move Friday, also recalled the 2008 financial crisis, when traders decided the best strategy was to dump stocks just before the close.

Monday's trading also showed how the market's own dynamics can trigger late selling. Shortly after 3 p.m., the Standard & Poor's 500 index fell below 1,056.74, what had been its low close for the year that it reached Feb. 8. That psychological blow encouraged many traders to sell, and as prices came down, computer "sell" programs kicked in, leading to more selling.

Tech stocks, seen as some of the most vulnerable when the economy and the market are troubled, suffered some of the biggest losses. That explains the drop in the Nasdaq index.

But some stocks fell on their own bad news. Google Inc. was one of the big tech losers, falling 2.7 percent after Connecticut Attorney General Richard Blumenthal called on the company to "come clean" on its collection of personal and business data in the state for its mapping service.

Financial stocks fell after a commission examining the financial crisis issued a subpoena to Goldman Sachs Group Inc. Goldman fell 2.5 percent. And Bank of America Corp. lost 3.4 percent after news came out that the bank would pay $108 million to settle federal charges that its Countrywide Financial Corp. division had collected onerous fees from homeowners nearing foreclosure.

Utility and gold stocks were among the few gainers, a sign that traders want investments considered safe in weak economies. Utility company FirstEnergy Corp. rose 2.7 percent, while Barrick Gold Corp. climbed 4.1 percent.

"The market is playing defense and waiting for some resolution," said Mike Shea, managing partner at Direct Access Partners LLC in New York, pointing to the rise in gold stocks.

Some traders say the market isn't likely to stabilize until there is a better sense about how European countries will hold up under heavy cost-cutting that could hamper their economic growth. Traders again looked to the euro for guidance. The 16-nation currency hit another four-year low. It fell as low as $1.1878 before rising to $1.1926. A drop in the currency is seen as a sign of flagging confidence in Europe's ability to contain its debt without falling back into recession.

The Dow fell 115.48, or 1.2 percent, to 9,816.49. The Dow has fallen 4.3 percent in the past two days, its worst back-to-back slide since early May.

The S&P 500 index fell 14.41, or 1.4 percent, to 1,050.47.

It was the lowest close for the Dow and the S&P 500 index since Nov. 4.

The Nasdaq composite index fell 45.27, or 2 percent, to 2,173.90. The Nasdaq stands at its lowest level since Feb. 10.

Traders' worries, mostly about Europe, have pounded stocks since major indexes hit 2010 highs in late April. The Dow is down 12.4 percent since reaching 11,205 on April 26. The drop of more than 10 percent from the peak indicates a "correction." It's the first major drop since indexes bounced off 12-year lows in March last year. The Dow is up 49.9 percent from its March low.

Treasury prices extended their gains after surging Friday on concern about the employment numbers. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.15 percent from 3.21 percent late Friday.

The dollar, which has a reputation for safety, rose against most other currencies. Gold rose $23.10 to $1,240.80 an ounce.

Crude oil fell 7 cents to $71.44 per barrel on the New York Mercantile Exchange. Traders see commodities, like stocks, as riskier investments. So many commodities have suffered as the stock market has fallen.

Jim Thorne, chief investment officer for equities at MTB Investment Advisers in Baltimore, said traders are afraid they're seeing a repeat of the financial crisis of 2008. But Thorne said that although the jobs report Friday was disappointing, most numbers have pointed to an economy that is rebounding. The government said Friday that private employers hired just 41,000 workers in May, down from 218,000 in April and the lowest number since January.

"Right now the market is getting to the point where it's uninvestable. Fundamentals don't matter," Thorne said. "This is a period that will be looked back upon six to eight months from now as a wonderful investing opportunity."

Among bank stocks, Goldman fell $3.57, or 2.5 percent, to $138.68, while Bank of America fell 52 cents, or 3.4 percent, to $14.83.

FirstEnergy rose 94 cents, or 2.7 percent, to $36.16, while Barrick Gold rose $1.70, or 4.1 percent, to $43.12.

Google fell $13.20, or 2.7 percent, to $485.52.

Apple Inc. fell $5.02, or 2 percent, to $250.94 after CEO Steve Jobs said that the company's next iPhone would be thinner and have sharper screen resolution and longer battery life.

Nearly three stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume fell to 5.6 billion shares from 6.3 billion Friday.

The Russell 2000 index of smaller companies fell 15.48, or 2.4 percent, to 618.49.

Britain's FTSE 100 dropped 1.1 percent, Germany's DAX index fell 0.6 percent, and France's CAC-40 fell 1.2 percent. Japan's Nikkei stock average fell 3.8 percent in its first day of trading after U.S. markets tumbled Friday.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks turn higher in final hour of trading, giving market partial rebound from slide 

This time, the stock market had a late-day rally.

Most stocks surged in the final hour of trading Tuesday to give the Dow Jones industrials a gain of 123 points. That ended a two-day slump that sent the Dow down nearly 440 to a seven-month low.

The market's rebound was choppy although Federal Reserve Chairman Ben Bernanke set the tone for the day by saying he didn't expect the economy to go back into recession. The Standard & Poor's 500 index rose, but the Nasdaq composite index slipped as chipmakers fell on downbeat analyst comments.

Like the last two days, most of the action was in the last hour. Tuesday, however, it was buying that accelerated. The Dow was up only about 16 points shortly after 3 p.m., then soared 107 points in the final 43 minutes of trading.

*The NYSE DOW closed LOWER +123.49 points +1.26% on Tuesday June 8*
Sym. Last......... ........Change..........
Dow 9,939.98 +123.49 +1.26% 
Nasdaq 2,170.57 -3.33 -0.15% 
S&P 500 1,062.00 +11.53 +1.10% 
30-yr Bond 4.0950% -0.2900 

NYSE Volume 7,341,855,500  (prior day 6,378,761,000)
Nasdaq Volume 2,660,945,000  (prior day 2,217,523,250)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,028.15 -40.91 -0.81% 
DAX 5,868.55 -36.40 -0.62% 
CAC 40 3,380.36 -33.36 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,537.94 +17.14 +0.18% 
Hang Seng 19,487.48 +109.33 +0.56% 
Straits Times 2,746.61 -5.27 -0.19% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=3&asset=&ccode=

Stocks climb, not slide, in volatile last hour

Stocks turn higher in final hour of trading, giving market partial rebound from slide 

Stephen Bernard and Tim Paradis, AP Business Writers, On Tuesday June 8, 2010, 5:08 pm EDT 

NEW YORK (AP) -- This time, the stock market had a late-day rally.

Most stocks surged in the final hour of trading Tuesday to give the Dow Jones industrials a gain of 123 points. That ended a two-day slump that sent the Dow down nearly 440 to a seven-month low.

The market's rebound was choppy although Federal Reserve Chairman Ben Bernanke set the tone for the day by saying he didn't expect the economy to go back into recession. The Standard & Poor's 500 index rose, but the Nasdaq composite index slipped as chipmakers fell on downbeat analyst comments.

Like the last two days, most of the action was in the last hour. Tuesday, however, it was buying that accelerated. The Dow was up only about 16 points shortly after 3 p.m., then soared 107 points in the final 43 minutes of trading.

As was also the case Monday, there was no one catalyst for the late move. But the late rally itself drew buyers who had waited to see whether stocks would have another late-day slide. And computer programs also kicked in, with rising stocks triggering more buying -- the reverse of the computer selling seen the last two days.

Materials stocks rose after gold extended its gain, briefly touching a record $1,254.50. Chemical maker DuPont climbed 4.1 percent. Meanwhile, oil drilling companies slumped after President Barack Obama blasted the industry in an interview with NBC. Transocean, which owns the oil rig that exploded in the Gulf of Mexico and caused the still-spreading spill, fell 5.8 percent.

Tuesday's rally doesn't signal a change in the market's still-fragile mood. Uri Landesman, president of Platinum Partners in New York, said traders could go back to selling if more doubts arise about the recovery.

"People's tolerance for bad news is low," he said. "There is a reasonably high chance of bad headlines."

The Dow rose 123.49, or 1.3 percent, to 9,939.98. The Dow had fallen 4.3 percent in the two prior days to its lowest level since Nov. 4.

The S&P 500 index rose 11.53, or 1.1 percent, to 1,062.00. It also fell Monday to its lowest close since November. The S&P's two-day slide of 5.4 percent was its steepest since March 2009.

The Nasdaq fell 3.33, or 0.2 percent, to 2,170.57.

Three stocks rose for every two that fell on the New York Stock Exchange. Volume came to 1.6 billion shares, compared with 1.4 billion Monday.

Uncertainty about the global economy sent investors looking for safety in gold. There was less demand for the safety of Treasurys, however. The yield on the benchmark 10-year note, which moves opposite its price, rose to 3.19 percent from 3.15 percent late Monday.

Crude oil rose 55 cents to $71.99 per barrel on the New York Mercantile Exchange.

Bernanke said in a speech late Monday that he expects the U.S. recovery to continue, but he acknowledged it is unlikely to be robust.

"It won't feel terrific," Bernanke said.

The Fed releases its Beige Book report Wednesday, which provides a regional snapshot of economic activity.

The chairman's comments reassured traders following Friday's disappointing May jobs report. Bernanke's assessment also eased worries that a slowdown in Europe will spread across the Atlantic.

Traders again tracked movements of the euro. The 16-nation currency has become a measure of confidence in Europe's ability to contain its debt problems and keep its economy growing. The euro rose to $1.1969 a day after hitting a four-year low.

Barbara Marcin, manager at the Gabelli Blue Chip Value Fund in Rye, N.Y., said there have been so many swings in the market because traders are looking six to 12 months ahead to an economy that they believe will be just "mediocre."

She expects questions about the economy to continue to hit stocks for the near future.

"I don't know how you cannot think you're going to have an extremely volatile six months coming up," Marcin said.

Among chip stocks, Intel Corp. fell 13 cents, or 0.6 percent, to $20.18 Marvell Technology Group Ltd. fell 85 cents, or 4.7 percent, to $17.21, while Nvidia Corp. dropped 32 cents, or 2.8 percent, to $11.18.

Materials stocks got a boost from the rise in gold and a rebound in copper. DuPont rose $1.40, or 4.1 percent, to $35.49. Freeport-McMoRan Copper & Gold Inc. rose $2.82, or 4.8 percent, to $61.48.

Oil drilling companies fell after analysts also warned that a ban on deepwater drilling tied to the Gulf oil spill could be extended beyond six months. Obama's comments also brought more bad attention to drillers.

"I don't sit around just talking to experts because this is a college seminar, we talk to these folks because they potentially have the best answers -- so I know whose ass to kick," Obama said.

Transocean Corp. fell $2.84, or 5.8 percent, to $46.33. Analysts lowered their ratings on Diamond Offshore Drilling. The stock fell $2.27, or 3.8 percent, to $56.94.

BP PLC, which operated the rig, fell $2.08, or 5.7 percent, to $34.68.

The Russell 2000 index of smaller companies fell 0.80, or 0.1 percent, to 617.69.

Britain's FTSE 100 fell 0.8 percent, Germany's DAX index fell 0.6 percent, and France's CAC-40 dropped 1 percent. Japan's Nikkei stock average rose 0.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks give up early gains after BP drops 15.8 percent on fears about costs of Gulf clean-up 

The stock market had another late-day slide, this time because of fears that the Gulf oil spill will threaten BP's dividend and perhaps land the company in bankruptcy court.

The Dow Jones industrials, up about 125 points late Wednesday morning, closed down 41. Most selling came in the last hour, the third time in four days that stocks had a late-day drop.

Investors got a "sell" signal from news reports that raised the possibility of worsening financial fallout from the oil spill. A group of about 30 U.S. lawmakers sent a letter to BP CEO Tony Hayward asking him to halt dividend payments and advertising until the leaking well is capped and the spill is cleaned up. Investors tend to sell any time a company's dividend appears to be in jeopardy. BP is scheduled to make a $2.63 billion payout on June 21.

*The NYSE DOW closed LOWER -40.73 points -0.41% on Wednesday June 9*
Sym. Last......... ........Change..........
Dow 9,899.25 -40.73 -0.41% 
Nasdaq 2,158.85 -11.72 -0.54% 
S&P 500 1,055.69 -6.31 -0.59% 
30-yr Bond 4.1190% +0.2400 

NYSE Volume 7,174,760,000  (prior day 7,341,855,500)
Nasdaq Volume 2,277,749,000  (prior day 2,660,945,000)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,085.86 +57.71 +1.15% 
DAX 5,984.75 +116.20 +1.98% 
CAC 40 3,446.77 +66.41 +1.96% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,439.13 -98.81 -1.04% 
Hang Seng 19,621.24 +133.76 +0.69% 
Straits Times 2,745.80 -0.81 -0.03% 

http://finance.yahoo.com/news/Drop-...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Drop in energy stocks punctures early market rally

Stocks give up early gains after BP drops 15.8 percent on fears about costs of Gulf clean-up *

Tim Paradis and Stevenson Jacobs, AP Business Writers, On Wednesday June 9, 2010, 6:19 pm 

NEW YORK (AP) -- The stock market had another late-day slide, this time because of fears that the Gulf oil spill will threaten BP's dividend and perhaps land the company in bankruptcy court.

The Dow Jones industrials, up about 125 points late Wednesday morning, closed down 41. Most selling came in the last hour, the third time in four days that stocks had a late-day drop.

Investors got a "sell" signal from news reports that raised the possibility of worsening financial fallout from the oil spill. A group of about 30 U.S. lawmakers sent a letter to BP CEO Tony Hayward asking him to halt dividend payments and advertising until the leaking well is capped and the spill is cleaned up. Investors tend to sell any time a company's dividend appears to be in jeopardy. BP is scheduled to make a $2.63 billion payout on June 21.

And Fortune.com quoted an analyst as saying BP could be forced to seek bankruptcy protection within about a month.

The worries about BP were enough to make investors shrug off reassuring words about the economy early in the day from Federal Reserve Chairman Ben Bernanke. BP fell 15.8 percent to a 14-year low and selling spread to other energy companies. Anadarko Petroleum Corp., a part-owner of the rig that caused the spill, dropped 18.6 percent.

The slide in energy stocks halted the market's upward momentum, said Peter Boockvar, equity strategist at Miller Tabak.

"The oil stocks are getting killed. They're widely owned so anytime you see that kind of activity it makes people nervous," Boockvar said.

The drop came a day after the Dow climbed 123 points on easing concerns that the economy would fall back into recession. The confidence extended into the first part of trading Wednesday, lifting the Dow back above 10,000, after Bernanke said debt problems in Europe might only amount to a "modest" drag on the U.S. economy if the financial markets can halt their slide.

He told the House Budget Committee that the economy is getting better but that job growth is likely to remain weak. The enthusiasm over his testimony faded after speculation arose that BP might not be able to recover from the oil spill.

Many traders have been anxious since last month that problems from the Gulf spill to spending cuts in Europe would slow the economic recovery. The concerns have pounded U.S. stocks since they set 2010 highs in late April. They are down more than 10 percent since then, a drop that's known as a "correction."

David Chalupnik, head of equities at First American Funds in Minneapolis, said it's most likely that Bernanke is right that the economy will continue to recover but that trading will remain choppy. He said traders won't get a better sense about how the economy is holding up until July when earnings reports and more economic numbers come out.

"We're probably in the fifth inning of the correction. Maybe the sixth inning," Chalupnik said. "The next month, I think, is just going to be extremely volatile."

The Dow fell 40.73, or 0.4 percent, to 9,899.25 after trading as high as 10,065.14. It is down 1,306 points, or 11.7 percent, from its 2010 high of 11,205, reached April 26.

The Standard & Poor's 500 index fell 6.31, or 0.6 percent, to 1,055.69, while the Nasdaq composite index fell 11.72, or 0.5 percent, to 2,158.85.

Despite the drop in major indexes, advancing stocks narrowly outpaced those that fell on the New York Stock Exchange. Consolidated trading volume fell to 6.2 billion shares from 6.3 billion Tuesday.

The late selling sent traders back into the safety of Treasurys. That pushed interest rates lower. The yield on the benchmark 10-year Treasury note slipped to 3.18 percent from 3.19 percent late Tuesday.

Gold prices retreated Wednesday after setting a record high a day earlier. Gold fell $15.70 to $1,229.90 an ounce. It rose as high as $1,254.40 an ounce on Tuesday.

Crude oil rose $2.39, or 3.3 percent, to $74.38 per barrel on the New York Mercantile Exchange.

The drop in stocks accelerated after the euro dipped below $1.20, said Michael O'Rourke, chief market strategist at institutional broker dealer BTIG LLC in New York.

The 16-nation currency has been under pressure on worries about Europe's growth prospects and the economic effects of deep cuts in government spending there. Investors are worried that could undercut U.S. economic recovery.

"We've been very much tethered to the euro. Every time it goes lower, our equity market turns lower," O'Rourke said.

The market's slump overshadowed a Fed report that the U.S. economy strengthened in all 12 of the central bank's regions. That hasn't happened since before the recession began in December 2007. Manufacturing, retail sales and tourism improved, while demand for housing rose because of the homebuyer tax credit that expired at the end of April. The Beige Book survey precedes the next meeting of the Fed's interest rate committee by two weeks.

BP PLC fell $5.48, or $15.80, to $29.20, while Anadarko Petroleum fell $7.97, or 18.6 percent, to $34.83.

Britain's FTSE 100 rose 1.2 percent, Germany's DAX index and France's CAC-40 each rose 2 percent. Japan's Nikkei stock average fell 1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks jump on US jobless numbers, China export gain; Dow climbs 273 point to close above 10K

Investors sent the Dow Jones industrials back above 10,000 after a stream of upbeat economic news convinced them that maybe things aren't so bad after all.

The Dow rose 273 points to 10,172. All the major indexes climbed more than 2.5 percent. Falling Treasury prices pushed interest rates higher as demand for safe investments eased.

Energy stocks led the market higher after they slid late Wednesday on concerns that BP would be forced to cut its dividend because of the Gulf of Mexico oil spill. BP PLC rose 12.3 percent from a 14-year low, while Anadarko Petroleum Corp., which has a minority stake in the rig that caused the spill, rose 12.4 percent.

*The NYSE DOW closed HIGHER +273.28 points +2.76% on Thursday June 10*
Sym. Last......... ........Change..........
Dow 10,172.53 +273.28 +2.76% 
Nasdaq 2,218.71 +59.86 +2.77% 
S&P 500 1,086.84 +31.15 +2.95% 
30-yr Bond 4.2410% +1.2200 

NYSE Volume 6,040,905,000  (prior day 7,174,760,000)
Nasdaq Volume 2,168,023,250  (prior day 2,277,749,000)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,132.50 +46.64 +0.92% 
DAX 6,056.59 +71.84 +1.20% 
CAC 40 3,516.64 +69.87 +2.03% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,542.65 +103.52 +1.10% 
Hang Seng 19,632.70 +11.46 +0.06% 
Straits Times 2,779.58 +33.78 +1.23% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks surge on US jobs data, China trade growth

Stocks jump on US jobless numbers, China export gain; Dow climbs 273 point to close above 10K *

Tim Paradis, AP Business Writer, On Thursday June 10, 2010, 5:58 pm EDT 

NEW YORK (AP) -- Investors sent the Dow Jones industrials back above 10,000 after a stream of upbeat economic news convinced them that maybe things aren't so bad after all.

The Dow rose 273 points to 10,172. All the major indexes climbed more than 2.5 percent. Falling Treasury prices pushed interest rates higher as demand for safe investments eased.

Energy stocks led the market higher after they slid late Wednesday on concerns that BP would be forced to cut its dividend because of the Gulf of Mexico oil spill. BP PLC rose 12.3 percent from a 14-year low, while Anadarko Petroleum Corp., which has a minority stake in the rig that caused the spill, rose 12.4 percent.

Most bank stocks rose but Goldman Sachs Group Inc. fell 2.2 percent to its lowest level in a year following news reports that it was target of another investigation by the Securities and Exchange Commission. The SEC has already filed civil fraud charges against the company. The company has denied wrongdoing.

Investors have pounded stocks for more than a month because of concerns that Europe's sovereign debt crisis would slow a rebound worldwide. Thursday's advance was the latest swing in a market that has been volatile for weeks, including three late-day slides in the past four days. Some of the advance could be coming from what's known as "short-covering." That's when traders are forced to buy stock after having earlier sold borrowed shares in a bet that the market would fall. The moves can add to the market's climb.

Markets around the world rose after China said exports rose 48.5 percent in May, while imports jumped 48.3 percent. The increase in trade provides some relief to fears that debt problems in Europe would halt a global economic recovery. The 27-nation European Union is China's largest trading partner. China has said it wanted to cool its economy to keep it from getting overheated. Traders had grown concerned that China would inadvertently slow growth too much and hurt a global rebound.

"China so far has been able to pull this off," said John Apruzzese, partner and equity portfolio manager at Evercore Wealth Management in New York. "There's more focus on Europe but I think it's more about China."

The Dow rose 273.28, or 2.8 percent, to 10,172.53. It was the Dow's first close above 10,000 this week and its biggest gain since May 27 when it climbed nearly 285 points after China said it didn't plan to sell its European government bonds.

The Standard & Poor's 500 index rose 31.15, or 3 percent, to 1,086.84, while the Nasdaq composite index rose 59.86, or 2.8 percent, to 2,218.71.

Brian Lazorishak, portfolio manager at Chase Investment Council in Charlottesville, Va., said he wants to see the market at least hold its gains for a few days before he considers Thursday's advance as more than a blip.

"We've all become a little gun-shy," he said.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.33 percent from 3.18 percent late Wednesday.

The euro, used by 16 countries in Europe, rose to $1.2111. The currency has become an indicator of investor confidence in Europe's ability to cut debt without spoiling a recovery.

Traders grew more confident that a global rebound was intact. Beyond the news out of China, Japan's economy grew faster than expected in the first three months of the year. In Australia, the government said full-time employment rose for a ninth consecutive month in May.

While investors worry about Europe's debt problems, there are also concerns about the job market in the U.S. An unemployment rate of 9.7 percent remains one of the biggest obstacles to a strong domestic rebound.

The Labor Department said new claims for unemployment fell by 3,000 to a seasonally adjusted 456,000. While that figure fell short of economists' forecast, traders were heartened by numbers showing total claims last week dropped by the largest amount in almost a year. Total unemployment benefit rolls fell by 255,000 to 4.5 million.

On its face, the drop is good news but there it also could indicate that people have run out of their state benefits and are moving to longer-term federal benefits. Still, the drop in total claims provides some hope that laid-off workers are starting to find jobs. It was welcome relief after the Labor Department said last week that private employers slowed their hiring in May to the lowest level since January.

Crude oil rose $1.10 to $75.48 per barrel on the New York Mercantile Exchange. It was the first close above $75 in about a month. Gold fell.

Among energy stocks, BP PLC rose $3.58, or 12.3 percent, to $32.78, while Anadarko rose $4.32, or 12.4 percent, to $39.15.

Goldman fell $3.03, or 2.2 percent, to $133.77. It traded as low as $131.30, below a previous 12-month low of $134.20.

About 2,700 stocks rose on the New York Stock Exchange, while only about 375 fell. Consolidated volume fell to 5.2 billion shares from 6.2 billion Wednesday.

The Russell 2000 index of smaller companies rose 21.50, or 3.5 percent, to 639.79.

Britain's FTSE 100 rose 0.9 percent, Germany's DAX index rose 1.2 percent, and France's CAC-40 rose 2 percent. Japan's Nikkei stock average rose 1.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow's climb of 279 points, or 2.8 percent, during the week was its best since the week ended Feb. 19. For the week, the S&P 500 index rose 2.5 percent and the Nasdaq rose 1.1 percent.

The Dow Jones industrial average has logged its first winning week in a month.

The Dow rose 39 points Friday and ended the week with a gain of 2.8 percent, its best weekly advance since mid-February. The market slid in morning trading on disappointing retail sales numbers but started to pare its losses after a report found consumers are gaining confidence in the economy. The market climbed in the last hour of trading to end near the highs of the day.

Treasury prices rose, pushing down interest rates, after spiking on Thursday.

*The NYSE DOW closed HIGHER +38.54 points +0.38% on Friday June 11*
Sym. Last......... ........Change..........
Dow 10,211.07 +38.54 +0.38% 
Nasdaq 2,243.60 +24.89 +1.12% 
S&P 500 1,091.60 +4.76 +0.44% 
30-yr Bond 4.1350% -1.0600 

NYSE Volume 4,688,028,000  (prior day 6,040,905,000)
Nasdaq Volume 1,824,646,250   (prior day 2,168,023,250)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,163.68 +31.18 +0.61% 
DAX 6,047.83 -8.76 -0.14% 
CAC 40 3,555.52 +38.88 +1.11% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,705.25 +162.60 +1.70% 
Hang Seng 19,872.38 +239.68 +1.22% 
Straits Times 2,796.29 +16.71 +0.60% 

http://finance.yahoo.com/news/Dow-p...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Dow posts first weekly gain in nearly a month

Dow snaps 3-week losing streak; Traders look past weak retail sales to improved consumer mood *

Stephen Bernard, AP Business Writer, On Friday June 11, 2010, 5:47 pm 
NEW YORK (AP) -- The Dow Jones industrial average has logged its first winning week in a month.

The Dow rose 39 points Friday and ended the week with a gain of 2.8 percent, its best weekly advance since mid-February. The market slid in morning trading on disappointing retail sales numbers but started to pare its losses after a report found consumers are gaining confidence in the economy. The market climbed in the last hour of trading to end near the highs of the day.

Treasury prices rose, pushing down interest rates, after spiking on Thursday.

The preliminary Reuters/University of Michigan consumer sentiment index for June showed consumer confidence rose to its highest level since January 2008 and came in well ahead of forecasts. The jump in confidence was an encouraging sign, but still doesn't signal the all-clear for the economy, said Michael Sheldon, chief market strategist at RDM Financial Group in Westport, Conn.

"We recovered some lost ground, but there is still some ways to go," Sheldon said. That was evident in the disappointing retail sales report, which initially sent stocks lower.

The government reported that retail sales fell 1.2 percent in May. It was the first drop in eight months. It was a surprise to economists who had predicted the pace of growth would slow between April and May, but still rise.

Companies dependent on consumer spending fell after the report. Proctor & Gamble Co., which makes Tide detergent and Gillette razors, lost 1.5 percent. J.C.Penney Co. fell 1.1 percent, while Macy's Inc. shares also slipped.

Technology shares got a boost after handset maker Motorola Inc. settled a patent dispute with Research In Motion Ltd. Motorola climbed 4 percent, while Research In Motion added less than 1 percent.

The mixed reports come a day after stocks surged on upbeat global economic figures. The day's swings extended the volatility that has been seen in recent weeks. The Dow climbed 279 points Thursday on reports from China, Japan and Australia that indicated the global economy continues to improve.

Despite the gains Friday, analysts said traders aren't on edge. "The market is nervous," said Joe Heider, principal at Rehmann Financial in Cleveland. "It's reacting on a day-to-day basis."

Heider said the economy is not growing fast enough to overcome the concerns about Europe's debt crisis and other issues such as the oil spill in the Gulf of Mexico. That has led to fluctuations in the market, often within the same day. As it has done for most of the week, the market shifted direction in the final hour of trading Friday.

The Dow rose 38.54, or 0.4 percent, to 10,211.07. It had fallen nearly 90 points in morning trading. The Dow's climb of 279 points, or 2.8 percent, during the week was its best since the week ended Feb. 19.

The Standard & Poor's 500 index rose 4.76, or 0.4 percent, to 1,091.60, while the tech-heavy Nasdaq composite index rose 24.89, or 1.1 percent, to 2,243.60.

For the week, the S&P 500 index rose 2.5 percent and the Nasdaq rose 1.1 percent.

Nearly three stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 4.1 billion shares, compared with 5.2 billion Thursday.

Treasury prices rose as some investors sought safety following the retail sales report. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.24 percent from 3.33 percent late Thursday.

Friday's reports follow a trend over the past month showing an uneven recovery, which has added concern to a market that is already struggling with worries about the health of Europe's economy. The Dow has mostly fallen since late April as investors worry about whether debt problems and steep government spending cuts in countries like Greece, Spain, Portugal and Hungary will slow Europe's economy so much that the economic slump would spread around the globe.

The euro's level against other currencies has become a key indicator of confidence in European governments' ability to resolve their fiscal problems. The currency, which is used by 16 countries, was little-changed against the dollar. It stood at $1.2108 late Friday.

Analysts say everyday investors, in particular, are still nervous about the market and economy, and are sitting on the sidelines. That leaves institutional investors as the main players in the stock market, which explains why volatility has been so high.

Institutional traders' "sense of long-term holding is in minutes," said Bob Tull, chief operating officer of Old Mutual Global Index Trackers. The quick trades and constant movement of professional money managers means stocks are bound to gyrate more than if there is a steady flow of cash from retail investors heading into the market.

Proctor & Gamble fell 90 cents to $61.01. J.C.Penney dropped 28 cents to $25.99, while Macy's fell 4 cents to $21.24.

Motorola rose 27 cents to $7.11. Research in Motion shares rose 39 cents to $59.50.

Crude oil fell $1.70 to $73.78 per barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 9.21, or 1.4 percent, to 649.00. For the week, the Russell rose 2.8 percent.

Britain's FTSE 100 rose 0.6 percent, Germany's DAX index fell 0.1 percent, and France's CAC-40 rose 1.1 percent. Japan's Nikkei stock average rose 1.7 percent.

1467


----------



## bigdog

Source: http://finance.yahoo.com

Stocks faltered in the last hour of trading Monday after investors gave in to anxiety about Europe's economy.

The Dow Jones industrial average erased an early gain of 118 points to end down 20. The Standard & Poor's 500 also fell slightly, while the Nasdaq composite rose less than a point.

Stocks began the day higher following a report that industrial production in the 16 countries that use the euro grew more than expected in April. That boosted confidence that Europe could solve its debt problems and pushed the euro above $1.22 for the first time since June 4.

*The NYSE DOW closed LOWER -20.18 points -0.20% on Monday June 14*
Sym. Last......... ........Change..........
Dow 10,190.89 -20.18 -0.20% 
Nasdaq 2,243.96 +0.36 +0.02% 
S&P 500 1,089.63 -1.97 -0.18% 
30-yr Bond 4.2010% +0.6600 

NYSE Volume 5,168,702,000  (prior day 4,688,028,000)
Nasdaq Volume 1,899,194,875  (prior day 1,824,646,250)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,202.13 +38.45 +0.74% 
DAX 6,125.00 +77.17 +1.28% 
CAC 40 3,626.04 +70.52 +1.98% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,879.85 +174.60 +1.80% 
Hang Seng 20,051.91 +179.53 +0.90% 
Straits Times 2,818.07 +21.78 +0.78% 

http://finance.yahoo.com/news/Stocks-falter-in-last-hour-apf-2463073912.html?x=0&.v=22

*Stocks falter in last hour; trader anxiety sets in

Stocks falter, giving market a mixed close, as traders give in to final-hour anxiety*

Tim Paradis, AP Business Writer, On Monday June 14, 2010, 5:05 pm 

NEW YORK (AP) -- Stocks faltered in the last hour of trading Monday after investors gave in to anxiety about Europe's economy.

The Dow Jones industrial average erased an early gain of 118 points to end down 20. The Standard & Poor's 500 also fell slightly, while the Nasdaq composite rose less than a point.

Stocks began the day higher following a report that industrial production in the 16 countries that use the euro grew more than expected in April. That boosted confidence that Europe could solve its debt problems and pushed the euro above $1.22 for the first time since June 4.

Investors have been concerned that government spending cuts aimed at slashing debt would hurt Europe and slow a global recovery. However, there have been few signs so far that the steep budget cuts needed to contain rising debt in countries like Greece, Spain and Portugal have slowed economies around the world.

Greece is still enough of a concern that bad news about the country's well-known problems was enough to help take down the market's advance. Traders at first shrugged off news that credit rating agency Moody's lowered its rating on Greece's debt to "junk" status. But in the final hour, many traders apparently decided the safest move was to take money out of the market. They were particularly uneasy after the Dow had risen 312 points in the prior two days.

The downgrade of Greece's debt wasn't the first and analysts said the market's response signals that traders are still jittery about Europe.

"When you have ratings downgrades, it's the proverbial fire truck arriving at the barn after it has burned down," said Kent Engelke, chief economic strategist at Capitol Securities Management in Glen Allen, Va. "Ultimately, economic activity will trump these other fears facing the market."

Bank stocks fell on concerns about European debt and about a financial overhaul bill in Congress. Some traders are worried that the merged version of the House and Senate financial overhaul bills will be tougher on banks than analysts had anticipated. Tighter restrictions could cut into profits. JPMorgan Chase & Co. fell 2 percent, while Goldman Sachs Group Inc. lost 1.6 percent.

The early advance came on light trading volume. That left the market vulnerable because many traders want to see more investors buying in as a sign of growing confidence.

Dan Wantrobski, director of technical research at Janney Montgomery Scott in Philadelphia, expects the markets to be choppy for some time. He warned that the back-and-forth trading could push skittish investors from the market and raise the chances that the market slides again this summer.

"The longer we wait here in this kind of purgatory, the more the likelihood we can break through," he said, referring to another drop in the markets. He wouldn't be surprised to see the Standard & Poor's 500 index fall to the 950-1,000 level this summer. That's a drop of 8 percent to 13 percent.

The Dow fell 20.18, or 0.2 percent, to 10,190.89. The Dow hasn't risen three straight days since April.

The S&P 500 index fell 1.97, or 0.2 percent, to 1,089.63, while the Nasdaq composite index rose 0.36, or less than 0.1 percent, to 2,243.96.

Winning stocks outpaced losers by 3 to 2 on the New York Stock Exchange. Volume came to 1.1 billion shares compared with 1 billion Friday.

The market is coming off its best week since mid-February. The Dow jumped 2.8 percent last week in volatile trading, ending a three-week losing streak. The gains didn't come from a steady climb, however. Stocks routinely sold off or rallied during the final hours of trading each day.

Bond prices fell Monday but pulled off their lows after the gains in stocks began to slide. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.27 percent from 3.24 percent late Friday.

Crude oil rose $1.34 to $75.12 per barrel on the New York Mercantile Exchange. Gold fell.

JPMorgan fell 76 cents, or 2 percent, to $37.33, while Goldman fell $2.20, or 1.6 percent, to $133.44.

Shares of BP PLC and Transocean Ltd. fell because of the fallout from the Gulf of Mexico oil spill. BP shares dropped $3.30, or 9.7 percent, to $30.67 on concerns that the company will suspend its dividend to ease political pressure it is facing in the U.S. Transocean Ltd., owner of the rig that exploded and set off the leak, fell $2.07, or 4.4 percent, to $44.78.

The Russell 2000 index of smaller companies rose 3.27, or 0.5 percent, to 652.27.

Britain's FTSE 100 rose 0.7 percent, Germany's DAX index gained 1.3 percent, and France's CAC-40 rose 2 percent. Japan's Nikkei stock average rose 1.8 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Industrial and technology stocks pulled the market sharply higher Tuesday after Boeing Co. said it was boosting production and an industry group forecast that demand for computers would increase.

The Dow Jones industrial average rose 213 points to its highest close since May 19 and had their third advance in four days. Major stock indexes rose more than 2 percent.

The advance was broad, but came on light trading volume. That's a sign that many traders are staying out of the market while they wait to see if stocks will keep moving higher after weeks of erratic trading.

*The NYSE DOW closed HIGHER +213.88  points +2.10% on Tuesday June 15*
Sym. Last......... ........Change..........
Dow 10,404.77 +213.88 +2.10% 
Nasdaq 2,305.88 +61.92 +2.76% 
S&P 500 1,115.23 +25.60 +2.35% 
30-yr Bond 4.2300% +0.2900 

NYSE Volume 5,299,700,500 (prior day  5,168,702,000)
Nasdaq Volume 2,257,801,750  (prior day 1,899,194,875)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,217.82 +15.69 +0.30% 
DAX 6,175.05 +50.05 +0.82% 
CAC 40 3,661.51 +35.47 +0.98% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,887.89 +8.04 +0.08% 
Hang Seng 20,062.15 +10.24 +0.05% 
Straits Times 2,818.21 +0.14 +0.00% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks see broad gains; Industrials, tech climb

Industrial, technology stocks lift market on signs of increasing demand; Dow rises 213 * 

Tim Paradis, AP Business Writer, On Tuesday June 15, 2010, 6:14 pm EDT 

NEW YORK (AP) -- Industrial and technology stocks pulled the market sharply higher Tuesday after Boeing Co. said it was boosting production and an industry group forecast that demand for computers would increase.

The Dow Jones industrial average rose 213 points to its highest close since May 19 and had their third advance in four days. Major stock indexes rose more than 2 percent.

The advance was broad, but came on light trading volume. That's a sign that many traders are staying out of the market while they wait to see if stocks will keep moving higher after weeks of erratic trading.

Industrials made some of the biggest moves following upbeat news from Boeing Co. and Illinois Tool Works Inc. Boeing rose 4.1 percent after increasing production of the 737 jet. Boeing said customers are adding to existing orders and placing new ones. ITW rose about 2.5 percent after it raised the lower end of its fiscal second-quarter earnings target.

More good news on industrials came from the New York Federal Reserve, which said regional manufacturing expanded for an 11th straight month in June.

"We're still seeing factories and manufacturing help provide a little stimulus for the economy here," said Michael Church, president at Addison Capital Group in Philadelphia.

Technology stocks got a boost after research firm International Data Corp. raised its forecast for personal computer shipments for 2010. IDC said shipments will be up almost 20 percent from 2010, compared with a forecast of a 15 percent increase made in April. Microsoft Corp. rose 4.3 percent and Hewlett Packard Co. rose 2.4 percent.

A gain in the euro and a drop in the dollar signaled that traders are less worried that debt problems in Europe will disrupt a global recovery. The euro, which is seen as measure of investors' confidence in the European economy, traded at $1.2339. Last week, it fell to a four-year low of $1.1878.

Stocks had dropped along with the euro since May amid growing concerns that weaker European countries such as Greece would default on debt. Investors also were afraid that the budget cuts that countries including Greece, Spain and Portugal have had to implement will slow their economic growth. The concern was that growth across the continent and the rest of the world would also be hurt.

Tuesday's trading shows that investors have started to put aside some of their uneasiness about Europe and focus on continuing signs of strength in the U.S. Still, the market is susceptible to troubling headlines. On Monday, stocks gave up steep gains, partly because Moody's cut its rating on Greece's debt to "junk" status.

Investors are also ready to punish stocks of companies that have disappointing news. Best Buy Co. fell 6.1 percent Tuesday after the electronics chain posted weaker-than-expected earnings.

Analysts have predicted that the market's choppy trading of the past two months is likely to continue until investors feel more secure about the global economy. The Dow has had 24 triple-digit moves in the 35 trading days since it reached a 2010 high of 11,205.03 on April 26.

The Dow rose 213.88, or 2.1 percent, to 10,404.77. The broader Standard & Poor's 500 index rose 25.60, or 2.4 percent, to 1,115.23,

The Standard & Poor's 500 index moved above its average close of the past 200 days, 1,108. The 200-day moving average is a technical level watched by many traders. Pushing above that is seen as a sign of strength in the market. Gains in stocks faded Monday in part after the S&P 500 index failed to top the mark.

The tech-dominated Nasdaq composite index rose 61.92, or 2.8 percent, to 2,305.88.

Bond prices fell and drove up interest rates after stocks climbed. The yield on the benchmark 10-year Treasury note rose to 3.31 percent from 3.26 percent late Monday.

Andrew Neale, head of portfolio management at Fogel Neale Partners in New York, is skeptical that the market's climb will hold. He noted that many individual investors are growing weary of the market's sharp swings and are pulling money out of mutual funds and other investments. That means the gains are being driven largely by professional traders.

"We don't see any real retail buying," Neale said, referring to individual investors. "We're advising our clients to be very cautious with the market."

Boeing climbed $2.66, or 4.1 percent, to $67.48 and Illinois Tool rose $1.13, or 2.5 percent, to $46.78.

Microsoft Corp. rose $1.09, or 4.3 percent, to $26.58. Hewlett Packard rose $1.10 to $47.98.

Best Buy's fiscal first-quarter net income and revenue fell short of analysts' expectations, but the company reiterated its fiscal 2011 forecast. The report brought concerns that consumers will cut spending and hurt a U.S. recovery. Best Buy fell $2.49, or 6.1 percent, to $38.56.

Shares of BP PLC rose 73 cents, or 2.4 percent, to $31.40 after falling 10 percent Monday when concerns grew about stepped-up political pressure in the U.S. to set aside money for costs related to the Gulf of Mexico oil spill that began April 20 when a rig operated by BP exploded. On Tuesday, credit ratings agency Fitch cut its rating on the oil company's debt. Fitch cited concerns about rising costs tied to the spill.

Commodities rose as investors were again tempted by investments seen as riskier. The prospect of a stronger global economy also lifted demand for metals and energy. Benchmark crude for July delivery rose $1.82 to settle at $76.94 a barrel on the New York Mercantile Exchange. Copper for July delivery rose 1.25 cents, or 0.42 percent, to settle at $3.0045 a pound.

The Russell 2000 index of smaller companies rose 16.50, or 2.5 percent, to 668.77.

Six stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 4.7 billion shares, versus 4.5 billion shares the day before.

Britain's FTSE 100 climbed 0.3 percent, Germany's DAX index rose 0.8 percent, and France's CAC-40 rose 1 percent. Japan's Nikkei stock average finished up 0.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

BP's agreement to put $20 billion into a fund for victims of the Gulf of Mexico oil spill lifted the stock market off its lows and sent the major indexes to a narrowly mixed finish.

The oil company also said Wednesday it has canceled a dividend payment totaling about $2.6 billion that was scheduled for June 21. It also won't declare a dividend for the second and third quarters. Investors saw the news as an end to the uncertainty about BP's stability, and that helped steady the overall market. The Dow Jones industrial average rose about 4 points, while the Standard & Poor's 500 index fell less than a point and the Nasdaq composite index was virtually unchanged.

BP's plans to place $20 billion in a fund to compenste victims were announced after a meeting between BP executives and President Barack Obama at the White House. Traders had been questioning how BP will handle the mounting costs of the spill, which began April 20 when a rig operated by BP exploded.

*The NYSE DOW closed HIGHER +4.69 points +0.05% on Wednesday June 16*
Sym. Last......... ........Change..........
Dow 10,409.46 +4.69 +0.05% 
Nasdaq 2,305.93 +0.05 +0.00% 
S&P 500 1,114.61 -0.62 -0.06% 
30-yr Bond 4.20% -0.30 

NYSE Volume 5,646,613,500  (prior day 5,299,700,500)
Nasdaq Volume 1,946,411,120  (prior day 2,257,801,750)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,237.92 +20.10 +0.39% 
DAX 6,190.91 +15.86 +0.26% 
CAC 40 3,675.93 +14.42 +0.39% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,067.15 +179.26 +1.81% 
Hang Seng 20,062.15 +10.24 +0.05% 
Straits Times 2,846.94 +28.73 +1.02% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks end flat; BP agrees to $20B victim fund

Stocks close little changed after BP agreement for victim fund eases uncertainty about company *

Tim Paradis, AP Business Writer, On Wednesday June 16, 2010, 5:36 pm 

NEW YORK (AP) -- BP's agreement to put $20 billion into a fund for victims of the Gulf of Mexico oil spill lifted the stock market off its lows and sent the major indexes to a narrowly mixed finish.

The oil company also said Wednesday it has canceled a dividend payment totaling about $2.6 billion that was scheduled for June 21. It also won't declare a dividend for the second and third quarters. Investors saw the news as an end to the uncertainty about BP's stability, and that helped steady the overall market. The Dow Jones industrial average rose about 4 points, while the Standard & Poor's 500 index fell less than a point and the Nasdaq composite index was virtually unchanged.

BP's plans to place $20 billion in a fund to compenste victims were announced after a meeting between BP executives and President Barack Obama at the White House. Traders had been questioning how BP will handle the mounting costs of the spill, which began April 20 when a rig operated by BP exploded.

"One source of uncertainty has been at least partially resolved," said Brian Gendreau, a market strategist with Financial Network Investment Corp.

The market began the day by falling on news that home construction and applications for building permits slumped in May following the end of a homebuyer tax credit. Meanwhile, FedEx Corp. released a disappointing profit forecast for the fiscal year that began June 1, and that raised more questions about the economic recovery. The package delivery company is seen as a barometer of the economy because shipping demand tends to increase as business conditions improve. The stock fell almost 6 percent.

The Commerce Department's report on housing raised concerns that weaker demand for homes will hurt an economic rebound. Construction of homes and apartments fell 10 percent from a month earlier to an annual rate of 593,000, well below the 650,000 economists had forecast. A 17 percent drop in construction of single-family homes was the largest since January 1991.

Applications for building permits fell 5.9 percent to the lowest level in a year. Analysts had forecast an increase. Demand for permits is an indicator of future homebuilding activity. The weaker-than-expected numbers come after a homebuyer tax credit expired in April.

Kevin Smith, a housing market analyst at Chapdelaine Credit Partners in New York, said the drop in the home construction and permit numbers extends a string of choppy readings since October, and that it's too soon to tell how housing will hold up. He noted that the previous month had been the best in more than two years.

"It's going to be a bumpy ride," Smith said. He said housing won't make a strong recovery until unemployment falls and overall confidence grows.

The homebuyer's credit was part of the government package of stimulus measures designed to help the economy recover from the mortgage and financial crises of 2008. Investors have been uneasy about what would happen to the economy when the government started to withdraw those measures.

Wednesday's trading reflected the juggling act investors have been doing for months. While many of the economic signs in the U.S. show the recovery is proceeding, news like the home construction figures and the FedEx forecast have created doubt about the strength of the rebound. Events like the oil spill, which raises the prospect of a weakened oil giant as well as severe economic fallout from the disaster, have also unnerved traders. And economic problems remain in several European countries.

The Dow rose 4.69, or 0.05 percent, to 10,409.46, its fourth advance in five days. During morning trading, the Dow was down as much as 72.

The S&P 500 fell 0.62, or 0.06 percent, to 1,114.61, and the Nasdaq crept up 0.05 to 2,305.93.

Losing stocks were ahead of advancers by 3 to 2 on the New York Stock Exchange, where consolidated volume came to 5.1 billion shares, up from 4.7 billion on Tuesday.

Bond prices edged higher, pushing down interest rates. The yield on the benchmark 10-year Treasury note slipped to 3.27 percent from 3.31 percent late Tuesday.

The Dow is still down more than 7 percent from the 2010 high of 11,205.03 it reached April 26.

Stocks also steadied after the euro pulled off its lows. A Spanish newspaper reported that the International Monetary Fund and European Union were trying to come up with a financial rescue for Spain. That hit the euro and pushed the dollar higher. Officials in Spain denied the report. The country, like Greece and Portugal, is facing high debt loads. The euro fell to $1.2318. Last week it was a four-year low of $1.1878

U.S. markets have been tracking the moves of the 16-nation currency because it is seen as a measure of confidence in Europe's economy. European countries are in the midst of cutting spending, and investors are concerned that those cutbacks could curtail the region's economic rebound, and in turn, the U.S. recovery.

FedEx fell $4.94, or 6 percent, to $78.07. The company said its fiscal 2011 outlook was based on the assumption of a continued "moderate recovery" in the global economy.

BP rose 45 cents, or 1.4 percent, to $31.85. The company's stock is down by nearly half since the day of the explosion, when it was trading at about $60.

Homebuilders fell after the government's report. Toll Brothers Inc. fell 15 cents to $18.78, while KB Home fell 22 cents to $12.93.

Crude oil rose 72 cents to $77.66 per barrel on the New York Mercantile Exchange. Gold climbed.

The Russell 2000 index of smaller companies fell 2.64, or 0.4 percent, to 666.13.

Britain's FTSE 100 rose 0.4 percent, Germany's DAX index gained 0.3 percent, and France's CAC-40 rose 0.4 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The stock market managed a slender gain Thursday after traders shook off a pair of disappointing economic reports.

Traders began buying late in the session, although without the vehemence that has marked other final-hour moves in recent weeks. The Dow Jones industrial average closed up about 24 points after falling 90 early in the day, and scored its first three-day advance since April. The Standard & Poor's 500 and Nasdaq composite indexes both rose a little more than a point.

The late rebound following downbeat employment and manufacturing news suggests that investors may be getting more confident about the economic recovery, said Philip Orlando, the New York-based chief equity market strategist at Federated Investors.

*The NYSE DOW closed HIGHER +24.71  points +0.24% on Thursday June 17*
Sym. Last......... ........Change..........
Dow 10,434.17 +24.71 +0.24% 
Nasdaq 2,307.16 +1.23 +0.05% 
S&P 500 1,116.04 +1.43 +0.13% 
30-yr Bond 4.12% -0.78 

NYSE Volume 5,243,848,500  (prior day 5,646,613,500)
Nasdaq Volume 1,777,049,500  (prior day 1,946,411,120)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,253.89 +15.97 +0.30% 
DAX 6,223.54 +32.63 +0.53% 
CAC 40 3,683.08 +7.15 +0.19% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,999.40 -67.75 -0.67% 
Hang Seng 20,138.40 +76.25 +0.38% 
Straits Times 2,840.38 -6.56 -0.23% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks eke out gain after downbeat economic data

Stocks eke out slender gain after 2 reports remind traders that economy still has problems *

Tim Paradis, AP Business Writer, On Thursday June 17, 2010, 5:53 pm 
NEW YORK (AP) -- The stock market managed a slender gain Thursday after traders shook off a pair of disappointing economic reports.

Traders began buying late in the session, although without the vehemence that has marked other final-hour moves in recent weeks. The Dow Jones industrial average closed up about 24 points after falling 90 early in the day, and scored its first three-day advance since April. The Standard & Poor's 500 and Nasdaq composite indexes both rose a little more than a point.

The late rebound following downbeat employment and manufacturing news suggests that investors may be getting more confident about the economic recovery, said Philip Orlando, the New York-based chief equity market strategist at Federated Investors.

"I think we're starting to see a change in psychology," Orlando said. "We're beginning to ignore bad news and focusing on the bigger, better long term picture, and that's encouraging."

Still, investors were also looking for safe holdings, a sign that the economy is uncertain enough for them to hedge their bets. Treasury prices rose, pushing down interest rates, and gold closed at a record high.

The government said early in the day that the number of people seeking unemployment benefits rose unexpectedly last week. Initial claims for jobless benefits increased 12,000 to 472,000. That's the highest level in a month and follows three straight weeks of declines. Economists had forecast another drop.

A drop in the Philadelphia Federal Reserve's index of regional manufacturing also hit stocks. The Philly Fed said manufacturing continued to expand in June but at a slower pace than in May. Its index of manufacturing activity dropped to 8 from 21.4 the month before. Traders were concerned that the slowdown signals that a recovery is fading in one of the strongest parts of the economy.

"It adds up to a modest, uneven recovery," said Paul Ballew, chief economist at Nationwide Insurance in Columbus, Ohio, and a former senior economist with the Federal Reserve. "We're not expecting some light switch being turned on here."

Retailers and other stocks that depend on steady consumer spending fell following the jobs report. Bed Bath & Beyond Inc. fell 7.6 percent, and most other big retailers also ended the day with losses. DirecTV Inc. fell 3.9 percent.

Stocks regarded as safer investments during weak economies such as utilities and health care rose. FirstEnergy Corp. gained 1.6 percent, while health insurer Aetna Inc. climbed 4.5 percent after it forecast that its second-quarter earnings would beat analysts' expectations because of lower medical costs.

A stronger euro helped the market. The euro rose after a bond offering by Spain's government drew solid demand. Traders have been concerned that European countries like Spain with high debt loads would have trouble raising money because of worries about defaults. A stronger euro is seen as a sign of confidence in Europe's ability to cut its debt without jeopardizing an economic rebound. The euro climbed to $1.2396, up more than 5 cents from the four-year low it reached last week.

Traders have been trying to determine where stocks are headed since major stock indexes hit their 2010 peak in late April. The Dow has risen 6.3 percent from its lowest close of the year on June 7 but it's still down almost 7 percent from its high of 11,205 on April 26.

The Dow rose 24.71, or 0.2 percent, to 10,434.17. The last time the average had a three-day advance was April 19-21, shortly before the market began sliding on concerns about Europe's economic problems. The Dow is up 243.28 over the past three days. The bulk of that gain came from an almost 214-point jump on Tuesday.

The S&P 500 index rose 1.43, or 0.1 percent, to 1,116.04, and the Nasdaq rose 1.23, or 0.05 percent, to 2,307.16.

The yield on the benchmark 10-year Treasury note fell to 3.19 percent from 3.27 percent late Wednesday.

Crude oil fell 84 cents to $76.83 per barrel on the New York Mercantile Exchange. Gold closed at a record $1,248.70 an ounce.

BP fell 14 cents to $31.71. Aetna rose $1.31, or 4.5 percent, to $30.63.

Losing stocks were slightly ahead of gainers on the New York Stock Exchange, where consolidated volume came to 4.6 billion shares, down from 5.1 billion on Wednesday.

The Russell 2000 index of smaller companies fell 0.28, or 0.04 percent, to 665.85.

Britain's FTSE 100 rose 0.3 percent, Germany's DAX index rose 0.5 percent, and France's CAC-40 gained 0.2 percent. Japan's Nikkei stock average fell 0.7 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow's gain of 16 points on Friday was relatively modest, but it capped a surge of 5.2 percent over the past two weeks that puts the average nearly halfway back to the high for the year that it reached on April 26.

All three indicators posted solid gains for the week. The Dow is up 2.3 percent, the S&P 500 2.4 percent and the Nasdaq 3 percent.

The Dow posted its second consecutive weekly gain of more than 2 percent. Before that, the Dow had been down for three weeks. The last time the Dow had a two-week stretch of gains that strong was in November 2009.

Here's something for investors beaten down by the market's sharp declines this spring: The Dow Jones industrial average just had its best two weeks since November.

Stocks had a longer winning streak earlier this year, an eight-week stretch that ended in late April, but those gains were more gradual. Then a sharp drop in May and early June brought the Dow down as much as 12.4 percent below its 2010 high, a decline that market analysts call a "correction."

*The NYSE DOW closed HIGHER +16.47 points +0.16% on Firday June 18*
Sym. Last......... ........Change..........
Dow 10,450.64 +16.47 +0.16% 
Nasdaq 2,309.80 +2.64 +0.11% 
S&P 500 1,117.51 +1.47 +0.13% 
30-yr Bond 4.1490% +0.2700 

NYSE Volume 5,453,905,500  (prior day 5,243,848,500)
Nasdaq Volume 2,060,557,620  (prior day 1,777,049,500)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,250.84 -3.05 -0.06% 
DAX 6,216.98 -6.56 -0.11% 
CAC 40 3,687.21 +4.13 +0.11% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,995.02 -4.38 -0.04% 
Hang Seng 20,286.71 +148.31 +0.74% 
Straits Times 2,833.40 -10.55 -0.37% 

http://finance.yahoo.com/news/Stocks-post-biggest-twoweek-apf-2242457624.html?x=0

*Stocks post biggest two-week gain since November

Dow Jones industrial average posts its biggest two-week gain since last November *

Tim Paradis and Seth Sutel, AP Business Writer, On Friday June 18, 2010, 6:07 pm 

NEW YORK (AP) -- Here's something for investors beaten down by the market's sharp declines this spring: The Dow Jones industrial average just had its best two weeks since November.

The Dow's gain of 16 points on Friday was relatively modest, but it capped a surge of 5.2 percent over the past two weeks that puts the average nearly halfway back to the high for the year that it reached on April 26.

Stocks had a longer winning streak earlier this year, an eight-week stretch that ended in late April, but those gains were more gradual. Then a sharp drop in May and early June brought the Dow down as much as 12.4 percent below its 2010 high, a decline that market analysts call a "correction."

The debate now is focusing on whether that correction phase is over. A correction is generally considered a drop of 10-20 percent from a recent peak. The Dow has risen back 6.5 percent from its lowest close of the year on June 7, but it's still down 6.7 percent from its 2010 high.

"I don't know that we're totally through the correction," said Stu Schweitzer, global markets strategist at JPMorgan's Private Bank in New York. "I do expect markets to remain quite volatile all through the rest of this year, but I still expect that we're going to end the year higher."

Minerals companies led other shares higher after gold settled at another record high. Barrick Gold Corp. jumped 3.5 percent, while Newmont Mining Corp. rose 2.6 percent.

Corporate news also brought out buyers. CVS Caremark Corp. rose 1.9 percent and Walgreen Co. rose 2.8 percent after the two companies settled a dispute over pharmacy prescriptions that had threatened to hurt profits. Dow component Caterpillar Inc. gained 1.4 percent after reporting sharply higher sales.

The Dow rose 16.47, or 0.2 percent, to close at 10,450.64. The broader Standard & Poor's 500 index rose 1.47, or 0.1 percent, to 1,117.51. The Nasdaq composite index edged up 2.64, or 0.1 percent, to 2,309.80.

All three indicators posted solid gains for the week. The Dow is up 2.3 percent, the S&P 500 2.4 percent and the Nasdaq 3 percent.

The Dow posted its second consecutive weekly gain of more than 2 percent. Before that, the Dow had been down for three weeks. The last time the Dow had a two-week stretch of gains that strong was in November 2009.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where consolidated volume came to 4.9 billion shares, versus 4.6 billion the day before. Volume was heavier because of the simultaneous expiration of four kinds of futures and options contracts, which occurs once every quarter.

Trading was relatively quiet considering the options and futures expirations, which can often bring volatility as traders adjust their portfolios. The week that follows the June expiration is often a losing one for investors. The Dow has posted a loss during that week for the past 11 years, according to the Stock Trader's Almanac.

Bond prices slipped, pushing interest rates higher. The yield on the benchmark 10-year Treasury note rose to 3.23 percent from 3.20 percent late Thursday.

The dollar edged lower against the British pound and Japanese yen, while the euro edged down versus the dollar. The euro has regained strength over the past week amid encouraging signs in Europe's efforts to control its debt crisis. Spain had successful bond sales this week, and European leaders pledged to disclose the results of stress tests on banks.

Crude oil rose 39 cents to settle at $77.18 per barrel on the New York Mercantile Exchange.

Randy Frederick, director of trading and derivatives at Charles Schwab, said the market's bounce from its recent lows has come too quickly. He said professional traders are building up positions in investments that would cushion their losses if the market fell again.

"Not that we're going into this big ugly bear market but to go back down to the lows that we were at just a few weeks ago, I think, seems very possible based on what I see," Frederick said. "I see a reason to be a little cautious right now."

The coming week brings readings on home sales and consumer sentiment. The Federal Reserve also will meet on interest rates.

Gold settled up $1,258.30 an ounce, a gain of $9.60. Barrick Gold rose $1.56, or 3.5 percent, to $46.38, and Newmont Mining climbed $1.57, or 2.6 percent, to $61.25.

CVS rose 59 cents to $32.43, while Walgreen gained 82 cents to $30.09. Caterpillar gained 90 cents to close at $65.85.

The Russell 2000 index of smaller companies rose 1.07, or 0.2 percent, to 666.92.

4609


----------



## bigdog

Source: http://finance.yahoo.com

Stocks erased big gains Monday after investors lost some of their enthusiasm about China's decision to let its currency appreciate against the dollar.

The Dow Jones industrial average fell about 8 points after climbing nearly 144 in early trading. The Dow had been up the past four days. The Standard & Poor's 500 index also slid and the Nasdaq composite index fell after seven straight gains.

The initial reaction to China's weekend announcement was that a stronger yuan compared with the dollar would allow U.S. manufacturers and exporters to be more competitive selling their products in China. But traders came to see the move as more of a long-term shift rather than something that would give the economy a boost now.

*The NYSE DOW closed LOWER -8.23 points -0.08% on Monday June 21*
Sym. Last......... ........Change..........
Dow 10,442.41 -8.23 -0.08% 
Nasdaq 2,289.09 -20.71 -0.90% 
S&P 500 1,113.20 -4.31 -0.39% 
30-yr Bond 4.1640% +0.1500 

NYSE Volume 5,176,221,000  (prior day 5,453,905,500)
Nasdaq Volume 1,911,339,000  (prior day 2,060,557,620)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,299.11 +48.27 +0.92% 
DAX 6,292.97 +75.99 +1.22% 
CAC 40 3,736.15 +48.94 +1.33% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,238.01 +242.99 +2.43% 
Hang Seng 20,912.18 +625.47 +3.08% 
Straits Times 2,885.64 +52.24 +1.84% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks fall after China currency enthusiasm fades

Stocks erase gains after traders re-examine China's plan to let yuan appreciate against dollar *

Tim Paradis, AP Business Writers, On Monday June 21, 2010, 5:49 pm 

NEW YORK (AP) -- Stocks erased big gains Monday after investors lost some of their enthusiasm about China's decision to let its currency appreciate against the dollar.

The Dow Jones industrial average fell about 8 points after climbing nearly 144 in early trading. The Dow had been up the past four days. The Standard & Poor's 500 index also slid and the Nasdaq composite index fell after seven straight gains.

The initial reaction to China's weekend announcement was that a stronger yuan compared with the dollar would allow U.S. manufacturers and exporters to be more competitive selling their products in China. But traders came to see the move as more of a long-term shift rather than something that would give the economy a boost now.

A drop in the euro also eroded investors' excitement over China's move. A slide in the European currency is seen as a sign of faltering confidence in Europe's ability to contain its debt problems.

Many of China's trading partners complain that the country keeps the yuan artificially low to bolster exports. At the same time, the weak currency makes imported goods expensive for consumers in China. Subodh Kumar, an independent investment strategist in Toronto, said some traders at first mistakenly expected to see a lower yuan make demand from China jump the way it did in 2008 when the country enacted a massive economic stimulus plan.

"The notion is that they're going to get the same kick out of China that they did in 2008," Kumar said. "Most of China's moves are long-term."

But materials companies rose on expectations that demand from China will increase. Aluminum producer Alcoa Inc. gained 5.5 percent, while mining company Cliffs Natural Resources Inc. rose 3 percent.

The news from China hurt retailers because the country's imports would become more expensive. That could cut into earnings, especially since weak consumer spending limits' stores ability to pass higher prices on to their customers. Macy's Inc. fell 3.4 percent, while Wal-Mart Stores Inc. dropped 1 percent.

The focus on China and the euro came on a quiet day with little other news. Light trading volume signaled that many investors were staying out of the market. Traders are looking to a two-day meeting of the Federal Reserve that begins Tuesday. The Fed is expected to keep the federal funds rate, its benchmark interest rate, at historic lows. Traders will be focused on the Fed's assessment of the economy.

The light flow of news left the market vulnerable to more of the big swings that have been common since major stock indexes hit 2010 highs in late April.

"There's nothing down there to move it except rumor and innuendo and traders trying to book a few profits before the end of the day," said James Paulsen, chief investment strategist for Wells Capital Management in Minneapolis, referring to sentiment on trading floors.

The Dow fell 8.23, or 0.1 percent, to 10,442.41. The index had risen 5.2 percent in the past two weeks, its biggest two-week gain since mid-November 2009.

The S&P 500 index fell 4.31, or 0.4 percent, to 1,113.20, and the Nasdaq fell 20.71, or 0.9 percent, to 2,289.09.

Treasury prices fell but were off their lows, while interest rates moved higher. Falling stocks sent more traders searching for the safety of government debt. The yield on the 10-year Treasury note rose to 3.25 percent from 3.23 percent late Friday.

The dollar rose against other major currencies and the euro fell.

Prices for many commodities climbed but ended off their highs. Crude oil rose 64 cents to $77.82 per barrel on the New York Mercantile Exchange. Gold hit a record $1,266.50 an ounce before settling down $17.60 at $1,240.70 an ounce. Copper jumped.

Anadarko Petroleum Corp. rose 88 cents, or 2.1 percent, to $43.45, while Freeport-McMoRan Copper & Gold Inc. rose $2.18, or 3.3 percent, to $68.08.

Alcoa rose 61 cents, or 5.5 percent, to $11.72, while Cliffs Natural Resources rose $1.67, or 3 percent, to $57.89.

A profit warning from California Pizza Kitchen Inc. because of weaker-than-expected sales renewed concerns that consumers will continue to hold back spending while they worry about jobs. California Pizza Kitchen fell $2.06, or 10.9 percent, to $16.83.

Macy's fell 72 cents, or 3.4 percent, to $20.74, while Abercrombie & Fitch dropped 82 cents, or 2.3 percent, to $34.51.

Three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume came to 4.5 billion shares, compared with 4.9 billion Friday.

The Russell 2000 index of smaller companies fell 6.89, or 1 percent, to 660.03.

Overseas markets jumped following China's announcement. They held on to their gains because they closed earlier than U.S. markets. Britain's FTSE 100 rose 0.9 percent, Germany's DAX index added 1.2 percent, and France's CAC-40 climbed 1.3 percent. Japan's Nikkei stock average rose 2.4 percent, while Hong Kong's Hang Seng jumped 3.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks fall on housing fears; oil shares drop as gov't plans to appeal ruling on drilling ban 

Stocks dropped for a second day Tuesday after home sales fell unexpectedly and the White House said it would fight a court ruling that lifted its ban on offshore oil drilling.

The Dow Jones industrial average fell 149 points, its biggest drop in about two weeks. Treasury prices climbed after demand for safe investments rose.

The National Association of Realtors reported that sales of existing homes fell 2.2 percent in May. The report surprised analysts who thought sales would get a lift from a homebuyer tax credit. Sales fell to a seasonally adjusted annual rate of 5.66 million from a revised 5.79 million in April.

*The NYSE DOW closed LOWER -148.89 points -1.43% on Tuesday June 22*
Sym. Last......... ........Change..........
Dow 10,293.52 -148.89 -1.43% 
Nasdaq 2,261.80 -27.29 -1.19% 
S&P 500 1,095.31 -17.89 -1.61% 
30-yr Bond 4.0990% -0.6500 

NYSE Volume 5,205,618,000  (prior day 5,176,221,000)
Nasdaq Volume 1,901,342,880  (prior day 1,911,339,000)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,246.98 -52.13 -0.98% 
DAX 6,269.04 -23.93 -0.38% 
CAC 40 3,705.32 -30.83 -0.83% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 10,112.89 -125.12 -1.22% 
Hang Seng 20,819.08 -93.10 -0.45% 
Straits Times 2,872.30 -13.34 -0.46% 

http://finance.yahoo.com/news/Stocks-slide-on-new-concerns-apf-3981291538.html?x=0

*Stocks slide on new concerns about housing, banks

Stocks fall on housing fears; oil shares drop as gov't plans to appeal ruling on drilling ban *

Tim Paradis, AP Business Writer, On Tuesday June 22, 2010, 5:37 pm 

NEW YORK (AP) -- Stocks dropped for a second day Tuesday after home sales fell unexpectedly and the White House said it would fight a court ruling that lifted its ban on offshore oil drilling.

The Dow Jones industrial average fell 149 points, its biggest drop in about two weeks. Treasury prices climbed after demand for safe investments rose.

The National Association of Realtors reported that sales of existing homes fell 2.2 percent in May. The report surprised analysts who thought sales would get a lift from a homebuyer tax credit. Sales fell to a seasonally adjusted annual rate of 5.66 million from a revised 5.79 million in April.

Homebuilder Toll Brothers Inc. slid 3.2 percent, while Hovnanian Enterprises Inc. fell 3.5 percent.

Oil stocks fell after the administration said it would appeal a judge's decision to overturn a six-month ban on deepwater oil drilling in the Gulf of Mexico. Baker Hughes Inc., a supplier of oil drilling parts and services, fell 4.4 percent, while oil-services company Halliburton Inc. fell 3.9 percent.

It was the second straight day that the market gave up early gains to end lower. The selling intensified shortly before 2 p.m. Eastern time, when the benchmark Standard & Poor's 500 index fell below 1,100, its average finish of the past 200 days. Many professionals who use technical factors in their buying and selling decisions consider the 200-day moving average, as it's called, to be a predictor of the market's direction. The drop below 1,110 hastened the market's slide because computer programs kicked in and drove more selling.

"Without much tangible information to sink your teeth into investors are going to rely on technicals and right now the technicals broke down," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. "There are a lot of extreme emotions right now and not a lot of information."

The slide came as the Federal Reserve held the first part of a two-day meeting at which it's expected to keep its benchmark federal funds rate in the current range of zero to 0.25 percent. The Fed is maintaining low rates because high unemployment and weakness in the housing market have held back an economic rebound.

Christian Hviid, chief market strategist at Genworth Financial Asset Management in Encino, Calif., said traders are concerned that the Fed will issue a more pessimistic view of the economy in the statement that accompanies its decision on interest rates Wednesday. He said expectations for the economy in the second half of the year might have been too high given that borrowing is still restricted and that consumer spending is still weak.

"Not all risk is gone," Hviid said.

The Dow fell 148.89, or 1.4 percent, to 10,293.52, its biggest point and percentage loss since June 4. The index is up 4.9 percent from its 2010 closing low of 9,816 on June 7

The S&P 500 index fell 17.89, or 1.6 percent, to 1,095.31, while the Nasdaq composite index fell 27.29, or 1.2 percent, to 2,261.80.

Bond prices rose Tuesday as investors opted for the safety of U.S. Treasurys. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.17 percent from 3.25 percent late Monday.

The Dow on Tuesday crossed the unchanged mark 74 times. Peter Tuz, president of Chase Investment Council in Charlottesville, Va., said trading likely will be choppy until July when companies start to report earnings from April-June quarter.

"It's kind of like summer doldrums until earnings season," Tuz said. "Once that begins you start to get clarity."

The euro resumed its slide against the dollar after rising for most of the past 10 days. The euro fell to $1.2267.

The stronger dollar hurts commodity prices by reducing demand from foreign buyers. Crude oil fell 71 cents to $77.90 per barrel on the New York Mercantile Exchange.

Baker Hughes fell $1.94, or 4.4 percent, to $42.15, while Halliburton dropped $1.06, or 3.9 percent, to $25.99.

Toll Brothers fell 57 cents, or 3.2 percent, to $17.06, and Hovnanian fell 14 cents, or 3.5 percent, to $3.90. Apple rose $3.68, or 1.4 percent, to $273.85.

Technology shares fell less than the broader market after Apple Inc. said it sold 3 million iPads in the first 80 days the tablet computers were on sale in the U.S. The stock rose 1.4 percent and helped limit the losses in the tech-heavy Nasdaq.

Four stocks fell for every one that rose on the New York Stock Exchange. Volume came to 1.1 billion shares, in line with Monday.

The Russell 2000 index of smaller companies fell 14.12, or 2.1 percent, to 645.91.

Britain's FTSE 100 fell 1 percent, Germany's DAX index dropped 0.4 percent, and France's CAC-40 fell 0.8 percent. Japan's Nikkei stock average fell 1.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks slip after new-home sales tumble, and Fed issues a more cautious take on the economy

The stock market closed with a slight loss Wednesday after sales of new homes hit a record low and the Federal Reserve indicated that problems in Europe pose a threat to the U.S. economy.

The Dow Jones industrial average rose about 5 points, but broader indexes fell and losing stocks outnumbered advancers on the New York Stock Exchange. Treasury prices rose, pushing down interest rates. The yield on the benchmark 10-year Treasury note fell to its lowest level in more than a year.

Stocks fell early in the day after the government said new home sales dropped by a third to a record low last month. Sales fell to a seasonally adjusted annual pace of 300,000. Economists polled by Thomson Reuters had forecast sales would drop to a seasonally adjusted annual rate of 410,000.

*The NYSE DOW closed HIGHER +4.92 points +0.05%  on Wednesday June 23*
Sym. Last......... ........Change..........
Dow 10,298.44 +4.92 +0.05% 
Nasdaq 2,254.23 -7.57 -0.33% 
S&P 500 1,092.04 -3.27 -0.30% 
30-yr Bond 4.0600% -0.0390 

NYSE Volume 5,286,156,000  (prior day 5,205,618,000)
Nasdaq Volume 1,893,307,120  (prior day 1,901,342,880)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,178.52 -68.46 -1.30% 
DAX 6,204.52 -64.52 -1.03% 
CAC 40 3,641.79 -63.53 -1.71% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,923.70 -189.19 -1.87% 
Hang Seng 20,856.61 +37.53 +0.18% 
Straits Times 2,865.87 -6.43 -0.22% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks fall on home sales slump, cautious Fed view

Stocks slip after new-home sales tumble, and Fed issues a more cautious take on the economy *

Tim Paradis, AP Business Writer, On Wednesday June 23, 2010, 5:43 pm 

NEW YORK (AP) -- The stock market closed with a slight loss Wednesday after sales of new homes hit a record low and the Federal Reserve indicated that problems in Europe pose a threat to the U.S. economy.

The Dow Jones industrial average rose about 5 points, but broader indexes fell and losing stocks outnumbered advancers on the New York Stock Exchange. Treasury prices rose, pushing down interest rates. The yield on the benchmark 10-year Treasury note fell to its lowest level in more than a year.

Stocks fell early in the day after the government said new home sales dropped by a third to a record low last month. Sales fell to a seasonally adjusted annual pace of 300,000. Economists polled by Thomson Reuters had forecast sales would drop to a seasonally adjusted annual rate of 410,000.

The Dow lost as much as 66 points after the housing numbers came out. On Tuesday, an unexpected slide in sales of existing homes also hurt stocks. Existing homes make up a far bigger part of the market than new homes but traders were braced for more bad news Wednesday.

"I think the market is, thankfully, already getting used to the idea that housing is going to fall off a cliff between the end of the homebuyer tax credit and now," said John Canally, economist at LPL Financial. The homebuyer's credit expired April 30, and its absence is expected to be felt beyond the May sales figures.

Traders picked up stocks of companies that sell consumer staples because they are considered safer in weak economies. Procter & Gamble Co., which makes Tide detergent and Gillette razors, rose 1.1 percent. Kraft Foods Inc. also rose. Fortune Brands Inc., which makes doors, bathroom faucets and other goods used in homes, fell 1.4 percent. Leggett & Platt, whose products include bedding and furniture parts, lost 1.2 percent.

"I can't remember a time where I've seen just so much so much uncertainty," said Adam Gould, senior portfolio manager at Direxion Funds in New York.

The market's moves were subdued for much of the day and trading volume was light, as it has been for weeks. The lack of action in the morning came as traders watched World Cup soccer matches. Cheers erupted on the floor of the New York Stock Exchange when the U.S. beat Algeria.

Traders then found little to do but wait for the Fed's midafternoon announcement. The central bank's economic statement issued after a meeting of its policymaking committee contained few surprises. The Fed said that "financial conditions have become less supportive of economic growth." The Fed cited what it called "developments abroad" but didn't mention Europe by name.

Stocks have fallen from 2010 highs in April on worries that debt problems in Europe would spread and hurt a global rebound.

"The Fed is acknowledging what we're all seeing," said Mike Materasso, co-chair of the fixed income policy committee at Franklin Templeton. "There are problems in Europe, we've gotten a string of data in the U.S. with regard to employment, housing and even retail sales that is disappointing."

The Dow closed with a gain of 4.92, or 0.1 percent, to 10,298.44 after being up nearly 75 points in afternoon trading. The index lost 149 points Tuesday after the home sales report.

The broader Standard & Poor's 500 index fell 3.27, or 0.3 percent, to 1,092.04, and the Nasdaq composite index fell 7.57, or 0.3 percent, to 2,254.23.

Bond prices rose, driving down interest rates. The yield on the 10-year note fell to 3.12 percent from 3.17 percent late Tuesday. It hit the lowest level since May 2009.

The dollar fell against other major currencies. Crude oil fell $1.28 to $76.57 per barrel on the New York Mercantile Exchange.

The swings in stocks came as traders prepared for a reshuffling Friday of some of the stocks contained in the Russell 2000 index of smaller companies.

Procter & Gamble rose 66 cents, or 1.1 percent, to $61.38, while Kraft rose 18 cents to $29.54.

Fortune Brands fell 59 cents, or 1.4 percent, to $42.99, and Leggett dropped 27 cents, or 1.2 percent, to $21.71.

Homebuilder stocks mostly rose after a recent slide. PulteGroup Inc. advanced 19 cents, or 2.1 percent, to $9.05, while Toll Brothers Inc. rose 43 cents, or 2.5 percent, to $17.49.

Falling stocks narrowly outpaced those that rose on the NYSE, where consolidated volume came to 4.6 billion shares, in line with Tuesday.

The Russell 2000 fell 1.66, or 0.3 percent, to 644.25.

Britain's FTSE 100 fell 1.3 percent, Germany's DAX index dropped 1 percent and France's CAC-40 fell 1.7 percent. Japan's Nikkei 225 stock index fell 1.9 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks drop following downbeat forecasts from retailers; Traders eye costs of bank regulation

Disappointing forecasts from retailers and concern about the government's financial overhaul package pounded stocks Thursday.

The Dow Jones industrial average lost 146 points after edging higher Wednesday. Broader indexes dropped for a fourth straight day.

Downbeat forecasts from retailers raised concerns that high unemployment and weak consumer spending would stall an economic rebound. Nike Inc. dropped 4 percent after saying increased costs could hurt earnings. Bed Bath & Beyond fell 5.6 percent after the home goods retailer's second-quarter earnings forecast missed expectations.

*The NYSE DOW closed LOWER -145.64 points -1.41% on Thursday June 24*
Sym. Last......... ........Change..........
Dow 10,152.80 -145.64 -1.41% 
Nasdaq 2,217.42 -36.81 -1.63% 
S&P 500 1,073.69 -18.35 -1.68% 
30-yr Bond 4.09% +0.28 

NYSE Volume 5,643,810,500  (prior day 5,286,156,000)
Nasdaq Volume 2,055,848,750  (prior day 1,893,307,120)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,100.23 -78.29 -1.51% 
DAX 6,115.48 -89.04 -1.44% 
CAC 40 3,555.36 -86.43 -2.37% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,928.34 +4.64 +0.05% 
Hang Seng 20,733.49 -123.12 -0.59% 
Straits Times 2,846.88 -24.17 -0.84% 

http://finance.yahoo.com/news/Retailers-banks-pull-stocks-apf-391894174.html?x=0&.v=24

*Retailers, banks pull stocks lower; Dow slides 146

Stocks drop following downbeat forecasts from retailers; Traders eye costs of bank regulation *

Stephen Bernard and Tim Paradis, AP Business Writers, On Thursday June 24, 2010, 6:04 pm EDT 

NEW YORK (AP) -- Disappointing forecasts from retailers and concern about the government's financial overhaul package pounded stocks Thursday.

The Dow Jones industrial average lost 146 points after edging higher Wednesday. Broader indexes dropped for a fourth straight day.

Downbeat forecasts from retailers raised concerns that high unemployment and weak consumer spending would stall an economic rebound. Nike Inc. dropped 4 percent after saying increased costs could hurt earnings. Bed Bath & Beyond fell 5.6 percent after the home goods retailer's second-quarter earnings forecast missed expectations.

Dell Inc. lost 6.4 percent after the computer maker's fiscal year forecast failed to top expectations, as some analysts had hoped.

Meanwhile, financial stocks fell after Congress continued working on a bill to overhaul regulation of the industry. Democratic leaders hoped to reconcile the House and Senate bills so President Barack Obama can have a deal in place by the time he meets with the leaders of the Group of 20 nations this weekend in Toronto.

Traders were concerned that some provisions of the bill would cut into bank profits. Large banks were lobbying to strike a proposal that would make the industry cover costs to dismantle the mortgage giants Fannie Mae and Freddie Mac. Bank of America Corp. dropped 2.7 percent and JPMorgan Chase & Co. lost 2.2 percent.

Economic news didn't help. The government said initial claims for unemployment benefits fell last week but remained above the level that would signal employers are ramping up hiring. A second report indicated that orders for durable goods fell last month for the first time in six months. Orders for big-ticket goods fell 1.1 percent in May. Analysts predicted a 1.3 percent drop.

"There is just such a stagnation in the economy," said Dan Deming, a trader with Stutland Equities in Chicago. Deming said investors are struggling to determine whether the economy can continue to bounce back without as much help from government spending.

"The water is so murky right now," Deming said. "It's just very hard to get a picture of where we're at."

The Dow fell 145.64, or 1.4 percent, to 10,152.80. The Standard & Poor's 500 index fell 18.35, or 1.7 percent, to 1,073.69. It was the first four-day drop for the S&P 500 index since early May. The Nasdaq composite index fell 36.81, 1.6 percent, to 2,217.42.

Interest rates were mixed in the Treasury market. The yield on the benchmark 10-year Treasury note rose to 3.14 percent from 3.12 percent late Wednesday. The yield had fallen to a 13-month low of 3.07 percent.

The recent drop in rates is good news for borrowers. Freddie Mac said Thursday that the cost of a home loan has fallen this week to the lowest level on record. The average rate on a 30-year fixed mortgage dropped to 4.69 percent from 4.75 percent last week.

Crude oil rose 16 cents to settle at $76.51 a barrel on the New York Mercantile Exchange.

The market's moves were also being driven by traders preparing for changes Friday to some of the stocks that make up the Russell 2000 index of smaller companies. The Russell 2000 fell 11.08, or 1.7 percent, to 633.17.

The slump in stocks made clear that anxiety is still ruling the market, after appearing to have waned last week. The Dow and other major stock indexes touched new lows for 2010 earlier this month, then regained some ground when fears about a debt blowup in Europe began to ease.

Now, the concern is that cracks are appearing in the U.S. recovery. Since last week, several reports on housing and jobs have indicated that the economy's biggest trouble spots aren't getting much better. Even manufacturing, which has been one of the strongest areas of the economy, looked weaker in one report last week. Analysts warn against drawing big conclusions from a few reports but investors will want to see some better numbers for stocks to resume their climb.

The latest numbers point to "substantive holes in the economic recovery story," said Tom Samuels, portfolio manager of the Palantir Fund in Houston.

The Federal Reserve said Wednesday that the economy is continuing to recover, but that risks remain. It signaled that the problems in Europe are a risk for the U.S.

Mike Rubino, CEO of Rubino Financial Group in Troy, Mich., said investors had been expecting the economy to improve "at a much faster level" than they're seeing. That disappointment has pulled stocks from their 2010 highs in late April.

The government is set to release its final number Friday on gross domestic product for the first quarter.

Among stocks, Nike fell $2.89, or 4 percent, to $69.63, while Bed Bath & Beyond fell $2.34, or 5.6 percent, to $39.12.

Bank of America fell 41 cents, or 2.7 percent, to $15.02 and JPMorgan dropped 86 cents, or 2.2 percent, to $38.03.

Stocks of health care companies benefited from increased demand for investments considered reliable in a weak economy. Health care and consumer products maker Johnson & Johnson rose 61 cents to $59.60.

More than three stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 4.9 billion shares, compared with 4.6 billion Wednesday.

Britain's FTSE 100 fell 1.5 percent, Germany's DAX index dropped 1.4 percent, and France's CAC-40 fell 2.4 percent. Japan's Nikkei stock average rose 0.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Bank stocks shot higher Friday after an agreement on a financial regulation bill reassured investors that new rules won't devastate financial companies' profits.

Banks outdistanced the rest of the market after congressional negotiators agreed on a bill that increases the regulation of financial companies, but that doesn't include some of the harshest provisions that the government originally proposed. The legislation imposes new rules on the complex investments known as derivates, but the rules aren't as strict as investors feared.

It also includes a far milder version of what's been called the Volcker rule. That rule, named after former Federal Reserve Chairman Paul Volcker, would have banned commercial banks from trading simply to increase their profits, a practice known as proprietary trading.

*The NYSE DOW closed LOWER -8.99 points -0.09% on Friday June 25*
Sym. Last......... ........Change..........
Dow 10,143.81 -8.99 -0.09% 
Nasdaq 2,223.48 +6.06 +0.27% 
S&P 500 1,076.76 +3.07 +0.29% 
30-yr Bond 4.0710% -0.1700 

NYSE Volume 8,016,598,500  (prior day 5,643,810,500)
Nasdaq Volume 5,003,479,500  (prior day 2,055,848,750)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,046.47 -53.76 -1.05% 
DAX 6,070.60 -44.88 -0.73% 
CAC 40 3,519.73 -35.63 -1.00% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,737.48 -190.86 -1.92% 
Hang Seng 20,690.79 -42.70 -0.21% 
Straits Times 2,851.64 +4.03 +0.14% 

http://finance.yahoo.com/news/Bank-...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Bank stocks soar on financial regulation agreement

Bank stocks soar after lawmakers agree on financial regulation bill that's milder than feared *

Tim Paradis, AP Business Writer, On Friday June 25, 2010, 5:46 pm EDT 

NEW YORK (AP) -- Bank stocks shot higher Friday after an agreement on a financial regulation bill reassured investors that new rules won't devastate financial companies' profits.

Banks outdistanced the rest of the market after congressional negotiators agreed on a bill that increases the regulation of financial companies, but that doesn't include some of the harshest provisions that the government originally proposed. The legislation imposes new rules on the complex investments known as derivates, but the rules aren't as strict as investors feared.

It also includes a far milder version of what's been called the Volcker rule. That rule, named after former Federal Reserve Chairman Paul Volcker, would have banned commercial banks from trading simply to increase their profits, a practice known as proprietary trading.

Analysts said the deal removes a huge cloud that has hovered over the financial industry for much of this year. Investors have feared that intense regulation would devastate bank profits. Now, the market seems to believe that financial companies would do well even with the new limits on their business.

"They come out of this big-time winners," Bob Froehlich, senior managing director at Hartford Financial Services, said of financial companies. "Two years later, people will look back and say 'My gosh, nothing really changed.'"

Banks were the market's big performers on a day when the Dow Jones industrial average fell almost 9 points and the other major indexes had only slim gains.

Goldman Sachs Group Inc. rose 3.5 percent, while JPMorgan Chase & Co. gained 3.7 percent. Bank of America rose 2.7 percent and Citigroup Inc. rose 4.2 percent.

Regional banks also scored big gains. Suntrust Banks Inc. rose 4.7 percent and Synovus Financial Corp. gained 5.3 percent.

Investors had feared that the financial regulation bill would sharply curtail bank profits by limiting financial companies' ability to trade in derivatives. Companies and investors often use derivatives to hedge against losses. But some derivatives are purely speculative investments, and some of these derivatives have been blamed for contributing heavily to the collapse of the housing market and the 2008 financial crisis.

The legislation calls for most derivatives to be traded on regulated exchanges. But provisions of the bill that were investors' worst-case scenario, for example, an outright ban on banks' trading derivatives, were not included in the final agreement. Banks can still trade derivatives related to interest rates, foreign exchanges, gold and silver, investments that have contributed to their big profits. They would have to use subsidiaries with their own funds in order to trade in riskier derivatives. But the parent bank could still keep the profits from those trades.

"The bill could have been a lot worse," said Alan Valdes, vice president at Hilliard Lyons in New York. "It's a bill we can live with."

The legislation also allows banks to invest only up to 3 percent of their capital in private equity and hedge funds. That is a remnant of the original Volcker rule.

The agreement also alleviated another investor concern. A plan that would have had banks paying for the costs of unwinding mortgage giants Fannie Mae and Freddie Mac was not included in the bill that will now go to the House and Senate for final approval.

One reason why investors seem happy with the agreement is that they know banks will continue to lobby in Washington for looser regulations. In other words: The market doesn't believe that the bill, when it becomes law, will be in stone.

Froehlich also suggested that banks, now having a greater understanding of the regulatory environment, might be more willing to lend. That would help the economic recovery pick up more momentum, he said.

"It was the biggest uncertainty that's out there," Froehlich said. "Now that we know what financial reform is all about I really do believe that they are going to start lending again."

The stock market's overall gains were limited by the government's final report on the gross domestic product for the first quarter. The Commerce Department said the GDP, the broadest measure of the economy's health, rose at a 2.7 percent annual pace rather than the 3 percent previously estimated. The report follows a string of weaker-than-expected economic numbers in the past week and raised investors concerns about the recovery.

The Dow fell 8.99, or 0.1 percent, to 10,143.81. The broader Standard & Poor's 500 index rose 3.07, or 0.3 percent, to 1,076.76, and the Nasdaq composite index rose 6.06, or 0.3 percent, to 2,223.48.

For the week, the Dow is down 2.9 percent, while the S&P 500 is down 3.6 percent and the Nasdaq is off 3.7 percent. The market fell sharply Wednesday and Thursday in response to the disappointing economic reports.

The indexes fluctuated for much of the day, in part because of the annual reshuffling of stocks in the Russell indexes. That forces investors to buy and sell certain stocks if they have portfolios that follow the indexes.

The Russell 2000 index of smaller companies rose 11.94, or 1.9 percent, to 645.11.

Treasury prices rose, driving down interest rates. The 10-year Treasury note's yield fell to 3.11 percent from 3.14 percent late Thursday.

Goldman Sachs rose $4.68, or 3.5 percent, to $139.66, while JPMorgan Chase rose $1.41, or 3.7 percent, to $39.44. Bank of America rose 40 cents, or 2.7 percent, to $15.42, and Citigroup Inc. rose 16 cents, or 4.2 percent, to $3.94.

Suntrust Banks rose $1.14, or 4.7 percent, to $25.51. Synovus gained 14 cents, or 5.3 percent, and closed at $2.80

Almost four stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to a heavy 6.28 billion shares, up from 4.94 billion on Thursday. The big volume was the result of the buying and selling in Russell index component stocks.

The FTSE-100 index in London fell 1 percent, while Paris' CAC-40 index fell 1 percent and Frankfurt's DAX index lost 0.7 percent. Earlier, the Nikkei 225 index in Tokyo closed down nearly 2 percent.

5166


----------



## bigdog

Source: http://finance.yahoo.com

A darkening view of the economy sent bond market interest rates to their lowest level in 14 months and kept many investors out of the stock market.

The yield on the 10-year Treasury note, considered a benchmark because it's used to set rates on consumer loans including mortgages, fell to 3.03 percent Monday, its lowest point since late April 2009. At that time, the markets were still recovering from the devastation of the financial crisis and collapse in stocks.

Investors felt safer making their bets in the bond market and many avoided any kind of stock trades. All the major stock indexes fell by single digits. The New York Stock Exchange traded less than a billion shares on its selling floor, a number that's more likely to be seen in August or late December than in June.

*The NYSE DOW closed LOWER -0.05% points -0.09% on Monday June 28*
Sym. Last......... ........Change..........
Dow 10,138.52 -5.29 -0.05% 
Nasdaq 2,220.65 -2.83 -0.13% 
S&P 500 1,074.57 -2.19 -0.20% 
30-yr Bond 4.0130% -0.5800 

NYSE Volume 4,541,652,000  (prior day 8,016,598,500)
Nasdaq Volume 1,835,645,250  (prior day 5,003,479,500)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,071.68 +25.21 +0.50% 
DAX 6,157.22 +86.62 +1.43% 
CAC 40 3,576.45 +56.72 +1.61% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,693.94 -43.54 -0.45% 
Hang Seng 20,726.68 +35.89 +0.17% 
Straits Times 2,869.99 +18.35 +0.64% 

http://finance.yahoo.com/news/Interest-rates-fall-again-on-apf-8152078.html?x=0

*Interest rates fall again on investor pessimism

Interest rates keep falling as investor view of economy dims further; stocks edge lower *

Tim Paradis, AP Business Writers, On Monday June 28, 2010, 5:58 pm 

NEW YORK (AP) -- A darkening view of the economy sent bond market interest rates to their lowest level in 14 months and kept many investors out of the stock market.

The yield on the 10-year Treasury note, considered a benchmark because it's used to set rates on consumer loans including mortgages, fell to 3.03 percent Monday, its lowest point since late April 2009. At that time, the markets were still recovering from the devastation of the financial crisis and collapse in stocks.

Investors felt safer making their bets in the bond market and many avoided any kind of stock trades. All the major stock indexes fell by single digits. The New York Stock Exchange traded less than a billion shares on its selling floor, a number that's more likely to be seen in August or late December than in June.

Treasurys benefited from investors' growing gloom. The latest bit of bad economic news came from the Commerce Department, which said consumers saved more than they spent last month. The government said consumer spending rose 0.2 percent last month, just above the 0.1 percent growth forecast by economists polled by Thomson Reuters. However, personal income rose 0.4 percent.

Consumer spending remains a sticking point for the economy, which won't have a strong recovery until consumers fell more confident about buying again. With the recovery looking more uncertain, many investors are choosing to go with bonds because they are considered stable. And investors are willing to put up with bonds' lower returns simply because they are safer than stocks.

The 10-year note's 3.03 percent yield compared with 3.11 percent late Friday. It hasn't been this low since April 28 of last year.

Investors are also growing anxious ahead of the release of the government's June employment report on Friday. The May report was troubling because it showed that private employers are hiring few workers. That hurts the economy since consumers aren't likely to spend if they aren't working or are worried about losing their jobs.

Burt White, chief investment officer at LPL Financial in Boston, said the coming weeks will be important for investors because of the jobs report on Friday and the announcement of earnings for the April-June quarter. White said stronger profits could convince businesses to start investing more. That, economists hope, will lead to more hiring.

"Businesses have to commit to this recovery," White said.

The Dow Jones industrial average fell 5.29, or 0.1 percent, to 10,138.52 after being up 58 points.

The broader Standard & Poor's 500 index fell 2.19, or 0.2 percent, to 1,074.57. The Nasdaq composite index fell 2.83, or 0.1 percent, to 2,220.65.

Commodities, seen as risky investments along with stocks also fell, but their drop was also influenced by a stronger dollar. A rise in the dollar made commodities more expensive for foreign buyers. Crude oil fell 61 cents to $78.25 per barrel on the New York Mercantile Exchange, while gold fell.

The drop in commodities sent raw materials producers falling. Exxon Mobil Corp. 63 cents, or 1.1 percent, to $58.47, while gold producer Freeport-McMoRan fell $1.91, or 2.9 percent, to $64.66.

Meanwhile, tobacco stocks rose after the Supreme Court said it wouldn't take up a case between the government and tobacco makers. The decision prevents the government from getting billions of dollars from makers of cigarettes for anti-smoking campaigns. Reynolds American Inc. rose $2.08, or 4.1 percent, to $53.45, and Altria Group Inc., parent of Philip Morris USA, rose 64 cents, or 3.3 percent, to $20.34.

A separate decision from the court signaled that gun control laws in Chicago and a nearby suburb likely would be struck down by a lower court. That gave a boost to shares of gun makers. Smith & Wesson rose 23 cents, or 5.6 percent, to $4.33, while Sturm, Ruger & Co. climbed 33 cents, or 2.2 percent, to $15.39.

Retailers were hurt by the consumer spending report. Macy's Inc. lost 20 cents, or 1.1 percent, to $18.82, and Amazon.com Inc. fell $3.20, or 2.6 percent, to $117.80. Home Depot Inc. fell 61 cents, or 2 percent, to $29.59.

Eight stocks fell for every seven that rose on the NYSE. Volume on the exchange floor came to 942 million shares. Consolidated volume, which includes shares traded on other exchanges, totaled 3.94 billion, also a very low figure.

The Russell 2000 index of smaller companies fell 3.57, or 0.6 percent, to 641.54.

Britain's FTSE 100 rose 0.5 percent, Germany's DAX index gained 1.4 percent, and France's CAC-40 rose 1.6 percent. Japan's Nikkei stock average fell 0.5 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks and interest rates tumble on fears that recovery will fade; Consumer confidence slumps 

No matter where they look, investors are seeing economic trouble.

Stocks and interest rates plunged Tuesday after signs of slowing economies from China to the U.S. spooked traders who were already uneasy about a global recovery. The Dow Jones industrial average fell 268 points, or 2.7 percent, and dropped below 10,000. The benchmark Standard & Poor's 500 index dropped 3.1 percent to close at its lowest level since October.

Interest rates fell in the Treasury market after demand for the safety of government debt grew. The yield on the 10-year note dropped to 2.95 percent, the first time it has fallen below 3 percent since April 2009, when the markets were in the early stages of their recovery from the financial crisis. The yield is used as a benchmark for many consumer loans and mortgages. The yield on the two-year note hit a new low.

*The NYSE DOW closed LOWER -268.22 points -2.65% on Tuesday June 29*
Sym. Last......... ........Change..........
Dow 9,870.30 -268.22 -2.65% 
Nasdaq 2,135.18 -85.47 -3.85% 
S&P 500 1,041.24 -33.33 -3.10% 
30-yr Bond 3.9460% -0.6700 

NYSE Volume 7,257,867,500  (prior day 4,541,652,000)
Nasdaq Volume 2,789,542,250  (prior day 1,835,645,250)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 4,914.22 -157.46 -3.10% 
DAX 5,952.03 -205.19 -3.33% 
CAC 40 3,432.99 -143.46 -4.01% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,570.67 -123.27 -1.27% 
Hang Seng 20,209.97 -516.71 -2.49% 
Straits Times 2,830.34 -39.65 -1.38% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks skid on renewed fears of global slowdown

Stocks and interest rates tumble on fears that recovery will fade; Consumer confidence slumps *

Tim Paradis, AP Business Writer, On Tuesday June 29, 2010, 5:58 pm 

NEW YORK (AP) -- No matter where they look, investors are seeing economic trouble.

Stocks and interest rates plunged Tuesday after signs of slowing economies from China to the U.S. spooked traders who were already uneasy about a global recovery. The Dow Jones industrial average fell 268 points, or 2.7 percent, and dropped below 10,000. The benchmark Standard & Poor's 500 index dropped 3.1 percent to close at its lowest level since October.

Interest rates fell in the Treasury market after demand for the safety of government debt grew. The yield on the 10-year note dropped to 2.95 percent, the first time it has fallen below 3 percent since April 2009, when the markets were in the early stages of their recovery from the financial crisis. The yield is used as a benchmark for many consumer loans and mortgages. The yield on the two-year note hit a new low.

The markets began the day by following Asian and European stocks lower. Asian exchanges fell after an index that forecasts economic activity for China was revised lower. European stocks continued the slide after Greek workers walked off the job to protest steep budget cuts.

Then, shortly after U.S. trading began, the market was hit with news that consumer confidence fell sharply this month because of worries about jobs and the overall economy. The Conference Board's Consumer Confidence Index fell to 52.9 from a revised 62.7 in May. It was the steepest drop since February and economists polled by Thomson Reuters had forecast only a modest dip.

Investors are also anxious as they wait for the Labor Department's monthly employment report on Friday. Companies have indicated that business is getting better, yet there are few signs that they are ready to hire in big numbers. The government is expected to say that the unemployment rate rose 0.1 percentage point to 9.8 percent in June.

Industrial stocks suffered some of the steepest drops on fears that a stalled global rebound will cut demand. Aircraft maker Boeing Co. led the Dow lower with a drop of 6.3 percent. Caterpillar Inc., the maker of construction and mining equipment, lost 5.5 percent. Shares of coal producers pulled energy stocks lower on worries about a slowdown.

Investors have been so burned by the financial crisis of 2008-09 that they fear any hint of a slowdown means the economy will start tanking again. And they're selling heavily at the end of the day, fearful about negative economic news that could start coming out of Asia just hours after U.S. trading ends.

Paul Zemsky, head of asset allocation at ING Investment Management in New York, said investors are wrestling with two opposing ideas of where the economy is headed. He said the more likely case is that the recovery continues and corporate earnings growth make stocks look cheap right now. The darker scenario is that government budget cuts, the end of fiscal stimulus, problems in Europe and a slowdown in China lead to a double-dip in the global economy.

Investors' indecision and uneven economic reports have brought big swings to stocks since late April when debt problems in Greece began to pound world markets.

"The central issue that any investor faces today is fire or ice," Zemsky said. "There's no in-between. It's either one or the other."

The Dow fell 268.22, or 2.7 percent, to 9,870.30, its lowest close since June 7. During the last hour, the Dow was down 326.60. The Dow has fallen 428 points, or 4.2 percent, in the past four days.

The Standard & Poor's 500 index fell 33.33, or 3.1 percent, to 1,041.24. It was the lowest close for the S&P since Oct. 5 and the fifth drop of more than 3 percent in the past year. The index is now down 14.5 percent from its 2010 peak in April.

The Nasdaq composite index fell 85.47, or 3.9 percent, to 2,135.18.

Only about 260 stocks rose while about 2,840 fell at the New York Stock Exchange, where consolidated volume came to 6.3 billion shares, compared with a light 3.9 billion Monday.

Mike Shea, managing partner at Direct Access Partners LLC in New York, took some comfort in the fact that the market closed off its lowest level of the day. That signaled that some buyers were willing to step in.

"Getting that little pop at the end of the day -- it's kind of losing a football game 35-0 and then scoring a touchdown in the last five minutes," he said.

Shea cautioned that trading could continue to be volatile Wednesday, which is the final day of the quarter and the first half. For some traders, it's the last day of their fiscal year. "The market can be a little wacky on the last days of quarters," he said.

Crude oil fell $2.31 to $75.94 per barrel on the New York Mercantile Exchange.

The yield on the two-year Treasury note traded as low as 0.59 percent, below the 0.60 percent from December 2008 during the peak of the financial crisis.

The Chicago Board Options Exchange's Volatility Index rose 17.7 percent. The VIX is known as the market's fear gauge because a rise signals traders are expecting more drops in stocks.

Zemsky said there isn't much until the start of corporate earnings reports next month that likely will give investors solid answers about the direction of the economy. Until then, Friday's June jobs report is the one standout. Even with a good report, investors might still be focused on earnings. The May jobs numbers were a disappointment because private employers hired only 41,000 workers.

"I don't think Friday payrolls can do a lot to bring the market a whole lot higher if they're good. But if they're bad, it's really 'Look out below,'" Zemsky said.

A drop in the euro to $1.2181 was another sign of traders' nervousness. A slide in the 16-nation currency has for months indicated fading confidence in Europe's ability to handle big budget deficits.

Greece is required to make the cuts under terms of a bailout from other European Union members and the International Monetary Fund. Protests over government cost-cutting in Greece renewed concerns about how well European countries will be able to stick to austerity plans.

In other trading, Chinese markets fell after the Conference Board's Leading Economic Index for China was revised to 0.3 percent for April from 1.7 percent.

Boeing fell $4.26, or 6.3 percent, to $63.04 and Caterpillar, also a Dow stock, fell $3.55, or 5.5 percent, to $60.85.

Coal company Peabody Energy Corp. fell $3.16, or 7.4 percent, to $39.33, while mining company Massey Energy Co. fell $2.25, or 7.5 percent, to $27.95.

The Russell 2000 index of smaller companies fell 25.58, or 4 percent, to 615.96.

The Shanghai composite index fell 4.3 percent to a 14-month low. Japan's Nikkei stock average fell 1.3 percent. Britain's FTSE 100 fell 3.1 percent, Germany's DAX index dropped 3.3 percent, and France's CAC-40 fell 4 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks slump for April-June quarter after investors worry they bet too soon on the economy 

The stock market closed out a painful second quarter Wednesday and left investors with heavy losses and far more doubts about the economy than they had just months ago.

Stocks had their worst quarterly performance since the financial crisis. The Standard & Poor's 500 index, considered by many professional investors to be the best measure of the market's health, lost 11.9 percent, while the Dow Jones industrial average lost 10 percent. Both indexes are at their lows for 2010.

Meanwhile, Treasury notes and bonds soared during the quarter, driving interest rates sharply lower, as investors turning away from stocks sought a place where their money would be safe. In the early days of the quarter, the yield on the Treasury's 10-year note, used as a base for setting rates on consumer loans including mortgages, was close to 4 percent. By the quarter's end, it had fallen to 2.94 percent.

*The NYSE DOW closed LOWER -96.28  points -0.98% on Wednesday June 30*
Sym. Last......... ........Change..........
Dow 9,774.02 -96.28 -0.98% 
Nasdaq 2,109.24 -25.94 -1.21% 
S&P 500 1,030.71 -10.53 -1.01% 
30-yr Bond 3.9090% -0.3700 

NYSE Volume 6,017,434,000  (prior day 7,257,867,500)
Nasdaq Volume 2,229,297,750 (prior day  2,789,542,250)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 4,916.87 +2.65 +0.05% 
DAX 5,965.52 +13.49 +0.23% 
CAC 40 3,442.89 +9.90 +0.29% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,382.64 -188.03 -1.96% 
Hang Seng 20,128.99 -119.91 -0.59% 
Straits Times 2,835.51 +5.17 +0.18% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks end rough quarter with more questions

Stocks slump for April-June quarter after investors worry they bet too soon on the economy *

Tim Paradis and Bernard Condon, AP Business Writers, On Wednesday June 30, 2010, 5:56 pm 

NEW YORK (AP) -- The stock market closed out a painful second quarter Wednesday and left investors with heavy losses and far more doubts about the economy than they had just months ago.

Stocks had their worst quarterly performance since the financial crisis. The Standard & Poor's 500 index, considered by many professional investors to be the best measure of the market's health, lost 11.9 percent, while the Dow Jones industrial average lost 10 percent. Both indexes are at their lows for 2010.

Meanwhile, Treasury notes and bonds soared during the quarter, driving interest rates sharply lower, as investors turning away from stocks sought a place where their money would be safe. In the early days of the quarter, the yield on the Treasury's 10-year note, used as a base for setting rates on consumer loans including mortgages, was close to 4 percent. By the quarter's end, it had fallen to 2.94 percent.

On the last day of the April-June period, the Dow lost 96 points, and all the big indexes were down about 1 percent.

Using the S&P 500 as a benchmark, stocks had their worst quarterly loss since the fourth quarter of 2008, when the index plunged 22.6 percent. For the first half, the index is down 7.8 percent, its worst first-half showing since the 13.8 percent it loss at the start of 2002.

The market lost about $1.6 trillion in value during the quarter, as measured by the Dow Jones U.S. Total Stock Market Index, which tracks nearly all U.S.-based companies.

Investors spent much of the quarter repeating the same questions they had a year earlier: Can the economy continue its recovery? Analysts say the answer most likely is yes but that traders are realizing it won't be easy.

After reaching its highest point since the financial crisis in April, the market began its plunging in May when investors grew fearful that Greece wouldn't make good on debt payments. Its economy represents only a tiny part of the European Union but traders worried that bad debt would trip up the world's financial system the way it did after the collapse of Lehman Brothers in September 2008. Those fears morphed into concerns about how much countries have been spending to revive growth.

Investors who still feel burned by the losses of the financial crisis also seized on mixed economic news as an indication that the rebound was sputtering. Now, investors are trying to determine how the recovery will play out.

Economist Joel Naroff of Naroff Economic Advisors says investors are disappointed the economy is not growing as strongly as they had anticipated earlier this year amid talk of a so-called V-shaped recovery, in which the economy rebounds sharply after its big drop. But he thinks investors have sold too much.

"They're thinking, 'Gee, if we're not getting a V-shaped recovery, we'll get a double dip.' They've gone from euphoria to depression," Naroff says. "The reality is somewhere in between."

Ted Aronson, a partner at Aronson-Johnson-Ortiz in Philadelphia, was a little baffled by traders' attitudes during the quarter.

"I don't know what's going on. (The markets) are always interesting. But this is really wacky," he said.

Some analysts said the rocky second quarter was to be expected, given the market's history of recovering from big drops like the one stocks suffered during the 2008-09 financial crisis.

Sam Stovall, chief investment strategist of U.S. equity research at Standard & Poor's, dates the end of the latest recession to August of last year. That means the now-complete second quarter is the third full quarter since the recession's end. He noted that stocks drops are not uncommon in such a period; in fact, they happened following three of the four recessions prior to the latest one.

"Investors anticipate what's going to happen (in a recovery), and sometimes they over-anticipate," Stovall said. After a couple of quarters pass, investors go through a "reality readjustment."

And apparently they're still not through at that point: Prices also tend to fall in the fourth quarter after recessions end, though Stovall cautions his data is more a curiosity than conclusive.

The quarter's final day saw a last-hour selloff that has become standard operating procedure, especially when a big economic number like the government's June employment report due out Friday is imminent.

Karl Mills, chief Investment Officer at money manager Jurika, Mills & Kiefer, pointed to a lack of buyers in the market that forced sellers to keep lowering their prices to get someone to buy.

"No one wants to be a hero. Everyone is looking to employment numbers coming out Friday," he said.

The Dow fell 96.28, or 1 percent, to 9,774.02. The Standard & Poor's 500 index fell 10.53, or 1 percent, to 1,030.71, while the Nasdaq composite index fell 25.94, or 1.2 percent, to 2,109.24.

Losing stocks outnumbered gainers on the New York Stock Exchange by about 2 to 1. Consolidated volume came to 5.3 billion shares, compared with 6.3 billion on Tuesday.

The industries that suffered the most losses during the quarter were energy companies and materials producers, according to S&P. Both industries were hurt by a drop in commodities prices. Commodities, like stocks, were seen as too risky for many investors to hold on to.

Utilities and telecommunications stocks, while also losing ground, outperformed the rest of the market.

Investors kept shifting their focus during the quarter. When they first began worrying about the possible spillover of Europe's economic problems to the U.S., they were ignoring upbeat signs about the domestic recovery. But as the quarter wore on, U.S. economic reports became more mixed. And while Federal Reserve Chairman Ben Bernanke and other economists kept making reassuring comments about the recovery, investors gave in to their fears and sold heavily. Triple-digit losses in the Dow became commonplace.

As the third quarter starts, the focus will be on the upcoming jobs report, and, in the weeks ahead, companies second-quarter earnings reports and forecasts for the coming quarters. Any disappointments are likely to keep sending stocks lower.

On Wednesday, ADP said private employers added just 13,000 jobs in June. That's well short of the forecast of 60,000 from economists polled by Thomson Reuters. The ADP report is often seen as a precursor to the government's monthly jobs report, which is expected Friday.

The Labor Department report is expected to say that employers cut 110,000 jobs in June. However, economists predict the bulk of the loss is tied to the government laying off temporary workers hired for the 2010 census.

Companies have been slow to add jobs coming out of the recession. Consumer confidence has fallen and spending has not picked up as investors had hoped because there are still so many people out of work.

As investors pulled out of stocks throughout the quarter, U.S. Treasurys and gold were big beneficiaries. The perceived safety of the two helped push bond and gold prices higher.

The yield on the 10-year Treasury note, which moves opposite its price, went below 3 percent for the first time in more than a year on Tuesday, falling to 2.97 percent. It came off that low Wednesday, rising to 2.94 percent.

Gold rose $1.70 to $1,244.10 an ounce Wednesday, and is up nearly 12 percent for the quarter.

The Russell 2000 index of smaller companies fell 6.47, or 1 percent, to 609.49.

Britain's FTSE 100 edged up 0.1 percent, Germany's DAX index gained 0.2 percent, and France's CAC-40 rose 0.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks drop moderately after reports on jobs, manufacturing; Dow industrials fall to 2010 low 

Stocks began the third quarter with another loss after reports on jobs, housing and manufacturing raised investors' economic worries.

The Dow Jones industrial average fell nearly 42 points Thursday for its sixth straight loss, although it ended well off its lows ahead of the government's June jobs report. The report is critical because a rebound in jobs is needed for the economy to recover. The numbers are due before the start of trading Friday.

Anthony Chan, chief economist at J.P. Morgan Private Wealth Management in New York, said expectations are now so low that the market could get a pop from the report. "So many people are so set up for such a negative number that even if the number shows any signs of life there may be some sort of a relief rally," Chan said.


*The NYSE DOW closed LOWER -41.49 points -0.42% on Thursday July 1*
Sym. Last......... ........Change..........
Dow 9,732.53 -41.49 -0.42% 
Nasdaq 2,101.36 -7.88 -0.37% 
S&P 500 1,027.37 -3.34 -0.32% 
30-yr Bond 3.8680% -0.4100 

NYSE Volume 7,594,671,500  (prior day 6,017,434,000)
Nasdaq Volume 2,684,100,750  (prior day 2,229,297,750)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 4,805.75 -111.12 -2.26% 
DAX 5,857.43 -108.09 -1.81% 
CAC 40 3,339.90 -102.99 -2.99% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,191.60 -191.04 -2.04% 
Hang Seng 20,128.99 -119.91 -0.59% 
Straits Times 2,820.35 -15.16 -0.53% 

http://finance.yahoo.com/news/Job-w...0.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Job worries hurt stocks at start of 3rd quarter

Stocks drop moderately after reports on jobs, manufacturing; Dow industrials fall to 2010 low *

Tim Paradis, AP Business Writer, On Thursday July 1, 2010, 5:16 pm 

NEW YORK (AP) -- Stocks began the third quarter with another loss after reports on jobs, housing and manufacturing raised investors' economic worries.

The Dow Jones industrial average fell nearly 42 points Thursday for its sixth straight loss, although it ended well off its lows ahead of the government's June jobs report. The report is critical because a rebound in jobs is needed for the economy to recover. The numbers are due before the start of trading Friday.

Anthony Chan, chief economist at J.P. Morgan Private Wealth Management in New York, said expectations are now so low that the market could get a pop from the report. "So many people are so set up for such a negative number that even if the number shows any signs of life there may be some sort of a relief rally," Chan said.

The latest economic reports followed a bad second quarter for investors and added to the importance of Friday's snapshot of the labor market.

The government said initial claims for unemployment benefits rose by 13,000 last week to 472,000. Economists had forecast a drop in claims. The report comes a day after payroll company ADP said private employers didn't increase hiring as much as expected last month.

Other economic news added to investors' concerns. The National Association of Realtors said the number of buyers who signed contracts to purchase homes fell to a new low in May following a rush of purchases to meet an April 30 tax credit deadline. Meanwhile, the Institute for Supply Management said its manufacturing index fell in June but that industrial activity still appears to be growing.

There were some pockets of strength in the market Thursday. Retail stocks mostly rose after a private equity firm disclosed that it purchased a 9.5 percent stake in BJ's Wholesale Club Inc. with the intention of taking it private. BJ's shares rose 17.6 percent. Limited Brands Inc., parent of the Victoria's Secret and Bath and Body Works chains, rose 2.9 percent after Fitch Ratings raised its ratings on the company's credit.

The stock market has been sliding on concerns about the economy since hitting its 2010 high in late April. The benchmark Standard & Poor's 500 index dropped nine of the past 10 days. Investors are worried that they were too quick to bet on a rebound after major indexes plunged to 12-year lows in March 2009.

The Dow fell 41.49, or 0.4 percent, to 9,732.53. It was the lowest close since October 2009. It was down as much as 152 points in late morning trading. The Dow hasn't dropped six straight days since mid-January 2009.

The S&P 500 index fell 3.34, or 0.3 percent, to 1,027.37. The Nasdaq composite index fell 7.88, or 0.4 percent, to 2,101.36.

The Dow dropped 10 percent for the April-June quarter, while the S&P 500 index fell 11.9 percent.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3 percent from 2.94 percent late Wednesday. Its yield fell below 3 percent this week for the first time in more than a year on fears that the economy would slip back into recession.

There were signs Thursday that some traders think the slide has been overdone: Treasury bond yields rebounded after sliding early in the day. The euro rose sharply against the dollar in a sign of confidence in Europe's economy. Also, the market's fear gauge fell. A drop in stocks usually drives the Chicago Board Options Exchange's Volatility Index higher. Instead, the VIX dropped 4.9 percent.

John Canally, economist at LPL Financial in Boston, said traders were so scarred by the market's crash in 2008-09 that they have seeing lackluster economic numbers as signs that growth is going to disappear rather than just slow.

"You see this almost every time 12-15 months after the end of a recession. You hit sort of a soft spot," Canally said.

Canally said the likelihood of a so-called "double dip," in which the economy begins to shrink again, has risen in the past month to about 20 percent from 10 percent. He said investors are far more pessimistic. "I would say the market is now over 50" percent, he said.

The dollar fell Thursday along with commodities including oil and gold. Crude oil fell $2.68, or 3.5 percent, to $72.95 per barrel.

The June jobs report is expected to show that employers cut about 110,000 positions for the month. That figure reflects the loss of about 240,000 temporary census jobs.

Investors are more focused on hiring by businesses because that is a key factor needed to revive the economy. Economists polled by Thomson Reuters forecast that private employers added 112,000 jobs. That would be far above the 41,000 added in May. The overall unemployment rate is expected to rise to 9.8 percent from 9.7 percent in May.

Among individual stocks, BJ's rose $6.22, or 16.8 percent, to $43.23, while Limited rose 63 cents, or 2.9 percent, to $22.70.

Two stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.1 billion shares compared with 790 million traded at the same point Wednesday.

The Russell 2000 index of smaller companies fell 5.30, or 0.9 percent, to 604.19.

Britain's FTSE 100 dropped 2.3 percent, Germany's DAX index fell 1.8 percent, and France's CAC-40 lost 3 percent. Japan's Nikkei stock average fell 2 percent.


----------



## bigdog

Source: http://finance.yahoo.com

*For the week, the Dow dropped 4.5 percent. The S&P 500 index lost 5 percent, while the Nasdaq dropped 5.9 percent.*

*Holiday Monday in NY for long Independence Day weekend *

A disappointing jobs report sent stocks falling Friday and gave the Dow Jones industrial average its longest losing streak since the worst days of the financial crisis.

The Dow dropped 46 points Friday for its seventh straight loss and its longest slide since October 2008. The Dow and other major indexes posted big losses for a second straight week.

Investors found new reason to worry that the economic recovery is losing momentum after the government said private employers added only 83,000 jobs last month, fewer than the 112,000 analysts had forecast.

Light trading ahead of the long Independence Day weekend brought choppy moves, particularly in the final hour. The Dow was essentially flat in the last five minutes before sliding just before the close.


*The NYSE DOW closed LOWER -46.05 points -0.47% on Friday July 2*
Sym. Last......... ........Change..........
Dow 9,686.48 -46.05 -0.47% 
Nasdaq 2,091.79 -9.57 -0.46% 
S&P 500 1,022.58 -4.79 -0.47% 
30-yr Bond 3.9410% +0.7300 

NYSE Volume 4,681,014,500  (prior day 7,594,671,500)
Nasdaq Volume 1,647,803,120  (prior day 2,684,100,750)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 4,850.21 +44.46 +0.93% 
DAX 5,860.55 +3.12 +0.05% 
CAC 40 3,358.07 +18.17 +0.54% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,203.71 +12.11 +0.13% 
Hang Seng 19,905.32 -223.67 -1.11% 
Straits Times 2,842.34 +21.99 +0.78% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks fall as jobs report adds to economic fears

Stocks drop ahead of long holiday weekend as June jobs report finds weak hiring by businesses *

Tim Paradis, AP Business Writer, On Friday July 2, 2010, 5:55 pm EDT 
NEW YORK (AP) -- A disappointing jobs report sent stocks falling Friday and gave the Dow Jones industrial average its longest losing streak since the worst days of the financial crisis.

The Dow dropped 46 points Friday for its seventh straight loss and its longest slide since October 2008. The Dow and other major indexes posted big losses for a second straight week.

Investors found new reason to worry that the economic recovery is losing momentum after the government said private employers added only 83,000 jobs last month, fewer than the 112,000 analysts had forecast.

Light trading ahead of the long Independence Day weekend brought choppy moves, particularly in the final hour. The Dow was essentially flat in the last five minutes before sliding just before the close.

Reports on jobs earlier in the week had diminished expectations for the latest and most important snapshot of the labor market. Payroll company ADP said private employment was weaker than expected, while the government said initial claims for unemployment benefits rose unexpectedly last week.

Investors are focused on business hiring because that makes up the bulk of the country's work force. Also, overall jobs numbers have been skewed in recent months by temporary census workers. With many of those jobs gone, it was again clear that businesses aren't adding to payrolls as quickly as most investors would like.

"The small businessman refuses to play here," said Linda Duessel, equity market strategist at Federated Investors in Pittsburgh. She said business leaders don't yet have the confidence to hire and are in some cases relying on temporary workers. The enduring jobs problems are raising concerns that the economy will begin sliding again. Many economists say that's unlikely but still a worry.

"We're going to need, as a market, something to make us believe that the double-dip scenario is wrong," Duessel said, referring to the possibility of a second recession. "A soft patch is normal."

She said earnings reports for the April-June quarter could boost sentiment if companies also give upbeat forecasts.

The government cut 225,000 census jobs in June. Overall, 125,000 workers lost their jobs last month, more than the drop of 110,000 analysts predicted. The unemployment rate did drop unexpectedly, sliding to 9.5 percent from 9.7 percent. Economists polled by Thomson Reuters had expected it to rise to 9.8 percent. However, the decrease came as some people gave up looking for work. That means they weren't counted among the unemployed.

The government also reported that factory orders fell in May for the first time in nine months. The 1.4 percent drop was the biggest since March 2009, when major stock indexes hit a 12-year low. The drop unnerved traders because manufacturing has been one of the strongest areas of the economy.

Pessimism has been growing since late April about the health of the global economy. Debt problems in Greece and other European countries gave way to concerns about the pace of the U.S. recovery. The Dow dropped 10 percent for the second quarter, which ended Wednesday, while the Standard & Poor's 500 index lost 11.9 percent.

"Clearly there is a loss of momentum," Bob Baur, chief global economist at Principal Global Investors, said about the recovery. He said the slide in stocks could hurt the economy by eroding confidence. Still, he said a double-dip is unlikely in part because incomes are ticking higher and consumers are slowly boosting spending. "We just don't see the typical things that start another recession," Baur said.

The Dow fell 46.05, or 0.5 percent, to 9,686.48, its lowest close since Oct. 5 2009. The Dow hasn't fallen for seven straight days since an eight-day loss that ended Oct. 10, 2008.

The Standard & Poor's 500 index fell 4.79, or 0.5 percent, to 1,022.58.

The Dow is now down 13.6 from its 2010 high of 11,205.03, while the S&P 500 is down 16 percent from its high of 1,217.28.

The Nasdaq composite index fell 9.57, or 0.5 percent, Friday to 2,091.79.

For the week, the Dow dropped 4.5 percent. The S&P 500 index lost 5 percent, while the Nasdaq dropped 5.9 percent.

The S&P 500's two-week drop is the worst since early May.

Demand for Treasurys weakened after spiking earlier in the week as investors sought a safe place for their money. The yield on the 10-year note, which moves opposite its price, rose to 2.98 percent from 2.95 percent late Thursday. Its yield is used as a benchmark for interest rates on some mortgages and other consumer loans.

Crude oil fell 81 cents to $72.14 per barrel on the New York Mercantile Exchange. Gold rose.

Daniel Penrod, senior industry analyst for the California Credit Union League, said some businesses are going to put off hiring until there is more certainty about the economy.

"I don't see business really taking huge risks right now to build when they don't think people are going to be walking through the door," Penrod said.

The coming week could bring more insight into the economy if companies begin to drop hints about their earnings and forecasts. U.S. markets are closed Monday in observance of Independence Day. Tuesday brings a report on services businesses, which make up the biggest chunk of the economy.

Three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume came to 4 billion shares, compared with 6.2 billion Thursday.

The Russell 2000 index of smaller companies fell 5.79, or 1 percent, to 598.97. The Russell dropped 7.2 percent for the week.

Britain's FTSE 100 rose 0.7 percent, Germany's DAX index fell 0.4 percent, and France's CAC-40 rose 0.3 percent. Japan's Nikkei stock average rose 0.1 percent.

5760


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average broke a seven-day slide Tuesday after traders sifted through the market for beaten-down stocks.

The Dow rose 57 points, or 0.6 percent, after dropping 7.3 percent in just the past two weeks and reaching its lowest level since October. Traders were looking to pick up stocks while they're still cheap, but the buying was selective and there were more losing stocks than gainers on the New York Stock Exchange. The Dow rose as much as 172 points in morning trading but also fell into the red by mid-afternoon.

"There are pockets of opportunity out there. There are some areas with good valuations," said Aaron Reynolds, senior portfolio analyst at Robert W. Baird in Milwaukee.

*The NYSE DOW closed HIGHER +57.14 points +0.59% on Tuesday July 6*
Sym. Last......... ........Change..........
Dow 9,743.62 +57.14 +0.59% 
Nasdaq 2,093.88 +2.09 +0.10% 
S&P 500 1,028.06 +5.48 +0.54% 
30-yr Bond 3.8920% -0.4900 

NYSE Volume 5,618,450,500  (prior day 4,681,014,500)
Nasdaq Volume 2,185,501,500  (prior day 1,647,803,120)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 4,965.00 +141.47 +2.93% 
DAX 5,940.98 +124.78 +2.15% 
CAC 40 3,423.36 +90.90 +2.73% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,338.04 +71.26 +0.77% 
Hang Seng 20,084.12 +241.92 +1.22% 
Straits Times 2,868.02 +24.00 +0.84% 

http://finance.yahoo.com/news/Dow-i...6.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Dow industrials climb 57 to break seven-day slide

Traders hunting for beaten-down stocks lift stocks; Dow gains 57 points but ends off its high *

Tim Paradis, AP Business Writer, On Tuesday July 6, 2010, 5:41 pm EDT 

NEW YORK (AP) -- The Dow Jones industrial average broke a seven-day slide Tuesday after traders sifted through the market for beaten-down stocks.

The Dow rose 57 points, or 0.6 percent, after dropping 7.3 percent in just the past two weeks and reaching its lowest level since October. Traders were looking to pick up stocks while they're still cheap, but the buying was selective and there were more losing stocks than gainers on the New York Stock Exchange. The Dow rose as much as 172 points in morning trading but also fell into the red by mid-afternoon.

"There are pockets of opportunity out there. There are some areas with good valuations," said Aaron Reynolds, senior portfolio analyst at Robert W. Baird in Milwaukee.

High-tech and oil service companies were among the market leaders. But retailers slumped amid downbeat comments from analysts and ahead of reports later in the week on June sales. Investors are concerned that a weakening of the economic recovery will keep cautious consumers out of stores. Macy's Inc. fell 2.5 percent, while Home Depot Inc. lost 1.5 percent.

The unevenness to the day's moves signaled that traders remain on edge about the economy.

Brian Dolan, chief currency strategist at Forex.com in Bedminster, N.J., said a rise in Treasury prices made it clear that worries remain. Treasurys have been rallying during the past month as investors worried about where the economy is heading looked for a safe place for their money.

"We've obviously ratcheted down the outlook and now it's a question of how much further," Dolan said, referring to the economy. "From here I would expect to see further weakness."

The day's economic news didn't offer investors much incentive to buy. The Institute for Supply Management, a trade group of purchasing executives, said growth in services businesses slowed last month. Its services index fell to 53.8 from 55.4 in May. Economists polled by Thomson Reuters forecast a reading 55.0. Anything above 50 indicates growth.

The Dow rose 57.14, or 0.6 percent, to 9,743.62. The broader Standard & Poor's 500 index rose 5.48, or 0.5 percent, to 1,028.06, and the Nasdaq composite index rose 2.09, or 0.1 percent, to 2,093.88.

The market's advance came after stocks dropped Friday on a report found that employers didn't ramp up hiring as much as economists had forecast. It was the second straight month hiring by private employers missed expectations. U.S. markets were closed Monday for Independence Day.

Meanwhile, bond prices rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.94 percent from 2.98 percent late Friday.

Crude oil fell 16 cents to settle at $71.98 a barrel on the New York Mercantile Exchange.

Oil service companies rose after a Barclays Capital analyst upgraded ratings for the industry. Halliburton Inc. rose 72 cents, or 2.8 percent, to $26.46.

Some of the tech stocks that were pounded in recent weeks had a natural bounce back. Microsoft Inc. rose 55 cents, or 2.4 percent, to $23.82. Intel Corp. rose 28 cents, or 1.5 percent, to $19.48.

Macy's fell 44 cents, or 2.5 percent, to $17.41, while Home Depot fell 42 cents, or 1.5 percent, to $27.34.

The number of stocks that fell narrowly outpaced those that rose on the NYSE, where volume came to 1.3 billion shares, compared with 1.1 billion Friday.

The Russell 2000 index of smaller companies fell 8.94, or 1.5 percent, to 590.03.

Overseas markets rose after investors found stock prices more attractive and Australia's central bank issued an upbeat forecast for the country's economy. Britain's FTSE 100 rose 2.9 percent, Germany's DAX index gained 2.2 percent, and France's CAC-40 jumped 2.7 percent. Japan's Nikkei stock average rose 0.8 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrials climbed back above 10,000 Wednesday after investors had second thoughts about the heavy selling in the stock market during the last two weeks.

Stocks soared and the Dow rose 275 points after a modest gain Tuesday. It was the market's first back-to-back advance since mid-June and the first close above psychological benchmark of 10,000 since June 28. But analysts warn that the buying doesn't mean that investors are more optimistic. They said there wasn't a single catalyst behind the move and that it looked like a case of investors scooping up stocks that had become cheaper after heavy losses. The Dow had fallen 7.3 percent over two weeks.

"It's just more of a reaction to a little bit too much negativity," said Marc Harris, co-head of global research for RBC Capital Markets in New York.

The Dow and broader indexes gained more than 2 percent. Trading volume was light, however, signaling that many skeptical investors were staying out of the market. Interest rates rose as some investors dumped Treasurys in favor of riskier assets like stocks.

*The NYSE DOW closed HIGHER +274.66 points +2.82% on Wednesday July 7*
Sym. Last......... ........Change..........
Dow 10,018.28 +274.66 +2.82% 
Nasdaq 2,159.47 +65.59 +3.13% 
S&P 500 1,060.27 +32.21 +3.13% 
30-yr Bond 3.9540% +0.6200 

NYSE Volume 5,869,736,500  (prior day 5,618,450,500)
Nasdaq Volume 2,190,606,000  (prior day 2,185,501,500)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,014.82 +49.82 +1.00% 
DAX 5,992.86 +51.88 +0.87% 
CAC 40 3,483.44 +60.08 +1.75% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,279.65 -58.39 -0.63% 
Hang Seng 19,857.07 -227.05 -1.13% 
Straits Times 2,859.38 -8.64 -0.30% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks surge as financials, materials jump

Stocks leap after traders snap up banks, materials shares; Dow gains 275 to top 10,000 *

Tim Paradis, AP Business Writer, On Wednesday July 7, 2010, 5:54 pm EDT 

NEW YORK (AP) -- The Dow Jones industrials climbed back above 10,000 Wednesday after investors had second thoughts about the heavy selling in the stock market during the last two weeks.

Stocks soared and the Dow rose 275 points after a modest gain Tuesday. It was the market's first back-to-back advance since mid-June and the first close above psychological benchmark of 10,000 since June 28. But analysts warn that the buying doesn't mean that investors are more optimistic. They said there wasn't a single catalyst behind the move and that it looked like a case of investors scooping up stocks that had become cheaper after heavy losses. The Dow had fallen 7.3 percent over two weeks.

"It's just more of a reaction to a little bit too much negativity," said Marc Harris, co-head of global research for RBC Capital Markets in New York.

The Dow and broader indexes gained more than 2 percent. Trading volume was light, however, signaling that many skeptical investors were staying out of the market. Interest rates rose as some investors dumped Treasurys in favor of riskier assets like stocks.

Financial stocks rose on an upbeat profit forecast from State Street Corp. The stock gained 9.9 percent. Materials stocks rose after having logged steep drops over worries about the economy. Aluminum producer Alcoa Inc. climbed 3.3 percent, while U.S. Steel rose 5.7 percent.

Wednesday's big gain fit into a pattern of volatility that began in late April, when the Dow began tumbling from its 2010 high of 11,205.03. The Dow had fallen 13 percent since then, and the long slide included many triple-digit moves.

The protracted drop began on concerns that debt problems in Greece and other European countries would stifle the continent's recovery and eventually the recovery in the U.S. But in the past few weeks, stocks have been tumbling on signs that the domestic rebound is slowing. Some traders were selling on fears that the country is headed back into recession. They were also buying Treasurys so they could put their money into a safe place.

Jack Ablin, chief investment officer at Harris Private Bank in Chicago, said that what's called a "double-dip" is unlikely, but the idea of one is scary because the government wouldn't have many options to revive the economy a second time.

"When you're driving around on a spare tire you're on the lookout for nails," he said.

There were no economic reports to influence the market on Wednesday. Traders were getting a series of reports Thursday likely to give some insight into consumers' behavior. The government's weekly report on jobless claims is due out, and retailers will report June sales results. Investors will be looking for any signs that layoffs are slowing, and that consumers are feeling better about spending.

The market's other big concern is upcoming earnings reports. Investors want to know if companies are also seeing business slow, and if they're changing their forecasts for the coming quarters.

Ablin said the forecast from State Street bolstered confidence ahead of earnings for the April-June period. However, Ablin said he didn't expect the bounce to continue because investors are anxious about the hundreds of company reports still to come.

"I don't think any investor wants to commit one way or another with the whole string of earnings announcements" ahead, Ablin said.

The Dow rose 274.66, or 2.8 percent, to 10,018.28. The Dow rose 57 points Tuesday. The index hasn't risen two straight days since June 17-18.

The Standard & Poor's 500 index rose 32.21, or 3.1 percent, to 1,060.27, and the Nasdaq composite index rose 65.59, or 3.1 percent, 2,159.47.

Bond prices fell, driving up interest rates. The yield on the 10-year Treasury note rose to 2.99 percent from 2.94 percent late Tuesday. The yield fell below 3 percent last week for the first time since April 2009. The 10-year yield is used as a benchmark for interest rates on consumer loans and mortgages.

The dollar fell against other major currencies, including the euro.

Crude oil rose $2.09 to $74.07 per barrel on the New York Mercantile Exchange. Gold rose.

State Street rose $3.29, or 9.9 percent, to $36.63. Alcoa advanced 34 cents, or 3.3 percent, to $10.55, while U.S. Steel rose $2.17, or 5.7 percent, to $40.39.

About six stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 5.1 billion shares, compared with 4.7 billion Tuesday.

The Russell 2000 index of smaller companies rose 21.63, or 3.7 percent, to 611.66.

Overseas markets closed higher after sliding in early trading. Investors awaited a Thursday meeting of the European Central Bank. Traders are expecting the bank to keep interest rates unchanged, but will want to get details on the European Union's "stress tests" of bank balance sheets. The notion that the examination could be more rigorous than first thought helped U.S. stocks and drove the euro higher. Similar tests of U.S. banks in May last year helped bolster confidence in the financial system by reassuring investors that big banks likely would survive a deeper slide in the economy.

Britain's FTSE 100 rose 1 percent, Germany's DAX index rose 0.9 percent, and France's CAC-40 climbed 1.8 percent. Japan's Nikkei stock average fell 0.6 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks climb for 3rd day after jobless claims fall

Investors are getting enthusiastic about stocks again after some reassuring news from the job market.

Stocks rose for a third straight day Thursday on the Labor Department's report of a larger than expected drop in the number of newly laid-off people seeking unemployment benefits. The Dow Jones industrial average rose 121 points after climbing 275 Wednesday and advancing modestly Tuesday. The 4.7 percent gain in that time is the Dow's best three-day move since mid-May.

Employment news has been the key driver behind the market's moves during the past few weeks. Thursday's news was a welcome change from a string of disappointing jobs reports, including the government's June employment numbers, that have pounded stocks recently.

*The NYSE DOW closed HIGHER +120.71 points +1.20%  on Thuresday July 8*
Sym. Last......... ........Change..........
Dow 10,138.99 +120.71 +1.20% 
Nasdaq 2,175.40 +15.93 +0.74% 
S&P 500 1,070.25 +9.98 +0.94% 
30-yr Bond 4.0010% +0.4700 

NYSE Volume 5,230,040,000  (prior day 5,869,736,500)
Nasdaq Volume 2,072,043,250  (prior day 2,190,606,000)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,105.45 +90.63 +1.81% 
DAX 6,035.66 +42.80 +0.71% 
CAC 40 3,538.25 +54.81 +1.57% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,535.74 +256.09 +2.76% 
Hang Seng 20,050.56 +193.49 +0.97% 
Straits Times 2,897.15 +36.12 +1.26% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks climb for 3rd day after jobless claims fall

Stocks rise after better-than-expected report on unemployment claims eases economic worries *

Tim Paradis, AP Business Writer, On Thursday July 8, 2010, 5:16 pm 

NEW YORK (AP) -- Investors are getting enthusiastic about stocks again after some reassuring news from the job market.

Stocks rose for a third straight day Thursday on the Labor Department's report of a larger than expected drop in the number of newly laid-off people seeking unemployment benefits. The Dow Jones industrial average rose 121 points after climbing 275 Wednesday and advancing modestly Tuesday. The 4.7 percent gain in that time is the Dow's best three-day move since mid-May.

Employment news has been the key driver behind the market's moves during the past few weeks. Thursday's news was a welcome change from a string of disappointing jobs reports, including the government's June employment numbers, that have pounded stocks recently.

The Labor Department said initial claims for jobless benefits fell last week to their lowest levels since early May. Claims fell to 454,000, better than the 465,000 forecast by economists polled by Thomson Reuters.

High unemployment has dragged down consumer confidence, which in turn has slowed spending. And because consumers account for about 70 percent of U.S. economic activity, the recovery is unlikely to gain much momentum unless consumers are working and feeling more secure about spending.

Major retailers had mixed news Thursday about consumer spending. Several big retailers including those that cater to teenagers reported lackluster June sales. Others including department store operators Macy's Inc. and JCPenney Co., saw a pickup in business. Overall, merchants said shoppers again spent cautiously, and analysts said stores were discounting heavily in order to bring customers in.

Hank Smith, chief investment officer of equity at Haverford Investments in Radnor, Pa., said some investors have been worried about a so-called "double-dip" in the economy but that more recent data, including Thursday's jobs report, are a reminder that the recovery is continuing.

"It's hard to see rolling into a double dip," he said.

Stocks got some support from a global economic forecast from the International Monetary Fund. The IMF raised its world growth estimate for the year to 4.6 percent from 4.2 percent. The stock market's losses since the major indexes reached 2010 highs in late April have been largely due to fears that debt problems in European countries might hurt the recovery around the world.

The market's advance accelerated in the final hour. Many investors, seeing stocks hold their gains, wanted to be sure they didn't miss out on the rally, so they began buying before the closing bell.

The Dow rose 120.71, or 1.2 percent, to 10,138.99. The Standard & Poor's 500 index rose 9.98, or 0.9 percent, to 1,070.25, while the Nasdaq composite index rose 15.93, or 0.7 percent, to 2,175.40.

The Dow jumped back above 10,000 Wednesday. Traders say the recent gains, which came after seven straight days of declines, were not tied to any one particular catalyst. Instead some investors went back into the market thinking prices had been beaten down too much in the past couple of weeks. But trading volume has been light this week. That's a sign that few investors are driving the advance. And that means the gains could quickly unravel if more disappointing economic news arrives.

Interest rates were mixed in the Treasury market as investors sold bonds following the jobs report. Rates usually rise when there are signs the economy is improving because a stronger economy eventually leads to inflation.

The yield on the 10-year Treasury note, which moves opposite its price, rose to 3.03 percent from 2.99 percent late Wednesday. The yield fell below 3 percent last week for the first time since April 2009 as investors worried about the economy rushed into Treasurys. The yield on 10-year Treasurys helps determine the interest rate on some mortgages and other consumer loans.

The higher forecast from the IMF helped boost overseas markets and the euro. The 16-nation currency climbed to $1.2698, its highest level since May.

Among retailers, teen retailer American Eagle Outfitters Inc. fell 46 cents, or 3.8 percent, to $11.80 after reporting disappointing June sales. Abercrombie & Fitch rose $2.55, or 7.8 percent, to $35.45 after its sales at stores open at least a year rose 9 percent. Gap Inc. said sales at stores open at least one year were unchanged in June, less than analysts expected. The stock fell $1.50, or 7.6 percent, to $18.22.

Macy's rose 53 cents, or almost 3 percent, to $18.44. Penney was up $1.46, or 6.7 percent, at $23.24.

Four stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.2 billion shares, compared with 1.3 billion Wednesday.

The Russell 2000 index of smaller companies rose 8.61, or 1.4 percent, to 620.27.

Britain's FTSE 100 rose 1.8 percent, Germany's DAX index rose 0.7 percent, and France's CAC-40 gained 1.6 percent. Japan's Nikkei stock average jumped 2.8 percent.


----------



## bigdog

Source: http://finance.yahoo.com

For the week, the Dow rose 512 points, or 5.3 percent, its best gain since the week ended July 17, 2009. After a holiday on Monday, stocks rose modestly Tuesday and jumped Wednesday after traders looked for stocks that were bargains after two weeks of selling. The Dow rose 275 points to move back above 10,000. The Dow added another 120 points on Thursday after the unemployment report.

The Standard & Poor's 500 index rose 5.4 percent for the week, while the Nasdaq gained 5 percent.

The stock market ended its best week in a year with another gain Friday as investors bet that companies will report strong second-quarter earnings.

The Dow Jones industrial average rose 59 points, or 0.6 percent. That gave the Dow its biggest weekly advance in a year, 5.3 percent. Broader indexes posted bigger gains. Trading volume was light, signaling that many investors were staying out of the market. But those who were trading appeared optimistic about the company reports that will be announced starting next week.

Stocks also got a lift from news that China renewed Google's license to operate in the country. The renewal was in doubt because of a strained relationship between the company and China's government over censorship of search results. Google rose 2.4 percent.

*The NYSE DOW closed HIGHER +59.04 points +0.58% on Friday July 9*
Sym. Last......... ........Change..........
Dow 10,198.03 +59.04 +0.58% 
Nasdaq 2,196.45 +21.05 +0.97% 
S&P 500 1,077.96 +7.71 +0.72% 
30-yr Bond 4.0400% +0.3900 

NYSE Volume 4,021,670,250  (prior day 5,230,040,000)
Nasdaq Volume 1,611,284,750  (prior day 2,072,043,250)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,132.94 +27.49 +0.54% 
DAX 6,065.24 +29.58 +0.49% 
CAC 40 3,554.48 +16.23 +0.46% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,585.32 +49.58 +0.52% 
Hang Seng 20,378.66 +328.10 +1.64% 
Straits Times 2,917.17 +20.02 +0.69% 

http://finance.yahoo.com/news/Dow-e...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Dow ends week up 5.3 pct, its best gain in a year

Stocks have their best week in a year; Dow Jones industrial average gains 5.3 percent *

Tim Paradis, AP Business Writer, On Friday July 9, 2010, 6:14 pm 

NEW YORK (AP) -- The stock market ended its best week in a year with another gain Friday as investors bet that companies will report strong second-quarter earnings.

The Dow Jones industrial average rose 59 points, or 0.6 percent. That gave the Dow its biggest weekly advance in a year, 5.3 percent. Broader indexes posted bigger gains. Trading volume was light, signaling that many investors were staying out of the market. But those who were trading appeared optimistic about the company reports that will be announced starting next week.

Stocks also got a lift from news that China renewed Google's license to operate in the country. The renewal was in doubt because of a strained relationship between the company and China's government over censorship of search results. Google rose 2.4 percent.

News on the economy wasn't as upbeat. Inventories held by wholesalers rose in May for a fifth straight month though sales dropped for the first time in more than a year. The government said wholesale inventories rose 0.5 percent and sales dropped 0.3 percent. It was the first drop since March 2009, when major stock indexes hit a 12-year low.

But investors didn't appear fazed by the inventories report. Instead, the market appeared to hold on to optimism fed by Thursday's report of a drop in the number of newly laid off people seeking unemployment benefits. That report ended a string of bad news about the job market, and likely contributed to investors' more positive mood going into what's known as earning season.

Friday's modest moves weren't surprising. Traders often avoid making big bets just before earnings releases because the reports provide a good picture of how companies are performing. Investors will look closely at forecasts for future quarters because economic reports in the past two months have raised questions about the pace of the rebound.

"It's time to determine if this is just a soft patch in the recovery or if it's the beginning of a second leg down. That's what the market is struggling with," said Dan Deming, a trader with Stutland Equities in Chicago.

Investors will want to know whether companies are feeling the effects of slower growth and whether they believe the recovery will gain momentum in the coming months. Stocks fell over the past couple of months because data showed the economy was growing, but not as fast as had been forecast.

Earnings season starts with aluminum producer Alcoa Inc. on Monday. The company's stock rose 1.9 percent ahead of its report. Other companies scheduled to release results next week include banking giants JPMorgan Chase & Co. and Bank of America Corp. General Electric Co. and chipmaker Intel Corp. are also scheduled to report earnings next week.

Overseas markets rose after a surprise interest rate hike in South Korea was seen as a sign of confidence that the global economy will continue expand. Central banks around the world, including the U.S., have kept rates at historically low rates to stimulate growth.

The Dow rose 59.04, or 0.6 percent, to 10,198.03. The Standard & Poor's 500 index rose 7.71, or 0.7 percent, to 1,077.96, while the technology-focused Nasdaq composite index rose 21.05, or 1 percent, to 2,196.45.

For the week, the Dow rose 512 points, or 5.3 percent, its best gain since the week ended July 17, 2009. After a holiday on Monday, stocks rose modestly Tuesday and jumped Wednesday after traders looked for stocks that were bargains after two weeks of selling. The Dow rose 275 points to move back above 10,000. The Dow added another 120 points on Thursday after the unemployment report.

The Standard & Poor's 500 index rose 5.4 percent for the week, while the Nasdaq gained 5 percent.

Not all traders are confident that the gains will hold because there are still major problems like unemployment facing the economy.

"I think it's a short-term pop," said Joe Saluzzi, co-head of equity trading at Themis Trading LLC, of the week's advance. "A lot of people are playing it close to the vest at this point. You don't really know which way it's going to go."

Bond prices fell as stocks rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.06 percent from 3.04 percent late Thursday.

Crude oil rose 65 cents to $76.09 per barrel on the New York Mercantile Exchange.

Google rose $10.93 to $467.59. Alcoa rose 22 cents, or 2.1 percent, to $10.94, while JPMorgan climbed 69 cents, or 1.8 percent, to $38.85. Bank of America advanced 25 cents, or 1.7 percent, to $15.11, while GE rose 12 cents, or 0.8 percent, to $14.95. Intel advanced 14 cents, or 0.7 percent, to $20.24.

About four stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 3.6 billion shares compared with 4.6 billion Thursday.

The Russell 2000 index of smaller companies rose 9.16, or 1.5 percent, to 629.43.

Britain's FTSE 100, Germany's DAX index, France's CAC-40 and Japan's Nikkei stock average each rose 0.5 percent.

6238


----------



## bigdog

Source: http://finance.yahoo.com

Stocks close mixed as investors await start of 2nd-quarter earnings; Alcoa has upbeat report 

Stocks closed mixed Monday as investors grew more cautious while they waited for the start of second-quarter earnings reports. They got some good news after trading ended, when Alcoa Inc. reported better than expected results.

The Dow Jones industrial average rose 18 points and the other big indexes also had slight gains. But almost two stocks fell for every one that rose on the New York Stock Exchange, a sign that investors were wary about earnings.

Alcoa didn't disappoint them. The aluminum maker beat analysts' expectations, and it also said it was raising its forecast for consumption of the metal this year. That was particularly heartening for investors who have worried that the global economy was slowing, or even headed for another recession. The company's stock rose nearly 3 percent in after-hours trading.

*The NYSE DOW closed HIGHER  +18.24 points +0.18% on Monday July 12*
Sym. Last......... ........Change..........
Dow 10,216.27 +18.24 +0.18% 
Nasdaq 2,198.36 +1.91 +0.09% 
S&P 500 1,078.75 +0.79 +0.07% 
30-yr Bond 4.04% 0.00 

NYSE Volume 3,964,091,000 (prior day  4,021,670,250)
Nasdaq Volume 1,781,265,750  (prior day 1,611,284,750)

Oil 74.78 -1.31 -1.72% 
Gold 1,198.50 -11.10 -0.92% 

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,167.02 +61.57 +1.21% 
DAX 6,077.19 +11.95 +0.20% 
CAC 40 3,567.66 +13.18 +0.37% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,548.11 -37.21 -0.39% 
Hang Seng 20,467.43 +88.77 +0.44% 
Straits Times 2,925.32 +8.15 +0.28% 

http://finance.yahoo.com/news/Stocks-in-narrow-range-ahead-apf-1799604164.html?x=0

*Stocks in narrow range ahead of earnings season

Stocks close mixed as investors await start of 2nd-quarter earnings; Alcoa has upbeat report *

Stephen Bernard, AP Business Writer, On Monday July 12, 2010, 5:45 pm 

NEW YORK (AP) -- Stocks closed mixed Monday as investors grew more cautious while they waited for the start of second-quarter earnings reports. They got some good news after trading ended, when Alcoa Inc. reported better than expected results.

The Dow Jones industrial average rose 18 points and the other big indexes also had slight gains. But almost two stocks fell for every one that rose on the New York Stock Exchange, a sign that investors were wary about earnings.

Alcoa didn't disappoint them. The aluminum maker beat analysts' expectations, and it also said it was raising its forecast for consumption of the metal this year. That was particularly heartening for investors who have worried that the global economy was slowing, or even headed for another recession. The company's stock rose nearly 3 percent in after-hours trading.

Investors made few big moves as they waited for Alcoa's earnings. So they showed little reaction to news of several corporate acquisitions.

Insurance broker Aon Corp. said it will buy human resources company Hewitt Associates for $4.9 billion in cash and stock, and Playboy Enterprises Inc. founder Hugh Hefner offered to take the media company private. Also Avon Products Inc. agreed to buy Silpada Designs for $650 million in a bid to expand its jewelry business.

Investors generally see acquisitions as a sign that companies are confident and willing to spend cash to expand.

Earnings are likely to dominate trading for the next few weeks. Investors are seeking insight into the state of the economy not only from how well companies fared during the April-June period, but also from their forecasts for the coming quarters. In particular, investors want to see whether sluggish retail sales, waning consumer confidence and high unemployment have actually hurt corporate profits.

Greg Estes, fund manager at Intrepid Capital Funds in Jacksonville Beach, Fla., said of companies' forecasts, "people are really wanting to see things get better." He said some industries like technology were more likely to report improvement versus those that rely more on consumer spending.

Tech stocks rose after analysts upgraded their ratings of Qualcomm Inc. and SanDisk Corp. The analysts forecast continuing growth in the smart phone market.

The Dow Jones industrial average rose 18.24, or 0.2 percent, to 10,216.27. The Standard & Poor's 500 index rose 0.79, or 0.1 percent, to 1,078.75, while the Nasdaq composite index rose 1.91, or 0.1 percent, to 2,198.36.

Consolidated volume on the NYSE, which includes shares traded on other exchanges, came to a light 3.47 billion shares as many investors chose to sit out the day while they waited for Alcoa's report. On Friday, consolidated volume totaled 3.56 billion shares.

Investors' caution followed the market's biggest weekly gains in a year. Some analysts have questioned how long the rebound would last. But if earnings and companies' forecasts are upbeat and indicate that the economic recovery is proceeding despite continuing high unemployment and weak consumer spending, investors are likely to keep buying. The Dow is still down 9 percent from its 2010 high reached in late April.

Economic news this week should shed some light about how well the recovery is going. In addition to earnings reports, readings are also due on retail sales, weekly jobless claims, manufacturing activity, consumer sentiment and inflation.

Alcoa rose to $11.23 in after-hours trading after falling 7 cents to $10.87 in regular trading.

Other materials stocks fell in regular trading. A drop in commodities imports in China, particularly copper, hurt shares of companies like Freeport McMoran Copper & Gold Inc. Its shares fell $2.76, or 4.2 percent, to $63.22.

Hewitt shares jumped $11.39, or 32.2 percent, to $46.79. Aon shares fell $2.72, or 7.1 percent, to $35.62. Playboy jumped $1.52, or 37.4 percent, to $5.58. Avon rose 15 cents to $28.42.

Qualcomm rose $1.19, or 3.5 percent, to $35.10. SanDisk rose $2.91, or 6.8 percent, to $45.81.

Bond prices traded in a tight range. The yield on the benchmark 10-year Treasury note was unchanged from late Friday at 3.06 percent.

The Russell 2000 index of smaller companies fell 7.82, or 1.2 percent, to 621.61.

Overseas, Britain's FTSE 100 rose 1.2 percent, Germany's DAX index gained 0.2 percent, and France's CAC-40 rose 0.4 percent. Japan's Nikkei stock average dipped 0.4 percent after the ruling party lost elections Sunday.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks extend gains into 6th straight day after Alcoa, CSX report upbeat profit, outlook 

The stock market got a shot of confidence and adrenaline from the start of second-quarter earnings season.

Investors were enthusiastic Tuesday about better-than-expected profits from aluminum maker Alcoa Inc. and railroad operator CSX Corp. The Dow Jones industrial average rose more than 145 points and the major indexes were up well over 1 percent.

There was more good news from Intel Corp. after the close of trading. The chip maker reported earnings and revenue that beat analysts' expectations, and it also raised its forecast for the year. Its stock shot up more than 5 percent in after-hours trading.


*The NYSE DOW closed HIGHER +146.75 points +1.44% on Tuesday July 13*
Sym. Last......... ........Change..........
Dow 10,363.02 +146.75 +1.44% 
Nasdaq 2,242.03 +43.67 +1.99% 
S&P 500 1,095.34 +16.59 +1.54% 
30-yr Bond 4.10% +0.61 

NYSE Volume 5,369,470,000  (prior day 3,964,091,000)
Nasdaq Volume 2,347,598,750  (prior day 1,781,265,750)

Oil 77.25 +0.10 +0.13% 
Gold 1,213.30 +14.80 +1.23% 

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,271.02 +104.00 +2.01% 
DAX 6,191.13 +113.94 +1.87% 
CAC 40 3,637.76 +70.10 +1.96% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,537.23 -10.88 -0.11% 
Hang Seng 20,431.06 -36.37 -0.18% 
Straits Times 2,928.70 +3.38 +0.12% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=7&asset=&ccode=

*Stocks surge after Alcoa, CSX report strong profit

Stocks extend gains into 6th straight day after Alcoa, CSX report upbeat profit, outlook *

Stephen Bernard, AP Business Writer, On Tuesday July 13, 2010, 4:53 pm EDT 

NEW YORK (AP) -- The stock market got a shot of confidence and adrenaline from the start of second-quarter earnings season.

Investors were enthusiastic Tuesday about better-than-expected profits from aluminum maker Alcoa Inc. and railroad operator CSX Corp. The Dow Jones industrial average rose more than 145 points and the major indexes were up well over 1 percent.

There was more good news from Intel Corp. after the close of trading. The chip maker reported earnings and revenue that beat analysts' expectations, and it also raised its forecast for the year. Its stock shot up more than 5 percent in after-hours trading.

The companies, among the first to report second-quarter earnings, also issued upbeat forecasts for the rest of the year. That was heartening news for investors who have been concerned that the recovery was stalling, or that the economy might even fall back into recession.

"When we go back to earnings and fundamentals, companies are delivering," said Tom Karsten, senior managing partner at Karsten Financial in Fort Worth, Texas.

Alcoa's earnings reports are closely watched because its varied customer base provides a snapshot of a broad range of other industries. It is also a component of the Dow Jones industrial average. CSX also provides insight into economic activity because it ships a wide range of products.

Alcoa said global consumption of aluminum will grow this year by more than it had forecast just three months ago. There have been concerns that the global economic recovery will end as many European nations face mounting government debt problems and high unemployment slows growth in the U.S.

CSX, meanwhile, said it sees its the economy's upward momentum continuing this year.

Intel's results are considered a good gauge of the health of the economy since its sales are driven by consumers and businesses buying computers.

Frank Ingarra, co-portfolio manager of Hennessy Funds in Stamford, Conn., said Alcoa and CSX's results lifted the market because they hit on the two themes that traders are looking for in earnings: revenue growth and optimistic outlooks.

"That's why the earnings were so good," Ingarra said. "You saw that top-line growth and good guidance."

During the recession, companies that made money often did so by cutting costs rather than bringing in sales. So sales growth is a sign that business is indeed picking up.

The Commerce Department reported Tuesday that the U.S. trade deficit increased to its widest level in 18 months as an increase in exports was outpaced by rising imports. A jump in both imports and exports is a sign that the economy is growing.

Earnings will likely continue to dictate trading over the next few weeks as hundreds of companies release results.

According to preliminary calculations, the Dow rose 146.75, or 1.4 percent, to 10,363.02. The Standard & Poor's 500 index rose 16.59, or 1.5 percent, to 1,095.34, while the Nasdaq composite index rose 43.67, or 2 percent, to 2,242.03.


----------



## bigdog

Source: http://finance.yahoo.com

The DOW was very lucky to be HIGHER for the day; check the chart below!!

Stocks are mixed after Fed's weaker economic outlook chills investors' optimism over earnings 

A weaker economic forecast from the Federal Reserve chilled the stock market's winning streak.

Stocks closed mixed Wednesday, with the Dow Jones industrial average rising almost 4 points for its seventh straight advance. The other major market indexes also had single-digit moves. Bond prices rose as investors, again uneasy about the strength of the economic recovery, went in search of safe investments.

The Fed's economic forecast was only slightly more downbeat than the outlook issued in April. And investors have been well aware that the country faces a bumpy recovery. But the Fed's assessment was still a sharp reminder that economic growth won't come easily.

*The NYSE DOW closed HIGHER +3.70 points +0.04% on Wednesday July 14*
Sym. Last......... ........Change..........
Dow 10,366.72 +3.70 +0.04% 
Nasdaq 2,249.84 +7.81 +0.35% 
S&P 500 1,095.17 -0.17 -0.02% 
30-yr Bond 4.0330% -0.6800 

NYSE Volume 4,669,407,000  (prior day 5,369,470,000)
Nasdaq Volume 2,170,388,250  (prior day 2,347,598,750)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,253.52 -17.50 -0.33% 
DAX 6,209.76 +18.63 +0.30% 
CAC 40 3,632.98 -4.78 -0.13% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,795.24 +258.01 +2.71% 
Hang Seng 20,560.81 +129.75 +0.64% 
Straits Times 2,952.81 +24.11 +0.82% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks are mixed after weaker Fed economic outlook

Stocks are mixed after Fed's weaker economic outlook chills investors' optimism over earnings *

Dave Carpenter and Joel Schectman, AP Business Writers, On Wednesday July 14, 2010, 5:14 pm 
NEW YORK (AP) -- A weaker economic forecast from the Federal Reserve chilled the stock market's winning streak.

Stocks closed mixed Wednesday, with the Dow Jones industrial average rising almost 4 points for its seventh straight advance. The other major market indexes also had single-digit moves. Bond prices rose as investors, again uneasy about the strength of the economic recovery, went in search of safe investments.

The Fed's economic forecast was only slightly more downbeat than the outlook issued in April. And investors have been well aware that the country faces a bumpy recovery. But the Fed's assessment was still a sharp reminder that economic growth won't come easily.

Investors initially sold on the Fed's statement. A strong start to second-quarter earnings reports, including upbeat forecasts from Intel Corp. and Alcoa Inc., helped temper their disappointment.

The Fed lowered its projection for the gross domestic product, the broadest measure of the economy, and said GDP will grow between 3 percent and 3.5 percent this year. That's down from the 3.2 percent to 3.7 percent forecast in April.

The central bank also said the unemployment rate, now at 9.5 percent, will at best fall to 9.2 percent. In its April forecast, the Fed had a slightly lower bottom number of 9.1 percent.

The Fed also released minutes from its June 22-23 meeting, at which it found that "economic developments abroad" could hurt the U.S. economy. That's a reference to the debt crisis that began in Greece and threatened to spread to other European countries.

While the Fed's statement contained no real surprises, investors are particularly cautious after the advances of the past week and because so much of corporate earnings reports are still ahead, said Rob Lutts, president and chief investment officer of Cabot Money Management in Salem, Mass.

"It's been a very strong last three or four days. And at this point, valuations are a little higher and a little more of a challenge," he said.

And after the beating stocks took this spring, he said, investors remain more cautious than in any down investment cycle in memory. That caution is reflected in how they are continuing to move money into bonds.

"We need time to heal, more than anything else," Lutts said.

Analysts said investors were initially unnerved by the Fed's long-term outlook.

"The Fed is talking about 5 to 7 years time before the economy gets back to the old modus operani," said Joseph V. Battipaglia, market strategiest for the Private Client Group at Stifel Nicolaus & Co. "This is the government admitting that the coast is not clear because the outlook is a slower environment and unemployment stays doggedly high."

The Dow rose 3.70, or 0.04 percent, to 10,366.72. The Standard & Poor's 500 index fell 0.17, or 0.02 percent, to 1,095.17, while the Nasdaq composite index rose 7.81, or 0.4 percent, to 2,249.84.

Losing stocks were ahead of gainers by 4 to 3 on the New York Stock Exchange. Volume came to 1.06 billion shares.

Bond prices rose, pushing interest rates lower in the Treasury market. Investors were following their pattern of turning to government debt as a safe place to put their cash when the economy looks troubled.

The yield on the benchmark 10-year Treasury note fell to 3.05 percent from 3.13 percent late Tuesday. That yield helps set interest rates on mortgages and other consumer loans.

Earlier Wednesday, there was disappointing economic news from the Commerce Department, which said June retail sales fell 0.5 percent. That's worse than the 0.2 percent decline forecast by economists polled by Thomson Reuters. However, excluding autos, sales were down 0.1 percent, in line with expectations.

Shares of retailers including J.C. Penney Co., Macy's Inc. and Target Corp., all fell after the monthly sales report.

Late Tuesday, Intel reported its biggest quarterly profit in a decade as large corporations started buying new computers. Companies have been reluctant to upgrade technology during the recession, so a return of spending could be a sign corporations are ready to start expanding their businesses again and hire new workers.

Intel's profit and outlook, which surpassed analysts' forecasts, are considered good signs for the economy because the chipmaker manufactures 80 percent of the processors that run PCs and has a large global reach.

Although the market's rally stalled Wednesday, the Dow is up 7 percent over seven days, its best stretch since last July. The Dow rose 147 points Tuesday after aluminum producer Alcoa and railroad company CSX both reported better-than-expected profit. The pair also provided optimistic outlooks for the rest of the year.

Stocks were in a slump in May and June as economic reports showed the recovery wasn't proceeding as fast as hoped. It wasn't clear Wednesday afternoon whether stocks would resume their slide, or go up on the next strong earnings report.

"You have a classic tug of war -- profits for the second quarter are quite good," Battipaglia said. "On the other hand, you have a growing list of data points that the show stimulus is not leading to a private sector recovery."

Intel rose 35 cents, or 1.7 percent, to $21.36. J.C. Penney fell 20 cents to $22.99, while Macy's dropped 9 cents to $18.38. Target fell 24 cents to $49.65.

The Russell 2000 index of smaller companies fell 2.66, or 0.4 percent, to 640.16.

Overseas, Britain's FTSE 100 fell 0.33 percent, Germany's DAX index rose 0.3 percent, and France's CAC-40 fell 0.1 percent. Japan's Nikkei stock average jumped 2.7 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks turn around late in the session, close mixed ahead of Goldman settlement announcement 

Investors gave the stock market a big last-hour turnaround on just the anticipation of Goldman Sachs settling the government's civil fraud charges.

As word spread that the Securities and Exchange Commission had scheduled a late-afternoon announcement, investors began buying on the belief that the government and Goldman Sachs Group Inc. had settled the charges that grew out of the sale of securities based on risky mortgages.

The $550 million settlement was announced less than an hour after trading ended. Goldman agreed to pay fines of $300 million, the largest fine against a financial company in SEC history, and $250 million to compensate investors who lost money on the securities. The deal also requires Goldman to review how it sells complex financial mortgage investments.

*The NYSE DOW closed LOWER -7.41  points -0.07% on Thursday July 15*
Sym. Last......... ........Change..........
Dow 10,359.31 -7.41 -0.07% 
Nasdaq 2,249.08 -0.76 -0.03% 
S&P 500 1,096.48 +1.31 +0.12% 
30-yr Bond 3.9680% -0.6500 

NYSE Volume 5,278,046,000 (prior day 4,669,407,000)
[Nasdaq Volume 1,989,145,500  (prior day 2,170,388,250)

B]Europe[/B]
Symbol.... Last...... .....Change....... 
FTSE 100 5,211.29 -42.23 -0.80% 
DAX 6,149.36 -60.40 -0.97% 
CAC 40 3,581.82 -51.16 -1.41%

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,685.53 -109.71 -1.12% 
Hang Seng 20,255.62 -305.19 -1.48% 
Straits Times 2,946.32 -6.49 -0.22%

http://finance.yahoo.com/news/Late-...6.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Late stock rally ahead of Goldman settlement news

Stocks turn around late in the session, close mixed ahead of Goldman settlement announcement *

Stephen Bernard, AP Business Writer, On Thursday July 15, 2010, 6:06 pm 

NEW YORK (AP) -- Investors gave the stock market a big last-hour turnaround on just the anticipation of Goldman Sachs settling the government's civil fraud charges.

As word spread that the Securities and Exchange Commission had scheduled a late-afternoon announcement, investors began buying on the belief that the government and Goldman Sachs Group Inc. had settled the charges that grew out of the sale of securities based on risky mortgages.

The $550 million settlement was announced less than an hour after trading ended. Goldman agreed to pay fines of $300 million, the largest fine against a financial company in SEC history, and $250 million to compensate investors who lost money on the securities. The deal also requires Goldman to review how it sells complex financial mortgage investments.

The settlement lifts uncertainty that has hovered around Goldman since the charges were announced April 16. Expectations of a deal were enough to make traders temporarily set aside concerns about the economy. A series of disappointing economic reports had sent the Dow Jones industrial average down nearly 100 points in late trading. The Dow scrambled back to a loss of just 7 by the close. Broader indexes were narrowly mixed.

Goldman was trading at about $140 a share when word of the pending announcement came. The stock then soared to close at $145.22, up $6.16, and shot up to $153.45 in after-hours trading.

The company's stock has been pounded by the SEC case. It closed at $183.81 on April 15, the day before the charges, and plunged 12.6 percent the day they were announced. By the time it reached its closing low of $131.08 on July 2, the stock had fallen nearly 29 percent.

Investors viewed Goldman's settlement as a buying opportunity for a stock that has been hammered since the SEC filed charges.

"The SEC case is now behind Goldman as far as investors are concerned," said independent market analyst Edward Yardeni said, adding that the manageable size of the settlement added to the demand for the company's shares.

"This fine is a bargain for Goldman," Yardeni said.

Goldman's problems have been a pall on other financial companies and in turn, the overall market. So stocks overall benefited Thursday from news of a deal.

A little more uncertainty was lifted from the market late in the day, when the Senate passed and sent to President Barack Obama the financial regulation bill. However, because regulations that will implement the bill's provisions have yet to be written, traders were still wary. Analysts said that likely contributed to the market's dip right before word of an SEC announcement.

Bill Strazzullo, partner and chief market strategist for Bell Curve Trading in Boston, noted that JPMorgan Chase & Co. CEO Jamie Dimon earlier in the day said it wasn't possible to estimate the impact of the bill on his company's profits.

"Maybe the reality of it is finally upon us," Strazzullo said.

The Dow fell 7.41, or 0.07 percent, to 10,359.31. The Standard & Poor's 500 index rose 1.31, or 0.1 percent, to 1,096.48, while the Nasdaq composite index fell 0.76, or 0.03 percent, to 2,249.08.

Losing stocks were slightly ahead of gainers on the New York Stock Exchange, where consolidated volume came to 4.6 billion shares, up from 4.1 billion Wednesday.

Bond prices rose as investors worried about the economy sought safety the safety of government securities. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3 percent from 3.05 percent late Wednesday.

For much of the day, the market was down on pessimism about weak economic reports -- a problem that will continue to dog the market. A day after the Federal Reserve issued a slightly more bleak outlook on the economy, steep drops reported in the Empire State and Philadelphia Fed Manufacturing indexes pointed to a slowing in manufacturing activity in the Northeast. Meanwhile, the Fed reported modest growth in industrial output nationwide. And the Labor Department said first-time claims for unemployment benefits fell last week, but that was largely due to seasonal factors.

"We've hit a soft spot," Howard Ward, chief investment officer at GAMCO Growth Fund, said of the economic recovery. "The question is, are we starting to already improve or are we still falling down."

The disappointing manufacturing reports, which followed a weeklong stock rally, made the market "susceptible to profit taking" after the market's week-long advance, Ward said.

There appeared to be a shift in investors' view of the economy. They had been upbeat over the past week on more positive economic signs, in particular forecasts from companies including Intel Corp. and Alcoa Inc. But the latest disappointing numbers now seem to be dictating investors' moves, and analysts questioned whether investors would start buying again if companies keep reporting strong earnings and outlooks.

JPMorgan Chase, the first big bank to report its second-quarter earnings, said it had set aside less money to cover losses on failed loans. That is a sign that mortgage and loan defaults may be moderating. But Dimon kept a cautious tone about future economic growth.

"Earnings are strong," said Sandy Mehta, principal and chief investment officer of Value Investment Principals. "But the underlying economy is not as strong."

JPMorgan Chase rose 11 cents to $40.46. Several other big banks fell. Bank of America Corp. dropped 28 cents to $15.39 and Citigroup Inc. fell 5 cents to $4.16. Both companies report earnings on Tuesday.

Caterpillar Inc. fell 19 cents to $66.51 on the downbeat manufacturing reports.

The euro climbed above $1.28 for the first time in more than two months Thursday as investors worried about the strength in the U.S.

Overseas, Britain's FTSE 100 fell 0.7 percent, Germany's DAX index fell 1 percent, and France's CAC-40 fell 1.4 percent. Japan's Nikkei stock average fell 1.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

For the week, the Dow is down 1 percent, the S&P 500 is down 1.2 percent, and the Nasdaq is down 0.8 percent.

Stocks slump, sending Dow down 261 as consumer confidence plunges, banks report lower revenues 

Investors are finding disappointment everywhere and taking out their frustration on stocks.

Stocks slumped Friday after banks' second-quarter earnings fell short of expectations and a new survey found that consumers are becoming more pessimistic. The Dow Jones industrial average lost 261 points, and all the major market indexes dropped more than 2.5 percent. Interest rates fell in the Treasury market as investors once again sought the safety of government securities.

The market fell at the opening after Citigroup Inc. and Bank of America Corp. released earnings. The two banks, like JPMorgan Chase & Co. a day earlier, reported higher earnings as losses from failed loans fell. But they are also seeing lower trading revenue because of the stock market's plunge this spring. The drop in revenue raised questions about how banks will be able to make big profits if trading is curtailed by new federal regulations.

*The NYSE DOW closed LOWER -261.41 points  -2.52%  on Friday July 16*
Sym. Last......... ........Change..........
Dow 10,097.90 -261.41 -2.52% 
Nasdaq 2,179.05 -70.03 -3.11% 
S&P 500 1,064.88 -31.60 -2.88% 
30-yr Bond 3.9490% -0.1900 

NYSE Volume 6,094,597,000  (prior day 5,278,046,000)
Nasdaq Volume 2,188,542,500 (prior day  1,989,145,500)

Oil 76.01 -0.61 -0.80% 
Gold 1,188.00 -20.10 -1.66% 

B]Europe[/b]
Symbol.... Last...... .....Change....... 
FTSE 100 5,158.85 -52.44 -1.01% 
DAX 6,040.27 -109.09 -1.77% 
CAC 40 3,500.16 -81.66 -2.28% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,408.36 -277.17 -2.86% 
Hang Seng 20,250.16 -5.46 -0.03% 
Straits Times 2,953.53 +9.98 +0.34% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks drop on weak consumer sentiment, bank earns

Stocks slump, sending Dow down 261 as consumer confidence plunges, banks report lower revenues *

Stephen Bernard and Seth Sutel, AP Business Writers, On Friday July 16, 2010, 5:35 pm EDT 

NEW YORK (AP) -- Investors are finding disappointment everywhere and taking out their frustration on stocks.

Stocks slumped Friday after banks' second-quarter earnings fell short of expectations and a new survey found that consumers are becoming more pessimistic. The Dow Jones industrial average lost 261 points, and all the major market indexes dropped more than 2.5 percent. Interest rates fell in the Treasury market as investors once again sought the safety of government securities.

The market fell at the opening after Citigroup Inc. and Bank of America Corp. released earnings. The two banks, like JPMorgan Chase & Co. a day earlier, reported higher earnings as losses from failed loans fell. But they are also seeing lower trading revenue because of the stock market's plunge this spring. The drop in revenue raised questions about how banks will be able to make big profits if trading is curtailed by new federal regulations.

Stocks fell further after a twice-monthly survey from the University of Michigan and Reuters found that consumers' gloom is increasing. An index of consumer sentiment compiled from the survey fell to 66.5 in early July from 76. That was a bigger drop than expected.

"It's mostly about the poor consumer confidence numbers," said Anthony Conroy, managing director and head trader for BNY ConvergEx Group. "The possibility of a double dip also starts to come to mind" for investors, he said, referring to a phrase that describes the economy falling back into recession.

The unexpectedly low reading on consumer confidence "spooks people and reinforces fears that the economy is slowing too much too fast," said Scott Marcouiller, chief technical market strategist at Wells Fargo Advisors. He noted that stocks had just enjoyed a seven-day winning streak, which makes them vulnerable to a big drop. And light volume, typical for a summer Friday, exacerbated the losses.

The market's retreat following a big gain fit with its pattern since late April, when the major indexes hit 2010 highs and then tumbled amid a variety of economic worries. But it wasn't just the economic data that set investors off Friday.

"You get a few bad earnings numbers and it's a lot of excuses to take profits if you got them," Marcouiller said.

Citigroup's shares were off 6.3 percent while Bank of America was off 9.2 percent. General Electric Co. fell 4.6 percent beating despite delivering stronger earnings and a healthy outlook. The company also reported a drop in revenue.

Stocks had struggled to a mixed finish Thursday after being down for much of the day on disappointing regional manufacturing reports for the Northeast. Much of the deficit was erased late in the day as news began to circulate that Goldman Sachs Group Inc. had settled civil fraud charges with the government over its dealings with subprime mortgage securities.

However, while investors were relieved that Goldman was putting the case behind it, they were again confronted Friday by larger ongoing worries: the economy and the future of the banking industry now that Congress has approved the banking industry overhaul bill.

The Dow fell 261.41, or 2.5 percent, to 10,097.90. The Standard & Poor's 500 index fell 31.60, or 2.9 percent, to 1,064.88. The Nasdaq composite index fell 70.03, or 3.1 percent, to 2,179.05.

For the week, the Dow is down 1 percent, the S&P 500 is down 1.2 percent, and the Nasdaq is down 0.8 percent.

About four stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.5 billion shares.

Bond prices rose in what's known as a flight to safety. That sent their yields lower. The yield on the benchmark 10-year Treasury note, which helps set interest rates on mortgages and other kinds of loans, fell to 2.93 percent from 3.00 percent late Thursday.

The formal announcement of Goldman's $550 million settlement came after the stock market closed on Thursday. Goldman was the only major financial company to show a gain Friday. It was up 95 cents, or 0.7 percent, at $146.17.

Bank of America's stock fell $1.41, or 9.2 percent, to $13.98. Citigroup was off 26 cents, or 6.3 percent, at $3.90. Both companies beat analysts' expectations. However, the drop in their revenue as a result of the stock market's slide had investors worried about how banks would make money in the future under new government regulations.

Google Inc. fell $34.41, or 7 percent, to $459.61 after its earnings fell short of analysts' expectations.

GE lost 70 cents or 4.6 percent to $14.55.

The Dow ended its seven-day winning streak on Thursday. It was down as much as 126 points early in the day, but closed down just 7 as word spread about the Goldman Sachs settlement.

A government report on consumer prices for June was mainly in line with analysts' expectations. The Consumer Price Index dipped 0.1 percent last month, largely due to lower energy bills.

The euro climbed above $1.29 as it recovers following a steep plunge earlier this year amid fears that government debt in many European nations would send the continent back into recession.

Overseas, Britain's FTSE 100 fell 0.9 percent, Germany's DAX index fell 1.8 percent, and France's CAC-40 fell 2.1 percent. Japan's Nikkei stock average tumbled 2.9 percent.

6670


----------



## bigdog

Source: http://finance.yahoo.com

Stocks rebound as investors focus on upcoming earnings, shrug off homebuilders report 

The stock market is fulfilling predictions of an uneasy trek through second-quarter earnings season.

Stocks ended a choppy day Monday with a moderate rebound that sent the Dow Jones industrial average up 56 points. Analysts said the advance was due in part to investors' regaining their optimism about earnings. But that change in sentment was fleeting: After the market closed, IBM reported revenue that fell short of expectations, and investors were back to selling in after-hours trading.

IBM Corp. did issue a more upbeat forecast for its 2010 earnings that in the past would have lifted stocks. But with investors increasingly on edge about signs of trouble in the economy, many decided not to share in IBM's more confident view of the future.

*The NYSE DOW closed HIGHER +56.53 points +0.56% on Monday July 19*
Sym. Last......... ........Change..........
Dow 10,154.43 +56.53 +0.56% 
Nasdaq 2,198.23 +19.18 +0.88% 
S&P 500 1,071.25 +6.37 +0.60% 
30-yr Bond 3.9880% +0.3900 

NYSE Volume 4,689,566,000  (prior day 6,094,597,000)
Nasdaq Volume 1,756,038,000  (prior day 2,188,542,500)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,148.28 -10.57 -0.20% 
DAX 6,009.11 -31.16 -0.52% 
CAC 40 3,486.33 -13.83 -0.40% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,408.36 -277.17 -2.86% 
Hang Seng 20,090.95 -159.21 -0.79% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks rebound as investors await earnings

Stocks rebound as investors focus on upcoming earnings, shrug off homebuilders report *

Stephen Bernard, AP Business Writer, On Monday July 19, 2010, 5:44 pm 

NEW YORK (AP) -- The stock market is fulfilling predictions of an uneasy trek through second-quarter earnings season.

Stocks ended a choppy day Monday with a moderate rebound that sent the Dow Jones industrial average up 56 points. Analysts said the advance was due in part to investors' regaining their optimism about earnings. But that change in sentment was fleeting: After the market closed, IBM reported revenue that fell short of expectations, and investors were back to selling in after-hours trading.

IBM Corp. did issue a more upbeat forecast for its 2010 earnings that in the past would have lifted stocks. But with investors increasingly on edge about signs of trouble in the economy, many decided not to share in IBM's more confident view of the future.

"The market is caught up by this fear factor over how much the economy has slowed and what does it mean in terms of future earnings growth," Peter Cardillo, chief market economist for Avalon Partners in New York, said before the market closed.

IBM stock fell sharply in after-hours trading. Investors also punished Texas Instruments Inc. after the chip maker matched but didn't surpass analysts' second-quarter revenue predictions.

Analysts have predicted that stock trading would be erratic throughout earnings season. Recent economic data has been disappointing, and investors are having a hard time trusting upbeat forecasts.

Stocks had fallen sharply Friday, taking the Dow down 261 points, after news of a drop in consumer confidence. That was a negative signal for the economy. Stocks also fell after big banks' earnings had investors doubting whether financial company profits would be curtailed in the future by new federal regulations.

Investors managed to weather some bad news early in the day Monday. The National Association of Home Builders said that its confidence index sank to 14, its lowest level since March 2009. A reading below 50 indicates homebuilders have a negative view of the housing market. The report was the latest in a series of disappointing housing numbers that began appearing after the government's homebuyer tax credit expired at the end of April.

Alan Gayle, senior investment strategist for RidgeWorth Investments, said Monday's market moves were in part a response to the announcement of better-than-expected orders for Boeing Co. at the Farnborough International Airshow in Britain. The aircraft maker announced orders at the Farnborough show, including a deal with Dubai-based airline Emirates worth $3.6 billion. Boeing also said GE Capital Aviation Services placed a $3 billion order.

Boeing's stock rose during regular trading, but it joined other stocks in falling in after-hours trading in response to IBM's revenue report.

The Dow rose 56.53, or 0.6 percent, to 10,154.43. The Standard & Poor's 500 index rose 6.37, or 0.6 percent, to 1,071.25, while the Nasdaq composite index, lifted by a rally in tech stocks, rose 19.18, or 0.9 percent, to 2,198.23.

Gainers outnumbered losers by 2 to 1 on the New York Stock Exchange. Volume was light, which can help exaggerate price moves. More than 954 million shares changed hands.

Hundreds of companies are still to report earnings in the next few weeks. On Tuesday, companies from a variety of industries are reporting their results, including Yahoo Inc., Apple Inc., Johnson & Johnson and PepsiCo. Inc. Goldman Sachs Group Inc., which last week settled civil fraud charges with the government, will also report its earnings.

Further readings on the housing market are due out later in the week. They too are expected to show the market is weak and that there are few signs that business will pick up anytime soon. Economists predict reports on housing starts, building permits and sales of previously occupied homes will show declines for June.

The building permits data is likely to be particularly discouraging because it is used as a gauge for future construction. Investors have become more concerned with forecasts for the future rather than past reports, so anything that indicates weakness in the coming months and quarters is being met with disappointment.

Housing stocks fell on the homebuilders' survey. D.R. Horton Inc. fell 13 cents to $9.97. Toll Bros. Inc. dropped 20 cents to $16.23, while Lennar Corp. fell 19 cents to $13.82.

IBM rose $1.76 to $129.79 in regular trading, lifted by investors' optimism. But it fell $5.29 in after-hours trading. Texas Instruments had gained 78 cents and closed at $25.55 in regular trading. It later fell $1.42.

Boeing rose $1.28 to $63.18 in regular trading, then retreated 57 cents after the market closed.

Investors were encouraged by Halliburton Co.'s earnings report and prospects for land-based business growth. The energy services company's stock jumped after it said a ban on offshore drilling would only cut earnings by 5 cents to 8 cents per share per quarter. Halliburton rose $1.66, or 6 percent, to $29.17.

At the same time, toy maker Hasbro Inc.'s earnings showed that shoppers are staying out of stores while unemployment remains high. Hasbro's earnings rose, but toy sales dropped adding to worries about the uncertain labor market and its effect on consumer spending. Hasbro fell 15 cents to $39.35.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.96 percent from 2.93 percent late Friday.

European markets all dipped. Moody's Investors Service cut its rating on Ireland's debt. Ratings agencies have regularly slashed ratings on many European countries' debt in recent months as mounting deficits dim the hopes for strong growth.

Britain's FTSE 100 fell 0.2 percent, while Germany's DAX dipped 0.5 percent and France's CAC-40 fell 0.4 percent.

Japan's Nikkei stock average fell 2.9 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks rise as investors sort through mixed earnings; Apple scores but Yahoo falls short 

Investors are trying to get a read on the economy using earnings reports. They're finding it's not so easy.

The result Tuesday was yet another erratic day of stock trading. The Dow Jones industrial average rose 75 points after having fallen 140 in early trading in response to a series of disappointing revenue reports. Analysts were hard-pressed to come up with a reason for the turnaround. But trading was extremely light, and that tends to skew stock prices.

Analysts said some investors were getting a little more upbeat as they awaited earnings reports from Yahoo Inc. and Apple Inc. after the close. But those reports came in mixed, just like those from the many companies that have also reported second-quarter results. Apple's stock surged in after-hours trading, but Yahoo fell. Like IBM Corp., Johnson & Johnson and Goldman Sachs Inc., its revenue fell short of expectations.

*The NYSE DOW closed HIGHER  +75.53 points +0.74% on Tuesday July 20*
Sym. Last......... ........Change..........
Dow 10,229.96 +75.53 +0.74% 
Nasdaq 2,222.49 +24.26 +1.10% 
S&P 500 1,083.48 +12.23 +1.14% 
30-yr Bond 3.9630% -0.2500 

NYSE Volume 5,372,015,000  (prior day 4,689,566,000)
Nasdaq Volume 1,957,777,380  (prior day 1,756,038,000)

Oil 77.44 +0.90 +1.18% 




*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,139.46 -8.82 -0.17% 
DAX 5,967.49 -41.62 -0.69% 
CAC 40 3,468.02 -18.31 -0.53% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,300.46 -107.90 -1.15% 
Hang Seng 20,264.59 +173.64 +0.86%

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Stocks struggle higher in choppy trade; Dow up 75

Stocks rise as investors sort through mixed earnings; Apple scores but Yahoo falls short *

Seth Sutel and Bernard Condon, AP Business Writers, On Tuesday July 20, 2010, 5:44 pm EDT 

NEW YORK (AP) -- Investors are trying to get a read on the economy using earnings reports. They're finding it's not so easy.

The result Tuesday was yet another erratic day of stock trading. The Dow Jones industrial average rose 75 points after having fallen 140 in early trading in response to a series of disappointing revenue reports. Analysts were hard-pressed to come up with a reason for the turnaround. But trading was extremely light, and that tends to skew stock prices.

Analysts said some investors were getting a little more upbeat as they awaited earnings reports from Yahoo Inc. and Apple Inc. after the close. But those reports came in mixed, just like those from the many companies that have also reported second-quarter results. Apple's stock surged in after-hours trading, but Yahoo fell. Like IBM Corp., Johnson & Johnson and Goldman Sachs Inc., its revenue fell short of expectations.

Investors have been quick to sell on even a whiff of bad news. Early Tuesday, they were motivated by the reports from IBM, J&J and Goldman. Investors have been focusing on revenue rather than bottom-line earnings because of the link between companies' sales and the economy. If revenue is down because consumers aren't spending, that's a sign that the economy could remain weak.

Investors seem to have decided as Tuesday wore on that earnings didn't look quite as bad as they first thought. Analysts noted that Goldman's drop in revenue was similar to those reported by JPMorgan Chase & Co., Citigroup Inc. and Bank of America Corp. Their revenue fell not because of a weak economy, but because their customers decided to avoid the financial markets' turbulence during the spring.

Some analysts said there were technical factors involved in the market's moves.

"Investors may have been anticipating the market heading back to early July lows so when it didn't fall apart in early trading, they slowly came back in," said Michael Sheldon, chief market strategist at RDM Financial Group in Westport, Conn.

Those investors were looking at charts that track the movements of indicators including the Standard & Poor's 500. When the S&P reaches, or doesn't reach, a specific level, that can prompt investors to buy or sell.

It was hard to predict what turn trading might take Wednesday. Yahoo and Apple are considered indicators of the overall economy, but their mixed results weren't giving investors a clear-cut direction for stocks.

The Dow rose 75.53, or 0.7 percent, to 10,229.96. The broader Standard & Poor's 500 index rose 12.23, or 1.1 percent, to 1,083.48 and the Nasdaq composite index rose 24.26, or 1.1 percent, to 2,222.49.

Advancing stocks were ahead of losers by 4 to 1 on the New York Stock Exchange, where consolidated volume came to an extremely light 1.7 billion shares, up from Monday's 4.1 billion.

Treasury prices ended the day little changed, although they rose in early trading as stocks fell as investors opted for safer investments. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was unchanged from 2.96 percent late Monday.

Tom di Galoma, head of U.S. government bond trading at Guggenheim Partners, commented on the erratic stock trading: "It's a constant tug-of-war we're seeing" as investors try to figure out how much growth potential there is in the economy. Earnings have been mixed, which adds to the muddled picture, he said.

While earnings reports will continue to flow in on Wednesday and beyond, investors are also going to watch closely the next two days as Federal Reserve Chairman Ben Bernanke gives Congress his semi-annual report on the economy.

Sheldon predicted that Bernanke would reaffirm comments made in the minutes of the Fed's June meeting, which were released last week. There, the Fed predicted that the economy will see softer growth in second half of the year.

If Bernanke is able to placate investors and help send stocks higher, it likely will be a temporary blip. The market has quickly shrugged off the chairman's comments in recent months, and focused instead on the latest bad economic or earnings report.

A downbeat report on the housing sector didn't help the market's early bad mood. The Commerce Department said home construction fell last month to the lowest level since October. The drop was mitigated by a 2.1 percent rise in building permit applications, an indicator of future activity.

Yahoo rose 10 cents in regular trading to $15.20, then dropped $1.10, or 7.2 percent, in after-hours trading. Apple rose $6.31 to $251.89 in regular trading, then surged another $7, or 2.8 percent, in extended trading after its results impressed investors.

Johnson & Johnson's revenues came in flat, and below what analysts were expecting. The company said several recalls of popular nonprescription medicines kept its top line in check. J&J's shares, a component of the Dow, fell 99 cents, or 2.7 percent to $58.58.

For some companies, even matching expectations for revenues isn't enough. Late Monday Texas Instruments reported revenues that came in line with estimates, but investors were disappointed that the company didn't report results as robust as come of its competitors. TI's shares slumped 78 cents, or 3 percent, to $24.77.

IBM fell $3.24, or 2.5 percent, to $126.52.

Goldman Sachs' results are being closely watched since investors are concerned about how much banks will be restricted from trading by new financial regulation reform. The bank's net income after paying preferred stock dividends fell 83 percent to $453 million on lower trading revenue and a charge to settle civil fraud charges brought by the government.

Goldman rose $3.23, or 2.2 percent, to $148.91.

Overseas, Britain's FTSE 100 fell 0.2 percent, Germany's DAX index fell 0.8 percent, and France's CAC-40 fell 0.7 percent. Japan's Nikkei stock average fell 1.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow fell 109.43, or 1.1 percent, to 10,120.53. The broader Standard & Poor's 500 index fell 13.89, or 1.3 percent, to 1,069.59. The Nasdaq composite index lost 35.16, or 1.6 percent, and fell to 2,187.33.

Stocks fell sharply Wednesday after Federal Reserve Chairman Ben Bernanke confirmed investors' fears that the economy has weakened. Interest rates dropped in the Treasury market as investors sought safer places for their money.

Bernanke told a congressional committee that the economy is "unusually uncertain." He said the economy is fragile, but he did not forecast that it would fall back into recession.

The Dow Jones industrial average, which was modestly higher before Bernanke's prepared remarks, fell 109 points as investors absorbed his assessment of the economy, and his statement that the Fed is ready to take action if the economy worsens.

*The NYSE DOW closed LOWER -109.43 points -1.07% on Wednesday July 21*
Sym. Last......... ........Change..........
Dow 10,120.53 -109.43 -1.07% 
Nasdaq 2,187.33 -35.16 -1.58% 
S&P 500 1,069.59 -13.89 -1.28% 
30-yr Bond 3.9010% -0.6200 

NYSE Volume 5,470,259,500 (prior day 5,372,015,000)
Nasdaq Volume 2,245,542,250  (prior day 1,957,777,380)




*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,214.64 +75.18 +1.46% 
DAX 5,990.38 +22.89 +0.38% 
CAC 40 3,493.92 +25.90 +0.75% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,278.83 -21.63 -0.23% 
Hang Seng 20,449.17 +184.58 +0.91% 
Straits Times 2,926.09 -22.52 -0.76% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks drop as Bernanke warns of uncertain economy

Stocks fall sharply after Fed Chairman Bernanke warns of 'unusually uncertain' economy *

Stephen Bernard and Bernard Condon, AP Business Writers, On Wednesday July 21, 2010, 5:47 pm EDT 

NEW YORK (AP) -- Stocks fell sharply Wednesday after Federal Reserve Chairman Ben Bernanke confirmed investors' fears that the economy has weakened. Interest rates dropped in the Treasury market as investors sought safer places for their money.

Bernanke told a congressional committee that the economy is "unusually uncertain." He said the economy is fragile, but he did not forecast that it would fall back into recession.

The Dow Jones industrial average, which was modestly higher before Bernanke's prepared remarks, fell 109 points as investors absorbed his assessment of the economy, and his statement that the Fed is ready to take action if the economy worsens.

Bernanke's comments, part of his semiannual report to Congress, weren't surprising given the disappointing economic reports and corporate earnings numbers released in recent weeks. But they were enough to upset investors who have grown increasingly nervous about the state of the recovery. Some investors may have been hoping for a more upbeat reading from the Fed chairman.

The Fed is still expecting the economy to expand this year, but the central bank has lowered its forecast for growth.

Oliver Pursche, executive vice president at Gary Goldberg Financial Services, said investors took Bernanke's comments as "not exactly a ra-ra USA type of endorsement."

Craig Peckham, market strategist at Jefferies & Co., said stocks fell not because of anything Bernanke said, but what he didn't say about any plans to stimulate the economy. Although Bernanke said the Fed was "prepared to take further policy actions as needed," he also said, "we are not prepared to take any specific steps in the near term" because the Fed is still evaluating the economy.

Peckham said, "The market expected that we'd see more sign of monetary easing in the testimony. But that didn't happen." Monetary easing would include steps to make credit more available or encourage banks to lend more.

The market fluctuated for much of the day on another mixed batch of earnings reports. John Merrill, chief investment officer of Tanglewood Wealth Management in Houston said the day was like many others recently: Very little news but lots of professional traders reacting to it.

"Bernanke said he wants to collect more data before doing anything, and that's just fine. But traders are impatient. They got a 'buy' button and a 'sell' button and they're going to do do one or the other," Merrill said.

The Dow fell 109.43, or 1.1 percent, to 10,120.53. The broader Standard & Poor's 500 index fell 13.89, or 1.3 percent, to 1,069.59. The Nasdaq composite index lost 35.16, or 1.6 percent, and fell to 2,187.33.

Two stocks fell for every one that rose on the New York Stock Exchange. Consolidated volume came to 4.8 billion shares, up from Tuesday's 4.7 billion.

Treasury prices surged and their yields fell as investors sought out the safety of government debt after Bernanke's testimony. The yield on the benchmark 10-year Treasury note, which helps set rates on mortgages and other kinds of loans, fell to 2.88 percent from 2.96 percent late Tuesday.

Investors have been selling stocks since late April on a combination of weak economic indicators and disappointing earnings reports. The Dow, which reached a 2010 high of 11,205.03 on April 26, has fallen 10 percent as investors have seized on any piece of bad news and shrugged off more positive signs about the economy.

In the past few days, companies' revenue figures have become a culprit. Although companies including IBM Corp. and General Electric Co. have beat analysts' second-quarter earnings estimates, their revenue has not met expectations and investors have been selling. The belief in the market is that companies aren't getting the strong sales needed to fuel the economic recovery.

"The numbers aren't bleak but there's no top-line growth, and that's scaring people. There's a realization that the economy is stuck in slow growth for a year or two," said Brian Wenzinger, a portfolio manager at Aronson-Johnson-Ortiz in Philadelphia.

Stocks fell across the market Wednesday. Of the few stocks in the S&P 500 that rose, most were companies that had upbeat earnings news Wednesday or late Tuesday.

Morgan Stanley rose $1.58, or 6.3 percent, to $26.80, after its second-earnings were better than expected. The investment bank weather the stock market's difficult quarter better than some of its competitors. Another banker, Wells Fargo & Co., rose 15 cents, or 0.6 percent, to $26.06, after also surpassing expectations.

Coca-Cola Co. rose 84 cents, or 1.6 percent, to $54.08 after saying its North American soft drink sales stopped falling during the April-June period.

Thursday's earnings reports include some from companies seen as measures of how the overall economy is faring: United Parcel Service Inc., Microsoft Corp. and Caterpillar Inc.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks rally after strong earnings reports and encouraging signs of growth in Europe 

Stocks had their biggest rally in two weeks Thursday as earnings and economic reports reassured investors that the recovery, while uncertain, is continuing.

The Dow Jones industrial average rose 201 points after second-quarter earnings from Caterpillar Inc., UPS Inc. and other companies beat analysts' forecasts. A better than expected report on housing and encouraging signs of growth in Europe added to the upbeat mood.

But investors might be ready to sell again when trading resumes Friday. After the close of regular trading, Amazon.com Inc. issued a report that fell short of expectations. Its stock fell almost 14 percent in after-hours trading. If the market gives back gains Friday, it would follow its pattern of falling on disappointments in what so far has been a mixed earnings season.

*The NYSE DOW closed HIGHER +201.77 points +1.99%  on Thursday July 22*
Sym. Last......... ........Change..........
Dow 10,322.30 +201.77 +1.99% 
Nasdaq 2,245.89 +58.56 +2.68% 
S&P 500 1,093.67 +24.08 +2.25% 
30-yr Bond 3.9480% +0.4700 

NYSE Volume 5,581,216,500  (prior day 5,470,259,500)
Nasdaq Volume 2,281,054,750  (prior day 2,245,542,250)




*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,313.81 +99.17 +1.90% 
DAX 6,142.15 +151.77 +2.53% 
CAC 40 3,600.57 +106.65 +3.05% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,220.88 -57.95 -0.62% 
Hang Seng 20,589.70 +102.47 +0.50% 
Straits Times 2,955.67 +29.58 +1.01% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks surge on upbeat earnings and forecasts

Stocks rally after strong earnings reports and encouraging signs of growth in Europe* 

Stephen Bernard, AP Business Writer, On Thursday July 22, 2010, 5:50 pm 

NEW YORK (AP) -- Stocks had their biggest rally in two weeks Thursday as earnings and economic reports reassured investors that the recovery, while uncertain, is continuing.

The Dow Jones industrial average rose 201 points after second-quarter earnings from Caterpillar Inc., UPS Inc. and other companies beat analysts' forecasts. A better than expected report on housing and encouraging signs of growth in Europe added to the upbeat mood.

But investors might be ready to sell again when trading resumes Friday. After the close of regular trading, Amazon.com Inc. issued a report that fell short of expectations. Its stock fell almost 14 percent in after-hours trading. If the market gives back gains Friday, it would follow its pattern of falling on disappointments in what so far has been a mixed earnings season.

Microsoft Corp. also released earnings after the close of trading and beat analyst estimates. Its stock fell slightly.

Investors had plenty of reasons to buy on Thursday. Caterpillar said its orders are growing and production will pick up in the second half of the year. UPS raised its outlook because of spending by businesses. Caterpillar's stock rose 1.7 percent, while UPS gained 5.2 percent.

Chris Hobart, founder of Hobart Financial Group in Charlotte, N.C., said the outlooks are especially important because, if companies expect to grow, they'll need to hire again.

If improved forecasts lead to jobs growth, "then this can be better than a good quarter or good second half, (it can mean) we've got a good economy," Hobart said.

A report on the housing market, while still showing a slowdown, was reassuring because it wasn't as bad as investors expected. The National Association of Realtors said sales of previously occupied homes fell to an annual rate of 5.37 million in June from 5.66 million a month earlier. Economists forecast the sales rate to fall to 5.18 million.

The Dow rose 201.77, or 2 percent, to 10,322.30. That was the Dow's biggest advance since it rose 274 points on July 7.

The Standard & Poor's 500 index rose 24.08, or 2.3 percent, to 1,093.67, while the Nasdaq composite index rose 58.56, or 2.7 percent, to 2,245.89.

Only 397 stocks fell on the New York Stock Exchange, while 2,675 rose. Consolidated volume came to 4.9 billion shares, up from 4.8 billion on Wednesday.

Traders largely wrote off a jump in the number of people seeking unemployment benefits for the first time. The increase was likely skewed by seasonal factors. Instead, investors focused on earnings from a broad range of companies that showed businesses aren't seeing a slowdown in the recovery. News of corporate deals also lifted shares.

Meanwhile, European markets rose after a report showed unexpected growth in the 16-nation group that uses the euro. In recent months, investors worldwide have been concerned that rising government debt in Europe would stall a global recovery. A jump in Europe's purchasing managers index Thursday was a relief after forecasts of a possible recession on the continent.

The economic reports out of Europe were "a big surprise because everyone expects that to be the Achilles heel of the global economy," said Anthony Chan, chief economist at J.P. Morgan Private Wealth Management in New York.

Problems in Europe set off the big drop in stocks in late April. As Greece struggled to make debt payments and ratings agencies downgraded the government debt of several companies, stocks plunged in the U.S. on fears that the domestic recovery was in jeopardy. Stocks then fell further as U.S. economic reports showed that the recovery was at best bumpy. Some investors feared a "double dip," or the economy falling back into recession.

Overseas, Britain's FTSE 100 rose 1.9 percent, Germany's DAX index gained 2.5 percent and France's CAC-40 rose 3.1 percent. In Japan, where trading ends before it begins in the U.S., the Nikkei stock average fell 0.6 percent.

Bond prices dipped as investors jumped back into stocks. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.94 percent from 2.88 percent late Wednesday.

The market's gains Thursday came a day after investors sold stocks because Federal Reserve Chairman Ben Bernanke warned Congress that the economy remains fragile. Bernanke confirmed investors' fears that the best scenario for the economy is only slow growth and relatively high unemployment. Bernanke testified again before Congress on Thursday, but his comments had little impact on trading.

Guy LeBas, chief fixed income strategist of Janney Montgomery Scott in Philadelphia said there are two groups in the market fighting back and forth, which has led to the volatility. One believes the economy is going to fall back into recession, while the other thinks this is just a pause in a strong rebound.

"There's no middle ground," LeBas said. As a result, he said, each group will pounce on news that backs up their claims and send the market sharply higher or lower. "We are absolutely hypersensitive to what we're seeing."

Amazon, which rose $2.64, or 2.3 percent, to $120.07 in regular trading, slid $16.57, or 13.8 percent, after hours. Microsoft, which rose 72 cents, or 2.9 percent in regular trading, to $25.84, slipped 8 cents in after-hours activity.

UPS jumped $3.14, or 5.2 percent, to $63.15. Caterpillar rose $1.13, or 1.7 percent, to $68.

Homebuilders stocks rose in response to the home sales report. Hovnanian Enterprises Inc. rose 15 cents, or 3.8 percent, to $4.07. KB Home rose 41 cents, or 3.9 percent, to $11.06.

The Labor Department said weekly claims for jobless benefits jumped by 37,000 to 464,000. Economists polled by Thomson Reuters expected claims to rise to 445,000 last week. The big jump comes after a big drop a couple of weeks ago when companies like GM reported fewer temporary layoffs than usual for the time of year. Even with the distorted numbers, high unemployment remains of the biggest obstacles to a strong, sustained recovery.


----------



## bigdog

Source: http://finance.yahoo.com

*The major indexes had a winning week, rebounding from the previous week's loss. The Dow rose 3.2 percent, the S&P 500 rose 3.5 percent and the Nasdaq picked up 4.2 percent*

The Dow closed up 102.32, or 1 percent, at 10,424.62 after rising 201 on Thursday. The Standard & Poor's 500 index rose 8.99, or 0.8 percent, to 1,102.66, while the Nasdaq composite index rose 23.58, or 1.1 percent, to 2,269.47.

Stocks climb after most European banks pass stress tests 

Investors bought stocks again on the latest reassuring news about the economy. This time, it was about European banks.

European regulators, who issued the results of what are called "stress tests" on the banks, said Friday that only a handful would struggle if the continent's economy weakens. That helped send the Dow Jones industrial average up more than 100 points, which gave the index a two-day gain of more than 300.

The latest second-quarter earnings reports also convinced investors that the economic recovery is proceeding. So did announcements that General Electric Co. is raising its dividend and reports that French drug maker Sanofi-Aventis is interested in buying Genzyme Corp.

*The NYSE DOW closed HIGHER +102.32points +0.99% on Friday July 23*
Sym. Last......... ........Change..........
Dow 10,424.62 +102.32 +0.99% 
Nasdaq 2,269.47 +23.58 +1.05% 
S&P 500 1,102.66 +8.99 +0.82% 
30-yr Bond 4.0190% +0.7100 

NYSE Volume 5,172,005,500  (prior day 5,581,216,500)
Nasdaq Volume 2,423,020,500   (prior day 2,281,054,750)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,312.62 -1.19 -0.02% 
DAX 6,166.34 +175.96 +2.94% 
CAC 40 3,607.05 +6.48 +0.18% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,430.96 +210.08 +2.28% 
Hang Seng 20,815.33 +225.63 +1.10% 
Straits Times 2,973.47 +17.80 +0.60% 

http://finance.yahoo.com/news/Stocks-rise-after-Euro-bank-apf-1739687688.html?x=0&.v=4

*Stocks rise after Euro bank tests, earnings

Stocks climb after most European banks pass stress tests *

Stephen Bernard, AP Business Writer, On Friday July 23, 2010, 5:18 pm 

NEW YORK (AP) -- Investors bought stocks again on the latest reassuring news about the economy. This time, it was about European banks.

European regulators, who issued the results of what are called "stress tests" on the banks, said Friday that only a handful would struggle if the continent's economy weakens. That helped send the Dow Jones industrial average up more than 100 points, which gave the index a two-day gain of more than 300.

The latest second-quarter earnings reports also convinced investors that the economic recovery is proceeding. So did announcements that General Electric Co. is raising its dividend and reports that French drug maker Sanofi-Aventis is interested in buying Genzyme Corp.

Investors were initially cautious about the stress tests, which measure how well banks would fare if government debt problems and the region's economy worsened. Europe's debt issues have sent stocks falling worldwide since April amid concerns they could slow the global economic recovery.

There were some concerns in the market that the tests might not have been rigorous enough. Because the results were issued after the close of trading in Europe, it won't be known until Monday how investors on the continent react. And, if they react badly, if that will prompt U.S. investors to sell.

The tests showed that just seven of 91 European banks tested would fail. The European Union said the results should put to rest questions about the health of the continent's financial sector.

Financial stocks, which had struggled early in the day, started to climb after the results were released at midday.

Brian Peardon, a wealth adviser at Harrison Financial Group, said there could be an initial, "gut" reaction to the results based on the headlines alone, but the full impact on the market won't come until next week because there is so much information to sort through.

"It will take the weekend to digest whether they're good or bad," Peardon said.

Some analysts were skeptical because there was little known about the criteria used to test the banks.

"There's obviously a lot of smoke and mirrors in these types of tests," said Albert Meyer, portfolio manager of the Mirzam Capital Appreciation Fund. "They no doubt provide us with numbers that aren't too alarming, even if they are correct."

Investors who have shuttled between buying and selling for weeks on uneven economic and earnings numbers have now had two straight days of upbeat news. On Thursday, stocks surged after Caterpillar Inc., UPS Inc. and other companies released results and forecasts that reassured investors who were disappointed by the first wave of second-quarter announcements. The latest reports, including results issued Friday by companies including Ford Motor Co. and Verizon Communications Inc., convinced investors that the economic recovery may not be as shaky as feared.

The Dow closed up 102.32, or 1 percent, at 10,424.62 after rising 201 on Thursday. The Standard & Poor's 500 index rose 8.99, or 0.8 percent, to 1,102.66, while the Nasdaq composite index rose 23.58, or 1.1 percent, to 2,269.47.

Rising stocks outpaced those that fell by a 4 to 1 margin on the New York Stock Exchange, where volume came to 1.15 billion shares.

The major indexes had a winning week, rebounding from the previous week's loss. The Dow rose 3.2 percent, the S&P 500 rose 3.5 percent and the Nasdaq picked up 4.2 percent.

Investors buying stocks took money out of Treasurys. That sent prices higher and interest rates lower. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3 percent from 2.94 percent late Thursday.

European markets had already closed by the time the test results were released, so investors there couldn't trade following Friday's announcement. German shares rose after a closely watched business climate index rose unexpectedly for the fifth straight month.

Germany's DAX index rose 0.4 percent, Britain's FTSE 100 fell less than 0.1 percent, and France's CAC-40 rose 0.2 percent.

Industrial conglomerate General Electric said it would raise its dividend 2 cents per share and start buying back stock because of its improved financial position. GE was hit hard by the recession, so its ability to turn around and start paying out more money to shareholders is a sign the company believes the economy is improving.

A report that Sanofi-Aventis is looking to buy biotechnology company Genzyme is also boosting markets. Mergers and acquisitions activity is also a sign companies are confident the economy is improving and that they are ready to spend money to grow their businesses.

Meanwhile, Verizon, Ford and American Express Co. reported earnings that topped forecasts. Their results also showed that businesses and consumers are increasing their spending as the economy recovers.

Verizon added more new wireless customers during the second quarter than its top rival, AT&T Inc. Ford's sales jumped 28 percent in first half of the year, nearly double the pace of the industry. And American Express said customers are spending close to pre-recession levels, a sign that shoppers are gaining confidence in their personal finances.

"It provides a glimmer of hope," David Chalupnik, head of equities at First American Funds, said of the largely upbeat earnings throughout the week.

GE rose 50 cents, or 3.3 percent, to $15.71. Sanofi-Aventis' shares trading in the U.S. fell $1.29, or 4.2 percent, to $29.35, while Genzyme jumped $8.35, or 15.4 percent, to $62.52.

Verizon rose $1.02, or 3.8 percent, to $28.02. Ford jumped 63 cents, or 5.2 percent, to $12.72. American Express rose $1.60 or 3.7 percent, to $44.79.

7076


----------



## bigdog

Source: http://finance.yahoo.com

Dow has third straight triple-digit gain on better housing stats, new FedEx forecast 

The Dow Jones industrial average gained more than 100 points for the third straight day Monday after investors got some unexpected good news about the economy.

A report on the housing market came in better than investors anticipated. And shipping giant FedEx Corp. released a forecast that was more upbeat than the prediction it made just six weeks ago.

The news pulled stocks out of a slow start and sent the Dow up 100 points by the close for a three-day gain of 405. Investors who a week ago were selling on a pessimistic view of companies' earnings and the economy are now buying on the belief that the economic recovery, while slow, is proceeding.

*The NYSE DOW closed HIGHER +100.81 points +0.97% on Monday July 26*
Sym. Last......... ........Change..........
Dow 10,525.43 +100.81 +0.97% 
Nasdaq 2,296.43 +26.96 +1.19% 
S&P 500 1,115.01 +12.35 +1.12% 
30-yr Bond 4.0180% -0.0100 

NYSE Volume 4,626,048,000  (prior day 5,172,005,500) 
Nasdaq Volume 2,188,979,750  (prior day 2,423,020,500)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,351.12 +38.50 +0.72% 
DAX 6,194.21 +27.87 +0.45% 
CAC 40 3,636.18 +29.13 +0.81% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,503.66 +72.70 +0.77% 
Hang Seng 20,839.91 +24.58 +0.12% 
Straits Times 2,966.99 -6.48 -0.22% 

http://finance.yahoo.com/news/Good-...8.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Good news gives Dow 3rd straight triple digit gain

Dow has third straight triple-digit gain on better housing stats, new FedEx forecast *

Stephen Bernard, AP Business Writer, On Monday July 26, 2010, 5:46 pm EDT

NEW YORK (AP) -- The Dow Jones industrial average gained more than 100 points for the third straight day Monday after investors got some unexpected good news about the economy.

A report on the housing market came in better than investors anticipated. And shipping giant FedEx Corp. released a forecast that was more upbeat than the prediction it made just six weeks ago.

The news pulled stocks out of a slow start and sent the Dow up 100 points by the close for a three-day gain of 405. Investors who a week ago were selling on a pessimistic view of companies' earnings and the economy are now buying on the belief that the economic recovery, while slow, is proceeding.

The Dow has now closed higher in 12 of 17 trading days this month. Its latest advance means the average is up 7.7 percent in July after falling 10 percent from April through June on a stream of bad economic news. The Dow is also up 0.9 percent for the year. The broader Standard & Poor's 500 index is still in the negative for 2010, but barely. It's down less than 0.01 percent.

Trading volume was light Monday, a sign that investors might be a little cautious despite the advance. Many are likely waiting for hundreds of earnings reports to be released this week before they make any major investing decisions.

But FedEx gave investors reason to buy when it said its overnight and ground delivery businesses are doing better than expected, and that it expects a moderate global economic recovery. That was heartening news for investors because the shipping giant, which carries packages for businesses and consumers, is considered a barometer for how the economy is doing.

The shipping company raised its earnings forecast for the three months that will end Aug. 31. It said it expects to earn between $1.05 and $1.25 per share, up from its previous estimate of 85 cents to $1.05 per share.

Six weeks ago, investors were disappointed by FedEx's forecast.

"FedEx tells you a lot about overall manufacturing in the country," said Russ Koesterich a managing director at the money manager BlackRock Inc. "The positive release tells investors the recovery is bumpy but is still on pace."

Shortly after trading began, the Commerce Department said new home sales rebounded from a record low in May to an annual rate of 330,000 units, more than economists expected. The gain came after sales hit a record low annual rate of 267,000 in May. The report showed that the housing market might be weathering the severe slump that began with the expiration of a homebuyer's tax credit at the end of April.

Sales are still down 72 percent from their peak annual rate of 1.39 million in July 2005. Last year, sales plunged to a rate of 375,000 last year. So June's number was still weak, but investors were relieved that it wasn't worse.

"It tells investors that the housing market is not melting down again," Koesterich said. "One of the big fears is that as government stimulus is taken away there is going to be another housing meltdown -- that doesn't appear to the case."

Homebuilders stocks rose on the news. D.R. Horton Inc., Lennar Corp. and Toll Bros. Inc. rose more than 2 percent after the report.

The Dow rose 100.81, or 1 percent, to 10,525.43. Only one of the Dow's 30 stocks fell. Wal-Mart Stores Inc. fell 54 cents, or 1 percent, to $51.13.

The S&P 500 index rose 12.35, or 1.1 percent, to 1,115.01. Analysts said stocks were helped Monday by the fact that S&P 500 stayed above 1,100, an important psychological level. When the index didn't give back its gains, more investors were encouraged to buy.

The Nasdaq composite index rose 26.96, or 1.2 percent, to 2,296.43.

About four stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1 billion shares.

Bond prices were narrowly mixed. The yield on the 10-year note, which moves opposite its price, fell to 2.99 percent from 3 percent late Friday. That yield helps set interest rates on mortgages and other consumer loans.

Stocks have rallied in recent days as more companies reported strong second-quarter earnings and revenue and raised their outlooks for the coming quarters.

"There's been too much negativism priced in and we're coming off that," said Brian Gendreau, market strategist at Financial Network Investment Corp. "Earnings reports are definitely helping."

D.R. Horton rose 32 cents, or 3 percent, to $11.17. Lennar rose 49 cents, or 3.3 percent, to $15.42, while Toll Bros. rose 42 cents, or 2.4 percent, to $17.82.

FedEx gained $4.43, or 5.6 percent, to $83.39. Rival shipper UPS Inc. rose $1.21, or 1.9 percent, to $64.88.

European markets rose slightly as investors had their first chance to react to a series of tests that assessed the health of the continent's big banks. Regulators said only seven of the 91 banks tested would struggle if the European economy and government debt problems worsened.

Britain's FTSE 100 rose 0.7 percent, Germany's DAX index rose 0.5 percent, and France's CAC-40 gained 0.8 percent. Japan's Nikkei stock average rose 0.8 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks fall on consumer confidence dip; economic data distracts investors from strong earnings

News that consumers are more pessimistic put the stock market's rally on hold.

Stocks fell modestly Tuesday after three days of big gains. The Dow Jones industrial average rose 12 points for its fourth straight advance, but the gain was largely to due a jump in DuPont Co. after the chemical maker reported strong earnings. Broader market indexes fell slightly, and there were more losers than gainers on the New York Stock Exchange.

The Conference Board's report that its Consumer Confidence Index fell to 50.4 from June's revised reading of 54.3 distracted investors from another batch of upbeat earnings reports. The market had expected the index to come in at 51.

*The NYSE DOW closed HIGHER +12.26 points +0.12% on Tuesday July 27*
Sym. Last......... ........Change..........
Dow 10,537.69 +12.26 +0.12% 
Nasdaq 2,288.25 -8.18 -0.36% 
S&P 500 1,113.84 -1.17 -0.10% 
30-yr Bond 4.0800% +0.6200 

NYSE Volume 5,363,133,500  (prior day 4,626,048,000)
Nasdaq Volume 2,073,491,880   (prior day 2,188,979,750)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,365.67 +14.55 +0.27% 
DAX 6,207.31 +13.10 +0.21% 
CAC 40 3,666.40 +30.22 +0.83% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,496.85 -6.81 -0.07% 
Hang Seng 20,973.39 +133.48 +0.64% 
Straits Times 2,979.38 +12.39 +0.42% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks fall slightly on consumer confidence report

Stocks fall on consumer confidence dip; economic data distracts investors from strong earnings *

Stephen Bernard, AP Business Writer, On Tuesday July 27, 2010, 5:53 pm EDT 

NEW YORK (AP) -- News that consumers are more pessimistic put the stock market's rally on hold.

Stocks fell modestly Tuesday after three days of big gains. The Dow Jones industrial average rose 12 points for its fourth straight advance, but the gain was largely to due a jump in DuPont Co. after the chemical maker reported strong earnings. Broader market indexes fell slightly, and there were more losers than gainers on the New York Stock Exchange.

The Conference Board's report that its Consumer Confidence Index fell to 50.4 from June's revised reading of 54.3 distracted investors from another batch of upbeat earnings reports. The market had expected the index to come in at 51.

Consumer confidence has fallen in recent months as people have waited in vain for a turnaround in the job market. That has made many consumers hesitant to spend and in turn raised concerns about the economic recovery. Most retail stocks fell after the confidence number was released.

Companies have a very different take on the economy from consumers. Chemical maker DuPont on Tuesday joined the growing number of big corporations that have raised their earnings forecasts. DuPont also easily beat analysts' predictions for its second-quarter profit and revenue. The company's stock rose $1.39, or 3.6 percent, to $40.38, and accounted for 10.52 points of the Dow's advance.

Investors have been torn over the past few months between buying on companies' upbeat reports and selling on government and private sector numbers that keep pointing to a slowing of the economy.

"Investors are really uncertain whether to focus on the underlying economy or earnings," said Tyler Vernon, principal and portfolio manager at Biltmore Capital Advisors.

Although earnings had investors' attention the past two weeks, the occasional economic number like Tuesday's consumer confidence survey can trump companies' results, Vernon said. When earnings reports are done, unsettling data on jobs, housing and consumer spending will dominate trading, and may well lead to more selling.

John Brady, a senior vice president at MF Global in Chicago, said there is little that's likely to turn around consumer confidence in the near future. Consumers won't become more optimistic until they see a drop in unemployment and clear signs that employers are hiring.

"I don't know what turns around confidence aside from jobs growth," Brady said.

The Dow rose 12.26, or 0.1 percent, to 10,537.69 after gaining 405 points the past three days on strong earnings and forecasts. The Dow has surged in July, rising almost 8 percent. The sharp gains helped push the index back into the black for the year on Monday.

The Standard & Poor's 500 index fell 1.17, or 0.1 percent, to 1,113.84, while the Nasdaq composite index fell 8.18, or 0.4 percent, to 2,288.25.

Losing stocks were ahead of gainers by about 4 to 3 on the New York Stock Exchange, where volume came to 4.7 billion shares, up from Monday's 4.1 billion.

Bond prices fell, sending their yields higher. The yield on the 10-year Treasury note rose to 3.05 percent from 2.99 percent late Monday. That yield helps set interest rates on mortgages and other consumer loans.

The fact that stocks didn't fall further on the consumer news was a sign that investors weren't that upset by the reading. During the past few months, bad news after a big gain was likely to send stocks tumbling. But analysts said they saw more cashing in of gains rather than anxiety behind Tuesday's trading.

"People say they want to book their profits rather than wait for another plunge," said Richard A. Dickson, senior market strategist, at Lowry Research.

The market had some other negative economic news Tuesday, a report of a slowdown in regional manufacturing from the Richmond Federal Reserve. The Richmond Fed's manufacturing index fell to 16 this month from 23 in June.

News on the housing market was mildly upbeat. The S&P/Case-Shiller 20-city home price index for May rose 1.3 percent from April. But the homebuyer's tax credit that expired April 30 had an impact on the reading, and the report warned that the recent gains in home prices are not likely to last.

But there was good economic news from overseas. Major European banks including UBS AG and Deutsche Bank reported strong earnings. The results came a few days after regulators evaluated banks across Europe to see which might have trouble surviving another economic downturn. Major European indexes rose following the earnings and another positive report on Germany's economy.

UBS shares trading in the U.S. rose $1.35, or 8.9 percent, to $16.50. Deutsche Bank jumped $1.88 or 2.8 percent, to $68.06.

Apparel retailers were some of the hardest hit by the drop in consumer confidence. AnnTaylor Stores Corp. fell 33 cents, or 5 percent, to $16.87. Talbots Inc. fell 51 cents, or 4.3 percent, to $11.43.

Britain's FTSE 100 rose 0.3 percent, Germany's DAX index gained 0.2 percent, and France's CAC-40 rose 0.8 percent. Japan's Nikkei stock average earlier fell 0.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Dow ends 4-day win streak on Fed economic report

Investors cashed in some of their recent gains Wednesday after the Federal Reserve gave them more confirmation that the economic recovery is slowing.

The Dow Jones industrial average fell almost 40 points after the Fed released its regional survey of the economy, a report known as the "beige book." The Fed said economic growth has been steady during the summer in Cleveland and Kansas City, but has slowed in Atlanta and Chicago. The central bank described economic activity elsewhere as modest.

The report had some sobering news about manufacturing, which had been one of the strongest parts of the economy. While manufacturing expanded in most of the Fed's 12 regions, about half ”” New York, Cleveland, Kansas City, Chicago, Atlanta and Richmond ”” said manufacturing had "slowed" or "leveled off."

*The NYSE DOW closed LOWER -39.81 points -0.38% on Wednesday July 28*
Sym. Last......... ........Change..........
Dow 10,497.88 -39.81 -0.38% 
Nasdaq 2,264.56 -23.69 -1.04% 
S&P 500 1,106.13 -7.71 -0.69% 
30-yr Bond 4.0680% -0.1200 

NYSE Volume 4,590,497,000 (prior day 5,363,133,500)
Nasdaq Volume 1,877,168,250  (prior day 2,073,491,880)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,319.68 -45.99 -0.86% 
DAX 6,178.94 -28.37 -0.46% 
CAC 40 3,670.36 +3.96 +0.11% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,753.27 +256.42 +2.70% 
Hang Seng 21,105.67 +132.28 +0.63% 
Straits Times 2,985.38 +6.00 +0.20% 

http://news.yahoo.com/s/ap/20100728/ap_on_bi_st_ma_re/us_wall_street

*Dow ends 4-day win streak on Fed economic report*

By STEPHEN BERNARD, AP Business Writer Stephen Bernard, Ap Business Writer 

NEW YORK – Investors cashed in some of their recent gains Wednesday after the Federal Reserve gave them more confirmation that the economic recovery is slowing.

The Dow Jones industrial average fell almost 40 points after the Fed released its regional survey of the economy, a report known as the "beige book." The Fed said economic growth has been steady during the summer in Cleveland and Kansas City, but has slowed in Atlanta and Chicago. The central bank described economic activity elsewhere as modest.

The report had some sobering news about manufacturing, which had been one of the strongest parts of the economy. While manufacturing expanded in most of the Fed's 12 regions, about half ”” New York, Cleveland, Kansas City, Chicago, Atlanta and Richmond ”” said manufacturing had "slowed" or "leveled off."

Investors weren't surprised by the Fed report, but they also didn't like hearing their own downbeat assessment of the economy confirmed by the central bank.

"It does reiterate that the economy is not bouncing back as much as we would hope," Ryan Detrick, senior technical strategist chairman of Schaeffer's Investment Research, said of the beige book.

But Detrick also said the report gave investors an excuse to cash in some of their gains from the market's rally late last week and early this week. The Dow rose almost 420 points in four days as investors bought stocks in response to companies' strong second-quarter earnings and upbeat forecasts for the rest of the year.

The Fed survey followed a disappointing Commerce Department durable goods orders report early in the day. Orders for durable goods, which are expected to last at least three years, fell 1 percent in June. Economists expected a 1 percent gain.

Investors have been trying in recent weeks to balance strong earnings and corporate outlooks with economic data that isn't as encouraging. A drop in consumer confidence Tuesday helped push stocks mostly lower although another batch of robust earnings reports came out.

"The biggest issue the market is looking at is whether the soft patch in economic data is likely to continue," said Michael Sheldon, chief market strategist RDM Financial Group. "Investors wonder if the strong earnings reports that we have seen are more backwards as opposed to forwards looking."

The Dow fell 39.81, or 0.4 percent, to 10,497.88. The Standard & Poor's 500 index fell 7.71, or 0.7 percent, to 1,106.13, while the Nasdaq composite index fell 23.69, or 1 percent, to 2,264.56.

Two stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 4.1 billion shares versus 4.7 billion shares Tuesday.

Volume has been light even by summer standards, which has added to the day-to-day volatility. Many investors have been staying out of the market while they try to get a clearer sense of how the economy is faring.

Treasury prices, which get a boost from bad economic news, rose after the beige book was released. That sent interest rates lower. The yield on the 10-year Treasury note, which moves opposite its price, fell to 2.99 percent from 3.05 percent compared with late Tuesday. That yield helps set interest rates on mortgages and other consumer loans.

David Hefty, CEO of Cornerstone Wealth Management, said many investors are waiting for the government's report on gross domestic product, the broadest measure of how the economy is doing, before making any big investing moves.

The report will be issued before trading opens on Friday. Economists surveyed by Thomson Reuters are forecasting that the GDP rose at an annual rate 2.3 percent from April-June. That would be down from the first quarter's 2.7 percent.

Earnings reports were mixed Wednesday. Boeing Co. said its profit slipped from a year ago, but results still topped expectations. The airplane maker also didn't adjust its outlook.

Sprint Nextel Corp. said it added subscribers to its network for the first time in three years during the second quarter as it improves customer service and retention. Its revenue slightly topped forecasts.

ConocoPhillips profit more than doubled as refining margins improved and oil prices rose. 

Sprint Nextel rose 1 cent to $4.84. ConocoPhillips was unchanged at $54.44. Boeing fell $1.30 to $67.32. 

Overseas, Britain's FTSE 100 fell 0.9 percent, Germany's DAX index dropped 0.5 percent, and France's CAC-40 rose 0.1 percent. Japan's Nikkei stock average jumped 2.7 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks end erratic session with a loss as investors try to reconcile conflicting signals 

Stocks ended an erratic day with a modest loss Thursday as investors tried to reconcile another batch of conflicting economic signals.

The Dow Jones industrial average closed down 30 points after falling as much as 110 and rising 87 during the course of the day. The other big market indexes also closed slightly lower.

Thursday's trading fit with the market's months-long pattern. Investors are torn between upbeat earnings news from companies and reports that point to an uncertain recovery. That indecision was clear as stocks rose on strong earnings at Southwest Airlines Co., ExxonMobil Corp. and other companies, then fell on disappointment over a slight drop in first-time claims for unemployment benefits.

*The NYSE DOW closed LOWER -30.72 points -0.29% on Thursday July 29*
Sym. Last......... ........Change..........
Dow 10,467.16 -30.72 -0.29% 
Nasdaq 2,251.69 -12.87 -0.57% 
S&P 500 1,101.53 -4.60 -0.42% 
30-yr Bond 4.0800% +0.1200 

NYSE Volume 5,287,627,000  (prior day 4,590,497,000)
Nasdaq Volume 2,341,117,250  (prior day 1,877,168,250)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,313.95 -5.73 -0.11% 
DAX 6,134.70 -44.24 -0.72% 
CAC 40 3,651.91 -18.45 -0.50% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,696.02 -57.25 -0.59% 
Hang Seng 21,093.82 +2.64 +0.01% 
Straits Times 2,997.65 +12.27 +0.41% 

http://finance.yahoo.com/news/Stocks-fall-amid-uncertainty-apf-3425626932.html?x=0

*Stocks fall amid uncertainty over the economy

Stocks end erratic session with a loss as investors try to reconcile conflicting signals *

Stephen Bernard, AP Business Writer, On Thursday July 29, 2010, 5:38 pm

NEW YORK (AP) -- Stocks ended an erratic day with a modest loss Thursday as investors tried to reconcile another batch of conflicting economic signals.

The Dow Jones industrial average closed down 30 points after falling as much as 110 and rising 87 during the course of the day. The other big market indexes also closed slightly lower.

Thursday's trading fit with the market's months-long pattern. Investors are torn between upbeat earnings news from companies and reports that point to an uncertain recovery. That indecision was clear as stocks rose on strong earnings at Southwest Airlines Co., ExxonMobil Corp. and other companies, then fell on disappointment over a slight drop in first-time claims for unemployment benefits.

Traders were also uneasy ahead of the first reading on U.S. gross domestic product for the April-June quarter, to be released Friday.

"This is a market that is trying to ascertain how deep the downturn is going to be and it is a market that's future-looking," said Quincy Krosby, a market strategist with Prudential Financial.

"It's looking at numbers five to six months from now, trying to get a portrait of the economy and where earnings are going to be. Until it gets clarity on that it's going to be a choppy market."

There was little to help traders get that clarity Thursday. The Labor Department said initial claims for unemployment benefits dropped by a modest 11,000 to 457,000 last week. That's slightly better than the 459,000 forecast by economists polled by Thomson Reuters, but investors were disappointed because the drop was so small.

"They saw it was more of the same," said Bryan Jordan, director of financial markets analysis at Nationwide Investments. "This is an unusually stagnant labor market."

The Dow fell 30.72, or 0.3 percent, to 10,467.16. Although the Dow has fallen 70 points over the past two days, it is up 7.1 percent for July with one trading day to go.

A big chunk of the July gain came in just four days that ended Tuesday, as the average rose 420 points in response to strong earnings. On Wednesday, however, the Federal Reserve's assessment of the economy region by region reaffirmed for investors the fact that the recovery has slowed. Stocks fell and they continued their slide amid Thursday's uncertainty.

The Standard & Poor's 500 index fell 4.60, or 0.4 percent, to 1,101.53. The Nasdaq composite index fell 12.87, or 0.6 percent,to 2,251.69.

Rising stocks were narrowly ahead of losers on the New York Stock Exchange. Consolidated volume, which includes shares traded on other exchanges, was light at 4.7 billion shares, up from Wednesday's 4.1 billion. Many investors sat out the day because of the market's inability to settle on a direction.

Bond prices were mixed. The yield on the 10-year Treasury note, which moves opposite its price, was 2.99 percent, unchanged from late Wednesday. The 10-year yield helps set interest rates on mortgages and other consumer loans.

Traders will look next to Friday's GDP report for a sense of how the recovery is doing. Economists surveyed by Thomson Reuters are forecasting that the GDP, the broadest measure of the economy, slowed in the second quarter to an annual rate of 2.5 percent as the government cut back on stimulus programs. That would be down from the first quarter's 2.7 percent.

Southwest reported income that beat analyst forecasts. The company reported heavy traffic to start the summer travel season. ExxonMobil's earnings rose as a result of higher oil prices.

Japanese electronics maker Sony also reported strong earnings because of a jump in sales of televisions and PlayStation 3 gaming consoles.

Sony shares trading in the U.S. jumped $2.34, or 7.9 percent, to $31.90. Southwest shares were unchanged at $12.01. ExxonMobil dipped 57 cents to $60.34 after rising earlier in the day.

Colgate-Palmolive's earnings beat forecasts, but revenue fell short of expectations. It also said it would take a bigger charge than previously expected because of Venezuela's devaluation of its currency. When currencies in other countries fall, overseas profits for U.S. companies also come in lower when they're translated into dollars.

The consumer products maker's stock fell $5.74, or 6.8 percent, to $78.12.

Britain's FTSE 100 fell 0.1 percent, Germany's DAX index fell 0.7 percent, and France's CAC-40 dropped 0.5 percent. Japan's Nikkei stock average fell 0.6 percent.


----------



## bigdog

Source: http://finance.yahoo.com

*Stocks end July with big gain; Dow gains 7.1 pct

Stocks end July with biggest gains in a year; Close is mixed after second-quarter GDP report *

Stocks had a fitting end to a choppy July as prices seesawed their way to a narrowly mixed finish. The market still had its best month in a year.

Investors had an ambivalent response Friday to the government's gross domestic product report, which showed that economic growth slowed in the April-June quarter. The Dow Jones industrial average fell almost 120 points in early trading, then ratcheted up and down until the close. The Dow ended down just a point, and the other big indexes had similarly small moves.

The day was much like the rest of July, which saw investors alternately buying on strong earnings reports and selling on weak economic numbers. The Dow rose 7.1 percent for the month. The Dow and the Standard & Poor's 500 index both had their best months since July 2009 and their first winning months since this past April.

The Dow's top five performers for the month all had strong earnings: DuPont Co., which rose 17.58 percent during July; Caterpillar Inc., up 16.11 percent; American Express Co., up 12.44 percent; Chevron Corp., up 12.30 percent and Microsoft Corp., up 12.17 percent.

*The NYSE DOW closed LOWER -1.22points -0.01% on Friday July 30*
Sym. Last......... ........Change..........
Dow 10,465.94 -1.22 -0.01% 
Nasdaq 2,254.70 +3.01 +0.13% 
S&P 500 1,101.60 +0.07 +0.01% 
30-yr Bond 3.9770% -1.0300 

NYSE Volume  4,729,619,500 (prior day 5,287,627,000)
Nasdaq Volume 2,172,149,750  (prior day 2,341,117,250)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,258.02 -55.93 -1.05% 
DAX 6,147.97 +13.27 +0.22% 
CAC 40 3,643.14 -8.77 -0.24% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,537.30 -158.72 -1.64% 
Hang Seng 21,029.81 -64.01 -0.30% 
Straits Times 2,987.70 -9.95 -0.33% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks end July with big gain; Dow gains 7.1 pct

Stocks end July with biggest gains in a year; Close is mixed after second-quarter GDP report *

Stephen Bernard, AP Business Writer, On Friday July 30, 2010, 5:48 pm EDT 

NEW YORK (AP) -- Stocks had a fitting end to a choppy July as prices seesawed their way to a narrowly mixed finish. The market still had its best month in a year.

Investors had an ambivalent response Friday to the government's gross domestic product report, which showed that economic growth slowed in the April-June quarter. The Dow Jones industrial average fell almost 120 points in early trading, then ratcheted up and down until the close. The Dow ended down just a point, and the other big indexes had similarly small moves.

The day was much like the rest of July, which saw investors alternately buying on strong earnings reports and selling on weak economic numbers. The Dow rose 7.1 percent for the month. The Dow and the Standard & Poor's 500 index both had their best months since July 2009 and their first winning months since this past April.

A repeat performance in August seemed unlikely due to the market's current pessimism, especially since the bulk of second-quarter earnings reports are in. Many investors, uncertain about the where the market is heading, stayed on the sidelines for much of July or moved money into safer investments. Even on days when the Dow was up 100 or 300 points, trading volume was unusually low.

"It's a very cautious environment today," said Rob Lutts, president, CIO at Cabot Money Management. That caution, he said, is what leads investors to sell.

The Commerce Department's GDP report was troubling for the market, and followed recent reports on housing and unemployment that showed the recovery has slowed. GDP grew at an annual pace of 2.4 percent in the second quarter, less than the 2.5 percent forecast of economists polled by Thomson Reuters.

Analysts said that as investors read deeper into the report, it didn't look as bad as they initially thought. They found some good news in the consumer savings rate.

Business spending on equipment and software also jumped in the second quarter by the biggest amount in 13 years. That was encouraging because it means companies could be getting ready to start hiring.

"We had a little bit for the bulls and a little bit for the bears," Lutts said, "and ultimately no one is really happy."

The Dow fell 1.22, or 0.01 percent, to 10,465.94. Its July gain was its best monthly advance since it rose 7.8 percent in July 2009.

The Dow's top five performers for the month all had strong earnings: DuPont Co., which rose 17.58 percent during July; Caterpillar Inc., up 16.11 percent; American Express Co., up 12.44 percent; Chevron Corp., up 12.30 percent and Microsoft Corp., up 12.17 percent.

The Standard & Poor's 500 index rose 0.07, or 0.01 percent, to 1,101.60. It rose 6.9 percent for July, its best performance since it rose 7.4 percent in July 2009.

The Nasdaq composite index rose 3.01, or 0.1 percent, to 2,254.70.

Rising stocks outpaced losers by about 3 to 2 on the New York Stock Exchange. Consolidated volume, including shares traded on other exchanges, came to a very light 4.2 billion shares, down from Thursday's 4.7 billion.

Volume usually falls off in the summertime but stays strong during July. This July was particularly slow.

"The biggest crowds aren't on the trading floor, they are on the beach. People don't want to be involved in the market now," said Jeffrey Frankel, president of Stuart Frankel & Co. "One day they are up, one day they are down. Nothing is making any sense. That's why there is no volume."

Treasurys benefited from the uncertainty. The yield on the 10-year Treasury note, which moves opposite its price, fell to 2.91 percent from 2.99 percent. Its yield is often used as a benchmark for interest rates on mortgages and other consumer loans. A yield below 3 percent suggests investors are worried about long-term growth and don't fear inflation will be a problem anytime soon. Inflation is a threat to the long-term value of bonds.

Investors did get some mildly good news from two other economic reports. The University of Michigan/Reuters consumer sentiment index for July rose slightly more than expected to 67.8 from a preliminary reading of 66.5. Economists expected it to rise to 67.

The Chicago Purchasing Managers Index, which measures manufacturing activity in the Midwest, rose unexpectedly to 62.3 this month from 59.1 in June. Economists were expecting a drop to 56.5. The report is seen as an indicator of how the Institute for Supply Management's nationwide manufacturing index is likely to come in when it's released on Monday.

Traders were also being cautious because they're waiting for a series of key reports next week that will give a first look at how the economy is doing in the current quarter. The ISM will have two reports and the Labor Department issues its report on employment for this month.

Economists predict the ISM will say manufacturing and the services industry expanded in July but at a slower pace than in June. Meanwhile, the unemployment rate likely inched higher to 9.6 percent in July from 9.5 percent in June as the government laid off more temporary census workers. Private employers likely added 90,000 jobs during the month, slightly better than in June.

Overseas markets mostly fell Friday after reports that Spain's credit rating is likely to be cut by Moody's Investors Service. The potential downgrade comes as the country's unemployment rate jumped to a 13-year high of 20.09 percent and the government continues to grapple with rising debt problems.

Spain's IBEX 35 fell 1.2 percent. Britain's FTSE 100 fell 1.1 percent, Germany's DAX index rose 0.2 percent, and France's CAC-40 fell 0.2 percent. Japan's Nikkei stock average fell 1.6 percent.

7477


----------



## bigdog

Source: http://finance.yahoo.com

The stock market began August with a huge rally after reports from around the world revived investors' faith in the global recovery.

The Dow Jones industrial average rose 208 points Monday to its highest close in three months. All the major stock indexes rose about 2 percent.

The first day of the month brought a stream of news that reassured investors who have worried about a slowing of economic growth in the U.S., China and Europe. Manufacturing was a common thread:

-- The Institute for Supply Management's index of U.S. manufacturing activity during July was better than the market expected. Factory activity has now been expanding for a full year, one of the brightest spots in the U.S. economy.

-- A manufacturing report for the 16 countries that use the euro was revised higher for July and showed that the European economy is recovering faster than expected. Strong earnings reports from European banks also pleased the market, especially after the continent's rising debt problems helped trigger a spring plunge in stocks.

-- From China came news that industrial growth was moderate enough that Beijing isn't likely to take steps to slow that country's economy. Investors have periodically sold stocks on concerns that China's economy would slow and pull others down with it.

*The NYSE DOW closed HIGHER +208.44 +1.99% on Monday August 2*
Sym. Last......... ........Change..........
Dow 10,674.38 +208.44 +1.99% 
Nasdaq 2,295.36 +40.66 +1.80% 
S&P 500 1,125.86 +24.26 +2.20% 
30-yr Bond 4.0670% +0.9000 

NYSE Volume 4,829,248,000  (prior day 4,729,619,500)
Nasdaq Volume 1,974,891,750  (prior day 2,172,149,750)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,397.11 +139.09 +2.65% 
DAX 6,292.13 +144.16 +2.34% 
CAC 40 3,752.03 +108.89 +2.99% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,570.31 +33.01 +0.35% 
Hang Seng 21,412.79 +382.98 +1.82% 
Straits Times 3,025.04 +37.34 +1.25% 

http://finance.yahoo.com/news/Stocks-start-off-August-with-apf-2489423678.html?x=0

*Economic reports give stocks big start for August

Stocks start August with big rally after better-than-expected report on manufacturing* 

Stephen Bernard, AP Business Writer, On Monday August 2, 2010, 5:39 pm 

NEW YORK (AP) -- The stock market began August with a huge rally after reports from around the world revived investors' faith in the global recovery.

The Dow Jones industrial average rose 208 points Monday to its highest close in three months. All the major stock indexes rose about 2 percent.

The first day of the month brought a stream of news that reassured investors who have worried about a slowing of economic growth in the U.S., China and Europe. Manufacturing was a common thread:

-- The Institute for Supply Management's index of U.S. manufacturing activity during July was better than the market expected. Factory activity has now been expanding for a full year, one of the brightest spots in the U.S. economy.

-- A manufacturing report for the 16 countries that use the euro was revised higher for July and showed that the European economy is recovering faster than expected. Strong earnings reports from European banks also pleased the market, especially after the continent's rising debt problems helped trigger a spring plunge in stocks.

-- From China came news that industrial growth was moderate enough that Beijing isn't likely to take steps to slow that country's economy. Investors have periodically sold stocks on concerns that China's economy would slow and pull others down with it.

Monday's news was encouraging after months of reports that showed the recovery was weakening. Those reports pulled the major stock indexes off their 2010 highs in late April and contributed to sharp swings in stock prices since then. The ISM report is significant because it is the first major reading of the economy from July, and investors are trying to determine just how strong the recovery will be in the second half of the year.

Some analysts were cautious even as stock prices jumped.

Alan Gayle, senior investment strategist for RidgeWorth Investments in Richmond, Va., said Monday's news, while good, showed only small changes in the economy.

"I do believe the pace of the (economic) expansion is slowing and I think that's going to weigh on the markets as we go through the second half of the year," he said.

Volume was light Monday as many investors, following the strategy they used during July, decided to stay out of the market until they feel more confident that its gains will hold. Many traders are also on vacation, and the drop in activity can exaggerate price moves.

The Dow rose 208.44, or 2 percent, to 10,674.38, its highest close since May 13, when it finished at 10,782.95. All 30 of the Dow stocks closed higher.

This was the Dow's best first trading day for the month of August since 1934. August in general is seen as a volatile month for stocks, largely because of the light volume.

The Standard & Poor's 500 index rose 24.26, or 2.2 percent, to 1,125.86, while the Nasdaq composite index rose 40.66, or 1.8 percent, to 2,295.36.

Six stocks rose for every one that fell on the New York Stock Exchange where volume came to a light 4.2 billion shares, down from Friday's 4.6 billion.

With stocks looking more appealing, bond prices fell because investors felt less need to seek the safety of government securities. The yield on the 10-year Treasury note, which moves opposite its price, rose to 2.97 percent from 2.91 percent late Friday. Its yield is often used as a benchmark to set interest rates on mortgages and other consumer loans.

Stocks were up across the market. Industrial and materials stocks, including 3M Co. and General Electric Co., rose after the ISM report. Investors were encouraged in particular by several key components of the index. Production and new orders both improved, as did companies' willingness to hire new employees.

3M rose $1.87, or 2.2 percent, to $87.41, while GE rose 29 cents to $16.41.

Energy companies rose as the price of oil gained on expectations that a healthier economy will lift demand. ExxonMobil Corp. rose $2.26, or 3.8 percent, to $61.94, while Chevron Corp. jumped $1.59, or 2.1 percent, to $77.80.

Benchmark crude rose $2.39, or 3 percent, to settle at $81.34 a barrel on the New York Mercantile Exchange.

Financial stocks rose on the strong earnings reports from European-based banking giants HSBC and BNP Paribas, which convinced investors that the continent's financial sector is not being hurt by the debt problems.

HSBC shares trading in the U.S. rose $2.66, or 5.2 percent, to $53.74. Bank of America Corp. rose 40 cents, or 2.9 percent, to $14.44. JPMorgan Chase & Co. rose $1.36, or 3.4 percent, to $41.64.

Whether investors can hold on to their optimism will turn on the government's July employment report, which is being released on Friday.

"The public is more cautious," said Bruce McCain, chief investment strategist at Key Private Bank.

McCain said it would take a string of economic reports that consistently beat expectations to bring more investors back into the market. That makes this week especially important with plenty of reports, including the employment report and ISM's service sector report, due out later this week.

Britain's FTSE 100 gained 2.7 percent, Germany's DAX index rose 2.3 percent, and France's CAC-40 rose 3 percent. Japan's Nikkei stock average rose 0.4 percent and Hong Kong's Hang Seng jumped 1.8 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The stock market put its big rally on hold Tuesday after disappointing earnings and economic reports reminded investors of the obstacles still facing the economy.

The Dow Jones industrial average fell 38 points after rising 208 Monday on brighter economic news. All the major indexes fell moderately.

Investors were unhappy with just about every major earnings or economic report Tuesday. Procter & Gamble Co. and Dow Chemical Co. reported earnings and revenue that fell short of forecasts. Consumer spending and income figures showed that people are still very cautious with their money. Factory orders fell in June, as did the number of homes that were under contract to be sold.


*The NYSE DOW closed LOWER -38.00 -0.36% on Tuesday August 3*
Sym. Last......... ........Change..........
Dow 10,636.38 -38.00 -0.36% 
Nasdaq 2,283.52 -11.84 -0.52% 
S&P 500 1,120.46 -5.40 -0.48% 
30-yr Bond 4.0460% -0.2100 

NYSE Volume 4,591,287,000 (prior day 4,829,248,000)
Nasdaq Volume 2,016,766,875  (prior day 1,974,891,750)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,396.48 -0.63 -0.01% 
DAX 6,307.91 +15.78 +0.25% 
CAC 40 3,747.51 -4.52 -0.12% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,694.01 +123.70 +1.29% 
Hang Seng 21,457.66 +44.87 +0.21% 
Straits Times 3,014.77 -10.27 -0.34% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=2&asset=&ccode=

Stocks fall after weak earnings, economic reports

Stocks fall moderately after disappointing earnings, consumer income and spending report 

Stephen Bernard and Dave Carpenter, AP Business Writers, On Tuesday August 3, 2010, 5:40 pm 

NEW YORK (AP) -- The stock market put its big rally on hold Tuesday after disappointing earnings and economic reports reminded investors of the obstacles still facing the economy.

The Dow Jones industrial average fell 38 points after rising 208 Monday on brighter economic news. All the major indexes fell moderately.

Investors were unhappy with just about every major earnings or economic report Tuesday. Procter & Gamble Co. and Dow Chemical Co. reported earnings and revenue that fell short of forecasts. Consumer spending and income figures showed that people are still very cautious with their money. Factory orders fell in June, as did the number of homes that were under contract to be sold.

The stream of bad news was a reminder that the recovery is going to be bumpy and slow. So, following the market's pattern of recent months, they gave back some of Monday's big gain, which was due in part to manufacturing news that was better than expected. Trading has been erratic since the spring amid the conflicting signals about the recovery, and many traders are quick to cash in any profits.

Traders are also uneasy ahead of the Labor Department's July employment report due out Friday. Consumers are not expected to significantly increase their spending until they feel more secure about their jobs.

Dan Cook, a Chicago-based senior market analyst with the brokerage firm IG Markets, said many traders stayed out of the market while they waited for the employment report.

"These severely choppy markets are scaring individual investors," he said. "There's no way we can get them back in the game without getting the employment numbers up."

The government is expected to report that employers cut 65,000 jobs last month, but that includes temporary census worker who were laid off. The unemployment rate is expected to have risen to 9.6 percent from June's 9.5 percent.

Investors are also uneasy about two other labor market reports this week. The payroll company ADP on Wednesday will release its count of the number of jobs created or lost at private employers in July. And on Thursday, the Labor Department issues its weekly report on the number of laid-off workers who filed for unemployment benefits for the first time.

The Dow fell 38.00, or 0.4 percent, to 10,636.38. The Standard & Poor's 500 index fell 5.40, or 0.5 percent, to 1,120.46, while the Nasdaq composite index fell 11.84, or 0.5 percent, to 2,283.52.

Losing stocks were ahead of gainers by 2 to 1 on the New York Stock Exchange, where consolidated volume came to a very light 4.1 billion shares, down from 4.2 billion on Monday. Light volume can intensify stocks' price swings.

Investors sought the safety of Treasury bonds, which pushed interest rates lower. Reports the Federal Reserve could start buying bonds again also added to their strength. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.92 percent from 2.97 percent late Monday.

Jack Stoltzfus, senior market strategist with Ticonderoga Securities, said the market is likely to vacillate for a while with investors hesitant to buy heavily amid ongoing concerns about the economy, not just in the U.S. but in other countries as well.

"It's a market that goes from worry to celebration pretty quickly," he said. "It is prone to surprises as well as prone to disappointments."

Procter & Gamble, the maker of Tide and Pampers, fell $2.12, or 3.4 percent, to $59.94. Dow Chemical dropped $2.83 or 10 percent, to $25.50.

Among the day's economic reports, the Commerce Department said personal income and spending were both unchanged in June after rising 0.3 percent and 0.1 percent respectively in May. The readings were also short of forecasts of economists polled by Thomson Reuters.

The department also said factory orders fell 1.2 percent in June, the second straight monthly drop and more than double the amount economists expected.

The National Association of Realtors said its index of pending home sales fell to its lowest level since it began keeping records in 2001. The index dropped 2.6 percent to a reading of 75.7. Economists had predicted that the index that measures the number of people who signed contracts to purchase homes would rise to 78.1.

A housing recovery is expected to be slow now that tax incentives for buyers have expired. And many would-be buyers are worried about their jobs.

Overseas, Britain's FTSE 100 fell less than 0.1 percent, Germany's DAX index rose 0.3 percent, and France's CAC-40 fell 0.1 percent. Japan's Nikkei stock average rose 1.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Reassuring signs on employment and growth in the service industry got the stock market back on an upward trajectory Wednesday.

Major indexes rose after payroll company ADP said private employers increased hiring last month and a service sector index rose unexpectedly in July. The Dow Jones industrial average gained 44 points.

Investors were relieved that the two reports provided no signs that the economy might be headed back into recession, even though growth might be sluggish. Traders have grappled with earnings and economic reports at odds with each other in recent weeks that provide a mixed picture about the pace of the recovery.

*The NYSE DOW closed HIGHER +44.05 +0.41% on Wednesday August 4*
Sym. Last......... ........Change..........
Dow 10,680.43 +44.05 +0.41% 
Nasdaq 2,303.57 +20.05 +0.88% 
S&P 500 1,127.24 +6.78 +0.61% 
30-yr Bond 4.0710% +0.2500 

NYSE Volume 4,583,274,500  (prior day 4,591,287,000)
Nasdaq Volume 2,044,558,000  (prior day 2,016,766,875)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,386.16 -10.32 -0.19% 
DAX 6,331.33 +23.42 +0.37% 
CAC 40 3,760.72 +8.69 +0.23% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,489.34 -204.67 -2.11% 
Hang Seng 21,549.88 +92.22 +0.43% 
Straits Times 3,001.87 -12.90 -0.43% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks rise on jobs, service sector growth

Stocks climb after private employers added 42,000 jobs in July; service industry expands *

Stephen Bernard, AP Business Writer, On Wednesday August 4, 2010, 5:40 pm 

NEW YORK (AP) -- Reassuring signs on employment and growth in the service industry got the stock market back on an upward trajectory Wednesday.

Major indexes rose after payroll company ADP said private employers increased hiring last month and a service sector index rose unexpectedly in July. The Dow Jones industrial average gained 44 points.

Investors were relieved that the two reports provided no signs that the economy might be headed back into recession, even though growth might be sluggish. Traders have grappled with earnings and economic reports at odds with each other in recent weeks that provide a mixed picture about the pace of the recovery.

The latest batch of earnings were largely better than expected, continuing a trend that has been seen over the past four weeks. Broadcaster CBS Corp., video game maker Electronic Arts Inc., online travel site Priceline.com Inc. and Anadarko Petroleum Corp. all climbed. Whole Foods Market Inc. was one of the few to report disappointing results.

The market has been mainly climbing over the past month on encouraging earnings and corporate profit forecasts. The Dow has gained 10.3 percent since closing at its lowest level of the year on July 2.

Despite the upbeat earnings and better-than-expected economic reports, many investors remain tentative ahead of the Labor Department's monthly employment report due on Friday. Quincy Krosby, Prudential Financial's market strategist, said the market needs much more than one positive report on private sector employment to gain confidence that the pace of recovery will speed up.

"ADP was positive, but when all is said and done, the market needs stronger confirmation to grind higher," Krosby said. Until then, stocks are likely to trade in a tight range, she said.

The Dow Jones industrial average rose 44.05, or 0.4 percent, to 10,680.43. The Standard & Poor's 500 index rose 6.78, or 0.6 percent, to 1,127.24, while the Nasdaq composite index rose 20.05, or 0.9 percent, to 2,303.57.

The Dow's rise Wednesday more than erased a 38-point loss from a day earlier when reports on personal income and spending and factory orders fell short of expectations.

Nearly three stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to a light 4.1 billion shares, comparable with the day before.

Trading volume has been unusually low in recent days, indicating that the few people actively participating in the market are mainly professional traders, said Bob Phillips, managing partner at Spectrum Management Group. Those types of investors typically trade quickly on the latest piece of news to be released, Phillips said. That adds to market volatility.

The confirmation investors are looking for in the jobs market could come in the next two days when the Labor Department releases its weekly report on initial claims for jobless benefits Thursday and its monthly employment report Friday.

Wednesday's ADP report is often seen as an early indicator of what the more important monthly jobs report from the Labor Department will look like. That report is broader and includes government as well as private sector employment. It's expected to show private employers added 90,000 jobs last month and the unemployment rate rose to 9.6 percent from 9.5 percent in June.

ADP said private employers added 42,000 jobs last month, slightly better the forecasts of economists polled by Thomson Reuters.

The ISM's service sector index rose to 54.3 in July from 53.8 in June. That's better than forecasts and indicates expansion for the largest component of the country's economy.

The ISM report was especially encouraging because the services sector accounts for the majority of employment in the country. It also comes two days after ISM's better-than-expected report on the manufacturing sector sparked big gains in the market.

Paul Zemsky, head of asset allocation at ING Investment Management, said economic reports are starting to fall more in line with expectations after regularly falling short of forecasts throughout the second quarter.

"The negative data we saw late in the second quarter caused people to lower their expectations," Zemsky said. The more modest expectations investors now have could give the market room to move higher, Zemsky said.

Investors sold Treasurys to move into stocks, sending interest rates in the bond market higher. The yield on the 10-year Treasury note, which moves opposite its price, rose to 2.96 percent from 2.92 percent late Tuesday. That yield helps set rates on mortgages and other consumer loans.

Priceline.com surged $50.63, or 22 percent, to $281.30. CBS rose 63 cents, or 4.2 percent, to $15.64. Electronic Arts jumped $1.20, or 7.4 percent, to $17.38, while Anadarko rose $2.28, or 4.3 percent, to $55.42. Whole Foods fell $3.33, or 8.4 percent, to $36.16.

Overseas, Japan's Nikkei stock average fell 2.1 percent. A stronger yen hurt Japanese exporters, driving down stocks prices. The yen hit a nine-month low against the dollar.

Britain's FTSE 100 fell 0.2 percent, Germany's DAX index rose 0.4 percent, and France's CAC-40 rose 0.4 percent.


----------



## bigdog

Source: http://finance.yahoo.com

A surprisingly poor signal on the jobs market sent stocks slightly lower Thursday as investors remained worried about a lack of hiring.

The modest drop came after the Labor Department said first-time claims for unemployment benefits rose unexpectedly last week.

Investors tried to muster a late-day rally, but there wasn't enough momentum to push the Dow Jones industrial average back into positive territory. The Dow closed down 5 points after dropping as much as 68 points earlier in the day. Broader indexes also fell modestly.

*The NYSE DOW closed LOWER +44.05 +0.41% on Thursday August 5*
Sym. Last......... ........Change..........
Dow	10,674.98	-5.45	-0.05%
Nasdaq	2,293.06	-10.51	-0.46%
S&P 500	1,125.81	-1.43	-0.13%
30-yr Bond	4.0650%	-0.0600

NYSE Volume	4,090,589,750  (prior day 4,583,274,500)
Nasdaq Volume	1,786,392,250 (prior day  2,044,558,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100	5,365.78	-20.38	-0.38%
DAX	6,333.58	+2.25	+0.04%
CAC 40	3,764.19	+3.47	+0.09%

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 	9,653.92 	+164.58 	+1.73%
Hang Seng 	21,551.72 	+1.84 	+0.01%
Straits Times 	3,007.34 	+5.47 	+0.18%

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks fall after spike in jobless benefits claims

Stocks drop after surprise jump in weekly first-time claims for unemployment benefits* 

 Stephen Bernard, AP Business Writer, On Thursday August 5, 2010, 4:30 pm

NEW YORK (AP) -- A surprisingly poor signal on the jobs market sent stocks slightly lower Thursday as investors remained worried about a lack of hiring.

The modest drop came after the Labor Department said first-time claims for unemployment benefits rose unexpectedly last week.

Investors tried to muster a late-day rally, but there wasn't enough momentum to push the Dow Jones industrial average back into positive territory. The Dow closed down 5 points after dropping as much as 68 points earlier in the day. Broader indexes also fell modestly.

Trading volume on the New York Stock Exchange fell to its second-lowest level of the year as many traders avoid the market altogether.

The Labor Department said initial claims for unemployment benefits jumped to 479,000 last week from a 460,000 a week earlier. Economists polled by Thomson Reuters had forecast new claims would fall modestly.

The high unemployment rate in the U.S. remains one of the biggest worries for investors. The surprise jump in claims last week suggests that employers are still reluctant to create jobs, which could keep a damper on economic growth the coming months.

"The trend is going exactly in the wrong direction," said Phil Orlando, chief equity market strategist at Federated Investors. However, Orlando cautioned that layoffs of temporary census workers might have skewed results somewhat, and that's why the market didn't fall that much.

Traders will get a stronger reading on the jobs market Friday when the government releases its closely watched monthly tally of payrolls and the unemployment rate. Investors have been getting mixed signals on the economy in recent weeks, and sent stocks higher on Wednesday after payroll company ADP reported that private employers slightly increased hiring last month.

In other news, monthly retail sales reports showed shoppers remain skittish about spending as hiring remains scarce. Costco Wholesale Corp. and Limited Brands Inc. both reported big jumps in July sales, but that was compared with weak results a year ago.

Department store J.C. Penney Co. reported a surprise drop in July sales and said profit would fall at the low end of its outlook. Teen retailers like The Buckle Inc. and The Wet Seal Inc. continue to struggle as consumers increase their savings rate.

"Without job creation, you can't get consumer confidence up and spending up," said Joe Gordon, founder and managing partner of Gordon Asset Management. "People are very cautious."

The Dow fell 5.45, or 0.1 percent, to 10,674.98. The Standard & Poor's 500 index fell 1.43, or 0.1 percent, to 1,125.81, while the Nasdaq composite index fell 10.51, or 0.5 percent, to 2,293.06.

About four stocks fell for every three that rose on the New York Stock Exchange, where volume came to 875.6 million shares, only about two-thirds the average of 1.34 billion traded daily over the past 200 days.

Thursday's jobless claims report added to a murky picture on the economy heading into the monthly employment survey. The Labor Department is expected to say private employers hired 90,000 workers in July, a slight increase from the 83,000 hired in June. But because of government layoffs tied to cutting temporary census jobs, the unemployment rate is expected to rise to 9.6 percent from 9.5 percent.

Tim Speiss, chairman of Eisner LLP's Personal Wealth Advisors practice, said Friday's report doesn't have blow away expectations to reassure investors and ease concerns about slowing growth.

"Coming close to expectations will be sufficient," Speiss said.

Stocks have alternated between gains and losses all week as economic reports vacillate between topping expectations and falling short of forecasts.

Limited Brands rose 29 cents to $26.33, while Costco shares fell 94 cents to $56.46. J.C. Penney dropped $1.84, or 7.7 percent, to $22.12. Wet Seal dipped a penny to $3.32 and The Buckle fell $1.10, or 4 percent, to $26.11.

Bond prices climbed as investors opted for the safety of Treasurys. The yield on the 10-year Treasury note, which moves opposite to its price, fell to 2.91 percent from 2.96 percent late Wednesday. Its yield helps set interest rates on mortgages and other consumer loans.

Treasury yields are hovering near levels not seen since April 2009 when the stock market was just beginning a yearlong rally after touching 12-year lows.

Overseas, Britain's FTSE 100 fell 0.4 percent, Germany's DAX index rose less than 0.1 percent, and France's CAC-40 rose 0.1 percent. Japan's Nikkei stock average rose 1.7 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow ended up 187.62 or 1.79% for the week, logging 3-consecutive weeks of gains

The S&P 500 ended up 24.04 or 1.82% for the week, its first weekly increase since 7/23 when it rose 3.55%

The NASDAQ Composite ended up 33.77 or 1.5% for the week, its first weekly increase since 7/23 when it rose 4.15%

Safety first. That appears to be the new motto for investors trying to figure out how bad the emerging slowdown in U.S. economic growth is going to be.

A disappointing jobs report sent investors out of stocks and the dollar Friday and into assets perceived as being safer. Foreign currencies and gold rose, as did bond prices, which sent interest rates lower. The yield on the two-year Treasury note hit a record low.

Stocks sank for most of the day but pared their losses in late afternoon trading. The Dow Jones industrials ended down 21 points after being down as much as 160 earlier in the day.

*The NYSE DOW closed LOWER -21.42 -0.20% on Friday August 6*
Sym. Last......... ........Change..........
Dow 10,653.56 -21.42 -0.20% 
Nasdaq 2,288.47 -4.59 -0.20% 
S&P 500 1,121.64 -4.17 -0.37% 
30-yr Bond 4.0020% -0.6300 

NYSE Volume 4,456,732,000  (prior day 4,090,589,750)
Nasdaq Volume 1,883,897,875 (prior day  1,786,392,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,332.39 -33.39 -0.62% 
DAX 6,259.63 -73.95 -1.17% 
CAC 40 3,716.05 -48.14 -1.28% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,642.12 -11.80 -0.12% 
Hang Seng 21,678.80 +127.08 +0.59% 
Straits Times 2,995.06 -11.70 -0.39% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks, dollar fall after weak US jobs report

Stocks and dollar tumble as weak employment report worsens US outlook; Treasurys gain *

Stephen Bernard, AP Business Writer, On Friday August 6, 2010, 5:44 pm EDT

NEW YORK (AP) -- Safety first. That appears to be the new motto for investors trying to figure out how bad the emerging slowdown in U.S. economic growth is going to be.

A disappointing jobs report sent investors out of stocks and the dollar Friday and into assets perceived as being safer. Foreign currencies and gold rose, as did bond prices, which sent interest rates lower. The yield on the two-year Treasury note hit a record low.

Stocks sank for most of the day but pared their losses in late afternoon trading. The Dow Jones industrials ended down 21 points after being down as much as 160 earlier in the day.

A closely watched monthly employment survey from the Labor Department confirmed what investors have been fearing: The U.S. economic recovery is weakening. Private job growth was just 71,000 in July. That's below what analysts had hoped for and far shy of the level that would be needed to reduce the unemployment rate, which remained steady at 9.5 percent.

It was latest sign that a slowdown in U.S. growth is the real problem with the global economy, not the European debt crisis that had financial markets in a tizzy for much of the spring.

U.S. stocks fell on the report, sapping a strong upward trend from the past four weeks. The yield on the two-year Treasury reached a record low of 0.50 percent, and the yield on the 10-year Treasury is at its lowest level since April 2009. The dollar dropped to a 15-year low against the Japanese yen.

Stocks have been volatile since reaching their highest level of the year in late April. They turned lower throughout May and part of June as worries about Europe's debt situation peaked. In July, a wave of strong earnings from major U.S. companies like Caterpillar Inc. and UPS Inc. propelled stocks higher. The Dow Jones industrial average climbed 7.1 percent last month, its strongest one-month gain in a year.

It's not yet clear whether Friday's downturn was a sign of more trouble to come or just a temporary setback on a generally upward trajectory for the market. If stocks are going to get more fuel to advance, they will have to get it from someplace other than earnings since the corporate reporting season is winding down. That leaves the focus on the economy, and the news there has been discouraging. Housing, retail sales, personal income and now jobs reports have all been downbeat.

The monthly jobs report from the Labor Department is a key indicator on the health of the economy and is closely watched by investors and economists. Job creation has a huge effect on the rest of the economy, influencing how much people spend on cars, clothes, travel and even homes. The latest report confirmed that many employers are still reluctant to hire.

"The tension will play out for the rest of the year between corporate earnings and employment," said Sarah Hunt, a research analyst at Alpine Funds. At some point, Hunt said, earnings will have to slow to match the weaker economy or employment will have to pick up to help maintain strong earnings.

On top of that, Europe's economy is showing stronger signs of life than was expected just a few months ago, when mounting government debt there was hurting stocks worldwide. A healthier Europe gives investors another place to stash money if the U.S. economy remains weak.

The euro has recovered nearly all of its losses from the worries over European government debt that flared up earlier this year. The euro is now at a four-month high against the dollar, after touching a four-year low in early June.

The Dow Jones industrial average closed down 21.42 points, or 0.2 percent, at 10,653.56, having been down as much as 160 points earlier.

The Standard & Poor's 500 index fell 4.17, or 0.4 percent, to 1,121.64, while the Nasdaq composite index fell 4.59, or 0.2 percent, to 2,288.47.

Five stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume came to a very light 3.9 billion shares. Trading volume has been extremely low in recent days, a sign that many investors are simply not participating in the market.

While stocks take a turn lower, bond investors have already been anticipating that the economy was headed for trouble. Even while the stock market was surging ahead in early June and then again for most of July, yields on Treasury notes have been heading steadily lower since early April as more money flows into ultrasafe Treasurys.

Michael Strauss, chief economist and market strategist at Commonfund, said investors in the bond and stock markets are lining up on opposite sides of debate about the strength of the economy.

"The bond market is still betting this is a double-dip" Strauss said, referring to the term for two recessions occurring close to each other. "The stock market is betting this is a soft landing," with just modest growth of about 2 percent to 3 percent over the next few quarters, he said.

The yield on the 10-year note, which helps set interest rates on mortgages and other consumer loans, fell to 2.82 percent from 2.91 percent late Thursday. That puts it in the range last reached in April 2009 when the stock market was just beginning to bounce back from a 12-year low.

The latest sign of weakness in the labor market brought heightened attention to the Federal Reserve's meeting next week. The Fed let several economic stimulus programs expire earlier this year such as purchasing mortgage-backed securities, and investors are now wondering whether the central bank will consider new steps to encourage lending again.

Stephen Wood, chief market strategist for Russell Investments, said the market is already pricing in the expectation the Fed will start buying Treasury bonds. Exactly when that happens, though, is still uncertain.

"I don't think they're going to pull the trigger" next week, Wood said. "But they're going to make it crystal clear if data deteriorates they're ready to pull the trigger."

Gold, which often moves in the opposite direction of the dollar, rose $6 to $1,205.30 an ounce. It's the first time gold prices have closed above $1,200 since July 15.


----------



## bigdog

Source: http://finance.yahoo.com

Investors are getting optimistic that the Federal Reserve will restart some of its economic stimulus programs.

Stocks closed moderately higher Monday, a sign that many traders expect the Fed to take steps to put some energy back into the recovery. The Dow Jones industrial average rose 45 points.

Volume on the New York Stock Exchange fell to its lowest level of the year as many investors stayed out of the market while they waited for the Fed's decision. Many have been avoiding big investment decisions for much of the summer because they have no sense of where the economy is headed.

*The NYSE DOW closed HIGHER +45.19 points +0.42% on Monday August 9*
Sym. Last......... ........Change..........
Dow 10,698.75 +45.19 +0.42% 
Nasdaq 2,305.69 +17.22 +0.75% 
S&P 500 1,127.79 +6.15 +0.55% 
30-yr Bond 4.0070% +0.0500 

NYSE Volume 3,597,500,000  (prior day 4,456,732,000)
Nasdaq Volume 1,635,405,000  (prior day 1,883,897,875)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,410.52 +78.13 +1.47% 
DAX 6,351.60 +91.97 +1.47% 
CAC 40 3,777.37 +61.32 +1.65% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,572.49 -69.63 -0.72% 
Hang Seng 21,801.59 +122.79 +0.57% 
Straits Times 2,995.06 -11.70 -0.39% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Stocks rise as investors await Fed meeting outcome

Stocks rise moderately as investors wait to see if Fed will restart economic stimulus programs* 

Stephen Bernard, AP Business Writer, On Monday August 9, 2010, 5:39 pm 

NEW YORK (AP) -- Investors are getting optimistic that the Federal Reserve will restart some of its economic stimulus programs.

Stocks closed moderately higher Monday, a sign that many traders expect the Fed to take steps to put some energy back into the recovery. The Dow Jones industrial average rose 45 points.

Volume on the New York Stock Exchange fell to its lowest level of the year as many investors stayed out of the market while they waited for the Fed's decision. Many have been avoiding big investment decisions for much of the summer because they have no sense of where the economy is headed.

The Fed's assessment of the economy, and any plans to resume its stimulus measures, will be issued after its meeting ends Tuesday afternoon.

"The market loves stimulus. The market wants stimulus," said Joe Saluzzi, co-head of equity trading at Themis Trading LLC in Chatham, N.J.

The Fed will likely leave its federal funds rate near zero, but the central bank could signal plans to restart some programs such as its purchase of mortgage-backed securities or buy Treasury bonds. The central bank's programs ended earlier this year when it appeared the recovery was proceeding well.

"The Fed has a lot of tools in its tool shed," said Larry Rosenthal, president of Financial Planning Services in Manassas, Va. "They have to bring buyers back into the market; they have to bring consumption back into the market."

The recovery has stalled as consumers, watching the labor market stagnate, have been reluctant to spend. Meanwhile, bank lending levels have remained low, the result of caution on the part of borrowers as well as bankers.

Still, Rosenthal said any moves would also have to ensure that inflation doesn't become a problem too quickly. The Fed could say Tuesday that it is ready to start new programs to encourage bank lending even if it doesn't implement them immediately.

Hewlett-Packard Co. shares managed a small gain after its CEO was forced to resign Friday.

The Dow rose 45.19, or 0.4 percent, to 10,698.75. The Standard & Poor's 500 index rose 6.15, or 0.6 percent, to 1,127.79, and the Nasdaq composite index rose 17.22, or 0.8 percent, to 2,305.69.

Advancing stocks were ahead of losers by almost 3 to 1 on New York Stock Exchange, where consolidated volume, which includes shares traded on other exchanges, came in at 3.3 billion shares. On Friday, volume was an already extremely light 3.9 billion shares.

Bond prices traded in a narrow range Monday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.83 percent from 2.82 percent late Friday.

Hank Smith, chief investment officer at Haverford Investments in Radnor, Pa., said the Fed has to be careful with how it phrases its assessment of the economy and any plans to restart stimulus programs. While investors know that the economy is weaker than it was earlier this year, bad news from the Fed could lead to further problems, starting with a drop in the stock market.

"It might be a self-fulfilling prophecy," Smith said.

European markets jumped after German exports reached their highest levels since late 2008, indicating the country's economy is recovering much faster than previously thought. There were concerns this spring that mounting government debt in countries like Greece, Spain and Portugal would stagnate Europe's economy. The German exports report was the latest data from the continent that showed the pace of growth is speeding up rather than slowing down.

Germany's DAX index gained 1.5 percent, Britain's FTSE 100 rose 1.5 percent, and France's CAC-40 rose 1.7 percent. Japan's Nikkei stock average fell 0.7 percent.

Hewlett-Packard CEO Mark Hurd was forced to resign after a sexual harassment claim led to the discovery he falsified expense reports. HP shares rose 8 cents to $40.70 after falling sharply in early trading.

McDonald's Corp. rose after it reported strong July sales, including its biggest jump in U.S. sales in more than a year. The stock rose $1.18 to $72.92.


----------



## bigdog

Source: http://finance.yahoo.com

The stock market had a half-hearted comeback Tuesday after the Federal Reserve announced it would take small steps to stimulate the economy.

The Dow Jones industrial average, down about 100 points before the Fed announced its plans, recovered to a loss of 54. The other major market indexes also bounced off of their lows. But investors were still cautious: The Dow was able to briefly show a gain, but fell back again as traders recognized that the Fed's moves, while welcome, would be small and won't cure the economy's problems.

Losing stocks were ahead of advancers on the New York Stock Exchange by almost 3 to 1. And stocks considered safe bets in a weak economy, including health care and consumer products companies, were among the gainers.

*The NYSE DOW closed LOWER -54.50 points -0.51% on Tuesday August 10*
Sym. Last......... ........Change..........
Dow 10,644.25 -54.50 -0.51% 
Nasdaq 2,277.17 -28.52 -1.24% 
S&P 500 1,121.06 -6.73 -0.60% 
30-yr Bond 4.0300% +0.2300 

NYSE Volume 4,550,863,000  (prior day 3,597,500,000)
Nasdaq Volume 2,056,754,250 (prior day  1,635,405,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,376.41 -34.11 -0.63% 
DAX 6,286.25 -65.35 -1.03% 
CAC 40 3,730.58 -46.79 -1.24% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,551.05 -21.44 -0.22% 
Hang Seng 21,473.60 -327.99 -1.50% 
Straits Times 2,984.29 -10.77 -0.36% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks cut losses on Fed's economic stimulus plans

Stocks cut losses after Fed announces plans to buy government debt to stimulate economy *

Stephen Bernard, AP Business Writer, On Tuesday August 10, 2010, 5:59 pm

NEW YORK (AP) -- The stock market had a half-hearted comeback Tuesday after the Federal Reserve announced it would take small steps to stimulate the economy.

The Dow Jones industrial average, down about 100 points before the Fed announced its plans, recovered to a loss of 54. The other major market indexes also bounced off of their lows. But investors were still cautious: The Dow was able to briefly show a gain, but fell back again as traders recognized that the Fed's moves, while welcome, would be small and won't cure the economy's problems.

Losing stocks were ahead of advancers on the New York Stock Exchange by almost 3 to 1. And stocks considered safe bets in a weak economy, including health care and consumer products companies, were among the gainers.

The Fed, in a statement issued after a one-day policy meeting, said it will use money from its investments in mortgage securities to buy government debt on a small scale. Because rates on bonds and other debt fall as their prices rise, the Fed's purchases should help send long term rates on mortgages and corporate debt slightly lower. And the Fed hopes, stimulate lending to consumers and businesses.

News that the Fed would be buying government debt, and in the process reduce the supply of Treasury issues on the market, sent Treasurys higher. The yield on the government's 10-year note, which moves in the opposite direction from its price, fell to 2.75 percent from 2.82 percent before the announcement. The yield is used to help set rates on mortgages and other consumer loans.

Analysts said that while investors were hoping the Fed would take some steps to help the economy, the market recognizes the limitations of the central bank's plans.

"We had an hour or so of rally, but then it backed off a bit," said Dan Cook, Chicago-based senior market analyst with brokerage firm IG Markets. "Traders realized it's not a game changer. It's not going to pump up the market."

The purchases of debt the Fed plans are known as "quantitative easing." Economists estimate that the Fed will have about $10 billion a month to buy the debt. That is a small amount of money compared to the economy's needs.

The Fed said it would use the proceeds it earns on mortgage bonds to buy two-year and 10-year Treasurys, and that it would buy an equal amount of government debt as existing bonds mature. The net effect is to keep its $2.3 trillion balance sheet steady, while shifting its holdings into more government debt. The Fed had hoped to roll back its debt holdings as the economy improved.

In 2009 and early 2010, the Fed bought $1.25 trillion in mortgage securities, $175 billion in mortgage debt from Fannie Mae and Freddie Mac, and $300 billion in government debt. In March, the Fed stopped buying new mortgage securities and Fannie and Freddie debt because the economy was clearly recovering.

Some analysts said the Fed is moving slowly in its current stimulus plans so investors don't get the sense that the economy is more troubled than they have thought.

"There is only so much the Fed can do and right now it wanted to take baby steps in trying to provide additional liquidity without roiling the markets and scaring investors," Michael Sheldon, chief market strategist at RDM Financial Group in Westport, Conn.

And some analysts are skeptical. Cook of IG Markets said that even if the Fed starts adding to its holdings of government debt, that would do little to boost the recovery. He noted that the Fed's purchases last year pushed interest rates lower and fed the stock market's big rally. But it didn't lead to more loans for small businesses, a big source of new jobs.

"They can continue to buy Treasurys to keep borrowing costs down. But if the people who need credit don't get it, it's like knocking $50,000 off a Lamborghini. You're still not going to be able to afford it," Cook said.

The Dow closed down 54.50, or 0.5 percent, at 10,644.25 after the Fed's mid-afternoon statement. The Standard & Poor's 500 index fell 6.73, or 0.6 percent, to 1,121.06. The Nasdaq composite index closed down 28.52, or 1.2 percent, at 2,277.17.

NYSE consolidated volume, which includes shares traded on other exchanges, came to a light 4 billion shares, up from 3.3 billion Monday. Volume has been light all summer because investors don't feel secure about the economy or the market. And the Fed's move didn't change their view.

Stock and bond investors looked past the Fed's assessment of the economy that was included in the statement although it was bleaker than the central bank's view in June. The Fed said, "the pace of economic recovery is likely to be more modest in the near term than had been anticipated."

The dollar, which is hurt by a weak economy, fell after the Fed statement was released. The Fed indicated that interest rates will remain at extremely low levels for an extended period. And currencies tend to fall on low rates.

Stocks that traders call defensive, or that are expected to hold up even in a weak economy, were the market's best performers after the Fed decision. That was another sign that investors weren't euphoric about the Fed's moves.

Health care stocks were among the market leaders. Merck & Co. rose 41 cents, or 1.2 percent, to $35.77. Eli Lilly & Co. rose 81 cents, or 2.2 percent, to $37.77.

Consumer products makers also rose. Colgate Palmolive rose $1.70, or 2.2 percent, to $77.97, while Procter & Gamble Co. rose 40 cents, or 0.7 percent, to $60.78.

Overseas, Hong Kong's Hang Seng index fell 1.5 percent, while Japan's Nikkei stock average fell 0.2 percent. Britain's FTSE 100 fell 0.6 percent, Germany's DAX index dropped 1 percent, and France's CAC-40 fell 1.2 percent. All the markets were closed before the Fed announcement.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks and interest rates fell sharply Wednesday as more bad news chipped away at investors' view of the economy.

The Dow Jones industrial average fell 265 points and all the major indexes fell more than 2 percent. The Dow has now fallen four days out of five, and it has lost almost 320 points in just the past two days. Meanwhile, the yield on the Treasury's 10-year note fell to its lowest level since March 2009 as investors avoided stocks and sought the safety of government securities.

Only 442 stocks rose on the New York Stock Exchange, while 2,627 fell, a sign that investors expect all businesses to suffer if the economy continues to weaken.

Investors' gloom deepened a day after the Federal Reserve said it would begin buying government bonds as a way to stimulate the economy. News of slower industrial growth in China and a disappointing economic indicator in Japan helped send stocks plunging first in Asia, then in Europe.

*The NYSE DOW closed LOWER -265.42 points -2.49% on Wednesday August 11*
Sym. Last......... ........Change..........
Dow 10,378.83 -265.42 -2.49% 
Nasdaq 2,208.63 -68.54 -3.01% 
S&P 500 1,089.47 -31.59 -2.82% 
30-yr Bond 3.9210% -1.0900 

NYSE Volume 5,281,288,000  (prior day 4,550,863,000)
Nasdaq Volume 2,319,323,000  (prior day 2,056,754,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,245.21 -131.20 -2.44% 
DAX 6,154.07 -132.18 -2.10% 
CAC 40 3,628.29 -102.29 -2.74% 

*Asia*
Symbol...... Last...... .....Change
Nikkei 225 9,292.85 -258.20 -2.70% 
Hang Seng 21,294.54 -179.06 -0.83% 
Straits Times 2,949.26 -35.03 -1.17% 

http://finance.yahoo.com/news/Stocks-fall-sharply-as-apf-3511699678.html?x=0

*Stocks fall sharply as investors' gloom grows

Stocks, interest rates fall sharply as investors' gloom about the weakening economy grows *

Stephen Bernard, AP Business Writer, On Wednesday August 11, 2010, 5:56 pm 

NEW YORK (AP) -- Stocks and interest rates fell sharply Wednesday as more bad news chipped away at investors' view of the economy.

The Dow Jones industrial average fell 265 points and all the major indexes fell more than 2 percent. The Dow has now fallen four days out of five, and it has lost almost 320 points in just the past two days. Meanwhile, the yield on the Treasury's 10-year note fell to its lowest level since March 2009 as investors avoided stocks and sought the safety of government securities.

Only 442 stocks rose on the New York Stock Exchange, while 2,627 fell, a sign that investors expect all businesses to suffer if the economy continues to weaken.

Investors' gloom deepened a day after the Federal Reserve said it would begin buying government bonds as a way to stimulate the economy. News of slower industrial growth in China and a disappointing economic indicator in Japan helped send stocks plunging first in Asia, then in Europe.

The economic news in the U.S. was also troubling. The Commerce Department said the trade deficit widened in June to its highest level in 20 months as exports dipped. Falling exports mean U.S. manufacturing could be slowing down. And early this year, manufacturing showed the most consistent signs of recovery.

Investors got more bad news after trading ended. Cisco Systems Inc.'s revenue in the company's latest quarter fell short of analysts' expectations. Companies' revenue shortfalls have sent stocks falling over the past month, and Cisco's stock slid 8 percent in after-hours trading. Other stocks fell as well, and the report was likely to touch off more selling across the market on Thursday.

Stock traders tend to buy and sell based on their expectations for what business will be like in six to nine months. The problem is that economic data has been so muddled lately that investors have no sense of whether the recovery will hold. In its economic assessment statement on Tuesday, the Fed was still talking about a recovery, although the central bank said it would more modest than forecast in June.

"Uncertainty, uncertainty, uncertainty," was the way that Javier Perez-Santalla, managing director for futures and foreign exchange at the institutional brokerage firm Dinosaur Group, described the mood in the market.

"Everyone is scratching their heads, saying 'which way?'" Perez-Santalla said. "We're kind of stuck in this no man's land, where we're damned if we do, damned if we don't."

The Fed said Tuesday it will start buying government bonds with money it gets from the maturing mortgage-backed bonds that it bought during the recession. The goal is to try to cut interest rates on mortgages and corporate loans and in turn increase lending and help the economy grow faster.

But the Fed's moves were expected to be quite small in comparison to what the economy needs. And many investors were selling because the debt purchases would have only a limited impact on the economy.

The Dow dropped 265.42, or 2.5 percent, to 10,378.83, its largest slide since it fell 268.22 on June 29.

The Standard & Poor's 500 index fell 31.59, or 2.8 percent, to 1,089.47. The S&P 500 slipped below 1,100, a key psychological level. Falling and holding below that level could lead to more selling as computer-driven trading sets in.

The Nasdaq composite index fell 68.54, or 3 percent, to 2,208.63. The Nasdaq tends to have the biggest losses when stocks are falling sharply because many of its component companies are smaller businesses that struggle the most in a weak economy.

Consolidated volume was fairly light on the NYSE at 4.6 billion shares, up from Tuesday's 4 billion. Trading has been particularly slow, even by summer standards as uncertainty about the economy led many investors to exit the market completely. Low volume also can exaggerate swings in the market.

The Chicago Board Options Exchange's Volatility Index rose 3.02, or 13.5 percent, to 25.39. The VIX is known as the market's fear gauge because a rise signals traders are expecting more drops in stocks. It is still well below the record of 89.5 it reached during the height of the financial crisis in 2008.

The yield on the 10-year Treasury note, which moves opposite its price, fell as low as 2.68 percent before edging up to 2.69 percent late Wednesday. That was down sharply from late Tuesday's 2.77 percent. Interest rates are often set based on the yield of 10-year Treasurys.

The 10-year yield is at levels not touched since late March 2009 just weeks after recession worries sent the stock market to a 12-year low. Investors were willing to take a lower return from Treasurys in exchange for the safety of government debt.

Ryan Detrick, senior technical strategist at Schaeffer's Investment Research in Cincinnati, described the bond market as "saying major problems are still out there."

Britain's FTSE 100 fell 2.4 percent, Germany's DAX index dropped 2.1 percent, and France's CAC-40 fell 2.7 percent. Japan's Nikkei stock average dropped 2.7 percent.

Although recent earnings report were overall strong, the market has been rattled when companies' revenue has fallen short of expectations. Their concern is that companies are selling less because consumers aren't buying.

Cisco's revenue was slightly off of forecasts, but that was enough to send the company's stock down $1.90, or 8 percent, to $21.83 in after-hours trading. During regular trading, it was down 58 cents.

Stocks will struggle to rally further until some of the uncertainty is removed about the strength of the economy and how government policy could affect companies, said Duncan Richardson, chief equity investment officer of Eaton Vance.

"What's lacking is confidence and no one can have confidence in an uncertain world," Richardson said. There has been a "huge reluctance to reinvest in businesses because of uncertainty."

Companies are hesitant to hire new workers, buy new equipment or acquire new businesses to grow operations until there is more confidence, he said.


----------



## bigdog

Source: http://finance.yahoo.com

Technology companies led the stock market to its third straight loss Thursday after an earnings report from Cisco Systems raised more questions about the economy.

A weekly employment report that was weaker than expected also made investors uneasy about the strength of the economic recovery. The Dow Jones industrial average fell 58 points and now has an almost 380-point loss the past three days. The Dow has also fallen five of the last six days. The Nasdaq composite index had a steeper loss in percentage terms, a reflection of the drop in tech stocks.

Cisco Systems Inc. released earnings after the market closed Wednesday. Cisco is seen by many traders and analysts as an indicator of the economy's health, and it disappointed investors in several ways. The computer networking company's revenue for its fiscal fourth quarter and forecast for revenue fell short of analysts' expectations. Investors are focused on the connection between revenue and the economy. If revenue is weak, that could be a sign that consumers are reluctant to spend and could start to affect companies' profits.

*The NYSE DOW closed LOWER  -58.88 points -0.57% on Thursday August 12*
Sym. Last......... ........Change..........
Dow 10,319.95 -58.88 -0.57% 
Nasdaq 2,190.27 -18.36 -0.83% 
S&P 500 1,083.61 -5.86 -0.54% 
30-yr Bond 3.9310% +0.1000 

NYSE Volume 4,563,876,000  (prior day 5,281,288,000)
Nasdaq Volume 2,211,513,250  (prior day 2,319,323,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,266.06 +20.85 +0.40% 
DAX 6,135.17 -18.90 -0.31% 
CAC 40 3,621.07 -7.22 -0.20% 

*Asia*
Symbol...... Last...... .....Change
Nikkei 225 9,212.59 -80.26 -0.86% 
Hang Seng 21,105.71 -188.83 -0.89% 
Straits Times 2,927.04 -22.22 -0.75% 

http://finance.yahoo.com/news/Stocks-fall-after-Cisco-apf-4294131936.html?x=0

*Stocks fall after Cisco earnings, jobless data

Stocks extend losses after disappointing unemployment data, revenue figures from Cisco *

Joyce M. Rosenberg, AP Business Writer, On Thursday August 12, 2010, 4:54 pm EDT 

NEW YORK (AP) -- Technology companies led the stock market to its third straight loss Thursday after an earnings report from Cisco Systems raised more questions about the economy.

A weekly employment report that was weaker than expected also made investors uneasy about the strength of the economic recovery. The Dow Jones industrial average fell 58 points and now has an almost 380-point loss the past three days. The Dow has also fallen five of the last six days. The Nasdaq composite index had a steeper loss in percentage terms, a reflection of the drop in tech stocks.

Cisco Systems Inc. released earnings after the market closed Wednesday. Cisco is seen by many traders and analysts as an indicator of the economy's health, and it disappointed investors in several ways. The computer networking company's revenue for its fiscal fourth quarter and forecast for revenue fell short of analysts' expectations. Investors are focused on the connection between revenue and the economy. If revenue is weak, that could be a sign that consumers are reluctant to spend and could start to affect companies' profits.

The timing of Cisco's report was also troubling. Craig Peckham, a market strategist at Jefferies & Co., noted that Cisco's quarter ended in July, a month later than most at companies, so it gives investors a first look at how businesses are doing in the July-September period.

Peckham said investors also reacted to comments by Cisco CEO John Chambers, who said late Wednesday, "We think the words 'unusual uncertainty' are an accurate description of what's occurring" in the economy. Chambers echoed the words chosen by Federal Reserve Chairman Ben Bernanke last month.

Technology stocks were the worst performer Thursday among the nine sectors that make up the Standard & Poor's 500 index. The tech sector fell 1.15 percent. Cisco was down 10 percent. Microsoft Corp. was down 1.5 percent, and Oracle Corp. fell 3 percent.

Other big stocks seen as vulnerable in a weak economy also fell. Shipper FedEx Corp. lost 1.4 percent and heavy equipment maker Caterpillar Inc. fell 1.8 percent. Health care companies, called defensive stocks because they are likely to do well in a weak economy, were among the day's winners.

Investors have generally been selling since the stock market reached its 2010 peak in late April because they don't have a sense of whether the recovery will hold. Some fear that the economy will fall back into recession because of high unemployment and weak consumer spending. They cite a long string of weak economic reports and revenue disappointments like Cisco's as reasons for their pessimism. And earlier this week, the Fed said the recovery had slowed and it would buy government notes and bonds in hopes of stimulating lending and the economy as a whole.

The uncertainty has kept many traders out of the market in July and August, months when trading volume is already down because of vacations. Analysts say low volume has exaggerated price changes.

The Dow fell 58.88, or 0.6 percent, to 10,319.95. The average has lost 360 points over the past six days.

The Standard & Poor's 500 index fell 5.86, or 0.5 percent, to 1,083.61. The Nasdaq composite index fell 18.36, or 0.8 percent, to 2,190.27.

Losing stocks were ahead of gainers by about 2 to 1 on the New York Stock Exchange, where volume came to 1 billion shares.

Interest rates rose in the Treasury market after falling sharply Wednesday, when investors were seeking the safety of government securities. The yield on the 10-year Treasury note, which rises as its price falls, was 2.75 percent, up from late Wednesday's 2.69 percent.

The Labor Department said that the number of people filing for unemployment benefits for the first time rose last week to 484,000. The gain was small at 2,000, but economists had expected the number to drop. The news pointed to continuing weakness in the labor market, yet another sign that the economic recovery is slowing.

Charlie Smith, chief investment officer with Fort Pitt Capital Group in Pittsburgh, predicted few major market moves for the rest of the month because so many traders are away.

Smith also said the market's drop over the past few months was due more to a negative outlook by investors rather than a fundamental change in the economy.

"We had a weak recovery back in March and April," Smith said. At that point, the market was moving toward its highest level since the financial crisis struck in September 2008. Stocks began falling after the major indexes peaked in late April.

Markets in Europe fell Thursday after the U.S. unemployment news, then regained ground. In London, the FTSE-100 index was up 0.4 percent. Germany's DAX index was down 0.3 percent, while the CAC-40 index in Paris was down 0.2 percent. Earlier, Japan's Nikkei index closed down 0.9 percent.

There were disappointments among Thursday's earnings reports. Sara Lee Corp.'s revenue missed analysts' forecasts. And retailer Kohl's Corp. disappointed the market by lowering its earnings outlook because it expects sales to slow during the second half of the year. That period includes the holiday season, when retailers make a large part of their profits.

Sara Lee fell 10 cents, or 0.7 percent, to $14.37. Kohl's fell $1.28, or 2.7 percent, to $46.50.

In other earnings news, General Motors Co. reported net income of $1.33 billion in the April-June quarter, its second straight quarterly profit. The company, which is 61 percent owned by the federal government, is moving toward a public offering of its shares. The company also had a surprise announcement. CEO Ed Whitacre will step down Sept. 1 and be replaced by GM board member Daniel Akerson, head of the global buyout unit of The Carlyle Group, a private equity firm.

Cisco fell $2.37, or 10 percent, to $21.36. Microsoft was off 37 cents, or 1.5 percent, at $24.49. And Oracle dropped 72 cents, or 3 percent, to $22.94

Caterpillar fell $1.21, or 1.8 percent, to $67.50, while FedEx fell $1.19, or 1.4 percent, to $81.94.


----------



## bigdog

Source: http://finance.yahoo.com

The major indexes' performance for the week shows how turbulent the market has been. The Dow is down 3.3 percent, while the S&P 500 is off 3.8 percent. The Nasdaq composite index had the steepest drop, 5 percent, in part because of a cautious economic outlook from Cisco Systems Inc.'s CEO, John Chambers. He echoed the words used last month by Federal Reserve Chairman Ben Bernanke, who called the outlook for the recovery "unusually uncertain." Cisco, which makes networking equipment, is seen as an economic bellwether.

Stocks extended their losing streak to four days Friday after a mixed batch of readings on consumers further muddled investors' sense of the economy.

The major stock indexes fluctuated throughout the day before closing slightly lower. The Dow Jones industrial average fell nearly 17 points and has now lost almost 400 over four days. It was a typically slow summer Friday, but only partly due to vacations. Traders who were working had little reason to make any major moves because of economic data that remains confusing.

One of the biggest obstacles to a strong economic recovery is weak consumer spending. Friday's reports about consumers' attitudes and spending didn't point to a shopping rebound anytime soon.

*The NYSE DOW closed LOWER  -16.80 points -0.16% on Friday August 13*
Sym. Last......... ........Change..........
Dow 10,303.15 -16.80 -0.16% 
Nasdaq 2,173.48 -16.79 -0.77% 
S&P 500 1,079.25 -4.36 -0.40% 
30-yr Bond 3.8700% -0.6100 

NYSE Volume 3,819,334,750  (prior day 4,563,876,000)
Nasdaq Volume 1,623,953,000 (prior day  2,211,513,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,275.44 +9.38 +0.18% 
DAX 6,110.41 -24.76 -0.40% 
CAC 40 3,610.91 -10.16 -0.28% 

*Asia*
Symbol...... Last...... .....Change
Nikkei 225 9,253.46 +40.87 +0.44% 
Hang Seng 21,071.57 -34.14 -0.16% 
Straits Times 2,939.97 +12.93 +0.44% 

http://finance.yahoo.com/news/Stocks-fluctuate-after-retail-apf-1555068206.html?x=0

*Stocks fall for 4th day after retail sales report

Stocks fall for 4th day after July retail sales report falls below economists' expectations *

Joyce M. Rosenberg, AP Business Writer, On Friday August 13, 2010, 5:54 pm EDT 

NEW YORK (AP) -- Stocks extended their losing streak to four days Friday after a mixed batch of readings on consumers further muddled investors' sense of the economy.

The major stock indexes fluctuated throughout the day before closing slightly lower. The Dow Jones industrial average fell nearly 17 points and has now lost almost 400 over four days. It was a typically slow summer Friday, but only partly due to vacations. Traders who were working had little reason to make any major moves because of economic data that remains confusing.

One of the biggest obstacles to a strong economic recovery is weak consumer spending. Friday's reports about consumers' attitudes and spending didn't point to a shopping rebound anytime soon.

The Commerce Department said that retail sales rose 0.4 percent in July. That was an improvement after two months of sales declines. But the number was just below economists' forecast of a gain of 0.5 percent. While the report showed strength in auto sales due to buyers' incentives, it also showed that consumers are shying away from other purchases.

Some better news came from the University of Michigan/Reuters survey of consumer sentiment for the first part of August, which showed consumers are slightly more optimistic. An index based on the survey came in at 69.6, slightly above analysts' estimates and up from July's 67.8.

But retailer J.C. Penney Co. lowered its earnings forecast for the year, citing expectations that consumer spending will be slow. J.C. Penney joined competitor Kohl's Corp., which lowered its earnings outlook on Thursday.

These latest reports fell in line with a long string of conflicting data that has left investors unsure about where the economy is headed. Consumer spending has remained weak along with the labor market. And there are no signs that employers are ready to start hiring at a pace to help lift the economy. On Thursday, the Labor Department said the number of people filing for unemployment benefits for the first time rose last week.

Although J.C. Penney and Kohl's were disappointments for investors, second-quarter earnings overall have been strong and company executives are optimistic. The split between economic and earnings numbers has added to investors' murky view of the economy. It contributed to this week's heavy selling.

"We're in a fragile market," said Steven Goldman, chief market strategist, Weeden & Co. in Greenwich, Conn. He noted that the market's decline is feeding the lack of confidence among consumers and investors. That inevitably has an impact on the economy.

The Dow fell 16.80, or 0.2 percent, to 10,303.15. The Standard & Poor's 500 index fell 4.36, or 0.4 percent, to 1,079.25. The Nasdaq composite index fell 16.79, or 0.8 percent, to 2,173.48.

Losing stocks were ahead of gainers by almost 4 to 3 on the New York Stock Exchange, where consolidated volume came to an extremely light 3.35 billion shares, down from Thursday's 4 billion.

The major indexes' performance for the week shows how turbulent the market has been. The Dow is down 3.3 percent, while the S&P 500 is off 3.8 percent. The Nasdaq composite index had the steepest drop, 5 percent, in part because of a cautious economic outlook from Cisco Systems Inc.'s CEO, John Chambers. He echoed the words used last month by Federal Reserve Chairman Ben Bernanke, who called the outlook for the recovery "unusually uncertain." Cisco, which makes networking equipment, is seen as an economic bellwether.

The Fed's policy meeting on Tuesday also took a toll on stocks. The central bank noted that the recovery was slowing, and said it would start buying government debt in hopes of lowering interest rates and stimulating lending. However, investors believed the Fed's moves will have little impact on the economy.

Interest rates in the Treasury market showed investors' uneasiness. Rates, which move in the opposite direction from prices, have fallen as investors seek a safe place for their money.

The yield on the Treasury's 10-year note, which is used to set rates on consumer loans including mortgages, was 2.68 percent Friday, down from late Wednesday's 2.75 percent. A week ago, the yield stood at 2.82 percent, and on Aug. 2, the first trading day of the month, it was 2.97 percent.

Philip S. Dow, director of equity strategy at RBC Wealth Management in Minneapolis said much of Friday's trading was likely coming from high-frequency traders, who used complex mathematical models and computers to make money off small differences in stock prices. Many other investors still have a lot of cash on the sidelines while they wait to see where the market is headed, Dow said.

Stocks drew some support from the announcements of two planned corporate acquisitions. Asset manager Blackstone Group is paying $542.7 million to take power plant owner Dynegy Inc. private. The deal also calls for Blackstone to assume more than $4 billion in Dynegy's debt. Dynegy will also sell four power plants to NRG Energy Inc.

Dynegy rose $1.75, or 63 percent, to $4.53. Blackstone fell 38 cents, or 3.5 percent, to $10.63. And NRG fell 45 cents, or 2 percent, to $21.96.

IBM Corp. said it's buying Unica Corp., a marketing services company, for $480 million. IBM fell 43 cents, or 0.3 percent, to $127.87. Unica more than doubled in price, rising $11.29 to $20.84.

J.C. Penney fell 98 cents, or 4.7 percent, to $19.82. Other retailers also fell.

Overseas markets were mixed. London's FTSE-100 index rose 0.2 percent, while Germany's DAX fell 0.4 percent and the CAC-40 index in Paris fell 0.3 percent.

Investors in Europe were more concerned with signs of slowing growth in the U.S. than in their own economies. News that the European economy had grown 1 percent during the second quarter gave some support to stocks, but it was not enough to lift them across the board.

8521


----------



## bigdog

Source: http://finance.yahoo.com

Stocks managed to break a four-day losing streak Monday by the slimmest of margins. Investors had no change of heart about the economy, however, and again poured money into the safety of U.S. Treasurys.

The Dow Jones industrial average fluctuated along with the other big market indexes throughout the day. The Dow closed down just over a point, but the other indexes had slight gains. There were more winners than losers on the New York Stock Exchange.

Investors were dealing with more downbeat economic news, but it wasn't bad enough to set off significant selling. A report on manufacturing in New York state fell short of forecasts and Japan became the latest country to show signs of slowing growth. The reports raised investors' concerns about the pace of the global economic recovery.

*The NYSE DOW closed LOWER -1.14 points -0.01% on Monday August 16*
Sym. Last......... ........Change..........
Dow 10,302.01 -1.14 -0.01% 
Nasdaq 2,181.87 +8.39 +0.39% 
S&P 500 1,079.38 +0.13 +0.01% 
30-yr Bond 3.7200% -1.5000 

NYSE Volume 3,569,886,750   (prior day 3,819,334,750)
Nasdaq Volume 1,636,439,375  (prior day 1,623,953,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,276.10 +0.66 +0.01% 
DAX 6,110.57 +0.16 +0.00% 
CAC 40 3,597.60 -13.31 -0.37% 

*Asia*
Symbol...... Last...... .....Change
Nikkei 225 9,196.67 -56.79 -0.61% 
Hang Seng 21,112.12 +40.55 +0.19% 
Straits Times 2,933.51 -6.46 -0.22% 

http://finance.yahoo.com/news/Stocks-reverse-course-rise-apf-4221214888.html?x=0

*Stocks eke out gain as investor malaise continues

Stocks eke out slim gain as investors do some mild buying amid uneasiness about economy* 

Stephen Bernard, AP Business Writer, On Monday August 16, 2010, 5:36 pm

NEW YORK (AP) -- Stocks managed to break a four-day losing streak Monday by the slimmest of margins. Investors had no change of heart about the economy, however, and again poured money into the safety of U.S. Treasurys.

The Dow Jones industrial average fluctuated along with the other big market indexes throughout the day. The Dow closed down just over a point, but the other indexes had slight gains. There were more winners than losers on the New York Stock Exchange.

Investors were dealing with more downbeat economic news, but it wasn't bad enough to set off significant selling. A report on manufacturing in New York state fell short of forecasts and Japan became the latest country to show signs of slowing growth. The reports raised investors' concerns about the pace of the global economic recovery.

Analysts said Monday's short buying spurt was a pause following four days of losses that sent the Dow down almost 400 points.

"The market is really being controlled by (short-term) traders," said Mike Rubino, CEO at Rubino Financial Group in Troy, Mich. "The long-term investor doesn't appear to be anywhere in sight."

Without those long-term investors, trading is expected to remain erratic for the foreseeable future.

The Dow fell 1.14, or 0.01 percent, to 10,302.01. The Standard & Poor's 500 index rose 0.13, or 0.01 percent, to 1,079.38, while the Nasdaq composite index rose 8.39, or 0.4 percent, to 2,181.87.

The Nasdaq, which has fallen more than the other indexes, got a lift from technology company deals. Among them, Dell Inc. said it is buying 3Par Inc., a maker of data storage equipment, for about $1.13 billion.

Advancing stocks were ahead of losers by about 2 to 1 on the New York Stock Exchange, where volume remained light at 787.8 million shares. Many traders are on vacation. And those who are at their trading desks are making few moves in an uncertain economy.

Investors continued buying Treasurys, driving interest rates lower. U.S. government bonds are looking more and more appealing to investors wanting to find a safe place for their money as the economy cools and stocks drop.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.58 percent from 2.68 percent late Monday. Its yield is often used to help set interest rates on mortgages and consumer loans.

The yield on the 10-year note is near the level it last hit in March 2009 when stocks fell to a 12-year low.

"It's a sign of pessimism that investors accept that low a yield," said Joe Heider, principal at Rehmann Financial in Cleveland.

Japan said its economy grew just 0.1 percent in the second quarter, well below the 1.2 percent growth in the first quarter and short of expectations. The report follows signs last week that both the U.S. and Chinese economies are not growing as fast as earlier in the year.

Meanwhile, the Federal Reserve Bank of New York said manufacturing activity in the state rebounded slightly this month after falling sharply in July. Despite the modest gain, activity did not expand as much as had been forecast, which indicates that economic growth remains tepid.

The New York Fed's Empire State Manufacturing Index rose to 7.1 in August from 5.1 in July. Economists polled by Thomson Reuters forecast the index would rise to 8. It was 19.6 just two months ago.

Regional manufacturing reports have shown a broad slowdown in recent months. That's particularly discouraging because manufacturing provided the most consistent signs of growth during the first few months of the year.

The reports are the latest to indicate that the global economy is growing, but not as fast as it did during the first few months of 2010. The slowdown has concerned traders who were predicting growth to pick up during the second half.

"We're scared of our own shadows here," said Jamie Cox, managing director at Harris Financial Group in Richmond, Va. "We need to readjust our signs from above-trend growth. If not, we're going to be perennially disappointed."

News about the housing market was also discouraging. The National Association of Home Builders said its monthly index of builders' sentiment fell in August for the third straight month.

3Par rose $8.35, or more than 86 percent, to $18. Dell fell 5 cents to $11.96.

Lowe's Cos. said Monday its quarterly profit and revenue rose, though both measures fell short of forecasts. The home-improvement retailer also lowered its full-year revenue forecast. Lowe's rose 11 cents $19.70.

Overseas, Japan's Nikkei stock average fell 0.6 percent. Britain's FTSE 100 and Germany's DAX index both rose less than 0.1 percent. France's CAC-40 fell 0.4 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks climb after Home Depot, Wal-Mart report profit; wholesale prices inch higher 

Investors regained some enthusiasm for stocks Tuesday, sending prices sharply higher after reports showed a slight improvement in the housing market and a big jump in industrial production.

Investors were also encouraged by earnings from Home Depot Inc. and Wal-Mart Stores Inc. that were better than expected. The Dow Jones industrial average rose 103 points. All the major stock indexes were up more than 1 percent. Interest rates rose as investors moved out of the bond market and back into stocks.

It's too early to say whether stocks have recovered from a recent slump that sent the Dow falling almost 400 points over four days or whether Tuesday's advance was an upward blip. Many traders are on vacation, or avoiding any stock moves because of the uncertainty of the economy. That means low trading volume and price moves that can easily be exaggerated. The Dow rose almost 180 points before falling back to its closing level.

But Tuesday's reorts provided a slice of optimism and some reassurance that the economy continues to expand, although at a slower pace than early this year.

*The NYSE DOW closed HIGHER +103.84 points +1.01% on Tuesday August 17*
Sym. Last......... ........Change..........
Dow 10,405.85 +103.84 +1.01% 
Nasdaq 2,209.44 +27.57 +1.26% 
S&P 500 1,092.54 +13.16 +1.22% 
30-yr Bond 3.7700% +0.5000 

NYSE Volume 4,540,264,000  (prior day 3,569,886,750)
Nasdaq Volume 1,761,678,375  (prior day 1,636,439,375)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,350.55 +74.45 +1.41% 
DAX 6,206.40 +95.83 +1.57% 
CAC 40 3,663.13 +52.22 +1.45% 

*Asia*
Symbol...... Last...... .....Change
Nikkei 225 9,161.68 -34.99 -0.38% 
Hang Seng 21,137.43 +25.31 +0.12% 
Straits Times 2,923.36 -10.15 -0.35% 

http://finance.yahoo.com/news/Stocks-rise-on-earnings-apf-606445486.html?x=0

*Stocks rise on earnings, economic reports

Stocks climb after Home Depot, Wal-Mart report profit; wholesale prices inch higher *

Stephen Bernard, AP Business Writer, On Tuesday August 17, 2010, 4:51 pm EDT 

NEW YORK (AP) -- Investors regained some enthusiasm for stocks Tuesday, sending prices sharply higher after reports showed a slight improvement in the housing market and a big jump in industrial production.

Investors were also encouraged by earnings from Home Depot Inc. and Wal-Mart Stores Inc. that were better than expected. The Dow Jones industrial average rose 103 points. All the major stock indexes were up more than 1 percent. Interest rates rose as investors moved out of the bond market and back into stocks.

It's too early to say whether stocks have recovered from a recent slump that sent the Dow falling almost 400 points over four days or whether Tuesday's advance was an upward blip. Many traders are on vacation, or avoiding any stock moves because of the uncertainty of the economy. That means low trading volume and price moves that can easily be exaggerated. The Dow rose almost 180 points before falling back to its closing level.

But Tuesday's reorts provided a slice of optimism and some reassurance that the economy continues to expand, although at a slower pace than early this year.

"The data and earnings should ease people's concerns about a double-dip" recession, said Peter Bible, a partner at EisnerAmper. "We're anemic; we're slow; we're crawling, but we're not going backward."

The Commerce Department said construction of new homes and apartments rose 1.7 percent in July, but applications for building permits fell by a higher than expected 3.1 percent. Building permit applications are considered a good gauge of future activity.

Home sales have struggled to regain momentum after a home buyer tax credit expired at the end of April. So signs of stabilization in the market are considered somewhat positive after the sharp declines that followed after the expiration of the tax credit.

And industrial production jumped 1 percent in July, double the 0.5 percent growth forecast by economists. Rising output at the nation's factories, mines and utilities comes after multiple manufacturing reports had shown a pronounced slowdown over the past couple of months.

"That is fairly robust," Jeff Bagley, vice president and portfolio manager at Haverford Investments, said of the industrial production report. It's "another point of relief for investors."

The Dow Jones industrial average rose 103.84, or 1 percent, to 10,405.85. The Standard & Poor's 500 index rose 13.16, or 1.2 percent, to 1,092.54, while the Nasdaq composite index rose 27.57, or 1.3 percent, to 2,209.44.

About four stocks rose for one that fell on the New York Stock Exchange where volume came to a light 980 million shares.

Investors also had some good news from the latest inflation reading. Prices at the wholesale level rose 0.2 percent last month, the Labor Department said, easing worries about deflation, a drop in prices that is a symptom of a sick economy.

This was the first increase in producer prices since March and matched expectations of economists polled by Thomson Reuters. Excluding volatile food and energy costs, the index rose 0.3 percent in July, more than the 0.1 percent growth predicted by economists.

Home Depot followed fellow home-improvement retailer Lowe's in beating earnings expectations. Home Depot, as Lowe's did on Monday, modestly cut its revenue forecast as shoppers remain cautious about spending amid high unemployment. The company also raised its earnings forecast because of share repurchases.

Aside from better-than-expected earnings, Wal-Mart raised its earnings outlook because of continued cost-cutting measures and strong global growth in China, Brazil and Mexico.

Wal-Mart rose 61 cents, or 1.2 percent, to $51.02. Home Depot rose 93 cents, or 3.4 percent, to $28.31.

Meanwhile, Potash Corp. of Saskatchewan Inc. rejected an unsolicited takeover bid from BHP Billiton Ltd. worth about $38.49 billion, or $130 per share. Potash, a fertilizer producer, said the bid undervalued the company.

Global packaging company Reynolds Group Holdings Ltd. will buy Pactiv Corp., maker of the Hefty brand trash bags, for about $4.4 billion, or $33.25 per share, in cash. Including debt, the deal is value at about $6 billion.

Merger and acquisition activity is considered a positive sign for the economy because it means companies are betting the economy will grow in the near future. The rejection of the Potash deal also means it is confident the company is worth even more than the asking price because it sees growth as well.

Shares of Potash surged after the company rejected the offer. They rose $31.02, or 27.7 percent, to $143.17. Pactiv shares jumped $1.66, or 5.4 percent, to $32.58.

With investors looking to buy stocks and feeling less of a need for security, bond prices fell and sent interest rates sharply higher. The yield on the 10-year Treasury note, which moves opposite its price, rose to 2.64 percent from 2.57 percent late Monday. Its yield is often used to set interest rates on mortgages and other consumer loans.

Overseas, Britain's FTSE 100 rose 1.4 percent, Germany's DAX index gained 1.6 percent, and France's CAC-40 rose 1.8 percent. Japan's Nikkei stock average fell 0.4 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks ended a seesaw day with a modest gain Wednesday after investors found some pluses in retail earnings reports.

The Dow Jones industrial average and other major indexes fluctuated throughout the day before closing with slender gains. There was little news to motivate investors a day after a stream of improving economic numbers restored some of their enthusiasm for stocks and sent the Dow up 103 points. But retailers continued reporting second-quarter earnings and investors found a few positives.

Target Corp. missed analysts' forecasts for its second quarter revenue and offered a muted outlook for sales for the rest of the year. But the company told analysts it hopes to offset weak sales with higher sales of groceries and its new discounts for credit card holders. Target initially fell sharply, then recovered to a healthy advance.

The reports came a day after Wal-Mart Stores Inc. and Home Depot Inc. issued numbers that were upbeat. Almost all the big retailers closed higher Wednesday. An exception was BJ's Wholesale Club Inc., which lowered its earnings outlook for the year. Its stock dropped.

Wednesday's trading was muted, and that was to be expected after Tuesday's advance and as the outlook for the economy remained unclear. Traders weren't about to commit much more money to stocks. And many traders weren't at their desks.

*The NYSE DOW closed HIGHER +9.69 points +0.09% on Wednesday August 18*
Sym. Last......... ........Change..........
Dow 10,415.54 +9.69 +0.09% 
Nasdaq 2,215.70 +6.26 +0.28% 
S&P 500 1,094.16 +1.62 +0.15% 
30-yr Bond 3.7340% -0.3600 

NYSE Volume 4,317,802,000  (prior day 4,540,264,000)
Nasdaq Volume 1,693,790,125  (prior day 1,761,678,375)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,302.87 -47.68 -0.89% 
DAX 6,186.31 -20.09 -0.32% 
CAC 40 3,647.93 -15.20 -0.41% 

*Asia*
Symbol...... Last...... .....Change
Nikkei 225 9,240.54 +78.86 +0.86% 
Hang Seng 21,022.73 -114.70 -0.54% 
Straits Times 2,919.37 -3.99 -0.14%

http://finance.yahoo.com/news/Stocks-close-modestly-higher-apf-2626377068.html?x=0

*Stocks close modestly higher on retail reports

Stocks end seesaw day with modest advance as investors put positive spin on retail report*

Joyce M. Rosenberg, AP Business Writer, On Wednesday August 18, 2010, 5:40 pm EDT 

NEW YORK (AP) -- Stocks ended a seesaw day with a modest gain Wednesday after investors found some pluses in retail earnings reports.

The Dow Jones industrial average and other major indexes fluctuated throughout the day before closing with slender gains. There was little news to motivate investors a day after a stream of improving economic numbers restored some of their enthusiasm for stocks and sent the Dow up 103 points. But retailers continued reporting second-quarter earnings and investors found a few positives.

Target Corp. missed analysts' forecasts for its second quarter revenue and offered a muted outlook for sales for the rest of the year. But the company told analysts it hopes to offset weak sales with higher sales of groceries and its new discounts for credit card holders. Target initially fell sharply, then recovered to a healthy advance.

The reports came a day after Wal-Mart Stores Inc. and Home Depot Inc. issued numbers that were upbeat. Almost all the big retailers closed higher Wednesday. An exception was BJ's Wholesale Club Inc., which lowered its earnings outlook for the year. Its stock dropped.

Wednesday's trading was muted, and that was to be expected after Tuesday's advance and as the outlook for the economy remained unclear. Traders weren't about to commit much more money to stocks. And many traders weren't at their desks.

"This is sort of a reflection of it being August when most trading firms have a skeleton staff on hand. It's going to be quiet for the next week or two," said Robert Pavlik, chief market strategist at Banyan Partners LLC in New York.

The Dow rose 9.69, or 0.1 percent, to 10,415.54. The Standard & Poor's 500 index rose 1.62, or 0.2 percent, to 1,094.16. The Nasdaq composite index rose 6.26, or 0.3 percent, to 2,215.70

Gainers were ahead of losers by 3 to 2 on the New York Stock Exchange. Consolidated volume was again extremely light at 3.8 billion shares, down from Tuesday's 4.1 billion.

Treasurys remained a destination for investors seeking a safer place than stocks to put their money. The 10-year Treasury yield fell to 2.63 percent from 2.64 percent late Tuesday.

John Stoltzfus, senior market strategist with Ticonderoga Securities in New York, said the market is becoming increasingly dominated by a "What have you done for me lately?" attitude and responding to daily reports about the economy.

"We live from economic data point to economic data point," he said. "That will probably continue at least until the end of the summer as we wait for some kind of catalyst that would give the market better definition."

BHP Billiton's $38.5 billion takeover offer for fertilizer producer Potash Corp. of Saskatchewan turned hostile Wednesday. Potash had called BHP's offer grossly inadequate. The announcement of the bid and Potash's rejection Tuesday helped feed the rally in stocks. Mergers and acquisitions activity tends to lift the market because it shows investors' confidence in the economy.

Investors were expecting a better offer. Potash rose $4.76, or 3.3 percent, to $147.93.

Target rose $1.27, or 2.5 percent, to $51.95. BJ's fell $1.17, or 2.7 percent, to $42.14. J.C. Penney Co., hurt last week by a disappointing earnings report, rose along with its competitors. It closed up 52 cents, or 2.6 percent, at $20.66. Clothing retailer AnnTaylor Corp. rose 97 cents, or 6.5 percent, to $15.96.

Overseas, Japan's Nikkei 225 index closed up 0.9 percent. In later European trading, London's FT-SE 100 index fell 0.8 percent. Germany's DAX index fell 0.3 percent, while the CAC-40 index in Paris fell 0.7 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks tumbled Thursday after two disappointing economic reports renewed investors' concerns about the pace of the recovery.

The Dow Jones industrial average fell 144 points. All the major stock indexes fell more than 1 percent. Interest rates also fell sharply as investors moved back into the safety of Treasury bonds.

The Labor Department said initial claims for unemployment benefits rose unexpectedly last week and the Federal Reserve of Philadelphia said manufacturing activity in the mid-Atlantic region has dropped during August.

"The Philly Fed number was just awful," said Randy Frederick, director of trading and derivatives at Charles Schwab. "The jobs number was bad, but not as far off the mark as the Philly number."

*The NYSE DOW closed LOWER -144.33 points -1.39%  on Thursday August 19*
Sym. Last......... ........Change..........
Dow 10,271.21 -144.33 -1.39% 
Nasdaq 2,178.95 -36.75 -1.66% 
S&P 500 1,075.63 -18.53 -1.69% 
30-yr Bond 3.6570% -0.7700 

NYSE Volume 4,983,463,000  (prior day 4,317,802,000)
Nasdaq Volume 2,124,020,000 (prior day 1,693,790,125)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,211.29 -91.58 -1.73% 
DAX 6,075.13 -111.18 -1.80% 
CAC 40 3,572.40 -75.53 -2.07% 

*Asia*
Symbol...... Last...... .....Change
Nikkei 225 9,362.68 +122.14 +1.32% 
Hang Seng 21,072.46 +49.73 +0.24% 
Straits Times 2,946.77 +27.40 +0.94% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=6&asset=&ccode=

*Stocks drop as jobless claims rise unexpectedly

Stocks fall after jobless claims rise, regional manufacturing report disappoints* 

Stephen Bernard, AP Business Writer, On Thursday August 19, 2010, 5:01 pm EDT 

NEW YORK (AP) -- Stocks tumbled Thursday after two disappointing economic reports renewed investors' concerns about the pace of the recovery.

The Dow Jones industrial average fell 144 points. All the major stock indexes fell more than 1 percent. Interest rates also fell sharply as investors moved back into the safety of Treasury bonds.

The Labor Department said initial claims for unemployment benefits rose unexpectedly last week and the Federal Reserve of Philadelphia said manufacturing activity in the mid-Atlantic region has dropped during August.

"The Philly Fed number was just awful," said Randy Frederick, director of trading and derivatives at Charles Schwab. "The jobs number was bad, but not as far off the mark as the Philly number."

The pair of economic reports followed news that Intel Corp. was acquiring McAfee Inc. The deal, valued at $7.68 billion, was not enough to offset the weaker economic readings.

The reports are the latest in a months-long string of conflicting readings on the economy. The reports have shown the pace of a rebound is slowing and that companies are skittish about adding new workers. That has hurt stocks on some days in recent weeks. It has also stoked fears about the economy falling back into recession.

At the same time, corporate announcements, including earnings reports for the past six weeks, have largely showed companies are doing well. Mergers and acquisitions activity is often considered a positive sign because it means companies are willing to spend money to expand their businesses and are confident that prospects are improving.

The Dow fell 144.33, or 1.4 percent, to 10,271.21. The Standard & Poor's 500 index fell 18.53, or 1.7 percent, to 1,075.63, while the Nasdaq composite index fell 36.75, or 1.7 percent, to 2,178.95.

About four stocks fell for every one that rose on the New York Stock Exchange, where volume came to almost 1.1 billion shares.

Volume has been particularly light in recent weeks, even by summer standards, meaning many investors are still uncertain about the direction of the economy.

Bond prices rose after the weak jobs and manufacturing reports. Investors often move into the safety of government bonds when there are signs the economy is not strong. The yield on the 10-year Treasury note, which moves opposite its price, fell to 2.58 percent from 2.64 percent late Wednesday. Its yield is often used to help set interest rates on mortgages and other consumer loans.

Joe Benanti, managing director at Rosenblatt Securities, said low volume likely added to the sell-off.

It's "probably taking trading a little to an extreme, more than it should," Benanti said.

Volume has been reduced not only by summer vacations, but by investors' reluctance to make many big moves amid the uncertainty about the economy.

The Labor Department said initial claims for unemployment benefits rose by 12,000 to 500,000 last week from an upwardly revised 488,000 a week earlier. Economists polled by Thomson Reuters forecast claims would fall slightly. It was the fourth rise in claims in the past five weeks and sent them to their highest level since November.

High unemployment is considered the biggest hurdle to a stronger recovery because people worried about jobs have scaled back their spending. Consumer spending accounts for the bulk of the country's economic activity.

The Philly Fed manufacturing survey was negative 7.7 for August after a reading of positive 5.1 last month. Economists were expecting the index to rise this month. Any reading above zero indicates growth in the sector.

It was an especially sobering report because manufacturing activity early this year had shown the most consistent signs of growth.

The report is "saying the manufacturing pop has run out of steam," said Jim Peters, CEO of Tactical Allocation Group. The lift the economy got from companies replenishing inventories is over and sales have not picked up enough to maintain those levels, Peters said.

A report on future economic activity also fell short of expectations. The Conference Board's index of leading economic indicators rose 0.1 percent last month after falling a month earlier. Economists had expected the index to rise 0.2 percent.

The index tries to predict economic activity over the next three to six months, so a rise in the index would indicate the economy is likely to grow during the second half of the year.

Chip maker Intel is buying computer-security software maker McAfee in an all-cash deal for $48 per share. McAfee shares surged $17.09, or 57.1 percent, to $47.02. Intel shares fell 61 cents, or 3.1 percent, to $18.98.

In other corporate news, Sears Holdings Corp. reported its second-quarter loss was cut in half as profit margins improved at its Kmart chain. But revenue at stores open at least a year, a key measure of strength in the retail industry, fell during the quarter. Sears shares dropped $5.36, of 8 percent, to $61.89.

Overseas, Britain's FTSE 100 fell 1.7 percent, Germany's DAX index fell 1.8 percent, and France's CAC-40 dropped 2.1 percent. Japan's Nikkei stock average rose 1.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

For the week, the Dow fell 0.9 percent, while the S&P 500 index fell 0.7 percent and the Nasdaq rose 0.2 percent. The indexes seesawed through the week as investors shuttled between optimism and pessimism about the economy.

Stocks closed moderately lower Friday as investors' pessimistic view of the economy deepened.

There was little reason for investors to buy. There were no reports to offset Thursday's disappointing news that growth in the domestic economy continues to slow. The Dow Jones industrial average fell 57 points a day after falling 144. The other major indexes also fell moderately.

"We're not seeing any significant growth prospects," said Peter Costa, president of Empire Executions. "Why be in the market if there's no (near-term) prospects for growth?"

Oil prices fell again on worries that future demand will wane if economic growth remains tepid. Energy stocks were among the worst performers, including oil companies Chevron Corp. and ConocoPhillips.

*The NYSE DOW closed LOWER -57.59 points -0.56% on Friday August 20*
Sym. Last......... ........Change..........
Dow 10,213.62 -57.59 -0.56% 
Nasdaq 2,179.76 +0.81 +0.04% 
S&P 500 1,071.69 -3.94 -0.37% 
30-yr Bond 3.6610% +0.0400 

NYSE Volume 4,329,797,500  (prior day 4,983,463,000)
Nasdaq Volume 1,944,784,880  (prior day 2,124,020,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,195.28 -16.01 -0.31% 
DAX 6,005.16 -69.97 -1.15% 
CAC 40 3,526.12 -46.28 -1.30% 

*Asia*
Symbol...... Last...... .....Change
Nikkei 225 9,179.38 -183.30 -1.96% 
Hang Seng 20,981.82 -90.64 -0.43% 
Straits Times 2,936.48 -10.29 -0.35% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks slide as investors' malaise continues

Stocks fall, extending their loss for the week as investors' malaise and pessimism deepen *

Stephen Bernard, AP Business Writer, On Friday August 20, 2010, 6:10 pm EDT 
NEW YORK (AP) -- Stocks closed moderately lower Friday as investors' pessimistic view of the economy deepened.

There was little reason for investors to buy. There were no reports to offset Thursday's disappointing news that growth in the domestic economy continues to slow. The Dow Jones industrial average fell 57 points a day after falling 144. The other major indexes also fell moderately.

"We're not seeing any significant growth prospects," said Peter Costa, president of Empire Executions. "Why be in the market if there's no (near-term) prospects for growth?"

Oil prices fell again on worries that future demand will wane if economic growth remains tepid. Energy stocks were among the worst performers, including oil companies Chevron Corp. and ConocoPhillips.

Overseas markets also fell, reacting to reports Thursday that initial claims for unemployment benefits in the U.S. rose last week and that manufacturing in the Mid-Atlantic region shrank.

"We're probably on a continuation from yesterday's disturbing claims number," said Paul Zemsky, head of asset allocation at ING Investment Management. "There's really nothing to hang your hat on."

The Dow fell 57.59, or 0.6 percent, to 10,213.62. The Standard & Poor's 500 index fell 3.94, or 0.4 percent, to 1,071.69, while the Nasdaq composite index rose 0.81, or 0.04 percent, to 2,179.76.

For the week, the Dow fell 0.9 percent, while the S&P 500 index fell 0.7 percent and the Nasdaq rose 0.2 percent. The indexes seesawed through the week as investors shuttled between optimism and pessimism about the economy.

About three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume came to 3.8 billion shares, down from 4.4 billion Thursday.

Traders' vacations have left volume exceptionally low this month. The uncertainty about the economy has made those who are working hesitant to make any big moves.

Data has shown in recent months that private employers are reluctant to hire new workers because they are unsure how strong business will be in the coming quarters. That, in turn, has people worried about their jobs and spending less. But until spending picks up, unemployment could remain high. The vicious circle has investors turning away from stocks.

Mark Luschini, chief market strategist at Janney Montgomery Scott, said companies are also reluctant to hire because of worries about taxes and government programs like the health care reform passed earlier this year.

"The uncertainty that exists on regulatory and income taxes has (employers) in stall mode," Luschini said. Companies are worried about whether higher taxes and costs associated to regulation reform will impact profit margins and cause shoppers to reduce spending if they are paying more taxes, Luschini said.

The unemployment rate remains at 9.5 percent and analysts widely agree it needs to fall to lead to a stronger rebound.

In corporate news, Dell Inc. reported a better-than-expected profit Thursday, due largely to increased technology spending by businesses. However, sales in its consumer personal computer division were flat compared with the same quarter last year -- further evidence that shoppers are hesitant to buy new goods.

Hewlett-Packard Co. reported quarterly results that were in line with preliminary results it released earlier in the month. Its profit rose 6 percent. Unlike Dell, it had growth in its personal computer sales.

HP fell 91 cents, or 2.2 percent, to $39.85. Dell rose 3 cents to $12.07.

Corporate mergers and acquisitions activity gave stocks a boost early this week, but was overshadowed later by weak economic reports. Mergers and acquisitions activity is usually seen as a hopeful sign for the economy because it means companies are willing to spend money, betting that their businesses and the economy will grow in the coming quarters.

Benchmark crude for October delivery fell 97 cents to settle at $73.82 a barrel on the New York Mercantile Exchange. Oil prices have steadily dropped throughout August because of concerns that demand will drop if the global economic recovery slows.

Chevron fell 79 cents to $75.05. ConocoPhillips dropped 82 cents to $53.89.

Bond prices fell. The yield on the 10-year Treasury note, which moves opposite its price, rose to 2.62 percent from 2.58 late Thursday. Its yield is often used to help set interest rates on mortgages and other consumer loans.

Overseas, Britain's FTSE 100 fell 0.3 percent, Germany's DAX index dropped 1.2 percent, and France's CAC-40 fell 1.3 percent. Japan's Nikkei stock average fell 2 percent.
9012


----------



## bigdog

Source: http://finance.yahoo.com

Stocks slumped to a weak finish Monday as lingering worries about the economy overcame optimism from a fresh round of corporate dealmaking.

Stocks had an early lift after Hewlett-Packard Co. bid 33 percent more than rival Dell Inc. for a data storage provider, but the gains faded quickly.

The Dow Jones industrial average was up as much as 91 points in early trading but turned mixed for much of the day. A slump in the final half-hour of trading left the Dow with a loss of 39 points.

Despite the positive deal news, a number of worries about the economy are keeping a lid on the market, especially a reluctance among companies to create jobs. Stocks had a two-day selloff late last week after first-time claims for unemployment benefits jumped to their highest level since November.

*The NYSE DOW closed LOWER -39.21 points -0.38% on Monday August 23*
Sym. Last......... ........Change..........
Dow 10,174.41 -39.21 -0.38% 
Nasdaq 2,159.63 -20.13 -0.92% 
S&P 500 1,067.36 -4.33 -0.40% 
30-yr Bond 3.6660% +0.0500 

NYSE Volume 3,369,164,000  (prior day 4,329,797,500)
Nasdaq Volume 1,709,478,250  (prior day 1,944,784,880)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,234.84 +39.56 +0.76% 
DAX 6,010.91 +5.75 +0.10% 
CAC 40 3,553.23 +27.11 +0.77%

*Asia*
Symbol...... Last...... .....Change
Nikkei 225 9,116.69 -62.69	-0.68%
Hang Seng 20,889.01 -92.81 -0.44% 
Straits Times 2,925.99 -10.49 -0.36% 


*Stocks slip as economy worries outweigh deal news

Stocks give up early gains as economic worries overcome optimism from deal news  *

Stephen Bernard, AP Business Writer, On Monday August 23, 2010, 4:56 pm

NEW YORK (AP) -- Stocks slumped to a weak finish Monday as lingering worries about the economy overcame optimism from a fresh round of corporate dealmaking.

Stocks had an early lift after Hewlett-Packard Co. bid 33 percent more than rival Dell Inc. for a data storage provider, but the gains faded quickly.

The Dow Jones industrial average was up as much as 91 points in early trading but turned mixed for much of the day. A slump in the final half-hour of trading left the Dow with a loss of 39 points.

Despite the positive deal news, a number of worries about the economy are keeping a lid on the market, especially a reluctance among companies to create jobs. Stocks had a two-day selloff late last week after first-time claims for unemployment benefits jumped to their highest level since November.

"Companies are not hiring because they don't know the rules of the game," said. Frank Ingarra, co-portfolio manager of Hennessy Funds. "When you don't know the rules, you pack up and go home."

Ingarra said companies are hesitant to hire because of uncertainty surrounding costs tied to recently passed financial regulation and health care reform. The possibility of rising taxes also has companies worried about consumption, he said.

In other deal news, Potash Corp. of Saskatchewan Inc. rejected BHP Billiton's $38.5 billion offer to acquire the fertilizer company, and HSBC Holdings said it was in talks to buy a controlling stake in Nedbank Group Ltd. of South Africa from Old Mutual for as much as $6.8 billion.

The Dow Jones industrial average lost 39.21 or 0.4 percent, to close at 10,174.41. Other major stock indexes also ended lower.

The Standard & Poor's 500 index fell 4.33, or 0.4 percent, to 1,067.36, while the Nasdaq composite index lost 20.13, or 0.9 percent, to 2,159.63.

Falling stocks outpaced gaining ones three to two on the New York Stock Exchange. Trading volume was very light at 865 million shares, versus 1.1 billion shares on Friday.

Bond prices fell. The yield on the 10-year Treasury note, which moves opposite to its price, fell to 2.60 percent from 2.62 percent late Friday. That yield helps set interest rates on mortgages and consumer loans.

"People are focused on the head winds more than the tail winds," said Walter Gerasimowicz, chief investment officer at Meditron Asset Management. He said investors are overlooking historically low interest rates and signs of corporate strength, choosing instead to focus on disappointing economic data.

Reports are due this week on the housing market, durable goods orders, consumer sentiment and a revision to second-quarter gross domestic product.

Housing remains especially weak following the expiration of the government's tax credit earlier this year. Reports on existing and new home sales are due out Tuesday and Wednesday.

Traders will be looking at Wednesday's report on durable goods orders to see if a slowdown in manufacturing was only temporary. Manufacturing has been one of the few bright spots in the broader economy this year.

Hewlett-Packard shares fell 81 cents to $39.04, while 3Par jumped $8.05, or 44.6 percent, to $26.09. Dell fell 13 cents to $11.94.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks fell for a fourth day after another disappointing report on housing deepened worries that the economic recovery could be fading. Bond yields fell as investors sought out more stable investments.

The Dow Jones industrial average lost 134 points Tuesday following news that sales of previously occupied homes fell last month to their lowest level in 15 years. The 27 percent drop in home sales from the previous month was the biggest since record-keeping began in 1968.

The Dow dipped briefly below 10,000 for the first time in seven weeks and has now lost 375 points since its four-day slump began. The yield on the two-year Treasury note reached another record low as cautious investors piled back into the bond market.

*The NYSE DOW closed LOWER -133.96 points -1.32%  on Tuesday August 24*
Sym. Last......... ........Change..........
Dow 10,040.45 -133.96 -1.32% 
Nasdaq 2,123.76 -35.87 -1.66% 
S&P 500 1,051.87 -15.49 -1.45% 
30-yr Bond 3.5640% -1.0200 

NYSE Volume 4,663,190,500  (prior day 3,369,164,000)
Nasdaq Volume 2,171,960,500  (prior day 1,709,478,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,155.95 -78.89 -1.51% 
DAX 5,935.44 -75.47 -1.26% 
CAC 40 3,491.11 -62.12 -1.75% 

*Asia*
Symbol...... Last...... .....Change
Nikkei 225 8,995.14 -121.55 -1.33% 
Hang Seng 20,658.71 -230.30 -1.10% 
Straits Times 2,922.85 -3.14 -0.11% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks drop after sharp fall in July home sales

Stocks stumble after existing home sales plummet in July; Dow off 134 *

Stephen Bernard, AP Business Writer, On Tuesday August 24, 2010, 5:47 pm 

NEW YORK (AP) -- Stocks fell for a fourth day after another disappointing report on housing deepened worries that the economic recovery could be fading. Bond yields fell as investors sought out more stable investments.

The Dow Jones industrial average lost 134 points Tuesday following news that sales of previously occupied homes fell last month to their lowest level in 15 years. The 27 percent drop in home sales from the previous month was the biggest since record-keeping began in 1968.

The Dow dipped briefly below 10,000 for the first time in seven weeks and has now lost 375 points since its four-day slump began. The yield on the two-year Treasury note reached another record low as cautious investors piled back into the bond market.

The National Association of Realtors said sales of previously occupied homes plunged in July to an annual rate of 3.83 million, much worse than the 4.7 million estimate from economists polled by Thomson Reuters.

Home sales have fallen sharply since a homebuyer tax credit expired at the end of April, despite mortgage rates reaching record lows. A stubbornly high unemployment rate of 9.5 percent has been keeping home sales down, and banks have also been cautious in making new loans.

"Without a boost in job creation, (buyers) just won't have the confidence to step in and buy a new home," David Katz, principal at Weiser Capital Management said.

Other world markets also fell. Japanese stocks led the way lower, falling more than 1 percent as the yen hit a fresh 15-year high against the dollar. Japan's economy relies heavily on exports, so a stronger yen hurts the profits of major Japanese companies.

Stocks have been sliding in recent days as investors focus on signs that economic growth is slowing. A new wave of corporate dealmaking gave stocks a temporary boost Monday, but those gains quickly faded.

The Dow fell 133.96, or 1.3 percent, to close at 10,040.45. The Standard & Poor's 500 index fell 15.49, or 1.5 percent, to 1,051.87, while the Nasdaq composite index fell 35.87, or 1.7 percent, to 2,123.76.

Three stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume was very light at 4.5 billion shares, up from an even lighter 3.3 billion shares the day before.

Japan's Nikkei stock average fell 1.3 percent after worries about the high yen hit share prices there.

In Europe, Britain's FTSE 100 fell 1.5 percent, Germany's DAX index dropped 1.3 percent, and France's CAC-40 fell 1.8 percent.

The yield on the 10-year Treasury note, which moves opposite to its price, fell to 2.50 percent from 2.60 percent late Monday. That yield helps set interest rates on mortgages and other consumer loans.

The 10-year note's yield continues to hover around levels not reached since March 2009, when the stock market hit a 12-year low and investors were concerned about the deepening recession. The yield on the two-year note went as low as 0.46 percent, another in a series of record lows.

Stock traders are "taking their cues from the bond market," said Lawrence Glazer, a managing partner at Mayflower Advisors. "It really has been a dramatic and frightening shift" in Treasury prices, which has spooked investors and led to worries about another recession, Glazer said.

Reports due out later in the week will also provide insight into the health of the economy. Data on new home sales, durable goods orders, weekly jobless claims and consumer sentiment are scheduled for later in the week.

The government will also release a revised report on second-quarter gross domestic product. The broadest measure of the country's total economic output is expected to be lower than initially thought, adding to concerns about the pace of the domestic recovery.


----------



## bigdog

Source: http://finance.yahoo.com

It was shaping up to be another crummy day on the stock market Wednesday until investors decided to start looking for beaten-down shares after four straight days of declines.

The Dow Jones industrial average fell as much as 102 points in the first hour of trading after the latest batch of weak reports renewed fears that the economy was slowing down. Sales of new homes fell to their lowest pace on record in July, and durable goods orders were also weak.

But after four straight days of avoiding risk, traders began edging out of safe assets like Treasurys and back into stocks. The Dow ended with a gain of 19.61 points, or 0.2 percent, at 10,060.06.

*The NYSE DOW closed HIGHER +19.61 points +0.20% on Wednesday August 25*
Sym. Last......... ........Change..........
Dow 10,060.06 +19.61 +0.20% 
Nasdaq 2,141.54 +17.78 +0.84% 
S&P 500 1,055.33 +3.46 +0.33% 
30-yr Bond 3.5750% +0.1100 

NYSE Volume 4,677,634,500  (prior day 4,663,190,500)
Nasdaq Volume 2,049,096,120   (prior day 2,171,960,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,109.40 -46.55 -0.90% 
DAX 5,899.50 -35.94 -0.61% 
CAC 40 3,450.19 -40.92 -1.17% 

*Asia*
Symbol...... Last...... .....Change
Nikkei 225 8,845.39 -149.75 -1.66% 
Hang Seng 20,634.98 -23.73 -0.11% 
Straits Times 2,926.55 +3.70 +0.13% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks recover following weak home sales report

Stocks bounce back from an early slump; Dow has its first gain in five days*

Stephen Bernard, AP Business Writer, On Wednesday August 25, 2010, 5:51 pm 

NEW YORK (AP) -- It was shaping up to be another crummy day on the stock market Wednesday until investors decided to start looking for beaten-down shares after four straight days of declines.

The Dow Jones industrial average fell as much as 102 points in the first hour of trading after the latest batch of weak reports renewed fears that the economy was slowing down. Sales of new homes fell to their lowest pace on record in July, and durable goods orders were also weak.

But after four straight days of avoiding risk, traders began edging out of safe assets like Treasurys and back into stocks. The Dow ended with a gain of 19.61 points, or 0.2 percent, at 10,060.06.

The back-and-forth trading pattern has been typical of the volatility seen on the market in recent weeks, which has been exacerbated by very low trading volumes as investors take summer vacations.

"We rally, we sell off. We rally, we sell off," said Sandy Mehta, principal and chief investment officer of Value Investment Principals. "It's just the nature of the market right now."

Broader market barometers also rose. The Standard & Poor's 500 rose 3.46, or 0.3 percent, to 1,055.33, while the Nasdaq rose 17.78, or 0.8 percent, to 2,141.54.

About three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to a relatively low 4.4 billion shares, versus 4.5 billion shares the day before.

Interest rates initially fell in the bond market following the disappointing economic data, but rose steadily throughout much of the day as traders exited some of their Treasury positions and became more willing to pick up riskier assets.

Oil prices also rose, in another sign that traders are less concerned about finding safe assets. Crude rose more than $1 off its low for the day to settle at $72.52 a barrel.

The yield on the 10-year Treasury note fell as low as 2.42 percent during morning trading before climbing back to 2.54 percent. That yield helps set interest rates on mortgages and other consumer loans.

Overseas, Japanese shares fell again after the yen hit a new 15-year high against the dollar and a nine-year high against the euro. The high yen hurts profitability at major Japanese exporters. Japan's Nikkei stock average fell 1.7 percent. European markets were also lower.


----------



## Julia

ABC's Radio National "Background Briefing" is always a quality program.
This Sunday it's examining the 'flash fall of 1000 points' which occurred a few weeks ago.
From 9.10 am to 10 am Sunday 29 August.
http://www.abc.net.au/rn/backgroundbriefing/stories/2010/2991685.htm


----------



## bigdog

Source: http://finance.yahoo.com

Stocks fell Thursday after early gains from a better report on jobless claims ebbed. The Dow Jones industrial average closed below 10,000 for the first time since early July.

The Dow lost 74 points, having been up as much as 45 earlier. The market has struggled to hold on to gains in recent trading as many investors remain unconvinced that the economic recovery will hold.

Stocks have been on a generally declining trend in August after charging ahead in July. A bevy of poor indicators on the economy, especially weak home sales, has pierced a sense of optimism brought about by a series of strong corporate earnings reports the month before. The Dow has lost ground in five of the past six trading sessions, and has shed 430 points over that time.

*The NYSE DOW closed LOWER -74.25 points -0.74% on Thursday August 26*
Sym. Last......... ........Change..........
Dow 9,985.81 -74.25 -0.74% 
Nasdaq 2,118.69 -22.85 -1.07% 
S&P 500 1,047.22 -8.11 -0.77% 
30-yr Bond 3.5310% -0.0440 

NYSE Volume 3,940,684,250  (prior day 4,677,634,500)
Nasdaq Volume 1,843,379,380  (prior day 2,049,096,120)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,155.84 +46.44 +0.91% 
DAX 5,912.58 +13.08 +0.22% 
CAC 40 3,475.03 +24.84 +0.72% 

*Asia*
Symbol...... Last...... .....Change
Nikkei 225 8,906.48 +61.09 +0.69% 
Hang Seng 20,612.06 -22.92 -0.11% 
Straits Times 2,928.09 +1.54 +0.05% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks slip as caution about the economy returns

Stocks slide again as caution returns; Dow can't hold on to 10,000 *

Stephen Bernard, AP Business Writer, On Thursday August 26, 2010, 5:41 pm EDT 

NEW YORK (AP) -- Stocks fell Thursday after early gains from a better report on jobless claims ebbed. The Dow Jones industrial average closed below 10,000 for the first time since early July.

The Dow lost 74 points, having been up as much as 45 earlier. The market has struggled to hold on to gains in recent trading as many investors remain unconvinced that the economic recovery will hold.

Stocks have been on a generally declining trend in August after charging ahead in July. A bevy of poor indicators on the economy, especially weak home sales, has pierced a sense of optimism brought about by a series of strong corporate earnings reports the month before. The Dow has lost ground in five of the past six trading sessions, and has shed 430 points over that time.

The market enjoyed a brief reprieve from that malaise early Thursday thanks to an encouraging sign on the job market. The Labor Department reported that first-time claims for jobless benefits fell last week after three straight weekly increases.

Now, it's up to Ben Bernanke to provide the next clues on the economy. The Federal Reserve chairman is delivering a speech early Friday that investors hope will shed light on how weak the U.S. economy really is and whether the Fed may take more steps to revive it.

Peter Cardillo, chief market economist at Avalon Partners Inc., said the market wants to see whether "the pulse of the Fed is beating at a fast rate with anxiety over the economy."

The Dow fell 74.25, or 0.7 percent, to 9,985.81. The Dow had traded below 10,000 several times this week, but hadn't closed below that level since July 6.

Broader market barometers also fell. The Standard & Poor's 500 fell 8.11, or 0.8 percent, to 1,047.22, while the Nasdaq fell 22.85, or 1.1 percent, to 2,118.69.

Falling stocks outpaced rising ones two-to-one on the New York Stock Exchange, where consolidated volume came to a very light 3.8 billion shares.

First-time claims for unemployment benefits dropped to 473,000 last week, a bigger drop than analysts expected. First-time claims had jumped ominously the week before, going above 500,000 for the first time since November.

The latest jobless claims report suggests that hiring remains weak. In a healthy economy, weekly claims usually fall below 400,000. At the height of the recession in March 2009, weekly claims peaked at 651,000.

Treasury prices rose, sending interest rates lower, after the glow from the positive report on jobless claims waned. The yield on the 10-year Treasury note dipped to 2.48 percent from 2.54 percent late Wednesday. Its yield helps set interest rates on mortgages and other consumer loans.

Long-term bond yields are hovering around levels not recorded since early 2009, when the country was in the depths of the recession and stocks hit 12-year lows.

European markets got a lift from an improved consumer confidence reading on Germany's economy. Germany's DAX index rose 0.2 percent. France's CAC-40 climbed 0.7 percent and Britain's FTSE 100 rose 0.9 percent.


----------



## bigdog

Source: http://finance.yahoo.com

It was shaping up to be another crummy day on the stock market Wednesday until investors decided to start looking for beaten-down shares after four straight days of declines.

The Dow Jones industrial average fell as much as 102 points in the first hour of trading after the latest batch of weak reports renewed fears that the economy was slowing down. Sales of new homes fell to their lowest pace on record in July, and durable goods orders were also weak.

But after four straight days of avoiding risk, traders began edging out of safe assets like Treasurys and back into stocks. The Dow ended with a gain of 19.61 points, or 0.2 percent, at 10,060.06.

*The NYSE DOW closed HIGHER +164.84 points +1.65% on Friday August 27*
Sym. Last......... ........Change..........
Dow 10,150.65 +164.84 +1.65% 
Nasdaq 2,153.63 +34.94 +1.65% 
S&P 500 1,064.59 +17.37 +1.66% 
30-yr Bond 3.6980% +1.6700 

NYSE Volume 4,295,823,500   (prior day 3,940,684,250)
Nasdaq Volume 2,169,649,500  (prior day 1,843,379,380)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,201.56 +45.72 +0.89% 
DAX 5,951.17 +38.59 +0.65% 
CAC 40 3,507.44 +32.41 +0.93% 

*Asia*
Symbol...... Last...... .....Change
Nikkei 225 8,991.06 +84.58 +0.95% 
Hang Seng 20,597.35 -14.71 -0.07% 
Straits Times 2,938.74 +12.87 +0.44% 

http://finance.yahoo.com/news/Stocks-recover-following-weak-apf-824894060.html?x=0#Scene_1

*Stocks recover following weak home sales report

Stocks bounce back from an early slump; Dow has its first gain in five days *

Stephen Bernard, AP Business Writer, On Wednesday August 25, 2010, 5:51 pm EDT 

NEW YORK (AP) -- It was shaping up to be another crummy day on the stock market Wednesday until investors decided to start looking for beaten-down shares after four straight days of declines.

The Dow Jones industrial average fell as much as 102 points in the first hour of trading after the latest batch of weak reports renewed fears that the economy was slowing down. Sales of new homes fell to their lowest pace on record in July, and durable goods orders were also weak.

But after four straight days of avoiding risk, traders began edging out of safe assets like Treasurys and back into stocks. The Dow ended with a gain of 19.61 points, or 0.2 percent, at 10,060.06.

The back-and-forth trading pattern has been typical of the volatility seen on the market in recent weeks, which has been exacerbated by very low trading volumes as investors take summer vacations.

"We rally, we sell off. We rally, we sell off," said Sandy Mehta, principal and chief investment officer of Value Investment Principals. "It's just the nature of the market right now."

Broader market barometers also rose. The Standard & Poor's 500 rose 3.46, or 0.3 percent, to 1,055.33, while the Nasdaq rose 17.78, or 0.8 percent, to 2,141.54.

About three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to a relatively low 4.4 billion shares, versus 4.5 billion shares the day before.

Interest rates initially fell in the bond market following the disappointing economic data, but rose steadily throughout much of the day as traders exited some of their Treasury positions and became more willing to pick up riskier assets.

Oil prices also rose, in another sign that traders are less concerned about finding safe assets. Crude rose more than $1 off its low for the day to settle at $72.52 a barrel.

The yield on the 10-year Treasury note fell as low as 2.42 percent during morning trading before climbing back to 2.54 percent. That yield helps set interest rates on mortgages and other consumer loans.

Overseas, Japanese shares fell again after the yen hit a new 15-year high against the dollar and a nine-year high against the euro. The high yen hurts profitability at major Japanese exporters. Japan's Nikkei stock average fell 1.7 percent. European markets were also lower.

9488


----------



## bigdog

Source: http://finance.yahoo.com

The Dow fell 140.92, or 1.4 percent, to close at 10,009.73. The Standard & Poor's 500 index fell 15.67, or 1.5 percent, to 1,048.92, while the Nasdaq composite index fell 33.66, or 1.6 percent, to 2,119.97.

Stocks fell in thin trading Monday after more signs of slowing economic growth got investors worried ahead of a key report on jobs later this week.

The Dow Jones industrial average lost ground throughout the day and closed with a loss of 141 points. Other indexes also fell more than 1 percent. Bond prices rose, sending interest rates lower, as money moved back into the Treasury market.

The latest cause for worry on the economy came in a report early Monday showing that personal incomes rose less than expected in July. That added to a series of discouraging economic indicators recently suggesting that growth could slow down in the second half of the year.

*The NYSE DOW closed LOWER  -140.92  points -1.39% on Monday August 30*
Sym. Last......... ........Change..........
Dow 10,009.73 -140.92 -1.39% 
Nasdaq 2,119.97 -33.66 -1.56% 
S&P 500 1,048.92 -15.67 -1.47% 
30-yr Bond 3.6020% -0.9600 

NYSE Volume 3,401,901,750  (prior day 4,295,823,500)
Nasdaq Volume 1,614,811,120 (prior day 2,169,649,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,201.56 closed for holiday 
DAX 5,912.41 -38.76 -0.65% 
CAC 40 3,487.01 -20.43 -0.58% 

*Asia*
Symbol...... Last...... .....Change
Nikkei 225 9,149.26 +158.20 +1.76% 
Hang Seng 20,737.22 +139.87 +0.68% 
Straits Times 2,957.06 +18.32 +0.62% 

http://finance.yahoo.com/news/Stocks-drop-as-investors-apf-4071777060.html?x=0

*Stocks drop as investors enter week cautiously

Stocks fall as traders cautious ahead of monthly jobs report; personal spending inches higher *

Stephen Bernard, AP Business Writer, On Monday August 30, 2010, 5:31 pm 

NEW YORK (AP) -- Stocks fell in thin trading Monday after more signs of slowing economic growth got investors worried ahead of a key report on jobs later this week.

The Dow Jones industrial average lost ground throughout the day and closed with a loss of 141 points. Other indexes also fell more than 1 percent. Bond prices rose, sending interest rates lower, as money moved back into the Treasury market.

The latest cause for worry on the economy came in a report early Monday showing that personal incomes rose less than expected in July. That added to a series of discouraging economic indicators recently suggesting that growth could slow down in the second half of the year.

"The personal income report did little to ease the nervousness about the trajectory of the economy," said Alan Gayle, senior investment strategist at RidgeWorth Investments. The report did show spending was up in July, but without consistent growth in income, any increase in spending is likely temporary, Gayle said.

Investors have been focusing on employment data as a way of predicting where the economy is going. Signs of a slowdown in growth has plagued the market for more than a month. Investors are unsure if companies will be able to keep up strong earnings growth if the recovery runs out of steam or falls back into recession.

"You have to prepare for slower growth," said Mark Tepper, managing partner at Strategic Wealth Partners. "As consumer spending goes down, businesses will experience lower earnings."

Investors have been betting in recent weeks that the weaker economic reports will translate into smaller earnings than previously thought. That, in turn, has helped drive stocks lower to match the diminished expectations.

The Dow fell 140.92, or 1.4 percent, to close at 10,009.73. The Standard & Poor's 500 index fell 15.67, or 1.5 percent, to 1,048.92, while the Nasdaq composite index fell 33.66, or 1.6 percent, to 2,119.97.

About four stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume was anemically low at 2.9 billion shares.

The yield on the 10-year Treasury note, which moves opposite its price, fell to 2.53 percent from 2.65 percent late Friday. That yield helps set interest rates on mortgages and other consumer loans.

Biotechnology company Genzyme said Sanofi-Aventis' $69 per share offer undervalues the company. Genzyme shares jumped $2.29, or 3.4 percent, to $69.91, while Sanofi fell 29 cents to $28.63.

Cogent jumped $2.18, or 24.4 percent, to $11.09 after manufacturer 3M said it would buy the maker of fingerprint scanners for $10.50 a share. Shares of 3M dipped $1.35 to $79.65.

Hewlett-Packard said it plans to repurchase $10 billion in stock. The computer company plans to buy back shares, in part, to offset dilution from employee stock plans. Hewlett-Packard shares rose 56 cents to $38.56.

Stocks have largely been moving on major economic reports and less on individual corporate news during the past month. Because the Labor Department's monthly employment report doesn't come until Friday, investors will look for signs earlier in the week about the jobs market. A report on private employment comes out Wednesday, and first-time claims for unemployment insurance for last week will come out on Thursday.

On Monday, the Commerce Department said personal income rose 0.2 percent last month, falling below economists' forecast for 0.3 percent growth, according to Thomson Reuters.

Japanese markets surged after the country's central bank approved new stimulus measures aimed at sparking growth and putting the brakes on a strengthening yen. The yen recently hit a 15-year high against the dollar, which hurts Japanese manufacturers, like Sony Corp., Panasonic Corp. and Toyota Motor Corp., that rely heavily on exports. Japan's Nikkei stock average rose 1.8 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The stock market ended its worst August since 2001 with meager gains Tuesday after minutes from the latest Federal Reserve meeting showed officials' increasing concern about the economy.

Stock indexes gave up most of their gains in mid-afternoon after the release of minutes from the Fed's Aug. 10 meeting. Fed officials said during their discussions that they recognized that the economy might need further stimulus beyond the purchases of government debt the central bank announced that day. Some of the officials acknowledged that economy had softened more than they had anticipated.

The Dow Jones industrial average ended with a gain of 5 points, having been up 64 following a reading on consumer confidence in August that came in stronger than expected. Stocks fell sharply for much of August after a series of reports suggested that the recovery has weakened.

The S&P 500, the measure used most by stock market professionals, finished August with a loss of 4.7 percent. It was the S&P 500's worst showing for the month since August 2001, when it lost 6.4 percent as the dot-com bubble collapsed. Year-to-date, the S&P 500 is down 5.9 percent.

Other market indicators also had dismal performances in August, having surged ahead in July on a series of strong earnings reports. The Dow lost 4.3 percent in August, while the Nasdaq lost 6.2 percent.

*The NYSE DOW closed HIGHER +4.99  points +0.05% on Tuesday September 1*
Sym. Last......... ........Change..........
Dow 10,014.72 +4.99 +0.05% 
Nasdaq 2,114.03 -5.94 -0.28% 
S&P 500 1,049.33 +0.41 +0.04% 
30-yr Bond 3.5330% -0.6900 

NYSE Volume 5,084,518,500  (prior day 3,401,901,750)
Nasdaq Volume 2,140,087,000   (prior day 1,614,811,120)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,225.22 +23.66 +0.45% 
DAX 5,925.22 +12.81 +0.22% 
CAC 40 3,490.79 +3.78 +0.11% 

*Asia*
Symbol...... Last...... .....Change
Nikkei 225 8,824.06 -325.20 -3.55% 
Hang Seng 20,536.49 -200.73 -0.97% 
Straits Times 2,950.33 -6.73 -0.23% 

http://finance.yahoo.com/news/Stock...=0&sec=topStories&pos=1&asset=&ccode=#Scene_1

*Stocks end a brutal August with meager gains

Stock market closes out its worst August since '01 with meager gains* 

Stephen Bernard and Bernard Condon, AP Business Writer, On Tuesday August 31, 2010, 5:22 pm 

NEW YORK (AP) -- The stock market ended its worst August since 2001 with meager gains Tuesday after minutes from the latest Federal Reserve meeting showed officials' increasing concern about the economy.

Stock indexes gave up most of their gains in mid-afternoon after the release of minutes from the Fed's Aug. 10 meeting. Fed officials said during their discussions that they recognized that the economy might need further stimulus beyond the purchases of government debt the central bank announced that day. Some of the officials acknowledged that economy had softened more than they had anticipated.

The Dow Jones industrial average ended with a gain of 5 points, having been up 64 following a reading on consumer confidence in August that came in stronger than expected. Stocks fell sharply for much of August after a series of reports suggested that the recovery has weakened.

The S&P 500, the measure used most by stock market professionals, finished August with a loss of 4.7 percent. It was the S&P 500's worst showing for the month since August 2001, when it lost 6.4 percent as the dot-com bubble collapsed. Year-to-date, the S&P 500 is down 5.9 percent.

Some traders said there was disappointment that the Fed wasn't pessimistic enough to consider quicker steps to stimulate that economy.

Dan Cook, senior market analyst with the brokerage firm IG Markets, said the minutes gave a picture of a cautious and conservative Fed. While officials acknowledged the economy's problems, they chose to take only small, initial steps. Traders who have hoped the Fed would be more aggressive to stimulate the economy soon aren't so sure now that the central bank will act.

"People are thinking maybe we need more of a downturn before the Fed will jump in," Cook said. Unlike traders, he said, "the Fed moves like a glacier."

The Dow rose 4.99, or 0.05 percent, to close at 10,014.72.

Broader indexes were mixed. The Standard & Poor's 500 index edged up 0.41, or 0.04 percent, to 1,049.33. The Nasdaq composite index fell 5.94, or 0.3 percent, to 2,114.03.

Other market indicators also had dismal performances in August, having surged ahead in July on a series of strong earnings reports. The Dow lost 4.3 percent in August, while the Nasdaq lost 6.2 percent.

Rising stocks outpaced falling ones by about 4 to 3 on the New York Stock Exchange, where volume came to 1.4 billion shares.

Volume has been very light in recent days, which can exaggerate movements in the market.

"The low volume (is a sign) there's not a lot of belief on either side," said John Merrill, chief investment officer at Tanglewood Wealth Management. The market "is treading water as people are looking for a discernible trend."

Treasury prices rose, sending their yields lower, as cautious investors put money back into bonds. The yield on the 10-year Treasury note, which helps set interest rates on mortgages and other kinds of loans, fell to 2.47 percent from 2.53 percent late Monday.

A weaker reading on manufacturing activity in the Midwest Tuesday was the latest report to follow the negative trend. The drop in the Chicago Purchasing Managers Index was similar to declines seen in other regional manufacturing reports earlier this month.

Some investors worry that the signals of weakness in the economy emerging recent weeks could suggest a slowdown throughout the second half of the year and possibly even a dip back into recession.

Joseph Battipaglia, market strategist at Stifel Nicolaus & Co., said the drop in August matters less than what caused it: signs that economic growth is slowing, or worse.

"The evidence suggests we're going into a recession," he said. "The S&P has held nicely north of 1,000 but we'll break through it."

Overseas, Japanese stocks were hammered as the yen hovers near a 15-year high against the dollar. Many Japanese companies like Sony, Panasonic and Toyota rely heavily on exports, so a stronger yen cuts into their profits. Japan's Nikkei stock average tumbled to a 16-month low, falling 3.6 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The fear that has been hanging over markets for most of August lifted on Wednesday. For how long remains anyone's guess.

The stock market started September with a jolt, turning sharply higher after a pair of encouraging reports on manufacturing sent investors seeking out riskier investments. Prices for the safest assets -- Treasurys, gold and the dollar -- all fell.

With investors suddenly willing to embrace risk, the Dow Jones industrial average added 255 points, its best day since July 7. All 30 stocks in the Dow closed higher. That marked a sharp break from August, when the market's most widely used index turned in its worst performance for the month in nine years.

Reports of stronger-than-expected manufacturing growth in China and the U.S snapped a run of discouraging data on the economy, including dismal readings on home sales and economic output. The Institute for Supply Management said manufacturing activity in the U.S. rose in August, in contrast to regional reports from recent weeks that pointed to a slowdown.

*The NYSE DOW closed HIGHER +254.75 points +2.54% on Wednesday September 1*
Sym. Last......... ........Change..........
Dow 10,269.47 +254.75 +2.54% 
Nasdaq 2,176.84 +62.81 +2.97% 
S&P 500 1,080.29 +30.96 +2.95% 
30-yr Bond 3.6620% +1.2900 

NYSE Volume 5,205,715,500  (prior day 5,084,518,500)
Nasdaq Volume 2,168,581,000  (prior day 2,140,087,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,366.41 +141.19 +2.70% 
DAX 6,083.90 +158.68 +2.68% 
CAC 40 3,623.84 +133.05 +3.81% 

*Asia*
Symbol...... Last...... .....Change
Nikkei 225 8,927.02 +102.96 +1.17% 
Hang Seng 20,623.83 +87.34 +0.43% 
Straits Times 2,982.83 +32.50 +1.10% 

http://finance.yahoo.com/news/Stock-market-kicks-off-apf-2476999796.html?x=0

*Markets start September with a bang; Dow up 255

Stocks start month with a big rally after signs of growth in US, Chinese manufacturing *

Stephen Bernard, AP Business Writer, On Wednesday September 1, 2010, 6:11 pm 

NEW YORK (AP) -- The fear that has been hanging over markets for most of August lifted on Wednesday. For how long remains anyone's guess.

The stock market started September with a jolt, turning sharply higher after a pair of encouraging reports on manufacturing sent investors seeking out riskier investments. Prices for the safest assets -- Treasurys, gold and the dollar -- all fell.

With investors suddenly willing to embrace risk, the Dow Jones industrial average added 255 points, its best day since July 7. All 30 stocks in the Dow closed higher. That marked a sharp break from August, when the market's most widely used index turned in its worst performance for the month in nine years.

Reports of stronger-than-expected manufacturing growth in China and the U.S snapped a run of discouraging data on the economy, including dismal readings on home sales and economic output. The Institute for Supply Management said manufacturing activity in the U.S. rose in August, in contrast to regional reports from recent weeks that pointed to a slowdown.

"It gives up hope that things may not be as bad as they seem," said Zahid Siddique, an associate portfolio manager at Gabelli Equity Trust Inc.

The Dow gained 254.75 points, or 2.5, percent to close at 10,269.47. Industrial stocks such as General Electric Co. and Caterpillar Inc. were among the Dow's biggest gainers.

Analysts cautioned that the gains, like many others the market has seen in recent weeks, could quickly pass. A bad surprise from the Labor Department's monthly report on employment, due out Friday, could investors back into hiding.

The good news on manufacturing "gives some comfort, but that is only good until the next number," said Darell Krasnoff, managing director at Bel Air Investment Advisors.

Even with its gains Wednesday, the Dow is still 989 points below its high this year of 11,258 reached on April 26. Nearly half of those losses, or 451 points, came in August as the market was bombarded with bad news on the economy.

Daniel Penrod, senior industry analyst at the California Credit Union League, said manufacturing reports have become increasingly important because they are a leading indicator for whether companies might start adding new jobs.

"If manufacturers ramp up ... it's going to require hiring," Penrod said. "Getting closer to that threshold (of hiring) is vital to the economy."

The Standard & Poor's 500 index rose 30.96, or 3 percent, to 1,080.29. The S&P 500 lost 4.7 percent in August, its worst showing for the month since 2001, when the dot-com bubble was imploding. The Nasdaq gained 62.81, or 3 percent, to 2,176.84.

About six stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 4.5 billion shares.

Safety assets fell broadly. Gold slipped $2.20 to settle at $1,248.10 an ounce. The yield on the 10-year Treasury note, which moves opposite its price, fell to 2.58 percent from 2.47 percent late Tuesday. The yield on government debt anchors borrowing rates for a wide variety of consumer and business loans.

In corporate news, Burger King Holdings Inc. jumped $2.41, or 14.7 percent, to $18.86 on reports it could be taken private. Apple Inc. shares rose $7.23, or 3 percent, to $250.33 after CEO Steve Jobs announced a new line of iPods.

GE rose 53 cents, or 3.7 percent, to $15.01. Eaton Corp. climbed $5.38, or 7.7 percent, to $74.86.

AP Business Writer Matthew Craft contributed to this story.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks rose Thursday, extending their gains from the day before, after reports on housing, manufacturing and jobs all indicated that the economy continues to grow.

The Dow Jones industrial average rose 50 points, having jumped 254 on Wednesday thanks to strong reports on manufacturing in the U.S. and China. Broader indexes also rose.

Trading was somewhat muted ahead of the government's closely watched monthly report on employment due out Friday.

*The NYSE DOW closed HIGHER +50.63 points +0.49% on Thursday September 2*
Sym. Last......... ........Change..........
Dow 10,320.10 +50.63 +0.49% 
Nasdaq 2,200.01 +23.17 +1.06% 
S&P 500 1,090.10 +9.81 +0.91% 
30-yr Bond 3.7260% +0.6400 

NYSE Volume 4,269,797,500  (prior day 5,205,715,500)
Nasdaq Volume 1,692,405,880  (prior day 2,168,581,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,371.04 +4.63 +0.09% 
DAX 6,083.85 -0.05 -0.00% 
CAC 40 3,631.43 +7.59 +0.21% 

*Asia*
Symbol...... Last...... .....Change
Nikkei 225 9,062.84 +135.82 +1.52% 
Hang Seng 20,868.92 +245.09 +1.19% 
Straits Times 2,986.66 +3.83 +0.13% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=6&asset=&ccode=

*Stocks move higher following jobs, housing reports

Stocks rise after pending home sales, factory orders rise and unemployment claims dip *

Stephen Bernard, AP Business Writer, On Thursday September 2, 2010, 4:19 pm 

NEW YORK (AP) -- Stocks rose Thursday, extending their gains from the day before, after reports on housing, manufacturing and jobs all indicated that the economy continues to grow.

The Dow Jones industrial average rose 50 points, having jumped 254 on Wednesday thanks to strong reports on manufacturing in the U.S. and China. Broader indexes also rose.

Trading was somewhat muted ahead of the government's closely watched monthly report on employment due out Friday.

"We're treading water," said Dan Genter, CEO of RNC Genter Capital. Traders are waiting to see if Friday's jobs data "provides more of a rescue or a shark attack."

The monthly report is likely to provide further evidence that the jobs market remains weak. Economists polled by Thomson Reuters predict the unemployment rate inched up to 9.6 percent last month from 9.5 percent in July as private employers hired just 41,000 workers last month.

With little broad conviction about the health of the economy, investors chose to target specific stocks following monthly retail sales reports and the latest acquisition activity.

"It's a trader's market," said Kenneth Polcari, managing director at ICAP Equities.

Burger King Holdings Inc. and data storage provider 3Par Inc. both rose after agreeing to be acquired. Limited Brands Inc., which operates Victoria's Secret and Bath & Body Works, got a lift from strong August sales.

According to preliminary calculations, the Dow Jones industrial average rose 50.63, or 0.5 percent, to 10,320.10.

The Standard & Poor's 500 index rose 9.81, or 0.9 percent, to 1,090.10, while the Nasdaq composite index rose 23.17, or 1.1 percent, to 2,200.01.

The Labor Department said first-time claims for unemployment benefits fell slightly last week, but remain well above levels that indicate a healthy economy. Claims dipped for the second straight week. They fell slightly below the level economists had forecast, which was somewhat encouraging ahead of Friday's monthly employment report.

The number of buyers who signed contracts to purchase homes rose 5.2 percent in July after hitting a record low in June, according to the National Association of Realtors. Sales plummeted in the months following the expiration of the government's home buyer tax credit in April and economists were expecting that trend to continue for a third straight month.

Factory orders also climbed, rising 0.1 percent in July. The rise in orders backs up a report Wednesday showing the manufacturing sector continues to expand. Major indexes jumped more than 2 percent Wednesday after a surprising rise in manufacturing activity.

About two stocks rose for every one that fell on the New York Stock Exchange, where volume was light at 960 million shares.

Bond prices dipped after the economic reports. The yield on the 10-year Treasury note, which moves opposite its price, rose to 2.63 percent from 2.58 percent late Wednesday. That yield helps set interest rates on mortgages and other consumer loans.

Limited shares jumped $1.46, or 6.0 percent, to $25.73.

Shares of 3Par rose 79 cents, or 2.5 percent, to $32.87 after Hewlett-Packard Co. won a bidding war for the data storage provider. Hewlett-Packard raised its bid to $33 per share after competitor Dell Inc. offered $32 per share.

Burger King jumped $4.72, or 25 percent, to $23.58. It is being taken private for $3.26 billion, or $24 per share.

Mariner Energy Inc. shares dropped after an oil rig it owns exploded in the Gulf of Mexico. The rig was not currently producing oil. Its shares fell 59 cents to $22.76.


----------



## bigdog

Source: http://finance.yahoo.com

For the week, the Dow is up 2.9 percent, while the S&P 500 and the Nasdaq are both up 3.7 percent. It was the first week of gains in a month for both the Dow and S&P.

The stock market had its first winning week in a month thanks to better news on the economy.

The Dow Jones industrial average jumped 128 points Friday, its fourth straight day of gains. The strong start to September marked a turnaround from a dismal performance in August.

A better-than-expected report on employment Friday was the latest piece of improving news on the economy. Stocks also gained earlier this week following signs that manufacturing was gaining in the U.S. and China.

Even after its four-day run, which added 438 points to the Dow, the index is still 6.8 percent below the 2010 high it reached on April 26. Stocks had eased slightly after a report showed that the services sector didn't grow as fast as hoped in August.

*The NYSE DOW closed HIGHER +127.83  points +1.24% on Friday September 3*
Sym. Last......... ........Change..........
Dow 10,447.93 +127.83 +1.24% 
Nasdaq 2,233.75 +33.74 +1.53% 
S&P 500 1,104.51 +14.41 +1.32% 
30-yr Bond 3.7830% +0.5700 

NYSE Volume 4,157,451,750 (prior day  4,269,797,500)
Nasdaq Volume 1,662,947,500  (prior day 1,692,405,880)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,428.15 +57.11 +1.06% 
DAX 6,134.62 +50.77 +0.83% 
CAC 40 3,672.20 +40.77 +1.12% 

*Asia*
Symbol...... Last...... .....Change
Nikkei 225 9,114.13 +51.29 +0.57% 
Hang Seng 20,971.50 +102.58 +0.49% 
Straits Times 2,993.99 +7.33 +0.25% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks extend September rally after jobs report

Stocks have their first winning week in a month on stronger economic data *

Stephen Bernard, AP Business Writer, On Friday September 3, 2010, 5:37 pm

NEW YORK (AP) -- The stock market had its first winning week in a month thanks to better news on the economy.

The Dow Jones industrial average jumped 128 points Friday, its fourth straight day of gains. The strong start to September marked a turnaround from a dismal performance in August.

A better-than-expected report on employment Friday was the latest piece of improving news on the economy. Stocks also gained earlier this week following signs that manufacturing was gaining in the U.S. and China.

Even after its four-day run, which added 438 points to the Dow, the index is still 6.8 percent below the 2010 high it reached on April 26. Stocks had eased slightly after a report showed that the services sector didn't grow as fast as hoped in August.

The Labor Department said private employers added 67,000 jobs in August, more than analysts polled by Thomson Reuters had forecast. But that's still a far cry from what economists say is a healthy level for the economy.

"We need to get that number over 100,000 to feel comfortably that we won't slip back into recession," said Bill Hampel, chief economist for the Credit Union National Association. "We need it over 150,000 to feel confident we have a nice, sustainable recovery."

The Dow closed up 127.83, or 1.2 percent, at 10,447.93.

Broader indexes also rose. The Standard & Poor's 500 Index rose 14.41, or 1.3 percent, to 1,104.51, while the Nasdaq composite index rose 33.74, or 1.5 percent, to 2,233.75.

About three stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume was relatively light at 3.6 billion shares.

Bond prices fell as sentiment on the economy improved, sending interest rates higher. The yield on the 10-year Treasury note jumped to 2.71 percent from 2.63 percent late Thursday. Its yield is often used as a gauge to set interest rates on mortgages and other consumer loans.

Investors have received more encouraging reports on the economy over the past three days than they did throughout August, when data regularly fell short of the market's already modest expectations. Reports beginning with Wednesday's manufacturing data touched off a rally at the beginning of September, which is historically a bad month for stocks.

There were other encouraging signs in the employment report Friday, including revisions to June and July's reports that showed the economy added more jobs than the government previously said.

More than a half-million Americans resumed their job searches in August. That drove up the unemployment rate to 9.6 percent from 9.5 percent, but it could also be a sign that more people are hopeful about the recovery.

For the week, the Dow is up 2.9 percent, while the S&P 500 and the Nasdaq are both up 3.7 percent. It was the first week of gains in a month for both the Dow and S&P.

The S&P 500, the market gauge most used by professional investors, lost 4.7 percent in July on a string of disappointing economic news. That was the worst August performance for the index since 2001, when the dot-com bubble was bursting.

The Institute for Supply Management said the services sector continued to expand in August, but that growth slowed sharply from the previous month and more than economists predicted. The services sector, which accounts for 80 percent of jobs in the country, has not recovered as strongly as manufacturing.

9939


----------



## bigdog

Source: http://finance.yahoo.com

*The NYSE DOW was closed for labor day holiday on Monday September 6*
Sym. Last......... ........Change..........
Dow 10,447.93  
Nasdaq 2,233.75
S&P 500 1,104.51 
30-yr Bond 3.7830% 

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,439.19 +11.04 +0.20% 
DAX 6,155.04 +20.42 +0.33% 
CAC 40 3,684.73 +12.53 +0.34% 

*Asia*
Symbol...... Last...... .....Change
Nikkei 225 9,301.32 +187.19 +2.05% 
Hang Seng 21,355.77 +384.27 +1.83% 
Straits Times 3,034.58 +32.02 +1.07 

http://finance.yahoo.com/news/Growth-hopes-boost-global-rb-1305560269.html?x=0

*Growth hopes boost global equities*

On Monday September 6, 2010, 12:40 pm EDT 
By Jeremy Gaunt, European Investment Correspondent

LONDON (Reuters) - World stocks rose on Monday on hopes the U.S. economy can avoid slipping back into recession, although the International Monetary Fund's chief economist warned of weak growth in both the United States and Europe.

With U.S. markets closed for the Labour Day holiday, Friday's encouraging news about the employment picture continued to spill over into trading on Monday.

Some investors, particularly in Asia, were catching up with the U.S. jobs numbers, which were not as bad as some had feared. The slowing of the world's largest economy has been one of the major factors holding investors back over recent months.

MSCI's all-country world stock index (^MIWD00000PUS - News) and its Thomson Reuters counterpart (^TRXFLDGLPU - News) were up more than 0.4 percent at the European close after a nearly 3.7 percent gain for the MSCI last week.

Europe's FTSEurofirst 300 (^FTEU3 - News) closed slightly higher, up 0.2 percent.

The jobs data was supportive, but utilities shares topped the gainers list after Chancellor Angela Merkel's coalition government agreed to a two-tier extension of the life spans of German nuclear power plants on Sunday.

Trading was also thin because U.S. markets are closed for Labor Day.

Japan's Nikkei (Osaka:^N225 - News) earlier closed up 2.05 percent.

"After a string of disappointing numbers, the data last week provided an element of stability and helped increase risk appetite," said Henk Potts, equity strategist at Barclays Wealth.

"When you couple that with the outlook for corporates, it looks pretty good."

The latest corporate earnings season has been relatively strong in both the United States and Europe while merger and acquisition activity in August was the most robust for the month since 1999.

DOLLAR DIPS

The dollar was generally weaker with the euro rising for a time to its highest in three weeks before easing back.

"We are seeing some relief from fears about a double-dip recession in the U.S. helping risk sentiment and the euro," said Gareth Berry, currency strategist at UBS. "But whether this sentiment can be sustained or not is difficult to say."

IMF chief economist Olivier Blanchard told France's Le Figaro that a U.S. slowdown would have an automatic impact on growth in Asia in the short term but "decoupling" between developing and rich economies is possible in the medium term.

The euro was at $1.2885, having risen to $1.2918 earlier in the day, its highest since August 12.

The dollar index, a gauge of the greenback's performance against a basket of six major currencies, was down 0.1 percent (^DXY - News) and the dollar fell slightly to 84.17 yen, not far from a 15-year low of 83.58 hit late last month.

Euro zone government bond yields were flat to higher.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks closed lower Tuesday following new worries about Europe's debt problems. Treasury prices rose and gold settled at a new high as investors sought out safe assets.

U.S. stocks followed European markets lower after news reports said banks in Europe may have more risky government debt on their books than was disclosed during "stress tests" earlier this year. That could mean fees from regulators and more capital-raising by the banks to bolster their balance sheets.

Shares of major European banks including Barclays PLC and UBS fell, and the dollar rose against the euro.

*The NYSE DOW closed LOWER -107.24 points -1.03% on Tuesday September 7*
Sym. Last......... ........Change..........
Dow 10,340.69 -107.24 -1.03% 
Nasdaq 2,208.89 -24.86 -1.11% 
S&P 500 1,091.84 -12.67 -1.15% 
30-yr Bond 3.6690% -1.1400 

NYSE Volume 3,382,589,750  (prior day 4,157,451,750)
Nasdaq Volume 1,707,358,250  (prior day 1,662,947,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,407.82 -31.37 -0.58% 
DAX 6,117.89 -37.15 -0.60% 
CAC 40 3,643.81 -40.92 -1.11% 

*Asia*
Symbol...... Last...... .....Change
Nikkei 225 9,226.00 -75.32 -0.81% 
Hang Seng 21,401.79 +46.02 +0.22% 
Straits Times 3,036.09 +1.51 +0.05% 

http://finance.yahoo.com/news/Stocks-fall-as-worries-about-apf-1083445120.html?x=0

*Stocks fall as worries about European debt return

Stocks start holiday-shortened week with a loss on more worries about European banks* 

Stephen Bernard, AP Business Writer, On Tuesday September 7, 2010, 5:37 pm 

NEW YORK (AP) -- Stocks closed lower Tuesday following new worries about Europe's debt problems. Treasury prices rose and gold settled at a new high as investors sought out safe assets.

U.S. stocks followed European markets lower after news reports said banks in Europe may have more risky government debt on their books than was disclosed during "stress tests" earlier this year. That could mean fees from regulators and more capital-raising by the banks to bolster their balance sheets.

Shares of major European banks including Barclays PLC and UBS fell, and the dollar rose against the euro.

"The soundness of stress tests are, and continue to be, in question," said Brian O'Reilly, president of the Collingwood Group. Uncertainty about the tests could be a drag on the market until European regulators provide some more transparency about exactly what figures were included in the test, O'Reilly said.

The reports renewed worries about European government debt, which had flared up earlier this year following a fiscal crisis in Greece that spread to other weak European economies and helped bring stocks down worldwide.

Stocks had been doing well last week, rallying on improved news about job growth and gains in manufacturing in the U.S. and China. The better economic news helped the market end higher for the week, breaking three straight weeks of losses.

Many investors still have faith the economy is growing, but the pace of that growth is in question. Economic reports have been inconsistent, leaving traders overreacting to every bit of news, said James Angel, professor of finance at Georgetown University's McDonough School of Business.

"What it's going to take to keep (a rally) going is more good news," said Angel said.

The Dow Jones industrial average fell 107.24 points, or 1.0 percent, to close at 10,340.69.

Broader indexes also fell, making for a weak start to a week shortened by the Labor Day holiday on Monday. The Standard & Poor's 500 index lost 12.67, or 1.1 percent, to 1,091.84, while the Nasdaq composite index fell 24.86, or 1.1 percent, to 2,208.89.

About three stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume was very light at 3.2 billion shares.

Volume often starts to pick back up after Labor Day when traders return from summer vacations. But Brian Peardon, a wealth adviser at Harrison Financial Group, said many investors might continue to stay out of the market even when they get back because of uncertainty about the global economy.

"It's very tough for the public to decipher what's happening," Peardon said.

Uncertain investors continue to pour money into Treasurys. The yield on the 10-year Treasury note, which moves opposite its price, fell to 2.60 percent from 2.71 percent late Friday. Its yield is often used as a gauge to set interest rates on mortgages and other consumer loans.

Gold also rose as investors took money out of stocks and sought out other assets seen as having more stable value. Gold for December delivery rose $8.20 to settle at $1,259.30 an ounce.

Several reports later this week could shed more light on the U.S. economy including the "beige book" report from the Federal Reserve coming out on Wednesday and weekly unemployment numbers due out on Thursday.

Shares of Swiss bank UBS dropped 53 cents, or 2.9 percent, to $17.52. Spanish bank Banco Santander fell 48 cents, or 3.8 percent, to $12.20.

Barclays fell $1.15, or 5.7 percent, to $19.13. The British bank also announced Robert E. Diamond Jr., who built the company's global investment bank, will take over as CEO next year.

European markets ended lower. Britain's FTSE 100 fell 0.6 percent, Germany's DAX index dropped 0.6 percent, and France's CAC-40 fell 1.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks resumed their rally Wednesday after a successful auction of Portuguese government debt eased worries about Europe's financial system.

The Dow Jones industrial average gained 46 points, and broader indexes also rose. European markets reversed their losses after the results of the auction were announced.

Major indexes pulled back from their highs in the afternoon after the Federal Reserve said more regions of the country saw slower growth late in the summer. The Fed's "beige book" report on regional economic activity showed five of the 12 regions tracked by the Fed showed mixed or slowing activity compared with just two during the most recent report in July.

*The NYSE DOW closed HIGHER  +46.32 points +0.45% on Wednesday September 8*
Sym. Last......... ........Change..........
Dow 10,387.01 +46.32 +0.45% 
Nasdaq 2,228.87 +19.98 +0.90% 
S&P 500 1,098.87 +7.03 +0.64% 
30-yr Bond 3.7230% +0.5400 

NYSE Volume 3,518,623,000  (prior day 3,382,589,750)
Nasdaq Volume 2,029,450,875  (prior day 1,707,358,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,429.74 +21.92 +0.41% 
DAX 6,164.44 +9.40 +0.15% 
CAC 40 3,677.21 +33.40 +0.92% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,024.60 -201.40 -2.18% 
Hang Seng 21,088.86 -312.93 -1.46% 
Straits Times 3,011.42 -24.67 -0.81%

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks resume rally as European debt worries ease

Easing worries about Europe's financial system send stocks higher *

Stephen Bernard, AP Business Writer, On Wednesday September 8, 2010, 5:57 pm 

NEW YORK (AP) -- Stocks resumed their rally Wednesday after a successful auction of Portuguese government debt eased worries about Europe's financial system.

The Dow Jones industrial average gained 46 points, and broader indexes also rose. European markets reversed their losses after the results of the auction were announced.

Major indexes pulled back from their highs in the afternoon after the Federal Reserve said more regions of the country saw slower growth late in the summer. The Fed's "beige book" report on regional economic activity showed five of the 12 regions tracked by the Fed showed mixed or slowing activity compared with just two during the most recent report in July.

JPMorgan Chase & Co. and other banks led the market higher, reversing a downturn from the day before. Stocks had fallen on Tuesday, breaking a four-day winning streak, following news reports that European banks held larger amounts of risky government debt on their books than had previously been disclosed.

Energy stocks rose after Fitch Ratings raised its credit rating of BP. BP also released an internal report that largely spread blame from the oil spill in the Gulf of Mexico to rig owner Transocean Ltd. and contractor Halliburton Co. as well as itself.

The Dow Jones industrial average gained 46.32, or 0.5 percent, to close at 10,387.01. The Dow had been up as much as 86 points earlier in the day before paring those gains after the Fed's regional economic report came out.

The S&P 500 index rose 7.03 or 0.6 percent, to 1,098.87, while the Nasdaq rose 19.98, or 0.9 percent, to 2,228.87

The two-day swing based on the ebb and flow of European debt fears fit into a pattern of jittery trading in recent weeks in response to economic news.

"There seems to be a fixation on the latest news and data," said Mike McGervey, president of McGervey Wealth Management. Mixed economic news has helped keep stocks stuck in a tight range in recent weeks.

European markets rose. Britain's FTSE 100 rose 0.4 percent, Germany's DAX index gained 0.8 percent, and France's CAC-40 rose 0.9 percent.

About two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume was low at 3.3 billion shares.

Volume remains very thin, which means many traders are avoiding stocks altogether. Many investors are waiting to get a better sense of the pace of recovery and to see what might happen during November's elections.

Rick Fier, an equities trader at Conifer Securities, said the elections more than the economy are likely to be the catalyst that moves the market higher in the coming months. Traders are assuming that the recovery will be slow and uneven, but growth will remain in place over the next few months, he said.

Uncertainty about potential tax increases and the costs associated with health care and financial regulatory reform have helped to keep businesses from hiring, which in turn has slowed the recovery. The results of the elections should provide businesses and investors with a clearer sense of those issues.

In corporate news, women's clothing retailer Talbots Inc. said its fiscal second quarter profit rose, but its outlook for the third quarter fell short of expectations. Shares dropped 14 cents to $10.97 on the cautious outlook.

BP shares rose $1.18, or 3.2 percent, to $38.37. Halliburton rose 37 cents to $30.21. JPMorgan Chase rose 86 cents, or 2.3 percent, to $39.14.

Treasury prices bounced off their lows after an auction for 10-year notes was well received by investors. The yield on the 10-year Treasury note, which moves opposite its price, rose to 2.66 percent from 2.60 percent late Tuesday. Its yield helps set interest rates on mortgages and other loans.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks extended their September rally Thursday following more encouraging news on the job market.

The Dow Jones industrial average rose 28 points after the Labor Department said first-time claims for unemployment benefits fell last week to the lowest level in two months. In another hopeful sign on the economy, the trade deficit narrowed in July.

Stocks pared their gains in the afternoon after a report came out saying Deutsche Bank is considering raising new money through a stock sale in what could be another troubling sign for European banks. Trading volume was very light.

*The NYSE DOW closed HIGHER +28.23points +0.27% on Thursday September 9*
Sym. Last......... ........Change..........
Dow 10,415.24 +28.23 +0.27% 
Nasdaq 2,236.20 +7.33 +0.33% 
S&P 500 1,104.18 +5.31 +0.48% 
30-yr Bond 3.8450% +1.2200 

NYSE Volume 3,545,952,500 (prior day  3,518,623,000)
Nasdaq Volume 1,719,498,500  (prior day  2,029,450,875)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,494.16 +64.42 +1.19% 
DAX 6,221.52 +57.08 +0.93% 
CAC 40 3,722.15 +44.94 +1.22% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,098.39 +73.79 +0.82% 
Hang Seng 21,167.27 +78.41 +0.37% 
Straits Times 3,022.28 +10.86 +0.36% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks extend gains after drop in jobless claims

Another dose of better news on the labor market sends stocks higher, extending September rally *

Stephen Bernard, AP Business Writer, On Thursday September 9, 2010, 4:40 pm 

NEW YORK (AP) -- Stocks extended their September rally Thursday following more encouraging news on the job market.

The Dow Jones industrial average rose 28 points after the Labor Department said first-time claims for unemployment benefits fell last week to the lowest level in two months. In another hopeful sign on the economy, the trade deficit narrowed in July.

Stocks pared their gains in the afternoon after a report came out saying Deutsche Bank is considering raising new money through a stock sale in what could be another troubling sign for European banks. Trading volume was very light.

The jobs report came in much better than analysts had expected and added to other positive signals on the economy, including a pickup in job creation for August reported last week. Treasury prices and gold fell as investors found themselves with more appetite for risk.

"The employment report is still the king of kings," said Edwin Denson, head of market strategy at Singer Partners LLC. "The labor market is still the indicator, that if it's positive, would give people the most comfort."

Unemployment claims have still not fallen enough to suggest that widespread hiring is around the corner, but investors have taken solace in recent employment news that suggest the economy will continue to grow slowly during the rest of the year. Traders concerned about the potential for the economy to slide back into recession drove stocks lower through most of August.

"All we need is slightly good news ... relative to expectations, and at this point expectations are relatively poor," said Tyler Vernon, principal and portfolio manager at Biltmore Capital Advisors.

Stocks have rallied since the beginning of September on the improving outlook for the economy, and have risen in six out of the past seven days.

The Dow Jones industrial average rose 28.23, or 0.3 percent, to close at 10,415.24. The Dow had risen as much as 90 points earlier.

The Standard & Poor's 500 index rose 5.31, or 0.5 percent, to 1,104.18, while the Nasdaq composite index rose 7.33, or 0.3 percent, to 2,236.20.

Rising stocks outpaced those that fell three to two on the New York Stock Exchange, where volume was extremely low at 840 million shares.

First-time claims for unemployment benefits fell to 451,000 last week, much better than the 470,000 expected by analysts polled by Thomson Reuters. But that's still well above the 400,000 level that economists say is a signal of strong economic growth and job creation.

Bond prices fell, sending the yield on the 10-year Treasury note up to 2.76 percent from 2.66 percent late Wednesday. That yield helps set interest rates on mortgages and other consumer loans.

The Dow had already jumped 3.7 percent in September heading into trading Thursday. Stocks have climbed all but one day so far this month. Major indexes took a pause from the recent rally on Tuesday when worries about European government debt problems flared up early in the week.

There were concerns during the spring that mounting European debt would stunt a global recovery. Stocks fell sharply through much of the spring because of those worries.

Those worries largely dissipated after several European nations successfully auctioned new debt this week. However the Deutsche Bank report, which came out after European markets closed, could again renew questions about whether banks there could handle losses if government's default.

Deutsche Bank shares fell $1.97, or 3.2 percent, to $59.99.

In corporate news, McDonald's Corp. shares dropped as a jump in monthly sales fell short of expectations. The fast-food chain's stock has been climbing steadily throughout the year as sales rose. McDonald's shares fell $1.71, or 2.3 percent, to $74.37.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks extended their September rally Thursday following more encouraging news on the job market.

The Dow Jones industrial average rose 28 points after the Labor Department said first-time claims for unemployment benefits fell last week to the lowest level in two months. In another hopeful sign on the economy, the trade deficit narrowed in July.

Stocks pared their gains in the afternoon after a report came out saying Deutsche Bank is considering raising new money through a stock sale in what could be another troubling sign for European banks. Trading volume was very light.

*The NYSE DOW closed HIGHER +47.53 points +0.46% on Friday September 10*
Sym. Last......... ........Change..........
 Dow 10,462.77 +47.53 +0.46% 
Nasdaq 2,242.48 +6.28 +0.28% 
S&P 500 1,109.55 +5.37 +0.49% 
30-yr Bond 3.8730% +0.2800 

NYSE Volume 3,181,133,750  (prior day 3,545,952,500)
Nasdaq Volume 1,708,366,000  (prior day 1,719,498,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,501.64 +7.48 +0.14% 
DAX 6,214.77 -6.75 -0.11% 
CAC 40 3,725.82 +3.67 +0.10% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,239.17 +140.78 +1.55% 
Hang Seng 21,257.39 +90.12 +0.43% 
Straits Times 3,022.28 +10.86 +0.36% 

http://finance.yahoo.com/news/Stocks-extend-gains-after-apf-2733638228.html?x=0#Scene_1

*Stocks extend gains after drop in jobless claims

Another dose of better news on the labor market sends stocks higher, extending September rally *

Stephen Bernard, AP Business Writer, On Thursday September 9, 2010, 5:59 pm EDT 

NEW YORK (AP) -- Stocks extended their September rally Thursday following more encouraging news on the job market.

The Dow Jones industrial average rose 28 points after the Labor Department said first-time claims for unemployment benefits fell last week to the lowest level in two months. In another hopeful sign on the economy, the trade deficit narrowed in July.

Stocks pared their gains in the afternoon after a report came out saying Deutsche Bank is considering raising new money through a stock sale in what could be another troubling sign for European banks. Trading volume was very light.

The jobs report came in much better than analysts had expected and added to other positive signals on the economy, including a pickup in job creation for August reported last week. Treasury prices and gold fell as investors found themselves with more appetite for risk.

"The employment report is still the king of kings," said Edwin Denson, head of market strategy at Singer Partners LLC. "The labor market is still the indicator, that if it's positive, would give people the most comfort."

Unemployment claims have still not fallen enough to suggest that widespread hiring is around the corner, but investors have taken solace in recent employment news that suggest the economy will continue to grow slowly during the rest of the year. Traders concerned about the potential for the economy to slide back into recession drove stocks lower through most of August.

"All we need is slightly good news ... relative to expectations, and at this point expectations are relatively poor," said Tyler Vernon, principal and portfolio manager at Biltmore Capital Advisors.

Stocks have rallied since the beginning of September on the improving outlook for the economy, and have risen in six out of the past seven days.

The Dow Jones industrial average rose 28.23, or 0.3 percent, to close at 10,415.24. The Dow had risen as much as 90 points earlier.

The Standard & Poor's 500 index rose 5.31, or 0.5 percent, to 1,104.18, while the Nasdaq composite index rose 7.33, or 0.3 percent, to 2,236.20.

Rising stocks outpaced those that fell three to two on the New York Stock Exchange, where consolidated volume was extremely low at 3.5 billion shares.

First-time claims for unemployment benefits fell to 451,000 last week, much better than the 470,000 expected by analysts polled by Thomson Reuters. But that's still well above the 400,000 level that economists say is a signal of strong economic growth and job creation.

Bond prices fell, sending the yield on the 10-year Treasury note up to 2.76 percent from 2.66 percent late Wednesday. That yield helps set interest rates on mortgages and other consumer loans.

The Dow had already jumped 3.7 percent in September heading into trading Thursday. Stocks have climbed all but one day so far this month. Major indexes took a pause from the recent rally on Tuesday when worries about European government debt problems flared up early in the week.

There were concerns during the spring that mounting European debt would stunt a global recovery. Stocks fell sharply through much of the spring because of those worries.

Those worries largely dissipated after several European nations successfully auctioned new debt this week. However the Deutsche Bank report, which came out after European markets closed, could again renew questions about whether banks there could handle losses if government's default.

Deutsche Bank shares fell $1.97, or 3.2 percent, to $59.99.

In corporate news, McDonald's Corp. shares dropped as a jump in monthly sales fell short of expectations. The fast-food chain's stock has been climbing steadily throughout the year as sales rose. McDonald's shares fell $1.71, or 2.3 percent, to $74.37.

0352


----------



## bigdog

Source: http://finance.yahoo.com

 Investors looking for reassurance about the health of the global economy received just that Monday.

Stocks extended their rally into a third week after global regulators agreed to new rules for how much money banks must hold in reserves, China reported its economy remains robust and companies announced a flurry of takeovers.

"The package of catalysts is a perfect backdrop for a market trying to confirm global economic growth," said Quincy Krosby, a market strategist at Prudential Financial. Dealmaking and the expansion in China further reduced worries about the economy falling back into recession, Krosby said.

The Dow Jones industrial average rose 81 points for its eighth gain in the past nine days. The Dow did close off its high after some traders pulled money out of retail stocks ahead of the government's monthly retail sales report due out Tuesday.


*The NYSE DOW closed HIGHER +81.36 points +0.78% on Monday September 13*
Sym. Last......... ........Change..........
Dow 10,544.13 +81.36 +0.78% 
Nasdaq 2,285.71 +43.23 +1.93% 
S&P 500 1,121.90 +12.35 +1.11% 
30-yr Bond 3.8420% -0.3100 

NYSE Volume 3,961,239,250 (prior day  3,181,133,750)
Nasdaq Volume 1,984,896,880  (prior day 1,708,366,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,565.53 +63.89 +1.16% 
DAX 6,261.68 +46.91 +0.75% 
CAC 40 3,767.15 +41.33 +1.11% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,321.82 +82.65 +0.89% 
Hang Seng 21,658.35 +400.96 +1.89% 
Straits Times 3,066.81 +44.53 +1.47% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks climb on bank reform, China growth, deals

Stocks extend rally on banking reform pact, China's growth, corporate deals *

Stephen Bernard, AP Business Writer, On Monday September 13, 2010, 5:59 pm EDT 

NEW YORK (AP) -- Investors looking for reassurance about the health of the global economy received just that Monday.

Stocks extended their rally into a third week after global regulators agreed to new rules for how much money banks must hold in reserves, China reported its economy remains robust and companies announced a flurry of takeovers.

"The package of catalysts is a perfect backdrop for a market trying to confirm global economic growth," said Quincy Krosby, a market strategist at Prudential Financial. Dealmaking and the expansion in China further reduced worries about the economy falling back into recession, Krosby said.

The Dow Jones industrial average rose 81 points for its eighth gain in the past nine days. The Dow did close off its high after some traders pulled money out of retail stocks ahead of the government's monthly retail sales report due out Tuesday.

But overall sentiment remained positive, pushing major indexes to their highest closes in more than a month and the Standard & Poor's 500 and Nasdaq composite indexes back into positive territory for the year.

Hewlett-Packard Co. agreed to purchase security software provider ArcSight Inc. and Dollar Thrifty Automotive Group Inc. said it accepted Hertz Global Holdings Inc.'s acquisition offer. Acquisitions are often a sign that companies are confident the economy is going to expand soon.

Global regulators agreed to reforms that could help avoid another credit crisis like the one that plagued financial markets worldwide in 2008 and early 2009. Banks will gradually have to increase their reserves to protect against potential losses.

"The agreement itself was a little lighter than expected," said Mitch Schlesinger, managing director at FBB Capital. Because reserve requirements will be rolled out slowly and not be quite as strong as expected, it reduces short-term worries that banks would have to further cut back on lending and raise cash quickly to meet new standards, Schlesinger said.

The new regulations have added to confidence in Europe's banks, which have been slower than their U.S. counterparts to bolster reserves. European markets rose sharply Monday.

Investors entered trading in the U.S. Monday already heartened by the latest signs of growth out of China. The country reported industrial production accelerated again in August when many had predicted slower growth. Strong expansion in China is considered vital to a global recovery because if demand remains high there, it will offset sluggish growth in the U.S. where economic expansion is not as strong.

The Dow rose 81.36, or 0.8 percent, to 10,544.13. The S&P 500 index rose 12.35, or 1.1 percent, to 1,121.90, while the Nasdaq composite rose 43.23, or 1.9 percent, to 2,285.71.

More than three stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 3.8 billion shares.

Britain's FTSE 100 rose 1.2 percent, Germany's DAX index gained 0.8 percent, and France's CAC-40 rose 1.1 percent. Japan's Nikkei stock average climbed 0.9 percent.

JPMorgan Chase & Co. and Bank of America Corp. were among the biggest gainers in the financial sector. JPMorgan Chase rose $1.36, or 3.4 percent, to $41.12, while Bank of America rose 40 cents, or 3 percent, to $13.95.

Hewlett-Packard, which has been buying up smaller companies in recent months, will pay $1.5 billion, or $43.50 per share, in cash for ArcSight. ArcSight jumped $8.81, or 25 percent, to $43.91, while Hewlett-Packard rose 8 cents to $38.28.

Hertz agreed to pay $1.43 billion, or $50 per share, for Dollar Thrifty, beating out competitor Avis Budget Group Inc. in a bidding war to acquire the rival rental car company. Dollar Thrifty rose $2.57, or 5.4 percent, to $50.58, while Hertz rose 79 cents, or 7.9 percent, to $10.84.

Andrew Neale, a portfolio manager at Fogel Neale Partners said the acquisition activity is "crucial for investors" because when companies are confident and investing money, it adds to investor confidence.

Oil prices continued to rise as a leak in a pipeline that supplies oil to refineries in the Midwest remains closed. Benchmark crude rose 74 cents to settle at $77.19 a barrel on the New York Mercantile Exchange.

Treasury prices rose modestly, indicating not all investors were confident in the latest signs of growth. The yield on the 10-year Treasury note, which moves opposite its price, dipped to 2.75 percent from 2.79 late Friday. Its yield is often used to help set interest rates on mortgages and other consumer loans.


----------



## bigdog

Source: http://finance.yahoo.com

A September rally faltered on the stock market Tuesday as worries returned about Europe's economy.

The Dow Jones industrial average and the Standard & Poor's 500 index both closed with slight losses, breaking a four-day winning streak. Stocks are still up strongly this September, a historically weak month for the market.

Stocks had edged higher for much of the day following positive reports on U.S. retail sales and business inventories, but retreated in the final 10 minutes of trading as investors' enthusiasm waned.

Disappointing news from overseas hung over the market all day. European markets struggled to end barely higher after reports that German investor confidence fell sharply in September and industrial production unexpectedly stagnated during July in the countries that use the euro. Stocks in Tokyo also fell after the yen touched another 15-year high against the dollar, which is bad news for Japanese exporters.

*The NYSE DOW closed LOWER -17.64  points -0.17% on Tuesday September 14*
Sym. Last......... ........Change..........
Dow 10,526.49 -17.64 -0.17% 
Nasdaq 2,289.77 +4.06 +0.18% 
S&P 500 1,121.10 -0.80 -0.07% 
30-yr Bond 3.7860% -0.5600 

NYSE Volume 3,953,875,250 (prior day  3,961,239,250)
Nasdaq Volume 2,106,687,000  (prior day 1,984,896,880)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,567.41 +1.88 +0.03% 
DAX 6,275.41 +13.73 +0.22% 
CAC 40 3,774.40 +7.25 +0.19% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,299.31 -22.51 -0.24% 
Hang Seng 21,696.04 +37.69 +0.17% 
Straits Times 3,048.65 -18.16 -0.59% 

http://finance.yahoo.com/news/Stocks-edge-lower-breaking-apf-55679208.html?x=0

*Stocks edge lower, breaking 4-day winning streak

September rally falters on the stock market; Dow and S&P 500 break 4-day winning streak *

Stephen Bernard, AP Business Writer, On Tuesday September 14, 2010, 6:01 pm 

NEW YORK (AP) -- A September rally faltered on the stock market Tuesday as worries returned about Europe's economy.

The Dow Jones industrial average and the Standard & Poor's 500 index both closed with slight losses, breaking a four-day winning streak. Stocks are still up strongly this September, a historically weak month for the market.

Stocks had edged higher for much of the day following positive reports on U.S. retail sales and business inventories, but retreated in the final 10 minutes of trading as investors' enthusiasm waned.

Disappointing news from overseas hung over the market all day. European markets struggled to end barely higher after reports that German investor confidence fell sharply in September and industrial production unexpectedly stagnated during July in the countries that use the euro. Stocks in Tokyo also fell after the yen touched another 15-year high against the dollar, which is bad news for Japanese exporters.

In other signs that investors remain cautious, gold climbed to another record and Treasury prices rose, sending interest rates lower.

The Dow fell 17.64, or 0.2 percent, to close at 10,526.49 and the S&P 500 lost 0.8 point, or 0.1 percent, to end at 1,121.10.

The Nasdaq edged up 4.06, or 0.2 percent, at 2,289.77.

Signs of modest growth have been enough to get traders to put more money into stocks in September and shake off malaise about the economy that dogged the market for most of August.

However analysts caution that the gains have come amid very light volume, a sign that many investors aren't participating in the market and may still be skeptical about how well the economy is doing.

The losses Tuesday for the Dow and S&P 500 were only the second so far this month. The earlier loss on Sept. 7 was also triggered about renewed worries over Europe after news reports questioned the health of European banks.

September is usually a weak month for stocks but this year has been an exception. Even after Tuesday's losses the Dow is still up 5.1 percent in September, but 6.1 percent below its 2010 high reached on April 26. For the year to date it's up 0.9 percent.

The Commerce Department said Tuesday that retail sales rose in August at their fastest pace in five months and slightly beat forecasts. The modestly higher growth is in line with economic reports over the past two weeks indicating that the economy continues to expand, though at a sluggish pace.

Retailers including Macy's Inc. and J.C. Penney Co. rose after the retail sales report. Electronics retailer Best Buy Co. also jumped after the company reported income that easily topped forecasts and raised its full-year outlook.

The primary question investors are still struggling with is, "does the economy just muddle along?" asked Michael Sheldon, chief market strategist at RDM Financial Group. He predicted the economy is more likely to continue to grow slowly than to fall back into recession.

In another encouraging sign on the economy, business inventories jumped in July by their largest amount in two years and business sales rebounded after two months of declines. The upturn followed months of weak sales as people remain worried about keeping their jobs.

Falling stocks slightly outpaced gaining ones on the New York Stock Exchange, where consolidated volume was relatively low at 3.8 billion shares.

Bond prices rose, driving down interest rates. The yield on the 10-year Treasury note, which moves in the opposite direction as its price, fell to 2.67 percent from 2.75 percent late Monday. Its yield is used as a gauge to set interest rates on mortgages and other consumer loans.

Gold hit a record earlier in the day, climbing as high as $1,276.50 an ounce, before settling at $1,271.70 an ounce.

European stock indexes rebounded after initially falling on the German and European economic reports. Britain's FTSE 100 rose less than 0.1 percent, while Germany's DAX index gained 0.2 percent. France's CAC-40 rose 0.2 percent.

The Japanese yen hit another 15-year high against the dollar, which is bad for Japanese exporters. Japan's Nikkei stock average fell 0.2 percent, getting the global trading day off to a sluggish start.

Macy's rose 60 cents, or 2.9 percent, to $21.65, while J.C. Penney climbed $1.66, or 7.4 percent, to $23.99. Best Buy jumped $2.08, or 6 percent, to $36.73.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks overcame an early slide Wednesday and closed higher as investors tried to keep a September rally alive.

Major indexes had opened lower after a poor reading on factory activity in New York, but turned higher around midday after getting better news on U.S. industrial production. That report showed that the national industrial sector grew for the 12th time 14 months.

Better news on manufacturing was the main trigger behind the rally that began in early September and has now propelled stocks higher on nine out of the past 11 days. The Dow Jones industrial average, which gained 46 points Wednesday, is up 5.6 percent over that time.

*The NYSE DOW closed HIGHER +46.24 points +0.44% on Wednesday September 15*
Sym. Last......... .......Change..........
Dow 10,572.73 +46.24 +0.44% 
Nasdaq 2,301.32 +11.55 +0.50% 
S&P 500 1,125.07 +3.97 +0.35% 
30-yr Bond 3.8740% +0.8800 

NYSE Volume 3,617,492,750  (prior day 3,953,875,250)
Nasdaq Volume 2,085,158,125   (prior day 2,106,687,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,557.07 -10.34 -0.19% 
DAX 6,261.87 -13.54 -0.22% 
CAC 40 3,755.64 -18.76 -0.50% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,516.56 +217.25 +2.34% 
Hang Seng 21,725.64 +29.60 +0.14% 
Straits Times 3,071.03 +22.38 +0.73% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks edge higher, keeping September rally alive

Stocks overcome an early slide and end higher, continuing a September rally* 

Stephen Bernard, AP Business Writer, On Wednesday September 15, 2010, 5:50 pm EDT 

NEW YORK (AP) -- Stocks overcame an early slide Wednesday and closed higher as investors tried to keep a September rally alive.

Major indexes had opened lower after a poor reading on factory activity in New York, but turned higher around midday after getting better news on U.S. industrial production. That report showed that the national industrial sector grew for the 12th time 14 months.

Better news on manufacturing was the main trigger behind the rally that began in early September and has now propelled stocks higher on nine out of the past 11 days. The Dow Jones industrial average, which gained 46 points Wednesday, is up 5.6 percent over that time.

In corporate news, MasterCard Inc. rose sharply after saying it expects its income to rise at least 20 percent this year. Shares rose $10.43, or 5.2 percent, to $210.18.

Kraft Foods Inc., known for brands like Nabisco and Maxwell House, rose after saying its earnings would jump between 9 percent and 11 percent over the next three years thanks to growth in developing markets. Shares rose 53 cents to $31.58 and earlier hit a new high for the year.

Stocks rose sharply during the first half of the month, even though September is historically a weak period for the market. A strong manufacturing report from the Institute for Supply Management set off the rally two weeks ago.

The Dow Jones industrial average rose 46.24, or 0.4 percent, to close at 10,572.73. It was the index's highest close since Aug. 10. The Dow still 5.6 percent below its 2010 high reached on April 26, and up only 1.4 percent for the year to date following steep declines in May and June.

Broader indexes also rose. The Standard & Poor's 500 index gained 3.97, or 0.4 percent, to 1,125.07 and the Nasdaq composite rose 11.55, or 0.5 percent, to 2,301.32.

Traders Wednesday focused more on the industrial production report, setting aside a disappointing reading on manufacturing activity in New York. The Empire State Manufacturing Survey Index, which measured activity in the state in September, came in well below forecasts.

European markets were mainly lower, but stocks in Japan surged 2.3 percent after the country's government stepped in to weaken the yen. The yen had been hitting 15-year highs against the dollar, which makes it harder for Japanese exporters to compete on global markets.

Japan sold an undisclosed amount of yen in foreign exchange markets to weaken its currency, which was threatening to endanger manufacturers like Toyota Motor Corp. and Sony Corp. that export goods around the world. The dollar rose 3 percent against the yen.

Treasury prices edged lower. The yield on the 10-year Treasury note, which moves opposite its price, rose to 2.72 percent from 2.67 percent late Tuesday. Its yield is often used to help set interest rates on mortgages and other consumer loans.

Rising stocks slightly outpaced falling ones on the New York Stock Exchange, where consolidated volume came to 3.5 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks struggled to a mixed finish Thursday as a two-week rally lost momentum. News of a retrenchment by FedEx Corp. also discouraged buyers.

Stocks have been rising for most of September, but on unusually weak volume as skepticism lingers about the economy. FedEx, an economic bellwether, darkened the mood with an announcement that it would eliminate 1,700 jobs in an effort to save its money-losing U.S. trucking business.

Traders were becoming wary as the Standard & Poor's S&P 500 index, the benchmark most used by professional investors, approached the high end of its recent trading range. Investors are often hesitant to push a major index outside of recently tested limits for fear that automated selling programs could kick in and send prices lower.

*The NYSE DOW closed HIGHER +22.10  points +0.21% on Thursday September 16*
Sym. Last......... .......Change..........
Dow 10,594.83 +22.10 +0.21% 
Nasdaq 2,303.25 +1.93 +0.08% 
S&P 500 1,124.66 -0.41 -0.04% 
30-yr Bond 3.9230% +0.4900 

NYSE Volume 3,582,255,250 (prior day  3,617,492,750)
Nasdaq Volume 1,825,339,380  (prior day 2,085,158,125)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,540.14 -15.42 -0.28% 
DAX 6,249.65 -12.22 -0.20% 
CAC 40 3,736.30 -19.34 -0.51% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,509.50 -7.06 -0.07% 
Hang Seng 21,691.45 -34.19 -0.16% 
Straits Times 3,067.11 -3.92 -0.13% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Stocks end mixed as September rally loses steam

Stocks struggle to a mixed finish as a September rally weakens; FedEx disappoints *

Stephen Bernard, AP Business Writer, On Thursday September 16, 2010, 4:51 pm 

NEW YORK (AP) -- Stocks struggled to a mixed finish Thursday as a two-week rally lost momentum. News of a retrenchment by FedEx Corp. also discouraged buyers.

Stocks have been rising for most of September, but on unusually weak volume as skepticism lingers about the economy. FedEx, an economic bellwether, darkened the mood with an announcement that it would eliminate 1,700 jobs in an effort to save its money-losing U.S. trucking business.

Traders were becoming wary as the Standard & Poor's S&P 500 index, the benchmark most used by professional investors, approached the high end of its recent trading range. Investors are often hesitant to push a major index outside of recently tested limits for fear that automated selling programs could kick in and send prices lower.

Over the past few days the S&P has approached 1,131, a level it has not touched since June. Market analysts have long paid attention to technical trading levels such as these, but they are especially important now since electronic trading is so prevalent.

According to preliminary calculations, the Dow Jones industrial average rose 22.10, or 0.2 percent, to close at 10,594.83. The Dow has now risen in 10 of the last 12 days.

Broader indexes were mixed. The Standard & Poor's 500 index fell 0.4, or 0.04 percent, to 1,124.66. The index is still up 7.2 percent for September, which is usually a weak month for stocks.

The Nasdaq composite edged up 1.93, or 0.08 percent, to 2,303.25.

About three stocks fell for every two that rose on the New York Stock Exchange, where volume was low at 900 million shares. Trading volume has been very low in recent weeks as many investors sit on the sidelines. That could leave the market vulnerable if sentiment suddenly worsens.

The mixed day on Wall Street came despite some encouraging news on the economy. The Labor Department said first-time claims for unemployment benefits fell to a two-month low last week to 450,000. They're still well below levels that suggest economic growth.

"Bottom line, everybody is worried the economy is in terrible shape," said Dennis Paul, a senior portfolio manager at the Rosenau/Paul Group at Hightower Advisors. "But it's not getting any worse."

A separate report Thursday indicated prices at the wholesale level rose more than expected last month, easing concerns about deflation, an economic malaise defined by falling prices. Relief over the reading in the Producer Price Index sent Treasury prices slightly lower and their yields higher.

The yield on the 10-year Treasury note, which moves opposite its price, rose to 2.76 percent from 2.72 percent late Wednesday. Its yield is used to help set interest rates on mortgages and other consumer loans.

"I'm not sure the deflation theory is completely debunked, but it's pretty close," said Jamie Cox, a managing director at Harris Financial Group.

FedEx shares dropped $3.22, or 3.8 percent, to $82.72. Competitor UPS Inc.'s shares also fell following the report from Fed. UPS dropped 94 cents to $66.72.


----------



## bigdog

Source: http://finance.yahoo.com

*For the week, the Dow and S&P are both up 1.4 percent, and the Nasdaq is up 3.3 percent*

Stocks gave up most of their gains to end slightly higher Friday, extending a September rally that has slowed as the month wore on.

The Dow Jones industrial tacked on 13 points, while the Standard & Poor's 500 Index edged up less than a point. Both traded close to the breakeven level all day. The Dow and other major indexes logged their third-straight weekly advance.

The market started out on an up note following surprisingly strong profit news late Thursday from technology leaders Oracle Corp. and Research in Motion Ltd., which makes BlackBerrys.

*The NYSE DOW closed HIGHER +13.02 points +0.12% on Friday September 17*
Sym. Last......... .......Change..........
Dow 10,607.85 +13.02 +0.12% 
Nasdaq 2,315.61 +12.36 +0.54% 
S&P 500 1,125.59 +0.93 +0.08% 
30-yr Bond 3.9110% -0.1200 

NYSE Volume 4,820,005,500  (prior day 3,582,255,250)
Nasdaq Volume 2,598,681,500  (prior day 1,825,339,380)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,508.45 -31.69 -0.57% 
DAX 6,209.76 -39.89 -0.64% 
CAC 40 3,722.02 -14.28 -0.38% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,626.09 +116.59 +1.23% 
Hang Seng 21,970.86 +279.41 +1.29% 
Straits Times 3,076.37 +9.26 +0.30% 

http://finance.yahoo.com/news/Stocks-edge-higher-on-apf-275613298.html?x=0

*Stocks edge higher on positive tech earnings news

Stocks inch higher following good earnings news from Oracle and Research in Motion *

Stephen Bernard, AP Business Writer, On Friday September 17, 2010, 5:17 pm

NEW YORK (AP) -- Stocks gave up most of their gains to end slightly higher Friday, extending a September rally that has slowed as the month wore on.

The Dow Jones industrial tacked on 13 points, while the Standard & Poor's 500 Index edged up less than a point. Both traded close to the breakeven level all day. The Dow and other major indexes logged their third-straight weekly advance.

The market started out on an up note following surprisingly strong profit news late Thursday from technology leaders Oracle Corp. and Research in Motion Ltd., which makes BlackBerrys.

Technology and industrial shares were broadly higher, though energy companies were weak following a drop in crude oil. A decline in a measure of consumer confidence from the University of Michigan/Reuters also kept a lid on buying. Gold set another record and Treasury prices edged higher in a sign that investors remain cautious.

The Standard & Poor's 500 Index, the measure used most widely by professional investors, briefly edged above a technical trading threshold, but not enough to convince analysts that the market is ready to move sharply higher. Stocks have been on a nearly unbroken upward march in September, driving the S&P up 7.3 percent.

Traders watch such technical barriers closely for clues about where the market might go next. Right now the key level for the S&P 500 is 1,131, its intraday high for June 21 and the top end of its recent trading range. It barely peeked over that level Friday but failed to stay above it, a sign that the market needs more fuel, in the form of good news on the economy or corporate profits, before moving higher again.

Uri Landesman, president of Platinum Partners, said if the S&P can rally past 1,131, it could surge even further in the next couple of weeks. But if it cannot significantly eclipse that level and falls back below 1,115, roughly its low for the week, "we could go to 1,000 pretty fast," Landesman said.

The Dow Jones industrial average rose 13.02, or 0.1 percent, to close at 10,607.85. The Dow is up 5.9 percent in the month to date, defying skeptics who predicted a decline in September, which is historically a weak one for stocks. It has risen in seven of the past eight days.

The Standard & Poor's 500 index inched up 0.93, or 0.08 percent, to 1,125.59, and the Nasdaq composite rose 12.36, or 0.5 percent, to 2,315.61.

For the week, the Dow and S&P are both up 1.4 percent, and the Nasdaq is up 3.3 percent.

The Dow also had three straight weeks of gains in mid- to late July as many big companies delivered positive earnings surprises. However stocks spent most of August in a funk before turning higher again in September as news on the economy started to improve.

In corporate news, Oracle reported fiscal first-quarter earnings that easily topped forecasts after the market closed Thursday. Shares jumped $2.12, or 8.4 percent, to $27.48

Research in Motion also reported a big jump in earnings as it added new subscribers. Investors have been worried about competition to the BlackBerry from Apple Inc.'s iPhone and mobile phones run on Google Inc.'s Android technology. Shares closed up 23 cents at $46.72 but traded as high as $48.74 earlier

Money flowed into Treasurys again after the weak consumer sentiment reading and a report from the Labor Department showed consumer prices rose slightly in August.

Tim Rood, a managing director at The Collingwood Group, said the report on consumer prices might not have been enough to quell concerns about potential deflation. That could force the Federal Reserve to re-enter the bond market and buy more Treasurys and mortgages bonds in an effort to stimulate the economy.

"Just when you think they're all in ... they essentially have to double down," Rood said of the Fed. The central bank ended similar policies, known as quantitative easing, earlier this year only to have growth stagnate.

The yield on the 10-year note, which moves opposite to its price, fell to 2.74 percent from 2.76 percent late Thursday. Its yield is often used to set interest rates on mortgages and other consumer loans.

Gold touched a new record high again Friday of $1,284.40 an ounce before pulling back to $1,277.50 an ounce.

Benchmark oil for October delivery fell 91 cents to settle at $73.66 a barrel on the New York Mercantile Exchange, helping to send energy shares lower. Chevron fell 59 cents to $78.46.

About four stocks rose for every three that fell on the New York Stock Exchange, where volume was heavy at 1.9 billion shares.

Volume was exceptionally high because of the simultaneous expiration of a series of futures and options contracts on stocks and stock indexes.

0811


----------



## bigdog

Source: http://finance.yahoo.com

Stocks rose to their highest level in four months Monday as hopes grew for more action by the Federal Reserve to prop up the economy. The gains extended the market's rally into a fourth consecutive week.

Buying accelerated after the Standard & Poor's 500 index, the market measure most often used by professional traders, broke through the high end of its recent range. Technical analysts see that as a bullish sign.

The Dow Jones industrial average jumped 146 points to its highest close since May 13. An announcement from a group of economists declaring that the recession ended in June 2009 was a mild positive, but that assessment was in line with what many analysts already believed.

*The NYSE DOW closed HIGHER +145.77 points +1.37% on Monday September 20*
Sym. Last......... .......Change..........
Dow 10,753.62 +145.77 +1.37% 
Nasdaq 2,355.83 +40.22 +1.74% 
S&P 500 1,142.71 +17.12 +1.52% 
30-yr Bond 3.8660% -0.4500 

NYSE Volume 4,016,912,500  (prior day 4,820,005,500)
Nasdaq Volume 2,020,510,380  (prior day 2,598,681,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,602.54 +94.09 +1.71% 
DAX 6,294.58 +84.82 +1.37% 
CAC 40 3,788.01 +65.99 +1.77% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,626.09 +116.59 +1.23% 
Hang Seng 21,977.34 +6.48 +0.03% 
Straits Times 3,080.98 +4.61 +0.15% 

http://finance.yahoo.com/news/Stocks-extend-Sept-rally-SP-apf-1733156566.html?x=0

*Stocks extend Sept. rally; S&P breaks out of range

Stocks push September rally into fourth week; drive S&P 500 to highest level in 4 months *

Stephen Bernard, AP Business Writer, On Monday September 20, 2010, 5:46 pm 

NEW YORK (AP) -- Stocks rose to their highest level in four months Monday as hopes grew for more action by the Federal Reserve to prop up the economy. The gains extended the market's rally into a fourth consecutive week.

Buying accelerated after the Standard & Poor's 500 index, the market measure most often used by professional traders, broke through the high end of its recent range. Technical analysts see that as a bullish sign.

The Dow Jones industrial average jumped 146 points to its highest close since May 13. An announcement from a group of economists declaring that the recession ended in June 2009 was a mild positive, but that assessment was in line with what many analysts already believed.

Deal news also helped lift shares. IBM Corp. said it would buy data storage provider Netezza Corp. for about $1.7 billion in cash. Investors see acquisitions as a sign companies are more comfortable spending cash to expand, and suggests that other stocks may also become targets for buyers.

The Fed meets Tuesday to discuss interest rates, and investors are hoping for a sign that the central bank might make more moves to keep rates low. There is a growing expectation that the Fed's rate-setting committee could relaunch programs to buy Treasurys and mortgage bonds in an effort to stimulate the economy. At the very least, it might hint at future plans.

"The Fed will hint at it, put it on the table, but not do anything," predicted Brian Gendreau, a market strategist at Financial Network Investment Corp.

A number of economic indicators have topped forecasts in recent weeks, propelling stocks higher, but the economy is far from strong. If the Fed starts buying bonds again it could drive interest rates lower, enabling companies and consumers to get cheaper loans. The Fed had a similar bond-buying program in place earlier this year.

The Dow Jones industrial average rose 145.77 points, or 1.4 percent, to close at 10,753.62. The Dow has now risen in 12 of the last 14 days.

The Standard & Poor's 500 index rose 17.12, or 1.5 percent, to 1,142.71. The Nasdaq composite rose 40.22, or 1.7 percent, to 2,355.83.

The S&P 500 climbed solidly above the key technical level of 1,131, the high end of its recent trading range. The S&P briefly crossed that barrier on Friday for the first time since June 21, but not for long enough to convince analysts that the market had enough momentum to surge higher.

Many automatic buy and sell orders are set around market milestones such as these, and investors watch those levels closely for clues about which way the market may go next.

Five stocks rose for every one that fell on the New York Stock Exchange, where volume came to 955 million shares.

Investors have been encouraged by better economic reports this month, especially on jobs and manufacturing, to send stocks steadily higher in September. The Dow is up 7.4 percent in the month to date, the S&P 8.9 percent. The gains have defied predictions that September would follow a historical pattern of being dismal for stocks.

Investors also see hope in a softer stance in recent weeks by President Barack Obama's administration about tax and business-related programs. Keith Goddard, co-manager of the Capital Advisors Growth Fund, said a shift in policy could mean the Bush-era tax cuts will be extended. That would help dividend-paying stocks, which have been in "no man's land" recently because investors are uncertain the tax rate they'll have to pay on the dividends, Goddard said.

Extending the tax cuts and announcing other policies like a payroll tax holiday could be "worth a 10 percent move in the stock market," Goddard said.

Deal news sent IBM shares up $1.60, or 1.2 percent, to $131.79. Its acquisition target, Netezza, rose $3.67, or 14.9 percent, to $28.27.

Bond prices barely budged as investors await word Tuesday from the Fed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.71 percent from 2.74 percent late Friday.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks got a brief bump following word that the Federal Reserve is ready to do more to help the economy, but ended mostly lower Tuesday after the central bank disappointed some investors by not taking any bold new actions.

Treasury prices rallied as investors saw the Fed's announcement as a signal that more bond purchases were on the way.

The Fed said it is concerned that inflation is below levels consistent with a healthy economy and indicated that it is ready to provide "additional accommodation" to support the recovery. That would mean more purchases of Treasurys or other kinds of debt, which would keep interest rates low and hopefully encourage borrowing.

"They left themselves as much room as they possibly could," said Bill Stone, chief investment strategist at PNC Wealth Management. "In the bond world, the coast is clear for buyers."

*The NYSE DOW closed HIGHER +7.41  points +0.07% on Monday September 21*
Sym. Last......... .......Change..........
Dow 10,761.03 +7.41 +0.07% 
Nasdaq 2,349.35 -6.48 -0.28% 
S&P 500 1,139.78 -2.93 -0.26% 
30-yr Bond 3.7850% -0.8100 

NYSE Volume 4,403,560,000  (prior day 4,016,912,500)
Nasdaq Volume 1,936,348,875  (prior day 2,020,510,380)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,576.19 -26.35 -0.47% 
DAX 6,275.98 -18.60 -0.30% 
CAC 40 3,784.40 -3.61 -0.10% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,602.11 -23.98 -0.25% 
Hang Seng 22,002.59 +25.25 +0.11% 
Straits Times 3,095.39 +14.41 +0.47% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks mixed as Fed leaves door open for stimulus

Stocks give up gains as Fed hints at, but doesn't immediately take, action on economy *

Stephen Bernard, AP Business Writer, On Tuesday September 21, 2010, 5:42 pm 

NEW YORK (AP) -- Stocks got a brief bump following word that the Federal Reserve is ready to do more to help the economy, but ended mostly lower Tuesday after the central bank disappointed some investors by not taking any bold new actions.

Treasury prices rallied as investors saw the Fed's announcement as a signal that more bond purchases were on the way.

The Fed said it is concerned that inflation is below levels consistent with a healthy economy and indicated that it is ready to provide "additional accommodation" to support the recovery. That would mean more purchases of Treasurys or other kinds of debt, which would keep interest rates low and hopefully encourage borrowing.

"They left themselves as much room as they possibly could," said Bill Stone, chief investment strategist at PNC Wealth Management. "In the bond world, the coast is clear for buyers."

Treasurys rose sharply after the Fed's announcement, sending interest rates lower. The yield on the 10-year Treasury note fell sharply to 2.58 percent from 2.70 percent the day before, while its price jumped $1.03 to $100.34. The yield is a common benchmark for setting interest rates on corporate debt and mortgages.

The Fed's statement, which came after a one-day meeting of its interest rate committee, had only a temporary effect on stocks. Hopes had been building that Tuesday would bring news of a specific new bond-purchasing program, and disappointment ensued when one didn't materialize.

Stocks had been trading lower ahead of the Fed's announcement and rallied briefly after the news came out. A late slump erased most of the day's advance from broad market indicators, while the Dow Jones industrial average, which tracks 30 large companies, ended with a meager gain.

The Dow rose 7.41, or 0.1 percent, to close at 10,761.03. It's still up 7.5 percent for September, an unsually large gain for a month that is historically weak for stocks.

The Standard & Poor's 500 index slipped 2.93, or 0.3 percent, to 1,139.78, while the Nasdaq composite fell 6.48, also 0.3 percent, to 2,349.35.

The weakness in broader indexes suggested that a three-week rally on the stock market may be losing steam as stocks start to look expensive to some investors. The S&P 500 is still up 8.6 percent for the month, while the Nasdaq is up even more, at 11.1 percent.

Tom Porcelli, head of U.S. market economics at the Royal Bank of Canada, said there's now a good chance the Fed will decide to add more debt to its books at the next meeting of its rate-setting committee on Nov. 2. But another round of bond buying by the Fed may offer the economy little help, he argued. The last round of Fed purchases had the effect of lowering lending rates by a half a percentage point.

Now, a move by the Fed would have probably less of an impact. Borrowing rates are cheap but borrowing is still weak. "The fact remains that the economic backdrop is the driver of lending not low rates," Porcelli said in a note to clients after the announcement.

In corporate news, steep discounts and higher costs drove ConAgra Foods Inc.'s fiscal first-quarter profit lower. Shares of the company, which owns the Chef Boyardee and Peter Pan foods brands, fell 80 cents, or 3.6 percent, to $21.57.

Cruise line operator Carnival Corp. reported a 22 percent jump in quarterly profits as demand was strong during the summer. It also raised its full-year earnings outlook well above analysts' forecasts. Shares rose 51 cents to $37.57.

The dollar fell against other major currencies, while gold prices continued to hover near record highs.

Falling stocks outnumbered rising ones two to one on the New York Stock Exchange, where consolidated volume came to 4.2 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Traders put their September stock rally on hold and moved into Treasurys and gold Wednesday, a day after the Federal Reserve said it was ready to take more action to boost the economy.

The Dow Jones industrial average fell 21 points.

With no new economic data out Wednesday and the Fed's announcement late Tuesday having a bigger impact on the bond and currency markets, Bob Auer, portfolio manager of the Auer Growth Fund, said it was natural for stocks to pause.

Major indexes have soared this month as economic reports have consistently indicated the economy continues to grow, albeit slowly.

"People are saying, 'I've got some profits, let's book 'em,'" Auer said. Entering Wednesday, the Dow had risen 13 of the past 15 days and climbed 7.5 percent so far in September

*The NYSE DOW closed LOWER  -21.72 points -0.20% on Tuesday September 22*
Sym. Last......... .......Change..........
Dow 10,739.31 -21.72 -0.20% 
Nasdaq 2,334.55 -14.80 -0.63% 
S&P 500 1,134.28 -5.50 -0.48% 
30-yr Bond 3.7420% -0.4300 

NYSE Volume 4,157,783,000  (prior day 4,403,560,000)
Nasdaq Volume 2,211,429,750  (prior day 1,936,348,875)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,551.91 -24.28 -0.44% 
DAX 6,208.33 -67.65 -1.08% 
CAC 40 3,735.05 -49.35 -1.30% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,566.32 -35.79 -0.37% 
Hang Seng 22,047.71 +45.12 +0.21% 
Straits Times 3,096.10 +0.71 +0.02% 

http://finance.yahoo.com/news/Stock-futures-edge-lower-apf-2787395926.html?x=0

*Stocks waver as traders move into Treasurys, gold

Stock rally put on hold as traders opt for Treasurys, gold after Fed's latest statement *

Stephen Bernard, AP Business Writer, On Wednesday September 22, 2010, 5:44 pm 

NEW YORK (AP) -- Traders put their September stock rally on hold and moved into Treasurys and gold Wednesday, a day after the Federal Reserve said it was ready to take more action to boost the economy.

The Dow Jones industrial average fell 21 points.

With no new economic data out Wednesday and the Fed's announcement late Tuesday having a bigger impact on the bond and currency markets, Bob Auer, portfolio manager of the Auer Growth Fund, said it was natural for stocks to pause.

Major indexes have soared this month as economic reports have consistently indicated the economy continues to grow, albeit slowly.

"People are saying, 'I've got some profits, let's book 'em,'" Auer said. Entering Wednesday, the Dow had risen 13 of the past 15 days and climbed 7.5 percent so far in September.

The Fed didn't announce specific actions to strengthen the economy, but investors interpreted its statement as a signal that the central bank could step up its bond-purchasing program down the line.

Investors had little incentive to move more money into stocks, so they turned their focus to bonds and gold. Treasurys rose again, pushing their yields lower, and gold climbed to another record.

If the Fed starts purchasing bonds, it would have the dual effect of raising demand for Treasurys and hurting the value of the dollar. That's why bond prices rallied Wednesday and traders swapped out dollars for gold and other currencies.

The Dow fell 21.72, or 0.2 percent, to 10,739.31. The Standard & Poor's 500 index fell 5.50, or 0.5 percent, to 1,134.28, while the Nasdaq composite index fell 14.80, or 0.6 percent, to 2,334.55.

The yield on the 10-year Treasury note, which moves opposite to its price, fell to 2.56 percent from 2.58 percent late Tuesday. Its yield is often used to set interest rates on mortgages and other loans.

Gold climbed to a record $1,298.00 an ounce before falling back to $1,292.10 an ounce.

The euro hit a five-month high against the dollar.

In corporate news, Microsoft Corp. shares dipped 54 cents, or 2.2 percent, to $24.61 after the company said it was raising its dividend for the first time in two years.

Adobe Systems Inc. shares plummeted after the computer software maker said its fiscal third-quarter profit surged, but it said revenue during the current quarter will likely fall short of expectations. Adobe shares fell $6.27, or 19 percent, to $26.67.

About three stocks fell for every two that rose on the New York Stock Exchange where consolidated volume came to a light 4 billion shares, down from Tuesday's 4.2 billion.

Overseas, Britain's FTSE 100 fell 0.4 percent, Germany's DAX index fell 1.1 percent, and France's CAC-40 dropped 1.3 percent. Japan's Nikkei stock average fell 0.4 percent.


----------



## bigdog

Source: http://finance.yahoo.com

A September stock rally weakened on Thursday as investors were disappointed by a jump in unemployment claims and more signs of trouble for Europe's economy.

The market got off to a bad start after applications for unemployment benefits rose unexpectedly last week. European stocks also sank after following a lower reading on business activity in the 16 countries that use the euro and news that Ireland's economy shrank 1.2 percent in the second quarter.

The Dow Jones industrial average closed down 77 points, its second day of losses. The Standard & Poor's 500 index, the benchmark most often used by professional investors, fell below a key threshold watched by technical analysts. Gold hit another record as traders sought safe havens.

The slide raised doubts about whether a three-week rally that vaulted stocks higher in September would continue. The Dow is still up 6.5 percent for the month, but is 4.8 percent below its 2010 high reached on April 26. For the year, it's up 2.2 percent.

*The NYSE DOW closed LOWER -76.89 points -0.72% on Thursday September 23*
Sym. Last......... .......Change..........
Dow 10,662.42 -76.89 -0.72% 
Nasdaq 2,327.08 -7.47 -0.32% 
S&P 500 1,124.83 -9.45 -0.83% 
30-yr Bond 3.7330% -0.0090 

NYSE Volume 4,079,335,750 (prior day 4,157,783,000)
Nasdaq Volume 1,958,905,000 (prior day 2,211,429,750)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,547.08 -4.83 -0.09% 
DAX 6,184.71 -23.62 -0.38% 
CAC 40 3,710.61 -24.44 -0.65% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,566.32 closed for holiday  
Hang Seng 22,047.71 closed for holiday    
Straits Times 3,083.13 -12.97 -0.42% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks weaken on Europe worries and job numbers

Unemployment claims, Europe worries send stocks lower; September rally in doubt *

Stephen Bernard, AP Business Writer, On Thursday September 23, 2010, 5:21 pm 

NEW YORK (AP) -- A September stock rally weakened on Thursday as investors were disappointed by a jump in unemployment claims and more signs of trouble for Europe's economy.

The market got off to a bad start after applications for unemployment benefits rose unexpectedly last week. European stocks also sank after following a lower reading on business activity in the 16 countries that use the euro and news that Ireland's economy shrank 1.2 percent in the second quarter.

The Dow Jones industrial average closed down 77 points, its second day of losses. The Standard & Poor's 500 index, the benchmark most often used by professional investors, fell below a key threshold watched by technical analysts. Gold hit another record as traders sought safe havens.

The slide raised doubts about whether a three-week rally that vaulted stocks higher in September would continue. The Dow is still up 6.5 percent for the month, but is 4.8 percent below its 2010 high reached on April 26. For the year, it's up 2.2 percent.

Traders were disappointed to see first-time unemployment claims rise last week, breaking a recent trend of declines. The Labor Department said claims jumped by 12,000 and are still at levels that signal employers are not significantly adding new jobs.

"It's all about jobs right now," said Jack Ablin, chief investment officer at Harris Private Bank. "When claims pick up, that's a worrisome sign."

Unemployment claims had fallen consistently in recent weeks, reducing worries that the economy might fall back into recession. Modest improvements in many economic reports have driven stocks sharply higher in September.

The Dow Jones industrial average rose 13 of the past 16 days, but broke a five-day winning streak on Wednesday. Some market watchers are starting to think the rally may have run its course.

"We've had a really good run that people didn't expect and now we're asking, 'Does the news support it?'" Nicholas Colas, chief market strategist at BNY ConvergEx. The answer today was, 'No.'"

The Dow Jones industrial average fell 76.89, or 0.7 percent, to close at 10,662.42.

The Standard & Poor's 500 index fell 9.45, or 0.8 percent, to 1,124.83, falling back below a closely watched threshold of 1,131. That had been the high end of its recent trading range until Monday, when the index charged above that level and stayed there, something analysts see as a bullish sign. Prior to Monday, the S&P had only crossed above 1,131 one time since June 21.

The Nasdaq composite index fell 7.47, or 0.3 percent, to 2,327.08.

Falling stocks outpaced rising ones two to one on the New York Stock Exchange, where volume came to 950 million shares.

Stocks erased some of their losses on news that home sales climbed back from 15-year lows in August and an index of future economic activity rose more than expected. Stocks turned lower in the last hour after trading mixed for much of the day.

The yield on the 10-year Treasury note, a widely used benchmark for consumer and business loans, was flat at 2.55 percent.

Gold gained $4.20 to settle a record $1,296.30 an ounce. Gold has hit a series of record highs over the past two weeks as investors seek safe stores of value as the dollar weakens and after the Federal Reserve said it was ready to push interest rates lower and encourage slightly more inflation. Investors seek out gold as a hedge against inflation and a weak dollar, and when other assets appear to be too risky.


----------



## bigdog

Source: http://finance.yahoo.com

*For the week, the Dow is up 2.4 percent, the S&P 2.1 percent, the Nasdaq 2.8 percent.*

Stocks rose sharply on Friday, giving the market its fourth straight week of gains, after a big increase in orders for manufactured goods allowed investors to shake off several days of doldrums.

The Dow Jones industrial average jumped nearly 200 points, its first gain in three days. The market has now had its longest winning streak since an eight-week run ending in late April that pushed stocks to their highest levels of the year.

A surprise jump in durable goods orders and corporate spending provided the boost to U.S. stocks, as did a strong earnings report from Nike Inc. and an increase in new home sales last month.

Gold prices climbed to another record, briefly touching $1,300 an ounce, as many investors remained cautious. The dollar and Treasury prices fell.

*The NYSE DOW closed HIGHER +197.84  points +1.86% on Friday September 24*
Sym. Last......... .......Change..........
Dow 10,860.26 +197.84 +1.86% 
Nasdaq 2,381.22 +54.14 +2.33% 
S&P 500 1,148.67 +23.84 +2.12% 
30-yr Bond 3.7930% +0.6000 

NYSE Volume 4,386,440,500  (prior day 4,079,335,750)
Nasdaq Volume 2,028,369,000  (prior day 1,958,905,000)  

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,598.48 +51.40 +0.93% 
DAX 6,298.30 +113.59 +1.84% 
CAC 40 3,782.48 +71.87 +1.94% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,471.67 -94.65 -0.99% 
Hang Seng 22,119.43 +71.72 +0.33% 
Straits Times 3,091.41 +8.28 +0.27% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks reignite a rally as economic woes fade

Stocks jump, sending Dow up 200, as better economic news snaps market out of doldrums *

Stephen Bernard, AP Business Writer, On Friday September 24, 2010, 5:42 pm 

NEW YORK (AP) -- Stocks rose sharply on Friday, giving the market its fourth straight week of gains, after a big increase in orders for manufactured goods allowed investors to shake off several days of doldrums.

The Dow Jones industrial average jumped nearly 200 points, its first gain in three days. The market has now had its longest winning streak since an eight-week run ending in late April that pushed stocks to their highest levels of the year.

A surprise jump in durable goods orders and corporate spending provided the boost to U.S. stocks, as did a strong earnings report from Nike Inc. and an increase in new home sales last month.

Gold prices climbed to another record, briefly touching $1,300 an ounce, as many investors remained cautious. The dollar and Treasury prices fell.

Industrial stocks including General Electric Co., Caterpillar Inc. and United Technologies Corp. gained after the Commerce Department reported that orders for durable goods excluding transportation rose last month at their fastest pace in five months, while corporate spending also rose.

Stocks have been volatile in recent days as investors react to the latest economic reports. Much of the economic news throughout September has been better than expected, pushing indexes sharply higher during the month after a big sell-off in August.

Zahid Siddique, an associate portfolio manager at Gabelli Equity Trust Inc., said traders are only reacting to the latest news because there still isn't certainty about the pace of recovery.

"Based on the daily data they get, they move the market one way or another," Siddique said.

The Dow Jones industrial average rose 197.84, or 1.9 percent, to close at 10,860.26. The Dow has risen 8.4 percent in September, but is only up 4.1 percent for the year and is still 3.1 percent below its 2010 high reached on April 26. The Dow is on track for its best performance for September, which is usually a weak month for stocks, since 1939.

The Standard & Poor's 500 index rose 23.84, or 2.1 percent, to 1,148.67, ending a three-day losing streak. The index, a commonly used benchmark for professional investors, also climbed back above a key technical trading level Friday.

The Nasdaq composite index rose 54.14, or 2.3 percent, to 2,381.22. The technology-focused index has been the best performer during this month's rally, jumping 12.6 percent.

For the week, the Dow is up 2.4 percent, the S&P 2.1 percent, the Nasdaq 2.8 percent.

One simple explanation for this month's surge is that many people were keeping money in cash at the start of September and didn't want to miss out on the rally once it got going, said Cleve Rueckert, an equity strategist at Birinyi Associates, a money management and research firm.

"You're in cash and want to buy stocks, and you're looking at a market that isn't going down," he said. "You start chasing it."

A separate report from the Commerce Department showed sales of new homes in August rebounded slightly from the lowest level on records dating back to 1963 in July. Sales rose 4.3 percent.

The modest rise in sales followed a similar report Thursday that showed sales of previously occupied homes rose in August from depressed levels in July. Sales plummeted in the months after a home buyer tax credit expired at the end of April, but analysts are becoming hopeful that the beleaguered housing market may be bottoming out.

Nike rose $1.90 or 2.5 percent, to $79.57. GE rose 52 cents, or 3.2 percent, to $16.46, while Caterpillar jumped $3.47, or 4.6 percent, to $79.73. United Technologies shares rose $1.70, or 2.4 percent, to $71.50.

Bond prices fell after the durable goods orders report. The yield on the 10-year Treasury note, which is used to set interest rates on loans, rose to 2.61 percent from 2.55 percent late Thursday.

About five stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 4.2 billion shares.

1259


----------



## bigdog

Source: http://finance.yahoo.com

A late slide in stocks saps energy from a 4-week rally; Dow Jones industrials lose 48 

Stocks took a pause Monday from their big September rally as worries about the financial sector offset excitement over a fresh round of corporate dealmaking.

The Dow Jones industrial average lost 48 points in a late-day slide, but it's still up 8 percent for the month, putting it on track for its best September since 1939.

Chip Brian, CEO of SmarTrend, an electronic trend trading system, said Monday's modest decline was largely tied to investors pocketing profits racked up during the market's four-week rally.

Prior to Monday the Dow Jones industrial average had risen in each of the past four weeks, its longest winning streak since eight consecutive weekly gains ended in late April when stocks hit their highest levels of the year.

*The NYSE DOW closed LOWER -48.22  points  -0.44% on Monday September 27*
Sym. Last......... .......Change..........
Dow 10,812.04 -48.22 -0.44% 
Nasdaq 2,369.77 -11.45 -0.48% 
S&P 500 1,142.16 -6.51 -0.57% 
30-yr Bond 3.6990% -0.9400 

NYSE Volume 3,798,316,500  (prior day 4,386,440,500)
Nasdaq Volume 1,894,619,250  (prior day 2,028,369,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,573.42 -25.06 -0.45% 
DAX 6,278.89 -19.41 -0.31% 
CAC 40 3,766.16 -16.32 -0.43% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,603.14 +131.47 +1.39% 
Hang Seng 22,340.84 +221.41 +1.00% 
Straits Times 3,113.46 +20.78 +0.67% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks edge lower after 4 straight weeks of gains

A late slide in stocks saps energy from a 4-week rally; Dow Jones industrials lose 48 *

Stephen Bernard, AP Business Writer, On Monday September 27, 2010, 6:03 pm 

NEW YORK (AP) -- Stocks took a pause Monday from their big September rally as worries about the financial sector offset excitement over a fresh round of corporate dealmaking.

The Dow Jones industrial average lost 48 points in a late-day slide, but it's still up 8 percent for the month, putting it on track for its best September since 1939.

Chip Brian, CEO of SmarTrend, an electronic trend trading system, said Monday's modest decline was largely tied to investors pocketing profits racked up during the market's four-week rally.

Prior to Monday the Dow Jones industrial average had risen in each of the past four weeks, its longest winning streak since eight consecutive weekly gains ended in late April when stocks hit their highest levels of the year.

"The September rally has been surprisingly resilient," Bryan said. But investors might be ready to put the brakes on the run-up so they can wait to see what happens during earnings season, which kicks off next week, Bryan said.

Financial stocks mostly dipped as concern remains about the health of Europe's banking sector. Moody's Investors Service cut its rating on Anglo Irish Bank Corp., one of Europe's more troubled banks in recent months. Global banking giants like Barclays PLC and JPMorgan Chase & Co. each fell more than 1 percent.

With no major economic reports to drive trading, investors focused on individual stocks after major deals in the airline, consumer products and retailing industries.

The Dow Jones industrial average fell 48.22, or 0.4 percent, to close at 10,812.04.

The Standard & Poor's 500 index dropped 6.51, or 0.6 percent, to 1,142.16, while the Nasdaq composite index fell 11.45, or 0.5 percent, to 2,369.77.

In deal news, consumer products giant Unilever NV agreed to buy beauty products maker Alberto Culver Co. for $3.7 billion. Southwest Airlines Co. will purchase AirTran Holdings Inc. for about $1.4 billion. Wal-Mart Stores Inc. proposed to buy South African consumer goods distributor Massmart Holdings Ltd. for about $4.25 billion.

Michael Sansoterra, portfolio manager of the RidgeWorth Large Cap Growth Fund, said the latest deals are a sign companies are confident economic growth will pick up in the coming quarters. Acquisition activity has been booming this month as companies become more willing to invest some of their large cash reserves built up during the recession.

"The timing is never certain, but smart companies are saying, 'If not now, when?'" Sansoterra said. "This is the time to be doing it."

Shares of Unilever, which makes Dove soaps, Axe deodorants and Suave shampoos, rose 34 cents to $29.71. Alberto Culver, which makes beauty products such as TRESemme, VO5 and Simple, jumped $6.16, or 19.6 percent, to $37.64.

AirTran shares jumped $2.79, or 61.3 percent, to $7.34. The deal valued Airtran shares at $7.69. Southwest rose $1.07, or 8.7 percent, to $13.35.

Wal-Mart shares fell 60 cents to $53.48.

JPMorgan shares fell 67 cents to $39.08. Barclays dropped 22 cents to $19.59.

Traders who prefer to look at the broader economic picture will get plenty of data later in the week to review. Traders get reports on consumer sentiment, weekly jobless claims and a final reading on second-quarter gross domestic product before the month ends Thursday.

On Friday, traders receive a key report on the manufacturing sector. The same monthly report helped jump-start the September rally when it was released at the beginning of the month.

Bond prices rose Monday, indicating some investors continued to seek safer alternatives to stocks. Even with stocks rising sharply throughout the month, money has regularly flowed into bonds and other perceived safe investments like gold.

The yield on the 10-year Treasury note, which moves opposite its price, fell to 2.53 percent from 2.61 percent late Friday.

Falling stocks outpaced rising ones four to three on the New York Stock Exchange, where consolidated volume came to 3.6 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

A late push gave stock indexes moderate gains Tuesday as investors brushed off news that consumer confidence dropped to its lowest level since February.

A big jump in earnings from Walgreen Co. and another corporate acquisition gave investors enough confidence to extend a four-week rally. Stocks were mixed for much of the day but struggled higher at the finish.

With only two trading days left this month, the Dow Jones industrial average is on track for its best September since 1939 with a gain of 8.4 percent so far. It's still up only 4.1 percent for the year.

Stocks got off to a bad start after the Conference Board said its September reading on consumer confidence fell sharply from August and came in well below forecasts. Mostly positive readings from economic data on manufacturing, home sales and jobs have helped push stocks higher this month after a dismal performance on August.

*The NYSE DOW closed HIGHER +46.10 points +0.43%  on Tuesday September 28*
Sym. Last......... .......Change..........
Dow 10,858.14 +46.10 +0.43% 
Nasdaq 2,379.59 +9.82 +0.41% 
S&P 500 1,147.70 +5.54 +0.49% 
30-yr Bond 3.6480% -0.5100 

NYSE Volume 4,219,463,000  (prior day 3,798,316,500)
Nasdaq Volume 2,150,123,500  (prior day 1,894,619,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,578.44 +5.02 +0.09% 
DAX 6,276.09 -2.80 -0.04% 
CAC 40 3,762.35 -3.81 -0.10% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,495.76 -107.38 -1.12% 
Hang Seng 22,109.95 -230.89 -1.03% 
Straits Times 3,097.35 -16.11 -0.52% 

http://finance.yahoo.com/news/Deal-...8.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Deal news helps stocks recover from early losses

Traders shrug off poor consumer confidence reading and send stocks higher, extending rally *

Stephen Bernard, AP Business Writer, On Tuesday September 28, 2010, 5:36 pm 

NEW YORK (AP) -- A late push gave stock indexes moderate gains Tuesday as investors brushed off news that consumer confidence dropped to its lowest level since February.

A big jump in earnings from Walgreen Co. and another corporate acquisition gave investors enough confidence to extend a four-week rally. Stocks were mixed for much of the day but struggled higher at the finish.

With only two trading days left this month, the Dow Jones industrial average is on track for its best September since 1939 with a gain of 8.4 percent so far. It's still up only 4.1 percent for the year.

Stocks got off to a bad start after the Conference Board said its September reading on consumer confidence fell sharply from August and came in well below forecasts. Mostly positive readings from economic data on manufacturing, home sales and jobs have helped push stocks higher this month after a dismal performance on August.

Scott Rostan, founder of Training The Street, which provides courses in financial modeling and corporate valuation, said the small move in stocks compared to the big decline in confidence was indicative of a growing schism between consumers and traders.

"There's a big dichotomy between Main Street sentiment and Wall Street sentiment," Rostan said. Right now, traders are more focused on sentiment and confidence among corporate executives than consumers, he said.

Drug developer Endo Pharmaceuticals Holdings said Tuesday it will buy Qualitest Pharmaceuticals for $1.2 billion. That comes a day after major companies including Unilever NV and Southwest Airlines Co. announced deals. Wal-Mart Stores Inc. said it was pursuing buying a South African company.

In other corporate news, Walgreen Co. soared 11.4 percent after the drugstore chain reported income that easily beat forecasts. Meanwhile technology stocks were being dragged down on disappointment that Research in Motion Ltd. said it would not roll out its competitor to Apple Inc.'s iPad, called the PlayBook, until the beginning of 2011.

The Dow Jones industrial average rose 46.10, or 0.4 percent, to 10,858.14. It's up 8.4 percent so far in September, and extraordinary showing for a month that is historically a weak one for the market.

Investors are "looking beyond today's news at broader indications a double-dip (recession) is more and more remote," said Joe Heider, a principal at Rehmann Financial.

If the Dow can climb above 11,000 it would be a strong indication the market is ready to break out of the broad trading range it's been stuck in since hitting its 2010 high in late April, Heider said.

The Standard & Poor's 500 index rose 5.54, or 0.5 percent, to 1,147.70, while the Nasdaq composite index rose 9.82, or 0.4 percent, to 2,379.59.

Treasury prices rose after the weak report on consumer confidence, driving interest rates lower. The yield on the 10-year Treasury note, which is often used to set interest rates on loans, fell to 2.47 percent from 2.53 percent late Monday.

Apple shares fell $4.30 to $286.86 on heavy volume. Its price plummeted $16.77, or 5.7 percent, in the first three minutes of trading before quickly recovering most of those losses.

Endo Pharmaceuticals shares rose $2.49, or 8.1 percent, to $33.10. Research in Motion shares fell $1.45, or 3 percent, to $46.91. Walgreen rose $3.46 to $33.81.

Rising stocks outpaced falling ones two to one on the New York Stock Exchange, where consolidated volume came to 4.1 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks slipped in muted trading Wednesday as traders held back ahead of corporate earnings announcements, which start to roll in next week. Protests in Europe against austerity measures renewed worries about the region's finances and helped keep buyers at bay.

The dollar fell further against other currencies as traders anticipate more action by the Federal Reserve to push U.S. interest rates down. Gold climbed past $1,300.

Most sectors fell on the stock market except for energy, which rose after crude oil prices gained. Schlumberger Ltd., Occidental Petroleum Corp. and other companies rose after the price of crude oil jumped on news that inventories fell last week. Benchmark crude for November delivery rose $1.68 to settle at $77.86 a barrel on the New York Mercantile Exchange.

Trading was relatively subdued with no major economic reports or corporate earnings due out. Third-quarter earnings season gets under way Oct. 7 with Alcoa Inc.

*The NYSE DOW closed LOWER -22.86 points -0.21% on Wednesday September 29*
Sym. Last......... .......Change..........
Dow 10,835.28 -22.86 -0.21% 
Nasdaq 2,376.56 -3.03 -0.13% 
S&P 500 1,144.73 -2.97 -0.26% 
30-yr Bond 3.6910% +0.0430 

NYSE Volume 4,256,400,000  (prior day 4,219,463,000)
Nasdaq Volume 2,116,654,000  (prior day 2,150,123,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,569.27 -9.17 -0.16% 
DAX 6,246.92 -29.17 -0.46% 
CAC 40 3,737.12 -25.23 -0.67% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,559.38 +63.62 +0.67% 
Hang Seng 22,378.67 +268.72 +1.22% 
Straits Times 3,106.03 +8.68 +0.28% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Stocks slip as European protests worsen debt fears

Stocks falter, following European markets lower on austerity protests *

On Wednesday September 29, 2010, 5:39 pm 

NEW YORK (AP) -- Stocks slipped in muted trading Wednesday as traders held back ahead of corporate earnings announcements, which start to roll in next week. Protests in Europe against austerity measures renewed worries about the region's finances and helped keep buyers at bay.

The dollar fell further against other currencies as traders anticipate more action by the Federal Reserve to push U.S. interest rates down. Gold climbed past $1,300.

Most sectors fell on the stock market except for energy, which rose after crude oil prices gained. Schlumberger Ltd., Occidental Petroleum Corp. and other companies rose after the price of crude oil jumped on news that inventories fell last week. Benchmark crude for November delivery rose $1.68 to settle at $77.86 a barrel on the New York Mercantile Exchange.

Trading was relatively subdued with no major economic reports or corporate earnings due out. Third-quarter earnings season gets under way Oct. 7 with Alcoa Inc.

"The big drivers of the market were just absent today," said Kim Caughey, an equity research analyst at Fort Pitt Capital Group in Pittsburgh. "Everyone is sitting around waiting for earnings season to begin."

Wednesday's decline in U.S. stocks marked another pause in a monthlong rally that has made this September one of the strongest for U.S. stocks in history. With only one trading day left this month, the Dow Jones industrial average is on track for its best September since 1939 with a gain of 8.2 percent so far. It's still up only 3.9 percent for the year.

The Dow Jones industrial average lost 22.86, or 0.2 percent, to close at 10,835.28

The Standard & Poor's 500 index slipped 2.97, or 0.3 percent, to 1,144.73, and the Nasdaq composite fell 3.03, or 0.1 percent, to 2,376.56.

European markets fell as demonstrators gathered in Brussels, where the European Union is based, and in several of the bloc's member countries to protest austerity measures aimed at preventing another crisis like the one that required a bailout of Greece earlier this year. The protests raised concerns that countries like Spain will not be able to implement policies required to heal their bloated public finances.

Kate Warne, investment strategist at Edward Jones in St. Louis, said the protests in Europe suggest those countries will have trouble implementing austerity measures and that that's spooked markets there.

"Governments will have more difficulty making cuts to get their budgets in order," she said.

U.S. stocks swooned this spring as a fiscal crisis in Greece appeared to be spreading to other weak European economies like Portugal and Spain. A relative calm in European markets since then has allowed U.S. stocks to rise sharply.

Rising stocks narrowly outpaced falling ones on the New York Stock Exchange, where volume came to 1 billion shares.

Bond prices edged lower. The yield on the 10-year Treasury note edged up to 2.50 percent from 2.47 percent late Tuesday.

There's a growing certainty within the bond market that the Federal Reserve will attempt to spur economic activity through pushing long-term interest rates down further. To do that, the Fed would buy more Treasurys, lifting bond prices and lowering yields. That would also keep downward pressure on the dollar.

Schlumberger rose $1.23, or 2 percent, to $61.52, while Occidental Petroleum rose $1.12, or 1.5 percent, to $76.63.

Gold rose $2 to $1,310.30, a day after settling above $1,300 for the first time.

The euro rose to as high as $1.3647 Wednesday, its strongest point since mid-April. In late trading in New York, the euro was worth $1.3643, up from $1.3567 late Tuesday.


----------



## bigdog

Source: http://finance.yahoo.com

Dow Jones industrial average ends rally on weak note, still has best September since 1939

Stocks ended a monthlong rally on a weak note, but still chalked up the best September in 71 years.

Indexes rose sharply at the open Thursday following some better news on the economy, but stumbled at midmorning and stayed lower the rest of the day as traders pulled out profits following a spectacular run for the market in September. The Dow Jones industrial average closed down 47 points, having been up as many as 113 earlier in the day.

The Dow gained 7.7 percent in the month, making it the strongest September since 1939, at the dawn of World War II. However that runup followed a dismal August, and the Dow is still only up 3.5 percent for the year and is 3.7 percent below its closing high for 2010 reached on April 26.

Technology shares, which have been among the best performers this month, led Thursday's pullback. Major technology companies like Apple Inc., IBM Corp. and Oracle Corp. were all down about 1 percent.

*The NYSE DOW closed LOWER -47.23 points -0.44% on Thursday September 30*
Sym. Last......... .......Change..........
Dow 10,788.05 -47.23 -0.44% 
Nasdaq 2,368.62 -7.94 -0.33% 
S&P 500 1,141.20 -3.53 -0.31% 
30-yr Bond 3.6870% -0.0400 

NYSE Volume 4,730,451,500  (prior day 4,256,400,000)
Nasdaq Volume 2,467,969,000  (prior day 2,116,654,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,548.62 -20.65 -0.37% 
DAX 6,229.02 -17.90 -0.29% 
CAC 40 3,715.18 -21.94 -0.59% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,369.35 -190.03 -1.99% 
Hang Seng 22,358.17 -20.50 -0.09% 
Straits Times 3,097.63 -8.40 -0.27% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks end bullish month on weak note; Dow off 47

Dow Jones industrial average ends rally on weak note, still has best September since 1939* 

Stephen Bernard, AP Business Writer, On Thursday September 30, 2010, 5:31 pm 

NEW YORK (AP) -- Stocks ended a monthlong rally on a weak note, but still chalked up the best September in 71 years.

Indexes rose sharply at the open Thursday following some better news on the economy, but stumbled at midmorning and stayed lower the rest of the day as traders pulled out profits following a spectacular run for the market in September. The Dow Jones industrial average closed down 47 points, having been up as many as 113 earlier in the day.

The Dow gained 7.7 percent in the month, making it the strongest September since 1939, at the dawn of World War II. However that runup followed a dismal August, and the Dow is still only up 3.5 percent for the year and is 3.7 percent below its closing high for 2010 reached on April 26.

Technology shares, which have been among the best performers this month, led Thursday's pullback. Major technology companies like Apple Inc., IBM Corp. and Oracle Corp. were all down about 1 percent.

"You can't underestimate people taking profits," said T.C. Robillard Jr., a managing director at investment bank Signal Hill. Robillard said that like most reports throughout the month, Thursday's batch of data only confirmed that the economy is growing very slowly.

Major indexes have been surging all month on signs of incremental improvement in the economy, which have allayed worries that the country would fall back into recession.

The Dow Jones industrial average fell 47.23, or 0.4 percent, to 10,788.05. The Dow had risen 113 in the opening minutes of trading on improved economic news before pulling back.

Brett D'Arcy, chief investment officer at CBIZ Wealth Management Group, said traders might have also pulled back because the Dow was approaching the psychological barrier of 11,000. The Dow came within 52 points of that level Thursday morning. It has not touched 11,000 since May 4.

"We haven't broken out of that mental cycle that this market might be range bound," D'Arcy said.

The Standard & Poor's 500 index fell 3.53, or 0.3 percent, to 1,141.20, while the Nasdaq composite fell 7.94, or 0.3 percent, to 2,368.62.

Traders were initially upbeat Thursday after a reading on regional manufacturing in the Chicago area jumped in September. Economists had expected the Chicago Purchasing Managers Index to fall slightly. That regional manufacturing report bodes well heading into Friday's monthly report on national manufacturing activity from the Institute for Supply Management.

"The jump in Chicago PMI was nothing short of shocking," said Nick Kalivas, vice president of financial research at MF Global. "It was complemented by the drop in (unemployment) claims."

The Labor Department said Thursday that first-time claims for unemployment benefits fell more than economists had predicted last week. Applications are still at levels that indicate employers aren't necessarily ramping up hiring, but at least the pace of firings seems to be slowing.

The government also slightly raised its estimate on second-quarter gross domestic product, the broadest measure of the nation's economic activity. The government said GDP grew at a 1.7 percent pace in the second quarter, better than the 1.6 percent pace estimated a month ago.

Bond prices fell, driving interest rates higher, after the upbeat economic reports dampened demand for defensive investments like bonds. The yield on the 10-year Treasury note, which is used to set interest rates on many kinds of consumer and corporate loans, rose to 2.51 percent from 2.50 percent late Wednesday.

Rising stocks narrowly outpaced falling ones on the New York Stock Exchange, where consolidated volume came to 4.5 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average rose 41.63, or 0.4 percent, to close at 10,829.68. It's down 0.3 percent for the week and up 3.9 percent for the year.

The Standard & Poor's 500 index rose 5.04, or 0.4 percent, to 1,146.24. It's down 0.2 percent for the week and up 2.8 percent for the year.

The Nasdaq composite rose 2.13, or 0.1 percent, to 2,370.75. The technology-heavy index is down 0.4 percent for the week and up 4.5 percent for the year, making it the best-performing major stock index for 2010.

Stocks started off October on a positive note following mostly good news on the economy.

Shares of big manufacturing companies like Boeing Co., General Electric Co. and 3M Co. rose Friday after the Institute for Supply Management said its manufacturing index showed that factory activity was still expanding in September, although not quite as fast as analysts had hoped and slightly slower than the month before.

Stock indexes started the day higher but gave up some of their gains late in the day. The market is coming off a major surge that brought the Dow Jones industrial average up 10.4 percent in the third quarter, and its upward momentum may be waning. The Dow and the Standard & Poor's 500 index both had their first down week after four weeks of gains.

"Expectations have risen slightly" for the economy in the past month, said Eric Thorne, an investment adviser at Bryn Mawr Trust Wealth Management. "While that's a good thing, it also means that data needs to show significant signs of improvement to drive stocks higher."

*The NYSE DOW closed HIGHER +41.63 points +0.39% on Friday October 1*
Sym. Last......... .......Change..........
Dow 10,829.68 +41.63 +0.39% 
Nasdaq 2,370.75 +2.13 +0.09% 
S&P 500 1,146.24 +5.04 +0.44% 
30-yr Bond 3.7210% +0.3400 

NYSE Volume 4,510,646,000  (prior day 4,730,451,500)
Nasdaq Volume 1,943,262,125  (prior day 2,467,969,000)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,592.90 +44.28 +0.80% 
DAX 6,211.34 -17.68 -0.28% 
CAC 40 3,692.09 -23.09 -0.62% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,404.23 +34.88 +0.37% 
Hang Seng 22,358.17 -20.50 -0.09% 
Straits Times 3,131.17 +33.54 +1.08% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks nudge higher as manufacturing improves

Stocks edge higher at start of 4th quarter as signs of slow growth keep lid on gains *

Stephen Bernard, AP Business Writer, On Friday October 1, 2010, 6:08 pm EDT 

NEW YORK (AP) -- Stocks started off October on a positive note following mostly good news on the economy.

Shares of big manufacturing companies like Boeing Co., General Electric Co. and 3M Co. rose Friday after the Institute for Supply Management said its manufacturing index showed that factory activity was still expanding in September, although not quite as fast as analysts had hoped and slightly slower than the month before.

Stock indexes started the day higher but gave up some of their gains late in the day. The market is coming off a major surge that brought the Dow Jones industrial average up 10.4 percent in the third quarter, and its upward momentum may be waning. The Dow and the Standard & Poor's 500 index both had their first down week after four weeks of gains.

"Expectations have risen slightly" for the economy in the past month, said Eric Thorne, an investment adviser at Bryn Mawr Trust Wealth Management. "While that's a good thing, it also means that data needs to show significant signs of improvement to drive stocks higher."

Stocks jumped after the opening bell on signs of strong growth in Chinese manufacturing. Traders were sorting through other reports suggesting that U.S. economic growth remains sluggish.

Personal income and spending both rose more than expected in August, with incomes jumping by their fastest pace in eight months. However the savings rate also climbed, an indication that spending might not climb much in the near future. Consumer sentiment was better than initially thought in September, but still not quite as strong as it was in August.

Taken together, the batch of U.S. economic reports point to "very slow growth," said Bob Enck, president and CEO of Equinox Fund Management. "It tells us there's still uncertainty."

The Dow Jones industrial average rose 41.63, or 0.4 percent, to close at 10,829.68. It's down 0.3 percent for the week and up 3.9 percent for the year.

The Standard & Poor's 500 index rose 5.04, or 0.4 percent, to 1,146.24. It's down 0.2 percent for the week and up 2.8 percent for the year.

The S&P 500 again touched the 1,150 level in early trading Friday, but was unable to hold above that threshold as it remains somewhat range bound. It was the sixth straight day the S&P came within or breached 1,150, a level it has not closed above since early May.

The Nasdaq composite rose 2.13, or 0.1 percent, to 2,370.75. The technology-heavy index is down 0.4 percent for the week and up 4.5 percent for the year, making it the best-performing major stock index for 2010.

About two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 4.3 billion shares.

In corporate news, Hewlett-Packard Co. dropped after the computer company named Leo Apotheker, the former head of business software maker SAP AG, its new CEO. Shares fell $1.30, or 3.1 percent, to $40.77.

United and Continental closed a deal to create the world's biggest airline Friday. Shares of the newly combined company, United Continental Holdings Inc., jumped $1.04, or 4.4 percent, to $24.70.

Boeing shares rose 29 cents to $66.83. GE climbed 11 cents to $16.36, while 3M rose 91 cents o $87.62.

Bond prices and interest rates were little changed. The yield on the 10-year Treasury note, which is a benchmark for interest rates on mortgages and other loans, was flat at 2.51 percent.

1732


----------



## bigdog

Source: http://finance.yahoo.com

Stocks fell Monday as investors took a pause from a historic rally in September and held back ahead of a busy week of economic and earnings reports.

The Dow Jones industrial average lost nearly 80 points after factory orders fell slightly more than expected in August and contracts for new homes remained far below last year's pace.

Analysts say the market was due for a pullback following a 10.4 percent gain in the Dow last month. The monthlong rally has come on relatively low volume, a sign that many investors are still waiting on the sidelines.

*The NYSE DOW closed LOWER -78.41 points -0.72% on Monday October 4*
Sym. Last......... .......Change..........
Dow 10,751.27 -78.41 -0.72% 
Nasdaq 2,344.52 -26.23 -1.11% 
S&P 500 1,137.03 -9.21 -0.80% 
30-yr Bond 3.7100% -0.1100 

NYSE Volume 3,810,693,500  (prior day  4,510,646,000)
Nasdaq Volume 1,925,765,250  (prior day 1,943,262,125)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,555.97 -36.93 -0.66% 
DAX 6,134.21 -77.13 -1.24% 
CAC 40 3,649.81 -42.28 -1.15% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,381.06 -23.17 -0.25% 
Hang Seng 22,618.66 +260.49 +1.17% 
Straits Times 3,157.45 +26.55 +0.85% 

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks fall at the beginning of a busy week

Stocks fall as traders kick off busy week of economic, earnings reports *

Stephen Bernard, AP Business Writer, On Monday October 4, 2010, 5:34 pm EDT 

NEW YORK (AP) -- Stocks fell Monday as investors took a pause from a historic rally in September and held back ahead of a busy week of economic and earnings reports.

The Dow Jones industrial average lost nearly 80 points after factory orders fell slightly more than expected in August and contracts for new homes remained far below last year's pace.

Analysts say the market was due for a pullback following a 10.4 percent gain in the Dow last month. The monthlong rally has come on relatively low volume, a sign that many investors are still waiting on the sidelines.

In corporate news, American Express Co. sank 6.5 percent after the Justice Department hit the credit card company with an antitrust suit. The government also sued MasterCard and Visa but announced proposed settlements with those two.

Doug Roberts, chief investment strategist at Channel Capital Research, said the market has been trading in a broad range over the past six months. With it approaching the high end of that range, a pullback is not surprising, he said.

The market has been "alternating between euphoria and despair," Roberts said of the wide trading range dating back to late April, when stocks hit their high for the year.

This week brings a number of potentially important news events for stocks, including Friday's monthly jobs survey and earnings on Thursday from Dow industrials component Alcoa Inc., a report that marks the traditional kickoff to the quarterly earnings season.

France's Sanofi-Aventis launched an $18.5 billion hostile takeover offer for Genzyme Corp. Sanofi-Aventis' previous offer was rejected by Genzyme's board, so it is now taking the offer directly to shareholders. The offer, at $69 per share, is unchanged from Sanofi-Aventis' original offer in July.

The Dow Jones industrial average fell 78.41, or 0.7 percent, to close at 10,751.27

The Standard & Poor's 500 index fell 9.21, or 0.8 percent, to 1,137.03. The Nasdaq composite index fell 26.23, or 1.1 percent, to 2,344.52.

The S&P 500 again came within two points of hitting 1,150. The index has come that close or crossed 1,150 each of the past seven days during trading. However, it has been unable to close above the key level during that stretch.

Mike Shea, managing partner at Direct Access Partners LLC, said optimistic profit outlooks from companies as they report earnings in the next few weeks would "absolutely get us through 1,150."

Factory orders fell 0.5 percent in August, slightly worse than the 0.4 percent drop predicted by economists polled by Thomson Reuters. But the drop was largely due to a steep falloff in commercial aircraft orders. Excluding transportation, orders rose 0.9 percent.

The number of buyers that signed contracts to purchase homes rose more than expected in August. The National Association of Realtors pending home sales index rose 4.3 percent, slightly better than the 2.5 percent jump economists predicted.

The housing market remains weak after a home buyer tax credit expired at the end of April. The pending home sales index is 20 percent below where it was just a year ago.

The week's blitz of economic reports and the start of earnings season should provide insight into the economy and help give the market direction. With unemployment still at 9.6 percent, traders will be most closely watching Friday's monthly jobs report.

Sanofi-Aventis shares fell 25 cents to $32.87. Genzyme shares rose 13 cents to $71.01. American Express fell $2.73 to $39.05.

Cautious investors continued to pour money into bonds, sending Treasury prices higher and their yields lower. The yield on the 10-year Treasury note, which helps set interest rates on loans, fell to 2.48 percent from 2.51 percent late Friday.

About three stocks fell for every one that rose on the New York Stock Exchange where consolidated volume came to 3.7 billion shares.


----------



## Dome

It's still a mess out there. So many unemployed in the US ~ blood on the streets. I'm here I know what's happening out there.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks surged to their highest level in five months Tuesday after a report that activity in U.S. services companies powered ahead in September, a hopeful sign for the economy's largest sector and the country's main source of employment.

A surprise move by the Bank of Japan to cut its key interest rate to virtually zero also lifted stocks worldwide. The dollar fell as investors shed defensive assets, and a gauge of U.S. stock market volatility fell.

The Institute for Supply Management reported that the U.S. services industry grew slightly faster in September as demand from customers improved. It was the ninth-straight month of expansion in services, which have been growing at a slower pace in the U.S. relative to the much smaller manufacturing sector.

*The NYSE DOW closed HIGHER +193.45  points +1.80% on Tuesday October 5*
Sym. Last......... .......Change..........
Dow 10,944.72 +193.45 +1.80% 
Nasdaq 2,399.83 +55.31 +2.36% 
S&P 500 1,160.75 +23.72 +2.09% 
30-yr Bond 3.7310% +0.2100 

NYSE Volume 4,934,742,000  (prior day 3,810,693,500)
Nasdaq Volume 2,234,237,500  (prior day 1,925,765,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,635.76 +79.79 +1.44% 
DAX 6,215.83 +81.62 +1.33% 
CAC 40 3,731.93 +82.12 +2.25% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,518.76 +137.70 +1.47% 
Hang Seng 22,639.14 +20.48 +0.09% 
Straits Times 3,162.36 +4.91 +0.16% 
http://finance.yahoo.com/news/Gain-...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Gain in services powers stocks; Dow up nearly 200

Stocks surge to highest level in 5 months after services sector revs up in September *

Seth Sutel, AP Business Writer, On Tuesday October 5, 2010, 4:33 pm 

NEW YORK (AP) -- Stocks surged to their highest level in five months Tuesday after a report that activity in U.S. services companies powered ahead in September, a hopeful sign for the economy's largest sector and the country's main source of employment.

A surprise move by the Bank of Japan to cut its key interest rate to virtually zero also lifted stocks worldwide. The dollar fell as investors shed defensive assets, and a gauge of U.S. stock market volatility fell.

The Institute for Supply Management reported that the U.S. services industry grew slightly faster in September as demand from customers improved. It was the ninth-straight month of expansion in services, which have been growing at a slower pace in the U.S. relative to the much smaller manufacturing sector.

Traders are also hoping to get more positive news from the beginning of corporate earnings reports this week and from another key economic indicator, the Labor Department's monthly jobs survey on Friday. PepsiCo Inc. and Alcoa Inc. report results on Thursday.

In corporate news, Mexican broadcaster Grupo Televisa said it would invest $1.2 billion in Univision Communications, expanding a license deal between the Spanish-language media heavyweights. Televisa's U.S. shares rose 9.8 percent.

The Dow Jones industrial average rose 193.45 points, or 1.8 percent, to close at 10,944.72. All but one of the 30 companies that make up the average rose, led by Boeing Co. and Bank of America Corp. American Express Co. fell again, a day after the company said it would fight an antitrust lawsuit, even after Visa and MasterCard settled similar suits.

The Standard & Poor's 500 index rose 23.72, or 2.1 percent, to 1,160.75. The index broke through 1,150, a level it hadn't traded above since mid-May, and kept on going.

Robert Pavlik, chief market strategist at Banyan Partners LLC in New York, cited another factor in today's upward swing: Even when stocks have fallen lately, the S&P 500 has managed to stay above 1,130, a key technical barrier that it had broken through on Sept. 20. He said that has given jittery investors confidence to buy.

"A lot folks who have cash on the sidelines are being drawn into the market because they don't want to be left behind," Pavlik says. "I think there's potential to get to 1,200 by the end of the year."

The Nasdaq composite index rose 55.31, or 2.4 percent, to 2,399.83.

Other market indicators also suggested growing confidence among investors. An index measuring the dollar against six major currencies fell 0.7 percent, the CBOE Market Volatility Index fell 7.2 percent to its lowest level since Sept. 24, and crude oil rose $1.35 to settle at $82.82 a barrel.

In a surprise move, Japan's central bank cut its key interest rate target to a range of zero to 0.1 percent, and is looking to buy government bonds in an effort to boost the faltering Japanese economy. Japan has been struggling with a strong currency and falling prices, and authorities there intervened in currency markets last month to weaken the yen, but the impact was short-lived.

Investors are also hoping for more action from the Federal Reserve to boost the U.S. economy, and got more encouragement from remarks by Fed Chairman Ben Bernanke late Monday. Bernanke said the economy could be helped by another round of asset purchases by the central bank, and hopes are building that the Fed could announce new measures at its next meeting Nov. 2 and 3.

Stocks were also trading higher in Europe. Britain's FTSE 100 rose 1.4 percent, Germany's DAX index rose 1.3 percent, and France's CAC-40 rose 2.3 percent. Hong Kong's Hang Seng index rose 0.1 percent.

About five stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.2 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average rose 22.93, or 0.2 percent, to close at 10,967.65.

Broader indexes fell. The Standard & Poor's 500 fell 0.78, or 0.1 percent, to 1,159.97, while the Nasdaq composite index fell 19.17, or 0.8 percent, to 2,380.66.

Falling stocks narrowly outpaced rising ones on the New York Stock Exchange, where volume came to 980 million shares.

Stocks closed mostly lower Wednesday after a disappointing report on the jobs market renewed concern about the economy. Treasury yields sank to new lows as investors sought safety and anticipated more stimulus measures from the Federal Reserve.

Payroll company ADP said private employers cut jobs in September for the first time in seven months. Investors are seeing a silver lining in the news, however, hoping that it could help push the Federal Reserve to take more action to get the U.S. economy going next month, including stepping up its purchases of bonds.

"It's just a matter of when and how much," Christian Hviid, chief market strategist at Genworth Financial Asset Management, said of the Fed's likely plans to buy bonds. "The motivation is to keep (interest) rates low."

Gold reached another high and the dollar slumped further against other currencies on anticipation that U.S. interest rates could head even lower if the Fed moves aggressively to buy bonds and take other measures to encourage borrowing.

*The NYSE DOW closed HIGHER +22.93 points +0.21% on Wednesday October 6*
Sym. Last......... .......Change..........
Dow 10,967.65 +22.93 +0.21%  
Nasdaq 2,380.66 -19.17 -0.80% 
S&P 500 1,159.97 -0.78 -0.07% 
30-yr Bond 3.6650% -0.6600

NYSE Volume 4,238,371,000 (prior day  4,934,742,000)
Nasdaq Volume 2,133,545,500 (prior day  2,234,237,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,681.39 +45.63 +0.81% 
DAX 6,270.73 +54.90 +0.88% 
CAC 40 3,764.91 +32.98 +0.88% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,691.43 +172.67 +1.81% 
Hang Seng 22,880.41 +241.27 +1.07% 
Straits Times 3,190.07 +27.71 +0.88% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Stocks dip, Treasury yields drop after jobs data

Stocks edge lower, investors opt for Treasurys after disappointing jobs report from ADP *

Stephen Bernard, AP Business Writer, On Wednesday October 6, 2010, 5:06 pm EDT 

NEW YORK (AP) -- Stocks closed mostly lower Wednesday after a disappointing report on the jobs market renewed concern about the economy. Treasury yields sank to new lows as investors sought safety and anticipated more stimulus measures from the Federal Reserve.

Payroll company ADP said private employers cut jobs in September for the first time in seven months. Investors are seeing a silver lining in the news, however, hoping that it could help push the Federal Reserve to take more action to get the U.S. economy going next month, including stepping up its purchases of bonds.

"It's just a matter of when and how much," Christian Hviid, chief market strategist at Genworth Financial Asset Management, said of the Fed's likely plans to buy bonds. "The motivation is to keep (interest) rates low."

Gold reached another high and the dollar slumped further against other currencies on anticipation that U.S. interest rates could head even lower if the Fed moves aggressively to buy bonds and take other measures to encourage borrowing.

The Dow Jones industrial average rose 23 points, closing at its highest level since early May, but broader indexes dropped and falling stocks outpaced those that climbed. The yield on the two-year Treasury note touched a record low 0.38 percent, and the yield on the 10-year note fell to 2.39 percent. The 10-year yield touched its lowest level since January 2009 when the country was mired in a recession.

More weak economic data in the coming weeks, including any disappointment from Friday's key Labor Department report on employment, could provide further incentive for Fed action.

The Dow Jones industrial average rose 22.93, or 0.2 percent, to close at 10,967.65.

Broader indexes fell. The Standard & Poor's 500 fell 0.78, or 0.1 percent, to 1,159.97, while the Nasdaq composite index fell 19.17, or 0.8 percent, to 2,380.66.

Falling stocks narrowly outpaced rising ones on the New York Stock Exchange, where volume came to 980 million shares.

In corporate news, Johnson & Johnson agreed to buy Dutch biotechnology company Crucell NV for about $2.41 billion. Johnson & Johnson first announced it was planning an offer last month. Johnson & Johnson shares rose 41 cents to $63.21.

In currency trading, the euro moved above $1.39 for the first time since February, while the yen struck a 15-year high as investors anticipate more action from the Fed to lower U.S. interest rates.

The poor showing on the ADP jobs report suggest that the much broader Labor Department jobs survey on Friday "probably won't improve at all," said Mark Luschini, chief market strategist at Janney Montgomery Scott.

A bad jobs report from the government Friday would "increase odds the Fed is more forthcoming and aggressive" in trying to stimulate the economy, he said.

Japan announced similar bond-buying measures Tuesday when it also cut a key interest rate to near zero. The U.S. central bank long ago set interest rates at near zero, leaving it few other options but to buy Treasurys to further drive interest rates lower. If the Fed continues to push interest rates down it could make investing in stocks and other kinds of riskier assets more appealing by comparison.

Private hiring has been slow to pick up as the economy remains sluggish. ADP said private employers cut 39,000 jobs last month.

The ADP report usually comes in below the government's measure of total private payrolls. So far this year, the average difference has been about 75,000. That means Friday's report could show a net increase in private hiring. But the ADP figure does suggest that current forecasts for a gain of about 75,000 private sector jobs could be too high.

Gold prices touched another record high as investors shied away from the dollar, whose value is hurt if the Fed buys more bonds. Gold rose as high as $1,351.00 an ounce before pulling back to settle at $1,347.70, up $7.40 on the day.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks edged lower Thursday, backing away from early gains, as uncertainty built up ahead of a key report on the labor market.

The Dow Jones industrial average came within two points of 11,000 before turning lower for most of the day. The Dow hasn't traded above that level since May 4, about a week after reaching its highest point of the year.

Slightly better news on claims for unemployment insurance gave stocks an early lift, but the gains faded quickly as traders opted for caution ahead of Friday's employment report from the Labor Department, the most crucial piece of news on the economic calendar.

Stocks are coming off a historically strong performance in September, and analysts say the market will need significant doses of positive news on the economy, corporate earnings or, preferably, both before heading decisively higher again. The Dow Jones industrial average gained 10.4 percent in September, but is still 2.1 percent below its 2010 high reached on April 26.

*The NYSE DOW closed LOWER -19.07 points -0.17% on Thursday October 7*
Sym. Last......... .......Change..........
Dow 10,948.58 -19.07 -0.17% 
Nasdaq 2,383.67 +3.01 +0.13% 
S&P 500 1,158.06 -1.91 -0.16% 
30-yr Bond 0.3727% 0.0000 

NYSE Volume 4,123,925,000  (prior day 4,238,371,000)
Nasdaq Volume 1,864,847,380  (prior day 2,133,545,500)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,662.13 -19.26 -0.34% 
DAX 6,276.25 +5.52 +0.09% 
CAC 40 3,770.47 +5.56 +0.15% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,684.81 -6.62 -0.07% 
Hang Seng 22,884.32 +3.91 +0.02% 
Straits Times 3,166.65 -23.42 -0.73% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks dip ahead of jobs news, pull back from 11K

Stocks drop as uncertainty over monthly employment report offsets upbeat weekly data on jobs *

Stephen Bernard, AP Business Writer, On Thursday October 7, 2010, 5:48 pm

NEW YORK (AP) -- Stocks edged lower Thursday, backing away from early gains, as uncertainty built up ahead of a key report on the labor market.

The Dow Jones industrial average came within two points of 11,000 before turning lower for most of the day. The Dow hasn't traded above that level since May 4, about a week after reaching its highest point of the year.

Slightly better news on claims for unemployment insurance gave stocks an early lift, but the gains faded quickly as traders opted for caution ahead of Friday's employment report from the Labor Department, the most crucial piece of news on the economic calendar.

Stocks are coming off a historically strong performance in September, and analysts say the market will need significant doses of positive news on the economy, corporate earnings or, preferably, both before heading decisively higher again. The Dow Jones industrial average gained 10.4 percent in September, but is still 2.1 percent below its 2010 high reached on April 26.

In economic news, first-time claims for unemployment insurance fell last week, a better result than analysts were expecting. Retailers including Macy's Inc., Abercrombie & Fitch and Limited Brands Inc. reported better-than-expected monthly sales, which initially provided a lift to the market.

The retail-sales news was positive, but "there's not enough to move the needle given that we've got the big jobs report" Friday, said Hank Smith, chief investment officer at Haverford Investments.

The Dow Jones industrial average fell 19.07, or 0.2 percent, to close at 10,948.58. The Standard & Poor's 500 index fell 1.91, or 0.2 percent, to 1,158.06, while the Nasdaq composite rose 3.01, or 0.1 percent, to 2,383.67.

Falling stocks narrowly outpaced rising ones on the New York Stock Exchange, where consolidated volume came to 3.9 billion shares.

There is a wide range of expectations for how Friday's jobs report might turn out, said Ed Crotty, chief investor officer at Davidson Investment Advisors. Even upbeat results might not be enough to drive stocks significantly higher.

"If the number is good, there will be skepticism it's not sustainable," Crotty said.

Claims for unemployment insurance have been falling steadily in recent weeks, but still indicate that employers aren't ramping up hiring. Payroll company ADP said Wednesday that private employers trimmed jobs in September for the first time in seven months.

Earnings reporting season got under way for U.S. companies after the market closed Thursday when aluminum maker Alcoa Inc. became the first company that's part of the Dow Jones industrial average to report quarterly results. Alcoa's net income fell 21 percent because of lower metals prices, but the results still beat analysts' expectations.

PepsiCo Inc. reported mixed results earlier in the day. The drink and snack maker said its third-quarter profit jumped in part on revenue gains following its acquisition of its two largest bottlers earlier this year. Earnings matched expectations, but the company narrowed its earnings outlook to a level below analysts' forecasts.

PepsiCo fell $2.01, or 3 percent, to $66.10. Limited Brands shares rose $1.05, or 3.8 percent, to $28.64, while Abercrombie & Fitch jumped $3.44, or 8.9 percent, to $42.03. Macy's rose 15 cents to $23.85.

Bond yields remained near their lowest levels since January 2009 as traders expect the Federal Reserve to step up its purchases of Treasurys in order lower interest rates and encourage borrowing.

Cliff Draughn, president and chief investment officer at Excelsia Investment Advisors, said the Fed could act as early as its next meeting that wraps up Nov. 3. The timing of the Fed re-entering the Treasury market hinges on how the investors react to election results Nov 2.

The yield on the 10-year Treasury note, which moves opposite its price, was unchanged at 2.39 percent compared with late Wednesday. Its yield helps set interest rates on a variety of loans including mortgages.

Mortgage buyer Freddie Mac said rates on traditional 30-year fixed-rate mortgages reached their lowest level on records dating back to 1971.

The dollar continued to fall against other major currencies as traders expect U.S. interest rates to fall further. Currencies with higher interest rates become more attractive to foreign exchange traders when U.S. rates fall.

Gold, which is considered a safe alternative to the dollar, hit another record of $1,366.00 an ounce early Thursday before pulling back to $1,335.00 an ounce.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow rose 57.90, or 0.5 percent, at 11,006.48. The Dow first crossed 11,000 in May of 1999, and reached its highest close of all time on Oct. 9, 2007, when it finished at 14,164.53.

The Dow is up five of the past six weeks, and 5.5 percent for the year.

The Standard & Poor's 500 index gained 7.09, or 0.6 percent, to 1,165.15, and the Nasdaq composite index gained 18.24, or 0.8 percent, to 2,401.91.

The Dow Jones industrial average closed above 11,000 for the first time in five months Friday as hopes built that the Federal Reserve will take more action to get the economy going again.

The milestone, which effectively erases the effects of a long summer slump for stocks, comes one day before the three-year anniversary of the market's all-time high. The Dow is still 22.3 percent below that level.

The last time the Dow closed above 11,000 was May 3, just three days prior to a harrowing "flash crash" that briefly sent stocks plummeting. The Dow had reached its highest level of the year just a week before.

A weaker jobs report added to a series of tepid economic indicators in recent weeks that have built expectations that the Fed will announce new steps to encourage borrowing when it meets in early November.

*The NYSE DOW closed HIGHER +57.90 points +0.53% on Friday October 8*
Sym. Last......... .......Change..........
Dow 11,006.48 +57.90 +0.53% 
Nasdaq 2,401.91 +18.24 +0.77% 
S&P 500 1,165.15 +7.09 +0.61% 
30-yr Bond 0.3727% -3.3403 

NYSE Volume 4,088,665,750  (prior day 4,123,925,000)
Nasdaq Volume 2,019,331,880   (prior day 1,864,847,380)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,657.61 -4.52 -0.08% 
DAX 6,291.67 +15.42 +0.25% 
CAC 40 3,763.18 -1.73 -0.05% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,588.88 -95.93 -0.99% 
Hang Seng 22,944.18 +59.86 +0.26% 
Straits Times 3,153.34 -13.31 -0.42% 

http://finance.yahoo.com/news/Dow-c...2.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Dow closes above 11,000 for first time since May

Hopes for Fed action on economy send Dow Jones industrials above 11K for first time since May *

Stephen Bernard, AP Business Writer, On Friday October 8, 2010, 5:54 pm 

NEW YORK (AP) -- The Dow Jones industrial average closed above 11,000 for the first time in five months Friday as hopes built that the Federal Reserve will take more action to get the economy going again.

The milestone, which effectively erases the effects of a long summer slump for stocks, comes one day before the three-year anniversary of the market's all-time high. The Dow is still 22.3 percent below that level.

The last time the Dow closed above 11,000 was May 3, just three days prior to a harrowing "flash crash" that briefly sent stocks plummeting. The Dow had reached its highest level of the year just a week before.

A weaker jobs report added to a series of tepid economic indicators in recent weeks that have built expectations that the Fed will announce new steps to encourage borrowing when it meets in early November.

Private employers added 64,000 workers last month, short of the 75,000 economists expected, according to a monthly government report released early Friday. Overall, 95,000 jobs were slashed as governments laid off workers, including temporary census employees. The unemployment rate held steady at 9.6 percent.

Jason Pride, director of investment strategy at wealth management firm Glenmede, said that the weak report gives the Fed "the window of opportunity to take action."

The Fed's goal, if it starts buying bonds again, would be to drive interest rates down further from their already low levels and spark borrowing and spending. Lower rates could also eventually drive investors into riskier assets like stocks or into currencies in countries with more attractive interest rates.

Alcoa Inc. was the biggest gainer among the 30 stocks that make up the Dow Jones industrial average after reporting earnings that beat expectations late Thursday. Shares of the aluminum maker rose 5.7 percent to close at $12.89 after the company raised its forecast for global aluminum consumption.

Alcoa is traditionally the first of the Dow 30 to report earnings and is often seen as a bellwether for industrial companies. Other materials companies such as Freeport-McMoRan Copper & Gold Inc. and Dow Chemical Co. also rose.

The Dow rose 57.90, or 0.5 percent, at 11,006.48. The Dow first crossed 11,000 in May of 1999, and reached its highest close of all time on Oct. 9, 2007, when it finished at 14,164.53.

The Dow is up five of the past six weeks, and 5.5 percent for the year.

The Standard & Poor's 500 index gained 7.09, or 0.6 percent, to 1,165.15, and the Nasdaq composite index gained 18.24, or 0.8 percent, to 2,401.91.

Employers have not started hiring a lot of workers because of worries about potential tax hikes and unknown costs associated with health care and financial regulatory reform passed earlier this year. Consumers have also kept their spending down, which has kept a lid on hiring.

Earnings are likely to become more of a factor in the market's direction in the coming weeks as hundreds of companies report results.

Carole Peck, president and founder of Carole Peck Financial Center, said "if we see positive earnings, and projections for the fourth quarter are fairly decent, that should play positively."

Strong earnings results and upbeat corporate outlooks drove the Dow up 7.1 percent in July.

About three stocks rose for every two that fell on the New York Stock Exchange, where volume came to 945 million shares.

2197


----------



## bigdog

Source: http://finance.yahoo.com

Stocks struggled to a mixed finish on Monday, just days after the Dow Jones industrial average rose above 11,000 for the first time since early May.

Trading was muted with no major economic or earnings reports out. Investors were looking ahead to more corporate earnings this week. The Dow was stuck in a 35-point range throughout the day.

Bond trading was closed for Columbus Day.

Investors have been betting that the Federal Reserve will act in the coming weeks to stimulate the economy and drive interest rates lower. Hopes have been building that the Fed could announce an expansion of its bond-buying program as soon as its next meeting Nov. 2-3. 

*The NYSE DOW closed HIGHER +3.86 points +0.04% on Monday October 11*
Sym. Last......... .......Change..........
Dow 11,010.34 +3.86 +0.04% 
Nasdaq 2,402.33 +0.42 +0.02% 
S&P 500 1,165.32 +0.17 +0.01% 
30-yr Bond 0.3727% Bond trading was closed for Columbus Day.

NYSE Volume 3,214,776,250  (prior day 4,088,665,750)
Nasdaq Volume 1,551,447,880  (prior day 2,019,331,880)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,672.40 +14.79 +0.26% 
DAX 6,309.51 +17.84 +0.28% 
CAC 40 3,768.49 +5.31 +0.14% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,588.88 closed for holiday
Hang Seng 23,207.31 +263.13 +1.15% 
Straits Times 3,163.41 +10.07 +0.32% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=8&asset=&ccode=

*Stocks end flat at the start of busy earnings week

Stocks struggle to end with meager gains ahead of earnings and economic reports later in week *

Stephen Bernard, AP Business Writer, On Monday October 11, 2010, 4:29 pm

NEW YORK (AP) -- Stocks struggled to a mixed finish on Monday, just days after the Dow Jones industrial average rose above 11,000 for the first time since early May.

Trading was muted with no major economic or earnings reports out. Investors were looking ahead to more corporate earnings this week. The Dow was stuck in a 35-point range throughout the day.

Bond trading was closed for Columbus Day.

Investors have been betting that the Federal Reserve will act in the coming weeks to stimulate the economy and drive interest rates lower. Hopes have been building that the Fed could announce an expansion of its bond-buying program as soon as its next meeting Nov. 2-3. The bond market was closed Monday for the Columbus Day holiday.

Tom Samuels, managing partner at Palantir Capital Management, said the stock market has even been reacting to disappointing reports in recent days because that adds to the expectations the Fed will act soon.

"The market is trying to convince itself that good news is good news and bad news is good news," Samuels said. The Dow has risen five of the past six weeks and is now less than 2 percent from its highest level of the year, which it touched in late April.

Interest rates have also been plummeting in anticipation of the Fed's move, and those lower rates make stocks more attractive.

"The 10-year rate is going to make stocks look cheaper and cheaper compared to bonds," said Bob Phillips, managing partner at Spectrum Management Group. The yield on the 10-year Treasury note is often used to set interest rates on loans. It was at 2.39 percent Friday, near its lowest level since January 2009.

Traders will get key economic reports at the end of the week, including data on inflation, retail sales and consumer sentiment, that could influence trading. The Fed has said part of the reason it might buy bonds is to get inflation more in line with historical levels.

In corporate news, shares of Gymboree Corp. jumped 22.6 percent after Bain Capital agreed to buy the children's clothing retailer for $1.8 billion.

Earnings season also picks up this week with industry bellwethers Intel Corp., JPMorgan Chase & Co. and General Electric Co. releasing quarterly results.

Channing Smith, portfolio manager at Capital Advisors Growth Fund, said that earnings could take a backseat to the Fed.

"The market is so focused on the Fed stepping in," Smith said. "There will be some interest on revenue growth. (Corporate outlooks) will be important. But the Fed trumps that."

The Dow Jones industrial average gained 3.63, or 0.03 percent, to close at 11,010.11.

The Standard & Poor's 500 index rose 0.15 to 1,165.30, while the Nasdaq composite index rose 0.42, or 0.02 percent, to 2,402.33.

Rising stocks narrowly outpaced declining ones on the New York Stock Exchange, where volume came to 825 million shares.

The dollar rose Monday against the euro and Japan's yen. It had been falling consistently in recent weeks against those two currencies. Lower interest rates on American bonds would make it less attractive for foreign investors to hold the dollar. A weekend meeting of the International Monetary Fund and Group of 20 finance ministers did not yield any new agreements over the recent currency moves.


----------



## bigdog

Source: http://finance.yahoo.com

Traders pushed shares higher Tuesday after minutes from the latest Federal Reserve meeting kept hope alive that the central bank would take more action to stimulate the economy.

The Fed had said after its Sept. 21 meeting that it was concerned that inflation was too low, and suggested it could step up its purchases of government bonds and take other action to encourage lending.

Minutes from the September meeting, released Tuesday afternoon, indicated that Fed Chairman Ben Bernanke and his colleagues were nearing a consensus on what steps to take. Traders are hoping for more concrete news from the Fed following its next meeting in early November.

The dollar fell against other currencies after the Fed minutes came out as traders anticipated another reduction in U.S. interest rates.

*The NYSE DOW closed HIGHER +10.06 points +0.09% on Tuesday October 12*
Sym. Last......... .......Change..........
Dow 11,020.40 +10.06 +0.09% 
Nasdaq 2,417.92 +15.59 +0.65% 
S&P 500 1,169.77 +4.45 +0.38% 
30-yr Bond 3.7940% +0.4800 

NYSE Volume 4,233,061,500 (prior day  3,214,776,250)
Nasdaq Volume 1,984,735,250  (prior day 1,551,447,880)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,661.59 -10.81 -0.19% 
DAX 6,304.57 -4.94 -0.08% 
CAC 40 3,748.86 -19.63 -0.52% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,388.64 -200.24 -2.09% 
Hang Seng 23,121.70 -85.61 -0.37% 
Straits Times 3,149.36 -14.05 -0.44% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks end higher after release of Fed minutes

Indexes recoup losses, led by banks and tech, after Fed minutes hint at stimulus action *

Stephen Bernard, AP Business Writer, On Tuesday October 12, 2010, 4:50 pm

NEW YORK (AP) -- Traders pushed shares higher Tuesday after minutes from the latest Federal Reserve meeting kept hope alive that the central bank would take more action to stimulate the economy.

The Fed had said after its Sept. 21 meeting that it was concerned that inflation was too low, and suggested it could step up its purchases of government bonds and take other action to encourage lending.

Minutes from the September meeting, released Tuesday afternoon, indicated that Fed Chairman Ben Bernanke and his colleagues were nearing a consensus on what steps to take. Traders are hoping for more concrete news from the Fed following its next meeting in early November.

The dollar fell against other currencies after the Fed minutes came out as traders anticipated another reduction in U.S. interest rates.

Stocks turned higher in the afternoon, led by financial stocks. Technology stocks edged slightly higher, led by Citrix Systems, Inc. and Apple Inc.

The tech-heavy Nasdaq composite index rose 15.59, or .6 percent, to 2,417.92, while the Dow Jones industrial average rose 10.06 points, or .09 percent, to 11,020.40.

Google shares rose by $2.55 to $541.39 after the company said it would invest in wind farms off the East coast. Apple hit a new record, approaching $300 for the first time, after Wal-Mart Stores Inc. said its stores will start carrying the popular iPad.

In other corporate news, shares of King Pharmaceuticals Inc. surged after Pfizer Inc. agreed to buy the drugmaker for $3.6 billion in cash. Traders sold shares of CSX Corp. before the company reports results after the market close.

The Standard & Poor's 500 index rose 4.45, or 0.38 percent, to 1,169.77.

Shares of Intel Corp. rose 1.1 percent in after-hours trading after the chipmaker announced that it beat analysts estimates on earnings per share and total revenue in the third quarter.

CSX Corp., one of the largest railroad companies in the United States, also beat analyst estimates on both earnings and sales. Shares rose 2.4 percent in after-hours trading.

Treasury prices traded in a tight range. The yield on the 10-year Treasury note, which moves opposite to its price, was unchanged at 2.39 percent compared with late Friday. Bond markets were closed Monday for the Columbus Day holiday.

Stocks have rallied in recent weeks as traders bet the Fed will enact the bond-buying program as early as its next meeting, which ends Nov. 3. Buying bonds would drive interest rates and yields even lower, which makes stocks a more attractive investment.

Paul Brigandi, senior portfolio manager at Direxion Funds, said a pause in the market is normal because stocks have surged on expectations for Fed actions and upbeat earnings in the coming weeks. The Dow has risen 1.7 percent this month and is up about 10 percent since the beginning of September.

"A lot of the best-case scenarios are priced into the market right now," Brigandi said. Now investors want to pause and see if those scenarios play out, he said.

About four stocks rose for every three that fell on the New York Stock Exchange where volume came to 922 million shares.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow is up 2.9 percent in October, and closed Wednesday at its highest level since May 3. The Dow has been up for 22 of the 31 trading days since the end of August.

Better than expected earnings reports from three corporate bellwethers helped push stocks to their fourth day of gains on Monday, even though the companies themselves didn't get to enjoy the rally.

Intel Corp. and JP Morgan Chase & Co. both fell by more than a percent despite announcing double-digit gains in profits. Their earnings reports, however, contained nuggets of hopeful news on the direction of the broader economy.

JPMorgan's CEO Jamie Dimon predicted credit card defaults are likely to fall next quarter, which helped push shares of American Express up 1.9 percent and MasterCard up 3.9 percent. Intel predicted sales should remain consistent through the end of the year as customers switch from back-to-school shopping to the holiday season. That contributed to gains in Dell, which was up 1.5 percent for the day, and Microsoft, which was up 2 percent. CSX Corp, one of the country's largest railroad companies, saw a big jump in the shipment of cars and trucks.

*The NYSE DOW closed HIGHER +75.68 points +0.69% on Wednesday October 13*
Sym. Last......... .......Change..........
Dow 11,096.08 +75.68 +0.69% 
Nasdaq 2,441.23 +23.31 +0.96% 
S&P 500 1,178.10 +8.33 +0.71% 
30-yr Bond 0.3727%  

NYSE Volume 5,462,499,000  (prior day  4,233,061,500)
Nasdaq Volume 2,318,881,250  (prior day 1,984,735,250)

*Europe*
Symbol.... Last...... .....Change.......
FTSE 100 5,747.35 +85.76 +1.51% 
DAX 6,434.52 +129.95 +2.06% 
CAC 40 3,828.34 +79.48 +2.12% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,403.51 +14.87 +0.16% 
Hang Seng 23,457.69 +335.99 +1.45% 
Straits Times 3,202.16 +52.80 +1.68% 

http://finance.yahoo.com/news/Stocks-rise-on-upbeat-apf-553148630.html?x=0

*Earnings reports push stocks higher, Dow up 76

Surging prices for metals, oil lift industrial shares; JPMorgan, Intel and CSX top forecasts *

David K. Randall and Stephen Bernard, AP Business Writers, On Wednesday October 13, 2010, 5:47 pm 

NEW YORK (AP) -- Better than expected earnings reports from three corporate bellwethers helped push stocks to their fourth day of gains on Monday, even though the companies themselves didn't get to enjoy the rally.

Intel Corp. and JP Morgan Chase & Co. both fell by more than a percent despite announcing double-digit gains in profits. Their earnings reports, however, contained nuggets of hopeful news on the direction of the broader economy.

JPMorgan's CEO Jamie Dimon predicted credit card defaults are likely to fall next quarter, which helped push shares of American Express up 1.9 percent and MasterCard up 3.9 percent. Intel predicted sales should remain consistent through the end of the year as customers switch from back-to-school shopping to the holiday season. That contributed to gains in Dell, which was up 1.5 percent for the day, and Microsoft, which was up 2 percent. CSX Corp, one of the country's largest railroad companies, saw a big jump in the shipment of cars and trucks.

"They were assuring," Andrew Ross, partner at First New York Securities, said of the earnings reports. "But they weren't inspiring, or disrupting."

One reason that the shares in the companies that announced earnings didn't jump was that some traders were expecting even higher gains. "With Intel especially, there were whisper expectations that were much higher than what the analysts had printed, and that helped push the stock up beyond estimates," said Jay Leupp, the president of Grubb & Ellis AGA mutual funds.

Those results allowed the market to continue the upward trajectory it has taken in recent weeks, Ross said. The Dow is up 2.9 percent in October, and closed Wednesday at its highest level since May 3. The Dow has been up for 22 of the 31 trading days since the end of August.

Commodities also jumped sharply. Gold touched another record and oil rose about 2 percent. Freeport-McMoRan Copper & Gold Inc. and Newmont Mining Corp. were among the biggest winners.

"In an improving (global) economy, everyone is going to consume more," said Christian Wagner, CEO of Longview Capital Management. "You need the basic materials."

Wagner said growth should remain strong in emerging markets, helping keep demand high for commodities like aluminum and other metals.

The Dow rose 75.68, or 0.7 percent, to 11,096.08. The broad Standard & Poor's 500 index rose 8.33, also 0.7 percent, to 1,178.10, while the Nasdaq composite index rose 23.31, or 1 percent, to 2,441.23.

Gold settled up $23.80 at $1,370.50 an ounce, the latest in a recent series of record highs. Benchmark crude oil rose $1.34 to $83.01 a barrel on the New York Mercantile Exchange.

Bond prices rose and interest rates rose slightly. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.42 percent from 2.43 percent late Tuesday.

Bond prices have been rising in recent weeks as expectations mount that the Federal Reserve will start buying Treasurys and take other measures to encourage lending. Minutes from the Fed's September meeting released Tuesday afternoon suggest that the central bank is nearing consensus on when and how to take more stimulus measures. Traders are hoping for more specific news after the Fed's meeting in early November.

In an odd twist, stocks have also benefited from the expected move by the Fed because they become more attractive investments over a longer period if bond yields continue to fall.

Freeport-McMoRan rose $3.95, or 4.15 percent, to $99.08, while Newmont jumped $1.18 to $63.18.

CSX shares jumped $2.40, or 4.2 percent, to $59.66.

JPMorgan Chase shares fell 56 cents to $39.84 and Intel slipped 53 cents to $19.24. Both rose earlier in the day.

Volume on the New York Stock Exchange came to 5.1 billion shares, with three stocks up for every one that fell.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks closed little changed Thursday on another disappointing jobs report and growing concern over an investigation of banks' foreclosure practices. But the market made up earlier losses as investors anticipated that the Federal Reserve will take steps soon to strengthen the economy.

Bank and other financial stocks were pummeled as more companies suspended foreclosures on homes while taking steps to confirm that they have fully complied with the law. Attorneys general in all the states are investigating whether lenders used flawed documents to foreclose on hundreds of thousands of loans.

Shares of Bank of America Corp., Wells Fargo & Co., Citigroup Inc. and JPMorgan Chase & Co. fell between 2 percent and 5 percent. By comparison, the Standard & Poor's 500 index fell less than 1 percent.

*The NYSE DOW closed LOWER -1.51 points -0.01% on Thursday October 14*
Sym. Last......... .......Change.......... 
Dow 11,094.57 -1.51 -0.01% 
Nasdaq 2,435.38 -5.85 -0.24% 
S&P 500 1,173.81 -4.29 -0.36% 
30-yr Bond 3.8980% +0.7100 

NYSE Volume 5,962,776,500  (prior day 5,462,499,000)
Nasdaq Volume 2,026,936,500 (prior day  2,318,881,250)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,727.21 -20.14 -0.35% 
DAX 6,455.27 +20.75 +0.32% 
CAC 40 3,819.17 -9.17 -0.24% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,583.51 +180.00 +1.91% 
Hang Seng 23,852.17 +394.48 +1.68% 
Straits Times 3,195.02 -7.14 -0.22% 

http://finance.yahoo.com/news/Marke...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Market rallies for a flat finish

Despite falling early, Dow stays flat on hopes for Fed assistance *

David K. Randall, AP Business Writer, On Thursday October 14, 2010, 4:56 pm

NEW YORK (AP) -- Stocks closed little changed Thursday on another disappointing jobs report and growing concern over an investigation of banks' foreclosure practices. But the market made up earlier losses as investors anticipated that the Federal Reserve will take steps soon to strengthen the economy.

Bank and other financial stocks were pummeled as more companies suspended foreclosures on homes while taking steps to confirm that they have fully complied with the law. Attorneys general in all the states are investigating whether lenders used flawed documents to foreclose on hundreds of thousands of loans.

Shares of Bank of America Corp., Wells Fargo & Co., Citigroup Inc. and JPMorgan Chase & Co. fell between 2 percent and 5 percent. By comparison, the Standard & Poor's 500 index fell less than 1 percent.

The Dow Jones industrial average fell less than 2 points despite falling as much as 70 in the morning. In recent months, any indication that the job market is growing worse had led to large selloffs on Wall Street. However, those same reports have led to a strong consensus that the Fed will step in to prevent further economic decay.

Initial claims for unemployment aid rose by 13,000 to a seasonally adjusted 462,000, the Labor Department said Thursday. It was only the second rise in two months.

"Good news is good news and bad news is good news," said Sarah Hunt, a research analyst at Alpine Mutual Funds. The Fed's next meeting on its monetary policy ends Nov. 3 and it is widely expected the central bank will announce actions to stimulate the economy.

That expectation also helped push the dollar lower and gold higher. The Fed is expected to buy government bonds, which would drive interest rates down from already low levels. That would make gold and other currencies, where interest rates are higher, more attractive than the dollar.

Gold hit another record high. It touched a record of $1,388.10 an ounce before pulling back to $1,373.25. The dollar fell to a 15-year low against the yen and touched its lowest level against the euro since January.

"People are pretty focused on what the Fed is going to do," said Russell Croft, portfolio manager of the Croft Value Fund. Fed chairman Ben Bernanke is scheduled to give a speech Friday that could provide more details about how much money the central bank might pump into the economy.

The Dow ended the day down 1.51, or less than 0.01 percent, at 1,1094.57, while the Standard & Poor's 500 index fell 4.29, or 0.36 percent, to 1,173.81. The Nasdaq composite index fell 5.85, or 0.2 percent, to 2,435.38.

Inflation remains a concern at the Fed. At its meeting last month, the Fed hinted that future bond purchases would help get inflation back to more historically normal levels. The lower interest rates are also aimed at sparking new borrowing and spending by companies and consumers. More spending would drive prices for goods higher.

The Labor Department released its reading on inflation at the wholesale level for September. The government said core Producer Price Index, which is a measure of the cost of goods before they reach consumers excluding volatile energy and food costs, rose in line with analysts' expectations.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.46 percent from 2.42 percent late Wednesday. It has been falling regularly in recent weeks because the Fed will likely ramp up its purchase of the bonds to help the economy.

Bank of America fell 69 cents, or 5.1 percent, to $12.60, while JPMorgan Chase dropped $1.12, or 1.1 percent, to $38.72. Citigroup Inc. fell 19 cents, or 4.4 percent, to $4.06 and Wells Fargo & Co. dropped $1.09, or 4.2 percent, to $24.72.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow fell 31.79, or 0.3 percent, to 11,062.78. It had been up as much as 47 points shortly after the opening bell. It was up 0.5 percent for the week.

The Standard & Poor's 500 index rose 2.38, or 0.2 percent, to 1,176.19. It was up 1 percent for the week.

The Nasdaq jumped 33.39, or 1.4 percent, to 2,468.77. It was up 2.8 percent for the week.

Google's upbeat earnings report sent technology stocks higher Friday, while the rest of the stock market lagged on concerns about banks' foreclosure problems.

The tech-focused Nasdaq composite index rose more than 1 percent with a boost from Google Inc.'s 11 percent gain. While all three major market indexes rose for the week, the Nasdaq's 2.7 percent jump more than doubled the performance of other measures.

Stocks across the board initially rose after Federal Reserve Chairman Ben Bernanke reiterated that the central bank is ready to do more to stimulate the economy. Bernanke's comments were the latest confirmation the central bank is about to step up its purchase of Treasury bonds to spark growth.

*The NYSE DOW closed LOWER -31.79 points -0.29% on Friday October 15*
Sym. Last......... .......Change.......... 
Dow 11,062.78 -31.79 -0.29% 
Nasdaq 2,468.77 +33.39 +1.37% 
S&P 500 1,176.19 +2.38 +0.20% 
30-yr Bond 0.3727% 0.0000 

NYSE Volume 6,608,088,500  (prior day 5,962,776,500)
Nasdaq Volume 2,258,614,250  (prior day 2,026,936,500)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,703.37 -23.84 -0.42% 
DAX 6,492.30 +37.03 +0.57% 
CAC 40 3,827.37 +8.20 +0.21% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,500.25 -83.26 -0.87% 
Hang Seng 23,757.63 -94.54 -0.40% 
Straits Times 3,204.27 +9.25 +0.29% 

http://finance.yahoo.com/news/Stocks-rise-as-Bernanke-apf-799017358.html?x=0

*Dow falls, but Google helps Nasdaq

Stocks erase early morning gains as traders worry about banks, GE results disappoint *

David K. Randall, AP Business Writer, On Friday October 15, 2010, 6:02 pm EDT 

NEW YORK (AP) -- Google's upbeat earnings report sent technology stocks higher Friday, while the rest of the stock market lagged on concerns about banks' foreclosure problems.

The tech-focused Nasdaq composite index rose more than 1 percent with a boost from Google Inc.'s 11 percent gain. While all three major market indexes rose for the week, the Nasdaq's 2.7 percent jump more than doubled the performance of other measures.

Stocks across the board initially rose after Federal Reserve Chairman Ben Bernanke reiterated that the central bank is ready to do more to stimulate the economy. Bernanke's comments were the latest confirmation the central bank is about to step up its purchase of Treasury bonds to spark growth.

But that burst of optimism couldn't fully overcome worries about how banks like Bank of America Corp. and JPMorgan Chase & Co. handled the foreclosure process on mortgages. Both banks, along with General Electric Co., were the primary culprits in sending the Dow Jones industrial average down more than 30 points.

"The market is not going to continue to rally if financials accelerate to the downside," said Maier Tarlow, a managing director at Raven Securities. "It's a major roadblock."

A small drop in the University of Michigan/Reuters consumer sentiment survey countered reports of growth in retail sales and manufacturing activity in New York.

Economists polled by Thomson Reuters expected the preliminary reading on October consumer sentiment to rise slightly. Retail sales climbed in September by more than economists had forecast. Manufacturing activity in New York surged in October and pointed to continued expansion in the coming months.

The Dow fell 31.79, or 0.3 percent, to 11,062.78. It had been up as much as 47 points shortly after the opening bell. It was up 0.5 percent for the week.

The Standard & Poor's 500 index rose 2.38, or 0.2 percent, to 1,176.19. It was up 1 percent for the week.

The Nasdaq jumped 33.39, or 1.4 percent, to 2,468.77. It was up 2.8 percent for the week. Tech stocks got a lift from Google's 32 percent jump in third-quarter earnings. The Internet search company's results were well above analyst's estimates. The company reported big gains in advertising revenue.

The Fed has hinted in recent weeks it would resume a program it ran during the recession to stimulate the economy. Bernanke's comments Friday were the most definitive proclamation yet that the Fed would act. However, he cautioned the central bank is still trying to figure out how big the bond purchase program should be.

Anthony Chan, chief economist at J.P.Morgan Private Wealth Management, said Bernanke successfully walked a fine line Friday between maintaining market enthusiasm over the expected program and avoiding upsetting other Fed board members who might have differing opinions.

The program would likely be aimed at driving interest rates down from already low levels in an effort to spark borrowing and spending by companies and consumers.

More spending, in turn, could lift corporate sales and lead to more jobs. High unemployment remains one of the biggest drags on the economy.

Stocks have been rallying in recent weeks in anticipation the Fed would announce a firm plan at its next meeting, which ends Nov. 3. Lower rates have helped stocks because it drives down yields on Treasury bonds. That makes stocks and other riskier investments like commodities more attractive.

"The Federal Reserve has basically put a floor in the market," said Kevin Mahn, chief investment officer at Hennion & Walsh Asset Management.

Any action by the Fed could have the dual effect of increasing inflation. Bernanke said inflation still remains too low by historical standards. If rates drop and borrowing and spending pick up, prices would rise.

The government said Friday that the consumer price index, a measure of inflation at the retail level, rose just 0.1 percent last month. Prices were flat excluding volatile food and energy costs.

Bond prices were trading in a tight range after Bernanke's speech. The yield on the 10-year Treasury note, which moves opposite its price, rose to 2.58 percent from 2.51 percent late Thursday. Its yield is helped to set interest rates on mortgages and other consumer loans.

Bank of America shares fell 62 cents, or 4.92 percent, to $11.98, while JPMorgan Chase dropped $1.57, or 4.1 percent, to $37.15. GE fell 86 cents, or 5 percent, to $16.30.

2652


----------



## bigdog

Source: http://finance.yahoo.com

Upbeat news for banks and homebuilders pushed the stock market broadly higher Monday, extending its gains for the month.

Better-than-expected results from Citigroup Inc. drove financial stocks up by more than 2 percent, halting a recent slide brought on by questions into how banks have handled foreclosures. The Dow Jones industrial average gained 81 points.

Citigroup said fewer of its customers defaulted on loans, an encouraging sign that borrowers may be returning to financial health. Citi's shares rose 5.6 percent, lifting shares of other banks along with it including Wells Fargo & Co. and JPMorgan Chase & Co. Bank shares had swooned last week as fallout spread from accusations that banks had improperly processed large amounts of foreclosures.

Investors will be turning their attention to corporate earnings this week as dozens of large companies report their results. Broad economic reports have been the main factor driving stock trading in recent months.

*The NYSE DOW closed HIGHER +80.91 points +0.73% on Monday October 18*
Sym. Last......... .......Change.......... 
Dow 11,143.69 +80.91 +0.73% 
Nasdaq 2,480.66 +11.89 +0.48% 
S&P 500 1,184.71 +8.52 +0.72% 
30-yr Bond 0.3727% 0.0000 

NYSE Volume 4,996,277,000  (prior day 6,608,088,500)
Nasdaq Volume 1,746,927,250  (prior day 2,258,614,250)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,742.52 +39.15 +0.69% 
DAX 6,516.63 +24.33 +0.37% 
CAC 40 3,834.50 +7.13 +0.19% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,498.49 -1.76 -0.02% 
Hang Seng 23,469.38 -288.25 -1.21% 
Straits Times 3,183.85 -20.42 -0.64%  

http://finance.yahoo.com/news/Bank-stocks-push-market-apf-757600310.html?x=0

*Bank stocks push market broadly higher; Dow up 81

Stocks climb after Citigroup's 3rd-quarter results give financial stocks a lift *

David K. Randall, AP Business Writer, On Monday October 18, 2010, 4:24 pm 

NEW YORK (AP) -- Upbeat news for banks and homebuilders pushed the stock market broadly higher Monday, extending its gains for the month.

Better-than-expected results from Citigroup Inc. drove financial stocks up by more than 2 percent, halting a recent slide brought on by questions into how banks have handled foreclosures. The Dow Jones industrial average gained 81 points.

Citigroup said fewer of its customers defaulted on loans, an encouraging sign that borrowers may be returning to financial health. Citi's shares rose 5.6 percent, lifting shares of other banks along with it including Wells Fargo & Co. and JPMorgan Chase & Co. Bank shares had swooned last week as fallout spread from accusations that banks had improperly processed large amounts of foreclosures.

Investors will be turning their attention to corporate earnings this week as dozens of large companies report their results. Broad economic reports have been the main factor driving stock trading in recent months.

"Earnings will be at the forefront," said Mike Schenk, vice president of economics and statistics at the Credit Union National Association. "Underlying that will be any information we get out of the consumer sector."

Schenk said that the health of the consumer will likely be more apparent in earnings outlooks from consumer goods companies and Thursday's weekly unemployment report.

Apple Inc.'s results will be seen as an indicator of how much appetite consumers have for new gadgets. The iPod and iPad have been popular this year even as shoppers cut back spending elsewhere.

The National Association of Home Builders reported that its housing market index, which measures builder confidence in the sales of new, single-family homes, rose by three points in October. It was the first time that the measure had risen since June, which came shortly after the end of a federal tax rebate for first-time homebuyers.

The stock market is up more than 3 percent this month, which is leading some investors to conclude that traders are buying on any sign of good news. "It seems like these days that every little bit of good information, no matter how materially irrelevant, is something that the market latches on to," said Peter Zunger, the manager of the Touchstone Mid-Cap Value fund.

The Dow Jones industrial average rose 80.91, or 0.73 percent, to 11,143.69.

The Standard & Poor's 500 index rose 8.52, or 0.72 percent, to 1,184.71, while the Nasdaq composite index rose 11.89, or 0.48 percent, to 2,480.66.

In other earnings reports, Halliburton Co.'s profit rose. But its revenue fell short of expectations, sending its shares lower. The oil services company has been hampered by a ban on drilling in the Gulf of Mexico.

IBM Corp. announces its results after the closing bell. IBM's earnings report will be studied for clues about whether companies are spending more to upgrade technology and computers. Signs that companies are ramping up technology spending would be a good indication that they expect business to pick up.

Citigroup rose 22 cents, or 5.6 percent, to $4.17. Wells Fargo rose $1.29, or 5.4 percent, to $24.87. JPMorgan rose $1.05, or 2.8 percent, to $38.20.

Apple rose $3.26 cents to $318.00. Apple shares surged above the $300 level for the first time last week and are up 12 percent for the month.

Halliburton shares fell $1.73, or 4.8 percent, to $34.09, while IBM rose $1.77 cents to $142.83.

Bond prices rose slightly. The yield on the 10-year Treasury note, which moves opposite its price, fell to 2.50 percent from 2.57 percent late Friday. Its yield is often used as a benchmark to set interest rates on mortgages and other loans.


----------



## bigdog

Source: http://finance.yahoo.com

A stronger dollar and a surprise interest rate hike in China that may slow that country's economy helped push stocks sharply lower Tuesday.

The Dow Jones industrial average fell below 11,000 for the first time in a little more than a week, reversing a streak that had pushed the index up nearly 7 percent for the year. It was the largest single-day drop in the market since early August.

Bank of America Corp.'s 4.4 percent drop was the largest fall in the Dow and came amid reports that a group of investors including BlackRock Inc. and Pacific Investment Management Co. are reportedly attempting to force the bank to repurchase mortgages put out by Countrywide Financial Corp., which Bank of America bought in 2008. BlackRock and Pimco declined to comment.

The broader stock market fell following an announcement that China, whose rapid growth has helped pull the global economy along, raised a key interest rate to fight inflation. That pushed the shares of U.S. companies down, many of which consider China an important market

*The NYSE DOW closed LOWER -165.07 points -1.48% on Tuesday October 19*
Sym. Last......... .......Change.......... 
Dow 10,978.62 -165.07 -1.48% 
Nasdaq 2,436.95 -43.71 -1.76% 
S&P 500 1,165.90 -18.81 -1.59% 
30-yr Bond 0.3727% 0.0000 

NYSE Volume 6,342,726,000  (prior day 4,996,277,000)
Nasdaq Volume 2,268,959,250  (prior day 1,746,927,250)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,703.89 -38.63 -0.67% 
DAX 6,490.69 -25.94 -0.40% 
CAC 40 3,807.17 -27.33 -0.71% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,539.45 +40.96 +0.43% 
Hang Seng 23,763.73 +294.35 +1.25% 
Straits Times 3,192.29 +11.02 +0.35%  

http://finance.yahoo.com/news/Dow-d...4.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Dow drops below 11,000 as dollar rebounds

Dow falls after China raises key interest rate; energy and materials sectors fall *

David K. Randall, AP Business Writer, On Tuesday October 19, 2010, 5:56 pm

NEW YORK (AP) -- A stronger dollar and a surprise interest rate hike in China that may slow that country's economy helped push stocks sharply lower Tuesday.

The Dow Jones industrial average fell below 11,000 for the first time in a little more than a week, reversing a streak that had pushed the index up nearly 7 percent for the year. It was the largest single-day drop in the market since early August.

Bank of America Corp.'s 4.4 percent drop was the largest fall in the Dow and came amid reports that a group of investors including BlackRock Inc. and Pacific Investment Management Co. are reportedly attempting to force the bank to repurchase mortgages put out by Countrywide Financial Corp., which Bank of America bought in 2008. BlackRock and Pimco declined to comment.

The broader stock market fell following an announcement that China, whose rapid growth has helped pull the global economy along, raised a key interest rate to fight inflation. That pushed the shares of U.S. companies down, many of which consider China an important market.

The Dow Jones industrial average fell 165.07, or 1.5 percent, to 10,978.62. Standard & Poor's 500 index fell 18.81, or 1.6 percent, to 1,165.90, while the Nasdaq composite index fell 43.71, or 1.8 percent, to 2,436.95.

After the market closed, Yahoo! Inc. announced that its total revenue for the third quarter came to $1.6 billion, up less than 2 percent from the $1.58 billion it earned at the same time last year. After accounting for a one-time gain from the sale of its help-wanted site, the company earned 16 cents per share, which was one cent more than analysts were expecting. Shares of Yahoo were up 1 percent in after-market trading.

Earlier in the day, disappointing news from Apple Inc. and IBM Corp. helped send the technology-heavy Nasdaq down about 2 percent. Both companies beat earnings forecasts when they reported results late Monday, but each delivered news that investors didn't like. Apple Inc. didn't sell as many iPads as analysts had hoped and a measure of profitability was lower than expected. IBM Corp.'s outsourcing business didn't do as well analysts predicted.

Shares of Apple fell 2.6 percent, to $309.49. Apple's shares have gained 9.1 percent this quarter.

"On average, the earnings reports have beaten expectations, but now investors are asking, 'What's next?'," said Jonathan Satovsky, the head of Satovsky Asset Management. "Even Apple reduced guidance for the fourth quarter of the year."

The dollar rose 1.7 percent against a basket of currencies, while gold fell 2 percent.

The strengthening dollar led to a broad selloff of commodities. That dragged down stocks of companies in the energy and materials sectors of the Standard and Poor's 500, which were both down more than 2 percent.

"The dollar rebounded pretty significantly today and that's one of the primary drivers of the market," said John Pandtle, who is a co-manager of the Eagle Large Cap Value fund.

For weeks, traders have been anticipating that the Federal Reserve will expand a program to buy bonds in hopes of encouraging spending. That has led many investors to buy stocks despite questions about the strength of the economic recovery.

"We're seeing a mixed bag from earnings reports and housing numbers," said Doug Roberts, the chief investment strategist for Channel Capital Research, citing a recent report that showed a slight increase in homebuilder confidence. "If the Fed wasn't sitting there following through with liquidity, then we'd be in a very different situation."

Shares of Bank of America Corp. fell 54 cents, or 4.4 percent, after the company reported a loss because of a one-time charge tied to credit and debit card reform legislation passed this year. Goldman Sachs Group, Inc., which also reported results before the bell, earned $1.74 billion, or $2.98 a share, much higher than the $2.32 per share analysts predicted. Shares rose $3.02, or 1.9 percent.

Some traders may be taking earnings annoucements as an opportunity to sell and record gains. "We're seeing some profit-taking today after the tremendous September and first week of October that we've seen in the market," said Eric Marshall, the director of research at Hodges Capital.

Coca Cola Co., which reported earnings Tuesday, was one of only two stocks in the Dow with gains. The other was chipmaker Intel Corp.

Bond prices rose. The yield on the benchmark 10-year Treasury note fell to 2.48. It traded late Monday at 2.51 percent.

Consolidated trading volume on the New York Stock Exchange came to 5.5 billion shares. Five shares fell for every one that rose on the NYSE.


----------



## bigdog

Source: http://finance.yahoo.com

Market rebounds as dollar falls; Dow up 129

Strong results from Delta and Boeing help push stock market higher

A decline in the dollar helped fuel a market rebound on Wednesday that nearly erased a big-sell off the day before brought on by fears of a slowdown in China.

Stocks had fallen more than 1 percent Tuesday after a surprise interest rate increase in China, the first time the country had raised rates in nearly three years. That made some traders concerned that slower growth in China might put a drag on the global economy.

Some of those concerns were erased after the Shanghai Composite Index, China's main stock market benchmark, rose slightly in overnight trading. Those gains "helped create a more constructive tone for the trade this morning," said Nick Kalivas, an equity analyst for MF Global.

*The NYSE DOW closed HIGHER +129.35  points +1.18% on Wednesday October 20*
Sym. Last......... .......Change.......... 
Dow 11,107.97 +129.35 +1.18% 
Nasdaq 2,457.39 +20.44 +0.84% 
S&P 500 1,178.17 +12.27 +1.05% 
30-yr Bond 0.3727% 0.0000 

NYSE Volume 5,598,244,000  (prior day 6,342,726,000)
Nasdaq Volume 2,061,150,380  (prior day 2,268,959,250)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,728.93 +25.04 +0.44% 
DAX 6,524.55 +33.86 +0.52% 
CAC 40 3,828.15 +20.98 +0.55% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,381.60 -157.85 -1.65% 
Hang Seng 23,556.50 -207.23 -0.87% 
Straits Times 3,179.15 -13.14 -0.41%  

http://finance.yahoo.com/news/Market-rebounds-as-dollar-apf-2502719606.html?x=0

*Market rebounds as dollar falls; Dow up 129

Strong results from Delta and Boeing help push stock market higher *

David K. Randall, AP Business Writer, On Wednesday October 20, 2010, 5:26 pm 

NEW YORK (AP) -- A decline in the dollar helped fuel a market rebound on Wednesday that nearly erased a big-sell off the day before brought on by fears of a slowdown in China.

Stocks had fallen more than 1 percent Tuesday after a surprise interest rate increase in China, the first time the country had raised rates in nearly three years. That made some traders concerned that slower growth in China might put a drag on the global economy.

Some of those concerns were erased after the Shanghai Composite Index, China's main stock market benchmark, rose slightly in overnight trading. Those gains "helped create a more constructive tone for the trade this morning," said Nick Kalivas, an equity analyst for MF Global.

The fact that China raised interest without leading to a drop in stock prices "was a sign of strength," said Sandy Mehta, the chief investment manager for Value Investment Principals, based in Hong Kong. "Raising rates show that they have confidence in their economy and it continues to grow strongly."

After the bell, West Coast technology companies Netflix Inc. and eBay Inc. reported stronger than expected revenues. Shares of both companies were up more than 6 percent in after-market trading. The strong results could help shift sentiment in favor of technology companies, which took a beating Tuesday after earnings from Apple Inc. and IBM Corp. didn't live up to investors' high expectations.

Every segment within the Standard and Poor index rose, led by a 1.9 percent jump in S&P's index of materials companies, a group that includes aluminum maker Alcoa Inc. and International Paper Co.

The dollar fell 1.2 percent against a broad basket of currencies as demand for safe-haven investments eased.

The Dow Jones industrial average rose 129.35, or 1.2 percent, to 11,107.97. The broader Standard and Poor's 500 index was up 12.27, or 1.1 percent, to 1,178.17, and the technology-focused Nasdaq composite index was up 20.44, or 0.8 percent, to 2,457.39.

A batch of positive corporate earnings reports from companies like Delta Air Lines Inc., American Airlines parent company AMR Corp. and Boeing Co. helped send the stock market broadly higher.

Delta rose 10.8 percent after the company announced a profit driven by a 19 percent jump in passenger revenue. That helped push shares of competitors like Jet Blue and Southwest Airlines up more than 4 percent.

Boeing rose 2.3 percent after the aircraft manufacturer raised its profit forecast for the year and said that it expects to sell more commercial airplanes. Boeing was the top performer among the 30 companies in the Dow, followed closely by Caterpillar Inc. Bank of America, General Electric Co. and Hewlett Packard Co. were the only companies within the Dow index to fall.

Financial companies within the Standard and Poor's index rose 1.1 percent as some traders saw the stocks as a bargain amid questions over how banks have been handling foreclosures. "People are taking advantage of an opportunity to buy on dips," said Bruce Simon, the chief investment officer at Ballentine Partners.

Investors continue to question what the impact will be over reports that the New York Federal Reserve will join institutional bond holders in an effort to force Bank of America Corp. to repurchase billions of dollars in mortgage bonds issued by Countrywide Financial, which BofA purchased in 2008. The North Carolina bank was down 5 cents, or 0.4 percent, to $11.75.

Before the market opened, San Francisco bank Wells Fargo & Co. announced that it beat profit forecasts but missed slightly on revenues, while Morgan Stanley reported a loss of 7 cents per share on special charges. Shares of Morgan Stanley fell 1 cent to $25.38.

Shares of Wells Fargo were up $1.05, or 4.3 percent, at $25.60. Earlier in the day, the stock had traded as low as $23.50.

Late in the afternoon, the Federal Reserve announced that 7 of the bank's 12 regions reported moderate improvements in business activity. Economic growth was slowing in the Dallas and Atlanta regions.

Bond prices traded in a tight range. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.48 percent from 2.46 percent late Tuesday.

Shares of Delta rose $1.27 to $12.97, while shares of Boeing rose $2.31 to $71.36. Jet Blue was up 44 cents to $6.95, and Southwest rose 47 cents to $13.16.

Trading on the floor of the New York Stock Exchange came to 1.1 billion shares. Three stocks rose for every one that fell.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks finished with modest gains Thursday after pulling back from a rally that pushed share prices near their highest levels of the year.

All three major stock indexes finished higher after an up-and-down trading session. Stocks initially jumped as much as 1 percent following another round of earnings announcements, then traded briefly in the red in the afternoon before a final push higher.

After the market closed, Internet retailer Amazon.com Inc. reported that earned 51 cents per share in the third quarter, which was 3 cents higher than analysts were expecting. The company's operating expenses were also 40 percent higher than this time last year, which helped push its shares down about 4 percent in after-market trading.

The Dow Jones industrial average rose 38.60, or 0.4 percent, to close at 11,146.57. It briefly eclipsed its highest closing level of 2010, which it reached on April 26.

*The NYSE DOW closed HIGHER +38.60 points +0.35% on Thursday October 21*
Sym. Last......... .......Change.......... 
Dow 11,146.57 +38.60 +0.35% 
Nasdaq 2,459.67 +2.28 +0.09% 
S&P 500 1,180.26 +2.09 +0.18% 
30-yr Bond 0.3727% -3.5153  

NYSE Volume 5,380,411,500 (prior day 5,598,244,000)
Nasdaq Volume 2,179,753,250 (prior day 2,061,150,380)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,757.86 +28.93 +0.50% 
DAX 6,611.01 +86.46 +1.33% 
CAC 40 3,878.27 +50.12 +1.31% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,376.48 -5.12 -0.05%  
Hang Seng 23,649.48 +92.98 +0.39%  
Straits Times 3,163.53 -15.62 -0.49% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks up modestly after early gains

Stocks pull back after Dow Jones industrial average flirts with highest level of year *

Stephen Bernard and David K. Randall, AP Business Writers, On Thursday October 21, 2010, 5:43 pm 

NEW YORK (AP) -- Stocks finished with modest gains Thursday after pulling back from a rally that pushed share prices near their highest levels of the year.

All three major stock indexes finished higher after an up-and-down trading session. Stocks initially jumped as much as 1 percent following another round of earnings announcements, then traded briefly in the red in the afternoon before a final push higher.

After the market closed, Internet retailer Amazon.com Inc. reported that earned 51 cents per share in the third quarter, which was 3 cents higher than analysts were expecting. The company's operating expenses were also 40 percent higher than this time last year, which helped push its shares down about 4 percent in after-market trading.

The Dow Jones industrial average rose 38.60, or 0.4 percent, to close at 11,146.57. It briefly eclipsed its highest closing level of 2010, which it reached on April 26.

The Standard & Poor's 500 index rose 2.09, or 0.2 percent, to 1,180.26, while the Nasdaq rose 2.28, or 0.1 percent, to 2,459.67.

The Dow had been up as much as 105 points after three members of the index -- Caterpillar Inc., Travelers Cos. and McDonald's Corp. -- all beat earnings expectations.

Traders were also looking at data that did not provide a clear outlook for the economy. First-time claims for unemployment benefits fell last week, but the decline was offset by a sharp upward revision to the previous week's claims. Unemployment claims are stuck at levels that indicate companies are not still not hiring many workers.

The Chinese government, meanwhile, said that country's economic growth slowed to 9.6 percent in the third quarter. China has been trying to slow its rapid growth to a more sustainable level that would keep inflation from getting out of control. However a slowdown in China could also effect on exports and sales to that country.

"It was a mixed day for earnings reports and economic data, and the stock market is reflecting that," said Brad Sorensen, a director of sector research at Charles Schwab.

Bank of America Corp. again hurt the Dow as it continues to be dogged by worries about whether investors will force the bank to buy back mortgages it originated. Shares of the North Carolina bank were down 39 cents, or 3.3 percent. The company has fallen 13 percent this month.

Stocks of other big national banks were also mostly lower on the day.

Home Depot Inc., with a gain of 3.5 percent, was the top-performing stock in the Dow.

Caterpillar hit a high for the year early in the morning before pulling back. United Parcel Service Inc.'s profit jumped and the shipping company raised its outlook. But it too retreated after coming within $1 of hitting a new high for the year.

"We've had some better-than-expected earnings for the last few days, but I think what's happening today is some natural volatitly as we get near the highs for the year," said Thomas Villalta, a fund manager at Jones Villalta funds. Each major market index is up more than 3 percent for the month.

JetBlue Airways Corp. also reported strong earnings, only to see its stock approach its 2010 high and then fall. Shares of the company fell 33 cents on the day, or 4.7 percent, to finish at $6.62. Competitor Delta Air Lines Inc. saw its shares rise for the second straight day, finishing up 56 cents, or 4.3 percent, to $13.53 a share. The company's stock is up nearly 20 percent for the week.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.54 percent from 2.48 percent late Wednesday.

The dollar rose 0.3 percent against a broad basket of currencies.

Trading volume on the floor of the New York Stock Exchange came to 1.1 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average rose for a third straight week, capping a two-month period in which the index has ended 7 out of 8 weeks higher than where it started.

Stocks ended on a mixed note Friday at the close of a busy week of earnings news. The Dow finished slightly down, while the broader Standard and Poor's 500 index and the technology-focused Nasdaq both ended with gains.

The market appeared to be in a holding pattern as investors turned their attention to a meeting of finance ministers and central bank governors in Korea. The group is meeting as tensions grow over a brewing currency battle that could affect global trade.

*The NYSE DOW closed LOWER -14.01 points -0.13% on Friday October 22*
Sym. Last......... .......Change.......... 
Dow 11,132.56 -14.01 -0.13% 
Nasdaq 2,479.39 +19.72 +0.80% 
S&P 500 1,183.08 +2.82 +0.24% 
30-yr Bond 0.3727% 0.0000 

NYSE Volume 3,667,067,250 (prior day 5,380,411,500)
Nasdaq Volume 1,684,746,625 (prior day  2,179,753,250) 

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,741.37 -16.49 -0.29% 
DAX 6,605.84 -5.17 -0.08% 
CAC 40 3,868.54 -9.73 -0.25%  

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,426.71 +50.23 +0.54% 
Hang Seng 23,517.54 -131.94 -0.56%  
Straits Times 3,173.57 +10.04 +0.32% 

http://finance.yahoo.com/news/Stocks-end-higher-for-3rd-apf-2135127386.html?x=0

*Stocks end higher for 3rd straight week

Stocks mixed on Friday as traders eye G-20 conference *

Stephen Bernard and David K. Randall, AP Business Writers, On Friday October 22, 2010, 5:38 pm 

NEW YORK (AP) -- The Dow Jones industrial average rose for a third straight week, capping a two-month period in which the index has ended 7 out of 8 weeks higher than where it started.

Stocks ended on a mixed note Friday at the close of a busy week of earnings news. The Dow finished slightly down, while the broader Standard and Poor's 500 index and the technology-focused Nasdaq both ended with gains.

The market appeared to be in a holding pattern as investors turned their attention to a meeting of finance ministers and central bank governors in Korea. The group is meeting as tensions grow over a brewing currency battle that could affect global trade.

"Everyone is trying to get out of the economic doldrums by exporting," said Bruce McCain, chief investment strategist at Key Private Bank. "And everyone is trying to do it at one time."

There are worries that some countries, like China, are holding their currencies at artificially low levels. That gives them an advantage in exporting goods as the global economy slowly recovers from a deep recession.

The Dow Jones industrial average fell 14.01, or 0.1 percent, to 11,132.56. The Standard and Poor's 500 index rose 2.82, or 0.2 percent, to 1,183.08, and the Nasdaq composite index rose 19.72, or 0.8 percent, to 2,479.39.

Each index finished the week with gains as a parade of large companies reported that they are making more money than analysts were expecting. A third of the companies that make up the Standard and Poor's 500 index have now reported earnings, and approximately 75 percent have reported higher earnings per share than analyst forecast, according to Howard Silverblatt, the senior index analyst at Standard and Poor's.

Amazon.com Inc. and oil services company Schlumberger Ltd. were among Friday's better performers following strong earnings reports. Online retailer Amazon shook off some early morning concerns about narrowing margins to finish $4.16, or 2.5 percent, higher at $169.13. Schlumberger got a big lift from increased land-based drilling activities in the U.S. and Canada.

Shares of Hewlett-Packard rose 48 cents, or 1.1 percent, which made that company the top performing stock among the components of the Dow index. American Express, with its 3.1 percent drop, was the Dow's worst performer.

Bank of America Corp., whose shares fell 4.5 percent, was the Dow's laggard for the week. The North Carolina bank has lost ground since a group of institutional investors signaled that it may attempt to force the company to repurchase mortgage loans issued by one of its subsidiaries. Coca Cola Co., meanwhile, gained 2.7 percent to end the week as the best performing component of the Dow for the week.

The dollar rose slightly against other major currencies, but still remains near a 15-year low against Japan's yen. It's also near its lowest level of the year against the euro.

The yield on the 10-year Treasury note rose slightly to 2.57 percent from 2,54 percent late Thursday. Bond yields move in the opposite direction of prices.

Trading volume on the floor of the New York Stock Exchange was very light at 772 million shares.

3128


----------



## bigdog

Source: http://finance.yahoo.com

Stocks rose moderately Monday on growing expectations that the Federal Reserve will take steps to boost the economy.

A falling dollar that contributed to a jump in commodity prices also helped push the Dow Jones industrial average up 31 points to its highest close since late April.

Traders are widely expecting the Fed to expand its program to buy bonds as a way to stimulate the economy. That would push bond yields down and, in turn, would make stocks a more attractive investment.

*The NYSE DOW closed HIGHER +31.49 points +0.28% on Monday October 25*
Sym. Last......... .......Change.......... 
Dow 11,164.05 +31.49 +0.28% 
Nasdaq 2,490.85 +11.46 +0.46% 
S&P 500 1,185.62 +2.54 +0.21% 
30-yr Bond 0.3727% 0.0000 

NYSE Volume 4,834,508,000 (prior day 3,667,067,250)
Nasdaq Volume 1,778,337,500 (prior day 1,684,746,625)

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,751.98 +10.61 +0.18% 
DAX 6,639.21 +33.37 +0.51% 
CAC 40 3,870.00 +1.46 +0.04% 
*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,401.16 -25.55 -0.27% 
Hang Seng 23,627.91 +110.37 +0.47% 
Straits Times 3,182.08 +8.51 +0.27%  

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks extend gains as dollar falls

Stocks rise as dollar falls, commodities prices rise; Dow moves toward high for the year *

Stephen Bernard and David K. Randall, AP Business Writers, On Monday October 25, 2010, 5:54 pm 

NEW YORK (AP) -- Stocks rose moderately Monday on growing expectations that the Federal Reserve will take steps to boost the economy.

A falling dollar that contributed to a jump in commodity prices also helped push the Dow Jones industrial average up 31 points to its highest close since late April.

Traders are widely expecting the Fed to expand its program to buy bonds as a way to stimulate the economy. That would push bond yields down and, in turn, would make stocks a more attractive investment.

Bank of America Corp. and JPMorgan Chase & Co. each fell more than 1.5 percent, as the banks again faced questions into how they and other finanancial companies have handled foreclosures. The financial industry joined utilities as the only two segments of the Standard and Poor's 500 index to lose ground.

For the second time in the past week, the Dow eclipsed its highest closing level this year only to quickly pullback. It closed at 11,205.03 on April 26. The average rose 31.49, or 0.3 percent, to 11,164.05. The broader Standard and Poor's 500 index rose 2.54, or 0.2 percent, to 1,185.62, while the technology-focused Nasdaq composite index rose 11.46, or 0.5 percent, to 2,490.85.

The National Association of Realtors said sales of previously occupied homes rose 10 percent last month. However, sales remain extremely weak compared with where they were just a year ago, which is likely keeping enthusiasm over the news in check.

Shaun Ahmad, president of capital markets at mortgage investment firm RoundPoint Financial Group, said that while the sales jump was a positive sign, expectations are very low right now and "there's a significant housing overhang." Home sales won't climb back to more historical levels until a large inventory of homes can be sold, Ahmad said.

The dollar fell against other major currencies. It hit a fresh 15-year low against Japan's yen. The euro again climbed above $1.40 early in the day before sliding back slightly below that level in late trading. Gold rose 1.1 percent.

Traders expect the Fed to buy bonds to stimulate the economy. While that is expected to make stocks more appealing, it would also put more money into circulation, and investors believe, send inflation rising again. In Monday's auction of the Treasury's inflation-protection securities, commonly known as TIPS, demand was so high for the bonds that their yields turned negative -- the first time that has happened at an auction. The principal of TIPS increases with inflation and falls with deflation, so a modest gain in the inflation rate would lead to a positive return on the bonds.

"Investors now have a high expectation of inflation and are taking the double-dip recession concerns off of the table," said Jack Albin, the chief investment officer at Harris Bank.

Other economic reports could further sway trading throughout the week, culminating with the government's first estimate on third-quarter gross domestic product. The report, the broadest measure of the nation's economy, is due out Friday.

Treasury bond prices were flat. The yield on a 10-year Treasury note was unchanged at 2.56 from Friday's close.

Three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to 4.2 billion shares, up from Friday's extremely light 3.2 billion


----------



## bigdog

Source: http://finance.yahoo.com

Mixed earnings reports and a stronger dollar helped stocks finish about where they started Tuesday.

The Dow Jones industrial average wavered within a 100-point range as traders attempted to parse the direction of the economy amid a drop in home prices, a batch of weak earnings reports and a slight rise in consumer confidence.

Stocks started the day with losses after disappointing results from Texas Instruments Inc., U.S Steel Corp., Bristol-Myers Squibb Co. Du Pont, one of the 30 companies that make up the Dow average, fell 1 percent even though it beat estimates. Investors have been having high expectations this season with three out of every four companies besting analyst estimates.

*The NYSE DOW closed HIGHER +5.41 points +0.05% on Tuesday October 26*
Sym. Last......... .......Change.......... 
Dow 11,169.46 +5.41 +0.05% 
Nasdaq 2,497.29 +6.44 +0.26% 
S&P 500 1,185.64 +0.02 +0.00% 
30-yr Bond 3.9940% +0.0870  

NYSE Volume 4,714,503,500  (prior day 4,834,508,000)
Nasdaq Volume 1,940,514,875  (prior day  1,778,337,500)

*Europe*
Symbol.... Last...... .....Change.......  
FTSE 100 5,707.30 -44.68 -0.78% 
DAX 6,613.80 -25.41 -0.38% 
CAC 40 3,852.66 -17.34 -0.45%

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,377.38 -23.78 -0.25% 
Hang Seng 23,601.24 -26.67 -0.11% 
Straits Times 3,162.51 -19.57 -0.62%  

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks eke out gains on mixed earnings

Stocks rise slightly on mixed news from earnings reports and falling home prices * 

Stephen Bernard, AP Business Writer, On Tuesday October 26, 2010, 5:45 pm

NEW YORK (AP) -- Mixed earnings reports and a stronger dollar helped stocks finish about where they started Tuesday.

The Dow Jones industrial average wavered within a 100-point range as traders attempted to parse the direction of the economy amid a drop in home prices, a batch of weak earnings reports and a slight rise in consumer confidence.

Stocks started the day with losses after disappointing results from Texas Instruments Inc., U.S Steel Corp., Bristol-Myers Squibb Co. Du Pont, one of the 30 companies that make up the Dow average, fell 1 percent even though it beat estimates. Investors have been having high expectations this season with three out of every four companies besting analyst estimates.

The Dow Jones industrial average rose 5.41 points, or 0.1 percent, to 11,169.46. The Standard & Poor's 500 index rose 0.02 to 1,185.64, while the technology-focused Nasdaq composite index rose 6.44, or 0.3 percent, to 2,497.29.

The 30 stocks in the Dow were split down the middle, with half falling and half rising. Microsoft Corp. rose 2.8 percent to lead the index, while Procter & Gamble fell 1.1 percent as the measure's laggard.

A gain in consumer confidence this month helped stocks pare their losses and then edge higher in afternoon trading.

"The consumer confidence numbers were encouraging," said Bernie McSherry, vice president of strategic initiatives at Cuttone and Co. It's a sign shoppers "may be reaching into their wallets heading into the holiday shopping season."

Ford Motor Co. and Coach Inc. were among the few bright spots in the big batch of earnings reports released Tuesday.

Shares of Netflix Inc. rose $10.78, or 6.4 percent, to $177.62 amid rumors that the company may be a target of an acquisition by Apple Inc.

Traders were moving out of riskier assets as the dollar strengthened. A stronger dollar makes stocks and commodities more expensive because they are priced in dollars. The dollar rose against Japan's yen and the euro Tuesday.

Home prices slid in August, renewing concerns about the health of the housing market. Fifteen of the 20 cities measured in the Standard & Poor's/Case-Shiller home price index saw price declines.

Bond prices fell slightly. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.64 percent from 2.56 percent late Monday.

Consoliated trading volume on the New York Stock Exchange came to 4.2 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow fell 43.18, or 0.4 percent, to 11,126.28, despite trading as much as 150 points lower.

Stock prices fell Wednesday as concerns grew over whether the Federal Reserve's plans to buy Treasury bonds might be smaller and slower than anticipated.

Stocks had been rising in recent weeks due to a number of strong earnings reports and mounting expectations that the Fed would embark on another round of bond-buying to stimulate the economy.

Traders have been anticipating the Fed would buy between $500 billion and $1 trillion in Treasurys to drive interest rates lower and encourage lending and spending. A report in The Wall Street Journal said the Fed's bond purchases might amount to a few hundred billion dollars over several months, which would fall short of those predictions.

*The NYSE DOW closed LOWER -43.18 points -0.39% on Wednesday October 27*
Sym. Last......... .......Change.......... 
Dow 11,126.28 -43.18 -0.39% 
Nasdaq 2,503.26 +5.97 +0.24% 
S&P 500 1,182.45 -3.19 -0.27% 
30-yr Bond 4.0410% +0.0470 

NYSE Volume 4,904,104,500  (prior day 4,714,503,500)
Nasdaq Volume 2,034,776,120  (prior day 1,940,514,875) 

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,646.02 -61.28 -1.07% 
DAX 6,568.00 -45.80 -0.69% 
CAC 40 3,815.77 -36.89 -0.96% 

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,387.03 +9.65 +0.10%  
Hang Seng 23,164.58 -436.66 -1.85% 
Straits Times 3,124.38 -38.13 -1.21% 

http://finance.yahoo.com/news/Stocks-fall-amid-questions-apf-3514862202.html?x=0

*Stocks fall amid questions about Fed plan

Stocks retreat amid reports the Fed's bond-buying program might be smaller than anticipated *

Stephen Bernard, AP Business Writer, On Wednesday October 27, 2010, 5:15 pm 

NEW YORK (AP) -- Stock prices fell Wednesday as concerns grew over whether the Federal Reserve's plans to buy Treasury bonds might be smaller and slower than anticipated.

Stocks had been rising in recent weeks due to a number of strong earnings reports and mounting expectations that the Fed would embark on another round of bond-buying to stimulate the economy.

Traders have been anticipating the Fed would buy between $500 billion and $1 trillion in Treasurys to drive interest rates lower and encourage lending and spending. A report in The Wall Street Journal said the Fed's bond purchases might amount to a few hundred billion dollars over several months, which would fall short of those predictions.

"The higher the number, the better for the market," said Michael Gault, a senior portfolio strategist at Weiser Capital Management. "Every measured step from that, the market will pull back."

The Fed meets next week and details of any stimulus are expected to be announced when the meeting wraps up Nov. 3.

The Dow fell 43.18, or 0.4 percent, to 11,126.28, despite trading as much as 150 points lower.

The Standard & Poor's 500 index fell 3.19, or 0.3 percent, to 1,182.45. The technology-focused Nasdaq composite index was the only broad market index to rise, gaining 5.97, or 0.2 percent, to 2,503.26.

A report on durable goods orders gave a mixed picture of the health of the economy. The Commerce Department said durable goods rose faster than economists had forecast in September. However, excluding the volatile transportation sector, orders fell. Economists polled by Thomson Reuters had forecast a rise in orders excluding transportation.

The report indicates the pace of growth in manufacturing is slowing. Manufacturing had been one of the brightest spots in the economy during the first half of the year.

Sales of new homes rose slightly faster than economists had expected last month, but still remain near their lowest levels on record.

Joe Murin, chairman of the Collingwood Group, said lower interest rates on mortgages that could occur if the Fed buys more bonds won't spark more demand for the loans and help lift sales. Only renewed consumer confidence will do the trick, Murin said.

"Interest rates are (already) at an all-time low" and there's no demand, Murin added. Driving rates even lower would also make investors who buy mortgages from banks even less interested in them because returns would be so small, he said.

Earnings reports announced Wednesday were mixed. Procter & Gamble said its profit slipped during the most recent quarter, but still beat forecasts. Its shares rose 22 cents to $63.08.

Sprint Nextel reported a wider loss. It shares fell 47 cents, or 9.9 percent, to $4.30.

Financial companies and technology companies were the only groups amid the Standard and Poor's 500 index to see their shares end the day with gains. Bank of America Corp. gained 24 cents, or 2.1 percent, to finish as the top stock among the 30 companies in the Dow. Shares in the company have fallen 11.9 percent this month.

Merck & Co. Inc. fell 61 cents, or 1.6 percent, as the index's laggard.

Bond prices fell slightly. The yield on the 10-year Treasury is 2.72 percent, up from 2.64 percent in late Tuesday's trading. Bond prices and yields move in opposite directions.

Two shares fell for every one that rose on the New York Stock Exchange, where floor volume came to 1 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks struggled to a mixed finish Thursday after weak earnings news from 3M and other companies weighed on the market.

The Dow Jones industrial average lost 12 points, but broader indexes posted slight gains. The market had risen steadily in the opening moments of trading following a surprise drop in first-time claims for unemployment benefits, pushing the Dow up as high as 53.

3M Co. set a negative tone with a downbeat view on the economy and a lower forecast for full-year earnings. 3M's dim assessment of the U.S. and European economies was a sobering reminder that growth in many developed nations remains weak. The maker of everything from Post-It notes to Scotch Tape called growth in those regions "uninspiring." Its shares fell 6.4 percent.

*The NYSE DOW closed LOWER -12.33 points -0.11% on Thursday October 28*
Sym. Last......... .......Change.......... 
Dow 11,113.95 -12.33 -0.11% 
Nasdaq 2,507.37 +4.11 +0.16% 
S&P 500 1,183.78 +1.33 +0.11% 
30-yr Bond 4.0540% +0.0130  

NYSE Volume 4,806,948,000  (prior day 4,904,104,500)
Nasdaq Volume 2,032,764,880  (prior day 2,034,776,120)

*Europe*
Symbol.... Last...... .....Change.......  
FTSE 100 5,677.89 +31.87 +0.56% 
DAX 6,595.28 +27.28 +0.42% 
CAC 40 3,834.84 +19.07 +0.50%  

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,366.03 -21.00 -0.22%  
Hang Seng 23,210.86 +46.28 +0.20% 
Straits Times 3,129.50 +5.12 +0.16%  

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Stocks give up early gains; 3M, Apple disappoint

Stocks pull back after early gains as investors sort through big batch of earnings *

Stephen Bernard, AP Business Writer, On Thursday October 28, 2010, 5:34 pm 
NEW YORK (AP) -- Stocks struggled to a mixed finish Thursday after weak earnings news from 3M and other companies weighed on the market.

The Dow Jones industrial average lost 12 points, but broader indexes posted slight gains. The market had risen steadily in the opening moments of trading following a surprise drop in first-time claims for unemployment benefits, pushing the Dow up as high as 53.

3M Co. set a negative tone with a downbeat view on the economy and a lower forecast for full-year earnings. 3M's dim assessment of the U.S. and European economies was a sobering reminder that growth in many developed nations remains weak. The maker of everything from Post-It notes to Scotch Tape called growth in those regions "uninspiring." Its shares fell 6.4 percent.

Apple Inc. fell about 1 percent after warning in a regulatory filing that profit margins might narrow next year. Colgate-Palmolive Co. also said it expects sales growth to slow next year.

Not all the corporate news was bad. Eastman Kodak Co. rose 15.4 percent after saying more customers turned to home and office printers. Motorola Inc. said its phone division was profitable for the first time in three years as the company bets consumers will snap up more smart phones like the Droid X.

Avon Products Inc. sank 5.6 percent after reporting suprisingly poor results from emerging markets. The beauty products seller said weakness in Brazil and Russia hurt quarterly profits. Many companies have relied heavily on expansion in developing countries to offset lagging sales in the U.S. and Europe.

Mixed earnings over the past few days sapped energy from an upswing on the stock market, which has been on a nearly unbroken rise since early September.

Pharmaceutical companies Bayer AG and Sanofi-Aventis SA and automaker Hyundai Motor Co. kicked off earnings worldwide with upbeat results, sending stocks higher overseas before U.S. markets opened.

A surprise drop in claims for unemployment insurance provided the most encouragement about the economy. Claims fell to their lowest level in three months, bolstering hopes that companies might start ramping up hiring soon.

The Dow fell 12.33, or 0.1 percent, to close at 11,113.95.

The Standard & Poor's 500 index rose 1.33 point to 1,183.78, while the Nasdaq composite rose 4.11, or 0.2 percent, to 2,507.37

Not even a falling dollar could provide support for the market. Stocks and commodities have been very sensitive to the movement of the dollar in recent weeks. A decline in the dollar makes riskier assets priced in the currency, such as gold, oil and domestic stocks, more attractive to investors.

The dollar was broadly lower against other currencies, while commodities prices mostly rose. Gold rose $19.90 to $1,342.50 an ounce.

Bond prices rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.66 percent from 2.72 percent late Wednesday.

Gaining stocks narrowly outpaced declining ones on the New York Stock Exchange, where consdoliated volume came to 4.3 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Every market index was up more than 3 percent for the month. The Nasdaq finished October with a 5.9 percent gain.

For the first time since April, major stock indexes have risen for two months in a row. The Dow and S&P are both up about 6 percent for the year, while the Nasdaq is up 10.5 percent

Stocks edged higher Friday to close out the best October for the Dow Jones industrial average in four years.

Trading activity was relatively light, with the Dow keeping to a tight range of just 50 points, amid uncertainty over next week's elections. News that the U.S. economy rose at just a 2 percent annual pace in the three months ending in September had little effect on stock prices.

The Dow Jones industrial average rose 4.54, or 0.1 percent, to close at 11,118.49. The Standard and Poor's 500 Index fell 0.52, or 0.1 percent, to 1,183.26, while the technology focused Nasdaq composite index rose less than a point to 2,507.41.

*The NYSE DOW closed HIGHER +4.54  points +0.04%   on Friday October 29*
Sym. Last......... .......Change.......... 
Dow 11,118.49 +4.54 +0.04% 
Nasdaq 2,507.41 +0.04 +0.00% 
S&P 500 1,183.26 -0.52 -0.04% 
30-yr Bond 4.0000% -0.0540 

NYSE Volume 4,146,858,750  (prior day 4,806,948,000) 
Nasdaq Volume 2,098,312,000  (prior day 2,032,764,880) 

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,675.16 -2.73 -0.05% 
DAX 6,601.37 +6.09 +0.09% 
CAC 40 3,833.50 -1.34 -0.03%  

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,202.45 -163.58 -1.75% 
Hang Seng 23,096.32 -114.54 -0.49%  
Straits Times 3,142.62 +13.12 +0.42%

http://finance.yahoo.com/news/Stock...dcontent/main/380909214/date/desc/11/s1845423

*Stocks edge up to close strong October

Stocks waver as economic growth still slow; traders cautious before election, Fed meeting *

Stephen Bernard and David K. Randall, AP Business Writers, On Friday October 29, 2010, 5:43 pm 

NEW YORK (AP) -- Stocks edged higher Friday to close out the best October for the Dow Jones industrial average in four years.

Trading activity was relatively light, with the Dow keeping to a tight range of just 50 points, amid uncertainty over next week's elections. News that the U.S. economy rose at just a 2 percent annual pace in the three months ending in September had little effect on stock prices.

The Dow Jones industrial average rose 4.54, or 0.1 percent, to close at 11,118.49. The Standard and Poor's 500 Index fell 0.52, or 0.1 percent, to 1,183.26, while the technology focused Nasdaq composite index rose less than a point to 2,507.41.

Every market index was up more than 3 percent for the month. The Nasdaq finished October with a 5.9 percent gain.

For the first time since April, major stock indexes have risen for two months in a row. The Dow and S&P are both up about 6 percent for the year, while the Nasdaq is up 10.5 percent.

Since September, the Standard and Poor's 500 index, perhaps the best measure of the stock market, is up 12.7 percent. King Pharmaceuticals Inc., which was up 42 percent in October after Pfizer Inc. announced plans to buy it, was the index's best performing stock. Apollo Group Inc., which fell 27 percent in October after the company said that new government regulation would affect its profit, was the index's worst performer.

Normally slow GDP growth would have driven stocks much lower. But signs of weak economic expansion have built up expectations that the Federal Reserve will take bold steps to boost the economy when it meets early next week.

"Because GDP was so lackluster, we don't see the Fed pumping the brakes" on its plan, said Tony Zabiegala, a partner at Strategic Wealth Partners.

Stocks rose sharply during the first half of October as expectations mounted that the Fed would start buying Treasury bonds to drive interest rates lower. That, in turn, is supposed to spark spending and lending. In recent days, however, the size of the bond-buying program has been questioned, putting a market rally on hold.

John Apruzzese, a partner and portfolio manager at Evercore Wealth Management, said reaction in anticipation in the program is typical of the market.

"This is a classic situation where all the market movement is done in anticipation," Apruzzese said.

The market could be stuck in a holding pattern until the Fed wraps up its meeting Wednesday where it is expected to announce details about the bond-buying program.

A day before the Fed completes its meeting, voters will head to the polls for the midterm elections. Traders have been betting that Republicans will at least take control of the House of Representatives, which could slow government action.

Analysts say uncertainty over tax issues and potential costs from health care and financial regulation reform bills have been major reasons employers have been hesitant to start hiring new workers. The results of the election should provide more clarity about those questions.

Bond prices rose slightly following the GDP report. The yield on the benchmark 10-year Treasury note fell to 2.60 percent from 2.66 percent late Thursday.

Another batch of earnings news came in mixed. Microsoft Corp. rose after reporting higher income late Thursday, while Merck & Co. and Chevron Corp. fell following disappointing results. Merck was hurt by disappointing revenue figures, while Chevron fell short of earnings forecast after charges tied to foreign exchange.

Alocoa Inc., which rose 3.9 percent in Friday's trading, was the Dow's top performing stock. Cheveron, which fell 1.8 percent, was the measure's laggard.

Two stocks rose for every one that fell on the New York Stock Exchange, where consolidated trading volume came to 3.7 billion shares.

3543


----------



## bigdog

Source: http://finance.yahoo.com

Stocks closed mixed Monday as traders waited for this week's election results and more details about the Federal Reserve's plan to stimulate the economy.

Stocks rose early in the day following reports of unexpected growth in the manufacturing industry in both the U.S. and China last month. The Dow Jones industrial average rose 125 points, led by manufacturers Caterpillar Inc., United Technologies Corp. and General Electric Co.

But stocks were unable to hold on to their gains ahead of the election and the two-day Fed meeting that starts Tuesday. The Dow fell steadily throughout the day, briefly turning lower before a late rally gave it a modest advance.

*The NYSE DOW closed HIGHER +6.13 points +0.06% on Monday November 1*
Sym. Last......... .......Change.......... 
Dow 11,124.62 +6.13 +0.06% 
Nasdaq 2,504.84 -2.57 -0.10% 
S&P 500 1,184.38 +1.12 +0.09% 
30-yr Bond 4.0170% +0.0170

NYSE Volume 4,444,937,000  (prior day 4,146,858,750)  
Nasdaq Volume 1,921,234,750  (prior day 2,098,312,000) 

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,694.62 +19.46 +0.34% 
DAX 6,604.86 +3.49 +0.05% 
CAC 40 3,841.11 +7.61 +0.20%  

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,154.72 -47.73 -0.52% 
Hang Seng 23,652.94 +556.62 +2.41% 
Straits Times 3,192.18 +49.56 +1.58% 

http://finance.yahoo.com/news/Stocks-retreat-from-early-apf-313212598.html?x=0

*Stocks retreat from early gains

Stocks pare morning gains; traders eye elections, Fed meeting later in the week *

David K. Randall, AP Business Writer, On Monday November 1, 2010, 5:23 pm 

NEW YORK (AP) -- Stocks closed mixed Monday as traders waited for this week's election results and more details about the Federal Reserve's plan to stimulate the economy.

Stocks rose early in the day following reports of unexpected growth in the manufacturing industry in both the U.S. and China last month. The Dow Jones industrial average rose 125 points, led by manufacturers Caterpillar Inc., United Technologies Corp. and General Electric Co.

But stocks were unable to hold on to their gains ahead of the election and the two-day Fed meeting that starts Tuesday. The Dow fell steadily throughout the day, briefly turning lower before a late rally gave it a modest advance.

The Dow rose 6.13, or 0.1 percent, to finish at 11,124.62

The broad Standard & Poor's 500 index rose 1.12, or 0.1 percent, to 1,184.38, while the technology-focused Nasdaq composite index fell 2.57, or 0.1 percent, to 2,504.84.

In one sign of the mixed day in the stock market, half the industries that make up the Standard and Poor's 500 index fell, while the other half rose. Intel Corp. rose 2.5 percent to lead the 30 companies in the Dow, while Kraft Foods Inc. was the index's laggard with a 1.5 percent decline.

Investors have been assuming the Fed will launch a new program of buying Treasury bonds to help stimulate the economy. Stocks rose for much of October because investors expect the Fed will announce as early as Wednesday that it plans to buy government debt in an effort to spark consumer spending and bank lending. Only in the last few days has the market rally trailed off amid questions about exactly how much the Fed will spend to buy bonds. The Dow rose 3.1 percent in October, including a 0.1 percent drop last week.

Lower interest rates weaken returns on debt, which would make stocks and commodities more attractive investments since their potential return would be significantly higher.

Bond prices fell following the strong manufacturing report. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.63 percent from 2.60 percent late Friday.

The dollar rose 0.28 percent against a broad basket of currencies. The Euro Stoxx 50, which tracks the performance of blue chip stocks in Europe, fell 1 point to 2,541.77. China's Shanghai Composite Index rose 2.5 percent, or 75.1, to 3,054.02.


----------



## bigdog

Source: http://finance.yahoo.com

Major stock indexes rose Tuesday as investors awaited the results of Congressional elections, putting the Dow Jones industrial average near its highest point of the year.

The Dow Jones industrial average rose more than 60 points. The Dow has now traded above its 2010 closing high of 11,205 four times over the past two weeks, but failed to close above that level each time. Eric Thorne, an investment adviser with Bryn Mawr Trust Wealth Management, said many traders have been using the end of the day to take short-term profits.

A Republican gain of at least one house of Congress is most likely already reflected in stock prices. The slide of the dollar, which fell against the euro and the yen, helped push stocks higher on Tuesday as investors bought riskier assets.

*The NYSE DOW closed HIGHER +64.10 points +0.58% on Tuesday November 2*
Sym. Last......... .......Change.......... 
Dow 11,188.72 +64.10 +0.58% 
Nasdaq 2,533.52 +28.68 +1.14% 
S&P 500 1,193.57 +9.19 +0.78% 
30-yr Bond 3.9340% -0.0830  

NYSE Volume 4,288,465,000  (prior day  4,444,937,000)
Nasdaq Volume 1,934,148,120  (prior day 1,921,234,750) 

*Europe*
Symbol.... Last...... .....Change....... 
FTSE 100 5,757.43 +62.81 +1.10% 
DAX 6,654.31 +49.45 +0.75% 
CAC 40 3,865.72 +24.61 +0.64%  

*Asia*
Symbol...... Last...... .....Change.......
Nikkei 225 9,159.98 +5.26 +0.06% 
Hang Seng 23,671.42 +18.48 +0.08% 
Straits Times 3,205.28 +13.10 +0.41%  

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks rise on Election Day, tech at 2010 high

Stocks rise modestly as traders await election results, Fed announcement *

Stephen Bernard and David K. Randall, AP Business Writers, On Tuesday November 2, 2010, 5:45 pm 

NEW YORK (AP) -- Major stock indexes rose Tuesday as investors awaited the results of Congressional elections, putting the Dow Jones industrial average near its highest point of the year.

The Dow Jones industrial average rose more than 60 points. The Dow has now traded above its 2010 closing high of 11,205 four times over the past two weeks, but failed to close above that level each time. Eric Thorne, an investment adviser with Bryn Mawr Trust Wealth Management, said many traders have been using the end of the day to take short-term profits.

A Republican gain of at least one house of Congress is most likely already reflected in stock prices. The slide of the dollar, which fell against the euro and the yen, helped push stocks higher on Tuesday as investors bought riskier assets.

Small companies performed especially well. The Russell 2000, the index that tracks the performance of smaller corporations, jumped 2 percent to 712.89. The index is up nearly 14 percent for the year, roughly double the return of the Dow and the broad Standard and Poor's 500 index.

The Dow rose 64.10, or 0.6 percent, to close at 11,188.72. It reached its closing high of 11,205.03 on April 26.

The broader Standard & Poor's 500 index rose 9.19, or 0.8 percent, to 1,193.57. The S&P 500, which is more closely watched than the Dow by professional investors, is also still below its 2010 high of 1,217.28, reached on April 23.

The technology-focused Nasdaq composite index reached a new high for the year, as tech titans like Apple Inc., Microsoft Corp. and Amazon.com Inc. all gained more than 1.2 percent for the day. The Nasdaq rose 28.68, or 1.1 percent, to 2,533.52. Its previous high for the year was 2,530.15, which came in late April.

Uncertainty over the size of the Federal Reserve's expected stimulus program due Wednesday has kept the market from ending with either big gains or losses in recent days. Traders are waiting for the Federal Reserve to announce plans to buy bonds to spur spending, a process known as quantitative easing.

The Fed's purchase of Treasurys hurts the value of the dollar, which fell 0.7 percent today against an index of six other currencies. A weaker dollar, in turn, drives the price of gold, oil and other commodities higher. Companies tied to commodities, including Freeport-McMoRan Copper & Gold Inc., ExxonMobil Corp. and Alcoa Inc., rose more than 1 percent.

Broad stock market indexes are up approximately 12 percent since the Fed began hinting that it would begin buying bonds. The size of that rally has some traders anticipating that stock prices will fall after the Fed makes its announcement, regardless of what action it takes.

"What we're most likely seeing is a buy-the-rumor, sell-the-fact trade going on," said Nick Kalivas, an equities analyst at MF Global. "We've had a great earnings season so far, so I'm concerned that we'll get a postelection sell-off from profit-taking."

Bond prices rose slightly as investors anticipate the Fed ramping up purchases of government debt in the coming days. That drove the yield on the benchmark 10-year Treasury note down to 2.59 percent from 2.63 percent late Monday.

Pfizer Inc. shares dipped after its third-quarter revenue fell short of forecasts. The pharmaceutical company did, however, beat profit forecasts for the quarter and raised its full-year outlook.

Three stocks rose for every one that fell on the New York Stock Exchange, where trading volume came to 913 million shares.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average reached a new high for the year after the Federal Reserve announced that it plans to buy $600 billion in Treasurys to stimulate the economy. The aim is to drive interest rates lower in an effort to spark spending and lending.

The Dow Jones industrial average gained 26.41, or 0.2 percent, to 11,215.13, its highest close in two years. Its previous high for 2010 of 11,205 was reached on April 26. The Dow had traded above that level four other times in the past two weeks.

Broader indexes also rose. The Standard and Poor's 500 Index rose 4.39, or 0.4 percent, to 1,197.96, while the Nasdaq composite gained 6.75, or 0.3 percent, to 2,540.27.

The central bank had hinted for two months that it planned to buy bonds in an effort to boost the economy. The Fed made firmer commitments to buy bonds under the new program than many investors had been expecting, which helped push stock indexes and most Treasury prices higher.

*The NYSE DOW closed HIGHER +26.41 points +0.24% on Wednesday November 3*
Sym. .........Last .......Change.......... 
Dow 11,215.13 +26.41 +0.24% 
Nasdaq 2,540.27 +6.75 +0.27% 
S&P 500 1,197.96 +4.39 +0.37% 
30-yr Bond 0.3916% -3.5424 

NYSE Volume 5,412,413,000  (prior day 4,288,465,000)
Nasdaq Volume 2,017,429,880  (prior day 1,934,148,120)

*Australia*
Symbol ......Last ....Change....... 
All Ord 4,793.80 
ASX 200 4,722.60 
ASX 20 2,844.50 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,748.97 -8.46 -0.15% 
DAX 6,617.80 -36.51 -0.55% 
CAC 40 3,842.94 -22.78 -0.59% 

*Asia*
Symbol...... ......Last .....Change.......
Nikkei 225 9,159.98 +5.26 +0.06% 
Hang Seng 24,144.67 +473.25 +2.00% 
Straits Times 3,224.97 +19.69 +0.61% 

http://finance.yahoo.com/news/Dow-h...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Dow hits new 2010 high after Fed details stimulus

Stocks rise after Federal Reserve says it will buy $600 billion in Treasurys *

Stephen Bernard and David K. Randall, AP Business Writers, On Wednesday November 3, 2010, 4:51 pm 

NEW YORK (AP) -- The Dow Jones industrial average reached a new high for the year after the Federal Reserve announced that it plans to buy $600 billion in Treasurys to stimulate the economy. The aim is to drive interest rates lower in an effort to spark spending and lending.

The Dow Jones industrial average gained 26.41, or 0.2 percent, to 11,215.13, its highest close in two years. Its previous high for 2010 of 11,205 was reached on April 26. The Dow had traded above that level four other times in the past two weeks.

Broader indexes also rose. The Standard and Poor's 500 Index rose 4.39, or 0.4 percent, to 1,197.96, while the Nasdaq composite gained 6.75, or 0.3 percent, to 2,540.27.

The central bank had hinted for two months that it planned to buy bonds in an effort to boost the economy. The Fed made firmer commitments to buy bonds under the new program than many investors had been expecting, which helped push stock indexes and most Treasury prices higher.

Instead of reassessing its bond purchases every month given economic conditions, as many expected, the Fed pledged to buy $75 billion of Treasurys each month through the middle of next year.

Stocks initially swung lower after the announcement as traders absorbed the news but then pushed steadily higher in afternoon trading, giving all three indexes gains of about 0.3 percent on the day.

Mid-term election results that delivered a solid majority to the Republicans in the House of Representatives but kept Democratic control of the Senate was in line with what most investors were expecting.

The Fed's announcement was unusually direct for the central bank, which cleared the way for many investors to step back into the market.

"The Fed's move takes a lot of uncertainty out of the air," said Anthony Chan, the chief economist for JP Morgan Chase's private wealth management division. "This puts a floor on the economy's performance and gives them the opportunity to do more if the economy needs it."

The Dow's previous highest closing level of the year, which was 11,205.03 on April 26. The index is now at a level that it last reached during the financial crisis in September 2008. Hewlett Packard Co. rose 2.1 percent to post the largest gain among the 30 companies that make up the index. Microsoft Corp.'s 1.4 percent fall made it the Dow's laggard.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, remained at 2.59 percent. The yield on the 30-year bond, which won't be targeted by the Fed's bond-buying program nearly as much as investors had hoped, rose to 4.06 percent from 3.93 percent late Tuesday.

Key economic reports that would have normally affected trading were overshadowed by the Fed's meeting.

Payroll company ADP said private employers added 43,000 jobs last month after cutting jobs in September, which usually would have driven buying in the market. The report is seen as a gauge heading into the government's monthly employment report, which is due out Friday.

The Institute for Supply Management said growth in the service sector accelerated last month when economists were expecting a slowdown in the pace of expansion. That too would normally have provided stocks a lift.

The ISM report is closely watched because the service sector accounts for about 80 percent of the nation's jobs. Earlier this week, ISM said the growth in the manufacturing activity also accelerated last month.


----------



## bigdog

Source: http://finance.yahoo.com

The Federal Reserve wanted to push interest rates lower and jump-start financial markets with its $600 billion economic stimulus plan. So far the Fed is getting the results it wants.

Long-term interest rates sank and stocks indexes hit new highs Thursday, a day after the Fed announced its massive bond-buying plan. The Dow Jones industrial average soared more than 220 points, reaching another high for the year. All three main stock indexes have now reached 2010 highs this week.

After five straight days of gains, the Dow Jones industrial average returned to levels last seen in early September 2008, before the collapse of Lehman Brothers and the worst days of the financial crisis.

*The NYSE DOW closed HIGHER +219.71 points +1.96% on Thursday November 4*
Sym. .........Last .......Change.......... 
Dow 11,434.84 +219.71 +1.96% 
Nasdaq 2,577.34 +37.07 +1.46% 
S&P 500 1,221.06 +23.10 +1.93% 
30-yr Bond 0.3916% 0.0000 

NYSE Volume 6,677,299,000  (prior day 5,412,413,000)
Nasdaq Volume 2,543,724,500  (prior day 2,017,429,880)

*Australia*
Symbol ......Last ....Change....... 
All Ord 4,817.50 +23.70 +0.49% 
ASX 200 4,745.30 +22.70 +0.48% 
ASX 20 2,856.00 +11.50 +0.40% 

*Europe*
Symbol.... ......Last .....Change.......  
FTSE 100 5,862.79 +113.82 +1.98% 
DAX 6,734.69 +116.89 +1.77% 
CAC 40 3,916.78 +73.84 +1.92%  

*Asia*
Symbol...... ......Last .....Change.......
Nikkei 225 9,358.78 +198.80 +2.17% 
Hang Seng 24,535.63 +390.96 +1.62% 
Straits Times 3,240.31 +15.34 +0.48%  

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks set highs for 2010 after boost from the Fed

Dow jumps 219 as retailers, energy shares post big gains following Fed's move on the economy *

David K. Randall, AP Business Writer, On Thursday November 4, 2010, 5:43 pm 

NEW YORK (AP) -- The Federal Reserve wanted to push interest rates lower and jump-start financial markets with its $600 billion economic stimulus plan. So far the Fed is getting the results it wants.

Long-term interest rates sank and stocks indexes hit new highs Thursday, a day after the Fed announced its massive bond-buying plan. The Dow Jones industrial average soared more than 220 points, reaching another high for the year. All three main stock indexes have now reached 2010 highs this week.

After five straight days of gains, the Dow Jones industrial average returned to levels last seen in early September 2008, before the collapse of Lehman Brothers and the worst days of the financial crisis.

"Much of today's gains comes as a result of the government pumping money into the market," said Joe Kinahan, the chief derivatives strategist at TD Ameritrade.

The dollar fell against other currencies as traders anticipated lower U.S. interest rates because of the Fed's bond-buying program. Crude oil, gold and other commodities rose.

The Dow rose 219.71 points, or 2.0 percent, to close at 11,434.84. The broader S&P 500 index rose 23.10 points, or 1.9 percent, to 1,221.06, and the technology-heavy Nasdaq composite gained 37.07 points, or 1.5 percent to 2,577.34.

Retailers reported solid sales in October, sending shares of major retailing companies sharply higher. Gap Inc. rose 6 percent while Macy's Inc. jumped 6.6 percent.

"Those retail numbers are telling us that the holiday season is going to get off to a good start," said Stephen Jones, the chairman of Jones Villalta Funds.

On Wednesday, the Federal Reserve announced it plans to buy $600 billion in bonds in an effort to spur spending and ultimately lower the unemployment rate. The central bank was unusually detailed in its announcement, saying it planned to spend $75 billion a month on bonds until at least the middle of next year. That's on top of the roughly $35 billion a month its already buying.

In corporate news, shares of BHP Billiton, the world's largest mining company, rose 5.9 percent after the Canadian government rejected BHP's $38.6 billion bid to buy Potash Corp. of Saskatchewan. After the market closes, Kraft Foods Inc., Starbucks Corp. and CBS Corp. will announce earnings.

The Fed's plan will increase the supply of dollars held by banks and most likely push the value of the currency down. The dollar is at its lowest level since December 2009 against a broad basket of currencies, and was down 0.8 percent against that index Thursday. Energy prices jumped, sending oil up $1.80 to $86.49.

Finance ministers in emerging economies like China and Brazil have criticized the Fed's stimulus plan, arguing that low interest rates in the U.S. could fuel asset bubbles in their countries.

Treasury prices have been climbing since the Fed's announcement Wednesday afternoon. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.47 percent from 2.58 percent the day before.

Five stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 5.8 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks struggled to end barely higher Friday after a blowout report on job creation failed to extend a powerful rally this week driven by the Federal Reserve's latest plan to pump up the economy.

The Dow Jones industrial average waffled between gains and losses for much of the day before ending with a gain of just 9 points. Earlier in the week the Dow reached its highest level since September 2008, just before the peak of the financial crisis, over enthusiasm about the Fed's $600 billion bond-buying program announced Wednesday.

Stocks rapidly lost momentum Friday, despite a report from the Labor Department showing that employers added 151,000 jobs last month, the first gain since May and far more than analysts had anticipated.

*The NYSE DOW closed HIGHER +9.24 ponits +0.08% on Friday November 5*
Sym. .........Last .......Change.......... 
Dow 11,444.08 +9.24 +0.08% 
Nasdaq 2,578.98 +1.64 +0.06% 
S&P 500 1,225.85 +4.79 +0.39% 
30-yr Bond 0.3916% 0.0000 

NYSE Volume 6,298,344,500  (prior day 6,677,299,000)
Nasdaq Volume 2,107,994,500  (prior day 2,543,724,500)

*Australia*
Symbol ......Last ....Change.......  
All Ord 4,872.90 +55.40 +1.15% 
ASX 200 4,800.60 +55.30 +1.17% 
ASX 20 2,891.90 +35.90 +1.26%  

*Europe*
Symbol.... ......Last .....Change.......  
FTSE 100 5,875.35 +12.56 +0.21% 
DAX 6,754.20 +19.51 +0.29%  
CAC 40 3,916.73 -0.05 -0.00% 

*Asia*
Symbol...... ......Last .....Change.......
Nikkei 225 9,625.99 +267.21 +2.86% 
Hang Seng 24,876.82 +341.19 +1.39% 
Straits Times 3,240.31 +15.34 +0.48%  

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks post meager gains despite strong jobs news

Investors shrug off best jobs report in 5 months; weeklong stock rally loses steam *

Seth Sutel, AP Business Writer, On Friday November 5, 2010, 4:48 pm 

NEW YORK (AP) -- Stocks struggled to end barely higher Friday after a blowout report on job creation failed to extend a powerful rally this week driven by the Federal Reserve's latest plan to pump up the economy.

The Dow Jones industrial average waffled between gains and losses for much of the day before ending with a gain of just 9 points. Earlier in the week the Dow reached its highest level since September 2008, just before the peak of the financial crisis, over enthusiasm about the Fed's $600 billion bond-buying program announced Wednesday.

Stocks rapidly lost momentum Friday, despite a report from the Labor Department showing that employers added 151,000 jobs last month, the first gain since May and far more than analysts had anticipated.

A poor profit report made Kraft Foods Inc. the worst-performing member of the 30 stocks that make up the Dow average. The huge food company said its net income fell more than 8 percent last quarter as it spent more to promote its brands. Bank of America Corp. and JPMorgan Chase & Co. rose sharply, bringing other financial shares along with them, on news that big banks may soon be able to raise their dividends.

The Dow closed up 9.24, or 0.1 percent, at 11,444.08. The broader Standard & Poor's 500 index edged up 4.79, or 0.4 percent, to 1,225.85, and the Nasdaq composite index edged up 1.64, or 0.1 percent, to 2,578.98.

Treasury yields inched higher as investors trimmed their holdings of defensive investments. The yield on the 10-year note rose to 2.54 percent from 2.47 percent late Thursday. The dollar rose against other currencies, and commodity prices mainly rose.

Stocks had been rallying this week as investors cheered the long-anticipated economic stimulus program from the Fed. The details of the plan were slightly more than many were expecting, and helped lead the Dow to a 220-point charge on Thursday.

The October payrolls gain was tempered by news that the national unemployment rate, which is measured by a separate survey of households, remained stuck at 9.6 percent for the third straight month. The economy needs to consistently add at least 100,000 new jobs a month just to keep up with the expansion of the population. In September, employers cut 95,000 jobs.

Unemployment has remained stubbornly high despite the official end of the recession in June of 2009 and other bright spots in the economy, including gains in manufacturing and retail spending. That high jobless rate has helped delay a rebound in the housing market and frustrated investors, everyday Americans and policymakers in Washington.

Speaking shortly after the jobs report came out, President Barack Obama said he was "open to any idea, any proposal" to help jump-start the economy. Obama, whose Democratic party lost the House of Representatives in mid-term elections on Tuesday, said the country can't afford two more years of partisan gridlock in Washington.

In other corporate news, Starbucks Corp. jumped 3.8 percent after reporting late Thursday that its earnings doubled last quarter. The world's largest coffee chain also raised its target for profits next year. Kraft fell 2.2 percent after its disappointing earnings report.

Fluor Corp. jumped 9.5 percent after the engineering and construction company said revenue and new awards rose. Coventry Health Care Inc. rose 5.9 percent after the health insurer said its income more than doubled in the last quarter and raised its full-year profit forecast.

Overseas markets were mostly higher. Britain's FT-SE edged up 0.2 percent, Germany's DAX rose 0.3 percent and France's CAC-40 was flat.

Japan's Nikkei 225 jumped 2.9 percent after that country's central bank outlined details of its own program to stimulate its economy by buying up debt securities.

3963


----------



## bigdog

Source: http://finance.yahoo.com

Stocks pulled back Monday as traders retreated from a rally that brought indexes to their highest levels since the peak of the financial crisis in September 2008.

Gold crossed $1,400 an ounce to another record on Monday as traders looked for safe places to park money.

The Dow Jones industrial average fell 37.24, or 0.3 percent, to close at 11,406.84. It surged 2.9 percent last week after the Federal Reserved announced a $600 billion stimulus package for the U.S. economy.

The Standard and Poor's 500 index fell 2.60, or 0.2 percent, to 1,223.25.

The Nasdaq composite index continued to outperform other market measures, as it has done all year, edging up 1.07, or 0.04 percent, to 2,580.05. The technology-focused index is up 13.7 percent for the year, compared to a 9.4 percent gain for the Dow and a 9.7 gain for the S&P 500.

*The NYSE DOW closed LOWER -37.24 points -0.33% on Monday November 8*
Sym. .........Last .......Change..........  
Dow 11,406.84 -37.24 -0.33% 
Nasdaq 2,580.05 +1.07 +0.04% 
S&P 500 1,223.25 -2.60 -0.21% 
30-yr Bond 4.1380% +0.0120  

NYSE Volume 4,495,172,000  (prior day 6,298,344,500)
Nasdaq Volume 1,832,529,620  (prior day  2,107,994,500)

*Australia*
Symbol ......Last ....Change.......  
All Ord 4,855.30 -17.60 -0.36% 
ASX 200 4,778.40 -22.20 -0.46% 
ASX 20 2,872.20 -19.70 -0.68% 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,849.96 -25.39 -0.43% 
DAX 6,750.50 -3.70 -0.05% 
CAC 40 3,913.70 -3.03 -0.08% 

*Asia*
Symbol...... ......Last .....Change.......
Nikkei 225 9,732.92 +106.93 +1.11% 
Hang Seng 24,964.37 +87.55 +0.35% 
Straits Times 3,300.40 +60.09 +1.85%  

http://finance.yahoo.com/news/Stocks-fall-as-rally-runs-out-apf-974189016.html?x=0

*Stocks fall as rally runs out of steam; Dow off 37

Stocks fall after last week's run to more than 2-year highs; gold to $1,400 an ounce*

David K. Randall, Associated Press Business Writer, On Monday November 8, 2010, 4:45 pm 

NEW YORK (AP) -- Stocks pulled back Monday as traders retreated from a rally that brought indexes to their highest levels since the peak of the financial crisis in September 2008.

Gold crossed $1,400 an ounce to another record on Monday as traders looked for safe places to park money.

The Dow Jones industrial average fell 37.24, or 0.3 percent, to close at 11,406.84. It surged 2.9 percent last week after the Federal Reserved announced a $600 billion stimulus package for the U.S. economy.

The Standard and Poor's 500 index fell 2.60, or 0.2 percent, to 1,223.25.

The Nasdaq composite index continued to outperform other market measures, as it has done all year, edging up 1.07, or 0.04 percent, to 2,580.05. The technology-focused index is up 13.7 percent for the year, compared to a 9.4 percent gain for the Dow and a 9.7 gain for the S&P 500.

Financial companies were down the most among the 10 industry groups that make up the S&P 500 index. Technology, energy and materials companies were the only groups in the index to show meager gains.

"Today is shaping up to be a modest sell-off and that's to be expected," said Barnaby Levin, a managing director at HighTower Advisors.

Stocks have risen in recent weeks on better-than-expected corporate earnings reports and the introduction of a bond-buying program by the Federal Reserve that is intended to stimulate the economy by driving interest rates lower and encouraging spending.

The dollar rose 0.5 percent against a broad basket of currencies. That's a negative for big U.S. companies like Caterpillar Inc. that do a lot of business overseas, since a stronger dollar makes their products more expensive in other countries. Caterpillar was off 0.5 percent, and Boeing Co., another big exporter, was off 1.5 percent, putting it in a tie with Travelers Cos. for biggest laggard among the 30 companies that make up the Dow.

Despite weakness in other financial stocks, shares of Bank of America Corp. rose 1.9 to make it the best performing company among the Dow 30, followed by Hewlett Packard Co. and Cisco Systems Inc.

The euro fell 0.8 percent from recent highs, in part on renewed concerns about the debt burdens of the weaker economies among countries that use the Euro. Ireland announced Thursday that it would raise taxes and seek additional cuts in government services to rein in its deficit. Yields on 10-year Irish bonds rose sharply in response. U.S. markets had swooned this spring over concerns that a fiscal crisis in Greece would spread to Portugal, Spain and other weak economies in the euro zone.

Prices for Treasury bonds fell. The yield on the 10-year Treasury bond rose slightly to 2.55 percent, from 2.53 percent late Friday.

St. Louis Fed President James Bullard on Monday defended the central bank's stimulus program in a meeting at the New York Society of Security Analysts. Bullard said that the pace of economic recovery had slowed, which made deflation, rather than inflation, a greater concern for the Fed.

"U.S. policy should strive to avoid the possiblity of a Japanese-style deflation," he said.

Japan's economy has stalled since its stock market peaked in the early 1990s. In deflation, banks curtail lending, consumers drastically cut back on spending and corporations hoard cash out of fear that prices will continue to fall.

Traders will get a better indication of consumer spending later in the week when several major retailers announce earnings. Kohl's Corp., Macy's Inc. and J.C. Penny Co. Inc. will release their third-quarter reports starting Wednesday. Retailers such as The Gap Inc. and Macy's rose more than 8 percent last week on better-than-expected October sales that suggest that consumers will increase their spending this holiday season.

Leaders from the Group of 20 industrialized and developing nations will meet Thursday and Friday in Seoul. Tensions have risen in the group regarding trade imbalances and the respective strength of the Chinese yuan and the dollar.

Officials from several countries have criticized the Fed's bond-buying program amid concerns that it will spark asset bubbles in emerging economies. Representatives in Germany, Brazil, South Africa and China have voiced objections to the plan and argued that it could lead to a surge in commodity prices.

Precious metals rose as investors hedged their bets against inflation and sought out stable stores of value. Gold gained 0.4 percent to settle at $1,403.20 an ounce, its latest record, and silver jumped 2.6 percent to $27.432 an ounce.

Falling stocks narrowly outpaced rising ones on the New York Stock Exchange, where volume came to 900 million shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks pulled back Monday as traders retreated from a rally that brought indexes to their highest levels since the peak of the financial crisis in September 2008.

Gold crossed $1,400 an ounce to another record on Monday as traders looked for safe places to park money.

The Dow Jones industrial average fell 37.24, or 0.3 percent, to close at 11,406.84. It surged 2.9 percent last week after the Federal Reserved announced a $600 billion stimulus package for the U.S. economy.

The Standard and Poor's 500 index fell 2.60, or 0.2 percent, to 1,223.25.

The Nasdaq composite index continued to outperform other market measures, as it has done all year, edging up 1.07, or 0.04 percent, to 2,580.05. The technology-focused index is up 13.7 percent for the year, compared to a 9.4 percent gain for the Dow and a 9.7 gain for the S&P 500.

*The NYSE DOW closed LOWER  -60.09 points -0.53% on Tuesday November 9*
Sym. .........Last .......Change.......... 
Dow 11,346.75 -60.09 -0.53% 
Nasdaq 2,562.98 -17.07 -0.66% 
S&P 500 1,213.40 -9.85 -0.81% 
30-yr Bond 0.3916% -3.7464  

NYSE Volume 5,511,404,500  (prior day 4,495,172,000)
Nasdaq Volume 2,183,054,500  (prior day 1,832,529,620)

*Australia*
Symbol ......Last ....Change.......  
All Ord 4,820.80 -34.50 -0.71% 
ASX 200 4,740.70 -37.70 -0.79% 
ASX 20 2,842.50 -29.70 -1.03% 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,875.19 +25.23 +0.43% 
DAX 6,787.81 +37.31 +0.55% 
CAC 40 3,945.71 +32.01 +0.82%  

*Asia*
Symbol...... ......Last .....Change.......
Nikkei 225 9,694.49 -38.43 -0.39% 
Hang Seng 24,710.60 -253.77 -1.02% 
Straits Times 3,313.61 +13.21 +0.40%  

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks fall as rally runs out of steam; Dow off 37

Stocks fall after last week's run to more than 2-year highs; gold to $1,400 an ounce *

David K. Randall, Associated Press Business Writer, On Monday November 8, 2010, 5:34 pm EST 

NEW YORK (AP) -- Stocks pulled back Monday as traders retreated from a rally that brought indexes to their highest levels since the peak of the financial crisis in September 2008.

Gold crossed $1,400 an ounce to another record on Monday as traders looked for safe places to park money.

The Dow Jones industrial average fell 37.24, or 0.3 percent, to close at 11,406.84. It surged 2.9 percent last week after the Federal Reserved announced a $600 billion stimulus package for the U.S. economy.

The Standard and Poor's 500 index fell 2.60, or 0.2 percent, to 1,223.25.

The Nasdaq composite index continued to outperform other market measures, as it has done all year, edging up 1.07, or 0.04 percent, to 2,580.05. The technology-focused index is up 13.7 percent for the year, compared to a 9.4 percent gain for the Dow and a 9.7 gain for the S&P 500.

Financial companies were down the most among the 10 industry groups that make up the S&P 500 index. Technology, energy and materials companies were the only groups in the index to show meager gains.

"Today is shaping up to be a modest sell-off and that's to be expected," said Barnaby Levin, a managing director at HighTower Advisors.

Stocks have risen in recent weeks on better-than-expected corporate earnings reports and the introduction of a bond-buying program by the Federal Reserve that is intended to stimulate the economy by driving interest rates lower and encouraging spending.

The dollar rose 0.5 percent against a broad basket of currencies. That's a negative for big U.S. companies like Caterpillar Inc. that do a lot of business overseas, since a stronger dollar makes their products more expensive in other countries. Caterpillar was off 0.5 percent, and Boeing Co., another big exporter, was off 1.5 percent, putting it in a tie with Travelers Cos. for biggest laggard among the 30 companies that make up the Dow.

Despite weakness in other financial stocks, shares of Bank of America Corp. rose 1.9 to make it the best performing company among the Dow 30, followed by Hewlett Packard Co. and Cisco Systems Inc.

The euro fell 0.8 percent from recent highs, in part on renewed concerns about the debt burdens of the weaker economies among countries that use the Euro. Ireland announced Thursday that it would raise taxes and seek additional cuts in government services to rein in its deficit. Yields on 10-year Irish bonds rose sharply in response. U.S. markets had swooned this spring over concerns that a fiscal crisis in Greece would spread to Portugal, Spain and other weak economies in the euro zone.

Prices for Treasury bonds fell. The yield on the 10-year Treasury bond rose slightly to 2.55 percent, from 2.53 percent late Friday.

St. Louis Fed President James Bullard on Monday defended the central bank's stimulus program in a meeting at the New York Society of Security Analysts. Bullard said that the pace of economic recovery had slowed, which made deflation, rather than inflation, a greater concern for the Fed.

"U.S. policy should strive to avoid the possiblity of a Japanese-style deflation," he said.

Japan's economy has stalled since its stock market peaked in the early 1990s. In deflation, banks curtail lending, consumers drastically cut back on spending and corporations hoard cash out of fear that prices will continue to fall.

Traders will get a better indication of consumer spending later in the week when several major retailers announce earnings. Kohl's Corp., Macy's Inc. and J.C. Penny Co. Inc. will release their third-quarter reports starting Wednesday. Retailers such as The Gap Inc. and Macy's rose more than 8 percent last week on better-than-expected October sales that suggest that consumers will increase their spending this holiday season.

Leaders from the Group of 20 industrialized and developing nations will meet Thursday and Friday in Seoul. Tensions have risen in the group regarding trade imbalances and the respective strength of the Chinese yuan and the dollar.

Officials from several countries have criticized the Fed's bond-buying program amid concerns that it will spark asset bubbles in emerging economies. Representatives in Germany, Brazil, South Africa and China have voiced objections to the plan and argued that it could lead to a surge in commodity prices.

Precious metals rose as investors hedged their bets against inflation and sought out stable stores of value. Gold gained 0.4 percent to settle at $1,403.20 an ounce, its latest record, and silver jumped 2.6 percent to $27.432 an ounce.

Falling stocks narrowly outpaced rising ones on the New York Stock Exchange, where volume came to 4 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks posted meager gains Wednesday as traders remained cautious ahead of a global economic summit where the U.S. is likely to face pushback from other nations over its economic stimulus plan.

Major indexes were down for much of the day but managed to edge higher by late afternoon. A report showing a sharp decline in first-time claims for unemployment benefits helped support stock prices. A jump in oil prices lifted shares of energy companies including Chevron Corp. and ConocoPhillips.

An announcement from the Federal Reserve Bank of New York detailing the Fed's plans for its upcoming bond-purchasing program helped bring stock indexes somewhat higher in the mid-afternoon. The Fed's program, announced last week, is aimed at encouraging borrowing and spending by keeping interest rates low.

*The NYSE DOW closed HIGHER +10.29 points +0.09% on Wednesday November 10*
Sym. .........Last .......Change.......... 
Dow 11,357.04 +10.29 +0.09% 
Nasdaq 2,578.78 +15.80 +0.62% 
S&P 500 1,218.71 +5.31 +0.44% 
30-yr Bond 0.3916% 0.0000 

NYSE Volume 5,275,357,500  (prior day 5,511,404,500)
Nasdaq Volume 2,022,837,620  (prior day  2,183,054,500)

*Australia*
Symbol ......Last ....Change.......  
All Ord 4,779.50 -41.30 -0.86% 
ASX 200 4,699.80 -40.90 -0.86% 
ASX 20 2,815.60 -26.90 -0.95% 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,816.94 -58.25 -0.99% 
DAX 6,719.84 -67.97 -1.00% 
CAC 40 3,888.45 -57.26 -1.45%  

*Asia*
Symbol...... ......Last .....Change.......
Nikkei 225 9,830.52 +136.03 +1.40% 
Hang Seng 24,500.61 -209.99 -0.85% 
Straits Times 3,289.24 -24.37 -0.74% 

http://finance.yahoo.com/news/Stocks-edge-higher-amid-apf-2150040312.html?x=0

*Stocks edge higher amid caution over G20 summit

Stocks eke out modest gains; caution prevails ahead of G20 summit; unemployment claims fall *

Stephen Bernard, AP Business Writer, On Wednesday November 10, 2010, 4:54 pm 

NEW YORK (AP) -- Stocks posted meager gains Wednesday as traders remained cautious ahead of a global economic summit where the U.S. is likely to face pushback from other nations over its economic stimulus plan.

Major indexes were down for much of the day but managed to edge higher by late afternoon. A report showing a sharp decline in first-time claims for unemployment benefits helped support stock prices. A jump in oil prices lifted shares of energy companies including Chevron Corp. and ConocoPhillips.

An announcement from the Federal Reserve Bank of New York detailing the Fed's plans for its upcoming bond-purchasing program helped bring stock indexes somewhat higher in the mid-afternoon. The Fed's program, announced last week, is aimed at encouraging borrowing and spending by keeping interest rates low.

The Dow Jones industrial average rose 10.29, or 0.1 percent, to close at 11,357.04. The Dow had been down as many as 92 points earlier in the day.

The Standard & Poor's 500 index added 5.31, or 0.4 percent, to 1,218.71, and the Nasdaq composite rose 15.80, or 0.6 percent, to 2,578.78.

Stocks were held in check for most of the day ahead of a summit of world leaders coming up Thursday and Friday in South Korea. The plans by the Federal Reserve to push interest rates lower has brought protests from Germany, China and other countries. They say the U.S. is trying to lower the value of the dollar, which would give an advantage to U.S. exports in global markets at the expense of those from other nations.

Uri Landesman, president at Platinum Partners, said Wednesday's pause on Wall Street is natural for a market that has been climbing nearly unchecked since early September. Major indexes have all touched highs for the year in recent days.

The yield on the benchmark 10-year Treasury note edged down to 2.65 percent from 2.66 percent late Tuesday. Oil rose $1.09 to $87.81 a barrel, and gold edged down to just below $1,400 an ounce.

In corporate news, General Motors Corp. said it earned $2 billion in the third quarter. The big profit came at the right time for the automaker. It is set for an initial public offering next week after struggling through bankruptcy and a government bailout. Shares of rival Ford Motor Co. rose 3.5 percent following the strong earnings report from GM.

European indexes slid as worries grow about debt problems in Ireland. The FTSE 100 fell 1 percent, Germany's DAX index dropped 1 percent, and France's CAC-40 fell 1.5 percent.

The euro briefly fell below $1.37 for the first time in three weeks. Concerns about mounting government debt in many European countries have been pressuring global stock markets throughout the year.

Gaining shares outnumbered falling ones three to two on the New York Stock Exchange, where volume came to 1.1 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks tumbled Thursday after a disappointing outlook from Cisco Systems Inc. rattled a market already on edge as an economic summit of world leaders got under way in South Korea.

Global leaders were sharply divided over currency and trade policies heading in to the Group of 20 summit meeting in Korea, and a sense of pessimism was hanging over the start of the meeting of top officials from rich and emerging economies.

The Dow Jones industrial average fell 73.94, or 0.7 percent, to close at 11,283.10, after trading down as much as 126 earlier in the day. The index fell for three out of the last four sessions.

Cisco disappointed investors when it cut its sales forecast for a second quarter in a row, sending its shares down 16.2 percent to $20.52. That dragged down shares of other technology stocks and other Dow components. Hewlett-Packard Co. fell 2.4 percent, while IBM Corp. fell 0.8 percent.

*The NYSE DOW closed LOWER -73.94 points -0.65% on Thursday November 11*
Sym. .........Last .......Change.......... 
Dow 11,283.10 -73.94 -0.65% 
Nasdaq 2,555.52 -23.26 -0.90% 
S&P 500 1,213.54 -5.17 -0.42%  
30-yr Bond 0.3916% 0.0000 

NYSE Volume 4,389,077,000  (prior day 5,275,357,500) 
Nasdaq Volume 2,567,682,500  (prior day 2,022,837,620)

*Australia*
Symbol ......Last ....Change....... 
All Ord 4,810.30 +30.80 +0.64% 
ASX 200 4,728.60 +28.80 +0.61% 
ASX 20 2,832.00 +16.40 +0.58%  

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,815.23 -1.71 -0.03%  
DAX 6,723.41 +3.57 +0.05%  
CAC 40 3,867.35 -21.10 -0.54% 

*Asia*
Symbol...... ......Last .....Change.......
Nikkei 225 9,861.46 +30.94 +0.31% 
Hang Seng 24,700.30 +199.69 +0.82% 
Straits Times 3,293.39 +4.15 +0.13% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks sink as Cisco's outlook disappoints

Stocks tumble after Cisco's disappointing sales forecast; investors cautious during G20 summit *

Stephen Bernard, AP Business Writer, On Thursday November 11, 2010, 5:14 pm 

NEW YORK (AP) -- Stocks tumbled Thursday after a disappointing outlook from Cisco Systems Inc. rattled a market already on edge as an economic summit of world leaders got under way in South Korea.

Global leaders were sharply divided over currency and trade policies heading in to the Group of 20 summit meeting in Korea, and a sense of pessimism was hanging over the start of the meeting of top officials from rich and emerging economies.

The Dow Jones industrial average fell 73.94, or 0.7 percent, to close at 11,283.10, after trading down as much as 126 earlier in the day. The index fell for three out of the last four sessions.

Cisco disappointed investors when it cut its sales forecast for a second quarter in a row, sending its shares down 16.2 percent to $20.52. That dragged down shares of other technology stocks and other Dow components. Hewlett-Packard Co. fell 2.4 percent, while IBM Corp. fell 0.8 percent.

"Cisco is clearly a tech benchmark," said Philip Dow, director of equity strategy at RBC Wealth Management. "With a second disappointment in a row, people are questioning if their business model is broken."

The computer network equipment maker said its revenue will rise by less than half of what analysts had predicted for its November-through-January quarter. There are worries that smaller competitors are cutting into Cisco's market share.

Technology shares have been among the best performing in recent months with more companies investing in new technology coming out of the recession. Cisco's cautious forecast puts a damper on expectations for broader growth in the sector in the coming quarters.

The Standard & Poor's 500 index fell 5.17, or 0.4 percent, to 1,213.54. The Nasdaq composite dropped 23.26, or 0.9 percent, to 2,555.52.

Volume was a bit lighter than in recent days because of the Veterans' Day holiday. Bond trading is closed for the holiday.

Investors were cautious as global leaders began an economic summit in South Korea, where the U.S. has received a cool reaction from other nations over its economic stimulus plan. China and Germany were critical of the U.S. last week after the Federal Reserve announced a bond-buying program that effectively cut the value of the dollar. In turn, the U.S. has criticized China for holding its currency artificially low.

A weak currency helps a country's exports because they become cheaper to sell overseas. That can lead to big trade imbalances and protectionist reactions from government's trying to keep their own countries' goods from being priced out of the world market.

The dollar gained ground against the euro Thursday, and was little changed against Japan's yen. The Japanese government has flooded currency markets multiple times in recent months with yen to cut the value of the currency as it hovers near a 15-year low against the dollar.

The euro has struggled in recent days because of fresh concerns about government debt problems, particularly in Ireland.

A steadily declining dollar over the past two months has helped funnel money into stocks and commodities as investors seek better returns.

Gold climbed back up over $1,400, to settle at $1403.30.

Falling shares outnumbered gaining ones two to one on the New York Stock Exchange, where volume came to 950 million shares.


----------



## bigdog

Source: http://finance.yahoo.com

The stock market recorded its biggest weekly drop in three months as a feeling of malaise took over after the U.S. failed to rally world leaders to come up with plans to strengthen global growth.

"The G-20 wasn't much of a success for the U.S.," said Kim Caughey Forrest, equity research analyst at Fort Pitt Capital Group. "There's a sense that nobody really has the ideas on how to get us out of here."

On Friday, stocks and commodities took another nosedive on worries that China might put the brakes on its surging economy. Any cooling of China's economy would slow down demand for raw materials, and that sent prices of oil, metals and grains tumbling.

The Dow Jones industrial average fell 90.52, or 0.80 to 11,192.58, led by sharp losses in energy and materials stocks. Construction giant Caterpillar Inc., which has huge operations in China, fell 1.40 percent to $81.04 and oil company ExxonMobil Corp. fell 0.84 percent to $70.99.

For the week, the Dow was off 2.2 percent, its seventh-largest weekly drop this year and its biggest weekly fall since the week ending Aug. 13.

Gold fell $37.80, or 2.7 percent, to $1,365.50 an ounce. Crude oil fell $2.93, or 3.3 percent, to $84.88 a barrel

*The NYSE DOW closed LOWER -90.52 points -0.80% on Friday November 12*
Sym. .........Last .......Change.......... 
Dow 11,192.58 -90.52 -0.80% 
Nasdaq 2,518.21 -37.31 -1.46% 
S&P 500 1,199.21 -14.33 -1.18%  
30-yr Bond 4.2680% +0.0310 

NYSE Volume 4,899,339,000  (prior day 4,389,077,000) 
Nasdaq Volume 2,209,054,000  (prior day 2,567,682,500)

*Australia*
Symbol ......Last ....Change....... 
All Ord 4,778.80 -31.50 -0.65% 
ASX 200 4,692.70 -35.90 -0.76% 
ASX 20 2,809.30 -22.70 -0.80% 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,796.87 -18.36 -0.32%  
DAX 6,734.61 +11.20 +0.17%  
CAC 40 3,831.12 -36.23 -0.94% 

*Asia*
Symbol...... ......Last .....Change.......
Nikkei 225 9,724.81 -136.65 -1.39% 
Hang Seng 24,222.58 -477.72 -1.93% 
Straits Times 3,252.00 -41.39 -1.26%

http://au.finance.yahoo.com/news/Stocks-record-worst-week-in-apf-1975540360.html?x=0

*Stocks record worst week in three months

Stocks fall over worries China might raise rates; drop in commodities hurts oil, gold stocks *

Stephen Bernard and Pallavi Gogoi, AP Business Writer, On Saturday 13 November 2010, 9:50 EST 

NEW YORK (AP) -- The stock market recorded its biggest weekly drop in three months as a feeling of malaise took over after the U.S. failed to rally world leaders to come up with plans to strengthen global growth.

"The G-20 wasn't much of a success for the U.S.," said Kim Caughey Forrest, equity research analyst at Fort Pitt Capital Group. "There's a sense that nobody really has the ideas on how to get us out of here."

On Friday, stocks and commodities took another nosedive on worries that China might put the brakes on its surging economy. Any cooling of China's economy would slow down demand for raw materials, and that sent prices of oil, metals and grains tumbling.

The Dow Jones industrial average fell 90.52, or 0.80 to 11,192.58, led by sharp losses in energy and materials stocks. Construction giant Caterpillar Inc., which has huge operations in China, fell 1.40 percent to $81.04 and oil company ExxonMobil Corp. fell 0.84 percent to $70.99.

For the week, the Dow was off 2.2 percent, its seventh-largest weekly drop this year and its biggest weekly fall since the week ending Aug. 13.

The Standard & Poor's 500 index fell 14.43, or 1.2 percent, to 1,199.21, while the Nasdaq composite index fell 37.31, or 1.5 percent, to 2,518.21.

The Chinese government said that the pace of inflation hit a more than two-year high in October. The markets took that as a signal that the China would hike rates to tamp down inflation. It led to a sell off in global markets, from China to the U.S. The Shanghai composite index plummeted 5.2 percent, while Hong Kong's Hang Seng fell 1.9 percent.

Gold fell $37.80, or 2.7 percent, to $1,365.50 an ounce. Crude oil fell $2.93, or 3.3 percent, to $84.88 a barrel, while soybeans plummeted 70 cents, or 5.2 percent, to $12.69 a bushel.

China's robust economy has helped offset sluggishness in developed markets like the U.S. and Europe. Many companies, like Caterpillar and McDonald's Corp. have credited international sales, particularly in China, as a reason earnings have been strong.

The speculation about a rate hike in China came as little headway was made on a plan to strengthen global growth. Leaders from the Group of 20, which includes large developed and emerging economies, failed to agree on policies about trade and currency manipulation that could stoke protectionism and a trade war.

Other nations refused to endorse a plan the U.S. presented to force China to allow the value of its currency to rise. The U.S. argues that China is keeping the value of its currency artificially low because a weak currency makes exports cheaper and more attractive globally. That, in turn, gives China an unfair advantage in global markets, helping its economy at the expense of others.

The dollar resumed its slide against other major currencies. It had rallied in recent days, particularly against the euro, as Ireland's debt crunch renewed worries about the European financial system. A fiscal crisis in Greece this spring helped bring down stocks around the world, and investors are hoping Ireland can right its own finances without having to seek a bailout as Greece did.

Bond prices fell, sending interest rates higher. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.78 percent from 2.65 percent the previous day.

Intel Corp. was among the few gainers Friday, rising 1.51 percent to $21.53 after the chip maker said it will raise its dividend 15 percent.

Falling shares outnumbered gaining ones five to one on the New York Stock Exchange, where consolidated volume came to 4.2 billion shares.

4358


----------



## bigdog

Source: http://finance.yahoo.com

Stocks slumped to a mixed finish Monday as the dollar posted its second day of gains over concerns that Europe is on the edge of another bailout.

Investors believe that Ireland may seek help from its fellow members in the European Union as its economy sputters. The dollar also spiked in May when Europe bailed out Greece. Ireland's finances are under strain after the government bailed out five banks after the country's real estate boom collapsed.

The rising value of the dollar, which hurts U.S. exports, resulted in stocks paring their gains late in the day. Stocks had risen for most of the day following following a spike in corporate dealmaking and news that retail sales in October jumped to the highest level in seven months.

Consumer spending rose 1.2 percent last month thanks to higher demand for automobiles, the Commerce Department reported. The gain was nearly double what analysts were expecting. Shares of Ford Motor Co. rose 4.3 percent following the announcement.

*The NYSE DOW closed HIGHER +9.39 points +0.08% on Monday November 15*
Sym. .........Last .......Change.......... 
Dow 11,201.97 +9.39 +0.08%  
Nasdaq 2,513.82 -4.39 -0.17% 
S&P 500 1,197.75 -1.46 -0.12%  
30-yr Bond 4.3730% +0.1050  

NYSE Volume 4,078,508,500  (prior day  4,899,339,000)
Nasdaq Volume 1,866,831,875  (prior day 2,209,054,000) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,820.41 +23.54 +0.41% 
DAX 6,790.17 +55.56 +0.82%  
CAC 40 3,864.24 -3.11 -0.08%  

*Australia/Asia*
Symbol ........... Last ....Change....... 
ASX All Ord 4,773.30 -5.50 -0.12% 
ASX 200 4,688.00 -4.70 -0.10%  
Shanghai Comp 3,014.41 +28.98 +0.97% 
Nikkei 225 9,827.51 +102.70 +1.06%  
Hang Seng 24,027.18 -195.40 -0.81% 
Straits Times 3,236.80 -15.20 -0.47% 

http://finance.yahoo.com/news/Stocks-finish-mixed-as-dollar-apf-2331792648.html?x=0

*Stocks finish mixed as dollar gains strength

Stocks pare early gains from spike in dealmaking as concerns in Europe push up the dollar *

David K. Randall, AP Business Writer, On Monday November 15, 2010, 5:11 pm

NEW YORK (AP) -- Stocks slumped to a mixed finish Monday as the dollar posted its second day of gains over concerns that Europe is on the edge of another bailout.

Investors believe that Ireland may seek help from its fellow members in the European Union as its economy sputters. The dollar also spiked in May when Europe bailed out Greece. Ireland's finances are under strain after the government bailed out five banks after the country's real estate boom collapsed.

The rising value of the dollar, which hurts U.S. exports, resulted in stocks paring their gains late in the day. Stocks had risen for most of the day following following a spike in corporate dealmaking and news that retail sales in October jumped to the highest level in seven months.

Consumer spending rose 1.2 percent last month thanks to higher demand for automobiles, the Commerce Department reported. The gain was nearly double what analysts were expecting. Shares of Ford Motor Co. rose 4.3 percent following the announcement.

Caterpillar Inc., the world's largest construction machinery maker, said it would buy mining equipment maker Bucyrus International Inc. for $7.6 billion in cash, a 32 percent premium over the company's closing price on Friday. Shares of Caterpillar rose 1 percent.

Data storage company EMC Corp. also announced that it had reached a deal to buy competitor Isilon Systems Inc. for $2.2 billion in cash. It is offering $33.85 per share, a 29 percent premium over its closing price on Friday.

The push for mergers and acquisitions is a good sign for investors, said Uri Landesman, the president of Platinum Partners, a hedge fund in New York City. "It's a statement that companies are moving out from under the bombshells of 2008 and 2009 and that they don't think there will be another disaster," he said.

Corporations are holding records amount of cash on their balance sheets. Using that cash to buy rivals or to expand into new areas could be a sign that companies are less concerned about the possibility that that economy will slide into another recession soon.

The Dow Jones industrial average rose 9.39, or 0.1 percent, to close at 11,201.97. It had been up as much as 88 points earlier.

The broader Standard & Poor's 500 index fell 1.46, or 0.1 percent, to 1,197.75, while the technology-focused Nasdaq composite index fell 4.39, or 0.2 percent, to 2,513.82.

Six out of the 10 industry groups within the S&P 500 index fell. Companies in the materials industry fell the most, down 0.9 percent. Financial companies posted the index's largest gains with a 0.4 rise. JP Morgan Chase gained 1.3 percent to become the top stock among the 30 companies that make up the Dow. Walt Disney's 1.3 fall made it the laggard.

In addition to Ireland's debt woes, investors are also worried about international pushback on the Federal Reserve's plan to buy $600 billion in Treasury bonds, which U.S. trading partners say will further weaken the dollar.

Yields for Treasury bonds rose for the third straight day, lifting interest rates to their highest level in four months. The 10 year Treasury bond's yield rose to 2.93 percent, the highest since before the Federal Reserve announced that it would spend $600 billion to buy bonds in an attempt to spur the economy.

The Fed's plan came under another round of criticism on Monday after economists, hedge fund investors and historians tied to Republicans called on the Fed to halt its effort. The group believes that the Fed's plan may result in rampant inflation and a weaker dollar.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks fell for a fourth day as concerns over a slowdown in China and talks about a bailout for Irish banks combined to push the Dow Jones industrial average to its lowest level in a month.

Asian markets started a global sell-off after South Korea's central bank raised interest rates to curb inflation. Shares also fell in Shanghai and Hong Kong as speculation spread that China will take more steps to rein in its red-hot economy, which would dampen global demand for industrial goods.

"The fact that China is taking actions to tighten things up over there is having a big ripple effect here," said Bruce Simon, the chief investment officer at Ballentine Partners.

The Dow Jones industrial average fell 178.47, or 1.6 percent, to 11,023.50, having dipped below 11,000 earlier in the day for the first time since Oct. 20.

*The NYSE DOW closed LOWER -178.47 ponts -1.59%  on Tuesday November 16*
Sym. .........Last .......Change.......... 
Dow 11,023.50 -178.47 -1.59% 
Nasdaq 2,469.84 -43.98 -1.75% 
S&P 500 1,178.34 -19.41 -1.62%  
30-yr Bond 0.3916% 0.0000 

NYSE Volume 6,067,964,500  (prior day 4,078,508,500)
Nasdaq Volume 2,259,247,750  (prior day 1,866,831,875) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,690.80 -129.61 -2.23% 
DAX 6,663.24 -126.93 -1.87% 
CAC 40 3,762.47 -104.88 -2.71%  

*Asia Pacific*
Symbol ........... Last ....Change....... 
ASX All Ord 4,782.80 +9.50 +0.20%  
Shanghai Comp 2,894.54 -119.87 -3.98% 
Taiwan We... 8,312.21 +71.56 +0.87% 
Nikkei 225 9,797.10 -30.41 -0.31% 
Hang Seng 23,699.87 -327.31 -1.36% 
Straits Times 3,213.50 -23.30 -0.72% 

http://sg.finance.yahoo.com/news/Stocks-sink-on-fears-of-Asia-apf-2395909032.html?x=0

*Stocks sink on Asian inflation, Euro debt fears

Stocks fall on worries about rate hikes in Asia, possible bailouts in Europe; Dow off 175 *

Stephen Bernard and David K. Randall, AP Business Writers, On Wednesday 17 November 2010, 5:49 

NEW YORK (AP) -- Stocks fell for a fourth day as concerns over a slowdown in China and talks about a bailout for Irish banks combined to push the Dow Jones industrial average to its lowest level in a month.

Asian markets started a global sell-off after South Korea's central bank raised interest rates to curb inflation. Shares also fell in Shanghai and Hong Kong as speculation spread that China will take more steps to rein in its red-hot economy, which would dampen global demand for industrial goods.

"The fact that China is taking actions to tighten things up over there is having a big ripple effect here," said Bruce Simon, the chief investment officer at Ballentine Partners.

The Dow Jones industrial average fell 178.47, or 1.6 percent, to 11,023.50, having dipped below 11,000 earlier in the day for the first time since Oct. 20.

The Standard & Poor's 500 index fell 19.41, or 1.6 percent, to 1,178.34, while the Nasdaq composite index fell 43.98, or 1.8 percent, to 2,469.84.

All 10 industry groups in the Standard and Poor's 500, the index followed by most professional money managers, fell. Companies in the materials and energy industries lost the most ground, each falling more than 2 percent.

While Asian countries are dealing with excessive economic growth and inflation, European finance ministers were concerned that Ireland would be the latest European country to need a bailout. The country has so far refused any outside financial assistance.

A fiscal crisis earlier this year in Greece resulted in a global swoon in stock prices as investors questioned the viability of Europe's shared currency, the euro. Greece was eventually bailed out in May by fellow European nations and the International Monetary Fund.

Ireland's situation is different from Greece's, but their respective debt crises are having similar effects on markets. As new doubts emerge about Europe's ability to keep its financial system sound, investors are abandoning the euro, flocking to the dollar, dumping risky assets like stocks and sending borrowing rates for countries they see as credit risks soaring.

The yield on 10-year Irish bonds rose to 8.25 percent from 7.94 percent late Monday. Yields rise as bond prices fall. Higher yields are a sign that investors are demanding more money for their willingness to take on the risk of lending to that country.

Greece fell into a fiscal crisis following runaway spending and a lack of trust from investors following revelations that the government had published faulty budget figures. Ireland, meanwhile, is staggering under the costs of nationalizing three banks after that country's real estate boom imploded.

"It's been simmering for a while," Scott Brown, chief economist at Raymond James & Associates, said of the European debt problems. "Now it's coming to a complete boil."

Brown said Ireland is more troublesome for Europe than Greece because more of Ireland's debt is held by major banks, especially in England. A default by Ireland could be another blow to banks that have only recently recovered from the global credit crisis. Shares of British banks HSBC and Barclays PLC both fell more than 3 percent.

There are also fears that if Ireland needs a bailout it will spook investors who hold debt from other European countries.

Ireland is a "precursor to Spain," said Quincy Krosby, a market strategist at Prudential Financial. "It's a precursor to Portugal" as well.

Basic materials companies, which have benefited from the booming demand from China, were among the biggest losers in U.S. trading. Freeport-McMoRan Copper & Gold Inc. fell 4.3 percent, Alcoa was off 2.8 percent, and Monsanto Co. was off 2.4 percent.

The dollar surged against the euro, approaching its highest level against the shared European currency since late September. The dollar also jumped 0.8 percent against an index that measures it against a group of six other currencies.

Treasury prices rose for the first time in three days, sending yields lower as investors sought out relatively safe assets. The yield on the 10-year note edged down to 2.86 percent from 2.95 percent.

Shares fell overseas as well. The Stoxx 50 index, which tracks blue chip companies in Europe, fell 2.5 percent, while Japan's Nikkei fell 0.3 percent. China's Shanghai composite index fell 4 percent.


----------



## bigdog

Source: http://finance.yahoo.com

 Stocks ended mixed Wednesday as concerns that Ireland will need outside help to repay its debts were coupled with a steep drop in housing construction in the U.S.

Global stock markets have been rattled over the past week out of fear that Ireland will become the latest European country to need a bailout. Greece was rescued in May after it became unable to contain runaway spending and lost the confidence of investors. Ireland is now struggling after a collapse in its housing market forced the country to take over three large banks.

Britain, which is not part of the 16-nation bloc that uses the euro, offered Wednesday to provide additional support to Ireland beyond what it gets from the European Union or the International Monetary Fund. That helped steady markets in Europe. The Euro Stoxx 50, which tracks blue chip companies within the euro zone, rose 0.5 percent.

*The NYSE DOW closed LOWER -15.62 points -0.14% on Wednesday November 17*
Sym. .........Last .......Change.......... 
Dow 11,007.88 -15.62 -0.14%  
Nasdaq 2,476.01 +6.17 +0.25% 
S&P 500 1,178.59 +0.25 +0.02%  
30-yr Bond 0.3916% 0.0000 

NYSE Volume 4,462,970,500  (prior day 6,067,964,500)
Nasdaq Volume 1,836,517,625  (prior day 2,259,247,750) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,692.56 +10.66 +0.19% 
DAX 6,700.07 +36.83 +0.55% 
CAC 40 3,792.35 +29.88 +0.79%  

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,705.10 -77.70 -1.62% 
Shanghai Comp 2,838.86 -55.68 -1.92% 
Taiwan We... 8,255.54 -56.67 -0.68% 
Nikkei 225 9,811.66 +14.56 +0.15% 
Hang Seng 23,214.46 -478.56 -2.02% 
Straits Times 3,212.10 -24.70 -0.76% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=9&asset=&ccode=

*Stocks end mixed after 4 days of losses

Stocks trade mixed as investors watch Ireland bailout talks; housing construction falls *

Stephen Bernard, AP Business Writer, On Wednesday November 17, 2010, 4:52 pm 

NEW YORK (AP) -- Stocks ended mixed Wednesday as concerns that Ireland will need outside help to repay its debts were coupled with a steep drop in housing construction in the U.S.

Global stock markets have been rattled over the past week out of fear that Ireland will become the latest European country to need a bailout. Greece was rescued in May after it became unable to contain runaway spending and lost the confidence of investors. Ireland is now struggling after a collapse in its housing market forced the country to take over three large banks.

Britain, which is not part of the 16-nation bloc that uses the euro, offered Wednesday to provide additional support to Ireland beyond what it gets from the European Union or the International Monetary Fund. That helped steady markets in Europe. The Euro Stoxx 50, which tracks blue chip companies within the euro zone, rose 0.5 percent.

Construction of new homes fell 11.7 percent in October, the Commerce Department reported. Construction of new apartments fell by more than 40 percent. Homebuilders including DH Horton Inc. and PulteGroup Inc. fell.

Retail stocks were among the few industries that posted gains. Target Corp.'s shares rose 3.9 percent after reporting earnings that beat analysts' forecasts. Competitors Costco Wholesale Corp., Macy's Inc. and J.C. Penny Co. each rose by 2 percent or more.

The Dow Jones industrial average fell 15.62, or 0.1 percent, to 11,007.88. The S&P 500 rose 0.25, or less than 0.1 percent, to 1,178.59. The technology-focused Nasdaq composite index rose 6.17, or 0.3 percent, to 2,476.01

Seven out of the 10 industry groups that make up the S&P 500 fell. Companies in the consumer discretionary, energy and healthcare businesses were the only groups to post gains. Financial companies fell the most, with a 0.6 percent drop.

McDonald's Corp gained 1.2 percent to become the top performing stock among the 30 companies that make up the Dow. Home Depot fell 2.8 percent as the index's laggard.

Bond prices traded in a tight range. The yield on the 10-year Treasury note, which moves opposite its price, rose to at 2.87 percent from 2.85 percent late Tuesday. Its yield is used as a benchmark for interest rates on mortgages and other consumer and corporate loans.

The dollar fell 0.2 percent against an index of six currencies.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks jump as worries over Ireland ease; GM pops

Stocks post big gains as hopes build for a resolution of Ireland's debt woes; GM bounds higher 

Stocks bounded higher Thursday thanks to a jump in manufacturing activity and growing confidence that Ireland will resolve its debt crisis.

Most eyes were glued on General Motors, an American icon which re-emerged from bankruptcy in the second-largest initial public offering in history. Its shares, trading under the ticker GM, rose 3.6 percent to $34.19.

The Dow Jones industrial average rose 173.35, or 1.6 percent, to close at 11,181.23. The Standard and Poor's 500 index rose 18.10, or 1.5 percent, to 1,196.69. The technology-focused Nasdaq composite index rose 38.39, or 1.6 percent, to close at 2,514.40.

Stocks got a boost from a surprisingly strong reading on manufacturing from the Federal Reserve Bank of Philadelphia. The report said factory orders in the mid-Atlantic region expanded at the fastest rate since December.

*The NYSE DOW closed HIGHER +173.35 point +1.57% on Thursday November 18*
Sym. .........Last .......Change.......... 
Dow 11,181.23 +173.35 +1.57% 
Nasdaq 2,514.40 +38.39 +1.55% 
S&P 500 1,196.69 +18.10 +1.54% 
30-yr Bond 4.2840% +0.0040  

NYSE Volume 5,365,773,500  (prior day 4,462,970,500)
Nasdaq Volume 2,083,029,875  (prior day 1,836,517,625)

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,768.71 +76.15 +1.34% 
DAX 6,832.11 +132.04 +1.97% 
CAC 40 3,867.97 +105.50 +2.80% 

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,722.80 +17.70 +0.38% 
Shanghai Comp 2,865.45 +26.59 +0.94% 
Taiwan We... 8,283.45 +27.91 +0.34% 
Nikkei 225 10,013.63 +201.97 +2.06% 
Hang Seng 23,637.39 +422.93 +1.82% 
Straits Times 3,215.22 +3.12 +0.10% 

http://sg.finance.yahoo.com/news/Stocks-jump-as-worries-over-apf-3217083080.html?x=0

*Stocks jump as worries over Ireland ease; GM pops

Stocks post big gains as hopes build for a resolution of Ireland's debt woes; GM bounds higher *

Stephen Bernard and David K. Randall, AP Business Writers, On Friday 19 November 2010, 5:59 

NEW YORK (AP) -- Stocks bounded higher Thursday thanks to a jump in manufacturing activity and growing confidence that Ireland will resolve its debt crisis.

Most eyes were glued on General Motors, an American icon which re-emerged from bankruptcy in the second-largest initial public offering in history. Its shares, trading under the ticker GM, rose 3.6 percent to $34.19.

The Dow Jones industrial average rose 173.35, or 1.6 percent, to close at 11,181.23. The Standard and Poor's 500 index rose 18.10, or 1.5 percent, to 1,196.69. The technology-focused Nasdaq composite index rose 38.39, or 1.6 percent, to close at 2,514.40.

Stocks got a boost from a surprisingly strong reading on manufacturing from the Federal Reserve Bank of Philadelphia. The report said factory orders in the mid-Atlantic region expanded at the fastest rate since December.

All ten industry groups within the S&P index rose, with industrial and materials stocks posting the largest gains. Alcoa Inc. jumped 3.4 percent, while General Electric Co. rose 1.5 percent and Caterpillar Inc. rose 2.4 percent.

All 30 stocks that make up the Dow rose except for Intel Corp. which edged down 0.3 percent. Sears Holdings Corp. sank 3.8 percent after reporting that its loss nearly doubled in the third quarter on weak sales.

Shares jumped in Europe after Ireland moved closer to accepting financial assistance from the European Union. Ireland has nationalized three of its six local banks following a collapse of the country's real estate market.

If it accepts outside help, Ireland will become the second European country to need a bailout this year. Greece came close to fiscal collapse in May and had to be rescued by other European countries and the International Monetary Fund. Fears that Greece's fiscal morass would undermine the euro and lead to bailouts of other European countries brought stock prices down around the world in May and early June.

Ireland is also expected to accept a loan worth tens of billions of euros from Great Britain. While Britain isn't one of the 16 nations that uses the euro, its banks have large holdings of Irish government debt and would face major losses if the country defaulted.

The Euro Stoxx 50 index, which tracks blue chip companies in the euro zone, gained 1.4 percent.

Bond prices retreated, pushing their yields higher. The yield on the 10-year Treasury note rose to 2.90 percent from 2.87 percent late Wednesday. The yield on the note, which is a widely used benchmark for consumer and business loans, traded as low at 2.49 percent on Nov. 4.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks post slight gains China raise bank reserves

Stocks eke out gains, one day after a big rally, as China raises bank reserve requirements 

Stocks posted slight gains Friday after China took more steps to curb inflation, which traders fear could slow down the country's growth.

China ordered its banks to hold more reserves, the second time it has done so in the past two weeks. The goal is to curb lending and avoid speculative bubbles. Inflation in China shot up to a more than two-year high last month. Investors also expect China to raise key interest rates as part of its effort to control inflation.

"As long as the Chinese government takes more restrictive actions, that's going to be somewhat of a roadblock for equities," said Alan Gayle, a senior investment strategist at RidgeWorth Investments.

*The NYSE DOW closed HIGHER +22.32 points +0.20% on Friday November 19*
Sym. .........Last .......Change.......... 
Dow 11,203.55 +22.32 +0.20% 
Nasdaq 2,518.12 +3.72 +0.15% 
S&P 500 1,199.73 +3.04 +0.25%  
30-yr Bond 0.3916% -3.8924  

NYSE Volume 3,921,869,500 (prior day 5,365,773,500)
Nasdaq Volume 1,850,938,625 (prior day 2,083,029,875) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,732.83 -35.88 -0.62%  
DAX 6,843.55 +11.44 +0.17%  
CAC 40 3,860.16 -7.81 -0.20% 


Asia Pacific
Symbol ........... Last ....Change.......
ASX All Ord 4,717.70 -5.10 -0.11%  
Shanghai Comp 2,888.57 +23.11 +0.81% 
Taiwan We... 8,306.12 +22.67 +0.27% 
Nikkei 225 10,022.39 +8.76 +0.09% 
Hang Seng 23,605.71 -31.68 -0.13% 
Straits Times 3,197.37 -17.85 -0.56% 

http://sg.finance.yahoo.com/news/Stocks-post-slight-gains-apf-2862681080.html?x=0

*Stocks post slight gains China raise bank reserves

Stocks eke out gains, one day after a big rally, as China raises bank reserve requirements *

Stephen Bernard, AP Business Writer, On Saturday 20 November 2010, 6:22 

NEW YORK (AP) -- Stocks posted slight gains Friday after China took more steps to curb inflation, which traders fear could slow down the country's growth.

China ordered its banks to hold more reserves, the second time it has done so in the past two weeks. The goal is to curb lending and avoid speculative bubbles. Inflation in China shot up to a more than two-year high last month. Investors also expect China to raise key interest rates as part of its effort to control inflation.

"As long as the Chinese government takes more restrictive actions, that's going to be somewhat of a roadblock for equities," said Alan Gayle, a senior investment strategist at RidgeWorth Investments.

The Dow Jones industrial average rose 22.32, or 0.2 percent, to 11,203.55.

The broader Standard & Poor's 500 index rose 3.04, or 0.3 percent, to 1,199.73. The technology-focused Nasdaq composite index rose 3.72, or 0.2 percent, to 2,518.12. The Nasdaq, which lost less than 0.1 percent, was the only major index to finish the week with a loss. The Dow and S&P 500 eked out weekly gains of less than 0.1 percent.

Eight of the 10 industry groups that make up the S&P 500 index rose. Materials companies posted the largest gains with a 0.7 percent rise. Utilities and financial companies fell.

Hewlett-Packard Co. rose 1.9 percent to lead the 30 stocks that make up the Dow. Boeing Co. was the laggard in the Dow with a decline of 1.0 percent.

The euro rose 0.3 percent to $1.36 against the dollar amid signs that Ireland was closer to agreeing to a bailout. Ireland's finances have been decimated after it nationalized three of its six banks following the collapse of a real estate boom.

Treasury prices were mixed. The yield on the 10-year Treasury note, which moves opposite its price, fell to 2.87 percent from 2.90 percent late Thursday.

The yield on the 10-year note is used as a benchmark to set interest rates for mortgages and other loans. Earlier this month, the Federal Reserve announced a plan to buy $600 billion in Treasurys to drive interest rates lower in an effort to encourage spending and lending.

Fed chairman Ben Bernanke defended the program in a speech Friday from critics who said the move would devalue the dollar and give American companies an advantage in global trade.

4848


----------



## bigdog

Source: http://finance.yahoo.com

Stocks pared their losses and ended narrowly mixed Monday amid anxiety over Europe's financial crisis and a widening probe into insider trading on Wall Street.

Bank shares slumped after the Federal Bureau of Investigation raided the offices of two hedge funds as part of a broad insider trading probe. Goldman Sachs Group Inc. sank 3.4 percent, while Bank of America Corp. fell 3.1 percent.

Retail and consumer goods stocks rose on hopes that shoppers will be in a spending mood when they turn up in stores the day after Thanksgiving as the holiday shopping season gets under way.

*The NYSE DOW closed LOWER -24.97 points -0.22% on Monday November 22*
Sym. .........Last .......Change.......... 
Dow 11,178.58 -24.97 -0.22%  
Nasdaq 2,532.02 +13.90 +0.55%  
S&P 500 1,197.84 -1.89 -0.16% 
30-yr Bond 4.2090% -0.0430  

NYSE Volume 4,305,755,500 (prior day 3,921,869,500)
Nasdaq Volume 1,872,093,875 (prior day 1,850,938,625)

*Europe*
Symbol.... ......Last .....Change.......  
FTSE 100 5,680.83 -52.00 -0.91% 
DAX 6,822.05 -21.50 -0.31% 
CAC 40 3,818.89 -41.27 -1.07% 

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,731.80 +14.10 +0.30%  
Shanghai Comp 2,884.37 -4.20 -0.15%  
Taiwan We... 8,374.91 +68.79 +0.83% 
Nikkei 225 10,115.19 +92.80 +0.93%  
Hang Seng 23,524.02 -81.69 -0.35% 
Straits Times 3,194.24 -3.13 -0.10% 

http://finance.yahoo.com/news/Stocks-mixed-as-Ireland-apf-1685475580.html?x=0

*Stocks mixed as Ireland bailout, FBI probe weigh

US stocks end mixed as banks weaken on worries over FBI hedge fund probe, Ireland bailout *

David K. Randall and Pallavi Gogoi, AP Business Writers, On Monday November 22, 2010, 5:09 pm 

NEW YORK (AP) -- Stocks pared their losses and ended narrowly mixed Monday amid anxiety over Europe's financial crisis and a widening probe into insider trading on Wall Street.

Bank shares slumped after the Federal Bureau of Investigation raided the offices of two hedge funds as part of a broad insider trading probe. Goldman Sachs Group Inc. sank 3.4 percent, while Bank of America Corp. fell 3.1 percent.

Retail and consumer goods stocks rose on hopes that shoppers will be in a spending mood when they turn up in stores the day after Thanksgiving as the holiday shopping season gets under way.

The Dow Jones industrial average fell 24.97 points, 0.2 percent, to 11,178.58. The Dow was down as much as 149 points earlier.

Bank stocks were already under pressure because of concerns over how the bailout of Ireland would affect their investment portfolios and their ability to increase dividends.

"As part of the Ireland bailout, banks will have to take a haircut," said Benjamin Wallace, securities analyst at Grimes & Co in Westborough, Mass. "All these issues bring into question whether banks are strong enough to pay out dividends next year, and whether the government will ask them to hold on to more capital for some more time."

Ireland formally asked for help from its neighbors Sunday following weeks of pressure from the European Union. While details of the package were still being worked out, Ireland's government slipped further into crisis Monday as a coalition partner of Prime Minister Brian Cowen threatened to abandon him.

It was the second time this year that the European Union has come to the rescue of one of the 16 countries that use the euro. In May, the EU and the IMF committed $140 billion to Greece to prevent the country from defaulting on its debt.

Investors took heart from signs that the holiday shopping season is off to a good start. A widely watched gauge of spending, MasterCard Advisors SpendingPulse, found apparel sales rose 9.7 percent in the first two weeks of November.

Online retailer Amazon.com Inc.'s shares were up 3.4 percent, and Apple Inc. rose 2.2 percent. Other technology shares also rose, pushing the Nasdaq composite index up 13.90, or 0.6 percent, to 2,532.02.

The Standard & Poor's 500 index fell 1.89, or 0.2 percent, to 1,197.84.

"Consumers make up 70 percent of the economy and there is a sense that they will start spending their increasing savings," said Steven Goldman, chief market strategist at Weeden & Co.

In another positive sign, computer and printer maker Hewlett-Packard Co. reported better than expected results and raised its profit forecast. It's stock was up 1.7 percent in after-hours trading.

Investors will sort through a full plate of economic data this week, but trading will be shortened by the Thanksgiving holiday on Thursday.

Reports set to be released Tuesday and Wednesday include October home sales, an update of consumer sentiment, and revisions to earlier estimates of the third-quarter gross domestic product.

Some economists expect that the latest reading on U.S. economic growth for the third quarter will be slightly higher that the previously estimated 2.0 percent increase.

Rising shares outpaced falling shares by a hair on the New York Stock Exchange. Volume was 918 million shares.


----------



## bigdog

Source: http://finance.yahoo.com

Korean conflict, European worries weigh on stocks
Stocks fall on concerns about Korean military conflict, European economy 

Stocks fell Tuesday as a flare-up of tensions between North and South Korea combined with downbeat news on the economy gave investors plenty of reasons to sell ahead of the Thanksgiving holiday. The dollar and gold rose as investors sought safe places to park money.

North Korea and South Korea exchanged artillery fire, killing at least two South Korean marines. That came as investors were already concerned that a bailout of Ireland may not be enough to contain Europe's debt crisis. Borrowing costs for Portugal and Spain rose, leading Spain to trim the size of a debt sale.

In the U.S., sales of previously-owned houses dipped 2.2 percent in October. Also, Federal Reserve officials became more pessimistic and lowered their outlook for economic growth for the next year.

*The NYSE DOW closed LOWER -142.21 points -1.27% on Tuesday November 23*
Sym. .........Last .......Change.......... 
Dow 11,036.37 -142.21 -1.27% 
Nasdaq 2,494.95 -37.07 -1.46% 
S&P 500 1,180.73 -17.11 -1.43%  
30-yr Bond 0.3916% 0.0000 

NYSE Volume 4,711,546,000 (prior day 4,305,755,500)
Nasdaq Volume 1,916,609,750 (prior day  1,872,093,875) 

*Europe*
Symbol.... ......Last .....Change.......  
FTSE 100 5,581.28 -99.55 -1.75% 
DAX 6,705.00 -117.05 -1.72% 
CAC 40 3,724.42 -94.47 -2.47% 

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,676.90 -54.90 -1.16% 
Shanghai Comp 2,828.28 -56.09 -1.94% 
Taiwan We... 8,328.63 -46.28 -0.55% 
Nikkei 225 10,115.19 +92.80 +0.93% 
Hang Seng 22,896.14 -627.88 -2.67% 
Straits Times 3,131.32 -59.60 -1.87%

http://finance.yahoo.com/news/Korean-conflict-European-apf-1448671180.html?x=0

*Korean conflict, European worries weigh on stocks

Stocks fall on concerns about Korean military conflict, European economy *

Matthew Craft and Pallavi Gogoi, AP Business Writers, On Tuesday November 23, 2010, 4:48 pm 

NEW YORK (AP) -- Stocks fell Tuesday as a flare-up of tensions between North and South Korea combined with downbeat news on the economy gave investors plenty of reasons to sell ahead of the Thanksgiving holiday. The dollar and gold rose as investors sought safe places to park money.

North Korea and South Korea exchanged artillery fire, killing at least two South Korean marines. That came as investors were already concerned that a bailout of Ireland may not be enough to contain Europe's debt crisis. Borrowing costs for Portugal and Spain rose, leading Spain to trim the size of a debt sale.

In the U.S., sales of previously-owned houses dipped 2.2 percent in October. Also, Federal Reserve officials became more pessimistic and lowered their outlook for economic growth for the next year.

The Dow Jones industrial average fell 142.21, or 1.3 percent, to 11,036.37.

The Standard & Poor's 500 lost 17.11, or 1.4 percent, to 1,180.73. The Nasdaq composite index fell 37.07, or 1.5 percent, to 2,494.95

The clash between North and South Korea was one of the most dramatic between the two rivals since the end of the Korean war. Fifteen South Korean soldiers and three civilians were injured in the artillery exchanges.

The escalating tensions came shortly after the reclusive North Korean regime claimed to have a new uranium enrichment facility and six weeks after the country's leader Kim Jong Il anointed his youngest son as his heir apparent.

The showdown between the two countries raises tensions in Asia, but was seen as less of an immediate danger in the U.S. Traders said the showdown was seen by many as an excuse to pare back exposure to risk ahead of the Thanksgiving holiday Thursday. Trading is expected to be light Wednesday as people leave early. Markets will be open for an abbreviated session on Friday.

"Investors don't want to go into the holiday with any lingering doubts," said John Derrick, director of research for U.S. Global Investors. "The tensions in Korea just gave them another excuse to sell."

Hewlett-Packard Co. was the only one among the 30 stocks that make up the Dow Jones industrial average to rise. Shares gained 2.2 percent after the technology company beat Wall Street's expectations for revenue and income thanks to strong corporate spending.

Energy shares led the decline as the price of crude oil fell. Chevron Corp. fell 2 percent, while ExxonMobil Corp. lost 1.7 percent.

A widening probe into insider trading was still weighing on financial shares Tuesday, a day after FBI agents raided the offices of three hedge funds. JPMorgan Chase & Co. was the worst-performing major bank with a 2.3 percent decline, followed closely by Goldman Sachs Group Inc. with a 2 percent fall.

In other gloomy news on the economy, the Federal Reserve lowered its forecast for growth through next year. In a report releasing minutes from its last meeting Nov. 3, the Fed predicted that the economy will grow only 2.4 percent to 2.5 percent this year. That's down sharply from a previous projection of 3 percent to 3.5 percent. Next year, the economy will expand by 3 percent to 3.6 percent, the Fed said, also much lower than its June forecast.

The darker view helps explain why the Fed decided at its meeting earlier this month to launch another round of stimulus. The central bank plans to buy $600 billion in Treasury bonds over the next eight months in an effort to lower interest rates and spur more spending.

Treasury prices rose, sending their yields lower. The yield on the 10-year Treasury slipped to 2.79 percent, down from 2.80 percent late Monday. That rate is a widely used benchmark for business and consumer loans including mortgages.

The dollar rose 1.3 percent against an index of six other currencies and the euro fell 1.8 percent against the dollar. Gold rose 1.5 percent to $1,377.60 an ounce.

The VIX, a measure of volatility in U.S. stock prices, jumped 14 percent to 21. The index had been steadily falling since May 20 when it went as high as 45, its highest level of the year.

Among gainers was retailer J. Crew Group Inc., which is being taken private in a $3 billion deal with two investment firms. Shares rose $6.34, or 17 percent, to $43.99.

Wednesday will bring an unusually large amount of economic data since several reports that normally come out Thursday are being moved up because of the holiday. Reports are due out on weekly claims for unemployment benefits, durable goods and personal income.

Falling shares outpaced rising shares by four to one on the New York Stock Exchange. Volume was 1 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

*Wall Street was closed for the Thanksgiving holiday Thursday November 25*

Stock exchanges of countries at the forefront of investor concerns over Europe's debt crisis closed lower Thursday, on a day when trading activity was light as Wall Street was closed for the Thanksgiving holiday.

Ireland's ISEQ fell 1.2 percent, Spain's IBEX dropped 0.3 percent and Portugal's PSI-20 ended 0.4 percent lower. Greece's ASE composite index ended 0.7 percent lower, too.

Europe's healthier economies saw their markets advance.

The FTSE 100 index of leading British shares closed up 41.83 points, or 0.7 percent, at 5,698.93, while Germany's DAX rose 55.86 points, or 0.8 percent, to 6,879.66. The CAC-40 in France ended 12.81 points, or 0.4 percent, lower at 3,760.42.


*The NYSE DOW -- Wall Street was closed for the Thanksgiving holiday on Thursday November 25*
Sym. .........Last .......Change.......... 
Dow 11,036.37  
Nasdaq 2,494.95 
S&P 500 1,180.73 
30-yr Bond 0.3916% 

NYSE Volume 4,711,546,000 
Nasdaq Volume 1,916,609,750 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,703.77 +46.67 +0.82%
DAX 6,879.66 +174.66 +2.60% 
CAC 40 3,760.42 +36.00 +0.97%  

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,683.30 +10.10 +0.22% 
Shanghai Comp 2,898.26 +38.33 +1.34% 
Taiwan We... 8,349.99 +52.94 +0.64% 
Nikkei 225 10,079.76 +49.65 +0.50%  
Hang Seng 23,054.68 +30.82 +0.13% 
Straits Times 3,159.23 +22.22 +0.71% 

http://finance.yahoo.com/news/Europ...3.html?x=0&sec=topStories&pos=2&asset=&ccode=

*European markets diverge on debt crisis concerns

European markets diverge on debt crisis concerns; Spain, Ireland, Portugal drop *

Pan Pylas, AP Business Writer, On Thursday November 25, 2010, 12:39 pm EST 

LONDON (AP) -- Stock exchanges of countries at the forefront of investor concerns over Europe's debt crisis closed lower Thursday, on a day when trading activity was light as Wall Street was closed for the Thanksgiving holiday.

Ireland's ISEQ fell 1.2 percent, Spain's IBEX dropped 0.3 percent and Portugal's PSI-20 ended 0.4 percent lower. Greece's ASE composite index ended 0.7 percent lower, too.

Europe's healthier economies saw their markets advance.

The FTSE 100 index of leading British shares closed up 41.83 points, or 0.7 percent, at 5,698.93, while Germany's DAX rose 55.86 points, or 0.8 percent, to 6,879.66. The CAC-40 in France ended 12.81 points, or 0.4 percent, lower at 3,760.42.

But those gains in Europe were mainly consigned to countries not considered to be at threat from bond market investors.

In Ireland, banking stocks continued to drop amid mounting expectations that they will be fully nationalized during the country's impending bailout.

The Irish government confirmed last weekend that it was asking for a financial lifeline from its partners in Europe and the International Monetary Fund and on Wednesday outlined another euro15 billion worth of austerity measures in order to get the cash. However, it's not going to be easy, as the political situation in the country remain turbulent.

On Tuesday, Ireland's premier, Brian Cowen, bowed to the inevitable and confirmed that the country will be going to the polls early next year if the 2011 budget, scheduled for Dec. 7, is passed.

"Complicating matters further, the leading opposition party signaled that they will re-examine any IMF-EU deal, if they come to power in an early 2011 general election," said Carl Campus, an analyst at BMO Capital Markets.

The bigger worry in the markets, though, is whether the debt crisis, which also has seen Greece get its own euro110 billion bailout, will claim any more casualties.

Investors are getting twitchy that Portugal, or more dangerously, Spain will be next, hence the under performance of their stock markets Thursday.

"Reports are beginning to surface that Spain may be next, ahead of Portugal, when it comes to a market focal point," said Will Hedden, sales trader at IG Index.

The prevailing view in the markets is that Europe may be able to support Portugal but that a bailout of Spain would be one step too far and that the euro project itself could be in jeopardy. Spain accounts for around 10 percent of the eurozone economy, in contrast with the other three countries, which account for around 2 percent each.

Those worries remained evident in the bond markets. The yield on Spain's 10-year bonds was up another 0.1 percent at 5.17 percent, while Portugal's was steady at 7 percent.

While the exchanges in the so-called peripheral countries were depressed, Europe's major indexes in London, Frankfurt and Paris continued to rally following Wall Street's strong close Wednesday following generally upbeat U.S. economic data -- not least the news that weekly jobless claims fell last week to their lowest level since July 2008.

The U.S. data stoked hopes that the economy actually may be picking up pace and that the overall unemployment rate -- a key concern for both the Obama administration and the Federal Reserve -- could be heading downward soon.

Getting the unemployment rate down from near 10 percent is one of the main reasons why the Fed decided earlier this month to pump another $600 billion into the U.S. economy over the coming months. Preventing prices from actually falling is the other key tenet of the controversial policy.

The euro failed to garner as much support from the improvement in risk appetite it would normally get, given the concerns about Ireland, Portugal and Spain.

A rise in risk appetite would normally give the euro a boost against the dollar. When investors have a greater interest in riskier investments, stocks usually get a boost, while the dollar loses some of its safe haven shine.

By late afternoon London time, the euro was up 0.3 percent on the day at $1.3365.

That's a healthy rebound from Wednesday's two-month low of $1.3282, but the single currency remains five cents down from Monday's peak of $1.3786.

Earlier, Asian markets ended mostly higher earlier.

Japan's Nikkei 225 stock average rose 0.5 percent to 10,079.76, while Hong Kong's Hang Seng index added 0.1 percent to 23,054.68. South Korea's Kospi index gained 0.1 percent to 1,927.68. Australia's S&P/ASX was up 0.2 percent at 4,593.4.

Chinese shares closed higher on Thursday, tracking overseas gains, buoyed by property and oil refiners. The benchmark Shanghai Composite Index gained 1.3 percent to 2,898.26 while the Shenzhen Composite Index for China's smaller, second exchange edged 0.3 percent higher to 1,337.83.

Benchmark oil for January delivery was up 64 cents to $84.50 a barrel in electronic trading on the New York Mercantile Exchange.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks ended the week mixed. The Dow ended 112 points lower, and the Standard & Poor's 500 index lost 10. However, the technology-heavy Nasdaq composite index gained 17 points for the week

Europe's troubles, Korean conflict weigh on stocks in post-Thanksgiving session 

Stocks sank during Friday's shortened session as jittery traders were afraid to commit to any holdings ahead of the weekend amid lingering uncertainty surrounding Europe's debt troubles and North Korea's war threats.

European stock markets and the euro fell as worries mounted that Portugal will be the next country to need cash from other European Union countries, even as details of Ireland's bailout were being worked out.

On Friday, Portugal adopted a raft of debt-reducing austerity measures, which the government claimed would be enough to restore market confidence in its public finances without resorting to a bailout.

However, that didn't soothe traders who are also nervously eyeing North Korea's threat of war, which could destabilize its neighboring Asian nations. North Korea warned Friday that plans by South Korea and the U.S. to stage military maneuvers have put the Korean peninsula on the brink of war. North Korea fired artillery shells at a South Korean island on Tuesday, killing four people.

*The NYSE DOW NYSE DOW closed LOWER -95.28 points -0.85% on Friday November 26*
Sym. .........Last .......Change..........  
Dow 11,092.00 -95.28 -0.85% 
Nasdaq 2,534.56 -8.56 -0.34% 
S&P 500 1,189.40 -8.95 -0.75% 
30-yr Bond 4.2070% -0.0890  

NYSE Volume 1,788,429,875 
Nasdaq Volume 628,409,938 

*Europe*
Symbol.... ......Last .....Change.......  
FTSE 100 5,668.70 -30.23 -0.53% 
DAX 6,848.98 -30.68 -0.45% 
CAC 40 3,728.65 -31.77 -0.84% 

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,690.20 +6.90 +0.15%  
Shanghai Comp 2,871.70 -26.56 -0.92% 
Taiwan We... 8,312.15 -37.84 -0.45
Nikkei 225 10,039.56 -40.20 -0.40% 
Hang Seng 22,877.25 -177.43 -0.77%  
Straits Times 3,159.37 +0.14 +0.00% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks slide on worries over Korea, European debt

Europe's troubles, Korean conflict weigh on stocks in post-Thanksgiving session* 

Matthew Craft and Pallavi Gogoi, AP Business Writers, On Friday November 26, 2010, 3:18 pm EST 

NEW YORK (AP) -- Stocks sank during Friday's shortened session as jittery traders were afraid to commit to any holdings ahead of the weekend amid lingering uncertainty surrounding Europe's debt troubles and North Korea's war threats.

European stock markets and the euro fell as worries mounted that Portugal will be the next country to need cash from other European Union countries, even as details of Ireland's bailout were being worked out.

On Friday, Portugal adopted a raft of debt-reducing austerity measures, which the government claimed would be enough to restore market confidence in its public finances without resorting to a bailout.

However, that didn't soothe traders who are also nervously eyeing North Korea's threat of war, which could destabilize its neighboring Asian nations. North Korea warned Friday that plans by South Korea and the U.S. to stage military maneuvers have put the Korean peninsula on the brink of war. North Korea fired artillery shells at a South Korean island on Tuesday, killing four people.

The Dow Jones industrial average fell 95.28, or 0.9 percent, to 11,092. The S&P 500 index was down 8.95, or 0.8 percent, to 1,189.40. The Nasdaq composite index fell 8.56, or 0.3 percent, to 2,534.56.

"Until there's final resolution of both Spain and Portugal investors will continue to be fearful," said John O'Donoghue, co-head of equities at Cowen & Co.

The 16-nation euro fell to $1.3244 in midday trading Friday from $1.3368 late Thursday, earlier dipping below $1.32 for the first time since Sept. 21. The Euro Stoxx 50, which tracks the shares of blue chip companies in countries that use the euro, slipped 0.7 percent.

Consolidated volume on the New York Stock Exchange was 1.5 billion, which was just about a third of the usual volume. Trading desks were thinly staffed on the day after Thanksgiving. Falling shares outpaced rising ones by two to one on the New York Stock Exchange. U.S. stock markets closed at 1 p.m. EST Friday instead of the usual 4 p.m. Markets were closed on Thursday for the holiday.

Friday also marks the unofficial start of the holiday shopping season. Black Friday, a crucial event for retailers, was off to a strong start, according to early reports.

Many stores pushed more exclusive deals online on Thursday in a bid to rope in shoppers before Black Friday. It apparently worked. According to IBM's Coremetrics, online sales soared 33 percent on the holiday compared with Thanksgiving 2009.

Sales during the Thanksgiving weekend made up 12.3 percent of all holiday revenue last year, according to research firm ShopperTrak. Black Friday accounted for half of that.

Macy's Inc. shares were up 11 cents to $26.

It was the end of a rollercoaster week. Stocks fell on Tuesday after North Korea's shelling, but surged on Wednesday after a batch of economic reports buoyed hopes that the U.S. economic recovery was gaining strength. The reports showed that Americans' income rose and consumer spending climbed in October. And fewer people filed first-time claims for unemployment benefits last week.

Overall, stocks ended the week mixed. The Dow ended 112 points lower, and the Standard & Poor's 500 index lost 10. However, the technology-heavy Nasdaq composite index gained 17 points for the week.

5288


----------



## bigdog

Source: http://finance.yahoo.com

Stocks mostly recover from early stumble as Ireland bailout fails to stem fears of contagion

Stocks ended lower Monday on lingering fears that Europe's debt crisis will continue to spread even after Ireland gets bailed out. The Dow Jones industrial average dipped below 11,000 but recovered much of its losses late in the day.

The euro fell to a two-month low as investors flocked to the safety of the dollar and U.S. Treasurys. Gold prices also rose.

Investors are worried that other weak European countries like Portugal and Spain will still need help even after the $90 billion bailout package for Ireland announced on Sunday.

*The NYSE DOW NYSE DOW closed LOWER -39.51 points -0.36% on Monday November 29*
Sym. .........Last .......Change..........  
Dow 11,052.49 -39.51 -0.36% 
Nasdaq 2,525.22 -9.34 -0.37% 
S&P 500 1,187.76 -1.64 -0.14% 
30-yr Bond 4.1480% -0.0590  

NYSE Volume 4,207,444,500 
Nasdaq Volume 1,689,825,125 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,569.73 -98.97 -1.75% 
DAX 6,697.97 -151.01 -2.20% 
CAC 40 3,636.96 -91.69 -2.46%  

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,706.70 +16.50 +0.35%  
Shanghai Comp 2,866.36 -5.34 -0.19%  
Taiwan We... 8,367.17 +55.02 +0.66% 
Nikkei 225 10,125.99 +86.43 +0.86% 
Hang Seng 23,166.22 +288.97 +1.26% 
Straits Times 3,166.80 +8.72 +0.28% 

http://nz.finance.yahoo.com/news/Stocks-end-off-their-lows-apf-783212264.html?x=0

*Stocks end off their lows, weighed down by Europe

Stocks mostly recover from early stumble as Ireland bailout fails to stem fears of contagion  *

Chip Cutter and Pallavi Gogoi, AP Business Writers, On Tuesday 30 November 2010, 10:57 

NEW YORK (AP) -- Stocks ended lower Monday on lingering fears that Europe's debt crisis will continue to spread even after Ireland gets bailed out. The Dow Jones industrial average dipped below 11,000 but recovered much of its losses late in the day.

The euro fell to a two-month low as investors flocked to the safety of the dollar and U.S. Treasurys. Gold prices also rose.

Investors are worried that other weak European countries like Portugal and Spain will still need help even after the $90 billion bailout package for Ireland announced on Sunday.

Some of those worries faded late in the day as traders shifted their focus to positive economic news. The Federal Reserve Banks of Dallas and Chicago both reported higher manufacturing activity in their areas.

"The fundamentals are improving and there are several indications that the economy is picking up a little bit of steam here," said Peter Cardillo, chief market economist at Avalon Partners, a New York brokerage house. "There's a slew of numbers that are coming out later this week and the market is preparing for that."

The Dow Jones industrial average fell 39.51 points, or 0.4 percent, to close at 11,052.49. It had been down as many as 163 earlier.

The Standard & Poor's 500 index edged down 1.64, or 0.1 percent, to 1,187.76. The technology-heavy Nasdaq composite index dropped 9.34, or 0.4 percent, to 2,525.22.

Holiday retail sales also got off to a good start in the post-Thanksgiving weekend. The National Retail Federation, a trade group, estimated that 212 million shoppers visited stores and websites during the first weekend of the holiday season, up from 195 million last year.

Online spending rose more than 14 percent from Thanksgiving Day through Saturday, according to IBM's Coremetrics. Shares of online retailer Amazon.com rose 1.3 percent on expectations that shoppers were returning on what is known as "Cyber Monday," when retailers offer deals to lure people to buy items online while at work.

A fuller picture on spending will come Thursday when retailers report November sales. Investors have been hoping that consumers, who have generally been spending cautiously since the recession, would feel more comfortable about shopping during the holidays.

Bank stocks were some of the best performers. Wells Fargo & Co. rose 2 percent, Bank of America Corp. was up 1.7 percent, while JPMorgan Chase & Co. rose 1.7 percent.

Dick Bove, a banking analyst at Rochdale Securities, said investors realized that some U.S. banks had little exposure to European debt issues. He added that if European banks are subject to more stringent capital requirements, U.S. banks could benefit.

"When people sit down and think about the situation in Europe, it is clear that the American banks emerge in a much stronger position," he said.

In corporate news, Wal-Mart Stores Inc. rose 0.2 percent, after the company said it is buying a 51 percent stake in South African retailer Massmart. The transaction, worth about $2 billion, will cost Wal-Mart $20.71 per share. It gives the retailer access to the growing South African economy.

Oil prices rose $1.97 to $85.73 a barrel. Gold for February delivery rose $3.20, or 0.3 percent, to $1,367.50 an ounce.

The dollar rose 0.4 percent against an index of six other currencies.

Bond prices rose as investors shifted money out of riskier assets like stocks and commodities and into defensive investments. The yield on the 10-year Treasury note, which moves opposite its price, fell to 2.83 percent Monday from 2.87 percent Friday.

Investors were also cautious as they awaited the week's economic reports, including the government's monthly employment report due out on Friday. Also due this week are the Conference Board's survey of consumer confidence on Tuesday, and the Institute for Supply Management's assessments of the manufacturing and services industries.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks trim their losses after Obama, lawmakers vow to compromise on Bush-era tax cuts 

Stocks ended November on a down note Tuesday, notching their first monthly losses since August.

The Dow Jones industrial average lost 46 points. It had been down as many as 110 points earlier in the day. The index pared most of its losses after President Barack Obama and Republican lawmakers promised to seek a compromise before the end of the year on extending Bush-era tax cuts.

Extending the cuts would motivate investors to hold stocks since they wouldn't be subject to higher capital gains taxes next year. It would also encourage companies to continue paying dividends, which are taxed at a more favorable rate.

The Dow ended November with a loss of 1 percent. It had rallied through September and October on hopes that a bond-buying program by the Federal Reserve would boost the economy.

*The NYSE DOW NYSE DOW closed LOWER -46.47 points -0.42% on Tuesday November 30*
Sym. .........Last .......Change.......... 
Dow 11,006.02 -46.47 -0.42% 
Nasdaq 2,498.23 -26.99 -1.07% 
S&P 500 1,180.55 -7.21 -0.61% 
30-yr Bond 4.1020% -0.0460  

NYSE Volume 5,402,285,500 (prior day 4,207,444,500)
Nasdaq Volume 2,416,745,500 (prior day 1,689,825,125)

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,528.27 -22.68 -0.41% 
DAX 6,688.49 -9.48 -0.14% 
CAC 40 3,610.44 -26.52 -0.73% 

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,676.40 -30.30 -0.64% 
Shanghai Comp 2,820.18 -46.17 -1.61%  
Taiwan We... 8,372.48 +5.31 +0.06%  
Nikkei 225 9,937.04 -188.95 -1.87% 
Hang Seng 23,007.99 -158.23 -0.68% 
Straits Times 3,144.70 -13.51 -0.43% 

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks pare losses on optimism over tax cuts

Stocks trim their losses after Obama, lawmakers vow to compromise on Bush-era tax cuts *

Chip Cutter and David K. Randall, AP Business Writers, On Tuesday November 30, 2010, 5:41 pm 

NEW YORK (AP) -- Stocks ended November on a down note Tuesday, notching their first monthly losses since August.

The Dow Jones industrial average lost 46 points. It had been down as many as 110 points earlier in the day. The index pared most of its losses after President Barack Obama and Republican lawmakers promised to seek a compromise before the end of the year on extending Bush-era tax cuts.

Extending the cuts would motivate investors to hold stocks since they wouldn't be subject to higher capital gains taxes next year. It would also encourage companies to continue paying dividends, which are taxed at a more favorable rate.

The Dow ended November with a loss of 1 percent. It had rallied through September and October on hopes that a bond-buying program by the Federal Reserve would boost the economy.

The Dow reached its highest point of the year on Nov. 5, two days after the Fed announced its $600 billion economic stimulus plan. Stocks have fallen since then on worries about Europe's debt troubles. Ireland on Sunday became the second European country after Greece to require a bailout this year.

The euro briefly fell below $1.30 for the first time since mid-September after investors sold off government bonds from Spain, Portugal and Italy. The bailout of Ireland's banks hasn't been enough to assuage worries that other weak European countries will also need to be rescued.

John Briggs, a fixed income analyst at RBS, said the concerns about weak members of the euro zone are spreading faster than governments can react.

"It's becoming more of a system-wide issue and the currency decline continues to accelerate day after day," he said. "Until we get some kind of systemic response, it's likely to continue."

The Dow Jones industrial average fell 46.47, or 0.4 percent, to close at 11,006.02.

The Standard & Poor's 500 index fell 7.21 or 0.6 percent, to 1,180.55. The Nasdaq composite index dropped 26.99, or 1.1 percent, to 2,498.23.

The S&P 500 fell 0.2 percent in November, the Nasdaq 0.4 percent.

Economic reports Tuesday did not present a clear picture of where the economy was headed. The Standard & Poor's S&P/Case-Shiller index showed that home prices are falling faster in the nation's largest cities. However, the Conference Board said its index of consumer confidence jumped to a five-month high in November.

The dollar rose 0.6 percent against an index of six other heavily traded currencies.

Bond prices rose, pushing their yields lower. The yield on the 10-year Treasury note fell to 2.79 percent from 2.83 percent Monday.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks started December with a jump. The Dow Jones industrial average rose 249 points, its biggest gain since Sept. 1.

An encouraging employment report and hopes that Europe's debt crisis may ease boosted major indexes on Wednesday, erasing nearly two weeks of losses. Bond prices and the dollar fell as investors moved money into riskier assets.

Signs that the U.S. job market thawed in November jumpstarted the gains. ADP Employer Services, a payroll company, said small businesses added the largest amount of workers in three years last month, well ahead of what analysts had forecast.

"The U.S. economy is all about jobs and anything that leads folks to believe that there's a better job market will be good for equities," said Paul Zemsky, the head of asset allocation at ING Investment Management.

*The NYSE DOW NYSE DOW closed HIGHER +249.76 points +2.27% on Wednesday December 1*
Sym. .........Last .......Change.......... 
Dow 11,255.78 +249.76 +2.27% 
Nasdaq 2,549.43 +51.20 +2.05% 
S&P 500 1,206.07 +19.47 +1.64% 
30-yr Bond 4.2370% +0.1350  

NYSE Volume 5,208,028,500  (prior day 5,402,285,500)
Nasdaq Volume 2,120,701,500  (prior day 2,416,745,500) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,642.50 +114.23 +2.07% 
DAX 6,866.63 +178.14 +2.66% 
CAC 40 3,663.75 +26.79 +0.74%  

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,676.80 +0.40 +0.01% 
Shanghai Comp 2,823.45 +3.27 +0.12% 
Taiwan We... 8,520.11 +147.63 +1.76% 
Nikkei 225 9,988.05 +51.01 +0.51% 
Hang Seng 23,249.80 +241.81 +1.05% 
Straits Times 3,181.94 +37.24 +1.18%  

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks rise sharply on signs of economic growth

Stocks soar on US job growth, global manufacturing expansion; Dow up 249 *

David K. Randall, AP Business Writer, On Wednesday December 1, 2010, 4:57 pm 

NEW YORK (AP) -- Stocks started December with a jump. The Dow Jones industrial average rose 249 points, its biggest gain since Sept. 1.

An encouraging employment report and hopes that Europe's debt crisis may ease boosted major indexes on Wednesday, erasing nearly two weeks of losses. Bond prices and the dollar fell as investors moved money into riskier assets.

Signs that the U.S. job market thawed in November jumpstarted the gains. ADP Employer Services, a payroll company, said small businesses added the largest amount of workers in three years last month, well ahead of what analysts had forecast.

"The U.S. economy is all about jobs and anything that leads folks to believe that there's a better job market will be good for equities," said Paul Zemsky, the head of asset allocation at ING Investment Management.

Greg Walker, a global investment strategist at J.P. Morgan Private Bank, said the ADP report gave traders confidence that the overall U.S. employment rate will fall. The Labor Department will release the November unemployment rate on Friday morning.

More encouraging news followed throughout the day. The Institute of Supply Management said its index of manufacturing activity rose in November for the 16th month. The Federal Reserve then said the U.S. economy improved in 10 of the Fed's 12 regions. Only the Philadelphia and St. Louis regions reported mixed economic conditions.

The Dow Jones industrial average rose 249.76, or 2.3 percent, to 11,255.78. The Dow's jump was big, but didn't rank among the top five point gains this year. The Dow had its largest gain on May 10, when it soared 404 points.

The Standard & Poor's 500 index rose 25.52, or 2.2 percent, to 1,206.07. The Nasdaq composite rose 51.20, or 2.1 percent, to 2,549.43.

All 10 industry groups that make up the S&P 500 index were higher, led by energy, industrial and technology companies. And all 30 stocks in the Dow index rose, led by Home Depot Inc., whose shares rose 4.6 percent. United Technologies rose 4 percent and Alcoa Inc. 3.4 percent.

Rising stocks outpaced falling ones by four to one on the New York Stock Exchange. Volume was 1.1 billion shares.

Bond prices fell sharply, pushing their yields higher. The yield on the 10-year Treasury bond rose to 2.97 percent from 2.80 percent late Tuesday. That yield is a widely used benchmark for loans including mortgages.

European stocks got a boost after European Central Bank President Jean-Claude Trichet suggested that the bank could buy bonds issued by countries within the European Union. That, along with a better-than-expected bond auction by Portugal, pushed the euro higher. The Euro Stoxx 50, which tracks blue chip companies in Europe, rose 2 percent.

Stocks rose in Asia on signals that the Chinese economy is growing. A Chinese state index of manufacturing activity indicated that the country's economy expanded for the 21st straight month. A competing Chinese survey by HSBC rose to an eight-month high.

Hong Kong's Hang Seng rose 1.1 percent. China's benchmark Shanghai Composite Index rose 0.1 percent. Stocks have fallen in Asia since early November after China raised a key interest rate to combat inflation.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks extend their gains after retailers report strong holiday sales; Dow up 106 

Strong retail sales and a healthy reading on the housing market helped stocks start December with a two-day winning streak.

The Dow Jones industrial average rose 106 points. Combined with a 249-point gain Wednesday, the Dow has had its best two-day run since July 7-8.

Major retailers reported sales in November that were stronger than analysts expected. Increased spending during the holiday season would be a strong signal that consumers are feeling more confident.

*The NYSE DOW NYSE DOW closed HIGHER  +106.63 points +0.95% on Thursday December 2*
Sym. .........Last .......Change..........  
Dow 11,362.41 +106.63 +0.95% 
Nasdaq 2,579.35 +29.92 +1.17% 
S&P 500 1,221.53 +15.46 +1.28% 
30-yr Bond 4.2660% +0.0290 

NYSE Volume 5,584,217,500 (prior day 5,208,028,500) 
Nasdaq Volume 2,053,117,000 (prior day 2,120,701,500) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,767.56 +125.06 +2.22% 
DAX 6,957.61 +90.98 +1.32% 
CAC 40 3,747.04 +77.75 +2.12%  

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,761.80 +85.00 +1.82% 
Shanghai Comp 2,843.61 +20.16 +0.71% 
Taiwan We... 8,585.77 +65.66 +0.77% 
Nikkei 225 10,168.52 +180.47 +1.81% 
Hang Seng 23,448.78 +198.98 +0.86% 
Straits Times 3,197.96 +16.02 +0.50%  

http://finance.yahoo.com/news/Jump-in-holiday-retail-sales-apf-1549231488.html?x=0

*Jump in holiday retail sales pushes stocks higher

Stocks extend their gains after retailers report strong holiday sales; Dow up 106 *

David K. Randall, AP Business Writer, On Thursday December 2, 2010, 5:38 pm EST 

NEW YORK (AP) -- Strong retail sales and a healthy reading on the housing market helped stocks start December with a two-day winning streak.

The Dow Jones industrial average rose 106 points. Combined with a 249-point gain Wednesday, the Dow has had its best two-day run since July 7-8.

Major retailers reported sales in November that were stronger than analysts expected. Increased spending during the holiday season would be a strong signal that consumers are feeling more confident.

"Any sign that the consumer is doing better means that the economy will be doing better," said Drew Matus, a senior economist at UBS.

Costco Wholesale Corp., Target Corp. and Limited Brands Inc. all beat Wall Street sales forecasts. Teen retailer Abercrombie & Fitch Co. jumped 11 percent after reporting that its sales soared 32 percent.

"The consumer is strong and month after month retailing has been very strong," said Ryan Detrick, the chief technical strategist at Schaeffer's Investment Research. "If you take a step back it's clear that the U.S. economy continues to slowly expand."

The National Association of Realtors said the number of people who signed contracts to buy homes jumped 10.4 percent in October. Economists expected a slight decline. Home builder KB Home rose by 4.5 percent.

The Dow rose 106.63, or 1 percent, to close at 11,362.41 The Dow jumped 2.3 percent Wednesday, its biggest gain since Sept. 1, after a report showed that private employers were adding jobs.

The broader Standard & Poor's 500 index rose 15.46, or 1.3 percent, to 1,221.53. The Nasdaq composite index rose 29.92, or 1.2 percent, to 2,579.35.

Rising shares outpaced falling ones more than two to one on the New York Stock Exchange. Consolidated volume was 4.7 billion shares.

The rise in both retail sales and existing home sales overshadowed an unexpected rise in new claims for unemployment benefits. The Labor Department said first-time unemployment claims rose to 436,000 last week.

Traders found a silver lining in the report, however: the average number of new unemployment claims over the past month fell to a two-year low, signaling that the job market may be improving.

Jobs data could also move markets tomorrow after the Labor Department releases its monthly unemployment report. Economists expect the U.S. added 145,000 jobs but that the unemployment rate will remain 9.6 percent. Economists say the country would have to add roughly 300,000 jobs a month to cause a significant fall in the unemployment rate.

Shares rose overseas after the European Central Bank said it will keep its benchmark interest rate at a record low 1 percent. Investors had hoped that bank would announce more purchases of bonds issued by struggling European countries including Ireland, Italy and Spain.

The Euro Stoxx 50 index, which tracks blue chip companies in countries that use the euro, rose 1.5 percent.

The dollar fell 0.5 percent against an index of six currencies.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks staged a late afternoon rally after spending most of the day weighed down by an unexpected rise in the unemployment rate. Indexes wound up closing higher for the third straight day.

The Dow Jones industrial average rose 2.6 percent for the week, its best weekly gain since hitting a 2010 high on Nov. 5. The Dow is now just 0.5 percent below that level.

Materials and energy companies led the rebound. Newmont Mining Corp. gained 3.1 percent and oil field services company Schlumberger Ltd. added 2.5 percent. The dollar fell 1.4 percent against an index of six other currencies. Oil and gold prices rose.

*The NYSE DOW NYSE DOW closed HIGHER +19.68 points +0.17% on Friday December 3*
Sym. .........Last .......Change..........  
Dow 11,382.09 +19.68 +0.17% 
Nasdaq 2,591.46 +12.11 +0.47% 
S&P 500 1,224.71 +3.18 +0.26% 
30-yr Bond 4.3120% +0.0460  

NYSE Volume 4,381,935,000  (prior day 5,584,217,500)
Nasdaq Volume 1,842,640,750  (prior day 2,053,117,000) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,745.32 -22.24 -0.39% 
DAX 6,947.72 -9.89 -0.14%  
CAC 40 3,750.55 +3.51 +0.09%  

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,780.10 +18.30 +0.38%  
Shanghai Comp 2,842.43 -1.18 -0.04%  
Taiwan We... 8,624.01 +38.24 +0.45%
Nikkei 225 10,178.32 +9.80 +0.10%  
Hang Seng 23,320.52 -128.26 -0.55% 
Straits Times 3,172.44 -25.52 -0.80% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=7&asset=&ccode=

*Stocks recover ground after weak employment report

Stocks up for third straight day; major indexes rebound after stumbling over weak jobs report*

David K. Randall and Matthew Craft, AP Business Writers, On Friday December 3, 2010, 5:53 pm EST 

NEW YORK (AP) -- Stocks staged a late afternoon rally after spending most of the day weighed down by an unexpected rise in the unemployment rate. Indexes wound up closing higher for the third straight day.

The Dow Jones industrial average rose 2.6 percent for the week, its best weekly gain since hitting a 2010 high on Nov. 5. The Dow is now just 0.5 percent below that level.

Materials and energy companies led the rebound. Newmont Mining Corp. gained 3.1 percent and oil field services company Schlumberger Ltd. added 2.5 percent. The dollar fell 1.4 percent against an index of six other currencies. Oil and gold prices rose.

Michael Sheldon, chief market strategist at RDM Financial Group in Westport, Conn. said the relationship between a weaker dollar and stronger stocks followed a recent trend.

"You don't see it every day, but it's a clear inverse relationship: When the dollar goes down, stocks go up," he said.

Industrial and basic materials companies that derive much of their revenue from overseas tend to rise when the dollar falls. That's because their earnings from other countries are worth more in U.S. dollars when the dollar falls against other currencies.

The Dow Jones industrial average rose 19.68, or 0.2 percent, to close at 11,382.09.

The Standard & Poor's 500 rose 3.18, or 0.3 percent, to 1,224.71. The Nasdaq composite index rose 12.11, or 0.5 percent, to 2,591.46.

Stocks spent most of the day in a slump. The Labor Department reported that the unemployment rate climbed to a seven-month high of 9.8 percent in November. Employers added just 39,000 jobs, far below what economists forecast.

Expectations of job growth had risen Wednesday after a report showed that private companies were hiring at the fastest pace in three years. That and strong reports Thursday on retail spending and home sales pushed the Dow Jones industrial average up 356 points in two days.

Of the 30 stocks that make up the Dow, 17 rose. Bank of America Corp. led the index with a 1.5 percent gain. Cisco Systems Inc. was the index's laggard with a 0.8 percent loss.

The weak jobs report served as a reminder that the recovery is proceeding fitfully. The recession that started in December 2007 ended more than a year ago, in June 2009, according to the National Bureau of Economic Research. But the fallout lingers in the form of a rising unemployment rate. Economists say the economy will have to add up to 300,000 new jobs a month before the unemployment rate drops significantly.

"The U.S. may have to face the fact that unemployment is going to be high for a long time," said Drew Matus, a senior economist at UBS. "There are people who need to be retrained for new jobs and that will take time."

In corporate news, discount retailer Big Lots Inc. fell 5 percent after reporting that its third-quarter income dropped 42 percent.

Rising shares outpaced falling ones by almost two to one on the New York Stock Exchange. Consolidated volume was 3.8 billion shares.

5746


----------



## bigdog

Source: http://finance.yahoo.com

Bernanke's comments on economy keep stock indexes in check; hope for tax deal mitigates losses 

Stocks spent most of Monday in a funk brought on by cautious comments about the economy from Federal Reserve Chairman Ben Bernanke. Hopes for a compromise on extending Bush-era tax cuts and unemployment benefits erased some of the losses.

The Dow Jones industrial average ended down 20 points, breaking a three-day winning streak from last week. Stock indexes traded in a tight range all day and volume was light.

Stocks began the day on a sour note after Federal Reserve Chairman Ben Bernanke said the economic recovery is still struggling to become "self-sustaining" without government help.

In an interview with CBS' "60 Minutes" that aired Sunday, Bernanke argued that Congress shouldn't cut spending or boost taxes given how fragile the economy remains. He also said it could take four or five more years for unemployment, now at 9.8 percent, to fall to a historically normal 5 percent or 6 percent.

*The NYSE DOW NYSE DOW closed LOWER -19.90 points	-0.17%  on Monday December 6*
Sym. .........Last .......Change..........  
Dow 11,362.19	-19.90	-0.17% 
Nasdaq 2,594.92	+3.46	+0.13% 
S&P 500 1,223.12	-1.59	-0.13%
30-yr Bond 4.2500%	-0.0620

NYSE Volume 3,694,646,750 (prior day 4,381,935,000
Nasdaq Volume 1,633,835,875 (prior day 1,842,640,750) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,770.28 +24.96 +0.43% 
DAX 6,954.38 +6.66 +0.10%  
CAC 40 3,749.23 -1.32 -0.04%  

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,779.40 -0.70 -0.01%  
Shanghai Comp 2,857.18 +14.75 +0.52% 
Taiwan We... 8,702.23 +78.22 +0.91% 
Nikkei 225 10,167.23 -11.09 -0.11%  
Hang Seng 23,237.69 -82.83 -0.36% 
Straits Times 3,181.41 +8.97 +0.28% 

http://finance.yahoo.com/news/Stocks-end-mixed-on-hope-of-apf-1668405800.html?x=0

*Caution from Bernanke sends stock indexes lower

Bernanke's comments on economy keep stock indexes in check; hope for tax deal mitigates losses *

Chip Cutter, AP Business Writer, On Monday December 6, 2010, 5:19 pm 

NEW YORK (AP) -- Stocks spent most of Monday in a funk brought on by cautious comments about the economy from Federal Reserve Chairman Ben Bernanke. Hopes for a compromise on extending Bush-era tax cuts and unemployment benefits erased some of the losses.

The Dow Jones industrial average ended down 20 points, breaking a three-day winning streak from last week. Stock indexes traded in a tight range all day and volume was light.

Stocks began the day on a sour note after Federal Reserve Chairman Ben Bernanke said the economic recovery is still struggling to become "self-sustaining" without government help.

In an interview with CBS' "60 Minutes" that aired Sunday, Bernanke argued that Congress shouldn't cut spending or boost taxes given how fragile the economy remains. He also said it could take four or five more years for unemployment, now at 9.8 percent, to fall to a historically normal 5 percent or 6 percent.

Stocks recovered somewhat in the afternoon after Obama said in a speech that he would cede ground to help lawmakers reach an agreement on the tax cuts and unemployment benefits.

The Dow Jones industrial average fell 19.90, or 0.2 percent, to close at 11,362.19. The index had been down as many as 32 points earlier in the day.

The broader Standard & Poor's 500 index lost 1.59, or 0.1 percent, to 1,223.12. The Nasdaq composite index rose 3.46, or 0.1 percent, at 2,594.92.

Last week, strong reports on home sales, retail spending and consumer confidence lifted the Dow 2.6 percent, its best weekly gain since hitting a 2010 high on Nov. 5. The Dow is up 8.9 percent for the year.

"The animal spirits of investors remain bullish," said Channing Smith, a money manager and managing director of Capital Advisors Inc. However traders still have concerns about the lingering European debt crisis and the state of U.S. economy, he said.

Treasury prices rose as investors put money into less risky assets. The yield on the 10-year Treasury note, which moves opposite to its price, fell to 2.95 percent from 3.00 percent late Friday. That yield helps set interest rates on many kinds of loans including mortgages.

Gold for February delivery added $9.90 to settle at $1,416.10 an ounce. Silver gained 46.40 cents to settle at $29.735 an ounce.The dollar rose 0.4 percent against an index of six other currencies.

In corporate news, Barnes & Noble Inc. shot up $1.41, or 10.6 percent, to $14.69 after activist investor William Ackman and other shareholders of Borders Group Inc. said they were prepared to finance a $16 per share takeover bid for Barnes & Noble.

Sprint Nextel Corp. jumped 25 cents, or 6.4 percent, to $4.17 after the company said it would start phasing out the Nextel part of its network in 2013. That decision follows near-constant subscriber losses since Sprint bought Nextel in 2005.

Massey Energy Co. rose $1.21, or 2.4 percent, to $51.63 after the company issued a surprise announcement late Friday that its chairman and CEO, Don Blankenship, would retire at the end of the year. Blankenship is still expected to testify this month about the April 5 explosion at the Upper Big Branch mine, the nation's worst coal mine disaster in decades.

Rising shares and falling ones were almost evenly matched on the New York Stock Exchange. Trading volume was a light 804 million shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks turn mixed and bonds drop after Obama, GOP reach deal on extending tax cuts 

Stocks closed mixed after enthusiasm over a deal to extend tax cuts faded.

Bond prices fell sharply as traders anticipated the tax cuts would lead to ballooning budget deficits. The yield on the 10-year Treasury note jumped to 3.13 percent, its highest level since June 22.

President Barack Obama and Republican leaders agreed to a broad package of tax cuts and an extension of unemployment benefits. The compromise plan helped send stocks higher in the morning. The extension of the Bush-era tax cuts, which were due to expire at the end of the year, removed a major source of uncertainty for financial markets. The deal announced late Monday also included a one-year break on payroll taxes which will put money directly in Americans' pockets. The same is true for the extension of unemployment benefits, which economists see as an effective way to stimulate the economy by getting people spending again.

*The NYSE DOW NYSE DOW closed LOWER -3.03 points -0.03% 
 on Tuesday December 7*
Sym. .........Last .......Change.......... 
Dow 11,359.16 -3.03 -0.03% 
Nasdaq 2,598.49 +3.57 +0.14% 
S&P 500 1,223.75 +0.63 +0.05% 
30-yr Bond 4.4260% +0.1760  

NYSE Volume 6,967,751,000  (prior day 3,694,646,750)
Nasdaq Volume 1,936,224,500  (prior day 1,633,835,875) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,808.45 +38.17 +0.66% 
DAX 7,001.91 +47.53 +0.68% 
CAC 40 3,810.50 +61.27 +1.63%  

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,779.40 -0.70 -0.01%  
Shanghai Comp 2,857.18 +14.75 +0.52% 
Taiwan We... 8,702.23 +78.22 +0.91% 
Nikkei 225 10,167.23 -11.09 -0.11% 
Hang Seng 23,237.69 -82.83 -0.36%  
Straits Times 3,181.41 +8.97 +0.28% 

http://finance.yahoo.com/news/Stocks-end-flat-as-rally-over-apf-3923661154.html?x=0

*Stocks end flat as rally over tax cuts fades

Stocks turn mixed and bonds drop after Obama, GOP reach deal on extending tax cuts *

Chip Cutter, AP Business Writer, On Tuesday December 7, 2010, 4:57 pm 

NEW YORK (AP) -- Stocks closed mixed after enthusiasm over a deal to extend tax cuts faded.

Bond prices fell sharply as traders anticipated the tax cuts would lead to ballooning budget deficits. The yield on the 10-year Treasury note jumped to 3.13 percent, its highest level since June 22.

President Barack Obama and Republican leaders agreed to a broad package of tax cuts and an extension of unemployment benefits. The compromise plan helped send stocks higher in the morning. The extension of the Bush-era tax cuts, which were due to expire at the end of the year, removed a major source of uncertainty for financial markets. The deal announced late Monday also included a one-year break on payroll taxes which will put money directly in Americans' pockets. The same is true for the extension of unemployment benefits, which economists see as an effective way to stimulate the economy by getting people spending again.

"The deal in Washington is a big deal," said Kim Caughey Forrest, equity research analyst at Fort Pitt Capital Group. "Investors really do like certainty, and they really do like certainty around taxes."

The Dow Jones industrial average fell 3, or 0.03 percent, to close at 11,359.16. It had been up as many as 89 points before turning lower in the afternoon.

The broader Standard & Poor's 500 index rose 0.6, or 0.05 percent, to 1,223.75. The S&P closed within 2 points of its 2010 high reached on Nov. 5.

The Nasdaq composite index rose 3.6, or 0.1 percent, to 2,598.49.

Treasury prices fell sharply, sending their yields higher. The yield on the 10-year Treasury note rose to 3.13 percent from 2.93 percent late Monday. The yield on the 10-year note is a widely used benchmark for interest rates on loans including mortgages.

Citigroup Inc. rose 3.8 percent to $4.62 after the government said late Monday it reached a deal to sell its remaining stake in the bank for a $12 billion profit. Nicor Inc. jumped 4.3 percent to $48.79 after the natural gas distributor said it had agreed to be acquired by AGL Resources Inc. for about $2.38 billion in cash and stock.

Shares of New York Times Co. rose 4 percent to $9.76 after the newspaper publisher said declines in print advertising sales are slowing and expenses are falling.

Investors were also encouraged by news out of Europe. European stock markets rose after finance ministers from the 16 nations that use the euro did not rule out increasing their $1 trillion bailout fund. Ireland also passed a budget with steep tax hikes aimed at slashing its deficit.

The dollar was up 0.5 percent against an index of six other currencies. It had been down as much as 0.4 percent earlier in the day before recouping its losses by midday.

Rising stocks were even with declining ones on the New York Stock Exchange. Volume was 1.6 billion shares


----------



## bigdog

Source: http://finance.yahoo.com

Stocks inch higher, Treasury bonds in steep fall, as investors weigh compromise tax-cut plan

Stock indexes wobbled for most of the day before turning positive in the afternoon.

The compromise backed by President Barack Obama and Republican leaders on extending tax cuts crushed bonds Wednesday as traders expected the plan to lead to higher budget deficits and a pickup in economic growth. Stocks posted modest gains.

Congressional Democrats could still scuttle the tax agreement, but bond traders are acting like it's a done deal. Treasury prices dropped sharply, sending their yields higher for a second day. The yield on the 10-year Treasury note rose to 3.24 percent, the highest level since June 21 and a huge jump from the 2.93 percent it was trading at Monday before the tax deal was announced.

Part of the reason bonds are selling off is that investors now expect the tax package, which also includes an extension of unemployment benefits, to lead to better growth in the U.S. economy. That means less incentive to keep money parked in ultra-safe investments like Treasurys and also a greater likelihood of inflation, which would erode the value of the fixed payments from bonds.

*The NYSE DOW NYSE DOW closed HIGHER +13.32 +0.12% on Wednesday December 8*
Sym. .........Last .......Change.......... 
Dow 11,372.48 +13.32 +0.12% 
Nasdaq 2,609.16 +10.67 +0.41% 
S&P 500 1,228.28 +4.53 +0.37% 
30-yr Bond 4.4430% +0.0170  

NYSE Volume 5,252,957,000  (prior day 6,967,751,000)
Nasdaq Volume 1,788,131,000  (prior day 1,936,224,500) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,794.53 -13.92 -0.24% 
DAX 6,975.87 -26.04 -0.37%  
CAC 40 3,831.98 +21.48 +0.56%  

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,791.70 -24.30 -0.50% 
Shanghai Comp 2,848.55 -27.32 -0.95% 
Taiwan We... 8,703.79 -0.60 -0.01% 
Nikkei 225 10,232.33 +91.23 +0.90%  
Hang Seng 23,092.52 -335.63 -1.43%  
Straits Times 3,202.80 +10.92 +0.34% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks edge higher, Treasurys fall on tax-cut plan

Stocks inch higher, Treasury bonds in steep fall, as investors weigh compromise tax-cut plan*

Matthew Craft, AP Business Writer, On Wednesday December 8, 2010, 4:31 pm 

NEW YORK (AP) -- The compromise backed by President Barack Obama and Republican leaders on extending tax cuts crushed bonds Wednesday as traders expected the plan to lead to higher budget deficits and a pickup in economic growth. Stocks posted modest gains.

Congressional Democrats could still scuttle the tax agreement, but bond traders are acting like it's a done deal. Treasury prices dropped sharply, sending their yields higher for a second day. The yield on the 10-year Treasury note rose to 3.24 percent, the highest level since June 21 and a huge jump from the 2.93 percent it was trading at Monday before the tax deal was announced.

Part of the reason bonds are selling off is that investors now expect the tax package, which also includes an extension of unemployment benefits, to lead to better growth in the U.S. economy. That means less incentive to keep money parked in ultra-safe investments like Treasurys and also a greater likelihood of inflation, which would erode the value of the fixed payments from bonds.

Economists are already raising their estimates for economic growth as a result of the tax-cut package. Goldman Sachs economists released a rough estimate Wednesday saying that the tax relief could wind up adding between 0.5 and 1 percentage point to economic growth next year.

"There is no question that near term this tax deal will be a net positive for the economy because it will help growth," said Nariman Behravesh, chief economist at IHS Global Insight.

Another reason the tax package is pushing bond prices lower is that it will lead to a greater supply of Treasurys in the marketplace as the U.S. government issues more debt to finance its increasingly large budget deficits. Estimates of the total cost of the tax-cut package vary widely but go as high as $900 billion over the next few years.

Higher Treasury rates ripple through every corner of the economy, raising borrowing costs for the government, business and consumers. The Treasury Department auctioned another $21 billion in 10-year notes Wednesday at a rate of 3.34 percent, the highest since May. The Treasury will sell $13 billion in 30-year bonds Thursday. Selling long-dated bonds is often tricky: investors like the higher yields, but 30-year bonds would get hit the hardest if inflation picks up.

The Mortgage Bankers Association also reported that mortgage applications slipped last week as refinancing activity fell. The average rate for a 30-year fixed loan rose to 4.66 from 4.56 percent the previous week.

Stock indexes wobbled for most of the day before turning positive in the afternoon.

The Dow Jones industrial average edged up 13.32 points, or 0.1 percent, to 11,372.48.

The broader Standard & Poor's 500 index rose 4.53 or 0.4 percent, to a new yearly high of 1,228.28. The index last traded at this level in late September 2008.

Four of the 10 company groups in the S&P index rose. Financials rose the most with a 1.8 percent gain. Bank of America Corp. rose 3.7 percent to lead the 30 stocks that make up the Dow.

The Nasdaq composite index rose 10.67, or 0.4, to 2,609.16.

The higher rates in the Treasury market helped push the dollar up against other currencies including the Japanese yen and the euro. The dollar rose 0.2 percent against an index of six other major currencies.

In corporate news, McDonald's Corp. fell 1.6 percent to $78.74, making it the biggest decliner among the 30 stocks that make up the Dow. The company reported November sales figures that fell short of analysts' expectations.

Fortune Brands Inc. rose 1 percent to $61.76 after the company announced plans to split into three parts. Fortune will keep its liquor business led by Jim Beam bourbon while shedding the units that make Titleist golf balls, Moen faucets and Master Locks.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average fell 2.42, or less than 0.1 percent, to 11,370.06. The Nasdaq composite index rose 7.51, or 0.3 percent, to 2,616.67.

Stocks in limbo as tax deal stalls in House; jobless claims drop to 2nd-lowest level this year

Stocks closed mixed Thursday as traders waited to see whether a tax compromise brokered by the White House and Republicans will pass the Democratic-controlled House.

House Democrats pledged Thursday to reject the tax deal as it is currently written. The compromise reached by President Barack Obama and Republican leaders would extend tax cuts at all income levels for two years. House Democrats want tax rates for the wealthiest Americans to revert to their previous levels.

"There is a tremendous amount of uncertainty about some major tax planning and estate planning issues," said Eric Thorne, a vice president at Bryn Mawr Trust. "We think that the market will rally nicely once an agreement is passed one way or another."

*The NYSE DOW NYSE DOW closed LOWER -2.42 points -0.02% on Thursday December 9*
Sym. .........Last .......Change.......... 
Dow 11,370.06 -2.42 -0.02% 
Nasdaq 2,616.67 +7.51 +0.29% 
S&P 500 1,233.00 +4.72 +0.38%  
30-yr Bond 4.4000% -0.0430  

NYSE Volume 4,994,395,500  (prior day 5,252,957,000)
Nasdaq Volume 1,951,715,375  (prior day 1,788,131,000) 

*Europe*
Symbol.... ......Last .....Change.......  
FTSE 100 5,807.96 +13.43 +0.23%  
DAX 6,964.16 -11.71 -0.17%  
CAC 40 3,858.05 +26.07 +0.68% 

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,827.50 +35.80 +0.75%  
Shanghai Comp 2,810.95 -37.60 -1.32%  
Taiwan We... 8,753.84 +50.05 +0.58% 
Nikkei 225 10,285.88 +53.55 +0.52% 
Hang Seng 23,171.80 +79.28 +0.34% 
Straits Times 3,210.20 +7.40 +0.23% 

http://sg.finance.yahoo.com/news/Stocks-end-mixed-as-tax-apf-2633304254.html?x=0

*Stocks end mixed as tax compromise stalls in House

Stocks in limbo as tax deal stalls in House; jobless claims drop to 2nd-lowest level this year*

Matthew Craft and David K. Randall, AP Business Writers, On Friday 10 December 2010, 5:32 

NEW YORK (AP) -- Stocks closed mixed Thursday as traders waited to see whether a tax compromise brokered by the White House and Republicans will pass the Democratic-controlled House.

House Democrats pledged Thursday to reject the tax deal as it is currently written. The compromise reached by President Barack Obama and Republican leaders would extend tax cuts at all income levels for two years. House Democrats want tax rates for the wealthiest Americans to revert to their previous levels.

"There is a tremendous amount of uncertainty about some major tax planning and estate planning issues," said Eric Thorne, a vice president at Bryn Mawr Trust. "We think that the market will rally nicely once an agreement is passed one way or another."

The White House has been pushing Democrats to back the tax measure, arguing that a defeat could knock the economy back into recession. The deal also contains a provision extending unemployment benefits.

Economists expect the tax package to boost the U.S. economy and are already raising their estimates for economic growth next year. Goldman Sachs's rough estimate is that the tax proposal could add between 0.5 and 1 percentage point to economic growth in 2011. A stronger economy diminishes the appeal of ultra-safe investments like Treasurys and raises the prospect of higher inflation.

Stocks had edged higher in the morning after a report from the Labor Department showed that first time claims for unemployment benefits dropped last week to the second-lowest level this year. Claims fell to 421,000, below the 428,000 figure that Wall Street expected.

The four-week average of claims also slid for the fifth straight week, reaching the lowest level since August 2008, before the darkest days of the financial crisis.

The Standard & Poor's 500 index inched higher a day after setting a closing high for 2010. The index rose 4.72, or 0.4 percent, to 1,233. It was the second straight day that the S&P index reached a new high for the year.

The Dow Jones industrial average fell 2.42, or less than 0.1 percent, to 11,370.06. The Nasdaq composite index rose 7.51, or 0.3 percent, to 2,616.67.

Bank of America Corp. was the strongest performer among the 30 companies that make up the Dow. It rose up 5.4 percent. The index's laggard was McDonald's Corp., which lost 1.1 percent.

Eight of the 10 company groups in the S&P 500 index rose. Financial companies led the way with a 1.3 percent gain. Consumer discretionary companies were the weakest with a drop of less than 0.1 percent.

American International Group Inc. rose 13.2 percent to $47.78. Trading in the insurance conglomerate's shares was interrupted Wednesday as the company announced it would repay a loan from the New York Federal Reserve, clearing the way for the government to shed its 80 percent stake. The government's bailout of AIG was at one point worth $182 billion.

Treasurys prices rose slightly, causing their yields to drop, after getting crushed for two days straight. The yield on the 10-year note slipped to 3.22 percent. The yield, which help set rates for a variety of loans, reached as high as 3.33 percent Wednesday, the highest level in nearly six months.

The dollar remained flat against an index of six other major currencies.

Four stocks rose for every three that fell on the New York Stock Exchange. Trading volume came to 1.1 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow was the weakest of the three main stock average for the week, gaining just 0.3 percent. The S&P 500 added 1.3 percent and the Nasdaq rose 1.8 percent

An encouraging trade report and signs that a tax cut package would pass the Senate sent stocks to their highest levels in two years Friday. Bond prices fell for another day as investors expected the tax deal to lead to economic growth and higher budget deficits.

The Commerce Department reported that the U.S. trade deficit fell to its lowest level in nine months in October. Growing demand for American goods overseas pushed exports to their highest level in more than two years.

Separately, the Treasury Department said the federal government's budget shortfall hit $150.4 billion in November. Treasury prices dropped after the report was released, pushing their yields higher. The yield for the 10-year note rose to 3.33 percent, up from 3.21 percent late Thursday.

*The NYSE DOW NYSE DOW closed HIGHER +40.26 points +0.35% on Friday December 10*
Sym. .........Last .......Change.......... 
Dow 11,410.32 +40.26 +0.35% 
Nasdaq 2,637.54 +20.87 +0.80% 
S&P 500 1,240.40 +7.40 +0.60% 
30-yr Bond 4.4220% +0.0220 

NYSE Volume 5,021,669,500  (prior day 4,994,395,500) 
Nasdaq Volume 1,758,487,625  (prior day 1,951,715,375) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,812.95 +4.99 +0.09% 
DAX 7,006.17 +42.01 +0.60%  
CAC 40 3,857.35 -0.70 -0.02% 

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,830.00 +2.50 +0.05% 
Shanghai Comp 2,841.04 +30.09 +1.07%  
Taiwan We... 8,718.83 -35.01 -0.40% 
Nikkei 225 10,211.95 -73.93 -0.72% 
Hang Seng 23,162.91 -8.89 -0.04% 
Straits Times 3,185.42 -24.78 -0.77% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks edge higher on encouraging economic signs

Stocks slightly higher on lower trade deficit; Treasury prices fall on expectations of growth*

Matthew Craft and David K. Randall, AP Business Writers, On Friday December 10, 2010, 5:38 pm 

NEW YORK (AP) -- An encouraging trade report and signs that a tax cut package would pass the Senate sent stocks to their highest levels in two years Friday. Bond prices fell for another day as investors expected the tax deal to lead to economic growth and higher budget deficits.

The Commerce Department reported that the U.S. trade deficit fell to its lowest level in nine months in October. Growing demand for American goods overseas pushed exports to their highest level in more than two years.

Separately, the Treasury Department said the federal government's budget shortfall hit $150.4 billion in November. Treasury prices dropped after the report was released, pushing their yields higher. The yield for the 10-year note rose to 3.33 percent, up from 3.21 percent late Thursday.

The Standard & Poor's 500 index rose 7.40, or 0.6 percent, to 1,240.40. It was the third straight day that the S&P index closed at a new high for the year. The index has gained 11.2 percent this year and is now trading at the same price it did the week before Lehman Brothers filed for bankruptcy in September 2008.

The Dow Jones industrial average rose 40.26, or 0.4 percent, to 11,410.32. General Electric Co. led the 30 stocks that make up the index with a 3.4 percent jump to $17.72. GE said it planned to raise its dividend by 17 percent.

The Nasdaq composite index rose 20.87, or 0.8 percent, to 2,637.54.

The Dow was the weakest of the three main stock average for the week, gaining just 0.3 percent. The S&P 500 added 1.3 percent and the Nasdaq rose 1.8 percent.

Investors were encouraged to see that prospects were improving that the Senate would approve legislation aimed at avoiding sweeping tax increases Jan. 1. Negotiators added a few sweeteners to promote ethanol and other forms of alternative energy. A test vote was set for Monday.

House Democrats have balked at the proposal to extend tax cuts, voting in a closed-door meeting Thursday not to allow the package to reach the floor for a vote without changes to scale back tax cuts for the rich.

Tom di Galoma, head of fixed income trading at Guggenheim Partners in New York, said traders see passage of the deal as nearly inevitable. "To stimulate the economy, it really has to be done," he said. "The last thing you want to do is raise taxes in the middle of a recession."

On the off chance it failed, di Galoma said, stocks would probably lose the gains made over the past two weeks. Treasurys would jump, causing their yields to plummet.

Movie rental company Netflix Inc. rose 1.9 percent to $194.63 after Standard and Poor's added it to the S&P 500 index. The company has gained 250 percent this year.

Cablevision Systems Co., F5 Networks Inc. and Newfield Exploration Co. were added to the S&P 500 as well. The index dropped The New York Times Co., Eastman Kodak Co. and Office Depot Inc.

Two stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume was 4.6 billion shares.

6321


----------



## bigdog

Source: http://finance.yahoo.com

Stocks end flat ahead of Senate vote on tax-cut compromise; Dow up 18

Stocks ended flat Monday after expectations that a tax-cut package will pass the Senate kept them higher for much of the day.

The tax-cut compromise brokered by the White House and Republicans was scheduled for its first Senate vote late Monday.

If enacted, the package will extend tax cuts passed during the Bush administration for all income levels for another two years. It will also extend unemployment benefits through next year and put in place a one-year reduction in Social Security taxes.

Economists expect the nearly $900 billion tax package to boost economic growth and increase the size of the budget deficit. House Democrats have pledged to block the measure unless tax rates rise for the nation's wealthiest estates.

Traders were also encouraged by a handful of deals announced Monday. General Electric Co. is paying $1.3 billion to buy British oilfield company Wellstream Holdings PLC and Dell Inc. is spending $960 million for network storage company Compellent Technologies Inc.

*The NYSE DOW NYSE DOW closed HIGHER +18.24 points  +0.16% on Monday December 13*
Sym. .........Last .......Change.......... 
Dow 11,428.56 +18.24 +0.16%  
Nasdaq 2,624.91 -12.63 -0.48%  
S&P 500 1,240.46 +0.06 +0.00%  
30-yr Bond 4.4010% -0.0210

NYSE Volume 4,861,613,500  (prior day 5,021,669,500)  
Nasdaq Volume 1,847,898,125  (prior day 1,758,487,625) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,860.75 +47.80 +0.82% 
DAX 7,029.39 +23.22 +0.33% 
CAC 40 3,892.44 +35.09 +0.91% 

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,841.20 +11.20 +0.23% 
Shanghai Comp 2,922.95 +81.91 +2.88% 
Taiwan We... 8,736.59 +17.76 +0.20% 
Nikkei 225 10,293.89 +81.94 +0.80% 
Hang Seng 23,317.61 +154.70 +0.67%  
Straits Times 3,182.32 -3.10 -0.10%  

http://finance.yahoo.com/news/Stocks-end-mixed-ahead-of-apf-3594708458.html?x=0

*Stocks end mixed ahead of Senate vote on tax deal

Stocks end flat ahead of Senate vote on tax-cut compromise; Dow up 18 *

David K. Randall, AP Business Writer, On Monday December 13, 2010, 4:56 pm 

NEW YORK (AP) -- Stocks ended flat Monday after expectations that a tax-cut package will pass the Senate kept them higher for much of the day.

The tax-cut compromise brokered by the White House and Republicans was scheduled for its first Senate vote late Monday.

If enacted, the package will extend tax cuts passed during the Bush administration for all income levels for another two years. It will also extend unemployment benefits through next year and put in place a one-year reduction in Social Security taxes.

Economists expect the nearly $900 billion tax package to boost economic growth and increase the size of the budget deficit. House Democrats have pledged to block the measure unless tax rates rise for the nation's wealthiest estates.

Traders were also encouraged by a handful of deals announced Monday. General Electric Co. is paying $1.3 billion to buy British oilfield company Wellstream Holdings PLC and Dell Inc. is spending $960 million for network storage company Compellent Technologies Inc.

The S&P 500 index eked out a new 2010 high for the fourth time in four days. The index rose 0.06 point to 1,240.46.

Other indexes took a late afternoon spill. The Dow Jones industrial average rose 18.24, or 0.16 percent, to 11,428.56, having been up as many as 70 points earlier. The Dow is now just 15.52 points from its 2010 closing high, reached Nov. 5.

Falling shares and rising ones were almost evenly matched on the New York Stock Exchange. Volume was 963 million shares.

The tax plan has crushed the prices of Treasury bonds since it was announced last Monday. The yield of 10-year Treasurys rose to 3.36 percent early Monday before falling to 3.28. Treasurys reversed course after the Federal Reserve bought $7.8 billion in government bonds coming due between 2016 and 2017. Treasury yields have been mainly rising over the past month.

"It looks like the big trade going on right now is that money is working its way out of bonds and into stocks," said Ryan Detrick, a senior strategist at Schaeffer's Investment Research. "We think that is only going to continue as the economy starts looking better."

World stock markets rose. China's benchmark Shanghai Composite Index gained 2.8 percent after Chinese authorities surprised investors by not raising interest rates. Investors had anticipated an interest rate hike to combat high inflation.

Blue chip stocks in Europe rose 0.2 percent. The dollar fell 0.9 percent against an index of six currencies.

In corporate news, Hewlett-Packard Co. fell 2.1 percent to $41.65 after Goldman Sachs gave the hardware company a sell rating. Goldman's analysts see tablet computers, such as Apple Inc.'s iPad, taking business away from PCs.

Shares in Dionex Corp. shot up 20 percent to $117.83, after Thermo Fisher Scientific Inc. said Monday it planned to buy the maker of laboratory equipment for $2.1 billion. Thermo Fisher said it will pay $118.50 a share. Shares in Thermo Fisher rose 4.7 percent to $55.56.


----------



## bigdog

Source: http://finance.yahoo.com

US stocks closed higher on Tuesday, buoyed by a strong rise in November retail sales as the all-important holiday shopping season nears its peak.

The Dow Jones Industrial Average rose 47.98 points (0.42 percent) to close at 11,476.54, reaching its highest level in 27 months.

The S&P 500 index, a broader measure of the market, was up 1.13 points (0.09 percent) to 1,241.59, while the tech-rich Nasdaq rose 2.81 points (0.11 percent) to 2,627.72.

Financial stocks were the main laggards, with shares of Citigroup declining 2.5 percent and those of JPMorgan losing 1.7 percent and Bank of America declining 1.1 percent.

*The NYSE DOW NYSE DOW closed HIGHER +47.98 points +0.42% on Tuesday December 14*
Sym. .........Last .......Change.......... 
Dow 11,476.54 +47.98 +0.42% 
Nasdaq 2,627.72 +2.81 +0.11% 
S&P 500 1,241.59 +1.13 +0.09% 
30-yr Bond 4.5560% +0.1550  

NYSE Volume 4,603,373,500  (prior day 4,861,613,500) 
Nasdaq Volume 1,875,756,125  (prior day 1,847,898,125) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,891.21 +30.46 +0.52%  
DAX 7,027.40 -1.99 -0.03%  
CAC 40 3,902.87 +10.43 +0.27%  

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,850.90 +9.70 +0.20% 
Shanghai Comp 2,927.08 +4.12 +0.14% 
Taiwan We... 8,740.43 +3.84 +0.04% 
Nikkei 225 10,316.77 +22.88 +0.22% 
Hang Seng 23,431.19 +113.58 +0.49% 
Straits Times 3,176.91 -5.41 -0.17% 

http://au.finance.yahoo.com/news/Dow-reaches-two-year-high-US-afp-1706793139.html?x=0

*Dow reaches two year high as US stocks hold gains*

On Tuesday 14 December 2010, 22:47 EST 

US stocks closed higher on Tuesday, buoyed by a strong rise in November retail sales as the all-important holiday shopping season nears its peak.

The Dow Jones Industrial Average rose 47.98 points (0.42 percent) to close at 11,476.54, reaching its highest level in 27 months.

The S&P 500 index, a broader measure of the market, was up 1.13 points (0.09 percent) to 1,241.59, while the tech-rich Nasdaq rose 2.81 points (0.11 percent) to 2,627.72.

Financial stocks were the main laggards, with shares of Citigroup declining 2.5 percent and those of JPMorgan losing 1.7 percent and Bank of America declining 1.1 percent.

The tone for trade was set early in the day, when the Commerce Department released data showing US retail sales rose more than expected in November for a fifth straight month of gains.

Retail and food services sales for November rose 0.8 percent from the prior month to 378.7 billion dollars, the department said.

The increase was much better than the 0.5 percent rise expected by economists and signaled Americans were more willing to open their wallets, fueling consumer spending that makes up two-thirds of US economic activity.

"Overall, the November retail sales report was a strong report that flew in the face of the weak wage growth reported in the November employment report," said Patrick O'Hare at Briefing.com.

The data came shortly after electric appliance retailer Best Buy posted disappointing quarterly earnings, with a five percent drop in US sales, even though it included Black Friday, the day after Thanksgiving considered one of the shopping peaks of the year.

Best Buy's reported a 217 million dollar profit in the quarter ending November 27, compared with 227 million dollars in the same period last year. Its shares slumped nearly 15 percent on the news.

Later trade was choppy amid news that the Federal Reserve will maintain near-zero interest rates and its massive 600 billion dollar asset purchasing program launched last month.

The Federal Open Market Committee said the US economic recovery was chugging forward, but too slowly to reduce high unemployment rates.

"The FOMC statement made for a volatile afternoon as stocks sold off, treasuries sold off, and the dollar rallied," said analysts at briefing.com.

In other corporate news, shares of General Electric rose 0.4 percent after it forecast solid growth in 2011.

The bond market declined.

The yield on the 10-year Treasury bonds rose to 3.45 percent from 3.29 percent on Monday, while that of the 30-year bond climbed to 4.56 percent from 4.40 percent. Bond prices and yields move in opposite directions.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks fell slightly as investors fretted over euro-zone finances, but encouraging U.S. economic data limited the decline.

The Dow Jones Industrial Average fell 19.07 points, or 0.17%, to 11457.47, a day after the measure reached its highest close since September 2008. Alcoa was the measure's worst performer with a drop of 24 cents, or 1.7%, to $13.96, while J.P. Morgan Chase fell 58 cents, or 1.4%, to 40.21, and General Electric shed 20 cents, or 1.1%, to 17.49. 

The Nasdaq Composite lost 10.50, or 0.40%, to 2617.22. The Standard & Poor's 500-stock index shed 6.36, or 0.51%, to 1235.23.

The euro slipped after Moody's Investors Service said it may downgrade its ratings on Spanish government debt and Standard and Poor's Ratings Services lowered its ratings outlook on Belgium to negative from stable. 

The warnings added to investors' worries over the euro zone even as U.S. data showed New York manufacturing activity roared ahead this month after contracting in November, while U.S. industrial production staged a modest rebound in November following a brief drop-off. Capacity utilization bounced back as well. 

*The NYSE DOW NYSE DOW closed LOWER -19.07 points -0.17% on Wednesday December 15*
Sym. .........Last .......Change.......... 
Dow 11,457.47 -19.07 -0.17% 
Nasdaq 2,617.22 -10.50 -0.40% 
S&P 500 1,235.23 -6.36 -0.51%  
30-yr Bond 4.5980% +0.0420 

NYSE Volume 5,096,538,500  (prior day 4,603,373,500)
Nasdaq Volume 1,888,903,875  (prior day 1,875,756,125) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,882.18 -9.03 -0.15% 
DAX 7,016.37 -11.03 -0.16% 
CAC 40 3,880.19 -22.68 -0.58%  

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,853.40 +2.50 +0.05% 
Shanghai Comp 2,911.41 -15.66 -0.54% 
Taiwan We... 8,756.71 +16.28 +0.19%  
Nikkei 225 10,309.78 -6.99 -0.07% 
Hang Seng 22,975.35 -455.84 -1.95% 
Straits Times 3,147.20 -29.71 -0.94% 

http://www.smartmoney.com/Investing...wednesday-dec-15-2010-26041/?cid=yahoofinance


*Dow Loses Grip on Gains*
By Donna Kardos Yesalavich 

NEW YORK””Stocks fell slightly as investors fretted over euro-zone finances, but encouraging U.S. economic data limited the decline.

The Dow Jones Industrial Average fell 19.07 points, or 0.17%, to 11457.47, a day after the measure reached its highest close since September 2008. Alcoa was the measure's worst performer with a drop of 24 cents, or 1.7%, to $13.96, while J.P. Morgan Chase fell 58 cents, or 1.4%, to 40.21, and General Electric shed 20 cents, or 1.1%, to 17.49. 

The Nasdaq Composite lost 10.50, or 0.40%, to 2617.22. The Standard & Poor's 500-stock index shed 6.36, or 0.51%, to 1235.23.

The euro slipped after Moody's Investors Service said it may downgrade its ratings on Spanish government debt and Standard and Poor's Ratings Services lowered its ratings outlook on Belgium to negative from stable. 

The warnings added to investors' worries over the euro zone even as U.S. data showed New York manufacturing activity roared ahead this month after contracting in November, while U.S. industrial production staged a modest rebound in November following a brief drop-off. Capacity utilization bounced back as well. 

"We seem to be getting better as an economy while you cannot say the same thing about the European economy, especially the affected countries," said Peter Tuz, president at Chase Investment Counsel.

In issuing its warning on Spain, Moody's cited the country's challenging refinancing needs next year and a complicated outlook for the country's banks and regional governments. The lowered outlook from S&P on Belgium came as the ratings agency warned that if the country fails to form a government within six months, it could possibly face a one-notch downgrade. 

Also in the euro zone, German Chancellor Angela Merkel said European leaders will approve a permanent facility to rescue financially-stressed governments on Thursday, but again opposed a plan for collective government-debt issuance. 

Irish lawmakers voted Wednesday to accept 67.5 billion euros in loans from the European Union and International Monetary Fund as part of a 85 billion euros package to shore up Ireland's banks and public finances. 

Still, investors are thinking, "any bailouts over there, is that really a positive thing?" said Stephen Carl, head equity trader at The Williams Capital Group. "It's just kind of a temporary Band-Aid." 

Among stocks in focus, U.S. shares of Novartis climbed 3.16, or 5.7%, to 58.99. The company paved the way to take full control of Alcon after sweetening its original share offer with a cash component, ending a drawn-out battle to acquire the remaining 23% of the U.S. eye-care company it doesn't own for a total value of $12.9 billion. Alcon added 1.67, or 1%, to 164.10.

Goldman Sachs Group fell 2.12, or 1.3%, to 165.21, and Morgan Stanley shed 43 cents, or 1.6%, to 26.20, after some Wall Street analysts cut fourth-quarter earnings estimates on the investment banks, citing lower-than-expected trading volumes in fixed income, currencies, and commodities. 

Joy Global climbed 5.57, or 6.9%, to 85.78. The heavy-duty mining-equipment company's fiscal fourth-quarter earnings rose 18%, topping analysts' expectations as it was aided by a weaker dollar and stronger margins.

Boston Beer rose 10.22, or 12%, to 94.97. The brewer boosted its 2010 per-share earnings forecast, saying it is seeing increased beer shipments and benefiting from the timing of certain selling, general and administrative expenses. 

Shares of U.S.-based rare-earth producer Molycorp jumped 3.19, or 9.4%, to 36.98, after further details were released about China's plan to raise export duties on some rare earth minerals next year and maintain temporary duties on the export of coal, crude oil, fertilizer and nonferrous metals. 

Zale Corp. climbed 7 cents, or 2.2%, to 3.22. The jewelry retailer is exploring the sale of its Piercing Pagoda kiosk business, Bloomberg News reported, citing people familiar with the matter. 

Cypress Bioscience rose 70 cents, or 12%, to 6.45, after the company agreed to be acquired by Ramius LLC after the hedge-fund operator raised its bid to about $255 million. Activist investor Ramius is offering $6.50 per share for the biotechnology company. 

Cubist Pharmaceuticals fell 40 cents, or 1.8%, to 21.58. The company lowered its already downbeat revenue estimate for the year because cost restraints at hospitals hurt demand for its infection-fighting flagship drug more than expected.


----------



## bigdog

Source: http://finance.yahoo.com

A small drop in unemployment claims and a higher profit forecast by FedEx Corp. helped push stocks up Thursday. The Dow Jones industrial average and the Standard & Poor's 500 index closed at their highest levels of the year.

The Labor Department said first-time claims for unemployment benefits fell last week to 420,000, the third drop in four weeks. The four-week average of claims also slid for the sixth straight week, reaching the lowest level since July 2008. That was before Lehman Brothers collapsed and markets seized up at the height of the financial crisis.

Separately, the Commerce Department said housing starts rose slightly last month, reversing a two-month decline.

Card companies fell sharply after the Federal Reserve proposed as 12-cent cap on the fees that merchants pay every time a customer uses a debit card. Merchants now pay a fee that ranges between 1 to 2 percent of each transaction.

*The NYSE DOW NYSE DOW closed HIGHER  +41.78 points +0.36% on Thursday December 16*
Sym. .........Last .......Change.......... 
Dow 11,499.25 +41.78 +0.36% 
Nasdaq 2,637.31 +20.09 +0.77% 
S&P 500 1,242.87 +7.64 +0.62%  
30-yr Bond 4.5820% -0.0160

NYSE Volume 4,863,538,000  (prior day 5,096,538,500)
Nasdaq Volume 1,750,373,125  (prior day 1,888,903,875) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,881.12 -1.06 -0.02%  
DAX 7,024.40 +8.03 +0.11% 
CAC 40 3,888.36 +8.17 +0.21% 

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,868.80 +15.40 +0.32%  
Shanghai Comp 2,898.14 -13.28 -0.46%  
Taiwan We... 8,782.20 +25.49 +0.29% 
Nikkei 225 10,311.29 +1.51 +0.01% 
Hang Seng 22,668.78 -306.57 -1.33% 
Straits Times 3,147.67 +0.47 +0.01% 

http://finance.yahoo.com/news/Drop-...4.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Drop in jobless claims helps send stocks higher

Better news on jobless claims, trade sends stocks higher; card companies sink on Fed proposal *

Matthew Craft and David K. Randall, AP Business Writers, On Thursday December 16, 2010, 4:40 pm 

NEW YORK (AP) -- A small drop in unemployment claims and a higher profit forecast by FedEx Corp. helped push stocks up Thursday. The Dow Jones industrial average and the Standard & Poor's 500 index closed at their highest levels of the year.

The Labor Department said first-time claims for unemployment benefits fell last week to 420,000, the third drop in four weeks. The four-week average of claims also slid for the sixth straight week, reaching the lowest level since July 2008. That was before Lehman Brothers collapsed and markets seized up at the height of the financial crisis.

Separately, the Commerce Department said housing starts rose slightly last month, reversing a two-month decline.

Card companies fell sharply after the Federal Reserve proposed as 12-cent cap on the fees that merchants pay every time a customer uses a debit card. Merchants now pay a fee that ranges between 1 to 2 percent of each transaction.

The proposal could cut revenues for major banks and card networks like Visa Inc. and MasterCard Inc. Visa fell 12.7 percent to $67.19. MasterCard fell 10.3 percent to $223.49.

FedEx Corp. rose 1.9 percent to $94.22 after the company raised its earnings predictions for next year because businesses and consumers are shipping more packages. Traders took that as a sign the economy is improving.

The Dow Jones industrial average rose 41.78, or 0.4 percent, to 11,499.25. The broader Standard & Poor's 500 index rose 7.64, or 0.6 percent, to 1,242.87. The Nasdaq composite rose 20.09, or 0.8, to 2,637.31.

Gains came across the market. All 10 company groups in the Standard and Poor's 500 index rose.

Alcoa Inc. was the biggest gainer of the 30 stocks that make up the Dow index, rising 3.5 percent to $14.45. American Express Co. fell the most. The company lost 3.4 percent to $44.57.

A bill to extend Bush-era tax cuts along with unemployment benefits was postponed by the House of Representatives Thursday afternoon. The Senate passed the bill Wednesday. The tax package, a compromise between the White House and Senate Republicans, is expected to boost economic growth next year but also widen the budget deficit.

House Democratic leaders say they'll pass the bill, but only after first voting whether to raise the proposed rate for the estate tax.

The yield on the 10-year Treasury fell to 3.45 percent from 3.53 percent the day before. Investors have been selling Treasurys as their outlook on the economy improves, sending yields on the bonds higher. The 10-year yield traded as low as 2.49 percent as recently as Nov. 4.

The dollar fell 0.2 percent against an index of six heavily traded currencies. Gold fell 1.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

*The Dow gained 0.7 percent for the week. The S&P 500 rose 0.3 percent and the Nasdaq rose 0.2 percent.*

Stocks ended flat on Friday as investors shrugged off encouraging economic signs and a tax-cut package expected to lift economic growth. Trading ended shortly before President Barack Obama signed a tax bill into law.

The $850 billion package extends Bush-era tax cuts for another two years and expiring unemployment benefits through next year. House Democrats had pledged to block the tax proposal, a compromise worked out between Obama and Senate Republicans. But the House passed the bill late Thursday night. Critics said the cost didn't justify the expected boost to economic growth.

In a hopeful sign for the economy, the Conference Board said its index of leading economic indicators rose 1.1 percent in November, the fastest pace since March. The index -- which tracks data such as orders for new goods and materials -- rose 0.4 percent in October.

Stocks wavered in a tight range Friday, a day after major indexes hit two-year highs. The Dow Jones industrial average edged lower on Friday, but added 82 points over the week. The index of 30 large company shares has now gained 400 points, or 3.6 percent, over the last three weeks.

*The NYSE DOW NYSE DOW closed LOWER -7.34 points -0.06% on Friday December 17*
Sym. .........Last .......Change.......... 
Dow 11,491.91 -7.34 -0.06% 
Nasdaq 2,642.97 +5.66 +0.21% 
S&P 500 1,243.91 +1.04 +0.08%  
30-yr Bond 4.4090% -0.1730  

NYSE Volume 5,877,328,500  (prior day 4,863,538,000)
Nasdaq Volume 2,643,109,500  (prior day 1,750,373,125)

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,871.75 -9.37 -0.16% 
DAX 6,982.45 -41.95 -0.60% 
CAC 40 3,867.35 -21.01 -0.54% 

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,853.00 -15.80 -0.32% 
Shanghai Comp 2,893.74 -4.40 -0.15%  
Taiwan We... 8,817.90 +35.70 +0.41% 
Nikkei 225 10,303.83 -7.46 -0.07%  
Hang Seng 22,714.85 +46.07 +0.20% 
Straits Times 3,153.01 +5.34 +0.17%

http://finance.yahoo.com/news/Stocks-end-week-flat-Obama-apf-413671082.html?x=0

*Stocks end week flat; Obama signs tax bill

Stocks waver before President Obama signs $850B tax package *

David K. Randall and Matthew Craft, AP Business Writers, On Friday December 17, 2010, 6:01 pm EST 

NEW YORK (AP) -- Stocks ended flat on Friday as investors shrugged off encouraging economic signs and a tax-cut package expected to lift economic growth. Trading ended shortly before President Barack Obama signed a tax bill into law.

The $850 billion package extends Bush-era tax cuts for another two years and expiring unemployment benefits through next year. House Democrats had pledged to block the tax proposal, a compromise worked out between Obama and Senate Republicans. But the House passed the bill late Thursday night. Critics said the cost didn't justify the expected boost to economic growth.

In a hopeful sign for the economy, the Conference Board said its index of leading economic indicators rose 1.1 percent in November, the fastest pace since March. The index -- which tracks data such as orders for new goods and materials -- rose 0.4 percent in October.

Stocks wavered in a tight range Friday, a day after major indexes hit two-year highs. The Dow Jones industrial average edged lower on Friday, but added 82 points over the week. The index of 30 large company shares has now gained 400 points, or 3.6 percent, over the last three weeks.

The Dow Jones fell 7.34 points, or 0.06 percent, to close at 11,491.91.

The broader S&P 500 eked out another 2010 high. The index rose 1.04, or 0.08 percent, to close at 1,243.91. The Nasdaq composite rose 5.66, or 0.2 percent, to 2,642.97.

Rising shares barely outpaced falling ones on the New York Stock Exchange. Consolidated volume was 5.4 billion shares.

The Dow gained 0.7 percent for the week. The S&P 500 rose 0.3 percent and the Nasdaq rose 0.2 percent.

Bond yields fell at the end of this year's last full week of trading. The yield on the 10-year Treasury dropped to 3.33, after notching a seven-month high of 3.56 percent on Thursday. The 10-year yield is widely used by lenders to set borrowing rates for mortgages, corporate debt and other loans.

Boeing Co. rose 1 percent to $65.03 to lead the 30 stocks that make up the Dow. American Express Co. was the index's laggard. It fell 1.3 percent to $44.01.

Canadian bank BMO Financial Group said it will buy Wisconsin-based Marshall & Ilsley Corp. for $4.1 billion in stock. BMO, which operates the Bank of Montreal, said it will repay the preferred shares that Marshall & Ilsley issued as part of the Troubled Asset Relief Program before the deal closes in July. Shares of Marshall & Ilsley bounced 18.3 percent to $6.85.

Oracle Corp.'s stock jumped 3.9 percent to $31.46. After the market closed Thursday, the software giant reported a 28 percent rise in net income last quarter.

Research in Motion Ltd., maker of the BlackBerry, also said late Thursday that its third quarter earnings beat analyst expectations. The company's stock rose 1.6 percent to $60.20.

The dollar rose 0.3 percent against an index of six countries' currencies.

*The new site's revised uploading of files is not as easy as the prior processs!!*
-- my apoligies for not having the charts in a logical sequence

6774


----------



## bigdog

Source: http://finance.yahoo.com

Low trading volumes and a lack of economic reports kept stocks confined to a narrow range Monday. Indexes finished mixed and bond yields were barely changed.

American Express Co. had the largest move of the 30 stocks that make up the Dow Jones industrial average. The card issuer fell 3.4 percent to $42.50 after Stifel Nicolaus downgraded the company. New rules proposed by the Federal Reserve could limit fees the company charges merchants.

Aloca Inc. led the Dow index with a 1.4 percent gain to $14.77.

The Dow fell 13.78, or 0.1 percent, to 11,478.13. The Standard and Poor's 500-stock index rose 3.17, or 0.3 percent, to 1,247.08. The Nasdaq composite index gained 6.59, or 0.3 percent, to finish at 2,649.56.

*The NYSE DOW NYSE DOW closed LOWER -13.78 points -0.12% on Monday December 20*
Sym. .........Last .......Change.......... 
Dow 11,478.13 -13.78 -0.12%  
Nasdaq 2,649.56 +6.59 +0.25% 
S&P 500 1,247.08 +3.17 +0.25% 
30-yr Bond 4.4620% +0.0530  

NYSE Volume 4,003,981,500  (prior day 5,877,328,500)
Nasdaq Volume 1,735,017,000  (prior day 2,643,109,500)

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,894.10 +22.35 +0.38% 
DAX 7,018.60 +36.15 +0.52% 
CAC 40 3,885.08 +17.73 +0.46%  

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,829.20 -23.80 -0.49% 
Shanghai Comp 2,852.92 -40.82 -1.41% 
Taiwan We... 8,768.72 -49.18 -0.56% 
Nikkei 225 10,216.41 -87.42 -0.85% 
Hang Seng 22,639.08 -75.77 -0.33% 
Straits Times 3,132.96 -20.05 -0.64% 

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=8&asset=&ccode=

*Stocks end flat as light volume marks holiday week

Stock indexes end narrowly mixed and bond rates are flat as holiday-shortened week begins *

Chip Cutter and David K. Randall, AP Business Writers, On Monday December 20, 2010, 5:35 pm 

NEW YORK (AP) -- Low trading volumes and a lack of economic reports kept stocks confined to a narrow range Monday. Indexes finished mixed and bond yields were barely changed.

American Express Co. had the largest move of the 30 stocks that make up the Dow Jones industrial average. The card issuer fell 3.4 percent to $42.50 after Stifel Nicolaus downgraded the company. New rules proposed by the Federal Reserve could limit fees the company charges merchants.

Aloca Inc. led the Dow index with a 1.4 percent gain to $14.77.

The Dow fell 13.78, or 0.1 percent, to 11,478.13. The Standard and Poor's 500-stock index rose 3.17, or 0.3 percent, to 1,247.08. The Nasdaq composite index gained 6.59, or 0.3 percent, to finish at 2,649.56.

The yield on the 10-year Treasury bond rose slightly to 3.35 from 3.33 percent late Friday.

Stocks have been rising strongly in December. The Dow has gained 4.3 percent so far this month and the S&P has hit seven new annual highs since Dec. 8.

Investors have been encouraged by improving economic data on retail sales, consumer confidence and factory production, as well as policy changes that will benefit stockholders. President Barack Obama signed a bill last week that will keep Bush-era income tax cuts in place for another two years. The law will also extend favorable tax rates on capital gains and dividends.

"The markets ... made quite a run," said Stephen Carl, principal and head of equity trading at The Williams Capital Group. But the tax cuts "can only go so far," Carl said, and are unlikely to continue sending stocks higher.

In corporate news, Boeing Inc. fell 2.7 percent to $63.27 even as the company said it was increasing the production rate for its 777 aircraft again in response to strong demand. Last week, the aerospace giant said that customers canceled orders for three 777s and one of its 787s.

Medtronic Inc. rose 0.6 percent to $37.62 after the world's largest medical device manufacturer said its chairman and CEO will step down in April after leading the company for three years.

Later in the week, investors will get reports from shoe maker Nike Inc., used car dealership chain CarMax Inc. and pharmacy operator Walgreen Co.

Markets will be closed on Friday in observance of Christmas.

The dollar gained 0.3 percent against an index of six heavily-traded currencies. Commodity prices rose 1.1 percent.

Rising and falling shares were even on the New York Stock Exchange. Consolidated volume came to 3.6 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Financial companies led stock indexes to new two-year highs Tuesday after another big banking deal raised hopes that more acquisitions could be on the way.

Toronto-Dominion Bank said it is buying Chrysler Financial, the automaker's old lending arm, from Cerberus Capital Management LP for $6.3 billion. It was the latest example of a relatively healthy Canadian bank buying a U.S. lender battered by the financial crisis. Toronto-Dominion bought Commerce Bancorp Inc. in 2008, and just four days ago Bank of Montreal said it would buy Milwaukee-based bank Marshall & Ilsley Corp. for $4.1 billion.

The S&P 500 closed above the level it reached on Sept. 12, 2008, the last trading day before the collapse of Lehman Brothers at the height of the financial crisis. The Dow Jones industrial average is at its highest since Aug. 29, 2008.

Corporate mergers have picked up strongly this year. That, along with signs of an improving economy and a tax cut package passed last week, have helped drive stocks up. The S&P 500 has jumped 6.3 percent this month and 12.5 percent this year.

*The NYSE DOW NYSE DOW closed HIGHER +55.03 points +0.48% on Tuesday December 21*
Sym. .........Last .......Change..........  
Dow 11,533.16 +55.03 +0.48% 
Nasdaq 2,667.61 +18.05 +0.68% 
S&P 500 1,254.60 +7.52 +0.60% 
30-yr Bond 4.4310% -0.0310  

NYSE Volume 3,925,677,000  (prior day 4,003,981,500)
Nasdaq Volume 1,680,521,625  (prior day 1,735,017,000) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,951.80 +60.19 +1.02% 
DAX 7,077.99 +59.39 +0.85% 
CAC 40 3,927.49 +42.41 +1.09% 

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,862.50 +33.30 +0.69% 
Shanghai Comp 2,904.11 +51.20 +1.79% 
Taiwan We... 8,827.79 +59.07 +0.67% 
Nikkei 225 10,370.53 +154.12 +1.51% 
Hang Seng 22,993.86 +354.78 +1.57% 
Straits Times 3,139.85 +6.89 +0.22%  

http://finance.yahoo.com/news/Stock...dcontent/main/962078590/date/desc/11/s2807028

*Banking, other deals drive stock indexes higher

Latest cross-border banking acquisition lifts stock prices; Adobe soars after raising forecast *

Chip Cutter and Matthew Craft, AP Business Writers, On Tuesday December 21, 2010, 5:14 pm 

NEW YORK (AP) -- Financial companies led stock indexes to new two-year highs Tuesday after another big banking deal raised hopes that more acquisitions could be on the way.

Toronto-Dominion Bank said it is buying Chrysler Financial, the automaker's old lending arm, from Cerberus Capital Management LP for $6.3 billion. It was the latest example of a relatively healthy Canadian bank buying a U.S. lender battered by the financial crisis. Toronto-Dominion bought Commerce Bancorp Inc. in 2008, and just four days ago Bank of Montreal said it would buy Milwaukee-based bank Marshall & Ilsley Corp. for $4.1 billion.

The S&P 500 closed above the level it reached on Sept. 12, 2008, the last trading day before the collapse of Lehman Brothers at the height of the financial crisis. The Dow Jones industrial average is at its highest since Aug. 29, 2008.

Corporate mergers have picked up strongly this year. That, along with signs of an improving economy and a tax cut package passed last week, have helped drive stocks up. The S&P 500 has jumped 6.3 percent this month and 12.5 percent this year.

Investors like to see an increase in deals because it shows that companies are becoming more confident in the economy. It also leads investors to hunt for companies that might become targets for buyers.

Research firm Dealogic reported Tuesday that the total dollar amount of corporate deals has jumped 18 percent to $2.7 trillion so far this year compared with all of 2009. Caterpillar Inc., Chevron Corp. and Google Inc. have also made significant deals in 2010.

"There is growing optimism about the economy, or at least the U.S. economy, in 2011," said Alan Gayle, senior investment strategist for RidgeWorth Investments. "We're 18 months into this recovery, and good things are gradually happening."

The Dow rose 55.03, or 0.5 percent, to close at 11,533.16. The Dow is up 4.8 percent so far this month.

The S&P 500 index rose 7.52, or 0.6 percent, to close at 1,254.60. The Nasdaq composite rose 18.05, or 0.7 percent, to 2,667.61.

Financial companies were the best performers. JPMorgan Chase & Co. rose the most among the 30 companies that make up the Dow. The stock rose 2.6 percent to $41. Bank of America Corp., Goldman Sachs Group Inc. and Wells Fargo Corp. all rose by more than 1 percent.

"There's a perception that some of the ... bigger banks will start an acquisition program of their own in addition to what we're seeing with some of the Canadian banks," said Randy Bateman, chief investment officer for Huntington Asset Advisors.

Adobe Systems Inc. jumped 6 percent to $30.93 after the software maker reported earnings that were much stronger than analysts had expected. The company also raised its forecast for earnings and revenue in the current quarter.

Another technology company, Jabil Circuit Inc., soared 10.7 percent to $19.55 after its income more than tripled on stronger revenue. Jabil, which makes parts for electronics and other technology companies, also issued a higher earnings and revenue forecast.

CarMax Inc. slumped 7.6 percent to $33.17. The used car dealership chain said its expenses jumped 14 percent last quarter as the company paid more for sales commissions and advertising.

Bond prices were relatively flat. The yield on the 10-year Treasury note edged down to 3.30 percent from 3.35 percent late Monday.

The euro fell against the dollar after Portugal became the latest European country to be warned of a possible credit rating downgrade.

More than two stocks rose for every one that fell on the New York Stock Exchange. Trading volume was 809 million shares.


----------



## bigdog

Source: http://finance.yahoo.com

Major stock indexes edged up to two-year highs on Wednesday after a report showed that the U.S. economy grew faster than previously thought over the summer.

The Commerce Department said the country's gross domestic product rose at an annual rate of 2.6 percent between July and September, a small increase from its earlier estimate of 2.5 percent.

"Some folks will look at 2.6 percent as a disappointment, but the market is taking a look at the bigger picture," said Phil Orlando, the chief stock market strategist at Federated Investors. Many traders expect the economy to grow by 3 percent or more during the fourth quarter and through 2011, he said.

Separately, the National Association of Realtors said sales of previously-occupied homes rose 5.6 percent in November to an annual rate of 4.68 million. That was slightly below analysts' estimates of 4.75 million, according to data provided by FactSet.

*The NYSE DOW NYSE DOW closed HIGHER +26.33 points +0.23% on Wednesday December 22*
Sym. .........Last .......Change.......... 
Dow 11,559.49 +26.33 +0.23% 
Nasdaq 2,671.48 +3.87 +0.15% 
S&P 500 1,258.84 +4.24 +0.34% 
30-yr Bond 4.4460% +0.0150 

NYSE Volume 3,900,653,750  (prior day 3,925,677,000)
Nasdaq Volume 1,627,208,250  (prior day 1,680,521,625) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,983.49 +31.69 +0.53%  
DAX 7,067.92 -10.07 -0.14% 
CAC 40 3,919.71 -7.78 -0.20%  


*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,869.60 +7.10 +0.15% 
Shanghai Comp 2,877.90 -26.22 -0.90% 
Taiwan We... 8,860.49 +32.70 +0.37% 
Nikkei 225 10,346.48 -24.05 -0.23% 
Hang Seng 23,045.19 +51.33 +0.22% 
Straits Times 3,144.31 +4.46 +0.14% 

http://finance.yahoo.com/news/Stocks-edge-up-after-GDP-apf-356571578.html?x=0

*Stocks edge up after GDP growth revised higher

Stocks close higher after 3rd quarter economic growth is revised up *

David K. Randall and Matthew Craft, AP Business Writers, On Wednesday December 22, 2010, 4:58 pm 

NEW YORK (AP) -- Major stock indexes edged up to two-year highs on Wednesday after a report showed that the U.S. economy grew faster than previously thought over the summer.

The Commerce Department said the country's gross domestic product rose at an annual rate of 2.6 percent between July and September, a small increase from its earlier estimate of 2.5 percent.

"Some folks will look at 2.6 percent as a disappointment, but the market is taking a look at the bigger picture," said Phil Orlando, the chief stock market strategist at Federated Investors. Many traders expect the economy to grow by 3 percent or more during the fourth quarter and through 2011, he said.

Separately, the National Association of Realtors said sales of previously-occupied homes rose 5.6 percent in November to an annual rate of 4.68 million. That was slightly below analysts' estimates of 4.75 million, according to data provided by FactSet.

"The home sales numbers are significantly off the highs that we saw in the go-go years earlier this decade, but 5 million home sales a year is good enough to keep prices from falling," said Paul Zemsky, the head of asset allocation at ING Investment Management.

The Dow Jones industrial average rose 26.33 points, or 0.2 percent, to close at 11,559.49. The S&P 500 index rose 4.23, or 0.3 percent, to 1,258.84. Both indexes closed at their highest levels since July 2008.

The Nasdaq composite index gained 4, or 0.2 percent, to 2,671.48. It was the highest close for the Nasdaq since Dec. 28, 2007.

Trading was light ahead of the Christmas holiday on Friday. Rising stocks outnumbered falling ones by three to two on the New York Stock Exchange. Volume was 784 million shares.

Bank of America Corp. led the 30 stocks that make up the Dow index. It gained 3.1 percent to $13.38. Hewlett Packard had the largest fall. The stock dropped 1 percent to $41.48.

Before the market opened, Walgreen Co. reported revenue and earnings that beat analyst estimates. The country's largest drugstore chain said its income rose 18.8 percent. The stock rose 5.5 percent to $38.85.

Late Tuesday, Nike Inc. said it planned to raise some of its prices because of higher costs for cotton and shipping. Revenue and earnings per share were better than analysts had forecast. Nike fell 5.3 percent to $86.95.

December is shaping up to be a good month for stocks. The S&P 500 has risen 6.6 percent this month and the Dow has gained 5 percent. On Tuesday, the S&P 500 closed above the level it reached on Sept. 12, 2008, the last trading day before the collapse of Lehman Brothers at the height of the financial crisis.

Bond prices fell slightly. The yield on the 10-year Treasury note rose to 3.35 from 3.30 late Tuesday.

The dollar was unchanged against an index of six heavily traded currencies.


----------



## bigdog

Source: http://finance.yahoo.com

*Volume was a light 616 million shares on the last trading day before Christmas. Markets will be closed Friday for the holiday*

All three indexes ended the shortened trading week higher. The Dow rose 0.7 percent. The S&P 500 rose 1 percent, and the Nasdaq 0.8 percent.

Stocks ended mixed in a light day of trading Thursday after reports showed small improvements in consumer spending and the job market.

The Commerce Department reported that consumer spending rose 0.4 percent in November from the month before. That was slightly below expectations of a 0.5 percent gain.

In a separate report, the Labor Department said the number of people applying for unemployment benefits for the first time dropped by 3,000 last week to 420,000. That number is just low enough to indicate modest job growth

*The NYSE DOW NYSE DOW closed HIGHER +14.00 points  +0.12%  on Thursday December 23*
Sym. .........Last .......Change.......... 
Dow 11,573.49 +14.00 +0.12%  
Nasdaq 2,665.60 -5.88 -0.22% 
S&P 500 1,256.77 -2.07 -0.16% 
30-yr Bond 4.4750% +0.0290  

NYSE Volume 2,831,742,000  (prior day 3,900,653,750)
Nasdaq Volume 1,272,536,625  (prior day 1,627,208,250) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,996.07 +12.58 +0.21% 
DAX 7,057.69 -10.23 -0.14% 
CAC 40 3,911.32 -8.39 -0.21%  

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,888.20 +18.60 +0.38%  
Shanghai Comp 2,855.22 -22.68 -0.79%  
Taiwan We... 8,898.87 +38.38 +0.43%
Nikkei 225 10,346.48 -24.05 -0.23% 
Hang Seng 22,902.97 -142.22 -0.62% 
Straits Times 3,142.58 -1.73 -0.06%

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks mixed on last trading day before Christmas

Stocks finish flat after reports show small drop in unemployment, gain in consumer spending*

David K. Randall and Matthew Craft, AP Business Writers, On Thursday December 23, 2010, 4:55 pm 

NEW YORK (AP) -- Stocks ended mixed in a light day of trading Thursday after reports showed small improvements in consumer spending and the job market.

The Commerce Department reported that consumer spending rose 0.4 percent in November from the month before. That was slightly below expectations of a 0.5 percent gain.

In a separate report, the Labor Department said the number of people applying for unemployment benefits for the first time dropped by 3,000 last week to 420,000. That number is just low enough to indicate modest job growth.

"While you did not see a marked drop in the jobless numbers, there is a steady decline," said Quincy Krosby, a market strategist at Prudential Financial. "When you look at the four-week moving average, it suggests that we are starting to see a floor in initial unemployment claims."

The Dow Jones industrial average rose 14 points, or 0.1 percent, to close at 11,573.49. The broader Standard & Poor's 500 index fell 2.07, or 0.2 percent, to 1,256.77. The Nasdaq composite index fell 5.88, or 0.2 percent, to 2,665.60.

All three indexes ended the shortened trading week higher. The Dow rose 0.7 percent. The S&P 500 rose 1 percent, and the Nasdaq 0.8 percent.

Alcoa gained 1.3 percent to $15.34 to lead the 30 stocks that make up the Dow. Bank of America Corp. had the largest fall. It lost 2.4 percent to $13.06.

In corporate news, Jo-Ann Stores Inc. said it would be bought by a private equity firm for $1.6 billion. The stock rose 32 percent to $60.19.

Bond prices fell slightly. The yield on the 10-year Treasury note rose to 3.39 percent from 3.35 percent late Wednesday.

The dollar fell 0.3 percent against an index of six heavily-traded currencies.

Falling stocks outpaced rising ones by a small margin on the New York Stock Exchange. Volume was a light 616 million shares on the last trading day before Christmas. Markets will be closed Friday for the holiday.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks were little changed Monday as investors focused on strong holiday shopping results and looked past an interest rate hike in China.

Many traders stayed home because of the snow, but the absence of selling points to growing confidence about the U.S. economy. Data from MasterCard Advisors' SpendingPulse survey estimates that U.S. retail sales between Nov. 5 and Dec. 24 rose 5.5 percent from last year. Wall Street is anticipating that Tuesday's consumer confidence index for December will reflect this optimism.

Also expected on Tuesday is the widely-watched S&P/Case-Shiller house price index for October, which may not capture the exuberance seen in other more recent economic indicators.

*The NYSE DOW NYSE DOW closed LOWER -18.46 points -0.16% on Monday December 27*
Sym. .........Last .......Change.......... 
Dow 11,555.03 -18.46 -0.16% 
Nasdaq 2,667.27 +1.67 +0.06% 
S&P 500 1,257.54 +0.77 +0.06%  
30-yr Bond 4.4220% -0.0530  

NYSE Volume 2,260,164,250  (prior day 2,831,742,000)
Nasdaq Volume 1,112,746,875  (prior day 1,272,536,625 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 6,008.92 closed Dec 27 
DAX 6,970.73 -86.96 -1.23% 
CAC 40 3,862.19 -38.20 -0.98%  

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,868.30  Closed Dec 27 
Shanghai Comp 2,781.40 -53.76 -1.90%  
Taiwan We... 8,892.31 +31.21 +0.35% 
Nikkei 225 10,355.99 +76.80 +0.75%  
Hang Seng 22,833.80 Closed Dec 27 
Straits Times 3,159.36 +15.56 +0.49% 

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks flat as Wall St shrugs off China rate move

Stocks end flat as holiday shopping offsets China's interest rate move; blizzard hits volume *

David K. Randall and Pallavi Gogoi, AP Business Writers, On Monday December 27, 2010, 5:05 pm 

NEW YORK (AP) -- Stocks were little changed Monday as investors focused on strong holiday shopping results and looked past an interest rate hike in China.

Many traders stayed home because of the snow, but the absence of selling points to growing confidence about the U.S. economy. Data from MasterCard Advisors' SpendingPulse survey estimates that U.S. retail sales between Nov. 5 and Dec. 24 rose 5.5 percent from last year. Wall Street is anticipating that Tuesday's consumer confidence index for December will reflect this optimism.

Also expected on Tuesday is the widely-watched S&P/Case-Shiller house price index for October, which may not capture the exuberance seen in other more recent economic indicators.

The Dow Jones industrial average ended the day down 18.46 points, or 0.2 percent, to 11,555.03. The Standard and Poor's 500 index gained 0.8, or less than 0.1 percent, to 1,257.54. The Nasdaq composite index rose 1.7 points, also less than 0.1 percent, to 2,667.27. Monday's trading was particularly light after a massive blizzard swept the Northeast, disrupting commutes for many people in New York's financial industry. Activity was already expected to be slow in a week sandwiched between the Christmas and New Year's holidays.

China's move over the weekend was the second time in three months that the country took steps to slow the pace of its economic expansion. Inflation jumped to its highest levels in two years in November. Any slowdown in China affects companies worldwide and can drive a decline in many stock markets. Bank of America Corp. estimates that emerging markets like China account for 80 percent of the world's economic growth.

In the U.S., financial stocks were up. American International Group Inc. shares rose 9 percent to $59.38 after the bailed-out insurer said it obtained $3 billion in credit facilities, marking another step on its road to recovery.

Bank of America shares closed up nearly 2 percent to $13.27, while Citigroup Inc. was up 2 percent to $4.77.

The yield on the 10-year Treasury note rose slightly to 3.33 per cent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks closed barely changed Tuesday amid light trading ahead of the New Year's holiday.

The blue-chip Dow Jones industrial average finished slightly higher, though stocks had dipped earlier on disappointing consumer confidence and home prices reports.

The Dow edged up after Treasury prices fell in the wake of a weak bond auction in the afternoon. Fewer than expected buyers emerged for the government's auction of $35 billion five-year bonds. The yield on the 10-year Treasury note rose to 3.49 percent from 3.34 percent late Monday.

The Dow closed the day higher by 20.51 points, or 0.2 percent, to 11,575.54. The Standard and Poor's 500 index was up 0.97, or less than 0.1 percent, to 1,258.51. The technology-focused Nasdaq composite index lost 4.39, or 0.2 percent, to 2,662.88.

*The NYSE DOW NYSE DOW closed HIGHER +20.51 points +0.18% on Tuesday December 28*
Sym. .........Last .......Change.......... 
Dow 11,575.54 +20.51 +0.18%  
Nasdaq 2,662.88 -4.39 -0.16%  
S&P 500 1,258.51 +0.97 +0.08% 
30-yr Bond 4.5490% +0.1270 

NYSE Volume 2,478,062,250  (prior day 2,260,164,250)
Nasdaq Volume 1,145,811,250  (prior day 1,112,746,875) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 6,008.92 Closed Dec 28
DAX 6,972.10 +1.37 +0.02% 
CAC 40 3,858.72 -3.47 -0.09%  

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,868.30 Closed Dec 28  
Shanghai Comp 2,732.99 -48.41 -1.74% 
Taiwan We... 8,870.76 -21.55 -0.24% 
Nikkei 225 10,292.63 -63.36 -0.61% 
Hang Seng 22,621.73 -212.07 -0.93%  
Straits Times 3,183.70 +24.34 +0.77% 

http://finance.yahoo.com/news/Dow-f...8.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Dow finishes up, Nasdaq down amid thin trading

Dow up, Nasdaq down amid thin trading, weak reports on consumer confidence, housing market *

David K. Randall and Pallavi Gogoi, AP Business Writers, On Tuesday December 28, 2010, 4:58 pm 

NEW YORK (AP) -- Stocks closed barely changed Tuesday amid light trading ahead of the New Year's holiday.

The blue-chip Dow Jones industrial average finished slightly higher, though stocks had dipped earlier on disappointing consumer confidence and home prices reports.

The Dow edged up after Treasury prices fell in the wake of a weak bond auction in the afternoon. Fewer than expected buyers emerged for the government's auction of $35 billion five-year bonds. The yield on the 10-year Treasury note rose to 3.49 percent from 3.34 percent late Monday.

The Dow closed the day higher by 20.51 points, or 0.2 percent, to 11,575.54. The Standard and Poor's 500 index was up 0.97, or less than 0.1 percent, to 1,258.51. The technology-focused Nasdaq composite index lost 4.39, or 0.2 percent, to 2,662.88.

Earlier in the day, the Conference Board announced that consumer confidence in the economy slid to a level of 52.5 in December, down from 54.3 in November, as Americans continued to fret about the high rate of unemployment. The market was expecting a slightly higher reading because of signs of improved consumer spending in the Christmas holiday season this year.

"The spending patterns this Christmas looks better, but unemployment continues to be a big question," said Kim Caughey Forrest, senior equity research analyst at Fort Pitt Capital Group.

Another factor weighing on the minds of traders is fear that the housing market will continue to fall. Standard & Poor's/Case-Shiller said Tuesday that home prices fell 1.3 percent in October from a month earlier.

Home prices slid across the country, including the biggest cities. Prices were down 2.9 percent in Atlanta, 2 percent in Chicago, and 1.9 percent in San Francisco.

Energy and materials companies were posting gains as the price of crude oil gained. Chevron Corp. led Dow gainers, rising 1.2 percent to finish at $91.19.

American Express Co. had the largest fall, losing 0.6 percent to $42.79.

In corporate news, General Motors Co. gained 2.1 percent to close at $35.32 after a handful of analysts from investment banks that underwrote the automaker's IPO initiated coverage with favorable ratings.

Home builder Beazer Homes USA Inc. fell 4.5 percent to $5.37 on the disappointing home prices report.

The dollar slid to a 7-week low versus the Japanese yen Tuesday in thin post-Christmas trading, but rose against the euro and pound.

About 559 million shares changed hands, about half the usual volume on Wall Street. Trading is expected to be light for most of the week as many investors have already closed their books for the year.

Falling shares narrowly outpaced rising ones on the New York Stock Exchange


----------



## bigdog

Re: NYSE Dow Jones finished today at:

Source: http://finance.yahoo.com

Stocks finished higher Wednesday as the market continued on pace for its best December in nearly twenty years.

The Standard and Poor's 500-stock index - the market measure used by most professional investors - has gained 6.7 percent this month. If it closes Friday at this level or higher, it will be the best December return for the index since 1991.

Trading continued to be thin ahead of the New Year's holiday. In the absence of any fresh economic data or major corporate news, investors were attracted to the government's latest bond auction. Treasurys rallied and stocks also drew strength from the successful sale. Traders' moods also appear to be buoyed by the mostly positive economic news of recent weeks.

Strong corporate profits have helped push stocks higher for much of 2010.

*The NYSE DOW NYSE DOW closed HIGHER +9.84 points +0.09% on Wednesday December 29*
Sym. .........Last .......Change.......... 
Dow 11,585.38 +9.84 +0.09% 
Nasdaq 2,666.93 +4.05 +0.15% 
S&P 500 1,259.78 +1.27 +0.10% 
30-yr Bond 4.4090% -0.1400

NYSE Volume 2,366,656,500  (prior day 2,478,062,250)
Nasdaq Volume 1,129,144,875  (prior day 1,145,811,250)  

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,996.36 -12.56 -0.21%  
DAX 6,995.47 +23.37 +0.34% 
CAC 40 3,890.65 +31.93 +0.83% 

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,871.60 +3.30 +0.07% 
Shanghai Comp 2,751.53 +18.54 +0.68%  
Taiwan We... 8,866.35 -4.41 -0.05%  
Nikkei 225 10,344.54 +51.91 +0.50% 
Hang Seng 22,969.30 +347.57 +1.54% 
Straits Times 3,207.91 +24.21 +0.76%

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks end higher as market approaches new year

Stocks finish slightly higher as market continues on pace for best December in nearly 20 years *

Pallavi Gogoi and David K. Randall, AP Business Writer, On Wednesday December 29, 2010, 4:39 pm 

NEW YORK (AP) -- Stocks finished higher Wednesday as the market continued on pace for its best December in nearly twenty years.

The Standard and Poor's 500-stock index - the market measure used by most professional investors - has gained 6.7 percent this month. If it closes Friday at this level or higher, it will be the best December return for the index since 1991.

Trading continued to be thin ahead of the New Year's holiday. In the absence of any fresh economic data or major corporate news, investors were attracted to the government's latest bond auction. Treasurys rallied and stocks also drew strength from the successful sale. Traders' moods also appear to be buoyed by the mostly positive economic news of recent weeks.

Strong corporate profits have helped push stocks higher for much of 2010.

"The primary theme of 2010 was that corporate profits were much better than expected," said Philip Dow, director of equity strategy at RBC Wealth Management in Minneapolis. "As we enter into 2011, my hope and belief is that we move from recovery to expansion and a self-sustaining economy."

The Dow Jones Industrial average closed 9.84 points higher, or 0.1 percent, to 11,585.38. The S&P 500 rose 1.27, or 0.1 percent, to 1,259.78. The technology-focused Nasdaq gained 4.05, or nearly 0.2 percent, to 2,666.93.

Stocks rose across the market, with eight of the 10 industry groups in the S&P index posting gains.

Stock trading volumes on Wall Street are expected to be light throughout this week between the Christmas and New Year's holidays. Many investors have already closed their books for the year and are on vacation until January. Trading volume totaled just 2.3 billion shares on the New York Stock Exchange, where seven shares rose for every three that fell.

Traders have been encouraged that Americans took out their wallets to shop during the holiday season, after two years of holding back. However, RBC's Dow warns that America cannot depend on consumers alone to pull it out of the trough this time.

"People probably got bored of not spending and it was time to celebrate a little, but we shouldn't be surprised if the consumer retrenches again," said Dow.

A disappointing report on consumer confidence released Tuesday showed that while holiday spending surged, consumers are still fretting about the economy and high unemployment.

In corporate news Wednesday, BJ's Wholesale Club Inc. rose 7 percent to finish at $47.62 after reports that a private-equity firm might be interested in acquiring the discount club. The firm, Leonard Green & Partners, recently reached deals to buy other retailers including fabric and crafts chain Jo-Ann Stores Inc., and is partnering with TPG Capital to buy preppy clothier J. Crew Group Inc.

The dollar fell 0.7 percent against an index of six heavily traded currencies.

Looking ahead to Thursday, investors will check for signs of how the housing market is performing when November data on pending home sales will be released. In October, there was a 10 percent increase in new contracts signed on falling home prices and low mortgage rates.

Also on Thursday, the Labor Department's report on weekly unemployment claims will be released at 8:30 a.m. Eastern.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks dipped Thursday as investors locked in their positions at the end of the year.

While U.S. markets fell slightly, stocks are set to end 2010 on an upbeat note: The S&P 500 index and the Dow Jones industrial average are both up 14 percent for the year, after dividends, thanks to record corporate profits. The Dow is back to levels last seen in August 2008, prior to the heat of the financial crisis, while the S&P might just eke out the best December in 20 years.

Some investors are taking the last week of the month to sell and notch their profits. Others are selling stocks or funds that have lost money in order to reap the tax benefits.

The Dow Jones industrial average was off 15.67 points, or 0.1 percent, to 11,569.7. The S&P 500 edged down 1.9, or 0.2 percent, to 1,257.88. The technology-focused Nasdaq composite index fell 3.95, or 0.2 percent, to 2,662.98.

*The NYSE DOW NYSE DOW closed LOWER -15.67 points -0.14% on Thursday December 30*
Sym. .........Last .......Change.......... 
Dow 11,569.71 -15.67 -0.14% 
Nasdaq 2,662.98 -3.95 -0.15% 
S&P 500 1,257.88 -1.90 -0.15%  
30-yr Bond 4.4300% +0.0210  

NYSE Volume 2,292,683,750  (prior day 2,366,656,500)
Nasdaq Volume 1,091,271,625  (prior day 1,129,144,875)

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,971.01 -25.35 -0.42% 
DAX 6,914.19 -81.28 -1.16% 
CAC 40 3,850.76 -39.89 -1.03% 

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,886.70 +15.10 +0.31% 
Shanghai Comp 2,759.57 +8.05 +0.29% 
Taiwan We... 8,907.91 +41.56 +0.47%  
Nikkei 225 10,228.92 -115.62 -1.12%  
Hang Seng 22,999.34 +30.04 +0.13% 
Straits Times 3,212.46 +4.55 +0.14%  

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks down slightly as investors lock in 2010

Stocks edge lower as investors brush aside positive economic data and lock in 2010 *

Pallavi Gogoi and David K. Randall, AP Business Writers, On Thursday December 30, 2010, 4:57 pm 

NEW YORK (AP) -- Stocks dipped Thursday as investors locked in their positions at the end of the year.

While U.S. markets fell slightly, stocks are set to end 2010 on an upbeat note: The S&P 500 index and the Dow Jones industrial average are both up 14 percent for the year, after dividends, thanks to record corporate profits. The Dow is back to levels last seen in August 2008, prior to the heat of the financial crisis, while the S&P might just eke out the best December in 20 years.

Some investors are taking the last week of the month to sell and notch their profits. Others are selling stocks or funds that have lost money in order to reap the tax benefits.

The Dow Jones industrial average was off 15.67 points, or 0.1 percent, to 11,569.7. The S&P 500 edged down 1.9, or 0.2 percent, to 1,257.88. The technology-focused Nasdaq composite index fell 3.95, or 0.2 percent, to 2,662.98.

Losses came across the market. Energy and telecommunications companies were the only ones among the 10 industry groups that make up the S&P index to post gains.

Alcoa Inc. rose 0.5 percent to $15.21 to lead the 30 stocks that make up the Dow. American Express had the largest loss, falling 0.8 percent to $42.51.

The week has been marked by thin trading. Thursday was considered by many to be the last trading day of note because even fewer traders are expected to show up on Friday, the last day of the year.

Investors received positive economic news. The Labor Department said that the number of Americans applying for unemployment benefits for the first time fell to its lowest point in nearly two and a half years, a sign that the job market is slowly improving. Applications dropped by 34,000 to 388,000, the fewest since July 2008.

The Chicago Purchasing Managers Index for December showed that companies in the Midwest were faring better than analysts anticipated. The index, which surveys business conditions in the states of Illinois, Indiana and Michigan, came in with a reading of 68.6, up from 62.5 in the previous month. Economists had been expecting the index to drop to 61.

Home sales also fared well. The National Association of Realtors said the number of people who signed contracts to buy homes rose in November, the fourth increase since contract signings hit a low in June. Its index of sales agreements for previously occupied homes increased 3.5 percent.

However, with mortgage rates creeping up, investors worried over its effect on home sales. The average rate on 30-year fixed mortgages rose this week to 4.86 percent, the highest level in seven months.

U.S. Treasurys are also down slightly, which has led to a slight bump up in yields. The yield on the benchmark 10-year bond rose to 3.37 percent, up from 3.35 at Wednesday's close.

Rising and falling shares were even on the New York Stock Exchange. Floor volume came to 507 million shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks ended a gut-wrenching 2010 quietly Friday. The major indexes were little changed and trading volume was at one of its lowest levels of the year as many traders took the day off.

Despite investors' concerns about the U.S. economy, the possibility of European countries defaulting on debt, the Standard & Poor's 500 stock index and the Dow Jones industrial average both rose about 14 percent for the year, including dividends. The Nasdaq composite index, meanwhile, rose about 18 percent for the year after dividends.

At Friday's close, the Dow gained 7.8 points, or 0.1 percent, to 11,577.51. The S&P 500 fell 0.24 to 1,257.64. The Nasdaq composite index dipped 10.11, or 0.4 percent, to 2,652.87.

The Dow finished the year at its highest level since August 2008, before the height of the financial crisis. The S&P had its best December gain since 1991.

The numbers hide the fact that it was a rocky year. Stocks plunged in the spring after Greece required an emergency bailout to deal with its debt crisis. That raised concerns about debt issues in other European countries, including Ireland, which needed a bailout later in the year.

*The NYSE DOW NYSE DOW closed HIGHER +7.80 points +0.07% on Friday December 31*
Sym. .........Last .......Change.......... 
Dow 11,577.51 +7.80 +0.07%  
Nasdaq 2,652.87 -10.11 -0.38% 
S&P 500 1,257.64 -0.24 -0.02% 
30-yr Bond 4.3620% -0.0680 

NYSE Volume 2,208,916,500  (prior day 2,292,683,750)
Nasdaq Volume 1,050,254,500 (prior day   1,091,271,625) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,899.94 -71.07 -1.19% 
DAX 6,914.19 -81.28 -1.16% 
CAC 40 3,804.78 -45.98 -1.19%  

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,846.90 -39.80 -0.81%  
Shanghai Comp 2,808.08 +48.50 +1.76% 
Taiwan We... 8,972.50 +64.59 +0.73%  
Nikkei 225 10,228.92 -115.62 -1.12%  
Hang Seng 23,035.45 +36.11 +0.16%  
Straits Times 3,190.04 -22.42 -0.70% 

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks mixed on last day of strong year for market

Stocks mixed on final day of trading, but 2010 was still a solid year for investors *

Chip Cutter and David K. Randall, AP Business Writers, On Friday December 31, 2010, 4:24 pm EST 

NEW YORK (AP) -- Stocks ended a gut-wrenching 2010 quietly Friday. The major indexes were little changed and trading volume was at one of its lowest levels of the year as many traders took the day off.

Despite investors' concerns about the U.S. economy, the possibility of European countries defaulting on debt, the Standard & Poor's 500 stock index and the Dow Jones industrial average both rose about 14 percent for the year, including dividends. The Nasdaq composite index, meanwhile, rose about 18 percent for the year after dividends.

At Friday's close, the Dow gained 7.8 points, or 0.1 percent, to 11,577.51. The S&P 500 fell 0.24 to 1,257.64. The Nasdaq composite index dipped 10.11, or 0.4 percent, to 2,652.87.

The Dow finished the year at its highest level since August 2008, before the height of the financial crisis. The S&P had its best December gain since 1991.

The numbers hide the fact that it was a rocky year. Stocks plunged in the spring after Greece required an emergency bailout to deal with its debt crisis. That raised concerns about debt issues in other European countries, including Ireland, which needed a bailout later in the year.

The May 6 "flash crash," which sent the Dow down to a loss of nearly 1,000 points in less than a half-hour, also rattled investors. The Dow fell 14 percent from a high of 11,205.03 on April 26 to its low of 9,686.48 on July 2.

The sudden drop -- which was later attributed to a fund company that used a complex computer trading program -- rattled many small investors who were still avoiding stocks after the financial crisis in 2008.

"The flash crash made retail investors take a step back and say, 'Is this really just a legalized gambling arena?'", said Scott Rostan, a financial consultant for investment banks and an adjunct professor at the University of North Carolina, Chapel Hill.

A distrust of the stock market helped fuel a boom in commodities, which finished 2010 at their highest levels in years. Gold closed above $1,400 an ounce after rising throughout the year on global economic worries. Oil prices rose from a low of $70 a barrel to close the year higher than $90.

The yield on the 10-year Treasury note rose to a yearly high of just under 4 percent in April and then plunged as low as 2.38 percent in October. That contributed to a historic drop in mortgage rates that brought 30-year fixed-rate loans to a low of 4.17 percent early in November.

Stocks came back in the last two months of the year after the Federal Reserve announced a $600 billion bond-buying program to lower interest rates and stimulate the economy. Bond yields fell to levels down not seen since the 1950s.

"It was a market that needed stimulus and responded miraculously," said Quincy Krosby, the chief market strategist at Prudential. "Corporate fundamentals were clearly excellent, but to get the push that the market needed to keep it going it needed more buyers."

Investors were also encouraged by an extension of Bush-era tax cuts and improving economic reports on unemployment, retail sales and consumer confidence, which suggested that Americans were beginning to spend again. By the end of December, investors began moving money back into U.S. stock funds after selling for every week since May.

Whether the gains will continue into 2011 will depend on a better jobs market, consumers who are more confident and the ability of corporations to earn more money from higher revenue rather than cost cutting.

Many on Wall Street are optimistic that the bull market will not end next year.

"All of the economic indicators are pointing to stronger growth next year," said Peter Cardillo, chief market economist at New York-based brokerage firm Avalon Partners Inc.

Consumer discretionary stocks in the S&P 500 have risen 26 percent this year, making them the best performers of the 10 industry groups in the index. Health care and utility stocks have been the worst performers, rising less than 1 percent for the year.

The Russell 2000 index, made up of small-cap stocks, had the best overall performance of domestic stock indexes. It returned 27.8 percent in 2010, including dividends.

In large part because of worries over the health of the euro, the dollar rose throughout the year against an index of six heavily traded currencies. It reached its peak in June before falling to nearly the level where it began the year.

8429


----------



## bigdog

Source: http://finance.yahoo.com

Stocks started 2011 with a big lift on Monday, and that could be a promising sign for the rest of the year.

Investors call it the "January barometer." According to the Stock Trader's Almanac, a gain in the Standard and Poor's 500 stock index over the first five days of January has led to annual gains nearly 90 percent of the time.

"All of the forecasts come out of Wall Street, and those expectations for the year give January a nice indicative effect of what the year will look like," said Jeffery Hirsch, the editor of the Stock Trader's Almanac.

Signs that the economy is improving pushed stock indexes higher on the first trading day of the year. Manufacturing activity and construction spending both rose more than analysts were predicting.

*The NYSE DOW NYSE DOW closed HIGHER +93.24 points +0.81%  on Friday January 3*
Sym. .........Last .......Change..........  
Dow 11,670.75 +93.24 +0.81% 
Nasdaq 2,691.52 +38.65 +1.46% 
S&P 500 1,271.89 +14.25 +1.13% 
30-yr Bond 4.3980% +0.0360  

NYSE Volume 4,886,556,500  (prior day 2,208,916,500)
Nasdaq Volume 1,950,757,500  (prior day 1,050,254,500)

*Europe*
Symbol.... ......Last .....Change.......  
FTSE 100 5,899.94 closed Jan 3 
DAX 6,989.74 +75.55 +1.09% 
CAC 40 3,900.86 +96.08 +2.53%  

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,846.90 closed Jan 3 
Shanghai Comp closed Jan 3 
Taiwan We... 9,025.30 +52.80 +0.59%  
Nikkei 225 10,228.92 -115.62 -1.12%  
Hang Seng 23,436.05 +400.60 +1.74% 
Straits Times 3,235.77 +45.73 +1.43%  

http://finance.yahoo.com/news/Stock...3.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks start 2011 with a big lift

Stock indexes rise to start 2011 after strong manufacturing reports in US, Europe *

David K. Randall, AP Business Writer, On Monday January 3, 2011, 4:56 pm 

NEW YORK (AP) -- Stocks started 2011 with a big lift on Monday, and that could be a promising sign for the rest of the year.

Investors call it the "January barometer." According to the Stock Trader's Almanac, a gain in the Standard and Poor's 500 stock index over the first five days of January has led to annual gains nearly 90 percent of the time.

"All of the forecasts come out of Wall Street, and those expectations for the year give January a nice indicative effect of what the year will look like," said Jeffery Hirsch, the editor of the Stock Trader's Almanac.

Signs that the economy is improving pushed stock indexes higher on the first trading day of the year. Manufacturing activity and construction spending both rose more than analysts were predicting.

The Institute of Supply Management's index of manufacturing activity rose in December for the 17th straight month. Separately, the Commerce Department said construction spending rose 0.4 percent in November.

The Dow Jones industrial average rose 93.24 points, or 0.8 percent, to close at 11,670.75.

The S&P 500 gained 14.23, or 1.1 percent, to 1,271.87. The Nasdaq rose 38.65, or 1.5 percent, to 2,691.52.

The gains were broad. All 10 company groups that make up the S&P index rose. Financial companies led the way with a 2.3 percent jump.

Treasury prices fell as the better economic news weakened demand for low-risk investments. The yield on the 10-year Treasury note, which rises as its price falls, moved up to 3.34 percent from 3.29 percent late Friday.

Bank of America Corp. shot up 6.4 percent to $14.19 after the bank settled a dispute with Fannie Mae and Freddie Mac over soured mortgage investments. That was the best performance among the 30 stocks that make up the Dow index. Intel Corp. had the largest fall, losing 0.9 percent to $20.85.

Small companies, which are considered riskier investments, surged. The Russell 2000, which tracks the performance of smaller stocks, jumped 1.9 percent. That's nearly twice as big as the gain posted by the Dow, which tracks large companies.

That, too, could be part of a historical trend. In a pattern known as the "January effect," smaller companies tend to do better early in the year than large ones. Some of that has to do with traders buying smaller companies early in the year after selling stocks they lost money on in December in order to reap tax benefits, Hirsch said.

In corporate news, Goldman Sachs Group Inc. gained 2.9 percent to $173.05 after the New York Times reported that it bought a stake in Facebook in a deal that valued the social-networking company at $50 billion. Facebook remains a private company, though its shares are traded on private stock exchanges.

Stocks rose throughout Europe earlier in the day after a report showed that manufacturing in countries that use the euro expanded faster than analysts had forecast. The Euro Stoxx 50 index rose 0.6 percent. Benchmark indexes in France and Belgium each rose more than 2 percent.

The dollar edged up 0.2 percent against an index of six heavily traded currencies.

Stocks in the U.S. ended mixed on Friday, the last day of trading in 2010. For many investors, 2010 turned out better than expected. Every major stock market index in the U.S. increased by double digits.

The S&P 500, the market measure used by most professional investors, returned 15.1 percent after dividends. Historically, the index has returned an average of 10.01 percent a year, including dividends.

Stocks ended 2010 especially strong. The S&P gained 20 percent over the last four months of the year, capped by a 7 percent jump in December.

On Monday, rising stocks outnumbered falling shares three to one on the New York Stock Exchange. Trading volume was 1.1 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

A rally that pushed stocks up nearly 7 percent in December took a pause Tuesday as traders shrugged off a pickup in factory orders and a sharp rise in monthly sales from General Motors and Ford.

Stock indexes started out with gains but mostly fell throughout the day, even after a better-than-expected report on factory orders for November. The Dow Jones Industrial average of 30 large company shares wound up slightly higher.

Ryan Detrick, a senior analyst at Schaeffer's Investment Research, said investors were holding off after a sharp jump in stocks on Monday, the first trading day of 2011.

"We had a big start to the year yesterday," Detrick said. The Standard & Poor's 500 index lost 0.1 percent after rising 1.1 percent the day before.

*The NYSE DOW NYSE DOW closed HIGHER +20.43 points +0.18% on Tuesay January 4*
Sym. .........Last .......Change.......... 
Dow 11,691.18 +20.43 +0.18%  
Nasdaq 2,681.25 -10.27 -0.38% 
S&P 500 1,270.20 -1.69 -0.13%  
30-yr Bond 4.4370% +0.0390  

NYSE Volume 5,349,663,500  (prior day 4,886,556,500)
Nasdaq Volume 2,034,615,125  (prior day 1,950,757,500) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 6,013.87 +113.93 +1.93% 
DAX 6,975.35 -14.39 -0.21%  
CAC 40 3,916.03 +15.17 +0.39%  

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,849.50 +2.60 +0.05% 
Shanghai Comp 2,852.65 +44.57 +1.59% 
Taiwan We... 8,997.19 -28.11 -0.31% 
Nikkei 225 10,398.10 +169.18 +1.65% 
Hang Seng 23,668.48 +232.43 +0.99% 
Straits Times 3,250.29 +14.52 +0.45% 

http://finance.yahoo.com/news/Stock...1.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stock rally pauses despite rising factory orders

Stocks end the day mixed after strong factory orders and auto sales *

David K. Randall, AP Business Writer, On Tuesday January 4, 2011, 4:44 pm 

NEW YORK (AP) -- A rally that pushed stocks up nearly 7 percent in December took a pause Tuesday as traders shrugged off a pickup in factory orders and a sharp rise in monthly sales from General Motors and Ford.

Stock indexes started out with gains but mostly fell throughout the day, even after a better-than-expected report on factory orders for November. The Dow Jones Industrial average of 30 large company shares wound up slightly higher.

Ryan Detrick, a senior analyst at Schaeffer's Investment Research, said investors were holding off after a sharp jump in stocks on Monday, the first trading day of 2011.

"We had a big start to the year yesterday," Detrick said. The Standard & Poor's 500 index lost 0.1 percent after rising 1.1 percent the day before.

Investors also received minutes from the Federal Reserve's last policy meeting in December. Fed officials said signs of economic growth weren't enough to cut back its $600 billion bond-buying program, which is aimed at encouraging spending by keeping interest rates low. Fed officials said more time was needed before they would consider changing their plans.

Automakers reported December and year-end sales figures. General Motors Co. rose 2.3 percent to $37.90 after reporting that its sales of cars and trucks in the U.S. rose 6.3 percent last year. Ford Motor Corp. gained 0.8 percent to $17.38 after reporting that its sales rose 15 percent in 2010.

"These companies finally have the right cost structure and all the players on board to make them profitable businesses," said Frank Ingarra, a portfolio manager at Hennessy Funds. "The companies that survived are benefiting from facing less competition."

The Dow rose 20.43 points, or 0.2 percent, to end the day at 11,691.18. The broader S&P 500 index dipped 1.69 points, or 0.1 percent, to close at 1,270.20. The Nasdaq lost 10.27 points, or 0.4 percent, to 2,681.25.

Grocery store chains Supervalu Inc., Safeway Inc., and Whole Foods Market Inc. each fell more than 3 percent after a round of analyst downgrades.

Alcoa Inc. jumped 4.6 percent to $16.52 to lead the 30 stocks that make up the Dow. McDonald's Corp. had the largest fall, losing 3 percent to $74.31.

Treasury prices were mixed after the Fed minutes were released. The yield on the 10-year Treasury note, which moves opposite its price, edged down to 3.33 percent from 3.34 percent late Monday.

Nearly two stocks fell for every one that rose on the New York Stock Exchange. Trading volume was 1.1 billion shares.


----------



## Vicki

> A rally that pushed stocks up nearly 7 percent in December took a pause Tuesday as traders shrugged off a pickup in factory orders and a sharp rise in monthly sales from General Motors and Ford.




Just on the subject of GM.
Wasn't it only a short while ago that they weren't profitable enough to stay in business?

They've now launched an IPO at around $33.00 I think, & paid back some of the TARP money, But I don't fully understand why all of sudden they're business is so viable?

People who bought shares might want to hope that they can keep selling cars into pos. another GFC in the near future.

Vicki


----------



## bigdog

Source: http://finance.yahoo.com

A surprising jump in hiring sent bond prices lower and lifted the dollar Wednesday. The Dow Jones industrial average edged higher for the third day in a row.

A survey from payroll processor ADP found that private companies added 297,000 jobs last month, nearly triple the number that economists were expecting. The report is the first chance for investors to see how strong the job market was in December.

The next look comes Friday morning when the Labor Department releases its monthly report on total U.S. payrolls and the unemployment rate. Economists expect the rate will dip to 9.7 percent from 9.8 percent.

*The NYSE DOW NYSE DOW closed HIGHER +31.71 points +0.27% on Wednesday January 5*
Sym. .........Last .......Change.......... 
Dow 11,722.89 +31.71 +0.27% 
Nasdaq 2,702.20 +20.95 +0.78% 
S&P 500 1,276.56 +6.36 +0.50% 
30-yr Bond 4.5510% +0.1140  

NYSE Volume 5,273,315,500  (prior day 5,349,663,500) 
Nasdaq Volume 2,082,016,875  (prior day 2,034,615,125) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 6,043.86 +29.99 +0.50% 
DAX 6,939.82 -35.53 -0.51% 
CAC 40 3,904.61 -11.42 -0.29% 

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,820.90 -28.60 -0.59% 
Shanghai Comp 2,838.59 -14.06 -0.49% 
Taiwan We... 8,846.31 -150.88 -1.68% 
Nikkei 225 10,380.77 -17.33 -0.17%  
Hang Seng 23,757.82 +89.34 +0.38% 
Straits Times 3,254.25 +3.96 +0.12%

http://finance.yahoo.com/news/Jump-in-hiring-sends-bonds-apf-3820982577.html?x=0

*Jump in hiring sends bonds lower and stocks higher

Treasurys slide after a report shows hiring shot higher in December; stocks rise *

Matthew Craft, AP Business Writer, On Wednesday January 5, 2011, 4:41 pm 

NEW YORK (AP) -- A surprising jump in hiring sent bond prices lower and lifted the dollar Wednesday. The Dow Jones industrial average edged higher for the third day in a row.

A survey from payroll processor ADP found that private companies added 297,000 jobs last month, nearly triple the number that economists were expecting. The report is the first chance for investors to see how strong the job market was in December.

The next look comes Friday morning when the Labor Department releases its monthly report on total U.S. payrolls and the unemployment rate. Economists expect the rate will dip to 9.7 percent from 9.8 percent.

The unexpectedly high jobs survey from ADP suggests that the Labor Department report will also be strong. But economists cautioned against reading too much into the ADP figures, which also take into account weekly figures on claims for unemployment insurance, said Thomas Simons, market economist at Jefferies & Co.

"When the ADP number comes in strong, it doesn't mean all the other labor reports will come in strong," Simons said. "But it does show that the labor market is improving. You have to take all these numbers together and come up with a mosaic view."

Signs that the economy is improving weakened demand for low-risk investments. Treasurys prices slid, pushing their yields higher. The yield on the 10-year Treasury note rose to 3.47 percent from 3.33 percent late Tuesday. The yield helps set interest rates on many kinds of loans including mortgages.

The higher rates in the Treasury market helped push the dollar up against other currencies. The dollar rose 1 percent against an index of six other currencies.

The Dow gained 31.71 points, or 0.3 percent, to 11,722.8.

The Standard & Poor's 500 index rose 6.36, or 0.5 percent, to 1,276.56. The Nasdaq rose 20.95, or 0.8 percent, to 2,702.20.

Financial companies led the 10 groups that make up the S&P index with a 1.2 percent gain. Utilities did the worst, losing 0.6 percent.

American Express Co. rose 2.9 percent to $45.04, the largest increase among the 30 stocks that make up the Dow. Intel Corp. had the largest fall, slumping 1 percent to $20.94.

A survey from the Institute for Supply Management showed that service companies reported more new orders and higher prices last month. The ISM's monthly index measuring the economic strength of U.S. service providers rose to its highest level since May 2006.

Service providers such as retailers, hotels, banks and construction companies employ about 80 percent of the country's work force. But their growth has lagged behind manufacturers since the recession ended June 2009.

Qualcomm Inc. rose 2.1 percent to $52.03 after the technology company said it had agreed to buy chip maker Atheros Communications Inc. for $3.2 billion. The deal is aimed at giving Qualcomm, which makes chips for cell phones, a foothold in the growing market for tablet computers.

BJ's Wholesale Club Inc. fell 2.2 percent to $45.96 after the retailer said it would cut jobs and close five stores.

Two shares rose for every one that fell on the New York Stock Exchange. Volume came to 1 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks slipped Thursday after the government reported an increase in applications for unemployment benefits last week.

The Labor Department said Thursday that 409,000 people made first-time claims for benefits. That's up 18,000 from the previous week, when applications fell to their lowest level in more than two years. The number of applications suggests that companies are adding jobs, but slowly.

The report came a day after ADP estimated that companies added nearly 300,000 jobs last month, far more than the 100,000 economists expected. That report pushed stock prices higher and Treasury prices lower as investors became more optimistic about the job market.

*The NYSE DOW NYSE DOW closed HIGHER -25.58 points -0.22% onThursday January 6*
Sym. .........Last .......Change.......... 
Dow 11,697.31 -25.58 -0.22%  
Nasdaq 2,709.89 +7.69 +0.28%  
S&P 500 1,273.85 -2.71 -0.21% 
30-yr Bond 4.5340% -0.0170  

NYSE Volume 5,440,569,500 (prior day 5,273,315,500)
Nasdaq Volume 2,122,733,000 (prior day 2,082,016,875) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 6,019.51 -24.35 -0.40%  
DAX 6,981.39 +41.57 +0.60%  
CAC 40 3,904.42 -0.19 -0.00%  

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,831.10 +10.20 +0.21%  
Shanghai Comp 2,824.20 -14.40 -0.51%  
Taiwan We... 8,883.21 +36.90 +0.42% 
Nikkei 225 10,529.76 +148.99 +1.44% 
Hang Seng 23,786.30 +28.48 +0.12% 
Straits Times 3,279.70 +25.45 +0.78%  

http://finance.yahoo.com/news/Stock...3.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Stocks end lower after unemployment claims rise

Stocks edge lower after government reports an increase in claims for unemployment benefits *

Chip Cutter and Matthew Craft, AP Business Writers, On Thursday January 6, 2011, 4:39 pm 

NEW YORK (AP) -- Stocks slipped Thursday after the government reported an increase in applications for unemployment benefits last week.

The Labor Department said Thursday that 409,000 people made first-time claims for benefits. That's up 18,000 from the previous week, when applications fell to their lowest level in more than two years. The number of applications suggests that companies are adding jobs, but slowly.

The report came a day after ADP estimated that companies added nearly 300,000 jobs last month, far more than the 100,000 economists expected. That report pushed stock prices higher and Treasury prices lower as investors became more optimistic about the job market.

In a week with several reports on employment, the most important one will arrive on Friday morning when the Labor Department releases its monthly survey of all U.S. payrolls and the unemployment rate. Economists expect the rate fell to 9.7 percent in December from 9.8 percent the previous month.

Many retailers fell after reporting weaker sales in December. Target Corp. fell 7 percent to $54.93 and Gap Inc. fell 7 percent to $20.70. Macy's Inc. fell 4 percent to $23.97.

A blizzard in the Northeast hurt sales after Christmas. Retail sales were strong in November since many customers shopped earlier in the holiday season this year. Analysts still expect overall retail spending in November and December to increase by the largest amount since 2006.

The Dow Jones industrial average fell 25.58 points, or 0.2 percent, to close at 11,697.31.

The Standard & Poor's 500 index fell 2.71, or 0.2 percent, to close at 1,273.85. The Nasdaq composite index rose 7.69, or 0.3 percent, to 2,709.89.

Three stocks fell for every two that rose on the New York Stock Exchange. Volume was 1 billion shares.

Bond prices rose, sending their yields lower. The yield on the 10-year Treasury note fell to 3.40 percent from 3.46 percent late Wednesday. The yield is used to set interest rates on many kinds of loans including mortgages.

Monsanto Co. rose 2 percent to $70.79 after the company reported that higher sales of corn, soybean, vegetable and cotton seeds helped it become profitable again.

Constellation Brands Inc. fell 8 percent to $19.84 after the maker of Robert Mondavi wine and Svedka vodka said revenue fell 2 percent on weak wine sales.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks end lower but gain overall for 6th week

A disappointing jobs report dragged stocks lower Friday. Banks took a hit after a Massachusetts court upheld a ruling in a foreclosure case against U.S. Bancorp and Wells Fargo & Co. that could lead to more trouble for lenders.

The Labor Department said employers added 103,000 jobs in December, less than analysts expected. Job growth has remained sluggish in the U.S. since the recession ended in June 2009.

A separate survey found that the unemployment rate fell to 9.4 percent last month. That's a decrease from 9.8 percent in November and the lowest rate in 19 months. But the drop came partly because many people gave up looking for work.

*The NYSE DOW NYSE DOW closed LOWER -22.55 points -0.19%     on Friday January 7*
Sym. .........Last .......Change.......... 
Dow 11,674.76 -22.55 -0.19% 
Nasdaq 2,703.17 -6.72 -0.25% 
S&P 500 1,271.50 -2.35 -0.18% 
30-yr Bond 4.4900% -0.0440 


NYSE Volume 5,659,251,000 (prior day 5,440,569,500) 
Nasdaq Volume 1,994,591,625 (prior day 2,122,733,000) 

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,984.33 -35.18 -0.58% 
DAX 6,947.84 -33.55 -0.48% 
CAC 40 3,865.58 -38.84 -0.99%  

Asia Pacific
Symbol ........... Last ....Change.......
ASX All Ord 4,812.00 -19.10 -0.40% 
Shanghai Comp 2,838.80 +14.60 +0.52% 
Taiwan We... 8,782.72 -100.49 -1.13% 
Nikkei 225 10,541.04 +11.28 +0.11%  
Hang Seng 23,686.63 -99.67 -0.42% 
Straits Times 3,261.35 -18.35 -0.56%

http://finance.yahoo.com/news/JPMor...7.html?x=0&sec=topStories&pos=6&asset=&ccode=

*JPMorgan, other banks lead stocks lower

Weak jobs report and a ruling against banks on foreclosures send stock prices lower *

Chip Cutter and Matthew Craft, AP Business Writers, On Friday January 7, 2011, 5:02 pm 

NEW YORK (AP) -- A disappointing jobs report dragged stocks lower Friday. Banks took a hit after a Massachusetts court upheld a ruling in a foreclosure case against U.S. Bancorp and Wells Fargo & Co. that could lead to more trouble for lenders.

The Labor Department said employers added 103,000 jobs in December, less than analysts expected. Job growth has remained sluggish in the U.S. since the recession ended in June 2009.

A separate survey found that the unemployment rate fell to 9.4 percent last month. That's a decrease from 9.8 percent in November and the lowest rate in 19 months. But the drop came partly because many people gave up looking for work.

"On balance, this was a pretty disappointing report," said Hugh Johnson, chairman and chief investment officer of Johnson Advisors. It "suggests we have a long way to go to recover the 8.4 million jobs that we lost during the crisis."

The Dow Jones industrial average fell 22.55 points, or 0.2 percent, to close at 11,674.76.

The Standard & Poor's 500 index fell 2.35, or 0.2 percent, to 1,271.50. The Nasdaq composite fell 6.72, or 0.3 percent, to 2,703.17.

JPMorgan Chase & Co. and Bank of America Corp. were two of the biggest losers among the 30 stocks that make up the Dow. Banks fell as investors worried that the foreclosure ruling in Massachusetts could set a precedent for other cases against lenders. Bank of America, the largest holder of mortgages in the U.S., fell 1 percent to $14.25. JPMorgan lost 2 percent to $43.64.

The highest court in Massachusetts found that U.S. Bancorp and Wells Fargo failed to prove that they owned the mortgages in two cases where homeowners were in foreclosure. Lenders have been under scrutiny from law enforcement officials since last fall over accusations that they bungled foreclosure proceedings and had shoddy record-keeping practices.

"This court ruling is a reminder that banks are still facing some headwinds left over from the financial crisis," said Alan Gayle, senior investment strategist at RidgeWorth Investments. "It's going to be tough sledding for the financial industry until they get these mortgage problems sorted out."

Wells Fargo fell 2 percent to $31.50. U.S. Bancorp fell 0.8 percent to $26.09.

In testimony on Capitol Hill, Federal Reserve Chairman Ben Bernanke said he was optimistic that the economy would grow this year. But he also said it could take up to five years for the unemployment rate to move significantly lower.

Bond prices rose, sending their yields lower. The yield on the 10-year Treasury note fell to 3.32 percent from 3.40 percent late Thursday. The yield helps set interest rates on many kinds of loans including mortgages.

KB Home rose 6 percent to $15.25 after the homebuilder surprised Wall Street with a profit.

Falling stocks outnumbered rising ones on the New York Stock Exchange by a small margin. Volume was 1 billion shares.

9205


----------



## bigdog

Source: http://finance.yahoo.com

Stocks indexes were mostly lower on Monday, with telecommunication companies leading the way down.

AT&T Inc. fell the most out of the 30 stocks that make up the Dow Jones industrial average. Its competitor, Verizon Wireless, is expected to announce Tuesday that it will start selling Apple Inc.'s iPhone, breaking AT&T's long hold on iPhone customers.

AT&T's stock dropped 1.8 percent to $28.34. Apple gained 1.8 percent to $342.45.

Stocks spent most of the day lower ahead of the latest round of corporate earnings reports. After the market closed, Alcoa Inc. reported that rising sales of aluminum products helped it turn a profit of 24 cents a share in its fourth quarter. The results topped analysts' estimates of 18 cents a share.

*The NYSE DOW NYSE DOW closed LOWER -37.31 points -0.32% on Monday January 10*
Sym. .........Last .......Change.......... 
Dow 11,637.45 -37.31 -0.32%  
Nasdaq 2,707.80 +4.63 +0.17%  
S&P 500 1,269.75 -1.75 -0.14% 
30-yr Bond 4.4880% -0.0020  

NYSE Volume 4,552,878,000  (prior day 5,659,251,000)
Nasdaq Volume 1,887,066,625  (prior day 1,994,591,625)

*Europe*
Symbol.... ......Last .....Change....... 
FTSE 100 5,956.30 -28.03 -0.47% 
DAX 6,857.06 -90.78 -1.31% 
CAC 40 3,802.03 -63.55 -1.64%  

*Asia Pacific*
Symbol ........... Last ....Change.......
ASX All Ord 4,818.70 +6.70 +0.14%  
Shanghai Comp 2,792.38 -46.42 -1.64%  
Taiwan We... 8,817.88 +35.16 +0.40% 
Nikkei 225 10,541.04 +11.28 +0.11%  
Hang Seng 23,527.26 -159.37 -0.67% 
Straits Times 3,229.27 -32.08 -0.98% 

http://finance.yahoo.com/news/Stocks-mixed-ahead-of-Alcoa-apf-327577487.html?x=0

*Telecoms lead stocks lower; Europe falls

Stocks mixed ahead of start of earnings season; Duke Energy and DuPont reach deals 
* 

David K. Randall and Matthew Craft, AP Business Writers, On Monday January 10, 2011, 5:09 pm 

NEW YORK (AP) -- Stocks indexes were mostly lower on Monday, with telecommunication companies leading the way down.

AT&T Inc. fell the most out of the 30 stocks that make up the Dow Jones industrial average. Its competitor, Verizon Wireless, is expected to announce Tuesday that it will start selling Apple Inc.'s iPhone, breaking AT&T's long hold on iPhone customers.

AT&T's stock dropped 1.8 percent to $28.34. Apple gained 1.8 percent to $342.45.

Stocks spent most of the day lower ahead of the latest round of corporate earnings reports. After the market closed, Alcoa Inc. reported that rising sales of aluminum products helped it turn a profit of 24 cents a share in its fourth quarter. The results topped analysts' estimates of 18 cents a share.

The week started with news of two big corporate deals. DuPont, a major chemical company, said it would buy a Danish food maker for $5.8 billion. Duke Energy Corp. said it will buy Progress Energy Inc. in a $13 billion deal that would create one of the country's largest utilities. Duke fell 1.2 percent to $17.58.

The Dow ended the day down 37.31 points, or 0.3 percent, to close at 11,637.45

The Standard & Poor's 500 lost 1.75, or 0.1 percent, to 1,269.75. The Nasdaq composite gained 4.63, or 0.2 percent, to 2,707.80.

Losses were spread across the market. Five of the 10 industry groups that make up the S&P 500 index fell. Telecommunications companies fell the most, 1 percent, followed by utilities and energy. 3M Co. led the 30 stocks that make up the Dow with a 1 percent gain.

The Nasdaq index posted small gains thanks in part to the shares of Apple as well as Netflix Inc., which jumped 4.8 percent. Playboy Enterprises Inc. soared 17 percent after agreeing to be taken private by a group of investors led by the company's founder, Hugh Hefner.

European stocks fell after a German magazine reported that France and Germany are pressing Portugal to accept outside aid to keep Europe's financial crisis from spreading. Portugal has denied that it needs to do so. If the country asks for help it will join Greece and Ireland as the third member of the European Union to tap its neighbors for a bailout.

Italy, Spain and Portugal are each scheduled to sell bonds this week. If the sales go poorly it could further weaken confidence in Europe's financial system.

"Italy and Spain are the big wildcards," said Paul Zemsky, the head of asset allocation at ING Investment Management. "If they got into trouble there's not enough money to bail them out."

No major economic reports came out Monday. On Friday, the Labor Department said that employers added fewer jobs in December than analysts expected. That report helped push the S&P down 0.2 percent.

Oil companies fell after a pipeline in Alaska was shut down because of a leak. Exxon Mobil Corp. fell 0.6 percent and Chevron Corp. gave up 1 percent.

Bond prices rose slightly, pushing their yields slightly lower. The yield on the 10-year Treasury note fell to 3.28 percent from 3.33 percent late Friday. The yield is used to set interest rates on many kinds of loans including mortgages.

Rising shares outnumbered falling shares by a slight margin on the New York Stock Exchange. Volume was 1.1 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Strong profits from major retailers and an upgrade to Hewlett-Packard helped push stocks higher on Tuesday.

Sears Holdings Corp. and Tiffany & Co. raised their earnings forecasts. Sears said it could earn twice as much as analysts had predicted this year. Tiffany said brisk holiday sales would push earnings higher.

"Consumer stocks have been left for dead," said Matt Lloyd, the chief investment strategist at Advisors Asset Management. Consumer companies cut so many costs during the recession that any slight bump in spending "has a much bigger effect on margins," he said.

*The NYSE DOW NYSE DOW closed HIGHER +34.43 points +0.30% on Tuesday January 11*
Sym .......Last .......Change.......... 
Dow 11,671.88 +34.43 +0.30% 
Nasdaq 2,716.83 +9.03 +0.33% 
S&P 500 1,274.48 +4.73 +0.37%  
30-yr Bond 4.4830% -0.0050  

NYSE Volume 4,489,654,000  (prior day 4,552,878,000) 
Nasdaq Volume 1,913,339,375  (prior day 1,887,066,625)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,014.03 +57.73 +0.97% 
DAX 6,941.57 +84.51 +1.23% 
CAC 40 3,861.92 +59.89 +1.58% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,814.90 -3.80 -0.08%  
Shanghai Comp 2,805.40 +13.03 +0.47% 
Taiwan We... 8,931.36 +113.48 +1.29%  
Nikkei 225 10,510.68 -30.36 -0.29%  
Hang Seng 23,760.34 +233.08 +0.99% 
Straits Times 3,241.49 +12.22 +0.38% 

http://finance.yahoo.com/news/Stron...7.html?x=0&sec=topStories&pos=7&asset=&ccode=

*Stronger earnings reports push stocks higher

Stocks rise as retailers predict better results; European markets jump *

David K. Randall and Matthew Craft, AP Business Writers, On Tuesday January 11, 2011, 5:54 pm 

NEW YORK (AP) -- Strong profits from major retailers and an upgrade to Hewlett-Packard helped push stocks higher on Tuesday.

Sears Holdings Corp. and Tiffany & Co. raised their earnings forecasts. Sears said it could earn twice as much as analysts had predicted this year. Tiffany said brisk holiday sales would push earnings higher.

"Consumer stocks have been left for dead," said Matt Lloyd, the chief investment strategist at Advisors Asset Management. Consumer companies cut so many costs during the recession that any slight bump in spending "has a much bigger effect on margins," he said.

Hewlett-Packard Co. was among the leaders in the Dow Jones industrial average after analysts at UBS raised their earnings estimates for the computer maker.

The Dow rose 34.43 points, or 0.3 percent, to close at 11,671.88. The Standard & Poor's 500 gained 4.73, or 0.4 percent, to 1,274.48. The Nasdaq rose 9, or 0.3 percent, to 2,716.83.

Verizon Communications Inc. and AT&T Inc. were the Dow's laggards. Verizon said it will start selling a version of Apple Inc.'s iPhone on Feb. 10, breaking AT&T's hold on the popular phone. AT&T had been the exclusive carrier since the phone launched in 2007. Verizon fell 1.6 percent to $35.36. AT&T fell 1.5 percent to $27.91.

Gains were spread across the market. Energy companies rose 1.6 percent to lead the S&P 500 index. Three of the 10 industry groups in the index fell, led by telecommunications companies. They fell 1.5 percent.

European stock markets jumped after Japan said it would buy bonds being issued to finance Europe's bailout fund. That would help send bond yields down and ease debt pressures on countries like Ireland and Portugal. The Euro Stoxx 50, which tracks blue chip companies in countries that use the euro, rose 1.1 percent.

Supervalu Inc. fell 11 percent to $7.59 after the supermarket chain said it lost money in its last quarter. Homebuilder Lennar Corp. gained 7 percent, to $20.24, after its results topped analysts' forecasts.

Bond prices fell, sending their yields higher. The yield on the 10-year Treasury note rose to 3.34 percent from 3.29 percent late Monday. The yield is used to set interest rates on many kinds of loans including mortgages.

Roughly three stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume was 4.1 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

*ALL INDEXES IN GREEN TODAY!!*

*The Dow's highest close since Aug. 11, 2008.*

Hopes that banks would start raising their dividends sent financial stocks sharply higher Wednesday. Indexes closed at their highest levels in more than two years after a successful bond auction in Portugal eased worries about Europe's debt crisis.

Portugal borrowed $1.6 billion at a lower long-term interest rate than many expected. Investors have been concerned that Portugal will struggle with its debts and become the third European country to require a bailout after Greece and Ireland.

Analysts cautioned that it's still possible Portugal could need a financial lifeline if its economy slips back into recession this year.

*The NYSE DOW NYSE DOW closed HIGHER +83.56 points +0.72% on Wednesday January 12*
Sym .......Last .......Change.......... 
Dow 11,755.44 +83.56 +0.72% 
Nasdaq 2,737.33 +20.50 +0.75% 
S&P 500 1,285.96 +11.48 +0.90% 
30-yr Bond 4.5160% +0.0330 

NYSE Volume 4,733,707,500 (prior day 4,489,654,000) 
Nasdaq Volume 1,882,021,875 (prior day 1,913,339,375)

*Europe*
Symbol... ......Last .....Change.......  
FTSE 100 6,050.72 +36.69 +0.61% 
DAX 7,068.78 +127.21 +1.83% 
CAC 40 3,945.07 +83.15 +2.15%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,831.90 +17.00 +0.35% 
Shanghai Comp 2,821.00 +15.60 +0.56% 
Taiwan We... 8,965.00 +33.64 +0.38% 
Nikkei 225 10,512.80 +2.12 +0.02% 
Hang Seng 24,125.61 +365.27 +1.54% 
Straits Times 3,244.94 +3.45 +0.11%  

http://finance.yahoo.com/news/Stock...9.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks close higher as worries about Europe ease

Stocks rise after a bond sale by Portugal eases worries over Europe's debt crisis; Banks jump *

Chip Cutter and Matthew Craft, AP Business Writers, On Wednesday January 12, 2011, 4:55 pm 

NEW YORK (AP) -- Hopes that banks would start raising their dividends sent financial stocks sharply higher Wednesday. Indexes closed at their highest levels in more than two years after a successful bond auction in Portugal eased worries about Europe's debt crisis.

Portugal borrowed $1.6 billion at a lower long-term interest rate than many expected. Investors have been concerned that Portugal will struggle with its debts and become the third European country to require a bailout after Greece and Ireland.

Analysts cautioned that it's still possible Portugal could need a financial lifeline if its economy slips back into recession this year.

"Things are not resolved completely here," said Rob Lutts, president and chief investment officer of Cabot Money Management.

Banks led the market higher after an analyst at Wells Fargo Securities issued a report saying their earnings should grow much faster than other companies this year. He also said banks were likely to distribute more of their earnings to shareholders as dividends.

JPMorgan Chase & Co. rose 2.5 percent to $44.71 after the company's CEO, Jamie Dimon, told CNBC late Tuesday that the bank hopes to raise its dividend in the second quarter. JPMorgan's stock led the 30 large companies that make up the Dow Jones industrial average, followed closely by Bank of America. Bank of America gained 2 percent to $14.99.

The Dow rose 83.56 points, or 0.7 percent, to close at 11,755.44. That's the Dow's highest close since Aug. 11, 2008.

The Standard & Poor's 500 index also reached its highest level since Aug. 28, 2008. The index gained 11.48, or 0.9 percent, to 1,285.96.

The Nasdaq composite rose 20.50, or 0.8 percent, to 2,737.33.

ITT Corp. jumped 16 percent to $61.50 after the defense contractor said it would split itself into three publicly traded companies. ITT plans to separate its defense and information, water technology and industrial products divisions. That should make it easier for investors to understand the company's various businesses, said Robert Pavlik, chief market strategist with Banyan Partners.

American International Group Inc. slipped 1 percent to $58.40 after the company agreed to sell its stake in Taiwan's third-largest insurer for $2.2 billion. The deal is part of AIG's plan to raise money to repay the $182 billion it received in government bailout funds.

More than two stocks rose for every one that fell on the New York Stock Exchange. Volume was 964 million shares.


----------



## KurwaJegoMac

Hi Bigdog,

Just wanted to say thank you for taking the time to post this information every day.

It's very appreciated


----------



## bigdog

Source: http://finance.yahoo.com

Stocks dipped Thursday after a report found that more people applied for unemployment benefits last week.

The Labor Department said first-time applications for unemployment benefits rose 35,000 from the week before to 445,000. It was the highest level since October and above what economists had predicted.

"It was a disappointing number," said Kim Caughey Forrest, an analyst at Fort Pitt Capital.


*The NYSE DOW NYSE DOW closed LOWER -23.54 points -0.20% on Thursday January 13*
Sym .......Last .......Change.......... 
Dow 11,731.90 -23.54 -0.20% 
Nasdaq 2,735.29 -2.04 -0.07% 
S&P 500 1,283.76 -2.20 -0.17% 
30-yr Bond 4.4930% -0.0230  

NYSE Volume 4,778,817,000  (prior day 4,733,707,500)
Nasdaq Volume 1,934,327,000  (prior day 1,882,021,875)

*Europe*
*Symbol... ......Last .....Change....... *
FTSE 100 6,023.88 -26.84 -0.44%  
DAX 7,075.11 +6.33 +0.09% 
CAC 40 3,974.83 +29.76 +0.75%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,901.50 +69.60 +1.44% 
Shanghai Comp 2,827.63 +6.32 +0.22% 
Taiwan We... 8,975.58 +10.58 +0.12 
Nikkei 225 10,589.76 +76.96 +0.73% 
Hang Seng 24,238.98 +113.37 +0.47% 
Straits Times 3,255.87 +10.93 +0.34%  

http://finance.yahoo.com/news/Stock...1.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks dip after unemployment applications rise

Stocks dip after government says more people applied for unemployment benefits last week* 

Chip Cutter and David K. Randall, AP Business Writers, On Thursday January 13, 2011, 4:48 pm 

NEW YORK (AP) -- Stocks dipped Thursday after a report found that more people applied for unemployment benefits last week.

The Labor Department said first-time applications for unemployment benefits rose 35,000 from the week before to 445,000. It was the highest level since October and above what economists had predicted.

"It was a disappointing number," said Kim Caughey Forrest, an analyst at Fort Pitt Capital.

Merck & Co. fell 6.6 percent to $34.69 after announcing that clinical trials of its cardiovascular drug vorapaxar would be discontinued for some patients. Merck fell the most among the 30 stocks that make up the Dow Jones industrial average. Home Depot Inc., which gained 1.3 percent, led the index.

The Dow fell 23 points, or 0.2 percent, to 11,731.9. The Standard and Poor's 500 lost 2, or 0.2 percent, to 1,283.76. The Nasdaq composite lost 2, or 0.1 percent, to 2,735.29.

Losses were spread across the market. Seven of the 10 company groups that make up the S&P 500 fell. Materials companies had the largest move, falling 0.8 percent.

Whole Foods Market Inc. jumped 4.6 percent to $52.31 after an analyst said that the company's shares would continue to rise because its customers are willing to pay higher costs for food. The company is up nearly 80 percent over the last year.

The Labor Department also reported Thursday that wholesale prices in December rose by the largest amount in nearly a year, as a result of higher energy and food costs. Most other prices rose only slightly, suggesting inflation isn't spreading through the economy.

A decline in the dollar helped limit stock losses. The dollar lost 1.1 percent against an index of six currencies after successful bond auctions by Spain and Italy pushed the euro higher. The dollar's slide helps U.S. companies that rely on exports by making their prices more competitive overseas.

Intel Corp. reported that its income rose 48 percent last quarter, easily beating analyst estimates.

Bond prices rose, pushing their yields lower. The yield on the 10-year Treasury note fell to 3.31 percent from 3.35 percent late Wednesday. That yield is used to set interest rates on many kinds of loans including mortgages.

Four shares rose for every three that fell on the New York Stock Exchange. Volume came to 931 million shares.


----------



## bigdog

Source: http://finance.yahoo.com

*This thread is just about to hit 100,000 views!*

Dow closes at its highest level since June '08, lifted by JPMorgan Chase and other banks 

The Dow gained 1 percent for the week, its seventh week of gains. The last time it had a rising streak that long was in the seven weeks ended April 23, 2010.

The S&P index rose 1.7 percent over the week. The Nasdaq jumped 1.9 percent

JPMorgan Chase & Co. and other banks drove stock indexes higher Friday. The Dow Jones industrial average rose to its highest level in two and a half years.

JPMorgan rose 1 percent after reporting that its income soared 47 percent in the fourth quarter. The bank set aside less money to cover bad loans and said it expected to get permission from the Federal Reserve to raise its dividend.

Wells Fargo & Co., Bank of America Corp. and other large banks also rose on hopes that they too would be able to raise dividends. Banks slashed their dividends during the financial crisis to conserve cash. Investors have been urging banks to raise their dividends now that many of them are making money again.

The Dow Jones industrial average gained 55.48 points, or 0.5 percent, to 11,787.38. It was the highest close for the Dow since June 25, 2008.

*The NYSE DOW NYSE DOW closed HIGHER +55.48 points +0.47% on Friday January 14*
Sym .......Last .......Change..........  
Dow 11,787.38 +55.48 +0.47% 
Nasdaq 2,755.30 +20.01 +0.73% 
S&P 500 1,293.24 +9.48 +0.74% 
30-yr Bond 4.5310% +0.0380  

NYSE Volume 5,248,402,500  (prior day 4,778,817,000)
Nasdaq Volume 2,034,477,250   (prior day 1,934,327,000) 

*Europe*
Symbol... ......Last .....Change.......  
FTSE 100 6,002.07 -21.81 -0.36%  
DAX 7,075.70 +0.59 +0.01% 
CAC 40 3,983.28 +8.45 +0.21%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,908.60 +7.10 +0.14% 
Shanghai Comp 2,790.68 -37.03 -1.31%  
Taiwan We... 8,972.51 -3.07 -0.03%
Nikkei 225 10,499.04 -90.72 -0.86%  
Hang Seng 24,283.23 +44.25 +0.18% 
Straits Times 3,245.96 -9.91 -0.30% 

http://finance.yahoo.com/news/Banks...ontent/main/1374906367//date/desc/11/s3326903

*Stock indexes gain for seventh straight week

Dow closes at its highest level since June '08, lifted by JPMorgan Chase and other banks *

Matthew Craft and David K. Randall, AP Business Writers, On Friday January 14, 2011, 6:00 pm 

NEW YORK (AP) -- JPMorgan Chase & Co. and other banks drove stock indexes higher Friday. The Dow Jones industrial average rose to its highest level in two and a half years.

JPMorgan rose 1 percent after reporting that its income soared 47 percent in the fourth quarter. The bank set aside less money to cover bad loans and said it expected to get permission from the Federal Reserve to raise its dividend.

Wells Fargo & Co., Bank of America Corp. and other large banks also rose on hopes that they too would be able to raise dividends. Banks slashed their dividends during the financial crisis to conserve cash. Investors have been urging banks to raise their dividends now that many of them are making money again.

The Dow Jones industrial average gained 55.48 points, or 0.5 percent, to 11,787.38. It was the highest close for the Dow since June 25, 2008.

The Standard & Poor's 500 index rose 9.48, or 0.7 percent, to 1,293.24. The Nasdaq rose 20.01, or 0.7 percent, to 2,755.30.

Gains were spread across the market. Consumer staples companies were the only one of the 10 company groups that make up the S&P 500 index to fall. Financial companies gained the most, 1.7 percent.

The Labor Department reported that consumer prices rose 0.5 percent last month, the largest increase since June 2009. However, 80 percent of the increase was due to higher gas prices, meaning that the risk of widespread inflation remains low.

"Prices of oil, corn and wheat are all way up," said Tom di Galoma, head of fixed-income trading at Guggenheim Partners in New York. "But at the end of the day, if the unemployment rate is at 9.4 percent, there's not enough demand to drive inflation higher. People just aren't spending that much."

Without food and energy costs, consumer prices increased only 0.1 percent for the second straight month. This "core" inflation rate has gained just 0.8 percent in the past year.

In a separate report, the Commerce Department said retail sales rose in December for the sixth month in a row, driven by gains in automobile and furniture sales.

Treasury prices fell slightly. The yield on the benchmark 10-year Treasury note rose to 3.32 percent from 3.30 percent late Thursday. The yield is used by lenders to set interest rates on mortgages and other loans.

The Dow gained 1 percent for the week, its seventh week of gains. The last time it had a rising streak that long was in the seven weeks ended April 23, 2010.

The S&P index rose 1.7 percent over the week. The Nasdaq jumped 1.9 percent.

Two stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 4.7 billion shares.

9949


----------



## bigdog

Source: http://finance.yahoo.com

The second trading week of 2011 comes to a close as investors look forward to a three day weekend with American markets closed on Monday in observance of the Martin Luther King Jr. holiday.

The euro currency was under pressure on Monday as European finance ministers disagreed over how to tackle the debt crisis, while stock markets struggled on a light trading day amid worries about Chinese growth.

The euro slipped to $1.3293 as European finance ministers' meetin Brussels. All eyes are on Germany, to see if Europe's largest economy and financier will resist boosting the size of the EU bailout fund.

"Indecision on the matter of the size of the fund will continue to dominate sentiment over the coming days," said Michael Hewson of CMS Markets.

Also weighing on the euro this week will be a confidence vote Tuesday of Irish Prime Minister Brian Cowen amid sharp criticism of his handling of Ireland's debt woes, which led to an expensive international rescue effort.

*The NYSE DOW NYSE DOW closed Monday in observance of the Martin Luther King Jr. holiday.*
Sym .......Last .......Change.......... 
Dow 11,787.38  
Nasdaq 2,755.30 
S&P 500 1,293.24  
30-yr Bond 4.5310%  

NYSE Volume 5,248,402,500 
Nasdaq Volume 2,034,477,250

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,985.70 -16.37 -0.27%  
DAX 7,078.06 +2.36 +0.03%  
CAC 40 3,975.41 -7.87 -0.20% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,872.60 -36.00 -0.73% 
Shanghai Comp 2,707.10 -84.24 -3.02% 
Taiwan We... 8,925.09 -74.41 -0.83%  
Nikkei 225 10,502.86 +3.82 +0.04%  
Hang Seng 24,156.97 -126.26 -0.52% 
Straits Times 3,238.63 -7.33 -0.23% 

http://au.finance.yahoo.com/news/Euro-slips-as-EU-discusses-apf-2708348268.html?x=0

*Euro slips as EU discusses bailout strategy

Euro down as EU ministers talk bailout strategy; world stocks struggle on China growth worries *

Colleen Barry, AP Business Writer, 
On Tuesday 18 January 2011, 4:23 EST 

MILAN (AP) -- The euro currency was under pressure on Monday as European finance ministers disagreed over how to tackle the debt crisis, while stock markets struggled on a light trading day amid worries about Chinese growth.

The euro slipped to $1.3293 as European finance ministers' meetin Brussels. All eyes are on Germany, to see if Europe's largest economy and financier will resist boosting the size of the EU bailout fund.

"Indecision on the matter of the size of the fund will continue to dominate sentiment over the coming days," said Michael Hewson of CMS Markets.

Also weighing on the euro this week will be a confidence vote Tuesday of Irish Prime Minister Brian Cowen amid sharp criticism of his handling of Ireland's debt woes, which led to an expensive international rescue effort.

China's latest move to curb the flood of money to its economy, putting a lid on growth, continued to weigh on markets. Oil prices slipped to near $91 a barrel amid prospects for weaker demand for crude.

The FTSE 100 closed down 0.31 percent at 5,983.26. Germany's DAX was up 0.03 percent to 7,078.06, while the CAC-40 in Paris dropped 0.2 percent to 3,975.37.

Trading was light, with U.S. markets were closed for the Martin Luther King, Jr. holiday. Shares in Apple Inc. slid 6.21 percent in Frankfurt after news that CEO Steve Jobs was taking medical leave.

Germany's finance minister Wolfgang Schaeuble insisted Monday that bolstering the Euroepan bailout fund so it can actually lend out the advertised euro750 billion ($1 trillion) -- which it currently cannot do due to technical reasons -- is as far as his country will go. Other countries had proposed to double its size.

The ministers will also debate whether to allow the fund to buy government bonds on the market, therefore giving it a more proactive approach to the crisis rather than just funding rescues once countries have no other option.

Although Europe's debt crisis eased somewhat last week with successful bond auctions, many experts still say Portugal will eventually need a bailout and governments are worried that the austerity measures needed to calm bond markets will cost them years of economic growth.

In Asia, the benchmark Shanghai Composite Index lost 3 percent to 2,706.66 and the Shenzhen Composite Index for China's smaller, second exchange sank 4.3 percent to 1,180.39.

"I'm afraid the market will remain bearish, at least for a while, as it seems there is a consensus that the only way to control current serious inflation is to sacrifice growth," said Liu Kan, an analyst at Guoyuan Securities, in Shanghai.

China on Friday ordered state-owned banks to set aside an additional 0.5 percent of deposits as reserves, effective Jan. 20. It was the seventh time in a year that the reserve rate was hiked.

China's central bank uses increases in bank reserves to help reduce the amount of cash circulating in the economy. A frenzy of lending over the past two years has helped China rebound quickly from the global crisis. But, combined with bad weather and rising global commodity prices, it has complicated efforts to cool inflation.

Japan's Nikkei 225 stock average closed up by less than 0.1 percent to 10,502.86. South Korea's Kospi was 0.4 percent lower at 2,099.85. Hong Kong's Hang Seng index slipped 0.5 percent to 24,156.97 and Australia's S&P/ASX 200 fell 0.8 percent to 4,763.10.

Benchmarks in New Zealand, Singapore and Taiwan also retreated.

Markets also will be watching meetings between Chinese leader Hu Jintao and President Barack Obama in Washington this week for any signs of improvement in often testy U.S.-China relations. But analysts did not expect major breakthroughs.

"The big story this week is the visit by President Hu, and I suspect they will be all smiles and emphasize the need for cooperation -- and then they'll politely resist each other's demands," said David Cohen of Action Economics in Singapore.

The U.S. wants Beijing to move toward faster appreciation of its currency. The Chinese government intervenes in currency markets to hold down the value of the yuan against the dollar -- by as much as 40 percent, according to U.S. manufacturers. That makes Chinese products cheaper for Americans while increasing the price of U.S. goods in China.

But Beijing says relaxing currency controls too abruptly would damage the Chinese financial system, hurt its exporters and cost jobs.

"I don't think the market is holding its breath" expecting China to relent to U.S. pressure on the yuan, Cohen said.

In currencies, the dollar was down against the yen, at 82.68.

On Friday, the Dow Jones industrial average gained 50.5 percent while the broader Standard & Poor's 500 index rose 0.7 percent.

Benchmark oil for February delivery was down 49 cents at $91.05 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 14 cents to settle at $91.54 a barrel on Friday.


----------



## bigdog

Source: http://finance.yahoo.com

Boeing Co. and Caterpillar Inc. led stocks higher on Tuesday, pushing the Dow Jones industrial average to its highest close since June 2008.

Boeing rose 3.4 percent after reporting that it expects to deliver its long-awaited 787 jet in the third quarter. Caterpillar gained 2.8 percent. The two companies contributed more than half of the Dow's 50 point rise.

Indexes swung between gains and losses earlier in the day. Apple Inc. weighed on the Nasdaq composite index after the company announced that its CEO, Steve Jobs, was taking another medical leave. Apple fell 2.2 percent to $340.65.

Banks dropped after Citigroup Inc. reported earnings that fell short of analysts' forecasts. Citigroup fell 6.4 percent. Bank of America lost 1.6 percent.

*The NYSE DOW NYSE DOW closed HIGHER +50.55 +0.43% on Tuesday January 18*
Sym .......Last .......Change.......... 
Dow 11,837.93 +50.55 +0.43% 
Nasdaq 2,765.85 +10.55 +0.38% 
S&P 500 1,295.02 +1.78 +0.14% 
30-yr Bond 4.5610% +0.03 

NYSE Volume 5,853,223,500   (prior day 5,248,402,500)
Nasdaq Volume 2,085,852,875  (prior day 2,034,477,250) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,056.43 +70.73 +1.18% 
DAX 7,143.45 +65.39 +0.92% 
CAC 40 4,012.68 +37.27 +0.94%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,911.60 +39.00 +0.80% 
Shanghai Comp 2,709.17 +2.51 +0.09% 
Taiwan We... 8,988.00 +99.36 +1.12% 
Nikkei 225 10,518.98 +16.12 +0.15%  
Hang Seng 24,153.98 -2.99 -0.01%  
Straits Times 3,249.58 +10.95 +0.34% 

http://finance.yahoo.com/news/Stock...7.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks shrug off bad earnings reports, Apple news

Dow notches new high since June 2008; Apple sinks after CEO Jobs takes medical leave *

Chip Cutter and Matthew Craft, AP Business Writers, On Tuesday January 18, 2011, 4:44 pm EST 

NEW YORK (AP) -- Boeing Co. and Caterpillar Inc. led stocks higher on Tuesday, pushing the Dow Jones industrial average to its highest close since June 2008.

Boeing rose 3.4 percent after reporting that it expects to deliver its long-awaited 787 jet in the third quarter. Caterpillar gained 2.8 percent. The two companies contributed more than half of the Dow's 50 point rise.

Indexes swung between gains and losses earlier in the day. Apple Inc. weighed on the Nasdaq composite index after the company announced that its CEO, Steve Jobs, was taking another medical leave. Apple fell 2.2 percent to $340.65.

Banks dropped after Citigroup Inc. reported earnings that fell short of analysts' forecasts. Citigroup fell 6.4 percent. Bank of America lost 1.6 percent.

Delta dropped 8.2 percent after winter storms caused its earnings to come in lower than investors had expected.

The Dow rose 50.55 points, or 0.4 percent, to close at 11,837.93. The Dow has already gained 2.2 percent this year as optimism builds about the economy. The index rose 11 percent last year, or 14 percent including dividends.

The Standard & Poor's 500 index edged up 1.78, or 0.1 percent, to close at 1,295.02. The Nasdaq rose 10.55, or 0.4 percent, to 2,765.85.

European markets rose after Greece raised $865 million in another successful bond auction. That allayed concerns about Europe's financial system, which have been a drag on U.S. markets.

Bond prices fell, pushing their yields higher. The yield on the 10-year Treasury note rose to 3.37 percent from 3.32 percent late Friday. U.S. markets were closed Monday for the Martin Luther King Jr. holiday.

Rising stocks outpaced falling ones by a small margin on the New York Stock Exchange. Volume was 1.2 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks suffered their largest one-day decline since November after financial companies reported steep drops in profits Wednesday.

Goldman Sachs Group Inc. said its earnings fell 53 percent in the last quarter because of a slowdown in its trading and investment banking businesses. Northern Trust and State Street also reported lower profits.

Goldman Sachs, Bank of America Corp., JPMorgan Chase & Co. and Visa Inc. each fell by more than 2 percent.

*The NYSE DOW NYSE DOW closed LOWER -12.64 -0.11%  on Wednesday January 19*
Sym .......Last .......Change.......... 
Dow 11,825.29 -12.64 -0.11% 
Nasdaq 2,725.36 -40.49 -1.46% 
S&P 500 1,281.92 -13.10 -1.01% 
30-yr Bond 4.5260% -0.0350 

NYSE Volume 5,337,242,500  (prior day 5,853,223,500) 
Nasdaq Volume 2,191,839,500  (prior day 2,085,852,875)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,976.70 -79.73 -1.32% 
DAX 7,082.76 -60.69 -0.85% 
CAC 40 3,976.71 -35.97 -0.90%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,944.20 +32.60 +0.66% 
Shanghai Comp 2,759.26 +50.28 +1.86% 
Taiwan We... 9,086.02 +63.87 +0.71% 
Nikkei 225 10,557.10 +38.12 +0.36% 
Hang Seng 24,419.62 +265.64 +1.10%  
Straits Times 3,241.96 -7.62 -0.23% 

http://news.yahoo.com/s/ap/20110119/ap_on_bi_st_ma_re/us_wall_street

*Financial stocks pull market lower

Banks lead stock market lower after Goldman earnings tumble; IBM jumps after profit rises *

Chip Cutter and David K. Randall, AP Business Writers, On Wednesday January 19, 2011, 4:54 pm 

NEW YORK (AP) -- Stocks suffered their largest one-day decline since November after financial companies reported steep drops in profits Wednesday.

Goldman Sachs Group Inc. said its earnings fell 53 percent in the last quarter because of a slowdown in its trading and investment banking businesses. Northern Trust and State Street also reported lower profits.

Goldman Sachs, Bank of America Corp., JPMorgan Chase & Co. and Visa Inc. each fell by more than 2 percent.

"Banks are under pressure right now because they are not making money in places where you'd expect to see trading gains," said Quincy Krosby, a market strategist at Prudential Financial. Financial companies had rallied by more than 5 percent over the last month.

The Standard and Poor's 500 fell 13.1, or 1 percent, to 1,281.92. It was the biggest percentage drop in the benchmark index since Nov. 23. The Nasdaq composite fell 40.49, or 1.5 percent, to 2,725.36.

The Dow Jones industrial average of large companies held up better, partly due to a large gain in one of its 30 components, IBM Corp. IBM jumped $5.04 to $155.69 after reporting a big jump in earnings.

The Dow lost 12.64 points, or 0.1 percent, to 11,825.29.

Small companies fell the most. The Russell 2000 slumped 2.6 percent, its worst percentage loss since Aug. 19, 2010.

Losses were spread across the market. Each of the 10 company groups that make up the S&P 500 index lost ground.

American Express Co. fell 2.4 percent after the company said it would close a service center in North Carolina and cut 550 jobs.

Bond prices rose, sending their yields slightly lower. The yield on the 10-year Treasury note fell to 3.34 percent from 3.37 percent late Tuesday.

Four stocks fell for every one that rose on the New York Stock Exchange. Volume came to 1.1 billion shares


----------



## bigdog

Source: http://finance.yahoo.com

Concerns that China will take steps to slow its economic expansion sent commodities and materials stocks lower Thursday.

China reported that its economy expanded 10.3 percent in 2010. Economists expect that China's central bank will increase interest rates to slow down growth and keep inflation in check.

Demand from China has sent commodities prices surging over the past year.

"All investors and companies these days are clinging to this Chinese demand story," said Jack Ablin, chief investment officer at Harris Private Bank. "And anything that could cause that to falter could have ugly implications."

*The NYSE DOW NYSE DOW closed LOWER -2.49 lower -0.02% on Thursday January 20*
Sym .......Last .......Change.......... 
Dow 11,822.80 -2.49 -0.02% 
Nasdaq 2,704.29 -21.07 -0.77% 
S&P 500 1,280.26 -1.66 -0.13%  
30-yr Bond 4.6220% +0.0960 

NYSE Volume 5,614,518,500  (prior day  5,337,242,500)
Nasdaq Volume 2,338,267,250 (prior day  2,191,839,500) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,867.91 -108.79 -1.82% 
DAX 7,024.27 -58.49 -0.83% 
CAC 40 3,964.84 -11.87 -0.30%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,892.00 -52.20 -1.06% 
Shanghai Comp 2,678.45 -79.64 -2.89% 
Taiwan We... 9,022.17 -38.78 -0.43% 
Nikkei 225 10,437.31 -119.79 -1.13% 
Hang Seng 24,003.70 -415.92 -1.70% 
Straits Times 3,205.48 -36.48 -1.13%  

http://news.yahoo.com/s/ap/20110120/ap_on_bi_st_ma_re/us_wall_street

*Materials stocks fall on fear of Chinese rate hike*

By MATTHEW CRAFT and DAVID K. RANDALL, AP Business Writers 

NEW YORK – Concerns that China will take steps to slow its economic expansion sent commodities and materials stocks lower Thursday.

China reported that its economy expanded 10.3 percent in 2010. Economists expect that China's central bank will increase interest rates to slow down growth and keep inflation in check.

Demand from China has sent commodities prices surging over the past year.

"All investors and companies these days are clinging to this Chinese demand story," said Jack Ablin, chief investment officer at Harris Private Bank. "And anything that could cause that to falter could have ugly implications."

Oil and copper fell more than 2 percent. Silver fell 5 percent.

Freeport-McMoRan Copper & Gold Inc. dropped 4 percent even after the mining giant reported 60 percent higher income in the fourth quarter as a result of higher copper and gold prices. DuPont fell 1.6 percent and Dow Chemical Co. fell 2.5 percent.

The decline in commodities was tempered by slightly better news on the U.S. job market. The Labor Department reported that the number of people filing claims for unemployment benefits for the first time fell to 404,000 last week, below forecasts.

The better economic news pushed bond prices lower. The yield on the 10-year Treasury note rose to 3.43 percent from 3.34 percent late Wednesday. Yields and prices move in opposite directions.

The Dow Jones industrial average fell 2.49 points, or less than 0.1 percent, to 11,822.8.

The Standard & Poor's 500 index lost 1.66, or 0.1 percent, to 1,280.26. The technology-focused Nasdaq composite index fell 21.07, or 0.8 percent, to 2,704.29.

Materials stocks lost 1.5 percent, the most out of the 10 company groups that make up the S&P 500. Utility companies rose the most, 0.6 percent.

Morgan Stanley rose 5 percent to $29.02 after reporting that its fourth-quarter income jumped 60 percent thanks to strong investment banking revenues.

Wendy's/Arby's Group Inc. jumped 6.9 percent to $4.78 after the company said it is considering selling its struggling Arby's business and concentrating on its hamburger chain.

Two stocks fell for every one that rose on the New York Stock Exchange. Volume came to 1.2 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Strong profits at General Electric sent industrial stocks higher Friday.

General Electric Co. gained 7.1 percent, leading the 30 stocks that make up the Dow Jones industrial average. The conglomerate's earnings rose 52 percent on growth in equipment orders and lending.

The company's results helped send industrial companies in the Standard and Poor's 500 index up 1.2 percent. 3M Co., another industrial conglomerate, gained 1.4 percent and Textron Inc. rose 2.2 percent.

The Dow rose 49.04 points, or 0.4 percent, to close at 11,871.84.


*The NYSE DOW NYSE DOW closed HIGHER +49.04 points +0.41%  on Friday January 21*
Sym .......Last .......Change.......... 
Dow 11,871.84 +49.04 +0.41%  
Nasdaq 2,689.54 -14.75 -0.55%  
S&P 500 1,283.35 +3.09 +0.24%  
30-yr Bond 4.5740% -0.0480  

NYSE Volume 5,290,853,500 (prior day  5,614,518,500)
Nasdaq Volume 1,942,311,750  (prior day  2,338,267,250)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,896.25 +28.34 +0.48% 
DAX 7,062.42 +38.15 +0.54% 
CAC 40 4,017.45 +52.61 +1.33%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,860.90 -31.10 -0.64%  
Shanghai Comp 2,715.95 +38.29 +1.43% 
Taiwan We... 8,954.38 +26.31 +0.29% 
Nikkei 225 10,274.52 -162.79 -1.56% 
Hang Seng 23,876.86 -126.84 -0.53% 
Straits Times 3,184.60 -20.88 -0.65% 

http://finance.yahoo.com/news/Stocks-poised-to-rise-on-apf-2892406551.html?x=0

*Strong earnings at GE help send stocks higher

Stocks edge up as General Electric and others report strong earnings; tech drops *

Matthew Craft and David K. Randall, AP Business Writers, On Friday January 21, 2011, 4:34 pm EST 

NEW YORK (AP) -- Strong profits at General Electric sent industrial stocks higher Friday.

General Electric Co. gained 7.1 percent, leading the 30 stocks that make up the Dow Jones industrial average. The conglomerate's earnings rose 52 percent on growth in equipment orders and lending.

The company's results helped send industrial companies in the Standard and Poor's 500 index up 1.2 percent. 3M Co., another industrial conglomerate, gained 1.4 percent and Textron Inc. rose 2.2 percent.

The Dow rose 49.04 points, or 0.4 percent, to close at 11,871.84.

Bank of America Corp. lost 2 percent, making it the weakest Dow stock. The country's largest bank reported a $1.6 billion loss in the fourth quarter after setting aside more money to buy back faulty home loans from investors.

The Standard & Poor's 500 index gained 3.09 points, or 0.2 percent, to 1,283.35.

Technology companies in the S&P 500 fell 0.3 percent, the worst of any of the 10 company groups that make up the index. Apple Inc. lost 1.8 percent and Microsoft Corp. fell 1.2 percent.

The technology-focused Nasdaq composite index slid 14.75 points, or 0.5 percent, to 2,698.54.

Chip maker Advanced Micro Devices Inc. sank 6 percent. AMD's fourth-quarter profit shrank compared with a year ago, when a big legal settlement it won from archrival chip maker Intel Corp. lifted its earnings.

Google reported a 29 percent rise in income after the market closed Thursday. The Internet search giant said that co-founder Larry Page will take over as chief executive, replacing Eric Schmidt. Google's stock fell 2.4 percent.

Bond prices rose slightly, sending their yields down to 3.41 percent from 3.43 percent late Thursday.

Rising and falling shares were about even on the New York Stock Exchange. Volume came to 1.3 billion shares.

0697


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average closed within 20 points of 12,000 Monday, its highest point since June 2008.

Technology stocks rose after Intel Corp. increased its dividend and said it would buy back more of its stock. The company gained 2 percent.

Materials companies rose after a report from the National Association for Business Economics showed that economists are more positive about economic growth and the job market than at any time since the start of the Great Recession in December 2007.

*The NYSE DOW NYSE DOW closed HIGHER +108.68 points +0.92% on Monday January 24*
Sym .......Last .......Change..........  
Dow 11,980.52 +108.68 +0.92% 
Nasdaq 2,717.55 +28.01 +1.04% 
S&P 500 1,290.84 +7.49 +0.58%  
30-yr Bond 4.5580% -0.0160  

NYSE Volume 4,400,826,000  (prior day 5,290,853,500)
Nasdaq Volume 1,890,588,750 (prior day  1,942,311,750) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,943.85 +47.60 +0.81% 
DAX 7,067.77 +5.35 +0.08% 
CAC 40 4,033.21 +15.76 +0.39%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,888.10 +27.20 +0.56%  
Shanghai Comp 2,696.72 -18.58 -0.68% 
Taiwan We... 8,947.79 -23.68 -0.26% 
Nikkei 225 10,345.11 +70.59 +0.69%  
Hang Seng 23,801.78 -75.08 -0.31%  
Straits Times 3,185.76 +1.16 +0.04% 

http://finance.yahoo.com/news/Dow-average-nears-12000-as-apf-2247798565.html?x=0

*Dow average nears 12,000 as tech stocks climb

Dow nears 12,000 for first time since June 2008 as tech stocks climb; Intel raises dividend *

Chip Cutter and David K. Randall, AP Business Writers, On Monday January 24, 2011, 4:45 pm 

NEW YORK (AP) -- The Dow Jones industrial average closed within 20 points of 12,000 Monday, its highest point since June 2008.

Technology stocks rose after Intel Corp. increased its dividend and said it would buy back more of its stock. The company gained 2 percent.

Materials companies rose after a report from the National Association for Business Economics showed that economists are more positive about economic growth and the job market than at any time since the start of the Great Recession in December 2007.

Vulcan Materials Co., Alcoa Inc. and Sealed Air Corp. each gained more than 3 percent. Alcoa, which jumped 4.1 percent, was the top-performing stock among the 30 that make up the Dow Jones industrial average.

The Dow gained 108.68 points, or 0.9 percent, to 11,980.52. The last time the average closed above 12,000 was June 19, 2008.

The broader Standard and Poor's 500 index rose 7.49, or 0.6 percent, to 1,290.84. The Nasdaq composite gained 28.01, or 1 percent, to 2,717.55.

Gains were spread across the market. Financial and health care companies were the only two of the 10 company groups that make up the S&P index to fall.

McDonald's Corp. gained 0.5 percent to $75.38 after it said it meet analyst expectations and warned that rising food costs could affect its margins this year.

J.C. Penny Co. jumped 7 percent to $32.52 after the retailer said it would close some stores and its catalog business to reduce costs.

Three stocks rose for every one that fell on the New York Stock Exchange. Volume came to 961 million shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stock indexes finished about where they started Tuesday after a round of disappointing corporate earnings and another drop in home prices. Trading was muted ahead of President Obama's State of the Union speech, in which he was expected to outline a plan to reduce the deficit.

Four of the 30 companies in the Dow Jones industrial average reported results before the market opened: DuPont, 3M Co., Verizon Communications Inc. and Johnson & Johnson.

3M lost 2 percent after the manufacturing company's income fell because of higher costs. Johnson & Johnson lost 1.8 percent after reporting a 12 percent drop in income. The maker of Tylenol and other drugs was hammered by costly recalls of its products

*The NYSE DOW NYSE DOW closed LOWER  -3.33 points -0.03%  on Tuesday January 25*
Sym .......Last .......Change.......... 
Dow 11,977.19 -3.33 -0.03%  
Nasdaq 2,719.25 +1.70 +0.06% 
S&P 500 1,291.18 +0.34 +0.03%  
30-yr Bond 4.4700% -0.0880  

NYSE Volume 5,189,355,000 (prior day  4,400,826,000)
Nasdaq Volume 1,956,042,375 (prior day  1,890,588,750) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,917.71 -26.14 -0.44% 
DAX 7,059.01 -8.76 -0.12% 
CAC 40 4,019.62 -13.59 -0.34% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,909.00 +20.90 +0.43%  
Shanghai Comp 2,677.43 -18.29 -0.68% 
Taiwan We... 8,991.39 -20.31 -0.23% 
Nikkei 225 10,464.42 +119.31 +1.15%  
Hang Seng 23,788.83 -12.95 -0.05% 
Straits Times 3,181.15 -4.61 -0.14% 

http://finance.yahoo.com/news/Stocks-flat-as-earnings-from-apf-2934817071.html?x=0

*Stocks flat as earnings from blue chips disappoint

Stocks mixed after Johnson & Johnson, 3M report disappointing earnings; home prices fall *

Matthew Craft and David K. Randall, AP Business Writers, On Tuesday January 25, 2011, 5:36 pm 

NEW YORK (AP) -- Stock indexes finished about where they started Tuesday after a round of disappointing corporate earnings and another drop in home prices. Trading was muted ahead of President Obama's State of the Union speech, in which he was expected to outline a plan to reduce the deficit.

Four of the 30 companies in the Dow Jones industrial average reported results before the market opened: DuPont, 3M Co., Verizon Communications Inc. and Johnson & Johnson.

3M lost 2 percent after the manufacturing company's income fell because of higher costs. Johnson & Johnson lost 1.8 percent after reporting a 12 percent drop in income. The maker of Tylenol and other drugs was hammered by costly recalls of its products.

DuPont's income fell but still beat expectations. Its stock rose 0.3 percent. Verizon's stock gained 1.6 percent after the phone company's profits surged.

Another Dow member, American Express Co., fell 2.2 percent after reporting earnings late Monday that came in below analysts' expectations.

The Dow lost 3.33 points, or less than 0.1 percent, to 11,977.19. It had been down as many as 82 points earlier.

The Standard & Poor's 500 index inched up 0.34, or less than 0.1 percent, to 1,291.18.

The Nasdaq composite index gained 1.7 points, or 0.1 percent, to 2,719.25.

Doug Roberts, chief investment strategist for Channel Capital Research.com, said investors were looking ahead to President Barack Obama's State of the Union speech Tuesday night and a Federal Reserve meeting that concludes Wednesday. The Fed's $600 billion bond-buying plan, launched in November, was partially aimed at boosting stock prices. The S&P 500 has gained 8.9 percent in the last three months.

"As long as the Fed keeps pumping money into the economy," Roberts said, "stocks will probably keep going up."

Prices fell in 19 out of the 20 cities tracked by the Standard and Poor's / Case-Shiller home price index in November.

Treasury prices rose ahead of the President's State of the Union speech as traders hoped for news on spending curbs. That would ease worries in the bond market that the U.S. might soon run up against its borrowing limit.

The yield on the 10-year Treasury note fell to 3.34 percent from 3.39 percent late Monday. Bond yields move in the opposite direction of their prices.

Three stocks rose for every two that fell on the New York Stock Exchange. Consolidated volume came to 4.6 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average broke through 12,000 for the first time in two and a half years Wednesday but slipped lower in afternoon trading. The index of 30 prominent U.S. companies finished with a modest gain.

Weak profit forecasts from Boeing Co. and Xerox Corp. weighed on the market. Boeing fell 3 percent after saying its 2011 profits would be hurt by production delays. Xerox fell 8 percent after saying its profit margins were not increasing.

The Dow gained 8.25 points, or 0.1 percent, to close at 11,985.4. The last time the Dow closed above 12,000 was June 19, 2008.

The Standard and Poor's 500 index rose 5.45, or 0.4 percent, to 1,296.63. The Nasdaq composite index jumped 20.25, or 0.7 percent, to 2,739.50.

*The NYSE DOW NYSE DOW closed HIGHER +8.25 points +0.07% on Wednesday January 26*
Sym .......Last .......Change.......... 
Dow 11,985.44 +8.25 +0.07% 
Nasdaq 2,739.50 +20.25 +0.74% 
S&P 500 1,296.63 +5.45 +0.42% 
30-yr Bond 4.5980% +0.1280  

NYSE Volume 4,816,892,000  (prior day 5,189,355,000) 
Nasdaq Volume 2,056,477,625  (prior day 1,956,042,375)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,977.63 +59.92 +1.01% 
DAX 7,127.35 +68.34 +0.97% 
CAC 40 4,049.07 +29.45 +0.73%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,909.00 closed for Australia day holiday 
Shanghai Comp 2,708.74 +31.31 +1.17% 
Taiwan We... 9,055.59 +64.20 +0.71%  
Nikkei 225 10,401.90 -62.52 -0.60% 
Hang Seng 23,843.24 +54.41 +0.23% 
Straits Times 3,220.78 +39.63 +1.25% 

http://sg.finance.yahoo.com/news/Dow-Jones-average-falls-after-apf-2389758825.html?x=0

*Dow Jones average falls after hitting 12,000

Dow slips after rising above 12,000 for the first time since June 2008 *

Chip Cutter and David K. Randall, AP Business Writers, On Thursday 27 January 2011, 5:49 

NEW YORK (AP) -- The Dow Jones industrial average broke through 12,000 for the first time in two and a half years Wednesday but slipped lower in afternoon trading. The index of 30 prominent U.S. companies finished with a modest gain.

Weak profit forecasts from Boeing Co. and Xerox Corp. weighed on the market. Boeing fell 3 percent after saying its 2011 profits would be hurt by production delays. Xerox fell 8 percent after saying its profit margins were not increasing.

The Dow gained 8.25 points, or 0.1 percent, to close at 11,985.4. The last time the Dow closed above 12,000 was June 19, 2008.

The Standard and Poor's 500 index rose 5.45, or 0.4 percent, to 1,296.63. The Nasdaq composite index jumped 20.25, or 0.7 percent, to 2,739.50.

Energy and materials companies gained more than 2 percent, the most among the 10 company groups that make up the S&P 500 index.

Investors were pleased with President Barack Obama's calls for lower tax rates on businesses during the State of the Union address late Tuesday, said Jack Ablin, chief investment officer at Harris Private Bank.

"If he can take steps to simplify the tax codes, be it for individuals or corporations, I think it would be a lot easier to do business," Ablin said.

The Federal Reserve said Wednesday afternoon that it was not making any changes to its $600 billion bond-buying program. The plan is meant to encourage borrowing by keeping interest rates low.

The Commerce Department said new home purchases rose 17.5 percent in December compared with November. Despite the strong one-month jump, new home sales for all of 2010 fell to the lowest level on records going back 47 years.

Eastman Kodak Co. fell 18 percent. The company's income fell 95 percent on weaker revenue from its camera business and lower royalties from digital imaging.

The yield on the 10-year Treasury note rose to 3.41 percent from 3.34 percent.

Two stocks rose for every one that fell on the New York Stock Exchange. Volume came to 1.2 billion shares


----------



## bigdog

Source: http://finance.yahoo.com

A surprise jump in applications for unemployment benefits and mixed earnings from large U.S. companies kept stocks on a short leash Thursday. Indexes ended slightly higher, with the Standard & Poor's 500 closing a half point below 1,300.

The Dow Jones industrial average traded above 12,000 for most of the day but failed to close above that level for the second day in a row. The Dow hasn't closed above 12,000 since June 19, 2008, just as the financial crisis was worsening.

Procter & Gamble Co., the maker of consumer products like Tide detergent, fell 2.9 percent, the largest drop among the 30 companies that make up the Dow Jones average. P&G said rising commodity prices are pinching its profits.

*The NYSE DOW NYSE DOW closed HIGHER +4.39 points +0.04% on Thursday January 27*
Sym .......Last .......Change.......... 
Dow 11,989.83 +4.39 +0.04% 
Nasdaq 2,755.28 +15.78 +0.58% 
S&P 500 1,299.54 +2.91 +0.22% 
30-yr Bond 4.5590% -0.0390  

NYSE Volume 4,803,934,500 (prior day  4,816,892,000)
Nasdaq Volume 2,044,080,125  (prior day 2,056,477,625)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,965.08 -4.13 -0.07%  
DAX 7,155.58 +28.23 +0.40% 
CAC 40 4,059.57 +10.50 +0.26%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,907.00 -2.00 -0.04%  
Shanghai Comp 2,748.69 +39.88 +1.47% 
Taiwan We... 9,102.33 +46.74 +0.52% 
Nikkei 225 10,478.66 +76.76 +0.74%  
Hang Seng 23,779.62 -63.62 -0.27% 
Straits Times 3,219.83 -0.95 -0.03% 

http://finance.yahoo.com/news/Stock...1.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks edge higher after mixed earnings reports

Stock indexes rise slightly after large companies report earnings; S&P 500 nears 1,300 *

David K. Randall and Matthew Craft, AP Business Writers, On Thursday January 27, 2011, 4:51 pm 

NEW YORK (AP) -- A surprise jump in applications for unemployment benefits and mixed earnings from large U.S. companies kept stocks on a short leash Thursday. Indexes ended slightly higher, with the Standard & Poor's 500 closing a half point below 1,300.

The Dow Jones industrial average traded above 12,000 for most of the day but failed to close above that level for the second day in a row. The Dow hasn't closed above 12,000 since June 19, 2008, just as the financial crisis was worsening.

Procter & Gamble Co., the maker of consumer products like Tide detergent, fell 2.9 percent, the largest drop among the 30 companies that make up the Dow Jones average. P&G said rising commodity prices are pinching its profits.

AT&T Inc. fell 2 percent after saying that new wireless contracts fell to the lowest level in more than five years. Caterpillar Inc. rose 0.9 percent after its fourth-quarter profit quadrupled on strong global demand for mining and construction equipment.

The S&P 500 rose 2.91 points, or 0.2 percent, to close at 1,299.54. The last time the index closed above 1,300 was Aug. 28, 2008.

The Dow inched up 4.39 points, or 0.1 percent, to close at 11,989.83. The index broke through 12,000 Wednesday for the first time since June 2008 but slipped in the late afternoon.

The Nasdaq composite index gained 15.78, or 0.6 percent, to 2,755.28.

First-time applications for unemployment rose to 454,000 last week, the highest level since late October. Economists had expected the number to rise to 407,000. Snowstorms in some parts of the country forced companies to lay off workers, economists said.

A government-appointed panel said Thursday that the financial crisis could have been avoided if Wall Street executives and government officials had properly managed risks. The panel said that the Bush and Clinton administrations, the Federal Reserve and Treasury Secretary Timothy Geithner share responsibility for allowing the crisis to happen. The panel's conclusions had been leaked ahead of its formal report and were widely expected on Wall Street.

Netflix Inc. jumped 15 percent to $210. Netflix reported that its subscriber base rose above 20 million customers, after the market closed Wednesday. The stock has quadrupled over the last 12 months.

Rising stocks narrowly outpaced falling ones on the New York Stock Exchange. Volume was relatively thin at 992 million shares.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow fell 166.13 points, or 1.4 percent, to close at 11,823.70. The Dow lost 0.4 percent for the week after eight straight weeks of gains.

The Standard & Poor's 500 index fell 23.20, or 1.8 percent, to 1,276.34. All 10 company groups within the S&P index fell. The S&P fell 0.5 percent for the week.

Escalating protests in Egypt jarred world financial markets on Friday. Stocks fell while the dollar, Treasurys and gold rose as investors sought to reduce their exposure to risk.

The Egyptian government's response to widespread street protests unnerved investors. The military was deployed in an effort to quell the protests and the headquarters of the ruling party was on fire. Thousands of people defied a curfew, and Internet and cell phone service has been cut off.

Earlier, riot police fired tear gas, rubber bullets and used water cannons to disperse crowds that had gathered in the largest challenge to Egyptian president Hosni Mubarak's thirty-year rule. The fall of the Tunisian government two weeks ago has raised concerns that other authoritarian governments in the Middle East could also be toppled.


*The NYSE DOW NYSE DOW closed LOWER -166.13 points -1.39% 
 on Friday January 28*
Sym .......Last .......Change.......... 
Dow 11,823.70 -166.13 -1.39% 
Nasdaq 2,686.89 -68.39 -2.48% 
S&P 500 1,276.34 -23.20 -1.79% 
30-yr Bond 4.5250% -0.0340  

NYSE Volume 6,390,562,500   (prior day 4,803,934,500) 
Nasdaq Volume 2,044,080,125 (prior day   2,414,611,250) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,881.37 -83.71 -1.40% 
DAX 7,102.80 -52.78 -0.74% 
CAC 40 4,002.32 -57.25 -1.41%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,872.50 -34.50 -0.70%  
Shanghai Comp 2,752.95 +3.80 +0.14% 
Taiwan We... 9,145.35 +43.02 +0.47% 
Nikkei 225 10,360.34 -118.32 -1.13% 
Hang Seng 23,617.02 -162.60 -0.68%  
Straits Times 3,229.69 +9.86 +0.31% 

http://finance.yahoo.com/news/World-markets-sink-as-apf-1661945757.html?x=0

*World markets sink as protests escalate in Egypt

Worsening unrest in Egypt sends stocks lower; Treasurys and dollar rise *

David K. Randall and Matthew Craft, AP Business Writers, On Friday January 28, 2011, 5:04 pm EST 

NEW YORK (AP) -- Escalating protests in Egypt jarred world financial markets on Friday. Stocks fell while the dollar, Treasurys and gold rose as investors sought to reduce their exposure to risk.

The Egyptian government's response to widespread street protests unnerved investors. The military was deployed in an effort to quell the protests and the headquarters of the ruling party was on fire. Thousands of people defied a curfew, and Internet and cell phone service has been cut off.

Earlier, riot police fired tear gas, rubber bullets and used water cannons to disperse crowds that had gathered in the largest challenge to Egyptian president Hosni Mubarak's thirty-year rule. The fall of the Tunisian government two weeks ago has raised concerns that other authoritarian governments in the Middle East could also be toppled.

"The safety trade is back," said Jeffrey Frankel, president of broker Stuart Frankel & Co. "Gold is up. Oil is up. Anything related to overseas is getting hit."

Prices of Treasury bonds, considered one of the safest assets, rose sharply. The yield on the benchmark 10-year Treasury note fell to 3.33 percent from 3.38 percent late Thursday. Bond yields fall when their prices rise.

The dollar rose 0.5 percent against an index of six other currencies as investors sought safety. Gold rose 1.7 percent to settle at $1,340.70 and crude oil rose 4.3 percent to $89.34 a barrel.

The Egyptian stock market isn't open on Fridays. The market's main index fell 10.5 percent Thursday.

The MSCI World Market index, the broadest measure of the world's stock markets, slumped 1.4 percent.

"Traders are watching this flare-up in the Middle East and using it as a reason to take profits," said Doug Godine, managing director at Signal Hill, an investment bank.

Of the 30 large company stocks that make up the Dow Jones industrial average, 28 fell. The two exceptions, Procter & Gamble and DuPont, were flat.

The Dow fell 166.13 points, or 1.4 percent, to close at 11,823.70. The Dow lost 0.4 percent for the week after eight straight weeks of gains.

The Standard & Poor's 500 index fell 23.20, or 1.8 percent, to 1,276.34. All 10 company groups within the S&P index fell. The S&P fell 0.5 percent for the week.

The Nasdaq composite fell 68.39, or 2.5 percent, to 2,686.89. The index was not updated nearly an hour after the market opened due to technical problems. The Nasdaq lost 0.1 percent for the week.

Five stocks fell for every one that rose on the New York Stock Exchange. Volume was high at 1.35 billion shares.

Disappointing earnings reports also rattled investors, said Brian Wenzinger, a portfolio manager at Aronson Johnson Ortiz in Philadelphia. "Some companies like Apple are doing well, but the bulk are not being too optimistic," Wenzinger said.

Ford Motor Co sank 13 percent after its earnings fell short of Wall Street's projections. Amazon.com Inc. fell 7 percent after reporting that higher costs cut down its profit margins. Microsoft Corp. lost 4 percent after it said that the profitability of its Windows division was falling.

A lower than expected report on the U.S. economy helped lead to a market sell-off as well. The Commerce Department reported that U.S. gross domestic product grew at an annual rate of 3.2 percent between October and December. That was below the 3.5 percent that analysts had forecast.

Sara Lee Corp. fell 2.7 percent after announcing a plan to split into two companies. One, a food and retail business, will keep the Sara Lee name and also operate the Jimmy Dean and Hillshire Farms businesses. The other, which has yet to be named, will hold the current company's beverages and baked goods lines. The company had considered selling the whole business but was unable to get a satisfactory price for it.

01249


----------



## bigdog

Source: http://finance.yahoo.com

Energy stocks led indexes higher Monday, the first day of trading since the growing unrest in Egypt caused the largest one-day drop in the broad stock market in more than three months.

Exxon Mobil Corp. gained 2.1 percent after it reported its most profitable quarter since 2008. Massey Energy Co. jumped 9.8 percent after Alpha Natural Resources Inc. said that it would buy the coal producer in a $7.1 billion deal. Alpha Natural Resources fell 7.2 percent.

The Massey deal suggests "maybe coal isn't dead," said Kim Caughey Forrest, equity research analyst at Fort Pitt Capital Group. It also raises hopes for similar deals in the future, she said.

Concerns remained over Egypt's impact on oil prices. The country is not a major producer of oil, but it plays a key role in the industry because it controls the Suez Canal, a major route for oil tankers and cargo ships. Crude oil prices rose 3 percent to $92.19 a barrel.



*The NYSE DOW NYSE DOW closed HIGHER +68.23 points +0.58% on Monday January 31*
Sym .......Last .......Change.......... 
Dow 11,891.93 +68.23 +0.58% 
Nasdaq 2,700.08 +13.19 +0.49% 
S&P 500 1,286.12 +9.78 +0.77% 
30-yr Bond 4.5710% +0.0460  

NYSE Volume 4,909,286,000   (prior day 6,390,562,500)
Nasdaq Volume 1,991,442,875   (prior day 2,044,080,125)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,862.94 -18.43 -0.31% 
DAX 7,077.48 -25.32 -0.36%  
CAC 40 4,005.50 +3.18 +0.08%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,850.00 -22.50 -0.46%  
Shanghai Comp 2,789.82 +37.07 +1.35% 
Taiwan We... 9,145.35 +43.02 +0.47%  
Nikkei 225 10,237.92 -122.42 -1.18% 
Hang Seng 23,447.34 -169.68 -0.72% 
Straits Times 3,179.72 -49.97 -1.55% 

http://finance.yahoo.com/news/Energ...3.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Energy stocks push indexes higher

Energy stocks push stocks higher after Massey deal, Exxon earnings; oil prices jump *

Chip Cutter and David K. Randall, AP Business Writers, On Monday January 31, 2011, 4:47 pm 

NEW YORK (AP) -- Energy stocks led indexes higher Monday, the first day of trading since the growing unrest in Egypt caused the largest one-day drop in the broad stock market in more than three months.

Exxon Mobil Corp. gained 2.1 percent after it reported its most profitable quarter since 2008. Massey Energy Co. jumped 9.8 percent after Alpha Natural Resources Inc. said that it would buy the coal producer in a $7.1 billion deal. Alpha Natural Resources fell 7.2 percent.

The Massey deal suggests "maybe coal isn't dead," said Kim Caughey Forrest, equity research analyst at Fort Pitt Capital Group. It also raises hopes for similar deals in the future, she said.

Concerns remained over Egypt's impact on oil prices. The country is not a major producer of oil, but it plays a key role in the industry because it controls the Suez Canal, a major route for oil tankers and cargo ships. Crude oil prices rose 3 percent to $92.19 a barrel.

"The market wants to work its way higher," said Sam Stovall, chief investment strategist of Standard & Poor's. "The big worry is the unknown -- the cascading effects that could occur."

The Dow Jones industrial average gained 68 points, or 0.6 percent, to close at 11,891.93. The broader Standard and Poor's 500 index rose 10, or 0.8 percent, to 1,286.12. The Nasdaq composite index gained 13, or 0.5 percent, to 2,700.08.

Nine of the 10 company groups that make up the S&P index rose. Energy companies gained 2.6 percent, the most of any group.

Bond prices fell slightly, sending their yields higher. The yield on the benchmark 10-year Treasury note rose to 3.38 percent from 3.33 percent late Friday. Bond prices rose Friday because investors sought less risky assets.

Stronger economic data in the U.S. also helped push stocks higher. The Commerce Department reported that consumers increased their spending in December by more than analysts had predicted. Spending for all of 2010 rose by the largest amount in three years.

Two stocks rose for every one that fell on the New York Stock Exchange. Volume came to 1.2 billion shares.

Stocks fell broadly Friday due to escalating protests in Egypt and disappointing earnings reports from Amazon.com Inc. and Microsoft Corp. The Dow fell 166.13 points, or 1.4 percent, to close at 11,823.70.

The S&P index on Friday fell 23.20, or 1.8 percent, to 1,276.34. That was the broad market index's largest fall since Aug. 11. The Nasdaq composite fell 68.39, or 2.5 percent, to 2,686.89.


----------



## bigdog

Source: http://finance.yahoo.com

*ALL OUR MARKET INDEXS BELOW ARE GREEN *

The Dow Jones industrial average has closed above 12,000 for the first time in 2 1/2 years -- yet another sign that the economy is extending its recovery from the recession.

Another big stock market index, the Standard & Poor's 500, reached a milestone of its own Tuesday. It closed above 1,300.

Two years ago, the stock market was roadkill along the financial highway. Now one of the greatest bull markets in history is rolling along -- maybe enough to finally get the attention of average investors.

The Dow Jones industrial average closed above 12,000 for the first time in two and a half years Tuesday, putting the Great Recession even farther in the rearview mirror and erasing most of the damage it inflicted on tens of millions of retirement accounts.

A broader measure of the stock market, the Standard & Poor's 500 index, closed above 1,300 for the first time since Aug. 28, 2008. And at least one widely watched measure suggests stocks are still cheap by historical standards.

The remarkable run for stocks began on March 9, 2009. The Dow stood at 6,547, its lowest point in 12 years. Since then, in the fastest climb since the Great Depression, it has risen 84 percent thanks to surging corporate profits, the unexpected resilience of personal spending and a bond-buying intervention by the Federal Reserve that made stocks more appealing. And some of the early gains came because investors realized that stocks had fallen too far during the financial crisis.

*The NYSE DOW NYSE DOW closed HIGHER +148.23 points +1.25% on Tuesday February 1*
Sym .......Last .......Change.......... 
Dow 12,040.16 +148.23 +1.25% 
Nasdaq 2,751.19 +51.11 +1.89% 
S&P 500 1,307.59 +21.47 +1.67% 
30-yr Bond 4.6130% +0.0420 

NYSE Volume 5,423,581,500  (prior day 4,909,286,000)
Nasdaq Volume 2,293,427,000  (prior day 1,991,442,875) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,957.82 +94.88 +1.62% 
DAX 7,184.27 +106.79 +1.51% 
CAC 40 4,072.62 +67.12 +1.68% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,852.00 +2.00 +0.04% 
Shanghai Comp 2,799.40 +8.70 +0.31% 
Taiwan We... 9,145.35 +43.02 +0.47% 
Nikkei 225 10,274.50 +36.58 +0.36% 
Hang Seng 23,482.95 +35.61 +0.15% 
Straits Times 3,184.74 +5.02 +0.16%  

http://finance.yahoo.com/news/Dow-over-12000-as-remarkable-apf-328784585.html?x=0

*Dow over 12,000 as remarkable bull market rolls on

Dow over 12,000 for first time since before 2008 financial crisis, extending remarkable run *

David K. Randall, AP Business Writer, On Tuesday February 1, 2011, 5:00 pm 

NEW YORK (AP) -- Two years ago, the stock market was roadkill along the financial highway. Now one of the greatest bull markets in history is rolling along -- maybe enough to finally get the attention of average investors.

The Dow Jones industrial average closed above 12,000 for the first time in two and a half years Tuesday, putting the Great Recession even farther in the rearview mirror and erasing most of the damage it inflicted on tens of millions of retirement accounts.

A broader measure of the stock market, the Standard & Poor's 500 index, closed above 1,300 for the first time since Aug. 28, 2008. And at least one widely watched measure suggests stocks are still cheap by historical standards.

The remarkable run for stocks began on March 9, 2009. The Dow stood at 6,547, its lowest point in 12 years. Since then, in the fastest climb since the Great Depression, it has risen 84 percent thanks to surging corporate profits, the unexpected resilience of personal spending and a bond-buying intervention by the Federal Reserve that made stocks more appealing. And some of the early gains came because investors realized that stocks had fallen too far during the financial crisis.

The Dow's total return, which assumes stock dividends were reinvested, is 92 percent. Anyone who bought an S&P 500 index fund that day in March 2009 has doubled his money, assuming dividends were reinvested.

The Dow closed at 12,040.16 on Tuesday, advancing 148 points after strong corporate earnings reports and signs that the manufacturing sector had a good month in January. The S&P 500 closed at 1,307.59, up 21 points.

The rebound could bring small investors back to the stock market. They have pulled nearly $245 billion out of U.S. stock mutual funds since June 2008, the last time the Dow was at 12,000, according to the Investment Company Institute. Earlier in the decade, they typically put in $145 billion a year.

And if Americans believe in the stock market again, it could accelerate the economic recovery.

"The lack of confidence has acted as a sedative across the economy," says David Kelly, chief market strategist at J.P. Morgan Funds. "The Dow at 12,000 could boost the psychology of the American investor and be a more powerful stimulant than anything else in driving the next stage of this bull market." Investors who see their stock portfolios rising will be more likely to spend money and take risks that could boost the economy, he says.

The market has been rising without much buying by small investors. It's the professionals who have pushed stock prices higher for two years because they expected corporate profits to rise.

Businesses have been sitting on an enormous pile of cash -- the biggest as a share of their total assets since 1959. They are starting to spend a little, upgrading their computer systems and buying basic materials in order to expand -- even if they have yet to hire again in great numbers. Alcoa, the giant aluminum company, has benefited from this spending, and its stock has jumped 30 percent over the last three months. Technology stocks have led the latest push in the rally. Hewlett-Packard and IBM have each jumped by more than 10 percent over the past month.

"We are at a new stage in the economy," says Liz Ann Sonders, chief market strategist at Charles Schwab. "There is a tremendous amount of pent-up demand for business capital spending."

Stocks that typically do well in the first part of a bull market have been lagging the broad market recently. Small company stocks, which typically lead, have stalled after rising 27 percent last year. So-called consumer discretionary stocks -- hotels, restaurants, and fashion stores that rely on people spending -- tend to perform well at the start of a bull market because they tend to fall the most during downturns. Lately, they have been lagging. Consumer discretionary stocks have risen 0.5 percent this year, well behind the 4 percent gain in the S&P 500.

The stock market's gains haven't been matched elsewhere. Real estate prices in some cities are still near the lows they hit at the worst of the financial crisis. Economists expect that this year could bring record foreclosures. Some state and local governments are struggling to provide basic services, and the federal deficit is at its highest level as a percentage of GDP since the end of World War II.

And the unrest in Egypt shows that the market is still vulnerable to unforeseen events. The Dow fell 1.4 percent Friday, its largest drop in more than two months, because of concerns that the protests in Egypt could disrupt the global oil business. Egypt controls the Suez Canal, a vital route for oil tankers and cargo ships.

But the economy is in better shape now than it was the last time the Dow closed above 12,000, on June 19, 2008. That turned out to be just a third of the way through the Great Recession. The Dow had tumbled about 2,000 points from its all-time high of 14,164 in October 2007 but had much further to fall. Unemployment stood at 5.6 percent and was on its way to 10.1 percent.

Now the economy is expanding again. But jobs remain scarce, and the unemployment rate is 9.4 percent. Millions are unable to afford to invest in a stock rally passing them by.

The lack of demand from small investors is making stocks cheap by historical standards. The Dow now trades at 14.7 times the combined earnings per share for the past year of the 30 stocks that make up the Dow, well below the historical average of 17. If the Dow traded at 17 times earnings now, it would be at 13,877 -- only 287 points below its record high.

The Dow is 15 percent below its record from October 2007 and could reach a new high this year. Pulling that off would require a total gain for 2011 of about 22 percent. The Dow has risen that much or more in a year eight times since 1985, or roughly once every three years.

Small investors are starting to buy stocks again. Investors moved $2.5 billion into mutual funds that held American companies over the first three weeks in January, the largest increase since April of last year.

Large brokerage houses that manage investments are starting to see the return of individual investors. "Our clients are showing increased confidence in the economic recovery," says Morgan Stanley's chief financial officer, Ruth Porat.

If unemployment starts dropping steadily, the bull market probably has further to go. Before the 2008 financial crisis, the last time unemployment was at 9.4 percent was July 1983. By November 1985, it was at 7 percent, and the Dow stood 23 percent higher.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks ended Wednesday mixed, a day after the Dow Jones industrial average closed at its highest level in 2-1/2 years.

The Dow traded in a tight range throughout the day as investors weighed the impact of unrest in Egypt against better-than-expected news on the job market.

"The market seems to be catching its breath after that strong run Tuesday," said Alan Gayle, senior investment strategist for RidgeWorth Investments.

Traders' television screens were filled with scenes of fighting in Egypt between groups that support President Hosni Mubarak and those who are calling for his ouster. Mubarak vowed Tuesday that he will not run for president in September but did not say he would take any steps to leave office before then

*The NYSE DOW NYSE DOW closed HIGHER +1.81 points +0.02% on Wednesday February 2*
Sym .......Last .......Change.......... 
Dow 12,041.97 +1.81 +0.02%  
Nasdaq 2,749.56 -1.63 -0.06% 
S&P 500 1,304.03 -3.56 -0.27%  
30-yr Bond 4.6400% +0.0270  

NYSE Volume 4,578,443,500  (prior day 5,423,581,500)
Nasdaq Volume 2,037,314,250  (prior day 2,293,427,000)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,996.56 +38.74 +0.65% 
DAX 7,183.67 -0.60 -0.01% 
CAC 40 4,066.53 -6.09 -0.15% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,897.90 +45.90 +0.95%  
Shanghai Comp 2,799.40 closed feb 2 
Taiwan We... 9,145.35 +43.02 +0.47% 
Nikkei 225 10,457.36 +182.86 +1.78% 
Hang Seng 23,908.96 +426.01 +1.81% 
Straits Times 3,211.12 +26.38 +0.83%  

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks mixed a day after Dow tops 12,000

Stocks flat, a day after Dow closes at its highest level in 2- 1/2 years *

Chip Cutter and David K. Randall, AP Business Writers, On Wednesday February 2, 2011, 5:21 pm 

NEW YORK (AP) -- Stocks ended Wednesday mixed, a day after the Dow Jones industrial average closed at its highest level in 2-1/2 years.

The Dow traded in a tight range throughout the day as investors weighed the impact of unrest in Egypt against better-than-expected news on the job market.

"The market seems to be catching its breath after that strong run Tuesday," said Alan Gayle, senior investment strategist for RidgeWorth Investments.

Traders' television screens were filled with scenes of fighting in Egypt between groups that support President Hosni Mubarak and those who are calling for his ouster. Mubarak vowed Tuesday that he will not run for president in September but did not say he would take any steps to leave office before then.

Egypt is not a major producer of oil but controls the Suez Canal, a key shipping lane in the global oil business. Oil prices fluctuated throughout the day as traders balanced the clashes in Egypt with a report that fuel supplies were growing in the U.S. Oil settled 9 cents higher at $90.86 a barrel on the New York Mercantile Exchange.

The Dow rose 1.81 points to close at 12,041.97.

The Standard & Poor's 500 index lost 3.56 points, or 0.3 percent, to 1,304.03. Nine of its 10 company groups fell. Financial companies had the largest fall of any group, dropping 0.9 percent.

The Nasdaq composite lost 1.63 points, or less than 0.1 percent, to 2,749.56.

Early Wednesday, payroll processor ADP said that private companies added more jobs in January than analysts predicted. That's a hopeful sign for the Labor Department's monthly employment report, due out Friday. Economists expect the government to say the unemployment rate rose to 9.5 percent in January from 9.4 percent the previous month.

Time Warner Inc. rose almost 9 percent after the owner of Warner Bros., HBO and CNN said its fourth-quarter profit jumped 22 percent. The company also raised its 2011 forecasts.

Video game publisher Electronic Arts Inc. jumped 16 percent after the company also raised its profit forecast. The company was the best performer in the S&P 500.

Mattel Inc. gained 1 percent after the country's largest toy maker said its revenue rose 9 percent on strong sales of Barbie and Fisher-Price toys. Whirlpool Corp. fell 2 percent after the company said it would raise prices in response to higher costs of raw materials.

Treasury prices fell, pushing their yields higher. The yield on the 10-year Treasury note rose to 3.48 percent from 3.43 percent late Tuesday.

Falling shares outpaced rising ones by a small margin on the New York Stock Exchange. Volume came to 936 million shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks posted small gains Thursday after Federal Reserve chairman Ben Bernanke said the central bank will stick to its efforts to spur the economy.

In a speech at the National Press Club, Bernanke said that the Fed expects the economy to improve this year and inflation to remain low despite the jump in commodity prices.

"Chairman Bernanke basically indicated in his speech that he considers unemployment to be the bigger problem than inflation and that the Fed will continue to focus on that," said Doug Roberts, chief market strategist at Channel Capital Research.

The Federal Reserve is on track to buy $600 billion in bonds, a tactic known as quantitative easing, aimed at spurring lending and making stock ownership more attractive. Some economists had worried that the Fed could end its bond purchases earlier than anticipated.

*The NYSE DOW NYSE DOW closed HIGHER +20.29 points +0.17%  on Thursday February 3*
Sym .......Last .......Change.......... 
Dow 12,062.26 +20.29 +0.17% 
Nasdaq 2,753.88 +4.32 +0.16% 
S&P 500 1,307.10 +3.07 +0.24% 
30-yr Bond 4.6620% +0.0220  

NYSE Volume 4,984,139,500  (prior day  4,578,443,500) 
Nasdaq Volume 1,956,628,125  (prior day 2,037,314,250) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,983.34 -16.73 -0.28%  
DAX 7,193.68 +10.01 +0.14%  
CAC 40 4,036.59 -29.94 -0.74%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,919.30 +21.40 +0.44% 
Shanghai Comp 2,799.40 +8.70 +0.31% 
Taiwan We... 9,145.35 +43.02 +0.47% 
Nikkei 225 10,431.36 -26.00 -0.25%  
Hang Seng 23,908.96 +426.01 +1.81% 
Straits Times 3,211.12 +26.38 +0.83%  

http://finance.yahoo.com/news/Berna...5.html?x=0&sec=topStories&pos=7&asset=&ccode=

*Bernanke speech helps push stocks higher

Stocks rise on strong US economic news; Bernanke says Fed support will continue *

Chip Cutter and David K. Randall, AP Business Writers, On Thursday February 3, 2011, 5:48 pm EST 

NEW YORK (AP) -- Stocks posted small gains Thursday after Federal Reserve chairman Ben Bernanke said the central bank will stick to its efforts to spur the economy.

In a speech at the National Press Club, Bernanke said that the Fed expects the economy to improve this year and inflation to remain low despite the jump in commodity prices.

"Chairman Bernanke basically indicated in his speech that he considers unemployment to be the bigger problem than inflation and that the Fed will continue to focus on that," said Doug Roberts, chief market strategist at Channel Capital Research.

The Federal Reserve is on track to buy $600 billion in bonds, a tactic known as quantitative easing, aimed at spurring lending and making stock ownership more attractive. Some economists had worried that the Fed could end its bond purchases earlier than anticipated.

Stocks had fallen for the most of the day as concerns over violent protests in Egypt weighed against better-than-expected economic news in the U.S.

Clashes continued in Egypt between pro- and anti-government demonstrators, leaving some analysts worried about the stability of the Middle East and the unrest's impact on oil-rich countries throughout the region, such as Saudi Arabia.

"That's the fear," said Peter Cardillo, chief market economist at Avalon Partners.

But better-than-expected January sales figures sent shares in retail companies higher. Consumer-discretionary companies in the Standard and Poor's 500-stock index gained 1.2 percent after national chains reported that sales were nearly double what analysts had forecast despite heavy snowstorms in much of the nation.

Shares in the consumer-discretionary companies were the best performers among the 10 company groups that make up the S&P index. Industrials companies were the only group to fall.

Costco Wholesale Corp., Nordstrom Inc. and Gap Inc. all gained more than 4 percent.

The S&P 500 -- the benchmark for most U.S. mutual funds -- gained 3.07 points, or 0.2 percent, to close at 1,307.10. The Dow Jones industrial average rose 20.29 points, or 0.2 percent, to 12,062.26. The Nasdaq composite rose 4.32 points, or 0.2 percent, to 2,753.88.

Rising shares outpaced falling ones by a small margin on the New York Stock Exchange. Consolidated trading volume came to 4.5 billion shares.

Among the positive economic reports, the Labor Department said Thursday that fewer people applied for unemployment benefits last week. A separate report showed that worker productivity in December rose by its largest amount since 2002. Economists say many employers have reached the limit in terms of how much work they can squeeze from their employees.

The Commerce Department said that factory orders rose in December, the fifth gain in six months.

Drugmaker Merck & Co. fell 2.7 percent after it issued a full-year profit forecast that was lower than analysts had expected. The company was the worst performer among the 30 stocks that make up the Dow average.

Warehouse club operator BJ's Wholesale Club Inc. rose 12 percent after it said it is considering selling itself after months of buyout speculation.

The better economic news pushed Treasury prices lower. The yield on the 10-year Treasury note rose to 3.55 percent from 3.48 percent late Wednesday. Bond prices move in the opposite direction from their yields.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow gained 2.3 percent for the week. The S&P 500 rose 2.7 percent for the week and the Nasdaq 3 percent.

All three major indexes fell last week. Financial markets were jarred by swelling protests in Egypt aimed at toppling Hosni Mubarak's 30-year grip on power.

Stocks eked out modest gains on Friday after the government reported a sharp drop in the unemployment rate.

The Labor Department said the unemployment rate dropped to 9 percent in January, the lowest rate since April 2009 and a sharp fall from 9.4 percent in December. Economists had expected the rate would rise to 9.5 percent, in part because of harsh winter weather that affected much of the country.

At the same time, the government said that 36,000 new jobs were created last month, the fewest in four months. The slow job growth left some analysts doubting that the economic recovery is gathering momentum.


*The NYSE DOW NYSE DOW closed HIGHER +29.89 points +0.25% on Friday February 4*
Sym .......Last .......Change.......... 
Dow 12,092.15 +29.89 +0.25% 
Nasdaq 2,769.30 +15.42 +0.56% 
S&P 500 1,310.87 +3.77 +0.29% 
30-yr Bond 4.7370% +0.0750 

NYSE Volume 4,519,382,500  (prior day 4,984,139,500) 
Nasdaq Volume 1,977,800,750  (prior day 1,956,628,125) 


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,997.38 +14.04 +0.23% 
DAX 7,216.21 +22.53 +0.31% 
CAC 40 4,047.21 +10.62 +0.26%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,958.80 +39.50 +0.80% 
Shanghai Comp 2,799.40 +8.70 +0.31% 
Taiwan We... 9,145.35 +43.02 +0.47% 
Nikkei 225 10,543.52 +112.16 +1.08% 
Hang Seng 23,908.96 +426.01 +1.81% 
Straits Times 3,211.12 +26.38 +0.83%  

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks shrug off mixed unemployment report

Stocks eke out gains after unemployment rate falls and job growth disappoints *

David K. Randall and Matthew Craft, AP Business Writers, On Friday February 4, 2011, 5:10 pm 

NEW YORK (AP) -- Stocks eked out modest gains on Friday after the government reported a sharp drop in the unemployment rate.

The Labor Department said the unemployment rate dropped to 9 percent in January, the lowest rate since April 2009 and a sharp fall from 9.4 percent in December. Economists had expected the rate would rise to 9.5 percent, in part because of harsh winter weather that affected much of the country.

At the same time, the government said that 36,000 new jobs were created last month, the fewest in four months. The slow job growth left some analysts doubting that the economic recovery is gathering momentum.

"We are seeing some improvements but the disappointing jobs creation shows that the job market is not back to where we need it to be," said Ryan Detrick, senior strategist at Schaeffer's Investment Research. The lack of new jobs will likely lead the Federal Reserve to continue its efforts to boost the economy, he said.

Jim O'Sullivan, chief economist at MF Global, said some investors took a skeptical view of the report. "The information value of this report is limited because it was obviously affected by the weather," he said.

The unemployment rate fell even as the economy added few jobs because many people who are unemployed gave up hunting for work, O'Sullivan said. The Labor Department includes only those actively looking for jobs when calculating the main unemployment rate.

Bond traders, however, took the employment report as evidence of a stronger job market. They drove Treasury prices down and yields up. The yield on the benchmark 10-year Treasury note jumped to 3.64 percent, the highest yield since last May. The 10-year yield is widely used to set borrowing rates on a wide variety of loans.

Strong earnings gave some stocks a lift. Health insurer Aetna Inc. shot up 12.5 percent. The company said it will nearly quadruple its quarterly dividend payment to shareholders after its fourth-quarter profit climbed 30 percent.

JDS Uniphase Corp. soared 27 percent. The maker of telecom and cable equipment reported quarterly results that blew past analysts' expectations. Information technology companies saw the strongest gains out of the 10 industries represented in the S&P 500 index.

Tyson Foods Inc. rose almost 6 percent, after its profits increased 86 percent last quarter, in part because of rising prices for beef and pork.

The Dow Jones industrial average rose 29.89 points, or 0.3 percent, to close at 12,092.15. The Dow gained 2.3 percent for the week. The average of 30 large company stocks cleared the 12,000 mark Tuesday, the first time it closed above that level since June 2008.

The Standard & Poor's 500 index rose 3.77 points, or 0.3 percent, to 1,310.87. The Nasdaq composite gained 15.42 points, or 0.6 percent, to 2,769.30.

The S&P 500 rose 2.7 percent for the week and the Nasdaq 3 percent.

All three major indexes fell last week. Financial markets were jarred by swelling protests in Egypt aimed at toppling Hosni Mubarak's 30-year grip on power.

Falling shares and rising ones were almost evenly matched on the New York Stock Exchange. Preliminary trading volume was 920 million shares.

1792


----------



## bigdog

Source: http://finance.yahoo.com

Several big acquisitions and a strong earnings report from Loews Corp. pushed stocks higher Monday.

Pride International Inc. jumped 16 percent after Ensco PLC, a London-based oil rig operator, said it would buy the offshore driller for $7.3 billion.

Beckman Coulter Inc. gained 10 percent after Danaher Corp. said it plans to buy the manufacturer of medical diagnostic tests for $5.8 billion.

Loews Corp. rose 4 percent. The company, which owns Loews hotels and the property insurer CNA Financial Corp., said falling costs helped earnings rise 16 percent even as revenue slipped slightly. The results were higher than analysts were expecting and helped push financial companies higher.

*The NYSE DOW NYSE DOW closed HIGHER +69.48 points +0.57% on Monday February 7*
Sym .......Last .......Change.......... 
Dow 12,161.63 +69.48 +0.57% 
Nasdaq 2,783.99 +14.69 +0.53% 
S&P 500 1,319.05 +8.18 +0.62%  
30-yr Bond 4.7110% -0.0260 

NYSE Volume 4,390,181,000 (prior day  4,519,382,500)
Nasdaq Volume 1,782,761,625 (prior day  1,977,800,750) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,044.16 +46.78 +0.78% 
DAX 7,283.62 +67.41 +0.93% 
CAC 40 4,090.80 +43.59 +1.08%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,964.30 +5.50 +0.11% 
Shanghai Comp 2,799.40 +8.70 +0.31% 
Taiwan We... 9,145.35 +43.02 +0.47% 
Nikkei 225 10,592.04 +48.52 +0.46%  
Hang Seng 23,553.59 -355.37 -1.49% 
Straits Times 3,192.18 -18.94 -0.59% 

http://finance.yahoo.com/news/Deal-news-earnings-push-apf-3151263719.html?x=0

*Deal news, earnings push stocks higher

Stocks rise with deals and earnings, led by financial companies *

Matthew Craft and David K. Randall, AP Business Writers, 

NEW YORK (AP) -- Several big acquisitions and a strong earnings report from Loews Corp. pushed stocks higher Monday.

Pride International Inc. jumped 16 percent after Ensco PLC, a London-based oil rig operator, said it would buy the offshore driller for $7.3 billion.

Beckman Coulter Inc. gained 10 percent after Danaher Corp. said it plans to buy the manufacturer of medical diagnostic tests for $5.8 billion.

Loews Corp. rose 4 percent. The company, which owns Loews hotels and the property insurer CNA Financial Corp., said falling costs helped earnings rise 16 percent even as revenue slipped slightly. The results were higher than analysts were expecting and helped push financial companies higher.

Joseph Saluzzi, co-head of equity trading at Themis Trading, said that with no major economic reports due out this week, mergers and earnings reports will continue to drive stocks higher. Anything that can be construed as good news is likely to give investors a reason to buy stocks, he said.

"The path of least resistance right now is up," Saluzzi said. "People are beginning to assume the market is going higher. It's momentum."

The Dow Jones industrial average rose 69.48 points, or 0.6 percent, to 12,161.63. The Standard & Poor's 500 index rose 8.18, or 0.6 percent, to 1,319.05. The Nasdaq composite gained 14.69, or 0.5 percent, to 2,783.99.

Financial companies rose 1.5 percent, the largest gain of any of the 10 company groups that make up the S&P index.

Lorillard Inc. rose 2 percent after the company, which makes Newport and Maverick cigarettes, said it increased both sales and prices of its products.

AOL Inc. dropped 3.4 percent after saying it would buy the Huffington Post, a news and opinion website, for $315 million. Arianna Huffington, the site's co-founder and political pundit, will join AOL's management team.

Toy maker Hasbro Inc. rose 1.8 percent after reporting earnings that were lower but still beat analysts' expectations.

Bond prices fell slightly, sending their yields higher. The yield on the 10-year Treasury note rose to 3.65 percent from 3.64 percent late Friday.

Monday was the first day of trading since the company that owns the Nasdaq exchange admitted Saturday it had been hacked late last year. The problem did not affect any trades, the company said.

Two stocks rose for every one that fell on the New York Stock Exchange. Volume came to 880 million shares


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average closed higher for the seventh consecutive day Tuesday. That's the longest series of gains for the index since July.

McDonald's Corp. was the biggest gainer of the 30 stocks in the Dow, rising 2.6 percent after reporting January sales that were higher than analysts expected.

Investors took in stride a move by China's central bank to control inflation by raising short-term interest rates.

The Dow Jones industrial average rose 71.52 points, or 0.6 percent, to close at 12,233.15. The index has had only one down day in the last 10, on Jan. 28 when the protests in Egypt escalated.

The Standard & Poor's 500 index rose 5.52, or 0.4 percent, to 1,324.57. The Nasdaq composite index rose 13.06, or 0.5 percent, to 2,797.05.

*The NYSE DOW NYSE DOW closed HIGHER +71.52 points +0.59% on Tuesday February 8*
Sym .......Last .......Change.......... 
Dow 12,233.15 +71.52 +0.59% 
Nasdaq 2,797.05 +13.06 +0.47% 
S&P 500 1,324.57 +5.52 +0.42% 
30-yr Bond 4.7630% +0.0520 

NYSE Volume 4,365,029,500 (prior day  4,390,181,000) 
Nasdaq Volume 1,815,503,625   (prior day 1,782,761,625) 


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,091.33 +40.30 +0.67% 
DAX 7,323.24 +39.62 +0.54% 
CAC 40 4,108.27 +17.47 +0.43%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,983.10 +18.80 +0.38% 
Shanghai Comp 2,799.40 +8.70 +0.31%  
Taiwan We... 9,111.46 -33.89 -0.37% 
Nikkei 225 10,635.98 +43.94 +0.41%  
Hang Seng 23,484.30 -69.29 -0.29% 
Straits Times 3,185.36 -6.82 -0.21% 

http://finance.yahoo.com/news/Dow-c...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Dow closes higher for the seventh straight day

Stocks rise, giving the Dow Jones industrial average its longest winning stretch since July *

David K. Randall, AP Business Writer, On Tuesday February 8, 2011, 5:02 pm 

NEW YORK (AP) -- The Dow Jones industrial average closed higher for the seventh consecutive day Tuesday. That's the longest series of gains for the index since July.

McDonald's Corp. was the biggest gainer of the 30 stocks in the Dow, rising 2.6 percent after reporting January sales that were higher than analysts expected.

Investors took in stride a move by China's central bank to control inflation by raising short-term interest rates.

The Dow Jones industrial average rose 71.52 points, or 0.6 percent, to close at 12,233.15. The index has had only one down day in the last 10, on Jan. 28 when the protests in Egypt escalated.

The Standard & Poor's 500 index rose 5.52, or 0.4 percent, to 1,324.57. The Nasdaq composite index rose 13.06, or 0.5 percent, to 2,797.05.

China raised interest rates for the third time since October in an effort to keep prices from rising too fast. The country's economic boom has resulted in higher prices, forcing some poor families to spend up to half of their incomes on food.

Many large U.S. companies have counted on spending in China for growth. Previously, interest rate hikes in China have resulted in stock losses in the U.S. because of fears that spending there would fall.

Brain Gendreau, market strategist at Financial Network, said investors are becoming less concerned about slower spending in China because they are more confident that the U.S. economy will grow on its own.

"Raising interest rates is what the Chinese need to do when they have such an overheated economy," he said.

Bond prices fell, extending a week of losses and sending their yields higher. The yield on the benchmark 10-year Treasury note rose to 3.73 percent from 3.64 percent Monday, its highest rate since last April.

The government auctioned $32 billion of three-year notes at a yield of 1.34 percent, the highest borrowing rate the government has had to pay on those notes since last May. Interest from foreign buyers was relatively weak.

Better economic news, including a drop in the unemployment rate, has led investors to sell low-yielding government bonds over the past two weeks. Some of that money is going into stocks, especially those of large corporations that pay fat dividends.

Quincy Krosby, market strategist with Prudential Financial, said the Dow average has been benefiting from a flight of money out of bonds as conservative investors seek out large, relatively stable companies such as the 30 that make up the Dow industrials.

"If you were in bonds, chances are you'll buy the large companies with strong balance sheets," Krosby said.

Walt Disney Co. rose 3.7 percent in after-hours trading. The company reported earnings after the market closed that beat expectations thanks in part to higher advertising revenue at its ESPN and ABC television networks.

Avon Products Inc. fell 3 percent to close Tuesday at $28.47 after its fourth-quarter earnings fell and missed expectations.

Three stocks rose for every two that fell on the New York Stock Exchange. Volume was relatively light at 890 million shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks closed mixed Wednesday after the head of the Federal Reserve said unemployment may remain high for several years. The Dow Jones industrial average eked out its eighth straight day of gains, extending its longest advancing streak in nearly a year.

Major indexes traded lower for much of the day after Ben Bernanke, the chairman of the Federal Reserve, told members of the House of Representatives that the economy is strengthening but that companies haven't yet stepped up hiring. Last week, the Labor Department said the unemployment rate dropped to 9 percent in January.

Bond prices rose following Bernanke's testimony, reversing a slump that had pushed yields up to their highest levels since April. The yield on the 10-year Treasury note, which moves opposite to its price, fell to 3.66 from 3.74 late Tuesday.

The Dow Jones industrial average rose 6.74 points, or 0.1 percent, to 12,239.8. The Dow has had only one down day in the last 11, on Jan. 28 when the protests in Egypt escalated. It last finished with eight straight days of gains in March 2010.


*The NYSE DOW NYSE DOW closed HIGHER +6.74 points +0.06% on Wednesday February 9*
Sym .......Last .......Change.......... 
Dow 12,239.89 +6.74 +0.06%  
Nasdaq 2,789.07 -7.98 -0.29% 
S&P 500 1,320.88 -3.69 -0.28% 
30-yr Bond 4.6950% -0.0680  

NYSE Volume 4,522,888,000  (prior day 4,365,029,500)
Nasdaq Volume 1,977,093,500 (prior day  1,815,503,625) 


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,052.29 -39.04 -0.64% 
DAX 7,320.90 -2.34 -0.03% 
CAC 40 4,090.74 -17.53 -0.43%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,995.10 +12.00 +0.24%  
Shanghai Comp 2,773.16 -25.80 -0.92% 
Taiwan We... 9,006.82 -104.64 -1.15% 
Nikkei 225 10,617.83 -18.15 -0.17% 
Hang Seng 23,164.03 -320.27 -1.36% 
Straits Times 3,150.56 -34.80 -1.09% 

http://finance.yahoo.com/news/Dow-e...7.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Dow ekes out 8th straight day of gains

Stocks end mixed after Bernanke says unemployment likely to remain high; Dow ekes out gain *

Matthew Craft and David K. Randall, AP Business Writers, On Wednesday February 9, 2011, 5:07 pm 

NEW YORK (AP) -- Stocks closed mixed Wednesday after the head of the Federal Reserve said unemployment may remain high for several years. The Dow Jones industrial average eked out its eighth straight day of gains, extending its longest advancing streak in nearly a year.

Major indexes traded lower for much of the day after Ben Bernanke, the chairman of the Federal Reserve, told members of the House of Representatives that the economy is strengthening but that companies haven't yet stepped up hiring. Last week, the Labor Department said the unemployment rate dropped to 9 percent in January.

Bond prices rose following Bernanke's testimony, reversing a slump that had pushed yields up to their highest levels since April. The yield on the 10-year Treasury note, which moves opposite to its price, fell to 3.66 from 3.74 late Tuesday.

The Dow Jones industrial average rose 6.74 points, or 0.1 percent, to 12,239.8. The Dow has had only one down day in the last 11, on Jan. 28 when the protests in Egypt escalated. It last finished with eight straight days of gains in March 2010.

The Standard & Poor's 500 lost 3.69 points, or 0.3 percent, to 1,320.88. It was the first down day for the index after four days of gains.

The Nasdaq composite lost 7.98, or 0.3 percent, to 2,789.07.

Two members of the Dow index reported better than expected earnings. Coca-Cola Co. said its income more than tripled last quarter, helped by the acquisition of a bottler and selling more drinks in North America. The stock rose 0.4 percent.

Walt Disney Co. jumped 5.3 percent after reporting strong earnings after the market closed Tuesday. The company beat expectations thanks to higher revenues at its ABC and ESPN networks.

Disney helped push consumer discretionary stocks in the S&P index up 0.6 percent, the largest gain of any of the 10 company groups that make up the index.

American International Group Inc. fell 3 percent after saying it expects to take a charge of $4.1 billion to build up reserves against losses for its Chartis property and casualty insurance units.

NYSE Euronext Inc., the parent company of the exchange, issued a statement confirming that it was in advanced talks with Germany's stock exchange, Deutsche Boerse, about a possible combination. The plan being discussed would create a company 60 percent owned by Deutsche Boerse shareholders with dual headquarters in Frankfurt and New York. NYSE Euronext's stock jumped 14 percent to $38.10.

Two stocks fell for every one that rose on the New York Stock Exchange. Volume came to 960 million shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks finished flat on Thursday, dragged down by Cisco Systems Inc. and Akamai Technologies Inc. Both issued weak earnings forecasts, raising concerns about business and technology spending.

The Dow Jones industrial average ended an eight-day winning streak, entirely a result of Cisco's 14 percent drop. Other indexes managed slight gains.

Cisco, the world's largest networking equipment maker, had the largest fall of the 30 stocks that make up the Dow. The company said late Wednesday that its fourth-quarter income slid 18 percent because of lower sales to government agencies, a problem that could worsen over the next few quarters.

"Cisco is stumbling," said Rob Lutts, president and chief investment officer of Cabot Money Management. "When you're No. 1, it's hard to stay there." Lutts said the weak results reflect Cisco's struggle to stay competitive, not necessarily weakness in the technology industry overall.


*The NYSE DOW NYSE DOW closed LOWER -10.60 points -0.09% on Thursday February 10*
Sym .......Last .......Change.......... 
Dow 12,229.29 -10.60 -0.09%  
Nasdaq 2,790.45 +1.38 +0.05% 
S&P 500 1,321.87 +0.99 +0.07% 
30-yr Bond 4.7730% +0.0780 

NYSE Volume 4,766,073,000  (prior day 4,522,888,000)
Nasdaq Volume 2,522,485,750  (prior day 1,977,093,500) 


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,020.01 -32.28 -0.53%  
DAX 7,340.28 +19.38 +0.26% 
CAC 40 4,095.14 +4.40 +0.11% 


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 5,001.70 +6.60 +0.13% 
Shanghai Comp 2,819.06 +45.00 +1.62%  
Taiwan We... 8,836.56 -170.26 -1.89% 
Nikkei 225 10,605.65 -12.18 -0.11% 
Hang Seng 22,708.62 -455.41 -1.97% 
Straits Times 3,098.79 -51.77 -1.64%  

http://finance.yahoo.com/news/Cisco...ontent/main/1760791927//date/desc/11/s3839761

*Cisco, Akamai pull technology stocks lower

Stocks finish mixed; Cisco, Akamai drag technology stocks lower despite encouraging jobs news *

Chip Cutter and Matthew Craft, AP Business Writers, On Thursday February 10, 2011, 5:45 pm EST 

NEW YORK (AP) -- Stocks finished flat on Thursday, dragged down by Cisco Systems Inc. and Akamai Technologies Inc. Both issued weak earnings forecasts, raising concerns about business and technology spending.

The Dow Jones industrial average ended an eight-day winning streak, entirely a result of Cisco's 14 percent drop. Other indexes managed slight gains.

Cisco, the world's largest networking equipment maker, had the largest fall of the 30 stocks that make up the Dow. The company said late Wednesday that its fourth-quarter income slid 18 percent because of lower sales to government agencies, a problem that could worsen over the next few quarters.

"Cisco is stumbling," said Rob Lutts, president and chief investment officer of Cabot Money Management. "When you're No. 1, it's hard to stay there." Lutts said the weak results reflect Cisco's struggle to stay competitive, not necessarily weakness in the technology industry overall.

Akamai Technologies fell 15 percent after the company said competitors are forcing it to offer lower prices for its Web streaming services. Akamai was the weakest stock in the Standard & Poor's 500 index of large U.S. companies.

Whole Foods Market Inc. rose 12 percent in after the natural foods grocer reported a 79 percent increase in first quarter net income. It had the biggest gain of any stock in the S&P 500.

Sprint Nextel Corp. rose 5.7 percent after the company increased its subscribers under contract for the first time in about four years.

The Dow lost 10.6 points, or 0.1 percent, to close at 12,229.29. The S&P 500 rose a point, or less than 0.1 percent, to 1,321.87. The Nasdaq composite rose 1.38 to close at 2,790.45.

Rising stocks narrowly outpaced declining ones on the New York Stock Exchange. Consolidated trading volume was 4.2 billion shares.

Stocks traded lower much of the day despite positive news on jobs. The Labor Department said 383,000 people applied for unemployment benefits for the first time last week, the lowest level in nearly three years. Economists say applications would need to fall to 375,000 or below on a consistent basis before the unemployment rate will decline.

The Commerce Department also reported that businesses at the wholesale level increased their inventories in December even though demand for their products slowed. The hope is that increased demand will keep factories busy.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks ended the week with a moderate gain Friday after the resignation of Egypt's President Hosni Mubarak eased investors' fears about a spread of violence to oil-producing countries.

The Dow Jones industrial average, down nearly 50 points early in the day as Mubarak tried to remain in office, closed up 44. The price of oil fell to a 10-week low.

Investors have been concerned during the nearly three weeks of anti-government demonstrations in Egypt that the unrest could spread to countries like Saudi Arabia, one of the world's biggest exporters of oil. Traders' uneasiness didn't stop the market from rising in response to strong fourth-quarter earnings, and it didn't' stop the Dow from making its first move past 12,000 since June 2008. But Egypt nonetheless has been a nagging concern.

"The market is relieved that the unrest in Egypt has come to an end with Mubarak having relinquished power," said Peter Cardillo, chief market economist at Avalon Partners.

Cardillo noted that news of Mubarak's resignation came shortly after encouraging U.S. economic news, a pickup in consumer's feelings about the economy. The University of Michigan's consumer sentiment index rose to 75.1 in February, from 74.2 in January, economists said. The index of current conditions rose to 86.8, its highest reading since January 2008.


*The NYSE DOW NYSE DOW closed HIGHER +43.97 points +0.36% on Friday February 11*
Sym .......Last .......Change.......... 
Dow 12,273.26 +43.97 +0.36% 
Nasdaq 2,809.44 +18.99 +0.68% 
S&P 500 1,329.15 +7.28 +0.55%  
30-yr Bond 4.7130% -0.0600 

NYSE Volume 4,767,235,500  (prior day 4,766,073,000) 
Nasdaq Volume 2,076,822,625  (prior day 2,522,485,750) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,062.90 +42.89 +0.71% 
DAX 7,371.20 +30.92 +0.42% 
CAC 40 4,101.31 +6.17 +0.15%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,970.60 -31.10 -0.62%  
Shanghai Comp 2,827.77 +9.60 +0.34%  
Taiwan We... 8,609.86 -226.70 -2.57% 
Nikkei 225 10,605.65 -12.18 -0.11%  
Hang Seng 22,828.92 +120.30 +0.53%  
Straits Times 3,077.27 -26.12 -0.84%  

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks rally after Mubarak relinquishes power

Stocks rise, erasing earlier losses, after Egypt's Mubarak steps down *

Joyce M. Rosenberg, AP Business Writer, On Friday February 11, 2011, 5:00 pm 

NEW YORK (AP) -- Stocks ended the week with a moderate gain Friday after the resignation of Egypt's President Hosni Mubarak eased investors' fears about a spread of violence to oil-producing countries.

The Dow Jones industrial average, down nearly 50 points early in the day as Mubarak tried to remain in office, closed up 44. The price of oil fell to a 10-week low.

Investors have been concerned during the nearly three weeks of anti-government demonstrations in Egypt that the unrest could spread to countries like Saudi Arabia, one of the world's biggest exporters of oil. Traders' uneasiness didn't stop the market from rising in response to strong fourth-quarter earnings, and it didn't' stop the Dow from making its first move past 12,000 since June 2008. But Egypt nonetheless has been a nagging concern.

"The market is relieved that the unrest in Egypt has come to an end with Mubarak having relinquished power," said Peter Cardillo, chief market economist at Avalon Partners.

Cardillo noted that news of Mubarak's resignation came shortly after encouraging U.S. economic news, a pickup in consumer's feelings about the economy. The University of Michigan's consumer sentiment index rose to 75.1 in February, from 74.2 in January, economists said. The index of current conditions rose to 86.8, its highest reading since January 2008.

Economists said they expect consumer confidence to continue to rise this year as hiring increases and consumers' finances improve. The next reading on consumer spending comes Tuesday, when the Commerce Department releases retail sales numbers for January.

The Dow rose 43.97, or 0.4 percent, to 12,273.26, its highest close since June 2008.

The Standard & Poor's 500 index rose 7.28, or 0.6 percent, to 1,329.15. The Nasdaq composite index rose 18.99, or 0.7 percent, to 2,809.44.

Bond prices rose. While investors were pleased with the developments in Egypt, many were also The yield on the 10-year Treasury note, which is used to help set interest rates on loans including mortgages, fell to 3.64 percent from late Thursday's 3.71 percent.

Egypt is not a major producer of oil, but it plays a key role in the industry because it controls the Suez Canal, a major route for oil tankers and cargo ships. Crude oil was trading higher earlier in the day, but fell $1.15 to $85.58 after the news about Mubarak came out.

Wael Ziada, head of Egypt research at EFG-Hermes, says questions will remain for the next few months about how stable the country is and "how the military will be ruling."

Among big stock moves, Expedia plunged 17 percent after the online travel company said its earnings fell 30 percent due to higher expenses. Chipotle Mexican Grill rose 7 percent after its earnings soared 47 percent.

2308


----------



## bigdog

Source: http://finance.yahoo.com

Stocks end mixed after analysts downgrade Wal-Mart; Obama unveils $3.73 trillion budget

Wal-Mart Stores Inc. pulled down the Dow Jones industrial average Monday after analysts at JPMorgan lowered their outlook for the company. The Standard & Poor's 500 index and the Nasdaq closed slightly higher.

JPMorgan's analysts say the world's largest retailer risks losing customers as low-income customers head to discount stores and other shoppers return to more expensive stores. Wal-Mart dropped 1.6 percent and was the weakest company among the 30 that make up the Dow Jones industrial average.

Stocks traded in a tight range throughout the day as investors weighed the impact of President Barack Obama's $3.73 trillion budget proposal for the next fiscal year.

Obama's budget includes a five-year freeze on many domestic spending programs. The White House contends the budget plan for the fiscal year beginning Oct. 1 puts the government on course to cut deficits by about $1.1 trillion over the coming decade.

*The NYSE DOW NYSE DOW closed LOWER -5.07 points -0.04% on Monday February 14*
Sym .......Last .......Change.......... 
Dow 12,268.19 -5.07 -0.04%  
Nasdaq 2,817.18 +7.74 +0.28% 
S&P 500 1,332.32 +3.17 +0.24% 
30-yr Bond 4.6660% -0.0470 

NYSE Volume 3,937,917,250  (prior day 4,767,235,500)
Nasdaq Volume 1,975,964,375  (prior day 2,076,822,625) 


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,060.09 -2.81 -0.05% 
DAX 7,396.63 +25.43 +0.34%  
CAC 40 4,096.62 -4.69 -0.11%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 5,023.40 +52.80 +1.06% 
Shanghai Comp 2,898.97 +71.64 +2.53% 
Taiwan We... 8,685.47 +75.61 +0.88% 
Nikkei 225 10,725.54 +119.89 +1.13% 
Hang Seng 23,121.06 +292.14 +1.28% 
Straits Times 3,104.42 +27.15 +0.88%  

http://finance.yahoo.com/news/WalMa...9.html?x=0&sec=topStories&pos=6&asset=&ccode=

*Wal-Mart weighs on Dow; Stocks close mixed

Stocks end mixed after analysts downgrade Wal-Mart; Obama unveils $3.73 trillion budget * 

David K. Randall and Matthew Craft, AP Business Writers, On Monday February 14, 2011, 4:47 pm 

NEW YORK (AP) -- Wal-Mart Stores Inc. pulled down the Dow Jones industrial average Monday after analysts at JPMorgan lowered their outlook for the company. The Standard & Poor's 500 index and the Nasdaq closed slightly higher.

JPMorgan's analysts say the world's largest retailer risks losing customers as low-income customers head to discount stores and other shoppers return to more expensive stores. Wal-Mart dropped 1.6 percent and was the weakest company among the 30 that make up the Dow Jones industrial average.

Stocks traded in a tight range throughout the day as investors weighed the impact of President Barack Obama's $3.73 trillion budget proposal for the next fiscal year.

Obama's budget includes a five-year freeze on many domestic spending programs. The White House contends the budget plan for the fiscal year beginning Oct. 1 puts the government on course to cut deficits by about $1.1 trillion over the coming decade.

Republicans and Democrats have sparred over how much spending to cut. The worry is that slashing spending could imperil the economic recovery.

Bond prices held steady after details of the budget proposal were revealed. The yield on the benchmark 10-year Treasury note edged down to 3.62 percent, slightly lower than late Friday. A jump in Treasury bond yields would suggest that investors see U.S. debt as increasingly risky.

MGM Resorts International Inc. fell 3 percent after reporting a loss of $139 million last quarter, a little narrower than analysts had expected.

The Dow fell 5.07 points, or less than 0.1 percent, to 12,268.19. The Standard & Poor's 500 index rose 3.17 points, or 0.2 percent, to 1,332.32. The Nasdaq composite gained 7.74 points, or 0.3 percent, to 2,817.18.

Stocks ended last week with a slight gain after the resignation of Egyptian president Hosni Mubarak. That helped push both the Dow and S&P 500 to their highest levels since June 2008.

Rising stocks outpaced falling ones by a small margin on the New York Stock Exchange. Trading volume was 817 million shares.


----------



## Boggo

Something is gonna break soon bigdog.

(click to expand)


----------



## bigdog

Source: http://finance.yahoo.com

A surprisingly weak retail sales report drove stocks lower on Tuesday, giving the Dow Jones industrial average its second straight day of losses.

The Commerce Department said Tuesday that retail sales rose just 0.3 percent in January, the smallest increase since June and half of what economists had predicted.

Kim Caughey Forrest, equity research analyst at Fort Pitt Capital Group, said higher prices for gasoline and raw materials are beginning to be passed along to consumers. That's hurting retail sales and spending, she said.

"Without wage gains," she said, "people are going to buy less."

*The NYSE DOW NYSE DOW closed LOWER -41.55 points -0.34% on Tuesday February 15*
Sym .......Last .......Change.......... 
Dow 12,226.64 -41.55 -0.34% 
Nasdaq 2,804.35 -12.83 -0.46% 
S&P 500 1,328.01 -4.31 -0.32% 
30-yr Bond 4.6650% -0.0010 

NYSE Volume 4,356,807,000  (prior day 3,937,917,250)
Nasdaq Volume 2,019,902,000  (prior day 1,975,964,375) 


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,037.08 -23.01 -0.38% 
DAX 7,400.04 +3.41 +0.05% 
CAC 40 4,110.34 +13.72 +0.33% 


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 5,019.40 -4.00 -0.08%  
Shanghai Comp 2,899.62 +0.49 +0.02% 
Taiwan We... 8,721.93 +36.46 +0.42% 
Nikkei 225 10,746.67 +21.13 +0.20%  
Hang Seng 22,899.78 -221.28 -0.96% 
Straits Times 3,080.66 -23.76 -0.77%  


http://finance.yahoo.com/news/Stocks-fall-after-apf-4064752929.html?x=0

*Stocks fall after surprisingly weak retail sales

Stocks drop after government reports smallest increase in retail sales since June *

Chip Cutter and Matthew Craft, AP Business Writers, On Tuesday February 15, 2011, 4:38 pm 

NEW YORK (AP) -- A surprisingly weak retail sales report drove stocks lower on Tuesday, giving the Dow Jones industrial average its second straight day of losses.

The Commerce Department said Tuesday that retail sales rose just 0.3 percent in January, the smallest increase since June and half of what economists had predicted.

Kim Caughey Forrest, equity research analyst at Fort Pitt Capital Group, said higher prices for gasoline and raw materials are beginning to be passed along to consumers. That's hurting retail sales and spending, she said.

"Without wage gains," she said, "people are going to buy less."

Energy companies led the way down. Exxon Mobil Corp. lost 2.3 percent, the largest drop among the 30 large companies that make up the Dow. Exxon Mobil said it added 3.5 billion barrels of oil and gas last year to the company's massive reserves, more than twice what Exxon produced in 2010.

The Dow fell 41.55, or 0.3 percent, to close at 12,226.64. That's only the third day this month the Dow has closed lower.

The Standard & Poor's 500 index fell 4.31, or 0.3 percent, to 1,328.01. The Nasdaq composite index fell 12.83, or 0.5 percent, to 2,804.35.

The parent company of the New York Stock Exchange agreed to combine with the operator of the Frankfurt stock exchange, Deutsche Boerse AG, creating the world's largest financial markets company.

Shares of both companies fell after the deal was announced. NYSE Euronext's shares lost 3.4 percent in New York, while Deutsche Boerse's lost 2.4 percent in Frankfurt.

One of NYSE's biggest competitors, Nasdaq OMX Group Inc., fell 4.6 percent.

Limelight Networks Inc. jumped 27 percent after the provider of streaming video services narrowed its fourth-quarter loss and issued a better-than-expected forecast for the current quarter. The company is benefiting from consumers turning to the Internet to watch TV and movies; one of its customers is online video company Netflix Inc.

Roughly three stocks fell for every one that rose on the New York Stock Exchange. Trading volume was 929 million shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks rise on stronger earnings, corporate deals; Family Dollar soars on takeover news

Strong earnings results and another round of corporate deals pushed stocks higher Wednesday.

Family Dollar Stores Inc. rose 21 percent to $53.25 after investor Nelson Peltz's firm offered to pay up to $60 a share to take the discount retailer private. That was a 36 percent premium from Tuesday's closing price. Family Dollar rose the most of any stock in the Standard & Poor's 500 index.

Genzyme Corp. rose 1.1 percent after French drug maker Sanofi-Aventis agreed to buy the U.S. biotechnology firm for $20 billion in cash. The deal ended months of haggling between the two companies.

*The NYSE DOW NYSE DOW closed HIGHER  +61.53 points +0.50% on Wednesday February 16*
Sym .......Last .......Change.......... 
Dow 12,288.17 +61.53 +0.50% 
Nasdaq 2,825.56 +21.21 +0.76% 
S&P 500 1,336.32 +8.31 +0.63% 
30-yr Bond 4.6740% +0.0090 

NYSE Volume 4,453,836,500   (prior day 4,356,807,000)
Nasdaq Volume 2,289,081,000  (prior day 2,019,902,000) 


*Europe*
Symbol... ......Last .....Change.......  
FTSE 100 6,085.27 +48.19 +0.80% 
DAX 7,414.30 +14.26 +0.19% 
CAC 40 4,151.26 +40.92 +1.00% 


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 5,018.60 -0.80 -0.02%  
Shanghai Comp 2,924.19 +24.95 +0.86%  
Taiwan We... 8,712.96 -8.97 -0.10% 
Nikkei 225 10,808.29 +61.62 +0.57% 
Hang Seng 23,156.97 +257.19 +1.12% 
Straits Times 3,094.72 +14.06 +0.46% 

http://finance.yahoo.com/news/Stock...9.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks rise after strong earnings, deal news

Stocks rise on stronger earnings, corporate deals; Family Dollar soars on takeover news *

Chip Cutter, AP Business Writer, On Wednesday February 16, 2011, 4:28 pm 

NEW YORK (AP) -- Strong earnings results and another round of corporate deals pushed stocks higher Wednesday.

Family Dollar Stores Inc. rose 21 percent to $53.25 after investor Nelson Peltz's firm offered to pay up to $60 a share to take the discount retailer private. That was a 36 percent premium from Tuesday's closing price. Family Dollar rose the most of any stock in the Standard & Poor's 500 index.

Genzyme Corp. rose 1.1 percent after French drug maker Sanofi-Aventis agreed to buy the U.S. biotechnology firm for $20 billion in cash. The deal ended months of haggling between the two companies.

Dell Inc. rose 12 percent a day after the personal computer maker raised its full-year revenue forecast, a sign that businesses are spending more on technology.

Abercrombie & Fitch Co. rose 7.6 percent after the teen clothing maker said its fourth-quarter net income nearly doubled on strong sales overseas and better U.S. results.

Comcast Corp. also reported earnings that surpassed analysts' expectations. Its stock rose 4 percent after more customers signed up for a combination of TV, high-speed Internet access and digital phone services.

Deere & Co. rose 2.4 percent after the equipment maker said its net income more than doubled, thanks to growing sales of large farm machinery in the U.S. and Canada.

The Dow Jones industrial average rose 61.53, or 0.5 percent, to close at 12,288.17, its highest close since June 13, 2008.

The S&P 500 rose 8.31, or 0.6 percent, to 1,336.32. The Nasdaq composite index rose 21.21, or 0.8 percent, to 2,825.56

The yield on the 10-year Treasury note rose to 3.63 percent from 3.61 percent from late Tuesday.

The Commerce Department reported that new home construction rose in January by the largest amount in 20 months. The pace of construction is still way off from levels seen in a healthy economy, but analysts were optimistic about the report.

"Housing is slowly showing some signs of life here," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research.

The Labor Department also reported that wholesale prices rose sharply in January due to higher costs for gas and other goods. The Federal Reserve reported separately that factories produced more goods for the fifth straight month in January, although overall industrial production fell.

Three stocks rose for every one that fell on the New York Stock Exchange. Volume was 930 million shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks finished higher Thursday after a strong manufacturing report overshadowed a bigger than expected rise in the number of people applying for unemployment benefits.

The Federal Reserve Bank of Philadelphia said its index of manufacturing in the mid-Atlantic region nearly doubled between January and February. The surge in manufacturing was enough to offset a Labor Department report that applications for unemployment benefits rose 25,000 from the previous week.

The Dow Jones industrial average rose 29.97 points, or 0.3 percent, to 12,318.1. The Dow has been rising steadily this month, with only three down days in February. For the month, it's already up 3.6 percent.

The Standard & Poor's 500 index rose 4, or 0.3 percent, to 1,340.43. The Nasdaq composite rose 6, or 0.2 percent, to 2,831.58.

*The NYSE DOW NYSE DOW closed HIGHER +29.97 points +0.24%  on Thursday February 17*
Sym .......Last .......Change.......... 
Dow 12,318.14 +29.97 +0.24% 
Nasdaq 2,831.58 +6.02 +0.21% 
S&P 500 1,340.43 +4.11 +0.31% 
30-yr Bond 4.6620% -0.0120  


NYSE Volume 4,178,351,250  (prior day 4,453,836,500)
Nasdaq Volume 1,952,114,125  (prior day 2,289,081,000)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,087.38 +2.11 +0.03%  
DAX 7,405.51 -8.79 -0.12%  
CAC 40 4,152.31 +1.05 +0.03%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 5,026.00 +7.40 +0.15% 
Shanghai Comp 2,926.96 +3.07 +0.10%  
Taiwan We... 8,683.88 -29.08 -0.33% 
Nikkei 225 10,836.64 +28.35 +0.26% 
Hang Seng 23,301.84 +144.87 +0.63%  
Straits Times 3,082.83 -11.89 -0.38%  

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks pull higher on strong manufacturing report

Stocks turn higher as a strong manufacturing report outweighs a rise in unemployment claims *

Matthew Craft and David K. Randall, AP Business Writers, On Thursday February 17, 2011, 4:25 pm 

NEW YORK (AP) -- Stocks finished higher Thursday after a strong manufacturing report overshadowed a bigger than expected rise in the number of people applying for unemployment benefits.

The Federal Reserve Bank of Philadelphia said its index of manufacturing in the mid-Atlantic region nearly doubled between January and February. The surge in manufacturing was enough to offset a Labor Department report that applications for unemployment benefits rose 25,000 from the previous week.

The Dow Jones industrial average rose 29.97 points, or 0.3 percent, to 12,318.1. The Dow has been rising steadily this month, with only three down days in February. For the month, it's already up 3.6 percent.

The Standard & Poor's 500 index rose 4, or 0.3 percent, to 1,340.43. The Nasdaq composite rose 6, or 0.2 percent, to 2,831.58.

"The initial jobless claims data look disappointing," said Anthony Chan, chief economist at JPMorgan Private Wealth Management. "But from a longer-term perspective we're seeing a pickup in employment."

Chan said the most recent data appears bad compared to the previous week, when claims for unemployment benefits fell to the lowest level since July 2008. But that was partly a result of winter weather in many parts of the country that closed government offices and kept people from applying for benefits.

The government also reported that consumer prices in January were slightly higher than forecast, largely a result of rising food and gas prices. The Consumer Price Index rose 0.4 percent. The core index, which excludes food and energy costs, looked relatively tame, rising 0.2 percent.

Forecasters had expected to see the price index rise 0.3 percent last month, and the core index inch up 0.1 percent.

Barrick Gold Corp., Duke Energy Corp. and J.M. Smucker Co. all rose after reporting stronger earnings results.

Barrick's quarterly profit jumped four-fold, helped by higher production and lower costs. The world's largest gold miner's stock gained 1.9 percent.

Duke Energy's net income grew 23 percent, boosted by gains from selling assets and rising customer demand. Duke gained 2.3 percent.

Profit fell at J.M. Smucker, maker of Jif peanut butter and Folgers coffee, but still beat analysts' expectations. The company also raised its earnings outlook for the year. J.M. Smucker rose 4.2 percent.

Coca-Cola Co. gained 1.8 percent after it announced that it increased its dividend.

Two stocks rose for every one that fell on the New York Stock Exchange. Volume came to 875 million shares.


----------



## bigdog

Source: http://finance.yahoo.com

*Markets will be closed Monday for the President's Day holiday.*

The Dow Jones industrial average continued climbing on Friday, notching its third straight week of gains.

The Dow has lost ground only three days in February. The average of 30 large companies rose 1 percent this week and 4.2 percent for the month.

The broader Standard & Poor's 500 index gained 1 percent this week and is up 4.4 percent in February.

Better manufacturing reports and stronger profits from Dell Inc., McDonald's Corp. and other companies have pushed stocks higher this month. With the earnings season coming to a close, nearly 70 percent of the companies in the S&P 500 that reported results so far have beat analysts' expectations, according to Royal Bank of Scotland.

*The NYSE DOW NYSE DOW closed HIGHER +73.11 points +0.59%  on Fridsday February 18*
Sym .......Last .......Change.......... 
Dow 12,391.25 +73.11 +0.59% 
Nasdaq 2,833.95 +2.37 +0.08% 
S&P 500 1,343.01 +2.58 +0.19% 
30-yr Bond 4.6980% +0.0360 

NYSE Volume 4,419,606,000  (prior day 4,178,351,250)
Nasdaq Volume 2,123,685,000  (prior day 1,952,114,125) 


*Europe*
Symbol... ......Last .....Change.......  
FTSE 100 6,082.99 -4.39 -0.07% 
DAX 7,426.81 +21.30 +0.29% 
CAC 40 4,157.14 +4.83 +0.12%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 5,026.10 +0.10 +0.00%  
Shanghai Comp 2,899.98 -26.99 -0.92%  
Taiwan We... 8,843.84 +159.96 +1.84% 
Nikkei 225 10,842.80 +6.16 +0.06% 
Hang Seng 23,595.24 +293.40 +1.26% 
Straits Times 3,086.92 +4.09 +0.13% 

http://finance.yahoo.com/news/Stock...content/main/1831595591/date/desc/11/s4054556

*Dow notches third straight week of gains

Dow and S&P 500 make gains; Caterpillar leads the Dow higher *

David K. Randall and Matthew Craft, AP Business Writers, On Friday February 18, 2011, 5:45 pm 

NEW YORK (AP) -- The Dow Jones industrial average continued climbing on Friday, notching its third straight week of gains.

The Dow has lost ground only three days in February. The average of 30 large companies rose 1 percent this week and 4.2 percent for the month.

The broader Standard & Poor's 500 index gained 1 percent this week and is up 4.4 percent in February.

Better manufacturing reports and stronger profits from Dell Inc., McDonald's Corp. and other companies have pushed stocks higher this month. With the earnings season coming to a close, nearly 70 percent of the companies in the S&P 500 that reported results so far have beat analysts' expectations, according to Royal Bank of Scotland.

Caterpillar Inc. rose 2.4 percent to lead the Dow. The company said sales of its heavy construction and mining equipment surged 49 percent last month.

Alcoa Inc. fell 1.4 percent, the largest drop.

The Dow gained 73.11 points, or 0.6 percent, to close at 12,391.25. The S&P 500 rose 2.58 points, or 0.2 percent, to 1,343.01. The Nasdaq composite rose 2.37, or less than 0.1 percent, to 2,833.95.

The Nasdaq is now 25 points away from reaching a 10-year high.

Finance ministers and central bankers from countries in the Group of 20 met in Paris Friday to discuss issues affecting the global economy. In a speech at the conference, Federal Reserve chairman Ben Bernanke said that countries with large trade surpluses like China should let their currencies rise in value in order to prevent another financial crisis. He also said that countries with large trade deficits must reduce government spending over time, an apparent reference to the United States.

Campbell Soup Co. fell 4 percent after the company said its profit fell 8 percent in its latest quarter. The company also cut its outlook for the rest of its fiscal year.

Intuit Inc. jumped 7 percent after the personal finance software maker raised its forecast for full-year earnings growth late Thursday.

Rising shares outpaced falling ones by a nearly three to two margin on the New York Stock Exchange. Consolidated trading volume was 4 billion shares.

Markets will be closed Monday for the President's Day holiday.


----------



## bigdog

Source: http://finance.yahoo.com

Fears that Libya is heading toward deepening chaos hit stocks Monday and pushed oil prices sharply higher.

With reports suggesting that over 200 people have been killed in clashes across the country, which have spread to the capital Tripoli, investors are getting increasingly worried about the escalating violence in one of Africa's biggest oil producers.

*NYSE Markets were closed Monday for the President's Day holiday.*

Sym .......Last .......Change.......... 
Dow 12,391.25 NYSE Markets were closed Monday for the President's Day holiday
Nasdaq 2,833.95 
S&P 500 1,343.01 
30-yr Bond 4.6980% 

NYSE Volume 4,419,606,000 
Nasdaq Volume 2,123,685,000 


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,014.80 -68.19 -1.12% 
DAX 7,321.81 -105.00 -1.41% 
CAC 40 4,097.41 -59.73 -1.44%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,990.90 -35.20 -0.70% 
Taiwan We... 8,839.22 -4.62 -0.05% 
Shanghai Comp 2,932.76 +32.96 +1.14% 
Nikkei 225 10,857.53 +14.73 +0.14% 
Hang Seng 23,485.42 -109.82 -0.47% 
Straits Times 3,070.60 -16.32 

http://finance.yahoo.com/news/Libyan-clashes-hits-stocks-as-apf-1713905282.html?x=0

*Libyan clashes hits stocks as oil prices surge

Libyan violence hits stocks as oil prices surge; Brent crude hits new 2 and a half year high *

Pan Pylas, AP Business Writer, On Monday February 21, 2011, 12:00 pm EST 

LONDON (AP) -- Fears that Libya is heading toward deepening chaos hit stocks Monday and pushed oil prices sharply higher.

With reports suggesting that over 200 people have been killed in clashes across the country, which have spread to the capital Tripoli, investors are getting increasingly worried about the escalating violence in one of Africa's biggest oil producers.

Those concerns were heightened by a statement from Seif al-Islam Gadhafi, the son of Libya's longtime leader Moammar Gadhafi. Blaming everyone from drug addicts to the media for the current turmoil afflicting Libya, he warned that civil war was a real possibility and that his father would fight until "the last bullet."

Unlike Tunisia and Egypt, which have already seen popular uprisings that deposed longtime leaders, Libya is a member of producer cartel OPEC and has a direct impact on global oil production.

The country is one of the world's biggest oil producers, accounting for around 2 percent of global daily output, and has the biggest proven oil reserves in Africa. Already three leading oil companies, Italy's ENI, Norway's Statoil and Britain's BP, have already said they are pulling some employees out of Libya or preparing to do so.

"Libya is the first major oil exporter to be engulfed by the crisis and the first to see significant disruption to oil production," said Julian Jessop, chief international economist at Capital Economics.

Unsurprisingly, the main impact was in the oil markets. Benchmark crude for March delivery was up $4.13, or 4.8 percent, at $90.13 a barrel in electronic trading on the New York Mercantile Exchange, while Brent crude in London spiked $2.35 a barrel, or 2.3 percent, to $104.84, having earlier struck a two and a half year high above $105.

Rising oil prices are a particular worry for investors as they reinforce fears over inflation and raw materials costs. They also stoke fears of a big drop in global demand levels, as evidenced in previous oil price shocks in 1973-4, 1979 and 2008.

Given that unappetizing backdrop, investors' appetite for risk in other markets fell sharply. When risk appetite is low, investors usually look for shelter in the perceived safe havens of the U.S. dollar and gold at the expense of more risky investments such as stocks.

"Political risk is hanging over a big proportion of the world's oil supplies," said Simon Derrick, an analyst at Bank of New York Mellon. "I can see safe haven buying the natural outcome of all this."

In Europe, Germany's DAX index closed down 105 points, or 1.4 percent, at 7,321.81 while the CAC-40 in Paris fell 59.73 points, or 1.4 percent, to 4,097.41. The FTSE 100 index of leading British shares ended 68.19 points, or 1.1 percent, at 6,014.80.

Markets in the U.S. will be closed Monday for the President's Day holiday.

In the currency markets, the euro fell 0.1 percent to $1.3671, while the dollar was unchanged at 83.17 yen. Among commodities, an ounce of gold spiked over $17 to $1,406.

The unrest in Libya dominated European markets and deflected attention from positive economic data and a heavy defeat for German Chancellor Angela Merkel's party at a state election.

Particularly strong was a survey showing that business confidence in Germany, Europe's biggest economy, has risen once again to hit a new two-decade high. The Ifo institute said its confidence index -- a closely watched indicator -- was up to 111.2 points for February from 110.3 in January. It was the ninth consecutive month-on-month rise.

Despite a buoyant German economy, Merkel's Christian Democrats lost badly in Hamburg.

Lee Hardman, a currency economist at the Bank of Tokyo Mitsubishi-UFJ said the defeat could prove to be a significant development should it set a precedent going forward. The next two upcoming state elections are on March 27, two days before a crucial summit of EU leaders.

"Should the CDU party continue to lose national support ahead it could damage its ability to deal effectively with the eurozone debt crisis," Hardman said.

Earlier in Asia, investors also had their first chance to respond to Friday's decision by the monetary authorities in China to increase the amount banks hold in reserve. The 0.5 percent increase was announced after Asian markets had closed.

Mainland Chinese shares shrugged off the central bank's move. The benchmark Shanghai Composite Index gained 1.1 percent to 2,932.25. The Shenzhen Composite Index gained 1.9 percent to 1,297.66.

Elsewhere, Japan's Nikkei 225 stock average rose 0.1 percent to 10,857.53 with the index enjoying a six-day winning streak to close at a 10-month high.

Hong Kong's Hang Seng index lost 0.4 percent to 23,508.62, while South Korea's Kospi fell 0.4 percent to 2,005.30 and Australia's S&P/ASX 200 shed 0.7 percent to 4,900.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks had their worst drop this year and oil prices surged Tuesday after Libyan leader Moammar Gadhafi clung to power in the face of mounting protests.

The capital of the oil-rich country has plunged into chaos. That's causing to concerns that the unrest that has already toppled dictators in two of Libya's neighbors, Tunisia and Egypt, could spread to other countries in the region like Iran and disrupt the flow of oil.

Oil prices jumped 6 percent to $95 a barrel. Libya is the world's 15th largest exporter of crude, accounting for 2 percent of global daily output. It also has the largest oil reserves in Africa.

The Dow Jones industrial average sank 178.46 points, or 1.4 percent, to close at 12,212.79. It was the biggest drop since Nov. 16. Bond prices rose as investors sought safety.

Gadhafi vowed to fight to his "last drop of blood" and roared at his supporters to take to the streets against protesters demanding his ouster. A violent crackdown in Tripoli has resulted in wild shooting and bodies in the streets. Protesters backed by defecting army units claimed control over the eastern half of Libya's Mediterranean coast.

The Standard & Poor's 500 index fell 27.57, or 2 percent, to 1,315.44. It was the S&P's worst day since Aug. 11.

The Nasdaq fell 77.53, or 2.7 percent, to 2,756.42.



*The NYSE DOW NYSE DOW closed LOWER -178.46 points -1.44% 
 on Tuesday February 22*
Sym .......Last .......Change.......... 
Dow 12,212.79 -178.46 -1.44% 
Nasdaq 2,756.42 -77.53 -2.74% 
S&P 500 1,315.44 -27.57 -2.05% 
30-yr Bond 4.6050% -0.0930 

NYSE Volume 6,294,272,000  (prior day 4,419,606,000)
Nasdaq Volume 2,284,211,500  (prior day 2,123,685,000) 


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,996.76 -18.04 -0.30% 
DAX 7,318.35 -3.46 -0.05% 
CAC 40 4,050.27 -47.14 -1.15%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,947.30 -43.60 -0.87% 
Shanghai Comp 2,855.96 -76.29 -2.60% 
Taiwan We... 8,673.67 -165.55 -1.87% 
Nikkei 225 10,664.70 -192.83 -1.78% 
Hang Seng 22,990.81 -494.61 -2.11% 
Straits Times 3,019.12 -51.48 -1.68% 

http://finance.yahoo.com/news/Libya-unrest-rattles-markets-apf-3667776437.html

*Libya unrest rattles markets; oil prices jump

Violence in Libya sends oil prices spiking and stocks falling; oil production threatened *

Chip Cutter and Matthew Craft, AP Business Writer, On Tuesday February 22, 2011, 6:03 pm EST 

NEW YORK (AP) -- Stocks had their worst drop this year and oil prices surged Tuesday after Libyan leader Moammar Gadhafi clung to power in the face of mounting protests.

The capital of the oil-rich country has plunged into chaos. That's causing to concerns that the unrest that has already toppled dictators in two of Libya's neighbors, Tunisia and Egypt, could spread to other countries in the region like Iran and disrupt the flow of oil.

Oil prices jumped 6 percent to $95 a barrel. Libya is the world's 15th largest exporter of crude, accounting for 2 percent of global daily output. It also has the largest oil reserves in Africa.

The Dow Jones industrial average sank 178.46 points, or 1.4 percent, to close at 12,212.79. It was the biggest drop since Nov. 16. Bond prices rose as investors sought safety.

Gadhafi vowed to fight to his "last drop of blood" and roared at his supporters to take to the streets against protesters demanding his ouster. A violent crackdown in Tripoli has resulted in wild shooting and bodies in the streets. Protesters backed by defecting army units claimed control over the eastern half of Libya's Mediterranean coast.

The Standard & Poor's 500 index fell 27.57, or 2 percent, to 1,315.44. It was the S&P's worst day since Aug. 11.

The Nasdaq fell 77.53, or 2.7 percent, to 2,756.42.

The main worry among traders is that unrest will spread to other oil-rich countries in the Middle East and North Africa. Protests are continuing in Yemen and Bahrain.

Jim Ritterbusch, an energy analyst, said a "fear premium" has added about $10 a barrel to oil prices in recent days. Prices could tumble once the region settles down, he said.

Oil producers rose with the prospect of a drop in oil supply. Chevron Corp. gained 1.6 percent, the largest gain among the 30 large companies that make up the Dow Jones industrial average. Exxon Mobil Corp. rose 1 percent.

Higher fuel costs hurt airline stocks. Delta Air Lines Inc., American Airlines parent AMR Corp., United Continental Holdings Inc. and US Airways Group Inc. all dropped by 5 percent or more.

Investors drove into the relative safety of Treasurys, pushing their prices higher and lowering their yields. The yield on the 10-year Treasury fell to 3.46 percent from 3.59 percent late Friday.

Brian Bethune, an economist at IHS Global Insight, said a $10 rise in the price of oil subtracts roughly 0.4 percentage point from economic growth. An increase to $150 or $160 a barrel could knock the economy into a recession, Bethune and other economists say.

Higher oil prices also pinch U.S. consumers by pushing up the price of gas. "This puts a damper on consumer optimism, which is really critical at this stage of the recovery," said Alan Gayle, senior investment strategist for RidgeWorth Investments.

Wal-Mart Stores Inc. fell 3 percent after revenue at stores open at least a year fell for the seventh straight quarter. That raised worries about the company's ability to turn around its U.S. business this year.

Barnes & Noble Inc. fell 14 percent after the bookseller said its net income fell 25 percent. The company also suspended its dividend and said it would not forecast its fourth-quarter or full-year earnings following last week's bankruptcy filing by Borders Group.

Falling stocks outnumbered rising ones nine to one on the New York Stock Exchange. Consolidated trading volume was 5.5 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks fell for a second straight day Wednesday after clashes in Libya sent oil prices to two-year highs and technology giant Hewlett-Packard said its revenue growth was slowing.

Forces loyal to Libyan leader Moammar Gadhafi continued to fight with anti-government demonstrators, leading to widespread chaos and shooting in the streets of the Libyan capital, Tripoli. Nearly 300 people have been killed, according to the New York-based Human Rights Watch.

The unrest sent oil up 3.5 percent to nearly $99 a barrel, its highest price since October 2008. Libya is the world's 15th largest exporter of crude, accounting for 2 percent of global daily output. Traders are worried the revolt could threaten Libya's oil production and spread to other countries in the region.

"We're at a point where the market is concerned over this series of dominoes in the Middle East and wonders if there's another country that's next to fall," said David Katz, a portfolio strategist for Weiser Capital Management.


*The NYSE DOW NYSE DOW closed LOWER -107.01 points -0.88% on Wednesday February 23*
Sym .......Last .......Change.......... 
Dow 12,105.78 -107.01 -0.88% 
Nasdaq 2,722.99 -33.43 -1.21% 
S&P 500 1,307.40 -8.04 -0.61% 
30-yr Bond 4.5980% -0.0070 


NYSE Volume 6,563,981,000 ,000 (prior day 6,294,272) 
Nasdaq Volume 2,484,217,750  (prior day 2,284,211,500) 


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,923.53 -73.23 -1.22% 
DAX 7,194.60 -123.75 -1.69% 
CAC 40 4,013.12 -37.15 -0.92%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,935.60  
Shanghai Comp 2,862.63  
Taiwan We... 8,528.94 
Nikkei 225 10,579.10  
Hang Seng 22,906.90  
Straits Times 3,001.85 

http://finance.yahoo.com/news/Stock...9.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks fall on Libya tensions, H-P earnings

Stocks drop as oil jumps to two-year high, traders remain concerned about protests in Libya *

Chip Cutter and David K. Randall, AP Business Writers, On Wednesday February 23, 2011, 4:34 pm 

NEW YORK (AP) -- Stocks fell for a second straight day Wednesday after clashes in Libya sent oil prices to two-year highs and technology giant Hewlett-Packard said its revenue growth was slowing.

Forces loyal to Libyan leader Moammar Gadhafi continued to fight with anti-government demonstrators, leading to widespread chaos and shooting in the streets of the Libyan capital, Tripoli. Nearly 300 people have been killed, according to the New York-based Human Rights Watch.

The unrest sent oil up 3.5 percent to nearly $99 a barrel, its highest price since October 2008. Libya is the world's 15th largest exporter of crude, accounting for 2 percent of global daily output. Traders are worried the revolt could threaten Libya's oil production and spread to other countries in the region.

"We're at a point where the market is concerned over this series of dominoes in the Middle East and wonders if there's another country that's next to fall," said David Katz, a portfolio strategist for Weiser Capital Management.

Oil companies benefited from the higher crude prices. Chevron Corp. was the biggest gainer in the Dow average, rising 1.9 percent. Exxon Mobil Corp also gained 1.9 percent. Energy companies in the Standard & Poor's 500 index rose 2 percent, the only gain among its 10 company groups.

The Dow Jones industrial average lost 107.01 points, or 0.9 percent, to 12,105.78. The S&P 500 fell 8.04, or 0.6 percent, to 1,307.40. The Nasdaq composite fell 33.43, or 1.2 percent, to 2,722.99.

Each major index has gained more than 10 percent over the last three months, leading some analysts to say that the situation in Libya is giving traders an opportunity to sell and lock in profits after the market's recent run-up.

The market's two-day stumble is only its second significant decline this year. The other came on Jan. 28, when protests in Egypt escalated.

"The market has strong fundamentals and those will once again dominate very shortly," said Doug Cote, senior market strategist with ING Investment Management.

Technology stocks fell after Hewlett-Packard Co., a bellwether for the group, gave a disappointing revenue forecast for the current fiscal year. The stock fell 9.6 percent, the most out of the 30 that make up the Dow average.

Government bond prices slipped after an auction for five-year notes drew only modest demand. The yield on the benchmark 10-year Treasury note rose to 3.48 percent from 3.46 percent late Tuesday. Bond yields rise when their prices fall.

DirecTV Group Inc. rose 1.8 percent after the satellite TV provider said it attracted more new subscribers in the fourth quarter than it has in a decade. Washington Post Co. fell 5.9 percent after its fourth-quarter net income fell 3 percent on flat revenue.

Two stocks fell for every one that rose on the New York Stock Exchange. Volume came to 1.3 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks fell for a third day Thursday as concerns continued over how violent clashes in Libya would affect the global oil market. Major indexes pared steeper losses in the afternoon after oil prices fell for the first time in nine days.

Oil fell to $97.28 a barrel after the International Energy Agency said fighting between forces loyal to Moammar Gadhafi and anti-government protesters in Libya were not affecting oil inventories as much as analysts had feared. Libya is the world's 15th largest exporter of crude, accounting for 2 percent of global daily output. Oil had traded as high as $103.41 earlier in the day.

Traders are worried that fighting could threaten Libya's oil production and spread to other countries in the region, such as oil-rich Saudi Arabia. Higher oil prices can also slow the U.S. economy by increasing transportation costs.


*The NYSE DOW NYSE DOW closed LOWER  -37.28 points -0.31% on Thursday February 24*
Sym .......Last .......Change.......... 
Dow 12,068.50 -37.28 -0.31%  
Nasdaq 2,737.90 +14.91 +0.55%  
S&P 500 1,306.10 -1.30 -0.10% 
30-yr Bond 4.5350% -0.0630  

NYSE Volume 5,858,770,000  (prior day 6,563,981,000,000)
Nasdaq Volume 2,119,965,750 (prior day  2,484,217,750)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,919.98 -3.55 -0.06% 
DAX 7,130.50 -64.10 -0.89% 
CAC 40 4,009.64 -3.48 -0.09%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,901.10 -34.50 -0.70%  
Shanghai Comp 2,879.21 +16.57 +0.58% 
Taiwan We... 8,541.64 +12.70 +0.15% 
Nikkei 225 10,452.71 -126.39 -1.19% 
Hang Seng 22,601.04 -305.86 -1.34% 
Straits Times 2,973.73 -28.12 -0.94% 

http://finance.yahoo.com/news/Stocks-slide-for-a-third-day-apf-989585637.html?x=0

*Stocks slide for a third day on Libya concerns

Stocks end lower, but pare deeper losses, as oil prices fall for the first time in nine days *

Chip Cutter and David K. Randall, AP Business Writers, On Thursday February 24, 2011, 4:40 pm EST 

NEW YORK (AP) -- Stocks fell for a third day Thursday as concerns continued over how violent clashes in Libya would affect the global oil market. Major indexes pared steeper losses in the afternoon after oil prices fell for the first time in nine days.

Oil fell to $97.28 a barrel after the International Energy Agency said fighting between forces loyal to Moammar Gadhafi and anti-government protesters in Libya were not affecting oil inventories as much as analysts had feared. Libya is the world's 15th largest exporter of crude, accounting for 2 percent of global daily output. Oil had traded as high as $103.41 earlier in the day.

Traders are worried that fighting could threaten Libya's oil production and spread to other countries in the region, such as oil-rich Saudi Arabia. Higher oil prices can also slow the U.S. economy by increasing transportation costs.

Reports of ample oil inventories "calmed some of the short-term fears in the market," said Bruce McCain, chief investment strategist at Key Private Bank. "But the fact that there is very little real information coming out the country is worrying."

The Dow Jones industrial average fell 37.28 points, or 0.3 percent, to 12,068.50. It had been down as many as 122 points earlier in the day.

The Standard & Poor's 500 index fell 1.30, or 0.1 percent, to 1,306.10. The Nasdaq composite gained 14.91 points, or 0.5 percent, to 2,737.90.

The mixed stock performance came the same day the Labor Department reported that fewer people applied for unemployment benefits last week, a sign that the job market is recovering. The four-week average for applications, a figure closely watched by financial analysts, fell to its lowest level in more than two and a half years.

The housing market, however, continued to lag. The Commerce Department said sales of new homes fell significantly in January.

Several companies rose after announcing better than expected earnings.

Priceline.com11 Inc. jumped 8.5 percent after the online travel service reported a 73 percent surge in fourth-quarter earnings and raised its income forecast for the current quarter. Target Corp. rose 3.5 percent after the retailer reported an 11 percent gain in profit. H&R Block Inc. rose 5 percent after the tax preparation company said it expected to report near break-even earnings in its fiscal third quarter.

Bond prices rose, pushing their yields lower. The yield on the 10-year Treasury note fell to 3.46 percent from 3.49 percent late Wednesday.

Rising and falling shares were about even on the New York Stock Exchange. Volume came to 1.2 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

All three indexes are still down for the week, largely a result of the fighting in Libya.

Despite this week's slide, the S&P 500 is up 2.6 percent in February and 4.9 percent for the year. Stronger earnings from a wide range of companies, including Archer Daniels Midland Co. and Dell Inc., have helped drive stocks higher

Stocks rose Friday as oil prices stabilized following a recent jump. The escalating turmoil in Libya still left major indexes down about 2 percent for the week.

Oil prices settled at $97.88, down from a high of $103 Thursday but still up 13 percent over the last week. Oil prices have been rising, sending stocks lower, as concerns rose that violence would spread throughout North Africa and the Middle East, affecting oil production for big OPEC producers like Iran and Saudi Arabia.

Those concerns eased late Thursday after the International Energy Agency said the impact was far less than analysts had estimated and that any shortfall could be easily made up by tapping oil reserves in other countries.

*The NYSE DOW NYSE DOW closed HIGHER +61.95 points +0.51% on Friday February 25*
Sym .......Last .......Change.......... 
Dow 12,130.45 +61.95 +0.51% 
Nasdaq 2,781.05 +43.15 +1.58% 
S&P 500 1,319.88 +13.78 +1.06%  
30-yr Bond 4.5160% -0.0190  

NYSE Volume 4,389,704,000  (prior day 5,858,770,000)
Nasdaq Volume 1,901,782,500  (prior day 2,119,965,750) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,001.20 +81.22 +1.37% 
DAX 7,185.17 +54.67 +0.77% 
CAC 40 4,070.38 +60.74 +1.51%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,924.90 +23.80 +0.49%  
Shanghai Comp 2,878.58 -0.02 0.00%  
Taiwan We... 8,599.65 +58.01 +0.68% 
Nikkei 225 10,526.76 +74.05 +0.71% 
Hang Seng 23,012.37 
Straits Times 3,025.16 +52.08 +1.75%  

http://finance.yahoo.com/news/Stocks-recover-as-crude-oil-apf-544008071.html?x=0

*Stocks recover as crude oil prices stabilize

Stocks rise for first time in 3 days as oil prices hold steady; Boeing jumps on tanker deal *

Matthew Craft, AP Business Writer, On Friday February 25, 2011, 5:45 pm EST 

NEW YORK (AP) -- Stocks rose Friday as oil prices stabilized following a recent jump. The escalating turmoil in Libya still left major indexes down about 2 percent for the week.

Oil prices settled at $97.88, down from a high of $103 Thursday but still up 13 percent over the last week. Oil prices have been rising, sending stocks lower, as concerns rose that violence would spread throughout North Africa and the Middle East, affecting oil production for big OPEC producers like Iran and Saudi Arabia.

Those concerns eased late Thursday after the International Energy Agency said the impact was far less than analysts had estimated and that any shortfall could be easily made up by tapping oil reserves in other countries.

Boeing Co. rose 2.2 percent after the Air Force awarded the company a $35 billion contract Thursday, one of the largest ever made by the military, for nearly 200 airborne refueling tankers.

DreamWorks Animation SKG Inc. fell 2.8 percent after the entertainment company reported revenue and earnings that were far below what analysts were expecting. Poor box office results from the Will Ferrell movie "Megamind" were partly to blame.

The Dow Jones industrial average rose 61.95, or 0.5 percent, to close at 12,130.45. It was the first rise for the Dow after three days of losses.

The Standard & Poor's 500 index rose 13.78, or 1.1 percent, to 1,319.88. The Nasdaq composite rose 43.15, or 1.6 percent, to 2,781.05

All three indexes are still down for the week, largely a result of the fighting in Libya.

Libya is Africa's largest producer of oil but only ranks 15th among the world's oil exporters. Traders have been concerned that fighting could not only threaten Libya's oil production but also spread to other countries in the region such as Saudi Arabia.

Higher oil prices also weigh on the U.S. economy by increasing the costs of moving goods and filling up gas tanks. A sustained $10 increase in the price of oil translates into a 0.2 percent cut in economic growth over 12 months, according to a recent estimate by economists at Goldman Sachs.

Treasurys inched up Friday on reports the economy grew more slowly than first thought in the last three months of 2010. The yield on the 10-year Treasury note edged down to 3.42 percent from 3.46 percent late Thursday.

The Commerce Department said the economy expanded at an annual rate of 2.8 percent in the October-December quarter. That's weaker than the previous estimate of 3.2 percent. In an attempt to close budget gaps, state and local governments have cut spending much more deeply than previously thought.

Despite this week's slide, the S&P 500 is up 2.6 percent in February and 4.9 percent for the year. Stronger earnings from a wide range of companies, including Archer Daniels Midland Co. and Dell Inc., have helped drive stocks higher.

Five stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume was 3.9 billion shares.

3566


----------



## bigdog

Source: http://finance.yahoo.com

Stabilizing oil prices and more signs of a stronger economy sent stocks sharply higher Monday. The Standard and Poor's 500 index had its best start of any year since 1998.

Oil prices fell to about $97 a barrel as worries over the global oil market eased after reports that some Libyan ports reopened to oil tankers and Saudi Arabia was boosting exports. Prices surged above $100 a barrel last week as clashes between rebels and government-backed forces intensified in Libya.

The Commerce Department said consumer incomes rose by the largest amount in nearly two years in January, thanks to a tax cut that began last month. The head of the Federal Reserve Bank of New York, meanwhile, said that the country's economic outlook has "improved considerably."

The Dow Jones industrial average gained 95.89 points, or 0.8 percent, to close at 12,226.34. The Standard and Poor's 500 rose 7.34, or 0.6 percent, to 1,327.22. The Nasdaq composite rose 1.22 points, or less than 0.1 percent, to 2,782.27.

All three major stock indexes posted their third straight month of gains. The last time that happened was in the three-month period that ended last April. The S&P 500 gained 3.2 percent in February, the Dow 2.8 percent and the Nasdaq 3 percent. Those figures don't include dividends.

*The NYSE DOW NYSE DOW closed HIGHER +95.89 points +0.79%  on Monday February 28*
Sym .......Last .......Change.......... 
Dow 12,226.34 +95.89 +0.79% 
Nasdaq 2,782.27 +1.22 +0.04% 
S&P 500 1,327.22 +7.34 +0.56% 
30-yr Bond 4.49% -0.0260 


NYSE Volume 4,672,227,500   (prior day 4,389,704,000)
Nasdaq Volume 2,058,004,000  (prior day 1,901,782,500) 


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,994.01 -7.19 -0.12% 
DAX 7,272.32 +87.15 +1.21% 
CAC 40 4,110.35 +39.97 +0.98% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,922.60 -2.30 -0.05%  
Shanghai Comp 2,905.46 +0.40 +0.01%  
Taiwan We... 8,599.65 +58.01 +0.68% 
Nikkei 225 10,624.09 +97.33 +0.92% 
Hang Seng 23,338.02 +325.65 +1.42%  
Straits Times 3,010.51 -14.65 -0.48% 

http://finance.yahoo.com/news/Stocks-open-higher-following-apf-3669527765.html?x=0

*Easing oil prices, deal news send stocks higher

Stocks rise on better economic reports, deal news and stabilizing oil prices *

Chip Cutter and David K. Randall, AP Business Writers, On Monday February 28, 2011, 6:14 pm EST 

NEW YORK (AP) -- Stabilizing oil prices and more signs of a stronger economy sent stocks sharply higher Monday. The Standard and Poor's 500 index had its best start of any year since 1998.

Oil prices fell to about $97 a barrel as worries over the global oil market eased after reports that some Libyan ports reopened to oil tankers and Saudi Arabia was boosting exports. Prices surged above $100 a barrel last week as clashes between rebels and government-backed forces intensified in Libya.

The Commerce Department said consumer incomes rose by the largest amount in nearly two years in January, thanks to a tax cut that began last month. The head of the Federal Reserve Bank of New York, meanwhile, said that the country's economic outlook has "improved considerably."

The Dow Jones industrial average gained 95.89 points, or 0.8 percent, to close at 12,226.34. The Standard and Poor's 500 rose 7.34, or 0.6 percent, to 1,327.22. The Nasdaq composite rose 1.22 points, or less than 0.1 percent, to 2,782.27.

All three major stock indexes posted their third straight month of gains. The last time that happened was in the three-month period that ended last April. The S&P 500 gained 3.2 percent in February, the Dow 2.8 percent and the Nasdaq 3 percent. Those figures don't include dividends.

The S&P index has risen 5.5 percent in January and February, its fastest increase at the start of a year since it jumped 8.1 percent in the first two months of 1998, according to Howard Silverblatt, senior index analyst at S&P.

A new round of corporate deals also helped push some stocks higher. Ventas Inc., which owns senior housing communities, said it would buy Nationwide Health Properties Inc. in a $5.8 billion deal that will create the nation's largest health care real-estate investment trust. Nationwide Health rose 10 percent, while Ventas fell 3 percent.

Australia's Equinox Minerals Limited, a mining company, said it would make a hostile bid to acquire Canada's Lundin Mining Corp. for $4.9 billion in cash and stock. Lundin rose 19 percent while Equinox fell 9 percent. Both trade on the Toronto Stock Exchange.

The deals came just two days after Warren Buffett said in his annual letter to investors that he is "itchy" to make more big acquisitions for his company, Berkshire Hathaway Inc. Berkshire had $38 billion in cash at the end of last year. Its shares rose 2.8 percent.

Humana Inc. rose 3.8 percent after the health insurer raised its 2011 earnings forecast for the third time since November. The company also said it regained a contract to provide coverage for 3 million active duty and retired military members and their families in several Southern states.

Amazon.com Inc. fell 2.2 percent after an analyst at UBS downgraded the company and said that its new video streaming service will cut into its profit margins.

Bond prices were little changed. The yield on the 10-year Treasury note was unchanged from late Friday at 3.42 percent.

Two stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 3.5 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks suffered steep losses as oil prices surged on Tuesday, renewing worries that higher fuel prices could hobble the economic recovery.

Oil rose $2.66 to settle at $99.63 a barrel amid unrest in Iran and Libya. Iran clamped down on anti-government protesters and forces loyal to Libya's leader Moammar Gadhafi launched counter-attacks against rebels expanding control over the country.

Prices jumped 13 percent last week with a rise in turmoil across North Africa and the Middle East. That pushed gas prices up 20 cents per gallon. As a result, Americans are now paying roughly $75 million more per day to fill their gas tanks than a week ago.

Federal Reserve Chairman Ben Bernanke told the Senate Banking Committee that a sustained increase in crude prices could pose a risk to the recovery. But he predicted only a temporary increase in inflation, not runaway prices. The Fed chief also said he expected the economy to grow this year, although not enough to lower the 9 percent unemployment rate.


*The NYSE DOW NYSE DOW closed LOWER -168.32 points -1.38%  on Tuesday February 28*
Sym .......Last .......Change.......... 
Dow 12,058.02 -168.32 -1.38% 
Nasdaq 2,737.41 -44.86 -1.61% 
&P 500 1,306.33 -20.89 -1.60%  
30-yr Bond 4.4900% 0.0000 

NYSE Volume 5,403,441,000  (prior day 4,672,227,500)
Nasdaq Volume 2,252,659,500  (prior day 2,058,004,000) 


*Europe*
Symbol... ......Last .....Change.......  
FTSE 100 5,936.34 -57.67 -0.96% 
DAX 7,205.16 -67.16 -0.92% 
CAC 40 4,068.59 -41.76 -1.02%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,920.40 -2.20 -0.04%  
Shanghai Comp 2,919.85 +14.80 +0.51% 
Taiwan We... 8,727.56 +127.91 +1.49% 
Nikkei 225 10,754.03 +129.94 +1.22% 
Hang Seng 23,396.42 +58.40 +0.25% 
Straits Times 3,067.60 +57.09 +1.90%   

http://finance.yahoo.com/news/Stocks-headed-higher-ahead-of-apf-3900581045.html?x=0

*Stocks slide as jump in oil prices renews worries

Stocks fall sharply with oil nearing $100; Bernanke says rising oil prices could hurt economy *

Matthew Craft and David K. Randall, AP Business Writers, On Tuesday March 1, 2011, 5:46 pm 

NEW YORK (AP) -- Stocks suffered steep losses as oil prices surged on Tuesday, renewing worries that higher fuel prices could hobble the economic recovery.

Oil rose $2.66 to settle at $99.63 a barrel amid unrest in Iran and Libya. Iran clamped down on anti-government protesters and forces loyal to Libya's leader Moammar Gadhafi launched counter-attacks against rebels expanding control over the country.

Prices jumped 13 percent last week with a rise in turmoil across North Africa and the Middle East. That pushed gas prices up 20 cents per gallon. As a result, Americans are now paying roughly $75 million more per day to fill their gas tanks than a week ago.

Federal Reserve Chairman Ben Bernanke told the Senate Banking Committee that a sustained increase in crude prices could pose a risk to the recovery. But he predicted only a temporary increase in inflation, not runaway prices. The Fed chief also said he expected the economy to grow this year, although not enough to lower the 9 percent unemployment rate.

The Commerce Department reported that builders began work on fewer homes, offices and commercial projects in January. The annual rate was near its decade low, set in August.

The Dow Jones industrial average lost 168.32 points, or 1.4 percent, to 12,058.02.

The Standard & Poor's 500 index fell 20.89, or 1.6 percent, to 1,306.33. The Nasdaq composite fell 44.86, or 1.6 percent, to 2,737.41.

Three stocks fell for every one that rose on the New York Stock Exchange. Consolidated trading volume came to 4.8 billion shares.

Fifth Third Bancorp dropped 4.5 percent after the regional bank said that the Securities and Exchange Commission was investigating its accounting and reporting of commercial loans.

Natural gas driller Range Resources Corp. lost 7 percent after the company's fourth-quarter revenue figures came in below analysts' expectations. Natural gas prices have been in a slump for the past year as a result of an oversupply in the market.

AutoZone Inc. rose 2 percent after the auto-parts retailer said its second-quarter income rose 20 percent as its revenue increased.

On Monday, stable oil prices and more signs of a stronger economy helped lift. All three major stock indexes ended February higher, marking their third straight month of gains. The S&P 500 index had its best start to any year since 1998.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks edged higher Wednesday after a surprisingly strong report on hiring by private companies raised hopes that the job market may be improving.

Traders remained concerned about the latest spike in oil prices as Libya's internal conflict deepened. Crude settled above $102 a barrel for the first time since Sept. 2008. Worries about the impact of high oil prices on the U.S. economy have rattled markets over the past week.

Payroll processor ADP said private employers added 217,000 jobs last month, well above the 180,000 analysts had predicted. That raised hopes that the government's employment report coming up Friday could show a decline in the unemployment rate, which is currently 9 percent.

The Federal Reserve also reported that the U.S. economy expanded broadly over the last two months. All 12 regions covered by the survey reported "modest to moderate" growth, including a pickup in retail sales.

The Dow Jones industrial average rose 8.78 points, or 0.1 percent, to close at 12,066.80.

*The NYSE DOW NYSE DOW closed HIGHER +8.78 points +0.07% on Wednesday March 2*
Sym .......Last .......Change.......... 
Dow 12,066.80 +8.78 +0.07% 
Nasdaq 2,748.07 +10.66 +0.39% 
S&P 500 1,308.44 +2.11 +0.2%  
30-yr Bond 4.5550% +0.0650  

NYSE Volume 4,732,584,500 (prior day  5,403,441,000)
Nasdaq Volume 1,990,634,875  (prior day 2,252,659,500)


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,914.89 -20.87 -0.35% 
DAX 7,181.12 -42.18 -0.58% 
CAC 40 4,034.32 -32.83 -0.81%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,898.30 -22.10 -0.45% 
Shanghai Comp 2,914.28 -4.65 -0.16% 
Taiwan We... 8,619.90 -107.66 -1.23% 
Nikkei 225 10,492.38 -261.65 -2.43% 
Hang Seng 23,048.66 -347.76 -1.49% 
Straits Times 3,027.51 -40.09 -1.31%  

http://finance.yahoo.com/news/Stocks-edge-higher-on-jobs-apf-2193301817.html?x=0

*Stocks edge higher on jobs news, Fed survey

Stocks inch higher; encouraging report on private sector hiring and Fed survey overshadow oil *

David K. Randall and Matthew Craft, AP Business Writers, On Wednesday March 2, 2011, 5:52 pm 

NEW YORK (AP) -- Stocks edged higher Wednesday after a surprisingly strong report on hiring by private companies raised hopes that the job market may be improving.

Traders remained concerned about the latest spike in oil prices as Libya's internal conflict deepened. Crude settled above $102 a barrel for the first time since Sept. 2008. Worries about the impact of high oil prices on the U.S. economy have rattled markets over the past week.

Payroll processor ADP said private employers added 217,000 jobs last month, well above the 180,000 analysts had predicted. That raised hopes that the government's employment report coming up Friday could show a decline in the unemployment rate, which is currently 9 percent.

The Federal Reserve also reported that the U.S. economy expanded broadly over the last two months. All 12 regions covered by the survey reported "modest to moderate" growth, including a pickup in retail sales.

The Dow Jones industrial average rose 8.78 points, or 0.1 percent, to close at 12,066.80.

The S&P 500 rose 2.11, or 0.2 percent, to 1,308.44. Both the Dow and the S&P 500 wavered between gains and losses throughout the day.

The Nasdaq composite gained 10.66 points, or 0.4 percent, to 2,748.07.

The escalating conflict in Libya resulted in a surge in crude oil prices over the last week and volatility in global financial markets. U.S. stocks fell sharply on Tuesday after Federal Reserve Chairman Ben Bernanke said that higher oil prices could threaten the pace of the economic recovery

"When you look at the stock market any given day it's hard to isolate cause and effect, but today we don't have that problem," said Lawrence Creatura, a portfolio manager at Federated Investors. "Investors will have one eye on oil prices for quite some time."

Retail companies reported mixed earnings reports before the market opened. Costco Wholesale Corp. fell 2.5 percent after reporting earnings that met expectations.

Apple Inc. rose almost 1 percent after the company's CEO, Steve Jobs, briefly emerged from a medical leave to introduce the second generation of its iPad tablet computer.

Rising stocks outnumbered falling ones two-to-one on the New York Stock Exchange. Consolidated trading volume was 4.2 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks rose sharply on Thursday after an unexpected drop in new applications for unemployment benefits and strong retail sales. The Dow Jones industrial average had its biggest gain since Dec. 1.

The Labor Department said first-time claims for unemployment benefits fell to 368,000. That's the lowest level since May 2008. Economists had expected the number of claims to rise.

Separately, the Institute for Supply Management said its measure of hiring by service companies rose to the highest level since April 2006. The index covers a broad range of industries including retail, health care and financial services.

The signs of job growth followed a report Wednesday from payroll processor ADP saying that private employers added far more jobs than analysts had expected last month. Those gains are raising hopes that Friday's jobs report from the Labor Department will show that the unemployment rate fell from its current level of 9 percent.


*The NYSE DOW NYSE DOW closed HIGHER +191.40 points +1.59% on Thursday March 3*
Sym .......Last .......Change..........  
Dow 12,258.20 +191.40 +1.59% 
Nasdaq 2,798.74 +50.67 +1.84% 
S&P 500 1,330.97 +22.53 +1.7%
30-yr Bond 4.6390% +0.0840 

NYSE Volume 5,040,792,500  (prior day 4,732,584,500)
Nasdaq Volume 2,016,832,375  (prior day 1,990,634,875)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,005.09 +90.20 +1.52% 
DAX 7,225.96 +44.84 +0.62% 
CAC 40 4,060.76 +26.44 +0.66% 


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,902.80 +4.50 +0.09%  
Shanghai Comp 2,903.83 -9.98 -0.34% 
Taiwan We... 8,738.37 +118.47 +1.37% 
Nikkei 225 10,586.02 +93.64 +0.89% 
Hang Seng 23,122.42 +73.76 +0.32% 
Straits Times 3,037.35 +9.84 +0.33% 

http://finance.yahoo.com/news/Stock...1.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks leap higher as hope builds for job recovery

Stock jump as claims for unemployment benefits fall unexpectedly; retailers report sales gains *

Matthew Craft and David K. Randall, AP Business Writers, On Thursday March 3, 2011, 6:04 pm 

NEW YORK (AP) -- Stocks rose sharply on Thursday after an unexpected drop in new applications for unemployment benefits and strong retail sales. The Dow Jones industrial average had its biggest gain since Dec. 1.

The Labor Department said first-time claims for unemployment benefits fell to 368,000. That's the lowest level since May 2008. Economists had expected the number of claims to rise.

Separately, the Institute for Supply Management said its measure of hiring by service companies rose to the highest level since April 2006. The index covers a broad range of industries including retail, health care and financial services.

The signs of job growth followed a report Wednesday from payroll processor ADP saying that private employers added far more jobs than analysts had expected last month. Those gains are raising hopes that Friday's jobs report from the Labor Department will show that the unemployment rate fell from its current level of 9 percent.

Retailers Limited Brands Inc., Macy's Inc. and Nordstrom Inc. all reported gains in February sales compared with the same month last year. Wendy's/Arby's Group Inc. trimmed its losses in the fourth-quarter and beat analysts' revenue estimates. The stock rose 7.6 percent.

The Dow Jones industrial average gained 191.40 points, or 1.6 percent, to 12,258.20. The Dow is still below where it was trading on Feb. 18, before a three-day plunge caused by a surge in oil prices as the unrest in Libya deepened.

The Standard & Poor's 500 index rose 22.53, or 1.7 percent, to 1,330.97.

All 10 company groups that make up the S&P index rose. Industrial companies had the largest gain, with 2.4 percent. Caterpillar Inc. gained 3 percent, the largest increase among the 30 stocks that make up the Dow average.

The Nasdaq composite index gained 50.67, or 1.8 percent, to 2,798.74.

The drop in unemployment claims pushed Treasury prices lower, raising their yields. The yield on the 10-year note rose to 3.56 percent, up from 3.48 percent late Wednesday.

Oil prices eased slightly, but remained above $100 a barrel. Concerns over the impact of high oil prices on the U.S. economy have rattled markets over the past two weeks. Crude settled above $102 on Wednesday for the first time since September 2008.

Five stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume was 4.5 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks dropped Friday after another spike in oil prices overshadowed a report that the unemployment rate fell to its lowest level in nearly two years.

Crude oil rose 2.5 percent to $104.42 a barrel, the highest level since September 2008, after fighting in Libya escalated. Markets have been rattled over the past two weeks as higher oil prices threaten to undermine the economic recovery by increasing transportation and production costs.

Higher energy prices sent stocks lower despite news that the U.S. job market is improving. The Labor Department reported that the unemployment rate dipped to 8.9 percent in February from 9 percent the previous month. The rate has dropped for three months in a row and is now at its lowest level since April 2009. Employers added 192,000 jobs in February, the fastest pace in almost a year.

The Dow Jones industrial average dropped 88.32 points, or 0.7 percent, to 12,169.88. The Dow had been down as many as 178 points earlier.

*The NYSE DOW NYSE DOW closed LOWER -88.32 points -0.72% on Friday March 4*
Sym .......Last .......Change.......... 
Dow 12,169.88 -88.32 -0.72% 
Nasdaq 2,784.67 -14.07 -0.50% 
S&P 500 1,321.15 -9.82 -0.74% 
30-yr Bond 4.6010% -0.0380 

NYSE Volume 4,980,571,000  (prior day 5,040,792,500)
Nasdaq Volume 1,945,122,000  (prior day 2,016,832,375) 


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,990.39 -14.70 -0.24% 
DAX 7,178.90 -47.06 -0.65% 
CAC 40 4,020.21 -40.55 -1.00%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,958.60 +55.80 +1.14% 
Shanghai Comp 2,942.17 +39.19 +1.35% 
Taiwan We... 8,784.40 +46.03 +0.53% 
Nikkei 225 10,693.66 +107.64 +1.02% 
Hang Seng 23,408.86 +286.44 +1.24% 
Straits Times 3,061.31 +23.96 +0.79%  

http://finance.yahoo.com/news/Surge...3.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Surge in oil prices sends stocks lower

Stocks drop on rising oil prices; Unemployment rate slips to 8.9 percent *

Matthew Craft and David K. Randall, AP Business Writers, On Friday March 4, 2011, 5:49 pm 

NEW YORK (AP) -- Stocks dropped Friday after another spike in oil prices overshadowed a report that the unemployment rate fell to its lowest level in nearly two years.

Crude oil rose 2.5 percent to $104.42 a barrel, the highest level since September 2008, after fighting in Libya escalated. Markets have been rattled over the past two weeks as higher oil prices threaten to undermine the economic recovery by increasing transportation and production costs.

Higher energy prices sent stocks lower despite news that the U.S. job market is improving. The Labor Department reported that the unemployment rate dipped to 8.9 percent in February from 9 percent the previous month. The rate has dropped for three months in a row and is now at its lowest level since April 2009. Employers added 192,000 jobs in February, the fastest pace in almost a year.

"They're tugging at each other, employment and oil," said Jack Ablin, chief investment officer of Harris Private Bank. "Oil is high enough that it has to be a concern. The longer it remains at this level the greater the chance that it upends our recovery."

The Dow Jones industrial average dropped 88.32 points, or 0.7 percent, to 12,169.88. The Dow had been down as many as 178 points earlier.

The Standard & Poor's 500 index fell 9.82, or 0.7 percent, to 1,321.15. The Nasdaq composite index fell 14.07, or 0.5 percent, to 2,784.67.

All 10 company groups that make up the S&P index fell. Financial companies fell 1.3 percent, the largest drop. Citigroup Inc. fell 3 percent and Goldman Sachs Group Inc. fell 2.1 percent after Bank of America analysts trimmed their earnings forecasts for the two banks. Analysts noted that they expect the turmoil in the Middle East will make institutional investors more cautious with their cash, leading to a drop in trading revenues.

Each index eked out small gains for the week after falling the week before. The Dow had the largest move, inching up 0.3 percent.

Wal-Mart Stores Inc., the world's largest retailer, raised its annual dividend 21 percent Friday. Its stock gained 0.1 percent to $52.07.

Bond prices rose, sending their yields lower. The yield on the 10-year Treasury note fell to 3.50 percent from 3.56 percent late Thursday.

Two stocks fell for every one that rose on the New York Stock Exchange. Consolidated volume came to 4.4 billion shares.

4118


----------



## bigdog

Source: http://finance.yahoo.com

Stocks fell Monday as higher oil prices weighed on the market.

Oil hit a two-year high early in the day, nearing $107 a barrel, after forces loyal to Libyan leader Moammar Gadhafi launched airstrikes against opposition fighters at an oil port. Benchmark West Texas Intermediate crude gained $1.02 to settle at $105.44 per barrel.

The market has been shaken in recent weeks by the uprising in Libya and its effect on oil prices. A sustained rise in the price of oil could hurt the economic recovery by raising manufacturing and transportation costs.

Rising crude prices have pushed U.S. gasoline prices higher. Pump prices have jumped an average of 39 cents per gallon since the Libyan uprising began in mid-February, forcing motorists to pay an additional $146 million per day for the same amount of fuel.

Stocks had started higher on news of two corporate deals. Hard drive maker Western Digital Corp. jumped 16 percent after announcing plans to buy Hitachi Global Storage Technologies for $4.3 billion. French fashion conglomerate LVMH Moet Hennessy Louis Vuitton says it will buy Italian jeweler Bulgari SpA for $6 billion.

*The NYSE DOW NYSE DOW closed LOWER -79.85 points -0.66% on Monday March 7*
Sym .......Last .......Change..........  
Dow 12,090.03 -79.85 -0.66% 
Nasdaq 2,745.63 -39.04 -1.40% 
S&P 500 1,310.13 -11.02 -0.83%  
30-yr Bond 4.6080% +0.0070 

NYSE Volume 4,595,023,000  (prior day 4,980,571,000) 
Nasdaq Volume 2,212,734,250  (prior day 1,945,122,000) 


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,973.78 -16.61 -0.28% 
DAX 7,161.93 -16.97 -0.24% 
CAC 40 3,990.41 -29.80 -0.74%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,895.90 -62.70 -1.26%  
Shanghai Comp 2,996.97 +54.67 +1.86% 
Taiwan We... 8,713.79 -70.61 -0.80% 
Nikkei 225 10,505.02 -188.64 -1.76% 
Hang Seng 23,313.19 -95.67 -0.41% 
Straits Times 3,066.52 +5.21 +0.17% 

http://finance.yahoo.com/news/Stocks-fall-as-oil-prices-apf-147143001.html?x=0

*Stocks fall as oil prices push higher

Stocks slump as oil jumps as high as $107 a barrel *

Francesca Levy and Matthew Craft, AP Business Writers, On Monday March 7, 2011, 4:57 pm 

NEW YORK (AP) -- Stocks fell Monday as higher oil prices weighed on the market.

Oil hit a two-year high early in the day, nearing $107 a barrel, after forces loyal to Libyan leader Moammar Gadhafi launched airstrikes against opposition fighters at an oil port. Benchmark West Texas Intermediate crude gained $1.02 to settle at $105.44 per barrel.

The market has been shaken in recent weeks by the uprising in Libya and its effect on oil prices. A sustained rise in the price of oil could hurt the economic recovery by raising manufacturing and transportation costs.

Rising crude prices have pushed U.S. gasoline prices higher. Pump prices have jumped an average of 39 cents per gallon since the Libyan uprising began in mid-February, forcing motorists to pay an additional $146 million per day for the same amount of fuel.

Stocks had started higher on news of two corporate deals. Hard drive maker Western Digital Corp. jumped 16 percent after announcing plans to buy Hitachi Global Storage Technologies for $4.3 billion. French fashion conglomerate LVMH Moet Hennessy Louis Vuitton says it will buy Italian jeweler Bulgari SpA for $6 billion.

Investors fear that oil prices could surge even higher if the unrest in the Middle East and North Africa spreads to major oil-producing countries like Saudi Arabia.

"The market is going to have to sort out what's fact and what's rumor," said Quincy Krosby, market strategist for Prudential Financial. "They are saying, `How high can the prices go, and more importantly for how long.'"

The Dow Jones industrial average fell 79.85 points, or 0.7 percent, to close at 12,090.03.

The Standard & Poor's 500 index fell 11.02 points, or 0.8 percent, to 1,310.13. The Nasdaq fell 39.04 points, or 1.4 percent, to 2,745.63

All three indexes have lost more than 1 percent so far this month.

The dollar rose, as did utility companies. The utility company index within the S&P 500 gained 0.4 percent even though the overall index declined. The CBOE Market Volatility Index jumped 8 percent to 20.66, a sign that investors expect stock trading to become more turbulent.

Starbucks rose 1.4 percent after CEO Howard Schultz told the Wall Street Journal the company is looking for companies to acquire. McDonald's Corp rose 0.3 percent, the biggest gain among the 30 companies that make up the Dow average. Alcoa Inc. fell the most, 2 percent.

More than three stocks rose for every one that fell on the New York Stock Exchange. Trading volume was 1 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

*ALL INDEXES ARE GREEN TODAY!!*

Financial companies pushed stock indexes higher Tuesday on signs that banks may soon raise their dividends.

Bank of America Corp. gained 4.7 percent, the most of the 30 stocks that make up the Dow Jones industrial average, after chief executive Brian Moynihan told an investor's meeting that the bank could earn more money over the next two years as its business stabilizes. That led analysts to note that large consumer banks may raise their dividends. Banks slashed dividends during the 2008 financial crisis to cut costs.

Financial stocks in the S&P 500 index rose 2.2 percent, the most of any of the index's 10 company groups. American Express Co. gained 3.5 percent, and JPMorgan Chase & Co. gained 2.6 percent.

Falling oil prices also helped stocks move higher. Oil prices dipped 0.5 percent to $105 a barrel after Kuwait's oil minister said that OPEC members are in informal talks about raising oil output as the conflict in Libya continues.

*The NYSE DOW NYSE DOW closed HIGHER +124.35 points +1.03% on Tuesday March 8*
Sym .......Last .......Change.......... 
Dow 12,214.38 +124.35 +1.03% 
Nasdaq 2,765.77 +20.14 +0.73% 
S&P 500 1,321.82 +11.69 +0.89% 
30-yr Bond 4.6580% +0.0500  

NYSE Volume 4,428,110,500  (prior day 4,595,023,000)
Nasdaq Volume 1,847,981,250  (prior day 2,212,734,250) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,974.76 +0.98 +0.02% 
DAX 7,164.75 +2.82 +0.04% 
CAC 40 4,015.91 +25.50 +0.64% 


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,902.50 +6.60 +0.13% 
Shanghai Comp 3,000.57 +4.36 +0.15% 
Taiwan We... 8,747.75 +33.96 +0.39% 
Nikkei 225 10,525.19 +20.17 +0.19% 
Hang Seng 23,711.70 +398.51 +1.71% 
Straits Times 3,103.84 +37.32 +1.22%  




http://finance.yahoo.com/news/Bank-stocks-push-indexes-apf-938017381.html?x=0

*Bank stocks push indexes higher; oil prices dip

Bank stocks lead market higher as hopes grow that dividends will be restored; oil prices ease *

Chip Cutter and David K. Randall, AP Business Writers, On Tuesday March 8, 2011, 4:38 pm 

NEW YORK (AP) -- Financial companies pushed stock indexes higher Tuesday on signs that banks may soon raise their dividends.

Bank of America Corp. gained 4.7 percent, the most of the 30 stocks that make up the Dow Jones industrial average, after chief executive Brian Moynihan told an investor's meeting that the bank could earn more money over the next two years as its business stabilizes. That led analysts to note that large consumer banks may raise their dividends. Banks slashed dividends during the 2008 financial crisis to cut costs.

Financial stocks in the S&P 500 index rose 2.2 percent, the most of any of the index's 10 company groups. American Express Co. gained 3.5 percent, and JPMorgan Chase & Co. gained 2.6 percent.

Falling oil prices also helped stocks move higher. Oil prices dipped 0.5 percent to $105 a barrel after Kuwait's oil minister said that OPEC members are in informal talks about raising oil output as the conflict in Libya continues.

"Rapidly higher moving oil prices can substantially impact demand," said Oliver Pursche, president of Gary Goldberg Financial Services. It's something OPEC members are "very, very much aware of and want to avoid."

Oil prices have risen 9 percent so far this month. That has pushed stocks lower as investors worry that higher gas prices will dampen the economic recovery.

The Dow Jones industrial average gained 124.35 points, or 1 percent, to 12,214.38. The S&P 500 rose 11.69, or 0.9 percent, to 1,321.82.

Energy companies were the only group in the S&P index to fall, losing 0.6 percent.

The Nasdaq composite rose 20.14, or 0.7 percent, to 2,765.77.

Bond prices fell, pushing yields higher. The yield on the 10-year Treasury note rose to 3.54 percent from 3.51 percent late Monday.

Brown-Forman Corp. rose 4.7 percent after the liquor company said its net income rose 30 percent in the latest quarter thanks to growing international sales and a strong performance by its flagship Jack Daniel's brand.

Urban Outfitters Inc. fell 16.7 percent after the retailer's earnings missed Wall Street's expectations due to higher expenses.

Netflix fell 5.8 percent after Facebook announced that it will allow members to stream movies through its pages, a direct competition to Netflix's popular on-demand offering.

Three stocks rose for every one that fell on the New York Stock Exchange. Volume came to 1 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

The two-year anniversary of the fastest bull market since the 1950s ended on a down note.

Stocks dipped Wednesday as crude oil prices hovered near $104 a barrel, continuing a three-week run of high prices that economists say could slow the economic recovery.

Stocks hit 12-year lows on March 9, 2009, dragged down by the financial crisis. The S&P 500 index, the benchmark for most U.S. mutual funds, has had a total return of 102 percent since then, including dividends. It was the best two-year period for the index since 1955, according to Standard & Poor's.

The S&P index lost 1.80 points, or 0.1 percent, to close at 1,320.02. The Dow Jones industrial average dipped 1.29, or less than 0.1 percent, to 12,213.09. The Nasdaq composite fell 14.05, or 0.5 percent, to 2,751.72.

The conflict in Libya has raised concerns about a drop in oil production, causing a surge in crude prices. Oil prices have jumped about $20 per barrel since mid-February, when the Libyan uprising started.

*The NYSE DOW NYSE DOW closed LOWER -1.29 points -0.01%  on Wednesday March 9*
Sym .......Last .......Change.......... 
Dow 12,213.09 -1.29 -0.01% 
Nasdaq 2,751.72 -14.05 -0.51% 
S&P 500 1,320.02 -1.80 -0.14% 
30-yr Bond 4.5990% -0.0590 

NYSE Volume 4,169,241,500  (prior day 4,428,110,500)
Nasdaq Volume 2,011,030,625  (prior day 1,847,981,250)


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,937.30 -37.46 -0.63% 
DAX 7,131.80 -32.95 -0.46% 
CAC 40 3,993.81 -22.10 -0.55%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,863.20 -39.30 -0.80%  
Shanghai Comp 3,003.17 +3.23 +0.11% 
Taiwan We... 8,750.02 +2.27 +0.03% 
Nikkei 225 10,589.50 +64.31 +0.61% 
Hang Seng 23,810.11 +98.41 +0.42%  
Straits Times 3,092.90 -10.94 -0.35% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks edge lower as bull market enters 3rd year

Stocks finish slightly lower as oil prices remain near $104 a barrel *

Matthew Craft and David K. Randall, AP Business Writers, On Wednesday March 9, 2011, 5:32 pm 

NEW YORK (AP) -- The two-year anniversary of the fastest bull market since the 1950s ended on a down note.

Stocks dipped Wednesday as crude oil prices hovered near $104 a barrel, continuing a three-week run of high prices that economists say could slow the economic recovery.

Stocks hit 12-year lows on March 9, 2009, dragged down by the financial crisis. The S&P 500 index, the benchmark for most U.S. mutual funds, has had a total return of 102 percent since then, including dividends. It was the best two-year period for the index since 1955, according to Standard & Poor's.

The S&P index lost 1.80 points, or 0.1 percent, to close at 1,320.02. The Dow Jones industrial average dipped 1.29, or less than 0.1 percent, to 12,213.09. The Nasdaq composite fell 14.05, or 0.5 percent, to 2,751.72.

The conflict in Libya has raised concerns about a drop in oil production, causing a surge in crude prices. Oil prices have jumped about $20 per barrel since mid-February, when the Libyan uprising started.

Libya accounts for only 2 percent of global oil output. But the worry is that uprisings that have toppled governments in Tunisia and Egypt will spread to larger oil producing countries like Saudi Arabia, the world's largest crude exporter.

IBM Corp. gained 2.2 percent after analysts at Deutsche Bank and other brokerages raised their forecasts for the company's stock price.

Bon-Ton Stores Inc. jumped 10.5 percent. The department store chain said its profit climbed six percent as sales open at least a year improved.

Texas Instruments Inc. dropped 3.1 percent. After the market closed Tuesday, the company narrowed its sales and profit estimates for the current quarter. Demand for chips for televisions and personal computers remained weak.

Declining stocks narrowly outpaced rising ones on the New York Stock Exchange. Consolidated volume was 3.7 billion.


----------



## bigdog

Source: http://finance.yahoo.com

*ALL INDEXES ARE RED TODAY!!*

Weak economic news from China, the U.S. and Spain combined with a slump in oil companies sent stocks sharply lower Thursday. The Dow Jones industrial average had its biggest one-day drop since August.

Investors were jarred when China reported a surprise trade deficit. China's exports fell in February as businesses closed for the weeklong Lunar New Year holiday, but imports of higher-priced oil and other goods jumped, widening the country's deficit to $7.3 billion.

Moody's downgraded Spain's debt, re-igniting fears about Europe's debt crisis. In the U.S., the government reported that new applications for unemployment benefits rose more than expected last week.

The Dow Jones industrial average fell 228.48 points, or 1.9 percent, to close at 11,984.61. McDonald's Corp. was the only stock in the Dow 30 that rose.

The Standard & Poor's 500 index fell 24.91, or 1.9 percent, to 1,295.11. The Dow and S&P 500 are still up 3 percent since the start of the year.

The Nasdaq composite fell 50.70, or 1.8 percent, to 2,701.02.

Thursday's drop in the Dow was the biggest since Aug. 11. The S&P had a larger fall recently, dropping 27.57 points on Feb. 22 as the uprising against Libyan leader Moammar Gadhafi gained strength.

*The NYSE DOW NYSE DOW closed LOWER -228.48 points -1.87% on Thursday March 10*
Sym .......Last .......Change.......... 
Dow 11,984.61 -228.48 -1.87% 
Nasdaq 2,701.02 -50.70 -1.84% 
S&P 500 1,295.11 -24.91 -1.89% 
30-yr Bond 4.5360% -0.0640 


NYSE Volume 5,320,332,000  (prior day 4,169,241,500)
Nasdaq Volume 2,346,515,000   (prior day 2,011,030,625)


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,845.29 -92.01 -1.55% 
DAX 7,063.09 -68.71 -0.96% 
CAC 40 3,963.99 -29.82 -0.75% 


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,791.30 -71.90 -1.48% 
Shanghai Comp 2,958.16 -43.99 -1.47% 
Taiwan We... 8,642.90 -107.12 -1.22% 
Nikkei 225 10,434.38 -155.12 -1.46% 
Hang Seng 23,614.89 -195.22 -0.82% 
Straits Times 3,075.44 -17.46 -0.56%  

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

Francesca Levy and Matthew Craft, AP Business Writers, On Thursday March 10, 2011, 4:52 pm 

NEW YORK (AP) -- Weak economic news from China, the U.S. and Spain combined with a slump in oil companies sent stocks sharply lower Thursday. The Dow Jones industrial average had its biggest one-day drop since August.

Investors were jarred when China reported a surprise trade deficit. China's exports fell in February as businesses closed for the weeklong Lunar New Year holiday, but imports of higher-priced oil and other goods jumped, widening the country's deficit to $7.3 billion.

Moody's downgraded Spain's debt, re-igniting fears about Europe's debt crisis. In the U.S., the government reported that new applications for unemployment benefits rose more than expected last week.

The Dow Jones industrial average fell 228.48 points, or 1.9 percent, to close at 11,984.61. McDonald's Corp. was the only stock in the Dow 30 that rose.

The Standard & Poor's 500 index fell 24.91, or 1.9 percent, to 1,295.11. The Dow and S&P 500 are still up 3 percent since the start of the year.

The Nasdaq composite fell 50.70, or 1.8 percent, to 2,701.02.

Thursday's drop in the Dow was the biggest since Aug. 11. The S&P had a larger fall recently, dropping 27.57 points on Feb. 22 as the uprising against Libyan leader Moammar Gadhafi gained strength.

News that forces loyal to Gadhafi were poised to recapture the strategic oil port of Ras Lanouf from opposition forces sent oil down in the morning. Crude bounced higher later in the day after Saudi Arabian police fired at protesters. Crude oil lost $1.68 to settle at $102.70 per barrel, below the high of nearly $107 a barrel it reached on Monday.

Stocks fell broadly, but energy companies were hit the hardest. Exxon Mobil Corp., the largest company in the world by market value, fell 3.6 percent. Chevron Corp. also fell 3 percent. Energy companies fell 3.6 percent, the most of any industry tracked by S&P.

Oil has been surging over the past few weeks because of the spreading protests in North Africa the Middle East. Libya produces less than 2 percent of the world's oil supply, investors have been worried that unrest will spread to major oil-producing countries like Saudi Arabia and disrupt the flow of crude.

Only a handful of S&P 500 companies rose. Starbucks Corp. rose 10 percent after cementing a deal with Green Mountain Coffee Roasters Inc. to sell drinks in machines made by Keurig. Netflix Inc. rose 3.6 percent.

Apart from several sharp swings in the last month, stocks have been rising nearly continuously since last August, when the Federal Reserve said it would take steps to stimulate the economy. Wednesday marked two years since stocks bottomed out at 12-year lows.

Quincy Krosby, chief market strategist at Prudential, said the market was shaken by the combination of unexpectedly weak economic news from China, the downgrade of Spain's debt and concerns that protests planned for Friday in Saudi Arabia could bring instability to the world's largest exporter of oil.

"The tone of the market has clearly changed," Krosby said. "The market trend had been to buy rather than sell and that bad news doesn't matter. The momentum is slowing."

The government reported before the market opened that new applications for unemployment benefits rose more than expected last week and the trade deficit jumped in January. New unemployment claims rose by 26,000, far more than the 12,000 analyst had expected. Applications fell to nearly a three-year low the previous week.

Investors moved money into relatively stable investments as stock prices fell. Treasury prices rose, sending the yield on the 10-year note down to 3.36 percent from 3.47 percent late Wednesday. An index measuring the dollar against other currencies rose 0.7 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks finished a down week with modest gains Friday as investors gauged the fallout from a massive earthquake that struck off the coast of Japan and triggered tsunami waves from Asia to California.

The prospect of falling oil demand from Japan sent crude oil prices down to $101 a barrel. Industrial and materials companies rose on expectations that they will benefit from Japan's rebuilding efforts.

One day after its biggest fall since August, the Dow Jones industrial average gained 59.79 points, or 0.5 percent, to 12,044.40. The S&P 500 rose 9.17, or 0.7 percent, to 1,304.28. The Nasdaq composite gained 14.59, or 0.5 percent, to 2,715.61.

In addition to the earthquake, oil prices fell after a scheduled day of protests in Saudi Arabia only drew a few hundred people, and the capital remained quiet. Oil traders have been worried the violence in the Middle East and North Africa would spread to the world's No. 1 oil exporter.

"The market is going to be see-sawing back and forth" until the long-term effects of the unrest in the Middle East and the disaster in Japan become clear, said Anthony Chan, chief economist for J.P. Morgan Wealth Management.

*The NYSE DOW NYSE DOW closed HIGHER +59.79 points +0.50% on Friday March 11*
Sym .......Last .......Change.......... 
Dow 12,044.40 +59.79 +0.50% 
Nasdaq 2,715.61 +14.59 +0.54% 
S&P 500 1,304.28 +9.17 +0.71% 
30-yr Bond 4.5410% +0.0050  

NYSE Volume 4,294,229,000  (prior day 5,320,332,000)
Nasdaq Volume 1,879,066,625  (prior day 2,346,515,000)

*Europe*
Symbol... ......Last .....Change.......  
FTSE 100 5,828.67 -16.62 -0.28% 
DAX 6,981.49 -81.60 -1.16% 
CAC 40 3,928.68 -35.31 -0.89%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,734.80 -56.50 -1.18%
Shanghai Comp 2,935.61 -21.54 -0.73 
Taiwan We... 8,567.82 -75.08 -0.87% 
Nikkei 225 10,254.43 -179.95 -1.72% 
Hang Seng 23,249.78 -365.11 -1.55% 
Straits Times 3,043.49 -31.95 -1.04%  

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks inch higher day after Japan earthquake

Stocks finish with modest gains as traders gauge impact of Japan quake; oil prices dip *

Francesca Levy and David K. Randall, AP Business Writers, On Friday March 11, 2011, 5:40 pm EST 

NEW YORK (AP) -- Stocks finished a down week with modest gains Friday as investors gauged the fallout from a massive earthquake that struck off the coast of Japan and triggered tsunami waves from Asia to California.

The prospect of falling oil demand from Japan sent crude oil prices down to $101 a barrel. Industrial and materials companies rose on expectations that they will benefit from Japan's rebuilding efforts.

One day after its biggest fall since August, the Dow Jones industrial average gained 59.79 points, or 0.5 percent, to 12,044.40. The S&P 500 rose 9.17, or 0.7 percent, to 1,304.28. The Nasdaq composite gained 14.59, or 0.5 percent, to 2,715.61.

In addition to the earthquake, oil prices fell after a scheduled day of protests in Saudi Arabia only drew a few hundred people, and the capital remained quiet. Oil traders have been worried the violence in the Middle East and North Africa would spread to the world's No. 1 oil exporter.

"The market is going to be see-sawing back and forth" until the long-term effects of the unrest in the Middle East and the disaster in Japan become clear, said Anthony Chan, chief economist for J.P. Morgan Wealth Management.

The earthquake and oil protests largely overshadowed a report from the Commerce Department that retail sales rose 1 percent in February, the biggest gain in four months and more than the 0.8 percent analysts had expected. Shoppers laid out more cash for cars, clothing and gadgets in February, leading to an eighth month of gains.

Despite Fridays' gains, each index finished the week lower. The Dow fell 1 percent, while the broader S&P index lost 1.3 percent.

Stocks fell sharply Thursday on weak economic news from China, the U.S. and Spain combined with a slump in oil company shares. The Dow Jones industrial average had its biggest drop since August 11. Other than several large swings in the past month, stocks have been climbing steadily since September.

"It could be time for a well-deserved rest," said Ryan Detrick, senior technical strategist for Schaeffer's Investment Research. "The markets had a spectacular six-month rally and now they're showing some slight cracks."

The quake caused a sell-off in global stock markets, led by sharp drops in insurance companies. Japan's Nikkei closed down 1.7 percent. The yen remained stable, however, because it is seen as a relatively safe investment for international traders.

The yield on the 10-year U.S. treasury note rose to 3.41 percent from 3.37 percent late Thursday.

Two stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 3.8 million shares.

4703


----------



## bigdog

*Benched by Bigppond yesterday.

BIGPOND is blocking access to:   aussiestockforums.com for the past 24+ hours*

Source: http://finance.yahoo.com

Fears over the escalating nuclear crisis in Japan overtook financial markets around the globe Tuesday, pushing stocks and other investments lower. The Japanese stock market lost 10 percent of its value, and Wall Street dropped steeply before bouncing back.

The Japanese Nikkei average fell to its lowest level in nearly two years after the country's prime minister said four crippled reactors at a nuclear power plant on the country's devastated coast were leaking dangerous amounts of radiation.

In the U.S., the Dow Jones industrial average fell almost 300 points at the opening bell. The futures market, which can indicate how stocks will perform, looked so ugly before trading began that the New York Stock Exchange invoked a special rule to smooth volatility.

The Dow recovered somewhat later in the day but still closed down 138 points, or more than 1 percent.

*The NYSE DOW NYSE DOW closed LOWER  -137.74 points -1.15%  on Tuesday March 15*
Sym .......Last .......Change.......... 
Dow 11,855.42 -137.74 -1.15% 
Nasdaq 2,667.33 -33.64 -1.25% 
S&P 500 1,281.87 -14.52 -1.12% 
30-yr Bond 4.4680% -0.0530 

NYSE Volume 6,082,449,500  (prior day 4,667,518,500) 
Nasdaq Volume 2,392,757,250  (prior day 1,824,454,750)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,695.28 -79.96 -1.38% 
DAX 6,647.66 -218.97 -3.19% 
CAC 40 3,780.85 -97.19 -2.51% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,609.90 -100.20 -2.13% 
Shanghai Comp 2,897.06 -40.57 -1.38% 
Taiwan We... 8,234.78 -285.24 -3.35% 
Nikkei 225 8,605.15 -1,015.34 -10.55% 
Hang Seng 22,678.25 -667.63 -2.86% 
Straits Times 2,951.07 -79.79 -2.63%  

http://finance.yahoo.com/news/Japan...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Japan crisis puts world financial markets on edge

Japanese nuclear crisis pushes stocks down across the globe as investors flock to safety *

On Tuesday March 15, 2011, 4:53 pm EDT 
NEW YORK (AP) -- Fears over the escalating nuclear crisis in Japan overtook financial markets around the globe Tuesday, pushing stocks and other investments lower. The Japanese stock market lost 10 percent of its value, and Wall Street dropped steeply before bouncing back.

The Japanese Nikkei average fell to its lowest level in nearly two years after the country's prime minister said four crippled reactors at a nuclear power plant on the country's devastated coast were leaking dangerous amounts of radiation.

In the U.S., the Dow Jones industrial average fell almost 300 points at the opening bell. The futures market, which can indicate how stocks will perform, looked so ugly before trading began that the New York Stock Exchange invoked a special rule to smooth volatility.

The Dow recovered somewhat later in the day but still closed down 138 points, or more than 1 percent.

"It's a situation where you sell first and ask questions later," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners.

Investors sold stocks primarily because of fear that the disaster in Japan would slow down the global economy. Japan is the world's third-largest economy, manufacturing goods from computer chips to automobiles, and buys 10 percent of U.S. exports.

The jarring day came less than a week after the two-year anniversary of the low point for the markets after the 2008 financial crisis. Stocks have almost doubled in value since March 9, 2009.

Over the last five trading days, however, the Standard & Poor's 500 index has nearly lost 3 percent because of higher oil prices, signs of weaknesses in China's economy, and the still unknown impact of the quake and tsunami in Japan.

"Markets are going to remain on edge until we know the full extent of the situation in Japan," said Michael Ryan, chief investment strategist with UBS Wealth Management.

The Japanese markets have taken a huge hit since the quake and tsunami struck last week. The Nikkei average fell a staggering 10.6 percent Tuesday, more than 1,000 points, and has suffered its worst two-day loss in 40 years.

In addition to Japan, investors on Wall Street fretted about the Middle East, where Saudi Arabian troops moved into Bahrain and Libya's oil exports ground to a halt because of the rebellion against leader Moammar Gadhafi. Government bonds and other assets considered safer investments rose in price.

Stocks pared earlier losses after the Federal Reserve said that the U.S. economy was on "firmer footing." Still, 29 out of the 30 stocks that make up the Dow industrial average closed lower for the day.

Intel Corp., and Cisco Systems Inc. had the steepest falls, in part because they depend on Japanese factories for products or parts. Insurer Aflac Inc., which does 75 percent of its business in Japan, fell nearly 6 percent, the biggest drop in the S&P 500.

The Dow Jones industrial average closed down 137.74 points, or 1.1 percent, at 11,855.42. The S&P fell 14.52 points to 1,281.87. All 10 types of companies that make up the index finished lower. Utilities had the largest fall, losing 1.9 percent, because of concerns that the disaster in Japan will make countries rethink plans for nuclear energy. First Solar, a company that makes solar panels, gained 8.1 percent to lead the S&P index.

The Fed's statement pushed government bond prices down from their highest levels of the year. Bonds typically rise when investors seek safer assets and fall when the economy is growing.

In response to questions from the Senate Banking Committee on Tuesday, Treasury Secretary Timothy Geithner dismissed worries that Japan, which holds the most American government debt after China, would sell its holdings to pay for its rebuilding efforts.

"Japan is a very rich country and has a high savings rate," he said. It "has the capacity to deal not just with the humanitarian challenge but also the reconstruction challenge they face ahead."

If Japan dumped its holdings, it could force Treasury prices down and yields up. That would force long-term interest rates higher and put the U.S. economic recovery at risk.

The opposite happened after an earthquake devastated Kobe, Japan, in 1995, according to a report from economists at the Royal Bank of Canada. By 1997, Japan had actually doubled its Treasury holdings to $300 billion.

The yield on the benchmark 10-year Treasury note fell to 3.32 percent from 3.36 late Monday.

Oil prices fell $4 to $97.18 a barrel, their lowest level in two weeks, because demand for energy is expected to fall in Japan, the world's third-largest importer of oil. Questions over how long it will take the Japanese economy to recover pushed commodity prices lower around the globe. Wheat, corn, and sugar contracts all fell by 5 percent or more.


----------



## bigdog

Source: http://finance.yahoo.com

Financial markets were jolted for a third day Wednesday by fears that a partial meltdown may have occurred at a nuclear plant in Japan. Stocks fell heavily and erased nearly all of their gains for the year.

Stocks opened lower then dropped sharply in midmorning trading after the European Union's energy chief was quoted as saying that Japan's nuclear crisis could get worse. Japan's economy, the third-largest in the world after the U.S. and China, accounts for about 10 percent of U.S. exports.

Japan temporarily suspended work at a stricken nuclear plant after a surge in radiation made it too dangerous for workers to remain there. That came a day after Japan's prime minister said four crippled reactors at a nuclear power plant were leaking dangerous amounts of radiation.

Treasury prices jumped, sending yields to their lowest levels this year as investors piled into investments seen as being more stable. One measure of market volatility jumped 18 percent, a sign that investors expect more wild swings in stock prices.


*The NYSE DOW NYSE DOW closed LOWER -242.12 points -2.04% on Wednesday March 16*
Sym .......Last .......Change.......... 
Dow 11,613.30 -242.12 -2.04% 
Nasdaq 2,616.82 -50.51 -1.89% 
S&P 500 1,256.88 -24.99 -1.95% 
30-yr Bond 4.3880% -0.0800 

NYSE Volume 6,570,007,500  (prior day 6,082,449,500)
Nasdaq Volume 2,596,012,750  (prior day 2,392,757,250)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,598.23 -97.05 -1.70% 
DAX 6,513.84 -133.82 -2.01% 
CAC 40 3,696.56 -84.29 -2.23% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,644.00 +34.10 +0.74% 
Shanghai Comp 2,931.10 +34.85 +1.20% 
Taiwan We... 8,324.58 +89.80 +1.09% 
Nikkei 225 9,093.72 +488.57 +5.68% 
Hang Seng 22,700.88 +22.63 +0.10% 
Straits Times 2,971.00 +24.92 +0.85% 

http://finance.yahoo.com/news/Worsening-nuclear-crisis-apf-400288027.html?x=0

*Worsening nuclear crisis rattles financial markets

Stocks sink, nearly giving up their gains for the year, as Japan's nuclear crisis deepens *

On Wednesday March 16, 2011, 5:13 pm 
NEW YORK (AP) -- Financial markets were jolted for a third day Wednesday by fears that a partial meltdown may have occurred at a nuclear plant in Japan. Stocks fell heavily and erased nearly all of their gains for the year.

Stocks opened lower then dropped sharply in midmorning trading after the European Union's energy chief was quoted as saying that Japan's nuclear crisis could get worse. Japan's economy, the third-largest in the world after the U.S. and China, accounts for about 10 percent of U.S. exports.

Japan temporarily suspended work at a stricken nuclear plant after a surge in radiation made it too dangerous for workers to remain there. That came a day after Japan's prime minister said four crippled reactors at a nuclear power plant were leaking dangerous amounts of radiation.

Treasury prices jumped, sending yields to their lowest levels this year as investors piled into investments seen as being more stable. One measure of market volatility jumped 18 percent, a sign that investors expect more wild swings in stock prices.

"Right now, investors are moving away from anything that has an element of risk with it because they don't know what's happening in Japan," said Bill Stone, chief investment strategist at PNC Wealth Management.

The losses in stocks were broad. Each of the 30 stocks that make up the Dow Jones industrial average fell, with IBM Corp. and General Electric Co. losing the most. All 10 company groups in the Standard & Poor's 500 index, the basis for most U.S. mutual funds, lost ground.

The Dow Jones industrial average fell 242.12, or 2 percent, to 11,613.30. It was the worst drop since Aug. 11. The Dow has now lost 3.6 percent over the past three days, its worst three-day loss since last July.

The S&P index fell 24.99, or 1.9 percent, to 1,256.88. The S&P is now down 0.1 percent for the year, having been up as much as 6.8 percent in February. When dividends are included, however, the index has had a total return of 2.4 percent for the year, according to FactSet.

The Nasdaq composite index fell 50.51 or 1.9 percent, to 2,610. It is now down 1.4 percent for the year.

The yield on the 10-year Treasury note fell as low as 3.15 percent, the lowest level this year. In late trading the yield edged up to 3.21 percent.

In the U.S., homebuilders tumbled after the Commerce Department reported that new home construction fell to the second-lowest level on record in February, reflecting weak demand. Homebuilders Lennar Corp. and D.R. Horton Inc. each fell more than 2 percent.

Wholesale prices rose last month by the most in nearly two years due to higher energy costs and the biggest increase in food prices in 36 years. Shares of companies affected by higher food costs fell.


----------



## bigdog

Source: http://finance.yahoo.com

Signs that the U.S. economy is improving helped investors put aside fears over Japan's nuclear crisis Thursday, if only temporarily. It was the first gain in the market after three days of losses.

Stocks rose broadly. All of the 10 groups rose in the Standard & Poor's 500 index, the basis for most U.S. mutual funds. Twenty-six of the 30 stocks that make up the Dow Jones industrial average rose, led by a 3.2 percent increase in Hewlett-Packard Co. All 30 fell the day before.

The Standard & Poor's 500 rose 16.84, or 1.3 percent, to 1,273.72. With Thursday's gains, the Dow and S&P 500 are up more than 1 percent for the year.

The Dow gained 161.29 points, or 1.4 percent, to 11,774.59. The index fell 242 points Wednesday, its largest drop since August.

*The NYSE DOW NYSE DOW closed HIGHER +161.29 points +1.39%  on Thursday March 17*
Sym .......Last .......Change.......... 
Dow 11,774.59 +161.29 +1.39% 
Nasdaq 2,636.05 +19.23 +0.73% 
S&P 500 1,273.72 +16.84 +1.34% 
30-yr Bond 4.4260% +0.0380 

NYSE Volume 4,788,032,000  (prior day 6,570,007,500)
Nasdaq Volume 2,012,138,375  (prior day 2,596,012,750)


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,696.11 +97.88 +1.75% 
DAX 6,656.88 +143.04 +2.20% 
CAC 40 3,786.21 +89.65 +2.43%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,638.40 -5.60 -0.12% 
Shanghai Comp 2,897.30 -33.51 -1.14% 
Taiwan We... 8,282.69 -41.89 -0.50% 
Nikkei 225 8,962.67 -131.05 -1.44% 
Hang Seng 22,284.43 -416.45 -1.83% 
Straits Times 2,950.37 -20.63 -0.69%  

http://finance.yahoo.com/news/Stron...5.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stronger economic reports help stocks rebound

Stocks rebound from a steep fall on strong manufacturing report, drop in unemployment claims *

On Thursday March 17, 2011, 5:51 pm 
NEW YORK (AP) -- Signs that the U.S. economy is improving helped investors put aside fears over Japan's nuclear crisis Thursday, if only temporarily. It was the first gain in the market after three days of losses.

Stocks rose broadly. All of the 10 groups rose in the Standard & Poor's 500 index, the basis for most U.S. mutual funds. Twenty-six of the 30 stocks that make up the Dow Jones industrial average rose, led by a 3.2 percent increase in Hewlett-Packard Co. All 30 fell the day before.

The Standard & Poor's 500 rose 16.84, or 1.3 percent, to 1,273.72. With Thursday's gains, the Dow and S&P 500 are up more than 1 percent for the year.

The Dow gained 161.29 points, or 1.4 percent, to 11,774.59. The index fell 242 points Wednesday, its largest drop since August.

A gauge of manufacturing in the mid-Atlantic region jumped in February to the highest point since January 1984. The survey from the Federal Reserve's Philadelphia branch showed new orders soared. Production at U.S. factories, mines and utilities dipped last month but was actually higher in previous months than first estimated, according to the Federal Reserve.

The Labor Department reported that the number of people applying for unemployment benefits fell more than economists expected last week. Ongoing claims dropped to the lowest level since October 2008.

"It's a reminder that the U.S. economy continues to gain momentum," said Alan Gayle, senior investment strategist at RidgeWorth Investments in Richmond, Va. "Economic growth leads to more spending, more production and ultimately rising profits," he said. "And at the end of the day, that's what investors buy: rising profits."

FedEx Corp. rose 3 percent. The world's second-largest delivery company said revenue rose 11 percent in the most recent quarter, mostly due to higher shipping rates. FedEx said those higher rates may help it beat earnings forecasts in the future. United Parcel Service Inc., FedEx's rival, rose 1.7 percent.

The dollar dropped to an all-time low against the Japanese yen late Wednesday, reaching 76.53 yen to the dollar. By Thursday afternoon, the yen had weakened and was trading at 78.97 yen to the dollar. When the yen loses strength, it takes more yen to buy one dollar.

A stronger yen would hurt Japan's exporters, potentially dealing another problem to an economy already wracked by an earthquake, tsunami and evolving nuclear crisis.

Bond prices fell for the first time in three days, pushing their yields higher, as investors put money back into riskier assets like stocks. The yield on the 10-year Treasury note rose to 3.26 percent from 3.20 percent.

A separate report from the Labor Department showed consumer prices edged higher in February. The Consumer Price Index rose 0.5 percent last month, slightly stronger than forecasts. Core prices, which exclude food and fuel costs, edged up 0.2 percent, the same as the previous month.

The Nasdaq rose 19.23, or 0.7 percent, to 2,636.05. The technology-heavy index is down 0.6 percent for the year.

Three stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 4.1 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks ended a rough week with slight gains Friday after Libyan government forces declared a cease-fire and a group of the world's seven largest countries announced a plan to bring the yen down from historic highs.

Financial stocks rose after JPMorgan and other large banks increased their dividends. JP Morgan said it was increasing its dividend to 25 cents a share from 5 cents. Wells Fargo and U.S. Bancorp also raised their dividends.

Japan's currency has soared since an earthquake struck the country a week ago and caused devastating tsunami waves and damage to several nuclear plants. A stronger yen makes it more difficult for Japan's export-driven economy to recover by making Japanese goods more expensive overseas.

*The NYSE DOW NYSE DOW closed HIGHER +83.93 points +0.71% on Friday March 18*
Sym .......Last .......Change.......... 
Dow 11,858.52 +83.93 +0.71% 
Nasdaq 2,643.67 +7.62 +0.29% 
S&P 500 1,279.20 +5.48 +0.43% 
30-yr Bond 4.4290% +0.0030 

NYSE Volume 5,937,417,000  (prior day 4,788,032,000)
Nasdaq Volume 2,709,445,500  (prior day 2,012,138,375) 


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,718.13 +22.02 +0.39% 
DAX 6,664.40 +7.52 +0.11% 
CAC 40 3,810.22 +24.01 +0.63%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,715.80 +77.40 +1.67% 
Shanghai Comp 2,909.40 +12.10 +0.42% 
Taiwan We... 8,394.75 +112.06 +1.35% 
Nikkei 225 9,206.75 +244.08 +2.72% 
Hang Seng 22,300.23 +15.80 +0.07%  
Straits Times 2,935.78 -7.10 -0.24% 

http://finance.yahoo.com/news/Yen-p...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Yen plan, bank dividends pull stocks higher

Stocks rise broadly on plan to bring yen down from historic highs; major banks raise dividends *

On Friday March 18, 2011, 5:35 pm EDT 
NEW YORK (AP) -- Stocks ended a rough week with slight gains Friday after Libyan government forces declared a cease-fire and a group of the world's seven largest countries announced a plan to bring the yen down from historic highs.

Financial stocks rose after JPMorgan and other large banks increased their dividends. JP Morgan said it was increasing its dividend to 25 cents a share from 5 cents. Wells Fargo and U.S. Bancorp also raised their dividends.

Japan's currency has soared since an earthquake struck the country a week ago and caused devastating tsunami waves and damage to several nuclear plants. A stronger yen makes it more difficult for Japan's export-driven economy to recover by making Japanese goods more expensive overseas.

"This is a bit of a relief rally," said Paul Zemsky, head of asset allocation at ING Investment Management. "The situation in Japan looks to be stabilizing, or at least not getting any worse, and it looks like it may be solvable."

News early Friday that Libya's foreign minister had declared a cease-fire helped push stocks higher, but opposition forces said shelling was still occurring after the announcement and they accused the Libyan government of lying. Britain and France were taking the lead in plans to enforce a no-fly zone over Libya.

The Dow Jones industrial average gained 83.93 points, or 0.7 percent, to 11,858.52. The Standard & Poor's 500 index rose 5.49, or 0.4 percent, to 1,279.21. The Nasdaq composite index gained 7.62, or 0.3 percent, to 2,643.67.

All three stock indexes ended the week lower after markets were battered by worries over Japan's ability to get its nuclear crisis under control. The Dow lost 1.5 percent, the S&P 500 1.9 percent and the Nasdaq 2.6 percent.

Japan is the world's third-largest economy after the U.S. and China and buys 10 percent of U.S. exports. Tokyo's benchmark Nikkei index closed 2.7 percent higher after the announcement from the Group of Seven nations late Thursday.

Thousands of people have been killed in the earthquake and tsunami that followed, and hundreds of thousands are homeless. Quake damage and power cuts have forced Toyota Motor Corp. and other manufacturers to suspend production in parts of the country.

Oil prices hovered between small gains and losses after Libya's foreign minister declared a cease-fire. The announcement came hours after the Union Nations authorized air strikes against the country.

Nike Inc. fell 9 percent after the company's earnings came in below what analysts were expecting. Nike said rising costs would cut into its profits over the second half of the year, even as sales increased.

More than two stocks rose for every one that fell on the New York Stock Exchange. Consolidated trading volume was 5.3 billion shares.

5162


----------



## bigdog

Source: http://finance.yahoo.com

*ALL INDEXES ARE GREEN TODAY!!!*

Stocks started the week with big gains Monday on a major telecommunications deal and signs that Japan's nuclear crisis was stabilizing. The Dow Jones industrial average closed above 12,000 for the first time since a nuclear power plant in Japan failed following a massive earthquake and tsunami.

In the U.S., AT&T Inc. said it would buy rival T-Mobile USA for $39 billion, creating the largest U.S. cellphone company. Charles Schwab Corp. said it would buy online brokerage services provider OptionsXpress for $1 billion. The deals raised hopes that more corporate buyouts could be on the way as businesses become more confident in the economic recovery.

"You only expand when you have a good feeling about the future," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners.

The Dow Jones industrial average rose 178.01 points, or 1.5 percent, to 12,036.53. The index has gained 3.6 percent over the last three trading days, its largest jump over the same amount of time since September.

The S&P 500 index gained 19.18, or 1.5 percent, to 1,298.38. The Nasdaq composite rose 48.42, or 1.8 percent, to 2,692.09.

*The NYSE DOW NYSE DOW closed HIGHER +178.01 points +1.50% on Monday March 21*
Sym .......Last .......Change.......... 
Dow 12,036.53 +178.01 +1.50% 
Nasdaq 2,692.09 +48.42 +1.83% 
S&P 500 1,298.38 +19.18 +1.50% 
30-yr Bond 4.4450% +0.0160 


NYSE Volume 5,027,389,500  (prior day 5,937,417,000)
Nasdaq Volume 1,766,817,250 , (prior day 2,709,445,500 


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,786.09 +67.96 +1.19% 
DAX 6,816.12 +151.72 +2.28% 
CAC 40 3,904.45 +94.23 +2.47%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,734.10 +18.30 +0.39% 
Shanghai Comp 2,909.81 +2.93 +0.10% 
Taiwan We... 8,467.71 +72.96 +0.87% 
Nikkei 225 9,206.75 +244.08 +2.72% 
Hang Seng 22,685.22 +384.99 +1.73% 
Straits Times 2,983.51 +47.73 +1.63%  

http://finance.yahoo.com/news/Deals-help-push-the-Dow-back-apf-2702691051.html?x=0

*Deals help push the Dow back above 12,000

Stocks jump to another big gain on deals and easing worries about Japan's nuclear plants *

Stan Choe and David K. Randall, AP Business Writers, On Monday March 21, 2011, 5:39 pm 

NEW YORK (AP) -- Stocks started the week with big gains Monday on a major telecommunications deal and signs that Japan's nuclear crisis was stabilizing. The Dow Jones industrial average closed above 12,000 for the first time since a nuclear power plant in Japan failed following a massive earthquake and tsunami.

In the U.S., AT&T Inc. said it would buy rival T-Mobile USA for $39 billion, creating the largest U.S. cellphone company. Charles Schwab Corp. said it would buy online brokerage services provider OptionsXpress for $1 billion. The deals raised hopes that more corporate buyouts could be on the way as businesses become more confident in the economic recovery.

"You only expand when you have a good feeling about the future," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners.

The Dow Jones industrial average rose 178.01 points, or 1.5 percent, to 12,036.53. The index has gained 3.6 percent over the last three trading days, its largest jump over the same amount of time since September.

The S&P 500 index gained 19.18, or 1.5 percent, to 1,298.38. The Nasdaq composite rose 48.42, or 1.8 percent, to 2,692.09.

Energy stocks led the market higher after oil prices climbed back above $103 per barrel. Schlumberger Ltd., which helps companies drill for oil and gas, rose 4.4 percent to $89.73. ConocoPhillips rose 2.9 percent to $77.55.

Worries about Japan's stricken nuclear reactors eased after the Nuclear Regulatory Commission said the situation at the Fukushima Dai-ichi plant appeared to be stabilizing. Containment at three of the plant's six reactors was intact, the commission said.

Tiffany & Co. rose 5.1 percent to $60.22 after reporting higher-than-expected earnings. The jeweler said Japan's earthquake could hurt its earnings because of store closings and limited hours. The company does 18 percent of its business there.

The violence in Libya and Japan's earthquake have led to many large swings in the Dow since late February. The Dow rose or fell by 100 points or more during three days last week. Eight of the 15 trading days since the start of March have had swings that large.

In the latest signs of trouble in the U.S. housing market, the National Association of Realtors reported that sales of previously occupied homes fell 10 percent last month. The supply of unsold homes remains relatively high at 3.5 million.

Five stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 4.5 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks edged lower Tuesday, ending a three-day rally that had lifted the Dow Jones industrial average above 12,000 for the first time since an earthquake hit Japan more than a week ago.

The Dow dipped 17.90 points to close at 12,018.63. The broader Standard & Poor's 500 index fell 4.61, or 0.4 percent, to 1,293.77. The Nasdaq composite index fell 8.22, or 0.3 percent, to 2,683.87.

A day with such little change for stocks has been rare so far in March. The Dow has moved up or down by at least 100 points in four of the five previous trading days. Developments in Japan's nuclear crisis and the violence in Libya have been driving the volatility.

The Dow jumped 3.6 percent over the previous three days, its biggest gain since September. That has nearly brought the Dow back to its close of 12,044 on March 11, the day the earthquake struck Japan.

*The NYSE DOW NYSE DOW closed LOWER -17.90 points -0.15% on Tuesday March 22*
Sym .......Last .......Change.......... 
Dow 12,018.63 -17.90 -0.15% 
Nasdaq 2,683.87 -8.22 -0.31% 
S&P 500 1,293.77 -4.61 -0.36% 
30-yr Bond 4.4410% -0.0040 

NYSE Volume 4,040,768,000  (prior day 5,027,389,500)
Nasdaq Volume 1,683,106,250   (prior day 1,766,817,250)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,762.71 -23.38 -0.40% 
DAX 6,780.97 -35.15 -0.52% 
CAC 40 3,892.71 -11.74 -0.30%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,737.70 +3.60 +0.08% 
Shanghai Comp 2,919.17 +10.03 +0.34% 
Taiwan We... 8,508.04 +40.33 +0.48% 
Nikkei 225 9,608.32 +401.57 +4.36% 
Hang Seng 22,857.90 +172.68 +0.76% 
Straits Times 3,002.75 +19.24 +0.64%  

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks edge lower after a three-day rally

Stocks dip, ending a 3-day rally on easing concerns about Japan; Dow clings to 12,000*

Stan Choe and Matthew Craft, AP Business Writers, On Tuesday March 22, 2011, 4:52 pm EDT 

NEW YORK (AP) -- Stocks edged lower Tuesday, ending a three-day rally that had lifted the Dow Jones industrial average above 12,000 for the first time since an earthquake hit Japan more than a week ago.

The Dow dipped 17.90 points to close at 12,018.63. The broader Standard & Poor's 500 index fell 4.61, or 0.4 percent, to 1,293.77. The Nasdaq composite index fell 8.22, or 0.3 percent, to 2,683.87.

A day with such little change for stocks has been rare so far in March. The Dow has moved up or down by at least 100 points in four of the five previous trading days. Developments in Japan's nuclear crisis and the violence in Libya have been driving the volatility.

The Dow jumped 3.6 percent over the previous three days, its biggest gain since September. That has nearly brought the Dow back to its close of 12,044 on March 11, the day the earthquake struck Japan.

"We've had a really nice rally off the lows, but I think there are too many uncertainties still revolving around Libya and the recovery in Japan to give people the confidence to break the market through 1,300 on the S&P," said Carlton Neel, senior portfolio partner at Virtus Investment Partners.

Crude oil prices, a major source of concern since mid-February, rose $1.88 to settle at $104.97 per barrel. Oil briefly topped $105 on concerns that conflicts in the Middle East could pinch oil supplies as demand begins to rise.

Among the most active stocks, online video and DVD provider Netflix Inc. climbed 4 percent to $221.39. Credit Suisse upgraded the company on expectations it will expand its services overseas.

Bristol-Myers Squibb Co. rose 1 percent to $26.29. The company said late Monday that a new study of its melanoma drug helped patients with advanced skin cancer.

Walgreen Co. fell 6.6 percent to $39.21. The drugstore chain's bottom-line results were in line with expectations but the company's profit margin wasn't as strong as investors hoped.

Carnival Corp. fell 4.5 percent to $39.16 after its forecast for earnings this quarter fell short of expectations. Higher fuel prices are hindering its profits.

Stocks climbed consistently between Sept. 1 and Feb. 18, when the Dow closed at 12,391. That was the highest close since June 5, 2008. Stocks have dropped since then on worries that uprisings in Libya and across the Middle East could disrupt oil supplies.

The earthquake-tsunami disaster in Japan and the crisis at the country's nuclear plants that followed also sent stocks lower, though stocks in Japan and the U.S. have recovered in recent days on signs that the situation at the plants is stabilizing.

Falling shares outnumbered rising ones by a four-to-three margin on the New York Stock Exchange. Consolidated trading volume was 3.7 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks edged higher Wednesday after a government report showed stronger demand for gasoline.

Indexes had been lower earlier in the day but rallied after an Energy Department report showed that gasoline consumption continues to grow despite sharp price increases at the pump. It's a possible sign that motorists have handled higher fuel costs without cutting back.

Economists have been concerned that the recent spike in oil prices could imperil the economic recovery.

Oil prices reached their highest level since Sept. 26, 2008. West Texas Intermediate crude rose 78 cents to settle at $105.75 per barrel.

Stocks had been weighed down by news that the earthquake and tsunami that hit Japan will be the most expensive natural disaster in history. Financial stocks were lower after the Federal Reserve rejected Bank of America's plan to increase its dividend.

The Dow Jones industrial average rose 67.39 points, or 0.6 percent, to close at 12,086.02.

*The NYSE DOW NYSE DOW closed HIGHER +67.39 points +0.56% on Wednesday March 24*
Sym .......Last .......Change.......... 
Dow 12,086.02 +67.39 +0.56% 
Nasdaq 2,698.30 +14.43 +0.54% 
S&P 500 1,297.54 +3.77 +0.29% 
30-yr Bond 4.4480% +0.0070 

NYSE Volume 4,327,486,500  (prior day 4,040,768,000) 
Nasdaq Volume  1,683,106,250 (prior day 1,719,245,000) 


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,795.88 +33.17 +0.58% 
DAX 6,804.45 +23.48 +0.35% 
CAC 40 3,913.73 +21.02 +0.54%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,746.50 +8.80 +0.19% 
Shanghai Comp 2,949.07 +29.93 +1.03% 
Taiwan We... 8,545.08 +37.04 +0.44% 
Nikkei 225 9,449.47 -158.85 -1.65% 
Hang Seng 22,825.40 -32.50 -0.14%  
Straits Times 3,022.19 +19.44 +0.65% 

http://finance.yahoo.com/news/Stock...9.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks edge higher on strong gas demand

Stocks stage late surge after government report shows higher demand for gasoline *

David K. Randall and Matthew Craft, AP Business Writers, On Wednesday March 23, 2011, 4:49 pm 

NEW YORK (AP) -- Stocks edged higher Wednesday after a government report showed stronger demand for gasoline.

Indexes had been lower earlier in the day but rallied after an Energy Department report showed that gasoline consumption continues to grow despite sharp price increases at the pump. It's a possible sign that motorists have handled higher fuel costs without cutting back.

Economists have been concerned that the recent spike in oil prices could imperil the economic recovery.

Oil prices reached their highest level since Sept. 26, 2008. West Texas Intermediate crude rose 78 cents to settle at $105.75 per barrel.

Stocks had been weighed down by news that the earthquake and tsunami that hit Japan will be the most expensive natural disaster in history. Financial stocks were lower after the Federal Reserve rejected Bank of America's plan to increase its dividend.

The Dow Jones industrial average rose 67.39 points, or 0.6 percent, to close at 12,086.02.

The Standard & Poor's 500 index edged up 3.77 points, or 0.3 percent, to close at 1,297.54.

The Nasdaq composite index rose 14.43, or 0.5 percent, to 2,698.30.

The Japanese government estimated that rebuilding costs for the earthquake could be as high as $300 billion. The widespread devastation is expected to drag the growth rate of the Japanese economy down by 0.5 percent this year. Japanese companies such as Toyota and Honda have suspended production at some plants.

Bank of America Corp. fell 1.7 percent after the Federal Reserve rejected its plan to raise its dividend in the second half of the year. The Fed allowed several major banks to increase their dividends last week after they passed stress tests. Banks slashed their payments to shareholders during the financial crisis to save cash. Bank of America said it expects to submit another request to increase its dividend this year.

"This was obviously a disappointment," said Todd Salamone, the director of research at Schaeffer's Investment Research. "There seemed to be a growing consensus that financial stocks were looking more attractive based on the prospect of dividend increases."

In the latest bad news on the housing market, the Commerce Department reported that sales of new single-family homes plunged to the lowest on record in February. Home sales fell 17 percent to 250,000, well below the 700,000 rate that economists consider healthy. On Monday the National Association of Realtors said weak sales of existing homes and a high number of foreclosures pushed the prices of existing homes down to their lowest level in nearly 9 years.

General Mills lost 1.8 percent. The company beat analysts' profit estimates but sales in its cereal division were down 6 percent.

Rising shares outpaced falling ones by a slight margin. Consolidated trading volume was 3.9 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stronger corporate earnings and signs of a stronger job market lifted stocks Thursday.

Software company Red Hat Inc., chip maker Micron Technology Inc. and Chef Boyardee maker ConAgra Foods Inc. all reported profits that beat expectations. Earnings growth has been strong across U.S. companies, which are benefiting from lower costs and higher revenue overseas.

The government also said fewer people applied for unemployment benefits last week, evidence that layoffs are slowing. The average number of unemployment filings over the last four weeks has dropped to its lowest level since July 2008.

"Corporate earnings continue to be exceptionally strong," said Oliver Pursche, president of Gary Goldberg Financial Services. "I think the markets continue to focus on the underlying recovery of the U.S. economy."

*The NYSE DOW NYSE DOW closed HIGHER +84.54 points +0.70% on Thursday March 24*
Sym .......Last .......Change.......... 
Dow 12,170.56 +84.54 +0.70% 
Nasdaq 2,736.42 +38.12 +1.41% 
S&P 500 1,309.66 +12.12 +0.93% 
30-yr Bond 4.4700% +0.0220 

NYSE Volume 4,388,529,000  (prior day 4,327,486,500)
Nasdaq Volume 1,936,319,875  (prior day 1,683,106,250) 

*Europe*
Symbol... ......Last .....Change.......  
FTSE 100 5,880.87 +84.99 +1.47% 
DAX 6,933.58 +129.13 +1.90% 
CAC 40 3,968.84 +55.11 +1.41%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,794.20 +47.70 +1.00%  
Shanghai Comp 2,946.67 -1.80 -0.06%  
Taiwan We... 8,576.40 +31.32 +0.37% 
Nikkei 225 9,435.01 -14.46  -0.15%  
Hang Seng 22,915.28 +89.88 +0.39% 
Straits Times 3,043.03 +20.84 +0.69% 

http://finance.yahoo.com/news/Stock...1.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks rise after earnings continue to impress

US stocks rise as corporate earnings improve; fewer people apply for unemployment benefits *

Stan Choe and Matthew Craft, AP Business Writers, On Thursday March 24, 2011, 5:09 pm EDT 

NEW YORK (AP) -- Stronger corporate earnings and signs of a stronger job market lifted stocks Thursday.

Software company Red Hat Inc., chip maker Micron Technology Inc. and Chef Boyardee maker ConAgra Foods Inc. all reported profits that beat expectations. Earnings growth has been strong across U.S. companies, which are benefiting from lower costs and higher revenue overseas.

The government also said fewer people applied for unemployment benefits last week, evidence that layoffs are slowing. The average number of unemployment filings over the last four weeks has dropped to its lowest level since July 2008.

"Corporate earnings continue to be exceptionally strong," said Oliver Pursche, president of Gary Goldberg Financial Services. "I think the markets continue to focus on the underlying recovery of the U.S. economy."

The Dow Jones industrial average rose 84.54 points, or 0.7 percent, to close at 12,170.56. The Standard & Poor's 500 index rose 12.12, or 0.9 percent, to 1,309.66. The Nasdaq composite index rose 38.12 points, or 1.4 percent, to 2,736.42.

Investors turned their attention away from a long list of recent worries including high oil prices, violence in Libya and Japan's nuclear crisis. Portugal also looked closer to needing bailout funds from the European Union. Portugal's government resigned late Wednesday after lawmakers rejected a plan to cut the country's debts. European leaders are meeting to discuss the region's debt problems.

All three major indexes have gained more than 2 percent this week as Japan appeared to make progress on getting a leaking nuclear plant under control.

Among active stocks, Red Hat Inc. jumped 18 percent to $47.26, and Micron Technology Inc. rose 8 percent to $11.50 on their earnings results. ConAgra Foods Inc. rose 2 percent to $23.40.

Scholastic Corp., a publisher of children's books, fell 11 percent to $27.74. Weaker sales pushed it to a wider loss last quarter. The company also cut its forecast for full-year earnings, citing tighter budgets for schools.

Research in Motion Ltd., the maker of BlackBerry mobile devices, sank 10 percent in after-hours trading after issuing a forecast for earnings in the current quarter that was well below what analysts were expecting.

Two shares rose for every one that fell on the New York Stock Exchange. Consolidated trading volume was 3.9 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks rose for the third straight day Friday, capping the best week for the Dow Jones industrial average since July.

The government said the economy grew at a 3.1 percent annual rate in the fourth quarter of 2010. That's slightly better than economists expected and higher than the estimate made last month.

Technology shares rose after business software giant Oracle Corp. reported a 78 percent jump in income late Thursday. The database software maker credited new software license sales and the benefit of three full months of revenue from Sun Microsystems, a company it acquired last year.

The Dow rose 50.03 points, or 0.4 percent, to close at 12,220.59. It gained 362 points for the week, the most since a 512-point jump during the week ending July 9.

The S&P 500 rose 4.14, or 0.3 percent, to 1,313.80. The Nasdaq rose 6.64 points, or 0.2 percent, to 2,743.06.

All three stock indexes gained more than 2 percent for the week, helping them erase losses following the March 11 earthquake that hit Japan. The week started with a 178.01 point jump for the Dow after AT&T Inc. agreed to buy T-Mobile USA for $39 billion. That raised hopes for more buyouts. Better economic reports and stronger earnings followed, driving more gains.

*The NYSE DOW NYSE DOW closed HIGHER +50.03 points +0.41% on Friday March 25*
Sym .......Last .......Change.......... 
Dow 12,220.59 +50.03 +0.41% 
Nasdaq 2,743.06 +6.64 +0.24% 
S&P 500 1,313.80 +4.14 +0.32% 
30-yr Bond 4.5060% +0.0360 


NYSE Volume 3,961,372,250  (prior day 4,388,529,000)
Nasdaq Volume 1,796,468,000  (prior day 1,936,319,875)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,900.76 +19.89 +0.34% 
DAX 6,946.36 +12.78 +0.18% 
CAC 40 3,972.38 +3.54

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,840.30 +46.10 +0.96% 
Shanghai Comp 2,978.29 +31.58 +1.07% 
Taiwan We... 8,610.39 +33.99 +0.40%
Nikkei 225 9,536.13 +101.12 +1.07% 
Hang Seng 23,158.67 +243.39 +1.06% 
Straits Times 3,070.84 +27.81 +0.91%  

http://finance.yahoo.com/news/Stock...3.html?x=0&sec=topStories&pos=7&asset=&ccode=

*Stocks rise on Oracle earnings, higher GDP

Stocks rise after fourth quarter US economic growth revised higher, cap best week since July* 

Matthew Craft and Stan Choe, AP Business Writers, On Friday March 25, 2011, 4:48 pm EDT 

NEW YORK (AP) -- Stocks rose for the third straight day Friday, capping the best week for the Dow Jones industrial average since July.

The government said the economy grew at a 3.1 percent annual rate in the fourth quarter of 2010. That's slightly better than economists expected and higher than the estimate made last month.

Technology shares rose after business software giant Oracle Corp. reported a 78 percent jump in income late Thursday. The database software maker credited new software license sales and the benefit of three full months of revenue from Sun Microsystems, a company it acquired last year.

The Dow rose 50.03 points, or 0.4 percent, to close at 12,220.59. It gained 362 points for the week, the most since a 512-point jump during the week ending July 9.

The S&P 500 rose 4.14, or 0.3 percent, to 1,313.80. The Nasdaq rose 6.64 points, or 0.2 percent, to 2,743.06.

All three stock indexes gained more than 2 percent for the week, helping them erase losses following the March 11 earthquake that hit Japan. The week started with a 178.01 point jump for the Dow after AT&T Inc. agreed to buy T-Mobile USA for $39 billion. That raised hopes for more buyouts. Better economic reports and stronger earnings followed, driving more gains.

Investors were able to set aside a long list of worries including high oil prices, problems with Japan's nuclear reactors and fresh developments in Europe's debt crisis. Portugal looked likely to need bailout funds from the European Union after lawmakers rejected a plan to cut the country's debts and the government fell. Standard & Poor's lowered its credit rating on Portugal late Thursday.

Portugal's debt troubles aren't rattling U.S. stock investors because there's an assumption that the European Union will come to the country's aid, said Jack Ablin, chief investment officer of Harris Private Bank in Chicago. "There's really this notion that governments stand ready in Europe or elsewhere to come to the rescue," he said.

There's also little incentive to shift money into the safest of investments, like bonds, Ablin said. The benchmark 10-year Treasury currently pays 3.4 percent a year. Even with a recent bout of turbulence, the Dow has gained 5.6 percent this year. "In the short-term, taking risk pays."

The VIX, a measure of volatility for U.S. stocks, fell 27 percent over the week. That's the biggest one-week drop since August 2007.

Accenture Plc rose 4.5 percent to $54.29. The consulting firm's quarterly earnings jumped 22 percent on stronger revenue. Both its income and revenue beat analysts' expectations.

The dollar rose and Treasury prices fell after Charles Plosser, president of the Federal Reserve's Philadelphia branch, said the stronger U.S. economy requires the central bank to begin planning ways to sell Treasury bonds and raise short-term interest rates in the "not-too-distant future."

Research in Motion Ltd., the maker of the BlackBerry mobile device, fell 11 percent. Its profit jumped, but the company forecast earnings in the current quarter that were well below what analysts expected.

Two stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume was 3.5 billion shares.

5669


----------



## bigdog

Source: http://finance.yahoo.com

Stocks closed with slight losses Monday after falling in the last half-hour of trading. Major indexes had been up for most of the day after several economic reports suggested that the recovery is continuing.

The Dow Jones industrial average fell 22.71 points, or 0.2 percent, to 12,197.88. The broader S&P 500 index lost 3.61, or 0.3 percent, to 1,310.19. The Nasdaq composite fell 12.38, or 0.5 percent, to 2,730.68. Each index had been up more than 0.4 percent earlier in the day.

The Commerce Department said consumer spending rose at its fastest pace in four months in February, though some of the increase was driven by higher gas prices. The National Association of Realtors said more Americans signed contracts to buy homes in February than economists were expecting. Sales rose in every region but the Northeast, but remained below what is considered a healthy level.

*The NYSE DOW NYSE DOW closed LOWER -22.71 points -0.19% on Monday March 28*
Sym .......Last .......Change.......... 
Dow 12,197.88 -22.71 -0.19% 
Nasdaq 2,730.68 -12.38 -0.45% 
S&P 500 1,310.19 -3.61 -0.27% 
30-yr Bond 4.4940% -0.0120 

NYSE Volume 3,608,808,000  (prior day 3,961,372,250)
Nasdaq Volume 1,690,598,375  (prior day 1,796,468,000) 


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,904.49 +3.73 +0.06%  
DAX 6,938.63 -7.73 -0.11%  
CAC 40 3,976.95 +4.57 +0.12%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,831.90 -8.40 -0.17%  
Shanghai Comp 2,984.13 +6.32 +0.21%  
Taiwan We... 8,553.06 -57.33 -0.67% 
Nikkei 225 9,478.53 -57.60 -0.60% 
Hang Seng 23,068.19 -90.48 -0.39% 
Straits Times 3,057.38 -13.46 -0.44%  

http://finance.yahoo.com/news/Stock...1.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks falter despite improving economic reports

Stocks dip in late trading despite better news on consumer spending and pending home sales *

Francesca Levy and David K. Randall, AP Business Writers, On Monday March 28, 2011, 4:40 pm EDT 

NEW YORK (AP) -- Stocks closed with slight losses Monday after falling in the last half-hour of trading. Major indexes had been up for most of the day after several economic reports suggested that the recovery is continuing.

The Dow Jones industrial average fell 22.71 points, or 0.2 percent, to 12,197.88. The broader S&P 500 index lost 3.61, or 0.3 percent, to 1,310.19. The Nasdaq composite fell 12.38, or 0.5 percent, to 2,730.68. Each index had been up more than 0.4 percent earlier in the day.

The Commerce Department said consumer spending rose at its fastest pace in four months in February, though some of the increase was driven by higher gas prices. The National Association of Realtors said more Americans signed contracts to buy homes in February than economists were expecting. Sales rose in every region but the Northeast, but remained below what is considered a healthy level.

In Libya, rebels gained ground against longtime leader Moammar Gadhafi after international airstrikes against Gadhafi's forces. Oil prices fell below $104 per barrel after rebels retook control of key port towns Ras Lanouf and Brega and said they would resume exporting crude within weeks.

In the U.S., Eastman Kodak Co. gained 5 percent after the U.S. Trade Commission said it will review a judge's finding in a patent dispute with Apple Inc. and Research in Motion Ltd. A favorable ruling could pave the way for Kodak to reap higher fees.

EBay Inc. fell 4.3 percent after the company agreed to pay $2.4 billion to acquire GSI Commerce, which operates websites for retailers like Toys R Us and Bath & Body Works.

Oil-services companies Halliburton Co. and Schlumberger Ltd. each rose more than 4 percent. Netflix Inc. rose 3 percent after announcing a deal with Paramount to stream more movies to subscribers in Canada.

This is a data-heavy week on Wall Street. A crucial jobs report and manufacturing surveys will be released over the next five days.

Three stocks fell for every two that gained on the New York Stock Exchange. Consolidated volume came to 3.3 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks finished broadly higher Tuesday after consumer confidence fell less than some analysts had feared. All 10 company groups that make up the S&P 500 index rose by more than 0.3 percent.

The S&P 500 rose 9.25 points, or 0.7 percent, to 1,319.44. The Dow Jones industrial average gained 81.13 points, or 0.7 percent, to 12,279.01. The Nasdaq composite rose 26.21, or 1 percent, to 2,756.89.

Rising gas prices helped drag down consumer confidence in March. The Conference Board said its confidence index dropped to 63.4 from 72 in February.

The fall comes after five straight months of gains, but some economists had expected the decline to be even worse. Goldman Sachs had forecast a drop to 60, believing that high gas prices would pinch spending. The University of Michigan confidence survey also took a steep fall last week.

*The NYSE DOW NYSE DOW closed HIGHER +81.13 points +0.67% on Tuesday March 29*
Sym .......Last .......Change.......... 
Dow 12,279.01 +81.13 +0.67% 
Nasdaq 2,756.89 +26.21 +0.96% 
S&P 500 1,319.44 +9.25 +0.71% 
30-yr Bond 4.5450% +0.0510 

NYSE Volume 3,856,538,500  (prior day 3,608,808,000) 

Nasdaq Volume 1,647,294,250  (prior day 1,690,598,375)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,932.17 +27.68 +0.47% 
DAX 6,934.44 -4.19 -0.06%  
CAC 40 3,987.80 +10.85 +0.27%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,851.20 +19.30 +0.40%  
Shanghai Comp 2,958.43 -25.58 -0.86%  
Taiwan We... 8,596.57 +43.51 +0.51%  
Nikkei 225 9,459.08 -19.45 -0.21% 
Hang Seng 23,060.36 -7.83 -0.03% 
Straits Times 3,056.95 -0.43 -0.01%   

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks gain as confidence falls less than feared

Stocks erase earlier losses as consumer confidence falls less than some analysts had feared *

Matthew Craft, AP Business Writer, On Tuesday March 29, 2011, 4:31 pm 

NEW YORK (AP) -- Stocks finished broadly higher Tuesday after consumer confidence fell less than some analysts had feared. All 10 company groups that make up the S&P 500 index rose by more than 0.3 percent.

The S&P 500 rose 9.25 points, or 0.7 percent, to 1,319.44. The Dow Jones industrial average gained 81.13 points, or 0.7 percent, to 12,279.01. The Nasdaq composite rose 26.21, or 1 percent, to 2,756.89.

Rising gas prices helped drag down consumer confidence in March. The Conference Board said its confidence index dropped to 63.4 from 72 in February.

The fall comes after five straight months of gains, but some economists had expected the decline to be even worse. Goldman Sachs had forecast a drop to 60, believing that high gas prices would pinch spending. The University of Michigan confidence survey also took a steep fall last week.

The Conference Board survey also had a surprising result: the index measuring consumers' assessment of current conditions gained from February, putting it at the highest level since November 2008.

"Now, you can't say things are going worse than they were a month ago," said Thomas Simons, money market economist at Jefferies & Co.

Home Depot Inc. rose 2.9 percent, the most of the 30 companies in the Dow Jones industrial average. The retailer said it would buy $1 billion of its own stock with cash from selling bonds.

Stocks started lower after a report showed that home prices fell in 19 of the 20 large U.S. cities tracked by the S&P/Case-Shiller index. Washington was the only city in which prices rose. Prices have fallen 3 percent overall in the past year.

Lennar Corp. fell 3.4 percent on news that housing prices dropped in most major cities even after the homebuilder reported a surprise profit for the latest quarter. Other homebuilders fell, too. KB Home dropped 1.9 percent. Toll Brothers slipped 0.2 percent.

General Electric Co. rose 0.6 percent after announcing plans to buy 90 percent of Converteam, a France-based electrical equipment maker.

Two stocks fell for every one that rose on the New York Stock Exchange. Consolidated volume came to 3.6 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Telecommunications companies led a broad stock rally Wednesday following a report that private companies are continuing to add workers.

All ten sectors of the benchmark Standard & Poor's 500 index rose. AT&T Inc. led the 30 stocks that make up the Dow Jones industrial average with a 2.2 percent gain.

The Dow gained 71.60 points, or 0.6 percent, to 12,350.61. The S&P index rose 8.82, or 0.7 percent, to 1,328.26. The Nasdaq composite rose 19.90, or 0.7 percent, to 2,776.79.

The ADP National Employment Report said 201,000 new private sector jobs were added in March. That is roughly in line with the 210,000 analysts had expected. Investors were encouraged by a strong gain in small business hiring, said Ryan Detrick, a strategist at Schaeffer's Investment Research.

The report showed "that things are not as bleak as they seemed a few weeks ago," Detrick said.

*The NYSE DOW NYSE DOW closed HIGHER +71.60 points +0.58% on Wednesday March 30*
Sym .......Last .......Change.......... 
Dow 12,350.61 +71.60 +0.58% 
Nasdaq 2,776.79 +19.90 +0.72% 
S&P 500 1,328.26 +8.82 +0.67%  
30-yr Bond 4.5230% -0.0220  

NYSE Volume 4,240,484,500 (prior day  3,856,538,500)
Nasdaq Volume 1,833,253,875  (prior day 1,647,294,250)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,948.30 +16.13 +0.27% 
DAX 7,057.15 +122.71 +1.77% 
CAC 40 4,024.44 +36.64 +0.92%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,912.70 +61.50 +1.27%  
Shanghai Comp 2,955.91 -2.17 -0.07%  
Taiwan We... 8,646.31 +49.74 +0.58% 
Nikkei 225 9,708.79 +249.71 +2.64% 
Hang Seng 23,451.43 +'391.07 +1.70% 
Straits Times 3,095.32 +38.37 +1.26% 

http://finance.yahoo.com/news/Telecom-stocks-push-market-apf-2063320599.html?x=0

Telecom stocks push market higher; payrolls gain

Stocks rise as traders focus on solid private sector hiring, telecoms and Cephalon deal 

Francesca Levy and David K. Randall, AP Business Writers, On Wednesday March 30, 2011, 4:29 pm EDT 

NEW YORK (AP) -- Telecommunications companies led a broad stock rally Wednesday following a report that private companies are continuing to add workers.

All ten sectors of the benchmark Standard & Poor's 500 index rose. AT&T Inc. led the 30 stocks that make up the Dow Jones industrial average with a 2.2 percent gain.

The Dow gained 71.60 points, or 0.6 percent, to 12,350.61. The S&P index rose 8.82, or 0.7 percent, to 1,328.26. The Nasdaq composite rose 19.90, or 0.7 percent, to 2,776.79.

The ADP National Employment Report said 201,000 new private sector jobs were added in March. That is roughly in line with the 210,000 analysts had expected. Investors were encouraged by a strong gain in small business hiring, said Ryan Detrick, a strategist at Schaeffer's Investment Research.

The report showed "that things are not as bleak as they seemed a few weeks ago," Detrick said.

The ADP report is seen as a precursor to the government's March payrolls report due Friday, but the two reports don't always paint the same picture of the overall labor market.

Cephalon Inc. surged 28 percent, the most of any stock in the S&P index, after Valeant Pharmaceuticals International offered to take over the biopharmaceutical company for $5.7 billion in cash. Valeant, based in Canada, rose 12 percent. The takeover bid is the latest in a string of deal-related news, another positive sign for investors.

"It shows that companies still think there are some good deals out there," said Detrick. "If they are willing to pay a premium, that's a good sign for the overall stock market."

The market plodded higher against a backdrop of unsettling international news. Concerns about European debt loomed as Portugal moved closer to needing a bailout and Spain's central bank forecast a lower growth rate and higher deficit than previously predicted.

Seawater near Japan's crippled nuclear facility tested at its highest radiation levels yet and the plant's owner publicly acknowledged that four of six nuclear reactors would have to be decommissioned. In Libya, NATO forces initiated a new wave of airstrikes against Gadhafi's troops.

Asset manager BlackRock Inc. gained 6.6 percent after Standard & Poor's said the company will replace Genzyme Corp in the S&P 500 index after the close of trading on Friday.

PPG Industries Inc. gained 5.9 percent after the industrial chemical company announced that its income forecast was well above Wall Street expectations.

Three stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 3.9 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average closed its best start to the year since 1999 Thursday, rising 6.4 percent in the first three months. The index of 30 large companies gained 742 points in that stretch. Measured against other first quarters, that's the largest point gain since 1998 and the second best on record.




Stocks ended the day mixed as the price of oil jumped to a 30-month high. Slightly disappointing reports on unemployment claims and factory orders also weighed on the market.

The first-quarter gains were anything but an easy ride. Uprisings in the Arab world, a jump in oil prices along with the earthquake, tsunami and nuclear crisis in Japan led to many deep one-day falls.

"This is a market that has been defined by resilience in the face of uncertainty," said Andrew Goldberg, a market strategist at JP Morgan Funds.

The Dow Jones industrial average fell 30.88 points, or 0.3 percent, to 12,319.73. That's just 72 points shy of its Feb. 18 high for the year.

The Standard & Poor's 500 fell 2.43, or 0.2 percent, to 1,325.83. The Nasdaq composite rose 4.28, or 0.2 percent, to 2,781.07.

The S&P 500 rose 5.4 percent during the first quarter, the Nasdaq 4.8 percent.

*The NYSE DOW NYSE DOW closed LOWER -30.88 points -0.25% on Thursday March 31*
Sym .......Last .......Change.......... 
Dow 12,319.73 -30.88 -0.25%  
Nasdaq 2,781.07 +4.28 +0.15%  
S&P 500 1,325.83 -2.43 -0.18% 
30-yr Bond 4.5080% -0.0150  

NYSE Volume 4,255,097,000  (prior day  4,240,484,500) 
Nasdaq Volume  1,833,253,875 (prior day 1,945,006,000)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,938.66 -9.64 -0.16% 
DAX 7,041.31 -15.84 -0.22% 
CAC 40 3,989.18 -35.26 -0.88%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,928.60 +15.90 +0.32%  
Shanghai Comp 2,929.89 -25.88 -0.88%  
Taiwan We... 8,683.30 +36.99 +0.43% 
Nikkei 225 9,755.10 +46.31 +0.48% 
Hang Seng 23,527.52 +76.09 +0.32% 
Straits Times 3,105.85 +10.53 +0.34% 

http://news.yahoo.com/s/ap/20110331/ap_on_bi_ge/us_wall_street

*Dow has best start to the year since 1999*

By FRANCESCA LEVY and MATTHEW CRAFT, AP Business Writers Francesca Levy And Matthew Craft, Ap Business Writers

NEW YORK – The Dow Jones industrial average closed its best start to the year since 1999 Thursday, rising 6.4 percent in the first three months. The index of 30 large companies gained 742 points in that stretch. Measured against other first quarters, that's the largest point gain since 1998 and the second best on record.

Stocks ended the day mixed as the price of oil jumped to a 30-month high. Slightly disappointing reports on unemployment claims and factory orders also weighed on the market.

The first-quarter gains were anything but an easy ride. Uprisings in the Arab world, a jump in oil prices along with the earthquake, tsunami and nuclear crisis in Japan led to many deep one-day falls.

"This is a market that has been defined by resilience in the face of uncertainty," said Andrew Goldberg, a market strategist at JP Morgan Funds.

The Dow Jones industrial average fell 30.88 points, or 0.3 percent, to 12,319.73. That's just 72 points shy of its Feb. 18 high for the year.

The Standard & Poor's 500 fell 2.43, or 0.2 percent, to 1,325.83. The Nasdaq composite rose 4.28, or 0.2 percent, to 2,781.07.

The S&P 500 rose 5.4 percent during the first quarter, the Nasdaq 4.8 percent.

The market turned wildly volatile in March. In the third week, the Dow moved by more than 100 points four straight days. On March 16, fears that Japan's nuclear crisis would get even worse turned all three major indexes negative for the year. The very next day a jump in manufacturing and a drop in unemployment claims helped bring them back.

Stocks swung between small gains and losses Thursday as the price of oil surged to settle at $106.72 a barrel. Troops loyal to Libyan leader Moammar Gadhafi retook control of the key oil port of Ras Lanouf from rebel forces. The power shift threatens the quick restart of oil exports promised by a rebel victory.

Oil prices have jumped $20 since the Libyan uprising began in February. Higher oil prices can pinch spending by forcing consumers to pay more for gasoline and could cut into economic growth.

There were also slightly disappointing reports on new unemployment claims and factory orders. The Labor Department said fewer people applied for unemployment benefits last week, signaling that companies may be slowing layoffs. The number of new claims fell by 6,000 to 388,000. Analysts had expected a larger drop.

The news comes a day before the Labor Department's monthly employment report. The unemployment rate is expected to remain unchanged at 8.9 percent.

Banks in Ireland were also under pressure. The country's central bank said Thursday that four of its cash-strapped banks need another euro24 billion in coming months to show that they won't collapse in the face of future crises. Ireland has already put euro46 billion into the country's banks since 2009. The four banks will need to draw on an emergency credit line from the European Union and the International Monetary Fund


----------



## bigdog

Source: http://finance.yahoo.com

A drop in the unemployment rate to a two-year low sent stocks higher Friday.

The Labor Department said the unemployment rate fell to 8.8 percent, the lowest since March 2009, as companies added workers at the fastest two-month pace since before the recession began. Approximately 216,000 new jobs were created last month, offsetting layoffs by local governments. Economists had expected the unemployment rate to remain at 8.9 percent.

"We are clearly seeing a breakout in the labor market," said Paul Zemsky, the head of asset allocation at ING Investment Management. "The jobless recovery is ending and we are moving into a job expansion stage of the economy."

The report helped send the Dow Jones industrial average to a new 2011 high during early trading. Stocks then pared those gains in the afternoon as oil prices hit new 30-month highs. Crude oil jumped $1.22 to settle at $107.94.

The Dow's 100-point gain early in the day seemed unwarranted because the employment report was just slightly better than expected, said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. "There's a relief that the job gains were continuing, but it's not a huge surprise," he said. "It's worth maybe 40 points on the Dow."

*The NYSE DOW NYSE DOW closed HIGHER +56.99 points +0.46% on Friday April 1*
Sym .......Last .......Change.......... 
Dow 12,376.72 +56.99 +0.46% 
Nasdaq 2,789.60 +8.53 +0.31% 
S&P 500 1,332.41 +6.58 +0.50% 
30-yr Bond 4.4890% -0.0190 

NYSE Volume 4,403,707,500 (prior day 4,255,097,000)
Nasdaq Volume 2,137,496,750  (prior day 1,833,253,875)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,009.92 +101.16 +1.71% 
DAX 7,179.81 +138.50 +1.97% 
CAC 40 4,054.76 +65.58 +1.64% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,954.60 +26.00 +0.53% 
Shanghai Comp 2,967.00 +38.89 +1.33% 
Taiwan We... 8,705.13 +21.83 +0.25% 
Nikkei 225 9,708.39 -46.71 -0.48% 
Hang Seng 23,801.90 +274.38 +1.17% 
Straits Times 3,126.12 +20.27 +0.65% 

http://finance.yahoo.com/news/Stock...5.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Stocks rise after unemployment dips to 2-year low

Stocks rise in broad rally after unemployment rate falls to two-year low *

David K. Randall and Matthew Craft, AP Business Writers, On Friday April 1, 2011, 5:28 pm EDT 

NEW YORK (AP) -- A drop in the unemployment rate to a two-year low sent stocks higher Friday.

The Labor Department said the unemployment rate fell to 8.8 percent, the lowest since March 2009, as companies added workers at the fastest two-month pace since before the recession began. Approximately 216,000 new jobs were created last month, offsetting layoffs by local governments. Economists had expected the unemployment rate to remain at 8.9 percent.

"We are clearly seeing a breakout in the labor market," said Paul Zemsky, the head of asset allocation at ING Investment Management. "The jobless recovery is ending and we are moving into a job expansion stage of the economy."

The report helped send the Dow Jones industrial average to a new 2011 high during early trading. Stocks then pared those gains in the afternoon as oil prices hit new 30-month highs. Crude oil jumped $1.22 to settle at $107.94.

The Dow's 100-point gain early in the day seemed unwarranted because the employment report was just slightly better than expected, said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. "There's a relief that the job gains were continuing, but it's not a huge surprise," he said. "It's worth maybe 40 points on the Dow."

Stocks rose across the market. Eight of the 10 company groups that make up the S&P 500 index moved higher, led by a 0.9 percent rise in industrials shares.

The Dow rose 56.99 points, or 0.5 percent, to 12,376.72. The average of 30 large company stocks gained 1.3 percent for the week.

The Dow has already risen 6.9 percent this year. That's the best start since 1999.

The Standard & Poor's 500 index rose 6.58, or 0.5 percent, to 1,332.41. The Nasdaq composite rose 8.53, or 0.3 percent, to 2,789.60.

All three indexes made gains for the second week in a row. The S&P 500 rose 1.42 percent and the Nasdaq 1.7 percent.

"This jobs report shows that we are in the early stages of a sustainable recovery in employment, and that is what's letting the market put the recent correction behind us," said Phil Orlando, chief equity strategist at Federated Investors.

The Institute of Supply Management reported a slight slowing in manufacturing growth during March. The trade group's index of manufacturing activity slipped to 61.2 from February's 61.4. The drop was largely expected after manufacturing hit its highest level since May 2004 during February.

The Commerce Department delivered more bad news on the construction industry. The government said construction spending fell in February to its lowest level since 1999.

Ford rose 1.7 percent after the carmaker said sales jumped 16 percent in March as its new fuel-efficient cars proved popular. Ford also outsold General Motors in the U.S, the second time that's happened since 1998.

General Motors gained 4.5 percent after the company said its U.S. sales rose 11 percent in March.

Nasdaq OMX Group and IntercontinentalExchange said early Friday that they are making a bid for NYSE Euronext, offering what they say is a 19 percent premium to the deal the company struck with the operator of the German stock exchange. NYSE shares jumped 12.6 percent.

Two shares rose for every one that fell on the New York Stock Exchange. Trading volume was 4 billion shares.

6112


----------



## Slipperz

Tonight will be a good indicator for the week IMHO. If we  can move up past resistance it could be a nice little bull run on the cards. Most of the data seems cautiously optimistic and the futures are tiptoing into the green.....


----------



## bigdog

Source: http://finance.yahoo.com

A light trading day on Wall Street closed with slight gains for major stock indexes.

With oil prices reaching a 30-month high of $108 a barrel, some investors are waiting for Alcoa Inc. to report its first quarter earnings next Monday, the unofficial start of the earnings season, before making any big moves. Traders are hoping to see how rising gas prices and other commodity costs are affecting corporate profits.

The Dow Jones industrial average rose 23.31 points, or 0.2 percent, to 12,400.03. The S&P 500 index gained less than a point to 1,332.87.

Materials companies gained 0.7 percent, the most of any of the 10 company groups that make up the S&P 500 index, as commodity prices increased. Futures contracts for corn, wheat, and sugar each rose more than 2 percent.

The Nasdaq composite lost less than a point to 2,789.19.

*The NYSE DOW NYSE DOW closed HIGHER +23.31 points +0.19% on Monday April 4*
Sym .......Last .......Change.......... 
Dow 12,400.03 +23.31 +0.19% 
Nasdaq 2,789.19 -0.41 -0.01%  
S&P 500 1,332.87 +0.46 +0.03% 
30-yr Bond 4.4900% +0.0010  

NYSE Volume 3,577,944,250  (prior day 4,403,707,500)
Nasdaq Volume 1,724,361,375  (prior day 2,137,496,750) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,016.98 +7.06 +0.12% 
DAX 7,175.33 -4.48 -0.06% 
CAC 40 4,042.92 -11.84 -0.29%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,984.70 +30.10 +0.61% 
Shanghai Comp 2,967.00 +38.89 +1.33% 
Taiwan We... 8,705.13 +21.83 +0.25% 
Nikkei 225 9,718.89 +10.50 +0.11% 
Hang Seng 24,150.58 +348.68 +1.46% 
Straits Times 3,140.62 +20.15 +0.65%  

http://finance.yahoo.com/news/Stock...1.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Stocks edge higher as oil hits new 30-month high

Stocks edge up on corporate deals; commodity price increases lift materials companies *

Chip Cutter and David K. Randall, AP Business Writers, On Monday April 4, 2011, 4:28 pm EDT 

NEW YORK (AP) -- A light trading day on Wall Street closed with slight gains for major stock indexes.

With oil prices reaching a 30-month high of $108 a barrel, some investors are waiting for Alcoa Inc. to report its first quarter earnings next Monday, the unofficial start of the earnings season, before making any big moves. Traders are hoping to see how rising gas prices and other commodity costs are affecting corporate profits.

The Dow Jones industrial average rose 23.31 points, or 0.2 percent, to 12,400.03. The S&P 500 index gained less than a point to 1,332.87.

Materials companies gained 0.7 percent, the most of any of the 10 company groups that make up the S&P 500 index, as commodity prices increased. Futures contracts for corn, wheat, and sugar each rose more than 2 percent.

The Nasdaq composite lost less than a point to 2,789.19.

In company news, Pfizer, the world's largest drugmaker, said it would it sell its Capsugel unit to an affiliate of private equity firm Kohlberg Kravis Roberts for $2.4 billion in cash. Capsugel makes capsules for oral medicines and dietary supplements. Pfizer rose less than 1 percent.

Southwest Airlines Co. fell nearly 2 percent as the company continued to inspect its planes after the fuselage of one jet ripped open Friday, forcing it to make an emergency landing. Southwest grounded 79 planes after the incident and canceled about 700 flights over the weekend. The company said it expected to cancel an additional 70 flights on Monday.

Ford Motor Co. rose 2.6 percent. The company's sales rose 16 percent in March, in part because of the success of its new Explorer crossover vehicle. A Credit Suisse analyst upgraded the automaker, citing an improved balance sheet.

Vivus rose nearly 7 percent after the drug developer said patients taking its diet pill Qnexa over two years saw reductions in blood pressure in addition to significant weight loss.

Rising and falling shares were about even on the New York Stock Exchange. Consolidated volume came to 3.3 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

A quiet day on Wall Street left stock indexes little changed after minutes from the most recent meeting of the Federal Reserve's policy committee showed few signs that the central bank plans on making changes to its stimulus program. Trading volume continued to be light.

The minutes, from the Fed's meeting on March 15, confirmed that members of the central bank are split about whether it needs to tighten credit later this year to ward off inflation. All of the committee's members agreed that the economy is improving.

The Dow Jones industrial average fell 6.13 points, or less than 0.1 percent, to 12,393.90. The S&P 500 index was down 0.24 at 1,332.63. The Nasdaq composite gained 2, or 0.1 percent, to 2,791.19.

Companies that make basic materials rose as traders anticipated more price increases for commodities. Aluminum maker Alcoa Inc. rose 2.8 percent, Newmont Mining Corp. rose 4.4 percent and Dow Chemical Co. rose 1.3 percent.

*The NYSE DOW NYSE DOW closed LOWER -6.13 points -0.05% on Tuesday April 5*
Sym .......Last .......Change.......... 
Dow 12,393.90 -6.13 -0.05%  
Nasdaq 2,791.19 +2.00 +0.07%  
S&P 500 1,332.63 -0.24 -0.02%  
30-yr Bond 4.5110% +0.0210 

NYSE Volume 4,221,791,000   (prior day 3,577,944,250)
Nasdaq Volume 1,974,934,000  (prior day 1,724,361,375)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,007.06 -9.92 -0.16% 
DAX 7,175.31 -0.02 -0.00% 
CAC 40 4,041.74 -1.18 -0.03%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,998.60 +13.90 +0.28% 
Shanghai Comp 2,967.00 +38.89 +1.33% 
Taiwan We... 8,705.13 +21.83 +0.25% 
Nikkei 225 9,615.55 -103.34 -1.06%  
Hang Seng 24,150.58 +348.68 +1.46% 
Straits Times 3,146.75 +6.13 +0.20%  

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks end mixed; materials companies rise

Stocks close narrowly mixed; Fed minutes show dissent on inflation *

Matthew Craft and David K. Randall, AP Business Writers, On Tuesday April 5, 2011, 4:44 pm EDT 

NEW YORK (AP) -- A quiet day on Wall Street left stock indexes little changed after minutes from the most recent meeting of the Federal Reserve's policy committee showed few signs that the central bank plans on making changes to its stimulus program. Trading volume continued to be light.

The minutes, from the Fed's meeting on March 15, confirmed that members of the central bank are split about whether it needs to tighten credit later this year to ward off inflation. All of the committee's members agreed that the economy is improving.

The Dow Jones industrial average fell 6.13 points, or less than 0.1 percent, to 12,393.90. The S&P 500 index was down 0.24 at 1,332.63. The Nasdaq composite gained 2, or 0.1 percent, to 2,791.19.

Companies that make basic materials rose as traders anticipated more price increases for commodities. Aluminum maker Alcoa Inc. rose 2.8 percent, Newmont Mining Corp. rose 4.4 percent and Dow Chemical Co. rose 1.3 percent.

"I think the market is concerned that (Fed) Chairman (Ben) Bernanke doesn't share the same level of concern regarding inflation that it might wish him to, and that is leading to stronger commodity prices," said Howard Ward, the chief investment officer for GAMCO Investors.

Many investors have been more focused on the policies of the Federal Reserve rather than the threat of a government shutdown if Republicans and Democrats do not reach an agreement on federal spending levels. "There is a game of chicken going on in Washington right now to see who will move first," Ward said.

Stocks had edged lower in early trading, following most world markets, after China raised a key lending rate and the rating agency Moody's lowered Portugal's credit rating. A survey from the Institute for Supply Management reported growth at service companies last month but at a slower rate than analysts were expecting.

Technology companies climbed after Texas Instruments Inc. said it planned to buy National Semiconductor for $6.5 billion in cash. National Semiconductor soared 71 percent.

After falling more than $10 earlier in the day, Apple Inc. regained most of its losses. Nasdaq OMX Group Inc. announced a rebalancing of the Nasdaq-100 Index next month that will cut Apple's weighting in the index from 20 percent to 12 percent. That will likely force some money managers to reduce their holdings.

Trading in the largest stocks of the Nasdaq index may be more volatile before the rebalancing takes effect, but will may make index funds that are based on the Nasdaq more appropriate for lay investors, said John DiBacco, global head of equity finance at UBS.

"When you buy an index fund you are hoping for diversification," he said. "If one name makes up a fifth of the index you aren't quite accomplishing what you hoped."

KB Home fell nearly 4 percent. The homebuilder reported a first-quarter loss of $1.49 a share, far more than the 25 cents analysts were expecting.

Rising shares narrowly outpaced falling shares on the New York Stock Exchange. Consolidated volume came to 3.9 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Technology stocks rose Wednesday after the CEO of Cisco Systems Inc. promised to take "bold steps" to narrow the company's focus.

Cisco rose 5 percent, the most of any stock in the Dow Jones industrial average. CEO John Chambers said in a memo to employees that recent missteps were "unacceptable." Analysts say the company is overly reliant on revenues from state and local governments. Chambers promised that major changes were coming, although he offered few specifics.

Other technology companies also rose. Hewlett-Packard Co. rose 2.2 percent, while Microsoft Corp. and chipmaker Qualcomm Inc. each rose more than 1 percent. Broadcom Corp. gained 3.9 percent after an Oppenheimer analyst said the semiconductor company would benefit from higher sales of mobile phones.

Chip stocks were still a big focus for investors since Texas Instruments Inc. said Monday it would pay $6.5 billion in cash for National Semiconductor Corp.

Materials and energy companies fell. Monsanto Co. lost 5.6 percent after the world's biggest seed company issued an earnings forecast for the year that fell below analysts' expectations.

*The NYSE DOW NYSE DOW closed HIGHER +32.85 points +0.27% on Wednesday April 6*
Sym .......Last .......Change.......... 
Dow 12,426.75 +32.85 +0.27% 
Nasdaq 2,799.82 +8.63 +0.31% 
S&P 500 1,335.54 +2.91 +0.22% 
30-yr Bond 4.5850% +0.0740 

NYSE Volume 4,422,760,500  (prior day 4,221,791,000)
Nasdaq Volume 2,015,405,500  (prior day 1,974,934,000)


*Europe*
Symbol... ......Last .....Change.......  
FTSE 100 6,041.13 +34.07 +0.57% 
DAX 7,215.11 +39.80 +0.55% 
CAC 40 4,048.16 +6.42 +0.16% 


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 5,011.40 +12.80 +0.26% 
Shanghai Comp 3,001.23 +33.82 +1.14% 
Taiwan We... 8,851.98 +146.85 +1.69% 
Nikkei 225 9,584.37 -31.18 -0.32%  
Hang Seng 24,285.05 +134.47 +0.56% 
Straits Times 3,164.60 +17.85 +0.57% 

http://finance.yahoo.com/news/Techn...3.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Technology stocks rise; Monsanto disappoints

Talk of big moves at Cisco lifts tech companies; a miss from Monsanto leads to a fall *

Chip Cutter and Matthew Craft, AP Business Writers, On Wednesday April 6, 2011, 4:44 pm EDT 

NEW YORK (AP) -- Technology stocks rose Wednesday after the CEO of Cisco Systems Inc. promised to take "bold steps" to narrow the company's focus.

Cisco rose 5 percent, the most of any stock in the Dow Jones industrial average. CEO John Chambers said in a memo to employees that recent missteps were "unacceptable." Analysts say the company is overly reliant on revenues from state and local governments. Chambers promised that major changes were coming, although he offered few specifics.

Other technology companies also rose. Hewlett-Packard Co. rose 2.2 percent, while Microsoft Corp. and chipmaker Qualcomm Inc. each rose more than 1 percent. Broadcom Corp. gained 3.9 percent after an Oppenheimer analyst said the semiconductor company would benefit from higher sales of mobile phones.

Chip stocks were still a big focus for investors since Texas Instruments Inc. said Monday it would pay $6.5 billion in cash for National Semiconductor Corp.

Materials and energy companies fell. Monsanto Co. lost 5.6 percent after the world's biggest seed company issued an earnings forecast for the year that fell below analysts' expectations.

Energy companies fell the most out of any group within the S&P 500 index. Halliburton Co. and Baker Hughes Inc. each lost more than 2 percent. The Energy Information Administration said U.S. crude supplies grew more than expected last week, rising by 2 million barrels. Analysts expected an increase of 1.3 million barrels. Gasoline demand also dropped by 112,000 barrels per day.

The Dow Jones industrial average rose 32.85, or 0.3 percent, to 12,426.75.

The Standard & Poor's 500 index edged up 2.91 points, or 0.2 percent, to 1,335.54. The Nasdaq composite index rose 8.63 points, or 0.3 percent, to 2,799.82.

Oil prices rose, passing $109 a barrel at one point, as the dollar weakened against major foreign currencies. Oil is priced in dollars and tends to rise when the dollar falls against other currencies. The euro climbed to a 15-month high a day before the European Central Bank was expected to increase interest rates.

Traders want to see how higher prices for oil, gas and other raw materials are affecting corporate profits. They'll get their first glimpse next Monday, when Alcoa Inc. reports its first-quarter earnings, providing the unofficial start of earnings season.

Robert Russell, president of Russell & Co., a wealth advisory firm, said he expects higher commodity prices to hurt profits.

"The U.S. markets are running on fumes at this point," he said. "There's going to be more of a strain on corporate earnings."

Abercrombie & Fitch Co. rose 3 percent after several analysts raised their price targets on the company, citing the retailer's strong 2012 earnings outlook and international prospects.

More than four stocks rose for every three that fell on the New York Stock Exchange. Trading volume was 4.1 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks are ending the day with small losses after a 7.4-magnitude earthquake struck Japan.

The Dow Jones industrial average fell as many as 96 points in morning trading, but recovered most of its losses after a tsunami warning was lifted.

The Dow fell 17.26 points, or 0.1 percent, to 12,409.49 The Standard & Poor's 500 fell 2.03, or 0.2 percent, to 1,333.51. The Nasdaq composite fell 3.68, or 0.1 percent, to 2,796.14.

The quake rattled investors, partly since it struck near the same area as the massive earthquake that triggered devastating tsunami on March 11. Stock indexes pared their losses after the impact of the latest quake appeared to be less than initially feared.

In the U.S., economic news was mostly positive. The Commerce Department said 382,000 people applied for unemployment for the first time last week. That was the third drop in four weeks. The decline in applications suggests layoffs are slowing.

*The NYSE DOW NYSE DOW closed LOWER -17.26 points -0.14% on Thursday April 7*
Sym .......Last .......Change.......... 
Dow 12,409.49 -17.26 -0.14% 
Nasdaq 2,796.14 -3.68 -0.13% 
S&P 500 1,333.51 -2.03 -0.15% 
30-yr Bond 4.6230% +0.0380 

NYSE Volume 4,358,450,000  (prior day 4,422,760,500) 
Nasdaq Volume 1,822,130,250  (prior day 2,015,405,500) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,007.37 -33.76 -0.56% 
DAX 7,178.78 -36.33 -0.50% 
CAC 40 4,028.30 -19.86 -0.49%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 5,005.50 -5.90 -0.12% 
Shanghai Comp 3,008.07 +0.16 +0.01% 
Taiwan We... 8,901.72 +49.74 +0.56%                                       % 
Nikkei 225 9,590.93 +6.56 +0.07%  
Hang Seng 24,281.80 -3.25 -0.01% 
Straits Times 3,171.65 +1.32 +0.04%  

http://finance.yahoo.com/news/Stocks-dip-after-another-apf-2405445319.html?x=0

*Stocks dip after another earthquake hits Japan

Stocks dip after 7.4 magnitude quake hits Japan; losses moderate after tsunami warning lifted *

Chip Cutter and Francesca Levy, AP Business Writers, On Thursday April 7, 2011, 5:35 pm 

NEW YORK (AP) -- Stocks are ending the day with small losses after a 7.4-magnitude earthquake struck Japan.

The Dow Jones industrial average fell as many as 96 points in morning trading, but recovered most of its losses after a tsunami warning was lifted.

The Dow fell 17.26 points, or 0.1 percent, to 12,409.49 The Standard & Poor's 500 fell 2.03, or 0.2 percent, to 1,333.51. The Nasdaq composite fell 3.68, or 0.1 percent, to 2,796.14.

The quake rattled investors, partly since it struck near the same area as the massive earthquake that triggered devastating tsunami on March 11. Stock indexes pared their losses after the impact of the latest quake appeared to be less than initially feared.

In the U.S., economic news was mostly positive. The Commerce Department said 382,000 people applied for unemployment for the first time last week. That was the third drop in four weeks. The decline in applications suggests layoffs are slowing.

Major retailers also reported better-than-expected sales for March at stores that have been open at least a year. Analysts had predicted declines because of cold weather and higher gas prices.

Costco Wholesale Corp. rose 4 percent after reporting a 13 percent gain in sales. Limited Brands Inc. rose 1 percent after it said its revenue increased 14 percent because of strong sales at its Victoria's Secret stores. Nordstrom Inc. and Macy's Inc. also rose about 1 percent.

Bed Bath & Beyond Inc. rose 10 percent, the most of any stock in the Standard & Poor's 500 index. The home furnishings retailer posted strong results late Wednesday and said it expected earnings to rise 10 percent to 15 percent this year.

Constellation Brands Inc. rose 7 percent. The maker of Robert Mondavi wine and Svedka vodka recovered from a loss in the same quarter a year ago and reported a double-digit increase in wine sales in North America.

KLA-Tencor fell 5 percent, the most out of any company in the S&P 500. The chip manufacturer gets 14 percent of its revenues from Japan.

Netflix, Inc. also fell, dropping 3 percent a day after the home-entertainment company announced its decision to pay nearly $1 million per episode to stream the TV series "Mad Men." Dish Network Corp. emerged as a new competitor after announcing it would buy Blockbuster Inc. out of bankruptcy.

The yield on the 10-year Treasury note inched was flat at 3.55 percent.

The European Central Bank raised its main interest rate by a quarter point to 1.25 percent, a day after Portugal asked for a bailout. The Bank of England kept its main interest rate unchanged at 0.5 percent.

Three stocks fell for every two that rose on the New York Stock Exchange. Consolidated trading volume was 4 billion.


----------



## bigdog

Source: http://finance.yahoo.com

A surge in oil and the threat of a government shutdown weighed on stocks Friday.

Investors kept one eye on Washington, where Republicans and Democrats were in the final day of talks to reach a budget agreement. Without a deal, the federal government is expected to stop all services that aren't considered essential. That means most economic reports would be suspended. Sales of debt would continue.

Benchmark crude oil jumped $2.49 to settle at $112.79 per barrel on the New York Mercantile Exchange. That's the highest price since Sept. 22, 2008.

Over the past two months, most stocks have fallen following large jumps in oil prices as investors worried that higher transportation costs would cut into company margins and consumer spending.

The Dow Jones industrial average lost 29.44 points, or 0.2 percent, to close at 12,380.05. The Standard & Poor's 500 index slipped 5.34, or 0.4 percent, to 1,328.17. The Nasdaq composite lost 15.72, or 0.6 percent, to 2,780.42.

The Dow ended the week flat, while the S&P and Nasdaq lost 0.3 percent. All three indexes made gains in the previous two weeks.

*The NYSE DOW NYSE DOW closed LOWER -29.44 points -0.24% on Friday April 8*
Sym .......Last .......Change.......... 
Dow 12,380.05 -29.44 -0.24% 
Nasdaq 2,780.42 -15.72 -0.56% 
S&P 500 1,328.17 -5.34 -0.40%  
30-yr Bond 4.6300% +0.0070 

NYSE Volume 3,989,598,000  (prior day 4,358,450,000)
Nasdaq Volume 1,658,801,625  (prior day 1,822,130,250)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,055.75 +48.38 +0.81% 
DAX 7,217.02 +38.24 +0.53% 
CAC 40 4,061.91 +33.61 +0.83%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 5,036.50 +31.00 +0.62% 
Shanghai Comp 3,030.10 +22.19 +0.74%
Taiwan We... 8,894.54 -7.18 -0.08% 
Nikkei 225 9,768.08 +177.15 +1.85% 
Hang Seng 24,396.07 +114.27 +0.47% 
Straits Times 3,187.31 +15.66 +0.49%  

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks waver as government shutdown looms

Stocks waver as oil jumps above $112; government shutdown hangs over the market *

David K. Randall and Matthew Craft, AP Business Writers, On Friday April 8, 2011, 4:46 pm EDT 

NEW YORK (AP) -- A surge in oil and the threat of a government shutdown weighed on stocks Friday.

Investors kept one eye on Washington, where Republicans and Democrats were in the final day of talks to reach a budget agreement. Without a deal, the federal government is expected to stop all services that aren't considered essential. That means most economic reports would be suspended. Sales of debt would continue.

Benchmark crude oil jumped $2.49 to settle at $112.79 per barrel on the New York Mercantile Exchange. That's the highest price since Sept. 22, 2008.

Over the past two months, most stocks have fallen following large jumps in oil prices as investors worried that higher transportation costs would cut into company margins and consumer spending.

The Dow Jones industrial average lost 29.44 points, or 0.2 percent, to close at 12,380.05. The Standard & Poor's 500 index slipped 5.34, or 0.4 percent, to 1,328.17. The Nasdaq composite lost 15.72, or 0.6 percent, to 2,780.42.

The Dow ended the week flat, while the S&P and Nasdaq lost 0.3 percent. All three indexes made gains in the previous two weeks.

Transportation companies fell. Delta Air Lines Inc. dropped 3.9 percent, and United Parcel Service Inc. lost 1 percent. Energy companies rose, leading the 10 industry groups within the S&P 500. Occidental Petroleum Corp. rose 2.6 percent, and Anadarko Petroleum Corp. rose 1.6 percent.

Todd Salamone, director of research at Schaeffer's Investment Research, said most stocks tend to rise along with oil prices over the long term. "The recent breakdown in the pattern has largely been due to fears of supply shocks," he said. "But the oil rally could also be attributed to a stronger world economy."

World markets rose broadly. The Euro Stoxx 50, an index of European blue chips, gained 0.7 percent. Japan's benchmark Nikkei index rose 1.9 percent.

Expedia Inc. rose 13 percent, the most in the S&P 500 index, after it said it would split off its TripAdvisor.com division.

More than two stocks fell for every one that rose on the New York Stock Exchange. Trading volume was 3.7 billion shares.

6625


----------



## bigdog

Source: http://finance.yahoo.com

Stocks closed mostly lower Monday after the International Monetary Fund cut its estimate for U.S. economic growth.

Alcoa Inc. fell in after-hours trading after reporting sales that came in below what analysts were expecting. The aluminum maker was the first major company to report first-quarter earnings.

Traders are concerned about the effect of higher oil and food costs on corporate profits. Stocks turned lower in the afternoon after the IMF said that higher gas prices could slow the pace of the U.S. economy and offset a boost from the Federal Reserve's bond-buying program.

The Dow Jones industrial average rose 1.06 point, or less than 0.1 percent, to close at 12,381.11. The broader S&P 500 index fell 3.71, or 0.3 percent, to 1,324.46. Energy companies fell 1.9 percent, the most of any of the 10 company groups that make up the index.

The Nasdaq composite lost 8.91, or 0.3 percent, to 2,771.51.

*The NYSE DOW NYSE DOW closed HIGHER +1.06 points +0.01% on Monday April 11*
Sym .......Last .......Change.......... 
Dow 12,381.11 +1.06 +0.01%  
Nasdaq 2,771.51 -8.90 -0.32% 
S&P 500 1,324.46 -3.71 -0.28%  
30-yr Bond 4.6340% +0.0040 

NYSE Volume 3,860,423,000  (prior day 3,989,598,000) 
Nasdaq Volume 2,070,206,000  (prior day 1,658,801,625) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,053.44 -2.31 -0.04% 
DAX 7,204.86 -12.16 -0.17% 
CAC 40 4,038.70 -23.21 -0.57%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 5,064.90 +28.40 +0.56%  
Shanghai Comp 3,022.54 -7.48 -0.25% 
Taiwan We... 8,880.27 -14.27 -0.16% 
Nikkei 225 9,719.70 -48.38 -0.50% 
Hang Seng 24,303.07 -93.00 -0.38% 
Straits Times 3,160.44 -26.87 -0.84% 

http://finance.yahoo.com/news/Stock...9.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks weaken as IMF lowers estimate for US growth

Stocks head lower after the International Monetary Fund lowers its estimate for US growth *

Stan Choe and David K. Randall, AP Business Writers, On Monday April 11, 2011, 5:47 pm 

NEW YORK (AP) -- Stocks closed mostly lower Monday after the International Monetary Fund cut its estimate for U.S. economic growth.

Alcoa Inc. fell in after-hours trading after reporting sales that came in below what analysts were expecting. The aluminum maker was the first major company to report first-quarter earnings.

Traders are concerned about the effect of higher oil and food costs on corporate profits. Stocks turned lower in the afternoon after the IMF said that higher gas prices could slow the pace of the U.S. economy and offset a boost from the Federal Reserve's bond-buying program.

The Dow Jones industrial average rose 1.06 point, or less than 0.1 percent, to close at 12,381.11. The broader S&P 500 index fell 3.71, or 0.3 percent, to 1,324.46. Energy companies fell 1.9 percent, the most of any of the 10 company groups that make up the index.

The Nasdaq composite lost 8.91, or 0.3 percent, to 2,771.51.

After the market closed, Alcoa Inc. reported a first-quarter profit on higher aluminum prices and sales, partially offset by a weaker dollar and higher costs for energy and raw materials. Sales fell short of expectations, sending the stock down 2.6 percent to $17.31 in after-hours trading. Alcoa is traditionally the first of the 30 companies that make up the Dow average to report earnings each quarter.

Analysts have been hopeful that overall corporate earnings will come in ahead of expectations for the ninth consecutive quarter, but they still have a long list of worries including high oil prices and an aftershock that struck Japan on the one-month anniversary of the March 11 earthquake and tsunami disaster. It was the second major aftershock in less than a week to hit the country, which is the world's third-largest economy.

Much of the earnings growth for companies so far during the recovery has come from cutting jobs and other costs. Analysts say this quarter's earnings season will show more revenue growth.

More than 30 percent of companies could report revenue growth of at least 10 percent, according to S&P senior index analyst Howard Silverblatt. Analysts expect Alcoa, for example, to say its first-quarter revenue jumped 26 percent to $6.16 billion from $4.89 billion. The global economic recovery has meant more demand for Alcoa's aluminum.

Companies are also turning to deals to help them grow. Endo Pharmaceuticals agreed to buy American Medical Systems Inc. for about $2.6 billion, a premium of 34 percent. Endo rose 0.5 percent to $41.06, and American Medical jumped 32 percent to $29.50.

Level 3 Communications rose 18 percent to $1.70. The company agreed to buy Global Crossing Ltd., which jumped 69 percent to $24.97. The all-stock transaction is valued at about $1.9 billion.

Meanwhile the struggle to control NYSE Euronext Inc. escalated.

Nasdaq OMX Group Inc. and IntercontinentalExchange Inc. said their $11.3 billion bid for the parent company of the New York Stock Exchange was rejected without any talks. NYSE Euronext said it was sticking by its $10 billion deal to be acquired by Deutsche Boerse, a German exchange operator.

NYSE Euronext fell nearly 3 percent to $37.59.

Two stocks fell for every one that rose on the New York Stock Exchange. Consolidated volume came to 3.5 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks drop after Japan puts nuclear crisis on par with Chernobyl; Alcoa's revenue disappoints 

The Dow Jones industrial average lost more than 100 points Tuesday after Japan raised the severity of its nuclear crisis and Alcoa Inc. reported disappointing sales. A drop in oil prices pulled down energy stocks.

Markets also fell in Asia and Europe after Japan said the crisis at its crippled nuclear plant was as serious as the 1986 Chernobyl accident, though much less radiation has leaked.

The plant in northern Japan was damaged in the March 11 earthquake and tsunami disaster.

"It means slower growing coming out of Japan in the short term, and that's going to weigh on global growth," said Peter Cardillo, chief market economist at Avalon Partners Inc.

The Dow Jones industrial average fell 117.53 points, or 0.9 percent, to close at 12,263.58. That's the largest drop since March 16, when the Dow lost 242 points on fears of a nuclear meltdown in Japan.

The Standard & Poor's 500 index fell 10.30, or 0.8 percent, to 1,314.16. The Nasdaq composite index fell 26.72, or 1 percent, to 2,744.79.

*The NYSE DOW NYSE DOW closed LOWER -117.53 points -0.95% on Tuesday April 12*
Sym .......Last .......Change.......... 
Dow 12,263.58 -117.53 -0.95% 
Nasdaq 2,744.79 -26.72 -0.96% 
S&P 500 1,314.16 -10.30 -0.78% 
30-yr Bond 4.5750% -0.0590 

NYSE Volume 4,771,754,000  (prior day 3,860,423,000) 
Nasdaq Volume 1,830,282,500   (prior day 2,070,206,000) 


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,964.47 -88.97 -1.47% 
DAX 7,102.91 -101.95 -1.42% 
CAC 40 3,976.60 -62.10 -1.54% 


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,990.20 -74.70 -1.47%  
Shanghai Comp 3,023.33 +1.96 +0.06%  
Taiwan We... 8,732.59 -147.68   
Nikkei 225 9,555.26 -164.44 -1.69% 
Hang Seng 23,976.37 -326.70 -1.34% 
Straits Times 3,138.00 -22.44 -0.71% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks fall after Japan raises crisis level

Stocks drop after Japan puts nuclear crisis on par with Chernobyl; Alcoa's revenue disappoints *

Stan Choe and Matthew Craft, AP Business Writers, On Tuesday April 12, 2011, 4:39 pm EDT 

NEW YORK (AP) -- The Dow Jones industrial average lost more than 100 points Tuesday after Japan raised the severity of its nuclear crisis and Alcoa Inc. reported disappointing sales. A drop in oil prices pulled down energy stocks.

Markets also fell in Asia and Europe after Japan said the crisis at its crippled nuclear plant was as serious as the 1986 Chernobyl accident, though much less radiation has leaked.

The plant in northern Japan was damaged in the March 11 earthquake and tsunami disaster.

"It means slower growing coming out of Japan in the short term, and that's going to weigh on global growth," said Peter Cardillo, chief market economist at Avalon Partners Inc.

The Dow Jones industrial average fell 117.53 points, or 0.9 percent, to close at 12,263.58. That's the largest drop since March 16, when the Dow lost 242 points on fears of a nuclear meltdown in Japan.

The Standard & Poor's 500 index fell 10.30, or 0.8 percent, to 1,314.16. The Nasdaq composite index fell 26.72, or 1 percent, to 2,744.79.

The situation in Japan and an unexpected drop in U.S. exports sent bond prices sharply higher and their yields lower. The yield on the 10-year note fell to 3.49 percent from 3.58 percent late Monday.

The Commerce Department said in its monthly trade report that exports fell 1.4 percent in February, more than economists had expected and a worrisome sign for U.S. economic growth. Exports had climbed 2.6 percent in January to an all-time high.

Alcoa dropped 6 percent to $16.70 after the aluminum maker's first-quarter revenues fell short of expectations. Alcoa, one of the 30 companies that make up the Dow average, is the first large company to report quarterly earnings.

Other big companies reporting results this week include JPMorgan Chase & Co., Google Inc. and Bank of America Corp.

The energy industry lost the most of the 10 that make up the S&P 500 index. Oil prices slid 3 percent to settle at $106.25 per barrel, the lowest price this month.

Goldman Sachs, which had expected higher oil prices, surprised oil traders with a report early Tuesday saying it now expects a "substantial pullback." Chevron Corp. lost 3 percent and Exxon Mobil Corp. 2 percent.

Slot machine makers dropped after WMS Industries Inc. warned that its latest earnings will fall short of expectations. WMS sank 17 percent. International Game Technology dropped 3 percent.

Three shares fell for every one that rose on the New York Stock Exchange. Trading volume was 4.4 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stock indexes gave up early losses and edged higher Wednesday after the Federal Reserve reported encouraging news on the economy. Manufacturing, consumer spending and corporate hiring increased in all 12 regions surveyed by the central bank.

Hans Olsen, chief investment officer at J.P. Morgan Private Wealth Management, said it was a good sign that the Fed's regional economic report showed that more people were quitting their jobs.

"That only happens if people are starting to feel more confident about their job prospects," Olsen said.

The Standard & Poor's 500 index rose 0.25 point, or less than 0.1 percent, to 1,314.41. The Dow Jones industrial average rose 7.41, or 0.1 percent, to 12,270.99. The Nasdaq composite gained 16.73, or 0.6 percent, to 2,761.52.

Financial stocks fell broadly after the chief executive of JPMorgan Chase said the bank's losses from mortgages will continue.

*The NYSE DOW NYSE DOW closed HIGHER  +7.41 points +0.06% on Wednesday April 13*
Sym .......Last .......Change.......... 
Dow 12,270.99 +7.41 +0.06% 
Nasdaq 2,761.52 +16.73 +0.61% 
S&P 500 1,314.41 +0.25 +0.02% 
30-yr Bond 4.5500% -0.0250 

NYSE Volume 4,315,262,500  (prior day 4,771,754,000)
Nasdaq Volume 1,785,565,125  (prior day 1,830,282,500)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,010.44 +45.97 +0.77% 
DAX 7,177.97 +75.06 +1.06% 
CAC 40 4,006.23 +29.63 +0.75% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,999.60 +9.40 +0.19% 
Shanghai Comp 3,049.93 +28.56 +0.95%
Taiwan We... 8,780.20 +47.61 +0.55% 
Nikkei 225 9,641.18 +85.92 +0.90% 
Hang Seng 24,135.03 +158.66 +0.66% 
Straits Times 3,172.08 +34.08 +1.09% 

http://finance.yahoo.com/news/Stock...5.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks edge higher on better economic data

Stocks edge higher after Fed survey shows manufacturing, hiring improving broadly *

Stan Choe and David K. Randall, AP Business Writers, On Wednesday April 13, 2011, 5:10 pm EDT 

NEW YORK (AP) -- Stock indexes gave up early losses and edged higher Wednesday after the Federal Reserve reported encouraging news on the economy. Manufacturing, consumer spending and corporate hiring increased in all 12 regions surveyed by the central bank.

Hans Olsen, chief investment officer at J.P. Morgan Private Wealth Management, said it was a good sign that the Fed's regional economic report showed that more people were quitting their jobs.

"That only happens if people are starting to feel more confident about their job prospects," Olsen said.

The Standard & Poor's 500 index rose 0.25 point, or less than 0.1 percent, to 1,314.41. The Dow Jones industrial average rose 7.41, or 0.1 percent, to 12,270.99. The Nasdaq composite gained 16.73, or 0.6 percent, to 2,761.52.

Financial stocks fell broadly after the chief executive of JPMorgan Chase said the bank's losses from mortgages will continue.

JPMorgan Chase & Co., the first big bank to release first-quarter earnings, reported net income that beat expectations. The company's investment banking and credit card businesses did well, but its mortgage business remained weak. Chief executive Jamie Dimon said JPMorgan and other banks will likely pay more fees and penalties after investigations into foreclosure proceedings in all 50 states are finished.

JPMorgan lost 0.8 percent, Bank of America Corp. fell 1.5 percent and Wells Fargo & Co. lost 2.3 percent.

Stocks had risen in early trading after the government reported that retail sales rose 0.4 percent overall in March, though much of the gain was due to higher gas prices. It was the ninth straight month of increases.

President Obama outlined a proposal to cut the nation's budget deficit by reducing spending on defense and the growth of Medicare spending, while raising taxes on high-earning Americans and cutting many tax loopholes.

Silgan Holdings Inc., a consumer packaging maker, jumped 19 percent after announcing that it had agreed to buy rival Graham Packaging Co. in a cash-and-stock deal valued at $1.28 billion. Graham jumped 33 percent.

iRobot Corp., the maker of the Roomba vacuum cleaning robot, jumped 13 percent after saying it had signed a $230 million contract with the U.S. Navy to develop small robotic vehicles.

Rising and falling shares were roughly even on the New York Stock Exchange. Consolidated volume came to 3.9 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Financial stocks fell broadly Thursday, left out of a late lift that pared earlier losses for most major stock indexes.

Goldman Sachs dropped nearly 3 percent after Sen. Carl Levin, D-Mich., said that a panel he leads found new evidence that Goldman misled investors. JPMorgan Chase & Co. and Bank of America Corp. each fell more than 1 percent.

The Standard and Poor's 500 stock index added 0.11 point, or less than 0.1 percent, to close at 1,314.52. The Dow Jones industrial average rose 14.16, or 0.1 percent, to 12,285.15. The Nasdaq composite lost 1.30, or 0.1 percent, to 2,760.22.

Until recently, most investors assumed banks had put their troubles behind them, said Todd Salamone, director of research at Schaeffer's Investment Research. He pointed to JPMorgan Chase, the first large bank to release earnings. The bank reported first-quarter results Wednesday that beat forecasts, but CEO Jamie Dimon warned that the company could still take more losses from mortgages.

"That's one of the better banks," Salamone said, "so it makes you wonder what's going to happen going forward."


*The NYSE DOW NYSE DOW closed HIGHER +14.16 points +0.12% on Thursday April 14*
Sym .......Last .......Change.......... 
Dow 12,285.15 +14.16 +0.12% 
Nasdaq 2,760.22 -1.30 -0.05% 
S&P 500 1,314.52 +0.11 +0.01% 
30-yr Bond 4.5410% -0.0090 

NYSE Volume 4,348,061,500  (prior day 4,315,262,500)
Nasdaq Volume 1,733,185,375  (prior day 1,785,565,125)


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,963.80 -46.64 -0.78% 
DAX 7,146.56 -31.41 -0.44% 
CAC 40 3,970.39 -35.84 -0.89% 


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,972.40 -27.20 -0.54% 
Shanghai Comp 3,043.06  -7.34 -0.24% 
Taiwan We... 8,802.73 +22.53 +0.26% 
Nikkei 225 9,653.92 +12.74 +0.13% 
Hang Seng 24,014.00 -121.03 -0.50% 
Straits Times 3,158.92 -13.16 -0.41% 

http://finance.yahoo.com/news/Stock...3.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks edge higher but leave banks behind

Stocks pare early losses and end slightly higher; energy, consumer staples lead gains* 

Matthew Craft and David K. Randall, AP Business Writers, On Thursday April 14, 2011, 4:41 pm EDT 

NEW YORK (AP) -- Financial stocks fell broadly Thursday, left out of a late lift that pared earlier losses for most major stock indexes.

Goldman Sachs dropped nearly 3 percent after Sen. Carl Levin, D-Mich., said that a panel he leads found new evidence that Goldman misled investors. JPMorgan Chase & Co. and Bank of America Corp. each fell more than 1 percent.

The Standard and Poor's 500 stock index added 0.11 point, or less than 0.1 percent, to close at 1,314.52. The Dow Jones industrial average rose 14.16, or 0.1 percent, to 12,285.15. The Nasdaq composite lost 1.30, or 0.1 percent, to 2,760.22.

Until recently, most investors assumed banks had put their troubles behind them, said Todd Salamone, director of research at Schaeffer's Investment Research. He pointed to JPMorgan Chase, the first large bank to release earnings. The bank reported first-quarter results Wednesday that beat forecasts, but CEO Jamie Dimon warned that the company could still take more losses from mortgages.

"That's one of the better banks," Salamone said, "so it makes you wonder what's going to happen going forward."

Bank of America, the country's biggest bank and one of largest mortgage underwriters, reports earnings Friday morning.

Stock indexes were lower for most of the day after claims for unemployment benefits rose unexpectedly for the first time in three weeks. The Labor Department said 412,000 people applied for unemployment benefits last week. Economists expected claims to fall.

Applications for benefits peaked at 659,000 during the recession and have dropped by roughly 6 percent in the past four months.

Ford Motor Co. fell 1.1 percent. The car maker announced that it was expanding its recall of its F-150 pickup truck because of a problem with air bags. Ford's F-Series truck is the best-selling vehicle in the U.S.

Among companies reporting earnings, toy maker Hasbro Inc. fell 3 percent after reporting that its first-quarter profits slumped 71 percent. The results fell short of analysts' estimates.

Grocery chain Supervalu said quarterly profits and sales fell compared with a year ago. Analysts expected earnings to be worse. Supervalu rose nearly 17 percent.

Data-storage company Iron Mountain rose 5 percent. Iron Mountain replaced its CEO after a shareholder, the hedge fund Elliott Management, called for a strategic review of the business.

Rental car company Zipcar Inc. shot up nearly 56 percent on its first day of trading.

Google Inc. fell 4 percent in after-market trading after the Internet search company reported earnings that missed estimates.

Four stocks rose for every three that fell on the New York Stock Exchange. Consolidated volume came to 4 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks made modest gains Friday as encouraging signs on the economy overshadowed disappointing earnings from Google and Bank of America.

Stock indexes closed lower for the week. The Dow Jones industrial average dropped 117 points Tuesday when Japan raised the severity of its nuclear crisis and Alcoa Inc. reported disappointing sales.

The Federal Reserve reported that U.S. factories increased production for the ninth straight month. Separately, the Labor Department said consumer prices rose just 0.1 percent last month excluding food and gas prices. That's lower than the 0.2 percent increase economists were expecting.

Consumers' confidence in the economy is also growing more than analysts predicted, according to a survey by Thomas Reuters and the University of Michigan.

Bond prices rose as the Labor Department report eased concerns about inflation. The yield on the 10-year Treasury note fell to 3.41 percent from 3.51 percent late Thursday. Bond yields fall when their prices rise

The Dow Jones industrial average rose 56.68 points, or 0.5 percent, to 12,341.83. The Standard & Poor's 500 index rose 5.16 points, or 0.4 percent, to 1,319.68.

The Nasdaq composite gained 4.43, or 0.2 percent, to 2,764.65.

*The NYSE DOW NYSE DOW closed HIGHER +56.68 points  +0.46%  on Friday April 15*
Sym .......Last .......Change.......... 
Dow 12,341.83 +56.68 +0.46% 
Nasdaq 2,764.65 +4.43 +0.16% 
S&P 500 1,319.68 +5.16 +0.39%  
30-yr Bond 4.4680% -0.0730 

NYSE Volume 4,414,206,000  (prior day 4,348,061,500)
Nasdaq Volume 1,809,548,625  (prior day 1,733,185,375) 


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,996.01 +32.21 +0.54% 
DAX 7,178.29 +31.73 +0.44% 
CAC 40 3,974.48 +4.09 +0.10%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,939.30 -33.10 -0.67%  
Shanghai Comp 3,050.81  +8.17 +0.27% 
Taiwan We... 8,718.12 -84.61  
Nikkei 225 9,591.52 -62.40 -0.65% 
Hang Seng 24,008.07 -5.93 -0.02% 
Straits Times 3,153.30 -5.62 -0.18%  

http://finance.yahoo.com/news/Manuf...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Manufacturing, inflation news sends stocks higher

Stocks rise following reports of manufacturing growth; inflation remains tame *

David K. Randall and Matthew Craft, AP Business Writers, On Friday April 15, 2011, 4:41 pm EDT 

NEW YORK (AP) -- Stocks made modest gains Friday as encouraging signs on the economy overshadowed disappointing earnings from Google and Bank of America.

Stock indexes closed lower for the week. The Dow Jones industrial average dropped 117 points Tuesday when Japan raised the severity of its nuclear crisis and Alcoa Inc. reported disappointing sales.

The Federal Reserve reported that U.S. factories increased production for the ninth straight month. Separately, the Labor Department said consumer prices rose just 0.1 percent last month excluding food and gas prices. That's lower than the 0.2 percent increase economists were expecting.

Consumers' confidence in the economy is also growing more than analysts predicted, according to a survey by Thomas Reuters and the University of Michigan.

Bond prices rose as the Labor Department report eased concerns about inflation. The yield on the 10-year Treasury note fell to 3.41 percent from 3.51 percent late Thursday. Bond yields fall when their prices rise

The Dow Jones industrial average rose 56.68 points, or 0.5 percent, to 12,341.83. The Standard & Poor's 500 index rose 5.16 points, or 0.4 percent, to 1,319.68.

The Nasdaq composite gained 4.43, or 0.2 percent, to 2,764.65.

"With the data that we saw this morning, there are a lot of reasons to be cautiously optimistic that we'll see a strengthening economy for a while and a steady lift in the (stock market)," said Doug Godine, a managing director at Signal Hill, an investment bank.

Google Inc. weighed on technology stocks after the company said it missed earnings estimates, due in part to a hiring spree that will last throughout the year. The company fell 8.3 percent.

Bank of America Corp. also missed analyst estimates. The country's largest bank fell 2.4 percent as problems in the bank's mortgage business continued to weigh on its results.

Broker Charles Schwab Corp. gained 2 percent after the company said its first quarter earnings beat analyst expectations.

The S&P index lost 0.6 percent for the week, its second straight week of losses. The Dow average was down 0.3 percent, its first down week since March 18.

More than two stocks rose for every one that fell on the New York Stock Exchange. Trading volume was 4 billion shares.
6951


----------



## bigdog

Source: http://finance.yahoo.com

A warning from Standard & Poor's that the agency might lower its rating on U.S. government debt sent stocks on their steepest slide in a month Monday.

S&P said there is a 33 percent chance it would lower the country's credit rating from AAA in the next two years if Washington fails to pare the country's debts.

The Dow Jones industrial average, the S&P 500 index and the Nasdaq composite all had their sharpest falls since March 16.

The Dow fell 140.24 points, or 1.1 percent, to close at 12,201.59. The Standard & Poor's 500 fell 14.54, or 1.1 percent, to 1,305.14. The Nasdaq composite fell 29.27, also 1.1 percent, to 2,735.38.

S&P reaffirmed the U.S. government's top credit rating of AAA but expressed doubts that Washington would move quickly to curb the country's mounting budget deficits.

U.S. government bonds are widely seen as the benchmark for the safest kind of debt. The highly unusual move by the ratings agency to lower its outlook for U.S. debt to "negative" from "stable" caught investors off guard.


*The NYSE DOW NYSE DOW closed LOWER -140.24 -points 1.14% on Monday April 18*
Sym .......Last .......Change.......... 
Dow 12,201.59 -140.24 -1.14% 
Nasdaq 2,735.38 -29.27 -1.06% 
S&P 500 1,305.14 -14.54 -1.10% 
30-yr Bond 4.4540% -0.0140  

NYSE Volume 5,058,654,000  (prior day 4,414,206,000)
Nasdaq Volume 1,821,579,000  (prior day 1,809,548,625) 


*Europe*
Symbol... ......Last .....Change.......  
FTSE 100 5,870.08 -125.93 -2.10% 
DAX 7,026.85 -151.44 -2.11% 
CAC 40 3,881.24 -93.24 -2.35% 


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,945.40 +6.10 +0.12% 
Shanghai Comp 3,056.98   +6.46 +0.21%  
Taiwan We... 8,714.48 -3.64 -0.04% 
Nikkei 225 9,556.65 -34.87 -0.36% 
Hang Seng 23,830.31 -177.76 -0.74% 
Straits Times 3,144.38 -8.92 -0.28% 

http://finance.yahoo.com/news/Stocks-sink-after-SP-issues-apf-2235068999.html?x=0

*Stocks sink after S&P issues warning on US debt

Stocks have their biggest drop in a month after Standard & Poor's lowers outlook on US debt *

Matthew Craft and Francesca Levy, AP Business Writers, On Monday April 18, 2011, 4:49 pm EDT 

NEW YORK (AP) -- A warning from Standard & Poor's that the agency might lower its rating on U.S. government debt sent stocks on their steepest slide in a month Monday.

S&P said there is a 33 percent chance it would lower the country's credit rating from AAA in the next two years if Washington fails to pare the country's debts.

The Dow Jones industrial average, the S&P 500 index and the Nasdaq composite all had their sharpest falls since March 16.

The Dow fell 140.24 points, or 1.1 percent, to close at 12,201.59. The Standard & Poor's 500 fell 14.54, or 1.1 percent, to 1,305.14. The Nasdaq composite fell 29.27, also 1.1 percent, to 2,735.38.

S&P reaffirmed the U.S. government's top credit rating of AAA but expressed doubts that Washington would move quickly to curb the country's mounting budget deficits.

U.S. government bonds are widely seen as the benchmark for the safest kind of debt. The highly unusual move by the ratings agency to lower its outlook for U.S. debt to "negative" from "stable" caught investors off guard.

"This is a wake-up call," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners Inc. "The government is now going to have to do something to cut the budget. That is a long-term positive for the stock market, though it might not be in the near term."

The change means that S&P could lower its rating on U.S. government debt in the future. If that were to happen, the U.S. government would have to pay more to borrow money when it issues bonds.

Since the government's borrowing rates are used as a benchmark for nearly all kinds of debt, many borrowers would also pay higher rates, including companies, homeowners and credit card users. That would have a negative impact on spending in general and the overall economy.

"The credit worthiness of the country is the underpinning on which all other asset classes are valued," said Jack Ablin, chief investment officer at Harris Private Bank. "If all of a sudden the credit quality of U.S. Treasurys isn't as high as people perceive, we could see (an) erosion of confidence and values decline."

U.S. government debt prices fell after the S&P warning came out but soon recovered. The yield on the 10-year Treasury note, which rises when the note's price falls, jumped as high 3.47 percent after the S&P's warning, from 3.38 percent just before. By late afternoon the yield was back at 3.38 percent.

The euro fell against the dollar as Europe's debt problems spread. Spain had to pay a much higher interest rate on new debt. There was speculation of a possible default by Greece, and a nationalist party in Finland made big gains in an election Sunday.

The euro was worth $1.4235 in late trading, down from $1.4436 Friday.

Citigroup Inc. closed flat at $4.42 after reporting earnings that came in just above analysts' expectations. The bank's net income fell 32 percent but it was able to set aside less money to cover losses from loan defaults as more customers made payments on time.

Several other big banks are due to report earnings this week. Traders are keen to find out if banks are lending more. Upcoming reports from Goldman Sachs Group Inc. and Wells Fargo & Co. this week are "crucial for the markets," says Quincy Krosby, a market strategist for Prudential Financial.

Industrial supply company W.W. Grainger rose 1.7 percent. The company's first-quarter net income soared after it began offering new products and pushed into Mexico, Colombia and Japan.

Four stocks fell for every one that rose on the New York Stock Exchange. Trading volume was 4.6 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Strong earnings from Johnson & Johnson helped stocks rebound Tuesday, a day after suffering their worst one-day drop in more than a month.

Johnson & Johnson rose 3.7 percent, leading the 30 companies in the Dow Jones industrial average, with earnings that beat Wall Street's expectations. The health care heavyweight also raised its full-year profit forecast.

Stocks traded in a narrow range throughout the day. Goldman Sachs and other companies reported weak earnings, and worries lingered over a warning from Standard & Poor's about U.S. government debt.

Zions Bancorporation rose 3.9 percent, the most of any company in the Standard & Poor's 500 index. The Utah bank reported a first-quarter profit after posting a loss a year ago. It also said customers were getting better at paying back loans, allowing the bank to set aside less money to cover defaults.

The Commerce Department reported that builders broke ground in March on more new homes than analysts expected. Home construction rose 7.2 percent from February.

The Dow Jones industrial average rose 65.16 points, or 0.5 percent, to close at 12,266.75. The Standard & Poor's 500 index rose 7.48, or 0.6 percent, to 1,312.62. The Nasdaq composite rose 9.59, or 0.4 percent, to 2,744.97.

*The NYSE DOW NYSE DOW closed HIGHER +65.16 points +0.53%  on Tuesday April 19*
Sym .......Last .......Change.......... 
Dow 12,266.75 +65.16 +0.53% 
Nasdaq 2,744.97 +9.59 +0.35% 
S&P 500 1,312.62 +7.48 +0.57%  
30-yr Bond 4.4270% -0.0270 

NYSE Volume 4,228,962,500  (prior day 5,058,654,000)
Nasdaq Volume 1,723,697,750  (prior day 1,821,579,000)


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,896.87 +26.79 +0.46% 
DAX 7,039.31 +12.46 +0.18% 
CAC 40 3,908.58 +27.34 +0.70%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,874.30 -71.10 -1.44% 
Shanghai Comp 3,000.08 -57.25 -1.87% 
Taiwan We... 8,638.55 -75.93 -0.87% 
Nikkei 225 9,441.03 -115.62 -1.21% 
Hang Seng 23,520.62 -309.69 -1.30% 
Straits Times 3,125.37 -19.01 -0.60%  

http://finance.yahoo.com/news/Stock...9.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Johnson & Johnson leads Dow stocks higher

Health-care giant J&J beats earnings estimates; stocks rebound from worst drop since March *

Matthew Craft and Francesca Levy, AP Business Writers, On Tuesday April 19, 2011, 4:46 pm EDT 

NEW YORK (AP) -- Strong earnings from Johnson & Johnson helped stocks rebound Tuesday, a day after suffering their worst one-day drop in more than a month.

Johnson & Johnson rose 3.7 percent, leading the 30 companies in the Dow Jones industrial average, with earnings that beat Wall Street's expectations. The health care heavyweight also raised its full-year profit forecast.

Stocks traded in a narrow range throughout the day. Goldman Sachs and other companies reported weak earnings, and worries lingered over a warning from Standard & Poor's about U.S. government debt.

Zions Bancorporation rose 3.9 percent, the most of any company in the Standard & Poor's 500 index. The Utah bank reported a first-quarter profit after posting a loss a year ago. It also said customers were getting better at paying back loans, allowing the bank to set aside less money to cover defaults.

The Commerce Department reported that builders broke ground in March on more new homes than analysts expected. Home construction rose 7.2 percent from February.

The Dow Jones industrial average rose 65.16 points, or 0.5 percent, to close at 12,266.75. The Standard & Poor's 500 index rose 7.48, or 0.6 percent, to 1,312.62. The Nasdaq composite rose 9.59, or 0.4 percent, to 2,744.97.

Major stock indexes posted their largest one-day drop in over a month Monday after S&P said it might lower its rating on U.S. government bonds if Washington failed to tackle its mounting debts. While the rating agency kept its U.S. debt rating at AAA, the highest possible, it warned that there was a one-in-three chance it would downgrade U.S. debt within two years.

U.S. government bonds fared well despite the S&P warning. Bond prices moved higher Monday and again on Tuesday, lowering their yields. The yield on the 10-year Treasury note edged down to 3.37 percent from 3.38 percent.

Economists and bond traders offered a handful of explanations. If S&P's warning prods Congress and the Obama administration to cut budget deficits sooner, it would likely lead to lower economic growth, leading traders to buy bonds.

"If it serves as a catalyst (for long-term debt reduction) then that's a good thing for Treasurys," said George Goncalves, head of U.S. rates strategy at Nomura Securities.

A slower economy would also lead the Federal Reserve to postpone any increases in interest rates, Goldman Sachs economists said in a note to clients. That would be another positive for bonds.

Goncalves said bond traders were more likely to worry about more immediate problems such as the looming fight in Congress over raising the federal debt limit, not the threat of a downgrade from S&P in 2013. "That's so far down the road," he said. "In this market, two years is an eternity."

Among other companies reporting earnings Tuesday, Goldman Sachs said first-quarter income fell 72 percent after it paid $1.64 billion in dividends to Warren Buffett's Berkshire Hathaway Inc. Goldman's stock slipped 1.9 percent.

Trucking company Paccar Inc. rose 4 percent after its income and revenues beat analysts' expectations.

Harley-Davidson Inc. reported that its income more than tripled but missed Wall Street estimates. The motorcycle maker's stock fell 5.3 percent.

United States Steel Corp. rose 4.5 percent after announcing the sale of its 841-foot U.S. Steel Tower, Pittsburgh's tallest building, to a New york-based investment group.

Texas Instruments Inc. fell less than 1 percent. The chip-maker said late Monday that the Japanese earthquake and tsunami set its production back, reducing first-quarter income and likely cutting into second-quarter growth.

After the market closed, Intel Corp. said earnings jumped 29 percent, surpassing estimates. Business spending on new computers offset a design error in one of its chips. Intel rose 6.2 percent in extended trading.

Two shares rose for every one that fell on the New York Stock Exchange. Trading volume was 3.9 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Strong earnings from technology companies including Intel Corp. sent stocks sharply higher Wednesday. The Nasdaq composite index had its biggest one-day jump in six months, and the Dow Jones industrial average closed at its highest level in nearly three years.

Intel rose 7.8 percent, the most of the 30 companies in the Dow average, after the chip-maker reported that its income rose 29 percent in the first quarter because of rising demand for personal computers. The results easily beat analysts' expectations and allayed concerns that surging sales of tablet computers would hurt Intel's results.

Industrial conglomerate United Technologies Corp. rose 4 percent. The company's income jumped 17 percent, also beating Wall Street expectations. The company also raised its forecast for 2011 profit.

The Dow jumped 186.79 points, or 1.5 percent, to close at 12,453.54. That's the highest close since June 5, 2008.

The Nasdaq rose 57.54, or 2.1 percent, to 2,802.51. The tech-heavy index hadn't jumped that much since Oct. 5. The Standard & Poor's 500 index rose 17.74, or 1.4 percent, to 1,330.36.

With the gains, all three indexes turned positive for the week. Stocks took a steep slide Monday after Standard & Poor's warned that it might lower its rating on U.S. government debt in the next two years. The Dow lost 140 points.

*The NYSE DOW NYSE DOW closed HIGHER +186.79 points +1.52% on Tuesday April 20*
Sym .......Last .......Change.......... 
Dow 12,453.54 +186.79 +1.52% 
Nasdaq 2,802.51 +57.54 +2.10% 
S&P 500 1,330.36 +17.74 +1.35% 
30-yr Bond 4.4540% +0.0270 

NYSE Volume 4,705,750,000  (prior day 4,228,962,500)
Nasdaq Volume 2,139,990,000  (prior day 1,723,697,750)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,022.26 +125.39 +2.13% 
DAX 7,249.19 +209.88 +2.98% 
CAC 40 4,004.62 +96.04 +2.46% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,940.20 +65.90 +1.35% 
Shanghai Comp 3,007.77 +8.73 +0.29% 
Taiwan We... 8,813.28 +174.73 +2.02% 
Nikkei 225 9,606.82 +165.79 +1.76% 
Hang Seng 23,896.10 +375.48 +1.60% 
Straits Times 3,165.80 +40.43 +1.29%  

http://finance.yahoo.com/news/Stron...5.html?x=0&sec=topStories&pos=9&asset=&ccode=

*Strong tech earnings push Dow near 3-year high

Stocks end sharply higher after Intel and other tech companies blow past earnings estimates *

Matthew Craft and Francesca Levy, AP Business Writers, On Wednesday April 20, 2011, 4:49 pm EDT 

NEW YORK (AP) -- Strong earnings from technology companies including Intel Corp. sent stocks sharply higher Wednesday. The Nasdaq composite index had its biggest one-day jump in six months, and the Dow Jones industrial average closed at its highest level in nearly three years.

Intel rose 7.8 percent, the most of the 30 companies in the Dow average, after the chip-maker reported that its income rose 29 percent in the first quarter because of rising demand for personal computers. The results easily beat analysts' expectations and allayed concerns that surging sales of tablet computers would hurt Intel's results.

Industrial conglomerate United Technologies Corp. rose 4 percent. The company's income jumped 17 percent, also beating Wall Street expectations. The company also raised its forecast for 2011 profit.

The Dow jumped 186.79 points, or 1.5 percent, to close at 12,453.54. That's the highest close since June 5, 2008.

The Nasdaq rose 57.54, or 2.1 percent, to 2,802.51. The tech-heavy index hadn't jumped that much since Oct. 5. The Standard & Poor's 500 index rose 17.74, or 1.4 percent, to 1,330.36.

With the gains, all three indexes turned positive for the week. Stocks took a steep slide Monday after Standard & Poor's warned that it might lower its rating on U.S. government debt in the next two years. The Dow lost 140 points.

The tech rally could stretch into Thursday with help from earnings results Apple Inc. reported after the market closed. The company's results were well ahead of analysts' estimates on both sales and profits. Apple rose 2.5 percent in after-market trading.

The stronger earnings reports came after mainly disappointing results released last week. Google Inc. and Alcoa Inc. were among the big companies whose earnings didn't live up to expectations.

"The contrast from last week is driving stocks," said Clark Yingst, chief market analyst at investment bank Joseph Gunnar.

Several other prominent companies also reported much stronger earnings. Freeport-McMoRan Copper & Gold Inc. jumped 3 percent after the mining company's income came in well ahead of analysts' expectations.

Wynn Resorts Ltd. rose 6.5 percent after its revenue climbed 39 percent. The casino operator opened a new Macau resort and won more money from gamblers at table games in Las Vegas.

IBM Corp. also beat earnings expectations but the stock was flat after the company said it signed fewer overseas contracts.

Yahoo Inc. rose 4.6 percent after reporting that cost-cutting efforts pushed its earnings above Wall Street's expectations. Yahoo also reported a 10 percent jump in display advertising.

Not all companies beat expectations. Altria Group Inc. fell 0.9 percent after reporting that it sold fewer cigarettes.

AT&T Inc. fell 0.6 percent after saying it pulled in the lowest number of new subscribers for iPhones because of competition from Verizon.

Wells Fargo & Co. fell 4 percent. The bank reported a sharp decline in new mortgages.

Nearly five shares rose for every one that fell on the New York Stock Exchange. Trading volume was 4.3 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

*US Markets will be closed on Friday for the Good Friday holiday.*

Strong earnings reports from big companies including Apple Inc. and UnitedHealth Group Inc. lifted stocks across the market Thursday.

The Dow Jones industrial average closed at another 2011 high. The 30-company index rose 52.45 points, or 0.4 percent, to 12,505.99.

"There are a lot of concerns out there, but investors are looking at the bottom line right now, and that's earnings," said Yu-Dee Chang, the chief trader at ACE Investment Strategists, a money management firm based in Virginia.

The Standard & Poor's 500 index gained 7.02, or 0.5 percent, to 1,337.38. The S&P 500, a benchmark for most mutual funds, is now less than 6 points away from its highest close of 2011.

The gains were broad. All 10 company groups that make up the S&P index rose, led by a nearly 1 percent gain in technology companies.

The Nasdaq composite index rose 17.65 points, or 0.6 percent, to 2,820.16.

*The NYSE DOW NYSE DOW closed HIGHER +52.45 points +0.42% on Wednesday April 21*
Sym .......Last .......Change.......... 
Dow 12,505.99 +52.45 +0.42% 
Nasdaq 2,820.16 +17.65 +0.63% 
S&P 500 1,337.38 +7.02 +0.53% 
30-yr Bond 4.4760% +0.0220 

NYSE Volume 3,947,329,750  (prior day 4,705,750,000)
Nasdaq Volume 1,887,929,750 (prior day 2,139,990,000) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,018.30 -3.96 -0.07%  
DAX 7,295.49 +46.30 +0.64% 
CAC 40 4,021.88 +17.26 +0.43%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,995.70 +55.50 +1.12% 
Shanghai Comp 3,027.21 +20.18 +0.67% 
Taiwan We... 8,957.65 +144.37 +1.64% 
Nikkei 225 9,685.77 +78.95 +0.82% 
Hang Seng 24,138.31 +242.21 +1.01% 
Straits Times 3,194.73 +28.93 +0.91%  

http://finance.yahoo.com/news/Blue-chip-earnings-push-stock-apf-3618838099.html?x=0

*Blue chip earnings push stock indexes higher

Apple, UnitedHealth beat earnings estimates; Dow average hits another 2011 high *

Matthew Craft and David K. Randall, AP Business Writers, On Thursday April 21, 2011, 4:58 pm 

NEW YORK (AP) -- Strong earnings reports from big companies including Apple Inc. and UnitedHealth Group Inc. lifted stocks across the market Thursday.

The Dow Jones industrial average closed at another 2011 high. The 30-company index rose 52.45 points, or 0.4 percent, to 12,505.99.

"There are a lot of concerns out there, but investors are looking at the bottom line right now, and that's earnings," said Yu-Dee Chang, the chief trader at ACE Investment Strategists, a money management firm based in Virginia.

The Standard & Poor's 500 index gained 7.02, or 0.5 percent, to 1,337.38. The S&P 500, a benchmark for most mutual funds, is now less than 6 points away from its highest close of 2011.

The gains were broad. All 10 company groups that make up the S&P index rose, led by a nearly 1 percent gain in technology companies.

The Nasdaq composite index rose 17.65 points, or 0.6 percent, to 2,820.16.

Apple Inc. rose nearly 3 percent after reporting sales and income late Wednesday that came in way ahead of analysts' estimates. The company sold 18.7 million iPhones in the latest quarter, millions more than expected. Verizon Wireless started selling the phones in February, ending three and a half years of exclusivity by AT&T Inc.

The Travelers Companies Inc. rose nearly 4 percent, leading the 30 companies in the Dow average, after reporting stronger earnings and a 14 percent dividend increase. The commercial insurer benefited from a drop in losses from catastrophe claims and more companies buying insurance.

UnitedHealth jumped 8 percent after the health insurer said profits rose 13 percent as more employees signed up for coverage.

The stronger earnings results were tempered by weaker-than-expected economic reports. The Labor Department said Thursday that the number of people who applied for unemployment benefits fell last week to 403,000. Economists had expected a larger drop. A separate report from the Federal Reserve Bank of Philadelphia found that manufacturing activity in the Philadelphia area fell in April.

Other companies in the Dow fell after investors found worrying signs in their earnings reports.

McDonald's Corp. fell nearly 2 percent, despite beating analyst's earnings estimates, after the company said it expects the cost of most of its ingredients to rise by as much as 5 percent throughout the year.

General Electric Co. dropped 2 percent, also despite beating estimates. The company said revenues at its industrial businesses were not growing as quickly as the company's rivals.

Two stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 3.7 billion shares.

Markets will be closed on Friday for the Good Friday holiday.


----------



## bigdog

Source: http://finance.yahoo.com

Mixed corporate earnings reports weighed on stocks Monday.

Kimberly-Clark Corp., the maker of Kleenex and Huggies, dropped 2.7 percent after missing earnings estimates. The company also lowered its earnings forecast for the full year and said it plans to raise prices to offset higher costs.

Traders said rising commodity costs were making investors cautious.

"It's becoming harder to become overly exuberant over backwards-looking earnings when it's clear that consumers' pocketbooks are getting squeezed over higher gasoline costs," said Paul Zemsky, a market strategist at ING Investment Management. "Given that we're near the ... highs for the year, we're certainly not adding to our (stock) positions until we get a sense of what these oil prices mean to the consumer."

Johnson Controls Inc. fell 2.8 percent. The auto parts supplier said it expects revenue to drop by $500 million in the third quarter because of the earthquake in Japan.

The NYSE DOW NYSE DOW closed LOWER -26.11 points -0.21% on Monday April 25
Sym .......Last .......Change.......... 
Dow 12,479.88 -26.11 -0.21%  
Nasdaq 2,825.88 +5.72 +0.20%  
S&P 500 1,335.25 -2.13 -0.16% 
30-yr Bond 4.4590% -0.0170  

NYSE Volume 3,235,746,500  (prior day 3,947,329,750)
Nasdaq Volume 1,491,749,500  (prior day 1,887,929,750) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,018.30 closed for Monday holiday 
DAX 7,295.49 closed for Monday holiday 
CAC 40 4,021.88 closed for Monday holiday 


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,995.70 closed for Monday holiday 
Shanghai Comp 2,965.06 +0.11 +0.00%  
Nikkei 225 9,671.96 -10.25  -0.11%
Nikkei [.N225  9671.96    -10.25  -0.11%
Hang Seng 24,138.31 +242.21 +1.01% 
Straits Times 3,187.72 -7.01 -0.22%  

http://finance.yahoo.com/news/Mixed...1.html?x=0&sec=topStories&pos=2&asset=&ccode=

David K. Randall and Matthew Craft, AP Business Writers, On Monday April 25, 2011, 4:44 pm EDT 

NEW YORK (AP) -- Mixed corporate earnings reports weighed on stocks Monday.

Kimberly-Clark Corp., the maker of Kleenex and Huggies, dropped 2.7 percent after missing earnings estimates. The company also lowered its earnings forecast for the full year and said it plans to raise prices to offset higher costs.

Traders said rising commodity costs were making investors cautious.

"It's becoming harder to become overly exuberant over backwards-looking earnings when it's clear that consumers' pocketbooks are getting squeezed over higher gasoline costs," said Paul Zemsky, a market strategist at ING Investment Management. "Given that we're near the ... highs for the year, we're certainly not adding to our (stock) positions until we get a sense of what these oil prices mean to the consumer."

Johnson Controls Inc. fell 2.8 percent. The auto parts supplier said it expects revenue to drop by $500 million in the third quarter because of the earthquake in Japan.

The Dow Jones industrial average lost 26.11 points, or 0.2 percent, to close at 12,479.88. The Standard & Poor's 500 index lost 2.13, or 0.2 percent, to 1,335.25. The Nasdaq composite edged up 5.72 points, or 0.2 percent, to 2,825.88.

Worries about rising prices and a weak dollar helped push up precious metals. Silver futures rose $1.09 to settle at $47.15 an ounce. The price has risen 52 percent since the first of the year. Gold rose $5.30 to settle at $1,509.10 an ounce.

Monday was light on economic data. The Commerce Department reported that sales of new homes rose more than expected in March to 300,000. That's still less than half of the 700,000-a-year pace that economists consider healthy.

More than three shares rose for every four that fell on the New York Stock Exchange. Trading volume was 2.9 billion shares.

Ford Motor Co., Coca-Cola, and 3M Co. are among the companies reporting earnings Tuesday.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks jumped to their highest levels in nearly three years Tuesday thanks to signs that earnings are rising for U.S. companies and consumers are feeling more confident about the economy. The Russell 2000, the benchmark index of small companies, neared a record high.

The new highs continue a historic recovery in the stock market. Stock indexes have more than doubled since hitting a 12-year low in March, 2009. The fastest bull market since the 1950s has now erased most of the losses stemming from the financial crisis.

Investors who bought at the top of the market in 2007 have now lost 4.2 percent, including reinvested dividends. Analysts predict stocks will continue to rise if unemployment keeps falling and global demand leads to more profit growth.

The Standard and Poor's 500 index --the benchmark for most mutual funds --reached its highest level since June 2008. It gained 11.99 points, or 0.9 percent, to 1,347.24. It's still 16 percent below the record high of 1,565 it reached in October 2007.

The Dow Jones industrial average also marked a new high for the year, rising 115.49 points, or 0.9 percent, to 12,595.37. The Nasdaq composite rose 21.66 points, or 0.8 percent, to 2,847.54.

*The NYSE DOW NYSE DOW closed HIGHER +115.49 points +0.93% on Tuesday April 26*
Sym .......Last .......Change..........  
Dow 12,595.37 +115.49 +0.93% 
Nasdaq 2,847.54 +21.66 +0.77% 
S&P 500 1,347.24 +11.99 +0.90%  
30-yr Bond 4.3990% -0.0600 

NYSE Volume 4,434,332,000  (prior day 3,235,746,500)
Nasdaq Volume 2,079,483,500  (prior day 1,491,749,500)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,069.36 +51.06 +0.85% 
DAX 7,356.51 +61.02 +0.84% 
CAC 40 4,045.29 +23.41 +0.58% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,995.70 closed for  holdiday 
Shanghai Comp 2,939.18 -25.77 -0.87% 
Taiwan We... 8,948.14 -2.61 -0.03% 
Nikkei 225 9,558.69 -113.27 -1.17% 
Hang Seng 24,007.38 -130.93 -0.54% 
Straits Times 3,171.83 -15.89 -0.50%  

http://finance.yahoo.com/news/Earni...9.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Earnings drive stocks to new 2011 highs

Stocks push higher on stronger earnings; Ford reports best 1Q since 1998, 3M profit jumps *

Matthew Craft and David K. Randall, AP Business Writers, On Tuesday April 26, 2011, 5:09 pm 

NEW YORK (AP) -- Stocks jumped to their highest levels in nearly three years Tuesday thanks to signs that earnings are rising for U.S. companies and consumers are feeling more confident about the economy. The Russell 2000, the benchmark index of small companies, neared a record high.

The new highs continue a historic recovery in the stock market. Stock indexes have more than doubled since hitting a 12-year low in March, 2009. The fastest bull market since the 1950s has now erased most of the losses stemming from the financial crisis.

Investors who bought at the top of the market in 2007 have now lost 4.2 percent, including reinvested dividends. Analysts predict stocks will continue to rise if unemployment keeps falling and global demand leads to more profit growth.

The Standard and Poor's 500 index --the benchmark for most mutual funds --reached its highest level since June 2008. It gained 11.99 points, or 0.9 percent, to 1,347.24. It's still 16 percent below the record high of 1,565 it reached in October 2007.

The Dow Jones industrial average also marked a new high for the year, rising 115.49 points, or 0.9 percent, to 12,595.37. The Nasdaq composite rose 21.66 points, or 0.8 percent, to 2,847.54.

The Russell 2000 rose 1 percent to 853.04, near the record high of 855.77 that it reached in July 2007.

Better-than-expected earnings reports from companies ranging from airlines to office products manufacturers helped drive a broad rally that included all 10 company groups that make up the S&P index. Industrial companies gained nearly 2 percent, the most of any group.

Delta Air Lines Inc. jumped 11 percent after reporting a loss that was far smaller than investors had expected.

Cummins Inc. gained 8 percent after the engine maker raised its earnings forecast for the year because of strong demand. United Parcel Service Inc. rose 1 percent after raising its own earnings estimate for the year.

"What we're seeing now is a positive reinforcement of the fact that demand is rising around the world," said Quincy Krosby, chief market strategist at Prudential Financial. That's despite the fact that some companies say rising costs are hurting their profits, Krosby said.

Ford Motor Co. rose nearly 1 percent after the carmaker reported its best first quarter earnings since 1998. Ford beat Wall Street's earnings estimates with stronger sales of new vehicles. 3M Co., the maker of Post-Its and Scotch Tape, rose 2 percent after it raised its full-year earnings expectations. The company said quarterly profit jumped 16 percent from a year ago, beating analysts' estimates.

Tuesday's gains continued a strong first-quarter earnings season. Nearly 8 in 10 companies in the S&P index that have reported earnings have fared better than analysts were expecting, according to Jonathan Golub, the chief U.S. stock strategist at UBS.

Stocks also got a lift from a report on consumer confidence that showed that worries about rising prices and unemployment eased in April. Among the encouraging signs, those who said jobs are "hard to get" dropped, while those who expected higher incomes rose.

The market's continued rebound is crucial to luring nervous Americans back into investing in stocks, said Alan Gayle, senior investment strategist at RidgeWorth Investments in Richmond, Va.

Gayle said he talks to a lot of retail investors who were burned when markets dropped in 2000 and 2008 and remain wary of putting their savings into stocks.

"The stock market in the last 10 years has disappointed a lot of investors," Gayle said. "There are some lasting scars there."

The Federal Reserve began a two-day meeting on Tuesday. Economists expect the Fed will leave short-term interest rates unchanged and end its $600 billion bond-buying program in June as scheduled. The bond-buying effort has been credited with lifting financial markets since Fed Chairman Ben Bernanke first hinted at it last August.

Three stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 4.1 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks rose to another high for the year Wednesday after Federal Reserve Chairman Ben Bernanke said central bank officials expect the economy to continue recovering as the jobs market strengthens.

The Russell 2000, an index of small stocks, hit a record. The Standard & Poor's 500 index has now doubled from its lows reached during the financial crisis.

The Fed said it expects the economy to grow as much as 3.3 percent this year. That's below the Fed's previous forecast in January, but the Fed also said it's more optimistic about jobs. It now expects the unemployment rate to fall as low as 8.4 percent by the end of the year. The unemployment is currently at a two-year low of 8.8 percent.

Bernanke's comments came during his first news conference. He was speaking after Fed officials held a two-day policy meeting. The Fed also announced that its $600 billion bond-buying program would end as scheduled in June. The Fed repeated its promise to keep interest rates low for "an extended period."

The Dow Jones industrial average rose 95.59 points, or 0.8 percent, to close at 12,690.96. The Dow was already up before Bernanke's appearance and rose another 50 points after the Fed chairman spoke. The last time the Dow was this high was in May 2008.

The Standard & Poor's 500 rose 8.42, or 0.6 percent, to 1,355.66. That was its highest price since June 2008.

*The NYSE DOW NYSE DOW closed HIGHER +95.59 points +0.76% on Wednesday April 27*
Sym .......Last .......Change..........  
Dow 12,690.96 +95.59 +0.76% 
Nasdaq 2,869.88 +22.34 +0.78% 
S&P 500 1,355.66 +8.42 +0.62% 
30-yr Bond 4.4630% +0.0640  

NYSE Volume 4,554,347,000  (prior day 4,434,332,000)
Nasdaq Volume 2,097,381,000  (prior day 2,079,483,500)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,068.16 -1.20 -0.02%  
DAX 7,404.95 +48.44 +0.66% 
CAC 40 4,067.72 +22.43 +0.55%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,954.00 -41.70 -0.83% 
Shanghai Comp 2,925.53 -13.46 -0.46%  
Taiwan We... 9,049.25 +101.11 +1.13% 
Nikkei 225 9,691.84 +133.15 +1.39%  
Hang Seng 23,892.84 -114.54 -0.48%  
Straits Times 3,182.68 +10.85 +0.34%  

http://finance.yahoo.com/news/Stock...1.html?x=0&sec=topStories&pos=6&asset=&ccode=

*Stocks rise after Fed says recovery will continue

Stocks hit new '11 highs on Fed's optimism about the recovery; Russell 2000 hits a record* 

Chip Cutter, AP Business Writer, On Wednesday April 27, 2011, 5:42 pm EDT 

NEW YORK (AP) -- Stocks rose to another high for the year Wednesday after Federal Reserve Chairman Ben Bernanke said central bank officials expect the economy to continue recovering as the jobs market strengthens.

The Russell 2000, an index of small stocks, hit a record. The Standard & Poor's 500 index has now doubled from its lows reached during the financial crisis.

The Fed said it expects the economy to grow as much as 3.3 percent this year. That's below the Fed's previous forecast in January, but the Fed also said it's more optimistic about jobs. It now expects the unemployment rate to fall as low as 8.4 percent by the end of the year. The unemployment is currently at a two-year low of 8.8 percent.

Bernanke's comments came during his first news conference. He was speaking after Fed officials held a two-day policy meeting. The Fed also announced that its $600 billion bond-buying program would end as scheduled in June. The Fed repeated its promise to keep interest rates low for "an extended period."

The Dow Jones industrial average rose 95.59 points, or 0.8 percent, to close at 12,690.96. The Dow was already up before Bernanke's appearance and rose another 50 points after the Fed chairman spoke. The last time the Dow was this high was in May 2008.

The Standard & Poor's 500 rose 8.42, or 0.6 percent, to 1,355.66. That was its highest price since June 2008.

The index has now doubled from its closing level on March 9, 2009, when it hit a 12-year low during the financial crisis. It's still 13 percent below the record high of 1,565 it reached in October 2007.

The Nasdaq composite index rose 22.34, or 0.8 percent, to 2,869.88.

The Russell 2000 index, a benchmark for small stocks, surpassed its record high of 855.77 reached in July 2007. It closed up 5.27, or 0.6 percent, to 858.31.

The economy's rapid rebound from the recession has caused small stocks to surge. Companies in the S&P 500 index have record amounts of cash on their balance sheets, leading to the widespread belief that smaller companies are natural targets for corporate acquisitions.

"The fact is that until we go into a sustained soft patch in the economy, the small (companies) are going to continue to outperform," said Quincy Krosby, market strategist at Prudential Financial.

Gold prices rose after the Fed said it would keep interest rates near zero in order to stimulate the economy. That led traders to buy gold as a hedge against inflation and a weaker dollar, both of which can result from low interest rates. Gold for June delivery rose $13.60 to settle at $1,517.10 an ounce.

Bond prices were relatively unchanged after Bernanke's press conference. The yield on the 10-year Treasury note rose to 3.35 percent from 3.32 percent late Tuesday.

Earnings results were mixed. Boeing Co. rose less than 1 percent after reporting earnings that beat analyst expectations. The airplane maker and defense contractor also said it still expects to deliver its long delayed 787 aircraft in the third quarter.

DeVry Inc. rose 7 percent. The for-profit education company reported that its earnings rose 18 percent as its revenue rose.

Broadcom Corp. fell 12 percent a day after the chip maker issued a second-quarter revenue outlook that was below analyst estimates.

Specialty glass maker Corning Inc. rose more than 2 percent after the company's revenue surged on strong sales of glass for flat-screen televisions, computers and mobile devices.

Johnson & Johnson rose less than 1 percent after the health giant said it would buy medical device maker Synthes Inc. for $21.3 billion in one of the largest deals in the company's history.

Investors were encouraged after the Commerce Department reported that businesses increased their orders for long-lasting manufactured goods by 2.5 percent in March, a bigger increase than economists had predicted.

"The manufacturing sector remains the real bright spot of the economy," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners Inc.

Three stocks rose for every two that fell on the New York Stock Exchange. Volume was 4.2 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks closed at another 2011 high Thursday despite modest U.S. economic growth in the first quarter.

The economy grew at a 1.8 annual rate between January and March. That's the weakest rate since last spring. Higher oil prices cut into consumer spending and bad weather slowed down construction projects.

Stocks rose modestly as investors bet that the economy would grow at a faster annual rate once gasoline prices stabilized.

The S&P 500 rose 4.82 points, or 0.4 percent, to 1,360.48. The Dow Jones industrial average rose 72.35, or 0.6 percent, to 12,763.31. The Nasdaq composite gained 2.65, or 0.1 percent, to 2,872.53.

The Russell 2000 index rose again, a day after reaching a record high. The index of small companies rose 3.24, or 0.4 percent, to 861.55.

*The NYSE DOW NYSE DOW closed HIGHER +72.35 points +0.57% on Thursday April 28*
Sym .......Last .......Change.......... 
Dow 12,763.31 +72.35 +0.57% 
Nasdaq 2,872.53 +2.65 +0.09% 
S&P 500 1,360.48 +4.82 +0.36% 
30-yr Bond 4.4240% -0.0390  

NYSE Volume 4,548,285,500  (prior day 4,554,347,000) 
Nasdaq Volume 2,011,462,625  (prior day  2,097,381,000)

*Europe*
Symbol... ......Last .....Change.......  
FTSE 100 6,069.90 +1.74 +0.03% 
DAX 7,475.22 +70.27 +0.95% 
CAC 40 4,104.90 +37.18 +0.91%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,952.30 -1.70 -0.03% 
Shanghai Comp 2,887.67 -37.74 -1.29% 
Taiwan We... 9,040.77 -8.48  -0.09% 
Nikkei 225 9,849.74 +157.90 +1.63%  
Hang Seng 23,805.63 -87.21 -0.37%  
Straits Times 3,184.99 +2.31 +0.07% 

http://finance.yahoo.com/news/Stock...5.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Stocks rise despite weaker GDP report

Stocks reach 2011 highs despite signs that economic growth slowed in the first quarter *

Chip Cutter and David K. Randall, AP Business Writers, On Thursday April 28, 2011, 4:55 pm EDT 

NEW YORK (AP) -- Stocks closed at another 2011 high Thursday despite modest U.S. economic growth in the first quarter.

The economy grew at a 1.8 annual rate between January and March. That's the weakest rate since last spring. Higher oil prices cut into consumer spending and bad weather slowed down construction projects.

Stocks rose modestly as investors bet that the economy would grow at a faster annual rate once gasoline prices stabilized.

The S&P 500 rose 4.82 points, or 0.4 percent, to 1,360.48. The Dow Jones industrial average rose 72.35, or 0.6 percent, to 12,763.31. The Nasdaq composite gained 2.65, or 0.1 percent, to 2,872.53.

The Russell 2000 index rose again, a day after reaching a record high. The index of small companies rose 3.24, or 0.4 percent, to 861.55.

Corporate earnings were mixed. Procter & Gamble Co. rose nearly 1 percent after the maker of Tide detergent and Pampers diapers reported higher earnings but cut its forecast for the year due to rising costs for raw materials.

Sprint Nextel Corp. rose nearly 7 percent. The company added twice as many wireless subscribers in the first quarter as analysts had expected.

Viacom Inc. rose 3.6 percent. The owner of MTV and Paramount Pictures reported that its income grew 53 percent thanks to popular shows such as "Jersey Shore" and an improved advertising market.

Exxon Mobil Corp. fell 0.5 percent even after the oil giant reported its best quarterly earnings since 2008. The world's largest publicly traded company earned $10.65 billion in the first quarter, up from $6.3 billion in the same period last year.

Steve Quirk, senior vice president of the trader group at TD Ameritrade, said investors have come to expect strong earnings from Exxon, so even a solid quarter doesn't necessarily lift its stock price. "The anticipation is so high right now," he said.

More people applied for unemployment benefits for the first time last week. The increase, the second in three weeks, suggests that the job market remains sluggish.

The weaker economic reports helped push bond prices higher and yields lower. The yield on the 10-year Treasury note fell to 3.32 percent from 3.35 percent late Wednesday.

Stock indexes hit 2011 highs on Wednesday after the Federal Reserve said it would keep interest rates low.

Two stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 4.2 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Caterpillar drove the Dow Jones industrial average higher Friday after the company reported a huge gain in first-quarter earnings.

The world's largest maker of mining and construction equipment rose 2.5 percent after its earnings increased more than five-fold. The company also raised its sales and profit forecast for the year.

The Dow added 4 percent in April, its best month since December.

The Dow rose 47.23 points Friday, or 0.4 percent, to close at 12,810.54. Caterpillar accounted for 21 points of those gains. The company's stock has soared over the past year on booming demand for its products.

"The industrial sector and the manufacturing sector of this country are much stronger than many investors have perceived," said Rob Lutts, president and chief investment officer of Cabot Money Management.

The Standard & Poor's 500 index rose 3.13 points, or 0.2 percent, to close at 1,363.61. The index gained 2.8 percent in April.

The Nasdaq composite added 1.01 point to 2,873.54. It rose 3.3 percent for the month.

Both the Nasdaq and the S&P 500 had their best month since February.

*The NYSE DOW NYSE DOW closed HIGHER +47.23 points +0.37% on Friday April 29*
Sym .......Last .......Change.......... 
Dow 12,810.54 +47.23 +0.37% 
Nasdaq 2,873.54 +1.01 +0.04% 
S&P 500 1,363.61 +3.13 +0.23%  
30-yr Bond 4.4060% -0.0180  

NYSE Volume 4,064,830,750  (prior day 4,548,285,500) 
Nasdaq Volume 2,749,611,250  (prior day 2,011,462,625)


*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,069.90 +1.74 +0.03% 
DAX 7,514.46 +39.24 +0.52% 
CAC 40 4,106.92 +2.02 +0.05%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,899.00 -53.30 -1.08%  
Shanghai Comp 2,912.14 +25.09 +0.87% 
Taiwan We... 9,007.87 -32.90 -0.36%  
Nikkei 225 9,849.74 +157.90 +1.63%  
Hang Seng 23,720.81 -84.82 -0.36% 
Straits Times 3,179.86 -5.13 -0.16% 

http://finance.yahoo.com/news/Stron...3.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Strong earnings from Caterpillar drive Dow higher

Dow Jones average rises after strong earnings from Caterpillar; Goodyear pushes S&P higher *

Chip Cutter and Matthew Craft, AP Business Writers, On Friday April 29, 2011, 4:49 pm EDT 

NEW YORK (AP) -- Caterpillar drove the Dow Jones industrial average higher Friday after the company reported a huge gain in first-quarter earnings.

The world's largest maker of mining and construction equipment rose 2.5 percent after its earnings increased more than five-fold. The company also raised its sales and profit forecast for the year.

The Dow added 4 percent in April, its best month since December.

The Dow rose 47.23 points Friday, or 0.4 percent, to close at 12,810.54. Caterpillar accounted for 21 points of those gains. The company's stock has soared over the past year on booming demand for its products.

"The industrial sector and the manufacturing sector of this country are much stronger than many investors have perceived," said Rob Lutts, president and chief investment officer of Cabot Money Management.

The Standard & Poor's 500 index rose 3.13 points, or 0.2 percent, to close at 1,363.61. The index gained 2.8 percent in April.

The Nasdaq composite added 1.01 point to 2,873.54. It rose 3.3 percent for the month.

Both the Nasdaq and the S&P 500 had their best month since February.

Strong corporate earnings pushed major stock market indexes to 2011 highs in the last week of the month. On Wednesday, the S&P 500 doubled from its 12-year low reached on March 9, 2009 after the financial crisis. The Nasdaq is at its highest level since 2000.

The Russell 2000 index of small stocks also hit a record high on Wednesday after the Fed pledged to keep short-term interest rates at record lows. That motivated investors to continue buying risky investments such as small stocks.

The Russell has soared 77 percent over the past two years. Small-company stocks tend to rise more quickly than the overall market as the economy emerges from a recession. Investors also see them as likely takeover targets for larger companies that are flush with cash. The Russell rose 3.74 points, or 0.4 percent, to 865.29 Friday.

Goodyear Tire & Rubber Co. rose 12 percent, the most of any company in the Standard & Poor's 500 index, after it set a company sales record and reversed its loss from the first quarter of last year.

Coinstar Inc. rose 5 percent after the owner of Redbox DVD rental kiosks posted a 32 percent increase in its net income.

Research In Motion Ltd. fell 14 percent after the maker of the BlackBerry slashed its earnings and sales forecasts because of weak phone sales.

The dollar fell to a three-year low against an index of six major currencies. It's down 7.6 percent this year.

The dollar has been sinking against other currencies that have higher interest rates than the U.S. Low interest rates in the U.S. also encourage investors to borrow in dollars to buy investments denominated in other currencies, which also pushes the dollar lower.

Two stocks rose for every one that fell on the New York Stock Exchange. Trading volume was 3.7 billion shares.

8190


----------



## bigdog

Source: http://finance.yahoo.com

The Bin Laden rally lasted all of three hours.

Stocks began climbing Monday morning after news of the death of the world's most wanted terrorist overnight. Strong earnings reports from Humana Inc. and other companies also pushed them higher.

But by lunchtime, the gains were gone. The major indexes wavered throughout the remainder of the day and closed slightly lower.

"As great as the news is, it doesn't have much to do with earnings or the economy," said Jack Ablin, chief investment officer at Harris Private Bank.

The Dow Jones industrial average fell 3.18 points to close at 12,807.36. The average of 30 stocks had been up as many as 65 points in morning trading.

President Barack Obama said late Sunday that bin Laden, the al-Qaida chief who masterminded the Sept. 11, 2001 attacks, had been killed by U.S. forces in Pakistan. The news lifted investors' mood when the market opened.

*The NYSE DOW NYSE DOW closed LOWER -3.18 points  -0.02% on Monday May 2*
Sym .......Last .......Change.......... 
Dow 12,807.36 -3.18 -0.02% 
Nasdaq 2,864.08 -9.46 -0.33% 
S&P 500 1,361.22 -2.39 -0.18% 
30-yr Bond 4.3930% -0.0130  

NYSE Volume 4,409,112,000  (prior day 4,064,830,750) 
Nasdaq Volume 2,079,603,500 (prior day  2,749,611,250) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,069.90 closed for holiday 
 DAX 7,527.64 +13.18 +0.18% 
CAC 40 4,108.77 +1.85 +0.05%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,896.20 -2.80 -0.06%  
Shanghai Comp closed for holiday 
Taiwan We... 9,007.87 closed for holiday 
Nikkei 225 10,004.20 +154.46 +1.57%  
Hang Seng 23,720.81 closed for holiday 
Straits Times 3,179.86 closed for holiday 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks end lower despite bin Laden death, earnings

Stocks lose steam even after bin Laden's death, strong earnings, big corporate drug deal *

Chip Cutter and Matthew Craft, AP Business Writers, On Monday May 2, 2011, 4:59 pm EDT

NEW YORK (AP) -- The Bin Laden rally lasted all of three hours.

Stocks began climbing Monday morning after news of the death of the world's most wanted terrorist overnight. Strong earnings reports from Humana Inc. and other companies also pushed them higher.

But by lunchtime, the gains were gone. The major indexes wavered throughout the remainder of the day and closed slightly lower.

"As great as the news is, it doesn't have much to do with earnings or the economy," said Jack Ablin, chief investment officer at Harris Private Bank.

The Dow Jones industrial average fell 3.18 points to close at 12,807.36. The average of 30 stocks had been up as many as 65 points in morning trading.

President Barack Obama said late Sunday that bin Laden, the al-Qaida chief who masterminded the Sept. 11, 2001 attacks, had been killed by U.S. forces in Pakistan. The news lifted investors' mood when the market opened.

"It's a feel-good item," said Howard Silverblatt, senior index analyst at Standard & Poor's. "It gives closure to a lot people."

But Silverblatt expected the impact on markets to be temporary once traders shifted their focus to corporate profits and economic news.

Strong earnings over the last two weeks helped the Standard & Poor's 500 index reach its highest levels since the financial crisis on Friday, when it closed at 1363.61.

The S&P 500 index fell 2.39 points, or 0.2 percent, to 1,361.22. It had been up 7 points Monday morning. The Nasdaq composite fell 9.46 points, or 0.3 percent, to 2,864.08.

The dollar dropped against a basket of six major currencies -- the euro, Japanese yen, British pound, Canadian dollar, Swiss franc and Swedish krona -- for the eighth day straight. The dollar index sank to 72.72, its lowest point since July 2008.

Whole Foods Market Inc. fell 5 percent, making it the worst-performing stock in the S&P 500. A Jefferies analyst downgraded the company and said sales could stagnate as shoppers feel the pinch of higher gas prices.

Dish Network Corp., Chrysler Group LLC and Humana Inc. all reported strong earnings. Dish Network's first-quarter net income more than doubled, in part, because of a patent settlement with TiVo Inc. Its stock rose 16 percent.

Humana's profit rose 22 percent. The company benefited from more people enrolling in its Medicare plans. Its stock gained 0.5 percent.

The privately-held Chrysler reported its first profit since leaving bankruptcy two years ago thanks to higher sales.

Israeli drug maker Teva Pharmaceutical Industries Ltd. said it would buy Cephalon Inc. for $81.50 per share, or $6.8 billion. Cephalon's key drugs include the sleep disorder treatment Provigil and the cancer drug Treanda. Cephalon's shares rose 4 percent.

The Institute of Supply Management reported that manufacturing activity increased for the 21st month in April, though at a slightly slower pace than the month before. This was expected by economists. The Commerce Department also reported that builders started work on more projects in March after three straight monthly declines in construction spending.

Roughly three shares fell for every two that rose on the New York Stock Exchange. Trading volume was 4 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

After two weeks of strong earnings pumped up the markets, weak results from Pfizer and others deflated a broad earnings rally, at least for today.

The world's largest drug maker posted lower than expected quarterly results Tuesday, slowing a parade of positive corporate reports. Clorox, Molson Coors Brewing Co., and Beazer Homes also slipped after announcing weaker earnings.

That sent broad indexes such as the Standard & Poor's 500 lower. The Russell 2000, an index of small companies, lost 1.3 percent.

The S&P 500 fell 4.60 points, or 0.3 percent, to 1,356.62. The Nasdaq composite fell 22.46, or 0.8 percent, at 2,841.62. The Dow Jones industrial average inched out a gain of 0.15 percent to close at 12,807.51.

*The NYSE DOW NYSE DOW closed HIGHER +0.15 +0.00% on Tuesday May 3*
Sym .......Last .......Change.......... 
Dow 12,807.51 +0.15 +0.00%  
Nasdaq 2,841.62 -20.22 -0.71% 
S&P 500 1,356.62 -4.60 -0.34% 
30-yr Bond 4.3590% -0.0340  

NYSE Volume 5,066,996,500  (prior day 4,409,112,000)
Nasdaq Volume 2,234,103,750   (prior day 2,079,603,500)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,082.88 +12.98 +0.21%  
DAX 7,500.70 -26.94 -0.36% 
CAC 40 4,096.84 -11.93 -0.29%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,854.70 -41.50 -0.85%  
Shanghai Comp 2,932.19 +20.68 +0.71%  
Taiwan We... 8,946.08 -61.79 -0.69% 
Nikkei 225 10,004.20 +154.46 +1.57%  
Hang Seng 23,633.25 -87.56 -0.37% 
Straits Times 3,153.57 -26.29 -0.83%  

http://finance.yahoo.com/news/Stock...et=&ccode=&sec=topStories&pos=4&asset=&ccode=

*Stocks wobble as earnings rally slows

Stocks mixed as earnings season loses its luster; Pfizer, Clorox report weak results *

Chip Cutter and David K. Randall, AP Business Writers, On Tuesday May 3, 2011, 5:05 pm EDT 

NEW YORK (AP) -- After two weeks of strong earnings pumped up the markets, weak results from Pfizer and others deflated a broad earnings rally, at least for today.

The world's largest drug maker posted lower than expected quarterly results Tuesday, slowing a parade of positive corporate reports. Clorox, Molson Coors Brewing Co., and Beazer Homes also slipped after announcing weaker earnings.

That sent broad indexes such as the Standard & Poor's 500 lower. The Russell 2000, an index of small companies, lost 1.3 percent.

The S&P 500 fell 4.60 points, or 0.3 percent, to 1,356.62. The Nasdaq composite fell 22.46, or 0.8 percent, at 2,841.62. The Dow Jones industrial average inched out a gain of 0.15 percent to close at 12,807.51.

Randy Bateman, chief investment officer and president of Huntington Asset Advisors, said some kind of weakness was natural following a mostly positive earnings season. About 65 percent of companies in the S&P 500 have reported their results, and earnings are up about 21 percent from the same period last year, according to FactSet.

"We've had such a strong, hard run for the entirety of the year in the face of an awful lot of adversity," Bateman said. "Investors are going to sit back a little bit and say, `How much more good news is out there?'"

Pfizer Inc. fared worst in the Dow Jones industrial average Tuesday, losing nearly 3 percent after the company reduced its revenue forecast for 2011.

Clorox Co. fell 3.6 percent and Molson Coors Brewing Co. fell nearly 6 percent after each reported lower net income compared to the same period last year. The consumer goods maker and beverage company both blamed higher costs for raw materials for the decline.

Beazer Homes USA Inc. slipped 5 percent. The homebuilder reported a larger-than-expected loss because orders for new homes fell, reflecting continued weakness in the housing industry.

The losses came after a string of stronger than expected earnings reports pushed the broad stock market up 2 percent this quarter. The Dow Jones industrial average gained 2.4 percent last week alone.

"You get a nice move like that and you're bound to have a pullback," said Bill Stone, chief investment strategist at PNC Asset Management. Investors sold stocks based on their perceived riskiness, he said, with the stable companies in the Dow losing the least and smaller, riskier companies in the Russell 2000 declining the most.

Not every company had poor results. MetroPCS Communications Inc. rose 10 percent, the most of any company in the S&P 500, after it added a record number of subscribers in the first quarter. The company sells low-cost phone service, primarily in cities.

General Motors rose 2.5 percent after its U.S. car and truck sales jumped 26 percent in April. Higher gas prices motivated consumers to buy more fuel-efficient vehicles.

Bond prices rose slightly. The yield on the 10-year Treasury note dipped to 3.26 from 3.28 percent from late Monday.

Two stocks fell for every one that rose on the New York Stock Exchange. Consolidated volume came to 4.5 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Serious doubts about the health of the job market and the pace of the economic recovery put markets on edge Wednesday.

Stocks fell after payroll processor ADP said companies added 179,000 new jobs in April, far fewer than economists had expected. That raised worries about what the government's monthly jobs report for April will reveal when it's released Friday.

In a separate report, the Institute for Supply Management said its service sector index rose at the slowest pace in 8 months in April, as many companies express concerns about higher food and gas prices.

The U.S. service industry includes nearly everything that isn't manufacturing -- from hospitals and software developers to financial firms and mining companies. It employs about 90 percent of the U.S. work force, so signs of a slowdown in the service sector index have implications for the overall economy

*The NYSE DOW NYSE DOW closed LOWER -83.93 points -0.66% on Wednesday May 4*
Sym .......Last .......Change.......... 
Dow 12,723.58 -83.93 -0.66% 
Nasdaq 2,828.23 -13.39 -0.47% 
S&P 500 1,347.32 -9.30 -0.69% 
30-yr Bond 4.3290% -0.0300 

NYSE Volume 5,275,492,500 (prior day  5,066,996,500)
Nasdaq Volume 2,250,614,250  (prior day 2,234,103,750)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,984.07 -98.81 -1.62% 
DAX 7,373.93 -126.77 -1.69% 
CAC 40 4,043.13 -53.71 -1.31% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,813.80 -40.90 -0.84% 
Shanghai Comp 2,866.93 -65.26 -2.23%  
Taiwan We... 8,947.35 +1.27 +0.01%  
Nikkei 225 10,004.20 +154.46 +1.57%  
Hang Seng 23,323.91 -309.34 -1.31% 
Straits Times 3,113.76 -39.81 -1.26% 

http://finance.yahoo.com/news/Stocks-sink-after-weak-data-apf-1896629565.html?x=0

*Stocks sink after weak data on jobs

Dow industrial average falls after weak jobs report, signs of slowdown in service industry *

Chip Cutter and Matthew Craft, AP Business Writers, On Wednesday May 4, 2011, 4:51 pm EDT 

NEW YORK (AP) -- Serious doubts about the health of the job market and the pace of the economic recovery put markets on edge Wednesday.

Stocks fell after payroll processor ADP said companies added 179,000 new jobs in April, far fewer than economists had expected. That raised worries about what the government's monthly jobs report for April will reveal when it's released Friday.

In a separate report, the Institute for Supply Management said its service sector index rose at the slowest pace in 8 months in April, as many companies express concerns about higher food and gas prices.

The U.S. service industry includes nearly everything that isn't manufacturing -- from hospitals and software developers to financial firms and mining companies. It employs about 90 percent of the U.S. work force, so signs of a slowdown in the service sector index have implications for the overall economy.

"I think we're getting indications that (the U.S. economy) is not that healthy," said Kim Caughey Forrest, equity research analyst at Fort Pitt Capital Group.

Even so, the broader markets are up between 6 percent and 10 percent for the year.

Stronger-than-expected earnings reports led to a market rally that started in mid-April. Now that earnings season is coming to an end, job reports are most likely to sway markets over the next two days. The Labor Department will release its weekly look at first-time applications for unemployment benefits Thursday morning, followed by the closely watched monthly labor market report on Friday.

Economists forecast that employers added 185,000 workers in April. The unemployment rate is expected to remain unchanged at 8.8 percent. If the numbers fall short, experts say the broader markets could fall further.

The Dow Jones industrial average fell 83.93 points, or 0.7 percent, to close at 12,723.58 on Wednesday. The average of 30 large companies is still up 10 percent for the year.

The Standard & Poor's 500 index fell 9.30 points, or 0.7 percent, to 1,347.32. It remains up 7 percent for the year.

The Nasdaq composite index fell 13.39, or 0.5 percent, to 2,828.23. It's up 6.6 percent this year.

Signs that the economic recovery is slowing also dragged down commodity prices. Silver fell for the third day straight, losing 7.5 percent to settle at $39.39 an ounce. Crude oil slipped 1.6 percent to $109.24 a barrel.

And falling prices for oil and metals hurt the energy and materials companies whose fortunes depend on them. Mining giant Freeport-McMoRan Copper & Gold Inc. lost 3.9 percent. Occidental Petroleum Corp. lost 2.5 percent.

Strong earnings results from Apple, Intel and other companies have sent all three indexes to 2011 highs over the past two weeks. But some of that excitement is now fading, said Sam Stovall, chief investment strategist at Standard & Poor's.

"In a sense, the market is already in digestion mode," Stovall said. "The earnings have already come out, they were so much better than expected; much of that has already been factored into share prices."

Earnings results were mixed on Wednesday. Kellogg Co. said its net income fell 12 percent as the world's biggest cereal maker dealt with higher costs. The results missed analysts' expectations. Kellogg's stock fell 1.2 percent.

Time Warner, the owner of Warner Bros. and HBO, said its first-quarter earnings fell 10 percent because of a lack of hit movies in the period. Advertising revenue rebounded, but its shares still fell 3.3 percent.

AOL's net income dropped sharply as the Internet company reported lower advertising and subscription revenue. Its stock fell 1.3 percent.

Bond prices rose, sending yields lower. The yield on the 10-year Treasury note dropped to 3.22 percent from 3.26 percent late Tuesday.

More than two shares rose for every one that fell on the New York Stock Exchange. Trading volume was 4.7 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

A free-fall in commodities and an unexpected jump in unemployment claims put financial markets on edge Thursday, dragging the stock market lower.

Oil prices fell nearly $10, or 9 percent, to close below $100 a barrel for the first time since mid-March. Silver lost 8 percent to settle at $34.41; the metal already had its biggest one-day drop in three decades on Tuesday and is nearly $16 off its high of $50 reached last week. And gold fell 2.3 percent to $1,474.90 an ounce.

Commodities like oil and cotton had risen by more than 25 percent over the past year. Some, like silver, remain up nearly 100 percent over this time last year, despite Thursday's decline. Thursday's pullback indicated that some speculators were locking in their gains and that other investors were protecting profits because of concerns that Friday's jobs reports may be worse than originally thought, say experts. That could lead to weaker demand from consumers.

"Speculators are unwinding their positions to take a profit," said Peter Fusaro, the chairman of Global Change Associates, an energy trading consultant in New York.

Stock indexes fell after the Labor Department said that first-time claims for unemployment benefits rose to 474,000 last week, the highest level in eight months. Forecasters didn't see it coming. Economists had expected claims would drop to 410,000.

The Dow Jones industrial average lost 139.41 points, or 1.1 percent, to 12,584.17. The S&P 500 dropped 12.22, or 0.9 percent, to 1,335.10. The Nasdaq composite fell 13.51, or 0.5 percent, to 2,814.72.

*The NYSE DOW NYSE DOW closed LOWER -139.41 points -1.10%  on Thursday May 5*
Sym .......Last .......Change.......... 
Dow 12,584.17 -139.41 -1.10% 
Nasdaq 2,814.72 -13.51 -0.48% 
S&P 500 1,335.10 -12.22 -0.91% 
30-yr Bond 4.2810% -0.0480 

NYSE Volume 5,510,796,500  (prior day 5,275,492,500) 
Nasdaq Volume 2,241,177,750 (prior 2,250,614,250) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,919.98 -64.09 -1.07%  
DAX 7,376.96 +3.03 +0.04%  
CAC 40 4,004.87 -38.26 -0.95%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,828.90 +15.10 +0.31% 
Shanghai Comp 2,873.38 +7.36 +0.26% 
Taiwan We... 9,018.61 +71.26 +0.80% 
Nikkei 225 10,004.20 +154.46 +1.57%  
Hang Seng 23,259.41 -55.83 -0.24% 
Straits Times 3,109.85 -3.91 -0.13%  

http://finance.yahoo.com/news/Commo...3.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Commodities fall puts financial markets on edge

Commodities fall sharply and stocks continue slide as unemployment claims reach 8-month high *

Matthew Craft and David K. Randall, AP Business Writers, On Thursday May 5, 2011, 5:07 pm 

NEW YORK (AP) -- A free-fall in commodities and an unexpected jump in unemployment claims put financial markets on edge Thursday, dragging the stock market lower.

Oil prices fell nearly $10, or 9 percent, to close below $100 a barrel for the first time since mid-March. Silver lost 8 percent to settle at $34.41; the metal already had its biggest one-day drop in three decades on Tuesday and is nearly $16 off its high of $50 reached last week. And gold fell 2.3 percent to $1,474.90 an ounce.

Commodities like oil and cotton had risen by more than 25 percent over the past year. Some, like silver, remain up nearly 100 percent over this time last year, despite Thursday's decline. Thursday's pullback indicated that some speculators were locking in their gains and that other investors were protecting profits because of concerns that Friday's jobs reports may be worse than originally thought, say experts. That could lead to weaker demand from consumers.

"Speculators are unwinding their positions to take a profit," said Peter Fusaro, the chairman of Global Change Associates, an energy trading consultant in New York.

Stock indexes fell after the Labor Department said that first-time claims for unemployment benefits rose to 474,000 last week, the highest level in eight months. Forecasters didn't see it coming. Economists had expected claims would drop to 410,000.

The Dow Jones industrial average lost 139.41 points, or 1.1 percent, to 12,584.17. The S&P 500 dropped 12.22, or 0.9 percent, to 1,335.10. The Nasdaq composite fell 13.51, or 0.5 percent, to 2,814.72.

Government bonds rose, pushing long-term interest rates to their lowest levels this year. The yield on the 10-year Treasury note sank to 3.16 percent.

Applications for unemployment benefits have increased in three of the previous four weeks. The jump in claims, along with other signs the economic recovery is losing strength, have raised concerns about what the government's monthly jobs report for April will reveal when it's released on Friday.

Economists forecast that employers added 185,000 workers in April. The unemployment rate is expected to remain unchanged at 8.8 percent.

Meanwhile, gas is nearing $4 per gallon and major packaged goods companies have implemented price increases on every day purchases, leading some analysts to worry that consumers will cut back on spending.

Prior to Wednesday, rising earnings had been driving stocks up in recent weeks. But even strong results reported Thursday by several large companies did not outweigh concerns about the economic recovery.

General Motors Co. was among the companies reporting higher profits Thursday. GM said its earnings more than tripled on stronger sales in the U.S. and China. Despite the results, GM fell 3 percent.

Other companies that reported strong earnings rose. Whole Foods Market Inc. gained 0.4 percent after its quarterly report topped Wall Street's estimates. Estee Lauder Cos. gained 1.2 percent after it said earnings doubled on stronger sales.

Despite losses over the last two days, the broader markets are up -- the S&P, for one, is up 15 percent, not including dividends -- in the year since the "flash crash" led many investors to flee the market.

Friday marks the one-year anniversary of the "flash crash" when the Dow sank nearly 1,000 points in less than a half hour. Some stocks lost a third of their value in four minutes.

The market regained most of its losses by the end of the day, but the wild ride left a mark. Fund managers say the "flash crash" made everyday investors, still wary after the financial crisis, more reluctant to trust their savings to the stock market. They began pulling cash out of mutual funds that invest in stocks and favoring bond funds instead.

A pair of economic reports pushed stocks lower Wednesday. Payroll processor ADP said companies added fewer jobs in April than economists had expected. In a separate report, the Institute for Supply Management said its service sector index rose at the slowest pace in 8 months in April.

Two stocks fell for every one that rose on the New York Stock Exchange Thursday. Consolidated volume came to 4.8 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

The biggest corporate hiring spree in five years ended a weeklong slide in the stock market.

The Labor Department reported Friday that private employers hired 268,000 people last month, the most since February 2006. Taking into account job cuts of government workers, the economy added a total of 244,000 jobs overall last month, well above the 185,000 jobs that analysts had predicted.

It was the third straight month with an increase of more than 200,000 jobs.

The unemployment rate rose, however, to 9.0 percent from 8.8 percent in part because more people who resumed looking for work.

The news on job growth helped lift the dollar, nudged up oil prices and reversed a four-day slump for stocks.

"Everyone was a bit surprised by the jobs number," said Frank Fantozzi, the chief executive of Planned Financial Services, a Cleveland, Ohio-based firm. "It's a good indication for the markets that we are still in the growth stage."

The Dow Jones industrial average gained 54.57 points, or 0.4 percent, to close at 12,638.74. The Standard & Poor's 500 index rose 5.10, or 0.4 percent, to 1,340.20. The Nasdaq composite rose 12.84, or 0.5 percent, to 2,827.56.

*The NYSE DOW NYSE DOW closed HIGHER +54.57 points +0.43%  on Friday May 6*
Sym .......Last .......Change.......... 
Dow 12,638.74 +54.57 +0.43% 
Nasdaq 2,827.56 +12.84 +0.46% 
S&P 500 1,340.20 +5.10 +0.38% 
30-yr Bond 4.2950% +0.0140 

NYSE Volume 4,951,299,000  (prior day 5,510,796,500)
Nasdaq Volume 2,054,519,750 (prior  2,241,177,750) 

*Europe*
Symbol... ......Last .....Change.......  
FTSE 100 5,976.77 +56.79 +0.96% 
DAX 7,492.25 +115.29 +1.56% 
CAC 40 4,058.01 +53.14 +1.33% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,816.10 -12.80 -0.27% 
Shanghai Comp 2,864.15 -8.25 -0.29% 
Taiwan We... 8,977.23 -41.38 -0.46% 
Nikkei 225 9,859.20 -145.00 -1.45% 
Hang Seng 23,159.14 -102.47 -0.44% 
Straits Times 3,103.80 -6.05 -0.19% 

http://finance.yahoo.com/news/Stocks-rally-as-hiring-spree-apf-824926537.html?x=0

*Stocks rally as hiring spree surprises Wall Street

Stocks reverse weeklong slump after report shows job growth well above expectations *

Matthew Craft and David K. Randall, AP Business Writers, On Friday May 6, 2011, 4:43 pm EDT 

NEW YORK (AP) -- The biggest corporate hiring spree in five years ended a weeklong slide in the stock market.

The Labor Department reported Friday that private employers hired 268,000 people last month, the most since February 2006. Taking into account job cuts of government workers, the economy added a total of 244,000 jobs overall last month, well above the 185,000 jobs that analysts had predicted.

It was the third straight month with an increase of more than 200,000 jobs.

The unemployment rate rose, however, to 9.0 percent from 8.8 percent in part because more people who resumed looking for work.

The news on job growth helped lift the dollar, nudged up oil prices and reversed a four-day slump for stocks.

"Everyone was a bit surprised by the jobs number," said Frank Fantozzi, the chief executive of Planned Financial Services, a Cleveland, Ohio-based firm. "It's a good indication for the markets that we are still in the growth stage."

The Dow Jones industrial average gained 54.57 points, or 0.4 percent, to close at 12,638.74. The Standard & Poor's 500 index rose 5.10, or 0.4 percent, to 1,340.20. The Nasdaq composite rose 12.84, or 0.5 percent, to 2,827.56.

Industrials companies that benefit from global building and expansion projects led the market following the jobs report. Caterpillar Inc. rose nearly 1 percent. Boeing Co. rose 1.1 percent.

But Friday's bounce failed to make up for losses earlier this week, when fears of an economic slowdown and weaker-than-expected earnings dragged down the major stock indexes. All three ended the week down more than 1 percent. The Russell 2000, an index of small companies that reached record highs just a week earlier, ended the week down 3.7%.

The higher jobs number helped stem a sell-off in commodities brought on by fears that the economy was sputtering. Regular investors and speculators had begun to flee commodities in an effort to lock in profits in case the economy slowed even further.

"The jobs report put an end to the idea that growth appeared to be weakening, which is what really fueled most of the declines in commodities this week," said Jeffery Kleintop, the chief strategist at LPL Financial.

The dollar also got a lift. An index that measures the dollar against six major currencies gained 1 percent.

Financial markets are markedly different from this time last year. Friday marks the one-year anniversary of the "Flash Crash." Stocks tumbled that day when one large trade overwhelmed the market's computer servers and sent prices into a tailspin. Though stock prices made up most of their losses that day, the sudden drop fueled skepticism that stocks were a safe investment. That led many investors to pull money out of the stock market.

Two shares rose for every one that fell on the New York Stock Exchange. Trading volume was 4.4 billion shares

8930


----------



## bigdog

Source: http://finance.yahoo.com


NEW YORK (AP) -- Commodity prices recovered some of last week's losses Monday, helping to lift the stocks of energy and materials companies. The broader market also rose despite new worries about Greece's debt problems.

Oil prices once again moved above $100 a barrel and pushed energy stocks higher. Marathon Oil Corp. rose 5.3 percent. Baker Hughes Inc., which helps companies drill for oil and gas, gained 3.4 percent. Energy companies within the S&P 500 rose nearly 2 percent, the most among the 10 industries in the index.

The S&P 500 added 6.09 points, or 0.5 percent, to close at 1,346.29. The Dow Jones industrial average gained 45.94 points, or 0.4 percent, to 12,684.68. The Nasdaq composite index rose 15.69 points, or 0.6 percent, to 2,843.25.

The rise in commodity prices helped other industries as well. Producers of metals and other materials rose 1.5 percent, second best among the S&P 500 groups, thanks to a 5 percent increase in silver prices and a 3 percent increase in corn. Metals and other commodities suffered steep losses last week, when silver tumbled 27 percent and oil sank 15 percent because of fears of weaker global demand and higher margin requirements that were meant to lower the influence of speculators whose strategy of buying on margin is considered to be a reason why commodities have risen so steeply over the last year.

*The NYSE DOW NYSE DOW closed HIGHER +45.94 +0.36% on Monday May 9*
Sym .......Last .......Change.......... 
Dow 12,684.68 +45.94 +0.36% 
Nasdaq 2,843.25 +15.69 +0.55% 
S&P 500 1,346.29 +6.09 +0.45% 
30-yr Bond 4.3010% +0.0060 

NYSE Volume 3,386,336,750  (prior day 4,951,299,000)
Nasdaq Volume 1,656,821,625  (prior 2,054,519,750) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,942.69 -34.08 -0.57% 
DAX 7,410.52 -81.73 -1.09% 
CAC 40 4,007.26 -50.75 -1.25% 


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,831.70 +15.60 +0.32% 
Shanghai Comp 2,873.03 +9.14 +0.32% 
Taiwan We... 9,035.48 +58.25 +0.65%  
Nikkei 225 9,794.38 -64.82 -0.66%  
Hang Seng 23,336.00 +176.86 +0.76% 
Straits Times 3,136.94 +37.42 +1.21%   

http://finance.yahoo.com/news/Energ...9.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Energy, metals stocks rise with commodity prices

Rising commodities lift energy, metals stocks but worries flare again about Greek debt *

Stan Choe and David K. Randall, AP Business Writers, On Monday May 9, 2011, 6:27 pm 

NEW YORK (AP) -- Commodity prices recovered some of last week's losses Monday, helping to lift the stocks of energy and materials companies. The broader market also rose despite new worries about Greece's debt problems.

Oil prices once again moved above $100 a barrel and pushed energy stocks higher. Marathon Oil Corp. rose 5.3 percent. Baker Hughes Inc., which helps companies drill for oil and gas, gained 3.4 percent. Energy companies within the S&P 500 rose nearly 2 percent, the most among the 10 industries in the index.

The S&P 500 added 6.09 points, or 0.5 percent, to close at 1,346.29. The Dow Jones industrial average gained 45.94 points, or 0.4 percent, to 12,684.68. The Nasdaq composite index rose 15.69 points, or 0.6 percent, to 2,843.25.

The rise in commodity prices helped other industries as well. Producers of metals and other materials rose 1.5 percent, second best among the S&P 500 groups, thanks to a 5 percent increase in silver prices and a 3 percent increase in corn. Metals and other commodities suffered steep losses last week, when silver tumbled 27 percent and oil sank 15 percent because of fears of weaker global demand and higher margin requirements that were meant to lower the influence of speculators whose strategy of buying on margin is considered to be a reason why commodities have risen so steeply over the last year.

Financial stocks were the only industry group to decline. Citigroup Inc. fell 2.7 percent on its first day of trading after completing a one-for-ten reverse split that drastically increased its share price by lowering the number of available shares. It is now trading in the $40 range for the first time since 2007. Companies often turn to reverse splits to raise their share prices as a way to attract institutional investors who may be prohibited from buying into companies with share prices in the single digits.

Better sales pushed other companies higher. The nation's largest food distributor, Sysco Corp., jumped 10.7 percent after reporting a 4 percent rise in income. Analysts had expected a drop. McDonald's Corp. rose 0.8 percent after reporting that its global sales rose last month. The strongest growth came from its restaurants abroad, which stretch from Europe to the Middle East to Asia. Tyson Foods Inc. lost 6 percent after reporting that its earnings were flat from a year ago.

Dollar Thrifty Automotive Group Inc. rose 13.8 percent after Hertz Global Holdings Inc. raised its buyout offer for the car rental company to more than $2.2 billion. Rival Avis Budget Group Inc. is also trying to buy Dollar Thrifty.

Most companies in the S&P 500 have reported earnings for the first quarter, and the trends have been strong. Through Friday, nearly three out of four companies released earnings that beat analysts' expectations.

Economic data, by contrast, has been mixed. Growth for the manufacturing industry slowed last month, and the economy grew at a lower-than-expected 1.8 percent in the first quarter.

European stock markets fell on worries that Greece will need more time or assistance from other EU countries to make payments on its debt, or worse, the country could partially default on the debt that it owes to bond investors. Standard & Poor's downgraded Greece's debt rating even further into junk status. The Euro Stoxx 50, an index of large companies in countries that use the euro, fell 1.7 percent.

The yield on the 10-year Treasury note remained close to its lowest point of the year, 3.13 percent. It fell that low on Friday after a German magazine claimed that Greece may drop the euro currency. Greece's government strongly denied the claim. Worried investors have bought Treasurys, traditionally seen as a safe investment. When Treasury prices rise, their yields fall.

Two stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 3 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Corporate deals and strong earnings have been credited with driving stocks higher this year -- and Tuesday saw a bit of each.

The biggest news, that Microsoft Inc. said it would buy Internet telephone service Skype for $8.5 billion in cash, is another sign that cash-rich companies are starting to spend. Corporations built up a record amount of cash over the last several years, and they have started using it to purchase rivals, pay dividends and also expand their businesses. That, in turn, has led to increased confidence among money managers and other investors that stocks are going to continue to rise.

Large companies also want to put their cash stockpiles to work because they're getting minimal returns on them, said Oliver Pursche, president of Gary Goldberg Financial Services. Interest rates for short-term savings pay less than 1 percent. "The crisis is behind us," he said. Companies "don't need this much cash anymore."

Microsoft had $50.15 billion in cash and short-term investments at the end of March.

The Skype purchase would be Microsoft's largest in its 36-year history. It follows AT&T Inc.'s announcement in March that it would buy T-Mobile USA for $39 billion and Johnson & Johnson's $21.3 billion deal announced last month to acquire Synthes, a maker of medical instruments and implants.

*The NYSE DOW NYSE DOW closed HIGHER +75.68 points +0.60% on Tuesday May 10*
Sym .......Last .......Change.......... 
Dow 12,760.36 +75.68 +0.60% 
Nasdaq 2,871.89 +28.64 +1.01% 
S&P 500 1,357.16 +10.87 +0.81% 
30-yr Bond 4.3340% +0.0330 

NYSE Volume 3,805,438,000  (prior day 3,386,336,750)
Nasdaq Volume 2,036,290,000 (prior  1,656,821,625)

NYSE Volume 3,386,336,750 (prior day 4,951,299,000)
Nasdaq Volume 1,656,821,625 (prior 2,054,519,750) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 6,018.89 +76.20 +1.28% 
DAX 7,501.52 +91.00 +1.23% 
CAC 40 4,052.51 +45.25 +1.13%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,803.60 -28.10 -0.58% 
Shanghai Comp 2,889.82 -0.81 -0.03%  
Taiwan We... 9,023.28 -12.20 -0.14%  
Nikkei 225 9,818.76 +24.38 +0.25% 
Hang Seng 23,336.00 +176.86 +0.76% 
Straits Times 3,157.16 +20.22 +0.64%  

http://finance.yahoo.com/news/Micro...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Microsoft's $8.5 billion Skype deal lifts stocks

Stocks rise after Microsoft $8.5B deal for Skype; Dean Foods, others report strong earnings 
*

Stan Choe and Matthew Craft, AP Business Writers, On Tuesday May 10, 2011, 4:54 pm 

NEW YORK (AP) -- Corporate deals and strong earnings have been credited with driving stocks higher this year -- and Tuesday saw a bit of each.

The biggest news, that Microsoft Inc. said it would buy Internet telephone service Skype for $8.5 billion in cash, is another sign that cash-rich companies are starting to spend. Corporations built up a record amount of cash over the last several years, and they have started using it to purchase rivals, pay dividends and also expand their businesses. That, in turn, has led to increased confidence among money managers and other investors that stocks are going to continue to rise.

Large companies also want to put their cash stockpiles to work because they're getting minimal returns on them, said Oliver Pursche, president of Gary Goldberg Financial Services. Interest rates for short-term savings pay less than 1 percent. "The crisis is behind us," he said. Companies "don't need this much cash anymore."

Microsoft had $50.15 billion in cash and short-term investments at the end of March.

The Skype purchase would be Microsoft's largest in its 36-year history. It follows AT&T Inc.'s announcement in March that it would buy T-Mobile USA for $39 billion and Johnson & Johnson's $21.3 billion deal announced last month to acquire Synthes, a maker of medical instruments and implants.

CKx Inc., which owns the rights to the names and images of Muhammad Ali and Elvis Presley, jumped 22 percent after it agreed to be bought by private equity investors. The buyout group will pay about $511 million for the company, which also owns the "American Idol" television show.

Also on Tuesday, dairy producer Dean Foods Co. and Medifast Inc. reported earnings that beat analysts' expectations. Dean had a stronger start to the year than it expected and raised its forecast for full-year earnings. The company also said it would raise prices to help combat falling milk sales. Dean jumped 11 percent.

Medifast, which operates a weight-loss program, rose 17 percent.

Boston Scientific Corp. sank 9 percent after the medical device company said its president and CEO, Ray Elliott, will retire at the end of the year. The company is looking for his replacement.

The Dow Jones industrial average rose 75.68 points, or 0.6 percent, to close at 12,760.36. The Standard & Poor's 500 index rose 10.87 points, or 0.8 percent, to 1,357.16. The Nasdaq composite index gained 28.64 points, or 1 percent, to 2,871.89.

Stocks have risen sharply in 2011, driven by strong earnings reports from major U.S. companies such as heavy equipment maker Caterpillar Inc. and Apple Inc. The S&P 500 is up 8 percent, more than it gained in five of the last 10 full calendar years.

Companies in the S&P 500 are on track to report first-quarter earnings growth of 19 percent, according to FactSet. That's far ahead of the 11 percent that analysts were forecasting at the end of 2010. Nearly nine out of ten companies in the index have reported results already.

Crude oil wavered but gained $1.33 to settle at $103.88 per barrel. The Bureau of Labor Statistics said Tuesday that higher fuel costs drove prices for imports into the United States up 2.2 percent last month. It's the first time import prices have topped 2 percent in consecutive months since June 2008.

Metals futures recovered more of their losses from last week's sell-off. Silver rose to $38.48 per ounce. Silver has more than doubled over the last year, but is still about $10 below where it was at the end of April.

Nearly five shares rose for every one that fell on the New York Stock Exchange. Trading volume was 3.5 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Tumbling demand for commodities and a drop in the euro led to a broad stock sell-off Wednesday that pulled the Dow Jones industrial average down 130 points.

Demand for gasoline in the U.S. fell by the largest amount in seven weeks, the Energy Information Administration said, a signal that consumers are conserving money as gas prices near a national average of $4 a gallon. Gas futures fell almost 8 percent. Crude oil fell back below $100 a barrel, a loss of more than 4 percent.

Fewer fill-ups may be an early sign of a broader drop in consumer and business spending as customers forgo trips to malls and restaurants and companies ship fewer products. That, in turn, could lead to lower corporate earnings and halt a stock rally that has sent the stock market up 7 percent this year.

"People are becoming more conservative in their outlook and their spending as oil prices have risen, and that's making the market become more concerned about growth," said Quincy Krosby, the chief strategist at Prudential Financial.

*The NYSE DOW NYSE DOW closed LOWER -130.33 points -1.02% on Wednesday May 11*
Sym .......Last .......Change.......... 
Dow 12,630.03 -130.33 -1.02% 
Nasdaq 2,845.06 -26.83 -0.93% 
S&P 500 1,342.08 -15.08 -1.11% 
30-yr Bond 4.2960% -0.0380 

NYSE Volume 4,324,863,000  (prior day 3,805,438,000)
Nasdaq Volume 2,290,372,500  (prior 2,036,290,000)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,976.00 -42.89 -0.71% 
DAX 7,495.05 -6.47 -0.09%  
CAC 40 4,058.08 +5.57 +0.14%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,858.20 +54.60 +1.14%  
Shanghai Comp 2,883.89 -6.74 -0.23% 
Taiwan We... 9,020.40 -2.88 -0.03% 
Nikkei 225 9,864.26 +45.50 +0.46%  
Hang Seng 23,291.80 -44.20 -0.19%  
Straits Times 3,177.18 +20.92 +0.66%

http://finance.yahoo.com/news/Slump...77.html?x=0&sec=topStories&pos=2&asset=&ccode

*Slumping oil, commodity prices halt stock rally

Falling oil and metals prices derail a 3-day rally in stocks; Disney disappoints *

Stan Choe and David K. Randall, AP Business Writers, On Wednesday May 11, 2011, 4:49 pm EDT 

NEW YORK (AP) -- Tumbling demand for commodities and a drop in the euro led to a broad stock sell-off Wednesday that pulled the Dow Jones industrial average down 130 points.

Demand for gasoline in the U.S. fell by the largest amount in seven weeks, the Energy Information Administration said, a signal that consumers are conserving money as gas prices near a national average of $4 a gallon. Gas futures fell almost 8 percent. Crude oil fell back below $100 a barrel, a loss of more than 4 percent.

Fewer fill-ups may be an early sign of a broader drop in consumer and business spending as customers forgo trips to malls and restaurants and companies ship fewer products. That, in turn, could lead to lower corporate earnings and halt a stock rally that has sent the stock market up 7 percent this year.

"People are becoming more conservative in their outlook and their spending as oil prices have risen, and that's making the market become more concerned about growth," said Quincy Krosby, the chief strategist at Prudential Financial.

The fall in demand for gas means that traders will take a close look at Thursday's weekly report on first-time applications for unemployment benefits. If they rise, that could indicate companies are cutting back in other areas as well, Krosby said. Stocks rose broadly on Friday after a report that companies added more than 200,000 jobs in April.

Stocks fell broadly, with energy and materials companies suffering the worst declines. The Dow lost 1 percent to close at 12,630.03. The S&P 500 fell 15.08, or 1.1 percent, to 1,342.08. The Nasdaq composite lost 26.83, or 0.9 percent, to 2,845.06.

The market's broad sell off, which sent all 10 industry groups in the S&P 500 index lower, is a sign that the economic recovery still seems uncertain at times. Strong earnings have been carrying the market higher since the beginning of 2011. On Tuesday the S&P 500 climbed for the third straight day to within 0.5 percent of its highest close for the year.

"Every time that stocks start to go down a little bit, you're seeing more selling pile on because people have made so much profit over the past 9 months," said Uri Landesman, president of Platinum Partners, a New York-based hedge fund.

The market's losses accelerated shortly before noon Wednesday. The dollar and government bond prices rose as traders moved money into safer assets. The dollar rose 0.8 percent against a group of other major currencies. The euro dropped 1.5 percent against the dollar.

The yield on the 10-year Treasury note fell to 3.16 percent from 3.22 percent late Tuesday. Bond yields fall when their prices rise.

Energy stocks fell 3 percent, the most of any of the 10 industries in the S&P 500 index. Denbury Resources Inc. and Cabot Oil & Gas Corp. both fell more than 4 percent.

Materials producers also struggled after metals prices sank. Freeport McMoRan Copper & Gold Inc., a miner, fell 5.6 percent. Copper fell 3.2 percent, and silver lost 7.7 percent. Silver fell sharply last week as part of a sell-off in commodities.

Commodities are still more expensive than they were a year ago. High oil prices helped push the nation's trade deficit up 6 percent to $48.2 billion in March from February. U.S. companies sold more automobiles and other goods and services to customers abroad, but it wasn't enough to make up for an 18 percent rise in oil imports.

Disney's results late Tuesday fell short of expectations, and its stock fell 54 percent, the most of the 30 stocks that make up the Dow. The earthquake that struck Japan in March cut into revenues at its theme parks there, and its movie studio profits took a hit from the box-office bomb "Mars Needs Moms."

Macy's Inc. was among the few companies that rose. The company jumped 7.7 percent after its earnings blew past expectations. The parent of Macy's and Bloomingdale's department stores said its first-quarter net income more than quintupled to $131 million from $23 million. The company raised its forecast for full-year earnings and doubled its quarterly dividend to 10 cents.

American International Group Inc. rose 3.5 percent after the government said it would sell 200 million of the 1.66 billion shares in the insurer that it owns to the public. The Treasury Department owns 92 percent of AIG after the company got bailed out during the financial crisis.

Intel Corp. rose 1.6 percent after the chip maker increased its quarterly dividend to 21 cents from 16 cents.

Three stocks fell for every one that rose on the New York Stock Exchange. Consolidated volume came to 3.8 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

A small recovery in commodities and a rally in companies that make consumer staples like toilet paper and pasta helped the financial markets reverse a decline Thursday to end the day with modest gains.

Consumer staples and health care led the market due in part to concerns that high gas prices will erode consumer spending and cut into corporate earnings. Companies that sell everyday items or provide health-related products and services are less dependent on economic growth for their profits since people typically spend money on such items even if they cut back elsewhere. Coca-Cola, McDonald's and Kraft Foods were among the day's biggest gainers.

Retail sales rose 0.5 percent, but that number dropped to 0.2 percent after excluding gas prices. Higher energy costs also pushed wholesale prices -- the amount companies pay for goods -- up 0.8 percent in April, the government said.

"(The market) is watching to see the extent to which higher energy prices crowd out consumption more broadly," said Andrew Goldberg, a strategist at JP Morgan Funds. If that happens, consumer staples -- along with utilities -- are typically better investments because their products serve needs, not wants and because they pay higher dividends.

The Dow Jones industrial average gained 65.89 points, or 0.5 percent, to 12,695.92. The S&P 500 added 6.57, or 0.5 percent, to 1,348.65. The Nasdaq composite rose 17.98, or 0.6 percent, to 2,863.04.The Dow Jones industrial average came back from a 93-point deficit earlier in the day.

*The NYSE DOW NYSE DOW closed HIGHER  +65.89 points +0.52% on Wednesday May 12*
Sym .......Last .......Change.......... 
Dow 12,695.92 +65.89 +0.52% 
Nasdaq 2,863.04 +17.98 +0.63% 
S&P 500 1,348.65 +6.57 +0.49% 
30-yr Bond 4.3520% +0.0560 

NYSE Volume 4,254,380,500  (prior day 4,324,863,000)
Nasdaq Volume 2,233,684,250  (prior 2,290,372,500)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,944.96 -31.04 -0.52% 
DAX 7,443.95 -51.10 -0.68% 
CAC 40 4,023.29 -34.79 -0.86%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,776.60 -81.60 -1.68% 
Shanghai Comp 2,883.89 -6.74 -0.23%  
Taiwan We... 9,033.68 +13.28 +0.15% 
Nikkei 225 9,716.65 -147.61 -1.50% 
Hang Seng 23,073.76 -218.04 -0.94% 
Straits Times 3,130.45 -46.73 -1.47%  

http://finance.yahoo.com/news/Stock...1.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks edge higher as commodity slide eases

Stocks recover as trading in oil and other commodities stabilizes *

Matthew Craft and David K. Randall, AP Business Writers, On Thursday May 12, 2011, 5:22 pm EDT 

NEW YORK (AP) -- A small recovery in commodities and a rally in companies that make consumer staples like toilet paper and pasta helped the financial markets reverse a decline Thursday to end the day with modest gains.

Consumer staples and health care led the market due in part to concerns that high gas prices will erode consumer spending and cut into corporate earnings. Companies that sell everyday items or provide health-related products and services are less dependent on economic growth for their profits since people typically spend money on such items even if they cut back elsewhere. Coca-Cola, McDonald's and Kraft Foods were among the day's biggest gainers.

Retail sales rose 0.5 percent, but that number dropped to 0.2 percent after excluding gas prices. Higher energy costs also pushed wholesale prices -- the amount companies pay for goods -- up 0.8 percent in April, the government said.

"(The market) is watching to see the extent to which higher energy prices crowd out consumption more broadly," said Andrew Goldberg, a strategist at JP Morgan Funds. If that happens, consumer staples -- along with utilities -- are typically better investments because their products serve needs, not wants and because they pay higher dividends.

The Dow Jones industrial average gained 65.89 points, or 0.5 percent, to 12,695.92. The S&P 500 added 6.57, or 0.5 percent, to 1,348.65. The Nasdaq composite rose 17.98, or 0.6 percent, to 2,863.04.The Dow Jones industrial average came back from a 93-point deficit earlier in the day.

The Labor Department said applications for unemployment benefits fell last week to 434,000, slightly less than what economists expected. That report also contributed to the early morning market losses.

Crude oil recovered from steep losses earlier in the day and finished nearly 1 percent higher, but remained below $100 a barrel. Other commodities also recovered. As copper and gold prices went up, materials companies moved higher. Freeport McMoRan Copper & Gold Inc. reversed its losses from the morning and finished nearly 1 higher.

Stock trading has been affected by huge moves in commodities markets over the past two weeks, including a 9 percent drop in the price of oil a week ago and a 27 percent plunge in the price of silver last week. The volatility in commodities and stocks led investors to park money in less risky and more stable assets like government bonds.

Energy companies dropped slightly. ConocoPhillips fell 1.3 percent. A drop in oil prices translates into declining revenues for energy companies.

U.S. government bonds and the dollar both fell as investors became more comfortable holding stocks, commodities and other riskier assets. The dollar fell 0.2 percent against a group of six other currencies, and the yield on the 10-year note rose to 3.23 percent from 3.16 percent late Wednesday. Bond yields rise when their prices fall.

Commodities and stocks have both benefited from the Federal Reserve's program to boost the economy by buying $600 billion in Treasury bonds. The Fed's program had the effect of pushing yields on government bonds lower, encouraging investors to move money into stocks and commodities.

With the Fed's effort coming to an end in June, the same investments are likely to fall, said Doug Roberts, the chief investment strategist for Channel Capital Research.

"When the Fed pulls back, investors cut back," Roberts said.

Some well-known companies fell more than the broad markets. Cisco Systems Inc. fell 4.8 percent after the maker of computer networking equipment reported an 18 percent slide in earnings and lowered its profit forecast. It also plans to cut jobs.

Goldman Sachs Group Inc. fell 3.5 percent after it was downgraded by analysts due to a Senate investigation and a Rolling Stone article that argued that the Justice Department should bring charges against the investment bank for defrauding investors.

Two stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 3.7 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow fell 0.3 percent over the week and 1.7 percent for the month. The Nasdaq was flat for the week and is down 1.6 percent for the month.

Since when does the stock market take its cues from the market for silver, oil and pork bellies? When it's really the dollar that's driving the action.

The stock market rally, which began in August, relied on stronger earnings, rising commodity prices and a weak dollar, said Andrew Wilkinson, senior market analyst at Interactive Brokers. But prices for commodities have dropped by 10 percent this month, and swung wildly over the past week. Oil, for example, was nearly $114 a barrel at the end of April. On Tuesday oil settled at $104, fell, rose and fell again, to close at $99.65 on Friday.

Falling commodity prices are widely blamed for driving down stocks. The Standard & Poor's 500 index has lost 1.9 percent so far in May. Other indexes are down more than 1.5 percent for the month.

It's not simply a case of investors selling because they believe declining oil prices are a sign that the economy is losing strength. Rather, since commodities are mainly traded in dollars, it's the dollar's recent rise that is largely responsible for pushing down commodity prices. If the dollar gains strength against other currencies, it takes fewer dollars to buy the same barrel of oil.


*The NYSE DOW NYSE DOW closed LOWER -100.17 points -0.79%  on Friday May 13*
Sym .......Last .......Change.......... 
Dow 12,595.75 -100.17 -0.79% 
Nasdaq 2,828.47 -34.57 -1.21% 
S&P 500 1,337.77 -10.88 -0.81% 
30-yr Bond 4.3260% -0.0260 

NYSE Volume 3,956,685,750  (prior day 4,254,380,500)
Nasdaq Volume 1,930,908,375 (prior 2,233,684,250)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,925.87 -19.09 -0.32% 
DAX 7,403.31 -40.64 -0.55% 
CAC 40 4,018.85 -4.44 -0.11% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,787.30 +10.70 +0.22% 
Shanghai Comp 2,871.87 +27.79 +0.98% 
Taiwan We... 9,006.61 -27.07 -0.30% 
Nikkei 225 9,648.77 -67.88 -0.70%  
Hang Seng 23,276.27 +202.51 +0.88%  
Straits Times 3,163.68 +33.23 +1.06%  



http://finance.yahoo.com/news/Stock...age/headcontent/main/3665250489//date/asc/1/0

*Stocks fall as European financial crisis expands

Stocks slide after European officials say bailouts will be larger than originally forecast *

Matthew Craft and David K. Randall, AP Business Writers, On Friday May 13, 2011, 5:22 pm 

NEW YORK (AP) -- Since when does the stock market take its cues from the market for silver, oil and pork bellies? When it's really the dollar that's driving the action.

The stock market rally, which began in August, relied on stronger earnings, rising commodity prices and a weak dollar, said Andrew Wilkinson, senior market analyst at Interactive Brokers. But prices for commodities have dropped by 10 percent this month, and swung wildly over the past week. Oil, for example, was nearly $114 a barrel at the end of April. On Tuesday oil settled at $104, fell, rose and fell again, to close at $99.65 on Friday.

Falling commodity prices are widely blamed for driving down stocks. The Standard & Poor's 500 index has lost 1.9 percent so far in May. Other indexes are down more than 1.5 percent for the month.

It's not simply a case of investors selling because they believe declining oil prices are a sign that the economy is losing strength. Rather, since commodities are mainly traded in dollars, it's the dollar's recent rise that is largely responsible for pushing down commodity prices. If the dollar gains strength against other currencies, it takes fewer dollars to buy the same barrel of oil.

"Suddenly, the dollar is no longer the whipping boy," Wilkinson said. "And if the dollar is no longer the whipping boy, you can no longer count on a commodity-driven rebound to push up the stock market."

Worries over Europe pushed the dollar up nearly 1 percent on Friday and erased the week's gains in the stock market.

The Dow Jones industrial average lost 100.17 points, or 0.8 percent, to close at 12,595.75. The S&P 500 fell 10.88, or 0.8 percent, to 1,337.77. The Nasdaq lost 34.57, or 1.2 percent, to 2,828.47. The slide turned the Dow and S&P lower for the week.

Financial stocks fared the worst in the past week, followed by material and energy companies. Both Bank of America Corp. and JPMorgan Chase & Co. dropped 2 percent on Friday.

Companies in the energy sector fell the most in May. Exxon Mobil Corp. lost 8 percent so far this month.

The Dow fell 0.3 percent over the week and 1.7 percent for the month. The Nasdaq was flat for the week and is down 1.6 percent for the month.

The Russell 2000, an index of small companies, ended the week up nearly 0.3 percent, but is down the most so far this month, declining 3.42 percent.

In addition to the dollar's rising value, several other forces have led to the recent rout in commodity prices. A requirement that traders back their bets on silver with more cash spurred a sell-off in metals, which some traders say cascaded into other markets. Reports over the past week showing weaker demand and rising supplies for both crude oil and gas have pushed down energy prices. U.S. oil inventories have climbed to their highest level since May 2009.

Meanwhile, betting on a weak dollar has been a popular move. For much of the last year, traders bought commodities and sold dollars.

The dollar's sudden strength has caused them to reverse those bets. "That's been the big trade," said Dan Greenhaus, chief economic strategist at Miller Tabak. "And it's getting undone."

The downside: eventually a stronger dollar makes U.S. products more expensive to foreign buyers. Exports decline. Companies that sell everything from sneakers to aircraft feel their profits pinched.

Stocks in countries that use the euro fell after the European Union warned that the debt loads of Greece, Ireland and Portugal will be larger than originally thought. Officials said that Greece needs to cut spending further, which led to concerns that the assistance the country has already received won't be enough. The Euro Stoxx 50, an index of large companies in countries that use the euro, fell 0.8 percent.

Fears of a deepening financial crisis overshadowed reports that found that consumers are feeling more confident in the U.S. economy and that inflation remains in check. Consumer prices rose 0.4 percent in April, the Labor Department said. That was in line with economist's expectations.

Most of the increases came in volatile food and energy prices. Stripping those out, prices rose 0.2 percent and stayed below the rate of inflation that the Federal Reserve considers normal.

"Inflation doesn't look like the risk that everyone feared," said Doug Cote, the chief market strategist at ING Investment Management.

The prices that consumers pay have risen 3.2 percent over the last 12 months, the biggest 12-month gain since October 2008. Companies like Kimberly-Clark Corp. and Colgate-Palmolive Co. that sell households products have raised prices because of higher commodity costs that have cut into their profit margins. Costs for raw materials like oil, coffee, and cattle have risen more than 10 percent this year.

More than two stocks fell for every one that rose on the New York Stock Exchange. Trading volume was 3.5 billion shares.

9508


----------



## bigdog

Source: http://finance.yahoo.com

Technology company troubles and renewed concerns about Europe's debt dragged stocks lower for a second day.

European finance ministers approved $110 billion in rescue loans to Portugal on Monday, but have yet to decide on a second rescue package for Greece.

The arrest of the head of the International Monetary Fund is expected to make solving Greece's problems more difficult. The official, Dominique Strauss-Kahn, had been heavily involved in trying to fix the debt crises in Portugal and Greece. He is being held without bail on charges of sexually assaulting a hotel employee in New York City.

Technology companies sustained the largest losses in Monday trading. Yahoo! Inc. and Amazon.com Inc. fell by more than 4 percent. Yahoo is in a dispute with Alibaba Group Holding Ltd. over its online payment business. Yahoo owns a 40 percent stake in the company, which transferred its online payment business to another company without consulting Yahoo.

Investors are growing increasingly concerned over the prospect of an unprecedented U.S. default on its debt. Treasury Secretary Timothy Geithner told Congressional lawmakers in a letter Monday that the agency is taking steps to postpone a default.

*The NYSE DOW NYSE DOW closed LOWER -47.38 points -0.38% on Monday May 16*
Sym .......Last .......Change.......... 
Dow 12,548.37 -47.38 -0.38% 
Nasdaq 2,782.31 -46.16 -1.63% 
S&P 500 1,329.47 -8.30 -0.62% 
30-yr Bond 4.2760% -0.0500  

NYSE Volume 3,888,634,000 (prior 3,956,685,750) 
Nasdaq Volume 2,071,148,875  (prior 1,930,908,375)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,923.69 -2.18 -0.04% 
DAX 7,387.54 -15.77 -0.21% 
CAC 40 3,989.82 -29.03 -0.72%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,724.20 -63.10 -1.32% 
Shanghai Comp 2,849.95 -21.08 -0.73% 
Taiwan We... 8,911.71 -94.90   
Nikkei 225 9,558.30 -90.47 -0.94% 
Hang Seng 22,960.63 -315.64 -1.36% 
Straits Times 3,136.48 -27.20 -0.86% 

http://finance.yahoo.com/news/Debt-...3.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Debt concerns weigh on stocks

Stocks fall for second day running, dragged down by technology companies and Europe worries *

David K. Randall and Matthew Craft, AP Business Writer, On Monday May 16, 2011, 4:58 pm 

NEW YORK (AP) -- Technology company troubles and renewed concerns about Europe's debt dragged stocks lower for a second day.

European finance ministers approved $110 billion in rescue loans to Portugal on Monday, but have yet to decide on a second rescue package for Greece.

The arrest of the head of the International Monetary Fund is expected to make solving Greece's problems more difficult. The official, Dominique Strauss-Kahn, had been heavily involved in trying to fix the debt crises in Portugal and Greece. He is being held without bail on charges of sexually assaulting a hotel employee in New York City.

Technology companies sustained the largest losses in Monday trading. Yahoo! Inc. and Amazon.com Inc. fell by more than 4 percent. Yahoo is in a dispute with Alibaba Group Holding Ltd. over its online payment business. Yahoo owns a 40 percent stake in the company, which transferred its online payment business to another company without consulting Yahoo.

Investors are growing increasingly concerned over the prospect of an unprecedented U.S. default on its debt. Treasury Secretary Timothy Geithner told Congressional lawmakers in a letter Monday that the agency is taking steps to postpone a default.

"The main thing hanging over most financial markets right now is what's going to happen with the debt ceiling and government borrowing and spending," said Tim Courtney, the chief investment officer at Burns Advisory Group in Oklahoma City.

The Dow Jones industrial average lost 47.38 points, or 0.4 percent, to close at 12,548.37. The Standard & Poor's 500 index fell 8.30 points, or 0.6 percent, to 1,329.47. The Nasdaq fell 46.16, or 1.6 percent, to 2,782.31.

Commodity prices were mostly lower. Oil prices fell $2.28 to settle at $97.37 a barrel Monday as worries eased that Mississippi River flooding could disrupt refineries and slow demand.

Commodities have been falling broadly over the last two weeks because of concerns that the global economy is showing signs of weakening. A series of margin-hikes that were meant to curb the influence of speculators, whose heavy trading sent commodities like silver up more than 11 percent for the year, have also sent commodities lower.

"People are coming back into the commodity markets because they think that, in the back of their minds, the global growth story will continue," said Zahid Siddique, an associate portfolio manager at Gabelli Equity Trust, a money manager based in New York.

The stock market has lost some of its momentum in the last few weeks after finishing its best first quarter since 1998. Companies in so-called defensive industries like health care, utilities and consumer staples have outperformed lately due in part to concerns that high gas prices will slow the economy and cut into corporate profits.

Two well-known retailers in the U.S. fell after reporting quarterly results Monday. Home improvement company Lowe's Cos. fell 2 percent in after its quarterly report missed Wall Street's estimates and the company cut its outlook for the year. Bad weather and a decline in consumer spending combined to drive its profit down 6 percent in the first quarter.

J.C. Penny Co. Inc. lost 1.5 percent despite raising its full year profit estimates.

One of the most talked-about deals on Wall Street was officially nixed as well. The parent company of the New York Stock Exchange dropped nearly 11 percent after competitors Nasdaq OMX Group and ICE announced that they had withdrawn their hostile bid for the company. NYSE Euronext had angered its shareholders by refusing to meet with the two companies, which offered a higher price than what NYSE received from a German exchange operator. The withdrawn offer clears one hurdle to the proposed combination of the NYSE and its German counterpart.

More than two shares fell for every one that rose on the New York Stock Exchange. Trading volume was 3.5 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

A lower earnings forecast by tech giant Hewlett-Packard and concerns about the economy's strength dragged the Dow Jones industrial average down nearly 70 points Tuesday. Gains in bank and utilities stocks limited the market's overall losses.

Hewlett-Packard Co. fell more than 7 percent. The world's largest technology company by revenue lowered its earnings outlook for the rest of the year, partly because of weaker sales of personal computers. The company fell to $36.91, near its lowest price over the last 12 months.

Concerns about the economy's strength helped pull down industrial companies like Caterpillar Inc. and Boeing Co. The Federal Reserve said U.S. factories produced fewer goods in April for the first time in 10 months. If the decline continues, it could cut into the earnings of companies that make industrial equipment. The Commerce Department also reported that construction of new homes plunged.

The two reports drove traders into the relative safety of U.S. government bonds, pushing yields to their lowest level this year. The yield on the 10-year Treasury note sank to 3.10 percent. When bond prices rise, their yields fall.

"There's a high degree of caution right now," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. "People are worried about big picture issues that need to be resolved."

The Dow lost 68.79 points, or 0.5 percent, to 12,479.58. The S&P 500 lost 0.49, or less than 0.1 percent, to 1,328.98. The Nasdaq rose 0.90, also less than 0.1 percent, to 2,783.21.

*The NYSE DOW NYSE DOW closed LOWER -68.79 points -0.55%  on Tuesday May 17*
Sym .......Last .......Change.......... 
Dow 12,479.58 -68.79 -0.55%  
Nasdaq 2,783.21 +0.90 +0.03% 
S&P 500 1,328.98 -0.49 -0.04% 
30-yr Bond 4.2320% -0.0440 

NYSE Volume 4,474,123,000  (prior 3,888,634,000)
Nasdaq Volume 2,228,028,500  (prior 2,071,148,875)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,861.00 -62.69 -1.06% 
DAX 7,256.65 -130.89 -1.77% 
CAC 40 3,941.58 -48.24 -1.21%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,753.00 +28.80 +0.61% 
Shanghai Comp 2,852.77 +3.71 +0.13%  
Taiwan We... 8,884.09 -27.62 -0.31%  
Nikkei 225 9,567.02 +8.72 +0.09%  
Hang Seng 22,901.08 -59.55 -0.26% 
Straits Times 3,136.48 -27.20 -0.86% 

http://finance.yahoo.com/news/Lower-HP-outlook-and-economic-apf-2241330049.html?x=0

*Lower H-P outlook and economic concerns sink Dow

Dow Jones industrial average falls 69 after Hewlett-Packard lowers its earnings forecast *

Matthew Craft and David K. Randall, AP Business Writers, On Tuesday May 17, 2011, 4:51 pm 

NEW YORK (AP) -- A lower earnings forecast by tech giant Hewlett-Packard and concerns about the economy's strength dragged the Dow Jones industrial average down nearly 70 points Tuesday. Gains in bank and utilities stocks limited the market's overall losses.

Hewlett-Packard Co. fell more than 7 percent. The world's largest technology company by revenue lowered its earnings outlook for the rest of the year, partly because of weaker sales of personal computers. The company fell to $36.91, near its lowest price over the last 12 months.

Concerns about the economy's strength helped pull down industrial companies like Caterpillar Inc. and Boeing Co. The Federal Reserve said U.S. factories produced fewer goods in April for the first time in 10 months. If the decline continues, it could cut into the earnings of companies that make industrial equipment. The Commerce Department also reported that construction of new homes plunged.

The two reports drove traders into the relative safety of U.S. government bonds, pushing yields to their lowest level this year. The yield on the 10-year Treasury note sank to 3.10 percent. When bond prices rise, their yields fall.

"There's a high degree of caution right now," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. "People are worried about big picture issues that need to be resolved."

The Dow lost 68.79 points, or 0.5 percent, to 12,479.58. The S&P 500 lost 0.49, or less than 0.1 percent, to 1,328.98. The Nasdaq rose 0.90, also less than 0.1 percent, to 2,783.21.

Even with a majority of companies reporting stronger earnings, the U.S. stock market has lost some of its momentum in the last few weeks. Concerns are growing that high gas prices will weigh on the economy, pinch consumer spending and cut into corporate profits.

Companies reported mixed results Tuesday. Wal-Mart Stores Inc. said its income rose 3 percent in the first quarter, but sales at stores open at least a year fell for the eighth quarter in a row. Wal-Mart's stock fell nearly 1 percent.

Sales also slipped in the first quarter at Home Depot Inc., but the retailer's income jumped 12 percent and beat analysts' expectations. The stock rose 1.2 percent.

Two stocks fell for every one that rose on the New York Stock Exchange. Consolidated volume came to 4 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Widespread gains in commodity prices lifted energy and materials companies as part of a broad stock market rally Wednesday after three days of declines. Stocks built on morning gains after the Federal Reserve released minutes that showed that officials agreed that the economy is improving, which could lead to higher demand for raw materials like steel and fertilizer.

The Fed's bond-buying program has kept interest rates low and sent commodities and stock prices higher overall since late August. The U.S. stock market has gained nearly 25 percent since the central bank signaled that it would begin the asset-purchase plan. Commodity prices had fallen over the last two weeks after months of gains on concerns about the impact of high energy prices on the economy.

Oil gained nearly 4 percent to move back above $100 a barrel, due in part to a Dept. of Energy report that inventories of crude oil did not rise last week as expected. Energy stocks like Chevron Corp. and Exxon Mobil Corp. rose nearly 2 percent.

The Dow Jones industrial average added 80.60 points, or 0.6 percent, to close at 12,560.18. The S&P index rose 11.70, or 0.9 percent, to 1,340.68. The Nasdaq composite gained 31.79, or 1.1 percent, to 2,815.

*The NYSE DOW NYSE DOW closed HIGHER +80.60 points +0.65% on Wednesday May 18*
Sym .......Last .......Change..........  
Dow 12,560.18 +80.60 +0.65% 
Nasdaq 2,815.00 +31.79 +1.14% 
S&P 500 1,340.68 +11.70 +0.88% 
30-yr Bond 4.2880% +0.0560 

NYSE Volume 3,924,985,750  (prior 4,474,123,000)
Nasdaq Volume 1,904,806,375   (prior 2,228,028,500)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,923.49 +62.49 +1.07% 
DAX 7,303.53 +46.88 +0.65% 
CAC 40 3,978.00 +36.42 +0.92%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,765.30 +12.30 +0.26% 
Shanghai Comp 2,872.75 +19.98 +0.70% 
Taiwan We... 8,944.84 +60.75 +0.68% 
Nikkei 225 9,662.08 +95.06 +0.99% 
Hang Seng 23,011.14 +110.06 +0.48% 
Straits Times 3,138.20 +1.72 +0.05%  

http://finance.yahoo.com/news/Commo...1.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Commodity rally sends stock indexes higher

Stocks edge higher as rising oil pushes up energy companies; Fed minutes add to gains *

Francesca Levy and David K. Randall, AP Business Writers, On Wednesday May 18, 2011, 4:58 pm EDT 

NEW YORK (AP) -- Widespread gains in commodity prices lifted energy and materials companies as part of a broad stock market rally Wednesday after three days of declines. Stocks built on morning gains after the Federal Reserve released minutes that showed that officials agreed that the economy is improving, which could lead to higher demand for raw materials like steel and fertilizer.

The Fed's bond-buying program has kept interest rates low and sent commodities and stock prices higher overall since late August. The U.S. stock market has gained nearly 25 percent since the central bank signaled that it would begin the asset-purchase plan. Commodity prices had fallen over the last two weeks after months of gains on concerns about the impact of high energy prices on the economy.

Oil gained nearly 4 percent to move back above $100 a barrel, due in part to a Dept. of Energy report that inventories of crude oil did not rise last week as expected. Energy stocks like Chevron Corp. and Exxon Mobil Corp. rose nearly 2 percent.

The Dow Jones industrial average added 80.60 points, or 0.6 percent, to close at 12,560.18. The S&P index rose 11.70, or 0.9 percent, to 1,340.68. The Nasdaq composite gained 31.79, or 1.1 percent, to 2,815.

Commodity prices halted their slide after floods damaged wheat, corn and soybean fields, with traders anticipating a supply shortage would lead to higher prices. Materials companies in the S&P 500 rose 2.1 percent, led by a nearly 5 percent gain in CF Industries Holdings. The company sells fertilizer.

Stock indexes inched up slowly in morning trading as investors tried to make sense of mixed earnings reports. Reports from Dell Inc. and Staples Inc. sent contrasting messages about how much corporations are spending. Dell's strong results suggested that companies were spending more on technology, but Staples' report suggested businesses were reluctant to lay out cash for basic needs like office supplies.

"Businesses are spending in the technology sector to improve productivity," said Kim Caughey, equity research analyst at Fort Pitt Capital Group. "But in the business-supply area, they might not buy quite as many paper clips."

Dell jumped nearly 6 percent after the computer maker reported late Tuesday that its income nearly tripled on lower costs and better profit margins. Strong sales of servers, storage devices and computers to businesses also contributed to its results. Another tech company, Analog Devices Inc., rose 6 percent after the chip-maker said its profit jumped 44 percent.

Staples plunged 15 percent after the office-supply company reported that sales were weaker than investors were expecting. The company also lowered its full-year earnings forecast. Target Corp. fell 1.6 percent after the company also reported weak sales. Target's CEO Gregg Steinhafel said shoppers are "cautious" about spending.

The release of the Fed minutes sent bond prices lower because some of the central bank's members said it might need to start easing interest rates higher this year to guard against inflation. The higher price drove the yield of the 10-year Treasury note up to 3.17 percent from 3.12 percent late Tuesday. Bond prices rise when their yields fall.

Four stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 3.5 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

The biggest Internet IPO since Google combined with a drop in oil prices to send the broad stock market higher.

Shares of social networking company LinkedIn jumped 109 percent to $94.25 on the first day they began trading on the New York Stock Exchange under the ticker symbol "LNKD." The debut is seen as a preview of other social networking sites that are expected to start trading during the next year. The list of candidates includes the online messaging service Twitter, game maker Zynga, and the biggest social network of all, Facebook.

"LinkedIn represents the first opportunity for the average investor to participate in what looks like a lasting, powerful trend of social media," said Lawrence Creatura, a portfolio manager at Federated Investors. "They're frothy with excitement, and that's being imputed into the share price."

LinkedIn finished the day with a gigantic price-to-earnings ratio of 554, a valuation reminiscent of Internet stocks during the late 1990s tech bubble. By comparison, the average price-to-earnings ratio of technology companies in the S&P 500 index like Apple Inc. and Google Inc. is 15.

*The NYSE DOW NYSE DOW closed HIGHER +45.14 points +0.36% on Thursday May 19*
Sym .......Last .......Change.......... 
Dow 12,605.32 +45.14 +0.36% 
Nasdaq 2,823.31 +8.31 +0.30% 
S&P 500 1,343.60 +2.92 +0.22% 
30-yr Bond 4.3020% +0.0140  

NYSE Volume 3,687,415,250  (prior 3,924,985,750)
Nasdaq Volume 1,791,491,250  (prior 1,904,806,375) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,955.99 +32.50 +0.55% 
DAX 7,358.23 +54.70 +0.75% 
CAC 40 4,027.74 +49.74 +1.25% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,828.20 +62.90 +1.32% 
Shanghai Comp 2,859.74  -13.03 -.045% 
Taiwan We... 8,892.88 -51.96 -0.58% 
Nikkei 225 9,620.82 -41.26 -0.43%  
Hang Seng 23,163.38 +152.24 +0.66% 
Straits Times 3,172.56 +31.35 +1.00%  

http://finance.yahoo.com/news/Stocks-follow-LinkedIn-IPO-apf-2074172953.html?x=0

*Stocks follow LinkedIn IPO higher

Surging LinkedIn IPO and drop in oil prices lifts stock market higher *

Daniel Wagner and David K. Randall, AP Business Writers, On Thursday May 19, 2011, 4:52 pm 

NEW YORK (AP) -- The biggest Internet IPO since Google combined with a drop in oil prices to send the broad stock market higher.

Shares of social networking company LinkedIn jumped 109 percent to $94.25 on the first day they began trading on the New York Stock Exchange under the ticker symbol "LNKD." The debut is seen as a preview of other social networking sites that are expected to start trading during the next year. The list of candidates includes the online messaging service Twitter, game maker Zynga, and the biggest social network of all, Facebook.

"LinkedIn represents the first opportunity for the average investor to participate in what looks like a lasting, powerful trend of social media," said Lawrence Creatura, a portfolio manager at Federated Investors. "They're frothy with excitement, and that's being imputed into the share price."

LinkedIn finished the day with a gigantic price-to-earnings ratio of 554, a valuation reminiscent of Internet stocks during the late 1990s tech bubble. By comparison, the average price-to-earnings ratio of technology companies in the S&P 500 index like Apple Inc. and Google Inc. is 15.

Sumeet Jain, a principal with venture investing firm CMEA Capital, said LinkedIn's IPO suggests that the number of mergers and acquisitions will increase this year as social networking companies grow, a potential boon for the stock market.

LinkedIn is "going to have to be quite aggressive" to meet investors' lofty expectations, Jain said. "All the rest of the companies in the pipeline, when they're all public companies they will be extraordinarily active acquirers as well."

The Dow Jones industrial average rose 45.14, or 0.4 percent, to close at 12,605.32. The S&P 500 gained 2.92, or 0.2 percent, to 1,343.60. The Nasdaq composite index rose 8.31, or 0.3 percent, to 2,823.31.

Oil prices fell back below $100 a barrel after an international agency said there is an "urgent need" for refineries to produce more gasoline and bring down pump prices in order to prevent a downturn in the global economy. Delta Air Lines Inc. rose 4.1 percent and JetBlue Airways Corp. rose 1.4 percent on expectations that their fuel costs would decrease.

Oil prices have fallen about 13 percent since the beginning of May as part of a broad-sell off in commodities due to fears that the economy is slowing. Despite LinkedIn's gains, concerns about the economy weighed on the market again Thursday.

The National Association of Realtors said fewer people purchased previously occupied homes in April. The Conference Board's outlook for future economic activity decreased for the first time since June 2010. And the Philadelphia Federal Reserve said that its measure of manufacturing activity slumped to its lowest reading since October.

The mixed news confirmed investors' belief that economic growth could be slow in the coming months. The yield on the benchmark 10-year Treasury note had risen as high as 3.24 percent following the positive jobs news but was back down to 3.17 percent, just below the rate it was trading at late Wednesday. Bond yields tend to rise when investors anticipate stronger economic growth.

"The fact that yields are still up today, even after this relatively weak set of data, tells me that people have factored in" expectations that the economy will grow more slowly this quarter, said Paul Zemsky, chief investment officer of multi-asset strategies for ING Investment Management.

With little fresh economic or corporate data expected in the next two weeks, the market will be "pretty much trading sideways unless something happens to throw people for a loop again," Zemsky said.

Stocks opened higher after the Department of Labor reported that applications for unemployment dropped more than expected. Indexes gave up those early gains after three negative reports on the economy came out at midmorning.

In a sign that the U.S. consumer recovery remains uneven, Big Lots Inc. fell nearly 11 percent after news reports that it decided not to sell itself. The Wall Street Journal said late Wednesday that the company received bids from two private-equity groups that were lower than it had hoped.

Sears Holding Corp. reported softer sales at its Kmart and Sears stores, causing a first-quarter loss of $1.58 per share, worse than analysts expected. The stock fell 2.6 percent.

Two stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 3.3 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks closed broadly lower for a third straight week on signs that U.S. consumer demand may be weakening. 

Retailers Gap Inc. and Aeropostale Inc. each lost more than 14 percent Friday after cutting their profit forecasts for the year, in part because of higher costs for raw materials and sluggish sales. That was a worrying sign for investors who had counted shoppers to lead a recovery in spending.

Gap's results pushed down other clothing companies who have been hit hard by the rising price of cotton and shoppers who are reluctant to splurge. Polo Ralph Lauren Corp. and J.C. Penney Co. each dropped 4 percent, while Urban Outfitters Inc. fell 3 percent.

The Dow Jones industrial average fell 93.28 points, or 0.7 percent, to 12,512.04. The Standard & Poor's 500 index lost 10.33, or 0.8 percent, to 1,333.27. The Nasdaq composite dropped 19.99, or 0.7 percent, to 2,803.32. Each market index fell by more than 0.3 percent for the week. The Nasdaq lost the most, 0.9 percent.


*The NYSE DOW NYSE DOW closed LOWER -93.28 points -0.74%  on Friday May 20*
Sym .......Last .......Change.......... 
Dow 12,512.04 -93.28 -0.74% 
Nasdaq 2,803.32 -19.99 -0.71% 
S&P 500 1,333.27 -10.33 -0.77% 
30-yr Bond 4.2990% -0.0030 

NYSE Volume 4,070,045,500  (prior 3,687,415,250)
Nasdaq Volume 1,798,408,625  (prior 1,791,491,250) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,948.49 -7.50 -0.13% 
DAX 7,266.82 -91.41 -1.24% 
CAC 40 3,990.85 -36.89 -0.92% 


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,807.70 -20.50 -0.42% 
Shanghai Comp 2,858.38 -1.19 -0.04%  
Taiwan We... 8,837.03 -55.85 -0.63% 
Nikkei 225 9,607.08 -13.74 -0.14% 
Hang Seng 23,199.39 +36.01 +0.16%  
Straits Times 3,168.54 -4.02 -0.13% 

http://finance.yahoo.com/news/Slide...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Slide in retailers sends stocks broadly lower

Stocks fall as retailers sink, led by Gap Inc. after company cuts forecast on sluggish sales *

Francesca Levy and David K. Randall, AP Business Writers, On Friday May 20, 2011, 6:14 pm 

NEW YORK (AP) -- Stocks closed broadly lower for a third straight week on signs that U.S. consumer demand may be weakening.

Retailers Gap Inc. and Aeropostale Inc. each lost more than 14 percent Friday after cutting their profit forecasts for the year, in part because of higher costs for raw materials and sluggish sales. That was a worrying sign for investors who had counted shoppers to lead a recovery in spending.

Gap's results pushed down other clothing companies who have been hit hard by the rising price of cotton and shoppers who are reluctant to splurge. Polo Ralph Lauren Corp. and J.C. Penney Co. each dropped 4 percent, while Urban Outfitters Inc. fell 3 percent.

The Dow Jones industrial average fell 93.28 points, or 0.7 percent, to 12,512.04. The Standard & Poor's 500 index lost 10.33, or 0.8 percent, to 1,333.27. The Nasdaq composite dropped 19.99, or 0.7 percent, to 2,803.32. Each market index fell by more than 0.3 percent for the week. The Nasdaq lost the most, 0.9 percent.

One exception to the retailer gloom was Barnes & Noble Inc. The bookseller jumped 30 percent after announcing late Thursday that Liberty Media Corp. had offered to buy the company for $1 billion in cash.

Stock indexes have been staying within a relatively small range since a May 4 plunge triggered by a sharp drop in oil prices. The Dow fell more than 200 points in two days. After several weeks of waffling, the index is trading slightly above where it was after that two-day fall.

May is traditionally a weak month for the stock market. Traders have little to base buying and selling decisions on with corporate earnings season officially over and economic news scarce. Trading has been relatively light.

A stronger U.S. dollar has also hurt stocks. The dollar rose against the euro Friday after the Fitch ratings agency downgraded Greece's debt three notches further into junk status, escalating worries about the European debt crisis.

In recent months, markets have fallen when the dollar rises against the euro because the stronger U.S. currency has signaled that European countries are still struggling to get their debt under control.

"A stronger dollar and a stronger U.S. market can coincide, but not when the U.S. economic data are weak," said Quincy Krosby, chief market strategist for Prudential Financial. "This has been a stronger dollar that has come because of another currency weakening, not a stronger U.S. economy."

Concerns about the strength of the economy pushed government bond prices higher as investors sought out safer assets. The yield on the benchmark 10-year Treasury note fell to 3.15 percent from 3.18 percent late Thursday. Bond yields fall when their prices rise.

There were a few other notable exceptions to the downward trend. Software company Salesforce.com Inc. rose 8 percent, the most of any stock in the S&P 500, after its first-quarter profit beat expectations. Movie rental and streaming company Netflix Inc. gained 1.3 percent.

Two stocks fell for every one that rose on the New York Stock Exchange. Consolidated volume came to 3.6 billion shares.

0143


----------



## bigdog

Source: http://finance.yahoo.com

Four stocks fell for each one that rose on the New York Stock Exchange. Volume was 3.4 billion shares. 

After three days of bad news about Europe's debt crisis sent Asian and European markets down Monday, it was Wall Street's turn.

The Dow Jones industrial average fell as many as 180 points before paring back some of its losses. Another steep downgrade of Greece's credit rating, a warning on Italy's debt and a major defeat of Spain's ruling party caused new worries about Europe's debt crisis.

That sent the euro lower against the dollar. A stronger dollar makes it more expensive for other countries to buy U.S. exports, hurting U.S. companies that sell goods abroad. Fears that Europe's debt troubles could escalate, as they did last year when Greece melted down, sent stocks tumbling across the globe.

The dollar rose 0.6 percent against an index of global currencies Monday. The euro dipped briefly to its lowest level against the dollar in two months.

The bad news began late Friday, when the Fitch ratings agency downgraded Greece's debt further into junk status. That gave investors more reason to fear that the country will need more help managing its debts beyond the emergency loan package it received last year.


*The NYSE DOW NYSE DOW closed LOWER -130.78 points -1.05% on Monday May 23*
Sym .......Last .......Change.......... 
Dow 12,381.26 -130.78 -1.05% 
Nasdaq 2,758.90 -44.42 -1.58% 
S&P 500 1,317.37 -15.90 -1.19% 
30-yr Bond 4.2740% -0.0250  

NYSE Volume 3,778,081,250  (prior 4,070,045,500) 
Nasdaq Volume 1,815,271,000  (prior 1,798,408,625) 

*Europe*
Symbol... ......Last .....Change.......  
FTSE 100 5,835.89 -112.60 -1.89% 
DAX 7,121.52 -145.30 -2.00% 
CAC 40 3,906.98 -83.87 -2.10%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,722.90 -84.80 -1.76% 
Shanghai Comp 2,775.52  -82.94 -2.90% 
Taiwan We... 8,747.51 -89.52 -1.01% 
Nikkei 225 9,460.63 -146.45 -1.52% 
Hang Seng 22,711.02 -488.37 -2.11% 
Straits Times 3,110.48 -58.06 -1.83% 

http://finance.yahoo.com/news/US-st...et=&ccode=&sec=topStories&pos=2&asset=&ccode=

*US stocks plunge on European debt worries

US stock markets sharply lower amid growing European debt worries *

Francesca Levy, AP Business Writer, On Monday May 23, 2011, 4:46 pm 

NEW YORK (AP) -- After three days of bad news about Europe's debt crisis sent Asian and European markets down Monday, it was Wall Street's turn.

The Dow Jones industrial average fell as many as 180 points before paring back some of its losses. Another steep downgrade of Greece's credit rating, a warning on Italy's debt and a major defeat of Spain's ruling party caused new worries about Europe's debt crisis.

That sent the euro lower against the dollar. A stronger dollar makes it more expensive for other countries to buy U.S. exports, hurting U.S. companies that sell goods abroad. Fears that Europe's debt troubles could escalate, as they did last year when Greece melted down, sent stocks tumbling across the globe.

The dollar rose 0.6 percent against an index of global currencies Monday. The euro dipped briefly to its lowest level against the dollar in two months.

The bad news began late Friday, when the Fitch ratings agency downgraded Greece's debt further into junk status. That gave investors more reason to fear that the country will need more help managing its debts beyond the emergency loan package it received last year.

Then Standard & Poor's said Saturday that Italy was in danger of having its debt rating lowered if it could not reduce its borrowing and improve economic growth. The next day, Spain's ruling Socialist party was roundly defeated in local elections, potentially jeopardizing the country's deficit-cutting program.

The Dow fell 130.78 points, or 1.1 percent, to close at 12,381.26. The Standard & Poor's 500 index fell 15.9, or 1.2 percent, to 1,317.37 All but a handful of stocks in the S&P 500 fell. The Nasdaq composite index fell 44.42, or 1.6 percent, to 2,758.9.

European markets also closed sharply lower. The FTSE 100 index of leading British shares fell 1.9 percent. Germany's DAX lost 2 percent. The CAC-40 in France was 2 percent lower.

While stocks are reacting strongly to the weekend's headlines, investors are not selling corporate bonds. If they were, it would signal that investors were growing wary of risk, said Jack Ablin, chief investment officer at Harris Private Bank.

"There's a short-term perception of risk, but I'm not viewing it as necessarily lasting," said Ablin.

Still, as investors sought safer assets, the yield on the 10-year Treasury note went as low as 3.10 percent, its lowest level of the year. The yield moved back up to 3.13 percent in afternoon trading, slightly below the 3.15 percent it traded at late Friday. Bond yields fall when their prices rise.

Some analysts think a downturn in stocks was overdue. Markets have wobbled over the past few weeks, but the Dow is still up 7 percent this year. The index has shrugged off revolutions in the Arab world, attempts by China and other emerging markets to slow growth and the nuclear crisis in Japan. Now that the U.S. corporate earnings season is over, global news has become the focus.

"There's not a lot of good news," said Randy Bateman, president of Huntington Asset Advisors. "Investors needed an excuse to pull back."

Downgrades of sovereign debt can shock world markets when they're first announced. Recently, debt downgrades have had a short-term effect. Moody's downgraded Spain's debt on March 10. The Ibex 35 sank 1.3 percent on the news, but recovered its losses within days.

S&P downgraded its debt outlook for the U.S. on April 17 from stable to negative, meaning it could lower the country's debt rating in the future. The warning sent the Dow down 240 points in morning trading, but it recovered the next day.

Four stocks fell for each one that rose on the New York Stock Exchange. Volume was 3.4 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Continued worries about Europe's lingering debt crisis overshadowed a small rebound in oil prices and pushed stocks slightly lower on Tuesday.

Oil rose nearly $2 to $99.59 per barrel after major banks raised their forecasts for crude prices. Goldman Sachs, J.P. Morgan and Morgan Stanley analysts predicted a rise in global demand would drive oil prices higher later this year. Goldman analysts say oil prices could reach $135 a barrel by the end of 2012.

Stocks swung between gains and losses throughout the day, with Chevron Corp. and other energy companies posting the largest gains. Energy companies in the S&P 500 rose 1.3 percent, the most of the ten industry groups in the index.

The Dow Jones industrial average fell 25.05 points, or 0.2 percent, to close at 12,356.21. The Standard & Poor's 500 index fell 1.09 point to 1,316.28. The Nasdaq composite fell 12.74, or 0.5 percent, to 2,746.16.

*The NYSE DOW NYSE DOW closed LOWER -25.05 points -0.20% on Tuesday May 24*
*Sym .......Last .......Change.......... *
Dow 12,356.21 -25.05 -0.20% 
Nasdaq 2,746.16 -12.74 -0.46% 
S&P 500 1,316.28 -1.09 -0.08% 
30-yr Bond 4.2590% -0.0150 

NYSE Volume 3,890,587,250 (prior 3,778,081,250)
Nasdaq Volume 1,900,227,625 (prior 1,815,271,000)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,858.41 +22.52 +0.39% 
DAX 7,150.66 +29.14 +0.41% 
CAC 40 3,916.88 +9.90 +0.25%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,708.30 -14.60 -0.31% 
Shanghai Comp 2,767.61 -6.96 -0.25%  
Taiwan We... 8,756.61 +9.10 +0.10% 
Nikkei 225 9,477.17 +16.54 +0.17% 
Hang Seng 22,730.78 +19.76 +0.09% 
Straits Times 3,113.09 +2.61 +0.08% 

http://finance.yahoo.com/news/Stock...9.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks slip as worries over Europe linger

US stocks end slightly lower as worries remain over Europe; energy stocks gain *

Francesca Levy and Matthew Craft, AP Business Writers, On Tuesday May 24, 2011, 5:01 pm 

NEW YORK (AP) -- Continued worries about Europe's lingering debt crisis overshadowed a small rebound in oil prices and pushed stocks slightly lower on Tuesday.

Oil rose nearly $2 to $99.59 per barrel after major banks raised their forecasts for crude prices. Goldman Sachs, J.P. Morgan and Morgan Stanley analysts predicted a rise in global demand would drive oil prices higher later this year. Goldman analysts say oil prices could reach $135 a barrel by the end of 2012.

Stocks swung between gains and losses throughout the day, with Chevron Corp. and other energy companies posting the largest gains. Energy companies in the S&P 500 rose 1.3 percent, the most of the ten industry groups in the index.

The Dow Jones industrial average fell 25.05 points, or 0.2 percent, to close at 12,356.21. The Standard & Poor's 500 index fell 1.09 point to 1,316.28. The Nasdaq composite fell 12.74, or 0.5 percent, to 2,746.16.

Stocks had been on a tear for the first four months of the year, lifted by stronger earnings reports, an improving job market and other signs of economic recovery. But all three major indexes have lost more than 3.5 percent this month, even as earnings remain strong. Widespread optimism has been shoved aside by a host of concerns, especially the impact of higher oil prices on consumer spending and the risk that Europe's debt troubles could get worse.

Markets faced more troubling news about Europe on Tuesday, when Greece's main opposition party said it opposed the government's latest attempts to reduce debt. The news further dampened hopes that the country might be able to repair its finances enough to get another loan package from the International Monetary Fund.

Ratings agency Moody's also warned that a restructuring of Greece's debt would be considered a default. That would cause borrowing costs for other debt-strapped European countries to soar.

Uri Landesman, president of hedge fund manager Platinum Partners, said a Greek default could start a chain reaction affecting larger countries like Spain -- the fourth-largest economy in Europe -- wreaking havoc on the global economy.

"If you had a Spanish default, there wouldn't be a single world bank not affected," Landesman said.

U.S. banks had $187 billion at stake in Spain as of the end of last September, according to the most recent data from the Bank of International Settlements. The amount includes holdings of government debt, derivative contracts and other commitments.

European stocks managed to recover from Monday's declines, in part because of a reassuring report from Germany that business optimism was holding steady.

Both Germany's DAX and England's FTSE 100 ended the day 0.4 percent higher. France's CAC-40 added 0.3 percent. The euro also rose slightly against the dollar after falling to a two-month low Monday.

The U.S. Commerce Department reported that sales of new homes rose slightly in April, but at a pace far below what would be normal in a healthy housing market. New home sales rose to an annual rate of 323,000 from 300,000 in March.

New homes are unappealing to budget-conscious families because their median price is nearly 31 percent higher than previously-occupied homes. That's twice the price difference typical of a healthy economy. At their current rate, new-home sales are on track to experience a sixth straight year of declines.

Energy company El Paso Corp. rose 6 percent, the most of any stock in the S&P 500, after saying it plans to split itself into two publicly-traded businesses by the end of this year.

AutoZone Inc. rose 6 percent after the specialty retailer's earnings jumped 12 percent on strong sales of its Duralast auto parts.

Stanley Black & Decker Inc. fell 2 percent after law firm Goldfarb Branham LLP announced they were investigating the company's board of directors over questions about CEO compensation.

Medtronic Inc. fell 1 percent after its earnings fell short of forecasts.

Falling shares outpaced rising ones by a small margin on the New York Stock Exchange. Trading volume was 3.6 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

The oil rally is on again.

Stocks closed higher Wednesday for the first day this week as rising oil prices offset worries about the global economic recovery. Oil rose nearly $2 to settle at $101.32 per barrel, pushing energy stocks higher.

Cabot Oil and Gas Corp. led the S&P 500, rising 7 percent. Higher prices for copper, silver and other commodities lifted miners and other material companies. Freeport-McMoRan Copper & Gold Inc. gained 2 percent.

The Dow Jones industrial average rose 38.45 points, or 0.3 percent, to close at 12,394.66. The Standard & Poor's 500 index rose 4.19, or 0.3 percent, to 1,320.47. The Nasdaq composite rose 15.22, or 0.6 percent, to 2,761.38.

Markets have been battered in recent days by new worries over Europe's debt crisis. The last time stocks closed higher was Thursday, when investors welcomed a blockbuster initial public offering by the social networking site LinkedIn Corp.

Greece's government and opposition party failed late Tuesday to reach agreement on how to pare the country's debts, adding to the uncertainty surrounding Greece's financial future. Many analysts believe Greece will eventually have to restructure its debt, possibly by extending interest payments or lowering interest rates.

Without that restructuring, Greece might default. That would cause a domino effect, raising borrowing rates for larger European countries and hampering the world economy.

*The NYSE DOW NYSE DOW closed HIGHER +38.45 points +0.31%  on Wednesday May 25*
Sym .......Last .......Change.......... 
Dow 12,394.66 +38.45 +0.31% 
Nasdaq 2,761.38 +15.22 +0.55% 
S&P 500 1,320.47 +4.19 +0.32% 
30-yr Bond 4.2820% +0.0230 

NYSE Volume 4,116,076,250  (prior 3,890,587,250)
Nasdaq Volume 1,914,069,500 (prior 1,900,227,625)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,870.14 +11.73 +0.20% 
DAX 7,170.94 +20.28 +0.28% 
CAC 40 3,928.99 +12.11 +0.31%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,661.60 -46.70 -0.99% 
Shanghai Comp 2,742.17 -24.89 -0.90% 
Taiwan We... 8,727.09 -29.52 -0.34% 
Nikkei 225 9,422.88 -54.29 -0.57%  
Hang Seng 22,747.28 +16.50 +0.07% 
Straits Times 3,118.65 +5.56 +0.18%  

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks turn higher as crude oil tops $100 a barrel

Stocks reverse losses as oil gains offset concerns about Europe and weak factory orders *

Francesca Levy and Matthew Craft, AP Business Writers, On Wednesday May 25, 2011, 4:58 pm EDT 

NEW YORK (AP) -- The oil rally is on again.

Stocks closed higher Wednesday for the first day this week as rising oil prices offset worries about the global economic recovery. Oil rose nearly $2 to settle at $101.32 per barrel, pushing energy stocks higher.

Cabot Oil and Gas Corp. led the S&P 500, rising 7 percent. Higher prices for copper, silver and other commodities lifted miners and other material companies. Freeport-McMoRan Copper & Gold Inc. gained 2 percent.

The Dow Jones industrial average rose 38.45 points, or 0.3 percent, to close at 12,394.66. The Standard & Poor's 500 index rose 4.19, or 0.3 percent, to 1,320.47. The Nasdaq composite rose 15.22, or 0.6 percent, to 2,761.38.

Markets have been battered in recent days by new worries over Europe's debt crisis. The last time stocks closed higher was Thursday, when investors welcomed a blockbuster initial public offering by the social networking site LinkedIn Corp.

Greece's government and opposition party failed late Tuesday to reach agreement on how to pare the country's debts, adding to the uncertainty surrounding Greece's financial future. Many analysts believe Greece will eventually have to restructure its debt, possibly by extending interest payments or lowering interest rates.

Without that restructuring, Greece might default. That would cause a domino effect, raising borrowing rates for larger European countries and hampering the world economy.

Japan's government reported that the country's exports fell by 12.5 percent in April after the March 11 earthquake and tsunami shuttered factories and forced manufacturers to stop production. Japan's auto shipments were particularly hurt, dropping 67 percent. The report added to concerns that the global economy is a long way from returning to health.

The drop in Japanese exports hit orders for long-lasting goods in the U.S. The Commerce Department said companies ordered fewer computers, heavy machines, cars and airplanes from factories in April. The 3.8 percent drop was the biggest in 6 months, reflecting a decline in U.S. business investment.

Stocks had been on a steady climb since last August until the Japanese catastrophe shook global financial markets in March. Strong corporate earnings sent stocks back up in April, but markets have stalled in the past three weeks. The S&P 500 closed at 1,363 on April 29, its highest level of the year, and has drifted lower ever since.

Some analysts say the market may have been rising too far, too fast since the beginning of the year, making stocks seem expensive. The Dow is still up 7 percent for the year. The S&P 500 is up 5 percent.

"A pullback in the market is probably healthy," said Michael Sansoterra, portfolio manager at Silvant Capital Management.

Fertilizer company CF Industries rose 3 percent a day after a JPMorgan upgraded the stock, citing the company's good cash flow and positive predictions for the agriculture industry.

Martha Stewart Living Omnimedia jumped 24 percent. The company announced that it had hired the Blackstone Group as an adviser, triggering speculation the whole company will be put up for sale.

Retail stocks struggled. Polo Ralph Lauren Corp. sank 11 percent after reporting that higher costs pushed profit down 36 percent. Discount retailer Costco Wholesale Corp. slipped 1 percent after reporting earnings that missed analysts' estimates.

American International Group Inc. fell 4 percent to $28.28 as the U.S. Treasury Department sold some of its stake in the company. Treasury said it would sell 300 million AIG shares for $29 each, making a small profit. The price was set late Tuesday at the low end of the government's projected range.

Roughly two shares rose for every one that fell on the New York Stock Exchange. Trading volume was 3.7 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Signs of a sluggish economic recovery sent government bond yields to their lowest level in a year Thursday. But strong earnings and a plea to push Microsoft's CEO aside helped push stocks higher.

Microsoft Corp. rose 2 percent after well-known hedge-fund manager David Einhorn called for the tech giant's board to replace CEO Steve Ballmer. Einhorn was quoted as saying at a conference late Wednesday that Ballmer's management was keeping the company's stock down.

Stocks reversed early losses and bond yields remained near their lowest level in a year after two reports suggested that the U.S. jobs market is recovering more slowly than economists anticipated.

The Dow Jones industrial average rose 8.10 points to close at 12,402.76. It was the second day of gains for the Dow after three days of losses driven by new concerns about Greece's debt crisis.

*The NYSE DOW NYSE DOW closed HIGHER  +8.10 points +0.07% on Thursday May 26*
Sym .......Last .......Change.......... 
Dow 12,402.76 +8.10 +0.07% 
Nasdaq 2,782.92 +21.54 +0.78% 
S&P 500 1,325.69 +5.22 +0.40%  
30-yr Bond 4.2200% -0.0620 

NYSE Volume 3,777,193,000  (prior 4,116,076,250) 
Nasdaq Volume 1,927,562,250  (prior 1,914,069,500)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,880.99 +10.85 +0.18%  
DAX 7,114.09 -56.85 -0.79% 
CAC 40 3,917.22 -11.77 -0.30% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,735.10 +73.50 +1.58%  
Shanghai Comp 2,735.21 -6.53 -0.24%  
Taiwan We... 8,788.40 +61.31 +0.70% 
Nikkei 225 9,562.05 +139.17 +1.48% 
Hang Seng 22,900.79 +153.51 +0.67% 
Straits Times 3,121.21 +2.56 +0.08%  

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks edge up, shaking off weak economic news

Stocks turn higher, shrugging off reports on job market and growth; Microsoft jumps*

Daniel Wagner, AP Business Writer, On Thursday May 26, 2011, 5:00 pm 

Signs of a sluggish economic recovery sent government bond yields to their lowest level in a year Thursday. But strong earnings and a plea to push Microsoft's CEO aside helped push stocks higher.

Microsoft Corp. rose 2 percent after well-known hedge-fund manager David Einhorn called for the tech giant's board to replace CEO Steve Ballmer. Einhorn was quoted as saying at a conference late Wednesday that Ballmer's management was keeping the company's stock down.

Stocks reversed early losses and bond yields remained near their lowest level in a year after two reports suggested that the U.S. jobs market is recovering more slowly than economists anticipated.

The Dow Jones industrial average rose 8.10 points to close at 12,402.76. It was the second day of gains for the Dow after three days of losses driven by new concerns about Greece's debt crisis.

Tiffany & Co. rose 8 percent, the most of any stock in the S&P 500 index, after the company said its income rose 25 percent on higher revenue across all regions. The results easily beat analysts' expectations. The jewelry maker also raised its forecast for the year above current Wall Street estimates.

The Standard & Poor's 500 index rose 5.22, or 0.4 percent, to 1,325.69. The Nasdaq composite rose 21.54, or 0.8 percent, to 2,782.92.

In a revised look at economic growth, the government reported that the U.S. economy grew 1.8 percent in the January-March quarter. Economists expected an upward revision to 2.2 percent. Gasoline prices that reached $4 a gallon and sharp cutbacks in government spending hindered growth.

More people applied for unemployment benefits last week, the first increase in three weeks. The number of people seeking benefits rose by 10,000 to 424,000. Analysts expected a drop.

Employers stepped up hiring this spring, but some economists worry that rising applications for unemployment benefits suggest that the hiring is uneven. The next look at the job market comes June 1, when payroll processor ADP provides its monthly employment report.

The weaker than expected economic news drew investors into government bonds, sending the yield on the 10-year Treasury note as low as 3.06 percent, its lowest level this year. It was trading at 3.15 percent shortly before the economic reports came out. Bond yields fall when their prices rise.

"People are nervous about what's happening in Europe, nervous about whether or not the economic recovery has enough wind left in its sails," said Brian Jacobsen, chief portfolio strategist at Wells Fargo Advantage Funds.

Concerns about the European debt crisis have caused the market to wobble in recent weeks as the likelihood seemed to increase that Greece would need to renegotiate its debts, even after receiving a package of emergency loans last year. Greece's debt troubles sent global markets reeling last spring as investors shunned the debt of other European nations. Investors are fearful that scenario might repeat itself.

Stocks have been falling throughout May, erasing nearly all of the gains made in April on stronger corporate earnings reports. The S&P 500 has lost 3 percent this month after reaching a 2011 high of 1,363 on April 29. It's still up 5.4 percent for the year.

Computer Sciences Corp. fell 13 percent, the most in the S&P 500, after the government contractor reported disappointing results and a weak earnings forecast late Wednesday. CSC also announced that its audit committee has started an investigation into accounting issues, some of which are being investigated by the Securities and Exchange Commission.

More than two shares rose for every one that fell on the New York Stock Exchange. Trading volume was 3.5 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

All three major stock indexes fell slightly for the week, the fourth week in a row of declines. The Dow lost 0.6 percent, and the S&P 500 and Nasdaq each lost 0.2 percent. The last time stocks fell for four weeks in a row was February 2010. Still, the Dow is up 7.5 percent for the year. The S&P 500 is up 5.8 percent, the Nasdaq 5.4 percent.

Maybe American consumers are better off than everybody thought.

A key measure of consumer confidence rose unexpectedly this month. Meanwhile, Americans' spending and income rose in April, giving stocks their third straight day of gains on Friday. The market was still down slightly for the week.

The Thomson Reuters/University of Michigan Consumer Sentiment index rose to 74.3 in May, above analysts' estimates of 70. Concerns about higher gas prices and inflation knocked the gauge down in March and April.

Gas prices have come down in May after reaching nearly $4 last month, giving a lift to the closely watched measure of how people feel about the economy. That raised hopes that people might be willing to spend more.

"That's what a 25-cent drop in gas prices will do," David Ader, bond strategist at CRT Capital Group, wrote in an email to clients.

*The NYSE DOW NYSE DOW closed HIGHER +38.82 points +0.31%  on Friday May 27*
Sym .......Last .......Change.......... 
Dow 12,441.58 +38.82 +0.31% 
Nasdaq 2,796.86 +13.94 +0.50% 
S&P 500 1,331.10 +5.41 +0.41% 
30-yr Bond 4.2400% +0.0200 

NYSE Volume 3,131,133,250 (prior  3,777,193,000)
Nasdaq Volume 1,670,139,875  (prior 1,927,562,250)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,938.87 +57.88 +0.98% 
DAX 7,163.47 +49.38 +0.69% 
CAC 40 3,950.98 +33.76 +0.86%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,760.30 +25.20 +0.53%  
Shanghai Comp 2,709.62 -26.90 -0.98%  
Taiwan We... 8,810.00 +21.60 +0.25%  
Nikkei 225 9,521.94 -40.11 -0.42%  
Hang Seng 23,118.07 +217.28 +0.95% 
Straits Times 3,135.52 +11.82 +0.38% 

http://finance.yahoo.com/news/Rising-consumer-confidence-apf-1675001439.html?x=0

*Rising consumer confidence lifts stocks

Stocks rise for a third day on gains in consumer confidence and spending; Dow rises 39 *

Matthew Craft and Seth Sutel, AP Business Writers, On Friday May 27, 2011, 4:53 pm EDT 

NEW YORK (AP) -- Maybe American consumers are better off than everybody thought.

A key measure of consumer confidence rose unexpectedly this month. Meanwhile, Americans' spending and income rose in April, giving stocks their third straight day of gains on Friday. The market was still down slightly for the week.

The Thomson Reuters/University of Michigan Consumer Sentiment index rose to 74.3 in May, above analysts' estimates of 70. Concerns about higher gas prices and inflation knocked the gauge down in March and April.

Gas prices have come down in May after reaching nearly $4 last month, giving a lift to the closely watched measure of how people feel about the economy. That raised hopes that people might be willing to spend more.

"That's what a 25-cent drop in gas prices will do," David Ader, bond strategist at CRT Capital Group, wrote in an email to clients.

Both personal income and spending rose 0.4 percent in April, in line with what economists expected, according to the Commerce Department. Still, higher prices for food and gas ate up most of the gains in income. The report from the Commerce Department lags by a month, so the recent decline in gas prices isn't reflected in those figures.

The Dow Jones industrial average rose 38.82 points, or 0.3 percent, to 12,441.58. The Standard & Poor's 500 index rose 5.41 points, or 0.4 percent, to 1,331.10. The Nasdaq composite rose 13.94 points, or 0.5 percent, to 2,796.86.

All three major stock indexes fell slightly for the week, the fourth week in a row of declines. The Dow lost 0.6 percent, and the S&P 500 and Nasdaq each lost 0.2 percent. The last time stocks fell for four weeks in a row was February 2010. Still, the Dow is up 7.5 percent for the year. The S&P 500 is up 5.8 percent, the Nasdaq 5.4 percent.

The week started with a batch of bad news from Europe. Another downgrade of Greece's already weak credit rating, a warning on Italy's debt and a defeat of Spain's ruling party deepened worries about Europe's fiscal crisis. The Dow fell 131 points on Monday after the news.

U.S. stock indexes hit their highest levels of the year April 29 following a strong run of corporate earnings. The S&P 500 has lost 2.4 percent since then as Greece struggles to avoid default and U.S. economic forecasts were revised lower, partly due to high gas prices.

Marvell Technology Group Ltd. jumped 11 percent. The maker of chips for data-storage and Blackberry's smartphones reported a slight drop in earnings. But Marvell's CEO forecast higher sales in the current quarter.

Another chipmaker, Broadcom Corp. rose 5 percent. FBR Capital Markets said Broadcom should benefit from growing demand for smartphones. FBR put the company on its list of top picks.

CVS Caremark Corp. rose 2 percent after the pharmacy benefits company won a three-year contract from the Blue Cross Blue Shield Federal Employee Program.

Nearly three stocks rose for every one that fell on the New York Stock Exchange.

Trading was thin ahead of the Memorial Day holiday. Consolidated volume on the NYSE was 2.8 billion shares. Markets will be closed Monday.

0729


----------



## bigdog

Source: http://finance.yahoo.com

*US Markets was closed Monday for the Memorial Day holiday.*

*The NYSE DOW Markets was closed Monday for the Memorial Day holiday on Monday May 30*
Sym .......Last .......Change.......... 
Dow 12,441.58  
Nasdaq 2,796.86  
S&P 500 1,331.10 
30-yr Bond 4.2400%  

NYSE Volume 3,131,733,750   
Nasdaq Volume 1,670,142,250 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,938.87 closed for holiday 
DAX 7,160.30 -3.17 -0.04% 
CAC 40 3,942.53 -8.45 -0.21% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,746.10 -14.20 -0.30% 
Shanghai Comp 2,706.12 -3.83 -0.14%  
Taiwan We... 8,823.68 +13.68 +0.16%  
Nikkei 225 9,504.97 -16.97 -0.18% 
Hang Seng 23,184.32 +66.25 +0.29% 
Straits Times 3,140.60 +5.08 +0.16%


----------



## bigdog

Source: http://finance.yahoo.com

That screeching sound you heard in May? That was the stock market.

While the month ended with four days of gains in most of the indexes, concerns that high gas prices, tornadoes and flooding in the South, the post-natural disaster slowdown in Japan and a growing debt crisis in Europe sent the Standard and Poor's 500 stock index down 1.4 percent in May. That decline followed a 2.85 percent gain in April, which followed gains that set the fastest pace in the first quarter since 1998. Before this month, stocks were boosted by higher corporate earnings, increased business spending and a global economic expansion.

May was the first down month for the S&P since August 2010.

Other risky assets also saw declines in May, following a year of increases. The prices of commodities like oil, cattle and coffee fell by an average of 7 percent. Meanwhile, Treasury bond prices, which tend to rise when investors fear that the economy is slowing, rose to near their highest level of the year.

For Tuesday, the stock market ended higher, on signs that Germany might drop its demands for an early rescheduling of Greek bonds, paving the way for a deal that could prevent Greece from defaulting on its debt. The S&P index gained 14.10, or 1.1 percent, to 1,345.20. The Dow Jones industrial average added 128.21, or 1 percent, to 12,569.79. And the Nasdaq composite rose 38.44, or 1.4 percent, to 2,835.30.

These gains came in spite of another grim report on the U.S. housing market. Home prices in in 12 of the 20 cities tracked by the Standard & Poor's/Case-Shiller index dropped in March to the lowest levels since the housing bubble popped in 2006. "Home prices continue on their downward spiral with no relief in sight," said David Blitzer, chairman of the index committee at S&P Indices.

*The NYSE DOW NYSE DOW closed HIGHER  +128.21 points +1.03% on Tuesday May 31*
Sym .......Last .......Change.......... 
Dow 12,569.79 +128.21 +1.03% 
Nasdaq 2,835.30 +38.44 +1.37% 
S&P 500 1,345.20 +14.10 +1.06%  
30-yr Bond 4.2160% -0.0240  

NYSE Volume 4,696,241,500  (prior 3,131,133,250)
Nasdaq Volume 2,589,172,750  (prior 1,670,139,875)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,989.99 +51.12 +0.86% 
DAX 7,293.69 +133.39 +1.86% 
CAC 40 4,006.94 +64.41 +1.63%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,788.90 +42.80 +0.90% 
Shanghai Comp 2,743.72 +37.35 +1.38% 
Taiwan We... 8,988.84 +165.16 +1.87% 
Nikkei 225 9,693.73 +188.76 +1.99% 
Hang Seng 23,684.13 +499.81 +2.16% 
Straits Times 3,159.93 +19.33 +0.62%  

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks end a down month on an up note

Hopes for Greek aid deal push stocks higher but indexes down for the month of May *

David K. Randall and Stan Choe, AP Business Writers, On Tuesday May 31, 2011, 5:38 pm

NEW YORK (AP) -- That screeching sound you heard in May? That was the stock market.

While the month ended with four days of gains in most of the indexes, concerns that high gas prices, tornadoes and flooding in the South, the post-natural disaster slowdown in Japan and a growing debt crisis in Europe sent the Standard and Poor's 500 stock index down 1.4 percent in May. That decline followed a 2.85 percent gain in April, which followed gains that set the fastest pace in the first quarter since 1998. Before this month, stocks were boosted by higher corporate earnings, increased business spending and a global economic expansion.

May was the first down month for the S&P since August 2010.

Other risky assets also saw declines in May, following a year of increases. The prices of commodities like oil, cattle and coffee fell by an average of 7 percent. Meanwhile, Treasury bond prices, which tend to rise when investors fear that the economy is slowing, rose to near their highest level of the year.

For Tuesday, the stock market ended higher, on signs that Germany might drop its demands for an early rescheduling of Greek bonds, paving the way for a deal that could prevent Greece from defaulting on its debt. The S&P index gained 14.10, or 1.1 percent, to 1,345.20. The Dow Jones industrial average added 128.21, or 1 percent, to 12,569.79. And the Nasdaq composite rose 38.44, or 1.4 percent, to 2,835.30.

These gains came in spite of another grim report on the U.S. housing market. Home prices in in 12 of the 20 cities tracked by the Standard & Poor's/Case-Shiller index dropped in March to the lowest levels since the housing bubble popped in 2006. "Home prices continue on their downward spiral with no relief in sight," said David Blitzer, chairman of the index committee at S&P Indices.

Oliver Pursche, president of Gary Goldberg Financial Services, said the report didn't hurt investors' confidence much because their expectations for the U.S. housing market were already low.

"There's no shock factor there," Pursche said. "We knew it was going to be bad, and it is."

Even so, the month of May was an unhappy one for stock holders for the second year in a row -- although the losses weren't nearly as bad as they were last year. Just like 2010, when the S&P index lost 8 percent in May, Greece said that it will need outside help from other European Union countries to meet its debt payments. And in the U.S., the domestic economy sputtered again. Thirteen economic indicators, ranging from personal spending to manufacturing orders, were weaker than economists had predicted, a sign investors and analysts say indicates that high gas prices are slowing growth more than anticipated.

Some investors believe that May was merely a short-term dip--and given the news of the month, markets could have seen bigger declines. "(Stocks) held up reasonably well this month, given all that the market had to digest in terms of worries," said David Kelly, chief market strategist at J.P. Morgan Funds.

Kelly and others say that the lingering good feelings from a strong earnings season, where the average company beat Wall Street's quarterly earnings expectations by more than 6 percent, was part of the reason the broad market didn't decline further. Another reason, Kelly says is that the belief "in the market that any of the slowdown in the economy is relatively temporarily."

One-time factors like bad weather and problems with getting parts from Japan, along with a sharp upturn in investments by private companies, all suggest that the economy will continue to grow this year despite recent signs of weakness, Kelly said.

The few industries that performed well in May were so-called defensive ones like health care and utilities that have stable earnings because the items they sell are not luxuries. Consumer staples -- companies like PepsiCo and Costco Wholesale that sell everyday items like soda and diapers -- rose nearly 2.5 percent, the most out of any group.

June should provide some answers as to whether the economy truly is slowing down. Economists expect that Friday's jobs report will show that the unemployment rate fell to 8.9 percent in May from 9.0 percent in April. And at the end of the month, the Federal Reserve will end its bond-buying stimulus program, QE2. The program has kept interest rates low, which makes owning riskier assets, like stocks or commodities, more attractive.

Some investors believe that the end of the Fed's stimulus program is already reflected in stock prices. "The market looks ahead six to nine months, so if the market thought the end of QE2 was going to be harmful we would have felt it already," said Peter Maris, the founder of Resource Financial Group, a financial adviser in Wilmette, Ill.

The S&P index has risen 7 percent this year, before dividends. At this point would take an 87.56 point drop for it to turn negative for the year. The Dow would need to drop 992.28 points to erase its 8.6 percent gain for the year.


----------



## bigdog

Source: http://finance.yahoo.com

Fears that the economy is stalling sent the Dow Jones industrial average down 280 points Wednesday, erasing more than a quarter of the stock market's gains for the year. Treasury bond yields fell to their lowest level since December as traders put a higher value on safer investments.

The Dow Jones industrial average dropped 279.65 points, or 2.2 percent, to 12,290.14. It was the biggest point drop since June 4 of last year, and the largest percentage drop since August. The S&P index lost 30.65, or 2.3 percent, to 1,314.55. The Nasdaq composite fell 66.11, or 2.3 percent, to 2,769.19.

The yield on the benchmark 10-year Treasury note fell to 2.95 percent. Bond yields fall when prices rise.

Doubts about the economy's strength that built in May were compounded by weaker-than-expected reports on manufacturing and jobs. The Institute for Supply Management's manufacturing index fell to 53.5 in May from 60.4 in April. A reading of more than 50 indicates the manufacturing industry is growing, but the index had been as high as 61.4 in February. Private employers added just 38,000 jobs in May, down from 177,000 in April, according to payroll processor ADP. Analysts had expected 180,000 new jobs.

"It looks like this recovery has hit its second `soft patch,' which for a recovery that is less than two years old is troubling," said Paul Ashworth, chief U.S. economist for Capital Economics.

*The NYSE DOW NYSE DOW closed LOWER -279.65 points  -2.22%  on Wednesday June 1*
Sym .......Last .......Change.......... 
Dow 12,290.14 -279.65 -2.22% 
Nasdaq 2,769.19 -66.11 -2.33% 
S&P 500 1,314.55 -30.65 -2.28% 
30-yr Bond 4.1510% -0.0650 

NYSE Volume 4,696,241,500 (prior  4,973,220,500)
Nasdaq Volume 2,317,049,500  (prior 2,589,172,750) 

*Europe*
Symbol... ......Last .....Change.......  
FTSE 100 5,928.61 -61.38 -1.02% 
DAX 7,217.43 -76.26 -1.05% 
CAC 40 3,964.81 -42.13 -1.05%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,788.60 -0.30 -0.01%  
Shanghai Comp  2,743.97  +0.50 +0.02%  
Taiwan We... 9,062.35 +73.51 +0.82%  
Nikkei 225 9,719.61 +25.88 +0.27% 
Hang Seng 23,626.43 -57.70 -0.24%  
Straits Times 3,171.40 +11.47 +0.36%  

http://finance.yahoo.com/news/Fears...5.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Fears of economic slowdown hammer stocks

Stocks drop as manufacturing and business hiring lose momentum, adding to economic worries *

Stan Choe and David K. Randall, AP Business Writers, On Wednesday June 1, 2011, 5:37 pm EDT 

NEW YORK (AP) -- Fears that the economy is stalling sent the Dow Jones industrial average down 280 points Wednesday, erasing more than a quarter of the stock market's gains for the year. Treasury bond yields fell to their lowest level since December as traders put a higher value on safer investments.

The Dow Jones industrial average dropped 279.65 points, or 2.2 percent, to 12,290.14. It was the biggest point drop since June 4 of last year, and the largest percentage drop since August. The S&P index lost 30.65, or 2.3 percent, to 1,314.55. The Nasdaq composite fell 66.11, or 2.3 percent, to 2,769.19.

The yield on the benchmark 10-year Treasury note fell to 2.95 percent. Bond yields fall when prices rise.

Doubts about the economy's strength that built in May were compounded by weaker-than-expected reports on manufacturing and jobs. The Institute for Supply Management's manufacturing index fell to 53.5 in May from 60.4 in April. A reading of more than 50 indicates the manufacturing industry is growing, but the index had been as high as 61.4 in February. Private employers added just 38,000 jobs in May, down from 177,000 in April, according to payroll processor ADP. Analysts had expected 180,000 new jobs.

"It looks like this recovery has hit its second `soft patch,' which for a recovery that is less than two years old is troubling," said Paul Ashworth, chief U.S. economist for Capital Economics.

The manufacturing and jobs reports, plus a decline in automobile sales in May, led several economists to lower their expectations for the year. JP Morgan was among a handful of investment banks that revised down its estimate for GDP growth in the second quarter to 2 percent. The downgrade followed one the bank issued last week. The Dow was down nearly 180 points in midday trading and lost another 100 points after noon as asset management firms sent notes to their clients announcing their economic revisions.

The latest reports on retail sales, first-time applications for unemployment benefits and factory orders will be released Thursday and analysts say any additional signs of economic weakness could push the market even lower.

On the heels of those readings, the Labor Department's more comprehensive jobs report, which includes hiring by both private employers and the government, will be released Friday. The ADP figures include about 24 million workers at the 430,000 companies that use ADP to process their payrolls while the government's numbers capture the entire workforce of about 140 million. Analysts are already expecting those figures to be worse than they anticipated just a few weeks ago.

"As far as we can tell, employers have hugely overreacted to the surge in oil prices, which has slowed but not killed consumption," said Ian Shepherdson, chief U.S. economist for High Frequency Economics. The weak ADP results pushed him to cut his forecast for overall job growth in May to 75,000. He earlier had forecast Friday's report to show growth of 175,000 jobs.

Stock losses came across the market, with all 10 industry groups that make up the Standard and Poor's 500 index losing more than 1 percent. Companies that have benefited from expectations of worldwide growth were especially hard hit. Caterpillar, Alcoa, and Boeing all lost more than 3 percent.

The discouraging reports join a host of other news that has dampened hopes for a strong economic recovery and helped knock the S&P 500 down 1.4 percent in May. Still-high gas prices, a continued housing market decline, weaker-than-expected GDP and tepid consumer confidence -- along with concerns about debt problems in Europe and the debt ceiling in the U.S. -- have all weighed on markets.

Companies reporting results were not spared from the broad market drop. General Motors fell 5 percent after it said U.S. sales weakened in May. The car maker sold 221,192 vehicles, down 1.2 percent from a year earlier. It cited a decision to cut sales to rental car companies for the drop. Ford Motor Co. lost 4.6 percent after reporting similar declines.

Dollar General Corp. fell 9.3 percent after the discount store operator's first-quarter profit growth fell short of analysts' expectations. JoS. A. Bank Clothiers Inc. also reported first-quarter profit growth below analysts' expectations. The men's clothing maker fell 13 percent.

Five stocks fell for every one that rose on the New York Stock Exchange. Consolidated volume came to 4.4 billion shares. The Dow is still up 6.2 percent for the year, the S&P 500 4.5 percent


----------



## bigdog

Source: http://finance.yahoo.com

Weaker than expected sales reports from retailers and another large number of claims for unemployment benefits left stocks with a mixed finish on Thursday, a day after the Dow Jones industrial average took its biggest dive in nearly a year.

First-time applications for unemployment benefits, an indication of how many people are losing their jobs, fell slightly last week to 422,000. That was more than economists were expecting and well above the 375,000 level that signals that the economy is adding jobs.

"Companies are just not hiring the same number of workers that they laid off two years ago, and that's leading to a very stale jobs environment," said David Loesser, the president of the Estate Planners Group, a financial advisory firm in Washington Crossing, Pa.

The Dow Jones industrial average lost 41.59 points, or 0.3 percent, to close at 12,248.55 Thursday.

The S&P 500 recouped much of its losses from earlier in the day and ended down 1.61 points, or 0.1 percent, to 1,312.94. The Nasdaq composite was up for most of the day and finished with a gain of 4.12, or 0.2 percent, at 2,773.31.

*The NYSE DOW NYSE DOW closed LOWER -41.59 points -0.34% on Thursday June 2*
Sym .......Last .......Change.......... 
Dow 12,248.55 -41.59 -0.34%  
Nasdaq 2,773.31 +4.12 +0.15%  
S&P 500 1,312.94 -1.61 -0.12%  
30-yr Bond 4.2510% +0.1000 

NYSE Volume 4,313,875,000 (prior  4,696,241,500)
Nasdaq Volume 1,928,090,875  (prior 2,317,049,500)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,847.92 -80.69 -1.36% 
DAX 7,074.12 -143.31 -1.99% 
CAC 40 3,889.87 -74.94 -1.89%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,683.20 -105.40 -2.20% 
Shanghai Comp 2,705.18 -38.39 -1.40% 
Taiwan We... 8,991.36 -70.99 -0.78% 
Nikkei 225 9,555.04 -164.57 -1.69% 
Hang Seng 23,253.84 -372.59 -1.58% 
Straits Times 3,160.60 -12.27 -0.39%  

http://finance.yahoo.com/news/Stocks-mixed-on-weak-retail-apf-2102917595.html?x=0

*Stocks mixed on weak retail and jobless reports

Stocks close mixed on weak retail sales and another high reading on unemployment claims *

David K. Randall and Matthew Craft, AP Business Writer, On Thursday June 2, 2011, 4:59 pm EDT 

NEW YORK (AP) -- Weaker than expected sales reports from retailers and another large number of claims for unemployment benefits left stocks with a mixed finish on Thursday, a day after the Dow Jones industrial average took its biggest dive in nearly a year.

First-time applications for unemployment benefits, an indication of how many people are losing their jobs, fell slightly last week to 422,000. That was more than economists were expecting and well above the 375,000 level that signals that the economy is adding jobs.

"Companies are just not hiring the same number of workers that they laid off two years ago, and that's leading to a very stale jobs environment," said David Loesser, the president of the Estate Planners Group, a financial advisory firm in Washington Crossing, Pa.

The Dow Jones industrial average lost 41.59 points, or 0.3 percent, to close at 12,248.55 Thursday.

The S&P 500 recouped much of its losses from earlier in the day and ended down 1.61 points, or 0.1 percent, to 1,312.94. The Nasdaq composite was up for most of the day and finished with a gain of 4.12, or 0.2 percent, at 2,773.31.

Worries that the economic recovery was stalling caused a stock market rout on Wednesday. Payroll processor ADP said private employers added just 38,000 jobs in May, down from 177,000 in April. That, along with a sharply lower reading on a key manufacturing index, sent the Dow Jones industrial average down 280 points, the steepest fall since June 4 of last year.

A series of strong corporate profit reports gave the S&P 500 its best first quarter since 1998, but the index has lost 3.7 percent since April 29 as worries over the economy deepened. The index is still up 4.4 percent for the year.

Several retailers reported muted sales growth for May, adding to concerns that the U.S. economy is straining under higher costs for raw materials like oil and cotton. Companies that catered to middle and lower income shoppers said that higher food and gas prices cut into sales. Gap Inc. fell 4.1 percent after sales fell across all its brands. Target Corp. fell 1.3 percent after missing expectations as sales traffic slowed during the second half of the month.

Luxury retailer Saks Inc. was among the few companies in the category that rose. The company gained 1.3 percent after surpassing analyst's expectations.

Financial companies fell, though less than the overall stock market. Goldman Sachs dropped 1.3 percent after the bank received a subpoena from the Manhattan District Attorney's office to discuss its role in the financial crisis. The subpoena follows the April release of a Senate report that showed Goldman had steered investors toward mortgage securities it knew would likely fail.

Many investors are turning their focus to Friday, when the government's monthly employment report will be released. Economists expect that the unemployment rate will dip down to 8.9 percent from the current 9.0 percent.

Slightly more stocks fell than rose on the New York Stock Exchange. Trading volume was 3.9 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Evidence is piling up that the economic recovery has lost some of its vigor. That has deflated a stock market rally and pushed indexes down for five straight weeks, the longest losing streak since mid-2008.

So, what's next? Don't hold out hope for more help from the government, analysts say. Another round of stimulus spending isn't in the cards, the Fed has already slashed interest rates near zero and has said it will end its bond-buying program on schedule at the end of this month.

With high gas prices crimping consumer spending and companies still reluctant to hire, investors may have to settle for a stock market and an economic recovery that plod slowly along.

"The market is clearly getting used to uneven economic data," says Jeff Kleintop, chief market strategist at LPL Financial. "We've moved from a recovery phase to a more modest pace of economic growth."

A weak employment report spurred another stock sell-off Friday, two days after the Dow Jones industrial average had its worst drop in nearly a year. The Dow lost 97.29 points, or 0.8 percent, to close at 12,151.26.

The Standard & Poor's 500 index fell 12.78, or 1 percent, to 1,300.16. The Nasdaq composite fell 40.53, or 1.5 percent, to 2,732.78.

Each index lost 2.3 percent for the week. The last time there was a longer decline in the S&P 500, the market's most widely used benchmark, occurred during the six weeks ending July 11, 2008, before the worst days of the financial crisis.

*The NYSE DOW NYSE DOW closed LOWER-97.29 points -0.79%  on Friday June 3*
Sym .......Last .......Change.......... 
Dow 12,151.26 -97.29 -0.79% 
Nasdaq 2,732.78 -40.53 -1.46% 
S&P 500 1,300.16 -12.78 -0.97% 
30-yr Bond 4.2310% -0.0200 

NYSE Volume 4,070,807,750 (prior 4,313,875,000) 
Nasdaq Volume 1,980,615,250  (prior 1,928,090,875) 

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,855.01 +7.09 +0.12% 
DAX 7,109.03 +34.91 +0.49% 
CAC 40 3,890.68 +0.81 +0.02%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,666.60 -16.60 -0.35%  
Shanghai Comp 2,728.23 +23.05 +0.85% 
Taiwan We... 9,046.28 +54.92 +0.61%  
Nikkei 225 9,492.21 -62.83 -0.66% 
Hang Seng 22,949.56 -304.28 -1.31% 
Straits Times 3,145.67 -14.93 -0.47% 

http://finance.yahoo.com/news/US-st...7.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks post fifth straight week of losses

Stocks extend losing streak after government job report shows weak hiring in May *

Matthew Craft and Daniel Wagner, AP Business Writers, On Friday June 3, 2011, 5:30 pm EDT 

Evidence is piling up that the economic recovery has lost some of its vigor. That has deflated a stock market rally and pushed indexes down for five straight weeks, the longest losing streak since mid-2008.

So, what's next? Don't hold out hope for more help from the government, analysts say. Another round of stimulus spending isn't in the cards, the Fed has already slashed interest rates near zero and has said it will end its bond-buying program on schedule at the end of this month.

With high gas prices crimping consumer spending and companies still reluctant to hire, investors may have to settle for a stock market and an economic recovery that plod slowly along.

"The market is clearly getting used to uneven economic data," says Jeff Kleintop, chief market strategist at LPL Financial. "We've moved from a recovery phase to a more modest pace of economic growth."

A weak employment report spurred another stock sell-off Friday, two days after the Dow Jones industrial average had its worst drop in nearly a year. The Dow lost 97.29 points, or 0.8 percent, to close at 12,151.26.

The Standard & Poor's 500 index fell 12.78, or 1 percent, to 1,300.16. The Nasdaq composite fell 40.53, or 1.5 percent, to 2,732.78.

Each index lost 2.3 percent for the week. The last time there was a longer decline in the S&P 500, the market's most widely used benchmark, occurred during the six weeks ending July 11, 2008, before the worst days of the financial crisis.

Despite the market's recent slump, analysts say there are still plenty of bright spots in the economy including business spending and bank lending. The market could still manage to struggle higher this year, Kleintop says, but the climb from here will likely be a long and slow. Picture a jagged valley of dips and steps, not a straight shot up or down.

Investors will probably have to scale back their expectations for profits, much as economists from JPMorgan Chase, Goldman Sachs and other banks recently lowered their estimates for economic growth. Kleintop expects to see corporations cut their earnings estimates in the coming weeks. The news is sure to push their stocks lower. "There will be more days like (Friday)," Kleintop says.

Stocks had a strong start to the year, hitting their highest levels in nearly three years in late April. But the market has been sputtering since then as troubling signs emerged about the economy. Investors probably overreacted to strong corporate earnings at the start of the year, said Andrew Wilkinson, senior market analyst with Interactive Brokers.

"I think what investors need to do is get accustomed to a more sluggish pace of growth," Wilkinson says.

Employers added only 54,000 new workers in May, the fewest in eight months and well below what analysts were expecting, the Labor Department reported. Private companies hired the fewest new workers in nearly a year. The unemployment rate inched up to 9.1 percent from 9 percent.

Stocks fell sharply after the opening of trading but recovered some ground after a report from the Institute for Supply Management came out at midmorning. The group of purchasing executives said the economy's service sector grew in May for an 18th straight month. The pace of growth picked up slightly from the ISM report April, which was the worst in eight months.

Later in the morning European officials said Greece would receive the next installment of its emergency loan package, lifting some uncertainty about Greece's fiscal crisis. European stocks and the euro rose after the European Union, European Central Bank and the International Monetary Fund gave Greece more breathing room as it tries to service its debts.

The Labor Department's closely-watched monthly jobs report reinforced earlier signals that the U.S. economy is slowing. High gas and food prices have cut into consumer spending and the earthquake and tsunami disaster in Japan have hurt U.S. manufacturers by slowing down supplies of industrial parts.

The Dow plunged 280 points Wednesday, its worst drop in nearly a year, on a weak payrolls report from ADP and the biggest decline in a key manufacturing index since 1984. That combined with other weak readings on the economy prompted analysts to lower their projections for growth in 2011.

"We are clearly seeing a significant slowdown in economic activity, and a lot of that has to do with the effect of higher energy prices and the disruption from Japan," says David Kelly, chief market strategist with J.P. Morgan Funds.

Rising pessimism about the economy's health have some investors hoping the Federal Reserve will drum up another rescue package. The Fed's current $600 billion bond-buying effort has been credited with fuelling months of gains in the stock market since last August. That program, dubbed QE 2, ends this month. So will signs of sagging economic growth spur a QE 3?

Most economists doubt it.

"QE 3 isn't on the table," says Anthony Chan, chief economist at J.P. Morgan's private wealth unit. The economy isn't in as bad shape as it was last summer when the Fed hatched its bond-buying plan, Chan says. At the time, many worried about a double-dip recession, and weak inflation had the Fed fearing a spiral of falling prices known as deflation, a scourge of the Great Depression.

Now, rising gas prices have pinched consumer spending and have been blamed for weaker retail sales. The consumer price index has climbed 3.2 percent over the past year.

Newell Rubbermaid Inc. shares fell 12 percent after the company lowered its outlook for sales and earnings in 2011. Large retailers that sell the company's products are lowering their expectations for economic growth this year.

"Persistent softness in the U.S. economy and increased inflationary pressure have caused us to revise our outlook for the balance of the year," President and CEO Mark Ketchum said in a statement. "Our revised expectations are lower than they were just a short while ago."

More than two stocks fell for every one that rose on the New York Stock Exchange. Trading volume was 3.6 billion shares.

1434


----------



## bigdog

Source: http://finance.yahoo.com

Economic worries weigh on stocks again; Indexes have dropped 5 weeks in a row

Stocks were lower for a fourth straight day with banks and energy companies leading the decline. Worries about a slowing economy also continued to weigh on the broader market Monday.

The Dow Jones industrial average fell 61.30 points, or 0.5 percent, to 12,089.96. The Standard & Poor's 500 index dropped 13.99 points, or 1.1 percent, to 1,286.17. It was the first time the S&P index closed below 1,300 since March 23. The Nasdaq composite fell 30.22, or 1.1 percent, to 2,702.56.

Losses came across the stock market. All 10 industry groups in the S&P index fell. Energy and financial companies each lost 2 percent.

The biggest U.S. banks each declined 2 percent or more, following a speech by a Federal Reserve board member Friday that indicated banks may be required to set aside more cash to cover potential losses. If the proposal were to take effect, banks would be left with less money to lend, which could hurt their earnings. Citigroup Inc. and Bank of America Corp. each lost more than 4 percent, and JP Morgan Chase dropped 2.5 percent.

Airlines stocks dropped after an industry group cut its profit estimates for this year by half. The group blamed disasters in Japan, unrest in the Middle East and higher fuel prices. Delta Air Lines and AMR Corp., the parent company of American Airlines, each lost more than 3 percent.

*The NYSE DOW NYSE DOW closed LOWER -61.30 points -0.50% on Monday June 6*
Sym .......Last .......Change.......... 
Dow 12,089.96 -61.30 -0.50% 
Nasdaq 2,702.56 -30.22 -1.11% 
S&P 500 1,286.17 -13.99 -1.08% 
30-yr Bond 4.2620% +0.0310  

NYSE Volume 4,082,656,750   (prior 4,070,807,750) 
Nasdaq Volume 1,898,800,375  (prior 1,980,615,250)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,863.16 +8.15 +0.14%  
DAX 7,084.57 -24.46 -0.34% 
CAC 40 3,863.40 -27.28 -0.70% 


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,648.70 -17.90 -0.38%  
Shanghai Comp 2,728.23 +23.05 +0.85% 
Taiwan We... 9,046.28 +54.92 +0.61%  
Nikkei 225 9,380.35 -111.86 -1.18% 
Hang Seng 22,949.56 -304.28 -1.31% 
Straits Times 3,113.73 -31.94 -1.02%  

http://finance.yahoo.com/news/Econo...7.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Economic concerns sink stocks for 4th straight day

Economic worries weigh on stocks again; Indexes have dropped 5 weeks in a row *

Matthew Craft and David K. Randall, AP Business Writers, On Monday June 6, 2011, 5:31 pm

NEW YORK (AP) -- Stocks were lower for a fourth straight day with banks and energy companies leading the decline. Worries about a slowing economy also continued to weigh on the broader market Monday.

The Dow Jones industrial average fell 61.30 points, or 0.5 percent, to 12,089.96. The Standard & Poor's 500 index dropped 13.99 points, or 1.1 percent, to 1,286.17. It was the first time the S&P index closed below 1,300 since March 23. The Nasdaq composite fell 30.22, or 1.1 percent, to 2,702.56.

Losses came across the stock market. All 10 industry groups in the S&P index fell. Energy and financial companies each lost 2 percent.

The biggest U.S. banks each declined 2 percent or more, following a speech by a Federal Reserve board member Friday that indicated banks may be required to set aside more cash to cover potential losses. If the proposal were to take effect, banks would be left with less money to lend, which could hurt their earnings. Citigroup Inc. and Bank of America Corp. each lost more than 4 percent, and JP Morgan Chase dropped 2.5 percent.

Airlines stocks dropped after an industry group cut its profit estimates for this year by half. The group blamed disasters in Japan, unrest in the Middle East and higher fuel prices. Delta Air Lines and AMR Corp., the parent company of American Airlines, each lost more than 3 percent.

Investors also remained focused on Friday's grim unemployment report. The dismal jobs report sent stocks sharply lower on Friday.

"Wall Street came back, quickly and very strongly, at a time when the populace was still weak in terms of low job growth and low wage growth," said Daniel Penrod, a senior industry analyst at California Credit Union League. "That appeared to be overly optimistic."

The Labor Department reported that employers added only 54,000 new workers in May. The unemployment rate inched up to 9.1 percent from 9 percent.

The report reinforced signs that the U.S. economy is slowing. High gas and food prices have cut into consumer spending. The earthquake and tsunami in Japan have slowed down supplies of industrial parts, hurting U.S. manufacturers. The collection of weak economic data prompted many economists to lower their growth projections for the rest of the year.

Pending regulation and lawsuits also sent some companies down more than the overall market on Monday. Lorillard Inc. dropped 7 percent, the most of any company in the S&P 500 index. Investors are concerned that the Food and Drug Administration could ban menthol cigarettes. The company makes the most popular menthol cigarette on the market, Newport. Oilfield services company Halliburton fell nearly 5 percent after the Supreme Court ruled shareholders can pursue a class-action lawsuit that claimed that company inflated its stock price.

Four stocks fell for every one that rose on the New York Stock Exchange. Consolidated volume came to 3.6 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stock indexes closed lower Tuesday, giving up earlier gains, after Federal Reserve Chairman Ben Bernanke said the economic recovery remains uneven. Bernanke offered no new steps to stimulate growth.

The Dow Jones industrial average had been up as many as 89 points but turned lower in the late afternoon as Bernanke's speech started. The Dow's loss of 19 was the fifth straight decline for the index, the longest string of losses since August.

Bernanke said the U.S. economy had not grown as quickly as had been expected so far this year. He said growth has been held back by disruptions of industrial supplies from Japan following the tsunami and nuclear disaster there and higher gas prices.

Bernanke expects the economy to pick up in the second half of the year, but he acknowledged that the pace of the growth remains "frustratingly slow from the perspective of millions of unemployed and underemployed workers."

Some investors had been hoping Bernanke would announce additional measures to support the economy. Major indexes fell after it became clear that Bernanke was not wavering from his view that the U.S. economy is growing gradually and does not need more stimulus. The Fed's $600 billion bond-buying program, which is aimed at keeping interest rates low, is ending at the end of June.

*The NYSE DOW NYSE DOW closed LOWER -19.15 points -0.16%  on Tuesday June 7*
Sym .......Last .......Change.......... 
Dow 12,070.81 -19.15 -0.16% 
Nasdaq 2,701.56 -1.00 -0.04% 
S&P 500 1,284.94 -1.23 -0.10% 
30-yr Bond 4.2650% +0.0030 

NYSE Volume 3,717,237,750  (prior 4,082,656,750)
Nasdaq Volume 1,868,349,750  (prior 1,898,800,375)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,864.65 +1.49 +0.03% 
DAX 7,103.25 +18.68 +0.26% 
CAC 40 3,871.92 +8.52 +0.22%  


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,641.10 -7.60 -0.16%  
Shanghai Comp 2,745.52 +17.50 +0.64% 
Taiwan We... 9,057.10 +10.82 +0.12% 
Nikkei 225 9,442.95 +62.60 +0.67%  
Hang Seng 22,883.27 -66.29 -0.29% 
Straits Times 3,113.22 -0.51 -0.02%

http://finance.yahoo.com/news/Stock...3.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks fall again as Bernanke offers no stimulus

Stocks edge lower, extending losses to a 5th day, after Bernanke says recovery is 'uneven' *

Francesca Levy and David K. Randall, AP Business Writers, On Tuesday June 7, 2011, 5:10 pm 

NEW YORK (AP) -- Stock indexes closed lower Tuesday, giving up earlier gains, after Federal Reserve Chairman Ben Bernanke said the economic recovery remains uneven. Bernanke offered no new steps to stimulate growth.

The Dow Jones industrial average had been up as many as 89 points but turned lower in the late afternoon as Bernanke's speech started. The Dow's loss of 19 was the fifth straight decline for the index, the longest string of losses since August.

Bernanke said the U.S. economy had not grown as quickly as had been expected so far this year. He said growth has been held back by disruptions of industrial supplies from Japan following the tsunami and nuclear disaster there and higher gas prices.

Bernanke expects the economy to pick up in the second half of the year, but he acknowledged that the pace of the growth remains "frustratingly slow from the perspective of millions of unemployed and underemployed workers."

Some investors had been hoping Bernanke would announce additional measures to support the economy. Major indexes fell after it became clear that Bernanke was not wavering from his view that the U.S. economy is growing gradually and does not need more stimulus. The Fed's $600 billion bond-buying program, which is aimed at keeping interest rates low, is ending at the end of June.

"People are getting skittish," said Brian Wenzinger, a portfolio manager at Aronson Johnson Ortiz in Philadelphia. "Housing is getting worse, and they're rethinking a possible double-dip recession." But, Wenzinger added, the relatively small drop in the stock market was a positive sign following several days of steep losses.

The Dow Jones industrial average lost 19.15 points, or 0.2 percent, to close at 12,070.81. The Standard and Poor's 500 dipped 1.23, or 0.1 percent, to 1,284.94. The Nasdaq composite shed 1, or less than 0.1 percent, to 2,701.56.

Stocks have swooned since late April because of concerns that the U.S. economy is stalling from a combination of high gas prices, weaker than expected hiring and a slowdown in manufacturing. The Dow has fallen nearly 500 points over the last five days. The S&P remained below the psychologically important level of 1,300 for the second straight day and closed at its lowest level in two and a half months.

The Labor Department reported that businesses had fewer job openings in April. The government said that employers posted 3 million ads for jobs in April, down from 3.1 million in March. The figure added to the stack of other signs that the U.S. is having an employment crisis. However, the report did little to change the direction of stocks.

In corporate news, a contentious acquisition proposal ratcheted up the stock price of all companies involved. International Paper Co. rose 0.4 percent after smaller rival Temple-Inland fought back against International Paper's hostile takeover bid for $3.3 billion in cash. Temple-Inland soared 40 percent on the news. Weyerhaeuser Co. rose 5 percent, the most of any company in the S&P 500, on suspicion it was another takeover candidate for International Paper.

Cablevision Systems Corp. rose 4.5 percent after the New York-area cable company set a date when it would spin off its cable networks. The company plans to divest popular television networks including AMC, which broadcasts the popular "Mad Men" show on June 16. Investors prefer the sleeker broadcast networks like WE TV, IFC and the Sundance Channel operating on their own to the current unwieldy corporate structure.

Rising shares narrowly outnumbered falling ones on the New York Stock Exchange. Volume was 3.6 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Another lackluster economic report sent stocks down Wednesday, extending a weeklong slide.

The Federal Reserve report, known as the Beige Book, showed the economy slowed in several U.S. regions for the first time this year. While seven of the Fed's 12 districts reported steady gains, the economy stalled in the New York, Philadelphia, Atlanta, and Chicago regions, the Fed said. Dallas was the only region to report accelerated growth. That was largely due to the effect of higher oil prices on the region's energy industry.

The report added to concerns that have been building since mid-April that the American economy is stalling. High oil prices, bad weather and supply-chain problems following the tsunami and nuclear disaster in Japan have combined to dampen many investors' outlook for the rest of the year. And on Tuesday, Fed Chairman Ben Bernanke acknowledged that the U.S. economic recovery was "uneven" and "frustratingly slow," though he added that he expected growth to pick up in the second half of the year.

That has left many investors on edge. "What Bernanke basically said was that we have to believe we're in a soft patch that will pass by itself," said Randall Warren, chief investment officer at Warren Financial Services. "That takes a lot of faith."

The Standard and Poor's 500 lost 5.38, or 0.4 percent, to 1,279.56 on Wednesday. It was its sixth straight loss. The Dow Jones industrial average fell 21.87, or 0.2 percent, to 12,048.94. The Nasdaq composite slipped 26.18, or 1 percent, to 2,675.38.

*The NYSE DOW NYSE DOW closed LOWER -21.87 points  -0.18%  on Wednesday June 8*
Sym .......Last .......Change.......... 
Dow 12,048.94 -21.87 -0.18% 
Nasdaq 2,675.38 -26.18 -0.97% 
S&P 500 1,279.56 -5.38 -0.42% 
30-yr Bond 4.2090% -0.0560 


NYSE Volume 4,547,683,000  (prior  3,717,237,750)
Nasdaq Volume 2,105,857,000  (prior 1,868,349,750)

*Europe*
Symbol... ......Last .....Change....... 
FTSE 100 5,808.89 -55.76 -0.95% 
DAX 7,060.23 -43.02 -0.61% 
CAC 40 3,837.98 -33.94 -0.88%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 	4,608.70 	-32.40 	-0.70%
Shanghai Comp 	2,750.29 	+5.99 	+0.22%
Taiwan We... 	9,007.53 	-49.57 	-0.55%
Nikkei 225 	9,449.46 	+6.51 	+0.07%
Hang Seng 	22,661.63 	-207.04 	-0.91%
Straits Times 	3,102.98 	-12.97 	-0.42%


http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

Stocks fall as Fed delivers mixed economic outlook

Stocks maintain losing streak after Fed survey shows mixed economic picture 

Francesca Levy and David K. Randall, AP Business Writers, On Wednesday June 8, 2011, 5:26 pm 

NEW YORK (AP) -- Another lackluster economic report sent stocks down Wednesday, extending a weeklong slide.

The Federal Reserve report, known as the Beige Book, showed the economy slowed in several U.S. regions for the first time this year. While seven of the Fed's 12 districts reported steady gains, the economy stalled in the New York, Philadelphia, Atlanta, and Chicago regions, the Fed said. Dallas was the only region to report accelerated growth. That was largely due to the effect of higher oil prices on the region's energy industry.

The report added to concerns that have been building since mid-April that the American economy is stalling. High oil prices, bad weather and supply-chain problems following the tsunami and nuclear disaster in Japan have combined to dampen many investors' outlook for the rest of the year. And on Tuesday, Fed Chairman Ben Bernanke acknowledged that the U.S. economic recovery was "uneven" and "frustratingly slow," though he added that he expected growth to pick up in the second half of the year.

That has left many investors on edge. "What Bernanke basically said was that we have to believe we're in a soft patch that will pass by itself," said Randall Warren, chief investment officer at Warren Financial Services. "That takes a lot of faith."

The Standard and Poor's 500 lost 5.38, or 0.4 percent, to 1,279.56 on Wednesday. It was its sixth straight loss. The Dow Jones industrial average fell 21.87, or 0.2 percent, to 12,048.94. The Nasdaq composite slipped 26.18, or 1 percent, to 2,675.38.

Energy companies were among the few stocks to gain broadly. Oil companies like Exxon Mobil Corp, which gained 1 percent, rose after oil settled above $100 a barrel. The jump in oil prices came after OPEC ministers made an unexpected decision to keep output at current levels. Investors had been hoping the cartel would increase output, which could have pushed down the price of crude.

Signs that U.S. supplies were tightening also pushed up oil prices. The American Petroleum Institute said late Tuesday that U.S. crude inventories fell more than expected.

Corporate news reinforced the glum outlook on the economy. Retailer Abercrombie and Fitch Co. fell more than 5 percent after the company said that it expects its second-quarter earnings to come in below first-quarter results. Network equipment maker Ciena Corp. fell 16 percent after reporting a larger loss and lower revenue than analysts had expected. And home builder Hovnanian Enterprises Inc. lost nearly 12 percent after it reported a large second-quarter loss late Tuesday.

The yield on the 10-year Treasury slid to 2.96 percent as investors put money into more stable assets. Yields on bonds fall when their prices rise.

Three stocks fell for every one that rose on the New York Stock Exchange. Consolidated volume was 4.1 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

A bit of good news was all it took to break a weeklong slump in the stock market.

A report that U.S. exports hit a record in April sent stocks sharply higher Thursday as investors hoped the economic recovery may not be as sluggish as the last week of grim economic reports have suggested.

Trade levels factor into calculations of economic growth. Thursday's number could add half a percentage point or more to the government's estimate of second-quarter gross domestic product, said Anthony Chan, chief economist for JPMorgan Private Wealth.

The Dow Jones industrial average rose 75.42 points, or 0.6 percent, to close at 12,124.36. The Standard & Poor's 500 index rose 9.44, or 0.7 percent, to 1,289.00. The Nasdaq composite rose 9.49, or 0.4 percent, to 2,684.87.

Thursday's gains broke a six-day losing streak and marked the first time stocks rose in June. Stocks had dropped following poor reports on manufacturing, home sales, hiring and consumer confidence.

It was the longest losing streak for the Dow Jones industrial average in over a year and the longest for the Standard & Poor's 500 index since February 2009.

The market's weeklong slump also made stocks appear relatively cheap, Chan said. The S&P 500 lost 6.2 percent over the previous six days of trading.

*The NYSE DOW NYSE DOW closed HIGHER -21.87 points -0.18% on Thursday June 9*
Sym .......Last .......Change..........
Dow	12,124.36	+75.42	+0.63%
Nasdaq	2,684.87	+9.49	+0.35%
S&P 500	1,289.00	+9.44	+0.74%
30-yr Bond	4.22%	+0.0110

NYSE Volume 3,518,046,750  (prior 4,547,683,000)
Nasdaq Volume 1,720,862,750  (prior 2,105,857,000)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100	5,856.34	+47.45	+0.82%
DAX	7,159.66	+99.43	+1.41%
CAC 40	3,878.65	+40.67	+1.06%

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord	4,621.70	+13.00	+0.28%
Shanghai Comp	2,703.32	-46.97	-1.71%
Taiwan We...	9,000.94	-6.59	-0.07%
Nikkei 225	9,467.15	+17.69	+0.19%
Hang Seng	22,609.83	-51.80	-0.23%
Straits Times	3,097.57	-5.41	-0.17%

http://finance.yahoo.com/news/US-st...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*US stocks close higher for the first time in June

Stocks rally on narrower trade deficit and bust a weeklong losing streak *

 Francesca Levy and Matthew Craft, AP Business Writers, On Thursday June 9, 2011, 4:40 pm EDT

NEW YORK (AP) -- A bit of good news was all it took to break a weeklong slump in the stock market.

A report that U.S. exports hit a record in April sent stocks sharply higher Thursday as investors hoped the economic recovery may not be as sluggish as the last week of grim economic reports have suggested.

Trade levels factor into calculations of economic growth. Thursday's number could add half a percentage point or more to the government's estimate of second-quarter gross domestic product, said Anthony Chan, chief economist for JPMorgan Private Wealth.

The Dow Jones industrial average rose 75.42 points, or 0.6 percent, to close at 12,124.36. The Standard & Poor's 500 index rose 9.44, or 0.7 percent, to 1,289.00. The Nasdaq composite rose 9.49, or 0.4 percent, to 2,684.87.

Thursday's gains broke a six-day losing streak and marked the first time stocks rose in June. Stocks had dropped following poor reports on manufacturing, home sales, hiring and consumer confidence.

It was the longest losing streak for the Dow Jones industrial average in over a year and the longest for the Standard & Poor's 500 index since February 2009.

The market's weeklong slump also made stocks appear relatively cheap, Chan said. The S&P 500 lost 6.2 percent over the previous six days of trading.

"Markets usually swing like a pendulum," Chan said. "This decline has been strong enough that you can easily justify the market taking a breath."

The narrower trade deficit is a sign that goods from U.S. manufacturers are becoming more competitive in overseas markets. U.S. companies sold more computers, heavy machinery and telecommunications equipment abroad in April compared with the month before. Imports declined because fewer cars were bought from Japan after factories there were damaged by that country's earthquake and tsunami disaster.

Companies that make farming machinery rose after the government reported that U.S. corn crops would be smaller this fall. That sent corn prices soaring and raised expectations that farm owners would be buying more agricultural equipment such as tractors. Both Deere & Co. and AGCO Corp rose 2.5 percent.

A report on claims for unemployment benefits was in line with expectations that new applications would stay roughly the same. The Labor Department reported that new claims edged up 1,000 to 427,000. Economists had expected a slight drop. The high level of claims still suggests that the job market is slow.

Advertising company Interpublic Group of Cos. jumped 6.4 percent, the most of any company in the S&P 500 index, after ratings agency Moody's raised its rating on the company.

A jump in oil prices sent energy stocks higher. Energy companies in the S&P 500 index rose 1.2 percent. Crude rose $1.19 to settle at $101.93.

Stocks have been slipping since mid-April as investors become concerned that the U.S. economy has hit a soft patch. Rising oil prices, Japan's tsunami and nuclear disaster and the risk that Greece might default on its debt have led investors to lower their forecasts for U.S. growth this year.

Nearly two stocks rose for every one that fell on the New York Stock Exchange. Consolidated trading volume was 3.5 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Fears that the global economic recovery has stalled pushed the Dow Jones industrial average below 12,000 for the first time since March and drove the stock market lower for the sixth straight week.

Friday's drop extended the longest weekly losing streak for stocks since the fall of 2002.

Weak economic news has dampened hopes for a steady recovery, sending stocks down. Traders worry that weaker hiring, sluggish industrial output, and a moribund housing market are reversing a bull market that has lifted the Dow 20 percent over the past year.

If the indexes continue their slide for another week, it would be the first time in 10 years that the market suffered a seven-week stretch of losses. The last such stretch began in May 2001 as the dot-com bubble deflated.

The Dow fell 172.45 points, or 1.4 percent, to close Friday at 11,951.91. The S&P 500 index fell 18.02, or 1.4 percent, to 1,270.98. The Nasdaq dropped 41.14, or 1.5 percent, to 2,643.73.

The Nasdaq is now down slightly for the year, as is the Russell 2000 index of small company stocks. The Dow is still up 3.2 percent for 2011 and the S&P 1.1 percent.

Some investors said the recent pullback may not last.

*The NYSE DOW NYSE DOW closed LOWER -172.45 points	-1.42% on Friday June 10*
Sym .......Last .......Change..........
Dow	11,951.91	-172.45	-1.42%
Nasdaq	2,643.73	-41.14	-1.53%
S&P 500	1,270.98	-18.02	-1.40%
30-yr Bond	4.18%	-0.04

NYSE Volume	4,444,964,500  (prior 3,518,046,750)
Nasdaq Volume	1,988,527,875   (prior 1,720,862,750)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100	5,765.80	-90.54	-1.55%
DAX	7,069.90	-89.76	-1.25%
CAC 40	3,805.09	-73.56	-1.90%

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord	4,634.90	+13.20	+0.29%
Shanghai Comp	2,706.18	+2.83	+0.10%
Taiwan We...	8,837.82	-163.12	-1.81%
Nikkei 225	9,514.44	+47.29	+0.50%
Hang Seng	22,420.37	-189.46	-0.84%
Straits Times	3,078.35	-19.22	-0.62%

http://finance.yahoo.com/news/Dow-f...1.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Dow falls below 12K; stocks drop 6 weeks straight

Dow falls below 12K, Nasdaq erases year's gains; longest weekly losing streak seen since '02*

 Daniel Wagner and Matthew Craft, AP Business Writers, On Friday June 10, 2011, 5:28 pm EDT

Fears that the global economic recovery has stalled pushed the Dow Jones industrial average below 12,000 for the first time since March and drove the stock market lower for the sixth straight week.

Friday's drop extended the longest weekly losing streak for stocks since the fall of 2002.

Weak economic news has dampened hopes for a steady recovery, sending stocks down. Traders worry that weaker hiring, sluggish industrial output, and a moribund housing market are reversing a bull market that has lifted the Dow 20 percent over the past year.

If the indexes continue their slide for another week, it would be the first time in 10 years that the market suffered a seven-week stretch of losses. The last such stretch began in May 2001 as the dot-com bubble deflated.

The Dow fell 172.45 points, or 1.4 percent, to close Friday at 11,951.91. The S&P 500 index fell 18.02, or 1.4 percent, to 1,270.98. The Nasdaq dropped 41.14, or 1.5 percent, to 2,643.73.

The Nasdaq is now down slightly for the year, as is the Russell 2000 index of small company stocks. The Dow is still up 3.2 percent for 2011 and the S&P 1.1 percent.

Some investors said the recent pullback may not last.

Jack Ablin, chief investment officer at Harris Private Bank, said strong corporate earnings and widespread economic growth, however slow, should lead to more gains in the coming months. "Anyone selling shares today has to be pricing in a recession," he said. Most economists expect slow growth but not a recession.

Shares had bounced back Thursday, breaking six straight days of losses, after U.S. exports unexpectedly hit a record in April. By Friday morning, those gains had evaporated. The losses were widespread, with declines across all 10 of the S&P 500's industry groups.

Ablin suggested that Friday's losses were partially driven by the Federal Reserve's unloading of millions in risky mortgage bonds onto the market. As big banks buy those securities, they dump assets such as stocks and high-yield corporate bonds.

Karyn Cavanaugh, vice president and market strategist with ING Investment Management, advised investors to stick out the market's recent turbulence.

"The market doesn't go up indefinitely; it's not a straight line and it does get choppy at times," she said. Cavanaugh said seven straight quarters of stronger-than-expected corporate earnings are a clear signal that the bull market will continue.

Aside from a promising report on higher exports Thursday, investors had little reason to cheer this week. Citigroup Inc., Bank of America Corp. and other big banks led stocks lower Monday amid expectations that banks would have to set aside more cash to cover potential losses.

Federal Reserve Chairman Ben Bernanke gave a speech Tuesday in which he said the economy's greatest troubles -- high oil prices and supply chain disruptions from Japan -- would soon pass. Bernanke offered no hint of further help from the Fed and the stock market dropped as he spoke. The next day, stocks slipped again after a Federal Reserve report showed the economy slowed in New York, Chicago and other major metropolitan areas.

Asian markets were mixed Friday. A smaller than anticipated Chinese trade surplus in May and a bigger than expected decline in British industrial production in April led to fears that growth is also slowing overseas, not just in the U.S. Economists say Beijing's efforts to temper rapid growth by curbing lending and investing could cool its economy too quickly. Weakness in China could hurt the global commodities trade if it cuts into demand for oil, iron ore and other industrial inputs for which China is a key customer.

The euro fell below its recent highs on signs that European policymakers have reached an impasse over how to handle Greece's drawn-out debt crisis.

The yield on the benchmark 10-year Treasury note fell as investors put money into low-risk investments. The yield fell to 2.97 percent Friday afternoon, after trading above 3 percent Thursday as the stock market rallied. Bond yields fall and their prices rise when demand for them increases.

In corporate news, shares of solar chip maker MEMC Electronic Materials Inc. fell 3.5 percent after an analyst downgraded the stock, saying prices for solar wafers are falling rapidly because of overproduction in China.

Goodyear Tire fell 6.6 percent, the most in the S&P 500, after the company agreed to sell its Asian wire business to South Korea's Hyosung Corp. for $50 million. Analysts with J.P. Morgan Chase & Co. said they expect "significantly weaker" demand for replacement tires.

Four stocks fell for every one that rose on the New York Stock Exchange. Consolidated trading volume was 3.9 billion shares.

1833


----------



## explod

Looking at your last chart of the DOW there bigdog we can see that a close on the weekly about 200 points below the current level will break the uptrend which commenced from the low created in early 2010.

The commentry (mostly press) of course remains largely bullish.   However, I think they could be wrong and the next couple of weeks will tell.


----------



## bigdog

Source: http://finance.yahoo.com

A round of corporate deals helped the broad stock market eke out only its second day of gains this month.

Wendy's/Arby's Group Inc. rose nearly 1 percent after the company said it would sell control of its Arby's restaurant business to a private equity firm that owns several other quick-service franchises, including Moe's Southwest Grill and Auntie Anne's. And clothing maker VF Corp., whose brands include Wrangler and The North Face, jumped 10 percent after agreeing to buy the boot maker Timberland for more than $2.2 billion.

When big companies use their cash to make an acquisition, it signals a belief that there are values in the market, said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research.

"That's a good sign of confidence when we desperately need some," Detrick said.

The Dow Jones industrial average gained 1.06 points, or less than 0.1 percent, to close at 11,952.97. The Standard and Poor's 500 inched up 0.85 point, less than 0.1 percent, to 1,271.83. The Nasdaq composite lost 4.04, or 0.2 percent, to 2,639.69

All three indexes are down more than 4 percent over the last month because of concerns that the U.S. economy is stalling. Stocks have fallen since late April following dismal reports on the housing market, manufacturing and jobs. On Friday, the Dow fell below 12,000 for the first time since March. The Dow and S&P index last gained on Thursday, following news that U.S. exports hit a record in April.

*The NYSE DOW NYSE DOW closed HIGHER +1.06 points +0.01%  on Monday June 13*
*Sym .......Last .......Change..........*
Dow 11,952.97 +1.06 +0.01%  
Nasdaq 2,639.69 -4.04 -0.15% 
S&P 500 1,271.83 +0.85 +0.07% 
30-yr Bond 4.2050% +0.0021  

NYSE Volume 4,136,964,250  (prior 4,444,964,500)
Nasdaq Volume 1,861,909,375  (prior 1,988,527,875)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,773.46 -82.88 -1.42%  
DAX 7,085.14 +15.24 +0.22% 
CAC 40 3,807.61 +2.52 +0.07% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,634.90 closed for holiday
Shanghai Comp 2,700.70 -4.45 -0.16% 
Taiwan We... 8,712.95 -124.87 -1.41% 
Nikkei 225 9,448.21 -66.23 -0.70% 
Hang Seng 22,508.08 +87.71 +0.39% 
Straits Times 3,059.04 -19.31 -0.63% 

http://finance.yahoo.com/news/Corpo...ontent/main/3399131717//date/desc/11/s6657283

*Corporate buyout deals nudge indexes higher

Dow, S&P 500 post slight gains as Arby's, Timberland deals encourage investors *

Chip Cutter and David K. Randall, AP Business Writers, On Monday June 13, 2011, 5:21 pm EDT 

NEW YORK (AP) -- A round of corporate deals helped the broad stock market eke out only its second day of gains this month.

Wendy's/Arby's Group Inc. rose nearly 1 percent after the company said it would sell control of its Arby's restaurant business to a private equity firm that owns several other quick-service franchises, including Moe's Southwest Grill and Auntie Anne's. And clothing maker VF Corp., whose brands include Wrangler and The North Face, jumped 10 percent after agreeing to buy the boot maker Timberland for more than $2.2 billion.

When big companies use their cash to make an acquisition, it signals a belief that there are values in the market, said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research.

"That's a good sign of confidence when we desperately need some," Detrick said.

The Dow Jones industrial average gained 1.06 points, or less than 0.1 percent, to close at 11,952.97. The Standard and Poor's 500 inched up 0.85 point, less than 0.1 percent, to 1,271.83. The Nasdaq composite lost 4.04, or 0.2 percent, to 2,639.69

All three indexes are down more than 4 percent over the last month because of concerns that the U.S. economy is stalling. Stocks have fallen since late April following dismal reports on the housing market, manufacturing and jobs. On Friday, the Dow fell below 12,000 for the first time since March. The Dow and S&P index last gained on Thursday, following news that U.S. exports hit a record in April.

Energy companies in the S&P index lost 1.4 percent, the biggest move among the 10 industry groups that make up the index, after crude oil dipped to $97.30 a barrel.

Worries about the U.S. economy and concerns that Europe may fall into another fiscal crisis continue to impact bonds. Bond yields remained below 3 percent as investors continued to place a high value on safer assets. Standard & Poor's cut Greece's credit rating to CCC on Monday, two notches above default. S&P also said that it doubts the country will be able to sell bonds to finance its budgets in 2012.

Among U.S. corporations, Forest Laboratories Inc. rose nearly 2 percent after the drugmaker said a fund affiliated with billionaire investor Carl Icahn plans to nominate four directors to the company's board. And electronics retailer Best Buy Co., grocer Kroger Co. and BlackBerry maker Research in Motion Ltd. will release earnings later in the week.

Falling shares slightly outnumbered rising ones on the New York Stock Exchange. Consolidated volume came to 3.7 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

A better than expected retail sales report reversed a two-week slump in the stock market Tuesday, sending indexes higher for only the third day this month.

The Dow Jones industrial average jumped back above 12,000 and all three indexes had their best day so far in June.

The government said retail sales edged down 0.2 percent last month. Analysts had expected worse. Excluding weak car sales, retail sales rose 0.3 percent. Americans bought fewer cars during the month, but that was more a reflection of temporary supply chain disruptions caused by the earthquake and tsunami disaster in Japan.

"The good news is the consumer is hanging in there," said Rob Lutts, president and chief investment officer of Cabot Money Management.

The stronger report on retail sales sent the stocks of department stores and other retailers higher. Nordstrom Inc. and Home Depot Inc. rose 4 percent. J.C. Penney Co. jumped 17 percent after the department store chain named Ron Johnson, the man who pioneered Apple Inc.'s retail stores, as its next CEO. J.C. Penny's stock rose the most of any company in the S&P 500.

*The NYSE DOW NYSE DOW closed HIGHER +123.14 +1.03% on Tuesday June 14*
Sym .......Last .......Change..........
Dow 12,076.11 +123.14 +1.03% 
Nasdaq 2,678.72 +39.03 +1.48% 
S&P 500 1,287.87 +16.04 +1.26% 
30-yr Bond 4.3010% +0.0096  

NYSE Volume 3,725,403,500   (prior 4,136,964,250)
Nasdaq Volume 1,746,771,000  (prior 1,861,909,375)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,803.13 +29.67 +0.51% 
DAX 7,204.79 +119.65 +1.69% 
CAC 40 3,864.58 +56.97 +1.50%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,651.10 +16.20 +0.35% 
Shanghai Comp 2,730.05  +29.67  +1.10% 
Taiwan We... 8,829.21 +116.26 +1.33% 
Nikkei 225 9,547.79 +99.58 +1.05%  
Hang Seng 22,496.00 -12.08 -0.05% 
Straits Times 3,058.47 -0.57 -0.02% 

http://finance.yahoo.com/news/Stocks-shake-off-2week-slump-apf-778692079.html?x=0

*Stocks shake off 2-week slump on retail sales news

Stock market has its best day in June on steady retail sales; the Dow is back above 12,000 *

Chip Cutter and Matthew Craft, AP Business Writers, On Tuesday June 14, 2011, 4:51 pm EDT 

NEW YORK (AP) -- A better than expected retail sales report reversed a two-week slump in the stock market Tuesday, sending indexes higher for only the third day this month.

The Dow Jones industrial average jumped back above 12,000 and all three indexes had their best day so far in June.

The government said retail sales edged down 0.2 percent last month. Analysts had expected worse. Excluding weak car sales, retail sales rose 0.3 percent. Americans bought fewer cars during the month, but that was more a reflection of temporary supply chain disruptions caused by the earthquake and tsunami disaster in Japan.

"The good news is the consumer is hanging in there," said Rob Lutts, president and chief investment officer of Cabot Money Management.

The stronger report on retail sales sent the stocks of department stores and other retailers higher. Nordstrom Inc. and Home Depot Inc. rose 4 percent. J.C. Penney Co. jumped 17 percent after the department store chain named Ron Johnson, the man who pioneered Apple Inc.'s retail stores, as its next CEO. J.C. Penny's stock rose the most of any company in the S&P 500.

The Dow Jones industrial average rose 123.14 points, or 1 percent, to close at 12,076.11.

The Standard & Poor's 500 index rose 16.04, or 1.3 percent, to 1,287.87. The Nasdaq composite index rose 39.03, or 1.5 percent, to 2,678.72.

Five stocks rose for every one that fell on the New York Stock Exchange.

The government also reported that wholesale prices rose in May by the smallest amount in 10 months. That helped to allay concerns among investors that rising food and energy costs would slow the economic recovery.

Stocks have tanked over the past two weeks on concerns that the economy is losing strength. The manufacturing industry is slowing, home sales are weak and the job market remains sluggish. Investors are also nervous because the Federal Reserve's $600 billion bond-buying program is winding down at the end of June. The program was aimed at keeping interest rates low to encourage borrowing.

The Dow and S&P 500 have lost 4 percent so far this month. The Nasdaq composite has lost 5 percent.

In corporate news, Best Buy Co. Inc. rose 5 percent after the company reported first-quarter results that beat analysts' forecasts. The company reaffirmed its full-year earnings forecast and said revenue would come in at the high end of the $51 billion to $52.5 billion range it has been expecting.

Energy stocks rose 2 percent, the most of the 10 company groups that make up the S&P 500, after oil climbed back above $99 a barrel. Energy stocks have fallen 9 percent since the S&P 500 peaked in late April, making them appear relatively cheap compared to other industries that hadn't fallen as much.

Consolidated trading volume on the New York Stock Exchange was 3.7 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Unrest in Greece rattled global financial markets Wednesday. Stocks fell the most since June 1 as investors piled into lower-risk assets like the dollar and U.S. government bonds.

A report on manufacturing in the New York area also came in far below forecasts. That reignited fears that factory production, one of the few bright spots in the U.S. economy, may be weaker than many economists had believed.

Thousands of people gathered on the streets of Athens to protest government cutbacks required by international lenders. Demonstrators hurled rocks at riot police, who responded with tear gas. Greece's prime minister said he would name a new Cabinet after talks to form a new government with opposition parties failed.

The Dow Jones industrial average fell 178.84 points, or 1.5 percent, to close at 11,897.27. The drop erased all of its 123-point gain from Tuesday and put the average on track for a seventh straight week of losses. All 30 companies in the Dow dropped, led by Aluminum maker Alcoa Inc. which lost 2.9 percent. Alcoa's stock tends to swing with shifting moods about the global economy.

Shares in energy companies also fell. Chevron Corp. and Exxon Mobil Corp both lost more than 2 percent.

The S&P 500 index fell 22.45, or 1.7 percent, to 1,265.42. The Nasdaq fell 47.26, or 1.8 percent, to 2,631.46.

*The NYSE DOW NYSE DOW closed LOWER -178.84 -1.48% on Wednesday June 15*
Sym .......Last .......Change..........
Dow 11,897.27 -178.84 -1.48% 
Nasdaq 2,631.46 -47.26 -1.76% 
S&P 500 1,265.42 -22.45 -1.74% 
30-yr Bond 4.1990% -0.0102 

NYSE Volume 4,746,029,500  (prior 3,725,403,500)
Nasdaq Volume 2,004,668,750  (prior 1,746,771,000)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,742.55 -60.58 -1.04% 
DAX 7,115.08 -89.71 -1.25% 
CAC 40 3,806.85 -57.73 -1.49% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,635.40 -15.70 -0.34% 
Shanghai Comp 2,705.43  -24.61  -0.90% 
Taiwan We... 8,831.45 +2.24 +0.03% 
Nikkei 225 9,574.32 +26.53 +0.28% 
Hang Seng 22,343.77 -152.23 -0.68% 
Straits Times 3,056.88 -0.51 -0.02% 

http://finance.yahoo.com/news/Worse...3.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Worsening Greek debt crisis sinks stocks, euro

Stocks slide as protesters in Greece rally against budget cutbacks; euro falls 2 percent *

Chip Cutter and Matthew Craft, AP Business Writers, On Wednesday June 15, 2011, 5:37 pm EDT 

NEW YORK (AP) -- Unrest in Greece rattled global financial markets Wednesday. Stocks fell the most since June 1 as investors piled into lower-risk assets like the dollar and U.S. government bonds.

A report on manufacturing in the New York area also came in far below forecasts. That reignited fears that factory production, one of the few bright spots in the U.S. economy, may be weaker than many economists had believed.

Thousands of people gathered on the streets of Athens to protest government cutbacks required by international lenders. Demonstrators hurled rocks at riot police, who responded with tear gas. Greece's prime minister said he would name a new Cabinet after talks to form a new government with opposition parties failed.

The Dow Jones industrial average fell 178.84 points, or 1.5 percent, to close at 11,897.27. The drop erased all of its 123-point gain from Tuesday and put the average on track for a seventh straight week of losses. All 30 companies in the Dow dropped, led by Aluminum maker Alcoa Inc. which lost 2.9 percent. Alcoa's stock tends to swing with shifting moods about the global economy.

Shares in energy companies also fell. Chevron Corp. and Exxon Mobil Corp both lost more than 2 percent.

The S&P 500 index fell 22.45, or 1.7 percent, to 1,265.42. The Nasdaq fell 47.26, or 1.8 percent, to 2,631.46.

If Greece defaults on its debt it could cause investors to dump the bonds of other weak European nations like Portugal, Spain and Ireland, raising borrowing costs for those countries. It could also cause the dollar to further strengthen against the euro, making U.S. products more expensive abroad. That acts as a drag on corporate profits. Earlier in the year a declining dollar played a key role in boosting corporate earnings and sending stocks higher.

Large U.S. companies like Boeing Co., Caterpillar Inc. and Oracle Corp. sell many of their products abroad, which puts their sales and profits at risk if the dollar strengthens. Companies in the S&P 500 index get 20 percent of their profits from Europe.

June is shaping up to be the worst month for the stock market since May 2010. Stocks have risen only three days this month and have fallen 11. The Dow Jones industrial average and the Standard & Poor's 500 index are now 7 percent below the highs they reached in late April.

"It's sell and ask questions later," said Steven Goldman, chief market strategist at Weeden & Co. in Greenwich, Conn.

The euro slid 2 percent against the dollar as the worsening Greek debt crisis undermined confidence in Europe's shared currency.

U.S. government bond prices climbed as investors sought safer assets. The yield on the 10-year Treasury note, which moves opposite its price, fell to 2.97 percent from 3.10 percent late Tuesday.

In the latest sign of how Greece's problems could affect other countries, credit ratings agency Moody's said it may downgrade its ratings of France's three largest banks because of their exposure to Greek debt.

Greece's fiscal problems had appeared to be solved a year ago with a package of emergency loans, but it became clear this spring that the country would need more help from its European neighbors to avoid a default. On Monday, Standard & Poor's slashed Greece's creditworthiness to the bottom of the 131 countries that have ratings.

The June Empire State Manufacturing Survey came in well below forecasts. The survey from the New York Federal Reserve found that conditions for New York manufacturers are weakening and orders are falling. A measure of optimism among factory owners in the state fell to its lowest level since early 2009.

Analysts said investors should expect stock trading to be volatile as uncertainty about the economy persists. The housing market remains weak and the jobs market is sluggish. Questions loom about whether lawmakers will support raising the nation's borrowing limit by an Aug. 2 deadline. The Federal Reserve's $600 billion bond-buying program is also winding down at the end of June. The program was designed to keep interest rates low to encourage borrowing.

"The markets are nervous, investors are nervous, and so we expect volatility," said Oliver Pursche, president of Gary Goldberg Financial Services.

Pandora Media Inc. jumped 9 percent to $17.42 on its first day of trading. The Internet radio company priced its initial public offering at $16 a share, the high end of its range, reflecting hot demand for online companies.

Owens-Illinois Inc. fell 13 percent after the glass container company said higher manufacturing and delivery costs led it to cut its second-quarter earnings outlook.

Five shares fell for every one that rose on the New York Stock Exchange. Despite the sell-off, consolidated trading was only slightly heavier than usual at 4.2 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Better-than-expected reports on home building and jobs pushed two of the three major stock indexes higher Thursday. The broader market ended mixed.

The pace of new home construction quickened last month and the number of people who applied for unemployment benefits fell last week to 414,000, more of an improvement than economists expected. Weekly applications for unemployment have been over 400,000 since April, a rate that suggests job growth is still slow.

Worries that Greece's debt troubles could spread continued to weigh on financial markets. The dollar and U.S government bonds rose as traders moved money into safer investments.

The Dow Jones industrial average gained 64.25 points, or 0.5 percent, to close at 11,961.52. The Dow is now slightly higher for the week.

The S&P 500 rose 2.22, or 0.2 percent, to 1,267.64. The Nasdaq composite lost 7.76, or 0.3 percent, to 2,623.70. The two are less than 1 percent lower this week.

*The NYSE DOW NYSE DOW closed HIGHER +64.25 points +0.54% on Thursday June 16*
Sym .......Last .......Change..........
Dow 11,961.52 +64.25 +0.54% 
Nasdaq 2,623.70 -7.76 -0.29% 
S&P 500 1,267.64 +2.22 +0.18% 
30-yr Bond 4.1570% -0.0042 

NYSE Volume 4,656,694,500  (prior 4,746,029,500)
Nasdaq Volume 1,985,734,500  (prior 2,004,668,750)


*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,698.81 -43.74 -0.76% 
DAX 7,110.20 -4.88 -0.07% 
CAC 40 3,792.31 -14.54 -0.38% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,546.70 -88.70 -1.91% 
Shanghai Comp 2,664.42 +0.14 +0.01%  
Taiwan We... 8,654.43 -177.02 -2.00% 
Nikkei 225 9,411.28 -163.04 -1.70% 
Hang Seng 21,953.11 -390.66 -1.75% 
Straits Times 3,021.13 -33.69 -1.10 

http://finance.yahoo.com/news/Stocks-set-for-flat-opening-apf-1950119799.html?x=0

*Home building, jobs reports push Dow higher

Unemployment, home building reports improve; US government bond yields hit '11 low on Greece *

David K. Randall and Matthew Craft, AP Business Writers, On Thursday June 16, 2011, 4:50 pm EDT 

NEW YORK (AP) -- Better-than-expected reports on home building and jobs pushed two of the three major stock indexes higher Thursday. The broader market ended mixed.

The pace of new home construction quickened last month and the number of people who applied for unemployment benefits fell last week to 414,000, more of an improvement than economists expected. Weekly applications for unemployment have been over 400,000 since April, a rate that suggests job growth is still slow.

Worries that Greece's debt troubles could spread continued to weigh on financial markets. The dollar and U.S government bonds rose as traders moved money into safer investments.

The Dow Jones industrial average gained 64.25 points, or 0.5 percent, to close at 11,961.52. The Dow is now slightly higher for the week.

The S&P 500 rose 2.22, or 0.2 percent, to 1,267.64. The Nasdaq composite lost 7.76, or 0.3 percent, to 2,623.70. The two are less than 1 percent lower this week.

The yield on the 10-year Treasury note fell to 2.92 percent, the lowest since November, from 2.97 percent late Wednesday. Bond yields fall when prices rise.

Home Depot Inc. rose 1.8 percent following the better than expected report on home construction and an upgrade by analysts.

Kroger Co. rose 4.5 percent after the supermarket chain's earnings rose as shoppers paid more for groceries and gas. Winnebago Industries Inc. tumbled 20 percent after the motor home company said profits sank nearly 80 percent in its last quarter.

Not all the economic news was positive. A survey by the Federal Reserve Bank of Philadelphia found that manufacturing slowed in that region, one day after a similar report found that manufacturing was slowing in the New York area. A series of weaker economic indicators over the past two months have led some analysts to trim their expectations for the year.

Investors are now starting to expect negative economic news, said Uri Landesdman, president of Platinum Partners, an investment manager in New York. That dulls the impact of each downward sign, he said.

"There's still a feeling out there that even though economic data has been incrementally terrible, businesses are still cooking," Landesman said. He also cautioned that the market could continue to slide until the next batch of corporate earnings reports, which start to come out in mid-July.

Overseas markets dipped for a second day because of fears that Greece will be forced to default on its bonds, an event that could trigger another financial crisis. The Euro Stoxx 50, an index of blue chip companies in countries that use the euro, fell 0.5 percent. Benchmark indexes in Japan and China each closed with losses of more than 1.5 percent.

U.S. stocks have fallen for six straight weeks because of rising concerns that the economy isn't as strong as previously thought. If the S&P 500 closes down this week, it would mark the longest losing streak since the index dropped for eight straight weeks in early 2001 as the dot-com bubble was imploding.

High gas prices and a recession in Japan following its earthquake and nuclear disaster have combined to slow business and consumer spending. The S&P index is down nearly 7 percent since hitting its high for the year on April 29.

Falling stocks outpaced rising ones by a small margin on the New York Stock Exchange. Consolidated trading volume was 4.1 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Signs that a solution to Greece's debt problems could be near helped the stock market eke out its first week of gains since April.

Germany softened its conditions for giving Greece more loans on Friday, putting Greece closer to getting more financial support and avoiding a default. Global financial markets were rattled earlier this week when a default by Greece seemed imminent.

Traders worry that a default by Greece could trigger another financial crisis, weakening the euro and leading to widespread losses for banks and governments that hold Greek bonds. A default would also push up the value of lower-risk assets like the dollar and U.S. government bonds.

The Dow Jones industrial average closed up 42.84, or 0.4 percent, at 12,004.36. The Standard & Poor's 500 index rose 3.86, or 0.3 percent, to 1,271.50.

The gains weren't widespread. The technology-focused Nasdaq composite index lost 7.22, or 0.3 percent, to 2,616.48 after signs that large companies are faltering.

*The NYSE DOW NYSE DOW closed HIGHER +42.84 points +0.36%  on Friday June 17*
Sym .......Last .......Change..........
Dow 12,004.36 +42.84 +0.36% 
Nasdaq 2,616.48 -7.22 -0.28% 
S&P 500 1,271.50 +3.86 +0.30% 
30-yr Bond 4.2030% +0.0046 

NYSE Volume 4,925,850,000  (prior 4,656,694,500)
Nasdaq Volume 2,491,541,250 (prior  1,985,734,500)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,714.94 +16.13 +0.28% 
DAX 7,164.05 +53.85 +0.76% 
CAC 40 3,823.74 +31.43 +0.83% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,551.10 +4.40 +0.10% 
Shanghai Comp 2,643.65 -20.64 -0.77% 
Taiwan We... 8,636.10 -18.33 -0.21% 
Nikkei 225 9,351.40 -59.88 -0.64% 
Hang Seng 21,695.26 -257.85 -1.17% 
Straits Times 3,005.28 -14.85 -0.49% 

http://finance.yahoo.com/news/Stock...3.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks have their first winning week since April

Stocks post first weekly gains since April on signs that Greece will get more loans *

Daniel Wagner and David K. Randall, AP Business Writers, On Friday June 17, 2011, 5:14 pm EDT 

Signs that a solution to Greece's debt problems could be near helped the stock market eke out its first week of gains since April.

Germany softened its conditions for giving Greece more loans on Friday, putting Greece closer to getting more financial support and avoiding a default. Global financial markets were rattled earlier this week when a default by Greece seemed imminent.

Traders worry that a default by Greece could trigger another financial crisis, weakening the euro and leading to widespread losses for banks and governments that hold Greek bonds. A default would also push up the value of lower-risk assets like the dollar and U.S. government bonds.

The Dow Jones industrial average closed up 42.84, or 0.4 percent, at 12,004.36. The Standard & Poor's 500 index rose 3.86, or 0.3 percent, to 1,271.50.

The gains weren't widespread. The technology-focused Nasdaq composite index lost 7.22, or 0.3 percent, to 2,616.48 after signs that large companies are faltering.

BlackBerry maker Research In Motion Ltd. plummeted 21 percent after giving a surprisingly weak forecast for the current quarter and the remainder of the year. The company is struggling to compete with Apple Inc.'s iPhone and Android phones. Other technology companies like Intel Corp. and Cisco Systems Inc. fell 0.3 percent, the biggest drop among the 10 industries that make up the S&P index.

Among other U.S. companies, credit research firm Moody's Corp. dropped 5 percent after analysts downgraded the company. McGraw-Hill Cos., which owns rival rating agency Standard & Poor's, fell nearly 4 percent. And BJ's Wholesale Club Inc. dipped nearly 1 percent after two private equity firms made a bid for the warehouse club chain.

Germany's softer stance toward assisting Greece pulled the price of lower-risk investments like government bonds lower. The yield on the benchmark 10-year Treasury note rose to 2.94 percent early Friday from 2.90 percent Thursday. Bond yields rise when prices fall.

The S&P 500 finished the week just 0.04 percent higher than where it started. That tiny gain was enough to break a six-week losing streak that went back to the last week in April. The S&P 500 index hits its high for the year on April 29, and has fallen nearly 7 percent since then.

Nearly two stocks rose for every one that fell on the New York Stock Exchange Friday. Consolidated volume came to 4.4 billion shares.

I have installed Internet Explorer 9 which has a few issues
-- I needed to use Compatibility View settings

2456


----------



## davede

Could you please tell the ASX to follow the US today!

Getting awfully sick of overcautious oz investors (or capital flight - whichever you'd prefer).


----------



## bigdog

Source: http://finance.yahoo.com

Investors largely put aside their concerns about the Greek financial crisis Monday and focused instead on value. Stocks rose broadly after the market shook off its longest weekly losing streak in nearly a decade.

The downturn brought the S&P 500 close to its average level over the prior 200 days. So long as the index doesn't sink far below that level, many technical traders see it as a sign to start buying stocks again. The S&P is now 6 percent below the 2011 high it reached on April 29.

"In the short term, stocks have been oversold, and you're going to get some sort of bounce, whether justified or not, just for technical reasons," said Paul Simon, chief investment officer for Tactical Allocation Group, which has $1.5 billion in assets under advisement.

The S&P 500 index rose 6.86 points, 0.5 percent, to close at 1,278.36. The Dow Jones industrial average added 76.02 points, or 0.6 percent, to 12,080.38. The Nasdaq composite gained 13.18, or 0.5 percent, to 2,629.66.

Health care companies like Aetna Inc. and Humana Inc. rose 1 percent, the largest gain among the 10 industry groups that make up the S&P 500 index. Financial companies like Morgan Stanley, which lost 1.9 percent, were the only group to lose ground.

The S&P 500 notched its third straight day of gains, the longest stretch of increases in the stock market for nearly a month. The index eked out a tiny gain last week, breaking a six-week losing streak driven by concerns that U.S. economic growth would falter in the second half of the year and that Greece's debt crisis would spread. It was the S&P's longest slide since 2002.

*The NYSE DOW NYSE DOW closed HIGHER +76.02 points +0.63% on Monday June 20*
Sym .......Last .......Change..........
Dow 12,080.38 +76.02 +0.63% 
Nasdaq 2,629.66 +13.18 +0.50% 
S&P 500 1,278.36 +6.86 +0.54% 
30-yr Bond 4.2040% +0.0001 

NYSE Volume 3,477,099,750 (prior  4,925,850,000)
Nasdaq Volume 1,651,311,000  (prior 2,491,541,250)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,693.39 -21.55 -0.38% 
DAX 7,150.21 -13.84 -0.19% 
CAC 40 3,799.66 -24.08 -0.63% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,512.50 -38.60 -0.85% 
Shanghai Comp 2,622.63 -20.19 -0.76% 
Taiwan We... 8,530.68 -105.42 -1.22% 
Nikkei 225 9,354.32 +2.92 +0.03% 
Hang Seng 21,599.51 -95.75 -0.44% 
Straits Times 3,013.88 +8.60 +0.29% 

http://finance.yahoo.com/news/Stock...1.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Stocks post third straight day of gains

Stocks rise to first three-day gain since May on hopes delay in Greek aid won't mean default *

Stan Choe and David K. Randall, AP Business Writers, On Monday June 20, 2011, 4:39 pm EDT 

NEW YORK (AP) -- Investors largely put aside their concerns about the Greek financial crisis Monday and focused instead on value. Stocks rose broadly after the market shook off its longest weekly losing streak in nearly a decade.

The downturn brought the S&P 500 close to its average level over the prior 200 days. So long as the index doesn't sink far below that level, many technical traders see it as a sign to start buying stocks again. The S&P is now 6 percent below the 2011 high it reached on April 29.

"In the short term, stocks have been oversold, and you're going to get some sort of bounce, whether justified or not, just for technical reasons," said Paul Simon, chief investment officer for Tactical Allocation Group, which has $1.5 billion in assets under advisement.

The S&P 500 index rose 6.86 points, 0.5 percent, to close at 1,278.36. The Dow Jones industrial average added 76.02 points, or 0.6 percent, to 12,080.38. The Nasdaq composite gained 13.18, or 0.5 percent, to 2,629.66.

Health care companies like Aetna Inc. and Humana Inc. rose 1 percent, the largest gain among the 10 industry groups that make up the S&P 500 index. Financial companies like Morgan Stanley, which lost 1.9 percent, were the only group to lose ground.

The S&P 500 notched its third straight day of gains, the longest stretch of increases in the stock market for nearly a month. The index eked out a tiny gain last week, breaking a six-week losing streak driven by concerns that U.S. economic growth would falter in the second half of the year and that Greece's debt crisis would spread. It was the S&P's longest slide since 2002.

Signs that the European financial crisis may be contained helped ease investors' concerns. European Union officials in Luxemburg said Monday that the EU would take steps to prevent Greece's debt problems from affecting other struggling countries like Ireland and Portugal.

European leaders failed over the weekend to agree on releasing more financial aid to Greece, saying the country must first agree to more budget cuts. Greece's recent efforts to slash spending have led to street protests and political turmoil in Athens. The Greek government faces a confidence vote on Tuesday.

Prime Minister George Papandreou's newly-reshuffled government is expected to prevail in the vote, and officials say they expect Greece to get its next installment of emergency loans in July. If Greece were to default, it could trigger losses for the banks that hold Greek bonds and more turmoil in financial markets.

Some analysts say investors are ready to move beyond the Greek crisis and focus on corporate earnings and the U.S. economy.

"There's a little fatigue about hearing about the same problems, and there's no shock factor anymore," said Oliver Pursche, president of Gary Goldberg Financial Services. Traders are now starting to look ahead to the Federal Reserve's two-day policy meeting, which begins Tuesday, and the next round of corporate earnings reports that begin in July, he said.

Analysts expect that operating earnings per share for companies in the S&P 500 index rose 14 percent in the second quarter. They also expect the Fed to keep interest rates at nearly zero, a record low.

Among U.S. companies, PNC Financial Services Group Inc. fell 2 percent after saying it would buy the U.S. retail operations of Royal Bank of Canada for $3.45 billion. The deal will make PNC the fifth biggest U.S. bank with 2,870 branches.

Whole Foods Market Inc. gained 2.2 percent after a BMO Capital Markets analyst upgraded the stock following a recent sell-off. And Wal-Mart stores Inc. rose 0.4 percent after the Supreme Court blocked a sex discrimination lawsuit brought against the retailer by a large group of female employees.

Two stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 3.1 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks rose for a fourth day straight Tuesday on hopes that a vote of confidence in the Greek government will help the country avoid a default.

The vote is expected late Tuesday. A successful vote could reassure investors that Greece will push through budget cuts required to get the latest installment of emergency loans. Worries that a default by Greece could lead to a wider financial crisis have been a drag on markets since early May.

Materials producers and other companies whose profits are closely tied to global economic growth had the biggest gains Tuesday. Aluminum producer Alcoa Inc. rose 4 percent, leading the 30 companies that make up the Dow. Gains were widespread, with nine out of 10 industry groups higher. Only consumer goods saw a decline.

"One of the reasons we're more positive than negative on stocks is that there's so much bad news priced into the markets right now," said Eric Thorne, an investment adviser and senior vice president at of Bryn Mawr Trust Wealth Management, which has $4 billion in assets under management. "The bar has been set so low for housing and jobs that it makes us feel like we may be able to jump over that low bar."

The S&P 500 index rose 17.16 points, or 1.3 percent, to close at 1295.52. The last time the S&P rose four days straight was at the end of May.

The Dow Jones industrial average rose 109.63, slightly less than 1 percent, to 12,190.01. The Nasdaq composite rose 57.60, or 2.2 percent, to 2,687.26.

*The NYSE DOW NYSE DOW closed HIGHER +109.63 points +0.91% on Tuesday June 21*
Sym .......Last .......Change..........
Dow 12,190.01 +109.63 +0.91% 
Nasdaq 2,687.26 +57.60 +2.19% 
S&P 500 1,295.52 +17.16 +1.34% 
30-yr Bond 4.2190% +0.0150 

NYSE Volume 4,071,324,500  (prior 3,477,099,750)
Nasdaq Volume 1,928,330,000  (prior 1,651,311,000)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,775.31 +81.92 +1.44% 
DAX 7,285.51 +135.30 +1.89% 
CAC 40 3,877.07 +77.41 +2.04% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,565.20 +52.70 +1.17% 
Shanghai Comp 2,647.68 +26.43 +1.01% 
Taiwan We... 8,597.62 +66.94 +0.78% 
Nikkei 225 9,459.66 +105.34 +1.13% 
Hang Seng 21,850.59 +251.08 +1.16% 
Straits Times 3,053.51 +39.91 +1.32% 

http://finance.yahoo.com/news/Stock...7.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks rise for fourth straight day on Greek hopes

Stocks climb on hopes that Greek confidence vote will help country avoid a debt default *

Stan Choe and Matthew Craft, AP Business Writers, On Tuesday June 21, 2011, 5:06 pm EDT 

NEW YORK (AP) -- Stocks rose for a fourth day straight Tuesday on hopes that a vote of confidence in the Greek government will help the country avoid a default.

The vote is expected late Tuesday. A successful vote could reassure investors that Greece will push through budget cuts required to get the latest installment of emergency loans. Worries that a default by Greece could lead to a wider financial crisis have been a drag on markets since early May.

Materials producers and other companies whose profits are closely tied to global economic growth had the biggest gains Tuesday. Aluminum producer Alcoa Inc. rose 4 percent, leading the 30 companies that make up the Dow. Gains were widespread, with nine out of 10 industry groups higher. Only consumer goods saw a decline.

"One of the reasons we're more positive than negative on stocks is that there's so much bad news priced into the markets right now," said Eric Thorne, an investment adviser and senior vice president at of Bryn Mawr Trust Wealth Management, which has $4 billion in assets under management. "The bar has been set so low for housing and jobs that it makes us feel like we may be able to jump over that low bar."

The S&P 500 index rose 17.16 points, or 1.3 percent, to close at 1295.52. The last time the S&P rose four days straight was at the end of May.

The Dow Jones industrial average rose 109.63, slightly less than 1 percent, to 12,190.01. The Nasdaq composite rose 57.60, or 2.2 percent, to 2,687.26.

Before posting a small gain last week, stocks indexes fell for six straight weeks after reaching a peak for the year on April 29.

Another reason stocks are rising is that analysts expect corporate earnings growth to remain strong. That's despite more than a dozen reports since May that showed the U.S. economy has slowed. Home prices and sales have declined, manufacturing growth has slowed and the job market remains weak.

Even so, analysts surveyed by FactSet forecast that companies in the Standard & Poor's 500 index will earn 14 percent more in the second quarter compared with last year. Large U.S. companies begin reporting quarterly results in early July.

Carnival Corp. rose 4.2 percent after the cruise operator reported revenue and earnings that beat expectations.

Best Buy Co. rose 2.6 percent after increasing its quarterly dividend 7 percent, to 16 cents per share. The electronics retailer also approved a program to buy back up to $5 billion of its stock.

Walgreen, the biggest U.S. drugstore chain, fell 4.2 percent after saying negotiations to stay in Express Script's pharmacy provider network have reached an impasse. Their deal, worth $5.3 billion in revenue this fiscal year, expires at the end of 2011.

European stocks climbed. The gains accelerated through the day after U.S. stocks moved higher. France's CAC 40 index rose 2 percent, and Germany's DAX index rose 1.9 percent.

The Federal Reserve began a two-day policy meeting Tuesday. Economists expect the central bank to keep interest rates at record lows, but most say the Fed won't announce another round of bond buying to help boost the economy.

Six stocks rose for every one that fell on the New York Stock Exchange. Trading volume was 3.6 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks faded to a weak close Wednesday after Federal Reserve Chairman Ben Bernanke said the drags on the U.S. economy may be worse than previously thought.

Major indexes had been mixed for much of the day but turned lower in mid-afternoon trading as Bernanke spoke at a news conference.

Responding to a reporter's question, Bernanke said that some of the problems plaguing the economy such as weakness in the financial industry and the housing market and "may be stronger and more persistent than we thought."

Earlier, the Fed released a slightly lower forecast for U.S. economic growth this year. The Fed said it now expects the economy to grow between 2.7 percent and 2.9 percent this year, down from its previous estimate of 3.1 percent to 3.3 percent after its last meeting in April.

The Federal Reserve left interest rates unchanged at the end of its two-day meeting Wednesday.

The Dow Jones industrial average and the Standard & Poor's 500 index slumped after Bernanke's cautious remarks about the economy. Bernanke also said Greece's debt crisis was a "very difficult situation."

The Dow closed down 80.34 points, or 0.7 percent, at 12,109.67. The S&P 500 index fell 8.38 points, or 0.7 percent, to close at 1,287.14. The Nasdaq fell 18.07 points, or 0.7 percent, to 2,669.19.

*The NYSE DOW NYSE DOW closed LOWER -80.34 points -0.66%  on Wenesday June 22*
Sym .......Last .......Change..........
Dow 12,109.67 -80.34 -0.66% 
Nasdaq 2,669.19 -18.07 -0.67% 
S&P 500 1,287.14 -8.38 -0.65% 
30-yr Bond 4.2150% -0.0040 

NYSE Volume 3,718,415,250  (prior 4,071,324,500)
Nasdaq Volume 1,627,536,500  (prior 1,928,330,000)


*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,772.99 -2.32 -0.04% 
DAX 7,278.19 -7.32 -0.10% 
CAC 40 3,871.37 -5.70 -0.15% 


*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,590.80 +25.60 +0.56% 
Shanghai Comp 2,648.98 +2.49 +0.09% 
Taiwan We... 8,621.04 +23.42 +0.27% 
Nikkei 225 9,629.43 +169.77 +1.79% 
Hang Seng 21,859.97 +9.38 +0.04% 
Straits Times 3,050.56 -2.95 -0.10% 

http://news.yahoo.com/s/ap/20110622/ap_on_bi_st_ma_re/us_wall_street

*Stocks sink as Bernanke voices caution on economy*

By STAN CHOE and MATTHEW CRAFT, AP Business Writers Stan Choe And Matthew Craft, Ap Business Writers – 1 hr 22 mins ago

NEW YORK – Stocks faded to a weak close Wednesday after Federal Reserve Chairman Ben Bernanke said the drags on the U.S. economy may be worse than previously thought.

Major indexes had been mixed for much of the day but turned lower in mid-afternoon trading as Bernanke spoke at a news conference.

Responding to a reporter's question, Bernanke said that some of the problems plaguing the economy such as weakness in the financial industry and the housing market and "may be stronger and more persistent than we thought."

Earlier, the Fed released a slightly lower forecast for U.S. economic growth this year. The Fed said it now expects the economy to grow between 2.7 percent and 2.9 percent this year, down from its previous estimate of 3.1 percent to 3.3 percent after its last meeting in April.

The Federal Reserve left interest rates unchanged at the end of its two-day meeting Wednesday.

The Dow Jones industrial average and the Standard & Poor's 500 index slumped after Bernanke's cautious remarks about the economy. Bernanke also said Greece's debt crisis was a "very difficult situation."

The Dow closed down 80.34 points, or 0.7 percent, at 12,109.67. The S&P 500 index fell 8.38 points, or 0.7 percent, to close at 1,287.14. The Nasdaq fell 18.07 points, or 0.7 percent, to 2,669.19.

Even with the dimmer outlook, the Fed pledged no new help to boost the economy. The central bank's $600 billion bond-buying program draws to a close at the end of this month.

Among heavily traded companies, FedEx Corp. reported a 33 percent jump in income and said it expects global economic growth to continue. The package delivery company's stock rose 2.6 percent.

Analysts consider results from FedEx and its rival UPS Corp. important indicators for the broader economy because they ship orders for all kinds of businesses.

CarMax Inc. rose 7 percent, the biggest gain in the S&P 500 index. The dealership owner said profit rose 25 percent on higher used-vehicle prices.

Jabil Circuit Inc. rose 3 percent after the electronics part maker said its earnings doubled last quarter.

AeroVironment Inc. jumped 21 percent after the maker of unmanned aerial drones and charging systems for electric cars said its income rose 13 percent.

In Greece, the new government narrowly won a vote of confidence. That may help it push through budget cuts and other austerity measures that it needs to secure more emergency loans.

The cash will help the country at least delay a default on its debt, an event that would hurt banks and the European economy. Worries about a Greek default have weighed on global financial markets since May.

Three stocks fell for every two that rose on the New York Stock Exchange Wednesday. Volume was light at 3.3 billion shares, below the daily average of 3.9 billion over the previous two months


----------



## bigdog

Source: http://finance.yahoo.com

What began with a steep drop in the stock market ended with a modest decline Thursday. The Dow Jones industrial average lost just 60 points after being down nearly 240 points earlier in the day.

A jump in the number of people applying for jobless benefits and plummeting oil prices drove stocks lower at the market open. By 11 a.m., the Dow was down 234 points. Then came late afternoon reports that Greece may have reached a deal for a new austerity plan. The Dow made up nearly 100 points between 2:45 and 3 p.m. alone.

The Dow finished with a loss of 59.67 points, or 0.5 percent, to 12,050. The Standard & Poor's 500 index, down as many as 24 points, closed down just 3.64, or 0.3 percent, to 1,283.50.

Since late April, reports on manufacturing, retail sales, home sales and other economic indicators have come in weaker than economists anticipated. Europe's debt problems and a slowing growth rate in China have also raised concerns about the global economy. On Wednesday, Federal Reserve Chairman Ben Bernanke said problems plaguing the economy may last longer than previously thought.

As a result, the stock market has fallen six of the last seven weeks. The S&P 500 is down 5.9 percent from its high for the year of 1363.61 in April.

*The NYSE DOW NYSE DOW closed LOWER -59.67 points -0.49% on Thursday June 23*
Sym .......Last .......Change..........
Dow 12,050.00 -59.67 -0.49% 
Nasdaq 2,686.75 +17.56 +0.66% 
S&P 500 1,283.50 -3.64 -0.28% 
30-yr Bond 4.1570% -0.0580 

NYSE Volume 4,983,459,000  (prior 3,718,415,250)
Nasdaq Volume 2,081,759,250  (prior 1,627,536,500)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,674.38 -98.61 -1.71% 
DAX 7,149.44 -128.75 -1.77% 
CAC 40 3,787.79 -83.58 -2.16% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,561.40 -29.40 -0.64% 
Shanghai Comp 2,687.59  +38.27 +1.44%  
Taiwan We... 8,567.28 -53.76 -0.62% 
Nikkei 225 9,596.74 -32.69 -0.34% 
Hang Seng 21,759.14 -100.83 -0.46% 
Straits Times 3,044.72 +1.89 +0.06% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks dip as job market worries continue

Energy stocks lead market lower as oil prices plunge; unemployment claims jump *

Matthew Craft and David K. Randall, AP Business Writer, On Thursday June 23, 2011, 5:25 pm EDT 

NEW YORK (AP) -- What began with a steep drop in the stock market ended with a modest decline Thursday. The Dow Jones industrial average lost just 60 points after being down nearly 240 points earlier in the day.

A jump in the number of people applying for jobless benefits and plummeting oil prices drove stocks lower at the market open. By 11 a.m., the Dow was down 234 points. Then came late afternoon reports that Greece may have reached a deal for a new austerity plan. The Dow made up nearly 100 points between 2:45 and 3 p.m. alone.

The Dow finished with a loss of 59.67 points, or 0.5 percent, to 12,050. The Standard & Poor's 500 index, down as many as 24 points, closed down just 3.64, or 0.3 percent, to 1,283.50.

Since late April, reports on manufacturing, retail sales, home sales and other economic indicators have come in weaker than economists anticipated. Europe's debt problems and a slowing growth rate in China have also raised concerns about the global economy. On Wednesday, Federal Reserve Chairman Ben Bernanke said problems plaguing the economy may last longer than previously thought.

As a result, the stock market has fallen six of the last seven weeks. The S&P 500 is down 5.9 percent from its high for the year of 1363.61 in April.

"This is no longer looking like a small soft patch. It's beginning to look more like quicksand," said Lawrence Creatura, a stock portfolio manager at Federated Investors.

The continued rise in first-time claims for unemployment benefits indicated little improvement in the job market since May, when there was a drop in the number of new jobs created. New applications for unemployment benefits rose to 429,000 last week, from 420,000 the week before.

"400,000 is the magic number and we've been above it for 11 weeks," Creatura said.

Energy companies like Exxon Mobil and Chevron Corp. led the market downward after oil prices tumbled nearly 5 percent. Oil dropped after the International Energy Agency said 60 million barrels of oil would be released from reserves to make up for the loss of Libyan exports. Oil prices had spiked following unrests in Middle East and North Africa, raising concerns that higher fuel costs would slow the world economy.

Companies like Netflix, Priceline.com and others in the consumer discretionary industry were mostly up. Overall, the group rose 0.4 percent. Investors are betting that a drop in oil costs could lead consumers to spend more money on things like movies, restaurants and clothing. Netflix was up 2.9 percent. Chipotle Mexican Grill gained 2.2 percent.

Companies that benefit from lower fuel costs also rose. Airline stocks like United Continental Holdings Inc. and AMR Corp, the parent company of American Airlines, rose more than 4 percent.

The two indexes most tied to economic growth fared better than the broader market. The tech-focused Nasdaq composite index was up 17.56, or 0.7 percent, to 2,686.75. And the Russell 2000 index of small companies gained 0.4 percent. For the week, both are up 2.7 percent.

"We're starting to see that the supply-chain disruptions caused by the tragedy in Japan are easing a bit, and the biggest beneficiaries of that are technology and auto-supply companies" which tend to be smaller businesses, said Burt White, the chief investment officer at LPL Financial.

Among the most active stocks, Bed Bath & Beyond gained 5.3 percent after the home furnishings retailer posted a 31 percent jump in income. The company also raised its earnings forecast for the rest of the year, in part because of cost controls it has in place. ConAgra Foods Inc. fell 0.2 percent. The owner of Slim Jim and Hebrew National brands cut its earnings estimate for the current quarter.

Government bond prices were higher as traders shifted money into investments that are considered safe, pushing long-term interest rates lower. The yield on the 10-year Treasury note sank to 2.90 percent, near its low mark for the year. Bond yields fall when their prices rise.

Even so, portfolio manager Creatura says that the recent market slide could represent a chance to pick up some stocks on the cheap. Current prices already reflect reaction to most of the economy's problems, he says. "The most fearful times can be the best times to invest," he said. "It's not only what you buy, it's the price you pay that matters."

Three stocks fell for every two that rose on the New York Stock Exchange. Volume was slightly above average at 4.4 billion.


----------



## bigdog

Source: http://finance.yahoo.com

If weak financial results from big tech companies are a sign of what's to come, stock indexes are in for a tough summer.

Stocks fell Friday, giving the market another losing week, after poor earnings reports from two major technology companies suggested that companies invested less in new technology as the economic recovery slowed.

Fears of a spreading European debt crisis also weighed on markets. Italian bank stocks plunged and trading in some of them was halted after Moody's warned that it might downgrade their credit ratings.

"I think it spooked a lot of people," said Frederick Rizzo, who analyzes European banks for T. Rowe Price. "The markets are really emotional right now."

The Dow Jones industrial average fell 115.42 points, or 1 percent, to 11,934.58. The Standard & Poor's 500 index fell 15.05, or 1.2 percent, to 1,268.45. The Nasdaq composite fell 33.86, or 1.3 percent, to 2,652.89.

The decline erased all of this week's gains for the Dow Jones industrial average and S&P index. The broad stock market has now fallen for seven of the last eight weeks, largely because of concerns that the U.S. economy is slowing and that Europe's debt problems may lead to another financial crisis. The S&P 500 is down 7 percent since it hit a high for the year on April 29.

*The NYSE DOW NYSE DOW closed LOWER  -115.42 points -0.96%  on Friday June 24*
Sym .......Last .......Change..........
Dow 11,934.58 -115.42 -0.96% 
Nasdaq 2,652.89 -33.86 -1.26% 
S&P 500 1,268.45 -15.05 -1.17% 
30-yr Bond 4.1740% +0.0170 

NYSE Volume 5,359,710,500  (prior 4,983,459,000) 
Nasdaq Volume 4,036,700,250  (prior 2,081,759,250)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,697.72 +23.34 +0.41% 
DAX 7,121.38 -28.06 -0.39% 
CAC 40 3,784.80 -2.99 -0.08% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,565.00 +3.60 +0.08% 
Shanghai Comp 2,745.75 +57.50 +2.14% 
Taiwan We... 8,532.83 -34.45 -0.40% 
Nikkei 225 9,678.71 +81.97 +0.85% 
Hang Seng 22,171.95 +412.81 +1.90% 
Straits Times 3,066.85 +22.13 +0.73% 

http://finance.yahoo.com/news/Stock...7.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks end another week lower on Europe worries

Stocks fall on weak tech results and new concerns about European banks *

Daniel Wagner and David K. Randall, AP Business Writers, On Friday June 24, 2011, 7:15 pm 

If weak financial results from big tech companies are a sign of what's to come, stock indexes are in for a tough summer.

Stocks fell Friday, giving the market another losing week, after poor earnings reports from two major technology companies suggested that companies invested less in new technology as the economic recovery slowed.

Fears of a spreading European debt crisis also weighed on markets. Italian bank stocks plunged and trading in some of them was halted after Moody's warned that it might downgrade their credit ratings.

"I think it spooked a lot of people," said Frederick Rizzo, who analyzes European banks for T. Rowe Price. "The markets are really emotional right now."

The Dow Jones industrial average fell 115.42 points, or 1 percent, to 11,934.58. The Standard & Poor's 500 index fell 15.05, or 1.2 percent, to 1,268.45. The Nasdaq composite fell 33.86, or 1.3 percent, to 2,652.89.

The decline erased all of this week's gains for the Dow Jones industrial average and S&P index. The broad stock market has now fallen for seven of the last eight weeks, largely because of concerns that the U.S. economy is slowing and that Europe's debt problems may lead to another financial crisis. The S&P 500 is down 7 percent since it hit a high for the year on April 29.

Technology stocks were broadly lower. Micron Technology Inc. fell 14.5 percent after the company said lower sales of computer chips hurt its earnings, which were far less than analysts had expected. Oracle Corp. fell 4 percent after its sales of computer hardware fell sharply. Cisco Systems Inc. fell 3.5 percent, and Microsoft Corp. lost 1.3 percent.

Government bond prices rose to their highest level of the year as investors favored lower-risk assets. The yield on the 10-year Treasury dipped to 2.86 percent.

The U.S. economy has cooled since late April. Recent reports on housing, employment, manufacturing and retail sales all have been weak. The debt crisis in Greece and fears that China's growth is slowing have also pushed markets lower.

"No one is expecting good news, but if it's worse than expectations, this is really a very shaky market," said Uri Landesman, president of Platinum Partners, a hedge fund.

Landesman expects that the Standard & Poor's 500 index will fall to 1,200 this summer as more companies report second-quarter earnings next month. The last time the S&P 500 crossed that threshold was in December 2010.

Stocks fell despite the fact that the government said the economy grew at a 1.9 percent annual rate in the first quarter, slightly higher than an earlier estimate of 1.8 percent. The figure still indicated very slow growth for a post-recession recovery. Economists expect little improvement in the second quarter, which ends next week.

Still, another government report showed that businesses ordered more machinery, equipment and airplanes in May than in April. Orders of such durable goods increased by 1.9 percent in May after a sharp decline in April.

Two stocks fell for every one that rose on the New York Stock Exchange. Volume was slightly above average at 4.4 billion shares.

3481

Using IE9 and having problems sorting the charts!!


----------



## bigdog

Source: http://finance.yahoo.com

Signs that a widespread European debt crisis could be averted helped send stocks up Monday.

French banks agreed to accept slower repayment of Greece's debt, giving Greece more time to meet its other financial obligations. French banks hold $21.3 billion in Greek government debt. Greek lawmakers also began debate more budget-cutting measures. Greece's parliament needs to pass the new austerity plan this week before the country can receive a $17 billion installment from a rescue package arranged last year.

The U.S. government, meanwhile, said that spending by consumers decreased in May, after adjusting for inflation. April's figures were also revised downward, revealing the first decline since January 2010. Consumer spending accounts for 70 percent of economic activity.

Gas prices nearing $4 per gallon in late April and early May curtailed spending on retail goods such as televisions and clothes. Since then, gas prices have fallen to a national average of $3.57 per gallon. Oil prices have declined steeply over the last few weeks, which should eventually translate into even lower pump prices. Analysts say lower gas prices could help boost consumer spending in other areas in the coming months.

The Dow Jones industrial average rose 108.98 points, or 0.9 percent, to close at 12,043.56. The Standard & Poor's 500 index rose 11.65, or 0.9 percent, to 1,280.10. The Nasdaq composite index rose 35.39, or 1.3 percent, to 2,688.28.

*The NYSE DOW NYSE DOW closed HIGHER +108.98 points +0.91% on Monday June 27*
Sym .......Last .......Change..........
Dow 12,043.56 +108.98 +0.91% 
Nasdaq 2,688.28 +35.39 +1.33% 
S&P 500 1,280.10 +11.65 +0.92% 
30-yr Bond 4.2820% +0.1080 

NYSE Volume 3,602,571,750  (prior 5,359,710,500)
Nasdaq Volume 1,729,619,875  (prior 4,036,700,250)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,722.34 +24.62 +0.43% 
DAX 7,107.90 -13.48 -0.19% 
CAC 40 3,796.55 +11.75 +0.31% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,513.80 -51.20 -1.12% 
Shanghai Comp 2,758.23 +12.02 +0.44% 
Taiwan We... 8,500.16 -32.67 -0.38% 
Nikkei 225 9,578.31 -100.40 -1.04% 
Hang Seng 22,041.77 -130.18 -0.59% 
Straits Times 3,050.67 -16.18 -0.53% 

http://finance.yahoo.com/news/Euro-...7.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Euro debt news lifts stocks after last week's loss

US stocks rebound from last week's losses after encouraging news on European debt crisis *

Daniel Wagner and Matthew Craft, AP Business Writers, On Monday June 27, 2011, 5:05 pm 

Signs that a widespread European debt crisis could be averted helped send stocks up Monday.

French banks agreed to accept slower repayment of Greece's debt, giving Greece more time to meet its other financial obligations. French banks hold $21.3 billion in Greek government debt. Greek lawmakers also began debate more budget-cutting measures. Greece's parliament needs to pass the new austerity plan this week before the country can receive a $17 billion installment from a rescue package arranged last year.

The U.S. government, meanwhile, said that spending by consumers decreased in May, after adjusting for inflation. April's figures were also revised downward, revealing the first decline since January 2010. Consumer spending accounts for 70 percent of economic activity.

Gas prices nearing $4 per gallon in late April and early May curtailed spending on retail goods such as televisions and clothes. Since then, gas prices have fallen to a national average of $3.57 per gallon. Oil prices have declined steeply over the last few weeks, which should eventually translate into even lower pump prices. Analysts say lower gas prices could help boost consumer spending in other areas in the coming months.

The Dow Jones industrial average rose 108.98 points, or 0.9 percent, to close at 12,043.56. The Standard & Poor's 500 index rose 11.65, or 0.9 percent, to 1,280.10. The Nasdaq composite index rose 35.39, or 1.3 percent, to 2,688.28.

Analysts said the rally was stronger than the economic news would suggest in part because many traders invest when indices hit certain pre-determined price levels.

In this case, the key number is 1,257 -- the S&P's break-even figure for the year, said Todd Salamone, director of research at Schaeffer's Investment Research. The S&P approached that level in March and again earlier this month. Both times, the market rallied as so-called technical traders poured into the market.

The Monday-morning rally was driven by "a combination of trading on that (break-even) level and a catalyst, the situation in Europe," Salamone said. "Whether we sustain it is another question."

Stocks rose broadly. All 10 industry groups in the S&P were higher, with financials, information technology and retail stocks showing the strongest gains.

Amazon.com Inc. rose 4.5 percent to $201.25, making it the top-preforming company in the S&P 500. Morgan Stanley analysts said the online retailer should benefit from expanding international sales in places like Japan and Germany, where densely populated cities leave little room for large low-price retail stores.

Shares of electronics maker Molex Inc. fell 4 percent, the most in the S&P, after analysts with Ticonderoga Securities downgraded the stock to "sell" from "neutral." They said the slow economy has hurt demand for tech gadgets like the smart phones that Molex manufactures.

Broad markets have dropped for seven of the past eight weeks as traders received a string of dismal economic data showing that the recovery is slowing. The Dow sank 1 percent on Friday, and the S&P 1.2 percent. The Nasdaq lost 1.3 percent.

The S&P and the Dow both are down 7 percent since they hit their highs for the year on April 29. However, the Dow is still up 4 percent for the year, and the S&P is up 1.8 percent. At the end of June last year, the Dow was down 6.3 percent and the S&P 7.6 percent. The Dow finished the year up 14 percent, the S&P up 12.8 percent.

Europe's debt problems have weighed on global markets in recent weeks, with major indices reacting daily to the news about Greece's progress toward a second bailout loan package. If Greece defaults, the fear is, investors will lose faith in the financial strength of other countries that have borrowed heavily or hold billions in Greek debt. That could lead to a credit crunch -- when banks virtually stopped lending to one another -- similar to what sparked the broader financial crisis after the investment bank Lehman Brothers collapsed in 2008.

Amazon.com Inc. rose 4.5 percent, the top-preforming company in the S&P 500 index. Morgan Stanley analysts said the online retailer should benefit from expanding international sales

More than two stocks rose for every one that fell on the New York Stock Exchange. Consolidated trading volume was 3.3 billion shares, lighter than average.


----------



## bigdog

Re: NYSE Dow Jones finished today at: 
Source: http://finance.yahoo.com

Maybe the global economy isn't in such bad shape after all.

After weeks of worries about the economy pulled stocks down, indexes have risen sharply for two days in a row.

The Dow Jones industrial average rose more than 140 points Tuesday, thanks in part to signs that concerns of a global slowdown may be overblown.

Quarterly results from Nike Inc. bested analysts' expectations and sent its stock up 10 percent. That helped lead to a rally in stocks of clothing stores, restaurants and jewelers. Such companies tend to do well when consumers are less worried about things like high gas prices and are willing to spend on themselves.

Other industries that do well during periods of economic expansion led the stock market higher. Caterpillar Inc., one of the 30 stocks that make up the Dow, gained the most, rising 3 percent. Industrials gained 1.5 percent overall. Consumer discretionary companies gained 1.9 percent.

Both sectors are still well below their highs for the year. Industrials and consumer companies have lost 5.8 percent and 3.6 percent, respectively, since peaking on April 29.

The Dow gained 145.13 points, or 1.2 percent, to 12,188.69. The Standard & Poor's 500 index rose 16.57, or 1.3 percent, to 1,296.68. The Nasdaq composite index added 41.03, or 1.5 percent, to 2,729.31. All three indexes are down more than 3 percent for the month.

*The NYSE DOW NYSE DOW closed HIGHER  +145.13 points +1.21%  on Tuesday June 28*
Sym .......Last .......Change..........
Dow 12,188.69 +145.13 +1.21% 
Nasdaq 2,729.31 +41.03 +1.53% 
S&P 500 1,296.67 +16.57 +1.29% 
30-yr Bond 4.3330% +0.0510 

NYSE Volume 3,681,501,250  (prior 3,602,571,750)
Nasdaq Volume 1,706,669,125  (prior 1,729,619,875)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,766.88 +44.54 +0.78% 
DAX 7,170.43 +62.53 +0.88% 
CAC 40 3,851.89 +55.34 +1.46% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,523.20 +9.40 +0.21% 
Shanghai Comp 2,759.97 +1.74 +0.06% 
Taiwan We... 8,478.86 -21.30 -0.25% 
Nikkei 225 9,648.98 +70.67 +0.74% 
Hang Seng 22,061.78 +20.01 +0.09% 
Straits Times 3,050.79 +2.51 +0.08% 

http://finance.yahoo.com/news/Strong-Nike-earnings-help-apf-141449013.html?x=0

*Strong Nike earnings help lead stocks higher

Higher earnings from Nike and the first rise in home prices in 8 months lift stocks *

Francesca Levy and David K. Randall, AP Business Writer, On Tuesday June 28, 2011, 4:57 pm EDT 

NEW YORK (AP) -- Maybe the global economy isn't in such bad shape after all.

After weeks of worries about the economy pulled stocks down, indexes have risen sharply for two days in a row.

The Dow Jones industrial average rose more than 140 points Tuesday, thanks in part to signs that concerns of a global slowdown may be overblown.

Quarterly results from Nike Inc. bested analysts' expectations and sent its stock up 10 percent. That helped lead to a rally in stocks of clothing stores, restaurants and jewelers. Such companies tend to do well when consumers are less worried about things like high gas prices and are willing to spend on themselves.

Other industries that do well during periods of economic expansion led the stock market higher. Caterpillar Inc., one of the 30 stocks that make up the Dow, gained the most, rising 3 percent. Industrials gained 1.5 percent overall. Consumer discretionary companies gained 1.9 percent.

Both sectors are still well below their highs for the year. Industrials and consumer companies have lost 5.8 percent and 3.6 percent, respectively, since peaking on April 29.

The Dow gained 145.13 points, or 1.2 percent, to 12,188.69. The Standard & Poor's 500 index rose 16.57, or 1.3 percent, to 1,296.68. The Nasdaq composite index added 41.03, or 1.5 percent, to 2,729.31. All three indexes are down more than 3 percent for the month.

Signs that the housing market is improving helped lift Home Depot Inc. It's sales benefit when consumers spend money on home improvement. Home Depot gained 2.4 percent following a report that home prices rose in April in 13 of the 20 cities tracked by the Standard & Poor's/Case-Shiller index. The index rose for the first time in eight months thanks to an annual push to buy homes in the spring.

Housing usually leads the economy out of recessions. But that hasn't been the case with the current recovery, which began in June 2009. The long slump in the housing market has been a drag on the U.S. economic recovery.

A decline in U.S. consumer confidence to a seven-month low, largely because of worries about jobs, did not slow down the gains in stocks.

Signs that the Greece may be making progress in its debt crisis also boosted markets. Greek lawmakers are debating austerity measures that must be passed to secure the next installment of emergency loans from international lenders. On Monday French banks agreed to accept slower repayment on Greek debts, another key step in avoiding a Greek debt default.

Among U.S. companies, Accenture rose 3.2 percent after S&P announced that the company would be added to its S&P 500 index. And tobacco company Altria Group fell 1.5 percent after the Food and Drug Administration announced it is reviewing research to determine the public health impact of menthol cigarettes.

Government bond prices fell as investors put a greater value on riskier assets like stocks. The yield on the benchmark 10-year Treasury rose to 3.03 percent from 2.93 percent Monday. Bond yields rise when prices fall. Bond yields fell to their lowest level of the year last week due to concerns that Greece's debt problems would spread to other European countries.

Four stocks rose for every one that fell on the New York Stock Exchange. Volume was relatively light at 3.2 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks closed higher for the third day in a row Wednesday after Greece cleared a hurdle toward getting more emergency loans. Financial stocks rose after Bank of America reached a settlement with investors over failed mortgage securities.

Greek lawmakers passed an austerity bill that brought the country closer to getting a financial backstop it needs to avoid defaulting on its debt. A default by Greece would shock global markets and freeze lending to other heavily indebted European countries.

The $17 billion relief package from international lenders does not eliminate the possibility that Greece will default, but it does buy Greece and other European countries more time to repair their budgets.

"The hope is that through the passage of time and slow improvement of finances, markets will become a little more forgiving," said Wasif Latif, a vice president at USAA Investment Management.

The Dow Jones industrial average rose 72.73 points, or 0.6 percent, to close at 12,261.42 Wednesday. The Standard & Poor's 500 index rose 10.74, or 0.8 percent, to 1,307.41. The Nasdaq composite rose 11.18, or 0.4 percent, to 2,740.49.

*The NYSE DOW NYSE DOW closed HIGHER +72.73 points +0.60%  on Wednesday June 29*
Sym .......Last .......Change..........
Dow 12,261.42 +72.73 +0.60% 
Nasdaq 2,740.49 +11.18 +0.41% 
S&P 500 1,307.41 +10.74 +0.83% 
30-yr Bond 4.3710% +0.0380 

NYSE Volume 4,347,503,500   (prior 3,681,501,250)
Nasdaq Volume 1,825,070,875 (prior 1,706,669,125)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,855.95 +89.07 +1.54% 
DAX 7,294.14 +123.71 +1.73% 
CAC 40 3,924.23 +72.34 +1.88% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,579.80 +56.60 +1.25% 
Shanghai Comp 2,728.48 -30.72 -1.11% 
Taiwan We... 8,573.38 +94.52 +1.11% 
Nikkei 225 9,797.26 +148.28 +1.54% 
Hang Seng 22,061.18 -0.60 0.00% 
Straits Times 3,081.69 +30.90 +1.01% 

http://finance.yahoo.com/news/Stock...3.html?x=0&sec=topStories&pos=7&asset=&ccode=

*Stocks rise as Greece nears debt solution

Stocks rise for a 3rd day as Greece passes key austerity bill; BofA settles bad loan claims *

Francesca Levy and Matthew Craft, AP Business Writers, On Wednesday June 29, 2011, 4:37 pm EDT 

NEW YORK (AP) -- Stocks closed higher for the third day in a row Wednesday after Greece cleared a hurdle toward getting more emergency loans. Financial stocks rose after Bank of America reached a settlement with investors over failed mortgage securities.

Greek lawmakers passed an austerity bill that brought the country closer to getting a financial backstop it needs to avoid defaulting on its debt. A default by Greece would shock global markets and freeze lending to other heavily indebted European countries.

The $17 billion relief package from international lenders does not eliminate the possibility that Greece will default, but it does buy Greece and other European countries more time to repair their budgets.

"The hope is that through the passage of time and slow improvement of finances, markets will become a little more forgiving," said Wasif Latif, a vice president at USAA Investment Management.

The Dow Jones industrial average rose 72.73 points, or 0.6 percent, to close at 12,261.42 Wednesday. The Standard & Poor's 500 index rose 10.74, or 0.8 percent, to 1,307.41. The Nasdaq composite rose 11.18, or 0.4 percent, to 2,740.49.

Financial companies in the S&P 500 rose 2.1 percent after Bank of America Corp. reached an $8.5 billion settlement with investors over claims it sold them bad loans. The investors said Bank of America violated agreements with them by selling them low-quality mortgage-backed securities that lost value when the housing market collapsed. Much of the losses stem from BofA's 2008 purchase of the troubled lender Countrywide.

Bank stocks also got a lift from news that the Federal Reserve plans to limit the fees banks can charge retailers for swiping debit cards to 21 cents. That's higher than the 12 cents the Fed first proposed.

Relief that Bank of America settled with investors sent the lender's stock up 3 percent. Bank of America is still down 24 percent over the past year, far more than any other major U.S. bank.

It was the third and largest settlement Bank of America has struck this year over mortgage investments. The bank reached a $2.6 billion settlement in January over home loans sold to the government-backed mortgage agencies Fannie Mae and Freddie Mac. In April, the company agreed to pay up to $1.6 billion to an insurer that demanded the bank repurchase faulty mortgages it had been sold.

Energy stocks rose more than 1 percent after oil prices rose above $95 on a report that U.S. crude supplies fell last week. The drop suggests demand for oil might be rising.

Monsanto Co. gained 5 percent after the chemicals company reported earnings that beat analysts' expectations. BJ's Wholesale Club rose 4.6 percent after announcing that two private equity firms would buy the warehouse chain.

More than two stocks rose for every one that fell on the New York Stock Exchange. Consolidated trading volume was an average 3.9 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

http://finance.yahoo.com/news/Stock...3.html?x=0&sec=topStories&pos=1&asset=&ccode=

Stocks are headed for a correction. No, stocks are rallying. Wait, stocks are down again. Or up -- a lot.

For investors, June was one long seesaw ride that began with a deep plunge on the first day of the month. Six days of declines were followed by a week of give and take and then four days of gains. The month ended with strong earnings from a consumer bellwether and signs that a European debt crisis could be averted. That led to a 4-day advance in the three major stock indexes.

The Dow Jones industrial average rose 480 points, or 4 percent, the last four days of the month and the Standard & Poor's 500 index is on track for its best weekly return for since July 2010.

That strong ending didn't make June a winner. Stocks were down about 2 percent for the month, the second straight month that the market finished lower. Only the Dow Jones industrial average eked out a gain, of 0.8 percent, for the quarter.

===============================================================
Four days, 480 points.

That's how the Dow Jones industrial average closed the final four days of June. The Dow added more than 150 points on Thursday alone after Greece cleared the final hurdle needed to receive its next installment of emergency loans. A pickup in manufacturing around Chicago also pushed indexes higher.

The weeklong rally began Monday when Nike Inc. reported quarterly results that showed that consumers were spending more than expected. The stock market's gains put it on track for the best week since July of last year.

It was a stunning reversal from the beginning of the month, when the Dow dropped nearly 280 points in one day. The first day of June, reports showed that auto sales fell sharply in May and that private companies were hiring far fewer people than expected. The late surge was not enough to turn the broader stock market positive for the month, but it brought the Dow up 0.8 percent for the quarter. The Standard and Poor's 500 index and Nasdaq composite each lost about 0.3 percent for the month.

Thursday's gains came after Greek lawmakers passed a cost-cutting bill that had to be approved before international lenders would release $17 billion in rescue funds to Greece. The country needs the money to avoid defaulting on its debt. A default by Greece could disrupt financial markets and lead to a widespread European financial crisis.

*The NYSE DOW NYSE DOW closed HIGHER +152.92 points +1.25% on Thursday June 30*
Sym .......Last .......Change..........
Dow 12,414.34 +152.92 +1.25% 
Nasdaq 2,773.52 +33.03 +1.21% 
S&P 500 1,320.64 +13.23 +1.01% 
30-yr Bond 4.3820% +0.0110 

NYSE Volume 4,260,375,000  (prior 4,347,503,500)
Nasdaq Volume 1,884,700,625  (prior 1,825,070,875)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,945.71 +89.76 +1.53% 
DAX 7,376.24 +82.10 +1.13% 
CAC 40 3,982.21 +57.98 +1.48%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,659.80 +80.00 +1.75% 
Shanghai Comp 2,762.08  +33.59  +1.23% 
Taiwan We... 8,652.59 +79.21 +0.92% 
Nikkei 225 9,816.09 +18.83 +0.19% 
Hang Seng 22,398.10 +336.92 +1.53% 
Straits Times 3,121.57 +41.83 +1.36% 

http://finance.yahoo.com/news/Stock...9.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks rise as Greece clears final bailout hurdle

Stocks jump after Greece clears way for rescue loans; Chicago area manufacturing picks up *

David K. Randall and Francesca Levy, AP Business Writers, On Thursday June 30, 2011, 5:21 pm EDT 

NEW YORK (AP) -- Four days, 480 points.

That's how the Dow Jones industrial average closed the final four days of June. The Dow added more than 150 points on Thursday alone after Greece cleared the final hurdle needed to receive its next installment of emergency loans. A pickup in manufacturing around Chicago also pushed indexes higher.

The weeklong rally began Monday when Nike Inc. reported quarterly results that showed that consumers were spending more than expected. The stock market's gains put it on track for the best week since July of last year.

It was a stunning reversal from the beginning of the month, when the Dow dropped nearly 280 points in one day. The first day of June, reports showed that auto sales fell sharply in May and that private companies were hiring far fewer people than expected. The late surge was not enough to turn the broader stock market positive for the month, but it brought the Dow up 0.8 percent for the quarter. The Standard and Poor's 500 index and Nasdaq composite each lost about 0.3 percent for the month.

Thursday's gains came after Greek lawmakers passed a cost-cutting bill that had to be approved before international lenders would release $17 billion in rescue funds to Greece. The country needs the money to avoid defaulting on its debt. A default by Greece could disrupt financial markets and lead to a widespread European financial crisis.

Traders were also reassured by encouraging signals about the U.S. economy. A trade group reported that manufacturing in Chicago sped up unexpectedly in June. Analysts had forecast a decline. Earlier in the week, Nike Inc. reported earnings that were better than analysts had predicted. That led many investors to believe that high gas prices haven't stopped consumers from spending on non-necessities.

The Dow rose 152.92 points, or 1.3 percent, to 12,414.34. The S&P 500 added 13.23, or 1 percent, to 1,320.64. The Nasdaq composite gained 33.03, or 1.2 percent, to 2,773.52.

Companies that typically benefit from global expansion led the Dow. Intel Corp., Caterpillar Inc., and Hewlett-Packard Co. each gained more than 2.4 percent.

Stocks are still below the 2011 highs they reached in late April, when a series of weak economic reports indicated that the U.S. economy was slowing down. Since then investors have been debating whether the slowdown would be a short-term blip or the beginning of a long stall in the economic recovery.

"We have been in the camp that says it's temporary," said Brad Sorensen, a market analyst at Schwab. Sorensen says the pickup in Chicago manufacturing was the latest proof that the short-term slowdown view is correct

The manufacturing report, along with the government's formal end to its bond buying stimulus program known as QE2, sent bond prices lower as investors put less money into safer assets. The yield on the benchmark 10-year Treasury fell to 3.16 percent from 3.11 percent late Wednesday. Bond yields rise when prices fall.

Among U.S. companies, metals manufacturer Worthington Industries Inc. jumped nearly 10 percent after the company raised its quarterly dividend and said it would buy back up to 10 million shares of its own stock. Callaway Golf Co. fell 1.7 percent after the company shook up its leadership, announced job cuts and said it expects to have weak results in the second quarter. And fertilizer maker CF Industries Holdings Inc. fell 5.1 percent on news that farmers planted more corn in spring, which may weigh on prices and reduce farmers' income.

Three stocks rose for every one that fell on the New York Stock Exchange. Volume was average at 3.8 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

So much for that soft patch.

A rebound in U.S. manufacturing surprised investors Friday, sending the Dow Jones industrial average up nearly 170 points. The Dow ended up 648 points, or 5.4 percent, for the week. It was the index's best week in two years.

The rally started Monday after Nike Inc. reported strong quarterly results. Revenue that beat analyst predictions indicated that shoppers are still splurging on pricier sneakers and sportswear, despite the recent run-up in gas prices. Thursday, Greece cleared its final hurdle before it receives its next round of loans to avoid default on its debt. The same day, a report showed that manufacturing in the Chicago region had picked up unexpectedly.

Friday's Institute for Supply Management report showed that manufacturing across the country had expanded, reinforcing the growing perception that the slowdown was temporary. Federal Reserve Chairman Ben Bernanke and a number of prominent economists have argued that the economy will pick up again once the effects of the Japan disaster waned and high gas prices receded.

It's quite a turnaround from May and early June. Many economists and analysts began lowering their estimates for growth in May after a string of negative reports on manufacturing, consumer spending and hiring by private companies. A shortage of computer chips and auto parts from Japan, higher gas prices and severe weather in the South all contributed to what appeared to be a slowdown in the economic recovery. Stocks had lost most of their gains for the year by mid-June

*The NYSE DOW NYSE DOW closed HIGHER +168.43 +1.36%  on Friday July 1*
Sym .......Last .......Change..........
Dow 12,582.77 +168.43 +1.36% 
Nasdaq 2,816.03 +42.51 +1.53% 
S&P 500 1,339.67 +19.03 +1.44% 
30-yr Bond 4.4020% +0.0200 

NYSE Volume 3,796,932,000 (prior  4,260,375,000)
Nasdaq Volume 1,685,064,500  (prior 1,884,700,625)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,989.76 +44.05 +0.74% 
DAX 7,419.44 +43.20 +0.59% 
CAC 40 4,007.35 +25.14 +0.63% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,647.90 -11.90 -0.26% 
Shanghai Comp 2,759.36 -2.71 -0.10% 
Taiwan We... 8,739.82 +87.23 +1.01% 
Nikkei 225 9,868.07 +51.98 +0.53% 
Hang Seng 22,398.10 +336.92 +1.53% 
Straits Times 3,139.01 +18.57 +0.60% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks close huge week with rally; Dow up 168

Stock market has its best week in 2 years; Dow gains 168*

David K. Randall, AP Business Writer, On Friday July 1, 2011, 5:42 pm 
NEW YORK (AP) -- So much for that soft patch.

A rebound in U.S. manufacturing surprised investors Friday, sending the Dow Jones industrial average up nearly 170 points. The Dow ended up 648 points, or 5.4 percent, for the week. It was the index's best week in two years.

The rally started Monday after Nike Inc. reported strong quarterly results. Revenue that beat analyst predictions indicated that shoppers are still splurging on pricier sneakers and sportswear, despite the recent run-up in gas prices. Thursday, Greece cleared its final hurdle before it receives its next round of loans to avoid default on its debt. The same day, a report showed that manufacturing in the Chicago region had picked up unexpectedly.

Friday's Institute for Supply Management report showed that manufacturing across the country had expanded, reinforcing the growing perception that the slowdown was temporary. Federal Reserve Chairman Ben Bernanke and a number of prominent economists have argued that the economy will pick up again once the effects of the Japan disaster waned and high gas prices receded.

It's quite a turnaround from May and early June. Many economists and analysts began lowering their estimates for growth in May after a string of negative reports on manufacturing, consumer spending and hiring by private companies. A shortage of computer chips and auto parts from Japan, higher gas prices and severe weather in the South all contributed to what appeared to be a slowdown in the economic recovery. Stocks had lost most of their gains for the year by mid-June.

Todd Salamone, an investment strategist at Schaffer's Investment Research said the recent surge in stocks represents an "unwinding of the tremendous negativity that built up over the past few weeks."

The Dow rose 168.43 points, or 1.4 percent, to 12,582.77, on Friday. The Standard and Poor's 500 index gained 18.94, or 1.4 percent, to 1,339.67. The Nasdaq composite added 42.51, or 1.5 percent, to 2,816.03.

All 30 stocks in the index rose Friday. Companies that do well during times of economic expansion led the index. Alcoa Inc. and Caterpillar Inc. each gained more than 2 percent.

It was the fourth time this week that the Dow gained more than 100 points. The Dow's 648 point gain for the week is its largest since the bull market began in March 2009. It is up 8.7 percent for the year, about 2 percent below its April high. The S&P is up 6.5 percent for the year. It had been up as high as 8.4 percent.

A rebound in automobile sales also helped send stock indexes higher on Friday. General Motors and Ford Inc. both said that their sales rose 10 percent over this time last year. Car companies have been forced to slow the production of some models because of the shortage of parts following the earthquake and tsunami in Japan. Honda and Toyota said recently that their North American production is beginning to return to normal. That has helped push the national manufacturing index higher. The ISM index rose to 55.3 in June from 53.5 the month before based on a scale in which a number above 50 indicates growth.

Among U.S. companies, the for-profit education company Apollo Group rose 6 percent despite a steep drop in student enrollment. The company's profits fell, but not as much as analysts had predicted. Darden Restaurants, the parent company of Red Lobster and the Olive Garden, also rose 6 percent after reporting that sales rose in all of its divisions. And Eastman Kodak lost 14 percent after a judge threw out some of its claims in a trade dispute with Apple Inc. and Research in Motion Ltd.

Whether the current rally continues will hinge on next Friday's unemployment report and the next round of corporate earnings results. Alcoa Inc. will report on July 11th. A rise in profits for bellwether companies such as Alcoa, Caterpillar and Apple Inc. will likely mean that companies have weathered last quarter's sky high commodity prices and pullback in consumer spending.

5155


----------



## bigdog

Source: http://finance.yahoo.com

*The NYSE DOW was closed for Independence Day Monday July 4 Holiday*
Sym .......Last .......Change..........
Dow 12,582.77 closed for July 4 holiday  
Nasdaq 2,816.03 closed for July 4 holiday  
S&P 500 1,339.67 closed for July 4 holiday   
30-yr Bond 4.4020% closed for July 4 holiday 

NYSE Volume 3,796,932,000 (prior 4,260,375,000)
Nasdaq Volume 1,685,064,500 (prior 1,884,700,625)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 6,017.54 +27.78 +0.46% 
DAX 7,442.96 +23.52 +0.32% 
CAC 40 4,003.11 -4.24 -0.11% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,670.40 +22.50 +0.48% 
Shanghai Comp 2,813.08 +0.26 +0.01%   
Taiwan We... 8,774.72 +34.90 +0.40% 
Nikkei 225 9,965.09 +97.02 +0.98% 
Hang Seng 22,770.47 +372.37 +1.66% 
Straits Times 3,153.44 +14.43 +0.46%


----------



## bigdog

Source: http://finance.yahoo.com

The first week of July is off to a much slower start than the last week of June, when stocks had their biggest gains in two years.

Major indexes were mixed for much of the day Tuesday but dipped in afternoon trading after Moody's downgraded Portugal's debt to "junk." The credit ratings agency cited concerns that Portugal will not be able to meet targets to reduce its deficit due to the "formidable challenges" the country is facing in cutting spending.

The Dow Jones industrial average fell 12.90, or 0.1 percent, to close at 12,569.87. The Dow had risen as many as 19 points in morning trading after the Commerce Department reported an increase in orders for manufactured goods.

The Standard & Poor's 500 fell 1.79, or 0.1 percent, to 1,337.88. The Nasdaq composite index rose 9.74, or 0.3 percent, to 2,825.77.

Bond prices rose, sending their yields lower, as investors sought out the relative safety of Treasurys. The yield on the 10-year Treasury note fell to 3.12 percent from 3.19 percent late Friday.

Investors have been worried that Europe's debt problems could slow the global economy and cause a crisis for European banks. "The European debt crisis is going to be with us for a while," said David Kelly, chief market strategist at J.P. Morgan Funds. "There still is a very big issue out there."

*The NYSE DOW NYSE DOW closed LOWER +168.43 +1.36% on Tuesday July 5*
Sym .......Last .......Change..........
Dow 12,569.87 -12.90 -0.10% 
Nasdaq 2,825.77 +9.74 +0.35% 
S&P 500 1,337.88 -1.79 -0.13% 
30-yr Bond 4.3900% -0.0120 

NYSE Volume 3,729,751,000  (prior 3,796,932,000)
Nasdaq Volume 1,572,379,375  (prior 1,685,064,500)


*Europe*
Symbol... ......Last .....Change.......
FTSE 100 6,024.03 +6.49 +0.11% 
DAX 7,439.44 -3.52 -0.05% 
CAC 40 3,978.83 -24.28 -0.61% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,656.90 -13.50 -0.29% 
Shanghai Comp 2,816.35 +3.54 +0.13% 
Taiwan We... 8,784.44 +9.72 +0.11% 
Nikkei 225 9,972.46 +7.37 +0.07% 
Hang Seng 22,747.95 -22.52 -0.10% 
Straits Times 3,129.69 -23.75 -0.75% 

http://finance.yahoo.com/news/Rally-stalls-as-Moodys-cuts-apf-2019483669.html?x=0

*Rally stalls as Moody's cuts Portugal debt rating

Stocks falter after Moody's cuts rating on Portugal's government debt to junk status *

Chip Cutter, AP Business Writer, On Tuesday July 5, 2011, 5:11 pm EDT 

NEW YORK (AP) -- The first week of July is off to a much slower start than the last week of June, when stocks had their biggest gains in two years.

Major indexes were mixed for much of the day Tuesday but dipped in afternoon trading after Moody's downgraded Portugal's debt to "junk." The credit ratings agency cited concerns that Portugal will not be able to meet targets to reduce its deficit due to the "formidable challenges" the country is facing in cutting spending.

The Dow Jones industrial average fell 12.90, or 0.1 percent, to close at 12,569.87. The Dow had risen as many as 19 points in morning trading after the Commerce Department reported an increase in orders for manufactured goods.

The Standard & Poor's 500 fell 1.79, or 0.1 percent, to 1,337.88. The Nasdaq composite index rose 9.74, or 0.3 percent, to 2,825.77.

Bond prices rose, sending their yields lower, as investors sought out the relative safety of Treasurys. The yield on the 10-year Treasury note fell to 3.12 percent from 3.19 percent late Friday.

Investors have been worried that Europe's debt problems could slow the global economy and cause a crisis for European banks. "The European debt crisis is going to be with us for a while," said David Kelly, chief market strategist at J.P. Morgan Funds. "There still is a very big issue out there."

Trading volume was light as many traders took vacations. U.S. markets were closed Monday for the July 4th holiday. Many investors are looking ahead to next week, when aluminum maker Alcoa Inc. becomes the first major U.S. company to report financial results.

Last week the Dow rose 648 points, its best week in two years, after Nike reported strong earnings and Greece cleared its final hurdle before receiving another round of loans. Automakers also reported that their sales rose 7 percent in June compared with the same month a year ago.

The gains erased nearly six weeks of losses. Prior to last week stocks had been falling since late April because of concerns about the debt crisis in Europe, weak home sales in the U.S. and slowing manufacturing. By mid-June, stocks had given up most of their gains for the year.

With last week's rally, the Dow is now down just 1.8 percent from April 29, when it reached a three-year high. The Dow is up 8.6 percent for the year. The S&P 500 index is up 6.4 percent and the Nasdaq composite is up 6.5 percent.

Analysts are optimistic about the corporate earnings reports that will start to come in next week. Earnings from companies in the S&P 500 index are expected to rise 14 percent from the same period a year ago, according to FactSet. Revenue is expected to rise 11 percent.

"There hasn't yet really been a reason to get concerned about corporate America," said Randy Warren, chief investment officer of Warren Financial Service. "It's the rest of the America that's struggling."

Even while companies have been reporting higher profits, unemployment has remained stubbornly high since the recession officially ended in June 2009. The Labor Department will report the latest figures on unemployment and payrolls on Friday, and analysts expect to hear more bad news. They forecast that the unemployment rate will remain unchanged from May at 9.1 percent. They also expect that employers added only 90,000 jobs last month, below the 100,000 threshold that economists say is needed to prevent the unemployment rate from increasing.

Several stocks rose sharply on deals and other news. Immucor Inc. rose 30 percent after the maker of blood-testing equipment agreed to be bought by private-investment firm TPG Capital in a deal worth $1.97 billion.

Southern Union Co. rose 4.2 percent after Energy Transfer Equity LP said it would pay $5.1 billion for the pipeline company. The deal trumped a $4.9 billion bid made in late June by rival Williams Cos.

Netflix Inc. rose 8.1 percent, the most of any company in the Standard & Poor's 500 index, after announcing that it would expand its online video streaming service to 43 countries in Latin America and the Caribbean.

Chevron Corp. rose 1 percent, the most of any stock in the Dow average, after crude oil rose $1.95 to $96.89 a barrel.

The number of stocks that rose was about the same as those that fell on the New York Stock Exchange. Trading volume was very light at 3.4 billion shares, below the average of 4.2 billion over the past 200 days.


----------



## bigdog

Source: http://finance.yahoo.com

Stock indexes managed slight gains Wednesday as investors shrugged off slower growth in the U.S. service sector.

The Institute for Supply Management reported Wednesday that business growth slowed at U.S. service providers in June. Financial companies and health care providers reported the weakest results. On the positive side, June marked the 19th consecutive month of growth at service companies, which employ the majority of American workers.

U.S. stocks opened mixed after a broad sell-off in Europe and another interest rate hike in China.

Major banks fell sharply after Moody's lowered Portugal's credit rating to "junk" status late Tuesday. That raised fresh concerns about the strength of the European financial system and investment banks' exposure to possible bond defaults. Bank of America Corp. lost 2.4 percent. JPMorgan Chase dropped 1.2 percent.

Some investors were surprised that stock indexes held up after the weak economic report. Dorsey Farr, a co-founder of Atlanta investment advisory firm French Wolf & Farr, said attractive stock prices in technology and pharmaceutical companies helped the market rebound.

The Standard & Poor's 500 index rose 1.34 to close at 1,339.22. Rupert Murdoch's News Corp. was among the index's biggest losers, dropping 3.6 percent, as a phone-hacking scandal engulfed one of the media giant's tabloids. Some British legislators called on regulators to block News Corp. from taking over British Sky Broadcasting.

*The NYSE DOW NYSE DOW closed HIGHER  +56.15 points +0.45%  on Wednesday July 6*
Sym .......Last .......Change..........
Dow 12,626.02 +56.15 +0.45% 
Nasdaq 2,834.02 +8.25 +0.29% 
S&P 500 1,339.22 +1.34 +0.10% 
30-yr Bond 4.3540% -0.0360 

NYSE Volume 3,663,360,000  (prior 3,729,751,000)
Nasdaq Volume 1,658,028,000   (prior 1,572,379,375)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 6,002.92 -21.11 -0.35% 
DAX 7,431.19 -8.25 -0.11% 
CAC 40 3,961.34 -17.49 -0.44% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,663.60 +6.70 +0.14% 
Shanghai Comp 2,810.48 -5.88 -0.21% 
Taiwan We... 8,824.44 +40.00 +0.46% 
Nikkei 225 10,082.48 +110.02 +1.10%  
Hang Seng 22,517.55 -230.40 -1.01%  
Straits Times 3,114.71 -14.98 -0.48% 

http://finance.yahoo.com/news/Stock...9.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stock market shrugs off weak service sector report

Stock indexes edge higher, shrugging off weakness in US service sector and Portugal downgrade *

David K. Randall and Matthew Craft, AP Business Writers, On Wednesday July 6, 2011, 4:50 pm EDT 

NEW YORK (AP) -- Stock indexes managed slight gains Wednesday as investors shrugged off slower growth in the U.S. service sector.

The Institute for Supply Management reported Wednesday that business growth slowed at U.S. service providers in June. Financial companies and health care providers reported the weakest results. On the positive side, June marked the 19th consecutive month of growth at service companies, which employ the majority of American workers.

U.S. stocks opened mixed after a broad sell-off in Europe and another interest rate hike in China.

Major banks fell sharply after Moody's lowered Portugal's credit rating to "junk" status late Tuesday. That raised fresh concerns about the strength of the European financial system and investment banks' exposure to possible bond defaults. Bank of America Corp. lost 2.4 percent. JPMorgan Chase dropped 1.2 percent.

Some investors were surprised that stock indexes held up after the weak economic report. Dorsey Farr, a co-founder of Atlanta investment advisory firm French Wolf & Farr, said attractive stock prices in technology and pharmaceutical companies helped the market rebound.

The Standard & Poor's 500 index rose 1.34 to close at 1,339.22. Rupert Murdoch's News Corp. was among the index's biggest losers, dropping 3.6 percent, as a phone-hacking scandal engulfed one of the media giant's tabloids. Some British legislators called on regulators to block News Corp. from taking over British Sky Broadcasting.

The Dow Jones industrial average rose 56.15 points, or 0.4 percent, to close at 12,626.02. Caterpillar Inc. rose 1.5 percent, the most of any stock in the average, followed by Intel Corp. The Nasdaq added 8.25 points, or 0.3 percent, to 2,834.02.

China raised a key interest rate for the third time this year in an attempt to curb inflation. Many U.S. companies have focused on the country as a source of profit growth and are hoping that interest rate hikes there will not lead to an economic slump.

Among U.S. companies, General Motors gained 1 percent after analysts upgraded the stock. Walgreen Co. rose 1.5 percent after reporting strong June sales.

Business software maker Compuware Corp. rose 5.5 percent, among the strongest in the S&P 500. Compuware bought another software maker, dynaTrace, for $256 million and said it expects the deal to more than double sales in the next year.

No major corporate earnings reports are scheduled for this week. Aluminum maker Alcoa Inc. starts the earnings reporting season next Monday.

The Dow climbed 648 points last week, its best week in two years. The gains came as Greece's parliament approved budget-cutting measures needed before it receives another round of loans. Nike also reported strong earnings and automakers said their sales rose 7 percent in June compared with the same month a year ago.

The gains erased nearly six weeks of losses. The Dow is now up 9.1 percent for the year. The S&P 500 index is up 6.5 percent and the Nasdaq composite is up 6.8 percent.

Trading has been light during the holiday-shortened week. Markets were closed in the U.S. on Monday for the July 4th holiday. Many investors are looking ahead to Friday's employment report. Economists expect that the unemployment rate was 9.1 percent in June, unchanged from the month before.

Four stocks rose for every three that fell on the New York Exchange. Trading volume was below average at 3.3 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

A rebound in retail sales and strong jobs reports pushed stocks near their highest levels of the year.

U.S. retailers had their best June sales results since 1999 as shoppers were lured into stores by warm weather and deep discounts. Kohl's Corp., Target Corp., and Urban Outfitters Inc. each gained more than 6 percent.

Investors have been concerned that high gas prices would constrain consumer spending as people looked for ways to save money. The higher sales figures reassured markets that consumers were becoming more willing to spend again.

"The closest thing to an unadulterated barometer of our progress is same-store sales," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. Same-store sales for the 28 retailers who reported them on Thursday were up 6.9 percent. "Everything is tied to it: Sales drives profits, profits drive hiring and hiring drives sales. It's a neat, virtuous circle."

An improving job market likely helped. The number of people who made first-time claims for unemployment benefits dropped last week to a seven-week low of 418,000, the government reported. That's a sign that employers are laying off fewer workers.

Separately, payroll processor Automatic Data Processing said companies added 157,000 employees in June. The bulk of the hiring came from small businesses. The tally is more than double the number economists had forecast and far more than the 36,000 added the previous month. The report isn't always an accurate predictor of the Labor Department's monthly unemployment report, but has been more of a bellwether in recent months. The Labor Department's report will be released Friday.

The Dow Jones industrial average gained 93.47 points, or 0.7 percent, to close at 12,719.49. The Standard and Poor's 500 index added 14 points, or 1.1 percent, to 1,353.22. The tech-focused Nasdaq composite closed at 2,872.66 after gaining 1.4 percent. It briefly traded at a new high for the year of 2,877.

*The NYSE DOW NYSE DOW closed HIGHER +93.47 points +0.74% on Thursday July 7*
Sym .......Last .......Change..........
Dow 12,719.49 +93.47 +0.74% 
Nasdaq 2,872.66 +38.64 +1.36% 
S&P 500 1,353.22 +14.00 +1.05% 
30-yr Bond 4.3700% +0.0160 

NYSE Volume 4,077,608,750  (prior 3,663,360,000)
Nasdaq Volume 1,892,126,125  (prior 1,658,028,000)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 6,054.55 +51.63 +0.86%  
DAX 7,471.44 +40.25 +0.54% 
CAC 40 3,979.96 +18.62 +0.47% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,666.10 +2.50 +0.05%  
Shanghai Comp 2,794.27 -16.21 -0.58% 
Taiwan We... 8,773.42 -51.02 -0.58% 
Nikkei 225 10,071.14 -11.34 -0.11% 
Hang Seng 22,530.18 +12.63 +0.06% 
Straits Times 3,125.87 +11.16 +0.36% 

http://au.finance.yahoo.com/news/Retail-sales-and-jobs-reports-apf-4290001233.html?x=0&.v=7

*Retail sales and jobs reports send stocks higher

Stocks rise after unemployment claims dip and private hiring picks up; retailers surge *

Matthew Craft and David K. Randall, AP Business Writers, On Friday 8 July 2011, 7:05 EST 

NEW YORK (AP) -- A rebound in retail sales and strong jobs reports pushed stocks near their highest levels of the year.

U.S. retailers had their best June sales results since 1999 as shoppers were lured into stores by warm weather and deep discounts. Kohl's Corp., Target Corp., and Urban Outfitters Inc. each gained more than 6 percent.

Investors have been concerned that high gas prices would constrain consumer spending as people looked for ways to save money. The higher sales figures reassured markets that consumers were becoming more willing to spend again.

"The closest thing to an unadulterated barometer of our progress is same-store sales," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. Same-store sales for the 28 retailers who reported them on Thursday were up 6.9 percent. "Everything is tied to it: Sales drives profits, profits drive hiring and hiring drives sales. It's a neat, virtuous circle."

An improving job market likely helped. The number of people who made first-time claims for unemployment benefits dropped last week to a seven-week low of 418,000, the government reported. That's a sign that employers are laying off fewer workers.

Separately, payroll processor Automatic Data Processing said companies added 157,000 employees in June. The bulk of the hiring came from small businesses. The tally is more than double the number economists had forecast and far more than the 36,000 added the previous month. The report isn't always an accurate predictor of the Labor Department's monthly unemployment report, but has been more of a bellwether in recent months. The Labor Department's report will be released Friday.

The Dow Jones industrial average gained 93.47 points, or 0.7 percent, to close at 12,719.49. The Standard and Poor's 500 index added 14 points, or 1.1 percent, to 1,353.22. The tech-focused Nasdaq composite closed at 2,872.66 after gaining 1.4 percent. It briefly traded at a new high for the year of 2,877.

The Dow and S&P 500 are close to their 2011 highs, reached on April 29. Then came higher gas prices, a slowdown in manufacturing and job growth and bad weather in the South. That led to concerns that the economic recovery was stalling. At the same time, worries about a debt default by Greece also heightened fears of a European financial crisis. The Dow and S&P had six straight weeks of declines falling as much as 8 percent off their April highs. Just three weeks ago, the S&P index had given up nearly all of its gains for the year.

A rebound in a key manufacturing index and stronger sales figures from Nike Inc. and other companies pushed the index up nearly 6 percent since June 15th. Signs of a deal to help Greece avoid default and allow the country to restructure its debt also calmed financial markets. The Dow and S&P 500 are now up 2.5 percent so far this month. The Dow is up 9.86 percent for the year.

Trading has been light in the stock market this week. Markets were closed in the U.S. on Monday for the July 4th holiday. No major corporate earnings came out this week. Aluminum maker Alcoa Inc. is the first major U.S. company to report second-quarter earnings on Monday.

The Labor Department releases its closely-watched monthly employment report before the market opens Friday. Economists estimate the unemployment rate will remain at 9.1 percent and that employers added only 90,000 jobs last month. But some experts now believe that number could be higher. After the ADP figures were released, economists at Deutsche Bank raised their forecasts for the number of jobs created in June to 175,000 from 100,000.

Four stocks rose for every one that fell on the New York Stock Exchange. Volume was average at 3.6 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow rose 0.6 for the week, the Nasdaq 1.6 percent.

An unexpected drop in hiring put an end to the excitement that had been bubbling up on Wall Street over the past two weeks.

Stock indexes fell sharply Friday, erasing most of the week's gains, after the government reported that U.S. employers created the fewest number of jobs in nine months. The 18,000 net jobs in created in June were a fraction of what many economists expected and dampened hopes that the economy was improving. Private companies added jobs at the slowest pace in more than a year. The unemployment rate edged up to 9.2 percent, its highest level this year.

A broader measure of weakness in the labor market was even worse. Among Americans who want to work, 16.2 percent are either unemployed or unable to find full-time jobs. That was up from 15.8 percent in May.

"There's just a lot more evidence than before that we're in an extended weak patch," said Brian Gendreau, market strategist for Cetera Financial Group. He said private economists will likely reduce their projections for overall economic growth this year.

The Standard and Poor's 500 index fell 9.42 points, or 0.7 percent, to 1,343.80. That eliminated the index's gains from Thursday and left it with a 0.3 percent gain for the week.

The Dow Jones industrial average lost 62.29, or 0.5 percent, to 12,657.20. The Dow, which had been down by as much as 150 points Friday, had only its second down day over the past nine. The Nasdaq composite dropped 12.85, or 0.4 percent, to 2,859.81. It was its first loss in two weeks.

*The NYSE DOW NYSE DOW closed LOWER -62.29 points -0.49%  on Friday July 8*
Sym .......Last .......Change..........
Dow 12,657.20 -62.29 -0.49%  
Nasdaq 2,859.81 -12.85 -0.45%  
S&P 500 1,343.80 -9.42 -0.70%  
30-yr Bond 4.2770% -0.0930 

NYSE Volume 3,600,058,250  (prior  4,077,608,750)
Nasdaq Volume 1,625,804,750  (prior 1,892,126,125) 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,990.58 -63.97 -1.06%  
DAX 7,402.73 -68.71 -0.92%  
CAC 40 3,913.55 -66.41 -1.67% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,716.00 +49.90 +1.07% 
Shanghai Comp 2,797.77 +3.51 +0.13%  
Taiwan We... 8,749.55 -23.87 -0.27% 
Nikkei 225 10,137.73 +66.59 +0.66%  
Hang Seng 22,726.43 +196.25 +0.87%  
Straits Times 3,151.28 +25.41 +0.81% 

http://finance.yahoo.com/news/Stocks-sink-after-dismal-June-apf-2073081885.html?x=0

*Stocks sink after dismal June jobs report

Dow, S&P 500 sink after a dismal jobs report shows slower hiring, rising unemployment rate*

Daniel Wagner and David K. Randall, AP Business Writers, On Friday July 8, 2011, 4:42 pm EDT 
An unexpected drop in hiring put an end to the excitement that had been bubbling up on Wall Street over the past two weeks.

Stock indexes fell sharply Friday, erasing most of the week's gains, after the government reported that U.S. employers created the fewest number of jobs in nine months. The 18,000 net jobs in created in June were a fraction of what many economists expected and dampened hopes that the economy was improving. Private companies added jobs at the slowest pace in more than a year. The unemployment rate edged up to 9.2 percent, its highest level this year.

A broader measure of weakness in the labor market was even worse. Among Americans who want to work, 16.2 percent are either unemployed or unable to find full-time jobs. That was up from 15.8 percent in May.

"There's just a lot more evidence than before that we're in an extended weak patch," said Brian Gendreau, market strategist for Cetera Financial Group. He said private economists will likely reduce their projections for overall economic growth this year.

The Standard and Poor's 500 index fell 9.42 points, or 0.7 percent, to 1,343.80. That eliminated the index's gains from Thursday and left it with a 0.3 percent gain for the week.

The Dow Jones industrial average lost 62.29, or 0.5 percent, to 12,657.20. The Dow, which had been down by as much as 150 points Friday, had only its second down day over the past nine. The Nasdaq composite dropped 12.85, or 0.4 percent, to 2,859.81. It was its first loss in two weeks.

Companies whose business would be most affected by a weakening economy were hit hardest. Bank of America Corp., General Electric Co. and Boeing Co. were among the biggest decliners in the Dow average.

"The chance of a July bounce back in the economy looks pretty slim now," said Jay Tyner, president of Semmax Financial Group in Greensboro, North Carolina.

Expectations for Friday's jobs report were raised Thursday after payroll processor ADP said that private companies added more than 150,000 jobs in June. While the ADP report does not always accurately predict the broader Labor Department report, some investors said that the apparent clashing pictures of the job market were due to a jobs pickup in the last weeks of June.

Phil Orlando, chief market strategist at Federated Investors, said he believes manufacturers began rehiring workers in late June following signs that Japan's economy was improving. Hiring slumped in May due partly to high fuel prices and disruptions of industrial supplies because of the earthquake and tsunami disasters in Japan.

Traders rushed to the relative safety of government bonds. The yield on the 10-year Treasury note fell to 3.01 percent from 3.19 percent just before the jobs report came out. Bond yields fall when demand for them increases.

Oil prices fell 2.5 percent. The slowdown in hiring suggested that demand for fuel will increase less than traders had expected. Lower fuel prices could eventually help the economy by leaving consumers with more money to spend on things other than gas.

Weak economic data this spring pushed stocks near their lowest levels of the year two weeks ago. Markets recovered last week, giving the Dow its best week in two years, on signals that the economy was rebounding. Stock indexes closed near their 2011 highs on Thursday.

Despite the weak job market, analysts still expect earnings at big U.S. companies to be strong. Companies are benefiting from export growth as the weak dollar makes American goods cheaper, and therefore more competitive, in overseas markets. Aluminum maker Alcoa Inc., one of the 30 companies in the Dow average, will be the first major corporation to report second-quarter financial results on Monday.

Orlando, the market strategist, said investors will be looking to see how companies have responded to higher commodity costs and a shortage of parts from Japan. "It's not going to be an earnings season where you can have a blanket proclamation regarding how companies are doing this time around," he said.

In other company news, Rupert Murdoch's media conglomerate News Corp. fell nearly 4 percent as a phone-hacking scandal at its News of the World tabloid deepened. A former editor of the paper who later served as spokesman for British Prime Minister David Cameron was arrested Friday. News Corp. shuttered the 168-year old paper on Thursday in hopes of saving its deal to take over the lucrative British satellite TV company British Sky Broadcasting. Government approval of that deal will now be delayed because of the crisis, which has shocked Britain.

The Dow rose 0.6 for the week, the Nasdaq 1.6 percent.

Two stocks fell for every one that rose on the New York Stock Exchange. Volume was lighter than average at 3.1 billion shares.

6169


----------



## bigdog

Source: http://finance.yahoo.com

July doesn't look so promising anymore.

The European debt crisis appears to be widening, with concerns about government debt defaults spreading beyond Greece to much larger countries like Italy and Spain. If that happens companies that do business internationally could see their revenue and profits decline as European countries and companies curtail purchases. What's more, a widespread financial crisis could cause a credit crunch in Europe and elsewhere.

The concerns sent stocks down. After a rally that sent markets up sharply the last two weeks of June, the Standard & Poor's 500 index dropped 24.31 points, or 1.8 percent, to 1,319.49 on Monday.

The Dow Jones industrial average had its biggest percentage drop in nearly a month. It fell 151.44 points, or 1.2 percent, to 12,505.76. And after closing one point off its 2011 high late last week, the Nasdaq composite fell 57.19, or 2.0 percent to 2,802.62.

Italy and Spain, Europe's third and fourth largest economies, have seen bond yields rise sharply. It's the latest sign that investors are less willing to hold the debt of those countries. Italy's largest banks, UniCredit SpA and Intesa, fell sharply on European exchanges. Some investors believe several of Italy and Spain's financial institutions might not pass an upcoming stress-test for European banks.

"What the European Union is trying to do is keep the problem contained at a sovereign level and not have the infection spread to the banking system," said Jack Ablin, chief investment officer at Harris Private Bank. "To see a bank drop that much that fast suggests there may be a breach."

That has led to fears in Europe and elsewhere that the aid from international lenders may not be enough to stop a broad deterioration of the European economy.

*The NYSE DOW NYSE DOW closed LOWER -151.44 points -1.20% on Monday July 11*
Sym .......Last .......Change..........
Dow 12,505.76 -151.44 -1.20% 
Nasdaq 2,802.62 -57.19 -2.00% 
S&P 500 1,319.49 -24.31 -1.81% 
30-yr Bond 4.2050% -0.0720 

NYSE Volume 3,890,789,000   (prior 3,600,058,250)
Nasdaq Volume 1,784,144,625 (prior  1,625,804,750)


*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,929.16 -61.42 -1.03% 
DAX 7,230.25 -172.48 -2.33% 
CAC 40 3,807.51 -106.04 -2.71% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,646.80 -69.20 -1.47% 
Shanghai Comp 2,802.69 +4.92 +0.18% 
Taiwan We... 8,665.85 -83.70 -0.96% 
Nikkei 225 10,069.53 -68.20 -0.67% 
Hang Seng 22,347.23 -379.20 -1.67% 
Straits Times 3,117.37 -33.91 -1.08% 

http://finance.yahoo.com/news/Stock...3.html?x=0&sec=topStories&pos=5&asset=&ccode=

Stocks sink on fresh fears about global economy
Stocks close sharply lower on fears that Europe's debt crisis could spread to Italy and Spain 

Francesca Levy, AP Business Writer, On Monday July 11, 2011, 5:30 pm EDT 
NEW YORK (AP) -- July doesn't look so promising anymore.

The European debt crisis appears to be widening, with concerns about government debt defaults spreading beyond Greece to much larger countries like Italy and Spain. If that happens companies that do business internationally could see their revenue and profits decline as European countries and companies curtail purchases. What's more, a widespread financial crisis could cause a credit crunch in Europe and elsewhere.

The concerns sent stocks down. After a rally that sent markets up sharply the last two weeks of June, the Standard & Poor's 500 index dropped 24.31 points, or 1.8 percent, to 1,319.49 on Monday.

The Dow Jones industrial average had its biggest percentage drop in nearly a month. It fell 151.44 points, or 1.2 percent, to 12,505.76. And after closing one point off its 2011 high late last week, the Nasdaq composite fell 57.19, or 2.0 percent to 2,802.62.

Italy and Spain, Europe's third and fourth largest economies, have seen bond yields rise sharply. It's the latest sign that investors are less willing to hold the debt of those countries. Italy's largest banks, UniCredit SpA and Intesa, fell sharply on European exchanges. Some investors believe several of Italy and Spain's financial institutions might not pass an upcoming stress-test for European banks.

"What the European Union is trying to do is keep the problem contained at a sovereign level and not have the infection spread to the banking system," said Jack Ablin, chief investment officer at Harris Private Bank. "To see a bank drop that much that fast suggests there may be a breach."

That has led to fears in Europe and elsewhere that the aid from international lenders may not be enough to stop a broad deterioration of the European economy.

The S&P fell broadly, led by financial companies. Financial stocks in the index fell 2.8 percent as bank stocks sank. Investment manager Janus Capital Group fared worst, falling 6.8 percent to $9.16. Citigroup Inc. led banks down, declining 5.3 percent to $39.79. If Europe's debt crisis continues to spread, bank lending could seize up. Banks are also expected to report weak earnings beginning later this week.

Of the 500 companies in the S&P index, 492 fell.

The euro fell against the dollar and U.S. government bond prices rose. The euro fell below $1.40 for the first time since May 23 and hit a record low against the Swiss franc. The yield on the 10-year Treasury note fell to 2.95 percent from 3.02 percent late Friday. Bond yields fall when their prices rise.

Markets seemed to be recovering during the last half of June. The last week of the month, the Dow had its best week in two years after several positive reports on manufacturing and consumer spending. All three major indexes were close to their previous highs for the year, reached April 29.

But the run-up just gave markets more room to fall, says Ralph Fogel, an investment strategist at Fogel Neal Partners in New York.

"When markets are at their bottom, they don't listen to bad news. But because we're at the top end, they listen," said Fogel.

The broadening of Europe's debt troubles follows disappointing U.S. employment news and a setback in negotiations over the country's borrowing limit.

The government reported Friday that employers pulled back sharply on hiring in June, compounding fears that the U.S. economy was in even worse shape than previously thought. The unemployment rate rose to 9.2 percent.

Weekend budget talks between Republicans and Democrats also stalled, raising the possibility that lawmakers might not reach an agreement on raising the country's debt limit before an Aug. 2 deadline. President Obama said he wouldn't sign a short-term extension to the limit.

"Markets don't like when they don't know what's going on," said Fogel. "They don't appreciate politics."

News Corp. fell 7.6 percent on Monday, the most of any company in the S&P 500, as its phone hacking scandal threatened the approval of its proposed takeover of British Sky Broadcasting, a highly profitable satellite TV company in Britain. The deal will now be reviewed by British competition authorities, which will put off a final decision for several months.

Wells Fargo fell 2.6 percent after the bank offered to settle for $125 million with pension funds that accused it of not warning investors about risky mortgage-backed securities.

Insurer American International Group Inc. fell 3.6 percent after saying it would fire one or more of the banks it used for its recent public stock offering when it sells more stock later this year. The move indicates that the company might not have confidence in its ability to sell more stock at a desirable price.

Gulfport Energy Corp. fell 6.2 percent. The oil and natural gas producer plans to sell 3 million shares to repay debt and pay for acquisitions.

Aluminum maker Alcoa Inc. fell 2.9 percent ahead of announcing its second-quarter results. Alcoa's report marks the unofficial beginning of U.S. earnings season. Aluminum is used in everything from airplanes to beer cans; the company's results typically offer insight into the health of the broader U.S. economy.

The company reported earnings after the market closed. Its income more than doubled as higher sales and prices offset increasing prices for raw materials, the company reported. Alcoa earned 32 cents per share. Analysts expected the company to earn 33 cents per share, according to FactSet. The company reaffirmed its forecast for 12 percent growth in global aluminum demand this year. Alcoa was down 0.4 percent in early aftermarket trading.

Several companies did post gains on Monday. Arch Chemicals Inc. rose 11.7 percent after saying it would be bought by Swiss drugmaker Lonza for $1.2 billion. Arch makes antibacterial products.

Chip-maker Microsemi Corp. was up 2.3 percent after an Oppenheimer analyst upgraded its rating on the company. The analyst cited a growing backlog of orders and improving profit margins.

LinkedIn rose 1.1 percent after web analytics company Comscore said that in June, the professional networking site was second only to Facebook among social networking sites in its number of unique visitors. LinkedIn had 33.9 million unique visitors in June. Facebook had 106.8 million unique visitors.

Six stocks fell for every one that rose on the New York Stock Exchange. Volume was lighter than usual at 3.5 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Hope that the Federal Reserve might consider more economic stimulus wasn't enough to keep bad news about Ireland from sinking stocks.

Ireland's government bonds were downgraded by ratings agency Moody's to junk status shortly before U.S. markets closed Tuesday, sending stocks sharply lower and erasing the day's gains. Ireland joins Greece and Portugal, whose debt was also recently graded as junk.

The move puts Ireland back on the list of heavily-indebted European countries in danger of default. The country has already received a financial rescue package from other countries. If a European country fails to pay its debts, it could cause widespread disruptions in financial markets and lead to a slowdown in lending. Worries about debt problems in Europe sent stocks down through the first half of June and appear to be having the same effect in July.

The Standard & Poor's 500 index fell 5.85, or 0.4 percent, to close at 1,313.64. The S&P is now down 0.5 percent for the month and 2.2 percent for the week. The Dow Jones industrial average fell 58.88, or 0.5 percent, to close at 12,446.88. The Nasdaq composite fell 20.71, or 0.7 percent, to close at 2,781. Both the Dow and Nasdaq are still up about 0.3 percent for the month.

Earlier Tuesday, minutes from the Federal Reserve's last meeting on June 21-22 were released. In those minutes, several Fed officials said that the government would have to consider new monetary policy to stimulate the economy, especially if growth remains too slow to reduce the unemployment rate.

That raised hopes that more economic stimulus might be on the way. The Dow rose about 60 points after the minutes were released, but retreated not long after

*The NYSE DOW NYSE DOW closed LOWER -58.88 -0.47% on Tuesday July 12*
Sym .......Last .......Change..........
Dow 12,446.88 -58.88 -0.47% 
Nasdaq 2,781.91 -20.71 -0.74%  
S&P 500 1,313.64 -5.85 -0.44%  
30-yr Bond 4.1910% -0.0140 

NYSE Volume 4,227,888,500  (prior 3,890,789,000)
Nasdaq Volume 2,034,454,750  (prior 1,784,144,625)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,868.96 -60.20 -1.02% 
DAX 7,174.14 -56.11 -0.78% 
CAC 40 3,774.12 -33.39 -0.88% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,563.50 -83.30 -1.79% 
Shanghai Comp 2,754.58 -48.11 -1.72% 
Taiwan We... 8,491.01 -174.84 -2.02% 
Nikkei 225 9,925.92 -143.61 -1.43% 
Hang Seng 21,663.16 -684.07 -3.06% 
Straits Times 3,077.36 -40.01 -1.28% 

http://finance.yahoo.com/news/Stock...3.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks fall after Ireland downgrade erases gains

Stocks plunge in late trading, erase gains after Moody's sends Ireland's debt into junk status *

Francesca Levy, AP Business Writer, On Tuesday July 12, 2011, 5:13 pm EDT 
NEW YORK (AP) -- Hope that the Federal Reserve might consider more economic stimulus wasn't enough to keep bad news about Ireland from sinking stocks.

Ireland's government bonds were downgraded by ratings agency Moody's to junk status shortly before U.S. markets closed Tuesday, sending stocks sharply lower and erasing the day's gains. Ireland joins Greece and Portugal, whose debt was also recently graded as junk.

The move puts Ireland back on the list of heavily-indebted European countries in danger of default. The country has already received a financial rescue package from other countries. If a European country fails to pay its debts, it could cause widespread disruptions in financial markets and lead to a slowdown in lending. Worries about debt problems in Europe sent stocks down through the first half of June and appear to be having the same effect in July.

The Standard & Poor's 500 index fell 5.85, or 0.4 percent, to close at 1,313.64. The S&P is now down 0.5 percent for the month and 2.2 percent for the week. The Dow Jones industrial average fell 58.88, or 0.5 percent, to close at 12,446.88. The Nasdaq composite fell 20.71, or 0.7 percent, to close at 2,781. Both the Dow and Nasdaq are still up about 0.3 percent for the month.

Earlier Tuesday, minutes from the Federal Reserve's last meeting on June 21-22 were released. In those minutes, several Fed officials said that the government would have to consider new monetary policy to stimulate the economy, especially if growth remains too slow to reduce the unemployment rate.

That raised hopes that more economic stimulus might be on the way. The Dow rose about 60 points after the minutes were released, but retreated not long after.

Stocks bounced between small gains and losses for most of the day amid worries that Italy would need help managing its debts. A successful auction of new Italian government bonds and a promise to fast-track that country's austerity measures helped ease those fears. The news sent Milan's main stock index up 1.2 percent. A default by Italy, the third-largest economy in Europe, would cause far more damage to the global financial system than one by Greece, which is a much smaller economy.

Investors also felt some relief after a meeting of 17 European finance ministers Monday resulted in a statement that implied they were open to buying distressed Greek bonds.

"They are trying to staunch the bleeding," said Quincy Krosby, market strategist for Prudential Financial. "That has reassured investors that there are, in essence, buyers of last resort."

U.S. financial stocks rose as tensions eased about Europe's financial crisis. MBIA Inc. rose 6.9 percent after the company agreed to dismiss a lawsuit against Merrill Lynch.

Technology stocks fell following poor results from chip makers. Microchip Technology Inc. fell 4.5 percent, the most of any stock in the S&P 500 index, after the chip maker said it expected lower quarterly revenue and income because of waning demand from car makers. That pushed the stocks of other chip makers lower too. Novellus Systems Inc. fell 11.2 percent after lowering its own profit forecast, and Texas Instruments Inc. fell 3.7 percent.

Radiant Systems Inc. soared 30.5 percent after saying ATM maker NCR Corp. would buy the company, which makes equipment and software for the hospitality and retail industries, for $1.2 billion. But Central Vermont Public Service Corp. fell 2.6 percent after it announced Canada's Gaz Metro would buy the utility for $472.4 million. Rival bidder Fortis cancelled its offer.

International Game Technology rose 3.3 percent after a Sterne Agee analyst raised its rating on the company, saying it would likely sell more casino games.


----------



## bigdog

Source: http://finance.yahoo.com

Comments from Fed Chairman Ben Bernanke set off a stock market rally early Wednesday, but it wasn't long before another Fed official helped cut it short.

In testimony before Congress, Bernanke said the central bank would be open to new economic stimulus measures, but only if the economy gets much worse. The remarks were far from a promise for more Fed action, but markets reacted immediately nonetheless. The Dow Jones industrial average jumped as many as 164 points, or 1.3 percent.

Most of those gains evaporated later in the day after Federal Reserve Bank of Dallas President Richard Fisher said in a speech that the Fed had already "pressed the limits of monetary policy."

The Standard & Poor's 500 index rose 4.08, or 0.3 percent, to close at 1,317.72. The Dow Jones industrial average rose 44.73, or 0.4 percent, to 12,491.61. The Nasdaq composite rose 15.01, or 0.5 percent, to 2,796.92. Indexes had fallen over the previous three days.

Stocks also took a hit in the afternoon when House Speaker John Boehner called into question whether lawmakers would agree to raise the government's borrowing limit by an Aug. 2 deadline. Failure to meet the deadline could result in a U.S. debt default, which would have disastrous effects for the economy and financial markets. Boehner, a Republican, said that dealing with Democrats on the issue has been like "dealing with Jell-O."

*The NYSE DOW NYSE DOW closed HIGHER  +44.73    points  +0.36%    on Friday July 8*
Sym .......Last .......Change..........
Dow 12,491.61 +44.73 +0.36% 
Nasdaq 2,796.92 +15.01 +0.54% 
S&P 500 1,317.72 +4.08 +0.31% 
30-yr Bond 4.1790% -0.0120 

NYSE Volume 4,060,077,000 (prior 4,227,888,500)
Nasdaq Volume 1,907,240,125 (prior 2,034,454,750)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,904.19 +35.23 +0.60% 
DAX 7,268.42 +94.28 +1.31% 
CAC 40 3,792.05 +17.93 +0.48% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,583.20 +19.70 +0.43% 
Shanghai Comp 2,795.48 +40.89 +1.48% 
Taiwan We... 8,488.06 -2.95 -0.03% 
Nikkei 225 9,963.14 +37.22 +0.37% 
Hang Seng 21,926.88 +263.72 +1.22% 
Straits Times 3,091.10 +13.74 +0.45% 

http://finance.yahoo.com/news/Stock...1.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stock rally weakens as hopes dim for more stimulus

Stock rally fizzles as hopes fade for more Fed stimulus; Dow, S&P break a 3-day losing streak *

Francesca Levy, AP Business Writer, On Wednesday July 13, 2011, 6:14 pm 
NEW YORK (AP) -- Comments from Fed Chairman Ben Bernanke set off a stock market rally early Wednesday, but it wasn't long before another Fed official helped cut it short.

In testimony before Congress, Bernanke said the central bank would be open to new economic stimulus measures, but only if the economy gets much worse. The remarks were far from a promise for more Fed action, but markets reacted immediately nonetheless. The Dow Jones industrial average jumped as many as 164 points, or 1.3 percent.

Most of those gains evaporated later in the day after Federal Reserve Bank of Dallas President Richard Fisher said in a speech that the Fed had already "pressed the limits of monetary policy."

The Standard & Poor's 500 index rose 4.08, or 0.3 percent, to close at 1,317.72. The Dow Jones industrial average rose 44.73, or 0.4 percent, to 12,491.61. The Nasdaq composite rose 15.01, or 0.5 percent, to 2,796.92. Indexes had fallen over the previous three days.

Stocks also took a hit in the afternoon when House Speaker John Boehner called into question whether lawmakers would agree to raise the government's borrowing limit by an Aug. 2 deadline. Failure to meet the deadline could result in a U.S. debt default, which would have disastrous effects for the economy and financial markets. Boehner, a Republican, said that dealing with Democrats on the issue has been like "dealing with Jell-O."

Bernanke spelled out specific steps the Fed might consider if the economy gets worse, including another round of bond purchases. He also detailed what the Fed would do should the economy improve.

Bernanke's position remains that the slowdown in the U.S. economy this spring is due largely to temporary factors including high gas prices and parts shortages caused by the earthquake in Japan. He said he still expects economic growth to pick up in the second half of the year.

Energy and materials stocks rose more than the overall market as investors bought companies that would benefit most from an upturn in the economy. Heavy equipment maker Caterpillar Inc. rose 1.6 percent, the most of any of the 30 stocks in the Dow average.

The Fed's policy of ultra-low interest rates and buying U.S. Treasury bonds on the open market has pushed stocks higher since last August. Many traders were disappointed when the Fed ended its second round of bond purchases in June.

Signs of healthy growth in China also helped push stocks higher. The Chinese government reported that the country's economy grew at a slower but still healthy rate of 9.5 percent last quarter. China is attempting to rein in its speeding expansion and ease inflation, but a sudden drop-off in growth could hurt the U.S. economy by cutting into demand for U.S. exports.

Markets also rose because fears abated that Italy would default on its debt. The S&P 500 fell 2.9 percent over the past three days as traders worried one or more European countries would fail to pay their debts, causing a global slowdown in lending.

A successful auction of Italian government debt and a pledge by that country's leaders to accelerate cost-cutting plans reassured markets that Europe's third-largest economy was not on the verge of becoming the latest European country to need emergency financial support to avoid a default. Italian stocks rallied 1.8 percent on relief that Italy's fiscal outlook was not as shaky as believed just a few days ago.

About two stocks rose for every one that fell on the New York Stock Exchange. Volume was relatively light at 3.3 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Remarks by Federal Reserve Chairman Ben Bernanke that dimmed hopes for a third round of bond-buying pushed stocks lower Thursday.

In a second day of testimony, Bernanke told lawmakers the Fed expects the economy to improve. He said the central bank would only step in with more economic stimulus if there is a significant downturn in the economy.

"We're not prepared at this point to take further action," Bernanke said.

Stocks turned immediately lower after the remarks and fell for much of the day.

Bernanke was clarifying statements he made Wednesday that left the door open to new economic stimulus measures. Investors took his earlier remarks to mean that the Fed chairman had all but guaranteed new action to stimulate the economy, said Jeff Cleveland, senior economist at money manager Payden & Rygel.

"They realize that's not the case now," Cleveland said.

The Standard & Poor's 500 index fell 8.85 points, or 0.7 percent, to close at 1,308.87. The Dow Jones industrial average fell 54.49, or 0.4 percent, to 12,437.12. The Nasdaq composite fell 34.25, or 1.2 percent, to 2,762.67.

It was the fourth day of losses on the stock market out of the last five. Worries that Italy could be the next European country to get caught up in the region's debt problems have kept investors on edge this week.

*The NYSE DOW NYSE DOW closed   LOWER -54.49    points  -0.44%    on Thursday July 14*
Sym .......Last .......Change..........
Dow 12,437.12 -54.49 -0.44% 
Nasdaq 2,762.67 -34.25 -1.22% 
S&P 500 1,308.87 -8.85 -0.67% 
30-yr Bond 4.2420% +0.0630 

NYSE Volume 4,364,093,500  (prior 4,060,077,000)
Nasdaq Volume 2,023,066,125  (prior 1,907,240,125)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,846.95 -59.48 -1.01% 
DAX 7,214.74 -53.13 -0.73% 
CAC 40 3,751.23 -42.04 -1.11% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,561.30 -21.90 -0.48% 
Shanghai Comp 2,811.49 +1.04 +0.04% 
Taiwan We... 8,481.35 -6.71 -0.08% 
Nikkei 225 9,936.12 -27.02 -0.27% 
Hang Seng 21,940.20 +13.32 +0.06% 
Straits Times 3,088.70 +0.28 +0.01% 

*Stocks fall after Bernanke dims stimulus hopes

Stocks end lower after Bernanke says the Fed is not about to stimulate the economy *

By FRANCESCA LEVY
AP Business Writer

NEW YORK ”” Remarks by Federal Reserve Chairman Ben Bernanke that dimmed hopes for a third round of bond-buying pushed stocks lower Thursday.

In a second day of testimony, Bernanke told lawmakers the Fed expects the economy to improve. He said the central bank would only step in with more economic stimulus if there is a significant downturn in the economy.

"We're not prepared at this point to take further action," Bernanke said.

Stocks turned immediately lower after the remarks and fell for much of the day.

Bernanke was clarifying statements he made Wednesday that left the door open to new economic stimulus measures. Investors took his earlier remarks to mean that the Fed chairman had all but guaranteed new action to stimulate the economy, said Jeff Cleveland, senior economist at money manager Payden & Rygel.

"They realize that's not the case now," Cleveland said.

The Standard & Poor's 500 index fell 8.85 points, or 0.7 percent, to close at 1,308.87. The Dow Jones industrial average fell 54.49, or 0.4 percent, to 12,437.12. The Nasdaq composite fell 34.25, or 1.2 percent, to 2,762.67.

It was the fourth day of losses on the stock market out of the last five. Worries that Italy could be the next European country to get caught up in the region's debt problems have kept investors on edge this week.

Google Inc. rose 12 percent in after-hours trading after the company reported earnings that soared past analyst expectations. The results calmed investors who were concerned that a leadership shake-up would hurt the company.

JPMorgan Chase & Co. rose 1.8 percent after the bank reported that higher investment banking fees raised its net income above analysts' expectations.

ConocoPhillips rose 1.6 percent after the country's third-largest oil company said it would split in two. One company will be an oil producer, and the other a refinery. Investors preferred two simple businesses to one complicated one.

Stocks started higher after applications for unemployment benefits fell to a three-month low last week, a sign that companies are laying off fewer workers. At 405,000, the figure is still above the 375,000 that signals healthy job growth.

In a separate report, the government also said an increase in car sales and a drop in gas prices pushed up retail sales slightly in June.

Stocks were also held back by a stalemate in Washington over raising the country's borrowing limit. Late Wednesday Moody's threatened to lower the U.S. credit rating below the highest grade of triple-A, citing the risk that the government might fail to make its debt payments if an agreement isn't reached by an Aug. 2 deadline.

In Europe, a threat resurfaced that Italy's government could lose control of the country's debt crisis. Yields on Italy's debt jumped to their highest level since the introduction of the euro following a bond sale. A debt default for an economy as large as Italy's would hurt lending across the globe.

Marriott International Inc. fell 6.6 percent after the hotel chain said it would earn less in the full year than previously expected.

YUM Brands Inc. rose 1.4 percent after the owner of the Pizza Hut, Taco Bell and KFC fast-food chains said its earnings rose on strong international sales.

About four stocks fell for every one that rose on the New York Stock Exchange. Volume was light at 3.8 billion.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow average fell 1.4 percent for the week, the Nasdaq 2.4 percent.

A late rally Friday prevented the stock market from having its worst week in nearly a year.

Investors seemed to largely ignore the ongoing debate in Washington over raising the country's borrowing limit. Troubling questions over Europe's financial health and manufacturing in the U.S. weighed down stock prices for much of the day, overwhelming a very strong earnings report from Google Inc.

Google jumped nearly 13 percent, the most of any stock in the Standard and Poor's 500 index, after the company said its revenue hit a record last quarter. Google's earnings pushed tech stocks in the S&P index broadly higher. Microsoft Corp. and Cisco Systems Inc. each gained 1 percent.

Worries about Europe and weak factory output in the U.S. have kept traders' expectations and stock prices relatively low since early this spring, said Ryan Detrick, senior technical strategist Schaeffer's Investment Research. If corporate earnings remain strong and Europe stabilizes, he said, stocks might rally in the second half of the year. That happened last year, after fears about Europe held the stock market back all summer.

"With all the talk about European debt and the U.S. issues, the fact that earnings are coming in pretty strong is a good sign," Detrick said. "Once those issues work their way through the system, long-term growth is going to come from earnings."

Most investors believe a deal to raise the country's debt ceiling will be reached before the Aug. 2 deadline. Standard & Poor's said Thursday there is a 50 percent chance it will downgrade the government's triple-A rating within three months because of the impasse. Moody's made a similar warning on Wednesday. Even so, there has been little visible progress in negotiations between President Barack Obama and Congressional Republicans.

The Standard and Poor's 500 stock index finished with a gain of 7.27, or 0.6 percent, to 1,316.14. Most of the gains came in the last hour of trading.

The Dow Jones industrial average added 42.61, or 0.3 percent, to 12,479.73. The Nasdaq composite rose 27.13, or 1 percent, to 2,789.80

*The NYSE DOW NYSE DOW closed   HIGHER    +42.61      points  +0.34%   on Friday July 15*
Sym .......Last .......Change..........
Dow 12,479.73 +42.61 +0.34% 
Nasdaq 2,789.80 +27.13 +0.98% 
S&P 500 1,316.14 +7.27 +0.56% 
30-yr Bond 4.2510% +0.0090 

NYSE Volume 4,446,061,000  (prior 4,364,093,500
Nasdaq Volume 1,829,946,750  (prior 2,023,066,125)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,843.66 -3.29 -0.06% 
DAX 7,220.12 +5.38 +0.07% 
CAC 40 3,726.59 -24.64 -0.66% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,542.70 -18.60 -0.41% 
Shanghai Comp 2,820.17 +9.73 +0.35% 
Taiwan We... 8,574.91 +93.56 +1.10% 
Nikkei 225 9,974.47 +38.35 +0.39% 
Hang Seng 21,875.38 -64.82 -0.30% 
Straits Times 3,084.24 -4.46 -0.14% 


http://finance.yahoo.com/news/Stock...1.html?x=0&sec=topStories&pos=6&asset=&ccode=

*Stocks narrowly miss having worst week in a year

Stocks inch higher on strong earnings from Google and Citi; indexes finish week lower* 

Daniel Wagner and David K. Randall, AP Business Writers, On Friday July 15, 2011, 5:08 pm EDT 

A late rally Friday prevented the stock market from having its worst week in nearly a year.

Investors seemed to largely ignore the ongoing debate in Washington over raising the country's borrowing limit. Troubling questions over Europe's financial health and manufacturing in the U.S. weighed down stock prices for much of the day, overwhelming a very strong earnings report from Google Inc.

Google jumped nearly 13 percent, the most of any stock in the Standard and Poor's 500 index, after the company said its revenue hit a record last quarter. Google's earnings pushed tech stocks in the S&P index broadly higher. Microsoft Corp. and Cisco Systems Inc. each gained 1 percent.

Worries about Europe and weak factory output in the U.S. have kept traders' expectations and stock prices relatively low since early this spring, said Ryan Detrick, senior technical strategist Schaeffer's Investment Research. If corporate earnings remain strong and Europe stabilizes, he said, stocks might rally in the second half of the year. That happened last year, after fears about Europe held the stock market back all summer.

"With all the talk about European debt and the U.S. issues, the fact that earnings are coming in pretty strong is a good sign," Detrick said. "Once those issues work their way through the system, long-term growth is going to come from earnings."

Most investors believe a deal to raise the country's debt ceiling will be reached before the Aug. 2 deadline. Standard & Poor's said Thursday there is a 50 percent chance it will downgrade the government's triple-A rating within three months because of the impasse. Moody's made a similar warning on Wednesday. Even so, there has been little visible progress in negotiations between President Barack Obama and Congressional Republicans.

The Standard and Poor's 500 stock index finished with a gain of 7.27, or 0.6 percent, to 1,316.14. Most of the gains came in the last hour of trading.

The Dow Jones industrial average added 42.61, or 0.3 percent, to 12,479.73. The Nasdaq composite rose 27.13, or 1 percent, to 2,789.80.

The late gains Friday trimmed the S&P 500's weekly losses to 2.1 percent. Had the index closed where it was at 2:30pm it would have been down 2.6 percent for the week, making it the worst week for the widely used market measure since last August.

The S&P 500 has only had two up days out of the last six as Italy appeared to be the next European country headed for a fiscal calamity. Those concerns ebbed Friday after Italy passed new austerity measures and Europe's banking authority said only eight banks out of 90 failed the latest round of "stress" tests designed to measure how they would stand up under severe financial strains.

Energy stocks rose 2.4 percent after Australian natural-resource giant BHP Billiton Ltd. said it would buy Petrohawk Energy Corp. for $12.1 billion, feeding speculation about which company might be the next takeover target. BHP was attracted to the long-term value of Petrohawk's U.S. natural gas reserves. Chesapeake Energy Corp., Cabot Oil & Gas Corp and Pioneer Natural Resources Co. each rose 10 percent. Natural gas prices rose 3.7 percent.

Mattel Inc. rose nearly 2 percent after the company said its income jumped 56 percent in the second quarter, helped by strong demand for Barbie and "Cars 2" toys. Clorox Co. jumped 9 percent after billionaire investor Carl Icahn offered to take the company private in a deal that values the household products company at $10.2 billion. Icahn offered 12 percent more for shares than they were worth at Thursday's close.

Bank of America closed at $10 after briefly dipping below that mark for the first time since May 2009. The company, which is expected to report Tuesday that it lost money in its most recent quarter.

Three stocks rose for every two that fell on the New York Stock Exchange. Volume was slightly higher than average at 4 billion shares.

The Dow average fell 1.4 percent for the week, the Nasdaq 2.4 percent.

7070


----------



## Boggo

If this continues to play by the rules as it has so far then 13500 may be an area of interest (correction ?).

(click to expand)


----------



## Boggo

Will/do history (patterns) repeat, with a little 1600 point ABC correction in the middle ?

(tech/a, if you see this can you have a look in Aget ?. Are we in a W.3 in the current sequence maybe ?, ie 1 and 2 completed)

(click to expand)


----------



## bigdog

Source: http://finance.yahoo.com

Five stocks fell for every one that rose on the New York Stock Exchange. Volume was slightly below average at 3.7 billion shares.

Not even a string of better earnings reports could stave off worries about debt on Monday.

Europe's banking troubles and an impasse over lifting the U.S. government's borrowing limit helped drag down stock markets in the U.S. and Europe. Gold rose above $1,600 an ounce as investors sought safe places to park money.

The S&P 500 index dropped 10.70 points, or 0.8 percent, to close at 1,305.44.

The Dow Jones industrial average and Nasdaq composite index gave up their gains for the month. The Dow fell 94.57 points, 0.8 percent, to 12,385.16. The Nasdaq fell 24.69 points, or 0.9 percent, to 2,765.11.

The results of stress tests on European banks released last week came under deeper scrutiny. Eight banks failed the test aimed at measuring how well they would hold up under additional financial strain.

But the tests didn't take into account how banks would fare if Greece or Italy defaults, says Dan Greenhaus, chief global strategist at BTIG. Greece and Italy are among the countries most at risk of defaulting on their debts.

*The NYSE DOW NYSE DOW closed       LOWER   -94.57    points   -0.76%    on Monday July 18*
Sym .......Last .......Change..........
Dow 12,385.16 -94.57 -0.76% 
Nasdaq 2,765.11 -24.69 -0.89% 
S&P 500 1,305.44 -10.70 -0.81% 
30-yr Bond 4.2880% +0.0370 

NYSE Volume 4,186,472,500  (prior 4,446,061,000)
Nasdaq Volume 1,776,835,000  (prior 1,829,946,750)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,752.81 -90.85 -1.55% 
DAX 7,107.92 -112.20 -1.55% 
CAC 40 3,650.71 -75.88 -2.04% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,539.90 -2.80 -0.06% 
Shanghai Comp 2,816.69 -3.48 -0.12% 
Taiwan We... 8,538.57 -36.34 -0.42% 
Nikkei 225 9,974.47 +38.35 +0.39% 
Hang Seng 21,804.75 -70.63 -0.32% 
Straits Times 3,078.95 -5.29 -0.17% 

http://finance.yahoo.com/news/Debt-...5.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Debt worries drag down the stock market

Stocks fall on worries about European banks and impasse in Washington over the US debt limit *

Matthew Craft, AP Business Writer, On Monday July 18, 2011, 4:53 pm EDT 
NEW YORK (AP) -- Not even a string of better earnings reports could stave off worries about debt on Monday.

Europe's banking troubles and an impasse over lifting the U.S. government's borrowing limit helped drag down stock markets in the U.S. and Europe. Gold rose above $1,600 an ounce as investors sought safe places to park money.

The S&P 500 index dropped 10.70 points, or 0.8 percent, to close at 1,305.44.

The Dow Jones industrial average and Nasdaq composite index gave up their gains for the month. The Dow fell 94.57 points, 0.8 percent, to 12,385.16. The Nasdaq fell 24.69 points, or 0.9 percent, to 2,765.11.

The results of stress tests on European banks released last week came under deeper scrutiny. Eight banks failed the test aimed at measuring how well they would hold up under additional financial strain.

But the tests didn't take into account how banks would fare if Greece or Italy defaults, says Dan Greenhaus, chief global strategist at BTIG. Greece and Italy are among the countries most at risk of defaulting on their debts.

Italy not only has Europe's third largest economy but also the world's third-largest bond market at 1.8 trillion euro ($2.5 trillion). "So far European officials have failed to stabilize a country as small as Greece," Greenhaus said. "So we have little reason to have faith they'll fix a country as big as Italy."

In the U.S., the debt limit debate remains at a standstill in Washington. The Treasury Department says the limit must be raised by Aug. 2 or the government risks defaulting on its debt.

But a deal needs to be reached soon, possibly as early as Friday, to have legislation ready for President Barack Obama to sign by the deadline. Rating agencies warned last week that the impasse puts the country's triple-A credit rating grade at risk.

House Republicans are preparing to vote Tuesday on their plan that would lift the debt ceiling but also slash spending. The proposal includes a balanced-budget amendment to the U.S. Constitution. President Barack Obama pledged to veto the bill.

The latest delay in reaching a deal is beginning to weigh on markets.

U.S. banks stocks, which would get hit hard in the event of a default, fell sharply. Bank of America slid 2.8 percent, to $9.72, the biggest drop for the 30 stocks in the Dow average. The bank recently announced an $8.5 billion settlement with a group of mortgage bond investors and reports earnings Tuesday. It's the only major bank trading in the single digits.

Gold rose for the tenth day in a row, jumping 0.8 percent to $1,602.40 an ounce. That's another record in dollar terms, but it's still below the high reached in the early 1980s once inflation is taken into account.

Gold has been rising steadily since the start of the month as the countries considered at risk of default expanded beyond Greece to include Italy and the U.S. Traders have been buying gold as an alternative to holding dollars and euros as the debt problems in the U.S. and Europe undermine confidence in both currencies.

Adding to the worries for investors: lowered expectations for the U.S. economy. Economists at Goldman Sachs lowered their estimates for U.S. economic growth in the second and third quarters of the year late Friday. The economists cited weak sales growth and a drop in consumer confidence in cutting their forecast for second-quarter growth to 1.5 percent from 2 percent. Goldman lowered its third quarter estimate to 2.5 percent from 3.25 percent.

Monday's stock-market sell-off pulled down companies in every industry, especially banks. Even companies reporting strong profits slid lower.

Halliburton Co. ended the day nearly unchanged after posting record revenue in the second quarter. The oil-field service company trounced Wall Street's earnings estimates as higher oil prices led to more drilling, increasing demand for Halliburton's services.

News Corp. fell 4.3 percent as the troubles deepened for Rupert Murdoch's media conglomerate. Rebekah Brooks, the former head of the company's British newspaper business, was arrested over the weekend in connection with a widening phone-hacking scandal. News Corp. has abandoned its bid to assume full control of the highly lucrative satellite TV company British Sky Broadcasting. News Corp.'s shares are down 15 percent this month.

Hasbro Inc. fell 4.8 percent. Stronger sales of Transformers action figures and other products lifted the toy maker's earnings but not enough to beat Wall Street's estimates.

Profits at newspaper publisher Gannett Co. Inc. fell 22 percent but it still beat analysts' estimates by a penny. Gannett said it would start buying back stock and double its quarterly dividend to 8 cents. Gannett's stock dropped 3.5 percent.

It's the start of a crowded week of earnings reports. More than 100 of the companies that make up the S&P 500 index are set to release second-quarter results. The list includes the major banks, Apple Inc., Johnson & Johnson and General Electric Co.

Five stocks fell for every one that rose on the New York Stock Exchange. Volume was slightly below average at 3.7 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Four stocks rose for every one that fell on the New York Stock Exchange. Trading volume was below average at 3.9 billion shares.

Strong profits and a bipartisan plan to lift the U.S. debt limit drove a stock market rebound Tuesday.

Stock indexes rose after Coca-Cola, IBM and other companies reported better second-quarter earnings. The indexes added to their gains in the afternoon after President Barack Obama backed a proposal by six senators that would cut debt by $3.7 trillion over the next decade and raise the country's $14.3 trillion debt ceiling.

The Dow Jones industrial average gained 202.26 points, or 1.6 percent, to close at 12,587.42. That's the Dow's largest one-day jump this year.

"It looks like there's bipartisan support for a robust plan," said Burt White, chief investment officer at LPL Financial in Boston. "The stock market had been looking for a reason to have a relief rally. And it looks like they got the start of one today. "

The ongoing deadlock in Washington over raising the country's borrowing limit and Europe's debt crisis have been weighing on markets this month. The Dow slid five of the previous seven days.

The S&P 500 index rose 21.29 points, or 1.6 percent, to 1,326.73. That's the broader index's best day since March 3. The Nasdaq gained 61.41 points, or 2.2 percent, to 2,826.52.

Tuesday's gains turned the three major indexes positive for the month. The Dow and Nasdaq are now up more than 1 percent in July. The S&P 500 is up 0.5 percent.

*The NYSE DOW NYSE DOW closed   HIGHER  +202.26       points  +1.63%   on Wednesday July 20*
Sym .......Last .......Change..........
Dow 12,587.42 +202.26 +1.63% 
Nasdaq 2,826.52 +61.41 +2.22% 
S&P 500 1,326.73 +21.29 +1.63% 
30-yr Bond 4.1960% -0.0920 

NYSE Volume 4,269,318,000  (prior 4,186,472,500)
Nasdaq Volume 1,861,717,375  (prior 1,776,835,000)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,789.99 +37.18 +0.65% 
DAX 7,192.67 +84.75 +1.19% 
CAC 40 3,694.95 +44.24 +1.21% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,539.40 -0.50 -0.01% 
Shanghai Comp 2,798.32 -18.36 -0.65% 
Taiwan We... 8,524.57 -14.00 -0.16% 
Nikkei 225 9,889.72 -84.75 -0.85% 
Hang Seng 21,902.40 +97.65 +0.45% 
Straits Times 3,096.12 +17.17 +0.56% ]Europe[/B]

http://finance.yahoo.com/news/Stock...5.html?x=0&sec=topStories&pos=7&asset=&ccode=

*Stocks rebound on earnings, debt-limit proposal

Strong earnings from Coke, IBM send stocks up; Dow jumps 202, its biggest gain this year*


Matthew Craft, AP Business Writer, On Tuesday July 19, 2011, 4:59 pm EDT
NEW YORK (AP) -- Strong profits and a bipartisan plan to lift the U.S. debt limit drove a stock market rebound Tuesday.

Stock indexes rose after Coca-Cola, IBM and other companies reported better second-quarter earnings. The indexes added to their gains in the afternoon after President Barack Obama backed a proposal by six senators that would cut debt by $3.7 trillion over the next decade and raise the country's $14.3 trillion debt ceiling.

The Dow Jones industrial average gained 202.26 points, or 1.6 percent, to close at 12,587.42. That's the Dow's largest one-day jump this year.

"It looks like there's bipartisan support for a robust plan," said Burt White, chief investment officer at LPL Financial in Boston. "The stock market had been looking for a reason to have a relief rally. And it looks like they got the start of one today. "

The ongoing deadlock in Washington over raising the country's borrowing limit and Europe's debt crisis have been weighing on markets this month. The Dow slid five of the previous seven days.

The S&P 500 index rose 21.29 points, or 1.6 percent, to 1,326.73. That's the broader index's best day since March 3. The Nasdaq gained 61.41 points, or 2.2 percent, to 2,826.52.

Tuesday's gains turned the three major indexes positive for the month. The Dow and Nasdaq are now up more than 1 percent in July. The S&P 500 is up 0.5 percent.

Information technology stocks led industry groups higher after IBM Corp.'s results beat analysts' estimates. Corporate software spending held steady during the quarter. IBM's stock rose 5.7 percent.

The tech gains could continue Wednesday. Apple Inc. reported another surge in earnings after the stock market closed as sales of iPhones and iPads again set records. The stock rose 6 percent to $399.53 in after-hours trading.

Coca-Cola Co.'s income increased 18 percent in the second quarter on stronger sales overseas. The world's largest beverage maker raised some prices to offset higher ingredient costs. Coca-Cola's stock was up 3.3 percent.

KeyCorp rose 4.3 percent after the Cleveland-based banking company reported a jump in earnings thanks to a drop in loan losses. The bank reported income of 25 cents a share, up from 3 cents a share a year ago.

Harley-Davidson Inc. rose 8.9 percent, making it the top performing stock in the S&P 500 index. The motorcycle maker reported its first increase in U.S. sales since the final quarter of 2006. Sales of its motorcycles, some of which sell for more than $30,000, had languished throughout the economic slump.

A jump in housing construction lifted the stocks of Lennar Corp. and D.R. Horton Inc. The Commerce Department said building of new houses and apartments increased 14.6 percent in June from the previous month. Single-family house construction rose 9.4 percent, the largest increase since June 2009, the month that marked the end of the recession. Much of the monthly increase, however, came from new apartment buildings.

Bank stocks were mixed. Wells Fargo & Co.'s profit soared 30 percent to 70 cents per share on stronger results from lending. Uncollected loans dropped for the sixth quarter in a row. The bank's stock gained 5.6 percent.

Both Bank of America Corp. and Goldman Sachs Group Inc. fell after posting disappointing results.

Bank of America lost 90 cents per share. That's more than analysts polled by data provider FactSet expected. The loss included a $8.5 billion settlement the bank paid to mortgage-bond investors.

Goldman's earnings more than doubled to $1.85 per share, up from 78 cents a year ago. But a drop in bond trading kept results from hitting the analysts' estimates of $2.35 per share.

Two weeks are left before the Treasury Department says the government must lift the country's $14.3 trillion borrowing limit or risk defaulting on its obligations.

Most economists say that if the world's largest economy reneges on its debts, the consequences would be catastrophic. In testimony last week, Federal Reserve Chairman Ben Bernanke said a default would be a "calamitous outcome" and "create a severe financial shock."

Bernanke said U.S. government bonds are so widely used in global finance that if faith in them were undermined it would have far-reaching and unexpected consequences.

Four stocks rose for every one that fell on the New York Stock Exchange. Trading volume was below average at 3.9 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

A rally over hopes for a debt-limit deal turned into a waiting game for investors.

One day after the Dow Jones industrial average had its best day this year, the stock market edged lower on Wednesday. Analysts say concerns about lifting the U.S. debt limit outweighed strong earnings from Apple and a slew of new corporate deals.

"In this environment, stringing together a few days like yesterday is going to be tough," said Brad Sorensen, director of market analysis at Charles Schwab.

Apparent progress on raising the U.S. debt limit launched a stock market rally Tuesday. The Dow jumped 202 points, its best day this year. But investors woke up Wednesday to find Washington still at a stalemate. And with less than two weeks before the government risks defaulting on its debt, they are finding it hard to continue the celebration.

The Dow Jones industrial average fell 15.51 points, or 0.1 percent, to close at 12,571.91.

The S&P 500 index dropped 0.89 point to 1,325.84. The Nasdaq fell 12.29 points, or 0.4 percent, to 2,814.23.

*The NYSE DOW NYSE DOW closed      LOWER   -15.51    points -0.12%     on Wednesday July 20*
Sym .......Last .......Change..........
Dow 12,571.91 -15.51 -0.12% 
Nasdaq 2,814.23 -12.29 -0.43% 
S&P 500 1,325.84 -0.89 -0.07% 
30-yr Bond 4.2630% +0.0670 

NYSE Volume 3,801,132,000  (prior 4,269,318,000)
Nasdaq Volume 1,884,351,500   (prior 1,861,717,375)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,853.82 +63.83 +1.10% 
DAX 7,221.36 +28.69 +0.40% 
CAC 40 3,754.60 +59.65 +1.61% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,618.40 +79.00 +1.74% 
Shanghai Comp 2,794.20 -2.78 -0.10% 
Taiwan We... 8,706.17 +181.60 +2.13% 
Nikkei 225 10,005.90 +116.18 +1.17% 
Hang Seng 22,003.69 +101.29 +0.46% 
Straits Times 3,126.53 +30.41 +0.98%

http://finance.yahoo.com/news/Stock...5.html?x=0&sec=topStories&pos=6&asset=&ccode=

*Stocks dip after biggest day in a year

Concerns about raising the debt limit overshadow stronger earnings and merger news* 

Matthew Craft, AP Business Writer, On Wednesday July 20, 2011, 4:55 pm EDT 

NEW YORK (AP) -- A rally over hopes for a debt-limit deal turned into a waiting game for investors.

One day after the Dow Jones industrial average had its best day this year, the stock market edged lower on Wednesday. Analysts say concerns about lifting the U.S. debt limit outweighed strong earnings from Apple and a slew of new corporate deals.

"In this environment, stringing together a few days like yesterday is going to be tough," said Brad Sorensen, director of market analysis at Charles Schwab.

Apparent progress on raising the U.S. debt limit launched a stock market rally Tuesday. The Dow jumped 202 points, its best day this year. But investors woke up Wednesday to find Washington still at a stalemate. And with less than two weeks before the government risks defaulting on its debt, they are finding it hard to continue the celebration.

The Dow Jones industrial average fell 15.51 points, or 0.1 percent, to close at 12,571.91.

The S&P 500 index dropped 0.89 point to 1,325.84. The Nasdaq fell 12.29 points, or 0.4 percent, to 2,814.23.

Apple Inc. rose 2.7 percent after the company's income doubled last quarter. Sales of Apple's iPhones quadrupled in Asia.

The stock of Zillow, a real estate website, jumped 79 percent in its first day of trading to $35.77. Zillow's initial public offering of stock priced at $20 late Tuesday.

Clorox rose 2.4 percent after billionaire investor Carl Icahn raised his bid for the company to $80 a share. The consumer products company rejected his previous offer.

News of record earnings and new deals would usually brighten investors' mood, Sorenson said. In the current earnings season, for instance, some 75 percent of companies in the Standard & Poor's 500 index have beaten analysts' estimates. But larger worries about debt troubles in the U.S. and Europe are holding the market back. "It's causing investors and businesses and consumers to be concerned about the future," he said.

European Union officials plan to meet at an emergency summit Thursday in Brussels. Many expect E.U. members to drum up a new aid package for Greece. Worries about Europe's debt crisis have plagued markets for months. The results of stress tests on European banks released last week failed to calm fears that the crisis could soon turn worse. The tests didn't take into account the possibility that most analysts are worried about: a default by Greece or Portugal, two of the countries most at risk.

E-Trade Financial Corp. gained 13.7 percent, more than any other stock in the S&P 500 index. E-Trade's largest shareholder urged the online discount brokerage to consider putting itself up for sale. In a letter to E-Trade disclosed in a regulatory filing, the money manager Citadel LLC called for changes to the company's board, saying E-Trade's "phenomenal franchise" had been "squandered."

Cleaning and pest-control services company Ecolab Inc. said it would buy the water treatment company Nalco Holding Co. for $5.4 billion. Nalco soared 24 percent while Ecolab dropped 7.3 percent.

Tuesday's rally turned the three major indexes positive for the month. The Dow and Nasdaq are now up more than 1 percent in July. The S&P 500 is up 0.4 percent.

Rising stocks outpaced falling ones by a small margin on the New York Stock Exchange. Trading volume was below average at 3.5 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Dow, S&P 500 index post big gains as European leaders agree on a rescue plan for Greece 

What's good for Europe is good for markets.

News that European leaders were drawing up a new rescue plan for Greece and taking a broader approach to dealing with Europe's debt troubles drove markets higher Thursday.

The Dow rose 152 points. Oil crossed above $100 for the first time since June. The euro rose against the dollar, and U.S. government bonds fell.

At an emergency meeting in Brussels, European officials agreed to give Greece a rescue package worth 109 billion euros ($155 billion). They also plan to lower interest rates and lengthen payback terms for loans to Greece, as well as those made to Ireland and Portugal.

European officials gave new powers to the region's bailout fund, allowing it to provide credit to struggling countries before a crisis flares up. German Chancellor Angela Merkel said European officials want to tackle the "root" of the debt crisis.

Worries about Europe's debt crisis have been hanging over financial markets for months. A default by Greece or another deeply indebted country could freeze debt markets and cause other damage to Europe's banking system.

The Dow Jones industrial average rose 152.50 points, or 1.2 percent, to close at 12,724.41.

The S&P 500 index rose 17.96 points, or 1.4 percent, to 1,343.80. The Nasdaq composite index rose 20.20 points, or 0.7 percent, to 2,834.43.

*The NYSE DOW NYSE DOW closed   HIGHER   +152.50   points  +1.21%   on Thursday July 21*
Sym .......Last .......Change..........
Dow 12,724.41 +152.50 +1.21% 
Nasdaq 2,834.43 +20.20 +0.72% 
S&P 500 1,343.80 +17.96 +1.35% 
30-yr Bond 4.3150% +0.0520 

NYSE Volume 4,903,190,000  (prior 3,801,132,000)
Nasdaq Volume 2,314,949,750  (prior 1,884,351,500)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,899.89 +46.07 +0.79% 
DAX 7,290.14 +68.78 +0.95% 
CAC 40 3,816.75 +62.15 +1.66% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,626.20 +7.80 +0.17% 
Shanghai Comp 2,765.89 -28.31 -1.01% 
Taiwan We... 8,717.14 +10.97 +0.13% 
Nikkei 225 10,010.39 +4.49 +0.04% 
Hang Seng 21,987.29 -16.40 -0.07% 
Straits Times 3,138.51 +11.98 +0.38% 

http://finance.yahoo.com/news/European-debt-deal-sends-apf-3545867339.html?x=0

*European debt deal sends markets higher

Dow, S&P 500 index post big gains as European leaders agree on a rescue plan for Greece *

Matthew Craft, AP Business Writer, On Thursday July 21, 2011, 4:55 pm EDT 
NEW YORK (AP) -- What's good for Europe is good for markets.

News that European leaders were drawing up a new rescue plan for Greece and taking a broader approach to dealing with Europe's debt troubles drove markets higher Thursday.

The Dow rose 152 points. Oil crossed above $100 for the first time since June. The euro rose against the dollar, and U.S. government bonds fell.

At an emergency meeting in Brussels, European officials agreed to give Greece a rescue package worth 109 billion euros ($155 billion). They also plan to lower interest rates and lengthen payback terms for loans to Greece, as well as those made to Ireland and Portugal.

European officials gave new powers to the region's bailout fund, allowing it to provide credit to struggling countries before a crisis flares up. German Chancellor Angela Merkel said European officials want to tackle the "root" of the debt crisis.

Worries about Europe's debt crisis have been hanging over financial markets for months. A default by Greece or another deeply indebted country could freeze debt markets and cause other damage to Europe's banking system.

The Dow Jones industrial average rose 152.50 points, or 1.2 percent, to close at 12,724.41.

The S&P 500 index rose 17.96 points, or 1.4 percent, to 1,343.80. The Nasdaq composite index rose 20.20 points, or 0.7 percent, to 2,834.43.

The yield on the 10-year Treasury jumped to 3.00 percent, up from 2.93 percent late Wednesday. The euro rose two cents to $1.44.

Europe's debt crisis and the debate over raising the U.S. government's borrowing limit have kept investors on edge over the past two weeks. The Dow and S&P have flip-flopped between gains and losses over the past eight trading days.

Markets have overreacted to signs of progress in the European debt crisis before.

In late June, stocks soared when French banks agreed to accept slower repayment of loans to Greece. Markets rose again two days later after Greek lawmakers passed an austerity bill, a necessary step before the country could receive a loan installment. Each rally has been short-lived.

But this deal is more comprehensive. "This is the first serious effort to address Greece's problems," said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott. LeBas said the 110 billion euro loan package arranged last year by the European Union and International Monetary Fund just piled more loans on top of the debt Greece already owed.

Bank stocks were broadly higher. A fix for Europe's debt trouble would remove a threat to banks. Morgan Stanley jumped 11 percent. The investment bank's quarterly loss was much smaller than analysts expected, thanks to an increase in trading revenues.

Of the 30 banks that have reported earnings so far, 24 have surpassed analysts' estimates, according to research by Keefe Bruyette & Woods.

Technology stocks trailed the rest of the market. Intel Corp. slipped 1 percent, the only company in the Dow average that dropped. The chip maker said it expects weaker PC sales for the rest of the year as people and companies choose to buy tablet computers instead.

Express Scripts said it would buy Medco Health Solutions for $29.1 billion. The merger would combine the largest U.S. pharmacy benefits managers. Medco's stock rose 14 percent and Express Scripts gained 5 percent.

Stronger earnings pushed the stocks of Union Pacific Corp. and Philip Morris International up more than 4 percent. The cigarette maker also increased its full-year earnings forecast. Union Pacific's profit increased 10 percent thanks to higher shipping prices and a pickup in the number of carloads it carries.

Four stocks rose for every one that fell on the New York Stock Exchange. Volume was higher than average at 4.4 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

A big earnings miss from Caterpillar Friday wasn't enough to derail a rally that pushed the U.S. stock market up 2 percent for the week.

Caterpillar Inc. fell nearly 6 percent after the heavy equipment maker earned less than analysts were expecting last quarter, partly because of the earthquake and tsunami disaster in Japan. The company is seen as a bellwether for the global economy because it sells construction and mining machinery all over the world.

The weaker results from Caterpillar and a continuing deadlock over raising the U.S. borrowing limit capped the stock market's gains. Overseas markets rose after European leaders reached a deal late Thursday aimed at containing the region's debt crisis.

The Dow Jones industrial average fell 43.25 points, or 0.3 percent, to 12,681.16. Even with the decline, the Dow gained 1.6 percent for the week. It has finished three out of the last four weeks higher than where it started.

The broader Standard & Poor's 500 index gained 1.22, or 0.1 percent, to 1,345.02. It finished the week with a gain of 2.2 percent.

*The NYSE DOW NYSE DOW closed LOWER   -43.25   points  -0.34%    on Friday July 22*
Sym .......Last .......Change..........
Dow 12,681.16 -43.25 -0.34% 
Nasdaq 2,858.83 +24.40 +0.86% 
S&P 500 1,345.02 +1.22 +0.09% 
30-yr Bond 4.2600% -0.0550 

NYSE Volume 3,543,403,500  (prior 4,903,190,000)
Nasdaq Volume 1,674,379,250 (prior  2,314,949,750)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,935.02 +35.13 +0.60% 
DAX 7,326.39 +36.25 +0.50% 
CAC 40 3,842.70 +25.95 +0.68% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,674.10 +47.90 +1.04% 
Shanghai Comp 2,770.79 +4.90 +0.18% 
Taiwan We... 8,765.32 +48.18 +0.55% 
Nikkei 225 10,132.11 +121.72 +1.22% 
Hang Seng 22,444.80 +457.51 +2.08% 
Straits Times 3,182.95 +44.44 +1.42% 

http://finance.yahoo.com/news/Tech-earnings-help-stocks-end-apf-4027023988.html?x=0

*Tech earnings help stocks end week with solid gain

US stock market finishes week with 2 percent gain on strong earnings from Microsoft, others *

Daniel Wagner and David K. Randall, AP Business Writers, On Friday July 22, 2011, 5:01 pm EDT 

A big earnings miss from Caterpillar Friday wasn't enough to derail a rally that pushed the U.S. stock market up 2 percent for the week.

Caterpillar Inc. fell nearly 6 percent after the heavy equipment maker earned less than analysts were expecting last quarter, partly because of the earthquake and tsunami disaster in Japan. The company is seen as a bellwether for the global economy because it sells construction and mining machinery all over the world.

The weaker results from Caterpillar and a continuing deadlock over raising the U.S. borrowing limit capped the stock market's gains. Overseas markets rose after European leaders reached a deal late Thursday aimed at containing the region's debt crisis.

The Dow Jones industrial average fell 43.25 points, or 0.3 percent, to 12,681.16. Even with the decline, the Dow gained 1.6 percent for the week. It has finished three out of the last four weeks higher than where it started.

The broader Standard & Poor's 500 index gained 1.22, or 0.1 percent, to 1,345.02. It finished the week with a gain of 2.2 percent.

Energy, technology and consumer discretionary companies were the only three of the 10 industries tracked by the S&P 500 that rose. That was still enough to push the broad market index higher.

Consumer discretionary companies include retailers like Amazon Inc. and restaurant chains like McDonalds Corp. McDonald's rose 2 percent, the most of any stock in the Dow average, after its income and revenue came in higher than analysts were expecting due to strong sales in Europe.

Technology stocks rose broadly after Advanced Micro Devices Inc. reported strong second-quarter earnings and said its new computer graphics chip was selling well. The Nasdaq composite index rose 24.40 points, or 0.9 percent, to 2,858.83.

AMD jumped 19 percent. Flash memory card maker SanDisk Corp. rose 10 percent after its earnings rose sharply. Microsoft Corp. gained 1.6 percent after beating analyst's income estimates.

Oil services company Schlumberger Ltd. rose 3 percent after its profits increased on a pickup in drilling in North America.

Traders kept close watch on negotiations in Washington over a deal to raise the nation's debt ceiling ahead of an Aug. 2 deadline. The impasse has overshadowed an agreement in Europe Thursday to give Greece a second financial lifeline and broaden the powers of a regional bailout fund.

Concerns are spreading that the U.S. debt ceiling won't be raised before the deadline, said Brian Gendreau, market strategist for Cetera Financial Group. "But the background is a growing economy and fairly strong earnings news."

Strong earnings from Apple Inc., Coca-Cola Co. and IBM Corp. helped send stocks higher this week. The Dow gained 202 points on Tuesday, its biggest one-day jump of the year, after President Obama backed a proposal by six senators that would cut the country's debt by $3.7 trillion over the next decade and raise the nation's debt ceiling.

Rising and falling shares were about even on the New York Stock Exchange. Volume was lighter than average at 3.3 billion shares.

7643


----------



## bigdog

Source: http://finance.yahoo.com

The debt showdown in Washington is rattling the stock market again.

Stocks fell Monday after Republican and Democratic leaders offered competing proposals to avoid a catastrophic default on the U.S. government's debt.

Lawmakers hoped to reach a compromise on raising the country's borrowing limit late Sunday, but those talks stalled. President Barack Obama wants to raise revenues by letting tax cuts for wealthy Americans expire. Republicans have pushed for more spending cuts and have rejected higher taxes.

If an agreement is not reached by Aug. 2, the U.S. won't have enough cash to pay all its bills. That could have a huge impact on financial markets. The U.S. would likely lose its coveted triple-A credit rating. Interest rates would rise for millions of consumers. And stocks could fall the way they did during the 2008 financial crisis, analysts say.

Most traders expect the White House and Capitol Hill to come up with a last-minute deal. Yet there are still uncertainties about higher taxes or changes to government spending that could affect corporate profits. Investors also worry that the government may only come up with a short-term fix that could still trigger a credit rating downgrade.

"We're thinking this is going to be resolved," said Rob Lutts, president and chief investment officer of Cabot Money Management. "The question: Is it resolved from a standpoint of a long-term solution or a stop-gap measure?"

The Dow Jones industrial average fell 88.36 points, or 0.7 percent, to close at 12,592.80. The Dow had been down as many as 145 points earlier.

The Standard & Poor's 500 index fell 7.59, or 0.6 percent, to 1,337.43. The Nasdaq composite index fell 16.03, or 0.6 percent, to 2,842.80.

*The NYSE DOW NYSE DOW closed     LOWER   -88.36    points   -0.70%   on Monday July 25*
Sym .......Last .......Change..........
Dow 12,592.80 -88.36 -0.70% 
Nasdaq 2,842.80 -16.03 -0.56% 
S&P 500 1,337.43 -7.59 -0.56% 
30-yr Bond 4.3240% +0.0640 

NYSE Volume 3,608,772,500  (prior 3,543,403,500)
Nasdaq Volume 1,634,068,750  (prior  1,674,379,250)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,925.26 -9.76 -0.16% 
DAX 7,344.54 +18.15 +0.25% 
CAC 40 3,812.97 -29.73 -0.77% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,603.80 -70.30 -1.50% 
Shanghai Comp 2,688.75 -82.04 -2.96% 
Taiwan We... 8,683.51 -81.81 -0.93% 
Nikkei 225 10,050.01 -82.10 -0.81% 
Hang Seng 22,293.29 -151.51 -0.68% 
Straits Times 3,170.09 -12.86 -0.40% 

http://finance.yahoo.com/news/Impasse-over-US-debt-limit-apf-1503618579.html?x=0

*Impasse over US debt limit sends stocks lower

Stocks slump after lawmakers fail to agree on a plan to raise the US debt limit *

Chip Cutter, AP Business Writer, On Monday July 25, 2011, 5:42 pm EDT 

NEW YORK (AP) -- The debt showdown in Washington is rattling the stock market again.

Stocks fell Monday after Republican and Democratic leaders offered competing proposals to avoid a catastrophic default on the U.S. government's debt.

Lawmakers hoped to reach a compromise on raising the country's borrowing limit late Sunday, but those talks stalled. President Barack Obama wants to raise revenues by letting tax cuts for wealthy Americans expire. Republicans have pushed for more spending cuts and have rejected higher taxes.

If an agreement is not reached by Aug. 2, the U.S. won't have enough cash to pay all its bills. That could have a huge impact on financial markets. The U.S. would likely lose its coveted triple-A credit rating. Interest rates would rise for millions of consumers. And stocks could fall the way they did during the 2008 financial crisis, analysts say.

Most traders expect the White House and Capitol Hill to come up with a last-minute deal. Yet there are still uncertainties about higher taxes or changes to government spending that could affect corporate profits. Investors also worry that the government may only come up with a short-term fix that could still trigger a credit rating downgrade.

"We're thinking this is going to be resolved," said Rob Lutts, president and chief investment officer of Cabot Money Management. "The question: Is it resolved from a standpoint of a long-term solution or a stop-gap measure?"

The Dow Jones industrial average fell 88.36 points, or 0.7 percent, to close at 12,592.80. The Dow had been down as many as 145 points earlier.

The Standard & Poor's 500 index fell 7.59, or 0.6 percent, to 1,337.43. The Nasdaq composite index fell 16.03, or 0.6 percent, to 2,842.80.

Stock trading has varied widely in July because of concerns over debt problems in the U.S. and Europe. Prior to Monday, the Dow had alternated between gains and losses over the previous nine days. The VIX, a measure of volatility in U.S. stock prices, has risen 16 percent in July.

Many investors are reluctant to buy stocks because of concerns over the budget impasse in Washington. Trading volume, or the number of shares bought and sold on a given day, has fallen 22 percent in July on the New York Stock Exchange compared with the same month a year ago, according to FactSet. If that continues, July will have the lowest average daily volume since December 2007.

Some investors have turned to gold and other precious metals as a place to park money while the U.S. and European debt problems get sorted out. Gold rose $10.70 to $1,612.20 an ounce Monday, while silver rose 24 cents to $40.36 an ounce. Gold has risen 14 percent this year, while silver is up 31 percent.

Even as debt troubles continue in the U.S. and Europe, U.S. companies have been reporting higher profits. David Kelly, chief market strategist at J.P. Morgan Funds, wrote in a note to clients that the per-share earnings of companies in the S&P 500 index are expected to rise to a record in the second quarter. If that happens, it would surpass the previous record set in the second quarter of 2007.

"Corporate America has done very well," said Randy Bateman, chief investment officer at Huntington Asset Advisors. "People are looking at these earnings as good indications that there's value in stocks."

Apple Inc. briefly rose to $400 Monday, about a week after the company reported record earnings and revenue on the popularity of its iPhone and iPad. It closed up about 1 percent at $398.50.

After the market closed, Netflix Inc.'s stock fell 8 percent as the DVD rental company issued a third-quarter revenue forecast that was below analysts' estimates. Netflix is bracing for its subscriber growth to slow after it raised prices by as much as 60 percent earlier this month.

E-Trade Financial Corp. rose 6 percent, the most of any company in the S&P 500, after The Wall Street Journal reported that larger rival TD Ameritrade is considering a bid for the company. E-Trade's largest shareholder also called on E-Trade to hold a special meeting to consider selling the company.

Lorillard Inc. fell 4 percent. The maker of Newport cigarettes cautioned that it may not be able to sustain its strong earnings growth in the second half of the year.

Tenet Healthcare Corp. fell 4 percent after earnings at its competitor, the hospital chain HCA Inc., were far weaker than analysts expected as patients had fewer costly surgical procedures. HCA fell 19 percent.

Kimberly-Clark fell 2 percent after the maker of Kleenex tissues and Huggies diapers said its profit fell 18 percent because of higher prices for raw materials and a higher tax rate.

BlackBerry maker Research In Motion Ltd. fell 4 percent after the company said it would eliminate 2,000 jobs, or about 10 percent of its work force. The company has had several product delays and is facing tough competition from Apple's Inc.'s iPhone and smartphones that used Google Inc.'s Android operating system.

About four stocks fell for every one that rose on the New York Stock Exchange. Volume was relatively light at 3.3 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

A White House threat to veto legislation that would avert a debt default pushed stocks lower Tuesday.

Major indexes were already down for the day when the White House said it would object to a Republican plan in the House of Representatives that calls for raising the debt limit by $1 trillion. The plan would require the debt issue to be voted on again next year, something President Barack Obama does not want.

The stalemate over raising the country's borrowing limit has rattled investors. If an agreement is not reached by Aug. 2, the U.S. won't have enough cash to pay all its bills and could default on its debt.

Analysts say a U.S. default would have a devastating effect on financial markets. The U.S. would likely lose its triple-A credit rating, causing interest rates to soar. Stocks could plunge.

Paul Zemsky, chief investment officer of multi-asset strategies at ING Investment Management, said a default could also cause Americans to lose confidence in the economy, causing them to put off major purchases such as buying cars and homes.

"Anything that shakes confidence right now is just bad for the economy," Zemsky said. "And this is just a big confidence-shaker."

The Dow Jones industrial average fell 91.50 points, or 0.7 percent, to 12,501.30. The Dow was already down 40 points in afternoon trading and lost another 50 after the White House threatened to veto the House legislation. It was the Dow's third straight day of losses.

The Standard & Poor's 500 index fell 5.49 points, or 0.4 percent, to 1,331.94. Eight of the 10 company groups that make up the index fell. Only the technology and telecommunications sectors rose.

The Nasdaq composite fell 2.84, or 0.1 percent, to 2,839.96. Technology companies rose after Broadcom Corp. raised its revenue forecast for the third quarter on improving demand for its chips. Broadcom rose 9.4 percent, and rivals Advanced Micro Devices Inc. and Texas Instruments Inc. each edged up less than 1 percent.

*The NYSE DOW NYSE DOW closed      LOWER  -91.50    points  -0.73%   on Tuesday July 26*
Sym .......Last .......Change..........
Dow 12,501.30 -91.50 -0.73% 
Nasdaq 2,839.96 -2.84 -0.10% 
S&P 500 1,331.94 -5.49 -0.41% 
30-yr Bond 4.2770% -0.0470 

NYSE Volume 4,048,163,000  (prior 3,608,772,500)
Nasdaq Volume 1,759,016,375   (prior 1,634,068,750)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,929.73 +4.47 +0.08% 
DAX 7,349.45 +4.91 +0.07% CAC 40 3,787.88 -25.09 -0.66% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,646.30 +42.50 +0.92% 
Shanghai Comp 2,703.03 +14.28 +0.53% 
Taiwan We... 8,794.24 +110.73 +1.28% 
Nikkei 225 10,097.72 +47.71 +0.47% 
Hang Seng 22,572.08 +278.79 +1.25% 
Straits Times 3,186.57 +15.02 +0.47% 

http://finance.yahoo.com/news/White-House-veto-threat-on-apf-1916437841.html?x=0

*White House veto threat on debt sends stocks lower

Stocks fall as White House threatens to veto debt-limit legislation; 3M pushes Dow lower *

Chip Cutter, AP Business Writer, On Tuesday July 26, 2011, 5:10 pm EDT 

NEW YORK (AP) -- A White House threat to veto legislation that would avert a debt default pushed stocks lower Tuesday.

Major indexes were already down for the day when the White House said it would object to a Republican plan in the House of Representatives that calls for raising the debt limit by $1 trillion. The plan would require the debt issue to be voted on again next year, something President Barack Obama does not want.

The stalemate over raising the country's borrowing limit has rattled investors. If an agreement is not reached by Aug. 2, the U.S. won't have enough cash to pay all its bills and could default on its debt.

Analysts say a U.S. default would have a devastating effect on financial markets. The U.S. would likely lose its triple-A credit rating, causing interest rates to soar. Stocks could plunge.

Paul Zemsky, chief investment officer of multi-asset strategies at ING Investment Management, said a default could also cause Americans to lose confidence in the economy, causing them to put off major purchases such as buying cars and homes.

"Anything that shakes confidence right now is just bad for the economy," Zemsky said. "And this is just a big confidence-shaker."

The Dow Jones industrial average fell 91.50 points, or 0.7 percent, to 12,501.30. The Dow was already down 40 points in afternoon trading and lost another 50 after the White House threatened to veto the House legislation. It was the Dow's third straight day of losses.

The Standard & Poor's 500 index fell 5.49 points, or 0.4 percent, to 1,331.94. Eight of the 10 company groups that make up the index fell. Only the technology and telecommunications sectors rose.

The Nasdaq composite fell 2.84, or 0.1 percent, to 2,839.96. Technology companies rose after Broadcom Corp. raised its revenue forecast for the third quarter on improving demand for its chips. Broadcom rose 9.4 percent, and rivals Advanced Micro Devices Inc. and Texas Instruments Inc. each edged up less than 1 percent.

Amazon.com Inc. rose 6 percent in after-hours trading after the online retailer reported that its revenue jumped 51 percent. Its earnings and revenue were far higher than analysts were anticipating.

Strong earnings from Apple Inc., Microsoft Corp. and other major technology companies have made those stocks the market's best performers since the market hit a low in mid-June. The Nasdaq is up 8.2 percent since June 15, while the Dow is up 5.4 percent and the S&P 500 is up 5.6 percent.

Almost half of the Dow's decline came from 3M Co. The stock fell 5.4 percent, the most of the 30 companies that make up the Dow average. The industrial giant, which makes Scotch tape, medical equipment and many other products, said the disaster in Japan and sinking demand for LCD televisions hurt its results. The company makes a kind of film that is used in producing the flat-screen TVs. Since it makes so many kinds of products, investors often see 3M's results as an indicator of how the whole U.S. manufacturing industry is doing.

UPS Inc., the world's largest package delivery company, fell 3.3 percent after warning that the "uneven economic environment" in the U.S. could affect its results. Its main competitor, FedEx Corp., fell about 1 percent.

United States Steel Corp. also said it was seeing uneven economic conditions. The stock fell 8.3 percent after the company predicted that its earnings could fall in the third quarter.

AK Steel Holding Corp. fell 17.5 percent, the most of any company in the Standard & Poor's 500 index, after the company said it expects shipments to decline in the third quarter because of higher costs for raw materials.

Netflix Inc. fell 5.2 percent. The DVD rental and video streaming company's sales missed analysts' expectations late Monday. The company also said recent price changes could discourage some potential customers from subscribing.

About two stocks fell for every one that rose on the New York Stock Exchange. Volume was light at 3.7 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks plunged Wednesday as the U.S. edged closer to defaulting on its debt and the economy showed more signs of deteriorating. Major indexes gave up all of their gains for the month.

The Dow Jones industrial average fell 198.75 points, or 1.6 percent, to 12,302.55, its biggest one-day drop since early June. It has fallen for four days straight.

The S&P 500 fell 27.05 points, or 2 percent, to 1,304.89. The technology-focused Nasdaq composite index fell 75.17 points, or 2.6 percent, to 2,764.79, its worst day in five months.

The Dow is headed for its worst weekly decline in nearly a year and is now 4 percent below the 2011 high it reached on April 29. The S&P, which serves as a benchmark for most mutual funds, is also down 4 percent from its recent peak.

"As hours pass and the uncertainty builds, I think the market is starting to price in the potential that we might not have a solution by August 2," the deadline for raising the U.S. debt limit, said Channing Smith, managing director of Capital Advisors Inc. "Confidence in our political system is beginning to fade."

Nearly half of the Dow's losses came in the last two hours of trading, after the Federal Reserve released a survey showing that the economy deteriorated in much of the country this summer. The economy slowed in eight of the Fed's 12 regions because of weak home sales and a slowdown in manufacturing.

*The NYSE DOW NYSE DOW closed     LOWER    -198.75   points  -1.59%    on Wednesday July 27*
Sym .......Last .......Change..........
Dow 12,302.55 -198.75 -1.59% 
Nasdaq 2,764.79 -75.17 -2.65% 
S&P 500 1,304.89 -27.05 -2.03% 
30-yr Bond 4.2790% +0.0020 

NYSE Volume 5,145,324,500  (prior 4,048,163,000)
Nasdaq Volume 2,404,682,750  (prior 1,759,016,375)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,856.58 -73.15 -1.23% 
DAX 7,252.68 -96.77 -1.32% 
CAC 40 3,734.07 -53.81 -1.42% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,612.60 -33.70 -0.73% 
Shanghai Comp 2,723.49 +20.47 +0.76% 
Taiwan We... 8,817.49 +23.25 +0.26% 
Nikkei 225 10,047.19 -50.53 -0.50% 
Hang Seng 22,541.69 -30.39 -0.13% 
Straits Times 3,192.31 +5.74 +0.18% 

http://finance.yahoo.com/news/Stocks-fall-as-lawmakers-apf-3387373179.html?x=0

*Stocks fall as lawmakers remain at odds over debt

Stocks dip as lawmakers remain at standoff on raising US debt limit; Dow falls for fourth day *

Chip Cutter, AP Business Writer, On Wednesday July 27, 2011, 5:42 pm 

NEW YORK (AP) -- Stocks plunged Wednesday as the U.S. edged closer to defaulting on its debt and the economy showed more signs of deteriorating. Major indexes gave up all of their gains for the month.

The Dow Jones industrial average fell 198.75 points, or 1.6 percent, to 12,302.55, its biggest one-day drop since early June. It has fallen for four days straight.

The S&P 500 fell 27.05 points, or 2 percent, to 1,304.89. The technology-focused Nasdaq composite index fell 75.17 points, or 2.6 percent, to 2,764.79, its worst day in five months.

The Dow is headed for its worst weekly decline in nearly a year and is now 4 percent below the 2011 high it reached on April 29. The S&P, which serves as a benchmark for most mutual funds, is also down 4 percent from its recent peak.

"As hours pass and the uncertainty builds, I think the market is starting to price in the potential that we might not have a solution by August 2," the deadline for raising the U.S. debt limit, said Channing Smith, managing director of Capital Advisors Inc. "Confidence in our political system is beginning to fade."

Nearly half of the Dow's losses came in the last two hours of trading, after the Federal Reserve released a survey showing that the economy deteriorated in much of the country this summer. The economy slowed in eight of the Fed's 12 regions because of weak home sales and a slowdown in manufacturing.

The declines were broad. More than 10 stocks fell for every one that rose on the New York Stock Exchange, and all but two of the 30 stocks in the Dow average fell.

With no sign of a compromise in Washington, investors are becoming more fearful that the U.S. rating could be lowered. That would raise interest rates and slow down the already weak economy.

Small-company stocks fell more than the rest of the market. Small companies are more vulnerable to economic downturns since they make fewer products and usually have less cash on hand than large companies.

With the deadline for a debt deal just six days away, investors are selling the stocks they consider to be the riskiest. The Russell 2000 index, which tracks smaller U.S. companies, fell 3 percent, almost twice as much as the Dow.

Stocks have been falling overall since last Friday as an Aug. 2 deadline for raising the U.S. borrowing limit approaches. With no sign of a compromise between Republicans and Democrats in Washington, investors are becoming more fearful that the U.S.'s triple-A credit rating could be lowered or that the country might default on its debt. Either event would raise interest rates across the board and slow down the already weak U.S. economy.

The Dow is down 3 percent this week. It is headed for its biggest weekly decline since August 2010. The S&P 500 is also down 3 percent, and the Russell 2000 is down 4.9 percent. The Dow and the S&P 500 are down about 1 percent for the month.

Some analysts fear that if the debt issue is not resolved stocks could fall as much as they did in the fall of 2008, when the House of Representatives voted down a bill to create the Troubled Asset Relief Program. The Dow plunged 778 points on Sept. 29 after the bill failed. Four days later, Congress passed the TARP bill and President George W. Bush quickly signed it into law. The Dow then jumped as much as 946 points in a week.

A decline in orders for manufactured goods also pushed stocks lower. The government said orders for durable goods fell 2.1 percent in June because of a drop in demand for commercial aircraft, automobiles and heavy machinery. Manufacturing has been disrupted this year by parts shortages from Japan and higher energy prices.

Earnings reports were mixed. Amazon.com Inc. rose 3.9 percent after the online retailer reported that its earnings and revenue were far higher than analysts were expecting.

Juniper Networks Inc. plunged 20.9 percent, the most of any company in the S&P 500, after the computer networking equipment maker issued an earnings forecast that was lower than many analysts expected.

Dunkin' Brands Group Inc. shot up 46.6 percent to $27.85 on the company's first day on the Nasdaq market. The parent of Dunkin' Donuts and the Baskin-Robbins ice cream chain went public to help pay down its debt.


----------



## bigdog

Source: http://finance.yahoo.com

A late sell-off wiped out the stock market's gains Thursday as the stalemate over raising the country's debt limit continued.

The market had been up for much of the day after an unexpected decrease in new applications for unemployment benefits. Stocks sank in the last half-hour of trading after Senate Majority Leader Harry Reid said that a bill to end the stalemate, proposed in the House of Representatives, would fail if it reached the Senate.

"That gave a catalyst for selling," said Quincy Krosby, market strategist at Prudential Financial.

The Dow has fallen five straight days because of worries that the U.S. might default on its debt if Congress doesn't raise the country's borrowing limit. It's down more than 484 points, or 3.8 percent. Just five days remain until the Treasury Department says the government won't have enough money to cover all of its bills.

Even if the U.S. doesn't default, investors worry that the country might lose its triple-A credit rating. That could raise interest rates and possibly slow the U.S. economy, which is still recovering from the worst recession in decades.

"We're running out of time," said Phil Dow, director of equity strategy at RBC Wealth Management in Minneapolis. "It's getting scary."

The chief executives of several of the country's largest banks sent a letter to The White House and to Congress urging a quick resolution to the debt limit debate. Bank of America Corp.'s Brian Moynihan, JPMorgan Chase & Co.'s Jamie Dimon, and Goldman Sachs Group Inc.'s Lloyd Blankfein and others warned on Thursday that the consequences on not acting would be grave for the economy, the job market, and for America's global economic leadership.

The Dow Jones industrial average fell 62.44 points, or 0.5 percent, to close at 12,240.11. The index had been up as many as 82 points earlier in the day.

The Standard & Poor's 500 fell 4.22, or 0.3 percent, to close at 1,300.67. The S&P 500 has four straight days. The Nasdaq composite index was up 1.46, or 0.1 percent, to 2,766.25.

*The NYSE DOW NYSE DOW closed     LOWER  -62.44    points   -0.51%    on Thursday July 28*
Sym .......Last .......Change..........
Dow 12,240.11 -62.44 -0.51% 
Nasdaq 2,766.25 +1.46 +0.05% 
S&P 500 1,300.67 -4.22 -0.32% 
30-yr Bond 4.2570% -0.0220 

NYSE Volume 4,957,269,500  (prior 5,145,324,500)
Nasdaq Volume 2,105,143,250  (prior 2,404,682,750)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,873.21 +16.63 +0.28% 
DAX 7,190.06 -62.62 -0.86% 
CAC 40 3,712.66 -21.41 -0.57% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,539.20 -73.40 -1.59% 
Shanghai Comp 2,708.78 -14.71 -0.54% 
Taiwan We... 8,767.20 -50.29 -0.57% 
Nikkei 225 9,901.35 -145.84 -1.45% 
Hang Seng 22,570.74 +29.05 +0.13% 
Straits Times 3,199.69 +6.15 +0.19% 

http://finance.yahoo.com/news/Stock...9.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks sink as debt limit stalemate continues

Late sell-off wipes out a stock rally; House bill to raise borrowing limit is doomed in Senate *

Chip Cutter, AP Business Writer, On Thursday July 28, 2011, 6:34 pm EDT 

NEW YORK (AP) -- A late sell-off wiped out the stock market's gains Thursday as the stalemate over raising the country's debt limit continued.

The market had been up for much of the day after an unexpected decrease in new applications for unemployment benefits. Stocks sank in the last half-hour of trading after Senate Majority Leader Harry Reid said that a bill to end the stalemate, proposed in the House of Representatives, would fail if it reached the Senate.

"That gave a catalyst for selling," said Quincy Krosby, market strategist at Prudential Financial.

The Dow has fallen five straight days because of worries that the U.S. might default on its debt if Congress doesn't raise the country's borrowing limit. It's down more than 484 points, or 3.8 percent. Just five days remain until the Treasury Department says the government won't have enough money to cover all of its bills.

Even if the U.S. doesn't default, investors worry that the country might lose its triple-A credit rating. That could raise interest rates and possibly slow the U.S. economy, which is still recovering from the worst recession in decades.

"We're running out of time," said Phil Dow, director of equity strategy at RBC Wealth Management in Minneapolis. "It's getting scary."

The chief executives of several of the country's largest banks sent a letter to The White House and to Congress urging a quick resolution to the debt limit debate. Bank of America Corp.'s Brian Moynihan, JPMorgan Chase & Co.'s Jamie Dimon, and Goldman Sachs Group Inc.'s Lloyd Blankfein and others warned on Thursday that the consequences on not acting would be grave for the economy, the job market, and for America's global economic leadership.

The Dow Jones industrial average fell 62.44 points, or 0.5 percent, to close at 12,240.11. The index had been up as many as 82 points earlier in the day.

The Standard & Poor's 500 fell 4.22, or 0.3 percent, to close at 1,300.67. The S&P 500 has four straight days. The Nasdaq composite index was up 1.46, or 0.1 percent, to 2,766.25.

The price of gold, which tends to rise when investors are fearful of economic disruptions, fell $1.70 to $1,613.40 an ounce. Gold is up $100 an ounce in the last two weeks and nearly $200 an ounce since the beginning of the year, when it traded at $1,422 an ounce. When gold prices are high, experts say it's a good indicator that people are reluctant to invest in other markets.

The dollar rose against other currencies. Treasury prices were also up slightly.

Markets declined less on Thursday than they did earlier in the week. That's partly because the government reported that first-time applications for unemployment benefits fell to 398,000 last week, the fewest in four months. Economists had expected 415,000 first-time applications for unemployment benefits. And any figure below 400,000 is typically associated with job growth.

Technology stocks rose after LSI Corp., which makes storage and networking chips, forecast revenues that were higher than investors were expecting. Its stock gained 14.1 percent, the most in the S&P 500.

Bristol-Myers Squibb Co. rose 1.5 percent after the drugmaker reported earnings that were better than analysts anticipated. The company also raised its earnings forecast for 2011.

Exxon Mobil Corp. fell 2.2 percent after its earnings came in below analysts' estimates.

Akamai Technologies Inc. fell 19.1 percent, the most in the S&P 500 index, after the online streaming company's earnings were lower than analysts had expected. Sprint Nextel Corp. fell 15.9 percent. The nation's No. 3 wireless carrier said its loss widened in the second quarter, partly because of a tax expense and investment losses.

The Dow is down 3.5 percent for the week and is headed for its worst week since last July. The S&P 500 is down 3.3 percent for the week, while the Nasdaq is down 3.2 percent. Still, the Dow is up 5.7 percent for the year, the S&P is up 3.4 percent for the year and the Nasdaq is up 4.3 percent for the year.

Nearly two stocks fell for every one that rose on the New York Stock Exchange. Volume was relatively heavy at 4.4 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

The word of the day in financial markets: Anxious.

On Friday, traders did something they rarely do: they sold what are considered to be the world's safest short-term investments. Traders typically buy short term U.S. Treasurys on Friday because they want their money in a safe place in case something happens over the weekend to rattle markets.

But this week, they instead bought longer-duration bonds as concerns grew that the federal government may not be able to pay all of its bills next month. Yields on bonds due in one month rose higher than those due in six months. The higher the yield, the higher the implied risk of the bond.

Analysts say it's a clear sign a short-term default is a growing possibility.

The sell-off in short-term Treasurys shows that "the market is very concerned," said Thomas Tzitzouris, head of fixed income research at Strategas Research Partners. "It's not panic, but we are pre-positioning in case something goes wrong over the weekend."

Stocks continued a weeklong slide after a dismal report on economic growth added to the anxiety. Major indexes erased some of their early losses on Friday after President Barack Obama said there were many paths to a compromise on raising the debt limit.

The Dow Jones industrial average fell 96.87 points, or 0.8 percent, to close at 12,143.24

The combination of bad economic news and growing worries about a possible debt default was evident in nearly every measure of investor confidence:

-- The Dow Jones industrial average had a sixth straight day of losses, a string that has erased 581.17 points.

*The NYSE DOW NYSE DOW closed    LOWER  -96.87      points -0.79%    on Friday July 29*
Sym .......Last .......Change..........
Dow 12,143.24 -96.87 -0.79% 
Nasdaq 2,756.38 -9.87 -0.36% 
S&P 500 1,292.28 -8.39 -0.65% 
30-yr Bond 4.1320% -0.1250 

NYSE Volume 5,159,192,000   (prior 4,957,269,500)
Nasdaq Volume 2,333,920,000  (prior 2,105,143,250)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,815.19 -58.02 -0.99% 
DAX 7,158.77 -31.29 -0.44% 
CAC 40 3,671.28 -41.38 -1.11% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,500.50 -38.70 -0.85% 
Shanghai Comp 2,701.73 -7.05 -0.26% 
Taiwan We... 8,644.18 -123.02 -1.40% 
Nikkei 225 9,833.03 -68.32 -0.69% 
Hang Seng 22,440.25 -130.49 -0.58% 
Straits Times 3,189.26 -0.59 -0.02% 

http://finance.yahoo.com/news/Marke...1.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Markets on edge as debt limit debate drags on

Debt drama and weak US economic growth keep market volatile, lead to short-term bond sell-off *

Daniel Wagner, David K. Randall and Jonathan Fahey, AP Business Writers, On Friday July 29, 2011, 4:53 pm EDT 

The word of the day in financial markets: Anxious.

On Friday, traders did something they rarely do: they sold what are considered to be the world's safest short-term investments. Traders typically buy short term U.S. Treasurys on Friday because they want their money in a safe place in case something happens over the weekend to rattle markets.

But this week, they instead bought longer-duration bonds as concerns grew that the federal government may not be able to pay all of its bills next month. Yields on bonds due in one month rose higher than those due in six months. The higher the yield, the higher the implied risk of the bond.

Analysts say it's a clear sign a short-term default is a growing possibility.

The sell-off in short-term Treasurys shows that "the market is very concerned," said Thomas Tzitzouris, head of fixed income research at Strategas Research Partners. "It's not panic, but we are pre-positioning in case something goes wrong over the weekend."

Stocks continued a weeklong slide after a dismal report on economic growth added to the anxiety. Major indexes erased some of their early losses on Friday after President Barack Obama said there were many paths to a compromise on raising the debt limit.

The Dow Jones industrial average fell 96.87 points, or 0.8 percent, to close at 12,143.24

The combination of bad economic news and growing worries about a possible debt default was evident in nearly every measure of investor confidence:

-- The Dow Jones industrial average had a sixth straight day of losses, a string that has erased 581.17 points.

-- All 10 industry groups in the S&P 500 stock index fell.

-- Gold rose nearly 1 percent to $1,631 an ounce.

-- A measure of stock market volatility, the VIX, rose 6 percent.

-- The cost to protect against a U.S. default within the next year reached a record high. The cost to insure Treasurys for one year jumped 54 percent this week.

Longer-term government bond prices rose as traders saw them as less likely to be affected by short-term positioning in Washington. The yield on the 10-year Treasury bond fell to 2.79 percent, its lowest level of the year. Bond prices move in the opposite direction of their yields.

The Standard and Poor's 500 index lost 8.39 points, or 0.6 percent, to 1,292.28. The Nasdaq composite fell 9.87, or 0.4 percent, to 2,756.38

If Congress fails to act by Tuesday, the U.S. may not be able to pay all its financial obligations. That includes interest payments on bonds and the salaries of federal employees. A default on U.S. Treasury debt could wreak havoc on financial markets and the economy.

Many analysts continue to believe a deal to raise the country's borrowing limit will be made before the Aug. 2 deadline.

"It seems unlikely that Congress would choose financial Armageddon over some type of compromise," said Joseph S. Tanious, a market strategist with J.P. Morgan Asset Management.

Some argue that the market's recent downturn is overshadowing strong corporate earnings reports. They also say the market is ignoring other reasons to believe the economy will bounce back in the second half of the year.

"It's a very confusing time, but once this cloud lifts, market participants are going to turn around and say, `This isn't so bad.'," said John Canally, an economist with LPL Financial. "It's definitely going to be a rocky couple of days."

The government reported early Friday that economic growth slowed in the first half of the year to its weakest pace since the recession ended two years ago.

Some investors said that the economic report wasn't as bad as it first appeared. Phil Orlando, chief strategist at Federated Investors, said that the report was a "rearview mirror view of an economy that was struggling with the impact of the earthquake in Japan and high commodity prices." Orlando said he believes that rising corporate profits and a rebound in the auto industry will push stocks higher for the rest of the year.

Merck fell 2 percent even after the company reported strong earnings. Chevron dropped 1 percent despite better second-quarter earnings.

Housewares maker Newell Rubbermaid Inc. jumped 8 percent after reporting that its profit rose 13 percent as strong demand from emerging markets offset weakness in the U.S. Expedia Inc. gained 9 percent after the travel website operator said its income rose more than analysts had expected. It credited an increase in the number of travel bookings and higher prices for plane tickets and hotel rooms.

The Dow is still up 4.9 percent for the year, but it is down 667.3 points, or 5.2 percent, from its highest point of the year, which it reached on April 29.

Small-company stocks fared worse than the rest of the market as investors sold stocks they consider to be the most risky. The Russell 2000, which measures the smallest stocks on the market, fell 5.3 percent this week, worse than 3.9 percent decline in the S&P 500 index.

Two stocks fell for every one that rose on the New York Stock Exchange. Consolidated volume was above average at 4.5 billion shares.

8109


----------



## bigdog

Source: http://finance.yahoo.com

Leave it to the economy to stop a stock market rally.

The Dow started the day up nearly 140 points after President Barack Obama and congressional leaders said Sunday that a deal had been reached to raise the nation's borrowing limit and avoid a possible debt default.

But another sign that the economy has slowed erased those early gains and took the Dow down as many as 145 points by midday.

The Dow Jones industrial average ended the day with a loss of 10.75 points. It was the seventh day of declines for the blue-chip index.

Many investors remained concerned about the direction of the economy. A report from the Institute of Supply Management said that U.S. manufacturing barely grew last month. And on Friday, the government said that so far this year the economy has grown at its slowest pace since the recession ended in June 2009.

The manufacturing index was the first major economic report released in July. Analysts had expected it to show that the economy was expanding.

"This was a shock to the market," said Phil Orlando, chief strategist at Federated Investors. "It clearly offset the emotional strength that we saw in the open from this tentative budget compromise."

Federal Reserve Chairman Ben Bernanke and many economists have said that the U.S. economy would gain momentum in the second half of the year. But the manufacturing report, sluggish overall growth and concern about spending cuts included in the debt deal have cast doubt on that prediction.

The Dow fell 0.1 percent, to 12,132.49. The broader Standard and Poor's 500 index lost 5.34, or 0.4 percent, to 1,286.94. The Nasdaq composite fell 11.77, or 0.4 percent, to 2,744.61.

*The NYSE DOW NYSE DOW closed   LOWER   -10.75    points   -0.09%  on Monday August 1*
Sym .......Last .......Change..........
Dow 12,132.49 -10.75 -0.09% 
Nasdaq 2,744.61 -11.77 -0.43% 
S&P 500 1,286.94 -5.34 -0.41% 
30-yr Bond 4.0710% -0.0610 

NYSE Volume 5,040,458,000  (prior 5,159,192,000)
Nasdaq Volume 2,242,922,250  (prior  2,333,920,000)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,774.43 -40.76 -0.70% 
DAX 6,953.98 -204.79 -2.86% 
CAC 40 3,588.05 -83.23 -2.27% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,573.10 +72.60 +1.61% 
Shanghai Comp 2,703.78 +2.05 +0.08% 
Taiwan We... 8,701.38 +57.20 +0.66% 
Nikkei 225 9,965.01 +131.98 +1.34% 
Hang Seng 22,663.37 +223.12 +0.99% 
Straits Times 3,215.27 +26.01 +0.82% 

http://finance.yahoo.com/news/Concerns-about-the-economy-apf-304350151.html?x=0

*Concerns about the economy end early Dow rally

An early stock rally fades quickly after another sign of weakness in the economy *

David K. Randall, AP Business Writer, On Monday August 1, 2011, 5:30 pm 

NEW YORK (AP) -- Leave it to the economy to stop a stock market rally.

The Dow started the day up nearly 140 points after President Barack Obama and congressional leaders said Sunday that a deal had been reached to raise the nation's borrowing limit and avoid a possible debt default.

But another sign that the economy has slowed erased those early gains and took the Dow down as many as 145 points by midday.

The Dow Jones industrial average ended the day with a loss of 10.75 points. It was the seventh day of declines for the blue-chip index.

Many investors remained concerned about the direction of the economy. A report from the Institute of Supply Management said that U.S. manufacturing barely grew last month. And on Friday, the government said that so far this year the economy has grown at its slowest pace since the recession ended in June 2009.

The manufacturing index was the first major economic report released in July. Analysts had expected it to show that the economy was expanding.

"This was a shock to the market," said Phil Orlando, chief strategist at Federated Investors. "It clearly offset the emotional strength that we saw in the open from this tentative budget compromise."

Federal Reserve Chairman Ben Bernanke and many economists have said that the U.S. economy would gain momentum in the second half of the year. But the manufacturing report, sluggish overall growth and concern about spending cuts included in the debt deal have cast doubt on that prediction.

The Dow fell 0.1 percent, to 12,132.49. The broader Standard and Poor's 500 index lost 5.34, or 0.4 percent, to 1,286.94. The Nasdaq composite fell 11.77, or 0.4 percent, to 2,744.61.

The S&P index traded below its 200-day moving average of 1,280. Many traders use moving averages as benchmarks for when to buy and sell. Orlando said the S&P could fall to 1,250 or lower over the next few days as investors begin to doubt the strength of the economy.

Health care stocks fell nearly 2 percent, the most of the 10 company groups in the S&P 500 index. United HealthGroup Inc., Aetna Inc., and St. Jude Medical Inc. fell more than 2.5 percent after the government said it plans to cut Medicare reimbursement rates 11 percent. The cuts are unrelated to the debt deal.

Bond yields fell to the lowest level of the year as investors moved into safer assets. The yield on the 10-year Treasury note fell to 2.75 percent from 2.80 percent late Friday.

The manufacturing report led to a worldwide pullback from riskier assets. The Euro Stoxx 50, an index that tracks blue chip companies in countries that use the euro, fell nearly 3 percent. Oil futures dropped 1 percent to just below $95 a barrel. And gold made up its early losses to remain near $1,625 an ounce.

The latest signs of weakness in the U.S. economy also pushed the dollar lower against the Japanese yen and the Swiss franc, two currencies that traders see as relatively safe bets. The dollar touched another record low against the franc, and reached a post-World War II low against the yen.

Before the ISM report was released, stocks rose sharply largely because President Obama and Congressional leaders announced Sunday that they had agreed on a deal to raise the nation's borrowing limit ahead of Tuesday's deadline. Investors have been worried that the U.S. might default if a deal wasn't reached. The federal government would be unable to pay all of its bills after Tuesday if a law is not signed. Among them: interest payments on Treasury bonds, salaries of federal employees and Social Security checks to retirees.

The debt agreement would raise the U.S. debt limit by $2.1 trillion. It would also cut at more than $2 trillion in federal spending over 10 years. Under the bill, a new joint committee of Congress would recommend deficit reductions by the end of November that would be put to a vote by Congress by year's end.

But a vote on the measure had not been scheduled in the House or the Senate by the time the market closed.

Many important details about spending cuts and possible tax increases were to be decided by the new committee, which means it could be months before there's clarity on how the deficit will be reduced.

"The debt agreement was a step in the right direction but probably a small step," said Bob Gelfond, the head of MQS Asset Management, a hedge fund based in New York City.

Others remained concerned that the bill would not cut the deficit enough to prevent a downgrade to the U.S. government's top credit rating. Credit rating agencies Standard and Poor's and Moody's declined to comment about the bill's possible impact on their decision-making process.

"This agreement didn't resolve any of the fundamental differences in the direction of spending and revenues that would address our long-term issues," said Kate Warne, the investment strategist at Edward Jones.

Rising and failing shares were roughly even on the New York Stock Exchange. Volume was higher than average at 4.4 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Dow, S&P See Longest Losing Streak Since 2008; S&P Negative for the Year

A sell-off is erasing all of the year's gains in the stock market.

The Standard & Poor's 500 lost 2.6 percent Tuesday as investors grew increasingly concerned about the economy. The benchmark index is now at its lowest point of the year.

A report that consumers cut their spending in June for the first time in two years added to a series of weak economic indicators have pushed stocks lower for seven straight days.

The S&P is closing down 33 points to 1,254. The Dow Jones industrial average is down 266, or 2.2 percent, to 11,867. The Nasdaq is down 75, or 2.8 percent, to 2,669.

Four stocks fell for every one that rose on the New York Stock Exchange. Volume was higher than average at 5.3 billion shares.

*The NYSE DOW NYSE DOW closed   LOWER  -265.87    points  -2.19%    on Tuesday August 2*
Sym .......Last .......Change..........
Dow 11,866.62 -265.87 -2.19% 
Nasdaq 2,669.24 -75.37 -2.75% 
S&P 500 1,254.05 -32.89 -2.56% 
30-yr Bond 3.9190% -0.1520 

NYSE Volume 5,897,468,500  (prior 5,040,458,000)
Nasdaq Volume 2,393,609,250  (prior 2,242,922,250)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,718.39 -56.04 -0.97% 
DAX 6,796.75 -157.23 -2.26% 
CAC 40 3,522.79 -65.26 -1.82% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,510.30 -62.80 -1.37% 
Shanghai Comp 2,679.26 -24.52 -0.91% 
Taiwan We... 8,584.72 -116.66 -1.34% 
Nikkei 225 9,844.59 -120.42 -1.21% 
Hang Seng 22,421.46 -241.91 -1.07% 
Straits Times 3,177.35 -37.92 -1.18% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks now down for year as economic concerns grow

Stocks retreat, with S&P down 2.6 percent as weak economic signs overshadow debt bill passage* 

David K. Randall, AP Business Writer, On Tuesday August 2, 2011, 4:13 pm 

NEW YORK (AP) -- A sell-off is erasing all of the year's gains in the stock market.

The Standard & Poor's 500 lost 2.6 percent Tuesday as investors grew increasingly concerned about the economy. The benchmark index is now at its lowest point of the year.

A report that consumers cut their spending in June for the first time in two years added to a series of weak economic indicators have pushed stocks lower for seven straight days.

The S&P is closing down 33 points to 1,254. The Dow Jones industrial average is down 266, or 2.2 percent, to 11,867. The Nasdaq is down 75, or 2.8 percent, to 2,669.

Four stocks fell for every one that rose on the New York Stock Exchange. Volume was higher than average at 5.3 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stock indexes came back from deep losses in the morning and ended Wednesday with small gains. The Dow Jones industrial average avoided its longest losing streak since Jimmy Carter was president.

The Dow rose 30 points -- after being down 166 -- to break an eight-day losing streak. Nine days would have been the longest since February 1978. The S&P 500 index rose 6 points and broke a seven-day streak.

Markets have fallen recently because investors are becoming increasingly worried about the U.S. economy.

Shortly after the market opened, the Institute of Supply Management said its index measuring the service sector of the U.S. economy grew in July at the weakest pace in 17 months. Economists had expected a slight increase.

The report was the latest sign over the last week that the economy may be slowing. Consumer cut their spending in June for the first time in nearly two years; manufacturing slowed, and the government said that in the first half of the year the economy grew at its slowest pace since the recession ended in June 2009.

"There has been too much at the same time for investors to hang in there and you're starting to see some element of panic finally showing up," said Andrew Goldberg, U.S. market strategist at JP Morgan Funds.

The Dow, the Standard & Poor's 500 index and Nasdaq were down more than 1 percent earlier in the day, but edged higher throughout the afternoon.

The Dow Jones industrial average finished with a gain of 0.3 percent, to 11,896.44. The S&P 500 index rose 6.29, or 0.5 percent, to 1,260.34. The S&P had been down for seven straight days through Tuesday. It is up 0.2 percent for the year after being down 0.3 for the year on Tuesday.

The Nasdaq composite added 23.83, or 0.9 percent, to 2,693.07.

*The NYSE DOW NYSE DOW closed   HIGHER  +29.82  points  +0.25%    on Wednesday August 3*
Sym .......Last .......Change..........
Dow 11,896.44 +29.82 +0.25% 
Nasdaq 2,693.07 +23.83 +0.89% 
S&P 500 1,260.34 +6.29 +0.50% 
30-yr Bond 3.8730% -0.0460 

NYSE Volume 6,487,507,000  (prior 5,897,468,500)
Nasdaq Volume 2,637,165,250   (prior 2,393,609,250)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,584.51 -133.88 -2.34% 
DAX 6,640.59 -156.16 -2.30% 
CAC 40 3,454.94 -67.85 -1.93% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,408.30 -102.00 -2.26% 
Shanghai Comp 2,678.48 -0.77 -0.03% 
Taiwan We... 8,456.86 -127.86 -1.49% 
Nikkei 225 9,637.14 -207.45 -2.11% 
Hang Seng 21,992.72 -428.74 -1.91% 
Straits Times 3,130.34 -46.75 -1.47% 

http://finance.yahoo.com/news/Dow-e...3.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Dow edges higher, breaking an 8-day losing streak

Stocks close higher, erasing an early slide; Dow Jones average breaks an 8-day losing streak *

David K. Randall, AP Business Writer, On Wednesday August 3, 2011, 5:42 pm 

NEW YORK (AP) -- Stock indexes came back from deep losses in the morning and ended Wednesday with small gains. The Dow Jones industrial average avoided its longest losing streak since Jimmy Carter was president.

The Dow rose 30 points -- after being down 166 -- to break an eight-day losing streak. Nine days would have been the longest since February 1978. The S&P 500 index rose 6 points and broke a seven-day streak.

Markets have fallen recently because investors are becoming increasingly worried about the U.S. economy.

Shortly after the market opened, the Institute of Supply Management said its index measuring the service sector of the U.S. economy grew in July at the weakest pace in 17 months. Economists had expected a slight increase.

The report was the latest sign over the last week that the economy may be slowing. Consumer cut their spending in June for the first time in nearly two years; manufacturing slowed, and the government said that in the first half of the year the economy grew at its slowest pace since the recession ended in June 2009.

"There has been too much at the same time for investors to hang in there and you're starting to see some element of panic finally showing up," said Andrew Goldberg, U.S. market strategist at JP Morgan Funds.

The Dow, the Standard & Poor's 500 index and Nasdaq were down more than 1 percent earlier in the day, but edged higher throughout the afternoon.

The Dow Jones industrial average finished with a gain of 0.3 percent, to 11,896.44. The S&P 500 index rose 6.29, or 0.5 percent, to 1,260.34. The S&P had been down for seven straight days through Tuesday. It is up 0.2 percent for the year after being down 0.3 for the year on Tuesday.

The Nasdaq composite added 23.83, or 0.9 percent, to 2,693.07.

The broad S&P 500 index-- the index followed by most professional money managers and U.S. mutual funds -- rose after it hit a low for the year of 1,234. Some investors saw it as an opportunity to buy the S&P 500 index. As a whole, companies in the index are expected to have record profits this year.

Some of those gains might also be due to automatic buying triggered when an index reaches a certain level. Many traders use computer programs that buy or sell stocks once they break through their long-term averages.

"It seems like the early money was based on fear and the market climbed back as computer-program trading took over," said Mark Lamkin, the head of Lamkin Wealth Management in Louisville, Kentucky.

Lamkin said the stock market was in a "tug of war" between strong corporate earnings and a "horrible economic backdrop."

Coca-Cola led the Dow average higher with a gain of nearly 2 percent. Companies that depend most on an expanding economy in order to make profits had the steepest losses. Caterpillar Inc. fell 0.9 percent, the most of the 30 stocks in the Dow average, followed closely by Chevron Corp. and Boeing.

Along with the concerns about the U.S. economy, investors were also unnerved by a surge in bond yields to 14-year highs for Italy and Spain. High bond yields typically indicate that investors believe there is a greater chance that a country or corporation will be unable to make interest payments.

"We've been so focused inwardly because of the debt ceiling debate that we've ignored Europe over the last couple of weeks," said J.J. Kinahan, chief options strategist at T.D. Ameritrade. "We have problems, but if Italy falls the euro zone doesn't look sustainable."

Italy and Spain are the third and fourth largest economies in Europe, respectively.

The yield on the 10-year Treasury note fell to another low for the year of 2.56 percent, from 2.62 percent Tuesday, as investors moved money into assets that hold up better during economic downturns. Gold, another traditional safe haven, rose 1 percent to $1,666 an ounce.

Several large U.S. companies reported earnings before the market opened. MasterCard rose nearly 14 percent after the company beat analysts' estimates. Clorox fell 2 percent after the company said higher commodity costs were eating into its income. And CBS gained 1.6 percent after it said a deal with Netflix Inc. had lifted profits.

Payroll processor ADP said private companies added 114,000 jobs last month. The number was within Wall Street's forecasts, but still well below the rate of growth that signifies a healthy jobs market. ADP's employment figures do not always predict the government's broader employment report, which will be released Friday morning. Last month, for example, ADP reported that private employers added 157,000 jobs in June. The government later said that private companies added just 57,000 jobs.

Economists expect that 90,000 were created in the U.S. last month. That's fewer than the 125,000 jobs per month that are needed just to keep up with population growth. At least 250,000 jobs need to be created every month to substantially bring down the unemployment rate.

Analysts predict that the unemployment rate was 9.2 percent in July, unchanged from the month before.


----------



## Ubershrewd

The Dow is taking a hiding tonight; I'm not looking forward to waking up to tomorrow's local market..


----------



## notting

*Total Fear!!! That's a Good sign!!*

I'm really sorry if your over leveraged.  That could be hard.

There's "total fear" in the market right now, said Bob Doll, chief equity strategist at BlackRock.

Jean Claud Trichet looked like he was panicking re-euro.  Good.  Force them to act faster. 

The world continues! 

Where not all going to stop tomorrow and die. 

Commerce continues believe it or not!!

Most people are going to continue doing what they were doing a month ago when snp was peaking - A month ago!
ASX 200 is way beyond that.  Where in great shape.  Companies have loads of cash. 
We are going to have the buying opportunity of the century if S&P etc drop further.
I'm seriously considering refinancing my house!
But will not move till the macro environment restructures or speaks credibly about long climb out.
The Debt debate was brutal and beautifully timed. 
Have that debate when the market is peaking.  They did. Gives a bit more room.
They did not take the retarded Bush taxes cuts and the market hated it.
You can't build a business(or a country) by cutting and not improving income!!
ABC dears! 
Political cowards and traitors. (playing for their corrupted lobbyists and own seats instead of the country)
Oil needs to be below 75 for global growth in my opinion. 
That's the stimulus and the dead hand for emerging markets.
That's the best crystal ball we have.


----------



## bigdog

Source: http://finance.yahoo.com

*Gripped by fear of another recession, the financial markets suffered their worst day Thursday since the crisis of 2008. The Dow Jones industrial average fell more than 500 points, its ninth-steepest decline ever.

The sell-off wiped out the Dow's gains for 2011. It put the Dow and broader stock indexes into what investors call a correction -- down 10 percent from the highs of this spring.

"We are continuing to be bombarded by worries about the global economy," said Bill Stone, the chief investment strategist for PNC Financial.

The day was reminiscent of the wild swings that defined the markets during the crisis three years ago. Gold prices briefly hit a record high, oil fell an extraordinary $5 a barrel, and frightened investors were so desperate to get into some government bonds that they were willing accept almost no return on their money.

It was the most alarming day yet in the almost uninterrupted selling that has swept Wall Street for two weeks. Since July 21, the Dow has lost more than 1,300 points, or 10.5 percent of its value. It has closed lower nine of the 10 trading days since then.

For the day, the Dow closed down 512.76 points, at 11,383.68. It was the steepest point decline since Dec. 1, 2008*

*The NYSE DOW NYSE DOW closed      LOWER    -512.76   points -4.31%     on Thursday August 4*
Sym .......Last .......Change..........
Dow 11,383.68 -512.76 -4.31% 
Nasdaq 2,556.39 -136.68 -5.08% 
S&P 500 1,200.07 -60.27 -4.78% 
30-yr Bond 3.7220% -0.1510 

NYSE Volume 8,561,300,000 (prior  6,487,507,000)
Nasdaq Volume 3,327,884,750  (prior 2,637,165,250)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,393.14 -191.37 -3.43% 
DAX 6,414.76 -225.83 -3.40% 
CAC 40 3,320.35 -134.59 -3.90% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,352.90 -55.40 -1.26% 
Shanghai Comp 2,684.04 +5.55 +0.21% 
Taiwan We... 8,317.27 -139.59 -1.65% 
Nikkei 225 9,659.18 +22.04 +0.23% 
Hang Seng 21,884.74 -107.98 -0.49% 
Straits Times 3,107.01 -23.33 -0.75% 

http://finance.yahoo.com/news/Stocks-plunge-as-economic-apf-169769799.html?x=0

*Dow falls 512 in steepest decline since '08 crisis

Worst day for Wall Street since 2008 crisis: Dow falls 512 and investors flee for safety *

David K. Randall, AP Business Writer, On Thursday August 4, 2011, 5:07 pm 

NEW YORK (AP) -- Gripped by fear of another recession, the financial markets suffered their worst day Thursday since the crisis of 2008. The Dow Jones industrial average fell more than 500 points, its ninth-steepest decline ever.

The sell-off wiped out the Dow's gains for 2011. It put the Dow and broader stock indexes into what investors call a correction -- down 10 percent from the highs of this spring.

"We are continuing to be bombarded by worries about the global economy," said Bill Stone, the chief investment strategist for PNC Financial.

The day was reminiscent of the wild swings that defined the markets during the crisis three years ago. Gold prices briefly hit a record high, oil fell an extraordinary $5 a barrel, and frightened investors were so desperate to get into some government bonds that they were willing accept almost no return on their money.

It was the most alarming day yet in the almost uninterrupted selling that has swept Wall Street for two weeks. Since July 21, the Dow has lost more than 1,300 points, or 10.5 percent of its value. It has closed lower nine of the 10 trading days since then.

For the day, the Dow closed down 512.76 points, at 11,383.68. It was the steepest point decline since Dec. 1, 2008.

Thursday's decline was the ninth-worst ever by points for the Dow. In percentage terms, the decline of 4.3 percent does not rank among the worst. On Black Monday in 1987, for example, the market fell 22 percent.

Two weeks ago, investors appeared worried about the deadlocked negotiations in Washington over the debt ceiling. Almost immediately after that was solved, concerns about the economy took over, and the selling only accelerated.

On Thursday, growing fear about the weakening U.S. economy was joined by concern in Europe that the troubled economies of Italy and Spain might need help from the European Union.

The European Union has already given financial assistance to Greece and Ireland, two countries that have struggled to pay their debts. A financial rescue package for Italy or Spain might be more than the group of countries can handle.

Traders also unloaded stocks before Friday's release of the government's unemployment report for July, which is expected to show only weak job growth and perhaps a rise in the unemployment rate, which is 9.2 percent.

Together, they produced "a perfect storm of selling," said Ryan Larson, head of U.S. equity trading for RBC Global Asset Management.

Not long ago, Wall Street had mostly convinced itself that the U.S. economy would improve in the second half of the year. Gas prices were falling, and Japanese factories were resuming production after disruptions from the March earthquake.

Then one report after another began to show that the economy was much weaker than first thought.

Manufacturing is barely growing. The service sector, which covers about 90 percent of the American work force, is growing at the slowest rate in a year and a half. People spent less in June than in May, the first decline since September 2009.

And the overall economy is expanding at the slowest pace since the end of the Great Recession. It grew at an annual rate of less than 1 percent for the first six months of this year, raising the risk of another recession.

In an indication of how frightened investors are, Bank of New York Mellon said it would start charging large investors to hold their cash. The bank's clients include pension funds and large investment houses.

Mark Luschini, chief investment strategist for Janney Montgomery Scott, an investment firm in Philadelphia, said his clients saw the move from stocks into cash as "a parking lot to sort things out."

"With the scars of 2008 still fresh," he said, "some clients don't want to miss the change to pre-empt further damage should it come."

Other market indicators reinforced the risk-averse mood. Gold, which is seen as a safe investment when the stock market is turbulent, set a record price, $1,684.90 an ounce, before falling to finish the day at $1,659. Adjusted for inflation, gold is still far below its record high, reached in 1980.

The yield on the 10-year Treasury note fell to 2.42 percent, its lowest of the year, and the yield on the 2-year Treasury note hit its lowest ever, 0.265 percent. Bond yields fall when demand for bonds increases.

The yield on the one-month Treasury bill fell to almost nothing -- 0.008 percent. Investors were willing to accept paltry returns in exchange for holding investments they believed to be stable.

The sell-off was broad. All 10 industry groups in the Standard & Poor's 500 index fell. Energy companies lost almost 7 percent, materials companies were down 6.6 percent, and industrial companies lost more than 5 percent.

For a time, Kraft Foods was the only stock to rise among the 30 that make up the Dow industrials. Kraft announced Thursday that it would split in two, with one company focusing on snacks and the other groceries. But the selling eventually dragged Kraft under, too, and its stock finished down 52 cents, at $33.78.

Steep stock market losses like the ones of the past two weeks, can be self-reinforcing. A drop in stocks erodes household wealth and raises doubts about the economic outlook.

The result can be what economists call a vicious cycle. Stock losses take a toll on consumer confidence and make people more reluctant to spend money. Consumer spending makes up 70 percent of economic output in the United States.

Kevin Cook, senior stock strategist for Zacks Investment Research in Chicago, said investors' worst fears probably won't come true.

"This is not 2008 again," he said. "We don't have a liquidity crisis, we don't have a credit crisis -- this is just profit taking."

Cook said he believes the S&P 500, which closed Thursday at 1,200.07, will trade between 1,150 and 1,250 between now and Oct. 1, at least until investors have enough information to determine whether the economy is in recession again.

Even taking into account the recent declines, stocks are still considered to be in an impressive bull market that began March 9, 2009, when the market reached its recession low.

The Dow closed that day at 6,547. Since then, it is up about 74 percent.

One year ago, the Dow closed at 10,680. About a month later, the stock market began a rally that took it almost to 13,000. The catalyst was an announcement by Federal Reserve Chairman Ben Bernanke that the Fed was preparing to launch a program to buy $600 billion in government bonds to keep interest rates low and help stocks rally.

The sell-off now comes at a time when corporate profits are growing. For the S&P 500, a measure called the forward price-to-earnings ratio has fallen to about 12, well below its long-term average of 16. That means that investors who buy now are paying less for each dollar in profits.

Based on what an investor now pays for corporate profits, stocks are now trading at their lowest levels in 20 years, said Tim Courtney, chief investment officer of Burns Advisory Group in Oklahoma City.

Few companies were spared in the sell-off. Just 3 of the 500 stocks in the S&P 500 moved higher. General Motors fell 4 percent despite beating analyst estimates for its quarterly earnings.


----------



## Wysiwyg

Take the seppos out of the global economy. They're dead weight and drag the world down with them.


----------



## bigdog

Source: http://finance.yahoo.com

If you looked away Friday, you missed a market rally. Or a plunge.

Stocks end a day of wild swings mostly down

Stocks mostly lower after a day of 100-point swings; worries about US, Europe deepen 

*The NYSE DOW NYSE DOW closed   HIGHER   +60.93 points +0.54%        on Friday August 5*
Sym .......Last .......Change..........
Dow 11,444.61 +60.93 +0.54% 
Nasdaq 2,532.41 -23.98 -0.94% 
S&P 500 1,199.38 -0.69 -0.06% 
30-yr Bond 3.8230% +0.1010 

NYSE Volume 9,797,533,000 (prior 8,561,300,000)
Nasdaq Volume 3,774,773,000 (prior 3,327,884,750)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,246.99 -146.15 -2.71% 
DAX 6,236.16 -178.60 -2.78% 
CAC 40 3,278.56 -41.79 -1.26% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,169.70 -183.20 -4.21% 
Shanghai Comp 2,626.42 -57.62 -2.15% 
Taiwan We... 7,853.13 -464.14 -5.58% 
Nikkei 225 9,299.88 -359.30 -3.72% 
Hang Seng 20,946.14 -938.60 -4.29% 
Straits Times 2,994.78 -112.23 -3.61% 

http://au.finance.yahoo.com/news/Stocks-end-a-day-of-wild-apf-337435135.html?x=0&.v=19

*Stocks end a day of wild swings mostly down

Stocks mostly lower after a day of 100-point swings; worries about US, Europe deepen*

Daniel Wagner and Stan Choe, AP Business Writers, On Saturday 6 August 2011, 8:15 

NEW YORK (AP) -- If you looked away Friday, you missed a market rally. Or a plunge.

A soothing government report on employment in July eased concerns that the U.S. might slide back into a recession, and the Dow Jones industrial average rose as much as 171 points soon after trading began. But fears that Europe's growing debt crisis might threaten U.S. banks and the fragile economy ruled Friday.

After its early rise, the Dow fell more than 400 points and was down 243 just before noon. Then it rose nearly 400 points in less than an hour and was up 135 points. The rest of the day, the blue-chip stock index bounced up and down, sometimes by as much as 100 points in less than half an hour. It ended the day up 61 points, or 0.5 percent.

Stocks have been "like a tether ball being smacked around the pole" by worries about weakening economies around the world, said Sam Stovall, chief investment strategist for Standard & Poor's Equity Research.

Even less-developed countries like Brazil and China, which have been the motor of global growth for three years, are slowing. Brazilian stocks have dropped nearly 30 percent since Nov. 4 as the country tries to stem inflation. Manufacturing in China shrank in July for the first time in a year.

In Europe, debt problems are spreading, threatening Italy and Spain, the continent's third-and fourth-largest economies. In the U.S, a possible debt default was averted earlier this week, but concerns remain. Chief among them: less spending by consumers, which is leading to anemic growth by both manufacturing and service companies and too few new jobs to lower the unemployment rate significantly.

Investors also worry that the federal government is more likely to hurt the economy than help it. Instead of more spending, the government is trying to reduce its budget deficits by spending less.

Randy Warren, chief investment officer at the investment company Warren Financial Service, said markets were jittery over how leaders in the U.S. reacted to the debt crisis here and how leaders in Europe have reacted to the growing debt problems there.

"The fear was that they had no plan to deal with the situation," Warren said.

In Europe, either Italy or Spain could become the next country unable to repay its debt. European leaders and central bankers might not have the cash needed to prop them up until a larger financial rescue fund can be established.

"The burden of debt has become much more onerous because the outlook for growth is sliding back. That is very concerning for the markets," said Don Smith, economist at ICAP, the largest inter-dealer broker in the world. "The fear is ultimately about defaults and business failures."

In the U.S., few believe the government is likely to stimulate the economy through spending, as it did with its $800 billion stimulus program in 2009. Washington will instead cut spending by more than $2.1 trillion over 10 years to reduce the deficit.

"When investors took a step back and looked at the deal, it became clear that the long-term debt issues have yet to be resolved and that some hard decisions still need to be made," said Bob Doll, chief equity strategist at BlackRock. "Investors do not like uncertainty."

That contributed significantly to the up and down trading on Friday and all week, strategists said. Some investors bought stocks after steep price declines, said Ron Florance, an investment strategist at Wells Fargo Private Bank. That helped reverse the midday loss. Others have rushed to sell their holdings before the weekend, he said. That contributed to the declines seen in the morning and the pared-back gains in the afternoon.

Such volatility often follows historic sell-offs like the one Thursday, analysts said.

All three major stock indexes are in correction. That is, they are down 10 percent or more off their recent highs.

The Dow fell 5.8 percent this week. It plunged 513 points on Thursday alone, the worst day for the Dow since 2008.

The S&P 500, the benchmark for most mutual funds, fell 0.1 percent Friday. It fell 7.2 percent for the week and is down 10.8 percent since July 22, when its steady declines began.

The Nasdaq composite index fell 24 points, or 0.9 percent. It is down 11.4 percent since July 22.

Commodities also fell on worries that weaker global economies will mean less demand. Crude oil fell $8.82, to $86.88 over the week.

Overseas markets also fell Friday. Tokyo, Hong Kong and China all closed down more than 2 percent. Taiwan lost 5.6 percent. Asian markets all closed before the jobs report was released in the U.S. In Europe, shares recovered some of their losses after plunging to their lowest levels in more than a year. Germany's DAX index fell 2.8 percent. It had been down as much as 4 percent before the jobs report was released in the U.S. Other indexes showed smaller losses.

The yield on the 2-year Treasury note fell to 0.29 percent, after brushing a record low of 0.26 percent earlier Friday. Investors looking for safer assets have rushed to buy Treasurys, sending their prices higher and yields lower. The yield on the benchmark 10-year Treasury note rose to 2.56 percent after hitting a low of 2.39 percent on Thursday.

Florance, of Wells Fargo, said he expected stocks to remain volatile for the next several weeks until it's clear how healthy -- or unhealthy -- the economy is.

The U.S. economy added 117,000 jobs in July, and 56,000 more were added in May and June than reported previously, the Labor Department said. The unemployment rate inched down to 9.1 percent from 9.2 percent, partly because some unemployed workers stopped looking for work, so they were no longer counted as unemployed. Health care providers and manufacturers added jobs.

"From an economic standpoint, 117,000 jobs is hardly sufficient to boost the economy," said Dan Greenhaus, chief global strategist at the trading firm BTIG.

But the number was what people who follow the markets were hoping for. The consensus forecast had been that the economy added 90,000 jobs in July. As the week wore on, investors began to worry the number would be smaller or even negative. After Thursday's market meltdown, the employment report, which was released before the market opened Friday, was considered reassuring.

More than 200,000 jobs need to be created every month to rapidly reduce the unemployment rate. Unemployment has been above 9 percent nearly every month since the recession officially ended in June 2009. The economy has created an average of just 72,000 jobs over the last three months, down from 215,000 from February through April.

At the same time, the economy grew at just a 1.3 percent annual rate in the second quarter, less than economists expected. That weakness means one economic shock or policy mistake could tip the economy into a recession, Wachovia senior economist Mark Vitner said. Nigel Gault, chief U.S. economist for IHS Global Insight, said the probability of another recession is 40 percent.

Even so, many analysts said the economy might not be as bad off as it seems. For one thing, companies have reported strong profits and are flush with cash. They also cut costs drastically during the recession.

Those in the S&P 500 have amassed more than $963 billion in cash. That's up from $610 billion at the start of the recession, according to S&P. Earnings in the second quarter rose 11 percent from a year ago for the 422 companies in the S&P 500 index that have reported so far.

Even so, only three of the S&P 500's ten industry groups are up for the year: Health care, utilities and consumer staples. Traders consider those companies to be relatively recession-resistant.

Procter & Gamble Co. rose 1.7 percent Friday. Fourth-quarter revenue and income jumped on strong sales in emerging markets.

Viacom Inc. rose 1.9 percent after the media company said its income and revenue increased more than analysts expected in the second quarter because of strong advertising sales and fees from cable companies.

Priceline.com Inc. surged 9.2 percent, the most in the S&P, after the company reported that it earned far more than analysts had expected in the second quarter as travel bookings on the website increased   

8781


----------



## bigdog

Source: http://finance.yahoo.com

Fear has taken over on Wall Street.

The Dow Jones industrials fell 634.76 points, the first trading day since Standard & Poor's downgraded American debt. . It was the sixth-worst point decline for the Dow in the last 112 years and the worst drop since December 2008. Every stock in the Standard & Poor's 500 index declined Monday.

But the S&P downgrade wasn't the only catalyst Monday. Investors worried about the slowing U.S. economy, escalating debt problems threatening Europe and the prospect that fear in the markets would reinforce itself, as it did during the financial crisis in the fall of 2008.

*The NYSE DOW NYSE DOW closed      LOWER     -634.76 points  -5.55%     on Monday August 8*
Sym .......Last .......Change..........
Dow 10,809.85 -634.76 -5.55% 
Nasdaq 2,357.69 -174.72 -6.90% 
S&P 500 1,119.46 -79.92 -6.66% 
30-yr Bond 3.6630% -0.1600 

NYSE Volume 11,205,076,000  (prior 9,797,533,000)
Nasdaq Volume 4,055,974,500  (prior 3,774,773,000)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,109.28 -137.71 -2.62% 
DAX 5,923.27 -312.89 -5.02% 
CAC 40 3,125.19 -153.37 -4.68% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,092.80 -76.90 -1.84% 
Shanghai Comp 2,529.88 -96.54 -3.68% 
Taiwan We... 7,636.11 -217.02 -2.76% 
Nikkei 225 9,110.41 -189.47 -2.04% 
Hang Seng 20,082.77 -863.37 -4.12% 
Straits Times 2,870.89 -123.89 -4.14% 

http://au.finance.yahoo.com/news/Dow-plunges-more-than-634-apf-1960115615.html?x=0&.v=20

*Dow plunges more than 634 points after downgrade

Stocks plunge after S&P downgrade; Dow down 634; Europe, economy fears send Treasurys, gold up *

Stan Choe, AP Business Writer, On Tuesday 9 August 2011, 8:07 

NEW YORK (AP) -- Fear has taken over on Wall Street.

The Dow Jones industrials fell 634.76 points, the first trading day since Standard & Poor's downgraded American debt. . It was the sixth-worst point decline for the Dow in the last 112 years and the worst drop since December 2008. Every stock in the Standard & Poor's 500 index declined Monday.

But the S&P downgrade wasn't the only catalyst Monday. Investors worried about the slowing U.S. economy, escalating debt problems threatening Europe and the prospect that fear in the markets would reinforce itself, as it did during the financial crisis in the fall of 2008.

"`What's rocking the market is a growth scare," said Kathleen Gaffney, co-manager of the $20 billion Loomis Sayles bond fund. "The market is under a lot of stress that really has little to do with the downgrade." Instead, Gaffney said, investors are focused on worries about another recession and "how Europe and the U.S. are going to work their way out of a high debt burden" if economic growth remains slow.

The Vix, a measure of market volatility and fear among investors, shot up 50 percent. That was its steepest rise since February 2007.

Investors desperately looked for safe places to put their money and settled on U.S. government debt -- even though it was the target of the downgrade Friday, when S&P removed the United States from its list of the lowest-risk countries.

The price of Treasurys rose sharply, and yields, which move in the opposite direction from price, plunged. The yield on the 10-year Treasury note fell to 2.34 percent from 2.57 percent Friday. That matches its low for the year, reached last week. Before last Friday, there was widespread concern that a downgrade would push yields up and increase borrowing costs for the government, businesses and consumers.

"This is largely a flight to safety," said Thomas Simons, money market economist with Jefferies & Co. "The bond market is really trading off of what's going on in the stock market." Money flowed out of stocks and into Treasurys.

Gold set a record. It rose $61.40 an ounce to settle at $1,713.20.

Crude oil, natural gas and other commodities fell sharply on worries that a weaker global economy will mean less demand. Oil fell 6.4 percent to $81.31 per barrel, its lowest price of the year.

Fear is spreading quickly through the market, said Dimitre Genov, senior portfolio manager with Artio Global Investors. "It's becoming a vicious cycle and could feed into consumers reducing their demand as well."

The Dow was down 5.5 percent a 10,809.85. The sharp drop extended Wall Street's almost uninterrupted decline since late July, when the Dow was flirting with 13,000. It fell below 11,000 for the first time since November.

The S&P 500 fell 79.92, or 6.7 percent, to 1,119.46. The Nasdaq composite index fell 174.72, or 6.9 percent, to 2,357.69.

Trading volume was the highest since September 2008 and the fourth-highest on record. A total of 9.9 billion shares traded, and about 70 stocks fell for every one that rose on the New York Stock Exchange.

Stock markets in Asia began Monday's global rout. The main stock index fell almost 4 percent in South Korea and more than 2 percent in Japan. European markets opened later and fell, too, with Germany down 5 percent and France 4.7 percent.

In the U.S., stocks fell even as Moody's, another major credit rating agency, stood by its top rating of Aaa for the United States. It said it could downgrade the U.S. if it doesn't cut its deficit, "but it is early to conclude that such measures will not be forthcoming."

Financial markets also did not appear comforted by an afternoon statement by President Barack Obama, who said Washington needs more "common sense and compromise" to tame its debt.

"Markets will rise and fall," he said. "But this is the United States of America. No matter what some agency may say, we've always been and always will be a triple-A country."

S&P, in its downgrade, criticized dysfunction in the American political system. The downgrade wasn't a total surprise but came when investors were already feeling nervous about the U.S. economy and European debt, among other problems.

Last week, the Dow Jones industrial average fell almost 700 points. That was its biggest weekly point loss since 2008, during the financial crisis. Counting Monday, the Dow has dropped in 10 of the last 12 trading days. It is down more than 1,900 points, or 15 percent, since July 21.

The Russell 2000 index of small stocks has now lost nearly 25 percent from its most recent high on April 29. A decline of 10 percent or more is considered to be a correction. And a drop of 20 percent or more is said to be the start of a bear market.

The Nasdaq and S&P 500 are both down about 18 percent since the end of April. The Dow is down 16 percent.

The last bear market for the S&P 500 ran from October 2007 until March 2009. The index lost 57 percent of its value.

Despite the slide the last two and a half weeks, the S&P 500 index, at 1,119, is 7 percent higher than its close of 1,047 late last August, just before the Federal Reserve announced a program to support the economy. And the Dow's percentage drop of 5.5 didn't make the list of its 20 worst days.

S&P on Monday downgraded mortgage lenders Fannie Mae, Freddie Mac and other agencies linked to long-term U.S. debt. Fannie and Freddie own or guarantee about half of all U.S. mortgages. Their downgrade could eventually mean higher mortgage rates.

Worries about weaker profits that could result from a slowing economy have slammed the financial industry since late July. As a group, financial stocks in the S&P 500 index fell 10 percent on Monday to their lowest level since July 2009.

Bank of America plunged 20.3 percent, to $6.51, after AIG filed suit against the bank. The insurer alleged Bank of America sold it overvalued mortgage-backed securities. The bank denied the allegations. Its stock is down 51 percent this year, from $13.34.

Stocks in other industries whose profits are closely tied to the strength of the economy also fell sharply. Energy stocks in the S&P 500 fell 8.3 percent, for example.

The smallest losses came in safer industries such as consumer staples whose profits tend to be steady, regardless of the economy. Even in a bad economy people will still buy things like toothpaste and bread.

The Vix, a measure of fear among investors, is up more than 90 percent this month. The index shows how worried investors are that the S&P 500 will drop over the next 30 days. It does that by measuring prices for stock options that investors can buy to help protect their portfolios.

Investors are also worried that Italy and Spain could become the next European countries to have trouble repaying their debts. Greece, Ireland and Portugal have already received bailout loans because of Europe's 21-month-old debt crisis.

The fears have pushed investors to shun Spanish and Italian bonds, which have led to higher yields and in even higher borrowing costs for the two countries.

The European Central Bank stepped in Monday and bought billions of euros worth of their bonds. The move helped to lower yields on Spanish and Italian bonds, at least temporarily.

Seeking to avert panic spreading across financial markets, the finance ministers and central bankers of the Group of 20 industrial and developing nations issued a joint statement Monday saying they were committed to taking all necessary measures to support financial stability and growth.

"We will remain in close contact throughout the coming weeks and cooperate as appropriate, ready to take action to ensure financial stability and liquidity in financial markets," they said.

Worries about the U.S. economic recovery have been building since the government said that economic growth was far weaker in the first half of 2011 than economists expected.


----------



## bigdog

Source: http://finance.yahoo.com

The Fed spoke -- and financial markets rallied. The Dow Jones industrial average surged more than 429 points, its tenth highest point gain in history and the biggest since March 2009. It was just one day after the Dow had its worst point decline since 2008.

The Federal Reserve pledged to keep its key interest rate at its record low of nearly zero through the middle of 2013. The central bank also said that it has discussed "the range of policy tools" it can use to spur the economy.

The central bank's statement means that another of round fiscal stimulus could be on the way as the Fed works to keep those rates low, said Brian Jacobsen, chief portfolio strategist for Wells Fargo Funds Management, which has $228 billion in assets under management.

In June, the central bank finished its second round of bond buying, also known as quantitative easing, in hopes of boosting the economy. Bob Doll, chief equity strategist at BlackRock said the Fed's decision to hold interest rates at a very low rate for two years is "unprecedented" and called it a kind of backdoor quantitative easing.

"Markets are going to do what they would have done if the Fed went out and bought securities," Doll said. "This will push investors... back into equities."

He expects stocks to continue to rally because a slowly-growing U.S. economy won't harm corporate profits. "Corporate America has demonstrated that it can generate good growth and profits despite a weaker U.S. economy," Doll said.

The Dow rose 429.92 points, or 4 percent, to 11,239.77. It's a significant turnaround from Monday when the Dow plunged 634.76 points in the first trading day after Standard & Poor's downgraded the U.S. one notch from its top AAA credit rating to AA+.

The S&P 500 rose 53.07, or 4.7 percent, to 1,172.53. The Nasdaq composite index rose 124.83, or 5.3 percent, to 2,482.52.

*The NYSE DOW NYSE DOW closed   HIGHER   +429.92 points +3.98%         on Tuesday August 9*
Sym .......Last .......Change..........
Dow 11,239.77 +429.92 +3.98% 
Nasdaq 2,482.52 +124.83 +5.29% 
S&P 500 1,172.53 +53.07 +4.74% 
30-yr Bond 3.5730% -0.0900 

NYSE Volume 10,473,992,000  (prior 11,205,076,000)
Nasdaq Volume 3,885,114,500 (prior  4,055,974,500) 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,164.92 +95.97 +1.89% 
DAX 5,917.08 -6.19 -0.10% 
CAC 40 3,176.19 +51.00 +1.63% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,096.70 +40.00 +0.99% 
Shanghai Comp     2,526.07   -0.75 -0.03%
Taiwan We... 7,493.12 -59.68 -0.79% 
Nikkei 225 8,944.48 -153.08 -1.68% 
Hang Seng 19,330.70 -1,159.87 -5.66% 
Straits Times 2,884.00 closed for holiday

http://finance.yahoo.com/news/Dow-soars-429-points-on-Fed-apf-3761644887.html?x=0

*Dow soars 429 points on Fed statement

Markets spasm after Fed predictions, then rise following worst day for stocks since 2008 *

Stan Choe, AP Business Writer, On Tuesday August 9, 2011, 5:43 pm EDT 

NEW YORK (AP) -- The Fed spoke -- and financial markets rallied. The Dow Jones industrial average surged more than 429 points, its tenth highest point gain in history and the biggest since March 2009. It was just one day after the Dow had its worst point decline since 2008.

The Federal Reserve pledged to keep its key interest rate at its record low of nearly zero through the middle of 2013. The central bank also said that it has discussed "the range of policy tools" it can use to spur the economy.

The central bank's statement means that another of round fiscal stimulus could be on the way as the Fed works to keep those rates low, said Brian Jacobsen, chief portfolio strategist for Wells Fargo Funds Management, which has $228 billion in assets under management.

In June, the central bank finished its second round of bond buying, also known as quantitative easing, in hopes of boosting the economy. Bob Doll, chief equity strategist at BlackRock said the Fed's decision to hold interest rates at a very low rate for two years is "unprecedented" and called it a kind of backdoor quantitative easing.

"Markets are going to do what they would have done if the Fed went out and bought securities," Doll said. "This will push investors... back into equities."

He expects stocks to continue to rally because a slowly-growing U.S. economy won't harm corporate profits. "Corporate America has demonstrated that it can generate good growth and profits despite a weaker U.S. economy," Doll said.

The Dow rose 429.92 points, or 4 percent, to 11,239.77. It's a significant turnaround from Monday when the Dow plunged 634.76 points in the first trading day after Standard & Poor's downgraded the U.S. one notch from its top AAA credit rating to AA+.

The S&P 500 rose 53.07, or 4.7 percent, to 1,172.53. The Nasdaq composite index rose 124.83, or 5.3 percent, to 2,482.52.

At first, markets reacted much differently to the Fed's statement. Stocks fell after the Fed's 2:15 p.m. EDT statement. Gold surged to more than $1,774 per ounce. The yield on the 10-year Treasury note briefly touched a record low of 2.03 percent.

As stocks rallied, the yield on the 10-year Treasury note quickly headed higher. It was at 2.26 percent late Tuesday. A bond's yield drops when its price rises.

Howard Silverblatt, senior index analyst at S&P, called it the "Big Ben turnaround."

The industries that did best on Tuesday were the ones that fell the most on Monday. Financial stocks in the S&P 500 rose 8.2 percent after falling 10 percent Monday. Materials companies, which rely on a stronger global economy for their profits, rose 5.9 percent.

Only seven of the 500 stocks in the index had declines. All 30 stocks in the Dow rose. Bank of America Corp., which was down more than 20 percent Monday, rose 16.7 percent, the most of any stock in the Dow. Aluminum maker Alcoa Inc. was up 8 percent.

Technology company MEMC Electronic Materials Inc. led the S&P 500 higher, gaining 19.1 percent.

Boosting the stock market isn't one of the Fed's jobs, but that hasn't stopped investors from parsing every word of the statements made by the Fed and its chairman, Ben Bernanke.

The Fed's mandate is to keep prices stable and promote low unemployment, not boost stocks. But a stock dive after Fed comments has happened before. On June 3, the stock market suffered a late-day dive when Bernanke spoke in public at a conference. Investors said they were looking for a hint of new plans to spur economic growth. When that didn't come, all three major indexes sank.

After Bernanke outlined the plan for a second round of quantitative easing in August 2010, the S&P 500 index gained 28 percent over eight months. Investors pointed to that rebound as evidence that quantitative easing worked -- and so did Bernanke. This sentiment led some people to believe that if stocks fall too far, the Fed would come to the rescue.

The Fed said in its statement Tuesday that it expects "a somewhat slower pace of recovery over coming quarters." It also said that temporary factors, such as the high price of gasoline this spring and Japan's March earthquake and tsunami, were only part of the reason for the weaker economy.

Economists now believe there is a greater chance of a U.S. recession because the economy grew much more slowly in the first half of 2011 than previously thought. The economy grew at its slowest pace in the first half of 2011 since the recession ended in June 2009. The manufacturing and services industries barely grew in July. The unemployment rate remains above 9 percent, despite the 154,000 jobs added in the private sector in July.

Economies across the globe are also struggling.

Worries are growing that Spain or Italy could become the next European country to be unable to repay its debt. High inflation in less-developed countries, which have been the world's main economic engine through the recovery, is another concern. China's inflation rose to a 37-month high in July.

Those economic concerns have pulled attention away from stronger corporate earnings this spring.

Dish Network Corp.'s reported Tuesday that its second-quarter net income rose 30 percent to $334.8 million on stronger revenue. Among the 441 companies in the S&P 500 index that have already reported their second-quarter earnings, profits are up 12 percent from a year ago.

The housing market, though, remains weak. Homebuilder Beazer Homes USA Inc. said its loss widened last quarter after it closed on fewer homes.

Consolidated trading volume was heavy, at 9.2 billion shares. Nearly 12 stocks rose for every one that fell on the New York Stock Exchange.


----------



## bigdog

Source: http://finance.yahoo.com

Back to reality for the stock market ”” and back down. 

Wall Street focused Wednesday on the bleak landscape ahead for the economy and sold off, wiping out the big gains from a day earlier and then some. The Dow Jones industrial average closed down 519 points. 

The selling was intensified by worries about debt problems in Europe. 

On Tuesday, the Federal Reserve said it planned to keep interest rates ultra-low for two more years. After some initial confusion, the stock market staged a huge comeback and had one of its best days. 

But the interest-rate news proved to be a distraction. The Fed made the pledge because it sees almost no chance that the economy will improve substantially by 2013, and when investors focused on that, they dumped stocks again. 

"Now it gets back to the fundamentals," said Mark Lamkin, founder of Lamkin Wealth Management, which manages $215 million. 

The Dow closed at 10,719.94, down 4.6 percent for the day. By points, it was the ninth-steepest decline for the market. The Dow has now lost more than 2,000 points in less than three weeks. 

Wednesday was another day marked by big moves. The Dow was down more than 300 points within minutes of the opening bell. It recovered some of that loss, then drifted steadily lower in the last two hours. 

*The NYSE DOW NYSE DOW closed     LOWER   -519.83   points  -4.62%    on Wednesday August 10*
Sym .......Last .......Change..........
Dow 10,719.94 -519.83 -4.62% 
Nasdaq 2,381.05 -101.47 -4.09% 
S&P 500 1,120.76 -51.77 -4.42% 
30-yr Bond 3.5380% -0.0350 

NYSE Volume 9,313,036,000  (prior 10,473,992,000)
Nasdaq Volume 3,465,336,500  (prior 3,885,114,500)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,007.16 -157.76 -3.05% 
DAX 5,613.42 -303.66 -5.13% 
CAC 40 3,002.99 -173.20 -5.45% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,207.40 +110.70 +2.70% 
Shanghai Comp 2,549.18 +23.11 +0.91% 
Taiwan We... 7,736.32 +243.20 +3.25% 
Nikkei 225 9,038.74 +94.26 +1.05% 
Hang Seng 19,783.67 +452.97 +2.34% 
Straits Times 2,821.09 -62.91 -2.18% 

http://my.news.yahoo.com/stocks-resume-sell-off-dow-205040972.html

*Stocks resume sell-off; Dow finishes down 519

Wall Street remembers a world of problems, and Dow plummets again _ now down 2,000 in 3 weeks*

By Stan Choe, AP Business Writer | AP 

NEW YORK (AP) -- Back to reality for the stock market ”” and back down. 

Wall Street focused Wednesday on the bleak landscape ahead for the economy and sold off, wiping out the big gains from a day earlier and then some. The Dow Jones industrial average closed down 519 points. 

The selling was intensified by worries about debt problems in Europe. 

On Tuesday, the Federal Reserve said it planned to keep interest rates ultra-low for two more years. After some initial confusion, the stock market staged a huge comeback and had one of its best days. 

But the interest-rate news proved to be a distraction. The Fed made the pledge because it sees almost no chance that the economy will improve substantially by 2013, and when investors focused on that, they dumped stocks again. 

"Now it gets back to the fundamentals," said Mark Lamkin, founder of Lamkin Wealth Management, which manages $215 million. 

The Dow closed at 10,719.94, down 4.6 percent for the day. By points, it was the ninth-steepest decline for the market. The Dow has now lost more than 2,000 points in less than three weeks. 

Wednesday was another day marked by big moves. The Dow was down more than 300 points within minutes of the opening bell. It recovered some of that loss, then drifted steadily lower in the last two hours. 

The market has traded that way for two weeks, lurching up and down. The most extreme example was Tuesday, when the Dow swung more than 600 points in the one hour and 45 minutes after the Fed's statement. 

The stomach-churning highs and lows are reminiscent of the fall of 2008, the depths of the financial crisis, when swings of 800 or even 1,000 points in day were not unheard of. 

Computerized trading systems ”” programmed to analyze charts, capitalize on the tiniest changes in price and execute trades with no human intervention ”” are making the market rougher. 

High-frequency trading programs make up about half of the trades in a normal market day but 70 percent or more on a volatile one. The programs pounce on stock changes to make just slivers of a penny but do it so often that it adds up to real dollars. 

Other investors also use charts and market indicators to make trades based on market momentum. The bet is that if the market is rising, it will keep rising, and if it's falling, it will keep falling. 

More investors are turning to this strategy because the sudden slowdown in the economy has left them unable to judge companies based on their fundamentals, like projected profits. The more people use a momentum strategy, the faster the decline. 

The S&P 500 finished the day down 4.4 percent and the Nasdaq composite index down 4.1 percent. 

Financial stocks led the market lower. Bank of America and Citigroup each lost more than 10 percent of their market value. Wall Street is worried because it doesn't know how badly American banks might be hurt by Europe's debt problems. 

Investors fear Italy and Spain will be the next countries unable to repay their debts. The European financial system has been battered by fears about banks holding bonds of heavily indebted countries such as Greece and Portugal. 

"It's the same game of Old Maid playing out in Europe that was played out here during the subprime mortgage crisis," said Quincy Krosby, an economist and market strategist with Prudential Financial. 

The fear is that if European governments default on their bonds, it will hurt the European banks that own them. That could start a chain reaction that hurts the United States, because large U.S. banks own European bank debt. 

Europe is also a big market for U.S. companies. It accounted for about 29 percent of foreign sales for S&P 500 companies last year. 

France came under pressure Wednesday amid concerns that it could become the next country to lose its top AAA rating. The cost of insuring against a default of French government debt hit a record, according to data from Markit. 

In Asia, the concern is that higher inflation in China could lead to slower growth. China, Brazil and other less-developed countries have provided the strongest economic growth since the world began to recover from recession in 2009. 

Gold rose above $1,800 per ounce for the first time as more money poured into investments considered safe at a volatile time for the financial markets. Gold closed up about $41 at $1,784. 

The 10-year Treasury note, which has also served as a haven, also rose sharply. Its yield fell to 2.11 percent from 2.26 percent late Tuesday. It had reached a record low of 2.03 percent on Tuesday. A bond's yield falls when its price rises. 

Investors have bought U.S. government debt even after S&P stripped the United States of its top credit rating, AAA, late last week. 

Nearly three stocks fell for every one that rose on the New York Stock Exchange. Consolidated trading volume was heavier than usual, 8.3 billion shares. In July, average daily volume was less than half that. On Monday, it was 9.9 billion, the highest since September 2008.


----------



## bigdog

Source: http://finance.yahoo.com

Lurching higher in its week of whiplash, Wall Street recorded one of its biggest gains of all time Thursday after investors seized on a few signs that the economy might just be able to avoid a new recession.

The Dow Jones industrial average soared 423 points. It had already fallen 634 points Monday, risen 429 Tuesday and fallen 519 Wednesday. Never before has the Dow had four 400-point swings in a row.

The pieces of news that sent Wall Street rocketing higher were not exactly blockbusters: Cisco Systems said its profit was better than expected, the job market got a little better, and France tried to raise confidence in its shaken banking system.

But this is a week in which any move by the market -- higher or lower -- seems to touch off an investor stampede. So it was on Thursday, when stocks shot higher at the opening bell and never turned around.

Carlton Neel, who manages about $2 billion as a senior portfolio manager at Virtus Investment Partners, said investors are so scared of being late to a rally or a sell-off that they are trading in herds.

"Fear tends to be a much more powerful emotion, and the sell-offs tend to be more violent than the rallies," he said. "But people are worried about missing the bottom, so you will have a few melt-ups along the way."

The four days of trading this week have been the wildest for the market since the financial crisis during the fall of 2008. Each day has instantly taken a place in Wall Street history. The Dow's losses on Monday and Wednesday were its sixth- and ninth-largest by points, and its gains on Tuesday and Thursday were the 10th- and 11th-largest.

The Standard & Poor's 500 index has also risen or fallen at least 4 percent each day. That has not happened on four consecutive days since November 2008, the depths of the crisis.

*The NYSE DOW NYSE DOW closed   HIGHER    +423.37      points  +3.95%    on Thursday August 11*
Sym .......Last .......Change..........
Dow 11,143.31 +423.37 +3.95% 
Nasdaq 2,492.68 +111.63 +4.69% 
S&P 500 1,172.64 +51.88 +4.63% 
30-yr Bond 3.7870% +0.2490 

NYSE Volume 7,980,034,000  (prior 9,313,036,000)
Nasdaq Volume 3,202,898,500  (prior 3,465,336,500)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,162.83 +155.67 +3.11% 
DAX 5,797.66 +184.24 +3.28% 
CAC 40 3,089.66 +86.67 +2.89% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,203.50 -3.90 -0.09% 
Shanghai Comp 2,581.51 +32.33 +1.27% 
Taiwan We... 7,719.09 -17.23 -0.22% 
Nikkei 225 8,981.94 -56.80 -0.63% 
Hang Seng 19,595.14 -188.53 -0.95% 
Straits Times 2,793.01 -28.08 -1.00% 

http://finance.yahoo.com/news/Dow-up-423-as-Wall-Street-apf-1307028421.html?x=0

*Dow up 423 as Wall Street whipsaws again

Wall Street rockets higher as wildest week since '08 continues; Dow adds 422 *

Stan Choe, AP Business Writer, On Thursday August 11, 2011, 6:09 pm 

NEW YORK (AP) -- Lurching higher in its week of whiplash, Wall Street recorded one of its biggest gains of all time Thursday after investors seized on a few signs that the economy might just be able to avoid a new recession.

The Dow Jones industrial average soared 423 points. It had already fallen 634 points Monday, risen 429 Tuesday and fallen 519 Wednesday. Never before has the Dow had four 400-point swings in a row.

The pieces of news that sent Wall Street rocketing higher were not exactly blockbusters: Cisco Systems said its profit was better than expected, the job market got a little better, and France tried to raise confidence in its shaken banking system.

But this is a week in which any move by the market -- higher or lower -- seems to touch off an investor stampede. So it was on Thursday, when stocks shot higher at the opening bell and never turned around.

Carlton Neel, who manages about $2 billion as a senior portfolio manager at Virtus Investment Partners, said investors are so scared of being late to a rally or a sell-off that they are trading in herds.

"Fear tends to be a much more powerful emotion, and the sell-offs tend to be more violent than the rallies," he said. "But people are worried about missing the bottom, so you will have a few melt-ups along the way."

The four days of trading this week have been the wildest for the market since the financial crisis during the fall of 2008. Each day has instantly taken a place in Wall Street history. The Dow's losses on Monday and Wednesday were its sixth- and ninth-largest by points, and its gains on Tuesday and Thursday were the 10th- and 11th-largest.

The Standard & Poor's 500 index has also risen or fallen at least 4 percent each day. That has not happened on four consecutive days since November 2008, the depths of the crisis.

It's only the third time since 1934, said Kevin Pleines, an analyst at Birinyi Associates. The first was October 1987 -- including the day known as Black Monday, when the S&P plunged more than 20 percent.

On Thursday, American investors got an encouraging report before the market opened when European stock markets turned around their losses and had one of their best days in recent weeks.

The leaders of Germany and France, the biggest economies of the nations that use the euro currency, announced they will meet Tuesday to discuss the financial crisis on the continent.

The stocks of French banks have been hammered because of concerns they will be hit with massive losses from European sovereign debt. One European nation after another has struggled with debt, with Spain and Italy the latest.

France is trying to assure financial markets that it will not be downgraded from AAA, as the United States was. All three leading credit rating agencies reaffirmed the top rating for France.

An hour before the U.S. markets opened, the government reported that fewer Americans joined the unemployment line last week. The number filing for unemployment benefits fell below 400,000, the first time that has happened since April.

When the opening bell rang, technology stocks led the market higher. Cisco Systems, a maker of computer equipment, rose more than 15 percent after it reported profit that was better than Wall Street expected. It also said its revenue this quarter would also be better than expected.

The Dow finished at 11,143.31, up 423.37 points, or about 4 percent. The S&P 500 finished up 4.6 percent and the Nasdaq composite index 4.7 percent.

It was three weeks ago, on July 22, when the stock market began a long losing streak. Investors were worried mostly about the showdown in Washington over whether to raise the nation's borrowing limit.

Then came one sign after another that economic growth was much slower than analysts had thought, in addition to growing worries about the debt crisis in Europe and the stability of European banks.

During those three weeks, the Dow is down almost 1,600 points, or about 12 percent. It is still up 70 percent since its post-meltdown low of March 9, 2009.

President Barack Obama acknowledged this week's wild market swings and made another attempt to calm the nerves of Americans who have watched their retirement accounts and other investments shrivel since mid-July.

The president toured a plant in Holland, Mich., that makes batteries for hybrid cars and trucks and said he understands that the volatility "makes folks nervous" and has hammered savings accounts.

He reeled off a list of challenges for the economy -- unrest in the Middle East, an earthquake in Japan that disrupted American manufacturing, a European financial crisis that has hit U.S. banks, and lingering damage from the Great Recession.

But he declared: "There is nothing wrong with our country. There is something wrong with our politics."

Standard & Poor's cited dysfunction in the American political system, not just the nation's long-term debt, when it stripped the United States of its top-flight AAA credit rating last Friday.

Even after the downgrade, investors have found U.S. Treasury bonds and bills irresistible, seeing them as a haven of safety during an uncertain time. The demand has pushed up the price of U.S. debt, which has lowered yields.

On Thursday, the Treasury sold $16 billion worth of 30-year bonds at a 3.75 percent yield, the lowest borrowing rate for the government on that security since March 2009.

Yields for shorter-term American debt rose, but that appeared to be a response to the huge rally in stocks. Yields usually rise when the stock market has a big day because it takes a bigger rate of return to get investors interested in bonds.

Gold fell $32.80 per ounce to $1,751.50 Thursday. It had rocketed above $1,800 per ounce for the first time on Wednesday as stock markets tumbled around the world.


----------



## bigdog

Source: http://finance.yahoo.com

The wildest week on Wall Street since the financial crisis in 2008 ended with a second day of gains.

The Dow Jones industrial average finished Friday with a gain of 125 points. Most other times it would have been a fairly big day. By this week's standards, it was a sleeper. Friday capped a week when the blue-chip index had four 400-point swings in a row for the first time in its 115-year history.

Trading was frantic across financial markets all week. The yield on the 10-year Treasury note hit a record low. Gold briefly topped $1,800 per ounce.

"It was a sharp and violent week in the stock market, but it's my sense that the worst is over," said Michael Kaufler, a portfolio manager at Federated Investors.

Investors reacted to every scrap of news and each whispered rumor. A credit downgrade for the United States. Concerns about European bank solvency. Fears of a possible new recession in the U.S. Word that the Federal Reserve would keep interest rates low for two more years because of slowing growth. A positive retail sales report. Strong earnings from a technology bellwether. Better unemployment news.

The Dow dropped 634 points Monday, its sixth-worst point drop, as investors responded to Standard & Poor's withdrawal of the country's AAA credit rating. It was the first downgrade of U.S. government debt in history. The Dow rose 429 points Tuesday, only to plunge 519 points Wednesday. It surged 423 points on Thursday following a better-than-expected drop in applications for unemployment benefits.

A rebound in retail sales in July pushed the stock market higher Friday as traders looked past a Reuters/University of Michigan survey that found that consumers were pessimistic about their own finances and the economy. The measure of consumer sentiment fell to a 30-year low.

It was the first time since early July that the Dow and S&P index rose for two consecutive days.

*The NYSE DOW NYSE DOW closed   HIGHER   +125.71      points  +1.13%    on Friday August 12*
Sym .......Last .......Change..........
Dow 11,269.02 +125.71 +1.13% 
Nasdaq 2,507.98 +15.30 +0.61% 
S&P 500 1,178.81 +6.17 +0.53% 
30-yr Bond 3.7030% -0.0840 

NYSE Volume 5,643,669,500  (prior 7,980,034,000)
Nasdaq Volume 2,252,491,750  (prior 3,202,898,500)

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,320.03 +157.20 +3.04% 
DAX 5,997.74 +200.08 +3.45% 
CAC 40 3,213.88 +124.22 +4.02% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,237.90 +34.40 +0.82% 
Shanghai Comp 2,593.17 +11.66 +0.45% 
Taiwan We... 7,637.02 -82.07 -1.06% 
Nikkei 225 8,963.72 -18.22 -0.20% 
Hang Seng 19,620.01 +24.87 +0.13% 
Straits Times 2,850.59 +54.37 +1.94% 

http://finance.yahoo.com/news/Dow-f...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Dow finishes wild week on an up note

Stocks end wild week with second day of gains despite mixed signals on the economy*

Daniel Wagner and David K. Randall, AP Business Writers, On Friday August 12, 2011, 6:52 pm 

NEW YORK (AP) -- The wildest week on Wall Street since the financial crisis in 2008 ended with a second day of gains.

The Dow Jones industrial average finished Friday with a gain of 125 points. Most other times it would have been a fairly big day. By this week's standards, it was a sleeper. Friday capped a week when the blue-chip index had four 400-point swings in a row for the first time in its 115-year history.

Trading was frantic across financial markets all week. The yield on the 10-year Treasury note hit a record low. Gold briefly topped $1,800 per ounce.

"It was a sharp and violent week in the stock market, but it's my sense that the worst is over," said Michael Kaufler, a portfolio manager at Federated Investors.

Investors reacted to every scrap of news and each whispered rumor. A credit downgrade for the United States. Concerns about European bank solvency. Fears of a possible new recession in the U.S. Word that the Federal Reserve would keep interest rates low for two more years because of slowing growth. A positive retail sales report. Strong earnings from a technology bellwether. Better unemployment news.

The Dow dropped 634 points Monday, its sixth-worst point drop, as investors responded to Standard & Poor's withdrawal of the country's AAA credit rating. It was the first downgrade of U.S. government debt in history. The Dow rose 429 points Tuesday, only to plunge 519 points Wednesday. It surged 423 points on Thursday following a better-than-expected drop in applications for unemployment benefits.

A rebound in retail sales in July pushed the stock market higher Friday as traders looked past a Reuters/University of Michigan survey that found that consumers were pessimistic about their own finances and the economy. The measure of consumer sentiment fell to a 30-year low.

It was the first time since early July that the Dow and S&P index rose for two consecutive days.

Normally, such a bad consumer survey would have pushed shares sharply lower for the day, said Quincy Krosby, an investment strategist with Prudential Financial.

"But these are not normal times," she said. Market volatility cuts both ways, sending shares way up or way down, Krosby noted. That can cause stock prices to defy economic data.

The strong retail sales added to other bits of more positive data about the economy. The government said last Friday that hiring by companies picked up in July after two dismal months, though employers still are adding jobs too slowly to significantly reduce unemployment. A report Thursday showed applications for unemployment benefits fell to a four-month low. Some analysts believe recently announced layoffs will cause that number to rise in the coming weeks.

Companies that rely on an expanding economy for profits led the Dow higher Friday. Boeing Co., Hewlett-Packard Co. and United Technologies Corp. each rose by 4 percent or more.

A separate government report on Friday showed that businesses increased their stockpiles of everything from raw materials to retail products for the 18th month in a row.

Growing inventories are usually a sign of business confidence. But in June, Americans cut their spending for the first time in nearly two years. If the market's gyrations spook consumers further, people might spend even less just as retailers stock up for the crucial holiday season.

"We are at a turning point," said Bill Hampel, chief economist for the Credit Union National Association. "If the stock market continues to be volatile next week, I would expect a pretty serious effect on consumer confidence."

The Dow finished Friday with a gain of 125.71 points, or 1.1 percent, to 11,269.02. It finished the week down 1.5 percent after being down as much as 6.3 percent.

The broader S&P 500 index rose 6.17 points, or 0.5 percent, to 1,178.81. It finished the week down 1.7 percent. The technology-focused Nasdaq composite rose 15.30, or 0.6 percent, to 2,507.98. It lost 1 percent for the week.

All three major stock indexes are now down more than 10 percent from their April highs. That is a big enough drop to signify what traders call a market correction. A drop of more than 20 percent signifies a bear market.

The market's huge swings were reminiscent of the week of October 13-17, 2008, which came at the height of the financial crisis. The Dow started that week with a gain of 936 points, its largest one-day point gain. Two days later, it fell 733 points on bad economic news. The next day, it gained 401.

Financial stocks continued to slide Friday. Investment bank Morgan Stanley fell 7 percent becuase of concerns about U.S. banks' exposure to the financial crisis in Europe and lawsuits related to poor-quality mortgage securities sold before the financial crisis of 2008. JPMorgan Chase & Co. and Goldman Sachs Group Inc. also fell.

Goodyear Tire & Rubber Co. jumped 7 percent after the company told investors that it expects revenue this quarter to offset its higher raw material costs. The company had said last month that raw material costs might hurt its profits in the second half of the year.

DeVry Inc. plunged nearly 17 percent, the most in the S&P 500, after the company said that student enrollment tumbled this summer. For-profit education companies are under pressure to raise their admissions standards so that students will be more likely to find jobs and pay off their government-backed loans. That has caused their stocks to fall sharply this year.

The yield on the 10-year Treasury note fell to 2.26 percent from 2.34 percent late Thursday. It had fallen to a record low of 2.03 percent earlier in the week.

Two stocks rose for every one that fell on the New York Stock Exchange. Volume was above average at 5 billion shares, but lighter than earlier in the week when it reached 9.7 billion shares, the fourth-highest on record.

9521


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average notched a three-day win streak Monday for the first time in six weeks. A $19 billion corporate buying spree and encouraging economic news from Japan sent the Dow up 213 points and erased its losses from last week.

The return of what's called "Merger Monday" on Wall Street made investors more optimistic about the future. So did a report that Japan's economy shrank less than feared after the earthquake and tsunami there on March 11. That helped ease worries that the U.S. economy may slide into another recession.

The Dow rose 213.88 points, or 1.9 percent to 11,482.90. It has gained 763 points since Thursday. That's the best three-day point gain since it rose 927 in November 2008, during the depths of the financial crisis. The Dow is also up 7.1 percent over the three days, the biggest percentage gain since it rose 9.5 percent the first three days of the bull market in March 2009.

The Standard & Poor's 500 index rose 25.68, or 2.2 percent, to 1,204.49. The Nasdaq composite index rose 47.22, or 1.9 percent, to 2,555.20.

Markets may have stabilized the last three days, but financial analysts warned investors not to assume that stocks have fully settled down after last week's swings. The Dow rose or fell by at least 400 points in four straight days for the first time. The first downgrade of the U.S. credit rating triggered the volatility. It was worsened by concerns that Europe's debt problems are worsening and that the U.S. economy is weakening.

*The NYSE DOW NYSE DOW closed HIGHER +213.88 points +1.90% on Monday August 15*
Sym .......Last .......Change..........
Dow 11,482.90 +213.88 +1.90% 
Nasdaq 2,555.20 +47.22 +1.88% 
S&P 500 1,204.49 +25.68 +2.18% 
30-yr Bond 3.7470% +0.0440 

NYSE Volume 5,063,186,500 
Nasdaq Volume 1,977,731,125 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,350.58 +30.55 +0.57% 
DAX 6,022.24 +24.50 +0.41% 
CAC 40 3,239.06 +25.18 +0.78% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,346.80 +108.90 +2.57% 
Shanghai Comp 2,626.77 +33.60 +1.30% 
Taiwan We... 7,819.39 +182.37 +2.39% 
Nikkei 225 9,086.41 +122.69 +1.37% 
Hang Seng 20,260.10 +640.09 +3.26% 
Straits Times 2,874.40 +23.81 +0.84% 

http://finance.yahoo.com/news/Stock...9.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks rise for third day after acquisition flurry

Stocks rise after Google's $12.5 billion purchase highlights another round of corporate deals* 

Stan Choe, AP Business Writer, On Monday August 15, 2011, 5:52 pm EDT 

NEW YORK (AP) -- The Dow Jones industrial average notched a three-day win streak Monday for the first time in six weeks. A $19 billion corporate buying spree and encouraging economic news from Japan sent the Dow up 213 points and erased its losses from last week.

The return of what's called "Merger Monday" on Wall Street made investors more optimistic about the future. So did a report that Japan's economy shrank less than feared after the earthquake and tsunami there on March 11. That helped ease worries that the U.S. economy may slide into another recession.

The Dow rose 213.88 points, or 1.9 percent to 11,482.90. It has gained 763 points since Thursday. That's the best three-day point gain since it rose 927 in November 2008, during the depths of the financial crisis. The Dow is also up 7.1 percent over the three days, the biggest percentage gain since it rose 9.5 percent the first three days of the bull market in March 2009.

The Standard & Poor's 500 index rose 25.68, or 2.2 percent, to 1,204.49. The Nasdaq composite index rose 47.22, or 1.9 percent, to 2,555.20.

Markets may have stabilized the last three days, but financial analysts warned investors not to assume that stocks have fully settled down after last week's swings. The Dow rose or fell by at least 400 points in four straight days for the first time. The first downgrade of the U.S. credit rating triggered the volatility. It was worsened by concerns that Europe's debt problems are worsening and that the U.S. economy is weakening.

"You might have these moments of quiet, but the debt crisis in Europe did not go away," said John Hailer, chief executive for the U.S. and Asia of Natixis Global Asset Management. "Our issues with the debt, with what our tax policy is going to be going forward, our unemployment did not go away."

"We are probably going to have to look at some very different levels of volatility than what a lot of investors grew up with over the last 25 to 30 years," he said.

A period of relative stability has been common in past volatile markets. In 2008, stocks plunged between mid-September and mid-November. From mid-November until the beginning of January 2009, the Dow was in a lull of sorts. It ratcheted up and down, mostly in the high 8,000 range. But in early January 2009, it began to plunge again and finally hit bottom at 6,547 on March 9.

Despite its three-day gain, the Dow remains down 9.8 percent since its most recent high on July 21 and down 10.4 percent since its 2011 high set on April 29.

More swings could come this week. Leaders of France and Germany meet Tuesday to discuss Europe's debt problems. Spain and other countries have borrowed so much that they may need help to repay their bills. Investors on Tuesday will get an update on how Spain's economy did during the second quarter.

Corporate deals dominated the news, as companies followed a years-long practice of announcing acquisitions on a Monday. The biggest was Google Inc.'s $12.5 billion cash purchase of wireless phone maker Motorola Mobility Holdings Inc. It is also the biggest acquisition in Google's history. No. 2 was its $3.2 billion purchase of DoubleClick in 2008. Motorola Mobility's stock jumped percent 55.8 percent. Google fell 1.2 percent.

Among other deals: Time Warner Cable Inc. said it will pay $3 billion in cash for Insight Communications Co., which has more than 750,000 cable customers in the Midwest. Agribusiness conglomerate Cargill said it will buy animal nutrition company Provimi of the Netherlands for $2.16 billion. And in the energy industry, offshore driller Transocean Ltd. said it will buy Aker Drilling of Norway for $1.43 billion in cash.

Companies across the United States have accumulated a record amount of cash since the recession ended. They have increased their cash reserves every quarter for more than two years. Those in the S&P 500 index had a total of $963.3 billion at the end of March, according to the most recent data from Standard & Poor's.

Investors have been waiting for companies to use some of that cash on acquisitions, dividend increases and stock buybacks. Many market strategists believe that companies are more confident about the future if they're willing to buy other businesses. So a series of acquisition announcements tends to send stocks higher.

The growing cash hoard has been the result of strong profits. Companies have kept costs low by being slow to hire. Revenue, meanwhile, is growing, particularly from overseas customers. For the 460 companies in the S&P 500 that have reported second-quarter results, earnings were up 12 percent from a year ago.

It was the busiest day for acquisitions since July 11, when Express Scripts said it would buy Medco Health Solutions for $29.1 billion in a combination of the country's largest pharmacy benefits managers. The total value of deals targeting U.S. companies has climbed to $771 billion this year, according to Dealogic. That's up 55 percent from $498 billion at the same point last year.

Some companies are looking to pare back. Bank of America Corp. said it will sell its Canadian credit-card business to TD Bank Group. The bank will also get out of the credit card business in Britain and Ireland. The deals follow others that Bank of America made to move out of foreign credit cards, and they should help the company improve its balance sheet

Bank of America rose 7.9 percent, part of a rally for the financial industry. Financial stocks in the S&P 500 rose 3.2 percent as a group.

Energy stocks in the index rose 3.4 percent after crude oil climbed $2.50 per barrel to settle at $87.88.

Asian and European markets rose earlier after Japan said its economy shrank at just a 1.3 percent annual rate from April through June. That was less than half the drop that economists expected following the earthquake, tsunami and nuclear crisis that struck the country in March.

Still, investors have more reason to worry about the weak U.S. economy.

Manufacturers in New York told the Federal Reserve they're increasingly pessimistic about growth. Manufacturing has been one of the strongest parts of the economy since the recession ended in 2009, but growth began to slow in March. Manufacturing nationwide barely grew in July.

Cosmetics company Estee Lauder Cos. fell 6.5 percent after it forecast earnings for the upcoming year that were below Wall Street's expectations. It also said its net income rose 72 percent last quarter on strong sales growth to China, Russia and the Middle East.

Lowe's Cos., the second-largest home improvement retailer, rose 0.9 percent after it said its net income was roughly flat last quarter on a 1 percent rise in revenue.

More than 10 stocks rose for every one that fell on the New York Stock Exchange. Trading volume at 4.5 billion shares was below the 9 billion it reached last Monday and Tuesday. Volume was close to its average over the last year of 4.3 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Worries about Europe's economic and debt problems sent stocks Tuesday to their first loss in four days.

The major indexes bounced up and down in another volatile day. The Dow Jones industrial average fell more than 120 points in the first half hour of trading after a report showed that Germany's economy stalled last quarter and dragged down growth for Europe.

The Dow recovered and had a slight advance at midday, but resumed its drop after the leaders of France and Germany tried to calm worries about Europe's debt problems by pushing for long-term political solutions. Investors were hoping for immediate financial measures like the introduction of a single bond jointly backed by the eurozone's members. The Dow fell as many as 190 points in the early afternoon before again recovering.

At the close, the Dow was down 76.97, or 0.7 percent, to 11,405.93. It was the first time in seven trading days that the Dow rose or fell by less than 100 points. The Standard & Poor's 500 index fell 11.73, or 1 percent, to 1,192.76. The Nasdaq composite fell 31.75, or 1.2 percent, to 2,523.45.

*The NYSE DOW NYSE DOW closed LOWER -76.97  points -0.67% on Tuesday August 16*
Sym .......Last .......Change..........
Dow 11,405.93 -76.97 -0.67% 
Nasdaq 2,523.45 -31.75 -1.24% 
S&P 500 1,192.76 -11.73 -0.97% 
30-yr Bond 3.6490% -0.0980 

NYSE Volume 4,982,330,000 
Nasdaq Volume 2,050,989,000 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,357.63 +7.05 +0.13% 
DAX 5,994.90 -27.34 -0.45% 
CAC 40 3,230.90 -8.16 -0.25% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,317.30 0.00 0.00% 
Shanghai Comp 2,608.17 -18.60 -0.71% 
Taiwan We... 7,798.59 -20.80 -0.27% 
Nikkei 225 9,107.43 +21.02 +0.23% 
Hang Seng 20,212.08 -48.02 -0.24% 
Straits Times 2,832.73 -41.67 -1.45% 

http://finance.yahoo.com/news/US-stocks-fall-on-European-apf-4281013951.html?x=0

*US stocks fall on European economic, debt worries

Strong earnings from US blue chips not enough to offset concerns about slowing global growth *

Stan Choe, AP Business Writer, On Tuesday August 16, 2011, 5:43 pm 

NEW YORK (AP) -- Worries about Europe's economic and debt problems sent stocks Tuesday to their first loss in four days.

The major indexes bounced up and down in another volatile day. The Dow Jones industrial average fell more than 120 points in the first half hour of trading after a report showed that Germany's economy stalled last quarter and dragged down growth for Europe.

The Dow recovered and had a slight advance at midday, but resumed its drop after the leaders of France and Germany tried to calm worries about Europe's debt problems by pushing for long-term political solutions. Investors were hoping for immediate financial measures like the introduction of a single bond jointly backed by the eurozone's members. The Dow fell as many as 190 points in the early afternoon before again recovering.

At the close, the Dow was down 76.97, or 0.7 percent, to 11,405.93. It was the first time in seven trading days that the Dow rose or fell by less than 100 points. The Standard & Poor's 500 index fell 11.73, or 1 percent, to 1,192.76. The Nasdaq composite fell 31.75, or 1.2 percent, to 2,523.45.

"The real question the market is trying to answer is: Are we going to have another recession or not?" said John Burke, head of Burke Financial Strategies with $200 million in assets under management. "Today, the answer is maybe yes, because it doesn't look like Europe has figured out a solution to its debt."

A proposal for a Europe-wide tax on financial transactions also hurt stocks, said Nick Kalivas, vice president at broker MF Global. "It's another slap in the face to the banking system" and would cut into profits and limit trading, he said. "The path toward economic growth still looks pretty uncertain."

The day's trading showed how critical economic developments about Europe have become to U.S. investors. But Tuesday's losses were moderate and pointed to some stability in the market after the selling that sent the S&P 500 down 17 percent from July 21 to last Wednesday.

In the U.S., economic reports Tuesday were mixed: Housing remains weak, but factory output rose last month at its fastest pace since an earthquake in Japan disrupted global manufacturing in March.

"Investors don't know which way to go here," said Paul Brigandi, senior vice president of Direxion Funds, which has about $7 billion in assets under management.

On one side, he said buying looks attractive because stocks are cheaper after the recent plunge.And more U.S. companies on Tuesday joined the stream of those that have reported earnings above analysts' expectations. But on the other side, selling looks appealing because of worries about the global economy and debt problems in the United States and Europe.

Prices for gold and Treasurys rose as money moved into investments considered safer. Oil fell on worries that a weaker economy will mean less demand for energy.

Fitch Ratings said Tuesday it will keep its credit rating on the United States at the top grade. Two of the three major credit-rating agencies now have stood by their AAA grade of U.S. debt. Standard & Poor's downgraded the U.S. on Aug. 5. That sent stocks on a volatile slide last week.

Europe's economy and debt troubles have been among global investors' main concerns over the last year and a half. On Tuesday, the European Union reported that economic growth in the 17 countries that use the euro slowed to 0.2 percent between April and June from 0.8 percent the previous quarter. Germany's growth fell to 0.1 percent from 1.3 percent.

That will make it even tougher for Spain and other countries to raise revenue. Some European countries have borrowed so much that they may need help repaying debt.

French President Nicolas Sarkozy and German Chancellor Angela Merkel called for a "new economic government" for Europe and said all countries that use the euro should have mandatory balanced budgets and better coordination of economic policy. They also pledged to harmonize their corporate taxes to show they are "marching in lockstep" to protect the euro.

In the U.S., the government reported that homebuilders are still stuck in their years-long slump. They broke ground on new homes at an annual rate of 604,000 last month, according to the Commerce Department. That's down from 613,000 in June. In 2005, before the housing bubble burst, housing starts were typically above 2 million.

Manufacturing may be recovering. The Federal Reserve said industrial production rose 0.9 percent last month on a pickup at auto factories, utilities and mines. Manufacturing was one of the strongest industries after the recession ended in 2009, but its growth has slowed this year.

Wal-Mart Stores Inc. rose 3.9 percent after it said net income rose 5.7 percent last quarter from a year ago on strong overseas sales. Earnings growth was stronger than analysts expected, and the world's largest retailer raised its profit forecast for the year.

Home Depot Inc. rose 5.3 percent after it said second-quarter net income rose 14 percent and raised its profit forecast.

Investors have largely ignored the strong earnings that companies have reported for the second quarter. Those in the S&P 500 index earned a record amount per share last quarter on an operating basis, which ignores one-time costs and other special items, according to S&P senior index analyst Howard Silverblatt.

Investors have been overwhelmed by the market's volatility, said Tim Holland, portfolio manager of the Aston/Tamro Diversified Equity fund. "When you have these big swings, people completely lose focus on companies and their results. They're paying more attention to the market than the companies that make up the market. The earnings season was good and better than expected."

Holland said companies also have healthier balance sheets than during the financial crisis of 2008. He has been buying stocks that are cheaper following the market's plunge. "We like to buy the best when they're depressed," he said.

Energy stocks in the S&P 500 fell 1.7 percent after oil fell $1.23 per barrel to settle at $86.65.

NYSE Euronext Inc. fell 8.4 percent for the biggest loss among stocks in the S&P 500 on worries that a possible European financial-transaction tax could hurt its profits.

Saks Inc. fell 4.6 percent after it said it's going into the fall season "a bit more cautiously." Its higher-income customers have been spending more, because they're more protected from the weak job market than middle-income Americans. But the volatile stock market could hurt wealthy shoppers' confidence.

The yield on the 10-year Treasury note fell to 2.22 percent from 2.31 percent late Monday as investors moved into things considered safer. A bond's yield falls when its price rises. The 10-year yield fell to a record low of 2.03 percent last week.

Gold rose $27 per ounce to settle at $1,785. Last week, it rose above $1,800 for the first time.

Nearly three stocks fell for every one that rose on the New York Stock Exchange. Trading volume at 4.5 billion was close to its average over the last year of 4.3 billion.

The Dow rose 213 points Monday after a series of acquisitions led by Google's $12.5 billion purchase of Motorola Mobility. Its rise of 763 points over three days was the Dow's biggest since November 2008, during the depths of the financial crisis.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks rose modestly Wednesday after companies reported higher earnings but gave mixed forecasts about how the fragile economy and rising costs will affect their growth.

Target Corp., Staples Inc. and Dell Inc. reported earnings for last quarter that were above analysts' forecasts. Companies in the Standard & Poor's 500 are on track to report higher profits for a ninth straight quarter. But economic growth is weak around the world, and some economists worry that a second recession may be coming. That could hurt companies' earnings in the future -- and kept investors from buying with more enthusiasm Wednesday.

Dell's forecast added to investors' concerns: It cut its prediction for revenue growth this year. Target and Staples gave profit forecasts that were above Wall Street's expectations.

The Dow Jones industrial average rose 4.28 points to 11,410.21. The S&P 500 rose 1.13, or 0.1 percent, to 1,193.89. The Nasdaq composite fell 11.97, or 0.5 percent, to 2,511.48.

Seven of the 10 sectors that make up the S&P 500 rose. The biggest drops came from technology stocks, which fell 0.8 percent after Dell cut its forecast.

"There are a whole bunch of contradictory signals in the system now, and it's hard to tell which way to go," said Charlie Smith, chief investment officer of Fort Pitt Capital Group, which has just over $1 billion in assets under management.

Investors are still worried about Europe. Some countries have borrowed so much that they may not be able to repay their bonds, and economic growth there has slowed. Concerns about a possible default by a European country have dominated the market in recent weeks, along with worries about the slow U.S. economy.

Another concern Wednesday: Companies are contending with rising costs. Higher food prices helped push inflation at the wholesale level to 0.2 percent in July, according to a government report Wednesday. That compares with a 0.4 percent drop in June, but is still well below inflation levels earlier this year when violence in the Middle East forced oil prices higher. In February, wholesale prices rose 1.5 percent.

*The NYSE DOW NYSE DOW closed HIGHER +4.28  points +0.04%on Wednesday August 17*
Sym .......Last .......Change..........
Dow 11,410.21 +4.28 +0.04% 
Nasdaq 2,511.48 -11.97 -0.47% 
S&P 500 1,193.89 +1.13 +0.09% 
30-yr Bond 3.5670% -0.0820 

NYSE Volume 4,392,410,500 
Nasdaq Volume 1,939,613,875 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,331.60 -26.03 -0.49% 
DAX 5,948.94 -45.96 -0.77% 
CAC 40 3,254.34 +23.44 +0.73% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,371.80 +54.50 +1.26% 
Shanghai Comp 2,601.26 -6.91 -0.26% 
Taiwan We... 7,741.76 -56.83 -0.73% 
Nikkei 225 9,057.26 -50.17 -0.55% 
Hang Seng 20,289.03 +76.95 +0.38% 
Straits Times 2,828.53 -4.20 -0.15% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks rise slightly on earnings reports

Stocks rise slightly after companies report stronger earnings but offer mixed forecasts *

Stan Choe, AP Business Writer, On Wednesday August 17, 2011, 6:48 pm 

NEW YORK (AP) -- Stocks rose modestly Wednesday after companies reported higher earnings but gave mixed forecasts about how the fragile economy and rising costs will affect their growth.

Target Corp., Staples Inc. and Dell Inc. reported earnings for last quarter that were above analysts' forecasts. Companies in the Standard & Poor's 500 are on track to report higher profits for a ninth straight quarter. But economic growth is weak around the world, and some economists worry that a second recession may be coming. That could hurt companies' earnings in the future -- and kept investors from buying with more enthusiasm Wednesday.

Dell's forecast added to investors' concerns: It cut its prediction for revenue growth this year. Target and Staples gave profit forecasts that were above Wall Street's expectations.

The Dow Jones industrial average rose 4.28 points to 11,410.21. The S&P 500 rose 1.13, or 0.1 percent, to 1,193.89. The Nasdaq composite fell 11.97, or 0.5 percent, to 2,511.48.

Seven of the 10 sectors that make up the S&P 500 rose. The biggest drops came from technology stocks, which fell 0.8 percent after Dell cut its forecast.

"There are a whole bunch of contradictory signals in the system now, and it's hard to tell which way to go," said Charlie Smith, chief investment officer of Fort Pitt Capital Group, which has just over $1 billion in assets under management.

Investors are still worried about Europe. Some countries have borrowed so much that they may not be able to repay their bonds, and economic growth there has slowed. Concerns about a possible default by a European country have dominated the market in recent weeks, along with worries about the slow U.S. economy.

Another concern Wednesday: Companies are contending with rising costs. Higher food prices helped push inflation at the wholesale level to 0.2 percent in July, according to a government report Wednesday. That compares with a 0.4 percent drop in June, but is still well below inflation levels earlier this year when violence in the Middle East forced oil prices higher. In February, wholesale prices rose 1.5 percent.

Economists say rising inflation reduces the chances that the Federal Reserve could announce another round of bond purchases to help the economy, a move called quantitative easing. The Fed just ended its second round of purchases, known as QE2, in June. "QE3 could be a hard sell" given higher inflation, Credit Suisse economists wrote in a report. They expect the government on Thursday to report that consumer prices rose 0.2 percent in July.

Preppy retailer Abercrombie & Fitch Co. fell 8.7 percent after its CEO warned of challenges ahead -- including higher expenses. Cost "pressures will be greater in the second half of the year, and macroeconomic uncertainty has increased," Mike Jeffries said, after the company reported a 64 percent rise in profit last quarter.

Dell said late Tuesday its profit rose 63 percent last quarter on strong demand from businesses and government agencies. But it also cited "a more uncertain demand environment" when it cut its forecast for annual revenue growth to a range of 1 percent to 5 percent. That's down from an earlier growth forecast for 5 percent to 9 percent. Dell stock fell 10.1 percent Wednesday.

Other companies are more optimistic. Retailer Target said it expects to earn between $4.15 and $4.30 per share this year. Analysts expected $4.14. Target also said its earnings last quarter rose 3.7 percent on sales of grocery, beauty products and other items. Target stock rose 2.4 percent.

Office products retailer Staples raised its profit forecast for the year after saying strong international sales pushed earnings up 36 percent last quarter.

Deere also raised its forecast for full-year earnings. It now expects to earn $2.7 billion this fiscal year, up from a May forecast of $2.65 billion. The maker of tractors and other heavy equipment said its profit rose 15 percent last quarter on strong demand for farm equipment.

Stocks have been particularly volatile in August. Worries rose as the U.S. government said it may default on its debt unless it was allowed to borrow more. The government just beat the deadline to avoid a default, but the partisanship in the debate came at a cost -- Standard & Poor's downgraded the U.S. credit rating on Aug. 5 by one notch to AA+ from the top AAA rating. That triggered one of Wall Street's wildest weeks: The Dow rose or fell by at least 400 points in each of the first four days of last week, the first time that has happened.

Markets appear to have calmed somewhat since then. Tuesday marked the first time since the Aug. 5 downgrade that the Dow rose or fell by less than 100 points. It fell 76 points on worries about Europe's ability to contain its debt problems.

Nearly three stocks rose Wednesday for every two that fell on the New York Stock Exchange. Consolidated trading volume was relatively light at 3.9 billion shares, the lowest in three weeks.


----------



## bigdog

Source: http://finance.yahoo.com

I have been overseas on holiday and my laptop crashed unrecoverable!!

The Dow Jones industrial average ended another turbulent week with a strong gain Friday after Federal Reserve Chairman Ben Bernanke said the U.S. was headed for long-term economic growth. It was the first winning week in a month.

Trading volume was light, a sign that many traders were leaving New York ahead of Hurricane Irene. The storm is expected to reach the region late Saturday night. A spokesman for the New York Stock Exchange said trading is expected to open as usual Monday.

Bernanke announced no new economic stimulus measures during his speech at a conference in Jackson Hole, Wyo., as some investors had hoped. He did leave open the possibility of more action if another recession looks likely.

Indexes fell sharply as the speech was released at 10 a.m. and it became clear that Bernanke was not promising additional support of the economy. The Dow Jones industrial average was down about 78 points shortly before the speech started and slumped as many as 220 points shortly after Bernanke started speaking. It recovered within an hour and stayed higher the rest of the day.

The Dow Jones industrial average rose 134.72 points, or 1.2 percent, to close at 11,284.54. It was up 4.3 percent for the week after being down the past four.

The Standard & Poor's 500 index rose 17.53, or 1.5 percent, to 1,176.80. It rose 4.7 percent for the week, its biggest gain since the week ended July 1. The technology-heavy Nasdaq composite index rose 60.22, or 2.5 percent, to 2,479.85.

Boeing Co. rose 2.8 percent, the most of the 30 stocks that make up the Dow. Tiffany & Co. rose 9 percent, the most of any of the 500 stocks in the S&P index, after the luxury retailer raised its profit forecast for the year.

*The NYSE DOW NYSE DOW closed HIGHER +134.72 points +1.21% on Friday August 26*
Sym .......Last .......Change.......... 
Dow 11,284.54 +134.72 +1.21% 
Nasdaq 2,479.85 +60.22 +2.49% 
S&P 500 1,176.80 +17.53 +1.51% 
30-yr Bond 3.5340% -0.0580  

NYSE Volume 5,040,873,000 
Nasdaq Volume 1,873,150,625 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,129.92 -1.18 -0.02% 
DAX 5,537.48 -46.66 -0.84% 
CAC 40 3,087.64 -31.36 -1.01% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,271.00 -9.50 -0.22% 
Shanghai Comp NaN NaN NaN% 
Taiwan We... 7,445.10 +34.23 +0.46% 
Nikkei 225 8,797.78 +25.42 +0.29% 
Hang Seng 19,582.88 -169.60 -0.86% 
Straits Times 2,748.18 -17.56 -0.63% 

http://finance.yahoo.com/news/Bernankes-speech-sends-stocks-apf-3974365189.html?x=0

*Bernanke's speech sends stocks higher; Dow up 134

Stocks turn higher as Bernanke predicts long-term growth; Dow breaks four-week losing streak *

Daniel Wagner and David K. Randall, AP Business Writers, On Friday August 26, 2011, 5:44 pm EDT 

The Dow Jones industrial average ended another turbulent week with a strong gain Friday after Federal Reserve Chairman Ben Bernanke said the U.S. was headed for long-term economic growth. It was the first winning week in a month.

Trading volume was light, a sign that many traders were leaving New York ahead of Hurricane Irene. The storm is expected to reach the region late Saturday night. A spokesman for the New York Stock Exchange said trading is expected to open as usual Monday.

Bernanke announced no new economic stimulus measures during his speech at a conference in Jackson Hole, Wyo., as some investors had hoped. He did leave open the possibility of more action if another recession looks likely.

Indexes fell sharply as the speech was released at 10 a.m. and it became clear that Bernanke was not promising additional support of the economy. The Dow Jones industrial average was down about 78 points shortly before the speech started and slumped as many as 220 points shortly after Bernanke started speaking. It recovered within an hour and stayed higher the rest of the day.

The Dow Jones industrial average rose 134.72 points, or 1.2 percent, to close at 11,284.54. It was up 4.3 percent for the week after being down the past four.

The Standard & Poor's 500 index rose 17.53, or 1.5 percent, to 1,176.80. It rose 4.7 percent for the week, its biggest gain since the week ended July 1. The technology-heavy Nasdaq composite index rose 60.22, or 2.5 percent, to 2,479.85.

Boeing Co. rose 2.8 percent, the most of the 30 stocks that make up the Dow. Tiffany & Co. rose 9 percent, the most of any of the 500 stocks in the S&P index, after the luxury retailer raised its profit forecast for the year.

In his speech, Bernanke focused on the long-term strengths of the U.S. economy. He said they "do not appear to have been permanently altered by the shocks of the past four years." That shot of optimism helped lift markets.

"In the American economy, the only thing that's really lacking right now is confidence," said David Kelly, chief market strategist at JPMorgan funds. "People who understand the limits of monetary policy also understand that the economy has what it takes to grow."

Other analysts said Bernanke's speech helped lift investor sentiment. Liz Ann Sonders, chief investment strategist at Charles Schwab, said Bernanke's speech was an "acknowledgement that the Fed is not out of tools and that they stand ready" to act if needed.

Underscoring how fragile the U.S. economic recovery is, early Friday the government said the nation's economy grew at an annual rate of just 1 percent in the April-June quarter, weaker than the government's first estimate of 1.3 percent. The report renewed concerns that the U.S. might be headed for another recession.

The Fed has said it plans to keep short-term interest rates low until mid-2013. Low rates on investments like bonds make higher-risk bets such as stocks more attractive. At last year's conference in Jackson Hole, Bernanke signaled the central bank would buy more government bonds to lower long-term interest rates.

The government lowered its estimate for economic growth in the April-June quarter because of fewer exports and weaker growth in business stockpiles. That means the economy expanded at an annual rate of only 0.7 percent in the first six months of the year, the worst pace since the recession ended in June 2009.

The yield on the 10-year Treasury note spiked in the hour after Bernanke's speech. It was 2.13 percent just before the speech and rose to 2.22 percent in the hour after the text was released. The yield was 2.19 percent late Friday.

The last time the New York Stock Exchange was closed because of weather was Jan 8., 1996, when the opening was delayed until 11 a.m. because of a snowstorm. Hurricane Gloria caused a shutdown on Sept. 27, 1985.

Five stocks rose for every one that fell on the New York Stock Exchange. Volume was relatively light at 4.2 billion.


----------



## bigdog

Source: http://finance.yahoo.com

So much for Irene.

Stocks rose broadly Monday, led by insurance companies, after it became clear that the tropical storm caused far less damage than many had feared. The Dow Jones industrial average jumped 254 points.

Trading volume, or the number of shares bought and sold, was the lowest since July 26 as many traders struggled to get to work in Lower Manhattan or were still on vacation.

Insurance stocks rose sharply as analysts lowered their estimates of how much damage the storm would cause. Allstate Corp. rose 8.5 percent, Hartford Financial Services Group Inc. rose 13 percent, and Travelers Cos. Inc. rose 5.1 percent. Insurance and banking stocks in the Standard & Poor's 500 rose 4.2 percent, the most of the 10 company groups that make up the index.

Kinetic Analysis Corp., a consulting firm, sharply lowered its estimate of storm damage from $20 billion late Thursday to $7 billion late Sunday as the storm weakened. Of that amount, insurers would probably have to cover up to $3 billion, Kinetic said. That's less than the $6 billion the industry paid out after Hurricane Isabel struck the region in 2003.

"The U.S. came more or less unscathed through the hurricane," said Kim Caughey Forrest, equity research analyst at Fort Pitt Capital Group. "The cleanup isn't going to cost as much as anticipated."

Utilities companies also rose after it became clear their storm-related expenses would be lower than earlier estimates. Duke Energy Corp., which serves customers in the Carolinas, rose 1.1 percent. New York's biggest utility company, Consolidated Edison Inc., rose 1.3 percent.

The New York Stock Exchange and other major U.S. exchanges opened as usual Monday after making extensive preparations over the weekend. At the NYSE, executives brought in dozens of cots so employees could sleep there to be ready for the opening bell.

The Dow Jones industrial average rose 254.71 points, or 2.3 percent, to close at 11,539.25. It is now down just 0.3 percent for the year. It had been down as much as 7.4 percent for the year on Aug. 10.

The Standard & Poor's 500 index rose 33.28 points, or 2.8 percent, to 1,210.08. The widely used market benchmark has now gained back all of the ground it lost since hitting a 2011 low on Aug. 8, after Standard & Poor's downgraded the U.S. government's credit rating. Since then, it has risen 8.1 percent.

*The NYSE DOW NYSE DOW closed   HIGHER    +254.71     points  +2.26%      on Monday August 29*
Sym .......Last .......Change..........
Dow 11,539.25 +254.71 +2.26% 
Nasdaq 2,562.11 +82.26 +3.32% 
S&P 500 1,210.08 +33.28 +2.83% 
30-yr Bond 3.6230% +0.0890 

NYSE Volume 4,228,073,500 
Nasdaq Volume 1,648,368,500 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,129.92 -1.18 -0.02% 
DAX 5,670.07 +132.59 +2.39% 
CAC 40 3,154.20 +66.56 +2.16% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,333.70 +62.70 +1.47% 
Shanghai Comp 2,576.41 -35.78 -1.37% 
Taiwan We... 7,578.01 +132.91 +1.79% 
Nikkei 225 8,851.35 +53.57 +0.61% 
Hang Seng 19,865.11 +282.23 +1.44% 
Straits Times 2,791.89 +43.71 +1.59% 

http://finance.yahoo.com/news/Insur...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Insurers drive stocks higher; Dow gains 254

Stocks jump after damage from Irene is less than feared; insurers lead broader market higher *

Chip Cutter, AP Business Writer, On Monday August 29, 2011, 5:20 pm 

NEW YORK (AP) -- So much for Irene.

Stocks rose broadly Monday, led by insurance companies, after it became clear that the tropical storm caused far less damage than many had feared. The Dow Jones industrial average jumped 254 points.

Trading volume, or the number of shares bought and sold, was the lowest since July 26 as many traders struggled to get to work in Lower Manhattan or were still on vacation.

Insurance stocks rose sharply as analysts lowered their estimates of how much damage the storm would cause. Allstate Corp. rose 8.5 percent, Hartford Financial Services Group Inc. rose 13 percent, and Travelers Cos. Inc. rose 5.1 percent. Insurance and banking stocks in the Standard & Poor's 500 rose 4.2 percent, the most of the 10 company groups that make up the index.

Kinetic Analysis Corp., a consulting firm, sharply lowered its estimate of storm damage from $20 billion late Thursday to $7 billion late Sunday as the storm weakened. Of that amount, insurers would probably have to cover up to $3 billion, Kinetic said. That's less than the $6 billion the industry paid out after Hurricane Isabel struck the region in 2003.

"The U.S. came more or less unscathed through the hurricane," said Kim Caughey Forrest, equity research analyst at Fort Pitt Capital Group. "The cleanup isn't going to cost as much as anticipated."

Utilities companies also rose after it became clear their storm-related expenses would be lower than earlier estimates. Duke Energy Corp., which serves customers in the Carolinas, rose 1.1 percent. New York's biggest utility company, Consolidated Edison Inc., rose 1.3 percent.

The New York Stock Exchange and other major U.S. exchanges opened as usual Monday after making extensive preparations over the weekend. At the NYSE, executives brought in dozens of cots so employees could sleep there to be ready for the opening bell.

The Dow Jones industrial average rose 254.71 points, or 2.3 percent, to close at 11,539.25. It is now down just 0.3 percent for the year. It had been down as much as 7.4 percent for the year on Aug. 10.

The Standard & Poor's 500 index rose 33.28 points, or 2.8 percent, to 1,210.08. The widely used market benchmark has now gained back all of the ground it lost since hitting a 2011 low on Aug. 8, after Standard & Poor's downgraded the U.S. government's credit rating. Since then, it has risen 8.1 percent.

The technology-focused Nasdaq composite index rose 82.26, or 3.3 percent, to 2,562.11.

The Russell 2000 index, a benchmark for small companies, rose 32.86 points, or 4.7 percent, to 724.65. That suggested investors were more willing to take on risk. Small company stocks are more likely to fall in economic downturns, but they also offer the potential of larger gains if the economy does well. The Russell is still down 7.5 percent this year, nearly twice as much as the S&P 500.

Bank of America Corp. rose 8.1 percent, the most of the 30 stocks that make up the Dow average, after the bank said it would sell half of its stake in China Construction Bank Corp. The bank has been selling assets to raise cash to comply with new banking regulations.

Last week billionaire Warren Buffett's company Berkshire Hathaway Inc. said it would invest $5 billion in the bank, giving the troubled company a badly needed boost of confidence. The nation's largest bank has lost 34 percent of its value over the past year as investors worry that its liabilities from soured mortgages will get worse and that it will have to sell large amounts of stock to raise capital.

An increase in consumer spending also helped push stocks higher. The government reported that spending rose 0.8 percent in July. It was a sharp turnaround from June, when Americans spent less for the first time in nearly two years.

Volume was low as transit disruptions made it difficult for Wall Street employees to get to work. Flooding and downed trees obstructed tracks throughout the commuter rail systems that bring workers in from the Connecticut, New York and New Jersey suburbs.

About 3.6 billion shares traded hands on the New York Stock Exchange, the lowest since July 26. That's also far below the average of 4.4 billion shares this year.

Many traders were on vacation in the last week of summer before the Labor Day holiday.

European stocks jumped after two Greek banks said they would combine to better weather that country's debt crisis. Greek stocks rose 14 percent after the country's second- and third-largest lenders agreed to combine, creating the country's largest bank. Greece's government and central bank have been urging banks to merge, saying it would help them survive the country's debt crisis.

Stocks worldwide plunged in late July and early August, partly because of worries about Europe's escalating debt problems. Greece has narrowly avoided bankruptcy twice thanks to emergency loans from the International Monetary Fund and other European countries.


----------



## bigdog

Source: http://finance.yahoo.com

The mere discussion of more economic stimulus from the Federal Reserve was enough to send stocks higher Tuesday. The Dow Jones industrial average rose 20 points, its third day of gains.

Minutes from the Fed's latest policy meeting on Aug. 9 showed that central bank officials discussed a variety of options to bolster the economy, including buying more Treasury bonds. In the end, they decided to keep interest rates low until at least mid-2013.

The news that more aggressive action was being considered gave investors a reason to buy stocks. "They want to see stimulus and they hope stocks will go higher," said Joseph Saluzzi, co-head of stock trading at Themis Trading.

The Federal Reserve has purchased Treasury bonds twice in the past as a way to keep long-term interest rates low. The Fed's first bond-buying program was in 2008, at the height of the financial crisis. The second, announced last August, helped to push the Dow up 28 percent through April 29. Lower interest rates on bonds give investors an incentive to move money out of bonds and into stocks and other assets.

Stocks were mixed for much of the day Tuesday after an index of consumer confidence plunged in August to the lowest level since April 2009. Trading volume was also lighter than normal because many investors are on vacation.

The Dow Jones industrial average rose 20.70 points, or 0.2 percent, to close at 11,559.95 Tuesday. The Dow was down as many as 109 points five minutes after the consumer confidence report came out at 10 a.m. It traded mixed for most of the day and turned higher in the last hour of trading. The Dow has risen for three days straight, and six out of the last seven.

Boeing Co. rose 2.2 percent, the most of the 30 companies in the Dow, after the aircraft maker said it received approval from its board to build a version of its workhorse 737 jet with a redesigned engine. That should help it compete better with rival Airbus.

The Standard & Poor's 500 rose 2.84 points, or 0.2 percent, to 1,212.92. The Nasdaq composite index rose 14, or 0.6 percent, to 2,576.11.

*The NYSE DOW NYSE DOW closed   HIGHER     +20.70        points  +0.18%   on Tuesday August 30*
Sym .......Last .......Change..........
Dow 11,559.95 +20.70 +0.18% 
Nasdaq 2,576.11 +14.00 +0.55% 
S&P 500 1,212.92 +2.84 +0.23% 
30-yr Bond 3.5120% -0.1110 

NYSE Volume 4,574,930,000 
Nasdaq Volume 1,891,909,250 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,268.66 +138.74 +2.70% 
DAX 5,643.92 -26.15 -0.46% 
CAC 40 3,159.74 +5.54 +0.18% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 	 4,341.40 	 +7.70 	+0.18%
Shanghai Comp 	 2,566.59 	-9.82 	-0.38%
Taiwan We... 	 7,646.19 	 +68.18 	+0.90%
Nikkei 225 	 8,953.90 	 +102.55 	+1.16%
Hang Seng 	 20,204.17 	 +339.06 	+1.71%
Straits Times 	 2,791.89 	 

http://finance.yahoo.com/news/Stock...1.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Stocks rise on hopes for more stimulus from Fed

Stocks turn higher after Fed minutes show some officials pushed for more economic stimulus *

Chip Cutter, AP Business Writer, On Tuesday August 30, 2011, 5:14 pm EDT 

NEW YORK (AP) -- The mere discussion of more economic stimulus from the Federal Reserve was enough to send stocks higher Tuesday. The Dow Jones industrial average rose 20 points, its third day of gains.

Minutes from the Fed's latest policy meeting on Aug. 9 showed that central bank officials discussed a variety of options to bolster the economy, including buying more Treasury bonds. In the end, they decided to keep interest rates low until at least mid-2013.

The news that more aggressive action was being considered gave investors a reason to buy stocks. "They want to see stimulus and they hope stocks will go higher," said Joseph Saluzzi, co-head of stock trading at Themis Trading.

The Federal Reserve has purchased Treasury bonds twice in the past as a way to keep long-term interest rates low. The Fed's first bond-buying program was in 2008, at the height of the financial crisis. The second, announced last August, helped to push the Dow up 28 percent through April 29. Lower interest rates on bonds give investors an incentive to move money out of bonds and into stocks and other assets.

Stocks were mixed for much of the day Tuesday after an index of consumer confidence plunged in August to the lowest level since April 2009. Trading volume was also lighter than normal because many investors are on vacation.

The Dow Jones industrial average rose 20.70 points, or 0.2 percent, to close at 11,559.95 Tuesday. The Dow was down as many as 109 points five minutes after the consumer confidence report came out at 10 a.m. It traded mixed for most of the day and turned higher in the last hour of trading. The Dow has risen for three days straight, and six out of the last seven.

Boeing Co. rose 2.2 percent, the most of the 30 companies in the Dow, after the aircraft maker said it received approval from its board to build a version of its workhorse 737 jet with a redesigned engine. That should help it compete better with rival Airbus.

The Standard & Poor's 500 rose 2.84 points, or 0.2 percent, to 1,212.92. The Nasdaq composite index rose 14, or 0.6 percent, to 2,576.11.

Companies that rely most heavily on consumer spending had some of the biggest losses. Retailers Kohl's Corp. and Lowe's Cos. each fell 2.2 percent. Best Buy Co. Inc. fell 0.8 percent.

The sharp fall in the measure of how U.S. consumers feel about the economy could mean weaker sales for retailers and makers of consumer goods like clothes and shoes. Retailers are in the midst of the critical back-to-school shopping season, which can account for as much as 25 percent of their annual revenue.

Trading volume, or the number of shares bought and sold, was lower than usual. About 3.97 billion shares exchanged hands on the New York Stock Exchange, almost a third less than Aug. 8, when stocks plunged on massive volume after the U.S. government's credit rating was downgraded.

Low volume is worrisome because it suggests that relatively few investors are driving the stock market's gains or losses. That creates the risk for bigger price swings, said Stephen Carl, principal and head of equity trading at The Williams Capital Group. A lack of volume also indicates that some investors don't believe that stocks are worth buying right now.

Stocks have swung widely in August. The Dow was down as much as 7.4 percent for the year on Aug. 10, but it is now down 0.2 percent. On Monday the Dow soared 254 points, its fourth-largest gain this year. Insurers rose the most after it became clear the damage from Tropical Storm Irene wasn't as bad as analysts had feared.

Bond prices have also been volatile. The yield on the 10-year Treasury note briefly fell to a record low below 2 percent on Aug. 18 on a very weak report on manufacturing in the Northeast from the Philadelphia Federal Reserve. On Tuesday, the yield fell to 2.18 percent, down from 2.27 percent late Monday.


----------



## bigdog

Source: http://finance.yahoo.com

It was a quiet end to a wild month for financial markets.

Stocks edged higher for a fourth straight day Wednesday on a report that factory orders surged in July. The Dow Jones industrial average turned higher for the year. The Dow's winning streak ended a tumultuous August that included four consecutive days of swings of 400 points or more, a first in the history of the index.

A surge in factory orders indicated to investors that the manufacturing industry is still healthy. Orders rose 2.4 percent in July, the largest increase since March, after falling 0.4 percent in June. That decline caused worries that manufacturing, one of the best-performing areas of the U.S. economy since the recession ended two years ago, might be starting to sputter.

The Dow rose 53.58 points, or 0.5 percent, to end at 11,613.53. It fell 4.4 percent for the month, although it is now up 0.3 percent for the year. Aluminum maker Alcoa Inc. rose 3.6 percent, the most of the 30 companies that make up the Dow average.

Joy Global rose 1.3 percent after the mining equipment maker said its earnings rose 46 percent because of strong global demand for commodities like copper and coal.

That helped to push up other stocks in the mining and commodities industry. Equipment giant Caterpillar Inc. rose 1.3 percent.

The Standard & Poor's 500 index rose 5.97, or 0.5 percent, to 1,218.89. It fell 5.7 percent for the month. Financial stocks were the worst performers in August as many worked to raise capital to comply with new regulations.

On Wednesday, nine of the 10 company groups that make up the index rose. The telecommunications industry was the only one to fall.

*The NYSE DOW NYSE DOW closed   HIGHER   +53.58      points  +0.46%    on Wednesday August 31*
Sym .......Last .......Change..........
Dow 11,613.53 +53.58 +0.46% 
Nasdaq 2,579.46 +3.35 +0.13% 
S&P 500 1,218.89 +5.97 +0.49% 
30-yr Bond 3.5920% +0.0800 

NYSE Volume 5,274,772,000 
Nasdaq Volume 2,051,362,375 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,394.53 +125.87 +2.39% 
DAX 5,784.85 +140.93 +2.50% 
CAC 40 3,256.76 +97.02 +3.07% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,369.90 +28.50 +0.66% 
Shanghai Comp 2,567.34 +0.75 +0.03% 
Taiwan We... 7,741.36 +95.17 +1.24% 
Nikkei 225 8,955.20 +1.30 +0.01% 
Hang Seng 20,534.85 +330.68 +1.64% 
Straits Times 2,885.26 +93.37 +3.34% 

http://finance.yahoo.com/news/Dow-u...9.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Dow up for a fourth day, turns positive for 2011

Stocks climb on surge in factory orders; major indexes still have worst Aug. since 2001 *

Chip Cutter, AP Business Writer, On Wednesday August 31, 2011, 5:53 pm 

NEW YORK (AP) -- It was a quiet end to a wild month for financial markets.

Stocks edged higher for a fourth straight day Wednesday on a report that factory orders surged in July. The Dow Jones industrial average turned higher for the year. The Dow's winning streak ended a tumultuous August that included four consecutive days of swings of 400 points or more, a first in the history of the index.

A surge in factory orders indicated to investors that the manufacturing industry is still healthy. Orders rose 2.4 percent in July, the largest increase since March, after falling 0.4 percent in June. That decline caused worries that manufacturing, one of the best-performing areas of the U.S. economy since the recession ended two years ago, might be starting to sputter.

The Dow rose 53.58 points, or 0.5 percent, to end at 11,613.53. It fell 4.4 percent for the month, although it is now up 0.3 percent for the year. Aluminum maker Alcoa Inc. rose 3.6 percent, the most of the 30 companies that make up the Dow average.

Joy Global rose 1.3 percent after the mining equipment maker said its earnings rose 46 percent because of strong global demand for commodities like copper and coal.

That helped to push up other stocks in the mining and commodities industry. Equipment giant Caterpillar Inc. rose 1.3 percent.

The Standard & Poor's 500 index rose 5.97, or 0.5 percent, to 1,218.89. It fell 5.7 percent for the month. Financial stocks were the worst performers in August as many worked to raise capital to comply with new regulations.

On Wednesday, nine of the 10 company groups that make up the index rose. The telecommunications industry was the only one to fall.

AT&T Inc. plunged 3.9 percent after the Justice Department filed a lawsuit to stop the company's $39 billion merger with rival T-Mobile USA. Sprint Nextel Corp., which opposed the deal, rose 5.9 percent.

The Nasdaq composite index rose 3.35, or 0.1 percent, to 2,579.46. It fell 6.4 percent for the month.

The Dow, S&P and Nasdaq each had their worst August since 2001.

The market is closing out an extraordinarily volatile month. The Dow was as high of 12,132 this month and as low of 10,719 in the span of 23 trading days.

The volatility that began in late July seeped into August amid the debate in Washington over extending the country's borrowing limit to avoid a debt default. The declines gained speed the week ended Aug. 5, when all three major indexes entered a correction, or a decline of 10 percent or more from a recent peak. Investors feared that Italy or Spain -- Europe's third and fourth largest economies -- would be unable to repay their debts. Some economists began to worry that the U.S. would slip into another recession.

Then came even worse news. Standard & Poor's lowered the nation's credit rating, and stocks plunged. The S&P 500 hit a low for 2011 on Aug. 8 and the Dow had four consecutive days of 400-point swings, the first time that's happened in its 115-year history.

Stocks had their first positive week in a month the week ended Aug. 26 after Federal Reserve Chairman Ben Bernanke said the U.S. remains on pace for long-term economic growth. The Dow has risen for seven of the last eight days.

Bond prices have also been volatile. The yield on the 10-year Treasury note briefly fell to 1.98 percent on Aug. 18, a record low, on weak manufacturing data from the Philadelphia Federal Reserve. On Wednesday, the yield rose to 2.21 percent from 2.18 percent late Tuesday.

Some investors chose to avoid the swings in stocks and bonds by parking their money in gold, but even that wasn't entirely a safe bet. Gold hit a record high of $1,891.90 an ounce Aug. 22. Two days later, it fell $104 to $1,757.30 an ounce. It rose $1.90 to $1,831.70 an ounce Wednesday.

Rex Macey, chief investment officer of Wilmington Trust, said he expected more sudden turns in the stock market until investors can determine if the U.S. economy is headed for another recession or a recovery.

"When you're on the edge of growth versus recession, that's a big difference," he said. "Being near the precipice means that markets are going to be more volatile."


----------



## bigdog

Source: http://finance.yahoo.com

A four-day rally on the stock market ended Thursday with a slump led by banks. Many investors also sold stocks ahead of the government's monthly jobs report Friday, fearful that it might revive worries that the U.S. could enter another recession.

Goldman Sachs fell 3.5 percent after regulators announced enforcement actions against a former subsidiary of the bank over mortgage and foreclosure practices. Bank stocks fell more than the rest of the market as investors worried that other banks might face similar reprisals. Financial stocks in the S&P 500 dropped 2.4 percent, the most of the 10 company groups that make up the index.

"There's obviously a lot of fear in the marketplace," said Ann Miletti, managing director and senior portfolio manager at Wells Capital Management. "Right now, the market's just lacking confidence."

The Dow Jones industrial average fell 119.96 points, or 1 percent, to close at 11,493.57. It rose as many as 103 points shortly after 10 a.m., when a key manufacturing report showed evidence of growth in August.

Retailers including Macy's and Costco rose after reporting strong sales last month, despite wild swings in the stock market and worries about the economy.

Goldman Sachs, in a settlement with a New York state banking regulator, agreed to stop controversial mortgage-related practices such as the "robo-signing" of documents. The settlement was a condition to Goldman's sale of its Litton Loan Servicing subsidiary, where the practices occurred.

*The NYSE DOW NYSE DOW closed -119.96  points  LOWER  -1.03%  on Thursday September 1*
Sym .......Last .......Change..........
Dow 11,493.57 -119.96 -1.03% 
Nasdaq 2,546.04 -33.42 -1.30% 
S&P 500 1,204.42 -14.47 -1.19% 
30-yr Bond 3.5130% -0.0790 

NYSE Volume 4,780,403,500 
Nasdaq Volume 1,789,351,875 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,418.65 +24.12 +0.45% 
DAX 5,730.63 -54.22 -0.94% 
CAC 40 3,265.83 +9.07 +0.28% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,382.70 +12.80 +0.29% 
Shanghai Comp 2,556.04 -11.30 -0.44% 
Taiwan We... 7,757.76 +16.40 +0.21% 
Nikkei 225 9,060.80 +105.60 +1.18% 
Hang Seng 20,585.33 +50.48 +0.25% 
Straits Times 2,867.18 -18.08 -0.63% 

http://finance.yahoo.com/news/Banks...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Banks stocks lead market lower, ending 4-day rally

Stock indexes turn lower, led by banks; Goldman Sachs falls on mortgage settlement *

Chip Cutter, AP Business Writer, On Thursday September 1, 2011, 5:18 pm 

NEW YORK (AP) -- A four-day rally on the stock market ended Thursday with a slump led by banks. Many investors also sold stocks ahead of the government's monthly jobs report Friday, fearful that it might revive worries that the U.S. could enter another recession.

Goldman Sachs fell 3.5 percent after regulators announced enforcement actions against a former subsidiary of the bank over mortgage and foreclosure practices. Bank stocks fell more than the rest of the market as investors worried that other banks might face similar reprisals. Financial stocks in the S&P 500 dropped 2.4 percent, the most of the 10 company groups that make up the index.

"There's obviously a lot of fear in the marketplace," said Ann Miletti, managing director and senior portfolio manager at Wells Capital Management. "Right now, the market's just lacking confidence."

The Dow Jones industrial average fell 119.96 points, or 1 percent, to close at 11,493.57. It rose as many as 103 points shortly after 10 a.m., when a key manufacturing report showed evidence of growth in August.

Retailers including Macy's and Costco rose after reporting strong sales last month, despite wild swings in the stock market and worries about the economy.

Goldman Sachs, in a settlement with a New York state banking regulator, agreed to stop controversial mortgage-related practices such as the "robo-signing" of documents. The settlement was a condition to Goldman's sale of its Litton Loan Servicing subsidiary, where the practices occurred.

Also Thursday, the Federal Reserve said it ordered Goldman to review how foreclosures were handled at Litton. The Fed said there was a "pattern of misconduct and negligence" at Litton.

Stock indexes traded mixed for much of the day but turned lower after the Fed's announcement on Goldman Sachs came out at 1:30 p.m. They drifted lower for the rest of the afternoon.

Other banks also fell. Citigroup Inc. lost 3.4 percent and PNC Financial Services Group Inc. fell 3.2 percent. Bank of America Corp., which is facing many lawsuits over its dealings in mortgage-backed securities, also fell 3.2 percent.

The regulatory actions showed that problems related to the mortgage crisis in 2008 remain far from over, said Quincy Krosby, market strategist at Prudential Financial. She also said investors were nervous ahead of the Labor Department's jobs report.

The Standard & Poor's 500 index fell 14.47 points, or 1.2 percent, to 1,204.42.

SAIC Inc. fell 13.5 percent, the most in the S&P 500, after the technology company issued a full-year earnings forecast that was below analysts' expectations. The company, which provides engineering and technology services to the military and other agencies, cited tightening government budgets.

The Nasdaq composite index fell 33.42, or 1.3 percent, to 2,546.04.

All three indexes had their worst August since 2001 after fears of an economic slowdown in the U.S. and debt issues in Europe put investors on edge.

Trading volume was relatively light at 4.3 billion shares. Many traders were on vacation. Low volume suggests that relatively few investors were driving the market's gains and losses.

Rob Lutts, president and chief investment officer of Cabot Money Management, said he expected volume to remain very low until early next week, when many traders return to work after Labor Day. "That's when we'll see what's really going on," Lutts said.

Retailers rose after several companies reported sales gains that beat analysts' estimates. August is an important month for back-to-school shopping, which can account for up to 25 percent of retailers' annual revenue. Macy's Inc. rose 2.1 percent; Costco Wholesale Corp. rose 1.2 percent.

About three stocks fell for every one that rose on the New York Stock Exchange.


----------



## bigdog

Source: http://finance.yahoo.com

A dismal jobs report caused stocks to plunge Friday.

The Dow Jones industrial average dropped 253 points, or 2.2 percent, wiping out its gain for the week. All 30 stocks in the average fell.

No jobs were added in the U.S. last month, the government said early Friday. It was the worst employment report in 11 months and renewed fears that another recession could be on the way. The yield on the 10-year Treasury note briefly fell below 2 percent and gold jumped $48 an ounce as cash flowed into investments seen as less risky than stocks.

"It's certainly ugly," said Jeff Kleintop, chief market strategist at LPL Financial.

The U.S. jobs news came out midday in Europe, dragging stock markets lower in afternoon trading. Indexes in Germany and France were already sinking on news that talks between Greece and international lenders over that country's debt crisis were breaking down. Germany's DAX closed down 3.4 percent; France's CAC-40 lost 3.6 percent.

The lack of hiring in the U.S. last month surprised investors. Economists were expecting 93,000 jobs to be added. Previously reported hiring figures for June and July were revised lower. The average work week declined and hourly earnings fell. The unemployment rate held steady at 9.1 percent. The rate has been above 9 percent in all but two months since May 2009.

*The NYSE DOW NYSE DOW closed    -253.31     points     LOWER  or   -2.20%    on Friday September  1*
Sym .......Last .......Change..........
Dow 11,240.26 -253.31 -2.20% 
Nasdaq 2,480.33 -65.71 -2.58% 
S&P 500 1,173.97 -30.45 -2.53% 
30-yr Bond 3.3110% -0.2020 

NYSE Volume 4,404,632,500 
Nasdaq Volume 1,606,395,500 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,292.03 -126.62 -2.34% 
DAX 5,538.33 -192.30 -3.36% 
CAC 40 3,148.53 -117.30 -3.59% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,321.50 -61.20 -1.40% 
Shanghai Comp 2,528.28 -27.76 -1.09% 
Taiwan We... 7,757.06 -0.70 -0.01% 
Nikkei 225 8,950.74 -110.06 -1.21% 
Hang Seng 20,212.91 -372.42 -1.81% 
Straits Times 2,843.09 -24.09 -0.84% 

http://finance.yahoo.com/news/Stock...7.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks plunge after US hiring dries up in August

US stocks dive after government says that hiring halted in August, adding to recession fears *

Daniel Wagner and Matthew Craft, AP Business Writer, On Friday September 2, 2011, 6:12 pm EDT 

NEW YORK (AP) -- A dismal jobs report caused stocks to plunge Friday.

The Dow Jones industrial average dropped 253 points, or 2.2 percent, wiping out its gain for the week. All 30 stocks in the average fell.

No jobs were added in the U.S. last month, the government said early Friday. It was the worst employment report in 11 months and renewed fears that another recession could be on the way. The yield on the 10-year Treasury note briefly fell below 2 percent and gold jumped $48 an ounce as cash flowed into investments seen as less risky than stocks.

"It's certainly ugly," said Jeff Kleintop, chief market strategist at LPL Financial.

The U.S. jobs news came out midday in Europe, dragging stock markets lower in afternoon trading. Indexes in Germany and France were already sinking on news that talks between Greece and international lenders over that country's debt crisis were breaking down. Germany's DAX closed down 3.4 percent; France's CAC-40 lost 3.6 percent.

The lack of hiring in the U.S. last month surprised investors. Economists were expecting 93,000 jobs to be added. Previously reported hiring figures for June and July were revised lower. The average work week declined and hourly earnings fell. The unemployment rate held steady at 9.1 percent. The rate has been above 9 percent in all but two months since May 2009.

Kleintop said the jobs report didn't change his view that the economy was headed for a stretch of weak economic growth, not a recession. He said the figures were likely skewed by unusual events that may have made employers reluctant to add jobs in August.

The Labor Department's report relies on data collected from surveys of households and businesses in the second week of August. That's right after Standard & Poor's removed the country's AAA credit rating and fears mounted that Europe's banking crisis could spread to the U.S. Television screens were filled with images of riots in London.

"I'm not surprised that businesses weren't doing too much hiring in that environment," Kleintop said.

The Dow Jones industrial average lost 253.31 points to close at 11,240.26. It was the biggest fall in two weeks. The Dow gained 329 points in the first three days of the week, turning the index positive for the year on Wednesday. Its two-day drop of 373 on Thursday and Friday left it down 0.4 percent for the week.

The Standard & Poor's 500 index fell 30.45, or 2.5 percent, to 1,173.97. The S&P is down 0.2 percent for the week. Both the Dow and S&P have fallen five of the past six weeks.

The Nasdaq composite fell 65.71, or 2.6 percent, to 2,480.33. The technology-heavy index eked out a gain of 0.48 point for the week.

Cash poured into Treasurys and gold, assets believed to be safer bets during a weak economy. The yield on the 10-year Treasury note fell to 2 percent, and briefly traded below that level. It was 2.14 percent shortly before the report came out. Yields fall when demand for bonds increases.

The price of gold rose 2.8 percent to $1,880. Fears that a stalling economy could reduce demand for oil and gasoline pushed benchmark crude oil down $2.48, or 2.8 percent, to $86.45.

Trading volume was thin ahead of the Labor Day weekend at 3.8 billion shares, 11 percent below the average volume for the year. Low volume can result in larger-than-usual moves in stock indexes. When fewer traders are active in the market, large buy and sell orders can move stock prices more than they would on a typical day.

The VIX, a measure of stock market volatility, rose 6.6 percent to 34. The index has fallen from a recent high of 48 on Aug. 8, when the Dow lost 634 points following a downgrade of the U.S. government's credit rating. The VIX traded below 20 for most of the year.

Bank of America Corp., the country's largest bank, sank 8 percent, or 66 cents, to $7.25 after The Wall Street Journal reported that regulators had asked it to develop emergency plans in case the bank's condition worsens. Bank of America is down 45 percent this year, largely on concerns about legal costs related to shoddy mortgage investments that it sold.

Other big banks dropped on separate reports that the government is preparing to sue some of them, also over mortgage investments they sold that lost value when the housing market collapsed. The Federal Housing Finance Agency, the regulator of Fannie Mae and Freddie Mac, announced the lawsuit against 17 banks after the market closed.

The FHFA says the banks lied about the quality of loans that they pooled and sold as securities. Morgan Stanley fell 97 cents, or 5.7 percent, to $15.96. Citigroup Inc. lost $1.60, or 5.3 percent, to $28.40 and Goldman Sachs Group Inc. fell $5.10, or 4.6 percent, to $107.06.

Peter Tchir, a former trader who now runs the hedge fund TF Market Advisors, said stocks will likely be dragged down in the coming weeks by high unemployment, weak spending and a possible default by Greece, which he sees as increasingly likely.

"I expect that the S&P will go back below 1,100 sometime in September," he said. "Whether we hit a recession or a contraction or not, it'll remain weak, and Europe is going to hit a wall where the banks are going to have to take losses." That would also hurt U.S. banks, he said.

Netflix Inc. plunged 9 percent, or $20.16, to $213.11 after talks collapsed with a key provider of movies and TV shows. Starz Entertainment said late Thursday that it won't renew a contract that allows Netflix to stream recently released movies and shows.

1582


----------



## bigdog

Source: http://finance.yahoo.com

World stock markets took a beating Monday over fears that the U.S. economy was heading back into a recession just as the European debt crisis was heating up and the eurozone's economic indicators were slumping.

Any troubles in the world's largest economy cast a long shadow over the markets, and a report Friday that the U.S. economy failed to add any new jobs in August caused European and Asian stock markets to sink sharply Monday.

But the news from Europe was also discouraging. Wall Street, which was closed Monday due to the Labor Day holiday, braced for losses Tuesday after the yields in so-called peripheral eurozone countries -- Greece, Italy and Spain -- rose sharply against those of Germany, whose bonds are widely considered a safe haven.

Although retail sales in the 17-nation eurozone rose unexpectedly in July, a survey of the services sector Monday showed a slowdown across the continent for the fifth consecutive month. The purchasing managers' index for the eurozone showed the services sector was still growing -- unlike the manufacturing sector -- but only barely. That will add pressure on the European Central Bank to keep interest rates on hold when it meets this week.

*The NYSE DOW WAS CLOSED on MONDAY September 5 FOR LABOUR DAY HOLIDAY*
Sym .......Last .......Change..........
Dow 11,240.26 
Nasdaq 2,480.33 
S&P 500 1,173.97 
30-yr Bond 3.3110% 

NYSE Volume 4,404,632,500 
Nasdaq Volume 1,606,395,500 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,102.58 -189.45 -3.58% 
DAX 5,246.18 -292.15 -5.28% 
CAC 40 2,999.54 -148.99 -4.73% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,224.20 -97.30 -2.25% 
Shanghai Comp 2,478.74 -49.54 -1.96% 
Taiwan We... 7,551.57 -205.49 -2.65% 
Nikkei 225 8,784.46 -166.28 -1.86% 
Hang Seng 19,616.40 -596.51 -2.95% 
Straits Times 2,770.47 -72.62 -2.55% 

http://finance.yahoo.com/news/US-recession-fears-savage-apf-1366856048.html?x=0

*US recession fears savage world financial markets

Wall Street braces for a rocky day as world markets fall sharply on US recession fears *

Carlo Piovano, AP Business Writer, On Monday September 5, 2011, 4:58 pm EDT 

LONDON (AP) -- World stock markets took a beating Monday over fears that the U.S. economy was heading back into a recession just as the European debt crisis was heating up and the eurozone's economic indicators were slumping.

Any troubles in the world's largest economy cast a long shadow over the markets, and a report Friday that the U.S. economy failed to add any new jobs in August caused European and Asian stock markets to sink sharply Monday.

But the news from Europe was also discouraging. Wall Street, which was closed Monday due to the Labor Day holiday, braced for losses Tuesday after the yields in so-called peripheral eurozone countries -- Greece, Italy and Spain -- rose sharply against those of Germany, whose bonds are widely considered a safe haven.

Although retail sales in the 17-nation eurozone rose unexpectedly in July, a survey of the services sector Monday showed a slowdown across the continent for the fifth consecutive month. The purchasing managers' index for the eurozone showed the services sector was still growing -- unlike the manufacturing sector -- but only barely. That will add pressure on the European Central Bank to keep interest rates on hold when it meets this week.

"There's so much uncertainty, so much fear, that investors don't know what to do," said David Kotok, chairman and chief investment officer at Cumberland Advisors. "I don't remember the last time stocks were so cheap and nobody wanted them."

Investors were also shaken by signs that the Italian government's commitment to its austerity program is wavering. Prime Minister Silvio Berlusconi's government has backtracked on some deficit-cutting measures, prompting EU officials to urge Italy to stick to its promised plan.

The difference in interest rates between the Greek and benchmark German 10-year bonds, known as the spread, spiraled to new records on Monday, topping 17.3 percentage points. Yields on the Greek bonds were above 18 percent.

Mario Draghi, the incoming chief of the European Central Bank, told a conference in Paris that among the common currency's problems was a lack of coordinated fiscal policies and that the solution was more integration.

He dismissed the idea of eurobonds -- debt issued jointly by the eurozone countries. Some have argued this would help weaker countries borrow more easily because they wouldn't have to pay such high interest rates. But stable countries like Germany would likely see their rates rise.

Instead, Draghi suggested the eurozone should adopt rules that would require more budget discipline.

Renewed jitters over the eurozone debt crisis also contributed to the slump in financial stocks amid concerns the banks would need to raise new capital. Deutsche bank closed down 8.9 percent in Frankfurt, while Societe Generale in Paris shed 8.6 percent.

The U.S. unemployment crisis has prompted President Barack Obama to schedule a major speech Thursday night to propose steps to stimulate hiring. Until then, however, traders coming back from the U.S. holiday weekend will have little to hold onto.

The August jobs figure was far below economists' already tepid expectations for 93,000 new U.S. jobs and renewed concerns that the U.S. recovery is not only slowing but actually unwinding. U.S. hiring figures for June and July were also revised lower, only adding to the gloom.

Many traders have already pulled out of any risky investments -- such as stocks, particularly financial ones, the euro and emerging market currencies -- and pile into safe havens: U.S. Treasuries, the dollar, the Japanese yen and gold.

With Wall Street closed, investors focused their selling in Asia and Europe, where the equity losses Monday were some of the heaviest this year.

"We've got some rough riding ahead," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago, adding he was "concerned that we could see a second wave of selling when most traders are back at their desks."

Dow futures were down 1.8 percent at 11,010 points while the broader S&P 500 futures were 2.0 lower at 1,145.70.

After Asian indexes closed lower, with the Japan's Nikkei 225 shedding 1.9 percent, European shares booked sharp losses. Britain's FTSE 100 closed the day down 3.6 percent to 5,102.58. Germany's DAX slumped a massive 5.3 percent to 5,246.18, and France's CAC-40 tumbled 4.7 percent to 2,999.54.

The health of the U.S. economy is crucial for the wider world because consumer spending there accounts for a fifth of global economic activity. The U.S. imports huge amounts from Japan and China and is closely linked at all levels with the European market. The U.S. has seen a slump in consumer and business sentiments.

Traders were hoping for signs that the Federal Reserve might take action at its September meeting to support the economy -- perhaps a third round of bond purchases, dubbed quantitative easing III or QE3, analysts said.

"Right now the possibility has increased," said Linus Yip, a strategist at First Shanghai Securities in Hong Kong. "I think they have to do something. The markets are expecting QE3."

Banking stocks were among the hardest hit Monday, partly because the U.S. government on Friday sued 17 financial firms for selling Fannie Mae and Freddie Mac billions of dollars worth of mortgage-backed securities that turned toxic when the housing market collapsed.

Among those targeted by the lawsuits were Bank of America Corp., Citigroup Inc., JP Morgan Chase & Co., and Goldman Sachs Group Inc. Large European banks including The Royal Bank of Scotland, Barclays Bank and Credit Suisse were also sued.

In Asia, Australia's S&P/ASX 200 followed the broaden trend to close down 2.4 percent and South Korea's Kospi slid 4.4 percent. Hong Kong's Hang Seng slid 3 percent. Benchmarks in Singapore, Taiwan, New Zealand and the Philippines also were down.

Shanghai's benchmark Composite Index down 2 percent to 2,478.74, its lowest close in 13 months. The Shenzhen Composite Index lost 2.4 percent.

In currencies, the euro weakened to $1.4100 from $1.4187 in New York late Friday. The dollar was roughly flat at 76.87 yen. Last month, the dollar fell under 76 yen, which was a new post-World War II high for the Japanese currency.

Benchmark oil for October delivery was down $2.12 to $84.33 a barrel in electronic trading on the New York Mercantile Exchange. Crude fell $2.48 to settle at $86.45 on Friday.

In London, Brent crude for October delivery was down $1.63 at $110.70 on the ICE Futures exchange.


----------



## bigdog

Source: http://finance.yahoo.com

Europe's debt problems rumbled through global financial markets again Tuesday.

U.S. stocks fell sharply in early trading when it appeared that European markets were heading for a second straight day of deep losses. The Dow Jones industrial average lost as many as 307 points by 10:45 a.m. Late-day recoveries in both the U.S. and Europe left indexes with relatively modest losses. The Dow ended down 101 points.

"It's becoming a pattern that the U.S. market breathes a sign of relief once trading in Europe is finished," said Quincy Krosby, market strategist at Prudential Financial.

Europe's debt problems, which have simmered for more than a year, are deepening. Bailouts for Ireland and Greece have not quelled fears that either country will default on its loans, an event that could lead to the collapse of the euro.

The Stoxx 600 Europe index lost 4.1 percent Monday, while U.S. markets were closed for Labor Day, as traders worried that Europe's debt problems could slow economic growth around the world. Italy was hit by a general strike Tuesday ahead of votes this week on a budget-cutting package needed to shore up that country's finances.

Peter Boockvar, equity strategist at Miller Tabak & Co., said investors are becoming more fearful that the Greek government may not pay bond investors back. "Officials are coming to the realization that there's no way Greece can pay its money back and maybe we're better off just letting it default," he said.

September is historically the worst month for the stock market. The Dow has dropped an average of 0.9 percent each September since 1950, according to the Stock Trader's Almanac.

*The NYSE DOW closed   -100.96     points    LOWER  or  -0.90%     on Tuesday September  6*
Sym .......Last .......Change..........
Dow 11,139.30 -100.96 -0.90% 
Nasdaq 2,473.83 -6.50 -0.26% 
S&P 500 1,165.24 -8.73 -0.74% 
30-yr Bond 3.2590% -0.0520 

NYSE Volume 5,103,987,500 
Nasdaq Volume 1,766,562,750 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,156.84 +54.26 +1.06% 
DAX 5,193.97 -52.21 -1.00% 
CAC 40 2,965.64 -33.90 -1.13% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,160.70 -63.50 -1.50% 
Shanghai Comp 2,470.52 -8.21 -0.33% 
Taiwan We... 7,367.19 -184.38 -2.44% 
Nikkei 225 8,590.57 -193.89 -2.21% 
Hang Seng 19,710.50 +94.10 +0.48% 
Straits Times 2,774.33 +1.16 +0.04% 

http://finance.yahoo.com/news/Stock...9.html?x=0&sec=topStories&pos=6&asset=&ccode=

*Stocks fall again as Europe's debt worries deepen

Stocks fall on worries over Europe's debt; banks drop after being sued by regulators *

David K. Randall, AP Business Writer, On Tuesday September 6, 2011, 5:10 pm 

NEW YORK (AP) -- Europe's debt problems rumbled through global financial markets again Tuesday.

U.S. stocks fell sharply in early trading when it appeared that European markets were heading for a second straight day of deep losses. The Dow Jones industrial average lost as many as 307 points by 10:45 a.m. Late-day recoveries in both the U.S. and Europe left indexes with relatively modest losses. The Dow ended down 101 points.

"It's becoming a pattern that the U.S. market breathes a sign of relief once trading in Europe is finished," said Quincy Krosby, market strategist at Prudential Financial.

Europe's debt problems, which have simmered for more than a year, are deepening. Bailouts for Ireland and Greece have not quelled fears that either country will default on its loans, an event that could lead to the collapse of the euro.

The Stoxx 600 Europe index lost 4.1 percent Monday, while U.S. markets were closed for Labor Day, as traders worried that Europe's debt problems could slow economic growth around the world. Italy was hit by a general strike Tuesday ahead of votes this week on a budget-cutting package needed to shore up that country's finances.

Peter Boockvar, equity strategist at Miller Tabak & Co., said investors are becoming more fearful that the Greek government may not pay bond investors back. "Officials are coming to the realization that there's no way Greece can pay its money back and maybe we're better off just letting it default," he said.

September is historically the worst month for the stock market. The Dow has dropped an average of 0.9 percent each September since 1950, according to the Stock Trader's Almanac.

Traders expect the trend to hold true this year as uncertainty continues over Europe's debt crisis and the stagnating U.S. economy. The U.S. government reported Friday that there was no job growth last month. It was the worst reading on jobs since September 2010.

The Dow fell 100.96 points, or 0.9 percent, to 11,139.30. It's down 4 percent so far this month, its worst start to September since 2002.

The Standard and Poor's 500 index dropped 8.73, or 0.7 percent, to 1,165.24. The Nasdaq composite fell 6.50, or 0.2 percent, to 2,473.83.

Pfizer Inc., Caterpillar Inc. and Johnson & Johnson were the only stocks among the 30 that make up the Dow to rise.

Signs of growth in the U.S. service sector helped tame concerns about another US recession. The Institute for Supply Management said the service sector grew more than analysts had expected in August. Growth in that part of the economy, which employs nearly 90 percent of America's work force, fell the three previous months.

Bank stocks fell more than the overall market. Federal regulators filed lawsuits late Friday against 17 major banks, saying they sold Fannie Mae and Freddie Mac mortgage-backed securities that lost value when the housing market collapsed. Bank of America Corp. and JPMorgan Chase & CO. each lost nearly 4.

Assets that traders see as more likely to hold their value during a weak economy rose. The yield on the 10-year Treasury note fell to 1.97 percent. On Monday the yield fell to 1.91 percent in Asian trading, the lowest since the Federal Reserve Bank of St. Louis began keeping daily records in 1962. Bond yields fall when their prices rise.

Three stocks fell for every one that rose on the New York Stock Exchange. Volume was above average at 4.4 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

A broad rally broke a three-day losing streak in the stock market Wednesday as fears about Europe's debt crisis ebbed.

Stocks rose sharply after a German court backed the country's role in bailing out other European nations. The Dow Jones industrial average jumped 200 points in the first hour of trading and continued to climb throughout the day, ending up 275 points. The afternoon gains came after Italy's Senate approved a deficit-cutting package and the Federal Reserve reported that U.S. business conditions are improving.

Traders were also speculating that President Barack Obama would announce a $300 billion jobs package made up of tax cuts, state aid and infrastructure spending in an address to Congress on Thursday night.

The Dow and other U.S. indexes fell over the previous three days on worries over weakness in the U.S. job market and concerns that Europe's debt woes could lead to a global economic recession.

"The market has been pricing in an out-and-out recession, so any hints that policy issues might be solved is a plus," said Brian Gendreau, market strategist at Cetera Financial Group

The Dow surged 275.56 points, or 2.5 percent, to close at 11,414.86. All 30 stocks in the Dow average rose.

The Standard and Poor's 500 index jumped 33.38, or 2.9 percent, to 1,198.62. All 10 company groups that make up the S&P index rose. The Nasdaq composite shot up 75.11, or 3 percent, to 2,548.94.

The German court ruling also pushed the prices of Treasury securities lower as investors were more willing to hold risky assets like stocks. Treasury prices have been rising over the past week, sending their yields lower, as demand for lower-risk investments increased.

*The NYSE DOW closed  +275.56      points HIGHER   or    +2.47%    on Wednesday September 7*
Sym .......Last .......Change..........
Dow 11,414.86 +275.56 +2.47% 
Nasdaq 2,548.94 +75.11 +3.04% 
S&P 500 1,198.62 +33.38 +2.86% 
30-yr Bond 3.3540% +0.0950 

NYSE Volume 4,443,355,000 
Nasdaq Volume 1,835,401,625 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,318.59 +161.75 +3.14% 
DAX 5,405.53 +211.56 +4.07% 
CAC 40 3,073.18 +107.54 +3.63% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,262.90 +102.20 +2.46% 
Shanghai Comp 2,516.09 +45.57 +1.84% 
Taiwan We... 7,529.01 +161.82 +2.20% 
Nikkei 225 8,763.41 +172.84 +2.01% 
Hang Seng 20,048.00 +337.50 +1.71% 
Straits Times 2,832.13 +57.80 +2.08% 

http://finance.yahoo.com/news/Stock...7.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks surge after Germany upholds bailout plan

Stocks rally in US, Europe on relief over German court ruling upholding European bailout fund*

David K. Randall, AP Business Writer, On Wednesday September 7, 2011, 5:55 pm 

NEW YORK (AP) -- A broad rally broke a three-day losing streak in the stock market Wednesday as fears about Europe's debt crisis ebbed.

Stocks rose sharply after a German court backed the country's role in bailing out other European nations. The Dow Jones industrial average jumped 200 points in the first hour of trading and continued to climb throughout the day, ending up 275 points. The afternoon gains came after Italy's Senate approved a deficit-cutting package and the Federal Reserve reported that U.S. business conditions are improving.

Traders were also speculating that President Barack Obama would announce a $300 billion jobs package made up of tax cuts, state aid and infrastructure spending in an address to Congress on Thursday night.

The Dow and other U.S. indexes fell over the previous three days on worries over weakness in the U.S. job market and concerns that Europe's debt woes could lead to a global economic recession.

"The market has been pricing in an out-and-out recession, so any hints that policy issues might be solved is a plus," said Brian Gendreau, market strategist at Cetera Financial Group

The Dow surged 275.56 points, or 2.5 percent, to close at 11,414.86. All 30 stocks in the Dow average rose.

The Standard and Poor's 500 index jumped 33.38, or 2.9 percent, to 1,198.62. All 10 company groups that make up the S&P index rose. The Nasdaq composite shot up 75.11, or 3 percent, to 2,548.94.

The German court ruling also pushed the prices of Treasury securities lower as investors were more willing to hold risky assets like stocks. Treasury prices have been rising over the past week, sending their yields lower, as demand for lower-risk investments increased.

The yield on the 10-year Treasury note rose to 2.05 percent. Its price fell 50 cents per $100 invested.

The yield traded at 1.97 percent late Tuesday. On Monday it fell to 1.91 percent, the lowest since the Federal Reserve Bank of St. Louis began keeping daily records in 1962. Gold, another traditional safe haven, fell $56, or 3 percent, to $1,817 an ounce. It closed at $1,891 on Aug. 22.

Historically low Treasury rates are prompting some institutional investors to see stocks as a better value. The yield on the benchmark 10-year Treasury note began plunging from just over 3 percent on July 27 to 2.2 percent by the end of August. Investors were piling into lower-risk assets as the stock market swung wildly. The yield has hovered around 2 percent this week. An investor who buys the S&P 500 index, meanwhile, earns a 2.38 percent yield in the form of dividends.

"Market sentiment has actually been worse than economic data lately, and now you are seeing institutional investors saying, `I can get a better yield from the S&P 500 than I can from a 10-year Treasury'," said Howard Ward, portfolio manager of the GAMCO Growth Fund.

Yahoo and Bank of America rose sharply after announcing the departures of key executives after the market closed Tuesday. Yahoo gained 5 percent, to $13.61, after announcing that CEO Carol Bartz had been fired. Some analysts said the move made the company a takeover target. Bartz spent nearly three years steering the company.

Bank of America jumped 7 percent, to $7.48, after the bank announced a management reorganization that will result in two top officers leaving. The changes were seen as one of chief executive Brian Moynihan's most dramatic moves to reshape the embattled bank. Bank of America shares have fallen 48 percent this year through Tuesday, compared with a 7 percent drop in the S&P 500 index.

Financial companies were the top performing group in the S&P 500 index. JP Morgan Chase & Co., Goldman Sachs and Wells Fargo each rose more than 3 percent.

Urban Outfitters fell 2 percent, to $25.26, after the retailer said its sales were slipping in the current quarter. Computer graphics company Nvidia Corp. jumped 8 percent, to $14.25, after the company said it expects its revenues to be higher than Wall Street analysts forecast.

A Federal Reserve survey found that that the economy grew modestly in its 12 bank regions in July and August as consumers spent more.

Nine stocks rose for every one that fell on the New York Stock Exchange. Volume was below average at 3.9 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks closed sharply lower Thursday after Federal Reserve Chairman Ben Bernanke offered no specific plans to prop up the economy.

In a speech closely watched by investors, Bernanke said the Fed will consider a range of steps at its Sept. 20-21 meeting. The Dow Jones industrial average fell 100 points shortly after Bernanke's remarks began at 1:30 p.m. Eastern. It ended down 119.

"The implications are that the Fed is going to act, but the market is disappointed because he was a little short on details," said Scott Brown, chief economist at Raymond James.

Concerns about the U.S. economy have pushed stocks lower each month since April. Many traders now say the stock market is pricing in the assumption that the economy is in a recession, meaning limited job growth and a weaker corporate profits.

The economic worries have pushed the prices of Treasurys and highly-rated corporate bonds higher and their yields lower. The yield on the 10-year Treasury note was 1.99 percent Thursday, down from 3 percent July 25. Mortgage rates, which are affected by Treasury yields, fell to their lowest level in six decades, Freddie Mac reported Thursday.

President Obama will lay out his jobs plan at a joint session of Congress tonight. He is expected to announce a $300 billion package that includes tax cuts, additional state aid and spending on infrastructure.

The Dow Jones industrial average lost 119.05 points, or 1 percent, to 11,295.81. The Standard & Poor's 500 index fell 12.72, or 1.1 percent, to 1,185.90. The Nasdaq composite shed 19.80, or 0.8 percent, to 2,529.14. Each index had posted gains earlier in the day.

*The NYSE DOW closed   -119.05     points     LOWER or   -1.04%   on Thursday September 8*
Sym .......Last .......Change..........
Dow 11,295.81 -119.05 -1.04% 
Nasdaq 2,529.14 -19.80 -0.78% 
S&P 500 1,185.90 -12.72 -1.06% 
30-yr Bond 3.3100% -0.0440 

NYSE Volume 4,465,175,000 
Nasdaq Volume 2,009,104,125 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,340.38 +21.79 +0.41% 
DAX 5,408.46 +2.93 +0.05% 
CAC 40 3,085.83 +12.65 +0.41% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,269.80 +6.90 +0.16% 
Shanghai Comp 2,498.94 -17.15 -0.68% 
Taiwan We... 7,548.37 +19.36 +0.26% 
Nikkei 225 8,793.12 +29.71 +0.34% 
Hang Seng 19,912.82 -135.18 -0.67% 
Straits Times 2,856.90 +24.77 +0.87% 

http://finance.yahoo.com/news/Stock...1.html?x=0&sec=topStories&pos=4&asset=&ccode=

*Stocks slide after Bernanke offers no new stimulus

Stocks lose ground after Fed Chairman Bernanke offers no new stimulus policies in speech *

David K. Randall, AP Business Writer, On Thursday September 8, 2011, 5:48 pm 

NEW YORK (AP) -- Stocks closed sharply lower Thursday after Federal Reserve Chairman Ben Bernanke offered no specific plans to prop up the economy.

In a speech closely watched by investors, Bernanke said the Fed will consider a range of steps at its Sept. 20-21 meeting. The Dow Jones industrial average fell 100 points shortly after Bernanke's remarks began at 1:30 p.m. Eastern. It ended down 119.

"The implications are that the Fed is going to act, but the market is disappointed because he was a little short on details," said Scott Brown, chief economist at Raymond James.

Concerns about the U.S. economy have pushed stocks lower each month since April. Many traders now say the stock market is pricing in the assumption that the economy is in a recession, meaning limited job growth and a weaker corporate profits.

The economic worries have pushed the prices of Treasurys and highly-rated corporate bonds higher and their yields lower. The yield on the 10-year Treasury note was 1.99 percent Thursday, down from 3 percent July 25. Mortgage rates, which are affected by Treasury yields, fell to their lowest level in six decades, Freddie Mac reported Thursday.

President Obama will lay out his jobs plan at a joint session of Congress tonight. He is expected to announce a $300 billion package that includes tax cuts, additional state aid and spending on infrastructure.

The Dow Jones industrial average lost 119.05 points, or 1 percent, to 11,295.81. The Standard & Poor's 500 index fell 12.72, or 1.1 percent, to 1,185.90. The Nasdaq composite shed 19.80, or 0.8 percent, to 2,529.14. Each index had posted gains earlier in the day.

Cisco Systems Inc. led the 30 Dow stocks with a 2.6 percent gain after it was upgraded by analysts. JPMorgan Chase & Co., Bank of America Corp and Boeing Co. each fell 3 percent, pulling the average lower.

Investors received mixed economic data before the market opened. First-time applications for unemployment benefits rose last week to 414,000. Economists had expected 405,000. The prior week's estimate of new claims was also revised higher.

The weekly report on unemployment applications is an important economic indicator for investors. Rising claims can add to concerns that the job market is stalled and the U.S. economy is headed for another recession. Applications need to fall below 375,000 to indicate sustainable job growth. Last week the government reported there was zero job growth in the U.S. economy in August.

Not all of the economic news Thursday was negative. American exports of cars, airplanes and other goods reached an all-time high in July, the Commerce Department reported. Economists said the jump in exports suggest future growth in the U.S. economy. A weaker dollar has helped American exports this year. The dollar has fallen 8 percent over the last 12 months against an index of six other currencies.

"The market is sitting around and trying to piece it all together, "said Rob Stein, the founder and global head of asset management at Astor Asset Management. "For all the volatility that we've had recently, the market is going nowhere."

OpenTable Inc., a restaurant booking and review website, dropped 8 percent to $57.50 after Google Inc. announced it was buying OpenTable rival Zagat, a publisher of restaurant reviews in print and online. Pall Corp. slumped 10 percent, to $44.03, after the maker of filtration equipment reported earnings that fell far short of what analysts were expecting. Pall dropped the most of any stock in the S&P 500 index.

Yahoo Inc. jumped 6 percent to $14.44 after Third Point, an activist investment fund, disclosed that it has bought a 5.2 percent stake in the troubled Web portal and called for sweeping changes to the board. Yahoo's board fired CEO Carol Bartz on Tuesday after 2 1/2 years on the job. She harshly criticized the board in an interview published Thursday.

Four stocks fell for every one that rose on the New York Stock Exchange. Volume was lower than average at 3.9 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

The problems that have weighed on investors all summer -- European debt and fear of a new recession in the United States -- hammered the stock market Friday. The Dow Jones industrial average fell more than 300 points.

The plunge erased the week's gains for stocks and sent the Dow below 11,000. It had not closed below that level since Aug. 22, after several weeks of extraordinary volatility.

The European Central Bank said a top official, Juergen Stark, was resigning almost three years before the end of his term in 2014, revealing deep disagreement over how to solve economic problems in Europe.

Traders fear that one of the continent's heavily indebted economies could default, an event that would ripple through the global banking system and make it difficult for other European countries to borrow money.

Such an outcome could tip the world economy back into recession. In the U.S., economic growth is already slowing, and unemployment is stuck above 9 percent.

Friday was also the first chance for the markets to react after President Barack Obama presented Congress and the nation a $447 billion jobs program. It is not clear to traders that the plan will get through a bitterly divided Congress.

The Dow finished down 304 points, or 2.7 percent, its steepest drop in more than three weeks. It closed at 10,992. The average approached a 400-point drop at some points in the afternoon.

"Markets always vacillate between fear and greed, and today we're coming down pretty much all on the fear side," said Kim Caughey Forrest, equity research analyst at Fort Pitt Capital Group.

The Standard & Poor's 500 closed down 32, or 2.7 percent, at 1,154. The Nasdaq composite is down 61, or 2.4 percent, at 2,468. All three indexes finished down for the week.

*The NYSE DOW closed   -303.68     points  LOWER or -2.69%      on Friday September 9*
Sym .......Last .......Change..........
Dow 10,992.13 -303.68 -2.69% 
Nasdaq 2,467.99 -61.15 -2.42% 
S&P 500 1,154.23 -31.67 -2.67% 
30-yr Bond 3.2460% -0.0640 

NYSE Volume 5,626,614,000 
Nasdaq Volume 2,076,357,750 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,214.65 -125.73 -2.35% 
DAX 5,189.93 -218.53 -4.04% 
CAC 40 2,974.59 -111.24 -3.60% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,277.40 +7.60 +0.18% 
Shanghai Comp 2,497.75 -1.19 -0.05% 
Taiwan We... 7,610.57 +62.20 +0.82% 
Nikkei 225 8,737.66 -55.46 -0.63% 
Hang Seng 19,866.63 -46.19 -0.23% 
Straits Times 2,825.10 -31.80 -1.11% 

http://finance.yahoo.com/news/Fear-about-Europe-US-drags-apf-2532453913.html?x=0

*Fear about Europe, US drags Dow down 300

Dow falls more than 300 as fear about Europe, possible US recession hammers market again *

Daniel Wagner and Francesca Levy, AP Business Writers, On Friday September 9, 2011, 5:45 pm EDT 

NEW YORK (AP) -- The problems that have weighed on investors all summer -- European debt and fear of a new recession in the United States -- hammered the stock market Friday. The Dow Jones industrial average fell more than 300 points.

The plunge erased the week's gains for stocks and sent the Dow below 11,000. It had not closed below that level since Aug. 22, after several weeks of extraordinary volatility.

The European Central Bank said a top official, Juergen Stark, was resigning almost three years before the end of his term in 2014, revealing deep disagreement over how to solve economic problems in Europe.

Traders fear that one of the continent's heavily indebted economies could default, an event that would ripple through the global banking system and make it difficult for other European countries to borrow money.

Such an outcome could tip the world economy back into recession. In the U.S., economic growth is already slowing, and unemployment is stuck above 9 percent.

Friday was also the first chance for the markets to react after President Barack Obama presented Congress and the nation a $447 billion jobs program. It is not clear to traders that the plan will get through a bitterly divided Congress.

The Dow finished down 304 points, or 2.7 percent, its steepest drop in more than three weeks. It closed at 10,992. The average approached a 400-point drop at some points in the afternoon.

"Markets always vacillate between fear and greed, and today we're coming down pretty much all on the fear side," said Kim Caughey Forrest, equity research analyst at Fort Pitt Capital Group.

The Standard & Poor's 500 closed down 32, or 2.7 percent, at 1,154. The Nasdaq composite is down 61, or 2.4 percent, at 2,468. All three indexes finished down for the week.

Investors drove the yield on the 10-year Treasury note to 1.92 percent, its lowest since the Federal Reserve Bank of St. Louis began keeping daily records in 1962. The yield was 1.99 percent a day earlier.

Wall Street traders have poured money into U.S. government debt all summer, driving the price up and the yield, which moves in the opposite direction, down.

Even after Congress narrowly met a deadline for raising the limit on how much the government can borrow, barely avoiding a default for the country, investors think U.S. government can be counted on to pay its bills.

Word of the resignation of Stark, the top economist at the ECB, came shortly after U.S. markets opened. He was an advocate for higher interest rates, and published reports said he left because he opposed the bank's extensive purchases of debt issued by European countries.

Stark's departure rattled traders because the U.S. economy is "teetering on the verge of recession," and the outcome in Europe might determine which way it goes, said Andrew Goldberg, market strategist with J.P. Morgan Funds.

He said traders are latching onto any piece of news that might signal a positive or negative outcome in Europe.

Banks in Europe hold bonds issued by nations deep in debt, including Greece, Ireland and Portugal, but investors don't know exactly how much each bank holds from each country.

The value of the bonds would quickly diminish if one of those nations defaults. Banks might stop lending to each other because of fears that some would fail.

Stark's departure was seen as "a bit of news that contributes to a worse outcome, so if you're thinking of being a seller, today that's what you are," Goldberg said.

The central bank's troubles raise the stakes for a meeting this weekend in of financial leaders from the world's most developed economies.

High volatility returned to the market Friday. One measure known as the VIX, which measures investors' fears, increased 18 percent.

Friday's plunge extends a tough quarter for the stock market. The S&P 500 is down 13 percent since the third quarter started in July. However, it has recovered almost 4 percent since its lowest close this year Aug. 8.

Analysts say stocks are likely to fall further as the crisis in Europe goes on. A shrinking European economy would hurt the U.S. because roughly a quarter of American companies' revenue comes from Europe, said Sam Stovall, chief investment strategist for S&P in New York.

"Maybe the market has already priced in a very, very soft spot, but it has not priced in quicksand -- it has not priced in a recession," he said.

Forrest, of Fort Pitt Capital, said the sell-off had brought some stock prices "within buying range." She said traders have few other places to invest, with Treasury yields near record lows and currency markets gyrating because of fears about the euro.

Markets in Europe also fell sharply. France's CAC 40 and Germany's Dax fell about 4 percent. London's FTSE lost more than 2 percent.

In the U.S., McDonald's Corp. stock fell 4 percent because of disappointing revenue. McDonald's said that revenue at restaurants open at least 13 months rose 3.5 percent in August. Analysts expected 4.9 percent.

Bank of America Corp. fell 3 percent after The Wall Street Journal reported that it might cut up to 14 percent of its work force as part of a massive restructuring. Bank of America already has cut at least 6,000 jobs this year. CEO Brian Moynihan announced a management shake-up this week.

VeriSign Inc., which manages Internet domain names, fell 15 percent after its chief financial officer resigned. Specialty glass maker Corning Inc. fell 6 percent a day after it said it expected to sell less glass for LCD TVs than originally forecast.


----------



## bigdog

Source: http://finance.yahoo.com

A late afternoon rally pushed the stock market higher for only the second day this month. Major indexes spent most of Monday lower as investors worried that Greece could be edging closer to default.

The yield on the 10-year Treasury note reached another record low as investors piled into U.S. government debt on fears that Europe's debt crisis could spread. The euro fell to a seven-month low against the dollar.

The Dow Jones industrial average rose 68.99 points, or 0.6 percent, to close at 11,061.12. All of the gains came in the last 10 minutes of trading. The Dow had been down as many as 167 points shortly after 2 p.m. Traders said a combination of technical factors and reports that China was buying Italian government bonds triggered the late spurt of buying.

"Over the last several days, stocks have been pushed down so hard it was as if somebody was trying to push a balloon underwater," said Sam Stovall, chief investment strategist at Standard & Poor's Equity Research. "It's bound to pop up even if only for a short period of time."

The S&P 500 index rose 8.04, or 0.7 percent, to 1,162.27. It had dropped as many as 18 points. Technology stocks fared better than the overall market following news of a semiconductor deal. The tech-heavy Nasdaq composite index rose 27.10 points, or 1.1 percent, to 2,495.09.

*The NYSE DOW closed +68.99 points HIGHER or +0.63%  on Monday September 12*
Sym .......Last .......Change.......... 
Dow	11,061.12	+68.99	+0.63%
Nasdaq	2,495.09	+27.10	+1.10%
S&P 500	1,162.27	+8.04	+0.70%
30-yr Bond	3.2400%	-0.0060

NYSE Volume	5,168,553,500
Nasdaq Volume	2,019,246,125

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,129.62 -85.03 -1.63% 
DAX 5,072.33 -117.60 -2.27% 
CAC 40 2,854.81 -119.78 -4.03% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 	4,125.10 	-152.30 	-3.56%
Shanghai C... 	2,497.75 	-1.19 	-0.05%
Taiwan Wei... 	7,610.57 	+62.20 	+0.82%
Nikkei 225 	8,535.67 	-201.99 	-2.31%
Hang Seng 	19,030.54 	-836.09 	-4.21%
Straits Times 	2,743.58 	-81.52 	-2.89%

http://finance.yahoo.com/news/Late-...7.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Late rally pushes stocks higher; 2nd gain in Sept.

Late rally reverses a stock market slide; 10-year Treasury yield hits another record low* 

Matthew Craft, AP Business Writer, On Monday September 12, 2011, 5:06 pm EDT 

NEW YORK (AP) -- A late afternoon rally pushed the stock market higher for only the second day this month. Major indexes spent most of Monday lower as investors worried that Greece could be edging closer to default.

The yield on the 10-year Treasury note reached another record low as investors piled into U.S. government debt on fears that Europe's debt crisis could spread. The euro fell to a seven-month low against the dollar.

The Dow Jones industrial average rose 68.99 points, or 0.6 percent, to close at 11,061.12. All of the gains came in the last 10 minutes of trading. The Dow had been down as many as 167 points shortly after 2 p.m. Traders said a combination of technical factors and reports that China was buying Italian government bonds triggered the late spurt of buying.

"Over the last several days, stocks have been pushed down so hard it was as if somebody was trying to push a balloon underwater," said Sam Stovall, chief investment strategist at Standard & Poor's Equity Research. "It's bound to pop up even if only for a short period of time."

The S&P 500 index rose 8.04, or 0.7 percent, to 1,162.27. It had dropped as many as 18 points. Technology stocks fared better than the overall market following news of a semiconductor deal. The tech-heavy Nasdaq composite index rose 27.10 points, or 1.1 percent, to 2,495.09.

J.J. Kirnahan, chief options strategist at T.D. Ameritrade, said reports that China planned to buy a significant amount of Italian bonds contributed to the sudden reversal. "The last 16 minutes was insane," he said.

Kirnahan said investors should not take the day's gains as a sign of a longer-lasting trend. "If tomorrow we get any indications that China really isn't going to get involved, then we should expect a quick sell-off."

Worries over Europe's debt crisis drove traders into Treasurys, pushing the yield on the 10-year Treasury note to 1.87 percent, the lowest since the Federal Reserve Bank of St. Louis began keeping daily records in 1962. During the financial crisis in late 2008, the 10-year yield hit a low of 2.05 percent.

Investors fear that Greece could default on its debt, leading to more disruptions in global financial markets. They're also concerned that rating agencies may cut the credit ratings of French banks because of their holdings of Greek bonds. That would mark the spread of Europe's debt troubles from peripheral countries like Greece and Ireland to the heart of Europe's financial system.

"All these things together are getting me concerned," said Douglas Cote, chief market strategist for ING Investment Management. "With Europe's banks under so much duress and Greece near an imminent default, you can't tell me the U.S. is insulated from their problems. I don't buy it."

The resignation of a key European Central Bank official combined with worries over a new recession in the United States led to a stock market sell-off Friday. The Dow Jones industrial average and Standard & Poor's 500 index have fallen for six of the past seven weeks. Before Monday, the Dow, S&P 500 and Nasdaq had posted gains only one day this month, last Wednesday.

Tenet Healthcare Corp. sank 10 percent to $4.52, the biggest drop among companies in the S&P 500. The hospital operator said it expects earnings to take a hit from a rise in patients using Medicaid, which pays hospitals less for treatment than private insurance.

McGraw-Hill Cos. rose 4 percent to $40.26. The company said it will split into two public companies, one unit focused on education services and the other centered on markets, including the rating agency Standard & Poor's and J.D. Power and Associates.

NetLogic Microsystems Inc. jumped 51 percent to $48.12 after Broadcom Corp. said it has agreed to acquire the maker of semiconductors for $3.7 billion. Bank of America Corp. rose 1 percent to $7.05 after the bank said it would slash 30,000 jobs as part of a cost-cutting drive.

Wynn Resorts rose 2 percent to $151.72 after a unit of the casino operator said it had a signed a deal to build a resort in Macau. Casinos have been expanding their operations in the former Portuguese colony, considered the world's most lucrative gambling market.


----------



## bigdog

Source: http://finance.yahoo.com

General Electric Co. and other industrial companies pushed stocks higher after another choppy session Tuesday, the second day of gains in a row.

It was the first back-to-back gain since the last week of August and only the third time the market has closed higher this month. On the five days the market closed lower in September, the Dow Jones industrial average lost between 100 and 303 points.

The Dow rose 44.73 points, or 0.4 percent, to close at 11,105.85. The Dow moved between small gains and losses for much of the day, then turned higher in the last half-hour.

The Standard & Poor's 500 index rose 10.60, or 0.9 percent, to 1,172.87.

Trading was quiet compared with the many wild swings the market has had since early August. The Dow traded in a range of just 153 points, the narrowest since July 26. The average daily range during August was twice as big, 337 points. The last time the Dow traded in a larger range was November 2008, at the peak of the financial crisis.

Investors have been struggling with uncertainty over the European debt crisis and questions over which way the U.S. economy is going, said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. That fear of the unknown has made markets especially volatile. Traders seem to be hanging on every piece of news or rumor out of Europe.

*The NYSE DOW closed +44.73 points HIGHER or  +0.40% on Tuesday September 13*
Sym .......Last .......Change.......... 
Dow 11,105.85 +44.73 +0.40% 
Nasdaq 2,532.15 +37.06 +1.49% 
S&P 500 1,172.87 +10.60 +0.91% 
30-yr Bond 3.3210% +0.0810 

NYSE Volume 4,686,455,500 
Nasdaq Volume 1,957,106,000 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,174.25 +44.63 +0.87% 
DAX 5,166.36 +94.03 +1.85% 
CAC 40 2,894.93 +40.12 +1.41% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,158.40 +33.30 +0.81% 
Shanghai Comp 2,471.30 -26.45 -1.06% 
Taiwan We... 7,391.37 -219.20 -2.88% 
Nikkei 225 8,616.55 +80.88 +0.95% 
Hang Seng 19,030.54 -836.09 -4.21% 
Straits Times 2,729.37 -14.21 -0.52% 

http://finance.yahoo.com/news/Stock...5.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks edge higher for a second day in a row

Industrials lead indexes to second day of gains; GE rises 2 percent, leads 30 stocks in Dow *

Matthew Craft, AP Business Writer, On Tuesday September 13, 2011, 5:08 pm EDT 

NEW YORK (AP) -- General Electric Co. and other industrial companies pushed stocks higher after another choppy session Tuesday, the second day of gains in a row.

It was the first back-to-back gain since the last week of August and only the third time the market has closed higher this month. On the five days the market closed lower in September, the Dow Jones industrial average lost between 100 and 303 points.

The Dow rose 44.73 points, or 0.4 percent, to close at 11,105.85. The Dow moved between small gains and losses for much of the day, then turned higher in the last half-hour.

The Standard & Poor's 500 index rose 10.60, or 0.9 percent, to 1,172.87.

Trading was quiet compared with the many wild swings the market has had since early August. The Dow traded in a range of just 153 points, the narrowest since July 26. The average daily range during August was twice as big, 337 points. The last time the Dow traded in a larger range was November 2008, at the peak of the financial crisis.

Investors have been struggling with uncertainty over the European debt crisis and questions over which way the U.S. economy is going, said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. That fear of the unknown has made markets especially volatile. Traders seem to be hanging on every piece of news or rumor out of Europe.

"It's a difficult environment for a long-term investor," Detrick said. "Any news can take you significantly higher or lower. There's just so much volatility."

European markets rose broadly Tuesday. Major French banks soared after BNP Paribas denied that it had trouble borrowing dollars from other banks and investors in short-term credit markets.

Italy's finance minister also confirmed that officials had met with China's sovereign wealth fund about buying Italian bonds. A report that China may buy Italian government bonds helped U.S. stock indexes eke out slight gains Monday. All of the gains came in a sudden burst of buying in the last 15 minutes of trading.

Detrick says the uncertainty has started to drive retail investors out of stocks. Americans pulled $36 billion out of U.S. stock funds in August, according to preliminary data from the Investment Company Institute. That's second only to the $47 billion withdrawn from U.S. stock funds at the height of the financial crisis in October 2008.

The Nasdaq composite gained 37.06, or 1.5 percent, to 2,532.15. Apple rose 1 percent Morgan Stanley said the company was more likely than ever to reward investors with a dividend or through buying back its stock.

GE rose the most of the 30 stocks in the Dow Jones industrial average, gaining 2.6 percent to $15.41.

Cummins Inc., an engine maker, topped all 500 companies in the S&P 500 index, leaping 6 percent to $92.20. The company's executives told analysts that rising gas prices and tighter emissions standards have increased demand for its fuel-efficient engines.

Best Buy Co. plunged 7.6 percent to $23.06, the biggest loss of any S&P 500 stock, after the electronic retailer reported a fall in quarterly profit. Sales in stores open a year or longer dropped 2.8 percent.

A weak reading of business sentiment kept the market's gains in check. An index of small business conditions from the National Federation of Independent Business dropped to a 13-month low in August. The NFIB said companies surveyed had weaker expectations for sales and a bleaker view of the overall economy.

The Dow and S&P 500 have lost 4 percent this month amid worries that Europe's debt crisis could knock the U.S. into another recession. The U.S. economy is already slowing, and unemployment remains high at 9.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

A promise by European leaders to help Greece avoid default sent stocks sharply higher Wednesday for the third straight day.

The leaders of Greece, France and Germany agreed in a teleconference that Greece was an "integral" part of the 17-country bloc that uses the euro. Greece also said it would stick to agreements to trim its debts, a condition for getting more financial help. The statements were intended to calm fears that Greece was headed for default or might be forced to drop the euro.

The Dow Jones industrial average rose 140.88 points, or 1.3 percent, to close at 11,246.73. The Dow sank as many as 112 points within the first hour of trading, then rose steadily through the rest of the day.

"The news out of Europe is beginning to sound a bit more friendly," said Peter Cardillo, chief market economist at Rockwell Global Capital, a brokerage in New York. Investors remain far from convinced that Europe's debt crisis will be solved. "Once they are, some of this fear will dissipate."

The Standard & Poor's 500 index rose 15.81 points, or 1.3 percent, to 1,188.68. The Nasdaq composite rose 40.40, or 1.6 percent, to 2,572.55.

European stock indexes rose sharply in the hours leading up to the meeting as investors hoped the talks would be productive. Germany's DAX gained 3.4 percent and France's CAC-40 1.9 percent.

The threat of a Greek default and the damage it could wreak on financial markets has had investors on edge in the past two weeks, lifting Treasurys and weighing on stocks. The yield on the 10-year Treasury note hit a record low on Monday of 1.87 percent and the S&P 500 has only risen three days this month.

*The NYSE DOW closed  +140.88 points HIGHER or +1.27% on Wednesday September 14*
Sym .......Last .......Change.......... 
Dow 11,246.73 +140.88 +1.27% 
Nasdaq 2,572.55 +40.40 +1.60% 
S&P 500 1,188.68 +15.81 +1.35% 
30-yr Bond 3.3050% -0.0160 

NYSE Volume 4,990,884,000 
Nasdaq Volume 2,354,427,000 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,227.02 +52.77 +1.02% 
DAX 5,340.19 +173.83 +3.36% 
CAC 40 2,949.14 +54.21 +1.87% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,090.40 -68.00 -1.64%
Shanghai Comp 2,484.83 +13.52 +0.55% 
Taiwan We... 7,228.47 -162.90 -2.20% 
Nikkei 225 8,518.57 -97.98 -1.14%
Hang Seng 19,045.44 +14.90 +0.08%
Straits Times 2,739.35 +9.98 +0.37%

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks jump on hopes for progress on Greece's debt

US stock indexes rise sharply on optimism that Greece will be able to avoid a default 
*

Matthew Craft, AP Business Writer, On Wednesday September 14, 2011, 5:47 pm EDT 

NEW YORK (AP) -- A promise by European leaders to help Greece avoid default sent stocks sharply higher Wednesday for the third straight day.

The leaders of Greece, France and Germany agreed in a teleconference that Greece was an "integral" part of the 17-country bloc that uses the euro. Greece also said it would stick to agreements to trim its debts, a condition for getting more financial help. The statements were intended to calm fears that Greece was headed for default or might be forced to drop the euro.

The Dow Jones industrial average rose 140.88 points, or 1.3 percent, to close at 11,246.73. The Dow sank as many as 112 points within the first hour of trading, then rose steadily through the rest of the day.

"The news out of Europe is beginning to sound a bit more friendly," said Peter Cardillo, chief market economist at Rockwell Global Capital, a brokerage in New York. Investors remain far from convinced that Europe's debt crisis will be solved. "Once they are, some of this fear will dissipate."

The Standard & Poor's 500 index rose 15.81 points, or 1.3 percent, to 1,188.68. The Nasdaq composite rose 40.40, or 1.6 percent, to 2,572.55.

European stock indexes rose sharply in the hours leading up to the meeting as investors hoped the talks would be productive. Germany's DAX gained 3.4 percent and France's CAC-40 1.9 percent.

The threat of a Greek default and the damage it could wreak on financial markets has had investors on edge in the past two weeks, lifting Treasurys and weighing on stocks. The yield on the 10-year Treasury note hit a record low on Monday of 1.87 percent and the S&P 500 has only risen three days this month.

Uri Landesman, president of the New York hedge fund Platinum Partners, said investors have overreacted. "They're just not going to let them go under," he said. "That's just not happening. I think people have learned the lesson from letting Lehman Brothers fail."

Among U.S. stocks in focus, ConAgra Foods Inc. said it would withdraw its $5.17 billion bid for Ralcorp Holdings Inc. if the company doesn't consider its bid by Monday evening. Ralcorp has already rejected several bids from ConAgra since March. Ralcorp's stock dropped 7 percent to $79.11. ConAgra fell 2 percent to $23.45.

Computer maker Dell Inc. rose 3 percent to $14.86. Dell said Tuesday it will add $5 billion to its existing $2.1 billion stock-buyback plan. Dell bought $1.1 billion of its stock in the second quarter.

Staples Inc. rose 3 percent to $14.60 after the company said it will buy up to $1.5 billion of its own stock. The office-supply company's stock has dropped 36 percent this year.

The gains came despite a report that retail sales were flat in August. People spent less on autos, clothing and furniture as fears mounted that the country was slipping into a recession and as the stock market took a steep fall. Economists had expected a slight gain.

That report helped push oil prices down $1.30 to $88.91 a barrel. Weak retail spending suggests Americans will consume less fuel.

All three stock indexes are still down for the month. The Dow has lost 3.2 percent and the S&P 500 index 2.5 percent. The Nasdaq has fared better, losing just 0.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

A joint effort by five major central banks to support Europe's financial system set off a rally in U.S. stocks Thursday. Gold plunged and Treasury yields rose as traders sold the safest investments. Markets in Europe soared.

The European Central Bank, the U.S. Federal Reserve and three other central banks said Thursday they would provide European banks with unlimited dollar loans. The aim is to fend off worries that the banks could be weakened by their holdings of government bonds from Greece and other struggling European countries.

"It's a pretty powerful action," said Brian Gendreau, senior investment strategist at Cetera Financial Group. "And it's another piece of news that leads you to think the crisis in Europe could be on the road to resolution."

The Dow Jones industrial average rose 186.45 points, or 1.7 percent, to close at 11,433.18.

The Standard & Poor's 500 index rose 20.43 points, 1.7 percent, to 1,209.11. The index has jumped 4.8 percent this week but is still 10 points short of where it started the month.

Worries that European banks would have difficulty borrowing have hung over markets in recent weeks. It's a key element in the European debt crisis, rooted in the fear that cash-strapped governments in Greece and Italy won't pay back their debts. European banks hold large amounts of debt issued by Greece and Italy, which they use as collateral to borrow dollars. The danger is that banks could lose their ability to raise money when other lenders won't take the collateral.

Europe's main stock markets jumped on the news. Germany's DAX and France's CAC-40 gained 3 percent. The euro rose against the dollar as confidence in Europe's shared currency increased.

Gold plunged $45, or 2.5 percent, to settle at $1,781 an ounce. Treasury prices fell, pushing their yields up. The yield on the 10-year Treasury note, which is used to set interest rates on a wide variety of loans, rose to 2.08 percent.

*The NYSE DOW NYSE DOW closed  +186.45       points  HIGHER   or  +1.66%    on Thursday September  15*
Sym .......Last .......Change..........
Dow 11,433.18 +186.45 +1.66% 
Nasdaq 2,607.07 +34.52 +1.34% 
S&P 500 1,209.11 +20.43 +1.72% 
30-yr Bond 3.3510% +0.0460 

NYSE Volume 4,479,724,000 
Nasdaq Volume 2,002,066,750 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,337.54 +110.52 +2.11% 
DAX 5,508.24 +168.05 +3.15% 
CAC 40 3,045.62 +96.48 +3.27% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,153.20 +62.80 +1.54% 
SSE Composite  2479.06  -5.77  -0.23% 
Taiwan We... 7,385.68 +157.21 +2.17% 
Nikkei 225 8,668.86 +150.29 +1.76% 
Hang Seng 19,181.50 +136.06 +0.71% 
Straits Times 2,765.95 +26.60 +0.97% 

http://finance.yahoo.com/news/Stock...7.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks rally on support plan for European banks

Stocks rally after central banks back up European lenders; 4th day of gains; Dow jumps 186 *

Matthew Craft, AP Business Writer, On Thursday September 15, 2011, 5:41 pm 

NEW YORK (AP) -- A joint effort by five major central banks to support Europe's financial system set off a rally in U.S. stocks Thursday. Gold plunged and Treasury yields rose as traders sold the safest investments. Markets in Europe soared.

The European Central Bank, the U.S. Federal Reserve and three other central banks said Thursday they would provide European banks with unlimited dollar loans. The aim is to fend off worries that the banks could be weakened by their holdings of government bonds from Greece and other struggling European countries.

"It's a pretty powerful action," said Brian Gendreau, senior investment strategist at Cetera Financial Group. "And it's another piece of news that leads you to think the crisis in Europe could be on the road to resolution."

The Dow Jones industrial average rose 186.45 points, or 1.7 percent, to close at 11,433.18.

The Standard & Poor's 500 index rose 20.43 points, 1.7 percent, to 1,209.11. The index has jumped 4.8 percent this week but is still 10 points short of where it started the month.

Worries that European banks would have difficulty borrowing have hung over markets in recent weeks. It's a key element in the European debt crisis, rooted in the fear that cash-strapped governments in Greece and Italy won't pay back their debts. European banks hold large amounts of debt issued by Greece and Italy, which they use as collateral to borrow dollars. The danger is that banks could lose their ability to raise money when other lenders won't take the collateral.

Europe's main stock markets jumped on the news. Germany's DAX and France's CAC-40 gained 3 percent. The euro rose against the dollar as confidence in Europe's shared currency increased.

Gold plunged $45, or 2.5 percent, to settle at $1,781 an ounce. Treasury prices fell, pushing their yields up. The yield on the 10-year Treasury note, which is used to set interest rates on a wide variety of loans, rose to 2.08 percent.

The Nasdaq rose 34.52 points, 1.3 percent, to 2,607.07. The index has jumped 5.6 percent so far this week and is up 1.1 percent in September. The Dow is down 1.6 percent this month, the S&P 0.8 percent.

Daniel Alpert, managing partner at Westwood Capital in New York, said the stock market has been overreacting to Europe's debt crisis, swinging in response to each new development. "

Every time there's news out of Europe that's not bad, the market reacts positively, and that's occurring on almost a nightly basis," he said. "You'd think the U.S. economy might be part of what the market trades on, but the fact of the matter is, today and recently, it's all been about Europe."

A move by just the Fed or the European central bank alone wouldn't have been nearly as effective in restoring confidence in European lenders. Traders that had laid bets against European banks may now think twice about doing so again, Gendreau said. "It's the rare speculator that wants to go up against a slew of central banks and all their resources," he said.

Bank stocks led the market higher. Goldman Sachs Group Inc. rose 3 percent to $107.97. Bank of America Corp. rose 4 percent to $7.33, the largest gain of the 30 stocks in the Dow. Morgan Stanley jumped 7 percent to $16.59 after reporting that its chairman, John Mack, would step down at the end of the year.

The stock market's gains were tempered by a mixed batch of economic reports. First-time claims for unemployment benefits rose by 11,000 to 428,000 last week. Economists had forecast a decrease. The New York and Philadelphia branches of the Federal Reserve also reported weak manufacturing in their respective regions.

On the positive side, factory output rose 0.5 percent in August, after increasing 0.6 percent in July. Autos and related products increased 2.6 percent, evidence that supply chain disruptions stemming from the Japan earthquake continued to ease.

None of the reports was compelling enough to change anyone's view about the economy, Gendreau said. The market still appears evenly split between those who believe the US is headed for a long stretch of slow growth and those who think it's about to slide into a recession.

Among stocks making big moves, HCA Holdings soared 12 percent to $20.84 after the largest U.S. hospital chain said it would buy back more than $1 billion of its stock from Bank of America.

Research in Motion Ltd. plummeted 16 percent in after-hours trading. The maker of BlackBerry mobile devices reported earnings and sales that came in far below Wall Street's estimates. The company faces tough competition from Apple Inc.'s iPhone and phones that use Google Inc.'s Android software.1

The Swiss bank UBS plunged 10 percent to $11.41 on news that a trader could cost the bank as much as $2.2 billion. Switzerland's largest bank warned that it could post a loss for the quarter as a result of the unauthorized trade.

Netflix fell 18 percent to $169.25, the biggest drop among stocks in the S&P 500 index, after the company said it expects fewer people to subscribe to its DVD-by-mail service as well as its streaming movie service.


----------



## bigdog

Source: http://finance.yahoo.com

The stock market finished its second-best week in a year Friday as Europe's debt problems appeared to get closer to a resolution.

Stocks ended higher for a fifth straight day, the longest winning streak in 2 1/2 months. The Dow Jones industrial average rose 75 points after Treasury Secretary Timothy Geithner called on European finance ministers at a meeting in Poland to reach a solution on Greece's debt problems.

The Standard & Poor's 500 finished the week with a 5.4 percent gain. It was the biggest increase for the broad market index since the first week of July.

The Dow Jones industrial average rose 75.91 points, or 0.7 percent, to close at 11,509.09. The Dow jumped 186 points Thursday, its biggest gain of the week, after five central banks said they would act together to support European lenders with unlimited dollar loans.

The S&P index gained 6.90, or 0.6 percent, to 1,216.01. The Nasdaq added 15.24, or 0.6 percent to 2,622.31.

Nine of the 10 company types in the S&P index rose. Energy companies fell 0.1 percent.

*The NYSE DOW NYSE DOW closed    +75.91    points  HIGHER      or   +0.66%  on Friday September  16*
Sym .......Last .......Change..........
Dow 11,509.09 +75.91 +0.66% 
Nasdaq 2,622.31 +15.24 +0.58% 
S&P 500 1,216.01 +6.90 +0.57% 
30-yr Bond 3.3410% -0.0100 

NYSE Volume 5,248,895,000 
Nasdaq Volume 2,831,026,750 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,368.41 +30.87 +0.58% 
DAX 5,573.51 +65.27 +1.18% 
CAC 40 3,031.08 -14.54 -0.48% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,229.90 +76.70 +1.85% 
Shanghai Comp 2,482.34 +3.29 +0.13% 
Taiwan We... 7,577.40 +191.72 +2.60% 
Nikkei 225 8,864.16 +195.30 +2.25% 
Hang Seng 19,455.31 +273.81 +1.43% 
Straits Times 2,789.04 +23.09 +0.83% 

http://finance.yahoo.com/news/Stock...3.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks finish their second-best week in a year

Stocks gain for a 5th day, finish their second-best week in a year; Research in Motion tanks* 

Daniel Wagner and David K. Randall, AP Business Writers, On Friday September 16, 2011, 5:17 pm 

NEW YORK (AP) -- The stock market finished its second-best week in a year Friday as Europe's debt problems appeared to get closer to a resolution.

Stocks ended higher for a fifth straight day, the longest winning streak in 2 1/2 months. The Dow Jones industrial average rose 75 points after Treasury Secretary Timothy Geithner called on European finance ministers at a meeting in Poland to reach a solution on Greece's debt problems.

The Standard & Poor's 500 finished the week with a 5.4 percent gain. It was the biggest increase for the broad market index since the first week of July.

The Dow Jones industrial average rose 75.91 points, or 0.7 percent, to close at 11,509.09. The Dow jumped 186 points Thursday, its biggest gain of the week, after five central banks said they would act together to support European lenders with unlimited dollar loans.

The S&P index gained 6.90, or 0.6 percent, to 1,216.01. The Nasdaq added 15.24, or 0.6 percent to 2,622.31.

Nine of the 10 company types in the S&P index rose. Energy companies fell 0.1 percent.

Officials from countries that use the euro met in Poland to discuss solutions to the long-simmering debt problems affecting the region. The group said it would not decide until next month whether Greece has qualified for its next round of bailout money. Investors had been hoping the question would be decided sooner.

Antony Conroy, head trader for BNY ConvergEx Group, said traders' sentiment was mixed. Some were picking up stocks they thought were undervalued, while others were selling because of long-term concerns about Europe.

"Even though we've had a good couple of days, people still believe there's a good chance that the credit crisis in Europe is going to cause something like a 2008 event," he said.

Stocks rose every day this week, their first five-day winning streak since July. The rose 4.7 percent this week but is still down 0.9 percent for the month. The S&P is down 0.2 percent in September.

In corporate news, Blackberry maker Research in Motion Ltd. plunged 19 percent to $23.93 after reporting sharply lower revenue and income. The company faces stiff competition from Apple Inc.'s iPhone and phones that use Google Inc.'s Android software. RIM has lost 59 percent of its value this year. The company said in July it would lay off 10 percent of its work force.

Netflix Inc. lost 26 percent over the past two days, $155.19, after the movie-rental company lowered its forecast of U.S. subscribers. Online retailer Ebay jumped 5 percent to $33.69 after an analyst upgraded the company because of expected growth in its PayPal division. Diamond Foods, maker of Pop Secret popcorn, soared 12 percent to $87.30 after its profits beat expectations.

Rising and falling shares were about even on the New York Stock Exchange. Volume was above average at 4.6 billion shares.

2979


----------



## bigdog

Source: http://finance.yahoo.com

Pessimism about Greece's financial problems returned to the financial markets Monday. Stocks fell sharply as investors once again doubted that the country will be able to avoid a default on its debt.

Even after a late-day rally cut its losses by nearly half, the Dow Jones industrial average closed down 108.08, or 0.9 percent, at 11,401.01. The drop ended five days of gains for stocks and marked the return of the back-and-forth trading that has accompanied the uncertainty about Europe's debt crisis.

The Nasdaq composite fell 9.48, or 0.4 percent, to 2,612.83. The Standard & Poor's 500 index fell 11.92, or 1 percent, to 1,204.09. The S&P 500 gained 5.4 percent last week as it appeared Greece would get its bailout. But European finance ministers said Friday they would delay authorizing an $11 billion installment of emergency funds for Greece until October.

On Monday, the country's finance minister held an emergency teleconference with its international creditors. They are pressuring the government on austerity measures to reduce Greece's debt. Investors fear Greece won't be able to convince lenders that it can pay its debts -- and that it won't get the money it needs to avoid a default on debts that must be paid next month.

Late Monday, Greece's finance minister said that the 2 1/2-hour conference call was "productive and substantive." Hope that Greece might be closer to qualifying for rescue funds started a late comeback. The Dow gained about 100 points in the last hour of trading.

But investors also appeared pessimistic about a Federal Reserve policy decision expected Wednesday. Some economists believe that since the Fed decided to hold a two-day meeting instead of the originally planned one-day session, that it was preparing to take steps to stimulate the economy. However, other analysts doubt that the Fed will announce a new plan for the economy.

There is too much disagreement among Fed officials about monetary policy for a decision right now, said Ralph Fogel, head of investment strategy at Fogel Neale Partners in New York. "They'll have to let it play out at least a little while longer, and I think they'll wait until November," Fogel said.

*The NYSE DOW NYSE DOW closed    -108.08    points  LOWER  or   -0.94%   on Monday September  19*
Sym .......Last .......Change..........
Dow 11,401.01 -108.08 -0.94% 
Nasdaq 2,612.83 -9.48 -0.36% 
S&P 500 1,204.09 -11.92 -0.98% 
30-yr Bond 3.1920% -0.1490 

NYSE Volume 4,258,633,500 
Nasdaq Volume 1,908,633,875 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,259.56 -108.85 -2.03% 
DAX 5,415.91 -157.60 -2.83% 
CAC 40 2,940.00 -91.08 -3.00% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,164.10 -65.80 -1.56% 
Shanghai Comp 2,437.79  -44.55 -1.79% 
Taiwan We... 7,480.88 -96.52 -1.27% 
Nikkei 225 8,864.16 +195.30 +2.25% 
Hang Seng 18,917.95 -537.36 -2.76% 
Straits Times 2,757.23 -31.81 -1.14% 

http://finance.yahoo.com/news/Stock...9.html?x=0&sec=topStories&pos=6&asset=&ccode=

*Stocks slide as worries about Greek debt persist

Stocks slide as Greece fights for emergency funds; investors hope for timely solution * 

Francesca Levy, AP Business Writer, On Monday September 19, 2011, 5:37 pm EDT 

NEW YORK (AP) -- Pessimism about Greece's financial problems returned to the financial markets Monday. Stocks fell sharply as investors once again doubted that the country will be able to avoid a default on its debt.

Even after a late-day rally cut its losses by nearly half, the Dow Jones industrial average closed down 108.08, or 0.9 percent, at 11,401.01. The drop ended five days of gains for stocks and marked the return of the back-and-forth trading that has accompanied the uncertainty about Europe's debt crisis.

The Nasdaq composite fell 9.48, or 0.4 percent, to 2,612.83. The Standard & Poor's 500 index fell 11.92, or 1 percent, to 1,204.09. The S&P 500 gained 5.4 percent last week as it appeared Greece would get its bailout. But European finance ministers said Friday they would delay authorizing an $11 billion installment of emergency funds for Greece until October.

On Monday, the country's finance minister held an emergency teleconference with its international creditors. They are pressuring the government on austerity measures to reduce Greece's debt. Investors fear Greece won't be able to convince lenders that it can pay its debts -- and that it won't get the money it needs to avoid a default on debts that must be paid next month.

Late Monday, Greece's finance minister said that the 2 1/2-hour conference call was "productive and substantive." Hope that Greece might be closer to qualifying for rescue funds started a late comeback. The Dow gained about 100 points in the last hour of trading.

But investors also appeared pessimistic about a Federal Reserve policy decision expected Wednesday. Some economists believe that since the Fed decided to hold a two-day meeting instead of the originally planned one-day session, that it was preparing to take steps to stimulate the economy. However, other analysts doubt that the Fed will announce a new plan for the economy.

There is too much disagreement among Fed officials about monetary policy for a decision right now, said Ralph Fogel, head of investment strategy at Fogel Neale Partners in New York. "They'll have to let it play out at least a little while longer, and I think they'll wait until November," Fogel said.

Separately, President Barack Obama on Monday called for $1.5 trillion in new taxes to help reduce the U.S. deficit. He said, "we can't just cut our way out of this hole."

The proposal is being opposed by House Speaker John Boehner, who has said the Republican Party won't accept any tax increases to lower deficits. Obama's speech marked the start of a new round of deficit-reduction negotiations that are likely to be contentious.

For investors, the day's news added up to more uncertainty. "The market just can't stand not knowing what's going on," Fogel said.

Investors have been sensitive to each development that emerges from Europe, and that has helped feed the volatility in stocks the past few months.

"After every meeting in Europe there's a spin put on it -- either `this was good and a solution's really soon,' or someone looks the wrong way and the media says there's no solution," said Rob Lutts, president and chief investment officer of Boston-based Cabot Money Management.

If Greece were to default on its debt, other European countries with heavy debt would likely be judged less credit-worthy and have difficulty borrowing money. But the problems go beyond Europe. U.S. bank stocks have fallen on concerns that a default would make it hard for European banks to pay their bills -- including the billions of dollars that U.S. banks have lent them. There are concerns about a lending crisis similar to what the world saw in 2008.

There is also concern about a recession in Europe, which already has a weak economy. The companies in the S&P 500 get 20 percent of their net income from European countries. If their business suffers, that could also hurt the struggling U.S. economy.

The uncertainty wasn't limited to U.S. investors. In Europe, Germany's DAX closed 2.8 percent lower. France's CAC-40 fell 3 percent, and the FTSE 100 index of leading British shares fell 2 percent. Those markets closed before the news about the teleconference between Greece and its creditors.

Lutts, the Cabot analyst, said some investors are also uneasy about earnings reports that will start arriving in early October.

"In the last year or so we had a nice ramp-up in earnings -- that's history now," Lutts said. He said companies are contending with the steady rise this year in commodities and raw materials prices, and many are unable to raise their own prices because that hurt their ability to compete.

"The market is worried that (earnings reports) won't be rosy and that we'll see a downshift, not an upshift, in earnings."

Investors were again buying U.S. government debt, which is seen as a safe place when the economy is weak and stocks are falling. The yield on the 10-year Treasury note, which falls as investors buy bonds and push its price higher, fell to 1.95 percent, near its low for the year. It was at 2.07 percent late Friday.

The U.S. dollar, another asset seen as safe, also rose against a basket of foreign currencies. Concerns about the stability of the European economy pushed the Euro lower against the dollar, to $1.36 from $1.38 late Friday.

In corporate news, Goodrich Corp. rose 16 percent on speculation that United Technologies Corp. is interested in buying the aerospace manufacturer. United Technologies fell 1.2 percent.

Tyco International Ltd. rose 2 percent after the manufacturer announced a plan to split into three companies.

Lennar Corp. rose 5 percent after the homebuilder's earnings met Wall Street's expectations and revenue came in stronger than expected. The company said that while it delivered fewer homes in its fiscal third quarter, demand is picking up somewhat, driven by low home prices and all-time low interest rates. The company was cautious about the future, however, because of high unemployment.

Netflix fell 7 percent after the company said it was formally separating its online streaming service from its mail-in DVD rental service, which is being renamed Qwikster.

Chinese solar equipment factory Jinko Solar plunged 28 percent after it was forced to shut down one of its factories because of protests by local residents who claimed it was polluting the air and water.

About six stocks fell for every one that rose. Trading was light, at 3.7 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Investor optimism faded in a hurry Tuesday after two days of conferences ended with no resolution to Greece's debt crisis.

Stocks erased nearly all of their gains in the last hour of trading after rallying for much of the day on hopes the Fed would stimulate the economy.

At the closing bell, the Dow Jones industrial average was left with a gain of 7.65 points, or 0.1 percent, at 11,408.66. It had been up as much as 149.21 points earlier in the day.

The Standard & Poor's 500 index fell 2, or 0.2 percent, to 1,202.09. The Nasdaq composite fell 22.59, or 0.9 percent, to 2,590.24.

Many analysts believe the Fed will announce a new stimulus plan at the end of a two-day policy meeting Wednesday. But another two-day meeting, a teleconference between Greek officials and international lenders, spurred sellers late in the day.

After the teleconference, the European Commission said debt inspectors would continue to review Greece's progress on its budget goals early next week. That suggested to investors that a resolution to Greece's debt crisis wouldn't come in the next few days.

Greek Finance Minister Evangelos Venizelos attempted to convince the European Commission, International Monetary Fund and European Central Bank, known collectively as the Troika, that Greece can make deep budget cuts. Greece must meet the Troika's strict budget targets in order to qualify for a second installment of the rescue package it received in 2010 to keep it from defaulting on its debt.

Greece is only one of several European countries that investors fear may be at risk of failing to pay their debts. On Monday night, the ratings agency Standard & Poor's cut Italy's credit rating by one notch, citing the country's growing debt and weak growth outlook. Italy has the second-biggest debt burden among countries that use the euro, after Greece.

If Greece or Italy were to default, European banks that have lent money to the countries could lose billions of dollars. That could hurt the European banking system and have repercussions for U.S. banks, which have lent billions to their European counterparts. Investors are concerned that a default in Europe could cause a lending crisis similar to what happened after the collapse of Lehman Brothers in 2008.

*The NYSE DOW NYSE DOW closed  +7.65  points  HIGHER  or 0.07%   on Tuesday September  20*
Sym .......Last .......Change..........
Dow 11,408.66 +7.65 +0.07% 
Nasdaq 2,590.24 -22.59 -0.86% 
S&P 500 1,202.09 -2.00 -0.17% 
30-yr Bond 3.2110% +0.0190 

NYSE Volume 4,334,092,500 
Nasdaq Volume 1,949,517,000 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,363.71 +104.15 +1.98% 
DAX 5,571.68 +155.77 +2.88% 
CAC 40 2,984.05 +44.05 +1.50% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,124.80 -39.30 -0.94% 
Shanghai Comp 2,447.76 +9.96 +0.41% 
Taiwan We... 7,492.85 +11.97 +0.16% 
Nikkei 225 8,721.24 -142.92 -1.61% 
Hang Seng 19,014.80 +96.85 +0.51% 
Straits Times 2,780.84 +23.61 +0.86% 

http://finance.yahoo.com/news/Stock...5.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks end mixed as promise of Greek debt fix dims

Stocks erase their gains after conference call on Greece ends with little hope for quick fix *

Francesca Levy, AP Business Writer, On Tuesday September 20, 2011, 5:04 pm EDT 

NEW YORK (AP) -- Investor optimism faded in a hurry Tuesday after two days of conferences ended with no resolution to Greece's debt crisis.

Stocks erased nearly all of their gains in the last hour of trading after rallying for much of the day on hopes the Fed would stimulate the economy.

At the closing bell, the Dow Jones industrial average was left with a gain of 7.65 points, or 0.1 percent, at 11,408.66. It had been up as much as 149.21 points earlier in the day.

The Standard & Poor's 500 index fell 2, or 0.2 percent, to 1,202.09. The Nasdaq composite fell 22.59, or 0.9 percent, to 2,590.24.

Many analysts believe the Fed will announce a new stimulus plan at the end of a two-day policy meeting Wednesday. But another two-day meeting, a teleconference between Greek officials and international lenders, spurred sellers late in the day.

After the teleconference, the European Commission said debt inspectors would continue to review Greece's progress on its budget goals early next week. That suggested to investors that a resolution to Greece's debt crisis wouldn't come in the next few days.

Greek Finance Minister Evangelos Venizelos attempted to convince the European Commission, International Monetary Fund and European Central Bank, known collectively as the Troika, that Greece can make deep budget cuts. Greece must meet the Troika's strict budget targets in order to qualify for a second installment of the rescue package it received in 2010 to keep it from defaulting on its debt.

Greece is only one of several European countries that investors fear may be at risk of failing to pay their debts. On Monday night, the ratings agency Standard & Poor's cut Italy's credit rating by one notch, citing the country's growing debt and weak growth outlook. Italy has the second-biggest debt burden among countries that use the euro, after Greece.

If Greece or Italy were to default, European banks that have lent money to the countries could lose billions of dollars. That could hurt the European banking system and have repercussions for U.S. banks, which have lent billions to their European counterparts. Investors are concerned that a default in Europe could cause a lending crisis similar to what happened after the collapse of Lehman Brothers in 2008.

Investors have shifted between optimism and pessimism that the region's debt problems will be resolved. Stock prices have swung sharply for months in response to investors' changing mood. Moves of more than 100 points in the Dow have become commonplace.

Right now, hopes are not high that Greece will avoid a default, said David Smith, chief investment officer at Rockland Trust Investment Management Group, a firm based in Rockland, Mass., that manages about $1.7 billion in assets. "I'm sitting here, like a lot of investors, thinking we don't have anything like a concrete solution," he said.

A bleak forecast for U.S. economic growth added to fears the U.S. could be headed for a second recession, but sparked hopes that the Fed would be persuaded to enact stimulus measures.

The International Monetary Fund lowered its forecast for the country's growth this year. Some saw it as another reason for the Fed to act. The IMF said it expects the U.S. economy to grow only 1.5 percent this year and 1.8 percent in 2012. In June, it had forecast 2.5 percent growth in 2011 and 2.7 percent in 2012.

The IMF also lowered its outlook for the 17 countries that use the euro because it fears Greece will default on its debt.

In a sign that the market's afternoon rally was a cautious one, stocks were led higher by industries that tend to do well regardless of the economy, like utilities and health care. Investors are reluctant to take much risk, said Quincy Krosby, market strategist for Prudential Financial.

"The market already thinks the Fed has telegraphed that it wants to push down rates," said Krosby. "What you're witnessing now is traders taking profits."

After the close of trading, software company Oracle Corp. said its server business had weakened in its most recent quarter, sending the company's stock down 2.3 percent in after-hours trading.

In other corporate news, Carnival Corp. rose 5.1 percent after it said its 3 percent rise in quarterly earnings was due in part to higher ticket prices. There were concerns that consumers would cut back on travel because they're worried about the economy, but the cruise line's profit beat forecasts.

Ralph Lauren Corp. rose to an all-time high of $154.62 after an analyst upgraded the stock because of its strong international business and sales of higher-priced merchandise.

Apple Corp. also hit an all-time high of $422.86 a share. The company is seen as able to withstand a weak economy because of the huge popularity of its iPhones and iPads.

Netflix fell 9.5 percent a day after customers balked at the streaming video and DVD rental company's decision to separate its two businesses.

ConAgra Foods Inc. fell 1.7 percent after the food maker said higher costs for consumer foods sent its quarterly profit down 42 percent, below the expectations of Wall Street analysts.

Molycorp Inc. plunged 12 percent after a JPMorgan analyst downgraded the miner's stock because of a sharp drop in the price of rare-earth minerals.

Nearly two stocks fell for every one that rose. Trading was light, at 3.8 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

The Federal Reserve did what investors expected -- it said it would buy Treasury bonds to help the economy. Stocks then plunged because investors saw a grim forecast behind the Fed's plans.

The Fed said Wednesday it would buy long-term Treasurys and sell short-term ones to help the economy regain momentum. It surprised investors when it said it would include more 30-year bonds in its purchases than expected.

Financial analysts said stocks dropped as investors came to the conclusion that the Fed expects the economy to take years to recover.

"It's being viewed as perhaps an admission that this is a longer-term issue that the U.S. economy is facing and not one that's going to be solved over a couple of years," said Oliver Pursche, president of Gary Goldberg Financial Services.

The major indexes fluctuated as they often do after major Fed announcements. The losses accelerated in the last hour of trading.

The Dow Jones industrial average lost 283.82 points, or 2.5 percent, and closed at 11,124.84. The Standard & Poor's 500 index fell 35.33, or 2.9 percent, to 1,166.76 The Nasdaq composite fell 52.05, or 2 percent, to 2,538.19.

The yield on the 10-year Treasury note fell to a record low of 1.86 percent from late Tuesday's 1.93 percent

*The NYSE DOW NYSE DOW closed -283.82   points   LOWER  or  -2.49%  on Wednesday September  21*
Sym .......Last .......Change..........
Dow 11,124.84 -283.82 -2.49% 
Nasdaq 2,538.19 -52.05 -2.01% 
S&P 500 1,166.76 -35.33 -2.94% 
30-yr Bond 3.0390% -0.1720 

NYSE Volume 5,520,235,000 
Nasdaq Volume 2,199,359,750 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,288.41 -75.30 -1.40% 
DAX 5,433.80 -137.88 -2.47% 
CAC 40 2,935.82 -48.23 -1.62% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,153.60 +28.80 +0.70% 
Shanghai Comp 2,512.96 +65.21 +2.66% 
Taiwan We... 7,535.88 +43.03 +0.57% 
Nikkei 225 8,741.16 +19.92 +0.23% 
Hang Seng 18,824.17 -190.63 -1.00% 
Straits Times 2,791.79 +10.95 +0.39% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks plunge after Fed announces stimulus steps

Stocks dive after Fed says it will sell short-term debt, buy long-term bonds to help economy *

Francesca Levy and Chip Cutter, AP Business Writers, On Wednesday September 21, 2011, 5:12 pm 

NEW YORK (AP) -- The Federal Reserve did what investors expected -- it said it would buy Treasury bonds to help the economy. Stocks then plunged because investors saw a grim forecast behind the Fed's plans.

The Fed said Wednesday it would buy long-term Treasurys and sell short-term ones to help the economy regain momentum. It surprised investors when it said it would include more 30-year bonds in its purchases than expected.

Financial analysts said stocks dropped as investors came to the conclusion that the Fed expects the economy to take years to recover.

"It's being viewed as perhaps an admission that this is a longer-term issue that the U.S. economy is facing and not one that's going to be solved over a couple of years," said Oliver Pursche, president of Gary Goldberg Financial Services.

The major indexes fluctuated as they often do after major Fed announcements. The losses accelerated in the last hour of trading.

The Dow Jones industrial average lost 283.82 points, or 2.5 percent, and closed at 11,124.84. The Standard & Poor's 500 index fell 35.33, or 2.9 percent, to 1,166.76 The Nasdaq composite fell 52.05, or 2 percent, to 2,538.19.

The yield on the 10-year Treasury note fell to a record low of 1.86 percent from late Tuesday's 1.93 percent.

After a two-day meeting, the Fed said it would buy $400 billion in 6-year to 30-year Treasurys by June 2012. Over the same period, it planned to sell $400 billion of Treasurys maturing in 3 years or less. The move is intended to drive down interest rates on long-term government debt, and could lower rates on mortgages and other loans.

Those purchases are intended to send long-term rates down. The inclusion of more 30-year bonds than expected indicated that the Fed sees a need to keep rates lower for an extended period. And that took investors by surprise, Pursche said.

"When the Fed decides to take this type of action, it's because things are serious," Pursche said.

Wednesday's trading recalled the sharp losses the market has suffered this summer as investors feared that the country was heading toward another recession.

The Fed had some bleak remarks about the state of the economy in the statement that accompanied its decision to buy more bonds. The Fed said the economy has "significant downside risks." One of those risks is the volatility in financial markets around the world. It also listed a number of problems that won't be easily solved: high unemployment, a depressed housing market and consumer spending that is growing only at a slow pace.

There are also concerns about problems overseas, including the debt crisis in Europe that investors believe could affect the U.S. The International Monetary Fund said Wednesday the global financial system is in its most vulnerable state since the 2008 financial crisis. In a semi-annual report, the IMF said the risk to banks and financial markets has grown in recent months.

The Fed's new bond buying plan has been dubbed "Operation Twist" because it is designed to "twist" long-term rates relative to shorter ones. The last time a similar program was used was in the early 1960s, when the twist was the rage on dance floors.

This is the third major bond-buying program by the Fed in less than three years.

"That is perhaps a recognition that the Fed is running out of firepower and resorting to some arcane techniques resurrected from the vault of history," said Lawrence Creatura, portfolio manager at Federated Investors.

Investors may also be doubting the Fed's ability to drive down Treasury yields much more from their current levels.

"Let's face it: with a 10-year Treasury offering 1.90 percent, there's not a whole lot of room for there to be a major impact," said Mark Lamkin, the head of Lousiville, KY-based Lamkin Wealth Management.

While initial investor reaction to the decision was negative, it's common for stocks to change direction in the minutes, hours and days following an important Fed announcement, said Phil Orlando, chief equity market strategist for Federated Investors.

"It's not unusual for the market to drop a percent or two after the decision, then it may rally the next day, then it may fall again. People are confused, they don't really know how to settle it in," said Orlando.


----------



## bigdog

Source: http://finance.yahoo.com

Investors began giving in to fears Thursday that a global recession is already under way, and stock markets shuddered around the world. Selling started in Asia, picked up speed in Europe and sent Wall Street near its worst finish of the year.

The Dow Jones industrial average lost 391 points and at one point was down more than 500, a return to the volatility that gripped the market this summer.

The Dow fell 391.01 points, or 3.5 percent, and closed at 10,733.83. The selling was not just steep but broad: Nineteen stocks on the New York Stock Exchange fell for every one that rose. At one point, the Dow was down more than 500 points.

*The NYSE DOW NYSE DOW closed -391.01   points  LOWER or -3.51%   on Thursday September  22*
Sym .......Last .......Change..........
Dow 10,733.83 -391.01 -3.51% 
Nasdaq 2,455.67 -82.52 -3.25% 
S&P 500 1,129.56 -37.20 -3.19% 
30-yr Bond 2.7860% -0.2530  

NYSE Volume 8,032,773,000 
Nasdaq Volume 2,953,304,500 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,041.61 -246.80 -4.67% 
DAX 5,164.21 -269.59 -4.96% 
CAC 40 2,781.68 -154.14 -5.25% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,044.70 -108.90 -2.62% 
Shanghai Comp 2,443.06 -69.91 -2.78% 
Taiwan We... 7,305.50 -230.38 -3.06% 
Nikkei 225 8,560.26 -180.90 -2.07% 
Hang Seng 17,911.95 -912.22 -4.85% 
Straits Times 2,720.53 -71.26 -2.55% 

http://finance.yahoo.com/news/Dow-f...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Dow falls 391 on worldwide fears about economy

Wall Street and world markets fall sharply; Dow loses 391 as investors focus on recession fear *

Francesca Levy, AP Business Writer, On Thursday September 22, 2011, 6:10 pm 

NEW YORK (AP) -- Investors began giving in to fears Thursday that a global recession is already under way, and stock markets shuddered around the world. Selling started in Asia, picked up speed in Europe and sent Wall Street near its worst finish of the year.

The Dow Jones industrial average lost 391 points and at one point was down more than 500, a return to the volatility that gripped the market this summer.

One financial indicator after another showed that investors are losing hope that the global economy can keep growing. The price of oil and metals such as copper, which depend on economic demand, fell sharply. Traders bought Treasury bonds and the dollar for safety.

FedEx, a company that ships so many goods it is considered a barometer of the U.S. economy, had to lower its earnings forecast for the year because customers are putting off purchases of electronics and other gadgets from China.

The Dow fell 391.01 points, or 3.5 percent, and closed at 10,733.83. The selling was not just steep but broad: Nineteen stocks on the New York Stock Exchange fell for every one that rose. At one point, the Dow was down more than 500 points.

"Markets rely on confidence and certainty. Right now there is neither," said John Canally, an economic strategist at LPL Financial, an investment firm in Boston.

It was the second consecutive rout in the stock market since Wednesday afternoon, when the Federal Reserve announced a change in strategy for fighting the economic slowdown -- a bid to lower long-term interest rates and get people and companies to spend more money.

Economic news was bad around the world. A closely watched survey in Europe indicated a recession could be on the way there, and a manufacturing survey suggested a slowdown in China, which has been one of the hottest economies.

"The probability of going back into recession is higher now than at any point in the recovery," said Tim Quinlan, an economist at Wells Fargo. He put his odds of a recession at 35 percent.

Christine Lagarde, the head of the International Monetary Fund, said the world economy was "entering a dangerous phase." She told an annual meeting of the IMF and World Bank that nations need credible plans to get their debt under control.

In the United States, investors poured money into American government debt, which they see as less risky than stocks even as the nation wrestles with how to tame its long-term budget problems.

The yield on the 10-year Treasury note hit 1.71 percent -- the lowest since the Federal Reserve Bank of St. Louis started keeping daily records half a century ago. It was 3.66 percent as recently as February, when the economic forecast was brighter.

Yields fall as investors buy bonds and send their prices higher. Small yields are a sign that investors are just looking for a safe place to park their cash.

"They want to get their money back," said Guy LeBas, chief fixed income strategist at Janney Capital Markets. "How much they earn is secondary."

Besides U.S. bonds, investors bought American dollars. The dollar rose to an eight-month high against the euro because of fears that Europe, staggered by debt, will bear the worst of a global downturn.

The Dow almost matched its lowest close of the year, 10,719 on Aug. 10. The stock market was seized by volatility last month, and at one point the Dow strung together four consecutive days of 400-point moves up or down.

In a sign of what a rocky year it has been for the stock market, Thursday's decline isn't even close to the biggest in 2011. The Dow fell 634 points on Aug. 8, 519 points on Aug. 10 and 512 points on Aug. 4.

It would have to fall 485 more points to reach the traditional definition of a bear market -- a 20 percent decline. The Dow was at 12,810 on April 29.

The Standard & Poor's 500 index, a broader measure of the stock market, and the Nasdaq composite, which is more heavily weighted with technology stocks, both fell more than 3 percent for the day.

To get the economy going, President Barack Obama has proposed a $447 billion package of tax cuts, public works projects and benefits for the unemployed, but it faces major opposition in the Republican-controlled House.

While the market was falling Thursday, the president stood in front of an aging bridge that connects Ohio and Kentucky. He exhorted Republicans: "Help us put this country back to work. Pass this jobs bill right away."

Top Republicans in Congress accused Obama of trying to score political points. If Congress fails to pass the jobs bill, it would leave the Fed action this week as the only major new initiative designed to help the economy.

The Fed announced Wednesday that it would shuffle $400 billion of its own holdings in hopes of reducing interest rates on long-term loans. The plan is known as Operation Twist, a nod to a similar approach taken by the Fed during the time of Chubby Checker in the early 1960s.

The central bank hopes that if people and businesses are able to borrow money more cheaply, they will spend throughout the economy and give it a lift.

Still, the Fed announcement troubled investors because it came with a bleak assessment of the future. The Fed said it sees "significant downside risks to the economic outlook," including volatility in overseas markets.

"In financial markets, the thinking seems to be: If the Fed is worried, the rest of us ought to be really worried," said Brian Gendreau, senior investment strategist at Cetera Financial Group.

Economists say the Fed action may help, but probably not much.

"Counting on the Fed to get us out of this is a mistake," said Uri Landesman, president of Platinum Partners, a hedge fund.

The price of commodities like oil and metals dropped steeply because investors worried that demand for them would fall if the world economy keeps slowing or falls into recession again.

Oil dropped more than $5 a barrel to $80.51, its lowest settling price since Aug. 9. The selling reflected concerns that world demand for oil will fall if the economy slows.

"This is just sudden and strong confirmation that the economy is not improving," said Michael Lynch, president of Strategic Energy & Economic Research. "Energy demand is going to be very poor."

The price of silver fell 9.6 percent. And gold fell 3.7 percent. Earlier this summer, gold set one record high after another. Investors wanted it both as a safe place for their money and to cash in on what seemed an unstoppable run. Gold, which was as high as $1,907 two weeks ago, finished at $1,741.70.

Stocks fell sharply even though the New York Stock Exchange executed a rule designed to smooth trading. The exchange invoked Rule 48, which limits how much information is released about stock trades.

Stock volatility rose anyway. The VIX, an index that measures investor fear, rose about 11 percent to 41.35, double the normal level.

It's common for stocks to move dramatically after the Fed makes a big announcement. But the number of trades that can be made instantly has also gone up in recent years, causing big swings to happen more quickly. Computer systems are programmed to analyze charts, capitalize on tiny changes in price and execute trades with no human intervention.

"These major moves are much more compressed, time-wise, than in the past," Landesman said. "A 5 percent move can now happen in a couple of minutes as opposed to a week or two."

Some analysts called the heavy selling an overreaction.

"The facts show we are not in a recession, and we are not borderline recession," Chris Rupkey, chief financial economist with Bank of Tokyo-Mitsubishi, wrote in a report Thursday.

Asian stocks were hammered to start the world's trading. The Nikkei index in Japan fell 2.1 percent. The main stock averages fell 2.8 percent in China, 2.9 percent in South Korea, 2.6 percent in Australia and almost 5 percent in Hong Kong.

Europe fared even worse. The stock market fell 5.3 percent in France, 5 percent in Germany and 4.7 percent in Britain.


----------



## bigdog

Source: http://finance.yahoo.com

A brutal week for the stock market ended on a quiet note Friday, but worries about the global economy again pounded copper, gold and other commodities.

Fears about Europe's debt increased early Friday on news that Moody's Investors Service had downgraded its ratings of eight Greek banks by two notches. Investors have been waiting in vain for news that Greece will receive the next installment of a bailout package in time to avoid defaulting on its debt next month. If it defaults, banks throughout Europe are likely to lose the money they invested in Greek bonds -- and investors fear that could ultimately lead to a recession in Europe and the U.S.

Finance ministers from 20 large countries pledged Friday to take "all necessary actions to preserve the stability of the banking systems and financial markets." But they offered nothing specific.

Europe's problems helped feed the heavy selling in stocks this week. But the chief worry was that the U.S. is headed for another recession and that the Federal Reserve is running out of ways to fight it.

The Dow Jones industrial average rose 37.65 points Friday, or 0.4 percent, to close at 10,771.48. The Dow lost 6.4 percent for the week, its biggest drop since the week that ended Oct. 10, 2008, when it fell 18 percent. That was at the height of the financial crisis.

The S&P 500 index rose 6.87 points Friday, or 0.6 percent, to 1,136.43. For the week, the index dropped 6.5 percent, its worst slide since the first week of August.

The Nasdaq rose 27.56, or 1.1 percent, to 2,483.23.

*The NYSE DOW NYSE DOW closed  +37.65  points  HIGHER or  +0.35%  on Friday September  23*
Sym .......Last .......Change..........
Dow 10,771.48 +37.65 +0.35% 
Nasdaq 2,483.23 +27.56 +1.12% 
S&P 500 1,136.43 +6.87 +0.61% 
30-yr Bond 2.8710% +0.0850 

NYSE Volume 5,808,493,500 
Nasdaq Volume 2,006,806,625 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,066.81 +25.20 +0.50% 
DAX 5,196.56 +32.35 +0.63% 
CAC 40 2,810.11 +28.43 +1.02% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 3,978.50 -66.20 -1.64% 
Shanghai Comp 2,433.16 -9.90 -0.41% 
Taiwan We... 7,046.22 -259.28 
Nikkei 225 8,560.26 -180.90 -2.07% 
Hang Seng 17,668.83 -243.12 -1.36% 
Straits Times 2,698.80 -21.73 -0.80% 

http://finance.yahoo.com/news/US-st...5.html?x=0&sec=topStories&pos=1&asset=&ccode=

*US stocks mixed after brutal week of selling

US stocks mixed after touching new yearly lows; recession fears fuel volatile trading *

Daniel Wagner and Matthew Craft, AP Business Writer, On Friday September 23, 2011, 5:54 pm 

A brutal week for the stock market ended on a quiet note Friday, but worries about the global economy again pounded copper, gold and other commodities.

Fears about Europe's debt increased early Friday on news that Moody's Investors Service had downgraded its ratings of eight Greek banks by two notches. Investors have been waiting in vain for news that Greece will receive the next installment of a bailout package in time to avoid defaulting on its debt next month. If it defaults, banks throughout Europe are likely to lose the money they invested in Greek bonds -- and investors fear that could ultimately lead to a recession in Europe and the U.S.

Finance ministers from 20 large countries pledged Friday to take "all necessary actions to preserve the stability of the banking systems and financial markets." But they offered nothing specific.

Europe's problems helped feed the heavy selling in stocks this week. But the chief worry was that the U.S. is headed for another recession and that the Federal Reserve is running out of ways to fight it.

The Dow Jones industrial average rose 37.65 points Friday, or 0.4 percent, to close at 10,771.48. The Dow lost 6.4 percent for the week, its biggest drop since the week that ended Oct. 10, 2008, when it fell 18 percent. That was at the height of the financial crisis.

The S&P 500 index rose 6.87 points Friday, or 0.6 percent, to 1,136.43. For the week, the index dropped 6.5 percent, its worst slide since the first week of August.

The Nasdaq rose 27.56, or 1.1 percent, to 2,483.23.

Nearly two stocks rose for every one that fell on the New York Stock Exchange Friday. Trading volume was slightly above average at 5.1 billion shares.

John Merrill, chief investment officer at Tanglewood Wealth Management in Houston, said Friday's respite might not last.

"Nothing goes in a straight line, even markets that are declining steeply," he said. Merrill said the market was moderating as traders bought shares that looked like bargains after the week's selling. But the problems that have weighed on markets for months now show no sign of letting up.

Bargain-hunters "bring some stability into the market for a day or two, until they've used up their buying power," Merrill said. "Then the macro issues surface again" and volatility returns.

Commodities from soybeans to metals sank Friday. Gold dropped 5.9 percent, copper lost 6 percent and silver 17.7 percent. Stocks in commodities producers also dropped. Range Resources Corp. fell 11 percent to $58.53. Newmont Mining Corp. fell 3.6 percent to $62.86.

Treasury yields rose slightly from record lows reached Thursday as the quieter stock market reduced traders' hunger for lower-risk bets such as U.S. government debt. The yield on the benchmark 10-year Treasury note rose to 1.80 percent from 1.71 percent late Thursday. Demand for Treasurys drives their prices higher and their yields lower.

Traders had sold gold to raise cash during Thursday's sell-off. They dumped other commodities because they tend to lose value when the economy weakens, such as oil and raw materials.

The rout started Wednesday afternoon after the Federal Reserve announced its third plan in less than three years to lower long-term interest rates. But the Fed unnerved investors with a dismal view of the economy's health, spotting "significant downside risks to the economic outlook, including strains in financial markets." Investors interpreted the Fed's plans and its statement as indicating that a full economic recovery is years away.

The bleak tone helped drive the Dow and S&P down more than 2 percent Wednesday. When trading resumed on Thursday, the selling was furious from the start. The Dow fell as much as 527 points before regaining some ground and closing down 391, or 3.5 percent.

A report out Thursday that showed a drop in Chinese manufacturing added to the list of concerns. Demand from China, the world's second-largest economy, has helped give other countries from Indonesia to Canada a lift. But its central bank has been raising interest rates to slow the country's growth and battle inflation.

The plunge in stocks this week followed five straight days of gains. The change in heart came as hopes for a resolution to Europe's debt were crushed -- an expected deal on the next installment of a bailout package for Greece didn't come. That raised the specter of a default. That combined with the Fed's disappointing assessment of the U.S. economy had investors fleeing any investment that looked risky. The dollar and Treasurys were among the few investments that attracted buyers.

Because the stock market tends to move on investors' expectations for the next six months, this week's drop signals that investors believe the U.S. economy will keep weakening. The reports released in the last few months about employment, consumer spending, manufacturing and housing show that the recovery from the recession that ended in June 2009 has stalled. There is little reason for investors to expect the economic data to pick up anytime soon.

The next two weeks will bring the first look at how the economy did during September. Among them: the Conference Board's consumer confidence index for this month, the Institute for Supply Management's reports on the manufacturing and service industries and the Labor Department's employment report.

The employment report, arguably the most important data for investors, will have the power to calm investors' fears or send stocks plunging again. The August report showed that virtually no new jobs were created. At this point, economists are expecting that 75,000 jobs were created during September. That is not a strong enough number to pull the unemployment rate down from its current 9.1 percent, but it might give investors reason to buy cautiously. The report is scheduled for Friday, Oct. 7.

Investors are also looking anxiously toward third-quarter earnings reports that will start in early October. Expectations are low in the market, given the slowing economy. But financial analysts are forecasting that earnings for the S&P 500 companies will be up an average 13 percent for the July-September period.

3761


----------



## bigdog

Source: http://finance.yahoo.com

Stocks had their biggest gains in more than two weeks Monday after European officials pledged to take action to resolve the region's debt problems. The Dow Jones industrial average jumped 272 points, making up about a third of last week's losses.

European ministers told a meeting of global finance leaders in Washington over the weekend that they would take bolder steps to fight the debt crisis, which threatens to slow the global economy. President Barack Obama called on Europe's leadership Monday to move more quickly to address the problems.

Germany wants banks and private institutions that hold Greek bonds to take a bigger loss on those holdings to reduce Greece's debt burden. European officials have talked about increasing the size of Europe's $595 billion rescue fund by allowing it to take loans from the European Central Bank. Pressure is also mounting for the central bank to lower interest rates.

"The news leaking out of Europe is giving investors hope that the politicians and central bankers in Europe might be putting together a plan," said Channing Smith, managing director of Capital Advisors Inc. "The devil's in the details."

The Dow Jones industrial average shot up 272.38 points, or 2.5 percent, to close at 11,043.86. It was the biggest gain since Sept. 7. JPMorgan Chase & Co. jumped 7 percent to $31.65, the most of the 30 stocks in the Dow.

The Standard & Poor's 500 rose 26.52, or 2.3 percent, to 1,162.95. The Nasdaq composite rose 33.46, or 1.4 percent, to 2,516.69.

*The NYSE DOW NYSE DOW closed  +272.38  points  HIGHER  or  +2.53%  on Monday September  26*
Sym .......Last .......Change..........
Dow 11,043.86 +272.38 +2.53% 
Nasdaq 2,516.69 +33.46 +1.35% 
S&P 500 1,162.95 +26.52 +2.33% 
30-yr Bond 3.0020% +0.1310 

NYSE Volume 5,365,772,000 
Nasdaq Volume 2,036,288,750 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,089.37 +22.56 +0.45% 
DAX 5,345.56 +149.00 +2.87% 
CAC 40 2,859.34 +49.23 +1.75% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 3,927.60 -50.90 -1.28% 
Shanghai Comp 2,393.18 -39.98 -1.64% 
Taiwan We... 6,877.12 -169.10 -2.40% 
Nikkei 225 8,374.13 -186.13 -2.17% 
Hang Seng 17,407.80 -261.03 -1.48% 
Straits Times 2,656.92 -41.88 -1.55% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks jump on hopes for a Europe fix; Dow up 272

Stocks rally as hopes build for a resolution to Europe's debt crisis; Dow soars 272 points *

Chip Cutter and Francesca Levy, AP Business Writers, On Monday September 26, 2011, 6:00 pm EDT 

NEW YORK (AP) -- Stocks had their biggest gains in more than two weeks Monday after European officials pledged to take action to resolve the region's debt problems. The Dow Jones industrial average jumped 272 points, making up about a third of last week's losses.

European ministers told a meeting of global finance leaders in Washington over the weekend that they would take bolder steps to fight the debt crisis, which threatens to slow the global economy. President Barack Obama called on Europe's leadership Monday to move more quickly to address the problems.

Germany wants banks and private institutions that hold Greek bonds to take a bigger loss on those holdings to reduce Greece's debt burden. European officials have talked about increasing the size of Europe's $595 billion rescue fund by allowing it to take loans from the European Central Bank. Pressure is also mounting for the central bank to lower interest rates.

"The news leaking out of Europe is giving investors hope that the politicians and central bankers in Europe might be putting together a plan," said Channing Smith, managing director of Capital Advisors Inc. "The devil's in the details."

The Dow Jones industrial average shot up 272.38 points, or 2.5 percent, to close at 11,043.86. It was the biggest gain since Sept. 7. JPMorgan Chase & Co. jumped 7 percent to $31.65, the most of the 30 stocks in the Dow.

The Standard & Poor's 500 rose 26.52, or 2.3 percent, to 1,162.95. The Nasdaq composite rose 33.46, or 1.4 percent, to 2,516.69.

About three stocks rose for every one that fell on the New York Stock Exchange. All 10 industry groups in the S&P 500 rose.

Financial stocks had the biggest gains in the S&P 500, rising 4.4 percent. Banks have the most to lose if Europe's debt crisis gets worse, so investors picked up those stocks as hopes built that a resolution could be on the way. Huntington Bancshares Inc. rose 8.3 percent, SunTrust Banks Inc. rose 8 percent.

Berkshire Hathaway's Class B shares rose 8.6 percent after the company announced a plan to repurchase stock for the first since Warren Buffett took control in 1965.

Investors have been on edge about Europe's debt problems for months. The Dow plunged 6.4 percent last week, its biggest drop since the week ended Oct. 10, 2008 at the height of the financial crisis.

The market's volatility has made many investors nervous. Since the first week of August, the Dow has closed up or down more than 200 points a total of 16 times. There were only four swings of 200 points or more in the other seven months of 2011.

President Barack Obama said in a town hall meeting that Europe's financial crisis "is scaring the world" and that the actions the region's leaders have taken so far "haven't been as quick as they need to be."

Greece is at risk of defaulting on its debt next month if it does not receive the next installment of a bailout package. If that happens, banks that hold Greek bonds would lose money. Analysts also worry that the economies in Europe and the U.S. could slip into another recession.

News that sales of new homes in the U.S. fell to a six-month low briefly sent indexes lower in morning trading, but by midday Eastern the Dow and S&P were higher.

Boeing Co. rose 4.2 percent after the company delivered its first 787 aircraft to Japan's All Nippon Airways. An analyst said the company's earnings should rise for the next few years if the aircraft maker is able to maintain steady production.

Clorox Co. fell 4.3 percent after Carl Icahn withdrew his proposal for a new slate of directors. That suggested the activist investor was unable to find a buyer for the consumer products company.

Eastman Kodak Co. plunged 26.9 percent after the company borrowed $160 million because most of its cash is deposited overseas. Some analysts took that as a sign that the company is running out of cash as it tries to reinvent itself in the era of digital photography.

Trading volume was a bit heavier than average at 4.5 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks rose broadly Tuesday on hopes that Europe was moving closer to resolving its debt crisis. The Dow Jones industrial average closed up 146 points as industrial and materials companies led the market higher.

Germany's chancellor Angela Merkel said her country would do whatever it could to help Greece regain investors' confidence. Greece's finance minister also said that country would receive the next round of bailout loans in time to avoid a default. Greece was at risk of running out of money by mid-October if it did not receive the funds.

"Europeans are finally starting to understand that they need to act with some force to get ahead of the European debt crisis," said John Briggs, a fixed-income strategist at RBS.

The Dow rose 146.83 points, or 1.3 percent, to close at 11,190.69. It had been up as many as 325 points earlier. The Dow has added 419 points over the last two days, making up more than half of its 737-point plunge last week.

The Standard & Poor's 500 index rose 12.43, or 1.1 percent, to 1,175.38. Materials stocks led the S&P higher. Specialty metals company Allegheny Technologies Inc. rose 7.4 percent, the most in the index.

The Nasdaq composite rose 30.14, or 1.2 percent, to 2,546.83.

The gains were broad. Five stocks rose for every one that fell on the New York Stock Exchange. All 10 company groups that make up the Standard & Poor's 500 index rose. Volume was slightly higher than average at 4.9 billion shares.

*The NYSE DOW NYSE DOW closed +146.83   points  HIGHER or  +1.33%  on Tuesday September  27*
Sym .......Last .......Change..........
Dow 11,190.69 +146.83 +1.33% 
Nasdaq 2,546.83 +30.14 +1.20% 
S&P 500 1,175.38 +12.43 +1.07% 
30-yr Bond 3.1160% +0.1140 

NYSE Volume 5,554,131,000 
Nasdaq Volume 2,121,217,000 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,294.05 +204.68 +4.02% 
DAX 5,628.44 +282.88 +5.29% 
CAC 40 3,023.38 +164.04 +5.74% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,063.50 +135.90 +3.46% 
Shanghai Comp 2,415.05 +21.87 +0.91% 
Taiwan We... 7,089.95 +212.83 +3.09% 
Nikkei 225 8,609.95 +235.82 +2.82% 
Hang Seng 18,130.55 +722.75 +4.15% 
Straits Times 2,725.91 +71.60 +2.70%  

http://finance.yahoo.com/news/Stock...3.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks rise for third day on optimism about Europe

Stocks rise on hopes that European leaders are close to making a plan to resolve debt crisis *

Chip Cutter, AP Business Writer, On Tuesday September 27, 2011, 5:45 pm EDT 

NEW YORK (AP) -- Stocks rose broadly Tuesday on hopes that Europe was moving closer to resolving its debt crisis. The Dow Jones industrial average closed up 146 points as industrial and materials companies led the market higher.

Germany's chancellor Angela Merkel said her country would do whatever it could to help Greece regain investors' confidence. Greece's finance minister also said that country would receive the next round of bailout loans in time to avoid a default. Greece was at risk of running out of money by mid-October if it did not receive the funds.

"Europeans are finally starting to understand that they need to act with some force to get ahead of the European debt crisis," said John Briggs, a fixed-income strategist at RBS.

The Dow rose 146.83 points, or 1.3 percent, to close at 11,190.69. It had been up as many as 325 points earlier. The Dow has added 419 points over the last two days, making up more than half of its 737-point plunge last week.

The Standard & Poor's 500 index rose 12.43, or 1.1 percent, to 1,175.38. Materials stocks led the S&P higher. Specialty metals company Allegheny Technologies Inc. rose 7.4 percent, the most in the index.

The Nasdaq composite rose 30.14, or 1.2 percent, to 2,546.83.

The gains were broad. Five stocks rose for every one that fell on the New York Stock Exchange. All 10 company groups that make up the Standard & Poor's 500 index rose. Volume was slightly higher than average at 4.9 billion shares.

Small companies rose more than larger ones, a sign that investors were moving money into riskier investments. The Russell 2000 index, a benchmark for small-cap stocks, rose 2.2 percent.

European markets also closed sharply higher. Germany's DAX rose 5.3 percent, France's CAC-40 5.7 percent. Britain's FTSE 100 rose 4 percent.

The encouraging signs from Europe also sent commodities prices higher. Investors fear that a blowup in Europe's debt crisis could drag down economic growth across the globe. That would reduce demand for raw materials such as crude oil and copper.

Oil soared 5.3 percent, copper 4.8 percent. That helped the stocks of energy producers and mining companies. Freeport-McMoRan Copper & Gold Inc. rose 3.1 percent and Exxon Mobil Corp. rose 1.7 percent. Gold rose 3.6 percent, its first gain in a week.

Analysts cautioned that even a small dose of bad news from Europe or the U.S. economy could push stocks right back down again.

"This is a news, rumor-driven rally," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research in Cincinnati. "This is still a very, very risky market."

That was evident late in the day when the Financial Times reported that a split had emerged among European leaders over the bailout terms for Greece's debt. The Dow had been up nearly 300 points shortly before the FT published the report on its website at 2:48 Eastern. Within an hour, those gains faded and the Dow closed up 147 points.

Worries about Europe have weighed on the stock market for months. The S&P 500, a benchmark for many U.S. mutual funds, has fallen 13 percent since July 22, shortly after spiking yields on Italian and Spanish bonds brought fears that the region's debt crisis could spread beyond peripheral countries like Greece and Ireland.

Analysts say more needs to be done to fight Europe's debt crisis. Finance ministers have been pushing to increase the size of Europe's rescue fund. Economists also want the European Central Bank to lower interest rates to help spur the economy.

In the U.S., the threat of another budget crisis was averted late Monday when the Senate passed legislation to avoid a government shutdown.

Home prices rose for a fourth straight month in most major U.S. cities in July. A report on Tuesday also showed that consumer confidence improved slightly in September after plummeting in August.

Walgreen Co. fell 6.3 percent, the most in the S&P, after the drugstore operator said it is ending its relationship with Express Scripts Inc. That deal is worth $5.3 billion per year, but Walgreen said Express Scripts was not paying it enough money to fill prescriptions.

Blackberry maker Research In Motion Ltd. jumped 4.5 percent after rumors spread that billionaire investor Carl Icahn has bought a stake in the company, suggesting that the company could be in play.


----------



## bigdog

Source: http://finance.yahoo.com

A three-day winning streak in the stock market came to an end Wednesday as investors worried about Europe's ability to contain its debt crisis. The Dow Jones industrial average fell 180 points. Raw materials companies had the biggest declines after prices for commodities like copper and oil fell sharply.

Traders focused on remarks from German Chancellor Angela Merkel suggesting that the second bailout package for Greece might have to be renegotiated. Several European leaders want banks to take bigger losses on Greek bonds. France and the European Central Bank oppose the idea.

Germany's parliament is set to vote Thursday on a measure that would give a European rescue fund more powers to fight the region's debt crisis. Finland's parliament approved the proposal Wednesday, lifting some uncertainty over the debt crisis issue which has been dogging financial markets since late July.

"This is a market that has been fluctuating and is thoroughly susceptible to any news, any rumors, any innuendos," about Europe, said Quincy Krosby, market strategist at Prudential Financial.

The Dow Jones industrial average fell 179.79 points, or 1.6 percent, to close at 11,010.90. It had gained 413 points over the past two days.

The Standard & Poor's 500 index fell 24.32, or 2.1 percent, to 1,151.06.

The Nasdaq composite index fell 55.25, or 2.2 percent, to 2,491.58

The declines were broad. Five stocks fell for one that rose on the New York Stock Exchange. Only 13 of the stocks in the S&P 500 rose. Four were flat.

*The NYSE DOW NYSE DOW closed  -179.79  points  LOWER or  -1.61%   on Wednesday September  28*
Sym .......Last .......Change..........
Dow 11,010.90 -179.79 -1.61% 
Nasdaq 2,491.58 -55.25 -2.17% 
S&P 500 1,151.06 -24.32 -2.07% 
30-yr Bond 3.0920% -0.0240 

NYSE Volume 4,849,289,500 
Nasdaq Volume 1,954,917,625 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,217.63 -76.42 -1.44% 
DAX 5,578.42 -50.02 -0.89% 
CAC 40 2,995.62 -27.76 -0.92% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,097.70 +34.20 +0.84% 
Shanghai Comp 2,392.06 -22.99 -0.95% 
Taiwan We... 7,146.98 +57.03 +0.80% 
Nikkei 225 8,615.65 +5.70 +0.07% 
Hang Seng 18,011.06 -119.49 -0.66% 
Straits Times 2,701.17 -24.74 -0.91% 

http://finance.yahoo.com/news/Dow-d...9.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Dow drops 180 points, ending 3-day winning streak

Stock market snaps three-day winning streak on worries about Europe; Dow falls 180 points *

Chip Cutter, AP Business Writer, On Wednesday September 28, 2011, 6:01 pm 

NEW YORK (AP) -- A three-day winning streak in the stock market came to an end Wednesday as investors worried about Europe's ability to contain its debt crisis. The Dow Jones industrial average fell 180 points. Raw materials companies had the biggest declines after prices for commodities like copper and oil fell sharply.

Traders focused on remarks from German Chancellor Angela Merkel suggesting that the second bailout package for Greece might have to be renegotiated. Several European leaders want banks to take bigger losses on Greek bonds. France and the European Central Bank oppose the idea.

Germany's parliament is set to vote Thursday on a measure that would give a European rescue fund more powers to fight the region's debt crisis. Finland's parliament approved the proposal Wednesday, lifting some uncertainty over the debt crisis issue which has been dogging financial markets since late July.

"This is a market that has been fluctuating and is thoroughly susceptible to any news, any rumors, any innuendos," about Europe, said Quincy Krosby, market strategist at Prudential Financial.

The Dow Jones industrial average fell 179.79 points, or 1.6 percent, to close at 11,010.90. It had gained 413 points over the past two days.

The Standard & Poor's 500 index fell 24.32, or 2.1 percent, to 1,151.06.

The Nasdaq composite index fell 55.25, or 2.2 percent, to 2,491.58

The declines were broad. Five stocks fell for one that rose on the New York Stock Exchange. Only 13 of the stocks in the S&P 500 rose. Four were flat.

Raw materials stocks fell the most of any industry group in the S&P 500, 4.5 percent. Investors fear that Europe's problems could cause the global economy to slip into another recession, weakening demand for basic materials such as copper. The price of copper plunged 5.6 percent; crude oil fell 3.8 percent to $81.21 barrel.

Miner Freeport-McMoRan Copper & Gold Inc. fell 7.2 percent, and Cliffs Natural Resources Inc. fell 8.4 percent. Coal producer Alpha Natural Resources fell 11 percent, the most of any company in the S&P.

Trading varied widely throughout the day. The Dow jumped 126 points minutes after the opening bell on a government report that orders for manufactured goods fell just 0.1 percent in August, a smaller decline than economists predicted.

Those gains were gone within an hour, leaving the Dow, S&P 500 and Nasdaq mixed through the rest of the morning. Stocks started to fall in the afternoon, and the selling intensified in the last half-hour of trading.

The decline followed three days of gains. Stocks rose earlier this week on hopes that Europe was moving closer to resolving its debt problems. The Dow soared 272 points on Monday, its fourth-largest increase this year, and another 147 points on Tuesday.

"The market got ahead of itself," said Joseph Saluzzi, co-head of stock trading at Themis Trading. Investors "assumed some kind of deal would be structured, and that was so far away from happening."

Technology companies fared better than the overall market. Amazon.com shot up 2.5 percent after the online retailer unveiled a new tablet device called the Kindle Fire. It will cost $199 and will rival Apple Inc.'s hugely successful iPad.

Jabil Circuit Inc. rose 8.4 percent, the most of any company in the S&P 500. The electronic parts maker reported strong earnings and a fourth-quarter earnings forecast that was better than analysts had anticipated.


----------



## bigdog

Source: http://finance.yahoo.com

Stock market turns higher after late-day rally; Dow rises 143 points, but tech stock lag 

It was another day of big swings in the stock market.

The Dow Jones industrial average ended with a gain of 143 points Thursday. On its way there, it surged 260 points shortly after the opening bell, then turned mixed for much of the day. A burst of buying in the last half-hour of trading sent the Dow shooting higher again.

Financial stocks had the biggest gains. Traders were relieved that Germany passed a measure to expand the powers of a regional bailout fund. That eased worries that U.S. banks could be buffeted by another bout of turmoil in Europe's financial system. Travelers Cos. Inc. and Bank of America Corp. led the Dow average higher.

Investors struggled to make sense of conflicting reports on the economy. First-time applications for unemployment benefits fell to a five-month low. The government also raised its estimate of economic growth in the April-June period.

Other economic reports were weak. A trade group reported that chief executives of the nation's largest companies are more pessimistic than they were just three months ago. Also, fewer Americans signed contracts to buy homes in August, the second straight month of declines.

All of that contributed to another day of ups and downs on the stock market. The Dow Jones industrial average rose 143.08 points, or 1.3 percent, to close at 11,153.98. Travelers led the Dow with a gain of 3.2 percent; Bank of America was close behind, rising 3.1 percent.

The Standard & Poor's 500 index rose 9.34 points, or 0.8 percent, to 1,160.40. Financial stocks rose 2.8 percent, the most of the 10 company groups that make up the S&P.

*The NYSE DOW NYSE DOW closed  +143.08   points  HIGHER or   +1.30%  on Thursday September  29*
Sym .......Last .......Change..........
Dow 11,153.98 +143.08 +1.30% 
Nasdaq 2,480.76 -10.82 -0.43% 
S&P 500 1,160.40 +9.34 +0.81% 
30-yr Bond 2.9970% -0.0950 

NYSE Volume 5,285,748,500 
Nasdaq Volume 2,334,017,750 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,196.84 -20.79 -0.40% 
DAX 5,639.58 +61.16 +1.10% 
CAC 40 3,027.65 +32.03 +1.07% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,067.90 -29.80 -0.73% 
Shanghai Comp 2,365.34 -26.72 -1.12% 
Taiwan We... 7,182.61 +35.63 +0.50% 
Nikkei 225 8,701.23 +85.58 +0.99% 
Hang Seng 18,011.06 0.00 0.00% 
Straits Times 2,708.13 +6.96 +0.26% 

http://finance.yahoo.com/news/Lateday-rally-sends-stocks-apf-2346480167.html?x=0

*Late-day rally sends stocks higher; Dow rises 143

Stock market turns higher after late-day rally; Dow rises 143 points, but tech stock lag *

Chip Cutter, AP Business Writer, On Thursday September 29, 2011, 5:14 pm 

NEW YORK (AP) -- It was another day of big swings in the stock market.

The Dow Jones industrial average ended with a gain of 143 points Thursday. On its way there, it surged 260 points shortly after the opening bell, then turned mixed for much of the day. A burst of buying in the last half-hour of trading sent the Dow shooting higher again.

Financial stocks had the biggest gains. Traders were relieved that Germany passed a measure to expand the powers of a regional bailout fund. That eased worries that U.S. banks could be buffeted by another bout of turmoil in Europe's financial system. Travelers Cos. Inc. and Bank of America Corp. led the Dow average higher.

Investors struggled to make sense of conflicting reports on the economy. First-time applications for unemployment benefits fell to a five-month low. The government also raised its estimate of economic growth in the April-June period.

Other economic reports were weak. A trade group reported that chief executives of the nation's largest companies are more pessimistic than they were just three months ago. Also, fewer Americans signed contracts to buy homes in August, the second straight month of declines.

All of that contributed to another day of ups and downs on the stock market. The Dow Jones industrial average rose 143.08 points, or 1.3 percent, to close at 11,153.98. Travelers led the Dow with a gain of 3.2 percent; Bank of America was close behind, rising 3.1 percent.

The Standard & Poor's 500 index rose 9.34 points, or 0.8 percent, to 1,160.40. Financial stocks rose 2.8 percent, the most of the 10 company groups that make up the S&P.

Technology companies lagged the rest of the market. The Nasdaq composite index lost 10.82 points, or 0.4 percent, to 2,480.76.

Advanced Micro Devices Inc. plunged 13.7 percent, the most of any stock in the S&P 500, after the company cut its revenue and earnings forecast for the third quarter, saying it was having problems getting its chips made.

Retailers and other consumer discretionary stocks also tanked as investors avoided companies that would be most susceptible to an economic downturn. Netflix Inc. fell 11 percent, Tiffany & Co. fell 6.9 percent and Coach Inc. fell 6.1 percent.

Analysts said financial markets were likely to remain volatile until more questions were resolved about Europe's debt crisis and the U.S. economy. "Until we start to see more clarity on policy intervention, we'll continue to see this intraday, manic market reaction," said James Dailey, chief investment officer of TEAM Financial Managers Inc.

The measure approved by German lawmakers to expand the region's bailout fund must be approved by all 17 countries that use the euro. The plan will allow the bailout fund to buy government debt and lend money to troubled European countries. Finland approved the measure Wednesday.

Analysts cautioned that bank stocks remain vulnerable if Europe stumbles in its efforts to contain its debt crisis. "Investors need to be very careful, because there is still a vast labyrinth of potential challenges that remain to be cleared with regard to Europe," said Frank Barbera, a portfolio co-manager of the Sierra Core Retirement Fund.

About three stocks rose for every one that fell on the New York Stock Exchange. Volume was average at 4.5 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

The worst quarter for the stock market since the financial crisis ended on another down note.

Stocks fell broadly Friday on fresh signs that Europe's debt problems and the U.S. economy continue to languish. Makers of raw materials, industrial companies and banks -- which would have the most to lose if the economy turns sour -- had the biggest losses.

The Dow Jones industrial average dropped 240.60 points, or 2.2 percent, to 10,913.38. Hewlett-Packard Co. fell the most of the 30 stocks in the average, 5.6 percent. Aluminum maker Alcoa Inc. was close behind with a 4.9 percent decline. JPMorgan Chase & Co. fell 4.1 percent.

The broader S&P 500 index shed 28.98, or 2.5 percent, to 1,131.42. All 10 industry groups in the S&P 500 index fell.

The Nasdaq composite index fell 65.36, or 2.6 percent, to 2,415.40.

Markets have been wracked this summer by growing fears about a possible default by Greece and the increasing likelihood of a global recession. Uneven economic data have touched off sudden bouts of buying and selling. The Dow, S&P 500 and Nasdaq each lost more than 12 percent this quarter, the first time that's happened since the financial crisis crested at the end of 2008.

The S&P 500, the benchmark for most U.S. stock mutual funds, has lost 14.3 percent since July 1, the start of the third quarter. That's the biggest quarterly drop since the three months ended Dec. 31, 2008, when global financial markets seized up. Excluding that period, the S&P has not dropped that much in a quarter for nine years. The Dow dropped 1,500.96 points, or 12.1 percent, over the same time frame.

*The NYSE DOW NYSE DOW closed -240.60   points  LOWER or  -2.16%   on Friday September  30*
Sym .......Last .......Change..........
Dow 10,913.38 -240.60 -2.16% 
Nasdaq 2,415.40 -65.36 -2.63% 
S&P 500 1,131.42 -28.98 -2.50% 
30-yr Bond 2.9210% -0.0760 

NYSE Volume 5,401,582,500 
Nasdaq Volume 2,112,975,750 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,128.48 -68.36 -1.32% 
DAX 5,502.02 -137.56 -2.44% 
CAC 40 2,981.96 -45.69 -1.51% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,070.10 +2.20 +0.05% 
Shanghai Comp 2,359.22 -6.12 -0.26% 
Taiwan We... 7,225.38 +42.77 +0.60%
Nikkei 225 8,700.29 -0.94 -0.01% 
Hang Seng 17,592.41 -418.65 -2.32% 
Straits Times 2,675.16 -32.97 -1.22% 

http://finance.yahoo.com/news/Stock...9.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks end gloomy 3rd quarter on a weak note

Stock market closes out its worst quarter since the peak of the financial crisis in fall 2008 *

Daniel Wagner and David K. Randall, AP Business Writers, On Friday September 30, 2011, 5:21 pm 

NEW YORK (AP) -- The worst quarter for the stock market since the financial crisis ended on another down note.

Stocks fell broadly Friday on fresh signs that Europe's debt problems and the U.S. economy continue to languish. Makers of raw materials, industrial companies and banks -- which would have the most to lose if the economy turns sour -- had the biggest losses.

The Dow Jones industrial average dropped 240.60 points, or 2.2 percent, to 10,913.38. Hewlett-Packard Co. fell the most of the 30 stocks in the average, 5.6 percent. Aluminum maker Alcoa Inc. was close behind with a 4.9 percent decline. JPMorgan Chase & Co. fell 4.1 percent.

The broader S&P 500 index shed 28.98, or 2.5 percent, to 1,131.42. All 10 industry groups in the S&P 500 index fell.

The Nasdaq composite index fell 65.36, or 2.6 percent, to 2,415.40.

Markets have been wracked this summer by growing fears about a possible default by Greece and the increasing likelihood of a global recession. Uneven economic data have touched off sudden bouts of buying and selling. The Dow, S&P 500 and Nasdaq each lost more than 12 percent this quarter, the first time that's happened since the financial crisis crested at the end of 2008.

The S&P 500, the benchmark for most U.S. stock mutual funds, has lost 14.3 percent since July 1, the start of the third quarter. That's the biggest quarterly drop since the three months ended Dec. 31, 2008, when global financial markets seized up. Excluding that period, the S&P has not dropped that much in a quarter for nine years. The Dow dropped 1,500.96 points, or 12.1 percent, over the same time frame.

"The market has really seen some damage this quarter," said Mike Hurley, portfolio manager of Highland Trend Following Fund.

The weakness appears to be the start of a longer decline, Hurley said, because bonds are increasing in value and interest rates are low. Traders also are selling commodities such as oil, which would lose value in an economic downturn.

"Lower interest rates and commodity prices are definitely an indication that the market thinks economic activity is going to be weak," Hurley said.

Stocks in France, England and Germany fell on the latest signs of discord among European leaders. Germany and France proposed managing the region's shared currency through meetings of national leaders, rather than by centralized institutions. The head of the European Commission balked at the proposal.

Persistent squabbling over financial policy has been a major obstacle to achieving a lasting solution to Europe's debt crisis. France and Germany, the currency union's strongest economies, want countries to coordinate their spending and borrowing more closely. Other countries see that as a threat to their sovereignty.

Many European leaders and traders believe Greece will default in the coming weeks or months. Greece's lenders and neighbors are preparing as best they can to prevent that from causing a worldwide financial panic.

As a result, traders have reacted strongly to news and rumors out of Europe about how the crisis is being addressed. Markets gyrated wildly this summer in some of the most volatile trading on record. The Dow Jones industrial average swung more than 100 points in more than half of the trading days this quarter.

Traders also have made big moves in response to U.S. economic data, which has mostly suggested a slowdown. A recession in the U.S. looks increasingly likely, mainly because of Europe's struggles and signs of weakness in developing countries like China that have been driving global economic growth.

The government said Friday U.S. consumers spent slightly more in August, but earned less for the first time in nearly two years. That suggests that people are tapping their savings to pay for costlier gasoline and to offset lost wages. The savings rate fell to its lowest level since late 2009.

Micron Technology Inc. plunged 14 percent, the most of any company in the S&P 500 index, after the chipmaker disappointed investors with a quarterly loss. Analysts had expected a profit. Sales were hurt as the company transitions to selling a newer array of memory chips.

Ingersoll-Rand dove 13 percent after cutting its profit forecast for the third and fourth quarters. The machinery maker said North American sales of climate-control and security products have been weaker than expected.

Bank of America Corp lost 3.6 percent after Warren Buffett told Bloomberg Television that the bank's problems will take longer than a year to clean up.

Four stocks fell for every one that rose on the New York Stock Exchange. Volume was above average at 4.7 billion shares.

4546


----------



## Wysiwyg

100 points disappeared rather rapidly at the end there. 
Suspect non farm payroll news this Friday to be better than last time so a rally after bottoming starting sometime this week. 

Over to you BigHound.


----------



## Aussiejeff

Wysiwyg said:


> 100 points disappeared rather rapidly at the end there.
> *Suspect non farm payroll news this Friday to be better than last time so a rally after bottoming starting sometime this week*.
> 
> Over to you BigHound.




I wouldn't bet the farm on it.

Just because the guessing economists "forecast" NF payrollls to be up 59,000 means nada. They forecast similar last time and what happened? A big fat "0" and the markets tanked. I'll go t'other way to balance the argument and instead tip worse than expected employment data and consequent plunge (again) in the DOW. 

Why not. Seems I've got as much chance as those highly paid "learned economists" of being right!


----------



## bigdog

Source: http://finance.yahoo.com

The latest setback in Greece's financial crisis sent the Standard and Poor's 500 index to its lowest level of the year, putting it on the edge of a new bear market.

The index, the benchmark for most U.S. stock funds, has fallen 19.4 percent since its high for the year on April 29. A 20 percent drop would signify the start of a bear market, ending a bull market that began in March 2009. The S&P 500 has gained 76 percent since then, including dividends.

European markets slumped, dragging U.S. stocks down along with them, after Greece said it will miss deficit reduction targets it agreed to as part of its bailout deal. Benchmark indexes in Germany, France and Spain all fell 2 percent.

The Dow Jones industrial average fell 258.08 points, or 2.4 percent, to 10,655.30. The S&P 500 lost 32.19, or 2.9 percent, to 1,099.23. That's below its closing low of 1,119 for the year, reached on Aug. 8.

Indexes measuring smaller stocks fell even more than the Dow and S&P, which are dominated by large companies. The Nasdaq composite slid 79.57, or 3.3 percent, to 2,335.83. The Russell 2000 index of small companies plunged 5.4 percent to 609.49.

All 10 company groups in the S&P index fell. Banks, energy, and consumer discretionary stocks had the steepest declines. The yield on the 10-year Treasury note fell to 1.75 percent from 1.91 percent late Friday as investors piled into lower-risk investments. The yield hit a record low of 1.71 percent on Sept. 22.

"The market is continuing to trade based on what is happening in Europe, and that is going to overshadow everything else," said Quincy Krosby, market strategist at Prudential Financial. "The math (for the Greek bailout) didn't add up a year ago, and the math doesn't add up today. The market knows that and is waiting for the Europeans to acknowledge it."

*The NYSE DOW NYSE DOW closed -258.08   points   LOWER or -2.36%    on Monday October  3*
Sym .......Last .......Change..........
Dow 10,655.30 -258.08 -2.36% 
Nasdaq 2,335.83 -79.57 -3.29% 
S&P 500 1,099.23 -32.19 -2.85% 
30-yr Bond 2.7610% -0.1600 

NYSE Volume 6,781,518,000 
Nasdaq Volume 2,596,056,750 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,075.50 -52.98 -1.03% 
DAX 5,376.70 -125.32 -2.28% 
CAC 40 2,926.83 -55.13 -1.85% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 3,960.70 -109.40 -2.69% 
Shanghai Comp 2,359.22 -6.12 -0.26% 
Taiwan We... 7,013.97 -211.41 -2.93% 
Nikkei 225 8,545.48 -154.81 -1.78% 
Hang Seng 16,822.15 -770.26 -4.38% 
Straits Times 2,621.40 -53.76 -2.01% 

http://finance.yahoo.com/news/Stock...1.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks sink, pushing S&P to edge of bear market

S&P sinks to 2011 low, on edge of another bear market; Europe slides as Greece misses targets *

David K. Randall, AP Business Writer, On Monday October 3, 2011, 4:50 pm EDT 

NEW YORK (AP) -- The latest setback in Greece's financial crisis sent the Standard and Poor's 500 index to its lowest level of the year, putting it on the edge of a new bear market.

The index, the benchmark for most U.S. stock funds, has fallen 19.4 percent since its high for the year on April 29. A 20 percent drop would signify the start of a bear market, ending a bull market that began in March 2009. The S&P 500 has gained 76 percent since then, including dividends.

European markets slumped, dragging U.S. stocks down along with them, after Greece said it will miss deficit reduction targets it agreed to as part of its bailout deal. Benchmark indexes in Germany, France and Spain all fell 2 percent.

The Dow Jones industrial average fell 258.08 points, or 2.4 percent, to 10,655.30. The S&P 500 lost 32.19, or 2.9 percent, to 1,099.23. That's below its closing low of 1,119 for the year, reached on Aug. 8.

Indexes measuring smaller stocks fell even more than the Dow and S&P, which are dominated by large companies. The Nasdaq composite slid 79.57, or 3.3 percent, to 2,335.83. The Russell 2000 index of small companies plunged 5.4 percent to 609.49.

All 10 company groups in the S&P index fell. Banks, energy, and consumer discretionary stocks had the steepest declines. The yield on the 10-year Treasury note fell to 1.75 percent from 1.91 percent late Friday as investors piled into lower-risk investments. The yield hit a record low of 1.71 percent on Sept. 22.

"The market is continuing to trade based on what is happening in Europe, and that is going to overshadow everything else," said Quincy Krosby, market strategist at Prudential Financial. "The math (for the Greek bailout) didn't add up a year ago, and the math doesn't add up today. The market knows that and is waiting for the Europeans to acknowledge it."

The renewed concerns about Europe's debt problems pushed the euro down to $1.32 versus the dollar, a 9-month low. The stronger dollar could hurt large U.S. companies that rely on exports by making their products more expensive overseas. Coca-Cola Co. fell 3.2 percent to $65.42. Caterpillar Inc., which sells construction equipment globally, lost 4.5 percent to $70.55. Boeing, another large exporter, dropped 3.7 percent to $58.25.

"Everything that is coming out of Greece suggests that the dollar is only going to strengthen, which doesn't bode well for the international firms," said J.J. Kinahan, chief options strategist at T.D. Ameritrade. "It's tough to be bullish on anything at the moment."

The Dow briefly turned higher after 10 a.m., when the Institute of Supply Management said its gauge of U.S. manufacturing did better than Wall Street had predicted in September. The Dow and S&P turned mixed within 20 minutes, then took a sharp slide shortly after noon.

The slump started the market off on a weak note for the fourth quarter. Concerns that the U.S. economy is headed for another recession helped send the S&P 500 index, the basis for most mutual funds that invest in U.S. stocks, down 14 percent over the three months that ended in September. It was the worst quarter for the stock market since the financial crisis of 2008.

Some investors are also concerned that Friday's jobs report will show that unemployment rose from 9.1 percent in September. "If I had to bet, I would say it's more likely that more jobs have been lost than a surprise to the upside," said T.D. Ameritrade's Kinahan.

In corporate news, AMR Corp., the parent company of American Airlines, plummeted 33 percent to $1.98 as concerns flared up again that the company could be headed for bankruptcy protection. The stock hadn't closed below $2 since 2003. American is considered the most vulnerable among U.S. carriers to an economic downturn.

Bank of America Corp. plunged 9.6 percent to $5.53, the lowest price for the stock since the financial crisis in 2008. The company has fallen 59 percent since January as investors fret that the nation's largest bank will be hit with more settlements over mortgage securities that lost value after the housing bust.

Yahoo Inc. gained 2.7 percent, to $13.53, after the head of Chinese Internet company Alibaba Group Holdings said he would be interested in buying the company. Yahoo, which recently ousted Carol Bartz as its CEO, has been trying to decide whether to sell parts of the company.

Nine stocks fell for every one that rose on the New York Stock Exchange. Volume was heavy at 5.8 billion shares


----------



## bigdog

Source: http://finance.yahoo.com

A late afternoon surge capped another wild day on Wall Street Tuesday, bringing the S&P 500 back from the brink of entering a bear market. Stocks jumped on reports that European officials were working on a joint effort to prop up the region's struggling banks.

The Dow Jones industrial average closed with a gain of 153, erasing a 200-point deficit in the last 40 minutes of trading. It was down for the whole day before turning positive just 10 minutes before the closing bell.

Indexes opened sharply lower as traders worried that Greece could be edging closer to default. Stocks pared their losses at midday after Federal Reserve Chairman Ben Bernanke told a Congressional panel that the central bank could take more steps to stimulate the economy, then slumped again in the afternoon.

At 3:25 p.m., the market began rising quickly after several news outlets reported that European financial ministers were working on a way to coordinate their efforts to support European banks, as they did during the financial crisis in 2008. Worries that U.S. and European banks could get hammered by a Greek default have been a major concern among investors.

"Right now fear is trumping fundamentals and people are buying on nothing more than rumors," said Mark Lamkin, head of Lamkin Wealth Management. "It's not business risk that the market is concerned with, it's systemic risk. If there truly is a solution to Europe's problems, then we'll set the stage for a nice rally."

The Dow closed with a gain of 153.41, or 1.4 percent, to 10,808.71.

The Standard and Poor's 500 rose 24.72, or 2.2 percent, to 1,123.95. It had been down as many as 24 points in morning trading, 20 percent below its April peak. Had the index closed with a decline that size it would have met the typical definition of a bear market.

The technology-focused Nasdaq composite rose 68.99 points, or 3 percent, to 2,404.82.

*The NYSE DOW NYSE DOW closed  +153.41  points  HIGHER   or  +1.44%   on Tuesday October  4*
Sym .......Last .......Change..........
Dow 10,808.71 +153.41 +1.44% 
Nasdaq 2,404.82 +68.99 +2.95% 
S&P 500 1,123.95 +24.72 +2.25% 
30-yr Bond 2.7610% -0.1600 

NYSE Volume 8,009,638,000 
Nasdaq Volume 3,122,944,750 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 4,944.44 -131.06 -2.58% 
DAX 5,216.71 -159.99 -2.98% 
CAC 40 2,850.55 -76.28 -2.61% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 3,935.60 -25.10 -0.63% 
Shanghai Comp 2,359.22 -6.12 -0.26% 
Taiwan We... 7,047.87 +33.90 +0.48% 
Nikkei 225 8,456.12 -89.36 -1.05% 
Hang Seng 16,250.27 -571.88 -3.40% 
Straits Times 2,531.02 -90.38 -3.45% 

http://finance.yahoo.com/news/Late-...7.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Late surge erases earlier losses on Wall Street

S&P 500 edges back from bear market line, erasing earlier losses in a late afternoon rally *

David K. Randall, AP Business Writer, On Tuesday October 4, 2011, 5:16 pm EDT 

NEW YORK (AP) -- A late afternoon surge capped another wild day on Wall Street Tuesday, bringing the S&P 500 back from the brink of entering a bear market. Stocks jumped on reports that European officials were working on a joint effort to prop up the region's struggling banks.

The Dow Jones industrial average closed with a gain of 153, erasing a 200-point deficit in the last 40 minutes of trading. It was down for the whole day before turning positive just 10 minutes before the closing bell.

Indexes opened sharply lower as traders worried that Greece could be edging closer to default. Stocks pared their losses at midday after Federal Reserve Chairman Ben Bernanke told a Congressional panel that the central bank could take more steps to stimulate the economy, then slumped again in the afternoon.

At 3:25 p.m., the market began rising quickly after several news outlets reported that European financial ministers were working on a way to coordinate their efforts to support European banks, as they did during the financial crisis in 2008. Worries that U.S. and European banks could get hammered by a Greek default have been a major concern among investors.

"Right now fear is trumping fundamentals and people are buying on nothing more than rumors," said Mark Lamkin, head of Lamkin Wealth Management. "It's not business risk that the market is concerned with, it's systemic risk. If there truly is a solution to Europe's problems, then we'll set the stage for a nice rally."

The Dow closed with a gain of 153.41, or 1.4 percent, to 10,808.71.

The Standard and Poor's 500 rose 24.72, or 2.2 percent, to 1,123.95. It had been down as many as 24 points in morning trading, 20 percent below its April peak. Had the index closed with a decline that size it would have met the typical definition of a bear market.

The technology-focused Nasdaq composite rose 68.99 points, or 3 percent, to 2,404.82.

Smaller stocks rose much more than the overall market. The Russell 2000 index of small companies gained 39.15, or 6.4 percent, to 648.64.

Analysts said the bounce in small companies was likely due to steep losses in the index the day before as investors picked up stocks that they considered cheap. The Russell index plunged 5.4 percent Monday.

Markets have been reacting nervously to worries about Europe's debt crisis. European finance ministers suggested at a meeting Tuesday that holders of Greek debt may be required to take larger losses than originally thought, which would hurt banks that hold Greek bonds. Greece has said it wouldn't be able to shrink its deficit enough to comply with commitments it made to international creditors. Investors fear that a default by Greece could cause another freeze-up in global markets.

"Europe is the center point of all of this," said Paul Zemsky, head of asset allocation at ING Investment Management. "The big fear in the market is that company earnings are not sustainable and that Europe's problems are going to spread into the U.S. banking system."

In testimony before Congress, Bernanke said the central bank is ready to take more steps to stimulate the economy. That could mean another round of bond purchases aimed at lowering interest rates and encouraging lending. Bernanke said the economy is weaker than the central bank expected and that poor job growth continues to undercut consumer confidence. .

The yield on the 10-year Treasury note rose to 1.82 percent from 1.78 percent late Monday. It briefly went as low as 1.72 percent around 10 a.m., near its record low of 1.71 percent reached Sept. 22. Bond yields fall when their prices rise.

Analysts said Europe's debt problems overshadowed signs that the U.S. economy continues to grow slowly, including a 10 percent jump in auto sales in September and an increase in a measure of U.S. manufacturing.

"Collectively, the data here in the U.S. hasn't been that bad, but investors are looking at Europe and saying `I don't care what the U.S. fundamentals are when we've got much bigger problems overseas that may eventually wash onto our shores,'" said Phil Orlando, chief stock strategist at Federated Investors.

The S&P index has fallen every month since April on mounting concerns about the strength of the U.S. economy and the possibility that the debt crisis in Europe could get worse. The stock market is thought to be forward-looking, reflecting investors' views of the economy in 6 to 9 months.

In corporate news, Bank of America Corp. jumped 4.2 percent to $5.76. It was down 5 percent to $5.24 before the late market surge as investors continued to be troubled by its exposure to soured mortgages securities and a several-day outage of its website. The company's stock lost 9 percent Monday to $5.53, a level not seen since 2009.

Apple Inc. lost 0.5 percent to $372.50. It had been down 5 percent before the late rally after the company unveiled a faster iPhone that fell short of the radical upgrade that some analysts had predicted.

Two stocks rose for every one that fell on the New York Stock Exchange. Volume was heavy at 6.9 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks rose sharply for a second straight day Wednesday on signs that the U.S. economy grew in September and that European officials are moving to support the region's struggling banks.

The Dow Jones industrial average rose 131 points. Most of the gain, 80 points, came in the last hour of trading.

Analysts attributed the rise to increasing optimism about Europe's efforts to contain its debt crisis and a pair of reports in the U.S. showing a pickup in hiring and growth in service companies last month.

The Financial Times reported late Tuesday that European officials are exploring a joint effort to support the region's banks. That triggered sharp rises in European markets, especially bank stocks.

Investors are worried that European banks could suffer deep losses if Greece starts missing debt payments, which is also known as a default. That could cause the value of Greek bonds held by the banks to drop sharply. If weakened banks pull back from lending to each other, it could cause another freeze in global credit markets, as occurred in late 2008.

The report, which came out after European markets closed Tuesday, triggered a late rally in U.S. stocks that prevented the S&P 500 from closing down 20 percent from its recent peak, reached in April. A fall that far would have met the test of a bear market.

Analysts cautioned that the two-day gain in stocks may not last, given the strains that are still affecting the U.S. economy.

*The NYSE DOW NYSE DOW closed +131.24    points  HIGHER or  +1.21%  on Wednesday October  5*
Sym .......Last .......Change..........
Dow 10,939.95 +131.24 +1.21% 
Nasdaq 2,460.51 +55.69 +2.32% 
S&P 500 1,144.03 +20.08 +1.79% 
30-yr Bond 2.8830% +0.1260 

NYSE Volume 5,903,600,500 
Nasdaq Volume 2,509,392,750 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,102.17 +157.73 +3.19% 
DAX 5,473.03 +256.32 +4.91% 
CAC 40 2,973.90 +123.35 +4.33% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 3,992.50 +56.90 +1.45% 
Shanghai Comp 2,359.22 -6.12 -0.26% 
Taiwan We... 6,989.15 -58.72 -0.83% 
Nikkei 225 8,382.98 -73.14 -0.86% 
Hang Seng 16,250.27 -571.88 -3.40% 
Straits Times 2,528.71 -2.31 -0.09% 

http://finance.yahoo.com/news/Stock...7.html?x=0&sec=topStories&pos=8&asset=&ccode=

*Stocks rise on hopes for European banks

Stocks edge higher on hopes for additional support to European banks*

David K. Randall, AP Business Writer, On Wednesday October 5, 2011, 5:59 pm 

NEW YORK (AP) -- Stocks rose sharply for a second straight day Wednesday on signs that the U.S. economy grew in September and that European officials are moving to support the region's struggling banks.

The Dow Jones industrial average rose 131 points. Most of the gain, 80 points, came in the last hour of trading.

Analysts attributed the rise to increasing optimism about Europe's efforts to contain its debt crisis and a pair of reports in the U.S. showing a pickup in hiring and growth in service companies last month.

The Financial Times reported late Tuesday that European officials are exploring a joint effort to support the region's banks. That triggered sharp rises in European markets, especially bank stocks.

Investors are worried that European banks could suffer deep losses if Greece starts missing debt payments, which is also known as a default. That could cause the value of Greek bonds held by the banks to drop sharply. If weakened banks pull back from lending to each other, it could cause another freeze in global credit markets, as occurred in late 2008.

The report, which came out after European markets closed Tuesday, triggered a late rally in U.S. stocks that prevented the S&P 500 from closing down 20 percent from its recent peak, reached in April. A fall that far would have met the test of a bear market.

Analysts cautioned that the two-day gain in stocks may not last, given the strains that are still affecting the U.S. economy.

"The market is trading on sentiment right now, not fundamentals," said Rob Stein, head of Astor Asset Management. "People are hoping that the bounce yesterday means that we've hit a bottom, but the problems that were in the economy Monday haven't changed since then."

Other traders pointed to meetings by the European Central Bank and the Bank of England Thursday in which officials are expected to discuss additional measures to increase investors' confidence in the European banking system.

"There's a reluctance to (bet that stocks are going to fall) when there's a chance that you'll see an announcement out of Europe to help the banks by the weekend," said Nick Kalivas, vice president of research at MF Global.

The Dow rose 131.21 points, or 1.2 percent, to close at 10,939.95. The Dow jumped 153 Tuesday after its late-day surge.

The Standard & Poor's 500 rose 20.09, or 1.8 percent, to 1,144.04. The Nasdaq composite jumped 55.69, or 2.3 percent, to 2,460.51.

European bank stocks soared, reflecting increasing optimism that European leaders will succeed in limiting the fallout from Greece's debt problems. Credit Agricole jumped 10 percent, and BNP Paribas gained 9 percent.

European markets rose broadly. Germany's DAX jumped 5 percent. Benchmark indexes in France and Italy rose 4 percent.

Reports that the U.S. economy continued to grow in September also sent stock indexes higher. The Institute of Supply Management said its gauge of the U.S. service sector, which employs 90 percent of the work force, grew in line with Wall Street's expectations. The index measures the strength of health care providers, banks, real estate, and other businesses outside of manufacturing. The ISM's index was 53 in September, down slightly from 53.3 in August. Any number above 50 indicates expansion for the sector.

Payroll processor ADP said private companies added 91,000 jobs last month. That was a slight gain from August. ADP's figures do not always predict the outcome of the government's broader report on U.S. employment in September, which will be released Friday. However ADP's report can often influence traders' expectations. Wall Street economists expect that the U.S. unemployment rate will remain unchanged at 9.1 percent.

The latest indications that the U.S. economy was growing, although modestly, pushed Treasury prices lower as investors moved money out of lower-risk investments. The yield on the 10-year Treasury rose to 1.90 percent from 1.82 percent late Tuesday. It hit a record low of 1.71 percent Sept. 22.

Energy and materials companies, whose profits depend on an expanding economy more than other industries, led the stock market higher.

Walt Disney Co. led the 30 stocks that make up the Dow with a 5.5 percent gain after a Citi analyst upgraded the stock, citing a recent pullback. McDonald's Corp. lagged, dipping 0.8 percent.

Monsanto Co. rose 5.2 percent after the seed maker reported results that beat Wall Street's forecasts. Wholesale club operator Costco Wholesale Corp. dropped 1.7 percent after its earnings came in slightly below analysts' expectations. The company said it will raise its annual membership fees in November.

Yahoo jumped 10.1 percent after Reuters reported that Microsoft is considering a bid for the company. BlackBerry maker Research in Motion also jumped 10 percent on speculation that the company may be up for sale.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average rose by more than 100 points for a third straight day Thursday after U.S. retailers reported stronger September sales and the European Central Bank moved to support that region's lenders.

The Dow jumped 183 points, bringing its three-day gain to 434.

In Europe, investors cheered a promise from the European Central Bank to provide unlimited one-year loans to the region's lenders through 2013. The goal is to shield banks from poorly functioning short-term credit markets, in which banks are becoming too worried about their financial stability to lend money to each other. Germany's DAX jumped 3.2 percent, and France's CAC-40 rose 3.4 percent.

The loans are also meant to help protect the banks in the event Greece's government defaults on its debt. If that happens the value of Greek bonds held by those banks would be likely to drop sharply, weakening the banks' balance sheets and making it harder for them to lend.

Target Corp., Nordstrom Inc., Macy's Inc. and other U.S. retailers reported sales that beat Wall Street's expectations. While some of the sales were driven by deep discounts, analysts said the higher sales suggested the U.S. economy was not in another recession.

"The market has been pricing in an out-and-out recession, but the fact that consumer spending is holding up shows that we're more likely to continue muddling through at a 1 to 2 percent growth rate," said Brian Gendreau, market strategist at Cetera Financial Group.

The Dow Jones industrial average jumped 183.38 points, or 1.7 percent, to 11,123.33. It was the first time the Dow rose by more than 100 points for three straight days since a rally that began Aug. 11 and ended with a 763-point gain.

It was the 9th straight day the Dow has swung by more than 100 points, the longest such streak since November 2008, in the middle of the financial crisis. Markets have been extraordinarily volatile as investors react to the latest headlines out of Europe.

*The NYSE DOW NYSE DOW closed  +183.38  points  HIGHER  or +1.68%   on Thursday October  6*
Sym .......Last .......Change..........
Dow 11,123.33 +183.38 +1.68% 
Nasdaq 2,506.82 +46.31 +1.88% 
S&P 500 1,164.97 +20.94 +1.83% 
30-yr Bond 2.9490% +0.0660 

NYSE Volume 5,586,015,500 
Nasdaq Volume 2,226,887,000 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,291.26 +189.09 +3.71% 
DAX 5,645.25 +172.22 +3.15% 
CAC 40 3,075.37 +101.47 +3.41% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,132.10 +139.60 +3.50% 
Shanghai Comp 2,359.22 -6.12 -0.26% 
Taiwan We... 7,132.00 +142.85 +2.04% 
Nikkei 225 8,522.02 +139.04 +1.66% 
Hang Seng 17,172.28 +922.01 +5.67% 
Straits Times 2,603.12 +74.41 +2.94% 

http://finance.yahoo.com/news/Stock...et=&ccode=&sec=topStories&pos=2&asset=&ccode=

*Stocks rise on help for European banks; Dow up 183

Stocks jump for a third straight day after ECB offers new support to banks; retail sales gain *

David K. Randall, AP Business Writer, On Thursday October 6, 2011, 5:15 pm 

NEW YORK (AP) -- The Dow Jones industrial average rose by more than 100 points for a third straight day Thursday after U.S. retailers reported stronger September sales and the European Central Bank moved to support that region's lenders.

The Dow jumped 183 points, bringing its three-day gain to 434.

In Europe, investors cheered a promise from the European Central Bank to provide unlimited one-year loans to the region's lenders through 2013. The goal is to shield banks from poorly functioning short-term credit markets, in which banks are becoming too worried about their financial stability to lend money to each other. Germany's DAX jumped 3.2 percent, and France's CAC-40 rose 3.4 percent.

The loans are also meant to help protect the banks in the event Greece's government defaults on its debt. If that happens the value of Greek bonds held by those banks would be likely to drop sharply, weakening the banks' balance sheets and making it harder for them to lend.

Target Corp., Nordstrom Inc., Macy's Inc. and other U.S. retailers reported sales that beat Wall Street's expectations. While some of the sales were driven by deep discounts, analysts said the higher sales suggested the U.S. economy was not in another recession.

"The market has been pricing in an out-and-out recession, but the fact that consumer spending is holding up shows that we're more likely to continue muddling through at a 1 to 2 percent growth rate," said Brian Gendreau, market strategist at Cetera Financial Group.

The Dow Jones industrial average jumped 183.38 points, or 1.7 percent, to 11,123.33. It was the first time the Dow rose by more than 100 points for three straight days since a rally that began Aug. 11 and ended with a 763-point gain.

It was the 9th straight day the Dow has swung by more than 100 points, the longest such streak since November 2008, in the middle of the financial crisis. Markets have been extraordinarily volatile as investors react to the latest headlines out of Europe.

The S&P 500 rose 20.94, or 1.8 percent, to 1,164.97. The Nasdaq composite rose 46.31, or 1.9 percent, to 2,506.82.

Banks in Europe and the U.S. rallied. U.S. bank stocks rose sharply after Treasury Secretary Timothy Geithner told a Congressional panel that U.S. financial firms had a "very modest" exposure to Europe's debt problems. Bank of America Corp. jumped 8.9 percent to $6.28. Morgan Stanley rose 4.8 percent to $15.18.

The European Central Bank disappointed some investors by announcing that it would keep interest rates unchanged. Analysts were hoping the bank would cut rates to encourage lending and give a boost to Europe's sagging economy.

In the U.S., the Labor Department said the number of new applications for unemployment benefits rose slightly last month to 401,000. While that is a signal that the job market continues to be weak, the increase was slightly less than what Wall Street economists had predicted, a signs that layoffs are easing. Unemployment benefits typically need to fall below 375,000 to signal job growth.

The hopeful signs on the U.S. economy led investors to pull money out of lower-risk assets. That pushed yields higher on U.S. government debt as investors sold Treasurys. The yield on the 10-year Treasury note rose to 1.99 percent from 1.90 percent late Wednesday.

Corning Inc. rose 7.1 percent to $13.50 after it said it would increase its dividend and buy back shares. Apple Inc. lost 0.2 percent to $377.37 in choppy trading after company co-founder and former CEO Steve Jobs died Wednesday. Several analysts and large investors said they believe the company would continue to grow under new CEO Tim Cook.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow is up 1.7 percent for the week. The Nasdaq rose 2.6 percent.

A three-day rally on the stock market faded Friday after a mixed jobs report and credit-rating cuts for Italy and Spain.

The Dow Jones industrial average rose in the morning, turned lower at midday, rallied from 3 to 3:30 but then fell 124 points the last half hour of trading. The latest day of choppy trading left the Dow with a loss of 20 points, following a 468-point surge over the previous three days.

Banks fell more than the broader market as the downgrades of Italy and Spain by the Fitch agency renewed concerns about Europe's debt crisis and the fallout it could have on banks. Bank of America Corp. plunged 6 percent, the most in the Dow. JPMorgan Chase & Co. was close behind, 5.2 percent.

The Dow Jones industrial average dropped 20.21 points, or 0.2 percent, to 11,103.12. Stocks that tend to do well even during economic downturns fared the best. Wal-Mart Stores Inc. led the Dow with a 1.8 percent gain. Drugmaker Pfizer Inc. rose 1.2 percent.

*The NYSE DOW NYSE DOW closed -20.21   points  LOWER or -0.18%   on Friday October  7*
Sym .......Last .......Change..........
Dow 11,103.12 -20.21 -0.18% 
Nasdaq 2,479.35 -27.47 -1.10% 
S&P 500 1,155.46 -9.51 -0.82% 
30-yr Bond 3.0160% +0.0670 

NYSE Volume 5,583,871,000 
Nasdaq Volume 2,112,650,250 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,303.40 +12.14 +0.23% 
DAX 5,675.70 +30.45 +0.54% 
CAC 40 3,095.56 +20.19 +0.66% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,225.00 +92.90 +2.25% 
Taiwan We... 7,211.96 +79.96 +1.12% 
Nikkei 225 8,605.62 +83.60 +0.98% 
Hang Seng 17,707.01 +534.73 +3.11% 
Straits Times 2,640.30 +37.18 +1.43% 

http://finance.yahoo.com/news/Stock...1.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Stocks turn down on mixed jobs, Europe downgrades

Dow edges lower, ending 3-day rally, after mixed jobs report, downgrades of Spain and Italy *

Daniel Wagner and Matthew Craft, AP Business Writers, On Friday October 7, 2011, 6:17 pm 

A three-day rally on the stock market faded Friday after a mixed jobs report and credit-rating cuts for Italy and Spain.

The Dow Jones industrial average rose in the morning, turned lower at midday, rallied from 3 to 3:30 but then fell 124 points the last half hour of trading. The latest day of choppy trading left the Dow with a loss of 20 points, following a 468-point surge over the previous three days.

Banks fell more than the broader market as the downgrades of Italy and Spain by the Fitch agency renewed concerns about Europe's debt crisis and the fallout it could have on banks. Bank of America Corp. plunged 6 percent, the most in the Dow. JPMorgan Chase & Co. was close behind, 5.2 percent.

The Dow Jones industrial average dropped 20.21 points, or 0.2 percent, to 11,103.12. Stocks that tend to do well even during economic downturns fared the best. Wal-Mart Stores Inc. led the Dow with a 1.8 percent gain. Drugmaker Pfizer Inc. rose 1.2 percent.

The Labor Department's closely watched report on unemployment contained mixed news for investors.

U.S. employers added 103,000 jobs last month, about double what economists had expected. The government also said more jobs were added in July and August than previously reported. Economists said the report countered short-term fears that the U.S. might be entering another recession.

Yet it offered few signs that strong growth will return soon. The U.S. unemployment rate remained steady at 9.1 percent for the third straight month. The payroll gains weren't enough to bring the unemployment rate down, or even to keep up with growth in the U.S. population.

Broader indexes and small-company stocks didn't do as well as the large companies that make up the Dow. The Standard & Poor's 500 index fell 9.51 points, or 0.8 percent, to close at 1,155.46. The broader index still gained 2.1 percent for the week, the second week it has made gains out of the previous six.

The Nasdaq composite index fell 27.47, or 1.1 percent, to 2,479.35. The Russell 2000, which tracks smaller companies, plunged 2.6 percent to 656.21.

The Dow is up 1.7 percent for the week. The Nasdaq rose 2.6 percent.

Makers of high-tech lap equipment skidded after Illumina Inc. withdrew its annual earnings forecast, saying demand from government and academic customers had decreased in the slowing economy. Illumina lost a third of its market value. PerkinElmer Inc. plunged 8 percent; Thermo Fisher Inc. lost 6 percent.

Sprint Nextel Inc. plunged 20 percent after the company said it needs to raise money to build out a new high-speed data network. The rose earlier in the day after the company said its new deal to sell Apple Inc.'s iPhone will add to revenue in coming quarters.

Clearwire Corp. plummeted 32 percent after Sprint said it would stop selling phones that work on the company's network at the end of next year. Sprint is building its own high-speed wireless network.

Signs that European officials were taking steps to resolve that region's debt crisis helped drive stocks higher earlier in the week. The European Central Bank promised Thursday to provide unlimited one-year loans to banks through 2013.

The goal is to shield European banks from poorly functioning short-term credit markets. The banks have become increasingly reluctant to lend money to each other, so the new loans from Europe's central bank would make it easier to keep the flow of credit going.

Investors have also worried that if the Greek government defaults on its debt, it would cause the value of Greek bonds held by European and U.S. banks to plunge in value, weakening the banks' balance sheets and making it harder for them to loan money.

"I suspect the market is warming up to the fact that we will get some sort of resolution" to Europe's debt crisis, said Peter Cardillo, chief market economist at Rockwell Global Capital in New York. "But it may not be as quick as I or the market would like."

From Tuesday to Thursday, the S&P 500 jumped more than 1.75 percent three days in a row. That's only happened three times since World War II, according to analysts at the brokerage BTIG. Each three-day rally came after a steep fall. In hindsight, it looks like a signal that the worst was over. The S&P 500 was much higher a year later.

So has the market already bottomed out?

"I think so," Cardillo said. "We've seen the bottom. My thinking is we're in for a good quarter." But if the government of Greece defaults on its debts, he said, "all bets are off."

5224


----------



## bigdog

Source: http://finance.yahoo.com

What bear market?

Stocks surged on the latest positive news out of Europe Monday, the fourth sharp increase in the last five days. It's a dramatic turnaround from last Tuesday, when the S&P 500 index nearly fell enough to meet the definition of a bear market. Since then the widely used index has soared 8.7 percent.

Indexes soared in the U.S. and Europe after French and German leaders promised to strengthen European banks. The Dow Jones industrial average shot up 330 points, its largest one-day jump since Aug. 11. The euro rose against the dollar.

German Chancellor Angela Merkel and French President Nicolas Sarkozy said they would finalize a "comprehensive response" to the debt crisis by the end of the month, including a plan to make sure European banks have adequate capital. Investors have been worried that European leaders weren't moving quickly enough to contain the fallout from a default by Greece's government.

"The more we can put our arms around the problem with a little more detail, the better, and time frames usually help," said Michael Sansoterra, a portfolio manager at Silvant Capital Management in Atlanta.

The Dow rose 330.06 points, or 3 percent, to close at 11,433.18. That's the highest the index has been in three weeks. Bank of America Corp. rose 6.4 percent, the most of the 30 companies that make up the index. JPMorgan Chase & Co. rose 5.2 percent. The Dow is up 7.3 percent since Oct. 4.

The Standard & Poor's 500 index rose 39.43 or 3.4 percent, to 1,194.89. On Oct. 4 the S&P 500 traded below 1,090, or 20 percent down from its recent peak in April. Had the index closed at or below that level, it would have met the common definition of a bear market.

The Nasdaq composite index rose 86.70, or 3.4 percent, to 2,566.05.

European stock markets rose and the euro strengthened against the dollar on the latest indication that European leaders were making progress on containing the region's debt crisis. Germany's DAX rose 3 percent and France's CAC-40 rose 2.1 percent.

*The NYSE DOW NYSE DOW closed  +330.06   points  HIGHER   or  +2.97%  on Monday October  10*
Sym .......Last .......Change..........
Dow 11,433.18 +330.06 +2.97% 
Nasdaq 2,566.05 +86.70 +3.50% 
S&P 500 1,194.89 +39.43 +3.41% 
30-yr Bond 3.0240% +0.0080 

NYSE Volume 4,385,957,500 
Nasdaq Volume 1,607,432,625 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,399.00 +95.60 +1.80% 
DAX 5,847.29 +171.59 +3.02% 
CAC 40 3,161.47 +64.06 +2.07% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,262.30 +37.30 +0.88% 
Shanghai Comp 2,344.79 -14.43 -0.61% 
Taiwan We... 7,211.96 
Nikei 225 8,605.62 +83.60 +0.98% 
Hang Seng 17,711.06 +4.05 +0.02% 
Straits Times 2,668.30 +28.00 +1.06% 

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks soar on European pledge to help banks

Stocks soar after Merkel, Sarkozy vow response to Europe debt crisis; Dow up 330 points *

Chip Cutter and Francesca Levy, AP Business Writers, On Monday October 10, 2011, 5:02 pm 

NEW YORK (AP) -- What bear market?

Stocks surged on the latest positive news out of Europe Monday, the fourth sharp increase in the last five days. It's a dramatic turnaround from last Tuesday, when the S&P 500 index nearly fell enough to meet the definition of a bear market. Since then the widely used index has soared 8.7 percent.

Indexes soared in the U.S. and Europe after French and German leaders promised to strengthen European banks. The Dow Jones industrial average shot up 330 points, its largest one-day jump since Aug. 11. The euro rose against the dollar.

German Chancellor Angela Merkel and French President Nicolas Sarkozy said they would finalize a "comprehensive response" to the debt crisis by the end of the month, including a plan to make sure European banks have adequate capital. Investors have been worried that European leaders weren't moving quickly enough to contain the fallout from a default by Greece's government.

"The more we can put our arms around the problem with a little more detail, the better, and time frames usually help," said Michael Sansoterra, a portfolio manager at Silvant Capital Management in Atlanta.

The Dow rose 330.06 points, or 3 percent, to close at 11,433.18. That's the highest the index has been in three weeks. Bank of America Corp. rose 6.4 percent, the most of the 30 companies that make up the index. JPMorgan Chase & Co. rose 5.2 percent. The Dow is up 7.3 percent since Oct. 4.

The Standard & Poor's 500 index rose 39.43 or 3.4 percent, to 1,194.89. On Oct. 4 the S&P 500 traded below 1,090, or 20 percent down from its recent peak in April. Had the index closed at or below that level, it would have met the common definition of a bear market.

The Nasdaq composite index rose 86.70, or 3.4 percent, to 2,566.05.

European stock markets rose and the euro strengthened against the dollar on the latest indication that European leaders were making progress on containing the region's debt crisis. Germany's DAX rose 3 percent and France's CAC-40 rose 2.1 percent.

Investors were also relieved that troubled Franco-Belgian bank Dexia would be partially nationalized. Dexia needed rescue because owns large amounts of government bonds of indebted countries like Greece and Italy.

European banks have become more reluctant to lend to each other, putting overextended banks like Dexia in danger. That prompted the European Central Bank last week to offer unlimited one-year loans to the banks through 2013 to help give them access to credit.

Investors have been worried that a default by Greece could cause the value of Greek bonds held by those banks to plunge, hurting their balance sheets. U.S. banks could also be affected if Greece goes through a messy default, since they own Greek bonds and also have close ties to European banks.

Apple Inc. rose 5.1 percent to $388.81 after reporting that first-day orders for its new iPhone topped 1 million. The phone goes on sale Friday.

Yahoo Inc. jumped 2.4 percent to $15.84 following reports that founder Jerry Yang may organize a buyout of the company with private equity investors.

Oil and gas driller Nabors Industries Ltd. jumped 6.6 percent after oil rose above $85 a barrel. It hit a 12-month low of $75 a barrel last week.

Alcoa Inc. will become the first major U.S. company to report third-quarter results after the closing bell Tuesday. The aluminum maker's stock rose 3.9 percent to $10.09. Panera Bread rose 4.3 percent to $108.47 after an analyst said the company may start to buy its own stock.

Bond trading was closed for the Columbus Day holiday.

Ten stocks rose for every one that fell on the New York Stock Exchange. Trading volume was light at 3.8 billion.


----------



## bigdog

Source: http://finance.yahoo.com

One of Wall Street's quietest days in months ended mixed after investors spent the day waiting to see if Slovakia would block an expansion of Europe's financial rescue program.

Shortly after U.S. stock markets closed, the Slovakian parliament rejected a bill to strengthen the powers of a regional rescue fund. The sixteen other countries that use the euro have already signed off on the bill, but the measure requires unanimous support.

There are ways around Slovakia's opposition, but the move complicates efforts to address Europe's debt jam, which has been the most important issue for financial markets for months. Investors worry that if Europe doesn't contain its debt crisis, a default by the Greek government could deliver a devastating blow to European banks and cause them to freeze up lending.

The Dow Jones industrial average ended down 18 points after moving between small gains and losses throughout the day. The index traded within a range of only 82 points, the narrowest since July 20. The relatively tepid trading came a day after the Dow surged 330 points, its largest increase since Aug. 11.

"I think markets want to say `who cares about Slovakia,' but the reality is every little country has to agree," said Randy Warren, investment strategist at Exton, Pa.-based firm Warren Financial Service.

Greece has been on the brink of defaulting on its debt for months. If that happens, it would hurt European and U.S. banks by decimating the value of Greek government bonds they own. Those banks would then be less likely to lend to each other and to businesses. That could plug up an already weak global economy, with implications for everything from bank stocks to international trade.

The Dow lost 16.88 points, or 0.1 percent, to close at 11,416.3. The Standard & Poor's 500 index rose 0.65 point, or 0.1 percent, to 1,195.54 The Nasdaq composite rose 16.98, or 0.7 percent, to 2,583.03.

*The NYSE DOW NYSE DOW closed -16.88   points LOWER or -0.15%   on Tuesday October  11*
Sym .......Last .......Change..........
Dow 11,416.30 -16.88 -0.15% 
Nasdaq 2,583.03 +16.98 +0.66% 
S&P 500 1,195.54 +0.65 +0.05% 
30-yr Bond 3.1110% +0.0870 

NYSE Volume 4,317,837,500 
Nasdaq Volume 1,678,601,875 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,395.70 -3.30 -0.06% 
DAX 5,865.01 +17.72 +0.30% 
CAC 40 3,153.52 -7.95 -0.25% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,288.80 +26.50 +0.62% 
Shanghai Comp 2,348.52 +3.73 +0.16% 
Taiwan We... 7,398.71 +186.75 +2.59% 
Nikkei 225 8,773.68 +168.06 +1.95% 
Hang Seng 18,141.59 +430.53 +2.43% 
Straits Times 2,693.50 +25.20 +0.94% 

http://finance.yahoo.com/news/Stocks-mixed-ahead-of-apf-3194674823.html?x=0

*Stocks mixed ahead of Slovakia vote on rescue fund

Indexes end mixed ahead of Slovakia vote on expanding European bailout fund; Alcoa misses *

Francesca Levy and Chip Cutter, AP Business Writers, On Tuesday October 11, 2011, 4:52 pm 

NEW YORK (AP) -- One of Wall Street's quietest days in months ended mixed after investors spent the day waiting to see if Slovakia would block an expansion of Europe's financial rescue program.

Shortly after U.S. stock markets closed, the Slovakian parliament rejected a bill to strengthen the powers of a regional rescue fund. The sixteen other countries that use the euro have already signed off on the bill, but the measure requires unanimous support.

There are ways around Slovakia's opposition, but the move complicates efforts to address Europe's debt jam, which has been the most important issue for financial markets for months. Investors worry that if Europe doesn't contain its debt crisis, a default by the Greek government could deliver a devastating blow to European banks and cause them to freeze up lending.

The Dow Jones industrial average ended down 18 points after moving between small gains and losses throughout the day. The index traded within a range of only 82 points, the narrowest since July 20. The relatively tepid trading came a day after the Dow surged 330 points, its largest increase since Aug. 11.

"I think markets want to say `who cares about Slovakia,' but the reality is every little country has to agree," said Randy Warren, investment strategist at Exton, Pa.-based firm Warren Financial Service.

Greece has been on the brink of defaulting on its debt for months. If that happens, it would hurt European and U.S. banks by decimating the value of Greek government bonds they own. Those banks would then be less likely to lend to each other and to businesses. That could plug up an already weak global economy, with implications for everything from bank stocks to international trade.

The Dow lost 16.88 points, or 0.1 percent, to close at 11,416.3. The Standard & Poor's 500 index rose 0.65 point, or 0.1 percent, to 1,195.54 The Nasdaq composite rose 16.98, or 0.7 percent, to 2,583.03.

Aluminum maker Alcoa Inc. plunged 5.6 percent in after-hours trading after reported that its earnings slumped from the previous quarter, suggesting demand from Europe has slowed.

Markets have been swinging wildly since early August, when Europe's economy suddenly seemed closer to the brink of collapse.

Moves of more than 100 points for the Dow have become commonplace as traders react swiftly to every whiff of news coming out of Europe. The S&P 500 is up 8.8 percent since last Tuesday, when it traded 20 percent below its April peak. Had the S&P closed at that level, it would have put the index into what analysts call a bear market. The index is still down 5.1 percent for the year.

Many market watchers think the volatility will continue until heavily indebted countries like Greece, Spain and Italy have established a clear path out of their current debt mess. Some hope that the summer's heavy selling may have reflected the worst of the market's fears.

"It appears that barring an uncontrolled meltdown, the bottom is in," said Warren.

In corporate news, Dollar Thrifty Automotive Group Inc. fell 2 percent after the car-rental company said it was taking itself off the market after failing to get acceptable takeover proposals from Hertz or other companies.

Discount retailer 99 Cents Only Stores Inc. rose 4.4 percent. Ares Management LLC and the Canada Pension Plan Investment Board have offered to buy the company for $22 per share in cash, a 7 percent premium from Monday's closing price.

Alcoa is the first company in the Dow Jones industrial average to report third-quarter results. Many analysts hope that the upcoming wave of corporate earnings reports will pull investor focus away from Europe and back to the health of U.S. corporations.

Analysts expect earnings from S&P 500 companies to rise about 12 percent from the same period last year, according to data provider FactSet. Revenue is expected to rise 11 percent. Investors are concerned not only with companies' performance over the last quarter but what they expect to earn over the next year. A series of gloomy forecasts could compound fears that the country could enter another recession.


----------



## bigdog

Source: http://finance.yahoo.com

European leaders moved more decisively Wednesday to control the region's debt crisis, and sent stocks sharply higher. The Dow Jones industrial average gained 102 points and closed at its highest level since late August.

The Dow had been up as many as 209 points, but gave up half that gain in the last hour of trading. Late-day reversals have become increasingly common in the market. So have point changes of more than 100 points.

"Unfortunately I think we're stuck with the wild volatility that we've had for some period of time. I don't think we've moved past it," said Dennis Wassung, a portfolio manager at Salem, Mass.-based Cabot Money Management.

The Dow has rallied 8.1 percent since last Tuesday, when it hit its lowest point of the year, 10,362.26. The Standard & Poor's 500 index has risen even more in that time, 9.8 percent. That's the biggest 7-day jump for the S&P since March 2009, when the market hit 12-year lows.

The surge is even more remarkable considering that it came right after the S&P 500 nearly entered a bear market. On Oct. 4, it traded below 1,090, a 20 percent drop from its recent peak in April. Had it closed at or below that level, it would have entered what stock watchers call a bear market.

Much of the surge in stocks since last week was due to new efforts by European leaders to contain the continent's debt problems. On Wednesday, European Commission President Jose-Manuel Barroso presented a plan to strengthen European banks and lower Greece's debt. Greece is still waiting to receive the next installment of its emergency loans. However, there is a growing belief that even those loans won't prevent the government from defaulting on its debt.

*The NYSE DOW NYSE DOW closed  +102.55   points  HIGHER or  +0.90%  on Wednesday October  12*
Sym .......Last .......Change..........
Dow 11,518.85 +102.55 +0.90% 
Nasdaq 2,604.73 +21.70 +0.84% 
S&P 500 1,207.25 +11.71 +0.98% 
30-yr Bond 3.2140% +0.1030 

NYSE Volume 5,406,087,500 
Nasdaq Volume 1,999,906,750 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,441.80 +46.10 +0.85% 
DAX 5,994.47 +129.46 +2.21% 
CAC 40 3,229.76 +76.24 +2.42% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,266.40 -22.40 -0.52% 
Shanghai Comp 2,420.00 +71.48 +3.04% 
Taiwan We... 7,382.35 -16.36 -0.22% 
Nikkei 225 8,738.90 -34.78 -0.40% 
Hang Seng 18,329.46 +187.87 +1.04% 
Straits Times 2,737.75 +44.70 +1.66% 

http://finance.yahoo.com/news/Stocks-rise-on-hopes-for-apf-3960408847.html?x=0

*Stocks rise on hopes for resolution to Europe mess

Stocks close higher as hope builds for a plan to shore up European banks *

Chip Cutter and Francesca Levy, AP Business Writers, On Wednesday October 12, 2011, 5:23 pm 

NEW YORK (AP) -- European leaders moved more decisively Wednesday to control the region's debt crisis, and sent stocks sharply higher. The Dow Jones industrial average gained 102 points and closed at its highest level since late August.

The Dow had been up as many as 209 points, but gave up half that gain in the last hour of trading. Late-day reversals have become increasingly common in the market. So have point changes of more than 100 points.

"Unfortunately I think we're stuck with the wild volatility that we've had for some period of time. I don't think we've moved past it," said Dennis Wassung, a portfolio manager at Salem, Mass.-based Cabot Money Management.

The Dow has rallied 8.1 percent since last Tuesday, when it hit its lowest point of the year, 10,362.26. The Standard & Poor's 500 index has risen even more in that time, 9.8 percent. That's the biggest 7-day jump for the S&P since March 2009, when the market hit 12-year lows.

The surge is even more remarkable considering that it came right after the S&P 500 nearly entered a bear market. On Oct. 4, it traded below 1,090, a 20 percent drop from its recent peak in April. Had it closed at or below that level, it would have entered what stock watchers call a bear market.

Much of the surge in stocks since last week was due to new efforts by European leaders to contain the continent's debt problems. On Wednesday, European Commission President Jose-Manuel Barroso presented a plan to strengthen European banks and lower Greece's debt. Greece is still waiting to receive the next installment of its emergency loans. However, there is a growing belief that even those loans won't prevent the government from defaulting on its debt.

Separately, a Slovakian opposition party leader said that country's political parties have agreed to approve a deal to strengthen Europe's financial rescue program. Slovakia's parliament blocked the deal Tuesday. That set back efforts to free up more funds for indebted European countries and banks.

The Dow rose 102.55 points, or 0.9 percent, to close at 11,518.85. The average is now down just 0.5 percent for the year. The Dow has closed up or down at least 100 points in 11 of the past 13 trading days.

The S&P 500 rose 11.71, or 1 percent, to 1,207.25. The S&P is down 4 percent for 2011.

The Nasdaq composite index rose 21.70, or 0.8 percent, to 2,604.73.

Banks and financial stocks had the biggest gains in the S&P 500. Those companies would have the most to lose if European banks suffer big losses because of a default by the Greek government. A default would cause the value of Greek bonds held by banks in Europe to plunge, weakening their balance sheets and making it harder for them to lend. Their financial problems would likely hurt other banks, including those in the U.S., and could hobble global credit markets.

European leaders are working to shore up those banks so they can withstand the impact.

The euro rose to $1.38 against the U.S. dollar from $1.37 late Tuesday. The euro has fallen in recent months as Europe struggled to control its debt crisis. Treasury prices fell and their yields rose as investors bought riskier assets like stocks instead of U.S. government debt. The yield on the benchmark 10-year note rose to 2.21 percent from 2.16 percent late Tuesday. Demand was slightly weaker than average at an auction of 10-year Treasury notes.

Liz Claiborne Inc. rose 34 percent after the company said it is selling its namesake brand and several others in an attempt to reverse years of losses. Liz Claiborne hasn't had an annual profit since 2006.

U.S. companies have begun to release their third-quarter earnings reports, and so far the results have been mixed. PepsiCo Inc. rose 2.9 percent after the company said its income rose because of stronger sales of snacks and beverages, especially overseas.

Alcoa Inc. dropped 2.4 percent after the aluminum maker reported earnings that were weaker than analysts expected. A 12 percent drop in aluminum prices in the July-September period dragged down its results.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks sank Thursday, ending the fastest rally in the S&P 500 since March 2009.

Bank stocks dragged the market lower after JPMorgan Chase & Co. reported that a slowdown in investment banking hurt its results in the third quarter. An afternoon surge in technology stocks limited some of the losses.

The Dow Jones industrial average fell 40.72 points, or 0.4 percent, to close at 11,478.13. JPMorgan fell 4.8 percent. Other banks also fell. Citigroup Inc. dropped 5.3 percent, Morgan Stanley 4.4 percent and Bank of America Corp. 5.5 percent.

JPMorgan is the first big U.S. bank to report earnings. Next week Wells Fargo & Co., Citigroup Inc. and Morgan Stanley will report. JPMorgan is widely considered the strongest U.S. bank, so the results don't bode well for other financial companies, said Jason Lilly, a portfolio manager at Rockland Trust Investment Management Group. JPMorgan's income fell 4 percent, hurt by a 31 percent plunge in investment banking fees.

An afternoon rally in technology stocks trimmed some of the market's losses. Yahoo Inc. rose 1 percent as investors speculated the company might be bought. Technology stocks in the Standard & Poor's 500 index rose 1 percent, the most of any industry group in the index. The technology-focused Nasdaq composite rose 15.51, or 0.6 percent, to 2,620.24.

*The NYSE DOW NYSE DOW closed  -40.72  points  LOWER or   -0.35%  on Thursday October  13*
Sym .......Last .......Change..........
Dow 11,478.13 -40.72 -0.35% 
Nasdaq 2,620.24 +15.51 +0.60%
S&P 500 1,203.66 -3.59 -0.30% 
30-yr Bond 3.1370% -0.0770 

NYSE Volume 4,436,271,500 
Nasdaq Volume 1,692,392,750 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,403.38 -38.42 -0.71% 
DAX 5,914.84 -79.63 -1.33% 
CAC 40 3,186.94 -42.82 -1.33% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,306.00 +39.60 +0.93% 
Shanghai Comp 2,438.79 +18.79 +0.78% 
Taiwan We... 7,428.33 +45.98 +0.62% 
Nikkei 225 8,823.25 +84.35 +0.97% 
Hang Seng 18,757.81 +428.35 +2.34% 
Straits Times 2,733.97 -3.78 -0.14% 

http://finance.yahoo.com/news/Stock...1.html?x=0&sec=topStories&pos=2&asset=&ccode=

*Stocks slide on JPMorgan; tech rally trims losses

Markets lower after JPMorgan results hit financials; stocks trim losses in afternoon trading *

Francesca Levy and Chip Cutter, AP Business Writers, On Thursday October 13, 2011, 5:35 pm 

NEW YORK (AP) -- Stocks sank Thursday, ending the fastest rally in the S&P 500 since March 2009.

Bank stocks dragged the market lower after JPMorgan Chase & Co. reported that a slowdown in investment banking hurt its results in the third quarter. An afternoon surge in technology stocks limited some of the losses.

The Dow Jones industrial average fell 40.72 points, or 0.4 percent, to close at 11,478.13. JPMorgan fell 4.8 percent. Other banks also fell. Citigroup Inc. dropped 5.3 percent, Morgan Stanley 4.4 percent and Bank of America Corp. 5.5 percent.

JPMorgan is the first big U.S. bank to report earnings. Next week Wells Fargo & Co., Citigroup Inc. and Morgan Stanley will report. JPMorgan is widely considered the strongest U.S. bank, so the results don't bode well for other financial companies, said Jason Lilly, a portfolio manager at Rockland Trust Investment Management Group. JPMorgan's income fell 4 percent, hurt by a 31 percent plunge in investment banking fees.

An afternoon rally in technology stocks trimmed some of the market's losses. Yahoo Inc. rose 1 percent as investors speculated the company might be bought. Technology stocks in the Standard & Poor's 500 index rose 1 percent, the most of any industry group in the index. The technology-focused Nasdaq composite rose 15.51, or 0.6 percent, to 2,620.24.

"There's a mounting interest in Yahoo and that has filtered out into tech stocks," said Quincy Krosby, a market strategist for Prudential Financial.

There was other encouraging news from the technology industry. Apple Inc. rose 1.6 percent a day ahead of the release of its latest iPhone. Google's third-quarter earnings, released after the close of trading, soared past analyst expectations. The stock jumped 5.4 percent in after-hours trading.

The Standard & Poor's 500 index fell 3.59, or 0.3 percent, to 1,203.66. Financial stocks fell 2.4 percent, the most of the 10 company groups that make up the index.

Investors were also disappointed by a report that China's trade surplus narrowed for a second straight month in September. That suggests the Chinese economy is slowing more than previously thought, which could hurt demand for exports from the U.S.

Stocks soared over the past week on signs that Europe was starting to get a handle on its financial crisis. The Standard & Poor's 500 index rose 9.8 from Oct. 3, when it closed at its lowest level of the year, through Wednesday. That was the biggest 7-day jump in the S&P 500 since March 2009.

The sharp highs and lows are typical of the volatility that has plagued markets since August, when investors began reacting to fears that indebted economies in Europe would collapse and the U.S. would slide back into recession. Most analysts think that the market is in for more swings until a resolution to Europe's debt is reached.

"Europe will definitely contribute to more volatility. That story isn't done," said Lilly.

In Europe, there was more progress toward strengthening a financial rescue fund aimed at shoring up the region's banks. Slovakia's parliament approved a measure that would release large amounts of money to European banks and governments before a full-blown crisis sets in. Slovakia had blocked the bill Tuesday, becoming the only one of the 17 countries that use the euro to do so.

Wall Street has been fearful for months that one of Europe's shakier economies could collapse. If countries like Greece, Spain and Italy can't repay their debts, global banks that own those countries' debt would be at risk. That could make banks even more leery of lending to each other and to businesses. If that escalates enough, it could cause another international financial crisis similar to what happened in late 2008.

Officials in Europe seemed like they were making progress toward shoring up European banks. In addition to the stronger bailout package, European Commission leaders had said they would require banks to hold more capital to protect them against losses. But without specifics on how those reforms will be accomplished, traders are getting concerned that the plans will deteriorate.

In corporate news, BlackBerry-maker Research in Motion Ltd. Fell 1.7 percent after a three-day outage that cut off service to users across the world. The company said it had fixed the problem, which resulted from a breakdown in its European infrastructure.

The Blackstone Group LP lost 5.4 percent after a Citi Investment Research analyst dropped the private-equity firm from a list of favorite stocks, saying the firm won't be able to make strong real estate investments for some time because of the weak economy.

Chip-maker Broadcom Corp. rose 2.3 percent after an analyst upgraded the company, saying it was selling more chips for smartphones.


----------



## bigdog

Source: http://finance.yahoo.com

Stronger retail sales and surging profits from Google sent stocks higher Friday. The Dow Jones industrial average turned positive for the year and the S&P 500 index had its best week in more than two years.

Retail sales increased 1.1 percent in September, the biggest gain in seven months and double what economists projected. Retail sales are a key barometer of consumer spending, which helps drive economic growth. It was the latest positive report on the U.S. economy and added to a growing body of evidence that another U.S. recession isn't as likely as many had feared.

"The market's decline was predicated on the collapse of the euro zone and a U.S. recession," said Dan Greenhaus, chief global strategist at the broker BTIG in New York. "Neither seems likely now."

The Dow rose 166.36 points, or 1.4 percent, to close at 11,644.49. The average of 30 large companies has shot up 9.3 percent after hitting 10,655 on Oct. 3, its lowest level of the year.

The Standard & Poor's 500 rose 20.92, or 1.7 percent, to 1,224.58. The index gained 6 percent this week, the best week since July 2009. It was the highest close for the S&P since Aug. 3, when Washington was in paralysis over raising the country's borrowing limit.

The dollar and U.S. Treasury prices fell as investors moved money into assets that perform better when the economy picks up. The yield on the 10-year Treasury note rose to 2.25 percent, the highest level since August.

Oil and other commodities rose sharply. Energy industry stocks jumped. Exxon Mobil Corp. jumped 2.3 percent to $78.11; Chevron Corp. rose 2.7 percent to $100.47.

Stock indexes have reversed a long slide in recent weeks, helped by better news on the U.S. economy and progress in Europe toward resolving that region's debt crisis. Hiring has picked up, although modestly, and manufacturing continued to grow. The Dow soared 330 points Monday after the leaders of France and Germany pledged to come up with a far-reaching solution to the region's debt crisis by the end of October.

*The NYSE DOW NYSE DOW closed  +166.36   points  HIGHER or +1.45%    on Friday October  14*
Sym .......Last .......Change..........
Dow 11,644.49 +166.36 +1.45% 
Nasdaq 2,667.85 +47.61 +1.82% 
S&P 500 1,224.58 +20.92 +1.74% 
30-yr Bond 3.2090% +0.0720 

NYSE Volume 4,116,685,000 
Nasdaq Volume 1,695,276,500 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,466.36 +62.98 +1.17% 
DAX 5,967.20 +52.36 +0.89% 
CAC 40 3,217.89 +30.95 +0.97% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,269.00 -37.00 -0.86% 
Shanghai Comp 2,431.37 -7.42 -0.30% 
Taiwan We... 7,358.08 -70.25 -0.95% 
Nikkei 225 8,747.96 -75.29 -0.85% 
Hang Seng 18,501.79 -256.02 -1.36% 
Straits Times 2,744.17 +10.20 +0.37% 

http://finance.yahoo.com/news/Dow-average-turns-positive-apf-489584959.html?x=0

*Dow average turns positive for 2011; Google soars

Stocks jump after strong retail sales, Google earnings; S&P 500 has its best week since 2009 *

Daniel Wagner and Matthew Craft, AP Business Writers, On Friday October 14, 2011, 5:17 pm 

NEW YORK (AP) -- Stronger retail sales and surging profits from Google sent stocks higher Friday. The Dow Jones industrial average turned positive for the year and the S&P 500 index had its best week in more than two years.

Retail sales increased 1.1 percent in September, the biggest gain in seven months and double what economists projected. Retail sales are a key barometer of consumer spending, which helps drive economic growth. It was the latest positive report on the U.S. economy and added to a growing body of evidence that another U.S. recession isn't as likely as many had feared.

"The market's decline was predicated on the collapse of the euro zone and a U.S. recession," said Dan Greenhaus, chief global strategist at the broker BTIG in New York. "Neither seems likely now."

The Dow rose 166.36 points, or 1.4 percent, to close at 11,644.49. The average of 30 large companies has shot up 9.3 percent after hitting 10,655 on Oct. 3, its lowest level of the year.

The Standard & Poor's 500 rose 20.92, or 1.7 percent, to 1,224.58. The index gained 6 percent this week, the best week since July 2009. It was the highest close for the S&P since Aug. 3, when Washington was in paralysis over raising the country's borrowing limit.

The dollar and U.S. Treasury prices fell as investors moved money into assets that perform better when the economy picks up. The yield on the 10-year Treasury note rose to 2.25 percent, the highest level since August.

Oil and other commodities rose sharply. Energy industry stocks jumped. Exxon Mobil Corp. jumped 2.3 percent to $78.11; Chevron Corp. rose 2.7 percent to $100.47.

Stock indexes have reversed a long slide in recent weeks, helped by better news on the U.S. economy and progress in Europe toward resolving that region's debt crisis. Hiring has picked up, although modestly, and manufacturing continued to grow. The Dow soared 330 points Monday after the leaders of France and Germany pledged to come up with a far-reaching solution to the region's debt crisis by the end of October.

Google Inc. shot up 5.8 percent to $591.68 after its quarterly income jumped 26 percent. Apple Inc. rose 3.3 percent to $422 as its new iPhone went on sale. Record-setting iPhone sales have helped Apple thrive this year even as the economy slowed.

The two tech leaders helped the Nasdaq gain 7.6 percent this week. That's the best week since July 2009. The Nasdaq rose 47.61 points Friday, or 1.8 percent, to 2,667.85.

Navistar International Corp. jumped 7.3 percent to $41.51 on news that the billionaire investor Carl Icahn bought a stake in the maker of military trucks and recreational vehicles.

Retail sales are the government's first look at consumer spending each month. Household spending on everything from clothes to health care accounts for 70 percent of the U.S. economy. If that spending falls sharply, a recession is more likely.

European markets extended an eight-day rally despite an overnight downgrade of Spain by Standard & Poor's and warnings from Fitch about big banks. Food and soap company Unilever PLC announced a major acquisition, and Swiss agrochemicals firm Syngenta reported strong third-quarter sales.

Google reported late Thursday that its third-quarter revenue was one-third higher than last year. It was Google's fourth consecutive quarter of year-over-year revenue growth. Google is doing well because of the reach of its search engine and the effectiveness of its ads.

The government also said Thursday that businesses added to their stockpiles for the 20th consecutive month while sales rose for a third straight month. The increase suggests businesses remained confident enough to keep stocking their shelves.

Five stocks rose for every one that fell on the New York Stock Exchange. Trading volume was below average, 3.7 billion shares.

5843


----------



## bigdog

Source: http://finance.yahoo.com

A week ago, markets were soaring on hopes that a fix for Europe's debt crisis was near. On Monday, stocks had their worst drop in two weeks after German leaders cast doubt on how fast that process would be.

Expectations that a resolution to the crisis could be reached at a European summit in Brussels Oct. 23 helped lift the S&P 500 index to its biggest gain in two years last week. Germany's finance chief Wolfgang Schaeuble said Monday that those expectations were too optimistic.

It was the worst day for U.S. stock indexes since Oct. 3, when each hit a low for the year. The Dow Jones industrial average dropped 247.49 points, or 2.1 percent, to close at 11,397. Alcoa Inc. led the Dow lower with a 6.6 percent decline.

"It's completely a reaction to Germany," said Jason Pride, the director of investment strategy at Glenmede, a wealth management firm in Philadelphia. "The reality is everybody is hanging on to what Europe's doing."

The Standard & Poor's 500 index lost 23.72, or 1.9 percent, to 1,200.86. All 10 industry groups in the S&P 500 were lower. Banks fell the most, 3.3 percent.

*The NYSE DOW NYSE DOW closed -247.49   points LOWER or -2.13%    on Monday October  17*
Sym .......Last .......Change..........
Dow 11,397.00 -247.49 -2.13% 
Nasdaq 2,614.92 -52.93 -1.98% 
S&P 500 1,200.86 -23.72 -1.94% 
30-yr Bond 3.1360% -0.0730 

NYSE Volume 4,296,762,500 
Nasdaq Volume 1,728,379,250 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,436.70 +33.32 +0.62% 
DAX 5,859.43 -107.77 -1.81% 
CAC 40 3,166.06 -51.83 -1.61% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,337.90 +68.90 +1.61% 
Shanghai Comp 2,440.40 +9.03 +0.37% 
Taiwan We... 7,461.12 +103.04 +1.40% 
Nikkei 225 8,879.60 +131.64 +1.50% 
Hang Seng 18,873.99 +372.20 +2.01% 
Straits Times 2,778.97 +34.80 +1.27% 

http://finance.yahoo.com/news/Stocks-slide-as-Germany-cools-apf-2139606591.html?x=0

*Stocks slide as Germany cools hope for debt deal

Stocks slide after Germany quells hopes for a quick resolution to Europe's debt crisis *

David K. Randall and Matthew Craft, AP Business Writers, On Monday October 17, 2011, 5:00 pm 

NEW YORK (AP) -- A week ago, markets were soaring on hopes that a fix for Europe's debt crisis was near. On Monday, stocks had their worst drop in two weeks after German leaders cast doubt on how fast that process would be.

Expectations that a resolution to the crisis could be reached at a European summit in Brussels Oct. 23 helped lift the S&P 500 index to its biggest gain in two years last week. Germany's finance chief Wolfgang Schaeuble said Monday that those expectations were too optimistic.

It was the worst day for U.S. stock indexes since Oct. 3, when each hit a low for the year. The Dow Jones industrial average dropped 247.49 points, or 2.1 percent, to close at 11,397. Alcoa Inc. led the Dow lower with a 6.6 percent decline.

"It's completely a reaction to Germany," said Jason Pride, the director of investment strategy at Glenmede, a wealth management firm in Philadelphia. "The reality is everybody is hanging on to what Europe's doing."

The Standard & Poor's 500 index lost 23.72, or 1.9 percent, to 1,200.86. All 10 industry groups in the S&P 500 were lower. Banks fell the most, 3.3 percent.

A batch of weak corporate earnings reports also pulled stocks lower. Gannett Co. Inc. plunged 8 percent, the most of any stock in the Standard & Poor's 500 index, after the newspaper publisher reported a drop in advertising. Wells Fargo sank 8.4 percent after posting results that fell short of analysts' expectations.

The Nasdaq composite index fell 52.93, or 2 percent, to 2,614.92.

Stock markets around the world rallied last week after the leaders of France and Germany pledged to come up with a far-reaching solution to the region's debt crisis by the end of October. That pledge appeared to be pushed back by German officials Monday. Schaeuble said he expects European leaders to adopt a general framework to tackle the crisis on Sunday. Separately, a spokesman for German Chancellor Angela Merkel said discussions on how to solve Europe's debt problems will likely last into the new year.

Concerns about a messy default by the Greek government have been the main cause behind many of the stock market's big swings lately. The fear is that a default would cause deep losses for European banks that hold Greek bonds. That could lead to a freeze in lending between banks and escalate into another financial crisis similar to the one that occurred in 2008 after the collapse of Lehman Brothers.

Pride said there are other issues to worry about, such as a global economic slowdown and squabbles over U.S. government debt. But Pride believes the European debt debacle is the only one that has the power to undermine the global financial system.

News on the U.S. economy was mixed. A measure of U.S. industrial production rose for a third month, but a gauge of New York area manufacturing fell more than Wall Street expected.

The yield on the 10-year Treasury note fell to 2.16 percent from 2.25 percent late Friday. Yields on bonds fall when demand for them increases and investors become more willing to accept lower returns in exchange for holding assets they consider safe.

In corporate news, Kinder Morgan said late Sunday that it would buy El Paso Corp. for $20.7 billion. The deal would create America's largest natural gas pipeline operator. El Paso jumped 24.8 percent. Kinder Morgan Inc., gained 4.8 percent.

Citigroup Inc. fell 1.6 percent, less than the overall market, after the bank said a decline in loan losses helped it beat Wall Street's profit forecasts. The parent of American Airlines, AMR Corp., sank 6.1 percent on news the company and its pilots failed to reach agreement on a new contract over the weekend.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks rallied Tuesday on reports that Germany and France are moving closer to finding a fix for the European debt crisis.

The Guardian newspaper reported that France and Germany have agreed to expand a rescue fund. European officials are expected to take up the expansion along with a package of other measures at a meeting this weekend.

The Dow Jones industrial average rose 180.05 points, or 1.6 percent, to close at 11,577.05. It was another day of wild swings for the stock market. The Dow dropped as many as 100 points in the morning and soared as many as 255 points within an hour of the closing bell.

"The news out of Europe is taking fears of a 2008 scenario off the table," said Jeffrey Kleintop, chief market strategist at LPL Financial. The worry hanging over markets for months is that a default by a deeply indebted European government could set off a financial crisis similar to the one triggered by the collapse of Lehman Brothers in 2008.

The S&P 500 index rose 24.52 points, or 2 percent, to 1,225.38. The Nasdaq composite rose 42.51 points, or 1.6 percent, to 2,657.43.

The rally came in stark contrast to the previous day's trading. Stocks slumped Monday after the German government played down hopes that Europe's debt crisis would be resolved soon. It was the worst day for the major indexes since Oct. 3, when all three hit their lowest points in 2011.

*The NYSE DOW NYSE DOW closed  +180.05  points  HIGHER or +1.58%   on Tuesday October  18*
Sym .......Last .......Change..........
Dow 11,577.05 +180.05 +1.58% 
Nasdaq 2,657.43 +42.51 +1.63% 
S&P 500 1,225.38 +24.52 +2.04% 
30-yr Bond 3.1570% +0.0210 

NYSE Volume 5,669,232,500 
Nasdaq Volume 1,988,896,750 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,410.35 -26.35 -0.48% 
DAX 5,877.41 +17.98 +0.31% 
CAC 40 3,141.10 -24.96 -0.79% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,249.50 -88.40 -2.04% 
Shanghai Comp 2,383.49 -56.92 -2.33% 
Taiwan We... 7,359.48 -101.64 -1.36% 
Nikkei 225 8,741.91 -137.69 -1.55% 
Hang Seng 18,076.46 -797.53 -4.23% 
Straits Times 2,721.45 -57.52 -2.07% 

http://finance.yahoo.com/news/Stock...7.html?x=0&sec=topStories&pos=8&asset=&ccode=

*Stocks jump on reports of progress in Europe

Stocks rally on reports that France and Germany agree to boost Europe rescue fund *

David K. Randall and Matthew Craft, AP Business Writers, On Tuesday October 18, 2011, 4:57 pm 

NEW YORK (AP) -- Stocks rallied Tuesday on reports that Germany and France are moving closer to finding a fix for the European debt crisis.

The Guardian newspaper reported that France and Germany have agreed to expand a rescue fund. European officials are expected to take up the expansion along with a package of other measures at a meeting this weekend.

The Dow Jones industrial average rose 180.05 points, or 1.6 percent, to close at 11,577.05. It was another day of wild swings for the stock market. The Dow dropped as many as 100 points in the morning and soared as many as 255 points within an hour of the closing bell.

"The news out of Europe is taking fears of a 2008 scenario off the table," said Jeffrey Kleintop, chief market strategist at LPL Financial. The worry hanging over markets for months is that a default by a deeply indebted European government could set off a financial crisis similar to the one triggered by the collapse of Lehman Brothers in 2008.

The S&P 500 index rose 24.52 points, or 2 percent, to 1,225.38. The Nasdaq composite rose 42.51 points, or 1.6 percent, to 2,657.43.

The rally came in stark contrast to the previous day's trading. Stocks slumped Monday after the German government played down hopes that Europe's debt crisis would be resolved soon. It was the worst day for the major indexes since Oct. 3, when all three hit their lowest points in 2011.

Banks and homebuilders also pulled the stock market higher Tuesday. Bank of America Corp. jumped 10.1 percent after it beat earnings expectations for the third quarter thanks to accounting gains and the sale of a stake in a Chinese bank.

Goldman Sachs rose 5.5 percent, even after reporting just its second quarterly loss since going public in 1999.

There was also better news from the housing market, which has rattled banks since the real estate collapse.

A survey of U.S. homebuilders showed they are less pessimistic about the struggling market. The National Association of Home Builders said its index of builder sentiment rose from 14 to 18 this month, the highest level since May 2010. But any reading below 50 reflects overall pessimism.

Building company stocks jumped on the news. D. R. Horton Inc. and PulteGroup Inc. both soared more than 11 percent. Lennar Corp. jumped 9.2 percent.

Markets wavered in early morning trading after some disappointing corporate earnings reports and reports that France and Germany might not reach an agreement on additional support for Greece. An agreement between the two countries is seen as the bedrock for a rescue package that can pass all 17 countries that share the euro.

The ratings agency Moody's also said late Monday that the stable outlook for France's top-notch credit rating is under pressure. On Tuesday, that country's finance minister said that the economy will likely grow a rate of less than 1.5 percent next year. France is Europe's second-largest economy behind Germany.

The Greek government is widely expected to go through some kind of default or restructuring of its debt. If that process becomes disorderly, European banks could suffer big losses on Greek government bonds and that could spread overseas, jolting global credit markets.

Tuesday brought another full day of corporate earnings reports in the U.S. International Business Machines tugged on the Dow average, falling 4.1 percent, the most of any Dow stock by far. IBM reported quarterly revenue that fell short of Wall Street estimates.

UnitedHealth Group Inc. fell 2.7 percent after its third-quarter profit dipped. The country's largest health insurer by sales said medical costs climbed and more patients visited their doctors' office.

Coca-Cola Co. lost half of 1 percent after narrowly beating Wall Street's earnings estimates. Johnson & Johnson rose 1 percent after posting a 6 percent decline in third-quarter profit, roughly in line with analyst expectations.

More than five stocks rose for every one that fell on the New York Stock Exchange. Trading volume was higher than average at 5 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

A rare earnings miss by Apple pulled down technology stocks Wednesday. Broad market indexes turned lower in late afternoon trading on reports of an impasse in talks to resolve Europe's debt crisis.

The leaders of Germany, France, the International Monetary Fund and the European Central Bank met Wednesday in preparation for a summit scheduled for this weekend. Markets sank and the price of oil fell after a report came out that France's President Nicolas Sarkozy said Germany and France were in a deadlock over how to expand an emergency fund.

The Dow closed at 11,504.62, a loss of 72.43 points, or 0.6 percent. On Tuesday the Dow closed half a point below where it started the year.

"The big theme this week is what's going to happen in Europe over the weekend," said Mark Luschini, chief investment strategist at Janney Montgomery Scott. "If a Greece or another country defaults, it could do real damage to Europe. If that pushes Europe into a recession, it will further clip the pace of global growth."

The Dow had traded higher for most of the day but started to slump shortly before 2 p.m., when the report of the impasse came out. Within an hour it was down 88 points.

Citigroup and other banks turned lower. It was the latest in a series of sudden turns for the market. Shifting expectations for the Oct. 23 meeting have rattled markets every day this week.

Apple Inc. slumped 5.6 percent after the company's income and revenue fell short of forecasts. It was a rare miss for the company, which had jumped 31 percent this year through Tuesday. Apple blamed the shortfall on a later-than-usual release of its newest iPhone.

*The NYSE DOW NYSE DOW closed -72.43   points  LOWER or  -0.63%   on Wednesday October  19*
Sym .......Last .......Change..........
Dow 11,504.62 -72.43 -0.63% 
Nasdaq 2,604.04 -53.39 -2.01% 
S&P 500 1,209.88 -15.50 -1.26% 
30-yr Bond 3.1690% +0.0120 

NYSE Volume 4,846,397,500 
Nasdaq Volume 2,005,484,375 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,450.49 +40.14 +0.74% 
DAX 5,913.53 +36.12 +0.61% 
CAC 40 3,157.34 +16.24 +0.52% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,274.80 +25.30 +0.60% 
Shanghai Comp 2,377.51 -5.97 -0.25% 
Taiwan We... 7,353.37 -6.11 -0.08% 
Nikkei 225 8,772.54 +30.63 +0.35% 
Hang Seng 18,309.22 +232.76 +1.29% 
Straits Times 2,720.21 -4.48 -0.16% 

http://finance.yahoo.com/news/Apples-earnings-miss-drags-apf-718415847.html?x=0

*Apple's earnings miss drags tech stocks lower

Rare earnings miss from Apple drags down Nasdaq index; new worries emerge about euro summit *

David K. Randall and Matthew Craft, AP Business Writers, On Wednesday October 19, 2011, 5:00 pm 

NEW YORK (AP) -- A rare earnings miss by Apple pulled down technology stocks Wednesday. Broad market indexes turned lower in late afternoon trading on reports of an impasse in talks to resolve Europe's debt crisis.

The leaders of Germany, France, the International Monetary Fund and the European Central Bank met Wednesday in preparation for a summit scheduled for this weekend. Markets sank and the price of oil fell after a report came out that France's President Nicolas Sarkozy said Germany and France were in a deadlock over how to expand an emergency fund.

The Dow closed at 11,504.62, a loss of 72.43 points, or 0.6 percent. On Tuesday the Dow closed half a point below where it started the year.

"The big theme this week is what's going to happen in Europe over the weekend," said Mark Luschini, chief investment strategist at Janney Montgomery Scott. "If a Greece or another country defaults, it could do real damage to Europe. If that pushes Europe into a recession, it will further clip the pace of global growth."

The Dow had traded higher for most of the day but started to slump shortly before 2 p.m., when the report of the impasse came out. Within an hour it was down 88 points.

Citigroup and other banks turned lower. It was the latest in a series of sudden turns for the market. Shifting expectations for the Oct. 23 meeting have rattled markets every day this week.

Apple Inc. slumped 5.6 percent after the company's income and revenue fell short of forecasts. It was a rare miss for the company, which had jumped 31 percent this year through Tuesday. Apple blamed the shortfall on a later-than-usual release of its newest iPhone.

Apple's results helped drag down technology stocks. The Nasdaq composite slid 53.39, or 2 percent, to 2,604.04. The Standard & Poor's 500 index fell 15.50, or 1.3 percent, to 1,209.88.

Worries that Europe's troubles could get worse have kept markets on edge. The Greek government is widely expected to go through some kind of default or restructuring of its debt. If that process becomes messy, European banks that hold Greek government bonds may find it difficult to raise money from other banks. That, in turn, could trigger a freeze in credit markets and deliver a blow to an already weak European economy.

Stocks slumped Monday after the German government played down hopes that Europe's debt crisis would be resolved soon. They roared back Tuesday on a report that Germany and France had reached an agreement to expand the European rescue fund.

Investors had plenty of corporate news to digest on Wednesday. Abbott Laboratories announced plans to spin off its drug business. Abbott's stock rose 1.5 percent.

Travelers Cos., a major insurer, jumped 5.7 percent after reporting revenue that beat analysts' expectations.

Intel Corp. rose 3.6 percent after its net income beat Wall Street's target.

Large banks that were trading higher dropped in the late afternoon. Morgan Stanley edged up less than 1 percent. The bank said a jump in investment banking revenue helped it earn $1.15 a share, well above analyst expectations of 30 cents per share.

Citigroup Inc. slipped 1.6 percent. The bank agreed to pay $285 million to settle civil fraud charges that it misled buyers of complex mortgage investments just as the housing market was starting to collapse.

BlackRock Inc. dropped 4.7 percent after the money management giant said its assets under management fell 3 percent.

Airlines fell. AMR Corp., the parent of American Airlines, slid 7.5 percent after reporting a loss that was worse than Wall Street analysts predicted. The company said its fuel spending jumped 40 percent, wiping out revenue gains from higher fares and fees. JetBlue Airways Corp. dropped 6.7 percent after the company said its chief financial officer has resigned.


----------



## bigdog

Source: http://finance.yahoo.com

New signs of division among European leaders over how to handle the region's debt crisis led to confusion on financial markets Thursday.

Stock indexes rose, fell, rose back again and then ended the day more or less where they started. As they have been doing for weeks now, traders remain focused on the latest hope for a resolution to Europe's debt crisis: this time, a weekend summit of European leaders.

The Dow Jones industrial average moved between gains and losses all day before ending up 37.16 points, or 0.3 percent, to close at 11,541.78. The Dow had been down as many as 113 points shortly after noon. The Dow is 0.3 percent below where it started the year, and is headed for its first down week after three weeks of gains.

Trading was choppy as talks across the Atlantic appeared to falter because of differences between Germany and France over how to protect European banks from the consequences of a default by the Greek government. Later in the day stocks rose slightly on news that a second summit meeting would take place next week after it became clear that France and Germany would not be able to bridge their difference in time for the meeting Sunday.

A messy default by Greece could lead to deep losses for European banks that hold Greek debt. If that leads them to pull back on lending to each other, it could cause another freeze in global credit markets like the one in late 2008 after Lehman Brothers collapsed.

The Standard & Poor's 500 index rose 5.51 points, or 0.5 percent, to 1,215.39.

The Nasdaq composite lost 5.42 points, or 0.2 percent, to 2,598.62.

*The NYSE DOW NYSE DOW closed    +37.16  points  HIGHER  or +0.32%    on Thursday October  20*
Sym .......Last .......Change..........
Dow 11,541.78 +37.16 +0.32% 
Nasdaq 2,598.62 -5.42 -0.21% 
S&P 500 1,215.39 +5.51 +0.46% 
30-yr Bond 3.2010% +0.0320 

NYSE Volume 4,870,291,500 
Nasdaq Volume 2,094,939,625 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,384.68 -65.81 -1.21% 
DAX 5,766.48 -147.05 -2.49% 
CAC 40 3,084.07 -73.27 -2.32% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,206.80 -68.00 -1.59% 
Shanghai Comp 2,331.37 -46.15 -1.94% 
Taiwan We... 7,244.32 -109.05 -1.48% 
Nikkei 225 8,682.15 -90.39 -1.03% 
Hang Seng 17,983.10 -326.12 -1.78% 
Straits Times 2,697.36 -22.85 -0.84% 

http://finance.yahoo.com/news/Stock...et=&ccode=&sec=topStories&pos=1&asset=&ccode=

*Stocks end mixed as Europe haggles over debt fix

Stocks end little changed as European leaders remain divided over new financial rescue plan *

David K. Randall and Matthew Craft, AP Business Writers, On Thursday October 20, 2011, 5:16 pm 

NEW YORK (AP) -- New signs of division among European leaders over how to handle the region's debt crisis led to confusion on financial markets Thursday.

Stock indexes rose, fell, rose back again and then ended the day more or less where they started. As they have been doing for weeks now, traders remain focused on the latest hope for a resolution to Europe's debt crisis: this time, a weekend summit of European leaders.

The Dow Jones industrial average moved between gains and losses all day before ending up 37.16 points, or 0.3 percent, to close at 11,541.78. The Dow had been down as many as 113 points shortly after noon. The Dow is 0.3 percent below where it started the year, and is headed for its first down week after three weeks of gains.

Trading was choppy as talks across the Atlantic appeared to falter because of differences between Germany and France over how to protect European banks from the consequences of a default by the Greek government. Later in the day stocks rose slightly on news that a second summit meeting would take place next week after it became clear that France and Germany would not be able to bridge their difference in time for the meeting Sunday.

A messy default by Greece could lead to deep losses for European banks that hold Greek debt. If that leads them to pull back on lending to each other, it could cause another freeze in global credit markets like the one in late 2008 after Lehman Brothers collapsed.

The Standard & Poor's 500 index rose 5.51 points, or 0.5 percent, to 1,215.39.

The Nasdaq composite lost 5.42 points, or 0.2 percent, to 2,598.62.

U.S. Treasury prices also fluctuated sharply as the latest news from Europe crossed, before ending about where they were a day earlier. The yield on the 10-year Treasury note was 2.18 percent late Thursday compared with 2.16 percent late Wednesday.

Stock indexes had edged higher in early trading after the Federal Reserve Bank of Philadelphia said regional manufacturing was "showing signs of recovery." Its index of manufacturing, shipments and new orders was far better than economists had forecast. An unexpected drop in the index spurred a stock market sell-off in August.

Other economic reports were mixed. The Labor Department said new applications for unemployment benefits dropped to 403,000 last week, a sign that layoffs are easing. On the down side, sales of previously-occupied homes dipped 3 percent last month.

Among stocks making big moves, Newfield Exploration plunged 14.8 percent, the largest decline in the S&P 500 index. The oil and gas producer reported disappointing third-quarter results and cut its production forecast for the year.

Union Pacific Corp., the country's largest railroad, surged after its earnings came in well ahead of analysts' estimates. The company gained 4 percent after reporting that its income trumped forecasts. It also said it expects the growth to continue.

Southwest Airlines rose 4.5 percent after reporting income that was a penny per share higher than analysts predicted. AT&T Inc. lost 0.3 percent after reporting that the number of new iPhones activated last quarter was the lowest in a year and a half.

The New York Times jumped 9.2 percent after the company reported higher profits than expected.

Casino operator Wynn Resorts Ltd. said that it turned a profit in the third quarter after posting a loss a year ago, but the results still fell short of Wall Street's estimates. Its stock lost 5.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

A broad rally swept through the stock market Friday after McDonald's and several other large companies reported solid earnings. The Standard & Poor's 500 index closed higher for the third straight week, its best run since February, as hope builds that a weekend meeting will bring European leaders closer to easing the region's debt troubles.

The Dow Jones industrial average jumped 267.01 points, or 2.3 percent, to 11,808.79. The Dow is now up 2 percent from where it started 2011. Before Friday's surge, it was down for the year. The Dow has risen for four weeks straight, the first time that has happened since January.

The combination of stronger earnings, better economic news and a sense that European officials were taking the debt crisis more seriously have helped lift stocks, said Phil Orlando, chief equity market strategist at Federated Investors. "It seems like there's a greater sense of urgency to deal with Greece and the sovereign debt trouble in Europe," Orlando said.

McDonald's Corp., Chipotle Mexican Grill Inc. and Harman International Industries Inc. were among the companies that beat analysts' expectations. The quarterly earnings season is off to a strong start. Of the 118 companies that reported earnings so far, 75 percent have beaten estimates, according to financial data provider FactSet.

The encouraging corporate news was in line with recent signs that the U.S. economy strengthened in September after a very weak summer. On Friday the government said unemployment fell last month in half of U.S. states and was unchanged in 11. That's much better than in August, when unemployment rose in 26 states.

Markets have been moving sharply in recent weeks, mainly in reaction to the latest headlines out of Europe on the debt crisis. The Dow had a bigger jump on Oct. 10, 330 points, after the leaders of France and Germany pledged to have a comprehensive solution to the debt crisis in place by the end of the month. The Dow has now gained 10.8 percent since Oct. 3, when it sank to its lowest point of the year.

The S&P 500 gained 22.86 points, or 1.9 percent, to 1,238.25. Rising stocks in the S&P outpaced falling ones by a margin of 20 to 1: only 23 companies traded lower.

The Nasdaq composite index gained 38.84, or 1.5 percent, to 2,637.

*The NYSE DOW NYSE DOW closed   +267.01  points  HIGHER  or +2.31%    on Friday October  21*
Sym .......Last .......Change..........
Dow 11,808.79 +267.01 +2.31% 
Nasdaq 2,637.46 +38.84 +1.49% 
S&P 500 1,238.25 +22.86 +1.88% 
30-yr Bond 3.2520% +0.0510 

NYSE Volume 4,980,771,000 
Nasdaq Volume 2,182,490,000 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,488.65 +103.97 +1.93% 
DAX 5,970.96 +204.48 +3.55% 
CAC 40 3,171.34 +87.27 +2.83% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,203.40 -3.40 -0.08% 
Shanghai Comp 2,317.28 -14.09 -0.60% 
Taiwan We... 7,254.51 +10.19 +0.14% 
Nikkei 225 8,678.89 -3.26 -0.04% 
Hang Seng 18,025.72 +42.62 +0.24% 
Straits Times 2,712.41 +18.40 +0.68%

http://finance.yahoo.com/news/Stock...5.html?x=0&sec=topStories&pos=9&asset=&ccode=

*Stocks rise sharply on solid corporate earnings

US stock indexes rise sharply on solid corporate earnings reports; McDonald's, Chipotle jump *

Daniel Wagner and Matthew Craft, AP Business Writers, On Friday October 21, 2011, 5:03 pm 

A broad rally swept through the stock market Friday after McDonald's and several other large companies reported solid earnings. The Standard & Poor's 500 index closed higher for the third straight week, its best run since February, as hope builds that a weekend meeting will bring European leaders closer to easing the region's debt troubles.

The Dow Jones industrial average jumped 267.01 points, or 2.3 percent, to 11,808.79. The Dow is now up 2 percent from where it started 2011. Before Friday's surge, it was down for the year. The Dow has risen for four weeks straight, the first time that has happened since January.

The combination of stronger earnings, better economic news and a sense that European officials were taking the debt crisis more seriously have helped lift stocks, said Phil Orlando, chief equity market strategist at Federated Investors. "It seems like there's a greater sense of urgency to deal with Greece and the sovereign debt trouble in Europe," Orlando said.

McDonald's Corp., Chipotle Mexican Grill Inc. and Harman International Industries Inc. were among the companies that beat analysts' expectations. The quarterly earnings season is off to a strong start. Of the 118 companies that reported earnings so far, 75 percent have beaten estimates, according to financial data provider FactSet.

The encouraging corporate news was in line with recent signs that the U.S. economy strengthened in September after a very weak summer. On Friday the government said unemployment fell last month in half of U.S. states and was unchanged in 11. That's much better than in August, when unemployment rose in 26 states.

Markets have been moving sharply in recent weeks, mainly in reaction to the latest headlines out of Europe on the debt crisis. The Dow had a bigger jump on Oct. 10, 330 points, after the leaders of France and Germany pledged to have a comprehensive solution to the debt crisis in place by the end of the month. The Dow has now gained 10.8 percent since Oct. 3, when it sank to its lowest point of the year.

The S&P 500 gained 22.86 points, or 1.9 percent, to 1,238.25. Rising stocks in the S&P outpaced falling ones by a margin of 20 to 1: only 23 companies traded lower.

The Nasdaq composite index gained 38.84, or 1.5 percent, to 2,637.

European markets closed sharply higher as investors hoped that European leaders will agree on a package of measures to address the region's debt crisis in time for a summit scheduled for Wednesday. Germany's DAX index rose 3.5 percent. France's CAC 40 and Italy's FTSE MIB rose 2.8 percent.

Traders sold ultra-safe U.S. Treasury debt as riskier assets rose. The yield on the 10-year Treasury note rose to 2.22 percent from 2.18 percent late Thursday. Bond yields rise as demand for them falls and their prices decline.

Stocks were lifted earlier this week by better news about the U.S. economy. A measure of manufacturing in the Philadelphia region grew in October after contracting for two straight months. The number of people claiming unemployment benefits declined last week, and inflation remains low.

Among the companies reporting earnings late Thursday or early Friday:

-- McDonald's Corp. rose 3.7 percent after reporting a 9 percent increase in income. The results beat analysts' expectations and marked McDonalds' ninth straight quarter of gains.

-- Harman International Industries Inc. jumped 20.6 percent, the most in the Standard & Poor's 500, after the audio equipment maker's income trumped expectations.

-- Chipotle Mexican Grill Inc. leaped 8.3 percent after reporting a 25-percent jump in third-quarter income. The fast-casual chain raised prices, sold more burritos and opened new stores.

6609


----------



## bigdog

Source: http://finance.yahoo.com

Stock indexes closed at the highest point since the U.S. debt limit showdown in August Monday. The market was driven higher by a round of big corporate takeovers and reports that Europe's bailout fund will be larger than originally thought. The Nasdaq composite turned positive for the year.

Netflix Inc. plunged 22 percent in after-hours trading after the DVD-by-mail and video streaming company forecast a sharp drop in fourth-quarter profits.

Investors are still waiting for a resolution to Europe's debt problems. European leaders said they made progress at a weekend summit and plan to unveil concrete plans for containing the crisis by Wednesday.

The Dow was up about 40 points in the first hour of trading but moved steadily higher through midday following reports that Europe's takeover fund will be greatly expanded. It finished with a gain of 104.83 points, or 0.9 percent, at 11,913.62.

"The market is expecting that there will be some kind of deal worked out Wednesday," when European financial ministers are scheduled to meet, said Uri Landesman, president of Platinum Partners. "If there's not a deal by then, the market is going down significantly."

Even with concerns about Europe, U.S. companies are still reporting bigger profits. "Although there is a good deal of economic and political uncertainty in the world, we are not seeing it much in our business at this point," Caterpillar Chief Executive Doug Oberhelman said.

The maker of construction equipment reported a 44 percent surge in income, more than Wall Street analysts were expecting, thanks to strong growth in exports. The company said it expected the global economy to continue recovering, albeit slowly. Caterpillar jumped 5 percent, the most of the 30 companies in the Dow.

The Standard & Poor's 500 index rose to 1,254.19. That is just 3.45 points, or 0.3 percent, below where it started the year. It's the highest close for the S&P 500 since Aug. 3, just as Washington was resolving a showdown over raising the country's borrowing limit. If the S&P 500 finishes the year with a gain, it will be its biggest turnaround since 1984.

The Nasdaq composite rose 61.98, or 2.3 percent, to 2,699.44. The gains turned the Nasdaq positive for the year. The S&P 500 is the only major market index that remains lower than where it started the year.

*The NYSE DOW NYSE DOW closed +104.83 points HIGHER or +0.89% on Monday October 24*
Sym .......Last .......Change..........
Dow Jones 11,913.62 +104.83 +0.89% 
Nasdaq 2,699.44 +61.98 +2.35% 
S&P 500 1,254.19 +15.94 +1.29% 
30-Yr Bond 3.2780% +0.0260 

NYSE Volume 4,309,382,000 
Nasdaq Volume 2,009,932,625 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,548.06 +59.41 +1.08% 
DAX 6,055.27 +84.31 +1.41% 
CAC 40 3,220.46 +49.12 +1.55% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 	4,313.60 	+110.20 	+2.62%
Shanghai Comp 	2,370.33 	+53.06 	+2.29%
Taiwan We... 	7,470.30 	+215.79 	+2.97%
Nikkei 225 	8,843.98 	+165.09 	+1.90%
Hang Seng 	18,771.82 	+746.10 	+4.14%
Straits Times 	2,760.95 	+48.54 	+1.79%

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Stocks reach highest level since August

Takeovers, progress on European debt crisis talks sends stocks to highest point since August* 

Stan Choe and David K. Randall, AP Business Writers, On Monday October 24, 2011, 5:09 pm EDT 

NEW YORK (AP) -- Stock indexes closed at the highest point since the U.S. debt limit showdown in August Monday. The market was driven higher by a round of big corporate takeovers and reports that Europe's bailout fund will be larger than originally thought. The Nasdaq composite turned positive for the year.

Netflix Inc. plunged 22 percent in after-hours trading after the DVD-by-mail and video streaming company forecast a sharp drop in fourth-quarter profits.

Investors are still waiting for a resolution to Europe's debt problems. European leaders said they made progress at a weekend summit and plan to unveil concrete plans for containing the crisis by Wednesday.

The Dow was up about 40 points in the first hour of trading but moved steadily higher through midday following reports that Europe's takeover fund will be greatly expanded. It finished with a gain of 104.83 points, or 0.9 percent, at 11,913.62.

"The market is expecting that there will be some kind of deal worked out Wednesday," when European financial ministers are scheduled to meet, said Uri Landesman, president of Platinum Partners. "If there's not a deal by then, the market is going down significantly."

Even with concerns about Europe, U.S. companies are still reporting bigger profits. "Although there is a good deal of economic and political uncertainty in the world, we are not seeing it much in our business at this point," Caterpillar Chief Executive Doug Oberhelman said.

The maker of construction equipment reported a 44 percent surge in income, more than Wall Street analysts were expecting, thanks to strong growth in exports. The company said it expected the global economy to continue recovering, albeit slowly. Caterpillar jumped 5 percent, the most of the 30 companies in the Dow.

The Standard & Poor's 500 index rose to 1,254.19. That is just 3.45 points, or 0.3 percent, below where it started the year. It's the highest close for the S&P 500 since Aug. 3, just as Washington was resolving a showdown over raising the country's borrowing limit. If the S&P 500 finishes the year with a gain, it will be its biggest turnaround since 1984.

The Nasdaq composite rose 61.98, or 2.3 percent, to 2,699.44. The gains turned the Nasdaq positive for the year. The S&P 500 is the only major market index that remains lower than where it started the year.

The Russell 2000 index of small companies rose 3.3 percent as investors moved money into higher-risk assets.

Netflix sank 21.6 percent post-market trading after forecasting fourth-quarter income that was far below what analysts were expecting. Through Monday's close the stock had plunged 59 percent since July 12, when it raised prices and announced a plan to break its DVD-by-mail business into a separate company. The company abandoned the plan after it triggered a revolt among subscribers.

Other major U.S. companies due to report earnings this week include UPS Inc., Ford Motor Co. and Procter & Gamble.

Analysts expect companies in the S&P 500 to report earnings growth of 14 percent for the third quarter, according to data provider FactSet. They expect a 10 percent gain in revenue.

Expenses are also expected to climb. Higher costs for raw materials helped drag down income 8 percent at Kimberly-Clark Corp., which reported results Monday. The stock fell 5 percent. The company is a major consumer products maker whose brands include Huggies and Kleenex.

Higher costs also hurt cigarette maker Lorillard, which reported a 3 percent drop in income. Lorillard's stock fell 0.6 percent.

A series of corporate deals helped lift the market, said Phil Orlando, chief equity strategist at Federated Investors. "This is telling us that companies think stocks are cheap, and they're willing to spend some of the cash that's sitting around on their balance sheets," he said.

Deals announced included:

-- HealthSpring Inc. jumped 34 percent after Cigna Corp. said it will buy the health insurer for about $3.8 billion in cash. Cigna rose 1.4 percent.

-- RightNow Technologies Inc. gained 19 percent after Oracle Corp. said it will buy the tech service company for about $1.5 billion. Oracle rose 2.3 percent.

-- Mattel Inc. rose 2 percent after it agreed to buy Hit Entertainment, the owner of the Thomas & Friends and Barney brands, for $680 million in cash.

-- The J.M. Smucker Co. added 0.7 percent after it bought most of Sara Lee Corp.'s North American foodservice coffee operations for about $350 million.

Five shares rose for every one that fell on the New York Stock Exchange. Volume was average at 4.2 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks closed with steep losses Tuesday after disappointing corporate earnings and reports that a key meeting of European financial ministers had been canceled. Assets that tend to hold their value in a weak economy like U.S. government debt and gold rose.

The Dow Jones industrial average lost 207 points. It had gained 409 points over the previous three days.

Manufacturing conglomerate 3M cut its 2011 earnings forecast, and U.S. Steel warned that demand for its products could slow. Netflix Inc. plunged 35 percent after the company cut its profit forecast and said it is losing subscribers following a price increase in July. After the market closed, Amazon Inc. plunged 17 percent after its earnings came in far below Wall Street's forecasts.

The market was also pulled lower by a report that consumer confidence plunged in October to the lowest level since March 2009. The Conference Board index measures how shoppers feel about business conditions, the job market and their outlook for the next six months.

"It's hard to parse this data and find any way that you can glean something positive about it," said Tim Speiss, vice president at EisnerAmper Wealth Planning.

The Dow fell 207 points, or 1.7 percent, to close at 11,706.62. 3M fell 6.3 percent, the largest drop among the 30 stocks that make up the Dow average.

The Standard & Poor's 500 index fell 25.14, or 2 percent, to 1,229.05. The Nasdaq dropped 61.02, or 2.3 percent, to 2,638.42. The losses turned the Nasdaq negative for the year once again. A rally Monday left the index up 1.8 percent for 2011.

*The NYSE DOW NYSE DOW closed  -207.00  points  LOWER or  -1.74%   on Tuesday October  25*
Sym .......Last .......Change..........
Dow 11,706.62 -207.00 -1.74% 
Nasdaq 2,638.42 -61.02 -2.26% 
S&P 500 1,229.05 -25.14 -2.00% 
30-yr Bond 3.1440% -0.1340 

NYSE Volume 4,473,973,000 
Nasdaq Volume 1,837,603,250 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,525.54 -22.52 -0.41% 
DAX 6,046.75 -8.52 -0.14% 
CAC 40 3,174.29 -46.17 -1.43% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,287.70 -25.90 -0.60% 
Shanghai Comp 2,409.67 +39.34 +1.66% 
Taiwan We... 7,491.21 +20.91 +0.28% 
Nikkei 225 8,762.31 -81.67 -0.92% 
Hang Seng 18,968.20 +196.38 +1.05% 
Straits Times 2,767.95 +7.00 +0.25% 

http://finance.yahoo.com/news/Stocks-fall-as-hopes-for-apf-365325223.html?x=0

*Stocks fall as hopes for Europe debt deal falter

Dow slumps on poor profit reports, Europe; Consumer confidence at lowest level since 2009 *

Stan Choe and David K. Randall, AP Business Writers, On Tuesday October 25, 2011, 4:45 pm EDT 

NEW YORK (AP) -- Stocks closed with steep losses Tuesday after disappointing corporate earnings and reports that a key meeting of European financial ministers had been canceled. Assets that tend to hold their value in a weak economy like U.S. government debt and gold rose.

The Dow Jones industrial average lost 207 points. It had gained 409 points over the previous three days.

Manufacturing conglomerate 3M cut its 2011 earnings forecast, and U.S. Steel warned that demand for its products could slow. Netflix Inc. plunged 35 percent after the company cut its profit forecast and said it is losing subscribers following a price increase in July. After the market closed, Amazon Inc. plunged 17 percent after its earnings came in far below Wall Street's forecasts.

The market was also pulled lower by a report that consumer confidence plunged in October to the lowest level since March 2009. The Conference Board index measures how shoppers feel about business conditions, the job market and their outlook for the next six months.

"It's hard to parse this data and find any way that you can glean something positive about it," said Tim Speiss, vice president at EisnerAmper Wealth Planning.

The Dow fell 207 points, or 1.7 percent, to close at 11,706.62. 3M fell 6.3 percent, the largest drop among the 30 stocks that make up the Dow average.

The Standard & Poor's 500 index fell 25.14, or 2 percent, to 1,229.05. The Nasdaq dropped 61.02, or 2.3 percent, to 2,638.42. The losses turned the Nasdaq negative for the year once again. A rally Monday left the index up 1.8 percent for 2011.

Small company stocks fell far more than the broader market, a sign that investors were shunning assets perceived as being risky. The Russell 2000, an index of small companies, plunged 3 percent, reversing a gain of 3.3 percent Monday.

Prices for assets seen as stable stores of value rose. The yield on 10-year Treasury notes fell to 2.14 percent from 2.23 percent late Monday. Bond yields fall when investors send their prices higher. Gold rose 2.9 percent.

The latest headlines from Europe cast doubt over whether leaders there can agree on a comprehensive solution for the region's debt crisis in time for a summit Wednesday. Europe's ongoing debt crisis has been behind much of the market's big moves lately.

European officials are working to patch together a plan that will prevent banks from taking huge losses if the Greek government defaults on its bonds. A messy default could lead to a credit freeze-up similar to the one in 2008 following the fall of Lehman Brothers.

Anticipation of a solution to Europe's debt mess and strong profit reports from Caterpillar Inc., McDonald's Inc. and other major U.S. companies helped the S&P 500 surge 14.1 percent from Oct. 3, when it slumped to its lowest point of the year, through Monday's close. Traders warn that if European leaders fail to come up with a credible solution it could sent markets sharply lower.

United States Steel Corp. dropped 9.6 percent after the nation's largest steelmaker warned that demand for some of its products could decline in the final three months of the year if the economy slows down more.

Delta Air Lines Inc. slumped 5.2 percent after the airline reported results that missed Wall Street's expectations. Delta cut its flights 1 percent in the most recent quarter and said it would cut as much as another 5 percent during the last three months of this year.

United Parcel Service fell 2.1 percent after the company said its growth in Asia was slowing. First Solar Inc. plunged 25 percent after the company said its chief executive had stepped down.

Five stocks fell for every one that rose on the New York Stock Exchange. Volume was average at 4.3 billion shares.


----------



## bigdog

*Source: http://finance.yahoo.com

Stock indexes finished higher Wednesday following reports that China will come to the aid of Europe by investing in a financial rescue fund.

Agence France-Presse reported that China has agreed to invest in Europe's financial rescue fund, which will be used to support struggling countries and banks in the European Union. The Dow Jones industrial average jumped more than 100 points after the report came out in the early afternoon.

Stocks had been mixed for much of the day as investors weighed stronger earnings from Boeing and Corning with uncertainty about the outcome of a key meeting among European leaders.

Top European officials met in Brussels to discuss how to contain the region's debt crisis, which has festered for two years. One consideration is increasing the power of a financial rescue fund, which Germany's parliament approved shortly before U.S. stock markets opened.

European officials announced a plan after the U.S. market closed that will require the region's banks to increase their levels of cash to better protect themselves from losses on the Greek bonds they hold. European governments have been pressing the banks to forgive significant amounts of the Greek government's debt.

"This is a total news and rumor-driven market right now, and everyone's attention is focused on Europe," said Joe Bell, an analyst at Schaeffer's Investment Research.

The Dow Jones industrial average gained 162.42 points, or 1.4 percent, to 11,869.04. Boeing Co. led the way. It rose 4.5 percent after it reported a bigger profit for its latest quarter than analysts expected. It also raised its forecast for 2011 earnings.

The S&P 500 index rose 12.95, or 1.1 percent, to 1,242. The Nasdaq composite added 12.25, or 0.5 percent, to 2,650.67. Amazon.com Inc. slumped 12.7 percent after reporting a 73 percent drop in income. The retailer cited higher costs for expansion.

The NYSE DOW NYSE DOW closed +162.42 points HIGHER or +1.39% on Wednesday October 26
Sym .......Last .......Change..........
Dow	11,869.04	+162.42	+1.39%
Nasdaq	2,650.67	+12.25	+0.46%
S&P 500	1,242.00	+12.95	+1.05%
30-yr Bond	3.2240%	+0.0800

NYSE Volume	4,801,191,000
Nasdaq Volume	2,152,965,000

Europe
Symbol... ......Last .....Change.......
FTSE 100	5,553.24	+27.70	+0.50%
DAX	6,016.07	-30.68	-0.51%
CAC 40	3,169.62	-4.67	-0.15%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord	4,300.80	+13.10	+0.31%
Shanghai Comp	2,427.48	+17.81	+0.74%
Taiwan We...	7,535.82	+44.61	+0.60%
Nikkei 225	8,748.47	-13.84	-0.16%
Hang Seng	19,066.54	+98.34	+0.52%
Straits Times	2,769.94	0.00	0.00%

http://finance.yahoo.com/news/Stock...1.html?x=0&sec=topStories&pos=1&asset=&ccode=

Stocks end higher on reports of help for Europe

Stocks turn positive in afternoon trading after reports that China will buy European bonds 

Stan Choe and David K. Randall, AP Business Writers, On Wednesday October 26, 2011, 4:36 pm

NEW YORK (AP) -- Stock indexes finished higher Wednesday following reports that China will come to the aid of Europe by investing in a financial rescue fund.

Agence France-Presse reported that China has agreed to invest in Europe's financial rescue fund, which will be used to support struggling countries and banks in the European Union. The Dow Jones industrial average jumped more than 100 points after the report came out in the early afternoon.

Stocks had been mixed for much of the day as investors weighed stronger earnings from Boeing and Corning with uncertainty about the outcome of a key meeting among European leaders.

Top European officials met in Brussels to discuss how to contain the region's debt crisis, which has festered for two years. One consideration is increasing the power of a financial rescue fund, which Germany's parliament approved shortly before U.S. stock markets opened.

European officials announced a plan after the U.S. market closed that will require the region's banks to increase their levels of cash to better protect themselves from losses on the Greek bonds they hold. European governments have been pressing the banks to forgive significant amounts of the Greek government's debt.

"This is a total news and rumor-driven market right now, and everyone's attention is focused on Europe," said Joe Bell, an analyst at Schaeffer's Investment Research.

The Dow Jones industrial average gained 162.42 points, or 1.4 percent, to 11,869.04. Boeing Co. led the way. It rose 4.5 percent after it reported a bigger profit for its latest quarter than analysts expected. It also raised its forecast for 2011 earnings.

The S&P 500 index rose 12.95, or 1.1 percent, to 1,242. The Nasdaq composite added 12.25, or 0.5 percent, to 2,650.67. Amazon.com Inc. slumped 12.7 percent after reporting a 73 percent drop in income. The retailer cited higher costs for expansion.

Strong economic reports also helped send stocks higher. Businesses ordered more heavy machinery and other long-lasting manufactured goods last month, after excluding aircraft orders, which can be volatile. That indicates businesses are still spending on equipment despite worries about a weak economy and Europe's debt problems. Sales of new homes rose in September after falling for four straight months. Lower home prices enticed buyers.

The yield on the 10-year Treasury note rose to 2.21 percent from 2.14 percent late Tuesday as demand diminished for assets perceived to be relatively safe.

Corning Inc. rose 3 percent after reporting a 3 percent increase in income last quarter on stronger sales of glass for flat-panel televisions. Its earnings and revenue beat analysts' expectations.

First Solar Inc. rose 6.6 percent. It reported results a week earlier than expected, and revenue and earnings both improved. That helped the stock recover some of its losses from Tuesday, when it fell 24 percent after the surprise departure of the company's chief executive.

Five stocks rose for every one that fell on the New York Stock Exchange. Volume was slightly above average at 4.8 billion shares.*


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average surged nearly 340 points Thursday after European leaders agreed on a deal to slash Greece's debt load and prevent the crisis there from engulfing larger countries like Italy. The Standard & Poor's 500 index is close to having its best month since 1974.

Commodities and Treasury yields soared as investors took on more risk. The euro rose sharply against the dollar.

Europe's sweeping agreement, reached after an all-night summit meeting, is aimed at preventing the Greek government's inability to pay its debt from escalating into another financial crisis like the one that happened in September 2008 after the collapse of Lehman Brothers.

Banks agreed to take 50 percent losses on the Greek bonds they hold. Europe will also strengthen a financial rescue fund to protect the region's banks and other struggling European countries such as Italy and Portugal.

"This seems to set aside the worries that there would be a massive contagion over there that would have brought everything down with it," said Mark Lamkin, head of Lamkin Wealth Management.

Stronger U.S. economic growth and corporate earnings also drove markets higher. The government reported Thursday that the economy grew at a 2.5 percent annual rate from July through September on stronger consumer spending and business investment. That was nearly double the 1.3 percent growth in the previous quarter.

The Dow Jones industrial average soared 339.51 points, or 2.9 percent, to 12,208.55. All 30 stocks in the Dow rose, led by Bank of America Corp. with a 9.6 percent gain. It was the first time the Dow closed above 12,000 since Aug. 1

The Dow is up 11.9 percent for the month so far. With only two full days of trading left in October, the Dow could have its biggest monthly gain since January 1987. The Dow's jump was its largest since Aug. 11th, when it rose 423.

The S&P 500 rose 42.59, or 3.7 percent, to 1,284.59. The gain turned the S&P positive for the year for the first time since Aug. 3, just before the U.S. government's debt was downgraded. The index is up 13.5 percent for the month, its best performance since a 16.3 percent gain in October 1974.

The Dow and S&P have both fallen for the previous five months.

The Nasdaq composite jumped 87.96, or 3.3 percent, to 2,738.63.

*The NYSE DOW NYSE DOW closed  +339.51  points  HIGHER or  +2.86%   on Thurssday October  27*
Sym .......Last .......Change..........
Dow 12,208.55 +339.51 +2.86% 
Nasdaq 2,738.63 +87.96 +3.32% 
S&P 500 1,284.59 +42.59 +3.43% 
30-yr Bond 3.4460% +0.2220 

NYSE Volume 6,600,588,000 
Nasdaq Volume 2,851,743,250 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,713.82 +160.58 +2.89% 
DAX 6,337.84 +321.77 +5.35% 
CAC 40 3,368.62 +199.00 +6.28% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,403.90 +103.10 +2.40% 
Shanghai Comp 2,435.61 +8.13 +0.34% 
Taiwan We... 7,565.21 +29.39 +0.39% 
Nikkei 225 8,926.54 +178.07 +2.04% 
Hang Seng 19,688.70 +622.16 +3.26% 
Straits Times 2,847.57 +77.63 +2.80% 

http://au.finance.yahoo.com/news/Stocks-surge-on-European-debt-apf-2182810507.html?x=0

*Stocks surge on European debt deal; Dow gains 339

European debt deal, stronger US growth send stocks soaring; Dow average leaps 339 points *

Stan Choe and David K. Randall, AP Business Writers, On Friday 28 October 2011, 7:25 

NEW YORK (AP) -- The Dow Jones industrial average surged nearly 340 points Thursday after European leaders agreed on a deal to slash Greece's debt load and prevent the crisis there from engulfing larger countries like Italy. The Standard & Poor's 500 index is close to having its best month since 1974.

Commodities and Treasury yields soared as investors took on more risk. The euro rose sharply against the dollar.

Europe's sweeping agreement, reached after an all-night summit meeting, is aimed at preventing the Greek government's inability to pay its debt from escalating into another financial crisis like the one that happened in September 2008 after the collapse of Lehman Brothers.

Banks agreed to take 50 percent losses on the Greek bonds they hold. Europe will also strengthen a financial rescue fund to protect the region's banks and other struggling European countries such as Italy and Portugal.

"This seems to set aside the worries that there would be a massive contagion over there that would have brought everything down with it," said Mark Lamkin, head of Lamkin Wealth Management.

Stronger U.S. economic growth and corporate earnings also drove markets higher. The government reported Thursday that the economy grew at a 2.5 percent annual rate from July through September on stronger consumer spending and business investment. That was nearly double the 1.3 percent growth in the previous quarter.

The Dow Jones industrial average soared 339.51 points, or 2.9 percent, to 12,208.55. All 30 stocks in the Dow rose, led by Bank of America Corp. with a 9.6 percent gain. It was the first time the Dow closed above 12,000 since Aug. 1

The Dow is up 11.9 percent for the month so far. With only two full days of trading left in October, the Dow could have its biggest monthly gain since January 1987. The Dow's jump was its largest since Aug. 11th, when it rose 423.

The S&P 500 rose 42.59, or 3.7 percent, to 1,284.59. The gain turned the S&P positive for the year for the first time since Aug. 3, just before the U.S. government's debt was downgraded. The index is up 13.5 percent for the month, its best performance since a 16.3 percent gain in October 1974.

The Dow and S&P have both fallen for the previous five months.

The Nasdaq composite jumped 87.96, or 3.3 percent, to 2,738.63.

Small company stocks rose more than the broader market. That's a sign investors were more comfortable holding assets perceived as being risky but also more likely to appreciate in a strong economy. The Russell 2000 index jumped 5.3 percent.

Raw materials producers, banks and stocks in other industries that depend on a strong economy for profit growth led the way. Copper jumped 5.8 percent to $3.69 a pound and crude oil jumped 4.2 percent to $93.96 a barrel.

The euro rose sharply, to $1.42, as confidence in Europe's financial system grew. The euro was worth $1.39 late Wednesday and had been as low as $1.32 on Oct. 3. European stock indexes also soared. France's CAC-40 rose 6.3 percent and Germany's DAX jumped 6.1 percent.

Investors sold U.S. Treasury notes and bonds, an indication they were moving away from safer investments. The yield on the 10-year Treasury note, which moves in the opposite direction of its price, rose to 2.38 percent from 2.21 percent late Wednesday.

European leaders still have to finalize the details of their latest plan. French President Nicolas Sarkozy spoke with Chinese President Hu Jintao amid hopes that countries with lots of cash like China can contribute to the European rescue.

Past attempts to contain Europe's two-year debt crisis have proved insufficient. Greece has been surviving on rescue loans since May 2010. In July, creditors agreed to take some losses on their Greek bonds, but that wasn't enough to fix the problem.

Some analysts cautioned that Europe's problems remained unsolved. "The market keeps on thinking that it's put Europe's problems to bed, but it's like putting a three-year old to bed: you might put it there but it won't stay there," said David Kelley, chief market strategist at J.P. Morgan Funds. Kelly said that Europe's debt problems will remain an issue until the economies of struggling nations like Greece and Portugal grow again.

Worries about Europe's debt crisis and a weak U.S. economy dragged the S&P 500 down 19.4 percent between April 29 and Oct. 3. That put it on the cusp of what's called a bear market, which is a 20 percent decline.

Since then, there have been a number of more encouraging signs on the U.S. economy. Despite the jitters over Europe, many large U.S. companies have been reporting strong profit growth in the third quarter.

Dow Chemical rose 8.2 percent after its profit last quarter rose 59 percent on strong sales growth from Latin America. Occidental Petroleum Corp. jumped 9.7 percent after reporting a 50 percent surge in income.

Citrix Systems Inc. rose 17.3 percent. The technology company's revenue rose 20 percent last quarter, and it forecast growth of up to 13 percent for 2012. Akamai Technologies Inc., whose products help speed the delivery of online content, jumped 15.4 percent after the company reported earnings that beat analysts' expectations.

Avon Products Inc. fell 18 percent, the most in the S&P 500, after the company said the Securities and Exchange Commission is investigating its contacts with financial analysts and Avon's own probe into bribery in China and other countries.

Nine stocks rose for every one that fell on the New York Stock Exchange. Volume was heavy at 6.5 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

A quiet day on Wall Street ended Friday with major stock indexes little changed after a big rally the day before. The Dow Jones industrial average closed out its fifth week of gains, its longest winning streak since January.

The Dow edged up 23 points, or 0.2 percent, to finish at 12,231.11. Stock indexes jumped more than 3 percent Thursday after European leaders unveiled a plan to expand their regional bailout fund and take other steps to contain the debt crisis in Greece.

Optimism ebbed on Friday as analysts raised questions about the plan, which left out many key details about how the fund would work. European markets mostly fell, and the euro declined against the dollar.

"It's a kind of sobering-up after a day of partying," said Jerry Webman, chief economist with Oppenheimer Funds in New York. "We got back to what's more of a square position, closer to where we want to be, and now we're going to take a couple of deep breaths and reassess what this really means."

There are still plenty of obstacles to overcome before the crisis is resolved. One troubling sign: Borrowing costs for Italy and Spain increased, signaling that traders remain worried about their finances.

The S&P 500 rose less than a point to 1,285.09. The Nasdaq composite fell 1.48, or 0.1 percent, to 2,737.15.

In less than four weeks, the Dow has risen 14.8 percent from its 2011 low, reached on Oct. 3. The S&P has gained 17 percent. However, the Dow remains 4.5 percent below this year's high, reached on April 29. The S&P is 5.8 percent below its high.

The Dow surged 3.6 percent for the week; the S&P and Nasdaq each gained 3.8 percent. Both indexes are on pace to have their best month since January 1987.

*The NYSE DOW NYSE DOW closed +22.56   points  HIGHER or +0.18%   on Friday October  28*
Sym .......Last .......Change..........
Dow 12,231.11 +22.56 +0.18% 
Nasdaq 2,737.15 -1.48 -0.05% 
S&P 500 1,285.09 +0.50 +0.04% 
30-yr Bond 3.3520% -0.0940 

NYSE Volume 4,575,286,000 
Nasdaq Volume 1,868,976,875 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,702.24 -11.58 -0.20% 
DAX 6,346.19 +8.35 +0.13% 
CAC 40 3,348.63 -19.99 -0.59% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,411.40 +7.50 +0.17% 
Shanghai Comp 2,473.41 +37.80 +1.55% 
Taiwan We... 7,616.06 +50.85 +0.67% 
Nikkei 225 9,050.47 +123.93 +1.39% 
Hang Seng 20,019.24 +330.54 +1.68% 
Straits Times 2,905.72 +58.15 +2.04% 

http://finance.yahoo.com/news/Stock...3.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks finish mixed after Thursday's big rally

Stocks end mixed as traders turn a skeptical eye to Europe's plan to contain its debt crisis* 

Daniel Wagner and David K. Randall, AP Business Writers, On Friday October 28, 2011, 5:32 pm 

A quiet day on Wall Street ended Friday with major stock indexes little changed after a big rally the day before. The Dow Jones industrial average closed out its fifth week of gains, its longest winning streak since January.

The Dow edged up 23 points, or 0.2 percent, to finish at 12,231.11. Stock indexes jumped more than 3 percent Thursday after European leaders unveiled a plan to expand their regional bailout fund and take other steps to contain the debt crisis in Greece.

Optimism ebbed on Friday as analysts raised questions about the plan, which left out many key details about how the fund would work. European markets mostly fell, and the euro declined against the dollar.

"It's a kind of sobering-up after a day of partying," said Jerry Webman, chief economist with Oppenheimer Funds in New York. "We got back to what's more of a square position, closer to where we want to be, and now we're going to take a couple of deep breaths and reassess what this really means."

There are still plenty of obstacles to overcome before the crisis is resolved. One troubling sign: Borrowing costs for Italy and Spain increased, signaling that traders remain worried about their finances.

The S&P 500 rose less than a point to 1,285.09. The Nasdaq composite fell 1.48, or 0.1 percent, to 2,737.15.

In less than four weeks, the Dow has risen 14.8 percent from its 2011 low, reached on Oct. 3. The S&P has gained 17 percent. However, the Dow remains 4.5 percent below this year's high, reached on April 29. The S&P is 5.8 percent below its high.

The Dow surged 3.6 percent for the week; the S&P and Nasdaq each gained 3.8 percent. Both indexes are on pace to have their best month since January 1987.

Whirlpool Corp. slumped 14 percent, the most in the S&P index, after the appliance maker said it would cut 5,000 jobs, citing weak demand and higher costs for materials. Another household name, Newell Rubbermaid Inc., soared 11 percent after its adjusted earnings beat Wall Street's expectations. The maker of tubs and markers maintained its outlook for the year.

Cablevision Systems Corp. fell 12.5 percent after reporting that its third-quarter net income dropped sharply and it lost cable TV subscribers. Hewlett-Packard Co. rose 3.5 percent after the company said it would shelve its plan to spin off its PC business.

Thursday's stock rally led to a sell-off in Treasurys, which traders hold to protect their money when other investments are falling. Demand for Treasurys increased sharply Friday, pushing the yield on the 10-year Treasury down to 2.33 percent from 2.39 percent late Thursday.

Markets have been roiled for months by fears about the impact of Europe's debt crisis. Greece couldn't afford to repay its lenders, and banks holding Greek bonds faced billions in losses. A disorganized default by Greece threatened to spook lenders to other countries with heavy debt loads such as Spain and Italy. Traders feared that a wave of defaults by countries would cause financial panic and mire the global economy.

Some analysts expect traders to refocus on U.S. economic news next week after months spent watching Europe. The government releases its jobs report for October next Friday. A news conference by Federal Reserve Chairman Ben Bernanke might offer clues about the Fed's economic outlook. Key reports on manufacturing and business sentiment are due out as well.

7261


----------



## bigdog

Source: http://finance.yahoo.com

October is somewhat cursed for the stock market -- the Crash of 1929, Black Monday in 1987, a slow-motion meltdown in 2008. This time, the demons made a last gasp, but Wall Street still managed to break the jinx.

Stocks had their best month in almost a decade, rising from their low point of the year in an almost uninterrupted four-week rally. The juice mostly came from Europe, which appeared to finally find a strategy for taming its debt crisis.

But the finish sure was ugly. The Dow Jones industrial average fell 276 points and finished below 12,000 on the final day of the month. It was as rough an end as it was a beginning: On the first trading day of October, the Dow lost 258.

Bank stocks were hit hard Monday. MF Global, a securities firm headed by former New Jersey Gov. Jon Corzine, filed for bankruptcy protection. Rating agencies downgraded the company last week, worried that it holds too much European debt.

Still, even counting the Halloween scare, October 2011 will be remembered on Wall Street for a comeback that only the St. Louis Cardinals could match.

For the month, the Dow rose more than 1,000 points. It gained 9.5 percent, its best showing since October 2002. The Standard & Poor's 500 index, the broadest major market average, rose 10.8 percent for the month, the best since December 1991.

On Oct. 3, both the Dow and the S&P closed at their lows of the year. The market had been through a brutal summer, losing almost 20 percent of its value -- near bear territory.

Investors were worried that the United States, with an economy growing at the slowest pace since the end of the Great Recession, was on the brink of falling back into recession.

And if the U.S. didn't tip into a new recession by itself, the market was worried that Europe would give it a push. Greece and other European nations face crushing debt, and European banks that loaned them money face big losses.

A recession in Europe would be bad news for the United States because Europe buys about 20 percent of American exports.

*The NYSE DOW NYSE DOW closed -276.10   points  LOWER or  -2.26%  on Monday October  31*
Sym .......Last .......Change..........
Dow 11,955.01 -276.10 -2.26% 
Nasdaq 2,684.41 -52.74 -1.93% 
S&P 500 1,253.30 -31.79 -2.47% 
30-yr Bond 3.1990% -0.1530 

NYSE Volume 4,310,221,000 
Nasdaq Volume 1,788,348,375 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,544.22 -158.02 -2.77% 
DAX 6,141.34 -204.85 -3.23% 
CAC 40 3,242.84 -105.79 -3.16% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,360.50 -50.90 -1.15% 
Shanghai Comp 2,468.25 -5.16 -0.21%  
Taiwan We... 7,587.69 -28.37 -0.37% 
Nikkei 225 8,988.39 -62.08 -0.69% 
Hang Seng 19,864.87 -154.37 -0.77% 
Straits Times 2,855.77 -49.95 -1.72% 

http://finance.yahoo.com/news/Ugly-...tml?x=0&sec=topStories&pos=main&asset=&ccode=

*Ugly end to historic October on Wall Street

An ugly finish, but Wall Street has its best month in almost a decade *

Matthew Craft, AP Business Writer, On Monday October 31, 2011, 4:53 pm 

NEW YORK (AP) -- October is somewhat cursed for the stock market -- the Crash of 1929, Black Monday in 1987, a slow-motion meltdown in 2008. This time, the demons made a last gasp, but Wall Street still managed to break the jinx.

Stocks had their best month in almost a decade, rising from their low point of the year in an almost uninterrupted four-week rally. The juice mostly came from Europe, which appeared to finally find a strategy for taming its debt crisis.

But the finish sure was ugly. The Dow Jones industrial average fell 276 points and finished below 12,000 on the final day of the month. It was as rough an end as it was a beginning: On the first trading day of October, the Dow lost 258.

Bank stocks were hit hard Monday. MF Global, a securities firm headed by former New Jersey Gov. Jon Corzine, filed for bankruptcy protection. Rating agencies downgraded the company last week, worried that it holds too much European debt.

Still, even counting the Halloween scare, October 2011 will be remembered on Wall Street for a comeback that only the St. Louis Cardinals could match.

For the month, the Dow rose more than 1,000 points. It gained 9.5 percent, its best showing since October 2002. The Standard & Poor's 500 index, the broadest major market average, rose 10.8 percent for the month, the best since December 1991.

On Oct. 3, both the Dow and the S&P closed at their lows of the year. The market had been through a brutal summer, losing almost 20 percent of its value -- near bear territory.

Investors were worried that the United States, with an economy growing at the slowest pace since the end of the Great Recession, was on the brink of falling back into recession.

And if the U.S. didn't tip into a new recession by itself, the market was worried that Europe would give it a push. Greece and other European nations face crushing debt, and European banks that loaned them money face big losses.

A recession in Europe would be bad news for the United States because Europe buys about 20 percent of American exports.

Someone opening his or her quarterly account statement at about that time might have tossed it in the garbage and been afraid to look again. But that day was to be the turning point.

Reports that European leaders were working on a debt plan began trickling out. Investors gained confidence after the leaders of France and Germany pledged to come up with a far-reaching resolution by the end of the month.

Added to the encouraging news out of Europe: stronger corporate earnings from the likes of Google and McDonald's and signs that the U.S. economy was not as bad as feared. Retail sales rose 1.1 percent in September, the biggest gain in seven months.

When European leaders finally unveiled the deal Thursday, stocks roared higher. The S&P 500 jumped 3.7 percent and was up for the year for the first time since Aug. 3, just before the U.S. government's debt lost its top-notch credit rating.

"It's a rally off what was a very pessimistic view of the global economy," says Todd Henry, an emerging-market equity specialist at T. Rowe Price. "Does it have legs? I think that's yet to be seen."

Under the debt agreement, banks will take a 50 percent loss on their Greek government bonds. Europe will also add money to a financial rescue fund to protect other countries. And banks will increase their capital reserves to protect themselves.

With the October books closed, the Dow was at 11,955.01. The Dow is up about 83 percent from March 2009, its lowest point after the financial meltdown. It would have to rise more than 2,200 points from here to set an all-time high.

Strong as it was, this October wasn't close to ranking as one of the best. After the 1929 crash, the market routinely ran up much bigger percentage gains. In July and August 1932, for example, the market gained more than 36 percent each month.

Worries about a second recession have receded somewhat. The government announced last week that the economy in July, August and September grew at an annual rate of 2.5 percent, more than twice the speed of earlier this year.

The European debt crisis is still far from fixed. One troubling sign is that borrowing costs for Italy and Spain have increased, a signal that traders remain worried about those countries' ability to pay their debts.

And there are problems closer to home. A congressional "supercommittee" has to find $1.2 trillion in deficit cuts in less than a month, and Republicans and Democrats are fighting about whether to focus on higher taxes or cuts in federal spending.

If they can't agree, investors are worried that Moody's, the prominent credit rating agency, will strip the United States of its top rating, joining S&P, or that S&P will lower the nation even further.


----------



## bigdog

Source: http://finance.yahoo.com

A wave of selling swept across Wall Street and stock markets around the world Tuesday after Greece's prime minister said he would call a national vote on an unpopular European plan to rescue that nation's economy.

The Dow Jones industrial average finished down nearly 300 points. It swung in 100 point bursts throughout the day as investors reacted to sometimes conflicting headlines about the next steps in Greece's long-running debt crisis. Treasurys and other assets considered safe surged. The stocks of major banks, including Citigroup and JPMorgan Chase, were hit hard.

Intense selling roiled markets in Europe. Italy's main stock index dropped 6.8 percent. France's fell 5.4 percent and Germany's fell 5 percent.

The value of the dollar rose, and bond prices jumped so dramatically that analysts said they were stunned. Analysts said the bond action reflected fears that the turmoil in Greece would tear at the fabric of Europe's financial system and create a crisis that could engulf the entire European Union, which together forms the world's largest economy.

"This brings all of the concerns about Europe back to the front burner," said Scott Brown, chief economist at Raymond James. "If this ends up turning into a financial catastrophe in Europe, then no one will escape it."

The prime minister of Greece said unexpectedly Monday that he would put the European rescue plan to a popular vote, the first referendum to be held in Greece since 1974.

The plan requires banks that hold Greek national bonds to accept 50 percent losses to help keep the Greek economy afloat. It also beefs up a European bailout fund and requires banks to strengthen their financial cushions.

There were also late reports that Greek lawmakers dissented from the plan, raising the possibility that Greece's government would not last until a confidence vote on Friday.

International creditors have demanded that Greece enact painful tax increases and drastic cuts in public welfare programs, and Greeks have shown their hostility to those measures in violent protests and strikes.

If the European rescue falls through and Greece defaults on its debt, the ripple effect would be global. Europe could fall into recession, hurting a major market for American exports, and banks could severely restrict lending.

*The NYSE DOW NYSE DOW closed  -297.05  points  LOWER or -2.48%    on Tuesday November 1*
Sym .......Last .......Change..........
Dow 11,657.96 -297.05 -2.48% 
Nasdaq 2,606.96 -77.45 -2.89% 
S&P 500 1,218.28 -35.02 -2.79% 
30-yr Bond 3.0120% -0.1870 

NYSE Volume 5,734,926,000 
Nasdaq Volume 2,326,218,000 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,421.57 -122.65 -2.21% 
DAX 5,834.51 -306.83 -5.00% 
CAC 40 3,068.33 -174.51 -5.38% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,297.20 -63.30 -1.45% 
Shanghai Comp 2,470.02 +1.77 +0.07% 
Taiwan We... 7,622.01 +34.32 +0.45% 
Nikkei 225 8,835.52 -152.87 -1.70% 
Hang Seng 19,369.96 -494.91 -2.49% 
Straits Times 2,789.35 -66.42 -2.33% 

http://finance.yahoo.com/news/Greek...9.html?x=0&sec=topStories&pos=1&asset=&ccode=

*Greek turmoil sends US and world markets lower

Stocks plunge in US and around the world after Greece rescue thrown into doubt *

Matthew Craft and David K. Randall, AP Business Writers, On Tuesday November 1, 2011, 5:30 pm

NEW YORK (AP) -- A wave of selling swept across Wall Street and stock markets around the world Tuesday after Greece's prime minister said he would call a national vote on an unpopular European plan to rescue that nation's economy.

The Dow Jones industrial average finished down nearly 300 points. It swung in 100 point bursts throughout the day as investors reacted to sometimes conflicting headlines about the next steps in Greece's long-running debt crisis. Treasurys and other assets considered safe surged. The stocks of major banks, including Citigroup and JPMorgan Chase, were hit hard.

Intense selling roiled markets in Europe. Italy's main stock index dropped 6.8 percent. France's fell 5.4 percent and Germany's fell 5 percent.

The value of the dollar rose, and bond prices jumped so dramatically that analysts said they were stunned. Analysts said the bond action reflected fears that the turmoil in Greece would tear at the fabric of Europe's financial system and create a crisis that could engulf the entire European Union, which together forms the world's largest economy.

"This brings all of the concerns about Europe back to the front burner," said Scott Brown, chief economist at Raymond James. "If this ends up turning into a financial catastrophe in Europe, then no one will escape it."

The prime minister of Greece said unexpectedly Monday that he would put the European rescue plan to a popular vote, the first referendum to be held in Greece since 1974.

The plan requires banks that hold Greek national bonds to accept 50 percent losses to help keep the Greek economy afloat. It also beefs up a European bailout fund and requires banks to strengthen their financial cushions.

There were also late reports that Greek lawmakers dissented from the plan, raising the possibility that Greece's government would not last until a confidence vote on Friday.

International creditors have demanded that Greece enact painful tax increases and drastic cuts in public welfare programs, and Greeks have shown their hostility to those measures in violent protests and strikes.

If the European rescue falls through and Greece defaults on its debt, the ripple effect would be global. Europe could fall into recession, hurting a major market for American exports, and banks could severely restrict lending.

It was only last Thursday that European leaders announced a deal that they believed would be a turning point in the two-year debt crisis. Banks agreed to take bigger losses on Greek debt and to boost their levels of cash, while the European Union increased the size of its bailout fund. Global stock markets surged after the plan was unveiled. Now, those gains seem to be fleeting.

"The stock market is expressing disgust with Greek politics and a lack of confidence that Italy and Spain will generate the growth needed to pay down their debt," said Peter Boockvar, equity strategist at Miller Tabak & Co.

The Dow fell 297.05 points, or 2.5 percent, to close at 11,657.96. It was the biggest drop since Sept. 22. The Dow has lost 573 points, or 4.7 percent, in the last two days.

The S&P 500 lost 35.02, or 2.8 percent, to 1,218.28. Some analysts took comfort that the S&P closed above 1,215. A drop below that level would erase nearly all of the market's gains in October. The Nasdaq composite dropped 77.45, or 2.9 percent, to 2,606.96.

Pfizer Inc. was the only company in the Dow stock to rise. It gained 0.4 percent after its income and revenue beat Wall Street's estimates. General Motors Co. sank 9.8 percent after its October sales came in lower than Wall Street analysts were expecting.

Financial companies in the S&P 500 dropped 4.7 percent, the biggest loss among the 10 company groups that make up the index.

Bank of America Corp lost 6.3 percent. JP Morgan Chase & Co. dropped 5.9 percent, and Citigroup shed 7.7 percent.

Tuesday's sell-off came after an almost uninterrupted rally in October that was largely due to higher confidence in Europe's latest financial rescue plan for Greece and signs that the U.S. economy was not falling into another recession.

The S&P 500 rose from 1,099 on Oct. 3 to 1,285 Friday, or 17 percent. The last two days, it's given up one-third of that gain.

"The market is being held hostage by a random event that is overshadowing everything else," said John Canally, an economist at LPL Financial. Canally noted that the U.S. economy continues to expand. Retail sales came in better than expected in September and auto sales increased in October.

In the United States, the market sank Monday before the surprise Greek announcement. MF Global Holdings, a securities firm led by former New Jersey Gov. Jon Corzine, was driven into bankruptcy in part because of its holdings of European debt. The selling accelerated after the Greek announcement, and the U.S. market opened with a drop of almost 300 points.

In the bond market, the yield on the 10-year Treasury note sank to 1.96 percent from 2.16 percent late Monday, a steep drop. Bond yields fall when their prices rise as investors buy assets that are considered to better hold their value during a slowing economy. The dollar rose to $1.36 for every euro.

The yield on the 30-year Treasury bond sank from 3.38 percent Friday to 2.96 percent Tuesday.

"That's the biggest change that I've seen in my career," said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott. "It's obscene."

The yields of Italian debt spiked to their highest level this year, another sign that investors are concerned that the debt crisis could spread to the larger economies of Europe. The yield on 1-year Italian government bonds soared 48 percent to 5.17 percent.

The yield on the 10-year German bund plunged to 1.78 percent, a 23.5 percent fall from the day before. The German economy is seen as the strongest in Europe and the most likely to repay its debt.


----------



## bigdog

Source: http://finance.yahoo.com

Stock indexes closed with broad gains Wednesday as international leaders scramble to save a week-old plan to prevent a financial crisis in Europe. Strong corporate earnings and a bump up in hiring by private companies also helped send markets higher after a steep two-day drop.

The Dow Jones industrial average gained 178.08 points, or 1.5 percent, to close at 11,836.04. The Dow lost 573 points the previous two days after the brokerage MF Global collapsed and Greece's prime minister surprised markets and his own government with a call to put unpopular austerity measures to a public vote.

"It's crazy how much the markets dropped in two days, considering that the data of the U.S. economy has actually looked pretty good," said Barry Knapp, head of equity strategy at Barclay's Capital. "It just shows you how fragile the investor psychology is with Greece hanging over everything."

For much of the summer, investors were worried that the U.S. economy was on the verge of another recession. But signs that consumers are continuing to spend and that manufacturing expanded in September have put many of those concerns to rest.

The Federal Reserve said Wednesday the economy was likely to expand modestly over the next two years. But Fed Chairman Ben Bernanke cautioned that the pace of economic growth will likely be "frustratingly slow." The Fed said it would not take any more steps to help the economy for now, but it left open the possibility of more steps later.

The fear of a wider financial crisis eased somewhat as the euro rose against the dollar and Treasury prices slipped. A revolt in George Papandreou's government could scuttle the Greek referendum. That would bring relief to investors by keeping the bailout plan intact. Papandreou faces a confidence vote on Friday.

Should voters reject the austerity plan, it could lead to a messy default on Greece's debt that would send shock waves through Europe's financial system and likely cause massive losses for banks that hold Greek bonds. Only last week European leaders agreed to a wide-ranging plan to shore up European banks and heavily indebted countries like Greece and Italy.

Papandreou traveled to France Wednesday and is scheduled to meet with leaders of the Group of 20 nations Thursday and Friday. France and Germany are expected to insist that a bailout plan reached last Thursday is the best way to solve Europe's debt problems and avoid a financial crisis.

*The NYSE DOW NYSE DOW closed  +178.08  points  HIGHER or  +1.53%  on Wednesday November 2*
Sym .......Last .......Change..........
Dow 11,836.04 +178.08 +1.53% 
Nasdaq 2,639.98 +33.02 +1.27% 
S&P 500 1,237.90 +19.62 +1.61% 
30-yr Bond 3.0380% +0.0260 

NYSE Volume 4,062,784,500 
Nasdaq Volume 1,942,042,250 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,484.10 +62.53 +1.15% 
DAX 5,965.63 +131.12 +2.25% 
CAC 40 3,110.59 +42.26 +1.38% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,251.30  -45.90 -1.07% 
Shanghai Comp  2,504.11  +34.09 +1.38% 
Taiwan Wei...  7,598.45  -23.56 -0.31% 
Nikkei 225  8,640.42  -195.10 -2.21% 
Hang Seng  19,733.71  +363.75 +1.88% 
Straits Times 2,834.75 +45.40 +1.63% 

http://finance.yahoo.com/news/Stock...1.html?x=0&sec=topStories&pos=3&asset=&ccode=

*Stocks recover after a two-day slump; Dow up 178

Stocks recover as G-20 leaders scramble to save Greece rescue plan; Dow breaks two-day slump*

Matthew Craft and David K. Randall, AP Business Writers, On Wednesday November 2, 2011, 4:23 pm 

NEW YORK (AP) -- Stock indexes closed with broad gains Wednesday as international leaders scramble to save a week-old plan to prevent a financial crisis in Europe. Strong corporate earnings and a bump up in hiring by private companies also helped send markets higher after a steep two-day drop.

The Dow Jones industrial average gained 178.08 points, or 1.5 percent, to close at 11,836.04. The Dow lost 573 points the previous two days after the brokerage MF Global collapsed and Greece's prime minister surprised markets and his own government with a call to put unpopular austerity measures to a public vote.

"It's crazy how much the markets dropped in two days, considering that the data of the U.S. economy has actually looked pretty good," said Barry Knapp, head of equity strategy at Barclay's Capital. "It just shows you how fragile the investor psychology is with Greece hanging over everything."

For much of the summer, investors were worried that the U.S. economy was on the verge of another recession. But signs that consumers are continuing to spend and that manufacturing expanded in September have put many of those concerns to rest.

The Federal Reserve said Wednesday the economy was likely to expand modestly over the next two years. But Fed Chairman Ben Bernanke cautioned that the pace of economic growth will likely be "frustratingly slow." The Fed said it would not take any more steps to help the economy for now, but it left open the possibility of more steps later.

The fear of a wider financial crisis eased somewhat as the euro rose against the dollar and Treasury prices slipped. A revolt in George Papandreou's government could scuttle the Greek referendum. That would bring relief to investors by keeping the bailout plan intact. Papandreou faces a confidence vote on Friday.

Should voters reject the austerity plan, it could lead to a messy default on Greece's debt that would send shock waves through Europe's financial system and likely cause massive losses for banks that hold Greek bonds. Only last week European leaders agreed to a wide-ranging plan to shore up European banks and heavily indebted countries like Greece and Italy.

Papandreou traveled to France Wednesday and is scheduled to meet with leaders of the Group of 20 nations Thursday and Friday. France and Germany are expected to insist that a bailout plan reached last Thursday is the best way to solve Europe's debt problems and avoid a financial crisis.

In the U.S., an increase in hiring by private companies helped lift stock prices. Automatic Data Processing said company payrolls rose by 110,000 in October, more than economists had expected. Most of the gains came from the service industry. ADP also revised its survey results for September higher. Investors see ADP's report as a precursor to the government's broader employment report, which is due out Friday.

Bank of America rose 5 percent, the largest gain among the 30 stocks in the Dow. MasterCard gained 7 percent after reporting that its quarterly earnings soared 38 percent. The results beat analysts' expectations. Intel Corp. was the only Dow stock to drop, losing 0.2 percent.

The Standard and Poor's 500 rose 19.62 points, or 1.6 percent, to 1,237.90. The Nasdaq composite gained 33.02, or 1.3 percent, to 2,639.98.

Small stocks rose more than the overall market, a sign that investors were taking on more risk. The Russell 2000 index added 2.7 percent.

The yield on the 10-year Treasury note rose to 1.99 percent, up from 1.96 percent late Tuesday.

Among companies reporting quarterly earnings, EOG Resources Inc. rose 11.8 percent. The oil and gas company reported third-quarter earnings that beat analysts' expectations after posting a loss a year ago. JDS Uniphase Corp. jumped 8.5 percent after the technology company's earnings surpassed estimates.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average jumped 208 points Thursday after Greece scrapped a referendum on unpopular budget cuts and the European Central Bank unexpectedly cut interest rates. It was the second straight day of big gains in the stock market.

The European Central Bank surprised markets by cutting its benchmark interest rate a quarter of a percentage point, to 1.25 percent. The bank had increased its key rate twice this year, but that was before Mario Draghi took over as head of the bank this week. The announcement sent stocks higher as investors hoped that lowering borrowing costs would help prevent a recession in Europe.

Buying intensified in the early afternoon after Greek Prime Minister George Papandreou abandoned his effort to put package of austerity measures to a public vote. A "no" vote could have caused chaos in the European financial system by leading to a messy default on Greece's debt.

Investors and other European nations were shocked by Papandreou's announcement Monday that he would call a referendum on a financial rescue package worked out just last week after months of negotiations between Greece and its international lenders.

The Dow lost 573 points the first two days of this week as investors feared that Europe's plan to preserve its currency union was in jeopardy. Markets in the U.S. and Europe have been highly sensitive to headlines out of Europe as leaders there try to avoid a financial calamity. Investors have become fatigued as various efforts to resolve the situation seem to continually run into trouble.

"Today it looks like a deal in Europe is more likely and that's making the market positive, but who knows what people will think tomorrow," said Uri Landesman, president of Platinum Partners.

The Dow Jones industrial average gained 208.43 points, or 1.8 percent, to 12,044.47. The average closed above 12,000 for only the third time since the start of August. The Dow last closed above that level on Friday. Even with the gain of 386 points over the last two days, the Dow is still 1.5 percent below where it closed on Friday.

The S&P 500 rose 23.25, or 1.9 percent, to 1,261.15. The Nasdaq composite added 57.99, or 2.2 percent, to 2,697.97.

*The NYSE DOW NYSE DOW closed  +208.43   points  HIGHER or  +1.76%   on Thursday November 3*
Sym .......Last .......Change..........
Dow 12,044.47 +208.43 +1.76% 
Nasdaq 2,697.97 +57.99 +2.20% 
S&P 500 1,261.15 +23.25 +1.88% 
30-yr Bond 3.1190% +0.0810 

NYSE Volume 4,849,149,500 
Nasdaq Volume 2,148,791,750 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,545.64 +61.54 +1.12% 
DAX 6,133.18 +167.55 +2.81% 
CAC 40 3,195.47 +84.88 +2.73% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,237.50 -13.80 -0.32% 
Shanghai Comp 2,508.09 +3.98 +0.16% 
Taiwan We... 7,460.31 -138.14 -1.82% 
Nikkei 225 8,640.42 -195.10 -2.21% 
Hang Seng 19,242.50 -491.21 -2.49% 
Straits Times 2,810.04 -24.71 -0.87% 

http://au.finance.yahoo.com/news/Dow-jumps-208-after-Greek-apf-716882577.html?x=0

*Dow jumps 208 after Greek referendum is scrapped

Dow average soars 208 points after Greece scraps referendum on austerity measures *

Matthew Craft and David K. Randall, AP Business Writers, On Friday 4 November 2011, 8:18 
NEW YORK (AP) -- The Dow Jones industrial average jumped 208 points Thursday after Greece scrapped a referendum on unpopular budget cuts and the European Central Bank unexpectedly cut interest rates. It was the second straight day of big gains in the stock market.

The European Central Bank surprised markets by cutting its benchmark interest rate a quarter of a percentage point, to 1.25 percent. The bank had increased its key rate twice this year, but that was before Mario Draghi took over as head of the bank this week. The announcement sent stocks higher as investors hoped that lowering borrowing costs would help prevent a recession in Europe.

Buying intensified in the early afternoon after Greek Prime Minister George Papandreou abandoned his effort to put package of austerity measures to a public vote. A "no" vote could have caused chaos in the European financial system by leading to a messy default on Greece's debt.

Investors and other European nations were shocked by Papandreou's announcement Monday that he would call a referendum on a financial rescue package worked out just last week after months of negotiations between Greece and its international lenders.

The Dow lost 573 points the first two days of this week as investors feared that Europe's plan to preserve its currency union was in jeopardy. Markets in the U.S. and Europe have been highly sensitive to headlines out of Europe as leaders there try to avoid a financial calamity. Investors have become fatigued as various efforts to resolve the situation seem to continually run into trouble.

"Today it looks like a deal in Europe is more likely and that's making the market positive, but who knows what people will think tomorrow," said Uri Landesman, president of Platinum Partners.

The Dow Jones industrial average gained 208.43 points, or 1.8 percent, to 12,044.47. The average closed above 12,000 for only the third time since the start of August. The Dow last closed above that level on Friday. Even with the gain of 386 points over the last two days, the Dow is still 1.5 percent below where it closed on Friday.

The S&P 500 rose 23.25, or 1.9 percent, to 1,261.15. The Nasdaq composite added 57.99, or 2.2 percent, to 2,697.97.

Reports on the U.S. economy also lifted stocks. The number of people who applied for unemployment benefits last week dipped to the lowest level in five weeks. The number of applications fell below 400,000 for only the third time since April. That's a sign layoffs are easing. Companies also made more orders to U.S. factories in September.

"All of the economic data is pointing to a slow-growing economy, and putting the recession fears to rest," said Bill Stone, chief investment strategist at PNC Asset Management Group.

Companies reporting quarterly earnings were among those making the biggest gains.

Estee Lauder Cos. jumped 18 percent, the top stock in the S&P 500. The company's quarterly earnings soared 46 percent on strong global sales, which beat analysts' expectations. The company also raised its annual earnings outlook.

Alpha Natural Resources rose 13.3 percent. The coal producer's profit more than doubled, helped by its acquisition of rival Massey Energy Co. and higher prices for coal used to make steel. The results topped estimates.

Qualcomm Inc. gained 7.5 percent, after the chip-maker for mobile phones said rising smartphone demand helped it post results that were stronger than analysts were expecting.

Kraft Foods Inc. rose 33 percent. The food company, whose brands include Nabisco and Maxwell House, reported a 22 percent jump in income thanks to higher prices on some of its products. Kraft also raised its full-year profit forecast.

Kellogg Co. dropped 7.6 percent after its quarterly earnings fell even further than analysts had expected. The cereal and snack maker was hit by higher costs for ingredients.


----------



## bigdog

Source: http://finance.yahoo.com

Investors were taking few chances Friday while they waiting for a confidence vote in Greece on the country's embattled prime minister. Stocks fell on concerns that the country might not go through with an austerity program needed to prevent a default on its debt.

The Dow Jones industrial average closed down 61 points, recouping some of the ground it lost earlier in the day. The average fell 2 percent for the week, its first weekly loss since September.

Europe's debt problems were again the focus for investors Friday -- as they have been all week. Stocks plunged Monday and Tuesday after Prime Minister George Papandreou shocked investors with an announcement that he would put the country's austerity plan to a public vote. He backed away from the plan, but investors are still unnerved by the political turmoil in Greece. It threatens to hobble Europe's efforts to control its debt crisis.

In one bright spot Friday, Groupon Inc. jumped 31 percent to $26.11 on its first day of trading. The initial public offering of the company priced at $20 a share late Thursday.

The dollar rose after the Labor Department raised its estimates for job growth. The nation added 80,000 jobs last month, the 13th consecutive month of gains. The government also said a total of 102,000 more jobs were added in August and September than had been previously reported.

The Dow fell 61.23 points, or 0.5 percent, to close at 11,983.24. It had been down as many as 194 points after the first hour of trading.

The Standard & Poor's 500 index fell 7.92, or 0.6 percent, to 1,253.23. The Nasdaq composite shed 11.82, or 0.4 percent, to 2,686.15.

The S&P 500 fell 2.5 percent for the week, while the Nasdaq dropped 1.9 percent.

*The NYSE DOW NYSE DOW closed -61.23    points  LOWER or   -0.51%  on Friday November 4*
Sym .......Last .......Change..........
Dow 11,983.24 -61.23 -0.51% 
Nasdaq 2,686.15 -11.82 -0.44% 
S&P 500 1,253.23 -7.92 -0.63% 
30-yr Bond 3.1040% -0.0150 

NYSE Volume 3,947,110,000 
Nasdaq Volume 1,959,117,625 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,527.16 -18.48 -0.33% 
DAX 5,966.16 -167.02 -2.72% 
CAC 40 3,123.55 -71.92 -2.25% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,342.50 +105.00 +2.48% 
Shanghai Comp 2,528.29 +20.20 +0.81% 
Taiwan We... 7,603.23 +142.92 +1.92% 
Nikkei 225 8,801.40 +160.98 +1.86% 
Hang Seng 19,842.79 +600.29 +3.12% 
Straits Times 2,848.24 +38.20 +1.36% 

http://finance.yahoo.com/news/Stock...5.html?x=0&sec=topStories&pos=5&asset=&ccode=

*Stocks slide ahead of confidence vote in Greece

Stocks slide as Greece's government faces a confidence vote; Europe's debt deal in question* 

David K. Randall, AP Business Writer, On Friday November 4, 2011, 5:26 pm 

NEW YORK (AP) -- Investors were taking few chances Friday while they waiting for a confidence vote in Greece on the country's embattled prime minister. Stocks fell on concerns that the country might not go through with an austerity program needed to prevent a default on its debt.

The Dow Jones industrial average closed down 61 points, recouping some of the ground it lost earlier in the day. The average fell 2 percent for the week, its first weekly loss since September.

Europe's debt problems were again the focus for investors Friday -- as they have been all week. Stocks plunged Monday and Tuesday after Prime Minister George Papandreou shocked investors with an announcement that he would put the country's austerity plan to a public vote. He backed away from the plan, but investors are still unnerved by the political turmoil in Greece. It threatens to hobble Europe's efforts to control its debt crisis.

In one bright spot Friday, Groupon Inc. jumped 31 percent to $26.11 on its first day of trading. The initial public offering of the company priced at $20 a share late Thursday.

The dollar rose after the Labor Department raised its estimates for job growth. The nation added 80,000 jobs last month, the 13th consecutive month of gains. The government also said a total of 102,000 more jobs were added in August and September than had been previously reported.

The release of the monthly employment report is usually a focus for the stock market, but this time developments in Europe's debt crisis were driving trading.

"Unless the jobs number came out with a huge surprise one way or the other, it's just a momentary diversion from where the market focus has been, and will continue to be for the foreseeable future, until there is a resolution in Europe," said Brad Sorenson, head of market analysis at Charles Schwab.

It wasn't clear that if the confidence vote went against Papandreou that his government, or the austerity plan, would fail. But investors want the political and economic situation in Greece to be resolved. They're worried that if Greece defaults it could cripple European banks and cause fiscal strain on much larger European countries like Italy, which are too big to bail out. Greece, Ireland and Portugal -- all relatively small countries -- have received financial lifelines from international lenders.

The Dow fell 61.23 points, or 0.5 percent, to close at 11,983.24. It had been down as many as 194 points after the first hour of trading.

The Standard & Poor's 500 index fell 7.92, or 0.6 percent, to 1,253.23. The Nasdaq composite shed 11.82, or 0.4 percent, to 2,686.15.

The S&P 500 fell 2.5 percent for the week, while the Nasdaq dropped 1.9 percent.

The stock market has begun November by continuing the volatility that marked the previous four months. The Dow rose or fell by more than 100 points the first three days of the month. However, November has historically been the beginning of the market's best six months of the year. Since 1950, the S&P 500 has risen 7.1 percent from November through April. The other six months it has averaged a gain of just 1 percent.

In corporate news, Starbucks Corp. jumped 7 percent to $44.19 after the company's quarterly results beat Wall Street's expectations.

Advanced Micro Devices Inc. fell 1 percent to $5.67 after the chip maker said it would cut 1,400 workers because of a weak market for computers. It also reported manufacturing delays.

Social networking site LinkedIn Inc. dropped 5.9 percent to $82.37 after posting its first quarterly loss since going public.

7904


----------



## bigdog

Source: http://finance.yahoo.com

A late rally pushed the Dow Jones industrial average back above 12,000 Monday as investors responded to the latest twists in Europe's efforts to control its debt crisis. 

U.S. indexes were down for much of the day on worries that Italy could become the next country to run into trouble. Stocks turned higher after 2 p.m. Eastern on news that Greece would receive the latest installment of emergency aid as long as the country's two main parties commit to implementing economic reforms agreed to by the country's previous government. 

Investors again reacted to whatever was the latest headline out of Europe. The region's problems have been offsetting optimism about strong corporate earnings in the U.S. and signs of improvement in the economy. 

"Every day it seems like it's the butting of heads between whatever the latest rumor is out of Europe with good economic data and corporate earnings," said Karyn Cavanaugh, a market strategist with ING Investment Management. "It's overshadowing the fact that earnings are on track to be the best year ever." 

The Dow rose 85.15 points, or 0.7 percent, to close at 12,068.39. The Dow closed near its highest point of the day and had been down as many as 102 points shortly after midday. Hewlett-Packard Co. rose 3.4 percent, the most of the 30 stocks in the Dow. 

The Standard & Poor's 500 index rose 7.89, or 0.6 percent, to 1,261.12. Last week the S&P had its first down week since September. The Nasdaq rose 9.10, or 0.3 percent, to 2,695.25. 

Worries that Italy could become the next victim of Europe's debt crisis kept investors uneasy. 

*The NYSE DOW NYSE DOW closed +85.15    points  HIGHER  or +0.71%   on Monday November 7*
Sym .......Last .......Change..........
Dow  12,068.39  +85.15 +0.71% 
Nasdaq  2,695.25  +9.10 +0.34% 
S&P 500  1,261.12  +7.89 +0.63% 
30-yr Bond  3.0350 % -0.0690  

NYSE Volume  3,429,742.25  
Nasdaq Volume  1,730,964.12 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,510.82 -16.34 -0.30%
DAX 5,928.68 -37.48 -0.63%
CAC 40 3,103.60 -19.95 -0.64% 
*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,335.30 -7.20 -0.17% 
Shanghai Comp 2,509.80  0.00 0.00% 
Taiwan We... 7,621.72 +18.49 +0.24% 
Nikkei 225 8,767.09 -34.31 -0.39% 
Hang Seng 19,677.89 -164.90 -0.83% 
Straits Times 2,848.24 0.00 0.00% 

http://beta.finance.yahoo.com/news/stocks-push-higher-dow-regains-215309166.html

*Stocks push higher; Dow regains the 12,000 mark

Late rally sends stocks higher on hopes Greece will get more bailout funds; Dow up 85*

By David k. Randall, AP Business Writer | AP – 28 minutes ago

NEW YORK (AP) -- A late rally pushed the Dow Jones industrial average back above 12,000 Monday as investors responded to the latest twists in Europe's efforts to control its debt crisis. 

U.S. indexes were down for much of the day on worries that Italy could become the next country to run into trouble. Stocks turned higher after 2 p.m. Eastern on news that Greece would receive the latest installment of emergency aid as long as the country's two main parties commit to implementing economic reforms agreed to by the country's previous government. 

Investors again reacted to whatever was the latest headline out of Europe. The region's problems have been offsetting optimism about strong corporate earnings in the U.S. and signs of improvement in the economy. 

"Every day it seems like it's the butting of heads between whatever the latest rumor is out of Europe with good economic data and corporate earnings," said Karyn Cavanaugh, a market strategist with ING Investment Management. "It's overshadowing the fact that earnings are on track to be the best year ever." 

The Dow rose 85.15 points, or 0.7 percent, to close at 12,068.39. The Dow closed near its highest point of the day and had been down as many as 102 points shortly after midday. Hewlett-Packard Co. rose 3.4 percent, the most of the 30 stocks in the Dow. 

The Standard & Poor's 500 index rose 7.89, or 0.6 percent, to 1,261.12. Last week the S&P had its first down week since September. The Nasdaq rose 9.10, or 0.3 percent, to 2,695.25. 

Worries that Italy could become the next victim of Europe's debt crisis kept investors uneasy. 

Italy's borrowing rates spiked Monday to the highest level since the country adopted the euro. Unlike Greece, Portugal or Ireland ”” all of which received financial lifelines ”” Italy has too much debt to be rescued by its European neighbors. Prime Minister Silvio Berlusconi has rejected suggestions that he resign to make way for more cost-cutting. 

In Greece, the two main political parties agreed over the weekend to share power in a new government after George Papandreou said he would step aside as prime minister. European finance officials agreed to release the next slice of bailout money to Greece as long as leaders of the parties agree in writing to carry out austerity measures required by international lenders. 

The payment has been delayed by two months and is needed to avoid a potentially disastrous default on the country's debt, which would roil financial markets and cause losses for European banks. 

The worries over Europe's debt problems lifted the prices of assets seen as safe havens. The yield on the 10-year Treasury note fell to 2.01 percent from 2.04 percent late Friday. Bond yields fall when their prices rise, reflecting an increase in demand. Gold rose 2 percent. 

In corporate news: 

”” Amgen Inc. rose 5.9 percent to $58.43, the most in the S&P 500 index, after the biotech drugmaker said it would buy back up to $5 billion of its stock. 

”” Dish Network Corp. rose 5 percent to $24.66 after the satellite TV provider announced a special $2 per share dividend and a 30 percent increase in net income. 

”” Home Depot Inc. rose 2.6 percent to $37.34 after getting upgraded by analysts. 

Rising stocks slightly outnumbered falling ones on the New York Stock Exchange. Volume was lighter than average at 3.4 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks turned higher Tuesday once investors got the news they had been hoping for: Italian Prime Minister Silvio Berlusconi promised to resign once a new budget was passed. The Dow Jones industrial closed up 101 points.

Italy became a key focus for investors this week after doubts emerged that the country would go through with a tough package of austerity measures. Many investors saw Berlusconi as an obstacle to sweeping economic reforms needed to help Italy avoid sinking into a debt crisis.

The yield on the 10-year Italian government bond spiked close to 7 percent Tuesday, a sign that markets are questioning the country's ability to pay its debt. Unlike Greece, Portugal or Ireland -- all of which received financial lifelines -- Italy has too much debt to be rescued by its European neighbors.

Europe's debt crisis has dictated much of the trading in financial markets since the beginning of October. Investors fear that a default by Greece or another nation that shares the euro currency could lead to a widespread financial crisis similar to the one in 2008 after the fall of Lehman Brothers.

"Europe is the last big question hanging over the market, and drowned out a decent earnings season," said Rick Fier, vice president of equity trading at Confier Securities. "The market has been so whipsawed lately that it's really just staying in place until we know some more outcomes."

The Dow Jones industrial average rose 101.79 points, or 0.8 percent, to close at 12,170.18. Manufacturer 3M Co. gained 2.7 percent, the most of the 30 stocks in the average.

The S&P 500 rose 14.80, or 1.2 percent, to 1,275.92. Financial companies posted the strongest gains. Regions Financial Corp. jumped 5.3 percent. Wells Fargo & Co. climbed 4.4 percent.

The Nasdaq composite rose 32.24, or 1.2 percent, to 2,727.49.

*The NYSE DOW NYSE DOW closed +101.79   points  HIGHER or   +0.84%
  on Tuesday November 8*
Sym .......Last .......Change..........
Dow 12,170.18  +101.79 +0.84%
Nasdaq 2,727.49  +32.24 +1.20%
S&P 500 1,275.92  +14.80 +1.17% 
30-yr Bond 3.1250%   +0.09 

NYSE Volume 3,950,287,000.00 
Nasdaq Volume 1,875,708,250.00 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,567.34 +56.52 +1.03%
DAX 5,961.44 +32.76 +0.55%
CAC 40 3,143.30  +39.70 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,356.70 +21.40 +0.49% 
Shanghai Comp 2,503.84 
Taiwan We... 7,600.79 -20.93 -0.27% 
Nikkei 225 8,655.51 -111.58 -1.27% 
Hang Seng 19,678.47 +0.58 +0.00% 
Straits Times 2,866.08 +17.84 +0.63% 


http://finance.yahoo.com/news/Dow-S...content/main/803223079/date/desc/11/s10400842

*Stocks rise after Berlusconi promises to leave

Stocks close higher after Italy's Berlusconi says he will resign following passage of budget *

David K. Randall and Matthew Craft, AP Business Writers, On Tuesday November 8, 2011, 5:10 pm 

NEW YORK (AP) -- Stocks turned higher Tuesday once investors got the news they had been hoping for: Italian Prime Minister Silvio Berlusconi promised to resign once a new budget was passed. The Dow Jones industrial closed up 101 points.

Italy became a key focus for investors this week after doubts emerged that the country would go through with a tough package of austerity measures. Many investors saw Berlusconi as an obstacle to sweeping economic reforms needed to help Italy avoid sinking into a debt crisis.

The yield on the 10-year Italian government bond spiked close to 7 percent Tuesday, a sign that markets are questioning the country's ability to pay its debt. Unlike Greece, Portugal or Ireland -- all of which received financial lifelines -- Italy has too much debt to be rescued by its European neighbors.

Europe's debt crisis has dictated much of the trading in financial markets since the beginning of October. Investors fear that a default by Greece or another nation that shares the euro currency could lead to a widespread financial crisis similar to the one in 2008 after the fall of Lehman Brothers.

"Europe is the last big question hanging over the market, and drowned out a decent earnings season," said Rick Fier, vice president of equity trading at Confier Securities. "The market has been so whipsawed lately that it's really just staying in place until we know some more outcomes."

The Dow Jones industrial average rose 101.79 points, or 0.8 percent, to close at 12,170.18. Manufacturer 3M Co. gained 2.7 percent, the most of the 30 stocks in the average.

The S&P 500 rose 14.80, or 1.2 percent, to 1,275.92. Financial companies posted the strongest gains. Regions Financial Corp. jumped 5.3 percent. Wells Fargo & Co. climbed 4.4 percent.

The Nasdaq composite rose 32.24, or 1.2 percent, to 2,727.49.

U.S. stock indexes fell in the morning after Berlusconi narrowly survived a confidence vote, a sign that he might continue to cling to power. The market turned higher immediately after headlines crossed around 2 p.m. Eastern saying Berlusconi had promised to step down after economic reforms are passed. That is expected to happen next week.

European stock markets were also higher. Italy's main index rose 0.7 percent. Germany's main index rose 0.6 percent, France's 1.3 percent.

In the U.S., the Labor Department said employers advertised more jobs in September than at any other point in the past three years. The 7 percent increase in job openings are a hopeful sign that companies may step up hiring.

Priceline.com Inc. rose 8.6 percent after its third-quarter earnings more than doubled from a year earlier. Most of the gains were attributed to a jump in hotel bookings.

Activision Blizzard Inc. gained 1.4 percent as analysts expect the company's latest "Call of Duty" video game to sell about 10 percent more units than last year's version. Auction house Sotheby's fell 2.2 percent after the company posted a wider-than-expected loss in the third quarter.

Nearly three stocks rose for every one that fell on the New York Stock Exchange. Trading volume was above average at 3.9 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Trouble on two fronts in Europe's debt crisis dragged the Dow Jones industrial average down 389 points Wednesday. The S&P 500 lost 3.7 percent, its biggest one-day drop since August, after Italy's borrowing costs soared and talks collapsed in Greece on forming a new government.

The euro dropped 2 percent against the dollar and Treasury yields sank as money moved out of Europe and traders bought U.S. government bonds. Goldman Sachs, Morgan Stanley and other large banks were hit hard on worries over their ability to handle a financial crisis that might be brought on by trouble in Europe.

Only one stock in the S&P 500 rose: Best Buy Co. Inc., up 1.4 percent.

The yield on the benchmark Italian government bond spiked above 7 percent, evidence that investors are losing faith in the country's ability to repay its debt. Greece, Portugal and Ireland required financial rescues when their government bond yields rose above the same mark. Unlike those countries, Italy's $2.6 trillion in debt is too large for other European countries to rescue.

In Greece, power-sharing talks fell apart between the country's two main political parties, raising doubt about whether the country will be able to receive the next installment of emergency loans it needs to avoid default.

Italian Premier Silvio Berlusconi promised late Tuesday to step aside after a new budget is passed, but there are concerns that the transition to a new government will be difficult. Markets see Berlusconi as an impediment to the kind of far-reaching economic reforms Italy needs to remain solvent.

"The market loves a quick solution and we're obviously not getting one," said Mark Lehmann, director of equities of JMP Securities. "We've had a strong rally off the bottom and any piece of bad news is going to be responded to negatively."

The Dow sank 3.2 percent to close at 11,780.94, the biggest drop since Sept. 22.

The Dow fell 276 on Monday of last week and then 297 points the following day after the Greek prime minister said he would put an unpopular package of austerity cuts to a public vote. That raised the prospect that the measures would fail and Greece would default. The referendum was later scrapped. The Dow gained back nearly all that ground over the following five days.

The S&P 500 lost 46.82 points, or 3.7 percent, to 1,229.10.

The Nasdaq composite slid 105.84, or 3.9 percent, to 2,621.65. Both the S&P 500 and the Nasdaq are below where they started the year. The Dow is still up 1.8 percent.

*The NYSE DOW NYSE DOW closed -389.24   points    LOWER or  -3.20% on Wednesday November 9*
Sym .......Last .......Change..........
Dow 	11,780.94 -389.24 -3.20%
Nasdaq 	2,621.65 -105.84 -3.88%
S&P 500 	1,229.10 	-46.82 -3.67%
30-yr Bond 	3.0160% 	-0.1090

NYSE Volume 	4,669,040,000.00
Nasdaq Volume 	2,161,751,750.00

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,460.38  -106.96 -1.92% 
CAC 40	3,075.16 -68.14 -2.17%	
DAX	5,829.54 -131.90 -2.21% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,406.20  +49.50 +1.14% 
Shanghai Comp  2,524.92  +21.08 +0.84%  
Taiwan Wei...  7,561.86  -38.93 -0.51% 
Nikkei 225  8,755.44  +99.93 +1.15% 
Hang Seng  20,014.43  +335.96 +1.71% 
Straits Times 2,861.17 -5.35 -0.19%

http://finance.yahoo.com/news/Dow-sinks-3-percent-as-Europe-apf-2948626889.html?x=0

Dow sinks 3 percent as Europe uncertainty deepens

*Dow plunges 3 percent as Italy's borrowing rate soars and Greek political chaos deepens *

Matthew Craft and David K. Randall, AP Business Writers, On Wednesday November 9, 2011, 4:37 pm 

NEW YORK (AP) -- Trouble on two fronts in Europe's debt crisis dragged the Dow Jones industrial average down 389 points Wednesday. The S&P 500 lost 3.7 percent, its biggest one-day drop since August, after Italy's borrowing costs soared and talks collapsed in Greece on forming a new government.

The euro dropped 2 percent against the dollar and Treasury yields sank as money moved out of Europe and traders bought U.S. government bonds. Goldman Sachs, Morgan Stanley and other large banks were hit hard on worries over their ability to handle a financial crisis that might be brought on by trouble in Europe.

Only one stock in the S&P 500 rose: Best Buy Co. Inc., up 1.4 percent.

The yield on the benchmark Italian government bond spiked above 7 percent, evidence that investors are losing faith in the country's ability to repay its debt. Greece, Portugal and Ireland required financial rescues when their government bond yields rose above the same mark. Unlike those countries, Italy's $2.6 trillion in debt is too large for other European countries to rescue.

In Greece, power-sharing talks fell apart between the country's two main political parties, raising doubt about whether the country will be able to receive the next installment of emergency loans it needs to avoid default.

Italian Premier Silvio Berlusconi promised late Tuesday to step aside after a new budget is passed, but there are concerns that the transition to a new government will be difficult. Markets see Berlusconi as an impediment to the kind of far-reaching economic reforms Italy needs to remain solvent.

"The market loves a quick solution and we're obviously not getting one," said Mark Lehmann, director of equities of JMP Securities. "We've had a strong rally off the bottom and any piece of bad news is going to be responded to negatively."

The Dow sank 3.2 percent to close at 11,780.94, the biggest drop since Sept. 22.

The Dow fell 276 on Monday of last week and then 297 points the following day after the Greek prime minister said he would put an unpopular package of austerity cuts to a public vote. That raised the prospect that the measures would fail and Greece would default. The referendum was later scrapped. The Dow gained back nearly all that ground over the following five days.

The S&P 500 lost 46.82 points, or 3.7 percent, to 1,229.10.

The Nasdaq composite slid 105.84, or 3.9 percent, to 2,621.65. Both the S&P 500 and the Nasdaq are below where they started the year. The Dow is still up 1.8 percent.

The slide was broad. Financial firms and material producers fell the most. Morgan Stanley plunged 8 percent and Goldman Sachs lost 7 percent.

In quarterly filings this week, Morgan Stanley reported that it had $1.79 billion in exposure to Italy. Goldman Sachs Group Inc. said it had $2.4 billion in loans and other liabilities to Greece, Italy and other heavily indebted European countries. Goldman has a total of $28 billion exposed to all of Europe.

Markets fear that a chaotic default by either Greece or Italy would lead to huge losses for European banks. That, in turn, could cause a global lending freeze that might escalate into another credit crisis similar to the one in 2008 after Lehman Brothers fell.

European markets also fell sharply. Italy's benchmark index plunged 3.8 percent. Germany's DAX and France's CAC-40 each lost 2.2 percent.

A main cause of worry was a sharp increase in Italy's borrowing costs. The yield on the benchmark 10-year Italian government bond surged as high as 7.40 percent Wednesday, a gain of 0.82 percentage point from the previous day. It settled down to 7.25 percent later in the day, a level still considered unsustainable by economists.

Prices of assets seen as havens rose sharply. The dollar jumped 2 percent versus the euro. The yield on the benchmark 10-year Treasury note fell to 1.96 percent from 2.08 percent late Tuesday, a steep drop.

Nine stocks fell for every one that rose on the New York Stock Exchange. Trading volume was high at 4.6 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Signs of progress in Europe's debt crisis and an unexpected drop in unemployment claims pushed stocks higher Thursday, a day after the stock market took its worst fall since the summer.

Greece named a new prime minister Thursday and Italy borrowed $6.8 billion at lower interest rates than analysts expected. Italy's benchmark rate dropped below 7 percent after spiking above that level Wednesday.

Investors were also relieved by talk that the economist Mario Monti is likely to replace Premier Silvio Berlusconi, who was seen as an obstacle to meaningful economic reforms. Italy's president pledged that Berlusconi will step down soon.

The Dow Jones industrial average rose 112.92 points, or 1 percent, to close at 11,893.86. It plunged 389 points Wednesday after Italy's borrowing rates soared and talks in Greece to name a new prime minister broke down. Traders have been concerned that debt troubles in Italy and Greece could spread to the U.S. and lead to a global financial crisis.

*The NYSE DOW NYSE DOW closed +112.92 points  HIGHER  or +0.13%   on Thursday November 10*
Sym .......Last .......Change..........
Dow  11,893.86  +112.92 +0.96% 
Nasdaq  2,625.15  +3.50 +0.13% 
S&P 500  1,239.70  +10.60 +0.86% 
30-yr Bond  3.1110 % +0.0950 

NYSE Volume  4,015,058.50  
Nasdaq Volume  1,908,959.75 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,444.82  -15.56  -0.28% 
DAX 5,867.81  +38.27  +0.66% 
CAC 40 3,064.84  -10.32  -0.34% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,307.30  -98.90 -2.24% 
Shanghai Comp  2,479.54  -45.38  -1.80% 
Taiwan Wei...  7,308.68  -253.18 -3.35% 
Nikkei 225  8,500.80  -254.64 -2.91% 
Hang Seng  18,963.89  -1,050.54 -5.25% 
Straits Times  2,786.90   -71.76 -2.51% 

http://news.yahoo.com/progress-italy-greece-debt-sends-stocks-160240195.html

*Progress in Italy, Greece on debt sends stocks up*
By DAVID K. RANDALL and MATTHEW CRAFT - AP Business Writers

NEW YORK (AP) ”” Signs of progress in Europe's debt crisis and an unexpected drop in unemployment claims pushed stocks higher Thursday, a day after the stock market took its worst fall since the summer.

Greece named a new prime minister Thursday and Italy borrowed $6.8 billion at lower interest rates than analysts expected. Italy's benchmark rate dropped below 7 percent after spiking above that level Wednesday.

Investors were also relieved by talk that the economist Mario Monti is likely to replace Premier Silvio Berlusconi, who was seen as an obstacle to meaningful economic reforms. Italy's president pledged that Berlusconi will step down soon.

The Dow Jones industrial average rose 112.92 points, or 1 percent, to close at 11,893.86. It plunged 389 points Wednesday after Italy's borrowing rates soared and talks in Greece to name a new prime minister broke down. Traders have been concerned that debt troubles in Italy and Greece could spread to the U.S. and lead to a global financial crisis.

Peter Cardillo, chief market economist at Rockwell Global Capital, called the drop in unemployment claims and the news from Europe encouraging. "It's got the markets on the cheerful side," he said.

The S&P 500 index gained 10.60, or 0.9 percent, to 1,239.70. The Nasdaq rose 3.50 points, or 0.1 percent, to 2,625.15. Apple Inc. fell 2.5 percent, dragging down the Nasdaq.

The Labor Department reported early Thursday that the number of people applying for unemployment benefits fell to 390,000 last week. That figure and the four-week average were the lowest since April. The drop is a sign the job market may be improving.

There were also signs of progress in Greece, the other focus of Europe's debt crisis. A day after a breakdown in power-sharing talks in Greece jolted financial markets, senior banker Lucas Papademos was named prime minister of a new coalition government. Papademos, a former vice president at the European Central Bank, is tasked with passing austerity measures being demanded by international lenders.

Cardillo said he didn't believe that the worst predictions about Europe's debt crisis would come true. If things get bad enough, he said, the U.S. would have no choice but to come to the rescue.

"If Italy was to fail, you can rest assured Europe would fail and the global economy would fail," he said. "The U.S. is in a global economy. Whatever happens in one part of the globe is no longer isolated."


----------



## bigdog

Source: http://finance.yahoo.com

Stocks surged Friday, erasing their losses for the week, after Italy and Greece moved closer to getting their financial crises under control. The Dow Jones industrial average jumped back above 12,000. 

Italy's benchmark stock index leapt 3.7 percent and its borrowing costs plunged after the country's Senate passed a crucial austerity budget demanded by the European Union. Other European stock markets and the euro also pushed higher as investors became more confident that Italy would avoid a fiscal disaster. 

The passage clears the way for Italian Premier Silvio Berlusconi to step down. Berlusconi was widely considered an obstacle to serious economic reforms. The yield on Italy's benchmark two-year bond dropped 0.43 percentage point to 5.69 percent. That's a sign bond investors think Italy will succeed in managing its massive debt load. 

The Dow Jones industrial average jumped 259.89 points, or 2.2 percent, to 12,153.68. It closed below 12,000 the previous two days. Friday's rally pushed the Dow up 1.4 percent for the week. 

Together with a 112-point gain the day before, the Dow has now made up most of the 389-point plunge it took on Wednesday. That sell-off was triggered by a spike in Italy's borrowing costs and a breakdown in talks to name a new prime minister in Greece. 

The S&P 500 rose 24.16, or 1.9 percent, to 1,263.85. Only 13 of the 500 stocks in the S&P fell. Technology and materials companies had the biggest gains. 

*The NYSE DOW NYSE DOW closed  +259.89   points  HIGHER   or +2.19%   on Friday November 11*
Sym .......Last .......Change..........
Dow  12,153.68  +259.89 +2.19% 
Nasdaq  2,678.75  +53.60 +2.04% 
S&P 500  1,263.85  +24.16 +1.95% 
30-yr Bond  3.1100% -0.0010 

NYSE Volume  3,326,968,750  
Nasdaq Volume  1,599,995,000  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 	5,545.38 	+100.56	+1.85%
FTSE 100 5,545.38  +100.56  +1.85% 
DAX 6,057.03  +189.22  +3.22% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,358.60  +51.30 +1.19% 
Shanghai Comp  2,481.08  +1.55  +0.06%  
Taiwan Wei...  7,367.29  +58.61 +0.80% 
Nikkei 225  8,514.47  +13.67 +0.16% 
Hang Seng  19,137.17  +173.28 +0.91%
Straits Times 2,790.94  +4.04  +0.14%  

http://finance.yahoo.com/news/stocks-surge-italy-greece-allay-185336762.html

*Stocks surge as Italy, Greece allay debt fears

Stocks surge, putting the Dow back above 12,000, after Italy passes key economic *

By Matthew Craft, AP Business Writer | AP


NEW YORK (AP) -- Stocks surged Friday, erasing their losses for the week, after Italy and Greece moved closer to getting their financial crises under control. The Dow Jones industrial average jumped back above 12,000. 

Italy's benchmark stock index leapt 3.7 percent and its borrowing costs plunged after the country's Senate passed a crucial austerity budget demanded by the European Union. Other European stock markets and the euro also pushed higher as investors became more confident that Italy would avoid a fiscal disaster. 

The passage clears the way for Italian Premier Silvio Berlusconi to step down. Berlusconi was widely considered an obstacle to serious economic reforms. The yield on Italy's benchmark two-year bond dropped 0.43 percentage point to 5.69 percent. That's a sign bond investors think Italy will succeed in managing its massive debt load. 

The Dow Jones industrial average jumped 259.89 points, or 2.2 percent, to 12,153.68. It closed below 12,000 the previous two days. Friday's rally pushed the Dow up 1.4 percent for the week. 

Together with a 112-point gain the day before, the Dow has now made up most of the 389-point plunge it took on Wednesday. That sell-off was triggered by a spike in Italy's borrowing costs and a breakdown in talks to name a new prime minister in Greece. 

In Greece, too, there was good news for the markets Friday. Lucas Papademos, a former central banker, was sworn in as interim prime minister. Lucas Papademos took over a coalition government after a two-week political crisis that jeopardized the country's ability to continue receiving emergency loans. 

Plenty of uncertainty still hangs over financial markets. Brian Gendreau, senior investment strategist at Cetera Financial Group, noted that the VIX index is still above 30, a sign that traders expect stocks to stay volatile. 

Gendreau expects the S&P 500 to trade in a range of 1,200 to 1,275 until Europe's debt crisis gets closer to resolution and the U.S. Congress signs off on a larger debt-cutting plan. A supercommittee in Congress has until Nov. 23 to agree on a deficit-reduction package of at least $1.2 trillion over a decade. 

"We still don't have a real resolution on either side of the Atlantic," Gendreau said. 

The S&P 500 rose 24.16, or 1.9 percent, to 1,263.85. Only 13 of the 500 stocks in the S&P fell. Technology and materials companies had the biggest gains. 

Walt Disney Co. jumped 6 percent. The company reported record annual profits and revenues after the market closed Thursday, thanks to stronger advertising sales at ESPN and the Disney Channel. 

The Nasdaq composite rose 53.60, or 2 percent, to 2,678.75. 

In other corporate news: 

— D.R. Horton Inc. returned to a quarterly profit as more people bought houses. But the builder's earnings and revenue fell below what analysts had expected. D.R. Horton's stock dropped 1.7 percent. 

— Nordstrom Inc. also reported stronger quarterly profit late Thursday. But the retailer lowered its full-year profit outlook below what analysts expected. Its stock fell 0.3 percent. 

— Viacom Inc., the parent of Nickelodeon, said it will move its stock listing to the Nasdaq Stock Market from the New York Stock Exchange next month because it's more "cost effective." The company's class B stock rose 3 percent. 

— E-Trade Financial Corp. sank 4.1 percent. The online broker said late Thursday that it had decided against putting itself up for sale. E-Trade's largest shareholder, the hedge fund Citadel Advisors, had been pushing for a sale. 

U.S. bond trading was closed for Veterans Day. 

Five stocks rose for every one that fell on the New York Stock Exchange. Volume was light at 3.3 billion shares.

8407


----------



## noirua

No 1 International thread; I hope you have just a minute to vote for your favourite forum at: http://www.thebull.com.au/the_stockies/forums.html


----------



## bigdog

Source: http://finance.yahoo.com

The stock market fell Monday after a jump in Italy's borrowing costs reminded investors of how much work remains to be done to contain Europe's debt problems.

The Dow Jones industrial average lost nearly 75 points. European markets also fell and the euro weakened against the dollar.

Major indexes closed higher last week as Greece and Italy took steps toward getting their debt troubles under control. New governments are taking over in both countries, which are at the center of the crisis.

But worrisome signs about Europe re-emerged Monday. The Italian government had to pay the highest rate at an auction of five-year bonds since 1997. That's a sign investors are still concerned about Italy's ability to repay its debts. And Italy's biggest bank, Unicredit, reported a $14.4 billion loss.

"The problems these countries are dealing with go well beyond their prime ministers," said Dan Greenhaus, chief global strategist at the brokerage BTIG. "Italy didn't get where it is in five minutes. And it's not going to get out of where it is in five minutes. This is going to take months."

The Dow fell 74.70 points, or 0.6 percent, to close at 12,078.98. Bank of America Corp. fell 2.6 percent and JPMorgan Chase & Co. fell 2.2 percent, the largest drops among the 30 large companies in the Dow.

The Standard & Poor's 500 index fell 12.06 points, or 1 percent, to 1,251.79. The Nasdaq composite index fell 21.53, or 0.8 percent, to 2,657.22.

Three stocks fell for every one that rose on the New York Stock Exchange. Volume was very light at 3 billion shares.

*The NYSE DOW NYSE DOW closed -74.70   points LOWER or  -0.61%  on Monday November 14*
Sym .......Last .......Change..........
Dow  12,078.98  -74.70 -0.61% 
Nasdaq  2,657.22  -21.53 -0.80% 
S&P 500  1,251.78  -12.07 -0.96% 
30-yr Bond  3.0900 % -0.0180  

NYSE Volume  3,075,400,750  
Nasdaq Volume  1,398,959,750  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 	5,519.04 	-26.34	-0.47%
CAC 40 3,108.95 -40.43 -1.28%
DAX 5,985.02 -72.01 -1.19%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,369.10  +10.50 +0.24% 
Shanghai Comp  2,528.71  +47.63 +1.92% 
Taiwan Wei...  7,525.65  +158.36 +2.15% 
Nikkei 225  8,603.70  +89.23 +1.05% 
Hang Seng  19,508.18  +371.01 +1.94% 
Straits Times 2,830.14   +39.20 +1.40% 

http://news.yahoo.com/stocks-slip-italian-bond-sale-renews-euro-fears-202344934.html

*Stocks slip as Italian bond sale renews euro fears*

By MATTHEW CRAFT - AP Business Writer

NEW YORK (AP) ”” The stock market fell Monday after a jump in Italy's borrowing costs reminded investors of how much work remains to be done to contain Europe's debt problems.

The Dow Jones industrial average lost nearly 75 points. European markets also fell and the euro weakened against the dollar.

Major indexes closed higher last week as Greece and Italy took steps toward getting their debt troubles under control. New governments are taking over in both countries, which are at the center of the crisis.

But worrisome signs about Europe re-emerged Monday. The Italian government had to pay the highest rate at an auction of five-year bonds since 1997. That's a sign investors are still concerned about Italy's ability to repay its debts. And Italy's biggest bank, Unicredit, reported a $14.4 billion loss.

"The problems these countries are dealing with go well beyond their prime ministers," said Dan Greenhaus, chief global strategist at the brokerage BTIG. "Italy didn't get where it is in five minutes. And it's not going to get out of where it is in five minutes. This is going to take months."

The Dow fell 74.70 points, or 0.6 percent, to close at 12,078.98. Bank of America Corp. fell 2.6 percent and JPMorgan Chase & Co. fell 2.2 percent, the largest drops among the 30 large companies in the Dow.

The Standard & Poor's 500 index fell 12.06 points, or 1 percent, to 1,251.79. The Nasdaq composite index fell 21.53, or 0.8 percent, to 2,657.22.

Three stocks fell for every one that rose on the New York Stock Exchange. Volume was very light at 3 billion shares.

Stocks have risen since early October on encouraging signs of progress in containing Europe's debt crisis, stronger U.S. corporate earnings and better news on the U.S. economy. The S&P 500 has soared 13.7 percent since hitting its low for the year on Oct. 3.

That surge has drawn big investors back into the stock market and opened the door to a long line of companies waiting to go public. The flow of money from institutions into U.S. stock funds hit $7.3 billion last week, the third largest tally this year, according to fund tracker EPFR Global.

Angie's List, a customer review website, Delphi Automotive and seven other companies are scheduled to go public this week. If they all wind up going through, it would be the biggest week for IPOs in four years, according to Renaissance Capital, an IPO advisory firm.

In corporate news, the airline Emirates placed an order for 50 Boeing 777s, one of the largest orders ever placed with the aircraft maker. Boeing Co. also picked up a new customer, Oman Air, which ordered six 787s. Boeing rose 1.5 percent.

J.C. Penney Co. fell 2.8 percent after reporting a quarterly loss. The department store operator said its results were weighed down by restructuring costs. The company also lowered its earnings outlook for the rest of the year.

Lowe's Cos. rose 1.7 percent after the country's second-largest home-improvement retailer reported revenue and earnings that beat analysts' expectations.

The Dow has made gains in six of the past 7 weeks, and is still up 1 percent for the month. The S&P 500 and the Nasdaq are slightly lower.

No major economic reports came out Monday


----------



## bigdog

Source: http://finance.yahoo.com

A day of broad swings in the stock market ended with modest gains Tuesday, as investors balanced an increase in U.S. retail sales with Europe's lingering debt crisis. The Dow Jones industrial average gained 17 points.

The Dow ping-ponged between gains and losses for much of the day. It had been down as many as 78 at noon and up as much as 86 points during a late afternoon rally that fizzled just before the market closed.

Technology stocks had the biggest gains. Intel Corp. rose 2.9 percent a day after Warren Buffett revealed that his company, Berkshire Hathaway Inc., had bought a stake in the company. Hewlett-Packard Co. rose 3.4 percent, the most among the 30 stocks in the Dow.

Americans spent more on autos, electronics and building supplies in October, raising retail sales for a fifth straight month. Sales increased 0.5 percent from the previous month, a faster rate than economists expected and the latest indication that the U.S. economy is likely to avoid another recession.

The retail sales report helped the U.S. stock market "show a certain degree of resilience in the wake of the negative headlines out of Europe," said Todd Salamone, director of research at Schaeffer's Investment Research.

But Europe's debt woes continued to weigh on markets. Higher interest rates on government debt issued by Italy, Spain and other countries rattled European stock markets Tuesday. The interest rate on Italy's 10-year bond jumped back above 7 percent, a dangerously high level. When that rate crossed the 7 percent threshold last week, it raised worries about Italy's ability to manage its debts. Greece, Ireland and Portugal had to get rescued by international lenders when their borrowing rates crossed the same level.

The Dow rose 17.18 points, or 0.1 percent, to 12,096.16. The S&P 500 gained 6.02, or 0.5 percent, to 1,257.81. The Nasdaq added 28.98, or 1.1 percent, to 2,686.20.

*The NYSE DOW NYSE DOW closed +17.18 points HIGHER or +0.14% on Tuesday November 15*
Sym .......Last .......Change..........
Dow     12,096.16      +17.18      +0.14% 
Nasdaq     2,686.20     +28.98     +1.09% 
S&P 500     1,257.81006     +6.03     +0.48% 
30-yr Bond     3.10     +0.00     +0.16% 

NYSE Volume   	3,601,243.00
Nasdaq Volume 	1,709,014.75

*Europe*
Symbol... ......Last .....Change.......
FTSE 100   	5,517.44  	-1.60	-0.03%
CAC 40	3,049.13  -59.82  -1.92%
DAX	5,933.14  -51.88  -0.87% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 	4,351.50 	-17.60 	-0.40%
Shanghai Comp 	2,529.76 	+1.05 	+0.04%
Taiwan Wei... 	7,491.06 	-34.59 	-0.46%
NIKKEI 225 	8,541.93 	-61.77 	-0.72% 	
STI 	2,811.58 	-18.56 	-0.66% 	
HANG SENG INDEX 	19,348.44 	-159.74 	-0.82%

http://finance.yahoo.com/news/stock...RhaWQDBHBzdGNhdANuZXdzBHB0A3NlY3Rpb25z;_ylv=3

*Stocks edge higher on retail gains; Dow rises 17

Dow, S&P notch modest gains after retail sales surprise; Intel, other tech stocks gain most*

By David k. Randall, AP Business Writers 

NEW YORK (AP) -- A day of broad swings in the stock market ended with modest gains Tuesday, as investors balanced an increase in U.S. retail sales with Europe's lingering debt crisis. The Dow Jones industrial average gained 17 points.

The Dow ping-ponged between gains and losses for much of the day. It had been down as many as 78 at noon and up as much as 86 points during a late afternoon rally that fizzled just before the market closed.

Technology stocks had the biggest gains. Intel Corp. rose 2.9 percent a day after Warren Buffett revealed that his company, Berkshire Hathaway Inc., had bought a stake in the company. Hewlett-Packard Co. rose 3.4 percent, the most among the 30 stocks in the Dow.

Americans spent more on autos, electronics and building supplies in October, raising retail sales for a fifth straight month. Sales increased 0.5 percent from the previous month, a faster rate than economists expected and the latest indication that the U.S. economy is likely to avoid another recession.

The retail sales report helped the U.S. stock market "show a certain degree of resilience in the wake of the negative headlines out of Europe," said Todd Salamone, director of research at Schaeffer's Investment Research.

But Europe's debt woes continued to weigh on markets. Higher interest rates on government debt issued by Italy, Spain and other countries rattled European stock markets Tuesday. The interest rate on Italy's 10-year bond jumped back above 7 percent, a dangerously high level. When that rate crossed the 7 percent threshold last week, it raised worries about Italy's ability to manage its debts. Greece, Ireland and Portugal had to get rescued by international lenders when their borrowing rates crossed the same level.

The Dow rose 17.18 points, or 0.1 percent, to 12,096.16. The S&P 500 gained 6.02, or 0.5 percent, to 1,257.81. The Nasdaq added 28.98, or 1.1 percent, to 2,686.20.

The prices of assets commonly used as havens from market turmoil, like U.S. government debt and gold, held steady. The yield on the benchmark 10-year Treasury note edged up to 2.05 percent from 2.04 percent late Monday. The yield has been below 2.10 percent all month, a sign of strong demand. Gold rose $3.80 to $1,782.20 an ounce.

In corporate news, sales at Staples Inc. fell short of analysts' expectations, and the company also cut its earnings forecast for the year. Its stock dropped 3.6 percent. Department store chain Saks Inc. rose 1.7 percent after reporting stronger sales. Dell Inc. fell 2 percent in after-hours trading after the company missed Wall Street's revenue forecasts.

Trading volume was light; 3.5 billion shares were traded on the New York Stock Exchange, well below the average of 4.4 billion over the past 200 days.


----------



## bigdog

Source: http://finance.yahoo.com

A warning from Fitch Ratings that large U.S. banks could be hit hard if Europe's debt crisis spreads sent stocks on a downward spiral late Wednesday. 

U.S. indexes were moving between small gains and losses before Fitch released its report around 3:15 p.m. Eastern time. The Dow was down just 36 points with an hour of trading left, then plunged to end the day down 190. 

Fitch, one of the three main credit ratings agencies besides S&P and Moody's, said in its report that U.S. banks could be "greatly affected" if Europe's debt crisis continues to spread beyond the financially distressed countries of like Greece, Ireland, Italy, Portugal and Spain. 

Large banks took a late afternoon dive. Bank of America Corp. and JPMorgan Chase & Co. each lost 3.7 percent. Goldman Sachs dropped 4.1 percent and Morgan Stanley 7.9 percent. 

"This is a long-running, slow developing story," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. U.S. stocks had rallied in the past week as new governments took over in Greece and Italy and promised to implement budget reforms. It's a familiar pattern, Ablin said. "It seems like it's always one step forward and two steps back." 

The Dow Jones industrial average closed at 11,905.59, a loss of 190.57, or 1.6 percent. It was the Dow's first close below 12,000 since last Thursday. 

The Standard & Poor's 500 index fell 20.89 points, or 1.7 percent, to 1,236.92. The Nasdaq composite lost 46.59, or 1.7 percent, to 2,639.61. 

Concerns that the debt troubles of Greece and Italy could spread have been driving the borrowing rates of France higher on bond markets since the beginning of November. The benchmark borrowing rate on France's 10-year bonds was just 2.54 percent on Oct. 5 but has risen steadily since then, reaching 3.69 percent Wednesday. That's a sign investors worry that France might be in danger of losing its top-drawer triple-A credit rating. 

*The NYSE DOW NYSE DOW closed -190.57   points  LOWER or  -1.58%  on Wednesday November 16*
Sym .......Last .......Change..........
Dow 	11,905.59 	-190.57	-1.58%
Nasdaq 	2,639.61 	-46.59	-1.73%
S&P 500 	1,236.91 	-20.90	-1.66%
30-yr Bond 	3.0600%	-0.0420

NYSE Volume 	4,035,975,750
Nasdaq Volume 	1,957,676,750

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 	5,509.02 	-8.42	-0.15%
CAC 40 3,064.90   +15.77 +0.52% 
DAX 5,913.36  -19.78 -0.33% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,313.80  -37.70 -0.87% 
Shanghai Comp  2,466.96   -62.80 -2.48% 
Taiwan Wei...  7,387.52  -103.54 -1.38 
Nikkei 225  8,463.16  -78.77 -0.92% 
Hang Seng  18,960.90  -387.54 -2.00% 
Straits Times  2,807.44   -4.14 -0.15% 

http://finance.yahoo.com/news/Stocks-sink-Fitch-warns-US-apf-3392363806.html?x=0&l=1

*Stocks sink after Fitch warns on US bank exposure

Stocks take a late slide as a Fitch report on US bank exposure sets off more Europe jitters*

By David k. Randall, AP Business Writer 


NEW YORK (AP) -- A warning from Fitch Ratings that large U.S. banks could be hit hard if Europe's debt crisis spreads sent stocks on a downward spiral late Wednesday. 

U.S. indexes were moving between small gains and losses before Fitch released its report around 3:15 p.m. Eastern time. The Dow was down just 36 points with an hour of trading left, then plunged to end the day down 190. 

Fitch, one of the three main credit ratings agencies besides S&P and Moody's, said in its report that U.S. banks could be "greatly affected" if Europe's debt crisis continues to spread beyond the financially distressed countries of like Greece, Ireland, Italy, Portugal and Spain. 

Large banks took a late afternoon dive. Bank of America Corp. and JPMorgan Chase & Co. each lost 3.7 percent. Goldman Sachs dropped 4.1 percent and Morgan Stanley 7.9 percent. 

"This is a long-running, slow developing story," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. U.S. stocks had rallied in the past week as new governments took over in Greece and Italy and promised to implement budget reforms. It's a familiar pattern, Ablin said. "It seems like it's always one step forward and two steps back." 

The Dow Jones industrial average closed at 11,905.59, a loss of 190.57, or 1.6 percent. It was the Dow's first close below 12,000 since last Thursday. 

The Standard & Poor's 500 index fell 20.89 points, or 1.7 percent, to 1,236.92. The Nasdaq composite lost 46.59, or 1.7 percent, to 2,639.61. 

Concerns that the debt troubles of Greece and Italy could spread have been driving the borrowing rates of France higher on bond markets since the beginning of November. The benchmark borrowing rate on France's 10-year bonds was just 2.54 percent on Oct. 5 but has risen steadily since then, reaching 3.69 percent Wednesday. That's a sign investors worry that France might be in danger of losing its top-drawer triple-A credit rating. 

For the moment, Fitch said the risks to U.S. banks from Europe appeared to be "manageable," however investors have been quick to respond to even seemingly minor negative news about how Europe's debt woes might affect the rest of the global financial system. 

Fitch said the top five U.S. banks have a total of $114 billion in loans, deposits and other assets tied to French banks. French banks are also large holders of bonds issued by Greece and Italy. 

Stock indexes had wavered between gains and losses earlier Wednesday as the price of oil crossed above $100 a barrel for the first time since July. 

The jump in the price of crude could weaken the already U.S. fragile economy by raising costs for gasoline, heating oil and airline fuel. Oil futures jumped 3 percent to $102 a barrel as U.S. supplies dropped and a new pipeline deal by a Canadian company threatened to cut them even more. 

U.S. economic reports were mixed. Output at the nation's factories, utilities and mines rose at the fastest pace in three months in October, the Federal Reserve said. Production of autos and parts surged 3.1 percent. 

Consumer prices largely held steady last month. The Consumer Price Index dropped 0.1 percent in October, led by a steep decline in gas prices. An index of builder sentiment rose to the highest level since May 2010, but is still well below a level consistent with a strong housing market. 

In corporate news, Abercrombie & Fitch Co. plunged 13.6 percent after the company reported earnings that fell far short of Wall Street's expectations. The company said rising costs for cotton and other commodities cut into profits. 

Dell Inc. dropped 3.2 percent after the company said late Tuesday that its revenues will be held back by an industry-wide shortage of hard drives.


----------



## bigdog

Source: http://finance.yahoo.com

A spike in borrowing costs for the Spanish government renewed worries about Europe's debt crisis and pushed stocks lower for the second day in a row. 

A stalemate in Congress over cutting the budget deficit also pulled the market down Thursday. Technology stocks sank after NetApp and Applied Materials predicted weaker earnings. 

In Spain, an auction of 10-year bonds left the country paying interest rates of nearly 7 percent, the highest rate since 1997. Economists see that level as unsustainable because it would make the interest payments on Spain's debt so high that the government would barely be able to afford them. Greece and Ireland were forced to seek rescue loans from the European Union after their bond yields jumped above the same level. 

Concerns about Europe's debt crisis overshadowed better economic reports in the U.S. The number of people seeking unemployment benefits last week fell to the lowest level in 7 months, a sign layoffs are easing. 

"The economic data in the U.S. has been improving," said Michael Sheldon, chief market strategist at RDM Financial in Westport, Conn. "If it weren't for Europe, I think equity markets would be doing much better right now." 

The Dow Jones industrial average dropped 134.86 points, or 1.1 percent, to close at 11,770.73. The index wavered most of the morning, then turned sharply lower shortly after noon. It fell as many as 229 points at 2:30 p.m. 

Spain has more than twice the amount of debt as Greece and Ireland combined, which would make it difficult for other countries to rescue. Like Italy, whose main borrowing rate also spiked above 7 percent in the last week, the country is trying to pay down its debts as its economy slows. 

*The NYSE DOW NYSE DOW closed  -134.86   points  LOWER or  -1.13%  on Thursday November 17*
Sym .......Last .......Change..........
Dow  11,770.73  -134.86 -1.13% 
Nasdaq  2,587.99  -51.62 -1.96% 
S&P 500  1,216.13  -20.78 -1.68% 
30-yr Bond  2.9750 % -0.08 

NYSE Volume  4,596,486,000  
Nasdaq Volume  2,225,310,000

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,423.14  -85.88 -1.56% 
CAC 40 3,010.29 -54.61 -1.78%
DAX 5,850.17 -63.19 -1.07% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,324.10  +10.30 +0.24%  
Shanghai Comp  2,463.05  -3.91  -0.16%  
Taiwan Wei...  7,387.81  +0.29 +0.00% 
Nikkei 225  8,479.63  +16.47 +0.19%  
Hang Seng  18,817.47  -143.43 -0.76%
STI 2,778.25  -29.19  -1.04% 

http://finance.yahoo.com/news/Stocks-sink-Spain-becomes-apf-2590190128.html?x=0&l=1

*Stocks sink; Spain becomes latest worry in Europe

Indexes sink in the afternoon; Spiking bond yields in Spain renew worries about European debt*

By David k. Randall, AP Business Writers 


NEW YORK (AP) -- A spike in borrowing costs for the Spanish government renewed worries about Europe's debt crisis and pushed stocks lower for the second day in a row. 

A stalemate in Congress over cutting the budget deficit also pulled the market down Thursday. Technology stocks sank after NetApp and Applied Materials predicted weaker earnings. 

In Spain, an auction of 10-year bonds left the country paying interest rates of nearly 7 percent, the highest rate since 1997. Economists see that level as unsustainable because it would make the interest payments on Spain's debt so high that the government would barely be able to afford them. Greece and Ireland were forced to seek rescue loans from the European Union after their bond yields jumped above the same level. 

Concerns about Europe's debt crisis overshadowed better economic reports in the U.S. The number of people seeking unemployment benefits last week fell to the lowest level in 7 months, a sign layoffs are easing. 

"The economic data in the U.S. has been improving," said Michael Sheldon, chief market strategist at RDM Financial in Westport, Conn. "If it weren't for Europe, I think equity markets would be doing much better right now." 

The Dow Jones industrial average dropped 134.86 points, or 1.1 percent, to close at 11,770.73. The index wavered most of the morning, then turned sharply lower shortly after noon. It fell as many as 229 points at 2:30 p.m. 

Spain has more than twice the amount of debt as Greece and Ireland combined, which would make it difficult for other countries to rescue. Like Italy, whose main borrowing rate also spiked above 7 percent in the last week, the country is trying to pay down its debts as its economy slows. 

The Spanish bond auction came a day after Fitch Ratings warned that major U.S. banks could be "greatly affected" if Europe's debt crisis continues to spread beyond the financially troubled Greece, Ireland, Portugal, Italy and Spain. 

Another looming concern for investors is that a Congressional supercomittee will fail to agree on $1.2 trillion in budget cuts before a Nov. 23 deadline. If they don't, huge cuts to government spending are scheduled to kick in across the board. 

"I get the impression we're watching a slow-motion train wreck," said Phil Orlando, chief equity market strategist at Federated Investors. 

The Standard & Poor's 500 index lost 20.75, or 1.7 percent, to 1,216.16. The index fell below its average over the past 100 days. That's a bearish signal because many traders wait until indexes fall below such technical levels before deciding to unload their positions. 

Technology stocks fell more than the rest of the market. The Nasdaq slid 51.62, or 2 percent, to 2,587.99. All three major indexes are now down more than 3 percent for the week. 

NetApp Inc. plunged 12.3 percent, the most in the S&P 500 index, after the data storage company forecast earnings below Wall Street's estimates. Applied Materials Inc. also said its earnings for the current quarter would be weaker than analysts' forecasts. The stock fell 7.5 percent. 

In corporate news: 

”” Consumer review site Angie's List soared 25 percent on the company's first day of trading. Angie's List Inc., which runs reviews of veterinarians, plumbers and other local services, priced its initial public offering of 8.8 million shares at $13 late Wednesday. 

”” The mutual fund company Legg Mason Inc. said the well-known money manager Bill Miller will step down from its flagship mutual fund next year. Legg Mason's stock dropped 2.8 percent. 

”” Sears Holdings Corp. fell 4.6 percent after its third-quarter results missed Wall Street's expectations. The retailer's sales were dragged down by declining consumer electronics sales and softer sales at its Kmart stores. 

”” J.M. Smucker Co. lost 1.8 percent after reporting that rising costs for ingredients were cutting into profits.


----------



## bigdog

Source: http://finance.yahoo.com

U.S. stock indexes mostly rose early Friday on a strong report on future economic activity and signals that fiscal pressure on some European countries is easing. 

The Conference Board said its index of leading economic indicators rose 0.9 percent last month, better than Wall Street estimates and the 0.1 percent increase it had in September. 

Borrowing costs for Italy and Spain declined, a signal that bond investors are less fearful of a default by those countries. 

The Dow Jones industrial average rose 29 points, or 0.3 percent, to 11,800 in the first half-hour of trading. The Standard & Poor's 500 index rose 2, or 0.1 percent, to 1,218. The Nasdaq composite index fell 6, or 0.2 percent, to 2,582. 

Spain and Italy have had to pay high interest rates because bondholders fear that that they will default. Holders of Greek bonds were all but forced to take steep losses on that nation's debt. 

Fears about the European crisis sent stocks lower this week. Even nations with relatively strong finances, such as France, are being forced to pay higher interest rates. 

Uncertainty about Europe persisted on Friday after comments by German and British leaders suggested that they have divergent views on how to address the debt crisis. German Chancellor Angela Merkel cautioned against expecting too much from the region's leaders. British Prime Minister David Cameron called for "decisive action" to shore up the struggling currency union. 

*The NYSE DOW NYSE DOW closed  +25.43 points  HIGHER or +0.22%    on Friday November 18*
Sym .......Last .......Change..........
Dow  11,796.16  +25.43 +0.22% 
Nasdaq  2,572.50  -15.49 -0.60% 
S&P 500  1,215.65  -0.48 -0.04% 
30-yr Bond  3.0000% +0.0210  

NYSE Volume  3,827,603,250  
Nasdaq Volume  1,757,468,000  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,362.94  -60.20 -1.11% 
DAX 5,800.24  -49.93  -0.85% 
CAC 40 2,997.01  -13.28  -0.44% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,246.70  -77.40 -1.79% 
Shanghai Comp  2,416.56  -46.48  -1.89%  
Taiwan Wei...  7,233.78  -154.03 -2.08% 
Nikkei 225  8,374.91  -104.72 -1.23% 
Hang Seng  18,491.23  -326.24 -1.73% 
Straits Times 2,730.34  -47.91  -1.72% 

http://finance.yahoo.com/news/stocks-mostly-rise-mixed-signals-152045349.html

*Stocks mostly rise; mixed signals from Europe

US stocks open mixed as pressure on Italy, Spain eases; solution for Europe remains elusive*

By Daniel Wagner, AP Business Writer 

U.S. stock indexes mostly rose early Friday on a strong report on future economic activity and signals that fiscal pressure on some European countries is easing. 

The Conference Board said its index of leading economic indicators rose 0.9 percent last month, better than Wall Street estimates and the 0.1 percent increase it had in September. 

Borrowing costs for Italy and Spain declined, a signal that bond investors are less fearful of a default by those countries. 

The Dow Jones industrial average rose 29 points, or 0.3 percent, to 11,800 in the first half-hour of trading. The Standard & Poor's 500 index rose 2, or 0.1 percent, to 1,218. The Nasdaq composite index fell 6, or 0.2 percent, to 2,582. 

Spain and Italy have had to pay high interest rates because bondholders fear that that they will default. Holders of Greek bonds were all but forced to take steep losses on that nation's debt. 

Fears about the European crisis sent stocks lower this week. Even nations with relatively strong finances, such as France, are being forced to pay higher interest rates. 

Uncertainty about Europe persisted on Friday after comments by German and British leaders suggested that they have divergent views on how to address the debt crisis. German Chancellor Angela Merkel cautioned against expecting too much from the region's leaders. British Prime Minister David Cameron called for "decisive action" to shore up the struggling currency union. 

News from Europe has generally overshadowed stronger economic news in the U.S. Far fewer people applied for unemployment benefits last week, the government said Thursday. Factory output in October rose by the most since July. 

European stocks fell in volatile trading after a week of political and financial upheaval caused by the debt crisis. The regional Stoxx 50 index lost 0.9 percent, and London's FTSE 100 fell 1.2 percent. Italy's FTSE MIB was nearly flat, reversing earlier gains. 

European stocks have been battered by fears that Spain and Italy will succumb to the same pressures that forced Greece, Ireland and Portugal to accept international bailouts. Greece's lenders were all but forced to write off half the value of Greek bonds that they hold. 

The island nation of Cyprus said Friday that it will need a bailout from European neighbors unless its government can pass much-tougher spending cuts and tax hikes. 

Traders fear the more countries will follow Greece into default. Borrowing costs for Italy and Spain are as approaching levels that forced smaller nations to accept bailouts. Many fear that international lenders lack the resources or political will to bail out nations as large as Italy and Spain. 

Europe's economy is barely growing, and might already be in recession. Governments there have imposed steep austerity measures to reduce their crippling debts. As governments spend less, the economic situation grows more dire. 

Ketchup maker H.J. Heinz Co. fell 2.5 percent after it said its second-quarter net income fell almost 6 percent, although its adjusted results narrowly beat expectations. Sales in emerging markets remained strong, and price hikes in other areas helped offset lower volumes.

8883


----------



## bigdog

Source: http://finance.yahoo.com

The stock market was not exactly surprised that a so-called supercommittee in Congress failed to reach a deal to cut the federal budget deficit. But since summer, investors have sold at the first hint of trouble.

So on Monday, they sold big. The Dow Jones industrial average lost almost 250 points on a day when investors despaired over debt problems at home and abroad.

Members of the special committee, created in August to come up with $1.2 trillion in deficit cuts over 10 years, indicated all day that there would be no deal. After the market closed, the committee's bipartisan leadership made it official.

"They're essentially giving up," said Robert Robis, head of fixed income macro strategies at ING Investment Management.

The supercommittee stalemate is supposed to trigger automatic spending cuts across the government, but there were already hints that Congress would find a way around them. Analysts say that could lead to another downgrade of the U.S. credit rating.

In addition, the failure raises the question of how a gridlocked Congress will find a way to renew a cut in the Social Security tax or agree on whether to extend long-term unemployment benefits.

Congress passed the tax cut last December for one year, and some lawmakers support extending it through 2012 because economic growth remains weak. Both measures would put cash in the pockets of Americans, who can spend it and help the economy grow.

The stalemate also shows lawmakers may not be able to make progress on anything budget-related in the coming months, said Robert Pavlik, chief market strategist with Banyan Partners LLC in New York.

"It shows that there's a bigger problem at hand, and if they can't work to resolve these relatively small yet meaningful issues, what's going to happen if we get into a situation like Europe is in?" he said. "And we're kind of headed there."

The result was another day of heavy selling in a market that has grown used to big swings. The Dow finished down 248.85 points, or 2.1 percent, at 11,547.31. At its low point of the day, the Dow was down 342.

*The NYSE DOW NYSE DOW closed -248.85  points   LOWER or -2.11%   on Monday November 21*
Sym .......Last .......Change..........
Dow  11,547.31  -248.85 -2.11% 
Nasdaq  2,523.14  -49.36 -1.92% 
S&P 500  1,192.98  -22.67 -1.86% 
30-yr Bond  2.9400 % -0.0510  

NYSE Volume  4,050,063,750  
Nasdaq Volume  2,063,252,500  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,222.60  -140.34 -2.62% 
DAX 5,606.00  -194.24  -3.35% 
CAC 40 2,894.94  -102.07  -3.41% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,233.60  -13.10 -0.31% 
Shanghai Comp  2,415.13  -1.43  -0.06% 
Taiwan Wei...  7,042.64  -191.14 -2.64% 
Nikkei 225  8,348.27  -26.64 -0.32% 
Hang Seng  18,225.85  -265.38 -1.44% 
Straits Times 2,697.98  -32.36  -1.19% 

http://news.yahoo.com/supercommittee-sell-off-dow-loses-almost-250-221442632.html

*The supercommittee sell-off: Dow loses almost 250* 

By DANIEL WAGNER and MATTHEW CRAFT 

NEW YORK (AP) — The stock market was not exactly surprised that a so-called supercommittee in Congress failed to reach a deal to cut the federal budget deficit. But since summer, investors have sold at the first hint of trouble.

So on Monday, they sold big. The Dow Jones industrial average lost almost 250 points on a day when investors despaired over debt problems at home and abroad.

Members of the special committee, created in August to come up with $1.2 trillion in deficit cuts over 10 years, indicated all day that there would be no deal. After the market closed, the committee's bipartisan leadership made it official.

"They're essentially giving up," said Robert Robis, head of fixed income macro strategies at ING Investment Management.

The supercommittee stalemate is supposed to trigger automatic spending cuts across the government, but there were already hints that Congress would find a way around them. Analysts say that could lead to another downgrade of the U.S. credit rating.

In addition, the failure raises the question of how a gridlocked Congress will find a way to renew a cut in the Social Security tax or agree on whether to extend long-term unemployment benefits.

Congress passed the tax cut last December for one year, and some lawmakers support extending it through 2012 because economic growth remains weak. Both measures would put cash in the pockets of Americans, who can spend it and help the economy grow.

The stalemate also shows lawmakers may not be able to make progress on anything budget-related in the coming months, said Robert Pavlik, chief market strategist with Banyan Partners LLC in New York.

"It shows that there's a bigger problem at hand, and if they can't work to resolve these relatively small yet meaningful issues, what's going to happen if we get into a situation like Europe is in?" he said. "And we're kind of headed there."

The result was another day of heavy selling in a market that has grown used to big swings. The Dow finished down 248.85 points, or 2.1 percent, at 11,547.31. At its low point of the day, the Dow was down 342.

Volatility seized the stock market in late July, when Congress was wrestling with whether to raise the limit on how much the federal government can borrow.

The Dow rose or fell 100 points or more on 15 trading days in August, 16 in September and 15 in October. Monday was its 10th triple-digit move this month, with six trading days to go.

"People are getting so short-term oriented now that all they know is how to make day trades," he said.

The selling swung the Dow from a gain for the year to a loss, the first time that has happened in a month.

In Europe, Moody's, a prominent ratings agency, warned that France could face a downgrade because the debt crisis in Europe has pushed borrowing costs higher for the French government. For now, France has a rating of AAA, the best.

One European country after another has fallen into crisis because of debt. Wary of the ability of countries to pay back their loans, bond investors have insisted on higher returns on national bonds, pushing borrowing costs to dangerous levels.

Stock indexes fell 3.4 percent in both Germany and France — bigger declines than in the United States. Germany and France are the two largest economies in Europe.

Investors still see American debt as safe, despite the failure of the supercommittee. On Monday, the yield on the benchmark 10-year Treasury note fell to 1.97 percent. It traded at 2.01 percent late Friday.

Bond yields move down when bond prices go up. The higher demand for U.S. bonds Monday was a sign that investors believe in their safety.

The Standard & Poor's 500 index dropped 22.67, or 1.9 percent, to 1,192.98. The S&P 500 fell 3.8 percent last week, its worst since September. The Nasdaq composite index declined 49.36, or 1.9 percent, to 2,523.14.

Last week's steepest falls were Wednesday and Thursday, after Fitch, another ratings agency, warned that the European debt crisis could hit the largest American banks. The S&P 500 is down more than 5 percent for the year. On Nov. 15, it was still up slightly.

The declines Monday were broad. Energy and technology stocks lost the most. All 30 stocks in the Dow average fell, led by Boeing Co. with a 4.7 percent decline. The dollar rose along with U.S. Treasury prices.

Gilead Sciences Inc. stock plunged 9 percent, the most in the S&P 500. The company plans to buy drug developer Pharmasset Inc. for $11 billion. Pharmasset, which has an experimental hepatitis C drug in late-stage clinical trials, jumped almost 85 percent.

Alleghany Corp. fell almost 7 percent after the property and casualty insurer said it had agreed to buy the reinsurance company Transatlantic Holdings Inc. for $3.4 billion. Transatlantic edged up almost 1 percent.

Irish electronics company Cooper Industries PLC bucked the market trend, rising 2.6 percent, after S&P said it will be added to the S&P 500 index. Stocks often rally when they are added to major indexes, because investment funds that mirror the indexes must buy them.


----------



## bigdog

Source: http://finance.yahoo.com

A downward revision of U.S. economic growth in the third quarter sent stocks lower Tuesday. Higher borrowing costs for Spain also renewed worries about Europe's debt crisis. 

The Commerce Department reported that the U.S. economy grew at a 2 percent annual rate from July through September, down from its initial estimate of 2.5 percent. Economists had expected the figure to remain the same. 

The Dow Jones industrial average lost 53.59 points, or 0.5 percent, to close at 11,493.72. Aluminum maker Alcoa Inc. led the Dow lower. The Dow had been down as many as 113 points shortly before noon. 

The Dow plunged 249 points Monday as a congressional committee failed to reach a deal to cut budget deficits. The deadlock raised fears that rating agencies might lower the U.S. government's credit rating if Congress tries to circumvent the automatic spending cuts that are supposed to occur in the event of an impasse. Some Republicans have said they would try to block cuts to defense spending. 

"Markets are looking for clarity, and you didn't get that from the super-committee," says Steven Ricchiuto, chief economist at Mizuho Securities. "There's no reason to believe the economy is going to get stronger." 

Across the Atlantic, there were more signs of trouble in Europe's debt crisis. Spain was forced to pay sharply higher interest rates in an auction of short-term debt. The higher rates suggest that investors are still skeptical that the country will get its budget under control despite a new, center-right government coming to power this week. 

Investors have been worried that Spain could become the next country to need financial support from its European neighbors if its borrowing rates climb to unsustainable levels. Greece was forced to seek relief from its lenders after its long-term borrowing rates rose above 7 percent on the bond market. The rate on Spain's own benchmark 10-year bond is dangerously close to that level, 6.58 percent. 

The Standard & Poor's 500 fell 4.94 points, or 0.4 percent, to 1,188.04. The Nasdaq composite fell 1.86, or 0.1 percent, to 2,521.28. 

It was the fifth straight decline for the S&P 500, the longest losing streak since August. The S&P has lost 5.5 percent over the past week on worries that Spain could get dragged into Europe's debt crisis and as Congress neared a deadlock over cutting the U.S. budget deficit. 

*The NYSE DOW NYSE DOW closed -53.59	 points   LOWER or	-0.46%   on Tuesday November 22*
Sym .......Last .......Change..........
Dow 	11,493.72 	-53.59	-0.46%
Nasdaq 	2,521.28 	-1.86	-0.07%
S&P 500 	1,188.04 	-4.94	-0.41%
30-yr Bond 	2.9100 %	-0.0350

NYSE Volume 	3,911,717,000
Nasdaq Volume 	1,798,200,125

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,206.82  -15.78 
DAX 5,537.39  -68.61  -1.22% 
CAC 40 2,870.68  -24.26  -0.84% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,204.20  -29.40 -0.69% 
Shanghai Comp 2,412.62  -2.50  -0.10% 
Taiwan Wei...  7,000.03  -42.61 -0.61% 
Nikkei 225  8,314.74  -33.53 -0.40%  
Hang Seng  18,251.59  +25.74 +0.14% 
Straits Times 2,717.20  +19.22  +0.71% 

http://finance.yahoo.com/news/stocks-slide-government-lowers-growth-211427931.html

*Stocks slide as government lowers growth estimate

Weaker estimate of US economic growth sends stocks lower; Spain's borrowing rates rise*

By Matthew Craft, AP Business Writer


NEW YORK (AP) -- A downward revision of U.S. economic growth in the third quarter sent stocks lower Tuesday. Higher borrowing costs for Spain also renewed worries about Europe's debt crisis. 

The Commerce Department reported that the U.S. economy grew at a 2 percent annual rate from July through September, down from its initial estimate of 2.5 percent. Economists had expected the figure to remain the same. 

The Dow Jones industrial average lost 53.59 points, or 0.5 percent, to close at 11,493.72. Aluminum maker Alcoa Inc. led the Dow lower. The Dow had been down as many as 113 points shortly before noon. 

The Dow plunged 249 points Monday as a congressional committee failed to reach a deal to cut budget deficits. The deadlock raised fears that rating agencies might lower the U.S. government's credit rating if Congress tries to circumvent the automatic spending cuts that are supposed to occur in the event of an impasse. Some Republicans have said they would try to block cuts to defense spending. 

"Markets are looking for clarity, and you didn't get that from the super-committee," says Steven Ricchiuto, chief economist at Mizuho Securities. "There's no reason to believe the economy is going to get stronger." 

Across the Atlantic, there were more signs of trouble in Europe's debt crisis. Spain was forced to pay sharply higher interest rates in an auction of short-term debt. The higher rates suggest that investors are still skeptical that the country will get its budget under control despite a new, center-right government coming to power this week. 

Investors have been worried that Spain could become the next country to need financial support from its European neighbors if its borrowing rates climb to unsustainable levels. Greece was forced to seek relief from its lenders after its long-term borrowing rates rose above 7 percent on the bond market. The rate on Spain's own benchmark 10-year bond is dangerously close to that level, 6.58 percent. 

The Standard & Poor's 500 fell 4.94 points, or 0.4 percent, to 1,188.04. The Nasdaq composite fell 1.86, or 0.1 percent, to 2,521.28. 

It was the fifth straight decline for the S&P 500, the longest losing streak since August. The S&P has lost 5.5 percent over the past week on worries that Spain could get dragged into Europe's debt crisis and as Congress neared a deadlock over cutting the U.S. budget deficit. 

Trading was relatively quiet ahead of the Thanksgiving holiday Thursday. Volume on the New York Stock Exchange was 3.9 billion shares, below the average of 4.7 billion over the previous 100 days. 

Netflix Inc. sank 5.4 percent to $70.45, the lowest level since March 2010. The online video rental company said it raised $400 million from selling debt and stock as it tries to recover from a consumer backlash following price hikes. 

Campbell Soup Co. sank 5.3 percent to $31.84 after reporting a 5 percent drop in net income. The company said price increases were not enough to offset lower volume in its soup and beverage businesses. 

Medtronic Inc. rose 4.4 percent to $34.75. The world's largest medical device maker reported higher-than-expected earnings and reaffirmed its full-year earnings outlook.


----------



## bigdog

Source: http://finance.yahoo.com

Europe's widening debt crisis and a weak report on Chinese manufacturers pushed stocks sharply lower Wednesday. The Dow Jones industrial average dropped 236 points. 

Traders were spooked by the poor results at an auction of German debt, which drew too few bids to sell all of the 10-year notes being offered. Germany has Europe's strongest economy, and traders have bought its debt as a safe place to store value during turbulent times. 

The weak buying suggests that Europe's crisis might be infecting strong nations that are crucial to keeping the euro currency afloat. Germany bears much of the burden of bailing out weaker neighbors such as Greece and Portugal. 

Borrowing costs for Italy and Spain rose from levels that already were considered dangerously high. Europe lacks the resources to bail out those countries, which have its third- and fourth-biggest economies. 

The Dow fell 236.17 points, or 2.1 percent, to close at 11,257.55. It has slumped 4.6 percent over the past three days as Congress neared a deadlock on cutting the budget deficit and as Europe's debt woes appeared to worsen. The Dow has now given back more than half of its big October rally. It jumped 9.5 percent last month, the biggest gain since 2002. 

The Standard & Poor's 500 index fell 26.25, or 2.2 percent, to 1,161.79. All 10 industry groups fell sharply, led by energy companies, materials makers and banks. The index is headed for its sixth straight decline, the longest losing streak since August. 

The Nasdaq fell 61.20, or 2.4 percent, to 2,460.08. 

*The NYSE DOW NYSE DOW closed  -236.17  points LOWER or  -2.05%  on Wednesday November 23*
Sym .......Last .......Change..........
Dow  11,257.55  -236.17 -2.05% 
Nasdaq  2,460.08  -61.20 -2.43% 
S&P 500  1,161.79  -26.25 -2.21% 
30-yr Bond  2.8200 % -0.0870 

NYSE Volume  3,798,939,000  

Nasdaq Volume  1,715,329,750 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,139.78  -67.04 -1.29% 
CAC 40 2,822.43 -48.25 -(1.68%
DAX 5,457.77 -79.62 -1.44%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,125.80  -78.40 -1.86% 
Shanghai Comp  2,395.06  -17.56  -0.73% 
Taiwan Wei...  6,806.43  -193.60 -2.77% 
Nikkei 225  8,314.74  -closed
Hang Seng  17,864.43  -387.16 -2.12% 
Straits Times 2,676.57  -40.63  -1.50% 

http://finance.yahoo.com/news/Spreading-Europe-stress-sends-apf-3520356669.html?x=0&l=1

*Spreading Europe stress sends stock market lower

Stocks slump as Europe's debt crisis appears to spread; Dow average sheds 236 points*

By Daniel Wagner, AP Business Writers 

Europe's widening debt crisis and a weak report on Chinese manufacturers pushed stocks sharply lower Wednesday. The Dow Jones industrial average dropped 236 points. 

Traders were spooked by the poor results at an auction of German debt, which drew too few bids to sell all of the 10-year notes being offered. Germany has Europe's strongest economy, and traders have bought its debt as a safe place to store value during turbulent times. 

The weak buying suggests that Europe's crisis might be infecting strong nations that are crucial to keeping the euro currency afloat. Germany bears much of the burden of bailing out weaker neighbors such as Greece and Portugal. 

Borrowing costs for Italy and Spain rose from levels that already were considered dangerously high. Europe lacks the resources to bail out those countries, which have its third- and fourth-biggest economies. 

The Dow fell 236.17 points, or 2.1 percent, to close at 11,257.55. It has slumped 4.6 percent over the past three days as Congress neared a deadlock on cutting the budget deficit and as Europe's debt woes appeared to worsen. The Dow has now given back more than half of its big October rally. It jumped 9.5 percent last month, the biggest gain since 2002. 

The Standard & Poor's 500 index fell 26.25, or 2.2 percent, to 1,161.79. All 10 industry groups fell sharply, led by energy companies, materials makers and banks. The index is headed for its sixth straight decline, the longest losing streak since August. 

The Nasdaq fell 61.20, or 2.4 percent, to 2,460.08. 

The dollar rose sharply against the euro as investors moved money into assets considered to be relatively safe. The euro fell near $1.33, from $1.35 late Tuesday. The yield on the 10-year Treasury note fell to 1.89 percent from 1.94 percent late Tuesday, signaling higher demand for Treasurys. 

Fears about Europe also dragged U.S. bank stocks lower. Investors were unnerved by the Federal Reserve's announcement late Tuesday of a fresh round of stress tests of the biggest banks, said Peter Tchir, who runs the hedge fund TF Market Advisors. 

The Fed said 31 banks will be tested to see how they would withstand a recession that would push unemployment above 13 percent by early 2013. The jobless rate now stands at about 9 percent. 

The announcement undermined weeks of market-boosting talk by Fed officials, Tchir said. The stress tests, apparently related to fears about European exposure, exposed a darker view of the market held by some central bank officials, he said. 

"They went ahead and put weakness into the market for the first time" in months, Tchir said. "No one was that afraid, and now all of a sudden, they're saying 'Our own Fed is worried.' That really spooked people." 

Bank stocks fell broadly. Bank of America Corp. lost 4.3 percent to close at $5.14; Citigroup Inc. fell 3.9 percent to $23.51 and Morgan Stanley fell 3.6 percent to $13.03. 

Asian markets fell earlier after a survey showed that manufacturing appears to be slowing in China. A day earlier, the U.S. government had lowered its estimate of third-quarter economic growth. 

Trading was light ahead of the Thanksgiving holiday. U.S. markets will be closed on Thursday and will have shortened hours on Friday. Volume on the New York Stock Exchange was 3.8 billion shares, below the average of 4.7 billion over the past 100 days. 

In corporate news, Deere & Co. rose 3.9 percent to $74.72 after the company reported net income growth of 46 percent. Deere credited strong sales of farm equipment. 

Groupon Inc. plunged 15.5 percent to $17.96, falling below its initial price of $20 for the first time. The online deals company went public less than three weeks ago. 

Companies that make raw materials were hurt by signs of slower growth in China and worries that Europe might fall into recession. United States Steel Corp. plunged 7.6 percent to $22.41. Aluminum maker Alcoa Inc. declined 4.1 percent to $8.88. 

The U.S. government released a mixed batch of economic reports before the market opened. Concerns about developments overseas appeared to overshadow a handful of hopeful signals. 

Slightly more people applied for unemployment benefits last week, a sign that layoffs continue. Consumer spending grew by the least in four months, but incomes rose a bit more than expected. Orders for long-lasting manufactured products fell for a second month and business investment dropped off.


----------



## bigdog

Source: http://finance.yahoo.com

*U.S. markets were closed on Thursday for the Thanksgiving holiday and will have shortened hours on Friday.*

Europe's major stock markets resumed their long losing streak Thursday after German Chancellor Angela Merkel dismissed calls for the European Central Bank to play a bigger role in resolving the debt crisis that's threatening the 17-country eurozone. 

Though she managed to get French President Nicolas Sarkozy to back changes to current EU treaties in order to get the eurozone more unified, she explicitly said there would be no new provision involving the ECB. 

"In the treaty changes we are dealing with the question of a fiscal union, a deeper political cooperation ... there will be proposals on this, but they have nothing to do with the ECB," Merkel said. 

Many think the ECB is the only institution capable of calming frayed market nerves and Merkel's continued dismissal of a greater ECB role knocked market sentiment. 

Potentially, the ECB has unlimited financial firepower through its ability to print money. However, Germany finds the idea of monetizing debts unappealing. 


*The U.S. markets were closed on Thursday for the Thanksgiving holiday on November 24*
Sym .......Last .......Change..........
Dow 11,257.55 
Nasdaq 2,460.08 
S&P 500 1,161.79 
30-yr Bond 2.8200%

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,127.57  -12.21 -0.24% 
DAX 5,428.11  -29.66  -0.54% 
CAC 40 2,822.25  -0.18 -0.01%

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,115.30  -10.50 -0.25%  
Shanghai Comp  2,397.55  +2.49  +0.10% 
Taiwan Wei...  6,864.39  +57.96 +0.85% 
Nikkei 225  8,165.18  -149.56 -1.80%  
Hang Seng  17,935.10  +70.67 +0.40% 
Strait Times 2,677.15  +0.58  +0.02% 

http://finance.yahoo.com/news/stocks-down-again-merkel-rules-170400234.html

*Stocks down again as Merkel rules out ECB role

Stocks resume losing streak as Merkel rules out bigger role for ECB in debt crisis resolution*

By Pan Pylas, AP Business Writer 

LONDON (AP) -- Europe's major stock markets resumed their long losing streak Thursday after German Chancellor Angela Merkel dismissed calls for the European Central Bank to play a bigger role in resolving the debt crisis that's threatening the 17-country eurozone. 

Though she managed to get French President Nicolas Sarkozy to back changes to current EU treaties in order to get the eurozone more unified, she explicitly said there would be no new provision involving the ECB. 

"In the treaty changes we are dealing with the question of a fiscal union, a deeper political cooperation ... there will be proposals on this, but they have nothing to do with the ECB," Merkel said. 

Many think the ECB is the only institution capable of calming frayed market nerves and Merkel's continued dismissal of a greater ECB role knocked market sentiment. 

Potentially, the ECB has unlimited financial firepower through its ability to print money. However, Germany finds the idea of monetizing debts unappealing. 

Merkel also maintained her opposition to the European Commission's new drive for eurobonds. 

Germany has opposed the use of eurobonds and has long called on fiscally wayward member states to clean up their own houses with as little outside intervention as possible. A big worry for Germany is that its low borrowing costs would get diluted if eurobonds came into issue and it would then be forced to pay higher rates to tap bond markets. 

The outcome of the meeting in Strasbourg, France, between Merkel, Sarkozy and Italy's new Premier Mario Monti soured the mood ”” after all, treaty changes are more often than not a notoriously laborious endeavor. 

"While stock markets don't feel like they are about to go into the nosedive we witnessed in August, there is no sign of any positive news to suggest a compelling reason why we will see notable gains for shares in the months to come," said David Jones, chief market strategist at IG Index. 

Britain's FTSE 100 index of leading British shares closed down 0.2 percent to 5,127.57 while Germany's DAX fell 0.5 percent to 5,428.11. The CAC-40 in France ended less than a point lower at 2,822.55. 

The euro meanwhile ended 0.2 percent lower at $1.3330. 

Trading though was fairly light as U.S. markets were closed for the Thanksgiving holiday. 

Earlier, stocks had been trading noticeably higher as they looked to end their poor run, helped along by a better than expected survey of German business confidence from the Ifo Institute. The unexpected rise in its monthly confidence index for the continent's biggest economy to 106.6 in November from 106.4 the previous month helped ease frayed nerves following Wednesday's failed German bond auction, which stoked fears that no one was immune from the crippling debt crisis. 

Europe's debt crisis remains the main focus in the markets and is likely to remain so Friday when U.S. traders ”” by no means all ”” return to their desks. 

Fitch's decision Thursday to downgrade Portugal to junk bond status was another reminder ”” if one indeed were needed ”” that Europe's debt crisis is a long way from being solved. 

Fitch, citing Portugal's large fiscal imbalances, its high indebtedness across all sectors and an adverse macroeconomic outlook, reduced Portugal's credit rating to BB+. That means Portugal is considered non-investment grade by Fitch, making it even more difficult for the bailed-out country to return to the bond markets. 

Earlier in Asia, the Nikkei 225 index in Tokyo, reopening after a one-day public holiday in Japan, fell 1.8 percent to close at 8,165.18. But Hong Kong's Hang Seng reversed an early loss to post a 0.4 percent gain to 17,935.10. South Korea's Kospi closed 0.7 percent higher at 1,795.06. 

Mainland China's benchmark Shanghai Composite Index ended a six-session losing streak, but just barely, gaining 0.1 percent to 2,397.55. Speculation that China's central bank is preparing to ease its tight monetary policy in favor of a pro-growth one helped spur a wave of buying in Hong Kong, analysts said. 

Oil prices traded higher amid light trading volume because of the Thanksgiving holiday ”” benchmark crude for January delivery was up 76 cents at $96.93 a barrel in electronic trading on the New York Mercantile Exchange.


----------



## bigdog

Source: http://finance.yahoo.com

The worst week for the stock market in two months ended with a whimper in thin trading Friday. 

The Dow Jones industrial average lost 4.8 percent this week, while the broader Standard & Poor's 500 index fell 4.7 percent. Both had their worst weeks since Sept. 23. 

Major indexes wavered throughout Friday's session, which was shortened because it's the day after Thanksgiving. Worries about Europe's debt crisis flared up again after Italy had to pay 7.8 percent to borrow for two years at a debt auction. It's another sign that investors are increasingly hesitant to lend to European countries. 

The euro slipped to $1.32, losing 2 percent this week against the dollar. The drop puts the euro at its lowest level since Oct. 4. 

Higher interest rates on government debt of Italy, Spain and other European countries have rattled stock markets in recent weeks. When borrowing costs climb above the 7 percent threshold, it deepens investor fears about a government's ability to manage its debts. Greece, Ireland and Portugal had to seek financial lifelines when their interest rates crossed the same mark. 

The Dow fell 25.77 points, or 0.2 percent, to close at 11,231.78. Of the Dow's 30 stocks, Chevron Corp. lost 1.6 percent Friday, the biggest drop. Travelers Cos. Inc. added 1.2 percent, the largest gain. 

The S&P 500 lost 3.12 points, or 0.3 percent, to 1,158.67. The Nasdaq composite dropped 18.57, or 0.8 percent, to close at 2,441.51. 

Trading volume was 1.6 billion, less than half the daily average. 

Markets were battered this week as governments in Europe and the U.S. struggle to tackle their debts. The Dow lost 248 points on Monday as a Congressional committee failed to reach a deal to cut federal budget deficits. It plunged 236 points Wednesday after investors balked at buying German government debt. 

*The NYSE DOW NYSE DOW closed  -25.61  points  LOWER or -0.23%   on Friday November 25*
Sym .......Last .......Change..........
Dow  11,231.94  -25.61 -0.23% 
Nasdaq  2,441.51  -18.57 -0.75% 
S&P 500  1,158.67  -3.12 -0.27%  
30-yr Bond  2.9200 % +0.0990  

NYSE Volume  1,664,196,000  
Nasdaq Volume  740,202,062 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,164.65  +37.08 +0.72% 
DAX 5,492.87 +64.76 +1.19%
CAC 40 2,856.97 +34.72 +1.23%

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,057.60  -57.70 -1.40% 
Shanghai Comp  2,380.22  -17.33  -0.72%  
Taiwan Wei...  6,784.52  -79.87 -1.16% 
Nikkei 225 8,160.01 -5.17 -0.06% 
Hang Seng 17,689.48 -245.62 -1.37% 
Straits Times 2,643.93 -33.22 -1.24%

http://finance.yahoo.com/news/Stocks-slip-end-roughest-week-apf-2525140832.html?x=0

*Stocks slip to end the roughest week since Sept.

Stocks fall in light trading session as Europe fears linger; Dow drops 4.8 percent for week*

By Matthew Craft, AP Business Writer 



NEW YORK (AP) -- The worst week for the stock market in two months ended with a whimper in thin trading Friday. 

The Dow Jones industrial average lost 4.8 percent this week, while the broader Standard & Poor's 500 index fell 4.7 percent. Both had their worst weeks since Sept. 23. 

Major indexes wavered throughout Friday's session, which was shortened because it's the day after Thanksgiving. Worries about Europe's debt crisis flared up again after Italy had to pay 7.8 percent to borrow for two years at a debt auction. It's another sign that investors are increasingly hesitant to lend to European countries. 

The euro slipped to $1.32, losing 2 percent this week against the dollar. The drop puts the euro at its lowest level since Oct. 4. 

Higher interest rates on government debt of Italy, Spain and other European countries have rattled stock markets in recent weeks. When borrowing costs climb above the 7 percent threshold, it deepens investor fears about a government's ability to manage its debts. Greece, Ireland and Portugal had to seek financial lifelines when their interest rates crossed the same mark. 

The Dow fell 25.77 points, or 0.2 percent, to close at 11,231.78. Of the Dow's 30 stocks, Chevron Corp. lost 1.6 percent Friday, the biggest drop. Travelers Cos. Inc. added 1.2 percent, the largest gain. 

The S&P 500 lost 3.12 points, or 0.3 percent, to 1,158.67. The Nasdaq composite dropped 18.57, or 0.8 percent, to close at 2,441.51. 

Trading volume was 1.6 billion, less than half the daily average. 

Markets were battered this week as governments in Europe and the U.S. struggle to tackle their debts. The Dow lost 248 points on Monday as a Congressional committee failed to reach a deal to cut federal budget deficits. It plunged 236 points Wednesday after investors balked at buying German government debt. 

Retailers traded mixed on the Friday after Thanksgiving, the traditional start of the holiday shopping season and usually the busiest day of the year for retailers. Amazon.com Inc. dropped 3.5 percent. Wal-Mart Stores Inc. inched up 0.4 percent. 

A record number of people were expected to show up at stores this weekend to take advantage of deep discounts. The National Retail Federation estimates that 152 million people will go shopping over the three days starting on Friday. That would be an increase of 10 percent from last year. 

AT&T's stock dipped less than 1 percent. The company said Thursday that it is budgeting to pay $4 billion in break-up fees if its attempted $39 billion takeover of T-Mobile USA from Deutsche Telekom falls apart. 

Four stocks fell for every three that rose on the New York Stock Exchange.

9422


----------



## bigdog

Source: http://finance.yahoo.com

A weekend of exuberant holiday shopping in the U.S. and radical proposals for stanching Europe's debt crisis sent stocks soaring Monday. The Standard & Poor's 500 index broke a seven-day losing streak.

The Dow Jones industrial average jumped 291 points, its biggest gain in a month. The Dow plunged 564 points last week on fear that Europe's debt crisis was spreading to large countries like Spain, Italy and even Germany.

Markets in Europe also surged as leaders there discussed previously unthinkable approaches for containing the region's debt troubles, such as joint bond sales and a tighter fiscal union. France's CAC-40 jumped 5.5 percent. Indexes in Germany and Italy rose 4.6 percent. The battered euro rose against the dollar.

Retail stocks spiked after initial reports showed a record number of shoppers hit the mall or bought gifts online during the holiday weekend. Macy's Inc. rose 4.7 percent and Best Buy Co. rose 3.4 percent. Thanksgiving weekend is a make-or-break time for many retailers. For the past six years, Black Friday has been the biggest retail sales day of the year.

European finance ministers discussed radical measures to stop the debt crisis from destroying the 17-nation currency union. In a sign of how desperate the situation has become, one proposal being discussed ahead of a financial summit Tuesday calls for having nations cede control over their budgets to a central European authority. Profligate borrowing and spending by Greece and other countries helped trigger the two-year old crisis.

Another plan calls for Europe's most stable economies like Germany, France and Austria to jointly sell bonds to provide assistance to the region's most indebted members.

The Dow soared 291.23 points, or 2.6 percent, to 11,523.01. Alcoa Inc. jumped 5.7 percent, the most of the 30 stocks in the Dow.

The S&P 500 rose 33, or 2.9 percent, to 1,192.55. The gains came across industries and sectors; only six stocks in the index fell. The Nasdaq composite rose 85, or 3.5 percent, to 2,527.34.

As the threat of an imminent meltdown in Europe ebbed, U.S. investors focused on a strong weekend of holiday shopping. A record 226 million shoppers visited stores and websites during the four-day holiday weekend starting on Thanksgiving Day, up from 212 million last year, according to early estimates by The National Retail Federation. They spent more, too: The average holiday shopper spent $398.62 over the weekend, up from $365.34 a year ago. That's an encouraging sign for consumer spending.

*The NYSE DOW NYSE DOW closed +291.23 points HIGHER or +2.59% on Monday November 28*
Sym .......Last .......Change..........
Dow  11,523.01  +291.23 +2.59% 
Nasdaq  2,527.34  +85.83 +3.52% 
S&P 500  1,192.55  +33.88 +2.92% 
30-yr Bond  2.9110 % -0.0110 

NYSE Volume  3,839,997,500  
Nasdaq Volume  1,623,544,875

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,312.76  +148.11 +2.87% 
DAX 5,745.33 +252.46 +4.60%
CAC 40 3,012.93 +155.96 +5.46%

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,125.80  +68.20 +1.68% 
Shanghai Comp  2,383.03 18:00  +2.81 +0.12% 
Taiwan Wei...  6,898.78  +114.26 +1.68% 
Nikkei 225  8,287.49  +127.48 +1.56% 
Hang Seng  18,037.81  +348.33 +1.97% 
Straits Times 2,694.43   +50.50 +1.91% 

http://finance.yahoo.com/news/stocks-soar-big-holiday-shopping-143913389.html

*Stocks soar after big holiday shopping weekend

Stocks sharply higher after strong start to holiday shopping season, signs of Europe progress*

By Francesca Levy, AP Business Writer | AP 

NEW YORK (AP) — A weekend of exuberant holiday shopping in the U.S. and radical proposals for stanching Europe's debt crisis sent stocks soaring Monday. The Standard & Poor's 500 index broke a seven-day losing streak.

The Dow Jones industrial average jumped 291 points, its biggest gain in a month. The Dow plunged 564 points last week on fear that Europe's debt crisis was spreading to large countries like Spain, Italy and even Germany.

Markets in Europe also surged as leaders there discussed previously unthinkable approaches for containing the region's debt troubles, such as joint bond sales and a tighter fiscal union. France's CAC-40 jumped 5.5 percent. Indexes in Germany and Italy rose 4.6 percent. The battered euro rose against the dollar.

Retail stocks spiked after initial reports showed a record number of shoppers hit the mall or bought gifts online during the holiday weekend. Macy's Inc. rose 4.7 percent and Best Buy Co. rose 3.4 percent. Thanksgiving weekend is a make-or-break time for many retailers. For the past six years, Black Friday has been the biggest retail sales day of the year.

European finance ministers discussed radical measures to stop the debt crisis from destroying the 17-nation currency union. In a sign of how desperate the situation has become, one proposal being discussed ahead of a financial summit Tuesday calls for having nations cede control over their budgets to a central European authority. Profligate borrowing and spending by Greece and other countries helped trigger the two-year old crisis.

Another plan calls for Europe's most stable economies like Germany, France and Austria to jointly sell bonds to provide assistance to the region's most indebted members.

The Dow soared 291.23 points, or 2.6 percent, to 11,523.01. Alcoa Inc. jumped 5.7 percent, the most of the 30 stocks in the Dow.

The S&P 500 rose 33, or 2.9 percent, to 1,192.55. The gains came across industries and sectors; only six stocks in the index fell. The Nasdaq composite rose 85, or 3.5 percent, to 2,527.34.

As the threat of an imminent meltdown in Europe ebbed, U.S. investors focused on a strong weekend of holiday shopping. A record 226 million shoppers visited stores and websites during the four-day holiday weekend starting on Thanksgiving Day, up from 212 million last year, according to early estimates by The National Retail Federation. They spent more, too: The average holiday shopper spent $398.62 over the weekend, up from $365.34 a year ago. That's an encouraging sign for consumer spending.

The retail numbers added to a growing set of indicators, including steady drops in the number of new applications for unemployment benefits, that suggest the U.S. economy is continuing to heal. As recently as August, there were widespread concerns that the U.S. could enter another recession.

"This goes in stark contrast to the gloom and doom that had been over markets," said Rob Lutts, president of Salem, Ma.-based investment firm Cabot Money Management. "A lot of the stocks I follow have been more oversold than any time I can remember in the last few years."

That negativity has helped drag the S&P 500 down 5.9 percent in November. Monday's gains broke a seven-day losing streak for the index, its longest since the wild market swings from this August. That slide took the S&P down 7.9 percent.

Bank stocks rose sharply as investors became less fearful of an imminent freeze-up in Europe's financial system. Citigroup Inc. leapt 6 percent and Morgan Stanley jumped 4.1 percent.

Despite the big move in the markets Monday, many troubling questions remain about the situation in Europe. Borrowing rates remain onerously high for several major European countries including Spain and Italy. That's a sign markets still don't believe enough is being done to get the region's finances in order.

Credit rating agency Moody's warned on Monday that the "rapid escalation" of Europe's financial crisis is threatening the creditworthiness of all euro zone governments, even the most highly rated. Only six of the euro zone's 17 countries have the top rating — Germany, France, Austria, the Netherlands, Luxembourg and Finland.

Also, the Organization for Economic Cooperation and Development issued a report Monday saying the continued failure by EU leaders to stem the debt crisis "could massively escalate economic disruption" and end in "highly devastating outcomes."


----------



## bigdog

Source: http://finance.yahoo.com

A jump in U.S. consumer confidence sent stocks modestly higher Tuesday. Investors were also encouraged by new efforts from European leaders to find more aggressive cures for the region's debt crisis. 

The Dow Jones industrial average ended with a gain of 32 points, following a 291-point surge Monday. 

Technology stocks were weak. Corning Inc., which makes glass for flat-screen TVs, slumped 10.8 percent, the most in the S&P 500, after saying a major South Korean customer would no longer do business with it. 

Stocks started higher and gained momentum after 10 a.m., when the Conference Board, a private research group, reported that its Consumer Confidence Index jumped in November to its highest level since July. That news and strong retail sales over the Thanksgiving weekend reassured investors that the U.S. economy might be sputtering back to life, said Quincy Krosby, market strategist for Prudential Financial. 

"For the market, the fact that Americans are spending is a positive force." 

Europe's proposals for wriggling out of a potential financial catastrophe have become more radical as borrowing costs for the region's large economies, including Spain and Italy, spike. President Barack Obama said in a meeting with top EU officials Monday that if Europe failed to solve its crisis, the U.S. economy would suffer. 

Acting with new urgency, Europe's finance ministers were considering wide-ranging plans for protecting its shared currency, the euro, from collapsing. Many of those ideas would have been off-limits until recently, including having countries cede some control over their finances to a central European authority. 

In the latest sign of trouble, Italy was forced to pay an excruciatingly high interest rate on an auction of three-year debt Tuesday. The 7.89 percent rate was nearly three percentage points higher than last month, an enormous increase. 

*The NYSE DOW NYSE DOW closed +32.62  points HIGHER or  +0.28%  on Tuesday November 29*
Sym .......Last .......Change..........
Dow  11,555.63  +32.62 +0.28% 
Nasdaq  2,515.51  -11.83 -0.47% 
S&P 500  1,195.19  +2.64 +0.22% 
30-yr Bond  2.9600 % +0.0450 

NYSE Volume  3,960,963,500  
Nasdaq Volume  1,624,788,500 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,337.00  +24.24 +0.46% 
CAC 40 3,026.76 +13.83 +0.46%
DAX 5,799.91 +54.58 +0.95% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,167.30  +41.50 +1.01% 
Shanghai Comp     2,412.39   +29.36 +1.23% 
Taiwan Wei...  6,988.65  +89.87 +1.30% 
Nikkei 225  8,477.82  +190.33 +2.30% 
Hang Seng  18,256.20  +218.39 +1.21% 
Straits Times 2,688.10 -6.33 -0.23%

http://finance.yahoo.com/news/confidence-index-europe-send-stocks-214945253.html

*Confidence index, Europe send stocks mostly higher

Jump in consumer confidence, new urgency on Europe debt talks sends stocks mostly higher*

By Francesca Levy, AP Business Writer 

NEW YORK (AP) -- A jump in U.S. consumer confidence sent stocks modestly higher Tuesday. Investors were also encouraged by new efforts from European leaders to find more aggressive cures for the region's debt crisis. 

The Dow Jones industrial average ended with a gain of 32 points, following a 291-point surge Monday. 

Technology stocks were weak. Corning Inc., which makes glass for flat-screen TVs, slumped 10.8 percent, the most in the S&P 500, after saying a major South Korean customer would no longer do business with it. 

Stocks started higher and gained momentum after 10 a.m., when the Conference Board, a private research group, reported that its Consumer Confidence Index jumped in November to its highest level since July. That news and strong retail sales over the Thanksgiving weekend reassured investors that the U.S. economy might be sputtering back to life, said Quincy Krosby, market strategist for Prudential Financial. 

"For the market, the fact that Americans are spending is a positive force." 

Europe's proposals for wriggling out of a potential financial catastrophe have become more radical as borrowing costs for the region's large economies, including Spain and Italy, spike. President Barack Obama said in a meeting with top EU officials Monday that if Europe failed to solve its crisis, the U.S. economy would suffer. 

Acting with new urgency, Europe's finance ministers were considering wide-ranging plans for protecting its shared currency, the euro, from collapsing. Many of those ideas would have been off-limits until recently, including having countries cede some control over their finances to a central European authority. 

In the latest sign of trouble, Italy was forced to pay an excruciatingly high interest rate on an auction of three-year debt Tuesday. The 7.89 percent rate was nearly three percentage points higher than last month, an enormous increase. 

Bank stocks lagged the market as investors saw the latest jump in Italy's borrowing costs as a troubling sign for the global financial system. Banks could suffer huge losses in the event of a financial panic in Europe and a freeze-up in global lending markets. Morgan Stanley fell 3.6 percent; Bank of America 3.2 percent. 

AMR Corp. plunged 84 percent after the parent company of American Airlines said it would file for Chapter 11 because it could no longer shoulder rising fuel costs and its heavy debt load. Competitor United Continental Holdings Inc. jumped 6.3 percent, and Delta Air Lines Inc. rose 5 percent. AMR Corp. has continued to lose money while other U.S. airlines returned to profitability in the last two years. 

The Dow Jones industrial average rose 33.62 points, or 0.3 percent, to close at 11,555.63 Tuesday. 

The Dow jumped 291 the day before on expectations that European leaders were moving more aggressively to prevent the region's debt crisis from causing a catastrophic breakup of their currency union. European finance ministers gathered Tuesday to hash out the latest ideas for squelching the crisis. At their regular monthly meeting, the ministers also released the latest installment of emergency loans for Greece. 

The Standard & Poor's 500 index rose 2.64, or 0.2 percent, to 1,195.19. The S&P broke a seven-day losing streak Monday. 

The Nasdaq composite, which consists mostly of technology stocks, fell 11.83, or 0.5 percent, to 2,515.51. Netflix lost 3.4 percent after Standard & Poor's lowered its rating on the company's debt, saying it expected losses. 

Seagate Technology PLC jumped 3.7 percent after the hard drive maker forecast revenue for the current quarter that was higher than analysts were expecting. Citi analyst Joe Yoo said higher hard disk drive prices were driving the gain. 

Tiffany & Co. fell 8.7 percent after the luxury retailer forecast fourth-quarter earnings that were below Wall Street's expectations. The quarter includes the holiday shopping season. 

Dillard's Inc. slumped 6.8 percent after a Sterne Agee analysts cut his rating on the stock, saying the department store operator's profits could be pressured by an increased in markdowns and sluggish economic conditions.


----------



## bigdog

Source: http://finance.yahoo.com

A move by the world's central banks to lower the cost of borrowing exhilarated investors Wednesday, sending the Dow Jones industrial average soaring 490 points and easing fears of a global credit crisis similar to the one that followed the 2008 collapse of Lehman Brothers. 

It was the Dow's biggest gain since March 2009. 

Large U.S. banks were among the top performers, jumping as much as 7 percent. Markets in Europe surged, too, with Germany's DAX index climbing 5 percent. 

"The central banks of the world have resolved that there will not be a liquidity shortage," said David Kotok, chairman and chief investment officer of Cumberland Advisors. "And they have learned their lessons from 2008. They don't want to take small steps and do anything incrementally, but make a big bold move that is credible." 

Wednesday's action by the banks of Europe, the U.S., Britain, Canada, Japan and Switzerland represented an extraordinary coordinated effort. 

But amid the market's excitement, many doubts loomed. Some analysts cautioned that the banks' move did nothing to provide a permanent fix to the problems facing heavily indebted European nations such as Italy and Greece. It only buys time for political leaders. 

"It is a short-term solution," said Jack Ablin, chief investment officer at Harris Private Bank. "The bottom line on any central bank action is that it papers over the problems, buys time and in some respects takes pressure from politicians. ... If nothing's done in a week, this market gain will disappear." 

Banks stocks soared as fears about an imminent disaster in the European financial system ebbed. 

American and European banks are connected by contracts, loans and other financial entanglements, meaning that a European financial crisis would punish U.S. bank stocks. The brighter outlook that emerged Wednesday relieved some investor concerns. 

*The NYSE DOW NYSE DOW closed +490.05  points HIGHER or +4.24% on Wednesday November 30*
Sym .......Last .......Change..........
Dow  12,045.68  +490.05 +4.24% 
Nasdaq  2,620.34  +104.83 +4.17% 
S&P 500  1,246.96  +51.77 +4.33% 
30-yr Bond  3.0600 % +0.1060 

NYSE Volume  5,808,298,500  
Nasdaq Volume  2,487,674,500  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,505.42  +168.42 +3.16%  
CAC 40 3,154.62 +127.86 +4.22%
DAX 6,088.84 +288.93 +4.98% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,184.70  +17.40 +0.42% 
Shanghai Comp 2,333.41 18:00  -78.98 -3.27% 
Taiwan Wei...  6,904.12  -84.53 -1.21% 
Nikkei 225  8,434.61  -43.21 -0.51% 
Hang Seng  17,989.35  -266.85 -1.46% 
Straits Times 2,702.46   +14.36 +0.53% 

http://finance.yahoo.com/news/move-central-banks-exhilarates-wall-185211005.html

*Move by central banks exhilarates Wall Street

Move to ease cost of borrowing exhilarates Wall Street, sends Dow soaring 489 points*

By Daniel Wagner, AP Business Writer 

A move by the world's central banks to lower the cost of borrowing exhilarated investors Wednesday, sending the Dow Jones industrial average soaring 490 points and easing fears of a global credit crisis similar to the one that followed the 2008 collapse of Lehman Brothers. 

It was the Dow's biggest gain since March 2009. 

Large U.S. banks were among the top performers, jumping as much as 7 percent. Markets in Europe surged, too, with Germany's DAX index climbing 5 percent. 

"The central banks of the world have resolved that there will not be a liquidity shortage," said David Kotok, chairman and chief investment officer of Cumberland Advisors. "And they have learned their lessons from 2008. They don't want to take small steps and do anything incrementally, but make a big bold move that is credible." 

Wednesday's action by the banks of Europe, the U.S., Britain, Canada, Japan and Switzerland represented an extraordinary coordinated effort. 

But amid the market's excitement, many doubts loomed. Some analysts cautioned that the banks' move did nothing to provide a permanent fix to the problems facing heavily indebted European nations such as Italy and Greece. It only buys time for political leaders. 

"It is a short-term solution," said Jack Ablin, chief investment officer at Harris Private Bank. "The bottom line on any central bank action is that it papers over the problems, buys time and in some respects takes pressure from politicians. ... If nothing's done in a week, this market gain will disappear." 

Banks stocks soared as fears about an imminent disaster in the European financial system ebbed. 

American and European banks are connected by contracts, loans and other financial entanglements, meaning that a European financial crisis would punish U.S. bank stocks. The brighter outlook that emerged Wednesday relieved some investor concerns. 

JPMorgan Chase & Co. jumped 7.7 percent, the most of the 30 Dow components. Morgan Stanley rose 10 percent and Citigroup Inc. 8.2 percent. 

Banking worries ”” and the reluctance of the European Central Bank to intervene ”” have caused borrowing rates for European nations to skyrocket. Wednesday's decision greatly alleviated fears by cutting short-term borrowing rates to banks, giving them much easier access to money. But borrowing costs remain extremely high for indebted countries such as Italy and Spain. 

The euro rose sharply, while U.S. Treasury prices fell as demand weakened for ultra-safe assets. 

The Dow rose 4.2 percent to close at 12,045. It has more than gained back the 564-point slump it had last week and is up 7 percent so far this week. The last time the Dow closed up more than 400 points was Aug. 11. 

The Standard & Poor's 500 closed up 52, or 4.3 percent, at 1,247. The Nasdaq composite index closed up 105, or 4.2 percent, at 2,620. 

Seven stocks rose on the New York Stock Exchange for every one that fell. Volume was heavy at 5.7 billion shares. 

Surging commodity prices lifted the stocks of companies that make basic materials such as steel. United States Steel Corp. gained 14 percent, the most in the S&P 500. AK Steel Holding Corp. added 11 percent. Energy stocks also leaped. Alpha Natural Resources Inc. rose 14 percent, Peabody Energy Corp. 13 percent. 

The move by the banks takes some pressure off the financial system, which has signaled in recent days that banks were losing faith in their trading partners. Banks need dollars to fund their daily operations, and they need to trust each other to maintain healthy flows of credit. Access to dollars has dried up as American money market funds reduced their lending to European banks. 

But the banks' most recent steps do little to solve the long-term debt problem in Europe. 

"People are taking comfort that it's globally coordinated," said Peter Tchir, who runs the hedge fund TF Market Advisors. "In itself, it does nothing. But the bulls are anticipating that this is just the beginning of central bank and other actions" to ease market pressures. 

Any successful plan would have to reduce borrowing costs for Italy and other indebted nations, Tchir said. Italy's borrowing costs edged lower Wednesday, but the nation was still paying more than 7 percent interest for 10-year borrowing ”” a dangerously high level. 

European finance ministers in Brussels have been meeting since Tuesday but have failed to deliver a clearer sense of how the currency union will proceed. More leaders gather next week for a summit. 

In another attempt to free up cash for lending, China on Wednesday reduced the amount of money its banks are required to hold in reserve. It was the first easing of monetary policy in three years, and analysts are expecting more. 

Growth in China, which has the largest economy after the European Union and the U.S., could be crucial to sustaining any recovery after the debt crisis. 

A string of positive U.S. economic news also propelled the market higher. An index measuring manufacturing in the Midwest surged to a seven-month high; private company hiring jumped in November to the highest level this year, according to payroll company ADP; and the number of contracts to buy homes jumped in October to the highest level in a year.


----------



## bigdog

Source: http://finance.yahoo.com

A rally that drove major stock indexes up 7 percent this week stalled Thursday. Stock indexes ended slightly lower, a day after the market posted its biggest gain in two and a half years. 

Goldman Sachs and other banks, the previous day's star-performers, gave up some of their gains. Costco, Nordstrom and other retailers rose after reporting stronger sales for November. 

The Dow Jones industrial average fell 25.65 points, or 0.2 percent, to close at 12,020.03. Travelers Cos. Inc. lost 2.2 percent, the biggest drop of the Dow's 30 stocks. Boeing Co. had the biggest gain, 3.3 percent. 

The Dow soared 490 points Wednesday, its seventh-best gain on record, on news that central banks around the world slashed the cost of borrowing in order to shore up European banks and avert a deeper credit crisis in the region. 

Another rise in applications for weekly unemployment benefits dampened the mood Thursday. The Labor Department said initial applications rose to 402,000 last week, the second weekly increase in a row. The figures didn't change expectations for the government's monthly labor report, which comes out Friday. Economists forecast that the unemployment rate will remain at 9 percent. 

The S&P 500 index slipped 2.37, or 0.2 percent, to 1,244.59. The Nasdaq inched up 5.86, or 0.2 percent, to 2,626. 

*The NYSE DOW NYSE DOW closed -25.65  points LOWER or -0.21% on Thursday December 1*
Sym .......Last .......Change..........
Dow  12,020.03  -25.65 -0.21% 
Nasdaq  2,626.20  +5.86 +0.22% 
S&P 500  1,244.58  -2.38 -0.19% 
30-yr Bond  3.1400 % +0.0730 

NYSE Volume  3,853,665,250  
Nasdaq Volume  1,826,225,250  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,489.34  -16.08 -0.29% 
DAX 6,035.88 -52.96 -0.87% 
CAC 40 3,129.95 -24.67 -0.78%

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,288.10  +103.40 +2.47% 
Shanghai Comp   2,386.86   +53.45 +2.29% 
Taiwan Wei...  7,178.69  +274.57 +3.98% 
Nikkei 225  8,597.38  +162.77 +1.93% 
Hang Seng  19,002.26  +1,012.91 +5.63% 
Straits Times 2,761.88   +59.42 +2.20% 

*Stocks waver, a day after biggest rally in 2 years

Market rally on hold; Dow and S&P 500 are little changed as unemployment claims rise again*

By Matthew Craft, AP Business Writer 



NEW YORK (AP) -- A rally that drove major stock indexes up 7 percent this week stalled Thursday. Stock indexes ended slightly lower, a day after the market posted its biggest gain in two and a half years. 

Goldman Sachs and other banks, the previous day's star-performers, gave up some of their gains. Costco, Nordstrom and other retailers rose after reporting stronger sales for November. 

The Dow Jones industrial average fell 25.65 points, or 0.2 percent, to close at 12,020.03. Travelers Cos. Inc. lost 2.2 percent, the biggest drop of the Dow's 30 stocks. Boeing Co. had the biggest gain, 3.3 percent. 

The Dow soared 490 points Wednesday, its seventh-best gain on record, on news that central banks around the world slashed the cost of borrowing in order to shore up European banks and avert a deeper credit crisis in the region. 

Another rise in applications for weekly unemployment benefits dampened the mood Thursday. The Labor Department said initial applications rose to 402,000 last week, the second weekly increase in a row. The figures didn't change expectations for the government's monthly labor report, which comes out Friday. Economists forecast that the unemployment rate will remain at 9 percent. 

The S&P 500 index slipped 2.37, or 0.2 percent, to 1,244.59. The Nasdaq inched up 5.86, or 0.2 percent, to 2,626. 

Investors often turn cautious following giant leaps, said Sam Stovall, chief equity strategist at S&P Capital IQ. The Dow shot up 813 points in the first three days of the week as fears ebbed that Europe's debt crisis would turn into a global panic. The rally got started Monday with news that a record number of shoppers went to stores over the Thanksgiving weekend. 

"It's almost like rooting for a football team that won by a very big score," Stovall said. The next day, people are likely wondering whether the big victory was a one-off event or the start of a lasting trend. 

"Lately, it seems like nothing lasts that long," Stovall said. News out of Europe has sent stocks swinging from large gains to deep losses. One week ago, the S&P 500 was down 7.9 percent for the year. The index is now within 13 points of breaking even. 

Daily moves in the S&P 500 index have been three times more volatile in the past 13 weeks compared with the long-term average, Stovall said. Since 2000, the S&P 500 index moved up or down by 2 percent an average of 14 days every three months. Over the past 13 weeks, that's happened 45 times. 

Traders took little encouragement Thursday from a better manufacturing report. The Institute for Supply Management said that manufacturing grew last month at the fastest pace since June. 

The euro inched higher against the dollar as investors became less fearful about Europe's financial problems. Borrowing rates for France and Spain eased after both countries had successful auctions of new debt. 

Macy's Inc., Costco Wholesale Corp., Limited Brands Inc. and other retailers reported sales that surpassed Wall Street estimates. Nordstrom Inc. jumped 4 percent. Costco rose 2.1 percent. 

Kohl's Corp. slumped 6.4 percent. The department store chain reported that a key revenue measure dropped sharply in November and fell far below Wall Street forecasts. Sales at stores open at least a year fell 6.2 percent; analysts had expected an increase. 

Barnes & Noble dropped 16 percent after the bookseller posted a third-quarter loss instead of the slight profit analysts had expected. Sales also fell below analysts' estimates. 

Finisar Corp. lost 12 percent after the maker of fiber-optics components reported revenue that was lower than analysts were expecting.


----------



## bigdog

Source: http://finance.yahoo.com

An early rally fizzled on the stock market Friday but still left the Standard & Poor's 500 index up 7.4 percent for the week, its biggest gain since March 2009.

A surprise drop in the U.S. unemployment rate sent stocks higher in early trading, but the gains faded during the afternoon.

The Dow Jones industrial average dropped 0.61 of a point to close at 12,019.42. The Dow ended the week up 7 percent, the largest weekly gain since July 2009.

Bank stocks rose sharply, continuing a weeklong rally. JPMorgan Chase & Co. jumped 6.1 percent, the most among the 30 stocks in the Dow average. Morgan Stanley leapt 6.9 percent, the second-biggest gain of any stock in the S&P 500 index.

European stock indexes and the euro rose after German Chancellor Angela Merkel made a speech pushing for tighter rules on government spending. Merkel said the 17 countries that use the euro must quickly restore market confidence by making financial controls stricter.

Bond yields for Spain and Italy fell, a sign that investors are becoming more confident in the ability of those countries to pay their debt. France's CAC-40 and Britain's FT-SE each rose 1.1 percent.

Markets could be in for more volatility next week as European leaders prepare for a summit to propose new measures for containing the crisis.

*The NYSE DOW NYSE DOW closed -0.61  points LOWER or  -0.01%  on Friday December 2*
Sym .......Last .......Change..........
Dow  12,019.42  -0.61 -0.01% 
Nasdaq  2,626.93  +0.73 +0.03% 
S&P 500  1,244.28  -0.30 -0.02% 
30-yr Bond  3.0360 % -0.0990 

NYSE Volume  4,177,446,000
Nasdaq Volume  1,658,329,375 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,552.29 +62.95 +1.15% 
DAX 6,080.68 +44.80 +0.74% 
CAC 40 3,164.95 +35.00 +1.12%

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,346.30  +58.20 +1.36% 
Shanghai Comp  2,360.66 -26.20 -1.10% 
Taiwan Wei...  7,140.68  -38.01 
Nikkei 225  8,643.75  +46.37 +0.54% 
Hang Seng  19,040.39  +38.13 +0.20% 
Straits Times 2,773.36 +11.48 +0.42% 

http://news.yahoo.com/stock-market-closes-best-week-since-2009-215813316.html

*Stock market closes out its best week since 2009*

By FRANCESCA LEVY and MATTHEW CRAFT 

NEW YORK (AP) — An early rally fizzled on the stock market Friday but still left the Standard & Poor's 500 index up 7.4 percent for the week, its biggest gain since March 2009.

A surprise drop in the U.S. unemployment rate sent stocks higher in early trading, but the gains faded during the afternoon.

The Dow Jones industrial average dropped 0.61 of a point to close at 12,019.42. The Dow ended the week up 7 percent, the largest weekly gain since July 2009.

Bank stocks rose sharply, continuing a weeklong rally. JPMorgan Chase & Co. jumped 6.1 percent, the most among the 30 stocks in the Dow average. Morgan Stanley leapt 6.9 percent, the second-biggest gain of any stock in the S&P 500 index.

European stock indexes and the euro rose after German Chancellor Angela Merkel made a speech pushing for tighter rules on government spending. Merkel said the 17 countries that use the euro must quickly restore market confidence by making financial controls stricter.

Bond yields for Spain and Italy fell, a sign that investors are becoming more confident in the ability of those countries to pay their debt. France's CAC-40 and Britain's FT-SE each rose 1.1 percent.

Markets could be in for more volatility next week as European leaders prepare for a summit to propose new measures for containing the crisis.

The Labor Department reported before the market opened that the unemployment rate fell to 8.6 percent last month, the lowest level in 2 ½ years. Economists had expected the rate to stay at 9 percent. But a key reason the unemployment rate fell so much was that more than 300,000 people gave up looking for work and were no longer counted as unemployed.

The Nasdaq composite index inched up 0.73 to 2,626.93. The Standard & Poor's 500 index fell 0.31 of a point to 1,244.28. The S&P surged 7.4 percent over the week, the most since March 2009.

Decisive steps by world leaders to right Europe's teetering economy sent stocks soaring on Wednesday. The Dow jumped 490 points, its biggest gain since March 2009 and its seventh-largest one-day point gain in history. The weekly point gain of 787 in the Dow was the second-biggest in its history, following a 946-point gain in October 2008.

"This market has been gripped with fear for a long time," said Peter Cardillo, chief market economist at Rockwell Global Capital. "And I think some of these fear factors are beginning to dissipate."

This week's strong stock performance is partially a reflection of the market's increased volatility since August, when concerns that Europe's debt was spinning out of control made dramatic stock price swings the norm. On Monday the S&P 500 broke a 7-day slide that had taken the index down 7.9 percent.

The improvements in the U.S. job market are "another illustration that the US economy is, for now at least, shrugging off the global economic downturn and fears about the collapse of the euro-zone," Capital Economics Chief U.S. Economist Paul Ashworth said in a note to clients.

Merkel and French President Nicolas Sarkozy will meet Monday to discuss changes to European Union treaties. The talks will culminate in a Dec. 9 summit of EU leaders, where the proposals are expected to be debated and detailed. Analysts say stricter controls on spending could encourage the European Central Bank to offer more short-term help for governments struggling with their debts.

If the European Central Bank takes a larger role in buying government debt, "it will certainly be a relief to markets," Cardillo said, "and maybe even mean Europe avoids falling into a deep recession. Not that it's going to cure all the problems of Europe."

In corporate news:

— Western Digital Corp. soared 7.5 percent, the most in the S&P. The data storage provider raised its revenue estimate for the current quarter and said that recovery efforts at its facility in Thailand following massive flooding there were proceeding faster than had been expected.

— Big Lots Inc. slumped 8.7 percent, after the retailer reported a 76 percent plunge in income because of lower margins and a loss related to a newly acquired Canadian business. The company buys overstocked items including food and housewares and sells them at a discount.

— H&R Block Inc. fell 6.4 percent. The country's largest tax-preparation company reported a wider quarterly loss late Thursday. H&R Block also said there was a jump in claims tied to bad loans made by its former subprime mortgage unit.

0125


----------



## bigdog

Source: http://finance.yahoo.com

Stocks closed modestly higher Monday after a reported threat to Germany's credit rating deflated a morning market rally. The Dow Jones industrial average closed up 78 points, giving back much of a 167-point gain from earlier. 

News reports Monday afternoon said Standard & Poor's will put all nations that use the euro on "creditwatch negative," meaning there is a 50-50 chance of a downgrade in the coming months. S&P had warned of possible rating demotions for many of the countries. But the inclusion on the list of Germany, Europe's strongest economy, came as a surprise. 

Stocks had risen strongly in the morning after the leaders of France and Germany called for a new treaty to impose greater fiscal discipline on European countries. Yields on Italian government bonds receded sharply after the new government of Mario Monti introduced sweeping austerity measures over the weekend. That suggests that traders believe Italy is less likely to default. 

"There's pent-up demand, and people will use any excuse to get back in, thinking there's been too much pessimism," said Brian Gendreau investment strategist with Cetera Financial Group. Despite strong signals about the U.S. economy, the market has been weighed down by negative headlines about the U.S. budget impasse, credit-rating downgrades of the U.S. and other nations, and Europe's spreading crisis, Gendreau said. 

The Dow Jones industrial average rose 78.41 points, or 0.7 percent, to 12,097.83. 

The gains were broad. All 10 industry groups in the S&P 500 rose. Financials stocks were among the biggest winners. Investors have feared that U.S. banks might be dragged down by their close connections to the unstable European financial system. 

JPMorgan Chase & Co. jumped 3.7 percent, the most in the Dow. Bank of America was the second-biggest gainer, rising 2.7 percent. Citigroup Inc. rose 5.9 percent, Morgan Stanley 6.8 percent. 

The S&P 500 rose 13, or 1 percent, to 1,257. The Nasdaq rose 29, or 1.1 percent, to 2,656. 

*The NYSE DOW NYSE DOW closed +78.41 points HIGHER   or +0.65% on Monday December 5*
Sym .......Last .......Change..........
Dow  12,097.83  +78.41 +0.65% 
Nasdaq  2,655.76  +28.83 +1.10% 
S&P 500  1,257.08  +12.80 +1.03% 
30-yr Bond  3.0400 % +0.0060 

NYSE Volume  4,156,715,750  
Nasdaq Volume  1,708,961,125  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,567.96 +15.67 +0.28%
DAX 6,106.09 +25.41 +0.42%
CAC 40 3,201.28 +36.33 +1.15%

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord 4,379.50 +33.20 +0.76%
Shanghai Comp 2,333.23 -27.43  -1.16%
Taiwan Wei... 7,098.08 -42.60 -0.60%
Nikkei 225 8,695.98 +52.23 +0.60%
Hang Seng 19,179.69 +139.30 +0.73%
Straits Times  2,766.23 -7.13 -0.26%

*Stocks rise despite threatened Germany downgrade

Stock close higher, but Germany downgrade threat limits gains; traders hope for crisis pact*

By Daniel Wagner, AP Business Writer 

Stocks closed modestly higher Monday after a reported threat to Germany's credit rating deflated a morning market rally. The Dow Jones industrial average closed up 78 points, giving back much of a 167-point gain from earlier. 

News reports Monday afternoon said Standard & Poor's will put all nations that use the euro on "creditwatch negative," meaning there is a 50-50 chance of a downgrade in the coming months. S&P had warned of possible rating demotions for many of the countries. But the inclusion on the list of Germany, Europe's strongest economy, came as a surprise. 

Stocks had risen strongly in the morning after the leaders of France and Germany called for a new treaty to impose greater fiscal discipline on European countries. Yields on Italian government bonds receded sharply after the new government of Mario Monti introduced sweeping austerity measures over the weekend. That suggests that traders believe Italy is less likely to default. 

"There's pent-up demand, and people will use any excuse to get back in, thinking there's been too much pessimism," said Brian Gendreau investment strategist with Cetera Financial Group. Despite strong signals about the U.S. economy, the market has been weighed down by negative headlines about the U.S. budget impasse, credit-rating downgrades of the U.S. and other nations, and Europe's spreading crisis, Gendreau said. 

The Dow Jones industrial average rose 78.41 points, or 0.7 percent, to 12,097.83. 

The gains were broad. All 10 industry groups in the S&P 500 rose. Financials stocks were among the biggest winners. Investors have feared that U.S. banks might be dragged down by their close connections to the unstable European financial system. 

JPMorgan Chase & Co. jumped 3.7 percent, the most in the Dow. Bank of America was the second-biggest gainer, rising 2.7 percent. Citigroup Inc. rose 5.9 percent, Morgan Stanley 6.8 percent. 

The S&P 500 rose 13, or 1 percent, to 1,257. The Nasdaq rose 29, or 1.1 percent, to 2,656. 

Investors are hoping that a summit of European leaders on Thursday and Friday will produce concrete measures to prevent a messy breakup of the euro currency, which is shared by 17 nations. Markets have been jittery because of fears that the euro might disintegrate, causing a sharp recession in Europe that would spread through the world economy. 

While the statements from French President Nicolas Sarkozy and German Chancellor Angela Merkel were far from a long-term solution, investors are eager to buy on any hint of good news because they have been earning meager returns from relatively low-risk investments such as Treasurys and CDs, Gendreau said. 

Italian bond yields dropped to their lowest level in a month, a day after the nation's new government introduced austerity measures. That suggests traders believe that Italy is far less likely to default. The main Italian stock index jumped 2.9 percent. 

Italy's borrowing costs pulled back from a level that might have forced the nation to default. Analysts say bailing out Italy would be too costly and would hurt the credit standing of German and France, which have the strongest economies in the euro group. 

The yield on the 10-year Italian bond plunged half a percentage point to 5.93 percent. It rose above 7 percent last month, a level at which other nations were forced to take bailouts. By comparison, bond yields in Germany, Europe's largest and most stable economy, are roughly 2 percent. 

Monday's strong gains follow the best week in more than two years for U.S. stock indexes. The S&P 500 rose 7.4 percent last week, the most since March 2009. The Dow jumped 7 percent, the most since July 2009. 

Markets are hopeful that, given the gravity of the situation afflicting the euro zone, the German and French leaders will come up with a common proposal for tighter integration on budget matters. Analysts say that such a plan could lead to further emergency aid from the European Central Bank, possibly through the International Monetary Fund. 

In corporate news: 

”” Gannett Co. leapt 10.2 percent after the media company was upgraded to "buy" from "neutral" by analysts at Lazard Capital Markets. 

”” Incyte Corp. fell 2 percent after a Citigroup analyst downgraded the drug maker to "neutral" from "buy," saying its new blood-disease drug Jakafi might not work as a long-term treatment. 

”” SuccessFactors Inc. soared more than 50 percent after the company agreed to be sold to German software company SAP for $3.4 billion. SuccessFactors makes software specializing in human resources tasks. The deal is part of SAP's plan to compete with software rival Oracle Corp


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average ended up 52 points following a report that European leaders are considering more aggressive programs to bail out weaker countries in the region. 

Broader market indicators were mixed. The S&P 500 index rose 1 point and the Nasdaq composite edged lower. Materials and health care companies rose the most. Agricultural supplies company Monsanto Co. rose 2.8 percent and drug maker Pfizer Inc. rose 2 percent. 

Stocks were stuck in neutral for most of the day after S&P said it might downgrade the AAA rating of Europe's bailout fund. A report in the Financial Times late in the afternoon sent the Dow up as many as 117 points. The newspaper reported that European leaders are considering making more financial aid available to struggling countries. 

Investors remain cautious ahead of a summit of European leaders Thursday and Friday where the main task will be coming up with credible plans for preventing a simmering debt crisis from causing a breakup of the euro, the currency shared by 17 European nations. 

"We are coming to a head in Europe, and it's no longer about the small countries like Greece," said Paul Zemsky, chief investment officer at ING Investment Management. He said current stock prices reflect traders' expectations of a rate cut from the European Central Bank on Thursday and strong political action on Friday. Any less that, he said, and "it's anyone's guess show bad things will get, but they'll get pretty bad." 

The Dow Jones industrial average closed up 52.3 points, or 0.43 percent, at 12,150.13. Among its top performers was 3M Co., which rose 1.5 percent after the maker of Post-It notes forecast 2012 earnings that were stronger that many analysts expected. 

The Standard & Poor's 500 index closed up 1.4 points, or 0.1 percent, to 1,258.5. The Nasdaq composite average closed down 6.2, or 0.23 percent, at 2,649.56. 

U.S. stock indexes have risen sharply from the lows they hit during a Thanksgiving-week drubbing. The S&P 500 is up 8.6 percent since Nov. 25, when it closed at 1,158.67. 

*The NYSE DOW NYSE DOW closed +52.30 points HIGHER   or +0.43% on Tuesday December 6*
Sym .......Last .......Change..........
Dow  12,150.13  +52.30 +0.43% 
Nasdaq  2,649.56  -6.20 -0.23% 
S&P 500  1,258.47  +1.39 +0.11% 
30-yr Bond  3.1100 % +0.0650 

NYSE Volume  3,732,697,000  
Nasdaq Volume  1,498,584,500 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,568.72 +0.76 +0.01% 
DAX 6,028.82 -77.27 -1.27% 
CAC 40 3,179.63 -21.65 -0.68%

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,321.60  -57.90 -1.32%  
Shanghai Comp  2,325.90 -7.32 -0.31% 
Taiwan Wei...  6,956.28  -141.80 -2.00% 
Nikkei 225  8,575.16  -120.82 -1.39% 
Hang Seng  18,942.23  -237.46 -1.24% 
Straits Times 2,749.24 20:10  -16.99 -0.61%


----------



## bigdog

Source: http://finance.yahoo.com

Hopes for a key European summit this week rose and fell on Wednesday, but U.S. stock indexes barely moved. The Dow Jones industrial average closed 46 points higher, while other indicators were mixed. 

French and German leaders sought to downplay expectations for the summit, which wraps up Friday. Traders hope that European countries will link their budgets more closely and impose greater fiscal discipline on heavily indebted nations like Greece. Officials said Wednesday that a deal this week might include only some countries, and crafting a fuller plan might take until Christmas. 

"The pattern has been, get your hopes up, then be disappointed by EU summits, and that pattern has been in place for a while," said Steve Van Order, fixed income strategist at Calvert Investment Management. 

The Dow rose 46.24 points, or 0.4 percent, to close at 12,196.37. Its biggest gains came from financial companies. JPMorgan Chase & Co. rose 2.3 percent, Bank of America Corp. rose 1.9 percent and insurance giant Travelers Cos. Inc. rose 1.8 percent. Machinery maker Caterpillar Inc. fell 1.1 percent, the most in the Dow 30. 

The Standard & Poor's 500 index fell 2.54 points, or 0.2 percent, at 1,261.01. The Nasdaq composite index lost 0.35, or 0.01 percent, to 2,649.21. 

The yield on the 10-year Treasury note fell to 2.04 percent from 2.09 percent late Tuesday.

*The NYSE DOW NYSE DOW closed +46.24 points HIGHER or +0.38% on Wednesday December 7*
Sym .......Last .......Change..........
Dow  12,196.37  +46.24 +0.38% 
Nasdaq  2,649.21  -0.35 -0.01% 
S&P 500  1,261.01  +2.54 +0.20% 
30-yr Bond  3.0400 % -0.0640 

NYSE Volume  4,158,220,500  
Nasdaq Volume  1,654,001,000  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,546.91  -21.81 -0.39% 
DAX 5,994.73 -34.09 -0.57% 
CAC 40 3,175.98  -3.65 -0.11%

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,351.30  +29.70 +0.69% 
Shanghai Comp  2,332.73   +6.82 +0.29% 
Taiwan Wei...  7,033.00  +76.72 +1.10% 
Nikkei 225  8,722.17  +147.01 +1.71% 
Hang Seng  19,240.58  +298.35 +1.58% 
Straits Times   2,782.55   +33.31 +1.21% 

http://in.finance.yahoo.com/news/Stocks-close-mixed-traders-ap-3049362198.html?x=0

*Stocks close mixed as traders await Europe news

Stocks close mixed after trading in narrow range; traders await news from meetings in Europe*

By Daniel Wagner, AP Business Writer 

Hopes for a key European summit this week rose and fell on Wednesday, but U.S. stock indexes barely moved. The Dow Jones industrial average closed 46 points higher, while other indicators were mixed. 

French and German leaders sought to downplay expectations for the summit, which wraps up Friday. Traders hope that European countries will link their budgets more closely and impose greater fiscal discipline on heavily indebted nations like Greece. Officials said Wednesday that a deal this week might include only some countries, and crafting a fuller plan might take until Christmas. 

"The pattern has been, get your hopes up, then be disappointed by EU summits, and that pattern has been in place for a while," said Steve Van Order, fixed income strategist at Calvert Investment Management. 

The Dow rose 46.24 points, or 0.4 percent, to close at 12,196.37. Its biggest gains came from financial companies. JPMorgan Chase & Co. rose 2.3 percent, Bank of America Corp. rose 1.9 percent and insurance giant Travelers Cos. Inc. rose 1.8 percent. Machinery maker Caterpillar Inc. fell 1.1 percent, the most in the Dow 30. 

The Standard & Poor's 500 index fell 2.54 points, or 0.2 percent, at 1,261.01. The Nasdaq composite index lost 0.35, or 0.01 percent, to 2,649.21. 

The yield on the 10-year Treasury note fell to 2.04 percent from 2.09 percent late Tuesday. 

Traders have been growing restless with the delays in getting a resolution to Europe's debt crisis. Rating agencies have warned of possible downgrades for nations using the euro if they do not quickly set a firm plan for solving the two-year-old ordeal. 

In Europe, yields on Spanish and Italian government debt rose. That means investors are demanding higher returns because of fears that one of those nations might default. Borrowing costs for Spain and Italy had fallen sharply until Tuesday, having reached dangerously high levels a week earlier. European stocks were mostly lower. Germany's DAX fell 0.6 percent, Britain's FTSE 0.4 percent. 

In corporate news: 

”” Struggling women's clothing company Talbots Inc. jumped 70 percent after private-equity firm Sycamore Partners made a $205.2 million takeover offer. 

”” Men's Wearhouse Inc. surged 20 percent after reporting third-quarter results that topped Wall Street's expectations. The company also raised its full-year earnings forecast. 

”” SAIC Inc. rose 6.6 percent after the defense contractor reported results that beat Wall Street's expectations. 

”” First Solar Inc. jumped 4 percent after the company reached a deal to sell a planned California energy farm to MidAmerican Energy Holdings Co.


----------



## bigdog

Source: http://finance.yahoo.com


*The NYSE DOW NYSE DOW closed   -198.67  points   LOWER or  -1.63%   on Thursday December 8*
Sym .......Last .......Change..........
Dow  11,997.70  -198.67 -1.63% 
Nasdaq  2,596.38  -52.83 -1.99% 
S&P 500  1,234.35  -26.66 -2.11% 
30-yr Bond  3.0000 % -0.0460 

NYSE Volume  4,224,843,500  
Nasdaq Volume  1,843,290,125 


*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,483.77 -63.14 -1.14% 
DAX 5,874.44 -120.29 -2.01% 
CAC 40 3,095.49 -80.49 -2.53% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,338.90  -12.40 -0.28% 
Shanghai Comp   2,329.82  -2.91  -0.12% 
Taiwan Wei...  6,982.90  -50.10 -0.71% 
Nikkei 225  8,664.58  -57.59 -0.66% 
Hang Seng  19,107.81  -132.77 -0.69% 
STRAITS TIMES 2,728.31  -54.24  -1.95%


----------



## bigdog

Source: http://finance.yahoo.com

A deal to forge stronger ties between most of Europe's economies sent stocks sharply higher Friday as hopes grew that the region is close to resolving its debt crisis. The Dow Jones industrial average rose 186 points. 

The Dow and S&P 500 both had their second straight week of gains. Financial stocks rose the most over the week as worries eased about Europe. The yield on the 10-year Treasury note rose back above 2 percent as investors shed low-risk investments. 

All 17 nations that use the euro agreed to sign a treaty that allows a central European authority closer oversight of their budgets. Nine other EU nations are considering it. Britain is the lone holdout. 

The agreement came after marathon overnight talks among European leaders at a two-day summit in Brussels. A deal on tighter fiscal control is considered a crucial step before the European Central Bank will consider committing more money to lower borrowing costs of heavily indebted countries like Italy and Spain by buying their bonds. 

Ryan Detrick, senior technical strategist with Schaffer's Investment Research, cautioned that investors have been disappointed by Europe's previous efforts to contain its debt crisis. The market will likely remain volatile in the coming weeks, Detrick said, because the Europe plan is "only a minor step" toward a solution. 

"We've seen these agreements before, and they can just as easily deteriorate," Detrick said. 

The Dow closed up 186.56 points, or 1.6 percent, at 12,184.26. It's up 1.4 percent for the week. 

Bank stocks led the market higher, reflecting traders' optimism about Europe's progress toward solving its crisis. Citigroup Inc. rose 3.7 percent, Morgan Stanley 3.1 percent and JPMorgan Chase & Co. 3 percent. 

Banks have been weighed down for months by fears about their exposure to Europe. The biggest European banks have been downgraded. If Europe's crisis spins out of control, U.S. banks that do business with them would also suffer because of the closely intertwined relationships between global lenders and financial markets. 

The Standard & Poor's 500 index closed up 20.84 points, or 1.7 percent, at 1,255.19. The Nasdaq composite index finished up 50.47, or 1.9 percent, at 2,646.85. The S&P is up 0.9 percent for the week, the Nasdaq 0.8 percent.

*The NYSE DOW NYSE DOW closed  +186.56   points HIGHER or +1.55%    on Friday December 9*
Sym .......Last .......Change..........
Dow  12,184.26  +186.56 +1.55% 
Nasdaq  2,646.85  +50.47 +1.94% 
S&P 500  1,255.19  +20.84 +1.69% 
30-yr Bond  3.1000 % +0.1030 

NYSE Volume  3,830,617,250  
Nasdaq Volume  1,680,372,375  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,529.21  +45.44 +0.83% 
DAX 5,986.71  +112.27  +1.91%
CAC 40 3,172.35  +76.86  +2.48% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,264.10  -74.80 -1.72% 
Shanghai Comp   2,315.27 -14.55 -0.62%
Taiwan Wei...  6,893.30  -89.60 -1.28% 
Nikkei 225  8,536.46  -128.12 -1.48% 
Hang Seng  18,586.23  -521.58 -2.73% 
Strait Times 2,694.60  -33.71  -1.24% 

http://finance.yahoo.com/news/Stocks-close-higher-Europe-apf-530243834.html?x=0

*Stocks close higher as Europe nears budget pact

Stocks close sharply higher as most of Europe agrees to fiscal coordination plan*

By Daniel Wagner, AP Business Writer 

A deal to forge stronger ties between most of Europe's economies sent stocks sharply higher Friday as hopes grew that the region is close to resolving its debt crisis. The Dow Jones industrial average rose 186 points. 

The Dow and S&P 500 both had their second straight week of gains. Financial stocks rose the most over the week as worries eased about Europe. The yield on the 10-year Treasury note rose back above 2 percent as investors shed low-risk investments. 

All 17 nations that use the euro agreed to sign a treaty that allows a central European authority closer oversight of their budgets. Nine other EU nations are considering it. Britain is the lone holdout. 

The agreement came after marathon overnight talks among European leaders at a two-day summit in Brussels. A deal on tighter fiscal control is considered a crucial step before the European Central Bank will consider committing more money to lower borrowing costs of heavily indebted countries like Italy and Spain by buying their bonds. 

Ryan Detrick, senior technical strategist with Schaffer's Investment Research, cautioned that investors have been disappointed by Europe's previous efforts to contain its debt crisis. The market will likely remain volatile in the coming weeks, Detrick said, because the Europe plan is "only a minor step" toward a solution. 

"We've seen these agreements before, and they can just as easily deteriorate," Detrick said. 

The Dow closed up 186.56 points, or 1.6 percent, at 12,184.26. It's up 1.4 percent for the week. 

Bank stocks led the market higher, reflecting traders' optimism about Europe's progress toward solving its crisis. Citigroup Inc. rose 3.7 percent, Morgan Stanley 3.1 percent and JPMorgan Chase & Co. 3 percent. 

Banks have been weighed down for months by fears about their exposure to Europe. The biggest European banks have been downgraded. If Europe's crisis spins out of control, U.S. banks that do business with them would also suffer because of the closely intertwined relationships between global lenders and financial markets. 

The Standard & Poor's 500 index closed up 20.84 points, or 1.7 percent, at 1,255.19. The Nasdaq composite index finished up 50.47, or 1.9 percent, at 2,646.85. The S&P is up 0.9 percent for the week, the Nasdaq 0.8 percent. 

The gains were broad. DuPont was the only stock among the 30 in the Dow average to fall. The chemical and materials company slid 3.2 percent after saying it expects earnings this year will fall well short of Wall Street's forecasts because of weak demand for electronics and industrial supplies. 

It was the second consecutive week of gains for all three indexes. Stocks were pummeled two weeks ago as borrowing costs soared for European nations such as Italy. They recovered last week after the world's major central banks announced a program to give commercial banks easier, cheaper access to loans in U.S. dollars. 

Both the Dow and the S&P have risen 14 percent since hitting yearly lows on Oct. 3. Only the Dow, however, is higher for the year. The Dow's up 5.2 percent for 2011; the S&P and Nasdaq are each down 0.2 percent. 

Trading volume was very light. Just 3.6 billion shares were traded on the New York Stock Exchange, well below the recent daily average of 4.7 billion. 

The yield on the 10-year Treasury note rose to 2.07 percent from 1.97 percent late Thursday, signaling lower demand for ultra-safe investments. The rise followed news that a survey of U.S. consumer sentiment hit a six-month high this month, better than Wall Street expected. Stocks barely reacted. 

"The U.S. is showing definite signs of improving on the economic front, yet we almost ignore it, and every day we seem to focus on European issues," Detrick said. 

Many think the only path out of the debt crisis is a more active role by the European Central Bank, which can buy up government debt to keep nations' borrowing costs down. It currently buys bonds in the markets, but only reluctantly, and in small quantities. 

Germany and France, the two biggest economies in the euro zone, had hoped to persuade all 27 members of the European Union to change an EU treaty and impose tight fiscal rules on its members. Britain refused to join in because it wanted to be exempt from proposed financial rules. 

Among other companies making big moves: 

— Pall Corp. surged 7.9 percent after the filtration equipment maker reported fiscal first-quarter earnings that far exceeded analysts' expectations. 

— The Cooper Cos. Inc. leaped 16.6 percent after the eye care company topped expectations with its fiscal fourth-quarter performance. 

— GE rose 3.2 percent after the manufacturing giant said it will increase its quarterly dividend by 2 cents to 17 cent per share, GE's fourth increase in two years.

0910


----------



## bigdog

Source: http://finance.yahoo.com

Stocks closed sharply lower Monday after two big rating agencies criticized a fiscal pact between European leaders last week that is aimed at easing the region's debt crisis. 

Fitch Ratings said the deal to bind Europe's budgets more closely will make little difference. The region will face "a significant economic downturn" as it wrestles with its sovereign debt crisis for another year or more, Fitch predicted. 

The Dow Jones industrial average dropped as many as 243 points in afternoon trading before closing down 163. Intel Corp. dragged the Dow lower, falling 4 percent after the chipmaker said its fourth-quarter revenue will be lower than expected because of supply chain problems. Intel is considered a bellwether for the computer industry because its chips are used in a wide range of products. 

The euro hit a 10-week low against the dollar, plunging nearly 2 cents. Yields on Italian bonds rose as investors fretted about that nation's debt burden. European stocks fell. 

Moody's Investors Service said that it will review the credit ratings of all European Union nations in the first quarter of next year. The statement doused optimism among investors that had lifted stocks and other risky assets late last week. 

The summit produced "few new measures" and Europe remains in a "critical and volatile stage," Moody's said in a published report. The pact, Moody's noted, does not address Europe's immediate problem: the crushing debt loads of some nations and their rising borrowing costs. 

The agreement "kicks off a process that has a chance of solving the next crisis, not this one," said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott. "The problem is the changes they've agreed to go toward solving the root of current problems 12 months from now." 

Stocks fell broadly, with declines across all 10 industry groups in the Standard & Poor's 500 index and 28 of the 30 stocks in the Dow. 

The Dow closed down 162.87 points, or 1.3 percent, at 12,021.39. The S&P 500 lost 18.72, or 1.5 percent, to close at 1,236.47. The Nasdaq composite index dropped 34.59, or 1.3 percent, to close at 2,612.26. 

*The NYSE DOW NYSE DOW closed  -162.87    points  LOWER or  -1.34%   on Monday December 12*
Sym .......Last .......Change..........
Dow  12,021.39  -162.87 -1.34% 
Nasdaq  2,612.26  -34.59 -1.31% 
S&P 500  1,236.47  -18.72 -1.49% 
30-yr Bond  3.0500 % -0.0540 

NYSE Volume  3,638,212,750  
Nasdaq Volume  1,579,970,250  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,427.86  -101.35 -1.83% 
DAX 5,785.43 -201.28 -3.36% 
CAC 40 3,089.59 -82.76 -2.61%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,311.40  +47.30 +1.11% 
Shanghai Comp  2,291.54   -23.73 -1.02% 
Taiwan Wei...  6,949.04  +55.74 +0.81%
Nikkei 225  8,653.82  +117.36 +1.37% 
Hang Seng  18,575.66  -10.57 -0.06% 
Straits Times   2,701.72   +7.12 +0.26% 

http://finance.yahoo.com/news/Stocks-fall-rating-agencies-apf-479626456.html?x=0

*Stocks fall as rating agencies knock euro deal

US stocks fall as rating agencies knock Europe's fiscal pact; fears about debt crisis persist*



NEW YORK (AP) -- Stocks closed sharply lower Monday after two big rating agencies criticized a fiscal pact between European leaders last week that is aimed at easing the region's debt crisis. 

Fitch Ratings said the deal to bind Europe's budgets more closely will make little difference. The region will face "a significant economic downturn" as it wrestles with its sovereign debt crisis for another year or more, Fitch predicted. 

The Dow Jones industrial average dropped as many as 243 points in afternoon trading before closing down 163. Intel Corp. dragged the Dow lower, falling 4 percent after the chipmaker said its fourth-quarter revenue will be lower than expected because of supply chain problems. Intel is considered a bellwether for the computer industry because its chips are used in a wide range of products. 

The euro hit a 10-week low against the dollar, plunging nearly 2 cents. Yields on Italian bonds rose as investors fretted about that nation's debt burden. European stocks fell. 

Moody's Investors Service said that it will review the credit ratings of all European Union nations in the first quarter of next year. The statement doused optimism among investors that had lifted stocks and other risky assets late last week. 

The summit produced "few new measures" and Europe remains in a "critical and volatile stage," Moody's said in a published report. The pact, Moody's noted, does not address Europe's immediate problem: the crushing debt loads of some nations and their rising borrowing costs. 

The agreement "kicks off a process that has a chance of solving the next crisis, not this one," said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott. "The problem is the changes they've agreed to go toward solving the root of current problems 12 months from now." 

Stocks fell broadly, with declines across all 10 industry groups in the Standard & Poor's 500 index and 28 of the 30 stocks in the Dow. 

The Dow closed down 162.87 points, or 1.3 percent, at 12,021.39. The S&P 500 lost 18.72, or 1.5 percent, to close at 1,236.47. The Nasdaq composite index dropped 34.59, or 1.3 percent, to close at 2,612.26. 

Financial stocks had some of the steepest declines. Investors fear that big banks might be damaged by the turmoil in Europe. Morgan Stanley fell 6.1 percent, Citigroup Inc. 5.4 percent. Bank of America Corp. and JPMorgan Chase & Co. posted the biggest and third-biggest losses in the Dow 30, falling 4.7 percent and 3.4 percent, respectively. 

The warning from Moody's helped deflate optimism about last week's pact, which called for tougher fiscal discipline among European countries and a central authority with the ability to punish those that spend too much. 

The yield on the 10-year Treasury note fell to 2.02 percent from 2.07 percent late Friday, indicating stronger demand for low-risk investments. Bond yields fall as demand for them increases. 

Fears that Italy or Spain will default reduced demand for their government bonds, driving their yields higher and pushing their borrowing costs near the dangerous levels that forced Greece, Portugal and Ireland to take bailouts. The yield on the 10-year Italian bond rose to 6.53 percent. Greece and Portugal were forced to seek bailouts from their creditors when their bond yields approached 7 percent. 

Stocks in Italy led European markets to a much lower close. Italy's main index closed down 3.8 percent. Germany's DAX lost 3.4 percent and Spain's fell 3.1 percent. 

Among the top corporate movers: 

”” Endo Pharmaceuticals Holdings Inc. jumped 6 percent after federal regulators approved a new form of one of its pain medications, extending its patent rights over the drug. 

”” Diamond Foods Inc. plunged 22.8 percent after reports of an investigation of its payments to walnut farmers. Lawsuits already have been filed, and more are expected. 

”” Vulcan Materials Co. shot up 15.4 percent, the most in the S&P 500, after Martin Marietta Materials Inc. made an unsolicited bid to buy the company for $4.74 billion in stock. Martin Marietta rose 1.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com

A late afternoon slide pulled stock indexes lower after the Federal Reserve held off on any new steps to boost the economy. The Fed cautioned that strains in global financial markets still pose a danger, a nod to Europe's debt crisis. 

The Dow Jones industrial average fell 66.45 points, or 0.6 percent, to close at 11,954.94. The Dow dropped more than 70 points in the last hour of trading and had risen as high as 126 points earlier Tuesday after two strong auctions of European debt. 

The Standard & Poor's 500 index fell 10.74 points, or 0.9 percent, to 1,225.73. The Nasdaq composite fell 32.99 points, or 1.3 percent, to 2,579.27. 

The Federal Reserve portrayed the U.S. economy as slightly healthier but cautioned that it remains vulnerable to the European debt crisis. "Strains in global financial markets continue to pose significant downside risks to the economic outlook," the Fed said. Stock indexes turned lower after the Fed released its policy statement at 2:15 p.m. 

Stocks had been higher for most of the day after the Spanish government was able to sell short-term debt at much lower interest rates compared with a month ago, a signal that markets are becoming less fearful about the government's ability to repay its debt. 

In its first sale of short-term bills, the European Financial Stability Fund raised 1.9 billion euros ($2.6 billion) from investors at an average rate of 0.22 percent. That's below the rate Germany pays for the similar bills. "This is an amazing success," Carl Weinberg, chief economist at High Frequency Economics, wrote in a note to clients. 

The Dow sank 162 points Monday when Moody's and Fitch warned that the fiscal agreement reached last week among European leaders fell far short of what was needed to contain that region's debt crisis. 

Barring any big news out of Europe, stocks are likely to be stuck in a range for the rest of the week, said Tim Hoyle, director of research at Haverford Investments. Trying to guess which way the market is going to go any day is a "fool's errand," he said. 

*The NYSE DOW NYSE DOW closed  66.45    points   LOWER or  -0.55%   on Tuesday December 13*
Sym .......Last .......Change..........
Dow  11,954.94  -66.45 -0.55% 
Nasdaq  2,579.27  -32.99 -1.26% 
S&P 500  1,225.73  -10.74 -0.87% 
30-yr Bond  3.0000 % -0.0470 

NYSE Volume  4,081,448,500  
Nasdaq Volume  1,770,145,500  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,490.15  +62.29 +1.15% 
DAX 5,774.26 -11.17  -0.19%  
CAC 40 3,078.72 -10.87 -0.35% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,251.70  -59.70 -1.38% 
Shanghai Comp  2,248.59   -42.95 -1.87% 
Taiwan Wei...  6,896.31  -52.73 -0.76% 
Nikkei 225  8,552.81  -101.01 -1.17% 
Hang Seng  18,447.17  -128.49 -0.69% 
Straits Times 2,688.44   -13.28 -0.49% 

http://finance.yahoo.com/news/stock-gains-fade-fed-warns-201540833.html

*Stock gains fade as Fed warns of market strains

Stocks drop as Fed refrains from new steps, cautions of strains in financial markets*

By Matthew Craft, AP Business Writer 

NEW YORK (AP) -- A late afternoon slide pulled stock indexes lower after the Federal Reserve held off on any new steps to boost the economy. The Fed cautioned that strains in global financial markets still pose a danger, a nod to Europe's debt crisis. 

The Dow Jones industrial average fell 66.45 points, or 0.6 percent, to close at 11,954.94. The Dow dropped more than 70 points in the last hour of trading and had risen as high as 126 points earlier Tuesday after two strong auctions of European debt. 

The Standard & Poor's 500 index fell 10.74 points, or 0.9 percent, to 1,225.73. The Nasdaq composite fell 32.99 points, or 1.3 percent, to 2,579.27. 

The Federal Reserve portrayed the U.S. economy as slightly healthier but cautioned that it remains vulnerable to the European debt crisis. "Strains in global financial markets continue to pose significant downside risks to the economic outlook," the Fed said. Stock indexes turned lower after the Fed released its policy statement at 2:15 p.m. 

Stocks had been higher for most of the day after the Spanish government was able to sell short-term debt at much lower interest rates compared with a month ago, a signal that markets are becoming less fearful about the government's ability to repay its debt. 

In its first sale of short-term bills, the European Financial Stability Fund raised 1.9 billion euros ($2.6 billion) from investors at an average rate of 0.22 percent. That's below the rate Germany pays for the similar bills. "This is an amazing success," Carl Weinberg, chief economist at High Frequency Economics, wrote in a note to clients. 

The Dow sank 162 points Monday when Moody's and Fitch warned that the fiscal agreement reached last week among European leaders fell far short of what was needed to contain that region's debt crisis. 

Barring any big news out of Europe, stocks are likely to be stuck in a range for the rest of the week, said Tim Hoyle, director of research at Haverford Investments. Trying to guess which way the market is going to go any day is a "fool's errand," he said. 

The Commerce Department reported Tuesday that retail sales rose for the sixth straight month in November. Sales increased just 0.2 percent, below what analysts had expected. But the government also revised the previous month's slightly higher. Hoyle called that the encouraging part. "It reassures you that the economy is going in the right direction," Hoyle said. 

Consumer discretionary stocks fell more than the rest of the market. Electronics retailer Best Buy plunged 15 percent. The company said its third-quarter income sank 29 percent as it cut prices on tablets and TVs to drive sales and traffic during the busy holiday season. 

Energy giants made gains as crude oil climbed back above $100. Exxon Mobil Corp. and Chevron Corp. added half a percent. 

The Vix, a measure of stock market volatility, fell to 25 and has dropped 8 percent so far this month. The index remained above 30 from early August until last week. Hoyle said a sustained fall in the Vix usually is followed by a rise in stock prices. The recent trend "sets us up for a little Santa Claus rally between now and the end of the year." 

In other corporate news: 

”” Pfizer Inc. gained 1.8 percent, the most of the 30 companies in the Dow. The drugmaker said it plans to buy back up to $10 billion of its own stock. 

”” Urban Outfitters jumped 5.3 percent, the most in the S&P 500 index, after the retailer said its sales were rising faster than analysts were expecting. The Philadelphia-based company owns Urban Outfitters stores, Anthropologie and Free People. 

”” Sprint Nextel Corp. rose less than 1 percent as it looked like its rival AT&T Inc. would be unable to pull off an acquisition of T-Mobile USA. Sprint agreed to drop a lawsuit against AT&T now that the deal appears to be in jeopardy. Sprint had been lobbying to stop it.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow is now down 3 percent for the week, while S&P has lost 3.5 percent. The Nasdaq is down 4 percent. 

A growing sense that Europe's leaders have failed to contain that region's debt crisis swept through financial markets Wednesday. 

It started with the euro dropping below $1.30 for the first time since January and a jump in borrowing costs for Italian government debt. By the end of the trading day the Dow had lost 131 points, European stock indexes fell as much as 3 percent and gold dropped $76, ending below $1,600 an ounce for the first time in more than two months. 

Investors dumped assets that might be seen as risky and piled into the most conservative ones around: the dollar and U.S. government debt. 

The market appears to be in "sell now and ask questions later mode," said John Canally, investment strategist at LPL Financial. 

Since European leaders reached an agreement to rein in future government budget deficits last week, investors and credit rating agencies have criticized the deal for failing to address current problems. "Markets are impatient," Canally said. "They still can't see how all these efforts will get this situation stabilized." 

Italy had to pay higher borrowing rates in its last bond auction of the year Wednesday. The euro zone's third-largest economy paid 6.47 percent interest to borrow â‚¬3 billion ($3.95 billion) for five years, up from 6.30 percent just a month ago. The higher rates make it more expensive for Italy to borrow money and reflect rising doubts that the country will be able to repay its debts. 

The Dow Jones industrial average fell 131.46 points, or 1.1 percent, to close at 11,823.48. Caterpillar Inc. fell 4.4 percent, the worst drop among the 30 stocks in the Dow. 

*The NYSE DOW NYSE DOW closed -131.46  points LOWER or  -1.10% on Wednesday December 14*
Sym .......Last .......Change..........
Dow  11,823.48  -131.46 -1.10% 
Nasdaq  2,539.31  -39.96 -1.55% 
S&P 500  1,211.82  -13.91 -1.13% 
30-yr Bond  2.9000 % -0.0940 

NYSE Volume  4,233,378,500  
Nasdaq Volume  1,804,674,875  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,366.80  -61.06 -1.12% 
DAX 5,675.14 -99.12 -1.72% 
CAC 40 2,976.17 -102.55 -3.33%

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,249.80  -1.90 -0.04% 
Shanghai Comp   2,228.53   -20.06 -0.89% 
Taiwan Wei...  6,922.57  +26.26 +0.38% 
Nikkei 225  8,519.13  -33.68 -0.39% 
Hang Seng  18,354.43  -92.74 -0.50% 
Straits Times 2,672.39   -13.35 -0.50% 

http://finance.yahoo.com/news/stocks-euro-slide-worries-europe-171614375.html

*Stocks, euro slide as worries about Europe persist

Stocks fall as Europe shows further signs of weakness; euro falls below $1.30*

By Matthew Craft, AP Business Writer 

NEW YORK (AP) -- A growing sense that Europe's leaders have failed to contain that region's debt crisis swept through financial markets Wednesday. 

It started with the euro dropping below $1.30 for the first time since January and a jump in borrowing costs for Italian government debt. By the end of the trading day the Dow had lost 131 points, European stock indexes fell as much as 3 percent and gold dropped $76, ending below $1,600 an ounce for the first time in more than two months. 

Investors dumped assets that might be seen as risky and piled into the most conservative ones around: the dollar and U.S. government debt. 

The market appears to be in "sell now and ask questions later mode," said John Canally, investment strategist at LPL Financial. 

Since European leaders reached an agreement to rein in future government budget deficits last week, investors and credit rating agencies have criticized the deal for failing to address current problems. "Markets are impatient," Canally said. "They still can't see how all these efforts will get this situation stabilized." 

Italy had to pay higher borrowing rates in its last bond auction of the year Wednesday. The euro zone's third-largest economy paid 6.47 percent interest to borrow â‚¬3 billion ($3.95 billion) for five years, up from 6.30 percent just a month ago. The higher rates make it more expensive for Italy to borrow money and reflect rising doubts that the country will be able to repay its debts. 

The Dow Jones industrial average fell 131.46 points, or 1.1 percent, to close at 11,823.48. Caterpillar Inc. fell 4.4 percent, the worst drop among the 30 stocks in the Dow. 

Canally said the fear that another bank failure will lead to a financial crisis like Lehman Brothers did in 2008 overshadows everything else, he said. Markets are so jittery now that traders see a slight drop in the euro or a small rise in Italian government bond yields as a step toward a wider collapse. 

The Standard & Poor's 500 index fell 13.91 points, or 1.1 percent, to 1,211.82. The Nasdaq fell 39.96, or 1.6 percent to 2,539.31. 

Gold dropped 4.6 percent to settle at $1,586, the lowest closing price since July. Commodity prices tend to fall when the dollar gains strength, since a stronger dollar makes it more expensive for investors using other currencies to buy commodities, which are priced in dollars. 

The yield on the 10-year Treasury note dropped to 1.91 percent from 1.96 percent late Tuesday as demand increased for ultrasafe assets. High demand for U.S. government debt helped the government sell $13 billion in 30-year bonds at a record low rate of 2.92 percent. In a note to clients, strategists at Nomura said "the insatiable appetite" for Treasurys at such low yields implies that bond buyers are readying themselves for "the end-of-the-euro-trade." 

The dollar also rose against other currencies. The euro shed about a penny against the dollar to $1.29 and has now lost 3 percent in three days. 

European markets fell broadly. Germany's DAX dropped 1.7 percent; France's main stock index lost 3.3 percent. 

Energy stocks led the U.S. stock market lower after the price of crude oil lost $5 to $94.95 a barrel. Apache Corp. shed 5 percent and Chevron Corp 2.9 percent. 

First Solar Inc. plunged 21 percent, the biggest drop in the S&P 500, after the country's largest solar company slashed its earnings estimate for the year. The solar industry has been hit hard by slower economic growth around the world and as government funding for alternative energy projects has dried up. 

Avon jumped 5 percent, the largest gain in the S&P 500. The company announced late Tuesday that its CEO, Andrea Jung, will step down. The cosmetics company has been struggling with erratic financial results and is under scrutiny by regulators. 

The Dow is now down 3 percent for the week, while S&P has lost 3.5 percent. The Nasdaq is down 4 percent.


----------



## bigdog

Source: http://finance.yahoo.com

Investors shifted their attention from Europe to the U.S. on Thursday, pushing stocks slightly higher on good jobs and manufacturing reports. 

The Dow Jones industrial average rose 45.33 points, or 0.4 percent, to 11,868.81. The Dow had lost 360 points over the past three days on worries that Europe's latest plan to keep its currency union intact would fail. 

Jack Ablin, chief investment officer at Harris Bank, said the break from selling meant that investors are starting to focus on signs of strength in the U.S. economy. 

"We're not completely insulated (from Europe), but trouble there doesn't necessary spell problems for us," he said. 

Before the market opened, the government reported that the number of people applying for unemployment benefits dropped sharply last week to 366,000, the fewest level since May 2008. That's a sign that layoffs are easing, a first step toward bringing down the unemployment rate, which currently stands at 8.6 percent. 

Investors were also encouraged by report from the Federal Reserve of New York that its index measuring regional manufacturing jumped to the highest level since May. That was far more than economists were expecting. A similar report from the Philadelphia branch of the Fed also increased faster than analysts anticipated. 

"The base of the economy is getting stronger," said Steven Malin, an associate at money manager Aronson Johnson Ortiz. 

FedEx Corp. reported that its quarterly income nearly doubled on strong growth in online shopping during the holiday season. FedEx is seen as a bellwether for the economy. Its stock jumped 8 percent. 

The Standard & Poor's 500 rose 3.94 points, or 0.3 percent, to 1,215.76. The gains were broad. All but two of the 10 industry groups in the index rose. The two groups ”” technology and energy ”” edged down less than 0.3 percent each. 

*The NYSE DOW NYSE DOW closed +45.33  points HIGHER or  +0.38%  on Thursday December 15*
Sym .......Last .......Change..........
Dow  11,868.81  +45.33 +0.38% 
Nasdaq  2,541.01  +1.70 +0.07% 
S&P 500  1,215.75  +3.93 +0.32% 
30-yr Bond  2.9300 % +0.0210 

NYSE Volume  3,848,143,750  
Nasdaq Volume  1,757,437,875  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,400.85  +34.05 +0.63% 
CAC 40 2,998.73   +22.56 +0.76%
DAX 5,730.62 +55.48 +0.98% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,197.80  -52.00 -1.22% 
Shanghai Comp   2,180.90   -47.63 -2.14% 
Taiwan Wei...  6,764.59  -157.98 
Nikkei 225  8,377.37  -141.76 -1.66% 
Hang Seng  18,026.84  -327.59 -1.78% 
Straits Times 2,635.25   -37.14 -1.39% 

http://finance.yahoo.com/news/better-manufacturing-jobs-news-send-211312435.html

*Better manufacturing, jobs news send stocks higher

Stocks edge higher, breaking three-day losing streak; FedEx earnings soar, jobless claims fall*

By Bernard Condon, AP Business Writer 

NEW YORK (AP) -- Investors shifted their attention from Europe to the U.S. on Thursday, pushing stocks slightly higher on good jobs and manufacturing reports. 

The Dow Jones industrial average rose 45.33 points, or 0.4 percent, to 11,868.81. The Dow had lost 360 points over the past three days on worries that Europe's latest plan to keep its currency union intact would fail. 

Jack Ablin, chief investment officer at Harris Bank, said the break from selling meant that investors are starting to focus on signs of strength in the U.S. economy. 

"We're not completely insulated (from Europe), but trouble there doesn't necessary spell problems for us," he said. 

Before the market opened, the government reported that the number of people applying for unemployment benefits dropped sharply last week to 366,000, the fewest level since May 2008. That's a sign that layoffs are easing, a first step toward bringing down the unemployment rate, which currently stands at 8.6 percent. 

Investors were also encouraged by report from the Federal Reserve of New York that its index measuring regional manufacturing jumped to the highest level since May. That was far more than economists were expecting. A similar report from the Philadelphia branch of the Fed also increased faster than analysts anticipated. 

"The base of the economy is getting stronger," said Steven Malin, an associate at money manager Aronson Johnson Ortiz. 

FedEx Corp. reported that its quarterly income nearly doubled on strong growth in online shopping during the holiday season. FedEx is seen as a bellwether for the economy. Its stock jumped 8 percent. 

The Standard & Poor's 500 rose 3.94 points, or 0.3 percent, to 1,215.76. The gains were broad. All but two of the 10 industry groups in the index rose. The two groups ”” technology and energy ”” edged down less than 0.3 percent each. 

The biggest gains came from utilities and health care. The profits of those companies are less likely to crumble in an economic slowdown. That suggests that investors, though encouraged by the good news Thursday, were still playing it safe. 

"There's a defensive tone to the market," said Jeff Schwarte, a portfolio manager at Principal Global Investors. "Investors still aren't sure about the economy." 

The Nasdaq rose 1.70 points, less than 0.1 percent, to 2,541.01. 

In corporate news, Michael Kors Holdings Ltd. jumped 21 percent to $24.20 on its first day of trading. The initial public offering valued the fashion design company at $3.8 billion. 

Novellus Systems Inc. jumped 16 percent. The semiconductor equipment maker said late Wednesday that it was being acquired by rival Lam Research Corp. Lam fell 8 percent. 

Rite Aid Corp. rose 3.5 percent. The drugstore chain announced that losses had narrowed in its third quarter. 

European markets rose slightly, a day after big declines, as an auction of Spanish government bonds drew strong demand from investors. Germany's DAX rose 1 percent; France's main stock index rose 0.6 percent. 

The euro rose against the dollar, moving back above $1.30, a day after hitting an 11-month low. The yields on Spanish and Italian government fell, a sign that investors were less worried about the ability of those countries to pay back their debts.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow Jones industrial average closed down 2.42 points at 11,866.93. 

The Standard & Poor's 500 index rose 3.91, or 0.3 percent, to 1,219.66. The Nasdaq composite index rose 14.32, or 0.6 percent, to 2,555.33 The Dow is down 2.6 percent for the week; the S&P 2.8 percent. The Nasdaq lost 3.5 percent.

An early rally faded on the stock market Friday, leaving indexes down about 3 percent for the week as worries resurfaced about a breakup of the euro. 

BlackBerry maker Research in Motion plunged after slashing its forecast for holiday sales. The IPO of online game maker Zynga Inc. didn't live up to its lofty expectations. The stock lost 5 percent on its first day of trading 

The Dow Jones industrial average closed down 2 points. It was up as many as 99 points in the morning after the Italian government won a confidence vote on austerity measures. That gain evaporated around midday after Fitch warned that it might downgrade the debt of Italy, Spain and four other countries that use the euro. After markets closed, Moody's downgraded Belgium's debt two notches and said more cuts were possible. 

Materials and industrial companies rose, signaling that traders expect the U.S. economic recovery to remain on track. Utilities, health care and consumer staples companies lagged the market as traders sold stocks that are considered to be safer when the economy is weak. 

The Dow Jones industrial average broke a three-day slump Thursday on news that claims for unemployment benefits plunged last week and measures of manufacturing in the Northeast improved dramatically. The Dow lost 360 points over the first three days of the week as investors questioned whether Europe's agreement to closer coordinate fiscal policy would be enough to save the euro from a catastrophic breakup. 

*The NYSE DOW NYSE DOW closed   -2.42   points  LOWER or -0.02%    on Friday December 16*
Sym .......Last .......Change..........
Dow  11,866.39  -2.42 -0.02% 
Nasdaq  2,555.33  +14.32 +0.56% 
S&P 500  1,219.66  +3.91 +0.32% 
30-yr Bond  2.8600 % -0.0710 

NYSE Volume  5,345,795,500  
Nasdaq Volume  2,857,872,750  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,387.34 -13.51 -0.25% 
DAX 5,701.78 -28.84 -0.50% 
CAC 40 2,972.30 -26.43 -0.88% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,218.80  +21.00 +0.50% 
Shanghai Comp  2,224.84 +43.95 +2.02% 
Taiwan Wei...  6,785.09  +20.50 +0.30% 
Nikkei 225  8,401.72  +24.35 +0.29% 
Hang Seng  18,285.39  +258.55 +1.43% 
Straits Times 2,659.22   +23.97 +0.91% 

http://finance.yahoo.com/news/Early-rally-fades-stock-apf-629583105.html?x=0

*Early rally fades; stock market down for the week

An early rally fades on the stock market; indexes down 3 percent for the week on euro worries*

By Daniel Wagner, AP Business Writer 

An early rally faded on the stock market Friday, leaving indexes down about 3 percent for the week as worries resurfaced about a breakup of the euro. 

BlackBerry maker Research in Motion plunged after slashing its forecast for holiday sales. The IPO of online game maker Zynga Inc. didn't live up to its lofty expectations. The stock lost 5 percent on its first day of trading 

The Dow Jones industrial average closed down 2 points. It was up as many as 99 points in the morning after the Italian government won a confidence vote on austerity measures. That gain evaporated around midday after Fitch warned that it might downgrade the debt of Italy, Spain and four other countries that use the euro. After markets closed, Moody's downgraded Belgium's debt two notches and said more cuts were possible. 

Materials and industrial companies rose, signaling that traders expect the U.S. economic recovery to remain on track. Utilities, health care and consumer staples companies lagged the market as traders sold stocks that are considered to be safer when the economy is weak. 

The Dow Jones industrial average broke a three-day slump Thursday on news that claims for unemployment benefits plunged last week and measures of manufacturing in the Northeast improved dramatically. The Dow lost 360 points over the first three days of the week as investors questioned whether Europe's agreement to closer coordinate fiscal policy would be enough to save the euro from a catastrophic breakup. 

Phil Orlando, chief equity market strategist at Federated Investors, said investors are holding back until they get a "firmer resolution" to Europe's debt morass and more progress in Washington on reforming entitlements, balancing the budget and getting the country growing again. "Right, now we don't have anything to offer them," he said. 

Some analysts believe nervousness about Europe this fall and winter pushed stock prices too far. Investment adviser Uri Landesman, president of Platinum Partners, expects stocks to rise into next year because of the growing likelihood that economic news and European headlines will remain positive. 

"The odds are, the news is going to be better than the market is discounting," Landesman said. He said the market is near the low end of its recent trading range, and a dose of positive news could set off a mini-rally. Any market moves next week could be sharp as trading volume thins out before the Christmas holiday, Landesman said. 

The Dow Jones industrial average closed down 2.42 points at 11,866.93. 

The Standard & Poor's 500 index rose 3.91, or 0.3 percent, to 1,219.66. The Nasdaq composite index rose 14.32, or 0.6 percent, to 2,555.33 The Dow is down 2.6 percent for the week; the S&P 2.8 percent. The Nasdaq lost 3.5 percent. 

The yield on the 10-year Treasury note plunged to 1.85 percent from 1.93 percent earlier Friday after the government said consumer prices were unchanged last month, suggesting that inflation remains low. Low inflation makes bonds more attractive because it doesn't diminish the buying power of the fixed return a bond provides over time. 

Seven of the 10 industry groups in the S&P 500 index rose, with the only declines showing up in health care, consumer staples, and utilities. The biggest gains were in energy, materials and industrial companies. U.S. factories in some regions have had higher shipments and orders month, according to two surveys released Thursday. Materials companies are benefiting from soaring commodity prices. 

Research In Motion Ltd. plummeted 11 percent after the company said late Thursday that new phones seen as critical to its future will be delayed until late next year. RIM also is taking a big loss on unsold tablet computers and predicted that its BlackBerry sales will fall sharply during the holiday sales season. 

Zynga, which makes "Farmville" and other popular games, fell 5 percent to $9.50 in its first day of trading on the Nasdaq. The initial public offering was priced late Thursday at $10 per share, raising $1 billion. That means the San Francisco company can boast the biggest Internet IPO since Google Inc. first offered shares in 2004. 

Among the other companies making big moves: 

— New York-area cable TV provider Cablevision Systems Corp. plunged 9 percent following the sudden departure of its chief operating officer, Tom Rutledge. 

— Adobe Systems Inc. jumped 6.6 percent after the software maker reported earnings and revenues that were far better than what analysts had expected. Analyst Walter Pritchard at Citigroup said the quarter was a "blow-out when most expected weakness."

1688


----------



## bigdog

Source: http://finance.yahoo.com

 The stock market took a late afternoon fall after European Union finance ministers failed to come up with the full amount of money pledged for a bailout fund. 

Banks led the way down Monday. Morgan Stanley dropped 5.5 percent and Bank of America Corp. sank 4 percent, the biggest fall in the Dow Jones Industrial average. 

"If Europe is going to be bring us down it's going to come through the financial firms," said J.J. Kinahan, chief derivatives strategist at TD Ameritrade. 

The Dow lost 100.13 points, or 0.8 percent to close at 11,766.26. The average lost 55 points in the last hour of trading as reports emerged that the E.U. finance ministers couldn't drum up the full 200 billion euros ($261 billion) in new money to the International Monetary Fund. European leaders had pledged the money for a special IMF fund for struggling European countries at a summit meeting less than two weeks ago. 

Cautious comments from the head of the European Central Bank also helped push stocks lower. The Standard & Poor's 500 index fell 14.31 points, or 1.2 percent, to 1,205.35. The Nasdaq composite index fell 32.19 points, or 1.3 percent, to 2,523.14. 

Mario Draghi, the ECB president, said Monday that the central bank was looking for ways to keep the Eurozone's bailout fund working even if credit rating agencies strip France of its AAA grade. The bailout fund depends on the top ratings of France, Germany and the countries that contribute to it. Draghi also restated his view that large-scale government bond purchases were outside the central bank's responsibility. 

In the U.S., a gauge of sentiment among builders inched up to its highest level since May 2010. The National Association of Home Builders/Wells Fargo builder sentiment index added two points to 21 in December. Any reading below 50 still reflects a negative outlook.

*The NYSE DOW NYSE DOW closed   100.13   points   LOWER or -0.84%  on Monday December 19*
Sym .......Last .......Change..........
Dow  11,766.26  -100.13 -0.84% 
Nasdaq  2,523.14  -32.19 -1.26% 
S&P 500  1,205.35  -14.31 -1.17% 
30-yr Bond  2.8000 % -0.0540 

NYSE Volume  3,618,478,000  
Nasdaq Volume  1,570,795,000 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,364.99 -22.35 -0.41% 
DAX 5,670.71 -31.07 -0.54% 
CAC 40 2,974.20 +1.90 +0.06%

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,113.90  -104.90 -2.49% 
Shanghai Comp   2,218.25   -6.59 -0.30% 
Taiwan Wei...  6,633.33  -151.76 -2.24% 
Nikkei 225  8,296.12  -105.60 -1.26% 
Hang Seng  18,070.21  -215.18 -1.18% 
Straits Times 2,618.09   -41.13 -1.55% 

http://finance.yahoo.com/news/US-stocks-drop-BofA-other-big-apf-3290358111.html?x=0

*US stocks drop; BofA and other big banks fall hard

Financial stocks lead way lower; BofA slides 4 percent, the biggest drop in the Dow*

By Matthew Craft 

NEW YORK (AP) -- The stock market took a late afternoon fall after European Union finance ministers failed to come up with the full amount of money pledged for a bailout fund. 

Banks led the way down Monday. Morgan Stanley dropped 5.5 percent and Bank of America Corp. sank 4 percent, the biggest fall in the Dow Jones Industrial average. 

"If Europe is going to be bring us down it's going to come through the financial firms," said J.J. Kinahan, chief derivatives strategist at TD Ameritrade. 

The Dow lost 100.13 points, or 0.8 percent to close at 11,766.26. The average lost 55 points in the last hour of trading as reports emerged that the E.U. finance ministers couldn't drum up the full 200 billion euros ($261 billion) in new money to the International Monetary Fund. European leaders had pledged the money for a special IMF fund for struggling European countries at a summit meeting less than two weeks ago. 

Cautious comments from the head of the European Central Bank also helped push stocks lower. The Standard & Poor's 500 index fell 14.31 points, or 1.2 percent, to 1,205.35. The Nasdaq composite index fell 32.19 points, or 1.3 percent, to 2,523.14. 

Mario Draghi, the ECB president, said Monday that the central bank was looking for ways to keep the Eurozone's bailout fund working even if credit rating agencies strip France of its AAA grade. The bailout fund depends on the top ratings of France, Germany and the countries that contribute to it. Draghi also restated his view that large-scale government bond purchases were outside the central bank's responsibility. 

In the U.S., a gauge of sentiment among builders inched up to its highest level since May 2010. The National Association of Home Builders/Wells Fargo builder sentiment index added two points to 21 in December. Any reading below 50 still reflects a negative outlook. 

Among companies making large moves Monday: 

”” Winn-Dixie soared 70 percent. The supermarket chain is being sold to Bi-Lo LLC, another supermarket operator with stores in the Southern U.S., in a deal valued at $560 million. 

”” Cablevision Systems Corp. rose 2 percent after an analyst from Citibank said a recent drop in the company's stock seemed "way overdone." The stock has lost 27 percent from the end of October through last Friday following the unexpected resignation of its chief operating officer. 

”” Bank of America ended the day at $4.99. The drop puts it at risk of further selling pressure because many mutual funds have rules against holding stocks that trade below the $5 mark. 

”” Commercial Metals Co. dropped 1.4 percent. The company's board rejected a $1.7 billion takeover bid from investor Carl Icahn, saying the proposed deal undervalued the company. 

The three major stock market indexes lost more than 2 percent last week amid worries that some European governments would try to drop the euro. Fitch Ratings warned Friday that it may cut the credit grades for Italy, Spain and four other countries that use the currency. 

With two weeks of trading left in 2011, the S&P 500 is 4.2 percent below where it started the year. The Dow has managed to gain 1.6 percent in 2011, led by McDonald's Corp. and its 26 percent gain. 

Nearly four stocks fell for every one that rose on the New York Stock Exchange. Trading volume was very light at 3.6 billion.


----------



## bigdog

Source: http://finance.yahoo.com

Encouraging signs out of Europe and a surprisingly strong report on the U.S. housing market drove the Dow Jones industrial average up more than 300 points Tuesday. It was the best day for stocks this month. 

The Spanish government pulled off a successful debt auction and gauges of business and consumer confidence in Germany rose unexpectedly. Both helped ease worries about Europe's debt crisis. The dollar fell against the euro and U.S. government bond prices dropped as traders shifted money out of the safest assets. 

Borrowing costs for the Spanish government plunged at an auction of short-term debt, a sign that bond buyers are more confident in the country's ability to pay them back. 

"Spain has plenty of problems, large debts and budget deficits," said Sam Stovall, chief equity strategist at S&P Capital IQ. "So when we see debt auctions go much better than expected it's very encouraging." 

Spain's government raised €5.6 billion ($7.3 billion), much more than its goal of €4.5 billion. Investors demanded an interest rate of only 1.74 percent to lend to Spain for three months, a steep fall from the 5.1 percent at an auction in November. 

The Dow gained 337.32 points, or 2.9 percent to close at 12,103.58. It lost 100 points the day before. 

Europe's major stock markets also climbed. Germany's DAX soared 3.1 percent. France's CAC-40 jumped 2.7 percent. 

The gains held on Tuesday afternoon even after the U.S. House of Representatives rejected a plan to extend a cut in Social Security taxes. Unemployment benefits for 2 million people are also at risk. 

*The NYSE DOW NYSE DOW closed    +337.32   points HIGHER  or  +2.87%   on Tuesday December 20*
Sym .......Last .......Change..........
Dow  12,103.58  +337.32 +2.87% 
Nasdaq  2,603.73  +80.59 +3.19% 
S&P 500  1,241.30  +35.95 +2.98% 
30-yr Bond  2.9300 % +0.1260 

NYSE Volume  4,074,907,500  
Nasdaq Volume  1,884,011,375  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,419.60 +54.61 +1.02% 
DAX 5,847.03 +176.32 +3.11% 
CAC 40 3,055.39 +81.19 +2.73%

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,107.10  -6.80 -0.17% 
Shanghai Comp  ,215.93  -2.30 -0.10% 
Taiwan Wei...  6,662.64  +29.31 +0.44% 
Nikkei 225  8,336.48  +40.36 +0.49% 
Hang Seng  18,080.20  +9.99 +0.06% 
Straits Times 2,614.45  -3.64 -0.14%) 

http://finance.yahoo.com/news/stocks-soar-europe-hopes-strong-144805204.html

*Stocks soar on Europe hopes, strong housing starts

Dow jumps 337 points following strong Spanish debt sale; US housing starts surge 9.3 percent*

By Matthew Craft, AP Business Writer 

NEW YORK (AP) -- Encouraging signs out of Europe and a surprisingly strong report on the U.S. housing market drove the Dow Jones industrial average up more than 300 points Tuesday. It was the best day for stocks this month. 

The Spanish government pulled off a successful debt auction and gauges of business and consumer confidence in Germany rose unexpectedly. Both helped ease worries about Europe's debt crisis. The dollar fell against the euro and U.S. government bond prices dropped as traders shifted money out of the safest assets. 

Borrowing costs for the Spanish government plunged at an auction of short-term debt, a sign that bond buyers are more confident in the country's ability to pay them back. 

"Spain has plenty of problems, large debts and budget deficits," said Sam Stovall, chief equity strategist at S&P Capital IQ. "So when we see debt auctions go much better than expected it's very encouraging." 

Spain's government raised €5.6 billion ($7.3 billion), much more than its goal of €4.5 billion. Investors demanded an interest rate of only 1.74 percent to lend to Spain for three months, a steep fall from the 5.1 percent at an auction in November. 

The Dow gained 337.32 points, or 2.9 percent to close at 12,103.58. It lost 100 points the day before. 

Europe's major stock markets also climbed. Germany's DAX soared 3.1 percent. France's CAC-40 jumped 2.7 percent. 

The gains held on Tuesday afternoon even after the U.S. House of Representatives rejected a plan to extend a cut in Social Security taxes. Unemployment benefits for 2 million people are also at risk. 

A Federal Reserve proposal for stricter rules on larger banks didn't knock down JPMorgan Chase, Citigroup and other big bank stocks. JPMorgan Chase & Co. gained 4.9 percent. Citigroup added 4.6 percent. 

The Standard & Poor's 500 index gained 35.95 points, or 3 percent, to 1,241.30. Only six stocks in the index fell. The Nasdaq composite index rose 80.59, or 3.2 percent, to 2,603.73. 

Analysts cautioned that recent big rallies in the stock market have been quick to fade as traders seize the chance to sell stocks and lock in gains. "If you're selling into rallies, it means people want out," said Quincy Krosby, Prudential Financial's market strategist. "They don't believe it's sustainable." 

Take the Dow's 490-point jump Nov. 30 after major central banks made a coordinated move to prop up European lenders by freeing up cash. The one-day rally brought the Dow to 12,045, but that gain had evaporated by last week. 

The Commerce Department said Tuesday that builders broke ground on 685,000 new homes last month, a 9.3 percent jump from October. That's the highest level since April 2010. Building permits, a gauge of future construction, increased 5.7 percent, spurred by a jump in apartment permits. Stovall said the surge in housing construction was another piece of evidence that the U.S. will avoid slipping into another recession soon. "It's great news," he said. 

The report drove housing stocks higher. PulteGroup Inc. jumped 10 percent. D.R. Horton Inc. rose 5.7 percent. 

In other corporate news, 

— General Mills Inc. dropped 1 percent after reporting that its quarterly profit sank 28 percent. The maker of Cheerios and Yoplait yogurt blamed higher costs for ingredients and packaging for pinching profit margins. 

— AT&T Inc. rose 1.3 percent after the company abandoned its bid late Monday to acquire the wireless provider T-Mobile USA. Sprint Nextel Corp. gained 5 percent. Sprint, the No. 3 wireless carrier, had opposed the deal. 

— Red Hat Inc. plunged 8.9 percent after the software company forecast revenue that was short of what analysts were expecting. Red Hat provides support to business users for the freely distributed Linux operating system. 

— Oracle Corp. dropped 8 percent in extended trading after the business software giant's quarterly earnings and sales missed analysts' estimates.


----------



## bigdog

Source: http://finance.yahoo.com

 Technology stocks fell Wednesday, dragged down by a weak earnings report from the business software maker Oracle Corp. 

Broad market indexes were flat. The Dow Jones industrial average eked out a gain of 4 points after having been down most of the day. 

The Dow was down 104 points at midday, led by technology stocks. The rare earnings miss by Oracle raised worries that weak government and business spending might hurt other big technology companies. IBM Corp. was by far the biggest loser in the Dow, falling 3.1 percent to $181.47. 

Investors also had more to worry about from Europe. New data showed extensive lending from the European Central Bank to European banks. The initial reaction to the $639 billion in lending by the ECB was positive, but then worry set in that Europe's banks needed so much help in the first place. 

"Long-term, people were a little bit concerned that banks needed more money than we thought they did," said Joe Bell, a senior equity analyst with Schaeffer's Investment Research. 

The Dow edged up 4.16 points, less than 0.1 percent, to close at 12,107.74. On Tuesday the Dow jumped 337 ”” its biggest gain this month ”” on good economic news from Europe and a surge in new home construction in the U.S. 

The Standard & Poor's 500 rose 2.42 points, or 0.2 percent, to 1,243.72. Outside of the 2 percent decline for technology companies, prices rose or were flat in the rest of the S&P 500's 10 sectors. 

The Nasdaq composite fell 25.76 points, or 1 percent, to 2,577.97. 

*The NYSE DOW NYSE DOW closed  HIGHER  +4.16 +0.03%    on Wednesday December 21*
Sym .......Last .......Change.......... 
Dow  12,107.74  +4.16 +0.03% 
Nasdaq  2,577.97  -25.76 -0.99% 
S&P 500  1,243.72  +2.42 +0.19% 
30-yr Bond  3.0000 % +0.0740 

NYSE Volume  3,574,327,250  
Nasdaq Volume  1,865,536,000  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,389.74 -29.86 -0.55%  
DAX 5,791.53 -55.50 -0.95%  
CAC 40 3,030.47 -24.92 -0.82%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,190.20  +83.10 +2.02% 
Shanghai Comp 2,191.15   -24.78 -1.12% 
Taiwan Wei...  6,966.48  +303.84 +4.56% 
Nikkei 225  8,459.98  +123.50 +1.48% 
Hang Seng  18,416.45  +336.25 +1.86% 
Straits Times 2,673.32   +58.87 +2.25% 

http://finance.yahoo.com/news/stocks-end-mixed-oracle-miss-214918957.html

*Stocks end mixed; Oracle miss drags down tech

Stocks close mixed; Oracle earnings miss leads technology companies lower, other sectors rise*

By Joshua Freed, AP Business Writer 

Technology stocks fell Wednesday, dragged down by a weak earnings report from the business software maker Oracle Corp. 

Broad market indexes were flat. The Dow Jones industrial average eked out a gain of 4 points after having been down most of the day. 

The Dow was down 104 points at midday, led by technology stocks. The rare earnings miss by Oracle raised worries that weak government and business spending might hurt other big technology companies. IBM Corp. was by far the biggest loser in the Dow, falling 3.1 percent to $181.47. 

Investors also had more to worry about from Europe. New data showed extensive lending from the European Central Bank to European banks. The initial reaction to the $639 billion in lending by the ECB was positive, but then worry set in that Europe's banks needed so much help in the first place. 

"Long-term, people were a little bit concerned that banks needed more money than we thought they did," said Joe Bell, a senior equity analyst with Schaeffer's Investment Research. 

The Dow edged up 4.16 points, less than 0.1 percent, to close at 12,107.74. On Tuesday the Dow jumped 337 ”” its biggest gain this month ”” on good economic news from Europe and a surge in new home construction in the U.S. 

The Standard & Poor's 500 rose 2.42 points, or 0.2 percent, to 1,243.72. Outside of the 2 percent decline for technology companies, prices rose or were flat in the rest of the S&P 500's 10 sectors. 

The Nasdaq composite fell 25.76 points, or 1 percent, to 2,577.97. 

Oracle Corp. plunged almost 14 percent after the business software company said it was struggling to close deals. The results seemed to reinforce worries that businesses and the government may cut back on technology spending. Especially worrying was a weak 2 percent gain in new software licenses, a key sign of demand from other businesses. Oracle had predicted gains of as much as 16 percent. 

Consumer staples rose with help from a 1.7 percent increase by Coca-Cola Co. and a gain of 1.2 percent at Kraft. 

Nike Inc. rose 2.9 percent after reporting strong demand and higher prices for its shoes and clothing. 

Volume was much lower than usual at 3.5 billion shares, which can make prices more volatile


----------



## bigdog

Source: http://finance.yahoo.com

Encouraging economic reports pushed stocks higher Thursday. The Dow Jones industrial average rose 61 points, its third gain in a row. 

The number of people applying for unemployment benefits dropped last week to the lowest level since April 2008, the latest sign that the job market is healing. It was the third week in a row that applications fell. The Conference Board also reported that its measure of future economic activity had a big increase last month. It was the second straight gain, signaling that the U.S. economy was picking up speed and the risk of another recession was fading. 

"Today, Main Street is what matters because Main Street makes up 71 percent of the economy," said Quincy Krosby, chief market strategist for Prudential Securities. "You can't argue with the fact that the cost of gas has come down, which puts more money in the pockets of consumers to spend, and so things are starting to tick up." 

Krosby noted that the latest data showed that shoppers were opening up their wallets to spend during the holidays. However, she said the economy needs to grow at a faster pace than 2 percent to be able to survive any shocks caused by the European debt crisis or a sharp slowdown in China's economy in 2012. 

The government lowered its estimate of U.S. economic growth in the July-September quarter to an annual rate of 1.8 percent from 2 percent. That was still the fastest growth this year, up from 1.3 percent in the April-June quarter. 

The Dow Jones industrial average rose 61.91 points, or 0.51 percent, to close at 12,169.65. The Dow has risen 409 points over the past three days. Bank of America Corp. rose 4.6 percent to $5.47, the most among the 30 stocks in the Dow. 

The S&P 500 index gained 10.28 points, or 0.83 percent, to 1,254. The Nasdaq composite index rose 21.48, or 0.83 percent, to 2,599.45. 

*The NYSE DOW NYSE DOW closed  HIGHER  +61.91 +0.51%    on Thursday December 22*
Sym .......Last .......Change.......... 
Dow  12,169.65  +61.91 +0.51% 
Nasdaq  2,599.45  +21.48 +0.83% 
S&P 500  1,254.00  +10.28 +0.83% 
30-yr Bond  2.9800 % -0.0200 

NYSE Volume  3,467,137,250  
Nasdaq Volume  1,513,834,375  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,456.97 +67.23 +1.25%  
DAX 5,852.18 +60.65 +1.05%  
CAC 40 3,071.80 +41.33 +1.36%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,142.20  -48.00 -1.15% 
Shanghai Comp 2,186.30   -4.85 -0.22% 
Taiwan Wei...  6,966.35  -0.13 -0.00% 
Nikkei 225  8,395.16  -64.82 -0.77% 
Hang Seng  18,378.23  -38.22 -0.21% 
Straits Times 2,664.80  -8.52 -0.32% 

http://finance.yahoo.com/news/stocks-close-higher-better-job-211152439.html

*Stocks close higher on better job market news

Stocks close up after claims for unemployment benefits drop to the lowest since April 2008*

By Pallavi Gogoi, AP Business Writer 

NEW YORK (AP) -- Encouraging economic reports pushed stocks higher Thursday. The Dow Jones industrial average rose 61 points, its third gain in a row. 

The number of people applying for unemployment benefits dropped last week to the lowest level since April 2008, the latest sign that the job market is healing. It was the third week in a row that applications fell. The Conference Board also reported that its measure of future economic activity had a big increase last month. It was the second straight gain, signaling that the U.S. economy was picking up speed and the risk of another recession was fading. 

"Today, Main Street is what matters because Main Street makes up 71 percent of the economy," said Quincy Krosby, chief market strategist for Prudential Securities. "You can't argue with the fact that the cost of gas has come down, which puts more money in the pockets of consumers to spend, and so things are starting to tick up." 

Krosby noted that the latest data showed that shoppers were opening up their wallets to spend during the holidays. However, she said the economy needs to grow at a faster pace than 2 percent to be able to survive any shocks caused by the European debt crisis or a sharp slowdown in China's economy in 2012. 

The government lowered its estimate of U.S. economic growth in the July-September quarter to an annual rate of 1.8 percent from 2 percent. That was still the fastest growth this year, up from 1.3 percent in the April-June quarter. 

The Dow Jones industrial average rose 61.91 points, or 0.51 percent, to close at 12,169.65. The Dow has risen 409 points over the past three days. Bank of America Corp. rose 4.6 percent to $5.47, the most among the 30 stocks in the Dow. 

The S&P 500 index gained 10.28 points, or 0.83 percent, to 1,254. The Nasdaq composite index rose 21.48, or 0.83 percent, to 2,599.45. 

Economists say that the improving job market, strong holiday shopping, and cheaper gas prices will leave consumers with more money to spend. That would get the economy growing at an annual rate of more than 3 percent in the final three months of this year, which would be the fastest pace since 3.8 percent growth in the spring of 2010. 

Banks, energy and technology stocks were the biggest gainers, while consumer goods companies traded lower. Morgan Stanley led bank stocks, gaining 6.5 percent to close at $15.88, while among tech stocks Akamai Technologies Inc. the biggest gainer, rising 18.6 percent to $31.63. 

In other corporate news: 

”” Mead Johnson Nutrition Co. plummeted 10 percent on news that Wal-Mart Stores Inc. pulled a batch of its powdered infant formula from more than 3,000 of its stores nationwide. A newborn Missouri boy was fed a batch of the Enfamil Newborn powder made by Mead and died from what preliminary tests indicate was a rare bacterial infection. So far, no link has been established between the death and the formula and the government has not ordered a recall of Enfamil. 

”” Tibco Software Inc. jumped 8 percent after the business software maker reported a 20 percent increase in revenue and net income that was far ahead than what Wall Street analysts were expecting. 

”” Bed, Bath & Beyond Inc. slid 6 percent after the retailer warned investors that its fourth-quarter earnings might be lower than analysts had expected. Third-quarter sales also fell below analysts' expectations. 

With just over a week of trading left in 2011, the S&P 500 is less than 1 percent below where it started the year. The Dow has managed to gain 5.1 percent in 2011, while the Nasdaq is still off 2 percent. 

Nearly three stocks gained for every one that fell on the New York Stock Exchange. Trading volume was very light at 3.5 billion, compared to the recent average of 4.6 billion.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks closed higher Friday after a quiet, pre-holiday session that turned the S&P 500 index positive for the year. 

Traders were relieved by news that Congress extended a payroll tax holiday for workers and emergency unemployment benefits. Both programs were set to expire at the end of the year. Letting that happen would have reduced economic growth by about 1 percent, analysts said. 

The final business day before Christmas also was the slowest full day of trading so far this year. Traders exchanged just 2.22 billion shares, about half of the recent average. The market will be closed on Monday because Christmas falls on a Sunday this year. 

Stocks have risen steadily since Tuesday on hopeful signs about the pace of economic growth in the fourth quarter, which ends next week. New claims for unemployment benefits fell last week to the lowest level since April 2008, long before anyone realized the nation was in a recession. 

A series of mixed economic reports Friday did little to derail that optimism. The Standard & Poor's 500 index added 11.33 points, or 0.9 percent, to 1,265.33. It started the year at 1,257.64. 

Stocks might surge into the new year if the S&P 500 passes a couple of key technical thresholds, said Todd Salamone, research director at Schaeffer's Investment Research. 

Fund managers currently hold relatively few stocks, Salamone noted, and many of their funds have underperformed the market and are negative for the year. If the index rises farther above its break-even point for the year or its average over the past several months, fund managers might flood into the market in a last-ditch attempt to improve their annual returns, he said. 

"The worst thing that can happen for a fund manager is to underperform and be in the red when your benchmark, the S&P index, is in the green" for the year, Salamone said. 

The Dow Jones industrial average rose 124.35 points, or 1 percent, to 12,294. Bank of America Corp. was the Dow's biggest gainer, adding 2.4 percent. All but two of the 30 Dow stocks rose, Alcoa Inc. and Boeing Co. 

The Dow has risen 527.74 points, or 4.5 percent in the past four days. It was the first four-day winning streak for the Dow since mid-September. 

The Nasdaq composite index gained 19.19 points, or 0.7 percent, to 2,618.64. 

*The NYSE DOW NYSE DOW closed  HIGHER +124.35 +1.02%     on Friday December 23*
Sym .......Last .......Change.......... 
Dow  12,294.00  +124.35 +1.02% 
Nasdaq  2,618.64  +19.19 +0.74% 
S&P 500  1,265.33  +11.33 +0.90% 
30-yr Bond  3.0600 % +0.0830 

NYSE Volume  2,226,056,500  
Nasdaq Volume  970,584,500  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,512.70 +55.73 +1.02% 
DAX 5,878.93 +26.75 +0.46% 
CAC 40 3,102.09 +30.29 +0.99% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,192.10  +49.90 +1.20% 
Shanghai Comp  2,204.78 +18.49 +0.85% 
Taiwan Wei...  7,110.73  +144.38 +2.07% 
Nikkei 225  8,395.16  -64.82 -0.77% 
Hang Seng  18,629.17  +250.94 +1.37% 
Straits Times 2,676.47 +11.67 +0.44 

http://finance.yahoo.com/news/Stocks-close-higher-S-P-turns-apf-2584617187.html?x=0

*Stocks close higher; S&P turns positive for 2011

Stocks close higher after quiet, pre-holiday trading; S&P 500 turns positive for the year*

By Daniel Wagner, AP Business Writer 

Stocks closed higher Friday after a quiet, pre-holiday session that turned the S&P 500 index positive for the year. 

Traders were relieved by news that Congress extended a payroll tax holiday for workers and emergency unemployment benefits. Both programs were set to expire at the end of the year. Letting that happen would have reduced economic growth by about 1 percent, analysts said. 

The final business day before Christmas also was the slowest full day of trading so far this year. Traders exchanged just 2.22 billion shares, about half of the recent average. The market will be closed on Monday because Christmas falls on a Sunday this year. 

Stocks have risen steadily since Tuesday on hopeful signs about the pace of economic growth in the fourth quarter, which ends next week. New claims for unemployment benefits fell last week to the lowest level since April 2008, long before anyone realized the nation was in a recession. 

A series of mixed economic reports Friday did little to derail that optimism. The Standard & Poor's 500 index added 11.33 points, or 0.9 percent, to 1,265.33. It started the year at 1,257.64. 

Stocks might surge into the new year if the S&P 500 passes a couple of key technical thresholds, said Todd Salamone, research director at Schaeffer's Investment Research. 

Fund managers currently hold relatively few stocks, Salamone noted, and many of their funds have underperformed the market and are negative for the year. If the index rises farther above its break-even point for the year or its average over the past several months, fund managers might flood into the market in a last-ditch attempt to improve their annual returns, he said. 

"The worst thing that can happen for a fund manager is to underperform and be in the red when your benchmark, the S&P index, is in the green" for the year, Salamone said. 

The Dow Jones industrial average rose 124.35 points, or 1 percent, to 12,294. Bank of America Corp. was the Dow's biggest gainer, adding 2.4 percent. All but two of the 30 Dow stocks rose, Alcoa Inc. and Boeing Co. 

The Dow has risen 527.74 points, or 4.5 percent in the past four days. It was the first four-day winning streak for the Dow since mid-September. 

The Nasdaq composite index gained 19.19 points, or 0.7 percent, to 2,618.64. 

Earlier Friday, the government said that consumer spending and incomes barely grew in November. The weak gains suggest that consumers may have trouble sustaining their spending into 2012. 

In another worrying sign, a measure of business investment decreased for the second straight month. Business investment has been a pocket of strong demand and spending amid a sluggish recovery. A tax break that encouraged companies to invest in new equipment and facilities expires at the end of the year. 

Yet hopes for the economy remained high after this week's encouraging news about the job market and strong holiday sales for retailers. 

Among the companies making big moves: 

— Rambus Inc. jumped 12.2 percent after the technology licensing company said it reached a patent license deal with Broadcom Corp. and settled a lawsuit with the chip maker. 

— TripAdvisor Inc. rose 6.1 percent, the most in the S&P 500, as traders reassessed the value of the newly-spun off travel review website. The stock had fallen sharply since it officially started trading on Wednesday. It recovered some losses on Friday as analysts weighed its rapidly growing revenue and market share. 

— Eastman Kodak Co. rose 9.5 percent after the struggling photography company said its general counsel, Laura Quatela, would become co-president on Jan. 1.

2488


----------



## bigdog

Source: http://finance.yahoo.com

Stocks ended barely changed in light trading Tuesday amid mixed economic news. Consumer confidence surged to an eight-month high, but home prices dropped in major cities. Sears plummeted after reporting that it would close more than 100 stores around the country.

The Dow Jones industrial average closed down just 2 points after staying in a narrow range all day. The S&P 500 index and Nasdaq eked out small gains.

In the latest sign of a bumpy recovery in the housing market, home prices fell in 19 of the 20 cities tracked by the Standard & Poor's/Case-Shiller index. Atlanta, Detroit and Minneapolis posted the biggest declines. Prices in Atlanta and Las Vegas fell to their lowest points since the housing crisis began.

That report dampened investors' enthusiasm about a jump in consumer confidence to the highest level since April. The New York-based Conference Board reported that its Consumer Confidence Index rose almost 10 points to 64.5 in December. Economists watch the numbers closely because consumer spending accounts for about 70 percent of U.S. economic activity.

Henry Herrmann, chief executive officer at the investment management firm Waddell & Reed, said the increase reflected the fact that more jobs have been created in recent weeks, which will likely lead to "a more sustained" economic recovery.

"If job creation will come with wage improvement in the coming weeks, it will boost confidence further," Herrmann said.

The Dow Jones lost 2.65 points, or 0.02 percent, to close at 12,291.35. The S&P 500 was up 0.10 points, or 0.01 percent, to 1,265.43. The Nasdaq composite rose 6.56, or 0.3 percent, to 2,625.20.

The most the Dow rose during the day was 34 points, and the most it fell was 24. It was the narrowest trading range in 5 months. Stocks are expected to trade within a narrow range all this week as trading remains light between the Christmas holiday and New Year's. The volume of shares traded on the New York Stock Exchange Tuesday was 2 billion, less than half the average daily volume this month.

*The NYSE DOW NYSE DOW closed LOWER   -2.65 -0.02%         on Tuesday December 27*
Sym .......Last .......Change.......... 
Dow  12,291.35  -2.65 -0.02% 
Nasdaq  2,625.20  +6.56 +0.25% 
S&P 500  1,265.43  +0.10 +0.01% 
30-yr Bond  3.0400 % -0.0250 

NYSE Volume  2,048,767,875  
Nasdaq Volume  960,492,500 

B]Europe[/B]
Symbol... ......Last .....Change.......
FTSE 100  5,512.70   closed
DAX 5,889.76  closed 
CAC 40 3,103.11 closed

*Asia Pacific*
Symbol...... .....Last ....Change.......
All Ordinaries 4,192.10 closed  
Shanghai Composite 2,166.21  -23.91 -1.09% 
Hang Seng 18,629.17 23   closed 
Nikkei 225 8,440.56 -38.78 -0.46%
Straits Times 2,673.62  -2.85 -0.11%  
Taiwan Weighted 7,085.03  -7.55 -0.11% 

http://news.yahoo.com/stocks-barely-changed-light-holiday-trading-211327030.html

*Stocks barely changed in light holiday trading*
By PALLAVI GOGOI

NEW YORK (AP) — Stocks ended barely changed in light trading Tuesday amid mixed economic news. Consumer confidence surged to an eight-month high, but home prices dropped in major cities. Sears plummeted after reporting that it would close more than 100 stores around the country.

The Dow Jones industrial average closed down just 2 points after staying in a narrow range all day. The S&P 500 index and Nasdaq eked out small gains.

In the latest sign of a bumpy recovery in the housing market, home prices fell in 19 of the 20 cities tracked by the Standard & Poor's/Case-Shiller index. Atlanta, Detroit and Minneapolis posted the biggest declines. Prices in Atlanta and Las Vegas fell to their lowest points since the housing crisis began.

That report dampened investors' enthusiasm about a jump in consumer confidence to the highest level since April. The New York-based Conference Board reported that its Consumer Confidence Index rose almost 10 points to 64.5 in December. Economists watch the numbers closely because consumer spending accounts for about 70 percent of U.S. economic activity.

Henry Herrmann, chief executive officer at the investment management firm Waddell & Reed, said the increase reflected the fact that more jobs have been created in recent weeks, which will likely lead to "a more sustained" economic recovery.

"If job creation will come with wage improvement in the coming weeks, it will boost confidence further," Herrmann said.

The Dow Jones lost 2.65 points, or 0.02 percent, to close at 12,291.35. The S&P 500 was up 0.10 points, or 0.01 percent, to 1,265.43. The Nasdaq composite rose 6.56, or 0.3 percent, to 2,625.20.

The most the Dow rose during the day was 34 points, and the most it fell was 24. It was the narrowest trading range in 5 months. Stocks are expected to trade within a narrow range all this week as trading remains light between the Christmas holiday and New Year's. The volume of shares traded on the New York Stock Exchange Tuesday was 2 billion, less than half the average daily volume this month.

Sears Holding Corp. plunged 27 percent to $33.38, the most in the S&P 500. The retailer warned it would close between 100 and 120 Sears and Kmart stores following poor sales during the holidays, the most crucial time of year for retailers.

The Sears news also dragged Whirlpool Corp. down 9 percent to $46.62. Investors worried the store closings would hurt sales of Whirlpool and Maytag washers and dryers the company makes.

A run of strong economic data in the U.S. has boosted the stock market in recent days. However analysts expect any gains to be tempered by worries over the European debt crisis.

Italy's borrowing costs rose Tuesday, reflecting a continued high level of investor anxiety. The yield on the country's ten-year bonds hit 7 percent again, which is considered unsustainable in the long run. Greece, Ireland and Portugal had to seek relief from their lenders after their own borrowing costs rose that high.

Italy is the euro zone's third-largest economy and is considered too big to get bailed out by its neighbors. Mario Monti, the country's new premier, got parliamentary approval last week for a big austerity package that is intended to save the country from financial disaster.

Markets have grown increasingly fearful over the past few months that Italy will find it difficult to pay off its massive debts, which stand at around $2.5 trillion.

In other corporate news:

— Computer Sciences Corp. fell 9 percent after warning that it will write down the value of an investment by about $1.5 billion.

— U.S. oil and gas explorer Endeavour International Corp. rose 24 percent after the company announced an agreement to buy ConocoPhillips' interest in three U.K. oil fields in the Central North Sea for $330 million.

— International Game Technology shares gained 5 percent following news that some states might be closer to permitting online gambling.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks closed lower Wednesday after Europe's central bank disclosed figures suggesting that banks in the region were becoming increasingly reluctant to lend to each other. 

The Dow Jones industrial average lost nearly 140 points and the S&P 500 index fell after five days of gains. The S&P is now negative for the year again, after barely turning positive on Friday. 

The European Central Bank said the continent's banks parked $590.72 billion with it overnight, surpassing the record set only Monday. That means those banks were less willing to take the risk of making short-term loans to each other, opting instead to earn low interest rates from the ECB. The disclosure also hurt the euro, which fell to $1.291, its lowest level against the dollar since January. 

The worrying news from the ECB overshadowed two successful auctions of Italian government debt. Italy was able to pay much lower borrowing rates than last month. The strong demand from investors raised hopes that Italy would be able to avoid sinking into a financial crisis, as smaller countries like Greece and Portugal have. 

John Merrill, chief investment officer at Tanglewood Wealth Management, said markets would remain vulnerable to flare-ups in Europe's long-running financial crisis until leaders there come up with more convincing solutions for paying down their enormous debt loads and keeping the 17-nation currency union intact. 

"We live in a Band-Aid world," Merrill said. "Nobody really is addressing underlying issues." 

European leaders agreed at a summit Dec. 9 to forge closer fiscal ties over the long term, but investors are still worried that Greece might default on its debt or be forced to leave the euro bloc. A Greek exit from the currency union would likely cause huge disruptions for the country's economy and losses for European banks that hold Greek government debt. Investors fear that could cascade into another global financial panic, as happened in 2008 following the collapse of the U.S. investment bank Lehman Brothers. 

The Dow Jones industrial average fell 139.94 points, or 1.1 percent, to 12,151.41. Materials and energy companies led the declines. Alcoa Inc. fell 3 percent and Caterpillar Inc. fell 2.4 percent. 

Trading was very thin in a holiday-shortened week. Shares traded on the New York Stock Exchange totaled 2.3 billion, less than half of the usual volume. 

The S&P 500 fell 15.79 points, or 1.3 percent, to 1,249.64. The Nasdaq composite declined 35.22 points, or 1.3 percent, to 2,589.98. 

*The NYSE DOW NYSE DOW closed   LOWER    -139.94 -1.14%       on Wednesday December 28*
Sym .......Last .......Change.......... 
Dow 12,151.41 -139.94 -1.14%
Nasdaq 2,589.98 -35.22 -1.34%
S&P 500 1,249.64 -15.79 -1.25%
30-yr Bond 2.897 -0.142 -4.67% 

NYSE Volume 2,349,981.25 
Nasdaq Volume 1,084,756.75 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,507.40 -5.30 -0.10%  
DAX 5,771.27 -118.49 -2.01%  
CAC 40 3,071.08 -32.03 -1.03%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,141.70  -50.40 -1.20% 
Shanghai Comp 2,170.01   +3.81 +0.18% 
Taiwan Wei...  7,056.67  -28.36 -0.40% 
Nikkei 225  8,423.62  -16.94 -0.20% 
Hang Seng  18,518.67  -110.50 -0.59% 
Straits Times 2,666.25 -7.37 -0.28% 

http://finance.yahoo.com/news/stocks-slide-p-500-turns-211005879.html

*Stocks slide; S&P 500 turns negative for year

Stock fall on European banking worries; S&P 500 index turns negative for year*

By Pallavi Gogoi, AP Business Writer 



NEW YORK (AP) -- Stocks closed lower Wednesday after Europe's central bank disclosed figures suggesting that banks in the region were becoming increasingly reluctant to lend to each other. 

The Dow Jones industrial average lost nearly 140 points and the S&P 500 index fell after five days of gains. The S&P is now negative for the year again, after barely turning positive on Friday. 

The European Central Bank said the continent's banks parked $590.72 billion with it overnight, surpassing the record set only Monday. That means those banks were less willing to take the risk of making short-term loans to each other, opting instead to earn low interest rates from the ECB. The disclosure also hurt the euro, which fell to $1.291, its lowest level against the dollar since January. 

The worrying news from the ECB overshadowed two successful auctions of Italian government debt. Italy was able to pay much lower borrowing rates than last month. The strong demand from investors raised hopes that Italy would be able to avoid sinking into a financial crisis, as smaller countries like Greece and Portugal have. 

John Merrill, chief investment officer at Tanglewood Wealth Management, said markets would remain vulnerable to flare-ups in Europe's long-running financial crisis until leaders there come up with more convincing solutions for paying down their enormous debt loads and keeping the 17-nation currency union intact. 

"We live in a Band-Aid world," Merrill said. "Nobody really is addressing underlying issues." 

European leaders agreed at a summit Dec. 9 to forge closer fiscal ties over the long term, but investors are still worried that Greece might default on its debt or be forced to leave the euro bloc. A Greek exit from the currency union would likely cause huge disruptions for the country's economy and losses for European banks that hold Greek government debt. Investors fear that could cascade into another global financial panic, as happened in 2008 following the collapse of the U.S. investment bank Lehman Brothers. 

The Dow Jones industrial average fell 139.94 points, or 1.1 percent, to 12,151.41. Materials and energy companies led the declines. Alcoa Inc. fell 3 percent and Caterpillar Inc. fell 2.4 percent. 

Trading was very thin in a holiday-shortened week. Shares traded on the New York Stock Exchange totaled 2.3 billion, less than half of the usual volume. 

The S&P 500 fell 15.79 points, or 1.3 percent, to 1,249.64. The Nasdaq composite declined 35.22 points, or 1.3 percent, to 2,589.98. 

The Bank of Italy raised $11.8 billion in two bond auctions, reflecting investor approval of the country's recently passed austerity measures. The yield on Italy's six-month bill offering was half the interest rate the country paid in a similar auction last month. The yield on the country's 10-year bond remained dangerously high, however, at 6.93 percent. It had risen to 7 percent Tuesday, a level that is considered unsustainable. 

Italy is the euro zone's third-largest economy and is considered too big to save under the euro zone's current bailout funds. Investors have grown fearful over the past few months that Italy will find it difficult to pay off its massive debts, which stand at around $2.5 trillion. 

The worries were reflected in U.S. bank stocks. Bank of America Corp. fell 3.5 percent, while Regions Financial Corp. fell 2.7 percent. 

In other corporate news: 

— Sandridge Energy Inc. stock declined 4.4 percent on news that it is selling drilling rights in two states to a Spanish energy company, Repsol YPF. 

— Cavium Inc. fell over 1 percent, a day after the chipmaker said its fourth-quarter results will fall below its previous forecast.


----------



## bigdog

Source: http://finance.yahoo.com

Better news on home sales and improved prospects for job growth sent stocks higher on Wall Street Thursday. 

The Dow Jones industrial average rose 135 points, nearly making up its 140-point loss from the day before. The S&P 500 edged back into the black for 2011, with just one more day of trading left in the year. 

The four-week average of unemployment claims fell to a three-and-a-half-year low, an indication that hiring could pick up. Also, the number of Americans who signed contracts to buy homes in November rose more than 7 percent to the highest level in a year and a half, according to the National Association of Realtors. 

Quincy Krosby, Prudential Financial's market strategist, said the reports were encouraging signals for the economy going in to 2012. 

"The correlation between jobs and housing has been crystal-clear this year," Krosby said. "Parts of the country where jobs are more plentiful are the ones where the housing market has held up." 

Krosby said the correlation has become more pronounced after the real estate bust, when lenders became reluctant to even consider customers for a mortgage unless they held jobs. She said it's a noticeable trend in many cities nationwide. 

For instance, Boston's 1.1 percent drop in home prices since last year was one of the lowest among metro areas tracked by S&P/Case-Shiller index. The city's unemployment rate is 6.2 percent, much lower than the national average of 8.6 percent. 

The positive housing news sent the stocks of home builders sharply higher. Masco Corp. soared 8.4 percent, the most in the S&P 500. PulteGroup Inc. rose 6 percent and Lennar Corp. gained 4.6 percent. 

The Dow closed at 12,287.04, a gain of 135.63 points, or 1.1 percent. For the year, the Dow is up 709 points, or 6 percent. 

The S&P 500 rose 13.38 points, or 1.07 percent, to 1,263.02. That's just 5 points above where the index started the year. 

*The NYSE DOW NYSE DOW closed  HIGHER  +135.63 +1.12%       on Thursday December 29*
Sym .......Last .......Change.......... 
Dow  12,287.04  +135.63 +1.12% 
Nasdaq  2,613.74  +23.76 +0.92% 
S&P 500  1,263.02  +13.38 +1.07% 
30-yr Bond  2.9100 % +0.0100 

NYSE Volume  2,278,125,500  
Nasdaq Volume  1,038,898,688 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,566.77 +59.37 +1.08%  
DAX 5,848.78 +77.51 +1.34%  
CAC 40 3,127.56 +56.48 +1.84% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,123.10  -18.60 -0.45% 
Shanghai Comp  2,173.56   +3.55 +0.16% 
Taiwan Wei...  7,074.82  +18.15 +0.26% 
Nikkei 225  8,398.89  -24.73 -0.29% 
Hang Seng  18,397.92  -120.75 -0.65% 
Straits Times 2,672.78   +6.53 +0.24% 

http://finance.yahoo.com/news/stocks-home-deals-job-growth-211525538.html

*Stocks up on new home deals, job growth prospects

Stocks up after new home contracts rise and unemployment claims suggest hiring could pick up*

By Pallavi Gogoi, AP Business Writer 

NEW YORK (AP) -- Better news on home sales and improved prospects for job growth sent stocks higher on Wall Street Thursday. 

The Dow Jones industrial average rose 135 points, nearly making up its 140-point loss from the day before. The S&P 500 edged back into the black for 2011, with just one more day of trading left in the year. 

The four-week average of unemployment claims fell to a three-and-a-half-year low, an indication that hiring could pick up. Also, the number of Americans who signed contracts to buy homes in November rose more than 7 percent to the highest level in a year and a half, according to the National Association of Realtors. 

Quincy Krosby, Prudential Financial's market strategist, said the reports were encouraging signals for the economy going in to 2012. 

"The correlation between jobs and housing has been crystal-clear this year," Krosby said. "Parts of the country where jobs are more plentiful are the ones where the housing market has held up." 

Krosby said the correlation has become more pronounced after the real estate bust, when lenders became reluctant to even consider customers for a mortgage unless they held jobs. She said it's a noticeable trend in many cities nationwide. 

For instance, Boston's 1.1 percent drop in home prices since last year was one of the lowest among metro areas tracked by S&P/Case-Shiller index. The city's unemployment rate is 6.2 percent, much lower than the national average of 8.6 percent. 

The positive housing news sent the stocks of home builders sharply higher. Masco Corp. soared 8.4 percent, the most in the S&P 500. PulteGroup Inc. rose 6 percent and Lennar Corp. gained 4.6 percent. 

The Dow closed at 12,287.04, a gain of 135.63 points, or 1.1 percent. For the year, the Dow is up 709 points, or 6 percent. 

The S&P 500 rose 13.38 points, or 1.07 percent, to 1,263.02. That's just 5 points above where the index started the year. 

The technology-heavy Nasdaq composite rose 23.76 points, or 0.92 percent, to 2,613.74. The index if down 39 points for the year. 

Trading was very light as investors get ready to close the books on 2011. Markets will be closed Monday in observance of New Year's Day, which falls on Sunday. 

Volume on the New York Stock Exchange was 2 billion shares, less than half of its recent average. Gaining stocks led losing ones four-to-one. 

The euro fell to its lowest level against the dollar in more than a year and its lowest against the Japanese yen in a decade. The euro went as low as $1.28 versus the dollar, its weakest since September 2010. 

Investors continued to be worried that Italy's 10-year borrowing rate remains uncomfortably close to 7 percent, a level that economists consider unsustainable. Greece, Ireland and Portugal all had to seek relief from their creditors after their 10-year bond yields rose above 7 percent. 

Italy paid 6.98 percent on a 10-year bond auction where it raised $3.3 billion. That's lower than the 7.56 percent it had to pay at an equivalent auction last month, but not low enough to assuage investors. Italy's new premier said his government has more to do before it convinces financial markets it can manage the heavy debts that have made it the focus of the euro zone crisis. 

In other corporate news: 

”” Chesapeake Midstream Partners rose 5 percent after the natural gas systems operator agreed to acquire Chesapeake Energy Corp.'s pipeline business. 

”” Hill International Inc. rose 3 percent after the construction management company was awarded a $3.3 million contract to build a new stadium in Iraq. 

”” Sears Holdings Corp. fell 1 percent as investors worried over the fate of the retailer, two days after it said it was closing over 100 stores nationwide.


----------



## bigdog

Source: http://finance.yahoo.com

 The stock market is ending a tumultuous year right where it started. 

The Standard & Poor's 500 index closed 2011 a fraction of a point below where it started the year. The S&P closed at 1,257.60, up 5.42 points or 0.4 percent. It ended 2010 at nearly the exact same level, at 1,257.64. Its loss for the year is 0.04 point. 

The Dow Jones industrial average lost 69 points, or 0.6 percent, at 12,218. The Dow is up 5.5 percent for the year. The Nasdaq composite index fell 9 points, or 0.3 percent, to 2,605. It lost 1.8 percent for the year. 

McDonald's Corp. was the biggest winner in the Dow this year with a gain of 31 percent. Bank of America Corp. was the worst, down 58 percent. 

The conventional wisdom is the more risk, the greater the potential rewards. But the opposite is proving true this year: Investors playing it safe have gained the most. 

The most dull and conservative of stocks — utilities — gained 15 percent, the largest gain of the ten industry sectors in the S&P 500 index. Other winning groups are consumer staples and health care companies, up 11 percent and 10 percent in 2011 respectively. 

In Europe, many of the biggest markets ended down for the year. Britain's FTSE 100 lost 5.6 percent, Germany's DAX 14.7 percent. 

Trading has been quiet this week with many investors away on vacation. Volume on the New York Stock Exchange has been about half of its daily average. Markets will be closed Monday in observance of New Year's Day. 

*The NYSE DOW NYSE DOW closed  LOWER     -69.48 -0.57%       on Friday December 30*
Sym .......Last .......Change.......... 
Dow  12,217.56  -69.48 -0.57% 
Nasdaq  2,605.15  -8.59 -0.33% 
S&P 500  1,257.60  -5.42 -0.43% 
30-yr Bond  2.8900 % -0.0180 

NYSE Volume  2,260,306,250  
Nasdaq Volume  1,083,414,000  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,572.28 +5.51 +0.10% 
DAX 5,898.35 +49.57 +0.85% 
CAC 40 3,159.81 +32.25 +1.03%

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,111.00  -12.10 -0.29% 
Shanghai Comp  2,199.42 +25.86 +1.19%  
Taiwan Wei...  7,072.08  -2.74 -0.04% 
Nikkei 225  8,455.35  +56.46 +0.67% 
Hang Seng  18,434.39  +36.47 +0.20% 
Straits Times 2,646.35 -26.43 -0.99% 

http://finance.yahoo.com/news/stocks-ending-flat-big-ups-212102028.html

*Stocks ending flat for year after big ups, downs

After big climbs and falls, stocks are ending year right where they started*

By Bernard Condon, AP Business Writer 



NEW YORK (AP) -- The stock market is ending a tumultuous year right where it started. 

The Standard & Poor's 500 index closed 2011 a fraction of a point below where it started the year. The S&P closed at 1,257.60, up 5.42 points or 0.4 percent. It ended 2010 at nearly the exact same level, at 1,257.64. Its loss for the year is 0.04 point. 

The Dow Jones industrial average lost 69 points, or 0.6 percent, at 12,218. The Dow is up 5.5 percent for the year. The Nasdaq composite index fell 9 points, or 0.3 percent, to 2,605. It lost 1.8 percent for the year. 

McDonald's Corp. was the biggest winner in the Dow this year with a gain of 31 percent. Bank of America Corp. was the worst, down 58 percent. 

The conventional wisdom is the more risk, the greater the potential rewards. But the opposite is proving true this year: Investors playing it safe have gained the most. 

The most dull and conservative of stocks — utilities — gained 15 percent, the largest gain of the ten industry sectors in the S&P 500 index. Other winning groups are consumer staples and health care companies, up 11 percent and 10 percent in 2011 respectively. 

In Europe, many of the biggest markets ended down for the year. Britain's FTSE 100 lost 5.6 percent, Germany's DAX 14.7 percent. 

Trading has been quiet this week with many investors away on vacation. Volume on the New York Stock Exchange has been about half of its daily average. Markets will be closed Monday in observance of New Year's Day. 

Better news on the job market and home sales lifted stocks Thursday, pushing the Dow up 135 points. On Friday Ford reported that its sales topped 2 million this year for the first time since 2007. Ford fell 0.1 percent. 

Rising and falling stocks were about even on the New York Stock Exchange. Volume was just 2.2 billion shares, about half of the recent daily average. 

In other corporate news: 

— Sears Holdings Corp. fell 3 percent to $31.78 after Fitch Ratings downgraded the company's credit rating to "junk." Sears has plunged 30 percent this week after disclosing that it would close more than 100 Sears and Kmart stores because of weak holiday sales. 

— Diamond Foods Inc. jumped 2.4 percent to $32.27. Rumors have been circulating that the hedge fund manager David Einhorn has acquired a stake in the food company that makes Emerald Nuts. 

— AMR Corp., the parent company of American Airlines, fell 17 cents to 35 cents. The company filed for bankruptcy protection last month. Late Thursday the company said its stock would be delisted from the New York Stock Exchange next week.

3148


----------



## bigdog

Source: http://finance.yahoo.com

The stock market got a big jump on a better year. 

After a flat 2011, stocks rose sharply Tuesday in the first trading of 2012 after investors returned from the holiday and found encouraging economic reports from the United States and around the world. 

The Dow Jones industrial average rose 179.82 points, or 1.4 percent, to 12,397.38, its highest close in more than five months. 

The Standard & Poor's 500 index, a broader gauge than the Dow, finished up almost 20 points at 1,277. The S&P finished 2011 almost exactly where it started — down a sliver, 0.04 of a point. 

The market may have gotten an extra boost from what's known as the January effect: Investors sell stocks at the end of the year to lock in losses for tax purposes, then come back in January and buy stocks again. 

The effect could be more pronounced this year because the stock market was so volatile in 2011 and more investors had losses to take, said Sam Stovall, chief equity strategist at Standard & Poor's Capital IQ. 

Money managers also usually get a fresh infusion of cash at the beginning of the year because workers who maxed out their contributions to retirement accounts well before the previous year ended start contributing again. 

These investors are back hunting for bargains, he said: "Investors are a lot like dieters and look to January as a new beginning." 

January is a fairly good predictor of the year for U.S. stocks. Only seven times since 1950 has January turned out to be a "major error" in predicting the year to come, according to the Stock Trader's Almanac. 

 *The NYSE DOW NYSE DOW closed  HIGHER  +179.82 +1.47%      on Tuesday January 3*
Sym .......Last .......Change.......... 
Dow  12,397.38  +179.82 +1.47% 
Nasdaq  2,648.72  +43.57 +1.67% 
S&P 500  1,277.06  +19.46 +1.55% 
30-yr Bond  2.9900 % +0.1050 

NYSE Volume  3,901,939,500  
Nasdaq Volume  1,656,356,375  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,699.91  +127.63 +2.29% 
DAX 6,166.57 +91.05 +1.50% 
CAC 40 3,245.40 +23.10 +0.72%

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,155.20  +44.20 +1.08% 
Shanghai Comp  2,199.42 closed   
Taiwan Wei...  7,053.38  +101.17 +1.46% 
Nikkei 225  8,455.35  +56.46 +0.67% 
Hang Seng  18,877.41  +443.02 +2.40% 
Straits Times 2,688.36   +42.01 +1.59% 

http://finance.yahoo.com/news/wall-streets-happy-dow-almost-213554895.html

*Wall Street's happy new year: Dow up almost 180

Dow rises 179 as investors return from break and find reason to buy; aiming to beat flat '10*

By Pallavi Gogoi, AP Business Writer



NEW YORK (AP) -- The stock market got a big jump on a better year. 

After a flat 2011, stocks rose sharply Tuesday in the first trading of 2012 after investors returned from the holiday and found encouraging economic reports from the United States and around the world. 

The Dow Jones industrial average rose 179.82 points, or 1.4 percent, to 12,397.38, its highest close in more than five months. 

The Standard & Poor's 500 index, a broader gauge than the Dow, finished up almost 20 points at 1,277. The S&P finished 2011 almost exactly where it started — down a sliver, 0.04 of a point. 

The market may have gotten an extra boost from what's known as the January effect: Investors sell stocks at the end of the year to lock in losses for tax purposes, then come back in January and buy stocks again. 

The effect could be more pronounced this year because the stock market was so volatile in 2011 and more investors had losses to take, said Sam Stovall, chief equity strategist at Standard & Poor's Capital IQ. 

Money managers also usually get a fresh infusion of cash at the beginning of the year because workers who maxed out their contributions to retirement accounts well before the previous year ended start contributing again. 

These investors are back hunting for bargains, he said: "Investors are a lot like dieters and look to January as a new beginning." 

January is a fairly good predictor of the year for U.S. stocks. Only seven times since 1950 has January turned out to be a "major error" in predicting the year to come, according to the Stock Trader's Almanac. 

In other words, whichever direction the market has gone in January, the rest of the year has usually followed. 

The "major errors" are usually extraordinary events, the almanac points out. In 2001, for example, the S&P 500 rose 3.5 percent in January, but the market was rocked by the Sept. 11 attacks and finished the year down 13 percent. 

The first day of the year is less useful for fortune-telling than the first month. If you were to bet on whether the market would finish the year up or down based on how it performed the first day, you would be right only about half the time. 

And there's no special power to January. A strong market in any single month makes it more likely that the market will be higher over the 12 months to come, Dan Greenhaus, chief global strategist at the brokerage BTIG, pointed out in a note to clients. 

"As goes any month, so goes any 12-month period," he said. "This is not the exclusive province of January." 

Predictive ability aside, the Dow's 179-point gain was its third-biggest for the first trading day of the year and its biggest gain on the first day since 2009, when the Dow climbed 258 points. 

Tuesday was also the fourth time in a row the market rose on opening day. On Jan. 3, 2011, on its way to flat-lining for the year, the S&P rose 14 points. 

Bank stocks and materials and industrial companies posted the largest gains. Alcoa, which produces aluminum, rose 6.7 percent, JPMorgan Chase rose 5.2 percent, and Bank of America rose 4.3 percent, the biggest winners among the 30 stocks in the Dow. 

The market's gains were broad. All but four of the Dow 30 finished higher. Of the 10 categories of stocks in the S&P 500 index, one, utilities, finished lower. Utilities are traditionally conservative stocks to own. 

Investors seized on the latest signs of strength in the U.S. economy: Manufacturing expanded in December at the fastest rate in six months, and construction spending rose in November as builders spent more on single-family homes, apartments and remodeling projects. 

There was also hope from Europe's largest economy, Germany, which reported that the average number of people unemployed there last year was the lowest in two decades. Germany has an unemployment rate of 6.6 percent, compared with 8.6 percent in the United States. 

And a Chinese manufacturing index rose in December, reversing a November slide and raising hopes that China's economic slowdown is under control. 

The economic reports overshadowed, at least for a day, concerns in the global markets about the European debt crisis, which will probably be the main catalyst for markets in the weeks ahead. 

Earlier Tuesday, the government of debt-crippled Greece warned that it would have to ditch the euro currency if the details of a second international bailout worth $169 billion can't be worked out. 

Investors have been afraid that a Greek exit from the euro currency union would further disrupt the Greek economy and cause heavy losses for European banks that hold Greek government debt, perhaps triggering a global financial crisis. 

The second Greek bailout was approved last October, but Greece still has to persuade its creditors, including banks and investment firms, to take steep losses on their holdings of Greek debt. 

Greece also says more tax increases and spending cuts may be required. A spokesman for the Greek government, Pantelis Kapsis, said negotiations in the next three or four months with international debt monitors will "determine everything." 

The euro rose to $1.3056 from $1.2929 late Monday. Last Thursday, it hit a 15-month low of $1.2857 after an Italian bond auction disappointed investors. On Tuesday, the better economic data had investors more willing to buy riskier currencies. 

The price of oil rose $4.13 to $102.96 per barrel in its first trading of 2012. Tensions grew over key Persian Gulf oil shipments after Iran warned the United States to stay out of the strategically important Strait of Hormuz waterway. 

The dollar and Treasury prices fell as investors shed low-risk assets. The yield on the U.S. government's 10-year Treasury note, which moves in the opposite direction from its price, rose to 1.95 percent from 1.88 percent late Friday. 

Gold rose 2.2 percent. In other stock trading, the Nasdaq closed up 43.57, or 1.7 percent, at 2,648.72. 

U.S. investors were also reacting to news they had missed out on during the holidays. The markets were open last week, but trading volume was only about half its normal level. 

— Last Friday, a federal court delayed the implementation of new air-pollution regulations. So coal stocks did well Tuesday: Peabody Energy Corp. rose over 9 percent and James River Coal Co. soared close to 11 percent, while Alpha Natural Resources Inc. gained 8 percent. 

— Last Thursday, a JPMorgan analyst told clients that two wireless companies, Leap Wireless International Inc. and MetroPCS Communications Inc., could be targeted by AT&T or T-Mobile for takeovers. MetroPCS rose 8 percent Tuesday, and Leap rose over 6 percent. 

In other corporate news: 

— Chesapeake Energy Corp. rose almost 6 percent after the energy company sold a part of its Ohio oil and gas business to a unit of French energy company Total SA for $2.32 billion. 

— Rambus Inc. jumped 7 percent after the technology licensing company raised its fourth-quarter revenue forecast to $83 million from an earlier range of $66 million to $71 million.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks barely budged Wednesday, letting investors hold on to their gains from a strong opening to the year a day earlier. 

Strong December sales boosted carmakers and specialty retailers. Banks, health care companies, and utilities fell slightly. But nothing moved much. 

The Dow Jones industrial average edged up 21.04 points, or 0.2 percent, to close at 12,418.42. The Dow opened the year with a 180-point gain Tuesday, which brought it to the highest level since July. 

"It's healthy to see that after a big rally," said Randy Warren, chief investment officer for Warren Financial Service. "People need to sit back and think about it." 

The Standard & Poor's 500 index and Nasdaq were nearly flat. The S&P inched up 0.24 point to close at 1,277.30. The Nasdaq fell 0.36 point to 2,648.36. 

Specialty stores such as Bed Bath & Beyond rose on a report that mall shopping was strong in the week after Christmas. Retailing industry stocks rose 0.8 percent. A trade group estimated that after-Christmas sales rose 5.3 percent compared with a year ago. Bed Bath & Beyond Inc. rose 1.8 percent, and Ross Stores Inc., which sells discounted clothes, rose 0.7 percent. 

Big-box retailers fell. Analysts have been concerned that some stores raised holiday sales with deep discounts that will hurt profits. Wal-Mart Stores Inc. fell 1.1 percent, making it the second-biggest decliner among the Dow's 30 stocks. Target Corp. fell 2.2 percent and Kohl's Corp. fell 1.4 percent. 

Automakers delivered a strong end to 2011. Analysts had been expecting December to be a strong sales month for cars on the theory that more confidence in the economy would unlock pent-up demand. Ford Motor Co. rose 1.5 percent, and General Motors Co. rose 0.5 percent after those two companies and Chrysler reported strong increases in December and full-year sales. 

*The NYSE DOW NYSE DOW closed  HIGHER +21.04 +0.17%        on Wednesday January 4*
Sym .......Last .......Change.......... 
Dow  12,418.42  +21.04 +0.17% 
Nasdaq  2,648.36  -0.36 -0.01% 
S&P 500  1,277.30  +0.24 +0.02% 
30-yr Bond  3.0400 % +0.0490 

NYSE Volume  3,554,443,750  
Nasdaq Volume  1,690,198,875 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,668.45  -31.46 -0.55% 
DAX 6,111.55 -55.02 -0.89% 
CAC 40 3,193.65 -51.75 -1.59%

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,239.50  +84.30 +2.03% 
Shanghai Comp  2,169.39   -30.03 -1.37% 
Taiwan Wei...  7,082.97  +29.59 +0.42% 
Nikkei 225  8,560.11  +104.76 +1.24% 
Hang Seng  18,727.31  -150.10 -0.80% 
Straits Times 2,711.02   +22.66 +0.84% 

http://finance.yahoo.com/news/stock-market-ends-mixed-day-211400166.html

*Stock market ends mixed a day after big gains

Dow average ekes out a 21-point advance a day after big rally; a strong December for retailers*

By Joshua Freed, AP Business Writer 

Stocks barely budged Wednesday, letting investors hold on to their gains from a strong opening to the year a day earlier. 

Strong December sales boosted carmakers and specialty retailers. Banks, health care companies, and utilities fell slightly. But nothing moved much. 

The Dow Jones industrial average edged up 21.04 points, or 0.2 percent, to close at 12,418.42. The Dow opened the year with a 180-point gain Tuesday, which brought it to the highest level since July. 

"It's healthy to see that after a big rally," said Randy Warren, chief investment officer for Warren Financial Service. "People need to sit back and think about it." 

The Standard & Poor's 500 index and Nasdaq were nearly flat. The S&P inched up 0.24 point to close at 1,277.30. The Nasdaq fell 0.36 point to 2,648.36. 

Specialty stores such as Bed Bath & Beyond rose on a report that mall shopping was strong in the week after Christmas. Retailing industry stocks rose 0.8 percent. A trade group estimated that after-Christmas sales rose 5.3 percent compared with a year ago. Bed Bath & Beyond Inc. rose 1.8 percent, and Ross Stores Inc., which sells discounted clothes, rose 0.7 percent. 

Big-box retailers fell. Analysts have been concerned that some stores raised holiday sales with deep discounts that will hurt profits. Wal-Mart Stores Inc. fell 1.1 percent, making it the second-biggest decliner among the Dow's 30 stocks. Target Corp. fell 2.2 percent and Kohl's Corp. fell 1.4 percent. 

Automakers delivered a strong end to 2011. Analysts had been expecting December to be a strong sales month for cars on the theory that more confidence in the economy would unlock pent-up demand. Ford Motor Co. rose 1.5 percent, and General Motors Co. rose 0.5 percent after those two companies and Chrysler reported strong increases in December and full-year sales. 

Visa Inc. fell 1.8 percent and MasterCard Inc. fell 3.3 percent. Janney analysts downgraded both to "Neutral" from "Buy" and predicted that U.S. consumers will continue to reduce debt. 

Netflix Inc. soared 11 percent, the most in the S&P 500, after the DVD-by-mail and online video company said its customers streamed more than two billion hours of video during the fourth quarter. It was some welcome good news from a company that has had several missteps, including a failed plan to split the DVD and video streaming business. 

Ryan Detrick, senior technical analyst with Schaeffer's Investment Research, said it's good to see stock prices hold onto gains after a strong start to the year on Tuesday. 

"At least thus far in 2012 we haven't followed the path of 2011, where if it's a good day, there's a bad day right away," he said. "The recent trend is clearly to give back what you get just as fast." 

The yield on 10-year Treasury Notes briefly popped above 2 percent, although it fell to 1.99 percent in the afternoon. Yields have been falling over the past year as investors loaded up on low-risk investments. A rise in yields suggests that investors are more willing to take risks by parking money elsewhere in exchange for higher rewards. 

Gold prices rose $12.20, or 0.8 percent, to $1,612.70 per ounce. Oil prices rose 26 cents to $103.2. 

European markets declined, and the euro fell back below $1.30, to $1.2945, within a penny of its lowest level in a year. Another increase in Italy's borrowing costs renewed worries about Europe's efforts to restore confidence in its debt-hobbled governments. 

In other corporate news: 

”” Acme Packet Inc., which makes phone equipment, plunged 19 percent after saying its quarterly profit and revenue would be well below analyst expectations. 

”” Yahoo Inc. fell 3.1 percent after the company named Scott Thompson, president of eBay Inc.'s PayPal division, as CEO ”” its fourth in five years. Yahoo has been without a permanent CEO since firing Carol Bartz in September. EBay fell 3.8 percent. 

”” Fallen photography pioneer Eastman Kodak Co. dropped 28 percent to 46 cents after The Wall Street Journal, quoting unidentified people familiar with the matter, reported that Kodak is preparing for a Chapter 11 filing "in the coming weeks" in case efforts to sell digital-imaging patents fail. On Tuesday Kodak said its stock could be removed from the New York Stock Exchange if it doesn't rise above $1 in the next six months.


----------



## bigdog

Source: http://finance.yahoo.com

 It took the whole day, but stocks came all the way back.

Bruised once again by uncertainty about European debt, the U.S. stock market fell sharply Thursday at the open, then steadily gained ground for six hours. By the close, the Dow Jones industrial average had shaved its loss to less than three points.

It was the first decline of the year for the Dow. The Standard & Poor's 500 index gained just under four points and managed to extend its January winning streak to three days.

Investors looking for good news had the latest encouraging report on the U.S. job market. Weekly unemployment claims declined again, one day before a crucial report on the national jobs picture in December.

The Dow recovered from a 134-point loss to end down just 2.72 points at 12,415.70. The Standard & Poor's 500 index closed up 3.76 points at 1,281.06. The Nasdaq rose 21.5 points to 2,669.86.

The market has had a strong start to the year. The Dow is up 1.6 percent, the S&P 500 1.9 percent. The technology-focused Nasdaq composite is already 2.5 percent.

Stocks spent the morning underwater. Worries about Europe's financial crisis appeared to outweigh a jobs report that showed a drop in new applications for unemployment insurance.

*The NYSE DOW NYSE DOW closed   LOWER      -2.72 -0.02%       on Thursday January 5*
Sym .......Last .......Change.......... 
Dow  12,415.70  -2.72 -0.02% 
Nasdaq  2,669.86  +21.50 +0.81% 
S&P 500  1,281.06  +3.76 +0.29% 
30-yr Bond  3.0600 % +0.0140 

NYSE Volume  4,264,649,000  
Nasdaq Volume  1,859,210,875 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,624.26  -44.19 -0.78% 
DAX 6,095.99 -15.56 -0.25%  
CAC 40 3,144.91 -48.74 -1.53%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,196.60  -42.90 -1.01% 
Shanghai Comp   2,148.45   -20.94 -0.97% 
Taiwan Wei...  7,130.86  +47.89 
Nikkei 225  8,488.71  -71.40 -0.83% 
Hang Seng  18,813.41  +86.10 +0.46% 
Straits Times 2,713.02  +2.00 +0.07% 

http://news.yahoo.com/dow-average-marks-first-tiny-loss-2012-215017659.html

*Dow average marks its first (tiny) loss of 2012*
By JOSHUA FREED 

It took the whole day, but stocks came all the way back.

Bruised once again by uncertainty about European debt, the U.S. stock market fell sharply Thursday at the open, then steadily gained ground for six hours. By the close, the Dow Jones industrial average had shaved its loss to less than three points.

It was the first decline of the year for the Dow. The Standard & Poor's 500 index gained just under four points and managed to extend its January winning streak to three days.

Investors looking for good news had the latest encouraging report on the U.S. job market. Weekly unemployment claims declined again, one day before a crucial report on the national jobs picture in December.

The Dow recovered from a 134-point loss to end down just 2.72 points at 12,415.70. The Standard & Poor's 500 index closed up 3.76 points at 1,281.06. The Nasdaq rose 21.5 points to 2,669.86.

The market has had a strong start to the year. The Dow is up 1.6 percent, the S&P 500 1.9 percent. The technology-focused Nasdaq composite is already 2.5 percent.

Stocks spent the morning underwater. Worries about Europe's financial crisis appeared to outweigh a jobs report that showed a drop in new applications for unemployment insurance.

Trading in UniCredit, a large Italian bank, was halted after the stock lost a quarter of its value. The bank said Wednesday that it would need to offer huge discounts to investors to raise money.

And a financial crisis deepened in Hungary, which had to pay a staggeringly high interest rate of 10 percent on its 12-month debt. That is far above the 7 percent level that forced Greece and Portugal to seek bailouts.

Taken together, the news raised fears on Wall Street that Europe's debt crisis would spread from small countries such as Greece and infect much larger ones such as Italy that are too big to be bailed out.

"The positives that are coming out of our economy are less significant than the fear that is coming out of Europe," said Ralph Fogel, an investment strategist and partner at Fogel Neale Partners in New York.

Stocks fell more than 2 percent in Italy, Greece and Spain. Markets in the bigger, more stable economies of Britain and Germany fell slightly. The CAC-40 in France fell 1.5 percent.

The euro fell to just below $1.28, down more than a penny from Wednesday, to its lowest since September 2010. The euro spent most of last year, even the most uncertain days of the European debt crisis, above $1.30.

In the U.S., Barnes & Noble plunged 17 percent after lowering its profit forecast and saying it might spin off its Nook e-reader, which faces competition from the Amazon Kindle and the Apple iPad.

Other retailers fell, too, after their December sales failed to impress Wall Street.

Upscale stores did well, but others struggled. Macy's beat expectations for sales and rose 1 percent. But Target, J.C. Penney Co. and Gap were all among the worst performers in the S&P 500, each down more than 2.7 percent.

The Labor Department reported another drop in the number of people filing for unemployment benefits, and ADP, which processes payroll data, said private employers added 325,000 jobs last month.

The reports signaled further, though not dramatic, improvement in the job market. The government reports Friday on how many jobs were created in December and on the unemployment rate, which stands at 8.6 percent.

In other U.S. corporate news:

”” MetroPCS Communications Inc., the fifth-largest cellphone company in the U.S., fell 8.9 percent after reporting new subscriber growth that was lower than analysts had expected.

”” Constellation Brands Inc., which makes Robert Mondavi wine and Svedka vodka, fell 3.5 percent after its quarterly profit dropped 25 percent. North American wine and beer sales were weaker.

”” Tesoro Corp., a Texas oil refiner, plunged 5.9 percent. It said it lost money in the final three months of 2011 because the rising price of crude oil made refining more expensive at the same time gasoline prices were falling.


----------



## bigdog

Source: http://finance.yahoo.com

The stock market offered a reminder Friday that even if the U.S. job market is improving, there's plenty to worry about elsewhere in the world. 

The unemployment rate fell in December to 8.5 percent, the lowest level in nearly three years. Yet stock indexes teetered between small gains and losses all day as traders fretted about Europe's ongoing financial drama. 

Italy's borrowing costs spiked to dangerously high levels and the euro fell to a 16-month low against the dollar. U.S. bank stocks fell on concerns that the debt crisis will spread through the financial industry. 

The Dow Jones industrial average ended down nearly 56 points and the S&P had a tiny loss, its first of the year. Both gained more than 1 percent over the first week of 2012. 

Most European markets closed lower after new data showed economic sentiment and retail sales falling across the region. Unemployment is stuck at 10.3 percent in the 17 nations that use the euro. 

Europe's debt woes and China's slowing economy are overshadowing signs of strength in the U.S. economy, said Doug Cote, chief market strategist at ING Investment Management. 

"The global risks continue to exert their weight," Cote said. Ultimately, improving U.S. stronger consumer demand, manufacturing activity and corporate profits will drive U.S. stocks higher, Cote said. 

The Dow Jones industrial average fell 55.78 points, or 0.5 percent, to 12,359.92. Alcoa Inc. was the Dow's biggest loser, slipping 2.1 percent. A Citi analyst forecast that the aluminum maker lost money in the fourth quarter of 2011 for the first time since the recession. Alcoa, which reports earnings Monday, said late Thursday it would close an aluminum smelter in Tennessee and other operations to cut costs.

*The NYSE DOW NYSE DOW closed LOWER -55.78 -0.45%  on Friday January 6*
Sym .......Last .......Change.......... 
Dow  12,359.92  -55.78 -0.45% 
Nasdaq  2,674.22  +4.36 +0.16% 
S&P 500  1,277.81  -3.25 -0.25% 
30-yr Bond  3.0200 % -0.0410 

NYSE Volume  3,544,665,750  
Nasdaq Volume  1,706,199,500 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,649.68 +25.42 +0.45%  
DAX 6,057.92 -38.07 -0.62%  
CAC 40 3,137.36 -7.55 -0.24%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,164.50  -32.10 -0.76% 
Shanghai Comp  2,163.39 +14.94 +0.70% 
Taiwan Wei...  7,120.51  -10.35 -0.15% 
Nikkei 225 8,390.35 -98.36 -1.16% 
Hang Seng 18,593.06 -220.35 -1.17% 
Straits Times 2,715.59 +2.57 +0.09%

http://finance.yahoo.com/news/positive-jobs-report-fails-lift-211211114.html

*Positive jobs report fails to lift stocks

Stocks close mixed even after strong December jobs report; Europe worries weigh on the market*

The stock market offered a reminder Friday that even if the U.S. job market is improving, there's plenty to worry about elsewhere in the world. 

The unemployment rate fell in December to 8.5 percent, the lowest level in nearly three years. Yet stock indexes teetered between small gains and losses all day as traders fretted about Europe's ongoing financial drama. 

Italy's borrowing costs spiked to dangerously high levels and the euro fell to a 16-month low against the dollar. U.S. bank stocks fell on concerns that the debt crisis will spread through the financial industry. 

The Dow Jones industrial average ended down nearly 56 points and the S&P had a tiny loss, its first of the year. Both gained more than 1 percent over the first week of 2012. 

Most European markets closed lower after new data showed economic sentiment and retail sales falling across the region. Unemployment is stuck at 10.3 percent in the 17 nations that use the euro. 

Europe's debt woes and China's slowing economy are overshadowing signs of strength in the U.S. economy, said Doug Cote, chief market strategist at ING Investment Management. 

"The global risks continue to exert their weight," Cote said. Ultimately, improving U.S. stronger consumer demand, manufacturing activity and corporate profits will drive U.S. stocks higher, Cote said. 

The Dow Jones industrial average fell 55.78 points, or 0.5 percent, to 12,359.92. Alcoa Inc. was the Dow's biggest loser, slipping 2.1 percent. A Citi analyst forecast that the aluminum maker lost money in the fourth quarter of 2011 for the first time since the recession. Alcoa, which reports earnings Monday, said late Thursday it would close an aluminum smelter in Tennessee and other operations to cut costs. 

The latest sign that the labor market is strengthening failed to spur buying by investors. The unemployment rate fell last month to 8.5 percent, while U.S. employers added a net 200,000 jobs, the Labor Department said. 

The economy has generated 100,000 or more jobs each month for the past six, the longest such streak since April 2006. The number of people applying for unemployment benefits last week fell, pushing the four-week average of new claims down to its lowest level since June 2008. 

In other trading, the Standard & Poor's 500 index fell 3.25 points, or 0.3 percent, to 1,277.81. The Nasdaq composite index rose 4.36, or 0.2 percent, to 2,674.22. 

It was the second day in a row of indecisive trading on the stock market. The Dow and the S&P closed nearly unchanged Thursday. The indexes still had strong gains in this first, shortened trading week of the year. The Dow is up 1.2 percent this week, the S&P 1.6 percent. Trading was closed Monday, when the New Year's Day holiday was observed. 

The euro fell as low as $1.2696 Friday, its lowest point since Sept. 10, 2010. The yield on the 10-year Treasury note fell to 1.97 percent from 2 percent late Thursday as investors put money into low-risk investments. Bond yields fall when demand for them increases. 

Italy is now paying 7.09 percent to borrow for 10 years, reflecting investors' fears that the nation might default. Ireland and Portugal were forced to take bailouts when their ten-year borrowing rates rose above 7 percent. 

Unlike those nations, Italy is too big for the rest of Europe to bail out. Leaders of France and Italy met in Paris on Friday to discuss the spiraling debt crisis that threatens to engulf both nations and push much of the region into recession. 

In corporate news: 

— Family Dollar Stores Inc. plunged 7.5 percent, the most in the S&P 500, after reporting revenue that was less than Wall Street expected. 

— Dendreon Corp. jumped 16.3 percent after the drug developer said sales of its prostate-cancer therapy Provenge kept growing in the fourth quarter. Sales of the drug jumped 25 percent over the previous quarter. 

— Global Payments Inc. fell 3.4 percent after the processor of credit, debit and gift card payments reported earnings that fell short of analysts' expectations. Janney Capital Markets analyst Thomas McCrohan said prospects for a sustained increased in profit margins "remain fleeting."

3798


----------



## bigdog

Source: http://finance.yahoo.com

 Stocks drifted higher Monday in a fourth consecutive listless session. Traders waited for corporate financial results to start rolling in so they could look for clues about the economy. 

In the unofficial kickoff to earnings season, Alcoa, considered an economic bellwether because so many companies use its products, said it lost $34 million from October through December because of lower demand for aluminum. 

The results were released after the market closed for the day. Alcoa stock finished up 27 cents, or 2.9 percent, at $9.43, the biggest gain of the 30 companies in the Dow Jones industrial average. 

The Dow closed up 32.77 points, or 0.3 percent, at 12,392.69. The broader Standard & Poor's 500 index gained 2.89 points, or 0.2 percent, to 1,280.70. The Nasdaq composite index rose 2.34, or 0.1 percent, to 2,676.56. 

Stock trading has been subdued in recent days. The Dow's high and low were only 75 points apart Monday. In all of 2011, trading was that narrow on only 26 days. In the final five months, the average daily swing was 249 points. 

The broader market has been calm, too. The S&P rose 19 points Jan. 3, the first trading day of the year, but has risen or fallen by less than four points each of the following four days. 

Analysts think profit growth slowed for U.S. multinational companies from October through December because of weaker demand overseas. Europe is on the brink of recession, and China's explosive economy is cooling. 

*The NYSE DOW NYSE DOW closed  HIGHER  +32.77 +0.27% on Monday January 9*
Sym .......Last .......Change.......... 
Dow  12,392.69  +32.77 +0.27% 
Nasdaq  2,676.56  +2.34 +0.09% 
S&P 500  1,280.70  +2.89 +0.23% 
30-yr Bond  3.0290 % +0.0130 

NYSE Volume  3,274,055.25  
Nasdaq Volume  1,803,014.88 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,612.26 -37.42 -0.66%  
DAX 6,017.23 -40.69 -0.67% 
CAC 40 3,146.25 +8.89 +0.28%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,161.50  -3.00 -0.07% 
Shanghai Comp  2,225.89   +62.49 +2.89% 
Taiwan Wei...  7,093.04  -27.47 -0.39% 
Nikkei 225  8,390.35  -98.36 -1.16% 
Hang Seng  18,865.72  +272.66 +1.47% 
Straits Times 2,694.09   -21.50 -0.79% 

http://finance.yahoo.com/news/calm-wall-street-ahead-corporate-215749185.html

*Calm on Wall Street ahead of corporate earnings

Stocks float higher in another quiet session on Wall St.; traders await corporate earnings*

By Daniel Wagner, AP Business Writer 

Stocks drifted higher Monday in a fourth consecutive listless session. Traders waited for corporate financial results to start rolling in so they could look for clues about the economy. 

In the unofficial kickoff to earnings season, Alcoa, considered an economic bellwether because so many companies use its products, said it lost $34 million from October through December because of lower demand for aluminum. 

The results were released after the market closed for the day. Alcoa stock finished up 27 cents, or 2.9 percent, at $9.43, the biggest gain of the 30 companies in the Dow Jones industrial average. 

The Dow closed up 32.77 points, or 0.3 percent, at 12,392.69. The broader Standard & Poor's 500 index gained 2.89 points, or 0.2 percent, to 1,280.70. The Nasdaq composite index rose 2.34, or 0.1 percent, to 2,676.56. 

Stock trading has been subdued in recent days. The Dow's high and low were only 75 points apart Monday. In all of 2011, trading was that narrow on only 26 days. In the final five months, the average daily swing was 249 points. 

The broader market has been calm, too. The S&P rose 19 points Jan. 3, the first trading day of the year, but has risen or fallen by less than four points each of the following four days. 

Analysts think profit growth slowed for U.S. multinational companies from October through December because of weaker demand overseas. Europe is on the brink of recession, and China's explosive economy is cooling. 

Quarterly profits for S&P 500 companies will probably only grow at half the rate of the previous three quarters, said Sam Stovall, chief equity strategist at S&P's Capital IQ. The companies generate about half their revenue overseas, he said. 

The U.S. is in a "half-speed recovery, and that probably isn't enough to offset the weakness in Europe and Asia," Stovall said. 

Many analysts expect materials companies such as Alcoa to suffer as developing nations expand more slowly. Government-funded construction booms had driven up prices for metals and other basic products. 

"China, India, Latin America ”” that's where those companies have been really driving sales in the last few quarters," said John Butters, senior earnings analyst at FactSet, a provider of financial data. 

He said investors should pay close attention to what companies say about their overseas sales for clues to their future performance. 

Analysts with S&P Capital IQ took a brighter view of the materials sector. They said in a note to clients that rising prices for steel, gases and chemicals will help offset declining global demand. 

Another reason to expect slower profit growth: The results for the last three months of 2011 will be compared with the last three months of 2010, which are not as easy to improve on as results from earlier in 2010. 

In early 2010, the U.S. was just emerging from its deepest recession in decades. Changes in the economy since late 2010 have been less dramatic, so the comparisons are more challenging, Butters said. 

European markets closed lower Monday. French and German leaders met to craft the regional fiscal treaty that they agreed to pursue last year. It was their first crisis summit of the year. 

The treaty would strengthen controls of spending by the 17 countries that use the euro. Excessive borrowing by nations such as Greece and Italy has hurt the European economy and roiled the financial industry. 

About two stocks rose for every one that fell on the New York Stock Exchange. Volume remained light at 3.28 billion shares. 

In other corporate news: 

”” Netflix Inc. shot up 13.8 percent after the company made its debut in Britain and Ireland. The stock has gained 28 percent this year, best in the S&P 500. Netflix traded above $300 last summer, then plunged to $62 after the company surprised customers with a price increase. 

”” CareFusion Corp. plunged 8.6 percent, the most in the S&P 500. The company, which makes medical equipment, announced preliminary results that were weaker than analysts had expected. 

”” Inhibitex Inc., which makes medicine to treat hepatitis C, soared 140 percent after Bristol-Myers Squibb said over the weekend that it would buy the company for $2.5 billion. Other developers of hepatitis C treatments followed the rally. Idenix Pharmaceuticals Inc. jumped 37 percent, and Achillion Pharmaceuticals Inc. added 22.7 percent.


----------



## bigdog

Source: http://finance.yahoo.com

 U.S. stocks rose solidly Tuesday after European markets rallied and corporate bellwether Alcoa predicted stronger demand in 2012. The Standard & Poor's 500 index closed at its highest level since July.

European markets soared after Fitch Ratings said that it will not downgrade France's credit rating this year. France's CAC-40 index closed 2.7 percent higher; Germany's DAX rose 2.4 percent.

A downgrade for France could scuttle the region's efforts to stem its debt crisis. Europe's bailout fund needs France and Germany to keep their sterling credit ratings so it can borrow at affordable rates.

Kicking off U.S. corporate earnings season, aluminum maker Alcoa said late Monday that its fourth-quarter revenue far outpaced analysts' projections. CEO Klaus Kleinfeld predicted that global aluminum demand will increase 7 percent in 2012. Aluminum demand offers clues about for broader economic trends because so many industries rely on the metal.

Many analysts had feared weaker corporate profits in the fourth quarter because of Europe's deepening economic troubles and slower growth in the developing world. The solid report from Alcoa seemed to quell those concerns and lifted traders' hopes for strong corporate earnings reports in the coming weeks.

The S&P 500 index rose 11.38 points, or 0.9 percent, to 1,292.08. All 10 of its industry groups rose. Among the biggest gainers were materials companies such as Alcoa, which benefit from rising prices for metals, energy and other commodities.

*The NYSE DOW NYSE DOW closed  HIGHER +69.78 +0.56% on Tuesday January 10*
Sym .......Last .......Change.......... 
Dow  12,462.47  +69.78 +0.56% 
Nasdaq  2,702.50  +25.94 +0.97% 
S&P 500  1,292.08  +11.38 +0.89% 
30-yr Bond  3.0300 % -0.0020 

NYSE Volume  4,200,991,500  
Nasdaq Volume  1,844,486,875  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,696.70 +84.44 +1.50% 
DAX 6,162.98 +105.06 +1.73% 
CAC 40 3,210.79 +83.10 +2.66% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,206.60  +45.10 +1.08% 
Shanghai Comp  2,285.74   +59.85 +2.69% 
Taiwan Wei...  7,178.87  +85.83 
Nikkei 225  8,422.26  +31.91 +0.38% 
Hang Seng  19,004.28  +138.56 +0.73% 
Straits Times 2,719.83   +28.55 +1.06% 

http://finance.yahoo.com/news/stocks-close-higher-hopes-earnings-211841035.html

*Stocks close higher on hopes for earnings, Europe

Stock rise on hopes for strong US corporate earnings season; Europe fears recede, for now*

By Daniel Wagner, AP Business Writer 

U.S. stocks rose solidly Tuesday after European markets rallied and corporate bellwether Alcoa predicted stronger demand in 2012. The Standard & Poor's 500 index closed at its highest level since July.

European markets soared after Fitch Ratings said that it will not downgrade France's credit rating this year. France's CAC-40 index closed 2.7 percent higher; Germany's DAX rose 2.4 percent.

A downgrade for France could scuttle the region's efforts to stem its debt crisis. Europe's bailout fund needs France and Germany to keep their sterling credit ratings so it can borrow at affordable rates.

Kicking off U.S. corporate earnings season, aluminum maker Alcoa said late Monday that its fourth-quarter revenue far outpaced analysts' projections. CEO Klaus Kleinfeld predicted that global aluminum demand will increase 7 percent in 2012. Aluminum demand offers clues about for broader economic trends because so many industries rely on the metal.

Many analysts had feared weaker corporate profits in the fourth quarter because of Europe's deepening economic troubles and slower growth in the developing world. The solid report from Alcoa seemed to quell those concerns and lifted traders' hopes for strong corporate earnings reports in the coming weeks.

The S&P 500 index rose 11.38 points, or 0.9 percent, to 1,292.08. All 10 of its industry groups rose. Among the biggest gainers were materials companies such as Alcoa, which benefit from rising prices for metals, energy and other commodities.

Food commodities mostly edged lower, but orange juice futures shot up 11 percent. The Food and Drug Administration said it would increase testing for a fungicide that was found in low levels in orange juice.

Tiffany & Co. plunged 10 percent, the most in the S&P 500 index. The jewelry retailer cut its forecast for full-year profit and said sales grew slowly in the U.S. and Europe during the holiday season.

The Dow Jones industrial average rose 69.78 points, or 0.6 percent, to 12,462.47. The Nasdaq composite index gained 25.94, or 1 percent, to 2,702.50.

Hedge fund manager Peter Tchir said recent market swings exaggerate the importance of minor news such as Alcoa's guidance and the Fitch announcement. The indexes are vulnerable to steep swings because relatively few shares are changing hands, he said.

Tchir is focused squarely on Europe's fundamental problem, which remains unresolved: Sky-high borrowing costs for indebted nations such as Italy and Spain. A default by one of them could upend the global economy. Italy's benchmark 10-year bond yield remains dangerously high at 7.10 percent.

Despite Europe's troubles, the U.S. economy appears to have strengthened in recent weeks. A series of positive reports on hiring, manufacturing and consumer sentiment eased fears that Europe will drag the U.S. into another recession.

Traders hope the brighter economic outlook will mean U.S. corporate earnings results, which will be announced over the next few weeks. Improvements in the job market and more spending by consumers would increase companies' sales. Household spending is the main engine of economic growth.

Corporate news in Europe reflected the region's descent into near-inevitable recession. Dutch electronics giant Royal Philips Electronics NV kicked off the European earnings season by announcing that its fourth-quarter profits will be worse than expected as a result of Europe's economic weakness.

Among the companies making big moves:

”” Yoga apparel chain Lululemon Athletica Inc. surged 12 percent after the company raised its fiscal fourth-quarter earnings and revenue forecast, citing better-than-expected sales of its athletic wear.

”” WebMD Health Corp. plunged 29 percent. The healthcare information website said it has given up looking for a buyer, its CEO has resigned, and it expects earnings to drop this year. WebMD provides health and benefits information to employees at 121 companies and health plans.

”” Cirrus Logic Inc., which supplies audio chips to Apple and other electronics companies, jumped 16 percent. The company said it expects to report fourth-quarter revenue that is well above its previous forecast and analysts' expectations.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow edges lower on new Europe worries

US stocks end mixed with worries about slowing German economy; Urban Outfitters plunges.

The Dow Jones industrial average crept lower Wednesday as Europe edged closer to a recession that would hurt corporate profits in the U.S. The first earnings reports from American companies didn't add much encouragement. 

Germany reported that its economy, the largest in Europe, shrank slightly at the end of last year. And the European Union revised its figures for economic growth in the third quarter to 0.1 percent, its slowest pace in more than two years. 

"Europe is still the main risk," said Jeffrey Kleintop, chief market strategist at LPL Financial. "Yes, they've been making progress on their budgets, but they clearly have growth problems." 

The Dow dropped 13.02 points, or 0.1 percent, to close at 12,449.45 in another day of light trading. 

The European Commission also said Hungary has taken "no effective action" to contain its budget deficit. Stock markets in Germany and France fell slightly, and the euro dropped half a penny against the dollar, to $1.27. 

The United States depends on Europe to buy about 20 percent of its exports, and concerns about Europe have led analysts to lower their profit estimates for U.S. companies. 

Profits at S&P 500 companies are expected to rise 7.2 percent for the last three months of 2011, according to Standard & Poor's Capital IQ. That's much lower than the 17.6 percent growth reported in the third quarter. 

Judging by the S&P 500 index, investors seem to think earnings could fall much further, Kleintop said. The index is trading at about 13 times the past year's earnings of its companies ”” close to what it was at the end of 1990, when the economy was in recession. Earnings fell 20 percent during that downturn. 

The S&P 500 gained 0.4 of a point on Wednesday to 1,292.48. The Nasdaq composite index rose 8.26, or 0.3 percent, to 2,710.76. The Nasdaq has gained 4 percent this year, the most of the major indexes. The Dow is up 1.9 percent, the S&P 2.8 percent. 

*The NYSE DOW NYSE DOW closed  LOWER   -13.02 -0.10%     on Wednesday January 11*
Sym .......Last .......Change.......... 
Dow  12,449.45  -13.02 -0.10% 
Nasdaq  2,710.76  +8.26 +0.31% 
S&P 500  1,292.48  +0.40 +0.03% 
30-yr Bond  2.9600 % -0.0680 

NYSE Volume  3,968,473,750  
Nasdaq Volume  1,735,745,250 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,670.82 -25.88 -0.45% 
DAX 6,152.34 -10.64 -0.17% 
CAC 40 3,204.83 -5.96 -0.19% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,242.90  +36.30 +0.86% 
Shanghai Comp  2,276.05   -9.70 -0.42% 
Taiwan Wei...  7,188.21  +9.34 +0.13% 
Nikkei 225  8,447.88  +25.62 +0.30% 
Hang Seng  19,151.94  +147.66 +0.78% 
Straits Times 2,747.13   +27.30 +1.00% 

http://finance.yahoo.com/news/The-Dow-edges-lower-new-apf-1206960138.html?x=0

*The Dow edges lower on new Europe worries

US stocks end mixed with worries about slowing German economy; Urban Outfitters plunges*

By Matthew Craft, AP Business Writer 

NEW YORK (AP) -- The Dow Jones industrial average crept lower Wednesday as Europe edged closer to a recession that would hurt corporate profits in the U.S. The first earnings reports from American companies didn't add much encouragement. 

Germany reported that its economy, the largest in Europe, shrank slightly at the end of last year. And the European Union revised its figures for economic growth in the third quarter to 0.1 percent, its slowest pace in more than two years. 

"Europe is still the main risk," said Jeffrey Kleintop, chief market strategist at LPL Financial. "Yes, they've been making progress on their budgets, but they clearly have growth problems." 

The Dow dropped 13.02 points, or 0.1 percent, to close at 12,449.45 in another day of light trading. 

The European Commission also said Hungary has taken "no effective action" to contain its budget deficit. Stock markets in Germany and France fell slightly, and the euro dropped half a penny against the dollar, to $1.27. 

The United States depends on Europe to buy about 20 percent of its exports, and concerns about Europe have led analysts to lower their profit estimates for U.S. companies. 

Profits at S&P 500 companies are expected to rise 7.2 percent for the last three months of 2011, according to Standard & Poor's Capital IQ. That's much lower than the 17.6 percent growth reported in the third quarter. 

Judging by the S&P 500 index, investors seem to think earnings could fall much further, Kleintop said. The index is trading at about 13 times the past year's earnings of its companies ”” close to what it was at the end of 1990, when the economy was in recession. Earnings fell 20 percent during that downturn. 

The S&P 500 gained 0.4 of a point on Wednesday to 1,292.48. The Nasdaq composite index rose 8.26, or 0.3 percent, to 2,710.76. The Nasdaq has gained 4 percent this year, the most of the major indexes. The Dow is up 1.9 percent, the S&P 2.8 percent. 

Supervalu, a grocery store operator, plunged after reporting a wider-than-expected quarterly loss because of high food prices and costs related to a turnaround plan. Its stock lost 12 percent. 

Orange juice prices settled lower Wednesday. They hit their highest levels since 2007 on Tuesday when the U.S. government said that a potentially harmful fungicide had been found in Brazilian imports. 

The futures contract for orange juice fell to $1.88 from $2.08 the day before. Futures have been rising since December, largely over concerns that cold weather in Florida could damage the crop there. 

Even with Wednesday's decline, OJ is up 14 percent from its recent low of $1.65 on Dec. 21. 

The recent jump in orange juice futures hit Coca-Cola, owner of Minute Maid, and PepsiCo, which has Tropicana. Coca-Cola sank 1.8 percent. PepsiCo fell 1 percent. 

Among other large companies making moves: 

”” Urban Outfitters Inc. dropped 18 percent, the steepest fall of any stock in the S&P 500, following the abrupt resignation of its CEO, Glen Senk. The company, which also runs the Anthropologie and Free People stores, said last week that tough competition and a drive to reduce inventory led to more markdowns than expected during the holiday shopping season. 

”” Commercial Metals Co. fell 6 percent to $13.88 after investor Carl Icahn said he would end his hostile takeover attempt of the company. Only 23 percent of Commercial Metals' shareholders supported Icahn's $15-per-share offer, far short of Icahn's goal of 40.1 percent. 

”” Lennar Corp. rose 7.2 percent. Sales rose as the builder delivered more houses. Lennar reported a drop in quarterly earnings but said the housing market is starting to stabilize with the help of lower home prices and low interest rates.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks finish higher after late-day recovery

Late recovery leaves stock indexes with small gains; Italy and Spain have strong bond auctions

A drop in oil prices and strong bond auctions in Europe drove stocks to a slightly higher close Thursday. The Standard & Poor's 500 index rose for the fourth straight day. 

The Dow Jones industrial average gained 21.57 points, or 0.2 percent, to end at 12,471.02 It was down most of the day, losing 64 points in the first hour of trading, following a spike in unemployment claims and a weak report on December retail sales. 

Materials and industrial companies led the afternoon recovery. Caterpillar and Alcoa rose the most in the Dow. The S&P 500 finished up 3.02 points, or 0.2 percent, at 1,295.50. The Nasdaq composite rose 13.94 points, 0.5 percent, to 2,724.70 

Stocks drove higher in the last hour and a half of trading after oil prices dropped below $100 per barrel for the first time this year. Oil fell on rumors that Europe will delay an embargo on Iran. Crude plunged $2 a barrel in just eight minutes, ending at $99. 

Also pushing stocks were strong bond auctions in Italy and Spain. European markets ended mostly higher rose after Italy and Spain held highly successful bond auctions, easing worries about Europe's debt crisis. Italy's benchmark stock index rose 2.1 percent. 

*The NYSE DOW NYSE DOW closed  HIGHER +21.57 +0.17%   on Thursday January 12*
Sym .......Last .......Change.......... 
Dow  12,471.02  +21.57 +0.17% 
Nasdaq  2,724.70  +13.94 +0.51% 
S&P 500  1,295.50  +3.02 +0.23% 
30-yr Bond  2.98 % +0.0210 

NYSE Volume  3,942,435.00  
Nasdaq Volume  1,698,902.50 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,662.42 -8.40 -0.15% 
DAX 6,179.21 +26.87 +0.44% 
CAC 40 3,199.98 -4.85 -0.15%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,238.40  -4.50 -0.11% 
Shanghai Comp   2,275.01   -10.73 -0.47% 
Taiwan Wei...  7,186.58  -1.63 -0.02% 
Nikkei 225  8,385.59  -62.29 -0.74% 
Hang Seng  19,095.38  -56.56 -0.30% 
Straits Times 2,743.66   -3.47 -0.13% 

http://finance.yahoo.com/news/stocks-finish-higher-day-recovery-211341639.html

*Stocks finish higher after late-day recovery

Late recovery leaves stock indexes with small gains; Italy and Spain have strong bond auctions*

By Samantha Bomkamp, AP Business Writer 



NEW YORK (AP) -- A drop in oil prices and strong bond auctions in Europe drove stocks to a slightly higher close Thursday. The Standard & Poor's 500 index rose for the fourth straight day. 

The Dow Jones industrial average gained 21.57 points, or 0.2 percent, to end at 12,471.02 It was down most of the day, losing 64 points in the first hour of trading, following a spike in unemployment claims and a weak report on December retail sales. 

Materials and industrial companies led the afternoon recovery. Caterpillar and Alcoa rose the most in the Dow. The S&P 500 finished up 3.02 points, or 0.2 percent, at 1,295.50. The Nasdaq composite rose 13.94 points, 0.5 percent, to 2,724.70 

Stocks drove higher in the last hour and a half of trading after oil prices dropped below $100 per barrel for the first time this year. Oil fell on rumors that Europe will delay an embargo on Iran. Crude plunged $2 a barrel in just eight minutes, ending at $99. 

Also pushing stocks were strong bond auctions in Italy and Spain. European markets ended mostly higher rose after Italy and Spain held highly successful bond auctions, easing worries about Europe's debt crisis. Italy's benchmark stock index rose 2.1 percent. 

In Italy's first bond auction of the new year, the country was able to sell one-year bonds at a rate of just 2.735 percent, less than half the 5.95 percent rate it had to pay last month. That's a signal that investors are becoming more confident in Italy's ability to pay its debts. 

Spain was able to raise double the amount of money it had sought to raise in its own bond sale as demand for its debt was strong. Both auctions were seen as important tests of investor sentiment. 

Investors have been worried that Italy and Spain, the third- and fourth-largest countries in the euro area, might get dragged into the region's debt crisis. Greece, Ireland and Portugal have been forced to get relief from their lenders after their borrowing costs spiked to levels the countries could no longer afford. 

The euro rose nearly a penny against the dollar, to $1.28, as worries eased about Europe's financial woes. The currency, which is shared by 17 European countries, fell to a 16-month low against the dollar the day before. 

In other trading, corn futures plunged 6.1 percent to $6.12 per bushel after the government reported that supplies of the grain were higher than traders had expected. Wheat also fell 5.6 percent. An auction of 30-year Treasury bonds drew meager interest from investors as cash flowed back into European debt. 

It was the latest day of quiet trading in the stock market. There have been six consecutive days with moves of less than 1 percent in the S&P 500, the quietest stretch since May. 

Ralph Fogel, investment strategist and partner at Fogel Neale Partners in New York, said the moderate moves were an encouraging sign following the steep rises and sudden declines that were typical of last summer. "This is a much healthier market than we've seen." 

Unemployment benefits spiked last week to the highest level in six weeks, mostly because companies let go of thousands of holiday hires, the government reported. Retail sales barely rose in December and were lower than analysts were expecting. 

Despite the mixed news on the economy, investors are starting to focus on the U.S. corporate earnings season, which got under way this week with Alcoa Inc. The aluminum maker predicted stronger demand for its products this year and surprised the market with revenue that was higher than analysts were expecting. 

"There's a fair amount of pessimism out there but I also think that investors are slowly becoming immune to the bad news," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. "As long as the stuff you can sink your teeth into, like corporate profit, is improving, I think it bodes well for the markets this year." 

Among stocks making big moves: 

”” Chevron fell 2.6 percent after the world's second-largest publicly traded oil company said its income will be "significantly" below its fourth-quarter results in the prior quarter because of narrower margins on refining and selling fuels. 

”” CA Inc. jumped 4.3 percent. The hedge fund Taconic Capital disclosed in a regulatory filing that it has taken a 5.1 percent stake in the business software and technology company and is pressing CA to return more cash to shareholders and increase its profit margins. 

”” Casino operator Wynn Resorts Ltd. fell 2 percent. The company disclosed in a regulatory filing that its vice chairman has filed a lawsuit against the company. Kazuo Okada claims that Wynn has refused to give him access to records relating to a $135 million donation the company made to the University of Macau and other matters.


----------



## bigdog

Source: http://finance.yahoo.com

JPMorgan disappoints; banks lead stocks lower

Banks lead stock market lower as JPMorgan surprises Wall Street with disappointing earnings

A rare disappointing earnings report from JPMorgan Chase battered bank stocks on Friday and helped push the rest of the market lower. Rumors of imminent downgrades for the credit ratings of European governments drove the euro down and sent investors streaming into U.S. debt. 

The Dow Jones industrial average fell 48.96 points to close at 12,422.06, a drop of 0.4 percent. Markets were little changed late in the day after France's finance minister confirmed that Standard & Poor's had stripped the country of its AAA credit rating. 

Before the market opened, JPMorgan said quarterly profit declined 23 percent from a year earlier, slightly worse than what analysts expected. The bank's stock lost 2 percent, and other large banks followed. Morgan Stanley fell 3 percent and Goldman Sachs 2 percent. 

It was the first time JPMorgan missed Wall Street expectations since the final quarter of 2007, a period that includes the financial crisis of 2008 and 2009. JPMorgan is widely considered one of the best-managed big banks. Traders figured that if JPMorgan had trouble as 2011 came to a close, the rest of the industry probably did, too. 

"JPMorgan is the gold standard," said Phil Orlando, chief equity strategist at Federated Investors. "So what happens to the banks that aren't quite as strong and aren't quite as well-managed?" 

On trading desks, it's called the "cockroach theory," Orlando said. "You never see just one cockroach. If you see one, you know there's bound to be a lot more." 

The euro slipped to its lowest level in 17 months after reports surfaced that S&P would downgrade European governments. After the markets closed in New York, S&P announced cuts for France, Austria, Italy and Spain. 

The euro dropped 1.1 percent against the dollar to $1.27. Borrowing costs jumped for France, Italy and Spain, countries at the center of the region's debt crisis. 

The dollar and U.S. Treasury prices rose as investors moved money into lower-risk assets. The yield on the 10-year U.S. Treasury note fell to 1.86 percent from 1.93 percent late Thursday. 

S&P warned Dec. 5 that 15 countries that use the euro were at risk of downgrades, citing higher borrowing costs for top-rated governments and disagreements among European leaders. 

*The NYSE DOW NYSE DOW closed   LOWER    48.96 -0.39%       on Friday January 13*
Sym .......Last .......Change.......... 
Dow  12,422.06 -48.96 -0.39%
Nasdaq 2,710.67  -14.03 -0.51%
S&P 500 1,289.09  -6.41 -0.49% 
30-yr Bond 2.9000 % -0.0760

NYSE Volume 3,692,377,750
Nasdaq Volume 1,686,001,750

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,636.64 -25.78 -0.46%  
DAX 6,143.08 -36.13 -0.58%  
CAC 40 3,196.49 -3.49 -0.11%   

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,255.40  +17.00 +0.40% 
Shanghai Comp 2,244.58 -30.43 -1.34% 
Taiwan Wei...  7,181.54  -5.04 -0.07 
Nikkei 225  8,500.02  +114.43 +1.36% 
Hang Seng  19,204.42  +109.04 +0.57% 
Straits Times 2,791.54 +47.88 +1.75% 

http://finance.yahoo.com/news/JPMorgan-disappoints-banks-apf-3753764980.html?x=0

*JPMorgan disappoints; banks lead stocks lower

Banks lead stock market lower as JPMorgan surprises Wall Street with disappointing earnings*

By Matthew Craft, AP Business Writer 

NEW YORK (AP) -- A rare disappointing earnings report from JPMorgan Chase battered bank stocks on Friday and helped push the rest of the market lower. Rumors of imminent downgrades for the credit ratings of European governments drove the euro down and sent investors streaming into U.S. debt. 

The Dow Jones industrial average fell 48.96 points to close at 12,422.06, a drop of 0.4 percent. Markets were little changed late in the day after France's finance minister confirmed that Standard & Poor's had stripped the country of its AAA credit rating. 

Before the market opened, JPMorgan said quarterly profit declined 23 percent from a year earlier, slightly worse than what analysts expected. The bank's stock lost 2 percent, and other large banks followed. Morgan Stanley fell 3 percent and Goldman Sachs 2 percent. 

It was the first time JPMorgan missed Wall Street expectations since the final quarter of 2007, a period that includes the financial crisis of 2008 and 2009. JPMorgan is widely considered one of the best-managed big banks. Traders figured that if JPMorgan had trouble as 2011 came to a close, the rest of the industry probably did, too. 

"JPMorgan is the gold standard," said Phil Orlando, chief equity strategist at Federated Investors. "So what happens to the banks that aren't quite as strong and aren't quite as well-managed?" 

On trading desks, it's called the "cockroach theory," Orlando said. "You never see just one cockroach. If you see one, you know there's bound to be a lot more." 

The euro slipped to its lowest level in 17 months after reports surfaced that S&P would downgrade European governments. After the markets closed in New York, S&P announced cuts for France, Austria, Italy and Spain. 

The euro dropped 1.1 percent against the dollar to $1.27. Borrowing costs jumped for France, Italy and Spain, countries at the center of the region's debt crisis. 

The dollar and U.S. Treasury prices rose as investors moved money into lower-risk assets. The yield on the 10-year U.S. Treasury note fell to 1.86 percent from 1.93 percent late Thursday. 

S&P warned Dec. 5 that 15 countries that use the euro were at risk of downgrades, citing higher borrowing costs for top-rated governments and disagreements among European leaders. 

A cut to France's credit rating may fail to push rates up for France because bond traders were prepared for it, said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott. 

The danger is to the European rescue fund. France is the second-largest contributor to the fund behind Germany. Bond traders could respond to the French downgrade by raising borrowing costs for the rescue fund, in the expectation that its rating will be cut next. 

"The knock-on effects are far more significant than the impact on France itself," LeBas said. 

JPMorgan's results opened the earnings season for banks on a sour note. Though an increasing pace of earnings reports may help steer the markets over the coming days, Europe's debt crisis is likely to remain the focus. 

In other trading, the S&P 500 index fell 6.41, or 0.5 percent to 1,289.09. The Nasdaq composite index fell 14.03, or 0.5 percent, to 2,710.67. Even with Friday's fall, all three indexes posted gains for the second straight week. The S&P 500 index is up 2.5 percent to start the year. 

Among stocks making larger moves than the overall market Friday: 

— Diamond Foods Inc., which makes Emerald Nuts, plunged 10 percent after The Wall Street Journal reported that federal prosecutors had opened a criminal inquiry into its financial practices. The Journal also reported that two large shareholders had dumped most of their stakes in the company. 

— Safeway Inc., the grocery store chain, rose 1.8 percent. An analyst at Jefferies placed a "buy" rating on the stock on the expectation that the company will benefit from an improving job market, especially in California. 

— Alpha Natural Resources fell 10 percent, the largest loss in the S&P 500. The coal company bought Massey Energy last year, and the Justice Department is considering whether to prosecute the people who ran Massey when its Big Branch mine exploded in 2010.

4545


----------



## bigdog

Source: http://finance.yahoo.com


*The U.S. markets are closed Monday for Martin Luther King Jr. Day January 16*
Sym .......Last .......Change.......... 
Dow  12,422.06  
Nasdaq  2,710.67  
S&P 500  1,289.09  
30-yr Bond  2.9000

NYSE Volume  3,761,121,750  
Nasdaq Volume  1,689,729,125  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,657.44 +20.80 +0.37% 
DAX 6,220.01 +76.93 +1.25% 
CAC 40 3,225.00 +28.51 +0.89%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,208.90  -46.50 -1.09% 
Shanghai Comp  2,206.19   -38.39 -1.71% 
Taiwan Wei...  7,103.62  -77.92 -1.09 
Nikkei 225  8,378.36   -121.66 -1.43%         
Straits Times 2,756.49   -35.05 -1.26%
Hang Seng  19,012.20   -192.22 -1.00% 

http://finance.yahoo.com/news/share...BzdGNhdANuZXdzBHB0A3NlY3Rpb25zBHRlc3QD;_ylv=3

*European shares stabilize, economic data eyed*
By Richard Hubbard

LONDON (Reuters) - European shares and the euro gradually recovered on Monday from early losses triggered by the mass downgrade of euro zone sovereign ratings last week, but they still looked vulnerable amid rising fears of a disorderly Greek debt default.

Markets had already reacted to the downgrades on Friday, and European assets steadied by Monday afternoon, but activity was limited with U.S. markets closed and the problems in the region's debt markets continued to weigh on sentiment.

The European Central Bank more than tripled its bond purchases in the week to January 13 to calm market fears and halt the rise in yields, spending 3.77 billion euros compared with 1.1 billion the previous week, data showed on Monday.

However, the glimmer of hope which had emerged after solid bond auctions by Italy and Spain last week, and a view that the S&P move on ratings had been well telegraphed, helped steady market nerves though confidence could quickly ebb.

"If we were to see the start of a downward spiral, and any further loss of confidence in the euro zone started to materialize, that would have a broader negative impact for the euro and riskier currencies in general," said Lee Hardman, currency economist at Bank of Tokyo-Mitsubishi UFJ.

The euro was up 0.3 percent against the dollar at $1.2673 in late European trade in thin trading but was still seen vulnerable to a test of Friday's 17-month low of $1.2624.

The FTSEurofirst 300 .FTEU3) index of top European shares ended up about 0.8 percent at 1,025.64 points in low volume while the main euro zone bank stock index .SX7E) reversed some heavy early losses on fears the sector could be the next target for rating cuts to end up 0.3 percent.

World shares overall  recovered from losses seen in Asian trade to be just 0.1 percent higher.

DEBT FEARS REMAIN

Growing nervousness saw Europe's commercial banks park almost half a trillion euros at the European Central Bank, the highest on record, as the mix of debt crisis worries and a recent giant injection of ECB cash left banks awash with money but too scared to lend it.

Market attention was likely to switch on Tuesday to the state of the euro zone's economy with the latest ZEW survey on the health of the giant German economy due.

Germany's economy contracted by about 0.25 percent in the fourth quarter as growth slowed in the second half of last year, according to an estimate by the statistics office.

Berlin will cut its forecast for 2012 economic growth to just 0.75 percent yet expects the jobless rate to decline further to 6.8 percent on an annual basis a German newspaper, Ruhr Nachrichten, reported on Monday.

Investors also await Chinese GDP data to gauge the outlook for growth in the world's second-largest economy with forecasts calling for a fourth successive quarterly slowdown in growth to around 8.7 percent from 9.1 percent previously.

Debt markets are focused on Greece with senior officials from the government due in Washington for meetings with the International Monetary Fund to try to break a deadlock in debt swap talks that has prompted the fears of an unruly default.

The cost of insuring Italian, Spanish and other euro zone government debt against default rose on the S&P ratings cuts, while shorter-dated UK government bond yields fell. Safe-haven German government bonds retraced gains seen on Friday after reports first emerged of the S&P action.

The ECB was also reported by traders to be active in buying Italian government bonds to keep a lid on rising yields.

Italian five-year bond yields, which had been around 6 percent in early trade, dropped to around 5.77 percent on the reports of ECB buying.

The cost of insuring five-year Italian bonds rose to around 515 basis points from under 500 basis points on Friday, meaning it costs 515,000 euros to protect 10 million euros of exposure to Italian debt.

German Bund futures were slightly lower at 139.91, having hit a record high of 140.23 on Friday. Ten-year cash yields were little changed at 1.772 percent.

Italy takes a break from debt sales this week, but France plans to sell up to 8 billion euros of debt on Thursday and Spain comes to the market with sales of 2016, 2019 and 2022 bonds..

Yields on French treasury bills eased marginally on Monday in the first test of investor appetite for the country's debt since it was stripped of its coveted triple-A credit rating on Friday.

Concerns that European financial troubles will drag down global growth and sap appetite for commodities weighed on industrial metals such as copper, while spot gold held steady at around $1,645 an ounce.

However, oil futures rose on Monday on growing tension between Saudi Arabia and Iran, after the Islamic state told its Gulf Arab neighbors not to make up any shortfall caused by an embargo on its crude oil exports.

The latest threat comes as leaders of top Asian buyers of Iranian oil - China, Japan and South Korea - tour alternative Middle East suppliers while the United States pressures nations to stop importing oil from the Islamic Republic.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks close up on Europe debt sales, China growth

Stocks close higher after downgrades fail to squelch demand for European debt

 Slight improvements in Europe's troubled debt markets and China's economy were enough to lift stocks on Tuesday. The Dow Jones industrial average rose as many as 151 points in the morning before fading to a 60-point gain at the close. 

Debt auctions by Spain, Greece and Europe's bailout fund drew solid interest from investors, easing fears that recent credit-rating downgrades would prevent them from obtaining funds. The downgrades had threatened to increase borrowing costs and intensify the region's debt crisis. 

The Chinese government said earlier that its economy slowed less dramatically in the fourth quarter than analysts had expected. 

There's so much money sitting in short-term accounts and earning zero return that even a shred of good news can jolt the market higher, said David Kelly, chief market strategist with J.P. Morgan Funds. 

"The stock market is cheap, but cash and Treasurys are extremely expensive," Kelly said. "That's why even though people are busy taking money out of stocks and putting it into bond funds, they really should be doing the opposite." 

The Dow rose 60.01 points, or 0.5 percent, to close at 12,482.07. It was the Dow's highest close since July 26, before the European debt crisis set off months of wrenching volatility. The Dow is up 264 points in the first 10 days of the year, the best start to a year since 2003. 

The Standard & Poor's 500 index gained 4.58 points, or 0.4 percent, to 1,293.67. The S&P 500 had risen earlier to 1,303.02; it hasn't traded above 1,300 since Aug. 1. 

The Nasdaq composite index added 17.41 points, or 0.6 percent, to 2,728.08. 

The market was closed Monday for the Martin Luther King Jr. Day holiday. 

*The NYSE DOW NYSE DOW closed  HIGHER  +60.01 +0.48%     on Tuesday January 17*
Sym .......Last .......Change.......... 
Dow  12,482.07  +60.01 +0.48% 
Nasdaq  2,728.08  +17.41 +0.64% 
S&P 500  1,293.67  +4.58 +0.36% 
30-yr Bond  2.8900% -0.0130 

NYSE Volume  3,883,753,750  
Nasdaq Volume  1,819,276,375  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,693.95 +36.51 +0.65%  
DAX 6,332.93 +112.92 +1.82%  
CAC 40 3,269.99 +44.99 +1.40%   

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,277.70  +68.80 +1.63% 
Shanghai Comp  2,298.38   +92.18 +4.18%  
Taiwa We...  7,221.08  +117.46 +1.65% 
Nikkei 225  8,466.40  +88.04 +1.05% 
Hang eng  19,627.75  +615.55 +3.24% 
Straits Times  2,815.85   +59.36 +2.15% 

http://finance.yahoo.com/news/stocks-close-europe-debt-sales-210931589.html

*Stocks close up on Europe debt sales, China growth

Stocks close higher after downgrades fail to squelch demand for European debt*

By Daniel Wagner, AP Business Writer 

Slight improvements in Europe's troubled debt markets and China's economy were enough to lift stocks on Tuesday. The Dow Jones industrial average rose as many as 151 points in the morning before fading to a 60-point gain at the close. 

Debt auctions by Spain, Greece and Europe's bailout fund drew solid interest from investors, easing fears that recent credit-rating downgrades would prevent them from obtaining funds. The downgrades had threatened to increase borrowing costs and intensify the region's debt crisis. 

The Chinese government said earlier that its economy slowed less dramatically in the fourth quarter than analysts had expected. 

There's so much money sitting in short-term accounts and earning zero return that even a shred of good news can jolt the market higher, said David Kelly, chief market strategist with J.P. Morgan Funds. 

"The stock market is cheap, but cash and Treasurys are extremely expensive," Kelly said. "That's why even though people are busy taking money out of stocks and putting it into bond funds, they really should be doing the opposite." 

The Dow rose 60.01 points, or 0.5 percent, to close at 12,482.07. It was the Dow's highest close since July 26, before the European debt crisis set off months of wrenching volatility. The Dow is up 264 points in the first 10 days of the year, the best start to a year since 2003. 

The Standard & Poor's 500 index gained 4.58 points, or 0.4 percent, to 1,293.67. The S&P 500 had risen earlier to 1,303.02; it hasn't traded above 1,300 since Aug. 1. 

The Nasdaq composite index added 17.41 points, or 0.6 percent, to 2,728.08. 

The market was closed Monday for the Martin Luther King Jr. Day holiday. 

Bank stocks were uneven after a mixed batch of earnings reports. Wells Fargo & Co. rose 0.7 percent after strength in its lending business helped it beat Wall Street's fourth-quarter earnings estimates. Citigroup Inc. fell 8.2 percent and M&T Bank Corp. fell 1.6 percent after their earnings fell short of estimates. 

Carnival Corp. plunged 13.7 percent after a cruise ship owned by one of its brands capsized off the coast of Italy, killing 11 passengers. Italian prosecutors are charging the captain with manslaughter, causing a shipwreck and abandoning his ship before all passengers were evacuated. 

Royal Caribbean Cruises Ltd. Co. fell 6.2 percent as analysts predicted ripple effects through the industry. 

Overseas markets rose earlier Tuesday after Spain auctioned off billions in short-term debt at sharply lower interest rates, indicating strong demand for the nation's bonds. Spain's borrowing costs had spiked in recent weeks on fears it would be engulfed by the crisis and default on its debts. 

Standard & Poor's downgraded Spain's credit rating on Friday. The strong auction suggested that investors took the downgrade in stride. 

Greece also auctioned off short-term debt on Tuesday at a lower rate than it had been paying. The fund to bail out Greece and other troubled nations also raised money, despite a downgrade on Monday. 

The bailout fund's credit rating is based on the ratings of the nations that contribute to it. It was downgraded because S&P had cut ratings for most of the nations that use the euro and back the fund. 

Earlier, the Chinese government said its economic growth slowed to 8.9 percent in the fourth quarter. That was the lowest in two and a half years, but still better than the 8.7 percent predicted by analysts. 

Chinese growth must stay strong to keep the global economy moving as Europe tips toward recession, said Brian Levitt, an economist with Oppenheimer Funds. 

"Many emerging markets are more linked via exports to the Chinese market than to the European economy, so China becomes sort of the lynchpin economic activity across much of the world," he said. 

Asian and European markets closed higher. France's CAC 40 rose 1.4 percent, Germany's DAX added 1.8 percent. 

Among the other U.S. companies making big moves Tuesday: 

”” Lions Gate Entertainment Corp. rose 4 percent after it agreed Friday to buy Summit Entertainment, owner of the blockbuster "Twilight" franchise, for $412.5 million in cash and stock. 

”” R. R. Donnelley & Sons Co. lost 15.8 percent, the most in the S&P 500, after the printing company said its 2011 profit margin will be narrower than it had forecast earlier.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks at highest since July after word of stronger housing market and heftier bailout 

A surprisingly strong report on the housing market and the prospect of more cash for the International Monetary Fund to fight off a financial crisis powered stocks Wednesday to their highest close since last summer. 

The Standard & Poor's 500 index closed above 1,300 for the first time since July 28, and the Dow Jones industrial average finished at its highest since July 25. That was just before the bitter fight in Washington over the federal debt limit. 

It was also the first time since Jan. 3, the first trading day of the year, that the S&P 500 moved more than 1 percent. The market has made a quiet ascent since then. The S&P is up 4 percent for the year, the Dow 3 percent. 

"We think things are setting up to be better than last year," said Brad Sorensen, director of market research at Charles Schwab. "The worst-case scenario is off the table." 

The National Association of Home Builders index, a measure of sentiment among builders, rose to its highest level since June 2007 as sales jumped. Analysts said it could be a sign the housing market has bottomed out. 

The index is rising because builders are seeing a rise in people shopping for a home, not because they are seeing more sales, at least not yet. Those in a position to buy are benefiting from lower prices and mortgage rates. 

Stocks of home construction companies jumped. PulteGroup Inc. rose 6 percent, Toll Brothers Inc. rose 5 percent, and KB Home rose 8 percent. 

In another encouraging sign, the Federal Reserve said manufacturing rose 0.9 percent from November to December, the biggest gain since December 2010. 

Christine Lagarde, managing director of the IMF, said the fund wanted to raise $500 billion more to lend to countries. The IMF has put up roughly a third of the rescue loans to debt-hobbled European countries over the past two years. 

Investors are eager for signs that the world can contain Europe's debt problem. Besides an already likely recession in Europe, a messy default by Greece or another country could lead to a financial crisis around the globe.

*The NYSE DOW NYSE DOW closed  HIGHER  +96.88 +0.78%   on Wednesday January 18*
Sym .......Last .......Change.......... 
Dow  12,578.95  +96.88 +0.78% 
Nasdaq  2,769.71  +41.63 +1.53% 
S&P 500  1,308.04  +14.37 +1.11% 
30-yr Bond  2.9500 % +0.0630 

NYSE Volume  4,083,191,000  
Nasdaq Volume  2,026,670,750  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,702.37 +8.42 +0.15%  
DAX 6,354.57 +21.64 +0.34%  
CAC 40 3,264.93 -5.06 -0.15%   

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,280.60  +2.90 +0.07% 
Shanghai Comp  2,266.38   -31.99 -1.39% 
Taiwan Wei...  7,233.69  +12.61 +0.17% 
Nikkei 225  8,550.58  +84.18 +0.99% 
Hang Seng  19,686.92  +59.17 +0.30% 
Straits Times  2,795.40   -20.45 -0.73% 

http://finance.yahoo.com/news/Dow-S-P-500-close-highest-apf-4278921364.html?x=0

*Dow, S&P 500 close at their highest since July

Stocks at highest since July after word of stronger housing market and heftier bailout fund*

By Matthew Craft, AP Business Writer 

NEW YORK (AP) -- A surprisingly strong report on the housing market and the prospect of more cash for the International Monetary Fund to fight off a financial crisis powered stocks Wednesday to their highest close since last summer. 

The Standard & Poor's 500 index closed above 1,300 for the first time since July 28, and the Dow Jones industrial average finished at its highest since July 25. That was just before the bitter fight in Washington over the federal debt limit. 

It was also the first time since Jan. 3, the first trading day of the year, that the S&P 500 moved more than 1 percent. The market has made a quiet ascent since then. The S&P is up 4 percent for the year, the Dow 3 percent. 

"We think things are setting up to be better than last year," said Brad Sorensen, director of market research at Charles Schwab. "The worst-case scenario is off the table." 

The National Association of Home Builders index, a measure of sentiment among builders, rose to its highest level since June 2007 as sales jumped. Analysts said it could be a sign the housing market has bottomed out. 

The index is rising because builders are seeing a rise in people shopping for a home, not because they are seeing more sales, at least not yet. Those in a position to buy are benefiting from lower prices and mortgage rates. 

Stocks of home construction companies jumped. PulteGroup Inc. rose 6 percent, Toll Brothers Inc. rose 5 percent, and KB Home rose 8 percent. 

In another encouraging sign, the Federal Reserve said manufacturing rose 0.9 percent from November to December, the biggest gain since December 2010. 

Christine Lagarde, managing director of the IMF, said the fund wanted to raise $500 billion more to lend to countries. The IMF has put up roughly a third of the rescue loans to debt-hobbled European countries over the past two years. 

Investors are eager for signs that the world can contain Europe's debt problem. Besides an already likely recession in Europe, a messy default by Greece or another country could lead to a financial crisis around the globe. 

In other trading, Goldman Sachs stock added almost 7 percent after its quarterly profit beat Wall Street expectations. Net income still fell 58 percent in the last three months of 2011, a result of choppy financial markets. 

Some bank stocks followed Goldman higher. Morgan Stanley, another investment bank, rose 6.8 percent. Bank of America rose 4.9 percent, JPMorgan Chase 4.7 percent and Citigroup 2.9 percent. 

Other financial stocks sank after disappointing earnings reports. State Street Corp. plunged 6.6 percent, the largest fall in the S&P 500. PNC Financial Services Group Inc. fell 2.6 percent, and Northern Trust Corp. slipped 2 percent. 

The Dow finished up 96.88, or 0.8 percent, at 12,578.95. The S&P rose 14.37, or 1.1 percent, to 1,308.04. The Nasdaq composite index, which has outperformed the other two this year, rose 41.63 points, or 1.5 percent, to 2,769.71. 

Among other stocks making large moves Wednesday: 

”” Yahoo climbed 3 percent on news that co-founder Jerry Yang is leaving the struggling Internet pioneer. The departure clears the way for newly hired CEO Scott Thompson to take more radical action to shake up the company. 

”” Amphenol Corp., which makes fiber-optic cables, soared 11 percent. Its earnings that beat analysts' expectations, and the company said strong orders should push next year's earnings above Wall Street forecasts. 

”” Linear Technology Corp., which makes circuits, jumped 11 percent, most in the S&P 500. It expects quarterly revenue to rise 4 to 8 percent following strong demand in December and January. It also raised its dividend by a penny to 25 cents a share. 

”” Cash America International Inc., a payday lender and operator of pawnshops, sank 6 percent after cutting its earnings forecast.


----------



## bigdog

Source: http://finance.yahoo.com

The Dow's gain for the day amounted to 0.4 percent. The S&P's came to 0.5 percent. The Nasdaq added 18.62 points, or 18.62 points, to close at 2,788.33.

Strong corporate earnings reports and the lowest unemployment claims in almost four years gave investors more reasons Thursday to take risks on stocks, and the market continued its quiet but solid January climb. 

The Dow Jones industrial average gained 45.03 points to close at 12,623.98. The Standard & Poor's 500 index added 6.46 points to close at 1,314.50. Both averages are at their highest since July. 

Volume was slightly above average. The market has been subdued this year: The S&P has moved up or down 1 percent or more only twice, and the Dow has moved 100 points only once, a 179-point gain on opening day, Jan. 3. 

But the gains have been steady. The S&P has closed higher 12 of 14 days, and all three major averages have recorded healthy advances for the young year — 3.3 percent for the Dow, 4.4 percent for the S&P and 7 percent for the Nasdaq composite index. 

Investors appear ready to believe that the economic recovery is for real and getting stronger. 

"The market is screaming loud and clear," said Doug Cote, chief market strategist with ING Investment Management. "Prices have lagged fundamentals, and now they're catching up." 

After the market closed, Google stock plunged more than 10 percent after its earnings per share badly missed Wall Street expectations. Intel and Microsoft rose slightly in after-hours trading after more encouraging reports. 

In a sign of a bigger appetite for risk, investors moved money out of U.S. debt, a haven during the stock market's volatile second half of 2011. The yield on the 10-year U.S. Treasury note increased to 1.98 percent from 1.90 percent Wednesday. 

The market was led by industries that tend to perform best when the economy is getting stronger — consumer discretionary stocks, financials and industrial companies. 

Of the 10 categories of stocks in the S&P 500, the only one that lost considerable ground was utilities — a safe play for investors during turbulent times and the best-performing category last year. 

*The NYSE DOW NYSE DOW closed  HIGHER  +46.24 +0.37%    on Thursday January 19*
Sym .......Last .......Change.......... 
Dow  12,625.19  +46.24 +0.37% 
Nasdaq  2,788.33  +18.62 +0.67% 
S&P 500  1,314.50  +6.46 +0.49% 
30-yr Bond  3.0400 % +0.0850 

NYSE Volume  4,465,896,000  
Nasdaq Volume  2,020,639,125  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,741.15 +38.78 +0.68%  
DAX 6,416.26 +61.69 +0.97%  
CAC 40 3,328.94 +64.01 +1.96%   

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,278.60  -2.00 -0.05% 
Shanghai Comp  2,296.08   +29.69 +1.31% 
Taiwan Wei...  7,233.69  closed
Nikkei 225  8,639.68  +89.10 +1.04% 
Hang Seng  19,942.95  +256.03 +1.30% 
Straits Times   2,811.20   +15.80 +0.57% 

http://finance.yahoo.com/news/stocks-add-steady-climb-dow-213120686.html

*Stocks add to steady climb; Dow gains 45

Dow adds 45 and S&P gains for 12th day in 14 as market continues strong start to 2012*

By Samantha Bomkamp, AP Business Writer 

NEW YORK (AP) -- Strong corporate earnings reports and the lowest unemployment claims in almost four years gave investors more reasons Thursday to take risks on stocks, and the market continued its quiet but solid January climb. 

The Dow Jones industrial average gained 45.03 points to close at 12,623.98. The Standard & Poor's 500 index added 6.46 points to close at 1,314.50. Both averages are at their highest since July. 

Volume was slightly above average. The market has been subdued this year: The S&P has moved up or down 1 percent or more only twice, and the Dow has moved 100 points only once, a 179-point gain on opening day, Jan. 3. 

But the gains have been steady. The S&P has closed higher 12 of 14 days, and all three major averages have recorded healthy advances for the young year — 3.3 percent for the Dow, 4.4 percent for the S&P and 7 percent for the Nasdaq composite index. 

Investors appear ready to believe that the economic recovery is for real and getting stronger. 

"The market is screaming loud and clear," said Doug Cote, chief market strategist with ING Investment Management. "Prices have lagged fundamentals, and now they're catching up." 

After the market closed, Google stock plunged more than 10 percent after its earnings per share badly missed Wall Street expectations. Intel and Microsoft rose slightly in after-hours trading after more encouraging reports. 

In a sign of a bigger appetite for risk, investors moved money out of U.S. debt, a haven during the stock market's volatile second half of 2011. The yield on the 10-year U.S. Treasury note increased to 1.98 percent from 1.90 percent Wednesday. 

The market was led by industries that tend to perform best when the economy is getting stronger — consumer discretionary stocks, financials and industrial companies. 

Of the 10 categories of stocks in the S&P 500, the only one that lost considerable ground was utilities — a safe play for investors during turbulent times and the best-performing category last year. 

Cote said the market's gains could accelerate as investors begin to focus more on economic fundamentals in the United States instead of worries about their exposure to risk. 

And the economic news Thursday was good: The number of people seeking unemployment benefits plummeted last week to 352,000, the fewest since April 2008. The decline added to evidence that the job market is strengthening. 

U.S. consumer prices were unchanged last month, a signal inflation is under control. In the housing market, a third straight increase in single-family home building in December was offset by a drop in apartment construction. 

France and Spain also held successful bond auctions, easing concerns about the debt crisis in Europe. As global risk factors subside, Cote predicts that markets will see "a strong snap-back rally." 

Bank of America rose 2 percent and Morgan Stanley rose 5 percent after reporting encouraging financial results. Bank of America returned to a profit in the last three months of 2011, while Morgan Stanley's loss was much less than forecast. 

Renewable Energy Group Inc., the nation's largest producer of biodiesel, edged up 10 cents to $10.10 on its first day of trading. It was the first initial public offering of stock this year. 

Trading was halted in shares of Eastman Kodak, the iconic photography company, after it filed for Chapter 11 bankruptcy protection. Kodak could not find a buyer for its trove of 1,100 digital imaging patents. 

The Dow's gain for the day amounted to 0.4 percent. The S&P's came to 0.5 percent. The Nasdaq added 18.62 points, or 18.62 points, to close at 2,788.33. 

Among other stocks in the news: 

— eBay Inc., the online auction company, rose 3.9 percent after it beat Wall Street earnings forecasts and gave a healthy outlook for the year. 

— Southwest Airlines Co. rose 3.1 percent after it said its fourth-quarter net income and revenue jumped. Southwest said it expects strong revenue in the first quarter too, based on passenger-booking trends. 

— Johnson Controls Inc., an auto parts and building equipment maker based in Milwaukee, fell 8.8 percent. Its profit and revenue fell short of Wall Street forecasts. It also cut its forecasts, blaming weaker auto production in Europe, a lower euro and poor demand for batteries.


----------



## bigdog

Source: http://finance.yahoo.com

IBM and Microsoft drove the Dow Jones industrial average higher Friday after the tech giants reported stronger earnings than analysts expected. 

Microsoft said sales of Xbox games and Office software helped push revenue up in the last quarter of 2011. IBM credited better sales of software and services and raised its earnings outlook for the year. Microsoft rose 6 percent and IBM rose 4 percent. 

The Dow rose 96.50 points to close at 12,720.48. That's a gain of 0.8 percent. Without the huge gains in IBM and Microsoft, the Dow would have risen just 24 points. 

The S&P 500 index inched up 0.88 to 1,315.38. Both the Dow and S&P ended the week with gains of more than 2 percent. 

Plenty of things are going right, said Frank Fantozzi, CEO of Planned Financial Services, an independent wealth manager in Cleveland. Applications for unemployment benefits dropped last week to the lowest level in nearly four years. Housing sales are steadily rising. And most companies are reporting better profits. 

"Overall, we're moving in the right direction and it's bolstered the market," Fantozzi said. "The S&P getting over 1,300 this week is a nice sign." 

Google lost 8.4 percent after its earnings per share fell a dollar short of analysts' estimates. The misfire stemmed from an 8 percent drop in prices that the Internet search giant charges advertisers for each click. 

Google's drop tugged the Nasdaq composite index lower. It fell 1.63 points to 2,786.70.

*The NYSE DOW NYSE DOW closed  HIGHER +96.50 +0.76% on Friday January 20*
Sym .......Last .......Change.......... 
Dow  12,720.48  +96.50 +0.76% 
Nasdaq  2,786.70  -1.63 -0.06% 
S&P 500  1,315.38  +0.88 +0.07% 
30-yr Bond  3.1000 % +0.0620 

NYSE Volume  3,956,980,500  
Nasdaq Volume  1,985,132,000  

*Europe*
Symbol... ......Last .....Change.......
 FTSE 100 5,728.55 -12.60 -0.22%  
DAX 6,404.39 -11.87 -0.18%  
CAC 40 3,321.50 -7.44 -0.22% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,303.00  +24.40 +0.57% 
Shanghai Comp  2,319.12 +23.04 +1.00% 
Taiwan Wei...  7,233.69  closed 
Nikkei 225  8,766.36  +126.68 +1.47% 
Hang Seng  20,110.37  +167.42 +0.84% 
Straits Times 2,849.38 +38.18 +1.36%  

http://finance.yahoo.com/news/Microsoft-IBM-push-Dow-Google-apf-2670645496.html?x=0

*Microsoft and IBM push Dow up, Google falls

Tech earnings drive Dow up, while Google takes a plunge; Stock indexes end the week higher*

By Matthew Craft, AP Business Writer 

NEW YORK (AP) -- IBM and Microsoft drove the Dow Jones industrial average higher Friday after the tech giants reported stronger earnings than analysts expected. 

Microsoft said sales of Xbox games and Office software helped push revenue up in the last quarter of 2011. IBM credited better sales of software and services and raised its earnings outlook for the year. Microsoft rose 6 percent and IBM rose 4 percent. 

The Dow rose 96.50 points to close at 12,720.48. That's a gain of 0.8 percent. Without the huge gains in IBM and Microsoft, the Dow would have risen just 24 points. 

The S&P 500 index inched up 0.88 to 1,315.38. Both the Dow and S&P ended the week with gains of more than 2 percent. 

Plenty of things are going right, said Frank Fantozzi, CEO of Planned Financial Services, an independent wealth manager in Cleveland. Applications for unemployment benefits dropped last week to the lowest level in nearly four years. Housing sales are steadily rising. And most companies are reporting better profits. 

"Overall, we're moving in the right direction and it's bolstered the market," Fantozzi said. "The S&P getting over 1,300 this week is a nice sign." 

Google lost 8.4 percent after its earnings per share fell a dollar short of analysts' estimates. The misfire stemmed from an 8 percent drop in prices that the Internet search giant charges advertisers for each click. 

Google's drop tugged the Nasdaq composite index lower. It fell 1.63 points to 2,786.70. 

Even though high-profile companies such as Google and JPMorgan Chase have posted disappointing earnings results in the past week, the trend is moving in the opposite direction. Of the 60 companies in the S&P index that have reported earnings so far, 62 percent have beaten estimates, according to John Butters, senior earnings analyst at FactSet Research. 

In another sign that traders were becoming more willing to take on risk, the yield on the 10-year Treasury note crossed above 2 percent for the first time in two weeks. The yield, a widely used benchmark for corporate and consumer borrowing, had inched lower since early December as traders parked money in the safest of assets. 

The National Association of Realtors said that home sales rose 5 percent in December, the third straight monthly increase. 

Among other companies in the news: 

— Capital One Financial lost 5.6 percent. The bank and credit-card company's earnings sank 41 percent as expenses for marketing, salaries and legal fees jumped compared with the year before. 

— Schlumberger rose 1.3 percent. The oil-field services company's quarterly profit surged 36 percent, helped by exploration work in the Middle East and Africa. The company also raised its quarterly dividend to 27.5 cents. 

- Intel rose 2.9 percent. The world's largest chip maker reported stronger profits after the market closed Thursday. Intel's results got a boost from sales to China and other developing countries, where many people are buying PCs for the first time. 

Stocks have been on a slow and steady climb to start 2012. The S&P 500 has closed higher on 11 of 13 days and is now up 4.6 percent for the year.

5323


----------



## bigdog

Source: http://finance.yahoo.com

 The S&P 500 index eked out a tiny gain Monday while traders kept an eye on talks in Europe to cut Greece's crushing debt load and prevent a global financial crisis. Other indexes ended slightly lower. 

The S&P added 0.62 of a point to close at 1,316 on Monday. The broad market measure has now closed higher on 12 of 14 days this year. 

European stocks and the euro rose after the continent's finance ministers put pressure on banks that hold Greek government bonds to accept new ones that are worth half as much and carry a lower interest rate. 

The Greek stock market gained 5 percent, and indexes in Germany, France, Spain and Britain all advanced less than 1 percent. The euro rose more than a penny to $1.302, close to its highest level against the dollar this year. 

Negotiators are trying to prevent a disorderly default by Greece in March. The worst-case scenarios include a credit crisis similar to what happened after the Lehman Brothers investment bank fell in 2008. 

The Dow Jones industrial average fell 11.66 points to 12,708.82. That's a loss of 0.1 percent. 

The Nasdaq composite index fell 2.53 points, or 0.1 percent, to 2,784.17. 

Stocks are still off to a strong start in 2012. Investors' biggest fears have slowly faded. Stronger than expected job growth in the U.S. and falling borrowing costs for European governments have helped send the S&P 500 index up 4.6 percent for the year.

*The NYSE DOW  closed  LOWER   -11.66 -0.09%           on Monday January 23*
Sym .......Last .......Change.......... 
Dow  12,708.82  -11.66 -0.09% 
Nasdaq  2,784.17  -2.53 -0.09% 
S&P 500  1,316.00  +0.62 +0.05% 
30-yr Bond  3.1500 % +0.0450 

NYSE Volume  3,770,907,750  
Nasdaq Volume  1,700,273,000  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100  5,782.56  +54.01 +0.94%
DAX 6,436.62 +32.23 +0.50%  
CAC 40 3,338.42 +16.92 +0.51%

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,287.60  -15.40 -0.36% 
Shanghai Comp  2,319.12   closed 
Taiwan Wei...  7,233.69  closed  
Nikkei 225  8,765.90  -0.46 -0.01% 
Hang Seng  20,110.37   closed 
Straits Times  2,849.38 closed  

http://finance.yahoo.com/news/stocks-end-mixed-greece-negotiates-211707091.html

*Stocks end mixed as Greece negotiates to cut debt

US stocks swing between gains and losses as investors await resolution of Greek debt talks*

NEW YORK (AP) -- The S&P 500 index eked out a tiny gain Monday while traders kept an eye on talks in Europe to cut Greece's crushing debt load and prevent a global financial crisis. Other indexes ended slightly lower. 

The S&P added 0.62 of a point to close at 1,316 on Monday. The broad market measure has now closed higher on 12 of 14 days this year. 

European stocks and the euro rose after the continent's finance ministers put pressure on banks that hold Greek government bonds to accept new ones that are worth half as much and carry a lower interest rate. 

The Greek stock market gained 5 percent, and indexes in Germany, France, Spain and Britain all advanced less than 1 percent. The euro rose more than a penny to $1.302, close to its highest level against the dollar this year. 

Negotiators are trying to prevent a disorderly default by Greece in March. The worst-case scenarios include a credit crisis similar to what happened after the Lehman Brothers investment bank fell in 2008. 

The Dow Jones industrial average fell 11.66 points to 12,708.82. That's a loss of 0.1 percent. 

The Nasdaq composite index fell 2.53 points, or 0.1 percent, to 2,784.17. 

Stocks are still off to a strong start in 2012. Investors' biggest fears have slowly faded. Stronger than expected job growth in the U.S. and falling borrowing costs for European governments have helped send the S&P 500 index up 4.6 percent for the year. 

Maybe the biggest boon to markets this year is the lack of scary headlines, said Jeff Lancaster, a principal at the investment firm Bingham, Osborn & Scarborough. 

"When everybody is feeling distressed, anxious and worried as they were at the end of last year, it doesn't take a lot of good news for the mood to change," he said. "It just takes a diminishing quantity of bad news." 

Many energy stocks jumped along with prices for natural gas and crude oil. Chesapeake Energy Corp., the No. 2 producer of natural gas in the United States, gained 6 percent after it said it plans to cut production, a response to the recent slump in natural gas prices. 

Natural gas futures rose 7.9 percent to $2.60 per 1,000 cubic feet. Gas futures were trading above $4 just six months ago. 

Stocks of other gas producers shot higher. Southwestern Energy Co. jumped 10 percent, the biggest gain in the S&P 500. Cabot Oil & Gas Corp. was close behind, rising 6.5 percent. 

Apache Corp., a producer of oil and gas, rose 1.6 percent after saying said it plans to buy Cordillera Energy Partners in a $2.85 billion deal. It's the largest merger announced in the U.S. this year. 

The price of oil rose 1.3 percent to $99.58 per barrel. The European Union tightened sanctions against Iran by banning the purchase of Iranian oil. Iran threatened to block shipping through the Strait of Hormuz, the passageway for one-sixth of the world's oil exports. 

Research In Motion Ltd., maker of the BlackBerry, sank 8.5 percent after its new chief executive said no drastic changes are needed. The company's founders announced they were stepping down as co-CEOs late Sunday.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks fell Tuesday on concerns that a deal to prevent a default by Greece might fall through. 

A slew of U.S. corporate earnings Tuesday also did little to bolster investors' confidence. 

The Dow Jones industrial average closed down 33 points at 12,676. It has risen or fallen less than 100 points in 13 trading sessions, the longest calm stretch since March and April of last year. 

The Standard & Poor's 500 lost a point to close at 1,315. It's only the third time the S&P has ended lower this year ”” all those declines have been less than 7 points. So far this year, it's up about 4.5 percent. 

The Nasdaq added 2 points Tuesday to close at 2,787 after a day of wavering between small gains and losses. Tech stocks could be in for a strong day Wednesday after Apple Inc. reported sharply higher earnings after the market closed Tuesday, trouncing analysts' estimates. 

Rising stocks slightly outnumbered falling ones on the New York Stock Exchange. Trading volume was lighter than average at 3.7 billion shares. 

Treasury prices rose Tuesday from their lowest levels this year on uncertainty about whether Greece will reach a deal with its creditors. That drew money back into safer investments. 

In Europe, Greece's stock market index fell 5.5 percent. Stocks fell less than 1 percent in Germany, France and Spain and ended slightly higher in Italy. 

A deal between the Greek government and the banks that hold Greek national bonds is considered crucial to the stability of the European financial system. Investors fear that if Greece can't pay its debt, it could trigger a panic. 

"There's a lot of apprehension about the unknowns," said Brian Gendreau, market strategist for El Segundo, Calif.-based Cetera Financial Group. "It's not what people think they know about Europe. It's what they worry they don't know." 

Greece is trying to get its creditors to swap Greek government bonds for new ones that have half the face value. But agreeing on a new interest rate has been a stumbling block. Greece faces an important bond repayment deadline in March. 

*The NYSE DOW closed   LOWER    -33.07 -0.26%       on Tuesday January 24*
Sym .......Last .......Change.......... 
Dow  12,675.75  -33.07 -0.26% 
Nasdaq  2,786.64  +2.47 +0.09% 
S&P 500  1,314.65  -1.35 -0.10% 
30-yr Bond  3.1600 % +0.0110 

NYSE Volume  3,693,557,500  
Nasdaq Volume  1,680,270,125  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,751.90 -30.66 -0.53% 
DAX 6,419.22 -17.40 -0.27% 
CAC 40 3,322.65 -15.77 -0.47%

*Asia Pacific*
Symbol...... .....Last ....Change.......
Asx all ord  4,286.40  -1.20 -0.03% 
Shanghao comp  2,319.12  closed  
Taiwan Wei...  7,233.69  closed  
Nikkei 225  8,785.33  +19.43 +0.22% 
Hang Seng  20,110.37   closed 
Straits Times   2,849.38 closed  

http://finance.yahoo.com/news/stocks-end-lower-greek-talks-211447372.html

*Stocks end lower on Greek talks worries, earnings

Dow, S&P end lower as investors worry about uncertain Greece debt deal, US corporate earnings*

By Samantha Bomkamp, AP Business Writer 

NEW YORK (AP) -- Stocks fell Tuesday on concerns that a deal to prevent a default by Greece might fall through. 

A slew of U.S. corporate earnings Tuesday also did little to bolster investors' confidence. 

The Dow Jones industrial average closed down 33 points at 12,676. It has risen or fallen less than 100 points in 13 trading sessions, the longest calm stretch since March and April of last year. 

The Standard & Poor's 500 lost a point to close at 1,315. It's only the third time the S&P has ended lower this year ”” all those declines have been less than 7 points. So far this year, it's up about 4.5 percent. 

The Nasdaq added 2 points Tuesday to close at 2,787 after a day of wavering between small gains and losses. Tech stocks could be in for a strong day Wednesday after Apple Inc. reported sharply higher earnings after the market closed Tuesday, trouncing analysts' estimates. 

Rising stocks slightly outnumbered falling ones on the New York Stock Exchange. Trading volume was lighter than average at 3.7 billion shares. 

Treasury prices rose Tuesday from their lowest levels this year on uncertainty about whether Greece will reach a deal with its creditors. That drew money back into safer investments. 

In Europe, Greece's stock market index fell 5.5 percent. Stocks fell less than 1 percent in Germany, France and Spain and ended slightly higher in Italy. 

A deal between the Greek government and the banks that hold Greek national bonds is considered crucial to the stability of the European financial system. Investors fear that if Greece can't pay its debt, it could trigger a panic. 

"There's a lot of apprehension about the unknowns," said Brian Gendreau, market strategist for El Segundo, Calif.-based Cetera Financial Group. "It's not what people think they know about Europe. It's what they worry they don't know." 

Greece is trying to get its creditors to swap Greek government bonds for new ones that have half the face value. But agreeing on a new interest rate has been a stumbling block. Greece faces an important bond repayment deadline in March. 

In U.S. news, a number of lower-than-expected earnings also added to investors' concerns. 

Kimberly-Clark Corp., which makes Kleenex tissues, Huggies diapers and a number of other household goods, said rising costs pushed its net income down 19 percent in the fourth quarter. The stock fell 1.5 percent. 

Chemical maker DuPont Co. said its fourth-quarter net income dipped as lower sales and higher costs overshadowed higher prices. The results still beat analysts' expectations and the stock was flat. 

Coal producer Peabody Energy Corp. fell 2 percent after its forecast for the first quarter fell well short of expectations. The stock fell 4 percent. 

Leading the pack of companies trading higher after reporting earnings, bag and accessories maker Coach Inc. gained 5.8 percent after quarterly net income rose almost 15 percent because of stronger holiday sales. 

Among other stocks making large moves: 

”” Zions Bancorporation fell 7.5 percent, the most of any stock in the S&P 500, after the Salt Lake City bank reported income that fell far short of Wall Street's expectations. At least one analyst downgraded the stock. 

”” Hard disk drive maker Western Digital Corp. was one of the top gainers in the S&P after reporting that its results handily beat Wall Street's expectations. The stock jumped 6.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com

The stock market bounced to its highest close since last spring Wednesday after the Federal Reserve pledged to keep interest rates near zero for almost three more years. 

Bond yields dropped sharply, then climbed back later in the day when investors began looking more closely into the Fed's deliberations. The yield on the five-year Treasury note touched an all-time low. 

The big moves in both markets came at 12:30 p.m. EST, when the Fed's monetary policy committee said it was unlikely to raise interest rates before late 2014. It had previously promised to keep rates low into the middle of 2013. 

The Fed cut rates to near zero in December 2008, during the financial crisis, and has held them there ever since. The announcement was a sign that the Fed expects the economy, which is improving, to need significant help for three more years. 

The Dow Jones industrial average was down as much as 95 points in the morning and about 60 points before the Fed announcement. It shot to a gain of 103 points during the afternoon. 

The Dow closed up 83.10 points, or 0.7 percent, at 12,758.85. That's the highest close since May. The Dow peaked for last year in April at 12,810. Before that, it had not been so high since May 2008. 

In the bond market, the yield on the 10-year Treasury note was at 2.05 percent an hour before the announcement and quickly fell to 1.92, a significant move. It rose to 1.99 percent two hours later. 

The bounce-back happened at about 2 p.m., when the Fed released details of how the committee voted. Six of its 17 members had favored an interest rate increase this year or next — well before late 2014 in either case. 

The yield on the five-year Treasury note hit 0.76 percent, an all-time low. Bond yields fall when their prices rise. 

The Fed's extension of low rates signaled that it expects inflation to stay low. Low inflation makes Treasurys more attractive by helping to maintain the value of bond owners' fixed returns. Rising prices would eat into those returns. 


*The NYSE DOW closed  HIGHER  +81.21 +0.64%    on Wednesday January 25*
Sym .......Last .......Change.......... 
Dow  12,756.96  +81.21 +0.64% 
Nasdaq  2,818.31  +31.67 +1.14% 
S&P 500  1,326.06  +11.41 +0.87% 
30-yr Bond  3.1500 % -0.0080 

NYSE Volume  4,457,060,500  
Nasdaq Volume  1,970,176,375  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,723.00 -28.90 -0.50% 
DAX 6,421.85 +2.63 +0.04% 
CAC 40 3,312.48 -10.17 -0.31% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,329.10  +42.70 +1.00% 
Shanghai Comp  2,319.12 closed  
Taiwan Wei...  7,233.69  0.00 closed 
Nikkei 225  8,883.69  +98.36 +1.12% 
Hang Seng  20,110.37  closed   
Straits Times 2,891.64   +42.26 +1.48% 

http://finance.yahoo.com/news/stocks-close-higher-fed-promise-210539332.html

*Stocks close higher on Fed promise of low rates

Stocks erase losses and bond yields fall after Fed says it will keep rates low into 2014*

By Daniel Wagner, AP Business Writer

The stock market bounced to its highest close since last spring Wednesday after the Federal Reserve pledged to keep interest rates near zero for almost three more years. 

Bond yields dropped sharply, then climbed back later in the day when investors began looking more closely into the Fed's deliberations. The yield on the five-year Treasury note touched an all-time low. 

The big moves in both markets came at 12:30 p.m. EST, when the Fed's monetary policy committee said it was unlikely to raise interest rates before late 2014. It had previously promised to keep rates low into the middle of 2013. 

The Fed cut rates to near zero in December 2008, during the financial crisis, and has held them there ever since. The announcement was a sign that the Fed expects the economy, which is improving, to need significant help for three more years. 

The Dow Jones industrial average was down as much as 95 points in the morning and about 60 points before the Fed announcement. It shot to a gain of 103 points during the afternoon. 

The Dow closed up 83.10 points, or 0.7 percent, at 12,758.85. That's the highest close since May. The Dow peaked for last year in April at 12,810. Before that, it had not been so high since May 2008. 

In the bond market, the yield on the 10-year Treasury note was at 2.05 percent an hour before the announcement and quickly fell to 1.92, a significant move. It rose to 1.99 percent two hours later. 

The bounce-back happened at about 2 p.m., when the Fed released details of how the committee voted. Six of its 17 members had favored an interest rate increase this year or next — well before late 2014 in either case. 

The yield on the five-year Treasury note hit 0.76 percent, an all-time low. Bond yields fall when their prices rise. 

The Fed's extension of low rates signaled that it expects inflation to stay low. Low inflation makes Treasurys more attractive by helping to maintain the value of bond owners' fixed returns. Rising prices would eat into those returns. 

The announcement guaranteed that short-term loans will remain cheap, making it easier for investors to finance longer-term purchases, such as 10- and 30-year Treasurys, said John Canally, investment strategist and economist for LPL Financial. 

Monetary decisions by the Fed can change the market's momentum in the short term but rarely have a longer-term impact, Canally warned. 

The market changed directions after 22 of the past 24 Fed policy announcements, he said, yet the change evaporates quickly. The market essentially has an equal chance of rising or falling in the five days after Fed meetings, he said. 

"It's a coin flip, really," Canally said. 

Keeping rates ultra-low for a longer period increases the likelihood that the Fed will engage in more bond-buying programs to help the economy, a policy known as quantitative easing, said Anthony Chan, chief economist with JPMorgan Private Wealth Management. Those tend to boost bond prices by increasing the overall demand in the market. 

Chan called the Fed's move insurance against the European debt crisis and a recession across the Atlantic Ocean. Stock buyers, he said, were happy about the prospect of low inflation and a Fed leaning toward promoting economic growth. 

The promise of lower rates pushed the dollar lower against other major currencies. Low interest rates make the dollar less attractive because they reduce the returns traders get on U.S. debt and other bonds priced in dollars. 

Markets had opened mostly lower on fears about Greece's slow progress in talks with bondholders aimed at reducing that nation's crushing debt load. 

Technology stocks rose all morning, bucking the wider market, after Apple reported its best quarter and blew away analyst estimates because of strong holiday sales of the iPhone and iPad. 

Apple once again passed Exxon Mobil as the company with the biggest market value. Wall Street was watching the results closely because they were for the company's first quarter since the death of founder Steve Jobs. 

Apple stock jumped 6.3 percent, helping lift the Nasdaq composite index by 31.67 points, or 1.1 percent, to close at 2,818.31. The Nasdaq is up 8.2 percent this year, nearly twice the gain for the Dow Jones industrial average. 

Netflix Inc., the DVD-by-mail and video streaming provider, jumped 13 percent in after-hours trading after reporting earnings that far exceeded Wall Street's expectations. 

The Standard & Poor's 500 index rose 11.41 points, or 0.9 percent, to 1,326.06. The S&P is up 5.4 percent for the year and more than 14 percent from its Nov. 25 low. 

As fears recede about Europe, big-time investors such as hedge funds will be drawn back into the market, fueling more gains, said Joe Bell, senior Equity Strategist at Schaeffer's Investment Research. 

After such a strong rally, there might be a slight decline, but "overall we're bullish," Bell said. 

European markets mostly closed lower. Greece wants the investors, mostly banks and hedge funds, to voluntarily write off about half their debt. Otherwise, Greece will be unable to obtain bailout cash and won't be able to pay its bills. That could set off a financial crisis similar to what happened when Lehman Brothers investment bank failed in 2008. 

Adding to the gloom was a report that Britain's economy shrank by 0.2 percent in the fourth quarter. 

Among the other companies making big moves after announcing earnings: 

— US Airways Group Inc. jumped 17.3 percent and Delta Air Lines Inc. rose 6.2 percent. Both airlines reported profits far better than Wall Street analysts expected. The airlines raised fares during the fourth quarter while keeping costs under control. Delta also cut the number of flights it makes to keep pace with demand. 

— WellPoint Inc., the nation's largest health insurance company based on enrollment, fell 4.8 percent. Its quarterly profit dropped 39 percent, far more than analysts had expected. Its full-year forecast also fell short of forecasts. Medical claims, its largest expense, rose nearly 10 percent in the quarter. 

— Guidewire Software Inc. soared 37 percent on its first day of trading. The company, which makes software for the insurance industry, rose to $17.80 after selling initially at $13. The 11-year-old company raised $115 million in its debut — or about $27 million less than the profit Apple turned in an average day last quarter.


----------



## bigdog

Source: http://finance.yahoo.com

 A brief morning rally pushed the Dow Jones industrial average above its highest closing price since the financial crisis Thursday, but stocks closed lower after mixed economic data tempered traders' optimism. 

Solid news on factory orders and strong earnings from U.S. manufacturers highlighted one of the economy's bright spots before the market opened. The Dow and broader indexes turned negative after weaker reports on home sales and future economic growth were released in the late morning. 

The Dow and other indexes are still up sharply for the year, and the Dow is near its highest level since May 2008. Traders appear less afraid of spillover damage from the European debt crisis, and data on jobs and manufacturing have been consistently strong. 

"With global risk off center stage and attention going back to the fundamentals, this market was ready to explode, which is exactly what it is doing," said Doug Cote, chief market strategist with ING Investment Management. 

The government reported early Thursday orders to factories for long-lasting manufactured goods increased in December for the second straight month, and a key measure of business investment rose solidly. 

That strong demand was apparent in quarterly earnings reports from U.S. manufacturers. 3M stock closed 1.3 percent higher after its fourth-quarter profit beat Wall Street's estimates. 

Caterpillar, the world's biggest heavy equipment maker, rose 2.1 percent, the most of the 30 companies in the Dow, after beating analysts' estimates last quarter. The company expects to do the same this year as global demand remains high. 

Stocks traded broadly higher until mid-morning, when the government reported an unexpected drop in new home sales in December, capping the worst year for home sales on records dating to 1963. The decline underscored the housing market's continued drag on the economy. 

A private gauge of future economic activity also grew more slowly than expected. 

The Dow closed down 22.33 points, or 0.2 percent, at 12,734.63. It had traded up as much as 84.99 points early Thursday. 3M and Caterpillar led the gains. 

AT&T dragged the Dow lower, falling 2.5 percent after its earnings missed Wall Street's forecasts. The company remains heavily dependent on Apple's iPhone, which it pays to subsidize, but recently lost its exclusive rights to sell the phone in the U.S. 

The Dow is within reach of its post-financial crisis high of 12,810.54, reached in April 2011. The last time it closed higher than that was on May 20, 2008, when it settled at 12,828.68. The Dow's post-crisis high during the trading day was 12,928.45, reached on May 2, 2011. 

The Dow is up 4.2 percent so far this year. The Standard & Poor's 500 index and Nasdaq composite average have gained even more. 

The Dow would need to rise another 11 percent to get to its record high close of 14,164.53, reached on Oct. 9, 2007.

*The NYSE DOW closed   LOWER   -22.33 -0.18%         on Thursday January 26*
Sym .......Last .......Change.......... 
Dow  12,734.63  -22.33 -0.18% 
Nasdaq  2,805.28  -13.03 -0.46% 
S&P 500  1,318.43  -7.62 -0.57% 
30-yr Bond  3.0900 % -0.0590 

NYSE Volume  4,683,370,500  
Nasdaq Volume  2,096,895,875  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,793.10 +70.10 +1.22% 
DAX 6,539.85 +118.00 +1.84% 
CAC 40 3,322.65 -15.77 -0.47%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,329.10  closed  
Shanghai Comp   2,319.12  closed  
Taiwan Wei...  7,233.69  closed 
Nikkei 225  8,849.47  -34.22 -0.39% 
Hang Seng  20,439.14  +328.77 +1.63% 
Straits Times  2,894.43   +2.79 +0.10% 

http://finance.yahoo.com/news/stocks-close-lower-dow-near-210950863.html

*Stocks close lower; Dow near post-crisis peak

Stocks fall after mixed economic reports; Dow neared a post-crisis peak before rally faded*

By Daniel Wagner, AP Business Writer 

A brief morning rally pushed the Dow Jones industrial average above its highest closing price since the financial crisis Thursday, but stocks closed lower after mixed economic data tempered traders' optimism. 

Solid news on factory orders and strong earnings from U.S. manufacturers highlighted one of the economy's bright spots before the market opened. The Dow and broader indexes turned negative after weaker reports on home sales and future economic growth were released in the late morning. 

The Dow and other indexes are still up sharply for the year, and the Dow is near its highest level since May 2008. Traders appear less afraid of spillover damage from the European debt crisis, and data on jobs and manufacturing have been consistently strong. 

"With global risk off center stage and attention going back to the fundamentals, this market was ready to explode, which is exactly what it is doing," said Doug Cote, chief market strategist with ING Investment Management. 

The government reported early Thursday orders to factories for long-lasting manufactured goods increased in December for the second straight month, and a key measure of business investment rose solidly. 

That strong demand was apparent in quarterly earnings reports from U.S. manufacturers. 3M stock closed 1.3 percent higher after its fourth-quarter profit beat Wall Street's estimates. 

Caterpillar, the world's biggest heavy equipment maker, rose 2.1 percent, the most of the 30 companies in the Dow, after beating analysts' estimates last quarter. The company expects to do the same this year as global demand remains high. 

Stocks traded broadly higher until mid-morning, when the government reported an unexpected drop in new home sales in December, capping the worst year for home sales on records dating to 1963. The decline underscored the housing market's continued drag on the economy. 

A private gauge of future economic activity also grew more slowly than expected. 

The Dow closed down 22.33 points, or 0.2 percent, at 12,734.63. It had traded up as much as 84.99 points early Thursday. 3M and Caterpillar led the gains. 

AT&T dragged the Dow lower, falling 2.5 percent after its earnings missed Wall Street's forecasts. The company remains heavily dependent on Apple's iPhone, which it pays to subsidize, but recently lost its exclusive rights to sell the phone in the U.S. 

The Dow is within reach of its post-financial crisis high of 12,810.54, reached in April 2011. The last time it closed higher than that was on May 20, 2008, when it settled at 12,828.68. The Dow's post-crisis high during the trading day was 12,928.45, reached on May 2, 2011. 

The Dow is up 4.2 percent so far this year. The Standard & Poor's 500 index and Nasdaq composite average have gained even more. 

The Dow would need to rise another 11 percent to get to its record high close of 14,164.53, reached on Oct. 9, 2007. 

The S&P 500 closed down 7.63 points, or 0.6 percent, at 1,318.43. It was dragged lower by volatile financial companies and telecommunications firms including AT&T. The Nasdaq shed 13.03 points, or 0.5 percent, to close at 2,805.28. 

Stocks had their highest close in eight months Wednesday after the Federal Reserve said it plans to keep interest rates extremely low until late 2014 to encourage lending and investment and support the economic recovery. 

The yield on the 10-year Treasury note fell to 1.93 percent from 1.99 percent late Wednesday. The prospect of more bond-buying by the Fed helped make Treasurys more attractive. A bond's yield falls as demand for it increases. 

Among the other U.S. companies making big moves after reporting quarterly earnings: 

”” Time Warner Cable Inc. rose 7.8 percent after the company reported earnings that were far above analysts' estimates. The national cable TV provider also raised its dividend 17 percent to 56 cents per share and announced plans to buy back more of its own stock. 

”” United Continental Holdings, the parent company of United and Continental airlines, surged 6.3 percent. The company's fourth-quarter loss narrowed, its adjusted earnings were more than double what analysts had expected and the cost of integrating the two companies fell. 

”” Netflix soared 22.1 percent, the most of any stock in the S&P 500, after the video streaming and DVD-by-mail company reported a huge gain in customers and a bigger fourth-quarter profit than analysts had expected. 

”” Colgate-Palmolive rose 1.9 percent after saying it will raise prices in the U.S. for the first time in years to cover higher costs for materials. The company's profit declined last quarter, but core sales in emerging markets were much stronger.


----------



## bigdog

Source: http://finance.yahoo.com

The stock market closed mostly lower Friday, sending the Dow Jones industrial average to its first losing week of 2012, after the government reported that economic growth was slower at the end of last year than economists expected. 

The Dow spent the whole day in the red. It ended down 74 points, or 0.6 percent, at 12,660.46. The loss snapped a three-week winning streak for the Dow, which fell 60 points for the week but is still up 3.6 percent for the year. 

The Standard & Poor's 500 struggled above even with an hour to go in trading, but it lost the gains and finished down 2.10 points at 1,316.33. The S&P finished the week up a sliver — 0.95 points. 

The Nasdaq composite, which has more than doubled the Dow's gain for the year, edged up 11.27 to 2,816.55. It rose about 30 points this week. 

Economic growth for October through December came in at an annual rate of 2.8 percent. That was the fastest of 2011 but lower than the 3 percent that economists were looking for. 

Utility companies led the way down with a fall of 1.3 percent. Most of the other nine industries in the S&P also fell, but only slightly, continuing a curious trading pattern this year: Trading has been calm in the past four weeks, a big change from the violent moves up and down that marked much of 2011. 

Friday was the 17th day in a row of moves of less than 100 points up or down for the Dow. The last time the index had a longer period of such small moves was a 34-day stretch that started Dec. 3, 2010. 

Despite the drift lower, investors displayed some bullishness. 

*The NYSE DOW closed  LOWER   -74.17 -0.58%         on Friday January 27*
Sym .......Last .......Change.......... 
Dow  12,660.46  -74.17 -0.58% 
Nasdaq  2,816.55  +11.27 +0.40% 
S&P 500  1,316.33  -2.10 -0.16% 
30-yr Bond  3.0600 % -0.0260 

NYSE Volume  4,007,382,250  
Nasdaq Volume  1,794,883,250  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,733.45 61.75 -1.07%  
DAX 6,511.98 -27.87 -0.43%  
CAC 40 3,318.76 -44.47 -1.32% 

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,348.50  +19.40 +0.45% 
Shanghai Comp  2,319.12 closed 
Taiwan Wei...  7,233.69  closed
Nikkei 225  8,841.22  -8.25 -0.09% 
Hang Seng  20,501.67  +62.53 +0.31% 
Straits Times 2,916.26 +21.83 +0.75% 

http://finance.yahoo.com/news/dow-s...Q5MzUtMTFlMS1iZjY2LTBhMjEzZTgyN2U4Yg--;_ylv=3

*Dow slips to first losing week of 2012

Stocks slip after US economic growth comes in below expectations; first down week of 2012*

By Bernard Condon, AP Business Writer 

NEW YORK (AP) -- The stock market closed mostly lower Friday, sending the Dow Jones industrial average to its first losing week of 2012, after the government reported that economic growth was slower at the end of last year than economists expected. 

The Dow spent the whole day in the red. It ended down 74 points, or 0.6 percent, at 12,660.46. The loss snapped a three-week winning streak for the Dow, which fell 60 points for the week but is still up 3.6 percent for the year. 

The Standard & Poor's 500 struggled above even with an hour to go in trading, but it lost the gains and finished down 2.10 points at 1,316.33. The S&P finished the week up a sliver — 0.95 points. 

The Nasdaq composite, which has more than doubled the Dow's gain for the year, edged up 11.27 to 2,816.55. It rose about 30 points this week. 

Economic growth for October through December came in at an annual rate of 2.8 percent. That was the fastest of 2011 but lower than the 3 percent that economists were looking for. 

Utility companies led the way down with a fall of 1.3 percent. Most of the other nine industries in the S&P also fell, but only slightly, continuing a curious trading pattern this year: Trading has been calm in the past four weeks, a big change from the violent moves up and down that marked much of 2011. 

Friday was the 17th day in a row of moves of less than 100 points up or down for the Dow. The last time the index had a longer period of such small moves was a 34-day stretch that started Dec. 3, 2010. 

Despite the drift lower, investors displayed some bullishness. 

Roughly two stocks rose for every one that fell on the New York Stock Exchange. And the Russell 2000 index of smaller stocks rose nearly 2 percent for the week. Investors tend to sell stocks in the Russell when they're worried, not buy them, because smaller firms often don't have much cash and other resources when times get tough. 

"Risk-taking is picking up," says Jeff Schwarte, a portfolio manager at Principal Global Equities. He says his firm has been buying small firms since late last year. "We're still finding attractive stocks." 

Next week, investors will turn their attention to Facebook, the powerhouse social network, which appears headed for the most anticipated initial public offering of stock in years. 

The Wall Street Journal, citing people familiar with the matter, said Friday that Facebook could raise as much as $10 billion in an offering that would value the company at $75 billion to $100 billion. 

That would vault Facebook into the largest public companies in the world, on par with the likes of McDonald's, Amazon.com and Visa. The Journal said Facebook could file IPO papers as early as Wednesday. 

Investors earlier in the week had plenty of reason to hope the indexes would keep moving higher. 

On Wednesday, the Federal Reserve announced it would likely keep benchmark interest rates near zero through late 2014, more than a year longer than it previously indicated. That helped send the Dow to its highest close since May. 

Also lifting spirits: Apple had its best quarter for profits, trouncing expectations. 

On Thursday, the Dow kept rising, briefly passing its highest close since the financial crisis three years ago. But the rally faded after news that new home sales in December had dropped, capping a year that ranked the worst for home sales since record-keeping began in 1963. 

Among stocks making big moves Friday: 

— Chevron fell more than 2 percent, the most of the 30 stocks in the Dow average, after its quarterly profit and revenue came in well below what analysts were expecting. Oil and natural gas production declined. 

— Ford fell 4 percent after reporting disappointing earnings because of weak sales in Europe. The company said its results were also hurt by problems at parts suppliers in Thailand because of flooding there. 

— Starbucks fell 1 percent after reporting late Thursday that that full-year results were likely to come in less than expectations. 

— Procter & Gamble, which makes Tide, Crest and other consumer products, fell less than 1 percent after cutting its earnings outlook. 

— Legg Mason dropped 5 percent after the investment management company's earnings fell by half as clients pulled money out. Legg Mason posted earnings of 20 cents per share. Analysts expected 25 cents, according to FactSet.

6061


----------



## bigdog

Source: http://finance.yahoo.com

The wait for an expected deal between Greece and its creditors rattled financial markets around the world Monday. Yields for ultra-safe U.S. government debt hit their lowest this year, the euro dropped against the dollar, and European stocks took a fall. 

But U.S. stocks dropped only slightly. The Dow Jones industrial average fell 6.74 points to close at 12,653.72, for a drop of 0.1 percent. The Dow lost as much as 131 points in morning trading then slowly recovered in the afternoon. 

Borrowing costs for European countries with the heaviest debt burdens shot higher. The two-year interest rate for Portugal's government debt jumped to 21 percent after trading around 14 percent last week. 

Greece and the investors who bought its government bonds were said to be close to an agreement over the weekend. A tentative deal would replace bonds held by investment funds and banks with new ones at half the face value. 

The plan is aimed at cutting Greece's debt by roughly â‚¬100 billion ($132 billion). Greece needs it to secure a crucial installment of bailout loans and make an upcoming bond payment. But a deal has been in the works for weeks and could still fall apart. 

The focus on Greece has shifted attention away from what's going well in the U.S., said Jack Ablin, chief investment officer at Harris Private Bank. Companies have reported stronger quarterly earnings, and hiring has picked up. 

"Our collective breath has been held for so many months," he said. 

At this point, a good or even a bad resolution of Greece's debt crisis could lead to a stronger U.S. stock market, Ablin said. 

"If it finally happens and the world doesn't fall apart, maybe we'll have a reason to take risk again," he said. "Once you pull off the Band-Aid, it feels better." 

*The NYSE DOW closed  LOWER    -6.74 -0.05%        on Monday January 30*
Sym .......Last .......Change.......... 
Dow  12,653.72  -6.74 -0.05% 
Nasdaq  2,811.94  -4.61 -0.16% 
S&P 500  1,313.01  -3.32 -0.25% 
30-yr Bond  2.9800% -0.0810 

NYSE Volume  3,522,553,750  
Nasdaq Volume  1,678,885,125  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,671.09 -62.36 -1.09%  
DAX 6,444.45 -67.53 -1.04%  
CAC 40 3,265.64 -53.12 -1.60%  

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,334.40  -14.10 -0.32% 
Shanghai Comp  2,285.04   -34.08 -1.47% 
Taiwan Wei...  7,407.41  +173.72 +2.40% 
Nikkei 225  8,793.05  -48.17 -0.54% 
Hang Seng  20,160.41  -341.26 -1.66% 
Straits Times 2,888.29   -27.97 -0.96% 

http://finance.yahoo.com/news/stocks-bond-yields-drop-europe-194931644.html

*Stocks and bond yields drop on Europe worries

US stock indexes dip and Treasury yields sink as markets wait for Greek debt deal*

By Matthew Craft, AP Business Writer 

NEW YORK (AP) -- The wait for an expected deal between Greece and its creditors rattled financial markets around the world Monday. Yields for ultra-safe U.S. government debt hit their lowest this year, the euro dropped against the dollar, and European stocks took a fall. 

But U.S. stocks dropped only slightly. The Dow Jones industrial average fell 6.74 points to close at 12,653.72, for a drop of 0.1 percent. The Dow lost as much as 131 points in morning trading then slowly recovered in the afternoon. 

Borrowing costs for European countries with the heaviest debt burdens shot higher. The two-year interest rate for Portugal's government debt jumped to 21 percent after trading around 14 percent last week. 

Greece and the investors who bought its government bonds were said to be close to an agreement over the weekend. A tentative deal would replace bonds held by investment funds and banks with new ones at half the face value. 

The plan is aimed at cutting Greece's debt by roughly â‚¬100 billion ($132 billion). Greece needs it to secure a crucial installment of bailout loans and make an upcoming bond payment. But a deal has been in the works for weeks and could still fall apart. 

The focus on Greece has shifted attention away from what's going well in the U.S., said Jack Ablin, chief investment officer at Harris Private Bank. Companies have reported stronger quarterly earnings, and hiring has picked up. 

"Our collective breath has been held for so many months," he said. 

At this point, a good or even a bad resolution of Greece's debt crisis could lead to a stronger U.S. stock market, Ablin said. 

"If it finally happens and the world doesn't fall apart, maybe we'll have a reason to take risk again," he said. "Once you pull off the Band-Aid, it feels better." 

U.S. Treasury yields sank to their lowest level this year as traders parked cash in the safest assets. The yield on the 10-year Treasury sank to 1.85 percent. It was trading above 2 percent last Wednesday. 

The yield on the five-year Treasury note hit a record low of 0.71 percent early Monday. It finished Monday at 0.74 percent, from 0.75 percent late Friday. 

An agreement between Greece and its creditors could serve as a blueprint for other European countries with heavy debt burdens. Dan Greenhaus, chief global strategist at BTIG, pointed to Portugal's soaring bond yields in a note to clients. 

"At this rate, Portugal is going to move from the back to front burner in very, very short order," he said. 

European leaders also gathered in Brussels, focusing on how to stimulate economic growth when huge government spending cuts threaten to push many countries back into recession. The latest data showed Spain's economy shrank in the last three months of 2011. 

In other trading, the Standard & Poor's 500 index fell 3.32 points, or 0.3 percent, to 1,313.01. The Nasdaq composite lost 4.6 points, or 0.2 percent, to 2,811.94. 

The euro dropped 0.5 percent against the dollar, to $1.3124 in late trading Monday from $1.3208 late Friday. It was worth almost $1.50 in May. 

European stocks sank. French and Spanish stock markets closed down 1.6 percent. Italian stocks closed down 1.2 percent and German stocks 1 percent. 

Among stocks making big moves Friday: 

”” The fast food chain Wendy's fell 3.8 percent. The Wendy's Co. said a key measure of earnings dropped 30 percent in the fourth quarter. Charges from selling Arby's offset the effects of a jump in sales. 

”” PharMerica Corp. plunged 11 percent. The Federal Trade Commission said it was suing to block rival pharmacy company Omnicare Inc. from completing its $457 million takeover of PharMerica. The agency said a merger of the country's two largest long-term care pharmacies would raise the cost of Medicare prescription plans covering drugs for nursing home residents. Stock in Omnicare Inc. fell less than 1 percent. 

”” Thomas & Betts Corp. soared 23 percent on news that Swiss engineering group ABB Ltd. agreed to buy the maker of power lines and other electrical products for $3.9 billion in cash.


----------



## bigdog

Source: http://finance.yahoo.com

It's the best start for stocks in 15 years. 

In what was mostly a slow and steady climb, the Dow Jones industrial average rose 3.4 percent in January and the Standard & Poor's 500 gained 4.4 percent, the best performances for both indexes to open a year since 1997. 

Investors were encouraged by modest but welcome improvement in the U.S. economy, including an 8.5 percent unemployment rate, the lowest in almost three years. Corporate profits didn't wow anyone — except Apple's — but they were good enough. 

"I don't see anything really glamorous or tremendous about the economy or earnings," said Jerry Harris, chief investment strategist at the brokerage Sterne Agee. "But I think they're very acceptable, and things are grinding along." 

An unexpected drop in consumer confidence dragged stocks down on the final day of the month. The Dow Jones industrial average finished down 20.81 points, or 0.2 percent, at 12,632.91. 

The broader market fared better. The S&P barely finished in the red, declining 0.60 point to 1,312.41. The Nasdaq composite index rose 1.90 points to close at 2,813.84. The Nasdaq gained 8 percent for the month, its best January since 2001. 

In January 1997, the last time stocks had such a fast start, the S&P gained 6.1 percent. Bill Clinton was inaugurated for his second term. An Asian financial crisis and "Titanic" lay ahead. Later that year, the Dow crossed 7,000 and 8,000 for the first time. 

This January, analysts said, investors had such low expectations for the economy that it was easy for things to turn out better than expected. 

"There are no big surprises," said Kim Caughey Forrest, a senior equity analyst at money manager Fort Capital Group. "That's the kind of ho-hum economy that we are in right now." 

The Dow closed at 12,217.56 at the end of last year, then started this year with a pop — a gain of 179.82 points on opening day. It was the kind of big swing investors became accustomed to in 2011. 

Since then, it's been a quiet ascent: 19 days in a row of moves of less than 100 points. The last time the Dow had such a placid stretch was a 34-day run that started Dec. 3, 2010. 

*The NYSE DOW closed  LOWER    -20.81 -0.16%       on Tuesday January 31*
Sym .......Last .......Change.......... 
Dow  12,632.91  -20.81 -0.16% 
Nasdaq  2,813.84  +1.90 +0.07% 
S&P 500  1,312.41  -0.60 -0.05% 
30-yr Bond  2.9300 % -0.0490 

NYSE Volume  4,235,550,000  
Nasdaq Volume  1,802,705,000  

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,681.61 +10.52 +0.19%  
DAX 6,458.91 +14.46 +0.22%  
CAC 40 3,298.55 +32.91 +1.01%   

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,325.70  -8.70 -0.20% 
Shanghai Comp  2,292.61   +7.57 +0.33% 
Taiwan Wei...  7,517.08  +109.67 +1.48% 
Nikkei 225  8,802.51  +9.46 +0.11% 
Hang Seng  20,390.49  +230.08 +1.14% 
Straits Times  2,906.69   +18.40 +0.64% 

http://finance.yahoo.com/news/hot-start-dow-p-best-212950263.html

*Dow and S&P have best January since '97

A slow, steady climb leads Dow and S&P to their best January since 1997*

By Pallavi Gogoi, AP Business Writer 

NEW YORK (AP) -- It's the best start for stocks in 15 years. 

In what was mostly a slow and steady climb, the Dow Jones industrial average rose 3.4 percent in January and the Standard & Poor's 500 gained 4.4 percent, the best performances for both indexes to open a year since 1997. 

Investors were encouraged by modest but welcome improvement in the U.S. economy, including an 8.5 percent unemployment rate, the lowest in almost three years. Corporate profits didn't wow anyone — except Apple's — but they were good enough. 

"I don't see anything really glamorous or tremendous about the economy or earnings," said Jerry Harris, chief investment strategist at the brokerage Sterne Agee. "But I think they're very acceptable, and things are grinding along." 

An unexpected drop in consumer confidence dragged stocks down on the final day of the month. The Dow Jones industrial average finished down 20.81 points, or 0.2 percent, at 12,632.91. 

The broader market fared better. The S&P barely finished in the red, declining 0.60 point to 1,312.41. The Nasdaq composite index rose 1.90 points to close at 2,813.84. The Nasdaq gained 8 percent for the month, its best January since 2001. 

In January 1997, the last time stocks had such a fast start, the S&P gained 6.1 percent. Bill Clinton was inaugurated for his second term. An Asian financial crisis and "Titanic" lay ahead. Later that year, the Dow crossed 7,000 and 8,000 for the first time. 

This January, analysts said, investors had such low expectations for the economy that it was easy for things to turn out better than expected. 

"There are no big surprises," said Kim Caughey Forrest, a senior equity analyst at money manager Fort Capital Group. "That's the kind of ho-hum economy that we are in right now." 

The Dow closed at 12,217.56 at the end of last year, then started this year with a pop — a gain of 179.82 points on opening day. It was the kind of big swing investors became accustomed to in 2011. 

Since then, it's been a quiet ascent: 19 days in a row of moves of less than 100 points. The last time the Dow had such a placid stretch was a 34-day run that started Dec. 3, 2010. 

Scottrade, the online brokerage, said stock buyers outpaced sellers among its clients for the first 14 trading days of the year, Jan. 3 to Jan. 23. It also said volume was 16 percent higher than December's average. 

On Tuesday, the Dow started up 66 points after encouraging signs from Europe that Greece might finally complete a deal to cut its crushing debt, a step toward securing a critical €130 billion bailout payment. 

Greece is negotiating with investors who bought its government bonds. They are expected to swap their bonds for new ones with half the face value, plus a lower interest rate and longer term of maturity. 

Investors are increasingly worried that Portugal may need a similar deal with its private creditors. European leaders insist the Greek reduction is a one-time event. Portugal's borrowing costs have risen to record highs. 

The Dow lost its gains after consumer confidence fell to 61.1 in January, down from 64.8 in December. Economists had expected 68. The Conference Board said Americans are more worried about their incomes, gas prices and business conditions. 

There were also signs that the housing market continues to struggle. Home prices fell in November for a third straight month in in 19 of the 20 cities tracked by the S&P/Case-Shiller index. The biggest declines were in Atlanta, Chicago and Detroit. 

In the commodities market, investors worried that the confidence figure was a sign of weaker demand to come, and they sold industrial metals that have prices closely tied to the economy. 

Copper for March delivery dropped 3.65 cents to $3.79 per pound, and March palladium ended down $2.15 at $686.35 per ounce. April platinum fell $28.20 to $1,588.10 an ounce. 

The metals ended the day down after wild swings. Traders bid up prices in morning trading, encouraged by news that European officials were making progress to contain the financial crisis there, then sold hard on the confidence number. 

"This is a day that every trader takes Tums," said George Gero, vice president at RBC Global Futures. 

Precious metal prices ended the day mixed. The price of gold rose, as it often does when it looks like the economy might shrink or the dollar might lose its value. Gold for April delivery gained $6 to finish at $1,740.40 an ounce. 

In the bond market, the weak U.S. economic data and uncertainty about Greece lit up demand for safe investments. The benchmark 10-year Treasury yield dipped to 1.795 percent, its lowest close in almost four months. 

The yield on the five-year Treasury note hit a record low for the second straight day, falling to 0.70 percent. 

Treasury yields have been falling since last week, when the Federal Reserve said it expected to hold interest rates near zero into late 2014, more than a year longer than its last estimate, because the economic recovery will need help. 

In corporate news: 

— RadioShack Corp. stock plummeted 30 percent after the company said its profit fell sharply — 11 cents to 13 cents per share for the quarter that ended in December, down from 51 cents a year earlier and less than half what Wall Street was expecting. 

— Best Buy Co. Inc., one of RadioShack's competitors, responded by falling 5.6 percent, worst in the S&P. Both companies sell and service cellphones, but demand has softened at their stores. 

— Avery Dennison Corp., which makes labels and packaging materials, fell 5.6 percent after it said earnings plunged 81 percent on nearly flat sales. Its 2012 outlook was well below Wall Street expectations. 

— Mattel Inc. soared 5 percent because of strong demand for Barbie and Monster High dolls during the holidays. That boosted Mattel's fourth-quarter profit by a better-than-expected 14 percent. The company also raised its dividend. 

— U.S. Steel Corp. gained 5 percent after it reported strong demand for pipes from the oil industry from October through December. The company was also optimistic about this quarter. 

— Agriculture conglomerate Archer Daniels Midland declined 3.6 percent after it reported an 89 percent drop in quarterly net income. The company said its results were weighed down by weakness in oilseeds, corn processing and agricultural services.


----------



## bigdog

Source: http://finance.yahoo.com

 U.S. stocks had a big January, and they're starting February strong, too.

Stocks climbed Wednesday after strong manufacturing data and encouraging reports about the Greek debt crisis. The Dow Jones industrial average closed within 100 points of its post-2008 financial crisis peak.

Factories raised output in January by the most in seven months, according to the Institute for Supply Management's manufacturing index. And the Commerce Department said construction spending rose 1.5 percent in December, the fifth straight monthly gain.

"This is a market that is hungry for good news, and when it gets it, it responds very positively," said Alan Gayle, senior investment strategist for RidgeWorth Investments.

The Dow Jones industrial average rose 83.55 points, or 0.7 percent, to close at 12,716.46. Earlier in the day, the Dow was up 151 points. But it moved less than 100 points for the day for the 20th consecutive trading session.

The Dow's highest close since 2008 is 12,810, in April 2011.

The broader Standard & Poor's 500 index rose 11.68 points, or 0.9 percent, to close at 1,324.09. All 10 categories in the S&P 500 rose. The biggest gainer was financial stocks, up 1.6 percent.

The Nasdaq rose 34.43 points, or 1.2 percent, to 2,848.27.

On Tuesday, stocks wrapped up their best January in 15 years. The Dow gained 4.1 percent. Investors are less worried about the European debt crisis, and earnings at American companies are generally meeting expectations.

*The NYSE DOW closed  HIGHER  +83.55 +0.66%   on Wednesday February 1*
Sym .......Last .......Change.......... 
Dow  12,716.46  +83.55 +0.66% 
Nasdaq  2,848.27  +34.43 +1.22% 
S&P 500  1,324.09  +11.68 +0.89% 
30-yr Bond  3.0200% +0.0810 

NYSE Volume  4,448,566,500  
Nasdaq Volume  2,127,951,500 

*Europe*
Symbol... ......Last .....Change.......
FTSE 100 5,790.72 +109.11 +1.92%  
DAX 6,616.64 +157.73 +2.44%  
CAC 40 3,367.46 +68.91 +2.09%   

*Asia Pacific*
Symbol...... .....Last ....Change.......
ASX All Ord  4,291.00  -34.70 -0.80% 
Shanghai Comp  2,268.08   -24.53 -1.07% 
Taiwan Wei...  7,549.21  +32.13 +0.43% 
Nikkei 225  8,809.79  +7.28 +0.08% 
Hang Seng  20,333.37  -57.12 -0.28% 
Straits Times  2,904.76   -1.93 -0.07% 

http://finance.yahoo.com/news/stocks-rise-manufacturing-data-153748751.html

*Stocks rise on manufacturing data*

By JOSHUA FREED | Associated Press  

U.S. stocks had a big January, and they're starting February strong, too.

Stocks climbed Wednesday after strong manufacturing data and encouraging reports about the Greek debt crisis. The Dow Jones industrial average closed within 100 points of its post-2008 financial crisis peak.

Factories raised output in January by the most in seven months, according to the Institute for Supply Management's manufacturing index. And the Commerce Department said construction spending rose 1.5 percent in December, the fifth straight monthly gain.

"This is a market that is hungry for good news, and when it gets it, it responds very positively," said Alan Gayle, senior investment strategist for RidgeWorth Investments.

The Dow Jones industrial average rose 83.55 points, or 0.7 percent, to close at 12,716.46. Earlier in the day, the Dow was up 151 points. But it moved less than 100 points for the day for the 20th consecutive trading session.

The Dow's highest close since 2008 is 12,810, in April 2011.

The broader Standard & Poor's 500 index rose 11.68 points, or 0.9 percent, to close at 1,324.09. All 10 categories in the S&P 500 rose. The biggest gainer was financial stocks, up 1.6 percent.

The Nasdaq rose 34.43 points, or 1.2 percent, to 2,848.27.

On Tuesday, stocks wrapped up their best January in 15 years. The Dow gained 4.1 percent. Investors are less worried about the European debt crisis, and earnings at American companies are generally meeting expectations.

"It doesn't take good news" to make stock prices rise, said Randy Warren, chief investment officer for Warren Financial Service. "It just takes an absence of bad news."

For U.S. and European companies, the price-to-earnings ratio, one measure of how expensive stocks are compared with profits, had been at low levels that assumed the worst about Europe.

"These are Depression-era valuations, and something has to give," Warren said.

Plenty can still go wrong. Greece faces a â‚¬14.5 billion bond payment March 20 that it can't pay without additional help. Greece and the International Monetary Fund said Wednesday that negotiations to reduce Greece's debt should wrap up within days, raising hopes that it can avoid a default.

In the United States, monthly hiring figures from private payroll agency ADP were so-so. ADP said private-sector employment rose by 170,000 in January from the previous month. That was 10,000 fewer jobs than expected by analysts surveyed by FactSet.

ADP also said December job growth was smaller than it previously reported ”” 292,000 instead 325,000. The government releases its report on January job creation Friday.

Investors also looked past a cautious outlook from temporary employee provider ManpowerGroup. Its stock jumped 14 percent after fourth-quarter profits came in much higher than expected.

But the company said that while hiring may increase this spring, the European debt crisis could slow job creation. It predicted lower profits in the current quarter than Wall Street had expected.

In other corporate news:

”” Amazon.com fell 7.7 percent after its quarterly net income fell and revenue growth was slower than Wall Street had expected.

”” Whirlpool rose 13.5 percent after higher appliance prices raised its quarterly profit, and it said it expects shipments to increase as much as 3 percent in North America this year.

”” Health insurer Aetna rose 3.1 percent after reporting a 73 percent jump in fourth-quarter profit on smaller expenses and lower usage of health care.

”” Carmakers reported strong U.S. auto sales for January, with gains at all the big companies except General Motors. Privately held Chrysler's U.S. sales surged 44 percent, and it reported its first annual profit since 1997.

In Europe, British stocks rose 1.9 percent, German stocks 2.4 percent and French stocks 2.1 percent. Earlier in Asia, stocks didn't have the same momentum. Tokyo's Nikkei 225 edged up less than 0.1 percent, and Hong Kong's Hang Seng fell 0.3 percent.

The yield on 10-year U.S. Treasury notes rose 0.029 percentage points to 1.832. The euro rose slightly to almost 1.32 against the dollar.

Oil prices fell after reports that U.S. crude supplies rose last week and energy demand remains weak. West Texas Intermediate crude fell 87 cents to end at $97.61 a barrel in New York. Brent crude rose by 58 cents to finish at $111.56 a barrel in London.


----------



## bigdog

Source: http://finance.yahoo.com 

A drop in the unemployment rate to its lowest level in three years propelled the Dow Jones industrial average Friday to its highest close since May 2008, before the financial meltdown later that year. The Nasdaq composite index hit an 11-year high. 

The Dow jumped 156.82 points to 12,862.23, its highest mark since May 19, 2008, about four months before Lehman Brothers investment bank collapsed. In May 2008, credit markets were tightening up, subprime mortgages were going sour and Bear Stears had already collapsed. 

Before the market opened, the Labor Department said the economy added 243,000 jobs in January. It was the strongest job growth in nine months. The increase in hiring pushed the unemployment rate down to 8.3 percent, the lowest since February 2009. 

The surprising data gave financial markets a morning jolt that lasted throughout the trading day. The Nasdaq index closed 45.98 points higher at 2,905.66, its highest since December 2000, during the steep decline that followed the dot-com stock bubble. 

The price of ultra-safe Treasury notes dropped, sending yields higher, and the price of oil rose for the first time in a week. 

"In this economy, only one variable matters right now, and that variable is employment," said Lawrence Creatura, an equity portfolio manager at Federated Investors. "This report was great news. It was beyond all expectations, literally. The number was higher than even the highest forecast." 

The Standard & Poor's 500 index added 19.36 points, or 1.3 percent, to 1,344.90, its highest close since last July. The S&P 500 surged 2.2 percent for the week, its fifth straight week of gains. That's the longest weekly winning stretch since January of 2011. 

*The NYSE DOW closed  HIGHER  156.82	points	1.23%         on Friday February 3* 
Sym .......Last .......Change.......... 
Dow		12,862.23		156.82		1.23%
Nasdaq		2,905.66		45.98		1.61%
S&P 500		1,344.90		19.36		1.46%
30-yr Bond		3.151		0.14		4.65%

NYSE Volume		4,548,262,500		 		 
Nasdaq Volume		2,106,690,500		 		 

*Europe* 
Symbol... ......Last .....Change....... 
FTSE 100		5,901.07		105.00		1.81%
DAX		6,766.67		111.04		1.67%
CAC 40		3,427.92		51.26		1.52%

*Asia Pacific* 
Symbol...... .....Last ....Change....... 
ASX All Ord		4,320.10		-13.10		-0.30%
Shanghai Comp		2,330.40		17.85		0.77%
Taiwan Wei...		7,674.99		22.53		0.29%
Nikkei 225		8,831.93		-44.89		-0.51%
Hang Seng		20,756.98		17.53		0.08%
Straits Times		2,917.95		16.91		0.58%

http://finance.yahoo.com/news/jobs-report-lifts-dow-highest-215341258.html

*Jobs report lifts Dow to highest mark since '08

Stocks jump on reports of strong January job growth; oil rises for first time in a week*

By Matthew Craft, AP Business Writer 



NEW YORK (AP) -- A drop in the unemployment rate to its lowest level in three years propelled the Dow Jones industrial average Friday to its highest close since May 2008, before the financial meltdown later that year. The Nasdaq composite index hit an 11-year high. 

The Dow jumped 156.82 points to 12,862.23, its highest mark since May 19, 2008, about four months before Lehman Brothers investment bank collapsed. In May 2008, credit markets were tightening up, subprime mortgages were going sour and Bear Stears had already collapsed. 

Before the market opened, the Labor Department said the economy added 243,000 jobs in January. It was the strongest job growth in nine months. The increase in hiring pushed the unemployment rate down to 8.3 percent, the lowest since February 2009. 

The surprising data gave financial markets a morning jolt that lasted throughout the trading day. The Nasdaq index closed 45.98 points higher at 2,905.66, its highest since December 2000, during the steep decline that followed the dot-com stock bubble. 

The price of ultra-safe Treasury notes dropped, sending yields higher, and the price of oil rose for the first time in a week. 

"In this economy, only one variable matters right now, and that variable is employment," said Lawrence Creatura, an equity portfolio manager at Federated Investors. "This report was great news. It was beyond all expectations, literally. The number was higher than even the highest forecast." 

The Standard & Poor's 500 index added 19.36 points, or 1.3 percent, to 1,344.90, its highest close since last July. The S&P 500 surged 2.2 percent for the week, its fifth straight week of gains. That's the longest weekly winning stretch since January of 2011. 

James Paulsen, chief investment strategist at Wells Capital Management, said the jobs report seems to be evidence that the U.S. economy isn't as vulnerable to a shock from Europe as many had feared. If that's true, then investors should be willing to pay more for stocks. 

More evidence that the economy is gaining strength followed the jobs report. A trade group said the service industry expanded at the fastest pace since last February. The government also said factory orders rose 1.1 percent in December, supported by a rebound in orders for heavy machinery. 

Bank of America led the 30 stocks in the Dow, rising 5.2 percent. Only two stocks were lower: Merck and Procter & Gamble. 

Treasury prices fell, lifting the yield on the 10-year note Treasury to 1.93 percent. When bond prices fall, yields rise. The benchmark 10-year rate had traded below 1.79 percent earlier this week as traders bought U.S. Treasurys on renewed concern over Europe's ongoing debt crisis. 

The U.S. jobs figures helped markets in Europe rally on Friday despite further evidence that the 17-country eurozone is heading for recession. Germany's DAX closed 1.7 percent higher, and France's CAC-40 gained 1.5 percent. 

Worries over Europe's debt troubles still have the potential to send markets reeling in the months ahead, Creatura said. He expects the S&P 500 to continue surging but still hit patches of turbulence from Europe in the coming months. 

"It's not over yet," he said. "Even though it appears our aircraft is taking off, you should still keep your seatbelt fastened." 

Among companies whose stocks made large moves: 

— Genworth Financial soared 14 percent, the best gain in the S&P 500. The insurance company reported late Thursday that it swung to a profit in the most recent quarter, helped by gains in sales of life insurance. 

— Weyerhaeuser gained 5.7 percent after reporting better quarterly earnings than analysts' forecasts. The timber and real estate company's earnings still sank 62 percent. 

— Video game maker Take-Two Interactive Software Inc. rose 3 percent. The company reported a 65 percent drop in quarterly profits after the market closed Thursday, but Wall Street's analysts expected much worse.

6634


----------



## RazzaDazzla

New recent highs in US markets, interesting.


----------



## bigdog

Source: http://finance.yahoo.com 
Stock indexes closed slightly lower Monday as talks dragged on between Greek political leaders over a fresh cost-cutting package required for the country to get more bailout loans. 

President Nicolas Sarkozy of France and German Chancellor Angela Merkel warned Greek leaders that they need to push through the measures or risk letting the country go bankrupt. 

Greece is hoping the European Central Bank, the International Monetary Fund and the European Commission will release a second installment of $170 billion in loans. Without that money, Greece will likely default when a bond repayment comes due March 20. 

In Greece, talks between the prime minister and leaders of parties backing his coalition government were postponed for a day, even as European leaders prodded the government to push through new spending cuts, layoffs and other austerity measures. 

The Dow Jones industrial average fell 17.10 points to close at 12,845.13. Travelers Cos. Inc. led the Dow lower with a 1.3 percent loss. 

In other trading, the Standard & Poor's 500 index slipped 0.57 of a point to 1,344.33. The Nasdaq composite fell 3.67 points to 2,901.99. 

Sam Stovall, chief equity strategist at S&P Capital IQ, thinks investors are starting to wonder if the stock market's recent stretch of calm trading is a prelude to a big drop. Trading has turned subdued compared with the wild swings of 2011. The S&P has closed up or down by more than 1 percent only three times this year. In December, that happened nine times. 

 *The NYSE DOW closed   LOWER   on Monday February 6* 
 Sym .......Last .......Change.......... 
	Dow		12,845.13		-17.10		-0.13%	
	Nasdaq		2,901.99		-3.67		-0.13%	
	S&P 500		1,344.33		-0.57		-0.04%	
	30-yr Bond		3.088		-0.06		-2.00%	

	NYSE Volume		3,326,514
Nasdaq Volume		1,684,578


*Europe* 
Symbol... ......Last .....Change.......  
	FTSE 100		5,892.20		-8.87		-0.15%	
	DAX		6,764.83		-1.84		-0.03%	
	CAC 40		3,405.27		-22.65		-0.66%	

*Asia Pacific* 
Symbol...... .....Last ....Change....... 
	ASX All Ord		4,364.60		44.50		1.03%	
	Shanghai Comp		2,331.14		0.73		0.03%	
	Taiwan Wei...		7,687.98		-53.26		-0.69%	
	Nikkei 225		8,929.20		97.27		1.10%	
	Hang Seng		20,709.94		-47.04		-0.23%	
	Straits Times		2,940.10		22.15		0.76%	


http://finance.yahoo.com/news/stocks-slip-wall-street-greek-talks-drag-164328219.html

*Stocks slip on Wall Street as Greek talks drag on

US stocks edge lower as talks over new Greek austerity plan drag on
*
By MATTHEW CRAFT | Associated Press

NEW YORK (AP) -- Stock indexes closed slightly lower Monday as talks dragged on between Greek political leaders over a fresh cost-cutting package required for the country to get more bailout loans. 

President Nicolas Sarkozy of France and German Chancellor Angela Merkel warned Greek leaders that they need to push through the measures or risk letting the country go bankrupt. 

Greece is hoping the European Central Bank, the International Monetary Fund and the European Commission will release a second installment of $170 billion in loans. Without that money, Greece will likely default when a bond repayment comes due March 20. 

In Greece, talks between the prime minister and leaders of parties backing his coalition government were postponed for a day, even as European leaders prodded the government to push through new spending cuts, layoffs and other austerity measures. 

The Dow Jones industrial average fell 17.10 points to close at 12,845.13. Travelers Cos. Inc. led the Dow lower with a 1.3 percent loss. 

In other trading, the Standard & Poor's 500 index slipped 0.57 of a point to 1,344.33. The Nasdaq composite fell 3.67 points to 2,901.99. 

Sam Stovall, chief equity strategist at S&P Capital IQ, thinks investors are starting to wonder if the stock market's recent stretch of calm trading is a prelude to a big drop. Trading has turned subdued compared with the wild swings of 2011. The S&P has closed up or down by more than 1 percent only three times this year. In December, that happened nine times. 

"I look at it like a very-low-tide warning of an impending tsunami," Stovall said. "We're setting ourselves up for a decline, the sort of decline that would make you sit up and take notice." 

A worrisome sign, Stovall said, is a drop in the number of volatile trading days in which the S&P index ends lower. There have been only five days in the last month in which the S&P index has moved by more than 1 percent and then ended with a loss. That's half of the monthly average since 2000. On April 29, the S&P 500 hit its peak for the year after an even calmer period, then lost 19 percent before hitting bottom on Oct. 3. 

Large gains in the market, like the Dow's 156-point surge Friday, are often followed by relatively modest moves as traders pull some of their winnings off the table. Since 1950, whenever the S&P rose by 1 percent or more in a trading day, the index has inched up an average of just 0.1 percent the next day, according to S&P Capital IQ. 

Among companies making big moves: 

”” Boeing Co. fell 1.2 percent following reports that the company found a problem in its 787 Dreamliner. The aircraft maker said it was working to fix it and that there was no safety concern. 

”” Micron Technology Inc. fell 2.8 percent following news that the chip maker's CEO died in a plane crash. Steve Appleton, 51, was at the helm for 18 years, leading the only company he'd ever worked for. 

”” Verizon Communications and Coinstar Inc. edged up after the companies said they will launch a video-streaming service later this year, a challenge to Netflix. Coinstar is the parent of Redbox, a DVD rental company. Coinstar rose 1.8 percent and Verizon 0.8 percent. 

”” Humana dropped 5.4 percent. The health insurance company reported revenue that fell short of analysts' expectations. Humana also raised its earnings outlook for 2012 but that, too, was below analysts' forecast.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks resumed their slow but steady climb Tuesday as Greece appeared close to announcing a deal with creditors to cut its debt. The Dow Jones industrial average ended at its highest level since May 2008.

Stock indexes rose after a report that Greece and the investors who bought its government bonds were close to a deal to reduce what Greece owes. Greece's crushing debt has unnerved financial markets around the world for two years.

"Just some kind of optimism overseas is going to be positive, considering many didn't think anything was going to come to fruition," said Stephen J. Carl, head equity trader at The Williams Capital Group.

A report that job openings soared to the highest level in almost three years in December also helped the U.S. market.

The Dow rose 33.07 points, or 0.3 percent, to close at 12,878.20. It has not closed higher since May 19, 2008, four months before the financial crisis. The Dow is roughly a 10 percent rally away from its all-time high.

The average fell 17 points to start the week. On Tuesday, it was down as much as 62 points in the first half-hour of trading.

McDonald's rose 1.4 percent, best among the 30 stocks in the Dow, to $100.91, close to its 52-week high. Coca-Cola rose 0.8 percent after it reported better profits than analysts were expecting.

In other trading, the Standard & Poor's 500 gained 2.72 points, or 0.2 percent, to 1,347.05. The Nasdaq composite rose 2.09 points, or less than 0.1 percent, to 2,904.08. The Nasdaq is about a point shy of its best close since December 2000.

The jump in U.S. job openings was the latest sign that the job market is improving. The Dow climbed 156 points Friday after the government reported that the U.S. unemployment rate fell to 8.3 percent in January, the lowest in almost three years.

 *The NYSE DOW closed  HIGHER 33.07 0.26%  on Tuesday February 7* 
 Sym .......Last .......Change.......... 
	Dow	12,878.20	33.07	0.26%	
	Nasdaq	2,904.08	2.09	0.07%	
	S&P_500	1,347.05	2.72	0.20%	
	30-yr Bond	3.141	0.05	1.72%	

NYSE Volume	3,726,652,250		 	 	
Nasdaq Volume	1,784,905,000		 	 	

*Europe* 
Symbol... ......Last .....Change....... 
	FTSE_100	5,890.26	-1.94	-0.03%	
	DAX	6,754.20	-10.63	-0.16%	
	CAC_40	3,411.54	6.27	0.18%	

*Asia Pacific* 
Symbol...... .....Last ....Change....... 
	ASX All Ord	4,344.90	-19.70	-0.45%	
	Shanghai Comp	2,291.90	-39.23	-1.68%	
	Taiwan Wei...	7,707.44	19.46	0.25%	
	Nikkei_225	8,917.52	-11.68	-0.13%	
	Hang Seng	20,699.19	-10.75	-0.05%	
	Straits Times	2,957.78	17.68	0.60%	

http://finance.yahoo.com/news/stock-end-higher-erasing-early-losses-221529465.html

*Stock end higher, erasing early losses*

By SAMANTHA BOMKAMP | Associated Press 

NEW YORK (AP) ”” Stocks resumed their slow but steady climb Tuesday as Greece appeared close to announcing a deal with creditors to cut its debt. The Dow Jones industrial average ended at its highest level since May 2008.

Stock indexes rose after a report that Greece and the investors who bought its government bonds were close to a deal to reduce what Greece owes. Greece's crushing debt has unnerved financial markets around the world for two years.

"Just some kind of optimism overseas is going to be positive, considering many didn't think anything was going to come to fruition," said Stephen J. Carl, head equity trader at The Williams Capital Group.

A report that job openings soared to the highest level in almost three years in December also helped the U.S. market.

The Dow rose 33.07 points, or 0.3 percent, to close at 12,878.20. It has not closed higher since May 19, 2008, four months before the financial crisis. The Dow is roughly a 10 percent rally away from its all-time high.

The average fell 17 points to start the week. On Tuesday, it was down as much as 62 points in the first half-hour of trading.

McDonald's rose 1.4 percent, best among the 30 stocks in the Dow, to $100.91, close to its 52-week high. Coca-Cola rose 0.8 percent after it reported better profits than analysts were expecting.

In other trading, the Standard & Poor's 500 gained 2.72 points, or 0.2 percent, to 1,347.05. The Nasdaq composite rose 2.09 points, or less than 0.1 percent, to 2,904.08. The Nasdaq is about a point shy of its best close since December 2000.

The jump in U.S. job openings was the latest sign that the job market is improving. The Dow climbed 156 points Friday after the government reported that the U.S. unemployment rate fell to 8.3 percent in January, the lowest in almost three years.

Michael Sheldon, chief market strategist at RDM Financial Group in Westport, Conn., said that while investors are becoming more optimistic about the economy, there are still signs that they're allocating money cautiously.

The utilities sector was the best performer in the S&P 500, indicating that investors are hanging on to stocks they consider to be relatively safe.

In the bond market, the yield on the benchmark 10-year Treasury note rose to 1.98 percent from 1.90 percent late Monday. Demand for bonds waned as investors became more confident that Greece would reach a deal. A relatively weak auction of three-year Treasury notes also pushed bond prices lower.

The euro rose to a two-year high against the dollar as worries eased about Greece's and Europe's debt problems. The euro rose 1.4 cents against the dollar to $1.33 in afternoon trading.

Among the stocks making big moves in the U.S.:

”” Yum Brands, which owns Taco Bell and KFC, jumped 2.6 percent. Its income surged 30 percent in the fourth quarter because of strong growth overseas and a turnaround in its Pizza Hut business in the U.S.

”” Emerson Electric Co. lost 2.7 percent after the manufacturing and technology company said its quarterly profit fell 23 percent. It said costs rose and sales took a hit from flooding in Thailand.

”” Becton, Dickinson & Co., a medical technology company, fell 3.8 percent. Its profit fell 17 percent in the latest quarter because of higher costs for raw materials and other expenses. The company also cut its 2012 earnings forecast.


----------



## bigdog

Source: http://finance.yahoo.com 
Stocks staged an afternoon-long rally and closed higher Wednesday as Greece appeared to close in on the cost-cutting deal it needs to keep from defaulting on its national debt.

The Dow Jones industrial average gained 5.75 points to close at 12,883.95 after falling as much as 60 points at midday. It was the Dow's highest close since May 19, 2008, the last time it finished above 13,000.

The Standard & Poor's 500 index edged up 2.91 points to 1,346.96. The Nasdaq composite rose 11.78 points to 2,915.86, its highest close since December 2000.

After three days of delays, Greek government leaders met in Athens to go over a deal on steep cuts in public spending demanded by the country's lenders. European leaders will meet Thursday in Brussels to discuss a â‚¬130 billion bailout for Greece.

Investors are worried that Greece will default on its debt next month, which could roil financial markets and cause major losses for banks and other investors that hold Greek debt. Several deadlines have passed without an agreement.

Stock trading has been relatively quiet this week after a slow but steady rise since the beginning of the year. The Dow has added 2 percent in February and is up 5.5 percent for the year.

Rick Fier, vice president of stock trading at Conifer Securities in New York, said he wasn't that worried that the market's advance has slowed this week. The S&P 500 is still up 7.3 percent for the year, and has fallen on only eight days in 2012.

 *The NYSE DOW closed  	HIGHER ▲	5.75	points or ▲	0.04%	Wednesday, 8 February 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,883.95	▲	5.75	▲	0.04%	
	Nasdaq___	2,915.86	▲	11.78	▲	0.41%	
	S&P_500__	1,349.96	▲	2.91	▲	0.22%	
	30_Yr_Bond	3.141	▲	0.00	▲	0.00%	

NYSE Volume	4,050,627,000			 		 	
Nasdaq Volume	1,983,271,380			 		 	

*Europe							
Symbol... .....Last ….....Change....... * 
	FTSE_100	5,875.93	▼	-14.33	▼	-0.24%	
	DAX_____	6,748.76	▼	-5.44	▼	-0.08%	
	CAC_40__	3,410.00	▼	-1.54	▼	-0.05%	

*Asia Pacific							
Symbol...... ….....Last .....Change…...... *  
	ASX_All_Ord__	4,363.70	▲	18.80	▲	0.43%	
	Shanghai_Comp	2,347.53	▲	55.63	▲	2.43%	
	Taiwan_Weight	7,869.91	▲	162.47	▲	2.11%	
	Nikkei_225____	9,015.59	▲	98.07	▲	1.10%	
	Hang_Seng____	21,018.46	▲	319.27	▲	1.54%	
	Strait_Times___	2,982.20	▲	24.42	▲	0.83%	

http://finance.yahoo.com/news/stocks-rally-early-losses-close-higher-215639879.html

Stocks rally from early losses to close higher

By CHRISTINA REXRODE | Associated Press 

NEW YORK (AP) ”” Stocks staged an afternoon-long rally and closed higher Wednesday as Greece appeared to close in on the cost-cutting deal it needs to keep from defaulting on its national debt.

The Dow Jones industrial average gained 5.75 points to close at 12,883.95 after falling as much as 60 points at midday. It was the Dow's highest close since May 19, 2008, the last time it finished above 13,000.

The Standard & Poor's 500 index edged up 2.91 points to 1,346.96. The Nasdaq composite rose 11.78 points to 2,915.86, its highest close since December 2000.

After three days of delays, Greek government leaders met in Athens to go over a deal on steep cuts in public spending demanded by the country's lenders. European leaders will meet Thursday in Brussels to discuss a â‚¬130 billion bailout for Greece.

Investors are worried that Greece will default on its debt next month, which could roil financial markets and cause major losses for banks and other investors that hold Greek debt. Several deadlines have passed without an agreement.

Stock trading has been relatively quiet this week after a slow but steady rise since the beginning of the year. The Dow has added 2 percent in February and is up 5.5 percent for the year.

Rick Fier, vice president of stock trading at Conifer Securities in New York, said he wasn't that worried that the market's advance has slowed this week. The S&P 500 is still up 7.3 percent for the year, and has fallen on only eight days in 2012.

Fier said he is concerned that the batch of earnings reports from U.S. companies for the last three months of last year "hasn't been as robust" as previous quarters. Revenue growth has slowed even though profits have been strong, he said.

Walt Disney reported earnings Tuesday that beat analysts' estimates, but its revenue growth fell short. Movie revenue fell as Disney released fewer big films in the quarter than in previous years. Revenue from DVD sales and interactive media also declined. Disney's stock rose 0.7 percent nevertheless.

Caesars Entertainment Corp., the big casino operator, soared on its first day of trading. Caesars went as high as $17.90, nearly double its offering price of $9 per share. It finished at $15.39, up 71 percent, but lost some of the gains in after-hours trading.

Caesars raised $16 million, a sliver of the more than $500 million its private owners hoped for when they first tried to go public in late 2010.

Ralph Lauren rose 9 percent after reporting higher net income and revenue in the latest quarter, a sign that wealthy customers are still spending even as the economy struggles with high unemployment. The purveyor of $1,000 dresses and handbags said holiday sales had been strong.

Buffalo Wild Wings, a chicken-and-beer chain that has bucked the trend of weak revenue dogging many of its competitors, shot up 17 percent after reporting income and revenue that easily beat analysts' estimates.

Sprint Nextel, the phone company, fell 2 percent after reporting a fourth-quarter loss. It added subscribers but had to pay dearly for them. Sprint started offering customers iPhones, but it had to subsidize them so customers could buy them for as little as $99.

OpenTable, which lets people book tables at restaurants online, plunged 12 percent. Investors had reservations about the company's cautious outlook. Executives said they expect the growth to slow this quarter in the number of diners it seats.

In other markets, Treasury prices were mostly flat, like stocks. The yield on the U.S. government's 10-year note was unchanged at 1.98 percent. The price of oil rose 0.3 percent to $98.71, and gold fell 1 percent to $1,736.20.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market finally got a deal in Greece, but it didn't produce much of a rally.

U.S. stocks rose Thursday morning after Greece announced an agreement to cut costs and keep from defaulting on its debt next month, an event that could have shocked the world financial system.

But stocks dropped later in the morning and never returned to their highs for the day. Analysts cautioned that the market had expected the deal in Greece and warned that Europe still faced problems.

"We still have a lot of wood to chop," said Jeremy Zirin, chief equity strategist at UBS Wealth Management.

The Dow Jones industrial average finished up 6.51 points at 12,890.46. The Standard & Poor's 500 index rose 1.99 to 1,351.95. The Nasdaq composite index climbed 11.37 to 2,927.23.

Earlier in the day, the Dow was as high as 12,924.71, its highest level during a trading day since May 20, 2008. That was also the last day the average traded above 13,000.

In the afternoon, the S&P rose as high as 1,354.32, more than double its level on March 9, 2009, the low for stocks during the Great Recession. It last closed at double the low last July. The Nasdaq is trading at its highest level since December 2000.

The markets have had a strong start this year, mostly because of optimism about the economy. The Dow has gained 5.5 percent, the S&P 7.5 percent. But Zirin said the markets had assumed Greece would reach a deal to keep from defaulting, which is why stocks didn't skyrocket on the news.

The deal calls for Greece to make steep cuts in government jobs and spending. Greece's so-called troika of lenders — the European Union, the European Central Bank and the International Monetary Fund — insisted on the cuts.

The cuts are one condition of a €130 billion bailout for Greece, without which it can't afford €14.5 billion worth of bond payments due March 20.

But the cuts will be hard to implement in a country that has grown used to profligate government spending. Workers are already protesting that job cuts and pay cuts have been too severe.

 *The NYSE DOW closed  	HIGHER ▲	6.51	points or ▲	0.05%	Thursday, 9 February 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,890.46	▲	6.51	▲	0.05%	
	Nasdaq___	2,927.23	▲	11.37	▲	0.39%	
	S&P_500__	1,351.95	▲	1.99	▲	0.15%	
	30_Yr_Bond	3.189	▲	0.05	▲	1.53%	

NYSE Volume	4,059,081,500			 		 	
Nasdaq Volume	2,148,295,250			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,895.47	▲	19.54	▲	0.33%	
	DAX_____	6,788.80	▲	40.04	▲	0.59%	
	CAC_40__	3,424.71	▲	14.71	▲	0.43%	

*Asia Pacific						
Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,357.10	▼	-6.60	▼	-0.15%	
	Shanghai_Comp	2,349.59	▲	2.06	▲	0.09%	
	Taiwan_Weight	7,910.78	▲	40.87	▲	0.52%	
	Nikkei_225____	9,002.24	▼	-13.35	▼	-0.15%	
	Hang_Seng____	21,010.01	▼	-8.45	▼	-0.04%	
	Strait_Times___	2,981.17	▼	-1.03	▼	-0.03%	

http://finance.yahoo.com/news/stocks-close-higher-debt-deal-greece-211701912.html

*Stocks close higher after debt deal in Greece*

By CHRISTINA REXRODE | Associated Press

NEW YORK (AP) — The stock market finally got a deal in Greece, but it didn't produce much of a rally.

U.S. stocks rose Thursday morning after Greece announced an agreement to cut costs and keep from defaulting on its debt next month, an event that could have shocked the world financial system.

But stocks dropped later in the morning and never returned to their highs for the day. Analysts cautioned that the market had expected the deal in Greece and warned that Europe still faced problems.

"We still have a lot of wood to chop," said Jeremy Zirin, chief equity strategist at UBS Wealth Management.

The Dow Jones industrial average finished up 6.51 points at 12,890.46. The Standard & Poor's 500 index rose 1.99 to 1,351.95. The Nasdaq composite index climbed 11.37 to 2,927.23.

Earlier in the day, the Dow was as high as 12,924.71, its highest level during a trading day since May 20, 2008. That was also the last day the average traded above 13,000.

In the afternoon, the S&P rose as high as 1,354.32, more than double its level on March 9, 2009, the low for stocks during the Great Recession. It last closed at double the low last July. The Nasdaq is trading at its highest level since December 2000.

The markets have had a strong start this year, mostly because of optimism about the economy. The Dow has gained 5.5 percent, the S&P 7.5 percent. But Zirin said the markets had assumed Greece would reach a deal to keep from defaulting, which is why stocks didn't skyrocket on the news.

The deal calls for Greece to make steep cuts in government jobs and spending. Greece's so-called troika of lenders — the European Union, the European Central Bank and the International Monetary Fund — insisted on the cuts.

The cuts are one condition of a €130 billion bailout for Greece, without which it can't afford €14.5 billion worth of bond payments due March 20.

But the cuts will be hard to implement in a country that has grown used to profligate government spending. Workers are already protesting that job cuts and pay cuts have been too severe.

The country has missed other targets for reducing its debts. It also still has to persuade private investors to agree to losses on their holdings, which will make those investors less likely to buy Greek bonds in the future.

And other European countries, notably Portugal and Italy, still have long-term debt that economists warn could be unsustainable.

Nigel Travis, CEO of Dunkin' Brands, said the agreement in Greece will be a psychological boost for consumers. And when they feel good about the economy, they're more likely to spend, regardless of whether their wealth is directly affected, he said.

But Travis, whose company runs Dunkin' Donuts and Baskin-Robbins, said Greece wasn't the most pressing problem facing his franchisees. They're more concerned about the U.S. presidential election and getting clarity on whether terms for government-backed small-business loans will change and whether a cut in the Social Security payroll tax will be extended.

"I think it's good news," Travis said of the Greece deal. "Whether it actually solves the euro problem, you have to question."

The euro rose slightly against the dollar to $1.33, its highest level in two months. Bond prices fell slightly. The yield on the U.S. government's benchmark 10-year note rose to 2.04 percent from 1.99 percent Wednesday.

Stocks were also helped Thursday by U.S. jobs data. The number of people seeking unemployment assistance fell to its lowest level since April 2008.

Apple closed in on $500 per share and set an all-time high after reports that it will unveil the iPad 3 at an event in March. The stock has been on a tear for six weeks, rising 22 percent since the start of the year and securing Apple's place, at least for now, as the world's most valuable company by market cap, ahead of Exxon Mobil.

Last month, the company that transformed how Americans listen to music, check email and share photos announced that sales of the iPhone and iPad more than doubled in the last three months of last year. Apple stock closed at $493.17, up almost 4 percent, after touching a record high of $496.75. That's up from $405 just since Dec. 30.

But other stocks didn't fare so well. Among losers for the day:

— Diamond Foods, maker of Emerald Nuts and Pop Secret popcorn, plunged 37 percent. It announced late Wednesday that it was ousting its top two executives amid allegations of improper accounting.

— Groupon, the daily deal website, fell 14 percent after it announced a surprising quarterly loss in its first earnings report as a public company.

— TripAdvisor, the website where travelers can post advice and reviews, lost 15 percent after it missed analysts' earnings expectations. Like Groupon, TripAdvisor was also making its first earnings report as a public company. The website spun off from Expedia in December.

— PepsiCo fell 4 percent after announcing it will cut 3 percent of its workforce, a defense against higher costs for materials.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks are having their worst day this year Friday after Greece hit a roadblock on its way to a critical international bailout.

The Dow Jones industrial average was down 126 points, or 1 percent, at 12,765 at 3 p.m. EST. Materials stocks fell the most. Aluminum producer Alcoa Inc. fell 3.4 percent, the biggest drop among the 30 stocks in the index.

Just a day earlier, investors had been buying stocks on news that Greek Prime Minister Lucas Papademos and the heads of the three parties backing his government had agreed to wage cuts, civil service layoffs and cuts in government spending.

But finance ministers from the other 16 countries that use the euro insisted that Greece save an extra euro325 million ($430 million), pass the cuts through parliament and guarantee that they will be enforced after planned elections in April.

Greece needs another round of international bailout money, its second, to avoid missing a bond payment next month and defaulting, an event that could cause a shock in world financial markets.

By Friday, four Greek cabinet ministers had resigned over the wage cuts and spending reductions, known as austerity measures.

"The economy in Greece is deteriorating faster than anticipated, and the austerity measures aren't particularly popular," said Mark Luschini, chief investment analyst at Janney Montgomery Scott. "There could be a disorderly default."

The decline in U.S. stocks was broad. All 10 industry categories in the S&P 500 were down. Industrial, energy and financial stocks each fell more than 1 percent.

Since the start of the year, stocks have been generally rising on small daily gains because of good economic news and a sense that the worst of the debt crisis in Europe may be over. The Dow has risen 4.5 percent in 2012 and seemed poised earlier this week to break 13,000 for the first time since 2008.

At its low point for the day, the Dow was down 145 points. Its largest intraday loss so far this year was 159 points, on Jan. 13, but the Dow has not closed down more than 100 points since Dec. 28.

In other trading, the broader Standard & Poor's 500 was down 11 points to 1,341. The Nasdaq composite fell 23 points to 2,905.

The benchmark stock index in Athens fell 3.2 percent. Germany's DAX was down 1.4 percent. The CAC-40 in France was down 1.5 percent.

 *The NYSE DOW closed  	LOWER ▼	-89.23	points or ▼	-0.69%	Friday, 10 February 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,801.23	▼	-89.23	▼	-0.69%	
	Nasdaq___	2,903.88	▼	-23.35	▼	-0.80%	
	S&P_500__	1,342.64	▼	-9.31	▼	-0.69%	
	30_Yr_Bond	3.122	▼	-0.07	▼	-2.10%	

NYSE Volume	3,798,786,500			 		 	
Nasdaq Volume	1,751,967,500			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,852.39	▼	-43.08	▼	-0.73%	
	DAX_____	6,692.96	▼	-95.84	▼	-1.41%	
	CAC_40__	3,373.14	▼	-51.57	▼	-1.51%	

*Asia Pacific						
Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,322.60	▼	-34.50	▼	-0.79%	
	Shanghai_Comp	2,351.98	▲	2.39	▲	0.10%	
	Taiwan_Weight	7,862.27	▼	-48.51	▼	-0.61%	
	Nikkei_225____	9,002.24	▼	-13.35	▼	-0.15%	
	Hang_Seng____	21,010.01	▼	-8.45	▼	-0.04%	
	Strait_Times___	2,981.17	▼	-1.03	▼	-0.03%	

http://finance.yahoo.com/news/stocks-fall-sharply-greek-deal-164503882.html

*Stocks fall sharply as Greek deal is held up

Stocks fall most in 2012 over Greek deal holdup; first losing week of the year for S&P 500*
By BERNARD CONDON

Stocks are having their worst day this year Friday after Greece hit a roadblock on its way to a critical international bailout.

The Dow Jones industrial average was down 126 points, or 1 percent, at 12,765 at 3 p.m. EST. Materials stocks fell the most. Aluminum producer Alcoa Inc. fell 3.4 percent, the biggest drop among the 30 stocks in the index.

Just a day earlier, investors had been buying stocks on news that Greek Prime Minister Lucas Papademos and the heads of the three parties backing his government had agreed to wage cuts, civil service layoffs and cuts in government spending.

But finance ministers from the other 16 countries that use the euro insisted that Greece save an extra euro325 million ($430 million), pass the cuts through parliament and guarantee that they will be enforced after planned elections in April.

Greece needs another round of international bailout money, its second, to avoid missing a bond payment next month and defaulting, an event that could cause a shock in world financial markets.

By Friday, four Greek cabinet ministers had resigned over the wage cuts and spending reductions, known as austerity measures.

"The economy in Greece is deteriorating faster than anticipated, and the austerity measures aren't particularly popular," said Mark Luschini, chief investment analyst at Janney Montgomery Scott. "There could be a disorderly default."

The decline in U.S. stocks was broad. All 10 industry categories in the S&P 500 were down. Industrial, energy and financial stocks each fell more than 1 percent.

Since the start of the year, stocks have been generally rising on small daily gains because of good economic news and a sense that the worst of the debt crisis in Europe may be over. The Dow has risen 4.5 percent in 2012 and seemed poised earlier this week to break 13,000 for the first time since 2008.

At its low point for the day, the Dow was down 145 points. Its largest intraday loss so far this year was 159 points, on Jan. 13, but the Dow has not closed down more than 100 points since Dec. 28.

In other trading, the broader Standard & Poor's 500 was down 11 points to 1,341. The Nasdaq composite fell 23 points to 2,905.

The benchmark stock index in Athens fell 3.2 percent. Germany's DAX was down 1.4 percent. The CAC-40 in France was down 1.5 percent.

The euro, which had risen Thursday to its highest level against the dollar in two months, fell by a penny and was trading at just under $1.32. U.S. Treasury yields fell, a sign that investors were buying bonds as a safer investment than stocks.

The price of gold fell $16, or nearly 1 percent, to settle at $1,725 an ounce.

Gold usually rises when stocks fall because it's seen as a safe place to park money when markets are volatile, but that relationship has broken down recently. Many investors now worry that gold is too expensive after a 26 percent surge over the past year.

"People are speculating, and so the drop could get bigger," said Mark Matson, CEO of Matson Money, which manages more $3 billion in assets. "Gold is good for jewelry, not in your portfolio."

In other commodity news, the price of oil fell $1.17 to $98.67 a barrel.

Among stocks making big moves:

-- LinkedIn rose 17 percent. The online networking company announced that fourth quarter earnings had soared and revenue doubled.

-- Jeans maker True Religion Apparel plunged 28 percent. The company reported earnings that were far below what analysts were expecting. Analysts slashed their ratings on the stock, citing weak sales and big markdowns.

-- Telecom gear maker Alcatel-Lucent rose 12 percent after announcing it made its first annual profit in 2011 after years of losses.

-- First Solar, the solar panel maker, fell 10 percent. The company said a construction delay is threatening to undo the sale of a large solar project to power producer Exelon Corp.

7376


----------



## bigdog

Source: http://finance.yahoo.com 
Investors shook off their worries about Greece on Monday and got back to their routine of little-by-little gains.

The Dow Jones industrial average climbed 73 points ”” nothing flashy, but enough to regain most of what it lost with an 89-point drop on Friday. Before that, stocks enjoyed a slow, steady climb this year.

Financial stocks led the Dow higher. Its biggest gainers were Bank of America, up 2.2 percent, and JPMorgan Chase, up 1.8 percent. Financial stocks have been the best performers in the market this year.

Apple crossed $500 per share for the first time, with a 1.9 percent rise to close at $502.60. The company jockeyed with Exxon Mobil last year for the title of most valuable by market value but now enjoys a wide lead, $468 billion to $400 billion.

The market's gains were broad-based, with nine of 10 stock categories in the Standard & Poor's 500 rising, led by industrial stocks. Utilities declined by a whisker. European stocks rose.

For once, investors had the Greek parliament to thank. On Sunday, it approved sharp cuts in civil service jobs, welfare and the minimum wage, required by international leaders for a $170 billion bailout that Greece must have to avoid defaulting on its debt.

Other details of the bailout still need to be finalized, though. And rioting while Greece's parliament voted was a reminder that its financial problems are not solved. Germany also indicated it would take time before approving the bailout.

The Greek debt deal amounts to a default because creditors will get less than they are owed, said Peter Cardillo, chief market economist for Rockwell Global Capital.

Still, "orderly default is better than a chaotic default, which would lean on the whole eurozone and the global economy as well," he said, referring to the 17 countries that use the euro currency.

Cardillo said market gains may be muted for a while because of the social unrest in Greece and because stocks have already risen this year. The Dow is up 5.4 percent, the S&P 7.5 percent.

The Dow closed up 72.81 points, or 0.6 percent, at 12,874.04. It's 16 points shy of its highest close since the 2008 financial meltdown. The S&P rose 9.13 points, or 0.7 percent, to 1,351.77. The Nasdaq composite rose 27.51 points, or 1 percent, to 2,931.39.

 *The NYSE DOW closed  	HIGHER ▲	72.81	points or ▲	0.57%	Monday, 13 February 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,874.04	▲	72.81	▲	0.57%	
	Nasdaq___	2,931.39	▲	27.51	▲	0.95%	
	S&P_500__	1,351.77	▲	9.13	▲	0.68%	
	30_Yr_Bond	3.140	▲	0.02	▲	0.64%	

NYSE Volume	3,617,828,000			 		 	
Nasdaq Volume	1,628,770,500			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,738.47	▲	45.51	▲	0.68%	
	DAX_____	3,384.55	▲	11.41	▲	0.34%	
	CAC_40__	0.81	▲	0.01	▲	0.62%	

*Asia Pacific							Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,359.40	▲	36.80	▲	0.85%	
	Shanghai_Comp	2,351.85	▼	-0.13	▼	-0.01%	
	Taiwan_Weight	7,912.91	▲	50.64	▲	0.64%	
	Nikkei_225____	8,999.18	▲	52.01	▲	0.58%	
	Hang_Seng____	20,887.40	▲	103.54	▲	0.50%	
	Strait_Times___	2,976.34	▲	16.00	▼	-0.03%	

http://finance.yahoo.com/news/us-market-shakes-off-greek-worries-advances-203144836.html

*US market shakes off Greek worries and advances*

By JOSHUA FREED | Associated Press 

Investors shook off their worries about Greece on Monday and got back to their routine of little-by-little gains.

The Dow Jones industrial average climbed 73 points ”” nothing flashy, but enough to regain most of what it lost with an 89-point drop on Friday. Before that, stocks enjoyed a slow, steady climb this year.

Financial stocks led the Dow higher. Its biggest gainers were Bank of America, up 2.2 percent, and JPMorgan Chase, up 1.8 percent. Financial stocks have been the best performers in the market this year.

Apple crossed $500 per share for the first time, with a 1.9 percent rise to close at $502.60. The company jockeyed with Exxon Mobil last year for the title of most valuable by market value but now enjoys a wide lead, $468 billion to $400 billion.

The market's gains were broad-based, with nine of 10 stock categories in the Standard & Poor's 500 rising, led by industrial stocks. Utilities declined by a whisker. European stocks rose.

For once, investors had the Greek parliament to thank. On Sunday, it approved sharp cuts in civil service jobs, welfare and the minimum wage, required by international leaders for a $170 billion bailout that Greece must have to avoid defaulting on its debt.

Other details of the bailout still need to be finalized, though. And rioting while Greece's parliament voted was a reminder that its financial problems are not solved. Germany also indicated it would take time before approving the bailout.

The Greek debt deal amounts to a default because creditors will get less than they are owed, said Peter Cardillo, chief market economist for Rockwell Global Capital.

Still, "orderly default is better than a chaotic default, which would lean on the whole eurozone and the global economy as well," he said, referring to the 17 countries that use the euro currency.

Cardillo said market gains may be muted for a while because of the social unrest in Greece and because stocks have already risen this year. The Dow is up 5.4 percent, the S&P 7.5 percent.

The Dow closed up 72.81 points, or 0.6 percent, at 12,874.04. It's 16 points shy of its highest close since the 2008 financial meltdown. The S&P rose 9.13 points, or 0.7 percent, to 1,351.77. The Nasdaq composite rose 27.51 points, or 1 percent, to 2,931.39.

Worries about the global economy and the state of the U.S. recovery pushed stocks around during the second half of 2011, said Ralph Fogel, a partner and investment strategist for wealth management and advisory firm Fogel Neale Partners in New York. .

"The end of the world was coming," or so traders thought, he said. "It wasn't the end of the world. ... Then the market stopped listening."

The Greek debt deal appeared to take some pressure off U.S. banks. Moody's Investors Services said the $25 billion settlement between mortgage lenders and states over foreclosure practices is a negative for all five major banks involved. Still, most major banks, which have varying levels of exposure in Europe, gained on Monday.

The euro fell a fraction of a penny against the dollar, to $1.32.

In Europe, the FTSE 100 in Britain rose 0.9 percent to 5,906. Germany's DAX rose 0.7 percent to 6,738. The CAC-40 in France rose slightly to 3,385. In Athens, stocks rose 4.6 percent.

In Asia, Japan's Nikkei 225 closed 0.6 percent higher at 8,999, and Hong Kong's Hang Seng gained 0.5 percent.

Investors were not ready to leave the haven of bonds in great numbers. Prices bounced between gains and losses as traders appeared skeptical that Greece was past its debt problem. The yield on the 10-year Treasury note was 1.98 percent, flat from Friday.

Oil rose to $100.49 per barrel in New York. Gold rose slightly to $1,726.60 per ounce.

Among other stocks in the news:

”” ATM maker Diebold Inc. rose 9 percent after it reported strong sales to banks, a sign they may be willing to spend more to upgrade their technology.

”” Chesapeake Energy Corp. rose 2.4 percent after saying it will try to raise as much as $12 billion by selling assets to pay down debt.

”” Regeneron Pharmaceuticals Inc. rose almost 12.3 percent after it said sales of its eye drug Eylea should reach $300 million, up from its previous forecast of $160 million.

”” AmerisourceBergen Corp. fell 3.6 percent after the prescription drug distributor said its chief financial officer left to pursue other interests.

”” The Madison Square Garden Co., following the winning streaks of the NHL's Rangers and the NBA's Knicks, rose 3.8 percent. "Linsanity," the fervor over the Knicks' surprise point guard, Jeremy Lin, should help revenue. Over five games, Lin is racking up an average of 27 points, or about four more than the Dow on a typical day this year.


----------



## bigdog

Source: http://finance.yahoo.com 

*MY CHARTS NOW COMPARES THE DOW, S&P 500 & THE AUST ALL ORDS * 
-- charts indicates we are not performing as well as the US per the one and five year charts!	

The stock market rallied in the last half-hour Tuesday, seizing on reports that suggested the unraveling Greek debt talks might be saved after all. Stocks finished flat after languishing in the red for most of the day. 

The Dow Jones industrial average gained 4.24 points to close at 12,878.28, about 12 points shy of its best finish this year. The Standard & Poor's 500 lost 1.27 points to close at 1,350.50. The Nasdaq composite index gained 0.44 point to 2,931.83. 

As usual, it was about Greece. U.S. stocks were weighed down as European finance chiefs canceled a meeting planned for Wednesday to discuss a second international bailout for the country. 

The meeting was called off after Athens failed to deliver on several demands made by its partners in the euro currency union. Greece needs a â‚¬130 billion bailout by March 20 to avoid a default that could rattle the world financial system. 

Stocks in the U.S. were also hurt by a discouraging report on retail sales. Bank of America led the Dow lower, dropping 3.3 percent. 

The Dow was down as much as 87 points at its low for the day. But the market found hope in reports quoting Greek government officials as saying party leaders would promise by Wednesday to implement deep spending cuts and other reforms. 

Declining stocks still outnumbered advancing stocks by about 2-to-1. Volume was light at about 3.8 billion shares on the New York Stock Exchange. 

The stock market has been rising slowly but steadily most of this year, despite the unresolved debt crisis in Europe and a stalemate over U.S. tax policy and benefits for the long-term unemployed. 

For most of Tuesday, investors appeared to be waiting for more clarity on all those issues before sinking more money into stocks, said Colleen Supran, a principal at the investment adviser Bingham, Osborn & Scarborough. 

"Everyone wants to know the rules of the game before making these decisions," Supran said. 

The late-day rally was a sign that investors expect the coming round of Greek debt talks to resolve some of those outstanding questions. The talks have brought incremental and sometimes contradictory developments that have confused some investors. 

The country has already passed some of the deep spending cuts its lenders were demanding but hasn't really satisfied anyone. Greeks have rioted, saying the cuts are too harsh, and Greece's neighbors have expressed concern that the cuts are not enough. 

"Every week it's, 'The sky is falling,' then, 'No, it's not.' 'There's rioting in the street,' then it's over. 'There's going to be a deal Friday,' then, 'No, it's not Friday, it's Wednesday,'" said Ben Schwartz, chief market strategist at Lightspeed Financial in Chicago. "We really don't know what's underneath the covers over there." 

He thinks U.S. stocks will continue to inch forward ”” not because investors are particularly optimistic about U.S. companies but because they have even less faith in European governments 						

 *The NYSE DOW closed  	HIGHER ▲	4.24	points or ▲	0.03%	Tuesday, 14 February 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,878.28	▲	4.24	▲	0.03%	
	Nasdaq___	2,931.83	▲	0.44	▲	0.02%	
	S&P_500__	1,350.50	▼	-1.27	▼	-0.09%	
	30_Yr_Bond	3.065	▼	-0.08	▼	-2.45%	

NYSE Volume	3,839,528,250			 		 	
Nasdaq Volume	1,879,896,250			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,899.87	▼	-5.83	▼	-0.10%	
	DAX_____	6,728.19	▼	-10.28	▼	-0.15%	
	CAC_40__	3,375.64	▼	-8.91	▼	-0.26%	

*Asia Pacific							
Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,318.90	▼	-40.50	▼	-0.93%	
	Shanghai_Comp	2,344.77	▼	-7.08	▼	-0.30%	
	Taiwan_Weight	7,884.08	▼	-28.83	▼	-0.36%	
	Nikkei_225____	9,052.07	▲	52.89	▲	0.59%	
	Hang_Seng____	20,917.83	▲	30.43	▲	0.15%	
	Strait_Times___	2,987.41	▲	11.07	▲	0.37%	

http://finance.yahoo.com/news/Stocks-stage-late-rally-apf-3937030017.html?x=0

*Stocks stage late rally and finish flat

Stocks rally in last half-hour and finish flat for the day; Greece drives trading again*

By Christina Rexrode, AP Business Writer 

NEW YORK (AP) -- The stock market rallied in the last half-hour Tuesday, seizing on reports that suggested the unraveling Greek debt talks might be saved after all. Stocks finished flat after languishing in the red for most of the day. 

The Dow Jones industrial average gained 4.24 points to close at 12,878.28, about 12 points shy of its best finish this year. The Standard & Poor's 500 lost 1.27 points to close at 1,350.50. The Nasdaq composite index gained 0.44 point to 2,931.83. 

As usual, it was about Greece. U.S. stocks were weighed down as European finance chiefs canceled a meeting planned for Wednesday to discuss a second international bailout for the country. 

The meeting was called off after Athens failed to deliver on several demands made by its partners in the euro currency union. Greece needs a â‚¬130 billion bailout by March 20 to avoid a default that could rattle the world financial system. 

Stocks in the U.S. were also hurt by a discouraging report on retail sales. Bank of America led the Dow lower, dropping 3.3 percent. 

The Dow was down as much as 87 points at its low for the day. But the market found hope in reports quoting Greek government officials as saying party leaders would promise by Wednesday to implement deep spending cuts and other reforms. 

Declining stocks still outnumbered advancing stocks by about 2-to-1. Volume was light at about 3.8 billion shares on the New York Stock Exchange. 

The stock market has been rising slowly but steadily most of this year, despite the unresolved debt crisis in Europe and a stalemate over U.S. tax policy and benefits for the long-term unemployed. 

For most of Tuesday, investors appeared to be waiting for more clarity on all those issues before sinking more money into stocks, said Colleen Supran, a principal at the investment adviser Bingham, Osborn & Scarborough. 

"Everyone wants to know the rules of the game before making these decisions," Supran said. 

The late-day rally was a sign that investors expect the coming round of Greek debt talks to resolve some of those outstanding questions. The talks have brought incremental and sometimes contradictory developments that have confused some investors. 

The country has already passed some of the deep spending cuts its lenders were demanding but hasn't really satisfied anyone. Greeks have rioted, saying the cuts are too harsh, and Greece's neighbors have expressed concern that the cuts are not enough. 

"Every week it's, 'The sky is falling,' then, 'No, it's not.' 'There's rioting in the street,' then it's over. 'There's going to be a deal Friday,' then, 'No, it's not Friday, it's Wednesday,'" said Ben Schwartz, chief market strategist at Lightspeed Financial in Chicago. "We really don't know what's underneath the covers over there." 

He thinks U.S. stocks will continue to inch forward ”” not because investors are particularly optimistic about U.S. companies but because they have even less faith in European governments. 

"We're the best house in a bad neighborhood," he said. 

Downbeat economic news from Europe reinforced the danger. Greece said its economy shrank drastically at the end of last year, and Europe is expected to report Wednesday that the economies of the 17 countries that use the euro shrank 0.4 percent after growing 0.1 percent the quarter before. 

Late Monday, Moody's also downgraded its debt ratings on six European countries, including Italy, Portugal and Spain. Moody's also said it might cut France, Austria and the U.K. as well. 

News out of the U.S. was also disappointing. The Commerce Department said U.S. retail sales rose 0.4 percent last month, but analysts were expecting 0.7 percent, and spending on auto sales was down. Automakers had reported higher sales, so Tuesday's numbers could mean they have had to offer more discounts to persuade customers to spend. 

”” Yahoo fell 5 percent after reports that its plans to sell its Asian assets, a key strategy for turning around the troubled company, fell apart. 

”” Goodyear Tire and Rubber Co. fell 5 percent after its fourth-quarter profits missed analysts' expectations. 

”” Bank of America fell 3.3 percent after Citi analyst Keith Horowitz downgraded his rating to neutral, saying the bank's "legacy issues," notably its 2008 purchase of mortgage lender Countrywide, "will take a while to play out." 

”” Luxury retailer Michael Kors Holdings Limited was a bright spot, shooting up 28 percent after revenue skyrocketed 69 percent in the latest quarter. The company, which peddles $300 sequined jumpsuits and wristwatches at stores in cities like Milan and Paris, was helped by strong holiday sales as well as new stores. Its results are also a sign that wealthy customers are continuing to shop even as the rest of the economy struggles.


----------



## bigdog

Source: http://finance.yahoo.com 
Stocks slumped Wednesday in one of their worst showings this year as Greece, slogging through negotiations with other countries over a bailout, once again cast a long shadow over the financial markets.

The Dow Jones industrial average dropped 97.33 points to close at 12,780.95. It was the worst one-day decline for the Dow this year, and the index narrowly avoided its first triple-digit loss for the year. The average was down as much as 125 points.

The Standard & Poor's 500 and the Nasdaq composite index climbed tentatively through the morning but gave up their gains by afternoon. The S&P fell 7.27 points to 1,343.23. The Nasdaq fell 16 points to 2,915.83.

The declines were broad, with nine of the 10 industry groups in the S&P recording losses. The only group that didn't was materials, which was flat. Only five of the 30 stocks in the Dow rose for the day, and just barely.

In a 3 ½-hour conference call with the finance ministers of the other 16 countries that use the euro, Greece offered assurances that it had found â‚¬325 million in budget cuts in addition to harsh measures that it has already promised.

But in a sign of the distrust that has built during the European debt crisis, particularly among richer countries, a European official said Greece would need tighter oversight of its budget before it receives another bailout.

Greece needs the money before a big bond payment comes due March 20. A default would rattle the world financial system. For weeks, incremental movement in the Greek crisis has whipsawed U.S. stocks.

"Long story short, we long for the days when markets traded on fundamentals," said David Katz, principal at WeiserMazars Wealth Advisors. He thinks stock picks have been ruled by emotion, rather than clear-eyed examinations of companies' balance sheets, at least since the credit crunch in 2007 and the ensuing Great Recession.

"Just as quickly as you see the market pop up from one headline, then you see the downturn from another," Katz said. "It doesn't really have to be (big news). It's not even the meat of the story, it's the headline."

Greece makes up just 2 percent of the total economic output of the 17 countries that use the euro. But investors are troubled by the fallout from a potential default and similar financial problems festering in other European countries, like Portugal, Italy and Spain.

Stocks have risen steadily all year, so some analysts argued that a slowdown was inevitable. The S&P 500 ended 2011 at 1,258, and many analysts predicted it would end 2012 at 1,350. But it had already reached that level last week.

 *The NYSE DOW closed  	LOWER ▼	-97.33	points or ▼	-0.76%	Wednesday, 15 February 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,780.95	▼	-97.33	▼	-0.76%	
	Nasdaq___	2,915.83	▼	-16.00	▼	-0.55%	
	S&P_500__	1,343.23	▼	-7.27	▼	-0.54%	
	30_Yr_Bond	3.093	▲	0.03	▲	0.91%	

NYSE Volume	4,045,544,750			 		 	
Nasdaq Volume	2,038,680,500			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,892.16	▼	-7.71	▼	-0.13%	
	DAX_____	6,757.94	▲	29.75	▲	0.44%	
	CAC_40__	3,390.35	▲	14.71	▲	0.44%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,327.40	▲	8.50	▲	0.20%	
	Shanghai_Comp	2,366.70	▲	21.93	▲	0.94%	
	Taiwan_Weight	8,005.24	▲	121.16	▲	1.54%	
	Nikkei_225____	9,260.34	▲	208.27	▲	2.30%	
	Hang_Seng____	21,365.23	▲	447.40	▲	2.14%	
	Strait_Times___	3,011.68	▲	24.27	▲	0.81%	

http://finance.yahoo.com/news/dow-falls-97-points-worst-showing-222251847.html

*Dow falls 97 points, worst showing this year*

By CHRISTINA REXRODE 

NEW YORK (AP) ”” Stocks slumped Wednesday in one of their worst showings this year as Greece, slogging through negotiations with other countries over a bailout, once again cast a long shadow over the financial markets.

The Dow Jones industrial average dropped 97.33 points to close at 12,780.95. It was the worst one-day decline for the Dow this year, and the index narrowly avoided its first triple-digit loss for the year. The average was down as much as 125 points.

The Standard & Poor's 500 and the Nasdaq composite index climbed tentatively through the morning but gave up their gains by afternoon. The S&P fell 7.27 points to 1,343.23. The Nasdaq fell 16 points to 2,915.83.

The declines were broad, with nine of the 10 industry groups in the S&P recording losses. The only group that didn't was materials, which was flat. Only five of the 30 stocks in the Dow rose for the day, and just barely.

In a 3 ½-hour conference call with the finance ministers of the other 16 countries that use the euro, Greece offered assurances that it had found â‚¬325 million in budget cuts in addition to harsh measures that it has already promised.

But in a sign of the distrust that has built during the European debt crisis, particularly among richer countries, a European official said Greece would need tighter oversight of its budget before it receives another bailout.

Greece needs the money before a big bond payment comes due March 20. A default would rattle the world financial system. For weeks, incremental movement in the Greek crisis has whipsawed U.S. stocks.

"Long story short, we long for the days when markets traded on fundamentals," said David Katz, principal at WeiserMazars Wealth Advisors. He thinks stock picks have been ruled by emotion, rather than clear-eyed examinations of companies' balance sheets, at least since the credit crunch in 2007 and the ensuing Great Recession.

"Just as quickly as you see the market pop up from one headline, then you see the downturn from another," Katz said. "It doesn't really have to be (big news). It's not even the meat of the story, it's the headline."

Greece makes up just 2 percent of the total economic output of the 17 countries that use the euro. But investors are troubled by the fallout from a potential default and similar financial problems festering in other European countries, like Portugal, Italy and Spain.

"There is no shortage of people who would argue that Greece is a non-event," said Dan McMahon, director of equity trading at Raymond James. "It's more that it's a barometer for the rest of the eurozone."

Stocks have risen steadily all year, so some analysts argued that a slowdown was inevitable. The S&P 500 ended 2011 at 1,258, and many analysts predicted it would end 2012 at 1,350. But it had already reached that level last week.

"When the market does in a few weeks what was expected for the year, it's natural for the market to sort of pause and pinch itself and say, 'Is this supposed to go on?'" said Brian Gendreau, market strategist for Cetera Financial Group.

"If it continued at the same pace for the rest of the year, that's just unrealistic. You'd need an unrelenting drumbeat of good news, and we haven't gotten that," Gendreau said.

The price of oil climbed to its highest level in five weeks after Iran said it would cut off some exports of crude to Europe. Iran was responding to the European Union's plans to embargo Iranian oil this summer, an attempt to pressure Iran to abandon its nuclear program. Benchmark U.S. crude rose $1.06 to end the day at $101.80 per barrel in New York.

The average retail price for a gallon of gas was $3.52. Gas prices are already the highest on record for this time of year, and economists fear that they could crimp the halting economic recovery. This time a year ago, gas was $3.12.

Apple stock went on a wild zigzag. It set an all-time high at midday, $526.29 per share, but fell sharply and closed down $11.79 at $497.67 after eight straight days of gains.

The decline appeared to be caused by rumors that the Nasdaq 100 index would adjust its components to give Apple, the biggest company in the world by market value, less weight. That would force mutual funds that track the Nasdaq 100 to sell Apple stock.

Those rumors may have been overblown. Nasdaq declined to comment on Apple but pointed out that it adjusts the index if a company's market value represents more than 24 percent of the index. Apple represented about 17 percent at the end of the day Wednesday.

The euro fell slightly against the dollar to just under $1.31. The euro had been mostly rising since mid-January, but topped out around $1.33 late last week.

The yield on the U.S. government's benchmark 10-year Treasury note fell to 1.93 percent from 1.94 percent. Yields fall and bond prices rise when investors decided to seek a haven for their money rather than take a bet on the stock market.

Among the biggest movers in the U.S. market:

”” Comcast, the cable provider, climbed 5 percent after beating Wall Street expectations for profit and revenue. It managed to slow the loss of customers as it added channels and better customer service.

”” Kellogg rose 5 percent after announcing it would buy Pringles from Procter & Gamble. Diamond Foods had a deal to buy Pringles but got caught up in an accounting scandal. P&G was flat, and Diamond was up 5 percent.

”” Zynga, the maker of popular Facebook games like FarmVille, plummeted 18 percent after reporting it lost money in the fourth quarter. Zynga went public in December.


----------



## bigdog

Source: http://finance.yahoo.com 

 Investors sent U.S. stocks barreling to their highest levels of the year Thursday, buoyed by slivers of encouraging news about jobs and housing. At least for a day, they overlooked the lack of clarity about Greece's marathon negotiation for a bailout.

The Dow Jones industrial average rose 123.13 points to close at 12,904.08, its third triple-digit gain this year. It was the highest close for the Dow since May 19, 2008, four months before the worst of the financial crisis.

As the Dow moved to within sight of 13,000, applause broke out at the closing bell on the floor of the New York Stock Exchange.

The Standard & Poor's 500 rose 14.81 points to 1,358.04, its highest close in nine and a half months. The Nasdaq composite, which has had an even stronger year than the Dow and S&P and is trading at its highest since 2000, rose 44.02 points to 2,959.85.

The rally was broad, with all but one of the 30 stocks in the Dow, Kraft Foods, closing higher. All 10 industry groups in the S&P were comfortably higher, led by materials stocks, including strong showings from DuPont and Dow Chemical.

General Motors was among the best-performing stocks of the day. Two years after it was almost wiped out, the company turned a record $7.6 billion profit last year, bigger even than when Americans couldn't stop buying trucks and SUVs.

Microsoft rose 4 percent, as did Bank of America, which tends to swing wildly with the market.

The Labor Department said weekly applications for unemployment benefits dropped for the fourth time in five weeks to the lowest point since March 2008. That was when the jobless rate was just 5.1 percent, far below the current rate of 8.3 percent.

Construction of single-family homes cooled slightly in January, but a rise in permits suggested builders were growing more confident that more buyers are ready to come off the sidelines.

There are doubts about how long the momentum can be sustained, and even questions about what's sustaining it.

The market has seemed determined to move higher this year, despite mostly incremental and vague news about the Greek debt crisis and sometimes-conflicting reports on the U.S. economy.

 *The NYSE DOW closed  	HIGHER ▲	123.13	points or ▲	0.96%	Thursday, 16 February 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,904.08	▲	123.13	▲	0.96%	
	Nasdaq___	2,959.85	▲	44.02	▲	1.51%	
	S&P_500__	1,358.04	▲	14.81	▲	1.10%	
	30_Yr_Bond	3.149	▲	0.06	▲	1.81%	

NYSE Volume	 4,066,990,500 			 		 	
Nasdaq Volume	 1,942,289,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,885.38	▼	-6.78	▼	-0.12%	
	DAX_____	6,751.96	▼	-5.98	▼	-0.09%	
	CAC_40__	3,393.25	▲	2.90	▲	0.09%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,257.20	▼	-70.20	▼	-1.62%	
	Shanghai_Comp	2,356.86	▼	-9.84	▼	-0.42%	
	Taiwan_Weight	7,869.70	▼	-135.54	▼	-1.69%	
	Nikkei_225____	9,238.10	▼	-22.24	▼	-0.24%	
	Hang_Seng____	21,277.28	▼	-87.95	▼	-0.41%	
	Strait_Times___	2,973.82	▼	-37.86	▲	0.81%	

http://finance.yahoo.com/news/dow-within-100-13-000-stocks-barrel-higher-200712066.html

*Dow within 100 of 13,000 as stocks barrel higher*

By CHRISTINA REXRODE | Associated Press

NEW YORK (AP) — Investors sent U.S. stocks barreling to their highest levels of the year Thursday, buoyed by slivers of encouraging news about jobs and housing. At least for a day, they overlooked the lack of clarity about Greece's marathon negotiation for a bailout.

The Dow Jones industrial average rose 123.13 points to close at 12,904.08, its third triple-digit gain this year. It was the highest close for the Dow since May 19, 2008, four months before the worst of the financial crisis.

As the Dow moved to within sight of 13,000, applause broke out at the closing bell on the floor of the New York Stock Exchange.

The Standard & Poor's 500 rose 14.81 points to 1,358.04, its highest close in nine and a half months. The Nasdaq composite, which has had an even stronger year than the Dow and S&P and is trading at its highest since 2000, rose 44.02 points to 2,959.85.

The rally was broad, with all but one of the 30 stocks in the Dow, Kraft Foods, closing higher. All 10 industry groups in the S&P were comfortably higher, led by materials stocks, including strong showings from DuPont and Dow Chemical.

General Motors was among the best-performing stocks of the day. Two years after it was almost wiped out, the company turned a record $7.6 billion profit last year, bigger even than when Americans couldn't stop buying trucks and SUVs.

Microsoft rose 4 percent, as did Bank of America, which tends to swing wildly with the market.

The Labor Department said weekly applications for unemployment benefits dropped for the fourth time in five weeks to the lowest point since March 2008. That was when the jobless rate was just 5.1 percent, far below the current rate of 8.3 percent.

Construction of single-family homes cooled slightly in January, but a rise in permits suggested builders were growing more confident that more buyers are ready to come off the sidelines.

There are doubts about how long the momentum can be sustained, and even questions about what's sustaining it.

The market has seemed determined to move higher this year, despite mostly incremental and vague news about the Greek debt crisis and sometimes-conflicting reports on the U.S. economy.

"I think we're floating on air. There's not much going on," said Ben Schwartz, chief market strategist at Lightspeed Financial.

He warned that there could be volatility ahead for the market. The Dow has yet to suffer a 100-point loss this year, a sharp contrast to the triple-digit swings that were common last summer.

John Burke, president of Burke Financial Strategies in New Jersey, said he thinks the Federal Reserve has been artificially propping up the market with cheap money generated by low interest rates.

Burke warned that the low rates could allow the U.S. to put off reducing its budget deficit.

"They're pushing the problem off," Burke said. "We're fine today, we'll avoid recession, but what's that going to do to us when the term is up?"

Gas prices could be a threat for the U.S. economy, particularly as Iran threatens to cut exports. The average price for a gallon of gasoline is $3.52, the highest on record this time of year, and could climb to $4.25 a gallon by late April.

But others thought the positive jobs and housing reports will continue to be what sways the market.

"The more important story is what clearly is a continuing U.S. recovery," said Tim Speiss, chairman of personal wealth advisers at EisnerAmper. "I could go find some negative news report, but it would go against what investors are doing."

The hopeful signs about the economy increased investors' appetite for higher-risk investments like stocks, and they moved money out of bonds to make room in their portfolios.

The yield on the government's benchmark 10-year Treasury note, which moves in the opposite direction from its price, was at 1.92 percent before the report on jobless claims. It jumped to 1.96 percent in minutes.

A separate report found that wholesale prices, excluding the volatile food and energy categories, increased 0.4 percent in January, the most in six months. Inflation generally hurts Treasurys by reducing the buying power of the fixed returns they pay.

Also just before the jobs news came out, the euro was sitting at a three-week low against the dollar. But it rallied almost a full penny, to $1.3143 from $1.3063 late Wednesday.

The euro is perceived to be a riskier investment than the dollar, and traders tend to buy riskier currencies and sell safer ones when they perceive the economic situation to be getting better.

As it has for many days, the Greek crisis plodded along without any certainty. The difference this time was that investors didn't seem to care. European finance ministers will discuss the Greek bailout at a meeting Monday.

Greece is negotiating for breaks on loans due next month in addition to the bailout, which would be aimed at preventing a bankruptcy that could send a shock through the world financial system.

But some investors are growing complacent: They either have faith that the European Union will find a way to keep Greece from defaulting, or they think Greece will default but it won't matter to the rest of Europe.

Among other stocks making big moves:

— J.M. Smucker plummeted 8 percent after the company missed analysts' estimates for net income and revenue. The company said its sales volume fell 10 percent because it raised prices for Jif peanut butter, Folgers coffee and Crisco.

— Molson Coors rose 3 percent after the beer maker beat analysts' expectations, helped by higher sales of Modelo beer in Japan and Coors Light in Latin America and China.

— Tech stocks rose 1.57 percent, behind only materials companies as the biggest gainers for the day. Some analysts think that tech will prove a wise investment because companies, sitting on cash that they are nervous about investing otherwise, will plow it into new technology. Groupon rose 4 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

The Dow edged teasingly close to the 13,000 marker on Friday, a milestone it hasn't reached since before the financial crisis brought the U.S. economy to its knees. 

The Dow Jones industrial average rose 45.79 points, or 0.4 percent, to close at 12,949.87, its highest close for the year so far. That followed a 123-point surge the day before, when it also set a closing record for 2012. 

The rest of the market struggled for direction on what turned out to be a quiet news day as traders prepared for the long Presidents' Day weekend. The Standard & Poor's 500 rose 3.19 points, or 0.2 percent, to 1,361.23, also setting a record close for 2012. The Nasdaq composite, after surging Thursday, fell 8.07 points, or 0.3 percent, to 2,951.78. Greek debt talks idled and a key economic indicator, U.S. consumer prices, came in at about what analysts were expecting. 

The Dow hasn't closed above 13,000 since May 19, 2008, a time when the Bush administration was still in charge, Lehman Brothers and Merrill Lynch still existed, and unemployment was just 5.4 percent, compared to the current 8.3 percent. 

Though 13,000 in some ways would be just a number on a board, with no direct bearing on the fundamentals of the economy, its psychological effect could still be important. People and businesses tend to spend based on how they feel about the economy, and big round numbers can affect feelings just as much as money in the wallet. 

For the most part, the market has moved higher this year, despite worries that the rally is being driven just by emotion rather than economic fundamentals. The Dow is up 6 percent in the first seven weeks of this year. In all of 2011, it rose 5.5 percent. 

 *The NYSE DOW closed  	HIGHER ▲	46.02	points or ▲	0.36%	Friday, 17 February 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,950.10	▲	46.02	▲	0.36%	
	Nasdaq___	2,951.78	▼	-8.07	▼	-0.27%	
	S&P_500__	1,361.23	▲	3.19	▲	0.23%	
	30_Yr_Bond	3.161	▲	0.01	▲	0.38%	

NYSE Volume	 3,708,468,000 			 		 	
Nasdaq Volume	 1,973,903,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,905.07	▲	19.69	▲	0.33%	
	DAX_____	6,848.03	▲	96.07	▲	1.42%	
	CAC_40__	3,439.62	▲	46.37	▲	1.37%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,273.30	▲	16.10	▲	0.38%	
	Shanghai_Comp	2,357.18	▲	0.32	▲	0.01%	
	Taiwan_Weight	7,894.36	▲	24.66	▲	0.31%	
	Nikkei_225____	9,384.17	▲	146.07	▲	1.58%	
	Hang_Seng____	21,491.62	▲	214.34	▲	1.01%	
	Strait_Times___	3,000.59	▲	23.39	▲	0.79%	

http://finance.yahoo.com/news/dow-average-closes-within-50-211105059.html

*Dow average closes within 50 points of 13,000

Hopes for resolution on Greece's debt crisis bring the Dow to within 50 points of 13,000*

By Christina Rexrode, AP Business Writer 

NEW YORK (AP) -- The Dow edged teasingly close to the 13,000 marker on Friday, a milestone it hasn't reached since before the financial crisis brought the U.S. economy to its knees. 

The Dow Jones industrial average rose 45.79 points, or 0.4 percent, to close at 12,949.87, its highest close for the year so far. That followed a 123-point surge the day before, when it also set a closing record for 2012. 

The rest of the market struggled for direction on what turned out to be a quiet news day as traders prepared for the long Presidents' Day weekend. The Standard & Poor's 500 rose 3.19 points, or 0.2 percent, to 1,361.23, also setting a record close for 2012. The Nasdaq composite, after surging Thursday, fell 8.07 points, or 0.3 percent, to 2,951.78. Greek debt talks idled and a key economic indicator, U.S. consumer prices, came in at about what analysts were expecting. 

The Dow hasn't closed above 13,000 since May 19, 2008, a time when the Bush administration was still in charge, Lehman Brothers and Merrill Lynch still existed, and unemployment was just 5.4 percent, compared to the current 8.3 percent. 

Though 13,000 in some ways would be just a number on a board, with no direct bearing on the fundamentals of the economy, its psychological effect could still be important. People and businesses tend to spend based on how they feel about the economy, and big round numbers can affect feelings just as much as money in the wallet. 

"It's not an insignificant psychological barrier," said Marc Scudillo, managing officer at EisnerAmper in New Jersey. "People still need to have that vote of confidence that investing in U.S. companies is still the right direction to go long-term." 

On the other hand, popping up to 13,000 could also have a contradictory effect on the Dow. It would almost certainly trigger requirements in some investment firms to sell off some of their stocks, which could briefly push the index back down. 

By some accounts, the market is stalling out under the weight of conflicting headlines about the U.S. economy and about Greece, which is trying to secure rescue loans from other European countries so it won't default on debt due next month. 

Though recent news about jobless claims and housing starts have been incrementally better, they're still far below where they need to be for a full recovery. Greece and its lenders no sooner hammer out one portion of a debt deal before they find something else to disagree on. In the 33 trading days of 2012 to date, the Dow has risen on 19 and fallen on 14. 

"Today is just waiting to see what's next," said Sanjeev Bhojraj, an accounting professor at Cornell's Johnson business school. "You don't know which way to go — you're hoping the news will help you figure it out." 

For the most part, the market has moved higher this year, despite worries that the rally is being driven just by emotion rather than economic fundamentals. The Dow is up 6 percent in the first seven weeks of this year. In all of 2011, it rose 5.5 percent. 

Some of that could be an early-year pop. Last year, all three major indexes rose in the first quarter before giving up at least some of those gains by year's end. 

The yield on the benchmark 10-year Treasury note rose to 2.01 percent from 1.99 percent late Thursday. That's a sign that investors are moving money out of safe-haven government bonds and into riskier investments like stocks. 

Major European indexes rose, including a 5 percent surge in Greece's ATHEX. The euro rose slightly to $1.32, indicating confidence in Europe. 

There were some encouraging signs that Greece could secure its bailout deal next week. The finance ministers of the euro zone countries are meeting Monday to finalize the terms. A spokesman for German Chancellor Angela Merkel said that she as well as the leaders of Greece and Italy are "optimistic" that a deal can be reached. 

Among stocks making big moves: 

— Campbell Soup rose 3 percent after beat analysts' expectations for quarterly earnings. The company is in the midst of a turnaround plan that includes adding more expensive, higher-quality soups and broadening offerings in its snack, beverage and other categories 

— H.J. Heinz rose 5 percent after beating expectations for quarterly earnings and revenue. The ketchup maker was helped by a big sales increase in emerging markets like China, Russia and Latin America. 

— Madison Square Garden jumped in afternoon trading after reports circulated that it had reached an agreement with Time Warner Cable to let Time Warner customers view MSG sports programming. That ends a blackout that infuriated customers anxious to watch New York Knicks point guard Jeremy Lin. Madison Square Garden was flat for most of the day before rising to close up 3 percent. 

— Gilead Sciences plunged 14 percent after the drugmaker said a promising hepatitis C treatment it recently acquired may have to be used with other drugs in patients with the disease. The company said some patients in a small part of a mid-stage study relapsed within a month of completing the treatment.

8088


----------



## bigdog

Source: http://finance.yahoo.com

*Wall Street was shut for a public holiday  on Monday, 20 February 2012* 

Markets were optimistic Monday that Greece will finally secure a massive but long-delayed international bailout, allowing the debt-crippled country to avoid defaulting on its debts next month. 

A surprise easing in monetary policy in China over the weekend also added to the buoyant mood in markets ”” many stock indexes are trading at multi-month highs, while the euro has recovered its poise. 

The main focus of attention ”” on a day when Wall Street is shut for a public holiday ”” will be Brussels, where the finance ministers from the 17 eurozone countries are gathering to discuss the elusive Greek bailout deal. 

After some eurozone countries suggested last week that they might prefer Greece to default, the latest comments indicate the ministers will approve the euro130 billion ($171 billion) bailout. Greece has struggled to convince its partners in the eurozone, particularly Germany, that it will enact the austerity and reform measures in return for the cash. 

As the finance ministers arrived for the meeting, which may last until well into the night, they appeared ready to back the deal.	 						

*The NYSE DOW was closed for public holiday on Monday, 20 February 2012
Symbol …........Last ......Change..... * 
Dow_Jones	12,950.10	
Nasdaq___	2,951.78	
S&P_500__	1,361.23	
30_Yr_Bond	3.161	

NYSE Volume	 3,708,468,000 			 		 	
Nasdaq Volume	 1,973,903,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,945.25	▲	40.18	▲	0.68%	
	DAX_____	6,948.25	▲	100.22	▲	1.46%	
	CAC_40__	3,472.54	▲	32.92	▲	0.96%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,332.80	▲	59.50	▲	1.39%	
	Shanghai_Comp	2,363.60	▲	6.42	▲	0.27%	
	Taiwan_Weight	7,954.82	▲	60.46	▲	0.77%	
	Nikkei_225____	9,485.09	▲	100.92	▲	1.08%	
	Hang_Seng____	21,424.79	▼	-66.83	▼	-0.31%	
	Strait_Times___	3,021.19	▲	20.60	▲	0.69%	

http://finance.yahoo.com/news/greek-bailout-hopes-shore-markets-110921901.html

*Greek bailout hopes shore up markets

Markets rise on Greek bailout hopes, China's move to ease monetary policy*

By Pan Pylas, AP Business Writer 

LONDON (AP) -- Markets were optimistic Monday that Greece will finally secure a massive but long-delayed international bailout, allowing the debt-crippled country to avoid defaulting on its debts next month. 

A surprise easing in monetary policy in China over the weekend also added to the buoyant mood in markets ”” many stock indexes are trading at multi-month highs, while the euro has recovered its poise. 

The main focus of attention ”” on a day when Wall Street is shut for a public holiday ”” will be Brussels, where the finance ministers from the 17 eurozone countries are gathering to discuss the elusive Greek bailout deal. 

After some eurozone countries suggested last week that they might prefer Greece to default, the latest comments indicate the ministers will approve the euro130 billion ($171 billion) bailout. Greece has struggled to convince its partners in the eurozone, particularly Germany, that it will enact the austerity and reform measures in return for the cash. 

As the finance ministers arrived for the meeting, which may last until well into the night, they appeared ready to back the deal. 

"I am of the opinion that today we have to deliver, because we don't have any more time," Jean-Claude Juncker, the prime minister of Luxembourg who also chairs the meetings of eurozone finance ministers, said as he arrived in Brussels. 

Alongside the bailout, Greece is expected to conclude debt-reduction discussions with its private creditors. That should slice off around euro100 billion ($133 billion) from Greece's debt mountain. Even after that, Greece will have the highest debt burden of all the euro countries. 

One of the last-minute hurdles to overcome is how to get Greece's debt burden down to around 120 percent of GDP by 2020. One way that target could be met is if European central banks forgo profits due on their holdings of Greek debt. 

Even though there are issues that need to be ironed out, investors are confident of a successful conclusion. 

"Although we can all be allowed a degree of skepticism regarding an imminent solution to the Greek bailout, investors still seem happy to look for excuses to buy, and stock markets still seem to have plenty of momentum, even considering how far they have come in recent months," said David Jones, chief market strategist at IG Index. 

In Europe, the FTSE 100 index of leading British shares was up 0.6 percent at 5,942 while Germany's DAX rose 1.1 percent to 6,926. The CAC-40 in France was 0.5 percent higher at 3,456. 

The euro was 0.3 percent higher at $1.3249. 

Sentiment was also boosted by the surprise decision over the weekend by China's central bank to lower the ratio of funds that banks must hold as reserves to 20.5 percent from 21 percent, effective Friday. That will free up tens of billions of dollars for loans at a time when the growth rate is expected to drop from last quarter's 8.9 percent to closer to 8 percent. The cut is the second in two months. 

"The loosening of monetary policy reflects official concern over the prospects for economic growth, where a variety of indicators such as exports, industrial production and retail sales are all reflecting a slower pace of growth," said Neil MacKinnon, global macro strategist at VTB Capital. 

Earlier in Asia, Japan's Nikkei 225 index added 1.1 percent to close at 9,485.09, its highest closing level of the year. South Korea's Kospi rose slightly to 2,024.90. Mainland China's benchmark Shanghai Composite Index climbed 0.3 percent to 2,363.60 after gaining more than 1 percent earlier in the day, while the Shenzhen Composite Index gained 0.3 percent to 923.32. 

Hong Kong's Hang Seng dipped 0.3 percent to 21,424.79. 

In the oil markets, Iran was battling with Greece to be the main focus of attention. Oil prices jumped to a nine-month high above $105 a barrel Monday after Iran said it halted crude exports to Britain and France in an escalation of a dispute over the Middle Eastern country's nuclear program. Benchmark March crude was up $1.83 to $105.43 per barrel in electronic trading on the New York Mercantile Exchange.


----------



## bigdog

Source: http://finance.yahoo.com 

It came and went in a flash, a number on a board for seconds at a time, but its symbolic power couldn't be dismissed. 

The Dow Jones industrial average, powered higher all year by optimism that the economic recovery is finally for real, crossed 13,000 on Tuesday for the first time since May 2008. 

The last time the Dow occupied such rarefied territory, unemployment was a healthy 5.4 percent, and Lehman Brothers was a solvent investment bank. Financial crises happened in other countries, or the history books. 

The milestone Tuesday came about two hours into the trading day. The Dow was above 13,000 for about 30 seconds, and for slightly longer at about noon and 1:30 p.m., but couldn't hold its gains. It finished up 15.82 points at 12,965.69. 

Still, Wall Street took note of the marker. 

It was just last summer that the Dow unburdened itself of 2,000 points in three terrifying weeks. S&P downgraded the United States credit rating, Washington was fighting over the federal borrowing limit, and the European debt crisis was raging. 

The tumult of last summer and fall left the Dow as low as 10,655. Its close Tuesday put it 22 percent above that low. The Dow is 1,199 points from an all-time high, a 9 percent rally from here. 

Dow Jones, which decides which 30 companies are the best barometer, says the index can accurately represent the economy because the Dow 30 make up 25 to 30 percent of the market value of all U.S. public companies.	

 *The NYSE DOW closed  	HIGHER ▲	15.82	points or ▲	0.12%	Tuesday, 21 February 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,965.69	▲	15.82	▲	0.12%	
	Nasdaq___	2,948.57	▼	-3.21	▼	-0.11%	
	S&P_500__	1,362.21	▲	0.98	▲	0.07%	
	30_Yr_Bond	3.191	▲	0.03	▲	0.95%	

NYSE Volume	 3,765,543,250 			 		 	
Nasdaq Volume	 1,815,109,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,928.20	▼	-17.05	▼	-0.29%	
	DAX_____	6,908.18	▼	-40.07	▼	-0.58%	
	CAC_40__	3,465.24	▼	-7.30	▼	-0.21%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,368.20	▲	35.40	▲	0.82%	
	Shanghai_Comp	2,381.43	▲	17.83	▲	0.75%	
	Taiwan_Weight	7,921.50	▼	-33.32	▼	-0.42%	
	Nikkei_225____	9,463.02	▼	-22.07	▼	-0.23%	
	Hang_Seng____	21,478.72	▲	53.93	▲	0.25%	
	Strait_Times___	3,025.07	▲	3.88	▲	0.13%	

http://finance.yahoo.com/news/dow-breaks-13-000-cant-211228807.html

*Dow breaks 13,000 but can't hold gains

Dow crosses 13,000 for first time since 2008 but can't hold on*

By Christina Rexrode, AP Business Writer 

NEW YORK (AP) -- It came and went in a flash, a number on a board for seconds at a time, but its symbolic power couldn't be dismissed. 

The Dow Jones industrial average, powered higher all year by optimism that the economic recovery is finally for real, crossed 13,000 on Tuesday for the first time since May 2008. 

The last time the Dow occupied such rarefied territory, unemployment was a healthy 5.4 percent, and Lehman Brothers was a solvent investment bank. Financial crises happened in other countries, or the history books. 

The milestone Tuesday came about two hours into the trading day. The Dow was above 13,000 for about 30 seconds, and for slightly longer at about noon and 1:30 p.m., but couldn't hold its gains. It finished up 15.82 points at 12,965.69. 

Still, Wall Street took note of the marker. 

It was just last summer that the Dow unburdened itself of 2,000 points in three terrifying weeks. S&P downgraded the United States credit rating, Washington was fighting over the federal borrowing limit, and the European debt crisis was raging. 

A second recession in the United States was a real fear. But the economy grew faster every quarter last year, and gains in the job market have been impressive, including 243,000 jobs added in January alone. 

"Essentially over the last couple of months you've taken the two biggest fears off the table, that Europe is going to melt down and that we're going to have another recession here," said Scott Brown, chief economist for Raymond James. 

The tumult of last summer and fall left the Dow as low as 10,655. Its close Tuesday put it 22 percent above that low. The Dow is 1,199 points from an all-time high, a 9 percent rally from here. 

A long-awaited deal to cut the debt of Greece and prevent a potentially catastrophic default, announced before dawn in Europe after 12 hours of talks, helped the Dow clear 13,000. 

Under the bailout deal, Greece will get â‚¬130 billion, or about $172 billion, from other European nations and the International Monetary Fund. In a separate deal, investors in Greek bonds will forgive â‚¬107 billion in debt. 

After months in which talks crawled along and vague headlines yanked the market up and down, the conclusion was almost anticlimactic because the markets were already expecting an agreement. 

European markets didn't take the news as well. Stocks closed down 3.5 percent in Greece, where stocks have lost 80 percent of their value since 2007. Stocks declined less than 1 percent Tuesday in Germany, France and Britain. 

Investors noted that Greece remains in deep recession. Its bond investors will take a 53.5 percent loss on the face value of their bonds, which could discourage future investment. 

In the U.S., investors were cheered by earnings from Home Depot, watched closely as a barometer of American spending on homes, and Macy's. Wal-Mart missed Wall Street expectations, and its stock lost 4 percent, worst among the 30 stocks in the Dow. 

The Dow has climbed 6 percent this year and has not lost 100 points on any day. The Greek debt crisis may be receding, but high gasoline prices are emerging as a threat to the economic recovery, and thus the stock market. 

A gallon of regular gas costs $3.57 on average, the highest on record for this time of year. With tension building over Iran's nuclear ambitions, Iran has halted oil exports to Britain and France and threatened to stop shipping to other European countries. 

The price of oil settled at $106.25, up $2.65 for the day and its highest level since last May. The price jumped more than $1 in about 20 minutes after Iran's foreign ministry spokesman told reporters that a U.N. team visiting Iran has no plans to inspect the country's nuclear facilities and will only hold talks with Iranian officials. 

"That was the olive branch the market was holding onto," said Phil Flynn, an analyst for the brokerage PFGBest. "If they're not going to discuss the nuclear program, then we're a lot closer to a conflict than further away," he said. 

Airline stocks got clobbered. United Continental lost 9 percent, Delta Air Lines 7 percent. The Dow transportation average lost 1.5 percent. 

Materials, telecommunications and energy companies led the industries gaining ground. Health care companies, makers of consumer staples and utilities, traditionally stocks to own in more cautious times, were lower. 

The Standard & Poor's 500 index surpassed 1,363, its peak from April 2011, but closed at 1,362.21, up 0.98 point. The Nasdaq composite, which is heavy with technology stocks and trading at levels not seen since December 2000, closed down 3.21 points at 2,948.57. 

Metals prices jumped because of expectations that demand may improve after the Greek bailout package was approved and China took another step to stimulate economic growth. Silver finished up 3.7 percent, and platinum, copper and palladium all rose 3 percent or more. Gold ended up 1.9 percent. 

The Dow industrials last closed above 13,000 on May 19, 2008. The next day, they crossed under 13,000, not to return for almost four years. They fell as low as 6,547 on March 9, 2009. A reading of 13,094 would double that. 

Dan McMahon, director of equity trading at Raymond James, called the 13,000 mark "just a big round number" as a matter of market fundamentals. But he added: "Psychologically, it matters." 

The milestone could motivate cautious investors to pump more money back into the stock market. The yield on the government's benchmark 10-year Treasury note rose to 2.06 percent from 2.01 percent Friday, a sign that fewer investors wanted the bonds and were instead willing to buy riskier stocks. 

"You need notches along the way to measure things," and Dow 13,000 is as good as any, said John Manley, chief equity strategist for Wells Fargo's funds group. "Is 50 older than 49 and a half? Yes, by six months. Do those six months really make a difference? Probably not. But it does give us a fixed point, something we can look at." 

The Dow is also an imperfect measure of the economy's health. It is made up of just 30 companies, and it's weighted so that the few with the highest stock prices carry the most heft. 

A tiny percentage change in the stock of IBM, which is trading around $193, sways the index much more than a giant change in the stock of Bank of America, which is trading around $8. 

Last year, the Dow rose 5.5 percent. But strip out IBM and McDonald's, the two stocks with the highest prices last year, and it rose just 1.8 percent, according to calculations by Birinyi Associates. 

Dow Jones, which decides which 30 companies are the best barometer, says the index can accurately represent the economy because the Dow 30 make up 25 to 30 percent of the market value of all U.S. public companies.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks closed lower Wednesday for the first time in four trading days. The Dow Jones industrial average lost 27.02 points to finish at 12,938.67. The day before, it briefly passed 13,000 for the first time since May 2008. 

Some investors worried about the details of a bailout deal reached for Greece this week. But analysts said investors were mostly in a holding pattern after seeing the market hit an important psychological mark. 

"The market is pausing for the next slew of good news," said Doug Cote, chief market strategist at ING Investment Management. "The real U.S. economy continues to march along while the attention is on Europe." 

On Thursday, the government will give the latest reading on unemployment claims. They have been declining steadily and fell last week to 348,000, the lowest since March 2008. 

The Dow has lost ground on just four of the past 11 trading days. It's been trading at or near four-year highs for three weeks and is up 6 percent this year. Strong corporate earnings have been a key factor, Cote said. 

On Wednesday, the Dow traded in a range of just 63 points. Over the past year, it has had smaller trading ranges on only nine other days. The average daily range over that time has been 181 points. 

Financial stocks led the market lower. Investors worried that a $170 billion bailout for Greece, announced Tuesday, would not be enough to keep the debt-laden country from eventually defaulting and possibly leaving the euro currency group. 

 *The NYSE DOW closed  	LOWER ▼	-27.02	points or ▼	-0.21%	Wednesday, 22 February 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,938.67	▼	-27.02	▼	-0.21%	
	Nasdaq___	2,933.17	▼	-15.40	▼	-0.52%	
	S&P_500__	1,357.66	▼	-4.55	▼	-0.33%	
	30_Yr_Bond	3.149	▼	-0.04	▼	-1.32%	

NYSE Volume	 3,608,694,000 			 		 	
Nasdaq Volume	 1,705,701,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,916.55	▼	-11.65	▼	-0.20%	
	DAX_____	6,843.87	▼	-64.31	▼	-0.93%	
	CAC_40__	3,447.37	▼	-17.87	▼	-0.52%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,372.10	▲	3.90	▲	0.09%	
	Shanghai_Comp	2,403.59	▲	22.16	▲	0.93%	
	Taiwan_Weight	8,001.68	▲	80.18	▲	1.01%	
	Nikkei_225____	9,554.00	▲	90.98	▲	0.96%	
	Hang_Seng____	21,549.28	▲	53.93	▲	0.33%	
	Strait_Times___	2,995.59	▼	-29.48	▼	-0.97%	

http://finance.yahoo.com/news/stocks-lower-day-dows-blip-211153649.html

*Stocks lower a day after Dow's blip above 13,000

Stocks edge lower a day after Dow's short-lived climb past 13,000*

By Samantha Bomkamp, AP Business Writer

NEW YORK (AP) -- A day after Dow 13,000, investors took a break. 

Stocks closed lower Wednesday for the first time in four trading days. The Dow Jones industrial average lost 27.02 points to finish at 12,938.67. The day before, it briefly passed 13,000 for the first time since May 2008. 

Some investors worried about the details of a bailout deal reached for Greece this week. But analysts said investors were mostly in a holding pattern after seeing the market hit an important psychological mark. 

"The market is pausing for the next slew of good news," said Doug Cote, chief market strategist at ING Investment Management. "The real U.S. economy continues to march along while the attention is on Europe." 

On Thursday, the government will give the latest reading on unemployment claims. They have been declining steadily and fell last week to 348,000, the lowest since March 2008. 

The Dow has lost ground on just four of the past 11 trading days. It's been trading at or near four-year highs for three weeks and is up 6 percent this year. Strong corporate earnings have been a key factor, Cote said. 

On Wednesday, the Dow traded in a range of just 63 points. Over the past year, it has had smaller trading ranges on only nine other days. The average daily range over that time has been 181 points. 

Financial stocks led the market lower. Investors worried that a $170 billion bailout for Greece, announced Tuesday, would not be enough to keep the debt-laden country from eventually defaulting and possibly leaving the euro currency group. 

Greece says the bailout, plus an agreement it hopes to secure from investors to take losses on Greek government bonds, will keep it in the euro group. "There is no issue of the country's financial collapse," Finance Minister Evangelos Venizelos said. 

The Greek economy is entering its fifth year of recession. Fitch ratings agency downgraded Greece further into junk status Wednesday, to a rating of C, one notch above default. 

In the U.S., the Standard & Poor's 500 lost 4.55 points to close at 1,357.66. The Nasdaq composite index declined 15.40 points to 2,933.17. Volume was lighter than average, 3.6 billion shares. 

All three major averages are well ahead for the year. The Dow is up 5.9 percent, the S&P 8 percent and the Nasdaq 12.6 percent. 

"The market has done well in the face of some pretty low expectations," said Todd Salamone of Schaeffer's Investment Research. "Right now we're just seeing a few speed bumps." 

Salamone said he believes investors will keeping focusing on negative news overseas despite better news on the U.S. economy. Last week, Congress extended a cut in the Social Security payroll tax, worth $1,000 for someone making $50,000 a year. 

European markets closed lower. In Asia, stocks mostly rose even after a fairly weak Chinese manufacturing survey. The dollar rose to a seven-month high against the Japanese yen. U.S. Treasury prices edged higher, and the yield on the 10-year U.S. Treasury note fell to 2 percent from 2.05 percent. 

Among U.S. stocks making big moves: 

”” Computer maker Dell fell 6 percent after reporting an 18 percent drop in first-quarter profit. The company was hurt by slow sales to government agencies, tough competition from Apple and flooding in Thailand that disrupted its supplies. 

”” Toll Brothers Inc., the luxury homebuilder, fell 5 percent after posting a quarterly loss. It did report more signed contracts and a bigger backlog, encouraging measures for coming months. 

”” Garmin Ltd., which makes GPS systems, jumped 9 percent after its quarterly net income rose 25 percent on higher prices and sales. The company's results and 2012 revenue forecast beat Wall Street's expectations.


----------



## bigdog

Source: http://finance.yahoo.com 

The Dow Jones industrial average made another run at 13,000 but couldn't quite get there. 

Stocks recovered from an early loss Thursday and pushed the Dow within four points of the milestone. Investors were encouraged by more good news on U.S. jobs, but gains were limited by poor results from retailers such as Safeway and Kohl's. 

The Dow finished up 46.02 points at 12,984.69. The Standard & Poor's 500 index gained 5.80 points to close at 1,363.46. The Nasdaq composite index climbed 23.81 points to 2,956.98. 

The Dow pierced 13,000 three times Tuesday but could not hold the milestone. The average hasn't closed above 13,000 since May 19, 2008, four months before the financial crisis. 

Investors were encouraged Thursday after the government reported that the number of people seeking unemployment benefits last week was unchanged. The four-week average was the lowest in four years. 

High unemployment has been a problem for retailers, which have been forced to slash prices even though they are paying more to make and ship their goods. The burden showed in Thursday's earnings reports. 

 *The NYSE DOW closed  	HIGHER ▲	46.02	points or ▲	0.36%	Thursday, 23 February 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,984.69	▲	46.02	▲	0.36%	
	Nasdaq___	2,956.98	▲	23.81	▲	0.81%	
	S&P_500__	1,363.46	▲	5.80	▲	0.43%	
	30_Yr_Bond	3.124	▼	-0.03	▼	-0.79%	

NYSE Volume	 3,726,476,500 			 		 	
Nasdaq Volume	 1,768,261,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,937.89	▲	21.34	▲	0.36%	
	DAX_____	6,809.46	▼	-34.41	▼	-0.50%	
	CAC_40__	3,447.31	▼	-0.06	▲	0.00%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,367.50	▼	-4.60	▼	-0.11%	
	Shanghai_Comp	2,409.55	▲	5.97	▲	0.25%	
	Taiwan_Weight	7,937.30	▼	-64.38	▼	-0.80%	
	Nikkei_225____	9,595.57	▲	41.57	▲	0.44%	
	Hang_Seng____	21,380.99	▲	53.93	▼	-0.78%	
	Strait_Times___	2,968.34	▼	-27.25	▼	-0.91%	

http://finance.yahoo.com/news/dow-flirts-13-000-again-210726737.html

*Dow flirts with 13,000 again but can't make it

Stocks climb, but Dow can't quite clear 13,000 barrier at the close*

NEW YORK (AP) -- The Dow Jones industrial average made another run at 13,000 but couldn't quite get there. 

Stocks recovered from an early loss Thursday and pushed the Dow within four points of the milestone. Investors were encouraged by more good news on U.S. jobs, but gains were limited by poor results from retailers such as Safeway and Kohl's. 

The Dow finished up 46.02 points at 12,984.69. The Standard & Poor's 500 index gained 5.80 points to close at 1,363.46. The Nasdaq composite index climbed 23.81 points to 2,956.98. 

The Dow pierced 13,000 three times Tuesday but could not hold the milestone. The average hasn't closed above 13,000 since May 19, 2008, four months before the financial crisis. 

Investors were encouraged Thursday after the government reported that the number of people seeking unemployment benefits last week was unchanged. The four-week average was the lowest in four years. 

High unemployment has been a problem for retailers, which have been forced to slash prices even though they are paying more to make and ship their goods. The burden showed in Thursday's earnings reports. 

Kohl's, the department store chain, sank 6 percent after weak holiday sales caused it to miss Wall Street estimates for revenue and earnings. Grocery store chain Safeway Inc. plunged more than 7 percent after reporting a 6 percent drop in profit. 

Part of the problem is the rising cost of gas, which could hurt the economic recovery. The price of gas is rising as tensions mount over Iran's nuclear program. A gallon of regular sells for $3.61 on average, the highest on record this time of year. 

The price of oil jumped again Thursday, to $107.83, a nine-month high and up $1.52 for the day. Besides Iran, analysts blamed the falling U.S. dollar, which makes oil more expensive for investors holding foreign money. 

The euro jumped to a two-month high against the dollar, $1.337, up almost a penny from Wednesday, after business confidence surged in Germany. 

Dillard's, another department store chain, and the discount chain Target also missed analysts' estimates. Earlier this week, Wal-Mart fell short on earnings and revenue after aggressive discounts for the holidays cut into profit margin. 

Sears Holdings Corp., which owns Sears, Kmart and Land's End, also missed estimates for revenue and per-share earnings. Its stock soared 19 percent, but that was because it outlined plans to spin off some stores and sell others. 

For the most part, U.S. stocks have been rising since Thanksgiving, as the most potent fears of last summer ”” that the country would enter another recession, and that the European debt crisis would damage the U.S. economy ”” have dissipated. 

The market has yet to settle into a definitive trend, however. In the 36 completed trading days so far this year, the Dow has risen on 21 and fallen on 15. 

"On Tuesday the world is ending, on Wednesday the opposite happens, after two or three weeks we're right where we started because not much happened," said Bill Hampel, chief economist of the Credit Union National Association. 

Of the S&P 500's 10 industry groups, nine finished the day higher. Financial stocks led the charge forward, partly because of a calm day for news about Greek debt talks. U.S. bank stocks were pummeled last year as investors worried about exposure to European debt, but some of those concerns have eased. 

On Thursday, the Greek Parliament approved a plan to wipe out â‚¬107 billion of debt that it owes to investors who hold its government bonds. Greece is expected to make a formal offer to bondholders Friday. 

Earlier this week, Greece locked down a second bailout from the International Monetary Fund and other countries that use the euro currency. The bailout is designed to prevent a default on Greece's debt, which could shock the world financial system. 

But deep problems continue to haunt Greece, including a recession and the prospect that investors will shy away from buying its bonds in the future. The U.S. market has been yanked up and down this year by incremental headlines from Greece. 

David Trone, managing director of JMP Securities, a brokerage, said financial stocks were up because of the relative calm in Greece. U.S. bank stocks had plummeted last year over fears about their exposure to European debt. 

"Investors aren't feeling any happier or any worse than they were yesterday," Trone said. 

In the bond market, yields for U.S. Treasurys fell slightly after the government sold seven-year notes at a lower yield than the average over the past four months. The yield on the 10-year Treasury was 2 percent, virtually unchanged from Wednesday. 

Among other stocks making big moves in the U.S.: 

”” HSN Inc., which runs a cable TV channel for home shopping, rose 1.6 percent after its profit climbed 13 percent in the most recent quarter. 

”” Vivus Inc., a drugmaker, rose 78 percent after federal regulators said that Qnexa, a drug Vivus is developing for weight loss, should be approved. 

”” CEC Entertainment Inc., which owns Chuck E. Cheese children's restaurants, rose 1 percent after an analyst for Morgan Keegan upgraded the company. Morgan Keegan said store remodels may attract more guests. 

By Christina Rexrode, AP Business Writer


----------



## bigdog

Source: http://finance.yahoo.com 

A two-point gain was enough to push the S&P 500 index to its highest level since June 2008, three months before the collapse of Lehman Brothers and the darkest days of the financial crisis. 

The S&P 500 index closed at 1,365.74, beating its 2011 closing high by two points. 

For the second day this week, the Dow Jones industrial average nudged above 13,000 then pulled back. It rose 29 points in the morning but wavered in the afternoon. The Dow dropped 1.74 points to close at 12,982.95. American Express was the leading stock among the 30 that make up the average, gaining 1.2 percent. 

It was a similar story on Tuesday, when the Dow flitted above 13,000 three times but ended the day lower. The average hasn't closed above 13,000 since May 19, 2008. 

What will it take for the Dow to close above 13,000 and stay there? Mark Lamkin, CEO of Lamkin Wealth Management in Louisville, Ky., said it would require a surprising news event, like a huge merger or an economic report that blows past expectations. 

"It needs some type of surprise, a bombshell," Lamkin said. "We've had a pretty good run over the past four months. Now it's going to take something great to keep it above 13,000." 


The Dow has climbed back slowly since its 2009 low of 6,547.05, and its other milestones have also generated a frenzy of attention. But as motivations for investment, their record has been mixed: 

— On Oct. 14, 2009, about 10 years after the first time the Dow hit 10,000, the average hit the mark again. Traders passed around baseball caps labeled "Dow 10,000 2.0" on the floor of the New York Stock Exchange. 

— On April 12, 2010, the Dow crossed 11,000. This time, the Dow climbed in the following week, up 0.8 percent. Three weeks after that, it was down 2 percent. 

— On Feb. 1, 2011, the Dow crossed 12,000. A week later, it was up 1.6 percent. Three weeks after that, it was virtually flat. 

 *The NYSE DOW closed  	LOWER ▼	-1.74	points or ▼	-0.01%	Friday, 24 February 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,982.95	▼	-1.74	▼	-0.01%	
	Nasdaq___	2,963.75	▲	6.77	▲	0.23%	
	S&P_500__	1,365.74	▲	2.28	▲	0.17%	
	30_Yr_Bond	3.098	▼	-0.03	▼	-0.83%	

NYSE Volume	 3,367,789,000 			 		 	
Nasdaq Volume	 1,641,587,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,935.13	▼	-2.76	▼	-0.05%	
	DAX_____	6,864.43	▲	54.97	▲	0.81%	
	CAC_40__	3,467.03	▲	19.72	▲	0.57%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,389.00	▲	21.50	▲	0.49%	
	Shanghai_Comp	2,439.63	▲	30.07	▲	1.25%	
	Taiwan_Weight	7,959.34	▲	22.04	▲	0.28%	
	Nikkei_225____	9,647.38	▲	51.81	▲	0.54%	
	Hang_Seng____	21,406.86	▲	53.93	▲	0.12%	
	Strait_Times___	2,978.08	▲	9.74	▲	0.33%	

http://finance.yahoo.com/news/S-P-500-index-hits-highest-apf-2205963910.html?x=0

*S&P 500 index hits highest point since June 2008

Dow Jones industrial average hovers near 13,000; consumer confidence surges past forecasts*

By Matthew Craft, AP Business Writer 

NEW YORK (AP) -- A two-point gain was enough to push the S&P 500 index to its highest level since June 2008, three months before the collapse of Lehman Brothers and the darkest days of the financial crisis. 

The S&P 500 index closed at 1,365.74, beating its 2011 closing high by two points. 

For the second day this week, the Dow Jones industrial average nudged above 13,000 then pulled back. It rose 29 points in the morning but wavered in the afternoon. The Dow dropped 1.74 points to close at 12,982.95. American Express was the leading stock among the 30 that make up the average, gaining 1.2 percent. 

It was a similar story on Tuesday, when the Dow flitted above 13,000 three times but ended the day lower. The average hasn't closed above 13,000 since May 19, 2008. 

What will it take for the Dow to close above 13,000 and stay there? Mark Lamkin, CEO of Lamkin Wealth Management in Louisville, Ky., said it would require a surprising news event, like a huge merger or an economic report that blows past expectations. 

"It needs some type of surprise, a bombshell," Lamkin said. "We've had a pretty good run over the past four months. Now it's going to take something great to keep it above 13,000." 

The two economic reports out Friday didn't make the cut. 

A consumer sentiment index taken by the University of Michigan and Reuters edged up in February to its highest level in a year. And the Commerce Department reported that sales of new homes dipped slightly in January, but the figure still topped economists' estimates. It also said sales in the final three months of 2011 were higher than previously reported. 

"The numbers are just OK," Lamkin said. "They weren't bad, but they weren't great, either." 

In other trading, the Nasdaq composite index rose 6.77 points to 2,963.75. 

Oil prices hit a nine-month high of $109.77 a barrel. The price of oil has jumped 10 percent this month amid rising concerns about a conflict with Iran. 

The euro added a penny against the dollar, hitting $1.346, its highest since Dec. 5. Greece made a formal offer to creditors to swap their Greek government bonds for new ones, another step toward knocking $142 billion off its debts. The swap is part of a deal to prevent Greece from defaulting on a debt payment due next month. 

Stock indexes have been climbing since November as European officials redoubled their efforts to contain the region's debt crisis and the European Central Bank extended cheap loans to troubled banks. The S&P 500 index has gained 8.6 percent to start 2012, better than its long-term annual average gain. 

In contrast to the volatile trading of late last year, the market's gains have been small but steady. To Lamkin, the lack of large swings looks ominous. The world is still full of dangers, he said. Lamkin tells his clients that the top risks are another flare-up in the European debt crisis and a war between Israel and Iran. 

"When the next big thing happens, and it will, you're going to see a pullback," he said. "I think we're due." 

Among stocks making big moves: 

— Sprint Nextel Corp. lost 2 percent. The country's largest cable company, Comcast, filed a suit against Sprint Nextel, alleging that it was violating Comcast's patents. 

— Gap fell 4 percent. The clothing retailer reported a 40 percent plunge in quarterly profit after the market closed Thursday. Gap said higher costs and deep discounts weighed on its revenue. 

— Deckers Outdoor Corp. sank 14 percent after the maker of Ugg boots and Teva footwear said higher costs will lead to lower profits for the quarter and full year. 

— Kenneth Cole Production Inc. soared 18 percent to $15.49 on news that Kenneth Cole is offering to buy the rest of the company. Cole currently holds about 47 percent of the company and has offered would give stockholders $15 per share, a 15 percent premium to the company's Thursday closing price. 


8687


----------



## bigdog

Source: http://finance.yahoo.com 

The Dow Jones industrial average narrowly missed 13,000. Again. 

A burst of selling at the closing bell drove the Dow lower after it hovered around the milestone for most of the afternoon. The average finished the day about 19 points shy of the mark. 

The Dow broke through 13,000 several times last week but hasn't closed above that level since May 19, 2008, four months before the fall of Lehman Brothers investment bank and the worst of the financial crisis. 

For the day, the Dow lost 1.44 points and closed at 12,981.51. The Standard & Poor's 500 index rose 1.85 points to 1,367.59, a 3 ½-year high. The Nasdaq composite index rose 2.41 points to close at 2,966.16. 

The Dow fell 100 points at the open Monday, then climbed back above 13,000 after a report that the number of Americans who signed contracts to buy homes rose in January to the highest in almost two years. 

The National Association of Realtors said its index of sales agreements rose 2 percent last month to a reading of 97, the highest since April 2010. A reading of 100 is considered healthy. 

Financial stocks led the industries gaining ground Monday. They rose 0.9 percent as a group. All nine of the other industry groups in the S&P 500 finished with small gains or narrow losses. 

 *The NYSE DOW closed  	LOWER ▼	-1.44	points or ▼	-0.01%	Monday, 27 February 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,981.51	▼	-1.44	▼	-0.01%	
	Nasdaq___	2,966.16	▲	2.41	▲	0.08%	
	S&P_500__	1,367.59	▲	1.85	▲	0.14%	
	30_Yr_Bond	3.042	▼	-0.06	▼	-1.81%	

NYSE Volume	 3,492,574,750 			 		 	
Nasdaq Volume	 1,761,845,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,915.55	▼	-19.58	▼	-0.33%	
	DAX_____	6,849.60	▼	-14.83	▼	-0.22%	
	CAC_40__	3,441.45	▼	-25.58	▼	-0.74%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,354.50	▼	-34.50	▼	-0.79%	
	Shanghai_Comp	2,447.06	▲	7.43	▲	0.30%	
	Taiwan_Weight	7,959.34	▲	22.04	▲	0.28%	
	Nikkei_225____	9,633.93	▼	-13.45	▼	-0.14%	
	Hang_Seng____	21,217.86	▲	53.93	▼	-0.88%	
	Strait_Times___	2,946.78	▼	-31.30	▼	-1.05%	

http://finance.yahoo.com/news/close-not-quite-dow-push-212340003.html

*Close but not quite for the Dow in push for 13,000

Housing news helps stock market erase early losses, but Dow finishes shy of 13,000 again*
By Joshua Freed, AP Business Writer 

The Dow Jones industrial average narrowly missed 13,000. Again. 

A burst of selling at the closing bell drove the Dow lower after it hovered around the milestone for most of the afternoon. The average finished the day about 19 points shy of the mark. 

The Dow broke through 13,000 several times last week but hasn't closed above that level since May 19, 2008, four months before the fall of Lehman Brothers investment bank and the worst of the financial crisis. 

For the day, the Dow lost 1.44 points and closed at 12,981.51. The Standard & Poor's 500 index rose 1.85 points to 1,367.59, a 3 ½-year high. The Nasdaq composite index rose 2.41 points to close at 2,966.16. 

The Dow fell 100 points at the open Monday, then climbed back above 13,000 after a report that the number of Americans who signed contracts to buy homes rose in January to the highest in almost two years. 

The National Association of Realtors said its index of sales agreements rose 2 percent last month to a reading of 97, the highest since April 2010. A reading of 100 is considered healthy. 

Financial stocks led the industries gaining ground Monday. They rose 0.9 percent as a group. All nine of the other industry groups in the S&P 500 finished with small gains or narrow losses. 

Scott Wren, senior equity strategist for Wells Fargo Advisors in St. Louis, said investors have gotten ahead of themselves since October. The S&P 500 is up 8.8 percent this year alone. 

He said he thinks U.S. economic growth is likely to be a mild 2 percent this year, there are fewer people working now than there were at the end of 2007, and Europe may be in a recession. 

"I don't see any reason for the market to be on some incredible run," he said. 

The price of oil fell below $109 a barrel as investors booked profits after a 14 percent gain this month driven by signs of an improving U.S. economy and fears of an Iranian supply cut. Benchmark crude fell by $1.21 to end the day at $108.56 per barrel in New York. 

Brent crude, which is used to price oil that's imported by U.S. refineries, lost $1.30 to finish at $124.17 per barrel in London. 

Government figures show that growth in demand for crude oil has slowed in the U.S. from a year earlier, although some oil traders are betting a strengthening economy will eventually boost consumption. 

"Four dollar gas, that's not going to really shut down the economy," Wren said. "$5, $6 gas, that's a different story." 

The average U.S. price of a gallon of gasoline has jumped 18 cents over the past two weeks, with a gallon of regular at $3.70. 

Overseas markets fell slightly because of worries about high oil prices. Stocks fell 0.3 percent in Britain, 0.2 percent in Germany and 0.7 percent in France. 

The European debt crisis is also still a lingering concern. Finance ministers from the world's 20 leading economies said that they would not add money to the International Monetary Fund until the European Union puts up more money to stave off its debt crisis. 

Earlier in Asia, Japan's Nikkei 225 index ended down 0.1 percent at 9,633.9, giving up gains posted earlier in the day. Hong Kong's Hang Seng fell 0.8 percent to 21,217.86 and South Korea's Kospi lost 1.4 percent to 1,991.16. 

Other commodities rose, including a 1.2 percent rise in wheat prices in Chicago. Soybeans topped $13 a bushel for the first time in five months. Global soybean supplies are tight, and hot, dry weather has damaged crops in Brazil and Argentina. 

Among U.S. stocks making moves: 

”” Cooper Tire & Rubber Company Co. rose 13.9 percent after it said net income more than quadrupled in the fourth quarter, mostly because of a large tax-related gain. 

”” Chipmaker Micron Technology Inc. rose 7.7 percent after a Japanese rival company filed for bankruptcy protection. 

”” Warren Buffett's Berkshire Hathaway Inc. rose 0.3 percent after the investor, known as the Oracle of Omaha, said the company has a successor in mind, plus two backups. Berkshire has not named those executives. 

”” Netflix stock fell 2.2 percent after a downgrade by an analyst at Raymond James. 

”” Shares of Sprint Nextel Corp. rose 3.2 percent after reports that its board rejected a purchase of MetroPCS Communications. MetroPCS fell 1.5 percent. 

”” Lowe's, the home improvement chain, rose 0.7 percent after reporting a 13 percent jump in fourth-quarter profits.


----------



## bigdog

Source: http://finance.yahoo.com 

The Dow Jones industrial average on Tuesday reclaimed the last of the ground it held before the carnage of the Great Recession ”” bailouts, bank failures, layoffs by the million and a stock market panic that cut retirement savings in half. 

The Dow closed above 13,000 for the first time since May 19, 2008, almost four months before the fall of the Lehman Brothers investment bank triggered the worst of the financial crisis. 

It just cleared the mark ”” 13,005.12, up 23.61 points for the day. 

"I think it's a momentous day for investor confidence," said Jack Ablin, chief investment officer at Harris Private Bank. "What this number implies is that the financial crisis that we were all losing sleep over, it never happened, because now we're back." 

The average first pierced 13,000 last Tuesday but fell back by the close. It floated above hte milestone again on Friday and Monday, but slipped below both days. A strong rally for stocks this year seemed stalled as worry built on Wall Street about climbing prices for oil and gasoline. 

But on Tuesday, the Dow got the final push from a report that consumer confidence jumped in February to its highest level in a year. Improved perceptions of the job market made the difference. 

The report, which came out at 10 a.m., lifted the Dow over 13,000, and it stayed there for most of the day. 

"Two months ago, we were talking about a double-dip recession. Now consumer confidence is growing," said Ryan Detrick, senior technical strategist for Schaffer's Investment Research. "A major milestone like 13,000 wakes up a lot of investors who have missed a lot of this rally." 

The breaking of the 13,000 barrier continues a remarkable run for stocks this year. The Dow started with its best January since 1997 and has added to that gain. The index is up 6.5 percent for the young year. 

Other averages have fared even better: The Standard & Poor's 500 is up 9 percent, the Russell 2000 index of smaller stocks is up 11 percent, and the Nasdaq composite index, dominated by technology stocks, is up 14 percent. 

 *The NYSE DOW closed  	HIGHER ▲	23.61	points or ▲	0.18%	Tuesday, 28 February 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,005.12	▲	23.61	▲	0.18%	
	Nasdaq___	2,986.76	▲	20.60	▲	0.69%	
	S&P_500__	1,372.18	▲	4.59	▲	0.34%	
	30_Yr_Bond	3.059	▲	0.02	▲	0.56%	

NYSE Volume	 3,526,408,500 			 		 	
Nasdaq Volume	 1,811,560,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,927.91	▲	12.36	▲	0.21%	
	DAX_____	6,887.63	▲	38.03	▲	0.56%	
	CAC_40__	3,453.99	▲	12.54	▲	0.36%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,351.20	▼	-3.30	▼	-0.08%	
	Shanghai_Comp	2,451.86	▲	4.80	▲	0.20%	
	Taiwan_Weight	7,959.34	▲	22.04	▲	0.28%	
	Nikkei_225____	9,722.52	▲	88.59	▲	0.92%	
	Hang_Seng____	21,568.73	▲	53.93	▲	1.65%	
	Strait_Times___	2,969.73	▲	22.95	▲	0.78%	

http://finance.yahoo.com/news/dow-closes-above-13-000-210820928.html

*Dow closes above 13,000, first time since crisis

Dow Jones industrials, riding economic strength, close above 13,000 for first time since 2008*

By Daniel Wagner, AP Business Writer

The Dow Jones industrial average on Tuesday reclaimed the last of the ground it held before the carnage of the Great Recession ”” bailouts, bank failures, layoffs by the million and a stock market panic that cut retirement savings in half. 

The Dow closed above 13,000 for the first time since May 19, 2008, almost four months before the fall of the Lehman Brothers investment bank triggered the worst of the financial crisis. 

It just cleared the mark ”” 13,005.12, up 23.61 points for the day. 

"I think it's a momentous day for investor confidence," said Jack Ablin, chief investment officer at Harris Private Bank. "What this number implies is that the financial crisis that we were all losing sleep over, it never happened, because now we're back." 

The average first pierced 13,000 last Tuesday but fell back by the close. It floated above hte milestone again on Friday and Monday, but slipped below both days. A strong rally for stocks this year seemed stalled as worry built on Wall Street about climbing prices for oil and gasoline. 

But on Tuesday, the Dow got the final push from a report that consumer confidence jumped in February to its highest level in a year. Improved perceptions of the job market made the difference. 

The report, which came out at 10 a.m., lifted the Dow over 13,000, and it stayed there for most of the day. 

"Two months ago, we were talking about a double-dip recession. Now consumer confidence is growing," said Ryan Detrick, senior technical strategist for Schaffer's Investment Research. "A major milestone like 13,000 wakes up a lot of investors who have missed a lot of this rally." 

The breaking of the 13,000 barrier continues a remarkable run for stocks this year. The Dow started with its best January since 1997 and has added to that gain. The index is up 6.5 percent for the young year. 

Other averages have fared even better: The Standard & Poor's 500 is up 9 percent, the Russell 2000 index of smaller stocks is up 11 percent, and the Nasdaq composite index, dominated by technology stocks, is up 14 percent. 

The other major indexes sit at multi-year highs as well. The S&P closed Tuesday at its highest level since June 2008, and the Nasdaq has not traded so high since December 2000, during the bursting of the bubble in technology stocks. 

Just last August, the Dow dropped 2,000 points in three frightening weeks. Investors were worried about the European debt crisis, gridlock in Washington over the federal borrowing limit, a downgrade of the U.S. credit rating and the threat of another recession. 

After Labor Day, the recession fears melted away. Since then, the stock market has been engaged in a tug-of-war between optimism over the improving American economy and fear that crisis in Europe would derail the U.S. recovery. 

The optimists have been winning. 

The Dow cruised to 13,000 the old-fashioned way, riding the economy higher. The unemployment rate has come down five months in a row, the first time that has happened since 1994. 

The economy added 243,000 jobs in January, one of the three best months since 2006. Gains were surprisingly robust in industries across the economy, including the strongest hiring in manufacturing in a year. 

In the stock market, the improving economy has translated to slow, steady gains ”” about 20 points a day for the Dow, averaged over the eight weeks. The index has gained more than 100 points on only three days, and it has not fallen 100 points on any day. 

Seven of the 10 industry groups within the S&P 500 index were higher, with information technology and consumer discretionary stocks leading the way. Utility stocks, traditionally solid investments in a weak economy, were lower. 

The Dow first cracked 13,000 on April 25, 2007, when the unemployment rate was 4.5 percent, far below today's 8.3 percent, and the economy was growing at a relatively healthy clip. 

From there, it was a quick ride to the Dow's all-time high. The average crossed 14,000 in July 2007, then peaked at 14,164.53 on Oct. 9, 2007. Concerns about weak corporate earnings and tighter credit were already haunting the market, though. 

The trip back down to 13,000 was less pleasant. It took little more than a month. Ten months later came the fall of Lehman Brothers investment bank and the financial meltdown. The Dow hit bottom on March 9, 2009, at 6,547.05. 

Analysts say the stock market has grown accustomed to lingering threats this year, including a debt crisis in Europe and an economic recovery in the United States that is still not as strong as economists would like. 

The price of gasoline has emerged as the latest worry. A gallon of regular costs $3.72 on average. The price has risen 21 days in a row. Economists worry about whether gas will climb high enough to cut into consumer spending in the rest of the economy. 

John Manley, chief equity strategist for Wells Fargo's funds group, said investors haven't forgotten the "black swans" surrounding the market ”” a term traders use for events outside of what is normally predicted. 

"We know that profits eventually have to come down, we know that something will happen in the Middle East, we know that Greece isn't going to do everything it says it's going to do. We're seeing black swans everywhere," Manley said. 

He added: "But these issues have been around for a while."


----------



## bigdog

Source: http://finance.yahoo.com 

The Nasdaq composite index briefly touched 3,000 on Wednesday for the first time since the collapse in dot-com stocks more than a decade ago. Stocks ended lower, but it was still the best February on Wall Street in 14 years. 

The milestone for the Nasdaq, heavy with technology stocks, came a day after the Dow Jones industrial average closed above 13,000 for the first time since May 2008. 

Apple, the Nasdaq's biggest component, topped $500 billion in market value, the only company above the half-trillion mark and only the sixth in U.S. corporate history to grow so big. Apple might reveal its next iPad model next week. 

The Nasdaq last hit 3,000 on Dec. 13, 2000. Its last close above 3,000 was two days earlier. It was only above 3,000 for seconds on Wednesday before closing down 19.87 points at 2,966.89. 

The Dow lost 53.05 to close at 10,952.07. The Standard & Poor's 500 index lost 6.50 points to close at 2,966.89. 

For the month, the Dow gained 2.5 percent, the S&P 4.1 percent and the Nasdaq 5.4 percent. The last time the stock market had such a strong February was in 1998, when the S&P gained 7 percent. 

Stocks opened higher after the government said that the economy grew faster at the end of last year than previously estimated ”” a 3 percent annual rate, the best reading since the spring of 2010. 

Stocks fell sharply after about an hour, then recovered by mid-afternoon, after the Federal Reserve's survey of regional economic conditions said the economy strengthened in the first six weeks of the year. 

They turned negative after Federal Reserve Chairman Ben Bernanke testified on Capitol Hill that the economy has performed better than expected in recent months. He said gas prices will add to inflation and unemployment is falling faster than expected. 

 *The NYSE DOW closed  	LOWER ▼	-53.05	points or ▼	-0.41%	Wednesday, 29 February 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,952.07	▼	-53.05	▼	-0.41%	
	Nasdaq___	2,966.89	▼	-19.87	▼	-0.67%	
	S&P_500__	1,365.68	▼	-6.50	▼	-0.47%	
	30_Yr_Bond	3.086	▲	0.03	▲	0.88%	

NYSE Volume	 4,389,822,500 			 		 	
Nasdaq Volume	 2,165,513,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,871.51	▼	-56.40	▼	-0.95%	
	DAX_____	6,856.08	▼	-31.55	▼	-0.46%	
	CAC_40__	3,452.45	▼	-1.54	▼	-0.04%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,388.10	▲	36.90	▲	0.85%	
	Shanghai_Comp	2,428.49	▼	-23.37	▼	-0.95%	
	Taiwan_Weight	8,121.44	▲	162.10	▲	2.04%	
	Nikkei_225____	9,723.24	▲	0.72	▲	0.01%	
	Hang_Seng____	21,680.08	▲	53.93	▲	0.52%	
	Strait_Times___	2,994.06	▲	24.33	▲	0.82%	

http://finance.yahoo.com/news/nasdaq-cracks-3-000-stocks-210746581.html

*Nasdaq cracks 3,000, but stocks fall

Nasdaq hits 3,000; stocks fall on last day of best February in 14 years*

By Daniel Wagner, AP Business Writer 

The Nasdaq composite index briefly touched 3,000 on Wednesday for the first time since the collapse in dot-com stocks more than a decade ago. Stocks ended lower, but it was still the best February on Wall Street in 14 years. 

The milestone for the Nasdaq, heavy with technology stocks, came a day after the Dow Jones industrial average closed above 13,000 for the first time since May 2008. 

Apple, the Nasdaq's biggest component, topped $500 billion in market value, the only company above the half-trillion mark and only the sixth in U.S. corporate history to grow so big. Apple might reveal its next iPad model next week. 

The Nasdaq last hit 3,000 on Dec. 13, 2000. Its last close above 3,000 was two days earlier. It was only above 3,000 for seconds on Wednesday before closing down 19.87 points at 2,966.89. 

The Dow lost 53.05 to close at 10,952.07. The Standard & Poor's 500 index lost 6.50 points to close at 2,966.89. 

For the month, the Dow gained 2.5 percent, the S&P 4.1 percent and the Nasdaq 5.4 percent. The last time the stock market had such a strong February was in 1998, when the S&P gained 7 percent. 

Stocks opened higher after the government said that the economy grew faster at the end of last year than previously estimated ”” a 3 percent annual rate, the best reading since the spring of 2010. 

Stocks fell sharply after about an hour, then recovered by mid-afternoon, after the Federal Reserve's survey of regional economic conditions said the economy strengthened in the first six weeks of the year. 

They turned negative after Federal Reserve Chairman Ben Bernanke testified on Capitol Hill that the economy has performed better than expected in recent months. He said gas prices will add to inflation and unemployment is falling faster than expected. 

Bernanke's remarks made it appear less likely that the Fed will begin another round of bond-buying to juice the economy. Bond-buying increases the money supply and could add to inflation, so signs of inflation make it a less appetizing option. And unemployment must remain high for the Fed to justify such an aggressive policy. 

U.S. Treasury debt plunged on speculation that the Fed wouldn't enter the market again. The yield on the 10-year Treasury note spiked to 2.02 percent during Bernanke's remarks, from 1.94 percent minutes earlier. It fell back to 1.97 percent. Bond yields rise as their prices fall. 

Materials and energy companies had the steepest losses of the S&P 500's 10 industry groups. Consumer products and financial companies rose modestly. 

The price of gold plunged $77 per ounce, the biggest one-day drop since September, as traders dialed back their expectations that the dollar would be weakened by another round of economic stimulus from the Fed. Gold settled at $1,711.30 an ounce , its lowest close since Jan. 25. Silver also fell sharply. 

The Nasdaq has gained 14.5 percent this year, compared with 6.4 percent for the Dow and 9.1 percent for the S&P 500. The Nasdaq already has risen almost as much this year as it did in all of 2010. It edged lower in 2011. 

The strength of tech stocks is no surprise when you consider the licking they took during last year's market gyrations. Tech stocks tend to be more risky and rise faster as investors regain confidence in the economy. 

The Nasdaq also is benefiting from long-term economic currents that could carry tech stocks even higher. Many companies put off replacing worn-out technology during the recession and now are investing again. 

There's also a growing global market for technology, and big tech companies face less competition these days when they try to acquire smaller ones. Established companies like IBM and Oracle can be picky about buying only companies that will increase their earnings. 

The gains have some analysts on the lookout for another tech bubble, like the one that yanked the Nasdaq from 5,132 in February 2000 down to 1,792 in October 2001. 

"It's justifiable to worry about exuberance," said Sam Stovall, chief equity strategist at S&P Capital IQ. But he said he expects the broad market to rise another 3 to 10 percent in the next few months before hitting a ceiling and correcting downward. 

"It's momentum, combined with too many investors on the sidelines," Stovall said. "As the market blows past these benchmarks, these investors selectively throw in the towel" and buy stocks whose prices are rising. 

In corporate news: 

”” DreamWorks Animation SKG Inc. plunged 12.2 percent after the maker of "Kung Fu Panda" said its fourth-quarter profit fell 71 percent on weak DVD sales. 

”” News Corp. rose 0.3 percent after James Murdoch stepped down as executive chairman of News International, the British newspaper arm at the center of a phone-hacking scandal. James is the youngest son of 80-year-old CEO Rupert Murdoch. 

”” Staples Inc. dropped 8.4 percent after the office supply retailer said international sales weakened in the fourth quarter. The company's outlook for 2012 was far weaker than analysts had expected.


----------



## bigdog

Source: http://finance.yahoo.com 

Banks dodged a big hit from the Greek debt crisis and rallied Thursday to lead the stock market higher. Strong retail sales and more encouraging news about the U.S. job market also helped stocks rise. 

The banks of the world are on the hook for as much as $70 billion in bond-insurance payments if Greece defaults on its debt. But a panel ruled that Greece's plan to restructure its debt should not trigger any insurance payments, at least not yet. 

Bank stocks pushed higher in relief. Goldman Sachs jumped 5.2 percent, and Morgan Stanley gained 3.5 percent. 

JPMorgan Chase and Bank of America were the top gainers in the Dow Jones industrial average. The Dow added 28 points to close at 12,980.30. That's a gain of 0.2 percent. 

In the latest sign of improvement in the job market, the number of people seeking unemployment benefits fell last week to the lowest point since March 2008. The four-week average was also the lowest in four years. 

Oil climbed $1.77 to $108.84 a barrel. The surging price of oil has weighed on investors' minds in recent weeks. Quincy Krosby, chief market strategist at Prudential Financial, said higher oil prices could eventually cause a sharp drop in the stock market. They could also give money managers an excuse to take some winnings off the table after the S&P 500 gained 9 percent over the past two months. 

 *The NYSE DOW closed  	HIGHER ▲	28.23	points or ▲	0.22%	Thursday, 1 March 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,980.30	▲	28.23	▲	0.22%	
	Nasdaq___	2,988.97	▲	22.08	▲	0.74%	
	S&P_500__	1,374.09	▲	8.41	▲	0.62%	
	30_Yr_Bond	3.157	▲	0.07	▲	2.30%	

NYSE Volume	 3,919,251,750 			 		 	
Nasdaq Volume	 1,911,682,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,931.25	▲	59.74	▲	1.02%	
	DAX_____	6,941.77	▲	85.69	▲	1.25%	
	CAC_40__	3,499.73	▲	47.28	▲	1.37%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,346.00	▼	-42.10	▼	-0.96%	
	Shanghai_Comp	2,426.11	▼	-2.37	▼	-0.10%	
	Taiwan_Weight	8,118.34	▼	-3.10	▼	-0.04%	
	Nikkei_225____	9,707.37	▼	-15.87	▼	-0.16%	
	Hang_Seng____	21,387.96	▲	53.93	▼	-1.35%	
	Strait_Times___	2,978.84	▼	-15.22	▼	-0.51%	

http://finance.yahoo.com/news/banks-lead-stock-rally-nasdaq-190453130.html

*Banks lead stock rally; Nasdaq nears 3,000

Banks rally after panel says Greek deal didn't trigger insurance payments; Nasdaq nears 3,000*

By Matthew Craft, AP Business Writer 

NEW YORK (AP) -- Banks dodged a big hit from the Greek debt crisis and rallied Thursday to lead the stock market higher. Strong retail sales and more encouraging news about the U.S. job market also helped stocks rise. 

The banks of the world are on the hook for as much as $70 billion in bond-insurance payments if Greece defaults on its debt. But a panel ruled that Greece's plan to restructure its debt should not trigger any insurance payments, at least not yet. 

Bank stocks pushed higher in relief. Goldman Sachs jumped 5.2 percent, and Morgan Stanley gained 3.5 percent. 

JPMorgan Chase and Bank of America were the top gainers in the Dow Jones industrial average. The Dow added 28 points to close at 12,980.30. That's a gain of 0.2 percent. 

In the latest sign of improvement in the job market, the number of people seeking unemployment benefits fell last week to the lowest point since March 2008. The four-week average was also the lowest in four years. 

Oil climbed $1.77 to $108.84 a barrel. The surging price of oil has weighed on investors' minds in recent weeks. Quincy Krosby, chief market strategist at Prudential Financial, said higher oil prices could eventually cause a sharp drop in the stock market. They could also give money managers an excuse to take some winnings off the table after the S&P 500 gained 9 percent over the past two months. 

"We're going to have a pullback at some point, because money managers want to lock in their profits," she said. "The catalyst could be these escalating oil prices." 

The drop in unemployment claims helped pushed Treasury yields up. The yield on the benchmark 10-year Treasury rose to 2.03 percent from 1.99 percent late Wednesday. 

The S&P 500 index rose 8.41 points to 1,374.09, its highest closing level since June 5, 2008. 

The Nasdaq composite index rose 22.08 points to 2,988.97. The Nasdaq briefly topped 3,000 for the first time in more than a decade Wednesday. 

The government also reported that consumers earned a little more in January and spent most of it. The Commerce Department said consumer spending increased 0.2 percent in January. Americans' income rose 0.3 percent, the second straight monthly increase. 

Costco Wholesale, Target Corp. and other retailers reported better than expected February sales, as more customers showed up to shop. 

In other news out Thursday, Ford, Honda and other automakers reported strong sales for February. Ford Motor Co. rose 2.3 percent after reporting a 14 percent sales gain. 

Among stocks making big moves: 

”” Gap soared 7.2 percent, the most in the S&P 500 index. The clothing retailer said a key sales figure rose 4 percent in February, helped by strong demand for spring clothing at its Banana Republic chain. Analysts had expected Gap's same-store sales to drop. 

”” Kroger gained 2.7 percent. The grocery store chain said its adjusted earnings beat analysts' expectations and it also raised its full-year earnings forecast. 

”” Sotheby's plunged 9.1 percent after the auction house reported earnings and revenues that were well below what Wall Street analysts were expecting.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market reached a couple of milestones this week ”” Dow 13,000 for the first time since 2008 and Nasdaq 3,000 for the first time since 2000 ”” but it didn't achieve much else. 

Stocks crept lower Friday, and the Dow Jones industrial average turned in its third losing week of the year. One of the few bright spots was Yelp, the online restaurant review site, which surged 64 percent in its debut. Yelp ended its first trading day at $24.58, far above its initial public offering price of $15. 

The Dow slipped 2.73 points to close at 12,977.57. It's down 5 points for the week. American Express Co. dropped 1 percent, the biggest fall among the 30 companies in the Dow. 

The Nasdaq composite index fell 12.78 points to 2,976.19, a loss of 0.4 percent. 

Both the Dow and Nasdaq fell below highs hit earlier this week. The Dow ended the trading day above 13,000 on Tuesday for the first time since May 2008. The Nasdaq composite index broke the 3,000 level Wednesday for the first time since 2000.

 *The NYSE DOW closed  	LOWER ▼	-2.73	points or ▼	-0.02%	Friday, 2 March 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,977.57	▼	-2.73	▼	-0.02%	
	Nasdaq___	2,976.19	▼	-12.78	▼	-0.43%	
	S&P_500__	1,369.63	▼	-4.46	▼	-0.32%	
	30_Yr_Bond	3.114	▼	-0.04	▼	-1.36%	

NYSE Volume	 3,346,329,500 			 		 	
Nasdaq Volume	 1,754,632,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,911.13	▼	-20.12	▼	-0.34%	
	DAX_____	6,921.37	▼	-20.40	▼	-0.29%	
	CAC_40__	3,501.17	▲	1.44	▲	0.04%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,364.10	▲	18.10	▲	0.42%	
	Shanghai_Comp	2,460.69	▲	34.58	▲	1.43%	
	Taiwan_Weight	8,144.04	▲	0.00	▲	0.00%	
	Nikkei_225____	9,777.03	▲	69.66	▲	0.72%	
	Hang_Seng____	21,562.26	▲	53.93	▲	0.81%	
	Strait_Times___	2,993.49	▲	14.65	▲	0.49%	

http://finance.yahoo.com/news/us-stocks-slip-yelp-jumps-214943053.html

*US stocks slip; Yelp jumps 64 percent after IPO

Dow posts a weekly drop, only its third this year; Yelp soars on its first day of trading*

By Matthew Craft, AP Business Writer

NEW YORK (AP) -- The stock market reached a couple of milestones this week ”” Dow 13,000 for the first time since 2008 and Nasdaq 3,000 for the first time since 2000 ”” but it didn't achieve much else. 

Stocks crept lower Friday, and the Dow Jones industrial average turned in its third losing week of the year. One of the few bright spots was Yelp, the online restaurant review site, which surged 64 percent in its debut. Yelp ended its first trading day at $24.58, far above its initial public offering price of $15. 

The Dow slipped 2.73 points to close at 12,977.57. It's down 5 points for the week. American Express Co. dropped 1 percent, the biggest fall among the 30 companies in the Dow. 

The Nasdaq composite index fell 12.78 points to 2,976.19, a loss of 0.4 percent. 

Both the Dow and Nasdaq fell below highs hit earlier this week. The Dow ended the trading day above 13,000 on Tuesday for the first time since May 2008. The Nasdaq composite index broke the 3,000 level Wednesday for the first time since 2000. 

These round numbers mean little to professional investors, said Brad Sorensen, director of market and sector analysis at Charles Schwab. But the media attention they generate may lure Americans back into the stock market, he said, and their savings could push indexes even higher. 

"We're a little more surprised there isn't more enthusiasm given the run we've had over the last couple of months," Sorensen said. "The individual retail investor has been reluctant to participate, but we're looking to them to fuel the next leg of this rally." 

The Standard & Poor's 500 index gained 8.6 percent in the first two months of this year, its best start since 1987. But Americans still pulled a total of $3.9 billion from U.S. stock funds over those two months, according to data from the Investment Company Institute. Most of their savings are going into taxable bond funds. 

Douglas Cote, chief market strategist at ING Investment Management, has been telling his clients to shift more money into stocks and corporate bonds as the U.S. economy improves and the greatest threats are fading away. The European Central Bank loaned $712 billion to the region's struggling banks at cheap rates this week, a move Cote believes will keep the European debt crisis from boiling over. 

"It takes the European debt crisis off the table," he said. "We've been counseling investors that it's time to get back in the market." 

In other trading Friday, the broader Standard & Poor's 500 index fell 4.46 points to 1,369.63. 

Sara Lee Corp. had the biggest gain in the index, up 7 percent, following news that its shareholders will get up to $4.5 billion in stock when the company spins off its international coffee and tea business later this year. 

Oil fell $2.14 to $106.70 a barrel after Iranian media reported an explosion at a Saudi Arabia pipeline. Saudi Arabia denied the report. The drop clobbered oil and gas stocks. Peabody Energy fell 6.5 percent, the most in the S&P 500. Alpha Natural Resources was close behind, losing 5.7 percent. 

Among other stocks making big moves: 

”” Trading in Wynn Resorts Ltd. was briefly halted after a regulatory filing was mistakenly made. The erroneous report said Wynn had made progress on a new resort in Macau, a gambling hub. Wynn Resorts still gained 4.3 percent. 

”” Big Lots Inc. dropped 4 percent after the discount retail company lowered its earnings guidance below analysts' forecasts. 

”” Genesco Inc. gained 4.3 percent. The clothing company raised its 2013 earnings outlook above analysts' estimates. Genesco also reported quarterly earnings that topped expectations. 

”” CVR Energy Inc. fell 2 percent after the Texas oil refiner rejected a $2.6 billion hostile takeover bid from the billionaire investor Carl Icahn. 



9471


----------



## bigdog

Source: http://finance.yahoo.com 

Two signs of trouble elsewhere in the world pushed U.S. stocks lower: slowing economic growth in China and a possible hitch in a deal to get Greece its bailout money. 

The Dow Jones industrial average closed the day down 14.76 points to 12,962.81, or down 0.1 percent. The Dow closed above 13,000 last week for the first time since May 2008. 

Monday was the 45th consecutive trading day without a loss of 100 points or more for the Dow. The last streak longer than that was 93 trading days from July 17 to Nov. 24, 2006. 

Much of the pessimism in the market stemmed from China's premier, Wen Jiabao, lowering China's target rate for economic growth to 7.5 percent from 8 percent, where it has stood for years. That's a negative sign because growth in China has been a key factor shoring up the global economy since the financial crisis of 2008. 

The news sent steel company stocks sharply lower. Half of the world's steel is consumed in China. AK Steel Holding Corp. lost 6 percent, while US Steel fell 4.7 percent. 

The lower projection for Chinese growth also hurt stocks of U.S. materials companies that depend on China for profits. Caterpillar, which makes heavy equipment, fell 2.1 percent. Alcoa, the aluminum maker, fell 3.6 percent. 

The Dow fell as much as 93 points in the morning before recouping some of that loss in the afternoon. Some market strategists said it was an overreaction to read too much into China's projection. 

 *The NYSE DOW closed  	LOWER ▼	-14.76	points or ▼	-0.11%	Monday, 5 March 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,962.81	▼	-14.76	▼	-0.11%	
	Nasdaq___	2,950.48	▼	-25.71	▼	-0.86%	
	S&P_500__	1,364.33	▼	-5.30	▼	-0.39%	
	30_Yr_Bond	3.139	▲	0.03	▲	0.80%	

NYSE Volume	 3,405,701,750 			 		 	
Nasdaq Volume	 1,677,286,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,874.82	▼	-36.31	▼	-0.61%	
	DAX_____	6,866.46	▼	-54.91	▼	-0.79%	
	CAC_40__	3,487.54	▼	-13.63	▲	0.04%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,354.20	▼	-9.90	▼	-0.23%	
	Shanghai_Comp	2,445.00	▼	-15.69	▼	-0.64%	
	Taiwan_Weight	8,004.74	▼	-109.70	▼	-1.35%	
	Nikkei_225____	9,698.59	▼	-78.44	▼	-0.80%	
	Hang_Seng____	21,265.31	▲	53.93	▼	-1.38%	
	Strait_Times___	2,991.80	▼	-1.69	▼	-0.06%	

http://finance.yahoo.com/news/stocks-edge-lower-worries-china-210847319.html

*Stocks edge lower on worries about China, Greece

Worries over Chinese growth, Greece's bond deal push US stocks lower*

By Pallavi Gogoi

NEW YORK (AP) -- Two signs of trouble elsewhere in the world pushed U.S. stocks lower: slowing economic growth in China and a possible hitch in a deal to get Greece its bailout money. 

The Dow Jones industrial average closed the day down 14.76 points to 12,962.81, or down 0.1 percent. The Dow closed above 13,000 last week for the first time since May 2008. 

Monday was the 45th consecutive trading day without a loss of 100 points or more for the Dow. The last streak longer than that was 93 trading days from July 17 to Nov. 24, 2006. 

Much of the pessimism in the market stemmed from China's premier, Wen Jiabao, lowering China's target rate for economic growth to 7.5 percent from 8 percent, where it has stood for years. That's a negative sign because growth in China has been a key factor shoring up the global economy since the financial crisis of 2008. 

The news sent steel company stocks sharply lower. Half of the world's steel is consumed in China. AK Steel Holding Corp. lost 6 percent, while US Steel fell 4.7 percent. 

The lower projection for Chinese growth also hurt stocks of U.S. materials companies that depend on China for profits. Caterpillar, which makes heavy equipment, fell 2.1 percent. Alcoa, the aluminum maker, fell 3.6 percent. 

The Dow fell as much as 93 points in the morning before recouping some of that loss in the afternoon. Some market strategists said it was an overreaction to read too much into China's projection. 

"China is still a driver of global growth, even at its slightly reduced pace," said Richard Cripps, chief market strategist at Stifel Nicolaus. "The growth rate is still far better than the U.S. and Europe." 

The Standard & Poor's 500 dropped 5.30 points, or 0.4 percent, to 1,364.33. 

The Nasdaq composite index fell 25.71 points, or 0.9 percent, to 2,950.48. The technology-heavy Nasdaq index fell slightly more than the other indexes as its star stocks Apple fell 2.2 percent and Google fell close to 1.1 percent. 

Also weighing on the market were worries that not enough private investors will participate in a bond swap in Greece and accept bonds of lower face value and lower returns. 

Trying to reassure world markets, a group representing a dozen banks, insurers and investment funds that hold Greek government bonds said they will participate in the swap by the Thursday night deadline. 

Greece needs private investors to sign on before it gets a second international bailout worth $172 billion. Without the bailout, it could default on its debt later this month, an event many fear could shock the world financial system. 

The stock market's losses were limited by some positive news from the U.S. economy. Service companies expanded in February at the fastest pace in a year, helped by a rise in orders and job growth. 

The Institute for Supply Management said Monday that its index of non-manufacturing activity rose to 57.3, up from 56.8 in January and the third straight increase. Any reading above 50 indicates expansion. 

In recent months, markets have been lifted by signs of improvement in the U.S. economy. U.S. stock indexes have been trading at their highest levels since before the collapse of the Lehman Brothers investment bank in 2008. 

Among other stocks making big moves: 

”” Alpha Natural Resources, a coal producer, fell 6 percent after the price of natural gas fell close to 5 percent due to weak demand for gas in a mild winter. 

”” Archipelago Learning stock soared 22.7 percent after the online education company agreed to be bought by Plato Learning for $291 million in cash, helping boost the number of customers. 

”” US Airways Group fell 8.4 percent after the airline said passenger revenue growth slowed in February, indicating it is having a tough time raising fares and fees to offset climbing oil prices. 

”” American International Group rose close to 2 percent. AIG will raise $6 billion by selling part of its stake in an Asian insurance company and pay down some of its debt to the U.S. government from a bailout during the financial crisis. AIG owed $50 billion at the end of 2011.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks suffered their biggest losses in three months Tuesday, the first hiccup in a strong and steady rally to start the year. Wall Street worried about the global economy and waited while Greece pressured the last investors to sign on for its bailout. 

The Dow Jones industrial average fell more than 200 points, giving up more than a quarter of its 745-point advance since Jan. 1, the best start to a year in the U.S. market since 1998. 

The sell-off, which spread west from Europe, also interrupted a period of unusual calm on Wall Street. Before Tuesday, the Dow had not fallen 100 points for 45 straight trading sessions, the longest streak since 2006. 

The decline of 203.66 points was the worst for the Dow since Nov. 23 and left the average at 12,759.15. It was only last week that the Dow closed above 13,000 for the first time since May 2008, four months before the worst of the financial crisis. 

"When things go straight up and don't ever correct or have some sort of normal pullback, as an investor, that makes me nervous," said Ed Hyland, a global investment specialist with J.P. Morgan Private Bank. 

The gradual rally had been powered by optimism about the U.S. economic recovery. But investors realized that Greece's debt problems, Europe's economic problems and Israel's Iran problems were still very much their problems, too. 

Stocks fell sharply from the opening bell and never mounted a serious comeback. The Dow was down as much as 227 points. All but one of the 30 stocks in the average finished the day lower. Intel managed a gain of 7 cents. 

All 10 industry groups in the Standard & Poor's 500 declined. Bank stocks, which typically take a hit when there is any reason to worry about Greece, led the declines, followed by industrial and materials companies, which depend on strength in the world economy. 	 						

 *The NYSE DOW closed  	LOWER ▼	-203.66	points or ▼	-1.57%	Tuesday, 6 March 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,759.15	▼	-203.66	▼	-1.57%	
	Nasdaq___	2,910.32	▼	-40.16	▼	-1.36%	
	S&P_500__	1,343.36	▼	-20.97	▼	-1.54%	
	30_Yr_Bond	3.080	▼	-0.06	▼	-1.94%	

NYSE Volume	 4,171,692,250 			 		 	
Nasdaq Volume	 1,870,041,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,765.80	▼	-109.02	▼	-1.86%	
	DAX_____	6,633.11	▼	-233.35	▼	-3.40%	
	CAC_40__	3,362.56	▼	-124.98	▼	-3.58%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,295.50	▼	-58.70	▼	-1.35%	
	Shanghai_Comp	2,410.45	▼	-34.56	▼	-1.41%	
	Taiwan_Weight	7,937.97	▼	-66.77	▼	-0.83%	
	Nikkei_225____	9,637.63	▼	-60.96	▼	-0.63%	
	Hang_Seng____	20,806.25	▲	53.93	▼	-2.16%	
	Strait_Times___	2,932.01	▼	-59.79	▼	-0.06%	

http://finance.yahoo.com/news/dow-falls-more-200-interrupting-191018555.html

*Dow falls more than 200, interrupting 2012 rally

Wall Street's not-so-super Tuesday: Dow falls 203 in worst drop this year*

By Joshua Freed, AP Business Writer 

Stocks suffered their biggest losses in three months Tuesday, the first hiccup in a strong and steady rally to start the year. Wall Street worried about the global economy and waited while Greece pressured the last investors to sign on for its bailout. 

The Dow Jones industrial average fell more than 200 points, giving up more than a quarter of its 745-point advance since Jan. 1, the best start to a year in the U.S. market since 1998. 

The sell-off, which spread west from Europe, also interrupted a period of unusual calm on Wall Street. Before Tuesday, the Dow had not fallen 100 points for 45 straight trading sessions, the longest streak since 2006. 

The decline of 203.66 points was the worst for the Dow since Nov. 23 and left the average at 12,759.15. It was only last week that the Dow closed above 13,000 for the first time since May 2008, four months before the worst of the financial crisis. 

"When things go straight up and don't ever correct or have some sort of normal pullback, as an investor, that makes me nervous," said Ed Hyland, a global investment specialist with J.P. Morgan Private Bank. 

The gradual rally had been powered by optimism about the U.S. economic recovery. But investors realized that Greece's debt problems, Europe's economic problems and Israel's Iran problems were still very much their problems, too. 

Stocks fell sharply from the opening bell and never mounted a serious comeback. The Dow was down as much as 227 points. All but one of the 30 stocks in the average finished the day lower. Intel managed a gain of 7 cents. 

All 10 industry groups in the Standard & Poor's 500 declined. Bank stocks, which typically take a hit when there is any reason to worry about Greece, led the declines, followed by industrial and materials companies, which depend on strength in the world economy. 

Alcoa, which makes aluminum and depends heavily on world economic demand, fell 4.1 percent, the worst of the Dow 30. China revised its projection for economic growth on Monday to 7.5 percent this year, down from 8 percent. 

The Standard & Poor's 500 index fell 20.97 points, its worst decline since Dec. 8, to 1,343.36. The S&P had not declined 1 percent or more for 45 straight trading days, also the longest streak since 2006. That year, the S&P put together 94 in a row. 

The Nasdaq composite index dropped 40.16 points to 2,910.32. The Nasdaq last week broke through 3,000 for the first time since December 2000, during the collapse in dot-com stocks. 

Last year, sell-offs like this were much more common. The S&P fell by at least 1 percent on 48 trading days, roughly one in every five. During the depths of the financial crisis in the last four months of 2008, it happened roughly one in every three days. 

Stocks fell more than 3 percent Tuesday in Germany, Spain and France, and 1.9 percent in Britain. Greece stepped up pressure on private investors to swap their Greek government bonds for replacements with a lower face value and interest rate. 

Major banks and investment funds have signed on for the swap, but it remains unclear whether hedge funds, which had already bought the bonds at a steep discount and may profit from bond insurance payouts if Greece defaults, will agree. The deadline is Thursday. 

The swap is vital for Greece to cut its debt and get a bailout of â‚¬130 billion, or $172 billion, from other countries and the International Monetary Fund. Without the bailout, Greece could default on its debt later this month and rattle markets around the world. 

Bill Stone, chief investment strategist for PNC Wealth Management, called Tuesday's decline "fairly rational," considering how much the market has climbed and the economic worries in Greece and the rest of Europe. 

"You need the pullback to give people opportunities to want to get involved again," Stone said. 

The price of oil slipped $2.02 to $104.70 per barrel on the New York Mercantile Exchange. New York crude has risen from $96 last month amid fears of a disruption in global oil supplies driven by the potential for military conflict with Iran. 

President Barack Obama said diplomacy can still resolve the crisis over Iran's possible pursuit of nuclear weapons and accused his Republican critics of "beating the drums of war." Iran dominated Obama's first news conference of the year. 

The price of gold fell $31.80 per ounce, or 2.1 percent, to $1,672.10 per ounce. Silver, platinum and copper all fell more than 2 percent because of concerns about Europe and weaker economic demand in China. 

"Global growth fears now are hitting home, and we're seeing selling across the board," said Matt Zeman, a market analyst for Kingsview Financial. 

Yields on U.S. government debt also fell as investors moved their money into what they perceive to be a safer asset. The yield on the benchmark 10-year Treasury note fell to 1.96 percent from 2.01 percent late Monday. Bond yields fall when their prices rise. 

Among stocks making big moves: 

”” Weight loss company Nutrisystem Inc. fell 10.9 percent after it reported a bigger-than-expected fourth-quarter loss and a disappointing outlook. 

”” General Motors fell 5.5 percent after saying it will pay â‚¬304 million, or $402 million, for a 7 percent stake in Peugeot, which will make it the French carmaker's second-largest shareholder after the Peugeot family. 

”” VeriFone Systems Inc. rose 7.9 percent after the maker of electronic payment systems predicted a bigger-than-expected 2012 profit. 

”” Apple fell 0.5 percent one day before the expected release of its iPad 3 tablet computer.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market reclaimed some losses from its biggest dive this year and returned Wednesday to its pattern of steady gains and stable trading. Reassuring reports on productivity and hiring overshadowed worries about the Greek debt crisis. 

Stock indexes made solid gains by mid-morning after the government said oil refineries are operating at a faster clip than economists had expected. Oil refiners Valero Energy Corp. and Tesoro Inc. were among the biggest gainers in the Standard & Poor's 500. 

The Dow Jones industrial average closed up 78.18 points, or 0.6 percent, at 12,837.33. The S&P 500 index gained 9.27, or 0.7 percent, to close at 1,352.63. The Nasdaq composite index added 25.37, or 0.9 percent, to close at 2,935.69. 

The Dow dived 203 points on Tuesday, the biggest hitch in a strong rally for stocks this year. Many market-watchers believe that stocks had risen too quickly and were due for a setback. Before Tuesday, the Dow was up more than 6 percent for 2012. 

"You wouldn't expect to get it all back in one day," said Jerry Webman, chief economist at OppenheimerFunds Inc. 

The average has gained more than 20 percent since last Oct. 3, and the rally has proved resilient. Tuesday was the eighth time during that stretch that the Dow fell more than 200 points. Each previous time, it made up most or all of its losses within days. 

Tuesday's sell-off was triggered by fears that not enough private investors would sign on to exchange their Greek government bonds for replacements with a lower face value and interest rate. 

Greece needs the investors to agree so it can secure an international bailout of â‚¬130 billion, or $171 billion, and avoid a default later this month that would rattle the world financial system. 

By Wednesday, owners of about half of Greece's privately held debt had agreed. Greece needs a 90 percent voluntary participation rate, but 70 percent could be enough for Greece to strong-arm the holdouts.  						

 *The NYSE DOW closed  	HIGHER ▲	78.18	points or ▲	0.61%	Wednesday, 7 March 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,837.33	▲	78.18	▲	0.61%	
	Nasdaq___	2,935.69	▲	25.37	▲	0.87%	
	S&P_500__	1,352.63	▲	9.27	▲	0.69%	
	30_Yr_Bond	3.116	▲	0.04	▲	1.23%	

NYSE Volume	 3,518,445,500 			 		 	
Nasdaq Volume	 1,588,215,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,791.41	▲	25.61	▲	0.44%	
	DAX_____	6,671.11	▲	38.00	▲	0.57%	
	CAC_40__	3,392.33	▲	29.77	▲	0.89%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,234.40	▼	-61.10	▼	-1.42%	
	Shanghai_Comp	2,394.79	▼	-15.65	▼	-0.65%	
	Taiwan_Weight	7,903.08	▼	-34.89	▼	-0.44%	
	Nikkei_225____	9,576.06	▼	-61.57	▼	-0.64%	
	Hang_Seng____	20,627.78	▲	53.93	▼	-0.86%	
	Strait_Times___	2,915.03	▼	-16.98	▼	-0.58%	

http://finance.yahoo.com/news/stocks-close-higher-day-big-211507538.html

*Stocks close higher a day after big dive

Stocks close up on economic reports and energy outlook a day after Dow's worst drop this year*

By Daniel Wagner, AP Business Writer

The stock market reclaimed some losses from its biggest dive this year and returned Wednesday to its pattern of steady gains and stable trading. Reassuring reports on productivity and hiring overshadowed worries about the Greek debt crisis. 

Stock indexes made solid gains by mid-morning after the government said oil refineries are operating at a faster clip than economists had expected. Oil refiners Valero Energy Corp. and Tesoro Inc. were among the biggest gainers in the Standard & Poor's 500. 

The Dow Jones industrial average closed up 78.18 points, or 0.6 percent, at 12,837.33. The S&P 500 index gained 9.27, or 0.7 percent, to close at 1,352.63. The Nasdaq composite index added 25.37, or 0.9 percent, to close at 2,935.69. 

The Dow dived 203 points on Tuesday, the biggest hitch in a strong rally for stocks this year. Many market-watchers believe that stocks had risen too quickly and were due for a setback. Before Tuesday, the Dow was up more than 6 percent for 2012. 

"You wouldn't expect to get it all back in one day," said Jerry Webman, chief economist at OppenheimerFunds Inc. 

The average has gained more than 20 percent since last Oct. 3, and the rally has proved resilient. Tuesday was the eighth time during that stretch that the Dow fell more than 200 points. Each previous time, it made up most or all of its losses within days. 

Tuesday's sell-off was triggered by fears that not enough private investors would sign on to exchange their Greek government bonds for replacements with a lower face value and interest rate. 

Greece needs the investors to agree so it can secure an international bailout of â‚¬130 billion, or $171 billion, and avoid a default later this month that would rattle the world financial system. 

By Wednesday, owners of about half of Greece's privately held debt had agreed. Greece needs a 90 percent voluntary participation rate, but 70 percent could be enough for Greece to strong-arm the holdouts. 

European markets and the euro rose slightly. Benchmark indexes finished 0.9 percent higher in France, 0.6 percent higher in Germany and 0.4 percent higher in Britain. The euro rose to $1.315 from $1.311 on Tuesday. 

Before the U.S. market opened, the government said workers were more efficient late last year, though productivity grew more slowly than in the summer. As productivity growth slows, businesses may need to hire more people to keep up with demand. 

A closely watched private estimate of hiring also exceeded economists' expectations. Payroll processor ADP said employers added 216,000 jobs last month. The result lifted hopes about the big February jobs report, which comes out Friday. 

Webman said the report will signal whether hiring is brisk enough to offset the economic drag of high gas prices. 

"There's a foot race between gas bills and paychecks," he said. "If we continue to print new paychecks at the rate we've been adding them, that mitigates a lot of the damage of higher gasoline prices." 

The economic optimism pushed prices for U.S. government debt lower and yields higher. The yield on the benchmark 10-year Treasury note rose to 1.98 percent from 1.95 percent late Tuesday. 

Among stocks making big moves Wednesday: 

”” Pandora Media Inc., an Internet radio company, dived 23.9 percent after its projected results for the first quarter badly missed analysts' estimates. 

”” Netflix fell 1.8 percent. Investors appeared unimpressed with a strategy, signaled by CEO Reed Hastings, of partnering with cable TV companies to expand Netflix's customer base. The video streaming and DVD-by-mail company has about 22 million online streaming subscribers in the U.S. 

”” American Eagle Outfitters rose 6.3 percent. The teen clothing retailer said it expects profit margins and sales to improve this year. Revenue at stores open at least a year rose 10 percent in the fourth quarter.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market posted substantial gains Thursday as Greece closed in on a deal to restructure its debt and avoid a default. That overshadowed a small increase in unemployment claims last week. 

The Dow Jones industrial average closed up 70.61 points, or 0.6 percent, at 12,907.94. Two days of solid gains have erased about three-quarters of the losses from Tuesday, when the Dow fell 203 points, its biggest loss of the year. 

The close left the Dow up 97 percent since March 9, 2009, its low point during the Great Recession. Last week, the Dow closed above 13,000 for the first time since May 2008. The Standard & Poor's 500 index has more than doubled in three years. 

On Thursday, the S&P 500 added 13.28 points, or 1 percent, to 1,365.91. It has gained 22.80 points since Tuesday, its best two days since December. All 10 industry groups rose, led by materials companies. 

The Nasdaq composite index rose 34.73 points, or 1.2 percent, to 2,970.42. 

A Greek government official told The Associated Press that more than 75 percent of investors in Greek bonds had agreed to exchange them for bonds with a lower face value and interest rate. 

Greece needs 90 percent of investors to participate to get a bailout of â‚¬130 billion, or about $173 billion, and avoid a default later this month that could rattle financial markets around the world. The Athens government will release final results Friday. 

The Greek crisis is "starting to wind down, we hope," said Paul Powers, head of U.S. equity sales trading for Raymond James. "It doesn't seem nearly as dire as it was a couple of weeks ago." 	 						

 *The NYSE DOW closed  	HIGHER ▲	70.61	points or ▲	0.55%	Thursday, 8 March 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,907.94	▲	70.61	▲	0.55%	
	Nasdaq___	2,970.42	▲	34.73	▲	1.18%	
	S&P_500__	1,365.91	▲	13.28	▲	0.98%	
	30_Yr_Bond	3.170	▲	0.05	▲	1.73%	

NYSE Volume	 3,525,994,500 			 		 	
Nasdaq Volume	 1,624,941,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,859.73	▲	68.32	▲	1.18%	
	DAX_____	6,834.54	▲	163.43	▲	2.45%	
	CAC_40__	3,478.36	▲	86.03	▲	2.54%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,262.20	▲	27.80	▲	0.66%	
	Shanghai_Comp	2,420.28	▲	25.48	▲	1.06%	
	Taiwan_Weight	7,984.56	▲	81.48	▲	1.03%	
	Nikkei_225____	9,768.96	▲	192.90	▲	2.01%	
	Hang_Seng____	20,900.73	▲	53.93	▲	1.32%	
	Strait_Times___	2,970.38	▲	57.22	▲	1.96%	

http://finance.yahoo.com/news/stocks-gain-greek-nears-deal-215922477.html

*Stocks gain as Greek nears a deal on debt swap

Stock markets rise as optimism builds about Greek debt exchange; investors shrug off jobs data*

By Eileen Aj Connelly, AP Business Writer

NEW YORK (AP) -- The stock market posted substantial gains Thursday as Greece closed in on a deal to restructure its debt and avoid a default. That overshadowed a small increase in unemployment claims last week. 

The Dow Jones industrial average closed up 70.61 points, or 0.6 percent, at 12,907.94. Two days of solid gains have erased about three-quarters of the losses from Tuesday, when the Dow fell 203 points, its biggest loss of the year. 

The close left the Dow up 97 percent since March 9, 2009, its low point during the Great Recession. Last week, the Dow closed above 13,000 for the first time since May 2008. The Standard & Poor's 500 index has more than doubled in three years. 

On Thursday, the S&P 500 added 13.28 points, or 1 percent, to 1,365.91. It has gained 22.80 points since Tuesday, its best two days since December. All 10 industry groups rose, led by materials companies. 

The Nasdaq composite index rose 34.73 points, or 1.2 percent, to 2,970.42. 

A Greek government official told The Associated Press that more than 75 percent of investors in Greek bonds had agreed to exchange them for bonds with a lower face value and interest rate. 

Greece needs 90 percent of investors to participate to get a bailout of â‚¬130 billion, or about $173 billion, and avoid a default later this month that could rattle financial markets around the world. The Athens government will release final results Friday. 

The Greek crisis is "starting to wind down, we hope," said Paul Powers, head of U.S. equity sales trading for Raymond James. "It doesn't seem nearly as dire as it was a couple of weeks ago." 

The rally came despite a report from the Labor Department that the number of people seeking unemployment benefits rose slightly more than expected last week. The four-week average remained near a four-year low. 

The government reports Friday on how many jobs the U.S. economy added in February and the unemployment rate. Economists expect 200,000 jobs were added. If the unemployment rate falls from 8.3 percent, it would be the sixth straight decline. 

"The trend here is that the job market has continued to grind higher, and I don't see any reason why tomorrow's number shouldn't be a good one," said Phil Orlando, chief equity market strategist at Federated Investors. 

He pointed to a private estimate of hiring released Wednesday that exceeded expectations, along with the unemployment claims figures, as good indicators for more positive news. 

Stocks rose around the world as optimism about the Greek debt deal took hold. In Europe, the FTSE 100 index of leading British stocks closed up 1.2 percent. Germany's DAX and the CAC-40 in France both gained 2.5 percent. 

The euro rose almost a penny and a half against the dollar, to $1.328. In another sign of investor confidence in Europe, the yields on government bonds of both Italy and Spain both fell. 

Asian markets also rallied, ending a three-day losing streak. Japan's Nikkei Stock Average climbed 2 percent, Hong Kong's Hang Seng jumped 1.3 percent and China's Shanghai Composite Index rose 1.1 percent. 

The prospect of a successful bond swap in Greece also helped push oil prices higher. Resolving the crisis would be good for the European economy, and demand could rise. Oil closed near $107 per barrel on the New York Mercantile Exchange. Gold prices also rose. 

The yield on the benchmark 10-year U.S. Treasury note rose to 2.01 percent from 1.98 percent late Wednesday. 

Brian Gendreau, market strategist for Cetera Financial Group, said that even if some of Greece's private investors reject the bond swap deal, the situation in Europe is clearly improving. 

"A year and a half ago, the idea that private bondholders would take a hit wasn't even on the table," Gendreau said. 

Gendreau said the market's response to a possible Greek default would not be as harsh as last year, when some wondered whether the euro might collapse. He would expect "fatigue and exasperation. But that's not the same as panic and crisis." 

Among stocks making big moves Tuesday: 

”” Coach Inc. jumped 4.6 percent after the luxury accessories maker said it is sticking to its long-term sales goals. 

”” McDonald's Corp. lost more than 3 percent after reporting slower growth in February. 

”” American International Group Inc. fell 1.1 percent after the U.S. government said it would sell $6 billion of the common stock it holds in the bailed-out insurer.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks closed modestly higher Friday after the government's monthly report on employment bolstered hopes that the economic recovery is on track. The gains were tempered by news that a big debt write-down by Greece could cause big losses for banks.

Three years after stocks hit bottom during the Great Recession, the Dow Jones industrial average rose 14 points and finished the week with a loss of 56. That was after a 203-point dive Tuesday, the worst drop this year.

The Dow was up more than 60 points Friday morning but lost ground in the afternoon after the trade group that oversees financial derivatives said Greece's bond-swap deal will trigger payouts on bond insurance.

The Dow finished up 14.08 points, or 0.1 percent, at 12,922.02. The Standard & Poor's 500 gained 4.96, or 0.4 percent, to 1,370.87. The Nasdaq composite average gained 17.92, or 0.6 percent, to 2,988.34.

The Dow has nearly doubled in the three years since its bottom during the financial crisis. On March 9, 2009, it closed at 6,547. The S&P 500 closed that day at 676.

The morning's gains were driven by news that employers added 227,000 jobs last month, finishing three of the best months for hiring since the recession began. The unemployment rate was unchanged at 8.3 percent because unemployed people started looking for work again, which increased the size of the labor force.

The hiring was spread across a range of industries, including business and professional services, leisure and hospitality and health care.

Later Friday, the International Swaps and Derivatives Association said it had determined that a massive bond-swap by Greece constituted a "credit event," meaning that holders of credit-default swaps on their Greek bonds will be able to claim insurance payments. Traders sold stocks on the news, fearing big losses for banks that had sold the insurance.

Greece convinced most of its private creditors to swap their bonds for new ones worth far less. The deal clears the way for a fresh bailout from Greece's neighbors. Fears of a disorderly Greek default have weighed on the market for two years			

 *The NYSE DOW closed  	HIGHER ▲	14.08	points or ▲	0.11%	Friday, 9 March 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,922.02	▲	14.08	▲	0.11%	
	Nasdaq___	2,988.34	▲	17.92	▲	0.60%	
	S&P_500__	1,370.87	▲	4.96	▲	0.36%	
	30_Yr_Bond	3.190	▲	0.02	▲	0.60%	

NYSE Volume	 3,639,469,250 			 		 	
Nasdaq Volume	 1,587,261,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,887.49	▲	27.76	▲	0.47%	
	DAX_____	6,880.21	▲	45.67	▲	0.67%	
	CAC_40__	3,487.48	▲	9.12	▲	0.26%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,300.50	▲	38.30	▲	0.90%	
	Shanghai_Comp	2,439.46	▲	19.19	▲	0.79%	
	Taiwan_Weight	8,016.01	▲	31.45	▲	0.39%	
	Nikkei_225____	9,929.74	▲	160.78	▲	1.65%	
	Hang_Seng____	21,086.00	▲	53.93	▲	0.89%	
	Strait_Times___	2,963.15	▼	-7.23	▼	-0.24%	

http://finance.yahoo.com/news/stocks-rise-modestly-february-jobs-203307882.html

*Stocks rise modestly on February jobs report

Stocks rise modestly on strong February jobs report; Greek default ruling tempers gains*

By Daniel Wagner, AP Business Writer

Stocks closed modestly higher Friday after the government's monthly report on employment bolstered hopes that the economic recovery is on track. The gains were tempered by news that a big debt write-down by Greece could cause big losses for banks.

Three years after stocks hit bottom during the Great Recession, the Dow Jones industrial average rose 14 points and finished the week with a loss of 56. That was after a 203-point dive Tuesday, the worst drop this year.

The Dow was up more than 60 points Friday morning but lost ground in the afternoon after the trade group that oversees financial derivatives said Greece's bond-swap deal will trigger payouts on bond insurance.

The Dow finished up 14.08 points, or 0.1 percent, at 12,922.02. The Standard & Poor's 500 gained 4.96, or 0.4 percent, to 1,370.87. The Nasdaq composite average gained 17.92, or 0.6 percent, to 2,988.34.

The Dow has nearly doubled in the three years since its bottom during the financial crisis. On March 9, 2009, it closed at 6,547. The S&P 500 closed that day at 676.

The morning's gains were driven by news that employers added 227,000 jobs last month, finishing three of the best months for hiring since the recession began. The unemployment rate was unchanged at 8.3 percent because unemployed people started looking for work again, which increased the size of the labor force.

The hiring was spread across a range of industries, including business and professional services, leisure and hospitality and health care.

Later Friday, the International Swaps and Derivatives Association said it had determined that a massive bond-swap by Greece constituted a "credit event," meaning that holders of credit-default swaps on their Greek bonds will be able to claim insurance payments. Traders sold stocks on the news, fearing big losses for banks that had sold the insurance.

Greece convinced most of its private creditors to swap their bonds for new ones worth far less. The deal clears the way for a fresh bailout from Greece's neighbors. Fears of a disorderly Greek default have weighed on the market for two years.

"There's a lot less imbalance and a lot less uncertainty than there was three years ago," said John Canally, investment strategist with LPL Financial Corp. Canally said the odds of another recession have been dropping as the economic recovery strengthens and becomes less vulnerable to shocks.

For the week, the Dow lost 55.55 points, or 0.4 percent. It was the second straight week of modest losses for the Dow, which closed above 13,000 last week for the first time since May 2008. 

Canally said investors should be prepared for the stock market's rally to fade after significant gains so far this year. He said his firm had slowed stock purchases because the market had gained as much in two months as he expected it to gain all year. The Dow is up 6 percent for the year, the S&P 500 9 percent.

European stocks added to their gains after the U.S. market opened. France's benchmark indexes closed 0.3 percent higher, Britain's 0.5 percent higher and Germany's 0.7 percent higher.

Also Friday, the Commerce Department said the U.S. trade deficit surged in January to the widest imbalance in more than three years as imports hit an all-time high, reflecting rising demand for foreign-made cars, computers and food products.

Exports to Europe fell, raising concerns that economic contraction across most of the continent will hurt U.S. corporate profits.

Some of the stocks that made big moves on Friday:

— Green Mountain Coffee Roasters Inc. plunged 16 percent after its larger rival, Starbucks Corp., said it will start selling single-cup coffee machines. That could deflate demand for Green Mountain's Keurig machines. Starbucks rose 3 percent.

— Texas Instruments fell 1 percent after the chipmaker lowered its forecast for revenue and earnings in the first quarter, blaming weaker demand for wireless products.

— Smith & Wesson Holding Corp. leaped 23 percent after the maker of guns and security systems beat analysts' expectations for third-quarter earnings and raised its full-year guidance.

0432


----------



## bigdog

Source: http://finance.yahoo.com 

U.S. stocks struggled for direction Monday, unsure of what to make of news about Greece's debt workout and eclectic announcements from a few well-known U.S. companies, such as mattress maker Sealy and luxury retailer Michael Kors. 

The Dow Jones industrial average and the Standard & Poor's 500 ended the day higher, but the Nasdaq fell. Both indexes wavered between small gains and losses for big chunks of the day. 

The Dow was the most stable, staying above Friday's close for all but a few minutes. The Dow closed up 37.69 points at 12,959.71. That marked four straight days of gains, only the second time that has happened so far this year. 

The Dow has now erased a nerve-wracking 204-point loss it suffered last Tuesday, when investors sent stocks lower over concerns about Greece. The Dow's trading range of 56.38 points was its narrowest in more than 11 months. 

The S&P 500 was virtually unchanged at day's end, up 0.22 points to 1,371.09. The Nasdaq fell 4.68 points to 2,983.66. 

"The market is going to continue to feel very schizophrenic," said Carol Pepper, CEO and founder of Pepper International, a money management firm in New York. "Some days it's depressed, some days it's excited, some days it's terrified." 

The 10 industry groups in the S&P 500 were evenly split between gainers and losers. Utilities, which tend to attract nervous investors because of their relative stability and generous dividends, rose the most. Markets in Europe were also divided. Germany did better than others, rising 0.3 percent. Greece fell 2.5 percent. 

The news out of Europe seemed only to make predictions on where the market is heading more foggy. Greece persuaded private investors to agree to big losses on their bond holdings, which should help the country stave off default later this month. But the country is still in a severe recession.  						

 *The NYSE DOW closed  	HIGHER ▲	37.69	points or ▲	0.29%	Monday, 12 March 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,959.71	▲	37.69	▲	0.29%	
	Nasdaq___	2,983.66	▼	-4.68	▼	-0.16%	
	S&P_500__	1,371.09	▲	0.22	▲	0.02%	
	30_Yr_Bond	3.170	▼	-0.02	▼	-0.60%	

NYSE Volume	 3,086,209,000 			 		 	
Nasdaq Volume	 1,343,738,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,892.75	▲	5.26	▲	0.09%	
	DAX_____	6,901.35	▲	21.14	▲	0.31%	
	CAC_40__	3,490.06	▲	2.58	▲	0.07%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,288.20	▼	-12.30	▼	-0.29%	
	Shanghai_Comp	2,434.86	▼	-4.60	▼	-0.19%	
	Taiwan_Weight	7,927.55	▼	-88.46	▼	-1.10%	
	Nikkei_225____	9,889.86	▼	-39.88	▼	-0.40%	
	Hang_Seng____	21,134.18	▲	53.93	▲	0.23%	
	Strait_Times___	2,962.18	▼	-0.97	▼	-0.03%	

http://finance.yahoo.com/news/schizophrenic-markets-shrug-off-greek-203628847.html

*'Schizophrenic' markets shrug off Greek deal

US markets are mixed even as completion of Greece's bailout deal nears; China's growth slows*

By Christina Rexrode, AP Business Writer 

NEW YORK (AP) -- U.S. stocks struggled for direction Monday, unsure of what to make of news about Greece's debt workout and eclectic announcements from a few well-known U.S. companies, such as mattress maker Sealy and luxury retailer Michael Kors. 

The Dow Jones industrial average and the Standard & Poor's 500 ended the day higher, but the Nasdaq fell. Both indexes wavered between small gains and losses for big chunks of the day. 

The Dow was the most stable, staying above Friday's close for all but a few minutes. The Dow closed up 37.69 points at 12,959.71. That marked four straight days of gains, only the second time that has happened so far this year. 

The Dow has now erased a nerve-wracking 204-point loss it suffered last Tuesday, when investors sent stocks lower over concerns about Greece. The Dow's trading range of 56.38 points was its narrowest in more than 11 months. 

The S&P 500 was virtually unchanged at day's end, up 0.22 points to 1,371.09. The Nasdaq fell 4.68 points to 2,983.66. 

"The market is going to continue to feel very schizophrenic," said Carol Pepper, CEO and founder of Pepper International, a money management firm in New York. "Some days it's depressed, some days it's excited, some days it's terrified." 

The 10 industry groups in the S&P 500 were evenly split between gainers and losers. Utilities, which tend to attract nervous investors because of their relative stability and generous dividends, rose the most. Markets in Europe were also divided. Germany did better than others, rising 0.3 percent. Greece fell 2.5 percent. 

The news out of Europe seemed only to make predictions on where the market is heading more foggy. Greece persuaded private investors to agree to big losses on their bond holdings, which should help the country stave off default later this month. But the country is still in a severe recession. 

Jeff Sica, president and chief investment officer of SICA Wealth Management in Morristown, N.J., said Greece is only a distraction from other deep-rooted problems throughout Europe, including brewing debt burdens in Portugal and Italy. Presidential elections in France add another layer of uncertainty because a new leader could backpedal on fiscal commitments made by President Nicolas Sarkozy. 

The struggling European countries also can't cut spending, which they'll likely need to do to avoid bankruptcy, without angering their citizens. On Sunday, hundreds of thousands of people in Spain took to the streets in dozens of cities to protest cuts in government spending. 

Greece has "become a touchstone for people to say, 'Okay, things are getting better,'" Sica said. "But they had to force private investors to take losses, the European Central Bank has swelled their balance sheet, it's going to be impossible to impose austerity on these countries. They haven't really accomplished a single thing except buying time." 

News about the U.S. economy has also been opaque, with every sign of economic recovery met with another sign of economic slowdown. While the unemployment rate falls, some analysts raise questions about the quality of the new jobs being created, and others worry that the high price of gas will prevent people from spending on non-necessities, which is crucial to an economic recovery. The average price for a gallon of gasoline jumped a nickel over the weekend to $3.80. China, the superpower that has pushed the world economy forward even as other countries flagged since 2008, announced that its growth slowed at the end of last year. 

The market's knee-jerk nature has been highlighted in the past two weeks. The Dow generated positive buzz when it closed over 13,000 on Feb. 28, a milestone it hadn't reached since May 2008. But it's failed to close above that line again, and Tuesday's 204-point decline added to the uncertainty. 

"Everybody is stepping back and assessing whether the ride is over," Sica said. "It's almost as if investors get to a point where they scratch their head and say, 'Does the market deserve to be here?'" 

Several companies made big moves: 

”” Defibrillator maker Zoll Medical Corp. jumped 24 percent to $92.94 after its board agreed to a buyout offer of $93 per share from Japan's Asahi Kasei Corp. 

”” Mattress maker Sealy Corp. climbed 6 percent after its second-largest shareholder, an investment firm called H Partners Management, asked the company to shuffle its board and blamed the company's problems on the largest shareholder, private equity firm KKR & Co. 

””Harley-Davidson Inc. climbed nearly 3 percent after Citigroup analyst Greg Badishkanian raised his price target to $50 from $46, saying he expects higher sales in the first quarter. 

””Luxury retailer Michael Kors fell 2 percent after the company, purveyor of $950 high heels, announced late Friday that some of its major shareholders would sell their shares earlier than expected.


----------



## bigdog

Source: http://finance.yahoo.com 

Bank stocks turbocharged a rally across the financial markets Tuesday, and all three major stock indexes posted their biggest gains of the year. The Dow Jones industrial average rose 218 points and closed at its highest level since the last day of 2007. 

The Nasdaq composite closed above 3,000 for the first time since December 2000, when dot-com stocks were collapsing. 

There was already plenty of good news driving the market higher Tuesday: Retail sales in February increased the most since September, and the Federal Reserve said it expected the unemployment rate to keep falling. 

Then the market soared in the final hour after JPMorgan Chase, the country's largest bank by assets, announced that it plans to buy back as much as $15 billion of its stock and raise its quarterly dividend by a nickel to 30 cents per share. 

"That's what really made the day," said Jeffrey Kleintop, chief market strategist at LPL Financial. 

JPMorgan Chase stock soared 7 percent, and other banks followed. Citigroup and Goldman Sachs gained 6 percent. Banks were easily the best-performing stocks in the market, gaining almost 4 percent as a group. 

The Fed had planned to release the results of its so-called stress test for 19 financial institutions Thursday after the market closed. But after JPMorgan Chase made its announcement ”” and said it was raising the dividend with the Fed's blessing ”” the Fed pulled a surprise. 

The central bank released its stress test results two days ahead of schedule, a half-hour after the markets closed Tuesday. JPMorgan Chase and 14 other financial institutions passed. Four, including Citigroup, failed. 

Citigroup stock was down 4 percent in after-hours trading following the Fed announcement. 

The Dow finished at 13,177.68, its highest close since Dec. 31, 2007. The close put the Dow within 1,000 points of its record, 14,164.53, set less than three months earlier. All 30 stocks in the Dow closed higher, the first time that has happened this year. 

The Nasdaq composite index rose 56.22 points, or 1.9 percent, to 3,039.88. 

On Dec. 11, 2000, the last time the Nasdaq closed above 3,000, it was in the middle of a horrifying slide ”” from a peak above 5,000 in March 2000 to just above 1,100 in October 2002. 

At the beginning of 2000, the peak of the dot-com frenzy, investors valued stocks in the Nasdaq composite index at an astronomical 175 times their per-share earnings over the previous year. 	 						

 *The NYSE DOW closed  	HIGHER ▲	217.97	points or ▲	1.68%	Tuesday, 13 March 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,177.68	▲	217.97	▲	1.68%	
	Nasdaq___	3,039.88	▲	56.22	▲	1.88%	
	S&P_500__	1,395.95	▲	24.86	▲	1.81%	
	30_Yr_Bond	3.250	▲	0.08	▲	2.40%	

NYSE Volume	 4,386,466,000 			 		 	
Nasdaq Volume	 1,719,736,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,955.91	▲	63.16	▲	1.07%	
	DAX_____	6,995.91	▲	94.56	▲	1.37%	
	CAC_40__	3,550.16	▲	60.10	▲	1.72%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,336.50	▲	48.30	▲	1.13%	
	Shanghai_Comp	2,434.86	▼	-4.60	▼	-0.19%	
	Taiwan_Weight	8,031.51	▲	103.96	▲	1.31%	
	Nikkei_225____	9,899.08	▲	9.22	▲	0.09%	
	Hang_Seng____	21,339.70	▲	53.93	▲	0.97%	
	Strait_Times___	2,989.57	▲	27.39	▲	0.92%	

http://finance.yahoo.com/news/stocks-record-biggest-gains-dow-202756062.html

*Stocks record biggest gains of year; Dow up 218

Biggest day of year on Wall St.: Dow adds 218; Nasdaq reaches a milestone from dot-com days*

By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Bank stocks turbocharged a rally across the financial markets Tuesday, and all three major stock indexes posted their biggest gains of the year. The Dow Jones industrial average rose 218 points and closed at its highest level since the last day of 2007. 

The Nasdaq composite closed above 3,000 for the first time since December 2000, when dot-com stocks were collapsing. 

There was already plenty of good news driving the market higher Tuesday: Retail sales in February increased the most since September, and the Federal Reserve said it expected the unemployment rate to keep falling. 

Then the market soared in the final hour after JPMorgan Chase, the country's largest bank by assets, announced that it plans to buy back as much as $15 billion of its stock and raise its quarterly dividend by a nickel to 30 cents per share. 

"That's what really made the day," said Jeffrey Kleintop, chief market strategist at LPL Financial. 

JPMorgan Chase stock soared 7 percent, and other banks followed. Citigroup and Goldman Sachs gained 6 percent. Banks were easily the best-performing stocks in the market, gaining almost 4 percent as a group. 

The Fed had planned to release the results of its so-called stress test for 19 financial institutions Thursday after the market closed. But after JPMorgan Chase made its announcement ”” and said it was raising the dividend with the Fed's blessing ”” the Fed pulled a surprise. 

The central bank released its stress test results two days ahead of schedule, a half-hour after the markets closed Tuesday. JPMorgan Chase and 14 other financial institutions passed. Four, including Citigroup, failed. 

Citigroup stock was down 4 percent in after-hours trading following the Fed announcement. 

The Dow finished at 13,177.68, its highest close since Dec. 31, 2007. The close put the Dow within 1,000 points of its record, 14,164.53, set less than three months earlier. All 30 stocks in the Dow closed higher, the first time that has happened this year. 

The Nasdaq composite index rose 56.22 points, or 1.9 percent, to 3,039.88. 

On Dec. 11, 2000, the last time the Nasdaq closed above 3,000, it was in the middle of a horrifying slide ”” from a peak above 5,000 in March 2000 to just above 1,100 in October 2002. 

At the beginning of 2000, the peak of the dot-com frenzy, investors valued stocks in the Nasdaq composite index at an astronomical 175 times their per-share earnings over the previous year. 

Google was not yet a public company, and the iPod didn't exist. Apple pulled in $2.3 billion in quarterly revenue. Many Nasdaq companies were Internet startups with high stock prices but big losses. 

And many of them failed, taking the Nasdaq down with them. 

Jack Ablin, chief investment officer at Harris Private Bank, said the key difference between the Nasdaq then and now is that the technology companies that dominate the index only promised profits 12 years ago. 

"The Nasdaq hasn't done much of anything for 12 years, but it's had a huge rally in earnings," Ablin said. 

Today, the profits are real. Apple reported $46 billion in revenue in its latest quarter. The Nasdaq composite, which includes more than 2,500 companies, trades at about 24 times earnings, according to Birinyi Associates. 

The Standard & Poor's 500 index closed up 24.87 points, or 1.8 percent, at 1,395.96, its highest level since June 5, 2008. The S&P has gained 11 percent since Jan. 1, more than what it posts in an average year. The S&P is a 12 percent rally from its record of 1,565.15. 

Brian Gendreau, market strategist at Cetera Financial, said stocks could still go higher. Investors are paying roughly 14 times the past year's earnings for the S&P 500 index. The long-term average is closer to 15. 

"Valuations are still very cheap," he said. 

The dollar rose against the euro and hit an 11-month high against the Japanese yen after the Federal Reserve assessment. The euro fell to $1.3073 late Tuesday from $1.3150 late Monday. The dollar soared to 83.08 yen from 82.26 late Monday. 

The retail sales report showed a gain of 1.1 percent last month. Some of it reflected higher gas prices, but Americans also spent more on cars, clothes and appliances. Department stores had their biggest gains in more than a year. The government also revised its estimates higher for December and January. 

Retail stories reported a 6.7 percent increase in sales in February compared with the same month a year ago. 

A reading of confidence among small business owners also rose in February for the sixth month in a row. The National Federation of Independent Business optimism index reached its highest level in a year, helped by an increase in expected sales. 

The rally gained strength in the afternoon when the Federal Reserve said it saw signs of an improving economy and expected the unemployment rate to keep falling. The Fed also said strains in the global financial markets have eased. 

Among companies making big moves: 

”” Great Wolf Resorts jumped 27 percent to $5.13. Apollo Global Management said it has agreed to buy the indoor water park operator for $5 a share. 

”” Urban Outfitters dropped 5.3 percent, the worst drop in the S&P 500 index. The retailer reported earnings that fell below what analysts were expecting after it had to mark down prices on women's clothing at its Anthropologie and Urban Outfitters stores. 

”” Carmike Cinemas soared 17 percent. The Georgia-based movie theater chain reported earnings and sales that far outpaced what Wall Street analysts had expected


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks ended pretty much where they started Wednesday on Wall Street, a day after the market had its biggest gain of the year.

The Dow Jones industrial average eked out an increase of 16.42 points, its sixth consecutive gain. The Dow ended at 13,194.10, up 0.1 percent. The Dow was up as much as 43 points in the morning, but most of those gains evaporated by mid-afternoon.

It was the longest winning stretch for the Dow since February 2011, but that was one of the few bright spots on an otherwise glum day in the stock market.

The Standard & Poor's 500 edged down 1.67 points to 1,394.28. The Nasdaq composite inched up 0.85 point to end at 3,040.73. The Nasdaq closed above 3,000 on Tuesday for the first time since December 2000.

Other market indicators were weak. The Russell 2000 index of small-company stocks fell 1 percent. Only two of the 10 industry groups in the S&P 500 rose, technology and banks. Falling stocks outnumbered rising ones more than 2-to-1 on the New York Stock Exchange.

American Express led the Dow higher with a 3.5 percent advance. The credit card company said it would increase its dividend and buy back up to $5 billion of its own stock after passing the Federal Reserve's latest "stress test."

Citigroup fell 3.4 percent after regulators ruled that the bank couldn't afford to raise its dividend. Citi was one of just four major financial companies that didn't pass the Fed's latest test of how banks would hold up during an extreme economic downturn.

On Tuesday, a powerful rally in bank stocks pushed the Dow to its highest close since the last day of 2007. The Federal Reserve said 15 of the 19 major banks it surveyed passed its test.	 						

 *The NYSE DOW closed  	HIGHER ▲	16.42	points or ▲	0.12%	Wednesday, 14 March 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,194.10	▲	16.42	▲	0.12%	
	Nasdaq___	3,040.73	▲	0.85	▲	0.03%	
	S&P_500__	1,394.28	▼	-1.67	▼	-0.12%	
	30_Yr_Bond	3.410	▲	0.16	▲	4.99%	

NYSE Volume	 4,502,279,500 			 		 	
Nasdaq Volume	 1,669,365,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,945.43	▼	-10.48	▼	-0.18%	
	DAX_____	7,079.42	▲	83.51	▲	1.19%	
	CAC_40__	3,564.51	▲	14.35	▲	0.40%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,375.60	▲	39.10	▲	0.90%	
	Shanghai_Comp	2,391.23	▼	-64.57	▼	-2.63%	
	Taiwan_Weight	8,125.26	▲	93.75	▲	1.17%	
	Nikkei_225____	10,050.52	▲	151.44	▲	1.53%	
	Hang_Seng____	21,307.89	▲	53.93	▼	-0.15%	
	Strait_Times___	3,026.40	▲	37.33	▲	1.25%	

http://news.yahoo.com/stocks-mostly-lower-wall-street-dow-gains-16-201534769.html

*Stocks mostly lower on Wall Street; Dow gains 16

Stocks end little changed on Wall Street a day after the market's biggest day of the year*

By The Associated Press 

Stocks ended pretty much where they started Wednesday on Wall Street, a day after the market had its biggest gain of the year.

The Dow Jones industrial average eked out an increase of 16.42 points, its sixth consecutive gain. The Dow ended at 13,194.10, up 0.1 percent. The Dow was up as much as 43 points in the morning, but most of those gains evaporated by mid-afternoon.

It was the longest winning stretch for the Dow since February 2011, but that was one of the few bright spots on an otherwise glum day in the stock market.

The Standard & Poor's 500 edged down 1.67 points to 1,394.28. The Nasdaq composite inched up 0.85 point to end at 3,040.73. The Nasdaq closed above 3,000 on Tuesday for the first time since December 2000.

Other market indicators were weak. The Russell 2000 index of small-company stocks fell 1 percent. Only two of the 10 industry groups in the S&P 500 rose, technology and banks. Falling stocks outnumbered rising ones more than 2-to-1 on the New York Stock Exchange.

American Express led the Dow higher with a 3.5 percent advance. The credit card company said it would increase its dividend and buy back up to $5 billion of its own stock after passing the Federal Reserve's latest "stress test."

Citigroup fell 3.4 percent after regulators ruled that the bank couldn't afford to raise its dividend. Citi was one of just four major financial companies that didn't pass the Fed's latest test of how banks would hold up during an extreme economic downturn.

On Tuesday, a powerful rally in bank stocks pushed the Dow to its highest close since the last day of 2007. The Federal Reserve said 15 of the 19 major banks it surveyed passed its test.

Other banks that got passing grades from the Fed mostly rose. Regions Financial rose 6.9 percent to $6.17 after the bank said it would sell $900 million in stock to repay some of the money it received as part of the 2008 bank bailout. Bank of America rose 4.1 percent to $8.84 and Zions Bancorporation jumped 10.5 percent to $21.58, the most of any stock in the S&P 500 index.

MetLife, an insurance company, also failed to pass the Fed's stress test. The stock slid 5.8 percent to $37.16, the most in the S&P 500.

The yield on the 10-year Treasury note rose sharply, to 2.27 percent from 2.11 percent late Tuesday. The benchmark yield has risen for five days straight and is at the highest level since October. That's a sign that investors believe the economy is improving and that they're more willing to hold higher-risk assets like stocks.

Gold plunged $51 to $1,643 an ounce as the dollar surged against other currencies. Gold often falls when the dollar rises because it's seen as an alternative to holding cash.

European markets were mostly higher. Germany's DAX rose 1.2 percent. France's benchmark index rose 0.4 percent and Spain's edged up 0.2 percent.

The Fed was planning to wait until Thursday to release the results of its stress tests, which determine which financial companies are healthy enough to raise their dividends. After JPMorgan Chase surprised the market with an announcement Tuesday that it would raise its dividend and buy back stock, the Fed released the results early.

Apple rose for a sixth straight day, gaining $21.48, or 3.8 percent, to $589.58. The stock started the year at $405. The company announced the latest version of its blockbuster tablet computer, the iPad, last week.

Southwest Airlines fell 2.7 percent to $8.18 a day after the low-cost carrier said it didn't expect to earn a profit in the first quarter because of higher fuel costs. The airline also said ticket bookings for spring travel weakened in late February.

Cliffs Natural Resources jumped 7 percent to $69.50. The Cleveland-based mining company said late Tuesday it was bumping its dividend to 62.6 cents, from 28 cents.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market cleared another barrier Thursday in its long recovery from the Great Recession: The Standard & Poor's 500 index closed above 1,400 for the first time since June 2008. 

The Dow Jones industrial average, driven higher like the rest of the market by more good economic news, set a four-year high. It climbed 58.66 points to finish at 13,252.76, its highest close since the last day of 2007. 

It was the seventh gain in a row for the Dow, the longest streak since February 2011. 

The government said applications for unemployment benefits fell last week to 351,000, matching a four-year low. When applications stay below 375,000, it usually signals that hiring is strong enough to lower the unemployment rate. 

Optimism about the job market and the broader economic recovery has driven stocks steadily higher all year. The S&P is up more than 11 percent, beating its performance for an average year, and the Dow is up more than 8 percent. 

Employers have added an average 245,000 jobs each month since December. 

"We've been sputtering for the last couple of days, but now we're seeing those strong jobs numbers really drive the market higher," said Joe Bell, senior equity strategist at Schaeffer's Investment Research. 

A separate report Thursday showed that prices paid by wholesalers rose less than expected in February, despite a spike in gasoline prices. The producer price index has increased 3.3 percent in the past year, the smallest gain since August 2010. 

The S&P finished at 1,402.60, up 8.32 points. The close put it about 107 points shy of its record, 1565.15, set in October 2007. And the index, the broadest of the three major market gauges, suggests stocks are still inexpensive by historical standards. 

The S&P trades at about 14.5 times the past year's earnings for its 500 companies, compared with a historical average of 15. It's not unusual for stocks to trade higher than the long-term average and for many years at a time. 

The index is up 107 percent since its low during the Great Recession in March 2009. 

Nine of the 10 industry groups in the S&P finished higher, led by financial stocks, which gained 1.9 percent as a group. Utility stocks, traditionally sought by investors with little tolerance for risk, were the only group to fall. 					

 *The NYSE DOW closed  	HIGHER ▲	58.66	points or ▲	0.44%	Thursday, 15 March 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,252.76	▲	58.66	▲	0.44%	
	Nasdaq___	3,056.37	▲	15.64	▲	0.51%	
	S&P_500__	1,402.60	▲	8.32	▲	0.60%	
	30_Yr_Bond	3.412	▲	0.00	▲	0.12%	

NYSE Volume	 4,271,647,000 			 		 	
Nasdaq Volume	 1,688,321,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,940.72	▼	-4.71	▼	-0.08%	
	DAX_____	7,144.45	▲	65.03	▲	0.92%	
	CAC_40__	3,580.21	▲	15.70	▲	0.44%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,366.90	▼	-8.70	▼	-0.20%	
	Shanghai_Comp	2,373.77	▼	-17.46	▼	-0.73%	
	Taiwan_Weight	8,121.62	▼	-3.64	▼	-0.04%	
	Nikkei_225____	10,123.28	▲	72.76	▲	0.72%	
	Hang_Seng____	21,353.53	▲	53.93	▲	0.21%	
	Strait_Times___	3,019.87	▼	-6.53	▼	-0.22%	

http://finance.yahoo.com/news/p-cra...ZlZGMtMTFlMS1iZmRmLTMxMjk3ODdkNmI0ZA--;_ylv=3

*S&P cracks 1,400 for first time since 2008

Standard & Poor's 500 over 1,400 for first time since June 2008; 7-day win streak for the Dow*

By Samantha Bomkamp, AP Business Writer 

NEW YORK (AP) -- The stock market cleared another barrier Thursday in its long recovery from the Great Recession: The Standard & Poor's 500 index closed above 1,400 for the first time since June 2008. 

The Dow Jones industrial average, driven higher like the rest of the market by more good economic news, set a four-year high. It climbed 58.66 points to finish at 13,252.76, its highest close since the last day of 2007. 

It was the seventh gain in a row for the Dow, the longest streak since February 2011. 

The government said applications for unemployment benefits fell last week to 351,000, matching a four-year low. When applications stay below 375,000, it usually signals that hiring is strong enough to lower the unemployment rate. 

Optimism about the job market and the broader economic recovery has driven stocks steadily higher all year. The S&P is up more than 11 percent, beating its performance for an average year, and the Dow is up more than 8 percent. 

Employers have added an average 245,000 jobs each month since December. 

"We've been sputtering for the last couple of days, but now we're seeing those strong jobs numbers really drive the market higher," said Joe Bell, senior equity strategist at Schaeffer's Investment Research. 

A separate report Thursday showed that prices paid by wholesalers rose less than expected in February, despite a spike in gasoline prices. The producer price index has increased 3.3 percent in the past year, the smallest gain since August 2010. 

The S&P finished at 1,402.60, up 8.32 points. The close put it about 107 points shy of its record, 1565.15, set in October 2007. And the index, the broadest of the three major market gauges, suggests stocks are still inexpensive by historical standards. 

The S&P trades at about 14.5 times the past year's earnings for its 500 companies, compared with a historical average of 15. It's not unusual for stocks to trade higher than the long-term average and for many years at a time. 

The index is up 107 percent since its low during the Great Recession in March 2009. 

Nine of the 10 industry groups in the S&P finished higher, led by financial stocks, which gained 1.9 percent as a group. Utility stocks, traditionally sought by investors with little tolerance for risk, were the only group to fall. 

CSX Corp., the railroad company, jumped 8.5 percent after its chief financial officer said at a conference that the company expects the improving economy to drive record first-quarter earnings. 

CSX was the best-performing stock in the S&P 500, and the Dow Jones transportation average gained 3.3 percent, its best day of the year. Two other railroad stocks, Norfolk Southern and Union Pacific, gained 5 percent apiece. 

The Nasdaq composite index climbed 15.64 points to close at 3,056.37. It has gained 17 percent this year, easily beating the Dow and S&P, and is trading at levels last seen in December 2000. 

Apple cleared $600 per share for the first time on the day before the release of its latest iPad tablet. The stock fell back and closed at $585.56, down 0.7 percent for the day. Apple ended last year at $405. 

The price of oil dropped almost $2 per barrel in minutes after a report just before noon that the United States and Britain had agreed to release oil from emergency reserves. 

The White House later said those reports were inaccurate, and oil prices recovered. Oil closed at $105.11 per barrel in New York, down 32 cents for the day. 

U.S. Treasury yields held their five-month highs. The yield on the benchmark 10-year note rose to 2.28 percent, from 2.27 percent Wednesday. Bond prices have fallen as investors move money into stocks and bet on the economic recovery. 

Gold rose $15.70 to $1,658.50 an ounce. The euro gained half a penny against the dollar to $1.309. 

In Asia, markets mostly fell after Chinese Premier Wen Jiabao said curbs that have slowed a run-up in housing prices will remain in place, despite fears that the effort could contribute to the nation's economic slowdown. 

The benchmark Shanghai Composite Index lost 0.7 percent. But Hong Kong's Hang Seng closed 0.2 percent higher, and Japan's Nikkei index rose 0.7 percent as the yen continued to decline from record highs against the U.S. dollar. 

Markets in Europe ended mostly higher. Britain's FTSE 100 index fell 0.1 percent, but France's CAC 40 index gained 0.4 percent, Germany's DAX index gained 0.9 percent. 

Among other U.S. stocks making big moves on Thursday: 

”” Cisco Systems Inc. slipped 1.4 percent after it announced a $5 billion deal to buy NDS Group Ltd., a video technology company, from News Corp. Shares of News Corp., which owns Fox News Channel and The Wall Street Journal,sears edged higher. 

”” AMC Networks, a spinoff of Cablevision that owns the cable networks AMC, IFC and Sundance Channel, dropped 4.4 percent after its fourth-quarter earnings fell short of Wall Street estimates. 

”” Goldman Sachs, the investment bank, rose 2.2 percent. It fell 3.4 percent Wednesday, when a young banker published a resignation essay in The New York Times accusing the bank of losing its moral fiber.


----------



## howmanyru

Don't know about others but I am getting nervous about the DJIA approaching its pre GFC highs. I mean, what has actually been fixed since then?


----------



## bigdog

Source: http://finance.yahoo.com 
It was a mundane end to an electrifying week on the stock market.

Stock indexes wavered indecisively between small gains and losses Friday before closing mixed. Earlier in the week, the Standard & Poor's 500 and the Nasdaq composite index were on a tear, hitting levels that hadn't been reached in years.

On Friday, the Dow Jones industrial average and the Nasdaq both ended the day down. The Dow fell 20.14 points to 13,232.62. The Nasdaq fell 1.11 points to 3,055.26. The broader S&P 500 index edged up 1.57 points to 1,404.17.

Despite Friday's losses, the three major indexes were all still up more than 2 percent for the week. The Dow had its first down day after seven straight gains, ending its longest winning streak since February 2011.

Investors were weighing competing reports about the health of the U.S. economy. A key measure of consumer sentiment came in lower than expected, and high gas prices continued to weigh down hopes about a recovery. On the plus side, prices for other goods, including food, stabilized.

Telly Zachariades, a partner at The Valence Group investment bank, said the market appears to be on the upswing, even if it's marred by a few off-days. "It's almost like today was a spring training game that ended up getting rained out," he said.

Others think the market's rise earlier this week only masks underlying problems in the economy's fundamentals, like uncertainty over oil prices and tax policies and the country's burgeoning deficit.	 						

 *The NYSE DOW closed  	LOWER ▼	-20.14	points or ▼	-0.15%	Friday, 16 March 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,232.62	▼	-20.14	▼	-0.15%	
	Nasdaq___	3,055.26	▼	-1.11	▼	-0.04%	
	S&P_500__	1,404.17	▲	1.57	▲	0.11%	
	30_Yr_Bond	3.411	▼	0.00	▼	-0.03%	

NYSE Volume	 4,953,295,000 			 		 	
Nasdaq Volume	 2,146,069,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,965.58	▲	24.86	▲	0.42%	
	DAX_____	7,157.82	▲	13.37	▲	0.19%	
	CAC_40__	3,594.83	▲	14.62	▲	0.41%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,364.70	▼	-2.20	▼	-0.05%	
	Shanghai_Comp	2,404.74	▲	30.96	▲	1.30%	
	Taiwan_Weight	8,054.94	▼	-66.68	▼	-0.82%	
	Nikkei_225____	10,129.83	▲	6.55	▲	0.06%	
	Hang_Seng____	21,317.85	▲	53.93	▼	-0.17%	
	Strait_Times___	3,010.68	▼	-15.16	▼	-0.50%	

http://news.yahoo.com/us-stocks-waver-then-end-day-mixed-201039577.html

By CHRISTINA REXRODE | AP Business Writer

NEW YORK ”” It was a mundane end to an electrifying week on the stock market.

Stock indexes wavered indecisively between small gains and losses Friday before closing mixed. Earlier in the week, the Standard & Poor's 500 and the Nasdaq composite index were on a tear, hitting levels that hadn't been reached in years.

On Friday, the Dow Jones industrial average and the Nasdaq both ended the day down. The Dow fell 20.14 points to 13,232.62. The Nasdaq fell 1.11 points to 3,055.26. The broader S&P 500 index edged up 1.57 points to 1,404.17.

Despite Friday's losses, the three major indexes were all still up more than 2 percent for the week. The Dow had its first down day after seven straight gains, ending its longest winning streak since February 2011.

Investors were weighing competing reports about the health of the U.S. economy. A key measure of consumer sentiment came in lower than expected, and high gas prices continued to weigh down hopes about a recovery. On the plus side, prices for other goods, including food, stabilized.

Telly Zachariades, a partner at The Valence Group investment bank, said the market appears to be on the upswing, even if it's marred by a few off-days. "It's almost like today was a spring training game that ended up getting rained out," he said.

Others think the market's rise earlier this week only masks underlying problems in the economy's fundamentals, like uncertainty over oil prices and tax policies and the country's burgeoning deficit.

"The market is giving us a free pass on our unsustainable fiscal positions through the presidential election," said Barry Knapp, head of equity strategies at Barclays Capital. "But in 2013, we're going to have to deal with this."

"What we've seen today," Knapp added, "is a little bit of a warning sign."

The market's back-and-forth pattern this week was caused partly by conflicting news about the economy. The University of Michigan's closely watched consumer sentiment index came in below analysts' expectations, driven by worries about rising gas prices. The Labor Department also noted that gas prices soared 6 percent in February.

Many analysts think the higher gas prices will crimp the U.S. economy by shrinking the amount of money that people have to spend on discretionary purchases. Gas is currently selling for an average of $3.83 per gallon in the U.S., 31 cents more than a month ago.

The price of gas has spiked as Iran's nuclear program sows tension in the Middle East. Some analysts also blame the Federal Reserve, which has pumped cheap money into the economy in an attempt to help it recover. That has also put pressure on the U.S. dollar. When the dollar falls in value, it takes more of them to buy the same amount of oil.

The Labor Department also noted that inflation in other sectors seemed under control. Food prices, which have been rising, were unchanged for the first time in 19 months.

Positive signs from bonds and the European markets added to the confusion about where the market was going. The yield on the 10-year Treasury continued to rise, reaching 2.30 percent late Friday compared with 2.03 percent the week before. That's the highest level since October and a sign that investors are more confident in the economy. Markets in Europe also finished higher.

The earlier part of the week was an exhilarating ride for the stock market. Both the Nasdaq and the S&P 500 crossed key milestones. The Nasdaq closed above 3,000 for the first time since December 2000; The S&P closed above 1,400 for the first time since June 2008. On Tuesday, the Dow, the Nasdaq and the S&P 500 all recorded their biggest percentage gains of the year.

The euphoria was brought on by what investors saw as encouraging news about employment and retail sales. Some cautioned that the improvements were incremental and unconvincing, driving short-term market surges but little else.

"It's becoming so much of a sound bite economy," said Ziad Abdelnour, CEO of private equity firm Blackhawk Partners.

In the U.S., Bank of America led the Dow higher, rising more than 6 percent after a report that its proportion of delinquent loans fell in February. Buffalo Wild Wings fell more than 3 percent after a Wedbush analyst lowered his rating to the equivalent of hold from buy, noting the high cost of wings.

Energy companies were the biggest gainers in the S&P 500 index. Transocean, an offshore drilling company, rose nearly 5 percent after it reported that it had secured several new contracts. Analysts from at least three companies raised their price targets on the company.

1168


----------



## bigdog

Source: http://finance.yahoo.com 

U.S. stocks drifted higher Monday but lost the momentum from their biggest week of the year. A dividend from Apple, a deal for UPS and the promise of greater demand for U.S. Steel drove those stocks to gains. 

The Dow Jones industrial average was up as much as 37 points but sank most of the afternoon and finished up 6.51 at 13,239.13. It was a ho-hum performance compared with the Dow's 310-point gain last week. 

The Standard & Poor's 500 rose 5.58 points to 1,409.75, its highest close since May 20, 2008. The Nasdaq composite index rose 23.06 points to 3,078.32. 

An index of homebuilder confidence came in unchanged. Without major economic news or headlines out of Europe, the markets were steered by announcements from a handful of well-known companies. 

Apple rose 2.7 percent to $601.10, its first close above $600, after announcing that it would pay a shareholder dividend and buy back $10 billion of its stock over three years. 

The dividend is expected to expand the company's shareholder reach because value-oriented mutual funds that focus on dividends will buy it. Apple's stock has already skyrocketed from $405 this year, partly in anticipation of the dividend. 

UPS rose 3.4 percent after announcing it would buy TNT Express, the second-largest express mail company in Europe behind DHL. The purchase further solidifies UPS' status as the world's largest delivery company. 

U.S. Steel climbed 6.4 percent, the best performer in the S&P 500, after some manufacturers announced price hikes last week, fueling expectations of improving demand. Steel Dynamics and AK Steel Holding Corp. also rose. 			

 *The NYSE DOW closed  	HIGHER ▲	6.51	points or ▲	0.05%	Monday, 19 March 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,239.13	▲	6.51	▲	0.05%	
	Nasdaq___	3,078.32	▲	23.06	▲	0.75%	
	S&P_500__	1,409.75	▲	5.58	▲	0.40%	
	30_Yr_Bond	3.481	▲	0.07	▲	2.05%	

NYSE Volume	 3,932,578,250 			 		 	
Nasdaq Volume	 1,553,209,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,961.11	▼	-4.47	▼	-0.07%	
	DAX_____	7,154.22	▼	-3.60	▼	-0.05%	
	CAC_40__	3,577.88	▼	-16.95	▼	-0.47%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,381.20	▲	16.50	▲	0.38%	
	Shanghai_Comp	2,410.18	▲	5.45	▲	0.23%	
	Taiwan_Weight	8,043.92	▼	-11.02	▼	-0.14%	
	Nikkei_225____	10,141.99	▲	12.16	▲	0.12%	
	Hang_Seng____	21,115.29	▲	53.93	▼	-0.95%	
	Strait_Times___	2,992.16	▼	-18.52	▼	-0.62%	

http://finance.yahoo.com/news/us-stocks-drift-higher-cant-205417826.html

*US stocks drift higher but can't match last week

US stocks climb slightly but can't match last week's big rally; Apple announces a dividend*

By Christina Rexrode, AP Business Writer

NEW YORK (AP) -- U.S. stocks drifted higher Monday but lost the momentum from their biggest week of the year. A dividend from Apple, a deal for UPS and the promise of greater demand for U.S. Steel drove those stocks to gains. 

The Dow Jones industrial average was up as much as 37 points but sank most of the afternoon and finished up 6.51 at 13,239.13. It was a ho-hum performance compared with the Dow's 310-point gain last week. 

The Standard & Poor's 500 rose 5.58 points to 1,409.75, its highest close since May 20, 2008. The Nasdaq composite index rose 23.06 points to 3,078.32. 

An index of homebuilder confidence came in unchanged. Without major economic news or headlines out of Europe, the markets were steered by announcements from a handful of well-known companies. 

Apple rose 2.7 percent to $601.10, its first close above $600, after announcing that it would pay a shareholder dividend and buy back $10 billion of its stock over three years. 

The dividend is expected to expand the company's shareholder reach because value-oriented mutual funds that focus on dividends will buy it. Apple's stock has already skyrocketed from $405 this year, partly in anticipation of the dividend. 

UPS rose 3.4 percent after announcing it would buy TNT Express, the second-largest express mail company in Europe behind DHL. The purchase further solidifies UPS' status as the world's largest delivery company. 

U.S. Steel climbed 6.4 percent, the best performer in the S&P 500, after some manufacturers announced price hikes last week, fueling expectations of improving demand. Steel Dynamics and AK Steel Holding Corp. also rose. 

The markets couldn't match the electricity of last week. The Dow and the S&P 500 both rose 2.4 percent last week, their best showings of the year so far. For the first time, the Dow closed above 13,000 and the Nasdaq above 3,000 on the same day. 

On Monday, while ever-present concerns about European debt, a slowdown in China and the pace of U.S. economic growth were bubbling below the surface, investors seemed to take a day off from worrying about them. 

"The absence of any negative news over the weekend was pretty positive," said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Va., who described the market as complacent. "It sounds backward, but that's quite often the case." 

There was little in the way of major economic indicators. The National Association of Home Builders' index of builder confidence came in unchanged from the previous month but is at its highest since June 2007, a year before the financial meltdown. 

Prices for U.S. Treasury debt slid for the ninth day in a row, and the yield on the 10-year Treasury note hit 2.40 percent. It has not settled that high since Oct. 27. The 10-year was at 2.36 late Monday, up from 2.30 percent Friday. 

The falling prices are a sign that investors are feeling more confident in the economy and moving money out of bonds and into riskier assets like stocks. 

The price of oil climbed above $108, up more than a dollar for the day and almost $3 for the last two trading days. The average price for a gallon of regular gasoline rose a penny over the weekend to $3.84 and is up 30 cents from a month ago, pushed higher by tension in Europe over Iran's nuclear program. 

European markets were mixed. The main stock indexes fell less than 1 percent in France, Britain and Germany. Stocks rose 1.6 percent in Greece and 1.2 percent in Spain. 

Though Greece's debt crisis has faded from the spotlight for the moment, Greece remains in deep recession, and uncertainty lingers. Unions throughout Europe are protesting cuts in benefits, making it difficult for governments to rein in their spending. 

Leadership questions are also surfacing, with the Greek finance minister stepping down to run the majority Socialist party and France gearing up for presidential elections. 

Among other U.S. stocks making moves: 

”” Sprint Nextel plummeted 4.5 percent after an analyst downgraded the stock to underperform, predicted that future incarnations of the iPhone could have trouble with the Sprint network and expressed concern about the company's debt. 

”” Bank of America rose above $10 in midday trading for the first time since August, though it's still well off its pre-crisis high of more than $50. The stock ended the day down 2.8 percent, at $9.53.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks closed lower Tuesday for only the second time in two weeks after two reports suggested an economic slowdown in China, where blistering growth over the past three years has helped sustain the global economic recovery.

Home prices dropped in 45 Chinese cities last month, a result of government policies designed to reduce property speculation. And BHP Billiton, a mining company, predicted that China will not use much more iron ore in 2020 than it does today.

In the United States, stocks recovered some of their early loss but still closed lower. The Dow Jones industrial average declined 68.94 points to 13,170.19. It had been down as much as 116 points.

The Standard & Poor's 500 index closed down 4.23 points at 1,405.52. The Nasdaq composite index dropped 4.17 points to 3,074.15.

Brian Gendreau, a market strategist at the brokerage Cetera Financial Group, said traders were concerned about slower growth in India and Brazil as well. That could rein in a rally that has driven the S&P up almost 12 percent this year.

"If there were skeptics out there that the market might have gotten a little ahead of itself, this was all the news they needed," Gendreau said.

Mining companies, which rely on rising demand from the developing world, plunged. Peabody Energy fell 5.4 percent, Cliffs Natural Resources 2.4 percent and U.S. Steel 0.9 percent. Energy stocks were the worst-performing group in the S&P 500.

Caterpillar, the maker of heavy equipment, led the Dow lower and slid 2.6 percent after it said global sales are growing more slowly. Bank of America, by far the most active stock in the Dow, led the average with a 2.9 percent gain.

Besides the report on home prices and the prediction of weaker demand for iron ore, which is used to make steel, China raised the price of gasoline for the second time in two months. That could hurt demand for fuel.

China's economy grew at an annual rate of 8.9 percent in the last three months of 2011, but the government, which is worried that the economy will overheat, has set a growth target of 7.5 percent this year.					

 *The NYSE DOW closed  	LOWER ▼	-68.94	points or ▼	-0.52%	Tuesday, 20 March 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,170.19	▼	-68.94	▼	-0.52%	
	Nasdaq___	3,074.15	▼	-4.17	▼	-0.14%	
	S&P_500__	1,405.52	▼	-4.23	▼	-0.30%	
	30_Yr_Bond	3.460	▼	-0.02	▼	-0.69%	

NYSE Volume	 3,695,271,500 			 		 	
Nasdaq Volume	 1,532,892,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,891.41	▼	-69.70	▼	-1.17%	
	DAX_____	7,054.94	▼	-99.28	▼	-1.39%	
	CAC_40__	3,530.83	▼	-47.05	▼	-1.32%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,365.60	▼	-15.60	▼	-0.36%	
	Shanghai_Comp	2,376.84	▼	-33.35	▼	-1.38%	
	Taiwan_Weight	7,972.70	▼	-71.22	▼	-89.00%	
	Nikkei_225____	10,141.99	▲	12.16	▲	0.12%	
	Hang_Seng____	20,888.24	▲	53.93	▼	-1.08%	
	Strait_Times___	3,006.12	▲	16.03	▲	0.54%	

http://news.yahoo.com/worry-chinese-demand-drives-us-stocks-lower-185332057.html

*Worry about Chinese demand drives US stocks lower*

Stocks closed lower Tuesday for only the second time in two weeks after two reports suggested an economic slowdown in China, where blistering growth over the past three years has helped sustain the global economic recovery.

Home prices dropped in 45 Chinese cities last month, a result of government policies designed to reduce property speculation. And BHP Billiton, a mining company, predicted that China will not use much more iron ore in 2020 than it does today.

In the United States, stocks recovered some of their early loss but still closed lower. The Dow Jones industrial average declined 68.94 points to 13,170.19. It had been down as much as 116 points.

The Standard & Poor's 500 index closed down 4.23 points at 1,405.52. The Nasdaq composite index dropped 4.17 points to 3,074.15.

Brian Gendreau, a market strategist at the brokerage Cetera Financial Group, said traders were concerned about slower growth in India and Brazil as well. That could rein in a rally that has driven the S&P up almost 12 percent this year.

"If there were skeptics out there that the market might have gotten a little ahead of itself, this was all the news they needed," Gendreau said.

Mining companies, which rely on rising demand from the developing world, plunged. Peabody Energy fell 5.4 percent, Cliffs Natural Resources 2.4 percent and U.S. Steel 0.9 percent. Energy stocks were the worst-performing group in the S&P 500.

Caterpillar, the maker of heavy equipment, led the Dow lower and slid 2.6 percent after it said global sales are growing more slowly. Bank of America, by far the most active stock in the Dow, led the average with a 2.9 percent gain.

Besides the report on home prices and the prediction of weaker demand for iron ore, which is used to make steel, China raised the price of gasoline for the second time in two months. That could hurt demand for fuel.

China's economy grew at an annual rate of 8.9 percent in the last three months of 2011, but the government, which is worried that the economy will overheat, has set a growth target of 7.5 percent this year.

Commodity prices fell broadly, also because of concerns about Chinese demand. Copper fell almost 2 percent. Platinum and palladium also fell. Gold fell more than $20 an ounce to $1,647 and is down 8 percent this month.

The price of oil dropped $2.48 to $105.61 in New York trading. In addition to the worry about China, oil fell because Saudi Arabia promised to fulfill any shortfalls in global supply because of the standoff over Iran's nuclear program.

Yields for U.S. government debt fell slightly after rising for nine consecutive days. The yield on the 10-year Treasury note dropped to 2.33 percent, from 2.36 late Monday, but had recovered to 2.36 percent later Tuesday.

The dollar rose against the euro. Traders tend to buy what they consider safer currencies, such as the dollar, when they are worried about the global economy. The euro fell to $1.322 from $1.324 late Monday.

The U.S. Commerce Department released a mixed report on the housing market. Builders broke ground on fewer homes in February, though they obtained more permits to build homes later in the year.

Gendreau said the report's impact on trading was mild because most housing data in recent months have signaled a modest revival for the industry.

European indexes fell. Germany's DAX lost 1.4 percent, France's CAC-40 1.3 percent and Britain's FTSE 100 1.2 percent.

Among the companies making big moves in the U.S. on Tuesday:

”” Tiffany & Co., the jeweler, jumped 6.7 percent after it said it expects higher profits and revenue this year.

”” Adobe Systems Inc., a maker of graphic design software, fell 3.9 percent after its quarterly profit fell sharply because of higher operating costs.

”” Lions Gate Entertainment Corp., the movie studio, rose 7.2 percent and hit a one-year high. "The Hunger Games," a science-fiction action movie opening Friday, could be a hit.


----------



## bigdog

Source: http://finance.yahoo.com 

U.S. stocks closed mixed Wednesday after a quiet trading day that left the indexes little changed.

The Dow Jones industrial average closed down 45.57 points, or 0.3 percent, to 13,124.62. It had been up 20 shortly after the opening bell. The Dow had its biggest loss in two weeks on Tuesday, falling 68.94 points. 

The Standard & Poor's 500 index closed down 2.63 points, or 0.2 percent, at 1,402.89. The Nasdaq composite average closed up 1.17 at 3,075.32. 

Hewlett-Packard led the Dow lower, sliding 2.2 percent after saying it would combine its printer and PC divisions to save money and improve efficiency. H-P is coping with declining sales of PCs and printer ink as smartphones, tablets and electronic document-sharing gain popularity. 

Earlier Wednesday, the National Association of Realtors released a mixed report about the state of the housing market. Sales of previously occupied homes dipped last month, but the sales pace for the winter was the best in five years, NAR said. Housing has been dragging on the economic recovery; an oversupply of homes has decimated construction and other trades in many parts of the country. 

Without strongly positive or negative news to move the market, stocks meandered sideways for most of the day. John Manley, chief equity strategist for Wells Fargo Advantage Funds, said the lack of market-moving events is generally good for stocks. Traders are increasingly confident that the risks hanging over the market from Europe, oil prices and China will blow over, he said. 

"If it hasn't happened today, that means it might not happen tomorrow," Manley said. "My guess is, no news means a slight upward bias to the market." 

The yield on the 10-year Treasury note fell to 2.30 percent from 2.36 percent late Tuesday. Gold and crude oil prices rose slightly. 

Stocks closed lower on Tuesday after two reports signaled an economic slowdown in China. Supercharged growth in China over the past three years has helped sustain the global economic recovery. The Dow had its biggest loss since March 6. 

The Dow is still up 1.3 percent this month and 7.4 percent so far this year. Other indexes are up even more for the year: The S&P 500 has gained 11.6 percent; the technology-focused Nasdaq composite 18.1 percent. 				

 *The NYSE DOW closed  	LOWER ▼	-45.57	points or ▼	-0.35%	Wednesday, 21 March 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,124.62	▼	-45.57	▼	-0.35%	
	Nasdaq___	3,075.32	▲	1.17	▲	0.04%	
	S&P_500__	1,402.89	▼	-2.63	▼	-0.19%	
	30_Yr_Bond	3.379	▼	-0.08	▼	-2.26%	

NYSE Volume	 3,573,597,250 			 		 	
Nasdaq Volume	 1,563,464,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,891.95	▲	0.54	▲	0.01%	
	DAX_____	7,071.32	▲	16.38	▲	0.23%	
	CAC_40__	3,527.37	▼	-3.46	▼	-0.10%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,347.00	▼	-18.60	▼	-0.43%	
	Shanghai_Comp	2,378.20	▲	1.36	▲	0.06%	
	Taiwan_Weight	7,981.94	▲	9.24	▲	0.12%	
	Nikkei_225____	10,086.49	▼	-55.50	▼	-0.55%	
	Hang_Seng____	20,856.63	▲	53.93	▼	-0.15%	
	Strait_Times___	3,005.63	▲	2.90	▲	0.10%	

http://finance.yahoo.com/news/us-stocks-close-mixed-continuing-201038840.html

*US stocks close mixed, continuing bumpy week

US stocks close mixed; H-P leads Dow lower as investors sour on new strategy*

By Daniel Wagner, AP Business Writer

U.S. stocks closed mixed Wednesday after a quiet trading day that left the indexes little changed. 

The Dow Jones industrial average closed down 45.57 points, or 0.3 percent, to 13,124.62. It had been up 20 shortly after the opening bell. The Dow had its biggest loss in two weeks on Tuesday, falling 68.94 points. 

The Standard & Poor's 500 index closed down 2.63 points, or 0.2 percent, at 1,402.89. The Nasdaq composite average closed up 1.17 at 3,075.32. 

Hewlett-Packard led the Dow lower, sliding 2.2 percent after saying it would combine its printer and PC divisions to save money and improve efficiency. H-P is coping with declining sales of PCs and printer ink as smartphones, tablets and electronic document-sharing gain popularity. 

Earlier Wednesday, the National Association of Realtors released a mixed report about the state of the housing market. Sales of previously occupied homes dipped last month, but the sales pace for the winter was the best in five years, NAR said. Housing has been dragging on the economic recovery; an oversupply of homes has decimated construction and other trades in many parts of the country. 

Without strongly positive or negative news to move the market, stocks meandered sideways for most of the day. John Manley, chief equity strategist for Wells Fargo Advantage Funds, said the lack of market-moving events is generally good for stocks. Traders are increasingly confident that the risks hanging over the market from Europe, oil prices and China will blow over, he said. 

"If it hasn't happened today, that means it might not happen tomorrow," Manley said. "My guess is, no news means a slight upward bias to the market." 

The yield on the 10-year Treasury note fell to 2.30 percent from 2.36 percent late Tuesday. Gold and crude oil prices rose slightly. 

Stocks closed lower on Tuesday after two reports signaled an economic slowdown in China. Supercharged growth in China over the past three years has helped sustain the global economic recovery. The Dow had its biggest loss since March 6. 

The Dow is still up 1.3 percent this month and 7.4 percent so far this year. Other indexes are up even more for the year: The S&P 500 has gained 11.6 percent; the technology-focused Nasdaq composite 18.1 percent. 

In a research report Wednesday, Goldman Sachs analysts urged investors to dump bonds and put money into stocks. The report argues that the weak economic growth in the United States and Europe is not universal, and that the 2010s could be the strongest period for world growth between 1980 and 2050. 

It also argues that, while Japan's two decades of economic stagnation in the 1990s and 2000s are a tempting comparison to what the U.S. and Europe face today, Japanese stocks were far more overvalued before Japan entered its decline. 

"We think it's time to say a 'long goodbye' to bonds, and embrace the 'long good buy' for equities as we expect them to embark on an upward trend over the next few years," the report says. 

Among stocks making big moves: 

”” Baker Hughes fell 5.8 percent, the most of any company in the S&P 500, after the oil-field services company said its profit margin would fall below last quarter's as companies shift from crude to natural gas exploration. Baker Hughes faces shortages of raw materials used in its pressure pumping business, a decline in fleet usage and higher-than-expected personnel and logistics costs. 

”” Hartford Financial jumped 1.4 percent after the company said it would get out of the annuity business and focus on property and casualty insurance, group benefits and mutual funds. Hedge fund manager John Paulson had urged Hartford to spin off businesses. 

”” Green Mountain Coffee Roasters soared 10 percent. The company said it was expanding its partnership with Starbucks to sell Starbucks' Vue coffee packs for use in Green Mountain's Keurig single-cup machines. The news relieved investors concerned that Starbucks' new single-cup Verismo coffee machine might be a competitive threat to Keurig. 

”” FSI International, which makes equipment for producing microelectronics, jumped 5.9 percent after the company reported that orders skyrocketed in the latest quarter, helping it beat analysts' forecasts.


----------



## bigdog

Source: http://finance.yahoo.com 

Signs that China's economy is weakening and Europe is slowing sent U.S. stocks lower. 

The price of crude oil dropped 2 percent Thursday to its lowest level in a week. That hurt oil stocks: Alpha Natural Resources, Consol Energy, and Noble Energy each fell 4 percent. 

The disconcerting economic news from overseas overshadowed other reports that suggested the U.S. economy is gaining momentum. 

The Dow Jones industrial average closed down 78.48 points, or 0.6 percent, at 13,046.14. 

The Standard & Poor's 500 index fell 10.11, or 0.7 percent, at 1,392.78, while the Nasdaq composite index fell 12 points, or 0.4 percent to 3,063.32. 

Eight out of 10 sectors declined in the S&P 500, led by energy and materials as investors worried about a drop in global demand for oil and raw materials. 

China has released a string of worrisome economic reports recently. The latest, on Thursday, signaled that its manufacturing sector could be contracting. A manufacturing index compiled by HSBC fell to 48.1 in March from 49.6 in February. Figures below 50 indicate that manufacturing is contracting. 

That's a negative sign because growth in China has played a key role in shoring up the global economy since the financial crisis of 2008. 

China is also the world's largest consumer of raw materials, so a slowdown there would affect those companies. US Steel Corp. tumbled 5.82 percent, and copper wire and bar manufacturer Freeport-McMoRan Copper Gold Inc. lost 3.7 percent. 		

 *The NYSE DOW closed  	LOWER ▼	-78.48	points or ▼	-0.60%	Thursday, 22 March 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,046.14	▼	-78.48	▼	-0.60%	
	Nasdaq___	3,063.32	▼	-12.00	▼	-0.39%	
	S&P_500__	1,392.78	▼	-10.11	▼	-0.72%	
	30_Yr_Bond	3.362	▼	-0.02	▼	-0.50%	

NYSE Volume	 3,740,587,250 			 		 	
Nasdaq Volume	 1,529,811,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,845.65	▼	-46.30	▼	-0.79%	
	DAX_____	6,981.26	▼	-90.06	▼	-1.27%	
	CAC_40__	3,472.46	▼	-54.91	▼	-1.56%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,364.90	▲	17.90	▲	0.41%	
	Shanghai_Comp	2,375.77	▼	-2.42	▼	-0.10%	
	Taiwan_Weight	8,059.94	▲	78.00	▲	0.98%	
	Nikkei_225____	10,127.08	▲	40.59	▲	0.40%	
	Hang_Seng____	20,901.56	▲	53.93	▲	0.22%	
	Strait_Times___	2,983.48	▼	-22.15	▼	-0.74%	

http://finance.yahoo.com/news/stocks-lower-worries-over-china-154746824.html

*Stocks lower on worries over China slowdown

Stocks sink on signs of slowdown in China and Europe; Energy shares lead market lower*

NEW YORK (AP) -- Signs that China's economy is weakening and Europe is slowing sent U.S. stocks lower. 

The price of crude oil dropped 2 percent Thursday to its lowest level in a week. That hurt oil stocks: Alpha Natural Resources, Consol Energy, and Noble Energy each fell 4 percent. 

The disconcerting economic news from overseas overshadowed other reports that suggested the U.S. economy is gaining momentum. 

The Dow Jones industrial average closed down 78.48 points, or 0.6 percent, at 13,046.14. 

The Standard & Poor's 500 index fell 10.11, or 0.7 percent, at 1,392.78, while the Nasdaq composite index fell 12 points, or 0.4 percent to 3,063.32. 

Eight out of 10 sectors declined in the S&P 500, led by energy and materials as investors worried about a drop in global demand for oil and raw materials. 

China has released a string of worrisome economic reports recently. The latest, on Thursday, signaled that its manufacturing sector could be contracting. A manufacturing index compiled by HSBC fell to 48.1 in March from 49.6 in February. Figures below 50 indicate that manufacturing is contracting. 

That's a negative sign because growth in China has played a key role in shoring up the global economy since the financial crisis of 2008. 

China is also the world's largest consumer of raw materials, so a slowdown there would affect those companies. US Steel Corp. tumbled 5.82 percent, and copper wire and bar manufacturer Freeport-McMoRan Copper Gold Inc. lost 3.7 percent. 

It didn't help that another survey in Europe also pointed to slower growth. The purchasing managers' index from Markit, a financial information company, fell to a below-forecast 48.8 points in March from 49.3 a month earlier. The index combines both the services and manufacturing sectors in Europe. 

Those signs of a deceleration in key global markets dwarfed the latest positive news on the U.S. economy. The number of Americans seeking unemployment benefits fell 5,000 to a four-year low last week, bolstering the view that the job market is strengthening. A measure of future U.S. economic activity, the Conference Board's index of leading economic indicators, rose 0.7 percent in February for the fifth straight month, more evidence that the economy is gaining momentum. 

The poor economic news from abroad also hurt FedEx Corp.'s stock, which fell 4 percent. Chief financial officer Alan Graf said the current global economic environment and higher fuel prices are driving more customers to "trade down" or choose slower methods of shipping to save money, just like they did during the recession. Investors decided to focus on his comments, rather than the company's stellar performance. FedEx's quarterly profit more than doubled between December and February after it shipped more packages and charged higher prices. 

While news out of China has been bad for global company stocks, it may provide some relief to consumers with oil prices falling. Gasoline has risen 59 cents per gallon since Jan. 1 and the average price nationwide is above $4 in at least eight states, plus the District of Columbia. 

It was a good day for IPOs. Payment processor Vantiv Inc. soared 14.7 percent in its first day of trading on the New York Stock Exchange, while email marketer ExactTarget Inc. rocketed up 32 percent on its first day of trading. 

In other corporate news: 

”” Watson Pharmaceuticals Inc. jumped 3.8 percent on reports the generic drugmaker is in talks to buy European counterpart Actavis for about $7 billion. 

”” Discover Financial Services stock rose 2.7 percent, a day after it reported a 36 percent jump in its first-quarter profit. Customers used its credit card more and racked up higher balances but also improved their payment habits. 

”” Diamond Foods Inc. declined 7.2 percent after the maker of Emerald nuts and other snacks said it is suspending dividend payments to stockholders because of a new credit agreement. 



By Pallavi Gogoi, AP Business Writer


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks eked out a small gain at the end of a rough week in which the market was weighed down by prospects of a global economic slowdown. 

The Dow on Friday closed up 34.59 points, or 0.3 percent, at 13,080.73. Financial stocks performed well, led by a 2.6 percent gain for Bank of America. 

For the week, the Dow Jones industrial average was off 152 points, the worst in a month despite reports of strengthening in the U.S. jobs market and better corporate profits. Investors were worried about a slowdown in Asia and Europe and the impact of higher oil prices on consumer spending. 

Home builders and home improvement stocks fell Friday after the Commerce Department said sales of new homes fell 1.6 percent last month. PulteGroup fell 2.6 percent and Lennar declined 1 percent, while Lowe's and Home Depot fell a little less than 1 percent. 

In other trading, the Standard & Poor's 500 index inched up 4.33 points, or 0.3 percent, to 1,397.11 and the Nasdaq composite rose 4.6 points, or 0.1 percent, to 3,067.92. 

A wide range of companies including Nike, Oracle, FedEx, and Tiffany have reported stellar earnings this week. However, those accomplishments were marred by worries of the effect of a slowdown in Asia and Europe on the companies that rely on global sales. Reports in China and Europe earlier in the week pointed to a likely slowdown in those economies. 

Nike was off 3.2 percent, FedEx down less than 1 percent and Tiffany was off 1.4 percent.	 						

 *The NYSE DOW closed  	HIGHER ▲	34.59	points or ▲	0.27%	Friday, 23 March 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,080.73	▲	34.59	▲	0.27%	
	Nasdaq___	3,067.92	▲	4.60	▲	0.15%	
	S&P_500__	1,397.11	▲	4.33	▲	0.31%	
	30_Yr_Bond	3.314	▼	-0.05	▼	-1.43%	

NYSE Volume	 3,395,176,000 			 		 	
Nasdaq Volume	 1,428,078,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,854.89	▲	9.24	▲	0.16%	
	DAX_____	6,995.62	▲	14.36	▲	0.21%	
	CAC_40__	3,476.18	▲	3.72	▲	0.11%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,360.70	▼	-4.20	▼	-0.10%	
	Shanghai_Comp	2,349.54	▼	-26.23	▼	-1.10%	
	Taiwan_Weight	8,076.61	▲	16.67	▲	0.21%	
	Nikkei_225____	10,011.47	▼	-115.61	▼	-1.14%	
	Hang_Seng____	20,668.80	▲	53.93	▼	-1.11%	
	Strait_Times___	2,990.08	▲	10.83	▲	0.36%	

http://finance.yahoo.com/news/stocks-edge-global-economic-worries-204114973.html

*Stocks edge up but global economic worries linger

Stocks close slightly higher but concerns over global slowdown linger*

By Pallavi Gogoi, AP Business Writer 

NEW YORK (AP) -- Stocks eked out a small gain at the end of a rough week in which the market was weighed down by prospects of a global economic slowdown. 

The Dow on Friday closed up 34.59 points, or 0.3 percent, at 13,080.73. Financial stocks performed well, led by a 2.6 percent gain for Bank of America. 

For the week, the Dow Jones industrial average was off 152 points, the worst in a month despite reports of strengthening in the U.S. jobs market and better corporate profits. Investors were worried about a slowdown in Asia and Europe and the impact of higher oil prices on consumer spending. 

Home builders and home improvement stocks fell Friday after the Commerce Department said sales of new homes fell 1.6 percent last month. PulteGroup fell 2.6 percent and Lennar declined 1 percent, while Lowe's and Home Depot fell a little less than 1 percent. 

In other trading, the Standard & Poor's 500 index inched up 4.33 points, or 0.3 percent, to 1,397.11 and the Nasdaq composite rose 4.6 points, or 0.1 percent, to 3,067.92. 

A wide range of companies including Nike, Oracle, FedEx, and Tiffany have reported stellar earnings this week. However, those accomplishments were marred by worries of the effect of a slowdown in Asia and Europe on the companies that rely on global sales. Reports in China and Europe earlier in the week pointed to a likely slowdown in those economies. 

Nike was off 3.2 percent, FedEx down less than 1 percent and Tiffany was off 1.4 percent. 

"Investors are scared so they're seeing a glass half empty rather than a glass half full," said Rob Lutts, president at Cabot Money Management. 

American consumers, who drive two-thirds of the economy, are spending more in stores and restaurants. But investors are worried about how long that will last if oil prices continue to rise. 

Darden Restaurants, which operates Olive Garden and Red Lobster, beat Wall Street forecasts with an 8.5 percent increase in profits after warm weather brought more people to its restaurants. But Darden stock fell 1.7 percent. 

Crude oil rose 1.4 percent after a brief downturn Thursday. Gasoline has risen 59 cents per gallon since Jan. 1 and the average price nationwide is above $4 in at least eight states, plus the District of Columbia. 

And then there is China and Europe. New surveys showed a contraction in the manufacturing sector in China, a bellwether for world demand as it produces and exports a huge amount of consumer goods. In Europe, Ireland dipped back into recession. 

However, Lutts believe the worries are overblown. "Though China is slowing, I'm not that worried because the government will do all it can to get growth back on track," he said. 

Treasury prices and gold rose. The yield on the benchmark 10-year Treasury note fell to 2.23 percent. 

In other corporate news: 

— Micron Technology fell 3.6 percent, one of the biggest drops in the S&P 500. The maker of computer chips and flash memory reported a larger loss than analysts expected after the market closed Thursday. 

— KB Home stock plunged 8.5 percent after it said there was a spike in cancellations of contracts for new homes between December and February, driving its home orders down 8 percent. Buyers canceled orders because KB Home raised prices and some mortgage lenders backed away from making loans. 

— Fertilizer maker Mosaic Co. was up 2.5 percent after JPMorgan analysts upgraded the stock for securing new contracts. 

— Morgan Stanley stock moved up 3.8 percent, after a Credit Suisse analyst upgraded its stock on an improved outlook for its investment banking business

1971


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks leapt to multi-year highs and recorded one of their biggest gains of the year Monday after Federal Reserve Chairman Ben Bernanke suggested that the economy still needs help to produce faster job growth. 

The Dow Jones industrial average climbed 160.90 points to 13,241.63, its third-best showing this year. The Standard & Poor's 500 index rose 19.40 points to 1,416.51, its highest close since May 2008. 

The Nasdaq composite index, which is closing in on a 20 percent rally for the year, climbed 54.65 points to 3,122.57, its best finish since November 2000. 

Health care stocks led the market. The Supreme Court heard the first of three days of arguments on the constitutionality of President Barack Obama's 2010 health care law, which will require Americans to carry insurance or pay a penalty. 

Health care stocks gained 1.7 percent as a group. Aetna gained 3.1 percent, WellPoint 2.9 percent and UnitedHealth Group 2.7 percent. The court is expected to decide the case in June. 

Bernanke, speaking to a group of economists, sounded pessimistic about jobs even though the country added an average of 245,000 jobs each month since December and the unemployment rate has fallen steadily since last summer. 

He noted that the number of people working and the hours they work are well below where they stood before the 2008 financial crisis. He also suggested that some of the decline in the rate was because discouraged workers gave up looking for work. 

Bernanke's comments could mean two things for the market. 

On one hand, they suggest that he believes the Fed needs to continue to prop up the economy ”” by keeping short-term interest rates near zero and perhaps by buying more bonds later. 

"It's been a while since we've had any real direction saying we need a bigger push to clean up unemployment," said Chip Cobb, senior vice president of Bryn Mawr Trust Asset Management in Pennsylvania. "Now we're looking for more stimulus again. It's like we can't get enough." 	 						

 *The NYSE DOW closed  	HIGHER ▲	160.90	points or ▲	1.23%	Monday, 26 March 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,241.63	▲	160.90	▲	1.23%	
	Nasdaq___	3,122.57	▲	54.65	▲	1.78%	
	S&P_500__	1,416.51	▲	19.40	▲	1.39%	
	30_Yr_Bond	3.330	▲	0.02	▲	0.48%	

NYSE Volume	 3,467,794,000 			 		 	
Nasdaq Volume	 1,625,670,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,902.70	▲	47.81	▲	0.82%	
	DAX_____	7,079.23	▲	83.61	▲	1.20%	
	CAC_40__	3,501.98	▲	25.80	▲	0.74%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,355.20	▼	-5.50	▼	-0.13%	
	Shanghai_Comp	2,350.60	▲	1.06	▲	0.05%	
	Taiwan_Weight	7,967.62	▼	-108.99	▼	-1.35%	
	Nikkei_225____	10,018.24	▲	6.77	▲	0.07%	
	Hang_Seng____	20,668.86	▲	53.93	▲	0.00%	
	Strait_Times___	2,974.50	▼	-15.58	▼	-0.52%	

http://finance.yahoo.com/news/big-gain-stocks-bernanke-remarks-160233701.html

*Big gain for stocks after Bernanke remarks

Stocks rise sharply after Bernanke suggests economy still needs help*

By Christina Rexrode, AP Business Writer

NEW YORK (AP) -- Stocks leapt to multi-year highs and recorded one of their biggest gains of the year Monday after Federal Reserve Chairman Ben Bernanke suggested that the economy still needs help to produce faster job growth. 

The Dow Jones industrial average climbed 160.90 points to 13,241.63, its third-best showing this year. The Standard & Poor's 500 index rose 19.40 points to 1,416.51, its highest close since May 2008. 

The Nasdaq composite index, which is closing in on a 20 percent rally for the year, climbed 54.65 points to 3,122.57, its best finish since November 2000. 

Health care stocks led the market. The Supreme Court heard the first of three days of arguments on the constitutionality of President Barack Obama's 2010 health care law, which will require Americans to carry insurance or pay a penalty. 

Health care stocks gained 1.7 percent as a group. Aetna gained 3.1 percent, WellPoint 2.9 percent and UnitedHealth Group 2.7 percent. The court is expected to decide the case in June. 

Bernanke, speaking to a group of economists, sounded pessimistic about jobs even though the country added an average of 245,000 jobs each month since December and the unemployment rate has fallen steadily since last summer. 

He noted that the number of people working and the hours they work are well below where they stood before the 2008 financial crisis. He also suggested that some of the decline in the rate was because discouraged workers gave up looking for work. 

Bernanke's comments could mean two things for the market. 

On one hand, they suggest that he believes the Fed needs to continue to prop up the economy ”” by keeping short-term interest rates near zero and perhaps by buying more bonds later. 

"It's been a while since we've had any real direction saying we need a bigger push to clean up unemployment," said Chip Cobb, senior vice president of Bryn Mawr Trust Asset Management in Pennsylvania. "Now we're looking for more stimulus again. It's like we can't get enough." 

Others focused on Bernanke's remarks that some recent hiring is merely companies making up for laying off too many people in 2009, rather than a sign of a growing economy. 

That could be a relief to investors who were worried that labor costs would grow too quickly and shrink earnings, said Paul Zemsky, head of asset allocation at ING Investment Management in New York. 

Some of the jump in stocks could also be because money managers are piling into stocks before the first quarter ends this week. Fund managers who missed out on this quarter's rally will want to show clients they are invested for the next quarter. 

"It may not be a wise investment decision, but I think it happens," said Brian Lazorishak, portfolio manager at Chase Investment Counsel in Charlottesville, Va. 

Stocks mostly rose in Europe. Germany's DAX index climbed 1.2 percent after a measure of business confidence in that country rose for the fifth month in a row. France's CAC-40 rose 0.7 percent, and in London, the FTSE rose 0.8 percent. 

The euro gained less than a penny against the dollar, to $1.335. Gold rose $23.20 to $1,685.60 an ounce. 

The yield on the 10-year Treasury note rose to 2.25 percent from 2.23 percent late Friday. Rising yields are a sign that investors are willing to take money out of safer government bonds and put it into riskier investments like stocks. 

The price of crude oil settled at $107.03, up 16 cents, and the average price of gasoline hit $3.90 per gallon. Last year's peak was $3.98 but that was set in May, when the summer driving season begins and prices usually rise. 

Among stocks making moves Monday: 

”” Lions Gate Entertainment climbed 4.5 percent after its movie "The Hunger Games" had a record-setting opening weekend. 

”” Select Comfort Corp., which makes Sleep Number beds, climbed 3.3 percent after KeyBanc reiterated its "buy" rating on the stock and said shipments across the mattress industry were up in February. 

”” American Express climbed 2.5 percent after announcing that it will raise its quarterly dividend to 20 cents from 18 cents. It is the company's first dividend increase since November 2007. 

”” Tenet Healthcare rose 5.5 percent after the hedge fund Glenview Capital Management disclosed that it has taken a 5.5 percent stake in the company. That makes it Tenet's fifth-largest shareholder. 

”” Safeway, the grocery chain, fell 3.4 percent, worst in the S&P 500, after a Credit Suisse analyst downgraded his rating on the company. The analyst said a pension liability could cause its costs to rise.


----------



## bigdog

Source: http://finance.yahoo.com 

Major stock indexes dipped Tuesday as weak readings on consumer confidence gave investors little reason to extend the recent rally. 

The Dow Jones industrial average dropped 43.90 points to close at 13,197.73, a loss of 0.3 percent. Bank of America fell 3.3 percent, the biggest drop in the Dow, after an analyst downgraded the stock. 

Major indexes opened higher, then pulled back after 10 a.m., when the Conference Board said its index of consumer confidence slipped in March. Higher gas prices offset the surging stock market. Around the same time, the Federal Reserve Bank of Richmond, Virginia reported that a measure of regional manufacturing plunged this month. 

Other indexes edged lower. The Standard & Poor's 500 index dropped 3.99 points to 1,412.52. The Nasdaq composite fell 2.22 points to 3,120.35. 

More than four stocks fell for every three that rose on the New York Stock Exchange. Trading volume was well below average at 3.4 billion. 

The S&P 500 index and the Nasdaq are up more than 1 percent for the week. The S&P 500 has already gained 12.3 percent to start the year. That three-month surge easily beats the 8 percent return most fund managers hope to make in a whole year. The Nasdaq is up even more for the year, 19.8 percent. 

Brian Gendreau, market strategist at Cetera Financial, said the stock market still has room to go higher even after such a strong start. Companies in the S&P 500 index are trading for around 13 times their expected earnings over the next year, below the average of 14.6 times over the past decade. And there's plenty of cash still tucked away in the Treasury market. 

"Compared to bonds, stocks remain very attractive," Gendreau said. "That doesn't tell you if we'll get a move in a week or a month from now, but it does tell you that there's a lot of pent-up demand." 	 						

 *The NYSE DOW closed  	LOWER ▼	-43.90	points or ▼	-0.33%	Tuesday, 27 March 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,197.73	▼	-43.90	▼	-0.33%	
	Nasdaq___	3,120.35	▼	-2.22	▼	-0.07%	
	S&P_500__	1,412.52	▼	-3.99	▼	-0.28%	
	30_Yr_Bond	3.300	▼	-0.03	▼	-0.90%	

NYSE Volume	 3,474,068,000 			 		 	
Nasdaq Volume	 1,660,968,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,869.55	▼	-33.15	▼	-0.56%	
	DAX_____	7,078.90	▼	-0.33	▲	0.00%	
	CAC_40__	3,469.59	▼	-32.39	▼	-0.92%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,391.60	▲	36.40	▲	0.84%	
	Shanghai_Comp	2,347.18	▼	-3.42	▼	-0.15%	
	Taiwan_Weight	8,029.46	▲	61.84	▲	0.78%	
	Nikkei_225____	10,255.15	▲	236.91	▲	2.36%	
	Hang_Seng____	21,046.91	▲	53.93	▲	1.83%	
	Strait_Times___	3,015.63	▲	41.13	▲	1.38%	

http://finance.yahoo.com/news/stocks-edge-lower-consumer-confidence-201403025.html

*Stocks edge lower after consumer confidence report

Stocks drift lower following dip in consumer confidence; Lennar leads housing stocks up*

By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Major stock indexes dipped Tuesday as weak readings on consumer confidence gave investors little reason to extend the recent rally. 

The Dow Jones industrial average dropped 43.90 points to close at 13,197.73, a loss of 0.3 percent. Bank of America fell 3.3 percent, the biggest drop in the Dow, after an analyst downgraded the stock. 

Major indexes opened higher, then pulled back after 10 a.m., when the Conference Board said its index of consumer confidence slipped in March. Higher gas prices offset the surging stock market. Around the same time, the Federal Reserve Bank of Richmond, Virginia reported that a measure of regional manufacturing plunged this month. 

Other indexes edged lower. The Standard & Poor's 500 index dropped 3.99 points to 1,412.52. The Nasdaq composite fell 2.22 points to 3,120.35. 

More than four stocks fell for every three that rose on the New York Stock Exchange. Trading volume was well below average at 3.4 billion. 

The S&P 500 index and the Nasdaq are up more than 1 percent for the week. The S&P 500 has already gained 12.3 percent to start the year. That three-month surge easily beats the 8 percent return most fund managers hope to make in a whole year. The Nasdaq is up even more for the year, 19.8 percent. 

Brian Gendreau, market strategist at Cetera Financial, said the stock market still has room to go higher even after such a strong start. Companies in the S&P 500 index are trading for around 13 times their expected earnings over the next year, below the average of 14.6 times over the past decade. And there's plenty of cash still tucked away in the Treasury market. 

"Compared to bonds, stocks remain very attractive," Gendreau said. "That doesn't tell you if we'll get a move in a week or a month from now, but it does tell you that there's a lot of pent-up demand." 

Earnings from Lennar Corp. pulled housing stocks up. The country's third-largest builder reported quarterly profits that beat analysts' estimates by delivering more houses and pulling in more orders. Lennar rose 4.7 percent, the best gain in the S&P 500 index. PulteGroup rose 3.6 percent, D.R. Horton 2.8 percent. 

The economic reports on consumer confidence and regional manufacturing helped push up prices in the U.S. government debt market, where traders park funds when the economy looks sluggish. The 10-year Treasury note rose 53 cents for every $100 invested. The yield fell to 2.18 percent from 2.26 percent late Monday. 

Demand for Treasurys has pulled yields down from highs reached last week. The yield on the 10-year note touched 2.4 percent last Tuesday, the highest yield since October. 

Natural gas prices fell again Tuesday on rising supplies and warmer winter weather. Natural gas futures fell 1.8 cents to $2.21 per 1,000 cubic feet. That's near a 10-year low and half of what natural gas fetched back in July. 

Any money that consumers are saving on natural gas could wind up in the gasoline tank. The national average for regular gasoline in the U.S. is $3.90 per gallon. It's risen 62 cents since Jan. 1. 

Among stocks making big moves: 

”” Walgreen Co. rose 1.2 percent. The drugstore chain posted a drop in quarterly earnings but the results still topped analysts' expectations. 

”” Apollo Group Inc. fell 8.5 percent, the biggest drop in the S&P 500. The for-profit education company reported a profit in the most recent quarter but issued a dim forecast. Apollo expects fewer students to enroll in the coming quarter. 

”” Ista Pharmaceuticals Inc. leapt 7.8 percent on news that Bausch & Lomb plans to buy the drug maker for roughly $500 million in cash. Ista gets most of its revenue from Bromday, an eye drop for patients recovering from cataract surgery. Bausch & Lomb plans to pay $9.10 per share for Ista, a 72-cent premium over Monday's closing price. Bausch & Lomb is privately held.


----------



## bigdog

Source: http://finance.yahoo.com 

Falling commodity prices punished materials and energy companies Wednesday, pushing Wall Street's major stock indexes to a lower close.

Materials fell the most among the 10 industry groups in the Standard & Poor's 500 index. Aluminum producer Alcoa Inc. fell 2.6 percent. The only stock in the Dow Jones industrial average that lost more was heavy equipment maker Caterpillar Inc., which dropped 3.5 percent.

All three major indexes lost a half-percent. The Dow closed down 71.52 points at 13,126.21. The broader S&P 500 index lost 6.98 to 1,405.54. The Nasdaq composite index, heavy with technology stocks, fell 15.39 to 3,104.96.

One bright spot was the strong debut of Annie's Inc., a company that sells prepared organic foods. In its first day of trading on the New York Stock Exchange, Annie's leapt 89 percent to $35.92. The company, based in Berkeley, Calif., had priced its shares at $19 late Tuesday.

The broad declines came in spite of a government report that orders for durable goods rose strongly last month, a sign that businesses continue to invest.

The Commerce Department said before the market opened that orders for durable goods, which are defined as products expected to last at least three years, rose 2.2 percent in February. Orders for machinery, computers, autos and aircraft led the rise.

The positive economic news reduced demand for U.S. Treasury debt. The yield on the 10-year Treasury rose to 2.21 percent from 2.19 percent before the report. As stocks fell, traders again sought the safety of Treasurys and the yield fell back to 2.20 percent.

Health insurance companies declined more than the broader market as the U.S. Supreme Court wrapped up oral arguments in a challenge to President Barack Obama's massive health care overhaul. Aetna Inc. and Health Net Inc. lost 1 percent; Catalyst Health Solutions fell 1.4 percent.

Insurers lost ground because of tough questions from key justices, a signal to some observers that they might strike down the law. Dave Shove, an analyst with BMO Capital Markets, said most people expect the law to help big health insurers by extending coverage to millions more Americans.

"Stocks are following what most people think, which is that these exchanges were going to be a fairly good thing for insurers and bring a bunch of the uninsured in," Shove said, referring to the health policy exchanges where uninsured people would be able to buy coverage.	 						

 *The NYSE DOW closed  	LOWER ▼	-71.52	points or ▼	-0.54%	Wednesday, 28 March 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,126.21	▼	-71.52	▼	-0.54%	
	Nasdaq___	3,104.96	▼	-15.39	▼	-0.49%	
	S&P_500__	1,405.54	▼	-6.98	▼	-0.49%	
	30_Yr_Bond	3.304	▲	0.00	▲	0.12%	

NYSE Volume	 3,854,130,750 			 		 	
Nasdaq Volume	 1,764,716,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,808.99	▼	-60.56	▼	-1.03%	
	DAX_____	6,998.80	▼	-80.10	▼	-1.13%	
	CAC_40__	3,430.15	▼	-39.44	▼	-1.14%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,431.50	▲	39.90	▲	0.91%	
	Shanghai_Comp	2,284.88	▼	-62.30	▼	-2.65%	
	Taiwan_Weight	8,038.07	▲	8.61	▲	0.11%	
	Nikkei_225____	10,182.57	▼	-72.58	▼	-0.71%	
	Hang_Seng____	20,885.42	▲	53.93	▼	-0.77%	
	Strait_Times___	3,015.98	▼	-2.93	▼	-0.10%	

*Falling commodity prices lower stocks

Falling commodity prices pushed stocks lower Wednesday. The Dow fell 71 points to close at 13126, and all three major indexes lost at least a half percent.*

By Daniel Wagner, AP Business writer

Falling commodity prices punished materials and energy companies Wednesday, pushing Wall Street's major stock indexes to a lower close.

Materials fell the most among the 10 industry groups in the Standard & Poor's 500 index. Aluminum producer Alcoa Inc. fell 2.6 percent. The only stock in the Dow Jones industrial average that lost more was heavy equipment maker Caterpillar Inc., which dropped 3.5 percent.

All three major indexes lost a half-percent. The Dow closed down 71.52 points at 13,126.21. The broader S&P 500 index lost 6.98 to 1,405.54. The Nasdaq composite index, heavy with technology stocks, fell 15.39 to 3,104.96.

One bright spot was the strong debut of Annie's Inc., a company that sells prepared organic foods. In its first day of trading on the New York Stock Exchange, Annie's leapt 89 percent to $35.92. The company, based in Berkeley, Calif., had priced its shares at $19 late Tuesday.

The broad declines came in spite of a government report that orders for durable goods rose strongly last month, a sign that businesses continue to invest.

The Commerce Department said before the market opened that orders for durable goods, which are defined as products expected to last at least three years, rose 2.2 percent in February. Orders for machinery, computers, autos and aircraft led the rise.

The positive economic news reduced demand for U.S. Treasury debt. The yield on the 10-year Treasury rose to 2.21 percent from 2.19 percent before the report. As stocks fell, traders again sought the safety of Treasurys and the yield fell back to 2.20 percent.

Health insurance companies declined more than the broader market as the U.S. Supreme Court wrapped up oral arguments in a challenge to President Barack Obama's massive health care overhaul. Aetna Inc. and Health Net Inc. lost 1 percent; Catalyst Health Solutions fell 1.4 percent.

Insurers lost ground because of tough questions from key justices, a signal to some observers that they might strike down the law. Dave Shove, an analyst with BMO Capital Markets, said most people expect the law to help big health insurers by extending coverage to millions more Americans.

"Stocks are following what most people think, which is that these exchanges were going to be a fairly good thing for insurers and bring a bunch of the uninsured in," Shove said, referring to the health policy exchanges where uninsured people would be able to buy coverage.

Shove said his firm has a contrarian view, namely that the law "is much less disruptive to the marketplace" than many people expect.

Many investors are holding back on major trades as they await news later this week on Europe's progress in resolving its debt crisis, said Andrew Goldberg, global market strategist with J.P. Morgan Funds.

"Investors know Europe is still in crisis" and fear a steeper drop if markets are spooked by a meeting of European finance ministers that begins Thursday and Spain's budget announcement on Friday, Goldberg said.

European markets closed sharply lower. London's FTSE 100 dropped 1 percent; benchmark indexes in France and Germany dropped 1.1 percent.

Futures for crude, natural gas, heating oil and gasoline all fell Wednesday, with crude leading the way. Oil prices fell after a report suggesting a larger-than-expected jump in U.S. crude supplies, a sign that demand remains weak.

If consumers get a break on what they have to pay for energy, that could provide a bump for the U.S. economy.

In corporate news:

”” Sealy Corp. rose 6.4 percent after the mattress maker reported a surprise profit in the first quarter of 1 cent per share. Analysts surveyed by FactSet had expected a loss of 2 cents per share.

”” Medco Health Solutions Inc. jumped 3.2 percent after the company said its $29.1 billion merger with Express Scripts Inc. could close as early as next week. Express Scripts rose 1.3 percent.

”” JoS A. Bank Clothiers Inc. plunged 8.6 percent after the company said its first quarter began weakly because the mild winter weather crimped demand.


----------



## bigdog

Source: http://finance.yahoo.com 

Rising consumer spending boosted stocks on Friday, and Wall Street closed its best first quarter since 1998. 

The Dow Jones industrial average rose 66.22 points to close at 13,212.04. The Standard & Poor's 500 index rose 5.19 points to close at 1,408.47. The Nasdaq composite barely moved, falling 3.79 points to close at 3,091.57. 

For the quarter, the Dow posted an 8 percent gain and the S&P a 12 percent gain, the best for those indexes in 14 years. The gain was 19 percent for the Nasdaq, its best since 1991. 

The Commerce Department said consumer spending rose in February at the fastest rate in seven months. Strong hiring over the past three months has added up to the best jobs growth in two years, putting more people back to work. 

Americans spent more even though their income has stagnated for two months after taxes and inflation. Some of the increased spending has gone to gasoline, which is the most expensive on record for this time of year. Oil prices rose again on Friday, up 23 cents in New York to $103.02 per barrel. 

Nine out of 10 industry groups in the S&P 500 rose. The biggest-gaining category was energy stocks, although refiners fell because of the higher oil prices. Health care stocks rose, too, with two of the biggest gainers being health insurers UnitedHealth Group Inc. and WellPoint Inc. Technology stocks fell slightly. 

Some of the buying could be driven by end-of-the-quarter efforts by fund managers to get into stocks now that they have become popular again, said Jim Russell, a regional investment director for US Bank Wealth Management. And individual investors who have been relying on bonds appear to be getting back into the market, too, he said. 

"We are very heartened to see the retail investor stop playing one key on the piano — that is, all bonds, all the time," he said. 					

 *The NYSE DOW closed  	HIGHER ▲	66.22	points or ▲	0.50%	Saturday, 31 March 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,212.04	▲	66.22	▲	0.50%	
	Nasdaq___	3,091.57	▼	-3.79	▼	-0.12%	
	S&P_500__	1,408.47	▲	5.19	▲	0.37%	
	30_Yr_Bond	3.350	▲	0.07	▲	2.26%	

NYSE Volume	 3,683,487,000 			 		 	
Nasdaq Volume	 1,846,421,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,768.45	▲	26.42	▲	0.46%	
	DAX_____	6,946.83	▲	71.68	▲	1.04%	
	CAC_40__	3,423.81	▲	42.69	▲	1.26%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,420.00	▼	-2.00	▼	-0.05%	
	Shanghai_Comp	2,262.79	▲	10.63	▲	0.47%	
	Taiwan_Weight	7,933.00	▲	60.34	▲	0.77%	
	Nikkei_225____	10,083.56	▼	-31.23	▼	-0.31%	
	Hang_Seng____	20,555.58	▲	53.93	▼	-0.26%	
	Strait_Times___	3,010.46	▲	16.37	▲	0.55%	

http://finance.yahoo.com/news/stocks-rise-extending-best-start-155523876.html

*Stocks rise, extending best start since 1998

Stocks rise on increased consumer spending; market heads for best start since 1998*

By Joshua Freed, AP Business Writer

Rising consumer spending boosted stocks on Friday, and Wall Street closed its best first quarter since 1998. 

The Dow Jones industrial average rose 66.22 points to close at 13,212.04. The Standard & Poor's 500 index rose 5.19 points to close at 1,408.47. The Nasdaq composite barely moved, falling 3.79 points to close at 3,091.57. 

For the quarter, the Dow posted an 8 percent gain and the S&P a 12 percent gain, the best for those indexes in 14 years. The gain was 19 percent for the Nasdaq, its best since 1991. 

The Commerce Department said consumer spending rose in February at the fastest rate in seven months. Strong hiring over the past three months has added up to the best jobs growth in two years, putting more people back to work. 

Americans spent more even though their income has stagnated for two months after taxes and inflation. Some of the increased spending has gone to gasoline, which is the most expensive on record for this time of year. Oil prices rose again on Friday, up 23 cents in New York to $103.02 per barrel. 

Nine out of 10 industry groups in the S&P 500 rose. The biggest-gaining category was energy stocks, although refiners fell because of the higher oil prices. Health care stocks rose, too, with two of the biggest gainers being health insurers UnitedHealth Group Inc. and WellPoint Inc. Technology stocks fell slightly. 

Some of the buying could be driven by end-of-the-quarter efforts by fund managers to get into stocks now that they have become popular again, said Jim Russell, a regional investment director for US Bank Wealth Management. And individual investors who have been relying on bonds appear to be getting back into the market, too, he said. 

"We are very heartened to see the retail investor stop playing one key on the piano — that is, all bonds, all the time," he said. 

Apple fell 1.7 percent after a company that makes its iPhones and iPads said it would effectively raise per-hour wages at its factories in China, suggesting that manufacturing prices could rise. 

Shares of BlackBerry maker Research in Motion Ltd. rose 6.6 percent a day after the Canadian company said it would return to focusing on corporate customers and shake up its management to try to get profits growing again. 

Corn prices surged 6.6 percent on news that suppliers are tighter than previously thought. Higher corn plus higher oil prices points toward higher food prices. Grocer stocks fell: Supervalu Inc. was down 3.7 percent, and Safeway Inc. fell 1.3 percent. 

Best Buy closed down 4.4 percent as investors continued to digest its plan to cut stores and staff as it shifts toward smaller stores in an effort to compete with online retailers. Best Buy stock lost almost 7 percent on Thursday. 

Sports apparel maker Finish Line Inc. fell 16 percent after it predicted a lower-than-expected first-quarter profit. 

European markets bounced back after a rocky week that included a national strike in Spain. On Friday, the country unveiled a draft 2012 budget that seeks to cut the deficit by $36 billion through spending cuts and a tax hike on large companies. But Spain also plans to cut government ministry spending by an average of nearly 17 percent. 

Germany's DAX closed up 1 percent at 6,947, while the CAC-40 in France rose 1.3 percent to 3,424. The FTSE 100 index of leading British shares was up 0.5 percent to 5,768. The euro rose half a penny against the dollar, to $1.3334. 

Asian markets took a hit after some poor factory production numbers from Japan. 

The yield on the benchmark 10-year U.S. Treasury note rose to 2.22 percent from 2.16 percent late Thursday. Treasury yields have risen two months in a row as investors feel more comfortable moving out of bonds and into riskier assets like stocks.

2787


----------



## bigdog

Source: http://finance.yahoo.com 

A positive report on U.S. manufacturing overshadowed concerns about weaker global growth and lifted stocks to multi-year highs Monday. The gain added to the best first quarter for stocks in more than a decade. 

The Institute for Supply Management said that its index of manufacturing activity rose strongly this month. A measure of manufacturing employment rose to a nine-month high. 

Stocks in the U.S. and Europe had tilted negative but rose after the ISM report. The S&P 500 closed up 10.57 points, or 0.8 percent, at 1,419.04. That was its highest close since May 19, 2008. 

The Dow Jones industrial average added 52.45 points, or 0.4 percent, to close at 13,264.49. It hasn't closed that high since the last day of 2007. The Nasdaq composite average gained 28.13, or 0.9 percent, to 3,119.70. 

From January through March, the Dow rose 8 percent and the S&P 12 percent, the best first quarter for those indexes since 1998. The Nasdaq rose 19 percent, its best first quarter since 1991. 

Groupon plunged 17 percent on the first trading day after the company said its internal controls are weak and its fourth-quarter loss was bigger than initially reported. 

Still, the rally was broad, lifting all 10 of the S&P 500's industry groups. Rising commodity prices gave materials and energy companies some of the strongest gains. 

A weaker report on U.S. construction activity kept traders' enthusiasm in check. Builders slowed their activity for a second straight month in February, pushing construction spending down by the largest amount in seven months.		

 *The NYSE DOW closed  	HIGHER ▲	52.45	points or ▲	0.40%	Monday, 2 April 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,264.49	▲	52.45	▲	0.40%	
	Nasdaq___	3,119.70	▲	28.13	▲	0.91%	
	S&P_500__	1,419.04	▲	10.57	▲	0.75%	
	30_Yr_Bond	3.338	▼	-0.01	▼	-0.21%	

NYSE Volume	 3,571,908,000 			 		 	
Nasdaq Volume	 1,778,994,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,874.89	▲	132.86	▲	2.31%	
	DAX_____	7,056.65	▲	109.82	▲	1.58%	
	CAC_40__	3,462.91	▲	39.10	▲	1.14%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,416.40	▼	-3.60	▼	-0.08%	
	Shanghai_Comp	2,262.79	▲	10.63	▲	0.47%	
	Taiwan_Weight	7,862.90	▼	-70.10	▼	-0.88%	
	Nikkei_225____	10,109.87	▲	26.31	▲	0.26%	
	Hang_Seng____	20,522.26	▲	53.93	▼	-0.16%	
	Strait_Times___	3,016.07	▲	5.61	▲	0.19%	

http://finance.yahoo.com/news/us-stocks-rise-building-soaring-201852544.html

*US stocks rise, building on soaring first quarter

US stocks rise after strong report on US factories, building on blockbuster first quarter*

By Daniel Wagner, AP Business Writer

A positive report on U.S. manufacturing overshadowed concerns about weaker global growth and lifted stocks to multi-year highs Monday. The gain added to the best first quarter for stocks in more than a decade. 

The Institute for Supply Management said that its index of manufacturing activity rose strongly this month. A measure of manufacturing employment rose to a nine-month high. 

Stocks in the U.S. and Europe had tilted negative but rose after the ISM report. The S&P 500 closed up 10.57 points, or 0.8 percent, at 1,419.04. That was its highest close since May 19, 2008. 

The Dow Jones industrial average added 52.45 points, or 0.4 percent, to close at 13,264.49. It hasn't closed that high since the last day of 2007. The Nasdaq composite average gained 28.13, or 0.9 percent, to 3,119.70. 

From January through March, the Dow rose 8 percent and the S&P 12 percent, the best first quarter for those indexes since 1998. The Nasdaq rose 19 percent, its best first quarter since 1991. 

Groupon plunged 17 percent on the first trading day after the company said its internal controls are weak and its fourth-quarter loss was bigger than initially reported. 

Still, the rally was broad, lifting all 10 of the S&P 500's industry groups. Rising commodity prices gave materials and energy companies some of the strongest gains. 

A weaker report on U.S. construction activity kept traders' enthusiasm in check. Builders slowed their activity for a second straight month in February, pushing construction spending down by the largest amount in seven months. 

The conflicting U.S. economic reports followed mixed data from overseas. 

Surveys of Chinese factory executives shaded an uneven picture: A government-sanctioned report said that manufacturing there gained momentum for a fourth straight month. 

But a separate survey by megabank HSBC suggested that China's export activity is contracting. The HSBC survey recorded its lowest average reading in three years in the first quarter. 

Later, a survey of European manufacturing executives by financial data firm Markit fell to a three-month low. The result indicated that manufacturing activity there is contracting. 

Europe's statistics bureau said that unemployment in the 17 countries that use the euro has risen to 10.8 percent, the highest level since the launch of the euro in 1999. 

The nervous tone boosted demand for ultra-safe Treasurys, sending the yield on the 10-year Treasury note down to 2.19 percent from 2.24 percent earlier Monday. 

Trading on the New York Stock Exchange was lighter than average. Many traders looked ahead to the U.S. March jobs report, due out Friday. Economists expect that job creation slowed modestly after three of the strongest months for the labor market since the recession. 

European markets soared in their final 90 minutes of trading after the U.S. factory report was released. France's CAC 40 rose 1.1 percent, London's FTSE 100 gained 1.8 percent, and Germany's DAX added 1.6 percent. 

In corporate news: 

”” Avon Products Inc., which makes hair gel, makeup and watches, leaped 17 percent after the company rejected a $10 billion buyout offer from Coty Inc., a giant German perfume company. 

Avon reported a fourth-quarter loss earlier this year and is in the hunt for a new CEO. The company has struggled as it attempts to put behind it an overseas bribery investigation that began in 2008. 

”” Express Scripts rose 2 percent after it completed its $29.1 billion acquisition of Medco Health, creating the country's largest pharmacy benefits manager.


----------



## bigdog

Source: http://finance.yahoo.com 

U.S. stocks and Treasury prices dropped Tuesday after Federal Reserve policymakers said they were worried about a slowdown in hiring and appeared to resist buying more bonds to help the economy. 

The Dow Jones industrial average was down as much as 133 points after the Fed released minutes of the March meeting of its Open Market Committee, which sets interest rates and monetary policy. It had been down 45 points before the minutes were released. 

The Dow bounced back by the close to a decline of 64.94 points, or 0.5 percent, at 13,199.55. The Standard & Poor's 500 index fell 5.66 points to 1,413.38. 

The Nasdaq composite index dropped 6.13 to 3,113.57. It was the fifth loss for the Nasdaq in six trading sessions, but the index remains up almost 20 percent for the year, compared with 12 percent for the S&P. 

Utility stocks barely rose. The other nine industry groups that make up the S&P 500 fell, led by energy stocks, which declined about 1 percent as a group. 

The Fed minutes showed that policymakers fear hiring could slow if economic growth doesn't improve. The country added an average of 245,000 jobs per month from December through February, the strongest three months since the Great Recession. 

Only two of 10 voting committee members on the Fed committee said they would support another round of bond purchases, and only if the economy weakened significantly. 

The minutes did not address the logistics of more bond-buying, troubling traders of stocks and bonds who anticipate more action from the Fed, said John Canally, an economist for LPL Financial. 

The release of the minutes reduced demand for government bonds, driving prices down and yields up. The yield on the benchmark 10-year Treasury note rose to 2.31 percent from 2.16 percent earlier Tuesday. That was its highest since March 20. 		

 *The NYSE DOW closed  	LOWER ▼	-64.94	points or ▼	-0.49%	Tuesday, 3 April 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,199.55	▼	-64.94	▼	-0.49%	
	Nasdaq___	3,113.57	▼	-6.13	▼	-0.20%	
	S&P_500__	1,413.38	▼	-5.66	▼	-0.40%	
	30_Yr_Bond	3.410	▲	0.07	▲	2.16%	

NYSE Volume	 3,822,084,500 			 		 	
Nasdaq Volume	 1,814,370,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,838.34	▼	-36.55	▼	-0.62%	
	DAX_____	6,982.28	▼	-74.37	▼	-1.05%	
	CAC_40__	3,406.78	▼	-56.13	▼	-1.62%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,424.40	▲	8.00	▲	0.18%	
	Shanghai_Comp	2,262.79	▲	10.63	▲	0.47%	
	Taiwan_Weight	7,760.85	▼	-102.05	▼	-1.30%	
	Nikkei_225____	10,050.39	▼	-59.48	▼	-0.59%	
	Hang_Seng____	20,790.98	▲	53.93	▲	1.31%	
	Strait_Times___	3,014.98	▼	-1.09	▼	-0.04%	

http://finance.yahoo.com/news/us-stocks-fall-dimmer-outlook-183141407.html

*US stocks fall after dimmer outlook from Fed

US stocks fall after Federal Reserve policy minutes reveal dimmer outlook for jobs, growth*

By Daniel Wagner, AP Business Writer 

U.S. stocks and Treasury prices dropped Tuesday after Federal Reserve policymakers said they were worried about a slowdown in hiring and appeared to resist buying more bonds to help the economy. 

The Dow Jones industrial average was down as much as 133 points after the Fed released minutes of the March meeting of its Open Market Committee, which sets interest rates and monetary policy. It had been down 45 points before the minutes were released. 

The Dow bounced back by the close to a decline of 64.94 points, or 0.5 percent, at 13,199.55. The Standard & Poor's 500 index fell 5.66 points to 1,413.38. 

The Nasdaq composite index dropped 6.13 to 3,113.57. It was the fifth loss for the Nasdaq in six trading sessions, but the index remains up almost 20 percent for the year, compared with 12 percent for the S&P. 

Utility stocks barely rose. The other nine industry groups that make up the S&P 500 fell, led by energy stocks, which declined about 1 percent as a group. 

The Fed minutes showed that policymakers fear hiring could slow if economic growth doesn't improve. The country added an average of 245,000 jobs per month from December through February, the strongest three months since the Great Recession. 

Only two of 10 voting committee members on the Fed committee said they would support another round of bond purchases, and only if the economy weakened significantly. 

The minutes did not address the logistics of more bond-buying, troubling traders of stocks and bonds who anticipate more action from the Fed, said John Canally, an economist for LPL Financial. 

The release of the minutes reduced demand for government bonds, driving prices down and yields up. The yield on the benchmark 10-year Treasury note rose to 2.31 percent from 2.16 percent earlier Tuesday. That was its highest since March 20. 

The Fed has embarked on two previous rounds of bond-buying, most recently in August 2010, to drive down long-term interest rates. Low bond yields generally encourage profit-hungry investors to buy stocks. 

When it appears that bond-buying is unlikely, demand for Treasurys tends to fall. That's because the Fed is the biggest player in the market for U.S. government debt. Traders try to front-run the Fed by buying bonds because they believe demand will be strong later. 

Among the ripples in the financial markets after the Fed's announcement: 

”” The sell-off in Treasurys was broad. The price of the 30-year Treasury bond fell $2.53 per $100 invested, pushing its yield up to 3.44 percent from 3.32 percent before the Fed minutes. 

”” Gold fell $38 an ounce to $1,642 after trading almost unchanged earlier. The Fed minutes suggested inflation is under control, and traders sometimes buy gold as a hedge when they worry about inflation, driving the price up. 

”” The dollar rose against the euro, also after being virtually unchanged for most of the day. The euro was down 1.1 cents against the dollar to $1.322 in afternoon trading. Speculation that the Fed won't act typically helps the dollar. When the Fed buys bonds and other debt securities to keep rates low, that limits the returns available to investors who hold the dollar. 

Many traders were in wait-and-see mode all morning before the Fed minutes were released. Stocks drifted lower despite solid reports on auto sales and factory activity. 

Orders to factories bounced back by a solid 1.3 percent in February as businesses made more long-term investments, the Commerce Department said after the market opened. 

The news bolstered earlier signals that U.S. consumers are feeling confident enough in the economy to buy higher-cost items like cars after years of putting off major purchases. 

Chrysler said earlier that sales of its vehicles spiked by one-third last month, making March its best month in four years. Sales were helped by the introduction of small cars from the company's Fiat brand. Ford's sales rose 5 percent, General Motors' by 12 percent. 

The afternoon selling doused any enthusiasm the market carried into the week after it closed its best first quarter in more than a decade. The Dow and S&P both finished at multi-year highs Monday. 

Trading volumes have been light for about two weeks in part because there has been relatively little news to move markets. Many companies are quiet ahead of earnings season, which begins in earnest next week. 

The government will release its March jobs report on Friday. Economists expect that hiring slowed modestly last month. The report's impact on the market might be muted because markets will be closed for the beginning of Easter weekend. 

In corporate news: 

”” Molson Coors Brewing Co. fell 5.4 percent after the company made a major investment overseas, putting up more than $3.5 billion to snap up StarBev and its nine breweries in central and eastern Europe. 

”” Investment bank Morgan Stanley fell 2.2 percent after the Federal Reserve said a mortgage division had abused consumers in the foreclosure process. Morgan Stanley has since sold the division, Saxon Mortgage Services Inc., to Ocwen Financial Corp. 

”” Home products retailer Conn's Inc. surged 15.5 percent after it beat analysts' profit forecasts in the fourth quarter and boosted its earnings guidance for the upcoming year. 

”” Express Scripts Inc. gained another 3.9 percent a day after completing its $29.1 billion acquisition of Medco Health Solutions, forming the largest pharmacy benefits manager in the country. The stock is up 6.4 percent this week.


----------



## bigdog

Source: http://finance.yahoo.com 

European debt flared again as a worry for Wall Street and drove stocks Wednesday to their worst loss in a month. The Dow Jones industrial average lost 125 points, and the price of gold plunged to its lowest level since January. 

It was only the second time this year the Dow has recorded a triple-digit decline. The average gained 8 percent from January through March, its best first quarter since 1998, but has lost 1 percent already in April. 

The Dow was down as much as 179 points earlier in the day. It recovered to close down 124.80 at 13,074.75. Only four of the 30 stocks that make up the average rose for the day. 

A disappointing auction of government debt in Spain signaled that investor confidence in that country's finances is weakening. Spain announced tax increases and budget cuts last week, which could hurt its economy further. 

Bond yields in Spain shot higher, making it more expensive for the country to raise money. Benchmark stock indexes fell 2.8 percent in Germany, 2.7 percent in France and 2.3 percent in Britain. 

Investors had scarcely stopped worrying about the fate of Greece when Spain took its place as the flashpoint of the debt crisis that has hobbled Europe for more than two years. 

"It's like when cockroaches appear: You're never quite sure how many are out there," said John Manley, chief equity strategist for Wells Fargo Advantage Funds. 

In the U.S., the Standard & Poor's 500 index finished down 14.42 at 1,398.96. The technology-heavy Nasdaq composite index fell 45.48 to 3,068.09, its worst decline of the year and the sixth loss in seven days. 

 *The NYSE DOW closed  	LOWER ▼	-124.80	points or ▼	-0.95%	Wednesday, 4 April 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,074.75	▼	-124.80	▼	-0.95%	
	Nasdaq___	3,068.09	▼	-45.48	▼	-1.46%	
	S&P_500__	1,398.96	▼	-14.42	▼	-1.02%	
	30_Yr_Bond	3.380	▼	-0.03	▼	-0.88%	

NYSE Volume	 3,859,540,000 			 		 	
Nasdaq Volume	 1,815,702,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,703.77	▼	-134.57	▼	-2.30%	
	DAX_____	6,784.06	▼	-198.22	▼	-2.84%	
	CAC_40__	3,313.47	▼	-93.31	▼	-2.74%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,418.90	▼	-5.50	▼	-0.12%	
	Shanghai_Comp	2,262.79	▲	10.63	▲	0.47%	
	Taiwan_Weight	7,760.85	▼	-102.05	▼	-1.30%	
	Nikkei_225____	9,819.99	▼	-230.40	▼	-2.29%	
	Hang_Seng____	20,790.98	▲	53.93	▲	1.31%	
	Strait_Times___	2,985.04	▼	-29.94	▼	-0.99%	

http://finance.yahoo.com/news/stocks-suffer-worst-loss-month-205429462.html

*Stocks suffer worst loss in a month; Dow off 125

US stocks fall sharply, following European markets lower, after Spain's weak bond auction*

By Pallavi Gogoi, AP Business Writer 

NEW YORK (AP) -- European debt flared again as a worry for Wall Street and drove stocks Wednesday to their worst loss in a month. The Dow Jones industrial average lost 125 points, and the price of gold plunged to its lowest level since January. 

It was only the second time this year the Dow has recorded a triple-digit decline. The average gained 8 percent from January through March, its best first quarter since 1998, but has lost 1 percent already in April. 

The Dow was down as much as 179 points earlier in the day. It recovered to close down 124.80 at 13,074.75. Only four of the 30 stocks that make up the average rose for the day. 

A disappointing auction of government debt in Spain signaled that investor confidence in that country's finances is weakening. Spain announced tax increases and budget cuts last week, which could hurt its economy further. 

Bond yields in Spain shot higher, making it more expensive for the country to raise money. Benchmark stock indexes fell 2.8 percent in Germany, 2.7 percent in France and 2.3 percent in Britain. 

Investors had scarcely stopped worrying about the fate of Greece when Spain took its place as the flashpoint of the debt crisis that has hobbled Europe for more than two years. 

"It's like when cockroaches appear: You're never quite sure how many are out there," said John Manley, chief equity strategist for Wells Fargo Advantage Funds. 

In the U.S., the Standard & Poor's 500 index finished down 14.42 at 1,398.96. The technology-heavy Nasdaq composite index fell 45.48 to 3,068.09, its worst decline of the year and the sixth loss in seven days. 

Crude oil fell $2.54 a barrel to $101.47, its lowest level since mid-February. Investors looking for safe places to park money drove prices for U.S. government debt and the value of the dollar higher. 

The euro fell as low as $1.3106, its lowest point against the dollar in more than two weeks. It traded at $1.3217 late Tuesday. 

Commodity prices fell sharply. Gold plunged $57.90, or 3.5 percent, to $1,614.10 an ounce. Many investors hold gold as a hedge against a weakening dollar. 

Gold doubled in price after the 2008 financial crisis and almost hit $1,900 an ounce, driven partly by fear about the global economy and partly by investors who saw an opportunity to make money from gold's strong rally. 

Silver fell more than 6 percent Wednesday, and copper fell 3 percent. The price of crude oil fell $2.54 per barrel to $101.47, its first close below $102 since mid-February. 

On Tuesday, minutes from the last meeting of the Federal Reserve showed that members had a sunnier view of the economy because of strong gains in the job market in December, January and February. 

The Fed signaled that because the economy is improving, it is unlikely to buy bonds to stimulate the economy further. The Fed launched bond-buying programs in 2008 and 2010 to lower interest rates and help stock prices. 

Payroll processor ADP said Wednesday that the economy added 209,000 private-sector jobs in March. Economists think the government's monthly unemployment report on Friday will show a gain of 210,000 for March. Job growth averaged 245,000 from December through February. 

Traders sold European bonds and bought safer investments such as German bunds and U.S. Treasurys. The yield on the 10-year Treasury note fell to 2.23 percent from 2.29 percent late Tuesday. 

Bank stocks, which typically decline when the European debt crisis flares, dropped sharply. Citigroup dropped 3.6 percent, Morgan Stanley fell 3.5 percent, JPMorgan Chase 2.2 percent and Bank of America 3 percent. 

"Despite the relatively strong run we've had in the U.S., there's a number of headwinds out there, the main one being Europe," said Bernie Kavanagh, vice president portfolio management at the investment firm Stifel Financial. 

The stocks of materials and mining companies fell. Newmont Mining was down 3.6 percent, while Freeport-McMoran Copper fell 1.4 percent. Aluminum maker Alcoa Inc. fell 2.5 percent, one of the biggest declines in the Dow. 

In other corporate news: 

”” Sears fell 7.4 percent. The retailer is reportedly planning to sell the casual clothing line Lands' End, which it acquired in 2002. 

”” SanDisk, which makes memory cards and chips, plunged 11 percent, the most in the S&P, after the company cut its forecast for first-quarter revenue because of weaker demand and lower prices. 

”” Home marketer Hovnanian Enterprises Inc. dropped 8.5 percent on fears that a public stock offering of 25 million shares would dilute share value. The company is selling stock to reduce debt. 

”” GMX Resources, an independent oil and gas producer, shot up 24 percent after the company reported that a well drilled in McKenzie County, North Dakota was producing oil at a 50 percent higher rate than a nearby well.


----------



## bigdog

Source: http://finance.yahoo.com 

*NYSE Good Friday holiday tomorrow April 6*

Stocks just had their worst week of the new year. 

The Standard & Poor's 500 ended a shortened trading week down 0.7 percent. Though modest compared to the scary drops last year, it's the worst since the week ended Dec. 16, 2011. 

Stock trading will be closed for the Good Friday holiday. 

Investors sold stocks Thursday on fears that Spain may have trouble paying back its debt after a key interest rate on Spanish government bonds rose to the highest point since November. 

"The firewall that Europe has established is in no way adequate to handle a Spanish default," said Jim Russell, chief equity strategist at U.S. Bank Wealth Management. "We're hopeful that (its debt) will be manageable, but we're not sure." 

The S&P 500 fell 0.88 point Thursday to close at 1,398.08. The Dow Jones industrial average fell 14.61 points to 13,060.14. The Nasdaq composite rose 12.41 points to 3,080.50. 

The Dow and S&P fell right after the opening bell, then turned up briefly before dropping again. 

The selling appeared to be tempered by a Labor Department report early Thursday that the number of people seeking jobless benefits fell to a four-year low. 

The selling came after the Dow had dropped nearly 125 points a day earlier, its worst decline in a month. That was triggered by minutes from the Federal Reserve's last meeting suggesting that the central bank didn't plan any more steps to push interest rates lower. 

"The sell-off yesterday was a little overdone, a reaction to how far we came for the quarter, and how fast," said Brian Lazorishak, a portfolio manager at Chase Investment Counsel. For the first three months of the year, the three major indexes were up 8 percent or more, the best start to a year since the great bull market of the 1990s. 

 *The NYSE DOW closed  	LOWER ▼	-14.61	points or ▼	-0.11%	Thursday, 5 April 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,060.14	▼	-14.61	▼	-0.11%	
	Nasdaq___	3,080.50	▲	12.41	▲	0.40%	
	S&P_500__	1,398.08	▼	-0.88	▼	-0.06%	
	30_Yr_Bond	3.322	▼	-0.06	▼	-1.72%	

NYSE Volume	 3,303,735,750 			 		 	
Nasdaq Volume	 1,676,056,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,723.67	▲	19.90	▲	0.35%	
	DAX_____	6,775.26	▼	-8.80	▼	-0.13%	
	CAC_40__	3,319.81	▲	6.34	▲	0.19%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,402.30	▼	-16.60	▼	-0.38%	
	Shanghai_Comp	2,302.24	▲	39.45	▲	1.74%	
	Taiwan_Weight	7,639.82	▼	-121.03	▼	-1.56%	
	Nikkei_225____	9,767.61	▼	-52.38	▼	-0.53%	
	Hang_Seng____	20,593.00	▲	53.93	▼	-0.95%	
	Strait_Times___	2,986.20	▲	1.16	▲	0.04%	

http://finance.yahoo.com/news/us-stocks-close-mostly-down-205740582.html

*US stocks close mostly down; worst week of 2012

Stocks close mostly lower as investors weigh better US data against signs of trouble in Europe*

By Bernard Condon, AP Business Writer 

NEW YORK (AP) -- Stocks just had their worst week of the new year. 

The Standard & Poor's 500 ended a shortened trading week down 0.7 percent. Though modest compared to the scary drops last year, it's the worst since the week ended Dec. 16, 2011. 

Stock trading will be closed for the Good Friday holiday. 

Investors sold stocks Thursday on fears that Spain may have trouble paying back its debt after a key interest rate on Spanish government bonds rose to the highest point since November. 

"The firewall that Europe has established is in no way adequate to handle a Spanish default," said Jim Russell, chief equity strategist at U.S. Bank Wealth Management. "We're hopeful that (its debt) will be manageable, but we're not sure." 

The S&P 500 fell 0.88 point Thursday to close at 1,398.08. The Dow Jones industrial average fell 14.61 points to 13,060.14. The Nasdaq composite rose 12.41 points to 3,080.50. 

The Dow and S&P fell right after the opening bell, then turned up briefly before dropping again. 

The selling appeared to be tempered by a Labor Department report early Thursday that the number of people seeking jobless benefits fell to a four-year low. 

The selling came after the Dow had dropped nearly 125 points a day earlier, its worst decline in a month. That was triggered by minutes from the Federal Reserve's last meeting suggesting that the central bank didn't plan any more steps to push interest rates lower. 

"The sell-off yesterday was a little overdone, a reaction to how far we came for the quarter, and how fast," said Brian Lazorishak, a portfolio manager at Chase Investment Counsel. For the first three months of the year, the three major indexes were up 8 percent or more, the best start to a year since the great bull market of the 1990s. 

Spain has become the latest point of concern in Europe's debt crisis. Investors are concerned over the ability of the country's government to push through cost-cutting programs at a time when its economy appears to be heading for another recession. 

Yields on 10-year Spanish bonds rose 0.08 percentage point to 5.74 percent, the highest level since November and a sign that investors are less confident in the country's finances. 

The fear among investors is that if Spain's borrowing costs climb too high, the country will have to follow Greece, Portugal and Ireland and seek outside help to pay its bills. Those three countries got bailouts after their borrowing rates rose above 7 percent. 

Worries over Europe drove the dollar to a three-week high against the euro. The euro is trading at $1.31. It was worth $1.33 on March 30. 

Seven of the ten industry sectors in the S&P 500 index fell Thursday. Telecommunications companies dropped the most, 1.6 percent. Consumer discretionary companies rose 0.7 percent. 

In U.S. stocks, Constellation Brands, a New York-based wine and spirits company, plunged 13 percent, the most in the S&P 500. The company's forecast for 2013 earnings was well below what analysts were expecting. Constellation's brands include Robert Mondavi wines and Corona Extra beer. 

Bed Bath & Beyond jumped nearly 9 percent, the most in the S&P 500, after the retailer reported a 25 percent surge in fourth-quarter profit, far more than analysts were forecasting. Sales at stores open for at least a year rose 6.8 percent, well above Wall Street's estimate of 3.8 percent. 

More stocks fell than rose on the New York Stock Exchange. Volume was light at 3.3 billion shares. 

Gold closed up $16 to $1,630 per troy ounce, recovering from a big loss the day before. Gold had fallen $58 Wednesday to its lowest level in three months.

3329


----------



## bigdog

Source: http://finance.yahoo.com 


NEW YORK (AP) -- Investors had a three-day weekend to brood over disappointing job growth in March. When they got back to work Monday and delivered their verdict, it wasn't good. 

Stocks closed sharply lower, sending the Dow Jones industrial average and the Standard & Poor's 500 index to only their second four-day losing streak this year. 

The Dow finished down 130.55 points at 12,929.59, its first close below 13,000 since March 12. The S&P ended the day off 15.88 points at 1,382.20. The Nasdaq composite closed down 33.42 at 3,047.08. 

The Dow and S&P had four consecutive trading days of declines at the end of January, but the losses then were smaller. The Dow lost 124 points over that stretch. It has lost about 330 this time. 

Stocks had their best first quarter since 1998 but have stumbled in April. Last week, the Federal Reserve suggested that it is disinclined to take further steps to help the economy, and the European debt crisis flared in Spain. 

Then on Friday, with the stock market closed for Good Friday, the government said the country added just 120,000 jobs in March, half the pace from December through February. 


 *The NYSE DOW closed  	LOWER ▼	-130.55	points or ▼	-1.00%	Monday, 9 April 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,929.59	▼	-130.55	▼	-1.00%	
	Nasdaq___	3,047.08	▼	-33.42	▼	-1.08%	
	S&P_500__	1,382.20	▼	-15.88	▼	-1.14%	
	30_Yr_Bond	3.184	▼	-0.14	▼	-4.15%	

NYSE Volume	 3,173,560,250 			 		 	
Nasdaq Volume	 1,376,659,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
FTSE_100	5,723.67	Closed for holiday
DAX_____	6,775.26	Closed for holiday
CAC_40__	3,319.81	Closed for holiday

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
ASX_All_Ord__	4,402.30	Closed for holiday
	Shanghai_Comp	2,285.78	▼	-20.78	▼	-0.90%	
	Taiwan_Weight	7,600.87	▼	-105.39	▼	-1.37%	
	Nikkei_225____	9,546.26	▼	-142.19	▼	-1.47%	
Hang_Seng____	20,593.00	Closed for holiday
	Strait_Times___	2,960.10	▼	-26.10	▼	-0.87%	


http://finance.yahoo.com/news/dow-closes-below-13-000-201609100.html

*Dow closes below 13,000 for first time in a month

Stocks drop, sending Dow to fourth loss in a row, in first response to weak March jobs data*

By Pallavi Gogoi, AP Business Writer 

NEW YORK (AP) -- Investors had a three-day weekend to brood over disappointing job growth in March. When they got back to work Monday and delivered their verdict, it wasn't good. 

Stocks closed sharply lower, sending the Dow Jones industrial average and the Standard & Poor's 500 index to only their second four-day losing streak this year. 

The Dow finished down 130.55 points at 12,929.59, its first close below 13,000 since March 12. The S&P ended the day off 15.88 points at 1,382.20. The Nasdaq composite closed down 33.42 at 3,047.08. 

The Dow and S&P had four consecutive trading days of declines at the end of January, but the losses then were smaller. The Dow lost 124 points over that stretch. It has lost about 330 this time. 

Stocks had their best first quarter since 1998 but have stumbled in April. Last week, the Federal Reserve suggested that it is disinclined to take further steps to help the economy, and the European debt crisis flared in Spain. 

Then on Friday, with the stock market closed for Good Friday, the government said the country added just 120,000 jobs in March, half the pace from December through February. 

After a long weekend to think it over, investors sold stocks broadly. All 10 industry groups in the S&P 500 fell on Monday, with financial stocks the worst performers. Bank of America fell 3.2 percent, and Citigroup was off 2.4 percent. 

Of the 30 stocks that make up the Dow, only two, McDonald's and Hewlett-Packard, finished higher. Traders at least didn't sell in great numbers: Volume on the New York Stock Exchange was 3.1 billion shares, the lightest in almost a month. Most school districts in New York and New Jersey are closed this week for spring week. 

Investors bought bonds, sending the yield on the benchmark 10-year Treasury note to 2.04 percent, down 0.02 percentage point from Friday. Yields also fell for longer-term U.S. bonds. 

Rex Macey, chief investment officer at Wilmington Trust Investment Advisors, cautioned that the jobs report reflected only one disappointing month. Like a doctor, he said, "I'd order up more tests before declaring this as a trend." 

The next test will come quickly. Alcoa, the aluminum company, reports its first-quarter earnings Tuesday, the first of the Dow 30 to weigh in. Two major banks, JPMorgan Chase and Wells Fargo, report Friday. 

Analysts are expecting quarterly earnings to decline slightly compared with a year earlier. That would break a streak of nine quarters of earnings growth since 2009. 

Elsewhere Monday, the price of crude oil fell 1.9 percent, and gold and platinum rose a little less than 1 percent. The euro rose to $1.3116 late Monday, up about two-tenths of a penny from Friday. 

Among other stocks making moves: 

— AOL shot up 43 percent after the company agreed to sell hundreds of patents and patent applications to Microsoft for a little more than $1 billion. The company plans to return some of the cash to shareholders. 

— Avon fell 3.1 percent after the struggling beauty products company named a former executive at Johnson & Johnson, Sherilyn McCoy, to be its CEO. Investors read it as a signal that Avon will fend off acquisition overtures. 

— Sherwin-Williams Co. gained 1 percent after the company raised its forecast for first-quarter profit following a 20 percent surge in sales at its paint stores.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market extended its longest and deepest slump of the year Tuesday, caught between a recurring nightmare of European debt and the beginning of uncertain corporate earnings reports at home. 

The Dow Jones industrial average fell 213.66 points, its biggest decline of the year and third triple-digit loss in four days. It closed at 12,715.93, its lowest since Feb. 2. 

A five-day losing streak has shaved about 550 points off the Dow, more than half what it gained from January through March. 

In Europe, concern about the financial health of Spain intensified, and borrowing costs for both Spain and Italy rose considerably. Spain's borrowing costs crept closer to levels that forced other countries to seek bailouts. 

European markets sold off while Wall Street was still sleeping. The main stock indexes in Spain and France closed down about 3 percent, the equivalent of a 400-point drop in the Dow. 


 *The NYSE DOW closed  	LOWER ▼	-213.66	points or ▼	-1.65%	Tuesday, 10 April 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,715.93	▼	-213.66	▼	-1.65%	
	Nasdaq___	2,991.22	▼	-55.86	▼	-1.83%	
	S&P_500__	1,358.59	▼	-23.61	▼	-1.71%	
	30_Yr_Bond	3.136	▼	-0.05	▼	-1.51%	

NYSE Volume	 4,676,836,000 			 		 	
Nasdaq Volume	 1,958,538,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,595.55	▼	-128.12	▼	-2.24%	
	DAX_____	6,606.43	▼	-168.83	▼	-2.49%	
	CAC_40__	3,217.60	▼	-102.21	▼	-3.08%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,373.70	▼	-28.60	▼	-0.65%	
	Shanghai_Comp	2,305.86	▲	20.09	▲	0.88%	
	Taiwan_Weight	7,640.68	▲	39.81	▲	0.52%	
	Nikkei_225____	9,538.02	▼	-8.24	▼	-0.09%	
	Hang_Seng____	20,356.24	▲	53.93	▼	-1.15%	
	Strait_Times___	2,977.70	▲	17.60	▲	0.59%	

http://finance.yahoo.com/news/worst-loss-dow-stocks-slump-203808686.html

*Worst loss for Dow this year as stocks slump again

Stocks slump on both sides of the Atlantic; Dow has biggest one-day drop of the year*

By Christina Rexrode, AP Business Writer 

The stock market extended its longest and deepest slump of the year Tuesday, caught between a recurring nightmare of European debt and the beginning of uncertain corporate earnings reports at home. 

The Dow Jones industrial average fell 213.66 points, its biggest decline of the year and third triple-digit loss in four days. It closed at 12,715.93, its lowest since Feb. 2. 

A five-day losing streak has shaved about 550 points off the Dow, more than half what it gained from January through March. 

In Europe, concern about the financial health of Spain intensified, and borrowing costs for both Spain and Italy rose considerably. Spain's borrowing costs crept closer to levels that forced other countries to seek bailouts. 

European markets sold off while Wall Street was still sleeping. The main stock indexes in Spain and France closed down about 3 percent, the equivalent of a 400-point drop in the Dow. 

"They've managed to put a Band-Aid on the debt crisis, but there's really no solution," said Colleen Supran, a principal at the investment adviser Bingham, Osborn & Scarborough in San Francisco. "And Spain is a much bigger problem than Greece." 

The yield on 10-year Spanish bonds rose to almost 6 percent. The point at which governments can no longer afford to raise money on the international bond markets and must seek bailouts is generally considered to be 7 percent. 

The 7 percent level forced Greece, the last focal point of the European debt crisis, to seek rescue loans. But Spain's economy is more than five times as large as Greece's. 

Jeffrey Cleveland, senior economist at Payden & Rygel in Los Angeles, compared the financial markets to a person coming off a sugar high ”” in this case, the bailout package for Greece put together late last year. 

"It works for a few minutes, but eventually reality reasserts itself," Cleveland said. "Nothing has been solved in Europe. People are paying attention to it now. They were able to ignore it for a little while." 

In the United States, stock in Alcoa, the aluminum company, surged 5.3 percent after the market closed. Minutes after the closing bell, the company reported profit of 9 cents per share. Analysts expected a loss of 4 cents. 

Alcoa was the first of the 30 stocks in the Dow to report its quarterly results, and earnings will help determine whether the market continues its slide or reverses it. 

After nine consecutive quarters of earnings growth, analysts think earnings will be flat this time. Those predictions came before Alcoa's impressive results, however. 

"Whatever qualifications you want to give it ”” it's because of cost-cutting, they've laid off a lot of people ”” earnings have been one bright spot," said Adrian Day, president of Adrian Day Asset Management in Annapolis, Md. "If that were to turn, that would be sort of the last leg on the stool being knocked away." 

The first three months of this year were the best for stocks since 1998, but investors have found plenty to fret about in April. 

The losing streak began last Tuesday, when the Federal Reserve said it was worried about the strength of job growth and suggested it was not inclined to provide further help for the economy. 

The Dow fell 204 points in three days. It fell 131 more on Monday, the first time investors could react to a report showing much weaker job growth in March than in the three previous months. 

Then, on Tuesday, the National Federation of Independent Business reported a drop in its small-business optimism index, the first decline after six months of gains. 

That report helped knock stocks down at the open, and with Europe to worry about, they sank all day. The S&P finished down 23.61 points, its worst one-day decline this year, at 1,358.59. 

The Nasdaq composite index, which eked out a gain in one of the past four days, ended down 55.86 points, its worst performance this year, at 2,991.22. It closed below 3,000 for the first time in more than a month. 

The Dow's 8 percent gain through the first quarter has been shaved to 4 percent. The S&P's gain of 12 percent has been cut to 8 percent. And the Nasdaq's run of almost 20 percent is now just 15. 

Last year, the Dow's longest losing streak was an eight-day, 858-point plunge in July and August, with Congress bickering over the government debt limit and just before the S&P ratings agency downgraded the U.S. 

On Tuesday, consumer discretionary stocks, which include travel companies, clothing stores and cable companies, fell 2.4 percent as a group, the worst-performing segment of the market. 

Financial stocks fell almost as much, and even utilities and health care stocks, which are more dependable in times of economic uncertainty, were down more than 1 percent each. 

The worst-performing stock in the Dow was Bank of America, which tends to take a hit when concerns about Europe grow stronger. Bank of America was down 4.4 percent. 

Trading was the most active since March 16, 4.6 billion shares. 

One big factor in the sell-off is fear that growth is slowing in the world's biggest economies. Recent economic reports from the United States and China have come in far below investors' expectations. 

The March jobs report showed a gain of 120,000, about half the monthly gain from December through February. And an earlier report on Americans' incomes showed that when adjusted for inflation, they dipped slightly in February for the second straight month. Without more earnings, consumer spending will likely be constrained. 

Investors are pricing in slower growth in the United States, said Neil Dutta, an economist at Bank of America Merrill Lynch. He predicts the S&P will end the year at about 1,400, only about 3 percent higher than where it finished Tuesday. 

For now, he said, "the likelihood is that the sell-off is probably not done." 

The low expectations for earnings could be a blessing in disguise, though. Companies may have an easier time beating them, which can drive up their stock price, at least temporarily. 

"CEOs have done a very good job of setting expectations low," said JJ Kinahan, chief derivatives strategist for TD Ameritrade in Chicago. 

Analysts have also worried that high gasoline prices could hurt the economic recovery. The price of oil fell almost to $101 a barrel Tuesday, but that was because traders are betting that a weak U.S. economy will keep demand low. 

That's down from nearly $110 last month, but still up significantly from about $75 in October. The buildup has been partly because of tension over Iran's nuclear program and the oil embargoes that have ensued. 

Iran, which has already cut off oil shipments to France and Britain, declared Tuesday that it would extend the embargo to Greece, a pre-emptive strike against European countries that planned to stop buying from Iran. Talks on Iran's nuclear program are scheduled for Saturday. 

On Tuesday, the dollar and U.S. Treasury prices rose as investors shifted money into lower-risk investments. The yield on the benchmark 10-year Treasury note fell for the fifth straight day, dropping to 1.99 percent from 2.04 percent Monday.


----------



## bigdog

Source: http://finance.yahoo.com 

 Investors on Wednesday all but forgot the previous day's burdens and sent stocks soaring. It was a stark turnaround from the day before, when they'd pushed the market into a free-fall on worries about European debt and corporate earnings in the U.S. 

Those fears about problems festering on both sides of the Atlantic were calmed thanks to a surprising profit from Alcoa and news that borrowing costs in Spain had edged down, a potential sign that investors have more faith ”” for now, anyway ”” in that country's financial health. 

The result was a U-turn on Wall Street. The Dow Jones industrial average climbed as much as 129 points in early trading before settling at 12,805.39, up 89.46 points. The previous day, it had lost 214 points, the cap to its biggest and longest losing streak this year. 

European markets rose, too. Stocks climbed roughly 1 percent in major capitals, excluding Greece, after losing 2 to 3 percent the day before. Treasury prices fell, signaling that investors are more willing to put money in stocks. 

Other U.S. indexes also erased much of the previous day's losses. The Standard & Poor's 500 rose 10.12 points to 1,368.71 after losing 24 points the day before. The Nasdaq composite climbed 25.24 points to 3,016.46 following a 56-point loss Tuesday. 

Alcoa rose more than 6 percent after reporting late Tuesday that it turned a profit in the first three months of the year and handily beat the expectations of Wall Street analysts, who were predicting a loss. Since Alcoa is the first company in the Dow average to report earnings, its results have a greater ability to move the market compared with companies that report later. More first-quarter results will be released over the next few weeks. 	 						

 *The NYSE DOW closed  	HIGHER ▲	89.46	points or ▲	0.70%	Wednesday, 11 April 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,805.39	▲	89.46	▲	0.70%	
	Nasdaq___	3,016.46	▲	25.24	▲	0.84%	
	S&P_500__	1,368.71	▲	10.12	▲	0.74%	
	30_Yr_Bond	3.185	▲	0.05	▲	1.56%	

NYSE Volume	 3,794,468,250 			 		 	
Nasdaq Volume	 1,543,623,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,634.74	▲	39.19	▲	0.70%	
	DAX_____	6,674.73	▲	68.30	▲	1.03%	
	CAC_40__	3,237.69	▲	20.09	▲	0.62%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,327.30	▼	-46.40	▼	-1.06%	
	Shanghai_Comp	2,308.92	▲	3.06	▲	0.13%	
	Taiwan_Weight	7,656.67	▲	15.99	▲	0.21%	
	Nikkei_225____	9,458.74	▼	-79.28	▼	-0.83%	
	Hang_Seng____	20,140.67	▲	53.93	▼	-1.06%	
	Strait_Times___	2,946.44	▼	-36.00	▼	-1.21%	

http://finance.yahoo.com/news/stocks-u-turn-rising-big-154449096.html

*Stocks make a U-turn, rising after big decline

Fears about earnings and Europe ease a day after the stock markets' worst loss of the year*

By Christina Rexrode

Investors on Wednesday all but forgot the previous day's burdens and sent stocks soaring. It was a stark turnaround from the day before, when they'd pushed the market into a free-fall on worries about European debt and corporate earnings in the U.S. 

Those fears about problems festering on both sides of the Atlantic were calmed thanks to a surprising profit from Alcoa and news that borrowing costs in Spain had edged down, a potential sign that investors have more faith ”” for now, anyway ”” in that country's financial health. 

The result was a U-turn on Wall Street. The Dow Jones industrial average climbed as much as 129 points in early trading before settling at 12,805.39, up 89.46 points. The previous day, it had lost 214 points, the cap to its biggest and longest losing streak this year. 

European markets rose, too. Stocks climbed roughly 1 percent in major capitals, excluding Greece, after losing 2 to 3 percent the day before. Treasury prices fell, signaling that investors are more willing to put money in stocks. 

Other U.S. indexes also erased much of the previous day's losses. The Standard & Poor's 500 rose 10.12 points to 1,368.71 after losing 24 points the day before. The Nasdaq composite climbed 25.24 points to 3,016.46 following a 56-point loss Tuesday. 

Alcoa rose more than 6 percent after reporting late Tuesday that it turned a profit in the first three months of the year and handily beat the expectations of Wall Street analysts, who were predicting a loss. Since Alcoa is the first company in the Dow average to report earnings, its results have a greater ability to move the market compared with companies that report later. More first-quarter results will be released over the next few weeks. 

Market watchers were divided over how long the gains would last and whether Alcoa's profits actually mean anything for the rest of the earnings season. 

"I'm not predicting we're going to have a blowout earnings quarter," said David Armstrong, managing director of Monument Wealth Management in Alexandria, Va. "But I think if people thought earnings season was going to be bad, they may be pleasantly surprised." 

"One earnings report?" countered Uri Landesman, president of the New York hedge fund Platinum Partners. The boost "will last until the first bad number." 

For Europe as well, investors seemed anxious to latch onto any piece of good news. They were cheered that the rate on Spain's 10-year bonds dropped slightly after nearing 6 percent on Tuesday. Seven percent is generally considered the rate at which it becomes too expensive for a country to borrow money. 

Investors chose, largely, to ignore other signs blaring that problems in Europe are only hibernating and not solved. Spain's borrowing costs are still dangerously high. Italy sold 12-month bonds but was forced to pay more than double the interest rate it paid last month. Even Germany, whose bonds are considered a safer investment, failed to sell all the 10-year bonds it had intended to. 

In Greece and France, upcoming elections threaten to unravel the uneasy peace that has been reached between the weak and strong countries in Europe. New leaders could unwind hard-fought deals that require Greece and others to cut spending in order to get bailout loans. Greece's unpredictability rose to a new level Wednesday when the country announced it would hold parliamentary elections months ahead of schedule. 

Landesman described the dealmaking as "Band-Aid after Band-Aid," rather than a real solution addressing Europe's deep-rooted problems of overspending. "You can't do that forever," Landesman said. "There is a day of reckoning." 

If it is hard to predict news out of Europe, it's equally difficult to guess how investors will react to it ”” panicking one day and shrugging off similar developments on another day. There are plenty of days the market swings on news out of Europe that is merely incremental, or even when there's no news at all. 

"A possible European recession? I don't really think that's new," said Armstrong. "For people reacting as if this is new news, I think that's poor discipline as a (long-term) investor." 

Europe's debt crisis and concerns about U.S. earnings haven't been the only problems for the market in recent weeks. There are also signs that job growth is slowing and that the Federal Reserve is disinclined to pump more money into the economy. 

Wednesday's gains still don't make up for the market's second-quarter losses. Wednesday was just the second gain for the Dow in the seven trading days so far this quarter. The Dow was up 8 percent at the end of the first quarter, but it's down 3 percent so far for the second. 

From a longer-term viewpoint, however, the market's recent swings have been relatively mild. The Dow plunged nearly 550 points in the five days ending Tuesday, a molehill compared to the mountain of last summer's frightening drops. Those included an 858-point, eight-day plunge in July and August, as Congress bickered over government debt limits and the S&P prepared to downgrade the U.S. debt rating. 

In fact, the market's steady rise from Thanksgiving to the end of March has kept the losses of the last few days from being any worse, said Frank Fantozzi, CEO of Planned Financial Services in Cleveland. 

"It's like a person," Fantozzi said. "If you're feeling good overall and a couple negative things happen, you just shrug it off. If you're feeling lousy and you get some good news, you still feel lousy." 

Among stocks making big moves: 

””Titan Machinery, which sells agricultural and construction equipment, jumped nearly 17 percent after reporting a big increase in quarterly profit. 

””Cell phone maker Nokia plummeted nearly 16 percent after warning that heavy competition will hurt first-quarter results. 

””Travelzoo, the online travel company, soared more than 28 percent after reports that it plans to sell itself to private firms.


----------



## bigdog

Source: http://finance.yahoo.com 

Encouraging signs from two of the most important zones of the world economy, the powerhouse of China and the debt-burdened countries of Europe, drove the Dow Jones industrial average up 181 points Thursday, its second-biggest gain this year. 

China's central bank reported a surprising jump in loans in March. That eased concerns about a sudden slowdown in the Chinese economy, whose growth has helped pull the globe out of recession. 

Italy's government easily sold $6.4 billion in bonds to investors. After the auction, borrowing rates for Italy fell, European stock indexes reversed earlier declines and worries about the continental debt crisis eased, at least for the day. 

"European governments have a mountain of debt coming due early this year," said John Canally, investment strategist at LPL Financial in Boston. "Some of what you're seeing today in markets is a bit of relief that they're working through it." 

In New York, the Dow Jones industrial average climbed 1.4 percent to close at 12,986.58. It was the Dow's biggest jump since March 13 and put the average within sight of clearing 13,000 again. 

After the market closed, Google reported earnings that were ahead of analysts' estimates and said it would issue a new class of non-voting stock to shareholders. Google rose 0.5 percent in aftermarket trading. 

On Wednesday the stock market snapped out of a five-day slump, its longest and deepest of the year. Investors were worried about European debt, slower job growth and the Federal Reserve's resistance to taking further steps to boost the economy. 	

 *The NYSE DOW closed  	HIGHER ▲	181.19	points or ▲	1.41%	Thursday, 12 April 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,986.58	▲	181.19	▲	1.41%	
	Nasdaq___	3,055.55	▲	39.09	▲	1.30%	
	S&P_500__	1,387.57	▲	18.86	▲	1.38%	
	30_Yr_Bond	3.207	▲	0.02	▲	0.69%	

NYSE Volume	 3,543,994,000 			 		 	
Nasdaq Volume	 1,491,138,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,710.46	▲	75.72	▲	1.34%	
	DAX_____	6,743.24	▲	68.51	▲	1.03%	
	CAC_40__	3,269.79	▲	32.10	▲	0.99%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,361.70	▲	34.40	▲	0.79%	
	Shanghai_Comp	2,350.86	▲	41.94	▲	1.82%	
	Taiwan_Weight	7,662.92	▲	6.25	▲	0.08%	
	Nikkei_225____	9,524.79	▲	66.05	▲	0.70%	
	Hang_Seng____	20,327.32	▲	53.93	▲	0.93%	
	Strait_Times___	2,978.14	▲	31.70	▲	1.08%	

http://finance.yahoo.com/news/stocks-surge-hewlett-packard-leads-155735530.html

*Stocks surge; Hewlett-Packard leads Dow higher

US stocks jump as trade deficit shrinks and Italy raises money; Dow leaps 181 points*

By Matthew Craft, AP 

Encouraging signs from two of the most important zones of the world economy, the powerhouse of China and the debt-burdened countries of Europe, drove the Dow Jones industrial average up 181 points Thursday, its second-biggest gain this year. 

China's central bank reported a surprising jump in loans in March. That eased concerns about a sudden slowdown in the Chinese economy, whose growth has helped pull the globe out of recession. 

Italy's government easily sold $6.4 billion in bonds to investors. After the auction, borrowing rates for Italy fell, European stock indexes reversed earlier declines and worries about the continental debt crisis eased, at least for the day. 

"European governments have a mountain of debt coming due early this year," said John Canally, investment strategist at LPL Financial in Boston. "Some of what you're seeing today in markets is a bit of relief that they're working through it." 

In New York, the Dow Jones industrial average climbed 1.4 percent to close at 12,986.58. It was the Dow's biggest jump since March 13 and put the average within sight of clearing 13,000 again. 

After the market closed, Google reported earnings that were ahead of analysts' estimates and said it would issue a new class of non-voting stock to shareholders. Google rose 0.5 percent in aftermarket trading. 

On Wednesday the stock market snapped out of a five-day slump, its longest and deepest of the year. Investors were worried about European debt, slower job growth and the Federal Reserve's resistance to taking further steps to boost the economy. 

"I think the fear was overdone," said Scott Brown, chief economist at Raymond James. "This is the manic nature of the stock market. The sentiment seems to shift back and forth day by day. Either the economy is booming or it's completely falling apart." 

In other trading, the Standard & Poor's 500 index rose 18.86 points, 1.4 percent, to 1,387.57. The Nasdaq composite index gained 39.09 points, 1.3 percent, to 3,055.55. 

Materials companies led the S&P 500 higher, with energy and industrial stocks close behind. Hewlett-Packard gained 7.2 percent, the best in the Dow, after a study reported that shipments of personal computers unexpectedly rose by almost 2 percent at the start of the year. 

The U.S. trade deficit shrank in February to $46 billion, a four-month low, as exports hit an all-time high. The shrinking trade deficit raised the possibility that the economy grew faster in the first quarter than previously expected. 

U.S. stocks opened higher despite a rise in weekly unemployment claims. The Labor Department reported that applications for unemployment benefits jumped to 380,000 last week, the highest in two months. 

To Canally, the stock market's two-day rally looks fragile. "We're only a few bad earnings reports and a bad government debt auction in Europe from another sharp sell-off," he said. 

Among stocks making big moves: 

”” Avid Technology Inc. plunged 17 percent. The maker of equipment for recording music and video said it expects to post a loss in the first quarter, a result of weaker demand from amateur musicians and DJs. 

”” McKesson Corp. rose 3.9 percent after reporting that the Department of Veteran Affairs agreed to keep McKesson as its main drug supplier. The VA runs one of the country's largest health care systems. 

”” Tractor Supply Co. jumped 6.1 percent after its quarterly sales topped $1 billion for the first time beating Wall Street's estimates. The retailer of pig feed, power tools and an array of other products raised its full-year earnings outlook.


----------



## bigdog

Source: http://finance.yahoo.com 

It was another losing week on Wall Street after worries about Europe returned. 

Stocks closed lower on Friday and closed out their worst week of the year so far. The Dow Jones industrial average lost 1.6 percent for the week, the Standard & Poor's 500 index fell 2 percent. 

The Dow is still ahead 5 percent for the year after a gangbusters first quarter. After the kind of returns investors have enjoyed so far this year, some "it's not surprising that we sort of slosh around here for a bit," said Jim Dunigan, managing executive of investments for PNC Wealth Management. 

On Friday the Dow lost 136.99 points to close at 12,849.59, a loss of 1.1 percent. It was down all day but the losses got worse in the last half-hour. The decline wiped out much of the Dow's 181-point gain the day before. 

The Standard & Poor's 500 index fell 17.31 points, or 1.3 percent, to 1,370.26. The Nasdaq composite fell 44.22 points, 1.5 percent, to 3,011.33. 

Investors had several reasons to wonder about the prospects for global economic growth. Higher borrowing costs in Europe reminded investors that the continent's debt problems aren't over. Growth slowed in China. And a closely watched gauge of consumer confidence came in weaker than analysts were expecting. 

Peter Cardillo, chief market economist at Rockwell Global Capital, said investors are worried that Europe's economic problems will be bigger than previously expected. Europe needs to growth to fix its debt problems, but higher borrowing costs could force more cuts in government spending. 

"You can't have growth if you have too much austerity," Cardillo said. "I think that's what the fear is." 

European markets fell broadly. Indexes in France and Germany fell more than 2.4 percent. The FTSE 100 index in Britain fell 1 percent. 

 *The NYSE DOW closed  	LOWER ▼	-136.99	points or ▼	-1.05%	Friday, 13 April 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,849.59	▼	-136.99	▼	-1.05%	
	Nasdaq___	3,011.33	▼	-44.22	▼	-1.45%	
	S&P_500__	1,370.26	▼	-17.31	▼	-1.25%	
	30_Yr_Bond	3.148	▼	-0.06	▼	-1.84%	

NYSE Volume	 3,636,285,500 			 		 	
Nasdaq Volume	 1,490,486,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,651.79	▼	-58.67	▼	-1.03%	
	DAX_____	6,583.90	▼	-159.34	▼	-2.36%	
	CAC_40__	3,189.09	▼	-80.70	▼	-2.47%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,404.20	▲	42.50	▲	0.97%	
	Shanghai_Comp	2,359.16	▲	8.30	▲	0.35%	
	Taiwan_Weight	7,788.27	▲	125.35	▲	1.64%	
	Nikkei_225____	9,637.99	▲	113.20	▲	1.19%	
	Hang_Seng____	20,701.04	▲	53.93	▲	1.84%	
	Strait_Times___	2,987.82	▲	9.68	▲	0.33%	

http://finance.yahoo.com/news/stock...g1YWItMTFlMS05ZmZmLTAxOTUzNDc4ZjQwMw--;_ylv=3

*Stocks fall on higher European borrowing costs

US stocks pull back on higher European borrowing costs*

By Joshua Freed, AP Business Writer

It was another losing week on Wall Street after worries about Europe returned. 

Stocks closed lower on Friday and closed out their worst week of the year so far. The Dow Jones industrial average lost 1.6 percent for the week, the Standard & Poor's 500 index fell 2 percent. 

The Dow is still ahead 5 percent for the year after a gangbusters first quarter. After the kind of returns investors have enjoyed so far this year, some "it's not surprising that we sort of slosh around here for a bit," said Jim Dunigan, managing executive of investments for PNC Wealth Management. 

On Friday the Dow lost 136.99 points to close at 12,849.59, a loss of 1.1 percent. It was down all day but the losses got worse in the last half-hour. The decline wiped out much of the Dow's 181-point gain the day before. 

The Standard & Poor's 500 index fell 17.31 points, or 1.3 percent, to 1,370.26. The Nasdaq composite fell 44.22 points, 1.5 percent, to 3,011.33. 

Investors had several reasons to wonder about the prospects for global economic growth. Higher borrowing costs in Europe reminded investors that the continent's debt problems aren't over. Growth slowed in China. And a closely watched gauge of consumer confidence came in weaker than analysts were expecting. 

Peter Cardillo, chief market economist at Rockwell Global Capital, said investors are worried that Europe's economic problems will be bigger than previously expected. Europe needs to growth to fix its debt problems, but higher borrowing costs could force more cuts in government spending. 

"You can't have growth if you have too much austerity," Cardillo said. "I think that's what the fear is." 

European markets fell broadly. Indexes in France and Germany fell more than 2.4 percent. The FTSE 100 index in Britain fell 1 percent. 

The worries are concentrated in Spain and Italy, and it showed up in their financial markets Friday. Spain's main stock index fell 3.6 percent and is now down 15 percent for the year. The yield on its 10-year government bond rose to 5.93 percent, and Italy's rose to 5.52 percent. That's a sign that investors' confidence in those countries' finances slipped. It also means those countries will have to pay more to borrow money. 

New data showed the Chinese economy grew at an 8.1 percent pace in the January-March period, the slowest in almost three years. In the U.S., a closely-watched gauge of consumer confidence came in weaker than analysts had been expecting. 

The stock declines were broad. All 10 market sectors tracked by the S&P 500 index fell, led by a 2.3 percent drop in financial stocks. 

Bank of America Corp. fell 5.3 percent. Wells Fargo & Co. and JPMorgan Chase & Co. both reported better-than-expected profits, but each fell more than 3.5 percent as investors focused on comments that said the overhang from bad loans would continue. 

Among stocks making big moves: 

— Apple Inc. fell 2.8 percent after reports that a German court ruled against it in a patent fight with Motorola over mobile e-mail technology. 

— Google fell 4 percent after the company said it would issue new non-voting stock to shareholders. 

— Coinstar, which runs the Redbox DVD rental kiosks, rose 7.3 percent after it raised its revenue forecast. 

— Dow Chemical rose 1.6 percent after it raised its quarterly dividend 28 percent. The company said last week it would eliminate 900 jobs and close several plants. 

The dollar and Treasury prices rose. Oil dropped 81 cents to $102.83 per barrel.

4084


----------



## bigdog

Source: http://finance.yahoo.com 

For most of the year, Apple has propelled the Nasdaq composite index forward. The stock climbed from $405 at the start of the year to more than $630 last week, and the Nasdaq easily beat the gains of other indexes. 

Now Apple is sliding the other way and taking the Nasdaq with it. 

Apple stock dropped more than $25 on Monday, its fifth straight day of declines. The losing streak has wiped out about $60 billion of Apple's market value. That's more than the most optimistic projections of the value of Facebook. 

Apple helped push the Nasdaq composite index down 22.93 points on Monday to 2,988.40. The index is now up about 15 percent for the year after almost reaching 20 percent by the end of March. 

"It's been a very quirky market because it's been a few companies that have delivered most of the rally this year," said Mark Lamkin, CEO of Lamkin Wealth Management in Louisville, Ky. "It's not been a broad-based rally." 

Apple, still the most valuable company in the world, accounts for 12 percent of the Nasdaq, more than any other stock. It has been on an almost uninterrupted climb for three years, powered by its hot iPhones and iPads. 

But last week, a veteran technology analyst boldly issued a downgrade for Apple. He predicted that cellphone companies would probably stop offering such generous subsidies for customers to adopt the iPhone. 

Investors may also be locking in profits and getting out before Apple reports earnings April 24. Even after the five-day decline, Apple stock is up 43 percent for the year. 

 *The NYSE DOW closed  	HIGHER ▲	71.82	points or ▲	0.56%	Monday, 16 April 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,921.41	▲	71.82	▲	0.56%	
	Nasdaq___	2,988.40	▼	-22.93	▼	-0.76%	
	S&P_500__	1,369.57	▼	-0.69	▼	-0.05%	
	30_Yr_Bond	3.114	▼	-0.03	▼	-1.08%	

NYSE Volume	 3,574,780,250 			 		 	
Nasdaq Volume	 1,611,224,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,666.28	▼	-44.18	▼	-0.77%	
	DAX_____	6,625.19	▲	41.29	▲	0.63%	
	CAC_40__	3,205.28	▲	16.19	▲	0.51%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,382.50	▼	-21.70	▼	-0.49%	
	Shanghai_Comp	2,357.03	▼	-2.13	▼	-0.09%	
	Taiwan_Weight	7,729.86	▼	-58.41	▼	-0.75%	
	Nikkei_225____	9,470.64	▼	-167.35	▼	-1.74%	
	Hang_Seng____	20,610.64	▲	53.93	▼	-0.44%	
	Strait_Times___	2,992.12	▲	4.30	▲	0.14%	

http://finance.yahoo.com/news/apple-weighs-nasdaq-dow-climbs-211012408.html

*Apple weighs on Nasdaq; Dow climbs 72

Apple weighs down the Nasdaq on a day when stocks are mostly flat*

By Christina Rexrode, 

NEW YORK (AP) -- For most of the year, Apple has propelled the Nasdaq composite index forward. The stock climbed from $405 at the start of the year to more than $630 last week, and the Nasdaq easily beat the gains of other indexes. 

Now Apple is sliding the other way and taking the Nasdaq with it. 

Apple stock dropped more than $25 on Monday, its fifth straight day of declines. The losing streak has wiped out about $60 billion of Apple's market value. That's more than the most optimistic projections of the value of Facebook. 

Apple helped push the Nasdaq composite index down 22.93 points on Monday to 2,988.40. The index is now up about 15 percent for the year after almost reaching 20 percent by the end of March. 

"It's been a very quirky market because it's been a few companies that have delivered most of the rally this year," said Mark Lamkin, CEO of Lamkin Wealth Management in Louisville, Ky. "It's not been a broad-based rally." 

Apple, still the most valuable company in the world, accounts for 12 percent of the Nasdaq, more than any other stock. It has been on an almost uninterrupted climb for three years, powered by its hot iPhones and iPads. 

But last week, a veteran technology analyst boldly issued a downgrade for Apple. He predicted that cellphone companies would probably stop offering such generous subsidies for customers to adopt the iPhone. 

Investors may also be locking in profits and getting out before Apple reports earnings April 24. Even after the five-day decline, Apple stock is up 43 percent for the year. 

"It's had a huge run," said Burt White, chief investment officer of LPL Financial in Boston. "Some investors probably said, 'Might as well take some profits.'" 

The broader stock market was flat, helped by strong March retail sales but hurt by continuing concerns about rising borrowing costs for debt-troubled Spain. The Standard & Poor's 500 index dropped 0.69 point to 1,369.57. 

Apple dragged down other technology stocks, which fell more than any other industry group in the S&P. Google, which went to trial Monday against Oracle in a copyright case over the Android phone, dropped for the second day in a row. 

Utility stocks and banks rose, while energy companies and so-called consumer discretionary stocks fell. 

The Dow Jones industrial average rose 71.82 points to 12,921.41, a gain of 0.6 percent. All but six of the 30 stocks that make up the Dow rose for the day, explaining why it rose while the S&P was flat. Apple is not part of the Dow. 

The government reported that retail sales rose 0.8 percent compared to the previous month, twice what analysts had been expecting. Skeptics noted that was less than February's 1 percent increase. 

They also wondered whether the buying was just a result of the mild winter, rather than a sign of recovery: If people are buying lawn mowers and other warm-weather goods now, then they probably won't be later in the year. Building materials and garden equipment enjoyed the biggest jump in March. 

"It's nice to see the retail sales were strong, but it's one month and it's one data point and it's not even the biggest data point," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research in Cincinnati. "Honestly, jobs are much more important." 

Earlier this month, the government reported that the U.S. added 120,000 jobs in March, about half the pace of the previous three months. 

Spain's borrowing costs climbed above the closely watched 6 percent mark as investors grew more worried about the country's ability to pay its debts. Seven percent is the rate at which other European countries have been forced to seek bailouts. Sweden cut its economic forecast for the year, saying that problems elsewhere in Europe were spreading its way. 

The yield on the 10-year Treasury note was steady at 1.98 percent. 

Among stocks making moves: 

”” Mattel plummeted more than 9 percent after reporting a 53 percent drop in first-quarter earnings. The country's largest toy maker is wrestling with lower sales of Hot Wheels and Barbies. It just bought HIT Entertainment, the company behind Thomas the Tank Engine and Bob the Builder. 

”” Endocyte doubled to $7.62 after reporting that Merck, the world's second-largest drugmaker, will develop and market its experimental cancer drug. Endocyte, based in West Lafayette, Ind., has no products on the market.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks stormed higher Tuesday after promising signals about the profitability of U.S. companies and a strong debt auction by Spain. The Dow Jones industrial average rose for the fourth day in five and posted its biggest gain in a month. 

European stocks had their best day in four months after Spain, the latest flashpoint in the European debt crisis, attracted strong investor interest at an auction of two-year debt. 

Spain's borrowing costs fell, as measured by the yields on Spanish bonds being traded in the market. In recent days, those yields had risen closer to levels that might force Spain to seek an international bailout. 

"There's no doubt that gave the market a second wind," Anthony Chan, chief economist with J.P. Morgan Private Wealth management, said of the debt auction. "The market is reassessing and feeling a little better." 

The Dow Jones industrial average closed up 194.13 points, or 1.5 percent, at 13,115.54. It was up as much as 210 points Tuesday afternoon. The Dow has had only one 200-point rise this year, a gain of 218 points on March 13. 

First-quarter results have begun to pour in from companies, and traders have been impressed so far. On Tuesday, Coca-Cola said its first-quarter profit was better than Wall Street analysts had forecast. Goldman Sachs and Johnson & Johnson also posted strong results	 						

 *The NYSE DOW closed  	HIGHER ▲	194.13	points or ▲	1.50%	Tuesday, 17 April 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,115.54	▲	194.13	▲	1.50%	
	Nasdaq___	3,042.82	▲	54.42	▲	1.82%	
	S&P_500__	1,390.78	▲	21.21	▲	1.55%	
	30_Yr_Bond	3.155	▲	0.04	▲	1.32%	

NYSE Volume	 3,429,460,500 			 		 	
Nasdaq Volume	 1,563,969,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,766.95	▲	100.67	▲	1.78%	
	DAX_____	6,801.00	▲	175.81	▲	2.65%	
	CAC_40__	3,292.51	▲	87.23	▲	2.72%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,368.80	▼	-13.70	▼	-0.31%	
	Shanghai_Comp	2,334.98	▼	-22.04	▼	-0.94%	
	Taiwan_Weight	7,585.87	▼	-143.99	▼	-1.86%	
	Nikkei_225____	9,464.71	▼	-5.93	▼	-0.06%	
	Hang_Seng____	20,562.31	▲	53.93	▼	-0.23%	
	Strait_Times___	2,986.59	▼	-5.53	▼	-0.18%	
	NZX 50 Index ____	3,480.54	▲	7.04	▲	0.20%	

http://finance.yahoo.com/news/us-stocks-jump-strong-profits-201136569.html

*US stocks jump after strong profits; Spain soothes

Dow rises sharply as strong earnings boost stocks; Spain reassures investors with debt auction*

By Daniel Wagner, AP Business Writer

Stocks stormed higher Tuesday after promising signals about the profitability of U.S. companies and a strong debt auction by Spain. The Dow Jones industrial average rose for the fourth day in five and posted its biggest gain in a month. 

European stocks had their best day in four months after Spain, the latest flashpoint in the European debt crisis, attracted strong investor interest at an auction of two-year debt. 

Spain's borrowing costs fell, as measured by the yields on Spanish bonds being traded in the market. In recent days, those yields had risen closer to levels that might force Spain to seek an international bailout. 

"There's no doubt that gave the market a second wind," Anthony Chan, chief economist with J.P. Morgan Private Wealth management, said of the debt auction. "The market is reassessing and feeling a little better." 

The Dow Jones industrial average closed up 194.13 points, or 1.5 percent, at 13,115.54. It was up as much as 210 points Tuesday afternoon. The Dow has had only one 200-point rise this year, a gain of 218 points on March 13. 

First-quarter results have begun to pour in from companies, and traders have been impressed so far. On Tuesday, Coca-Cola said its first-quarter profit was better than Wall Street analysts had forecast. Goldman Sachs and Johnson & Johnson also posted strong results. 

"This earnings season, expectations were low, and it's going to be easy to beat that," said Doreen Mogavero, a floor broker at the New York Stock Exchange and founder and CEO of Mogavero Lee & Co. Inc., a small brokerage of stocks for institutional clients. 

After nine straight quarters of growth, earnings for companies in the S&P 500 index were expected to be roughly flat for the first quarter. The slowdown was expected because of global threats from Europe and China and the difficulty of beating double-digit gains in recent quarters. 

"They talked earnings down for three weeks ahead of the announcements," agreed Kenneth Polcari, a floor broker and managing director with the giant brokerage ICAP Equities. "They've lowered the bar so much that when the announcements come in, it's like, 'Look how good everyone is doing,'" he said. 

While stocks have not returned to the lurching moves of last summer, the market has been more volatile in April than it was in January, February and March. 

In the first quarter, while stocks rose smoothly, there were only six days on which the Dow rose or fell by 100 points. There have been six more in just 11 trading days in April. 

Traders said the market is growing more volatile in part because the number of shares traded remains relatively low. About 3.44 billion shares of NYSE-listed stocks were traded on Monday. 

"There's so little volume these days that some movement in any direction is going to be exaggerated by not as many people trading as you'd like to see," said Michael Guli, director of Knight Capital Americas, an international financial services company. 

Indexes move more sharply when volumes are low because the action is driven by a handful of short-term traders, rather than by big movements of money managed by institutional asset managers, Polcari said. 

"If you had real asset managers playing, you'd see volume exploding, and you're not seeing it. The lack of participation by big asset managers is letting the day traders and high-frequency trading guys drive the market and create the volatility," he said. 

Conflicting information about the U.S. economy and Europe's debt crisis adds to the volatility, Policari added. "Just as the market is up 20 points today, you could just as easily see it down by 20 points tomorrow," he said, referring to movements in the Standard & Poor's 500 index. 

The S&P 500 gained 21.21 points, or 1.6 percent, to 1,390.78. All 10 of its industry groups rose ”” nine of them by more than 1 percent. 

Utilities rose only 0.6 percent. Those stocks offer modest, stable returns in periods of weak growth but tend to suffer when the economy rebounds. 

Coke stock leapt 2.1 percent. Traders did not appear as impressed by Goldman Sachs and Johnson & Johnson. J&J edged higher, while Goldman fell three-fourths of a percent. 

Chan warned against judging the quarter based on the small number of companies that have reported at this early stage. 

The Nasdaq composite index soared 54.42 points, or 1.8 percent, to 3,042.82. Apple, the most valuable company by market value, rose 5.1 percent after five straight days of losses that wiped out about $60 billion in market value. 

In Spain early Tuesday, the government sold more than â‚¬3.2 billion ($4.2 billion) in short-term debt, more than had been expected. The yield on Spain's 10-year government bond fell to 5.88 percent from 6.10 percent early Monday, a sign of improving confidence in the country's finances. 

The cost of insuring Spanish debt against default fell back from a record high, another sign that the auction reassured bond investors. The cost of insuring â‚¬10 million in Spanish debt for five years had soared to â‚¬522,000 per year on Monday. After Tuesday's auction, it fell to â‚¬489,000. 

Italy's benchmark stock index rose 3.7 percent. France's and Germany's gained 2.7 percent. The broad STOXX 50 index of European shares rose 2 percent, the most since November. 

In the United States, the rally followed a batch of mixed economic news. The number of permits requested by homebuilders for future projects reached a 3 ½-year high, an indication that the housing market might stop weighing down the economy. But builders broke ground on homes at a slower pace in March. 

Factory output fell after four strong months of gains. 

Among the other companies that reported earnings: 

”” Forest Laboratories Inc. rose 4 percent after it weathered competition from generic drug makers better than analysts had expected. 

”” Regional bank Comerica Inc. gained 3.5 percent after improving credit conditions limited its loan losses and allowed it to increase lending.


----------



## bigdog

Source: http://finance.yahoo.com 

It hardly needed it, but the U.S. stock market on Wednesday got another reminder of how its fortunes are inexorably tied to the European economy. 

All three major U.S. stock indexes sank after a dismal report about bad loans on the books of Spanish banks. The day before, U.S. stocks had soared after Spain held a successful auction of 2-year bonds. 

The results underscored how the stock market can whipsaw on even incremental news out of Europe, and it has done just that for the past couple of weeks. In the 12 trading days of the second quarter so far, the Dow has fallen by triple digits four times, with Europe as a notable factor. Twice, it has risen by that same proportion. 

It's not just the news itself, which can vary from hopeful to horrific and back again in just a couple of days. It's that investors have been inconsistent in how they react, sometimes shrugging off what seems like significant developments and at other times seizing on what seems piecemeal. 

It's a time when "one headline can get you to change your mind," said Gary Flam, portfolio manager at Bel Air Investment Advisors in Los Angeles. "When you go from one day being concerned about Spain to the next day, 'Oh, they had a good auction,' that's a lack of conviction," meaning investors aren't sure what to think. 

The market "is really difficult to classify" at the moment, added Mike Schenk, senior economist at the Credit Union National Association, a trade group. "On one hand you hear about 'best day since whatever,' on the other hand you have days and weeks that don't look good at all." 

The Dow Jones industrial average fell 82.79 points to 13,032.75. That was a U-turn from Tuesday's gain of 194 points. 

The euro fell and Treasury prices rose as nervous investors looked for safe places to store their money. The yield on the 10-year Treasury note fell back below 2 percent and was 1.98 percent in afternoon trading

 *The NYSE DOW closed  	LOWER ▼	-82.79	points or ▼	-0.63%	Wednesday, 18 April 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,032.75	▼	-82.79	▼	-0.63%	
	Nasdaq___	3,031.45	▼	-11.37	▼	-0.37%	
	S&P_500__	1,385.14	▼	-5.64	▼	-0.41%	
	30_Yr_Bond	3.126	▼	-0.03	▼	-0.92%	

NYSE Volume	 3,463,141,500 			 		 	
Nasdaq Volume	 1,625,962,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,745.29	▼	-21.66	▼	-0.38%	
	DAX_____	6,732.03	▼	-68.97	▼	-1.01%	
	CAC_40__	3,240.29	▼	-52.22	▼	-1.59%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,427.20	▲	58.40	▲	1.34%	
	Shanghai_Comp	2,380.85	▲	45.86	▲	1.96%	
	Taiwan_Weight	7,605.00	▲	19.13	▲	0.25%	
	Nikkei_225____	9,667.26	▲	202.55	▲	2.14%	
	Hang_Seng____	20,780.73	▲	53.93	▲	1.06%	
	Strait_Times___	3,000.58	▲	13.99	▲	0.47%	
	NZX 50 Index__ 	3,522.76	▲	42.22	▲	1.21%	

http://finance.yahoo.com/news/europ...RzZWMDbWl0X3NoYXJlBHNsawNtYWlsBHRlc3QD;_ylv=3

*Europe weighs heavily on US stock market

US stocks dip, a day after big gains, as news from across the ocean unnerves investors*

By Christina Rexrode, AP Business Writer 

NEW YORK (AP) -- It hardly needed it, but the U.S. stock market on Wednesday got another reminder of how its fortunes are inexorably tied to the European economy. 

All three major U.S. stock indexes sank after a dismal report about bad loans on the books of Spanish banks. The day before, U.S. stocks had soared after Spain held a successful auction of 2-year bonds. 

The results underscored how the stock market can whipsaw on even incremental news out of Europe, and it has done just that for the past couple of weeks. In the 12 trading days of the second quarter so far, the Dow has fallen by triple digits four times, with Europe as a notable factor. Twice, it has risen by that same proportion. 

It's not just the news itself, which can vary from hopeful to horrific and back again in just a couple of days. It's that investors have been inconsistent in how they react, sometimes shrugging off what seems like significant developments and at other times seizing on what seems piecemeal. 

It's a time when "one headline can get you to change your mind," said Gary Flam, portfolio manager at Bel Air Investment Advisors in Los Angeles. "When you go from one day being concerned about Spain to the next day, 'Oh, they had a good auction,' that's a lack of conviction," meaning investors aren't sure what to think. 

The market "is really difficult to classify" at the moment, added Mike Schenk, senior economist at the Credit Union National Association, a trade group. "On one hand you hear about 'best day since whatever,' on the other hand you have days and weeks that don't look good at all." 

The Dow Jones industrial average fell 82.79 points to 13,032.75. That was a U-turn from Tuesday's gain of 194 points. 

The euro fell and Treasury prices rose as nervous investors looked for safe places to store their money. The yield on the 10-year Treasury note fell back below 2 percent and was 1.98 percent in afternoon trading. 

A flood of first-quarter earnings also influenced the market in temperamental ways. Of the S&P 500 companies to report earnings so far, 78 percent have recorded per-share earnings that beat analysts' estimates, according to FactSet senior earnings analyst John Butters. But that hasn't always been enough to lift their share prices. IBM and Intel beat estimates late Tuesday but fell the most in the Dow on Wednesday because investors were disappointed by flat revenue. St. Jude Medical and money manager BlackRock also beat estimates but their stocks fell anyway. 

The Standard & Poor's 500 fell 5.64 points to 1,385.14 and the Nasdaq composite index fell 11.37 points to 3,031.45. The declines come after a stellar first quarter, when the Dow and the S&P 500 both recorded their best openings to the year since 1998. 

To be sure, the European debt crisis isn't new. But Wednesday brought fresh reminders that the situation is impossible to predict. 

The International Monetary Fund issued an unsettling report saying banks could cut back significantly on lending to preserve capital. A Dutch bank refused to give a break to Greece's Hellenic Railway Organization and Athens' metro on money they owe, underscoring how difficult it will be for indebted countries to hammer out rescue agreements when there are so many competing interests to please. And a leader of the European Union slammed the 27 member countries, scolding them for administrative barriers that keep them from sharing workers and resources and potentially endangers any recovery. 

"We don't have clarity there, we don't know what's going to happen, and we don't know if things don't go our way what the ramifications will be," Schenk said. "You and I and the rest of the investment world will continue to worry about uncertainty and volatility for a good while." 

Spain reported that the proportion of bad loans at its banks has risen to an 18-year high, and its benchmark stock index fell 4 percent. 

For all the headlines that the Greek crisis generated, Spain is potentially a much bigger problem. Greece makes up about 2 percent of the gross domestic product of the 17 countries that use the euro, but Spain makes up 11 percent. Its problems also raise questions about how far the crisis will spread. 

"If you see deterioration in Spain, you've got to ask yourself, 'What happens with Portugal? What happens with Italy?'" said Quincy Krosby, market strategist for Prudential Financial. 

Investors will be closely watching Spain's sale of 10-year bonds Thursday. Those results could drive the market for the rest of the week. 

Excluding Greece, major European markets fell. That was a reversal from the previous day, when Spain's bond auction sent European stocks storming to their best day in four months. 

Britain's benchmark index fell 0.4 percent after the Bank of England hinted that it doesn't plan to extend its bond-buying program, which essentially pumps money into the economy and is meant to lift stock prices. Similar revelations from the Federal Reserve have hurt the U.S. market. 

In Germany, a relative stalwart among countries that use the euro, there was strong interest in a sale of 2-year government bonds. Though that could be construed as good news for Germany, it's also a sign that investors are nervous about the region's economy. People tend to plow their money into safe-haven bonds when they don't have much confidence in stocks. 

Among other stocks making big moves: 

—U.S.-listed shares of YPF, the energy company seized by the Argentine government, plunged nearly 33 percent. 

— Halliburton, the oil services company, rose more than 4 percent after posting a 23 percent jump in first-quarter profits. 

— Yahoo rose more than 3 percent after reporting late Tuesday that it had notched a year-over-year increase in quarterly revenue for the first time since 2008.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks drop on mixed news on profits, economy

Stocks drop for a second day as investors weigh higher earnings against weak economic reports

A slew of U.S. companies announced big profits Thursday, but investors spooked about the economy sold stocks anyway. 

Investors shifted between buying and selling early Thursday, then stuck with selling after deciding that strong earnings results weren't enough to make up for weak reports on jobs, housing and manufacturing. 

The Dow Jones industrial average fell 68.65 points, or 0.5 percent, to close at 12,964.10. The broader Standard & Poor's 500 index dropped 8.22 points, or 0.6 percent, to 1,376.92. 

Morgan Stanley rose 2.3 percent after it beat Wall Street's earnings and revenue estimates. UnitedHealth Group Inc. rose 2.4 percent after reporting higher profits. EBay, Southwest Airlines and Bank of America also beat forecasts. 

Stock indexes fell after two relatively weak economic reports came out mid-morning. An index of regional manufacturing compiled by the Philadelphia branch of the Federal Reserve dropped sharply, and the National Association of Realtors said home sales fell 2.6 percent last month. 

Earlier, the Labor Department said applications for unemployment benefits dipped 2,000 to 386,000. When the number is above 375,000, investors take it as a sign that hiring isn't strong enough to lower the unemployment rate. 

"None of these (reports) were disastrous, but they're not as strong as we like to see," said Brian Lazorishak, a portfolio manager at Chase Investment Counsel in Charlottesville, Va. 

In other trading, the Nasdaq composite fell 23.89 points, or 0.8 percent, to 3,007.56. Tech stocks could be in for some gains Friday following a strong earnings report after the closing bell Thursday from Microsoft. The software maker was up 2.8 percent in post-market trading after reporting a rise in sales of its Windows operating system. 

Thursday's slide began from the start of trading. Investors were on edge after stocks fell a day earlier on worries that Spain could have trouble paying down its government debt. Adding to the jitters, the Bank of Spain had reported that bad loans at the country's banks had hit an 18-year high. 

Before the opening bell Thursday, investors were nervously watching a sale of new government bonds from Spain. The auction met with high demand, and more bonds were sold than expected, but yields rose anyway. 

 *The NYSE DOW closed  	LOWER ▼	-68.65	points or ▼	-0.53%	Thursday, 19 April 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,964.10	▼	-68.65	▼	-0.53%	
	Nasdaq___	3,007.56	▼	-23.89	▼	-0.79%	
	S&P_500__	1,376.92	▼	-8.22	▼	-0.59%	
	30_Yr_Bond	3.109	▼	-0.02	▼	-0.54%	

NYSE Volume	 4,180,027,000 			 		 	
Nasdaq Volume	 2,001,596,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,744.55	▼	-0.74	▼	-0.01%	
	DAX_____	6,671.22	▼	-60.81	▼	-0.90%	
	CAC_40__	3,174.02	▼	-66.27	▼	-2.05%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,441.30	▲	14.10	▲	0.32%	
	Shanghai_Comp	2,378.63	▼	-2.21	▼	-0.09%	
	Taiwan_Weight	7,622.69	▲	17.69	▲	0.23%	
	Nikkei_225____	9,588.38	▼	-78.88	▼	-0.82%	
	Hang_Seng____	20,995.01	▲	53.93	▲	1.03%	
	Strait_Times___	3,006.39	▲	5.81	▲	0.19%	
	NZX 50 Index__	3,525.19	▲	2.43	▲	0.07%	

http://finance.yahoo.com/news/stocks-drop-mixed-news-profits-210742618.html

*Stocks drop on mixed news on profits, economy

Stocks drop for a second day as investors weigh higher earnings against weak economic reports*

By Bernard Condon, AP Business Writer

A slew of U.S. companies announced big profits Thursday, but investors spooked about the economy sold stocks anyway. 

Investors shifted between buying and selling early Thursday, then stuck with selling after deciding that strong earnings results weren't enough to make up for weak reports on jobs, housing and manufacturing. 

The Dow Jones industrial average fell 68.65 points, or 0.5 percent, to close at 12,964.10. The broader Standard & Poor's 500 index dropped 8.22 points, or 0.6 percent, to 1,376.92. 

Morgan Stanley rose 2.3 percent after it beat Wall Street's earnings and revenue estimates. UnitedHealth Group Inc. rose 2.4 percent after reporting higher profits. EBay, Southwest Airlines and Bank of America also beat forecasts. 

Stock indexes fell after two relatively weak economic reports came out mid-morning. An index of regional manufacturing compiled by the Philadelphia branch of the Federal Reserve dropped sharply, and the National Association of Realtors said home sales fell 2.6 percent last month. 

Earlier, the Labor Department said applications for unemployment benefits dipped 2,000 to 386,000. When the number is above 375,000, investors take it as a sign that hiring isn't strong enough to lower the unemployment rate. 

"None of these (reports) were disastrous, but they're not as strong as we like to see," said Brian Lazorishak, a portfolio manager at Chase Investment Counsel in Charlottesville, Va. 

In other trading, the Nasdaq composite fell 23.89 points, or 0.8 percent, to 3,007.56. Tech stocks could be in for some gains Friday following a strong earnings report after the closing bell Thursday from Microsoft. The software maker was up 2.8 percent in post-market trading after reporting a rise in sales of its Windows operating system. 

Thursday's slide began from the start of trading. Investors were on edge after stocks fell a day earlier on worries that Spain could have trouble paying down its government debt. Adding to the jitters, the Bank of Spain had reported that bad loans at the country's banks had hit an 18-year high. 

Before the opening bell Thursday, investors were nervously watching a sale of new government bonds from Spain. The auction met with high demand, and more bonds were sold than expected, but yields rose anyway. 

The yield on Spanish 10-year notes rose to 5.87 percent, an increase of 0.06 percentage point. 

European markets mostly fell. Spain's IBEX index fell 2.4 percent, Greece's main index 1.8 percent and France's CAC-40 fell 2 percent. 

All but three of the 30 stocks in the Dow fell. Companies whose profits are more closely tied to the economic cycle fell the most. Alcoa, an aluminum maker, and DuPont, a chemicals company, lost more than 1 percent each. 

Travelers, an insurer, rose 4.3 percent after a strong earnings report. 

Eight of the ten industry sectors in the S&P 500 fell. The biggest losers were industrial and information technology stocks, down more than 1 percent each. 

Uri Landesman, president of hedge fund Platinum Partners, said the good earnings are a bit of a sideshow. "There are bigger things at work here — European fears, unemployment," he said. "People are more worried about what's going to happen than what's in the rearview mirror." 

Stocks started drifting lower after noon. By mid-afternoon the Dow was down 136 points. The S&P 500 was hit by a drop in Apple. 

The iPhone maker dropped 3.4 percent to $587. Some analysts think the stock's recent drop reflects investors taking profits after a big run-up. Others think the fall is more ominous, perhaps a signal that the company will sell fewer iPhones than expected. 

In other corporate news, Tumi Holdings, a maker of high-end luggage, jumped 47 percent to $26.50 on its first day of trading. 

The U.S.-listed shares of cell phone maker Nokia sank 3.8 percent after the Finnish company reported a loss for the first three months of the year and a 40 percent plunge in device sales. The company faces fierce competition from Apple's iPhone and handset makers that use Google's Android software. 

Human Genome Sciences doubled to $14.17 after the company spurned a takeover offer from GlaxoSmithKline of $13 per share, saying it undervalues the company. The biotech drug maker, which produces the lupus treatment Benlysta, said it would consider other options including a sale of the company.


----------



## bigdog

Source: http://finance.yahoo.com 

Stronger profits from Microsoft, McDonald's and other major U.S. corporations pushed stocks higher Friday. Optimism from Europe helped brighten the mood. 

The Dow Jones industrial average and the Standard & Poor's 500 index had a winning week for the first time this month. 

"There's been a wrestling match all week long between strong earnings and weak economic data," said Lawrence Creatura, a portfolio manager at Federated Investors, the money-management firm. "At the moment, earnings are winning." 

Before the market opened, McDonald's posted better quarterly profits, buoyed by warm weather and sales of new menu items like Chicken McBites and oatmeal. Sales picked up even in Europe, McDonald's' biggest market, despite economic turmoil and severe weather. 

Microsoft beat analysts' projections with quarterly earnings and revenue, and sales in its Windows division were surprisingly strong. And General Electric posted a profit of more than $3 billion, helped by orders for locomotives, aircraft engines and other equipment. 

The Dow rose 65.16 points to close at 13,029.26. The S&P 500 added 1.61 points to 1,378.53. 

Corporate earnings results have provided a pleasant surprise, said Sam Stovall, chief equity strategist at S&P Capital IQ. After nine straight quarters of growth, earnings for S&P 500 companies were expected to be nearly flat. But eight of every 10 companies that have reported so far, including Coca-Cola and IBM, have beaten estimates. As a result, first-quarter earnings are now projected to rise 4.4 percent, according to S&P. 

In Europe, Germany's DAX rose 1.2 percent, and stock indexes in France and Spain were higher. A closely watched survey in Germany, the continent's economic powerhouse, showed business optimism rising for the sixth straight month. Economists had expected a decline. 

In other U.S. trading, Apple sank 2.5 percent, helping to tug the Nasdaq composite index down 7.11 points to 3,000.45. Apple, the most valuable company in the world, accounts for 12 percent of the Nasdaq. 

The Dow gained 1.4 percent this week, and the S&P 500 index 0.6 percent. But it wasn't a smooth ride. Better earnings reports and higher retail sales helped drive the stock market up to start the week. The Dow rose 194 points on Tuesday, its best day in more than a month.

 *The NYSE DOW closed  	HIGHER ▲	65.16	points or ▲	0.50%	Friday, 20 April 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,029.26	▲	65.16	▲	0.50%	
	Nasdaq___	3,000.45	▼	-7.11	▼	-0.24%	
	S&P_500__	1,378.53	▲	1.61	▲	0.12%	
	30_Yr_Bond	3.128	▲	0.02	▲	0.61%	

NYSE Volume	 3,799,861,750 			 		 	
Nasdaq Volume	 1,934,940,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,772.15	▲	27.60	▲	0.48%	
	DAX_____	6,750.12	▲	78.90	▲	1.18%	
	CAC_40__	3,188.58	▲	14.56	▲	0.46%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,444.40	▲	3.10	▲	0.07%	
	Shanghai_Comp	2,406.86	▲	28.23	▲	1.19%	
	Taiwan_Weight	7,507.15	▼	-115.54	▼	-1.52%	
	Nikkei_225____	9,561.36	▼	-27.02	▼	-0.28%	
	Hang_Seng____	21,010.64	▲	53.93	▲	0.07%	
	Strait_Times___	2,994.48	▼	-13.73	▼	-0.46%	
	NZX 50 Index__	3,516.23	▼	-8.96	▼	-0.25%	

http://au.finance.yahoo.com/news/first-winning-week-april-stocks-203928258.html

*First winning week of April for stocks

Stocks have first winning week of April as earnings win 'wrestling match' with economic data*

By Matthew Craft, AP Business Writer

 Stronger profits from Microsoft, McDonald's and other major U.S. corporations pushed stocks higher Friday. Optimism from Europe helped brighten the mood. 

The Dow Jones industrial average and the Standard & Poor's 500 index had a winning week for the first time this month. 

"There's been a wrestling match all week long between strong earnings and weak economic data," said Lawrence Creatura, a portfolio manager at Federated Investors, the money-management firm. "At the moment, earnings are winning." 

Before the market opened, McDonald's posted better quarterly profits, buoyed by warm weather and sales of new menu items like Chicken McBites and oatmeal. Sales picked up even in Europe, McDonald's' biggest market, despite economic turmoil and severe weather. 

Microsoft beat analysts' projections with quarterly earnings and revenue, and sales in its Windows division were surprisingly strong. And General Electric posted a profit of more than $3 billion, helped by orders for locomotives, aircraft engines and other equipment. 

The Dow rose 65.16 points to close at 13,029.26. The S&P 500 added 1.61 points to 1,378.53. 

Corporate earnings results have provided a pleasant surprise, said Sam Stovall, chief equity strategist at S&P Capital IQ. After nine straight quarters of growth, earnings for S&P 500 companies were expected to be nearly flat. But eight of every 10 companies that have reported so far, including Coca-Cola and IBM, have beaten estimates. As a result, first-quarter earnings are now projected to rise 4.4 percent, according to S&P. 

In Europe, Germany's DAX rose 1.2 percent, and stock indexes in France and Spain were higher. A closely watched survey in Germany, the continent's economic powerhouse, showed business optimism rising for the sixth straight month. Economists had expected a decline. 

In other U.S. trading, Apple sank 2.5 percent, helping to tug the Nasdaq composite index down 7.11 points to 3,000.45. Apple, the most valuable company in the world, accounts for 12 percent of the Nasdaq. 

The Dow gained 1.4 percent this week, and the S&P 500 index 0.6 percent. But it wasn't a smooth ride. Better earnings reports and higher retail sales helped drive the stock market up to start the week. The Dow rose 194 points on Tuesday, its best day in more than a month. 

Then worries about Europe came storming back. Markets reversed course Wednesday, after the Bank of Spain said that the amount of bad loans held by Spanish banks rose to an 18-year high. 

If those banks falter, it would put pressure on Spain's already troubled government to prop them up. Weak reports on jobs, housing and manufacturing in the U.S. added to the selling pressure, and the Dow slumped 151 points in two days. 

"It's been like the weather here in upstate New York — unpredictable," Creatura said. "One day is up, the next day is down." 

The encouraging news out of Germany helped drive oil prices up Friday. Benchmark U.S. crude rose 78 cents to finish at $103.05 per barrel in New York. Brent crude, widely used by U.S. refiners to produce gasoline, added 76 cents to $118.76 in London. 

Among stocks making big moves in the United States: 

— Oil services giant Schlumberger Ltd. rose 3 percent. The company's quarterly profits jumped almost 38 percent as strong drilling activity in the Gulf of Mexico and the Middle East offset a slowdown in North America's natural gas fields. Schlumberger said that world oil demand appears to have "stabilized" and that the risk of a double-dip recession has declined. 

— E-Trade Financial Corp. jumped 6 percent, the largest gain in the S&P 500. The online broker reported a 40 percent jump in first-quarter profit after the close of trading Thursday, beating Wall Street estimates with the help of a big tax benefit. 

— SanDisk Corp. plummeted 11 percent, the S&P's biggest loser. The flash memory maker said late Thursday that weak demand and low prices cut its quarterly profit by nearly half. SanDisk warned that it expects the trend to continue. 

— Tempur-Pedic International Inc., the mattress maker, plunged 20.6 percent after posting a disappointing full-year earnings forecast. It cited concerns about competition and foreign exchange rates.

4685


----------



## bigdog

Source: http://finance.yahoo.com 

US stocks slide on economic tremors from Europe

Stocks fall on European debt worries, disappointing US earnings

A collection of worrying news out of Europe sent stocks sharply lower on Monday. 

The Dutch government collapsed Monday, a day after French President Nicolas Sarkozy lost the first round of that country's presidential election. A new report showed that European government debt continues to pile up despite severe budget cuts, which have led to unrest and political upheaval across the continent. 

Europe's major stock markets plunged. In the U.S., the Dow Jones industrial average lost 102.09 points to close at 12,927.17. The Dow had dropped as many as 183 points in morning trading then spent the rest of the day climbing back. 

"The main concern today is the stability of the euro zone as a whole," said Dan Greenhaus, chief global strategist at the brokerage BTIG. 

Figures reported by the European Union's statistics office confirmed the effects of budget-cutting programs on countries that use the euro currency. Even with widespread spending cuts, overall debt rose to 87.2 percent, the highest level since the euro was created. Separately, a survey of the euro zone's manufacturing and services sectors unexpectedly fell in April. 

In France, Sarkozy came in second behind Francois Hollande, a harsh critic of the spending cuts prescribed as a way to end the region's debt crisis. Sarkozy and Germany's Chancellor Angela Merkel have been the main architects of Europe's efforts to avoid a collapse of the region's shared currency. 

"To the extent that Europe has any leaders, it's very much Merkel and Sarkozy," Greenhaus said. "If Sarkozy were to lose, you'd change the leadership of Europe at arguably the worst possible time." 

The Dutch government resigned Monday after it couldn't reach agreement with an opposition party to bring its budget deficit within European Union rules. The budget dispute raised the prospect that the Netherlands could lose its top AAA credit rating. 

 *The NYSE DOW closed  	LOWER ▼	-102.09	points or ▼	-0.78%	Monday, 23 April 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,927.17	▼	-102.09	▼	-0.78%	
	Nasdaq___	2,970.45	▼	-30.00	▼	-1.00%	
	S&P_500__	1,366.94	▼	-11.59	▼	-0.84%	
	30_Yr_Bond	3.084	▼	-0.04	▼	-1.41%	

NYSE Volume	 3,654,861,500 			 		 	
Nasdaq Volume	 1,801,276,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,665.57	▼	-106.58	▼	-1.85%	
	DAX_____	6,523.00	▼	-227.12	▼	-3.36%	
	CAC_40__	3,098.37	▼	-90.21	▼	-2.83%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,430.30	▼	-14.10	▼	-0.32%	
	Shanghai_Comp	2,388.59	▼	-18.28	▼	-0.76%	
	Taiwan_Weight	7,481.09	▼	-26.06	▼	-0.35%	
	Nikkei_225____	9,542.17	▼	-19.19	▼	-0.20%	
	Hang_Seng____	20,624.39	▲	53.93	▼	-1.84%	
	Strait_Times___	2,961.18	▼	-33.30	▼	-1.11%	
	NZX 50 Index__	3,513.45	▼	-2.78	▼	-0.08%	

http://finance.yahoo.com/news/us-stocks-slide-economic-tremors-134720183.html

*US stocks slide on economic tremors from Europe

Stocks fall on European debt worries, disappointing US earnings*

By Matthew Craft, AP Business Writer 

A collection of worrying news out of Europe sent stocks sharply lower on Monday. 

The Dutch government collapsed Monday, a day after French President Nicolas Sarkozy lost the first round of that country's presidential election. A new report showed that European government debt continues to pile up despite severe budget cuts, which have led to unrest and political upheaval across the continent. 

Europe's major stock markets plunged. In the U.S., the Dow Jones industrial average lost 102.09 points to close at 12,927.17. The Dow had dropped as many as 183 points in morning trading then spent the rest of the day climbing back. 

"The main concern today is the stability of the euro zone as a whole," said Dan Greenhaus, chief global strategist at the brokerage BTIG. 

Figures reported by the European Union's statistics office confirmed the effects of budget-cutting programs on countries that use the euro currency. Even with widespread spending cuts, overall debt rose to 87.2 percent, the highest level since the euro was created. Separately, a survey of the euro zone's manufacturing and services sectors unexpectedly fell in April. 

In France, Sarkozy came in second behind Francois Hollande, a harsh critic of the spending cuts prescribed as a way to end the region's debt crisis. Sarkozy and Germany's Chancellor Angela Merkel have been the main architects of Europe's efforts to avoid a collapse of the region's shared currency. 

"To the extent that Europe has any leaders, it's very much Merkel and Sarkozy," Greenhaus said. "If Sarkozy were to lose, you'd change the leadership of Europe at arguably the worst possible time." 

The Dutch government resigned Monday after it couldn't reach agreement with an opposition party to bring its budget deficit within European Union rules. The budget dispute raised the prospect that the Netherlands could lose its top AAA credit rating. 

The turmoil roiled Europe's largest markets. Germany's major stock index, the DAX, lost 3.4 percent, its worst day in six weeks. France's CAC-40 index dropped 2.8 percent, wiping away all its gains for the year. 

The Standard & Poor's 500 index lost 11.59 points, or 0.8 percent, to 1,366.94. 

The Nasdaq composite fell an even 30 points, or 1 percent, to 2,970.45. 

Traders shifted money into Treasurys on Monday. The price of the 10-year Treasury note rose, pushing its yield down to 1.94 percent from 1.96 percent late Friday. 

David Kelly, chief market strategist at J.P. Morgan Funds, said it looks like investors are looking for a reason to take profits after stocks soared in the first three months of the year. The S&P 500 index rose 12 percent in the first quarter, its best start since 1998. Many investors Kelly talks to see no reason for the market to push higher. 

"There's a complete lack of enthusiasm," he said. "And it's making stocks cheap and bonds expensive." 

Concerns over Europe pushed the price of West Texas crude oil down 77 cents a barrel to settle at $103.11 per barrel in New York. 

Europe's slowing economy also hurt Kellogg Co. The food giant slashed its full-year profit forecast, blaming weak sales in the U.S. and Europe. Kellogg's stock dropped 6.1 percent. 

After the closing bell, Netflix reported its first quarterly loss in seven years and its stock plunged 13.6 percent in aftermarket trading. 

Among other stocks making big moves: 

”” Wal-Mart Stores sank 4.7 percent, the biggest drop of the Dow's 30 stocks. A report in The New York Times that said the company shut down an investigation into bribery by executives at its Mexican unit. The retailer said it was investigating for any breach of the U.S Foreign Corrupt Practices Act. 

”” Hasbro fell 5.2 percent after posting a first-quarter loss on falling sales and costs tied to cutting jobs. Weak sales of "My Littlest Pet Shop" miniatures and other girl's toys were partly to blame. 

””SunTrust Banks rose 2.8 percent after reporting quarterly earnings that beat analysts' estimates. The regional bank said fewer loans went bad and that it made more mortgage and commercial loans.


----------



## bigdog

Source: http://finance.yahoo.com 

Strong earnings from AT&T, 3M lift Dow average; nerves about Europe ease after fearsome day

The Dow closed up 74.39 points, or 0.6 percent, at 13,001.56. IBM rose solidly after the company said it is raising its quarterly dividend and plans to repurchase $7 billion more of its stock. 

The S&P 500 rose 5.03 points, or 0.4 percent, to 1,371.97. 

The Nasdaq composite average fell 8.85 points to 2,961.60. Apple is the Nasdaq's biggest component and the biggest company by market value. 

Muscular U.S. corporate earnings and higher spirits in Europe propelled U.S. stocks higher Tuesday. 

Five of the 30 big companies that make up the Dow Jones industrial average rose more than 1.5 percent. AT&T led the gains after reporting better-than-expected profit. Verizon, AT&T's main rival, was close behind. 3M rose sharply after delivering an impressive quarterly report. GE and DuPont rounded out the list of top gainers. 

Traders punished Apple after AT&T said it activated far fewer of Apple's iPhones. Apple fell two percent, dragging the Nasdaq composite average to a lower close. Apple shares recovered the day's losses several times over in after-hours trading after the company announced another record quarterly profit that easily beat analysts' forecasts. 

Chocolate maker Hershey and regional bank Regions Financial helped boost the Standard & Poor's 500 index after both companies outpaced Wall Street's estimates. 

Earnings reports are blowing the tops of analysts' expectations, providing temporary relief for markets roiled by fears about Europe, said Sam Stovall, chief equity strategist with financial-data firm S&P Capital IQ. He said analysts had expected only a half-percent profit increase for the S&P 500 this quarter. Based on the results so far, he said, the gain could be ten times bigger.

 *The NYSE DOW closed  	HIGHER ▲	74.39	points or ▲	0.58%	Tuesday, 24 April 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,001.56	▲	74.39	▲	0.58%	
	Nasdaq___	2,961.60	▼	-8.85	▼	-0.30%	
	S&P_500__	1,371.97	▲	5.03	▲	0.37%	
	30_Yr_Bond	3.114	▲	0.03	▲	0.97%	

NYSE Volume	 3,617,098,250 			 		 	
Nasdaq Volume	 1,705,023,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,709.49	▲	43.92	▲	0.78%	
	DAX_____	6,590.41	▲	67.41	▲	1.03%	
	CAC_40__	3,169.32	▲	70.95	▲	2.29%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,433.90	▲	3.60	▲	0.08%	
	Shanghai_Comp	2,388.83	▲	0.25	▲	0.01%	
	Taiwan_Weight	7,498.84	▲	17.75	▲	0.24%	
	Nikkei_225____	9,468.04	▼	-74.13	▼	-0.78%	
	Hang_Seng____	20,677.16	▲	53.93	▲	0.26%	
	Strait_Times___	2,974.37	▲	12.02	▲	0.41%	
	NZX 50 Index__	3,519.86	▲	6.41	▲	0.18%	

http://finance.yahoo.com/news/strong-earnings-t-3m-lift-200932880.html

*Strong earnings from AT&T, 3M lift Dow average

Strong earnings from AT&T, 3M lift Dow average; nerves about Europe ease after fearsome day*

By Daniel Wagner, AP Business Writer 

Muscular U.S. corporate earnings and higher spirits in Europe propelled U.S. stocks higher Tuesday. 

Five of the 30 big companies that make up the Dow Jones industrial average rose more than 1.5 percent. AT&T led the gains after reporting better-than-expected profit. Verizon, AT&T's main rival, was close behind. 3M rose sharply after delivering an impressive quarterly report. GE and DuPont rounded out the list of top gainers. 

Traders punished Apple after AT&T said it activated far fewer of Apple's iPhones. Apple fell two percent, dragging the Nasdaq composite average to a lower close. Apple shares recovered the day's losses several times over in after-hours trading after the company announced another record quarterly profit that easily beat analysts' forecasts. 

Chocolate maker Hershey and regional bank Regions Financial helped boost the Standard & Poor's 500 index after both companies outpaced Wall Street's estimates. 

Earnings reports are blowing the tops of analysts' expectations, providing temporary relief for markets roiled by fears about Europe, said Sam Stovall, chief equity strategist with financial-data firm S&P Capital IQ. He said analysts had expected only a half-percent profit increase for the S&P 500 this quarter. Based on the results so far, he said, the gain could be ten times bigger. 

"These are legitimately strong results, and in retrospect, the bar was set too low," Stovall said. 

The gains for blue chips were broad. Only five Dow components fell, led by Wal-Mart Stores. The world's biggest retailer is reeling from reports over the weekend that top company officials knew about widespread bribery of foreign officials. 

European stocks rallied into the close a day after one of their worst drops in months. Monday's sell-off followed fears that deficit-cutting deals by some European nations might unravel. 

On Tuesday, as Monday's panicked atmosphere lifted, interest rates on Spanish bonds already in circulation declined. France's CAC-40 index closed up 2.3 percent. Germany's DAX rose one percent, London's FTSE 100 0.8 percent. 

Still, there were signs that Europe's troubles persist. Bond investors demanded much higher interest rates from Spain and Italy when they auctioned new debt, suggesting that there is more pain ahead for those debt-strapped countries. 

Stovall expects fears about Europe to overshadow earnings results in the coming weeks. After months of strong stock-market gains and little talk about Europe, traders are again nervous that the crisis will boil over, harming the global economy and gumming up the financial system, he said. 

"First-quarter earnings are helping to justify the equity market's advance since early October," Stovall said, but "if Europe continues to have its problems, that will outweigh" the corporate earnings news. 

Stocks rose consistently from early October through the end of the first quarter on March 31. Trading has since turned volatile. Swings of more than 100 points in the Dow have become common, a contrast to the steady, modest gains of the first three months of the year. 

The Dow closed up 74.39 points, or 0.6 percent, at 13,001.56. IBM rose solidly after the company said it is raising its quarterly dividend and plans to repurchase $7 billion more of its stock. 

The S&P 500 rose 5.03 points, or 0.4 percent, to 1,371.97. 

The Nasdaq composite average fell 8.85 points to 2,961.60. Apple is the Nasdaq's biggest component and the biggest company by market value. 

As stocks rose, traders sold ultra-safe Treasurys. The yield on the 10-year Treasury note rose to 1.97 percent from 1.94 percent late Monday. 

Among the other U.S. companies swinging on earnings news: 

”” Oilfield services contractor Baker Hughes rose 5 percent after its profit exceeded expectations because of strong drilling activity in Africa. 

”” Coach fell 4 percent after the maker of high-end leather goods said results in U.S. department stores were weak, despite stronger sales in China. 

”” Netflix plunged 14 percent after saying it is adding new subscribers slowly in the second quarter. Investors are nervous about stronger competition from video-streaming rivals such as Amazon.com and Comcast. 

A wave of weak U.S. economic data failed to douse the rally for stocks. Sales of new homes fell by 7 percent last month, the biggest decline in a year, the government said after markets opened. Home prices in most major U.S. cities fell in February for a sixth straight month. 

Americans' confidence in the economy held steady despite rising gas prices and falling home values, according to the Conference Board, a private research group.


----------



## bigdog

Source: http://finance.yahoo.com 

The Nasdaq composite index shot 2 percent higher Wednesday, powered by a surge in Apple. The iPhone maker's stock climbed $50 after the company once again blew past Wall Street's profit forecasts. 

With Apple's help, the technology-focused Nasdaq posted its best day this year. 

Apple, the biggest component of the index by far, climbed 8.9 percent after reporting that its earnings doubled in the first three months of the year. The company sold 35 million iPhones, twice as many as in the same quarter a year ago. 

The surge made back about half of what Apple's stock lost in the two weeks before its earnings announcement late Tuesday. One reason for the slump was an analyst's suggestion that Apple could not keep up the momentum in iPhone sales. 

Stock in Apple, the most valuable public company in the world, hit $644 in intraday trading on April 10 and slid as low as $555 on Tuesday. 

Apple jumped nearly $50 to $610 on Wednesday. The gain helped power the Nasdaq up 68.03 points to 3,029.63. Apple makes up 12 percent of the Nasdaq. 

The Nasdaq rose more than other market indexes thanks to its heavy weighting of Apple shares. The Standard & Poor's 500 index includes Apple; the Dow Jones industrial average doesn't. 

The Dow gained 89.16 points to close at 13,090.72, a 0.7 percent increase. The S&P 500 index rose 18.72 points, or 1.4 percent, to 1,390.69. Apple accounts for 4 percent of the S&P 500. 

The tech giant joined a growing list of companies that have reported surprisingly strong first-quarter earnings. Through last week, eight out of 10 companies that reported earnings had beat estimates, including Microsoft, IBM and Coca-Cola. Even so, the S&P 500 index is still down 1 percent for the month.

 *The NYSE DOW closed  	HIGHER ▲	89.16	points or ▲	0.69%	Wednesday, 25 April 2012	** 
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,090.72	▲	89.16	▲	0.69%	 
	Nasdaq___	3,029.63	▲	68.03	▲	2.30%	 
	S&P_500__	1,390.69	▲	18.72	▲	1.36%	 
	30_Yr_Bond	3.146	▲	0.03	▲	1.03%	 

NYSE Volume	 3,981,392,750 			 		 		
Nasdaq Volume	 1,722,672,620 			 		 		

 *Europe						** 
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,718.89	▲	9.40	▲	0.16%	 
	DAX_____	6,704.50	▲	114.09	▲	1.73%	 
	CAC_40__	3,233.46	▲	64.14	▲	2.02%	 

 *Asia Pacific						** 
 Symbol...... ….....Last .....Change…...... * 
ASX_All_Ord__	4,433.90 closed for holiday
	Shanghai_Comp	2,406.81	▲	17.98	▲	0.75%	 
	Taiwan_Weight	7,563.18	▲	64.34	▲	0.86%	 
	Nikkei_225____	9,561.01	▲	92.97	▲	0.98%	 
	Hang_Seng____	20,646.29	▲	53.93	▼	-0.15%	 
	Strait_Times___	2,980.19	▲	5.82	▲	0.20%	 
NZX 50 Index__	3,519.86 closed for holiday

http://finance.yahoo.com/news/apples-blowout-quarter-propels-nasdaq-142624816.html

*Apple's blowout quarter propels Nasdaq to big gain*
Associated Press 

NEW YORK (AP) -- The Nasdaq composite index shot 2 percent higher Wednesday, powered by a surge in Apple. The iPhone maker's stock climbed $50 after the company once again blew past Wall Street's profit forecasts. 

With Apple's help, the technology-focused Nasdaq posted its best day this year. 

Apple, the biggest component of the index by far, climbed 8.9 percent after reporting that its earnings doubled in the first three months of the year. The company sold 35 million iPhones, twice as many as in the same quarter a year ago. 

The surge made back about half of what Apple's stock lost in the two weeks before its earnings announcement late Tuesday. One reason for the slump was an analyst's suggestion that Apple could not keep up the momentum in iPhone sales. 

Stock in Apple, the most valuable public company in the world, hit $644 in intraday trading on April 10 and slid as low as $555 on Tuesday. 

Apple jumped nearly $50 to $610 on Wednesday. The gain helped power the Nasdaq up 68.03 points to 3,029.63. Apple makes up 12 percent of the Nasdaq. 

The Nasdaq rose more than other market indexes thanks to its heavy weighting of Apple shares. The Standard & Poor's 500 index includes Apple; the Dow Jones industrial average doesn't. 

The Dow gained 89.16 points to close at 13,090.72, a 0.7 percent increase. The S&P 500 index rose 18.72 points, or 1.4 percent, to 1,390.69. Apple accounts for 4 percent of the S&P 500. 

The tech giant joined a growing list of companies that have reported surprisingly strong first-quarter earnings. Through last week, eight out of 10 companies that reported earnings had beat estimates, including Microsoft, IBM and Coca-Cola. Even so, the S&P 500 index is still down 1 percent for the month. 

"Sure, earnings are a lot better than expected, but this looks like a quarter where the market doesn't react to that," said Brian Gendreau, market strategist at Cetera Financial. "I don't think that the positive earnings season we've had is enough to shake this market out of its trading range." 

Technology stocks in the S&P 500 gained 3 percent as a group, the best-performing industry in the market. Material and consumer-discretionary companies also had a strong day. 

Financial markets barely budged after the Federal Reserve said it would stick with its plan to keep a key short-term interest rate near zero. The Fed detailed no plans to extend its bond-buying program when the current iteration ends in June. 

The yield on the 10-year Treasury note increased slightly following the Fed's announcement. Gold prices fell and the dollar inched up against other currencies. Stock indexes stayed where they were. 

Some European markets posted strong gains. Benchmark stock indexes rose 3 percent in Italy and 2 percent in France. Germany's market gained 1.7 percent. British shares rose just 0.2 percent following news that the British economy fell back into recession for the first time since 2009. 

For Europe, Apple may not be an economic bellwether, but analysts said it's a valuable gauge of confidence in markets. 

Among other stocks making moves: 

— Boeing rose 5 percent, the best performer among the 30 stocks that make up the Dow. Its first-quarter profit soared 58 percent. Airlines around the world are updating their fleets with more fuel-efficient planes. 

— Harley-Davidson jumped 6 percent. U.S. sales of the company's motorcycles soared 26 percent in the first three months of the year, the fourth straight increase. The company credited the gain to a better U.S. economy and a restructuring program the company put in place four years ago. 

— Lorillard fell 4 percent after the cigarette maker reported a 10 percent drop in income for the first quarter. The company said higher prices couldn't make up for a fall in sales of its Newport and Maverick cigarettes.


----------



## bigdog

Source: http://finance.yahoo.com 

US stocks rise on bright earnings reports and a jump in home sales; problems still loom

On a day that brought both good and bad news about the economy, investors chose to see the glass as half-full. 

U.S. stocks edged higher Thursday, pushed up by a batch of bright earnings reports and encouraging news about home sales. In the fight for investors' attention, those upbeat signs muscled out a disappointing report on unemployment claims, mixed results on European markets and weakness at big-name companies like Aetna, UPS and Dow Chemical. 

The Dow Jones industrial average rose 113.90 points to 13,204.62. The Standard & Poor's 500 climbed 9.29 points to 1,399.98. The index momentarily flitted above 1,400 in the late afternoon, its first foray past that psychological barrier in three weeks. The Nasdaq composite index rose 20.98 points to 3,050.61. 

The National Association of Realtors reported that the number of contracts to buy homes is rising, which pushed up the stocks of home builders like PulteGroup and Lennar. Companies like Lockheed Martin, the aerospace and defense contractor, and Starwood Hotels, which runs chains including Westin and Sheraton, climbed after beating analysts' predictions for first-quarter earnings. Amazon.com rose 1.6 percent during the trading day, then reported much-higher-than-expected earnings after the close. Its stock blasted nearly 14 percent higher around 5 p.m. 

Still, investors didn't need to look far to find problems, or at least confusion, looming on the horizon. 

In the U.S., the government reported that the number of people seeking unemployment benefits was little changed last week, stoking more uncertainty about when and if companies will return to pre-recession levels of hiring. 

 *The NYSE DOW closed  	HIGHER ▲	113.90	points or ▲	0.87%	Thursday, 26 April 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,204.62	▲	113.90	▲	0.87%	
	Nasdaq___	3,050.61	▲	20.98	▲	0.69%	
	S&P_500__	1,399.98	▲	9.29	▲	0.67%	
	30_Yr_Bond	3.135	▼	-0.01	▼	-0.35%	

NYSE Volume	 4,034,737,000 			 		 	
Nasdaq Volume	 1,785,104,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,748.72	▲	29.83	▲	0.52%	
	DAX_____	6,739.90	▲	35.40	▲	0.53%	
	CAC_40__	3,229.32	▼	-4.14	▼	-0.13%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,445.00	▲	11.10	▲	0.25%	
	Shanghai_Comp	2,404.70	▼	-2.12	▼	-0.09%	
	Taiwan_Weight	7,521.35	▼	-41.83	▼	-0.55%	
	Nikkei_225____	9,561.83	▲	0.82	▲	0.01%	
	Hang_Seng____	20,809.71	▲	53.93	▲	0.79%	
	Strait_Times___	2,981.47	▲	1.69	▲	0.06%	
	NZX 50 Index__	3,520.82	▲	0.97	▲	0.03%	

http://finance.yahoo.com/news/home-sales-bump-earnings-send-203847421.html

*Home sales bump, earnings send stock market higher

US stocks rise on bright earnings reports and a jump in home sales; problems still loom*

By Christina Rexrode, AP Business Writer							
On a day that brought both good and bad news about the economy, investors chose to see the glass as half-full. 

U.S. stocks edged higher Thursday, pushed up by a batch of bright earnings reports and encouraging news about home sales. In the fight for investors' attention, those upbeat signs muscled out a disappointing report on unemployment claims, mixed results on European markets and weakness at big-name companies like Aetna, UPS and Dow Chemical. 

The Dow Jones industrial average rose 113.90 points to 13,204.62. The Standard & Poor's 500 climbed 9.29 points to 1,399.98. The index momentarily flitted above 1,400 in the late afternoon, its first foray past that psychological barrier in three weeks. The Nasdaq composite index rose 20.98 points to 3,050.61. 

The National Association of Realtors reported that the number of contracts to buy homes is rising, which pushed up the stocks of home builders like PulteGroup and Lennar. Companies like Lockheed Martin, the aerospace and defense contractor, and Starwood Hotels, which runs chains including Westin and Sheraton, climbed after beating analysts' predictions for first-quarter earnings. Amazon.com rose 1.6 percent during the trading day, then reported much-higher-than-expected earnings after the close. Its stock blasted nearly 14 percent higher around 5 p.m. 

Still, investors didn't need to look far to find problems, or at least confusion, looming on the horizon. 

In the U.S., the government reported that the number of people seeking unemployment benefits was little changed last week, stoking more uncertainty about when and if companies will return to pre-recession levels of hiring. 

John De Clue, global investment strategist at U.S. Bank's wealth management business in Minneapolis, was watching the yield on 10-year Italian bonds tick up. That means the Italian government is paying more to persuade investors to hold its bonds, a sign that investors are worried about Italy's ability to repay its debts. 

De Clue described the situation in Europe as "two steps forward and one step back." 

"Okay, the situation doesn't look as serious as it did back in October," De Clue said. "But it's very difficult to understand what the market looks like with the need for austerity but also the need to avoid a recession." 

But Doug Cote, chief market strategist at ING Investment Management in New York, thinks concerns about Europe are overblown. Though the debt crisis isn't solved, he said, the European Central Bank has set up enough safeguards to keep Europe's problems from spilling across the ocean for the near future. 

"There's breathing room," Cote said. "I think they get it done no matter what happens with French elections, no matter if the Dutch government dissolves. This is way overplayed." 

European markets were mixed. Stock indexes rose in Germany and Britain but fell in Greece, Spain and France. Spain's Banco Santander reported that it set aside more money to cover bad loans, heightening concerns that Spain could join Greece, Ireland and Portugal in asking for a bailout. 

U.S. companies' earnings reports also underscored the European problem. Dow Chemical, the nation's largest chemical maker, and UPS, the package delivery company, both fell after citing a cooling down of business in Europe. 

Despite those declines, first-quarter earnings reports have been mostly positive. Of the roughly 200 companies on the S&P 500 that have reported earnings, about 80 percent have beat analysts' forecasts, according to calculations by John Butters, senior earnings analyst at the financial data provider FactSet. That's better than the past four quarters, which averaged about 72 percent, he said. 

Earnings growth has also come in better than expected. Four weeks ago, analysts had expected year-over-year earnings growth of about 0.1 percent. So far, companies have turned in about 5.9 percent. 

To be sure, much of the growth is being driven by a few giant companies. Strip Apple out of the S&P 500, and earnings growth would drop to 3.6 percent, Butters calculates. And banks, which have also turned in strong first-quarter earnings, were helped by one-time items like accounting adjustments. 

The past four weeks have been helter-skelter for the market, with indexes waffling between gains and losses. The three major indexes are up for the week so far but down for the second quarter, which started at the beginning of April. 

It's a contrast to the relative gaiety of the first three months of the year, when the market charged higher as investors shrugged off the previous year's concerns about Europe and gridlock in Washington over fiscal policy. Now, some of those worries appear to be resurfacing. 

Natalie Trunow, chief investment officer of stocks at Calvert Investments in Bethesda, Md., said investors will probably continue to be cautious until they have more clarity on those and other issues. 

"We have an election coming up, we have the expiration of the Bush tax cuts and payroll breaks, we have the budget negotiations coming up soon," Trunow said. "All of this is going to give markets indigestion."


----------



## bigdog

Source: http://finance.yahoo.com 

For the week, the Dow is up 1.5 percent, the S&P 500 is up 1.8 percent and the Nasdaq is up 2.3 percent.

Dow Jones industrial average turns positive for April; Amazon surges on jump in shipments

 It took a while, but the Dow Jones industrial average finally gained back all its losses for the month. 

On a day of conflicting signals, as investors weighed disappointing economic news against reports of higher profits at big companies, stocks inched higher. All three major indexes were up Friday, though barely. 

The Dow climbed 23.69 points to 13,228.31, a tiny 0.2 percent gain. That was enough to push the index into the black for April. It's now 16 points higher than where it began the month. 

The Standard & Poor's 500 edged up 3.38 points, or 0.2 percent, to 1,403.36. The Nasdaq composite rose 18.59 points, or 0.6 percent, to 3,069.20. 

Amazon jumped 16 percent after the online retailer reported a big increase in shipments. Online travel agency Expedia Inc. surged 24 percent on higher profits from its hotel-booking business. 

Companies in the S&P 500 are now on track to report a 6 percent rise in earnings for the first three months of 2012 compared with a year ago, according to FactSet, a financial data provider. Last month, Wall Street analysts had expected earnings this quarter to be flat. 

The stock gains Friday came despite a government report earlier in the day that the U.S. economy grew at annual rate of 2.2 percent, below the 2.5 percent that economist had expected. It grew at a faster rate, 3 percent, in the final three months of 2011. 

 *The NYSE DOW closed  	HIGHER ▲	23.69	points or ▲	0.18%	Friday, 27 April 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,228.31	▲	23.69	▲	0.18%	
	Nasdaq___	3,069.20	▲	18.59	▲	0.61%	
	S&P_500__	1,403.36	▲	3.38	▲	0.24%	
	30_Yr_Bond	3.115	▼	-0.02	▼	-0.64%	

NYSE Volume	 3,663,341,000 			 		 	
Nasdaq Volume	 1,807,536,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,777.11	▲	28.39	▲	0.49%	
	DAX_____	6,801.32	▲	61.42	▲	0.91%	
	CAC_40__	3,266.27	▲	36.95	▲	1.14%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,433.40	▼	-11.60	▼	-0.26%	
	Shanghai_Comp	2,396.32	▼	-8.38	▼	-0.35%	
	Taiwan_Weight	7,480.50	▼	-40.85	▼	-0.54%	
	Nikkei_225____	9,520.89	▼	-40.94	▼	-0.43%	
	Hang_Seng____	20,741.45	▲	53.93	▼	-0.33%	
	Strait_Times___	2,981.58	▲	0.11	▲	0.00%	
	NZX 50 Index__	3,531.66	▲	10.84	▲	0.31%	

http://news.yahoo.com/dow-regains-ground-lost-april-amazon-surges-210117526--business.html

*Dow regains ground it lost in April; Amazon surges

Dow Jones industrial average turns positive for April; Amazon surges on jump in shipments*

By Bernard Condon, AP Business Writer 

 It took a while, but the Dow Jones industrial average finally gained back all its losses for the month.

On a day of conflicting signals, as investors weighed disappointing economic news against reports of higher profits at big companies, stocks inched higher. All three major indexes were up Friday, though barely.

The Dow climbed 23.69 points to 13,228.31, a tiny 0.2 percent gain. That was enough to push the index into the black for April. It's now 16 points higher than where it began the month.

The Standard & Poor's 500 edged up 3.38 points, or 0.2 percent, to 1,403.36. The Nasdaq composite rose 18.59 points, or 0.6 percent, to 3,069.20.

Amazon jumped 16 percent after the online retailer reported a big increase in shipments. Online travel agency Expedia Inc. surged 24 percent on higher profits from its hotel-booking business.

Companies in the S&P 500 are now on track to report a 6 percent rise in earnings for the first three months of 2012 compared with a year ago, according to FactSet, a financial data provider. Last month, Wall Street analysts had expected earnings this quarter to be flat.

The stock gains Friday came despite a government report earlier in the day that the U.S. economy grew at annual rate of 2.2 percent, below the 2.5 percent that economist had expected. It grew at a faster rate, 3 percent, in the final three months of 2011.

David Rosenberg, chief economist at money manager Gluskin Sheff, said investors may have bid up stocks on the weaker report because they now think the Federal Reserve is more likely to embark on another round of bond buying to stimulate the economy.

"(Fed Chairman) Ben Bernanke has created the impression that if the economy stumbles, he'll be there to hold your hand," he said.

European stock markets also rose as investors shrugged off a second downgrade this year by S&P of Spain's debt. Spain also reported its unemployment rate rose to nearly 25 percent, its highest in 18 years.

Spain's IBEX rose 1.7 percent, France's CAC-40 1.1 percent and Germany's DAX 0.9 percent.

However the yields on Spanish and Italian government bonds rose, a sign that investors are still uneasy about the ability of those countries to service their debt. The yield on Spain's benchmark 10-year bond rose 0.08 percentage point to 5.87 percent. Italy's 10-year yield rose 0.11 point to 5.64 percent.

The Dow hit its high for the year on April 2. It fell fast soon after, then bounced around. With Friday's gain, the index is now just 36 points away from that level.

In corporate news, Procter & Gamble fell 4 percent after the consumer products giant reported a 16 percent profit slump for the first three months of the year on higher costs for raw materials and restructuring charges. The maker of Bounty paper towels and Luv diapers said it would be rolling back price increases on some products where it was losing market share. It also lowered earnings forecasts for the year.

Starbucks slid 5 percent after the coffee company reported a slowdown of sales in Europe.

For the week, the Dow is up 1.5 percent, the S&P 500 is up 1.8 percent and the Nasdaq is up 2.3 percent.

5365


----------



## bigdog

Source: http://finance.yahoo.com 

The Dow Jones industrial average edged down 14.68 points to close at 13,213.63, but narrowly avoided its first monthly loss since September. The Dow finished April up less than two points.

The Nasdaq composite fell 22.84 points to 3,046.36. It posted a monthly loss of 1.5 percent.

News that Spain had entered another recession renewed worries about the fragility of Europe's finances Monday and nudged stocks lower. The market ended its first losing month this year.

Disappointing economic reports and weak corporate earnings also weighed on stocks. The Standard & Poor's 500 index slipped 5.45 points to close at 1,397.91. For April, it was down 0.8 percent, its first month in the red since November.

The Spanish government said that the country's economy shrank in the first three months of the year, the second straight quarter of contraction.

The worry is that Spain's economy could be too big to rescue. It's twice as big as the combined economies of Greece, Portugal and Ireland, the three countries that have received bailout loans.

In the U.S., a drop in an index of Midwestern manufacturing and a slowdown in consumer spending last month added to worries that the economy is losing steam.

The Institute for Supply Management said its Chicago business barometer fell in April to the lowest level in more than two years. After weak readings for the New York and Philadelphia regions, the market reaction to the Chicago report could have been much worse, said Clark Yingst, chief market analyst at the brokerage Joseph Gunnar.

 *The NYSE DOW closed  	LOWER ▼	-14.68	points or ▼	-0.11%	Monday, 30 April 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,213.63	▼	-14.68	▼	-0.11%	
	Nasdaq___	3,046.36	▼	-22.84	▼	-0.74%	
	S&P_500__	1,397.91	▼	-5.45	▼	-0.39%	
	30_Yr_Bond	3.109	▼	-0.01	▼	-0.19%	

NYSE Volume	 3,574,017,750 			 		 	
Nasdaq Volume	 1,645,181,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,737.78	▼	-10.94	▼	-0.19%	
	DAX_____	6,761.19	▼	-40.13	▼	-0.59%	
	CAC_40__	3,212.80	▼	-53.47	▼	-1.64%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,467.20	▲	33.80	▲	0.76%	
	Shanghai_Comp	2,396.32	▼	-8.38	▼	-0.35%	
	Taiwan_Weight	7,501.72	▲	21.22	▲	0.28%	
	Nikkei_225____	9,520.89	▼	-40.94	▼	-0.43%	
	Hang_Seng____	21,094.21	▲	53.93	▲	1.70%	
	Strait_Times___	2,978.57	▼	-3.01	▼	-0.10%	
	NZX 50 Index__	3,555.87	▲	24.22	▲	0.69%	

http://news.yahoo.com/dow-p-500-slip-spain-enters-recession-155558212--business.html

*Dow, S&P 500 slip as Spain enters recession*
By MATTHEW CRAFT 

News that Spain had entered another recession renewed worries about the fragility of Europe's finances Monday and nudged stocks lower. The market ended its first losing month this year.

Disappointing economic reports and weak corporate earnings also weighed on stocks. The Standard & Poor's 500 index slipped 5.45 points to close at 1,397.91. For April, it was down 0.8 percent, its first month in the red since November.

The Spanish government said that the country's economy shrank in the first three months of the year, the second straight quarter of contraction.

The worry is that Spain's economy could be too big to rescue. It's twice as big as the combined economies of Greece, Portugal and Ireland, the three countries that have received bailout loans.

In the U.S., a drop in an index of Midwestern manufacturing and a slowdown in consumer spending last month added to worries that the economy is losing steam.

The Institute for Supply Management said its Chicago business barometer fell in April to the lowest level in more than two years. After weak readings for the New York and Philadelphia regions, the market reaction to the Chicago report could have been much worse, said Clark Yingst, chief market analyst at the brokerage Joseph Gunnar.

"It's very bad news in my opinion," Yingst said. "I'd have thought the market would come under more pressure than it has."

Weaker earnings reports from health insurer Humana and the owner of the New York Stock Exchange, NYSE Euronext, also hurt stock indexes.

The Dow Jones industrial average edged down 14.68 points to close at 13,213.63, but narrowly avoided its first monthly loss since September. The Dow finished April up less than two points.

The Nasdaq composite fell 22.84 points to 3,046.36. It posted a monthly loss of 1.5 percent.

Growing concerns about Spain knocked European markets lower on Monday. Spain's main stock index, the IBEX 35, sank 1.9 percent. France's CAC-40 lost 1.6 percent.

The dollar and U.S. Treasury prices edged up as investors parked money in low-risk assets.

Ratings agency Standard & Poor's downgraded Spain's government debt to just three notches above junk Friday. On Monday S&P lowered its rating for 11 Spanish banks, which are loaded with bad debt from a collapsed housing market.

Among stocks making big moves:

”” Barnes & Noble jumped 52 percent after Microsoft announced that it would invest $300 million to help Barnes & Noble compete with Amazon.com. The companies will create a subsidiary for Barnes & Noble's e-book and college textbook businesses. Microsoft also plans an application for Nook, Barnes & Noble's e-reader, on its Windows 8 tablets, which come out this fall. Microsoft's stock was flat.

”” Health insurer Humana fell 8 percent to after reporting a large drop in first-quarter profit as the company paid more in claims. The results fell short of Wall Street's expectations.

”” NYSE Euronext, owner of the New York Stock Exchange, lost 5 percent after reporting that its income plunged in the first three months of the year. Revenue from its trading business was weak, and the company abandoned a merger with the European exchange operator Deutsche Boerse.

”” Sunoco jumped 20 percent, the most of any stock in the S&P 500. The fuel-refining company agreed to be bought by Energy Transfer Partners, an operator of natural gas pipelines, for $5.3 billion.


----------



## bigdog

Source: http://finance.yahoo.com 

The fastest growth in U.S. manufacturing in 10 months gave stocks a lift Tuesday and pushed the Dow Jones industrial average to its highest close in more than four years.

Manufacturing expanded last month at the strongest pace since June, according to the Institute for Supply Management. Orders, hiring and production all rose.

A measure of manufacturing employment also reached a nine-month high, a hopeful sign ahead of Friday's monthly jobs report.

The manufacturing news jolted stock indexes out of a morning stupor, although the gains waned throughout the afternoon. The Dow added 65.69 points to 13,279.32, its highest closing mark since Dec. 28, 2007, during the first month of the Great Recession.

"It definitely changed the direction of markets," said Jack Ablin, chief investment officer at Harris Private Bank.

Treasury prices fell, and benchmark crude oil rose $1.29 to settle at $106.16 per barrel. Both of those things tend to happen when investors expect stronger economic growth.

Ablin saw an irony in the reaction to the ISM report. Europe's debt crisis has knocked markets around for months, jerking stocks down on worries its troubles could cross the Atlantic. But Europe's woes have made U.S. manufacturers look more attractive to companies, Ablin said.

 *The NYSE DOW closed  	HIGHER ▲	65.69	points or ▲	0.50%	Tuesday, 1 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,279.32	▲	65.69	▲	0.50%	
	Nasdaq___	3,050.44	▲	4.08	▲	0.13%	
	S&P_500__	1,405.82	▲	7.91	▲	0.57%	
	30_Yr_Bond	3.161	▲	0.05	▲	1.67%	

NYSE Volume	 3,807,950,750 			 		 	
Nasdaq Volume	 1,876,061,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,812.23	▲	74.45	▲	1.30%	
	DAX_____	6,761.19	▼	-40.13	▼	-0.59%	
	CAC_40__	3,212.80	▼	-53.47	▼	-1.64%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,497.30	▲	30.10	▲	0.67%	
	Shanghai_Comp	2,396.32	▼	-8.38	▼	-0.35%	
	Taiwan_Weight	7,501.72	▲	21.22	▲	0.28%	
	Nikkei_225____	9,350.95	▼	-169.94	▼	-1.78%	
	Hang_Seng____	21,094.21	▲	53.93	▲	1.70%	
	Strait_Times___	2,978.57	▼	-3.01	▼	-0.10%	
	NZX 50 Index__	3,577.32	▲	21.45	▲	0.60%	

http://news.yahoo.com/dow-jones-average-hits-highest-mark-since-07-201529478--business.html

Dow Jones average hits highest mark since '07
By MATTHEW CRAFT | Associated Press 

The fastest growth in U.S. manufacturing in 10 months gave stocks a lift Tuesday and pushed the Dow Jones industrial average to its highest close in more than four years.

Manufacturing expanded last month at the strongest pace since June, according to the Institute for Supply Management. Orders, hiring and production all rose.

A measure of manufacturing employment also reached a nine-month high, a hopeful sign ahead of Friday's monthly jobs report.

The manufacturing news jolted stock indexes out of a morning stupor, although the gains waned throughout the afternoon. The Dow added 65.69 points to 13,279.32, its highest closing mark since Dec. 28, 2007, during the first month of the Great Recession.

"It definitely changed the direction of markets," said Jack Ablin, chief investment officer at Harris Private Bank.

Treasury prices fell, and benchmark crude oil rose $1.29 to settle at $106.16 per barrel. Both of those things tend to happen when investors expect stronger economic growth.

Ablin saw an irony in the reaction to the ISM report. Europe's debt crisis has knocked markets around for months, jerking stocks down on worries its troubles could cross the Atlantic. But Europe's woes have made U.S. manufacturers look more attractive to companies, Ablin said.

"It's gotten to a point over last 10 years where it's better to manufacture here than in pretty much any other developed country in the world," he said.

In a separate report Tuesday, the Commerce Department said construction spending ticked up in March, following two months of declines.

Sam Stovall, chief equity strategist at S&P Capital IQ, said the two reports looked like evidence that the U.S. economic recovery is solid despite turmoil in Europe and weaker job creation in March.

"I think investors are encouraged there's at least one place in the world where it's still worth investing," Stovall said. "They're not ready to give up on this bull market yet."

Other indexes pushed higher. The Standard & Poor's 500 index rose eight points to 1,406. The Nasdaq composite climbed four points to 3,050.

All 10 industry groups within the S&P 500 climbed, led by energy companies. Chesapeake Energy Corp. jumped 6 percent on reports that the company will strip CEO Aubrey McClendon of his chairman's title.

McClendon, Chesapeake's founder, was under fire for taking out more than $1 billion in loans using the company's wells as collateral. Chesapeake recently agreed to end the program that allowed McClendon to take personal stakes in the wells.

The S&P finished April in the red, its first losing month since November. The Dow managed a tiny gain.

Judging by its track record, May isn't a promising month for stocks. Since World War II, the S&P 500 has gained an average of 0.31 percent in May. For all months, the average gain is 0.67 percent.

"It's a very undistinguished month," Stovall said.

Among stocks making big moves:

”” Sears Holdings Corp. soared 15 percent, the biggest gain in the S&P 500. The operator of Kmart and Sears stores expects to post a first-quarter profit thanks to a gain from the sale of some U.S. and Canadian stores. The company's stock has jumped 99 percent so far this year.

”” Archer Daniels Midland Co. gained 7 percent after the food conglomerate reported profits that beat analysts' expectations. Profits dropped by nearly a third over the past year, pulled down by one-time charges and lower weaker results from its ethanol and oilseeds businesses.

”” Avon Products Inc. fell 8 percent, the largest drop in the S&P. The company said earnings plunged 82 percent, hurt by a bigger restructuring charge, commodity costs and rising labor costs. The results were worse than analysts had expected.


----------



## bigdog

Source: http://finance.yahoo.com 

When jobs fall, the stock market follows. 

That was the message investors sent Wednesday, when they ignored a few flashes of positive news about the economy and instead homed in on troubling reports about jobs in the U.S. and Europe. 

The Dow Jones industrial average fell as much as 87 points before ending the day down 10.75 points, at 13,268.57. It was an about-turn from the day before, when investors chose to focus on a couple of positive reports on U.S. manufacturing and sent the Dow up 66 points to its highest close in more than four years. 

While the market's day-to-day fluctuations may be difficult to predict, some investors say they're certain that stocks will continue an overall climb for the rest of the year. As justification, they cite strong first-quarter earnings. More than 330 companies on the S&P 500 have reported first-quarter earnings so far, and 77 percent have beaten analysts' estimates, according to John Butters, senior earnings analyst at FactSet. 

"The market has room to run," said Karyn Cavanaugh, market strategist with ING Investment Management in New York. "It doesn't always go up in a straight line." 

The Standard & Poor's 500 fell 3.51 points to 1,402.31. The Nasdaq composite index was the outlier. It fell throughout the morning, then finished up 9.41 points at 3,059.85. 

 *The NYSE DOW closed  	LOWER ▼	-10.75	points or ▼	-0.08%	Wednesday, 2 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,268.57	▼	-10.75	▼	-0.08%	
	Nasdaq___	3,059.85	▲	9.41	▲	0.31%	
	S&P_500__	1,402.31	▼	-3.51	▼	-0.25%	
	30_Yr_Bond	3.114	▼	-0.05	▼	-1.49%	

NYSE Volume	 3,784,073,500 			 		 	
Nasdaq Volume	 1,832,346,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	FTSE 100	▲	5758.11	▼	-5412.00%	
	DAX_____	DAX	▲	6710.77	▼	-5042.00%	
	CAC_40__	CAC 40	▲	3226.33	▲	1353.00%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,504.80	▲	7.50	▲	0.17%	
	Shanghai_Comp	2,438.44	▲	42.12	▲	1.76%	
	Taiwan_Weight	7,676.81	▲	175.09	▲	2.33%	
	Nikkei_225____	9,380.25	▲	29.30	▲	0.31%	
	Hang_Seng____	21,309.08	▲	53.93	▲	1.02%	
	Strait_Times___	3,006.14	▲	27.57	▲	0.93%	
	NZX 50 Index__	3,614.97	▲	37.65	▲	1.05%	

http://finance.yahoo.com/news/bad-news-jobs-spooks-markets-134227448.html

*Bad news about jobs spooks markets

US stocks end mixed on discouraging signs about jobs in US, Europe*

By Christina Rexrode, AP Business Writer

When jobs fall, the stock market follows. 

That was the message investors sent Wednesday, when they ignored a few flashes of positive news about the economy and instead homed in on troubling reports about jobs in the U.S. and Europe. 

The Dow Jones industrial average fell as much as 87 points before ending the day down 10.75 points, at 13,268.57. It was an about-turn from the day before, when investors chose to focus on a couple of positive reports on U.S. manufacturing and sent the Dow up 66 points to its highest close in more than four years. 

While the market's day-to-day fluctuations may be difficult to predict, some investors say they're certain that stocks will continue an overall climb for the rest of the year. As justification, they cite strong first-quarter earnings. More than 330 companies on the S&P 500 have reported first-quarter earnings so far, and 77 percent have beaten analysts' estimates, according to John Butters, senior earnings analyst at FactSet. 

"The market has room to run," said Karyn Cavanaugh, market strategist with ING Investment Management in New York. "It doesn't always go up in a straight line." 

The Standard & Poor's 500 fell 3.51 points to 1,402.31. The Nasdaq composite index was the outlier. It fell throughout the morning, then finished up 9.41 points at 3,059.85. 

A monthly report on private sector hiring was weighing heavily on the minds of investors, who see jobs as the key ingredient to an economic recovery. 

Payroll processor ADP said that U.S. businesses added 119,000 jobs in April, far fewer than the 201,000 added in March. However, investors will probably wait until Friday, when the government releases its own data on April jobs, before drawing any firm conclusions about the month. The ADP number covers only private-sector hiring and can vary sharply from the government's number. 

Another jobs report from Europe underscored the gravity of the continuing debt crisis there. The 17 countries that use the euro reported that unemployment rose to 10.9 percent in March, the highest since the euro launched in 1999. 

Markets fell across most of Europe, including Germany and Greece. 

There was also good news out of Europe, even if it didn't seem to sway investors. Standard & Poor's lifted Greece's credit rating out of default, noting how the company had recently secured a massive writedown on its debt to private investors. Germany also reported that the number of people seeking work in April slipped below 3 million, a psychologically important barrier that it hasn't broken in that month for two decades. 

Todd Salamone, director of research for Schaeffer's Investment Research in Cincinnati, downplayed concerns about Europe. Investors have had a long time to digest any bad news and shouldn't be too shaken by daily developments, even if the headlines seem panicky, he said. 

"U.S. stocks have become more resilient, especially to the European headlines," Salamone said. "Any negative news out of Europe is not a major surprise like it was early last year." 

In U.S. stocks, one of the biggest losses came at Chesapeake Energy, which plunged 15 percent. The company had reported a first-quarter loss after the market closed Tuesday. It's also under fire for a massive pay package to CEO Aubrey McClendon and questions about his taking out big loans from companies that do business with Chesapeake. This week, the company stripped McClendon of his role as board chairman. 

In an earnings call Wednesday, McClendon said he was "deeply sorry for all the distractions" but also said there was "a great deal of misinformation" circulating about himself and the company. 

Ascena Retail Group shot up more than 10 percent after announcing it plans to buy rival Charming Shoppes. Ascena runs dressbarn, maurices and Justice, which are clothing chains for women and girls. The purchase will add Lane Bryant, Catherines and Fashion Bug to its portfolio. 

Energizer Holdings, parent of the eponymous batteries, popped more than 9 percent after reporting higher revenue and earnings. The company said that sales of Schick razors helped results.


----------



## bigdog

Source: http://finance.yahoo.com 

US stocks dip as weak retail sales, Europe blues overshadow hopes for labor market recovery

Wall Street gnawed on a muddle of economic data and corporate earnings news Thursday, then sent stock indexes lower for a second day. 

Disappointing April sales results from big retailers set the bleak tone early on. Costco, Macy's and Target, among others, reported sales that were weaker than analysts had predicted. Colder weather and renewed concerns about the economy weighed on shoppers. 

GM shares fell 2.4 percent after the automaker said its first-quarter profit declined, mainly because of weakness in Europe. 

Fears of a global financial freeze-up caused by the European debt crisis have receded, but many now worry that Europe's recession will hurt sales by American exporters such as GM and Caterpillar. Caterpillar lost 1.9 percent. 

European stocks closed mostly lower, giving up earlier gains, after signs that European Central Bank will not inject more cash into the region's fragile banking system. 

Trading of U.S. stocks was uneven because investors were "balancing between a weak close for European stocks and trying to bet on what (the monthly jobs report) will look like," said Peter Tchir, who runs the hedge fund TF Market Advisors. 

The labor market has been on traders' minds all week because the government's monthly jobs report is due out Friday. The final major indicator before that announcement was positive: The number of people applying for unemployment benefits fell last week by the most in three months.	

 *The NYSE DOW closed  	LOWER ▼	-61.98	points or ▼	-0.47%	Thursday, 3 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,206.59	▼	-61.98	▼	-0.47%	
	Nasdaq___	3,024.30	▼	-35.55	▼	-1.16%	
	S&P_500__	1,391.57	▼	-10.74	▼	-0.77%	
	30_Yr_Bond	3.112	▼	0.00	▼	-0.06%	

NYSE Volume	 4,004,916,000 			 		 	
Nasdaq Volume	 1,864,509,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,766.55	▲	8.44	▲	0.15%	
	DAX_____	6,694.44	▼	-16.33	▼	-0.24%	
	CAC_40__	3,223.36	▼	-2.97	▼	-0.09%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,494.50	▼	-10.30	▼	-0.23%	
	Shanghai_Comp	2,440.08	▲	1.64	▲	0.07%	
	Taiwan_Weight	7,659.53	▼	-17.28	▼	-0.23%	
	Nikkei_225____	9,380.25	▲	29.30	▲	0.31%	
	Hang_Seng____	21,249.53	▲	53.93	▼	-0.28%	
	Strait_Times___	3,000.94	▼	-5.20	▼	-0.17%	
	NZX 50 Index__	3,576.70	▼	-38.27	▼	-1.06%	

http://finance.yahoo.com/news/us-stocks-fall-conflicting-economic-201011431.html

*US stocks fall after conflicting economic reports

US stocks dip as weak retail sales, Europe blues overshadow hopes for labor market recovery*

By Daniel Wagner, AP Business Writer

Wall Street gnawed on a muddle of economic data and corporate earnings news Thursday, then sent stock indexes lower for a second day. 

Disappointing April sales results from big retailers set the bleak tone early on. Costco, Macy's and Target, among others, reported sales that were weaker than analysts had predicted. Colder weather and renewed concerns about the economy weighed on shoppers. 

GM shares fell 2.4 percent after the automaker said its first-quarter profit declined, mainly because of weakness in Europe. 

Fears of a global financial freeze-up caused by the European debt crisis have receded, but many now worry that Europe's recession will hurt sales by American exporters such as GM and Caterpillar. Caterpillar lost 1.9 percent. 

European stocks closed mostly lower, giving up earlier gains, after signs that European Central Bank will not inject more cash into the region's fragile banking system. 

Trading of U.S. stocks was uneven because investors were "balancing between a weak close for European stocks and trying to bet on what (the monthly jobs report) will look like," said Peter Tchir, who runs the hedge fund TF Market Advisors. 

The labor market has been on traders' minds all week because the government's monthly jobs report is due out Friday. The final major indicator before that announcement was positive: The number of people applying for unemployment benefits fell last week by the most in three months. 

The conflicting economic indicators offered little direction for major U.S. stock indexes. They opened down, rose slightly in the first 15 minutes of trading then turned lower. Eight of the 10 industry groups in the Standard & Poor's 500 index fell. Two rose, but barely. 

The Dow Jones industrial average fell 61.98 points, or 0.5 percent, to 13,206.59. The S&P 500 dropped 10.74, or 0.8 percent, to 1,391.57. The Nasdaq composite average slid 35.55, or 1.2 percent, to 3,024.30 

The Carlyle Group, a big, politically-connected private equity firm, edged higher after an initial public offering that raised $671 million. The company had priced its stock below the expected range late Wednesday. Carlyle, trading on the Nasdaq under the ticker "CG," has about $147 billion in assets under management. 

Other swinging stocks: 

”” Green Mountain Coffee Roasters Inc. plunged 47.8 percent. The maker of single-cup coffee machines and cartridges said late Wednesday that its earnings for the fiscal year ending in September will be far below its previous forecast and analysts' estimates. Green Mountain shares have lost more than three-fourths of their value since September. 

”” Cablevision Systems Corp. dropped 7.9 percent after its first-quarter revenue fell short of analysts' expectations and profit declined sharply. 

”” Viacom Inc., owner of MTV and Paramount Pictures, rose 3.4 percent after saying its net income rose sharply as its TV networks brought in more revenue. 

”” Orbitz Worldwide Inc. rose 4.4 percent after narrowing its first-quarter loss and beating analysts' estimates.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks plunge after US hiring slows in April; Worst week this year for S&P and Nasdaq

Stocks plunged Friday after the government reported that hiring slowed sharply last month. The report confirmed investors' fears that the U.S. economic recovery is faltering. 

The losses in the market were widespread. The Dow Jones industrial average lost 168 points and the Nasdaq composite had its worst day since Nov. 9. Both the Nasdaq and the Standard & Poor's 500 index closed out their worst weeks of the year. The Dow had its second-worst. 

The dollar and U.S. Treasury prices rose as investors dumped risky assets and moved money into lower-risk investments. Energy stocks were among the hardest hit after the price of oil fell sharply and settled below $100 a barrel for the first time since February. Only one of the 10 industry groups in the S&P 500 rose, utilities, which investors tend to buy when they're nervous about the economy. 

"The jobs numbers were a disappointment," said Phil Orlando, chief equity strategist at Federated Investors. He noted that there were several factors distorting the month's figures including unusually warm weather in the first three months of the year and an early Easter. 

It was the third straight daily loss for the Dow, but it seemed too early to declare that the stock market's overall trend was turning downward. The Dow is still up 6.7 percent this year, the S&P 500 8.9 percent. 

That said, investors are on edge about Europe once again as France and Greece both hold elections over the weekend. In France the socialist candidate Francois Hollande has a chance to unseat the incumbent Nicolas Sarkozy, who has been at the forefront of fashioning Europe's efforts to prevent its share currency from collapsing. 

Crude oil plunged $4 to $98.49 a barrel on worries that demand would drop because of a weakening world economy. It was the first time oil has dropped below $100 since February 13.

 *The NYSE DOW closed  	LOWER ▼	-168.32	points or ▼	-1.27%	Friday, 4 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,038.27	▼	-168.32	▼	-1.27%	
	Nasdaq___	2,956.34	▼	-67.96	▼	-2.25%	
	S&P_500__	1,369.10	▼	-22.47	▼	-1.61%	
	30_Yr_Bond	3.071	▼	-0.04	▼	-1.32%	

NYSE Volume	 3,975,136,500 			 		 	
Nasdaq Volume	 1,947,573,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,655.06	▼	-111.49	▼	-1.93%	
	DAX_____	6,561.47	▼	-132.97	▼	-1.99%	
	CAC_40__	3,161.97	▼	-61.39	▼	-1.90%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,459.40	▼	-35.10	▼	-0.78%	
	Shanghai_Comp	2,452.01	▲	11.93	▲	0.49%	
	Taiwan_Weight	7,700.95	▲	41.42	▲	0.54%	
	Nikkei_225____	9,380.25	▲	29.30	▲	0.31%	
	Hang_Seng____	21,086.00	▲	53.93	▼	-0.77%	
	Strait_Times___	2,990.59	▼	-10.35	▼	-0.34%	
	NZX 50 Index__	3,549.78	▼	-26.93	▼	-0.75%	

http://finance.yahoo.com/news/hiring-slowdown-sends-stock-market-211102539.html

*Hiring slowdown sends the stock market reeling

Stocks plunge after US hiring slows in April; Worst week this year for S&P and Nasdaq*

By Pallavi Gogoi, AP Business Writer

Stocks plunged Friday after the government reported that hiring slowed sharply last month. The report confirmed investors' fears that the U.S. economic recovery is faltering. 

The losses in the market were widespread. The Dow Jones industrial average lost 168 points and the Nasdaq composite had its worst day since Nov. 9. Both the Nasdaq and the Standard & Poor's 500 index closed out their worst weeks of the year. The Dow had its second-worst. 

The dollar and U.S. Treasury prices rose as investors dumped risky assets and moved money into lower-risk investments. Energy stocks were among the hardest hit after the price of oil fell sharply and settled below $100 a barrel for the first time since February. Only one of the 10 industry groups in the S&P 500 rose, utilities, which investors tend to buy when they're nervous about the economy. 

"The jobs numbers were a disappointment," said Phil Orlando, chief equity strategist at Federated Investors. He noted that there were several factors distorting the month's figures including unusually warm weather in the first three months of the year and an early Easter. 

It was the third straight daily loss for the Dow, but it seemed too early to declare that the stock market's overall trend was turning downward. The Dow is still up 6.7 percent this year, the S&P 500 8.9 percent. 

That said, investors are on edge about Europe once again as France and Greece both hold elections over the weekend. In France the socialist candidate Francois Hollande has a chance to unseat the incumbent Nicolas Sarkozy, who has been at the forefront of fashioning Europe's efforts to prevent its share currency from collapsing. 

Crude oil plunged $4 to $98.49 a barrel on worries that demand would drop because of a weakening world economy. It was the first time oil has dropped below $100 since February 13. 

The late slump in the week was a stark contrast to Monday, when the Dow closed at its highest level more than four years, propelled by a report that showed a pickup in manufacturing. All that become a distant memory after a slew of poor economic reports were released in the rest of the week. 

On Thursday major retailers including Costco and Macy's reported that April sales inched up less that 1 percent, the worst performance since 2009. Thursday also brought news that U.S. service companies expanded their business more slowly in April. 

The Dow closed down 168.32 points, or 1.3 percent, at 13,038. All 30 companies that make up the index fell, led by Bank of America and Cisco. 

The S&P 500 slipped 22.47 points, or 1.6 percent, to 1,369, while the Nasdaq index fell 67.96 points, or 2.2 percent, to 2,956. 

For the week, the Dow fell 190 points, S&P fell 34, while Nasdaq declined 113 points. 

The yield on the benchmark 10-year Treasury note dropped sharply to 1.88 percent from 1.92 percent late Thursday as demand increased for safe investments. The yield hasn't settled that low since early February. 

The culprit for the distress in financial markets was a report from the Labor Department Friday showing that U.S. job growth slumped in April for a second straight month. The 115,000 jobs added were fewer than the 154,000 jobs created in March. 

Job creation is the fuel for the nation's economic growth. When more people have jobs, they have more money to spend. 

Orlando noted that the first few months of the year were marked by a number of abnormal conditions including an uncharacteristically warm January and February. That led to a spurt in hiring which usually occurs in spring. 

Retail sales and hiring were also affected by an earlier Easter, which fell on April 8 this year, 16 days earlier than last year. That pushed some retail sales ahead to March, leaving April's numbers weaker than they might have been. Retailers also blamed a late Mother's Day for pushing some sales out of April and into May. Unusually warm weather in February and March also pulled forward some sales that would have normally occurred in April. 

"The surge in hiring and spending that usually occurs in March through April, occurred earlier in the year this year," said Orlando. "We have to wait for economic numbers from May and June to get a better idea of the underlying strength of this economy." 

After the price of oil fell, energy company stocks turned lower in response. Southwestern Energy Co. fell 7 percent and Marathon Oil Corp. fell 3 percent. 

In other trading: 

— Warnaco Group Inc. dropped over 6 percent after the clothing maker lowered its 2012 forecast and said that its first-quarter net income fell, hurt by the weak European economy. 

— Aon Corp. fell almost 6 percent after the insurance broker reported first-quarter net income fell 3 percent due to higher costs and unfavorable currency exchange rates. 

— LinkedIn Corp. rose 7 percent after announcing late Thursday that its first-quarter profit more than doubled, topping expectations. The social networking company also announced an acquisition. 

— Tilly's Inc. climbed 8 percent in the clothing retailer's debut on the New York Stock Exchange. Tilly's sells surf-inspired and casual West Coast-styled clothing and accessories. 

— Einstein Noah Restaurant Group Inc. soared 19 percent after the owner of bagel chain Noah's Bagels said it is considering strategic alternatives, including a possible sale of the company

5965


----------



## bigdog

Source: http://finance.yahoo.com 

Stock markets recovered around the world following an early stumble caused by election results in France and Greece that appeared to jeopardize Europe's plans for fighting its debt crisis. 

Greek voters over the weekend punished mainstream politicians who had backed cost-cutting plans demanded by the country's international lenders, leaving the country without clear leadership. In France President Nicolas Sarkozy was thrown out in favor of Socialist Francois Hollande, who pledged "to finish with austerity." 

Investors on Monday worried that the shifting political landscape in Europe could undermine the region's long battle to keep its shared currency intact and restore the faith of global investors. European markets slumped early on, but closed higher after worries about the political changes dissipated and investors focused on Hollande's pledges to encourage economic growth. 

Investors were also relieved after Spain announced a plan to present measures this week to support the country's ailing banks. Prime Minister Mariano Rajoy said he would not rule out lending or injecting public money into the country's financial system. 

Stocks rose sharply in Spain, ending up 2.7 percent. France's main index gained 1.7 percent. The euro also recovered ground it lost against the dollar. 

In the U.S., the Dow Jones industrial average fell as much as 68 points in early trading, but recouped its losses and even gained 10 points by the afternoon. The Dow finished the day down 29.74 points, or 0.2 percent, at 13,008.53. 

The Standard & Poor's 500 also started the day lower but ended up 0.48 points at 1,369.58. The Nasdaq composite index rose 1.4 points to 2,957.76. 

 *The NYSE DOW closed  	LOWER ▼	-29.74	points or ▼	-0.23%	Monday, 7 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,008.53	▼	-29.74	▼	-0.23%	
	Nasdaq___	2,957.76	▲	1.42	▲	0.05%	
	S&P_500__	1,369.58	▲	0.48	▲	0.04%	
	30_Yr_Bond	3.067	▼	0.00	▼	-0.13%	

NYSE Volume	 3,565,527,500 			 		 	
Nasdaq Volume	 1,751,718,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,655.06	▼	-111.49	▼	-1.93%	
	DAX_____	6,569.48	▲	8.01	▲	0.12%	
	CAC_40__	3,214.22	▲	52.25	▲	1.65%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,459.40	▼	-35.10	▼	-0.78%	
	Shanghai_Comp	2,452.01	▲	11.93	▲	0.49%	
	Taiwan_Weight	7,700.95	▲	41.42	▲	0.54%	
	Nikkei_225____	9,119.14	▼	-261.11	▼	-2.78%	
	Hang_Seng____	20,536.65	▲	53.93	▼	-2.61%	
	Strait_Times___	2,924.95	▼	-65.64	▼	-2.19%	
	NZX 50 Index__	3,540.13	▼	-9.65	▼	-0.27%	

http://finance.yahoo.com/news/marke...05ODg0LTExZTEtYmI3ZS02Mzg1NDM4MjlkMDM-;_ylv=3

*Markets recover from stumble over Europe elections

Markets stumble, then recover following expulsion of incumbents in French and Greek elections*

By Pallavi Gogoi, AP Business Writer

NEW YORK (AP) -- Stock markets recovered around the world following an early stumble caused by election results in France and Greece that appeared to jeopardize Europe's plans for fighting its debt crisis. 

Greek voters over the weekend punished mainstream politicians who had backed cost-cutting plans demanded by the country's international lenders, leaving the country without clear leadership. In France President Nicolas Sarkozy was thrown out in favor of Socialist Francois Hollande, who pledged "to finish with austerity." 

Investors on Monday worried that the shifting political landscape in Europe could undermine the region's long battle to keep its shared currency intact and restore the faith of global investors. European markets slumped early on, but closed higher after worries about the political changes dissipated and investors focused on Hollande's pledges to encourage economic growth. 

Investors were also relieved after Spain announced a plan to present measures this week to support the country's ailing banks. Prime Minister Mariano Rajoy said he would not rule out lending or injecting public money into the country's financial system. 

Stocks rose sharply in Spain, ending up 2.7 percent. France's main index gained 1.7 percent. The euro also recovered ground it lost against the dollar. 

In the U.S., the Dow Jones industrial average fell as much as 68 points in early trading, but recouped its losses and even gained 10 points by the afternoon. The Dow finished the day down 29.74 points, or 0.2 percent, at 13,008.53. 

The Standard & Poor's 500 also started the day lower but ended up 0.48 points at 1,369.58. The Nasdaq composite index rose 1.4 points to 2,957.76. 

The election results in Europe showed that voters were rejecting the extreme belt-tightening required by international bailouts and favored by Germany's leadership. 

Investors are waiting hear the newly-elected leaders articulate their visions for how to deal with the euro zone's debt crisis, which is why there is a muted reaction from stock markets, according Kim Caughey-Forrest, equity research analyst at investment firm Fox Pitt Capital Group. 

"There is no reason to cry until you get hurt," said Caughey-Forrest. 

The verdict from European voters will likely force leaders there to go back to the table and come up with more acceptable solutions to the debt crisis that has plagued many nations. The deep cuts in government spending have already worsened the situation in many countries, leading them into deeper economic distress and increasing already high unemployment. 

Many believe the austerity programs are necessary to keep bond investors from panicking about the possibility that more European nations will default or require bailouts. 

However, a growing number of politicians, like France's Hollande, say the cuts have been too much, too fast. They say the region's economy can't return to growth unless governments stop tightening the fiscal noose and start spending again to create demand. Some economists also now believe that the cuts have to be accompanied by some government economic stimulus to promote growth. 

"We are going to hear a more balanced prescription coming out of the European leadership," said Quincy Krosby, a market strategist at insurer Prudential Financial. "The elections were a strong message for pro-austerity leaders from the people." 

Initially, traders also bought up ultra-safe Treasurys overnight when stock markets in Europe were falling. That pushed the yield on the 10-year note as low as 1.83 percent early Monday morning, a level it hadn't reached since early February. However, the yield rebounded to 1.88 percent in late trading, the same level it was at late Friday. 

Earlier in Asia, Japan's Nikkei index plunged 2.8 percent to its lowest finish in three months. In addition to Europe's elections, it was also the first time for investors in Asia to react to a weak jobs report Friday in the U.S. Hong Kong's benchmark Hang Seng index slid 2.6 percent. 

Among U.S. stocks that made big moves: 

”” Disney rose 2 percent after its movie "The Avengers" pulled in $80.5 million in its domestic debut Friday, the second-best haul ever on opening day. The movie was made by Disney's Marvel Studios unit and is based on Marvel Comics heroes. 

”” Cognizant Technology Solutions plunged 19 percent after the information technology services provider lowered its forecast for the full year on low demand, echoing the bleak outlook from other rivals due to uncertainty in the global economy. 

”” Meat products maker Tyson Foods rose over 3 percent after reporting an increase in its second-quarter profit on higher beef and chicken prices. 

”” Frontier Communications fell 7 percent after the regional telecommunications provider said it was losing residential and business customers. The company had bought rural landlines from Verizon Communications two years ago, which led to several quarters of growth last year.


----------



## bigdog

Source: http://finance.yahoo.com 

Political uncertainty in debt-hobbled Europe spread to financial markets Tuesday and pushed stocks lower in Europe and the United States. 

The Dow Jones industrial average was down almost 200 points at its low point for the day before recovering most of its loss to finish down 76. It was the average's fifth straight decline. 

European indexes closed near their lowest levels in months, and the euro neared a five-month low against the dollar. 

Prices plummeted for commodities like oil and copper that depend on the health of the world economy. The turmoil in Europe added to concerns about slower economic growth in China and weaker job creation in the U.S. 

Trading throughout the markets is growing more volatile as Europe's debt crisis "accelerates to a point where it's not really controllable with the sorts of Band-Aids they've used," said Daniel Alpert, managing partner at the investment bank Westwood Capital Partners LLC. 

Greek voters on Sunday rejected parties that had imposed the deep spending cuts demanded by Greece's bailout lenders. Cuts to pensions and social programs are deepening Greece's crushing recession. 

On Tuesday, the left-wing politician struggling to form a new government declared that the country was no longer bound by its promises cut spending sharply in exchange for international bailout loans. 

The politician, Alexis Tsipras, also demanded a moratorium on repaying the part of Greece's debt that is "onerous." The main stock index in Greece closed down 3.6 percent after a 7 percent decline the day before. 

After a calm finish Monday, benchmark indexes in Germany and France plunged to near their lowest levels this year. Italy's was near its lowest since last November. The main stock index in Britain hit its lowest point this year. 

Central banks have injected billions into Europe's financial system, providing temporary support for stock and commodity prices, Alpert said. "If that liquidity is supposed to prime the pump, and the pump doesn't take over, then you've got a problem," he said. 

In the U.S., traders dumped risky assets and commodities, partly because of concern that a punishing recession in Europe would hurt economic demand. The price of oil continued its week-long slide. Copper and silver each lost more than 2 percent

 *The NYSE DOW closed  	LOWER ▼	-76.44	points or ▼	-0.59%	Tuesday, 8 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,932.09	▼	-76.44	▼	-0.59%	
	Nasdaq___	2,946.27	▼	-11.49	▼	-0.39%	
	S&P_500__	1,363.72	▼	-5.86	▼	-0.43%	
	30_Yr_Bond	3.023	▼	-0.04	▼	-1.43%	

NYSE Volume	 4,261,573,000 			 		 	
Nasdaq Volume	 2,185,715,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,554.55	▼	-100.51	▼	-1.78%	
	DAX_____	6,444.74	▼	-124.74	▼	-1.90%	
	CAC_40__	3,124.80	▼	-89.42	▼	-2.78%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,375.90	▲	14.30	▲	0.33%	
	Shanghai_Comp	2,448.88	▼	-3.06	▼	-0.12%	
	Taiwan_Weight	7,545.71	▲	7.63	▲	0.10%	
	Nikkei_225____	9,181.65	▲	62.51	▲	0.69%	
	Hang_Seng____	20,484.75	▲	53.93	▼	-0.25%	
	Strait_Times___	2,930.69	▲	5.74	▲	0.20%	
	NZX 50 Index__	3,552.06	▲	11.93	▲	0.34%	

http://finance.yahoo.com/news/turmo...05OTVhLTExZTEtYmYxZi1lMTM0ZjhmNjI3Mzk-;_ylv=3

*Turmoil in Europe pushes stocks lower in US

Post-election turmoil in Europe drives down stocks and commodities; Dow ends down 76*

By Daniel Wagner, AP Business Writer

Political uncertainty in debt-hobbled Europe spread to financial markets Tuesday and pushed stocks lower in Europe and the United States. 

The Dow Jones industrial average was down almost 200 points at its low point for the day before recovering most of its loss to finish down 76. It was the average's fifth straight decline. 

European indexes closed near their lowest levels in months, and the euro neared a five-month low against the dollar. 

Prices plummeted for commodities like oil and copper that depend on the health of the world economy. The turmoil in Europe added to concerns about slower economic growth in China and weaker job creation in the U.S. 

Trading throughout the markets is growing more volatile as Europe's debt crisis "accelerates to a point where it's not really controllable with the sorts of Band-Aids they've used," said Daniel Alpert, managing partner at the investment bank Westwood Capital Partners LLC. 

Greek voters on Sunday rejected parties that had imposed the deep spending cuts demanded by Greece's bailout lenders. Cuts to pensions and social programs are deepening Greece's crushing recession. 

On Tuesday, the left-wing politician struggling to form a new government declared that the country was no longer bound by its promises cut spending sharply in exchange for international bailout loans. 

The politician, Alexis Tsipras, also demanded a moratorium on repaying the part of Greece's debt that is "onerous." The main stock index in Greece closed down 3.6 percent after a 7 percent decline the day before. 

After a calm finish Monday, benchmark indexes in Germany and France plunged to near their lowest levels this year. Italy's was near its lowest since last November. The main stock index in Britain hit its lowest point this year. 

Central banks have injected billions into Europe's financial system, providing temporary support for stock and commodity prices, Alpert said. "If that liquidity is supposed to prime the pump, and the pump doesn't take over, then you've got a problem," he said. 

In the U.S., traders dumped risky assets and commodities, partly because of concern that a punishing recession in Europe would hurt economic demand. The price of oil continued its week-long slide. Copper and silver each lost more than 2 percent. 

Gold fell $34.60 to a four-month low of $1,604.50. It dipped below $1,600 for the first time since early January. Gold often serves as a safe, stable investment to hold in turbulent times. But in periods of rapid selling, investors sometimes sell gold as a ready source of cash. 

The stronger dollar contributed to the fall in commodity prices. Commodities are priced in dollars, so a stronger dollar makes them appear more expensive to traders who use other currencies. 

Money flowed into safe investments such as U.S. Treasurys, pushing the yield on the 10-year Treasury note down to 1.85 percent from 1.88 percent late Monday. 

A flurry of late-day buying helped the indexes recover from their earlier lows. The Dow closed down 76.44 points, or 0.6 percent, at 12,932.09. The Standard & Poor's 500 index fell 5.86 to 1,363.72. The Nasdaq composite index fell 11.49 to 2,946.27. The S&P had been down almost 22 points and the Nasdaq almost 58. 

Markets have been buffeted for three years by shifting perceptions about the gravity of the European debt crisis. At times, many feared a messy string of government defaults would set off a global credit crunch. 

Earlier this year, trading had turned relatively placid as policymakers rolled out a host of measures aimed at reassuring investors. 

To shore up the region's shaky banks, the European Central Bank injected billions of euros into the financial system. Governments in Italy and Greece fell last year, replaced by technocrats whom international leaders trusted to navigate the crisis. Leaders of indebted nations agreed to tighten their budgets. They slashed pensions and government jobs, raised retirement ages and eliminated social programs. 

The measures were aimed at soothing bond investors and preventing nations' borrowing costs from rising. By striking at voters' quality of life, they provoked angry political opposition to the plans. 

Opponents of strict austerity say Europe will be unable to emerge from its recession unless governments spend more to boost demand in the economy. 

On Sunday, in addition to the election in Greece, French voters elected a president who has spoken out against austerity and promised to cut France's debt load more slowly. 

Uncertainty about Europe's path forward is injecting volatility into global markets. As fears about Europe and the U.S. economy reemerged in recent weeks, traders have returned to frenzied buying and selling that recalls last year's record-breaking market swings. 

Among U.S. stocks making moves Tuesday: 

”” Burger chain Wendy's fell 4.1 percent after it cut its forecast and said its first-quarter profit missed Wall Street analysts' expectations. 

”” Watchmaker Fossil plunged 37.6 percent after saying weak sales in Europe caused its first-quarter revenue to fall far short of expectations. The company also lowered its 2012 earnings forecast. 

”” Casino operator Wynn Resorts reported a disappointing drop in first-quarter earnings, sending its stock down 4.8 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks fall as traders fret about Europe again; commodities dip on fears about global growth

Fear of European debt is once again playing havoc with Wall Street.

Stocks pitched down Wednesday in the United States as borrowing rates climbed for Spain and Italy, a sign that investors are losing confidence in those countries' finances.

Spain's 10-year borrowing rate leapt to 6.06 percent from 5.70 percent early Tuesday. Many fear that Spain, strangled by high unemployment and a real estate collapse, could be the next nation to require financial rescue.

The Dow Jones industrial average was down as much as 184 points before recovering about half of the loss. Still, the average has fallen for six consecutive days, its longest losing streak since last summer.

The Dow soared 2,624 points, or 25 percent, from Oct. 3 through May 1 as European leaders appeared to get a handle on the debt crisis. Last fall, nations that use the euro agreed to enforce budget discipline across the region.

Since May 1, when the Dow closed at a four-year high, worries about Europe have resurfaced. In elections on Sunday, Greek and French voters ousted leaders who had imposed tough spending cuts to soothe investors.

In the six losing days that ended Wednesday, the Dow gave back 444 points ”” one-sixth of the points it gained during its eight-month rally. The Dow closed down 97.03 points, or 0.8 percent, at 12,835.06.

Greece, without a government since Sunday's elections, appears increasingly likely to exit the euro currency union or be forced out. The resulting uncertainty could cause turmoil throughout global markets.

The spring decline has become a motif on Wall Street. In 2010 and 2011, the Dow climbed in the first three months of the year, then flat-lined or lost ground as events overseas overshadowed modest economic growth in the U.S.

The market today is tame compared with last summer, when the Dow routinely swung by hundreds of points a day

 *The NYSE DOW closed  	LOWER ▼	-97.03	points or ▼	-0.75%	Wednesday, 9 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,835.06	▼	-97.03	▼	-0.75%	
	Nasdaq___	2,934.71	▼	-11.56	▼	-0.39%	
	S&P_500__	1,354.58	▼	-9.14	▼	-0.67%	
	30_Yr_Bond	3.039	▲	0.02	▲	0.53%	

NYSE Volume	 4,288,529,000 			 		 	
Nasdaq Volume	 2,076,905,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,530.05	▼	-24.50	▼	-0.44%	
	DAX_____	6,475.31	▲	30.57	▲	0.47%	
	CAC_40__	3,118.65	▼	-6.15	▼	-0.20%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,332.20	▼	-43.70	▼	-1.00%	
	Shanghai_Comp	2,408.59	▼	-40.30	▼	-1.65%	
	Taiwan_Weight	7,475.71	▼	-70.00	▼	-0.93%	
	Nikkei_225____	9,045.06	▼	-136.59	▼	-1.49%	
	Hang_Seng____	20,330.64	▲	53.93	▼	-0.75%	
	Strait_Times___	2,909.91	▼	-22.07	▼	-0.75%	
	NZX 50 Index__	3,559.47	▲	7.41	▲	0.21%	

http://www.google.com/hostednews/ap...ccb7iA?docId=71ae936c892b4765988faeaf3a24013d

*US stocks fall as Europe doubts bubble to surface

Stocks fall as traders fret about Europe again; commodities dip on fears about global growth*

By Daniel Wagner, AP Business Writer 

Fear of European debt is once again playing havoc with Wall Street.

Stocks pitched down Wednesday in the United States as borrowing rates climbed for Spain and Italy, a sign that investors are losing confidence in those countries' finances.

Spain's 10-year borrowing rate leapt to 6.06 percent from 5.70 percent early Tuesday. Many fear that Spain, strangled by high unemployment and a real estate collapse, could be the next nation to require financial rescue.

The Dow Jones industrial average was down as much as 184 points before recovering about half of the loss. Still, the average has fallen for six consecutive days, its longest losing streak since last summer.

The Dow soared 2,624 points, or 25 percent, from Oct. 3 through May 1 as European leaders appeared to get a handle on the debt crisis. Last fall, nations that use the euro agreed to enforce budget discipline across the region.

Since May 1, when the Dow closed at a four-year high, worries about Europe have resurfaced. In elections on Sunday, Greek and French voters ousted leaders who had imposed tough spending cuts to soothe investors.

In the six losing days that ended Wednesday, the Dow gave back 444 points ”” one-sixth of the points it gained during its eight-month rally. The Dow closed down 97.03 points, or 0.8 percent, at 12,835.06.

Greece, without a government since Sunday's elections, appears increasingly likely to exit the euro currency union or be forced out. The resulting uncertainty could cause turmoil throughout global markets.

The spring decline has become a motif on Wall Street. In 2010 and 2011, the Dow climbed in the first three months of the year, then flat-lined or lost ground as events overseas overshadowed modest economic growth in the U.S.

The market today is tame compared with last summer, when the Dow routinely swung by hundreds of points a day.

But the atmosphere is starting to resemble last year's as traders sell anything deemed risky based on the latest headlines from Europe, said Peter Tchir, who trades a range of investments for his hedge fund TF Market Advisors.

"The concern in Spain is at such a high level that people trade the indexes or big futures contracts and are less discriminating about what risk they're taking on," he said.

On Wednesday, prices fell for commodities such as energy, copper and silver that are needed to sustain broad economic growth but are less valuable when the economy is weaker and demand wanes.

Benchmark crude oil, which sold for about $110 per barrel earlier this year, fell below $100 last week and kept sliding. It closed below $97 Wednesday on the New York Mercantile Exchange, continuing its longest decline since last July.

Commodity prices also were under pressure because the dollar rose against the euro, sending the euro down as low as $1.2910, its lowest point since Jan. 23. Commodities are traded in dollars, so a strong dollar makes them appear more expensive to investors who hold foreign currencies.

European stocks are having one of their worst weeks in months. London's FTSE 100 index is down 2.2 percent this week, its worst performance since December. Stocks in Athens are down 10.8 percent, the most since August.

Cash flowed into ultra-safe investments such as U.S. Treasurys, pushing the yield on the 10-year note as low as 1.80 percent, near a seven-month low. The yield finished the day at 1.84 percent as stocks moved off their earlier lows.

One reason that demand for Treasurys is increasing: As Europe deteriorates and hiring in the U.S. slows, traders believe that the Federal Reserve is more likely to engage in another round of bond-buying to juice the economy.

Bond-buying by the Fed lowers bond yields, pushing more cash into stocks and commodities. When traders expect the Fed to act, they buy bonds to take advantage of the extra demand that the Fed's buying will create.

Economic indicators and corporate earnings in the U.S. continue to signal recovery, albeit a choppy one. The government said after trading began that U.S. wholesale stockpiles grew in March at their slowest pace in four months, a sign demand is too weak for companies to ramp up production.

The Standard & Poor's 500 index and Nasdaq composite average both closed well above their lows for the day. The S&P fell 9.14 points, or 0.7 percent, to 1,354.58. The Nasdaq dropped 11.56, or 0.4 percent, to 2,934.71.

Tchir expects the market to grow more volatile as traders track deadlines for indebted European nations to repay bond investors or raise cash. For investors who benefited from the recent rally, he said, "I think it's time to take money off the table." There's too much of a disconnect between the Dow's recent four-year high and European markets that are scraping three-year lows, he said.

European stocks rose into the close, recovering some earlier losses. Indexes in France and London closed down less than 1 percent after steep losses earlier.

In corporate news:

”” Chiquita Brands plunged 28.9 percent after the banana purveyor reported first-quarter earnings that were far below the expectations of Wall Street analysts.

”” Macy's lost 3.8 percent after the department store chain made an earnings forecast that fell below Wall Street projections.

”” Walt Disney Co. rose 1.6 percent, the most of the 30 stocks in the Dow, after the whimsy-production conglomerate said its fiscal second-quarter earnings outpaced expectations.


----------



## bigdog

Source: http://finance.yahoo.com 


The Dow Jones industrial average broke a six-day losing streak Thursday, notching a small gain after the government released better unemployment numbers. 

The Dow rose 19.98 points to close at 12,855.04, after rising almost 100 points earlier in the day. The Standard & Poor's 500 index rose 3.41 points to close at 1,357.99. 

Before Thursday, the Dow had fallen six days in a row, its longest losing streak since August. 

Investors have worried that job growth is fading. They were encouraged by a Labor Department report that applications for unemployment benefits dropped 1,000 to 367,000 in the week ending May 5. 

That pulled the four-week average, which economists watch more closely, down to 379,000 ”” closer to the 375,000 level, which suggests job growth is strong enough to reduce the unemployment rate. 

Eight out of 10 industry groups in the S&P 500 rose, with only materials and technology stocks declining. Utilities were the biggest gainers, up 0.9 percent, followed by health care and consumer staples. 

Tech stocks closed down 0.8 percent, and the Nasdaq composite index fell 1.07 points to 2,933.64. Networking gear maker Cisco Systems plunged 10.5 percent after warning that technology spending appears to be slowing and that its revenue would rise much less than analysts expected this quarter. Hardware maker Oracle fell 2.7 percent. 

Stocks also benefited from news that Spain would take over Bankia SA, the country's fourth-largest bank, which has high exposure to bad property loans. The government hopes to convince investors that Spain won't need a bailout. The yield on Spain's 10-year debt fell 0.12 percentage points to 5.95 percent ”” meaning its borrowing costs fell slightly because of reduced worries about its debt. 

Spain's IBEX 35 index jumped 3.4 percent. 

 *The NYSE DOW closed  	HIGHER ▲	19.98	points or ▲	0.16%	Thursday, 10 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,855.04	▲	19.98	▲	0.16%	
	Nasdaq___	2,933.64	▼	-1.07	▼	-0.04%	
	S&P_500__	1,357.99	▲	3.41	▲	0.25%	
	30_Yr_Bond	3.051	▲	0.01	▲	0.39%	

NYSE Volume	 3,736,279,250 			 		 	
Nasdaq Volume	 2,020,612,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,543.95	▲	13.90	▲	0.25%	
	DAX_____	6,518.00	▲	42.69	▲	0.66%	
	CAC_40__	3,130.17	▲	11.52	▲	0.37%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,353.80	▲	21.60	▲	0.50%	
	Shanghai_Comp	2,410.23	▲	1.64	▲	0.07%	
	Taiwan_Weight	7,484.01	▲	8.30	▲	0.11%	
	Nikkei_225____	9,009.65	▼	-35.41	▼	-0.39%	
	Hang_Seng____	20,227.28	▲	53.93	▼	-0.51%	
	Strait_Times___	2,903.60	▲	2.69	▲	0.09%	
	NZX 50 Index__	3,569.05	▲	9.58	▲	0.27%	

http://finance.yahoo.com/news/dow-b...05YWUwLTExZTEtOWRlYy04OWE2ZWMzZDBlOTk-;_ylv=3

*Dow breaks 6-day losing streak, barely

US stocks rise after unemployment claims report; tech stocks fall on Cisco warning*

By Joshua Freed, AP Business Writer 

The Dow Jones industrial average broke a six-day losing streak Thursday, notching a small gain after the government released better unemployment numbers. 

The Dow rose 19.98 points to close at 12,855.04, after rising almost 100 points earlier in the day. The Standard & Poor's 500 index rose 3.41 points to close at 1,357.99. 

Before Thursday, the Dow had fallen six days in a row, its longest losing streak since August. 

Investors have worried that job growth is fading. They were encouraged by a Labor Department report that applications for unemployment benefits dropped 1,000 to 367,000 in the week ending May 5. 

That pulled the four-week average, which economists watch more closely, down to 379,000 ”” closer to the 375,000 level, which suggests job growth is strong enough to reduce the unemployment rate. 

Eight out of 10 industry groups in the S&P 500 rose, with only materials and technology stocks declining. Utilities were the biggest gainers, up 0.9 percent, followed by health care and consumer staples. 

Tech stocks closed down 0.8 percent, and the Nasdaq composite index fell 1.07 points to 2,933.64. Networking gear maker Cisco Systems plunged 10.5 percent after warning that technology spending appears to be slowing and that its revenue would rise much less than analysts expected this quarter. Hardware maker Oracle fell 2.7 percent. 

Stocks also benefited from news that Spain would take over Bankia SA, the country's fourth-largest bank, which has high exposure to bad property loans. The government hopes to convince investors that Spain won't need a bailout. The yield on Spain's 10-year debt fell 0.12 percentage points to 5.95 percent ”” meaning its borrowing costs fell slightly because of reduced worries about its debt. 

Spain's IBEX 35 index jumped 3.4 percent. 

"Europe's problems are by no means being solved. But the feeling that there is some support there probably helps sentiment a little bit," said Ed Hyland, a global investment specialist with J.P. Morgan Private Bank. 

Other European stocks rose, too. Britain's FTSE 100 closed 0.3 percent higher, and Germany's DAX rose 0.7 percent. 

Other U.S. stocks on the move: 

”” Pfizer rose 1.7 percent after the drugmaker got preliminary approval for an arthritis drug. 

”” Avon fell 3.3 percent after beauty products maker Coty Inc. raised its offer to buy Avon but also said it will withdraw the latest bid if it doesn't get a response by the close of business Monday. Some analysts have been saying Avon is worth more. 

”” Kohl's fell 4.3 percent after price-cutting led to a 23 percent drop in its first-quarter profit. 

Oil prices rose 8 cents to $96.89 per barrel.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks fade into the close; steep sell-off in investment bank stocks after JPMorgan's loss

JPMorgan's surprise $2 billion trading loss prompted a sell-off in financial stocks Friday, with smaller declines across the broader market as investors decided this was more of a problem for investment banks than for other industries. 

Most of the 10 industries in the Standard & Poor's 500 index were flat or posted modest declines; financial stocks fell 1.1 percent. 

For that, the other investment banks could thank JPMorgan, America's biggest bank. The stock plunged 9.3 percent, dragging other banks with big Wall Street operations down with it. Morgan Stanley fell 4.2 percent and Goldman Sachs fell 3.9 percent. Citigroup fell 4.2 percent. 

Retail-focused banks fared better. Wells Fargo edged up 0.4 percent. 

JPMorgan's blunder comes in the midst of a political battle over how closely to regulate banks, though JP Morgan's CEO Jamie Dimon said the trades would not have been affected by the so-called Volcker rule, expected to take effect this summer. Still, the $2 billion loss is sure to be used as ammunition by those pushing for tighter regulation of investment banks. 

"It'll definitely have a political impact," said Randy Warren, chief investment officer for Warren Financial Service. 

The Dow Jones industrial average fell 34.44 points to close at 12,920.60. It had waffled around with small gains and losses throughout most of the day before settling into the red in the afternoon. 

The Standard & Poor's 500 index fell 4.60 points to close at 1,353.39. The Nasdaq composite index, which is heavily weighted with technology stocks, was up 0.18 points to 2,933.82. 

 *The NYSE DOW closed  	LOWER ▼	-34.44	points or ▼	-0.27%	Friday, 11 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,820.60	▼	-34.44	▼	-0.27%	
	Nasdaq___	2,933.82	▲	0.18	▲	0.01%	
	S&P_500__	1,353.39	▼	-4.60	▼	-0.34%	
	30_Yr_Bond	3.015	▼	-0.04	▼	-1.18%	

NYSE Volume	 3,869,074,000 			 		 	
Nasdaq Volume	 1,742,127,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,575.52	▲	31.57	▲	0.57%	
	DAX_____	6,579.93	▲	61.93	▲	0.95%	
	CAC_40__	3,129.77	▼	-0.40	▼	-0.01%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,342.70	▼	-11.10	▼	-0.25%	
	Shanghai_Comp	2,394.98	▼	-15.25	▼	-0.63%	
	Taiwan_Weight	7,401.37	▼	-82.64	▼	-1.10%	
	Nikkei_225____	8,953.31	▼	-56.34	▼	-0.63%	
	Hang_Seng____	19,964.63	▲	53.93	▼	-1.30%	
	Strait_Times___	2,883.40	▼	-20.20	▼	-0.70%	
	NZX 50 Index__	3,548.06	▼	-20.99	▼	-0.59%	

http://finance.yahoo.com/news/stock...05YmFkLTExZTEtOGJiZC1iMmIwNDEzZGRjNDY-;_ylv=3

*Stock market decline is muted, despite bank slump

Stocks fade into the close; steep sell-off in investment bank stocks after JPMorgan's loss*

By Joshua Freed, AP Business Writer 		

JPMorgan's surprise $2 billion trading loss prompted a sell-off in financial stocks Friday, with smaller declines across the broader market as investors decided this was more of a problem for investment banks than for other industries. 

Most of the 10 industries in the Standard & Poor's 500 index were flat or posted modest declines; financial stocks fell 1.1 percent. 

For that, the other investment banks could thank JPMorgan, America's biggest bank. The stock plunged 9.3 percent, dragging other banks with big Wall Street operations down with it. Morgan Stanley fell 4.2 percent and Goldman Sachs fell 3.9 percent. Citigroup fell 4.2 percent. 

Retail-focused banks fared better. Wells Fargo edged up 0.4 percent. 

JPMorgan's blunder comes in the midst of a political battle over how closely to regulate banks, though JP Morgan's CEO Jamie Dimon said the trades would not have been affected by the so-called Volcker rule, expected to take effect this summer. Still, the $2 billion loss is sure to be used as ammunition by those pushing for tighter regulation of investment banks. 

"It'll definitely have a political impact," said Randy Warren, chief investment officer for Warren Financial Service. 

The Dow Jones industrial average fell 34.44 points to close at 12,920.60. It had waffled around with small gains and losses throughout most of the day before settling into the red in the afternoon. 

The Standard & Poor's 500 index fell 4.60 points to close at 1,353.39. The Nasdaq composite index, which is heavily weighted with technology stocks, was up 0.18 points to 2,933.82. 

Microsoft and Intel both rose 1.4 percent after Intel told analysts that it is on track to meet sales expectations. Tech investors were relieved to hear that one day after Cisco Systems prompted selling in tech shares by being pessimistic about sales. Semiconductor maker Nvidia jumped 6.4 percent after reporting revenue that was higher than analysts were expecting. 

Some consumer discretionary stocks did well, with retailer Bed Bath & Beyond jumping 4.1 percent, one of the biggest gains in the S&P 500 index, and video streaming and DVD-by-mail company Netflix rose 6.9 percent. 

Pharmacy benefits manger Express Scripts rose 1.4 percent after it reported prescription growth in its first quarter since splitting with drugstore chain Walgreen. 

Verizon and AT&T each rose about 1.5 percent after Credit Suisse analyst Jonathan Chaplin raised his earnings estimates for this year and next. They're making phone upgrades more expensive for customers, which should help the phone companies' bottom lines, Chaplin wrote. 

Also Friday, the Labor Department said that the producer price index, which measures price changes before they reach the consumer, dropped 0.2 percent last month. It was the first decline since December and the biggest drop since October. Declines were driven by gas and energy prices. That's good news for consumer spending. 

Separately, a closely watched measure of consumer confidence from the University of Michigan released Friday morning was better than analysts had expected. The index was at its highest level since January 2008. 

Oil prices fell 95 cents to $96.13 per barrel. Gold fell $11.50 to $1,584 per ounce. 

In Europe, France's CAC 40 index recovered from a slump and closed with a minuscule loss. Other markets also rallied into the close. Britain's FTSE 100 ended up 0.6 percent and Germany's DAX rose 1 percent; both were lower earlier in the day. Borrowing costs for Germany and France fell, while costs for Italy and Spain rose as investors remain focused on Greece, where another general election is expected for next month following the failure of attempts to form a government.

6729


----------



## bigdog

Source: http://finance.yahoo.com 

A political stalemate in Greece rattled financial markets worldwide on Monday, driving U.S. stocks lower. 

The euro sank to a three-month low against the dollar and borrowing costs for Spain and Italy jumped as bond traders anticipated that financial stress could spread far beyond Greece. Investors dumped risky assets and plowed into the safety of the Treasury market, pushing yields to their lowest levels this year. 

The Dow Jones industrial average dropped 125.25 points to close at 12,695.35. The Dow has lost more than half of its gains for the year in the past two weeks as worries resurface about Europe and the strength of the U.S. economy. 

In Athens, talks between political parties to form a government dragged into a second week. The uncertainty has raised concerns that Greece could miss a debt payment and drop the euro currency. The worry is that if Greece leaves the currency union, bond traders may demand steeper borrowing rates from other troubled countries and push them deeper into debt. 

The turmoil could easily spread to the U.S. through the banking system. "The large banks are globally connected," said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott. "The concrete fear is that if Greece exits the euro, that would hurt European banks. They'll pull back lending to U.S. banks and then they'd be in worse shape." 

In other trading, the Standard & Poor's 500 index dropped 15.04 points to 1,338.35. The Nasdaq composite sank 31.24 points to 2,902.58. 

The losses swept across the market. All 10 of the industry groups within the S&P 500 fell. 

 *The NYSE DOW closed  	LOWER ▼	-125.25	points or ▼	-0.98%	Monday, 14 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,695.35	▼	-125.25	▼	-0.98%	
	Nasdaq___	2,902.58	▼	-31.24	▼	-1.06%	
	S&P_500__	1,338.35	▼	-15.04	▼	-1.11%	
	30_Yr_Bond	2.949	▼	-0.07	▼	-2.19%	

NYSE Volume	 3,580,409,000 			 		 	
Nasdaq Volume	 1,681,413,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,465.52	▼	-110.00	▼	-1.97%	
	DAX_____	6,451.97	▼	-127.96	▼	-1.94%	
	CAC_40__	3,057.99	▼	-71.78	▼	-2.29%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,351.90	▲	9.20	▲	0.21%	
	Shanghai_Comp	2,380.73	▼	-14.26	▼	-0.60%	
	Taiwan_Weight	7,377.18	▼	-24.19	▼	-0.33%	
	Nikkei_225____	8,973.84	▲	20.53	▲	0.23%	
	Hang_Seng____	19,735.04	▲	53.93	▼	-1.15%	
	Strait_Times___	2,864.12	▼	-19.28	▼	-0.67%	
	NZX 50 Index__	3,555.36	▲	7.29	▲	0.21%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks, euro drop as deadlock continues in Greece

Stocks sink as Greek political paralysis drags into a second week, threatening euro exit*

A political stalemate in Greece rattled financial markets worldwide on Monday, driving U.S. stocks lower. 

The euro sank to a three-month low against the dollar and borrowing costs for Spain and Italy jumped as bond traders anticipated that financial stress could spread far beyond Greece. Investors dumped risky assets and plowed into the safety of the Treasury market, pushing yields to their lowest levels this year. 

The Dow Jones industrial average dropped 125.25 points to close at 12,695.35. The Dow has lost more than half of its gains for the year in the past two weeks as worries resurface about Europe and the strength of the U.S. economy. 

In Athens, talks between political parties to form a government dragged into a second week. The uncertainty has raised concerns that Greece could miss a debt payment and drop the euro currency. The worry is that if Greece leaves the currency union, bond traders may demand steeper borrowing rates from other troubled countries and push them deeper into debt. 

The turmoil could easily spread to the U.S. through the banking system. "The large banks are globally connected," said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott. "The concrete fear is that if Greece exits the euro, that would hurt European banks. They'll pull back lending to U.S. banks and then they'd be in worse shape." 

In other trading, the Standard & Poor's 500 index dropped 15.04 points to 1,338.35. The Nasdaq composite sank 31.24 points to 2,902.58. 

The losses swept across the market. All 10 of the industry groups within the S&P 500 fell. 

JPMorgan Chase's $2 billion trading loss continued to hang over bank stocks. JPMorgan dropped 3 percent following news that the executive overseeing its trading strategy would step down. Morgan Stanley and Citigroup, two banks with large trading operations, sank more than 4 percent. 

The loss to JPMorgan appears "manageable," said Matt Freund, a portfolio manager at USAA Investments. "But people are looking at other banks and wondering who's going to be next? What else could be lurking?" 

Major markets in Europe plunged. France's CAC-40 and Germany's DAX lost 2 percent. Benchmark indexes fell nearly 3 percent in Italy and Spain. 

Traders shifted money into the safest of government bonds, pushing Treasury prices up and their yields down. The yield on the 10-year note hit a low for the year, 1.77 percent. 

Since hitting its high for the year on May 1, the Dow has been on a steady slide, closing lower on seven of the previous eight trading days. The Dow's 1.7 percent loss last week was its worst since Dec. 16. 

Despite the broad market decline, some stocks posted gains: 

”” Chesapeake Energy Corp. jumped 4 percent on reports that the investor Carl Icahn bought a stake in the natural gas company. Chesapeake's CEO said he'd welcome an investment by Icahn, who is known for shaking up companies. 

”” Yahoo gained 2 percent. The company replaced its CEO, Scott Thompson. Yahoo reportedly pushed Thompson out for padding his resume. 

”” Electronics retailer Best Buy Co. rose 1 percent after the company's founder, Richard Schulze, said he would step down as chairman. An investigation found that he knew the CEO was having a relationship with a female employee and didn't tell an audit committee


By Matthew Craft


----------



## bigdog

Source: http://finance.yahoo.com 

Dow Jones industrial average continues two-week slide as Europe casts gloom over markets

Europe's latest political impasse cast a gloom over financial markets Tuesday. The euro plunged, and the Dow Jones industrial average extended a slide that has wiped out nearly 5 percent of its value in two weeks. 

The biggest action of the day came shortly before U.S. markets opened, when a Greek party leader announced the talks to build a coalition government had failed. The euro and major European stock markets turned sharply lower and stayed there the rest of the day. 

Newly elected political leaders in Greece disagree about whether to accept more international bailouts and continue with painful spending cuts. If Greece exits the euro currency, it could rattle financial markets around the world. 

In the U.S., stocks opened mixed and then staged a weak, mid-morning rally after word that confidence among U.S. builders rose to a five-year high in May. Homebuilders gained: Hovnanian Enterprises surged 10 percent, Lennar Corp. 3 percent and PulteGroup Inc. 2 percent. 

The Dow and other stock indexes meandered between gains and losses for much of the day, then turned decisively lower in the last hour of trading. 

The Dow wound up with a loss of 63.35 points, or 0.5 percent, to close at 12,632. Losses by most of its components were offset by a big gain for JPMorgan Chase. The nation's biggest bank rose 1.3 percent, recovering some of the losses it has sustained since revealing a $2 billion trading loss last week. 

The Dow has lost 647 points, or 4.9 percent, since May 1, when it hit a four-year high of 13,279.32. In that time it has fallen every day but one. The Dow is on track for its first monthly decline since September, when it fell 6 percent. 

The Standard & Poor's 500 index finished down 7.69 points, or 0.6 percent, at 1,330.66. The Nasdaq composite index fell 8.82, or 0.3 percent, to 2,893.76.

 *The NYSE DOW closed  	LOWER ▼	-63.35	points or ▼	-0.50%	Tuesday, 15 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,632.00	▼	-63.35	▼	-0.50%	
	Nasdaq___	2,893.76	▼	-8.82	▼	-0.30%	
	S&P_500__	1,330.66	▼	-7.69	▼	-0.57%	
	30_Yr_Bond	2.931	▼	-0.02	▼	-0.61%	

NYSE Volume	 4,075,811,500 			 		 	
Nasdaq Volume	 1,824,148,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,437.62	▼	-27.90	▼	-0.51%	
	DAX_____	6,401.06	▼	-50.91	▼	-0.79%	
	CAC_40__	3,039.27	▼	-18.72	▼	-0.61%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,316.30	▼	-35.60	▼	-0.82%	
	Shanghai_Comp	2,374.84	▼	-5.88	▼	-0.25%	
	Taiwan_Weight	7,395.64	▲	18.46	▲	0.25%	
	Nikkei_225____	8,900.74	▼	-73.10	▼	-0.81%	
	Hang_Seng____	19,894.31	▲	53.93	▲	0.81%	
	Strait_Times___	2,876.70	▲	12.58	▲	0.44%	
	NZX 50 Index__	3,534.92	▼	-20.44	▼	-0.57%	

http://finance.yahoo.com/news/dow-jones-average-continues-two-210731883.html

*Dow Jones average continues a two-week slide

Dow Jones industrial average continues two-week slide as Europe casts gloom over markets*

By Daniel Wagner, AP Business Writer 

Europe's latest political impasse cast a gloom over financial markets Tuesday. The euro plunged, and the Dow Jones industrial average extended a slide that has wiped out nearly 5 percent of its value in two weeks. 

The biggest action of the day came shortly before U.S. markets opened, when a Greek party leader announced the talks to build a coalition government had failed. The euro and major European stock markets turned sharply lower and stayed there the rest of the day. 

Newly elected political leaders in Greece disagree about whether to accept more international bailouts and continue with painful spending cuts. If Greece exits the euro currency, it could rattle financial markets around the world. 

In the U.S., stocks opened mixed and then staged a weak, mid-morning rally after word that confidence among U.S. builders rose to a five-year high in May. Homebuilders gained: Hovnanian Enterprises surged 10 percent, Lennar Corp. 3 percent and PulteGroup Inc. 2 percent. 

The Dow and other stock indexes meandered between gains and losses for much of the day, then turned decisively lower in the last hour of trading. 

The Dow wound up with a loss of 63.35 points, or 0.5 percent, to close at 12,632. Losses by most of its components were offset by a big gain for JPMorgan Chase. The nation's biggest bank rose 1.3 percent, recovering some of the losses it has sustained since revealing a $2 billion trading loss last week. 

The Dow has lost 647 points, or 4.9 percent, since May 1, when it hit a four-year high of 13,279.32. In that time it has fallen every day but one. The Dow is on track for its first monthly decline since September, when it fell 6 percent. 

The Standard & Poor's 500 index finished down 7.69 points, or 0.6 percent, at 1,330.66. The Nasdaq composite index fell 8.82, or 0.3 percent, to 2,893.76. 

The euro fell as low as $1.2720, a four-month low against the dollar, after Greek socialist leader Evangelos Venizelos declared that attempts to form a governing coalition there had failed and new elections will be held next month. 

Aside from fears about Europe, stocks are suffering because a string of weaker economic data has dimmed hopes for corporate profits in the current quarter ending June 30, said John Butters, senior earnings analyst at FactSet, a financial data provider. 

For the first month of the quarter, as earnings came in strong and stocks rose, analysts' expectations for second-quarter earnings growth held steady at 6 percent, Butters said. In the two weeks since, as the U.S. economy appeared to soften and Europe's problems reemerged, he said, analysts cut their estimates for S&P 500 earnings growth to 5 percent. 

Analysts expect earnings to decline this quarter for half of the 10 industry groups in the S&P 500, Butters said. He said many expect a strong rebound in the fourth quarter as demand returns in emerging markets like China and India. 

Among other stocks making big moves: 

”” Home Depot slumped 2.4 percent after the world's biggest home-improvement company forecast revenue that was below what Wall Street analysts were expecting. 

”” TJX Cos., which owns the T.J. Maxx, Marshalls and HomeGoods store chains, shot up 6.9 percent, the most in the S&P 500 index. The discount retailer reported a 58 percent surge in first-quarter income and raised its full-year profit forecast. 

”” Avon Products Inc. fell 9.7 percent, the most in the S&P 500 index, after perfume marketer Coty Inc. canceled its unsolicited, $10.7 billion bid for the cosmetics retailer. 

”” Groupon rose 3.7 percent after the online daily discount site reported first-quarter revenue that exceeded analysts' expectations.


----------



## bigdog

Source: http://finance.yahoo.com 

Worries about a messy Greek exit from euro extend market slump; euro is weakest since January

The unending turmoil in Greece spread fallout across the financial markets Wednesday. The Dow Jones industrial average fell for the ninth day out of 10, and gold, oil, and the euro all dropped to multi-month lows. 

Greece called a new round of elections for June 17 after coalition talks to form a government fell apart. The president said depositors were pulling hundreds of millions of euros out of banks, weakening the country's strained financial system. 

The main cause for investor worry was that Greece would pull out of the group of countries that use the euro, and that that would throw the global markets into chaos. 

For U.S. stocks, it was a fairly quiet day, but another decline in a month that has been relentlessly downbeat. The Dow fell 33.45 points to 12,598.55, and the Standard & Poor's 500 index fell 5.86 points to 1,324.80. 

The Dow has been on a nearly unbroken slide since May 1, when it closed at a four-year high. Since then, it has had just one up day, and that was a gain of only 20 points on May 10. 

The average has lost 4.4 percent in May and is headed for its first losing month since September. 

"We're in a period where there's little conviction to buy," said Richard Cripps, chief investment officer at brokerage Stifel Financial. "The road ahead is too uncertain because of European concerns and the presidential election later this year." 

Elsewhere in the markets, it was an eventful day: 

— The dollar continued its two-week climb against the euro. The dollar improved to $1.27 per euro, the strongest since January, as traders worried about a messy exit from the euro bloc by Greece. 	

 *The NYSE DOW closed  	LOWER ▼	-33.45	points or ▼	-0.26%	Wednesday, 16 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,598.55	▼	-33.45	▼	-0.26%	
	Nasdaq___	2,874.04	▼	-19.72	▼	-0.68%	
	S&P_500__	1,324.80	▼	-5.86	▼	-0.44%	
	30_Yr_Bond	2.906	▼	-0.03	▼	-0.85%	

NYSE Volume	 4,254,615,000 			 		 	
Nasdaq Volume	 1,930,387,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,405.25	▼	-32.37	▼	-0.60%	
	DAX_____	6,384.26	▼	-16.80	▼	-0.26%	
	CAC_40__	3,048.67	▲	9.40	▲	0.31%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,214.70	▼	-101.60	▼	-2.35%	
	Shanghai_Comp	2,346.19	▼	-28.65	▼	-1.21%	
	Taiwan_Weight	7,234.57	▼	-161.07	▼	-2.18%	
	Nikkei_225____	8,801.17	▼	-99.57	▼	-1.12%	
	Hang_Seng____	19,259.83	▲	53.93	▼	-3.19%	
	Strait_Times___	2,831.15	▼	-45.55	▼	-1.58%	
	NZX 50 Index__	3,514.51	▼	-20.41	▼	-0.58%	

http://finance.yahoo.com/news/greek-turmoil-spreads-pessimism-across-213138001.html

*Greek turmoil spreads pessimism across markets

Worries about a messy Greek exit from euro extend market slump; euro is weakest since January*

By Pallavi Gogoi, AP Business Writer

NEW YORK (AP) -- The unending turmoil in Greece spread fallout across the financial markets Wednesday. The Dow Jones industrial average fell for the ninth day out of 10, and gold, oil, and the euro all dropped to multi-month lows. 

Greece called a new round of elections for June 17 after coalition talks to form a government fell apart. The president said depositors were pulling hundreds of millions of euros out of banks, weakening the country's strained financial system. 

The main cause for investor worry was that Greece would pull out of the group of countries that use the euro, and that that would throw the global markets into chaos. 

For U.S. stocks, it was a fairly quiet day, but another decline in a month that has been relentlessly downbeat. The Dow fell 33.45 points to 12,598.55, and the Standard & Poor's 500 index fell 5.86 points to 1,324.80. 

The Dow has been on a nearly unbroken slide since May 1, when it closed at a four-year high. Since then, it has had just one up day, and that was a gain of only 20 points on May 10. 

The average has lost 4.4 percent in May and is headed for its first losing month since September. 

"We're in a period where there's little conviction to buy," said Richard Cripps, chief investment officer at brokerage Stifel Financial. "The road ahead is too uncertain because of European concerns and the presidential election later this year." 

Elsewhere in the markets, it was an eventful day: 

— The dollar continued its two-week climb against the euro. The dollar improved to $1.27 per euro, the strongest since January, as traders worried about a messy exit from the euro bloc by Greece. 

The stronger dollar drove the Indian currency, the rupee, to an all-time low. The rupee sank to 54.44 against the dollar, surpassing the prior low of 54.39 on Dec. 15. 

— The price of benchmark U.S. crude oil fell by $1.17 to finish at a seven-month low of $92.81 per barrel. It is down nearly 13 percent since the beginning of May. 

The prices of commodities that are traded in dollars, like oil and gold, tend to fall when the dollar rises. A report also showed U.S. crude supplies at the highest level in 22 years. 

— The price of gold fell $18.60 to $1,538, the lowest since December. Gold is approaching a 20 percent decline, the traditional definition of a bear market, from its peak of $1,907 in September. 

Besides the stronger dollar, exaggerated optimism about gold's prospects was an important factor in the sharp decline, said Jon Nadler, senior analyst at Montreal-based Kitco Metals. 

"Effectively, reality has caught up with the market," he said. 

— As investors fled to safer U.S. government bonds, the yield on the benchmark 10-year Treasury note hit its lowest level this year, 1.76 percent. 

The Nasdaq composite index fell 19.70 points to 2,874.04. 

Worries about Europe also spread beyond Greece. Spain's prime minister warned that the country, which is trembling under a 24.4 percent unemployment rate, could be locked out of international markets due to problems in the EU. 

One note of hope on the European debt crisis was sounded by Doug Cote, chief market strategist of ING Investment Management. He said Greek leaders would realize that tightening the country's budget would be better than the chaos that would follow if Greece abandoned its euro neighbors. 

"Is there the possibility that Greece would choose Armageddon? Sure," he said. "But why they would choose to inflict more pain on the Greek people is beyond me." 

There was positive news on the U.S. economy, but it wasn't enough to get investors excited. Construction of homes rose 2.6 percent from March, and U.S. factory production increased 0.6 percent in April, helped by a gain in auto production. 

Target stock bucked the broader market and rose 24 cents after a strong earnings report. Target said revenue at stores opened at least a year rose 5.3 percent, the strongest performance in six years for that period. 

Target's results may illustrate that Americans are beginning to spend cautiously as economic uncertainty persists. Though the job market is still shaky, the falling price of gas has given shoppers hope. 

Among other stocks making big moves: 

— JC Penney plunged 19.7 percent, the most in the S&P 500 index, after the retailer reported a bigger-than-expected first-quarter loss. Sales plummeted as shoppers are rejecting the retailer's new plan of getting rid of big sales throughout the year in favor of everyday low pricing. 

— Abercrombie & Fitch fell 13 percent after reporting that its first-quarter net income shrank 88 percent because of higher costs and declining sales in established stores and in Europe. 

— General Electric rose 3.2 percent, the most of the 30 stocks in the Dow, after the company said its finance unit will pay a special dividend of $4.5 billion to the parent company this year. It had suspended the payments in 2009 during a freeze in credit markets.


----------



## StumpyPhantom

+??? From above:


*One note of hope on the European debt crisis was sounded by Doug Cote, chief market strategist of ING Investment Management. He said Greek leaders would realize that tightening the country's budget would be better than the chaos that would follow if Greece abandoned its euro neighbors. 

"Is there the possibility that Greece would choose Armageddon? Sure," he said. "But why they would choose to inflict more pain on the Greek people is beyond me." *

I love how intelligent these analysts are but they just don't get it.  It doesn't matter what the Greek leaders realize or they don't.  Greece is the mother of all democracies and the people will have their say.  The Left is already out there on their anti-austerity platform.

Maybe this strategist thinks the Left is going to do a GIllard.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks fall sharply as investors fret over a Greek exit from the euro; S&P at 4-month low

The Dow Jones industrial average posted its 11th loss in 12 days after a pair of discouraging economic reports unnerved investors already worried about a possible exit from the euro by Greece. 

The Dow lost 156.06 points to close at 12,442.49. It's now down 6 percent for the month so far and could be headed for its first losing month since September. The two-week slump represents a sharp turn downward since May 1, when the index closed at a four-year high. 

The slide, which is largely due to escalating worries about a breakup of the European currency union, has stripped the Dow of much of this year's gains. As of the beginning of May it was up 8.7 percent for the year; now it's up just 1.8 percent. 

"Europe is very much on investors' minds," said Brian Gendreau, market strategist at broker-dealer Cetera Financial Group. "It's been two years with multiple bailouts involving Ireland, Portugal and Greece and things don't seem to be getting better." 

The dollar, Treasury prices and gold all rose as traders sought refuge in lower-risk assets. The yield on the 10-year Treasury note plunged to 1.70 percent, the lowest level of the year. 

Caterpillar fell 4 percent, the most of the 30 stocks in the Dow, after reporting that global sales growth of construction and mining machinery slowed between February and April. Wal-Mart stock rose over 4 percent, the most in the Dow, after reporting a 10 percent jump in first-quarter income, beating Wall Street expectations. 

Indexes opened lower on Wall Street following drops in European markets. The declines accelerated at mid-morning after the Federal Reserve Bank of Philadelphia said manufacturing slowed in the mid-Atlantic region for the first time in eight months. The report was far worse than analysts had been expecting. 

In other trading, the Standard & Poor's 500 index fell 19.94 points to 1,304.86, its lowest close since Jan. 17. The Nasdaq composite fell 60.35 points to 2,813.69.

 *The NYSE DOW closed  	LOWER ▼	-156.06	points or ▼	-1.24%	Thursday, 17 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,442.49	▼	-156.06	▼	-1.24%	
	Nasdaq___	2,813.69	▼	-60.35	▼	-2.10%	
	S&P_500__	1,304.86	▼	-19.94	▼	-1.51%	
	30_Yr_Bond	2.805	▼	-0.10	▼	-3.48%	

NYSE Volume	 4,664,281,000 			 		 	
Nasdaq Volume	 2,032,853,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,338.38	▼	-66.87	▼	-1.24%	
	DAX_____	6,308.96	▼	-75.30	▼	-1.18%	
	CAC_40__	3,011.99	▼	-36.68	▼	-1.20%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,208.50	▼	-6.20	▼	-0.15%	
	Shanghai_Comp	2,378.89	▲	32.69	▲	1.39%	
	Taiwan_Weight	7,356.77	▲	122.20	▲	1.69%	
	Nikkei_225____	8,876.59	▲	75.42	▲	0.86%	
	Hang_Seng____	19,200.93	▲	53.93	▼	-0.31%	
	Strait_Times___	2,822.61	▼	-8.54	▼	-0.30%	
	NZX 50 Index__	3,521.51	▲	7.00	▲	0.20%	

http://finance.yahoo.com/news/stocks-slump-dow-posts-11th-211017650.html

*Stocks slump; Dow posts 11th loss in 12 days

Stocks fall sharply as investors fret over a Greek exit from the euro; S&P at 4-month low*

By Pallavi Gogoi, AP Business Writer 

NEW YORK (AP) -- The Dow Jones industrial average posted its 11th loss in 12 days after a pair of discouraging economic reports unnerved investors already worried about a possible exit from the euro by Greece. 

The Dow lost 156.06 points to close at 12,442.49. It's now down 6 percent for the month so far and could be headed for its first losing month since September. The two-week slump represents a sharp turn downward since May 1, when the index closed at a four-year high. 

The slide, which is largely due to escalating worries about a breakup of the European currency union, has stripped the Dow of much of this year's gains. As of the beginning of May it was up 8.7 percent for the year; now it's up just 1.8 percent. 

"Europe is very much on investors' minds," said Brian Gendreau, market strategist at broker-dealer Cetera Financial Group. "It's been two years with multiple bailouts involving Ireland, Portugal and Greece and things don't seem to be getting better." 

The dollar, Treasury prices and gold all rose as traders sought refuge in lower-risk assets. The yield on the 10-year Treasury note plunged to 1.70 percent, the lowest level of the year. 

Caterpillar fell 4 percent, the most of the 30 stocks in the Dow, after reporting that global sales growth of construction and mining machinery slowed between February and April. Wal-Mart stock rose over 4 percent, the most in the Dow, after reporting a 10 percent jump in first-quarter income, beating Wall Street expectations. 

Indexes opened lower on Wall Street following drops in European markets. The declines accelerated at mid-morning after the Federal Reserve Bank of Philadelphia said manufacturing slowed in the mid-Atlantic region for the first time in eight months. The report was far worse than analysts had been expecting. 

In other trading, the Standard & Poor's 500 index fell 19.94 points to 1,304.86, its lowest close since Jan. 17. The Nasdaq composite fell 60.35 points to 2,813.69. 

The Conference Board said its measure of future U.S. economic growth fell in April after six months of increases. The drop came from fewer requests for building permits and a spike in applications for unemployment benefits. 

These gloomy reports were a surprise and exacerbated investors' fears of turmoil in the global markets from developments in Europe where Greece seemed headed for an exit from the euro bloc. 

Greece's caretaker Cabinet was sworn in Thursday and will hold power at least until next month's election. In the recently-held elections Greeks didn't given any party a majority, but they did give strong support to politicians who rejected the tough austerity measures that came with the country's financial bailout. 

Without that rescue package, Greece will likely default and be forced to leave the 17-country euro zone, which would destabilize other countries that use the euro. German, French and Spanish stock markets all fell more than 1 percent. 

The economic damage is already being felt by other members of the euro bloc. 

Spain was forced to pay sharply higher interest rates to raise $3.18 billion in a debt auction Thursday. And shares of Bankia, which Spain nationalized last week, plunged 20 percent on a report from the newspaper El Mundo stating that depositors have withdrawn over $1 billion since last Wednesday. 

Oil prices continued to trade lower, falling below $93 a barrel, extending a two-week sell-off, as traders worried about the potential impact on global growth from the European crisis. Crude oil has plummeted about 12 percent from $106 two weeks ago. 

Energy companies fell. Chesapeake Energy declined over 3 percent, while WPX Energy fell over 4 percent. 

The one bright spot for the markets was the excitement surrounding the initial public offering of Facebook. The uber-popular social media company set the price of its shares at $38 apiece late Thursday. The stock is expected to start trading at 11 am Friday. Facebook is set to raise $18.4 billion, becoming the second largest IPO ever after Visa. 

Among other stocks making big moves: 

”” Media General soared 33 percent after billionaire Warren Buffett's company Berkshire Hathaway agreed to buy 63 newspapers from the company for $142 million. 

”” GameStop fell 11 percent after the world's largest video game retailer reported its first-quarter profit fell 9.8 percent, as fewer customers visited its stores and bought new games and systems. 

”” Sears Holdings rose 3 percent after the beleaguered retailer turned a profit in the first quarter, benefiting from a gain on the sale of some stores.


----------



## bigdog

Source: http://finance.yahoo.com 

Facebook fails to boost stocks, which fall on Europe worries; Dow off 6 percent so far in May

It's going to take more than Facebook's initial public offering to push the stock market higher. 

Facebook shares rose 23 cents above their $38 offering price. It seemed like everything else fell. 

The Dow Jones industrial average has been in a slump over the past two weeks as traders saw an escalating risk that Greece could leave the euro, causing more disruptions in markets. Remember the go-go days of May 1, 2012? The Dow was up 8.7 percent for the year. After Friday, it's up just 1.2 percent. 

On Friday the Dow Jones industrial average dropped 73.11 points, to close at 12,369.38. It fell 3.5 percent for the week. The Dow has now declined on 12 of the last 13 trading days. 

Nine of the 10 industry groups in the Standard & Poor's 500 index fell. Financials dropped the most, 1.1 percent. 

First, Facebook. 

Trading for the year's most eagerly awaited initial public offering was delayed about 30 minutes because of a glitch at Nasdaq. Nasdaq said the problem was with sending messages about whether trades had been executed. It was almost two-and-a-half hours before it said its trade messages were working normally. 

The glitch sent shares of Nasdaq OMX Group Inc., parent company of the Nasdaq market, down 4.4 percent. 

Facebook shares were priced at $38 and initially traded as high as $45. They closed at $38.23. 

Europe was the bigger worry for investors. The Fitch ratings agency dropped Greece to the lowest possible grade for a country not in default Thursday. Fitch said Greece's departure from the euro "would be probable" if elections next month do not reverse political trends in Greece, which have brought in politicians opposed to the terms of Europe's bailout. 

 *The NYSE DOW closed  	LOWER ▼	-73.11	points or ▼	-0.59%	Friday, 18 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,369.38	▼	-73.11	▼	-0.59%	
	Nasdaq___	2,778.79	▼	-34.90	▼	-1.24%	
	S&P_500__	1,295.22	▼	-9.64	▼	-0.74%	
	30_Yr_Bond	2.789	▼	-0.02	▼	-0.57%	

NYSE Volume	 4,512,478,500 			 		 	
Nasdaq Volume	 2,707,848,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,267.62	▼	-70.76	▼	-1.33%	
	DAX_____	6,271.22	▼	-37.74	▼	-0.60%	
	CAC_40__	3,008.00	▼	-3.99	▼	-0.13%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,098.80	▼	-109.70	▼	-2.61%	
	Shanghai_Comp	2,344.52	▼	-34.37	▼	-1.44%	
	Taiwan_Weight	7,151.19	▼	-205.58	▼	-2.79%	
	Nikkei_225____	8,611.31	▼	-265.28	▼	-2.99%	
	Hang_Seng____	18,951.85	▲	53.93	▼	-1.30%	
	Strait_Times___	2,779.10	▼	-43.51	▼	-1.54%	
	NZX 50 Index__	3,501.44	▼	-20.07	▼	-0.57%	

http://finance.yahoo.com/news/stock...1hMTJlLTExZTEtYWI4ZC1jMmI2NzQ0YmUzMzU-;_ylv=3

*Stocks fall on Europe worries; Facebook debuts

Facebook fails to boost stocks, which fall on Europe worries; Dow off 6 percent so far in May*

By Joshua Freed, AP Business Writer

It's going to take more than Facebook's initial public offering to push the stock market higher. 

Facebook shares rose 23 cents above their $38 offering price. It seemed like everything else fell. 

The Dow Jones industrial average has been in a slump over the past two weeks as traders saw an escalating risk that Greece could leave the euro, causing more disruptions in markets. Remember the go-go days of May 1, 2012? The Dow was up 8.7 percent for the year. After Friday, it's up just 1.2 percent. 

On Friday the Dow Jones industrial average dropped 73.11 points, to close at 12,369.38. It fell 3.5 percent for the week. The Dow has now declined on 12 of the last 13 trading days. 

Nine of the 10 industry groups in the Standard & Poor's 500 index fell. Financials dropped the most, 1.1 percent. 

First, Facebook. 

Trading for the year's most eagerly awaited initial public offering was delayed about 30 minutes because of a glitch at Nasdaq. Nasdaq said the problem was with sending messages about whether trades had been executed. It was almost two-and-a-half hours before it said its trade messages were working normally. 

The glitch sent shares of Nasdaq OMX Group Inc., parent company of the Nasdaq market, down 4.4 percent. 

Facebook shares were priced at $38 and initially traded as high as $45. They closed at $38.23. 

Europe was the bigger worry for investors. The Fitch ratings agency dropped Greece to the lowest possible grade for a country not in default Thursday. Fitch said Greece's departure from the euro "would be probable" if elections next month do not reverse political trends in Greece, which have brought in politicians opposed to the terms of Europe's bailout. 

Also, ratings agency Moody's downgraded 16 Spanish banks late Thursday, three days after downgrading Italy's, noting they are vulnerable to huge losses on government debt. 

Representatives of the G-8 are meeting this weekend at Camp David, looking for assurances that leaders in Europe can contain damage if Greece leaves the euro. 

"Despite all the attention on the Facebook IPO, I think there's still lots of underlying uncertainty surrounding this European debt situation," said Scott Wren, senior equity strategist for Wells Fargo Advisors in St. Louis. "This Greek situation isn't good. I think it's going to get worse before it gets better. Probably the same with Spain." 

Borrowing costs for Italy rose slightly to 5.76 percent on Friday. The yield on Spain's 10-year bond fell slightly to 6.2 percent, a level that's still very high by historic standards. 

European shares edged lower, following several days of big losses. Britain's FTSE 100 fell 0.1 percent, Germany's DAX lost 0.6 percent and France's CAC-40 fell 0.1 percent. 

"The serious investors remain very concerned about the developments in Europe," said Jim Russell, regional investment director for US Bank Wealth Management in Cincinnati. "We think Facebook is a little bit of a sideshow. Great company. But maybe one that's valued on the high side of most people's tastes." 

The Standard & Poor's 500 index fell 9.64 points to close at 1,295.22. The Nasdaq composite index fell 34.90 points, or 1.2 percent, to close at 2,778.79. 

Hewlett-Packard fell 2.7 percent — the biggest decline among the Dow's 30 stocks — after it said it might eliminate up to 30,000 jobs because of dwindling demand for personal computers. 

Gap fell 2.3 percent even though it issued higher guidance for the year. 

There were bright spots. Salesforce.com jumped 8.8 percent after the maker of web-based business software reported better-than-expected earnings and raised its guidance for the year. Foot Locker rose 8.3 percent after its quarterly profit jumped 36 percent, sprinting past Wall Street predictions and setting a company record for quarterly earnings. 

Yahoo rose 3.7 percent after Dow Jones' tech website AllThingsD.com reported that the web portal is close to a deal to sell a large part of its stake in China's Alibaba Group. Many investors view the Alibaba stake as Yahoo's most valuable asset. 

Oil prices fell $1.08 to $91.48. Along with stocks, oil has dropped rapidly in recent days because slowing economies use less of it.

7526


----------



## bigdog

Source: http://finance.yahoo.com 

Europe muddles on, but US stocks rise as investors choose to focus on China instead

Forget Facebook. This is still Apple's stock market. 

Apple — the world's most valuable company — climbed nearly 6 percent on Monday, helping propel major U.S. stock indexes to gains after a week of losses. The Standard & Poor's 500, where Apple accounts for 4 percent of the index, enjoyed its best day in nearly five weeks. The Nasdaq composite index, where Apple accounts for an even heftier 12 percent, notched its biggest gain of the year. 

And it was no thanks to Facebook. The social networking giant, on its second day as a public company, plunged 11 percent to $34.03, even as the rest of the market rallied. 

It was tough to pin down any surefire reason for Facebook's stock decline. It did go public during the market's worst week of the year so far, and finished Friday just 23 cents above its opening price of $38. But that didn't explain Monday's decline. 

"There must have been some sober second thoughts about this," said Brian Wieser, an analyst at Pivotal Research Group who was first to come out with a "Sell" rating on Facebook's stock on Friday. He sees the stock as too expensive considering the risks associated with Facebook's brief history and unproven advertising model. His fair price, or "target price," is $30. 

Apple is also no stranger to fickle investors. Its stock soared 57 percent from the end of last year through April 9, climbing to more than $636 from $405 as iPhone sales seemed unstoppable. Then it fell for most of April and May, declining to about $530 on Friday, partly because investors are worried that phone companies will grow tired of subsidizing the expensive phones to sell to customers. 

But Monday's gain of $30.90 to $561.28 — its second-biggest climb of the year so far — came after several analysts said they expect its iPhone business to continue to do well. 

The benchmark Dow Jones industrial average rose 135.10 points, or 1.1 percent, to 12,504.48. The S&P 500 rose 20.77 points to 1,315.99, and the Nasdaq jumped 68.42 to 2,847.21. 

That was welcome relief after a month that has been crippled by Greece, which failed to elect a new government two weeks ago and is teetering close to leaving the euro.

 *The NYSE DOW closed  	HIGHER ▲	135.10	points or ▲	1.09%	Monday, 21 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,504.48	▲	135.10	▲	1.09%	
	Nasdaq___	2,847.21	▲	68.42	▲	2.46%	
	S&P_500__	1,315.99	▲	20.77	▲	1.60%	
	30_Yr_Bond	2.794	▲	0.01	▲	0.18%	

NYSE Volume	 3,790,762,750 			 		 	
Nasdaq Volume	 1,875,500,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,304.48	▼	-33.90	▼	-0.64%	
	DAX_____	6,331.04	▲	59.82	▲	0.95%	
	CAC_40__	3,027.15	▲	19.15	▲	0.64%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,124.40	▲	25.60	▲	0.62%	
	Shanghai_Comp	2,348.30	▲	3.78	▲	0.16%	
	Taiwan_Weight	7,192.23	▲	41.04	▲	0.57%	
	Nikkei_225____	8,633.89	▲	22.58	▲	0.26%	
	Hang_Seng____	18,922.32	▲	53.93	▼	-0.16%	
	Strait_Times___	2,790.16	▲	11.06	▲	0.40%	
	NZX 50 Index__	3,493.39	▼	-8.05	▼	-0.23%	

http://finance.yahoo.com/news/market-breaks-losing-streak-chinas-200829898.html

*Market breaks losing streak, with China's help

Europe muddles on, but US stocks rise as investors choose to focus on China instead*

By Christina Rexrode, AP Business Writer 

NEW YORK (AP) -- Forget Facebook. This is still Apple's stock market. 

Apple — the world's most valuable company — climbed nearly 6 percent on Monday, helping propel major U.S. stock indexes to gains after a week of losses. The Standard & Poor's 500, where Apple accounts for 4 percent of the index, enjoyed its best day in nearly five weeks. The Nasdaq composite index, where Apple accounts for an even heftier 12 percent, notched its biggest gain of the year. 

And it was no thanks to Facebook. The social networking giant, on its second day as a public company, plunged 11 percent to $34.03, even as the rest of the market rallied. 

It was tough to pin down any surefire reason for Facebook's stock decline. It did go public during the market's worst week of the year so far, and finished Friday just 23 cents above its opening price of $38. But that didn't explain Monday's decline. 

"There must have been some sober second thoughts about this," said Brian Wieser, an analyst at Pivotal Research Group who was first to come out with a "Sell" rating on Facebook's stock on Friday. He sees the stock as too expensive considering the risks associated with Facebook's brief history and unproven advertising model. His fair price, or "target price," is $30. 

Apple is also no stranger to fickle investors. Its stock soared 57 percent from the end of last year through April 9, climbing to more than $636 from $405 as iPhone sales seemed unstoppable. Then it fell for most of April and May, declining to about $530 on Friday, partly because investors are worried that phone companies will grow tired of subsidizing the expensive phones to sell to customers. 

But Monday's gain of $30.90 to $561.28 — its second-biggest climb of the year so far — came after several analysts said they expect its iPhone business to continue to do well. 

The benchmark Dow Jones industrial average rose 135.10 points, or 1.1 percent, to 12,504.48. The S&P 500 rose 20.77 points to 1,315.99, and the Nasdaq jumped 68.42 to 2,847.21. 

That was welcome relief after a month that has been crippled by Greece, which failed to elect a new government two weeks ago and is teetering close to leaving the euro. 

Investors desperate for good news latched on to weekend statements from China's Premier Wen Jiabao, who promised to boost the country's growth, a shift from previous rhetoric that focused mainly on curbing inflation. 

That drumbeat of bad news about Europe continued, but Apple helped investors shrug it off. The weekend's Group of Eight meeting of world leaders brought only an ambiguous conclusion, producing promises to pursue growth in Europe but little in the way of concrete plans for how to do so. 

"I wish I could say the coast is clear," said Katherine Nixon, chief investment officer for Northern Trust's personal financial services unit in Chicago. But, "the G-8 didn't really solve anything." 

Caterpillar, which is heavily reliant on demand from China, climbed nearly 4 percent to $91.98, just its fourth gain in May. Several big-name financial firms, including Bank of America and Morgan Stanley, declined; bank stocks tend to fall when investors are concerned about Europe because of the banks' investments there. JPMorgan Chase, still smarting from an embarrassing trading loss, fell 3 percent to $32.51 after announcing it will halt plans to buy back its own stock. 

Major stock indexes in France and Germany rose, but Greece and Spain fell. 

Monday was the Dow's first gain after six straight days of losses, and only its third up day for May. Last week was the worst for the Dow since November. The month has wiped out nearly three-fourths of the Dow's first-quarter gains. 

It wasn't clear if Monday's gains in the U.S. represented a corner turned or a temporary moment of relief. Tension over Europe still flowed freely. 

Germany's deputy finance minister derided a plan pushed by the new French president that would require Germany and other stronger European countries to fund "Eurobonds" to prop up weaker countries like Greece and Portugal. Bankia, a bank nationalized by the Spanish government, was ordered to come up with more money for possible bad loans. 

If anything, investors are growing more worried that the European debt problems "might not be as manageable as they previously believed," said Clark Yingst, chief market analyst for investment banking firm Joseph Gunnar in New York. "Today's rally has nothing to do with what is evolving around Greece." 

Leaders of the 27 European Union countries will hold an informal meeting in Brussels on Wednesday, though it's unlikely they'll produce any solid game plan before Greece holds elections in June.


----------



## bigdog

Source: http://finance.yahoo.com 

Just how nervous are investors about Greece? All it took to derail a day of stock market gains was a headline saying that the country was preparing to leave the euro, an outcome many analysts expect to happen eventually. 

Major indexes were higher for most of the day after the National Association of Realtors reported that home prices surged 10 percent over the past year, the biggest gain in six years. 

Then, with less than an hour of trading left, news hit that Greece's former prime minister said the country was considering dropping the euro. Investors have been anticipating that Greece could make a messy exit from the euro this year, but the prospect that it could be imminent gave the market a jolt. 

A 50-point gain in the Dow Jones industrial average turned into a 57-point loss in 45 minutes. A last-minute recovery left the Dow down just 1.67 points at 12,502.81. 

In other trading, the Nasdaq composite dropped 8.13 points to 2,839.08. The Standard & Poor's 500 inched up 0.64 of a point to 1,316.63. It was up 12 points earlier in the day. 

Facebook's stock kept sliding, dropping 9 percent to $31. The social networking company has fizzled since its long-awaited initial public offering last week at $38. Facebook sank 11 percent on Monday, even as the rest of the stock market rallied.	

 *The NYSE DOW closed  	LOWER ▼	-1.67	points or ▼	-0.01%	Tuesday, 22 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,502.81	▼	-1.67	▼	-0.01%	
	Nasdaq___	2,839.08	▼	-8.13	▼	-0.29%	
	S&P_500__	1,316.63	▲	0.64	▲	0.05%	
	30_Yr_Bond	2.892	▲	0.10	▲	3.51%	

NYSE Volume	 4,129,135,750 			 		 	
Nasdaq Volume	 1,866,863,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,403.28	▲	98.80	▲	1.86%	
	DAX_____	6,435.60	▲	104.56	▲	1.65%	
	CAC_40__	3,084.09	▲	56.94	▲	1.88%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,173.50	▲	49.10	▲	1.19%	
	Shanghai_Comp	2,373.31	▲	25.01	▲	1.06%	
	Taiwan_Weight	7,274.89	▲	82.66	▲	1.15%	
	Nikkei_225____	8,729.29	▲	95.40	▲	1.10%	
	Hang_Seng____	19,039.15	▲	53.93	▲	0.62%	
	Strait_Times___	2,823.75	▲	33.59	▲	1.20%	
	NZX 50 Index__	3,529.86	▲	36.47	▲	1.04%	

http://finance.yahoo.com/news/slide...1hNDU5LTExZTEtYmU3Ny0zZGMzOGY4NDA4OTA-;_ylv=3

*A late slide erases stock market gains

A warning about Greece preparing to exit the euro punctures early gains on Wall Street*

By Matthew Craft, AP Business Writer 

NEW YORK (AP) -- Just how nervous are investors about Greece? All it took to derail a day of stock market gains was a headline saying that the country was preparing to leave the euro, an outcome many analysts expect to happen eventually. 

Major indexes were higher for most of the day after the National Association of Realtors reported that home prices surged 10 percent over the past year, the biggest gain in six years. 

Then, with less than an hour of trading left, news hit that Greece's former prime minister said the country was considering dropping the euro. Investors have been anticipating that Greece could make a messy exit from the euro this year, but the prospect that it could be imminent gave the market a jolt. 

A 50-point gain in the Dow Jones industrial average turned into a 57-point loss in 45 minutes. A last-minute recovery left the Dow down just 1.67 points at 12,502.81. 

Facebook's stock kept sliding, dropping 9 percent to $31. The social networking company has fizzled since its long-awaited initial public offering last week at $38. Facebook sank 11 percent on Monday, even as the rest of the stock market rallied. 

The realtor group said sales of previously occupied homes rose 3.4 percent last month to an annual rate of 4.62 million, more than economists had predicted. The median price jumped to $177,400, the biggest gain since January 2006, before the real-estate bubble popped. 

"Existing home sales is one of the most important indicators for the housing market," said Dan Greenhaus, chief global strategist at the brokerage BTIG. "The improvement in today's data, while not spectacular, is nonetheless encouraging." 

In other trading, the Nasdaq composite dropped 8.13 points to 2,839.08. The Standard & Poor's 500 inched up 0.64 of a point to 1,316.63. It was up 12 points earlier in the day. 

PulteGroup, Lennar and other homebuilders gained more than 2 percent. S&P's homebuilder index has surged 38 percent this year, versus 4.7 percent for the S&P 500 index. 

In recent years, most analysts considered the housing market a drag on the overall economy. Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi, said Tuesday's report is more proof that housing is no longer an obstacle. It's "not just healing" he said, in a note to clients. Construction has now contributed to economic growth for two straight quarters. 

Leaders of the 27 European Union countries will meet in Brussels on Wednesday. The summit is expected to focus on ways to bolster the region's faltering economy and prevent a deeper financial crisis, though it's unlikely they'll produce any plans before Greece holds elections in June. 

Among stocks making big moves: 

”” Urban Outfitters jumped 7 percent, the best gain in the S&P 500. The retailer posted earnings late Monday that surpassed Wall Street analysts' expectations on record sales. 

”” Benihana soared 21 percent on news that the restaurant group's board agreed to a buyout from the private equity firm Angelo, Gordon & Co. Shareholders still need to sign off on the deal. 

”” Ralph Lauren rose 3 percent. The clothing company's quarterly earnings soared 29 percent, helped by strong sales and a lower tax rate. The company doubled its dividend to 40 cents per share.


----------



## bigdog

Source: http://finance.yahoo.com 

A big final-hour comeback pulled the Dow Jones industrial average nearly back to where it started Wednesday.

The Dow was down as much as 191 points earlier as the threat of a financial crisis spreading from Europe shook markets. The euro dropped to a nearly two-year low against the dollar, and oil prices sank to their lowest this year.

A late surge of buying erased nearly all of the Dow's deficit, leaving it down just 6.66 points at 12,496.15 by the end of the day. Other indexes ended slightly higher.

In the last hour of trading, news crossed that the leaders of France and Italy favored using region-wide bonds to support Europe's economy. That gave traders hope that a summit of European leaders might produce concrete steps to tackle the economic morass there. The Organization for Economic Cooperation and Development warned Tuesday that the 17 countries that use the euro risk falling into a "severe recession."

Analysts and investors have turned increasingly skeptical this month that European leaders will prevent Greece from dropping the euro or agree on ways to jump-start the region's economy. The Dow has lost 5 percent this month, nearly wiping away its gains for the year. It has risen only three days in May.

The Standard & Poor's 500 index rose 2.23 points to 1,318.86. The Nasdaq rose 11.04 points to 2,850.12.	

 *The NYSE DOW closed  	LOWER ▼	-6.66	points or ▼	-0.05%	Wednesday, 23 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,496.15	▼	-6.66	▼	-0.05%	
	Nasdaq___	2,850.12	▲	11.04	▲	0.39%	
	S&P_500__	1,318.86	▲	2.23	▲	0.17%	
	30_Yr_Bond	2.794	▼	-0.10	▼	-3.39%	

NYSE Volume	 4,079,574,500 			 		 	
Nasdaq Volume	 1,928,258,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,266.41	▼	-136.87	▼	-2.53%	
	DAX_____	6,285.75	▼	-149.85	▼	-2.33%	
	CAC_40__	3,003.27	▼	-80.82	▼	-2.62%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,118.80	▼	-54.70	▼	-1.31%	
	Shanghai_Comp	2,363.44	▼	-9.87	▼	-0.42%	
	Taiwan_Weight	7,147.75	▼	-127.14	▼	-1.75%	
	Nikkei_225____	8,556.60	▼	-172.69	▼	-1.98%	
	Hang_Seng____	18,786.19	▲	53.93	▼	-1.33%	
	Strait_Times___	2,786.89	▼	-36.86	▼	-1.31%	
	NZX 50 Index__	3,510.20	▼	-19.66	▲	1.04%	


http://news.yahoo.com/rally-erases-steep-losses-wall-street-201649593--business.html

*Late rally erases steep losses on Wall Street*
By MATTHEW CRAFT and PALLAVI GOGOI

A big final-hour comeback pulled the Dow Jones industrial average nearly back to where it started Wednesday.

The Dow was down as much as 191 points earlier as the threat of a financial crisis spreading from Europe shook markets. The euro dropped to a nearly two-year low against the dollar, and oil prices sank to their lowest this year.

A late surge of buying erased nearly all of the Dow's deficit, leaving it down just 6.66 points at 12,496.15 by the end of the day. Other indexes ended slightly higher.

In the last hour of trading, news crossed that the leaders of France and Italy favored using region-wide bonds to support Europe's economy. That gave traders hope that a summit of European leaders might produce concrete steps to tackle the economic morass there. The Organization for Economic Cooperation and Development warned Tuesday that the 17 countries that use the euro risk falling into a "severe recession."

Analysts and investors have turned increasingly skeptical this month that European leaders will prevent Greece from dropping the euro or agree on ways to jump-start the region's economy. The Dow has lost 5 percent this month, nearly wiping away its gains for the year. It has risen only three days in May.

Plenty of good ideas to buttress Europe's financial system have been floated in recent weeks, said Paul Zemsky, global head of asset allocation at ING Investment Management. Eurobonds could be sold by countries in the currency union to raise money for bailouts and banks. Some have proposed insuring bank deposits across countries that use the euro, a program modeled on the U.S. Federal Deposit Insurance Corp.

"There are all these great ideas," Zemsky said. "But there's nothing yet. There's a lot of talk and no follow through."

Benchmark stock indexes dropped more than 2 percent in Germany and France and 3 percent in Spain and Italy.

The euro continued to fall against the dollar, reaching $1.25, the lowest since July 2010. Concerns about the stability of the European currency union if Greece leaves have knocked 5 percent off the euro this month. Yields on German government bunds fell as money shifted into low-risk investments.

If Greece exits, it could spread havoc throughout the global financial system. Bond traders could dump the bonds of Spain and Italy, sending their borrowing costs even higher. Banks in those countries could also be crippled if people start to yank money out of them, as has begun to happen in Greece.

"There's just a tremendous amount of 'what ifs'," Zemsky said. "If Greece leaves, I know equities are going to be a lot lower than they are today. It's not even close to being priced in yet."

Facebook rebounded 3 percent to $32 after getting pounded for two days following an initial public offering that was plagued with technical problems and has drawn scrutiny from regulators. The stock is still far below its initial price of $38.

The Standard & Poor's 500 index rose 2.23 points to 1,318.86. The Nasdaq rose 11.04 points to 2,850.12.

Benchmark crude lost $1.95 to $89.90 in New York trading. Oil has plunged 15 percent in May as investors predict that the European economy will continue to slow.

The dollar rose and yields on U.S. government debt fell as traders shifted money into the protection of Treasurys. The yield on the 10-year note sank to 1.73 percent, close to a record low, from 1.77 percent late Tuesday.

The dollar and Treasurys often trade in tandem when anxiety hits markets. Traders from around the world sell foreign assets and then need to buy dollars before buying dollar-denominated U.S. Treasurys.

Europe's struggles come at a time when Asia is also slowing. China's economic growth fell to a nearly three-year low of 8.1 percent in the first quarter and factory output in April grew at its slowest pace since the 2008 crisis, raising the threat of job losses and possible political tensions.

A poor earnings report from Dell helped tug down other tech stocks, including Intel and Microsoft. Dell reported disappointing results after the market closed Tuesday and predicted weak sales for its second quarter. Dell dropped 17 percent.

Other stocks making big moves included:

— Google gained 1 percent following news that a federal jury ruled against Oracle in its patent-dispute case against the Internet search giant.

— Ford rose 2 percent, a day after the company won back its blue oval logo, factories and other assets that were pledged as collateral for a massive loan taken out last decade.

— Guess rose 6 percent after its first-quarter results beat Wall Street's expectations, and an analyst recommended that investors buy the stock.


----------



## bigdog

Source: http://finance.yahoo.com 

Hewlett-Packard helped pull the Dow Jones industrial average to a slight gain Thursday, giving the index only its fourth gain this month. 

Stocks flipped between gains and losses throughout the day after a meeting of European leaders failed to deliver new steps to ease the region's debt crisis. 

The Dow closed up 33.60 points at 12,529.75. Fears that Europe's troubles could turn into a worldwide financial crisis have pushed the 30-stock average down 5 percent this month, erasing most of its gains for the year. 

In U.S. trading, the Standard & Poor's 500 index edged up 1.82 to 1,320.68. The Nasdaq composite index fell 10.74 points to 2,839.38. 

U.S economic news gave traders little direction. Orders for long-lasting factory goods edged up in April, but a key category that tracks business investment spending fell for the second month in a row. The number of people applying for unemployment benefits dipped last week. 

The potential for bad news to roil markets is so high that many investors would prefer to sit it out, said Stephen Carl, head equity trader at the Williams Capital Group. 

"Uncertainty is playing a big part here," Carl said. "You don't know which way things are going to go." 

Hewlett-Packard rose 3 percent after the maker of personal computers and printers said it plans to purge 27,000 employees, nearly 8 percent of the company's payroll. H-P expects the layoffs, part of a turnaround program under CEO Meg Whitman, to save $3 billion or more.


 *The NYSE DOW closed  	HIGHER ▲	33.60	points or ▲	0.27%	Thursday, 24 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,529.75	▲	33.60	▲	0.27%	
	Nasdaq___	2,839.38	▼	-10.74	▼	-0.38%	
	S&P_500__	1,320.68	▲	1.82	▲	0.14%	
	30_Yr_Bond	2.847	▲	0.05	▲	1.90%	

NYSE Volume	 3,937,665,500 			 		 	
Nasdaq Volume	 1,757,859,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,350.05	▲	83.64	▲	1.59%	
	DAX_____	6,315.89	▲	30.14	▲	0.48%	
	CAC_40__	3,038.25	▲	34.98	▲	1.16%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,106.20	▼	-12.60	▼	-0.31%	
	Shanghai_Comp	2,350.97	▼	-12.46	▼	-0.53%	
	Taiwan_Weight	7,124.89	▼	-22.86	▼	-0.32%	
	Nikkei_225____	8,563.38	▲	6.78	▲	0.08%	
	Hang_Seng____	18,666.40	▲	53.93	▼	-0.64%	
	Strait_Times___	2,779.53	▼	-0.89	▼	-0.03%	
	NZX 50 Index__	3,496.19	▼	-14.01	▼	-0.40%	

http://finance.yahoo.com/news/h-p-leads-dow-fourth-205601174.html

*H-P leads Dow to its fourth day of gains in May

Stocks eke out small gains; Hewlett-Packard leads Dow Jones industrial average up 34 points*

By Matthew Craft, AP Business Writer

Hewlett-Packard helped pull the Dow Jones industrial average to a slight gain Thursday, giving the index only its fourth gain this month. 

Stocks flipped between gains and losses throughout the day after a meeting of European leaders failed to deliver new steps to ease the region's debt crisis. 

The Dow closed up 33.60 points at 12,529.75. Fears that Europe's troubles could turn into a worldwide financial crisis have pushed the 30-stock average down 5 percent this month, erasing most of its gains for the year. 

U.S economic news gave traders little direction. Orders for long-lasting factory goods edged up in April, but a key category that tracks business investment spending fell for the second month in a row. The number of people applying for unemployment benefits dipped last week. 

The potential for bad news to roil markets is so high that many investors would prefer to sit it out, said Stephen Carl, head equity trader at the Williams Capital Group. 

"Uncertainty is playing a big part here," Carl said. "You don't know which way things are going to go." 

Hewlett-Packard rose 3 percent after the maker of personal computers and printers said it plans to purge 27,000 employees, nearly 8 percent of the company's payroll. H-P expects the layoffs, part of a turnaround program under CEO Meg Whitman, to save $3 billion or more. 

European leaders wrapped up their latest summit Thursday with no new concrete steps to fix the continent's financial crisis, even as worries rise about a messy Greek exit from the euro currency union. 

Markets in Europe recovered from a huge sell-off the day before. Germany's DAX increased 0.5 percent and the CAC-40 in France 1 percent. 

In U.S. trading, the Standard & Poor's 500 index edged up 1.82 to 1,320.68. The Nasdaq composite index fell 10.74 points to 2,839.38. 

Fears that Greece will drop the euro and set off a wider financial crisis have driven traders out of stocks and into the Treasury market this month. The surge in demand for Treasurys has knocked yields to all-time lows. 

As a result, the U.S. federal government has been borrowing from bond markets at ever cheaper rates. The Treasury auctioned off seven-notes Thursday afternoon at 1.20 percent, the lowest rate on record. 

Airline stocks surged. Analysts at JPMorgan Chase expect a drop in jet-fuel prices over the past three months to lift airlines' profits. US Airways Group jumped 11 percent and Delta Air Lines rose 5 percent. Southwest Airlines climbed 5 percent after the company said it plans to offer international flights from Houston's Hobby Airport. 

Among other stocks making big moves: 

”” Tiffany & Co. plunged 7 percent after the luxury retailer cut its 2012 sales forecast, citing slower spending growth in the U.S. and other countries. 

”” Data-storage company NetApp sank 12 percent. NetApp expects much weaker profit in the current quarter as a result of "increasing uncertainty" in the global economy. 

”” Pandora Media surged 12 percent after the online radio provider reported a smaller quarterly loss than analysts had expected. Ad sales and subscriptions soared over the year before. Pandora said it accounted for nearly 6 percent of all radio listening in the U.S..


----------



## bigdog

Source: http://finance.yahoo.com 

More worries about Europe's debt mess send stocks lower ahead of the long Memorial Day holiday weekend.

Another flare-up in Europe's debt crisis knocked U.S. markets lower Friday. This time, it was more trouble at a major Spanish bank. 

Stock indexes were waffling between small gains and losses until news broke in the afternoon that Bankia, a hobbled Spanish lender, asked that country's government for $23.8 billion in support. Earlier in the day, Standard & Poor's cut the bank's credit rating to junk status because of deepening uncertainty over its restructuring plans. 

The Dow Jones industrial average dropped as much as 108 points, then recovered slightly to end down 74.92 points at 12,454.83. Concerns about Europe have sent the Dow on a steady slide this month, erasing most of its gains from the first quarter. It finished the week slightly higher, its first weekly gain for May. 

In other trading, the Standard & Poor's 500 index fell 2.86 points to 1,317.82. The Nasdaq composite fell 1.85 points to 2,837.53. 

The declines were broad. Eight of the 10 industry groups in the Standard & Poor's 500 index fell. The only sectors that rose were utilities and telecommunications, which investors tend to buy when they're skittish about the market. Trading volume was light ahead of the Memorial Day holiday. 

Facebook, marking its one-week anniversary as a public company, fell 3.4 percent to $31.91. Talbots, the women's clothing chain, plunged 41 percent to $1.51 after announcing that a deadline expired without a deal to be bought by a private equity firm. 

 *The NYSE DOW closed  	LOWER ▼	-74.92	points or ▼	-0.60%	Friday, 25 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,454.83	▼	-74.92	▼	-0.60%	
	Nasdaq___	2,837.53	▼	-1.85	▼	-0.07%	
	S&P_500__	1,317.82	▼	-2.86	▼	-0.22%	
	30_Yr_Bond	2.846	▼	0.00	▼	-0.04%	

NYSE Volume	 2,872,655,500 			 		 	
Nasdaq Volume	 1,284,007,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,351.53	▲	1.48	▲	0.03%	
	DAX_____	6,339.94	▲	24.05	▲	0.38%	
	CAC_40__	3,047.94	▲	9.69	▲	0.32%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,081.20	▼	-25.00	▼	-0.61%	
	Shanghai_Comp	2,333.55	▼	-17.42	▼	-0.74%	
	Taiwan_Weight	7,071.63	▼	-53.26	▼	-0.75%	
	Nikkei_225____	8,580.39	▲	17.01	▲	0.20%	
	Hang_Seng____	18,713.41	▲	53.93	▲	0.25%	
	Strait_Times___	2,772.75	▼	-6.78	▼	-0.24%	
	NZX 50 Index__	3,486.23	▼	-9.96	▼	-0.28%	

http://finance.yahoo.com/news/stocks-fall-wall-street-spanish-195627221.html

*Stocks fall on Wall Street as Spanish bank teeters

More worries about Europe's debt mess send stocks lower ahead of the long holiday weekend*

By Christina Rexrode, AP Business Writer

 Another flare-up in Europe's debt crisis knocked U.S. markets lower Friday. This time, it was more trouble at a major Spanish bank. 

Stock indexes were waffling between small gains and losses until news broke in the afternoon that Bankia, a hobbled Spanish lender, asked that country's government for $23.8 billion in support. Earlier in the day, Standard & Poor's cut the bank's credit rating to junk status because of deepening uncertainty over its restructuring plans. 

The Dow Jones industrial average dropped as much as 108 points, then recovered slightly to end down 74.92 points at 12,454.83. Concerns about Europe have sent the Dow on a steady slide this month, erasing most of its gains from the first quarter. It finished the week slightly higher, its first weekly gain for May. 

The declines were broad. Eight of the 10 industry groups in the Standard & Poor's 500 index fell. The only sectors that rose were utilities and telecommunications, which investors tend to buy when they're skittish about the market. Trading volume was light ahead of the Memorial Day holiday. 

Facebook, marking its one-week anniversary as a public company, fell 3.4 percent to $31.91. Talbots, the women's clothing chain, plunged 41 percent to $1.51 after announcing that a deadline expired without a deal to be bought by a private equity firm. 

In addition to the new worries about Spain, the head of Germany's central bank, which has been skeptical of bailing out Greece and other weak European countries, reinforced the point when he said it was an "illusion" to think allowing euro zone countries to borrow money jointly would solve the crisis. 

In Asia, media reports suggested that some of China's biggest banks will miss their annual lending targets for the first time in seven years, and Taiwan lowered its economic growth forecast for the year. Caterpillar, which relies heavily on demand from China, fell 1 percent. 

In other trading, the Standard & Poor's 500 index fell 2.86 points to 1,317.82. The Nasdaq composite fell 1.85 points to 2,837.53. 

Stock indexes in France, Britain, Germany and Spain rose, while Greece's ATHEX plunged 3.5 percent. Borrowing rates edged higher for Spain and Italy. 

Greece's June 17 elections are an overhang on the market. The results will determine if Greece agrees to the spending cuts that it must swallow if it wants to stay in the 17-country euro zone, or if it goes its own way. 

The idea of cutting government spending is unpopular in a country which is in a fifth year of recession and residents have grown accustomed to public-sector largesse. But if Greece left the euro zone, it would have to revert to its own currency. That would be severely devalued, and the country's standard of living would probably be crushed. 

Greece makes up just 2 percent of the euro zone economy, but its fate would carry ripple effects to other, larger members. Unnerved traders could dump the bonds of other struggling European countries, such as Spain and Italy. Residents could start to pull money out of banks there, as has been happening in Greece. 

The standoffs so far have almost always lasted until the 11th hour. 

"Every time you think it's going to fall off a cliff and end very badly, something happens," said Beata Kirr, senior portfolio manager at Bernstein Global Wealth Management in Chicago. "The European Central Bank steps in to buy Italian and Spanish bonds. Or Germany softens its stance on austerity. All of these things have happened when it's past the precipice."

8235


----------



## bigdog

Source: http://finance.yahoo.com 

*Wall Street was closed for the Memorial Day holiday on Monday May 28*

Greek stock markets rebounded strongly on Monday from a 22-year low on hopes a pro-bailout party will win crucial national elections next month, which would avoid a catastrophic rift with international creditors and keep the struggling country within the euro currency union. 

The main stock index in Athens soared to close up 6.9 percent, with the battered bank sector chalking up solid gains. 

Four polls published Sunday reversed previous trends to indicate that conservative New Democracy could come first in the June 17 vote, slightly ahead of the anti-austerity radical left Syriza party. Although the conservatives would still fall short of a governing majority, the surveys suggested they could form a coalition government with socialist PASOK, which have also pledged to stick to Greece's austerity commitments. 

Banks also received a boost Monday: The country's four largest lenders received promised support of â‚¬18 billion ($22.62 billion) to compensate for losses suffered in a massive debt restructuring deal earlier this year. The announcement was made by Greece's Financial Stability Fund after the Athens bourse closed. 

Debt-crippled Greece is being kept afloat by huge international rescue loans, granted on condition of harsh cutbacks and reforms that slashed living standards. 

The austerity, however, also caused huge popular resentment toward New Democracy and PASOK, the two parties that accepted the terms. Voters expressed that anger clearly in May 6 elections, giving a boost to anti-bailout parties. But the election proved inconclusive, with none of the parties able to form a coalition government, leaving Greece to hold another ballot next month. 

Greece's bailout creditors ”” the other countries in the 17-nation eurozone and the International Monetary Fund ”” insist that if the country reneges on its austerity commitments, the rescue loans will stop. 

That would unleash chaos. The government would be unable to pay hospital workers, police and teachers, pensions would dry up, and a potential panic run on bank deposits would destroy the tottering financial system. Eventually, the country could be forced to abandon the eurozone, reverting to a vastly devalued form of its old drachma currency. 

*The NYSE DOW closed  	LOWER ▼	-74.92	points or ▼	-0.60%	FRIDAY 25 May 2012* 
Symbol …........Last ......Change.....[/U]		[/B]			
Dow_Jones	12,454.83	▼	-74.92	▼	-0.60%	
Nasdaq___	2,837.53	▼	-1.85	▼	-0.07%	
S&P_500__	1,317.82	▼	-2.86	▼	-0.22%	
30_Yr_Bond	2.846	▼	0.00	▼	-0.04%	

NYSE Volume	 2,872,655,500 			 		 	
Nasdaq Volume	 1,284,007,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,356.34	▲	4.81	▲	0.09%	
	DAX_____	6,323.19	▼	-16.75	▼	-0.26%	
	CAC_40__	3,042.97	▼	-4.97	▼	-0.16%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,120.20	▲	39.00	▲	0.96%	
	Shanghai_Comp	2,361.37	▲	27.81	▲	1.19%	
	Taiwan_Weight	7,136.00	▲	64.37	▲	0.91%	
	Nikkei_225____	8,593.15	▲	12.76	▲	0.15%	
	Hang_Seng____	18,800.99	▲	53.93	▲	0.47%	
	Strait_Times___	2,787.22	▲	14.47	▲	0.52%	
	NZX 50 Index__	3,462.25	▼	-23.98	▼	-0.69%	

http://finance.yahoo.com/news/greek-stocks-soar-pro-bailout-120819514.html

*Greek stocks soar on pro-bailout party's poll gain

Greek stocks rebound after new polls predict pro-bailout party winning crucial June 17 vote*

ATHENS, Greece (AP) -- Greek stock markets rebounded strongly on Monday from a 22-year low on hopes a pro-bailout party will win crucial national elections next month, which would avoid a catastrophic rift with international creditors and keep the struggling country within the euro currency union. 

The main stock index in Athens soared to close up 6.9 percent, with the battered bank sector chalking up solid gains. 

Four polls published Sunday reversed previous trends to indicate that conservative New Democracy could come first in the June 17 vote, slightly ahead of the anti-austerity radical left Syriza party. Although the conservatives would still fall short of a governing majority, the surveys suggested they could form a coalition government with socialist PASOK, which have also pledged to stick to Greece's austerity commitments. 

Banks also received a boost Monday: The country's four largest lenders received promised support of â‚¬18 billion ($22.62 billion) to compensate for losses suffered in a massive debt restructuring deal earlier this year. The announcement was made by Greece's Financial Stability Fund after the Athens bourse closed. 

Debt-crippled Greece is being kept afloat by huge international rescue loans, granted on condition of harsh cutbacks and reforms that slashed living standards. 

The austerity, however, also caused huge popular resentment toward New Democracy and PASOK, the two parties that accepted the terms. Voters expressed that anger clearly in May 6 elections, giving a boost to anti-bailout parties. But the election proved inconclusive, with none of the parties able to form a coalition government, leaving Greece to hold another ballot next month. 

Greece's bailout creditors ”” the other countries in the 17-nation eurozone and the International Monetary Fund ”” insist that if the country reneges on its austerity commitments, the rescue loans will stop. 

That would unleash chaos. The government would be unable to pay hospital workers, police and teachers, pensions would dry up, and a potential panic run on bank deposits would destroy the tottering financial system. Eventually, the country could be forced to abandon the eurozone, reverting to a vastly devalued form of its old drachma currency. 

Fears of such an outcome have battered Greek financial markets for weeks, pushing the Athens General Index to close at a 22-year low of 485.18 points on Friday. The latest polls, however, helped it claw back some of those losses, rising to 518.49 points. 

"This is clearly due to the polls," said Sergios Melahrinos, analyst at Solidus Securities. 

He noted that if the two pro-bailout parties manage to win the election and have Greece honor its austerity commitments, banks would gain access to rescue money needed to avoid collapse. Under the country's latest international bailout, domestic banks that took huge losses from a bond swap that more than halved Greece's privately-held debt will receive billions of euros to boost their capitalization. If a new government in Athens unilaterally tears up the bailout deal ”” as Syriza has threatened to do ”” the recapitalization would fall through. 

"A potential win by the parties that back their recapitalization would be extremely good for lenders." 

But Melahrinos warned that the market would remain vulnerable to the ups and downs in the polls in the leadup to the elections. "New polls that show a reversal would obviously change the market picture." 

Sunday's surveys gave New Democracy a lead over Syriza ranging from 0.5 to 5.7 percent, with PASOK coming third. The polls also estimated that the two pro-bailout parties would gain a combined 159 to 165 seats in the 300-member parliament, up from 149 after the May 6 vote. 

One survey in To Vima newspaper found that 65 percent want Greece to remain in the eurozone even if it has to implement the bailout agreement as it stands, while 24 percent said they would prefer to exit the euro rather than implement austerity policies. 

Since the beginning of 2010, Greeks have suffered repeated income cuts and tax hikes, while unemployment has hit record levels with more than one in five workers jobless after tens of thousands of businesses closed. The country is in a fifth year of deep recession, and continues to import about twice as much as it exports.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market is desperately looking for good news. 

On Tuesday, oil prices fell, the euro sank to a 22-month low, and the yield on the U.S. government's 10-year Treasury note fell near a historic low after a report suggested that Spain will have more trouble repaying its debts. 

But stocks rose anyway. In fact, they had one of their best days in an otherwise dreary month. Investors focused on hopes that China is poised to rev up its economic growth machine and that upcoming elections in Greece will help the country stay in the euro. 

"The overriding news isn't that great," said Robert Pavlik, chief market strategist at investment advisors Banyan Partners. "But Greece and China are taking the pressure off the market in the short term." 

Gains in industrial stocks that depend heavily on the Chinese economy, like Caterpillar and Alcoa, helped push the Dow Jones industrial average up 125.86 points. The Dow closed at 12,580.69, up 1 percent. 

China is the largest market for aluminum, which Alcoa makes, and Caterpillar recently said it is aggressively courting China to sell its construction equipment. Both stocks gained 3 percent. 

It was only the fifth gain for the Dow this month. The index is down 4.8 percent for May and is headed for its first monthly loss since September. The main culprits behind the decline have been the increasing likelihood that Greece will drop out of the euro currency and a worsening of Spain's financial condition. 		

 *The NYSE DOW closed  	HIGHER ▲	125.86	points or ▲	1.01%	Tuesday, 29 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,580.69	▲	125.86	▲	1.01%	
	Nasdaq___	2,870.99	▲	33.46	▲	1.18%	
	S&P_500__	1,332.42	▲	14.60	▲	1.11%	
	30_Yr_Bond	2.842	▼	0.00	▼	-0.14%	

NYSE Volume	 3,441,646,500 			 		 	
Nasdaq Volume	 1,670,854,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,391.14	▲	34.80	▲	0.65%	
	DAX_____	6,396.84	▲	73.65	▲	1.16%	
	CAC_40__	3,084.70	▲	41.73	▲	1.37%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,168.20	▲	48.00	▲	1.16%	
	Shanghai_Comp	2,389.64	▲	28.27	▲	1.20%	
	Taiwan_Weight	7,342.29	▲	206.29	▲	2.89%	
	Nikkei_225____	8,657.08	▲	63.93	▲	0.74%	
	Hang_Seng____	19,055.46	▲	53.93	▲	1.35%	
	Strait_Times___	2,801.85	▲	14.63	▲	0.52%	
	NZX 50 Index__	3,478.29	▲	16.04	▲	0.46%	

http://finance.yahoo.com/news/rare-...1hOWQwLTExZTEtOWI5Zi1hMGVkZDg3ZmE3NTA-;_ylv=3

*A rare gain for the Dow on hopes for China growth

Dow Jones industrial average posts a rare gain of nearly 125; Facebook flops again*

By Pallavi Gogoi, AP Business Writer

The stock market is desperately looking for good news. 

On Tuesday, oil prices fell, the euro sank to a 22-month low, and the yield on the U.S. government's 10-year Treasury note fell near a historic low after a report suggested that Spain will have more trouble repaying its debts. 

But stocks rose anyway. In fact, they had one of their best days in an otherwise dreary month. Investors focused on hopes that China is poised to rev up its economic growth machine and that upcoming elections in Greece will help the country stay in the euro. 

"The overriding news isn't that great," said Robert Pavlik, chief market strategist at investment advisors Banyan Partners. "But Greece and China are taking the pressure off the market in the short term." 

Gains in industrial stocks that depend heavily on the Chinese economy, like Caterpillar and Alcoa, helped push the Dow Jones industrial average up 125.86 points. The Dow closed at 12,580.69, up 1 percent. 

China is the largest market for aluminum, which Alcoa makes, and Caterpillar recently said it is aggressively courting China to sell its construction equipment. Both stocks gained 3 percent. 

It was only the fifth gain for the Dow this month. The index is down 4.8 percent for May and is headed for its first monthly loss since September. The main culprits behind the decline have been the increasing likelihood that Greece will drop out of the euro currency and a worsening of Spain's financial condition. 

Facebook plunged 10 percent to $28.84, shaving $25 billion off from the company's market value in its first seven days of trading. The glitch-plagued IPO has drawn scrutiny from regulators and ire from disgruntled investors who had trouble executing trades. 

Blackberry maker Research in Motion plunged 11 percent in after-hours trading to $10 after the company said it expects to post a loss in its first quarter amid tough competition in the smartphone business. 

The Standard & Poor's 500 index closed up 14.60 points at 1,332.42, and the Nasdaq composite added 33.46 points to 2,870.99. 

U.S. markets were closed Monday for Memorial Day. 

Oil prices fell below $91 after ratings agency Egan Jones downgraded Spain's debt Tuesday. Crude oil prices have been dropping steadily from $106 four weeks ago amid signs of slowing global growth. 

Analysts have been concerned that Spain and other weak European economies could drag the European Union into recession this year. It would lead to lower demand from Europe, a region that consumes 16 percent of the world's oil. It also could harm trading partners like the U.S. and China and slow down global demand for oil. 

The same worries flagged in the report sent the euro to $1.246, its lowest point against the dollar since July 2010. Investors fled to the safety of U.S. government bonds, sending the yield on benchmark 10-year Treasury note as low as 1.71 percent, near an all-time low. 

Stock investors on Tuesday appeared relieved with news from Greece that a party in favor of abiding by the terms of the country's financial rescue could win in national elections next month. That could avoid a catastrophic rift with Greece's international creditors and keep the struggling country within the euro zone. 

There was also some positive news from the beleaguered U.S. housing market. The Standard & Poor's/Case-Shiller report found that home prices increased in 12 of the 20 cities it tracks. The increase in March from the month before was the first in seven months. It was the latest evidence of a slow recovery taking shape in the troubled housing market. 

In Europe, concerns that Spain's ailing banking sector might worsen the European debt crisis sent the Spanish stock market to nine-year lows. Other European markets rose. 

Spain's banks are sitting on huge amounts of soured investments in the country's imploded real estate market. That has led to the recent nationalization of Bankia, the country's fourth-largest lender. Bankia revealed last week that it needs far more money in state aid than previously expected, $23.8 billion. 

Madrid's Ibex index fell 2.3 percent and Bankia dropped another 13.6 percent. 

Other stocks that were making big moves: 

”” Interline Brands shot up 40 percent after the maintenance company said it is being acquired by a pair of private equity groups for about $811 million. 

”” Patriot Coal rose 6 percent after the company said its CEO is leaving the company. Last week Patriot announced that it is working with private equity firm The Blackstone Group after there were concerns that the mining company could run short on cash. 

”” ConocoPhillips rose over 2 percent after a Citi analyst said the company is likely to pay hefty dividends this year thanks to asset sales that generated higher returns than analysts expected.


----------



## bigdog

Source: http://finance.yahoo.com 

Fearing a financial rupture in Europe, investors around the world fled from risk Wednesday. They punished stocks and the euro, and the yield on a benchmark U.S. bond hit its lowest point since World War II. 

In the United States, where concerns about Europe have already wiped out most of this year's gains for stocks, major averages fell more than 1 percent. The Dow Jones industrial average closed down 161 points. 

With Spain's banking system teetering and Greece's political future unclear ahead of crucial elections next month, European stocks lost even more. The euro dropped below $1.24, to its lowest point since the summer of 2010. 

"Everyone's just afraid that if Europe doesn't get its act together, there will be a big spillover in the U.S.," said Peter Tchir, manager of the hedge fund TF Market Advisors. 

He said the uncertainty over Europe's future was reminiscent of the financial crisis in the fall of 2008, when it was briefly unclear whether banks would be bailed out and "we had these giant swings up and down." 

Wall Street, which woke up to increased anxiety over higher Spanish borrowing rates, was down from the opening bell. 

The Dow closed down 160.83 points, or 1.3 percent, at 12,419.86. The Dow has had a miserable May, losing more than 6 percent, and is on track for its first losing month since September. 

The Standard & Poor's 500 index lost 19.10 points to 1,313.32. The Nasdaq composite index fell 33.63 to 2,837.36. Energy stocks were hit hardest because of a big drop in the price of oil, but stocks in all major industries fell. 

 *The NYSE DOW closed  	LOWER ▼	-160.83	points or ▼	-1.28%	Wednesday, 30 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,419.86	▼	-160.83	▼	-1.28%	
	Nasdaq___	2,837.36	▼	-33.63	▼	-1.17%	
	S&P_500__	1,313.32	▼	-19.10	▼	-1.43%	
	30_Yr_Bond	2.718	▼	-0.12	▼	-4.36%	

NYSE Volume	 3,534,310,750 			 		 	
Nasdaq Volume	 1,738,806,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,297.28	▼	-93.86	▼	-1.74%	
	DAX_____	6,280.80	▼	-116.04	▼	-1.81%	
	CAC_40__	3,015.58	▼	-69.12	▼	-2.24%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,148.70	▼	-19.50	▼	-0.47%	
	Shanghai_Comp	2,384.67	▼	-4.97	▼	-0.21%	
	Taiwan_Weight	7,261.80	▼	-80.49	▼	-1.10%	
	Nikkei_225____	8,633.19	▼	-23.89	▼	-0.28%	
	Hang_Seng____	18,690.22	▲	53.93	▼	-1.92%	
	Strait_Times___	2,788.49	▼	-13.36	▼	-0.48%	
	NZX 50 Index__	3,481.34	▲	3.05	▲	0.09%	

http://finance.yahoo.com/news/europe-worries-stalk-wall-street-202500134.html

*Europe worries stalk Wall Street; Dow loses 161

Stocks lose big as Europe worries stalk Wall Street; 10-year Treasury yield at postwar low*

By Daniel Wagner, AP Business Writer 

Fearing a financial rupture in Europe, investors around the world fled from risk Wednesday. They punished stocks and the euro, and the yield on a benchmark U.S. bond hit its lowest point since World War II. 

In the United States, where concerns about Europe have already wiped out most of this year's gains for stocks, major averages fell more than 1 percent. The Dow Jones industrial average closed down 161 points. 

With Spain's banking system teetering and Greece's political future unclear ahead of crucial elections next month, European stocks lost even more. The euro dropped below $1.24, to its lowest point since the summer of 2010. 

"Everyone's just afraid that if Europe doesn't get its act together, there will be a big spillover in the U.S.," said Peter Tchir, manager of the hedge fund TF Market Advisors. 

He said the uncertainty over Europe's future was reminiscent of the financial crisis in the fall of 2008, when it was briefly unclear whether banks would be bailed out and "we had these giant swings up and down." 

Wall Street, which woke up to increased anxiety over higher Spanish borrowing rates, was down from the opening bell. 

The Dow closed down 160.83 points, or 1.3 percent, at 12,419.86. The Dow has had a miserable May, losing more than 6 percent, and is on track for its first losing month since September. 

The Standard & Poor's 500 index lost 19.10 points to 1,313.32. The Nasdaq composite index fell 33.63 to 2,837.36. Energy stocks were hit hardest because of a big drop in the price of oil, but stocks in all major industries fell. 

The trigger for Wednesday's sell-off was Spain, where the banking system is under strain a week after its fourth-largest bank required $23.8 billion in government aid to cover souring real estate loans. 

Investors are increasingly worried that problems at the bank, Bankia, might recur at other Spanish banks. Many lent heavily during the nation's real estate bubble. Losses from the real estate crash might be too big for Spain's government to shoulder. 

Spain has enacted harsh government spending cuts to bring its budget deficit within strict new European guidelines. But the country is in a recession, has 25 percent unemployment and might need a bailout, like Greece, Ireland and Portugal. 

On Wednesday, borrowing rates rose sharply for Spain and Italy, which are seen as the next problem cases in a debt crisis that has rocked global markets for more than two years. Traders dumped bonds issued by those governments. 

The yield on Spain's 10-year bonds, a key indicator of market confidence in the country's ability to pay down its debt, shot as high as 6.69 percent, the highest since the euro currency was launched in 2002. 

Intense demand for low-risk, easily tradable securities led investors to buy U.S. government debt. The yield on the 10-year Treasury note plunged to 1.61 percent from 1.74 percent late Tuesday. 

Wednesday's yield appeared to be the lowest since 1945, said Bill O'Donnell, head of U.S. Treasury strategy at the Royal Bank of Scotland, citing data from the European Central Bank and other sources. 

Federal Reserve daily records only go back to 1962, and those reflect a previous record of 1.70 percent, set May 17. 

"There's just a massive flight to safe-haven assets today," O'Donnell said. 

He characterized the rush into U.S. bonds by citing a well-known, unsavory analogy made by Richard Fisher, the head of the Federal Reserve's Dallas bank: "The U.S. is the prettiest horse in the glue factory." 

Yields on German government bonds, also seen as safe, turned lower. 

Concern about Europe lurked around every corner: The European Commission said consumer confidence fell sharply across the region last month. Spaniards withdrew money from their banks, spreading fear about the Spanish government's ability to go on without itself being bailed out. Spain's main stock index closed down 2.6 percent. 

An opinion poll in Greece showed that the far-left Syriza party is gaining support ahead of elections June 17. Syriza opposes the system of bailouts and sharp budget cuts that have kept Greece afloat but also gutted its economy. 

If the party wins, Greece may be forced to exit the euro currency. The shock waves could reach nations that have received bailouts, like Portugal, and those that might need them, like Italy. 

Until the Greek elections next month, things will be too uncertain for the U.S. market to sustain a meaningful rally, said David Kelly, chief market strategist at J.P. Morgan Funds. 

If Greece's leaders allow the bailouts to continue and European governments start spending to spur growth, Kelly expects the market eventually to rise. If Syriza wins and Greece is expelled from the euro, he expects a volatile market for months. 

Amid the tumult, Europe's executive branch called on the 17 countries that use the currency to create a "banking union" that can centrally oversee and, if needed, bail out national banks. 

If Europe's financial crisis plunges it into a deep recession, global economic growth will likely falter, reducing demand for commodities and machines that power growth. 

Fearing that outcome, traders pushed the stocks of heavy equipment maker Caterpillar and aluminum company Alcoa to among the biggest declines of the 30 companies that make up the Dow. 

The euro fell as low as $1.2360, the lowest since the summer of 2010. Benchmark stock indexes closed down 2.2 percent in France, 1.8 percent in Italy and Germany. 

When banks and big investors get frightened, they sell stocks or bonds and park the money in the safest government debt markets. They buy Japanese yen, German bonds and especially U.S. Treasurys. 

Such purchases are not about turning a profit, said O'Donnell of RBS. That's why German government two-year notes are paying zero percent: People are simply handing their money over for safekeeping. 

The U.S. Treasury market is still considered one of the safest places in the world to stash billions in a hurry. At $11 trillion, no other market is as large, so there's always somebody ready to buy or sell them. 

"When people just want to get their money back, there's not a lot of competition," O'Donnell said. 

Food and energy commodities fell sharply. Crude oil lost more than $3 to below $88 a barrel. Crude has been falling steadily since the beginning of May, when it traded as high as $106 a barrel. 

Kelly, of J.P. Morgan Funds, said investors should remember that the U.S. is on firmer economic footing than Europe, and make sure their portfolios could withstand either possible outcome.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks close lower, capping a dismal May; worst monthly point loss for Dow since May 2010

They sold in May and went away, all right. 

With a disappointing finish on Thursday, the stock market closed what was by some measures its worst month in two years. Over five dismal weeks, Facebook fizzled, a debt crisis in Europe loomed, and nobody was in the mood to buy. 

When May was mercifully over, the Dow Jones industrial average and other major indexes had erased most of the strong gains they built up through March and held on to in April. 

"The sentiment has changed," said Craig Callahan, co-founder and president of ICON Advisers in Denver. "Any time the market dips like this, it erodes some confidence. It scares people out of the market. All of the above, May has done that." 

The Wall Street adage that investors should "sell in May and go away" may not be sound strategy all the time — many financial advisers say it's foolish — but this year it looked like good advice. 

The Dow lost 820 points for the month, its worst showing since May 2010. That month, investors were spooked by a one-day "flash crash" in stocks when a large trade overwhelmed computer servers. 

This May, stocks limped to the finish. The Dow closed down 26.41 points on Thursday to end the month at 12,393.45. It declined on all but five of 22 trading sessions. 

The Standard & Poor's 500 index dropped 2.99 points to close at 1,310.33. It fell 6.3 percent in May, its worst month since September. The Nasdaq composite index fell 10.02 points to 2,827.34, and had its worst month in two years. 	

 *The NYSE DOW closed  	LOWER ▼	-26.41	points or ▼	-0.21%	Thursday, 31 May 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,393.45	▼	-26.41	▼	-0.21%	
	Nasdaq___	2,827.34	▼	-10.02	▼	-0.35%	
	S&P_500__	1,310.33	▼	-2.99	▼	-0.23%	
	30_Yr_Bond	2.672	▼	-0.05	▼	-1.69%	

NYSE Volume	 4,557,619,500 			 		 	
Nasdaq Volume	 2,268,248,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,306.95	▲	9.67	▲	0.18%	
	DAX_____	6,264.38	▼	-16.42	▼	-0.26%	
	CAC_40__	3,017.01	▲	1.43	▲	0.05%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,133.70	▼	-15.00	▼	-0.36%	
	Shanghai_Comp	2,372.23	▼	-12.43	▼	-0.52%	
	Taiwan_Weight	7,301.50	▲	39.70	▲	0.55%	
	Nikkei_225____	8,542.73	▼	-90.46	▼	-1.05%	
	Hang_Seng____	18,638.41	▲	53.93	▼	-0.28%	
	Strait_Times___	2,772.54	▼	-11.41	▼	-0.41%	
	NZX 50 Index__	3,488.29	▲	6.94	▲	0.20%	

http://finance.yahoo.com/news/sell-may-away-stocks-close-205217541.html

*Sell in May and go away: Stocks close dismal month

Stocks close lower, capping a dismal May; worst monthly point loss for Dow since May 2010*

By Christina Rexrode, AP Business Writer

They sold in May and went away, all right. 

With a disappointing finish on Thursday, the stock market closed what was by some measures its worst month in two years. Over five dismal weeks, Facebook fizzled, a debt crisis in Europe loomed, and nobody was in the mood to buy. 

When May was mercifully over, the Dow Jones industrial average and other major indexes had erased most of the strong gains they built up through March and held on to in April. 

"The sentiment has changed," said Craig Callahan, co-founder and president of ICON Advisers in Denver. "Any time the market dips like this, it erodes some confidence. It scares people out of the market. All of the above, May has done that." 

The Wall Street adage that investors should "sell in May and go away" may not be sound strategy all the time — many financial advisers say it's foolish — but this year it looked like good advice. 

The Dow lost 820 points for the month, its worst showing since May 2010. That month, investors were spooked by a one-day "flash crash" in stocks when a large trade overwhelmed computer servers. 

This May, stocks limped to the finish. The Dow closed down 26.41 points on Thursday to end the month at 12,393.45. It declined on all but five of 22 trading sessions. 

The Standard & Poor's 500 index dropped 2.99 points to close at 1,310.33. It fell 6.3 percent in May, its worst month since September. The Nasdaq composite index fell 10.02 points to 2,827.34, and had its worst month in two years. 

On Thursday, investors latched on to a sliver of good news in the morning: May sales from retailers like Target and Macy's looked healthy, and sent stock futures higher. 

Then the government offered two unpleasant pieces of economic data. The number of people applying for unemployment benefits rose to a five-week high, and economic growth from January through March was slower than first thought. 

Underscoring the crisis in Europe, the head of the European Central Bank, Mario Draghi, told European leaders that the setup of the 17-country euro currency union was unsustainable "unless further steps are taken." 

The Dow was down as much as 103 points and up as much as 70 before ending slightly lower. Energy companies were the worst performers for the day and the month. The price of oil, which ended April at almost $105, ended May at $86.53. 

Worried about Europe and the weaker readings on the U.S. economy, investors continued a stampede Thursday into U.S. government bonds, which they see as a safer place to put their money. 

The yield on the benchmark 10-year U.S. Treasury note tumbled to its lowest level on record, 1.54 percent. The yield rose later in the day to 1.57 percent. It was 1.62 percent on Wednesday. 

The 10-year Treasury yield was 1.55 percent in November 1945, after the end of World War II, when government price controls kept interest rates down to preserve financial stability. 

In the stock market, the "sell in May" strategy posits that investors can make more money by sitting out the summer and early fall, when prices tend to languish. 

The math is compelling. From 1926 through last year, the S&P 500 rose an average 4.3 percent in the six months of May through October, versus 7.1 percent in November through April. 

The problem, critics point out, is that stocks move widely above and below their averages from year to year. 

One researcher, Larry Swedroe of Buckingham Asset Management, found that "sell in May" beat an ordinary strategy of buying and holding stocks if you started investing in 1960, 1970 and 2000, but not if you started in 1950, 1980 or 1990. 

But this time, at least, it would have worked. Investors who bought stocks exactly according to the Dow last Nov. 1 and sold them on April 30 would have gained 13 percent. Investors who held on through May would have seen those gains cut in half. 

For the calendar year, the limp May left the Dow up 1.4 percent, the S&P up 4.2 percent and the Nasdaq up 8.5 percent. Two months ago, all three indexes were up more than twice as much. 

The month's most spectacular market blunder was Facebook, which debuted on the Nasdaq exchange May 18 at $38 a share. By Thursday's close it had fallen more than $8 from there. 

The stock's first day was complicated by technical problems at the Nasdaq, and questions later emerged about whether Morgan Stanley, which helped take the company public, had offered some clients better information about the stock. 

JPMorgan Chase stock lost 23 percent of its value during the month after the bank disclosed a surprise trading loss of $2 billion or more — a black eye for CEO Jamie Dimon, who has built a reputation as a master of risk management. 

Then there was Europe. Troubles in Greece dominated headlines for much of the month, but Spain has been the market's albatross this week. It will have to spend almost $24 billion to bail out one of its biggest banks. 

There is still no agreement over how to solve the crisis: Stronger countries like Germany want governments to cut spending, but voters in weaker countries like Greece have shown they are in no mood for more fiscal pain. 

On Thursday, the European Union demanded that Spain provide more details about how it plans to finance the overhaul of its banking sector. 

Spain's key stock market index was flat, while Greece rose nearly 3 percent. Borrowing rates for Spain fell somewhat, suggesting investors were feeling a little better about that country's finances. 

"Greece is a failed chemistry experiment," said Michael Strauss, chief investment strategist at the Commonfund investment firm in Connecticut. "But we are more worried about Spain because of its size and the scope." 

Strauss said he advised clients to take money out of stocks in early spring, when the S&P was above 1,400, or about 90 points higher than where it closed Thursday. 

Strauss expects the index to return to 1,385 before the year is over, though he cautioned those gains might not last. 

May's results are a familiar template. In both 2010 and 2011, the market rose for several months before falling in May because of concerns about debt in Europe. 

Linda Duessel, market strategist at Federated Investors in Pittsburgh, argued that this May's declines were only natural after the run-up at the beginning of the year. 

"After you get a good run, you get a correction," Duessel said. "Corrections are a very normal part of the cycle."


----------



## bigdog

Source: http://finance.yahoo.com 

Dismal job market pushes Dow into 275-point plunge

US stocks nose-dive after dismal jobs report; Dow industrials turn negative for the year

The Dow closed down 274.88 points, or 2.2 percent, at 12,118.57. The Dow is off 0.8 percent for the year; two months ago, it was up more than 8 percent for the year. 

The Standard & Poor's 500 index fell 32.29 points, or 2.5 percent, to 1,278.04. The Nasdaq dropped 79.86, or 2.8 percent, to 2,747.48. Both indexes are still up for the year ”” 1.6 percent for the S&P 500 and 5.5 percent for the Nasdaq. 

The stock market suffered its worst day of the year Friday after a surprisingly weak report about hiring and employment cast a pall of gloom over the U.S. economy. The Dow Jones industrial average plunged 275 points. 

Traders stampeded into the safety of bonds, pushing the yield on the benchmark 10-year Treasury note to a record low. Fearful investors bought gold, causing the price to spike nearly $60 an ounce, and concern about a global economic slowdown drove the price of oil to its lowest since October. 

"The big worry now is that this economic slowdown is widening and accelerating," said Sam Stovall, chief equity strategist at S&P Capital IQ, a market research firm. 

It was the Dow's steepest one-day drop since November. 

The Standard & Poor's 500 index and Nasdaq composite index both fell more than 3 percent. The Nasdaq has dropped more than 10 percent since its peak ”” what traders call a market correction. The S&P 500 is just a point above correction territory. 

American employers added just 69,000 jobs in May, the fewest in a year, and the unemployment rate increased to 8.2 percent from 8.1 percent. Economists had forecast a gain of 158,000 jobs. 

The report, considered the most important economic indicator each month, also said that hiring in March and April was considerably weaker than originally thought. 

 *The NYSE DOW closed  	LOWER ▼	-274.88	points or ▼	-2.22%	Friday, 1 June 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,118.57	▼	-274.88	▼	-2.22%	
	Nasdaq____	2,747.48	▼	-79.86	▼	-2.82%	
	S&P_500__	1,278.04	▼	-32.29	▼	-2.46%	
	30_Yr_Bond	2.540	▼	-0.13	▼	-4.94%	

NYSE Volume	 4,606,099,500 			 		 	
Nasdaq Volume	 1,978,203,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,260.19	▼	-60.67	▼	-1.14%	
	DAX_____	6,050.29	▼	-214.09	▼	-3.42%	
	CAC_40__	2,950.47	▼	-66.54	▼	-2.21%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,116.90	▼	-16.80	▼	-0.41%	
	Shanghai_Comp	2,373.44	▲	1.20	▲	0.05%	
	Taiwan_Weight	7,106.09	▼	-195.41	▼	-2.68%	
	Nikkei_225____	8,440.25	▼	-102.48	▼	-1.20%	
	Hang_Seng____	18,558.34	▲	53.93	▼	-0.38%	
	Strait_Times___	2,745.71	▼	-26.83	▼	-0.97%	
	NZX 50 Index__	3,452.00	▼	-36.29	▼	-1.04%	

http://finance.yahoo.com/news/dismal-job-market-pushes-dow-201501885.html

*Dismal job market pushes Dow into 275-point plunge

US stocks nose-dive after dismal jobs report; Dow industrials turn negative for the year*

By Daniel Wagner, AP Business Writer



The stock market suffered its worst day of the year Friday after a surprisingly weak report about hiring and employment cast a pall of gloom over the U.S. economy. The Dow Jones industrial average plunged 275 points. 

Traders stampeded into the safety of bonds, pushing the yield on the benchmark 10-year Treasury note to a record low. Fearful investors bought gold, causing the price to spike nearly $60 an ounce, and concern about a global economic slowdown drove the price of oil to its lowest since October. 

"The big worry now is that this economic slowdown is widening and accelerating," said Sam Stovall, chief equity strategist at S&P Capital IQ, a market research firm. 

It was the Dow's steepest one-day drop since November. 

The Standard & Poor's 500 index and Nasdaq composite index both fell more than 3 percent. The Nasdaq has dropped more than 10 percent since its peak ”” what traders call a market correction. The S&P 500 is just a point above correction territory. 

American employers added just 69,000 jobs in May, the fewest in a year, and the unemployment rate increased to 8.2 percent from 8.1 percent. Economists had forecast a gain of 158,000 jobs. 

The report, considered the most important economic indicator each month, also said that hiring in March and April was considerably weaker than originally thought. 

Earlier data showed weak economic conditions in Europe and Asia, too. Unemployment in the 17 countries that use the euro currency stayed at a record-high 11 percent in April, and unemployment spiked to almost 25 percent in Spain. 

There were signs that growth in China, which helped sustain the global economy through the recession, is slowing significantly. China's manufacturing weakened in May, according to surveys released Friday. 

The Dow closed down 274.88 points, or 2.2 percent, at 12,118.57. The Dow is off 0.8 percent for the year; two months ago, it was up more than 8 percent for the year. 

The Standard & Poor's 500 index fell 32.29 points, or 2.5 percent, to 1,278.04. The Nasdaq dropped 79.86, or 2.8 percent, to 2,747.48. Both indexes are still up for the year ”” 1.6 percent for the S&P 500 and 5.5 percent for the Nasdaq. 

Traders sold all types of risky investments and rushed to the safety of U.S. government bonds and gold. Bond prices rose sharply, briefly pushing the yield on the benchmark 10-year U.S. Treasury note down to 1.44 percent, the lowest on record. The yield ended the day at 1.46 percent. 

Gold for August delivery climbed $57.90, nearly 4 percent, to $1,622.10 per ounce. 

"Everybody's looking for a safe haven," said Adam Patti, CEO of IndexIQ, an asset management firm. He's skeptical of that strategy, believing the swing was driven by short-term traders "looking to flip in and out of things," rather than long-term investors willing to ride out a few bumps in the market. 

May was the worst month for the stock market in two years by some measures. Investors' worries about Europe's debt crisis intensified as the month wore on. Greece's political future is uncertain, and it appears increasingly likely to stop using the euro currency. That could rattle financial markets and make Greece's economy ”” already hobbled ”” even weaker. 

Friday's jobs report drew traders' attention back to the weakening U.S. economy, said Todd Salamone, director of research for Schaeffer's Investment Research in Cincinnati. 

"The weaker jobs report translates into anticipation of slower growth ahead and weaker corporate earnings, and that ratchets stock prices lower," Salamone said. 

The record-low yield on the 10-year Treasury note reflected rapid buying by traders with the biggest portfolios, including central banks, endowments and pension funds, said Ira Jersey, U.S. interest rate strategist at Credit Suisse. He said money managers were selling investments priced in euros and stashing their money in U.S. securities. 

Several analysts raised the possibility that the weakening economy will prompt more action by governments and central banks seeking to juice global economic activity. Anticipation of some policy response prevented even deeper losses, Stovall said. 

The Federal Reserve undertook programs in 2009 and 2010 to buy U.S. government bonds. Its goal was to lower interest rates and encourage people to buy riskier investments like stocks. At least in public, the central bank so far has resisted a third round of purchases, known as quantitative easing. 

Anticipation of bond-buying by the Fed "might put in a little bit of a floor to the market, but the overall economic picture is still bad," said Bob Gelfond, CEO of MQS Asset Management, a New York hedge fund. 

The dollar fell partly because traders expect more intervention by the Federal Reserve, Gelfond said. 

The euro rose half a penny against the dollar to above $1.24. A day earlier, fears about Europe's finances had pushed the euro to a nearly two-year low against the dollar. 

Only 17 of the 500 companies in the S&P index were higher for the day. 

Homebuilder stocks fell the most, despite a report that construction spending rose for a second month in April. PulteGroup fell 11.8 percent, D.R. Horton 8.4 percent and Lennar 8.3 percent. 

Boeing, the biggest U.S. exporter, fell 3.4 percent, one of the biggest declines among the 30 companies that make up the Dow. Traders fear that the economic slowdown will hurt global demand for its airplanes and defense technologies. 

A slower global economy would reduce demand for energy. The price of a barrel of oil fell $3.49 to $83.04, extending a monthlong slide. The price of oil is at a 16-month low. 

Stocks closed way down in Europe. Greece's benchmark stock index fell 4.4 percent, Germany's 3.4 percent and France's 2.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

US stocks close mixed as calm returns to the market after last week's plunge; Europe fears ebb

Calm returned to the stock market Monday after a spasm of fearful selling last week. Major indexes closed mixed after trading modestly lower for most of the day. 

The Dow Jones industrial average opened at its lowest level since December after a 275-point sell-off on Friday ignited by grim economic signals, especially a dismal report on the U.S. labor market. 

Randy Frederick, managing director of active trading and derivatives at the brokerage Charles Schwab, expects trading to remain slow and steady unless traders are moved by positive news, like a surprisingly strong economic report, or fresh fears about Europe's financial stability. 

"You've got to find a catalyst for people to enter the market, and frankly, I just don't see one right now," Frederick said. 

In Europe, bond investors appeared less concerned about the finances of some of the region's financially troubled countries. Bond yields fell for Italy and Spain, meaning that they appear less likely to default. Lower bond yields translate into decreased borrowing costs for those debt-strapped nations. 

The price of the 10-year U.S. Treasury note fell, lifting its yield to 1.53 percent. The yield hit a record low of 1.44 percent on Friday as fears of a global slowdown increased demand for safe investments. 

The Dow closed down 17.11 points, or 0.1 percent, at 12,101.46. The Standard & Poor's 500 index rose a fraction to 1,278.18. The Nasdaq composite index rose 12.53, or 0.5 percent, to 2,760.01. 

Among the ten industry groups in the S&P 500, only three fell: Energy companies, whose revenue will be hurt by falling oil prices; industrials, hit by fears of a global economic slowdown; and financial stocks, which would likely bear the brunt if Europe's problems worsened. 

 *The NYSE DOW closed  	LOWER ▼	-17.11	points or ▼	-0.14%	Monday, 4 June 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,101.46	▼	-17.11	▼	-0.14%	
	Nasdaq____	2,760.01	▲	12.53	▲	0.46%	
	S&P_500__	1,278.18	▲	0.14	▲	0.01%	
	30_Yr_Bond	2.571	▲	0.03	▲	1.22%	

NYSE Volume	 4,011,954,750 			 		 	
Nasdaq Volume	 1,795,203,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,260.19	▲	0.00	▲	0.00%	closed June 4
	DAX_____	5,978.23	▼	-72.06	▼	-1.19%	
	CAC_40__	2,954.49	▲	4.02	▲	0.14%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,033.40	▼	-83.50	▼	-2.03%	
	Shanghai_Comp	2,308.55	▼	-64.89	▼	-2.73%	
	Taiwan_Weight	6,894.66	▼	-211.43	▼	-2.98%	
	Nikkei_225____	8,295.63	▼	-144.62	▼	-1.71%	
	Hang_Seng____	18,185.59	▲	53.93	▼	-2.01%	
	Strait_Times___	2,698.90	▼	-46.81	▼	-1.70%	
	NZX 50 Index__	3,452.00	▼	-36.29	▼	-1.04%	

http://finance.yahoo.com/news/mixed-close-wall-street-calm-201721672.html

*A mixed close on Wall Street as calm returns

US stocks close mixed as calm returns to the market after last week's plunge; Europe fears ebb*

By Daniel Wagner, AP Business Writer

Calm returned to the stock market Monday after a spasm of fearful selling last week. Major indexes closed mixed after trading modestly lower for most of the day. 

The Dow Jones industrial average opened at its lowest level since December after a 275-point sell-off on Friday ignited by grim economic signals, especially a dismal report on the U.S. labor market. 

Randy Frederick, managing director of active trading and derivatives at the brokerage Charles Schwab, expects trading to remain slow and steady unless traders are moved by positive news, like a surprisingly strong economic report, or fresh fears about Europe's financial stability. 

"You've got to find a catalyst for people to enter the market, and frankly, I just don't see one right now," Frederick said. 

In Europe, bond investors appeared less concerned about the finances of some of the region's financially troubled countries. Bond yields fell for Italy and Spain, meaning that they appear less likely to default. Lower bond yields translate into decreased borrowing costs for those debt-strapped nations. 

The price of the 10-year U.S. Treasury note fell, lifting its yield to 1.53 percent. The yield hit a record low of 1.44 percent on Friday as fears of a global slowdown increased demand for safe investments. 

The Dow closed down 17.11 points, or 0.1 percent, at 12,101.46. The Standard & Poor's 500 index rose a fraction to 1,278.18. The Nasdaq composite index rose 12.53, or 0.5 percent, to 2,760.01. 

Among the ten industry groups in the S&P 500, only three fell: Energy companies, whose revenue will be hurt by falling oil prices; industrials, hit by fears of a global economic slowdown; and financial stocks, which would likely bear the brunt if Europe's problems worsened. 

Caterpillar, which exports heavy machinery, fell 2.6 percent on fears that slower building in China and Europe will reduce demand for construction equipment. Most of the other big losers in the Dow average offer global financial services: JPMorgan Chase, General Electric and Bank of America. 

Chesapeake Energy, the second-biggest U.S. natural gas producer, rose 6 percent, the most in the S&P 500. The company said it will replace four board members, bowing to pressure from activist shareholder Carl Icahn. 

Aside from banks, homebuilders had the biggest declines in the S&P 500. PulteGroup lost 6.8 percent, Lennar 5.3 percent and D.R. Horton 4.8 percent. The declines added to steep losses for all three companies on Friday. In two days, they have lost about one-third of the huge gains that they posted in the first three months of the year. 

The S&P 500 has fallen nearly 10 percent since its recent peak of 1,419, reached on April 2. Traders call a decline of that size a market correction. 

Since April, traders have grown increasingly nervous about Europe's finances. Spain's banks are in shambles, and Cyprus appears close to joining the club of bailed-out countries that already includes Greece, Portugal and Ireland. 

Voters in Greek elections this month might choose leaders who intend to reject Europe's bailout money and harsh spending cuts. That could lead to Greece's expulsion from the euro, potentially rattling financial markets. 

Falling bond yields for Spain and Italy added to signs of growing confidence that Europe can avoid a messy breakup of its currency union. The euro rose a penny against the dollar, to around $1.25. It fell last week to a nearly two-year low against the dollar but rose after the May jobs report renewed concerns about the U.S. economy. 

European stocks closed mixed.


----------



## bigdog

Source: http://finance.yahoo.com 

US stocks waver, then rise, even though Spain warns that it could lose access to borrowing

As world leaders searched for a way out of Europe's mounting debt crisis, U.S. investors moved to the sidelines. 

The major market indexes closed modestly higher, after wavering between slight gains and losses throughout the morning. Trading volume was light and the stock moves were small. In Europe, markets were mixed. 

The Dow Jones industrial average rose 26.49 points, or 0.2 percent, to 12,127.95. It traded within a range of 75 points, one of the narrowest of the year. 

At the end of the day, the Standard & Poor's 500 index closed 7.32 points higher to 1,285.50. The Nasdaq composite index rose 18.10 points to 2,778.11. 

Timothy McCandless, senior stock analyst at Bel Air Investment Advisors in Los Angeles, described Tuesday's market as stuck in purgatory: The economy is not strong enough to represent a healthy recovery, but not weak enough for the Federal Reserve to do more to help. 

"It's wrestling with those two sides," McCandless said. "We're right in between." 

Finance ministers and central bank presidents from the world's seven wealthiest nations held an emergency conference call to discuss how Europe can heal its weakest countries without alienating the stronger ones that have to foot the bill. Leaders are worried that Spain and Cyprus, which are scrambling for money to prop up their troubled banks, will soon need to be bailed out by their richer counterparts. 

"As we saw in Lehman Brothers, when fear hits the banking system, it shuts down," said Jim Millstein, CEO of the advisory firm Millstein & Co. and a former Treasury official who oversaw the agency's investments in AIG and other troubled financial institutions. 

The call didn't yield any concrete solutions for Europe, at least not publicly. Several investors who were unsure of what to do Tuesday said they expect more clarity — and perhaps more drama — later this month, after Greece holds elections June 17 and world leaders from the nations known as the Group of 20 meet for the two days afterward. 

 *The NYSE DOW closed  	HIGHER ▲	26.49	points or ▲	0.22%	Tuesday, 5 June 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,127.95	▲	26.49	▲	0.22%	
	Nasdaq____	2,778.11	▲	18.10	▲	0.66%	
	S&P_500__	1,285.50	▲	7.32	▲	0.57%	
	30_Yr_Bond	2.619	▲	0.05	▲	1.87%	

NYSE Volume	 3,358,654,750 			 		 	
Nasdaq Volume	 1,627,203,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,260.19	▲	0.00	▲	0.00%	closed 
	DAX_____	5,969.40	▼	-8.83	▼	-0.15%	
	CAC_40__	2,986.10	▲	31.61	▲	1.07%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,092.40	▲	59.00	▲	1.46%	
	Shanghai_Comp	2,311.92	▲	3.37	▲	0.15%	
	Taiwan_Weight	7,000.45	▲	105.79	▲	1.53%	
	Nikkei_225____	8,382.00	▲	86.37	▲	1.04%	
	Hang_Seng____	18,259.03	▲	53.93	▲	0.40%	
	Strait_Times___	2,714.83	▲	15.93	▲	0.59%	
	NZX 50 Index__	3,420.79	▼	-31.20	▼	-0.90%	

http://finance.yahoo.com/news/stocks-inch-higher-investors-await-202651407.html

*Stocks inch higher as investors await Europe news 

US stocks waver, then rise, even though Spain warns that it could lose access to borrowing*

By Christina Rexrode, AP Business Writer

As world leaders searched for a way out of Europe's mounting debt crisis, U.S. investors moved to the sidelines. 

The major market indexes closed modestly higher, after wavering between slight gains and losses throughout the morning. Trading volume was light and the stock moves were small. In Europe, markets were mixed. 

The Dow Jones industrial average rose 26.49 points, or 0.2 percent, to 12,127.95. It traded within a range of 75 points, one of the narrowest of the year. 

Timothy McCandless, senior stock analyst at Bel Air Investment Advisors in Los Angeles, described Tuesday's market as stuck in purgatory: The economy is not strong enough to represent a healthy recovery, but not weak enough for the Federal Reserve to do more to help. 

"It's wrestling with those two sides," McCandless said. "We're right in between." 

Finance ministers and central bank presidents from the world's seven wealthiest nations held an emergency conference call to discuss how Europe can heal its weakest countries without alienating the stronger ones that have to foot the bill. Leaders are worried that Spain and Cyprus, which are scrambling for money to prop up their troubled banks, will soon need to be bailed out by their richer counterparts. 

"As we saw in Lehman Brothers, when fear hits the banking system, it shuts down," said Jim Millstein, CEO of the advisory firm Millstein & Co. and a former Treasury official who oversaw the agency's investments in AIG and other troubled financial institutions. 

The call didn't yield any concrete solutions for Europe, at least not publicly. Several investors who were unsure of what to do Tuesday said they expect more clarity — and perhaps more drama — later this month, after Greece holds elections June 17 and world leaders from the nations known as the Group of 20 meet for the two days afterward. 

Spain isn't part of the Group of Seven, the countries that held the conference call, but the U.S. and Germany are. As the G-7 leaders met, Spain's prime minister issued a plea for Europe "to support those that are in difficulty." Just beforehand, Spain's finance minister said the country was in danger of not being able to borrow money on the open market. 

The yield on Spain's 10-year bonds crept down to 6.31 percent, but that is still dangerously high. Other countries including Greece and Portugal were forced to seek bailouts once their borrowing costs hit 7 percent. 

Patrick O'Keefe, director of economic research at the accounting and consulting firm J.H. Cohn, was surprised that markets didn't react more forcibly to Spain's warning flags. 

"A couple of years ago, a statement like that by any sovereign would have roiled the market," O'Keefe said. He guesses that the market, used to bad news by now, has already priced in European calamity. 

"We were saying, 'We're on the brink' in 2008,'" O'Keefe said. "We're not all that far from the brink now." 

In the U.S., the Institute for Supply Management reported that U.S. service companies grew at a slightly faster pace in May. The stock indexes briefly popped higher on the news. 

At the end of the day, the Standard & Poor's 500 index closed 7.32 points higher to 1,285.50. The Nasdaq composite index rose 18.10 points to 2,778.11. 

O'Keefe said the market is waiting for a blueprint about what to do in Europe and other regions. "I think the markets are looking and saying, 'Where is the political leadership?" O'Keefe said. "And that's true around the world. The Europeans just happen to be out of the frying pan and into the fire right now." 

A central problem in Europe is whether the best solution means spending less money or more. Any plan is sure to irritate at least some countries. The German finance minister said again Tuesday he would oppose watering down budget cuts that stronger countries like his own want to impose on weaker countries like Greece. 

Some leaders have pushed for a central body that would have more authority over banks in all 17 countries that use the euro. A deposit-insurance program, like the one run by the Federal Deposit Insurance Corp. in the U.S., could keep fearful customers in Spain and Greece from yanking their money out of banks there. 

Spain on Tuesday pushed for a European "banking union" that could give bailouts to European banks directly, possibly bypassing national governments and the strings they want to attach to any rescue loans. 

European markets were mixed. Greece's main stock index plunged 5 percent. Germany's benchmark index was basically flat. Stocks rose in France and Spain. 

Starbucks fell nearly 3 percent a day after announcing it will remake its food offerings. J.C. Penney fell 4 percent after CEO Ron Johnson said his new pricing strategy had confused customers. Homebuilders Lennar and PulteGroup each rose 6 percent or more after being hammered in the past two trading sessions.


----------



## bigdog

Source: http://finance.yahoo.com 

Hopes for new action from Europe and the Fed sends stocks surging; Dow jumps 286 points

Hope that European leaders will take steps to ease the region's debt crisis sent stocks surging to their best day this year Wednesday. 

Speculation that the Federal Reserve could make another move to help the flagging U.S. economy also drove traders out of bonds and into stocks Wednesday after weeks of losses. 

News reports said Germany and European Union officials were considering a plan to lend money from the European bailout fund to help rescue Spain's hobbled banks. 

Jeff Kleintop, chief market strategist at LPL Financial, said the market appeared to be turning on rumors. But the all the talk was enough to convince some traders that the worst was over for now. 

As of Monday, worries about Greece and Spain had pulled the Standard & Poor's 500 index down nearly 10 percent from its peak in early April. "The next 10 percent move is not down, it's up," Kleintop said. 

The rally started early and gathered force in the afternoon. The charge turned the Dow Jones industrial average positive for 2012 and erased the biggest loss of the year less than a week after it happened: the 275-point plunge set off by a dismal U.S. jobs report on Friday. 

The Dow Jones industrial average surged 286.84 points Wednesday to close at 12,414.79, its biggest gain since December 20. 

In other trading, the Standard & Poor's 500 rose 29.63 points to 1,315.13. The Nasdaq composite rose 66.61 points to 2,844.72.

 *The NYSE DOW closed  	HIGHER ▲	286.84	points or ▲	2.37%	Wednesday, 6 June 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,414.79	▲	286.84	▲	2.37%	
	Nasdaq____	2,844.72	▲	66.61	▲	2.40%	
	S&P_500__	1,315.13	▲	29.63	▲	2.30%	
	30_Yr_Bond	2.720	▲	0.10	▲	3.86%	

NYSE Volume	 4,268,368,500 			 		 	
Nasdaq Volume	 1,786,404,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,384.11	▲	123.92	▲	2.36%	
	DAX_____	6,093.99	▲	124.59	▲	2.09%	
	CAC_40__	3,058.44	▲	72.34	▲	2.42%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,104.70	▲	12.30	▲	0.30%	
	Shanghai_Comp	2,309.55	▼	-2.36	▼	-0.10%	
	Taiwan_Weight	7,056.15	▲	55.70	▲	0.80%	
	Nikkei_225____	8,533.53	▲	151.53	▲	1.81%	
	Hang_Seng____	18,520.53	▲	53.93	▲	1.43%	
	Strait_Times___	2,760.83	▲	48.52	▲	1.79%	
	NZX 50 Index__	3,464.51	▲	43.72	▲	1.28%	

http://finance.yahoo.com/news/dow-l...1iMDIxLTExZTEtYjRmYi04MGY2YjJmNjIwZjY-;_ylv=3

*Dow leaps 286 points, its biggest day of the year

Hopes for new action from Europe and the Fed sends stocks surging; Dow jumps 286 points*

By Matthew Craft, AP Business Writer 

Hope that European leaders will take steps to ease the region's debt crisis sent stocks surging to their best day this year Wednesday. 

Speculation that the Federal Reserve could make another move to help the flagging U.S. economy also drove traders out of bonds and into stocks Wednesday after weeks of losses. 

News reports said Germany and European Union officials were considering a plan to lend money from the European bailout fund to help rescue Spain's hobbled banks. 

Jeff Kleintop, chief market strategist at LPL Financial, said the market appeared to be turning on rumors. But the all the talk was enough to convince some traders that the worst was over for now. 

As of Monday, worries about Greece and Spain had pulled the Standard & Poor's 500 index down nearly 10 percent from its peak in early April. "The next 10 percent move is not down, it's up," Kleintop said. 

The rally started early and gathered force in the afternoon. The charge turned the Dow Jones industrial average positive for 2012 and erased the biggest loss of the year less than a week after it happened: the 275-point plunge set off by a dismal U.S. jobs report on Friday. 

The Dow Jones industrial average surged 286.84 points Wednesday to close at 12,414.79, its biggest gain since December 20. 

LPL has started to pull back on bets against the S&P 500 and the euro. "We've decided it's time to declare victory," Kleintop said. 

A speech by a Federal Reserve official also added to speculation that the Fed may take more steps to bolster the U.S. economic recovery. Dennis Lockhart, president of the Fed's Atlanta regional bank, says weak job growth over the past two months highlighted the "halting and tenuous" recovery. If the trend continues, "further monetary actions to support the recovery will certainly need to be considered," he said. 

Federal Reserve Chairman Ben Bernanke will likely be asked about more actions to help the economy when he testifies before a congressional committee on Thursday. 

Companies whose stocks have been clobbered the most over the past month had the best gains. Homebuilders rallied, helped by a strong earnings report from Hovnanian Enterprises and rising applications for new mortgages. Hovnanian's CEO said he sees signs that the housing industry may be entering the early stages of recovery. The Mortgage Bankers Association reported that applications for mortgages rose 1.3 percent last week, largely a result of more people trying to refinance their existing loans. 

Hovnanian leapt 18 percent. PulteGroup Inc. surged 7 percent and Lennar Corp. 4 percent. 

The gains were spread across the market. Only 11 companies in the S&P 500 dropped, and every industry group in the index rose, led by energy and financial companies. Roughly seven stocks rose for every one that fell on the New York Stock Exchange. 

Jim Russell, chief equity strategist at U.S. Bank Wealth Management in Cincinnati, Ohio, said it's natural for the market to have a strong day after an extended beat-down. On such days, it's usually the companies that were hit the hardest that fare best. 

"In market language, it's called a technical bounce," he said. "There's no bad news today, so the market goes up. Frankly, it's that simple." 

U.S. markets followed major European indexes higher. Indexes rose 2.4 percent in the U.K. and France. Borrowing costs eased for Spain, another positive sign. 

In other trading, the Standard & Poor's 500 rose 29.63 points to 1,315.13. The Nasdaq composite rose 66.61 points to 2,844.72. 

A Federal Reserve survey showed growth across the country. Hiring was steady, according to the Fed's "Beige Book." That's in marked contrast to the government's monthly jobs report, which said employers added the fewest jobs in a year last month. 

The dollar dipped and Treasury yields rose as investors moved money out of defensive investments. The yield on the benchmark rose to 1.64 percent from 1.57 percent late Tuesday. 

Among stocks making big moves: 

”” Morgan Stanley jumped $1.08, 8 percent, to $13.94 amid reports that the Blackstone Group and other private equity firms may try to buy a stake in the bank's commodities business. 

”” UnitedHealth Group gained $1.66, 3 percent, to $57.70 after the health insurer said it will raise its quarterly dividend from 16 cents to 21 cents per share . The board also approved a plan to buy back stock. 

”” Tempur-Pedic International plunged $21.28, 49 percent, to $22.39. The mattress maker said it expects quarterly profits to fall by half compared to last year. Tempur-Pedic blamed its competitors' aggressive marketing campaigns and promotions for hurting its sales.


----------



## bigdog

Source: http://finance.yahoo.com 

Investors didn't hear what they wanted from Federal Reserve Chairman Ben Bernanke. 

An early rally in stocks faded in the afternoon Thursday after Bernanke signaled no immediate further steps from the Fed to stoke economic growth in the United States, which has shown signs of faltering. 

A report that Americans cut back sharply on their credit card purchases in April, suggesting consumers were losing confidence in the economy, also took some steam out of the market. 

Bank stocks also lost ground late in the day after the Fed said it wants U.S. banks to set aside more money to cushion against unexpected losses, a key step in preventing another financial crisis. 

The Dow Jones industrial average had been up as much as 140 points but closed up 46.17 points, or 0.3 percent, at 12,460.96. 

"The market is addicted to easy money, and Bernanke has the job of not pulling the trigger unless the situation needs stabilizing," said Doug Roberts, chief investment strategist at the investment company Channel Capital Research. 

Bernanke told a joint economic committee in Congress that the Fed was ready to act if the economy needs it, but he did not spell out any additional steps on the way. 

The Fed chairman said the central bank was "prepared to take action as needed to protect the U.S. financial system and economy in the event that financial stresses escalate." 

Weaker hiring in May and comments by a Fed regional president had led some investors to hope that the Fed might try something new. The stock market enjoyed its biggest rally of the year on Wednesday. 

On Thursday, the early rally in stocks came after China cut its benchmark lending rate for the first time in nearly four years, adding to efforts to reverse a sharp slowdown in economic growth there. 

 *The NYSE DOW closed  	HIGHER ▲	46.17	points or ▲	0.37%	Thursday, 7 June 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,460.96	▲	46.17	▲	0.37%	
	Nasdaq____	2,831.02	▼	-13.70	▼	-0.48%	
	S&P_500__	1,314.99	▼	-0.14	▼	-0.01%	
	30_Yr_Bond	2.760	▲	0.04	▲	1.36%	

NYSE Volume	 3,933,011,750 			 		 	
Nasdaq Volume	 1,651,331,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,447.79	▲	63.68	▲	1.18%	
	DAX_____	6,144.22	▲	50.23	▲	0.82%	
	CAC_40__	3,071.16	▲	12.72	▲	0.42%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,156.70	▲	52.00	▲	1.27%	
	Shanghai_Comp	2,293.13	▼	-16.43	▼	-0.71%	
	Taiwan_Weight	7,080.31	▲	24.16	▲	0.34%	
	Nikkei_225____	8,639.72	▲	106.19	▲	1.24%	
	Hang_Seng____	18,678.29	▲	53.93	▲	0.85%	
	Strait_Times___	2,759.26	▼	-1.57	▼	-0.06%	
	NZX 50 Index__	3,473.96	▲	9.44	▲	0.27%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stock rally fades; no immediate help from Fed

US stocks get a lift from China, but rally stalls after Bernanke testimony*

By Pallavi Gogoi, AP Business Writer

NEW YORK (AP) -- Investors didn't hear what they wanted from Federal Reserve Chairman Ben Bernanke. 

An early rally in stocks faded in the afternoon Thursday after Bernanke signaled no immediate further steps from the Fed to stoke economic growth in the United States, which has shown signs of faltering. 

A report that Americans cut back sharply on their credit card purchases in April, suggesting consumers were losing confidence in the economy, also took some steam out of the market. 

Bank stocks also lost ground late in the day after the Fed said it wants U.S. banks to set aside more money to cushion against unexpected losses, a key step in preventing another financial crisis. 

The Dow Jones industrial average had been up as much as 140 points but closed up 46.17 points, or 0.3 percent, at 12,460.96. 

"The market is addicted to easy money, and Bernanke has the job of not pulling the trigger unless the situation needs stabilizing," said Doug Roberts, chief investment strategist at the investment company Channel Capital Research. 

Bernanke told a joint economic committee in Congress that the Fed was ready to act if the economy needs it, but he did not spell out any additional steps on the way. 

The Fed chairman said the central bank was "prepared to take action as needed to protect the U.S. financial system and economy in the event that financial stresses escalate." 

Weaker hiring in May and comments by a Fed regional president had led some investors to hope that the Fed might try something new. The stock market enjoyed its biggest rally of the year on Wednesday. 

On Thursday, the early rally in stocks came after China cut its benchmark lending rate for the first time in nearly four years, adding to efforts to reverse a sharp slowdown in economic growth there. 

"China is the world's economic locomotive at the moment, and it can't afford to slow down at a time when other major economies are in precarious positions," said Matthew Kaufler, portfolio manager at mutual fund group Federated Investors. 

The broader stock market drifted lower during the afternoon as well. The Standard & Poor's 500 index ended down 0.14 point at 1,314.99. The Nasdaq composite index finished down 13.70 points at 2,831.02. 

Industrial stocks that rely heavily on the Chinese market for sales were among the biggest gainers on the New York Stock Exchange. Heavy equipment maker Caterpillar rose 48 cents to $87.14. 

The price of gold, which since 2009 has often surged as the Fed has bought bonds to stimulate the economy, fell almost 3 percent after Bernanke's testimony. Gold declined $46 an ounce, the biggest decline since April, to $1,588. 

Gold tends to fall when traders expect the value of the dollar to rise, which is a likely outcome if the Fed doesn't take steps to keep interest rates low, like buying government bonds. 

On Friday, after the government reported that the country created only 69,000 jobs in May, gold rocketed $58 an ounce, partly because investors believed the Fed might step in. 

The sharp moves up and down aren't likely to stop until there's a clear answer from the Fed, said Jon Nadler, senior analyst at Kitco Metals. That may take until June 20, when the Fed holds its next policy meeting. 

"This is a market built on anticipation and little else," he said. 

Michelle Girard, senior U.S. economist with Royal Bank of Scotland, said the Fed may extend a program called Operation Twist, in which it sells short-term securities and buys long-term bonds to drive down long-term interest rates, for a few months. That program is set to expire at the end of this month. 

Investor fear has grown recently that Greece will leave the euro currency union, triggering a financial a panic in Europe and dragging down the rest of the world economy. 

Some fear over Europe was allayed Thursday when Spain raised $2.6 billion from the bond market. The interest rate on its benchmark 10-year note fell to 6.02 percent from 6.26 percent late Wednesday in trading on the secondary market, a sign that bond investors have more confidence in Spain's finances. 

Among stocks making big moves in the U.S.: 

”” Pharmacyclics Inc. rose $1.96, or 6 percent, to $36.73 after an analyst predicted that the company's experimental lymphoma drug could grow into a blockbuster product. 

”” Molina Healthcare, an insurance company, plunged $7.99, or 31 percent, to $17.77 after it withdrew its 2012 profit forecast, citing a possible revenue shortfall in Texas. 

”” Men's Wearhouse dropped $6.72, or 19 percent, to $28.85 after reporting disappointing financial results and issuing a weak forecast for its second quarter.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks finish best week of 2012 on news that businesses are restocking faster than expected

Stocks rose for the fourth day in a row on Friday, capping their best week so far this year. 

It was a relief for investors after the big drops of the previous week. 

Stocks fell in morning trading, with the Dow Jones industrial average down almost 63 points. But they turned around after the government said businesses are restocking their shelves faster than analysts had expected. 

The Commerce Department said U.S. wholesale stockpiles grew 0.6 percent in April. That's twice as fast as they grew in March and a sign that businesses are ordering enough goods to lead to increased factory production and sales. Investors had been braced for more sluggish growth. 

Oil fell 72 cents to $84.10 per barrel. Sure, it was pushed down by long-term economic worries. But lower energy costs help consumers. 

"If you had some doubts about an economic recovery, oil in the $80s is a lot better than oil at $110," said Jim Dunigan, managing executive of investments for PNC Wealth Management in Philadelphia. Oil traded just below $110 in late February. 

The Dow finished 93.24 points higher, or three-quarters of a percent, at 12,554.20. It ended the week up almost 3.6 percent. 

The Standard & Poor's 500 index rose 10.67 points, or 0.81 percent, to close at 1,325.66. The Nasdaq composite rose 27.40 points, or 0.97 percent, to close at 2,858.42. 

Nine out of the ten industry groups in the S&P 500 rose. Only energy stocks declined, following energy prices lower. 

 *The NYSE DOW closed  	HIGHER ▲	93.24	points or ▲	0.75%	Friday, 8 June 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,554.20	▲	93.24	▲	0.75%	
	Nasdaq____	2,858.42	▲	27.40	▲	0.97%	
	S&P_500__	1,325.66	▲	10.67	▲	0.81%	
	30_Yr_Bond	2.765	▲	0.01	▲	0.29%	

NYSE Volume	 3,307,896,500 			 		 	
Nasdaq Volume	 1,383,703,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,435.08	▼	-12.71	▼	-0.23%	
	DAX_____	6,130.82	▼	-13.40	▼	-0.22%	
	CAC_40__	3,051.69	▼	-19.47	▼	-0.63%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,111.20	▼	-45.50	▼	-1.09%	
	Shanghai_Comp	2,281.45	▼	-11.68	▼	-0.51%	
	Taiwan_Weight	6,999.65	▼	-80.66	▼	-1.14%	
	Nikkei_225____	8,459.26	▼	-180.46	▼	-2.09%	
	Hang_Seng____	18,502.34	▲	53.93	▼	-0.94%	
	Strait_Times___	2,737.89	▼	-21.37	▼	-0.77%	
	NZX 50 Index__	3,449.47	▼	-24.48	▼	-0.70%	

http://finance.yahoo.com/news/stock-market-posts-best-week-201445118.html

*Stock market posts best week of 2012

Stocks finish best week of 2012 on news that businesses are restocking faster than expected*

By Joshua Freed, AP Business Writer



Stocks rose for the fourth day in a row on Friday, capping their best week so far this year. 

It was a relief for investors after the big drops of the previous week. 

Stocks fell in morning trading, with the Dow Jones industrial average down almost 63 points. But they turned around after the government said businesses are restocking their shelves faster than analysts had expected. 

The Commerce Department said U.S. wholesale stockpiles grew 0.6 percent in April. That's twice as fast as they grew in March and a sign that businesses are ordering enough goods to lead to increased factory production and sales. Investors had been braced for more sluggish growth. 

Oil fell 72 cents to $84.10 per barrel. Sure, it was pushed down by long-term economic worries. But lower energy costs help consumers. 

"If you had some doubts about an economic recovery, oil in the $80s is a lot better than oil at $110," said Jim Dunigan, managing executive of investments for PNC Wealth Management in Philadelphia. Oil traded just below $110 in late February. 

The Dow finished 93.24 points higher, or three-quarters of a percent, at 12,554.20. It ended the week up almost 3.6 percent. 

The Standard & Poor's 500 index rose 10.67 points, or 0.81 percent, to close at 1,325.66. The Nasdaq composite rose 27.40 points, or 0.97 percent, to close at 2,858.42. 

Nine out of the ten industry groups in the S&P 500 rose. Only energy stocks declined, following energy prices lower. 

Wal-Mart Stores was the biggest gainer in the Dow, up $2.35, or 3.6 percent, at $68.22. Other companies that depend heavily on a strong economy grew too, including Intel, up 47 cents, or 1.8 percent, at $26.41, and General Electric, up 20 cents, or 1 percent, to $19.20. Home Depot rose $1.11, or 2.2 percent, to $52.35. 

Facebook rose 79 cents, or 3 percent, to $27.10 after announcing an "app center" that will recommend new add-on software for users. Anything that boosts user interaction is likely to help it sell more ads, which has been a key concern for investors in its new stock, which debuted three weeks ago at $38. 

Chesapeake Energy shareholders punished their directors and were rewarded by the market. The stock rose 51 cents, or 2.9 percent, to $18.36 after shareholder votes prompted the resignations of two directors at the company's annual meeting Friday. Earlier in the day the company said it will sell pipeline assets in three deals for a total of more than $4 billion in cash. 

Navistar International rose $4.25, or 17.6 percent, to $28.36 after the activist investor Carl Icahn boosted his stake in the truck maker. 

Markets fell in Asia. Shanghai's stock index lost a half-percent, its fifth day of losses. Japan's Nikkei fell 2.1 percent. 

Chinese leaders have been showing signs of urgency ahead of May trade and industrial data due out this weekend that might be even weaker than earlier pessimistic forecasts. The Chinese government cut interest rates for the first time in four years and has reduced gasoline and diesel prices for the second time in a month. 

Over the long run, that will put more money in the pockets of Chinese consumers. In the short run it's a sign that the government is worried about growth. 

"That shows they're being proactive, but on the other hand, it also makes you wonder, what's the data is really like?" said Uri Landesman, president of Platinum Partners. "I'm wondering how bad the data's going to be. I'd be very surprised if it's good." 

China is a key U.S. trade partner so its growth is important to U.S. companies. Its importance is magnified by the possibility that Europe's economy will go from slow growth to shrinkage, Landesman said. 

Major European markets fell, although their declines were smaller after the U.S. inventory news came out. France's benchmark index lost 0.6 percent, Britain's and Germany's each dropped 0.2 percent.

9697


----------



## bigdog

Source: http://finance.yahoo.com 

Investor relief over a rescue for Spain's banks fades quickly; Dow loses 142

In the United States, the broader market drifted lower all day. The Standard & Poor's 500 index ended down 16.73 points at 1,308.93, and the Nasdaq composite index closed down 48.69 points at 2,809.73. 

The Dow finished down 142.97, one of its biggest daily declines this year, at 12,411.23. It opened up almost 100 points. 

A burst of enthusiasm over a rescue of Spanish banks melted away within hours Monday, and investor anxiety about the troubled finances of Europe grew on both sides of the Atlantic. 

On Wall Street, stocks opened sharply higher but sank all day. Selling accelerated in the last hour of trading, and the Dow Jones industrial average closed down 142 points. 

More alarming, bond investors signaled that they are less confident about lending money to the governments of both Spain and Italy, which investors fear will be next to seek help. 

Jim Herrick, director of equity trading at Baird & Co., said investors realized "that this Band-Aid approach with Spain will not solve larger problems in Europe and that this could be a long, arduous process." 

As investors considered the long-term fate of Europe, Herrick said, "it was time to sell." 

European countries committed over the weekend to funnel up to $125 billion to Spain to distribute to its banks, which have been driven almost to insolvency from a bust in real estate prices four years ago. 

Spain became the fourth European nation to seek a rescue, after Greece, Portugal and Ireland. 


 *The NYSE DOW closed  	LOWER ▼	-142.97	points or ▼	-1.14%	Monday, 11 June 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,411.23	▼	-142.97	▼	-1.14%	
	Nasdaq____	2,809.73	▼	-48.69	▼	-1.70%	
	S&P_500__	1,308.93	▼	-16.73	▼	-1.26%	
	30_Yr_Bond	2.723	▼	-0.04	▼	-1.52%	

NYSE Volume	 3,537,531,500 			 		 	
Nasdaq Volume	 1,512,609,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,432.37	▼	-2.71	▼	-0.05%	
	DAX_____	6,141.05	▲	10.23	▲	0.17%	
	CAC_40__	3,042.76	▼	-8.93	▼	-0.29%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,111.20	▼	-45.50	▼	-1.09%	
	Shanghai_Comp	2,305.86	▲	24.41	▲	1.07%	
	Taiwan_Weight	7,120.23	▲	120.58	▲	1.72%	
	Nikkei_225____	8,624.90	▲	165.64	▲	1.96%	
	Hang_Seng____	18,953.63	▲	53.93	▲	2.44%	
	Strait_Times___	2,786.71	▲	48.82	▲	1.78%	
	NZX 50 Index__	3,454.24	▲	4.77	▲	0.14%	

http://finance.yahoo.com/news/relief-over-spain-bank-rescue-204859578.html

*Relief over Spain bank rescue fades quickly

Investor relief over a rescue for Spain's banks fades quickly; Dow loses 142*

By Pallavi Gogoi, AP Business Writer 

A burst of enthusiasm over a rescue of Spanish banks melted away within hours Monday, and investor anxiety about the troubled finances of Europe grew on both sides of the Atlantic. 

On Wall Street, stocks opened sharply higher but sank all day. Selling accelerated in the last hour of trading, and the Dow Jones industrial average closed down 142 points. 

More alarming, bond investors signaled that they are less confident about lending money to the governments of both Spain and Italy, which investors fear will be next to seek help. 

Jim Herrick, director of equity trading at Baird & Co., said investors realized "that this Band-Aid approach with Spain will not solve larger problems in Europe and that this could be a long, arduous process." 

As investors considered the long-term fate of Europe, Herrick said, "it was time to sell." 

European countries committed over the weekend to funnel up to $125 billion to Spain to distribute to its banks, which have been driven almost to insolvency from a bust in real estate prices four years ago. 

Spain became the fourth European nation to seek a rescue, after Greece, Portugal and Ireland. 

Market strategists had hoped that the rescue in Spain would at least temporarily ease fear that debt problems in Europe will explode into a world financial crisis and hurt the fragile global economy. 

Those strategists had predicted a rally in stocks after the deal was announced. But the relief was short-lived, and investors were still worried about an election Sunday in Greece that could lead to that country's exit from the euro. 

In the case of Spain, investors appeared uncertain about whether the rescue would be enough to save the banks and whether the terms of the loan, still undisclosed, would deliver another blow to the recession-hobbled Spanish economy. 

France's main stock index closed down 0.3 percent, and Germany's rose just 0.2 percent. Both indexes were up more than 2 percent earlier in the day. Spain's benchmark stock index shot higher by 6 percent but closed down 0.5 percent. 

In the United States, the broader market drifted lower all day. The Standard & Poor's 500 index ended down 16.73 points at 1,308.93, and the Nasdaq composite index closed down 48.69 points at 2,809.73. 

The Dow finished down 142.97, one of its biggest daily declines this year, at 12,411.23. It opened up almost 100 points. 

"People want to see clarity," said Stephen Carl, head of equity trading at The Williams Capital Group, an investment bank in New York. "No one likes a situation that's to be determined." 

The yield on Spanish 10-year bonds climbed 0.29 percentage point to 6.47 percent, an indication that bond investors are demanding a higher return to lend money to the Spanish government. The yield had fallen earlier. 

The cost of insuring Spanish government debt rose almost to a record high, suggesting investors are more nervous about a Spanish government default, according to Markit, a financial information company. 

The yield on the comparable Italian bond crept higher, too ”” by 0.28 percentage point from Friday to 5.83 percent. 

Finance ministers of the 17 countries that use the euro currency said they would make the $120 billion available to the Spanish government to distribute to its banks. 

Bond investors were worried that the debt from the rescue package would put additional strain on Spain's finances, though. The European Union made clear Monday that there would be some strings attached besides interest. 

"When people lend money, they never do it for free. They want to know what is done with the money," said Joaquin Almunia, the European Competition Commissioner. 

Adding to the economic fear, Italy said its economy contracted by 0.8 percent in the first three months of the year, the worst showing in three years. The Italian government is struggling to fend off the perception that Italy will be next to need a rescue. 

The price of oil reversed an earlier gain, falling 65 cents to $83.46 a barrel. Investors bought safer investments like U.S. Treasury notes, sending the yield on the benchmark 10-year note down to 1.59 percent from 1.64 percent Friday. 

Also adding to market worries was China's economic slowdown. A large steelmaker in China, Baoshan Iron & Steel, said it lowered steel prices as demand from makers of appliances and cars slowed. 

"China is a big piece of the global economic puzzle," Herrick said. "Any piece of news that comes out from there will be closely scrutinized." 

The news sent stocks of steelmakers sharply lower. U.S. Steel fell 6.5 percent, while AK Steel Holding fell even further, 14 percent, after its stock was downgraded by an analyst on similar concerns. 

Apple stock fell $9.15, or 1.6 percent, to $571.17, as investors appeared unimpressed by what the company unveiled at a conference for software developers in San Francisco. 

Apple showcased a new operating system for the iPhone, a thinner MacBook Pro laptop and other products. Apple traded as high as $588.50 earlier. 

Among other stocks making big moves on Monday: 

”” Micronetics Inc. nearly doubled, rising $7.10 to $14.59 after the maker of microwave and radio frequency components agreed to a takeover by Mercury Computer Systems Inc. 

”” EnergySolutions fell $1.97, or 55 percent, to $1.62 after the nuclear industry service company appointed board member David Lockwood as its new chief executive, and lowered its full-year adjusted earnings estimate. 

”” Progress Energy rose $1.47, or 2.5 percent, to $59.60 after federal regulators cleared Duke Energy's proposed takeover of the company, a deal that will create the nation's largest electric utility.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks move higher on Wall St. after Fed official says he supports moves to stimulate economy

the Dow rose 162.57 points, or 1.3 percent, to close at 12,573.80. The Standard & Poor's 500 index gained 15.25 points to 1,324.18, and the Nasdaq composite rose 33.34 to 2,843.07. Trading was light for a second day. 

Stocks staged one of their strongest rallies of the year Tuesday, erasing a big decline from the day before, after a Federal Reserve official said he supported more measures to stimulate the economy. 

The Dow Jones industrial average shot up 162 points, and every major category of stock in the U.S. market closed higher. 

Charles Evans, president of the Fed's Chicago bank, told Bloomberg News that he supported action to produce faster job growth, including having the Fed commit to super-low interest rates until unemployment falls significantly. 

Last week, Fed Chairman Ben Bernanke told a committee of Congress that he was ready to act if the economy needs it, but he laid out no immediate steps. 

Investors have been worried about an escalating crisis in Europe over government debt and the health of banks, and job growth in the United States has been slower over the past three months than it was earlier in the year. 

"If there's really bad news, it creates a heightened sense of anticipation that the Fed is going to ride to the rescue," said Jeff Lancaster, a prinicpal at the wealth advisory firm Bingham, Osborn & Scarborough in San Francisco. 

"It's almost like you've crashed your car and you've got a $500 deductible, and you take the car to the body shop and you just have this perverse desire for the damage to be well over $500," he said. 

 *The NYSE DOW closed  	HIGHER ▲	162.57	points or ▲	1.31%	Tuesday, 12 June 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,573.80	▲	162.57	▲	1.31%	
	Nasdaq____	2,843.07	▲	33.34	▲	1.19%	
	S&P_500__	1,324.18	▲	15.25	▲	1.17%	
	30_Yr_Bond	2.772	▲	0.05	▲	1.80%	

NYSE Volume	 3,442,926,750 			 		 	
Nasdaq Volume	 1,598,636,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,473.74	▲	41.37	▲	0.76%	
	DAX_____	6,161.24	▲	20.19	▲	0.33%	
	CAC_40__	3,046.91	▲	4.15	▲	0.14%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,118.30	▲	7.10	▲	0.17%	
	Shanghai_Comp	2,289.79	▼	-16.06	▼	-0.70%	
	Taiwan_Weight	7,072.08	▼	-48.15	▼	-0.68%	
	Nikkei_225____	8,536.72	▼	-88.18	▼	-1.02%	
	Hang_Seng____	18,872.56	▲	53.93	▼	-0.43%	
	Strait_Times___	2,797.08	▲	9.27	▲	0.33%	
	NZX 50 Index__	3,425.60	▼	-28.64	▼	-0.83%	


http://finance.yahoo.com/news/hope-fed-help-powers-us-204222206.html

*Hope for Fed help powers US stocks to big gain

Stocks move higher on Wall St. after Fed official says he supports moves to stimulate economy*

By Pallavi Gogoi, AP Business Writer 

Stocks staged one of their strongest rallies of the year Tuesday, erasing a big decline from the day before, after a Federal Reserve official said he supported more measures to stimulate the economy. 

The Dow Jones industrial average shot up 162 points, and every major category of stock in the U.S. market closed higher. 

Charles Evans, president of the Fed's Chicago bank, told Bloomberg News that he supported action to produce faster job growth, including having the Fed commit to super-low interest rates until unemployment falls significantly. 

Last week, Fed Chairman Ben Bernanke told a committee of Congress that he was ready to act if the economy needs it, but he laid out no immediate steps. 

Investors have been worried about an escalating crisis in Europe over government debt and the health of banks, and job growth in the United States has been slower over the past three months than it was earlier in the year. 

"If there's really bad news, it creates a heightened sense of anticipation that the Fed is going to ride to the rescue," said Jeff Lancaster, a prinicpal at the wealth advisory firm Bingham, Osborn & Scarborough in San Francisco. 

"It's almost like you've crashed your car and you've got a $500 deductible, and you take the car to the body shop and you just have this perverse desire for the damage to be well over $500," he said. 

Rob Lutts, president and chief investment officer of Cabot Money Management, said investors were looking for an excuse to buy. 

"The question for Bernanke is should he add more medicine when he's already doped up the patient enough already," he said. 

Materials companies, industrial companies and banks rose the most, but each of the 10 major categories of stock in the Standard & Poor's 500 climbed. Energy stocks also had an impressive day after the price of oil rose from an eight-month low. 

Over the weekend, European countries committed to lend Spain up to $125 billion to save its failing banks. But on Monday, the Dow fell 142 points. Investors fretted that they did not know enough about the details. 

The big rally in U.S. stocks on Tuesday came despite more discouraging signs from Europe. Spain's borrowing costs jumped for a second day, to the highest level since Spain adopted the euro currency. 

The interest rate, or yield, on Spain's 10-year bond rose 0.20 percentage point to 6.67 percent. It rose as high as 6.81 percent earlier in the day. At 7 percent, economists say, countries generally can no longer finance their own debt. 

The rescue loan will be funneled through the government of Spain, and investors are also worried about whether Spain will have to repay that loan before it pays its other debt. 

That makes bondholders less willing to buy Spain's debt, and makes them demand a higher interest rate to compensate for the added risk that they will not be paid back first if Spain is unable to pay all its debt. 

"The market needs some confidence and foreign buyers won't buy Spanish debt if they won't get paid first," said William O'Donnell, head of U.S. Treasury strategy at Royal Bank of Scotland. 

Borrowing costs for Italy, which analysts fear will be the next European country to seek some kind of rescue, rose even more. They jumped 0.47 percentage point to 6.02 percent. 

Investors are also nervous ahead of an election in Greece this weekend that may determine whether that country cuts itself free from the euro. 

Stocks slipped early in Madrid, then turned positive and were up 0.1 percent after U.S. markets opened. France's CAC-40 rose 0.1 percent, and Germany's DAX gained 0.3 percent. 

In the U.S., the Dow rose 162.57 points, or 1.3 percent, to close at 12,573.80. The Standard & Poor's 500 index gained 15.25 points to 1,324.18, and the Nasdaq composite rose 33.34 to 2,843.07. Trading was light for a second day. 

Investors sold U.S. government debt, an indication that they were willing to move money into riskier assets. The yield on the benchmark 10-year U.S. Treasury note climbed 0.08 percentage point to 1.67 percent. 

Michael Kors Holdings, a high-end clothing company, rose $2.06, or 5 percent, to $40.24 after reporting that its fourth-quarter profit more than tripled on strong demand grew for its luxury clothing and accessories. 

The company also boosted its earnings forecast for the quarter and the year. Luxury spending has recovered from the recession faster than other consumer spending. Stocks of other upscale retailers, like Nordstrom, also rose. 

Among other stocks making big moves: 

”” VeriFone Systems, an electronic payments company, fell $2.02, or 6 percent, to $31.92. A jury ruled against it last week in a patent dispute, and VeriFone said late Monday that it was booking $18 million in expenses. 

”” A123 Systems, which makes batteries for electric cars, jumped 54 cents, or 52 percent, to $1.58 after saying it had developed new lithium ion technology capable of operating in extreme heat or cold. Heat generated by powerful next-generation batteries is one of the biggest hurdles in developing cars that do not use fossil fuels. 

”” Textron, which makes planes, rose 94 cents, or 4 percent, to $24.52, one of the biggest gains in the S&P 500. Business jet operator NetJets said it plans to spend up to $9.6 billion on planes from Textron's Cessna unit and from Bombardier. 

”” First Solar, the world's largest maker of a type of solar panel, rose $2.62, or 21.2 percent, to $14.95. It reported strong demand from Europe and will delay the closing of a German plant.


----------



## bigdog

Source: http://finance.yahoo.com 

US stocks end lower as Europe teeters; Dow off 77

Stocks end lower as Italy's borrowing costs surge; Cyprus warns it may need a bailout


 *The NYSE DOW closed  	LOWER ▼	-77.42	points or ▼	-0.62%	Wednesday, 13 June 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,496.38	▼	-77.42	▼	-0.62%	
	Nasdaq____	2,818.61	▼	-24.46	▼	-0.86%	
	S&P_500__	1,314.88	▼	-9.30	▼	-0.70%	
	30_Yr_Bond	2.711	▼	-0.06	▼	-2.20%	

NYSE Volume	 3,510,391,000 			 		 	
Nasdaq Volume	 1,665,758,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,483.81	▲	10.07	▲	0.18%	
	DAX_____	6,152.49	▼	-8.75	▼	-0.14%	
	CAC_40__	3,030.04	▼	-16.87	▼	-0.55%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,111.50	▼	-6.80	▼	-0.17%	
	Shanghai_Comp	2,318.92	▲	29.13	▲	1.27%	
	Taiwan_Weight	7,088.83	▲	16.75	▲	0.24%	
	Nikkei_225____	8,587.84	▲	51.12	▲	0.60%	
	Hang_Seng____	19,026.52	▲	53.93	▲	0.82%	
	Strait_Times___	2,786.88	▼	-10.20	▼	-0.36%	
	NZX 50 Index__	3,381.73	▼	-43.87	▼	-1.28%	

http://finance.yahoo.com/news/us-st...1iNTlkLTExZTEtODdiYS05NmMxMDAwZGYwMTI-;_ylv=3

*US stocks end lower as Europe teeters; Dow off 77

Stocks end lower as Italy's borrowing costs surge; Cyprus warns it may need a bailout*

By Christina Rexrode, AP Business Writer

 U.S stocks skidded Wednesday, a looming election in Greece and the broader debt maelstrom in Europe their ominous backdrop. 

Major market indexes wavered for much of the day but fell sharply after the finance minister of Cyprus warned that his country may seek its own bailout this week, stoking the uneasy feeling that the crisis is far from over. 

In a troubling sign, Spain's 10-year borrowing rate inched up to 6.71 percent from 6.67 percent. Other countries in Europe have had to seek bailouts when their borrowing rates hit 7 percent. 

European leaders said over the weekend that they will lend up to $125 billion to Spain's banks, but that has not soothed markets. Investors want more details about the plan, including where the money would come from and how likely it is that Spain would pay it back. 

Investors aren't even sure they can believe the announcements out of Europe, said Jeff Sica, president and chief investment officer of SICA Wealth Management in Morristown, N.J. 

"(Spanish Prime Minister Mariano) Rajoy came out a few weeks ago and said Spain didn't need money, and then he needs 100 billion euro," Sica said. "There's not a level of trust where people could say, 'The people in charge of this crisis have it under control.'" 

Moody's, the credit ratings agency, downgraded Spain's government debt three notches late Wednesday, placing it one level above junk status. It downgraded Cyprus's debt by two, pushing it deeper into junk rating. 

Italy ”” which, like Cyprus, could be the next flashpoint in the debt crisis ”” had setbacks of its own. Its 10-year borrowing rate rose to 6.07 percent from 6.02 percent, and the interest rate on its one-year bonds also rose sharply. 

Greece will hold elections Sunday, and voters may endorse a party that wants to cancel the terms of Greece's own bailout. That would almost certainly force Greece to leave the euro currency. 

Greece's elections are especially hard to predict because rules there forbid polling in the two weeks before an election, said Jim McDonald, chief investment strategist at Northern Trust in Chicago. 

So "in a void of real developments," McDonald said, investors are hard-pressed to figure out how to trade, which helps explain the market's whiplash-inducing changes this week. 

The Dow Jones industrial average shed 77.42 points to end at 12,496.38 after another day of volatile trading. The Dow had been down as much as 120 points and up as much as 24 points. That followed a triple-digit gain on Tuesday and a triple-digit loss on Monday. 

The Standard & Poor's 500 index fell 9.30 points to 1,314.88, and the Nasdaq composite index fell 24.46 points to 2,818.61. 

Richard Ross, global technical strategist at Auerbach Grayson in New York, said he's still bullish on U.S. stocks. He thinks their decline throughout May, perhaps a necessary correction, means they're ready to charge ahead. 

The market's inability to make up its mind this week, he said, is a result of investors trading on news headlines rather than examining the fundamentals of individual stocks. 

"The sovereign debt crisis, the Greek elections, the Egyptian elections ”” if you are basing an investment strategy around these headlines, you will be paralyzed," Ross said. 

The interest rate on the U.S. 10-year Treasury note fell to 1.60 from 1.66 percent. Investors moved money into one of the few places where they think it will be safe, with the U.S. government. 

Big movers included JPMorgan Chase, which rose 53 cents to $34.30 after CEO Jamie Dimon testified to Congress about the bank's surprise $2 billion trading loss. Dell jumped 30 cents to $12.28 after the computer maker said it would begin paying its first shareholder dividend. Cigarette maker Philip Morris International rose 69 cents to $85.70 after announcing it would buy back more of its own stock. 

Scotts Miracle-Gro, which makes lawn-care products, fell $2.84 to $40.21 after issuing weak forecasts for profit and revenue. Cobalt International Energy fell $1.36 to $21.67 after announcing it will abandon a Gulf of Mexico well that hasn't yielded any commercial hydrocarbons. Nike fell $5.38 to $102.22. 

U.S stocks skidded Wednesday, a looming election in Greece and the broader debt maelstrom in Europe their ominous backdrop. 

Major market indexes wavered for much of the day but fell sharply after the finance minister of Cyprus warned that his country may seek its own bailout this week, stoking the uneasy feeling that the crisis is far from over. 

In a troubling sign, Spain's 10-year borrowing rate inched up to 6.71 percent from 6.67 percent. Other countries in Europe have had to seek bailouts when their borrowing rates hit 7 percent. 

European leaders said over the weekend that they will lend up to $125 billion to Spain's banks, but that has not soothed markets. Investors want more details about the plan, including where the money would come from and how likely it is that Spain would pay it back. 

Investors aren't even sure they can believe the announcements out of Europe, said Jeff Sica, president and chief investment officer of SICA Wealth Management in Morristown, N.J. 

"(Spanish Prime Minister Mariano) Rajoy came out a few weeks ago and said Spain didn't need money, and then he needs 100 billion euro," Sica said. "There's not a level of trust where people could say, 'The people in charge of this crisis have it under control.'" 

Moody's, the credit ratings agency, downgraded Spain's government debt three notches late Wednesday, placing it one level above junk status. It downgraded Cyprus's debt by two, pushing it deeper into junk rating. 

Italy ”” which, like Cyprus, could be the next flashpoint in the debt crisis ”” had setbacks of its own. Its 10-year borrowing rate rose to 6.07 percent from 6.02 percent, and the interest rate on its one-year bonds also rose sharply. 

Greece will hold elections Sunday, and voters may endorse a party that wants to cancel the terms of Greece's own bailout. That would almost certainly force Greece to leave the euro currency


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks surge on expectations of central bank help

Dow Jones average jumps after report says major central banks are ready to keep money flowing

A report that major central banks would be ready to pump money into the financial system after the Greek elections this weekend gave the stock market a late push higher. 

The Reuters report said major central banks were preparing for coordinated action if the results of Greek elections on Sunday strain global financial markets. 

The Dow Jones industrial average jumped 155.53 points to close at 12,651.91 Thursday. That's a gain of 1.2 percent. The Dow jumped 100 points after the report came out then pulled back. 

Investors are on edge ahead of Greece's election this weekend because parties opposed to the terms of the country's financial bailout could take control of the government. If that happens and the country leaves the euro, many fear the currency union could be torn apart and European banks could fail. 

The stock market began climbing in early trading after a tame inflation reading and another weak jobs report raised expectations that the Federal Reserve would offer more support for the U.S. economy. 

Applications for unemployment benefits rose last week, according to the latest government report. The four-week average increased for a third straight week, another sign that the jobs market remains weak. 

The government's main measure of U.S. consumer prices fell in May by 0.3 percent, the biggest drop since December 2008. Analysts said the slowdown in price increases could make it more likely that the Fed will announce new steps to boost the economy when it meets next week. Low inflation gives the Fed more leeway to inject money into the financial system, keep interest rates low and encourage borrowing. 

"The markets are higher, I think, because there are enough investors who believe that this morning's data on prices and jobless claims increase the case for more Fed easing as soon as next week's meeting," said Clark Yingst, chief market analyst at the securities and banking firm Joseph Gunnar. 

 *The NYSE DOW closed  	HIGHER ▲	155.53	points or ▲	1.24%	Thursday, 14 June 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,651.91	▲	155.53	▲	1.24%	
	Nasdaq____	2,836.33	▲	17.72	▲	0.63%	
	S&P_500__	1,329.10	▲	14.22	▲	1.08%	
	30_Yr_Bond	2.708	▼	0.00	▼	-0.11%	

NYSE Volume	 3,657,875,250 			 		 	
Nasdaq Volume	 1,640,681,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,467.05	▼	-16.76	▼	-0.31%	
	DAX_____	6,138.61	▼	-13.88	▼	-0.23%	
	CAC_40__	3,032.45	▲	2.41	▲	0.08%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,089.80	▼	-21.70	▼	-0.53%	
	Shanghai_Comp	2,295.95	▼	-22.98	▼	-0.99%	
	Taiwan_Weight	7,075.10	▼	-13.73	▼	-0.19%	
	Nikkei_225____	8,568.89	▼	-18.95	▼	-0.22%	
	Hang_Seng____	18,808.40	▲	53.93	▼	-1.15%	
	Strait_Times___	2,773.81	▼	-13.07	▼	-0.47%	
	NZX 50 Index__	3,416.09	▲	34.35	▲	1.02%	

http://finance.yahoo.com/news/stocks-surge-expectations-central-bank-201433134.html

*Stocks surge on expectations of central bank help
Dow Jones average jumps after report says major central banks are ready to keep money flowing*

By Matthew Craft, AP Business Writer

A report that major central banks would be ready to pump money into the financial system after the Greek elections this weekend gave the stock market a late push higher. 

The Reuters report said major central banks were preparing for coordinated action if the results of Greek elections on Sunday strain global financial markets. 

The Dow Jones industrial average jumped 155.53 points to close at 12,651.91 Thursday. That's a gain of 1.2 percent. The Dow jumped 100 points after the report came out then pulled back. 

Investors are on edge ahead of Greece's election this weekend because parties opposed to the terms of the country's financial bailout could take control of the government. If that happens and the country leaves the euro, many fear the currency union could be torn apart and European banks could fail. 

The stock market began climbing in early trading after a tame inflation reading and another weak jobs report raised expectations that the Federal Reserve would offer more support for the U.S. economy. 

Applications for unemployment benefits rose last week, according to the latest government report. The four-week average increased for a third straight week, another sign that the jobs market remains weak. 

The government's main measure of U.S. consumer prices fell in May by 0.3 percent, the biggest drop since December 2008. Analysts said the slowdown in price increases could make it more likely that the Fed will announce new steps to boost the economy when it meets next week. Low inflation gives the Fed more leeway to inject money into the financial system, keep interest rates low and encourage borrowing. 

"The markets are higher, I think, because there are enough investors who believe that this morning's data on prices and jobless claims increase the case for more Fed easing as soon as next week's meeting," said Clark Yingst, chief market analyst at the securities and banking firm Joseph Gunnar. 

Yingst said the market could easily switch directions in the coming days. "Traders are just following the trend one way on one day, but are perfectly happy following it the other way the next." 

The Standard & Poor's 500 rose 14.22 points to 1,329.10. The Nasdaq composite gained 17.72 points to 2,836.33. 

The gains were broad. All 10 industry groups in the S&P 500 rose. International Game Technology led the S&P with a 14.3 percent leap, following the company's announcement that it would buy up to $1 billion of its own stock. The stock jumped $1.90 to $15.12. 

Just the whiff of another round of help from the Fed has been enough to shoot stocks higher in recent weeks, but the gains often disappear as quickly as they arrive. Last Wednesday, the Dow posted its best day this year, surging 286 points. Comments from a Fed official that hinted at more stimulus helped launch the rally. 

The enthusiasm fizzled the next day, however, after Fed Chairman Ben Bernanke told a closely watched Congressional hearing that no new steps were being contemplated at the moment. 

The question of will or won't the Fed act next week is top of mind for investors. The Fed's latest round of bond purchases winds down at the end of this month, and market players wonder whether a third is on the way, or if the current program might be extended. By making trillions of dollars' worth of bond purchases, the Fed helps keep interest rates ultra-low and encourages investors to put money into other assets, like stocks. 

"Ultimately, all that matters for investors right now is whether these developments mean the Federal Reserve is more or less likely to ease policy in order to support what they may see as an insufficiently strong economic recovery," said Dan Greenhaus, chief global strategist at the brokerage BTIG, in a note to clients. 

In Europe, borrowing rates for Spain touched a record high Thursday after the rating agency Moody's cut its credit rating to one notch above junk status. Spain's benchmark 10-year bond hit 6.96 percent before pulling back. 

Major stock indexes in Europe barely budged. Greek stocks were the exception. Athens' main index surged 10 percent following rumors that elections this weekend will yield a government that can keep the country in the euro. Greek law forbids the release of new public opinion polls in the last two weeks before the election. 

Among stocks making big moves: 

”” Nokia plunged 15 percent, or 44 cents, to $2.35. The cellphone maker cut its earnings forecast and announced plans to eliminate $2 billion in costs by the end of next year. Nokia said it will close its main manufacturing plant in Finland, shutter research facilities in Germany and Canada and lay off 10,000 employees. 

”” Kroger rose 6 percent after the grocery store chain raised its profit forecast for the year. The Cincinnati-based company, which operates Ralphs, Food 4 Less and other grocery stores, also announced it will spend $1 billion to buy back its stock. Kroger's stock gained $1.29 to $22.58. 

”” Winnebago Industries reported that its quarterly profit more than tripled, mainly because of higher prices for its vehicles. The results topped analysts' expectations. Winnebago's stock rose 3 percent, or 23 cents, to $9.22.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks finish at 1-month high as investors turn their attention to an election in Greece

Stocks recorded their third big gain of the week and closed at a one-month high Friday because of expectations that the central banks of countries around the world will step in to limit the damage from a debt crisis in Europe. 

The Dow Jones industrial average climbed 115 points. 

Now investors wait for a crucial election on Sunday in Greece that will help determine whether that country stops using the euro as its currency. Such an exit would destabilize financial markets. 

Mario Draghi, president of the European Central Bank, said his institution stood ready to support Europe's banking system by continuing to lend money to solvent banks. He also appeared to leave open the possibility of an interest rate cut. 

The Dow rose 115.26 points to close at 12,767.17, its highest finish since May 11. The Standard & Poor's 500 index climbed 13.74 points to 1,342.84, also its highest since May 11. The Nasdaq composite index rose 36.47 points to 2,872.80. 

For the week, the Dow rose 0.9 percent, the S&P 1 percent and the Nasdaq 1.3 percent. 

The week included four moves of 100 points or more for the Dow, the first time that has happened since April: 

”” On Monday, the Dow lost 142 points as enthusiasm faded for a $125 billion rescue of Spanish banks. 

”” On Tuesday, the Dow climbed 162 after a Federal Reserve official said he supported more measures to stimulate the economy. 

”” On Thursday, the Dow gained 155, primarily because of late reports about possible coordinated action by central banks. 

 *The NYSE DOW closed  	HIGHER ▲	115.26	points or ▲	0.91%	Friday, 15 June 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,767.17	▲	115.26	▲	0.91%	
	Nasdaq____	2,872.80	▲	36.47	▲	1.29%	
	S&P_500__	1,342.84	▲	13.74	▲	1.03%	
	30_Yr_Bond	2.694	▼	-0.01	▼	-0.52%	

NYSE Volume	 4,323,237,500 			 		 	
Nasdaq Volume	 2,035,541,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,478.81	▲	11.76	▲	0.22%	
	DAX_____	6,229.41	▲	90.80	▲	1.48%	
	CAC_40__	3,087.62	▲	55.17	▲	1.82%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,107.00	▲	17.20	▲	0.42%	
	Shanghai_Comp	2,306.85	▲	10.90	▲	0.47%	
	Taiwan_Weight	7,155.83	▲	80.73	▲	1.14%	
	Nikkei_225____	8,569.32	▲	0.43	▲	0.01%	
	Hang_Seng____	19,233.94	▲	53.93	▲	2.26%	
	Strait_Times___	2,811.00	▲	37.19	▲	1.34%	
	NZX 50 Index__	3,447.07	▲	30.99	▲	0.91%	

http://finance.yahoo.com/news/stocks-1-month-high-now-205017209.html

*Stocks at 1-month high; now investors watch Greece

Stocks finish at 1-month high as investors turn their attention to an election in Greece*

By Matthew Craft, AP Business Writer 

Stocks recorded their third big gain of the week and closed at a one-month high Friday because of expectations that the central banks of countries around the world will step in to limit the damage from a debt crisis in Europe. 

The Dow Jones industrial average climbed 115 points. 

Now investors wait for a crucial election on Sunday in Greece that will help determine whether that country stops using the euro as its currency. Such an exit would destabilize financial markets. 

Mario Draghi, president of the European Central Bank, said his institution stood ready to support Europe's banking system by continuing to lend money to solvent banks. He also appeared to leave open the possibility of an interest rate cut. 

Draghi said in Frankfurt that the ECB has a "crucial role" in extending credit to banks in times of instability, when banks can't always borrow money on financial markets. 

On Thursday, Reuters reported that ECB, the Federal Reserve, the Bank of England and other global financial authorities were ready to act in concert to limit the fallout from Greece. 

Investors also are more confident about the election itself, said Peter Tuz, a money manager, at Chase Investment Counsel, which runs mutual funds. 

"There's a growing sense of optimism," he said. "The betting now is that the 'let's stay in the euro' segment of the population will win." 

Borrowing costs for Spain were unchanged. They fell slightly for Italy, an indication that investors are feeling a little better about that country's solvency. They have been worried that Italy will have to seek financial rescue. 

The Dow rose 115.26 points to close at 12,767.17, its highest finish since May 11. The Standard & Poor's 500 index climbed 13.74 points to 1,342.84, also its highest since May 11. The Nasdaq composite index rose 36.47 points to 2,872.80. 

For the week, the Dow rose 0.9 percent, the S&P 1 percent and the Nasdaq 1.3 percent. 

The week included four moves of 100 points or more for the Dow, the first time that has happened since April: 

”” On Monday, the Dow lost 142 points as enthusiasm faded for a $125 billion rescue of Spanish banks. 

”” On Tuesday, the Dow climbed 162 after a Federal Reserve official said he supported more measures to stimulate the economy. 

”” On Thursday, the Dow gained 155, primarily because of late reports about possible coordinated action by central banks. 

Energy stocks rose the most Friday. OPEC oil ministers agreed Thursday to keep their production target steady, a compromise meant in part to soothe economically troubled countries. 

A pair of weak economic reports helped push Treasury prices up and yields down. 

A report on U.S. factory production showed a drop in manufacturing, a key driver of economic growth. A gauge of manufacturing in New York sank to its lowest level since November. 

The yield on the 10-year Treasury note fell to 1.60 percent from 1.64 percent Thursday. Traders have been shifting money into the safety of the Treasury market ahead of the Greek election. That higher demand has kept yields near all-time lows. 

Among stocks making big moves: 

”” Microsoft rose 68 cents, or 2.3 percent, to $30.02 following reports that the company is in talks to buy Yammer, a developer of social networks within companies. 

”” Capital One Financial rose 80 cents, or 1.5 percent, to $53.81 after the company said uncollectable and delinquent loans at its credit card business dropped last month. 

”” Defense contractor AAR plunged $1.23, or 10.6 percent, to $10.34. The company updated its forecast for fourth-quarter and fiscal-year earnings, and they were weaker than Wall Street expected. 

”” YPF, Argentina's state-controlled oil and gas producer, rose 72 cents, or 6.9 percent, to $11.17 after Mexican telecommunications billionaire Carlos Slim said he had acquired an 8.4 percent stake in the company.

0451


----------



## bigdog

Source: http://finance.yahoo.com 

US stocks meander despite victory of pro-Europe party in Greek elections; debt crisis festers

Crisis-weary investors scoffed Monday at what had appeared to be a hopeful turn in the European debt crisis: a victory for pro-Europe parties in a Greek election. U.S. stocks were little changed, and borrowing costs for Spain surged to alarming levels. 

Investors appeared fed up with policy makers' inability to resolve a crisis that has bedeviled markets for more than three years. Leaders of the most developed countries are meeting in Mexico to discuss the crisis and the slowing global economy. 

"Even though we avoided the worst-case scenario in Greece, the crisis has entered a new and dangerous phase, and it doesn't end with Greece," said Michelle Gibley, director of international research at the Schwab Center for Financial Research, a division of the Charles Schwab brokerage. 

U.S. indexes opened lower then drifted between modest gains and losses. Homebuilders rallied after a measure of confidence among U.S. builders rose to a five-year high. 

Spanish borrowing rates spiked Monday above levels that forced other countries to take bailouts, a sign that bond investors fear Spain will default on its debts. 

The Dow Jones industrial average closed down 25.35 points, or 0.2 percent, to 12,741.82. The Nasdaq composite index rose 22.53 points, or 0.8 percent, to 2,895.33. It was lifted by Apple, its biggest component, which rose $11.65, or 2 percent, to $585.78. 

Rival tech titan Microsoft will make a "major" announcement after the market closes. Many expect it to introduce a tablet computer that would compete with Apple's market-dominating iPad. 

The Standard & Poor's 500 index rose 1.94 points, or 0.1 percent, to 1,344.78. Of its 10 major industry categories, only financials and energy stocks fell. Banks would be hit hard if the European crisis spun out of control. Energy companies followed oil prices lower. 

 *The NYSE DOW closed  	LOWER ▼	-25.35	points or ▼	-0.20%	Monday, 18 June 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,741.82	▼	-25.35	▼	-0.20%	
	Nasdaq____	2,895.33	▲	22.53	▲	0.78%	
	S&P_500__	1,344.78	▲	1.94	▲	0.14%	
	30_Yr_Bond	2.679	▼	-0.02	▼	-0.56%	

NYSE Volume	 3,262,847,000 			 		 	
Nasdaq Volume	 1,615,798,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,491.09	▲	12.28	▲	0.22%	
	DAX_____	6,248.20	▲	18.79	▲	0.30%	
	CAC_40__	3,066.19	▼	-21.43	▼	-0.69%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,183.90	▲	76.90	▲	1.87%	
	Shanghai_Comp	2,316.05	▲	9.20	▲	0.40%	
	Taiwan_Weight	7,281.50	▲	125.67	▲	1.76%	
	Nikkei_225____	8,721.02	▲	151.70	▲	1.77%	
	Hang_Seng____	19,427.81	▲	53.93	▲	1.01%	
	Strait_Times___	2,826.44	▲	15.44	▲	0.55%	
	NZX 50 Index__	3,455.68	▲	8.60	▲	0.25%	

http://finance.yahoo.com/news/us-stocks-meander-european-debt-181717268.html

*US stocks meander as European debt crisis festers

US stocks meander despite victory of pro-Europe party in Greek elections; debt crisis festers*

By Daniel Wagner, AP Business writer 

Crisis-weary investors scoffed Monday at what had appeared to be a hopeful turn in the European debt crisis: a victory for pro-Europe parties in a Greek election. U.S. stocks were little changed, and borrowing costs for Spain surged to alarming levels. 

Investors appeared fed up with policy makers' inability to resolve a crisis that has bedeviled markets for more than three years. Leaders of the most developed countries are meeting in Mexico to discuss the crisis and the slowing global economy. 

"Even though we avoided the worst-case scenario in Greece, the crisis has entered a new and dangerous phase, and it doesn't end with Greece," said Michelle Gibley, director of international research at the Schwab Center for Financial Research, a division of the Charles Schwab brokerage. 

U.S. indexes opened lower then drifted between modest gains and losses. Homebuilders rallied after a measure of confidence among U.S. builders rose to a five-year high. 

Spanish borrowing rates spiked Monday above levels that forced other countries to take bailouts, a sign that bond investors fear Spain will default on its debts. 

The Dow Jones industrial average closed down 25.35 points, or 0.2 percent, to 12,741.82. The Nasdaq composite index rose 22.53 points, or 0.8 percent, to 2,895.33. It was lifted by Apple, its biggest component, which rose $11.65, or 2 percent, to $585.78. 

Rival tech titan Microsoft will make a "major" announcement after the market closes. Many expect it to introduce a tablet computer that would compete with Apple's market-dominating iPad. 

The Standard & Poor's 500 index rose 1.94 points, or 0.1 percent, to 1,344.78. Of its 10 major industry categories, only financials and energy stocks fell. Banks would be hit hard if the European crisis spun out of control. Energy companies followed oil prices lower. 

On Sunday, Greek voters elected a party that wants to continue a program of international bailout loans that are conditioned on painful budget cuts. Traders had fretted for weeks that a radical leftist party would prevail and reject Europe's unpopular bailout plan. 

The next step, traders feared, would be Greece's dropping the shared currency. Anxiety over a Greek exit was so pronounced that many expected bank runs on Monday if political anti-bailout parties had won the election. 

Yet Greece's situation remains precarious. The anti-bailout party got a big chunk of the vote. There's also no guarantee that the winners will be able to form a government. Elections a month ago failed to produce a governing coalition, leading to Sunday's do-over. 

Many had expected stocks and other risky investments to rally on relief that the conservative party won. But the broader scope of Europe's financial burdens soon overshadowed whatever breathing room the election provided. 

Safe investments rose and riskier ones fell as traders continued their long vigil for a more permanent solution in Europe. Leaders there are considering a centralized system of bank regulation and deposit insurance to complement proposals of closer economic coordination. 

"It doesn't appear that any lasting solution is a possibility any time soon," Schwab's Gibley said. "Until we get some kind of coming together, volatility is likely to continue." 

Attention shifted Monday toward Spain and Italy, both of which will require international help if they can't convince bond investors that their finances are sound. Benchmark stock indexes closed down 3 percent in Spain and 2.8 percent in Italy. 

The yield on the 10-year Treasury note fell to 1.58 percent from 1.63 percent earlier Monday as demand increased for low-risk investments. 

The yield on Spanish 10-year bonds jumped as high as 7.18 percent, the highest since Spain joined the euro. Only a week ago, Europe unveiled a massive bailout of Spain's banks intended to reassure investors about the nation's finances. 

Greece, Ireland and Portugal needed bailouts after their borrowing costs rose above 7 percent. It looks like tiny Cyprus will need a bailout as well. 

The Greek election "should be seen as a significant net positive for markets, but markets don't always react in a rational manner," said David Kelly, chief global strategist for JPMorgan Funds. 

The ISE Homebuilders index rose 34 cents, or 3.5 percent, to $9.98. Lennar, PulteGroup, D.R. Horton, Toll Brothers and Hovnanian Enterprises all rose strongly. 

Giant military contractor SAIC fell 38 cents, or 3.1 percent, to $11.86. The Defense Department said Friday that SAIC had lost its biggest contract to Lockheed Martin, a $4.6 billion deal to run the department's global network. 

Energy prices, which are sensitive to investors' expectations of future economic growth, fell. Benchmark crude for July delivery slid 76 cents to $83.27 per barrel in electronic trading on the New York Mercantile Exchange.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks up sharply on Wall Street on hopes that the Fed will take new action on the economy

Stocks rose sharply on Wall Street Tuesday as traders turned their focus back to corporate news from the U.S. and hopes that the Federal Reserve will come up with a plan to jumpstart the economy. Banks and materials stocks led the market higher. 

The Dow Jones industrial average soared 95.51 points to 12,837.33, its highest close in a month. Microsoft was one of the biggest gainers in the Dow. The stock jumped 3 percent after the company announced a new tablet computer called Surface to compete with the immensely popular iPad from Apple. Microsoft was up 86 cents at $30.70. 

Stock traders are also latching on to recent signals from the Federal Reserve that the central bank may reveal plans to stimulate the economy at the end of its two-day meeting Wednesday. 

"A good portion of today's strong market action is from a hope factor that we're going to get more easing from the Fed," said Peter Cardillo, chief market economist at Rockwell Global Capital. 

Economists say that even if the Fed does not act after its meeting, it will send a clear message that it is standing by to do so if needed. 

Financial companies were among the best performing stocks as investors hoped for Fed action: Bank of America soared 4.5 percent, Citigroup gained 3.5 percent, JPMorgan Chase was up 2.2 percent and Morgan Stanley rose 3 percent. 

Bank investors were also pleased to learn that a federal housing agency will clarify the process under which home lenders are forced to buy back soured home loans. The buybacks have cost banks billions of dollars. The uncertainty surrounding how much loans they will have to repurchase from the government has led them to reduce lending. 

The agency's statement comes just as the housing market is showing signs of healing. American builders broke new ground on more single-family homes in May and requested more permits to build homes and apartments than they have in the past three and a half years. 

The Commerce Department also said April was much better for housing starts than first thought. The government revised the figures up to 744,000, the fastest building pace since October 2008. 

Material stocks rose on the prospect of demand from home construction. US Steel rose over 9 percent and Freeport-McMoran Copper rose over 3 percent. 

In other trading, the Standard & Poor's 500 index rose 13.20 points to 1,357.98. Seven of the 10 industry groups in the S&P rose. The technology-heavy Nasdaq composite index rose 34.43 points to 2,929.76. The Dow Jones Utility average touched the highest level since August 2008 before closing slightly lower. 

 *The NYSE DOW closed  	HIGHER ▲	95.51	points or ▲	0.75%	Tuesday, 19 June 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,837.33	▲	95.51	▲	0.75%	
	Nasdaq____	2,929.76	▲	34.43	▲	1.19%	
	S&P_500__	1,357.98	▲	13.20	▲	0.98%	
	30_Yr_Bond	2.727	▲	0.05	▲	1.79%	

NYSE Volume	 3,815,346,000 			 		 	
Nasdaq Volume	 1,845,445,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,586.31	▲	95.22	▲	1.73%	
	DAX_____	6,363.36	▲	115.16	▲	1.84%	
	CAC_40__	3,117.92	▲	51.73	▲	1.69%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,167.40	▼	-16.50	▼	-0.39%	
	Shanghai_Comp	2,300.79	▼	-15.26	▼	-0.66%	
	Taiwan_Weight	7,273.13	▼	-8.37	▼	-0.11%	
	Nikkei_225____	8,655.87	▼	-65.15	▼	-0.75%	
	Hang_Seng____	19,416.67	▲	53.93	▼	-0.06%	
	Strait_Times___	2,841.25	▲	17.03	▲	0.60%	
	NZX 50 Index__	3,480.38	▲	24.71	▲	0.71%	

http://finance.yahoo.com/news/stocks-snap-higher-hopes-fed-175329183.html

*Stocks snap higher on hopes for new Fed action

Stocks up sharply on Wall Street on hopes that the Fed will take new action on the economy*

By Pallavi Gogoi, AP Business Writer

Stocks rose sharply on Wall Street Tuesday as traders turned their focus back to corporate news from the U.S. and hopes that the Federal Reserve will come up with a plan to jumpstart the economy. Banks and materials stocks led the market higher. 

The Dow Jones industrial average soared 95.51 points to 12,837.33, its highest close in a month. Microsoft was one of the biggest gainers in the Dow. The stock jumped 3 percent after the company announced a new tablet computer called Surface to compete with the immensely popular iPad from Apple. Microsoft was up 86 cents at $30.70. 

Stock traders are also latching on to recent signals from the Federal Reserve that the central bank may reveal plans to stimulate the economy at the end of its two-day meeting Wednesday. 

"A good portion of today's strong market action is from a hope factor that we're going to get more easing from the Fed," said Peter Cardillo, chief market economist at Rockwell Global Capital. 

Economists say that even if the Fed does not act after its meeting, it will send a clear message that it is standing by to do so if needed. 

Financial companies were among the best performing stocks as investors hoped for Fed action: Bank of America soared 4.5 percent, Citigroup gained 3.5 percent, JPMorgan Chase was up 2.2 percent and Morgan Stanley rose 3 percent. 

Bank investors were also pleased to learn that a federal housing agency will clarify the process under which home lenders are forced to buy back soured home loans. The buybacks have cost banks billions of dollars. The uncertainty surrounding how much loans they will have to repurchase from the government has led them to reduce lending. 

The agency's statement comes just as the housing market is showing signs of healing. American builders broke new ground on more single-family homes in May and requested more permits to build homes and apartments than they have in the past three and a half years. 

The Commerce Department also said April was much better for housing starts than first thought. The government revised the figures up to 744,000, the fastest building pace since October 2008. 

Material stocks rose on the prospect of demand from home construction. US Steel rose over 9 percent and Freeport-McMoran Copper rose over 3 percent. 

In other trading, the Standard & Poor's 500 index rose 13.20 points to 1,357.98. Seven of the 10 industry groups in the S&P rose. The technology-heavy Nasdaq composite index rose 34.43 points to 2,929.76. The Dow Jones Utility average touched the highest level since August 2008 before closing slightly lower. 

In Europe, borrowing costs eased for Spain: its benchmark 10-year bond yield fell below the key 7 percent level to 6.99 percent. 

Spain raised $4.28 billion in an auction of 12- and 18-month bills, more than analysts had expected. However Spain's cost to raise the money skyrocketed. The Spanish government had to pay an interest rate of 5.07 percent for the 12-month bills, up sharply from 2.98 percent at the last such auction on May 14. 

Still, investors were heartened to see that people were willing to lend Spain money. 

"Even though it cost Spain dearly and yields rose to a record, the fact is that it was not shut out of the markets," said Cardillo. 

Major European stock markets rose: Spain's IBEX 35 index rose 2.7 percent. Germany's DAX added 1.8 percent and France's CAC-40 rose 1.7 percent. 

The dollar and Treasury prices fell as traders moved money out of low-risk assets. The dollar fell about a penny against the euro to $1.27 and the yield on the 10-year Treasury note rose to 1.62 percent from 1.58 percent late Monday. 

Among other stocks making big moves: 

”” Oracle soared 84 cents, or about 3 percent, to $27.96 after the software maker surprised investors with the early release of its fourth-quarter earnings. The results beat Wall Street's forecasts, and the company said new software licenses increased sharply. 

”” J.C. Penney plunged $2.08, or 8.5 percent, to $22.25 after the chain store announced that Michael Francis, the former Target executive brought in to help redefine the company's brand, was leaving the company. It was the biggest loss of any stock in the S&P 500. 

”” Barnes & Noble fell 61 cents, or 4 percent, to $14.63 after the book store chain reported a wider loss than Wall Street was expecting. It also reported that its Nook e-reader sales fell 11 percent in the quarter. 

”” Walgreen plunged $1.87, or 5.85 percent, to $30.09 after the company said it is buying a $6.7 billion stake in European health and beauty retailer Alliance Boots. Investors worried about a deal that would expose the biggest U.S. drugstore chain to a continent beset by worries of a recession.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks drift lower on gloomy economic outlook from the Federal Reserve, P&G disappoints		

It's going to take more than low interest rates to fire up investors. 

The Federal Reserve's latest plan to help the economy failed to impress Wall Street on Wednesday. Stocks finished slightly lower for the day, and not much better than they were before the Fed announcement. 

The Fed said it would keep its "Operation Twist" program going through the end of the year rather than let it expire at the end of this month. It aims to keep long-term interest rates low by selling the Fed's short-term U.S. government debt and buying long-term debt. 

Economists have pointed out that long-term interest rates are already near record lows, and that consumers and businesses who aren't borrowing today won't necessarily borrow tomorrow just because it's a little cheaper. 

The Fed also sharply lowered its outlook for U.S. economic growth. Chairman Ben Bernanke said the economy would grow no more than 2.4 percent this year, down from an April forecast of no more than 2.9 percent. 

"What the markets really don't like was he ratcheted down growth sharply," said Doug Cote, chief market strategist at ING Investment Management. 

The Dow Jones industrial average closed down 12.94 points, or a tenth of a percent, at 12,824.39. The Standard & Poor's 500 index fell 2.29 points, or 0.2 percent, to 1,355.69. The Nasdaq composite index rose 0.69 points, a fraction of a percent, to 2,930.45. 

Indexes dipped right after the Fed's announcement came out at 12:30 p.m., then quickly went back to where they were. It was the latest knee-jerk response to news headlines in a stock market that has been buffeted in recent weeks by fears that Europe's 17-nation currency union could rupture. 

 *The NYSE DOW closed  	LOWER ▼	-12.94	points or ▼	-0.10%	Wednesday, 20 June 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,824.39	▼	-12.94	▼	-0.10%	
	Nasdaq____	2,930.45	▲	0.69	▲	0.02%	
	S&P_500__	1,355.69	▼	-2.29	▼	-0.17%	
	30_Yr_Bond	2.724	▼	0.00	▼	-0.11%	

NYSE Volume	 3,695,711,500 			 		 	
Nasdaq Volume	 1,571,459,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,622.29	▲	35.98	▲	0.64%	
	DAX_____	6,392.13	▲	28.77	▲	0.45%	
	CAC_40__	3,126.52	▲	8.60	▲	0.28%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,176.80	▲	9.40	▲	0.23%	
	Shanghai_Comp	2,292.88	▼	-7.92	▼	-0.34%	
	Taiwan_Weight	7,334.63	▲	61.50	▲	0.85%	
	Nikkei_225____	8,752.31	▲	96.44	▲	1.11%	
	Hang_Seng____	19,518.85	▲	53.93	▲	0.53%	
	Strait_Times___	2,852.14	▲	9.73	▲	0.34%	
	NZX 50 Index__	3,444.79	▼	-35.59	▼	-1.02%	

http://finance.yahoo.com/news/feds-latest-action-doesnt-impress-175717898.html

*Fed's latest action doesn't impress investors

Stocks drift lower on gloomy economic outlook from the Federal Reserve, P&G disappoints*

By Joshua Freed, AP Business Writer

It's going to take more than low interest rates to fire up investors. 

The Federal Reserve's latest plan to help the economy failed to impress Wall Street on Wednesday. Stocks finished slightly lower for the day, and not much better than they were before the Fed announcement. 

The Fed said it would keep its "Operation Twist" program going through the end of the year rather than let it expire at the end of this month. It aims to keep long-term interest rates low by selling the Fed's short-term U.S. government debt and buying long-term debt. 

Economists have pointed out that long-term interest rates are already near record lows, and that consumers and businesses who aren't borrowing today won't necessarily borrow tomorrow just because it's a little cheaper. 

The Fed also sharply lowered its outlook for U.S. economic growth. Chairman Ben Bernanke said the economy would grow no more than 2.4 percent this year, down from an April forecast of no more than 2.9 percent. 

"What the markets really don't like was he ratcheted down growth sharply," said Doug Cote, chief market strategist at ING Investment Management. 

The Dow Jones industrial average closed down 12.94 points, or a tenth of a percent, at 12,824.39. The Standard & Poor's 500 index fell 2.29 points, or 0.2 percent, to 1,355.69. The Nasdaq composite index rose 0.69 points, a fraction of a percent, to 2,930.45. 

Indexes dipped right after the Fed's announcement came out at 12:30 p.m., then quickly went back to where they were. It was the latest knee-jerk response to news headlines in a stock market that has been buffeted in recent weeks by fears that Europe's 17-nation currency union could rupture. 

"It's obvious we're still in a trader's market, and it's a market that is still responding to news events, including the Fed, almost hour by hour, if not minute by minute," said Quincy Krosby, a market strategist with Prudential Financial. 

Stocks spent most of the morning lower. Some of the same weakness being addressed by the Fed has forced Procter & Gamble Co. to reign in recent price increases as people cut back on spending. P&G is the world's largest consumer products company, and sales of its Tide detergent and Duracell batteries, among other things, are a good window into the economy. 

P&G predicted continued slow growth in developed markets and slower growth in China, and cut estimates for fourth-quarter revenue and income. The stock dropped $1.83, 2.9 percent, to $60.39, making it the biggest decliner in the Dow Jones industrial average. 

Next week, new figures on personal income and consumer sentiment will be released. The reports could signal more retrenchment by the U.S. consumer. 

Actuant Corp., which makes industrial products, fell 94 cents, or 3.4 percent to $26.51 after predicting "uneven end market demand, notably in Europe and China." The company predicted revenue for its current and next fiscal years will be less than analysts had been expecting. 

Adobe Systems dropped 90 cents, or 2.7 percent, to $31.99. The software maker, whose products include Adobe Reader and Photoshop, issued a profit forecast late Tuesday that was weaker that analysts were expecting. Its income for the latest quarter fell 2 percent on higher expenses. 

La-Z-Boy plunged almost 13 percent after earnings came in far below what analysts were expecting. The stock lost $1.66 to close at $11.47. 

Markets in Europe rose and the euro strengthened against the dollar. Benchmark stock indexes rose 0.5 percent in Germany, 0.6 percent in Britain and 2.1 percent in Italy. 

Borrowing costs fell in Europe, too. Yields on government bonds in Spain and Italy fell, a signal that investors are less worried about the finances of those two countries. 

The yield on the benchmark 10-year Treasury note rose to 1.63 percent from 1.62 percent the day before as investors moved money out of low-risk assets. 

Randy Warren, chief investment officer for Warren Financial Service, lamented the focus on the Fed, saying investors should be thinking about where to put their money considering Europe's problems and a weak euro. He favors American companies who mostly do business in the U.S. 

"There's plenty to choose from for investors," he said. "They just have to think more than five minutes ahead."


----------



## bigdog

Source: http://finance.yahoo.com

Pile-up of bad economic news sends stocks sharply lower on Wall Street; Dow plunges 251

Investors yanked money out of stocks Thursday after new reports from the U.S. and China pointed to a sharp slowdown in manufacturing. 

The Dow Jones industrial plunged 251 points, the second-biggest drop this year. 

Losses in energy and materials companies led a widespread rout on the stock market. The Dow started sinking after 10 a.m., when the Philadelphia branch of the Federal Reserve reported a sharp contraction in manufacturing in the Northeast. The losses accelerated throughout the day. 

"The news has been horrible out there," said Uri Landesman, president of Platinum Partners. "The U.S. economy is slowing down. And China's growth is definitely under question." 

The bad news kept piling up as the day went on. Mining and other companies that made basic materials fell hard after prices for commodities such as copper and oil dropped. Goldman Sachs analysts advised their clients to bet that stocks would fall, and speculation swirled that Moody's would cut the credit ratings of 17 banks. 

The Dow lost 250.82 points to close at 12,573.57, a drop of 2 percent. Alcoa lost 37 cents to $8.55. A new report that manufacturing slowed in China was troubling since that country's economy has helped drive global economic growth over the past four years. China is a major importer of copper and other basic materials. 

The Standard & Poor's 500 index lost 30.18 points to 1,325.51, a decline of 2.2 percent. The Nasdaq composite fell 71.36 points, 2.4 percent, to 2,859.09. All three indexes lost their gains for the week. 

The late-morning blows to investor confidence were just the latest reasons for people to pull money of out stocks. Earlier Thursday, the Labor Department reported that the four-week average of applications for unemployment benefits, a figure closely watched by economists, jumped to the highest level since September. The National Association of Realtors also reported that sales of previously occupied homes dropped 1.5 percent in May. 

 *The NYSE DOW closed  	LOWER ▼	-250.82	points or ▼	-1.96%	Thursday, 21 June 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,573.57	▼	-250.82	▼	-1.96%	
	Nasdaq____	2,859.09	▼	-71.36	▼	-2.44%	
	S&P_500__	1,325.51	▼	-30.18	▼	-2.23%	
	30_Yr_Bond	2.688	▼	-0.04	▼	-1.32%	

NYSE Volume	 3,935,650,250 			 		 	
Nasdaq Volume	 1,795,443,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,566.36	▼	-55.93	▼	-0.99%	
	DAX_____	6,343.13	▼	-49.00	▼	-0.77%	
	CAC_40__	3,114.22	▼	-12.30	▼	-0.39%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,133.70	▼	-43.10	▼	-1.03%	
	Shanghai_Comp	2,260.88	▼	-32.00	▼	-1.40%	
	Taiwan_Weight	7,279.05	▼	-55.58	▼	-0.76%	
	Nikkei_225____	8,824.07	▲	71.76	▲	0.82%	
	Hang_Seng____	19,265.07	▲	53.93	▼	-1.30%	
	Strait_Times___	2,830.15	▼	-25.53	▼	-0.89%	
	NZX 50 Index__	3,409.39	▼	-35.40	▼	-1.03%	

http://finance.yahoo.com/news/dow-loses-251-second-biggest-201443068.html

*Dow loses 251, it second-biggest drop of the year

Pile-up of bad economic news sends stocks sharply lower on Wall Street; Dow plunges 251*

By Matthew Craft, AP Business Writer

Investors yanked money out of stocks Thursday after new reports from the U.S. and China pointed to a sharp slowdown in manufacturing. 

The Dow Jones industrial plunged 251 points, the second-biggest drop this year. 

Losses in energy and materials companies led a widespread rout on the stock market. The Dow started sinking after 10 a.m., when the Philadelphia branch of the Federal Reserve reported a sharp contraction in manufacturing in the Northeast. The losses accelerated throughout the day. 

"The news has been horrible out there," said Uri Landesman, president of Platinum Partners. "The U.S. economy is slowing down. And China's growth is definitely under question." 

The bad news kept piling up as the day went on. Mining and other companies that made basic materials fell hard after prices for commodities such as copper and oil dropped. Goldman Sachs analysts advised their clients to bet that stocks would fall, and speculation swirled that Moody's would cut the credit ratings of 17 banks. 

The Dow lost 250.82 points to close at 12,573.57, a drop of 2 percent. Alcoa lost 37 cents to $8.55. A new report that manufacturing slowed in China was troubling since that country's economy has helped drive global economic growth over the past four years. China is a major importer of copper and other basic materials. 

The Standard & Poor's 500 index lost 30.18 points to 1,325.51, a decline of 2.2 percent. The Nasdaq composite fell 71.36 points, 2.4 percent, to 2,859.09. All three indexes lost their gains for the week. 

The late-morning blows to investor confidence were just the latest reasons for people to pull money of out stocks. Earlier Thursday, the Labor Department reported that the four-week average of applications for unemployment benefits, a figure closely watched by economists, jumped to the highest level since September. The National Association of Realtors also reported that sales of previously occupied homes dropped 1.5 percent in May. 

All this came a day after the Federal Reserve slashed its estimates for U.S. economic growth and said it would extend a bond-buying program through the end of the year, disappointing investors who had hoped for bolder steps from the central bank to get the economy going again. 

"What's worse is that things are getting weaker without the Fed coming in," said Rex Macey, chief investment officer at Wilmington Trust Investment Advisors. "We had a run-up in the market this month because people had been expecting Fed action. Today, the market is giving it back." 

A manufacturing survey for countries that use the European currency also showed a contraction. The reports out of China and Europe helped sink commodity prices. Copper and platinum fell 2 percent. Benchmark U.S. crude hit its lowest level in almost nine months, $78.20 a barrel. That's down almost 30 percent from a peak in February. 

The Philadelphia Fed index pushed Treasury prices up and yields down as traders shifted money into the their favorite hiding spot. The yield on the 10-year note slipped to 1.61 percent, down from 1.63 percent late Wednesday. 

Material and energy companies, whose fortunes are closely tied to economic swings, led all 10 industry groups within the S&P 500 index lower. Just 12 of the 500 companies in the index rose. 

In Europe, auditors calculated that Spain's troubled banks need as much as â‚¬62 billion ($78.76 billion). A Bank of Spain official said this scenario was much less than the â‚¬100 billion that the 17 countries in the euro currency union said they would provide for Spain's banking sector. 

Among stocks making big moves: 

”” ConAgra Foods, a major food maker whose brands include Hebrew National and Chef Boyardee, gained 2.7 percent. The company's adjusted earnings and sales topped Wall Street's expectations. The stock climbed 66 cents to $25.26. 

”” Bed Bath & Beyond plunged 17 percent, the most in the S&P 500. The retailer said it expects weaker earnings in the current quarter than analysts expected even though it reported better profits after the market closed Wednesday. Bed Bath & Beyond's stock lost $12.50 to $61.17. 

”” Red Hat slumped 6.2 percent. The largest provider of the Linux open source operating system for computers reported weak figures for deferred revenue. Red Hat's stock dropped $3.50 to $53.00.


----------



## bigdog

Source: http://finance.yahoo.com

Stocks rise on Wall Street; banks help lead the way despite Moody's downgrade

The stock market bounced back Friday, a day after suffering its second-worst loss this year. Bank of America, JPMorgan Chase and other big lenders posted solid gains even though many of them had their credit ratings cut the day before. 

Analysts said the downgrades from Moody's Investor Service late Thursday had been expected for months and removed some of the uncertainty that had been weighing on bank stocks. 

"It's been like a cloud over the sector," said Brian Gendreau, market strategist with the broker Cetera Financial. "And look at who's going up: bank stocks. There are obviously some people who thought it would be much worse." 

The Dow Jones industrial average gained 67.21 to close at 12,640.78. Bank of America gained 1.5 percent, or 12 cents, to $7.94, one of the best showings of the 30 stocks in the Dow. 

In a note to clients, analysts at the investment bank Keefe Bruyette & Woods called Morgan Stanley "the clear winner." Some analysts had expected Moody's to lower Morgan Stanley's rating by three notches, instead of the two-notch cut it received. 

Bank stocks rose across the board. Morgan Stanley rose 18 cents to $14.14. JPMorgan Chase climbed 48 cents to $35.99. 

The Standard & Poor's 500 index rose 9.51 points to 1,335.02 and the Nasdaq composite index climbed 33.33 points to 2,892.42. The gains turned the Nasdaq positive for the week. 				

 *The NYSE DOW closed  	HIGHER ▲	67.21	points or ▲	0.53%	Friday, 22 June 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,640.78	▲	67.21	▲	0.53%	
	Nasdaq____	2,892.42	▲	33.33	▲	1.17%	
	S&P_500__	1,335.02	▲	9.51	▲	0.72%	
	30_Yr_Bond	2.756	▲	0.07	▲	2.53%	

NYSE Volume	 4,955,749,000 			 		 	
Nasdaq Volume	 3,320,032,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,513.69	▼	-52.67	▼	-0.95%	
	DAX_____	6,263.25	▼	-79.88	▼	-1.26%	
	CAC_40__	3,090.90	▼	-23.32	▼	-0.75%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,093.80	▼	-39.90	▼	-0.97%	
	Shanghai_Comp	2,260.88	▼	-32.00	▼	-1.40%	
	Taiwan_Weight	7,222.05	▼	-57.00	▼	-0.78%	
	Nikkei_225____	8,798.35	▼	-25.72	▼	-0.29%	
	Hang_Seng____	18,995.13	▲	53.93	▼	-1.40%	
	Strait_Times___	2,828.09	▼	-2.06	▼	-0.07%	
	NZX 50 Index__	3,399.20	▼	-10.19	▼	-0.30%	

http://finance.yahoo.com/news/us-stocks-bounce-back-big-205350759.html

*US stocks bounce back; big banks move higher

Stocks rise on Wall Street; banks help lead the way despite Moody's downgrade*

By Matthew Craft, AP Business Writer | Associated Press – 6 minutes ago

The stock market bounced back Friday, a day after suffering its second-worst loss this year. Bank of America, JPMorgan Chase and other big lenders posted solid gains even though many of them had their credit ratings cut the day before. 

Analysts said the downgrades from Moody's Investor Service late Thursday had been expected for months and removed some of the uncertainty that had been weighing on bank stocks. 

"It's been like a cloud over the sector," said Brian Gendreau, market strategist with the broker Cetera Financial. "And look at who's going up: bank stocks. There are obviously some people who thought it would be much worse." 

The Dow Jones industrial average gained 67.21 to close at 12,640.78. Bank of America gained 1.5 percent, or 12 cents, to $7.94, one of the best showings of the 30 stocks in the Dow. 

In a note to clients, analysts at the investment bank Keefe Bruyette & Woods called Morgan Stanley "the clear winner." Some analysts had expected Moody's to lower Morgan Stanley's rating by three notches, instead of the two-notch cut it received. 

Bank stocks rose across the board. Morgan Stanley rose 18 cents to $14.14. JPMorgan Chase climbed 48 cents to $35.99. 

The Standard & Poor's 500 index rose 9.51 points to 1,335.02 and the Nasdaq composite index climbed 33.33 points to 2,892.42. The gains turned the Nasdaq positive for the week. 

Information technology stocks had the strongest gains of the 10 industry groups tracked by the S&P 500 index, followed by health care stocks and banks. The gains were small but widespread. All 10 sectors rose. Of the 30 stocks in the Dow, just two fell. 

The Dow and S&P 500 finished the week lower, their first week of losses since June 1. The biggest drop of the week came Thursday, when a trio of weak manufacturing reports stirred fears about the global economy. The Dow lost 251 points, its second-steepest fall this year. The worst was June 1, after a dismal U.S. jobs report rattled markets. 

Even with two days of deep losses, the S&P 500 is still up 1.9 percent this month. To Gendreau, it looks like investors have been overreacting to recent economic reports. "The market is getting jerked around," he said. "The economic data point to a softening economy, but we've had a softening economy for three years now." 

Among other stocks making big moves: 

”” Facebook surged 3.8 percent, rising $1.21 to $33.05. A Nomura analyst started covering the social-networking company with a price target of $40 and a "buy" recommendation. Brian Nowak said Facebook could make more money through charging companies for pages. He also thinks the stock looks cheap in comparison to what investors paid for Google at the same age. 

”” Truck leasing company Ryder System plunged 13 percent, the worst decline in the S&P 500 index. The Miami-based company cut its earnings forecast for the second quarter and full year, blaming weak demand for commercial truck rentals and unusually high costs for medical benefits. The stock lost $5.31 to $35.44. 

”” The cruise ship operator Carnival Corp. dropped 2.7 percent after reporting a 92 percent plunge in quarterly profits, largely a result of losses on derivative fuel contracts. The company's brands include the Costa line of cruise ships, whose Concordia capsized off the Italian coast in January. Carnival's stock lost 92 cents to $33.66.

1060


----------



## bigdog

Source: http://finance.yahoo.com 

Europe's latest efforts to quell its financial crisis left investors exasperated Monday, causing steep losses in stock markets on both sides of the Atlantic. 

In Europe, Spain formally asked for help to rescue the country's ailing banks, but its request left many questions unanswered, including how much it needs of the $125 billion loan package offered by other European governments. The uncertainty unsettled markets, pushing borrowing costs higher for Spain's government. Spain's stock market plunged 3.7 percent. 

"Right now it's all about Europe, and confidence is pretty low," said Doug Cote, chief market strategist for ING Investment Management. "The policies that they proposing are too little too late." 

The Dow Jones industrial average dropped 138 points to close at 12,502.66, a loss of 1.1 percent. The broader Standard & Poor's 500 index fell even more, 1.6 percent. 

Big bank stocks slumped. Many analysts expect banks in Europe and the U.S. to suffer from a freeze-up in Europe's financial system if Spain fails to rescue its troubled banks. Spain's banks have been hobbled by loans made during a real-estate bubble, and the government has been inconsistent about how much help it will need to save them. 

Bank of America dropped 4 percent, the biggest fall among the 30 stocks in the Dow Jones industrial average. BofA's stock lost 34 cents to $7.60. JPMorgan Chase fell 67 cents to $35.32 and Citigroup dropped $1.24 to $26.75. 

Analysts worry that Europe's piecemeal approach to its spreading government debt crises may fall short, and the banking system of a large country like Spain could collapse. That could shock tightly connected global financial markets. 						

 *The NYSE DOW closed  	LOWER ▼	-138.12	points or ▼	-1.09%	Monday, 25 June 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,502.66	▼	-138.12	▼	-1.09%	
	Nasdaq____	2,836.16	▼	-56.25	▼	-1.94%	
	S&P_500__	1,313.72	▼	-21.30	▼	-1.60%	
	30_Yr_Bond	2.682	▼	-0.07	▼	-2.69%	

NYSE Volume	 3,445,243,750 			 		 	
Nasdaq Volume	 1,509,282,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,450.65	▼	-63.04	▼	-1.14%	
	DAX_____	6,132.39	▼	-130.86	▼	-2.09%	
	CAC_40__	3,021.64	▼	-69.26	▼	-2.24%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,072.00	▼	-21.80	▼	-0.53%	
	Shanghai_Comp	2,224.11	▼	-36.76	▼	-1.63%	
	Taiwan_Weight	7,166.38	▼	-55.67	▼	-0.77%	
	Nikkei_225____	8,734.62	▼	-63.73	▼	-0.72%	
	Hang_Seng____	18,897.45	▲	53.93	▼	-0.51%	
	Strait_Times___	2,811.19	▼	-16.90	▼	-0.60%	
	NZX 50 Index__	3,401.12	▲	1.93	▲	0.06%	

http://finance.yahoo.com/news/weary-investors-sell-stocks-spain-204249766.html

*Weary investors sell stocks as Spain seeks help

Stocks slide on Wall Street after Spain's request for bank help leaves questions unanswered*

By Matthew Craft, AP Business Writer

Europe's latest efforts to quell its financial crisis left investors exasperated Monday, causing steep losses in stock markets on both sides of the Atlantic. 

In Europe, Spain formally asked for help to rescue the country's ailing banks, but its request left many questions unanswered, including how much it needs of the $125 billion loan package offered by other European governments. The uncertainty unsettled markets, pushing borrowing costs higher for Spain's government. Spain's stock market plunged 3.7 percent. 

"Right now it's all about Europe, and confidence is pretty low," said Doug Cote, chief market strategist for ING Investment Management. "The policies that they proposing are too little too late." 

The Dow Jones industrial average dropped 138 points to close at 12,502.66, a loss of 1.1 percent. The broader Standard & Poor's 500 index fell even more, 1.6 percent. 

Big bank stocks slumped. Many analysts expect banks in Europe and the U.S. to suffer from a freeze-up in Europe's financial system if Spain fails to rescue its troubled banks. Spain's banks have been hobbled by loans made during a real-estate bubble, and the government has been inconsistent about how much help it will need to save them. 

Bank of America dropped 4 percent, the biggest fall among the 30 stocks in the Dow Jones industrial average. BofA's stock lost 34 cents to $7.60. JPMorgan Chase fell 67 cents to $35.32 and Citigroup dropped $1.24 to $26.75. 

Analysts worry that Europe's piecemeal approach to its spreading government debt crises may fall short, and the banking system of a large country like Spain could collapse. That could shock tightly connected global financial markets. 

"It's the same headline risk that we've been dealing with for God knows how long," said Chip Cobb, senior vice president of Bryn Mawr Trust Asset Management in Pennsylvania. "Everybody wants something to happen sooner or later, and nothing's happening." 

The leaders of the 27 countries in the European Union meet Thursday and Friday in Brussels for another summit aimed at reining in the crisis, but market players remain skeptical that Germany will sign off on efforts to quell the crisis. As the region's largest and strongest economy, Germany has to participate for any plan to work. 

"What the market wants is action," Cote said. He said investors wanted to see steps toward binding the weak and stronger economies closer together. 

The dollar and Treasury prices rose as investors shifted money into low-risk investments. The yield on the 10-year Treasury note fell to 1.61 percent from 1.67 percent late Friday. 

In other trading, the S&P 500 index fell 21.30 points to 1,313.72. All 10 of the index's industry groups fell. The Nasdaq composite lost 56.26 points, or 1.9 percent, to 2,836.16. 

Energy stocks were also big losers after the price of crude oil fell again. Benchmark U.S. crude lost 55 cents a barrel to $79.21, continuing a slump that has brought the price down from $110 in late February. Exxon Mobil fell 87 cents to $81.24. 

Energy prices have been falling as traders anticipate that slower growth in China and the crisis in Europe will drag down global economic growth and decrease demand for energy. 

European markets closed sharply lower. Stocks dropped 4 percent in Italy and 2 percent in both France and Germany. Shares of European banks, including Spain's Banco Santander SA and Deutsche Bank AG, sank. 

Borrowing costs rose for Spain and Italy, a sign of skepticism that those countries will be able to pay their debts. The yield on Spain's 10-year government bond rose 0.16 percentage point to 6.58 percent. That's dangerously high. 

Among other stocks making big moves Monday: 

”” Teva Pharmaceutical Industries gained 4 percent after the drugmaker said a federal court reaffirmed patents protecting its multiple sclerosis treatment Copaxone. The stock jumped $1.71 to $39.72. 

”” Chesapeake Energy dropped 8 percent. Reuters reported that the company colluded with a Canadian rival to suppress land prices in areas that were considered rich in oil and natural gas. The stock lost $1.58 to $17.03. 

”” Pfizer and Bristol-Myers Squibb both sank after federal regulators delayed approving their highly touted blood-thinning drug, Eliquis. Bristol-Myers's stock dropped 3 percent, or $1.23, to $34.13. Pfizer's fell 1 percent, or 26 cents, to $22.47.


----------



## bigdog

Source: http://finance.yahoo.com 

Homebuilders led stocks up on Tuesday, helping major indexes recoup some losses from the day before. Rupert Murdoch's News Corp. surged after the media conglomerate said it may split into two companies. 

The Dow Jones industrial average rose 32.01 points to close at 12,534.67. 

PulteGroup, Lennar and other housing stocks climbed following news that a measure of national home prices rose 1.3 percent in April, the first increase in seven months. The Standard & Poor's/Case-Shiller home price index showed a rise in 19 out of the 20 major cities tracked; Detroit was the only city where prices fell. 

PulteGroup rose 49 cents to $9.72 and Lennar rose 81 cents to $27.39. 

"There's some good news out there, especially if you look at the housing market," said John De Clue, regional investment director of U.S. Bank's wealth management unit in Minneapolis. "But there's this overriding theme: concerns over global growth. Things are pretty much slowing everywhere you look." 

News Corp. jumped 8 percent. The company confirmed that it's contemplating a breakup into two publicly traded companies. The split would divide its publishing from its entertainment businesses. The media empire includes The Wall Street Journal, Fox News Channel, and newspapers in Britain and Australia. News Corp.'s stock leapt $1.68 to $21.76. 

In other trading, the broader Standard & Poor's 500 index gained 6.27 points to 1,319.99. The Nasdaq composite rose 17.90 points to 2,854.06. 

 *The NYSE DOW closed  	HIGHER ▲	32.01	points or ▲	0.26%	Tuesday, 26 June 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,534.67	▲	32.01	▲	0.26%	
	Nasdaq____	2,854.06	▲	17.89	▲	0.63%	
	S&P_500__	1,319.99	▲	6.27	▲	0.48%	
	30_Yr_Bond	2.698	▲	0.02	▲	0.60%	

NYSE Volume	 3,412,957,250 			 		 	
Nasdaq Volume	 1,600,777,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,446.96	▼	-3.69	▼	-0.07%	
	DAX_____	6,136.69	▲	4.30	▲	0.07%	
	CAC_40__	3,012.71	▼	-8.93	▼	-0.30%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,056.30	▼	-15.70	▼	-0.39%	
	Shanghai_Comp	2,222.07	▼	-2.05	▼	-0.09%	
	Taiwan_Weight	7,137.93	▼	-28.45	▼	-0.40%	
	Nikkei_225____	8,663.99	▼	-70.63	▼	-0.81%	
	Hang_Seng____	18,981.84	▲	53.93	▲	0.45%	
	Strait_Times___	2,809.31	▼	-5.95	▼	-0.21%	
	NZX 50 Index__	3,381.32	▼	-19.80	▼	-0.58%	

http://finance.yahoo.com/news/homebuilders-lead-stocks-wall-street-200954563.html

*Homebuilders lead stocks up on Wall Street
Wall Street edges up a day after big losses; homebuilders rise on news of higher home prices*

By Matthew Craft, AP Business Writer

Homebuilders led stocks up on Tuesday, helping major indexes recoup some losses from the day before. Rupert Murdoch's News Corp. surged after the media conglomerate said it may split into two companies. 

The Dow Jones industrial average rose 32.01 points to close at 12,534.67. 

PulteGroup, Lennar and other housing stocks climbed following news that a measure of national home prices rose 1.3 percent in April, the first increase in seven months. The Standard & Poor's/Case-Shiller home price index showed a rise in 19 out of the 20 major cities tracked; Detroit was the only city where prices fell. 

PulteGroup rose 49 cents to $9.72 and Lennar rose 81 cents to $27.39. 

"There's some good news out there, especially if you look at the housing market," said John De Clue, regional investment director of U.S. Bank's wealth management unit in Minneapolis. "But there's this overriding theme: concerns over global growth. Things are pretty much slowing everywhere you look." 

News Corp. jumped 8 percent. The company confirmed that it's contemplating a breakup into two publicly traded companies. The split would divide its publishing from its entertainment businesses. The media empire includes The Wall Street Journal, Fox News Channel, and newspapers in Britain and Australia. News Corp.'s stock leapt $1.68 to $21.76. 

In other trading, the broader Standard & Poor's 500 index gained 6.27 points to 1,319.99. The Nasdaq composite rose 17.90 points to 2,854.06. 

Investors sold coal company stocks after S&P lowered the credit rating for James River Coal deeper into junk status, citing weaker demand for coal. Utilities have favored natural gas instead of coal to generate electricity and are also preparing for new emission standards. James River plunged 15 percent, or 43 cents, to $2.49. 

Alpha Natural Resources sank 20 cents, to $7.73. Peabody Energy dropped 34 cents to $21.12. 

More worrisome developments in Europe kept U.S. markets in check. Spain's borrowing costs jumped in a pair of short-term debt auctions, the latest sign that investors are hesitant to lend the country money. The interest rate on the country's 3-month bills was 2.36 percent Tuesday, nearly triple the rate in the last such auction in May. 

Spain's main stock index sank 1.5 percent, the second day straight of deep losses, and the yield on its benchmark 10-year government bond rose to 6.81 percent, which makes it more expensive for the country to borrow. The slump in Spanish financial markets came a day after the credit rating agency Moody's lowered ratings on 28 Spanish banks. 

Stock markets fell sharply in the U.S. and Europe on Monday as Europe's latest efforts to calm its financial crisis sapped investors' confidence. Spain's formal request for help for its banking systems left many questions unanswered, including how much money it needs. 

Markets have also been battered by signs of withering economic growth around the world. Manufacturing has slowed in China, and hiring has weakened in the U.S. The Dow has taken its two largest daily losses of the year this month: a 250-point plunge June 21 and a 274-point one June 1. 

Even with those losses, the Dow remains up 1.1 percent for June. The S&P 500 is up 0.7 percent. 

Among other stocks making big moves: 

”” Apollo Group, a for-profit education company which operates the University of Phoenix, soared 10 percent. The company reported quarterly income that was far larger than analysts had expected. The company's stock rose $3.34 to $35.81. 

”” Seagate Technology gained 4 percent. The maker of hard disk drives is going to replace Progress Energy in the S&P 500 index. As a result, fund managers, whose performance is measured against the S&P index, are more likely to buy Seagate. The stock rose 85 cents to $24.12.


----------



## bigdog

Source: http://finance.yahoo.com 

A rare double shot of good news about the U.S. economy sent stocks strongly higher Wednesday. The Dow Jones industrial average rose 92 points despite lingering fear about Europe's debt turmoil. 

Americans signed more contracts to buy previously occupied homes in May, matching the fastest pace in two years, the National Association of Realtors said. It was the latest signal that the housing market is improving in many regions following a slump of more than six years. 

Homebuilders soared. Lennar Corp. jumped $1.31, or 5 percent, to $28.70. That company had reported earlier that its second-quarter profit rose as it boosted deliveries and new orders. PulteGroup, D.R. Horton and Hovnanian Enterprises also rose sharply. 

Earlier, the government said that businesses placed more orders for long-lasting manufactured goods in May, suggesting that their confidence in the U.S. economy was not shaken by signs of weakness that emerged this spring. Core goods, a measure of business investment plans, also jumped. 

The reports "were really quite good," boosting hopes about the economic recovery after three months of weak output and abysmal job growth, said Dennis Gartman, an economist and editor of The Gartman Letter, a source of daily market commentary. 

"The economy is doing reasonably well and will continue to muddle on through," Gartman said. 

The Dow closed up 92.34 points, or 0.7 percent, at 12,627.01. Coca-Cola rose $1.26, or 2 percent, to $76.34, after saying it will invest another $3 billion in India's rapidly growing consumer market over the next eight years. 

The Standard & Poor's 500 index rose 11.86 points, or 0.9 percent, to 1,331.85. 				

 *The NYSE DOW closed  	HIGHER ▲	92.34	points or ▲	0.74%	Wednesday, 27 June 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,627.01	▲	92.34	▲	0.74%	
	Nasdaq____	2,875.32	▲	21.26	▲	0.74%	
	S&P_500__	1,331.85	▲	11.86	▲	0.90%	
	30_Yr_Bond	2.693	▼	-0.01	▼	-0.19%	

NYSE Volume	 3,286,921,000 			 		 	
Nasdaq Volume	 1,638,583,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,523.92	▲	76.96	▲	1.41%	
	DAX_____	6,228.99	▲	92.30	▲	1.50%	
	CAC_40__	3,063.12	▲	50.41	▲	1.67%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,084.00	▲	27.70	▲	0.68%	
	Shanghai_Comp	2,216.93	▼	-5.13	▼	-0.23%	
	Taiwan_Weight	7,183.01	▲	45.08	▲	0.63%	
	Nikkei_225____	8,730.49	▲	66.50	▲	0.77%	
	Hang_Seng____	19,174.61	▲	53.93	▲	1.02%	
	Strait_Times___	2,841.60	▲	35.97	▲	1.28%	
	NZX 50 Index__	3,387.78	▲	6.45	▲	0.19%	

http://finance.yahoo.com/news/stocks-rise-stronger-us-housing-143942348.html

*Stocks rise on stronger US housing, factory data

US stocks rise on stronger data about housing, factories; European debt turmoil looms*

By Daniel Wagner, AP Business Writer 

A rare double shot of good news about the U.S. economy sent stocks strongly higher Wednesday. The Dow Jones industrial average rose 92 points despite lingering fear about Europe's debt turmoil. 

Americans signed more contracts to buy previously occupied homes in May, matching the fastest pace in two years, the National Association of Realtors said. It was the latest signal that the housing market is improving in many regions following a slump of more than six years. 

Homebuilders soared. Lennar Corp. jumped $1.31, or 5 percent, to $28.70. That company had reported earlier that its second-quarter profit rose as it boosted deliveries and new orders. PulteGroup, D.R. Horton and Hovnanian Enterprises also rose sharply. 

Earlier, the government said that businesses placed more orders for long-lasting manufactured goods in May, suggesting that their confidence in the U.S. economy was not shaken by signs of weakness that emerged this spring. Core goods, a measure of business investment plans, also jumped. 

The reports "were really quite good," boosting hopes about the economic recovery after three months of weak output and abysmal job growth, said Dennis Gartman, an economist and editor of The Gartman Letter, a source of daily market commentary. 

"The economy is doing reasonably well and will continue to muddle on through," Gartman said. 

The Dow closed up 92.34 points, or 0.7 percent, at 12,627.01. Coca-Cola rose $1.26, or 2 percent, to $76.34, after saying it will invest another $3 billion in India's rapidly growing consumer market over the next eight years. 

The Standard & Poor's 500 index rose 11.86 points, or 0.9 percent, to 1,331.85. Its biggest loser by far was auto parts maker O'Reilly Automotive, which fell $13.83, or 14 percent, to $82.61. O'Reilly said its second-quarter earnings will be at the low end of its earlier estimates and sales will be weaker than previously expected. 

H&R Block leapt 58 cents, or 4 percent, to $15.67. The tax preparation company posted a lower fourth-quarter profit than analyst had expected, but the company gained valuable market share while cutting jobs and closing stores to focus on electronic tax filing. 

The Nasdaq composite average rose 21.26 points to 2,875.32. 

Investors remain wracked with concern about Europe as leaders there prepare for a two-day summit aimed at defusing their lingering debt crisis. German Chancellor Angela Merkel warned Wednesday that there would be no quick solution to the structural issues plaguing the continent. 

Europe will cause volatile stock trading in the coming weeks because the summit is unlikely to produce a lasting solution, Gartman said. The meeting is scheduled to be two days, he said, but Italian Prime Minister Mario Monti promised to keep it going until Sunday if an agreement has not been reached. 

"I think he can keep them there until Sunday five weeks from now and there's little chance they'll agree," Gartman said.


----------



## bigdog

Source: http://finance.yahoo.com 

A late recovery on Wall Street wiped out most of the stock market's losses Thursday, leaving the Dow Jones industrial average down just 25 points. 

The Dow had been down as much as 177 points but came back sharply in the last 20 minutes of trading. 

Many insurance stocks fell sharply after the Supreme Court upheld most of President Obama's health care law. The stocks of hospital operators rose. The ruling upheld the central provision of the law, a requirement that almost all Americans carry health insurance. 

There were varying explanations for the late comeback on the stock market. European leaders were holding their first day of summit talks to address the region's sluggish economic growth and collapse of investor confidence in the finances of weak countries like Greece and Portugal. 

There wasn't any concrete or official plan to emerge from the meeting, but rumors swirled that the European Central Bank could cut interest rates, and that European leaders were becoming more conciliatory, rather than just confrontational, as they worked on how to prop up troubled countries that are too big to bail out, like Spain and Italy. 

Bank stocks erased much of their losses in late trading. JPMorgan cut its loss in half. The stock was down as much as $1.93 but ended with a loss of 90 cents at $35.88. It was still the biggest loss among the 30 stocks in the Dow average. 

The New York Times reported that its loss from a complex trade that went wrong could swell to $9 billion, much larger than the bank has acknowledged. The bank had said previously the loss was $2 billion but could get larger. 

The Dow Jones industrial average ended down 24.75 points at 12,602.26. 

Other indexes also cut their losses. The Standard & Poor's 500 index fell 2.91 points to end at 1,329.04 and the Nasdaq composite fell 25.83 points to 2,849.49. Both indexes had been down more earlier. 		

 *The NYSE DOW closed  	LOWER ▼	-24.75	points or ▼	-0.20%	Thursday, 28 June 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,602.26	▼	-24.75	▼	-0.20%	
	Nasdaq____	2,849.49	▼	-25.83	▼	-0.90%	
	S&P_500__	1,329.04	▼	-2.81	▼	-0.21%	
	30_Yr_Bond	2.666	▼	-0.03	▼	-1.00%	

NYSE Volume	 3,867,150,000 			 		 	
Nasdaq Volume	 1,753,433,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,493.06	▼	-30.86	▼	-0.56%	
	DAX_____	6,149.91	▼	-79.08	▼	-1.27%	
	CAC_40__	3,051.68	▼	-11.44	▼	-0.37%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,085.60	▲	1.60	▲	0.04%	
	Shanghai_Comp	2,195.84	▼	-21.09	▼	-0.95%	
	Taiwan_Weight	7,169.61	▼	-13.40	▼	-0.19%	
	Nikkei_225____	8,874.11	▲	143.62	▲	1.65%	
	Hang_Seng____	19,025.27	▲	53.93	▼	-0.79%	
	Strait_Times___	2,846.82	▲	5.22	▲	0.18%	
	NZX 50 Index__	3,401.34	▲	13.57	▲	0.40%	

http://finance.yahoo.com/news/stock-market-cuts-losses-comeback-201708957.html

*Stock market cuts its losses with a late comeback

Wall Street recovers from a deep slide and ends slightly lower; Dow closed down 25*

By Christina Rexrode, AP Business Writer 

A late recovery on Wall Street wiped out most of the stock market's losses Thursday, leaving the Dow Jones industrial average down just 25 points. 

The Dow had been down as much as 177 points but came back sharply in the last 20 minutes of trading. 

Many insurance stocks fell sharply after the Supreme Court upheld most of President Obama's health care law. The stocks of hospital operators rose. The ruling upheld the central provision of the law, a requirement that almost all Americans carry health insurance. 

There were varying explanations for the late comeback on the stock market. European leaders were holding their first day of summit talks to address the region's sluggish economic growth and collapse of investor confidence in the finances of weak countries like Greece and Portugal. 

There wasn't any concrete or official plan to emerge from the meeting, but rumors swirled that the European Central Bank could cut interest rates, and that European leaders were becoming more conciliatory, rather than just confrontational, as they worked on how to prop up troubled countries that are too big to bail out, like Spain and Italy. 

Bank stocks erased much of their losses in late trading. JPMorgan cut its loss in half. The stock was down as much as $1.93 but ended with a loss of 90 cents at $35.88. It was still the biggest loss among the 30 stocks in the Dow average. 

The New York Times reported that its loss from a complex trade that went wrong could swell to $9 billion, much larger than the bank has acknowledged. The bank had said previously the loss was $2 billion but could get larger. 

The Dow Jones industrial average ended down 24.75 points at 12,602.26. 

Other indexes also cut their losses. The Standard & Poor's 500 index fell 2.91 points to end at 1,329.04 and the Nasdaq composite fell 25.83 points to 2,849.49. Both indexes had been down more earlier. 

The dollar and Treasury prices rose as investors parked money in low-risk assets. The yield on the 10-year Treasury note fell to 1.59 percent from 1.63 percent late Wednesday. The dollar rose about a penny against the euro to $1.24. 

There was little for investors to like in new reports on the U.S. economy. 

The U.S. economy grew at an annual rate of just 1.9 percent in the January-March quarter, according to a new government estimate. Consumer spending, which accounts for a huge part of the economy, grew 2.5 percent, below the previous 2.7 percent estimate. The four-week average of applications for unemployment benefits didn't decline, a sign that layoffs aren't easing. 

News Corp. fell 1 percent after the media conglomerate said it would separate its publishing and entertainment businesses into two public companies. The stock or Rupert Murdoch's sprawling media empire, which includes The Wall Street Journal, the Fox TV network, Fox News Channel and newspapers in Australia and Britain, gave up 32 cents to $21.99. 

Family Dollar Stores fell $1.93 to $67.20 after the discount retailer of household goods and food reported earnings and revenue that were short of what Wall Street analysts were expecting. 

Paychex dropped 95 cents to $30.98. The company, which provides payroll, human resources and benefits services to employers, reported revenue was shy of what analysts were expecting. 

Rising stocks outnumbered falling ones three to two. Volume was average at 3.8 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com 

Financial markets around the world stormed higher Friday after European leaders came up with a breakthrough plan to rescue banks, relieve debt-burdened governments and restore investor confidence. 

The Dow Jones industrial average climbed 277 points, its second-biggest gain this year, and stocks advanced even further in Europe, in strong and weak countries alike. 

The price of oil posted its biggest one-day increase in more than three years, and other commodities shot higher ”” signs of hope that a deal in Europe will remove a big barrier to a healthier world economy. 

In Brussels, leaders of the 17 countries that use the euro appeared finally to have found a broad strategy to fight a debt crisis that has hounded European governments and world investors for three years. 

The leaders agreed to pump money directly into stricken banks, let some countries tap into rescue money without submitting to stringent budget requirements and, later, tie European governments closer in economic union. 

David Kelly, chief global strategist at JPMorgan Funds, said it was becoming clear that European leaders will compromise to solve the crisis. One of the biggest stock gains Friday came in Germany, which took a hard line in earlier negotiations. 

In New York, the Dow Jones industrial average closed up 277.83 points, only a sliver below its high for the day. The Standard & Poor's 500 index soared 2.5 percent. The rally left the S&P with a gain of 8.3 percent at the halfway mark for the year. 

 *The NYSE DOW closed  	HIGHER ▲	277.83	points or ▲	2.20%	Friday, 29 June 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,880.09	▲	277.83	▲	2.20%	
	Nasdaq____	2,935.05	▲	85.56	▲	3.00%	
	S&P_500__	1,362.16	▲	33.12	▲	2.49%	
	30_Yr_Bond	2.763	▲	0.10	▲	3.64%	

NYSE Volume	 4,480,780,000 			 		 	
Nasdaq Volume	 1,961,213,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,571.15	▲	78.09	▲	1.42%	
	DAX_____	6,416.28	▲	266.37	▲	4.33%	
	CAC_40__	3,196.65	▲	144.97	▲	4.75%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,135.50	▲	49.90	▲	1.22%	
	Shanghai_Comp	2,225.43	▲	29.59	▲	1.35%	
	Taiwan_Weight	7,296.28	▲	126.67	▲	1.77%	
	Nikkei_225____	9,006.78	▲	132.67	▲	1.50%	
	Hang_Seng____	19,441.46	▲	53.93	▲	2.19%	
	Strait_Times___	2,878.45	▲	31.63	▲	1.11%	
	NZX 50 Index__	3,399.83	▼	-1.51	▼	-0.04%	

http://finance.yahoo.com/news/world-markets-surge-europe-finds-184211710.html

*World markets surge after Europe finds rescue plan

World markets surge after Europe unveils broad plan to fight debt crisis, banking woes*

By Daniel Wagner, AP Business Writer 

Financial markets around the world stormed higher Friday after European leaders came up with a breakthrough plan to rescue banks, relieve debt-burdened governments and restore investor confidence. 

The Dow Jones industrial average climbed 277 points, its second-biggest gain this year, and stocks advanced even further in Europe, in strong and weak countries alike. 

The price of oil posted its biggest one-day increase in more than three years, and other commodities shot higher ”” signs of hope that a deal in Europe will remove a big barrier to a healthier world economy. 

In Brussels, leaders of the 17 countries that use the euro appeared finally to have found a broad strategy to fight a debt crisis that has hounded European governments and world investors for three years. 

The leaders agreed to pump money directly into stricken banks, let some countries tap into rescue money without submitting to stringent budget requirements and, later, tie European governments closer in economic union. 

David Kelly, chief global strategist at JPMorgan Funds, said it was becoming clear that European leaders will compromise to solve the crisis. One of the biggest stock gains Friday came in Germany, which took a hard line in earlier negotiations. 

"The whole language is positive here," he said. "Every time they've stared over the cliff into the abyss of a euro breakup, they've realized it's much wiser to get closer together." 

There was a sign immediately that Europe's latest plan was working: The cost for the troubled government of Spain to borrow money on the bond market fell dramatically, by more than half a percentage point, to 6.34 percent. 

Previous market rallies tied to progress in Europe have proved temporary. But for the day, at least, global stock markets were jubilant: 

”” In New York, the Dow Jones industrial average closed up 277.83 points, only a sliver below its high for the day. The Standard & Poor's 500 index soared 2.5 percent. The rally left the S&P with a gain of 8.3 percent at the halfway mark for the year. 

”” The benchmark stock index in Germany rose 4.3 percent, by far its best performance this year. Germany has the strongest economy in Europe, and it depends heavily on exports, so it needs other countries to stay healthy. 

”” Stocks hit their highest level in two months in Italy and Spain, two of the countries with the shakiest finances. Stocks also neared a two-month high in Greece, another epicenter of the debt crisis. 

Traders sold U.S. Treasurys, sending the yield on the 10-year Treasury note up to 1.65 percent from 1.57 percent late Thursday, as demand decreased for ultra-safe investments. 

Energy prices rose sharply because a cure for Europe's debt problem would remove a big drag on global economic growth. The price of oil jumped $7.27 per barrel to $84.96. It was a gain of 9.4 percent, the biggest for oil since March 2009. 

Gold gained $54, the biggest jump since June 1, to $1,604 an ounce. Copper and silver both rose about 5 percent. Copper is a key ingredient of economic expansion because of its use in electrical wiring, pipes and machinery. 

The euro gained 2.3 cents against the dollar, to $1.2651. 

On Thursday, economic reports from the United States were discouraging, and the Dow fell as much as 177 points. But stocks staged a big comeback late in the day, partly because rumors swirled that European leaders were more conciliatory. 

News of the deal in Europe broke overnight, and on Friday, stocks soared from the open. The Dow swung 430 points between its Thursday low and the high it reached late Friday. 

Some market analysts remained cautious. Uri Landesman, president of Platinum Partners LLC, a New York hedge fund, said he expects more sharp leaps and dives this summer as traders speculate about Europe's future. 

"This Europe thing is going to trade up and down based on the news of the day," Landesman said. 

Kelly took a brighter view. Besides the Europe deal, he referred to a Greek election this month carried by pro-bailout parties and the Supreme Court's decision Thursday to uphold most of President Barack Obama's health care overhaul. 

"Uncertainty is diminishing," he said. "These are all big question marks that have been out there, and as those question marks decrease, stock prices and interest rates increase." 

As the first half of the year ends, there are still reasons to worry about the world economy: China's expansion is slowing, and U.S. employers have created fewer jobs in the past three months. A report next Friday is expected to show a fourth straight month of anemic U.S. job growth. 

Because of the economic fears and a deep slump in May as Spain's banks teetered near collapse, the S&P 500 lost 3.3 percent for the quarter. 

There may be more damage in store, Landesman said. "I remain quite negative about the market in the next two months," he said, adding that lower trading volumes during the summer can lead to choppier trading. 

The S&P 500 at least started the summer strong. It rose 4 percent in June, its best month since February and its strongest June since 1999. 

For the year, the Dow is up 662.53 points for the year, or 5.4 percent. The Nasdaq composite index is up 12.7 percent. 

For the day, the Dow closed up 277.83 points, or 2.2 percent, at 12,880.09. The S&P 500 rose 33.12, or 2.5 percent, to 1,362.16. The Nasdaq rose 85.56, or 3 percent, to 2,935.05. 

Industrial and information technology stocks rose the most of the 10 industry groups in the S&P 500. Those companies would benefit from faster growth and stronger demand from Europe, a key trading partner. 

In corporate news, Research in Motion, maker of the BlackBerry, plunged 20.3 percent after the company posted quarterly results that suggest it is crumbling faster than thought. RIM is cutting 5,000 jobs and unexpectedly delaying the launch of new phones deemed critical to its survival. 

The biggest gainer in the S&P was the alcoholic beverage giant Constellation Brands. The stock jumped 24.4 percent after the company secured the right to distribute Corona beer and other popular brands in the U.S. Constellation bought the other half of Crown Imports LLC from Grupo Modelo for $1.85 billion. 

Nike plunged 9.4 percent, the biggest drop in the S&P 500. The world's largest athletic shoe and clothing company said profit dropped 8 percent last quarter on high product costs, a restructuring charge and an unexpected customs assessment.

1678


----------



## bigdog

Source: http://finance.yahoo.com

 Investors rejoiced over Europe last week. On Monday, they got back to worrying about the United States. 

Stocks struggled to stay out of the red in quiet holiday-week trading after a trade group said American manufacturing shrank in June for the first time in almost three years. 

The Dow Jones industrial average was higher in early trading but fell after the manufacturing report came out at 10 a.m. EDT and never recovered. It finished down 8.70 points at 12,871.39. 

The Standard & Poor's 500 and the Nasdaq composite index both finished slightly higher after hopping between small gains and losses. The S&P rose 3.35 to 1,365.51. The Nasdaq rose 16.18 to 2,951.23. 

Chemical company DuPont fell the most in the Dow. It lost $1.14, or 2.3 percent, to $49.43. Caterpillar, General Electric, Alcoa, Exxon Mobil, Boeing and other companies tied to manufacturing were also down. 

It was a tepid performance compared with Europe's. Stock indexes in France, Britain and Germany rose more than 1 percent, still riding the euphoria from Friday's announcement that European leaders will make it easier for banks to get bailout loans. That news pushed the Dow up 277 points Friday. 

The government did report a sliver of good news about the U.S. economy Monday, though investors seemed underwhelmed: Construction spending rose in May by 0.9 percent, the most in five months. 

Monday was the first day of trading for the second half of the year. In the first half, the S&P gained more than 8 percent. Several financial analysts said they expected volatile markets, at least through the November presidential election. 							

 *The NYSE DOW closed  	LOWER ▼	-8.70	points or ▼	-0.07%	Monday, 2 July 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,871.39	▼	-8.70	▼	-0.07%	
	Nasdaq____	2,951.23	▲	16.18	▲	0.55%	
	S&P_500__	1,365.51	▲	3.35	▲	0.25%	
	30_Yr_Bond	2.683	▼	-0.08	▼	-2.90%	

NYSE Volume	 3,301,752,000 			 		 	
Nasdaq Volume	 1,805,103,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,640.64	▲	69.49	▲	1.25%	
	DAX_____	6,496.08	▲	79.80	▲	1.24%	
	CAC_40__	3,240.20	▲	43.55	▲	1.36%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,172.50	▲	37.00	▲	0.89%	
	Shanghai_Comp	2,226.11	▲	0.68	▲	0.03%	
	Taiwan_Weight	7,345.16	▲	48.88	▲	0.67%	
	Nikkei_225____	9,003.48	▼	-3.30	▼	-0.04%	
	Hang_Seng____	19,441.46	▲	53.93	▲	2.19%	
	Strait_Times___	2,911.10	▲	32.65	▲	1.13%	
	NZX 50 Index__	3,440.16	▲	40.33	▲	1.19%	

http://finance.yahoo.com/news/stocks-mixed-american-manufacturing-slows-201334255.html

*Stocks mixed as American manufacturing slows

Investors rejoiced over Europe last week. On Monday, they got back to worrying about the United States.* 

By Christina Rexrode, AP Business Writer

Stocks struggled to stay out of the red in quiet holiday-week trading after a trade group said American manufacturing shrank in June for the first time in almost three years. 

The Dow Jones industrial average was higher in early trading but fell after the manufacturing report came out at 10 a.m. EDT and never recovered. It finished down 8.70 points at 12,871.39. 

The Standard & Poor's 500 and the Nasdaq composite index both finished slightly higher after hopping between small gains and losses. The S&P rose 3.35 to 1,365.51. The Nasdaq rose 16.18 to 2,951.23. 

Chemical company DuPont fell the most in the Dow. It lost $1.14, or 2.3 percent, to $49.43. Caterpillar, General Electric, Alcoa, Exxon Mobil, Boeing and other companies tied to manufacturing were also down. 

It was a tepid performance compared with Europe's. Stock indexes in France, Britain and Germany rose more than 1 percent, still riding the euphoria from Friday's announcement that European leaders will make it easier for banks to get bailout loans. That news pushed the Dow up 277 points Friday. 

The government did report a sliver of good news about the U.S. economy Monday, though investors seemed underwhelmed: Construction spending rose in May by 0.9 percent, the most in five months. 

Monday was the first day of trading for the second half of the year. In the first half, the S&P gained more than 8 percent. Several financial analysts said they expected volatile markets, at least through the November presidential election. 

"We don't know who it will be," said Benjamin Segal, portfolio manager for global equities at Neuberger Berman. "And even if we did, we don't know the particular policies they'd pursue." 

Analysts also cited tax increases and spending cuts scheduled to take effect in January ”” the so-called fiscal cliff. 

Derrick Irwin, portfolio manager for Wells Fargo Advantage Funds, said the U.S. market would "muddle through the foreseeable future." Leo Grohowski, chief investment officer of Bank of New York Mellon's wealth management division, said the market would "continue to move from hope to despair." 

Investors hope for some clarity later this week. U.S. car companies report monthly sales Tuesday, retailers like Target and Macy's report monthly sales on Thursday, and a closely watched report on U.S. jobs comes out Friday. 

And though stocks rose in Europe, some analysts wondered how long those gains would last. Previous steps to ease the debt crisis have been met by market gains that quickly disappeared. 

"The eurozone is really uncharted territory for a generation of investors," Irwin said. "I think anybody who thinks they really know what is happening there is, at best, guessing." 

The day also brought reminders of how badly Europe needs help: Unemployment in the 17 countries that use the euro hit the highest level since the euro was launched in 1999. 

In France, auditors warned that the country still has a big budget hole to plug. In Cyprus, leaders prepared for talks on its own bailout. And in Germany, the highest court announced it would hear arguments from people who want to block the rescue. 

The yield on the benchmark 10-year U.S. Treasury note fell to 1.59 percent on Monday, down from 1.63 on Friday. The price of crude oil fell $1.21 to end the day at $83.75 per barrel. 

In corporate news: 

”” Best Buy jumped $1.24, or 5.9 percent, to $22.20 after reports that its founder was nearing an offer to buy the company and take it private. Best Buy, an electronics store, has struggled to keep up with online-only competitors like Amazon. 

”” Groupon fell $1.12, or 10.5 percent, to $9.51 after analysts at Susquehanna cut their price target for the company, noting higher marketing expenses. 

Stocks mixed as a slowdown in US manufacturing underscores economic uncertainty


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks climbed Tuesday in an abbreviated holiday trading session after an encouraging report about manufacturing. Energy stocks rose the most because of increased tension over oil-rich Iran. 

Major stock indexes wavered in early trading, then moved decisively higher after the government reported that factory orders rose in May. Caterpillar, Alcoa, Boeing and other stocks that depend on manufacturing rose. 

The report was welcome after a trade group reported on Monday that U.S. manufacturing shrank in June for the first time since July 2009, the first month after the Great Recession ended. 

The price of oil climbed more than 4 percent after Iran threatened to block a critical Persian Gulf shipping route. On Sunday, Europe enacted stricter rules against buying oil from Iran, trying to force it to be more open about its nuclear program. 

New York crude rose $3.91 per barrel to $87.66. The supply fears drove energy stocks up more than 2 percent, more than any other industry in the Standard & Poor's 500. Chevron rose $1.51, or 1.4 percent, to $107.37. 

The Dow Jones industrial average finished 72.43 points higher at 12,943.82. The S&P 500 index rose 8.51 to 1,374.02. The Nasdaq composite index rose 24.85 to 2,976.08. 

 *The NYSE DOW closed  	HIGHER ▲	72.43	points or ▲	0.56%	Tuesday, 3 July 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,943.82	▲	72.43	▲	0.56%	
	Nasdaq____	2,976.08	▲	24.84	▲	0.84%	
	S&P_500__	1,374.02	▲	8.51	▲	0.62%	
	30_Yr_Bond	2.744	▲	0.06	▲	2.27%	

NYSE Volume	 2,116,065,500 			 		 	
Nasdaq Volume	 1,025,364,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,687.73	▲	47.09	▲	0.83%	
	DAX_____	6,578.21	▲	82.13	▲	1.26%	
	CAC_40__	3,271.20	▲	31.00	▲	0.96%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,166.40	▼	-6.10	▼	-0.15%	
	Shanghai_Comp	2,229.19	▲	3.08	▲	0.14%	
	Taiwan_Weight	7,418.36	▲	73.20	▲	1.00%	
	Nikkei_225____	9,066.59	▲	63.11	▲	0.70%	
	Hang_Seng____	19,735.53	▲	53.93	▲	1.51%	
	Strait_Times___	2,945.33	▲	34.74	▲	1.19%	
	NZX 50 Index__	3,444.63	▲	4.47	▲	0.13%	

http://finance.yahoo.com/news/stocks-rise-oil-prices-factory-161727692.html

*Stocks rise as oil prices, factory orders climb

US stocks slightly higher after factory orders rise; oil prices jump on concerns about Iran*

By Christina Rexrode, AP Business Writer 

Stocks climbed Tuesday in an abbreviated holiday trading session after an encouraging report about manufacturing. Energy stocks rose the most because of increased tension over oil-rich Iran. 

Major stock indexes wavered in early trading, then moved decisively higher after the government reported that factory orders rose in May. Caterpillar, Alcoa, Boeing and other stocks that depend on manufacturing rose. 

The report was welcome after a trade group reported on Monday that U.S. manufacturing shrank in June for the first time since July 2009, the first month after the Great Recession ended. 

The price of oil climbed more than 4 percent after Iran threatened to block a critical Persian Gulf shipping route. On Sunday, Europe enacted stricter rules against buying oil from Iran, trying to force it to be more open about its nuclear program. 

New York crude rose $3.91 per barrel to $87.66. The supply fears drove energy stocks up more than 2 percent, more than any other industry in the Standard & Poor's 500. Chevron rose $1.51, or 1.4 percent, to $107.37. 

The Dow Jones industrial average finished 72.43 points higher at 12,943.82. The S&P 500 index rose 8.51 to 1,374.02. The Nasdaq composite index rose 24.85 to 2,976.08. 

Brian Jacobsen, chief portfolio strategist at Wells Fargo Fund Management, was investing in energy companies ”” not just oil but also natural gas. He figures that as the price of oil rises, more businesses will explore natural gas as an alternative. 

"Like it or not," Jacobsen said, "we're dependent on a variety of energy sources." 

Ford and General Motors both jumped after they and other car companies reported higher sales for June. Overall car sales still came in slightly below what analysts polled by FactSet were expecting. 

Factory orders increased 0.7 percent in May from April, the Commerce Department said. Core capital goods, which include machinery and computers, rose 2.1 percent. That was better than the 1.6 percent estimated last week. 

"Not much was expected, and it managed to come in just above 'not much,'" said Patrick O'Keefe, director of economic research at J.H. Cohn. 

O'Keefe said he keeps waiting for the U.S. economy to turn a corner but hasn't seen it yet. "We're still getting growth, and that was expected," he said, "but it's growth that is both weak and erratic." 

Mostly, investors were in a holding pattern, waiting for the government's Friday report on June employment, and for companies to start reporting second-quarter earnings next week. 

Trading volume was light. The market closed three hours early, at 1 p.m., and many traders had already taken off for the Fourth of July holiday. 

Europe was relatively quiet, though with underpinnings of discord. A Greek government spokesman said the government was preparing an "alarming" report on its recession in a bid to renegotiate the terms of its bailout. 

Slovakia's prime minister said his country was running out of patience for bailing out its more free-spending neighbors. Cyprus opened talks with the European Union and the International Monetary Fund on a bailout for its troubled banks. 

The European Central Bank will announce later this week whether it will cut interest rates, a move that would likely drive markets higher but also signal that Europe's economy is still weak. Major indexes in France, Britain, Germany, Spain and Greece rose.


----------



## bigdog

Source: http://finance.yahoo.com 

*The NYSE DOW was closed  	for Independece Holiday on	Wednesday, 4 July 2012*

European stocks gave up some of their recent gains Wednesday as investors remained cautious on a day Wall Street was closed for July 4 celebrations and ahead of key economic news in coming days. 

Markets have enjoyed one of their best three-day runs in months as investors cheered Friday's agreement by the leaders of the 17 euro countries to allow Europe's bailout fund to capitalize banks directly and to buy bonds of imperiled countries. 

However, with the eurozone economy showing signs of heading back into recession, the crisis has the potential to flare up again. Mounting concerns over the state of the U.S. economic recovery are also keeping sentiment in check, especially ahead of Friday's closely-watched nonfarm payrolls report for June. The payrolls data often set the market tone for a week or two after their release. 

"If the rally in equities is to last into this month and beyond, then the significant measures of economic strength, such as non-farm payrolls, must be seen to stabilize," said David White, a trader at Spreadex. 

*The NYSE DOW closed  	for Independece Holiday	Wednesday, 4 July 2012
Symbol …........Last ......Change..... * 
Dow_Jones	12,943.82	▲	72.43	▲	0.56%	
Nasdaq____	2,976.08	▲	24.84	▲	0.84%	
S&P_500__	1,374.02	▲	8.51	▲	0.62%	
30_Yr_Bond	2.744	▲	0.06	▲	2.27%	

NYSE Volume	 2,116,065,500 			 		 	
Nasdaq Volume	 1,025,364,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,684.47	▼	-3.26	▼	-0.06%	
	DAX_____	6,564.80	▼	-13.41	▼	-0.20%	
	CAC_40__	3,267.75	▼	-3.45	▼	-0.11%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,213.80	▲	47.40	▲	1.14%	
	Shanghai_Comp	2,227.31	▼	-1.88	▼	-0.08%	
	Taiwan_Weight	7,422.59	▲	4.23	▲	0.06%	
	Nikkei_225____	9,104.17	▲	37.58	▲	0.41%	
	Hang_Seng____	19,709.75	▲	53.93	▼	-0.13%	
	Strait_Times___	2,950.17	▲	4.84	▲	0.16%	
	NZX 50 Index__	3,483.12	▲	38.48	▲	1.12%	

http://finance.yahoo.com/news/european-market-rally-runs-steam-095414035.html

*European market rally runs out of steam

European markets' rally runs out of steam as trading is subdued by July 4 US holiday*

By Pan Pylas, Associated Press 

 European stocks gave up some of their recent gains Wednesday as investors remained cautious on a day Wall Street was closed for July 4 celebrations and ahead of key economic news in coming days. 

Markets have enjoyed one of their best three-day runs in months as investors cheered Friday's agreement by the leaders of the 17 euro countries to allow Europe's bailout fund to capitalize banks directly and to buy bonds of imperiled countries. 

However, with the eurozone economy showing signs of heading back into recession, the crisis has the potential to flare up again. Mounting concerns over the state of the U.S. economic recovery are also keeping sentiment in check, especially ahead of Friday's closely-watched nonfarm payrolls report for June. The payrolls data often set the market tone for a week or two after their release. 

"If the rally in equities is to last into this month and beyond, then the significant measures of economic strength, such as non-farm payrolls, must be seen to stabilize," said David White, a trader at Spreadex. 

Before the payrolls data, markets have a couple of key central bank policy statements to digest, notably from the European Central Bank, which is expected on Thursday to reduce its main borrowing rate below 1 percent for the first time ever. A services sector survey Wednesday from financial information company Markit added to the prevailing view that the eurozone is heading back to recession. 

The Bank of England is also expected to do more to help the British economy, which is already in recession, at its meeting on Thursday. The consensus view is that it will pump another 50 billion pounds into the economy. 

"There is plenty of scope for disappointment given the high expectations, so traders will be cautious ahead of the meetings, and also as we approach non-farm payrolls," said David Morrison, senior market strategist at GFT Markets. 

In Europe, Germany's DAX closed down 0.2 percent at 6,564.80 while the CAC-40 in France fell 0.1 percent to 3,267.75. The FTSE 100 index of leading British shares lost 0.1 percent to 5,684.47. 

The Athens stock exchange bucked the trend, jump 4.9 percent, hopes that Greece's new conservative-led government will ease the effects of a major recession on business. 

Prime Minister Antonis Samaras' government will in two days issue its first major policy statement on how it intends to deal with the country's crushing debt crisis. International debt inspectors are in Athens to examine the country's finances. Based on that report, Greece and its fellow eurozone countries will discuss if and how to ease the country's pace of austerity measures. 

The euro was down 0.6 percent at $1.2536, while oil prices gave up some ground amid the softer tone in Europe ”” benchmark oil for August delivery was down 66 cents at $87.00 a barrel in electronic trading on the New York Mercantile Exchange. 

Earlier in Asia, stocks ended mostly higher. Japan's Nikkei 225 index rose 0.4 percent to 9,104.17 and South Korea's Kospi gained 0.4 percent to 1,874.45. China's Shanghai Composite fell 0.1 percent to 2,227.31 and Hong Kong's Hang Seng was down 0.1 percent at 19,709.75.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks closed mostly lower on Wall Street Thursday after signs emerged that Americans are spending at a slower pace and that China's economy may be in worse shape than previously thought. 

American shoppers slowed their spending in June, resulting in tepid sales for many retailers. Target's stock fell 1 percent and Costco Wholesale fell less than a percent after reporting that sales rose less than analysts were expecting. 

"It all boils down to one little word: uncertainty," said Peter Cardillo, chief market economist at Rockwell Global Capital. "No one will spend if it feels like we're in a recession." 

The reports raised concerns about Americans' ability to spend during the back-to-school shopping season, which starts later this month. That's a crucial period for retailers. 

The Dow Jones industrial average closed down 47.15 points at 12,896.67 on Thursday. The Standard & Poor's 500 fell 6.44 points to 1,367.58. The Nasdaq composite was 0.04 point higher at 2,976.12. 

Eight of the 10 major industries tracked by the S&P 500 fell, led by bank stocks. JPMorgan Chase fell $1.50, or 4 percent, to $34.38, while Bank of America fell 24 cents, or 3 percent, to $7.82. 

China surprised investors earlier Thursday when it cut interest rates for the second time in a month. That caused investors to worry that the downturn in the world's second-largest economy may be worse than previously expected. 

The People's Bank of China cut its main lending rate 0.31 percentage point to 6 percent and reduced its deposit rates by a quarter of a percentage point to 3 percent. The bank said the lower rates are intended to boost economic growth in the second half of the year. Analysts said the cuts are also a sign that Chinese authorities are increasingly concerned about that country's economy. 

As the largest buyer of raw materials, a slowdown in China can hurt sales at a wide range of companies and cause commodities prices to weaken. Crude oil fell 44 cents to $87.22 per barrel, and copper lost 4.7 cents to $3.493 a pound. 

 *The NYSE DOW closed  	LOWER ▼	-47.15	points or ▼	-0.36%	Thursday, 5 July 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,896.67	▼	-47.15	▼	-0.36%	
	Nasdaq____	2,976.12	▲	0.04	▲	0.00%	
	S&P_500__	1,367.58	▼	-6.44	▼	-0.47%	
	30_Yr_Bond	2.722	▼	-0.02	▼	-0.80%	

NYSE Volume	 2,942,578,500 			 		 	
Nasdaq Volume	 1,401,864,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,692.63	▲	8.16	▲	0.14%	
	DAX_____	6,535.56	▼	-29.24	▼	-0.45%	
	CAC_40__	3,229.36	▼	-38.39	▼	-1.17%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,209.90	▼	-3.90	▼	-0.09%	
	Shanghai_Comp	2,201.35	▼	-25.96	▼	-1.17%	
	Taiwan_Weight	7,387.78	▼	-34.81	▼	-0.47%	
	Nikkei_225____	9,079.80	▼	-24.37	▼	-0.27%	
	Hang_Seng____	19,809.13	▲	53.93	▲	0.50%	
	Strait_Times___	2,971.47	▲	22.70	▲	0.77%	
	NZX 50 Index__	3,484.20	▲	1.08	▲	0.03%	

http://finance.yahoo.com/news/weak-retail-sales-figures-push-194934501.html

*Weak retail sales figures push stocks lower

Weak retail sales, signs of weakness in China leave stocks mostly lower on Wall Street*

By Pallavi Gogoi, AP Business Writer 

 Stocks closed mostly lower on Wall Street Thursday after signs emerged that Americans are spending at a slower pace and that China's economy may be in worse shape than previously thought. 

American shoppers slowed their spending in June, resulting in tepid sales for many retailers. Target's stock fell 1 percent and Costco Wholesale fell less than a percent after reporting that sales rose less than analysts were expecting. 

"It all boils down to one little word: uncertainty," said Peter Cardillo, chief market economist at Rockwell Global Capital. "No one will spend if it feels like we're in a recession." 

The reports raised concerns about Americans' ability to spend during the back-to-school shopping season, which starts later this month. That's a crucial period for retailers. 

The Dow Jones industrial average closed down 47.15 points at 12,896.67 on Thursday. The Standard & Poor's 500 fell 6.44 points to 1,367.58. The Nasdaq composite was 0.04 point higher at 2,976.12. 

Eight of the 10 major industries tracked by the S&P 500 fell, led by bank stocks. JPMorgan Chase fell $1.50, or 4 percent, to $34.38, while Bank of America fell 24 cents, or 3 percent, to $7.82. 

China surprised investors earlier Thursday when it cut interest rates for the second time in a month. That caused investors to worry that the downturn in the world's second-largest economy may be worse than previously expected. 

The People's Bank of China cut its main lending rate 0.31 percentage point to 6 percent and reduced its deposit rates by a quarter of a percentage point to 3 percent. The bank said the lower rates are intended to boost economic growth in the second half of the year. Analysts said the cuts are also a sign that Chinese authorities are increasingly concerned about that country's economy. 

As the largest buyer of raw materials, a slowdown in China can hurt sales at a wide range of companies and cause commodities prices to weaken. Crude oil fell 44 cents to $87.22 per barrel, and copper lost 4.7 cents to $3.493 a pound. 

Central banks in Europe also moved to stem a slowdown there. The Bank of England approved a 50 billion pound injection into the ailing British economy, while the European Central Bank cut its main interest rate by a quarter of a percentage point to 0.75 percent, the lowest it's been since the bank was established in 1999. 

Usually central bank action to spur economies bolsters stock prices. But investors were cautious ahead of the closely-watched U.S. government's report on hiring for June that is scheduled for release on Friday. 

"Given the big negative headlines we have had this past month from Europe, business owners would have been cautious about hiring," said Steven Goldman, principal of asset manager Goldman Management. Goldman expects the data to reflect a weak jobs market. 

Economists are predicting that the unemployment rate held steady at 8.2 percent. 

However, at least two reports on Thursday sketched a picture of a slowly improving job market. 

Weekly unemployment benefit applications dropped by 14,000 to 374,000, the Labor Department said Thursday. That's the fewest since the week of May 19. 

Separately, payroll provider ADP said businesses added 176,000 jobs last month. That's better than the revised total of 136,000 jobs it reported for May. If that pace keeps up, it would be enough to lower the unemployment rate. 

An increase in jobs will spur people to spend and provide a boost to the economy. Though some key retailers reported poor sales for June, several others beat analysts' expectations. 

Ross Stores stock rose $4.41, or over 7 percent, to $67.19 after the discount store operator said sales at stores open at least a year rose 7 percent in June, easily beating Wall Street predictions. TJX Cos., which operates T.J. Maxx, Marshalls and Home Goods stores, also reported a wider-than-expected 7 percent increase in sales last month. Its stock rose $1.59, or 3.7 percent, to $44.09. 

Among other stocks making big moves: 

”” Netflix jumped $9.68, or 13.5 percent, to $81.72 after the company said earlier this week that its online subscriber base was increasing. 

”” Apple gained $10.53, or 1.76 percent, to $609.94, after The Wall Street Journal reported that the company is preparing to come out with a tablet computer with a screen smaller than the one its hugely popular iPad. 

”” OraSure Technologies Inc. surged $1.26, or 10.4 percent, to $13.35 after the Food and Drug Administration approved the healthcare product company's in-home oral test for HIV, which will be sold in stores starting in October.


----------



## bigdog

Source: http://finance.yahoo.com

Investors abandoned stocks Friday after the U.S. government reported that only 80,000 jobs were created in June, the third straight month of weak hiring. 

The Dow Jones industrial average fell 124.20 points to close at 12,772.47. The loss wiped out the Dow's gain for the week. 

The reluctance of U.S. employers to add jobs shows that the economy is still struggling three years after the recession officially ended. An average of just 75,000 jobs were created every month in the April-June quarter, far below the 226,000 created every month in the first three months of the year. 

"It shows the U.S. economy is losing momentum," said Sharon Stark, chief market strategist at the brokerage firm Sterne Agee. "It's a sign of everyone waiting to see what's next." 

Of the 30 stocks in the Dow average, only five rose, including McDonald's and AT&T. The world's largest producer of aluminum, Alcoa, and Caterpillar, the construction equipment maker, were among the hardest-hit Dow stocks with declines of about 3 percent each. Materials and industrial companies are the most likely to suffer if the economy weakens. 

The anemic jobs report led investors to shift money into low-risk assets. The price of the 10-year Treasury note rose, sending its yield down to 1.55 percent from 1.60 percent late Thursday. The dollar rose against the euro. 

The sluggish growth in American jobs comes at a time when the global economy is also losing pace. Central banks in Europe and China took action Thursday to prop up their sliding economies. 

The new signs of economic sluggishness around the world sent commodities prices lower. Crude oil dropped $2.77, or 3 percent, to $84.45 a barrel. The U.S. is the world's biggest oil consumer, and the prospect of lower demand pushed down prices. 

In other trading on Wall Street, the Standard & Poor's 500 slid 12.90 points, or 0.9 percent, to 1,354.68 and the Nasdaq composite fell 38.79 points, or 1.3 percent, to 2,937.33. 

One of the reasons stocks fell is that though the jobs report was weak, the country isn't heading into a recession. That suggests the Federal Reserve is less likely to take more action to stimulate the economy, according to Brian Jacobsen, chief portfolio strategist at Wells Fargo Advantage Funds.


 *The NYSE DOW closed  	LOWER ▼	-124.20	points or ▼	-0.96%	Friday, 6 July 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,772.47	▼	-124.20	▼	-0.96%	
	Nasdaq____	2,937.33	▼	-38.78	▼	-1.30%	
	S&P_500__	1,354.68	▼	-12.90	▼	-0.94%	
	30_Yr_Bond	2.664	▼	-0.06	▼	-2.13%	

NYSE Volume	 2,662,059,250 			 		 	
Nasdaq Volume	 1,428,049,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,662.63	▼	-30.00	▼	-0.53%	
	DAX_____	6,410.11	▼	-125.45	▼	-1.92%	
	CAC_40__	3,168.79	▼	-60.57	▼	-1.88%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,199.00	▼	-10.90	▼	-0.26%	
	Shanghai_Comp	2,223.58	▲	22.23	▲	1.01%	
	Taiwan_Weight	7,368.59	▼	-19.19	▼	-0.26%	
	Nikkei_225____	9,020.75	▼	-59.05	▼	-0.65%	
	Hang_Seng____	19,800.64	▲	53.93	▼	-0.04%	
	Strait_Times___	2,978.55	▲	7.08	▲	0.24%	
	NZX 50 Index__	3,478.70	▼	-5.50	▼	-0.16%	


http://finance.yahoo.com/news/us-stocks-plunge-weak-june-160941251.html

*US stocks plunge after weak June jobs report

Stocks fall sharply on Wall Street after US reports third month of anemic job growth*

By Pallavi Gogoi, AP Business Writer

Investors abandoned stocks Friday after the U.S. government reported that only 80,000 jobs were created in June, the third straight month of weak hiring. 

The Dow Jones industrial average fell 124.20 points to close at 12,772.47. The loss wiped out the Dow's gain for the week. 

The reluctance of U.S. employers to add jobs shows that the economy is still struggling three years after the recession officially ended. An average of just 75,000 jobs were created every month in the April-June quarter, far below the 226,000 created every month in the first three months of the year. 

"It shows the U.S. economy is losing momentum," said Sharon Stark, chief market strategist at the brokerage firm Sterne Agee. "It's a sign of everyone waiting to see what's next." 

Of the 30 stocks in the Dow average, only five rose, including McDonald's and AT&T. The world's largest producer of aluminum, Alcoa, and Caterpillar, the construction equipment maker, were among the hardest-hit Dow stocks with declines of about 3 percent each. Materials and industrial companies are the most likely to suffer if the economy weakens. 

The anemic jobs report led investors to shift money into low-risk assets. The price of the 10-year Treasury note rose, sending its yield down to 1.55 percent from 1.60 percent late Thursday. The dollar rose against the euro. 

The sluggish growth in American jobs comes at a time when the global economy is also losing pace. Central banks in Europe and China took action Thursday to prop up their sliding economies. 

The new signs of economic sluggishness around the world sent commodities prices lower. Crude oil dropped $2.77, or 3 percent, to $84.45 a barrel. The U.S. is the world's biggest oil consumer, and the prospect of lower demand pushed down prices. 

Energy stocks followed the price of oil lower. Peabody Energy fell $1.27, or close to 5 percent, to $24.86, while Alpha Natural Resources declined 60 cents, or 6.5 percent, to $8.67. 

In other trading on Wall Street, the Standard & Poor's 500 slid 12.90 points, or 0.9 percent, to 1,354.68 and the Nasdaq composite fell 38.79 points, or 1.3 percent, to 2,937.33. 

One of the reasons stocks fell is that though the jobs report was weak, the country isn't heading into a recession. That suggests the Federal Reserve is less likely to take more action to stimulate the economy, according to Brian Jacobsen, chief portfolio strategist at Wells Fargo Advantage Funds. 

A new round of bond-buying by the Fed is "quite unlikely," Jacobsen said. The Federal Reserve has made two rounds of bond purchases since the financial crisis to keep interest rates low and encourage banks to lend money. 

European markets also lost ground on Friday. A week after investors welcomed an agreement among European leaders to help Spain and Italy, the borrowing rates of both countries rose again. That means bond investors are less willing to loan those countries money at favorable rates. 

The yield on the 10-year Spanish government bond rose 0.22 percentage point to 6.96 percent earlier in the day. That's a very high level and could eventually force Spain to seek more financial support from its neighbors in Europe. 

European stock indexes slid. Germany's DAX and France's CAC-40 each lost 1.9 percent. Spain's benchmark index slumped 3 percent. 

Other Wall Street stocks making big moves included: 

”” Navistar International. The truck maker's stock fell $4.37, or over 15 percent, to $24.42 on investor worries that the heavy engine and truck maker will have to incur additional costs to get a crucial new engine approved by federal regulators. 

”” Sequenom Inc. The stock fell 8 cents, or 2 percent, to $3.99 after a California court refused to block a competitor from selling a similar product to Sequenom's Down syndrome test for pregnant women. 

”” Informatica Corp. The business software maker fell $12, or 28 percent, to $31.36 after warning that its second-quarter results didn't live up to the projections of its management or analysts.

2323


----------



## bigdog

Source: http://finance.yahoo.com 

Edgy investors sent stocks lower Monday on Wall Street ahead of U.S. corporate earnings reports and amid more signs of instability in Europe. 

The Dow Jones industrial average closed down 36.18 points at 12,736.29. It was the Dow's third straight day of declines. 

The Standard & Poor's 500 index fell 2.22 points to 1,352.46 and the Nasdaq composite index fell 5.56 points to 2,931.77. Health care stocks rose the most, while stocks of materials companies fell the most. 

Alcoa, one of the 30 stocks in the Dow, became the first major U.S. company to report second-quarter results after the market closed Monday. 

The aluminum manufacturer beat the earnings per share estimates of Wall Street analysts by a penny, although revenue dropped due to weaker prices and pockets of declining demand in the slowing global economy. 

Alcoa's results are often seen as a harbinger for other major companies. So far, investor expectations are low. Wall Street forecasts a 1 percent decline in second-quarter earnings of S&P 500 companies compared with last year, according to Standard & Poor's Capital IQ. That would be the first decline since the third quarter of 2009. 

Kim Caughey-Forrest, senior equity analyst at Fort Pitt Capital Group, said many portfolio managers are afraid that this earnings season could bring bad surprises about stocks they've picked up earlier this year. 

"It's report card time," Caughey-Forrest said. 

AMD dropped 6 percent in after-hours trading after the semiconductor company unexpectedly released preliminary results following the market close. Revenue fell 11 percent from the previous quarter due to weak sales in China and Europe. The company had previously forecast revenue growth of 3 percent. The stock slumped 33 cents to $5.29. 

Investors were also spooked Monday by news from Europe, where Spain's borrowing costs rose as finance ministers from the euro countries gathered in Brussels to finalize a rescue package for Spain's banks. 

The interest rate on Spain's 10-year government bond rose to 7 percent. Greece, Ireland and Portugal all asked for help from their international lenders when their own borrowing costs rose that high.		

 *The NYSE DOW closed  	LOWER ▼	-36.18	points or ▼	-0.28%	Monday, 9 July 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,736.29	▼	-36.18	▼	-0.28%	
	Nasdaq____	2,931.77	▼	-5.55	▼	-0.19%	
	S&P_500__	1,352.46	▼	-2.22	▼	-0.16%	
	30_Yr_Bond	2.620	▼	-0.04	▼	-1.65%	

NYSE Volume	 2,852,208,250 			 		 	
Nasdaq Volume	 1,438,876,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,627.33	▼	-35.30	▼	-0.62%	
	DAX_____	6,387.57	▼	-22.54	▼	-0.35%	
	CAC_40__	3,156.80	▼	-11.99	▼	-0.38%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,159.80	▼	-39.20	▼	-0.93%	
	Shanghai_Comp	2,170.81	▼	-52.77	▼	-2.37%	
	Taiwan_Weight	7,309.96	▼	-58.63	▼	-0.80%	
	Nikkei_225____	8,896.88	▼	-123.87	▼	-1.37%	
	Hang_Seng____	19,428.09	▲	53.93	▼	-1.88%	
	Strait_Times___	2,929.08	▼	-49.47	▼	-1.66%	
	NZX 50 Index__	3,480.19	▲	1.49	▲	0.04%	

http://finance.yahoo.com/news/stocks-slide-ahead-corporate-earnings-164344318.html

*Stocks slide ahead of corporate earnings season

Stocks slide ahead of the start of corporate earnings season; Spain's borrowing rates rise*

By Pallavi Gogoi, AP Business Writer

Edgy investors sent stocks lower Monday on Wall Street ahead of U.S. corporate earnings reports and amid more signs of instability in Europe. 

The Dow Jones industrial average closed down 36.18 points at 12,736.29. It was the Dow's third straight day of declines. 

The Standard & Poor's 500 index fell 2.22 points to 1,352.46 and the Nasdaq composite index fell 5.56 points to 2,931.77. Health care stocks rose the most, while stocks of materials companies fell the most. 

Alcoa, one of the 30 stocks in the Dow, became the first major U.S. company to report second-quarter results after the market closed Monday. 

The aluminum manufacturer beat the earnings per share estimates of Wall Street analysts by a penny, although revenue dropped due to weaker prices and pockets of declining demand in the slowing global economy. 

Alcoa's results are often seen as a harbinger for other major companies. So far, investor expectations are low. Wall Street forecasts a 1 percent decline in second-quarter earnings of S&P 500 companies compared with last year, according to Standard & Poor's Capital IQ. That would be the first decline since the third quarter of 2009. 

Kim Caughey-Forrest, senior equity analyst at Fort Pitt Capital Group, said many portfolio managers are afraid that this earnings season could bring bad surprises about stocks they've picked up earlier this year. 

"It's report card time," Caughey-Forrest said. 

AMD dropped 6 percent in after-hours trading after the semiconductor company unexpectedly released preliminary results following the market close. Revenue fell 11 percent from the previous quarter due to weak sales in China and Europe. The company had previously forecast revenue growth of 3 percent. The stock slumped 33 cents to $5.29. 

Investors were also spooked Monday by news from Europe, where Spain's borrowing costs rose as finance ministers from the euro countries gathered in Brussels to finalize a rescue package for Spain's banks. 

The interest rate on Spain's 10-year government bond rose to 7 percent. Greece, Ireland and Portugal all asked for help from their international lenders when their own borrowing costs rose that high. 

In Greece, a new three-party coalition government won a vote of confidence in parliament early Monday, ending a period of uncertainty that led to two elections in less than two months. Greece is in its fifth year of recession and has survived for two years on international rescue loans. 

Spain is in better shape financially, and can afford the high rates for a few weeks at least. However, a long-term solution is badly needed to prevent the nation, which has an unemployment rate near 25 percent, from defaulting. 

A pair of acquisitions were announced Monday. The nation's second largest health insurer, WellPoint Inc., is paying $4.46 billion to acquire Amerigroup Corp., a provider of Medicaid coverage provider. 

With the acquisition, Wellpoint seeks to become a major player in state and federally funded programs like Medicaid. Its stock rose $2.04, or 3.4 percent, to $61.95. Amerigroup soared $24.45, or 38 percent, to $88.79. 

Also on Monday, the world's biggest soup maker, Campbell Soup Co., said it will buy natural foods maker Bolthouse Farms in a $1.55 billion cash deal. Campbell stock fell 27 cents, or about 1 percent, to $32.72. 

Among other stocks making big moves: 

”” LinkedIn, the social networking company, fell $5.88, or 5.4 percent, to $102.98 after reports that Facebook would add a job search feature to its website, which could pose direct competition for LinkedIn. 

”” FTI Consulting, a business advisory company, lost $1.70, or 5.8 percent, to $27.43 after announcing on Friday that it was planning to cut 3 percent of its work force. 

”” Visa and MasterCard fell after an analyst recommended investors sell those stocks because of the global economic slowdown. MasterCard fell $10.36 to $431.27, while Visa fell $1.63 to $123.65


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks fell for the fourth straight day Tuesday following a profit slump at technology companies and a steep decline in oil prices, which sent energy stocks sharply lower. 

The Dow Jones industrial average fell 83.17 points to close at 12,653.12. Aluminum maker Alcoa was the biggest loser in the Dow, giving up 4 percent after reporting a slump in revenue late Monday. 

The broader Standard & Poor's 500 lost 10.99 points to 1,341.47. The index is in its longest slump since May 18. 

Chip maker Advanced Micro Devices fell sharply after reporting that a slowdown in China and Europe led to an 11 percent drop in second-quarter revenue. The company had previously forecast a gain of 3 percent. 

That news sent other technology stocks down hard. The tech-heavy Nasdaq composite dropped 1 percent, the most of the three major indexes. It closed 29.44 points lower at 2,902.33. 

The bad news outweighed hopeful developments in Europe earlier in the day. Before U.S. markets opened, European finance ministers announced they had agreed on the terms of a bailout for Spain's banks. The first installment of $37 billion in aid can be ready by the end of the month. 

Investors were concerned that some details seemed to be missing from the plan. 

Also weighing on the market: worries about a slew of upcoming corporate earnings reports. Financial analysts expect that earnings at companies in the S&P 500 fell 2 percent in the April-through-June period compared with a year ago, according to S&P Capital IQ. That would be the first drop in nearly three years. 

"The past quarter was great, but going forward many companies may have problems," said Joe Kinahan, chief derivatives strategist at TD Ameritrade, a brokerage. "People are confused about what to think." 

A resolution to a labor dispute in Norway early Friday weighed on oil prices, which pushed energy stocks lower. Early Tuesday, the Norwegian government intervened to end a strike that threatened North Sea oil production.

 *The NYSE DOW closed  	LOWER ▼	-83.17	points or ▼	-0.65%	Tuesday, 10 July 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,653.12	▼	-83.17	▼	-0.65%	
	Nasdaq____	2,902.33	▼	-29.43	▼	-1.00%	
	S&P_500__	1,341.47	▼	-10.99	▼	-0.81%	
	30_Yr_Bond	2.590	▼	-0.03	▼	-0.99%	

NYSE Volume	 3,439,566,000 			 		 	
Nasdaq Volume	 1,705,174,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,664.07	▲	36.74	▲	0.65%	
	DAX_____	6,438.33	▲	50.76	▲	0.79%	
	CAC_40__	3,175.41	▲	18.61	▲	0.59%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,137.90	▼	-21.90	▼	-0.53%	
	Shanghai_Comp	2,164.44	▼	-6.38	▼	-0.29%	
	Taiwan_Weight	7,251.35	▼	-58.61	▼	-0.80%	
	Nikkei_225____	8,857.73	▼	-39.15	▼	-0.44%	
	Hang_Seng____	19,386.25	▲	53.93	▼	-0.22%	
	Strait_Times___	2,964.62	▲	35.54	▲	1.21%	
	NZX 50 Index__	3,464.72	▼	-15.47	▼	-0.44%	

http://finance.yahoo.com/news/stocks-fall-fourth-day-tech-193714314.html

*Stocks fall for a fourth day as tech profits slump

Stocks fall for a fourth straight day as technology profits and the price of crude oil drop*

By Bernard Condon, AP Business Writer

Stocks fell for the fourth straight day Tuesday following a profit slump at technology companies and a steep decline in oil prices, which sent energy stocks sharply lower. 

The Dow Jones industrial average fell 83.17 points to close at 12,653.12. Aluminum maker Alcoa was the biggest loser in the Dow, giving up 4 percent after reporting a slump in revenue late Monday. 

The broader Standard & Poor's 500 lost 10.99 points to 1,341.47. The index is in its longest slump since May 18. 

Chip maker Advanced Micro Devices fell sharply after reporting that a slowdown in China and Europe led to an 11 percent drop in second-quarter revenue. The company had previously forecast a gain of 3 percent. 

That news sent other technology stocks down hard. The tech-heavy Nasdaq composite dropped 1 percent, the most of the three major indexes. It closed 29.44 points lower at 2,902.33. 

The bad news outweighed hopeful developments in Europe earlier in the day. Before U.S. markets opened, European finance ministers announced they had agreed on the terms of a bailout for Spain's banks. The first installment of $37 billion in aid can be ready by the end of the month. 

Investors were concerned that some details seemed to be missing from the plan. 

Also weighing on the market: worries about a slew of upcoming corporate earnings reports. Financial analysts expect that earnings at companies in the S&P 500 fell 2 percent in the April-through-June period compared with a year ago, according to S&P Capital IQ. That would be the first drop in nearly three years. 

"The past quarter was great, but going forward many companies may have problems," said Joe Kinahan, chief derivatives strategist at TD Ameritrade, a brokerage. "People are confused about what to think." 

A resolution to a labor dispute in Norway early Friday weighed on oil prices, which pushed energy stocks lower. Early Tuesday, the Norwegian government intervened to end a strike that threatened North Sea oil production. 

Benchmark crude oil fell $2.08 to $83.91 a barrel in New York. Major energy companies dropped as a result, including Occidental Petroleum, down $1.95 at $83.24, and ConocoPhillips, down 90 cents at $53.43. 

Natural gas producers took a hit from a sharp drop in the price of natural gas, which was down 5 percent at $2.74 per 1,000 cubic feet. Cabot Oil & Gas slumped $1.20 to $39.07 and Chesapeake Energy gave up $1.29 cents to $18.69. 

Also weighing on commodities was a report from China that import growth fell in half in June from May, a signal its economy may be slowing more than expected. The Chinese economy, the world's second biggest, is growing at its slowest pace since the 2008 financial crisis. 

Copper fell 1 percent to $3.40 per pound. China is a big importer of the metal. 

In stocks, the selling was broad. Eight of the ten industry groups in the S&P 500 fell. Industrial companies led the declines with a slump of 1.6 percent. Utilities and consumer staples, industries that fare better than others when the economy is struggling, rose slightly. 

In Europe, the deal to aid Spain helped push the yield on its benchmark 10-year government bond down to 6.8 percent. On Monday, that country's key borrowing rate surged to 7 percent, a dangerously high level. The lower yield means investors are less fearful about the country having trouble paying its debts. 

Portugal, Ireland and Greece all had to ask for help from international lenders after spikes in their own borrowing rates made it unaffordable for them to raise money from selling bonds on the open market. Spain is the largest European country to date to seek international assistance. 

In corporate news, Applied Materials, which makes equipment for chipmakers, cut its fiscal year profit and sales estimates because of weak demand. The stock fell 30 cents to $10.71. AMD, the chip maker hurt by slumping sales in China, plunged 63 cents to $4.99. 

Embattled BlackBerry maker Research in Motion fell 38 cents to $7.29. The company's CEO, Thorsten Heins, told a shareholders meeting that he isn't satisfied with the company's performance. Two weeks ago the company announced disappointing earnings, plans to cut 30 percent of its workforce and the latest delay in BlackBerry 10. 

Alcoa lost 36 cents to $8.40 after a financial analyst cut his estimate for the company's 2012 earnings. Alcoa reported Monday that it beat analyst estimate for earnings in the second quarter but that revenue dropped due to slowing world demand for aluminum. 

Two stocks fell for every one that rose on the New York Stock Exchange. Volume was lighter than average at 3.4 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market mostly recovered from an afternoon slump to end with slight losses. 

In minutes from their latest meeting released Wednesday afternoon, Federal Reserve officials said they saw a variety of threats to the U.S. economy, including a slowdown in China and a looming budget crunch in Washington. The Fed also didn't signal that new steps to stimulate the economy were on the way. 

Stock investors took the news badly at first, but by the end of the day were taking it in stride. The Dow Jones industrial average dropped as many as 118 points shortly after the 2 p.m. release of the Fed's minutes. Thanks to a recovery in the last hour it was down just 48 points at the closing bell, not much different from where it was earlier. 

Fed officials said the economy could struggle if Congress fails to avert tax hikes and across-the-board spending cuts scheduled for the end of the year. They also worried that Europe's debt crisis and China's slower growth would weigh on the U.S. 

But it was what the Fed didn't say that really tripped the stock market up, said Steven Ricchiuto, chief economist at Mizuho Securities USA. He said many traders had hoped to see evidence that the Fed was prepared to pull the trigger on a new bond-buying effort to prod the economy forward. 

"They didn't get what they wanted to see," Ricchiuto said. 

The Dow closed at 12,604.53, down 48.59 points. The Standard & Poor's 500 index slipped 0.02 of a point to 1,341.45. The technology-focused Nasdaq composite index lost 14.35 points to 2,887.98. 

It was the fifth straight day of losses for both the Dow and S&P. That's the worst stretch for both since a six-day losing streak that ran through May 18. With Europe still working out the details of a bailout for Spanish banks and the U.S. economy still sluggish, there's little for investors to buy stocks. 

"The bottom line is that there aren't a lot of investors willing to put money into this market," said Jeff Kleintop, chief market strategist at LPL Financial. "There's not much to get excited about." 			

 *The NYSE DOW closed  	LOWER ▼	-48.59	points or ▼	-0.38%	Wednesday, 11 July 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,604.53	▼	-48.59	▼	-0.38%	
	Nasdaq____	2,887.98	▼	-14.35	▼	-0.49%	
	S&P_500__	1,341.45	▼	-0.02	▲	0.00%	
	30_Yr_Bond	2.589	▼	-0.01	▼	-0.19%	

NYSE Volume	 3,391,516,500 			 		 	
Nasdaq Volume	 1,622,225,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,664.48	▲	0.41	▲	0.01%	
	DAX_____	6,453.85	▲	15.52	▲	0.24%	
	CAC_40__	3,157.25	▼	-18.16	▼	-0.57%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,135.00	▼	-2.90	▼	-0.07%	
	Shanghai_Comp	2,175.38	▲	10.95	▲	0.51%	
	Taiwan_Weight	7,257.91	▲	6.56	▲	0.09%	
	Nikkei_225____	8,851.00	▼	-6.73	▼	-0.08%	
	Hang_Seng____	19,419.87	▲	53.93	▲	0.12%	
	Strait_Times___	2,990.95	▲	26.33	▲	0.89%	
	NZX 50 Index__	3,478.84	▲	14.12	▲	0.41%	

http://finance.yahoo.com/news/stocks-close-lower-fifth-day-201650932.html

*Stocks close lower for fifth day straight

Stocks close lower after the Fed releases minutes from June meeting; oil stocks recover*

By Matthew Craft, AP Business Writer

The stock market mostly recovered from an afternoon slump to end with slight losses. 

In minutes from their latest meeting released Wednesday afternoon, Federal Reserve officials said they saw a variety of threats to the U.S. economy, including a slowdown in China and a looming budget crunch in Washington. The Fed also didn't signal that new steps to stimulate the economy were on the way. 

Stock investors took the news badly at first, but by the end of the day were taking it in stride. The Dow Jones industrial average dropped as many as 118 points shortly after the 2 p.m. release of the Fed's minutes. Thanks to a recovery in the last hour it was down just 48 points at the closing bell, not much different from where it was earlier. 

Fed officials said the economy could struggle if Congress fails to avert tax hikes and across-the-board spending cuts scheduled for the end of the year. They also worried that Europe's debt crisis and China's slower growth would weigh on the U.S. 

But it was what the Fed didn't say that really tripped the stock market up, said Steven Ricchiuto, chief economist at Mizuho Securities USA. He said many traders had hoped to see evidence that the Fed was prepared to pull the trigger on a new bond-buying effort to prod the economy forward. 

"They didn't get what they wanted to see," Ricchiuto said. 

The Dow closed at 12,604.53, down 48.59 points. The Standard & Poor's 500 index slipped 0.02 of a point to 1,341.45. The technology-focused Nasdaq composite index lost 14.35 points to 2,887.98. 

It was the fifth straight day of losses for both the Dow and S&P. That's the worst stretch for both since a six-day losing streak that ran through May 18. With Europe still working out the details of a bailout for Spanish banks and the U.S. economy still sluggish, there's little for investors to buy stocks. 

"The bottom line is that there aren't a lot of investors willing to put money into this market," said Jeff Kleintop, chief market strategist at LPL Financial. "There's not much to get excited about." 

The current batch of U.S. corporate earnings, which started to come in this week, isn't expected to help the stock market. Financial analysts forecast that companies in the S&P 500 will report a 2 percent earnings drop in the April-through-June period compared with the year before, according to the research firm S&P Capital IQ. That would be the first fall in profits since the summer quarter of 2009. 

Chevron and other energy stocks rose, following oil prices higher. The price of crude oil jumped $1.90, to $85.81 a barrel, after the government said U.S. crude supplies fell for a second week in a row, a sign that demand for energy may be increasing. 

Energy stocks led the 10 industry groups within the S&P 500 index, rising 1.4 percent. Chevron gained 97 cents to $104.85 and Exxon Mobil gained $1.27 to $84.38. 

In Europe, Spain's borrowing costs fell after the country imposed new sales tax hikes and spending cuts in a bid to slash nearly $80 billion from its budget over the next two and a half years. High borrowing rates and 25 percent unemployment are squeezing Spain's economy. 

Europe's debt crisis has led banks and investment funds from around the world to shift their money into Treasurys. High demand for Treasurys has kept U.S. government borrowing rates low. 

The Treasury auctioned 10-year notes at a record low interest rate Wednesday afternoon, 1.46 percent. 

Among other stocks making bigger moves than the overall market: 

”” HHGregg plunged 36 percent. The appliance and electronics retailer said after the market closed Tuesday that weak sales will cause its quarterly loss to widen. The company also cut its full-year earnings outlook. Analysts at SunTrust and Stifel Nicolaus downgraded the company's shares. The company's stock lost $4.20 to $7.34. 

”” AMC Networks jumped 2 percent. A stock analyst at Susquehanna Financial Group said AMC, whose shows include "Mad Men," and "The Walking Dead," could reach a settlement with Dish Network in their dispute over fees by mid-October. Dish replaced AMC's channels on July 1, arguing that they were too expensive. AMC's stock gained 86 cents to $40.73. Dish fell 3 percent, or 95 cents, to $26.80. 

”” Mead Johnson Nutrition surged 4 percent after a Chinese agency apologized for what it said were false accusations that the company's baby formula contained a possibly dangerous ingredient. The accusations helped knock the company's stock down 3 percent on Tuesday. Mead Johnson jumped $2.99 to $78.28.


----------



## bigdog

Source: http://finance.yahoo.com

U.S. stocks slid for a sixth day Thursday as concern spread that weaker global economic growth and the European debt crisis will hurt U.S. corporate earnings. The Dow Jones industrial average and Standard & Poor's 500 index had their longest losing streaks since mid-May. 

Billionaire investment guru Warren Buffett set a gloomy tone before the market opened, telling CNBC that weak demand is hurting his retail, jewelry, carpet and other businesses. He said business in Europe has dropped off quickly in the past two months. 

Other companies appear to be struggling as well. Aluminum maker Alcoa, which kicked off the second-quarter earnings season on Monday, reported very weak revenue because of the faltering global economy. Fastenal, a U.S. industrial distributor, reported revenue Thursday that was weaker than analysts were expecting. 

Hotel operator Marriott and Progressive, an insurance company, both plunged after reporting weak financial results. 

Traders also sweated about Europe's debt crisis and new Chinese economic data due out Friday. 

The Dow fell as much as 112 points in early trading. It recovered to turn briefly positive in the afternoon before closing with a loss of 31.26 points, or 0.3 percent, at 12,573.27. Dow component 3M fell $1.44, or 2 percent, to $86.41. Demand for the manufacturing conglomerate's products would weaken if the global economy faltered. 

The S&P 500 fell 6.69 points, or 0.5 percent, at 1,334.76. The Nasdaq composite index fell 21.79, or 0.8 percent, to 2,866.19.							

 *The NYSE DOW closed  	LOWER ▼	-31.26	points or ▼	-0.25%	Thursday, 12 July 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,573.27	▼	-31.26	▼	-0.25%	
	Nasdaq____	2,866.19	▼	-21.79	▼	-0.75%	
	S&P_500__	1,334.76	▼	-6.69	▼	-0.50%	
	30_Yr_Bond	2.564	▼	-0.03	▼	-0.97%	

NYSE Volume	 3,654,441,000 			 		 	
Nasdaq Volume	 1,710,358,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,608.25	▼	-56.23	▼	-0.99%	
	DAX_____	6,419.35	▼	-34.50	▼	-0.53%	
	CAC_40__	3,135.18	▼	-22.07	▼	-0.70%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,106.00	▼	-29.00	▼	-0.70%	
	Shanghai_Comp	2,185.49	▲	10.11	▲	0.46%	
	Taiwan_Weight	7,130.93	▼	-126.98	▼	-1.75%	
	Nikkei_225____	8,720.01	▼	-130.99	▼	-1.48%	
	Hang_Seng____	19,025.11	▲	53.93	▼	-2.03%	
	Strait_Times___	2,972.04	▼	-17.27	▼	-0.58%	
	NZX 50 Index__	3,501.40	▲	22.56	▲	0.65%	

http://finance.yahoo.com/news/stocks-slide-wall-street-sixth-151627667.html

*Stocks slide on Wall Street for sixth straight day

Another slide on Wall Street; Dow and S&P 500 index mark sixth day of losses in a row*

By Daniel Wagner, AP Business Writer

U.S. stocks slid for a sixth day Thursday as concern spread that weaker global economic growth and the European debt crisis will hurt U.S. corporate earnings. The Dow Jones industrial average and Standard & Poor's 500 index had their longest losing streaks since mid-May. 

Billionaire investment guru Warren Buffett set a gloomy tone before the market opened, telling CNBC that weak demand is hurting his retail, jewelry, carpet and other businesses. He said business in Europe has dropped off quickly in the past two months. 

Other companies appear to be struggling as well. Aluminum maker Alcoa, which kicked off the second-quarter earnings season on Monday, reported very weak revenue because of the faltering global economy. Fastenal, a U.S. industrial distributor, reported revenue Thursday that was weaker than analysts were expecting. 

Hotel operator Marriott and Progressive, an insurance company, both plunged after reporting weak financial results. 

Traders also sweated about Europe's debt crisis and new Chinese economic data due out Friday. 

The Dow fell as much as 112 points in early trading. It recovered to turn briefly positive in the afternoon before closing with a loss of 31.26 points, or 0.3 percent, at 12,573.27. Dow component 3M fell $1.44, or 2 percent, to $86.41. Demand for the manufacturing conglomerate's products would weaken if the global economy faltered. 

The S&P 500 fell 6.69 points, or 0.5 percent, at 1,334.76. The Nasdaq composite index fell 21.79, or 0.8 percent, to 2,866.19. 

Supermarket operator Supervalu plunged by nearly half after the company reported a sharp drop in net income late Tuesday and suspended its dividend. Supervalu, which owns Albertsons, Jewel-Osco and Save-A-Lot, lost $2.60 to close at $2.69. 

Supervalu's losses dragged on rival grocery chain Safeway, which fell $2.25, or 13 percent, to $15.73. Safeway's was the biggest percentage decline in the S&P 500 index. 

The weak corporate results will likely prompt analysts to lower their quarterly earnings forecasts for the entire S&P 500, said John Fox, co-manager of the FAM Value Fund, which specializes in small and medium-sized companies. 

"There will be more disappointments than surprises," Fox said. "It's a global world, and many of the small companies we invest in do business all over the world," he said, adding that his firm already is using estimates that are below Wall Street's consensus. 

Fox said Buffett sounded far more negative than he has over the past year. At Berkshire's last annual meeting, which Fox attended, Buffett declared that all but a handful of the conglomerate's companies were doing better. 

"The tone of his comments has definitely changed, which I think is a fair reflection of the environment," Fox said. 

In Europe, Spain's borrowing costs crept higher, a sign that investors fear the country might default. Spain's neighbors are rescuing the country's banks, but the government itself was not bailed out and bond investors are not satisfied. Spain's main stock index closed down 2.6 percent. 

Greece continues to struggle. Its government said unemployment there continues to rise and hit 22.5 percent in April. 

The euro fell to a two-year low as fed-up investors questioned the region's ability to solve its debt crisis conclusively. It fell as low as $1.2165 and is down about five cents already this month. 

A stronger dollar is another threat to U.S. corporate earnings, Fox said, because it makes U.S. goods more expensive to overseas buyers. Later, when companies convert those sales back into dollars, the unfavorable exchange rate shrinks the value of revenue earned overseas. 

Traders also are concerned that China's economy is growing more slowly and might deprive the world of a crucial economic engine. New numbers due out on Friday are expected to show that growth in the second quarter fell to 7.3 percent from the previous quarter's 8.1 percent, which is already a three-year low. Revenue from the construction, shipbuilding and export manufacturing industries might have been cut in half since last year. 

Among the companies making big moves: 

”” Marriott International dropped 6 percent. The hotel operator reported revenue late Wednesday that fell short of analysts' expectations. The company also cut its prediction for fees it would make from in-room services like wireless Internet. The stock fell $2.45 to $35.58. 

”” Progressive, an auto insurance company, fell 5 percent after reporting a 52 percent drop in second-quarter income, partly due to an investment loss. The results were far weaker than analysts had expected. Progressive fell $1.02 to $19.53.


----------



## bigdog

Source: http://finance.yahoo.com 

US stocks surge at the end of a rough week; JPMorgan and Wells Fargo post stronger earnings

JPMorgan Chase blew away a cloud of concern hanging over the banking industry Friday and set off a rally in stocks. Relieved investors drove up bank stocks, ended a six-day losing streak for the market and sent the Dow Jones industrial average up 204 points, the best day this month. 

JPMorgan jumped 6 percent, the biggest gain in the Dow by far. The country's largest bank earned $5 billion in the most recent quarter, easily beating Wall Street's forecasts, even as it took a deeper loss from a complex trade that went wrong. The results brightened the outlook for other major banks. If JPMorgan could sustain such a hard hit and still post stronger earnings, the thinking went, maybe others could, too. 

"Today is all about bank uncertainty getting resolved," said Doug Cote, chief market strategist at ING Investment Management. "To me, that's what is really driving the market." 

JPMorgan revealed that the loss from a derivative trade it first disclosed in May had grown to $5.8 billion, nearly triple the original estimate. Its stock shot up $2.03 to $36.07. 

The bank's underwriting business also fared better than many expected. That rubbed off on the investment banks Goldman Sachs and Morgan Stanley, driving both up more than 3 percent. Goldman jumped $3.41 to $97.43. Morgan Stanley rose 50 cents to $14.05. 

The Dow gained 203.82 points to close at 12,777.09. 

Wells Fargo, the other major bank reporting results Friday, said a strong pickup in lending lifted its net income 18 percent. Wells Fargo has managed to avoid problems plaguing other big banks and is now the country's largest mortgage lender. The bank's stock gained 3 percent, or $1.06, to $33.91.

The surge erased the week's losses for the main indexes. The Dow would up flat for the week, and the S&P eked out a 0.2 percent gain. The technology-heavy Nasdaq, which is more sensitive to swings in the economy, slumped 1 percent. 						

 *The NYSE DOW closed  	HIGHER ▲	203.82	points or ▲	1.62%	Friday, 13 July 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,777.09	▲	203.82	▲	1.62%	
	Nasdaq____	2,908.47	▲	42.28	▲	1.48%	
	S&P_500__	1,356.78	▲	22.02	▲	1.65%	
	30_Yr_Bond	2.584	▲	0.02	▲	0.78%	

NYSE Volume	 3,190,493,000 			 		 	
Nasdaq Volume	 1,357,620,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,666.13	▲	57.88	▲	1.03%	
	DAX_____	6,557.10	▲	137.75	▲	2.15%	
	CAC_40__	3,180.81	▲	45.63	▲	1.46%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,118.30	▲	12.30	▲	0.30%	
	Shanghai_Comp	2,185.90	▲	0.40	▲	0.02%	
	Taiwan_Weight	7,104.27	▼	-26.66	▼	-0.37%	
	Nikkei_225____	8,724.12	▲	4.11	▲	0.05%	
	Hang_Seng____	19,092.63	▲	53.93	▲	0.35%	
	Strait_Times___	2,995.56	▲	23.52	▲	0.79%	
	NZX 50 Index__	3,495.41	▼	-5.99	▼	-0.17%	

http://finance.yahoo.com/news/jpmorgan-chase-launches-stock-market-163915108.html

*JPMorgan Chase launches a stock market rally

US stocks surge at the end of a rough week; JPMorgan and Wells Fargo post stronger earnings*

By Matthew Craft, AP Business Writer

JPMorgan Chase blew away a cloud of concern hanging over the banking industry Friday and set off a rally in stocks. Relieved investors drove up bank stocks, ended a six-day losing streak for the market and sent the Dow Jones industrial average up 204 points, the best day this month. 

JPMorgan jumped 6 percent, the biggest gain in the Dow by far. The country's largest bank earned $5 billion in the most recent quarter, easily beating Wall Street's forecasts, even as it took a deeper loss from a complex trade that went wrong. The results brightened the outlook for other major banks. If JPMorgan could sustain such a hard hit and still post stronger earnings, the thinking went, maybe others could, too. 

"Today is all about bank uncertainty getting resolved," said Doug Cote, chief market strategist at ING Investment Management. "To me, that's what is really driving the market." 

JPMorgan revealed that the loss from a derivative trade it first disclosed in May had grown to $5.8 billion, nearly triple the original estimate. Its stock shot up $2.03 to $36.07. 

The bank's underwriting business also fared better than many expected. That rubbed off on the investment banks Goldman Sachs and Morgan Stanley, driving both up more than 3 percent. Goldman jumped $3.41 to $97.43. Morgan Stanley rose 50 cents to $14.05. 

The Dow gained 203.82 points to close at 12,777.09. 

Wells Fargo, the other major bank reporting results Friday, said a strong pickup in lending lifted its net income 18 percent. Wells Fargo has managed to avoid problems plaguing other big banks and is now the country's largest mortgage lender. The bank's stock gained 3 percent, or $1.06, to $33.91. 

Todd Salamone, director of research at Schaeffer's Investment Research, said the rally in bank stocks shows that investors had expected the worst. When they're too gloomy on an industry, the slightest bit of good news can jolt their stocks up. 

"The bar for earnings is set extremely low, and a lot of people have been betting against banks" he said. "The lower the bar, the easier it is for positive surprises." 

The rally swept across the stock market. Five stocks rose for every one that fell on the New York Stock Exchange, and all 10 industry groups within the S&P 500 rose, led by financial firms. 

The surge erased the week's losses for the main indexes. The Dow would up flat for the week, and the S&P eked out a 0.2 percent gain. The technology-heavy Nasdaq, which is more sensitive to swings in the economy, slumped 1 percent. 

The stock market took a beating this week as the U.S. corporate earnings season got off to a weak start and Europe stumbled along in its latest attempts to resolve the region's debt crisis. 

In other trading, the Standard & Poor's 500 index rose 22.02 points to 1,356.78 and the Nasdaq composite gained 42.28 points to 2,908.47. 

Among other stocks making big moves: 

”” Procter & Gamble rose 2 percent after reports emerged that board members of the consumer products giant are considering the removal of Chief Executive Officer Robert McDonald. On Thursday the Federal Trade Commission cleared activist investor William Ackman's hedge fund to make an investment in the company, whose many products include Tide, Bounce and Duracell. P&G rose $1.39 to $65.09 and gained 6 percent for the week. 

”” Lexmark International plunged 16 percent. The printer maker warned late Thursday that it fared worse during the second quarter than expected, a result of slowing business spending. Its stock fell $3.95 to $20.36. 

”” Phillips 66 jumped 6 percent, following news that Warren Buffett said Berkshire Hathaway has invested in the refining company. The stock rose $1.93 to $34.94.

2883


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks closed lower for the seventh day out of the last eight on Monday after the government reported that U.S. consumers cut their spending last month. 

The news pushed stocks down from the start of the trading day. Though they recovered a bit around midday, all three major indexes closed down. The Dow Jones industrial average dropped 49.88 points, or 0.4 percent, to 12,727.21. 

Before trading opened, the Commerce Department said retail sales fell 0.5 percent in June from the month before as Americans spent less on autos, furniture and appliances. 

It was the third straight month of declining sales, a worrisome trend. The last time sales slumped for so long was in the fall of 2008, at the worst point of the global financial crisis. 

"The summer soft patch is here, and it could be here a while," said Randy Frederick, a managing director at Charles Schwab, the stock brokerage firm. "Consumers are belt-tightening." 

Also dampening spirits, the International Monetary Fund said it now forecasts the global economy to grow 3.9 percent in 2013, down from an earlier estimate of 4.1 percent. 

The Standard & Poor's 500 index fell 3.14 points, or 0.23 percent, to 1,353.64. The Nasdaq composite index fell 11.53 points, or 0.4 percent, to 2,896.94. 

 *The NYSE DOW closed  	LOWER ▼	-49.88	points or ▼	-0.39%	Monday, 16 July 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,727.21	▼	-49.88	▼	-0.39%	
	Nasdaq____	2,896.94	▼	-11.52	▼	-0.40%	
	S&P_500__	1,353.64	▼	-3.14	▼	-0.23%	
	30_Yr_Bond	2.548	▼	-0.04	▼	-1.39%	

NYSE Volume	 2,913,276,250 			 		 	
Nasdaq Volume	 1,465,590,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,662.43	▼	-3.70	▼	-0.07%	
	DAX_____	6,565.72	▲	8.62	▲	0.13%	
	CAC_40__	3,179.90	▼	-0.91	▼	-0.03%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,143.20	▲	24.90	▲	0.60%	
	Shanghai_Comp	2,147.96	▼	-37.94	▼	-1.74%	
	Taiwan_Weight	7,090.04	▼	-14.23	▼	-0.20%	
	Nikkei_225____	8,724.12	▲	4.11	▲	0.05%	
	Hang_Seng____	19,121.34	▲	53.93	▲	0.15%	
	Strait_Times___	2,998.75	▲	3.19	▲	0.11%	
	NZX 50 Index__	3,467.34	▼	-28.07	▼	-0.80%	

http://finance.yahoo.com/news/stocks-close-lower-consumer-spending-205750921.html

Stocks close lower after consumer spending slides
Report of a third straight month of weak consumer spending sends stocks lower on Wall Street
By Bernard Condon, AP Business Writer

Stocks closed lower for the seventh day out of the last eight on Monday after the government reported that U.S. consumers cut their spending last month. 

The news pushed stocks down from the start of the trading day. Though they recovered a bit around midday, all three major indexes closed down. The Dow Jones industrial average dropped 49.88 points, or 0.4 percent, to 12,727.21. 

Before trading opened, the Commerce Department said retail sales fell 0.5 percent in June from the month before as Americans spent less on autos, furniture and appliances. 

It was the third straight month of declining sales, a worrisome trend. The last time sales slumped for so long was in the fall of 2008, at the worst point of the global financial crisis. 

"The summer soft patch is here, and it could be here a while," said Randy Frederick, a managing director at Charles Schwab, the stock brokerage firm. "Consumers are belt-tightening." 

Also dampening spirits, the International Monetary Fund said it now forecasts the global economy to grow 3.9 percent in 2013, down from an earlier estimate of 4.1 percent. 

The Standard & Poor's 500 index fell 3.14 points, or 0.23 percent, to 1,353.64. The Nasdaq composite index fell 11.53 points, or 0.4 percent, to 2,896.94. 

Companies that rely heavily on consumer spending were among the weakest on the New York Stock Exchange. Home Depot fell 64 cents, or 1.2 percent, to $51.45. Lowe's Cos. lost 92 cents, or 3.4 percent, to $25.80. 

Industrial stocks also fell sharply. General Electric and Caterpillar, a heavy equipment maker, each fell about 1 percent. GE lost 18 cents to $19.59. Caterpillar lost 92 cents to $81.15, one of the biggest losses among the 30 stocks that make up the Dow average. 

Comments from Chinese Premier Wen Jiabao over the weekend also weighed on the market. Wen said his country's economy has not yet entered a recovery and "economic difficulties may continue for some time." Some of the weakness in China comes from the debt crisis in Europe, which has crippled spending on imported goods. 

In the Treasury market, the yield on the benchmark 10-year Treasury fell to 1.45 percent from 1.49 percent late Friday as investors sought the relative safety of government debt. 

In Europe, borrowing rates for Italy and Spain rose again, the latest signal that bond investors are leery of the finances of those countries. Stocks fell 2 percent in Spain and 0.4 percent in Italy. Benchmark indexes in Germany and France were flat. 

The U.S. corporate earnings season resumes in earnest this week with reports from major companies that cover a wide span of the economy. On deck Tuesday are Harley-Davidson, Coca-Cola, Goldman Sachs and Johnson & Johnson. Intel and Yahoo also report this week. 

Other stocks making big moves included: 

”” Visa rose $3.06 to $127.15 and MasterCard rose $7.29 to $436.89. The two giant payment processing companies, along with major banks, settled a seven-year old lawsuit with merchants over fees they charge when customers pay with credit cards. 

”” Par Pharmaceutical jumped $13.42 to $50. The generic drug maker agreed to be acquired for $1.84 billion in cash by the private investment firm TPG. The offer was a 37 percent premium to Friday's closing price. 

”” Yahoo rose 34 cents in after-hours trading to $15.98 after the company named longtime Google executive Marissa Mayer to be its next CEO. Mayer will be the fifth leader the struggling Internet pioneer has had in the past five years. 

Declining stocks narrowly outpaced rising ones. Volume was light at 2.9 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com

Earnings reports from Mattel, Coca-Cola and others lift stocks to a rare July win

Stronger earnings from Mattel, Coca-Cola and other big companies lifted the Standard & Poor's 500 index on Tuesday for only the fourth day this month. 

Mattel jumped 9 percent, more than any other company in the S&P. The country's biggest toy maker said net income rose because of better sales of Barbie dolls and lower advertising costs. Its stock climbed $3.01 to $34.05. 

Coca-Cola posted higher income and revenue than Wall Street had expected, thanks in part to booming business overseas. Coke rose $1.21, or 1.6 percent, to $77.69. 

The S&P rose 10.03 points to 1,363.67. The Dow Jones industrial average gained 78.33 points to 12,805.54, only its third increase of the month. Concern about corporate earnings and slower economic growth have weighed on the market. 

The stock market wavered between gains and losses in morning trading as investors kept an eye on Federal Reserve Chairman Ben Bernanke's first of two days of testimony before Congress. 

Bernanke said weaker economic growth probably means unemployment will remain stubbornly high. But he offered no signs that the Fed was ready to take action to bolster growth soon. 

"The big question here isn't whether the Fed will act," said Randy Frederick, managing director of active trading and derivatives at Charles Schwab. "We know they will. The question is how bad do things have to deteriorate before they act."							

 *The NYSE DOW closed  	HIGHER ▲	78.33	points or ▲	0.62%	Tuesday, 17 July 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,805.54	▲	78.33	▲	0.62%	
	Nasdaq____	2,910.04	▲	13.09	▲	0.45%	
	S&P_500__	1,363.67	▲	10.03	▲	0.74%	
	30_Yr_Bond	2.595	▲	0.05	▲	1.84%	

NYSE Volume	 3,566,679,000 			 		 	
Nasdaq Volume	 1,762,991,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,629.09	▼	-33.34	▼	-0.59%	
	DAX_____	6,577.64	▲	11.92	▲	0.18%	
	CAC_40__	3,176.97	▼	-2.93	▼	-0.09%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,175.30	▲	32.10	▲	0.77%	
	Shanghai_Comp	2,161.19	▲	13.23	▲	0.62%	
	Taiwan_Weight	7,127.00	▲	36.96	▲	0.52%	
	Nikkei_225____	8,755.00	▲	30.88	▲	0.35%	
	Hang_Seng____	19,476.01	▲	53.93	▲	1.85%	
	Strait_Times___	3,012.70	▲	13.95	▲	0.47%	
	NZX 50 Index__	3,468.86	▲	1.53	▲	0.04%	

http://finance.yahoo.com/news/stocks-rise-mattel-coke-among-163733127.html
*
Stocks rise; Mattel, Coke among earnings winners

Earnings reports from Mattel, Coca-Cola and others lift stocks to a rare July win*

By Matthew Craft, AP Business Writer 

Stronger earnings from Mattel, Coca-Cola and other big companies lifted the Standard & Poor's 500 index on Tuesday for only the fourth day this month. 

Mattel jumped 9 percent, more than any other company in the S&P. The country's biggest toy maker said net income rose because of better sales of Barbie dolls and lower advertising costs. Its stock climbed $3.01 to $34.05. 

Coca-Cola posted higher income and revenue than Wall Street had expected, thanks in part to booming business overseas. Coke rose $1.21, or 1.6 percent, to $77.69. 

The S&P rose 10.03 points to 1,363.67. The Dow Jones industrial average gained 78.33 points to 12,805.54, only its third increase of the month. Concern about corporate earnings and slower economic growth have weighed on the market. 

The stock market wavered between gains and losses in morning trading as investors kept an eye on Federal Reserve Chairman Ben Bernanke's first of two days of testimony before Congress. 

Bernanke said weaker economic growth probably means unemployment will remain stubbornly high. But he offered no signs that the Fed was ready to take action to bolster growth soon. 

"The big question here isn't whether the Fed will act," said Randy Frederick, managing director of active trading and derivatives at Charles Schwab. "We know they will. The question is how bad do things have to deteriorate before they act." 

As the earnings season got under way last week, analysts had expected quarterly profits for companies in the Standard & Poor's 500 index to fall 1 percent compared with the year before, according to S&P Capital IQ, the research arm of S&P. That would break a streak of higher earnings that started in the last quarter of 2009. 

Jack Ablin, the chief investment officer of Harris Private Bank, said that when investors are sure that earnings are going to be dismal, it can set the market up for a rally. 

Ablin joked that it was similar to how, as a child, he tried to convince his parents his grades were going to be awful. 

"That way, anything I brought home was a relief," he said. 

Goldman Sachs also reported earnings and revenue that beat Wall Street's forecasts. The bank said it bundled more mortgages into bonds, leading to a 37 percent increase in sales from mortgage and commodity trading. Its stock gained 30 cents to $97.98. 

The gains were broad. All 10 industries in the S&P 500 rose, led by health care companies. The Nasdaq composite index gained 13.10 points to 2,910.04. 

Among other stocks making big moves: 

”” Mosaic jumped 5 percent. The fertilizer maker's net income beat Wall Street's forecasts, with the help of stronger phosphate sales and higher prices for potash. Mosaic also doubled its quarterly dividend to 25 cents per share. The stock gained $2.84 to $58.21. 

”” Reports that HSBC allowed Mexican drug cartels to launder billions through its U.S. banks helped push the bank's stock down. A Senate investigation also said some HSBC bank affiliates ignored U.S. government bans against financial transactions with Iran and other countries. HSBC fell 20 cents to $43.28. 

”” Walt Disney led the Dow, gaining $1.49, or 3.1 percent, to $49.35 after getting an upgrade by analysts at Bank of America.


----------



## bigdog

Source: http://finance.yahoo.com 

A new sign of recovery in the housing market and strong corporate earnings sent stocks higher for a second day. 

The Dow Jones industrial average rose 103.16 points, or 0.8 percent, to 12,908.70 on Wednesday, a strong showing for what has been a mediocre July so far. The index has risen only four times in the last 12 trading days. 

"The market expects bad news, so when it doesn't get it, it rises," said John Manley, chief equity strategist at Wells Fargo Advantage Funds. "Earnings haven't been disastrous for the quarter." 

A big gain by Intel after it posted a strong earnings report drove up technology stocks, especially other chip makers. Those companies, plus industrials, were responsible for much of the market's gains. The Nasdaq composite climbed 32.56 points, or 1.1 percent, to 2,942.60. 

The government reported that builders broke ground last month on the most new homes and apartments in nearly four years. The 6.9 percent jump brought the number of housing starts to the highest since October 2008. The news came a day after a gauge of confidence among U.S. homebuilders jumped to the highest level in five years. 

The Standard & Poor's 500 index rose 9.11 points, or 0.7 percent, to 1,372.78. Amphenol jumped nearly 15 percent, the most in the index, after the maker of electronic cables and connectors reported second-quarter earnings that were higher than analysts were expecting. Its stock rose $7.58 to $58.94. 

For several weeks, big companies have talked down prospects for big jumps in earnings, and Wall Street analysts have slashed their forecasts in response. At the start of the earnings season last week, they said earnings for companies in the S&P 500 would likely fall 2 percent, according to S&P Capital IQ. 			

 *The NYSE DOW closed  	HIGHER ▲	103.16	points or ▲	0.81%	Wednesday, 18 July 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,908.70	▲	103.16	▲	0.81%	
	Nasdaq____	2,942.60	▲	32.56	▲	1.12%	
	S&P_500__	1,372.78	▲	9.11	▲	0.67%	
	30_Yr_Bond	2.580	▼	-0.02	▼	-0.58%	

NYSE Volume	 3,612,909,000 			 		 	
Nasdaq Volume	 1,793,360,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,685.77	▲	56.68	▲	1.01%	
	DAX_____	6,684.42	▲	106.78	▲	1.62%	
	CAC_40__	3,235.40	▲	58.43	▲	1.84%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,156.40	▼	-18.90	▼	-0.45%	
	Shanghai_Comp	2,169.10	▲	7.91	▲	0.37%	
	Taiwan_Weight	7,049.05	▼	-77.95	▼	-1.09%	
	Nikkei_225____	8,726.74	▼	-28.26	▼	-0.32%	
	Hang_Seng____	19,239.88	▲	53.93	▼	-1.11%	
	Strait_Times___	3,016.31	▲	1.51	▲	0.05%	
	NZX 50 Index__	3,474.05	▲	5.19	▲	0.15%	

http://finance.yahoo.com/news/jump-...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

Jump in housing starts, earnings send stocks up
US stocks rise for 2nd day after a jump in housing starts and better earnings reports
By Bernard Condon, AP Business Writer 

A new sign of recovery in the housing market and strong corporate earnings sent stocks higher for a second day. 

The Dow Jones industrial average rose 103.16 points, or 0.8 percent, to 12,908.70 on Wednesday, a strong showing for what has been a mediocre July so far. The index has risen only four times in the last 12 trading days. 

"The market expects bad news, so when it doesn't get it, it rises," said John Manley, chief equity strategist at Wells Fargo Advantage Funds. "Earnings haven't been disastrous for the quarter." 

A big gain by Intel after it posted a strong earnings report drove up technology stocks, especially other chip makers. Those companies, plus industrials, were responsible for much of the market's gains. The Nasdaq composite climbed 32.56 points, or 1.1 percent, to 2,942.60. 

The government reported that builders broke ground last month on the most new homes and apartments in nearly four years. The 6.9 percent jump brought the number of housing starts to the highest since October 2008. The news came a day after a gauge of confidence among U.S. homebuilders jumped to the highest level in five years. 

The Standard & Poor's 500 index rose 9.11 points, or 0.7 percent, to 1,372.78. Amphenol jumped nearly 15 percent, the most in the index, after the maker of electronic cables and connectors reported second-quarter earnings that were higher than analysts were expecting. Its stock rose $7.58 to $58.94. 

For several weeks, big companies have talked down prospects for big jumps in earnings, and Wall Street analysts have slashed their forecasts in response. At the start of the earnings season last week, they said earnings for companies in the S&P 500 would likely fall 2 percent, according to S&P Capital IQ. 

Earnings are still expected to fall, marking the first quarterly decline in nearly three years, but several companies have delivered pleasant surprises nonetheless. Honeywell International, a big technology and manufacturing company, reported an 11 percent increase in second-quarter income Wednesday, more than Wall Street was expecting, thanks to higher demand for its products. Honeywell also raised its forecast for full-year profits. Its stock jumped $3.64, or 7 percent, to $58.18. 

Of the 65 companies in the S&P 500 to report earnings so far, 43 have beat estimates, or 66 percent, according to S&P Capital IQ. That is slightly higher than the 62 percent long-term average. 

"Many of the risks ”” an anemic European economy, a slowdown in Asia ”” have been factored into earnings expectations," said Talley Leger, investment strategist at Macro Vision Research, an investment consulting firm. "That's why we're seeing positive surprises." 

Other earnings reports disappointed. Bank of America reported income that beat most analysts' expectations for the second quarter, but its revenue fell short. The stock fell 39 cents, or nearly 5 percent, to $6.59. Profit declined for PNC Financial Services Group and the investment manager BlackRock, sending both stocks down more than 0.5 percent. 

Among the gainers Wednesday was Intel, which rose 83 cents, or 3 percent, at $26.21. Investors also piled into Vivus Inc., pushing its stock up nearly 10 percent, after the drug maker announced approval from regulators to sell a new weight-loss pill. Doctors consider the pill, Qsymia, the most effective of a new generation of anti-obesity drugs. The company plans to start selling it by the end of the year. 

Madison Square Garden's stock lost 1 percent after the owner of the New York Knicks NBA team confirmed that it was losing star player Jeremy Lin to the Houston Rockets. The Knicks said they wouldn't match a three-year, $25 million offer for the player. MSG's stock fell 36 cents to $35.45. 

So far this year, the Dow is up 5.7 percent, but has mostly fallen this month. Thanks to Wednesday's gain, it's back in the black for July, but barely ”” up 0.2 percent. 

After the market closed, a few companies reporting second-quarter results added to the somewhat positive earnings picture. 

Ebay said net income more than doubled, and its stock jumped 6 percent in after-hours trading. IBM, a tech bellwether, reported earnings rose 6 percent, beating analyst estimates. Its stock rose 3 percent in extended trading. 

Yum Brands, the owner of Taco Bell, KFC and Pizza Hut, fell 2 percent after it reported a rare profit decline in its key China market. 

In addition to housing news, the Federal Reserve said Wednesday that its survey of the economy across the country showed modest expansion in June and early July, but that growth and hiring slowed in several regions. 

In his second day of testimony before Congress, Federal Reserve Chairman Ben Bernanke did not signal any new stimulus is imminent, though he did say the Fed was looking at "ways to address the weakness in the economy should more action be needed to promote a sustained recovery in the labor market." 

Treasury prices rose slightly as demand for low-risk assets remained strong. The yield on the benchmark 10-year Treasury note was flat at 1.50 percent. Germany auctioned $6.14 billion in two-year treasury notes Wednesday with an average interest rate, or yield, of minus 0.06 percent. 

Three stocks rose for every one that fell on the New York Stock Exchange. Volume was average at 3.6 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks head higher for third day in a row; IBM, eBay jump after posting better earnings

Strong earnings from IBM and other technology companies nudged the stock market higher Thursday, but a trio of weak economic reports kept the gains in check. 

IBM surged 4 percent after it posted a jump in profits late Wednesday even as revenue fell. It marked the 38th consecutive quarter that IBM's net income rose over the previous year. IBM leapt $7.09 to $195.34. 

The Dow Jones industrial average rose 34.66 points to close at 12,943.36 on Thursday, the third straight day of gains. 

"One thing is dominating today and it's tech earnings," said Lawrence Creatura, portfolio manager at the mutual fund manager Federated Investors. "Earnings have been better than a lot of people expected. That could still change, but so far, so good." 

Analysts forecast that earnings at S&P 500 companies shrank 1.5 percent in the April-through-June period versus a year ago, according to researchers at S&P Capital IQ. If that turns out to be true, it will be the worst earnings season since the summer quarter of 2009. 

In other trading, the Standard & Poor's 500 index gained 3.73 points to 1,376.51. The Nasdaq composite index rose 23.30 points to 2,965.90. 

Despite the modest gains, utilities and consumer staples lagged behind the market, usually a sign that investors were willing to take on risk. 

eBay jumped 9 percent after the company reported that its second-quarter net income doubled, thanks to higher revenue from its PayPal online payments business and its e-commerce websites. eBay rose $3.73 to $44.19. 

The market wavered in early trading, flipping from gains to losses and back again, after a measure of manufacturing in the mid-Atlantic region came in much weaker than economists had expected. Two other economic reports also released at 10 a.m., homes sales and leading economic indicators, were also weak. 

Big banks and financial firms were mostly lower, following poor earnings reports from American Express and Morgan Stanley. 

 *The NYSE DOW closed  	HIGHER ▲	34.66	points or ▲	0.27%	Thursday, 19 July 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,943.36	▲	34.66	▲	0.27%	
	Nasdaq____	2,965.90	▲	23.29	▲	0.79%	
	S&P_500__	1,376.51	▲	3.73	▲	0.27%	
	30_Yr_Bond	2.614	▲	0.03	▲	1.32%	

NYSE Volume	 4,002,898,250 			 		 	
Nasdaq Volume	 1,736,280,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,714.19	▲	28.42	▲	0.50%	
	DAX_____	6,758.39	▲	73.97	▲	1.11%	
	CAC_40__	3,263.64	▲	28.24	▲	0.87%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,236.40	▲	80.00	▲	1.92%	
	Shanghai_Comp	2,184.84	▲	15.74	▲	0.73%	
	Taiwan_Weight	7,148.57	▲	99.52	▲	1.41%	
	Nikkei_225____	8,795.55	▲	68.81	▲	0.79%	
	Hang_Seng____	19,559.05	▲	53.93	▲	1.66%	
	Strait_Times___	3,028.96	▲	11.75	▲	0.39%	
	NZX 50 Index__	3,485.78	▲	11.72	▲	0.34%	

http://finance.yahoo.com/q/bc?t=1d&s=^DJI&l=on&z=m&q=l&c=^aord&c=^GSPC

*US stocks creep up; IBM, other tech stocks rise

Stocks head higher for third day in a row; IBM, eBay jump after posting better earnings*

By Matthew Craft, AP Business Writer 

 Strong earnings from IBM and other technology companies nudged the stock market higher Thursday, but a trio of weak economic reports kept the gains in check. 

IBM surged 4 percent after it posted a jump in profits late Wednesday even as revenue fell. It marked the 38th consecutive quarter that IBM's net income rose over the previous year. IBM leapt $7.09 to $195.34. 

The Dow Jones industrial average rose 34.66 points to close at 12,943.36 on Thursday, the third straight day of gains. 

"One thing is dominating today and it's tech earnings," said Lawrence Creatura, portfolio manager at the mutual fund manager Federated Investors. "Earnings have been better than a lot of people expected. That could still change, but so far, so good." 

Analysts forecast that earnings at S&P 500 companies shrank 1.5 percent in the April-through-June period versus a year ago, according to researchers at S&P Capital IQ. If that turns out to be true, it will be the worst earnings season since the summer quarter of 2009. 

In other trading, the Standard & Poor's 500 index gained 3.73 points to 1,376.51. The Nasdaq composite index rose 23.30 points to 2,965.90. 

Despite the modest gains, utilities and consumer staples lagged behind the market, usually a sign that investors were willing to take on risk. 

eBay jumped 9 percent after the company reported that its second-quarter net income doubled, thanks to higher revenue from its PayPal online payments business and its e-commerce websites. eBay rose $3.73 to $44.19. 

The market wavered in early trading, flipping from gains to losses and back again, after a measure of manufacturing in the mid-Atlantic region came in much weaker than economists had expected. Two other economic reports also released at 10 a.m., homes sales and leading economic indicators, were also weak. 

Big banks and financial firms were mostly lower, following poor earnings reports from American Express and Morgan Stanley. 

American Express lost 4 percent, the largest drop in the Dow, after its earnings missed Wall Street's expectations. Slower growth in Europe weighed on the credit-card company's results as international revenue fell 4 percent. Amex lost $2.06 to $56.23. 

Morgan Stanley fell 74 cents to $13.25, a drop of 6 percent. The investment bank's income and revenue fell far short of what analysts expected, dragged down by dismal results from trading stocks and bonds. 

The Dow is now up 1.3 percent for the week, and the S&P 500 index 1.5 percent. 

Among other stocks making big moves: 

”” Walgreen Co. soared 12 percent, the largest gain in the S&P 500. The Walgreen pharmacy chain and Express Scripts reached an agreement in which Walgreen will once again fill prescriptions from people in the Express Scripts network. That ended a dispute between the two companies. Walgreen gained $3.65 to $34.62. 

”” Textron jumped 12 percent. The maker of Cessna planes reported that its quarterly earnings nearly doubled. The results trounced Wall Street analysts' estimates, thanks to rising demand for its Citation line of business jets and Bell helicopters. Textron gained $2.74 to $26.50. 

”” Johnson Controls sank 8 percent. Earnings for the maker of auto parts and building equipment fell far short of expectations, partially a result of a weaker euro and sluggish demand from Europe. The company said it expects Europe to remain a problem. Johnson Controls' stock lost $2.25 to $26.07.


----------



## bigdog

Source: http://finance.yahoo.com 

Market takes a U-turn and trades lower; Google can't make investors forget Spain

For the past few days, the U.S. stock market was able to forget about problems in Europe. 

Friday put Europe squarely back in the spotlight. 

U.S. stocks fell sharply as escalating problems in Spain jolted investors. Spain's stock market plunged 6 percent and its borrowing costs spiked after a regional government asked for a financial lifeline. 

The drop on Wall Street, which sent the Dow Jones industrial average down as much as 133 points, marked a U-turn for the market. Stocks had risen over the past three days as investors focused on healthy earnings from U.S. companies like Mattel, Honeywell and Coca-Cola. 

On Friday, talk of sluggishness in Europe was prevalent as more companies turned in their quarterly results. 

Staffing agency Manpower fell 6 percent, to $33.46, and chip maker Advanced Micro Devices fell 13 percent, to $4.22, after reporting that weak demand in Europe had dragged down second-quarter revenue. 

Xerox trimmed its earnings forecasts as Europeans bought less equipment. Ingersoll-Rand, whose products include Trane air conditioners, cut its revenue prediction for the same reason. Xerox fell 49 cents to $6.70, and Ingersoll-Rand lost $1.22 to $40.25. 

Late Thursday, guitar maker Fender abruptly canceled its plans to go public, blaming "current market conditions" and "concerns about economic conditions in Europe." And General Electric, though its stock edged up 7 cents to $19.87, noted Friday that its orders also fell in Europe. 

"We prepared ourselves for a pretty tough year this year, or certainly a volatile year," CEO Jeff Immelt said in a call with analysts. "We haven't been disappointed." GE's finance officer, Keith Sherin, said the company is making "a full-court press" to reduce exposure to Europe. 

All the major U.S. stock indexes fell. The Dow Jones industrial average dropped 120.79 points to 12,822.57. The Standard & Poor's 500 fell 13.85 to 1,362.66. The Nasdaq composite index lost 40.60 to 2,925.30. All three indicators were down about 1 percent. They eked out tiny gains for the week and are about flat for the month to date. 


 *The NYSE DOW closed  	LOWER ▼	-120.79	points or ▼	-0.93%	Friday, 20 July 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,822.57	▼	-120.79	▼	-0.93%	
	Nasdaq____	2,925.30	▼	-40.60	▼	-1.37%	
	S&P_500__	1,362.66	▼	-13.85	▼	-1.01%	
	30_Yr_Bond	2.546	▼	-0.07	▼	-2.60%	

NYSE Volume	 3,768,499,250 			 		 	
Nasdaq Volume	 1,813,219,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,651.77	▼	-62.42	▼	-1.09%	
	DAX_____	6,630.02	▼	-128.37	▼	-1.90%	
	CAC_40__	3,193.89	▼	-69.75	▼	-2.14%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,230.60	▼	-5.80	▼	-0.14%	
	Shanghai_Comp	2,168.64	▼	-16.20	▼	-0.74%	
	Taiwan_Weight	7,164.68	▲	16.11	▲	0.23%	
	Nikkei_225____	8,669.87	▼	-125.68	▼	-1.43%	
	Hang_Seng____	19,640.80	▲	53.93	▲	0.42%	
	Strait_Times___	3,015.53	▼	-13.43	▼	-0.44%	
	NZX 50 Index__	3,463.70	▼	-22.07	▼	-0.63%	

http://finance.yahoo.com/news/haunted-europe-us-market-cant-202803675.html

*Haunted by Europe, US market can't get ahead

Market takes a U-turn and trades lower; Google can't make investors forget Spain*

By Christina Rexrode, AP Business Writer

For the past few days, the U.S. stock market was able to forget about problems in Europe. 

Friday put Europe squarely back in the spotlight. 

U.S. stocks fell sharply as escalating problems in Spain jolted investors. Spain's stock market plunged 6 percent and its borrowing costs spiked after a regional government asked for a financial lifeline. 

The drop on Wall Street, which sent the Dow Jones industrial average down as much as 133 points, marked a U-turn for the market. Stocks had risen over the past three days as investors focused on healthy earnings from U.S. companies like Mattel, Honeywell and Coca-Cola. 

On Friday, talk of sluggishness in Europe was prevalent as more companies turned in their quarterly results. 

Staffing agency Manpower fell 6 percent, to $33.46, and chip maker Advanced Micro Devices fell 13 percent, to $4.22, after reporting that weak demand in Europe had dragged down second-quarter revenue. 

Xerox trimmed its earnings forecasts as Europeans bought less equipment. Ingersoll-Rand, whose products include Trane air conditioners, cut its revenue prediction for the same reason. Xerox fell 49 cents to $6.70, and Ingersoll-Rand lost $1.22 to $40.25. 

Late Thursday, guitar maker Fender abruptly canceled its plans to go public, blaming "current market conditions" and "concerns about economic conditions in Europe." And General Electric, though its stock edged up 7 cents to $19.87, noted Friday that its orders also fell in Europe. 

"We prepared ourselves for a pretty tough year this year, or certainly a volatile year," CEO Jeff Immelt said in a call with analysts. "We haven't been disappointed." GE's finance officer, Keith Sherin, said the company is making "a full-court press" to reduce exposure to Europe. 

Even the Internet powerhouse Google noted that growth in Southern Europe had slowed, particularly in Spain. But Google also reported higher revenue and profit, and its stock rose $17.76, to $610.82. 

All the major U.S. stock indexes fell. The Dow Jones industrial average dropped 120.79 points to 12,822.57. The Standard & Poor's 500 fell 13.85 to 1,362.66. The Nasdaq composite index lost 40.60 to 2,925.30. All three indicators were down about 1 percent. They eked out tiny gains for the week and are about flat for the month to date. 

Despite the generally sour mood in the market, two tech companies soared on their first day of trading. Kayak Software, a travel-booking website, jumped 28 percent, or $7.18, to $33.18. Palo Alto Networks, a technology security company, rose 27 percent, or $11.13, to $53.13. 

The broad downturn was an unwelcome change after three days of gains, the Dow's longest winning streak in more than a month. Until Friday, investors focused on upbeat earnings from U.S. companies. Nearly three-fourths of the companies that have reported second-quarter earnings so far have beat expectations, according to FactSet. 

Jeff Mortimer, director of investment strategy for Bank of New York Mellon's wealth management division, expects Europe's problems to drag on for a long while. 

"There is no quick answer to the issues that they're wrestling with," he said. "They have a sovereign debt issue, they have a banking issue and they have a growth issue. ... I think we'll have one eye over there for years." 

Spain was the epicenter of the latest European earthquake. Protestors took to the streets to voice their disapproval of government spending cuts. The Treasury minister predicted that the recession would drag on into next year. And the region of Valencia said it needed help from the central government to pay its bills. 

Spain did get approval from the other euro countries for a bailout for its struggling banks, but that wasn't enough to calm investors. The Spanish government's borrowing costs shot above 7 percent, the rate at which other countries have been unable to afford to borrow money. Spain's borrowing costs rose to 7.22 percent and its benchmark stock index plunged 6 percent, to 6,246.30. 

To be sure, bad financial news out of Spain is hardly new. Just as troubling, if not more so, were budding signs that the crisis is deepening even among Europe's relatively strong members. Germany announced that its economic growth likely slowed in the second quarter. In the U.K., the government said it had to borrow more than expected in June. 

Among other stocks making big moves, Chipotle plunged 22 percent even though the burrito chain reported big jumps in revenue and profits. Even though revenue climbed 21 percent, analysts had expected more. Chipotle stock lost $86.88 to $316.98. 

The country's six megabanks ”” Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo ”” all fell. Investors are concerned about an array of recent challenges, including Moody's downgrades at all the banks except Wells, and net job cuts over the year at all the banks except JPMorgan.

3467


----------



## bigdog

Source: http://finance.yahoo.com

US stocks trim losses but end down amid fear Spain will need bailout; Dow falls 101

Fear that Spain may need a bailout sent its borrowing costs soaring, the euro to a two-year low against the dollar and stocks around the world tumbling as investors pulled back Monday from all manner of risk. 

The Dow Jones industrial average, after falling 239 points earlier in the day, ended down 101.11 at 12,721.46. Yields for U.S. government bonds sank to record lows as traders sought the safety of American debt. 

Borrowing costs rose sharply for Spain and Italy after news that the Spanish economy contracted by 0.4 percent in the second quarter. Falling economic output makes it more difficult for Spain to deal with its debts. 

The Standard & Poor's 500 index fell 12.14 points to 1,350.52. The Nasdaq composite index dropped 35.15 points to 2,890.15. 

"Increases in Spanish borrowing costs have brought back questions about the health of Europe," said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott in Philadelphia. "That's driven a flight to safety." 

The selling was widespread. All 10 industry groups within the S&P 500 were down, with materials and health care companies off more than 1 percent. Including Friday's drop, the Dow is down 222 points, the biggest back-to-back drop in more than a month. 

In addition to Spain, investors are worried that Greece might get cut off from emergency loans it needs to avoid default. On Tuesday, inspectors from its international creditors arrive in the country to check on its progress in cutting its budget and in meeting other conditions it had agreed to in exchange for aid. 

The Greek government has repeatedly failed to hit targets required for the two bailouts it has received so far. 

Adding to the jitters, a Chinese central bank adviser forecast that China's economic growth could slow from its second-quarter rate of 7.6 percent, which was already the slowest in three years			

 *The NYSE DOW closed  	LOWER ▼	-101.11	points or ▼	-0.79%	Monday, 23 July 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,721.46	▼	-101.11	▼	-0.79%	
	Nasdaq____	2,890.15	▼	-35.15	▼	-1.20%	
	S&P_500__	1,350.52	▼	-12.14	▼	-0.89%	
	30_Yr_Bond	2.515	▼	-0.03	▼	-1.22%	

NYSE Volume	 3,576,762,250 			 		 	
Nasdaq Volume	 1,609,195,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,533.87	▼	-117.90	▼	-2.09%	
	DAX_____	6,419.33	▼	-210.69	▼	-3.18%	
	CAC_40__	3,101.53	▼	-92.36	▼	-2.89%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,159.20	▼	-71.40	▼	-1.69%	
	Shanghai_Comp	2,141.40	▼	-27.24	▼	-1.26%	
	Taiwan_Weight	7,028.73	▼	-135.95	▼	-1.90%	
	Nikkei_225____	8,508.32	▼	-161.55	▼	-1.86%	
	Hang_Seng____	19,053.47	▲	53.93	▼	-2.99%	
	Strait_Times___	2,982.49	▼	-33.04	▼	-1.10%	
	NZX 50 Index__	3,465.36	▲	1.66	▲	0.05%	

http://finance.yahoo.com/news/2nd-triple-digit-loss-dow-201412010.html

*2nd triple-digit loss for Dow in 2 days

US stocks trim losses but end down amid fear Spain will need bailout; Dow falls 101*

By Bernard Condon, AP Business Writer 

Fear that Spain may need a bailout sent its borrowing costs soaring, the euro to a two-year low against the dollar and stocks around the world tumbling as investors pulled back Monday from all manner of risk. 

The Dow Jones industrial average, after falling 239 points earlier in the day, ended down 101.11 at 12,721.46. Yields for U.S. government bonds sank to record lows as traders sought the safety of American debt. 

Borrowing costs rose sharply for Spain and Italy after news that the Spanish economy contracted by 0.4 percent in the second quarter. Falling economic output makes it more difficult for Spain to deal with its debts. 

The Standard & Poor's 500 index fell 12.14 points to 1,350.52. The Nasdaq composite index dropped 35.15 points to 2,890.15. 

"Increases in Spanish borrowing costs have brought back questions about the health of Europe," said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott in Philadelphia. "That's driven a flight to safety." 

The selling was widespread. All 10 industry groups within the S&P 500 were down, with materials and health care companies off more than 1 percent. Including Friday's drop, the Dow is down 222 points, the biggest back-to-back drop in more than a month. 

In addition to Spain, investors are worried that Greece might get cut off from emergency loans it needs to avoid default. On Tuesday, inspectors from its international creditors arrive in the country to check on its progress in cutting its budget and in meeting other conditions it had agreed to in exchange for aid. 

The Greek government has repeatedly failed to hit targets required for the two bailouts it has received so far. 

Adding to the jitters, a Chinese central bank adviser forecast that China's economic growth could slow from its second-quarter rate of 7.6 percent, which was already the slowest in three years. 

Investors had hoped that the world's second-largest economy would compensate for slowdowns in the U.S. and Europe but now aren't so sure. 

"I wish it were still the weekend," said Lawrence Creatura, a portfolio manager at Federated Investors, a mutual fund firm. "People were initially worried just about the Europe, but now it's spread to China and beyond." 

In Spain, the yield on the benchmark 10-year government bond rose to 7.43 percent, the highest since the euro was launched in 1999 and a level considered unsustainable for more than a few months. The fear was registered in other trading, too. The cost for investors to take out insurance on Spanish government debt soared to a record high Monday. 

The message: After Spanish banks had to seek money from international creditors to stay afloat, now maybe the Spanish government needs help. 

The prospect of bailing out Madrid is worrisome for Europe because the potential cost far exceeds what's available in existing emergency funds. 

The fear ratcheted up over the weekend when a southern region of Spain announced that it might need a financial lifeline from Madrid to make ends meet. That followed news last week that an eastern region of the country had asked for help. 

In a move that recalled the global financial crisis four years ago, Spain's market regulator on Monday said it was temporarily banning short selling of shares on its stock indexes. In a short sale, an investor seeks a profit by betting that the price of a certain stock will fall. 

The U.S. briefly banned short selling of dozens of stocks in 2008 as prices were tumbling. 

Strong selling rattled European markets. The main stock index dropped more than 7 percent in Greece, 1 percent in Spain, 3 percent in Germany and France. Asian stocks were also sharply lower. 

Bank stocks, which tend to take a hit when fear flares in Europe, were among the biggest losers. Citigroup stock dropped 53 cents, or 2 percent, to $25.34. 

The price of oil fell $3.69, or 4 percent, to finish the day at $88.14 per barrel in New York. Exxon Mobil stock declined 74 cents, or nearly 1 percent, to $85.21. 

The euro slipped just below $1.21 against the dollar, its lowest since June 2010. 

There were also signs that a global economic slowdown is hitting U.S. companies that rode out the anemic recovery well by selling more abroad. Now, they can't grow those sales as fast as before, and what they do sell has fallen in value as foreign currencies have weakened against the dollar. That's because U.S. companies must translate foreign currency earnings into dollars when reporting to investors, and weaker foreign currencies fetch fewer dollars. 

While global sales at McDonald's restaurants open at least a year rose 3.7 percent, for instance, profits slid by about the same rate due to currency exchange. McDonald's generates about two-thirds of its revenue outside the U.S. 

"A disproportionately large amount of revenue overseas is seen as a negative today," said Creatura of Federated Investors. "The list of weakening overseas markets is getting longer by the day." 

Stock in the world's largest hamburger chain slid $2.64, or 2.9 percent, to $88.94 after the company fell short of most Wall Street expectations for both net income and revenue. 

Hasbro is also getting hurt by currency trading. If not for the surge in the dollar, its international revenue in the second quarter would have risen 5 percent, instead of falling 4 percent, the toy maker said Monday. Still, the company beat analyst estimates of net income, thanks partly to cost cutting. 

Stock in Hasbro, whose products include Monopoly and Scrabble, rose $1.35, or 4 percent, to $35.19. 

In other stock news: 

”” RailAmerica Inc., a short-line railroad operator, rose $2.44, or nearly 10 percent, to $27.25 after announcing it planned to sell itself another short-line operator, Genesee & Wyoming, for $1.39 billion in cash. 

”” Halliburton, an oil and natural gas services firm, rose 2.4 percent after reporting flat earnings for the second quarter. The company has benefited lately from selling oil drilling around the world. 

”” Peet's Coffee and Tea surged 28 percent to $73.05 after announcing a sale to Joh A. Benckiser, a privately-held consumer goods company in Germany.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks slide again on Wall Street as companies report weak earnings; Europe still looms large		

A parade of grim news, from weak corporate earnings to a pullback at U.S. factories to spreading fault lines in Europe's debt crisis, sent investors fleeing stocks for a third straight day on Tuesday. 

The Dow Jones industrial average fell 104.14 points, or 0.8 percent, to 12,617.32. It was the third triple-digit point loss in row for the blue chip index. The last time that happened was September, when fears were rife that the U.S. was on the brink of another recession. 

Lower earnings forecasts from corporate bellwethers like United Parcel Service combined with the weak report on manufacturing fed fears of more disappointing results from Corporate America in the coming days. 

"Our guess is we haven't seen the worst," said Carl Yingst, chief market analyst at Joseph Gunner, an investment bank. 

Investors around the world dumped stocks and fled to the relative safety of U.S. government debt. The yield on the benchmark 10-year Treasury note fell to another record low and the dollar hit a two-year high against the euro. 

Stocks fell from the start of trading following news that UPS had cut its earnings forecast 4 percent for all of 2012. The package delivery company said it expects global trade to slow even more than the global economy this year, a first since the financial crisis. UPS's stock fell $3.61, or 5 percent, to $74.34. 

Also weighing on stocks, Spain's borrowing costs spiked as investors worried that country could become the latest in Europea to ask for a financial lifeline. Spain's banks have already received help from international lenders. 

The broader Standard & Poor's 500 fell 12.21 points to 1,338.31. The Nasdaq composite was off 27.16 points to 2,862.99. 

 *The NYSE DOW closed  	LOWER ▼	-104.14	points or ▼	-0.82%	Tuesday, 24 July 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,617.32	▼	-104.14	▼	-0.82%	
	Nasdaq____	2,862.99	▼	-27.16	▼	-0.94%	
	S&P_500__	1,338.31	▼	-12.21	▼	-0.90%	
	30_Yr_Bond	2.470	▼	-0.05	▼	-1.83%	

NYSE Volume	 3,853,090,250 			 		 	
Nasdaq Volume	 1,757,931,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,499.23	▼	-34.64	▼	-0.63%	
	DAX_____	6,390.41	▼	-28.92	▼	-0.45%	
	CAC_40__	3,074.68	▼	-26.85	▼	-0.87%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,159.20	▼	-71.40	▼	-1.69%	
	Shanghai_Comp	2,141.40	▼	-27.24	▼	-1.26%	
	Taiwan_Weight	7,028.73	▼	-135.95	▼	-1.90%	
	Nikkei_225____	8,488.09	▼	-20.23	▼	-0.24%	
	Hang_Seng____	18,903.20	▲	53.93	▼	-0.79%	
	Strait_Times___	2,998.44	▲	15.95	▲	0.53%	
	NZX 50 Index__	3,460.70	▼	-4.66	▼	-0.13%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks drop for a 3rd day as earnings slide

Stocks slide again on Wall Street as companies report weak earnings; Europe still looms large*

By Bernard Condon, AP Business Writer 

A parade of grim news, from weak corporate earnings to a pullback at U.S. factories to spreading fault lines in Europe's debt crisis, sent investors fleeing stocks for a third straight day on Tuesday. 

The Dow Jones industrial average fell 104.14 points, or 0.8 percent, to 12,617.32. It was the third triple-digit point loss in row for the blue chip index. The last time that happened was September, when fears were rife that the U.S. was on the brink of another recession. 

Lower earnings forecasts from corporate bellwethers like United Parcel Service combined with the weak report on manufacturing fed fears of more disappointing results from Corporate America in the coming days. 

"Our guess is we haven't seen the worst," said Carl Yingst, chief market analyst at Joseph Gunner, an investment bank. 

Investors around the world dumped stocks and fled to the relative safety of U.S. government debt. The yield on the benchmark 10-year Treasury note fell to another record low and the dollar hit a two-year high against the euro. 

Stocks fell from the start of trading following news that UPS had cut its earnings forecast 4 percent for all of 2012. The package delivery company said it expects global trade to slow even more than the global economy this year, a first since the financial crisis. UPS's stock fell $3.61, or 5 percent, to $74.34. 

Also weighing on stocks, Spain's borrowing costs spiked as investors worried that country could become the latest in Europea to ask for a financial lifeline. Spain's banks have already received help from international lenders. 

The broader Standard & Poor's 500 fell 12.21 points to 1,338.31. The Nasdaq composite was off 27.16 points to 2,862.99. 

Early in the day, DuPont reported that its net income fell 3 percent for the second quarter on slower business in Europe and Asia. The huge chemical maker also reported revenue that fell short of Wall Street's expectations. DuPont's stock lost 97 cents, or 2 percent, to $47.74. 

Adding to the jitters was a report from Federal Reserve Bank of Richmond indicated that manufacturing in the central-Atlantic region is contracting. That followed reports of pullbacks in New York and Philadelphia. 

After the market closed, investors got a rare dose of disappointing news from Apple. The consumer electronics giant reported earnings that badly missed analysts' expectations, sending the stock 5 percent lower in after-hours trading. Sales of iPhones came in at the low end of Wall Street's forecasts. The stock fell $29.76 to $571.19. 

In Europe, the yield on the 10-year Spanish government bond rose 0.10 percentage point to 7.53 percent, a dangerously high level. Investors also sold Italian government bonds, sending the yield on that country's 10-year bond up 0.32 percentage points to 6.54 percent. 

Late Monday, Moody's Investors Service issued a warning about the credit rating for Germany. Moody's anticipates that strong countries like Germany will have to shoulder a heavy financial burden as they support weaker countries like Spain and Italy. The debts of those countries are considered far too big for current bailout funds to handle. 

In cutting its outlook on Germany, Moody's also said there was an "increased likelihood" that Greece would leave Europe's monetary union. 

"Things are only going to get worse," said Adrian Day, president of Adrian Day Investment Management. He added that he's not buying stocks, save for gold-related companies, because he expects them head lower as the European crisis deepens. 

As they dump stocks, investors have been piling into U.S. government bonds. On Tuesday, the yield on the 10-year Treasury note fell to 1.40 percent, matching the record low it reached Monday. 

Investors have also been selling the euro. The euro fell to $1.20 on Tuesday, a two-year low against the dollar. 

In corporate news, AT&T and Whirlpool both fell short of analyst estimates of earnings and revenue. AT&T fell 75 cents, or 2 percent, to $34.63. Whirlpool, the world's biggest appliance maker, dropped $5.06, or 7.5 percent, to $62.25. 

So far this earnings season, nearly seven of ten companies that have reported earnings have beaten estimates, slightly higher than is usual, according to S&P Capital IQ, a research firm. But analysts had been lowering those expectations for months, and so the feat of surpassing them isn't so impressive. Meanwhile, several companies have reported revenues below expectations as the global economy slows, and that is spooking investors. 

Some other companies in the news: 

”” Cisco Systems fell the most of the 30 stocks in the Dow, or 6 percent, after the network equipment maker announced its latest round of staff cuts. Cisco dropped 95 cents to $15.12. 

”” DeVry plunged $6.76, or 25 percent, to $20.80, the biggest drop in the S&P 500 index. The for-profit education company said enrollment is falling, forcing it to cut 570 jobs. The company also projected that its profit for the latest quarter will come in well short of analyst estimates.


----------



## bigdog

Source: http://finance.yahoo.com 

S&P 500 slips on disappointing corporate earnings, weak home sales; Dow ekes out a gain

Whipsawed by strong earnings from some companies, weak ones from others, including the once infallible Apple, investors couldn't make up their mind whether to buy or sell on Wednesday. In the end, they mostly sold, but barely. 

The Standard & Poor's 500 slipped 0.42 points, or 0.03 percent, to end 1,337.89. The tiny loss extended the broad index's losses to a fourth straight day. A big reason was Apple, which dropped $22.12 to $578.80, a loss of 4 percent. A sharp drop in new home sales also fed the selling. 

The Dow Jones industrial average rose 58.73 points, or 0.5 percent, to 12,676.05. That snapped a three-day, triple-digit losing streak for the index. 

Helping the Dow were big gains from two of its components, Boeing and Caterpillar. The duo contributed 24 points to the index, or nearly half of its gain. 

Boeing rose $2, nearly 3 percent, to $74.03 after reporting surprisingly strong earnings. The aircraft maker also raised its profit forecast for all of 2012. 

Caterpillar, which makes mining and construction equipment, rose $1.17, or 1.4 percent, to $82.60. The company blew away analysts' estimates with a 67 percent surge in profits for the second quarter. Caterpillar credited strong sales of mining equipment overseas and a strengthening housing market. 

Shortly after Caterpillar announced its results, the optimism about housing took a hit. The Commerce Department said sales of new homes plunged 8 percent last month, the steepest drop since February last year. Sales in the Northeastern U.S. plummeted 60 percent. The decline suggests a weaker job market is dampening any pickup in the industry. 

 *The NYSE DOW closed  	HIGHER ▲	58.73	points or ▲	0.47%	Wednesday, 25 July 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,676.05	▲	58.73	▲	0.47%	
	Nasdaq____	2,854.24	▼	-8.75	▼	-0.31%	
	S&P_500__	1,337.89	▼	-0.42	▼	-0.03%	
	30_Yr_Bond	2.467	▼	0.00	▼	-0.08%	

NYSE Volume	 3,725,382,750 			 		 	
Nasdaq Volume	 1,793,658,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,498.32	▼	-0.91	▼	-0.02%	
	DAX_____	6,406.52	▲	16.11	▲	0.25%	
	CAC_40__	3,081.74	▲	7.06	▲	0.23%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,151.40	▼	-9.80	▼	-0.24%	
	Shanghai_Comp	2,136.15	▼	-10.44	▼	-0.49%	
	Taiwan_Weight	6,979.13	▼	-29.22	▼	-0.42%	
	Nikkei_225____	8,488.09	▼	-20.23	▼	-0.24%	
	Hang_Seng____	18,903.20	▲	53.93	▼	-0.79%	
	Strait_Times___	2,998.44	▲	15.95	▲	0.53%	
	NZX 50 Index__	3,458.98	▼	-1.73	▼	-0.05%	

http://finance.yahoo.com/news/p-500-slips-weak-earnings-201844336.html

*S&P 500 slips on weak earnings; Dow gains

S&P 500 slips on disappointing corporate earnings, weak home sales; Dow ekes out a gain*

By Bernard Condon,

 Whipsawed by strong earnings from some companies, weak ones from others, including the once infallible Apple, investors couldn't make up their mind whether to buy or sell on Wednesday. In the end, they mostly sold, but barely. 

The Standard & Poor's 500 slipped 0.42 points, or 0.03 percent, to end 1,337.89. The tiny loss extended the broad index's losses to a fourth straight day. A big reason was Apple, which dropped $22.12 to $578.80, a loss of 4 percent. A sharp drop in new home sales also fed the selling. 

The Dow Jones industrial average rose 58.73 points, or 0.5 percent, to 12,676.05. That snapped a three-day, triple-digit losing streak for the index. 

Helping the Dow were big gains from two of its components, Boeing and Caterpillar. The duo contributed 24 points to the index, or nearly half of its gain. 

Boeing rose $2, nearly 3 percent, to $74.03 after reporting surprisingly strong earnings. The aircraft maker also raised its profit forecast for all of 2012. 

Caterpillar, which makes mining and construction equipment, rose $1.17, or 1.4 percent, to $82.60. The company blew away analysts' estimates with a 67 percent surge in profits for the second quarter. Caterpillar credited strong sales of mining equipment overseas and a strengthening housing market. 

Shortly after Caterpillar announced its results, the optimism about housing took a hit. The Commerce Department said sales of new homes plunged 8 percent last month, the steepest drop since February last year. Sales in the Northeastern U.S. plummeted 60 percent. The decline suggests a weaker job market is dampening any pickup in the industry. 

"Housing is not really recovering, it's bottoming," said Steven Ricchiuto, chief economist at Mizuho Securities, a brokerage firm. "That's still a problem with the economy." 

Home builders were hit hard. Beazer Homes fell 13 cents, or 5 percent, to $2.35. KB Home lost 32 cents, or 3 percent, to $9.31. 

The biggest loser in the S&P was Netflix, the video subscription company. It fell $20.11 to $60.28, a loss of 25 percent. The company reported late Tuesday that its net income plunged 91 percent in the latest quarter. Investors are worried about rising licensing fees and slowing subscriber growth. 

Stocks were pushed higher at the opening by the gains in Caterpillar and Boeing. But the disappointing home sales news soon cut into the gains, and trading remained choppy throughout the day. 

Apple didn't help. Late Tuesday, the company reported net income rose 21 percent in the second quarter instead of the 33 percent that analysts were expecting. The company said consumers appear to be holding off on buying iPhones before a new model comes out, even though it isn't expected until October. 

Apple makes up 12.7 percent of the Nasdaq composite, making it by far the biggest component of the technology-focused index. The Nasdaq lagged the broader market, giving up 0.3 percent, or 8.75 points, to close at 2,854.24. 

The bad news from tech stocks didn't end there. After the closing bell, Zynga, the maker of online video games like "Farmville," slashed its forecast for full-year earnings, blaming delays in launching new games, dwindling revenue from existing web games and a "more challenging environment" on the Facebook platform. The stock plunged $2.04, or 40 percent, to $3.05 in after-hours trading. 

In other corporate news, computer security provider Symantec soared $1.79 to $14.96. The company announced the departure of its CEO, Enrique Salem, and reported earnings per share and revenue came in well ahead of Wall Street's estimates. 

WellPoint, the nation's second largest insurer, lowered its earnings forecast. Its stock fell $7.41, or 12 percent, $54.01, the biggest one-day drop for the stock in more than three years. The insurer said enrollment has been slipping as companies cut jobs. 

Corning said its second-quarter profit sank 39 percent on lower sales volumes and prices of its liquid-crystal-display glass products. Its stock fell 93 cents to $11.14, or 8 percent. 

Stock in RadioShack plunged $1.05, or 29 percent, to $2.60, an all-time low for the electronics retailer. The company reported an unexpected loss for its second quarter and suspended its dividend. 

In Europe, stock indexes mostly higher. A European Central Bank policymaker said the region's bailout fund should be given the power to borrow money from the central bank, increasing its financial resources. That would be necessary if Spain asked for a bailout. 

The yield on the Spain's 10-year government bond fell to 7.37 percent from 7.53 percent late Tuesday. That's a positive sign that investors are slightly less worried about Spain's ability to repay its debts.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks soar after ECB vows to protect the euro

European Central Bank vows to protect the euro, sending stocks sharply higher in Europe and US

It was the buy signal that markets were waiting for. 

When European Central Bank president Mario Draghi vowed to "do whatever it takes" to keep the continent's monetary union intact, stocks were off to races in the U.S. and Europe. 

The Dow Jones industrial average on Thursday jumped 212 points, or 1.7 percent, to 12,888 following big gains in European markets. Benchmark stock indexes in Spain and Italy surged 6 percent and 4 percent in France. 

Draghi's comments at an investor conference at the Olympics raised hopes that Europe's central bank might intervene to bring down the cripplingly high borrowing costs for struggling European countries like Spain and Italy. 

After insisting for months that it was up to European governments to restore confidence in the currency shared by 17 nations there, Draghi pledged that "the ECB is ready to do whatever it takes to preserve the euro." 

That commitment gave a big boost to global markets. "The No. 1 problem in the world now is Europe's finances," John Fox, director of research at Fenimore Asset Management, said. "When the head of the ECB comes out and says he's willing to do anything, that's code for 'We are going to agree to resolve this issue.' " 

In other signs that investors were becoming more confident that Europe's financial crisis would not spin out of control, borrowing costs for Spain and Italy fell sharply, the euro surged a penny to $1.23 against the dollar and the yield on the 10-year Treasury note rose to 1.43 percent from 1.40 percent late Wednesday. Investors tend to sell low-risk assets like Treasurys when they're less fearful about global markets and the economy. 

As earnings reports this week from Caterpillar and Ford have shown, Europe's troubles can have a big impact on the results of major U.S. corporations.						

 *The NYSE DOW closed  	HIGHER ▲	211.88	points or ▲	1.67%	Thursday, 26 July 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,887.93	▲	211.88	▲	1.67%	
	Nasdaq____	2,893.25	▲	39.01	▲	1.37%	
	S&P_500__	1,360.02	▲	22.13	▲	1.65%	
	30_Yr_Bond	2.490	▲	0.02	▲	0.93%	

NYSE Volume	 4,426,480,000 			 		 	
Nasdaq Volume	 1,963,639,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,573.16	▲	74.84	▲	1.36%	
	DAX_____	6,582.96	▲	176.44	▲	2.75%	
	CAC_40__	3,207.12	▲	125.38	▲	4.07%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,173.80	▲	22.40	▲	0.54%	
	Shanghai_Comp	2,126.00	▼	-10.15	▼	-0.47%	
	Taiwan_Weight	6,970.69	▼	-8.44	▼	-0.12%	
	Nikkei_225____	8,443.10	▲	77.20	▲	0.92%	
	Hang_Seng____	18,892.79	▲	53.93	▲	0.08%	
	Strait_Times___	3,004.57	▲	13.65	▲	0.46%	
	NZX 50 Index__	3,485.74	▲	26.77	▲	0.77%	

http://finance.yahoo.com/news/stocks-soar-ecb-vows-protect-134423178.html

*Stocks soar after ECB vows to protect the euro

European Central Bank vows to protect the euro, sending stocks sharply higher in Europe and US*

By Pallavi Gogoi

 It was the buy signal that markets were waiting for. 

When European Central Bank president Mario Draghi vowed to "do whatever it takes" to keep the continent's monetary union intact, stocks were off to races in the U.S. and Europe. 

The Dow Jones industrial average on Thursday jumped 212 points, or 1.7 percent, to 12,888 following big gains in European markets. Benchmark stock indexes in Spain and Italy surged 6 percent and 4 percent in France. 

Draghi's comments at an investor conference at the Olympics raised hopes that Europe's central bank might intervene to bring down the cripplingly high borrowing costs for struggling European countries like Spain and Italy. 

After insisting for months that it was up to European governments to restore confidence in the currency shared by 17 nations there, Draghi pledged that "the ECB is ready to do whatever it takes to preserve the euro." 

That commitment gave a big boost to global markets. "The No. 1 problem in the world now is Europe's finances," John Fox, director of research at Fenimore Asset Management, said. "When the head of the ECB comes out and says he's willing to do anything, that's code for 'We are going to agree to resolve this issue.' " 

In other signs that investors were becoming more confident that Europe's financial crisis would not spin out of control, borrowing costs for Spain and Italy fell sharply, the euro surged a penny to $1.23 against the dollar and the yield on the 10-year Treasury note rose to 1.43 percent from 1.40 percent late Wednesday. Investors tend to sell low-risk assets like Treasurys when they're less fearful about global markets and the economy. 

As earnings reports this week from Caterpillar and Ford have shown, Europe's troubles can have a big impact on the results of major U.S. corporations. 

"Close to 20 percent of the S&P 500 companies' revenues comes from Europe," said Lawrence Creatura, portfolio manager at Federated Investors. "We're in a global, interconnected economy and Europe's troubles are our own today." 

The broader the Standard & Poor's 500 index rose for the first time in five days. It was up 22.13 points, or 1.7 percent, to 1,360.02 The gains in the U.S. stock market were broad. All 10 of the industry groups in the S&P 500 index rose, led by telecommunications companies. 

In other trading, and the Nasdaq composite index rose 39.01 points, or 1.4 percent, to 2,893.25, despite more disappointing news from technology companies including the online game maker Zynga. 

Several U.S. companies were also rising sharply after reporting stronger earnings. Sprint Nextel jumped 68 cents, or 20 percent, to $4.05. The country's third-largest wireless carrier was successful in convincing smartphone subscribers to pay up for "unlimited data" service, and its service revenue zoomed higher, beating analysts' estimates. 

In Europe, Draghi's comments came after days of uncertainty in Europe and rising concern over Spain's recession and the country's banks, which are reeling following the implosion of a real estate bubble. As borrowing costs for both Spain and Italy rose in the past week, investors feared that both countries might need to be rescued, like Greece, Portugal and Ireland had been in the last two years. 

Borrowing costs for Spain's government plunged following Draghi's comments as investors anticipated that the European Central Bank might step up its purchases of Spanish government bonds. 

The yield on Spain's benchmark 10-year bond dropped almost half a percentage point, a huge move, to 6.89 percent. That rate surged as high as 7.54 percent this week as investors dumped the country's bonds and lost confidence in Spain's ability to manage its debts. 

Technology companies continued to report disappointing earnings following industry leader Apple's rare earnings disappointment earlier this week. 

Zynga, which produces popular social network games "CityVille" and "FarmVille" posted poor quarterly results and cut its outlook, prompting a number of analyst downgrades. Its stock fell $1.90, or 37.5 percent, to $3.17. 

Zynga's disastrous results were also a bad omen for Facebook, which got about 12 percent of its 2011 revenue from Zynga. Facebook plunged 10 percent in after-hours trading after the company reported a loss of $157 million for its second quarter. The stock was down $2.63 at $24.19. 

Among other stocks making big moves: 

”” PulteGroup jumped $1.84, or 18 percent, to $11.86 after the homebuilder posted a quarterly profit, beating Wall Street's forecasts thanks to higher house prices and sales. 

”” United Continental slumped $1.21, or 6 percent, $19.20 after the combined airline's second-quarter net income dropped 37 percent as it continued to wrestle with merger-related issues. 

”” Whole Foods Market jumped $9.57, or 11 percent, to $94.10 after the natural and organic foods store chain lifted its profit outlook for the year. Its net income jumped 32 percent in the latest quarter as shoppers spent more.


----------



## bigdog

Source: http://finance.yahoo.com 

Dow blows past 13,000 on hope for action in Europe

Stocks rise sharply on Wall Street as hopes grow for action on Europe crisis; Dow above 13,000

Faced with Facebook, Starbucks and Angela Merkel, the market chose to focus on Merkel. 

For a second day, the U.S. stock market powered higher after European leaders, including German chancellor Merkel, pledged to protect the union of 17 countries that use the euro. The Dow Jones industrial average blew past 13,000, a key psychological marker that it hadn't hit since early May. 

It wasn't that there weren't any troubling signs about the economy. In fact, they abounded: U.S. economic growth was anemic in the second quarter. A measure of consumer sentiment fell in July as people worried about their job prospects. And Facebook and Starbucks dropped sharply after reporting disappointing quarterly results. 

But on this day, investors homed in on a couple of remarks coming from Europe. 

Most notably, Merkel and French president Francois Hollande released a joint statement saying they were "determined to do everything to protect the eurozone." That followed a similar pledge the day before from Mario Draghi, the president of the European Central Bank. 

Merkel's statement was closely watched because Germany will have to sign on if any plan to keep the euro countries together is to succeed. As one of the stronger countries, Germany usually foots the bill for bailing out the weaker ones. 

For all the rejoicing, a longstanding roadblock remains: Strong countries like Germany want other European nations to agree to cut spending. Weaker countries like Greece are resisting. The statement from Merkel and Hollande made clear that individual countries aren't off the hook, but "must comply with their obligations" ”” meaning a showdown over spending cuts is still possible. 

But the markets liked what they heard Friday. The Dow obliterated the 13,000 mark, climbing 187.73 points to 13,075.66. In two days, it's climbed 400 points. 

The Standard & Poor's 500 jumped 25.95 to 1,385.97. The Nasdaq composite index rose 64.84 to 2,958.09. 

 *The NYSE DOW closed  	HIGHER ▲	187.73	points or ▲	1.46%	Friday, 27 July 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,075.66	▲	187.73	▲	1.46%	
	Nasdaq____	2,958.09	▲	64.84	▲	2.24%	
	S&P_500__	1,385.97	▲	25.95	▲	1.91%	
	30_Yr_Bond	2.640	▲	0.15	▲	6.10%	

NYSE Volume	 4,290,234,500 			 		 	
Nasdaq Volume	 2,085,561,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,627.21	▲	54.05	▲	0.97%	
	DAX_____	6,689.40	▲	106.44	▲	1.62%	
	CAC_40__	3,280.19	▲	73.07	▲	2.28%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,234.40	▲	60.60	▲	1.45%	
	Shanghai_Comp	2,128.76	▲	2.76	▲	0.13%	
	Taiwan_Weight	7,124.49	▲	153.80	▲	2.21%	
	Nikkei_225____	8,566.64	▲	123.54	▲	1.46%	
	Hang_Seng____	19,274.96	▲	53.93	▲	2.02%	
	Strait_Times___	2,998.49	▼	-6.08	▼	-0.20%	
	NZX 50 Index__	3,501.29	▲	15.55	▲	0.45%	

http://finance.yahoo.com/news/dow-blows-past-13-000-201546638.html

*Dow blows past 13,000 on hope for action in Europe

Stocks rise sharply on Wall Street as hopes grow for action on Europe crisis; Dow above 13,000*

By Christina Rexrode,

Faced with Facebook, Starbucks and Angela Merkel, the market chose to focus on Merkel. 

For a second day, the U.S. stock market powered higher after European leaders, including German chancellor Merkel, pledged to protect the union of 17 countries that use the euro. The Dow Jones industrial average blew past 13,000, a key psychological marker that it hadn't hit since early May. 

It wasn't that there weren't any troubling signs about the economy. In fact, they abounded: U.S. economic growth was anemic in the second quarter. A measure of consumer sentiment fell in July as people worried about their job prospects. And Facebook and Starbucks dropped sharply after reporting disappointing quarterly results. 

But on this day, investors homed in on a couple of remarks coming from Europe. 

Most notably, Merkel and French president Francois Hollande released a joint statement saying they were "determined to do everything to protect the eurozone." That followed a similar pledge the day before from Mario Draghi, the president of the European Central Bank. 

Merkel's statement was closely watched because Germany will have to sign on if any plan to keep the euro countries together is to succeed. As one of the stronger countries, Germany usually foots the bill for bailing out the weaker ones. 

For all the rejoicing, a longstanding roadblock remains: Strong countries like Germany want other European nations to agree to cut spending. Weaker countries like Greece are resisting. The statement from Merkel and Hollande made clear that individual countries aren't off the hook, but "must comply with their obligations" ”” meaning a showdown over spending cuts is still possible. 

"Talk is cheap," said Michael Strauss, chief investment strategist and chief economist at the Commonfund investment firm in Connecticut. "While there's some euphoria over this, at the end of the day, is Spain going to still be in a recession? Yes. Is Greece still going to be in a recession? Yes. So I wouldn't get too carried away." 

Others said they were heartened that Europe appeared to be fleshing out more of the details of its plans. Leaders recently agreed that Europe's bailout fund could give money directly to banks, rather than slowing down the process by going through a country's government. Investors also hope that Draghi's remarks mean that Europe's powerful central bank will buy the bonds of distressed countries like Spain and Italy, lowering their borrowing costs. 

"In our estimate, this is the first real step in the right direction that Europe has taken in terms of concrete plans," said Mitch Schlesinger, chief investment officer of FBB Capital Partners in Maryland. "Everything to date has been very politically motivated and kicking the can down the road. These are things that actually make a difference." 

Jim Millstein, CEO of the Washington, D.C., financial advisory firm Millstein & Co., said investors shouldn't be surprised if any rescue plan takes a long time. The eurozone countries currently function with no real unity on their fiscal policies, even though they use the same currency. 

"They are engaged in a very difficult project, which is to transform a monetary union into a fiscal union, and that is a cumbersome process," Millstein said. "It takes longer than the markets might otherwise like." 

But the markets liked what they heard Friday. The Dow obliterated the 13,000 mark, climbing 187.73 points to 13,075.66. In two days, it's climbed 400 points. 

The Standard & Poor's 500 jumped 25.95 to 1,385.97. The Nasdaq composite index rose 64.84 to 2,958.09. 

Bond trading was also a study in optimism. The yield on the benchmark 10-year Treasury note jumped to 1.54 percent from 1.44 percent the day before. That means investors are feeling more confident about the economy and more willing to put their money in the stock market instead of low-risk government bonds. 

In other positive signs, the euro rose against the dollar, stock indexes moved higher in Europe ”” including a 4 percent leap in Spain's benchmark index ”” and borrowing costs fell for Italy and Spain. 

But there were plenty of red flags for anyone looking for them. The government reported that the U.S. economy grew at an annual rate of just 1.5 percent in the second quarter, a paltry number that likely isn't enough to bring down the unemployment rate. The government also said consumers pulled back on their spending. The Thomson Reuters/University of Michigan index of consumer sentiment fell in July as people worried about job prospects. 

Among other stocks making big moves: 

”” Expedia, the online travel company, jumped 20 percent after blowing past analysts' earnings estimates. A jump in hotel bookings offset a decline in airline ticket revenue. The stock surged $9.19 to $54.90. 

”” Starbucks fell 9 percent, losing $4.94 to $47.47. Investors were disappointed that the company cut its outlook for the current quarter, and is considering closing unprofitable stores in Europe. 

”” Facebook fell 12 percent, giving up $3.14 to $23.70. Investors were disappointed that the company, in its first quarterly report since going public, reported a slowdown in revenue growth. It has now lost nearly 38 percent of its value since its initial pricing at $38.

4233


----------



## bigdog

Source: http://finance.yahoo.com 

Indexes close slightly lower, ending a two-day rally on Wall Street; Shaw group soars

A two-day rally that sent stocks soaring last week fizzled out Monday. 

European leaders vowed Thursday and Friday to keep the continent's monetary union intact, and investors sent stock markets shooting higher. But stocks were little changed Monday as investors waited to see if they would back up their words with action. 

The Dow Jones industrial average sank 2.65 points to close at 13,073.01. JPMorgan Chase led the Dow lower, falling 2 percent to $36.14. 

U.S. Treasury Secretary Timothy Geithner met separately with Germany's finance minister and the head of the European Central Bank, Mario Draghi, on Monday. Draghi's pledge to do whatever was needed to protect the euro set off a market rally last week. The Dow rose back above 13,000 for the first time since May and is now up 1.5 percent for the month. 

Hopes are high that Draghi will announce plans to support the euro when the central bank meets Thursday, said David Brown, the CEO and chief market strategist at the research firm Sabrient. 

"I think that's the big story this week," Brown said. "The market has really responded to his bold statement. I hope the ECB takes action. If they don't do anything, it's not going to be pretty." 

Investors are also looking toward the Federal Reserve's meeting this week. Many in the financial markets believe the Fed will take new steps to stimulate the economy in coming months. The Fed will release its statement on interest rate policy Wednesday afternoon. 

 *The NYSE DOW closed  	LOWER ▼	-2.65	points or ▼	-0.02%	Monday, 30 July 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,073.01	▼	-2.65	▼	-0.02%	
	Nasdaq____	2,945.84	▼	-12.25	▼	-0.41%	
	S&P_500__	1,385.30	▼	-0.67	▼	-0.05%	
	30_Yr_Bond	2.579	▼	-0.06	▼	-2.38%	

NYSE Volume	 3,217,994,500 			 		 	
Nasdaq Volume	 1,488,308,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,693.63	▲	66.42	▲	1.18%	
	DAX_____	6,774.06	▲	84.66	▲	1.27%	
	CAC_40__	3,320.71	▲	40.52	▲	1.24%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,266.90	▲	32.50	▲	0.77%	
	Shanghai_Comp	2,109.91	▼	-18.85	▼	-0.89%	
	Taiwan_Weight	7,158.88	▲	34.39	▲	0.48%	
	Nikkei_225____	8,635.44	▲	68.80	▲	0.80%	
	Hang_Seng____	19,585.40	▲	53.93	▲	1.61%	
	Strait_Times___	3,029.26	▲	30.77	▲	1.03%	
	NZX 50 Index__	3,518.89	▲	17.60	▲	0.50%	

http://finance.yahoo.com/news/stock-indexes-drift-lower-ending-201648916.html

*Stock indexes drift lower, ending a two-day rally

Indexes close slightly lower, ending a two-day rally on Wall Street; Shaw group soars*

By Matthew Craft

A two-day rally that sent stocks soaring last week fizzled out Monday. 

European leaders vowed Thursday and Friday to keep the continent's monetary union intact, and investors sent stock markets shooting higher. But stocks were little changed Monday as investors waited to see if they would back up their words with action. 

The Dow Jones industrial average sank 2.65 points to close at 13,073.01. JPMorgan Chase led the Dow lower, falling 2 percent to $36.14. 

U.S. Treasury Secretary Timothy Geithner met separately with Germany's finance minister and the head of the European Central Bank, Mario Draghi, on Monday. Draghi's pledge to do whatever was needed to protect the euro set off a market rally last week. The Dow rose back above 13,000 for the first time since May and is now up 1.5 percent for the month. 

Hopes are high that Draghi will announce plans to support the euro when the central bank meets Thursday, said David Brown, the CEO and chief market strategist at the research firm Sabrient. 

"I think that's the big story this week," Brown said. "The market has really responded to his bold statement. I hope the ECB takes action. If they don't do anything, it's not going to be pretty." 

Investors are also looking toward the Federal Reserve's meeting this week. Many in the financial markets believe the Fed will take new steps to stimulate the economy in coming months. The Fed will release its statement on interest rate policy Wednesday afternoon. 

Besides the Fed statement and the ECB meeting, another potentially market-moving event comes up Friday, when the U.S. Labor Department releases its monthly employment survey. Economists expect that the unemployment rate will remain at 8.2 percent. 

In other Monday trading, the broader Standard & Poor's 500 index fell 0.67 of a point to 1,385.30, while the Nasdaq dropped 12.25 points to 2,945.84. 

The indexes had been creeping higher early in the day, then reversed course soon after a regional manufacturing report came in much weaker than analysts had expected. A survey of manufacturing by the Dallas branch of the Federal Reserve showed a steep drop in July. Economists had forecast a modest gain. 

Two corporate deals announced early Monday pushed some stocks higher. Chicago Bridge & Iron Co. agreed to buy Shaw Group for $3 billion in cash and stock. Shaw jumped $14.80, or 55 percent, to $41.49. 

Medical and industrial equipment maker Roper Industries said it plans to buy hospital software company Sunquest Information Systems for $1.42 billion. Roper also raised its earnings estimate for the year, a result of the pending merger and a stronger dollar. Roper gained 1 percent to $99.64. Sunquest is privately owned. 

History suggests the stock market could head higher in the coming months, said Sam Stovall, chief equity strategist at S&P Capital IQ. Stocks usually hit their annual peak in the second half of the year. But Stovall said economic reports and earnings estimates "point to a more challenging period ahead." 

Of the 294 companies in the S&P 500 that have reported earnings so far, 195 have surpassed analysts' expectations. But the bar was set low. Analysts now expect quarterly profits will sink 0.25 percent and revenue will rise just 1.9 percent compared with the year before, according to S&P Capital IQ. That would be the worst earnings season since the summer quarter of 2009. 

Among other stocks making big moves: 

”” Supermarket operator Supervalu rose 13 percent, or 25 cents, to $2.24 after the company announced that it would oust its CEO. Earlier this month, the Minneapolis company reported weaker sales and profits and suspended its dividend. Supervalu also said it may put itself up for sale. 

”” Loews Corp. sank 5 percent after reporting that its net income plunged 78 percent in the second quarter. The holding company, controlled by New York's Tisch family, took a hit as falling energy prices lowered the value of its oil and gas properties. The company runs Diamond Offshore Drilling Inc., HighMount Exploration & Production and Loews Hotels. Its stock lost $2.16 to $39.54. 

”” Suntech Power Holdings plunged 15 percent. The Chinese solar company said it may be the victim of a massive fraud. Suntech dropped 23 cents to $1.34. The solar company's stock has lost 82 percent of its market value over the past year.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks ended slightly lower Tuesday as investors held back ahead of three critical events this week: policy meetings at both the Federal Reserve and the European Central Bank and a closely watched report on jobs in the U.S. 

The Dow Jones industrial average lost 64.33 points to close at 13,008.68. The Standard & Poor's 500 edged down 5.98 points to 1,379.32, and the Nasdaq composite lost 6.32 points to 2,939.52. 

The Federal Reserve, which started a two-day policy meeting Tuesday, had appeared to be moving toward announcing some kind of new step to energize the U.S. economy. But there were big questions over whether it will do so this week. 

That's because some economists believe the Fed isn't convinced that the U.S. economic slowdown is pronounced enough yet to require more economic stimulus. A slew of recent data that has shown weakness in the economy has been offset by some pockets of strength. 

Tuesday was no exception. 

The Commerce Department reported that spending by the U.S. consumer was unchanged in June. But personal income edged up 0.5 percent. 

"If incomes are rising, but people aren't spending, it tells you that the consumer has some ammunition for more spending during the crucial back-to-school season," said Quincy Krosby, market strategist with Prudential Financial. 

There were other positive numbers. The Standard & Poor's/Case-Shiller home price index released Tuesday showed that prices increases in all of the 20 cities it tracks. The Conference Board said Consumer Confidence Index increased to its highest reading since April, and better than economists had forecast. 

Investors were also closely watching for the outcome from the European Central Bank's meeting on Thursday to discuss concrete steps to help countries with crippling debt

 *The NYSE DOW closed  	LOWER ▼	-64.33	points or ▼	-0.49%	Tuesday, 31 July 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,008.68	▼	-64.33	▼	-0.49%	
	Nasdaq____	2,939.52	▼	-6.32	▼	-0.21%	
	S&P_500__	1,379.32	▼	-5.98	▼	-0.43%	
	30_Yr_Bond	2.577	▼	0.00	▼	-0.08%	

NYSE Volume	 3,825,227,750 			 		 	
Nasdaq Volume	 1,816,832,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,635.28	▼	-58.35	▼	-1.02%	
	DAX_____	6,772.26	▼	-1.80	▼	-0.03%	
	CAC_40__	3,291.66	▼	-29.05	▼	-0.87%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,289.40	▲	22.50	▲	0.53%	
	Shanghai_Comp	2,103.63	▼	-6.28	▼	-0.30%	
	Taiwan_Weight	7,270.49	▲	111.61	▲	1.56%	
	Nikkei_225____	8,695.06	▲	59.62	▲	0.69%	
	Hang_Seng____	19,796.81	▲	53.93	▲	1.08%	
	Strait_Times___	3,036.40	▲	3.60	▲	0.12%	
	NZX 50 Index__	3,545.01	▲	26.12	▲	0.74%	

http://finance.yahoo.com/news/stock...AtZGI1MS0xMWUxLWI3OWItMjViY2RhZTcxZTJh;_ylv=3

*Stocks slip ahead of crucial Fed, ECB meetings

Investors hold back ahead of key meetings this week at Federal Reserve, European Central Bank*

By Pallavi Gogoi

 Stocks ended slightly lower Tuesday as investors held back ahead of three critical events this week: policy meetings at both the Federal Reserve and the European Central Bank and a closely watched report on jobs in the U.S. 

The Dow Jones industrial average lost 64.33 points to close at 13,008.68. The Standard & Poor's 500 edged down 5.98 points to 1,379.32, and the Nasdaq composite lost 6.32 points to 2,939.52. 

The Federal Reserve, which started a two-day policy meeting Tuesday, had appeared to be moving toward announcing some kind of new step to energize the U.S. economy. But there were big questions over whether it will do so this week. 

That's because some economists believe the Fed isn't convinced that the U.S. economic slowdown is pronounced enough yet to require more economic stimulus. A slew of recent data that has shown weakness in the economy has been offset by some pockets of strength. 

Tuesday was no exception. 

The Commerce Department reported that spending by the U.S. consumer was unchanged in June. But personal income edged up 0.5 percent. 

"If incomes are rising, but people aren't spending, it tells you that the consumer has some ammunition for more spending during the crucial back-to-school season," said Quincy Krosby, market strategist with Prudential Financial. 

There were other positive numbers. The Standard & Poor's/Case-Shiller home price index released Tuesday showed that prices increases in all of the 20 cities it tracks. The Conference Board said Consumer Confidence Index increased to its highest reading since April, and better than economists had forecast. 

Investors were also closely watching for the outcome from the European Central Bank's meeting on Thursday to discuss concrete steps to help countries with crippling debt. 

It will be the first meeting after ECB President Mario Draghi said last Thursday that the central bank would do "whatever it takes" to preserve the euro, sending markets sharply higher. Over the following days, the leaders of Germany, France and Italy also said they would do all they can to protect the 17-country currency union. The comments raised expectations that the ECB might step in to buy Spanish and perhaps Italian government bonds to lower the borrowing costs for those countries, which have shot up to unsustainably high levels. 

Investors were also waiting for the monthly unemployment report on Friday, the most-watched gauge of how healthy the U.S. economy is. 

"There's a lot to absorb this week, including two major announcements from two very important central banks and payroll data," Krosby said. 

Corporate earnings news did little to inspire investors. Aetna, the health insurance company, reported a 15 percent slump in net income as rising medical costs outweighed a gain in revenue. Its stock fell $1.08, or almost 3 percent, to $36.06. 

Archer Daniels Midland, hammered by record corn prices, reported a 25 percent drop in net income. The agriculture company's stock fell $1.40, or 5 percent, to $26.09. 

Bond yields ended slightly lower as traders waited for news from the Fed and the ECB. Investors are particularly interested to see whether the Fed will change or extend its bond purchasing program. The yield on the benchmark 10-year Treasury note fell to 1.47 percent from 1.50 percent late Monday. The euro also rose slightly against the dollar, to $1.23 from $1.22. 

Among other stocks making big moves: 

”” Coach, the luxury handbag maker, fell $11.2, or 18.6 percent, to $49.33, the biggest loss in the S&P 500 index. The company's revenue came in below analysts' forecasts because of slower sales at North American factory stores as consumers became more cautious about spending. 

”” U.S. Steel gained $1.73, or 9 percent, to $20.65. Higher prices and lower costs for raw materials and energy helped the company beat analysts' forecasts despite challenging economic conditions, particularly in Europe. 

”” Goodyear Tire rose $1.08, or 10.4 percent, to $11.45. The company's income more than doubled in the quarter after lower costs offset a drop in tire sales and beat Wall Street's expectations. 

”” Valero Energy rose $1.42, or 5.4 percent, to $27.50. The second quarter results from the gasoline and petroleum products maker beat Wall Street profit forecasts after the company expanded its fuel-making operation in the United Kingdom, which helped the company increase production.


----------



## bigdog

Source: http://finance.yahoo.com 

On a chaotic day, Fed, glitches push stocks lower

Stocks turn lower after Fed decides not to take new action; technical glitch scrambles shares

There was more than one story line playing out in the stock market Wednesday. 

The market wavered between gains and losses for much of the day, yanked around by technical problems, an ambiguous statement from the Federal Reserve, and mixed reports on U.S. companies that made it difficult to decipher just where the economy is headed. 

By the time it was all over, all the key indexes were down, their third straight day of losses. The euphoria of late last week, when investors celebrated after European leaders promised to keep the euro zone intact, seemed a distant memory. 

The Dow Jones industrial average shed 32.55 points to 12,976.13. The Standard & Poor's 500 fell four points to 1,375.32. And the Nasdaq composite index lost 19.31 points to 2,920.21. 

 *The NYSE DOW closed  	LOWER ▼	-32.55	points or ▼	-0.25%	Wednesday, 1 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,976.13	▼	-32.55	▼	-0.25%	
	Nasdaq____	2,920.21	▼	-19.31	▼	-0.66%	
	S&P_500__	1,375.32	▼	-4.00	▼	-0.29%	
	30_Yr_Bond	2.614	▲	0.04	▲	1.44%	

NYSE Volume	 4,421,180,500 			 		 	
Nasdaq Volume	 1,758,079,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,712.82	▲	77.54	▲	1.38%	
	DAX_____	6,754.46	▼	-17.80	▼	-0.26%	
	CAC_40__	3,321.56	▲	29.90	▲	0.91%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,282.70	▼	-6.70	▼	-0.16%	
	Shanghai_Comp	2,123.36	▲	19.73	▲	0.94%	
	Taiwan_Weight	7,267.96	▼	-2.53	▼	-0.03%	
	Nikkei_225____	8,641.85	▼	-53.21	▼	-0.61%	
	Hang_Seng____	19,820.38	▲	53.93	▲	0.12%	
	Strait_Times___	3,051.08	▲	14.68	▲	0.48%	
	NZX 50 Index__	3,530.65	▼	-14.36	▼	-0.41%	

http://finance.yahoo.com/news/chaotic-day-fed-glitches-push-205234942.html

*On a chaotic day, Fed, glitches push stocks lower

Stocks turn lower after Fed decides not to take new action; technical glitch scrambles shares*

By Christina Rexrode

There was more than one story line playing out in the stock market Wednesday. 

The market wavered between gains and losses for much of the day, yanked around by technical problems, an ambiguous statement from the Federal Reserve, and mixed reports on U.S. companies that made it difficult to decipher just where the economy is headed. 

By the time it was all over, all the key indexes were down, their third straight day of losses. The euphoria of late last week, when investors celebrated after European leaders promised to keep the euro zone intact, seemed a distant memory. 

The Dow Jones industrial average shed 32.55 points to 12,976.13. The Standard & Poor's 500 fell four points to 1,375.32. And the Nasdaq composite index lost 19.31 points to 2,920.21. 

Here's a look at the key developments Wednesday: 

””THE ECONOMY 

For every hint that the economy is improving, another cropped up to indicate that it isn't. 

Chrysler, Volkswagen and Nissan reported strong sales in July ”” but General Motors and Ford faltered. 

Construction spending rose for the third month in a row, according to one closely watched report, but manufacturing activity shrank, according to another. 

The cable company Comcast jumped 3 percent after beating analysts' expectations for second-quarter earnings, but Avon lost 1 percent, after missing them. Comcast finished up $1 at $33.55. Avon lost 19 cents to $15.30. 

Zahid Siddique, portfolio manager at Gamco in Rye, N.Y., captured the mood simply: "We have a couple of positives," he said, "offset by a couple of negatives." 

””TRADING GLITCHES 

The opening minutes of trading were chaotic for some companies, with their shares swinging wildly for no immediately apparent reason. Abercrombie & Fitch, for example, jumped 9 percent in early trading, and Harley-Davidson sank 12 percent, before stabilizing. 

The culprit was an unspecified problem at Knight Capital, one of the largest processors of stock trades. The New York Stock Exchange, where the shares are traded, eventually decided to cancel some trades in six smaller stocks. 

Among traders, the problems brought unwelcome reminders of previous technological problems that have damaged investors' faith in the financial system, including technical problems on the Nasdaq stock exchange when Facebook went public in May. 

"These have happened not once but a number of times, and unless they're addressed they'll continue to happen," said Matthew Rubin, director of investment strategy at Neuberger Berman in New York. "I think it's one of many, many things that has rattled investors' faith in the equity markets." 

””THE FED 

The Federal Reserve issued a statement Wednesday afternoon after wrapping up a two-day policy meeting, as is customary. 

But investors hoping for clarity were disappointed. 

Investors' reaction to the Fed statements can be a perverse equation. Some investors want the Fed to say that the economy is doing poorly ”” poorly enough to persuade the Fed to take more action to try to get it going again. 

Instead, policymakers acknowledged that the economy has ebbed so far this year, but pledged merely to take further steps in the future if necessary. 

But there are also doubts as to whether the Fed has any arrows left in its quiver. It can lower interest rates to try to spur borrowing, but rates are already at historic lows. It can buy bonds to try to drive investors into stocks, but the effect on the fundamentals of the economy are debatable. 

Matt Ballew, chairman of Security Ballew Wealth Management in Jackson, Miss., thinks that only more-responsible spending policies will help. 

"What the central banks can do from this point on is meaningless," Ballew said. "They can make it worse, but they can't make it better." 

Thursday, investors will be watching for statements from the European Central Bank meeting. Investors are anxious to know if European leaders have some concrete plan to tame the continent's debt crisis, or merely good intentions.


----------



## bigdog

Source: http://finance.yahoo.com 

Europe promises to keep working on debt crisis but can't promise much more; markets slump

European leaders on Thursday gamely promised to keep tackling the continent's debt crisis. But the markets wanted much more. 

Stocks sank across the U.S. and Europe, the euro fell against the dollar and investors dumped bonds issued by the governments of Spain and Italy. Investors had been expecting more immediate action from the European Central Bank and were disappointed by the plan's lack of details, especially considering the ECB president's pledge last week to do "whatever it takes" to keep the euro intact. 

A week later, investors' response was more like: "whatever." 

It was the second day in a row that markets were disappointed by a lack of decisive action from a major central bank. On Wednesday, stocks closed lower after the Federal Reserve made only vague promises about its plans for trying to revive the U.S. economy. 

"It's more jawboning, it's more copy and paste from last week," said Kenny Polcari, managing director of the brokerage ICAP. "There was no definitive plan, and so all the hype and energy (Draghi) created last week is going to go down in flames today." 

The Dow Jones industrial average fell 92.18 points to 12,878.88. The Dow had been down as much as 192 shortly after noon. 

The Standard & Poor's 500 index fell 10.32 to 1,365. The Nasdaq composite index lost 10.44 to 2,909.77. 

It was the fourth day in a row of losses; U.S. stocks haven't risen since ECB President Mario Draghi's now-famous three-word promise one week ago. 

Investors had been hoping for clear action from the ECB, such as a cut in interest rates or clear plans to buy more European government bonds, which could lower borrowing costs for troubled countries like Spain and Italy. 

 *The NYSE DOW closed  	LOWER ▼	-92.18	points or ▼	-0.71%	Thursday, 2 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,878.88	▼	-92.18	▼	-0.71%	
	Nasdaq____	2,909.77	▼	-10.44	▼	-0.36%	
	S&P_500__	1,365.00	▼	-10.14	▼	-0.74%	
	30_Yr_Bond	2.547	▼	-0.07	▼	-2.56%	

NYSE Volume	 4,139,315,750 			 		 	
Nasdaq Volume	 1,840,866,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,662.30	▼	-50.52	▼	-0.88%	
	DAX_____	6,606.09	▼	-148.37	▼	-2.20%	
	CAC_40__	3,232.46	▼	-89.10	▼	-2.68%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,290.10	▲	7.40	▲	0.17%	
	Shanghai_Comp	2,111.18	▼	-12.18	▼	-0.57%	
	Taiwan_Weight	7,267.96	▼	-2.53	▼	-0.03%	
	Nikkei_225____	8,653.18	▲	11.33	▲	0.13%	
	Hang_Seng____	19,690.20	▲	53.93	▼	-0.66%	
	Strait_Times___	3,036.19	▼	-14.89	▼	-0.49%	
	NZX 50 Index__	3,564.11	▲	33.46	▲	0.95%	

http://finance.yahoo.com/news/no-concrete-action-europe-stocks-153934101.html

*With no concrete action in Europe, stocks slump

Europe promises to keep working on debt crisis but can't promise much more; markets slump*

By Christina Rexrode

 European leaders on Thursday gamely promised to keep tackling the continent's debt crisis. But the markets wanted much more. 

Stocks sank across the U.S. and Europe, the euro fell against the dollar and investors dumped bonds issued by the governments of Spain and Italy. Investors had been expecting more immediate action from the European Central Bank and were disappointed by the plan's lack of details, especially considering the ECB president's pledge last week to do "whatever it takes" to keep the euro intact. 

A week later, investors' response was more like: "whatever." 

It was the second day in a row that markets were disappointed by a lack of decisive action from a major central bank. On Wednesday, stocks closed lower after the Federal Reserve made only vague promises about its plans for trying to revive the U.S. economy. 

"It's more jawboning, it's more copy and paste from last week," said Kenny Polcari, managing director of the brokerage ICAP. "There was no definitive plan, and so all the hype and energy (Draghi) created last week is going to go down in flames today." 

The Dow Jones industrial average fell 92.18 points to 12,878.88. The Dow had been down as much as 192 shortly after noon. 

The Standard & Poor's 500 index fell 10.32 to 1,365. The Nasdaq composite index lost 10.44 to 2,909.77. 

It was the fourth day in a row of losses; U.S. stocks haven't risen since ECB President Mario Draghi's now-famous three-word promise one week ago. 

Investors had been hoping for clear action from the ECB, such as a cut in interest rates or clear plans to buy more European government bonds, which could lower borrowing costs for troubled countries like Spain and Italy. 

But Germany's central bank, which has footed much of the bill for bailing out other European countries, declined to go along. And so Draghi on Thursday had to tell a highly anticipated news conference that the ECB "may" intervene in the bond market. He promised the ECB would consider other emergency measures in coming weeks. 

The yield, or interest rate, on Spain's benchmark 10-year bond jumped to 7.06 percent from 6.68 percent late Wednesday, making it more expensive for the country to borrow money. The yield on Italy's 10-year bond rose to 6.30 percent from 5.85 percent. Other countries have been forced to seek bailouts once their rates rose above 7 percent. 

To be fair, the ECB faces a Herculean task with no easy solutions. Whatever it does is sure to offend someone. Some of the weaker countries, like Greece, have lodged their own resistance to other ECB measures, such as demands for spending cuts meant to help countries achieve sustainable budgets. 

It's also unrealistic for investors to expect quick fixes to a problem that was so long in the making, said Christian Bertelsen, chief investment officer of Global Financial Private Capital in Sarasota, Fla. 

In the U.S., he noted, there was a half-year lag between the Treasury Department announcing it would buy stakes directly in banks in the fall of 2008 and investors becoming comfortable by the spring of 2009 that there wouldn't be uncontrollable bank failures. 

"People look at Euroland and say, 'Why don't they get something done there?'" Bertelsen said. "How quickly they forget what a miserable six months it was here." 

In the U.S., thoughts of Europe were close at hand. General Motors and Kellogg reported lower quarterly profits and put some of the blame on Europe. 

In other trading: 

””Knight Capital Group, the trading firm whose technical glitch sent trading of dozens of stocks into chaos early Wednesday, lost 63 percent of its value, plunging $4.36 to $2.58. In two days, it has lost 75 percent of its value. 

””Abercrombie & Fitch dropped 15 percent and Aeropostale dropped 33 percent after both companies warned of weak second-quarter sales. Abercrombie lost $4.96 to $29.06. Aeropostale lost $6.37 to $13.08. 

””A smattering of positive signs about the economy got lost in the greater maelstrom. Retailers including Target, Limited Brands and Gap announced that July sales beat expectations. Shares of all three companies climbed, with the biggest increase at Gap. It rose 13 percent, gaining $3.75 to $33.17.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks soar on surprisingly strong July job report

Stocks surge on Wall Street after the US government says hiring picked up sharply in July

A surge in hiring last month got a big welcome on Wall Street Friday. 

The Dow Jones industrial average surged 217.29 points to close at 13,096.17, ending a four-day losing streak. It was the best day for the Dow since June 29. 

Markets had been slumping all week after central banks in the U.S and Europe took no new action to shore up the economy, as investors had hoped. 

The Labor Department's closely watched monthly jobs report gave investors assurance that the U.S. economy may be doing better on its own. U.S. employers added 163,000 jobs last month, far more than the 100,000 economists were expecting. From April through June, the economy added an average of just 73,000 jobs a month, compared with an average of 226,000 in the first three months of the year. 

"It's one step forward," said Joe Bell, senior equity analyst at Schaeffer's Investment Research. "But we would like to see continued improvement in the labor market in coming months." 

There was more to cheer about from the service sector, which employs 90 percent of all Americans. 

The Institute for Supply Management reported that U.S. service companies grew at a slightly faster pace in July. The ISM's services index rose to 52.6 from 52.1 in June, which was the lowest reading since January 2010. Any reading above 50 means that business is growing for service providers. 

The good economic news caused investors to sell low-risk assets like U.S. government debt. The selling drove prices down and yields up. The benchmark 10-year Treasury note was yielding 1.57 percent, up from 1.48 percent Thursday. 

Oil prices also rose as investors became more optimistic about the economy. Benchmark crude shot up $4.27 to $91.40 on the New York Mercantile Exchange. 

The broader Standard & Poor's 500 index rose 25.99 points to 1,390.99, and the Nasdaq composite index added 58.13 points to 2,967.90. 

 *The NYSE DOW closed  	HIGHER ▲	217.29	points or ▲	1.69%	Friday, 3 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,096.17	▲	217.29	▲	1.69%	
	Nasdaq____	2,967.90	▲	58.13	▲	2.00%	
	S&P_500__	1,390.99	▲	25.99	▲	1.90%	
	30_Yr_Bond	2.662	▲	0.12	▲	4.52%	

NYSE Volume	 3,689,187,750 			 		 	
Nasdaq Volume	 1,727,792,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,787.28	▲	124.98	▲	2.21%	
	DAX_____	6,865.66	▲	259.57	▲	3.93%	
	CAC_40__	3,374.19	▲	141.73	▲	4.38%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,243.00	▼	-47.10	▼	-1.10%	
	Shanghai_Comp	2,132.80	▲	21.61	▲	1.02%	
	Taiwan_Weight	7,217.51	▼	-50.45	▼	-0.69%	
	Nikkei_225____	8,555.11	▼	-98.07	▼	-1.13%	
	Hang_Seng____	19,666.18	▲	53.93	▼	-0.12%	
	Strait_Times___	3,051.33	▲	15.14	▲	0.50%	
	NZX 50 Index__	3,548.00	▼	-16.11	▼	-0.45%	

http://finance.yahoo.com/news/stocks-soar-surprisingly-strong-july-142727797.html

*Stocks soar on surprisingly strong July job report

Stocks surge on Wall Street after the US government says hiring picked up sharply in July*

By Pallavi Gogoi

A surge in hiring last month got a big welcome on Wall Street Friday. 

The Dow Jones industrial average surged 217.29 points to close at 13,096.17, ending a four-day losing streak. It was the best day for the Dow since June 29. 

Markets had been slumping all week after central banks in the U.S and Europe took no new action to shore up the economy, as investors had hoped. 

The Labor Department's closely watched monthly jobs report gave investors assurance that the U.S. economy may be doing better on its own. U.S. employers added 163,000 jobs last month, far more than the 100,000 economists were expecting. From April through June, the economy added an average of just 73,000 jobs a month, compared with an average of 226,000 in the first three months of the year. 

"It's one step forward," said Joe Bell, senior equity analyst at Schaeffer's Investment Research. "But we would like to see continued improvement in the labor market in coming months." 

There was more to cheer about from the service sector, which employs 90 percent of all Americans. 

The Institute for Supply Management reported that U.S. service companies grew at a slightly faster pace in July. The ISM's services index rose to 52.6 from 52.1 in June, which was the lowest reading since January 2010. Any reading above 50 means that business is growing for service providers. 

The good economic news caused investors to sell low-risk assets like U.S. government debt. The selling drove prices down and yields up. The benchmark 10-year Treasury note was yielding 1.57 percent, up from 1.48 percent Thursday. 

Oil prices also rose as investors became more optimistic about the economy. Benchmark crude shot up $4.27 to $91.40 on the New York Mercantile Exchange. 

The broader Standard & Poor's 500 index rose 25.99 points to 1,390.99, and the Nasdaq composite index added 58.13 points to 2,967.90. 

Despite the gain in hiring, there were still enough signs of weakness in the latest jobs report to keep hope alive that the Federal Reserve may still take more steps to kick-start the economy at its next meeting in September. A separate survey of households by the Labor Department found that the unemployment rate rose to 8.3 percent in July from 8.2 percent in June. 

"I'm not ready to declare victory just yet," said Uri Landesman, president of hedge fund Platinum Partners. "Lending activity is still pretty low because banks aren't taking that much risk, and it's hard for an economy to expand when banks are on tenterhooks themselves." 

At the end of a two-day policy meeting on Wednesday, the Fed said it would take action on the economy "as needed to promote a stronger economic recovery." On Thursday, markets fell sharply after the European Central Bank didn't announce specific plans to tackle the continent's debt crisis, as many investors expected it would. 

Several U.S. companies turned in strong earnings reports on Friday. Procter & Gamble, which makes Tide, Bounty, NyQuil and many other consumer products, reported a 45 percent surge in quarterly earnings, easily beating Wall Street's forecasts. P&G's stock rose $1.99 to $65.50. 

Other stocks making big moves included: 

”” Knight Capital leapt 57 percent after the company obtained an emergency credit line, according to news reports. The trading firm was responsible for stock market disruptions on Wednesday which will cost it $440 million. The stock had fallen 75 percent over the previous two days. On Friday, the stock rose $1.47 to $4.05. 

”” LinkedIn shot up $15 to $108.51. The social media company reported that its second-quarter revenue increased faster than analysts had expected. LinkedIn also raised its full-year revenue forecast. 

”” Kraft Foods rose $1.57 to $40.51 after reporting a 5 percent jump in its second-quarter profit. Higher prices helped offset a drag from raw-materials costs and currency exchange rates. 

”” Zipcar plummeted $3.88 to $6.75. The stock reached an all-time low Friday after the car-sharing network reported lower-than-expected revenue in the second quarter and cut its annual revenue estimates.

4950


----------



## bigdog

Source: http://finance.yahoo.com 

U.S. stocks edged higher on a day marked by uncharacteristic quiet following a turbulent week. 

In the absence of major economic news, stocks were riding a tailwind of optimism from the most recent U.S. job numbers released last week and hope for more action by European authorities to address that region's debt crisis. 

On Monday, beleaguered stock trading company Knight Capital Group said it has lined up $400 million in financing that will allow the firm to continue to operate. Knight was fighting for survival after a disastrous software glitch in its systems sent the trading of dozens of stocks into chaos last week. 

Best Buy's stock soared after its founder offered to buy the company. 

The Dow Jones industrial average closed up 21.34 points at 13,117.51. The broader Standard & Poor's 500 index added 3.24 points to 1,394.23. The index came within half a point of 1,400, where it hasn't traded since May 3. 

The Nasdaq index rose 22.01 points to 2,989.91. 

Markets fell the first four days of last week after investors were disappointed by the lack of specific action from central banks in Europe and the U.S. to support the economy. The Dow lost 197 points from Monday through Thursday. 

The Dow soared 217 points on Friday, however, following a surprisingly strong jobs report. The U.S. economy generated 163,000 jobs last month, the fastest pace since February and far more than economists were expecting. 

The upturn was seen as a sign that the U.S. may be resilient enough to pull out of a midyear slump and grow modestly, even as the rest of the world slows down. Investors drove markets higher Monday on hopes that the positive momentum will continue. 

Stock indexes also rose in Europe. Speculation has been building that the European Central Bank will support struggling countries like Spain and Italy by buying bonds issued by those governments.

 *The NYSE DOW closed  	HIGHER ▲	21.34	points or ▲	0.16%	Monday, 6 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,117.51	▲	21.34	▲	0.16%	
	Nasdaq____	2,989.91	▲	22.01	▲	0.74%	
	S&P_500__	1,394.23	▲	3.24	▲	0.23%	
	30_Yr_Bond	2.646	▼	-0.02	▼	-0.60%	

NYSE Volume	 3,120,591,750 			 		 	
Nasdaq Volume	 1,530,659,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,808.77	▲	21.49	▲	0.37%	
	DAX_____	6,918.72	▲	53.06	▲	0.77%	
	CAC_40__	3,401.56	▲	27.37	▲	0.81%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,292.90	▲	49.90	▲	1.18%	
	Shanghai_Comp	2,154.92	▲	22.12	▲	1.04%	
	Taiwan_Weight	7,286.33	▲	68.82	▲	0.95%	
	Nikkei_225____	8,726.29	▲	171.18	▲	2.00%	
	Hang_Seng____	19,998.72	▲	53.93	▲	1.69%	
	Strait_Times___	3,071.25	▲	19.92	▲	0.65%	
	NZX 50 Index__	3,563.20	▲	15.21	▲	0.43%	

http://finance.yahoo.com/news/us-stocks-rise-knight-capital-134054948.html

*US stocks rise; Knight Capital gets lifeline

US stocks rise on hopes of strengthening economy; Knight Capital says it has $400M lifeline*

By Pallavi Gogoi

U.S. stocks edged higher on a day marked by uncharacteristic quiet following a turbulent week. 

In the absence of major economic news, stocks were riding a tailwind of optimism from the most recent U.S. job numbers released last week and hope for more action by European authorities to address that region's debt crisis. 

On Monday, beleaguered stock trading company Knight Capital Group said it has lined up $400 million in financing that will allow the firm to continue to operate. Knight was fighting for survival after a disastrous software glitch in its systems sent the trading of dozens of stocks into chaos last week. 

Best Buy's stock soared after its founder offered to buy the company. 

The Dow Jones industrial average closed up 21.34 points at 13,117.51. The broader Standard & Poor's 500 index added 3.24 points to 1,394.23. The index came within half a point of 1,400, where it hasn't traded since May 3. 

The Nasdaq index rose 22.01 points to 2,989.91. 

Markets fell the first four days of last week after investors were disappointed by the lack of specific action from central banks in Europe and the U.S. to support the economy. The Dow lost 197 points from Monday through Thursday. 

The Dow soared 217 points on Friday, however, following a surprisingly strong jobs report. The U.S. economy generated 163,000 jobs last month, the fastest pace since February and far more than economists were expecting. 

The upturn was seen as a sign that the U.S. may be resilient enough to pull out of a midyear slump and grow modestly, even as the rest of the world slows down. Investors drove markets higher Monday on hopes that the positive momentum will continue. 

Stock indexes also rose in Europe. Speculation has been building that the European Central Bank will support struggling countries like Spain and Italy by buying bonds issued by those governments. 

Germany's DAX and the CAC-40 in France both rose a little less than 1 percent. Spain's IBEX 35 soared 4.4 percent despite a five-hour blackout from a technical problem that halted trading for much of the day. 

"Mutual fund managers and hedge funds have sizable holdings in cash and they need to put those to work," said Richard Cripps, chief investment officer for Stifel Financial. "There's optimism over the progress made in Europe and also constructive news from the U.S. economy." 

Knight Capital's stock fell 98 cents, or 24 percent, to $3.07 Monday. It's down 70 percent since last Tuesday, the day before a software malfunction caused its computer systems to send erroneous orders flooding into the market. 

Knight said a group of investors agreed to buy $400 million of preferred stock that can be converted into a 73 percent stake in the firm. 

Knight takes orders for stock trades from brokers like TD Ameritrade and E-Trade and banks. It then routes them to the exchanges where stocks are traded, like the New York Stock Exchange. Its future was thrown into doubt after the trading malfunction cost the firm $440 million. 

Going in the opposite direction was Best Buy Co., which jumped 13 percent after founder and former CEO Richard Schulze offered to buy the company at a premium to its stock price. Schulze, 71, is its largest shareholder with a 20 percent stake. 

Among other stocks making big moves: 

”” Cognizant Technology Solutions jumped $6.34, or 11 percent, to $64.21 after the consulting company's second-quarter results beat Wall Street's estimates. The company raised its full-year earnings forecast. 

”” The Interpublic Group fell 86 cents, or 8 percent, to $10.11 after rival Publicis Groupe of France shot down a report that it was weighing a bid to buy the American advertising company. 

”” Tyson Foods fell $1.23, or 8 percent, to $14.17 after the nation's biggest meat company reported that income dropped 61 percent in the quarter partly due to lower U.S. consumer demand for chicken and beef. 

”” Pluristem Therapeutics climbed 49 cents, or 15 percent, to $3.80. The Israeli drugmaker said a cancer patient's life was saved with the use of certain cells it had developed.


----------



## bigdog

Source: http://finance.yahoo.com 

It was a day of milestones for the stock market. 

Stronger corporate earnings reports and expectations that central banks will act to support the economy powered the Standard & Poor's 500 index past 1,400 for the first time in three months. The index rose 7.12 points to close at 1,401.35 on Tuesday. Energy stocks increased the most of the 10 industry groups tracked by the index. 

The Nasdaq composite index marked a milestone of its own: the first close above 3,000 since early May. The Nasdaq rose 25.95 points to 3,015.86. 

The S&P hasn't closed above 1,400 since May 2, and the Nasdaq hasn't closed above 3,000 since May 3. 

"There's been a bunch of positive earnings numbers," said Stephen Carl, head of equity trading at The Williams Capital Group. "While that makes some investors happy, I'd like to see some more robust growth." 

The Dow Jones industrial average rose 51.09 points to 13,168.60. The Dow is now 996 points below its all-time high of 14,164.53 reached on Oct. 9, 2007, prior to the financial crisis. The Dow would have to rise 7.6 percent to break that record. 

Energy companies rose broadly after Chesapeake Energy reported that its income doubled in the second quarter. Revenue from oil, natural gas and natural gas liquids rose. Chesapeake's stock soared $1.67 to $19.37, lifting other energy stocks with it ”” Cabot Oil & Gas jumped $2.09 to $42.88 and Occidental Petroleum rose $2.48 to $90.74. 

 *The NYSE DOW closed  	HIGHER ▲	51.09	points or ▲	0.39%	Tuesday, 7 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,168.60	▲	51.09	▲	0.39%	
	Nasdaq____	3,015.86	▲	25.96	▲	0.87%	
	S&P_500__	1,401.35	▲	7.12	▲	0.51%	
	30_Yr_Bond	2.719	▲	0.07	▲	2.76%	

NYSE Volume	 3,689,693,250 			 		 	
Nasdaq Volume	 1,905,500,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,841.24	▲	32.47	▲	0.56%	
	DAX_____	6,967.95	▲	49.23	▲	0.71%	
	CAC_40__	3,453.28	▲	51.72	▲	1.52%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,311.40	▲	18.50	▲	0.43%	
	Shanghai_Comp	2,157.62	▲	2.70	▲	0.13%	
	Taiwan_Weight	7,295.46	▲	9.13	▲	0.13%	
	Nikkei_225____	8,803.31	▲	77.02	▲	0.88%	
	Hang_Seng____	20,072.55	▲	53.93	▲	0.37%	
	Strait_Times___	3,067.38	▼	-4.44	▼	-0.14%	
	NZX 50 Index__	3,584.81	▲	21.61	▲	0.61%	

http://finance.yahoo.com/news/p-clo...1lMGQ2LTExZTEtYmZmYy03YmE0OTZkOWViNjY-;_ylv=3

S&P closes over 1,400 for first time in 3 months
S&P 500 index closes over 1,400 on better corporate earnings, hope for central bank action
By Pallavi Gogoi

It was a day of milestones for the stock market. 

Stronger corporate earnings reports and expectations that central banks will act to support the economy powered the Standard & Poor's 500 index past 1,400 for the first time in three months. The index rose 7.12 points to close at 1,401.35 on Tuesday. Energy stocks increased the most of the 10 industry groups tracked by the index. 

The Nasdaq composite index marked a milestone of its own: the first close above 3,000 since early May. The Nasdaq rose 25.95 points to 3,015.86. 

The S&P hasn't closed above 1,400 since May 2, and the Nasdaq hasn't closed above 3,000 since May 3. 

"There's been a bunch of positive earnings numbers," said Stephen Carl, head of equity trading at The Williams Capital Group. "While that makes some investors happy, I'd like to see some more robust growth." 

The Dow Jones industrial average rose 51.09 points to 13,168.60. The Dow is now 996 points below its all-time high of 14,164.53 reached on Oct. 9, 2007, prior to the financial crisis. The Dow would have to rise 7.6 percent to break that record. 

Energy companies rose broadly after Chesapeake Energy reported that its income doubled in the second quarter. Revenue from oil, natural gas and natural gas liquids rose. Chesapeake's stock soared $1.67 to $19.37, lifting other energy stocks with it ”” Cabot Oil & Gas jumped $2.09 to $42.88 and Occidental Petroleum rose $2.48 to $90.74. 

Chesapeake was the latest major U.S. company to turn in a stronger earnings report. Of the 430 companies in the S&P 500 that have reported earnings through Tuesday, 65 percent beat Wall Street's expectations, according to S&P Capital IQ. More than 43 percent have reported double-digit growth. 

On Tuesday, accessories maker Fossil reported that its second-quarter net income climbed 12 percent thanks to growing demand in Asia and strong watch sales. The performance topped analysts' estimates, and the stock popped $21.98, or 31.5 percent, to $91.77, the biggest gain in the S&P 500 index. 

MGM Resorts International reported a 29 percent surge in revenue even though the casino company had a quarterly loss. The stock rose 70 cents, or 7.5 percent, to $10.08. 

Also Tuesday, the Labor Department said U.S. employers posted the most job openings in four years in June, a positive sign that hiring may pick up. Layoffs also fell. The data follow Friday's report that said U.S. employers in July added the most jobs in five months, far more than economists were expecting. 

Recent comments by Federal Reserve chairman Ben Bernanke that the slow economic recovery has hurt many Americans has kept hope alive that the Fed will take more steps to kick-start the economy at its next meeting in September. 

Investors cut their holdings of safer assets like U.S. Treasurys, sending yields higher, as investors sold them. The yield on the benchmark 10-year Treasury note rose to 1.63 percent from 1.56 late Monday. 

In Europe, most markets rose, despite news that Italy's recession deepened in the April through June period. Italy's economy shrank for the fourth quarter in a row. Benchmark stock indexes rose 2.2 percent in both Italy and Spain, and 1.5 percent in France. 

Italy's government, which is trying to reduce debt, has made spending cuts and tax increases that are hurting businesses and households. Investors hope that the European Central Bank will help support financial weaker countries like Italy and Spain by buying their government bonds, which will hold down the interest rates these countries must pay to borrow money.


----------



## bigdog

Source: http://finance.yahoo.com 

A stock market rally lost steam Wednesday after mixed earnings from U.S. companies added to fears about Europe's economic slowdown. 

Several big consumer goods companies warned that weak demand in Europe was cutting into their revenue. That followed worrisome economic news from England, France and Germany, where growth had offset recessions in other European countries like Italy and Greece. 

Major U.S. stock indexes closed little changed. The Dow Jones industrial average finished up 7.04 points, or 0.1 percent, at 13,175.64. The Standard & Poor's 500 index added 0.87 point, or 0.1 percent, to 1,402.22. The Nasdaq closed down 4.61 points, or 0.2 percent, at 3,011.25. 

The Dow had risen 290 points over the previous three trading days. On Tuesday, the S&P 500 passed 1,400 and the Nasdaq composite closed above 3,000, both for the first time since early May. 

As stocks in New York traded tentatively, the dollar rose against the euro, a sign that investors are becoming more fearful. 

"It's not unusual for the market to pull back a bit after a strong move, absorb the latest earnings news and look to see the next catalyst to move higher," Quincy Krosby, market strategist with Prudential Financial, said. 

The market is being held back in part by reports from consumer-goods companies that weak sales in Europe are hurting revenue, Krosby said. Consumer discretionary stocks fell the most among the 10 industry groups in the S&P 500. 

 *The NYSE DOW closed  	HIGHER ▲	7.04	points or ▲	0.05%	Wednesday, 8 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,175.64	▲	7.04	▲	0.05%	
	Nasdaq____	3,011.25	▼	-4.61	▼	-0.15%	
	S&P_500__	1,402.22	▲	0.87	▲	0.06%	
	30_Yr_Bond	2.740	▲	0.02	▲	0.77%	

NYSE Volume	 3,220,859,750 			 		 	
Nasdaq Volume	 1,881,049,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,845.92	▲	4.68	▲	0.08%	
	DAX_____	6,966.15	▼	-1.80	▼	-0.03%	
	CAC_40__	3,438.26	▼	-15.02	▼	-0.43%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,332.90	▲	21.50	▲	0.50%	
	Shanghai_Comp	2,160.99	▲	3.37	▲	0.16%	
	Taiwan_Weight	7,319.80	▲	24.34	▲	0.33%	
	Nikkei_225____	8,881.16	▲	77.85	▲	0.88%	
	Hang_Seng____	20,065.52	▲	53.93	▼	-0.04%	
	Strait_Times___	3,047.99	▼	-19.75	▼	-0.64%	
	NZX 50 Index__	3,581.79	▼	-3.02	▼	-0.08%	

http://finance.yahoo.com/news/rally-wall-street-fades-priceline-200941491.html

*A rally on Wall Street fades; Priceline tanks

Stock rally fades on Wall Street; mixed earnings reports add to fears about European economy*

By Daniel Wagner

A stock market rally lost steam Wednesday after mixed earnings from U.S. companies added to fears about Europe's economic slowdown. 

Several big consumer goods companies warned that weak demand in Europe was cutting into their revenue. That followed worrisome economic news from England, France and Germany, where growth had offset recessions in other European countries like Italy and Greece. 

Major U.S. stock indexes closed little changed. The Dow Jones industrial average finished up 7.04 points, or 0.1 percent, at 13,175.64. The Standard & Poor's 500 index added 0.87 point, or 0.1 percent, to 1,402.22. The Nasdaq closed down 4.61 points, or 0.2 percent, at 3,011.25. 

The Dow had risen 290 points over the previous three trading days. On Tuesday, the S&P 500 passed 1,400 and the Nasdaq composite closed above 3,000, both for the first time since early May. 

As stocks in New York traded tentatively, the dollar rose against the euro, a sign that investors are becoming more fearful. 

"It's not unusual for the market to pull back a bit after a strong move, absorb the latest earnings news and look to see the next catalyst to move higher," Quincy Krosby, market strategist with Prudential Financial, said. 

The market is being held back in part by reports from consumer-goods companies that weak sales in Europe are hurting revenue, Krosby said. Consumer discretionary stocks fell the most among the 10 industry groups in the S&P 500. 

McDonalds fell $1.48 to $87.53 after the company said a key revenue figure came in flat in July as the weakening global economy took a toll on customers of the world's biggest burger chain. McDonalds was the weakest stock in the Dow. 

Priceline.com fell more than $100 after warning investors late Tuesday that its third-quarter revenue and income would come in far below analysts' forecasts because of the deepening malaise in Europe. Priceline's stock sank $117.48, or 17.3 percent, to $562.32. 

Priceline's travails dragged on other online travel sites. TripAdvisor fell $1.89 to $36.77 and Expedia lost $2.73 to $56.14 percent. That made them three of the five biggest losers in the S&P 500 index. 

Ralph Lauren fell $1.68 to $151.35 after the company forecast a revenue decline in the current quarter and cautioned that the weak global economy might reduce spending on its clothes and housewares. 

"It's no longer a theoretical argument that Europe is hampering earnings for American companies," Krosby said. "It's a reality, and you're seeing that today." 

Earlier Wednesday, the Bank of England said it expects the country's economy to stagnate this year. Only three months earlier, in its previous quarterly inflation report, the BOE had forecast annual growth of 0.8 percent. 

Separately, the French central bank said it expects France's economy to contract in the third quarter, the second pullback in a row. 

Standard & Poor's lowered its outlook on Greece's long-term credit rating, saying the bailed-out nation will likely need more aid from its international lenders as its economy crumbles and leaders delay imposing harsh austerity measures. 

And in Germany, industrial output and exports dropped sharply in June, a sign that Europe's strongest economy might finally be succumbing to the regional crisis. 

Bloomin' Brands Inc., operator of the Outback Steakhouse and other restaurant chains, jumped $1.41, or 12.8 percent, to $12.41 in its first day of trading on the Nasdaq. 

Among other companies making big moves: 

”” Macy's rose $1.01, or 2.7 percent, to $38.01 after the department store chain said its net income in the second quarter rose 16 percent and beat analysts' estimates. 

”” Alpha Natural Resources fell 60 cents, or 8.7 percent, to $6.30 after reporting a wider net loss in the second quarter. The coal producer is struggling to compete with cheap natural gas. 

”” Dean Foods soared $5.04, or 40.6 percent, to $17.46 after the company posted a second-quarter profit, raised its full-year forecast and announced the initial public offering of a dairy subsidiary that makes Horizon Organic milk and Land O' Lakes cream. It was the biggest percentage gain by far of any stock in the S&P 500. 

”” Higher One Holdings Inc., which markets financial services to millions of U.S. higher education students, fell 38 cents to $11.13 after the company said its second-quarter net income declined and fell far short of analysts' expectations. Federal regulators announced Wednesday that the company had agreed to refund millions in excessive fees charged to students who used its cards.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market has the summer doldrums. 

U.S. stocks dawdled between small gains and losses Thursday with investors unable to decide what to focus on: incremental encouraging news about the U.S. economy, or incremental negative news about China and elsewhere. 

The Dow Jones industrial average fell 10.45 points ”” just 0.08 percent. It has barely budged for most of the week, rising Monday through Wednesday but only by small fractions of a percent. The relative quiet is partly due to a lack of major developments in the European debt crisis or decisive news on the U.S. economy. Another reason is simply because traders like to clear out for vacation in August. 

"I think there are more active managers in the Hamptons than there are in Manhattan," said Hugh Johnson, chairman and chief investment officer of Hugh Johnson Advisors in Albany, N.Y. 

David Abuaf, chief investment officer of Hefty Wealth Partners, wasn't in the Hamptons: He was in his office in Auburn, Ind. And he, also, was watching the markets languish. 

"There has been nothing systemically consistent, either good news or bad news," Abuaf said. "So a lot of professional asset managers are saying, 'I don't know where I want to put my money, but if I don't invest now then my clients are going to start demanding their money back.'" 

The Dow closed at 13,165.19. It was down about 51 points at its lowest and up 23 at its highest, meaning it had a spread of about 74 points throughout the day. The average spread for the year so far is much higher, about 134 points, according to Dow Jones Indexes. 

Changes in the other indexes were equally underwhelming. The Standard & Poor's 500 was virtually flat, rising 0.58 points to 1,402.80. The Nasdaq edged up 7.39 to 3,018.64. 

The trendless market was a product of conflicting news about the world economy. 

 *The NYSE DOW closed  	LOWER ▼	-10.45	points or ▼	-0.08%	Thursday, 9 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,165.19	▼	-10.45	▼	-0.08%	
	Nasdaq____	3,018.64	▲	7.39	▲	0.25%	
	S&P_500__	1,402.80	▲	0.58	▲	0.04%	
	30_Yr_Bond	2.750	▲	0.01	▲	0.36%	

NYSE Volume	 3,109,152,750 			 		 	
Nasdaq Volume	 1,686,230,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,851.51	▲	5.59	▲	0.10%	
	DAX_____	6,964.99	▼	-1.16	▼	-0.02%	
	CAC_40__	3,456.71	▲	18.45	▲	0.54%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,330.10	▼	-2.80	▼	-0.06%	
	Shanghai_Comp	2,174.10	▲	13.11	▲	0.61%	
	Taiwan_Weight	7,433.70	▲	113.90	▲	1.56%	
	Nikkei_225____	8,978.60	▲	97.44	▲	1.10%	
	Hang_Seng____	20,269.47	▲	53.93	▲	1.02%	
	Strait_Times___	3,052.25	▼	-15.49	▼	-0.50%	
	NZX 50 Index__	3,583.61	▲	1.82	▲	0.05%	

http://finance.yahoo.com/news/stocks-waver-signs-economy-hard-180830051.html

*Stocks waver; signs on the economy hard to read

Stocks flicker between small gains and losses; unemployment claims dip, but China slows*

By Christina Rexrode,

The stock market has the summer doldrums. 

U.S. stocks dawdled between small gains and losses Thursday with investors unable to decide what to focus on: incremental encouraging news about the U.S. economy, or incremental negative news about China and elsewhere. 

The Dow Jones industrial average fell 10.45 points ”” just 0.08 percent. It has barely budged for most of the week, rising Monday through Wednesday but only by small fractions of a percent. The relative quiet is partly due to a lack of major developments in the European debt crisis or decisive news on the U.S. economy. Another reason is simply because traders like to clear out for vacation in August. 

"I think there are more active managers in the Hamptons than there are in Manhattan," said Hugh Johnson, chairman and chief investment officer of Hugh Johnson Advisors in Albany, N.Y. 

David Abuaf, chief investment officer of Hefty Wealth Partners, wasn't in the Hamptons: He was in his office in Auburn, Ind. And he, also, was watching the markets languish. 

"There has been nothing systemically consistent, either good news or bad news," Abuaf said. "So a lot of professional asset managers are saying, 'I don't know where I want to put my money, but if I don't invest now then my clients are going to start demanding their money back.'" 

The Dow closed at 13,165.19. It was down about 51 points at its lowest and up 23 at its highest, meaning it had a spread of about 74 points throughout the day. The average spread for the year so far is much higher, about 134 points, according to Dow Jones Indexes. 

Changes in the other indexes were equally underwhelming. The Standard & Poor's 500 was virtually flat, rising 0.58 points to 1,402.80. The Nasdaq edged up 7.39 to 3,018.64. 

The trendless market was a product of conflicting news about the world economy. 

In the U.S., the government reported that the trade deficit fell to the lowest level in 18 months, which is generally considered good for the economy. In June, the U.S. enjoyed lower prices for the oil it brought in and higher sales of the cars, pharmaceuticals and industrial machinery it shipped out. 

But the report also brought a troubling sign that China, which grew even through the global recession and afterward, can't prop up world markets forever. U.S. exports to China dropped more than 4 percent. Separately, China reported that growth slowed in auto sales and factory output. 

Another emerging-market giant, India, reported lower industrial output for the third time in four months. 

Advance Auto Parts fell after reporting lower revenue and net income, losing nearly 4 percent, or $2.65, to $67.92. Cosmetics company Elizabeth Arden jumped 13 percent, rising $5.06 to $44.02, after reporting strong international sales. 

Online brokerage E-Trade jumped nearly 7 percent, rising 55 cents to $8.57, after the company unexpectedly fired its CEO. The company didn't spell out its reasons for the dismissal, but the stock has languished and the company's largest shareholder, hedge fund Citadel, has clamored for change. 

Across the Atlantic, there were a few foreboding reminders that Europe's economy remains in trouble. 

Germany's Commerzbank predicted lower profits for the rest of the year, worrying that customers are too nervous to invest or take out loans. 

Greece reported that unemployment soared to 23 percent in May from 17 percent the year before. Among people under 25 years old, 55 percent are out of work. 

All year the market has swung back and forth on even small developments out of debt-hobbled Europe. But Thursday, investors apparently didn't mind. 

"Investors are essentially giving (European) policymakers a pass over the next few weeks because it's summer," said Jeremy Zirin, chief equity strategist at UBS Wealth Management. "But when summer is over and everyone is back in September, markets are not going to be willing to give policymakers as much time and as much rope."


----------



## bigdog

Source: http://finance.yahoo.com 

The market had a wishy-washy Friday, capping an equally directionless week. 

Stocks inched down for most of the day. Then, with 45 minutes of trading left, the Dow Jones industrial average turned positive. The Standard & Poor's 500 and the Nasdaq composite soon followed. All ended the day slightly higher. 

In a week with no major developments in Europe's debt crisis, and no surprising reports on the U.S. economy, the market struggled to figure out which way to go. The three indexes rose incrementally on Monday and Tuesday and were mixed on Wednesday and Thursday. In this quiet week, the biggest move came on Tuesday, when the Dow gained just 51 points. 

With many money managers on vacation, trading volume was low. "The sound of silence" is how Bank of America Merrill Lynch economist Ethan Harris labeled a note to clients Friday. 

Sure, there were piecemeal signs about the world economy for anyone who was looking. But they were less than the decisive. 

The second-quarter earnings season continued to wind down calmly, with most companies coming in ahead of profit predictions. But China reported a troubling slowdown in its export growth. And the end of earnings season means not that investors can relax but that the so-called fiscal cliff of 2013, when government spending cuts and higher taxes kick in, looms larger now and with less to distract investors away from it. 

To be sure, stocks have risen fairly steadily since a year ago, when a downgrade of the U.S. debt rating rocked the markets. Compared to a year ago, the Dow Jones industrial average is up 23 percent. 

Friday, the Dow ended up 42.76 points at 13,207.95. The S&P 500 rose 3.07 to 1,405.87. The Nasdaq composite rose 2.22 to 3,020.86. 

 *The NYSE DOW closed  	HIGHER ▲	42.76	points or ▲	0.32%	Friday, 10 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,207.95	▲	42.76	▲	0.32%	
	Nasdaq____	3,020.86	▲	2.22	▲	0.07%	
	S&P_500__	1,405.87	▲	3.07	▲	0.22%	
	30_Yr_Bond	2.740	▼	-0.01	▼	-0.47%	

NYSE Volume	 2,727,674,000 			 		 	
Nasdaq Volume	 1,592,768,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,847.11	▼	-4.40	▼	-0.08%	
	DAX_____	6,944.56	▼	-20.43	▼	-0.29%	
	CAC_40__	3,435.62	▼	-21.09	▼	-0.61%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,302.80	▼	-27.30	▼	-0.63%	
	Shanghai_Comp	2,168.81	▼	-5.29	▼	-0.24%	
	Taiwan_Weight	7,441.12	▲	7.42	▲	0.10%	
	Nikkei_225____	8,891.44	▼	-87.16	▼	-0.97%	
	Hang_Seng____	20,136.12	▲	53.93	▼	-0.66%	
	Strait_Times___	3,054.20	▲	1.95	▲	0.06%	
	NZX 50 Index__	3,577.80	▼	-5.82	▼	-0.16%	

http://finance.yahoo.com/news/wishy-washy-stock-market-ends-201709670.html

*Wishy-washy stock market ends slightly higher

Stocks trade lower almost all day, then reverse course; Europe's problems are felt in Asia*

By Christina Rexrode

The market had a wishy-washy Friday, capping an equally directionless week. 

Stocks inched down for most of the day. Then, with 45 minutes of trading left, the Dow Jones industrial average turned positive. The Standard & Poor's 500 and the Nasdaq composite soon followed. All ended the day slightly higher. 

In a week with no major developments in Europe's debt crisis, and no surprising reports on the U.S. economy, the market struggled to figure out which way to go. The three indexes rose incrementally on Monday and Tuesday and were mixed on Wednesday and Thursday. In this quiet week, the biggest move came on Tuesday, when the Dow gained just 51 points. 

With many money managers on vacation, trading volume was low. "The sound of silence" is how Bank of America Merrill Lynch economist Ethan Harris labeled a note to clients Friday. 

Sure, there were piecemeal signs about the world economy for anyone who was looking. But they were less than the decisive. 

The second-quarter earnings season continued to wind down calmly, with most companies coming in ahead of profit predictions. But China reported a troubling slowdown in its export growth. And the end of earnings season means not that investors can relax but that the so-called fiscal cliff of 2013, when government spending cuts and higher taxes kick in, looms larger now and with less to distract investors away from it. 

"There are three big elephants in the room," said Marty Leclerc, chief investment officer of Barrack Yard Advisors in Bryn Mawr, Penn. "A slowdown in Asia growth, the European crisis ... and the U.S. 'fiscal cliff.' " 

To be sure, stocks have risen fairly steadily since a year ago, when a downgrade of the U.S. debt rating rocked the markets. Compared to a year ago, the Dow Jones industrial average is up 23 percent. 

Friday, the Dow ended up 42.76 points at 13,207.95. The S&P 500 rose 3.07 to 1,405.87. The Nasdaq composite rose 2.22 to 3,020.86. 

But the stock market's relative good cheer doesn't necessarily mean the underlying economy is improving. The market gains are more a sign that central banks like the Federal Reserve are still willing to artificially prop up the economy, said Bill Strazzullo, chief market strategist at Bell Curve Trading outside Boston. 

"You've got every central bank out there saying, 'We're going to print as much money as it takes, we're going to buy as many bonds as it takes,' " Strazzullo said. 

Europe, the cause of so much market consternation for so many months, was quiet. Benchmark indexes fell slightly in France, Germany and Spain. Italy's long-term borrowing costs jumped, a sign that investors are nervous about its ability to pay its debts. 

Manchester United, the white-hot British soccer club, had a lethargic debut as a public company. The stock closed exactly where it opened, at $14, likely a sign that investors are worried about its heavy debts. 

A few stocks did make big moves. J.C. Penney jumped 6 percent, rising $1.30 to $23.40, after CEO Ron Johnson laid out more of his vision for turning around the struggling department store company. Lions Gate, the movie and TV studio, gained 21 cents to $13.46, after reporting a revenue surge thanks to "The Hunger Games." 

Chesapeake Energy fell 3 percent, slipping 63 cents to $19.68, after reporting that the government is investigating possible antitrust violations surrounding its purchase of oil and gas land in Michigan. Yahoo fell 5 percent, losing 86 cents to $15.15, after revealing that shareholders might not get a payout that the company had previously planned. 

China reported that its export growth slumped to 1 percent in July from more than 11 percent in June, as debt-burdened Europe pulled back on buying Chinese goods. 

Dan Heckman, senior vice president at U.S. Bank wealth management in Kansas City, wondered if China's next exports report would show exports shrinking, rather than just growing more slowly. 

"You don't have far to go from 1 to zero, or from 1 to negative," he said mid-afternoon, when shares the stock indexes were trading lower. "Frankly, we're a little surprised that the stock market isn't down more." 

China is the world's second-largest economy and a major player among world markets. Throughout the recession and its aftermath, as other countries struggled, China kept growing and helped prop up everyone else. 

Friday's data was just the latest sign of cracks in the country's armor. Thursday, China said that growth had also slowed in its auto sales and factory output.

5612


----------



## bigdog

Source: http://finance.yahoo.com 

U.S. stocks fell Monday as evidence piled up that the global economic slowdown is dragging on Asia. 

The losses broke the longest winning streak for the Standard & Poor's 500 index since December 2010. The index had risen for six straight days. 

Japan's economy grew in the second quarter at a 1.4 percent annual rate, slower than many analysts had expected. Last week, China released dismal figures on retail sales and exports in July. Traders had hoped Beijing would roll out stimulus measures over the weekend. That did not happen. 

Slower growth in Asia worries investors because Asia's economic endurance has helped offset weakness in the U.S. and Europe in recent years. Exports from China and Japan are declining as Europe's economic woes hurt consumer confidence there. 

"What's happened is the law of gravity is starting to hit," said Doug Cote, chief market strategist at ING Investment Management. Japan is volatile because it is still recovering from last year's massive earthquake and tsunami, he said, and China's growth is slowing sharply. 

Yet stocks, bonds and most other investments are all up for the year, Cote noted. He said the markets have been "pricing in Armageddon when clearly things are much better than that." Cote expects stocks to resume their upward trend as fears about the global economy dissipate. 

The Dow Jones industrial average closed down 38.52 points at 13,169.43. The S&P 500 declined 1.76 to 1,404.11. The Dow is still up 7.8 percent for the year, the S&P 11.7 percent. 

The S&P 500 and Dow have risen every week for the past five weeks. The S&P 500 last wrapped up a five-week climb in mid-March. The Dow hasn't done so since last October. 

Mondays, however, have brought mostly losses for the market in recent weeks. The Dow has fallen for 10 out of the past 11 Mondays, and the S&P 500 has finished down five of the last six. 

The Nasdaq composite index rose 1.66 points to 3,022.52. The index was helped by solid gains for two of its biggest components, Apple and Google. 

 *The NYSE DOW closed  	LOWER ▼	-38.52	points or ▼	-0.29%	Monday, 13 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,169.43	▼	-38.52	▼	-0.29%	
	Nasdaq____	3,022.52	▲	1.66	▲	0.05%	
	S&P_500__	1,404.11	▼	-1.76	▼	-0.13%	
	30_Yr_Bond	2.739	▲	0.00	▲	0.07%	

NYSE Volume	 2,500,921,750 			 		 	
Nasdaq Volume	 1,362,211,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,831.88	▼	-15.23	▼	-0.26%	
	DAX_____	6,909.68	▼	-34.88	▼	-0.50%	
	CAC_40__	3,426.41	▼	-9.21	▼	-0.27%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,309.50	▲	6.70	▲	0.16%	
	Shanghai_Comp	2,136.08	▼	-32.74	▼	-1.51%	
	Taiwan_Weight	7,436.30	▼	-4.82	▼	-0.06%	
	Nikkei_225____	8,885.15	▼	-6.29	▼	-0.07%	
	Hang_Seng____	20,081.36	▲	53.93	▼	-0.27%	
	Strait_Times___	3,064.81	▲	10.61	▲	0.35%	
	NZX 50 Index__	3,594.96	▲	17.17	▲	0.48%	

http://finance.yahoo.com/news/stocks-fall-economic-malaise-spreads-141251271.html

*Stocks fall as economic malaise spreads to Japan

US stocks fall after Japan reports weak economic growth, adding to fears of Asian slowdown*

By Daniel Wagner

U.S. stocks fell Monday as evidence piled up that the global economic slowdown is dragging on Asia. 

The losses broke the longest winning streak for the Standard & Poor's 500 index since December 2010. The index had risen for six straight days. 

Japan's economy grew in the second quarter at a 1.4 percent annual rate, slower than many analysts had expected. Last week, China released dismal figures on retail sales and exports in July. Traders had hoped Beijing would roll out stimulus measures over the weekend. That did not happen. 

Slower growth in Asia worries investors because Asia's economic endurance has helped offset weakness in the U.S. and Europe in recent years. Exports from China and Japan are declining as Europe's economic woes hurt consumer confidence there. 

"What's happened is the law of gravity is starting to hit," said Doug Cote, chief market strategist at ING Investment Management. Japan is volatile because it is still recovering from last year's massive earthquake and tsunami, he said, and China's growth is slowing sharply. 

Yet stocks, bonds and most other investments are all up for the year, Cote noted. He said the markets have been "pricing in Armageddon when clearly things are much better than that." Cote expects stocks to resume their upward trend as fears about the global economy dissipate. 

The Dow Jones industrial average closed down 38.52 points at 13,169.43. The S&P 500 declined 1.76 to 1,404.11. The Dow is still up 7.8 percent for the year, the S&P 11.7 percent. 

The S&P 500 and Dow have risen every week for the past five weeks. The S&P 500 last wrapped up a five-week climb in mid-March. The Dow hasn't done so since last October. 

Mondays, however, have brought mostly losses for the market in recent weeks. The Dow has fallen for 10 out of the past 11 Mondays, and the S&P 500 has finished down five of the last six. 

The Nasdaq composite index rose 1.66 points to 3,022.52. The index was helped by solid gains for two of its biggest components, Apple and Google. 

Google rose 2.8 percent after announcing that it would cut 20 percent of the staff at Motorola Mobility, the struggling mobile phone maker it acquired in May. Motorola hasn't had a hit product since it introduced the Razr in 2005. Google's stock rose $18.01 to $660.01. Apple rose $8.30 to $630. 

Groupon Inc. plunged in after-market electronic trading after the daily deals website said its revenue fell short of analysts' forecasts. Groupon was down $1.41, or 18.7 percent, at $6.14 as of 5:10 p.m. EDT. 

Most Asian and European markets closed lower. Stocks edged higher in Spain. Many traders believe that the European Central Bank will take a more active role in fighting the region's debt crisis by reducing borrowing costs for Spain, Italy and others. 

Monetary authorities in the U.S. and China also are believed to be weighing plans to boost growth. Central banks have been hesitant so far to get involved with an economy that may be on the cusp of a rebound. They are mindful, however, of the effect that an achingly slow recovery has on businesses and consumers. 

China revealed Friday that export growth in July plunged to just 1 percent from 11.3 percent as recently as the prior month. That was well below forecasts of about 5 percent. 

The lack of global demand is trimming revenue for U.S. corporations. Many are cutting costs to limit declines in net income. 

Investors had divergent reactions to two major asset sales by energy giant BP: 

”” Tesoro Corp. rose 9.5 percent, the most in the S&P 500 index, after saying it will pay $2.5 billion cash for a California refinery, pipelines, storage terminals and Arco-branded retail outlets in the Southwest. Tesoro's stock jumped $3.37 to $38.87. 

”” Eagle Rock Energy Partners fell 2.7 percent after the company agreed to buy two BP gas processing plants in Texas for $227.5 million in cash. The stock fell 24 cents to $8.72. 

Among the other big gainers, Sears Holdings Corp. shot up $2.94, or 5.7 percent, to $54.36. The department store chain announced plans to spin off its Hometown and Outlet stores and some hardware stores into a separate, public company.


----------



## bigdog

Source: http://finance.yahoo.com 

Shoppers are starting to spend, but business owners aren't so sure their customers will keep coming back. 

These conflicting signals confused investors, who first bought stocks and then sold them as the day progressed Tuesday. It didn't help that there were fewer stock traders in the market as is common during the summer months, which led to lower than usual trading volume. 

The Dow Jones industrial average closed up 2.71 points at 13,172.14. It was up as much as 53 points at midday. The broader Standard & Poor's 500 index lost 0.18 point to 1,403.93 and the Nasdaq composite index fell 5.54 points to 3,016.98. 

Earlier, investors were energized by a surprise gain in retail sales in July. That report provided evidence that American shoppers are still spending even as their counterparts in Europe and Asia slow down. 

However, another report showed that U.S. companies weren't restocking their shelves or their warehouses fast enough, a signal that they believed shoppers weren't going to continue spending. 

U.S. retail sales rose in July by the largest amount in five months as Americans spent more on cars, furniture and clothes. The 0.8 percent gain was better than analysts were expecting and showed that U.S. consumers spend at stores after cutting back in the April to June period. 

 *The NYSE DOW closed  	HIGHER ▲	2.71	points or ▲	0.02%	Tuesday, 14 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,172.14	▲	2.71	▲	0.02%	
	Nasdaq____	3,016.98	▼	-5.54	▼	-0.18%	
	S&P_500__	1,403.93	▼	-0.18	▼	-0.01%	
	30_Yr_Bond	2.825	▲	0.09	▲	3.14%	

NYSE Volume	 2,937,723,250 			 		 	
Nasdaq Volume	 1,574,072,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,864.78	▲	32.90	▲	0.56%	
	DAX_____	6,974.39	▲	64.71	▲	0.94%	
	CAC_40__	3,450.27	▲	23.86	▲	0.70%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,317.40	▲	7.90	▲	0.18%	
	Shanghai_Comp	2,142.52	▲	6.45	▲	0.30%	
	Taiwan_Weight	7,479.25	▲	42.95	▲	0.58%	
	Nikkei_225____	8,929.88	▲	44.73	▲	0.50%	
	Hang_Seng____	20,291.68	▲	53.93	▲	1.05%	
	Strait_Times___	3,087.84	▲	23.03	▲	0.75%	
	NZX 50 Index__	3,608.88	▲	13.92	▲	0.39%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks lose steam after confusing economic reports

Stocks mostly lower as excitement over retail sales gains fades at end of a light trading day*

By Pallavi Gogoi

Shoppers are starting to spend, but business owners aren't so sure their customers will keep coming back. 

These conflicting signals confused investors, who first bought stocks and then sold them as the day progressed Tuesday. It didn't help that there were fewer stock traders in the market as is common during the summer months, which led to lower than usual trading volume. 

The Dow Jones industrial average closed up 2.71 points at 13,172.14. It was up as much as 53 points at midday. The broader Standard & Poor's 500 index lost 0.18 point to 1,403.93 and the Nasdaq composite index fell 5.54 points to 3,016.98. 

Earlier, investors were energized by a surprise gain in retail sales in July. That report provided evidence that American shoppers are still spending even as their counterparts in Europe and Asia slow down. 

However, another report showed that U.S. companies weren't restocking their shelves or their warehouses fast enough, a signal that they believed shoppers weren't going to continue spending. 

U.S. retail sales rose in July by the largest amount in five months as Americans spent more on cars, furniture and clothes. The 0.8 percent gain was better than analysts were expecting and showed that U.S. consumers spend at stores after cutting back in the April to June period. 

JJ Kinahan, a strategist at online broker TD Ameritrade, said the increase wasn't enough to justify a significant upward move in the stock market. 

"Consumers are still cautious," Kinahan said. "Even numbers that are marginally better look good when compared to a trough." 

Investors did sell low-risk assets, sending the yield on the benchmark 10-year Treasury note up to 1.73 percent from 1.66 percent late Monday. 

Stocks were held back by a report that U.S. companies barely increased their inventories in June. The slower restocking trend could act as a drag on overall economic growth. When businesses place fewer orders, factory production slows. 

"The data points to the fact that the economy is stabilizing at a lower level," said Peter Cardillo, chief market economist at investment bank Rockwell Global Capital. "While the economy isn't slipping further, it leaves open the possibility of the Fed's support for the economy to grow at a better rate." 

Many economists believe the Federal Reserve will try to stimulate the economy by launching another program of buying government bonds and mortgage-backed securities to keep interest rates low. They will be closely watching Fed Chairman Ben Bernanke's speech on Aug. 31 at an annual economic conference in Jackson Hole, Wyo. 

With most European leaders and Washington away on vacation, there hasn't been much news to move the market. In the last seven trading days the Dow's biggest move was a 51-point gain on Aug. 7. As is typical of late summer months, trading volumes have also been light, averaging between two and three billion shares a day, as opposed to four and five billion during the rest of the year. 

Home Depot jumped $1.89 to $54.71. The world's biggest home-improvement retailer posted a 12 percent jump in net income and increased its earnings forecast for the entire year. Home Depot's fortunes are closely tied to the housing market, which has been improving. On Thursday, the Department of Commerce releases the housing starts and building permits report for July. 

The number of declining stocks narrowly outpaced rising ones on the New York Stock Exchange. Trading volume was very light at 2.9 billion shares. 

Among other stocks that also made big moves: 

”” Groupon plummeted 27 percent. The online coupon company's stock closed at an all-time low of $5.51, down $2.04 after its sales growth fell short of expectations partly due to worsening conditions in Europe. 

”” Estee Lauder rose $5.12, or 9 percent, to $60.13. The beauty company, whose brands include MAC and Aveda, reported results that topped Wall Street expectations. The company also raised its revenue forecast for the year. 

”” NCR Corp. fell close to 10 percent following allegations that the ATM maker has violated sanctions and a federal corruption law by operating a subsidiary in Syria and working with blacklisted banks in the country. NCR's stock was off $2.47 at $22.65.


----------



## bigdog

Source: http://finance.yahoo.com 

Signs that the U.S. economic recovery is advancing, albeit slowly, sent stocks bouncing up and down in narrow ranges for much of the day Wednesday. 

The Dow Jones industrial average closed with a loss of 7.36 points at 13,164.78. The broader Standard & Poor's 500 index was up 1.60 points at 1,405.53 and the Nasdaq composite rose 13.95 points to 3,030.93. 

U.S. industrial production increased last month as factories made more cars, computers and airplanes, according to the Federal Reserve. 

It was a sign that manufacturing is recovering after a weak spring. Also, consumer prices were unchanged in July from June, as a small drop in energy costs offset slightly higher food prices. The consumer price index hasn't changed since March, which means that inflation is in check. 

Lower inflation gives the Federal Reserve more leeway to launch new programs intended to rekindle the economy. The Fed signaled at a meeting in late July that it is ready to act if growth and hiring stays weak. 

Recent reports have suggested that the economy improved somewhat in July. Employers created the most jobs in five months, while consumers spent a little more at stores after three months of declines. 

Many investors wonder if the economy is fragile enough to create the sense of urgency for policy makers to act proactively. The slightly better outlook for the economy could prompt the Fed to hold off on taking action when its policy committee next meets in September. 

"We're in a period of very slow growth, though interest rates are low, and very little inflation," said David Kotok, chief investment officer at Cumberland Advisors. "Unless the U.S. economy goes into a swoon and there is no pick up in retail sales and deterioration in jobs growth or major shocks from Europe and China, the Fed will not take any action for now." 

The bond market is betting that the Fed is not likely to act. Investors have been selling low-risk U.S. government bonds, sending the yield on the benchmark 10-year Treasury note up to 1.81 percent Wednesday. That's up from 1.73 percent Tuesday and 1.66 percent late Monday	 

 *The NYSE DOW closed  	LOWER ▼	-7.36	points or ▼	-0.06%	Wednesday, 15 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,164.78	▼	-7.36	▼	-0.06%	
	Nasdaq____	3,030.93	▲	13.95	▲	0.46%	
	S&P_500__	1,405.53	▲	1.60	▲	0.11%	
	30_Yr_Bond	2.914	▲	0.09	▲	3.15%	

NYSE Volume	 2,657,326,000 			 		 	
Nasdaq Volume	 1,550,615,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,833.04	▼	-31.74	▼	-0.54%	
	DAX_____	6,946.80	▼	-27.59	▼	-0.40%	
	CAC_40__	3,449.20	▼	-1.07	▼	-0.03%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,307.00	▼	-10.40	▼	-0.24%	
	Shanghai_Comp	2,118.94	▼	-23.58	▼	-1.10%	
	Taiwan_Weight	7,467.74	▼	-11.51	▼	-0.15%	
	Nikkei_225____	8,925.04	▼	-4.84	▼	-0.05%	
	Hang_Seng____	20,052.29	▲	53.93	▼	-1.18%	
	Strait_Times___	3,062.11	▼	-25.73	▼	-0.83%	
	NZX 50 Index__	3,631.19	▲	22.30	▲	0.62%	

http://finance.yahoo.com/news/stocks-mostly-higher-signs-economic-201138313.html

*Stocks mostly higher on signs of economic growth

Stocks end mostly higher after signs that the US economy is growing, albeit slowly*

By Pallavi Gogoi 

Signs that the U.S. economic recovery is advancing, albeit slowly, sent stocks bouncing up and down in narrow ranges for much of the day Wednesday. 

The Dow Jones industrial average closed with a loss of 7.36 points at 13,164.78. The broader Standard & Poor's 500 index was up 1.60 points at 1,405.53 and the Nasdaq composite rose 13.95 points to 3,030.93. 

U.S. industrial production increased last month as factories made more cars, computers and airplanes, according to the Federal Reserve. 

It was a sign that manufacturing is recovering after a weak spring. Also, consumer prices were unchanged in July from June, as a small drop in energy costs offset slightly higher food prices. The consumer price index hasn't changed since March, which means that inflation is in check. 

Lower inflation gives the Federal Reserve more leeway to launch new programs intended to rekindle the economy. The Fed signaled at a meeting in late July that it is ready to act if growth and hiring stays weak. 

Recent reports have suggested that the economy improved somewhat in July. Employers created the most jobs in five months, while consumers spent a little more at stores after three months of declines. 

Many investors wonder if the economy is fragile enough to create the sense of urgency for policy makers to act proactively. The slightly better outlook for the economy could prompt the Fed to hold off on taking action when its policy committee next meets in September. 

"We're in a period of very slow growth, though interest rates are low, and very little inflation," said David Kotok, chief investment officer at Cumberland Advisors. "Unless the U.S. economy goes into a swoon and there is no pick up in retail sales and deterioration in jobs growth or major shocks from Europe and China, the Fed will not take any action for now." 

The bond market is betting that the Fed is not likely to act. Investors have been selling low-risk U.S. government bonds, sending the yield on the benchmark 10-year Treasury note up to 1.81 percent Wednesday. That's up from 1.73 percent Tuesday and 1.66 percent late Monday. 

As investors shuffled their money around, the Russell 2000 index of small stocks gained the most of the major indexes, 0.9 percent. The S&P was up 0.1 percent, the Nasdaq 0.5 percent. 

In the last few weeks of the summer, trading volumes in the stock market have been low. On Wednesday, the number of shares changing hands on the New York Stock Exchange totaled just 2.6 billion, compared to an average of 4 billion on an average day. Investors may also be holding off on taking aggressive positions ahead of a meeting of the U.S. Federal Reserve in Wyoming at the end of this month. 

On Wednesday, the Dow traded within a range of just 54 points. 

U.S. earnings were mixed. 

Target rose $1.12 to $64.50 after the retailer reported earnings that beat analysts' expectations and raised its profit forecast for the year. Target is preparing its first expansion out of the U.S., into Canada. 

Deere plummeted $5.03 to $75.10 after the agriculture machinery maker reported results that were well below Wall Street's expectations. The company attributed its poor results to a slowing global economy and the effects of a prolonged U.S. drought. Deere also cut its revenue forecast for the year. 

Staples dropped $1.96 to $11.49 after the office and school supplies store said its income dropped 32 percent following weak sales in North America and Europe. The results fell short of analysts' expectations and the company cut its full-year earnings forecast. 

Abercrombie & Fitch struggled to sell its preppy jeans and T-shirts in the previous quarter, but its results weren't as bad as analysts had forecast. The teen fashion leader also laid out plans for updating its fashions. The stock soared 9 percent, or $2.90, to $35.23.


----------



## bigdog

Source: http://finance.yahoo.com 

Encouraging earnings from Cisco and hopeful signs in a housing report lifted the stock market Thursday. The gains nudged the Standard & Poor's 500 index near the four-year high it reached earlier this year. 

Cisco Systems, the world's largest maker of computer networking equipment, led the 30 stocks in the Dow Jones industrial average, surging 10 percent. Cisco beat profit expectations late Wednesday and raised its quarterly dividend to 14 cents per share from 8 cents. Cisco gained $1.67 to $19.02. 

Before the market opened Thursday, the Commerce Department reported that construction of single-family homes and apartments dipped 1.1 percent in July compared with June. 

But market analysts seized on another number: Building permits jumped to 812,000, the most since August 2008 and a hint of stronger construction in coming months. 

"I think the housing numbers really got investors' attention," said Tim Speiss, chairman of the personal wealth advisers practice at EisnerAmper. 

"Presumably, ground is going to get broken. Houses are going to get built," he said. "It feeds other parts of the economy. A house isn't just sticks and bricks. It's everything else that goes into building a house." 

The report helped push the S&P and Dow near their highest closing levels since 2007. 

The Standard & Poor's 500 index gained 9.98 points to close at 1,415.51, less than four points shy of its April 2 high. The Dow rose 85.33 points to 13,250.11, an increase of 0.6 percent and 29 points away from its May 1 peak of 13,279. 

Wal-Mart Stores trailed other Dow stocks. The world's largest retail chain sank 3 percent after it posted quarterly net income and sales that fell short of what analysts had predicted. Its stock lost $2.30 to $72.15. 

In other trading, the Nasdaq composite index rose 31.46 points to 3,062.39. 

Facebook fell 6 percent on the first day that its early investors and a handful of founders were free to sell their stock. In all, 271 million shares can be sold, according to Facebook's regulatory filings. The social networking company lost $1.33 to $19.87. 

The S&P 500 has rallied more than 5 percent in the last three weeks, with the bulk of the gains made on a few days in late July and early August. The first jolt was a pledge to protect the euro currency by the head of the European Central Bank, the second a report that showed stronger-than-expected U.S. hiring last month. 	 

 *The NYSE DOW closed  	HIGHER ▲	85.33	points or ▲	0.65%	Thursday, 16 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,250.11	▲	85.33	▲	0.65%	
	Nasdaq____	3,062.39	▲	31.46	▲	1.04%	
	S&P_500__	1,415.51	▲	9.98	▲	0.71%	
	30_Yr_Bond	2.956	▲	0.04	▲	1.44%	

NYSE Volume	 3,107,818,000 			 		 	
Nasdaq Volume	 1,948,743,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,834.51	▲	1.47	▲	0.03%	
	DAX_____	6,996.29	▲	49.49	▲	0.71%	
	CAC_40__	3,480.49	▲	31.29	▲	0.91%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,353.50	▲	46.50	▲	1.08%	
	Shanghai_Comp	2,112.20	▼	-6.75	▼	-0.32%	
	Taiwan_Weight	7,490.21	▲	22.47	▲	0.30%	
	Nikkei_225____	9,092.76	▲	167.72	▲	1.88%	
	Hang_Seng____	19,962.95	▲	53.93	▼	-0.45%	
	Strait_Times___	3,062.89	▲	0.78	▲	0.03%	
	NZX 50 Index__	3,616.20	▼	-14.99	▼	-0.41%	

http://finance.yahoo.com/news/p-500-creeps-near-four-185143015.html

*S&P 500 creeps near four-year high; Cisco surges

S&P 500 and Dow creep closer to four-year highs; Cisco leads Dow with stronger earnings*

By Matthew Craft 

Encouraging earnings from Cisco and hopeful signs in a housing report lifted the stock market Thursday. The gains nudged the Standard & Poor's 500 index near the four-year high it reached earlier this year. 

Cisco Systems, the world's largest maker of computer networking equipment, led the 30 stocks in the Dow Jones industrial average, surging 10 percent. Cisco beat profit expectations late Wednesday and raised its quarterly dividend to 14 cents per share from 8 cents. Cisco gained $1.67 to $19.02. 

Before the market opened Thursday, the Commerce Department reported that construction of single-family homes and apartments dipped 1.1 percent in July compared with June. 

But market analysts seized on another number: Building permits jumped to 812,000, the most since August 2008 and a hint of stronger construction in coming months. 

"I think the housing numbers really got investors' attention," said Tim Speiss, chairman of the personal wealth advisers practice at EisnerAmper. 

"Presumably, ground is going to get broken. Houses are going to get built," he said. "It feeds other parts of the economy. A house isn't just sticks and bricks. It's everything else that goes into building a house." 

The report helped push the S&P and Dow near their highest closing levels since 2007. 

The Standard & Poor's 500 index gained 9.98 points to close at 1,415.51, less than four points shy of its April 2 high. The Dow rose 85.33 points to 13,250.11, an increase of 0.6 percent and 29 points away from its May 1 peak of 13,279. 

Wal-Mart Stores trailed other Dow stocks. The world's largest retail chain sank 3 percent after it posted quarterly net income and sales that fell short of what analysts had predicted. Its stock lost $2.30 to $72.15. 

In other trading, the Nasdaq composite index rose 31.46 points to 3,062.39. 

Facebook fell 6 percent on the first day that its early investors and a handful of founders were free to sell their stock. In all, 271 million shares can be sold, according to Facebook's regulatory filings. The social networking company lost $1.33 to $19.87. 

The S&P 500 has rallied more than 5 percent in the last three weeks, with the bulk of the gains made on a few days in late July and early August. The first jolt was a pledge to protect the euro currency by the head of the European Central Bank, the second a report that showed stronger-than-expected U.S. hiring last month. 

Steve Wood, chief market strategist for Russell Investments, said the stock market may simply tread water until the end of the month, when Federal Reserve Chairman Ben Bernanke gives a speech at Jackson Hole, Wyo. Investors expect Bernanke's speech will clarify whether the Fed plans to take additional steps to help the economy. 

Markets often languish in August. Fewer shares are traded in late summer as trading desks remain short-staffed until people return from vacation after the Labor Day holiday. Without any major economic news, trading volume usually dries up and stock indexes appear sluggish, as if stuck in their beach chairs. 

On Thursday, about 3.1 billion shares were traded on the New York Stock Exchange. Three months ago, daily trading volume on the NYSE averaged 3.8 billion. 

The housing report also helped push the price of crude oil up $1.27 per barrel to $95.60 in New York. It has risen almost 3 percent in less than a week. 

Among other stocks making big moves Thursday: 

”” Agilent Technologies slid 8 percent, the worst drop in the S&P 500. Agilent said a slump in global demand for its high-tech measuring products helped tug net income down 26 percent. Its stock lost $3.33 to $37.15. 

”” PetSmart Inc. climbed nearly 5 percent after the pet products store posted better earnings than analysts' forecasts. PetSmart's quarterly net income rose 28 percent, and it raised its annual profit forecast for the second time this year. The company's stock added $3.09 to $70.53.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks resembled summer vacationers on Friday, rising not-too-impressively in the morning and then mostly laying around for the rest of the day. 

Positive news from retailers was the main reason U.S. indexes posted small gains. Apple helped too by hitting a new high. 

Traders in both the U.S. and Europe are on vacation, so volumes were low. And the dog days continued for Facebook. A 4 percent decline left it shares at about half the price of its May initial public offering. 

The Dow Jones industrial average rose 25.09 points to close at 13,275.20. The Standard & Poor's 500 index rose 2.65 points to close at 1,418.16. The Nasdaq rose 14.20 points to close at 3,076.59. 

The modest gains put some indexes close to their highs for the year. The Dow is now within four points of 13,279, its high for the year set on May 1. The S&P 500 is within one point of its four-year high set on April 1. 

The Dow has now risen eight out of the last 11 days and finished the week up a half-percent. The Dow is sporting a gain for the year of almost 8.7 percent for the year, while the S&P 500 is up almost 12.7 percent. 

Next week is likely to be more eventful. Investors will get Chinese housing reports, minutes from a closely-watched Federal Reserve meeting, and jobless claims. And Europe's problems, which were mostly off center stage in recent days, return front-and-center as German Chancellor Angela Merkel meets in Berlin with Greek Prime Minister Antonis Samaras to talk about progress in overcoming Greece's debt crisis.

 *The NYSE DOW closed  	HIGHER ▲	25.09	points or ▲	0.19%	Friday, 17 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,275.20	▲	25.09	▲	0.19%	
	Nasdaq____	3,076.59	▲	14.20	▲	0.46%	
	S&P_500__	1,418.16	▲	2.65	▲	0.19%	
	30_Yr_Bond	2.934	▼	-0.02	▼	-0.74%	

NYSE Volume	 2,919,487,500 			 		 	
Nasdaq Volume	 1,644,240,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,852.42	▲	17.91	▲	0.31%	
	DAX_____	7,040.88	▲	44.59	▲	0.64%	
	CAC_40__	3,488.38	▲	7.89	▲	0.23%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,393.80	▲	40.30	▲	0.93%	
	Shanghai_Comp	2,114.89	▲	2.69	▲	0.13%	
	Taiwan_Weight	7,467.92	▼	-22.29	▼	-0.30%	
	Nikkei_225____	9,162.50	▲	69.74	▲	0.77%	
	Hang_Seng____	20,116.07	▲	53.93	▲	0.77%	
	Strait_Times___	3,062.11	▼	-0.78	▼	-0.03%	
	NZX 50 Index__	3,639.66	▲	23.46	▲	0.65%	

http://finance.yahoo.com/news/stocks-slightly-strong-retail-results-143321058.html

*Stocks up slightly on strong retail results

US stocks rise slightly after retailers post strong earnings; Facebook decline continues*

By Joshua Freed

Stocks resembled summer vacationers on Friday, rising not-too-impressively in the morning and then mostly laying around for the rest of the day. 

Positive news from retailers was the main reason U.S. indexes posted small gains. Apple helped too by hitting a new high. 

Traders in both the U.S. and Europe are on vacation, so volumes were low. And the dog days continued for Facebook. A 4 percent decline left it shares at about half the price of its May initial public offering. 

The Dow Jones industrial average rose 25.09 points to close at 13,275.20. The Standard & Poor's 500 index rose 2.65 points to close at 1,418.16. The Nasdaq rose 14.20 points to close at 3,076.59. 

The modest gains put some indexes close to their highs for the year. The Dow is now within four points of 13,279, its high for the year set on May 1. The S&P 500 is within one point of its four-year high set on April 1. 

The Dow has now risen eight out of the last 11 days and finished the week up a half-percent. The Dow is sporting a gain for the year of almost 8.7 percent for the year, while the S&P 500 is up almost 12.7 percent. 

Next week is likely to be more eventful. Investors will get Chinese housing reports, minutes from a closely-watched Federal Reserve meeting, and jobless claims. And Europe's problems, which were mostly off center stage in recent days, return front-and-center as German Chancellor Angela Merkel meets in Berlin with Greek Prime Minister Antonis Samaras to talk about progress in overcoming Greece's debt crisis. 

"Next week, you have somebody say something that no one expects, in thin trading it could really move markets around," said John Canally, investment strategist at LPL Financial. 

Strong retail earnings and outlooks drove Friday's gains. Gap Inc. shares rose 4.8 percent after it boosted its outlook and posted a 29 percent jump in net income. That suggests the operator of Gap, Old Navy and Banana Republic stores is finally on the way to a turnaround. 

Shares of Ann Inc., the parent of retailer Ann Taylor, jumped 20 percent after its second-quarter profit rose 24 percent. Foot Locker rose 1.7 percent after quarterly profits leaped 59 percent, boosted by higher sales, cost controls and a small tax-related gain. 

A few retailers did struggle. Sears Holdings Corp. fell 1.3 percent, giving back some of Thursday's big gain. 

Expectations for retailers were low, but they beat them, said Lawrence Creatura, portfolio manager at Federated Investors. 

"Nobody going into the summer expected a vibrant consumer, so expectations were muted," he said. 

Technology stocks saw both highs and lows on Friday. 

Apple hit an all-time high, rising almost 2 percent to $648.11. It now has a market value of about $608 billion, almost 50 percent higher than No. 2 Exxon Mobil Corp. at $408 billion. 

But declines continued for Facebook and Groupon, the online coupon company. 

Facebook closed at $19, about half the value of its initial public offering price of $38. Investors are worried that mobile ads won't bring in as much money as those seen on desktop computers. And Facebook's short-term problems include the expiration of a lock-up period on Thursday that had kept early investors from selling. 

Groupon lost another 5 percent to close at $4.75. It has now set a new low every day since Tuesday. Its woes include foreign-exchange rates in Europe and a worry that its business isn't very hard for competitors to copy. 

Health care stocks declined a half-percent, the biggest drop among the 10 industry groups in the S&P 500. Pharmaceutical companies led the decline. Pfizer fell 1 percent, and Merck dropped 1.4 percent. 

Computer chip maker Marvell Technology Group Ltd. stock dropped 14 percent after a revenue decline sliced its quarterly net income by more than half. Its CEO cited a slowing economy for the trouble. 

Global markets edged higher after German Chancellor Angela Merkel gave a new pledge of support for the euro. On Thursday she said that "we feel committed to do everything we can to maintain the common currency." Germany is Europe's economic powerhouse, so its support is critical to the euro's survival. The German DAX rose 0.6 percent

6213


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks slipped Monday in one of the quietest trading sessions of the year. Worries about European debt crept up again, and Apple became the most valuable company of all time. 

The Dow Jones industrial average fell 3.56 points, or 0.3 percent, at 13,271.64. The Standard & Poor's 500 fell a sliver, 0.03 point, to 1,418.13. The Nasdaq composite index fell 0.38 point to 3,076.21. 

With many traders and investors on vacation, volume on the New York Stock Exchange was light, just 2.7 billion shares traded. The average this year is about 1 billion more. 

In a monthly report, the German central bank reiterated doubts about having the European Central Bank buy bonds to help struggling European economies. It stressed that such purchases could carry "substantial risks." 

Earlier this month, stocks rallied after ECB President Mario Draghi said the bank might buy bonds of some European countries to lower their borrowing costs. German Chancellor Angela Merkel also seemed to soften her stance on the idea. 

"We're getting mixed messages at best coming from Europe," said Jim Russell, chief equity strategist at U.S. Bank Wealth Management. "Investors are on the sidelines, and they're still a little scared." 

Apple, the most valuable company in the world, became the most valuable in history. It hit a market value of $623 billion, surpassing Microsoft's record from 1999. Apple is worth almost twice as much the next most valuable company, Exxon Mobil. 

Apple stock rose $17.04, or 2.6 percent, to $665.15. 

Stocks had been inching up for six weeks. On Friday, both the Dow and the S&P closed just below four-year highs. 

Monday's drop was the 11th trading day in a row of moves of less than 1 percent for the S&P, according to FactSet, a financial data provider. In same period last year, amid fears the U.S. would default on its debt and a possible second recession, the S&P moved up or down by 1 percent or more roughly every other day. 

Other stocks moving sharply Monday included Lowe's, the world's No. 2 home improvement store. It missed earnings expectations and lowered its outlook for the year. The stock fell 6 percent. 

 *The NYSE DOW closed  	LOWER ▼	-3.56	points or ▼	-0.03%	Monday, 20 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,271.64	▼	-3.56	▼	-0.03%	
	Nasdaq____	3,076.21	▼	-0.38	▼	-0.01%	
	S&P_500__	1,418.13	▼	-0.03	▲	0.00%	
	30_Yr_Bond	2.927	▼	-0.01	▼	-0.24%	

NYSE Volume	 2,771,581,500 			 		 	
Nasdaq Volume	 1,456,913,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,824.37	▼	-28.05	▼	-0.48%	
	DAX_____	7,033.68	▼	-7.20	▼	-0.10%	
	CAC_40__	3,480.58	▼	-7.80	▼	-0.22%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,391.90	▼	-1.90	▼	-0.04%	
	Shanghai_Comp	2,106.96	▼	-7.93	▼	-0.38%	
	Taiwan_Weight	7,431.91	▼	-36.01	▼	-0.48%	
	Nikkei_225____	9,171.16	▲	8.66	▲	0.09%	
	Hang_Seng____	20,104.27	▲	53.93	▼	-0.06%	
Strait_Times___	3,062.11	▲	0.00	▲	0.00% closed for holiday
	NZX 50 Index__	3,661.09	▲	21.43	▲	0.59%	

http://finance.yahoo.com/news/stock...1lYjA4LTExZTEtYmJlZi00MTgyYmE5NjlkZDc-;_ylv=3

*Stocks slip, but Apple sets a record

US stocks slip; Apple becomes most valuable company of all time*

By Bernard Condon

Stocks slipped Monday in one of the quietest trading sessions of the year. Worries about European debt crept up again, and Apple became the most valuable company of all time. 

The Dow Jones industrial average fell 3.56 points, or 0.3 percent, at 13,271.64. The Standard & Poor's 500 fell a sliver, 0.03 point, to 1,418.13. The Nasdaq composite index fell 0.38 point to 3,076.21. 

With many traders and investors on vacation, volume on the New York Stock Exchange was light, just 2.7 billion shares traded. The average this year is about 1 billion more. 

In a monthly report, the German central bank reiterated doubts about having the European Central Bank buy bonds to help struggling European economies. It stressed that such purchases could carry "substantial risks." 

Earlier this month, stocks rallied after ECB President Mario Draghi said the bank might buy bonds of some European countries to lower their borrowing costs. German Chancellor Angela Merkel also seemed to soften her stance on the idea. 

"We're getting mixed messages at best coming from Europe," said Jim Russell, chief equity strategist at U.S. Bank Wealth Management. "Investors are on the sidelines, and they're still a little scared." 

Apple, the most valuable company in the world, became the most valuable in history. It hit a market value of $623 billion, surpassing Microsoft's record from 1999. Apple is worth almost twice as much the next most valuable company, Exxon Mobil. 

Apple stock rose $17.04, or 2.6 percent, to $665.15. 

Stocks had been inching up for six weeks. On Friday, both the Dow and the S&P closed just below four-year highs. 

Monday's drop was the 11th trading day in a row of moves of less than 1 percent for the S&P, according to FactSet, a financial data provider. In same period last year, amid fears the U.S. would default on its debt and a possible second recession, the S&P moved up or down by 1 percent or more roughly every other day. 

Other stocks moving sharply Monday included Lowe's, the world's No. 2 home improvement store. It missed earnings expectations and lowered its outlook for the year. The stock fell 6 percent. 

The health insurer Aetna announced it would buy Coventry Health Care for $5.7 billion as the insurance industry realigns itself to better navigate the health care overhaul. Aetna rose $2.14, or nearly 6 percent, to $40.18. Coventry climbed $7.10, or 20 percent, to $42.04. 

The deal follows the $4.46 billion buyout last month of another insurer by WellPoint Inc., and last year's acquisition worth nearly $4 billion by Cigna of HealthSpring as it grabbed for a share of Medicare revenue. 

Best Buy slid 10 percent after rejecting an offer from its founder and largest shareholder to take the electronics retailer private. The company named Hubert Joly, the former head of global hospitality company Carlson and a turnaround expert, as CEO Monday. 

Facebook gained 96 cents, or 5 percent, to $20.01, following a slide last week after some insiders were able to sell stock for the first time since the company's public trading debut in May at an offering price of $38. 

In the S&P 500, six of the 10 main industry groups fell, led by a 0.8 percent drop in telecommunications stocks. 

In Europe, stocks fell. Greek stocks fell 2 percent. Spain's main index was off 1 percent. 

Investors are on edge this week because of a series of meetings among European leaders to discuss the debt crisis. The first came Monday when the Greek foreign minister met with his German counterpart in Berlin to discuss Greek spending cuts necessary for the country to continue receiving bailout money.


----------



## bigdog

Source: http://finance.yahoo.com 

The Standard & Poor's 500 index touched its highest point in more than four years Tuesday, helped by more talk that the European Central Bank may buy struggling countries' bonds. But a morning rally faded, and stocks ended lower. 

The S&P 500 lost 4.96 points to close at 1,413.17, with bank stocks the only group to record a gain. Earlier in the day, the S&P climbed to 1,426, its highest since May 19, 2008. 

Clark Yingst, chief market analyst at the securities firm Joseph Gunnar, said he thought traders were swayed by reports that the ECB may buy bonds to bring down the borrowing costs of Spain, Italy and other countries. 

Yingst pointed to currency moves and bank stocks as evidence. JPMorgan Chase, Morgan Stanley and other companies with ties to Europe rose more than the overall market. The euro surged 1 percent to $1.246. 

"It's very much a news- and rumor-driven market," Yingst said. 

In other trading, the Dow Jones industrial average fell 68.06 points to 13,203.58, and the Nasdaq composite index lost 8.95 points to 3,067.26. Crude oil hit its highest price in three months, rising $1.32 to $97.58. 

Sean Clark, chief investment officer at Clark Capital Management Group, an investment advisory firm, saw no major news driving the market. Trading volume has been light in recent days. 

Clark said that part of the explanation for the stock market's steady climb this month is that money managers are afraid of missing out on the rally. 

"A lot of fund managers have underperformed this year, and I think they're feeling pressure," he said. "There may have been some panic buying over the last couple of weeks." 

 *The NYSE DOW closed  	LOWER ▼	-68.06	points or ▼	-0.51%	Tuesday, 21 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,203.58	▼	-68.06	▼	-0.51%	
	Nasdaq____	3,067.26	▼	-8.95	▼	-0.29%	
	S&P_500__	1,413.17	▼	-4.96	▼	-0.35%	
	30_Yr_Bond	2.909	▼	-0.02	▼	-0.61%	

NYSE Volume	 3,283,156,000 			 		 	
Nasdaq Volume	 1,585,651,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,857.52	▲	33.15	▲	0.57%	
	DAX_____	7,089.32	▲	55.64	▲	0.79%	
	CAC_40__	3,513.28	▲	32.70	▲	0.94%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,410.80	▲	18.90	▲	0.43%	
	Shanghai_Comp	2,118.27	▲	11.31	▲	0.54%	
	Taiwan_Weight	7,506.81	▲	74.90	▲	1.01%	
	Nikkei_225____	9,156.92	▼	-14.24	▼	-0.16%	
	Hang_Seng____	20,100.09	▲	53.93	▼	-0.02%	
	Strait_Times___	3,065.77	▲	3.66	▲	0.12%	
	NZX 50 Index__	3,687.74	▲	26.65	▲	0.73%	

http://finance.yahoo.com/news/p-touches-highest-level-since-201236037.html

*S&P touches highest level since 2008, then falls

S&P hits highest point since May 2008, then falls; Facebook sinks again*

By Matthew Craft

The Standard & Poor's 500 index touched its highest point in more than four years Tuesday, helped by more talk that the European Central Bank may buy struggling countries' bonds. But a morning rally faded, and stocks ended lower. 

The S&P 500 lost 4.96 points to close at 1,413.17, with bank stocks the only group to record a gain. Earlier in the day, the S&P climbed to 1,426, its highest since May 19, 2008. 

Clark Yingst, chief market analyst at the securities firm Joseph Gunnar, said he thought traders were swayed by reports that the ECB may buy bonds to bring down the borrowing costs of Spain, Italy and other countries. 

Yingst pointed to currency moves and bank stocks as evidence. JPMorgan Chase, Morgan Stanley and other companies with ties to Europe rose more than the overall market. The euro surged 1 percent to $1.246. 

"It's very much a news- and rumor-driven market," Yingst said. 

In other trading, the Dow Jones industrial average fell 68.06 points to 13,203.58, and the Nasdaq composite index lost 8.95 points to 3,067.26. Crude oil hit its highest price in three months, rising $1.32 to $97.58. 

Sean Clark, chief investment officer at Clark Capital Management Group, an investment advisory firm, saw no major news driving the market. Trading volume has been light in recent days. 

Clark said that part of the explanation for the stock market's steady climb this month is that money managers are afraid of missing out on the rally. 

"A lot of fund managers have underperformed this year, and I think they're feeling pressure," he said. "There may have been some panic buying over the last couple of weeks." 

Facebook's stock lost 85 cents to $19.16 after one of its earliest backers, venture capitalist Peter Thiel, sold the bulk of his stake in the social network. Last week was the first time some insiders could sell their shares. Facebook went public in May at twice the current price, $38. 

Major European markets edged up amid hints of progress in calming the debt crisis there. Spain managed to raise $5.4 billion from bond investors at sharply lower interest rates than at the last auction. 

Germany's DAX gained 0.8 percent, and France's CAC-40 rose 0.9 percent. 

Markets have been calm this month. Monday was one of the quietest days of the year, with 2.7 billion shares traded on the New York Stock Exchange. Tuesday was heavier, 3.2 billion shares, but still below this year's average of 3.8 billion. 

Among other stocks making moves: 

”” Urban Outfitters jumped 18 percent. The clothing retailer reported earnings late Monday that beat analysts' forecasts, thanks to stronger sales. The stock surged $5.70 to $36.98. 

”” Best Buy fell 1 percent. The country's largest consumer electronics retailer reported a 90 percent drop in net income during the second quarter, dragged down by restructuring charges and weak sales. The chain is waging a public fight with its co-founder Richard Schulze, who wants to take the company private. Best Buy's stock dropped 25 cents to $17.91 and has lost 12 percent this week. 

”” Barnes & Noble posted a smaller quarterly loss, helped by sales and e-books and surging sales of the "Fifty Shades of Grey" book. The largest traditional bookstore chain still fell 46 cents to $11.88.


----------



## bigdog

Source: http://finance.yahoo.com 

Investors drew some comfort Wednesday from signals that the Federal Reserve is worried about the slow pace of the U.S. economic recovery feels more urgency about providing help. 

Stocks climbed back from lows after minutes from the last major Fed meeting were released. The Standard & Poor's 500 index, down most of the day, eked out a gain of 0.32 point to 1,413.49. 

The Dow Jones industrial average closed down 30.82 at 13,172.76. It was down as much as 83 points earlier. The Nasdaq composite index added 6.41 points to 3,073.67. 

The price of gold rose, as it sometimes does when investors think the Fed is about to pump money into the economy. Gold climbed $14 an ounce to $1,657, its highest level since early May, in trading after the day's official close. 

When investors expect stimulus from the Fed, they sometimes buy gold in anticipation of a weaker dollar or because of inflation fears. 

The minutes, from a meeting July 31 and Aug. 1, showed that "many members" of the Fed's Open Market Committee felt that additional action would be warranted unless the economic recovery shows "substantial and sustainable strengthening." 

The minutes also showed that many officials favored pushing any increase in short-term interest rates beyond the Fed's current target of late 2014. Many economists think the target will be pushed to mid-2015. 

Doug Cote, chief market strategist at ING Investment Management, wondered why the Fed needed to act. He said major economic data recently, including on jobs and consumer spending, have showed the recovery picking up. 

"Why do an extraordinary form of stimulus in a moderately recovering economy?" he said. 

 *The NYSE DOW closed  	LOWER ▼	-30.82	points or ▼	-0.23%	Wednesday, 22 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,172.76	▼	-30.82	▼	-0.23%	
	Nasdaq____	3,073.67	▲	6.41	▲	0.21%	
	S&P_500__	1,413.49	▲	0.32	▲	0.02%	
	30_Yr_Bond	2.825	▼	-0.08	▼	-2.89%	

NYSE Volume	 3,057,732,500 			 		 	
Nasdaq Volume	 1,460,783,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,774.20	▼	-83.32	▼	-1.42%	
	DAX_____	7,017.75	▼	-71.57	▼	-1.01%	
	CAC_40__	3,461.65	▼	-51.63	▼	-1.47%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,403.30	▼	-7.50	▼	-0.17%	
	Shanghai_Comp	2,107.71	▼	-10.56	▼	-0.50%	
	Taiwan_Weight	7,496.58	▼	-10.23	▼	-0.14%	
	Nikkei_225____	9,131.74	▼	-25.18	▼	-0.27%	
	Hang_Seng____	19,887.78	▲	53.93	▼	-1.06%	
	Strait_Times___	3,050.54	▼	-15.23	▼	-0.50%	
	NZX 50 Index__	3,658.38	▼	-29.36	▼	-0.80%	

http://finance.yahoo.com/news/stocks-climb-lows-fed-signals-203908566.html

*Stocks climb from lows after Fed signals help

US stocks climb back from lows as Fed officials hint at action to help economy*

By Pallavi Gogoi

Investors drew some comfort Wednesday from signals that the Federal Reserve is worried about the slow pace of the U.S. economic recovery feels more urgency about providing help. 

Stocks climbed back from lows after minutes from the last major Fed meeting were released. The Standard & Poor's 500 index, down most of the day, eked out a gain of 0.32 point to 1,413.49. 

The Dow Jones industrial average closed down 30.82 at 13,172.76. It was down as much as 83 points earlier. The Nasdaq composite index added 6.41 points to 3,073.67. 

The price of gold rose, as it sometimes does when investors think the Fed is about to pump money into the economy. Gold climbed $14 an ounce to $1,657, its highest level since early May, in trading after the day's official close. 

When investors expect stimulus from the Fed, they sometimes buy gold in anticipation of a weaker dollar or because of inflation fears. 

The minutes, from a meeting July 31 and Aug. 1, showed that "many members" of the Fed's Open Market Committee felt that additional action would be warranted unless the economic recovery shows "substantial and sustainable strengthening." 

The minutes also showed that many officials favored pushing any increase in short-term interest rates beyond the Fed's current target of late 2014. Many economists think the target will be pushed to mid-2015. 

Doug Cote, chief market strategist at ING Investment Management, wondered why the Fed needed to act. He said major economic data recently, including on jobs and consumer spending, have showed the recovery picking up. 

"Why do an extraordinary form of stimulus in a moderately recovering economy?" he said. 

On Wednesday, the National Association of Realtors reported that Americans bought more homes in July than in June and prices rose, evidence of a recovering housing market. The 2.3 percent increase in sales from June was the first gain in three months. 

But the rate of home sales, at 4.47 million annually, was below the pace of April and May and well below the rate of roughly 5.5 million that economists consider healthy. 

"The economic numbers haven't been robust, but they've been better lately," said Stephen Carl, principal and head equity trader at investment bank The Williams Capital Group. 

The dollar fell sharply against most major currencies after the Fed minutes came out. Additional bond purchases by the Fed could push interest rates lower and weaken the dollar. 

The euro rose to $1.2530 in late trading from $1.2467 late Tuesday. The euro jumped as high as $1.2538 after the minutes were released, its highest against the dollar since July 5. 

European markets fell. Eurozone leaders met with their counterparts from Greece, which has asked for more time to meet its debt reduction targets. 

The delay could set up a confrontation with Germany, which has been growing impatient. Germany's key stock index, the DAX, fell 1 percent, and France's CAC 40 slipped 1.5 percent. 

Earlier in the day, Asian markets closed down after Japan posted a trade deficit for July, reversing a year-ago surplus and adding to signs of a global economic slowdown. 

Japan's Nikkei 225 index shed 0.3 percent, while South Korea's Kospi dropped 0.4 percent and mainland China's Shanghai Composite Index slid 0.5 percent. 

Bond traders have become skittish about the Asian slowdown and the debt crisis in Europe. Investors returned to the haven of U.S. Treasurys, sending the yield on the benchmark 10-year down to 1.72 percent from 1.81 percent late Tuesday. 

Riding an improving housing market, high-end homebuilder Toll Brothers reported 46 percent growth in its quarterly net income after delivering more homes at higher prices to its customers. Its stock rose $1.20, close to 4 percent, to $33.01. 

Toll Brothers caters to the luxury sector, which has withstood the economic downturn better than others. Its target market includes households that making more than $100,000 a year, with better credit and more job security. 

The Commerce Department reported last week that applications for building permits rose to their highest level since August 2008, which signals that construction companies are growing more confident about the housing landscape. 

Other homebuilder stocks also made big gains: PulteGroup gained 50 cents, or close to 4 percent, at $13.29 and Lennar rose $1.17, or close to 4 percent, at $32.35. 

Among other stocks making big moves Wednesday: 

”” Dell slumped more than 5 percent and traded near a 52-week low. It was the worst-performing stock in the S&P 500. The computer maker said PC sales remained weak in its fiscal second quarter, and it forecast a disappointing third quarter and lowered its full-year profit forecast. Its stock slid 66 cents to $11.68. 

”” Williams-Sonoma jumped close 12 percent after the kitchen and home store chain reported a 10 percent jump in profit. Its stock rose $4.45 to $42.68. 

”” Fifth Third Bancorp's stock shot to a 52-week high after the Fed allowed the bank to raise its dividend and buy back more of its own stock. The Cincinnati regional bank's stock was up 3 percent to $14.81, a jump of 42 cents. The stock had reached $15.02 in morning trading, a high for the past year. 

”” Discover Financial Services stock gained 4 percent, or $1.43, to $38.43 after announcing a partnership with PayPal. More than 7 million stores that take Discover cards will be able to process PayPal payments beginning next year.


----------



## bigdog

Source: http://finance.yahoo.com 

Nobody ever said reading the Federal Reserve was easy. 

On Wednesday, the Fed appeared to suggest it was closer to taking additional steps to help the U.S. economy. Stocks rallied as a result and finished the day well off their lows. 

But the prospect of Fed help seemed much less certain Thursday, and stocks fell. The Dow Jones industrial average lost 115.30 points to close at 13,057.46 ”” the biggest loss in more than a month and the Dow's fourth straight down day. 

James Bullard, president of the Fed's St. Louis bank, told CNBC that the minutes from the July 31-Aug. 1 meeting were "stale" because the economy had picked up since then. If it becomes "a bit stronger," he said, the Fed will hold off. 

"He poured some water on the fire of the QE3 talk," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research in Cincinnati, using market slang for a Fed program of bond-buying to help the economy. 

But another Fed regional official, Chicago president Charles Evans, told reporters in Beijing that he supports further action by the Fed, an apparent affirmation of the Fed minutes. 

The government reported that claims for unemployment insurance rose last week, the second straight increase, which also hurt stocks. The Standard & Poor's 500 index fell 11.41 points to 1,402.08. The Nasdaq composite index fell 20.27 to 3,053.40. 

 *The NYSE DOW closed  	LOWER ▼	-115.30	points or ▼	-0.88%	Thursday, 23 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,057.46	▼	-115.30	▼	-0.88%	
	Nasdaq____	3,053.40	▼	-20.27	▼	-0.66%	
	S&P_500__	1,402.08	▼	-11.41	▼	-0.81%	
	30_Yr_Bond	2.780	▼	-0.05	▼	-1.59%	

NYSE Volume	 2,986,876,000 			 		 	
Nasdaq Volume	 1,391,382,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,776.60	▲	2.40	▲	0.04%	
	DAX_____	6,949.57	▼	-68.18	▼	-0.97%	
	CAC_40__	3,432.56	▼	-29.09	▼	-0.84%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,411.80	▲	8.50	▲	0.19%	
	Shanghai_Comp	2,113.07	▲	5.36	▲	0.25%	
	Taiwan_Weight	7,505.17	▲	8.59	▲	0.11%	
	Nikkei_225____	9,178.12	▲	46.38	▲	0.51%	
	Hang_Seng____	20,132.24	▲	53.93	▲	1.23%	
	Strait_Times___	3,059.52	▲	10.05	▲	0.33%	
	NZX 50 Index__	3,663.34	▲	4.97	▲	0.14%	

http://finance.yahoo.com/news/stocks-down-fed-moves-seem-160340932.html

*Stocks down; Fed moves seem less like a sure thing

Stocks fall after official cautions that Fed action isn't a sure thing; HP, Big Lots down*

By Christina Rexrode, AP Business Writer

Nobody ever said reading the Federal Reserve was easy. 

On Wednesday, the Fed appeared to suggest it was closer to taking additional steps to help the U.S. economy. Stocks rallied as a result and finished the day well off their lows. 

But the prospect of Fed help seemed much less certain Thursday, and stocks fell. The Dow Jones industrial average lost 115.30 points to close at 13,057.46 ”” the biggest loss in more than a month and the Dow's fourth straight down day. 

James Bullard, president of the Fed's St. Louis bank, told CNBC that the minutes from the July 31-Aug. 1 meeting were "stale" because the economy had picked up since then. If it becomes "a bit stronger," he said, the Fed will hold off. 

"He poured some water on the fire of the QE3 talk," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research in Cincinnati, using market slang for a Fed program of bond-buying to help the economy. 

But another Fed regional official, Chicago president Charles Evans, told reporters in Beijing that he supports further action by the Fed, an apparent affirmation of the Fed minutes. 

The government reported that claims for unemployment insurance rose last week, the second straight increase, which also hurt stocks. The Standard & Poor's 500 index fell 11.41 points to 1,402.08. The Nasdaq composite index fell 20.27 to 3,053.40. 

Benchmark oil fell 99 cents to $96.27 per barrel in New York. Slower growth cuts demand for oil, so traders push the price down when they are nervous about the economy. 

Manufacturing activity fell to a nine-month low in China, the world's second-largest economy after the United States. Some investors expect that the government there may have to step in more decisively to try to boost the economy. 

"It's just a harsh reminder that the worldwide economy continues to disappoint," Detrick said. 

Investors who yanked money out of stocks and oil put it in metals instead. The price of gold rose 2 percent, jumping $32.30 to $1,672.80 per ounce. Prices also rose for other metals. The euro hit a seven-week high against the dollar. 

But overall, news was slow, typical for the market's traditional August lull. 

The big events that could move the market lie ahead ”” Fed Chairman Ben Bernanke's speech in Wyoming later this month and a German court's ruling next month on whether the country can participate in a bailout for European countries. 

German leaders, on the eve of a critical meeting with their Greek counterparts to discuss Greece's ongoing bailout, showed signs of the strain between the two countries. 

Greece has asked for more time to put in place the spending reforms that Germany is requiring, but the German finance minister said Thursday that more time wouldn't solve Greece's problems. 

"It's really more of the same," said Mike Gibbs, co-head of the equity advisory group at Raymond James in Memphis, Tenn. "What Europe has done is told us they're going to do something. They haven't really told us what." 

In U.S. stocks, Big Lots fared worst among S&P 500 companies. It fell nearly 21 percent, losing $8.08 to $30.76, after reporting a sharp drop in its quarterly profit and slashing its forecast for the rest of the year. 

Hewlett-Packard lost $1.56, or more than 8 percent, to $17.64. The world's largest maker of printers and PCs reported weak quarterly results, took a huge charge to write down the value of a recent acquisition and offered a disappointing forecast. 

Trading volume was light, just under 3 billion shares. The average this year is 3.8 billion.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market keeps getting tossed around by the Fed. 

Stocks opened lower Friday but reversed course after a letter surfaced from Federal Reserve Chairman Ben Bernanke suggesting there was room for the central bank to do more to help the economy. 

"There is scope for further action by the Federal Reserve to ease financial conditions and strengthen the recovery," Bernanke wrote to California Rep. Darrell Issa, a Republican, in a letter obtained by The Wall Street Journal. 

The Dow Jones industrial average was down 30 points at its low but finished 100.51 points higher, at 13,157.97, its first gain all week. It was still the first losing week for the Dow since early July. 

The Standard & Poor's 500 index rose 9.05 to 1,411.13 but also snapped a six-week winning streak. The Nasdaq composite index rose 16.39 to 3,069.79, ending five straight weeks of gains. 

In a typically slow August, without much else to influence trading, investors have grasped for hints about what the Fed might do. 

On Wednesday afternoon, investors pushed stocks higher after the Fed released meeting minutes that appeared to signal it was ready to take more action to prop up the economy. 

On Thursday, stocks declined when a Fed regional bank president cast doubt on the idea, saying in an interview with CNBC that the economic recovery appeared to be gaining strength. 

Then on Friday, Bernanke shook up the market again. His letter was in response to questions from Issa, the head of the House oversight committee, who had asked whether it was premature to consider additional steps. 

 *The NYSE DOW closed  	HIGHER ▲	100.51	points or ▲	0.77%	Friday, 24 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,157.97	▲	100.51	▲	0.77%	
	Nasdaq____	3,069.79	▲	16.38	▲	0.54%	
	S&P_500__	1,411.13	▲	9.05	▲	0.65%	
	30_Yr_Bond	2.792	▲	0.01	▲	0.43%	

NYSE Volume	 2,581,775,750 			 		 	
Nasdaq Volume	 1,353,250,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,776.60	▲	0.00	▲	0.00%	
	DAX_____	6,971.07	▲	21.50	▲	0.31%	
	CAC_40__	3,433.21	▲	0.65	▲	0.02%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,376.50	▼	-35.30	▼	-0.80%	
	Shanghai_Comp	2,092.10	▼	-20.97	▼	-0.99%	
	Taiwan_Weight	7,477.53	▼	-27.64	▼	-0.37%	
	Nikkei_225____	9,070.76	▼	-107.36	▼	-1.17%	
	Hang_Seng____	19,880.03	▲	53.93	▼	-1.25%	
	Strait_Times___	3,050.49	▼	-5.88	▼	-0.19%	
	NZX 50 Index__	3,622.59	▼	-40.75	▼	-1.11%	

http://finance.yahoo.com/news/word-...1lZTJhLTExZTEtYWQ3ZS0xMjQ5N2E1ODhkNGY-;_ylv=3

*A word from Bernanke turns stocks around 

Stocks fall on weak economic report, then rise after Bernanke hints of more action from Fed*

By Christina Rexrode

The stock market keeps getting tossed around by the Fed. 

Stocks opened lower Friday but reversed course after a letter surfaced from Federal Reserve Chairman Ben Bernanke suggesting there was room for the central bank to do more to help the economy. 

"There is scope for further action by the Federal Reserve to ease financial conditions and strengthen the recovery," Bernanke wrote to California Rep. Darrell Issa, a Republican, in a letter obtained by The Wall Street Journal. 

The Dow Jones industrial average was down 30 points at its low but finished 100.51 points higher, at 13,157.97, its first gain all week. It was still the first losing week for the Dow since early July. 

The Standard & Poor's 500 index rose 9.05 to 1,411.13 but also snapped a six-week winning streak. The Nasdaq composite index rose 16.39 to 3,069.79, ending five straight weeks of gains. 

In a typically slow August, without much else to influence trading, investors have grasped for hints about what the Fed might do. 

On Wednesday afternoon, investors pushed stocks higher after the Fed released meeting minutes that appeared to signal it was ready to take more action to prop up the economy. 

On Thursday, stocks declined when a Fed regional bank president cast doubt on the idea, saying in an interview with CNBC that the economic recovery appeared to be gaining strength. 

Then on Friday, Bernanke shook up the market again. His letter was in response to questions from Issa, the head of the House oversight committee, who had asked whether it was premature to consider additional steps. 

The Fed has several options, including buying bonds, as it has done twice since the 2008 financial crisis, to try to lower interest rates and drive investors into the stock market. 

Still, it's debatable how much future Fed action would help the market or the economy. On Friday, some analysts thought it strange that the market moved so decisively on just an inkling about what the Fed chairman might be thinking. 

"What's new about what came out?" said Ann Miletti, senior portfolio manager at Wells Fargo Advantage Funds in Menomonee Falls, Wis. "I guess the markets are dependent on having some commentary about the macro economy every single day." 

For the most part, the market has been hard to read this month. Without much news, trading volume has been low, and investors haven't had much conviction either way about the economy. 

Of 18 trading days in August, only once has the Dow moved more than 1 percent. On five days, it has been virtually flat, moving less than one-tenth of a percentage point. 

The turbulence likely lies ahead. The Fed's annual meeting in Jackson Hole, Wyo., is at the end of the month. German courts are set to decide next month whether the country can keep participating in bailouts for weaker European countries. 

And the presidential election in November, which will help determine whether taxes go up and government spending is cut next year, could throw the markets into turmoil for weeks beforehand. 

"People look forward to a lot of questions being answered in the months ahead," said Tony Fratto, a former aide to President George W. Bush and managing partner at Hamilton Place Strategies in Washington. "But they don't have answers today." 

Economic reports that have trickled out this week have been mixed at best. 

Europe, though quiet, still showed signs of tension Friday. Britain reported that its economy shrank in the second quarter, the latest confirmation that the country is still in recession. 

The Greek prime minister met with his German and French counterparts to discuss Greece's bailout. Greek Prime Minister Antonis Samaras said Greece needs "time to breathe" while it implements spending cuts that Germany is demanding. German Chancellor Angela Merkel replied that Germany expects Greece to follow through with its commitments, "that deeds follow words." 

Durable goods orders, reported by the Commerce Department, rose in July but fell after excluding gains from the volatile transportation category. Durable goods are an important measure of economic health because those orders show whether businesses are willing to spend to expand or improve. 

Among U.S. stocks: 

”” Software maker Autodesk skidded more than 15 percent, falling $5.58 to $30.13, after weaker-than-expected second-quarter results. The company is restructuring to shift to cloud and mobile computing, but it also blamed an "uneven" global economy. 

”” Drugmaker Eli Lilly jumped more than 3 percent, rising $1.46 to $43.86, after reporting promising signs about a possible treatment for Alzheimer's disease. 

”” The Madison Square Garden Co., which hosts shows and games at Madison Square Garden, Radio City Musical Hall and other venues, jumped nearly 3 percent, rising $1.16 to $41.41, after reporting that profits more than tripled in the fiscal fourth quarter. It was helped partly by more home playoff games over the quarter for the New York Rangers and the New York Knicks. 

6805


----------



## bigdog

Source: http://finance.yahoo.com 

 The biggest story in the stock market Monday was Apple, but that wasn't saying much. 

Stocks barely moved. Trading was light, even by the slumberous standards of August. Investors ”” those who weren't on vacation ”” killed time waiting for a speech by Federal Reserve Chairman Ben Bernanke later this week. 

In the meantime, there wasn't much else to guide them. Apple was one of the only shreds of action in an otherwise dull market. 

The stock shot to an all-time high of $680.87 and finished at $675.68, up $12.46, or 1.9 percent. Late Friday, a jury found that Samsung copied some of the features of the iPhone and iPad, and Samsung could be forced to take products off the shelves. 

Apple's move wasn't the biggest on the stock market Monday. Best Buy, Hertz, Dollar Thrifty and other companies all moved by bigger percentages. 

But the Nasdaq composite index and Standard & Poor's 500 index are weighted by stock market value, so the biggest companies are the most important. A small change in Apple can influence the market more than big swings by smaller companies. 

Apple makes up more than 13 percent of the Nasdaq composite, and helped the index grasp a slight gain, rising 3.4 points to 3,073.19. It makes up 5 percent of the Standard & Poor's 500 index, which finished down 0.69 point to 1,410.44. 

The Dow Jones industrial average, which does not include Apple, fell 33.30 points to 13,124.67. 

Apple is the biggest company by stock market value in American history, worth $633 billion as of Monday. That's more than 100 times the value of Best Buy or Hertz, and about 260 times as much as Dollar Thrifty. 

 *The NYSE DOW closed  	LOWER ▼	-33.30	points or ▼	-0.25%	Monday, 27 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,124.67	▼	-33.30	▼	-0.25%	
	Nasdaq____	3,073.19	▲	3.41	▲	0.11%	
	S&P_500__	1,410.44	▼	-0.69	▼	-0.05%	
	30_Yr_Bond	2.757	▼	-0.04	▼	-1.25%	

NYSE Volume	 2,455,363,500 			 		 	
Nasdaq Volume	 1,387,166,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
FTSE_100	5,776.60		closed for holiday
	DAX_____	7,047.45	▲	76.38	▲	1.10%	
	CAC_40__	3,462.83	▲	29.62	▲	0.86%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,372.90	▼	-3.60	▼	-0.08%	
	Shanghai_Comp	2,055.71	▼	-36.40	▼	-1.74%	
	Taiwan_Weight	7,468.22	▼	-9.31	▼	-0.12%	
	Nikkei_225____	9,085.39	▲	14.63	▲	0.16%	
	Hang_Seng____	19,798.67	▲	53.93	▼	-0.41%	
	Strait_Times___	3,044.49	▼	-6.00	▼	-0.20%	
	NZX 50 Index__	3,623.23	▲	0.64	▲	0.02%	

http://finance.yahoo.com/news/quiet-day-apple-rules-stock-192047915.html

*On a quiet day, Apple rules the stock market

Investors wait for news from Fed; until then, Apple is the biggest story they can find*

By Christina Rexrode, AP Business Writer

The biggest story in the stock market Monday was Apple, but that wasn't saying much. 

Stocks barely moved. Trading was light, even by the slumberous standards of August. Investors ”” those who weren't on vacation ”” killed time waiting for a speech by Federal Reserve Chairman Ben Bernanke later this week. 

In the meantime, there wasn't much else to guide them. Apple was one of the only shreds of action in an otherwise dull market. 

The stock shot to an all-time high of $680.87 and finished at $675.68, up $12.46, or 1.9 percent. Late Friday, a jury found that Samsung copied some of the features of the iPhone and iPad, and Samsung could be forced to take products off the shelves. 

Apple's move wasn't the biggest on the stock market Monday. Best Buy, Hertz, Dollar Thrifty and other companies all moved by bigger percentages. 

But the Nasdaq composite index and Standard & Poor's 500 index are weighted by stock market value, so the biggest companies are the most important. A small change in Apple can influence the market more than big swings by smaller companies. 

Apple makes up more than 13 percent of the Nasdaq composite, and helped the index grasp a slight gain, rising 3.4 points to 3,073.19. It makes up 5 percent of the Standard & Poor's 500 index, which finished down 0.69 point to 1,410.44. 

The Dow Jones industrial average, which does not include Apple, fell 33.30 points to 13,124.67. 

Apple is the biggest company by stock market value in American history, worth $633 billion as of Monday. That's more than 100 times the value of Best Buy or Hertz, and about 260 times as much as Dollar Thrifty. 

Overall trading was subdued ”” just 2.4 billion shares. The only quieter day this year was July 3, a Tuesday that fell before a midweek Fourth of July. 

"The market is kind of on hold until Jackson Hole," said Randall Warren, chief investment officer of Warren Financial Service in Exton, Pa., referring to the Wyoming resort town where Bernanke will speak. "Probably Apple is the only thing that's moving the market today. It's stunning how big they are." 

Investors will scour Bernanke's remarks for clues about whether the Federal Reserve will buy more government bonds or take other action to try to speed up the economic recovery. 

But some investors doubt there's much the Fed can do. The Fed's two previous rounds of bond-buying, launched in March 2009 and November 2010, were designed to lower interest rates, but short-term rates are already near zero. 

"Who cares what the Fed's going to do?" said Steve Quirk, senior vice president of the trader group at TD Ameritrade in Chicago. "It's not effective anymore anyway." 

Shares of Hertz and Dollar Thrifty jumped because Hertz announced it would buy its rival. Hertz shares rose 8.1 percent, or $1.06, to $14.21. Dollar Thrifty rose 7.5 percent, or $6.08, to $87.08. 

Best Buy climbed 56 cents, or 3.2 percent, to $17.87 after announcing that its founder would be able to pursue his plans to buy the company and take it off the public stock market. 

But mostly, trading was quiet. Out of 19 trading days this month, the Dow has moved more than 1 percent only once. On five days it has been virtually flat, moving less than one-tenth of a percentage point. 

In Europe, the debt crisis trudged along, but with no real steps forward or back. 

The head of Germany's central bank repeated his opposition to a bond-buying plan that could lower borrowing costs for countries like Spain and Italy but that would require Germany to foot most of the bill. 

Germany's finance minister and economy minister weighed in over the weekend, saying they wouldn't give Greece more time to make the spending cuts that Germany has demanded. 

But none of the comments came as a surprise, and bigger events lie ahead. German courts will decide next month whether Germany is constitutionally allowed to keep participating in bailouts.


----------



## bigdog

Source: http://finance.yahoo.com 

 Mixed economic data kept the stock market hovering near break-even Tuesday. One report on home prices looked encouraging, and another on consumer confidence was worrisome. 

House prices increased in all major U.S. cities in June, according to the closely watched Standard & Poor's/Case-Shiller home-price index. The report was the latest sign that the housing market has been gaining strength. 

"I thought it was terrific," said Phil Orlando, chief equity strategist at Federated Investors. "If you look at all of the key housing metrics over the past year ”” affordability, building permits, starts ”” all those numbers are pointing in the right direction." 

The Dow Jones industrial average dropped 21.68 points to close at 13,102.99. Hewlett-Packard led the Dow down. HP's stock lost 31 cents to $16.90 and hit a new one-year low. 

Crude oil crept above $96 a barrel as Hurricane Isaac picked up speed in the Gulf of Mexico, where roughly one-quarter of the country's oil is produced. Much of the region's production and refining activity has shut down. The National Hurricane Center forecast that Isaac would reach the coast of southeastern Louisiana late Tuesday. 

In other trading, the Standard & Poor's 500 index slipped 1.14 points to 1,409.30, and the Nasdaq composite index gained 3.95 points to 3,077.14. 

Trading was light again, typical for August vacation season. Over the past three days, fewer than 7.7 billion shares have been traded, the lowest three-day stretch since December 2011. 

The indexes dipped in morning trading after the Conference Board said its consumer confidence index fell to its lowest point since November 2011. Economists had expected a much higher reading. The index was 60.6, down from 65.4 in July. 

That unexpected drop bolsters the case for the Federal Reserve to take more steps to spur economic growth, said Chris Rupkey, chief financial economist at the Bank of Tokyo-Mitsubishi in New York, in a note to clients. 

For economists and investors, the big event this week is Chairman Ben Bernanke's speech at an annual conference in Jackson Hole, Wyo. Traders will sift through his speech Friday for evidence the Fed is readying more support. 

 *The NYSE DOW closed  	LOWER ▼	-21.68	points or ▼	-0.17%	Tuesday, 28 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,102.99	▼	-21.68	▼	-0.17%	
	Nasdaq____	3,077.14	▲	3.95	▲	0.13%	
	S&P_500__	1,409.30	▼	-1.14	▼	-0.08%	
	30_Yr_Bond	2.743	▼	-0.01	▼	-0.51%	

NYSE Volume	 2,632,560,500 			 		 	
Nasdaq Volume	 1,379,823,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,775.71	▼	-0.89	▼	-0.02%	
	DAX_____	7,002.68	▼	-44.77	▼	-0.64%	
	CAC_40__	3,431.55	▼	-31.28	▼	-0.90%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,387.00	▲	14.10	▲	0.32%	
	Shanghai_Comp	2,073.15	▲	17.45	▲	0.85%	
	Taiwan_Weight	7,361.94	▼	-106.28	▼	-1.42%	
	Nikkei_225____	9,033.29	▼	-52.10	▼	-0.57%	
	Hang_Seng____	19,811.80	▲	53.93	▲	0.07%	
	Strait_Times___	3,040.07	▼	-4.42	▼	-0.15%	
	NZX 50 Index__	3,629.05	▲	5.82	▲	0.16%	

http://finance.yahoo.com/news/stocks-mixed-thin-trading-oil-200951777.html

*Stocks mixed in thin trading; oil creeps over $96

US stocks end mixed; house prices rise while consumer confidence drops*

By Matthew Craft, AP Business Writer 

Mixed economic data kept the stock market hovering near break-even Tuesday. One report on home prices looked encouraging, and another on consumer confidence was worrisome. 

House prices increased in all major U.S. cities in June, according to the closely watched Standard & Poor's/Case-Shiller home-price index. The report was the latest sign that the housing market has been gaining strength. 

"I thought it was terrific," said Phil Orlando, chief equity strategist at Federated Investors. "If you look at all of the key housing metrics over the past year ”” affordability, building permits, starts ”” all those numbers are pointing in the right direction." 

The Dow Jones industrial average dropped 21.68 points to close at 13,102.99. Hewlett-Packard led the Dow down. HP's stock lost 31 cents to $16.90 and hit a new one-year low. 

Crude oil crept above $96 a barrel as Hurricane Isaac picked up speed in the Gulf of Mexico, where roughly one-quarter of the country's oil is produced. Much of the region's production and refining activity has shut down. The National Hurricane Center forecast that Isaac would reach the coast of southeastern Louisiana late Tuesday. 

In other trading, the Standard & Poor's 500 index slipped 1.14 points to 1,409.30, and the Nasdaq composite index gained 3.95 points to 3,077.14. 

Trading was light again, typical for August vacation season. Over the past three days, fewer than 7.7 billion shares have been traded, the lowest three-day stretch since December 2011. 

The indexes dipped in morning trading after the Conference Board said its consumer confidence index fell to its lowest point since November 2011. Economists had expected a much higher reading. The index was 60.6, down from 65.4 in July. 

That unexpected drop bolsters the case for the Federal Reserve to take more steps to spur economic growth, said Chris Rupkey, chief financial economist at the Bank of Tokyo-Mitsubishi in New York, in a note to clients. 

For economists and investors, the big event this week is Chairman Ben Bernanke's speech at an annual conference in Jackson Hole, Wyo. Traders will sift through his speech Friday for evidence the Fed is readying more support. 

Anyone hoping to hear Bernanke make a strong case for a third round of bond-buying, known as quantitative easing or QE3, is likely to wind up disappointed, said Russ Koesterich, global chief investment strategist for BlackRock's iShares group. "I don't think those investors are going to find what they're looking for." 

Recent reports draw a picture of an economy that's just plodding along, he said. It's hardly in perfect health, but it's not so weak that the Fed will be forced into action at the end of its next meeting on Sept. 13. 

"It's not clear there's enough evidence to support QE3 yet," Koesterich said. 

Worries over Europe resurfaced following news that one of Spain's largest regions, Catalonia, said it will ask the central government for $6.3 billion in rescue aid. Catalonia would be the third Spanish region to ask for help. 

Borrowing costs for Spain and Italy jumped, and major stock indexes in Europe closed lower. Germany's DAX dropped 0.6 percent, while France's CAC 40 fell 0.9 percent. 

Among other U.S. stocks making big moves: 

”” Lexmark International jumped 14 percent, the biggest gain in the S&P. Lexmark said that it will stop making ink-jet printers and plans to lay off 1,700 employees, nearly 13 percent of its work force. The company expects to shutter its ink-jet supply plant in the Philippines by the end of 2015. Lexmark's stock gained $2.61 to $21.62. 

”” The world's top ketchup maker, H.J. Heinz, gained 2 percent. The company's CEO said strong sales in Brazil, Indonesia and other developing countries should help quarterly earnings beat Wall Street's expectations. The Pittsburgh company reports results Wednesday. Its stock rose 95 cents to $57.41. 

”” Sanderson Farms soared 9 percent after the poultry company swung to a quarterly profit. Higher prices for chicken parts, from boneless breasts to jumbo wings, pushed both profits and revenue above analysts' estimates. Sanderson Farms' stock surged $3.46 to $44.05.


----------



## bigdog

Source: http://finance.yahoo.com 

Slightly better economic growth and stronger housing sales nudged the stock market higher Wednesday. The Dow Jones industrial average managed a four-point gain. 

The U.S. economy expanded at a 1.7 percent annual rate from April through June thanks to rising consumer spending and exports. That's an improvement from the initial estimate of 1.5 percent, but not enough to put a dent in the unemployment rate. 

The National Association of Realtors said its index of sales for previously owned homes increased 2.4 percent in July, reaching its highest level since April 2010, the last month buyers could qualify for a federal tax credit. 

"It's a mixed message overall," said JJ Kinahan, chief derivatives strategist at TD Ameritrade. "We all know we need 2 percent (economic) growth. And you can't continue to improve on housing if the unemployment picture doesn't improve. At some point, the numbers have to match." 

The Dow added 4.49 points to close at 13,107.48. 

The Standard & Poor's 500 index added 1.19 points to 1,410.49, while the Nasdaq composite index gained 4.05 points to 3,081.19. 

Crude oil lost 84 cents to finish at $95.49. Hurricane Isaac made landfall Tuesday night, but its heavy winds and rain aren't expected to cause extensive damage to oil production and refinery operations in the Gulf of Mexico. 

Markets have slipped into a late-summer lull. Indexes have barely budged amid some of thinnest trading days this year. After three days of minuscule moves, the S&P 500 index is down less than one point for the week. 

Just over 10 billion shares have been traded on the New York Stock Exchange over the past four sessions, the slowest stretch since the last four days of 2011. One measure of stock-market volatility, the Vix, recently sank to a five-year low.

 *The NYSE DOW closed  	HIGHER ▲	4.49	points or ▲	0.03%	Wednesday, 29 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,107.48	▲	4.49	▲	0.03%	
	Nasdaq____	3,081.19	▲	4.04	▲	0.13%	
	S&P_500__	1,410.49	▲	1.19	▲	0.08%	
	30_Yr_Bond	2.768	▲	0.03	▲	0.91%	

NYSE Volume	 2,578,020,250 			 		 	
Nasdaq Volume	 1,286,976,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,743.53	▼	-32.18	▼	-0.56%	
	DAX_____	7,010.57	▲	7.89	▲	0.11%	
	CAC_40__	3,413.89	▼	-17.66	▼	-0.51%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,381.50	▼	-5.50	▼	-0.13%	
	Shanghai_Comp	2,053.23	▼	-19.92	▼	-0.96%	
	Taiwan_Weight	7,391.15	▲	29.21	▲	0.40%	
	Nikkei_225____	9,069.81	▲	36.52	▲	0.40%	
	Hang_Seng____	19,788.51	▲	53.93	▼	-0.12%	
	Strait_Times___	3,045.51	▲	5.44	▲	0.18%	
	NZX 50 Index__	3,628.39	▼	-0.66	▼	-0.02%	

http://finance.yahoo.com/news/stocks-edge-us-growth-revised-154911301.html

*Stocks edge up after US growth revised higher

Stocks edge up after government revises second-quarter growth higher*

By Matthew Craft, AP Business Writer 

Slightly better economic growth and stronger housing sales nudged the stock market higher Wednesday. The Dow Jones industrial average managed a four-point gain. 

The U.S. economy expanded at a 1.7 percent annual rate from April through June thanks to rising consumer spending and exports. That's an improvement from the initial estimate of 1.5 percent, but not enough to put a dent in the unemployment rate. 

The National Association of Realtors said its index of sales for previously owned homes increased 2.4 percent in July, reaching its highest level since April 2010, the last month buyers could qualify for a federal tax credit. 

"It's a mixed message overall," said JJ Kinahan, chief derivatives strategist at TD Ameritrade. "We all know we need 2 percent (economic) growth. And you can't continue to improve on housing if the unemployment picture doesn't improve. At some point, the numbers have to match." 

The Dow added 4.49 points to close at 13,107.48. 

The Standard & Poor's 500 index added 1.19 points to 1,410.49, while the Nasdaq composite index gained 4.05 points to 3,081.19. 

Crude oil lost 84 cents to finish at $95.49. Hurricane Isaac made landfall Tuesday night, but its heavy winds and rain aren't expected to cause extensive damage to oil production and refinery operations in the Gulf of Mexico. 

Markets have slipped into a late-summer lull. Indexes have barely budged amid some of thinnest trading days this year. After three days of minuscule moves, the S&P 500 index is down less than one point for the week. 

Just over 10 billion shares have been traded on the New York Stock Exchange over the past four sessions, the slowest stretch since the last four days of 2011. One measure of stock-market volatility, the Vix, recently sank to a five-year low. 

Kinahan said the market's apparent lack of direction makes sense, especially ahead of the Labor Day weekend and a highly anticipated speech by Federal Reserve Chairman Ben Bernanke on Friday. 

"There's no incentive to take a big trading position," he said. "Many people I know plan on taking a three-day weekend or are just coming in for the speech to see if (Bernanke) says anything interesting or market-moving. If not, they're outta there." 

Among companies making news: 

”” WellPoint, the second-largest health insurance company in the United States, jumped $4.41, or 8 percent, to $61.80 after its CEO resigned. Investors had been frustrated with Angela Braly because of disappointing results. 

”” H.J. Heinz posted a 14 percent jump in quarterly net income, driven by higher prices and emerging-market sales, but revenue fell and missed Wall Street expectations. Heinz stock dropped $1.29, or 2 percent, to $56.12. 

”” The clothing store chain Jos. A. Bank posted stronger sales and revenue than Wall Street expected, and its stock soared $5.81, or 14 percent, to $47.44. 

”” Sealed Air Corp., a food packaging company, jumped 12 percent, the S&P 500's biggest gain. A former Dow Chemical executive will take over when its current CEO retires. The company's stock gained $1.58 to $14.58


----------



## bigdog

Source: http://finance.yahoo.com 

The late-summer lull is about to end. 

Stocks fell Thursday, with investors too worried about high gas prices and stagnant employment to be impressed by higher consumer spending. 

But trading volume was light, the market's direction was steady, and there wasn't much in the way of major economic news. 

That could all change Friday. Federal Reserve Chairman Ben Bernanke is scheduled to speak at 10 a.m. EDT, and investors will be listening closely for his opinion on the economy and whether the Fed will take more action to try to prop it up. 

Scott Freeze, president of Street One Financial in Huntingdon Valley, Pa., had the feeling that he was experiencing the calm before the storm. He went golfing Thursday morning with clients, figuring there wouldn't be many more chances to leave the office. 

Many of his employees and clients planned to come to work Friday morning, stick around to see what Bernanke says, and then leave early for the long weekend if it's nothing of consequence. 

"There's so little going on, it's all wait and see before Bernanke's speech," Freeze said. "I'm sure next week will be a much different scenario." 

Some thought Bernanke's speech, for all the hype, would end up being a non-event. The statements from Fed officials are sometimes too ambiguous to really guide the market. And there's a lot of doubt that the Fed can do anything for the economy anyway. 

"Some people hang on every word, they try to figure out what kind of briefcase he's carrying," said John Lekas, senior portfolio manager at Leader Capital in Portland, Ore. "I think that's a waste of time. It doesn't matter that much." 

For much of August, with many traders on vacation and a dearth of major economic news, the market has lumbered more than galloped. On Thursday, about 2.4 billion shares were traded on the New York Stock Exchange. The average for the year so far is about 3.7 billion. 

The Dow Jones industrial average closed down 106.77 points to 13,000.71. The Standard & Poor's 500 fell 11.01 to 1,399.48. The Nasdaq composite slid 32.48 to 3,048.71. 

The economic news that did surface Thursday was uninspiring to investors. 

 *The NYSE DOW closed  	LOWER ▼	-106.77	points or ▼	-0.81%	Thursday, 30 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,000.71	▼	-106.77	▼	-0.81%	
	Nasdaq____	3,048.71	▼	-32.47	▼	-1.05%	
	S&P_500__	1,399.48	▼	-11.01	▼	-0.78%	
	30_Yr_Bond	2.738	▼	-0.03	▼	-1.08%	

NYSE Volume	 2,448,763,500 			 		 	
Nasdaq Volume	 1,218,731,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,719.45	▼	-24.08	▼	-0.42%	
	DAX_____	6,895.49	▼	-115.08	▼	-1.64%	
	CAC_40__	3,379.11	▼	-34.78	▼	-1.02%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,340.20	▼	-41.30	▼	-0.94%	
	Shanghai_Comp	2,052.58	▼	-0.65	▼	-0.03%	
	Taiwan_Weight	7,371.44	▼	-19.71	▼	-0.27%	
	Nikkei_225____	8,983.78	▼	-86.03	▼	-0.95%	
	Hang_Seng____	19,552.91	▲	53.93	▼	-1.19%	
	Strait_Times___	3,011.82	▼	-29.75	▼	-0.98%	
	NZX 50 Index__	3,629.56	▲	1.18	▲	0.03%	

http://finance.yahoo.com/news/markets-august-lull-nears-end-185230469.html

*The market's August lull nears an end; stocks fall

Consumers spend more, but the stock market is unimpressed; investors await Bernanke*

By Christina Rexrode, AP Business Writer

The late-summer lull is about to end. 

Stocks fell Thursday, with investors too worried about high gas prices and stagnant employment to be impressed by higher consumer spending. 

But trading volume was light, the market's direction was steady, and there wasn't much in the way of major economic news. 

That could all change Friday. Federal Reserve Chairman Ben Bernanke is scheduled to speak at 10 a.m. EDT, and investors will be listening closely for his opinion on the economy and whether the Fed will take more action to try to prop it up. 

Scott Freeze, president of Street One Financial in Huntingdon Valley, Pa., had the feeling that he was experiencing the calm before the storm. He went golfing Thursday morning with clients, figuring there wouldn't be many more chances to leave the office. 

Many of his employees and clients planned to come to work Friday morning, stick around to see what Bernanke says, and then leave early for the long weekend if it's nothing of consequence. 

"There's so little going on, it's all wait and see before Bernanke's speech," Freeze said. "I'm sure next week will be a much different scenario." 

Some thought Bernanke's speech, for all the hype, would end up being a non-event. The statements from Fed officials are sometimes too ambiguous to really guide the market. And there's a lot of doubt that the Fed can do anything for the economy anyway. 

"Some people hang on every word, they try to figure out what kind of briefcase he's carrying," said John Lekas, senior portfolio manager at Leader Capital in Portland, Ore. "I think that's a waste of time. It doesn't matter that much." 

For much of August, with many traders on vacation and a dearth of major economic news, the market has lumbered more than galloped. On Thursday, about 2.4 billion shares were traded on the New York Stock Exchange. The average for the year so far is about 3.7 billion. 

The Dow Jones industrial average closed down 106.77 points to 13,000.71. The Standard & Poor's 500 fell 11.01 to 1,399.48. The Nasdaq composite slid 32.48 to 3,048.71. 

The economic news that did surface Thursday was uninspiring to investors. 

The government reported that consumer spending rose in July from June, after a flat June and a decline in May. Separately, retailers like Target Corp., Gap Inc. and Macy's Inc. reported higher-than-expected August sales. 

But rather than send stocks up, investors instead worried that the gains were only temporary, driven by back-to-school shopping that will soon peter out. 

Gas prices and job prospects, which are key when people decide how much to spend, were not encouraging. Hurricane Isaac helped push the national average price for a gallon of gas to $3.83 from $3.80 Wednesday, according to the AAA. The government reported that the four-week moving average for unemployment claims also ticked higher. 

Freeze, from Street One, doubts the jobs picture will improve soon, with so many companies not hiring. He thinks it's disingenuous when they blame their hiring drought on the uncertainty of not knowing who will be president next year. 

"They're saying, 'I don't know what my tax situation will be,' or 'I don't know if Obama will be president and I don't want to deal with Obama's health care plan,'" he said. "I think these are just easy excuses for the corporations to use, because quite frankly the production levels and the revenue they're generating don't warrant hiring new employees." 

Among the stocks that did make notable moves: 

””Pandora Media Inc. jumped more than 14 percent, rising $1.44 to $11.52. The Internet radio company reported big increases in revenue from advertising, subscriptions, and from listeners accessing the website from mobile devices. 

””TiVo Inc., known for its digital video recorders, fell more than 3 percent, losing 32 cents to $9.04, after reporting a larger quarterly loss and missing analysts' revenue predictions. 

””Vera Bradley, the maker of high-end handbags, lost almost 9 percent, slipping $2.09 to $21.53. Weak sales in May and June forced the company to cut its earnings and revenue predictions for the year.


----------



## bigdog

Source: http://finance.yahoo.com 

It took a while, but investors eventually decided they liked what they heard from Ben Bernanke, and stock indexes rose enough on Friday to put them into positive territory for August. 

Stocks gyrated after the Federal Reserve chairman spoke on Friday morning. They first gave up their morning gains, then bolted to their highs for the day, before settled in-between. 

The Dow Jones industrial average ended the day up 90.13 points at 13,090.84. 

A half-hour after trading began, Bernanke declared that the Fed is ready to take more action to help an economy that's "far from satisfactory." 

Investors have been watching to see whether the Fed will buy more bonds to further lower long-term interest rates. Stocks fell initially, however, after it became clear that no such announcement was coming Friday and that Bernanke had stopped short of committing the Fed to any specific move. 

Still, he said the Fed "should not rule out" new policies to improve the job market. 

Stocks rebounded once investors parsed his comments. At one point the Dow was up as many as 151 points. 

In terms of volatility, "it's been the most action we've seen in couple of weeks," said Ryan Larson, a senior equity trader at RBC Global Asset Management. He noted that pre-Labor Day volume was light, with many investors and traders on vacation, which can contribute to bigger price swings. 

The Standard & Poor's 500 index closed up by 7.10 points at 1,406.58. The Nasdaq rose 18.25 points to close at 3,066.96. 

The Dow finished the month of August up by 0.8 percent. The S&P 500 rose more than 2 percent for the month, and the Nasdaq rose more than 4 percent. 

Investors looking for help from the Federal Reserve may only have one more chance before the election, said Frank Fantozzi, CEO of Planned Financial Services in Cleveland. The Fed's policy-making arm meets on Sept. 13. If it doesn't announce some form of stimulus then, it probably won't until after the election, he said. 

 *The NYSE DOW closed  	HIGHER ▲	90.05	points or ▲	0.69%	Friday, 31 August 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,090.76	▲	90.05	▲	0.69%	
	Nasdaq____	3,066.96	▲	18.25	▲	0.60%	
	S&P_500__	1,406.57	▲	7.09	▲	0.51%	
	30_Yr_Bond	2.684	▼	-0.05	▼	-1.97%	

NYSE Volume	 2,856,279,500 			 		 	
Nasdaq Volume	 1,402,203,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,711.48	▼	-7.97	▼	-0.14%	
	DAX_____	6,970.79	▲	75.30	▲	1.09%	
	CAC_40__	3,413.07	▲	33.96	▲	1.00%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,339.00	▼	-1.20	▼	-0.03%	
	Shanghai_Comp	2,047.52	▼	-5.06	▼	-0.25%	
	Taiwan_Weight	7,397.06	▲	25.62	▲	0.35%	
	Nikkei_225____	8,839.91	▼	-143.87	▼	-1.60%	
	Hang_Seng____	19,482.57	▲	53.93	▼	-0.36%	
	Strait_Times___	3,025.46	▲	13.64	▲	0.45%	
	NZX 50 Index__	3,666.68	▲	37.12	▲	1.02%	

http://finance.yahoo.com/news/stocks-higher-volatile-bernanke-speaks-170404437.html

*Stocks higher, but volatile, after Bernanke speaks

Stocks rise, but unevenly, after Bernanke says more Fed action is possible*

By Joshua Freed, AP Business Writer 

It took a while, but investors eventually decided they liked what they heard from Ben Bernanke, and stock indexes rose enough on Friday to put them into positive territory for August. 

Stocks gyrated after the Federal Reserve chairman spoke on Friday morning. They first gave up their morning gains, then bolted to their highs for the day, before settled in-between. 

The Dow Jones industrial average ended the day up 90.13 points at 13,090.84. 

A half-hour after trading began, Bernanke declared that the Fed is ready to take more action to help an economy that's "far from satisfactory." 

Investors have been watching to see whether the Fed will buy more bonds to further lower long-term interest rates. Stocks fell initially, however, after it became clear that no such announcement was coming Friday and that Bernanke had stopped short of committing the Fed to any specific move. 

Still, he said the Fed "should not rule out" new policies to improve the job market. 

Stocks rebounded once investors parsed his comments. At one point the Dow was up as many as 151 points. 

In terms of volatility, "it's been the most action we've seen in couple of weeks," said Ryan Larson, a senior equity trader at RBC Global Asset Management. He noted that pre-Labor Day volume was light, with many investors and traders on vacation, which can contribute to bigger price swings. 

The Standard & Poor's 500 index closed up by 7.10 points at 1,406.58. The Nasdaq rose 18.25 points to close at 3,066.96. 

The Dow finished the month of August up by 0.8 percent. The S&P 500 rose more than 2 percent for the month, and the Nasdaq rose more than 4 percent. 

Investors looking for help from the Federal Reserve may only have one more chance before the election, said Frank Fantozzi, CEO of Planned Financial Services in Cleveland. The Fed's policy-making arm meets on Sept. 13. If it doesn't announce some form of stimulus then, it probably won't until after the election, he said. 

"He's waiting until the last possible minute," Fantozzi said of Bernanke. "I think in the next two weeks they're going to really digest the economic data and say, 'Ok, do we get involved or not?'" 

Bernanke's said at a Fed meeting in Jackson Hole, Wyo., that it's "probably not a coincidence" that stock prices have risen since March 2009, when the Fed first announced its plan to buy Treasuries and other securities. The Dow is up 77 percent since the 2009 announcement. 

Bernanke's comments on Friday got more uniform reception in energy markets, which tend to rise on bullish signs for the economy. Oil prices jumped $1.81 to $96.43 per barrel on the New York Mercantile Exchange. Natural gas and heating oil both rose more than 1 percent. 

Stocks rose in nine out of 10 industry groups in the S&P 500. Energy stocks and materials stocks had the biggest gains, each up 1 percent. Utility stocks declined slightly. 

Also Friday, the Commerce Department said factory orders rose 2.8 percent in July on surging demand for autos and commercial planes. However, orders for core capital goods ”” a key measure of investment spending ”” dropped 4 percent. That was that figure's fourth decline in five months. 

Investors seemed more focused on Bernanke's comments and the overall higher factory orders, though. 

Other shares with big moves on Friday included: 

””Facebook set a new low. Downgrades by analysts pushed it down $1.03, or 5.4 percent, to $18.06. Its previous intraday low was $18.75. Facebook is down 52 percent from its $38 initial public offering price. 

”” US Airways Group Inc., up 2.5 percent after disclosing that it signed a confidentiality agreement that signals the beginning of talks with American Airlines for a possible merger. 

”” Zumiez fell 9.4 percent after the specialty sports and clothing retailer said its third-quarter earnings would be lower than analysts had expected. 

”” Science Applications International Corp. rose 3.4 percent after saying it will split at the end of next year into two businesses, with one focusing on national security, engineering and health customers, and another focused on government customers. 

Stocks in Europe were mixed. The German DAX and the CAC 40 in France both rose about 1 percent. The FTSE 100 in Britain fell 0.1 percent. 

The dollar fell, with the euro rising to $1.258, and the Japanese Yen rising against the dollar to 78.33.

7553


----------



## bigdog

Source: http://finance.yahoo.com 

Markets started yet another potentially crucial week on a solid note as investors betted on more central bank action and that China would enact more stimulus measures following a dispiriting manufacturing survey. 

*However, with Wall Street out of action because of the Labor Day holiday, the August trading lull continued into the first trading day of the new month. *

Monday's trading was dominated by a survey suggesting that China's manufacturing sector was contracting. Though that is a bad sign for the global economy, investors think it makes it more likely that the country's monetary authorities will ease monetary policy soon. 

"August saw Chinese manufacturing activity hit a three-year low, prompting a return of the 'bad news is good news' trade as markets rose on expectation of some action from the Politburo in Beijing," said Chris Beauchamp, market analyst at IG Index. 

Options available to Beijing include reducing interest rates, lowering the amount banks have to hold in reserve or increasing spending. China's economic growth has already fallen to a three-year low of 7.6 percent in the second quarter. 

Hopes that more stimulus in China was on the cards helped European markets post solid gains. Britain's FTSE 100 advanced 0.8 percent to 5,758 while Germany's DAX added 0.6 percent to 7,014. The CAC-40 in France was 1.19 percent higher at 3,453. 

Investors around the world will have a number of issues to contend with over the rest of the week, which culminates with Friday's U.S. nonfarm payrolls report for August. 

But before then, all eyes will be on Thursday's European Central Bank monthly policy meeting. Its president, Mario Draghi, is expected to announce details of a new bond-buying program that's intended to keep a lid on the borrowing costs of countries like Spain and Italy. 

*The NYSE DOW closed  for labour day holiday on	Monday, 3 September 2012	*
Symbol …........Last ......Change.....		[/B]				
Dow_Jones	13,090.76	▲	90.05	▲	0.69%	
\Nasdaq____	3,066.96	▲	18.25	▲	0.60%	
S&P_500__	1,406.57	▲	7.09	▲	0.51%	
30_Yr_Bond	2.684	▼	-0.05	▼	-1.97%

NYSE Volume	 2,856,279,500 			 		 	
Nasdaq Volume	 1,402,203,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,758.41	▲	46.93	▲	0.82%	
	DAX_____	7,014.83	▲	44.04	▲	0.63%	
	CAC_40__	3,453.71	▲	40.64	▲	1.19%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,351.60	▲	12.60	▲	0.29%	
	Shanghai_Comp	2,059.15	▲	11.63	▲	0.57%	
	Taiwan_Weight	7,450.53	▲	53.47	▲	0.72%	
	Nikkei_225____	8,783.89	▼	-56.02	▼	-0.63%	
	Hang_Seng____	19,559.21	▲	53.93	▲	0.39%	
	Strait_Times___	3,017.22	▼	-8.24	▼	-0.27%	
	NZX 50 Index__	3,669.03	▲	2.35	▲	0.06%	

http://finance.yahoo.com/news/markets-buoyed-china-stimulus-hopes-100053044.html

*Markets buoyed by China stimulus hopes

World stocks rise after poor China production data convinces traders that easing is on the way*

By Pan Pylas, AP Business Writer 

Markets started yet another potentially crucial week on a solid note as investors betted on more central bank action and that China would enact more stimulus measures following a dispiriting manufacturing survey. 

However, with Wall Street out of action because of the Labor Day holiday, the August trading lull continued into the first trading day of the new month. 

Monday's trading was dominated by a survey suggesting that China's manufacturing sector was contracting. Though that is a bad sign for the global economy, investors think it makes it more likely that the country's monetary authorities will ease monetary policy soon. 

"August saw Chinese manufacturing activity hit a three-year low, prompting a return of the 'bad news is good news' trade as markets rose on expectation of some action from the Politburo in Beijing," said Chris Beauchamp, market analyst at IG Index. 

Options available to Beijing include reducing interest rates, lowering the amount banks have to hold in reserve or increasing spending. China's economic growth has already fallen to a three-year low of 7.6 percent in the second quarter. 

Hopes that more stimulus in China was on the cards helped European markets post solid gains. Britain's FTSE 100 advanced 0.8 percent to 5,758 while Germany's DAX added 0.6 percent to 7,014. The CAC-40 in France was 1.19 percent higher at 3,453. 

Investors around the world will have a number of issues to contend with over the rest of the week, which culminates with Friday's U.S. nonfarm payrolls report for August. 

But before then, all eyes will be on Thursday's European Central Bank monthly policy meeting. Its president, Mario Draghi, is expected to announce details of a new bond-buying program that's intended to keep a lid on the borrowing costs of countries like Spain and Italy. 

Michael Hewson, markets analyst at CMC Markets, warned that markets "may once again be getting ahead of themselves" again as Draghi may wish to wait to hear the verdict of German constitutional court on the legality of the European Stability Mechanism, Europe's planned bailout fund. The ruling is expected on September 12. 

Hopes that the ECB will play a more crucial role in the debt crisis have helped support the euro in recent weeks. After nearly dropping to near two-year lows below $1.20, the euro has pushed back above $1.25. It's trading 0.14 percent higher Monday at $1.2595. 

The U.S. payroll figures, which often set the market tone for a week or two after their release, could be particularly important this month too. Last Friday, Federal Reserve Chairman Ben Bernanke suggested that more central bank action was possible to support the U.S. economy so a bad set of data could mean persuade investors to think the Fed will act sooner rather than later. Previous Fed stimulus packages have shored up markets as the fresh liquidity on offer made its way round financial markets. 

Earlier in Asia Monday, stocks closed mostly higher. Japan's Nikkei 225 shed earlier gains to close 0.6 percent lower at 8,783.89. Hong Kong's Hang Seng added 0.4 percent to 19,559.21 and South Korea's Kospi climbed 0.4 percent to 1,912.71. 

In mainland China, the Shanghai Composite Index rose 0.6 percent to 2,059.15 and the smaller Shenzhen Composite Index jumped 1.9 percent to 854.76. 

Trading was also lackluster in the oil markets, where benchmark crude for October delivery was up 21 cents at $96.68 a barrel in electronic trading on the New York Mercantile Exchange.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks zigged and zagged after reports that the U.S. economy is weakening at a time when China and Europe are also slowing. 

The Dow Jones industrial average closed down 54.90 points at 13,035.94 on Tuesday. Heavy equipment maker Caterpillar was the weakest stock in the Dow average, slipping 3 percent, or $2.67, to $82.66. The Standard & Poor's 500 index fell 1.64 points to 1,404.94. 

The Nasdaq index bucked the losing trend, gaining 8.10 points at 3,075.06. A big reason was that the index's biggest stock, Apple, rose $9.73 to $674.97 after the company invited reporters to a news event next week at which it is expected to announce the long-awaited iPhone 5. 

The market got off to a weak start after the Commerce Department reported that U.S. construction spending fell 0.9 percent in July from June, driven lower by a sharp drop in spending on home improvement projects. 

The decline, the worst in a year, followed three months of gains powered by increases in home and apartment construction. New home construction rose again in July, but spending on home renovation projects fell 5.5 percent. 

A separate report delivered more gloomy news on the economy: the third straight month of contraction in U.S. manufacturing. New orders, production and employment all fell in August. Factories have been a key source of jobs and growth since the recession ended in June 2009, but the sector has been weak in recent months. 

 *The NYSE DOW closed  	HIGHER ▲	0.01	points or ▲	#REF!	Tuesday, 4 September 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,780.95	▲	97.33	▲	0.01	
	Nasdaq___	2,915.83	▲	0.00	▲	0.00%	
	S&P_500__	1,343.23	▲	7.27	▲	0.54%	
	30_Yr_Bond	3.093	▲	0.00	▲	0.00%	

NYSE Volume	4,088,140			 		 	
Nasdaq Volume	2,056,358			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,853.80	▲	38.36	▲	0.65%	
	DAX_____	6,680.83	▲	77.11	▲	1.14%	
	CAC_40__	3,362.56	▲	27.79	▲	0.82%	


http://finance.yahoo.com/news/stocks-end-mixed-weak-us-201201832.html

Stocks end mixed on weak US economic reports
Stock market ends mixed following reports of weakness in US manufacturing and construction
By Pallavi Gogoi, AP Business Writer

Stocks zigged and zagged after reports that the U.S. economy is weakening at a time when China and Europe are also slowing. 

The Dow Jones industrial average closed down 54.90 points at 13,035.94 on Tuesday. Heavy equipment maker Caterpillar was the weakest stock in the Dow average, slipping 3 percent, or $2.67, to $82.66. The Standard & Poor's 500 index fell 1.64 points to 1,404.94. 

The Nasdaq index bucked the losing trend, gaining 8.10 points at 3,075.06. A big reason was that the index's biggest stock, Apple, rose $9.73 to $674.97 after the company invited reporters to a news event next week at which it is expected to announce the long-awaited iPhone 5. 

The market got off to a weak start after the Commerce Department reported that U.S. construction spending fell 0.9 percent in July from June, driven lower by a sharp drop in spending on home improvement projects. 

The decline, the worst in a year, followed three months of gains powered by increases in home and apartment construction. New home construction rose again in July, but spending on home renovation projects fell 5.5 percent. 

A separate report delivered more gloomy news on the economy: the third straight month of contraction in U.S. manufacturing. New orders, production and employment all fell in August. Factories have been a key source of jobs and growth since the recession ended in June 2009, but the sector has been weak in recent months. 

The Institute for Supply Management, a trade group of purchasing managers for manufacturers, said its index of manufacturing edged down to 49.6 from 49.7 in July. It was the lowest reading in three years. A reading below 50 indicates that manufacturing is contracting. 

"It's time to go back to school and sharpen up on stocks and pay attention to the numbers," said Kim Forrest, equity analyst at financial advisory firm Fort Pitt Capital Group. "The numbers show that there's a lot of weakness out there and investors have gotten lulled into complacency in the last month or so." 

The week will culminate with U.S. nonfarm payroll figures Friday, one of the most important barometers for the world's largest economy. Federal Reserve chairman Ben Bernanke has indicated that the central bank is inclined to provide new stimulus if it's needed. 

Despite the gloom, Americans continued to buy cars thanks to model-year closeouts, low-interest financing and appealing new models. GM's August U.S. sales rose 10 percent compared with a year earlier, while Ford's rose 13 percent and Chrysler's 14 percent. Ford's stock rose 7 cents to $9.41. 

In Europe, Moody's warned that it could downgrade the credit rating of the European Union as a whole, citing the continent's lingering debt crisis. That sent markets broadly lower in Europe. Benchmark indexes fell 1.2 percent in Germany, 1.6 percent in France and 1.5 percent in Britain. 

The focus this week will be on the European Central Bank President Mario Draghi, who is expected to announce details on Thursday of a new bond-buying program intended to bring down the borrowing costs of countries such as Spain and Italy. 

The price of oil also slipped on worries that demand would fall. U.S. benchmark crude fell $1.17 to $95.30 in New York. 

Among other stocks making big moves: 

”” Netflix plunged $3.79 to $55.93, a loss of 6 percent. Rival Amazon signed a deal with a company that licenses movies from Paramount, MGM and Lionsgate for its online streaming service. 

”” Consol Energy fell 4.5 percent after the company said it will temporarily idle a mine because of weak steel demand. The stock lost $1.37 to end at $28.83. 

”” Medicis Pharmaceutical soared 38 percent. The company said it would be acquired by dermatology products maker Valeant Pharmaceuticals International. Medicis jumped $12.09 to $43.65.


----------



## bigdog

Source: http://finance.yahoo.com 

U.S. stock prices are closing mixed, held in check by a warning from the huge package delivery company FedEx that its profits would be hurt because of a slowdown in the global economy. 

FedEx cited weakness in its express package delivery business. That's a sign that FedEx's customers around the world are choosing slower, cheaper delivery options to save money. FedEx's stock fell $1.74 to $85.80. 

"It's one more piece of news that suggests that the global economy is slowing and therefore makes central bank action more likely," said Brian Gendreau, market strategist at the investment advisory firm Cetera Financial. 

Federal Reserve chairman Ben Bernanke has said the central bank is inclined to provide new stimulus to the U.S. economy if it's needed. Investors will get more guidance Friday when the government releases its monthly report on employment, which is considered one of the most important barometers for the world's largest economy. 

The Dow Jones industrial average closed up 11.54 points at 13,047.48 on Wednesday. The Standard & Poor's 500 index fell 1.50 points to 1,403.44. The Nasdaq composite index lost 5.79 points to 3,069.27. 

Earlier, the Labor Department reported that U.S. companies got more productivity from their workers this spring than originally estimated. Productivity increased at an annual rate of 2.2 percent in the April-June quarter, up from an initial estimate of a 1.6 percent gain. Labor costs rose at an annual rate of 1.5 percent, slightly lower than the 1.7 percent initially estimated. 

Stock indexes were mostly higher in Europe and the yields on government bonds issued by Spain and Italy moved lower, a positive sign that investors are becoming more optimistic about the ability of those countries to repay their debts. 

Benchmark indexes rose 0.5 percent in Germany and 0.2 percent in France. 

 *The NYSE DOW closed  	HIGHER ▲	11.54	points or ▲	0.09%	Wednesday, 5 September 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,047.48	▲	11.54	▲	0.09%	
	Nasdaq____	3,069.27	▼	-5.79	▼	-0.19%	
	S&P_500__	1,403.44	▼	-1.50	▼	-0.11%	
	30_Yr_Bond	2.705	▲	0.02	▲	0.60%	

NYSE Volume	 2,782,315,750 			 		 	
Nasdaq Volume	 1,491,424,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,657.86	▼	-14.15	▼	-0.25%	
	DAX_____	6,964.69	▲	32.11	▲	0.46%	
	CAC_40__	3,405.79	▲	6.75	▲	0.20%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,297.70	▼	-27.90	▼	-0.64%	
	Shanghai_Comp	2,037.68	▼	-5.97	▼	-0.29%	
	Taiwan_Weight	7,367.44	▼	-83.91	▼	-1.13%	
	Nikkei_225____	8,679.82	▼	-95.69	▼	-1.09%	
	Hang_Seng____	19,145.07	▲	53.93	▼	-1.47%	
	Strait_Times___	2,995.90	▼	-15.65	▼	-0.52%	
	NZX_50_Index__	3,669.65	▼	-6.38	▼	-0.17%	

http://finance.yahoo.com/news/stocks-barely-move-fedex-sinks-201210663.html

*Stocks barely move; FedEx sinks on profit warning

Stocks barely changed on Wall Street; market is checked by FedEx's weak profit outlook*

By Pallavi Gogoi, AP Business Writer

U.S. stock prices are closing mixed, held in check by a warning from the huge package delivery company FedEx that its profits would be hurt because of a slowdown in the global economy. 

FedEx cited weakness in its express package delivery business. That's a sign that FedEx's customers around the world are choosing slower, cheaper delivery options to save money. FedEx's stock fell $1.74 to $85.80. 

"It's one more piece of news that suggests that the global economy is slowing and therefore makes central bank action more likely," said Brian Gendreau, market strategist at the investment advisory firm Cetera Financial. 

Federal Reserve chairman Ben Bernanke has said the central bank is inclined to provide new stimulus to the U.S. economy if it's needed. Investors will get more guidance Friday when the government releases its monthly report on employment, which is considered one of the most important barometers for the world's largest economy. 

The Dow Jones industrial average closed up 11.54 points at 13,047.48 on Wednesday. The Standard & Poor's 500 index fell 1.50 points to 1,403.44. The Nasdaq composite index lost 5.79 points to 3,069.27. 

Earlier, the Labor Department reported that U.S. companies got more productivity from their workers this spring than originally estimated. Productivity increased at an annual rate of 2.2 percent in the April-June quarter, up from an initial estimate of a 1.6 percent gain. Labor costs rose at an annual rate of 1.5 percent, slightly lower than the 1.7 percent initially estimated. 

Stock indexes were mostly higher in Europe and the yields on government bonds issued by Spain and Italy moved lower, a positive sign that investors are becoming more optimistic about the ability of those countries to repay their debts. 

Benchmark indexes rose 0.5 percent in Germany and 0.2 percent in France. 

European Central bank President Mario Draghi is expected to reveal details Thursday of a new bond-buying program aimed at cutting borrowing costs for Spain and Italy, the latest flash points in Europe's government debt crisis. Without some way to reduce the interest rates on the bonds they sell, the two nations could be pushed into asking for a bailout, following a path taken by Greece, Ireland and Portugal. 

Among other stocks making big moves: 

”” Facebook gained 85 cents, or 5 percent, to $18.58 after its CEO Mark Zuckerberg said he would not sell any shares for a year. The company also announced a major stock buyback. 

”” Hartford Financial Services Group closed at $18.05, up 35 cents, or 2 percent. The insurer and wealth manager said it had agreed to sell its retirement plans business to Massachusetts Mutual Life Insurance for $400 million. 

”” Nokia fell 45 cents, or 16 percent, to $2.38. The Finnish company announced a new Windows-based smartphone in New York. Nokia faces tough competition from Apple, which is expected to announce its latest version of the iPhone next week. 

”” Safeway gained 68 cents, or 4 percent, to $16.50. The supermarket chain said it plans to take its gift card business Blackhawk Network Holdings public by the first half of 2013.


----------



## bigdog

Source: http://finance.yahoo.com 

The last time the stock market was this high, the Great Recession was just getting started and stocks were pointed toward a head-first descent. 

But on Thursday, the market moved swiftly in the other direction. The Standard & Poor's 500 index soared to its highest level since January 2008, and the Dow Jones industrial average hit its highest mark since December 2007. 

A concrete plan to support struggling countries in Europe provided the necessary jolt, and the gains were extraordinarily broad. European markets surged and U.S. Treasury bond prices dropped as traders sold low-risk investments. All but 13 stocks in the S&P 500 index rose. 

"There's just a sea of green," said JJ Kinahan, TD Ameritrade's chief derivatives strategist. "It's pretty fun." 

At a long-awaited meeting Thursday, Mario Draghi, the president of the European Central Bank, unveiled a new program to buy government bonds from the region's struggling countries with the aim of lowering their borrowing costs. Draghi said the program will have no set limit on how much it can buy. 

Kinahan praised Draghi for two details in the plan. He didn't declare a limit for the bond-buying program and said it wouldn't put itself first in line in the event of a default, something investors had been clamoring for. Both details should make other investors more willing to buy government bonds along with the ECB. 

"In a situation where it was easy to have a slip-up, it seems like he did everything right," Kinahan said. 

The Standard & Poor's 500 index soared 28.68 points to close at 1,432.12. The Dow jumped 244.52 points to 13,292. 

The Nasdaq composite index also reached a milestone, gaining 66.54 points to 3,135.81. That's its highest level in 12 years. 

European stock markets soared in response to Draghi's announcement. Germany's DAX and France's CAC-40 each rallied 3 percent. 

The gains were even larger in Spain and Italy, the two largest countries to get caught up in the region's long-running government debt crisis. Spain's benchmark index soared 5 percent, Italy's 4 percent. 

 *The NYSE DOW closed  	HIGHER ▲	244.52	points or ▲	1.87%	Thursday, 6 September 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,292.00	▲	244.52	▲	1.87%	
	Nasdaq____	3,135.81	▲	66.55	▲	2.17%	
	S&P_500__	1,432.12	▲	28.68	▲	2.04%	
	30_Yr_Bond	2.799	▲	0.09	▲	3.48%	

NYSE Volume	 3,919,527,250 			 		 	
Nasdaq Volume	 1,928,157,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,777.34	▲	119.48	▲	2.11%	
	DAX_____	7,167.33	▲	202.64	▲	2.91%	
	CAC_40__	3,509.88	▲	104.09	▲	3.06%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,331.60	▲	33.90	▲	0.79%	
	Shanghai_Comp	2,051.92	▲	14.24	▲	0.70%	
	Taiwan_Weight	7,326.72	▼	-40.72	▼	-55.00%	
	Nikkei_225____	8,680.57	▲	0.75	▲	0.01%	
	Hang_Seng____	19,209.30	▲	53.93	▲	0.34%	
	Strait_Times___	2,990.17	▼	-5.73	▼	-0.19%	
	NZX_50_Index__	3,693.54	▲	23.89	▲	0.65%	

http://finance.yahoo.com/news/stocks-soar-ecb-unveils-bond-143356692.html

*Stocks soar after ECB unveils bond buying effort

Stocks jump to four-year highs after European Central Bank steps in to support weak countries*

By Bernard Condon, AP Business Writers

The last time the stock market was this high, the Great Recession was just getting started and stocks were pointed toward a head-first descent. 

But on Thursday, the market moved swiftly in the other direction. The Standard & Poor's 500 index soared to its highest level since January 2008, and the Dow Jones industrial average hit its highest mark since December 2007. 

A concrete plan to support struggling countries in Europe provided the necessary jolt, and the gains were extraordinarily broad. European markets surged and U.S. Treasury bond prices dropped as traders sold low-risk investments. All but 13 stocks in the S&P 500 index rose. 

"There's just a sea of green," said JJ Kinahan, TD Ameritrade's chief derivatives strategist. "It's pretty fun." 

At a long-awaited meeting Thursday, Mario Draghi, the president of the European Central Bank, unveiled a new program to buy government bonds from the region's struggling countries with the aim of lowering their borrowing costs. Draghi said the program will have no set limit on how much it can buy. 

Kinahan praised Draghi for two details in the plan. He didn't declare a limit for the bond-buying program and said it wouldn't put itself first in line in the event of a default, something investors had been clamoring for. Both details should make other investors more willing to buy government bonds along with the ECB. 

"In a situation where it was easy to have a slip-up, it seems like he did everything right," Kinahan said. 

The Standard & Poor's 500 index soared 28.68 points to close at 1,432.12. The Dow jumped 244.52 points to 13,292. 

The Nasdaq composite index also reached a milestone, gaining 66.54 points to 3,135.81. That's its highest level in 12 years. 

European stock markets soared in response to Draghi's announcement. Germany's DAX and France's CAC-40 each rallied 3 percent. 

The gains were even larger in Spain and Italy, the two largest countries to get caught up in the region's long-running government debt crisis. Spain's benchmark index soared 5 percent, Italy's 4 percent. 

The interest rates on Spain and Italy's government bonds sank, a sign investors anticipate a surge in demand for them when the European Central Bank starts its bond purchase program. Spain's benchmark 10-year bond yield fell to 6 percent from 6.39 percent. Italy's comparable bond yield fell to 5.21 percent from 5.43 percent. 

Traders shifted money out of U.S. Treasury bonds, considered one of the world's safest places to stash money, and the drop in demand lifted yields. The yield on the 10-year Treasury note rose to 1.67 percent, up from 1.60 percent late Wednesday. 

In an encouraging sign for the U.S. job market, a report from the payroll processor ADP said businesses added 201,000 jobs last month, the most reported by the survey since March. 

Separately, the Labor Department said the number of people applying for unemployment benefits fell by 12,000 last week to 365,000. That figure won't affect the August jobs report, due out Friday, but could be a sign of a better hiring this month. 

Even before Thursday's surge, the stock rally has been one for the record books. 

Last month, Jim Paulsen, chief investment strategist at Wells Fargo Capital Management, published a report showing the more than doubling of stock prices from a recessionary low in March 2009 has surpassed every post-World War II stock rally. 

"We've been told from the start that this stock market was going to be low return and high risk, but it's turned out to be the best ever," said Paulsen, as the S&P was shooting higher Thursday. "Fear was way overdone."


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks on Wall Street close slightly higher following a weak US employment report for August

The stock market followed one of its most exciting days of the year with a rather dull one Friday. Indexes barely rose following a weak jobs report, which increased hopes that the Federal Reserve would act next week to support the economy. 

The gains, while meager, kept major market indexes at their highest levels in more than four years following a massive surge the day before. 

The Dow Jones industrial average rose 14.64 points to close at 13,306.64. The Standard & Poor's 500 was up 5.80 points to 1,437.92. The Nasdaq composite barely moved, up 0.61 points at 3,136.42. 

The government reported that 96,000 jobs were created in the U.S. last month, fewer than economists had forecast. The unemployment rate fell to 8.1 percent from 8.3 percent, but only because more people gave up looking for work. 

Tech bellwether Intel dealt a blow to the market early in the day by cutting its revenue outlook because of weak demand for its semiconductors. Intel fell 90 cents, or nearly 4 percent, to $24.19. 

The flat trading for the major indexes Friday followed big gains Thursday. U.S. stocks hit four-year highs after the European Central Bank announced plans to buy an unlimited amount of short-term government bonds from struggling countries in the region such as Italy and Spain. The hope is that the borrowing costs of those countries will fall, making a breakup of the 17-nation euro zone less likely. 

Steven Ricchiuto, chief economist at Mizuho Securities, said the weak U.S. jobs report means the Federal Reserve is more likely to announce steps at its meeting next week to keep interest rates low and encourage lending. He thinks the Fed will announce that it will hold benchmark rates near zero through 2015 and, possibly, launch a third round of bond purchases. 

"The economy is still struggling, and so it's subject to shocks from overseas," Ricchiuto said. "We're going to get more stimulus from the Fed." 

Shortly after jobs numbers were released, analysts from RBS told investors in a note that they see the likelihood of the Fed announcing new bond purchases next week at 90 percent. "We expect the Fed to act in September," they wrote. 

Most major markets in Europe rose, too. Benchmark indexes rose 0.7 percent in Germany and 0.3 percent in France. Italy's main index rose 2 percent. 

 *The NYSE DOW closed  	HIGHER ▲	14.64	points or ▲	0.11%	Friday, 7 September 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,306.64	▲	14.64	▲	0.11%	
	Nasdaq____	3,136.42	▲	0.61	▲	0.02%	
	S&P_500__	1,437.92	▲	5.80	▲	0.40%	
	30_Yr_Bond	2.830	▲	0.03	▲	0.96%	

NYSE Volume	 3,693,814,250 			 		 	
Nasdaq Volume	 1,739,657,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,794.80	▲	17.46	▲	0.30%	
	DAX_____	7,214.50	▲	47.17	▲	0.66%	
	CAC_40__	3,519.05	▲	9.17	▲	0.26%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,348.80	▲	17.20	▲	0.40%	
	Shanghai_Comp	2,127.76	▲	75.84	▲	3.70%	
	Taiwan_Weight	7,424.91	▲	98.19	▲	1.34%	
	Nikkei_225____	8,871.65	▲	191.08	▲	2.20%	
	Hang_Seng____	19,802.16	▲	53.93	▲	3.09%	
	Strait_Times___	3,011.70	▲	22.44	▲	0.75%	
	NZX_50_Index__	3,722.18	▲	28.64	▲	0.78%	

http://finance.yahoo.com/news/us-stocks-rise-slightly-weak-201428695.html

*US stocks rise slightly after weak jobs report

Stocks on Wall Street close slightly higher following a weak US employment report for August*

By Bernard Condon, AP Business Writer

The stock market followed one of its most exciting days of the year with a rather dull one Friday. Indexes barely rose following a weak jobs report, which increased hopes that the Federal Reserve would act next week to support the economy. 

The gains, while meager, kept major market indexes at their highest levels in more than four years following a massive surge the day before. 

The Dow Jones industrial average rose 14.64 points to close at 13,306.64. The Standard & Poor's 500 was up 5.80 points to 1,437.92. The Nasdaq composite barely moved, up 0.61 points at 3,136.42. 

The government reported that 96,000 jobs were created in the U.S. last month, fewer than economists had forecast. The unemployment rate fell to 8.1 percent from 8.3 percent, but only because more people gave up looking for work. 

Tech bellwether Intel dealt a blow to the market early in the day by cutting its revenue outlook because of weak demand for its semiconductors. Intel fell 90 cents, or nearly 4 percent, to $24.19. 

The flat trading for the major indexes Friday followed big gains Thursday. U.S. stocks hit four-year highs after the European Central Bank announced plans to buy an unlimited amount of short-term government bonds from struggling countries in the region such as Italy and Spain. The hope is that the borrowing costs of those countries will fall, making a breakup of the 17-nation euro zone less likely. 

Steven Ricchiuto, chief economist at Mizuho Securities, said the weak U.S. jobs report means the Federal Reserve is more likely to announce steps at its meeting next week to keep interest rates low and encourage lending. He thinks the Fed will announce that it will hold benchmark rates near zero through 2015 and, possibly, launch a third round of bond purchases. 

"The economy is still struggling, and so it's subject to shocks from overseas," Ricchiuto said. "We're going to get more stimulus from the Fed." 

Shortly after jobs numbers were released, analysts from RBS told investors in a note that they see the likelihood of the Fed announcing new bond purchases next week at 90 percent. "We expect the Fed to act in September," they wrote. 

Most major markets in Europe rose, too. Benchmark indexes rose 0.7 percent in Germany and 0.3 percent in France. Italy's main index rose 2 percent. 

In U.S. trading, materials companies rose 2 percent, the biggest gain among the S&P 500's ten industry sectors. The biggest losers were consumer staples, down 0.8 percent. 

Intel followed several other major companies in reducing its profit forecast, including FedEx. The world's second-largest package delivery company lowered its forecast for earnings earlier this week, citing the slowing global economy. 

Overall, for every three companies in the S&P 500 telling investors to lower their expectations for future earnings, only one is saying to raise them, according to S&P Capital IQ, a research firm. 

Wall Street analysts estimate earnings for companies in the S&P 500 will fall 1.8 percent in the current quarter, the first drop since the Great Recession, according to S&P Capital IQ. They expect earnings grew 0.9 percent in the April-June quarter, the slowest quarterly pace in three years. 

Among stocks making big moves, Pandora Media plunged $2.10, or 17 percent, to $10.47 after the Wall Street Journal reported that Apple is working on a rival service that could hurt the online radio company. 

Amazon rose $7.76, or 3 percent, to $259.14. The company unveiled four new Kindle tablet computers Thursday, including ones with larger color screens. 

Smith & Wesson rose $1.07, or 12 percent, to $10.07 on surging gun sales and a raised profit forecast. The gun company said it expects earnings for the quarter ending October to climb to as much as twice what analysts had expected. 

Dell rose 12 cents, or 1 percent, to $10.64 after announcing it would pay a dividend of eight cents per share in October. It is the computer maker's first cash dividend. 

Glencore International fell 14 cents, or nearly 4 percent, to $3.78. The commodities trader said it is prepared to raise its offer to buy mining company Xstrata PLC. Xstrata rose 35 cents, or nearly 4 percent, to $10.14 

More than two stocks rose for every one that fell on the New York Stock Exchange. Trading volume was light at 3.7 billion.

8183


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks slipped on Wall Street as troubling economic news from China and the U.S. outweighed optimism about more stimulus from the Federal Reserve. 

The Dow Jones industrial average fell 52.35 points to close at 13,254.29 on Monday. The Standard & Poor's 500 slipped 8.84 points to 1,429.08 and the Nasdaq composite fell 32.40 points to 3,104.02. 

The S&P 500 and Nasdaq were dragged down more than the Dow by a drop in Apple's stock, the largest component of both indexes. Apple, which is expected to announce its new iPhone on Wednesday, fell $17.70, or 2.6 percent, to $662.74. 

The stumble marks a pause in a rally last week that took the Dow and the S&P 500 to their highest levels in more than four years. 

Stock markets rose around the world last week after the European Central Bank announced a long-anticipated plan to support struggling countries in the European Union. 

Investors are hopeful that the Fed will act this week to support the U.S. economy. The monetary policymaking body of the Federal Reserve meets on Wednesday and Thursday. Many anticipate a third round of bond purchases or other support for the financial system. 

Federal Reserve chairman Ben Bernanke indicated in a speech last month that the central bank is inclined to provide new stimulus to the U.S. economy if it's needed. 

Since the speech, the government reported weak growth in jobs last month, heightening the case for more stimulus. There have also been new signs that manufacturing and construction are slowing down. 

 *The NYSE DOW closed  	LOWER ▼	-52.35	points or ▼	-0.39%	Monday, 10 September 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,254.29	▼	-52.35	▼	-0.39%	
	Nasdaq____	3,104.02	▼	-32.40	▼	-1.03%	
	S&P_500__	1,429.08	▼	-8.84	▼	-0.61%	
	30_Yr_Bond	2.842	▲	0.02	▲	0.57%	

NYSE Volume	 3,226,086,500 			 		 	
Nasdaq Volume	 1,578,805,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,793.20	▼	-1.60	▼	-0.03%	
	DAX_____	7,213.70	▼	-0.80	▼	-0.01%	
	CAC_40__	3,506.05	▼	-13.00	▼	-0.37%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,358.00	▲	9.20	▲	0.21%	
	Shanghai_Comp	2,134.89	▲	7.13	▲	0.34%	
	Taiwan_Weight	7,482.74	▲	57.83	▲	0.78%	
	Nikkei_225____	8,869.37	▼	-2.28	▼	-0.03%	
	Hang_Seng____	19,827.17	▲	53.93	▲	0.13%	
	Strait_Times___	3,008.72	▼	-2.98	▼	-0.10%	
	NZX_50_Index__	3,726.90	▲	4.72	▲	0.13%	

http://finance.yahoo.com/news/stocks-end-lower-ahead-fed-201753830.html

*Stocks end lower ahead of Fed meeting

Weak economic news from China, US weighs on stocks; Indexes slip head of Fed meeting*

By Pallavi Gogoi, AP Business Writer 

Stocks slipped on Wall Street as troubling economic news from China and the U.S. outweighed optimism about more stimulus from the Federal Reserve. 

The Dow Jones industrial average fell 52.35 points to close at 13,254.29 on Monday. The Standard & Poor's 500 slipped 8.84 points to 1,429.08 and the Nasdaq composite fell 32.40 points to 3,104.02. 

The S&P 500 and Nasdaq were dragged down more than the Dow by a drop in Apple's stock, the largest component of both indexes. Apple, which is expected to announce its new iPhone on Wednesday, fell $17.70, or 2.6 percent, to $662.74. 

The stumble marks a pause in a rally last week that took the Dow and the S&P 500 to their highest levels in more than four years. 

Stock markets rose around the world last week after the European Central Bank announced a long-anticipated plan to support struggling countries in the European Union. 

Investors are hopeful that the Fed will act this week to support the U.S. economy. The monetary policymaking body of the Federal Reserve meets on Wednesday and Thursday. Many anticipate a third round of bond purchases or other support for the financial system. 

Federal Reserve chairman Ben Bernanke indicated in a speech last month that the central bank is inclined to provide new stimulus to the U.S. economy if it's needed. 

Since the speech, the government reported weak growth in jobs last month, heightening the case for more stimulus. There have also been new signs that manufacturing and construction are slowing down. 

On Monday, the Fed also reported that Americans cut back on their credit card use in July for the second straight month, suggesting many remain cautious in the face of high unemployment and slow economic growth. Total borrowing dipped $3.3 billion in July from June to a seasonally adjusted $2.705 trillion. 

"The economy is not going through a nosedive, so I'm not sure we need another stimulus," said John Manley, chief equity strategist at Wells Fargo Advantage Funds. "But Bernanke would rather make a mistake going in early with stimulus than not, especially since the markets will not tolerate inaction." 

There were also discouraging news out of China, giving investors more reason to worry that one of the most important engines of the global economy is sputtering. Auto sales growth slowed in August and imports shrank unexpectedly. Factory output also slid to three-year low last month. The Chinese president warned growth could slow further. 

Among stocks that made big moves: 

”” Sprint Nextel climbed 2.4 percent after the country's third-largest cellphone company was upgraded by an analyst, who said the company's ongoing network revamp would save it money. The stock rose 12 cents to $5.15. 

”” LeapFrog Enterprises dropped 80 cents, or almost 9 percent, to $8.35. The educational toy maker's LeapPad product will face new competition from Toys R Us, which announced plans to launch its own tablet computer aimed at children next month. 

”” American International Group fell after the U.S. government said Sunday it was selling shares in the insurer that would decrease its holdings below a majority stake for the first time since the bailout of AIG in 2008. AIG's stock lost 69 cents, or 2 percent, to $33.30. 

”” Shares of Geron Corp. plunged 56 percent after the company announced two setbacks for its experimental cancer drug. Geron has ended one study and does not expect the drug to succeed in a second. Its stock fell $1.62 to $1.28.


----------



## bigdog

Source: http://finance.yahoo.com 

Investors spent Tuesday preparing for two events sure to move markets this week: a Federal Reserve meeting and a court decision on whether Germany can help support its struggling neighbors. And if the stock market's gains Tuesday are any sign, they expect both events to turn out well. 

The Dow Jones industrial average rose 69.07 points to close at 13,323.36. The average of 30 large company stocks has already gained 1.8 percent to start September, a month which is usually dismal for stocks. 

Bank of America led the 30 stocks in the Dow, rising 5 percent, or 45 cents, to $9.03. 

Federal Reserve officials will gather for a two-day meeting on Wednesday. Many expect the Fed will announce a new effort to revive the sluggish economy Thursday afternoon. 

On the same day the Fed starts its meeting, Germany's high court is expected to rule on whether the country can participate in a European bailout fund. The court rejected a last-minute appeal to delay the decision on Tuesday. 

"It's going to get interesting this week," said Randy Frederick, managing director of active trading and derivatives at the brokerage Charles Schwab. 

Frederick expects the Fed will make some sort of move, especially after the government reported last Friday that employers added fewer than 100,000 jobs in August. 

"Prior to the employment report people weren't as sure," Frederick said. "I am definitely on the majority side here. There's some sort of easing coming." 

In other trading, the Standard & Poor's 500 index rose 4.48 points to 1,433.56. The Nasdaq composite increased 0.51 of a point to 3,104.53. 

The assumption that the Fed will announce new stimulus measures is so widespread that some worry the market could take a plunge if the Fed fails to deliver. 

 *The NYSE DOW closed  	HIGHER ▲	69.07	points or ▲	0.52%	Tuesday, 11 September 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,323.36	▲	69.07	▲	0.52%	
	Nasdaq____	3,104.53	▲	0.51	▲	0.02%	
	S&P_500__	1,433.56	▲	4.48	▲	0.31%	
	30_Yr_Bond	2.846	▲	0.00	▲	0.14%	

NYSE Volume	 3,497,889,000 			 		 	
Nasdaq Volume	 1,585,562,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,792.19	▼	-1.01	▼	-0.02%	
	DAX_____	7,310.11	▲	96.41	▲	1.34%	
	CAC_40__	3,537.30	▲	31.25	▲	0.89%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,348.30	▼	-9.70	▼	-0.22%	
	Shanghai_Comp	2,120.55	▼	-14.34	▼	-0.67%	
	Taiwan_Weight	7,485.13	▲	2.39	▲	0.03%	
	Nikkei_225____	8,807.38	▼	-61.99	▼	-0.70%	
	Hang_Seng____	19,857.88	▲	53.93	▲	0.15%	
	Strait_Times___	3,016.02	▲	7.30	▲	0.24%	
	NZX_50_Index__	3,744.96	▲	18.05	▲	0.48%	

http://finance.yahoo.com/news/us-stocks-rise-ahead-fed-134428053.html

*US stocks rise ahead of Fed meeting

Stocks head higher ahead of a busy week; Fed begins two-day meeting Wednesday*

By Matthew Craft, AP Business Writer 

Investors spent Tuesday preparing for two events sure to move markets this week: a Federal Reserve meeting and a court decision on whether Germany can help support its struggling neighbors. And if the stock market's gains Tuesday are any sign, they expect both events to turn out well. 

The Dow Jones industrial average rose 69.07 points to close at 13,323.36. The average of 30 large company stocks has already gained 1.8 percent to start September, a month which is usually dismal for stocks. 

Bank of America led the 30 stocks in the Dow, rising 5 percent, or 45 cents, to $9.03. 

Federal Reserve officials will gather for a two-day meeting on Wednesday. Many expect the Fed will announce a new effort to revive the sluggish economy Thursday afternoon. 

On the same day the Fed starts its meeting, Germany's high court is expected to rule on whether the country can participate in a European bailout fund. The court rejected a last-minute appeal to delay the decision on Tuesday. 

"It's going to get interesting this week," said Randy Frederick, managing director of active trading and derivatives at the brokerage Charles Schwab. 

Frederick expects the Fed will make some sort of move, especially after the government reported last Friday that employers added fewer than 100,000 jobs in August. 

"Prior to the employment report people weren't as sure," Frederick said. "I am definitely on the majority side here. There's some sort of easing coming." 

In other trading, the Standard & Poor's 500 index rose 4.48 points to 1,433.56. The Nasdaq composite increased 0.51 of a point to 3,104.53. 

The assumption that the Fed will announce new stimulus measures is so widespread that some worry the market could take a plunge if the Fed fails to deliver. 

Ron Florance, managing director of investment strategy at Wells Fargo Private Bank in Scottsdale, Ariz., said he's always wary when stocks rise on nothing more than expectations. 

"These are the things that make you nervous, when markets are going strong in anticipation of news," Florance said. 

On Tuesday, the Commerce Department reported that exports to Europe dropped 11.7 percent in July, stoking concerns that Europe's troubles could smother the U.S. recovery. Overall U.S. exports fell 1 percent to $183.3 billion, lowered by weaker sales of autos, telecom equipment and heavy machinery. 

Morgan Stanley and Citigroup rose after the two banks settled a dispute over how much to value their jointly owned brokerage firm, Morgan Stanley Smith Barney. The deal cleared the way for Morgan Stanley to buy Citigroup's stake. Citi gained 83 cents to $32.66. Morgan Stanley rose 64 cents to $17.25. 

A profit warning from luxury clothing chain Burberry helped tug down other high-end retailers in early trading. Burberry said slowing sales to China will likely weaken earnings. Ralph Lauren lost $4.09 to $156.22. Tiffany & Co. sank 78 cents to $62.26. 

Among other stocks making moves: 

”” Legg Mason jumped 5 percent following reports that its CEO will step down Oct. 1. Clients have been pulling money out of the money manager's funds, weakening revenue. Legg Mason's stock surged $1.38 to $26.85. 

”” Hewlett-Packard gained 52 cents to $17.95, a 3 percent gain. The computer and printer maker said late Monday that it will cut 29,000 jobs by October 2014, or 2,000 more than it had previously planned. Sales of personal computers have slumped as people favor smartphones and lightweight tablet computers.


----------



## bigdog

Source: http://finance.yahoo.com 

The Dow remains at its highest level since December 2007, the beginning of the Great Recession. It's 6 percent shy of the all-time high it hit two months earlier, in October 2007. 

The stock market edged higher Wednesday after a court cleared the way for Germany to participate in a European rescue fund. Attention shifted to the Federal Reserve, which began a big two-day meeting. 

The highest court in Germany ruled that the country could contribute to Europe's $640 billion rescue fund to help indebted governments. The ruling offered investors relief, but not much more. 

The issue was "more speed bump than hurdle," Dan Greenhaus, chief global strategist at the brokerage BTIG, told clients. "More legislative and political challenges lay ahead. Today's ruling simply does nothing to change that larger story." 

The Dow Jones industrial average climbed 9.99 points to close at 13,333.35, a four-year closing high. The Standard & Poor's 500 index added an even 3 points to 1,436.56, also close to a four-year high. 

The ruling helped push Germany's main stock index, the DAX, to its highest level since July of last year. The euro rose to a four-month high against the dollar. 

When the Fed wraps up its meeting Thursday, investors and economists expect it to announce new steps to stimulate economic growth, especially after a Labor Department report showed employers added fewer than 100,000 jobs last month. 

Many investors are banking that the Fed will commit to buying more bonds and extend its pledge to keep short-term interest rates near zero until 2015. The Fed previously offered to keep them there until late 2014. 

"Everyone is expecting the Fed to put the pedal to the metal," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. "Anything short of that and we could have some serious disappointment if the Fed doesn't come through. No news will be bad news." 

 *The NYSE DOW closed  	HIGHER ▲	9.99	points or ▲	0.07%	Wednesday, 12 September 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,333.35	▲	9.99	▲	0.07%	
	Nasdaq____	3,114.31	▲	9.78	▲	0.32%	
	S&P_500__	1,436.56	▲	3.00	▲	0.21%	
	30_Yr_Bond	2.926	▲	0.08	▲	2.81%	

NYSE Volume	 3,556,215,750 			 		 	
Nasdaq Volume	 1,680,025,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,782.08	▼	-10.11	▼	-0.17%	
	DAX_____	7,343.53	▲	33.42	▲	0.46%	
	CAC_40__	3,543.79	▲	6.49	▲	0.18%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,383.10	▲	34.80	▲	0.80%	
	Shanghai_Comp	2,126.55	▲	6.00	▲	0.28%	
	Taiwan_Weight	7,570.45	▲	85.32	▲	1.14%	
	Nikkei_225____	8,959.96	▲	152.58	▲	1.73%	
	Hang_Seng____	20,075.39	▲	53.93	▲	1.10%	
	Strait_Times___	3,029.66	▲	13.26	▲	0.44%	
	NZX_50_Index__	3,789.72	▲	44.76	▲	1.20%	

http://finance.yahoo.com/news/us-stocks-rise-investors-wait-172330962.html

*US stocks rise, and investors wait for the Fed

US stocks higher after German court clears way for European bailout fund; Fed on deck*

By Matthew Craft, AP Business Writer

The stock market edged higher Wednesday after a court cleared the way for Germany to participate in a European rescue fund. Attention shifted to the Federal Reserve, which began a big two-day meeting. 

The highest court in Germany ruled that the country could contribute to Europe's $640 billion rescue fund to help indebted governments. The ruling offered investors relief, but not much more. 

The issue was "more speed bump than hurdle," Dan Greenhaus, chief global strategist at the brokerage BTIG, told clients. "More legislative and political challenges lay ahead. Today's ruling simply does nothing to change that larger story." 

The Dow Jones industrial average climbed 9.99 points to close at 13,333.35, a four-year closing high. The Standard & Poor's 500 index added an even 3 points to 1,436.56, also close to a four-year high. 

The ruling helped push Germany's main stock index, the DAX, to its highest level since July of last year. The euro rose to a four-month high against the dollar. 

When the Fed wraps up its meeting Thursday, investors and economists expect it to announce new steps to stimulate economic growth, especially after a Labor Department report showed employers added fewer than 100,000 jobs last month. 

Many investors are banking that the Fed will commit to buying more bonds and extend its pledge to keep short-term interest rates near zero until 2015. The Fed previously offered to keep them there until late 2014. 

"Everyone is expecting the Fed to put the pedal to the metal," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. "Anything short of that and we could have some serious disappointment if the Fed doesn't come through. No news will be bad news." 

Ablin was skeptical that the Fed would begin another bond-buying program. The Fed hatched two previous efforts when economic figures looked bleaker than today. The first came in March 2009, right after the financial crisis. Both programs ignited stock rallies. 

The economy has plenty of problems now, "but there are some great things happening, too," Ablin said. 

In fact, he was about to give a talk detailing reasons for optimism. Falling prices for natural gas, for instance, could usher in a shift to a cheaper, cleaner fuel source for vehicles than crude oil. And the housing market has begun to come back. 

In other trading Wednesday, the tech-heavy Nasdaq composite index climbed 9.78 points to 3,114.31. Apple's stock added $9.20 to $669.79 following the unveiling of its latest, slimmer iPhone. 

Facebook's stock jumped 8 percent. Mark Zuckerberg, the social networking company's founder, reportedly said that Facebook would work on generating profit from users who use the social network on their phones. The stock gained $1.50 to $20.93. 

The Dow and the S&P 500, the benchmark for most stock funds, have already surged about 2 percent in September, usually a grim month for the stock market. 

The indexes reached four-year highs last Thursday when news out of Europe set off a worldwide rally. The European Central Bank laid out a concrete plan to support the region's struggling countries through buying their government bonds. 

The Dow remains at its highest level since December 2007, the beginning of the Great Recession. It's 6 percent shy of the all-time high it hit two months earlier, in October 2007.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market staged a huge rally Thursday after investors got the aggressive economic help they wanted from the Federal Reserve. 

The Dow Jones industrial average spiked more than 200 points and cleared 13,500 for the first time since the beginning of the Great Recession. The average is within 625 points of its all-time high. 

The Fed said it would spend $40 billion a month, for as long as it takes, to stimulate the economy by buying mortgage securities ”” and perhaps buy more if the job market doesn't improve. 

The central bank also extended its pledge of super-low short-term interest rates into 2015, extended a program to drive down long-term rates and promised to maintain "highly accommodative" policy even after the economy strengthens. 

It was the package known as QE3 ”” a third round of quantitative easing, in market-speak. And it was just what investors were hoping for. 

"They're saying that the punch bowl, the fuel for the economy, isn't going away ”” it's going to be here as long as you need it," said Tony Fratto, a former aide to President George W. Bush and managing partner at Hamilton Place Strategies, a policy consulting firm in Washington. 

The Dow closed up 206.51 points, the seventh-biggest gain this year, at 13,539.86, its highest close since the last days of December 2007, the first month of the recession. 

The broader Standard & Poor's 500 index was up 23.43 points at 1,459.99, also its highest since December 2007. The Nasdaq composite index, which has been trading at its highest levels since 2000, was up 41.52 at 3,155.83. 

David Abuaf, chief investment officer at Hefty Wealth Partners, said he expects investors to keep shifting from safer assets like government bonds to stocks. That could push stock prices higher and start a cycle of increased wealth and spending. 

"People will feel more confident, consumers will buy more goods, and GDP growth will increase," he said, referring to the gross domestic product, or economic output. 

The stock market had already enjoyed a summer rally, in part because investors were betting on more Fed action. The Dow has climbed more than 1,100 points since the start of June. 

 *The NYSE DOW closed  	HIGHER ▲	206.51	points or ▲	1.55%	Thursday, 13 September 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,539.86	▲	206.51	▲	1.55%	
	Nasdaq____	3,155.83	▲	41.51	▲	1.33%	
	S&P_500__	1,459.99	▲	23.43	▲	1.63%	
	30_Yr_Bond	2.967	▲	0.04	▲	1.40%	

NYSE Volume	 4,553,678,500 			 		 	
Nasdaq Volume	 1,883,901,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,819.92	▲	37.84	▲	0.65%	
	DAX_____	7,310.32	▼	-33.21	▼	-0.45%	
	CAC_40__	3,502.09	▼	-41.70	▼	-1.18%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,359.80	▼	-23.30	▼	-0.53%	
	Shanghai_Comp	2,110.38	▼	-16.18	▼	-0.76%	
	Taiwan_Weight	7,578.80	▲	8.35	▲	0.11%	
	Nikkei_225____	8,995.15	▲	35.19	▲	0.39%	
	Hang_Seng____	20,047.63	▲	53.93	▼	-0.14%	
	Strait_Times___	3,028.11	▼	-1.55	▼	-0.05%	
	NZX_50_Index__	3,786.04	▼	-3.68	▼	-0.10%	

http://finance.yahoo.com/news/fed-s...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*The Fed steps in, and stocks soar: Dow climbs 206

US stocks soar after Fed announces more help; Dow hits four-year high*

By Bernard Condon, AP Business Writer

The stock market staged a huge rally Thursday after investors got the aggressive economic help they wanted from the Federal Reserve. 

The Dow Jones industrial average spiked more than 200 points and cleared 13,500 for the first time since the beginning of the Great Recession. The average is within 625 points of its all-time high. 

The Fed said it would spend $40 billion a month, for as long as it takes, to stimulate the economy by buying mortgage securities ”” and perhaps buy more if the job market doesn't improve. 

The central bank also extended its pledge of super-low short-term interest rates into 2015, extended a program to drive down long-term rates and promised to maintain "highly accommodative" policy even after the economy strengthens. 

It was the package known as QE3 ”” a third round of quantitative easing, in market-speak. And it was just what investors were hoping for. 

"They're saying that the punch bowl, the fuel for the economy, isn't going away ”” it's going to be here as long as you need it," said Tony Fratto, a former aide to President George W. Bush and managing partner at Hamilton Place Strategies, a policy consulting firm in Washington. 

The Dow closed up 206.51 points, the seventh-biggest gain this year, at 13,539.86, its highest close since the last days of December 2007, the first month of the recession. 

The broader Standard & Poor's 500 index was up 23.43 points at 1,459.99, also its highest since December 2007. The Nasdaq composite index, which has been trading at its highest levels since 2000, was up 41.52 at 3,155.83. 

David Abuaf, chief investment officer at Hefty Wealth Partners, said he expects investors to keep shifting from safer assets like government bonds to stocks. That could push stock prices higher and start a cycle of increased wealth and spending. 

"People will feel more confident, consumers will buy more goods, and GDP growth will increase," he said, referring to the gross domestic product, or economic output. 

The stock market had already enjoyed a summer rally, in part because investors were betting on more Fed action. The Dow has climbed more than 1,100 points since the start of June. 

Still, stocks spiked Thursday in industries across the economy. Materials companies, which tend to do well when the economy picks up, enjoyed the biggest gain ”” 2.6 percent as a group. Bank stocks also surged. 

This is the third round of bond-buying by the Fed since the financial crisis struck in the fall of 2008. The goal is to lower long-term interest rates, get people to borrow and spend more and push investors into stocks. 

If history is any guide, stocks could rally a bit more. In the three months following March 2009, when the Fed said it would expand its first round of buying, the S&P 500 rose 18 percent. In the three months after the central bank hinted at a second round of buying in August 2010, the S&P rose 14 percent. 

Some economists and investors have warned that the bond-buying will have a limited impact because interest rates are already near record lows. 

Critics of the stock rally note that the Fed is taking action because the U.S. economy is weak, and that economic growth in China is slowing and much of Europe is in recession and struggling with high debt. 

Earlier this month, Mario Draghi, the head of the European Central Bank, said the central bank would buy the debt of countries that use the euro and are desperate to keep their borrowing costs down. 

"I'm not buying anything," Gary Flam of Bel Air Investment Advisors said as Fed Chairman Ben Bernanke spoke at a press conference. 

Flam added, referring to Draghi and Bernanke: "These two guys are propping up market in the hope it will trickle down to the economy, but after several years of this we haven't seen a sustainable impact. The underlying problems of debt and deficits remain." 

The Fed also lowered its outlook for economic growth this year to no stronger than 2 percent. That's down from its forecast of 2.4 percent in June. 

In Treasury trading, the yield on the benchmark 10-year note fell slightly to 1.73 percent from 1.79 percent late Wednesday. It had spiked to 1.84 percent as investors sold bonds after the Fed announcement. 

The dollar fell slightly against major currencies. It tumbled almost a penny against the euro, which rose to a hair under $1.30. 

The price of gold climbed to its highest level since February ”” $1,772 an ounce, a gain of $38, or 2 percent. When the Fed buys bonds, gold often rises, both because investors fear inflation and because a weaker dollar makes gold more expensive. 

The trading day didn't begin well. European markets were falling and U.S. futures slid, suggesting stocks might fall when U.S. markets opened. 

In addition to worries about what the Fed might do, investors were rattled by turmoil in the Middle East. Protesters stormed the U.S. Embassy compound in Yemen's capital earlier in the day, and there was violence around the U.S. mission in Cairo. The U.S. ambassador to Libya was killed Tuesday. 

Stocks rose after the open but barely. Then the Fed released a statement about its moves shortly after 12:30 p.m., and prices began to climb steadily. Some Fed watchers homed in on a pledge to keep stimulating the economy for a "considerable" time "after" it appears to have strengthened. That is stronger language than the central bank had used before. 

Then Bernanke started speaking at the press conference at around 2:15, and stocks shot up. A few minutes into the conference, the Dow was up nearly 240 points. 

In other news Thursday, the Labor Department reported that the number of people seeking unemployment benefits jumped last week to the highest level in two months, though the figures were skewed in part by Hurricane Isaac. 

The figures come after a disappointing jobs report last week. Employers added only 96,000 jobs in August, far below the average 226,000 a month added in the January-March quarter. 

The government also said that wholesale prices rose 1.7 percent in August, the most in three years. They were driven up by higher costs for gas and food. Removing the impact of energy and food, however, the increase in prices has been mild. 

Among stocks making moves, Pall Corp. rose $4.63, or 8 percent, to $62.80. The company, which makes filtration equipment, posted net income that beat Wall Street predictions. 

Apple climbed $13.19, or 2 percent, to $682.98. On Wednesday, the company unveiled an iPhone with a bigger screen and faster download speeds. 

On Wednesday, the Dow rose to a four-year high after Germany's highest court rejected calls to block the creation of Europe's rescue fund for indebted governments. 

The Fed action combined with the Middle East turmoil pushed crude prices up to above $98 a barrel of the first time in more than four months. Thursday. Oil rose $1.30 to close at $98.31 on the New York Mercantile Exchange. 

There were nearly four stocks rising for every one falling. Volume was high, 4.5 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market rose again Friday because of economic help from the Federal Reserve. But even some of the buyers weren't believers. 

The Dow Jones industrial average hit its highest close since the pre-crisis days of November 2007. The Russell 2000 index of smaller companies briefly traded above its all-time closing high. 

Markets rallied around the world in places where traders were getting their first chance to react to the Fed announcement: Stocks climbed more than 2 percent in India and France and almost 2 percent in Japan and Germany. 

Apple, the most valuable company in American history, blew through its own all-time high and neared $700 per share as it started taking orders for the iPhone 5. 

The gains came on top of a 206-point climb for the Dow on Thursday, when the Fed laid out additional plans to try to energize the economy, including buying $40 billion a month in mortgage bonds for as long as necessary. 

But a day later, even with the market rising, plenty of investors were unconvinced. They bought stock, but they also worried that the Fed can't do much to fix the economy and predicted that the stock market gains would be short-lived. 

Tyler Vernon, chief investment officer of Biltmore Capital in Princeton, N.J., wanted to capitalize on the market euphoria while he could. That the Fed is still taking such aggressive steps to boost the economy, four years after the financial crisis, doesn't give him much comfort. 

The Fed, Vernon said, is "like the morphine being pumped into the patient. It keeps the patient walking and talking." 

The Dow rose as much as 113 points Friday before pulling back. It ended up 53.51 points to 13,593.37. It is a 4 percent rally away from its all-time high of 14,164, reached Oct. 9, 2007. 

The Standard & Poor's 500 rose 5.78 to 1,465.77, almost exactly 1,000 points below its all-time high. The Nasdaq composite index, which has been trading at the highest levels since 2000, climbed 28.12 to 3,183.95. 

The Russell, which tracks 2,000 stocks with market values below $5 billion, closed at 854.70, a hair under its all-time high of 865.29 on April 29, 2011. Because the index contains small companies, it is seen as a gauge of investors' risk tolerance. 

In the steps it laid out Thursday, the Fed extended its pledge of super-low short-term interest rates into 2015, from its previous target of 2014. Its plan to buy mortgage bonds is part of a strategy known as quantitative easing, designed to get people and businesses to borrow and spend, and to raise stock prices. 

 *The NYSE DOW closed  	HIGHER ▲	53.51	points or ▲	0.40%	Friday, 14 September 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,593.37	▲	53.51	▲	0.40%	
	Nasdaq____	3,183.95	▲	28.12	▲	0.89%	
	S&P_500__	1,465.77	▲	5.78	▲	0.40%	
	30_Yr_Bond	3.088	▲	0.12	▲	4.08%	

NYSE Volume	 4,983,496,000 			 		 	
Nasdaq Volume	 1,979,255,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,915.55	▲	95.63	▲	1.64%	
	DAX_____	7,412.13	▲	101.81	▲	1.39%	
	CAC_40__	3,581.58	▲	79.49	▲	2.27%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,410.20	▲	50.40	▲	1.16%	
	Shanghai_Comp	2,123.85	▲	13.47	▲	0.64%	
	Taiwan_Weight	7,738.05	▲	159.25	▲	2.10%	
	Nikkei_225____	9,159.39	▲	164.24	▲	1.83%	
	Hang_Seng____	20,629.78	▲	53.93	▲	2.90%	
	Strait_Times___	3,070.42	▲	40.28	▲	1.33%	
	NZX_50_Index__	3,792.34	▲	6.30	▲	0.17%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks higher for 2nd day after Fed action

Stocks move higher for 2nd day after Fed action; Apple hits an all-time high*

By Christina Rexrode, Associated Press 

The stock market rose again Friday because of economic help from the Federal Reserve. But even some of the buyers weren't believers. 

The Dow Jones industrial average hit its highest close since the pre-crisis days of November 2007. The Russell 2000 index of smaller companies briefly traded above its all-time closing high. 

Markets rallied around the world in places where traders were getting their first chance to react to the Fed announcement: Stocks climbed more than 2 percent in India and France and almost 2 percent in Japan and Germany. 

Apple, the most valuable company in American history, blew through its own all-time high and neared $700 per share as it started taking orders for the iPhone 5. 

The gains came on top of a 206-point climb for the Dow on Thursday, when the Fed laid out additional plans to try to energize the economy, including buying $40 billion a month in mortgage bonds for as long as necessary. 

But a day later, even with the market rising, plenty of investors were unconvinced. They bought stock, but they also worried that the Fed can't do much to fix the economy and predicted that the stock market gains would be short-lived. 

Tyler Vernon, chief investment officer of Biltmore Capital in Princeton, N.J., wanted to capitalize on the market euphoria while he could. That the Fed is still taking such aggressive steps to boost the economy, four years after the financial crisis, doesn't give him much comfort. 

The Fed, Vernon said, is "like the morphine being pumped into the patient. It keeps the patient walking and talking." 

The Dow rose as much as 113 points Friday before pulling back. It ended up 53.51 points to 13,593.37. It is a 4 percent rally away from its all-time high of 14,164, reached Oct. 9, 2007. 

The Standard & Poor's 500 rose 5.78 to 1,465.77, almost exactly 1,000 points below its all-time high. The Nasdaq composite index, which has been trading at the highest levels since 2000, climbed 28.12 to 3,183.95. 

The Russell, which tracks 2,000 stocks with market values below $5 billion, closed at 854.70, a hair under its all-time high of 865.29 on April 29, 2011. Because the index contains small companies, it is seen as a gauge of investors' risk tolerance. 

In the steps it laid out Thursday, the Fed extended its pledge of super-low short-term interest rates into 2015, from its previous target of 2014. Its plan to buy mortgage bonds is part of a strategy known as quantitative easing, designed to get people and businesses to borrow and spend, and to raise stock prices. 

To be sure, investors can find other reasons to buy besides the Fed action. Corporate profits are high, and stocks are not expensive by historical standards when compared to earnings. 

The psychological effect of the Fed's action is important for the economy as well: If the Fed weren't buttressing the stock market and the Dow were thousands of points lower, consumers would feel less wealthy and cut spending. 

But that didn't have everyone convinced that the Fed's moves will make much difference in the end. 

Jeff Sica, president and chief investment officer of SICA Wealth Management in Morristown, N.J., was underwhelmed by the Fed's commitment to keep interest rates low. Short-term interest rates have been near zero for years, he noted. 

"How many times can you refinance your house?" Sica said. 

Dwight Johnston, chief economist of the California and Nevada Credit Union Leagues, expected the stock market gains to be short-lived ”” just like they were after other central bank moves, he said. 

"The definition of insanity is doing the same thing over and over again and expecting different results," Johnston said. "I think this may qualify." 

Data out Friday also underscored the tenuous state of the economy. U.S. industrial production fell in August by the largest amount in more than three years, the Fed reported. 

Also, high gas prices drove up consumer prices in August by the most in three years, the Labor Department said. The national average for a gallon of gas is around $3.87, a hardship for many families. 

Among other stocks making notable moves: 

”” The Children's Place clothing store rose $1.85, or 3 percent, to $60.67 after a Citi analyst opened coverage of the company with a "buy" rating. 

”” The Cracker Barrel restaurant chain slipped $2.04, or 3 percent, to $64.13 after a KeyBanc analyst cut his rating to "hold" from "buy," citing high food costs. 

”” Staples was up 25 cents, or 2 percent, to $12.21 after Fortune magazine reported that private-equity firms are considering buying the office-supply company.

8778


----------



## bigdog

Source: http://finance.yahoo.com 

After surging over four days to near pre-recession highs, stocks slipped further from that goal Monday following a new sign of a slowdown in the U.S. economy and worries over Europe's struggle to keep its currency union intact. 

All three major indexes were down, though barely. The Dow Jones industrial average fell 40.27 points, or 0.3 percent, to 13,553.10. 

U.S. stocks are coming off a surge last week that sent the S&P 500 to its highest level in nearly five years. Investors bought stocks on news that the Federal Reserve planned to buy mortgage bonds in an effort to get people to borrow and spend more. 

Dampening investor spirits was an Empire State Manufacturing Survey suggesting that conditions for New York manufacturers continued to weaken in September. That followed news from the Fed on Friday that U.S. industrial production fell in August by the largest amount in more than three years. 

"We're not completely out of the woods economically, and that's weighing on markets," said Wasif Latif, vice president of equity investments at USAA Investments. He added that, as indexes hover at multi-year highs, "psychological barriers and technical barriers may be tough to breach." 

Apple rose $8.50 to $699.78, a new high for the stock market's most valuable company. The company said advance sales for its iPhone 5 available later this week are running at double the rate for its previous version of the phone. 

The Standard & Poor's 500 fell 4.58 to 1,461.19. The Nasdaq composite lost 5.28 to 3,178.67. 

Six of the ten major industry sectors in the S&P 500 fell, led by materials stocks, down 1.5 percent. Banks and other financial companies were also hit hard, down 1.1 percent. 

Energy stocks lost 0.8 percent, climbing back from steeper losses in the afternoon following a plunge in oil that left traders guessing as to the cause. Benchmark crude fell to $96.62, a loss of $2.38, or 2.4 percent, the biggest fall since late July. 

Stocks dropped since the opening bell, following overseas markets lower. In Europe, benchmark indexes fell 0.8 percent in France and 0.9 percent in Italy. 

 *The NYSE DOW closed  	LOWER ▼	-40.27	points or ▼	-0.30%	Monday, 17 September 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,553.10	▼	-40.27	▼	-0.30%	
	Nasdaq____	3,178.67	▼	-5.28	▼	-0.17%	
	S&P_500__	1,461.19	▼	-4.58	▼	-0.31%	
	30_Yr_Bond	3.032	▼	-0.06	▼	-1.81%	

NYSE Volume	 3,275,275,000 			 		 	
Nasdaq Volume	 1,518,874,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,893.52	▼	-22.03	▼	-0.37%	
	DAX_____	7,403.69	▼	-8.44	▼	-0.11%	
	CAC_40__	3,553.69	▼	-27.89	▼	-0.78%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,421.80	▲	11.60	▲	0.26%	
	Shanghai_Comp	2,078.50	▼	-45.35	▼	-2.14%	
	Taiwan_Weight	7,762.22	▲	24.17	▲	0.31%	
	Nikkei_225____	9,159.39	▲	164.24	▲	1.83%	
	Hang_Seng____	20,658.11	▲	53.93	▲	0.14%	
	Strait_Times___	3,078.72	▲	8.30	▲	0.27%	
	NZX_50_Index__	3,817.23	▲	24.89	▲	0.66%	

http://finance.yahoo.com/news/us-st...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*US stocks slip; Apple hits new high

US stocks slip after weak factory data, worries over Europe; Apple hits new high*

By Bernard Condon, AP Business Writer							

 After surging over four days to near pre-recession highs, stocks slipped further from that goal Monday following a new sign of a slowdown in the U.S. economy and worries over Europe's struggle to keep its currency union intact. 

All three major indexes were down, though barely. The Dow Jones industrial average fell 40.27 points, or 0.3 percent, to 13,553.10. 

U.S. stocks are coming off a surge last week that sent the S&P 500 to its highest level in nearly five years. Investors bought stocks on news that the Federal Reserve planned to buy mortgage bonds in an effort to get people to borrow and spend more. 

Dampening investor spirits was an Empire State Manufacturing Survey suggesting that conditions for New York manufacturers continued to weaken in September. That followed news from the Fed on Friday that U.S. industrial production fell in August by the largest amount in more than three years. 

"We're not completely out of the woods economically, and that's weighing on markets," said Wasif Latif, vice president of equity investments at USAA Investments. He added that, as indexes hover at multi-year highs, "psychological barriers and technical barriers may be tough to breach." 

Apple rose $8.50 to $699.78, a new high for the stock market's most valuable company. The company said advance sales for its iPhone 5 available later this week are running at double the rate for its previous version of the phone. 

The Standard & Poor's 500 fell 4.58 to 1,461.19. The Nasdaq composite lost 5.28 to 3,178.67. 

Six of the ten major industry sectors in the S&P 500 fell, led by materials stocks, down 1.5 percent. Banks and other financial companies were also hit hard, down 1.1 percent. 

Energy stocks lost 0.8 percent, climbing back from steeper losses in the afternoon following a plunge in oil that left traders guessing as to the cause. Benchmark crude fell to $96.62, a loss of $2.38, or 2.4 percent, the biggest fall since late July. 

Stocks dropped since the opening bell, following overseas markets lower. In Europe, benchmark indexes fell 0.8 percent in France and 0.9 percent in Italy. 

Investors in Europe sold partly on signs that setting up a new authority overseeing European banks could take longer than expected following a disappointing meeting of the region's financial ministers over the weekend. The new authority would be able to bail out banks directly. Investors are worried that collapsing banks in the region could spread panic, leading to a breakup of the monetary union. 

After the surge in U.S. stocks last week, the Dow Jones industrial average came with 4 percent of its all-time high of 14,164 on Oct. 9, 2007. Two month later, the Great Recession began, as did a painful spiral down in stock prices to 12-year lows. 

In the Empire State survey, the general business conditions index slipped five points to minus 10.4, its second consecutive negative reading. The new orders index fell nine points to minus 14.0, its third straight negative reading. Both reached their lowest levels in almost two years. 

Also on Monday, China filed a World Trade Organization case challenging U.S. anti-dumping measures on billions of dollars of kitchen appliances, paper and other goods, further straining trade relations as global demand weakens. 

Earlier, the Obama administration said it would file its own WTO case this week. It says China improperly subsidizes exports of cars and car parts. 

Among stocks making big moves Monday, Office Depot Inc. rose 13 cents, or 5 percent, to $2.60 after an investment firm pushing for changes at the office-supply chain announced it had become the retailer's largest shareholder. Office Depot has struggled recently because businesses have cut spending at its stores as the economy slowed. 

Iris International Inc., a maker of medical test products, jumped $6.12, or 46 percent, to $19.54 after its board agreed to sell the company to Danaher Corp., a health care and industrial manufacturer. 

More than two stocks fell for every one that rose on the New York Stock Exchange. Volume was light at 3.2 billion shares. 

On Tuesday, the National Association of Home Builders releases its survey for September sales. The government follows on Wednesday with data on both housing starts and existing home sales


----------



## bigdog

Source: http://finance.yahoo.com 

Glum economic news from FedEx left stocks mixed on Tuesday. 

The Dow Jones industrial average posted a slight gain, but other indexes fell. Declining stocks outnumbered those that advanced. And seven of the 10 industries tracked by the Standard & Poor's 500 index declined. 

European stocks fell. So did oil prices. 

FedEx said it sees a worldwide economy that has stalled. Investors pay close attention to the company's forecasts because its package delivery business spans the globe and offers a window into how the economy is doing. 

FedEx reduced its fiscal-year profit forecast sharply because its customers used its express air delivery service less in favor of slower and cheaper ground service. FedEx's stock fell $2.73, or 3.1 percent, to close at $86.55. 

Apple climbed above $700 for the first time, rising $2.13 to close at $701.91. Apple shares have risen more than 19 percent in the past three months. The recent gain has been driven by strong sales of the company's iPhone and related gadgets. 

Stocks broadly have been on a strong run. The S&P 500 is up 14 percent since June 1. 

"The market is at high levels, certainly due for a pullback, and I suspect we'll probably see one," said Peter Cardillo, chief market economist at Rockwell Global Capital. 

The S&P 500 index fell 1.87 points to close at 1,459.32. The Nasdaq closed down 0.87 point at 3,177.80. The Dow rose 11.54 points to 13,564.64. 

Markets had rallied sharply last week after the Federal Reserve announced aggressive measures intended to kick-start the economy. This week, investors appear more focused on the weak growth that caused the Fed to act in the first place. 

The Fed's announcement was for open-ended asset purchases, noted Charlie Smith, chief investment officer for Fort Pitt Capital Group in Pittsburgh. 

 *The NYSE DOW closed  	HIGHER ▲	11.54	points or ▲	0.09%	Tuesday, 18 September 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,564.64	▲	11.54	▲	0.09%	
	Nasdaq____	3,177.80	▼	-0.87	▼	-0.03%	
	S&P_500__	1,459.32	▼	-1.87	▼	-0.13%	
	30_Yr_Bond	3.032	▲	0.00	▲	0.00%	

NYSE Volume	 3,350,341,500 			 		 	
Nasdaq Volume	 1,707,952,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,868.16	▼	-25.36	▼	-0.43%	
	DAX_____	7,347.69	▼	-56.00	▼	-0.76%	
	CAC_40__	3,512.69	▼	-41.00	▼	-1.15%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,417.80	▼	-4.00	▼	-0.09%	
	Shanghai_Comp	2,059.54	▼	-18.96	▼	-0.91%	
	Taiwan_Weight	7,734.26	▼	-27.96	▼	-0.36%	
	Nikkei_225____	9,123.77	▼	-35.62	▼	-0.39%	
	Hang_Seng____	20,601.93	▲	53.93	▼	-0.27%	
	Strait_Times___	3,067.98	▼	-10.74	▼	-0.35%	
	NZX_50_Index__	3,804.48	▼	-12.76	▼	-0.33%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks mixed after FedEx gives a glum outlook

Stocks mixed as investors focus on economic woes; FedEx sees global economy worsening*

By Joshua Freed, AP Business Writer

Glum economic news from FedEx left stocks mixed on Tuesday. 

The Dow Jones industrial average posted a slight gain, but other indexes fell. Declining stocks outnumbered those that advanced. And seven of the 10 industries tracked by the Standard & Poor's 500 index declined. 

European stocks fell. So did oil prices. 

FedEx said it sees a worldwide economy that has stalled. Investors pay close attention to the company's forecasts because its package delivery business spans the globe and offers a window into how the economy is doing. 

FedEx reduced its fiscal-year profit forecast sharply because its customers used its express air delivery service less in favor of slower and cheaper ground service. FedEx's stock fell $2.73, or 3.1 percent, to close at $86.55. 

Apple climbed above $700 for the first time, rising $2.13 to close at $701.91. Apple shares have risen more than 19 percent in the past three months. The recent gain has been driven by strong sales of the company's iPhone and related gadgets. 

Stocks broadly have been on a strong run. The S&P 500 is up 14 percent since June 1. 

"The market is at high levels, certainly due for a pullback, and I suspect we'll probably see one," said Peter Cardillo, chief market economist at Rockwell Global Capital. 

The S&P 500 index fell 1.87 points to close at 1,459.32. The Nasdaq closed down 0.87 point at 3,177.80. The Dow rose 11.54 points to 13,564.64. 

Markets had rallied sharply last week after the Federal Reserve announced aggressive measures intended to kick-start the economy. This week, investors appear more focused on the weak growth that caused the Fed to act in the first place. 

The Fed's announcement was for open-ended asset purchases, noted Charlie Smith, chief investment officer for Fort Pitt Capital Group in Pittsburgh. 

"The feeling on the Street is, 'OK, what can they do next?' and by definition there's nothing more they can do than what they announced," he said. That means investors may feel that they've gotten all of the gains they're going to get after the Fed's announcement, he said. 

Ed Hyland, managing director at JP Morgan Private Bank, said it's noteworthy that the market hasn't pulled back more after its recent run-up. 

"It will be interesting to see, as we move into earnings season, how the market will react to what we think will be a little bit weaker earnings and macro data," he said. 

Also on Tuesday, the Commerce Department reported that the current account deficit, the broadest measure of American trade, dropped 12.1 percent in the second quarter. That's down from a record high in the January-through-March quarter. 

The deficit shrank because of an increase in American exports and cheaper oil. But economists are predicting it will grow again because of the global slowdown. 

In other corporate news: 

”” Energizer Holdings Inc. jumped $7.30, or 10.7 percent, to $75.22 after the battery and flashlight maker said it will cut jobs and reduce its overhead. 

”” Advanced Micro Devices plunged 39 cents, or 9.7 percent, to $3.62 after the world's second-largest maker of microprocessors for personal computers announced unexpectedly that its chief financial officer was leaving. 

”” Clearwire Corp. fell 16 cents, or 10.4 percent, to $1.38 after Time Warner Cable Inc. said it would sell its 7.8 percent stake in the wireless infrastructure company. 

The price of oil fell $1.33 to $95.29 per barrel on the New York Mercantile Exchange. Oil had hit $100 per barrel in recent days but dropped sharply late Monday as concerns about the lethargic economy persisted. 

Stocks fell in Europe, too, after signs that it will take longer than expected to set up a new authority to supervise European banks. 

The CAC-40 in France was down 1 percent, the FTSE-100 in Britain fell 0.4 percent, and the DAX in Germany was down 0.8 percent. 

The yield on the 10-year U.S. Treasury note fell to 1.82 percent from 1.84 percent late Monday.


----------



## bigdog

Source: http://finance.yahoo.com 

A pair of encouraging reports about the housing market gave U.S. stocks a little boost Wednesday. 

Home sales jumped to the highest level in more than two years in August, the National Association of Realtors said. Sales rose 7.8 percent to a seasonally adjusted annual rate of 4.82 million, the most since May 2010. 

Earlier, the government reported that construction of single-family homes in August also was the fastest in more than two years. 

Stocks of homebuilders, already up after the construction report, rose sharply after 10 a.m., when the jump in home sales was reported. D.R. Horton Inc. rose 87 cents, or 4.1 percent, to $22.22; Beazer Homes USA Inc. rose 22 cents, or 6.2 percent, to $3.75; and KB Home rose 46 cents, or 3.6 percent, to $13.16. 

The gains for broader stock indexes were muted. At its high for the day, the Dow Jones industrial average was up just 62 points. 

The housing numbers "are fantastic news," but traders continue to worry about recent discouraging signals this week like downgrades of railroads and a warning from Federal Express that the global economy is slowing, said JJ Kinahan, chief derivatives strategist for TD Ameritrade, a retail brokerage. 

"The market is at a bit of a conundrum," Kinahan said. "There are just constantly these mixed signals about what's going on." 

The Dow closed up 13.32 points, or 0.1 percent, at 13,577.96. The Dow is just a 4 percent rally shy of its all-time high of 14,164, reached Oct. 9, 2007. 

The Standard & Poor's 500 index rose 1.73 points, or 0.1 percent, to 1,461.05. Telecom and consumer discretionary stocks added the most among the industry groups in the S&P 500 index. 

Energy stocks suffered as the price of oil fell $3.31, or 3.5 percent, to $91.98 per barrel. Traders are questioning whether economic growth is strong enough to justify a recent run-up to $100 per barrel. Crude is down 7 percent this week. 

The Nasdaq composite index rose 4.82 points, or 0.2 percent, to 3,182.62. 

 *The NYSE DOW closed  	HIGHER ▲	13.32	points or ▲	0.10%	Wednesday, 19 September 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,577.96	▲	13.32	▲	0.10%	
	Nasdaq____	3,182.62	▲	4.82	▲	0.15%	
	S&P_500__	1,461.05	▲	1.73	▲	0.12%	
	30_Yr_Bond	3.030	▲	0.00	▲	0.00%	

NYSE Volume	 3,409,506,250 			 		 	
Nasdaq Volume	 1,827,667,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,888.48	▲	20.32	▲	0.35%	
	DAX_____	7,390.76	▲	43.07	▲	0.59%	
	CAC_40__	3,531.82	▲	19.13	▲	0.54%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,440.40	▲	22.60	▲	0.51%	
	Shanghai_Comp	2,067.83	▲	8.29	▲	0.40%	
	Taiwan_Weight	7,781.91	▲	47.65	▲	0.62%	
	Nikkei_225____	9,232.21	▲	108.44	▲	1.19%	
	Hang_Seng____	20,841.91	▲	53.93	▲	1.16%	
	Strait_Times___	3,075.63	▲	7.65	▲	0.25%	
	NZX_50_Index__	3,797.90	▼	-6.58	▼	-0.17%	

http://finance.yahoo.com/news/encouraging-reports-housing-lift-us-200842363.html

*Encouraging reports about housing lift US stocks

US stocks rise after home sales and housing starts reach fastest pace in more than 2 years*

By Daniel Wagner, AP Business Writer 

A pair of encouraging reports about the housing market gave U.S. stocks a little boost Wednesday. 

Home sales jumped to the highest level in more than two years in August, the National Association of Realtors said. Sales rose 7.8 percent to a seasonally adjusted annual rate of 4.82 million, the most since May 2010. 

Earlier, the government reported that construction of single-family homes in August also was the fastest in more than two years. 

Stocks of homebuilders, already up after the construction report, rose sharply after 10 a.m., when the jump in home sales was reported. D.R. Horton Inc. rose 87 cents, or 4.1 percent, to $22.22; Beazer Homes USA Inc. rose 22 cents, or 6.2 percent, to $3.75; and KB Home rose 46 cents, or 3.6 percent, to $13.16. 

The gains for broader stock indexes were muted. At its high for the day, the Dow Jones industrial average was up just 62 points. 

The housing numbers "are fantastic news," but traders continue to worry about recent discouraging signals this week like downgrades of railroads and a warning from Federal Express that the global economy is slowing, said JJ Kinahan, chief derivatives strategist for TD Ameritrade, a retail brokerage. 

"The market is at a bit of a conundrum," Kinahan said. "There are just constantly these mixed signals about what's going on." 

The Dow closed up 13.32 points, or 0.1 percent, at 13,577.96. The Dow is just a 4 percent rally shy of its all-time high of 14,164, reached Oct. 9, 2007. 

The Standard & Poor's 500 index rose 1.73 points, or 0.1 percent, to 1,461.05. Telecom and consumer discretionary stocks added the most among the industry groups in the S&P 500 index. 

Energy stocks suffered as the price of oil fell $3.31, or 3.5 percent, to $91.98 per barrel. Traders are questioning whether economic growth is strong enough to justify a recent run-up to $100 per barrel. Crude is down 7 percent this week. 

The Nasdaq composite index rose 4.82 points, or 0.2 percent, to 3,182.62. 

Earlier, Asian and European markets closed higher after the Bank of Japan announced a massive asset purchasing plan similar to what the Federal Reserve approved last week. Japan's main stock index hit a four-month high. 

The yield on the 10-year Treasury note fell to 1.78 percent from 1.81 percent late Tuesday as demand for safe investments increased. A bond's yield falls as its price rises. 

In corporate news, Cracker Barrel leapt $3.69, or 5.8 percent, to $67.31, after the purveyor of country cooking and homespun curios said it doubled its net income in the fiscal fourth quarter. 

General Mills rose 71 cents, or 1.8 percent, to $40.02 after saying its fiscal first-quarter net income increased 35 percent on strong foreign yogurt sales. 

AutoZone Inc. jumped $12, or 3.4 percent, to $369.84 after saying its fiscal fourth-quarter net income rose 7.4 percent on strong sales at new stores.


----------



## bigdog

Source: http://finance.yahoo.com 

A batch of worrying economic figures tugged stock markets slightly lower Thursday. Measures of manufacturing and business activity in both China and Europe slumped. 

In the U.S., the railroad Norfolk Southern warned that it's shipping fewer goods, and the government gave investors another reminder that the job market remains weak. 

The Standard & Poor's 500 index fell 0.79 of a point to close at 1,460.26. The Nasdaq composite index dropped 6.66 points to 3,175.96. Three stocks fell for every two that rose on the New York Stock Exchange. 

Stock-market indexes reached four-year highs last week after the Federal Reserve unveiled a new plan to support the economy. Clark Yingst, chief market analyst at the securities firm Joseph Gunnar, said economic reports continue to draw a picture of an economic recovery stuck in low gear. To Yingst, it's hard to find any reason for stocks to climb much higher. 

"You do have to wonder what the next catalyst is going to be," he said. 

The Labor Department reported that 382,000 people applied for unemployment benefits last week, more than economists had expected. When applications consistently top 375,000, it suggests hiring is too weak to lower the unemployment rate. 

More evidence of sluggishness came from Norfolk Southern. The railroad said late Thursday that falling coal prices and a drop in shipments will likely drag down quarterly earnings. That followed a warning from FedEx earlier this week that global trade has slumped to recession levels. Norfolk Southern's stock sank $6.58 to $66.11. 

In other trading, the Dow Jones industrial average gained 18.97 points to 13,596.93. Kraft Foods led the Dow up with a 1.9 percent surge, ending up 76 cents at $41.60. 

 *The NYSE DOW closed  	HIGHER ▲	18.97	points or ▲	0.14%	Thursday, 20 September 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,596.93	▲	18.97	▲	0.14%	
	Nasdaq____	3,175.96	▼	-6.66	▼	-0.21%	
	S&P_500__	1,460.26	▼	-0.79	▼	-0.05%	
	30_Yr_Bond	3.030	▲	0.00	▲	0.00%	

NYSE Volume	 3,372,469,250 			 		 	
Nasdaq Volume	 1,811,161,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,854.64	▼	-33.84	▼	-0.57%	
	DAX_____	7,389.49	▼	-1.27	▼	-0.02%	
	CAC_40__	3,509.92	▼	-21.90	▼	-0.62%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,419.80	▼	-20.60	▼	-0.46%	
	Shanghai_Comp	2,024.84	▼	-42.99	▼	-2.08%	
	Taiwan_Weight	7,727.55	▼	-54.36	▼	-0.70%	
	Nikkei_225____	9,086.98	▼	-145.23	▼	-1.57%	
	Hang_Seng____	20,590.92	▲	53.93	▼	-1.20%	
	Strait_Times___	3,062.61	▼	-13.02	▼	-0.42%	
	NZX_50_Index__	3,819.28	▲	21.38	▲	0.56%	

http://finance.yahoo.com/news/us-stocks-global-markets-lower-135008901.html

*US stocks follow global markets lower

US stocks edge lower down as economic data from around the world point to turbulence*

By Matthew Craft, AP Business Writer

A batch of worrying economic figures tugged stock markets slightly lower Thursday. Measures of manufacturing and business activity in both China and Europe slumped. 

In the U.S., the railroad Norfolk Southern warned that it's shipping fewer goods, and the government gave investors another reminder that the job market remains weak. 

The Standard & Poor's 500 index fell 0.79 of a point to close at 1,460.26. The Nasdaq composite index dropped 6.66 points to 3,175.96. Three stocks fell for every two that rose on the New York Stock Exchange. 

Stock-market indexes reached four-year highs last week after the Federal Reserve unveiled a new plan to support the economy. Clark Yingst, chief market analyst at the securities firm Joseph Gunnar, said economic reports continue to draw a picture of an economic recovery stuck in low gear. To Yingst, it's hard to find any reason for stocks to climb much higher. 

"You do have to wonder what the next catalyst is going to be," he said. 

The Labor Department reported that 382,000 people applied for unemployment benefits last week, more than economists had expected. When applications consistently top 375,000, it suggests hiring is too weak to lower the unemployment rate. 

More evidence of sluggishness came from Norfolk Southern. The railroad said late Thursday that falling coal prices and a drop in shipments will likely drag down quarterly earnings. That followed a warning from FedEx earlier this week that global trade has slumped to recession levels. Norfolk Southern's stock sank $6.58 to $66.11. 

In other trading, the Dow Jones industrial average gained 18.97 points to 13,596.93. Kraft Foods led the Dow up with a 1.9 percent surge, ending up 76 cents at $41.60. 

Stronger earnings pushed ConAgra Foods up 6.2 percent. The maker of Healthy Choice packaged meals and Slim Jim beef jerky said its profit more than doubled, helped by lower food costs and a strong gain from a hedge on commodity prices. ConAgra's stock rose $1.59 to $27.24. 

The real-estate website Trulia soared 41 percent in its first day of trading. Trulia priced its initial public offering at $17 on Wednesday, raising $102 million. Trulia's stock closed at an even $24. 

The three major indexes have gained nearly 4 percent in September, historically the worst month for stocks. Since 1950, the S&P 500 has averaged a drop of 0.5 percent for the month. The Dow has lost an average of 0.8 percent. 

Among other stocks making moves: 

- Starbucks gained $1.08 to $51.19. The coffee giant said it will start selling a single-serve coffee machine starting at $199. The Verismo will compete with Green Mountain Coffee Roasters' Keurig machine and Nestle's Nespresso. 

- Bed Bath & Beyond dropped $6.71 to $62.08. The housewares company reported quarterly earnings late Wednesday that fell short of analysts' expectations and said profits will likely stay under pressure. 

- CarMax sank 6 percent after the chain of used-car dealers reported essentially flat quarterly net income, below analysts' expectations. Costs surged as CarMax opened more dealerships. Its stock lost $2.01 to $29.96.


----------



## bigdog

Source: http://finance.yahoo.com 

The market took a recess Friday from the Fed rally. 

Stocks have been pushing higher for weeks, not because investors think the economy is healed but because of expectations, then confirmation, that the Federal Reserve would step in and try to fix it. 

Most of Friday seemed like another day in the Fed rally, which began in earnest early this month, until stocks slipped in the late afternoon. The Dow Jones industrial average rose as much as 50 points before falling into the red in the last half-hour of trading. It's just the fourth day in September that the Dow hasn't managed a gain. 

Still, the declines were small. The Dow lost 17.46 points, or 0.1 percent, to 13,579.47. The Standard & Poor's 500 fell in the final minutes of trading, closing down a minuscule 0.11 point, or 0.01 percent, to 1,460.15. 

The other main index, the Nasdaq composite, rose four points, or 0.1 percent, to 3,179.96. 

Despite the Friday blip, stocks are still much higher than might be expected for such a morose economy. This month, the Dow and the S&P started trading at levels not seen since December 2007, nine months before the fall of Lehman Brothers investment bank. Since the start of June, the Dow has popped nearly 1,200 points. 

But the stock market's party mode doesn't mean the underlying economy is healed ”” far from it. The summer rally is mostly the result of vows by the Federal Reserve and other central banks, like the Bank of Japan and the European Central Bank, to do more to try to help. 

But the promises are also an unsettling reminder: The central banks think the economy is so bad that it can't bounce back on its own. 

 *The NYSE DOW closed  	LOWER ▼	-17.46	points or ▼	-0.13%	Friday, 21 September 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,579.47	▼	-17.46	▼	-0.13%	
	Nasdaq____	3,179.96	▲	4.00	▲	0.13%	
	S&P_500__	1,460.15	▼	-0.11	▼	-0.01%	
	30_Yr_Bond	3.030	▲	0.00	▲	0.00%	

NYSE Volume	 4,700,958,000 			 		 	
Nasdaq Volume	 2,536,100,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,852.62	▼	-2.02	▼	-0.03%	
	DAX_____	7,451.62	▲	62.13	▲	0.84%	
	CAC_40__	3,530.72	▲	20.80	▲	0.59%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,430.80	▲	11.00	▲	0.25%	
	Shanghai_Comp	2,026.69	▲	1.85	▲	0.09%	
	Taiwan_Weight	7,754.59	▲	27.04	▲	0.35%	
	Nikkei_225____	9,110.00	▲	23.02	▲	0.25%	
	Hang_Seng____	20,734.94	▲	53.93	▲	0.70%	
	Strait_Times___	3,078.23	▲	15.62	▲	0.51%	
	NZX_50_Index__	3,809.57	▼	-9.71	▼	-0.25%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks slip in late trading, after long Fed rally

Stocks slip in late trading, though Fed promises have propelled it higher for days*

By Christina Rexrode, AP Business Writer 

The market took a recess Friday from the Fed rally. 

Stocks have been pushing higher for weeks, not because investors think the economy is healed but because of expectations, then confirmation, that the Federal Reserve would step in and try to fix it. 

Most of Friday seemed like another day in the Fed rally, which began in earnest early this month, until stocks slipped in the late afternoon. The Dow Jones industrial average rose as much as 50 points before falling into the red in the last half-hour of trading. It's just the fourth day in September that the Dow hasn't managed a gain. 

Still, the declines were small. The Dow lost 17.46 points, or 0.1 percent, to 13,579.47. The Standard & Poor's 500 fell in the final minutes of trading, closing down a minuscule 0.11 point, or 0.01 percent, to 1,460.15. 

The other main index, the Nasdaq composite, rose four points, or 0.1 percent, to 3,179.96. 

Despite the Friday blip, stocks are still much higher than might be expected for such a morose economy. This month, the Dow and the S&P started trading at levels not seen since December 2007, nine months before the fall of Lehman Brothers investment bank. Since the start of June, the Dow has popped nearly 1,200 points. 

But the stock market's party mode doesn't mean the underlying economy is healed ”” far from it. The summer rally is mostly the result of vows by the Federal Reserve and other central banks, like the Bank of Japan and the European Central Bank, to do more to try to help. 

But the promises are also an unsettling reminder: The central banks think the economy is so bad that it can't bounce back on its own. 

"It's just a big illusion," said Bob Phillips, managing partner at Spectrum Management Group in Indianapolis. The economy, he said, is still a "no man's land" plagued by high unemployment and slow growth. 

The signs were obvious Friday: The Labor Department reported that the unemployment rate rose in 26 states last month. The World Trade Organization cut its estimates for growth in global trade for this year and next. 

In Europe, Spain was reportedly close to asking for a bailout from Europe. The finance minister of Germany, which has paid for much of the previous bailouts, shot back that Spain doesn't need it. 

It's all a reminder that there's only so much the Fed can do. It can't fix the fiscal cliff facing the U.S. government, the higher taxes and government spending cuts that take effect next year unless Congress acts. Others worry that the Fed has used up all the tricks that have previously fueled the stock market. 

Phillips said he's worried about "a nasty correction at the first hint of any less-than-stellar news." 

Timothy Leach, chief investment officer for U.S. Bank wealth management in San Francisco, said central banks are buying time more than fixing underlying problems. 

"But at least they're taking some of the pressure off," Leach added, "allowing policymakers some additional time to try to achieve those real solutions." 

Other big moves on the market: 

””The price of gold briefly hit a high for 2012 on the news that Spain might get extra bailout funds. Such rescue packages can often cause inflation, and many investors buy gold as a hedge against inflation 

””Homebuilder KB Home swung to a quarterly profit by selling pricier homes. KB Home's stock jumped $2.15, or more than 16 percent, to $15.26. 

”” Darden Restaurants, parent of Olive Garden and Red Lobster, reported a higher quarterly profit. The stock rose $2.49, or more than 4 percent, to $57.21.

9643


----------



## bigdog

Source: http://finance.yahoo.com 

U.S. stocks meandered sideways Monday as fears about Europe overshadowed recent excitement about central banks' efforts to boost the market. 

Stocks opened lower, recovered by mid-afternoon to nearly flat and closed down modestly. 

An index of business confidence in Germany, the biggest economy in Europe, fell for a fifth straight month. Many economists had expected it to at least remain flat. Some think Germany is headed for a recession. 

The threat of the years-old European debt crisis has seemed less immediate in recent weeks as central banks unveiled measures aimed at encouraging investment and boosting the global economy. The German report reignited those fears. 

Stocks had risen strongly in recent weeks as traders anticipated, then received, help from the Federal Reserve in the form of an open-ended bond-buying program. The Fed will buy $40 billion of mortgage bonds per month until the economy has improved. 

"It's not unusual after big moves for the market to, in essence, go quiet and wait for the next catalyst," said Quincy Krosby, market strategist with Prudential Financial. The next catalyst, Krosby said, is third-quarter earnings, which companies will begin to announce next month. 

The Dow Jones industrial average closed down 20.55 points, or 0.2 percent, at 13,558.92. The Standard & Poor's 500 index declined 3.26, or 0.2 percent, to 1,459.89. Its two strongest groups were utilities and telecommunications, safer stocks that tend to do well in a weaker economy. 

The Nasdaq composite index dropped 19.18 points, or 0.6 percent, to 3,160.78. The Nasdaq is heavy in technology shares, which were dragged lower by Apple.

 *The NYSE DOW closed  	LOWER ▼	-20.55	points or ▼	-0.15%	Monday, 24 September 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,558.92	▼	-20.55	▼	-0.15%	
	Nasdaq____	3,160.78	▼	-19.18	▼	-0.60%	
	S&P_500__	1,456.89	▼	-3.26	▼	-0.22%	
	30_Yr_Bond	3.032	▲	0.00	▲	0.00%	

NYSE Volume	 3,007,548,250 			 		 	
Nasdaq Volume	 1,711,043,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,838.84	▼	-13.78	▼	-0.24%	
	DAX_____	7,413.16	▼	-38.46	▼	-0.52%	
	CAC_40__	3,497.22	▼	-33.50	▼	-0.95%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,409.20	▼	-21.60	▼	-0.49%	
	Shanghai_Comp	2,033.19	▲	6.50	▲	0.32%	
	Taiwan_Weight	7,768.30	▲	13.71	▲	0.18%	
	Nikkei_225____	9,069.29	▼	-40.71	▼	-0.45%	
	Hang_Seng____	20,694.70	▲	53.93	▼	-0.19%	
	Strait_Times___	3,067.93	▼	-10.30	▼	-0.33%	
	NZX_50_Index__	3,809.15	▼	-0.42	▼	-0.01%	

http://finance.yahoo.com/news/us-st...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*US stocks drift as European gloom returns

US stocks drift sideways after German confidence weakens; Apple falls as iPhone misses target*

By Daniel Wagner, AP Business Writer 

U.S. stocks meandered sideways Monday as fears about Europe overshadowed recent excitement about central banks' efforts to boost the market. 

Stocks opened lower, recovered by mid-afternoon to nearly flat and closed down modestly. 

An index of business confidence in Germany, the biggest economy in Europe, fell for a fifth straight month. Many economists had expected it to at least remain flat. Some think Germany is headed for a recession. 

The threat of the years-old European debt crisis has seemed less immediate in recent weeks as central banks unveiled measures aimed at encouraging investment and boosting the global economy. The German report reignited those fears. 

Stocks had risen strongly in recent weeks as traders anticipated, then received, help from the Federal Reserve in the form of an open-ended bond-buying program. The Fed will buy $40 billion of mortgage bonds per month until the economy has improved. 

"It's not unusual after big moves for the market to, in essence, go quiet and wait for the next catalyst," said Quincy Krosby, market strategist with Prudential Financial. The next catalyst, Krosby said, is third-quarter earnings, which companies will begin to announce next month. 

The Dow Jones industrial average closed down 20.55 points, or 0.2 percent, at 13,558.92. The Standard & Poor's 500 index declined 3.26, or 0.2 percent, to 1,459.89. Its two strongest groups were utilities and telecommunications, safer stocks that tend to do well in a weaker economy. 

The Nasdaq composite index dropped 19.18 points, or 0.6 percent, to 3,160.78. The Nasdaq is heavy in technology shares, which were dragged lower by Apple. 

As in the U.S., the concern in Germany is that an economy on the rebound will be weighed down by the rest of the European countries, half of which are already in recession. 

Germany's economy grew 0.3 percent in the second quarter from the previous quarter, but a number of economists now believe the country will fall into a recession in the second half of the year. 

In the U.S., stocks have gone from underpriced to fairly priced, said Doug Cote, chief market strategist at ING Investment Management. If recent weakness in U.S. manufacturing is any guide, he said, traders will be disappointed next month by companies' quarterly results. 

"It will be a sea change ”” the first time in three years that we've had negative earnings growth," Cote said. He said China's abrupt economic slowdown is adding to corporate America's woes. 

If that happens, Krosby said, it could drive the market lower. Without enough positive surprises from companies this quarter, the Fed program probably won't be enough to extend the rally, she said. 

"There's an uneasy feeling surrounding the market," she said. 

In the U.S., traders are looking for more good news from the housing market, which appears to be bouncing back after being a stuck in a rut for years. The latest data on new and pending home sales will be released later in the week. 

Lennar on Monday became the latest builder to post surprisingly strong earnings. A rise in orders and the number of homes delivered, adding to a big tax benefit, had the Miami homebuilder quadrupling profits. KB Home on Friday did almost as well, and housing shares jumped on optimistic comments from its CEO, Stuart Miller. 

On Monday, Lennar closed down 55 cents, or 1.5 percent, at $36.96. KB Home fell 63 cents, or 4.1 percent, to $14.63. 

Apple fell after sales of the new iPhone 5 missed analysts' targets. The company sold 5 million units in three days. Its stock fell $9.31, or 1.3 percent, to $690.79. 

UnitedHealth Group was down slightly on its first day in the Dow, which shuffled its lineup of stocks to reflect health care's growing importance in the economy. UnitedHealth, the nation's largest health insurer, replaces Kraft Foods in the Dow. Its stock fell 20 cents, or 0.4 percent, to $55.98. 

Peregrine Pharmaceuticals Inc. stock collapsed after the cancer drug developer told analysts they should not rely on recently disclosed data about its lead product, a proposed lung cancer treatment. The stock fell $4.23, or 78.5 percent, to $1.16. 

The price of oil fell to around $92 a barrel, dragged down by concerns about weakening global growth and demand for crude. Benchmark crude fell 96 cents, or 1 percent, to settle at $91.93 per barrel on the New York Mercantile Exchange. 

Stronger demand for safe investments pushed the yield on the 10-year Treasury note down to 1.72 percent from 1.75 percent late Friday.


----------



## bigdog

Source: http://finance.yahoo.com 

A quiet day on Wall Street turned into the worst sell-off in three months after a Federal Reserve official said he doubted the bank's effort to boost economic growth would work. 

Charles Plosser, president of the Fed's Philadelphia branch, told an audience Tuesday that the Fed's effort to support the economy would likely fall short of its goals. And if the Fed looks ineffective, it could undermine future Fed action. 

The speech probably startled some investors who had faith in the Fed's latest plan, said Jack Ablin, chief investment officer Harris Private Bank. The plan includes buying $40 billion in mortgage bonds each month until the economy improves. 

"So many investors have bought into the illusion," he said. "And it was like Plosser pulled up the curtain on the Wizard of Oz." 

The Standard & Poor's 500 index lost 15.30 points, its fourth straight decline, to close at 1,441.59. The 1.05 percent drop was the worst for the S&P since June 25. 

The Dow Jones industrial average lost 101.37 points to close at 13,457.55. Caterpillar tugged the Dow down, losing 4 percent. The world's largest maker of bulldozers and other heavy equipment said late Monday that slower economic growth around the world dampened its earnings forecast. Its stock sank $3.86 to $87.01. 

A batch of encouraging economic reports gave the stock market a nudge in morning trading. House prices rose in major cities for a third straight month, and a gauge of consumer confidence came in surprisingly high. 

More surprising than those two economic reports was the Richmond Federal Reserve's strong reading on regional manufacturing, a recent trouble spot, said Phil Orlando, chief equity strategist at Federated Investors. 

 *The NYSE DOW closed  	LOWER ▼	-101.37	points or ▼	-0.75%	Tuesday, 25 September 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,457.55	▼	-101.37	▼	-0.75%	
	Nasdaq____	3,117.73	▼	-43.05	▼	-1.36%	
	S&P_500__	1,441.59	▼	-15.30	▼	-1.05%	
	30_Yr_Bond	3.032	▲	0.00	▲	0.00%	

NYSE Volume	 3,677,164,500 			 		 	
Nasdaq Volume	 1,979,791,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,859.71	▲	20.87	▲	0.36%	
	DAX_____	7,425.11	▲	11.95	▲	0.16%	
	CAC_40__	3,513.81	▲	16.59	▲	0.47%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,395.50	▼	-13.70	▼	-0.31%	
	Shanghai_Comp	2,029.29	▼	-3.90	▼	-0.19%	
	Taiwan_Weight	7,734.13	▼	-34.17	▼	-0.44%	
	Nikkei_225____	9,091.54	▲	22.25	▲	0.25%	
	Hang_Seng____	20,698.68	▲	53.93	▲	0.02%	
	Strait_Times___	3,067.13	▼	-0.80	▼	-0.03%	
	NZX_50_Index__	3,825.31	▲	0.00	▲	0.00%	

http://finance.yahoo.com/news/dow-d...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Dow drops 100 after Fed official's warning

Warning from Fed official sends stocks lower; fourth straight decline for S&P*

By Matthew Craft, AP Business Writer

A quiet day on Wall Street turned into the worst sell-off in three months after a Federal Reserve official said he doubted the bank's effort to boost economic growth would work. 

Charles Plosser, president of the Fed's Philadelphia branch, told an audience Tuesday that the Fed's effort to support the economy would likely fall short of its goals. And if the Fed looks ineffective, it could undermine future Fed action. 

The speech probably startled some investors who had faith in the Fed's latest plan, said Jack Ablin, chief investment officer Harris Private Bank. The plan includes buying $40 billion in mortgage bonds each month until the economy improves. 

"So many investors have bought into the illusion," he said. "And it was like Plosser pulled up the curtain on the Wizard of Oz." 

The Standard & Poor's 500 index lost 15.30 points, its fourth straight decline, to close at 1,441.59. The 1.05 percent drop was the worst for the S&P since June 25. 

The Dow Jones industrial average lost 101.37 points to close at 13,457.55. Caterpillar tugged the Dow down, losing 4 percent. The world's largest maker of bulldozers and other heavy equipment said late Monday that slower economic growth around the world dampened its earnings forecast. Its stock sank $3.86 to $87.01. 

A batch of encouraging economic reports gave the stock market a nudge in morning trading. House prices rose in major cities for a third straight month, and a gauge of consumer confidence came in surprisingly high. 

More surprising than those two economic reports was the Richmond Federal Reserve's strong reading on regional manufacturing, a recent trouble spot, said Phil Orlando, chief equity strategist at Federated Investors. 

"Look at that. There were three data points on the economy and we crushed them," said Phil Orlando, chief equity strategist at Federated Investors. 

But sagging profits could drag on the stock market in the coming weeks, Orlando said. Caterpillar joined a growing collection of companies have lowered their earnings forecasts. FedEx, a bellwether of world trade, said that shipping has sunk to recession-like levels. Railroad giant Norfolk Southern has also warned that falling shipments and sinking coal prices will likely drag down its earnings. 

Wall Street analysts now estimate that corporate profits will sink this quarter from a year earlier. That would be the first such drop in three years. 

The Nasdaq composite index dropped 43.05 points to 3,117.73. Google's stock touched an all-time high in early trading, clearing $764, but closed the trading day at $749.16. 

Apple, the largest public company in the world, lost $17.25, or 2.5 percent, to close at $673.54. It has lost more than $26 in two days. Apple is the biggest component in the S&P but is not included in the Dow, helping explain why the S&P suffered a greater percentage decline than the Dow's 0.8 percent. 

The closely watched Standard & Poor's/Case Shiller index of national house prices increased 1.2 percent in July compared with the same month in 2011. Prices rose from the previous month in all 20 major cities tracked by the report for the third month in a row. 

The Conference Board said its gauge of consumer confidence shot to a seven-month high in September, trumping forecasts by a large margin. People surveyed said they were more optimistic about the job market. 

The Federal Reserve's manufacturing index, which surveys companies in the central Atlantic region, increased after shrinking for three months as businesses turned more optimistic. Companies said they anticipate more orders and shipments even as employment dips. The index turned positive in September after a negative reading in August. 

All three major stock indexes have surged or more this month, buoyed by a new plan from the Federal Reserve to support the U.S. economy. Both the Dow and the S&P 500, the benchmark for most stock funds, have gained more than 3 percent. 

Treasury prices rose as traders shifted money into safe assets. The 10-year Treasury yield, the benchmark for mortgages and other loans, dipped to 1.67 percent, down from 1.71 percent late Monday.


----------



## bigdog

Source: http://finance.yahoo.com 

A mixed report about the housing market and unrest in Europe on Wednesday extended the longest losing streak for the Standard & Poor's 500 index since mid-July. Other risky assets, like European stocks and oil, fell more sharply. 

The median price of new homes sold in August rose by a record amount, while sales of new homes dipped slightly. Sales in August were up 27.7 percent from a year earlier, but remain at about half the pace economists consider healthy. 

Stronger data on the U.S. housing market have insulated stocks in recent weeks from a slackening global economy. Stocks' other main source of support has been the Federal Reserve's program to boost the economy by pumping money in. That idea lost some luster Tuesday after a key Fed official said he doubted it will do much good. 

"There was some optimism coming into the market, and that's usually when you're most vulnerable to sell-offs when there are negative headlines" like the Fed official's comments, unrest in Europe and weaker data about the U.S. economy, said Todd Salamone, director of research at Schaeffer's Investment Research. 

Indexes had risen to levels they hadn't beat for months or years, Salamone said, creating "an almost perfect storm in terms of the vulnerability to short-term impacts." 

The dip in home sales hurt homebuilder stocks. PulteGroup Inc. fell 76 cents, or 4.7 percent, to $15.30; KB Home 51 cents, or 3.5 percent, to $13.90 and Beazer Homes USA Inc. 14 cents, or 3.9 percent, to $3.50. 

European stocks had their worst day in months as unrest threatened to boil over in Greece, where deep budget cuts have eroded people's living standards, and Spain, where citizens are resisting a likely bailout from international lenders. Earlier, Asian stocks closed lower. 

The euro fell sharply against the dollar, and the price of oil closed below $90 per barrel for the first time since early August. 

Rising demand for lower-risk investments fed strong bids for U.S. Treasury debt. The yield on the 10-year Treasury note fell to 1.62 percent from 1.67 percent late Tuesday. A bond's yield falls as its price increases. 

The Dow Jones industrial average fell 44.04 points, or 0.3 percent, to 13,413.51. The S&P 500 index fell 8.27, or 0.6 percent, to 1,433.32. The only category that rose was utilities, relatively safe stocks that tend to hold their value when the economy is weak. 

The Nasdaq composite average fell 24.03 points, or 0.8 percent, to 3,093.70. 

 *The NYSE DOW closed  	LOWER ▼	-44.04	points or ▼	-0.33%	Wednesday, 26 September 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,413.51	▼	-44.04	▼	-0.33%	
	Nasdaq____	3,093.70	▼	-24.03	▼	-0.77%	
	S&P_500__	1,433.32	▼	-8.27	▼	-0.57%	
	30_Yr_Bond	3.032	▲	0.00	▲	0.00%	

NYSE Volume	 3,535,967,250 			 		 	
Nasdaq Volume	 1,738,081,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,768.09	▼	-91.62	▼	-1.56%	
	DAX_____	7,276.51	▼	-148.60	▼	-2.00%	
	CAC_40__	3,414.84	▼	-98.97	▼	-2.82%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,382.50	▼	-13.00	▼	-0.30%	
	Shanghai_Comp	2,004.17	▼	-25.12	▼	-1.24%	
	Taiwan_Weight	7,669.63	▼	-64.50	▼	-0.83%	
	Nikkei_225____	8,906.70	▼	-184.84	▼	-2.03%	
	Hang_Seng____	20,527.73	▲	53.93	▼	-0.83%	
	Strait_Times___	3,047.01	▼	-20.12	▼	-0.66%	
	NZX_50_Index__	3,809.32	▼	-15.99	▼	-0.42%	

http://finance.yahoo.com/news/us-stocks-fall-europe-unrest-201730969.html

*US stocks fall on Europe unrest, weaker home sales

US stocks fall modestly; simmering unrest in Europe causes sharper drops for some risky assets*

By Daniel Wagner, AP Business Writer 

A mixed report about the housing market and unrest in Europe on Wednesday extended the longest losing streak for the Standard & Poor's 500 index since mid-July. Other risky assets, like European stocks and oil, fell more sharply. 

The median price of new homes sold in August rose by a record amount, while sales of new homes dipped slightly. Sales in August were up 27.7 percent from a year earlier, but remain at about half the pace economists consider healthy. 

Stronger data on the U.S. housing market have insulated stocks in recent weeks from a slackening global economy. Stocks' other main source of support has been the Federal Reserve's program to boost the economy by pumping money in. That idea lost some luster Tuesday after a key Fed official said he doubted it will do much good. 

"There was some optimism coming into the market, and that's usually when you're most vulnerable to sell-offs when there are negative headlines" like the Fed official's comments, unrest in Europe and weaker data about the U.S. economy, said Todd Salamone, director of research at Schaeffer's Investment Research. 

Indexes had risen to levels they hadn't beat for months or years, Salamone said, creating "an almost perfect storm in terms of the vulnerability to short-term impacts." 

The dip in home sales hurt homebuilder stocks. PulteGroup Inc. fell 76 cents, or 4.7 percent, to $15.30; KB Home 51 cents, or 3.5 percent, to $13.90 and Beazer Homes USA Inc. 14 cents, or 3.9 percent, to $3.50. 

European stocks had their worst day in months as unrest threatened to boil over in Greece, where deep budget cuts have eroded people's living standards, and Spain, where citizens are resisting a likely bailout from international lenders. Earlier, Asian stocks closed lower. 

The euro fell sharply against the dollar, and the price of oil closed below $90 per barrel for the first time since early August. 

Rising demand for lower-risk investments fed strong bids for U.S. Treasury debt. The yield on the 10-year Treasury note fell to 1.62 percent from 1.67 percent late Tuesday. A bond's yield falls as its price increases. 

The Dow Jones industrial average fell 44.04 points, or 0.3 percent, to 13,413.51. The S&P 500 index fell 8.27, or 0.6 percent, to 1,433.32. The only category that rose was utilities, relatively safe stocks that tend to hold their value when the economy is weak. 

The Nasdaq composite average fell 24.03 points, or 0.8 percent, to 3,093.70. 

The declines came a day after the worst sell-off for the S&P 500 in three months. Charles Plosser, president of the Fed's Philadelphia branch, told an audience Tuesday that the Fed's effort to support the economy would likely fall short of its goals. 

Stocks rallied this month on bold moves by central bankers. They had one of their biggest gains of the year Sept. 6 after Mario Draghi, the president of the European Central Bank, said the ECB would buy unlimited amounts of government bonds to lower borrowing costs for Europe's debt-burdened countries. 

A week later, Fed Chairman Ben Bernanke said the Fed will buy $40 billion of mortgage bonds each month until the economy strengthens. It also plans to hold interest rates at super-low levels into 2015. 

The S&P soared to a nearly five-year closing high of 1,465 the next day, Sept. 14. Since then, as doubts emerge about the effectiveness of the central banks' actions, it has drifted back to where it was before Bernanke's announcement. 

In Europe, tens of thousands of protesters took to the streets in Athens and Madrid, where they clashed with riot police ahead of new rounds of spending cuts and tax hikes. The Bank of Spain warned that the country is in a deep recession, a day after protests in Madrid led to at dozens of arrests and injuries. 

Spain's IBEX index fell the most, closing down 3.9 percent. Italy's FTSE MIB fell 3.3 percent, Germany's DAX 2 percent and France's CAC-40 2.8 percent. 

The developments in Europe blunted any optimism about the U.S. housing market. Wednesday's report, while mixed, appeared to confirm that the market has hit bottom. Other recent data showed that sales of previously occupied homes jumped in August to the highest level since May 2010. Builder confidence is at a six-year high, and construction of single-family homes rose last month to the fastest annual rate in more than two years. 

The fear is that a broader recession in Europe could stall whatever economic recovery is occurring in the U.S., where the housing market has been a major drag for five years. 

In corporate news, American Greetings Corp. shares jumped $2.48, or 17.3 percent, to $16.82 after the greeting card company said that a group led by its CEO and chief operating officer wants to take it private in a deal that values it at about $581 million. 

Automobile auctioneer Copart hit an all-time high and closed up 43 cents, or 1.6 percent, at $27.82 after a strong fourth quarter that topped Wall Street expectations.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks notched their first gain of the week Thursday after Spain announced severe budget cuts intended to convince the world that it can meet deficit-reduction targets. 

It was the best day for the U.S. market since Sept. 13, when Federal Reserve Chairman Ben Bernanke announced further steps by the central bank to speed the economic recovery. 

Stocks were also helped by speculation that the central bank of China will act soon to help the world's No. 2 economy. 

The Dow Jones industrial average climbed 72.46 points, or 0.5 percent, to close at 13,485.97. It was the Dow's first gain in five trading sessions. The average was up as much as 109 points after the Spain announcement. 

The Standard & Poor's 500 index, after five days of declines, closed up 13.83 points, or just shy of 1 percent, at 1,447.15. The Nasdaq composite index rose 42.90 points to 3,136.60. 

The Nasdaq and S&P were helped by a jump in Apple stock, reversing three days of declines. Apple gained $16.14, or 2.4 percent, to $681.32 despite an analyst's report reducing estimates for shipments of iPhones later this year. 

As fear grew that Spain will need an international bailout, the finance minister said a draft budget for 2013 cuts overall spending by â‚¬40 billion, or about $51 billion. He said cuts for ministries would average almost 9 percent. 

The cuts are meant to show world investors and other countries that Spain can meet fiscal targets. The budget unveiling, shortly before noon EDT, lifted the U.S. stock market from what had been only modest gains. 

"That's the only major thing that's happened," said Dan Greenhaus, chief global strategist for the brokerage BTIG. "It's an excuse to rally the stock market." 

 *The NYSE DOW closed  	HIGHER ▲	72.46	points or ▲	0.54%	Thursday, 27 September 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,485.97	▲	72.46	▲	0.54%	
	Nasdaq____	3,136.60	▲	42.90	▲	1.39%	
	S&P_500__	1,447.15	▲	13.83	▲	0.96%	
	30_Yr_Bond	3.032	▲	0.00	▲	0.00%	

NYSE Volume	 3,121,314,000 			 		 	
Nasdaq Volume	 1,691,901,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,779.42	▲	11.33	▲	0.20%	
	DAX_____	7,290.02	▲	13.51	▲	0.19%	
	CAC_40__	3,439.32	▲	24.48	▲	0.72%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,402.80	▲	20.30	▲	0.46%	
	Shanghai_Comp	2,056.32	▲	52.15	▲	2.60%	
	Taiwan_Weight	7,683.80	▲	14.17	▲	0.18%	
	Nikkei_225____	8,949.87	▲	43.17	▲	0.48%	
	Hang_Seng____	20,762.29	▲	53.93	▲	1.14%	
	Strait_Times___	3,059.43	▲	12.75	▲	0.42%	
	NZX_50_Index__	3,809.03	▼	-0.29	▼	-0.01%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks snap a losing streak

Stocks snap losing streak after Spain unveils a tough budget*

Associated Press 		

 Stocks notched their first gain of the week Thursday after Spain announced severe budget cuts intended to convince the world that it can meet deficit-reduction targets. 

It was the best day for the U.S. market since Sept. 13, when Federal Reserve Chairman Ben Bernanke announced further steps by the central bank to speed the economic recovery. 

Stocks were also helped by speculation that the central bank of China will act soon to help the world's No. 2 economy. 

The Dow Jones industrial average climbed 72.46 points, or 0.5 percent, to close at 13,485.97. It was the Dow's first gain in five trading sessions. The average was up as much as 109 points after the Spain announcement. 

The Standard & Poor's 500 index, after five days of declines, closed up 13.83 points, or just shy of 1 percent, at 1,447.15. The Nasdaq composite index rose 42.90 points to 3,136.60. 

The Nasdaq and S&P were helped by a jump in Apple stock, reversing three days of declines. Apple gained $16.14, or 2.4 percent, to $681.32 despite an analyst's report reducing estimates for shipments of iPhones later this year. 

As fear grew that Spain will need an international bailout, the finance minister said a draft budget for 2013 cuts overall spending by â‚¬40 billion, or about $51 billion. He said cuts for ministries would average almost 9 percent. 

The cuts are meant to show world investors and other countries that Spain can meet fiscal targets. The budget unveiling, shortly before noon EDT, lifted the U.S. stock market from what had been only modest gains. 

"That's the only major thing that's happened," said Dan Greenhaus, chief global strategist for the brokerage BTIG. "It's an excuse to rally the stock market." 

Technology stocks and energy companies made the biggest gains. Utility stocks, which tend to do well when investors are fearful, were the only industry group in the S&P to fall. 

The market gains started earlier, in Asia, helped by expectations that the People's Bank of China will act soon. China's biggest steelmaker said Thursday it has shut down a mill in Shanghai, a sign of weakening growth. 

Stocks rose 0.5 percent in Japan and 1.1 percent in Hong Kong. 

In the United States, investors grappled Thursday with mixed economic data: 

”” The economy grew at an annual rate of 1.3 percent from April through June, the government said, slower than the previous estimate of 1.7 percent and not nearly fast enough to reduce unemployment. 

”” Demand for long-lasting manufactured goods plunged in August by the most since January 2009. That was mostly because of a huge drop in commercial aircraft orders, which are volatile. Orders that reflect business investment rose solidly. 

”” The number of Americans seeking unemployment benefits fell 26,000 last week to 359,000, the lowest figure in nine weeks. A figure consistently below 375,000 is generally enough to lower the unemployment rate. 

”” The number of Americans who signed contracts to buy previously occupied homes fell in August from a two-year high in July. The National Association of Realtors' sales index is still 10 percent higher than it was a year ago. 

In Europe, stocks came back from one of their worst days in months. The benchmark stock index finished 0.7 percent higher in France and 0.2 percent higher in Germany and Britain. 

Borrowing costs for financially troubled Spain and Italy also edged down, a positive sign. 

In the U.S., demand for government bonds fell, generally an indication that investors are more willing to embrace risk. The yield on the 10-year note, which moves opposite the price, rose 0.03 percentage point to 1.65 percent. 

The price of crude oil rose $1.87 per barrel to $91.85 as concerns mounted about a potential military confrontation over Iran's nuclear program. Oil had dropped $9 a barrel in two weeks. 

Israeli Prime Minister Benjamin Netanyahu warned at the United Nations that Iran will have enough enriched uranium to make a nuclear bomb by next summer and urged the world to draw a "red line" to stop it. 

The dollar fell against the euro and pound but rose against the yen. 

Among other U.S. companies making moves: 

”” Tempur-Pedic International, the mattress company, climbed $3.86, or 14.4 percent, to $30.64 after announcing it would buy a rival, Sealy, for about $229 million in cash. 

”” Discover Financial Services rose $2.69, or 7.3 percent, to $39.71. It reported a slight earnings decline in its latest quarter but beat Wall Street expectations. It also said credit card use increased and more customers paid off cards on time. 

”” GE hit a four-year high after the company told analysts it expects industrial revenue to rise about 10 percent this year. GE gained 63 cents, or 2.9 percent, to $22.73 in afternoon trading. They rose as high as $22.86.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks posted solid gains for the third quarter, although the ride got bumpy at the end. 

Stocks fell five days of the last six, including on Friday, the last trading day of the quarter. But the big indices are still up 4 percent or more for three months. They're ahead 10 percent or more for the year. 

That's despite all the anxiety about the euro, Iran, and U.S. politics. 

Actually, those worries are exactly why stocks are up, said Uri Landesman, who runs the Platinum Partners hedge fund. He notes that investors around the world feel that U.S. stocks look pretty good, compared to some of the alternatives. 

"People are scared, and 2008 wasn't that long ago, and Europe remains a problem," he said. Those factors "are keeping the market up in the face of some really questionable economic data and questionable behavior by the Fed." 

Investors got some more of that iffy economic data on Friday. The Commerce Department said consumer spending rose a half-percent last month, compared to July. That was a big jump ”” but it was driven by higher has prices, rather than by spending on clothing, electronics and general merchandise. Consumer spending drives nearly 70 percent of economic activity. 

The news pushed stocks lower. The Dow Jones industrial average fell 48.84 points to close at 13,437.13. The Standard & Poor's 500 index fell 6.48 points to 1,440.67. The Nasdaq composite index fell 20.37 points to 3,116.23. The losses had been steeper in the morning before stocks recovered somewhat around midday. 

Stocks fell in all industry groups in the S&P 500 except utilities. Telecommunications and information technology stocks had the biggest losses. 

Many investors worry that the recent gains by stocks aren't justified, considering the risks of a confrontation with Iran, weak corporate profits, and Europe's troubles. 

"People are wrestling with that disconnect, and trying to choose which chess pieces to move in anticipation" of whatever they think will happen next, said Lawrence Creatura, portfolio manager at Federated Investors. 

"It's been a good quarter," he said, "but at least for the day we seem to be limping across the finish line." 

 *The NYSE DOW closed  	LOWER ▼	-48.84	points or ▼	-0.36%	Friday, 28 September 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,437.13	▼	-48.84	▼	-0.36%	
	Nasdaq____	3,116.23	▼	-20.37	▼	-0.65%	
	S&P_500__	1,440.67	▼	-6.48	▼	-0.45%	
	30_Yr_Bond	3.030	▲	0.00	▲	0.00%	

NYSE Volume	 3,368,006,500 			 		 	
Nasdaq Volume	 1,874,889,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,742.07	▼	-37.35	▼	-0.65%	
	DAX_____	7,216.15	▼	-73.87	▼	-1.01%	
	CAC_40__	3,354.82	▼	-84.50	▼	-2.46%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,406.30	▲	3.50	▲	0.08%	
	Shanghai_Comp	2,086.17	▲	29.85	▲	1.45%	
	Taiwan_Weight	7,715.16	▲	31.36	▲	0.41%	
	Nikkei_225____	8,870.16	▼	-79.71	▼	-0.89%	
	Hang_Seng____	20,840.38	▲	53.93	▲	0.38%	
	Strait_Times___	3,060.34	▲	0.91	▲	0.03%	
	NZX_50_Index__	3,834.15	▲	25.12	▲	0.66%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks seal 3Q gains despite bumpy final days

Stocks lock in 3Q gains after a choppy end to the quarter; Dow up 10 pct on year*

By Joshua Freed, AP Business Writer

Stocks posted solid gains for the third quarter, although the ride got bumpy at the end. 

Stocks fell five days of the last six, including on Friday, the last trading day of the quarter. But the big indices are still up 4 percent or more for three months. They're ahead 10 percent or more for the year. 

That's despite all the anxiety about the euro, Iran, and U.S. politics. 

Actually, those worries are exactly why stocks are up, said Uri Landesman, who runs the Platinum Partners hedge fund. He notes that investors around the world feel that U.S. stocks look pretty good, compared to some of the alternatives. 

"People are scared, and 2008 wasn't that long ago, and Europe remains a problem," he said. Those factors "are keeping the market up in the face of some really questionable economic data and questionable behavior by the Fed." 

Investors got some more of that iffy economic data on Friday. The Commerce Department said consumer spending rose a half-percent last month, compared to July. That was a big jump ”” but it was driven by higher has prices, rather than by spending on clothing, electronics and general merchandise. Consumer spending drives nearly 70 percent of economic activity. 

The news pushed stocks lower. The Dow Jones industrial average fell 48.84 points to close at 13,437.13. The Standard & Poor's 500 index fell 6.48 points to 1,440.67. The Nasdaq composite index fell 20.37 points to 3,116.23. The losses had been steeper in the morning before stocks recovered somewhat around midday. 

Stocks fell in all industry groups in the S&P 500 except utilities. Telecommunications and information technology stocks had the biggest losses. 

Many investors worry that the recent gains by stocks aren't justified, considering the risks of a confrontation with Iran, weak corporate profits, and Europe's troubles. 

"People are wrestling with that disconnect, and trying to choose which chess pieces to move in anticipation" of whatever they think will happen next, said Lawrence Creatura, portfolio manager at Federated Investors. 

"It's been a good quarter," he said, "but at least for the day we seem to be limping across the finish line." 

Investors are still concerned about Spain's financial health. The Bank of Spain released an audit Friday showing that seven of the country's banks failed stress tests. Moody's, the credit rating agency, is also expected to weigh in on Spain's creditworthiness, and there are concerns the government's rating will be cut to "junk" status. 

Stocks in Europe fell. The CAC 40 in France fell 2.5 percent, the FTSE 100 in Britain was down 0.6 percent, and Germany's DAX fell 1 percent. 

Stocks finished higher in Asia on continued speculation that China's central bank will act soon to help the world's No. 2 economy. 

For the year so far, the Dow is up 10 percent, the S&P 500 up almost 15 percent, and the Nasdaq is up 20 percent. 

Among U.S. stocks with noteworthy moves: 

”” Bank of America Corp. fell 14 cents, or 1.6 percent, to close at $8.83 after agreeing to pay $2.43 billion to settle a class-action lawsuit related to its acquisition of Merrill Lynch. The company was the best performer of the 30 stocks in the Dow during September, rising 10.5 percent. Home Depot was the best Dow stock for the third quarter. 

”” Blackberry maker Research in Motion Ltd. jumped 36 cents, or 5 percent, to $7.50 after reporting a smaller-than-expected quarterly loss on Thursday night. 

”” Shoemaker Nike fell $1.09, or 1.1 percent, to $94.91 after saying its first-quarter net income fell 12 percent because higher sales were offset by increased ad spending. The results were better than Wall Street had expected, but investors seemed more worried about the trail ahead for Nike rather than its performance in the last quarter. 

”” McDonald's Corp. fell $1.52, or 1.6 percent, to $91.75 after Janney Capital Markets cut its rating and price target, saying difficult year-ago comparisons may pressure sales at stores open at least 13 months, which is a key revenue metric for retailers. 

The yield on U.S. 10-year Treasury notes fell to 1.629 percent.

0604


----------



## bigdog

Source: http://finance.yahoo.com 

U.S. stocks mostly rose on Monday as growth in manufacturing provided more evidence that the economy may be picking up, or at least not getting any worse. 

The gains came after news that U.S. manufacturing grew in September for the first time in four months. 

The Institute for Supply Management, a trade group of purchasing managers, also said its gauge of manufacturing employment rose following a decline in August. That's a hopeful sign that the government may report job growth in its monthly survey of the labor market on Friday. 

Also Monday, the government said U.S. builders spent more on home construction in August, the latest positive sign for the housing market. 

Investors are looking for signs that workers will have more money to spend, said Jerry Webman, chief economist for OppenheimerFunds Inc. That's a "virtuous cycle" that can generate some of its own fuel for a recovery. 

"If you're going to manufacture more you're going to employ more people, and if you employ more people you're going to pay them money, and they're going to buy some stuff," helping the economy, Webman said. 

It was still a choppy day on Wall Street. The manufacturing report came out half an hour after trading began, and sent stocks higher. The Standard & Poor's 500 index rose as much as 1.1 percent. 

But market indexes gave up most of their gains in the afternoon. The decline started after Federal Reserve Chairman Ben Bernanke said the Fed needs to keep interest rates low because the economy isn't growing fast enough to reduce high unemployment. It wasn't clear whether investors were reacting directly to Bernanke's remarks or just taking profits from a morning where stocks showed their strongest gains in days. Monday was only the third day since Sept. 17 that the S&P 500 has risen. 

The S&P closed 0.3 percent higher, rising 3.82 points to close at 1,444.49. The Dow Jones industrial average rose 77.98 points to close at 13,515.11. The Nasdaq composite fell 2.70 points to close at 3,113.53. 

Goldman Sachs jumped $3.18, or 2.8 percent, to $116.86 after Barron's wrote that investors are too pessimistic on the investment bank's prospects. 

Other financial stocks rose, too. Bank of America rose 13 cents, or 1.5 percent, to $8.96, and JPMorgan Chase rose 49 cents, or 1.2 percent, to $40.97. 

Monday was the first day of trading of the fourth quarter, and the early gains were a welcome change of pace from the way the last quarter ended. U.S. indices fell on Friday for the fifth day out of the previous six. 

 *The NYSE DOW closed  	HIGHER ▲	77.98	points or ▲	0.58%	Monday, 1 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,515.11	▲	77.98	▲	0.58%	
	Nasdaq____	3,113.53	▼	-2.70	▼	-0.09%	
	S&P_500__	1,444.49	▲	3.82	▲	0.27%	
	30_Yr_Bond	3.032	▲	0.00	▲	0.00%	

NYSE Volume	 3,502,196,750 			 		 	
Nasdaq Volume	 1,768,199,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,820.45	▲	78.38	▲	1.37%	
	DAX_____	7,326.73	▲	110.58	▲	1.53%	
	CAC_40__	3,434.98	▲	80.16	▲	2.39%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,408.30	▲	2.00	▲	0.05%	
	Shanghai_Comp	2,086.17	▲	29.85	▲	1.45%	
	Taiwan_Weight	7,675.72	▼	-39.44	▼	-0.51%	
	Nikkei_225____	8,796.51	▼	-73.65	▼	-0.83%	
	Hang_Seng____	20,840.38	▲	53.93	▲	0.38%	
	Strait_Times___	3,057.86	▼	-2.48	▼	-0.08%	
	NZX_50_Index__	3,830.03	▲	0.00	▲	0.00%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks rise following expansion in manufacturing

Stocks mostly rise on Wall Street following surprisingly strong US manufacturing report*

By Joshua Freed, AP Business Writer 

U.S. stocks mostly rose on Monday as growth in manufacturing provided more evidence that the economy may be picking up, or at least not getting any worse. 

The gains came after news that U.S. manufacturing grew in September for the first time in four months. 

The Institute for Supply Management, a trade group of purchasing managers, also said its gauge of manufacturing employment rose following a decline in August. That's a hopeful sign that the government may report job growth in its monthly survey of the labor market on Friday. 

Also Monday, the government said U.S. builders spent more on home construction in August, the latest positive sign for the housing market. 

Investors are looking for signs that workers will have more money to spend, said Jerry Webman, chief economist for OppenheimerFunds Inc. That's a "virtuous cycle" that can generate some of its own fuel for a recovery. 

"If you're going to manufacture more you're going to employ more people, and if you employ more people you're going to pay them money, and they're going to buy some stuff," helping the economy, Webman said. 

It was still a choppy day on Wall Street. The manufacturing report came out half an hour after trading began, and sent stocks higher. The Standard & Poor's 500 index rose as much as 1.1 percent. 

But market indexes gave up most of their gains in the afternoon. The decline started after Federal Reserve Chairman Ben Bernanke said the Fed needs to keep interest rates low because the economy isn't growing fast enough to reduce high unemployment. It wasn't clear whether investors were reacting directly to Bernanke's remarks or just taking profits from a morning where stocks showed their strongest gains in days. Monday was only the third day since Sept. 17 that the S&P 500 has risen. 

The S&P closed 0.3 percent higher, rising 3.82 points to close at 1,444.49. The Dow Jones industrial average rose 77.98 points to close at 13,515.11. The Nasdaq composite fell 2.70 points to close at 3,113.53. 

Goldman Sachs jumped $3.18, or 2.8 percent, to $116.86 after Barron's wrote that investors are too pessimistic on the investment bank's prospects. 

Other financial stocks rose, too. Bank of America rose 13 cents, or 1.5 percent, to $8.96, and JPMorgan Chase rose 49 cents, or 1.2 percent, to $40.97. 

Monday was the first day of trading of the fourth quarter, and the early gains were a welcome change of pace from the way the last quarter ended. U.S. indices fell on Friday for the fifth day out of the previous six. 

Quincy Krosby, market strategist at Prudential Financial, said investors believe that the news about the economy has stopped getting worse. Besides the U.S. manufacturing news on Monday, she noted that recent data from China suggests that manufacturing has improved there as well. 

"The numbers were still weak, but they were not as bad as before," Krosby said. "So that was a positive backdrop for the market." 

Wendy's Co. fell 28 cents, or 6.1 percent, to $4.25 after a Janney Capital Markets analyst lowered his rating on the stock, saying there are seeing signs that the hamburger chain's revenue won't be as strong as expected. 

Markets around Europe rose. An audit of 14 Spanish banks showed the lenders need an extra $77.6 billion in capital. That's roughly what was expected, and well within the amount Madrid can get from fellow European countries. 

A slight improvement in a survey of the euro zone's manufacturing sector also helped. 

However, credit rating agency Moody's might downgrade Spain's debt to junk status this week. That's likely to limit enthusiasm in Europe until the Moody's decision is known. 

Germany's DAX stock index rose 1.5 percent, France's CAC-40 was up 2.4 percent, and Britain's FTSE 100 rose 1.4 percent. Spain's Ibex was up 1 percent. 

The euro rose to $1.288. 

The yield on the 10-year Treasury note fell slightly to 1.62 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

Mixed signals on the world economy tugged on major stock indexes Tuesday. 

The country's largest fertilizer company, Mosaic, said weak demand from China and India have hurt its profits. Mosaic, Dupont and stocks of other companies in the materials industry fell. 

But utilities and health care stocks, where investors often retreat in a slow-growing economy, helped pull the Standard & Poor's 500 index above the break-even mark. 

The S&P 500 index gained 1.26 to close at 1,445.75. The Dow Jones industrial average dropped 32.75 points to 13,482.36. Dupont led the Dow lower, sinking 86 cents to $49.50. 

The market could remain quiet until the government gives its monthly jobs report on Friday, said Paul Zemsky, chief investment officer of multi-asset strategies at ING Investment Management. Economists expect the unemployment rate increased to 8.2 percent in September from 8.1 percent in August. 

Zemsky said a surprise swing up or down "could change the direction of the stock market and the Presidential election." 

Indexes took a turn lower at midday after Spain's prime minister said that he's not preparing a request for a bailout loan. Traders have been anticipating that the Spanish government would ask for help for nearly a month. Spain needs to ask for money from Europe's bailout fund before the European Central Bank can start buying Spanish government bonds. 

Mosaic reported net income and sales early Tuesday that fell short of analysts' estimates. The company blamed slumping demand for its fertilizer overseas as well as hurricanes for slower production. The results pushed the company's stock down $2.25 to $55.76. 

In other trading, the Nasdaq composite rose 6.51 points to 3,120.04. 

 *The NYSE DOW closed  	LOWER ▼	-32.75	points or ▼	-0.24%	Tuesday, 2 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,482.36	▼	-32.75	▼	-0.24%	
	Nasdaq____	3,120.04	▲	6.51	▲	0.21%	
	S&P_500__	1,445.75	▲	1.26	▲	0.09%	
	30_Yr_Bond	3.032	▲	0.00	▲	0.00%	

NYSE Volume	 3,275,689,500 			 		 	
Nasdaq Volume	 1,617,743,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,809.45	▼	-11.00	▼	-0.19%	
	DAX_____	7,305.86	▼	-20.87	▼	-0.28%	
	CAC_40__	3,414.23	▼	-20.75	▼	-0.60%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,451.90	▲	43.60	▲	0.99%	
	Shanghai_Comp	2,086.17	▲	29.85	▲	1.45%	
	Taiwan_Weight	7,718.68	▲	42.96	▲	0.56%	
	Nikkei_225____	8,786.05	▼	-10.46	▼	-0.12%	
	Hang_Seng____	20,840.38	▲	53.93	▲	0.38%	
	Strait_Times___	3,079.14	▲	21.28	▲	0.70%	
	NZX_50_Index__	3,871.25	▲	41.22	▲	1.08%	

http://finance.yahoo.com/news/stocks-waver-spain-report-mosaic-202633379.html

*Stocks waver on Spain report, Mosaic miss

Dupont, other material company stocks tug stocks down; health-care stocks rise*

By Matthew Craft	

Mixed signals on the world economy tugged on major stock indexes Tuesday. 

The country's largest fertilizer company, Mosaic, said weak demand from China and India have hurt its profits. Mosaic, Dupont and stocks of other companies in the materials industry fell. 

But utilities and health care stocks, where investors often retreat in a slow-growing economy, helped pull the Standard & Poor's 500 index above the break-even mark. 

The S&P 500 index gained 1.26 to close at 1,445.75. The Dow Jones industrial average dropped 32.75 points to 13,482.36. Dupont led the Dow lower, sinking 86 cents to $49.50. 

The market could remain quiet until the government gives its monthly jobs report on Friday, said Paul Zemsky, chief investment officer of multi-asset strategies at ING Investment Management. Economists expect the unemployment rate increased to 8.2 percent in September from 8.1 percent in August. 

Zemsky said a surprise swing up or down "could change the direction of the stock market and the Presidential election." 

Indexes took a turn lower at midday after Spain's prime minister said that he's not preparing a request for a bailout loan. Traders have been anticipating that the Spanish government would ask for help for nearly a month. Spain needs to ask for money from Europe's bailout fund before the European Central Bank can start buying Spanish government bonds. 

Mosaic reported net income and sales early Tuesday that fell short of analysts' estimates. The company blamed slumping demand for its fertilizer overseas as well as hurricanes for slower production. The results pushed the company's stock down $2.25 to $55.76. 

In other trading, the Nasdaq composite rose 6.51 points to 3,120.04. 

The yield on the benchmark 10-year U.S. Treasury note slipped to 1.61 percent from 1.63 percent late Monday after Spain's prime minister, Mariano Rajoy, said a bailout request wasn't coming. 

European markets closed slightly lower before Rajoy spoke. Benchmark stock indexes fell 0.3 percent in Germany, 0.2 percent in Britain and 0.6 percent in France. Borrowing costs fell for Spain and Italy. 

Most car makers reported better sales for September. But sales for U.S. automakers were mostly flat. General Motors reported a slight increase in sales from a year earlier, but its stock gained 3 percent after the hedge-fund manager David Einhorn recommended it. GM rose 59 cents to $23.68. 

Core Logic, a private provider of real estate data, said U.S. home prices in August rose 4.6 percent compared with the same month last year. Prices also rose 0.3 percent from July, the sixth consecutive month of gains. 

Other gauges of the housing market have improved in recent months, including home sales. 

On Monday, the manufacturing survey from the Institute for Supply Management also showed improvement. ISM's main index nosed above 50, a reading that signals growth. The index had been below 50 from June through August. 

Investors are also looking ahead to quarterly earnings, which begin in earnest when the aluminum company Alcoa reports results Oct. 9. 

Among other stocks that made big moves Tuesday: 

”” News that Deutsche Telekom said it may buy the cellphone carrier MetroPCS Communications sent MetroPCS's stock up 18 percent. Reports said the board of Deutsche Telekom, which owns T-Mobile USA, would vote to approve the deal Wednesday. MetroPCS gained $2.05 to $13.57. 

”” PetSmart rose 99 cents to $68.55. Standard & Poor's said the pet-store chain will replace Sunoco in the S&P 500 index at the end of trading Thursday. The S&P 500 is the most commonly used benchmark for stock mutual funds. When a company joins the index, mutual fund managers are more likely to buy it. Sunoco was bought by Energy Transfer Partners.


----------



## bigdog

Source: http://finance.yahoo.com 

A pair of encouraging economic reports helped nudge the stock market higher Wednesday. Measures of business activity in the service sector and job growth last month came in better than economists had expected. 

The market's gains were held in check by a slump in energy stocks and Hewlett-Packard 's 13 percent plunge. In a meeting with analysts and investors, Meg Whitman, H-P's CEO, predicted weak earnings and sales for the foreseeable future. 

The Dow Jones rose 12.25 points to close at 13,494.61. The Standard & Poor's 500 index gained 5.24 points to 1,450.99. 

"The price action today seems boring, but the economic data is pretty strong," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. 

The Institute for Supply Management said its index of service companies, which includes everything from financial firms to clothing stores, rose in September to the highest level since March. The index reached 55.1. Economists had estimated it would drop to 53.4. 

But concerns over an economic slowdown in Europe, China and the U.S. helped push the price of crude oil down $3.75 to $88.14 a barrel. Energy stocks fell sharply as a result. After H-P, Chevron had the worst loss in the Dow, giving up $1.82 to $116.14. 

"The U.S is looking better than a lot of places in the world," Detrick said. "The big question is: Are they going to pull us down with them?" 

In other trading, the Nasdaq composite index rose 15.19 points to 3,135.23. The yield on the benchmark 10-year U.S. Treasury note ended the trading day at 1.61 percent, the same as late Tuesday. 

 *The NYSE DOW closed  	HIGHER ▲	12.25	points or ▲	0.09%	Wednesday, 3 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,494.61	▲	12.25	▲	0.09%	
	Nasdaq____	3,135.23	▲	15.19	▲	0.49%	
	S&P_500__	1,450.99	▲	5.24	▲	0.36%	
	30_Yr_Bond	3.032	▲	0.00	▲	0.00%	

NYSE Volume	 3,486,347,250 			 		 	
Nasdaq Volume	 1,704,791,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,825.81	▲	16.36	▲	0.28%	
	DAX_____	7,322.08	▲	16.22	▲	0.22%	
	CAC_40__	3,406.02	▼	-8.21	▼	-0.24%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,458.80	▲	6.90	▲	0.15%	
	Shanghai_Comp	2,086.17	▲	29.85	▲	1.45%	
	Taiwan_Weight	7,684.63	▼	-34.05	▼	-0.44%	
	Nikkei_225____	8,746.87	▼	-39.18	▼	-0.45%	
	Hang_Seng____	20,888.28	▲	53.93	▲	0.23%	
	Strait_Times___	3,077.14	▼	-2.00	▼	-0.06%	
	NZX_50_Index__	3,889.60	▲	18.35	▲	0.47%	

http://finance.yahoo.com/news/stocks-edge-h-p-sinks-202009627.html

*Stocks edge up; H-P sinks on Whitman's outlook

The stock market edges up after hiring and service industry reports come in above forecasts*

By Matthew Craft,

A pair of encouraging economic reports helped nudge the stock market higher Wednesday. Measures of business activity in the service sector and job growth last month came in better than economists had expected. 

The market's gains were held in check by a slump in energy stocks and Hewlett-Packard 's 13 percent plunge. In a meeting with analysts and investors, Meg Whitman, H-P's CEO, predicted weak earnings and sales for the foreseeable future. 

The Dow Jones rose 12.25 points to close at 13,494.61. The Standard & Poor's 500 index gained 5.24 points to 1,450.99. 

"The price action today seems boring, but the economic data is pretty strong," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. 

The Institute for Supply Management said its index of service companies, which includes everything from financial firms to clothing stores, rose in September to the highest level since March. The index reached 55.1. Economists had estimated it would drop to 53.4. 

But concerns over an economic slowdown in Europe, China and the U.S. helped push the price of crude oil down $3.75 to $88.14 a barrel. Energy stocks fell sharply as a result. After H-P, Chevron had the worst loss in the Dow, giving up $1.82 to $116.14. 

"The U.S is looking better than a lot of places in the world," Detrick said. "The big question is: Are they going to pull us down with them?" 

In other trading, the Nasdaq composite index rose 15.19 points to 3,135.23. The yield on the benchmark 10-year U.S. Treasury note ended the trading day at 1.61 percent, the same as late Tuesday. 

Hewlett-Packard plunged after CEO Meg Whitman said a successful turnaround of the computer maker is a long way off. Profits will likely fall by more than 10 percent next year, she said. H-P's stock lost $2.22 to $14.91. 

Payment processor ADP said Wednesday that U.S. companies put 162,000 more workers on their payrolls last month. That's still below August's total of 189,000, and not enough to put a dent in the 8.1 percent employment rate. 

Trading could remain calm this week while investors look ahead to the government's monthly jobs report Friday and a new round of quarterly corporate earnings reports next week. 

Economists expect the unemployment rate edged up to 8.2 percent in September from 8.1 percent in August. And the unofficial start to the earnings season starts next Tuesday when the aluminum company Alcoa posts its results. 

The Dow and the S&P 500 have crept higher in the first week of October. The Dow is up 0.4 percent and the S&P 500 is up 0.7 percent. 

Among other stocks making big moves Wednesday: 

”” Discount chain Family Dollar Stores surged $2.56 to $68.56 after posting stronger net income and sales. The store's customers also spent more money on each sale. 

”” Monsanto fell $1.97 to $88.59. The purveyor of corn seeds, herbicides and other agricultural products posted a wider loss and reported sales that fell short of Wall Street's expectation. 

”” Best Buy jumped 79 cents to $17.76 on reports that the company's founder has teamed up with a group of private equity firms to take over the electronics chain.


----------



## bigdog

Source: http://finance.yahoo.com 

An encouraging report on the labor market and better sales from Costco and other retail stores helped push the stock market higher Thursday. 

The government said that 367,000 Americans sought unemployment benefits for the first time last week. That's an increase from the previous week but fewer than economists had forecast. 

The Dow Jones industrial average gained 80.75 points to close at 13,575.36. Aluminum giant Alcoa led the 30 stocks in the Dow with a 3.3 percent surge, rising 29 cents to $9.07. 

"It's not just the jobless claims numbers on their own," said Brian Gendreau, market strategist at Cetera Financial Group. "They're coming on the back of ... manufacturing and service-sector reports that were better than people expected this week." 

The Standard & Poor's 500 index climbed 10.41 points to 1,461.40. The Nasdaq composite rose 14.23 points to 3,149.46. 

The job-market report helped drive the yield on the benchmark 10-year Treasury note up to 1.67 percent from 1.62 percent late Wednesday. Traders tend to sell Treasurys following better economic news. 

The Commerce Department said that orders to U.S. factories came in better than forecasts, even though the 5.2 percent drop in orders was the biggest in more than three years. 

Costco and other retail chain stores reported September sales that came in ahead of Wall Street's estimates. Costco gained $1.86 to $101.48. Target rose 56 cents to $63.65. 

The stock market barely moved following the release of the Federal Reserve's minutes from its meeting last month, when the Fed hatched a new open-ended program to spend $40 billion a month on mortgage bonds. The minutes revealed that all but one member of the Fed's interest-rate committee voted in favor of the bond-buying effort. 

 *The NYSE DOW closed  	HIGHER ▲	80.75	points or ▲	0.60%	Thursday, 4 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,575.36	▲	80.75	▲	0.60%	
	Nasdaq____	3,149.46	▲	14.23	▲	0.45%	
	S&P_500__	1,461.40	▲	10.41	▲	0.72%	
	30_Yr_Bond	3.032	▲	0.00	▲	0.00%	

NYSE Volume	 3,600,153,000 			 		 	
Nasdaq Volume	 1,595,464,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,827.78	▲	1.97	▲	0.03%	
	DAX_____	7,305.21	▼	-16.87	▼	-0.23%	
	CAC_40__	3,401.20	▼	-4.82	▼	-0.14%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,472.60	▲	13.80	▲	0.31%	
	Shanghai_Comp	2,086.17	▲	29.85	▲	1.45%	
	Taiwan_Weight	7,682.34	▼	-2.29	▼	-0.03%	
	Nikkei_225____	8,824.59	▲	77.72	▲	0.89%	
	Hang_Seng____	20,907.95	▲	53.93	▲	0.09%	
	Strait_Times___	3,086.64	▲	9.50	▲	0.31%	
	NZX_50_Index__	3,881.99	▼	-7.61	▼	-0.20%	

http://finance.yahoo.com/news/dow-j...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

Dow Jones average climbs after jobs report
Stocks climb following an encouraging jobs report and better retail sales
By Matthew Craft

An encouraging report on the labor market and better sales from Costco and other retail stores helped push the stock market higher Thursday. 

The government said that 367,000 Americans sought unemployment benefits for the first time last week. That's an increase from the previous week but fewer than economists had forecast. 

The Dow Jones industrial average gained 80.75 points to close at 13,575.36. Aluminum giant Alcoa led the 30 stocks in the Dow with a 3.3 percent surge, rising 29 cents to $9.07. 

"It's not just the jobless claims numbers on their own," said Brian Gendreau, market strategist at Cetera Financial Group. "They're coming on the back of ... manufacturing and service-sector reports that were better than people expected this week." 

The Standard & Poor's 500 index climbed 10.41 points to 1,461.40. The Nasdaq composite rose 14.23 points to 3,149.46. 

The job-market report helped drive the yield on the benchmark 10-year Treasury note up to 1.67 percent from 1.62 percent late Wednesday. Traders tend to sell Treasurys following better economic news. 

The Commerce Department said that orders to U.S. factories came in better than forecasts, even though the 5.2 percent drop in orders was the biggest in more than three years. 

Costco and other retail chain stores reported September sales that came in ahead of Wall Street's estimates. Costco gained $1.86 to $101.48. Target rose 56 cents to $63.65. 

The stock market barely moved following the release of the Federal Reserve's minutes from its meeting last month, when the Fed hatched a new open-ended program to spend $40 billion a month on mortgage bonds. The minutes revealed that all but one member of the Fed's interest-rate committee voted in favor of the bond-buying effort. 

The key event this week comes Friday morning when the Labor Department releases its monthly jobs report. Economists forecast that the unemployment rate inched up to 8.2 percent in September from 8.1 percent in August. 

The major stock market indexes have climbed steadily higher to start October. The Dow rose 78 points Monday after the Institute for Supply Management said its gauge of manufacturing rose in September for the first time in four months. For the month, the Dow is up an even 1 percent and the S&P 500 is up 1.4 percent. 

Among other stocks making big moves: 

”” Google rose $5.55 to $768.05. The Internet giant and U.S. publishers announced they had settled a seven-year dispute over Google's book-scanning project. A lawsuit filed by authors remains, though. 

”” Sprint Nextel sank 2 percent, or 11 cents, to $5.09. Reports said the wireless carrier may launch a competing bid for MetroPCS Communications. That would pit Sprint against Deutsche Telekom, which plans to merge MetroPCS with its T-Mobile USA unit. 

”” Avery Dennison's stock dropped following news that 3M Co. dissolved an agreement to buy Avery Dennison's office and consumer products division. The Department of Justice had threatened to block the deal, saying that the sale to 3M, the maker of Post-It notes, would curtail competition in the market for sticky labels. Avery Dennison lost $1.38 to $30.07.


----------



## bigdog

Source: http://finance.yahoo.com 

A big drop in the unemployment rate wasn't enough for investors Friday. Stocks posted gains early in the day but faded to a mixed close. 

The Labor Department said the unemployment rate had declined to 7.8 percent, its first dip below 8 percent in nearly four years. The decline from 8.1 percent the month before was bigger than economists had expected. 

Stocks rose on that news, but the gains didn't last. The Dow Jones industrial average edged up 34.79 points to close at 13,610.15, after rising 86 points earlier in the day. The Standard & Poor's 500 index fell 0.47 points to 1,460.93, and the Nasdaq dropped 13.27 points to 3,136.19. 

U.S. employers added 114,000 jobs last month. That was in line with what economists were expecting, but the government also revised its estimates higher for job growth in July and August. 

The drop to 7.8 percent in the unemployment rate "really is not a big game-changer," said Peter Cardillo, chief market economist at Rockwell Global Capital. "Yes, more people were hired, but job creation did come in in line with expectations." 

"The jobs report today was just a validation that things are improving and that people are feeling good," said Marty Leclerc, chief investment officer of Barrack Yard Advisors. "So as investors, of course, that's when we're most apprehensive." 

Consumer discretionary stocks rose, led by Home Depot and Lowe's, both up more than 2 percent. Industrial stocks also rose. Technology and energy stocks had broad declines. 

 *The NYSE DOW closed  	HIGHER ▲	34.79	points or ▲	0.26%	Friday, 5 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,610.15	▲	34.79	▲	0.26%	
	Nasdaq____	3,136.19	▼	-13.27	▼	-0.42%	
	S&P_500__	1,460.93	▼	-0.47	▼	-0.03%	
	30_Yr_Bond	3.032	▲	0.00	▲	0.00%	

NYSE Volume	 3,153,710,250 			 		 	
Nasdaq Volume	 1,611,710,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,871.02	▲	43.24	▲	0.74%	
	DAX_____	7,397.87	▲	92.66	▲	1.27%	
	CAC_40__	3,457.04	▲	55.84	▲	1.64%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,513.80	▲	41.20	▲	0.92%	
	Shanghai_Comp	2,086.17	▲	29.85	▲	1.45%	
	Taiwan_Weight	7,690.65	▲	8.31	▲	0.11%	
	Nikkei_225____	8,863.30	▲	38.71	▲	0.44%	
	Hang_Seng____	21,012.38	▲	53.93	▲	0.50%	
	Strait_Times___	3,107.87	▲	21.23	▲	0.69%	
	NZX_50_Index__	3,904.85	▲	22.86	▲	0.59%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks mixed after US unemployment rate drops

Stocks give up on morning rally and turn mixed after drop in US unemployment rate*

By Joshua Freed

A big drop in the unemployment rate wasn't enough for investors Friday. Stocks posted gains early in the day but faded to a mixed close. 

The Labor Department said the unemployment rate had declined to 7.8 percent, its first dip below 8 percent in nearly four years. The decline from 8.1 percent the month before was bigger than economists had expected. 

Stocks rose on that news, but the gains didn't last. The Dow Jones industrial average edged up 34.79 points to close at 13,610.15, after rising 86 points earlier in the day. The Standard & Poor's 500 index fell 0.47 points to 1,460.93, and the Nasdaq dropped 13.27 points to 3,136.19. 

U.S. employers added 114,000 jobs last month. That was in line with what economists were expecting, but the government also revised its estimates higher for job growth in July and August. 

The drop to 7.8 percent in the unemployment rate "really is not a big game-changer," said Peter Cardillo, chief market economist at Rockwell Global Capital. "Yes, more people were hired, but job creation did come in in line with expectations." 

"The jobs report today was just a validation that things are improving and that people are feeling good," said Marty Leclerc, chief investment officer of Barrack Yard Advisors. "So as investors, of course, that's when we're most apprehensive." 

Consumer discretionary stocks rose, led by Home Depot and Lowe's, both up more than 2 percent. Industrial stocks also rose. Technology and energy stocks had broad declines. 

Despite the mixed day, the Dow managed to reach a milestone: its highest close since December 2007. The S&P is close, but not quite back to, its December 2007 high. The Dow and S&P had their first positive weeks after two weeks of losses. The Dow rose 1.3 percent for the week, the S&P 1.4 percent. 

U.S. stocks making noteworthy moves included: 

”” Apple fell $14.21, or 2.1 percent, to $652.59, causing the Nasdaq to perform worse than other indexes. 

”” Zynga plunged 33 cents, or 11.9 percent, to $2.48 after the online game maker said that it expects a third-quarter loss due to weak demand and a charge related to an acquisition. 

”” Dow component Hewlett-Packard fell 21 cents to $14.73. Moody's Investors Service said it was reviewing its investment-grade credit rating for a possible downgrade after the PC and printer maker cut its profit forecast. 

”” Avon Products rose $1.17, or 7.2 percent, to $17.39 after announcing that its chairman and former CEO Andrea Jung will step down at the end of the year. Jung had come under fire for failing to reverse the company's declines and wrap up a bribery investigation. 

”” Constellation Brands rose $1.48, or 4.3 percent, to $36.20. The wine and liquor company's quarterly results beat Wall Street's forecasts, and it raised its full-year forecast. 

Stocks rose in Europe, too. The FTSE 100 index of leading British shares was up 0.7 percent, while Germany's DAX rose 1.3 percent and the CAC-40 in France was up 1.6 percent. 

The dollar was trading steadily across a range of currencies, with the euro down slightly at $1.303. 

The yield on the 10-year U.S. Treasury note rose to 1.73 percent from 1.68 percent as investors shifted money from bonds into stocks. 

The price of oil fell despite the better U.S. jobs figures as investors booked gains from a big rise caused by concerns over the recent clashes between Turkey and Syria. The benchmark New York crude oil price fell $1.83 to $89.88 per barrel.

1359


----------



## bigdog

Source: http://finance.yahoo.com 

Investors looked warily at forecasts for poor U.S. corporate earnings and weaker growth in Asia and decided there wasn't much reason to buy stocks. 

The Dow Jones industrial average gave up 26.50 points to close at 13,583.65 points Monday. The Standard & Poor's 500 index fell 5.05 points to 1,455.88 and the Nasdaq composite lost 23.84 points to 3,112.35. 

Companies in the S&P 500 index are expected to post an overall decline in profits for the first time in 11 quarters, according to FactSet. The third-quarter earnings season starts on Tuesday when aluminum maker Alcoa releases its results. 

Tuesday also marks the five-year anniversary of the record high closes of the Dow and the S&P 500. The S&P, a benchmark tracked by many mutual funds, is currently about 7 percent below its record high. The Dow is about 4 percent below its peak. 

Stocks have been on a strong run, with the Dow up 11 percent this year, the S&P 500 nearly 16 percent. But Asia's slowdown, Europe's problems, and now forecasts of weak U.S. corporate earnings have caused some investors to wonder whether the stock market has risen too far, too fast. 

On top of those concerns, some market leaders like Apple have been falling in recent days, noted Bob Pavlik, chief market strategist at Banyan Partners LLC. 

"It sort of leads folks into thinking, 'Why don't I take a little bit of profit off the table, put it away,'" and maybe re-invest it if third-quarter results turn out to be higher than expected, he said. 

 *The NYSE DOW closed  	LOWER ▼	-26.50	points or ▼	-0.19%	Monday, 8 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,583.65	▼	-26.50	▼	-0.19%	
	Nasdaq____	3,112.35	▼	-23.84	▼	-0.76%	
	S&P_500__	1,455.88	▼	-5.05	▼	-0.35%	
	30_Yr_Bond	3.032	▲	0.00	▲	0.00%	

NYSE Volume	 2,314,776,000 			 		 	
Nasdaq Volume	 1,173,677,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,841.74	▲	13.96	▲	0.24%	
	DAX_____	7,291.21	▼	-106.66	▼	-1.44%	
	CAC_40__	3,406.53	▼	-50.51	▼	-1.46%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,502.00	▼	-11.80	▼	-0.26%	
	Shanghai_Comp	2,074.42	▼	-11.75	▼	-0.56%	
	Taiwan_Weight	7,615.89	▼	-74.76	▼	-0.97%	
	Nikkei_225____	8,863.30	▲	38.71	▲	0.44%	
	Hang_Seng____	20,824.56	▲	53.93	▼	-0.89%	
	Strait_Times___	3,076.65	▼	-31.22	▼	-1.00%	
	NZX_50_Index__	3,923.91	▲	0.00	▲	0.00%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks lower on weak outlook for 3Q, Asian economy

Stocks limp lower on dim hopes for corporate earnings and predictions of slower growth in Asia*

By Joshua Freed, AP Business Writer

Investors looked warily at forecasts for poor U.S. corporate earnings and weaker growth in Asia and decided there wasn't much reason to buy stocks. 

The Dow Jones industrial average gave up 26.50 points to close at 13,583.65 points Monday. The Standard & Poor's 500 index fell 5.05 points to 1,455.88 and the Nasdaq composite lost 23.84 points to 3,112.35. 

Companies in the S&P 500 index are expected to post an overall decline in profits for the first time in 11 quarters, according to FactSet. The third-quarter earnings season starts on Tuesday when aluminum maker Alcoa releases its results. 

Tuesday also marks the five-year anniversary of the record high closes of the Dow and the S&P 500. The S&P, a benchmark tracked by many mutual funds, is currently about 7 percent below its record high. The Dow is about 4 percent below its peak. 

Stocks have been on a strong run, with the Dow up 11 percent this year, the S&P 500 nearly 16 percent. But Asia's slowdown, Europe's problems, and now forecasts of weak U.S. corporate earnings have caused some investors to wonder whether the stock market has risen too far, too fast. 

On top of those concerns, some market leaders like Apple have been falling in recent days, noted Bob Pavlik, chief market strategist at Banyan Partners LLC. 

"It sort of leads folks into thinking, 'Why don't I take a little bit of profit off the table, put it away,'" and maybe re-invest it if third-quarter results turn out to be higher than expected, he said. 

Apple closed above $700 on Sept. 18, but has been declining since then. On Monday it fell $14.42 to $638.17. 

Also on Monday, the World Bank warned that a "more pronounced slowdown" is possible in China, the world's second-largest economy. It also cut its overall growth forecast for developing countries in Asia. 

Slower growth in Asia could drag down the U.S. economy. One of the few bright points for the U.S. during the recession was tremendous growth in export demand by developing nations in Asia and other regions. 

While the U.S. economy isn't doing badly, investors have been counting on growth in Asia for help, said Rex Macey, chief investment officer at Wilmington Trust Investment Advisors. "There was a point where we said 'Thank goodness for Asia and China. Their growth can fuel the recovery." That's not so clear anymore, he said. 

Stocks and industries that depend most heavily on U.S. economic growth were among the biggest losers Monday. Intel fell 17 cents to $22.51. Home Depot fell $1.32 to $61.88 and Walt Disney lost 64 cents to $52.33. 

Wal-Mart Stores and American Express shares didn't move much after they announced a reloadable prepaid card with no recurring or overdraft fees. But the news hammered shares of prepaid card competitor Green Dot Corp., which has also offered a card with Wal-Mart. Green Dot fell $2.60, or 20 percent, to $10.25. 

UnitedHealth Group rose 47 cents to $57.60 after the health insurer said it would pay $4.9 billion in cash to buy most of Brazilian health benefits and hospital services provider Amil Participacoes. 

Truck and engine maker Navistar rose $1.60, or 8 percent, to $22.81 after saying it will add two board members associated with activist investors, heading off a proxy battle. 

European markets also closed lower. France's CAC-40 fell 1.5 percent, Germany's DAX fell 1.4 percent and Britain's FTSE 100 lost 0.5 percent. 

U.S. government bond trading was closed for the Columbus Day holiday.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks slumped Tuesday on Wall Street after the International Monetary Fund predicted weaker world economic growth and as investors waited for what they expected to be lower corporate earnings. 

The Dow Jones industrial average declined 110.12 points, or 0.8 percent, to 13,473.53. The Standard & Poor's 500 index dropped 14.40 points, a hair under 1 percent, to 1,441.48. 

The Nasdaq composite index lost 47.33 points, or 1.5 percent, to 3,065.02. 

The slide came on the five-year anniversary of record high closes for the Dow and S&P 500. The Dow is about 700 points off its all-time high, 14,164.53. It would take a 5 percent rally from here to reach the record. 

Investors were discouraged by an International Monetary Fund report released overnight that said the global economy was weakening and the downturn afflicting developing nations has begun to spread. 

The weak forecast came one day after the World Bank cut its estimate for growth in China, the world's second-largest economy, and for developing countries across Asia. 

The IMF forecasts that the world economy will expand 3.3 percent this year, down from the estimate of 3.5 percent growth it issued in July. Its forecast for growth in 2013 is 3.6 percent, down from 4.1 percent in April. 

Investors were waiting for Alcoa, the aluminum company, to release its quarterly earnings report after the market closed ”” the traditional beginning of what investors call earnings season. 

Analysts expect earnings at S&P 500 companies to be down compared with last year, the first decline in almost three years. 

Wall Street expects Alcoa itself to break even, but analysts had been predicting profits of 12 cents per share from the aluminum maker as recently as July. Alcoa was up 10 cents at $9.22 in afternoon trading. 

 *The NYSE DOW closed  	LOWER ▼	-110.12	points or ▼	-0.81%	Tuesday, 9 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,473.53	▼	-110.12	▼	-0.81%	
	Nasdaq____	3,065.02	▼	-47.33	▼	-1.52%	
	S&P_500__	1,441.48	▼	-14.40	▼	-0.99%	
	30_Yr_Bond	3.032	▲	0.00	▲	0.00%	

NYSE Volume	 3,187,061,000 			 		 	
Nasdaq Volume	 1,623,785,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,810.25	▼	-31.49	▼	-0.54%	
	DAX_____	7,234.53	▼	-56.68	▼	-0.78%	
	CAC_40__	3,382.78	▼	-23.75	▼	-0.70%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,526.60	▲	24.60	▲	0.55%	
	Shanghai_Comp	2,115.23	▲	40.81	▲	1.97%	
	Taiwan_Weight	7,592.01	▼	-23.88	▼	-0.31%	
	Nikkei_225____	8,769.59	▼	-93.71	▼	-1.06%	
	Hang_Seng____	20,937.28	▲	53.93	▲	0.54%	
	Strait_Times___	3,066.51	▼	-10.14	▼	-0.33%	
	NZX_50_Index__	3,907.99	▼	-15.92	▼	-0.41%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks indexes slide following gloomy IMF forecast

Dire prediction on global economy, pessimism about earnings send stocks sliding on Wall Street*

Stocks slumped Tuesday on Wall Street after the International Monetary Fund predicted weaker world economic growth and as investors waited for what they expected to be lower corporate earnings. 

The Dow Jones industrial average declined 110.12 points, or 0.8 percent, to 13,473.53. The Standard & Poor's 500 index dropped 14.40 points, a hair under 1 percent, to 1,441.48. 

The Nasdaq composite index lost 47.33 points, or 1.5 percent, to 3,065.02. 

The slide came on the five-year anniversary of record high closes for the Dow and S&P 500. The Dow is about 700 points off its all-time high, 14,164.53. It would take a 5 percent rally from here to reach the record. 

Investors were discouraged by an International Monetary Fund report released overnight that said the global economy was weakening and the downturn afflicting developing nations has begun to spread. 

The weak forecast came one day after the World Bank cut its estimate for growth in China, the world's second-largest economy, and for developing countries across Asia. 

The IMF forecasts that the world economy will expand 3.3 percent this year, down from the estimate of 3.5 percent growth it issued in July. Its forecast for growth in 2013 is 3.6 percent, down from 4.1 percent in April. 

Investors were waiting for Alcoa, the aluminum company, to release its quarterly earnings report after the market closed ”” the traditional beginning of what investors call earnings season. 

Analysts expect earnings at S&P 500 companies to be down compared with last year, the first decline in almost three years. 

Wall Street expects Alcoa itself to break even, but analysts had been predicting profits of 12 cents per share from the aluminum maker as recently as July. Alcoa was up 10 cents at $9.22 in afternoon trading. 

Talley Leger, investment strategist at Macro Vision Research, noted that the IMF report came while Greek protests erupted again in Athens over budget-cutting measures and after a downgrade of Cyprus' credit rating on Monday. 

"It's all negative headlines today," Leger said. "There's a lot of European fears." 

Leger added he wouldn't be selling stocks given that Federal Reserve and other central banks are trying to stimulate economies around the world. The Fed has committed to buying $40 billion in mortgage bonds per month until the economy heals. 

"With markets so firmly supported by central bankers, I don't want to be defensive," Leger said. "It's a gift" to investors. 

Earlier Tuesday, the National Federation of Independent Business reported that business owners became increasingly pessimistic during September because of the weak hiring environment and poor sales. 

Nonetheless, the number of owners who expect business conditions to improve in six months gained four percentage points. Those believing it's a good time to expand rose three percentage points. 

Only energy stocks kept the market from closing even lower. The price of crude oil jumped more than $3 per barrel to $92.39 because of supply concerns in the Middle East and the North Sea. 

Energy stocks were the only major group in the S&P 500 to finish higher, and just barely. So-called consumer discretionary stocks, including companies like hotels and luxury stores that depend on a healthy economy, fell 1.5 percent as a group. 

Among stocks making big moves, Edwards Lifesciences dropped $22.81 to $84.60 after the company reported revenue that fell well short of analyst forecasts. Sales of its Sapien heart valves were weaker than the company had expected. 

Stanley Black & Decker, the tool maker, fell $1.99 to $72.24 after saying it would sell its hardware and home-improvement business to Spectrum Brands Holdings for $1.4 billion in cash. 

Spectrum Brands' stock jumped $4.88, or 11.9 percent, to $46.04. The Wisconsin company owns the Rayovac, Remington and Toastmaster brands. 

The yield on the 10-year Treasury note fell to 1.72 percent from 1.74 percent late Friday. U.S. government bond trading was closed Monday for the Columbus Day holiday. 

European markets also fell. Benchmark indexes fell 0.8 percent in Germany and 0.5 percent Britain. France's stock market index fell 0.7 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

Downbeat reports from Alcoa and Chevron at the start of corporate earnings season pulled stock indexes lower for a third straight day Wednesday. The Dow Jones industrial average slumped 128 points, its steepest loss since late June. 

Alcoa, the aluminum producer, beat Wall Street's earnings estimates on Tuesday night but said it expects a slowdown in China to weaken demand for aluminum. Its stock fell 42 cents Wednesday to $8.71. 

The company is often used as a weather vane for the global economy. "And judging by Alcoa's massive inventory of aluminum, it seems pretty anemic," said Jack Ablin, chief investment officer at Harris Private Bank. 

Chevron, the country's second-largest oil company, warned late Tuesday that slumping oil prices and production would cause earnings to be "substantially lower." It blamed Hurricane Isaac for disrupting production at a Mississippi refinery. 

On Tuesday, the Supreme Court also refused to block a $19 billion judgment levied against Chevron by an Ecuadorian court for polluting the Amazon. Chevron's stock sank $4.91 to $112.45. 

The Dow fell 128.56 points to close at 13,344.97, just shy of 1 percent, its fourth straight drop and the largest point decline since June 25. Chevron alone pulled the Dow down 38 points. 

The Standard & Poor's 500 index fell 8.92 points to 1,432.56. 

Alcoa and Chevron's results were an unpromising start to the third-quarter earnings parade, said JJ Kinahan, chief derivatives strategist at Ameritrade. "It's beginning to look like we might have a lot of gloom-and-doom earnings calls this quarter," he said. 

Of the 10 industry groups within the S&P 500, all but financials fell. Energy and materials stocks, whose fortunes hinge on economic growth, slumped the most. Bank stocks ended the day flat. 

In other trading, the Nasdaq lost 13.24 points to 3,051.78. The yield on the benchmark 10-year Treasury slipped to 1.68 percent, down from 1.71 percent late Tuesday. 

 *The NYSE DOW closed  	LOWER ▼	-128.56	points or ▼	-0.95%	Wednesday, 10 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,344.97	▼	-128.56	▼	-0.95%	
	Nasdaq____	3,051.78	▼	-13.24	▼	-0.43%	
	S&P_500__	1,432.56	▼	-8.92	▼	-0.62%	
	30_Yr_Bond	3.032	▲	0.00	▲	0.00%	

NYSE Volume	 3,206,200,000 			 		 	
Nasdaq Volume	 1,793,674,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,776.71	▼	-33.54	▼	-0.58%	
	DAX_____	7,205.23	▼	-29.30	▼	-0.40%	
	CAC_40__	3,365.87	▼	-16.91	▼	-0.50%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,511.90	▼	-14.70	▼	-0.32%	
	Shanghai_Comp	2,119.94	▲	4.71	▲	0.22%	
	Taiwan_Weight	7,592.01	▼	-23.88	▼	-0.31%	
	Nikkei_225____	8,596.23	▼	-173.36	▼	-1.98%	
	Hang_Seng____	20,919.60	▲	53.93	▼	-0.08%	
	Strait_Times___	3,033.81	▼	-32.10	▼	-1.05%	
	NZX_50_Index__	3,888.14	▼	-19.85	▼	-0.51%	

http://finance.yahoo.com/news/dow-f...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3
*
Dow falls 128, with Chevron and Alcoa leading way

Weaker earnings for Alcoa and Chevron pull stock market lower; Toyota sinks on recall woes*

By Matthew Craft, AP Business Writer

Downbeat reports from Alcoa and Chevron at the start of corporate earnings season pulled stock indexes lower for a third straight day Wednesday. The Dow Jones industrial average slumped 128 points, its steepest loss since late June. 

Alcoa, the aluminum producer, beat Wall Street's earnings estimates on Tuesday night but said it expects a slowdown in China to weaken demand for aluminum. Its stock fell 42 cents Wednesday to $8.71. 

The company is often used as a weather vane for the global economy. "And judging by Alcoa's massive inventory of aluminum, it seems pretty anemic," said Jack Ablin, chief investment officer at Harris Private Bank. 

Chevron, the country's second-largest oil company, warned late Tuesday that slumping oil prices and production would cause earnings to be "substantially lower." It blamed Hurricane Isaac for disrupting production at a Mississippi refinery. 

On Tuesday, the Supreme Court also refused to block a $19 billion judgment levied against Chevron by an Ecuadorian court for polluting the Amazon. Chevron's stock sank $4.91 to $112.45. 

The Dow fell 128.56 points to close at 13,344.97, just shy of 1 percent, its fourth straight drop and the largest point decline since June 25. Chevron alone pulled the Dow down 38 points. 

The Standard & Poor's 500 index fell 8.92 points to 1,432.56. 

Alcoa and Chevron's results were an unpromising start to the third-quarter earnings parade, said JJ Kinahan, chief derivatives strategist at Ameritrade. "It's beginning to look like we might have a lot of gloom-and-doom earnings calls this quarter," he said. 

Of the 10 industry groups within the S&P 500, all but financials fell. Energy and materials stocks, whose fortunes hinge on economic growth, slumped the most. Bank stocks ended the day flat. 

In other trading, the Nasdaq lost 13.24 points to 3,051.78. The yield on the benchmark 10-year Treasury slipped to 1.68 percent, down from 1.71 percent late Tuesday. 

In one of the few economic reports out Wednesday, the Federal Reserve said the U.S. economy "expanded modestly" from mid-August through September. The survey, known as the Beige Book, pointed to improvements in housing car sales, manufacturing and the housing market. Employment and consumer spending, however, remained mostly flat. 

Wal-Mart Stores surged $1.28 to $75.42, and earlier touched an all-time high of $76.81. The president of its U.S. division told Wall Street analysts that the retail giant plans to open more small-scale stores, including its Express chain, to compete with discount retailers and drugstore chains. 

Alcoa's earnings report marks the unofficial start to the quarterly earnings season, expected to be the worst in three years. Analysts project that companies in the S&P 500 will say third-quarter earnings shrank 1 percent compared with the same quarter of last year. 

Ablin said investors need solid reasons to buy stocks now, given the stock market's strong run this year. "My sense is that, with these downbeat earnings announcements, there's not much around right now," he said. 

Concerns over the global economy helped knock the Dow down 110 points on Tuesday. The International Monetary Fund trimmed its forecast for worldwide growth, saying that trouble in Europe and other developed regions has spread to faster-growing developing countries. The day before, the World Bank cut its estimate for growth in China, the world's second-largest economy behind the U.S., and countries across Asia. 

For the week, the Dow and S&P 500 have each lost 1.9 percent, and the Nasdaq has lost 2.7 percent. 

Among other companies making big moves Wednesday: 

”” Yum Brands jumped 8 percent, the top stock in the S&P 500 index. The parent of Taco Bell, Pizza Hut and other fast-food chains said results from China stores should remain strong, even as the Chinese economy slows. Yum gained $5.28 to $70.99. 

”” FedEx gained 5 percent, or $4.41 to $89.99. The world's second-biggest package delivery company unveiled a restructuring plan Monday aimed at raising profits by $1.7 billion within three years. FedEx promised to shed jobs and underused aircraft. 

”” Costco posted stronger sales and earnings than forecast as more people signed up to buy the company's diapers and groceries in bulk. Costco's stock gained $1.92 to $101.56. 

”” Toyota Motor Corp. dropped $1.56 to $74.50 after the carmaker recalled a total of 7.4 million vehicles worldwide for a for a faulty power-window switch, the latest in a series of recalls for Toyota. The recall announced Wednesday affects more than a dozen models produced from 2005 through 2010.


----------



## bigdog

Source: http://finance.yahoo.com 

The market closed roughly flat Thursday, underwhelmed by encouraging jobs news but unrattled by worrisome developments in the global economy. 

In the morning, a government report of fewer jobless claims carried the market higher. The Dow Jones industrial average rose as much as 83 points, shrugging off a widening U.S. trade deficit, higher unemployment in Greece and a ratings cut for Spain. 

By late afternoon, the rally sputtered, and the Dow wavered between small gains and losses. It closed slightly down, along with the Nasdaq composite index, while the Standard & Poor's 500 eked out the tiniest gain. 

Traders, it seemed, were so used to bad news that Thursday's developments didn't really push them one way or the other. 

"There's not a lot to move the market today," said Erik Davidson, deputy chief investment officer of Wells Fargo Private Bank in San Francisco. "Everyone's talking about baseball." 

Joe Costigan, director of equity research at Bryn Mawr Trust Company in Pennsylvania, described Thursday as "a reasonable day." 

"What we're seeing is more of a wave," he said, "not a tide." 

The Dow finished down 18.58 points to 13,326.39. The S&P 500 inched up 0.28 point to 1,432.84. The Nasdaq fell 2.37 points to 3,049.41. 

The Labor Department said that weekly applications for unemployment aid fell to their lowest level since February 2008, before the financial crisis, and when the unemployment rate was much lower ”” 4.9 percent, compared with today's 7.8 percent. 

Citi analysts upgraded U.S. stocks to the equivalent of buy. The analysts, led by Hasan Tevfik and Robert Buckland, argued that stocks are relatively cheap and that central banks seem likely to take more steps to try to boost the economy.

 *The NYSE DOW closed  	LOWER ▼	-18.58	points or ▼	-0.14%	Thursday, 11 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,326.39	▼	-18.58	▼	-0.14%	
	Nasdaq____	3,049.41	▼	-2.37	▼	-0.08%	
	S&P_500__	1,432.84	▲	0.28	▲	0.02%	
	30_Yr_Bond	3.032	▲	0.00	▲	0.00%	

NYSE Volume	 3,621,749,000 			 		 	
Nasdaq Volume	 1,596,786,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,829.75	▲	53.04	▲	0.92%	
	DAX_____	7,281.70	▲	76.47	▲	1.06%	
	CAC_40__	3,413.72	▲	47.85	▲	1.42%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,505.20	▼	-6.70	▼	-0.15%	
	Shanghai_Comp	2,102.87	▼	-17.07	▼	-0.81%	
	Taiwan_Weight	7,451.72	▼	-140.29	▼	-1.85%	
	Nikkei_225____	8,546.78	▼	-49.45	▼	-0.58%	
	Hang_Seng____	20,999.05	▲	53.93	▲	0.38%	
	Strait_Times___	3,032.66	▼	-1.15	▼	-0.04%	
	NZX_50_Index__	3,883.30	▲	0.00	▲	0.00%	

http://finance.yahoo.com/news/marke...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Market flatlines, pulled by jobless claims, Europe

Market ends flat, pulled by good news on jobs and bad news on Europe, trade*

By Christina Rexrode, AP Business Writer

The market closed roughly flat Thursday, underwhelmed by encouraging jobs news but unrattled by worrisome developments in the global economy. 

In the morning, a government report of fewer jobless claims carried the market higher. The Dow Jones industrial average rose as much as 83 points, shrugging off a widening U.S. trade deficit, higher unemployment in Greece and a ratings cut for Spain. 

By late afternoon, the rally sputtered, and the Dow wavered between small gains and losses. It closed slightly down, along with the Nasdaq composite index, while the Standard & Poor's 500 eked out the tiniest gain. 

Traders, it seemed, were so used to bad news that Thursday's developments didn't really push them one way or the other. 

"There's not a lot to move the market today," said Erik Davidson, deputy chief investment officer of Wells Fargo Private Bank in San Francisco. "Everyone's talking about baseball." 

Joe Costigan, director of equity research at Bryn Mawr Trust Company in Pennsylvania, described Thursday as "a reasonable day." 

"What we're seeing is more of a wave," he said, "not a tide." 

The Dow finished down 18.58 points to 13,326.39. The S&P 500 inched up 0.28 point to 1,432.84. The Nasdaq fell 2.37 points to 3,049.41. 

The Labor Department said that weekly applications for unemployment aid fell to their lowest level since February 2008, before the financial crisis, and when the unemployment rate was much lower ”” 4.9 percent, compared with today's 7.8 percent. 

Citi analysts upgraded U.S. stocks to the equivalent of buy. The analysts, led by Hasan Tevfik and Robert Buckland, argued that stocks are relatively cheap and that central banks seem likely to take more steps to try to boost the economy. 

Still, their report wasn't all cheery, and neither were most of the other economic developments Thursday. "Profits are slowing around the world," the Citi analysts wrote, "and (earnings-per-share) expectations need to be cut further, in our view." 

Already this week, the aluminum manufacturer Alcoa kicked off the third-quarter earnings season with a disappointing loss. Thursday, shares of grocery store Safeway slipped more than 3 percent, losing 58 cents to $15.71, after it reported a lower profit margin. 

The Commerce Department reported that foreign demand declined for American-made cars and farm goods. In Germany, economic researchers predicted the country's growth would slow, and warned that patience for bailing out weaker European countries was evaporating. Unemployment in Greece, one of the countries surviving on bailouts, hit a record high of just more than 25 percent. And the Standard & Poor's ratings agency late Wednesday cut its rating on Spain's debt to one level above junk status. 

In Tokyo, where the International Monetary Fund and the World Bank were meeting, IMF chief Christine Lagarde warned that the global economic recovery is weaker than many had expected. She called for urgent action to fix Europe's debt problems and an approaching fiscal crisis in the U.S. 

A few stocks jumped after reports of potential new owners. Sprint Nextel soared more than 14 percent, rising 72 cents to $5.76, after a report that the company could be bought by Softbank, a Japanese cell phone provider. Truck company Oshkosh Corp. jumped more than 7 percent, up $2.05 to $28.90, after activist investor Carl Icahn offered to buy the company. 

The yield on the benchmark 10-year U.S. Treasury note fell by 0.01 percentage point, to 1.67 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks closed out their worst week since June after investors looked over third-quarter corporate earnings reports and decided there wasn't much to get excited about. 

The big indexes were mixed on Friday. But they were all down more than 2 percent for the week. That was their worst weekly showing since the Standard & Poor's 500 index fell 3 percent for the week ending June 1. 

On Friday, the S&P closed down 4.25 points at 1,428.59. The Dow Jones industrial average edged up 2.46 points to close at 13,328.85, giving up an earlier gain of 75. The Nasdaq composite lost 5.30 points to close at 3,044.11. 

Investors haven't had much to like this week, with mixed results from U.S. companies including Alcoa, Safeway and Yum Brands. Investors have seemed unsure how to evaluate the news. This week stocks have posted some of their biggest daily losses in the late morning or early afternoon. 

"It's been a relative downer week in the market this week, and people are going into the weekend not wanting to hang out there too much," said Bill Stone, chief investment strategist for PNC Wealth Management. 

Looking beyond this week, stocks have had a strong run. The S&P 500 is up 11.8 percent since June 1. The run-up suggested that investors were anticipating a strong economic recovery. Now it's put-up or shut-up time for corporate profits. 

"What people have to decide is, is America going into recession with the rest of the world, or are we going to start accelerating and lead the way out of recession for the rest of the world," said Randy Warren, chief investment officer for Warren Financial Service. 

 *The NYSE DOW closed  	HIGHER ▲	2.46	points or ▲	0.02%	Friday, 12 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,328.85	▲	2.46	▲	0.02%	
	Nasdaq____	3,044.11	▼	-5.30	▼	-0.17%	
	S&P_500__	1,428.59	▼	-4.25	▼	-0.30%	
	30_Yr_Bond	2.835	▼	-0.02	▼	-0.70%	

NYSE Volume	 3,132,308,000 			 		 	
Nasdaq Volume	 1,545,531,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,793.32	▼	-36.43	▼	-0.62%	
	DAX_____	7,232.49	▼	-49.21	▼	-0.68%	
	CAC_40__	3,389.08	▼	-24.64	▼	-0.72%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,510.10	▲	4.90	▲	0.11%	
	Shanghai_Comp	2,104.93	▲	2.06	▲	0.10%	
	Taiwan_Weight	7,437.04	▼	-14.68	▼	-0.20%	
	Nikkei_225____	8,534.12	▼	-12.66	▼	-0.15%	
	Hang_Seng____	21,136.43	▲	53.93	▲	0.65%	
	Strait_Times___	3,041.75	▲	9.09	▲	0.30%	
	NZX_50_Index__	3,896.66	▲	13.35	▲	0.34%	

http://finance.yahoo.com/news/stock-market-worst-week-since-201130745.html

*Stock market has its worst week since June

Dow, S&P 500 have their worst week since June as energy and banks stocks lead the market lower*

By Joshua Freed, AP Business Writer

Stocks closed out their worst week since June after investors looked over third-quarter corporate earnings reports and decided there wasn't much to get excited about. 

The big indexes were mixed on Friday. But they were all down more than 2 percent for the week. That was their worst weekly showing since the Standard & Poor's 500 index fell 3 percent for the week ending June 1. 

On Friday, the S&P closed down 4.25 points at 1,428.59. The Dow Jones industrial average edged up 2.46 points to close at 13,328.85, giving up an earlier gain of 75. The Nasdaq composite lost 5.30 points to close at 3,044.11. 

Investors haven't had much to like this week, with mixed results from U.S. companies including Alcoa, Safeway and Yum Brands. Investors have seemed unsure how to evaluate the news. This week stocks have posted some of their biggest daily losses in the late morning or early afternoon. 

"It's been a relative downer week in the market this week, and people are going into the weekend not wanting to hang out there too much," said Bill Stone, chief investment strategist for PNC Wealth Management. 

Looking beyond this week, stocks have had a strong run. The S&P 500 is up 11.8 percent since June 1. The run-up suggested that investors were anticipating a strong economic recovery. Now it's put-up or shut-up time for corporate profits. 

"What people have to decide is, is America going into recession with the rest of the world, or are we going to start accelerating and lead the way out of recession for the rest of the world," said Randy Warren, chief investment officer for Warren Financial Service. 

Financial stocks were the focus on Friday. 

The nation's largest bank, JPMorgan Chase, blew away Wall Street's expectations for quarterly profits. Wells Fargo just edged out profit forecasts but its revenue fell short. 

Wells Fargo fell 93 cents, or 2.6 percent, to $34.25, and JPMorgan fell 48 cents to $41.62. Bank of America fell 22 cents to $9.12. US Bancorp lost 67 cents to $33.72. 

Financial and utility stocks had the biggest declines among the 10 industries in the S&P 500. 

Trucking and logistics company J.B. Hunt Transport Services Inc. rose $3.58, or 6.5 percent, to $58.37 after its third-quarter profit rose almost 14 percent on strong growth in handling containers that move by ship, rail, or truck. 

Advanced Micro Devices Inc. dropped 46 cents, or 14 percent, to $2.74, after the chipmaker said its third-quarter revenue will fall about 10 percent from the second quarter because of weak demand for its products. 

Workday Inc.'s initial public offering popped. The company provides remote storage for human resources and finance. The stock rose $20.69, or 73.9 percent, to $48.69 on its first day of trading. 

European markets were mostly lower. The Britain's FTSE 100 fell 0.6 percent, while Germany's DAX and France's CAC-40 each gave up 0.7 percent. 

Trading was steady in other markets too. The euro edged up 0.3 percent to $1.296 and the benchmark oil price was 21 cents lower at $91.86 per barrel in New York trading. 

The yield on the 10-year Treasury note edged down to 1.66 percent from 1.67 percent late Thursday.

2177


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks rose on Monday after a strong gain in retail spending suggested that consumers could be getting more confident about the economy. Bank stocks rose broadly after Citigroup delivered a strong earnings report. 

The Dow rose 95.38 points to close at 13,424.23, its biggest gain since September 13. 

The Standard & Poor's 500 index was up 11.54 points at 1,440.13 and the Nasdaq composite index rose 20.07 points to 3,064.18. 

Companies that rely on consumer spending, like Lowe's, TJX Cos. and Yum Brands, rose after the government reported that retail sales rose 1.1 percent in the U.S. last month. The Commerce Department also revised August growth up to 1.2 percent, marking the two largest gains since October 2010. 

Sales rose in most major categories. Electronics and appliances jumped 4.5 percent with help from the new iPhone. Sales at auto dealers increased 1.3 percent. Building materials and garden supplies, furniture and clothing sales all gained, too. 

"The retail sales numbers tell us that the economy in general, and consumer spending in particular, probably did better than most expected in the third quarter," said Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors. 

Citigroup rose $1.91, or 5.5 percent, to $36.66 after beating beat Wall Street earnings estimates. 

Most other financial stocks followed Citi higher. Bank of America rose 3.5 percent, and JPMorgan Chase rose 1.8 percent. However, Wells Fargo continued to struggle after reporting a record profit on Friday. Analysts warned it might have trouble making money on interest payments for loans. Its stock fell 1 percent on Monday, after dropping on Friday, too. 

Economic figures from China helped support markets in Europe at the start of a week that could offer greater clarity on the economic fates of Greece and Spain. 

China's inflation rate fell to 1.9 percent in September from 2 percent the month before, reinforcing investor hopes for more stimulus in the world's second-largest economy. 

 *The NYSE DOW closed  	HIGHER ▲	95.38	points or ▲	0.72%	Monday, 15 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,424.23	▲	95.38	▲	0.72%	
	Nasdaq____	3,064.18	▲	20.07	▲	0.66%	
	S&P_500__	1,440.13	▲	11.54	▲	0.81%	
	30_Yr_Bond	2.843	▲	0.01	▲	0.28%	

NYSE Volume	 3,462,843,000 			 		 	
Nasdaq Volume	 1,563,121,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,805.61	▲	12.29	▲	0.21%	
	DAX_____	7,261.25	▲	28.76	▲	0.40%	
	CAC_40__	3,420.28	▲	31.20	▲	0.92%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,505.50	▼	-4.60	▼	-0.10%	
	Shanghai_Comp	2,098.70	▼	-6.23	▼	-0.30%	
	Taiwan_Weight	7,418.90	▼	-18.14	▼	-0.24%	
	Nikkei_225____	8,577.93	▲	43.81	▲	0.51%	
	Hang_Seng____	21,148.25	▲	53.93	▲	0.06%	
	Strait_Times___	3,043.05	▲	1.30	▲	0.04%	
	NZX_50_Index__	3,916.36	▲	0.00	▲	0.00%	

http://finance.yahoo.com/news/stocks-higher-retail-sales-improve-134031090.html

*Stocks higher after retail sales improve

Stocks rise after strong retail sales report; Citi beats earnings estimates, drugmakers rise*

By Joshua Freed, AP Business Writer

Stocks rose on Monday after a strong gain in retail spending suggested that consumers could be getting more confident about the economy. Bank stocks rose broadly after Citigroup delivered a strong earnings report. 

The Dow rose 95.38 points to close at 13,424.23, its biggest gain since September 13. 

The Standard & Poor's 500 index was up 11.54 points at 1,440.13 and the Nasdaq composite index rose 20.07 points to 3,064.18. 

Companies that rely on consumer spending, like Lowe's, TJX Cos. and Yum Brands, rose after the government reported that retail sales rose 1.1 percent in the U.S. last month. The Commerce Department also revised August growth up to 1.2 percent, marking the two largest gains since October 2010. 

Sales rose in most major categories. Electronics and appliances jumped 4.5 percent with help from the new iPhone. Sales at auto dealers increased 1.3 percent. Building materials and garden supplies, furniture and clothing sales all gained, too. 

"The retail sales numbers tell us that the economy in general, and consumer spending in particular, probably did better than most expected in the third quarter," said Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors. 

Citigroup rose $1.91, or 5.5 percent, to $36.66 after beating beat Wall Street earnings estimates. 

Most other financial stocks followed Citi higher. Bank of America rose 3.5 percent, and JPMorgan Chase rose 1.8 percent. However, Wells Fargo continued to struggle after reporting a record profit on Friday. Analysts warned it might have trouble making money on interest payments for loans. Its stock fell 1 percent on Monday, after dropping on Friday, too. 

Economic figures from China helped support markets in Europe at the start of a week that could offer greater clarity on the economic fates of Greece and Spain. 

China's inflation rate fell to 1.9 percent in September from 2 percent the month before, reinforcing investor hopes for more stimulus in the world's second-largest economy. 

Good news for two major drugmakers boosted pharmaceutical stocks and pushed the whole health sector to the biggest gains among 10 industry groups in the S&P 500. 

Eli Lilly said a potential stomach cancer treatment met goals for improved patient survival. It hasn't yet submitted the drug, ramucirumab, for government approval. 

And Abbott Laboratories said an experimental drug regimen cured 99 percent of patients with hepatitis C. Patients in the trial had genotype 1 hepatitis C, the most common type in the Western world, and the hardest to treat. 

Eli Lilly rose $2.08, or 4 percent, to $52.53. Abbott rose $2.77, also 4 percent, to $72.05. Other drugmakers also rose. Pfizer and Merck rose more than 1 percent and Bristol-Myers Squibb rose 2.5 percent. 

Telecommunications stocks were the only declining industry among the 10 in the S&P 500. 

Travel deals website operator Travelzoo Inc. fell again after warning on Friday that its poorly-performing hotel search business will hurt third-quarter results. On Monday, its stock fell 85 cents, or 4.2 percent, to $19.17. 

Home health care provider Amedisys Inc. fell $1.25, or 9.4 percent, to $12.08 after saying revenue from health insurer Humana Inc. will shrink. 

Investors sold government bonds and drove yields slightly higher. The yield on the 10-year U.S. Treasury note rose to 1.67 percent from 1.66 percent Friday. 

The price of crude oil fell a penny to finish at $91.85 on the New York Mercantile Exchange.


----------



## bigdog

Source: http://finance.yahoo.com 

Inflation is low, earnings are high, investors are happy. 

Stocks shot higher Tuesday, giving the market its biggest gain in a month. Results at Mattel, Goldman Sachs, and Johnson & Johnson were all above expectations. 

It was the second day of broad gains following a down week last week. Investors had been worried headed into the third-quarter earnings season that corporate profits wouldn't be good enough to justify the run-up in stocks in recent months. While earnings haven't been out-of-the-park great, they haven't been as bad as some had feared. 

Also Tuesday, the Labor Department said consumer prices rose just 0.1 percent last month, not counting food and energy costs. And gasoline prices have come down since then. Low inflation leaves consumers with more money to spend, and leaves the Federal Reserve free to continue its efforts to boost the economy. 

In addition, an index of homebuilder sentiment came in at its highest level since 2006, suggesting that the construction industry is making a comeback. 

"The picture of the economy is one that's still proving to be resilient to a lot of the problems that investors are worried about," said Gary Thayer, chief macro strategist for Wells Fargo Advisors. 

The Dow Jones industrial average rose 127.55 points to close at 13,551.78, its biggest gain since Sept. 13. 

The Standard & Poor's 500 index rose 14.79 points to 1,454.92, and the Nasdaq composite rose 36.99 to 3,101.17. 

The gains were broad, with nine out of 10 industry groups in the S&P 500 index rising. Telecom stocks had a tiny decline. Materials stocks rose 2.4 percent. 

 *The NYSE DOW closed  	HIGHER ▲	127.55	points or ▲	0.95%	Tuesday, 16 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,551.78	▲	127.55	▲	0.95%	
	Nasdaq____	3,101.17	▲	36.99	▲	1.21%	
	S&P_500__	1,454.92	▲	14.79	▲	1.03%	
	30_Yr_Bond	2.915	▲	0.07	▲	2.53%	

NYSE Volume	 3,539,710,000 			 		 	
Nasdaq Volume	 1,735,775,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,870.54	▲	64.93	▲	1.12%	
	DAX_____	7,376.27	▲	115.02	▲	1.58%	
	CAC_40__	3,500.94	▲	80.66	▲	2.36%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,513.90	▲	8.40	▲	0.19%	
	Shanghai_Comp	2,098.81	▲	0.11	▲	0.01%	
	Taiwan_Weight	7,471.02	▲	52.12	▲	0.70%	
	Nikkei_225____	8,701.31	▲	123.38	▲	1.44%	
	Hang_Seng____	21,207.07	▲	53.93	▲	0.28%	
	Strait_Times___	3,046.81	▲	3.76	▲	0.12%	
	NZX_50_Index__	3,940.70	▲	24.33	▲	0.62%	

http://finance.yahoo.com/news/earni...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Earnings propel Dow to its biggest jump in a month

Stocks snap higher on stronger earnings from Mattel, others; Dow's gain is biggest in a month*

By Joshua Freed, AP Business Writer 

Inflation is low, earnings are high, investors are happy. 

Stocks shot higher Tuesday, giving the market its biggest gain in a month. Results at Mattel, Goldman Sachs, and Johnson & Johnson were all above expectations. 

It was the second day of broad gains following a down week last week. Investors had been worried headed into the third-quarter earnings season that corporate profits wouldn't be good enough to justify the run-up in stocks in recent months. While earnings haven't been out-of-the-park great, they haven't been as bad as some had feared. 

Also Tuesday, the Labor Department said consumer prices rose just 0.1 percent last month, not counting food and energy costs. And gasoline prices have come down since then. Low inflation leaves consumers with more money to spend, and leaves the Federal Reserve free to continue its efforts to boost the economy. 

In addition, an index of homebuilder sentiment came in at its highest level since 2006, suggesting that the construction industry is making a comeback. 

"The picture of the economy is one that's still proving to be resilient to a lot of the problems that investors are worried about," said Gary Thayer, chief macro strategist for Wells Fargo Advisors. 

The Dow Jones industrial average rose 127.55 points to close at 13,551.78, its biggest gain since Sept. 13. 

The Standard & Poor's 500 index rose 14.79 points to 1,454.92, and the Nasdaq composite rose 36.99 to 3,101.17. 

The gains were broad, with nine out of 10 industry groups in the S&P 500 index rising. Telecom stocks had a tiny decline. Materials stocks rose 2.4 percent. 

Mattel jumped 5 percent after reporting that brisk sales of American Girl dolls and Fisher-Price toys sent the company's profit well above analysts' forecasts. The stock gained $1.78 to $37.20. 

Johnson & Johnson rose 95 cents to $69.55 after revenues came in ahead of Wall Street's forecasts. 

Among companies reporting after the closing bell, IBM fell in after-hours trading after its revenues came up short of Wall Street's forecasts. Intel fell after its earnings and revenue came in below forecasts. 

Other stocks making big moves included: 

Apple rose $15.03, or 2.4 percent, to $649.79 after the company sent out invitations for an event next Tuesday where it is expected to announce a smaller iPad. 

Citigroup rose 59 cents $37.25 following the sudden departure of CEO Vikram Pandit, who had steered the bank through the 2008 financial crisis. Pandit, who is also stepping down from the company's board, is being replaced by longtime Citi executive Michael Corbat. 

A123 Systems Inc., a maker of electric batteries for vehicles, put its U.S. operations into Chapter 11 bankruptcy protection and said its automotive assets will be acquired by Johnson Controls for $125 million. A123's stock plunged 18 cents to 6 cents. 

The yield on the benchmark 10-year Treasury note rose to 1.72 percent from 1.67 percent late Monday. 

European markets also rose. Benchmark indexes were up 1.6 percent in Germany, 2.4 percent in France and 1.1 percent in Britain. 

The euro rose to almost $1.30 against the dollar from $1.29 the day before.


----------



## bigdog

Source: http://finance.yahoo.com 

	A surprisingly strong housing report helped push the stock market mostly higher Wednesday, while weak earnings reports from Intel and IBM weighed on the Dow Jones industrial average. 

Even though the two tech giants disappointed, overall earnings results have come in much better than some investors had feared, said Dan Veru, chief investment officer at Palisade Capital Management in Fort Lee, N.J. 

"Everyone is breathing a sigh of relief that things aren't all that bad," Veru said. "That's what you see happening now." 

The Dow edged up 5.22 points to close at 13,557, barely managing its fourth straight day of gains. The broader Standard & Poor's 500 index gained 5.99 points to 1,460.91. 

Better results from Mattel, Goldman Sachs, and Johnson & Johnson shot the stock market higher Tuesday. For the week, the Dow is up 1.7 percent and the S&P 500 is up 2.3 percent. 

Heading into this earnings season, FedEx, Caterpillar and other global heavyweights had warned investors that China's slowing economy and Europe's ongoing debt crisis would weigh on quarterly profits. 

Analysts still expect that third-quarter earnings for companies in the S&P 500 will shrink for the first time since 2009. 

IBM reported sales late Tuesday that missed Wall Street's expectations. On a call with analysts, IBM's chief financial officer said the company faced "more challenging" market conditions in September, the final month of the quarter, as cautious customers and a weakening euro undercut its results. IBM's stock sank $10.37 to $200.63. 

Without IBM's drop, the Dow would have been 79 points higher. Stocks with higher prices carry more weight in the average of 30 large companies. Every move of $1 in any Dow stock is equivalent to moving the Dow average 7.68 points. 

 *The NYSE DOW closed  	HIGHER ▲	5.22	points or ▲	0.04%	Wednesday, 17 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,557.00	▲	5.22	▲	0.04%	
	Nasdaq____	3,104.12	▲	2.95	▲	0.10%	
	S&P_500__	1,460.91	▲	5.99	▲	0.41%	
	30_Yr_Bond	2.988	▲	0.07	▲	2.50%	

NYSE Volume	 3,633,108,750 			 		 	
Nasdaq Volume	 1,770,906,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,910.91	▲	40.37	▲	0.69%	
	DAX_____	7,394.55	▲	18.28	▲	0.25%	
	CAC_40__	3,527.50	▲	26.56	▲	0.76%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,550.90	▲	37.00	▲	0.82%	
	Shanghai_Comp	2,105.62	▲	6.81	▲	0.32%	
	Taiwan_Weight	7,464.40	▼	-6.62	▼	-0.09%	
	Nikkei_225____	8,806.55	▲	105.24	▲	1.21%	
	Hang_Seng____	21,416.64	▲	53.93	▲	0.99%	
	Strait_Times___	3,049.64	▲	2.83	▲	0.09%	
	NZX_50_Index__	3,965.18	▲	24.48	▲	0.62%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stock market edges up on stronger housing report

Housing report pushes most stocks higher; weak results from IBM and Intel cap the Dow's gains*

By Matthew Craft, AP Business Writer

A surprisingly strong housing report helped push the stock market mostly higher Wednesday, while weak earnings reports from Intel and IBM weighed on the Dow Jones industrial average. 

Even though the two tech giants disappointed, overall earnings results have come in much better than some investors had feared, said Dan Veru, chief investment officer at Palisade Capital Management in Fort Lee, N.J. 

"Everyone is breathing a sigh of relief that things aren't all that bad," Veru said. "That's what you see happening now." 

The Dow edged up 5.22 points to close at 13,557, barely managing its fourth straight day of gains. The broader Standard & Poor's 500 index gained 5.99 points to 1,460.91. 

Better results from Mattel, Goldman Sachs, and Johnson & Johnson shot the stock market higher Tuesday. For the week, the Dow is up 1.7 percent and the S&P 500 is up 2.3 percent. 

Heading into this earnings season, FedEx, Caterpillar and other global heavyweights had warned investors that China's slowing economy and Europe's ongoing debt crisis would weigh on quarterly profits. 

Analysts still expect that third-quarter earnings for companies in the S&P 500 will shrink for the first time since 2009. 

IBM reported sales late Tuesday that missed Wall Street's expectations. On a call with analysts, IBM's chief financial officer said the company faced "more challenging" market conditions in September, the final month of the quarter, as cautious customers and a weakening euro undercut its results. IBM's stock sank $10.37 to $200.63. 

Without IBM's drop, the Dow would have been 79 points higher. Stocks with higher prices carry more weight in the average of 30 large companies. Every move of $1 in any Dow stock is equivalent to moving the Dow average 7.68 points. 

Intel warned that sales of personal computers will likely remain weak during the holiday season this year. The chip-maker cut its revenue estimates for the year-end quarter when it reported results late Tuesday. Intel's stock fell 56 cents to $21.79. 

The Commerce Department said Wednesday that builders broke ground on building new single-family houses and apartments at the fastest pace since July 2008. Housing starts surged to an annual rate of 872,000 in September, far above estimates by economists. 

"You might think it's a misprint," said Dan Greenhaus, chief global strategist at BTIG, in a note to clients. But over the past year, housing starts have climbed by 43 percent. 

"If there was any doubt that the housing market was undergoing a recovery, even a modest one in the face of the terrible 2008 decline, those doubts should be erased by now," Greenhaus said. 

In other trading, the Nasdaq composite index inched up 2.95 points to 3,104.12. More than two stocks rose for every one that fell on the New York Stock Exchange. 

The housing report helped lift the yield on the 10-year Treasury note to 1.81 percent from 1.72 percent late Tuesday. Better economic news usually sends traders out of safe assets like Treasurys, and when bond prices fall their yields rise. 

The 10-year Treasury yield, a standard benchmark for mortgages and other loans, started October at 1.63 percent. 

Among other companies making big moves Wednesday: 

”” Dean Foods led all stocks in the S&P 500 with a 13 percent jump. The dairy company offered more details about its planned spin-off of a subsidiary, WhiteWave, the producer of Silk Soymilk. Dean Foods said it will keep at least 80 percent of WhiteWave after the company's initial public offering. The company's stock rose $1.92 to $16.96. 

”” The University of Phoenix's parent company, the Apollo Group, plunged 22 percent, the biggest drop in the S&P 500. A sharp drop in student enrollment has cut into profits, Apollo reported late Tuesday. To cope with shrinking enrollment, Apollo plans to close 115 of the university's mostly smaller locations. Its stock lost $6.09 to $21.40. 

”” Bank of New York Mellon surged $1.30 to $24.86 after reporting net income and revenue that topped analysts' estimates. The bank slashed expenses and collected more fees for managing investments. Investment income more than doubled from the year before.


----------



## bigdog

Source: http://finance.yahoo.com 

Google plummeted almost $80 per share, more than 10 percent, and trading in the stock was halted two and a half hours Thursday after a disappointing earnings report was published ahead of schedule and surprised investors. 

Bleak figures in the report about online advertising dragged down Facebook stock, too, and the Nasdaq composite index skidded 1 percent on a day when the broader stock market was mostly flat. 

Google was trading at $754 per share at 12:30 p.m. EDT, then fell almost $20 in a minute after investors saw the report, a draft. It dropped as low as $676, and Google halted trading at 12:50 p.m., with the stock at $687. 

The stock was halted until 3:20 p.m. Companies routinely halt trading when they have news to release to investors during the market day, but two and a half hours is an unusually long suspension. 

When trading in Google resumed, the stock climbed slightly, but it still finished down $60.49, or 8 percent, at $695. 

Google blamed a printing company, R.R. Donnelley & Sons, for filing its quarterly statement with the Securities and Exchange Commission more than three hours ahead of schedule. 

R.R. Donnelley & Sons stock also plunged ”” as much as 71 cents, or 6.5 percent, to $10.14 ”” after the mistake. It later recovered most of the loss and ended the day down 9 cents. 

The Google report said it earned $2.18 billion from July through September, down from $2.73 billion in the same period a year ago. 

Profit came to $6.53 per share, and would have been $9.03 if not for accounting costs from employee stock compensation and restructuring charges related to Google's acquisition of Motorola Mobility, a cellphone maker. 

 *The NYSE DOW closed  	LOWER ▼	-8.06	points or ▼	-0.06%	Thursday, 18 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,548.94	▼	-8.06	▼	-0.06%	
	Nasdaq____	3,072.87	▼	-31.25	▼	-1.01%	
	S&P_500__	1,457.34	▼	-3.57	▼	-0.24%	
	30_Yr_Bond	3.007	▲	0.02	▲	0.64%	

NYSE Volume	 3,833,860,750 			 		 	
Nasdaq Volume	 2,043,600,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,917.05	▲	6.14	▲	0.10%	
	DAX_____	7,437.23	▲	42.68	▲	0.58%	
	CAC_40__	3,535.18	▲	7.68	▲	0.22%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,580.90	▲	30.00	▲	0.66%	
	Shanghai_Comp	2,131.69	▲	26.07	▲	1.24%	
	Taiwan_Weight	7,465.41	▲	1.01	▲	0.01%	
	Nikkei_225____	8,982.86	▲	176.31	▲	2.00%	
	Hang_Seng____	21,518.71	▲	53.93	▲	0.48%	
	Strait_Times___	3,060.36	▲	14.69	▲	0.48%	
	NZX_50_Index__	4,001.95	▲	36.77	▲	0.93%	

http://finance.yahoo.com/news/googl...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Google issues a bad report early, hurting Nasdaq

Nasdaq falls after Google releases a bad report early; broader stock market flat*

By Matthew Craft, AP Business Writer							

Google plummeted almost $80 per share, more than 10 percent, and trading in the stock was halted two and a half hours Thursday after a disappointing earnings report was published ahead of schedule and surprised investors. 

Bleak figures in the report about online advertising dragged down Facebook stock, too, and the Nasdaq composite index skidded 1 percent on a day when the broader stock market was mostly flat. 

Google was trading at $754 per share at 12:30 p.m. EDT, then fell almost $20 in a minute after investors saw the report, a draft. It dropped as low as $676, and Google halted trading at 12:50 p.m., with the stock at $687. 

The stock was halted until 3:20 p.m. Companies routinely halt trading when they have news to release to investors during the market day, but two and a half hours is an unusually long suspension. 

When trading in Google resumed, the stock climbed slightly, but it still finished down $60.49, or 8 percent, at $695. 

Google blamed a printing company, R.R. Donnelley & Sons, for filing its quarterly statement with the Securities and Exchange Commission more than three hours ahead of schedule. 

R.R. Donnelley & Sons stock also plunged ”” as much as 71 cents, or 6.5 percent, to $10.14 ”” after the mistake. It later recovered most of the loss and ended the day down 9 cents. 

The Google report said it earned $2.18 billion from July through September, down from $2.73 billion in the same period a year ago. 

Profit came to $6.53 per share, and would have been $9.03 if not for accounting costs from employee stock compensation and restructuring charges related to Google's acquisition of Motorola Mobility, a cellphone maker. 

Still, analysts polled by FactSet, a provider of financial data, were expecting $10.63 per share. 

Besides disappointing investors, the report was an embarrassment for Google. Near the top of the draft, the report said, "PENDING LARRY QUOTE," apparently a place to insert a quote from Larry Page, one of Google's founders. 

The earnings report said that Google made about 15 percent less than a year earlier each time a user clicks on an online ad. That is the fourth straight quarter of erosion in Google's ad prices. 

It is a warning sign for Facebook, which is trying to figure out how to make money off advertising on mobile devices. 

Facebook stock declined 90 cents, or 4.6 percent, at $18.98, with most of the loss coming after Google's earnings report. The company went public in May at $38, but it has fallen as low as $17.55, in part because of investor concerns about ads. 

"Google and Facebook are very reliant on online ads," said Scott Kessler, head of technology sector equity research at S&P Capital IQ, a research firm. "So if Google's results indicate a lack of demand and growth, that's obviously a worry for Facebook." 

Google is the third-largest component in the Nasdaq composite, behind Apple and Microsoft. The Nasdaq finished down 31.25 points at 3,072.87. 

The broader market fared better: The Dow Jones industrial average closed down 8.06 points, or 0.06 percent, at 13,549.94. The Standard & Poor's 500 index fell 3.57 points, or 0.2 percent, to 1,457.34. 

The broader market is "waiting for a clear catalyst," said Quincy Krosby, market strategist at Prudential Financial. What investors most want, she said, is a sense of direction about earnings and the economy. 

"We basically know what happened in the last quarter," Krosby said. "What we're looking for is what's next: Are we turning a corner? Will demand pick up at the end of the year?" 

Analysts expect S&P 500 companies to say that overall earnings shrank in the third quarter compared with a year ago, according to S&P Capital IQ. That would be the first drop in exactly three years. 

American Express reported quarterly revenue late Wednesday that fell short of Wall Street's expectations even though earnings were in line. Amex said card holders' rate of spending has slowed in recent months. Its stock lost $1.76 to $57.61. 

Strong profits for the insurer Travelers sent its stock up 3.6 percent. The company said claims from catastrophes plunged compared to the same quarter last year, which helped earnings double. Travelers' stock gained $2.56 to $73.94. 

BB&T bank, Philip Morris International and Boston Scientific all fell after reporting results that fell short of forecasts. Microsoft fell in after-hours trading after reporting its earnings. 

Weekly applications for unemployment benefits surged to a four-month high, a sharp rise from the previous week. The Labor Department pointed to technical reasons behind the swing, mainly delayed figures from one large state, California. 

Better earnings from Johnson & Johnson and other companies, along with encouraging reports on industrial production and the housing market, have pushed the stock market higher this week. The Dow is up 1.6 percent and the S&P 500 is up 2 percent. 

In other trading Thursday, the yield on the 10-year Treasury note was 1.83 percent, up from 1.82 percent Wednesday. The euro lost 0.4 cent against the dollar to $1.307. Crude oil fell 2 cents to $92.10 per barrel. 

Among other stocks making big moves: 

”” EBay jumped $2.63, or 5.4 percent, to $50.83 after posting better net income and more revenue from its PayPal payments service and its online markets. The company also raised its full-year estimates for earnings and sales. 

”” Verizon Communications surged $1.06, or 2.4 percent, to $45.78. The company said its wireless division signed up more customers in the quarter. Verizon said its customers also added more devices to its Share Everything plan.


----------



## bigdog

Source: http://finance.yahoo.com 

Dow falls 205 as weak earnings drag stock market lower; GE, Microsoft, McDonald's disappoint

Poor corporate earnings reports pounded the stock market Friday in a sour end to an otherwise strong week of trading. The Dow Jones industrial average fell more than 200 points for its worst day in four months. 

Disappointing results from three giants of the Dow ”” Microsoft, General Electric and McDonald's ”” were to blame. But the broader market fell, too, and the Standard & Poor's 500 index fared even worse in percentage terms. 

The Dow sank 205.43 points, or 1.5 percent, to close at 13,343.51. The S&P lost 24.15, or 1.7 percent, to 1,433.19. The Nasdaq composite index, hammered by a second ugly day for Google, lost 67.25 points to 3,005.62, a 2.2 percent decline. 

The big drops Friday left the Dow and S&P clinging to gains for the week. 

Financial analysts expect corporate earnings for July through September to be lower than the same period a year ago, which would be the first yearly decline in three years. 

Through Thursday, with 115 companies in the S&P 500 reporting, earnings were down 3.7 percent compared with a year earlier, according to Thomson Reuters, a financial data provider, and ING, a financial company. 

"And once you get one quarter of negative earnings, it's a precursor," said Doug Cote, chief market strategist at ING Investment Management in New York. "It's the cockroach theory: If you find one, there's probably many more." 

All 10 industry groups in the S&P 500 fell, led by technology and materials stocks. For a time Home Depot and Bank of America were the only stocks in the Dow trading higher for the day, but by 3 p.m. they were lower, too. 

Google continued its slump, losing $13.21 to $681.79, a day after its earnings report was accidently hours ahead of schedule. The report raised questions for Google and other Internet companies about ads that target mobile devices. 

It's been a tough week for technology companies. IBM pointed to Europe's troubles and slowing business spending when it posted weaker revenue than analysts expected. Intel, the world's largest maker of computer chips, blamed the global economy and sliding computer sales for pushing net income down. 

The bad news piled up Friday. Sagging PC sales and trouble in Europe took a toll on Microsoft's net income. Its stock lost 86 cents, or 3 percent, to $28.64. Marvell Technology Group and Advanced Micro Devices, which also make chips, sank sharply. 

 *The NYSE DOW closed  	LOWER ▼	-205.43	points or ▼	-1.52%	Friday, 19 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,343.51	▼	-205.43	▼	-1.52%	
	Nasdaq____	3,005.62	▼	-67.25	▼	-2.19%	
	S&P_500__	1,433.19	▼	-24.15	▼	-1.66%	
	30_Yr_Bond	2.937	▼	-0.07	▼	-2.33%	

NYSE Volume	 3,851,327,000 			 		 	
Nasdaq Volume	 2,225,780,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,896.15	▼	-20.90	▼	-0.35%	
	DAX_____	7,380.64	▼	-56.59	▼	-0.76%	
	CAC_40__	3,504.56	▼	-30.62	▼	-0.87%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,593.50	▲	12.60	▲	0.28%	
	Shanghai_Comp	2,128.30	▼	-3.39	▼	-0.16%	
	Taiwan_Weight	7,408.76	▼	-56.65	▼	-0.76%	
	Nikkei_225____	9,002.68	▲	19.82	▲	0.22%	
	Hang_Seng____	21,551.76	▲	53.93	▲	0.15%	
	Strait_Times___	3,048.92	▼	-11.44	▼	-0.37%	
	NZX_50_Index__	3,988.16	▼	-13.79	▼	-0.34%	

http://finance.yahoo.com/news/dow-down-205-weak-earnings-200703231.html

*Dow down 205 as weak earnings drag market lower

Dow falls 205 as weak earnings drag stock market lower; GE, Microsoft, McDonald's disappoint*

By Matthew Craft, AP Business Writer							

Poor corporate earnings reports pounded the stock market Friday in a sour end to an otherwise strong week of trading. The Dow Jones industrial average fell more than 200 points for its worst day in four months. 

Disappointing results from three giants of the Dow ”” Microsoft, General Electric and McDonald's ”” were to blame. But the broader market fell, too, and the Standard & Poor's 500 index fared even worse in percentage terms. 

The Dow sank 205.43 points, or 1.5 percent, to close at 13,343.51. The S&P lost 24.15, or 1.7 percent, to 1,433.19. The Nasdaq composite index, hammered by a second ugly day for Google, lost 67.25 points to 3,005.62, a 2.2 percent decline. 

The big drops Friday left the Dow and S&P clinging to gains for the week. 

Financial analysts expect corporate earnings for July through September to be lower than the same period a year ago, which would be the first yearly decline in three years. 

Through Thursday, with 115 companies in the S&P 500 reporting, earnings were down 3.7 percent compared with a year earlier, according to Thomson Reuters, a financial data provider, and ING, a financial company. 

"And once you get one quarter of negative earnings, it's a precursor," said Doug Cote, chief market strategist at ING Investment Management in New York. "It's the cockroach theory: If you find one, there's probably many more." 

All 10 industry groups in the S&P 500 fell, led by technology and materials stocks. For a time Home Depot and Bank of America were the only stocks in the Dow trading higher for the day, but by 3 p.m. they were lower, too. 

Google continued its slump, losing $13.21 to $681.79, a day after its earnings report was accidently hours ahead of schedule. The report raised questions for Google and other Internet companies about ads that target mobile devices. 

It's been a tough week for technology companies. IBM pointed to Europe's troubles and slowing business spending when it posted weaker revenue than analysts expected. Intel, the world's largest maker of computer chips, blamed the global economy and sliding computer sales for pushing net income down. 

The bad news piled up Friday. Sagging PC sales and trouble in Europe took a toll on Microsoft's net income. Its stock lost 86 cents, or 3 percent, to $28.64. Marvell Technology Group and Advanced Micro Devices, which also make chips, sank sharply. 

McDonald's profit shrank as a strong dollar hurt international results, which account for two-thirds of its business. The fast-food giant's stock lost $4.14, more than 4 percent, to $88.72. 

General Electric, a bellwether of the economy, fell 3 percent. The company reported stronger profits early Friday, but its revenue missed Wall Street's expectations. 

Orders for new equipment and services sank, mainly because wind turbine orders have fallen because a key U.S. federal subsidy for wind power expires at the end of the year. GE's stock lost 78 cents to $22.03. 

As corporate earnings roll in, banks and so-called consumer discretionary companies, which include luxury stores and hotels, are projected to report the best growth. 

Analysts expect companies dealing in metals and other materials to report the worst results, followed by energy companies. But it's technology companies like IBM, Intel and Google whose results have grabbed the most attention. 

The losses left the Dow up just 0.1 percent for the week. The S&P was up 0.3 percent, and the Nasdaq was down 1.3 percent. 

As investors sold stocks, they bought U.S. government bonds, driving prices up and yields down. The yield on the benchmark 10-year Treasury note slipped to 1.77 percent from 1.83 percent late Thursday. 

The disappointing earnings and a report showing a drop in home sales last month also pushed energy prices lower. The price of oil fell 2.2 percent on the New York Mercantile Exchange. Benchmark crude lost $2.05 to end at $90.05 per barrel. 

Among other stocks making big moves: 

”” Chipotle Mexican Grill plunged 15 percent after the burrito chain forecast that revenue growth would slow sharply next year. The stock had been a favorite among investors thanks to super-fast growth in recent years. The stock fell $42.93 to $243. 

”” Capital One Financial surged 6 percent, making it the top performer in the S&P 500. Capital One's quarterly results, reported late Thursday, easily trumped analysts' estimates as profits jumped 47 percent. The lender's purchase of both the online bank ING Direct and HSBC's U.S. credit-card division helped propel loan revenue. Capital One's stock gained $3.45 to $60.75. 

”” Advanced Micro Devices, the world's second-largest maker of microprocessors behind Intel, plunged 17 percent. AMD said late Thursday that sales of its chips have dwindled as buyers shift away from personal computers in favor of tablets and smartphones. It also plans to cut 15 percent of its workforce. AMD lost 44 cents to $2.18.

3225


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market is waiting for the presidential election as much as anyone. 

The U.S. stock market struggled for direction Monday. All three major indexes waffled between gains and losses before closing slightly higher. Investors were underwhelmed by earnings reports from toymaker Hasbro, clothing maker VF Corp., regional bank SunTrust and other companies. 

The overhang of the presidential election in two weeks didn't help. Investors are wary of making big moves before they know who's going to be the next president. 

"They need to know the playing field before they get out there and play," said Jeff Savage, regional chief investment officer for Wells Fargo Private Bank in Portland, Oregon. 

David Katz, principal and senior portfolio strategist at WeiserMazars Wealth Advisors in New York, said it matters more that the election is wrapped up than who is elected. 

"One could say the markets will rally stronger if the Republican candidate becomes president," Katz said. "But one way or another, the markets will have direction, and the markets like direction." 

The Dow Jones industrial average ended virtually flat. It inched up 2.38 points, or 0.02 percent, to close at 13,345.89. A late rise erased a 108-point deficit in the Dow. 

The Standard & Poor's 500 index was also little changed, edging up 0.62 point to 1,433.81. The Nasdaq composite index rose 11.34 to 3,016.96. 

Besides the election, an economic report due Friday also has the markets in a holding pattern. That's when the government is supposed to report how much the U.S. economy grew in the third quarter. But already, company reports are signaling that consumers, who drive the bulk of economic growth, are far from healed. 

 *The NYSE DOW closed  	HIGHER ▲	2.38	points or ▲	0.02%	Monday, 22 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,345.89	▲	2.38	▲	0.02%	
	Nasdaq____	3,016.96	▲	11.34	▲	0.38%	
	S&P_500__	1,433.82	▲	0.63	▲	0.04%	
	30_Yr_Bond	2.947	▲	0.01	▲	0.34%	

NYSE Volume	 3,189,096,500 			 		 	
Nasdaq Volume	 1,654,094,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,882.91	▼	-13.24	▼	-0.22%	
	DAX_____	7,328.05	▼	-52.59	▼	-0.71%	
	CAC_40__	3,483.25	▼	-21.31	▼	-0.61%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,564.60	▼	-28.90	▼	-0.63%	
	Shanghai_Comp	2,132.76	▲	4.46	▲	0.21%	
	Taiwan_Weight	7,373.04	▼	-35.72	▼	-0.48%	
	Nikkei_225____	9,010.71	▲	8.03	▲	0.09%	
	Hang_Seng____	21,697.55	▲	53.93	▲	0.68%	
	Strait_Times___	3,045.67	▼	-3.25	▼	-0.11%	
	NZX_50_Index__	3,988.16	▼	-13.79	▼	-0.34%	

http://finance.yahoo.com/news/marke...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Market waits for election; earnings disappoint

Earnings from toys, clothes and banks fail to impress; investors wait for election clarity*

By Christina Rexrode, AP Business Writer 							

The stock market is waiting for the presidential election as much as anyone. 

The U.S. stock market struggled for direction Monday. All three major indexes waffled between gains and losses before closing slightly higher. Investors were underwhelmed by earnings reports from toymaker Hasbro, clothing maker VF Corp., regional bank SunTrust and other companies. 

The overhang of the presidential election in two weeks didn't help. Investors are wary of making big moves before they know who's going to be the next president. 

"They need to know the playing field before they get out there and play," said Jeff Savage, regional chief investment officer for Wells Fargo Private Bank in Portland, Oregon. 

David Katz, principal and senior portfolio strategist at WeiserMazars Wealth Advisors in New York, said it matters more that the election is wrapped up than who is elected. 

"One could say the markets will rally stronger if the Republican candidate becomes president," Katz said. "But one way or another, the markets will have direction, and the markets like direction." 

The Dow Jones industrial average ended virtually flat. It inched up 2.38 points, or 0.02 percent, to close at 13,345.89. A late rise erased a 108-point deficit in the Dow. 

The Standard & Poor's 500 index was also little changed, edging up 0.62 point to 1,433.81. The Nasdaq composite index rose 11.34 to 3,016.96. 

Besides the election, an economic report due Friday also has the markets in a holding pattern. That's when the government is supposed to report how much the U.S. economy grew in the third quarter. But already, company reports are signaling that consumers, who drive the bulk of economic growth, are far from healed. 

Hasbro, the toymaker behind brands like My Little Pony and Transformers, said that sales for boys' products and preschool toys weakened. The stock slipped 66 cents to $38.39. 

Clothing maker VF Corp., whose brands include Timberland and Wrangler, missed analysts' revenue estimates. The stock slid $7.31, hitting $159.46. 

SunTrust Banks also slipped. Its third-quarter earnings jumped, but that was largely because the bank sold shares it owned in Coca-Cola. The Atlanta-based bank wrestled with higher expenses as well as low interest rates, which can crimp the profit banks make from lending out money. The stock lost 96 cents to $27.67. 

Shares rose for Caterpillar, the world's largest construction and mining equipment company, gained $1.22 to $85.08. But the company warned that it expects lower profit and revenue for the rest of the year. 

Last week, Microsoft, General Electric and McDonald's also reported third-quarter results that disappointed the market. 

To be fair, most companies are reporting better-than-expected profits. But investors want to know how companies are faring on revenue. Revenue can give a more accurate picture of how a company is performing, because profits can vary widely on items like accounting charges and cost-cutting. 

Katz described companies' third-quarter revenue results as "fair" and said the U.S. economy is "slow and steady." 

"It is at a snail's pace," he said. "But it's certainly better than what we had." 

Of the roughly 100 companies in the S&P 500 that had reported third-quarter results as of last week, 70 percent have beat analysts' estimates for profits, according to John Butters, senior earnings analyst at FactSet. But only 42 percent have beat estimates for revenue. That's the lowest since the first quarter of 2009, when the stock market hit its Great Recession lows. 

Company profits so far this quarter are down 2.3 percent compared to a year ago. Revenue is down an average of 0.6 percent. 

One stock that jumped was Ancestry.com, the genealogy website, which announced it will be bought by European private equity firms. The stock popped $2.26 to $31.44. The buyers had offered $32 per share. 

Apple also jumped, rising $24.19 to $634.03. The company is expected to release a new, smaller iPad on Tuesday, to compete with Amazon.com Inc.'s Kindle Fire and Google Inc.'s Nexus 7. 

In other trading, the yield on the 10-year Treasury note rose to 1.81 percent from 1.76 percent late Friday. The euro was worth $1.3045, up slightly from Friday. Energy prices fell. Crude oil lost $1.32 to $88.73 a barrel.


----------



## bigdog

Source: http://finance.yahoo.com 

Nobody was expecting this round of corporate earnings reports to be great. But companies' underwhelming results are still rattling investors. 

The Dow Jones industrial average plunged Tuesday to its lowest level in nearly seven weeks. Big-name companies reported weak quarterly revenue and lowered their forecasts for the rest of the year. 

The Dow sank as much as 262 points, or roughly 2 percent, before ending the day down 243.36 points to 13,102.53. The decline was the Dow's third-steepest this year. 

Other indexes also fell sharply. The Standard & Poor's 500 index shed 20.71 points to 1,413.11, and the Nasdaq composite index lost 26.50 points to 2,990.46. The Nasdaq hadn't closed below 3,000 since Aug. 6. 

On the New York Stock Exchange, for every stock that rose, roughly three fell. 

Companies of all stripes signaled that the economy is far from healed, and that demand is weaker than a year ago. Revenue fell compared with a year ago at DuPont, 3M, UPS and Xerox. 

Because of their global footprints and variety of products and services, those companies augur how the world economy is performing. 

Chemical maker DuPont said it will have to cut jobs and other expenses to make up for weak demand. 3M, which makes all manner of products including Scotch tape and coatings for LCD screens, cut its profit prediction for the year. 

UPS, the world's largest package-delivery company, warned that the pace of global growth remains uneven. And Xerox said the "challenging economy" is causing "cost pressures for large enterprises and governments." 

The rest of the year isn't looking great, either. Through Tuesday afternoon, 29 companies in the S&P 500 had updated predictions for fourth-quarter results, according to researchers at S&P Capital IQ. Of those, 23 lowered their forecasts, and six kept them roughly the same. None said they were expecting things to be better than they already predicted. 

And of 123 companies in the S&P 500 that had reported earnings as of Monday, only 38 percent beat expectations on revenue, according to John Butters, senior earnings analyst at FactSet, a provider of financial data. 

That's far below the average of the past four years, when the final percentage of companies that beat revenue estimates has been around 56 percent. It's also the lowest proportion since the first quarter of 2009, when the stock market hit its lowest point of the Great Recession. 

 *The NYSE DOW closed  	LOWER ▼	-243.36	points or ▼	-1.82%	Tuesday, 23 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,102.53	▼	-243.36	▼	-1.82%	
	Nasdaq____	2,990.46	▼	-26.50	▼	-0.88%	
	S&P_500__	1,413.11	▼	-20.71	▼	-1.44%	
	30_Yr_Bond	2.916	▼	-0.03	▼	-1.05%	

NYSE Volume	 3,562,305,750 			 		 	
Nasdaq Volume	 1,830,397,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,797.91	▼	-85.00	▼	-1.44%	
	DAX_____	7,173.69	▼	-154.36	▼	-2.11%	
	CAC_40__	3,406.50	▼	-76.75	▼	-2.20%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,568.00	▲	3.40	▲	0.07%	
	Shanghai_Comp	2,114.45	▼	-18.31	▼	-0.86%	
	Taiwan_Weight	7,337.48	▼	-35.56	▼	-0.48%	
	Nikkei_225____	9,014.25	▲	3.54	▲	0.04%	
	Hang_Seng____	21,697.55	▲	53.93	▲	0.68%	
	Strait_Times___	3,050.93	▲	5.26	▲	0.17%	
	NZX_50_Index__	4,004.26	▲	16.10	▲	0.40%	

http://finance.yahoo.com/news/stocks-sink-dupont-xerox-3m-204225919.html

*Stocks sink as DuPont, Xerox, 3M scare investors

Stocks sink as companies report weak revenue; one of the worst days on Wall Street this year*

By Christina Rexrode

Nobody was expecting this round of corporate earnings reports to be great. But companies' underwhelming results are still rattling investors. 

The Dow Jones industrial average plunged Tuesday to its lowest level in nearly seven weeks. Big-name companies reported weak quarterly revenue and lowered their forecasts for the rest of the year. 

The Dow sank as much as 262 points, or roughly 2 percent, before ending the day down 243.36 points to 13,102.53. The decline was the Dow's third-steepest this year. 

Other indexes also fell sharply. The Standard & Poor's 500 index shed 20.71 points to 1,413.11, and the Nasdaq composite index lost 26.50 points to 2,990.46. The Nasdaq hadn't closed below 3,000 since Aug. 6. 

On the New York Stock Exchange, for every stock that rose, roughly three fell. 

Companies of all stripes signaled that the economy is far from healed, and that demand is weaker than a year ago. Revenue fell compared with a year ago at DuPont, 3M, UPS and Xerox. 

Because of their global footprints and variety of products and services, those companies augur how the world economy is performing. 

Chemical maker DuPont said it will have to cut jobs and other expenses to make up for weak demand. 3M, which makes all manner of products including Scotch tape and coatings for LCD screens, cut its profit prediction for the year. 

UPS, the world's largest package-delivery company, warned that the pace of global growth remains uneven. And Xerox said the "challenging economy" is causing "cost pressures for large enterprises and governments." 

The rest of the year isn't looking great, either. Through Tuesday afternoon, 29 companies in the S&P 500 had updated predictions for fourth-quarter results, according to researchers at S&P Capital IQ. Of those, 23 lowered their forecasts, and six kept them roughly the same. None said they were expecting things to be better than they already predicted. 

And of 123 companies in the S&P 500 that had reported earnings as of Monday, only 38 percent beat expectations on revenue, according to John Butters, senior earnings analyst at FactSet, a provider of financial data. 

That's far below the average of the past four years, when the final percentage of companies that beat revenue estimates has been around 56 percent. It's also the lowest proportion since the first quarter of 2009, when the stock market hit its lowest point of the Great Recession. 

Companies have done better on earnings: 67 percent have beat expectations so far, Butters said. But investors at the moment are more interested in revenue. 

Tim Courtney, chief investment officer at Exencial Wealth Advisors in Oklahoma City, didn't think it was just the soft results driving the market's plunge Tuesday. Many analysts were already expecting lower earnings growth and revenue before companies started reporting results, so the weak results aren't a huge surprise. 

The earnings, Courtney said, are just a symptom of a bigger problem ”” a sputtering economy. 

"They're using (earnings) as an excuse, but it's the broader issues that are driving it," Courtney said. "What's going to happen with the election, what's going to happen with the fiscal cliff? Europe is already in recession ”” are we going to go, too? That fear is driving a lot of the selling right now." 

The so-called fiscal cliff is a combination of tax increases and government spending cuts that will take effect Jan. 1, and that could send the U.S. back into recession, unless Congress intervenes. 

DuPont, Xerox and 3M were among the worst-performing stocks in the S&P 500 on Tuesday. DuPont slid $4.51 to $45.25. Xerox lost 36 cents to $6.67. 3M slipped $3.80 to $88.73. The exception was UPS, which rose $2.17 to $73.73. 

Some of the disappointing revenue is because of weakness in foreign markets. Multinational companies are having a hard time selling to Europe, which has been hobbled by recession, and emerging markets like China and India, where growth is slowing. Businesses that had relied on growth there to offset weak U.S. consumer demand are being forced to come up with new strategies. 

"The recession in Europe is very real," said Bernard Schoenfeld, senior investment strategist for Bank of New York Mellon Wealth Management in New York. "It's not going to disappear very quickly, and it will certainly negatively affect earnings of exporters in the United States." 

Companies are also blaming some of the revenue declines on the stronger dollar. As the dollar gains value, as it has over the past year, the money that multinational companies make overseas translates into fewer dollars back at headquarters. 

"They're feeling the pain of the stronger dollar," said Kathy Lien, managing director at BK Asset Management in New York. "Companies try to hedge, but they don't always hedge perfectly." 

This earnings season alone, Google, Philip Morris, IBM and Coca-Cola Bottling Co. have complained that the stronger dollar has hurt revenue, Lien noted. 

The price of crude oil fell to a three-month low, another sign that investors expect a weak economy. The yield on the benchmark 10-year U.S. Treasury note sank to 1.76 percent late in the day, from 1.82 percent Monday, as nervous investors sold stocks and shifted money into low-risk U.S. government bonds. 

Among other stocks making moves Tuesday: 

”” Luxury handbag maker Coach was a bright spot, reporting higher revenue for the latest quarter. It jumped $3.98 to $58.15, one of the best performers in the whole market. 

”” Apple fell $20.67 to $613.36, more than 3 percent, after it released a smaller version of its iPad. It is meant to help Apple compete with Amazon's Kindle Fire and Google's Nexus 7, but Apple priced its tablet higher than the others, which could crimp sales. 

Apple has the most sway on the S&P 500 and the Nasdaq composite, so a poor day for Apple's stock can heavily impact both indexes.


----------



## bigdog

Source: http://finance.yahoo.com 

The steep losses finally stopped Wednesday as the stock market turned calm, a day after one of its biggest sell-offs of the year. Indexes ended with slight losses after the Federal Reserve said the U.S. economy still needs support. 

The Dow Jones industrial average closed down 25.19 points at 13,077.34, a day after one of its worst drops this year. 

The Standard & Poor's 500 index fell 4.36 points to close at 1,408.75 while the Nasdaq composite index fell 8.76 points to 2,991.70. 

"Today we're assessing the damage," said Mark Luschini, chief investment strategist at Janney Montgomery Scott. "Everybody just got clobbered yesterday." 

Lower corporate revenue and expectations for the rest of the year drove the Dow down 243 points Tuesday, its third-biggest drop this year. DuPont, 3M, UPS and Xerox all reported lower sales than a year ago. 

"It seemed out of the blue, but what we were seeing was stock prices adjusting to corporate profitability," Luschini said. 

The market flitted between small gains and losses for much of the day. Indexes started to fade after 2 p.m., after the Fed repeated its assessment that the U.S. economic recovery remains modest at best. 

At the end of its latest two-day meeting, the Fed said the economy is still expanding at just a "moderate pace" and that it needs time to see whether a new bond-buying effort launched in September will spur economic growth and new hiring. 

The latest batch of earnings reports wasn't as dire, and there was the occasional piece of encouraging news. 

Facebook had its best day since its stock market debut in May. The company said late Tuesday that 14 percent of its advertising revenue came from mobile devices, allaying some investor concerns. 

 *The NYSE DOW closed  	LOWER ▼	-25.19	points or ▼	-0.19%	Wednesday, 24 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,077.34	▼	-25.19	▼	-0.19%	
	Nasdaq____	2,981.70	▼	-8.76	▼	-0.29%	
	S&P_500__	1,408.75	▼	-4.36	▼	-0.31%	
	30_Yr_Bond	2.930	▲	0.02	▲	0.58%	

NYSE Volume	 3,346,045,750 			 		 	
Nasdaq Volume	 1,965,715,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,804.78	▲	6.87	▲	0.12%	
	DAX_____	7,192.85	▲	19.16	▲	0.27%	
	CAC_40__	3,426.49	▲	19.99	▲	0.59%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,530.60	▼	-37.40	▼	-0.82%	
	Shanghai_Comp	2,115.99	▲	1.54	▲	0.07%	
	Taiwan_Weight	7,314.88	▼	-22.60	▼	-0.31%	
	Nikkei_225____	8,954.30	▼	-59.95	▼	-0.67%	
	Hang_Seng____	21,763.78	▲	53.93	▲	0.31%	
	Strait_Times___	3,050.19	▼	-0.74	▼	-0.02%	
	NZX_50_Index__	4,001.45	▼	-2.81	▼	-7.00%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks stabilize on Wall Street after a sell-off

Stock market gives up modest gains to end lower; Netflix plunges on weaker subscriber forecast*

By Matthew Craft

The steep losses finally stopped Wednesday as the stock market turned calm, a day after one of its biggest sell-offs of the year. Indexes ended with slight losses after the Federal Reserve said the U.S. economy still needs support. 

The Dow Jones industrial average closed down 25.19 points at 13,077.34, a day after one of its worst drops this year. 

The Standard & Poor's 500 index fell 4.36 points to close at 1,408.75 while the Nasdaq composite index fell 8.76 points to 2,991.70. 

"Today we're assessing the damage," said Mark Luschini, chief investment strategist at Janney Montgomery Scott. "Everybody just got clobbered yesterday." 

Lower corporate revenue and expectations for the rest of the year drove the Dow down 243 points Tuesday, its third-biggest drop this year. DuPont, 3M, UPS and Xerox all reported lower sales than a year ago. 

"It seemed out of the blue, but what we were seeing was stock prices adjusting to corporate profitability," Luschini said. 

The market flitted between small gains and losses for much of the day. Indexes started to fade after 2 p.m., after the Fed repeated its assessment that the U.S. economic recovery remains modest at best. 

At the end of its latest two-day meeting, the Fed said the economy is still expanding at just a "moderate pace" and that it needs time to see whether a new bond-buying effort launched in September will spur economic growth and new hiring. 

The latest batch of earnings reports wasn't as dire, and there was the occasional piece of encouraging news. 

Facebook had its best day since its stock market debut in May. The company said late Tuesday that 14 percent of its advertising revenue came from mobile devices, allaying some investor concerns. 

The social network's stock soared $3.73 to $23.23, a jump of 19 percent. Facebook has swung widely since its IPO at $38, and has traded as low as $17.55. 

AT&T, which is part of the Dow average, said it added the fewest wireless customers since 2003, far behind Verizon Wireless. AT&T's results still managed to beat the estimates of financial analysts. AT&T slid 29 cents to $34.71. 

A measure of manufacturing in China, the world's second-largest economy after the United States, improved this month to a three-month high. China's white-hot economic growth has been slowing. 

Homebuilder stocks gained after the Commerce Department reported that sales of new homes jumped last month to the highest level in more than two years. Toll Brothers rose 70 cents to $35.25 and D.R. Horton rose 32 cents to $21.41. 

A drop in profits for Norfolk Southern hit other railroad stocks. Norfolk Southern reported a 27 percent slump in quarterly earnings late Tuesday, as falling coal prices led to lower revenue. Many utilities have favored using cheap natural gas instead of burning coal this year, pushing down coal prices and weighing on railroad operators. 

Norfolk Southern fell $4.92 to $61.09. Union Pacific lost $2.35 to $120.87. 

Prices for U.S. government bonds inched lower, sending yields up. The yield on the benchmark 10-year Treasury note edged up to 1.79 percent from 1.76 percent late Tuesday. 

Among other stocks in the news: 

”” Netflix dropped $8.10, or 12 percent, to $60.12. Late Tuesday, it slashed its prediction for how many U.S. video-streaming subscribers it would add this year to 4.7 million to 5 million. It had predicted it would add as many as 7 million. 

”” Dow Chemical rose $1.33 to $29.88. The company announced a wide-ranging restructuring plan late Tuesday that includes cutting 2,400 jobs and closing 20 manufacturing facilities. The company cited slowing economic growth in Europe and elsewhere. 

”” Tempur-Pedic International sank 20 percent after the maker of memory-foam mattresses reported revenue that was well below the estimates of Wall Street analysts. The company also cut its estimates for full-year profits and revenue. Its stock plunged $6.21 to $25.66.


----------



## bigdog

Source: http://finance.yahoo.com 

A weak showing in home sales and a mixed batch of earnings reports kept stocks flipping between minor gains and losses on Wall Street. By the end of the day, the major indexes managed to eke out their second day of gains this week. 

A strong profit report from Procter & Gamble helped indexes start higher early Thursday, but stocks weakened in late morning trading after a realtor group said that the pace of contracts for new home sales had leveled off. 

The Dow Jones industrial average gained 26.34 points to close at 13,103.68. 

"This is a market still working through a difficult earnings season," said Jason Pride, the director of investment strategy for Glenmede, a wealth-management firm. 

Pride said investors probably celebrated too much after the Federal Reserve pledged more support for the economy in early September. They overlooked shrinking economies in Europe, slower growth in China and other signs that this earnings season would be rough. In the past two weeks, they've paid for it. 

"We had a party and now we're dealing with a hangover," he said. "The market is basically back to where it was at the end of August. I don't think that's unreasonable." 

In other trading, the Standard & Poor's 500 rose 4.22 points to 1,412.97 and the Nasdaq gained 4.42 points to 2,986.12. 

A recent round of weak corporate earnings from tech giants and industrial companies has shaken investors accustomed to steadily rising profits. Weak revenue numbers and lowered profit projections from Caterpillar, 3M and Google have rattled the stock market. 

After two days in which the Dow has dropped more than 200 points in the past week, the average of 30 big companies is now down 2.5 percent for October. 

 *The NYSE DOW closed  	HIGHER ▲	26.34	points or ▲	0.20%	Thursday, 25 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,103.68	▲	26.34	▲	0.20%	
	Nasdaq____	2,986.12	▲	4.42	▲	0.15%	
	S&P_500__	1,412.97	▲	4.22	▲	0.30%	
	30_Yr_Bond	2.980	▲	0.05	▲	1.64%	

NYSE Volume	 3,447,358,500 			 		 	
Nasdaq Volume	 1,958,885,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,805.05	▲	0.27	▲	0.00%	
	DAX_____	7,200.23	▲	7.38	▲	0.10%	
	CAC_40__	3,411.53	▼	-14.96	▼	-0.44%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,533.50	▲	2.90	▲	0.06%	
	Shanghai_Comp	2,101.58	▼	-14.41	▼	-0.68%	
	Taiwan_Weight	7,262.08	▼	-52.80	▼	-0.72%	
	Nikkei_225____	9,055.20	▲	100.90	▲	1.13%	
	Hang_Seng____	21,810.23	▲	53.93	▲	0.21%	
	Strait_Times___	3,057.51	▲	12.78	▲	0.42%	
	NZX_50_Index__	3,990.49	▼	-10.96	▼	-0.27%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks edge higher, breaking a weeklong slump

Dow, S&P manage meager gains, breaking weeklong slump caused by discouraging earnings reports*

By Matthew Craft	

A weak showing in home sales and a mixed batch of earnings reports kept stocks flipping between minor gains and losses on Wall Street. By the end of the day, the major indexes managed to eke out their second day of gains this week. 

A strong profit report from Procter & Gamble helped indexes start higher early Thursday, but stocks weakened in late morning trading after a realtor group said that the pace of contracts for new home sales had leveled off. 

The Dow Jones industrial average gained 26.34 points to close at 13,103.68. 

"This is a market still working through a difficult earnings season," said Jason Pride, the director of investment strategy for Glenmede, a wealth-management firm. 

Pride said investors probably celebrated too much after the Federal Reserve pledged more support for the economy in early September. They overlooked shrinking economies in Europe, slower growth in China and other signs that this earnings season would be rough. In the past two weeks, they've paid for it. 

"We had a party and now we're dealing with a hangover," he said. "The market is basically back to where it was at the end of August. I don't think that's unreasonable." 

In other trading, the Standard & Poor's 500 rose 4.22 points to 1,412.97 and the Nasdaq gained 4.42 points to 2,986.12. 

A recent round of weak corporate earnings from tech giants and industrial companies has shaken investors accustomed to steadily rising profits. Weak revenue numbers and lowered profit projections from Caterpillar, 3M and Google have rattled the stock market. 

After two days in which the Dow has dropped more than 200 points in the past week, the average of 30 big companies is now down 2.5 percent for October. 

Among companies reporting earnings Thursday, infant formula maker Mead Johnson Nutrition plunged 9 percent after its revenue came in well below what Wall Street analysts had expected. The company also cut its forecast for full-year earnings. Its stock slumped $5.98 to $63.53. 

Profits at United Airlines slid with fewer people flying, and the company's results fell short of Wall Street's forecasts. Its stock lost $1.01 to $19.26. 

Most homebuilders fell after the pace of growth in housing sales slowed last month. PulteGroup fell 44 cents to $17.01. Toll Brothers dropped $1.04 to $34.21. 

Procter & Gamble posted the strongest gains of any Dow stock, after the consumer products company, whose products include Tide, Gillette and Charmin, posted earnings that beat analysts' estimates. P&G rose $1.99 to $70.07. 

Online game maker Zynga jumped 26 cents to $2.39 after the company reported revenue that was stronger than analysts had anticipated. The company also said it would cut costs and enter the gambling business. 

Health insurer Aetna rose 48 cents to $44.43 after reporting a slight gain in third-quarter earnings. Higher revenue and lower-than-expected health care claims helped the company beat Wall Street's profit expectations. 

Traders sold U.S. government bonds, sending yields higher. The benchmark 10-year U.S. Treasury note yielded 1.82 percent, up from 1.79 percent late Wednesday.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks closed mostly lower Friday after investors found little to like in weak corporate earnings reports and news of only tepid growth in the U.S. economy in the third quarter. 

The Dow Jones industrial average managed a gain of 3.53 points to close at 13,107.21 after spending much of the day in the red. 

The Standard & Poor's 500 index fell 1.03 points to 1,411.94 and the Nasdaq composite rose 1.83 points to 2,987.95. 

Stocks rose in the morning before a mild midday sell-off, then recovered somewhat in the afternoon. 

The morning gains came after the Commerce Department estimated that the U.S. economy expanded at a 2 percent annual rate from July through September. That was better than the previous quarter, and better than analysts expected, but not strong enough to bring down the unemployment rate. 

Even economic data that is mixed or positive won't outweigh weak earnings, said Lawrence Creatura, a portfolio manager with Federated Investors. Reports like the one on Friday that measure gross domestic product tend to be backwards-looking, while companies are offering forecasts about the months ahead, he said. 

"Company earnings trump macro data. Because investors own Apple, they don't own GDP," Creatura said. 

Apple fell $5.54 to $604 after saying its profit will decline this holiday season. 

Even with Friday's rise, stocks lost ground this week, inflecting a sort of death-by-a-thousand-cuts on the rally that began in September. The Dow was down 236.30 points for the week, or 1.8 percent. The S&P has fallen 21.25 points, or 1.5 percent. 

 *The NYSE DOW closed  	HIGHER ▲	3.53	points or ▲	0.03%	Friday, 26 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,107.21	▲	3.53	▲	0.03%	
	Nasdaq____	2,987.95	▲	1.83	▲	0.06%	
	S&P_500__	1,411.94	▼	-1.03	▼	-0.07%	
	30_Yr_Bond	2.918	▼	-0.06	▼	-2.11%	

NYSE Volume	 3,232,358,000 			 		 	
Nasdaq Volume	 1,840,589,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,806.71	▲	1.66	▲	0.03%	
	DAX_____	7,231.85	▲	31.62	▲	0.44%	
	CAC_40__	3,435.09	▲	23.56	▲	0.69%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,496.30	▼	-37.20	▼	-0.82%	
	Shanghai_Comp	2,066.21	▼	-35.37	▼	-1.68%	
	Taiwan_Weight	7,134.06	▼	-128.02	▼	-1.76%	
	Nikkei_225____	8,933.06	▼	-122.14	▼	-1.35%	
	Hang_Seng____	21,545.57	▲	53.93	▼	-1.21%	
	Strait_Times___	3,057.51	▲	12.78	▲	0.42%	
	NZX_50_Index__	3,983.78	▼	-6.71	▼	-0.17%	

http://finance.yahoo.com/news/weak-...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Weak earnings reports weigh on stocks

Stocks struggle after latest batch of mixed earnings reports; Goodyear Tire, others disappoint*

By Joshua Freed

Stocks closed mostly lower Friday after investors found little to like in weak corporate earnings reports and news of only tepid growth in the U.S. economy in the third quarter. 

The Dow Jones industrial average managed a gain of 3.53 points to close at 13,107.21 after spending much of the day in the red. 

The Standard & Poor's 500 index fell 1.03 points to 1,411.94 and the Nasdaq composite rose 1.83 points to 2,987.95. 

Stocks rose in the morning before a mild midday sell-off, then recovered somewhat in the afternoon. 

The morning gains came after the Commerce Department estimated that the U.S. economy expanded at a 2 percent annual rate from July through September. That was better than the previous quarter, and better than analysts expected, but not strong enough to bring down the unemployment rate. 

Even economic data that is mixed or positive won't outweigh weak earnings, said Lawrence Creatura, a portfolio manager with Federated Investors. Reports like the one on Friday that measure gross domestic product tend to be backwards-looking, while companies are offering forecasts about the months ahead, he said. 

"Company earnings trump macro data. Because investors own Apple, they don't own GDP," Creatura said. 

Apple fell $5.54 to $604 after saying its profit will decline this holiday season. 

Even with Friday's rise, stocks lost ground this week, inflecting a sort of death-by-a-thousand-cuts on the rally that began in September. The Dow was down 236.30 points for the week, or 1.8 percent. The S&P has fallen 21.25 points, or 1.5 percent. 

Goodyear Tire & Rubber sank 10 percent after a steep dropoff in sales in Europe delivered a blow to its earnings. The stock fell $1.28 to $11.02. 

The advertising conglomerate Interpublic also turned in results that fell short of analysts' forecasts, and its stock fell 2.5 percent, or 26 cents, to $10.29. 

Amazon rose $15.32, or 7 percent, to $238.24 despite a smaller-than-expected quarterly profit and a prediction for smaller-than-expected holiday revenue. 

Among other companies making big moves, cable TV provider Comcast jumped $1.20, or 3.3 percent, to $37.56 after reporting that its income more than doubled in the latest quarter. Revenue was higher than analysts were expecting, and more customers signed up for premium services like high-definition video recorders. 

Varian Medical Systems jumped $8.83, or 15 percent, to $66.93, the biggest increase in the S&P 500 index. The company, which sells medical imaging equipment and radiation-emitting devices for treating tumors, reported a 20 percent rise in income because of higher sales of devices. 

On its first day of trading, dairy company WhiteWave Foods lost 25 cents to $16.75, down from its initial public offering price of $17, after rising as high as $19.17 earlier. 

The yield on the 10-year Treasury note fell to 1.75 percent from 1.82 percent on Thursday

3931


----------



## bigdog

Source: http://finance.yahoo.com 

Stock trading will be closed in the U.S. for a second day Tuesday as Hurricane Sandy bears down on the East Coast. Bond trading will also be closed. 

The last time the New York Stock Exchange was closed for weather was in 1985 because of Hurricane Gloria, and it will be the first time since 1888 that the exchange will have been closed for two consecutive days because of weather. The cause then was a blizzard that left drifts as high as 40 feet in the streets of New York City. 

The New York Stock Exchange and Nasdaq said they intend to reopen on Wednesday and would keep investors updated. 

Much of the East Coast was at a standstill Monday as the storm approached. Mass transit and schools were closed across the region ahead of the storm hitting land, which was expected to happen later Monday. 

Areas around New York's Financial District were part of a mandatory evacuation zone. The storm surge is already pushing water over seawalls in the southern tip of Manhattan. 

CME Group's New York trading floor was closed, but electronic markets were functioning. Crude oil fell 80 cents to $85.48 in electronic trading. 

CME hasn't made any announcements about trading on its markets for Tuesday. CME owns exchanges that trade commodities, futures, options and securities related to interest rates. 

Bond trading will also be closed Tuesday. The Securities Industry and Financial Markets Association called for an early close to bond trading Monday, at 12 noon. The yield on the benchmark 10-year Treasury note was 1.72 percent, compared with 1.75 percent late Friday. 

European stock markets fell. France's CAC-40 fell 0.8 percent, Britain's FTSE fell 0.2 percent and Germany's DAX lost 0.4 percent. Insurers such as Munich Re, Aviva PLC and Zurich Insurance fared worse than other stocks as investors worried about the potential cost of the storm's damage. 

 *Stock trading will be closed in the U.S. for a second day Tuesday as Hurricane Sandy bears down on the East Coast. Bond trading will also be closed.  The NYSE DOW last closed  on Friday, 26 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,107.21	▲	3.53	▲	0.03%	
	Nasdaq____	2,987.95	▲	1.83	▲	0.06%	
	S&P_500__	1,411.94	▼	-1.03	▼	-0.07%	
	30_Yr_Bond	2.918	▼	-0.06	▼	-2.11%	

NYSE Volume	 0 			 		 	
Nasdaq Volume	 0 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,795.10	▼	-11.61	▼	-0.20%	
	DAX_____	7,203.16	▼	-28.69	▼	-0.40%	
	CAC_40__	3,408.89	▼	-26.20	▼	-0.76%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,499.40	▲	3.10	▲	0.07%	
	Shanghai_Comp	2,058.94	▼	-7.27	▼	-0.35%	
	Taiwan_Weight	7,091.67	▼	-42.39	▼	-0.59%	
	Nikkei_225____	8,929.34	▼	-3.72	▼	-0.04%	
	Hang_Seng____	21,511.05	▲	53.93	▼	-0.16%	
	Strait_Times___	3,029.61	▼	-27.90	▼	-0.91%	
	NZX_50_Index__	3,951.30	▼	-32.48	▼	-0.82%	

http://finance.yahoo.com/news/storm...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Storm will keep financial markets closed Tuesday

New York Stock Exchange, other markets will remain closed Tuesday due to Hurricane Sandy* 

Stock trading will be closed in the U.S. for a second day Tuesday as Hurricane Sandy bears down on the East Coast. Bond trading will also be closed. 

The last time the New York Stock Exchange was closed for weather was in 1985 because of Hurricane Gloria, and it will be the first time since 1888 that the exchange will have been closed for two consecutive days because of weather. The cause then was a blizzard that left drifts as high as 40 feet in the streets of New York City. 

The New York Stock Exchange and Nasdaq said they intend to reopen on Wednesday and would keep investors updated. 

Much of the East Coast was at a standstill Monday as the storm approached. Mass transit and schools were closed across the region ahead of the storm hitting land, which was expected to happen later Monday. 

Areas around New York's Financial District were part of a mandatory evacuation zone. The storm surge is already pushing water over seawalls in the southern tip of Manhattan. 

CME Group's New York trading floor was closed, but electronic markets were functioning. Crude oil fell 80 cents to $85.48 in electronic trading. 

CME hasn't made any announcements about trading on its markets for Tuesday. CME owns exchanges that trade commodities, futures, options and securities related to interest rates. 

Bond trading will also be closed Tuesday. The Securities Industry and Financial Markets Association called for an early close to bond trading Monday, at 12 noon. The yield on the benchmark 10-year Treasury note was 1.72 percent, compared with 1.75 percent late Friday. 

European stock markets fell. France's CAC-40 fell 0.8 percent, Britain's FTSE fell 0.2 percent and Germany's DAX lost 0.4 percent. Insurers such as Munich Re, Aviva PLC and Zurich Insurance fared worse than other stocks as investors worried about the potential cost of the storm's damage. 

"The economic impact cannot be underestimated," said Elsa Lignos, an analyst at RBC Capital Markets. 

The uncertainty generated by the storm comes at the start of a big week in the United States. This is the last full week before next Tuesday's presidential election and culminates Friday with the release of monthly jobs data, which many analysts think could have an impact on the vote. 

"A significant swing in either direction is likely to be heavily reported in the media, potentially swinging the undecided voter," said James Hughes, chief market analyst at Alpari, of the jobs figures. 

Some companies are postponing quarterly earnings reports scheduled for release early this week. So far, that includes Pfizer Inc. and Thomson Reuters. Burger King reported on schedule, and said its third-quarter net income fell 83 percent as revenue was hurt by the stronger dollar. Adjusted results topped expectations, however. 

Even with many markets shut down, there was some encouraging news about the U.S. economy Monday. The Commerce Department reported that consumer spending increased 0.8 percent in September. That followed a 0.5 percent gain in August and was the best showing since February. 

Personal income rose 0.4 percent, an improvement from a slight 0.1 percent gain in August and the best gain since March. It's a closely watched indicator as consumer spending drives about 70 percent of the nation's economic activity.


----------



## bigdog

Source: http://finance.yahoo.com 

 *New York Stock Exchange will reopen Wednesday after 2-day shutdown because of Hurricane Sandy

Stock trading was closed in the U.S. for a second day Tuesday as Hurricane Sandy bears down on the East Coast. Bond trading was also closed. 

The NYSE DOW last closed on Friday, 26 October 2012 	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,107.21	▲	3.53	▲	0.03%	
	Nasdaq____	2,987.95	▲	1.83	▲	0.06%	
	S&P_500__	1,411.94	▼	-1.03	▼	-0.07%	
	30_Yr_Bond	2.918	▼	-0.06	▼	-2.11%	

NYSE Volume	 0			 		 	
Nasdaq Volume	 0 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,849.90	▲	54.80	▲	0.95%	
	DAX_____	7,284.40	▲	81.24	▲	1.13%	
	CAC_40__	3,459.44	▲	50.55	▲	1.48%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,505.70	▲	6.30	▲	0.14%	
	Shanghai_Comp	2,062.35	▲	3.40	▲	0.17%	
	Taiwan_Weight	7,182.59	▲	90.92	▲	1.28%	
	Nikkei_225____	8,841.98	▼	-87.36	▼	-0.98%	
	Hang_Seng____	21,428.58	▲	53.93	▼	-0.38%	
	Strait_Times___	3,038.73	▲	9.12	▲	0.30%	
	NZX_50_Index__	3,941.28	▼	-10.01	▼	-0.25%	

http://finance.yahoo.com/news/york-...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

New York Stock Exchange will reopen Wednesday

New York Stock Exchange will reopen Wednesday after 2-day shutdown because of Hurricane Sandy

The New York Stock Exchange will reopen for regular trading Wednesday after being shut down for two days because of Hurricane Sandy. 

The exchange said in a statement Tuesday that its building and trading floor are fully operational and that normal trading will resume at the usual starting time of 9:30 a.m. 

There had been erroneous reports Monday that the exchange floor had flooded. Exchange spokesman Ray Pellecchia said the exchange's building did not have any flooding or damage. 

Tuesday marks the first time since 1888 that the NYSE remained closed for two consecutive days because of weather. The earlier shutdown was caused by a massive snow storm. 

Sections of Manhattan were inundated with water Tuesday and power was shut off to millions of people and businesses up and down the East Coast. 

Dozens of companies have postponed earnings reports this week because of the storm, but Ford Motor Co. did release results for the third quarter that topped Wall Street expectations. 

Ford's revenue fell 3 percent to $32.1 billion because of the economic crisis in Europe and falling sales in South America. The company exceeded Wall Street's revenue forecast of $31.5 billion largely because of North America, where revenue jumped 8 percent. 

European stock markets rose broadly Tuesday after falling the day before. Trading was subdued in the wake of the storm. Britain's FTSE 100 index rose 0.9 percent, Germany's DAX rose 1.1 percent and the CAC-40 in France was 1.5 percent higher. 

Crude oil rose 14 cents to settle at $85.68 in electronic trading on the New York Mercantile Exchange. 

U.S. bond trading was closed Tuesday. 

Electronic trading for U.S. stock index futures was open, but trading volume was very light and the price moves were minuscule. 

As of the regular close of trading at 9:15 a.m., Dow Jones industrial average futures rose 8 points to 13,062. S&P 500 futures added 3.50 points to 1,411.10. Nasdaq futures slipped 3.75 points to 2,655.25. 

On Monday, when regular U.S. stock trading was also closed, stock index futures fell slightly


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks closed mixed on Wednesday in their first session since Hurricane Sandy forced an historic two-day shutdown of trading. 

The Dow Jones industrial average slipped 10.75 points to 13,096.46. The Standard & Poor's 500 index rose, but barely ”” up 0.22 of a point to 1,412.16. 

Investors were nervous that a flood of orders after two days of pent-up demand from customers might lead to volatile trading. But stock prices barely budged at the opening, and stayed within a tight range throughout the day. 

"It's been very smooth," Duncan Niederauer, CEO of NYSE Euronext, told CNBC from the exchange floor shortly after the opening bell. "The market-making community is more than staffed enough to be open." 

The last time the New York Stock Exchange closed for two consecutive days because of weather was during the Blizzard of 1888 ”” 124 years ago. Since power was out in large parts of downtown Manhattan on Wednesday, the trading floor had to be run on backup generators. 

Home Depot and Lowe's rose as investors anticipated more business for the home improvement chains as people made repairs in the aftermath of the devastating storm. Home Depot gained $1.34 to $61.38 and Lowe's rose $1.02 to $32.38. 

Netflix soared $9.66 to $79.24 after financier Carl Icahn said he had bought a 10 percent stake in the troubled company. 

Among the losers were insurers Chubb, Allstate and Travelers. Investors worried that the companies are most likely to suffer losses due to insurance claims. The trio have a large share of the insurance market in areas where Hurricane Sandy hit. 

Chubb fell 98 cents to $76.98, Travelers dropped 62 cents to $70.94 and Allstate slipped 17 cents to $39.98. 

Half of the ten industry sectors in the S&P 500 fell. Health-care stocks were down 0.7 percent, the biggest drop. Utility stocks led the gainers with a rise of 0.8 percent. 

Stocks flitted between small gains and losses in the last hour of trading. The indexes started the day higher than the close on Friday, the last trading day. Then they dropped, and stayed in the red for much of the day. 

The tech-heavy Nasdaq composite lost 10.72 points to 2,977.23. 

The opening followed days of scrambling by NYSE officials to make sure power, telecom connections and computers would be ready. Many workers on the floor use the subways to get downtown, but Hurricane Sandy left the system with its worst damage in its 108-year history. New York's governor, Andrew Cuomo, said says limited subway service will resume in New York City on Thursday. 

 *The NYSE DOW closed  	LOWER ▼	-10.75	points or ▼	-0.08%	Wednesday, 31 October 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,096.46	▼	-10.75	▼	-0.08%	
	Nasdaq______	2,977.23	▼	-10.72	▼	-0.36%	
	S&P_500____	1,412.16	▲	0.22	▲	0.02%	
	30_Yr_Bond___	2.851	▼	-0.07	▼	-2.30%	

NYSE Volume	 3,542,963,500 			 		 	
Nasdaq Volume	 1,806,794,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,782.70	▼	-67.20	▼	-1.15%	
	DAX_____	7,260.63	▼	-23.77	▼	-0.33%	
	CAC_40__	3,429.27	▼	-30.17	▼	-0.87%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,535.40	▲	29.70	▲	0.66%	
	Shanghai_Comp	2,068.88	▲	6.53	▲	0.32%	
	Taiwan_Weight	7,166.05	▼	-16.54	▼	-0.23%	
	Nikkei_225____	8,928.29	▲	86.31	▲	0.98%	
	Hang_Seng____	21,641.82	▲	53.93	▲	1.00%	
	Strait_Times___	3,038.37	▼	-0.36	▼	-0.01%	
	NZX_50_Index__	3,957.88	▲	16.59	▲	0.42%	

http://finance.yahoo.com/news/us-st...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

US stocks mixed after historic 2-day close
US stocks end mixed on Wall Street after historic 2-day shutdown due to Superstorm Sandy
By Bernard Condon,

Stocks closed mixed on Wednesday in their first session since Hurricane Sandy forced an historic two-day shutdown of trading. 

The Dow Jones industrial average slipped 10.75 points to 13,096.46. The Standard & Poor's 500 index rose, but barely ”” up 0.22 of a point to 1,412.16. 

Investors were nervous that a flood of orders after two days of pent-up demand from customers might lead to volatile trading. But stock prices barely budged at the opening, and stayed within a tight range throughout the day. 

"It's been very smooth," Duncan Niederauer, CEO of NYSE Euronext, told CNBC from the exchange floor shortly after the opening bell. "The market-making community is more than staffed enough to be open." 

The last time the New York Stock Exchange closed for two consecutive days because of weather was during the Blizzard of 1888 ”” 124 years ago. Since power was out in large parts of downtown Manhattan on Wednesday, the trading floor had to be run on backup generators. 

Home Depot and Lowe's rose as investors anticipated more business for the home improvement chains as people made repairs in the aftermath of the devastating storm. Home Depot gained $1.34 to $61.38 and Lowe's rose $1.02 to $32.38. 

Netflix soared $9.66 to $79.24 after financier Carl Icahn said he had bought a 10 percent stake in the troubled company. 

Among the losers were insurers Chubb, Allstate and Travelers. Investors worried that the companies are most likely to suffer losses due to insurance claims. The trio have a large share of the insurance market in areas where Hurricane Sandy hit. 

Chubb fell 98 cents to $76.98, Travelers dropped 62 cents to $70.94 and Allstate slipped 17 cents to $39.98. 

Half of the ten industry sectors in the S&P 500 fell. Health-care stocks were down 0.7 percent, the biggest drop. Utility stocks led the gainers with a rise of 0.8 percent. 

Stocks flitted between small gains and losses in the last hour of trading. The indexes started the day higher than the close on Friday, the last trading day. Then they dropped, and stayed in the red for much of the day. 

The tech-heavy Nasdaq composite lost 10.72 points to 2,977.23. 

The opening followed days of scrambling by NYSE officials to make sure power, telecom connections and computers would be ready. Many workers on the floor use the subways to get downtown, but Hurricane Sandy left the system with its worst damage in its 108-year history. New York's governor, Andrew Cuomo, said says limited subway service will resume in New York City on Thursday. 

About three stocks rose for every one that fell on the New York Stock Exchange. Trading volume was 3.4 billion shares, in line with the recent average. 

The yield on the 10-year Treasury note fell to 1.69 percent from 1.72 percent at midday Monday. Bond trading was closed Tuesday and ended early Monday because of the storm. 

Among other stocks making big moves: 

””Facebook fell 83 cents to $21.11, a loss of nearly 4 percent. Facebook employees became eligible this week to sell restricted stock for the first time. Up to 1.5 billion more shares could be sold, about 3.5 times the 421 million shares that had been trading since Facebook's initial public offering in May. 

”” General Motors jumped $2.22 to $25.50 after the company reported a turnaround in its South American business and gave a brighter outlook for sales in Europe. GM posted better-than-expected results internationally outside of China 

”” Apple fell $8.68 to $595.32. The Wall Street Journal reported that the head of Apple's iPhone software development was asked to resign after he refused to sign a letter apologizing for the flaws of Apple's mapping application.


----------



## bigdog

Source: http://finance.yahoo.com 

It's only been a day, but November on Wall Street is already looking a lot better than October. 

Strong economic data and corporate news converged Thursday to give U.S. stocks their best day since mid-September. Positive signs about the job market and soaring sales figures pushed stock futures up before the market opened. A half-hour into trading, reports on manufacturing and consumer confidence added another log to the fire. 

The Dow Jones industrial average had already risen 100 points when the mid-morning reports came out. The data ”” including news that manufacturing grew for the second straight month ”” pushed it up as much as 177 points. It fell back some, but held a steady gain for the rest of the day. 

The Dow closed up 136.16 points, or 1 percent, to close at 13,232.62. It was the best day for the Dow since Sept. 13. 

The Standard & Poor's 500 index rose 15.43 points, or 1.1 percent, to 1,427.59. The Nasdaq composite index added 42.83, or 1.4 percent, to 3,020.06. 

All three indexes fell in October, their first monthly losses since May. 

The 10 a.m. surge came after the Institute for Supply Management said factories are seeing more new orders and increased production. The index has shown growth for the first two months of this quarter, an encouraging sign about the health of corporate America. Before that, manufacturing had decreased for three straight months. 

The Conference Board said Americans' confidence in the economy surged last month to the highest level in nearly five years. Many were encouraged by an improving job market, the group said. 

Traders watch manufacturing and consumer confidence because factories and consumers are crucial players in the economic recovery. Manufacturing lifted America out of recession, and the resurgent car industry has supported the economy during recent periods of weakness. Consumers, meanwhile, account for about 70 percent of economic activity. If they're not happy enough to spend, no one else has the buying power to take up the slack. 

 *The NYSE DOW closed  	HIGHER ▲	136.16	points or ▲	1.04%	Thursday, 1 November 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,232.62	▲	136.16	▲	1.04%	
	Nasdaq____	3,020.06	▲	42.83	▲	1.44%	
	S&P_500____	1,427.59	▲	15.43	▲	1.09%	
	30_Yr_Bond____	2.897	▲	0.05	▲	1.61%	

NYSE Volume	 3,885,175,750 			 		 	
Nasdaq Volume	 1,878,269,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,861.92	▲	79.22	▲	1.37%	
	DAX_____	7,335.67	▲	75.04	▲	1.03%	
	CAC_40__	3,475.40	▲	46.13	▲	1.35%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,479.90	▼	-55.50	▼	-1.22%	
	Shanghai_Comp	2,104.43	▲	35.55	▲	1.72%	
	Taiwan_Weight	7,179.64	▲	13.59	▲	0.19%	
	Nikkei_225____	8,946.87	▲	18.58	▲	0.21%	
	Hang_Seng____	21,821.87	▲	53.93	▲	0.83%	
	Strait_Times___	3,026.61	▼	-11.76	▼	-0.39%	
	NZX_50_Index__	3,931.88	▲	0.00	▲	0.00%	

http://finance.yahoo.com/news/us-st...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*US stocks rise on strong economic data

US stocks rise on strong manufacturing and consumer data, positive sales and earnings reports*

By Daniel Wagner,

It's only been a day, but November on Wall Street is already looking a lot better than October. 

Strong economic data and corporate news converged Thursday to give U.S. stocks their best day since mid-September. Positive signs about the job market and soaring sales figures pushed stock futures up before the market opened. A half-hour into trading, reports on manufacturing and consumer confidence added another log to the fire. 

The Dow Jones industrial average had already risen 100 points when the mid-morning reports came out. The data ”” including news that manufacturing grew for the second straight month ”” pushed it up as much as 177 points. It fell back some, but held a steady gain for the rest of the day. 

The Dow closed up 136.16 points, or 1 percent, to close at 13,232.62. It was the best day for the Dow since Sept. 13. 

The Standard & Poor's 500 index rose 15.43 points, or 1.1 percent, to 1,427.59. The Nasdaq composite index added 42.83, or 1.4 percent, to 3,020.06. 

All three indexes fell in October, their first monthly losses since May. 

The 10 a.m. surge came after the Institute for Supply Management said factories are seeing more new orders and increased production. The index has shown growth for the first two months of this quarter, an encouraging sign about the health of corporate America. Before that, manufacturing had decreased for three straight months. 

The Conference Board said Americans' confidence in the economy surged last month to the highest level in nearly five years. Many were encouraged by an improving job market, the group said. 

Traders watch manufacturing and consumer confidence because factories and consumers are crucial players in the economic recovery. Manufacturing lifted America out of recession, and the resurgent car industry has supported the economy during recent periods of weakness. Consumers, meanwhile, account for about 70 percent of economic activity. If they're not happy enough to spend, no one else has the buying power to take up the slack. 

Manufacturing growth tends to signal higher corporate earnings, said Doug Cote, chief market strategist at ING Investment Management. U.S. companies are midway through reporting their third-quarter earnings, which have been relatively weak. If factories keep boosting their output, Cote said, earnings are more likely to bounce back in the fourth quarter. 

"What you want to see is advancing corporate profits, broad manufacturing growth and strong consumer spending," Cote said. Cote said those factors, along with corporate earnings, set the tone for the market. 

Also setting the tone Thursday was anticipation of the Labor Department's October jobs report, which is due out on Friday. Before trading began, the government said new applications for unemployment benefits fell 9,000 last week to a seasonally adjusted 363,000, a level consistent with modest hiring. Separately, payroll provider ADP said businesses added 158,000 jobs in October. 

Those data are a warm-up for Friday's overall survey of the job market. The report will be watched closely by traders seeking clues about how well the U.S. economy is recovering. If the number is especially good or bad, it also could influence the outcome of next week's presidential election. 

It was the second day of trading after Superstorm Sandy ravaged New York and forced markets to close on Monday and Tuesday. Companies that had postponed earnings announcements rushed to release their results. 

The combination of better news on the economy and U.S. companies set stocks on a positive course. The upswing started with strong sales results from retailers and automakers. Chrysler had its best October in five years, with sales rising 10 percent, despite the three-day disruption caused by the storm. 

Exxon Mobil beat the financial expectations of analysts surveyed by FactSet, but reported lower production of oil and gas. Its stock rose 43 cents to $91.60. 

Kellogg Co.'s net income edged up in the third quarter as its acquisition of Pringles chips earlier this year paid off. Kellogg leapt $1.18, or 2.3 percent, to $53.50. 

Pfizer said its third-quarter profit fell 14 percent on plunging sales, mainly due to new competition from generic forms of Lipitor, long the world's top-selling drug. Pfizer fell 32 cents to $24.55.


----------



## bigdog

Source: http://finance.yahoo.com 

Waterlogged from Superstorm Sandy and unmoved by a solid October jobs report, U.S. stocks fell sharply Friday. The Dow Jones industrial average dropped 139 points as details about the storm's costs began to trickle out. 

Verizon Communications, whose downtown Manhattan facilities are still without power, said the storm would have a "significant" effect on its fourth-quarter earnings. Verizon said it could not yet estimate the cost of the storm, which downed cell towers across the region. Its stock fell 62 cents to $44.52. 

"The information coming out from the economic impact of Sandy is a negative," said Rob Lutts, president of Cabot Money Management in Salem, Mass. "I think the markets are trying to digest that and understand that, so there is a little bit of uncertainty." 

Insurers, the group that will feel the storm's effects most acutely, plunged en masse as analysts warned that the storm will eat into their income. Raymond James analysts lowered their estimates for Allstate; Barclays analysts cut theirs for Hartford Financial Services Group Inc. 

The chairman of Hartford, Liam McGee, told investors on a conference call that the storm's costs are just beginning to come into focus. "It's much too early for us to provide data with any level of certainty," McGee said. He said it wasn't until Thursday that adjustors were able to view the damage to Long Island, one of the hardest-hit areas. 

Hartford fell 66 cents, or 3 percent, to $21.26. Allstate dropped 49 cents to $38.56. American International Group Inc. plunged $2.52, or 7 percent, to $32.68. Genworth Financial Inc. dropped 16 cents, or 3 percent, to $6.06. 

After a day of steady selling, the Dow Jones industrial average closed down 139.46 points, or 1.1 percent, at 13,093.16. The Standard & Poor's 500 index dropped 13.39, or 0.9 percent, at 1,414.20. The Nasdaq composite index lost 37.93 points, or 1.3 percent, to 2,982.13. 

The day started with a burst of hope: In the last big piece of economic news before Tuesday's presidential election, the Labor Department said employers added 171,000 jobs last month, while the unemployment rate ticked up to 7.9 percent. More jobs were added in the previous two months than was first reported, the government said. 

European stocks rose on the news and U.S. stocks opened higher. The Dow gained as much as 57 points in the first half-hour of trading. After that, the indexes commenced a steady slide. 

All ten categories in the S&P 500 were lower by the end of the day. Consumer discretionary stocks had the narrowest loss.

 *The NYSE DOW closed  	LOWER ▼	-139.46	points or ▼	-1.05%	Friday, 2 November 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,093.16	▼	-139.46	▼	-1.05%	
	Nasdaq____	2,982.13	▼	-37.93	▼	-1.26%	
	S&P_500____	1,414.20	▼	-13.39	▼	-0.94%	
	30_Yr_Bond____	2.917	▲	0.02	▲	0.69%	

NYSE Volume	 3,576,460,250 			 		 	
Nasdaq Volume	 1,820,933,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,868.55	▲	6.63	▲	0.11%	
	DAX_____	7,363.85	▲	28.18	▲	0.38%	
	CAC_40__	3,492.46	▲	17.06	▲	0.49%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,483.30	▲	3.40	▲	0.08%	
	Shanghai_Comp	2,117.05	▲	12.62	▲	0.60%	
	Taiwan_Weight	7,210.47	▲	30.83	▲	0.43%	
	Nikkei_225____	9,051.22	▲	104.35	▲	1.17%	
	Hang_Seng____	22,111.33	▲	53.93	▲	1.33%	
	Strait_Times___	3,040.75	▲	14.14	▲	0.47%	
	NZX_50_Index__	3,914.08	▼	-17.81	▼	-0.45%	

http://finance.yahoo.com/news/us-stocks-waterlogged-sandys-mounting-204539207.html

*US stocks waterlogged by Sandy's mounting costs

Stocks sink as the costs of Superstorm Sandy add up; a solid jobs report offers little relief*

By Daniel Wagner, AP Business Writer

Waterlogged from Superstorm Sandy and unmoved by a solid October jobs report, U.S. stocks fell sharply Friday. The Dow Jones industrial average dropped 139 points as details about the storm's costs began to trickle out. 

Verizon Communications, whose downtown Manhattan facilities are still without power, said the storm would have a "significant" effect on its fourth-quarter earnings. Verizon said it could not yet estimate the cost of the storm, which downed cell towers across the region. Its stock fell 62 cents to $44.52. 

"The information coming out from the economic impact of Sandy is a negative," said Rob Lutts, president of Cabot Money Management in Salem, Mass. "I think the markets are trying to digest that and understand that, so there is a little bit of uncertainty." 

Insurers, the group that will feel the storm's effects most acutely, plunged en masse as analysts warned that the storm will eat into their income. Raymond James analysts lowered their estimates for Allstate; Barclays analysts cut theirs for Hartford Financial Services Group Inc. 

The chairman of Hartford, Liam McGee, told investors on a conference call that the storm's costs are just beginning to come into focus. "It's much too early for us to provide data with any level of certainty," McGee said. He said it wasn't until Thursday that adjustors were able to view the damage to Long Island, one of the hardest-hit areas. 

Hartford fell 66 cents, or 3 percent, to $21.26. Allstate dropped 49 cents to $38.56. American International Group Inc. plunged $2.52, or 7 percent, to $32.68. Genworth Financial Inc. dropped 16 cents, or 3 percent, to $6.06. 

After a day of steady selling, the Dow Jones industrial average closed down 139.46 points, or 1.1 percent, at 13,093.16. The Standard & Poor's 500 index dropped 13.39, or 0.9 percent, at 1,414.20. The Nasdaq composite index lost 37.93 points, or 1.3 percent, to 2,982.13. 

The day started with a burst of hope: In the last big piece of economic news before Tuesday's presidential election, the Labor Department said employers added 171,000 jobs last month, while the unemployment rate ticked up to 7.9 percent. More jobs were added in the previous two months than was first reported, the government said. 

European stocks rose on the news and U.S. stocks opened higher. The Dow gained as much as 57 points in the first half-hour of trading. After that, the indexes commenced a steady slide. 

All ten categories in the S&P 500 were lower by the end of the day. Consumer discretionary stocks had the narrowest loss. 

Internet travel sites priceline.com and TripAdvisor Inc. were among the S&P 500's top gainers. The companies surprised investors with better-than-expected third-quarter earnings after the market closed on Thursday. TripAdvisor rose $5.71, or 19 percent, to $35.12. Priceline added $48.64, or 8 percent, to $634.74. 

Starbucks rounded out the S&P 500's top three gainers, adding $4.22, or 9 percent, to $50.84. The ubiquitous coffee vendor said late Thursday that global revenue at cafes open at least a year rose 6 percent during its fiscal fourth quarter, which runs from July through September. 

Home decor retailer Restoration Hardware Holdings Inc. shot up $7.10, or 30 percent, to $31.10 in its first day of trading on the New York Stock Exchange.

4631


----------



## bigdog

Source: http://finance.yahoo.com 

On the day before the U.S. presidential election, stock indexes managed slight gains in thin trading. 

After wavering between small gains and losses, the Dow Jones industrial average ended with a gain of 19.28 points to start the week, closing at 13,112.44 on Monday. 

Uncertainty surrounding the election will prevent most investors from making any big moves before it's over, said Randy Frederick, managing director of active trading and derivatives at the brokerage Charles Schwab. 

National polls show President Barack Obama and Mitt Romney locked in a tight race. The two candidates are spending the final days of the campaign holding rallies in Ohio and other states considered crucial to winning the White House. 

"I honestly think the markets are going to sit here and mark time," Frederick said. "The markets have a tendency to trade sideways before big news events, and nothing is bigger than a presidential election." 

Frederick said he believes that no matter who wins, the stock market will likely surge once it's over for the sole reason that investors will know the name of the next president. 

But that's assuming there's a winner by Wednesday. If the election comes down to a thin margin in a swing state, the outcome could be delayed for days. 

In other Monday trading, the Standard & Poor's 500 index rose 3.06 points to 1,417.26, while the Nasdaq composite index climbed 17 points to 2,999.66. Just 2.9 billion shares were traded on the New York Stock Exchange, well below the recent average. 

Apple rose $7.82 to $584.62. The company said it sold 3 million iPads in the three days after launching a smaller version, the Mini. Tim Cook, Apple's CEO, said the iPad Mini is "practically sold out." 

In the market for U.S. government debt, the yield on the 10-year Treasury note fell to 1.68 percent, down from 1.72 percent late Friday. 

 *The NYSE DOW closed  	HIGHER ▲	19.28	points or ▲	0.15%	Monday, 5 November 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,112.44	▲	19.28	▲	0.15%	
	Nasdaq____	2,999.66	▲	17.53	▲	0.59%	
	S&P_500____	1,417.26	▲	3.06	▲	0.22%	
	30_Yr_Bond____	2.871	▼	-0.05	▼	-1.58%	

NYSE Volume	 2,898,911,750 			 		 	
Nasdaq Volume	 1,496,501,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,839.06	▼	-29.49	▼	-0.50%	
	DAX_____	7,326.47	▼	-37.38	▼	-0.51%	
	CAC_40__	3,448.50	▼	-43.96	▼	-1.26%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,493.60	▲	10.30	▲	0.23%	
	Shanghai_Comp	2,114.03	▼	-3.02	▼	-0.14%	
	Taiwan_Weight	7,185.36	▼	-25.11	▼	-0.35%	
	Nikkei_225____	9,007.44	▼	-43.78	▼	-0.48%	
	Hang_Seng____	22,006.40	▲	53.93	▼	-0.47%	
	Strait_Times___	3,032.70	▼	-8.05	▼	-0.26%	
	NZX_50_Index__	3,908.26	▼	-5.81	▼	-0.15%	

http://finance.yahoo.com/news/stock-market-edges-day-ahead-213323947.html

*Stock market edges up a day ahead of election

Stock indexes manage slight gains as investors await US election*


By Matthew Craft, AP Business Writer

On the day before the U.S. presidential election, stock indexes managed slight gains in thin trading. 

After wavering between small gains and losses, the Dow Jones industrial average ended with a gain of 19.28 points to start the week, closing at 13,112.44 on Monday. 

Uncertainty surrounding the election will prevent most investors from making any big moves before it's over, said Randy Frederick, managing director of active trading and derivatives at the brokerage Charles Schwab. 

National polls show President Barack Obama and Mitt Romney locked in a tight race. The two candidates are spending the final days of the campaign holding rallies in Ohio and other states considered crucial to winning the White House. 

"I honestly think the markets are going to sit here and mark time," Frederick said. "The markets have a tendency to trade sideways before big news events, and nothing is bigger than a presidential election." 

Frederick said he believes that no matter who wins, the stock market will likely surge once it's over for the sole reason that investors will know the name of the next president. 

But that's assuming there's a winner by Wednesday. If the election comes down to a thin margin in a swing state, the outcome could be delayed for days. 

In other Monday trading, the Standard & Poor's 500 index rose 3.06 points to 1,417.26, while the Nasdaq composite index climbed 17 points to 2,999.66. Just 2.9 billion shares were traded on the New York Stock Exchange, well below the recent average. 

Apple rose $7.82 to $584.62. The company said it sold 3 million iPads in the three days after launching a smaller version, the Mini. Tim Cook, Apple's CEO, said the iPad Mini is "practically sold out." 

In the market for U.S. government debt, the yield on the 10-year Treasury note fell to 1.68 percent, down from 1.72 percent late Friday. 

There was only one major economic report, a measure of activity among so-called service companies, which employ about 90 percent of the American workforce. The Institute for Supply Management's service-sector index showed growth in October, but at a slower pace than in September, and just short of what economists expected. 

In Europe, renewed focus on Greece's economic problems combined with uncertainty over the U.S. election to push markets lower. Germany's benchmark index, the DAX, dropped 0.5 percent, and the CAC-40 in France fell 1.3 percent. 

"With the race so close, investors are understandably risk-averse today," said James Hughes, chief market analyst at Alpari, a London brokerage. 

Among stocks making big moves: 

”” Tesla Motors jumped 9 percent after the maker of rechargable electric cars said it was now producing enough of its Model S cars to generate positive cash flow. Tesla, the brainchild of PayPal billionaire and SpaceX founder Elon Musk, now has two all-electric models on the market, the $109,000 Roadster and the new Model S. The company's stock gained $2.58 to $31.50. 

”” Stifel Financial said it reached an agreement to buy the investment bank KBW in a $575 million deal. The boards of both companies have already signed off, but shareholders of KBW and regulators must follow suit. KBW's stock leapt $1.17 to $17.47. 

”” Time Warner Cable lost 6 percent, the biggest drop of any company in the S&P 500. The country's second-largest cable company posted earnings Monday morning that fell short of analysts' predictions. Time Warner reported stronger revenue across most of its businesses but lost 140,000 cable TV subscribers in three months. The company's stock fell $6.24 to $91.93.


----------



## bigdog

Source: http://finance.yahoo.com 

Major stock-market indexes climbed Tuesday as investors waited for the finish of a closely fought U.S. presidential election. 

"We're on pins and needles," said Phil Orlando, chief equity strategist at Federated Investors, a money management firm. Orlando, who backs Republican Mitt Romney, said he thought the stock-market's gains reflected optimism that Romney could win. 

The Dow Jones industrial average rose 133.24 points to close at 13,245.68. 

Companies that investors believe would benefit under a potential Romney administration surged ahead. They included United Technologies and Boeing, which do substantial business with the Defense Department. 

Four financial companies ”” Travelers, American Express, JPMorgan Chase and Bank of America ”” ranked among the 10 biggest gainers in the 30-stock Dow average. 

Other investors say that they simply want the election behind them. That will allow Wall Street and Congress to shift their attention to the so-called fiscal cliff, a package of tax increases and government spending cuts scheduled to take effect Jan. 1. 

In other trading Tuesday, the Standard & Poor's 500 index rose 11.13 points to 1,428.39, while the Nasdaq composite index gained 12.27 points to 3,011.93. 

 *The NYSE DOW closed  	HIGHER ▲	133.24	points or ▲	1.02%	Tuesday, 6 November 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,245.68	▲	133.24	▲	1.02%	
	Nasdaq____	3,011.93	▲	12.27	▲	0.41%	
	S&P_500____	1,428.39	▲	11.13	▲	0.79%	
	30_Yr_Bond____	2.916	▲	0.05	▲	1.57%	

NYSE Volume	 3,262,372,000 			 		 	
Nasdaq Volume	 1,777,828,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,884.90	▲	45.84	▲	0.79%	
	DAX_____	7,377.76	▲	51.29	▲	0.70%	
	CAC_40__	3,478.66	▲	30.16	▲	0.87%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,503.70	▲	10.10	▲	0.22%	
	Shanghai_Comp	2,106.00	▼	-8.03	▼	-0.38%	
	Taiwan_Weight	7,236.68	▲	51.32	▲	0.71%	
	Nikkei_225____	8,975.15	▼	-32.29	▼	-0.36%	
	Hang_Seng____	21,944.43	▲	53.93	▼	-0.28%	
	Strait_Times___	3,019.33	▼	-12.36	▼	-0.41%	
	NZX_50_Index__	3,927.67	▲	19.41	▲	0.50%	

http://finance.yahoo.com/news/stocks-rise-investors-wait-winner-145959084.html

*Stocks rise as investors wait for a winner

Stocks climb on Wall Street; investors wait for outcome of presidential election*

By Matthew Craft, AP Business Writer

Major stock-market indexes climbed Tuesday as investors waited for the finish of a closely fought U.S. presidential election. 

"We're on pins and needles," said Phil Orlando, chief equity strategist at Federated Investors, a money management firm. Orlando, who backs Republican Mitt Romney, said he thought the stock-market's gains reflected optimism that Romney could win. 

The Dow Jones industrial average rose 133.24 points to close at 13,245.68. 

Companies that investors believe would benefit under a potential Romney administration surged ahead. They included United Technologies and Boeing, which do substantial business with the Defense Department. 

Four financial companies ”” Travelers, American Express, JPMorgan Chase and Bank of America ”” ranked among the 10 biggest gainers in the 30-stock Dow average. 

Other investors say that they simply want the election behind them. That will allow Wall Street and Congress to shift their attention to the so-called fiscal cliff, a package of tax increases and government spending cuts scheduled to take effect Jan. 1. 

In other trading Tuesday, the Standard & Poor's 500 index rose 11.13 points to 1,428.39, while the Nasdaq composite index gained 12.27 points to 3,011.93. 

The price of crude oil jumped $3 to $88.71 in New York as reports suggested that Superstorm Sandy caused a drop in gasoline supplies. That also helped lift stocks in petroleum refiners. Tesoro Corp and Phillips 66 each rose 5 percent. 

In the market for government bonds, the yield on the benchmark 10-year U.S. Treasury note rose to 1.75 percent. That's up from 1.68 percent late Monday. 

Even with the surge Tuesday, it remained a quieter Election Day for the stock market than last time. 

During the financial meltdown four years ago, big swings in the market became commonplace. On Nov. 4, 2008, the Dow shot up 305 points, easily the biggest Election Day rally of all time. Investors expected a victory for Barack Obama. 

On Election Day 2004, the prospect of a close election led to a late sell-off, and the Dow finished down 18 points, snapping a five-day winning streak. John Kerry didn't concede to George W. Bush until the following day. 

Among other stocks making big moves Tuesday: 

”” Weight-loss company Medifast rose $2.29 to $29.11 after reporting that its quarterly earnings increased more than 40 percent as expenses fell. 

”” Express Scripts sank $7.73 to $55.15. The pharmacy benefits manager warned that persistently high unemployment and economic uncertainty would hurt its business next year. 

”” NYSE Euronext fell $1.34 to $24.27. The parent company of the New York Stock Exchange reported Tuesday that its quarterly earnings fell by nearly half. A drop in the number of transactions it handles pulled down revenue.


----------



## bigdog

Source: http://finance.yahoo.com 

Wall Street greeted a second Obama term the way it greeted the first. 

Investors dumped stocks Wednesday in the sharpest sell-off of the year. With the election only hours behind them, they focused on big problems ahead in Washington and across the Atlantic Ocean. 

Frantic selling recalled the days after Obama's first victory, as the financial crisis raged and stocks spiraled downward. 

Four years later, American voters returned a divided government to power and left investors fretting about a package of tax increases and government spending cuts that could stall the economic recovery unless Congress acts to stop it by Jan. 1. 

In Europe, leaders warned that unemployment could remain high for years, and cut their forecasts for economic growth for this year and 2013. The head of the European Central Bank said not even powerhouse Germany is immune. 

The Dow Jones industrial average plummeted as much as 369 points, or 2.8 percent, in the first two hours of trading. It recovered steadily in the afternoon, but slid into the close and ended down 313, its biggest point drop since this time last year. 

"It does look ugly," said Robert Pavlik, chief market strategist at Banyan Partners LLC. He said it was hard to untangle the impact of Europe-related selling from nerves about the nation's fiscal uncertainty. 

"It's a combination of all that, quite honestly," Pavlik said. 

It was the worst day for stocks this year, but not the worst after an election. That distinction belongs to 2008, when Barack Obama was elected at the depths of the financial crisis. The Dow fell 486 points the next day. 

This time, energy companies and bank stocks took some of the biggest losses. Both industries would have faced lighter, less costly regulation if Mitt Romney had won the election. 

Stocks seen as benefiting from Obama's decisive re-election rose. They included hospitals, suddenly free of the threat that Romney would roll back Obama's health care law. 

Obama was elected Nov. 4, 2008. 

The Dow plunged more than 400 points on each of the next two trading days. 

The blue-chip average hit bottom at 6,547 in March 2009, less than two months after Obama took office. 

Then it doubled over the next three-plus years as the crisis eased and a fragile economic recovery took root. 

Things were looking so good that until recently, some analysts were betting on when the market might hit an all-time high. 

 *The NYSE DOW closed  	LOWER ▼	-312.95	points or ▼	-2.36%	Wednesday, 7 November 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,932.73	▼	-312.95	▼	-2.36%	
	Nasdaq____	2,937.29	▼	-74.64	▼	-2.48%	
	S&P_500____	1,394.53	▼	-33.86	▼	-2.37%	
	30_Yr_Bond____	2.821	▼	-0.10	▼	-3.26%	

NYSE Volume	 4,322,125,500 			 		 	
Nasdaq Volume	 2,059,028,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,791.63	▼	-93.27	▼	-1.58%	
	DAX_____	7,232.83	▼	-144.93	▼	-1.96%	
	CAC_40__	3,409.59	▼	-69.07	▼	-1.99%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,534.20	▲	30.50	▲	0.68%	
	Shanghai_Comp	2,105.73	▼	-0.27	▼	-0.01%	
	Taiwan_Weight	7,287.18	▲	50.50	▲	0.70%	
	Nikkei_225____	8,972.89	▼	-2.26	▼	-0.03%	
	Hang_Seng____	22,099.85	▲	53.93	▲	0.71%	
	Strait_Times___	3,043.16	▲	23.83	▲	0.79%	
	NZX_50_Index__	3,943.10	▲	15.42	▲	0.39%	

http://finance.yahoo.com/news/dow-loses-313-post-election-214435706.html

*Dow loses 313 in post-election sell-off

Dow falls 313 in second straight post-election sell-off; energy companies and banks hard-hit*

By Daniel Wagner, AP Business Writer

Wall Street greeted a second Obama term the way it greeted the first. 

Investors dumped stocks Wednesday in the sharpest sell-off of the year. With the election only hours behind them, they focused on big problems ahead in Washington and across the Atlantic Ocean. 

Frantic selling recalled the days after Obama's first victory, as the financial crisis raged and stocks spiraled downward. 

Four years later, American voters returned a divided government to power and left investors fretting about a package of tax increases and government spending cuts that could stall the economic recovery unless Congress acts to stop it by Jan. 1. 

In Europe, leaders warned that unemployment could remain high for years, and cut their forecasts for economic growth for this year and 2013. The head of the European Central Bank said not even powerhouse Germany is immune. 

The Dow Jones industrial average plummeted as much as 369 points, or 2.8 percent, in the first two hours of trading. It recovered steadily in the afternoon, but slid into the close and ended down 313, its biggest point drop since this time last year. 

"It does look ugly," said Robert Pavlik, chief market strategist at Banyan Partners LLC. He said it was hard to untangle the impact of Europe-related selling from nerves about the nation's fiscal uncertainty. 

"It's a combination of all that, quite honestly," Pavlik said. 

It was the worst day for stocks this year, but not the worst after an election. That distinction belongs to 2008, when Barack Obama was elected at the depths of the financial crisis. The Dow fell 486 points the next day. 

This time, energy companies and bank stocks took some of the biggest losses. Both industries would have faced lighter, less costly regulation if Mitt Romney had won the election. 

Stocks seen as benefiting from Obama's decisive re-election rose. They included hospitals, suddenly free of the threat that Romney would roll back Obama's health care law. 

Obama was elected Nov. 4, 2008. 

The Dow plunged more than 400 points on each of the next two trading days. 

The blue-chip average hit bottom at 6,547 in March 2009, less than two months after Obama took office. 

Then it doubled over the next three-plus years as the crisis eased and a fragile economic recovery took root. 

Things were looking so good that until recently, some analysts were betting on when the market might hit an all-time high. 

Of course, the market today is far less precarious than it was in 2008. The financial system has stabilized. Europe appears to be serious about tackling its debt crisis, despite frequent setbacks. 

The housing market appears to be coming back, and the economy has added jobs for more than two and a half years. 

On the day after the 28 other presidential elections since 1900, the stock market has gone up 13 times and down 15 times, according to research by Bespoke Investment Group, a market research company. 

The best day-after performance was in 1900, another re-election. The Dow jumped more than 3 percent on the day after William McKinley won a second term, according to Bespoke. 

With the 2012 election over, traders turned to Europe's increasingly sickly economy, dragged down by a debt crisis for more than three years. The 27-country European Union said unemployment there could remain high for years. 

The European Commission, the executive arm of the EU, said that it expects the region's economic output to shrink 0.3 percent this year. In the spring, the group predicted no change. 

For next year, the commission predicted 0.4 percent growth, barely above recession territory. It predicted 1.3 percent last spring. 

Renewed focus on European economic problems also pushed the price of oil down $4.27 per barrel, its biggest decline of the year, to finish at $84.44, the lowest since July 10. 

The Dow closed down 312.95 points, or 2.4 percent, at 12,932.73 ”” its first close below 13,000 since Aug. 2. 

The Standard & Poor's 500 index fell 33.86 points, or 2.4 percent, to 1,394. That was the broader index's first close below 1,400 since Aug. 30. 

The Nasdaq composite index lost 74.64 points, or 2.5 percent, to 2.937.29. 

U.S. stock futures had risen overnight after Obama cruised to victory. They turned sharply lower after the European forecasts and discouraging comments from Mario Draghi, president of the European Central Bank. 

Now that the U.S. election has been resolved, it's natural for traders to focus on Europe's problems, said Peter Tchir, who manages the hedge fund TF Market Advisors. 

What they're tuning in to, he said, is the failure of a major European summit last week and minimal progress on the issues that are holding the region back. 

"People can only digest one or two stories at a time, and people had put Europe on the back burner" before the election, he said. 

Obama's win followed a costly campaign that blanketed markets with uncertainty about possible changes to tax rates, government spending and other issues seen as crucial to the prospects of some industries and the broader economy. 

As jitters about the election subsided, traders confronted an ugly reality: The so-called fiscal cliff, which will impose automatic tax increases and deep cuts to government spending at the end of the year unless the president and Congress reach a deal. 

That's no easy task for a deadlocked government whose overall composition has barely changed ”” a Democratic president and Senate and a Republican House. 

If Congress and the White House don't reach a deal, the spending cuts and tax increases could total $800 billion next year. Some economists say that could push the economy back into recession. 

"Obama's re-election does not change the bigger economic or fiscal picture," Paul Ashworth of Capital Economics, an economic research company, said in a note to clients. 

Fitch Ratings offered a warning Wednesday about the perils facing the U.S. If Obama does not quickly forge agreement with Congress to avert the fiscal cliff, the credit rating agency said, it may strip the U.S. of its sterling AAA credit rating. 

The government's failure to come up with a plan to reduce the deficit led Standard & Poor's to cut its rating of long-term U.S. Treasury securities last year from a sterling AAA to AA+. It was the first-ever downgrade of U.S. government debt. 

Tobias Levkovich, a financial analyst at Citi Research, told clients Wednesday that a compromise on taxes and spending was likely in mid- to late January, but that stocks will probably fall in the meantime. 

A deal early next year is much more likely "once the political class begins to negotiate realistically and as the consequences ... are too costly for either party to ignore," he wrote. 

European markets closed sharply lower, with benchmark indexes in France and Germany losing 2 percent. Italy lost 2.5 percent; Spain lost 2.3 percent. 

As traders streamed into lower-risk investments, the yield on the 10-year Treasury note plunged to 1.64 percent from 1.75 percent late Tuesday. A bond's yield declines as demand for it increases. 

Most industries reacted to the election much as analysts had expected. 

Big, publicly traded hospital companies soared because of expectations that they will gain business under the health care law, known as ObamaCare. HCA Holdings leapt 9.4 percent, Tenet Healthcare 9.6 percent, Community Health Systems 6 percent and Universal Health Services 4.3 percent. 

Not all hospital companies are expected to benefit. Many serve patients who will be covered by Medicaid plans that generally do not cover the full cost of care provided by hospitals. 

Health insurance stocks sank, defying many analysts' expectations. ObamaCare will expand coverage of the uninsured in 2014, giving insurers millions of new customers. But the overhaul also imposes fees and restrictions on the companies, potentially threatening their profitability. Humana slid 7.9 percent, UnitedHealth Group 3.8 percent, Aetna 4.2 percent and Wellpoint 5.5 percent. 

With Obama seeking to restrain the growth of military spending, defense companies could struggle to win government contracts. Their stocks fell sharply: Lockheed Martin lost 3.9 percent, Northrop Grumman 4.6 percent and General Dynamics 3.9 percent. 

Among the 10 industry groups in the S&P 500 index, financial stocks and energy companies fell the most. 

Banks figure to face tougher regulation in a second Obama term than they would have under Romney. JPMorgan Chase fell 5.6 percent, Citigroup 6.3 percent, Bank of America 7.1 percent, Goldman Sachs 6.6 percent and Morgan Stanley 8.6 percent. 

The biggest losers were coal companies, which had hoped that a Romney administration would loosen mine safety and pollution rules that make it more costly for them to operate. Peabody Energy dived 9.6 percent, Consol Energy 6.1 percent, Alpha Natural Resources 12.2 percent and Arch Coal 12.5 percent. 

Oil companies fell less steeply. 

Trading also reflected the outcome of ballot measures decided in Tuesday's election. After two states approved the recreational use of marijuana for the first time, Medical Marijuana Inc., a company too small to be listed on major exchanges, surged 22 percent. 

Other notable moves included Apple, the world's most valuable company. It fell 3.8 percent to $558.00 and has dropped 20 percent from its all-time high of $705.07, reached Sept. 21.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks slid on Wall Street Thursday, a day after the Dow Jones industrial average logged its biggest one-day drop of the year, as investors fretted about the potential for gridlock in Washington. 

The Dow closed down 121.41 points to 12,811.32, bringing its two-day loss to 434 points. The Standard and Poor's 500 index fell 17.02 points to 1,377.51 and the Nasdaq composite slipped 41.71 to 2,895.58. 

The Dow plunged 313 points Wednesday, its fifth worst one-day drop following a U.S. presidential election. The biggest, in 2008, came in the midst of the financial crisis on the day after President Barack Obama won his first term. 

The two-day slump came in the wake of Obama's re-election to a second term as investors turned their focus back to Europe's problems and the so-called fiscal cliff, a package of tax increases and government spending cuts in the U.S. that will occur unless Congress acts by Jan. 1. Investors see it as a serious threat to the economic recovery. 

"The thinking before the election was that it would remove some of the uncertainty, but it seems to have done the opposite," said Tyler Vernon, chief investment officer at Biltmore Capital Advisors in Princeton, N.J. 

Stocks are still up on the year, but well below the peak they reached in September. That was when the Federal Reserve announced a third round of its bond-buying program, which is intended to hold down borrowing costs and encourage lending. 

The S&P 500 is 6 percent below its high close of the year, 1,465, which it reached on Sept. 14. That was its highest level in nearly five years. It's still up 10 percent for the year. 

Investors may be tempted to sell appreciated stock before a possible increase in the capital gains tax at the end of the year, Vernon said. Tax cuts enacted by President George W. Bush expire at the end of this year and the U.S. government wants to cut a $1 trillion budget deficit. 

"The mood of the market has certainly switched," said J.J. Kinahan, chief derivatives strategist at TD Ameritrade, as investors monitor developments on the fiscal cliff and wait for more clues about Obama's agenda. 

Investors were encouraged by two reports on the U.S. economy that came out before the market opened. The Dow climbed as much as 48 points in the morning but started to sink after the first hour of trading. 

 *The NYSE DOW closed  	LOWER ▼	-121.41	points or ▼	-0.94%	Thursday, 8 November 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,811.32	▼	-121.41	▼	-0.94%	
	Nasdaq____	2,895.58	▼	-41.71	▼	-1.42%	
	S&P_500____	1,377.51	▼	-17.02	▼	-1.22%	
	30_Yr_Bond____	2.769	▼	-0.05	▼	-1.84%	

NYSE Volume	 3,759,670,750 			 		 	
Nasdaq Volume	 1,876,114,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,776.05	▼	-15.58	▼	-0.27%	
	DAX_____	7,204.96	▼	-27.87	▼	-0.39%	
	CAC_40__	3,407.68	▼	-1.91	▼	-0.06%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,502.20	▼	-32.00	▼	-0.71%	
	Shanghai_Comp	2,071.51	▼	-34.22	▼	-1.63%	
	Taiwan_Weight	7,242.63	▼	-44.55	▼	-0.61%	
	Nikkei_225____	8,837.15	▼	-135.74	▼	-1.51%	
	Hang_Seng____	21,566.91	▲	53.93	▼	-2.41%	
	Strait_Times___	3,012.25	▼	-31.02	▼	-1.02%	
	NZX_50_Index__	3,955.25	▲	12.15	▲	0.31%	

http://finance.yahoo.com/news/stocks-slide-wall-street-extending-180001035.html


*Stocks slide on Wall Street, extending sell-off

Stocks slide on Wall Street, extending sell-off from the day before, as gridlock fears return*

By Steve Rothwell, AP Business Writer

Stocks slid on Wall Street Thursday, a day after the Dow Jones industrial average logged its biggest one-day drop of the year, as investors fretted about the potential for gridlock in Washington. 

The Dow closed down 121.41 points to 12,811.32, bringing its two-day loss to 434 points. The Standard and Poor's 500 index fell 17.02 points to 1,377.51 and the Nasdaq composite slipped 41.71 to 2,895.58. 

The Dow plunged 313 points Wednesday, its fifth worst one-day drop following a U.S. presidential election. The biggest, in 2008, came in the midst of the financial crisis on the day after President Barack Obama won his first term. 

The two-day slump came in the wake of Obama's re-election to a second term as investors turned their focus back to Europe's problems and the so-called fiscal cliff, a package of tax increases and government spending cuts in the U.S. that will occur unless Congress acts by Jan. 1. Investors see it as a serious threat to the economic recovery. 

"The thinking before the election was that it would remove some of the uncertainty, but it seems to have done the opposite," said Tyler Vernon, chief investment officer at Biltmore Capital Advisors in Princeton, N.J. 

Stocks are still up on the year, but well below the peak they reached in September. That was when the Federal Reserve announced a third round of its bond-buying program, which is intended to hold down borrowing costs and encourage lending. 

The S&P 500 is 6 percent below its high close of the year, 1,465, which it reached on Sept. 14. That was its highest level in nearly five years. It's still up 10 percent for the year. 

Investors may be tempted to sell appreciated stock before a possible increase in the capital gains tax at the end of the year, Vernon said. Tax cuts enacted by President George W. Bush expire at the end of this year and the U.S. government wants to cut a $1 trillion budget deficit. 

"The mood of the market has certainly switched," said J.J. Kinahan, chief derivatives strategist at TD Ameritrade, as investors monitor developments on the fiscal cliff and wait for more clues about Obama's agenda. 

Investors were encouraged by two reports on the U.S. economy that came out before the market opened. The Dow climbed as much as 48 points in the morning but started to sink after the first hour of trading. 

The Labor Department reported that the number of people seeking unemployment benefits fell 8,000 last week to 355,000, a possible sign that the job market is healing. Officials cautioned that the figures were distorted by Superstorm Sandy. 

A separate report showed that the U.S. trade deficit narrowed to its lowest level in almost two years as exports rose to a record high. 

There was also encouraging news from Europe, where leaders shocked markets a day earlier with a dire forecast for economic growth next year. 

European Central Bank head Mario Draghi said financial market confidence "has visibly improved" as the 17-country group that uses the euro struggles with its debt crisis. But he said the outlook for the economy remains "weak." Draghi spoke after the bank's governing council left its key interest rate unchanged at 0.75 percent. 

The European Commission, the executive arm of the European Union, on Wednesday slashed its outlook for growth for this year and 2013. The report helped set off a sharp decline in stocks in the U.S and Europe. 

Spain's government said that it had met its financing needs for the year after raising the equivalent of $6.07 billion in a series of bond auctions on Thursday. Spain became the focal point of the European debt crisis earlier this year amid concern that it would struggle to refinance its debt at affordable rates. 

Among stocks making big moves: 

”” Energy drink maker Monster Beverage sank 57 cents to $44.40 after the company said its revenue growth slowed in the third quarter. 

”” Dean Foods rose 32 cents to $16.40 after the company reported a third quarter profit of $36 million for the third quarter, compared with a $1.5 billion loss in the same period a year earlier. 

”” Burger chain Wendy's rose 13 cents to $4.39 after the company said that a key sales figure rose. Revenue at restaurants open at least 15 months rose 2.7 percent, the sixth straight quarter of growth. 

”” CBS rose 36 cents to $34.36 after the company said that earnings rose 16 percent as falling ad revenue was offset by higher fees from pay TV distributors.


----------



## bigdog

Source: http://finance.yahoo.com 

Wall Street is peering over the "fiscal cliff" and feeling vertigo. 

The stock market finished one of the worst weeks of the year Friday, pushing Washington to work out a deal to avoid the tax increases and government spending cuts set to take effect Jan. 1. 

Remarks by re-elected President Barack Obama and House Speaker John Boehner on the looming deadline didn't do much to cheer the market. Stocks finished barely higher for the day. 

Chris Bertelsen, the chief investment officer at Global Financial Private Capital of Sarasota, Fla., said he expects Congress and Obama to reach a compromise to avoid the fiscal cliff. 

"But it could well be the conventional U.S. political way of doing it ”” the last minute type of stuff ”” in which case the markets will be haunted by it until the point it happens," he said. 

For the week, the Dow Jones industrial average fell 277 points, or 2.1 percent. The Dow has fallen 795 points since hitting its closing high for the year, 13,610 on Oct. 5. 

The S&P fell 2.3 percent during the week, its worst weekly decline since June 1, when investor concern about the debt crisis in Europe was rising. 

Stocks began their slide Wednesday in the biggest sell-off of the year after voters returned Obama, a Democratic Senate and a Republican House to power. Investors immediately turned to worrying about the cliff. 

If the tax increases and spending cuts take full effect, the U.S. will likely fall back into recession, the Congressional Budget Office said Thursday. 

Boehner said Friday that he remains unwilling to raise tax rates on upper-income earners. But he left open the possibility of balancing spending cuts with revenue increases that come from some revisions to the tax code. 

Stocks managed a small rally. The Dow was up about 30 points when Boehner started talking and about 80 points shortly after. 

Then Obama said he would not accept any approach to federal deficit reduction that doesn't ask the wealthy to pay more in taxes. A spokesman later said Obama would veto legislation extending tax cuts for families making $250,000 or more. 

The Dow began sliding just before Obama spoke, at 1 p.m., and had lost its gain for the day by 1:30. 

As they head into talks with Obama next week on the fiscal cliff, congressional leaders no doubt remember what can happen on Wall Street when investors are worried and watching Washington's every move. 

In September 2008, at the depths of the financial crisis, the House defeated a $700 billion emergency rescue of the nation's financial system, sending the Dow plunging 777 points. 

The Dow also slid for eight straight days in the summer of 2011 as politicians squabbled over a deal to raise the nation's federal borrowing limit before eventually reaching an accord Aug. 1. 

The index slipped as much as 634 points between July 27 as the political bickering intensified and Aug. 5, when S&P downgraded the national credit rating, citing the weakening of U.S. political institutions as a reason for the cut. 

On Friday, stocks pared losses as investors took encouragement about the economy from a report by the University of Michigan showing that consumer confidence rose more than expected in November. 

The Dow finished up 4.07 points at 12,815.39. The S&P advanced 2.34 points to 1,379.85, and the Nasdaq composite gained 9.29 points to 9,204.87. 

Stocks are well below the highs of this year. The S&P is down 5.5 percent from its peak of 1,465 in September, when the Federal Reserve announced a third round of a bond-buying program intended to hold down borrowing costs. 

The dimming outlook for Europe also weighed on markets this week. The European Commission, the executive arm of the European Union, cut its forecast for economic growth in the region Wednesday. 

 *The NYSE DOW closed  	HIGHER ▲	4.07	points or ▲	0.03%	Friday, 9 November 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,815.39	▲	4.07	▲	0.03%	
	Nasdaq____	2,904.87	▲	9.29	▲	0.32%	
	S&P_500____	1,379.85	▲	2.34	▲	0.17%	
	30_Yr_Bond____	2.752	▼	-0.02	▼	-0.61%	

NYSE Volume	 3,572,545,750 			 		 	
Nasdaq Volume	 1,802,938,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,769.68	▼	-6.37	▼	-0.11%	
	DAX_____	7,163.50	▼	-41.46	▼	-0.58%	
	CAC_40__	3,423.57	▲	15.89	▲	0.47%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,482.50	▼	-19.70	▼	-0.44%	
	Shanghai_Comp	2,069.07	▼	-2.44	▼	-0.12%	
	Taiwan_Weight	7,293.22	▲	50.59	▲	0.70%	
	Nikkei_225____	8,757.60	▼	-79.55	▼	-0.90%	
	Hang_Seng____	21,384.38	▲	53.93	▼	-0.85%	
	Strait_Times___	3,009.56	▼	-2.69	▼	-0.09%	
	NZX_50_Index__	3,957.92	▲	2.67	▲	0.07%	

http://finance.yahoo.com/news/feari...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Fearing 'cliff,' investors finish brutal week

One of the worst weeks of the year on Wall Street as investors fret about 'fiscal cliff'*

By Steve Rothwell, AP Business Writer

Wall Street is peering over the "fiscal cliff" and feeling vertigo. 

The stock market finished one of the worst weeks of the year Friday, pushing Washington to work out a deal to avoid the tax increases and government spending cuts set to take effect Jan. 1. 

Remarks by re-elected President Barack Obama and House Speaker John Boehner on the looming deadline didn't do much to cheer the market. Stocks finished barely higher for the day. 

Chris Bertelsen, the chief investment officer at Global Financial Private Capital of Sarasota, Fla., said he expects Congress and Obama to reach a compromise to avoid the fiscal cliff. 

"But it could well be the conventional U.S. political way of doing it ”” the last minute type of stuff ”” in which case the markets will be haunted by it until the point it happens," he said. 

For the week, the Dow Jones industrial average fell 277 points, or 2.1 percent. The Dow has fallen 795 points since hitting its closing high for the year, 13,610 on Oct. 5. 

The S&P fell 2.3 percent during the week, its worst weekly decline since June 1, when investor concern about the debt crisis in Europe was rising. 

Stocks began their slide Wednesday in the biggest sell-off of the year after voters returned Obama, a Democratic Senate and a Republican House to power. Investors immediately turned to worrying about the cliff. 

If the tax increases and spending cuts take full effect, the U.S. will likely fall back into recession, the Congressional Budget Office said Thursday. 

Boehner said Friday that he remains unwilling to raise tax rates on upper-income earners. But he left open the possibility of balancing spending cuts with revenue increases that come from some revisions to the tax code. 

Stocks managed a small rally. The Dow was up about 30 points when Boehner started talking and about 80 points shortly after. 

Then Obama said he would not accept any approach to federal deficit reduction that doesn't ask the wealthy to pay more in taxes. A spokesman later said Obama would veto legislation extending tax cuts for families making $250,000 or more. 

The Dow began sliding just before Obama spoke, at 1 p.m., and had lost its gain for the day by 1:30. 

As they head into talks with Obama next week on the fiscal cliff, congressional leaders no doubt remember what can happen on Wall Street when investors are worried and watching Washington's every move. 

In September 2008, at the depths of the financial crisis, the House defeated a $700 billion emergency rescue of the nation's financial system, sending the Dow plunging 777 points. 

The Dow also slid for eight straight days in the summer of 2011 as politicians squabbled over a deal to raise the nation's federal borrowing limit before eventually reaching an accord Aug. 1. 

The index slipped as much as 634 points between July 27 as the political bickering intensified and Aug. 5, when S&P downgraded the national credit rating, citing the weakening of U.S. political institutions as a reason for the cut. 

On Friday, stocks pared losses as investors took encouragement about the economy from a report by the University of Michigan showing that consumer confidence rose more than expected in November. 

The Dow finished up 4.07 points at 12,815.39. The S&P advanced 2.34 points to 1,379.85, and the Nasdaq composite gained 9.29 points to 9,204.87. 

Stocks are well below the highs of this year. The S&P is down 5.5 percent from its peak of 1,465 in September, when the Federal Reserve announced a third round of a bond-buying program intended to hold down borrowing costs. 

The dimming outlook for Europe also weighed on markets this week. The European Commission, the executive arm of the European Union, cut its forecast for economic growth in the region Wednesday. 

The yield on the 10-year Treasury note was little changed at 1.62 percent compared with 1.61 percent late Thursday. The yield on the benchmark government security has tumbled from as much as 1.84 percent Sept. 17, as investor aversion to risk has grown. Treasury yields fall as investor demand pushes up prices. 

Among other stocks making big moves: 

”” Walt Disney fell $2.98, or 6 percent, to $47.06 after it said that advertising sales were flat at its ESPN unit, raising concern about the outlook for growth. 

”” Online deals company Groupon slumped $1.16, almost 30 percent, to $2.76 after it disclosed late Thursday that it was hurt by the economic problems in Europe and growth failed to meet expectations. 

”” J.C. Penney dropped $1.05 cents, or 4.8 percent, to $20.64 after the company reported a loss that was larger than investors were expecting. Shoppers have been abandoning the store after it got rid of blockbuster sales in favor of everyday low prices. 

”” Kayak Software surged $8.63, or 28 percent, to $39.67 after the company said it had agreed to be bought by rival travel website Priceline.com. 

5406


----------



## bigdog

Source: http://finance.yahoo.com 

U.S. stocks closed nearly unchanged Monday, after a day of uneven trading plagued by investors' fears about the approaching "fiscal cliff." 

The Dow Jones industrial average finished down 0.23 point at 12,815.16. It had spent the day trading gains and losses, never rising more than 46 points or falling more than 32. 

The Standard & Poor's 500 index edged up 0.15 point to 1,380. The Nasdaq composite fell 0.61 to 2,904.26. 

The closing level of the Dow was revised twice after trading closed. The New York Stock Exchange had experienced a trading glitch during the day, forcing it to alter its normal procedure for determining the closing prices of some stocks. 

Trading was very light. The federal government and the U.S. bond market were closed for Veterans Day, and no economic reports were released. 

The fiscal cliff refers to government spending cuts and tax increases that are scheduled to kick in at the beginning of the new year, unless a divided Congress and the White House can work out a compromise before then. 

Some traders thought the tentative trading action was nearly inevitable because there has been no positive or negative news about the economy or the possibility of a deal to avoid the fiscal cliff. 

"Nothing good is going on," said Scott Freeze, president of Street One Financial in Huntingdon Valley, Pa. "Everything forward-looking remains dreary." 

Last week, after voters returned a long-deadlocked and divided government to Washington, the Dow dropped 434 points in two days and had one of its worst weeks of the year. 

Even if lawmakers work out a compromise, as they usually do, the political fight until then is sure keep investors on edge, pitching the stock market back and forth until it's resolved. Economists say the cliff could cost the economy $800 billion and 3 million jobs and would plunge the U.S. back into recession. 

President Barack Obama, a Democrat, and House Speaker John Boehner, a Republican, have spoken of compromise but appear to be taking firm stances on some issues. Obama will meet with labor representatives as well as other progressive groups Tuesday. He'll hold separate meetings with the business community Wednesday. 

The effect on the markets has been widespread. Fiscal cliff worries were blamed for keeping a lid on European markets and Asian markets, which closed mostly lower. 

 *The NYSE DOW closed  	LOWER ▼	-0.23	points or ▼	0.00%	Monday, 12 November 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,815.16	▼	-0.23	▲	0.00%	
	Nasdaq____	2,904.26	▼	-0.61	▼	-0.02%	
	S&P_500____	1,380.00	▲	0.15	▲	0.01%	
	30_Yr_Bond____	2.745	▼	-0.01	▼	-0.25%	

NYSE Volume	 2,519,007,250 			 		 	
Nasdaq Volume	 1,379,209,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,767.27	▼	-2.41	▼	-0.04%	
	DAX_____	7,168.76	▲	5.26	▲	0.07%	
	CAC_40__	3,411.65	▼	-11.92	▼	-0.35%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,469.90	▼	-12.60	▼	-0.28%	
	Shanghai_Comp	2,079.27	▲	10.21	▲	0.49%	
	Taiwan_Weight	7,267.75	▼	-25.47	▼	-0.35%	
	Nikkei_225____	8,676.44	▼	-81.16	▼	-0.93%	
	Hang_Seng____	21,430.30	▲	53.93	▲	0.21%	
	Strait_Times___	3,005.18	▼	-4.38	▼	-0.15%	
	NZX_50_Index__	3,983.99	▲	26.08	▲	0.66%	

http://finance.yahoo.com/news/us-st...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*US stocks nearly unchanged as fiscal threat looms

US stocks close mixed after uneven trading; threat looms of tax hikes, gov't spending cuts*

By Christina Rexrode, AP Business Writers 

U.S. stocks closed nearly unchanged Monday, after a day of uneven trading plagued by investors' fears about the approaching "fiscal cliff." 

The Dow Jones industrial average finished down 0.23 point at 12,815.16. It had spent the day trading gains and losses, never rising more than 46 points or falling more than 32. 

The Standard & Poor's 500 index edged up 0.15 point to 1,380. The Nasdaq composite fell 0.61 to 2,904.26. 

The closing level of the Dow was revised twice after trading closed. The New York Stock Exchange had experienced a trading glitch during the day, forcing it to alter its normal procedure for determining the closing prices of some stocks. 

Trading was very light. The federal government and the U.S. bond market were closed for Veterans Day, and no economic reports were released. 

The fiscal cliff refers to government spending cuts and tax increases that are scheduled to kick in at the beginning of the new year, unless a divided Congress and the White House can work out a compromise before then. 

Some traders thought the tentative trading action was nearly inevitable because there has been no positive or negative news about the economy or the possibility of a deal to avoid the fiscal cliff. 

"Nothing good is going on," said Scott Freeze, president of Street One Financial in Huntingdon Valley, Pa. "Everything forward-looking remains dreary." 

Last week, after voters returned a long-deadlocked and divided government to Washington, the Dow dropped 434 points in two days and had one of its worst weeks of the year. 

Even if lawmakers work out a compromise, as they usually do, the political fight until then is sure keep investors on edge, pitching the stock market back and forth until it's resolved. Economists say the cliff could cost the economy $800 billion and 3 million jobs and would plunge the U.S. back into recession. 

President Barack Obama, a Democrat, and House Speaker John Boehner, a Republican, have spoken of compromise but appear to be taking firm stances on some issues. Obama will meet with labor representatives as well as other progressive groups Tuesday. He'll hold separate meetings with the business community Wednesday. 

The effect on the markets has been widespread. Fiscal cliff worries were blamed for keeping a lid on European markets and Asian markets, which closed mostly lower. 

In Greece, lawmakers passed a new austerity budget, and the country's international lenders drafted a report saying it had made progress in righting its finances. Greece is hoping the other euro countries will give it another $40 billion in bailout loans. The budget and the report are crucial steps toward that goal. 

Still, the new bailout isn't a sure thing: Some of the potential lenders must seek approval from their parliaments. Greece's main stock market index closed down 3.6 percent. 

Freeze was among the underwhelmed. "At this point, all the Greek news is just noise," he said. "None of these bailouts really solve the underlying problem. Now if all of a sudden Spain became incredibly solvent and its unemployment rate went to 5 percent, then you'd see" a reason to buy. 

Across Europe, there were other reminders that the debt crisis is far from solved. The Banking Association of Spain, a country where hundreds of thousands of borrowers have fallen behind on their mortgages, said it would curb evictions of some struggling homeowners. In Portugal, demonstrators planned protests against a scheduled visit from German Chancellor Angela Merkel. Germany helped bail out Portugal last year and insisted that the government there cut spending as a condition of getting the money, a sore point for some in Portugal. 

Among U.S. stocks making big moves: 

”” Leucadia National announced it would buy the investment banking firm Jefferies Group. Jefferies' chief will run the combined company. Leucadia, a holding company with investments in eclectic industries including beef processing and medical products, dropped 66 cents, or 3 percent, to $21.14. Jefferies soared $2, or 14 percent, to $16.27. 

”” Sherwin-Williams, the paint company, jumped 5.8 percent after announcing it will buy Consorcio Comex, a privately held rival based in Mexico City. Its stock rose $8.22 to $149.06. 

”” Best Buy leapt after announcing it had named a new finance chief, a former executive of the upscale kitchen store Williams-Sonoma. Analysts hope the new numbers cruncher can help turn around a chain that has struggled to keep up with online competitors. Best Buy's stock rose 55 cents, or 3.6 percent, to $15.85.


----------



## bigdog

Source: http://finance.yahoo.com 

U.S. stocks closed lower after uneven trading Tuesday as fears about the "fiscal cliff" and Greece tipped major indexes between gains and losses. A surge in Home Depot's stock prevented a steeper drop for the Dow Jones industrial average. 

The Dow closed down closed down 58.90 points, or 0.5 percent, at 12,756.18. It would have been lower without support from Home Depot, whose stock jumped 3.6 percent after the big-box retailer beat expectations for its fiscal third-quarter earnings. Home Depot is benefiting from the gradual housing recovery and rebuilding efforts after Superstorm Sandy. Home Depot rose $2.22 to $63.38. 

Stocks had opened lower after European leaders postponed the latest aid package for Greece. The Dow turned positive in the first hour of trading and rose solidly through the morning, gaining as much as 83 points. Starting around 2 p.m., the average slid steadily into the red. 

Other indexes also closed lower. The Standard & Poor's 500 index lost 5.50 points, or 0.4 percent, to 1,374.53. The Nasdaq composite index fell 20.37 points, or 0.7 percent, to 2,883.89. 

Investors are trading against the backdrop of the "fiscal cliff," a set of U.S. government spending cuts and tax increases that will take effect automatically at the beginning of next year unless U.S. leaders reach a compromise before then. 

Worries about the fiscal cliff pushed U.S. stocks to one of their worst weekly losses of the year last week after voters re-elected President Barack Obama and a deeply divided Congress. Obama met Tuesday with labor leaders and others who advocate higher taxes on the wealthy and want to protect health benefits for seniors and other government programs. Obama will meet with business leaders Wednesday. 

"The longer we sit and do nothing" about the nation's fiscal issues, "the more this market is going to oscillate between positive 40 and negative 60, until we know what's going to happen next with all this uncertainty," said Craig Johnson, senior technical research strategist with Piper Jaffray & Co. in Minneapolis. 

Johnson expects the S&P 500 will reach 1,550 in the next six months as investors get over their lingering wooziness from the Great Recession and companies understand better how government policy on taxes, health care and spending will affect them. 

European stocks had been lower but rose after trading opened in New York. Benchmark indexes in France, Britain and Germany closed modestly higher. 

Traders in Europe are concerned because finance ministers postponed $40 billion in desperately needed aid for Greece. The news surprised investors. A day earlier, there was word that leaders had prepared a "positive" report on Greece, making it appear likely that the aid would be released. 

 *The NYSE DOW closed  	LOWER ▼	-58.90	points or ▼	-0.46%	Tuesday, 13 November 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,756.18	▼	-58.90	▼	-0.46%	
	Nasdaq____	2,883.89	▼	-20.37	▼	-0.70%	
	S&P_500____	1,374.53	▼	-5.50	▼	-0.40%	
	30_Yr_Bond____	2.721	▼	-0.02	▼	-0.87%	

NYSE Volume	 3,427,123,250 			 		 	
Nasdaq Volume	 1,765,818,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,786.25	▲	18.98	▲	0.33%	
	DAX_____	7,169.12	▲	0.36	▲	0.01%	
	CAC_40__	3,430.60	▲	18.95	▲	0.56%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,404.20	▼	-65.70	▼	-1.47%	
	Shanghai_Comp	2,047.89	▼	-31.39	▼	-1.51%	
	Taiwan_Weight	7,136.05	▼	-131.70	▼	-1.81%	
	Nikkei_225____	8,661.05	▼	-15.39	▼	-0.18%	
	Hang_Seng____	21,188.65	▲	53.93	▼	-1.13%	
	Strait_Times___	3,007.57	▼	-1.99	▼	-0.07%	
	NZX_50_Index__	3,970.55	▼	-13.44	▼	-0.34%	

http://finance.yahoo.com/news/us-st...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*US stocks fall in uneven trading; Home Depot soars

US stocks decline in uneven trading; Greece jitters and fiscal worries keep traders on edge*

By Daniel Wagner, AP Business Writer

U.S. stocks closed lower after uneven trading Tuesday as fears about the "fiscal cliff" and Greece tipped major indexes between gains and losses. A surge in Home Depot's stock prevented a steeper drop for the Dow Jones industrial average. 

The Dow closed down closed down 58.90 points, or 0.5 percent, at 12,756.18. It would have been lower without support from Home Depot, whose stock jumped 3.6 percent after the big-box retailer beat expectations for its fiscal third-quarter earnings. Home Depot is benefiting from the gradual housing recovery and rebuilding efforts after Superstorm Sandy. Home Depot rose $2.22 to $63.38. 

Stocks had opened lower after European leaders postponed the latest aid package for Greece. The Dow turned positive in the first hour of trading and rose solidly through the morning, gaining as much as 83 points. Starting around 2 p.m., the average slid steadily into the red. 

Other indexes also closed lower. The Standard & Poor's 500 index lost 5.50 points, or 0.4 percent, to 1,374.53. The Nasdaq composite index fell 20.37 points, or 0.7 percent, to 2,883.89. 

Investors are trading against the backdrop of the "fiscal cliff," a set of U.S. government spending cuts and tax increases that will take effect automatically at the beginning of next year unless U.S. leaders reach a compromise before then. 

Worries about the fiscal cliff pushed U.S. stocks to one of their worst weekly losses of the year last week after voters re-elected President Barack Obama and a deeply divided Congress. Obama met Tuesday with labor leaders and others who advocate higher taxes on the wealthy and want to protect health benefits for seniors and other government programs. Obama will meet with business leaders Wednesday. 

"The longer we sit and do nothing" about the nation's fiscal issues, "the more this market is going to oscillate between positive 40 and negative 60, until we know what's going to happen next with all this uncertainty," said Craig Johnson, senior technical research strategist with Piper Jaffray & Co. in Minneapolis. 

Johnson expects the S&P 500 will reach 1,550 in the next six months as investors get over their lingering wooziness from the Great Recession and companies understand better how government policy on taxes, health care and spending will affect them. 

European stocks had been lower but rose after trading opened in New York. Benchmark indexes in France, Britain and Germany closed modestly higher. 

Traders in Europe are concerned because finance ministers postponed $40 billion in desperately needed aid for Greece. The news surprised investors. A day earlier, there was word that leaders had prepared a "positive" report on Greece, making it appear likely that the aid would be released. 

"It's a little bit like Groundhog Day," said Nicholas Colas, chief market strategist at ConvergEx Group, referring to the classic Bill Murray movie whose protagonist must relive the same day over and over. Until there is decisive news from Washington or Brussels, neither of which appears imminent, markets will remain vulnerable to short-term swings caused by headlines, Colas said. 

The next major catalysts for a market move, Colas said, will be gauges of spending by consumers on Black Friday, the traditional shopping rush on the day after Thanksgiving. 

Greece's neighbors decided to give the country two more years to meet its economic targets. They still disagree with the International Monetary Fund, another key lender, over how to manage the country's debt over the long term. Until lenders reach an accord, they can't release the billions that Greece needs to make upcoming payments. 

IMF managing director Christine Lagarde said Greece should reduce its debt burden down to 120 percent of its economic output by 2020, the original target of 2020. But Jean-Claude Juncker, leader of the euro zone's finance ministers, said that the deadline would likely be changed to 2022. The lenders will meet again on Nov. 20. 

The yield on the 10-year Treasury note slid to 1.59 percent from 1.64 percent late Friday as demand increased for ultra-safe investments. The U.S. bond market was closed on Monday in observance of the Veterans Day holiday. 

Among stocks making big moves: 

Microsoft plunged 3 percent after it announced the departure of Steven Sinofsky, who ran its Windows division. The unexpected move comes just weeks after Microsoft launched Windows 8, its first major overhaul in years of the operating system used on most of the world's computers. Microsoft fell 90 cents to $27.09. 

Weatherford International dropped 15.9 percent after the oilfield services company reported revenue that was lower than analysts had been expecting. The company did not report full results because of accounting problems that have led it to revise its results from numerous periods. The stock fell $1.73 to $9.15. 

Apparel chain operator TJX Cos., the parent of TJ Maxx and Marshalls, rose 2.7 percent after raising its full-year earnings forecast and reporting third-quarter revenue that exceeded analysts' expectations. The stock added $1.09 to $42.06.


----------



## bigdog

Source: http://finance.yahoo.com 

Investors drew little hope Wednesday for a quick compromise in U.S. budget talks after President Barack Obama insisted that higher taxes on wealthy Americans would have to be part of any deal. 

Stocks fell sharply, and even a signal from the Federal Reserve that it could launch a program in December to speed job growth failed to encourage investors. The Dow Jones industrial average dropped 185 points. 

Obama made clear he would seek higher tax revenue from the wealthiest Americans, which faces opposition among some Republicans in Congress. Obama said that a modest increase on the wealthy "is not going to break their backs." 

"The Street was looking for him to say some magic buzzwords about avoiding the 'fiscal cliff,' about cooperation," said Sal Arnuk of Themis trading, a New Jersey brokerage. Instead, Arnuk said, the remarks were "unyielding." 

The "cliff" is a package of tax increases and government spending cuts that will take effect Jan. 1 unless Obama and Congress reach a deal first. They would total about $700 billion for 2013 and could send the country back into recession. 

Stocks have fallen steadily since voters returned Obama and a divided Congress to power Nov. 6. The Dow has fallen 675 points, or 5.1 percent, including three daily drops of more than 100 points. 

The Standard & Poor's 500 index has dropped 5 percent in that time, returning to where it stood in late July. 

"Investors' hopes that the election would end uncertainty remain unfulfilled," said Lawrence Creatura, a portfolio manager at Federated Investors in Rochester, N.Y. "It's very tough to determine what happens next." 

Obama said Wednesday that he would not to cave to Republicans who have pressed for tax cuts first passed by President George W. Bush to be extended for all income earners. 

Obama has long opposed extending the cuts for families making more than $250,000 a year, but he gave in to GOP demands in 2010, when the cuts were up for renewal. They were extended two years. 

The president also met with business leaders Wednesday to discuss the economy. 

 *The NYSE DOW closed  	LOWER ▼	-185.23	points or ▼	-1.45%	Wednesday, 14 November 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,570.95	▼	-185.23	▼	-1.45%	
	Nasdaq____	2,846.81	▼	-37.08	▼	-1.29%	
	S&P_500____	1,355.49	▼	-19.04	▼	-1.39%	
	30_Yr_Bond____	2.728	▲	0.01	▲	0.26%	

NYSE Volume	 4,103,520,750 			 		 	
Nasdaq Volume	 2,127,126,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,722.01	▼	-64.24	▼	-1.11%	
	DAX_____	7,101.92	▼	-67.20	▼	-0.94%	
	CAC_40__	3,400.02	▼	-30.58	▼	-0.89%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,410.70	▲	6.50	▲	0.15%	
	Shanghai_Comp	2,055.42	▲	7.53	▲	0.37%	
	Taiwan_Weight	7,159.75	▲	23.70	▲	0.33%	
	Nikkei_225____	8,664.73	▲	3.68	▲	0.04%	
	Hang_Seng____	21,441.99	▲	53.93	▲	1.20%	
	Strait_Times___	2,978.03	▼	-29.54	▼	-0.98%	
	NZX_50_Index__	3,955.56	▼	-14.99	▼	-0.38%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks slide as impasse over budget deficit looms

Stocks sink on Wall Street as investors fret over a looming impasse over US budget*

By Steve Rothwell, AP Business Writer 

Investors drew little hope Wednesday for a quick compromise in U.S. budget talks after President Barack Obama insisted that higher taxes on wealthy Americans would have to be part of any deal. 

Stocks fell sharply, and even a signal from the Federal Reserve that it could launch a program in December to speed job growth failed to encourage investors. The Dow Jones industrial average dropped 185 points. 

Obama made clear he would seek higher tax revenue from the wealthiest Americans, which faces opposition among some Republicans in Congress. Obama said that a modest increase on the wealthy "is not going to break their backs." 

"The Street was looking for him to say some magic buzzwords about avoiding the 'fiscal cliff,' about cooperation," said Sal Arnuk of Themis trading, a New Jersey brokerage. Instead, Arnuk said, the remarks were "unyielding." 

The "cliff" is a package of tax increases and government spending cuts that will take effect Jan. 1 unless Obama and Congress reach a deal first. They would total about $700 billion for 2013 and could send the country back into recession. 

Stocks have fallen steadily since voters returned Obama and a divided Congress to power Nov. 6. The Dow has fallen 675 points, or 5.1 percent, including three daily drops of more than 100 points. 

The Standard & Poor's 500 index has dropped 5 percent in that time, returning to where it stood in late July. 

"Investors' hopes that the election would end uncertainty remain unfulfilled," said Lawrence Creatura, a portfolio manager at Federated Investors in Rochester, N.Y. "It's very tough to determine what happens next." 

Obama said Wednesday that he would not to cave to Republicans who have pressed for tax cuts first passed by President George W. Bush to be extended for all income earners. 

Obama has long opposed extending the cuts for families making more than $250,000 a year, but he gave in to GOP demands in 2010, when the cuts were up for renewal. They were extended two years. 

The president also met with business leaders Wednesday to discuss the economy. 

Obama is to meet Friday with Republican House Speaker John Boehner and the top Republican in the Senate, Mitch McConnell. They are expected to designate aides to begin the search for a compromise on the budget. 

Boehner and McConnell have said they won't agree to raise tax rates for the wealthy. They have said they are willing to support raising overall tax revenue as part of a deal that also makes changes to the government's largest benefit programs. 

There are ways to increase tax revenue from the wealthy without raising rates, including limiting tax deductions, but the path to compromise is unclear. Obama sidestepped a question about insisting on higher rates for the wealthy. 

"I just want to emphasize I am open to new ideas if the Republican counterparts or some Democrats have a great idea for us to raise revenue, maintain progressivity, make sure the middle class isn't getting hit, reduces our deficit," he said. 

On Wednesday, the Dow dropped 185.23 points, or 1.5 percent, to 12,570.95. The S&P fell 19.04 points, or 1.4 percent, to 1,355.49, and the Nasdaq composite declined 37.08 points, or 1.29 percent, to 2,846.81. 

Indexes are still up on the year, though they have pared gains since reaching four-year highs. The S&P has fallen 7.5 percent since its Sept. 14 peak, and the Dow has fallen 7.6 percent, more than 1,000 points, since its Oct. 5 peak. 

Among individual stocks, Abercrombie & Fitch, which sells teen clothes, bucked the trend of a declining market and was by far the best-performing stock in the S&P 500. 

Abercrombie jumped $10.54 to $41.92 after reporting that its international business was thriving and that its net income soared 40 percent in the most recent quarter, more than financial analysts were expecting. 

The Commerce Department said that Americans cut back on spending in October, suggesting that many are still cautious about the economy. 

Sales dropped 0.3 percent last month after three months of gains. That was worse than analysts had been expecting, according to FactSet, a provider of financial data. 

The government also said auto sales fell 1.5 percent, the most in more than a year. Sales may have been hurt by Superstorm Sandy. 

The Federal Reserve released minutes of its October meeting and suggested that it may replace a soon-to-end program of buying U.S. government bonds to lower long-term interest rates and spur job growth. 

Under an existing program, known as Operation Twist, the Fed has been selling $45 billion a month in short-term Treasurys and using the proceeds to buy an equal amount of longer-term securities. 

The Fed minutes showed support among "a number of" Fed policymakers to replace Twist with another program of long-term bond purchases when it ends in December. 

The purchases are intended to lower long-term borrowing rates to encourage spending and strengthen the economy. The hope is that more hiring would follow. The yield on the 10-year Treasury note was unchanged at 1.59 percent. 

Among other stocks making big moves: 

”” Cisco Systems, the world's largest maker of computer networking equipment, gained 81 cents, or 4.8 percent, to $17.66. Cisco said late Tuesday that its earnings rose 18 percent in the latest quarter and that U.S. companies are starting to spend again. 

”” Mosaic, a company that mines for potash, a key ingredient in fertilizers, slipped $1.65, or 3.3 percent, to $49.10 after saying that international demand for its product had weakened and that it was lowering its sales forecasts. 

”” Advanced Micro Devices, a chipmaker, slumped 16 cents, or 7.7 percent, to $1.93 after the company denied a report that said it was considering a sale. The stock has lost about 77 percent since March because of dwindling sales. 

”” Facebook jumped $2.50, or 12.6 percent, to $22.36. Wednesday was the expiration of a so-called lockup period that prevents insiders from selling stock immediately after a company goes public. About 850 million shares are being freed for sale.


----------



## bigdog

Source: http://finance.yahoo.com 

Stock indexes closed lower Thursday, a third straight decline, after U.S. retailers issued weak forecasts for earnings and more people filed claims for unemployment benefits. 

Wal-Mart, Ross Stores and Limited Brands, the owner of Victoria's Secret, all fell after issuing forecasts that disappointed financial analysts. Wal-Mart fell $2.59, or 3.6 percent, to $68.72. 

The Dow Jones industrial average wavered between small gains and losses shortly after the opening bell, then moved lower at midmorning. It closed down 28.57 points at 12,542.38. 

The Standard & Poor's 500 index dropped 2.16 points to 1,353.33 and the Nasdaq composite finished 9.87 points lower at 2,836.94. 

Stocks have fallen steadily since voters returned President Barack Obama and a divided Congress to power. The Dow has lost 5 percent from Election Day, Nov. 6. 

Investors are worried that U.S. leaders may not reach a deal before tax increases and government spending cuts take effect Jan. 1. The impact would total $700 billion for 2013 and could send the country back into recession. 

Bill Stone, chief investment strategist at PNC Asset Management Group in Philadelphia, said the bargaining in Washington would likely drag on until next year, weighing on stocks. "It's hard to see the market getting a whole ton of traction until that gets settled." 

President Obama will meet with congressional leaders Friday to talk about the budget, but he appeared to suggest Thursday that he would insist on an increase in tax rates for the wealthy. 

T. Dale, a portfolio manager at Security Ballew Wealth Management in Jackson, Miss., said that stocks are more likely to fall than rise, partly because of slowing global economic growth and the U.S. budget impasse. 

"The market has gotten well ahead of itself," Dale said. 

Superstorm Sandy drove the number of people seeking unemployment benefits up to 439,000 last week, the Labor Department reported. Applications for benefits rose 78,000, mostly because a large number were filed in storm-damaged states. 

The European Union's statistics agency confirmed that the euro zone, the group of 17 countries that use the euro currency, is in recession. The economy in the region shrank 0.1 percent in the third quarter from the previous three-month period. 

 *The NYSE DOW closed  	LOWER ▼	-28.57	points or ▼	-0.23%	Thursday, 15 November 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,542.38	▼	-28.57	▼	-0.23%	
	Nasdaq____	2,836.94	▼	-9.87	▼	-0.35%	
	S&P_500____	1,353.33	▼	-2.16	▼	-0.16%	
	30_Yr_Bond____	2.724	▼	0.00	▼	-0.15%	

NYSE Volume	 3,894,035,750 			 		 	
Nasdaq Volume	 2,018,847,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,677.75	▼	-44.26	▼	-0.77%	
	DAX_____	7,043.42	▼	-58.50	▼	-0.82%	
	CAC_40__	3,382.40	▼	-17.62	▼	-0.52%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,370.60	▼	-40.10	▼	-0.91%	
	Shanghai_Comp	2,030.29	▼	-25.13	▼	-1.22%	
	Taiwan_Weight	7,143.84	▼	-15.91	▼	-0.22%	
	Nikkei_225____	8,829.72	▲	164.99	▲	1.90%	
	Hang_Seng____	21,108.93	▲	53.93	▼	-1.55%	
	Strait_Times___	2,942.77	▼	-35.26	▼	-1.18%	
	NZX_50_Index__	3,951.50	▼	-4.06	▼	-0.10%	

http://finance.yahoo.com/news/stocks-close-lower-weak-retail-213031526.html

*Stocks close lower after weak retail reports

Stocks end lower as Wal-Mart, Ross and Limited Brands report mixed earnings; weak jobs report*

By Steve Rothwell, AP Business Writer 

Stock indexes closed lower Thursday, a third straight decline, after U.S. retailers issued weak forecasts for earnings and more people filed claims for unemployment benefits. 

Wal-Mart, Ross Stores and Limited Brands, the owner of Victoria's Secret, all fell after issuing forecasts that disappointed financial analysts. Wal-Mart fell $2.59, or 3.6 percent, to $68.72. 

The Dow Jones industrial average wavered between small gains and losses shortly after the opening bell, then moved lower at midmorning. It closed down 28.57 points at 12,542.38. 

The Standard & Poor's 500 index dropped 2.16 points to 1,353.33 and the Nasdaq composite finished 9.87 points lower at 2,836.94. 

Stocks have fallen steadily since voters returned President Barack Obama and a divided Congress to power. The Dow has lost 5 percent from Election Day, Nov. 6. 

Investors are worried that U.S. leaders may not reach a deal before tax increases and government spending cuts take effect Jan. 1. The impact would total $700 billion for 2013 and could send the country back into recession. 

Bill Stone, chief investment strategist at PNC Asset Management Group in Philadelphia, said the bargaining in Washington would likely drag on until next year, weighing on stocks. "It's hard to see the market getting a whole ton of traction until that gets settled." 

President Obama will meet with congressional leaders Friday to talk about the budget, but he appeared to suggest Thursday that he would insist on an increase in tax rates for the wealthy. 

T. Dale, a portfolio manager at Security Ballew Wealth Management in Jackson, Miss., said that stocks are more likely to fall than rise, partly because of slowing global economic growth and the U.S. budget impasse. 

"The market has gotten well ahead of itself," Dale said. 

Superstorm Sandy drove the number of people seeking unemployment benefits up to 439,000 last week, the Labor Department reported. Applications for benefits rose 78,000, mostly because a large number were filed in storm-damaged states. 

The European Union's statistics agency confirmed that the euro zone, the group of 17 countries that use the euro currency, is in recession. The economy in the region shrank 0.1 percent in the third quarter from the previous three-month period. 

Among the retailers disappointing Wall Street with lower earnings forecasts, Ross Stores, whose stores includes Ross Dress for Less, fell 70 cents, or 1.3 percent, to $54.44. Limited Brands dropped $1.10, or 2.4 percent, to $45.50. 

The yield on the 10-year Treasury note was little changed at 1.59 percent. 

Among stocks making big moves: 

”” NetApp, a data storage business, jumped $3.08, or 11.3 percent, to $30.20 after the company reported earnings that were higher than analysts were expecting. 

”” Viacom, the owner of Nickelodeon, MTV and the Paramount movie and TV studio, rose $1.24, or 2.6 percent, to $49.23. The media conglomerate did better than investors had expected thanks to lower costs and higher fees from cable and satellite companies for carrying its cable networks. 

”” Petsmart, a specialty pet retailer, jumped $2.63, or 4.1 percent, to $67.48 after raising its full-year outlook. 

”” Target rose $1.06, or 1.7 percent, to $62.44 after reporting that its profit rose more than analysts had forecast. The company also issued a strong outlook heading into the critical holiday season. 

”” Dollar Tree, a discount retailer that sells items for $1 or less, gained $1.94, or 5.1 percent, to $39.70 after the company said its net income rose 49 percent in the third quarter. 

”” Apple's market value fell below $500 million for the first time since May, as the maker of smartphones and tablets dropped $11.26, or 2.1 percent, to $525.62. The company's market value climbed as high as $658 million Sept. 19, according to FactSet data.


----------



## bigdog

Source: http://finance.yahoo.com 

Optimism that President Barack Obama and Congressional leaders will reach a deal on the budget deficit and avoid the "fiscal cliff" helped stocks notch their first advance in four days. 

The market started lower Friday but spiked higher shortly before midday as the top members of the House and Senate spoke at the White House following a closed-door session with Obama. House Speaker John Boehner and Senate Minority Leader Mitch McConnell both said they offered higher tax revenue as part of a deal. Boehner said he outlined a framework that is consistent with Obama's call for a "balanced" approach of both higher revenue and spending cuts. 

"It's a good start ... the fact that they were all standing together," said Ben Schwartz, the chief market strategist at Lightspeed Financial, a New York-based broker. 

The Dow Jones industrial average closed up 45.93 points, or 0.4 percent, at 12,588.31, after falling as much as 71 points at mid-morning. The Standard & Poor's 500 index rose 6.55 points, or 0.5 percent, to 1,359.88 and the Nasdaq rose 16.19 points, or 0.6 percent to 2,853.13. 

Investor concern that Obama and Congress won't reach a deal on how to cut the deficit has caused a sell-off in stocks since Election Day. Stocks fell Wednesday after Obama insisted that higher taxes on wealthy Americans would have to be part of any deal and that he would not cave to Republicans who have pressed for tax cuts first passed by President George W. Bush to be extended for all income earners. 

The Dow is down 5 percent since Nov. 6. If an agreement isn't made, automatic government spending cuts and tax increases are set to kick in at the beginning of next year. The measures total about $700 billion for 2013 and could send the country back into recession. 

Mitch Stapley, chief investment officer at Fifth Third Asset Management, says that investors and traders are likely to be in for a rough ride until the politicians have brokered a deal. 

"Volatility is going to be the hallmark as we go through this process ... It's going to be a very choppy period coming up," said Stapley, who is based in Grand Rapids, Mich. 

The Dow still ended lower for the week, logging a fourth straight weekly decline. That slump has pared the index's gains for the year to 3 percent. The S&P 500 also ended the week lower, and has fallen three of the last four weeks. 

Mixed earnings reports also weighed on stocks. 

 *The NYSE DOW closed  	HIGHER ▲	45.93	points or ▲	0.37%	Friday, 16 November 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,588.31	▲	45.93	▲	0.37%	
	Nasdaq____	2,853.13	▲	16.19	▲	0.57%	
	S&P_500____	1,359.88	▲	6.55	▲	0.48%	
	30_Yr_Bond____	2.722	▼	0.00	▼	-0.07%	

NYSE Volume	 3,991,566,750 			 		 	
Nasdaq Volume	 2,191,482,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,605.59	▼	-72.16	▼	-1.27%	
	DAX_____	6,950.53	▼	-92.89	▼	-1.32%	
	CAC_40__	3,341.52	▼	-40.88	▼	-1.21%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,360.10	▼	-10.50	▼	-0.24%	
	Shanghai_Comp	2,014.72	▼	-15.57	▼	-0.77%	
	Taiwan_Weight	7,130.07	▼	-13.77	▼	-0.19%	
	Nikkei_225____	9,024.16	▲	194.44	▲	2.20%	
	Hang_Seng____	21,159.01	▲	53.93	▲	0.24%	
	Strait_Times___	2,945.63	▼	-0.29	▼	-0.01%	
	NZX_50_Index__	3,947.84	▼	-3.66	▼	-0.09%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks finish higher on optimism over budget talks

Stock market end higher for the first day in four on optimism that budget deal will be reached*

By Steve Rothwell, AP Business Writer 

Optimism that President Barack Obama and Congressional leaders will reach a deal on the budget deficit and avoid the "fiscal cliff" helped stocks notch their first advance in four days. 

The market started lower Friday but spiked higher shortly before midday as the top members of the House and Senate spoke at the White House following a closed-door session with Obama. House Speaker John Boehner and Senate Minority Leader Mitch McConnell both said they offered higher tax revenue as part of a deal. Boehner said he outlined a framework that is consistent with Obama's call for a "balanced" approach of both higher revenue and spending cuts. 

"It's a good start ... the fact that they were all standing together," said Ben Schwartz, the chief market strategist at Lightspeed Financial, a New York-based broker. 

The Dow Jones industrial average closed up 45.93 points, or 0.4 percent, at 12,588.31, after falling as much as 71 points at mid-morning. The Standard & Poor's 500 index rose 6.55 points, or 0.5 percent, to 1,359.88 and the Nasdaq rose 16.19 points, or 0.6 percent to 2,853.13. 

Investor concern that Obama and Congress won't reach a deal on how to cut the deficit has caused a sell-off in stocks since Election Day. Stocks fell Wednesday after Obama insisted that higher taxes on wealthy Americans would have to be part of any deal and that he would not cave to Republicans who have pressed for tax cuts first passed by President George W. Bush to be extended for all income earners. 

The Dow is down 5 percent since Nov. 6. If an agreement isn't made, automatic government spending cuts and tax increases are set to kick in at the beginning of next year. The measures total about $700 billion for 2013 and could send the country back into recession. 

Mitch Stapley, chief investment officer at Fifth Third Asset Management, says that investors and traders are likely to be in for a rough ride until the politicians have brokered a deal. 

"Volatility is going to be the hallmark as we go through this process ... It's going to be a very choppy period coming up," said Stapley, who is based in Grand Rapids, Mich. 

The Dow still ended lower for the week, logging a fourth straight weekly decline. That slump has pared the index's gains for the year to 3 percent. The S&P 500 also ended the week lower, and has fallen three of the last four weeks. 

Mixed earnings reports also weighed on stocks. 

Dell fell 70 cents, 7.3 percent, to $8.86. The computer maker is struggling as consumers switch to tablets and smartphones away from PCs. Dell said that its revenue may fall as much as 13 percent in the fourth quarter. Sears fell $10.99, or 19 percent, to $47.49 after the retailer said sales at both its Kmart and Sears stores continued to tumble. 

Superstorm Sandy depressed U.S. industrial output in October, while production of machinery and equipment declined sharply, reflecting a more cautious outlook among businesses, according to a Federal Reserve report. 

The Fed says industrial output fell 0.4 percent last month, after a 0.2 percent gain in September. Excluding the storm's impact, production at the nation's factories, mines and utilities would have been up about 0.6 percent. 

The yield on the benchmark 10-year Treasury note edged down to 1.58 percent from 1.59 percent late Thursday. 

Among stocks making big moves: 

””Schiff Nutrition International, a nutritional supplement company, jumped $9.84, or 29 percent, to $43.76 after U.K.-based Reckitt Benckiser Group offered to pay $42 a share in cash to buy the company. German pharma giant Bayer had offered to buy Schiff in October for $34 a share. Schiff's stock is trading above the most recent offer, suggesting investors anticipate a bidding war may develop. 

”” Ruckus Wireless Inc., a maker of wireless networking equipment, dropped $2.75 to $13.73 on its first day of trading. That's a decline of 18 percent. 

””Foot Locker rose $1.42, or 4.5 percent, to $33.27. Its net income rose 61 percent in the third quarter.

6268


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market finally shook its post-election slump. 

Investors seized on hope that Washington will reach a deal on the federal budget and drove stocks to their biggest gain in two months. A pair of strong corporate earnings reports also helped. 

The Dow Jones industrial average closed up 207 points, or 1.7 percent. Since President Barack Obama and a divided Congress were returned to power Nov. 6, the Dow had fallen six out of eight days and slid a total of 650 points. 

Obama and congressional leaders are in talks to avoid going over a "fiscal cliff" on Jan. 1, when tax increases and mandatory government spending cuts are set to take effect. 

While Obama and Republicans appear at odds on whether tax rates for the wealthiest Americans should rise, lawmakers suggested over the weekend that progress is possible. 

"I can tell you that the fiscal cliff is focusing the mind," said Illinois Sen. Richard Durbin, a Democrat, said on CNN's "State of the Union." He said he had heard from Republicans "the beginning of a negotiation." 

Comments like those comforted investors, who are grasping for signs that the negotiations might go somewhere. 

"It is quite clear that both sides want to come to a compromise and that a reasonable compromise is available," David Kelly, chief global strategist for J.P. Morgan Funds, wrote in a note to clients. 

Other financial analysts noted that there have been few substantive developments to drive the market's swings, and suggested the market's surge will be short-lived. 

"I don't think anything has changed. It's just the talk from day to day," said Stephen Carl, principal and head equity trader at The Williams Capital Group, an investment bank. "We'll see what happens tomorrow." 

This week's market will be tougher to decipher, Carl said, because volume is increasingly light leading up to the Thanksgiving holiday. Big price swings are more likely when there are fewer buyers and sellers in the market. 

The Dow finished up 207.65 points at 12,795.96. The Standard & Poor's 500 index rose 27.01 points, or 2 percent, to 1,386.89. The Nasdaq composite average gained 62.94, or 2.2 percent, to 2,916.07. 

The S&P 500 and Nasdaq were lifted by Apple, which had its biggest one-day gain since April. It rose $38.05, or 7.2 percent, to $565.73. Some analysts cast doubt on a sell-off that had pushed the stock down more than 20 percent from its recent peak. 

Corporate earnings reports also boosted the indexes. Lowe's said its third-quarter profit surged 76 percent. That followed a strong report from Home Depot last week. Lowe's rose $1.98, or 6.2 percent, to $33.96. 

 *The NYSE DOW closed  	HIGHER ▲	207.65	points or ▲	1.65%	Monday, 19 November 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,795.96	▲	207.65	▲	1.65%	
	Nasdaq____	2,916.07	▲	62.94	▲	2.21%	
	S&P_500____	1,386.89	▲	27.01	▲	1.99%	
	30_Yr_Bond____	2.762	▲	0.04	▲	1.47%	

NYSE Volume	 3,333,746,250 			 		 	
Nasdaq Volume	 1,767,287,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,737.66	▲	59.91	▲	1.06%	
	DAX_____	7,123.84	▲	80.42	▲	1.14%	
	CAC_40__	3,439.58	▲	57.18	▲	1.69%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,382.60	▲	22.50	▲	0.52%	
	Shanghai_Comp	2,016.98	▲	2.26	▲	0.11%	
	Taiwan_Weight	7,129.04	▼	-1.03	▼	-0.01%	
	Nikkei_225____	9,153.20	▲	129.04	▲	1.43%	
	Hang_Seng____	21,262.06	▲	53.93	▲	0.49%	
	Strait_Times___	2,950.93	▲	5.30	▲	0.18%	
	NZX_50_Index__	3,942.61	▼	-5.23	▼	-0.13%	

http://finance.yahoo.com/news/us-st...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*US stocks rise on hopes for budget deal, Europe

US stocks rise as traders see progress toward avoiding fiscal calamity; hope for Greece risesThe stock market finally shook its post-election slump. *

By Daniel Wagner, AP Business Writer

Investors seized on hope that Washington will reach a deal on the federal budget and drove stocks to their biggest gain in two months. A pair of strong corporate earnings reports also helped. 

The Dow Jones industrial average closed up 207 points, or 1.7 percent. Since President Barack Obama and a divided Congress were returned to power Nov. 6, the Dow had fallen six out of eight days and slid a total of 650 points. 

Obama and congressional leaders are in talks to avoid going over a "fiscal cliff" on Jan. 1, when tax increases and mandatory government spending cuts are set to take effect. 

While Obama and Republicans appear at odds on whether tax rates for the wealthiest Americans should rise, lawmakers suggested over the weekend that progress is possible. 

"I can tell you that the fiscal cliff is focusing the mind," said Illinois Sen. Richard Durbin, a Democrat, said on CNN's "State of the Union." He said he had heard from Republicans "the beginning of a negotiation." 

Comments like those comforted investors, who are grasping for signs that the negotiations might go somewhere. 

"It is quite clear that both sides want to come to a compromise and that a reasonable compromise is available," David Kelly, chief global strategist for J.P. Morgan Funds, wrote in a note to clients. 

Other financial analysts noted that there have been few substantive developments to drive the market's swings, and suggested the market's surge will be short-lived. 

"I don't think anything has changed. It's just the talk from day to day," said Stephen Carl, principal and head equity trader at The Williams Capital Group, an investment bank. "We'll see what happens tomorrow." 

This week's market will be tougher to decipher, Carl said, because volume is increasingly light leading up to the Thanksgiving holiday. Big price swings are more likely when there are fewer buyers and sellers in the market. 

The Dow finished up 207.65 points at 12,795.96. The Standard & Poor's 500 index rose 27.01 points, or 2 percent, to 1,386.89. The Nasdaq composite average gained 62.94, or 2.2 percent, to 2,916.07. 

The S&P 500 and Nasdaq were lifted by Apple, which had its biggest one-day gain since April. It rose $38.05, or 7.2 percent, to $565.73. Some analysts cast doubt on a sell-off that had pushed the stock down more than 20 percent from its recent peak. 

Corporate earnings reports also boosted the indexes. Lowe's said its third-quarter profit surged 76 percent. That followed a strong report from Home Depot last week. Lowe's rose $1.98, or 6.2 percent, to $33.96. 

Tyson Foods, the country's biggest meat company, beat analysts' expectations for its quarterly earnings. Tyson added $1.84, or 10.9 percent, to $18.72. 

Materials stocks, a category that includes foresting companies, metal producers and miners, soared, supported by the latest sign that a recovery in the housing market has stabilized. 

The National Association of Realtors said sales of previously occupied homes in the U.S. rose in October, helped by a stronger job market and record-low mortgage rates. The pace of sales is roughly 11 percent higher than a year ago. 

Stocks fell in each of the past four weeks as traders fretted about the possibility that lawmakers will fail to prevent the spending cuts and tax increases from taking effect. 

Economists have warned that the hit to the economy could total $700 billion for 2013 and push the United States back into recession, although the damage from the "cliff" would come slowly, and lawmakers could always reach a deal after Jan. 1. 

The indexes turned positive Friday afternoon, breaking a four-day slump, amid signs that Obama and Republicans in Congress were prepared to cede long-held bargaining positions. 

House Speaker John Boehner and Senate Minority Leader Mitch McConnell said they had offered higher tax revenue as part of a deal. That could include limiting tax deductions for the highest earners. 

Monday's gain for the Dow was its biggest since Sept. 13. 

The S&P 500, meanwhile, is trading near a key technical level, said Randy Frederick, managing director of active trading and derivatives at the brokerage Charles Schwab. 

For nearly two weeks, the index has closed below its 200-day average, which on Monday stood at 1,382. It surpassed that marker Monday afternoon. Frederick said that might signal more buying. 

Technical levels are historic averages and other indicators used by some traders to decide if stocks are a good value. 

The market is closed on Thursday for Thanksgiving and will close early Friday. 

On Monday, stock indexes in France, Germany and Britain closed up 2.5 percent or more as traders monitored Greece's quest for its latest round of bailout cash. 

Greece needs international lenders and the International Monetary Fund to release the money so that Greece can meet upcoming payments to creditors. Trading in Europe is still volatile. The region has entered recession. 

Finance ministers from nations that use the euro will meet Tuesday. Later in the week, leaders will convene to discuss the European Union's budget for the next few years. 

Traders also followed developments in the Middle East as conflict flared between Israel and Hamas. Concerns about instability in the region and hopes for a U.S. fiscal pact pushed benchmark crude up $2.36, or 2.7 percent, to finish at $89.28 per barrel in New York. 

Earlier, Asian markets rose more modestly. 

The yield on the benchmark 10-year Treasury note rose to 1.61 percent from 1.58 percent late Friday, a sign that traders are selling low-risk investments. A bond's yield rises as its price falls. 

The market's longer-term direction will likely hinge on U.S. leaders' ability to attack the fiscal challenge between Thanksgiving and Christmas, Frederick said. 

"If they can put some sort of a plan together, or make us believe they have a plan, or at least that there's some cooperation going on there, that could be a real boost for the market," he said. 

Among big companies making news, Intel fell after its CEO of 40 years announced that he will retire in May. The stock rose 6 cents to $20.25. 

Diamond Foods hit its lowest price since September 2006 after an analyst cut the snack food company's rating and price target. Diamond restated two years' worth of financial results last Wednesday, effectively wiping away $56.5 million in profit from its books. Diamond fell $1.79, or 11.8 percent, to $13.34. 

Advanced Micro Devices Inc. rose after an analyst said that the stock could see an "early 2013 bounce." He said investor concerns about the company's solvency were overblown and caused traders to oversell. AMD rose 6 cents, or 3.2 percent, to $1.92.


----------



## bigdog

Source: http://finance.yahoo.com 

Falling oil prices and a surprise announcement from Hewlett-Packard weighed on technology and energy stocks Tuesday. 

HP plunged 12 percent after executives said that a company HP bought for $10 billion last year lied about its finances. CEO Meg Whitman said that there were "serious accounting improprieties" at the search-engine company, Autonomy. 

To account for it, HP took an $8.8 billion charge in its latest quarter. HP's stock lost $1.59 to $11.71. 

A warning from the Federal Reserve chairman, Ben Bernanke, about the dangers of the "fiscal cliff" also weighed on the market in afternoon trading. The Dow Jones industrial average dropped as much as 94 points shortly after Bernanke spoke. 

But the stock market crept higher through the late afternoon and ended the day flat. The Dow dropped 7.45 points to close at 12,788.51. The Standard & Poor's 500 index gained 0.92 point to 1,387.81. 

On Monday, the Dow soared 207 points as investors focused on prospects for a deal between the White House and congressional Republicans to avoid the cliff, tax increases and government spending cuts set to take effect Jan. 1. 

In a speech to the Economic Club of New York on Tuesday, Bernanke urged Congress to take action. Asked in a Q&A session whether the Fed could limit the economic hit posed by the budget-tightening measures, Bernanke said: "If the economy goes off the broad fiscal cliff, I don't think the Fed has the tools to offset that." 

Many investors expect financial markets to turn turbulent when Congress returns from its Thanksgiving recess and begins bargaining with the White House to avoid the fiscal cliff. 

John Linahan, head of T. Rowe Price's U.S. equity group, said that if those negotiations stretch into late December, the stock market could resemble the wild trading of August 2011, when markets flipped from big gains one day to steep losses the next. 

Energy stocks and the price of crude oil fell after the president of Egypt predicted that Israel's weeklong offensive in the Gaza Strip would end in hours and the Israeli prime minister said Israel would be a "willing partner" to a cease-fire. 

 *The NYSE DOW closed  	LOWER ▼	-7.45	points or ▼	-0.06%	Tuesday, 20 November 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,788.51	▼	-7.45	▼	-0.06%	
	Nasdaq____	2,916.68	▲	0.61	▲	0.02%	
	S&P_500____	1,387.81	▲	0.92	▲	0.07%	
	30_Yr_Bond____	2.809	▲	0.05	▲	1.70%	

NYSE Volume	 3,210,412,750 			 		 	
Nasdaq Volume	 1,592,171,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,748.10	▲	10.44	▲	0.18%	
	DAX_____	7,172.99	▲	49.15	▲	0.69%	
	CAC_40__	3,462.06	▲	22.48	▲	0.65%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,407.50	▲	24.90	▲	0.57%	
	Shanghai_Comp	2,008.92	▼	-8.06	▼	-0.40%	
	Taiwan_Weight	7,145.77	▲	16.73	▲	0.23%	
	Nikkei_225____	9,142.64	▼	-10.56	▼	-0.12%	
	Hang_Seng____	21,228.28	▲	53.93	▼	-0.16%	
	Strait_Times___	2,958.41	▲	7.48	▲	0.25%	
	NZX_50_Index__	3,972.97	▲	30.37	▲	0.77%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks end flat after HP shocker and Fed warning

Stocks finish flat despite HP surprise and a warning from Fed chief* 

Associated Press 

Falling oil prices and a surprise announcement from Hewlett-Packard weighed on technology and energy stocks Tuesday. 

HP plunged 12 percent after executives said that a company HP bought for $10 billion last year lied about its finances. CEO Meg Whitman said that there were "serious accounting improprieties" at the search-engine company, Autonomy. 

To account for it, HP took an $8.8 billion charge in its latest quarter. HP's stock lost $1.59 to $11.71. 

A warning from the Federal Reserve chairman, Ben Bernanke, about the dangers of the "fiscal cliff" also weighed on the market in afternoon trading. The Dow Jones industrial average dropped as much as 94 points shortly after Bernanke spoke. 

But the stock market crept higher through the late afternoon and ended the day flat. The Dow dropped 7.45 points to close at 12,788.51. The Standard & Poor's 500 index gained 0.92 point to 1,387.81. 

On Monday, the Dow soared 207 points as investors focused on prospects for a deal between the White House and congressional Republicans to avoid the cliff, tax increases and government spending cuts set to take effect Jan. 1. 

In a speech to the Economic Club of New York on Tuesday, Bernanke urged Congress to take action. Asked in a Q&A session whether the Fed could limit the economic hit posed by the budget-tightening measures, Bernanke said: "If the economy goes off the broad fiscal cliff, I don't think the Fed has the tools to offset that." 

Many investors expect financial markets to turn turbulent when Congress returns from its Thanksgiving recess and begins bargaining with the White House to avoid the fiscal cliff. 

John Linahan, head of T. Rowe Price's U.S. equity group, said that if those negotiations stretch into late December, the stock market could resemble the wild trading of August 2011, when markets flipped from big gains one day to steep losses the next. 

Energy stocks and the price of crude oil fell after the president of Egypt predicted that Israel's weeklong offensive in the Gaza Strip would end in hours and the Israeli prime minister said Israel would be a "willing partner" to a cease-fire. 

Crude oil was down $2.53, or 2.8 percent, to $86.75 per barrel. It traded above $89 earlier in the day. Energy stocks in the S&P slipped 0.4 percent as a group. Tech stocks fared the worst, losing 0.6 percent. 

The Nasdaq composite index gained 0.61 of a point to 2,916.68. The yield on the benchmark 10-year U.S. Treasury note rose to 1.66 percent. 

Among stocks making headlines: 

”” Hormel Foods dropped $1.25, or 4 percent, to $30.05 after its earnings and revenue fell below Wall Street expectations. The company said sales of Spam remained strong, and it increased its annual dividend 13 percent, to 68 cents per share. 

”” Best Buy fell $1.79, or 13 percent, to $11.96, its lowest in more than a decade. The company, which has struggled for years against increased competition from online electronics retailers, turned in another dismal earnings report. 

”” Krispy Kreme Doughnuts climbed $1.77, or 23 percent, to $9.31 after it forecast earnings for 2013 above what Wall Street was expecting. 

”” Green Mountain Coffee rose 54 cents, or 2 percent, to $27.87 after picking a new CEO, Brian Kelley of Coca-Cola. 

”” Groupon gained 27 cents, or 9 percent, to $3.37 after a hedge fund, Tiger Global, said it had bought a 10 percent stake in the company.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market crept higher Wednesday ahead of the Thanksgiving holiday. Major market indexes got a slight lift after news broke of a cease-fire agreement between Israel and Hamas in the Gaza Strip. 

The truce was announced by Egypt's foreign minister and confirmed by Israeli Prime Minister Benjamin Netanyahu. A week of fighting has killed more than 140 Palestinians and five Israelis. 

The Dow Jones industrial average climbed 48.38 points to 12,836.89. Three of the most expensive stocks in the average ”” Boeing, IBM and United Technologies ”” each rose more than 60 cents. Higher-priced stocks in the Dow carry more weight. 

The Labor Department said that first-time applications for unemployment benefits fell by 41,000 last week to 410,000. The figure remains temporarily high because of Superstorm Sandy and was in line with what economists had expected. 

"The news today didn't mess anything up," said Harry Clark, CEO of Clark Capital Management, an investment advisory firm in Philadelphia. "With no bad news, this market will drift higher." 

That's partially because investors have stopped worrying as much about the "fiscal cliff" of tax increases and government spending cuts that are set to take effect Jan. 1, Clark said. 

Over the past week, congressional Republicans and Democrats have made conciliatory remarks and raised hopes that they will reach a deal to stave off the full effect of the budget-tightening measures. 

While the cuts would hurt the economy gradually, they could be enough to push the U.S. back into recession next year, economists have warned. 

"Both sides appear to have extended an olive branch," said JJ Kinahan, chief derivatives strategist at TD Ameritrade. "The assumption now is that, it may not be pretty, but at the end of the day they'll get some compromise worked out." 

In other Wednesday trading, the Standard & Poor's 500 index gained 3.22 points to 1,391.03. Utilities fell the most, while telecommunication companies rose the most, but no category moved more than 0.6 percent. 

The Nasdaq composite index rose 9.87 points to 2,926.55. In the bond market, the yield on the benchmark 10-year U.S. Treasury note inched up to 1.68 percent.

 *The NYSE DOW closed  	HIGHER ▲	48.38	points or ▲	0.38%	Wednesday, 21 November 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,836.89	▲	48.38	▲	0.38%	
	Nasdaq____	2,926.55	▲	9.87	▲	0.34%	
	S&P_500____	1,391.03	▲	3.22	▲	0.23%	
	30_Yr_Bond____	2.830	▲	0.02	▲	0.75%	

NYSE Volume	 2,647,792,250 			 		 	
Nasdaq Volume	 1,426,227,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,752.03	▲	3.93	▲	0.07%	
	DAX_____	7,184.71	▲	11.72	▲	0.16%	
	CAC_40__	3,477.36	▲	15.30	▲	0.44%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,390.70	▼	-16.80	▼	-0.38%	
	Shanghai_Comp	2,030.32	▲	21.40	▲	1.07%	
	Taiwan_Weight	7,088.49	▼	-57.28	▼	-0.80%	
	Nikkei_225____	9,222.52	▲	79.88	▲	0.87%	
	Hang_Seng____	21,524.36	▲	53.93	▲	1.39%	
	Strait_Times___	2,960.30	▲	1.48	▲	0.05%	
	NZX_50_Index__	3,971.23	▼	-1.74	▼	-0.04%	

http://finance.yahoo.com/news/stocks-edge-ahead-thanksgiving-break-192049198.html

*Stocks edge up ahead of Thanksgiving break

Stocks creep higher on Wall Street ahead of Thanksgiving holiday*

Associated Press 

The stock market crept higher Wednesday ahead of the Thanksgiving holiday. Major market indexes got a slight lift after news broke of a cease-fire agreement between Israel and Hamas in the Gaza Strip. 

The truce was announced by Egypt's foreign minister and confirmed by Israeli Prime Minister Benjamin Netanyahu. A week of fighting has killed more than 140 Palestinians and five Israelis. 

The Dow Jones industrial average climbed 48.38 points to 12,836.89. Three of the most expensive stocks in the average ”” Boeing, IBM and United Technologies ”” each rose more than 60 cents. Higher-priced stocks in the Dow carry more weight. 

The Labor Department said that first-time applications for unemployment benefits fell by 41,000 last week to 410,000. The figure remains temporarily high because of Superstorm Sandy and was in line with what economists had expected. 

"The news today didn't mess anything up," said Harry Clark, CEO of Clark Capital Management, an investment advisory firm in Philadelphia. "With no bad news, this market will drift higher." 

That's partially because investors have stopped worrying as much about the "fiscal cliff" of tax increases and government spending cuts that are set to take effect Jan. 1, Clark said. 

Over the past week, congressional Republicans and Democrats have made conciliatory remarks and raised hopes that they will reach a deal to stave off the full effect of the budget-tightening measures. 

While the cuts would hurt the economy gradually, they could be enough to push the U.S. back into recession next year, economists have warned. 

"Both sides appear to have extended an olive branch," said JJ Kinahan, chief derivatives strategist at TD Ameritrade. "The assumption now is that, it may not be pretty, but at the end of the day they'll get some compromise worked out." 

In other Wednesday trading, the Standard & Poor's 500 index gained 3.22 points to 1,391.03. Utilities fell the most, while telecommunication companies rose the most, but no category moved more than 0.6 percent. 

The Nasdaq composite index rose 9.87 points to 2,926.55. In the bond market, the yield on the benchmark 10-year U.S. Treasury note inched up to 1.68 percent. 

The quiet trading followed a largely uneventful Tuesday. The Dow dropped as much as 94 points after a warning from Federal Reserve Chairman Ben Bernanke about federal budget talks, then recovered to end with just a seven-point loss. 

The stock market will be closed Thursday for Thanksgiving and will close early Friday. Congress has the week off and will take up budget negotiations after its members return from the break next week. 

Among companies making news: 

”” Deere, the maker of tractors and other farm and construction equipment, dropped 4 percent. It reported a quarterly profit of $1.75 per share, missing Wall Street expectations of $1.88. 

”” Chipotle Mexican Group, the restaurant chain, climbed 3 percent. It announced late Tuesday that it would buy back an additional $100 million of its own stock. That's in addition to a $100 billion buyback plan launched Oct. 18. 

”” Zale plunged 30 percent after the jewelry store chain reported a larger loss than analysts had expected. The company, which runs Zales stores and Piercing Pagoda kiosks, posted weaker sales. Jewelry store sales sank during the recession and have yet to recover.


----------



## bigdog

Source: http://finance.yahoo.com 

An upbeat Chinese manufacturing survey helped offset the disappointment felt in the markets of another round of grim European figures Thursday ”” on a day that saw trading seriously curtailed by the U.S. Thanksgiving holiday. 

The optimism in the markets came in the wake of a manufacturing survey from HSBC. Its purchasing managers index (PMI), a gauge of activity, rose to a 13-month high of 50.4 for November from the previous month's 49.5. Readings above 50 denote growth. 

The figures gave Asian markets a boost earlier and that carried through into the European day. The FTSE 100 index of leading British shares closed up 0.7 percent at 5,791.03 while Germany's DAX rose 0.8 percent to 7,244.99. The CAC-40 in France ended 0.6 percent higher at 3,498.22. 

The gains in Europe came despite a survey showing that the 17-country eurozone remains in recession. Financial information company Markit said its composite PMI, which assesses the service sector as well as manufacturing, for the eurozone rose to 45.8 in November from 45.7 the month before. That signals further contraction in the eurozone economy, which is now in recession, officially defined as two straight quarters of negative growth. 

Earlier, Asian markets registered strong gains, boosted by the manufacturing news from China, a major market for many countries in the region. 

Hong Kong's Hang Seng rose 1 percent to close at 21,743.20. South Korea's Kospi added 0.8 percent to 1,899.50 and Australia's S&P/ASX 200 gained 1 percent to 4,424.20. 

Japan's Nikkei 225 index jumped 1.6 percent to close at 9,366.80 ”” its highest finish since May 2 ”” as a recently weakened yen provided a vital boost to the export-heavy index. The yen continued to fall back Thursday, with the dollar up 0.2 percent at 82.62 yen. 

 *The NYSE DOW was closed for U.S. Thanksgiving holiday on Thursday November 23.  On Wednesday November 22 the NYSE closed as follows 		**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,836.89	▲	48.38	▲	0.38%	
	Nasdaq____	2,926.55	▲	9.87	▲	0.34%	
	S&P_500____	1,391.03	▲	3.22	▲	0.23%	
	30_Yr_Bond____	2.830	▲	0.02	▲	0.75%	

NYSE Volume	 2,647,792,250 			 		 	
Nasdaq Volume	 1,426,227,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,791.03	▲	39.00	▲	0.68%	
	DAX_____	7,244.99	▲	60.28	▲	0.84%	
	CAC_40__	3,498.22	▲	20.86	▲	0.60%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,432.40	▲	41.70	▲	0.95%	
	Shanghai_Comp	2,015.61	▼	-14.71	▼	-0.72%	
	Taiwan_Weight	7,105.76	▲	17.27	▲	0.24%	
	Nikkei_225____	9,366.80	▲	144.28	▲	1.56%	
	Hang_Seng____	21,743.20	▲	53.93	▲	1.02%	
	Strait_Times___	2,986.63	▲	26.33	▲	0.89%	
	NZX_50_Index__	3,997.21	▲	25.98	▲	0.65%	

http://finance.yahoo.com/news/china...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*China economy hopes give markets a lift

Strong Chinese manufacturing survey lifts markets; trading modest as US closes for holiday*

By Pan Pylas, AP Business Writer 

An upbeat Chinese manufacturing survey helped offset the disappointment felt in the markets of another round of grim European figures Thursday ”” on a day that saw trading seriously curtailed by the U.S. Thanksgiving holiday. 

The optimism in the markets came in the wake of a manufacturing survey from HSBC. Its purchasing managers index (PMI), a gauge of activity, rose to a 13-month high of 50.4 for November from the previous month's 49.5. Readings above 50 denote growth. 

The figures gave Asian markets a boost earlier and that carried through into the European day. The FTSE 100 index of leading British shares closed up 0.7 percent at 5,791.03 while Germany's DAX rose 0.8 percent to 7,244.99. The CAC-40 in France ended 0.6 percent higher at 3,498.22. 

The gains in Europe came despite a survey showing that the 17-country eurozone remains in recession. Financial information company Markit said its composite PMI, which assesses the service sector as well as manufacturing, for the eurozone rose to 45.8 in November from 45.7 the month before. That signals further contraction in the eurozone economy, which is now in recession, officially defined as two straight quarters of negative growth. 

"The eurozone might be drifting further into recession, but it seems markets are content to ignore this and focus on figures which suggest that the situation in the global powers of the U.S. and China is improving," said Chris Beauchamp, market analyst at IG Index. 

Over recent weeks, the focus of attention has been on two main issues ”” whether the White House can come to a deal with Congress on the budget and whether Greece will get its next batch of bailout cash. 

Though a deal on either front has yet to be achieved, investors remain confident that their worst fears ”” a U.S. recession and a Greek exit from the euro ”” will be averted. A U.S. budget deal is expected to be achieved to avoid automatic tax increases and spending cuts at the start of next year, while Greece is tipped to finally get the approval for the release of the money it needs to avoid bankruptcy at a meeting in Brussels on Monday. 

That confidence has boosted stocks this week as well as given the euro a boost. Europe's single currency was up a further 0.2 percent at $1.2871. 

Earlier, Asian markets registered strong gains, boosted by the manufacturing news from China, a major market for many countries in the region. 

Hong Kong's Hang Seng rose 1 percent to close at 21,743.20. South Korea's Kospi added 0.8 percent to 1,899.50 and Australia's S&P/ASX 200 gained 1 percent to 4,424.20. 

Japan's Nikkei 225 index jumped 1.6 percent to close at 9,366.80 ”” its highest finish since May 2 ”” as a recently weakened yen provided a vital boost to the export-heavy index. The yen continued to fall back Thursday, with the dollar up 0.2 percent at 82.62 yen. 

Oil prices were little changed as traders weighed up Thursday's economic figures as well as the cease-fire in Gaza. Benchmark crude for January delivery was down 21 cents at $87.17 per barrel in electronic trading on the New York Mercantile Exchange.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market enjoyed some Black Friday cheer, rising sharply as shoppers braved the annual post-Thanksgiving rush. Major stock indexes closed one of their best weeks of the year. 

Traders were encouraged by positive economic news from Germany and China, two engines of global growth. Technology stocks soared after a few weeks of selling. And early reports from retailers suggested strong consumer spending. 

"Foot traffic appears heavier than we've seen in recent years, there are a lot of positive statements out of the companies themselves, and momentum appears to be strong," said JJ Kinahan, chief derivatives strategist at the brokerage TD Ameritrade. 

Many stores opened earlier than ever this year, Kinahan said, allowing for earlier informal reports about their performance. 

Technology stocks soared, lifting the Nasdaq composite index by more than 1 percent. Dell, chipmaker AMD and Hewlett-Packard were the top three gainers in the Standard & Poor's 500. Technology rose the most among the index's 10 industry groups. 

The stocks were bouncing back after confidence in tech stocks declined broadly, Kinahan said. AMD dropped sharply in recent weeks as investors fretted about its solvency. HP plunged 12 percent on Tuesday after executives said that a company HP bought for $10 billion last year lied about its finances. 

The Nasdaq ended up 40.30 points, or 1.4 percent, at 2,966.85. The Dow Jones industrial average gained 172.79, or 1.4 percent, to 13,009.69 ”” *the first time since election day that the Dow closed above 13,000*. 

The S&P 500 added 18.12, or 1.3 percent, to 1409.15. The rally gave the S&P 500 its biggest weekly point gain since last December ”” 49 points, or 3.6 percent. The Dow gained 3.4 percent and the Nasdaq almost 4 percent for the week. 

*The market closed early, at 1 p.m. EST. *

Stocks started strong after news that German business confidence rose unexpectedly in November after six straight declines. The gain in a closely watched index published by Munich's Ifo institute raised hopes that Europe's largest economy can continue to weather the continent's financial crisis.

 *The NYSE DOW closed  	HIGHER ▲	172.79	points or ▲	1.35%	Friday, 23 November 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,009.68	▲	172.79	▲	1.35%	
	Nasdaq____	2,966.85	▲	40.30	▲	1.38%	
	S&P_500____	1,409.15	▲	18.12	▲	1.30%	
	30_Yr_Bond____	2.830	▲	0.00	▼	-0.04%	

NYSE Volume	 1,504,857,120 			 		 	
Nasdaq Volume	 814,720,440 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,819.14	▲	28.11	▲	0.49%	
	DAX_____	7,309.13	▲	64.14	▲	0.89%	
	CAC_40__	3,528.80	▲	30.58	▲	0.87%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,431.50	▼	-0.90	▼	-0.02%	
	Shanghai_Comp	2,027.38	▲	11.77	▲	0.58%	
	Taiwan_Weight	7,326.01	▲	220.25	▲	3.10%	
	Nikkei_225____	9,366.80	▲	144.28	▲	1.56%	
	Hang_Seng____	21,913.98	▲	53.93	▲	0.79%	
	Strait_Times___	2,989.28	▲	2.65	▲	0.09%	
	NZX_50_Index__	4,008.34	▲	11.12	▲	0.28%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks soar on Black Friday; tech leads the way

US stocks rise sharply on economic news from Germany, China; Black Friday retail rush is on*

By Daniel Wagner, AP Business Writer

The stock market enjoyed some Black Friday cheer, rising sharply as shoppers braved the annual post-Thanksgiving rush. Major stock indexes closed one of their best weeks of the year. 

Traders were encouraged by positive economic news from Germany and China, two engines of global growth. Technology stocks soared after a few weeks of selling. And early reports from retailers suggested strong consumer spending. 

"Foot traffic appears heavier than we've seen in recent years, there are a lot of positive statements out of the companies themselves, and momentum appears to be strong," said JJ Kinahan, chief derivatives strategist at the brokerage TD Ameritrade. 

Many stores opened earlier than ever this year, Kinahan said, allowing for earlier informal reports about their performance. 

Technology stocks soared, lifting the Nasdaq composite index by more than 1 percent. Dell, chipmaker AMD and Hewlett-Packard were the top three gainers in the Standard & Poor's 500. Technology rose the most among the index's 10 industry groups. 

The stocks were bouncing back after confidence in tech stocks declined broadly, Kinahan said. AMD dropped sharply in recent weeks as investors fretted about its solvency. HP plunged 12 percent on Tuesday after executives said that a company HP bought for $10 billion last year lied about its finances. 

The Nasdaq ended up 40.30 points, or 1.4 percent, at 2,966.85. The Dow Jones industrial average gained 172.79, or 1.4 percent, to 13,009.69 ”” the first time since election day that the Dow closed above 13,000. 

The S&P 500 added 18.12, or 1.3 percent, to 1409.15. The rally gave the S&P 500 its biggest weekly point gain since last December ”” 49 points, or 3.6 percent. The Dow gained 3.4 percent and the Nasdaq almost 4 percent for the week. 

The market closed early, at 1 p.m. EST. 

Stocks started strong after news that German business confidence rose unexpectedly in November after six straight declines. The gain in a closely watched index published by Munich's Ifo institute raised hopes that Europe's largest economy can continue to weather the continent's financial crisis. 

China's manufacturing expanded for the first time in 13 months in November, the latest sign that the world's second-biggest economy is recovering from its deepest slump since the 2008 global crisis. HSBC Corp. said its monthly Purchasing Managers' Index improved to 50.4 for November. Any number above 50 indicates expansion. 

The PMI measures overall manufacturing activity by surveying indicators including orders, employment and production. The result was released Thursday, when the U.S. market was closed for Thanksgiving. 

Around the U.S., shoppers flocked to malls and logged on to computers to take part in the annual cheer-fueled retail rush known as Black Friday. 

Target and Toys R Us welcomed buyers on Thanksgiving evening. Retailers are also trying to draw shoppers with free layaway and shipping, by matching prices of online rivals and by beefing up mobile shopping apps. 

Retail is a key driver of the nation's economy. Consumer spending accounts for about 70 percent of U.S. economic activity. November and December, which can account for as much as 40 percent of a retailer's annual revenue, are crucial for stores. 

The Friday after Thanksgiving is known as Black Friday because it begins the period in which many retailers turn profitable for the year. Traders will be looking for signs about how enthusiastically Americans are spending. That could reflect the momentum of the economic recovery. 

Wal-Mart rose $1.31, or 1.9 percent, to $70.20. Macy's gained 72 cents, or 1.8 percent, to $41.73. 

Trading volume on Wall Street was light, with many investors away for an extended weekend after Thanksgiving. The rally's strength will be tested on Monday, as many traders return to their desks and retailers begin to release hard data about their holiday sales results, Kinahan said. 

"It's great when something like this happens, but on a half-day without the major players in there, it's not so surprising," he said. 

European indexes added to earlier gains after Wall Street opened and closed higher. The FTSE 100 index of leading British shares rose 0.5 percent. Germany's DAX and France's CAC-40 both added 0.9 percent. 

Investors were monitoring developments in Brussels, where European Union leaders are trying to agree on a $1.25 trillion long-term spending plan for the 27-nation bloc. Markets expect that another meeting will be needed for an agreement. 

Among the stocks making big moves: 

”” MAP Pharmaceuticals spiked after the company announced that the Food and Drug Administration will review its experimental migraine drug Levadex. The stock rose $2.60, or 20.3 percent, to $15.42. 

”” KIT Digital Inc., a video software and technology company, lost two-thirds of its value after the company's former chief executive accused it of blaming prior management for its financial problems. Two days earlier, KIT said it would restate its financial results because of accounting errors. The stock lost $1.33, or 64.3 percent, to 74 cents. 

Among tech's big gainers: 

”” Research in Motion Ltd. jumped on growing optimism for an earlier-than-expected launch of its delayed BlackBerry 10 smartphone. A senior executive from the Canadian company said earlier this month that Research In Motion, or RIM, will release the latest version of its smartphone "not long after" a Jan. 30 event. One analyst saw that as an indication that the products are to be unveiled in February. U.S.-traded shares of RIM rose $1.40, or 13.7 percent, to $11.66. 

”” Dell rose 49 cents, or 5.4 percent, to $9.55. 

”” HP added 50 cents, or 4.2 percent, to $12.44. 

”” AMD rose 8 cents, or 4.3 percent, to $1.95.

6813


----------



## bigdog

Source: http://finance.yahoo.com 

Wall Street came back to work after the Thanksgiving weekend and faced leftover worries about the "fiscal cliff" and the European debt crisis. Stocks retreated after one of their best weeks of the year. 

The Dow Jones industrial average fell 42.31 points to 12,967.37. The Standard & Poor's 500 index declined 2.86 to 1,406.29. And the Nasdaq composite index managed a 9.93-point increase to 2,976.78. 

Utility stocks rose the most, while telecommunications companies fell the most. 

The major U.S. economic reports were not due until later in the week, leaving investors to rehash the European debt crisis and talks in Washington over the "cliff" of tax increases and government spending cuts set to take effect Jan. 1. 

"The themes seem about as recycled as Thanksgiving turkey," David Kelly, chief global strategist at JPMorgan Funds, wrote in a note to clients. 

He expected a better read on the economy later this week, with reports on consumer confidence on Tuesday and unemployment claims and third-quarter economic growth on Thursday. 

Scott Carmack, co-portfolio manager at Leader Capital in Portland, Ore., said the decline Monday was all but inevitable after last week, when the Dow climbed 3.3 percent because of encouraging signs from Washington and good economic news overseas. 

That made Monday a good day to cash out on last week's gains, Carmack said, especially because traders aren't sure how the fiscal cliff will affect the market for the rest of the year. 

"Monday is a good day to take profits," Carmack said. "No one was in on Friday, so they're doing it Monday." 

 *The NYSE DOW closed  	LOWER ▼	-42.31	points or ▼	-0.33%	Monday, 26 November 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,967.37	▼	-42.31	▼	-0.33%	
	Nasdaq____	2,976.78	▲	9.93	▲	0.33%	
	S&P_500____	1,406.29	▼	-2.86	▼	-0.20%	
	30_Yr_Bond____	2.801	▼	-0.03	▼	-0.99%	

NYSE Volume	 2,921,833,250 			 		 	
Nasdaq Volume	 1,559,286,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,786.72	▼	-32.42	▼	-0.56%	
	DAX_____	7,292.03	▼	-17.10	▼	-0.23%	
	CAC_40__	3,500.94	▼	-27.86	▼	-0.79%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,443.50	▲	12.00	▲	0.27%	
	Shanghai_Comp	2,017.46	▼	-9.92	▼	-0.49%	
	Taiwan_Weight	7,407.37	▲	81.36	▲	1.11%	
	Nikkei_225____	9,388.94	▲	22.14	▲	0.24%	
	Hang_Seng____	21,861.81	▲	53.93	▼	-0.24%	
	Strait_Times___	3,006.37	▲	17.09	▲	0.57%	
	NZX_50_Index__	4,012.03	▲	3.69	▲	0.09%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks end lower after a strong week

Stocks finish lower after a strong week; 'fiscal cliff' and Europe on investors' minds*

By Christina Rexrode, AP Business Writer 

Wall Street came back to work after the Thanksgiving weekend and faced leftover worries about the "fiscal cliff" and the European debt crisis. Stocks retreated after one of their best weeks of the year. 

The Dow Jones industrial average fell 42.31 points to 12,967.37. The Standard & Poor's 500 index declined 2.86 to 1,406.29. And the Nasdaq composite index managed a 9.93-point increase to 2,976.78. 

Utility stocks rose the most, while telecommunications companies fell the most. 

The major U.S. economic reports were not due until later in the week, leaving investors to rehash the European debt crisis and talks in Washington over the "cliff" of tax increases and government spending cuts set to take effect Jan. 1. 

"The themes seem about as recycled as Thanksgiving turkey," David Kelly, chief global strategist at JPMorgan Funds, wrote in a note to clients. 

He expected a better read on the economy later this week, with reports on consumer confidence on Tuesday and unemployment claims and third-quarter economic growth on Thursday. 

Scott Carmack, co-portfolio manager at Leader Capital in Portland, Ore., said the decline Monday was all but inevitable after last week, when the Dow climbed 3.3 percent because of encouraging signs from Washington and good economic news overseas. 

That made Monday a good day to cash out on last week's gains, Carmack said, especially because traders aren't sure how the fiscal cliff will affect the market for the rest of the year. 

"Monday is a good day to take profits," Carmack said. "No one was in on Friday, so they're doing it Monday." 

The National Retail Federation reported that 247 million shoppers visited stores and shopping websites during the long Thanksgiving weekend, up 9 percent from a year ago. They spent an average of $423, up 6 percent. 

Some worry that the momentum won't last, and that deep discounting will hurt stores. Macy's fell $1.87, or 4.5 percent, to $39.86. Saks dropped 29 cents, or 2.8 percent, to $10.23. Target declined $1.71, or 2.6 percent ,to $62.77. 

Abercrombie & Fitch was an exception, rising 21 cents to $44.61. 

The cliff cast a pall. A government report released Monday warned that a sudden increase in taxes would crimp the spending of middle class families next year, and some analysts wondered whether families would curb spending before the year is over. 

The report, by President Barack Obama's National Economic Council and his Council of Economic Advisers, estimated that a married couple earning between $50,000 and $85,000 with two children would see a $2,200 increase in their taxes. 

In Europe, leaders of European Union countries tried to reach a deal to lend more money to debt-crippled Greece. The ministers have failed twice in the last two weeks to reach an agreement to release â‚¬44 billion, or $56.8 billion. 

In the U.S., though, "Most of these uncertainties have been with us for quite some time," Sam Stovall, chief equity strategist at S&P Capital IQ, wrote in a note Monday, "and are now regarded by many as annoyances to resolve rather than obstacles to fear." 

In the bond market, the yield on the 10-year U.S. Treasury note fell 2 percentage points to 1.66 percent from late Friday. 

In other stock trading: 

”” McGraw-Hill announced it would sell its education unit to a private equity firm. The company's stock rose 20 cents, or 0.4 percent, to $51.89. 

”” Facebook stock jumped $1.94, or 8.1 percent, to $25.94 after a Bernstein analyst upgraded his rating of the company, predicting it will beat revenue expectations for the near future.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks slumped on Wall Street Tuesday after Senate Majority Leader Harry Reid said he was frustrated by the lack of progress in talks over the U.S. budget impasse in Washington. 

The Dow Jones industrial average closed down 89.24 points to 12,878.13. The Dow and other indexes had been moving between small gains and losses for most of the day, then turned lower after Reid's comments in the early afternoon. 

"We have to get away from the happy talk and start talking about specific things," Reid told reporters in televised comments. 

The Standard & Poor's 500 lost 7.35 points to 1,398.94 and the Nasdaq composite index lost 8.99 points to 2,967.79. 

Worries about the budget talks have been hanging over the stock market for weeks. Stocks slumped immediately after the Nov. 6 election over concerns that politicians would be unable to reach a deal to trim the deficit before a Jan. 1 deadline. 

If that deadline isn't met, under current law a series of sharp tax increases and spending cuts will come into effect. Economists have warned that the measures could push the economy back into a recession. That deadline has come to be known as the "fiscal cliff." 

"The markets are getting whipped around, rather sharply, on headlines," said Sal Arnuk, co-founder at Themis Trading. "For example, Harry Reid feeling we're not making enough progress on the fiscal cliff." 

Last week stocks pared some of the losses that followed the election. President Barack Obama plans to make a public case this week for his strategy for dealing with the issue as he pressures Republicans to allow tax increases on the wealthy while extending tax cuts for families earning $250,000 or less. 

The S&P declined as much as 5 percent in the weeks after voters returned a divided government to power, with President Barack Obama returning to the White House and Republicans retaining control of the House. 

Earlier in the day, investors took little comfort from the latest deal to deliver financial aid to Greece and increases in U.S. consumer confidence and orders for machinery and equipment. 

 *The NYSE DOW closed  	LOWER ▼	-89.24	points or ▼	-0.69%	Tuesday, 27 November 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,878.13	▼	-89.24	▼	-0.69%	
	Nasdaq____	2,967.79	▼	-8.99	▼	-0.30%	
	S&P_500____	1,398.94	▼	-7.35	▼	-0.52%	
	30_Yr_Bond____	2.791	▼	-0.01	▼	-0.36%	

NYSE Volume	 3,294,930,000 			 		 	
Nasdaq Volume	 1,762,521,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,799.71	▲	12.99	▲	0.22%	
	DAX_____	7,332.33	▲	40.30	▲	0.55%	
	CAC_40__	3,502.13	▲	1.19	▲	0.03%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,473.40	▲	29.90	▲	0.67%	
	Shanghai_Comp	1,991.17	▼	-26.30	▼	-1.30%	
	Taiwan_Weight	7,430.20	▲	22.83	▲	0.31%	
	Nikkei_225____	9,423.30	▲	34.36	▲	0.37%	
	Hang_Seng____	21,844.03	▲	53.93	▼	-0.08%	
	Strait_Times___	3,014.22	▲	9.72	▲	0.32%	
	NZX_50_Index__	4,009.61	▼	-2.42	▼	-0.06%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks slide on 'fiscal cliff' warning

Stocks slide on Wall Street after Reid says little progress is being made in budget talks*

By Steve Rothwell, AP Business Writer

Stocks slumped on Wall Street Tuesday after Senate Majority Leader Harry Reid said he was frustrated by the lack of progress in talks over the U.S. budget impasse in Washington. 

The Dow Jones industrial average closed down 89.24 points to 12,878.13. The Dow and other indexes had been moving between small gains and losses for most of the day, then turned lower after Reid's comments in the early afternoon. 

"We have to get away from the happy talk and start talking about specific things," Reid told reporters in televised comments. 

The Standard & Poor's 500 lost 7.35 points to 1,398.94 and the Nasdaq composite index lost 8.99 points to 2,967.79. 

Worries about the budget talks have been hanging over the stock market for weeks. Stocks slumped immediately after the Nov. 6 election over concerns that politicians would be unable to reach a deal to trim the deficit before a Jan. 1 deadline. 

If that deadline isn't met, under current law a series of sharp tax increases and spending cuts will come into effect. Economists have warned that the measures could push the economy back into a recession. That deadline has come to be known as the "fiscal cliff." 

"The markets are getting whipped around, rather sharply, on headlines," said Sal Arnuk, co-founder at Themis Trading. "For example, Harry Reid feeling we're not making enough progress on the fiscal cliff." 

Last week stocks pared some of the losses that followed the election. President Barack Obama plans to make a public case this week for his strategy for dealing with the issue as he pressures Republicans to allow tax increases on the wealthy while extending tax cuts for families earning $250,000 or less. 

The S&P declined as much as 5 percent in the weeks after voters returned a divided government to power, with President Barack Obama returning to the White House and Republicans retaining control of the House. 

Earlier in the day, investors took little comfort from the latest deal to deliver financial aid to Greece and increases in U.S. consumer confidence and orders for machinery and equipment. 

While stocks have gained this year as the Federal Reserve has maintained it bond-buying stimulus program, concern about global growth and the budget fight in Washington may limit further advances, said Uri Landesman, President of Platinum Partners, a New York-based hedge fund. The S&P is up 11 percent this year, the Dow 5 percent. 

"The glass is half-empty right now," Landesman said. 

The S&P rose as high as 1,465 in September, the highest in almost five years, after the Federal Reserve said it would extend its so-called quantitative easing program and buy more bonds. The program is intended to lower borrowing costs and stimulate hiring. 

Two reports that suggested that the outlook for the U.S. economy may be improving failed to encourage investors to push stocks higher. 

Consumer confidence rose this month to the highest level in almost five years, pushed up by steady improvement in hiring. The Conference Board's consumer confidence index rose to 73.7 in November from 73.1 in October. Both are the best readings since February 2008. 

The government reported separately that U.S. companies increased their orders of machinery and equipment last month, a sign that business investment is rising. Orders rose 1.7 percent in October, the best showing since a 2.3 percent rise in May. 

The yield on the 10-year Treasury note edged down to 1.65 percent. 

Among other stocks making big moves: 

””ConAgra advanced $1.34, or 4.7 percent, to $29.63 after it agreed to buy Ralcorp for $5 billion in a deal that will make it the nation's biggest maker of private-label foods. Ralcorp surged $18.57, or 26.4 percent, to $88.80. 

””Corning Inc., a specialty glass maker, rose 78 cents, or 6.9 percent, to $12.13 after it said that North American television sales are stronger than expected in the fourth quarter, boosting demand for its products. 

”” Las Vegas Sands Corp. rose $2.33, or 5.3 percent, to $46.36 after the casino operator said it would pay a special dividend of $2.75 per share, distributing about $2.26 billion to shareholders before the end of the year. 

””Monster Beverage Corp. soared $6.69, or 13.3 percent, to $51.97 as concerns eased about increased regulation for the energy drink maker following a letter to senators, made public Tuesday, from the U.S. Food and Drug Administration.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks gained on signs that lawmakers are edging toward a deal that would help the U.S. avoid the "fiscal cliff." 

Indexes shrugged off an early loss and rose in afternoon trading Wednesday. The Dow Jones industrial average closed up 106.98 points at 12,985.11. It had been down as much as 112 points in early trading. 

The Standard and Poor's 500 was up 10.99 points at 1,409.93. The Nasdaq composite rose 23.99 points to at 2,991.78. 

Huge tax increases and spending cuts will come into effect Jan. 1 if no deal on the U.S. budget is reached. Economists say the measures could push the country back into recession. President Barack Obama said he believed both parties can reach a "framework" on a debt-cutting deal before Christmas, while House Speaker John Boehner told reporters that he was optimistic a deal could be reached, according news outlets including CNBC. 

Craig Johnson, a Minneapolis, Minn.-based technical market strategist at Piper Jaffray, said lawmakers realize that there is too much at stake to allow the deadline to pass. 

"I don't think that anybody in Washington is going to do something so draconian, or so negative, that we're going to trigger a recession," Johnson said. "There will be some compromise." 

Concern that the U.S. will go over the fiscal "cliff" has weighed on stocks since the Nov. 6 elections returned a divided government to power, with President Barack Obama staying in the White House and Republicans retaining control of the House. 

Uncertainty about a possible increase in capital gains taxes has been prompting investors to sell stocks, said Johnson. 

As the third-quarter corporate earnings period draws to a close, investors and traders have become increasingly fixated on the negotiations to cut the budget deficit. Before Wednesday's gain, the market slumped Tuesday after Senate Majority Leader Harry Reid said he was frustrated by the lack of progress in talks. The two moves canceled each other out, leaving both the Dow and the S&P 500 little changed for the week. 

 *The NYSE DOW closed  	HIGHER ▲	106.98	points or ▲	0.83%	Wednesday, 28 November 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,985.11	▲	106.98	▲	0.83%	
	Nasdaq____	2,991.78	▲	23.99	▲	0.81%	
	S&P_500____	1,409.93	▲	10.99	▲	0.79%	
	30_Yr_Bond____	2.779	▼	-0.01	▼	-0.43%	

NYSE Volume	 3,324,628,500 			 		 	
Nasdaq Volume	 1,673,082,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,803.28	▲	3.57	▲	0.06%	
	DAX_____	7,343.41	▲	11.08	▲	0.15%	
	CAC_40__	3,515.19	▲	13.06	▲	0.37%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,462.60	▼	-10.80	▼	-0.24%	
	Shanghai_Comp	1,973.52	▼	-17.64	▼	-0.89%	
	Taiwan_Weight	7,434.93	▲	4.73	▲	0.06%	
	Nikkei_225____	9,308.35	▼	-114.95	▼	-1.22%	
	Hang_Seng____	21,708.98	▲	53.93	▼	-0.62%	
	Strait_Times___	3,009.10	▼	-2.81	▼	-0.09%	
	NZX_50_Index__	4,012.16	▲	2.55	▲	0.06%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks gain on hopes for a deal to avoid 'cliff'

Stocks advance on optimism that lawmakers are edging toward a deal to avoid the fiscal 'cliff'*

By Steve Rothwell, AP Business Writer 

Stocks gained on signs that lawmakers are edging toward a deal that would help the U.S. avoid the "fiscal cliff." 

Indexes shrugged off an early loss and rose in afternoon trading Wednesday. The Dow Jones industrial average closed up 106.98 points at 12,985.11. It had been down as much as 112 points in early trading. 

The Standard and Poor's 500 was up 10.99 points at 1,409.93. The Nasdaq composite rose 23.99 points to at 2,991.78. 

Huge tax increases and spending cuts will come into effect Jan. 1 if no deal on the U.S. budget is reached. Economists say the measures could push the country back into recession. President Barack Obama said he believed both parties can reach a "framework" on a debt-cutting deal before Christmas, while House Speaker John Boehner told reporters that he was optimistic a deal could be reached, according news outlets including CNBC. 

Craig Johnson, a Minneapolis, Minn.-based technical market strategist at Piper Jaffray, said lawmakers realize that there is too much at stake to allow the deadline to pass. 

"I don't think that anybody in Washington is going to do something so draconian, or so negative, that we're going to trigger a recession," Johnson said. "There will be some compromise." 

Concern that the U.S. will go over the fiscal "cliff" has weighed on stocks since the Nov. 6 elections returned a divided government to power, with President Barack Obama staying in the White House and Republicans retaining control of the House. 

Uncertainty about a possible increase in capital gains taxes has been prompting investors to sell stocks, said Johnson. 

As the third-quarter corporate earnings period draws to a close, investors and traders have become increasingly fixated on the negotiations to cut the budget deficit. Before Wednesday's gain, the market slumped Tuesday after Senate Majority Leader Harry Reid said he was frustrated by the lack of progress in talks. The two moves canceled each other out, leaving both the Dow and the S&P 500 little changed for the week. 

"We're all on pins and needles waiting for every bit of news, or rumors, coming out of Washington," said Ryan Detrick, a Cincinnati, Ohio-based technical analyst at Schaeffer's Investment Research. "That's what Wall Street is focused on. Everybody is watching the fiscal cliff." 

Many companies are making special end-of-year dividend payments or moving up their quarterly payouts because investors will have to pay higher taxes on dividend income starting in 2013, unless lawmakers reach a compromise on taxes and government spending. 

Costco, the wholesale club operator, surged $6.07 to $102.58 after the company said it would pay a special dividend of $7 a share next month, in addition to its regular quarterly dividend. Las Vegas Sands Corp. rose 5.3 percent Tuesday after the casino operator said it would distribute about $2.26 billion to shareholders before the end of the year. It rose another 1.3 percent Wednesday, gaining 60 cents to $49.96. 

With the market's attention focused on the outcome of the "cliff" negotiations, some investors caution that the weakness in third-quarter corporate earnings bode poorly for the stock market. 

"Think of corporate earnings as the canary in the coal mine," said Douglas Cote, chief market strategist at ING U.S. Investment Management. "Corporations are the first ones to signal that there is something going on with economic growth around the world." 

Company earnings fell 0.9 percent in the third quarter, data provider FactSet said in a report Nov. 23. If they earning finish the period lower, it would mark the first decline in three years. 

In economic news, U.S. sales of new homes dipped 0.3 percent in October, though they're up 20.4 percent for the year, according to a government report. Stable home prices suggest the housing market is steadily recovering. 

A pickup in consumer spending and steady home sales helped lift economic growth in October and early November in most parts of the United States, the Federal Reserve said in its Beige Book survey released Wednesday. The one exception was the Northeast, which was slowed by Superstorm Sandy. 

The yield on the 10-year Treasury note fell to 1.63 percent from 1.64 percent. 

Among stocks making big moves: 

”” Green Mountain Coffee Roasters surged $7.91, or 27.3 percent, to $36.86 after the beleaguered coffee company reported strong fourth-quarter results and issued earnings and revenue forecasts that far exceeded the market's expectations. 

””Fresh Market Inc. plunged $7.46, or 12 percent, to $52.78, after the company's fiscal third-quarter profit fell short of analysts' expectations.


----------



## bigdog

Source: http://finance.yahoo.com 

Optimism that a budget deal will be reached in Washington sent stocks modestly higher Thursday. A pair of economic reports also brightened the mood. 

The Dow Jones industrial average rose 36.71 points to close at 13,021.82. 

The stock market took a brief turn lower when House Speaker John Boehner said little progress was being made in budget talks in Washington. The Dow was up as much as 77 points in morning trading, turned negative as Boehner made his remarks at 11:30 a.m., then slowly recovered in the afternoon. 

Investors were encouraged by several positive economic reports, including a higher estimate of third-quarter U.S. economic growth, an increase in home sales and a drop in claims for unemployment benefits. 

After a meeting with Treasury Secretary Tim Geithner, Boehner told reporters that Democrats still haven't said which cuts they would accept to government benefit programs, suggesting a final budget deal remains a long way off. Republicans have said that they are open to increasing tax revenues as part of an agreement but only if they're accompanied by significant cuts to spending. 

Investors have been closely watching the talks between the White House and Congress over the "fiscal cliff", a reference to sharp government spending cuts and tax increases scheduled to start Jan. 1 unless a deal is reached to cut the budget deficit. New developments in the talks have whipsawed the market. 

"It's a headline-watching market with this fiscal cliff," said David Brown, chief market strategist of the investment research firm Sabrient Systems. 

Brown says the ongoing negotiations are likely to cause the stock market to take sudden turns in the weeks ahead. "But things seem to be moving in the right direction," Brown said. "I don't think either party wants to get pinned with hurting the market or the economy." 

In other trading, the Standard & Poor's 500 rose 6.02 points to 1,415.95. The Nasdaq composite index gained 20.25 points to 3,012.03. 

In the market for government bonds, the yield on the 10-year Treasury note slipped to 1.62 percent from 1.63 percent late Wednesday. 

 *The NYSE DOW closed  	HIGHER ▲	36.71	points or ▲	0.28%	Thursday, 29 November 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,021.82	▲	36.71	▲	0.28%	
	Nasdaq____	3,012.03	▲	20.25	▲	0.68%	
	S&P_500____	1,415.95	▲	6.02	▲	0.43%	
	30_Yr_Bond____	2.796	▲	0.02	▲	0.61%	

NYSE Volume	 3,337,720,000 			 		 	
Nasdaq Volume	 1,758,355,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,870.30	▲	67.02	▲	1.15%	
	DAX_____	7,400.96	▲	57.55	▲	0.78%	
	CAC_40__	3,568.88	▲	53.69	▲	1.53%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,490.10	▲	27.50	▲	0.62%	
	Shanghai_Comp	1,963.49	▼	-10.04	▼	-0.51%	
	Taiwan_Weight	7,503.55	▲	68.62	▲	0.92%	
	Nikkei_225____	9,400.88	▲	92.53	▲	0.99%	
	Hang_Seng____	21,922.89	▲	53.93	▲	0.99%	
	Strait_Times___	3,045.90	▲	34.13	▲	1.13%	
	NZX_50_Index__	4,016.77	▲	4.61	▲	0.12%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks rise and fall with twists in budget talks

Optimism over budget deal helps push stocks up; Boehner's remarks briefly rattle market*

By Matthew Craft, AP Business Writer

Optimism that a budget deal will be reached in Washington sent stocks modestly higher Thursday. A pair of economic reports also brightened the mood. 

The Dow Jones industrial average rose 36.71 points to close at 13,021.82. 

The stock market took a brief turn lower when House Speaker John Boehner said little progress was being made in budget talks in Washington. The Dow was up as much as 77 points in morning trading, turned negative as Boehner made his remarks at 11:30 a.m., then slowly recovered in the afternoon. 

Investors were encouraged by several positive economic reports, including a higher estimate of third-quarter U.S. economic growth, an increase in home sales and a drop in claims for unemployment benefits. 

After a meeting with Treasury Secretary Tim Geithner, Boehner told reporters that Democrats still haven't said which cuts they would accept to government benefit programs, suggesting a final budget deal remains a long way off. Republicans have said that they are open to increasing tax revenues as part of an agreement but only if they're accompanied by significant cuts to spending. 

Investors have been closely watching the talks between the White House and Congress over the "fiscal cliff", a reference to sharp government spending cuts and tax increases scheduled to start Jan. 1 unless a deal is reached to cut the budget deficit. New developments in the talks have whipsawed the market. 

"It's a headline-watching market with this fiscal cliff," said David Brown, chief market strategist of the investment research firm Sabrient Systems. 

Brown says the ongoing negotiations are likely to cause the stock market to take sudden turns in the weeks ahead. "But things seem to be moving in the right direction," Brown said. "I don't think either party wants to get pinned with hurting the market or the economy." 

In other trading, the Standard & Poor's 500 rose 6.02 points to 1,415.95. The Nasdaq composite index gained 20.25 points to 3,012.03. 

In the market for government bonds, the yield on the 10-year Treasury note slipped to 1.62 percent from 1.63 percent late Wednesday. 

Stock in Guess gained 55 cents to $25.81 after the clothing maker joined the ranks of companies pledging special dividends to shareholders before favorable tax rates on dividends expire at the end of the year. The clothing company said it will make a one-time payment of $1.20 per share on top of its regular quarterly dividend of 20 cents. 

Dividends, now taxed at 15 percent, will be treated like ordinary income next year unless Congress and the White House extend current tax breaks as part of a budget deal. 

The Commerce Department raised its estimate for U.S. economic growth to an annual rate of 2.7 percent in the July-through-September period. That's much better than the 2 percent rate estimated a month ago and more than twice the 1.3 percent rate logged in the three previous months. 

The Labor Department also reported that the number of Americans applying for unemployment benefits dropped to 393,000 last week, in line with what economists had expected. It was the second straight drop after Superstorm Sandy drove applications higher earlier this month. 

Target, The Gap, and others retail stores posted poor sales numbers, driving their stocks lower. It's a crucial time for retailers, who log a huge chunk of their yearly profits in the weeks running up to the holidays. 

Among other companies making news: 

”” Kohl's plunged 12 percent, the biggest drop in the S&P 500 index. The company posted a drop in sales and said stores in the Mid-Atlantic and the Northeast, areas hit by Superstorm Sandy, fared the worst. Kohl's stock lost $6.13 to $45.02. 

”” Kroger Co. rose $1.19 to $26.25 after the supermarket chain reported stronger quarterly profits and raised its earnings outlook for the year. Stronger sales helped the operator of Fred Meyer and Food 4 Less stores post better results than analysts had expected.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks ended the week more or less where they started it. Investors were watching closely while lawmakers in Washington worked at thrashing out a budget agreement. 

After inching 3.76 points higher on Friday, the Dow Jones industrial average closed at 13,025.58. That's a gain of just 16 points for the week, one of the Dow's smallest moves this year. 

Along the way, the market had several sharp turns both up and down after key figures in the talks, such as House Speaker John Boehner and President Barack Obama, offered contrasting views about how well the talks were going. 

The Standard and Poor's index edged up 0.23 point to 1,416.25. The index is up 0.5 percent for the week. The Nasdaq composite was down 1.79 points to 3,010.24. It gained 1.46 percent for the week. 

The main driver for markets this week has been the talks between the White House and Congress over the "fiscal cliff," a series of sharp government spending cuts and tax increases scheduled to start Jan. 1 unless an agreement is reached to cut the budget deficit. Economists say that those measures, if implemented, could push the U.S. economy back into a recession. 

Optimism that a deal will be done was greeted with rallies, while pessimistic comments from lawmakers were followed by sell-offs. 

"Right now the market is just going to be held hostage as to what happens in the next five hours, versus what's going to happen in the next five years," said Dan Veru, chief investment officer at Palisade Capital Management, in Fort Lee, New Jersey. 

President Obama argued Friday that allowing taxes to rise for the middle class would amount to a "lump of coal" for Christmas, while Boehner declared that negotiations to surmount a looming fiscal cliff are going "almost nowhere." 

Speaking at a toy factory, the president said Republicans should extend existing Bush-era tax rates for households earning $250,000 or less, while allowing increases to kick in for the wealthy. On Capitol Hill, Boehner argued that Obama's latest offer ”” to raise revenue by $1.6 trillion over the next decade ”” would be a "crippling blow" to an economy that is still struggling to find its footing. 

"My sense is that investors are going to be busy reading headlines every day for the next three weeks," said Jack Ablin, chief investment officer at BMO Group in Chicago. 

Ablin says that he expects policy makers to reach a temporary agreement on the budget before year-end, before coming to a "Grand Bargain" next year. He believes improving consumer confidence and rising house prices will underpin the economy and support demand for stocks. 

Stocks are higher for the year. The Dow is up 6.5 percent, the S&P 500 index 12 percent. The indexes are on track to end the month little changed. 

 *The NYSE DOW closed  	HIGHER ▲	3.76	points or ▲	0.03%	Friday, 30 November 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,025.58	▲	3.76	▲	0.03%	
	Nasdaq____	3,010.24	▼	-1.79	▼	-0.06%	
	S&P_500____	1,416.18	▲	0.23	▲	0.02%	
	30_Yr_Bond____	2.794	▼	0.00	▼	-0.07%	

NYSE Volume	 3,812,737,000 			 		 	
Nasdaq Volume	 2,186,128,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,866.82	▼	-3.48	▼	-0.06%	
	DAX_____	7,405.50	▲	4.54	▲	0.06%	
	CAC_40__	3,557.28	▼	-11.60	▼	-0.33%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,518.00	▲	27.90	▲	0.62%	
	Shanghai_Comp	1,980.12	▲	16.63	▲	0.85%	
	Taiwan_Weight	7,580.17	▲	76.62	▲	1.02%	
	Nikkei_225____	9,446.01	▲	45.13	▲	0.48%	
	Hang_Seng____	22,030.39	▲	53.93	▲	0.49%	
	Strait_Times___	3,069.95	▲	24.05	▲	0.79%	
	NZX_50_Index__	4,050.09	▲	33.31	▲	0.83%	

http://finance.yahoo.com/news/stocks-inch-lower-investors-wait-171524177.html
*
Stocks inch lower as investors wait on budget

Stocks edge lower on Wall Street as investors wait on news from budget negotiations*

By Steve Rothwell, AP Business Writer

Stocks ended the week more or less where they started it. Investors were watching closely while lawmakers in Washington worked at thrashing out a budget agreement. 

After inching 3.76 points higher on Friday, the Dow Jones industrial average closed at 13,025.58. That's a gain of just 16 points for the week, one of the Dow's smallest moves this year. 

Along the way, the market had several sharp turns both up and down after key figures in the talks, such as House Speaker John Boehner and President Barack Obama, offered contrasting views about how well the talks were going. 

The Standard and Poor's index edged up 0.23 point to 1,416.25. The index is up 0.5 percent for the week. The Nasdaq composite was down 1.79 points to 3,010.24. It gained 1.46 percent for the week. 

The main driver for markets this week has been the talks between the White House and Congress over the "fiscal cliff," a series of sharp government spending cuts and tax increases scheduled to start Jan. 1 unless an agreement is reached to cut the budget deficit. Economists say that those measures, if implemented, could push the U.S. economy back into a recession. 

Optimism that a deal will be done was greeted with rallies, while pessimistic comments from lawmakers were followed by sell-offs. 

"Right now the market is just going to be held hostage as to what happens in the next five hours, versus what's going to happen in the next five years," said Dan Veru, chief investment officer at Palisade Capital Management, in Fort Lee, New Jersey. 

President Obama argued Friday that allowing taxes to rise for the middle class would amount to a "lump of coal" for Christmas, while Boehner declared that negotiations to surmount a looming fiscal cliff are going "almost nowhere." 

Speaking at a toy factory, the president said Republicans should extend existing Bush-era tax rates for households earning $250,000 or less, while allowing increases to kick in for the wealthy. On Capitol Hill, Boehner argued that Obama's latest offer ”” to raise revenue by $1.6 trillion over the next decade ”” would be a "crippling blow" to an economy that is still struggling to find its footing. 

"My sense is that investors are going to be busy reading headlines every day for the next three weeks," said Jack Ablin, chief investment officer at BMO Group in Chicago. 

Ablin says that he expects policy makers to reach a temporary agreement on the budget before year-end, before coming to a "Grand Bargain" next year. He believes improving consumer confidence and rising house prices will underpin the economy and support demand for stocks. 

Stocks are higher for the year. The Dow is up 6.5 percent, the S&P 500 index 12 percent. The indexes are on track to end the month little changed. 

Americans cut back on spending last month and saw no growth in their income, reflecting disruption from Superstorm Sandy that could hold back economic growth in the final months of the year. 

The Commerce Department reported that consumer spending dropped 0.2 percent in October. That's down from an increase of 0.8 percent in September and the weakest showing since May. 

The yield on the 10-year Treasury note was little changed at 1.62 percent. 

Among stocks making big moves: 

””Yum Brands, which owns KFC, Pizza Hut and Taco Bell, fell $7.39 to $67.08. The fast-food operator reported disappointing sales and earnings forecasts. An analyst recommended that investors sell the stock. 

””Zynga, the maker of computer games including "Farmville" and "Cityville," fell 16 cents to $2.46 after the company said late Thursday that it was loosening its relationship with Facebook. While the deal frees Zynga from having to use Facebook as the exclusive social site for its games, the company relies on Facebook for most of the revenue it generates even as it works to establish its independence. 

””VeriSign plunged $5.19 to $34.15 after the company announced the terms of its new contract to run the key directories that keep track of ".com" domain names. The company won't be allowed to raise prices on the registration of such names without government approval. 

””Duke Energy rose $1.43 to $63.82 after the company said its CEO will step down as part of a settlement with the North Carolina utilities regulator that ends an investigation into the company's takeover of in-state rival Progress Energy.

7367


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks edged lower on Wall Street Monday after a surprisingly weak manufacturing report heightened concern that fiscal deadlock in Washington is already hurting the economy. 

The Dow Jones industrial average fell 59.98 points to close at 12,965.60. The Standard and Poor's 500 dropped 6.72 points to 1,409.46. The Nasdaq composite was down 8.04 points to 3,002.20 

U.S. manufacturing declined in November to its weakest level since July 2009, the Institute for Supply Management reported. The ISM's index fell to 49.5 from 51.7 a month earlier, below the 51.2 reading forecast by analysts. Any number below 50 on the scale means that manufacturing is contracting. Businesses expressed concerns about the "fiscal cliff," a series of sharp government spending cuts and tax increases scheduled to start Jan. 1 unless an agreement is reached to cut the budget deficit. 

"The ISM numbers probably took a little air out of what was some hope for better news on where the economy is going," said Jim Dunigan, executive vice president at PNC Wealth Management in Philadelphia. "We're still in the camp that this gets resolved and we don't go over the cliff, but there's a lot of angst between now and then." 

The White House and Congress are still seeking to hammer out a budget deal that will avoid the "cliff." Republicans, led by House Speaker John Boehner, have balked at President Barack Obama's opening proposal of $1.6 trillion in higher taxes over a decade, a possible extension of the temporary Social Security payroll tax cut and heightened presidential power to raise the national debt limit. 

House Republicans on Monday proposed their own 10-year blueprint to President Barack Obama that calls for increasing the eligibility age for Medicare and lowering cost-of-living hikes for Social Security benefits. 

"There's a sense of insecurity until the President and Boehner get their act together," said Ben Schwarz, chief market strategist at New York-based brokerage Lightspeed Financial. "If they put together a package in short order, if they do it in the next couple of weeks, you'll see a strong rally." 

Stocks have fluctuated since the Nov. 6 election as investors worried that a deal may not be reached in time to avoid the tax hikes and spending cuts, which economists say could push the U.S. back into recession. The S&P 500 is still 1.3 percent below its closing level on the day that Americans went to the polls, having fallen as much as 5 percent in the weeks following the election. 

Wall Street opened higher Monday following news that manufacturing in China, the world's second-largest economy, grew for the first time in 13 months and after Greece announced details of a bond buyback program. The Dow had been up as much as 62 points shortly after the opening bell. 

*December is historically the best month for stocks.* The S&P 500 has advanced an average of 2 percent over the past 30 years during the month of December, according to research from Schaeffer's Investment Research. The next best month is April, with an average return of 1.7 percent. The worst month is September, where investors lose an average of 0.7 percent.

 *The NYSE DOW closed  	LOWER ▼	-59.98	points or ▼	-0.46%	Monday, 3 December 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,965.60	▼	-59.98	▼	-0.46%	
	Nasdaq____	3,002.20	▼	-8.04	▼	-0.27%	
	S&P_500____	1,409.46	▼	-6.72	▼	-0.47%	
	30_Yr_Bond____	2.806	▲	0.01	▲	0.43%	

NYSE Volume	 3,060,504,000 			 		 	
Nasdaq Volume	 1,666,239,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,871.24	▲	4.42	▲	0.08%	
	DAX_____	7,435.21	▲	29.71	▲	0.40%	
	CAC_40__	3,566.59	▲	9.31	▲	0.26%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,540.00	▲	22.00	▲	0.49%	
	Shanghai_Comp	1,959.77	▼	-20.35	▼	-1.03%	
	Taiwan_Weight	7,599.91	▲	19.74	▲	0.26%	
	Nikkei_225____	9,458.18	▲	12.17	▲	0.13%	
	Hang_Seng____	21,767.85	▲	53.93	▼	-1.19%	
	Strait_Times___	3,062.49	▼	-7.46	▼	-0.24%	
	NZX_50_Index__	4,049.09	▼	-1.00	▼	-0.02%	

http://finance.yahoo.com/news/stocks-edge-lower-weak-manufacturing-162959816.html

*Stocks edge lower after weak manufacturing report

Stocks edge lower report shows that "fiscal cliff" weighed on manufacturing last month*

By Steve Rothwell, AP Business Writer

Stocks edged lower on Wall Street Monday after a surprisingly weak manufacturing report heightened concern that fiscal deadlock in Washington is already hurting the economy. 

The Dow Jones industrial average fell 59.98 points to close at 12,965.60. The Standard and Poor's 500 dropped 6.72 points to 1,409.46. The Nasdaq composite was down 8.04 points to 3,002.20 

U.S. manufacturing declined in November to its weakest level since July 2009, the Institute for Supply Management reported. The ISM's index fell to 49.5 from 51.7 a month earlier, below the 51.2 reading forecast by analysts. Any number below 50 on the scale means that manufacturing is contracting. Businesses expressed concerns about the "fiscal cliff," a series of sharp government spending cuts and tax increases scheduled to start Jan. 1 unless an agreement is reached to cut the budget deficit. 

"The ISM numbers probably took a little air out of what was some hope for better news on where the economy is going," said Jim Dunigan, executive vice president at PNC Wealth Management in Philadelphia. "We're still in the camp that this gets resolved and we don't go over the cliff, but there's a lot of angst between now and then." 

The White House and Congress are still seeking to hammer out a budget deal that will avoid the "cliff." Republicans, led by House Speaker John Boehner, have balked at President Barack Obama's opening proposal of $1.6 trillion in higher taxes over a decade, a possible extension of the temporary Social Security payroll tax cut and heightened presidential power to raise the national debt limit. 

House Republicans on Monday proposed their own 10-year blueprint to President Barack Obama that calls for increasing the eligibility age for Medicare and lowering cost-of-living hikes for Social Security benefits. 

"There's a sense of insecurity until the President and Boehner get their act together," said Ben Schwarz, chief market strategist at New York-based brokerage Lightspeed Financial. "If they put together a package in short order, if they do it in the next couple of weeks, you'll see a strong rally." 

Stocks have fluctuated since the Nov. 6 election as investors worried that a deal may not be reached in time to avoid the tax hikes and spending cuts, which economists say could push the U.S. back into recession. The S&P 500 is still 1.3 percent below its closing level on the day that Americans went to the polls, having fallen as much as 5 percent in the weeks following the election. 

Wall Street opened higher Monday following news that manufacturing in China, the world's second-largest economy, grew for the first time in 13 months and after Greece announced details of a bond buyback program. The Dow had been up as much as 62 points shortly after the opening bell. 

December is historically the best month for stocks. The S&P 500 has advanced an average of 2 percent over the past 30 years during the month of December, according to research from Schaeffer's Investment Research. The next best month is April, with an average return of 1.7 percent. The worst month is September, where investors lose an average of 0.7 percent. 

The yield on the 10-year Treasury note rose 1 basis point to 1.62 percent. 

Other stocks making big moves: 

””Dell rose 42 cents, or 4.4 percent, to $10.06 after Goldman Sachs raised its rating to "Buy" from "Sell." Goldman cited Dell's healthy cash balance and said a recent decline in the stock may have been overdone. Dell has slumped this year as consumers migrated away from desktop PCs and laptops to portable devices such as tablets and phones. 

”” Health Management Associates fell 45 cents, or 5.7 percent, to $7.50 after the CBS news program "60 Minutes" broadcast a segment critical of the company's patient admission policies. The program included interviews with former employees who said HMA pressured its emergency room doctors to admit patients. 

””Supervalu jumped 30 cents, or 12.6 percent, to $2.68 following a report that private equity firm Cerberus is considering multiple options for buying parts of the struggling grocery store chain.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks closed little changed Tuesday on Wall Street as budget talks continued in Washington. 

The Dow Jones industrial average closed down 13.82 points at 12,951.78 after trading in a narrow range of just 82 points. The Standard and Poor's 500 was down 2.41 points to 1,407.05. The Nasdaq composite was down 5.51 at 2,996.69. 

Investors are waiting on developments from Washington in the budget talks, which are aimed at avoiding the "fiscal cliff." That refers to a series of sharp government spending cuts and tax increases that begin to kick in Jan. 1 and could eventually cause a recession. 

President Barack Obama said Tuesday that a proposal by House Speaker John Boehner on Monday was "still out of balance." Obama, in an interview with Bloomberg Television, insisted on higher taxes for wealthy Americans. 

Republicans, led by Boehner, have balked at Obama's proposal of $1.6 trillion in additional taxes over a decade, and Monday called for increasing the eligibility age for Medicare and lowering cost-of-living increases for Social Security benefits. 

"Politicians are doing their negotiating dance. They both start out on their extreme positions. The question is how long until they get into the middle," said Rex Macey, chief investment officer at Wilmington Trust Investment Advisors in Atlanta. 

Despite the slow pace of the talks, the stock market has gained back nearly all of a post-election slide caused by concerns about the fiscal impasse. The S&P is now about 1.5 percent below where it was on Nov. 6. In mid-November it had dropped as much as 5 percent.	 				

 *The NYSE DOW closed  	LOWER ▼	-13.82	points or ▼	-0.11%	Tuesday, 4 December 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,951.78	▼	-13.82	▼	-0.11%	
	Nasdaq____	2,996.69	▼	-5.51	▼	-0.18%	
	S&P_500____	1,407.05	▼	-2.41	▼	-0.17%	
	30_Yr_Bond____	2.780	▼	-0.03	▼	-0.93%	

NYSE Volume	 3,218,721,250 			 		 	
Nasdaq Volume	 1,784,699,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,869.04	▼	-2.20	▼	-0.04%	
	DAX_____	7,435.12	▼	-0.09	▲	0.00%	
	CAC_40__	3,580.48	▲	13.89	▲	0.39%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,511.80	▼	-28.20	▼	-0.62%	
	Shanghai_Comp	1,975.14	▲	15.38	▲	0.78%	
	Taiwan_Weight	7,600.98	▲	1.07	▲	0.01%	
	Nikkei_225____	9,432.46	▼	-25.72	▼	-0.27%	
	Hang_Seng____	21,799.97	▲	53.93	▲	0.15%	
	Strait_Times___	3,062.12	▼	-3.62	▼	-0.12%	
	NZX_50_Index__	4,015.69	▼	-33.40	▼	-0.82%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks little changed as budget talks continue

Stocks little changed on Wall Street as budget talks to avoid the fiscal "cliff" continue*

By Steve Rothwell, AP Business Writer

Stocks closed little changed Tuesday on Wall Street as budget talks continued in Washington. 

The Dow Jones industrial average closed down 13.82 points at 12,951.78 after trading in a narrow range of just 82 points. The Standard and Poor's 500 was down 2.41 points to 1,407.05. The Nasdaq composite was down 5.51 at 2,996.69. 

Investors are waiting on developments from Washington in the budget talks, which are aimed at avoiding the "fiscal cliff." That refers to a series of sharp government spending cuts and tax increases that begin to kick in Jan. 1 and could eventually cause a recession. 

President Barack Obama said Tuesday that a proposal by House Speaker John Boehner on Monday was "still out of balance." Obama, in an interview with Bloomberg Television, insisted on higher taxes for wealthy Americans. 

Republicans, led by Boehner, have balked at Obama's proposal of $1.6 trillion in additional taxes over a decade, and Monday called for increasing the eligibility age for Medicare and lowering cost-of-living increases for Social Security benefits. 

"Politicians are doing their negotiating dance. They both start out on their extreme positions. The question is how long until they get into the middle," said Rex Macey, chief investment officer at Wilmington Trust Investment Advisors in Atlanta. 

Among stocks making big moves, Darden Restaurants, owner of the Olive Garden, Red Lobster and LongHorn Steakhouse restaurant chains, fell $5.02, or 9.6 percent, to $47.40 after cutting its profit forecast for fiscal 2013. 

Separately, analysts at Credit Suisse said that restaurant-goers would "quickly lose their appetite" if the U.S. went over the "cliff" because the job cuts that would likely follow would curb discretionary spending. 

Stock trading will likely become increasingly more volatile the longer talks progress without a deal, said JJ Kinahan, chief derivatives strategist at TD Ameritrade. 

"If you looked back a week ago, most people were under the impression that we'd get this solved fairly quickly," Kinahan said. "There hasn't really been any positive news, or any positive movement, in the last few days, and with that it makes people more and more nervous." 

Despite the slow pace of the talks, the stock market has gained back nearly all of a post-election slide caused by concerns about the fiscal impasse. The S&P is now about 1.5 percent below where it was on Nov. 6. In mid-November it had dropped as much as 5 percent. 

Bill Gross, the managing director of fund manager PIMCO, told investors in his regular newsletter that they should expect annualized bond returns of 3 to 4 percent at best in the future and stock returns that are "only a few percentage points higher." 

The S&P 500 has risen 12 percent this year. High debt levels and slowing global growth will weigh on the economy, Gross said. 

The yield on the 10-year Treasury note fell 1 basis point to 1.61 percent. 

Among other stocks making big moves: 

”” Big Lots gained $3.23, or 11.5 percent, to $31.27 after the discount retailer raised its full-year earnings forecast and reported a loss that wasn't as bad as analysts had expected. 

”” Pep Boys fell $1.11, or 10.4 percent, to $9.57 after posting a loss on weak sales at the company's auto stores and reporting rising costs. 

”” MetroPCS fell 81 cents, or 7.5 percent, to $9.96 after Reuters reported that Sprint isn't currently considering making a counter offer for the cellphone business. MetroPCS and T-Mobile said in October that they had agreed to combine their businesses.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks closed higher Wednesday, their first gain of the week, as bank shares rose and comments by President Barack Obama made investors optimistic that a quick deal could be made to avoid the "fiscal cliff." 

The Dow Jones industrial average rose 82.71 points to end at 13,034.49. It had been up as much as 137. The Standard and Poor's 500 closed up 2.23 points to 1,409.28. The Nasdaq composite was down 22.99 points to 2,973.70, held back by a slump in Apple. 

Citigroup jumped $2.17, or 6.3 percent, to $36.46 after the bank said it plans to eliminate more than 11,000 jobs, or about 4 percent of its workforce, to cut expenses and improve efficiency. Travelers surged $3.47, or 4.9 percent, to $74 after it announced plans to resume stock buybacks. Travelers temporarily suspended repurchases following Superstorm Sandy while it assessed its exposure to damage claims. 

"We can probably solve this in about a week, it's not that tough," Obama said in lunchtime remarks to the Business Roundtable in Washington. The comments, made just before noon, helped push the market higher, said Quincy Crosby, a market strategist at Prudential Financial. 

Stocks have largely traded sideways for two weeks as investors wait for developments from Washington on crucial budget talks to avoid the "fiscal cliff," a series of sharp government spending cuts and tax increases scheduled to start Jan. 1 unless an agreement is reached to cut the budget deficit. Economists say that the measures, if implemented, could push the U.S. back into recession. 

Apple was among the decliners, falling $37.05, or 6.4 percent, to $538.79. Stifel Financial analyst Aaron Rakers said the drop was in part due to comments from AT&T Mobility chief executive officer Ralph de La Vega, which suggested that smartphone activations this quarter were lagging the same period a year ago. The stock has now dropped 23 percent since closing at a record $702.10 in September. 

Stocks are still up on the year, after the Federal Reserve extended its bond-buying program in September, offsetting concern that the European debt crisis was set to spread. The Dow has gained 7 percent and S&P 500 has advanced 12 percent. 

 *The NYSE DOW closed  	HIGHER ▲	82.71	points or ▲	0.64%	Wednesday, 5 December 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,034.49	▲	82.71	▲	0.64%	
	Nasdaq____	2,973.70	▼	-22.99	▼	-0.77%	
	S&P_500____	1,409.28	▲	2.23	▲	0.16%	
	30_Yr_Bond____	2.779	▼	0.00	▼	-0.04%	

NYSE Volume	 4,141,433,000 			 		 	
Nasdaq Volume	 1,798,903,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,892.08	▲	23.04	▲	0.39%	
	DAX_____	7,454.55	▲	19.43	▲	0.26%	
	CAC_40__	3,590.50	▲	10.02	▲	0.28%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,528.00	▲	16.20	▲	0.36%	
	Shanghai_Comp	2,031.91	▲	56.76	▲	2.87%	
	Taiwan_Weight	7,649.05	▲	48.07	▲	0.63%	
	Nikkei_225____	9,468.84	▲	36.38	▲	0.39%	
	Hang_Seng____	22,270.91	▲	53.93	▲	2.16%	
	Strait_Times___	3,073.94	▲	11.82	▲	0.39%	
	NZX_50_Index__	4,007.25	▼	-8.45	▼	-0.21%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks gain on "cliff" hope, led by banks

Stocks close higher, led by banks and other financial companies, on "fiscal cliff" optimism*

Stocks closed higher Wednesday, their first gain of the week, as bank shares rose and comments by President Barack Obama made investors optimistic that a quick deal could be made to avoid the "fiscal cliff."

The Dow Jones industrial average rose 82.71 points to end at 13,034.49. It had been up as much as 137. The Standard and Poor's 500 closed up 2.23 points to 1,409.28. The Nasdaq composite was down 22.99 points to 2,973.70, held back by a slump in Apple. 

Citigroup jumped $2.17, or 6.3 percent, to $36.46 after the bank said it plans to eliminate more than 11,000 jobs, or about 4 percent of its workforce, to cut expenses and improve efficiency. Travelers surged $3.47, or 4.9 percent, to $74 after it announced plans to resume stock buybacks. Travelers temporarily suspended repurchases following Superstorm Sandy while it assessed its exposure to damage claims. 

"We can probably solve this in about a week, it's not that tough," Obama said in lunchtime remarks to the Business Roundtable in Washington. The comments, made just before noon, helped push the market higher, said Quincy Crosby, a market strategist at Prudential Financial. 

Stocks have largely traded sideways for two weeks as investors wait for developments from Washington on crucial budget talks to avoid the "fiscal cliff," a series of sharp government spending cuts and tax increases scheduled to start Jan. 1 unless an agreement is reached to cut the budget deficit. Economists say that the measures, if implemented, could push the U.S. back into recession. 

Apple was among the decliners, falling $37.05, or 6.4 percent, to $538.79. Stifel Financial analyst Aaron Rakers said the drop was in part due to comments from AT&T Mobility chief executive officer Ralph de La Vega, which suggested that smartphone activations this quarter were lagging the same period a year ago. The stock has now dropped 23 percent since closing at a record $702.10 in September. 

Stocks are still up on the year, after the Federal Reserve extended its bond-buying program in September, offsetting concern that the European debt crisis was set to spread. The Dow has gained 7 percent and S&P 500 has advanced 12 percent. 

"The market will hold on to its gains for the year. Given the uncertainty I don't see any compelling reasons for an increase," said Brian Gendreau, a market strategist with Cetera Financial Group, a Los Angeles-based broker. "But that could change in a blink. If there's better-than-expected news from these negotiations, the market could pop." 

A Chinese government pledge to maintain policies intended to strengthen the world's second-largest economy helped raise optimism about global growth. China's Shanghai Composite Index jumped 2.9 percent to 2,031.91. Hong Kong's Hang Seng ended 2.2 percent higher at 22,270.91. 

A private survey showed Wednesday that U.S. businesses added fewer workers in November, in part because Superstorm Sandy shut down factories, retail stores, and other companies. Payroll processor ADP said employers added 118,000 jobs last month. That's below October's total of 157,000, which was revised lower. Investors will also look to the monthly jobs report from the Labor Department Friday for more information about how the economy is doing. 

Orders to U.S. factories rose modestly in October, helped by a big gain in demand for equipment that reflects business investment plans. Factory orders edged up 0.8 percent in October, the Commerce Department said Wednesday. That followed a 4.5 percent jump in September. 

The yield on the 10-year Treasury note fell 1 basis points to 1.59 percent. 

Among other stocks making big moves: 

””Freeport-McMoRan Copper & Gold plunged $6.12, or 16 percent, to $32.16 after the mining company said it is buying oil companies Plains Exploration & Production and McMoRan Exploration for about $9 billion. 

””Mattress Firm Holding Corp. fell $6.65, or 22 percent, to $23.67 after the mattress retailer said late Tuesday that sales trends were softening. 

””Pandora Media, an internet radio company, fell $1.65, or 17.5 percent, to $7.80 after saying it would make a much larger loss in the fourth quarter than analysts had been forecasting.


----------



## bigdog

Source: http://finance.yahoo.com 

Apple and other technology companies led the stock market up for the second day in a row Thursday. 

The gains came a day after Apple took its worst fall in four years. In separate interviews, CEO Tim Cook said Apple will produce one of its Mac computers in the United States next year and will spend $100 million in 2013 to shift production of the line from China. 

The tech giant's stock gained $8.45 to $547.24 

The Dow Jones industrial average rose 39.55 points to close at 13,074.04. Intel led the Dow, rising 31 cents to $20.16. 

Investors' biggest concern remains the automatic tax increases and federal spending cuts scheduled to start Jan. 1. "Everybody is paying close attention to the soap opera in Washington," said John Canally, investment strategist and economist at LPL Financial. 

President Barack Obama said Wednesday that the White House and Republicans could reach an agreement "in about a week" if the Republicans drop their opposition to raising taxes on making more than $250,000 a year. 

Most investors believe President Obama and Congressional Republicans will strike a budget deal to avoid this "fiscal cliff" before the year is out. Until they reach an agreement, however, the stock market will likely be hostage to news out of Washington. 

In other trading, the Standard & Poor's 500 index rose 4.66 points to 1,413.94, while the Nasdaq composite climbed 15.57 points to 2,989.27. In the market for U.S. government bonds, the yield on the 10-year Treasury note ended the day at 1.59 percent, the same as late Wednesday. 

The U.S. Labor Department said unemployment benefits applications dropped 25,000 last week to 370,000, a level consistent with modest hiring. The decline was also a sign that the spike in applications caused by Superstorm Sandy has faded.

 *The NYSE DOW closed  	HIGHER ▲	39.55	points or ▲	0.30%	Thursday, 6 December 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,074.04	▲	39.55	▲	0.30%	
	Nasdaq____	2,989.27	▲	15.57	▲	0.52%	
	S&P_500____	1,413.94	▲	4.66	▲	0.33%	
	30_Yr_Bond____	2.765	▼	-0.01	▼	-0.50%	

NYSE Volume	 3,176,896,250 			 		 	
Nasdaq Volume	 1,692,908,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,901.42	▲	9.34	▲	0.16%	
	DAX_____	7,534.54	▲	79.99	▲	1.07%	
	CAC_40__	3,601.65	▲	11.15	▲	0.31%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,515.70	▼	-12.30	▼	-0.27%	
	Shanghai_Comp	2,029.24	▼	-2.67	▼	-0.13%	
	Taiwan_Weight	7,623.26	▼	-25.79	▼	-0.34%	
	Nikkei_225____	9,545.16	▲	76.32	▲	0.81%	
	Hang_Seng____	22,249.81	▲	53.93	▼	-0.09%	
	Strait_Times___	3,078.23	▲	2.31	▲	0.08%	
	NZX_50_Index__	4,023.36	▲	16.11	▲	0.40%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks edge up as investors keep eye on Washington

Market indexes eke out gains with no developments in Washington; Apple climbs after big fall*

By Matthew Craft, AP Business Writer 

Apple and other technology companies led the stock market up for the second day in a row Thursday. 

The gains came a day after Apple took its worst fall in four years. In separate interviews, CEO Tim Cook said Apple will produce one of its Mac computers in the United States next year and will spend $100 million in 2013 to shift production of the line from China. 

The tech giant's stock gained $8.45 to $547.24 

The Dow Jones industrial average rose 39.55 points to close at 13,074.04. Intel led the Dow, rising 31 cents to $20.16. 

Investors' biggest concern remains the automatic tax increases and federal spending cuts scheduled to start Jan. 1. "Everybody is paying close attention to the soap opera in Washington," said John Canally, investment strategist and economist at LPL Financial. 

President Barack Obama said Wednesday that the White House and Republicans could reach an agreement "in about a week" if the Republicans drop their opposition to raising taxes on making more than $250,000 a year. 

Most investors believe President Obama and Congressional Republicans will strike a budget deal to avoid this "fiscal cliff" before the year is out. Until they reach an agreement, however, the stock market will likely be hostage to news out of Washington. 

In other trading, the Standard & Poor's 500 index rose 4.66 points to 1,413.94, while the Nasdaq composite climbed 15.57 points to 2,989.27. In the market for U.S. government bonds, the yield on the 10-year Treasury note ended the day at 1.59 percent, the same as late Wednesday. 

The U.S. Labor Department said unemployment benefits applications dropped 25,000 last week to 370,000, a level consistent with modest hiring. The decline was also a sign that the spike in applications caused by Superstorm Sandy has faded. 

The government will release its closely watched monthly jobs report Friday. Private economists forecast that hiring in November sank from the previous month. They expect the unemployment rate to remain unchanged at 7.9 percent. 

More companies announced plans to reward investors with dividends this month in case taxes rise next year. 

Sirius XM Radio said it will issue a one-time dividend of 5 cents per share at the end of the month and spend up to $2 billion buying back its stock. Safeway shifted a payment scheduled for January to Dec. 31. And Landstar Systems, a transportation company, will pay shareholders 50 cents a share this month instead of paying dividends for the next two years. 

Dividends, now taxed at 15 percent, will be treated like ordinary income next year unless Congress and the White House extend current tax breaks as part of a budget deal. 

Among other stocks making moves: 

”” Akamai Technologies jumped 10 percent, the best gain in the S&P 500 index. Akamai, which helps websites work faster, forged a partnership with AT&T to deliver online content. Its stock gained $3.56 to $39.06. 

”” H&R Block surged 5 percent after posting revenue and earnings that beat analysts' estimates. The country's largest tax preparation company reported a smaller loss, helped by cost-cutting efforts. It typically turns in a loss in the August-to-October period because it takes in most of its revenue during the U.S. tax season. H&R Block gained 89 cents to $18.26. 

”” The Men's Wearhouse dropped 84 cents to $30.51. The clothing company posted third-quarter results missed Wall Street's estimates and cut its profit estimates for the fourth quarter and full year.


----------



## bigdog

Source: http://finance.yahoo.com 

Apple spoiled the stock market's party on Friday. 

Stocks shot higher in the early morning, after the government reported that the U.S. added jobs in November. But Apple, which has been flailing in recent weeks as investors wonder how long its momentum can continue, dragged down the indexes that it's part of. 

The Dow Jones industrial average, which doesn't include Apple, rose. The Standard & Poor's 500 and Nasdaq, which do, were less impressive. The S&P rose by a smaller amount, and the Nasdaq fell. 

The headline numbers from the jobs report sent the market higher in early trading. The Labor Department said the U.S. added 146,000 jobs last month, more than economists had expected. The unemployment rate fell to 7.7 percent from 7.9 percent, the lowest in nearly four years. 

The overall report, however, painted a more restrained view of the economy. 

"If you delve into that report a little more, there are some disturbing issues," said Brian Lund, who is based in Los Angeles as executive vice president and co-founder of the online brokerage Ditto Trade. 

Among them: The unemployment rate fell largely because discouraged unemployed workers stopped looking for work, which meant they were no longer counted among the unemployed. Also, the Labor Department revised previously released jobs numbers downward, saying that employers added 49,000 fewer jobs in October and September than initially estimated. 

Lund also wasn't so sure about the government's statement that Hurricane Sandy "did not substantively impact" the unemployment numbers. He expected Sandy's detrimental effects to show up in jobs reports over the next couple of months, as businesses figure out their post-storm plans. 

"If you have Sandy, you don't automatically lose your job," Lund said. "Businesses take time to say, 'Oh, what's going on, can we go forward, do we need to cut people to survive? It's not until later that they start laying off." 

Nicholas Colas, chief market strategist for ConvergEx in New York, was similarly unimpressed by the jobs numbers. In a note to clients, he said U.S. unemployment seems to be more consistent with "an ongoing recession than expansion." 

In the recession of the early 1990s and its aftermath, the highest rate of unemployment was 7.8 percent. In the recession of the early 2000s and its aftermath, the unemployment rate never got above 6.3 percent. 

This time has been harsher. In late 2009, shortly after the recession officially ended, the unemployment rate peaked at 10 percent. For two years after that, it stayed above 9 percent. 

At the end of the day, the Dow was up 81.09 points to 13,155.13. The S&P 500, where Apple's weight is 4 percent, was up but by a smaller proportion, rising 4.13 to 1,418.07. The Nasdaq composite index, where Apple accounts for a hefty 12 percent, fell 11.23 to 2,978.04. 

Apple fell $13.99 to $533.25, or 2.6 percent. That's part of a longer trend: Apple's stock has plunged nearly 24 percent since the iPhone 5 went on sale Sept. 21. Investors are wondering how long the company can keep the momentum going with its popular iPhone and iPad devices. 

 *The NYSE DOW closed  	HIGHER ▲	81.09	points or ▲	0.62%	Friday, 7 December 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,155.13	▲	81.09	▲	0.62%	
	Nasdaq____	2,978.04	▼	-11.23	▼	-0.38%	
	S&P_500____	1,418.07	▲	4.13	▲	0.29%	
	30_Yr_Bond____	2.814	▲	0.05	▲	1.77%	

NYSE Volume	 3,086,904,250 			 		 	
Nasdaq Volume	 1,588,778,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,914.40	▲	12.98	▲	0.22%	
	DAX_____	7,517.80	▼	-16.74	▼	-0.22%	
	CAC_40__	3,605.61	▲	3.96	▲	0.11%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,555.90	▲	40.20	▲	0.89%	
	Shanghai_Comp	2,061.79	▲	32.55	▲	1.60%	
	Taiwan_Weight	7,642.26	▲	19.00	▲	0.25%	
	Nikkei_225____	9,527.39	▼	-17.77	▼	-0.19%	
	Hang_Seng____	22,191.17	▲	53.93	▼	-0.26%	
	Strait_Times___	3,107.11	▲	28.91	▲	0.94%	
	NZX_50_Index__	4,041.53	▲	18.16	▲	0.45%	

http://finance.yahoo.com/news/apple...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Apple holds back S&P, Nasdaq; Dow ends higher

Stocks mostly rise as investors work through inconclusive jobs report; Apple spoils the party*

By Christina Rexrode, AP Business Writer

Apple spoiled the stock market's party on Friday. 

Stocks shot higher in the early morning, after the government reported that the U.S. added jobs in November. But Apple, which has been flailing in recent weeks as investors wonder how long its momentum can continue, dragged down the indexes that it's part of. 

The Dow Jones industrial average, which doesn't include Apple, rose. The Standard & Poor's 500 and Nasdaq, which do, were less impressive. The S&P rose by a smaller amount, and the Nasdaq fell. 

The headline numbers from the jobs report sent the market higher in early trading. The Labor Department said the U.S. added 146,000 jobs last month, more than economists had expected. The unemployment rate fell to 7.7 percent from 7.9 percent, the lowest in nearly four years. 

The overall report, however, painted a more restrained view of the economy. 

"If you delve into that report a little more, there are some disturbing issues," said Brian Lund, who is based in Los Angeles as executive vice president and co-founder of the online brokerage Ditto Trade. 

Among them: The unemployment rate fell largely because discouraged unemployed workers stopped looking for work, which meant they were no longer counted among the unemployed. Also, the Labor Department revised previously released jobs numbers downward, saying that employers added 49,000 fewer jobs in October and September than initially estimated. 

Lund also wasn't so sure about the government's statement that Hurricane Sandy "did not substantively impact" the unemployment numbers. He expected Sandy's detrimental effects to show up in jobs reports over the next couple of months, as businesses figure out their post-storm plans. 

"If you have Sandy, you don't automatically lose your job," Lund said. "Businesses take time to say, 'Oh, what's going on, can we go forward, do we need to cut people to survive? It's not until later that they start laying off." 

Nicholas Colas, chief market strategist for ConvergEx in New York, was similarly unimpressed by the jobs numbers. In a note to clients, he said U.S. unemployment seems to be more consistent with "an ongoing recession than expansion." 

In the recession of the early 1990s and its aftermath, the highest rate of unemployment was 7.8 percent. In the recession of the early 2000s and its aftermath, the unemployment rate never got above 6.3 percent. 

This time has been harsher. In late 2009, shortly after the recession officially ended, the unemployment rate peaked at 10 percent. For two years after that, it stayed above 9 percent. 

At the end of the day, the Dow was up 81.09 points to 13,155.13. The S&P 500, where Apple's weight is 4 percent, was up but by a smaller proportion, rising 4.13 to 1,418.07. The Nasdaq composite index, where Apple accounts for a hefty 12 percent, fell 11.23 to 2,978.04. 

Apple fell $13.99 to $533.25, or 2.6 percent. That's part of a longer trend: Apple's stock has plunged nearly 24 percent since the iPhone 5 went on sale Sept. 21. Investors are wondering how long the company can keep the momentum going with its popular iPhone and iPad devices. 

Outside of Apple, there's another significant cloud hanging over the market. Congress and the White House are trying to hammer out an agreement on government spending and tax rates before Jan. 1. If they don't, lower government spending and higher taxes will kick in, a situation that's been nicknamed the "fiscal cliff." 

The fiscal cliff is already taking a toll on people's confidence and making them nervous about spending, said Bernie Williams, vice president of discretionary money management at USAA Investments in San Antonio, Texas. He pointed to recent announcements from retailers like Target and Kohl's, both of which reported lower November sales, even though analysts had expected increases. 

"There are more things on the plate to worry about than normal," Williams said. "The consumer is weak, their confidence is being hit by the fiscal cliff, and then more importantly, you look ahead to next year and all the taxes are (likely) rising. ... If you're a paycheck-to-paycheck person, that's going to hurt." 

Traders have been indecisive as well. In the 22 trading days since the presidential election, the Dow has been up 11 and down 11. 

AIG, the bailed-out insurance company, rose more than 2 percent, up 87 cents to $34.13. A group of Chinese companies is in talks to buy AIG's aircraft leasing unit, which could help AIG raise cash to pay off more of its government loans. 

The yield on the benchmark 10-year Treasury note rose to 1.63 percent from 1.59 percent late Thursday, a sign that investors were putting more money in stocks.

7900


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks edged higher Monday on Wall Street after a strong sales report from McDonald's offset concerns about the surprise resignation of Italy's prime minister. Investors also waited for developments in crucial U.S. budget talks.

The Dow Jones industrial average rose 14.75 points to 13,169.88. The index traded within a narrow range of just 56 points throughout the day. The Standard and Poor's 500 finished 0.48 point higher at 1,418.55. The Nasdaq composite ended up 8.92 points at 2,986.96.

McDonald's rose 93 cents to $89.41. A key sales figure rose in November as U.S. customers bought more breakfast offerings and limited-time Cheddar Bacon Onion sandwiches.

Robert Pavlik, chief market strategist at Palm Beach, Fla.-based Banyan Partners, said the company's strength was encouraging. McDonald's, one of the 30 stocks in the Dow, was trading as high as $100 at the beginning of 2012.

The pickup in McDonald's sales, he said, gave investors something positive to focus on as Italy's sudden political turmoil sent a jolt through European markets.

Hewlett-Packard rose 36 cents to $14.16 and also helped push the Dow higher. The company's stock has been battered the past two months following a weak earnings forecast and a public spat with the founder of Autonomy, a company it acquired for $10 billion last year.

Italian Prime Minister Mario Monti, who has been credited with restoring confidence in the nation's economy, announced that he would step down after former Prime Minister Silvio Berlusconi's party dropped its support for his government.

Italian government bond yields, a critical measure of how much the country has to pay to borrow, jumped. Concern that the European debt crisis was enveloping Italy, one of the euro region's largest economies, helped stymie markets around the world earlier in the year.

Investors were also following developments in budget talks in Washington. Tax increases and federal spending cuts start Jan. 1 unless a deal is reached to reduce the U.S. budget deficit. Economists say the measures, if implemented, could eventually push the economy back into recession.

The yield on the 10-year Treasury note fell 1 basis point to 1.62 percent.

President Barack Obama and House Speaker John Boehner met at the White House on Sunday while rank-and-file Republicans stepped forward with what they called pragmatic ideas to break the stalemate. The Obama-Boehner meeting was the first between just the two leaders since Election Day.

 *The NYSE DOW closed  	HIGHER ▲	14.75	points or ▲	0.11%	Monday, 10 December 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,169.88	▲	14.75	▲	0.11%	
	Nasdaq____	2,986.96	▲	8.92	▲	0.30%	
	S&P_500____	1,418.55	▲	0.48	▲	0.03%	
	30_Yr_Bond____	2.803	▼	-0.01	▼	-0.39%	

NYSE Volume	 3,001,334,500 			 		 	
Nasdaq Volume	 1,537,692,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,921.63	▲	7.23	▲	0.12%	
	DAX_____	7,530.92	▲	13.12	▲	0.17%	
	CAC_40__	3,612.10	▲	6.49	▲	0.18%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,562.40	▲	6.50	▲	0.14%	
	Shanghai_Comp	2,083.77	▲	21.98	▲	1.07%	
	Taiwan_Weight	7,609.50	▼	-32.76	▼	-0.43%	
	Nikkei_225____	9,533.75	▲	6.36	▲	0.07%	
	Hang_Seng____	22,276.72	▲	53.93	▲	0.39%	
	Strait_Times___	3,114.34	▲	7.23	▲	0.23%	
	NZX_50_Index__	4,030.77	▼	-10.75	▼	-0.27%	

http://news.yahoo.com/stocks-edge-higher-dow-boosted-mcdonalds-200635123--finance.html

*Stocks edge higher; Dow boosted by McDonald's*

By By STEVE ROTHWELL

Stocks edged higher Monday on Wall Street after a strong sales report from McDonald's offset concerns about the surprise resignation of Italy's prime minister. Investors also waited for developments in crucial U.S. budget talks.

The Dow Jones industrial average rose 14.75 points to 13,169.88. The index traded within a narrow range of just 56 points throughout the day. The Standard and Poor's 500 finished 0.48 point higher at 1,418.55. The Nasdaq composite ended up 8.92 points at 2,986.96.

McDonald's rose 93 cents to $89.41. A key sales figure rose in November as U.S. customers bought more breakfast offerings and limited-time Cheddar Bacon Onion sandwiches.

Robert Pavlik, chief market strategist at Palm Beach, Fla.-based Banyan Partners, said the company's strength was encouraging. McDonald's, one of the 30 stocks in the Dow, was trading as high as $100 at the beginning of 2012.

The pickup in McDonald's sales, he said, gave investors something positive to focus on as Italy's sudden political turmoil sent a jolt through European markets.

Hewlett-Packard rose 36 cents to $14.16 and also helped push the Dow higher. The company's stock has been battered the past two months following a weak earnings forecast and a public spat with the founder of Autonomy, a company it acquired for $10 billion last year.

Italian Prime Minister Mario Monti, who has been credited with restoring confidence in the nation's economy, announced that he would step down after former Prime Minister Silvio Berlusconi's party dropped its support for his government.

Italian government bond yields, a critical measure of how much the country has to pay to borrow, jumped. Concern that the European debt crisis was enveloping Italy, one of the euro region's largest economies, helped stymie markets around the world earlier in the year.

Investors were also following developments in budget talks in Washington. Tax increases and federal spending cuts start Jan. 1 unless a deal is reached to reduce the U.S. budget deficit. Economists say the measures, if implemented, could eventually push the economy back into recession.

The yield on the 10-year Treasury note fell 1 basis point to 1.62 percent.

President Barack Obama and House Speaker John Boehner met at the White House on Sunday while rank-and-file Republicans stepped forward with what they called pragmatic ideas to break the stalemate. The Obama-Boehner meeting was the first between just the two leaders since Election Day.

"There's a pretty good belief that the 'fiscal cliff' can be avoided," said Craig Johnson, a technical market strategist at Piper Jaffray. "Anytime somebody is talking, it's a good thing."

Other stocks making big moves:

”” Priceline.com fell $33.14, or 5 percent, to $625.96 after Deutsche Bank cut its recommendation on the stock to "hold" from "buy" and lowered its price target to $710 from $800.

”” Phillips 66, the refining and pipeline company, gained $1.24, or 2.4 percent, to $53.58 after saying late Friday that it was raising its quarterly dividend to 31.25 cents per share from 25 cents. The company also said it had approved the repurchase of another $1 billion in company stock, after approving the repurchase of $1 billion during the first quarter.

”” Intermec, a maker of barcode printers and radio frequency identification products, jumped $1.85, or 23.2 percent, to $9.83 after it agreed to be acquired by Honeywell for about $603.4 million in cash.

”” AIG fell 74 cents, or 2.3 percent, to $33.36 after the insurer said late Friday that it will take $1.3 billion in losses related to Superstorm Sandy, more than other major insurance companies have reported so far. UBS said in a client note that AIG's Sandy-related losses were above his estimate and cut his price target to $35 from $36.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market showed signs of life Tuesday following hopeful signs of progress in budget talks being held in Washington. The Standard & Poor's 500 had its biggest gain this month. 

The Dow gained 78.56 points to 13,248.44, after climbing as much as 137 points earlier. The Standard & Poor's 500 index finished up 9.29 points at 1,427.84. Both the Dow and the S&P have risen for five straight days. 

The Nasdaq composite ended up 35.34 points at 3,022.30. 

Delta Air Lines rose 52 cents, or 5.1 percent, to $10.66 after the company said it will buy almost half of Richard Branson's Virgin Atlantic for $360 million as it seeks a bigger share of the lucrative New York-to-London travel market. 

AIG gained $1.90 to $35.26 after the U.S. Treasury Department said it has sold the rest of its stake in the insurer. AIG was bailed out by the government after nearly collapsing during the 2008 financial crisis. 

Stocks have edged up since the start of the month as investors watch for developments in the budget talks. Tax increases and federal spending cuts are scheduled to start Jan. 1 unless a deal is reached to reduce the U.S. budget deficit. Economists say the measures, if implemented, could eventually push the economy back into recession. 

The S&P 500 fell as much as 5 percent after the U.S. presidential election Nov. 6 as investors worried that gridlock in Washington would prevent a budget deal. With Tuesday's advance, the S&P 500 has recouped almost all of the ground it lost since the election when it closed at 1,428.39. 

The Wall Street Journal reported that budget negotiations between the White House and Republican House Speaker John Boehner had "progressed steadily" in recent days. That reinvigorated talks that appeared to have stalled, the paper reported, citing people close to the process. 

Stock markets stayed higher even after Boehner said midday Tuesday that President Barack Obama is slow-walking talks to avoid the fiscal cliff, and hasn't outlined spending cuts he's willing to support as part of a compromise. Senate Majority Leader Harry Reid said Tuesday afternoon that it would be "extremely difficult" to pass legislation to address the so-called fiscal cliff before Christmas, but added there's still a chance it can be done. 

"The market has been very susceptible to 'fiscal cliff' headlines," said Todd Salamone, a senior vice president at Schaeffers Investment Research, adding that stocks have rallied more on good news than they have fallen on indications that talks were stalling. "It seems the expectation is that something will get done, but it's a very cautious expectation. There's a lot of money on the sidelines." 

Stocks are holding on to their gains for the year. The Dow Jones is up 8.4 percent since the start of the year, while the S&P 500 has gained 13.5 percent. 

 *The NYSE DOW closed  	HIGHER ▲	78.56	points or ▲	0.60%	Tuesday, 11 December 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,248.44	▲	78.56	▲	0.60%	
	Nasdaq____	3,022.30	▲	35.34	▲	1.18%	
	S&P_500____	1,427.84	▲	9.29	▲	0.65%	
	30_Yr_Bond____	2.837	▲	0.03	▲	1.21%	

NYSE Volume	 3,620,448,750 			 		 	
Nasdaq Volume	 1,926,205,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,924.97	▲	3.34	▲	0.06%	
	DAX_____	7,589.75	▲	58.83	▲	0.78%	
	CAC_40__	3,646.15	▲	34.05	▲	0.94%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,581.30	▲	18.90	▲	0.41%	
	Shanghai_Comp	2,074.70	▼	-9.07	▼	-0.44%	
	Taiwan_Weight	7,613.69	▲	4.19	▲	0.06%	
	Nikkei_225____	9,525.32	▼	-8.43	▼	-0.09%	
	Hang_Seng____	22,323.94	▲	53.93	▲	0.21%	
	Strait_Times___	3,118.33	▲	3.99	▲	0.13%	
	NZX_50_Index__	4,026.18	▼	-4.59	▼	-0.11%	

http://finance.yahoo.com/news/stocks-gain-budget-talk-optimism-185207642.html

*Stocks gain on budget talk optimism, Fed stimulus

Stocks gain on optimism that budget talks are advancing; Fed likely to extend stimulus*

By Steve Rothwell, AP Business Writer

The stock market showed signs of life Tuesday following hopeful signs of progress in budget talks being held in Washington. The Standard & Poor's 500 had its biggest gain this month. 

The Dow gained 78.56 points to 13,248.44, after climbing as much as 137 points earlier. The Standard & Poor's 500 index finished up 9.29 points at 1,427.84. Both the Dow and the S&P have risen for five straight days. 

The Nasdaq composite ended up 35.34 points at 3,022.30. 

Delta Air Lines rose 52 cents, or 5.1 percent, to $10.66 after the company said it will buy almost half of Richard Branson's Virgin Atlantic for $360 million as it seeks a bigger share of the lucrative New York-to-London travel market. 

AIG gained $1.90 to $35.26 after the U.S. Treasury Department said it has sold the rest of its stake in the insurer. AIG was bailed out by the government after nearly collapsing during the 2008 financial crisis. 

Stocks have edged up since the start of the month as investors watch for developments in the budget talks. Tax increases and federal spending cuts are scheduled to start Jan. 1 unless a deal is reached to reduce the U.S. budget deficit. Economists say the measures, if implemented, could eventually push the economy back into recession. 

The S&P 500 fell as much as 5 percent after the U.S. presidential election Nov. 6 as investors worried that gridlock in Washington would prevent a budget deal. With Tuesday's advance, the S&P 500 has recouped almost all of the ground it lost since the election when it closed at 1,428.39. 

The Wall Street Journal reported that budget negotiations between the White House and Republican House Speaker John Boehner had "progressed steadily" in recent days. That reinvigorated talks that appeared to have stalled, the paper reported, citing people close to the process. 

Stock markets stayed higher even after Boehner said midday Tuesday that President Barack Obama is slow-walking talks to avoid the fiscal cliff, and hasn't outlined spending cuts he's willing to support as part of a compromise. Senate Majority Leader Harry Reid said Tuesday afternoon that it would be "extremely difficult" to pass legislation to address the so-called fiscal cliff before Christmas, but added there's still a chance it can be done. 

"The market has been very susceptible to 'fiscal cliff' headlines," said Todd Salamone, a senior vice president at Schaeffers Investment Research, adding that stocks have rallied more on good news than they have fallen on indications that talks were stalling. "It seems the expectation is that something will get done, but it's a very cautious expectation. There's a lot of money on the sidelines." 

Stocks are holding on to their gains for the year. The Dow Jones is up 8.4 percent since the start of the year, while the S&P 500 has gained 13.5 percent. 

The Federal Reserve is expected to announce a new bond-buying plan to support the U.S. economy with the goal of further reducing long-term interest rates and encouraging borrowing by companies and individuals. Once its two-day policy meeting ends Wednesday, the Fed is likely to say it will start buying more long-term Treasurys to replace a program that expires at year's end. 

"I would be a huge shock to the system if it wasn't continued," said Dave Abate, a senior wealth advisor with Strategic Wealth Partners in Seven Hills, Ohio. "The markets across the boards are pricing in a continuation of the stimulus." 

Investors were also encouraged by a report that showed an index of German investor optimism rose more than expected in December, suggesting market professionals think Europe's largest economy will avoid an outright recession. 

The yield on the 10-year Treasury note rose 4 basis points to 1.66 percent. 

Other stocks making big moves: 

””Urban Outfitters rose $1.65, or 4.5 percent, to $38.65 after the company reported rising sales. The retailer, which operates Anthropologie, Free People and its namesake stores, reported its third-quarter results in November, which fell just short of market expectations. 

””Dollar General fell $3.63, or 7.8 percent, to $42.94 after the company said that while its sales over the Thanksgiving weekend and the start of the holiday shopping season were encouraging, it remains cautious about the rest of the year, noting that consumer spending remains tight. 

”” TripAdvisor jumped $2.52, or 6.6 percent, to $40.91. Liberty Interactive agreed to increase its stake in the travel website by buying a block of shares from media mogul Barry Diller and The Diller-von Furstenberg Family Foundation. Liberty will gain control of the company.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks ended the day little changed Wednesday after a rally prompted by the Federal Reserve's latest economic stimulus program fizzled out. 

The Dow Jones industrial average closed down 2.99 points at 13,245.45. It had risen as much as 81 points after the Fed said earlier in the day that it would extend a bond-buying plan and keep interest extremely low. 

The S&P finished 0.64 points higher at 1,428.48. The Nasdaq composite was down 8.49 points at 3,013.81. 

The Fed said it will keep spending $85 billion a month on bond purchases to drive down long-term borrowing costs and stimulate economic growth. Of that amount it will spend $45 billion on long-term Treasury purchases to replace a previous bond-buying program of equal size. 

The central bank also said it would keep its key short-term interest rate near zero at least until the unemployment rate drops below 6.5 percent or inflation rises to 2.5 percent. Previously, it had said that it expects to keep the rate low until at least mid-2015. 

The enthusiasm over the Fed's announcement, which came at 12:30 p.m. EST, was short-lived. It briefly drew investors' attention away from the tense, high-level budget talks taking place in Washington. Also, the amount of bond buying the central bank said it would undertake was in line with what investors were expecting, Joseph Tanious, a Global Market Strategist with J.P. Morgan Funds, said. 

"I don't think you're seeing markets react hugely" to the Fed, Tanious said. "Clearly what is driving markets right now is the fiscal policy. What's holding markets hostage....is uncertainty around the fiscal cliff." 

In Washington, lawmakers were still trying to reach a deal to avoid the fiscal "cliff," a series of sharp tax increases and spending cuts that will hit the economy in January if Congress and President Barack Obama are unable to thrash out an agreement to reduce the U.S. budget deficit. 

The Dow and the S&P advanced for the previous five days as optimism increased that a deal can be struck. The S&P is trading at its highest in five weeks and has now erased all of its post-election losses. Stocks fell immediately after the vote Nov. 6 on concern that a divided government would struggle to resolve the budget issue. 

 *The NYSE DOW closed  	LOWER ▼	-2.99	points or ▼	-0.02%	Wednesday, 12 December 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,245.45	▼	-2.99	▼	-0.02%	
	Nasdaq____	3,013.81	▼	-8.49	▼	-0.28%	
	S&P_500____	1,428.48	▲	0.64	▲	0.04%	
	30_Yr_Bond____	2.897	▲	0.06	▲	2.11%	

NYSE Volume	 3,678,695,500 			 		 	
Nasdaq Volume	 1,755,775,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,945.85	▲	20.88	▲	0.35%	
	DAX_____	7,614.79	▲	25.04	▲	0.33%	
	CAC_40__	3,646.66	▲	0.51	▲	0.01%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,591.80	▲	10.50	▲	0.23%	
	Shanghai_Comp	2,082.73	▲	8.02	▲	0.39%	
	Taiwan_Weight	7,690.19	▲	76.50	▲	1.00%	
	Nikkei_225____	9,581.46	▲	56.14	▲	0.59%	
	Hang_Seng____	22,503.35	▲	53.93	▲	0.80%	
	Strait_Times___	3,141.57	▲	23.24	▲	0.75%	
	NZX_50_Index__	3,995.26	▼	-30.92	▼	-0.77%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks end little changed after Fed rally fizzles

Stocks end the day little changed after rally driven by Federal Reserve stimulus fizzles out*

By Steve Rothwell, AP Business Writer

Stocks ended the day little changed Wednesday after a rally prompted by the Federal Reserve's latest economic stimulus program fizzled out. 

The Dow Jones industrial average closed down 2.99 points at 13,245.45. It had risen as much as 81 points after the Fed said earlier in the day that it would extend a bond-buying plan and keep interest extremely low. 

The S&P finished 0.64 points higher at 1,428.48. The Nasdaq composite was down 8.49 points at 3,013.81. 

The Fed said it will keep spending $85 billion a month on bond purchases to drive down long-term borrowing costs and stimulate economic growth. Of that amount it will spend $45 billion on long-term Treasury purchases to replace a previous bond-buying program of equal size. 

The central bank also said it would keep its key short-term interest rate near zero at least until the unemployment rate drops below 6.5 percent or inflation rises to 2.5 percent. Previously, it had said that it expects to keep the rate low until at least mid-2015. 

The enthusiasm over the Fed's announcement, which came at 12:30 p.m. EST, was short-lived. It briefly drew investors' attention away from the tense, high-level budget talks taking place in Washington. Also, the amount of bond buying the central bank said it would undertake was in line with what investors were expecting, Joseph Tanious, a Global Market Strategist with J.P. Morgan Funds, said. 

"I don't think you're seeing markets react hugely" to the Fed, Tanious said. "Clearly what is driving markets right now is the fiscal policy. What's holding markets hostage....is uncertainty around the fiscal cliff." 

In Washington, lawmakers were still trying to reach a deal to avoid the fiscal "cliff," a series of sharp tax increases and spending cuts that will hit the economy in January if Congress and President Barack Obama are unable to thrash out an agreement to reduce the U.S. budget deficit. 

The Dow and the S&P advanced for the previous five days as optimism increased that a deal can be struck. The S&P is trading at its highest in five weeks and has now erased all of its post-election losses. Stocks fell immediately after the vote Nov. 6 on concern that a divided government would struggle to resolve the budget issue. 

Chemicals giant DuPont advanced 61 cents, or 1.4 percent, to $44.30 after the company unveiled plans to buy back up to $1 billion of its shares next year and said that profit for this year will reach the high end of its forecasts. 

The yield on the 10-year Treasury note rose 5 basis points to 1.71 percent. 

Other stocks making big moves: 

””Eli Lilly and Co. fell $1.60 to $49 after the Indianapolis drugmaker said it will conduct the additional, late-stage study of its possible Alzheimer's treatment solanezumab. The move delays a regulatory decision on a drug that flashed potential to help patients with mild cases of the disease. 

””Health insurer Aetna Inc. rose $1.43 to $45.91 after the company said late Tuesday that it expects sales and profit to grow next year. 

””Berkshire Hathaway's Class A shares jumped $3,169, or 2.4 percent, to $134,045 after the company paid $1.2 billion to repurchase 9,200 shares from the estate of a longtime shareholder. The company's board also approved paying higher prices for future buybacks. 

””Netflix rose $4.65, or 5.4 percent, to $90.73 after the Morgan Stanley raised its prices target on the stock to $105 from $80 and kept its "overweight" rating. The company's deal with Disney, announced Dec. 4, will be a boon to Netflix, according to the investment bank's analysts.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks sank most of the day Thursday after more signs of tension emerged in federal budget talks. They recovered some of the loss after a late report that President Barack Obama and the House speaker would meet.

The Dow Jones industrial average finished down 74.73 points, or 0.6 percent, to 13,170.72.

House Speaker John Boehner, speaking to reporters in Washington before noon, said that the White House was so resistant to cutting government spending that it risked pushing the country off the "fiscal cliff."

The "cliff" is tax increases and government spending cuts that take effect Jan. 1 unless Congress and the White House reach a deal to avert them. Economists have warned that the tax increases and spending cuts could eventually lead to a recession.

Shortly after Boehner spoke, Obama told reporters that a deal was "still a work in progress." Asked about Boehner's assertion that he was waiting to hear more from the president, Obama said only, "Merry Christmas."

The Dow drifted lower all day and was down 98 points at its low, just after 3 p.m. EST. Then the Obama administration said that the president and Boehner would meet later Thursday at the White House.

Stocks still finished in the red. The Standard & Poor's 500 index dropped 9.03 points, or 0.6 percent, to 1,419.45. It was the first loss for the S&P in six days, tying its longest winning streak since early August.

The Nasdaq composite index dropped 21.65 points to 2,992.16.

The decline in stocks came despite the fourth straight weekly drop in applications for unemployment benefits. Applications fell 29,000 last week to 343,000, the second-lowest this year, the Labor Department reported.

 *The NYSE DOW closed  	LOWER ▼	-74.73	points or ▼	-0.56%	Thursday, 13 December 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,170.72	▼	-74.73	▼	-0.56%	
	Nasdaq____	2,992.16	▼	-21.65	▼	-0.72%	
	S&P_500____	1,419.45	▼	-9.03	▼	-0.63%	
	30_Yr_Bond____	2.905	▲	0.01	▲	0.28%	

NYSE Volume	 3,299,682,750 			 		 	
Nasdaq Volume	 1,835,954,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,929.61	▼	-16.24	▼	-0.27%	
	DAX_____	7,581.98	▼	-32.81	▼	-0.43%	
	CAC_40__	3,643.13	▼	-3.53	▼	-0.10%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,592.90	▲	1.10	▲	0.02%	
	Shanghai_Comp	2,061.48	▼	-21.25	▼	-1.02%	
	Taiwan_Weight	7,757.09	▲	66.90	▲	0.87%	
	Nikkei_225____	9,742.73	▲	161.27	▲	1.68%	
	Hang_Seng____	22,445.58	▲	53.93	▼	-0.26%	
	Strait_Times___	3,156.55	▲	14.98	▲	0.48%	
	NZX_50_Index__	3,974.73	▼	-20.53	▼	-0.51%	

http://www.latimes.com/business/la-fiw-1213-stock-market-20121213,0,1753320.story

*Stocks lower as investors watch Washington* 

Stocks sank most of the day Thursday after more signs of tension emerged in federal budget talks. They recovered some of the loss after a late report that President Barack Obama and the House speaker would meet.

The Dow Jones industrial average finished down 74.73 points, or 0.6 percent, to 13,170.72.

House Speaker John Boehner, speaking to reporters in Washington before noon, said that the White House was so resistant to cutting government spending that it risked pushing the country off the "fiscal cliff."

The "cliff" is tax increases and government spending cuts that take effect Jan. 1 unless Congress and the White House reach a deal to avert them. Economists have warned that the tax increases and spending cuts could eventually lead to a recession.

Shortly after Boehner spoke, Obama told reporters that a deal was "still a work in progress." Asked about Boehner's assertion that he was waiting to hear more from the president, Obama said only, "Merry Christmas."

The Dow drifted lower all day and was down 98 points at its low, just after 3 p.m. EST. Then the Obama administration said that the president and Boehner would meet later Thursday at the White House.

Stocks still finished in the red. The Standard & Poor's 500 index dropped 9.03 points, or 0.6 percent, to 1,419.45. It was the first loss for the S&P in six days, tying its longest winning streak since early August.

The Nasdaq composite index dropped 21.65 points to 2,992.16.

The decline in stocks came despite the fourth straight weekly drop in applications for unemployment benefits. Applications fell 29,000 last week to 343,000, the second-lowest this year, the Labor Department reported.

Energy, health care and technology stocks fell the most, and consumer staples stocks were down only slightly. All 10 categories of stock in the S&P 500 index finished lower.

Best Buy shot up $1.94, or 16 percent, to $14.12 after a newspaper reported that the founder of the troubled electronics chain will make a bid of up to $6 billion for the company by the end of the week.

CVS Caremark climbed 96 cents, or 2 percent, to $48.50 after issuing a profit prediction for next year that was ahead of Wall Street expectations. The company also raised its dividend.

On Wednesday, the Dow declined for the first day in five. Stocks rallied in the afternoon after the Federal Reserve tied its pledge of super-low interest rates to an improvement in the unemployment rate, but the rally faded.

The Fed said it would hold interest rates super-low until the unemployment rate drops below 6.5 percent, a threshold the Fed believes may not be breached until the end of 2015. The rate is 7.7 percent today.

The Dow's close Wednesday of 13,245 put it within a point of its close on Election Day. After the election, stocks slid 5 percent as investors began to fret about the "fiscal cliff," but stocks have drifted back higher recently.

"I don't think anyone expected the markets to hold up this well as we get closer and closer to the deadline," said Randy Frederick, managing director of active trading and derivatives for Charles Schwab in Austin, Texas.

"Two possibilities: Either the markets are convinced that they'll reach some sort of agreement, or the markets don't care," he said.

David Steinberg, managing partner of DLS Capital outside Chicago, said that it was only natural for the market to pause after its run-up in recent weeks. He said that he did not think that the cliff would be a "grand event" for the market.

In the bond market, the yield on the benchmark 10-year U.S. Treasury note climbed to 1.73 percent from 1.70 percent late Wednesday.

Among individual stocks:

_ Google gained $5.14, or 0.7 percent, to $702.70 after releasing an updated map application for the iPhone. Google Maps came pre-loaded on previous iPhones but was dropped for the derided Apple Maps earlier this year.

_ SolarCity, which installs rooftop solar panels, began trading on the Nasdaq under the symbol SCTY. Shares were priced at $8 and shot to $11.79. Elon Musk, founder of PayPal and Tesla Motors, is the company's chairman.

_ Clearwire, a struggling provider of mobile Internet access services, jumped 41 cents, or 15 percent, to $3.16 in heavy trading after Sprint Nextel offered to buy out the minority shareholders of the company for $2.1 billion, giving Sprint total control.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks edge lower; Apple sinks 4 percent.  Apple's drop helps pull the stock market lower; Adobe jumps following a strong earnings report

Apple, the most valuable company in the U.S., slumped Friday, helping to drag down the stock market. A lack of progress in federal budget talks also discouraged investors. 

Apple's stock dropped 4 percent after the launch of the iPhone 5 in Beijing failed to draw the long lines of customers that showed up for previous versions, according to news reports. Analysts at UBS cut their earnings estimates and price target for Apple, which lost $19.90 to close at $509.79. 

The Standard & Poor's 500 index fell 5.87 points to close at 1,413.58, while the tech-heavy Nasdaq composite sank 20.83 points to 2,971.33. Apple is the biggest stock in both indexes. 

The Dow, which doesn't include Apple, fell 35.71 points to 13,135.01. All three stock-market measures ended the week with a loss. 

President Barack Obama and House Speaker John Boehner met Thursday to discuss a budget deal to avoid the "fiscal cliff," a collection of higher taxes and government spending cuts scheduled to start Jan. 1. There were no signs of progress, however, and Boehner returned home to Ohio on Friday. 

Investors remain confident the two sides will reach a deal soon, said Todd Morgan, a founder of Bel Air Investment Advisors in Los Angeles. But the more time it takes, the more anxious they get. 

"People want to move ahead and get past this," Morgan said. "The uncertainty around it is what's making people nervous." 

The Labor Department said a steep fall in gas prices pushed down a measure of consumer prices last month. The consumer price index edged down 0.3 percent in November from October, as gas prices sank 7.4 percent, the biggest drop in nearly four years. Consumer prices have risen 1.8 percent over the past year. 

The report helped nudge up prices for U.S. government debt, pushing yields down. The yield on the 10-year Treasury note slipped to 1.70 percent from 1.73 percent late Thursday. When inflation is weak, it suggests that interest rates are unlikely to jump, and bond prices unlikely to drop, anytime soon. 

Asian markets rose after HSBC said manufacturing in China is picking up. Its index for manufacturing December rose to 50.9, a slight increase from the previous month. Anything above 50 is a sign of growth.

 *The NYSE DOW closed  	LOWER ▼	-35.71	points or ▼	-0.27%	Friday, 14 December 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,135.01	▼	-35.71	▼	-0.27%	
	Nasdaq____	2,971.33	▼	-20.83	▼	-0.70%	
	S&P_500____	1,413.58	▼	-5.87	▼	-0.41%	
	30_Yr_Bond____	2.871	▼	-0.03	▼	-1.17%	

NYSE Volume	 3,177,331,250 			 		 	
Nasdaq Volume	 1,777,957,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,921.76	▼	-7.85	▼	-0.13%	
	DAX_____	7,596.47	▲	14.49	▲	0.19%	
	CAC_40__	3,643.28	▲	0.15	▲	0.00%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,595.10	▲	2.20	▲	0.05%	
	Shanghai_Comp	2,150.62	▲	89.15	▲	4.32%	
	Taiwan_Weight	7,698.77	▼	-58.32	▼	-0.75%	
	Nikkei_225____	9,737.56	▼	-5.17	▼	-0.05%	
	Hang_Seng____	22,605.98	▲	53.93	▲	0.71%	
	Strait_Times___	3,168.43	▲	11.88	▲	0.38%	
	NZX_50_Index__	3,979.17	▲	4.45	▲	0.11%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks edge lower; Apple sinks 4 percent

Apple's drop helps pull the stock market lower; Adobe jumps following a strong earnings report*

By Matthew Craft, AP Business Writer

Apple, the most valuable company in the U.S., slumped Friday, helping to drag down the stock market. A lack of progress in federal budget talks also discouraged investors. 

Apple's stock dropped 4 percent after the launch of the iPhone 5 in Beijing failed to draw the long lines of customers that showed up for previous versions, according to news reports. Analysts at UBS cut their earnings estimates and price target for Apple, which lost $19.90 to close at $509.79. 

The Standard & Poor's 500 index fell 5.87 points to close at 1,413.58, while the tech-heavy Nasdaq composite sank 20.83 points to 2,971.33. Apple is the biggest stock in both indexes. 

The Dow, which doesn't include Apple, fell 35.71 points to 13,135.01. All three stock-market measures ended the week with a loss. 

President Barack Obama and House Speaker John Boehner met Thursday to discuss a budget deal to avoid the "fiscal cliff," a collection of higher taxes and government spending cuts scheduled to start Jan. 1. There were no signs of progress, however, and Boehner returned home to Ohio on Friday. 

Investors remain confident the two sides will reach a deal soon, said Todd Morgan, a founder of Bel Air Investment Advisors in Los Angeles. But the more time it takes, the more anxious they get. 

"People want to move ahead and get past this," Morgan said. "The uncertainty around it is what's making people nervous." 

The Labor Department said a steep fall in gas prices pushed down a measure of consumer prices last month. The consumer price index edged down 0.3 percent in November from October, as gas prices sank 7.4 percent, the biggest drop in nearly four years. Consumer prices have risen 1.8 percent over the past year. 

The report helped nudge up prices for U.S. government debt, pushing yields down. The yield on the 10-year Treasury note slipped to 1.70 percent from 1.73 percent late Thursday. When inflation is weak, it suggests that interest rates are unlikely to jump, and bond prices unlikely to drop, anytime soon. 

Asian markets rose after HSBC said manufacturing in China is picking up. Its index for manufacturing December rose to 50.9, a slight increase from the previous month. Anything above 50 is a sign of growth. 

Among other companies in the news: 

”” Adobe jumped 6 percent after the maker of Photoshop editing software and other applications reported results that beat analysts' expectations. More subscribers for its online Creative Cloud service helped drive revenue and earnings higher. Adobe's stock gained $2.03 to $37.56. 

”” Best Buy sank 15 percent, losing $2.07 to $12.05. The struggling electronics retailer and one of its founders, Richard Schulze, agreed to give Schulze more time to assemble a bid for the company. That erased nearly all of the gain the stock made Thursday following a report that Schulze would make a bid by the end of the week. 

”” Silver Bay Realty Trust dipped 26 cents to $18.24 in its first day of trading. Silver Bay raised $245.1 million in its initial public offering Thursday. It plans on using the money to buy thousands of single-family homes and rent them out, as the U.S. housing market slowly heals.

8674


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks rose on Wall Street as investors were encouraged by signs of progress in budget talks in Washington. Just two weeks remain before tax increases and government spending cuts take effect if no deal is reached. 

On the floor of the New York Stock Exchange, stock traders paused for a minute of silence at 9:15 a.m. EST to remember the 20 children and seven adults killed Friday in a gunman's rampage through a Connecticut elementary school. 

The Dow Jones industrial average rose 100.38 points to 13,235.39, its biggest gain this month. The Standard & Poor's 500 index climbed 16.78 points to 1,430.36 and the Nasdaq composite index rose 39.27 points to 3,010.60. 

Marc Chaikin, CEO of the Philadelphia-based market research firm Chaikin Analytics, said investors became more hopeful for a resolution in the budget talks after House Speaker John Boehner made an offer to increase tax rates on high-income Americans. 

"The fiscal cliff is obviously foremost on everyone's mind," Chaikin said. 

Banks were among the best-performing stocks. Citigroup gained $1.55, 4.1 percent, to $39.15 after Raymond James raised its target price on the stock to $52 from $44. In a note to clients, the brokerage reaffirmed its "Strong Buy" rating, citing the "improving fundamental outlook." Bank of America also gained 42 cents, or 4 percent, to $11. 

Investors are currently favoring financial stocks over technology stocks, said Ben Schwarz, chief market strategist at Lightspeed Financial. 

"The banks are ripping today," Schwarz said. "People are looking for stability and the tech sector hasn't given them any." 

Financial companies make up the best performing industry group in the S&P 500 this year, according to FactSet data. The group, which includes banks such as Wells Fargo & Co. and insurers such as Travelers, has gained 25 percent this year. 

 *The NYSE DOW closed  	HIGHER ▲	100.38	points or ▲	0.76%	Monday, 17 December 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,235.39	▲	100.38	▲	0.76%	
	Nasdaq____	3,010.60	▲	39.27	▲	1.32%	
	S&P_500____	1,430.36	▲	16.78	▲	1.19%	
	30_Yr_Bond____	2.930	▲	0.06	▲	2.09%	

NYSE Volume	 3,415,916,500 			 		 	
Nasdaq Volume	 1,905,286,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,912.15	▼	-9.61	▼	-0.16%	
	DAX_____	7,604.94	▲	8.47	▲	0.11%	
	CAC_40__	3,638.10	▼	-5.18	▼	-0.14%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,588.00	▼	-7.10	▼	-0.15%	
	Shanghai_Comp	2,160.34	▲	9.72	▲	0.45%	
	Taiwan_Weight	7,631.28	▼	-67.49	▼	-0.88%	
	Nikkei_225____	9,828.88	▲	91.32	▲	0.94%	
	Hang_Seng____	22,513.61	▲	53.93	▼	-0.41%	
	Strait_Times___	3,158.70	▼	-9.73	▼	-0.31%	
	NZX_50_Index__	3,966.49	▼	-12.69	▼	-0.32%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks move higher as budget talks progress

Stock market heads higher as Boehner proposal signals progress in Washington budget talks*

By Steve Rothwell, AP Business Writer 

Stocks rose on Wall Street as investors were encouraged by signs of progress in budget talks in Washington. Just two weeks remain before tax increases and government spending cuts take effect if no deal is reached. 

On the floor of the New York Stock Exchange, stock traders paused for a minute of silence at 9:15 a.m. EST to remember the 20 children and seven adults killed Friday in a gunman's rampage through a Connecticut elementary school. 

The Dow Jones industrial average rose 100.38 points to 13,235.39, its biggest gain this month. The Standard & Poor's 500 index climbed 16.78 points to 1,430.36 and the Nasdaq composite index rose 39.27 points to 3,010.60. 

Marc Chaikin, CEO of the Philadelphia-based market research firm Chaikin Analytics, said investors became more hopeful for a resolution in the budget talks after House Speaker John Boehner made an offer to increase tax rates on high-income Americans. 

"The fiscal cliff is obviously foremost on everyone's mind," Chaikin said. 

Banks were among the best-performing stocks. Citigroup gained $1.55, 4.1 percent, to $39.15 after Raymond James raised its target price on the stock to $52 from $44. In a note to clients, the brokerage reaffirmed its "Strong Buy" rating, citing the "improving fundamental outlook." Bank of America also gained 42 cents, or 4 percent, to $11. 

Investors are currently favoring financial stocks over technology stocks, said Ben Schwarz, chief market strategist at Lightspeed Financial. 

"The banks are ripping today," Schwarz said. "People are looking for stability and the tech sector hasn't given them any." 

Financial companies make up the best performing industry group in the S&P 500 this year, according to FactSet data. The group, which includes banks such as Wells Fargo & Co. and insurers such as Travelers, has gained 25 percent this year. 

Apple rose $9.04, or 1.8 percent, to $518.83 after the company said it sold more than 2 million iPhone 5s in China in their first three days of availability, setting a record for that market. The technology giant's stock has fallen 26 percent since it closed at a record $702.10 in September and is trading close to its lowest since February. 

In Washington, there appeared to be movement in long-stalled budget talks aimed at avoiding tax increases and government spending cuts set to take effect Jan. 1, which are known as the "fiscal cliff." The combination could lead to a recession. 

Indexes opened higher following the news that Boehner, a Republican, offered $1 trillion in higher tax revenue over 10 years and an increase on the top tax rate for people making $1 million per year, to 39.6 percent from 35 percent. The market moved higher still after news crossed shortly before noon that Boehner went to the White House to meet with President Barack Obama. 

Wall Street has been relatively calm in recent weeks, but David Kelly, chief global strategist for J.P. Morgan Funds, said that by Friday the market will be "squarely focused on what is or is not happening in Washington." 

He suggested in a note to clients that the markets will not have "priced in" any outcome, "setting the stage for a market rally with an agreement and a slump with stalemate." 

Clearwire slid 46 cents, to $2.91, after Sprint announced terms of its buyout deal for the wireless Internet access company. Sprint's price of $2.97 per share was below Clearwire's closing stock price Friday. 

Japanese stocks rose after the country's Liberal Democratic Party regained power following a landslide election victory. 

Brian Singer, partner at William Blair, a Chicago-based asset management firm, said investors were encouraged by the outcome, which gave the conservative party overwhelming control of Parliament. The Liberal Democrats have promised greater economic stimulus spending and more action to end a destructive cycle of price declines, or deflation. 

The note on the 10-year Treasury bond rose 7 basis points to 1.78 percent. 

Other stocks making big moves: 

””American International Group rose $1.01, or 3 percent, to $34.95 after the insurer said it was selling its remaining stake in the life insurer AIA Group. The Wall Street Journal said AIG may raise as much as $6.5 billion from the sale. AIG avoided collapse in 2008 with $182 billion in support from the U.S. government ”” the biggest of the Wall Street bailout packages ”” after suffering massive losses from investments in derivatives. 

””Tenet Healthcare Co. gained 55 cents, or 1.8 percent, to $31.38 after Deutsche Bank raised its recommendation on the stock to "buy" from "hold." The bank cited Tenet's "compelling" business and financial outlook over the next 12 to 24 months.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks climbed on Wall Street Tuesday, pushing the Standard and Poor's 500 to its highest level in two months, on optimism that lawmakers are closing in on a budget deal that will stop the U.S. from going over the "fiscal cliff" at the beginning of next year. 

The Dow Jones industrial average rose 115.57 points to 13,350.96, its biggest one-day gain in almost a month. The Standard & Poor's 500 rose 16.43 points to 1,446.79, its highest close since Oct. 18. The Nasdaq composite rose 43.93 points to 3,054.53. 

House Speaker John Boehner told reporters he remains hopeful that a fiscal cliff compromise can be reached, but says President Barack Obama has yet to offer a balanced deficit-cutting plan. Boehner said Obama's latest offer for $1.3 trillion in tax increases over the next decade with $850 billion in spending cuts is not enough. The White House says that President Obama has moved halfway to meet Boehner on a budget deal. 

"People are cheering the prospect for some compromise in Washington right now," said Joe Costigan, director of equity research at Bryn Mawr Trust Co. "At the moment there is some pretty good news and the market is reacting favorably to it, but the deal isn't done yet." 

Stocks slumped after the presidential election Nov. 6 on concern that a divided government would struggle to reach an agreement before Jan. 1, when a series of series of tax increases and government spending cuts are scheduled to take effect if no deal is reached. Those measures could push the U.S. back into recession. The S&P 500 has since recouped all of those losses. 

Some investors say stocks are already pricing in too much optimism. Any deal, while ensuring that the economy avoids the full impact of the "fiscal cliff," will still involve higher taxes and less government spending. That will be a drag on economic growth, said David Wright, a managing director and co-founder at Sierra Investment Management in Santa Monica, Calif. 

"There are just too many naive people thinking that the agreement itself is a significant event ”” it isn't," Wright said. "The implementation is going to be negative for the economy." 

Stocks added to their gains after the Standard & Poor's rating agency said at midday that it had raised Greece's credit grade by six notches to B-, lifting the country out of default. The threat of a Greek default had roiled markets in the first half of this year. Investors worried that the heavily indebted nation would leave the euro, opening the way for a break-up of the currency block. The ratings firm said the upgrade reflected its view that the other 16 countries using the euro are determined to keep the Greece inside the currency union. 

The Dow Jones is up 2.5 percent in December and is on track to close higher for a fourth straight year. The index has advanced 9 percent in 2012. The S&P 500 is also up for the year, gaining 15 percent. 	

 *The NYSE DOW closed  	HIGHER ▲	115.57	points or ▲	0.87%	Tuesday, 18 December 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,350.96	▲	115.57	▲	0.87%	
	Nasdaq____	3,054.53	▲	43.93	▲	1.46%	
	S&P_500____	1,446.79	▲	16.43	▲	1.15%	
	30_Yr_Bond____	3.014	▲	0.08	▲	2.83%	

NYSE Volume	 4,116,356,750 			 		 	
Nasdaq Volume	 2,017,737,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,935.90	▲	23.75	▲	0.40%	
	DAX_____	7,653.58	▲	48.64	▲	0.64%	
	CAC_40__	3,648.63	▲	10.53	▲	0.29%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,610.50	▲	22.50	▲	0.49%	
	Shanghai_Comp	2,162.46	▲	2.12	▲	0.10%	
	Taiwan_Weight	7,643.74	▲	12.46	▲	0.16%	
	Nikkei_225____	9,923.01	▲	94.13	▲	0.96%	
	Hang_Seng____	22,494.73	▲	53.93	▼	-0.08%	
	Strait_Times___	3,156.79	▼	-1.91	▼	-0.06%	
	NZX_50_Index__	3,979.25	▲	12.77	▲	0.32%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks gain on optimism that a budget deal is near

Stocks climb on confidence that a budget deal between White House and Congress is close*

By Steve Rothwell, AP Business Writer

Stocks climbed on Wall Street Tuesday, pushing the Standard and Poor's 500 to its highest level in two months, on optimism that lawmakers are closing in on a budget deal that will stop the U.S. from going over the "fiscal cliff" at the beginning of next year. 

The Dow Jones industrial average rose 115.57 points to 13,350.96, its biggest one-day gain in almost a month. The Standard & Poor's 500 rose 16.43 points to 1,446.79, its highest close since Oct. 18. The Nasdaq composite rose 43.93 points to 3,054.53. 

House Speaker John Boehner told reporters he remains hopeful that a fiscal cliff compromise can be reached, but says President Barack Obama has yet to offer a balanced deficit-cutting plan. Boehner said Obama's latest offer for $1.3 trillion in tax increases over the next decade with $850 billion in spending cuts is not enough. The White House says that President Obama has moved halfway to meet Boehner on a budget deal. 

"People are cheering the prospect for some compromise in Washington right now," said Joe Costigan, director of equity research at Bryn Mawr Trust Co. "At the moment there is some pretty good news and the market is reacting favorably to it, but the deal isn't done yet." 

Stocks slumped after the presidential election Nov. 6 on concern that a divided government would struggle to reach an agreement before Jan. 1, when a series of series of tax increases and government spending cuts are scheduled to take effect if no deal is reached. Those measures could push the U.S. back into recession. The S&P 500 has since recouped all of those losses. 

Some investors say stocks are already pricing in too much optimism. Any deal, while ensuring that the economy avoids the full impact of the "fiscal cliff," will still involve higher taxes and less government spending. That will be a drag on economic growth, said David Wright, a managing director and co-founder at Sierra Investment Management in Santa Monica, Calif. 

"There are just too many naive people thinking that the agreement itself is a significant event ”” it isn't," Wright said. "The implementation is going to be negative for the economy." 

Stocks added to their gains after the Standard & Poor's rating agency said at midday that it had raised Greece's credit grade by six notches to B-, lifting the country out of default. The threat of a Greek default had roiled markets in the first half of this year. Investors worried that the heavily indebted nation would leave the euro, opening the way for a break-up of the currency block. The ratings firm said the upgrade reflected its view that the other 16 countries using the euro are determined to keep the Greece inside the currency union. 

The Dow Jones is up 2.5 percent in December and is on track to close higher for a fourth straight year. The index has advanced 9 percent in 2012. The S&P 500 is also up for the year, gaining 15 percent. 

Allstate Corp. gained 56 cents, or 1.4 percent, to $41.35 after the company's board of directors approved a plan to buy back up to $1 billion of the insurer's shares by the end of the year. 

Eli Lilly also advanced after saying it would buy back its own stock. The drugmaker rose $1.18, or 2.4 percent, to $49.52 after saying that its board had approved a $1.5 billion share buyback. 

Apple gained $15.07, or 2.9 percent, to $533.90. Samsung Electronics Co. said it had withdrawn its requests to have sales of certain Apple products banned in Europe, though the company is still suing Apple over the use of certain technology licenses. 

Apple has rebounded in the last two days. It closed at its lowest in 10 months Dec. 14 as investors worried that intensifying competition in the smartphone market would erode Apple's profit margins. 

The yield on the 10-year Treasury note climbed 5 basis points to 1.82 percent. The yield on the note has risen 20 basis points since the start of December. 

Among stocks making big moves today; 

”” Arbitron, a provider of radio ratings, surged $8.99, or 24 percent, to $47.03 after TV ratings company Nielsen said it would buy it for about $1.26 billion. 

”” FactSet Research Systems Inc., a provider of financial information to investors, fell $4.20, or 4.4 percent, to $92.19 after it reported earnings and revenues that fell short of analysts' estimates.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks dipped Wednesday, recording their first loss of the week. President Barack Obama and Republicans in Congress sniped at each other, and a deadline to avoid sweeping tax increases and government spending cuts drew closer. 

General Motors stock surged after the government announced plans to sell its ownership stake in the company. 

The Dow Jones industrial average closed down 98.99 points, or 0.7 percent, at 13,251.97. The Standard & Poor's 500 index dropped 10.98 points, or 0.8 percent, to 1,435.81. The Nasdaq composite index fell 10.17, or 0.3 percent, to 3,044.36. 

Obama said that he and House Speaker John Boehner were "pretty close" to a deal to avoid the tax increases and spending cuts, a combination known as the "fiscal cliff." The two sides have exchanged proposals this week. 

But the president also said that congressional Republicans keep finding "ways to say no as opposed to finding ways to say yes." He said the nation deserves compromise in the aftermath of the Connecticut school shooting. 

Boehner, speaking to reporters for less than a minute and in a defiant tone, called on Obama to offer a deficit-cutting plan balanced between spending cuts and tax increases. 

He predicted that the House would pass his backup plan, which calls for extending decade-old tax cuts for Americans making less than $1 million per year. The White House has rejected that plan. 

The S&P 500 index had gained more than 2 percent over the previous two days in part because of optimism about a deal taking shape. The optimism seemed to melt on Wednesday, and stocks finished near their lows for the day. 

GM soared $1.69, or 6.6 percent, to $27.18 after the company said it would spend $5.5 billion to buy 200 million shares of its own stock back from the federal government. 

 *The NYSE DOW closed  	LOWER ▼	-98.99	points or ▼	-0.74%	Wednesday, 19 December 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,251.97	▼	-98.99	▼	-0.74%	
	Nasdaq____	3,044.36	▼	-10.17	▼	-0.33%	
	S&P_500____	1,435.81	▼	-10.98	▼	-0.76%	
	30_Yr_Bond____	2.982	▼	-0.03	▼	-1.06%	

NYSE Volume	 3,838,595,000 			 		 	
Nasdaq Volume	 1,938,485,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,961.59	▲	25.69	▲	0.43%	
	DAX_____	7,668.50	▲	14.92	▲	0.19%	
	CAC_40__	3,664.59	▲	15.96	▲	0.44%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,633.20	▲	22.70	▲	0.49%	
	Shanghai_Comp	2,162.24	▼	-0.23	▼	-0.01%	
	Taiwan_Weight	7,677.47	▲	33.73	▲	0.44%	
	Nikkei_225____	10,160.40	▲	237.39	▲	2.39%	
	Hang_Seng____	22,623.37	▲	53.93	▲	0.57%	
	Strait_Times___	3,158.47	▲	1.68	▲	0.05%	
	NZX_50_Index__	4,023.00	▲	43.75	▲	1.10%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks fall as sides snipe in 'cliff' talks

Stocks fall as sides snipe at each other in 'fiscal cliff' talks; Dow loses 99*

By The Associated Press

Stocks dipped Wednesday, recording their first loss of the week. President Barack Obama and Republicans in Congress sniped at each other, and a deadline to avoid sweeping tax increases and government spending cuts drew closer. 

General Motors stock surged after the government announced plans to sell its ownership stake in the company. 

The Dow Jones industrial average closed down 98.99 points, or 0.7 percent, at 13,251.97. The Standard & Poor's 500 index dropped 10.98 points, or 0.8 percent, to 1,435.81. The Nasdaq composite index fell 10.17, or 0.3 percent, to 3,044.36. 

Obama said that he and House Speaker John Boehner were "pretty close" to a deal to avoid the tax increases and spending cuts, a combination known as the "fiscal cliff." The two sides have exchanged proposals this week. 

But the president also said that congressional Republicans keep finding "ways to say no as opposed to finding ways to say yes." He said the nation deserves compromise in the aftermath of the Connecticut school shooting. 

Boehner, speaking to reporters for less than a minute and in a defiant tone, called on Obama to offer a deficit-cutting plan balanced between spending cuts and tax increases. 

He predicted that the House would pass his backup plan, which calls for extending decade-old tax cuts for Americans making less than $1 million per year. The White House has rejected that plan. 

The S&P 500 index had gained more than 2 percent over the previous two days in part because of optimism about a deal taking shape. The optimism seemed to melt on Wednesday, and stocks finished near their lows for the day. 

GM soared $1.69, or 6.6 percent, to $27.18 after the company said it would spend $5.5 billion to buy 200 million shares of its own stock back from the federal government. 

The government pledged to sell the other 300 million GM shares it owns on the open market and shed its entire ownership stake in 12 to 15 months. The government got GM stock as part of a 2009 bailout. 

U.S. builders broke ground on fewer homes in November after starting work in October at the fastest pace in four years. Superstorm Sandy probably distorted the totals in the Northeast. 

The Commerce Department said builders began construction of houses and apartments at a seasonally adjusted annual rate of 861,000. That was 3 percent less than October's annual rate of 888,000, the fastest since July 2008. 

Materials stocks fell just 0.5 percent, less than the rest of the market. Industrials fell 0.7 percent. Elsewhere on Wall Street, telecommunications stocks and health care stocks fared the worst, down 1.2 percent and 1.1 percent respectively. 

Oracle, which makes software for businesses, jumped $1.21, or 3.7 percent, to $34.09 after reporting stronger earnings as companies splurged on software and other technology. 

The yield on the benchmark 10-year U.S. Treasury note fell 0.02 percentage point to 1.80 percent. The price of oil climbed $1.58, or 1.8 percent, to $89.51 per barrel. 

Among other stocks in the news: 

”” FedEx gained 84 cents, or 0.9 percent, to $93.20. The world's No. 2 package delivery company lowered its economic forecast for the United States but said it was more confident in its own ability to increase earnings. 

”” Martha Stewart Living Omnimedia gained 7cents to $2.65. It fell during the day to $2.30, a three-year low, after CEO Lisa Gersh stepped down after less than a year on the job.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market ended higher Thursday after flipping between small gains and losses throughout the morning. Uncertainty about the "fiscal cliff," just days away, was top of mind for many traders. 

The Republican-controlled House pushed ahead with a bill aimed at averting the "fiscal cliff," but President Barack Obama has threatened to veto it and Democratic leaders in the Senate vowed to let it die. 

Many traders now expect that the Republicans and Democrats won't reach an agreement before Christmas. The political haggling kept markets muted, and trading volume was low. 

"Every time someone makes a speech, you get another move in the market," said Ben Fischer, founder and managing director of NFJ Investment Group in Dallas. "Everyone's just tracking it on a very short-term basis." 

The Dow Jones industrial average fell as much as 36 points before ending the day higher, rising 59.75 points to close at 13,311.72. Other indexes followed similar patterns. The Standard & Poor's 500 rose 7.88 to 1,443.69. The Nasdaq composite index rose 6.02 to 3,050.39. 

In Washington, the Republicans offered in their "Plan B" to raise taxes on the wealthy, but Democrats complained that it would not address the steep budget cuts that are automatically set to occur for military and domestic agencies. 

If the Republicans and Democrats don't work out a compromise before the end of the month, the U.S. could go over the "fiscal cliff," a reference to big tax increases and government spending cuts that would automatically kick in if no budget deal is in place. Some economists fear that would push the U.S. back into recession. 

But even a successful compromise is no guarantee that the market will soar. The market already assumes that a budget compromise will be reached, Fischer and others said, evidenced by its more-or-less steady increase since mid-November. 

A compromise "doesn't make everything better," said Tim Biggam, market strategist with the brokerage TradingBlock in Chicago. "It just stops things from getting worse

 *The NYSE DOW closed  	HIGHER ▲	59.75	points or ▲	0.45%	Thursday, 20 December 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,311.72	▲	59.75	▲	0.45%	
	Nasdaq____	3,050.39	▲	6.03	▲	0.20%	
	S&P_500____	1,443.69	▲	7.88	▲	0.55%	
	30_Yr_Bond____	2.984	▲	0.00	▲	0.07%	

NYSE Volume	 3,656,372,000 			 		 	
Nasdaq Volume	 1,685,494,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,958.34	▼	-3.25	▼	-0.05%	
	DAX_____	7,672.10	▲	3.60	▲	0.05%	
	CAC_40__	3,666.73	▲	18.10	▲	0.50%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,646.60	▲	13.40	▲	0.29%	
	Shanghai_Comp	2,168.35	▲	6.11	▲	0.28%	
	Taiwan_Weight	7,595.46	▼	-82.01	▼	-1.07%	
	Nikkei_225____	10,039.33	▼	-121.07	▼	-1.19%	
	Hang_Seng____	22,659.78	▲	53.93	▲	0.16%	
	Strait_Times___	3,175.52	▲	16.95	▲	0.54%	
	NZX_50_Index__	4,075.45	▲	52.45	▲	1.30%	

http://finance.yahoo.com/news/waiti...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Waiting on fiscal cliff compromise, stocks inch up

US stocks meander, then inch up, as traders wait for fiscal cliff deal; NYSE Euronext soars*

By Christina Rexrode, AP Business Writer

The stock market ended higher Thursday after flipping between small gains and losses throughout the morning. Uncertainty about the "fiscal cliff," just days away, was top of mind for many traders. 

The Republican-controlled House pushed ahead with a bill aimed at averting the "fiscal cliff," but President Barack Obama has threatened to veto it and Democratic leaders in the Senate vowed to let it die. 

Many traders now expect that the Republicans and Democrats won't reach an agreement before Christmas. The political haggling kept markets muted, and trading volume was low. 

"Every time someone makes a speech, you get another move in the market," said Ben Fischer, founder and managing director of NFJ Investment Group in Dallas. "Everyone's just tracking it on a very short-term basis." 

The Dow Jones industrial average fell as much as 36 points before ending the day higher, rising 59.75 points to close at 13,311.72. Other indexes followed similar patterns. The Standard & Poor's 500 rose 7.88 to 1,443.69. The Nasdaq composite index rose 6.02 to 3,050.39. 

In Washington, the Republicans offered in their "Plan B" to raise taxes on the wealthy, but Democrats complained that it would not address the steep budget cuts that are automatically set to occur for military and domestic agencies. 

If the Republicans and Democrats don't work out a compromise before the end of the month, the U.S. could go over the "fiscal cliff," a reference to big tax increases and government spending cuts that would automatically kick in if no budget deal is in place. Some economists fear that would push the U.S. back into recession. 

But even a successful compromise is no guarantee that the market will soar. The market already assumes that a budget compromise will be reached, Fischer and others said, evidenced by its more-or-less steady increase since mid-November. 

A compromise "doesn't make everything better," said Tim Biggam, market strategist with the brokerage TradingBlock in Chicago. "It just stops things from getting worse." 

Biggam predicted that the economy's growth next year will remain anemic. Problems that the headlines over budget impasse have pushed out of the public consciousness, like the European debt crisis, still need to be resolved, he said. 

"All the fears that we were worried about not too long ago," he said, "have not gone away." 

Also at the forefront for many traders was the news that NYSE Euronext, the parent of the New York Stock Exchange, planned to sell itself to IntercontinentalExchange, an upstart and lesser-known exchange operator based in Atlanta. 

NYSE Euronext's stock surged $8.20 to $32.25. The boost at IntercontinentalExchange was much more modest, with the stock rising $1.79, or just more than 1 percent, to $130.10. That signals traders think the proposed deal could be more beneficial to NYSE Euronext than to its potential buyer. 

Even without the complications of the budget negotiations, the U.S. economy has been difficult to read, a pattern that continued Thursday. 

The government said the U.S. economy grew at an annual rate of 3.1 percent over the summer, higher than the previous estimate of 2.7 percent. But growth is likely to slow in the current quarter and early next year. 

The government also reported that the number of Americans applying for unemployment benefits rose last week, a disappointment after four straight weeks of declines. The four-week moving average of jobless claims, a less volatile measurement, fell. 

The yield on the 10-year Treasury note was unchanged at 1.80 percent. World markets were also mixed. Major stock indexes in Britain and Japan edged lower, while France and China rose. 

A slate of companies reported earnings, with varied results: 

””Darden Restaurants, the parent of Olive Garden and Red Lobster, fell $1.34 to $45.47 after the company reported sharply lower profits. New ad campaigns meant to attract younger customers haven't done as well as the company hoped. 

””Rite Aid, the drugstore chain, soared 16 percent, rising 17 cents to $1.21, after the company reported its first quarterly profit since 2007. The pharmacies filled more prescriptions, and an influx of generic drugs helped profitability. 

””Scholastic slipped 50 cents to $28.79 after reporting lower profit and revenue, with demand fading for its popular "Hunger Games" trilogy. 

””CarMax shot up 9 percent, rising $3.13 to $37.97, after reporting higher profit and revenue. Sales of used cars helped push results higher.


----------



## bigdog

Source: http://finance.yahoo.com 

Investors sent Washington a reminder Friday that Wall Street is a power player in talks to avoid the "fiscal cliff." 

Stocks fell sharply after House Republicans called off a vote on tax rates and left federal budget talks in disarray 10 days before sweeping tax increases and government spending cuts are scheduled to take effect. 

The Dow Jones industrial average lost as much as 189 points before closing down 120.88 points, or 0.9 percent, at 13,190.84. The Standard & Poor's 500 index fell 13.54 points to 1,430.15. The Nasdaq composite index declined 29.38 to 3,021.01. 

The House bill would have raised taxes on Americans making at least $1 million per year and locked in decade-old tax cuts for Americans making less. Taxes will rise for almost all Americans on Jan. 1 unless Congress acts. 

House Speaker John Boehner had presented what he called "Plan B" while he negotiated with the White House on avoiding the sweeping tax increases and spending cuts, a combination known as the fiscal cliff. 

But Boehner scrapped a vote on the bill Thursday night after it became clear that it did not have enough support in the Republican-led House to secure passage. He called on the White House and the Democratic-led Senate to work something out. 

The market's decline demonstrated that investors' nerves are raw as they await a resolution. 

"Where we are today, the market would be satisfied with the announcement of a stopgap measure," said Quincy Krosby, a market strategist at Prudential Financial. "The more the clock ticks, the more the market is saying, 'Just give us something.'" 

Sal Arnuk, a partner at Themis Trading, suggested that the sharp drop in stocks early in the day might have been an overreaction. The Dow was down as much as 189 points, and before the market opened, stock futures suggested a decline of 200 points or more. 

"It's not a surprise that they weren't able to come to an agreement," he said. I don't think most of Wall Street anticipated that they would come to an agreement." 

Other markets registered their concern, but the reaction was not extreme. The yield on the benchmark 10-year U.S. Treasury note fell 0.04 percentage point to 1.76 percent. 

The price of gold, which some investors buy when fear overtakes the market, climbed, but only by 0.9 percent. Gold rose $14.20 to $1,660.10 an ounce. 

 *The NYSE DOW closed  	LOWER ▼	-120.88	points or ▼	-0.91%	Friday, 21 December 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,190.84	▼	-120.88	▼	-0.91%	
	Nasdaq____	3,021.01	▼	-29.38	▼	-0.96%	
	S&P_500____	1,430.15	▼	-13.54	▼	-0.94%	
	30_Yr_Bond____	2.922	▼	-0.06	▼	-2.08%	

NYSE Volume	 4,834,776,000 			 		 	
Nasdaq Volume	 2,825,451,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,939.99	▼	-18.35	▼	-0.31%	
	DAX_____	7,636.23	▼	-35.87	▼	-0.47%	
	CAC_40__	3,661.40	▼	-5.33	▼	-0.15%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,635.20	▼	-11.40	▼	-0.25%	
	Shanghai_Comp	2,153.31	▼	-15.04	▼	-0.69%	
	Taiwan_Weight	7,519.93	▲	0.00	▲	0.00%	
	Nikkei_225____	9,940.06	▼	-99.27	▼	-0.99%	
	Hang_Seng____	22,506.29	▲	53.93	▼	-0.68%	
	Strait_Times___	3,163.56	▼	-11.96	▼	-0.38%	
	NZX_50_Index__	4,054.74	▼	-20.71	▼	-0.51%	

http://finance.yahoo.com/news/stocks-sink-republicans-cancel-budget-154100392.html

*Stocks sink after Republicans cancel budget vote

Stocks drop sharply after Republicans cancel tax vote; 'fiscal cliff' looms*

By Steve Rothwell, AP Business Writer

Investors sent Washington a reminder Friday that Wall Street is a power player in talks to avoid the "fiscal cliff." 

Stocks fell sharply after House Republicans called off a vote on tax rates and left federal budget talks in disarray 10 days before sweeping tax increases and government spending cuts are scheduled to take effect. 

The Dow Jones industrial average lost as much as 189 points before closing down 120.88 points, or 0.9 percent, at 13,190.84. The Standard & Poor's 500 index fell 13.54 points to 1,430.15. The Nasdaq composite index declined 29.38 to 3,021.01. 

The House bill would have raised taxes on Americans making at least $1 million per year and locked in decade-old tax cuts for Americans making less. Taxes will rise for almost all Americans on Jan. 1 unless Congress acts. 

House Speaker John Boehner had presented what he called "Plan B" while he negotiated with the White House on avoiding the sweeping tax increases and spending cuts, a combination known as the fiscal cliff. 

But Boehner scrapped a vote on the bill Thursday night after it became clear that it did not have enough support in the Republican-led House to secure passage. He called on the White House and the Democratic-led Senate to work something out. 

The market's decline demonstrated that investors' nerves are raw as they await a resolution. 

"Where we are today, the market would be satisfied with the announcement of a stopgap measure," said Quincy Krosby, a market strategist at Prudential Financial. "The more the clock ticks, the more the market is saying, 'Just give us something.'" 

Sal Arnuk, a partner at Themis Trading, suggested that the sharp drop in stocks early in the day might have been an overreaction. The Dow was down as much as 189 points, and before the market opened, stock futures suggested a decline of 200 points or more. 

"It's not a surprise that they weren't able to come to an agreement," he said. I don't think most of Wall Street anticipated that they would come to an agreement." 

Other markets registered their concern, but the reaction was not extreme. The yield on the benchmark 10-year U.S. Treasury note fell 0.04 percentage point to 1.76 percent. 

The price of gold, which some investors buy when fear overtakes the market, climbed, but only by 0.9 percent. Gold rose $14.20 to $1,660.10 an ounce. 

If the full fiscal cliff takes effect, economists say it could drag the United States into recession next year. The impact would be gradual, though, and a recession is not a sure thing. 

Most people would receive only slightly less money in each paycheck. And the tax increases and spending cuts could be retroactively repealed if a deal comes together after Jan. 1. 

If budget talks dragged on, many businesses might put off investment or hiring, and consumer spending could suffer. That's why most economists say it would be crucial to reach a deal within roughly the first two months of 2013. 

"Believe you me," Krosby said, "if you think that there is a recession in the offing you are going to see this market sell off. It's sell off first, ask questions later." 

It was not the first time that Wall Street worried about the fiscal cliff talks. 

On the day after the election, when voters returned divided government to power, the Dow dropped 312 points. On Nov. 14, when President Barack Obama insisted on higher tax rates for the wealthy, the Dow dropped 185 points. 

The sharp drop in stocks Friday was reminiscent of, although much smaller in scale than, what happened Sept. 29, 2008, during the financial crisis. 

The House defeated a proposed $700 billion bailout of the U.S. financial industry, and the Dow plunged 777 points, its worst one-day decline. Four days later, the House, shaken by what had happened on Wall Street, passed a modified bill. 

Stocks closed lower Friday in Asia after House Republicans canceled their vote. The Nikkei index in Japan fell almost 1 percent, and Hong Kong's Hang Seng Index dropped 0.7 percent. Stocks were also lower in Europe. 

Among stocks making big moves: 

”” Walgreen, the nation's largest drugstore chain, slumped $1.24, or 3.3 percent, to $36.31. It filled fewer prescriptions and absorbed costs tied to acquisitions and Superstorm Sandy. The results were worse than financial analysts had been expecting. 

”” BlackBerry maker Research in Motion dropped $2.21, or 15.8 percent, to $11.74. The company said it won't generate as much revenue from telecommunications carriers once it releases the BlackBerry 10. 

”” Nike, the world's largest maker of athletic gear, jumped $6.10, or 6.2 percent, to $105.10. It said strong demand in North America led to a 7 percent increase in revenue in the three months ended Nov. 30, balancing out economic weakness in Europe and a slowdown in growth in China. 

”” Micron Technology dropped 6.9 percent, the biggest decline in the S&P 500 index. The semiconductor maker reported a loss late Thursday as weaker demand for personal computers and an oversupply of certain chips hurt its sales. The stock lost 47 cents to $6.32

9546


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks fell in light trading Monday during a shortened holiday trading session with lawmakers running out of time to reach a budget deal that would prevent the U.S. from going over the so-called fiscal cliff. 

The Dow Jones industrial average fell 52 points to 13,139.08. The Standard & Poor's 500 index gave up 3 points to 1,426.66 The Nasdaq composite slipped 8.4 points to 3,012.60. 

In more than a dozen interviews with The Associated Press, conservative activists said they would rather see the country fall off the cliff than agree to any tax increases for any Americans, no matter how wealthy. 

With many in Washington away for the holidays, that scenario appears increasingly likely. 

"There is starting to become a little bit of an acceptance that we fall off the fiscal cliff," said JJ Kinahan, chief derivatives strategist for TD Ameritrade. "People are starting to think about how they may plan their portfolio if that does happen." 

Stocks fell sharply Friday, with the Dow logging its biggest drop in more than a month, after House Republicans called off a vote on tax rates. That left federal budget talks in disarray just days before sweeping tax increases and government spending cuts are scheduled to take effect. 

Sen. Joe Lieberman said Sunday that "it's the first time that I feel it's more likely we'll go over the cliff than not," following the collapse late Thursday of House Speaker John Boehner's plan to allow tax rates to rise on million-dollar-plus incomes. Wyoming Sen. Jon Barrasso, a member of the Republican leadership, predicted the new year would come without an agreement. 

Failure to agree on a budget plan before year-end would lead to simultaneous spending cuts and tax hikes that many fear may push the economy back into recession. 

President Barack Obama and Congress are on a short holiday break. Congress is expected to be back at work Thursday and Obama will be back in the White House after a few days in Hawaii.

 *The NYSE DOW closed  	LOWER ▼	-51.76	points or ▼	-0.39%	Monday, 24 December 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,139.08	▼	-51.76	▼	-0.39%	
	Nasdaq____	3,012.60	▼	-8.41	▼	-0.28%	
	S&P_500____	1,426.66	▼	-3.49	▼	-0.24%	
	30_Yr_Bond____	2.943	▲	0.02	▲	0.72%	

NYSE Volume	 1,242,219,750 			 		 	
Nasdaq Volume	 616,902,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,954.18	▲	14.19	▲	0.24%	
	DAX_____	7,636.23	▼	-35.87	▼	-0.47%	
	CAC_40__	3,652.61	▼	-8.79	▼	-0.24%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,645.60	▲	10.40	▲	0.22%	
	Shanghai_Comp	2,159.05	▲	5.74	▲	0.27%	
	Taiwan_Weight	7,535.52	▼	-4.62	▼	-0.06%	
	Nikkei_225____	9,940.06	▼	-99.27	▼	-0.99%	
	Hang_Seng____	22,541.18	▲	53.93	▲	0.16%	
	Strait_Times___	3,168.57	▲	5.01	▲	0.16%	
	NZX_50_Index__	4,057.82	▲	3.08	▲	0.08%	

http://finance.yahoo.com/news/stocks-dip-budget-deal-doubt-154424626.html

*Stocks dip with budget deal in doubt at year's end

Stocks fall as lawmakers cast doubt on chances of reaching "fiscal cliff" deal*

By Steve Rothwell, AP Business Writer

Stocks fell in light trading Monday during a shortened holiday trading session with lawmakers running out of time to reach a budget deal that would prevent the U.S. from going over the so-called fiscal cliff. 

The Dow Jones industrial average fell 52 points to 13,139.08. The Standard & Poor's 500 index gave up 3 points to 1,426.66 The Nasdaq composite slipped 8.4 points to 3,012.60. 

In more than a dozen interviews with The Associated Press, conservative activists said they would rather see the country fall off the cliff than agree to any tax increases for any Americans, no matter how wealthy. 

With many in Washington away for the holidays, that scenario appears increasingly likely. 

"There is starting to become a little bit of an acceptance that we fall off the fiscal cliff," said JJ Kinahan, chief derivatives strategist for TD Ameritrade. "People are starting to think about how they may plan their portfolio if that does happen." 

Stocks fell sharply Friday, with the Dow logging its biggest drop in more than a month, after House Republicans called off a vote on tax rates. That left federal budget talks in disarray just days before sweeping tax increases and government spending cuts are scheduled to take effect. 

Sen. Joe Lieberman said Sunday that "it's the first time that I feel it's more likely we'll go over the cliff than not," following the collapse late Thursday of House Speaker John Boehner's plan to allow tax rates to rise on million-dollar-plus incomes. Wyoming Sen. Jon Barrasso, a member of the Republican leadership, predicted the new year would come without an agreement. 

Failure to agree on a budget plan before year-end would lead to simultaneous spending cuts and tax hikes that many fear may push the economy back into recession. 

President Barack Obama and Congress are on a short holiday break. Congress is expected to be back at work Thursday and Obama will be back in the White House after a few days in Hawaii. 

J.C. Penney Co.'s stock jumped after Oppenheimer analysts reiterated a "Buy" rating on the company Monday, saying that traffic in stores in the final weekend before Christmas was strong. The analysts said that this made them more optimistic that the company's new approach to promotion will help it through the holidays and into 2013. 

The stock gained 28 cents, or 1.4 percent, to $19.87. 

Other retailers may struggle though this holiday season, as Christmas shoppers rein in their spending, their spirits dampened by concerns about the economy and the aftermath of shootings and storms. Marshal Cohen, chief research analyst at NPD Inc., a market research firm with a network of analysts at shopping centers nationwide, estimates customer traffic over the weekend was in line with the same time a year ago, but that shoppers are spending less. 

Shoppers are increasingly worried about the fiscal cliff deadline, adding to the fall's retail woes after Superstorm Sandy's passage up the East Coast. 

Consumer spending drives about 70 percent of economic growth, so how confident people are about parting with money is crucial for any economic recovery. 

Falling stocks outnumbered gainers by a ratio of five to one in the 30-member Dow, with technology companies leading the decliners. Hewlett-Packard fell 33 cents, or 2.3 percent, to $14.01 and Microsoft Corp. dropped 39 cents, or 1.4 percent, to $27.06. 

Stocks may also come under pressure in coming days as investors who have seen their holdings gain this year, decide to sell and book the capital gains tax in 2012 so as to avoid any potential increase in that tax rate next year, according to Kinahan, of TD Ameritrade. 

"People who have had a nice year in a particular stock may say 'why not take the hit this year,' " said Kinahan. 

Barring a dramatic sell-off in the year's final days of trading, stocks will end the year higher on signs that the U.S. housing market is recovering and the U.S. economy is adding jobs. The Federal Reserve also announced a third-round of its so-called quantitative easing program in September. The program, intended to lower the cost of borrowing and spur lending, helped underpin demand for stocks. 

The S&P 500 is 13 percent higher for the year, the Dow is almost 8 percent up and the Nasdaq is nearly 16 percent higher. 

Trading volumes were lower than average today before the Christmas holiday Tuesday. The stock market will close at 1 p.m. Monday and will reopen Wednesday. 

The yield on the 10-year Treasury note rose 1 basis point to 1.78 percent. 

Among other stocks making big moves: 

””Herbalife Ltd., the nutritional supplements company, fell $1.21, or 4.4 percent, to $26.06. The stock has tumbled 43 percent this month after William Ackman, the founder and CEO of hedge fund Pershing Square Capital Management L.P., claimed that the nutritional supplements company is a pyramid scheme. 

The company said Monday that it


----------



## bigdog

Source: http://finance.yahoo.com 

For the stock market, this week hasn't been the most wonderful time of the year. 

U.S. stocks fell Wednesday for the third trading day in a row. Disappointing holiday sales weighed heavy on retail companies, and the unwelcome "fiscal cliff" package of higher taxes and lower government spending loomed nearer. 

The Dow Jones industrial average slipped 24.49 points to 13,114.59. The Standard & Poor's 500 index fell 6.83 to 1,419.83 and the Nasdaq composite lost 22.44 to 2,990.16. 

Karyn Cavanaugh, market strategist with ING Investment Management in New York, wrote a note to clients Wednesday highlighting the less-than-merry retail sales. 

"I hope that they're reading this from the mall," she said later, "because retail sales could use a boost." 

The MasterCard Advisors SpendingPulse report found that sales of electronics, clothing, jewelry and home goods increased just 0.7 percent in the two months before Christmas compared with the same period last year. 

That was well below the 3 to 4 percent that analysts had expected and the worst performance since 2008, when spending shrank during the depths of the Great Recession. 

Major U.S. retailers including Abercrombie & Fitch, Sears Holdings, Urban Outfitters, Limited Brands, Nike and Gap were all down. Handbag maker Coach, a bellwether of the luxury market, plummeted $3.39 to $54.13. It lost nearly 6 percent of its value, more than any other company in the S&P 500. 

Right behind it was online retailer Amazon.com, which helps analysts get a read on the entire retail market. It lost nearly 4 percent, falling $9.99 to $248.63. 

Plodding retail sales are a concern because consumer spending accounts for roughly 70 percent of the U.S. economy. When shoppers pull back on spending, that can take a chunk out of company earnings, which in turn pushes down the stock market. 

The retail numbers are also a sign that despite scattered hints of an improving economy, including a report Wednesday about rising home prices, many consumers remain uneasy about their prospects. 

"Consumers just aren't confident," said Jeff Sica, president and chief investment officer of SICA Wealth Management in Morristown, N.J. "They don't feel a sense of security that they're going to be able to maintain their job or their income or their savings." 

Sica pointed out that normally the market rises at this time of year ”” the so-called Santa Claus rally. Since 1969, stocks have risen an average of 1.6 percent over the last five days of December and the first two of January, according to The Stock Trader's Almanac. 

This year, it seems, the retail sales and "fiscal cliff" have been too much of an overhang. 

 *The NYSE DOW closed  	LOWER ▼	-24.49	points or ▼	-0.19%	Wednesday, 26 December 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,114.59	▼	-24.49	▼	-0.19%	 
	Nasdaq____	2,990.16	▼	-22.44	▼	-0.74%	
	S&P_500____	1,419.83	▼	-6.83	▼	-0.48%	
	30_Yr_Bond____	2.933	▼	-0.01	▼	-0.34%	

NYSE Volume	 2,273,327,500 			 		 	
Nasdaq Volume	 1,059,561,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,954.18	▲	14.19	▲	0.24%	 *- closed Dec 26th*
	DAX_____	7,636.23	▼	-35.87	▼	-0.47%	 *- closed Dec 26th*
	CAC_40__	3,652.61	▼	-8.79	▼	-0.24%	 *- closed Dec 26th*

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,645.60	▲	10.40	▲	0.22%	 *- closed Dec 26th*
	Shanghai_Comp	2,219.13	▲	5.52	▲	0.25%	
	Taiwan_Weight	7,634.19	▼	-2.38	▼	-0.03%	
	Nikkei_225____	10,230.36	▲	150.24	▲	1.49%	
	Hang_Seng____	22,541.18	▲	53.93	▲	0.16%	
	Strait_Times___	3,180.81	▲	12.24	▲	0.39%	
	NZX_50_Index__	4,057.82	▲	3.08	▲	0.08%	*- closed Dec 26th*


http://finance.yahoo.com/news/retai...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Retailers pull stocks lower on poor holiday sales

Indexes sink on Wall Street following the Christmas holiday; Retailers slump on weak sales*

By Christina Rexrode, AP Business Writer

For the stock market, this week hasn't been the most wonderful time of the year. 

U.S. stocks fell Wednesday for the third trading day in a row. Disappointing holiday sales weighed heavy on retail companies, and the unwelcome "fiscal cliff" package of higher taxes and lower government spending loomed nearer. 

The Dow Jones industrial average slipped 24.49 points to 13,114.59. The Standard & Poor's 500 index fell 6.83 to 1,419.83 and the Nasdaq composite lost 22.44 to 2,990.16. 

Karyn Cavanaugh, market strategist with ING Investment Management in New York, wrote a note to clients Wednesday highlighting the less-than-merry retail sales. 

"I hope that they're reading this from the mall," she said later, "because retail sales could use a boost." 

The MasterCard Advisors SpendingPulse report found that sales of electronics, clothing, jewelry and home goods increased just 0.7 percent in the two months before Christmas compared with the same period last year. 

That was well below the 3 to 4 percent that analysts had expected and the worst performance since 2008, when spending shrank during the depths of the Great Recession. 

Major U.S. retailers including Abercrombie & Fitch, Sears Holdings, Urban Outfitters, Limited Brands, Nike and Gap were all down. Handbag maker Coach, a bellwether of the luxury market, plummeted $3.39 to $54.13. It lost nearly 6 percent of its value, more than any other company in the S&P 500. 

Right behind it was online retailer Amazon.com, which helps analysts get a read on the entire retail market. It lost nearly 4 percent, falling $9.99 to $248.63. 

Plodding retail sales are a concern because consumer spending accounts for roughly 70 percent of the U.S. economy. When shoppers pull back on spending, that can take a chunk out of company earnings, which in turn pushes down the stock market. 

The retail numbers are also a sign that despite scattered hints of an improving economy, including a report Wednesday about rising home prices, many consumers remain uneasy about their prospects. 

"Consumers just aren't confident," said Jeff Sica, president and chief investment officer of SICA Wealth Management in Morristown, N.J. "They don't feel a sense of security that they're going to be able to maintain their job or their income or their savings." 

Sica pointed out that normally the market rises at this time of year ”” the so-called Santa Claus rally. Since 1969, stocks have risen an average of 1.6 percent over the last five days of December and the first two of January, according to The Stock Trader's Almanac. 

This year, it seems, the retail sales and "fiscal cliff" have been too much of an overhang. 

The "fiscal cliff" refers to lower government spending and higher taxes that will kick in Jan. 1, if Republicans and Democrats can't agree to a new budget by then. 

The Senate is due in session Thursday, and President Barack Obama is expected to return early from his Christmas vacation in Hawaii, arriving back in Washington early Thursday. Still, congressional officials said Wednesday they knew of no significant strides toward a compromise over the long Christmas weekend, and no negotiations have been set. 

It's not clear that the market would automatically rise if there is a deal, or automatically fall if there isn't. Except for the past three days, the market has risen more or less steadily since mid-November despite the lack of a "fiscal cliff" deal. That means many traders have been assuming that lawmakers would work out something before the deadline, so any positive effect from a compromise is already baked into stock prices. 

While a compromise is still possible, some analysts said that what the market feared most wasn't the cliff, but the possibility that lawmakers would come up with only a stop-gap solution. That would probably mean they'd have to meet again in the new year to hammer out a permanent deal, dragging out the uncertainty. 

"It's like ripping the Band-Aid off now versus later," Cavanaugh said. "The Band-Aid's got to come off. We've got to cut spending, we've got to pay down the debt." 

The bright spot was a report from the Standard & Poor's/Case-Shiller national home price index, which said that home prices rose in most major U.S. cities in October compared with a year ago. However, prices fell in many cities compared to the month before. 

The yield on the benchmark 10-year Treasury note edged down to 1.75 percent from 1.77 percent Monday, a sign that investors were taking money out of stocks and putting it into bonds. 

It was the first trading day after the Christmas holiday. Trading volume was low, and European markets were still closed. 

Just 2.3 billion shares were traded on the New York Stock Exchange. For the year so far, the average has been around 3.6 billion.


----------



## bigdog

Source: http://finance.yahoo.com 

The "fiscal cliff" took the stock market on a roller coaster Thursday. Small developments in the tense budget standoff yanked stocks back and forth throughout the day. 

In the end, U.S. stocks closed lower for the fourth day in a row, sending the unwelcome message that the budget standoff is still far from solved, the economy still far from healed. 

The erratic performance underscored how the "fiscal cliff" can yank the market back and forth. The term refers to automatic tax increases and government spending cuts that will kick in next week if Republicans and Democrats can't reach a budget agreement by Monday night. 

Stocks opened by hopping between small gains and losses, pulled up by news about fewer unemployment claims and down by the continuing lack of a budget deal in Washington. 

Then, stocks turned decisively downward at mid-morning, unnerved by twin fetters: a report that consumer confidence fell to its lowest level since August, and a warning from the Senate Majority Leader, Democrat Harry Reid, that he feared the government would miss the Monday night deadline for working out a budget compromise. 

A bright spot of economic news, an increase in sales of new homes, couldn't distract investors from worries about the budget impasse. Both Republicans and Democrats demanded that the other side take the initiative in compromising. The Dow Jones industrial average fell as much as 150 points, more than 1 percent. 

Then, just as the Dow appeared headed toward a triple-digit loss, it whipsawed again, this time higher, after House leaders announced in the late afternoon that the chamber would meet Sunday evening to work on the budget. 

At the close, stocks trimmed their losses but still closed lower. The Dow finished down 18.28 points to 13,096.31. The Standard & Poor's 500 index fell 1.73 to 1,418.10. The Nasdaq composite index lost 4.25 to 2,985.91. 

Until recently, investors were treating the "fiscal cliff" with a measure of nonchalance. Stocks rose more or less steadily from mid-November until late last week. 

But now, with the "fiscal cliff" deadline just days away and no deal in sight, more investors are paying attention. 

"This is a matter of a few personalities; it isn't something where you can analyze spreadsheets to figure out what's going on," said David Kelly, chief global strategist at JPMorgan Funds. "There are very few investors on one side or the other who have wanted to make a strong bet on this one." 

Many investors believe that the higher taxes and lower government spending could push the U.S. back into recession. 

 *The NYSE DOW closed  	LOWER ▼	-18.28	points or ▼	-0.14%	Thursday, 27 December 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,096.31	▼	-18.28	▼	-0.14%	
	Nasdaq____	2,985.91	▼	-4.25	▼	-0.14%	
	S&P_500____	1,418.10	▼	-1.73	▼	-0.12%	
	30_Yr_Bond____	2.881	▼	-0.05	▼	-1.77%	

NYSE Volume	 2,816,814,750 			 		 	
Nasdaq Volume	 1,337,907,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,954.30	▲	0.12	▲	0.00%	
	DAX_____	7,655.88	▼	-16.22	▼	-0.21%	
	CAC_40__	3,674.26	▲	12.86	▲	0.35%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,661.40	▲	15.80	▲	0.34%	
	Shanghai_Comp	2,205.90	▼	-13.23	▼	-0.60%	
	Taiwan_Weight	7,648.41	▲	14.22	▲	0.19%	
	Nikkei_225____	10,322.98	▲	92.62	▲	0.91%	
	Hang_Seng____	22,619.78	▲	53.93	▲	0.35%	
	Strait_Times___	3,183.93	▲	3.12	▲	0.10%	
	NZX_50_Index__	4,065.45	▲	0.00	▲	0.00%	

http://finance.yahoo.com/news/fisca...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Fiscal cliff whipsaws stocks; confidence dims

Stocks close lower after fiscal cliff negotiations yank them around; consumer confidence dims*

By Christina Rexrode, AP Business Writer

The "fiscal cliff" took the stock market on a roller coaster Thursday. Small developments in the tense budget standoff yanked stocks back and forth throughout the day. 

In the end, U.S. stocks closed lower for the fourth day in a row, sending the unwelcome message that the budget standoff is still far from solved, the economy still far from healed. 

The erratic performance underscored how the "fiscal cliff" can yank the market back and forth. The term refers to automatic tax increases and government spending cuts that will kick in next week if Republicans and Democrats can't reach a budget agreement by Monday night. 

Stocks opened by hopping between small gains and losses, pulled up by news about fewer unemployment claims and down by the continuing lack of a budget deal in Washington. 

Then, stocks turned decisively downward at mid-morning, unnerved by twin fetters: a report that consumer confidence fell to its lowest level since August, and a warning from the Senate Majority Leader, Democrat Harry Reid, that he feared the government would miss the Monday night deadline for working out a budget compromise. 

A bright spot of economic news, an increase in sales of new homes, couldn't distract investors from worries about the budget impasse. Both Republicans and Democrats demanded that the other side take the initiative in compromising. The Dow Jones industrial average fell as much as 150 points, more than 1 percent. 

Then, just as the Dow appeared headed toward a triple-digit loss, it whipsawed again, this time higher, after House leaders announced in the late afternoon that the chamber would meet Sunday evening to work on the budget. 

At the close, stocks trimmed their losses but still closed lower. The Dow finished down 18.28 points to 13,096.31. The Standard & Poor's 500 index fell 1.73 to 1,418.10. The Nasdaq composite index lost 4.25 to 2,985.91. 

Until recently, investors were treating the "fiscal cliff" with a measure of nonchalance. Stocks rose more or less steadily from mid-November until late last week. 

But now, with the "fiscal cliff" deadline just days away and no deal in sight, more investors are paying attention. 

"This is a matter of a few personalities; it isn't something where you can analyze spreadsheets to figure out what's going on," said David Kelly, chief global strategist at JPMorgan Funds. "There are very few investors on one side or the other who have wanted to make a strong bet on this one." 

Many investors believe that the higher taxes and lower government spending could push the U.S. back into recession. 

"This is not small potatoes," said Hugh Johnson, chairman and chief investment officer of Hugh Johnson Advisors in Albany, N.Y. "We're not going to miss a recession by much in 2013 as is." 

To be sure, plenty of traders think the "fiscal cliff" is overhyped. Even if the government misses the Monday deadline, the higher taxes and lower government spending would take effect only gradually, and Congress could always repeal them. 

Still, that doesn't mean they're not worried about the economy in general. 

Derrick Irwin, portfolio manager for Wells Fargo Advantage Funds, said he's "not particularly concerned" about the fiscal cliff ”” but he is concerned about the economy. 

"The economy is going to do what the economy is going to do," Irwin said, "it just doesn't look too good." 

Trading volume was light, with many investors still on Christmas vacation. About 2.8 billion shares traded hands, compared to an average this year of about 3.6 billion. Light volume can make the market more volatile. When fewer shares are changing hands, relatively small trades can move the overall market. 

The yield on the 10-year Treasury note edged down to 1.74 percent from 1.75 percent. 

Among stocks making big moves: 

””Chipmaker Marvell Technology Group dropped more than 3 percent, falling 26 cents to $7.14, after the company lost a patent case brought by Carnegie Mellon University. Marvell said it would fight the $1.2 billion ruling. 

””JCPenney fell nearly 6 percent, losing $1.23 to $19.52, after rising more than 4 percent the day before. The stock has been volatile as the company tries to remake its image to attract younger shoppers. 

””Steinway Musical Instruments fell more than 4 percent, down $1.02 to $21.50, after announcing that it doesn't plan to seek buyers.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks fell for a fifth day on concern that Washington lawmakers will fail to reach a budget deal before a self-imposed year-end deadline. 

The five-day losing streak for the Dow Jones industrial average was the longest since July. 

The Dow dropped 158.20 points to 12,938.11 points, with losses accelerating in the last 20 minutes of trading as reports circulated that President Barack Obama would not be making a new budget proposal in a meeting with congressional leaders. 

The Standard & Poor 500 index fell 15.67 points to 1,402.43, its longest losing streak in three months, and the Nasdaq dropped 25.59 points to 2,960.31. 

"The reality, late in the day, is that a deal is just not going to get done," said Ryan Detrick, a senior technical strategist at Schaeffer Investment Research. "We could be greeted by a big sell-off at the start of January." 

President Barack Obama returned from a Christmas break in Hawaii to meet with congressional leaders at the White House to try thrash out the terms of a deal that would prevent across-the-board tax increases for millions of Americans as well as simultaneous government spending cuts beginning Jan. 1. Those measures, if implemented, could push the economy back into recession, economists say. 

Stocks closed lower Thursday but erased most of an early loss after Republicans said they would reconvene the House of Representatives Sunday in hopes of piecing together a last-minute budget deal. 

Traders have been focusing on Washington, and the budget negotiations, since the Nov. 6 presidential election returned a divided government to power. 

"I can't wait till this is done, so we can start talking about markets again and not just about politics," said Doug Cote, chief market strategist at ING Investment Management. Cote doesn't expect lawmakers will manage to reach a deal before the deadline and says that when people assess the extent of tax increases on the way, "the market is going reel." 

Cote also expects slowing earnings growth to hit stocks. 

Despite the fiscal gridlock in Washington, major stock indexes are holding on to gains for the year. The Dow is up 5.9 percent, the S&P 500 index is 11.5 percent higher and the Nasdaq is up 13.6 percent. 

Stocks rose in 2012 on optimism that a housing market recovery, coupled with an improving job market, will support economic growth. The Federal Reserve has also extended its bond purchasing program, which is intended to lower borrowing costs and encourage spending and investment. 

Stocks declined despite reports that suggested the outlook for the economy is improving. 

 *The NYSE DOW closed  	LOWER ▼	-158.20	points or ▼	-1.21%	Friday, 28 December 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,938.11	▼	-158.20	▼	-1.21%	
	Nasdaq____	2,960.31	▼	-25.60	▼	-0.86%	
	S&P_500____	1,402.43	▼	-15.67	▼	-1.10%	
	30_Yr_Bond____	2.882	▲	0.00	▲	0.03%	

NYSE Volume	 2,407,418,500 			 		 	
Nasdaq Volume	 1,142,229,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,925.37	▼	-28.93	▼	-0.49%	
	DAX_____	7,612.39	▼	-43.49	▼	-0.57%	
	CAC_40__	3,620.25	▼	-54.01	▼	-1.47%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,685.30	▲	23.90	▲	0.51%	
	Shanghai_Comp	2,233.25	▲	27.35	▲	1.24%	
	Taiwan_Weight	7,699.50	▲	51.09	▲	0.67%	
	Nikkei_225____	10,395.18	▲	72.20	▲	0.70%	
	Hang_Seng____	22,666.59	▲	53.93	▲	0.21%	
	Strait_Times___	3,191.80	▲	7.87	▲	0.25%	
	NZX_50_Index__	4,080.90	▲	15.46	▲	0.38%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks tumble as 'fiscal cliff' deadline nears

Stocks tumble for a fifth day as 'fiscal cliff' deadline nears with no deal in sight*

By Steve Rothwell, AP Business Writer

Stocks fell for a fifth day on concern that Washington lawmakers will fail to reach a budget deal before a self-imposed year-end deadline. 

The five-day losing streak for the Dow Jones industrial average was the longest since July. 

The Dow dropped 158.20 points to 12,938.11 points, with losses accelerating in the last 20 minutes of trading as reports circulated that President Barack Obama would not be making a new budget proposal in a meeting with congressional leaders. 

The Standard & Poor 500 index fell 15.67 points to 1,402.43, its longest losing streak in three months, and the Nasdaq dropped 25.59 points to 2,960.31. 

"The reality, late in the day, is that a deal is just not going to get done," said Ryan Detrick, a senior technical strategist at Schaeffer Investment Research. "We could be greeted by a big sell-off at the start of January." 

President Barack Obama returned from a Christmas break in Hawaii to meet with congressional leaders at the White House to try thrash out the terms of a deal that would prevent across-the-board tax increases for millions of Americans as well as simultaneous government spending cuts beginning Jan. 1. Those measures, if implemented, could push the economy back into recession, economists say. 

Stocks closed lower Thursday but erased most of an early loss after Republicans said they would reconvene the House of Representatives Sunday in hopes of piecing together a last-minute budget deal. 

Traders have been focusing on Washington, and the budget negotiations, since the Nov. 6 presidential election returned a divided government to power. 

"I can't wait till this is done, so we can start talking about markets again and not just about politics," said Doug Cote, chief market strategist at ING Investment Management. Cote doesn't expect lawmakers will manage to reach a deal before the deadline and says that when people assess the extent of tax increases on the way, "the market is going reel." 

Cote also expects slowing earnings growth to hit stocks. 

Despite the fiscal gridlock in Washington, major stock indexes are holding on to gains for the year. The Dow is up 5.9 percent, the S&P 500 index is 11.5 percent higher and the Nasdaq is up 13.6 percent. 

Stocks rose in 2012 on optimism that a housing market recovery, coupled with an improving job market, will support economic growth. The Federal Reserve has also extended its bond purchasing program, which is intended to lower borrowing costs and encourage spending and investment. 

Stocks declined despite reports that suggested the outlook for the economy is improving. 

A measure of Americans who signed contracts to buy homes increased last month to its highest level in two and a half years, the latest sign of improvement in the once-battered housing market. The National Association of Realtors said Friday that its seasonally adjusted pending home sales index rose to its highest since April 2010. 

The Institute of Supply Management's Chicago-area purchasing managers index for December came in at 51.6, beating estimates for a gain to 51. 

Bond prices rose as investors moved money into defensive investments. The yield on the benchmark rise 10-year Treasury note, which falls when bond prices rise, dropped to 1.70 percent from 1.75 percent late Thursday. 

Among stocks making moves: 

Hewlett-Packard fell 36 cents, or 2.6 percent, to $13.68 after the computer and printer maker said the Department of Justice is investigating H-P's business software unit Autonomy. H-P bought Autonomy for $10 billion in 2011 and has accused the company's former management of fudging its accounting before the acquisition. H-P has lost almost half its market value this year, making it the biggest decliner among the 30 stocks in the Dow average. 

Barnes and Noble rose 62 cents, or 4.3 percent, to $14.97 after the U.K. publishing and education company Pearson said it is making an $89.5 million investment in the company's Nook Media division, as the two companies look to make a bigger digital push into the education sector.

0225


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market shot higher on Monday even as the "fiscal cliff" neared. By the time trading ended, Republicans and Democrats still hadn't reached a budget compromise ”” but investors were betting that they would. 

It was a dramatic day on what turned out to be a strong year for stocks. The Standard & Poor's 500 index rose 13.4 percent for the year, after finishing flat in 2011. It was the index's best year since 2009. The gains came despite a flare-up in Europe's debt crisis and anemic U.S. growth, bringing U.S. indexes close to their highs reached before the 2008 financial crisis. 

The close Monday was a high note in what had been a choppy day for the market, as choppy as the "fiscal cliff" deal-making that has been yanking it around. It also marked a turnaround after five straight days of "cliff"-influenced losses. The Dow Jones industrial average and the Standard & Poor's 500 both climbed more than 1 percent. The Nasdaq composite index rose 2 percent. 

Stocks fell at the opening of trading Monday and struggled for direction throughout the morning. The indecisiveness overlaid a day of dramatic budget negotiations in Washington, where lawmakers were trying to hammer out a new budget deal to avert the "fiscal cliff." That refers to automatic tax increases and government spending cuts that will kick in without a budget deal. 

Stocks jerked higher at midday following reports that the bare outline of a deal to avoid the "cliff" had been knit together. The gains faded after President Barack Obama said in the early afternoon that a compromise was "within sight," but not finalized. Then, in the late afternoon, the indexes shot higher again. Congressional Republicans and the Democratic White House said they had agreed on some measures, but still had no final deal in hand. 

At the close of trading, Dow Jones industrial average was up 166.03 points, finishing the year at 13,104.14. That's a gain of 7.3 percent for the year, its fourth straight year of gains. 

The S&P 500 rose 23.76 to 1,426.19. The Nasdaq composite climbed 59.20 to 3,019.51. For the year the Nasdaq rose 15.9 percent. 

 *The NYSE DOW closed  	HIGHER ▲	166.03	points or ▲	1.28%	Monday, 31 December 2012	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,104.14	▲	166.03	▲	1.28%	
	Nasdaq____	3,019.51	▲	59.20	▲	2.00%	
	S&P_500____	1,426.19	▲	23.76	▲	1.69%	
	30_Yr_Bond____	2.952	▲	0.07	▲	2.43%	

NYSE Volume	 3,546,459,750 			 		 	
Nasdaq Volume	 1,553,281,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,897.81	▼	-27.56	▼	-0.47%	
	DAX_____	7,612.39	▼	-43.49	▼	-0.57%	
	CAC_40__	3,641.07	▼	-33.19	▼	-0.90%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,664.60	▼	-20.70	▼	-0.44%	
	Shanghai_Comp	2,269.13	▲	35.88	▲	1.61%	
	Taiwan_Weight	7,699.50	▲	51.09	▲	0.67%	
	Nikkei_225____	10,395.18	▲	72.20	▲	0.70%	
	Hang_Seng____	22,656.92	▲	53.93	▼	-0.04%	
	Strait_Times___	3,167.08	▼	-24.72	▼	-0.77%	
	NZX_50_Index__	4,066.51	▼	-14.39	▼	-0.35%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks shoot up as investors bet on 'cliff' deal

Investors bet that Washington will work out a 'fiscal cliff' deal, sending stocks higher*

By Christina Rexrode, AP Business Writer

The stock market shot higher on Monday even as the "fiscal cliff" neared. By the time trading ended, Republicans and Democrats still hadn't reached a budget compromise ”” but investors were betting that they would. 

It was a dramatic day on what turned out to be a strong year for stocks. The Standard & Poor's 500 index rose 13.4 percent for the year, after finishing flat in 2011. It was the index's best year since 2009. The gains came despite a flare-up in Europe's debt crisis and anemic U.S. growth, bringing U.S. indexes close to their highs reached before the 2008 financial crisis. 

The close Monday was a high note in what had been a choppy day for the market, as choppy as the "fiscal cliff" deal-making that has been yanking it around. It also marked a turnaround after five straight days of "cliff"-influenced losses. The Dow Jones industrial average and the Standard & Poor's 500 both climbed more than 1 percent. The Nasdaq composite index rose 2 percent. 

Stocks fell at the opening of trading Monday and struggled for direction throughout the morning. The indecisiveness overlaid a day of dramatic budget negotiations in Washington, where lawmakers were trying to hammer out a new budget deal to avert the "fiscal cliff." That refers to automatic tax increases and government spending cuts that will kick in without a budget deal. 

Stocks jerked higher at midday following reports that the bare outline of a deal to avoid the "cliff" had been knit together. The gains faded after President Barack Obama said in the early afternoon that a compromise was "within sight," but not finalized. Then, in the late afternoon, the indexes shot higher again. Congressional Republicans and the Democratic White House said they had agreed on some measures, but still had no final deal in hand. 

At the close of trading, Dow Jones industrial average was up 166.03 points, finishing the year at 13,104.14. That's a gain of 7.3 percent for the year, its fourth straight year of gains. 

The S&P 500 rose 23.76 to 1,426.19. The Nasdaq composite climbed 59.20 to 3,019.51. For the year the Nasdaq rose 15.9 percent. 

With the "fiscal cliff" still closing in, investors' opinions about its potential impact varied, making its long-term effect on the market hard to guess. 

Some investors are unruffled. They think that even if the U.S. does go over the "cliff," it would be more akin to the anti-climactic Y2K scare than a true Armageddon. The "cliff's" impact would be felt only gradually, they reason. For example, workers might get more taxes withheld from their first couple of paychecks in the new year, but it's not as if they'd have to pay all their higher taxes up front on Tuesday. And Congress could always retroactively repeal those higher taxes. 

Others are more concerned. The higher taxes and lower government spending could take more than $600 billion out of the U.S. economy and send it back into recession. Investors would have no good read on the country's long-term policy for taxes and spending. 

The psychological impact ”” the U.S. would essentially be broadcasting that its lawmakers can't compromise ”” would also hurt. 

"We're having a fragile recovery, with the pain of 2008 still fresh on everybody's mind," said Joe Heider, principal at Rehmann Group outside Cleveland. "It's fear of the unknown. And fear is one of the greatest drivers of the financial markets." 

Tim Speiss, partner in charge of the personal wealth advisers practice at EisnerAmper in New York, followed the "cliff" negotiations on Monday and wondered if the U.S. would get its debt rating cut again. The Standard & Poor's ratings agency cut its rating of the U.S. government amid similar negotiations in August 2011, when lawmakers were arguing over the government's borrowing limit. S&P said at the time that the "political brinksmanship" highlighted how "America's governance and policymaking (is) becoming less stable, less effective, and less predictable." Its rating cut sent the stock market into a tailspin. 

The other major ratings agencies, Moody's and Fitch, have suggested that they might lower their ratings of the U.S. because of the "fiscal cliff." 

"That is, unfortunately, the big story," Speiss said. 

It's also one of the only stories. There's been little other news to trade on during the holiday season, giving the "fiscal cliff" drama outsized influence. No major companies are scheduled to report earnings this week. The most significant economic indicator scheduled for this week, the government's monthly jobs report, won't be released until Friday. 

The yield on the benchmark 10-year Treasury note rose to 1.76 percent from 1.70 percent late Friday, a sign that investors were moving money into stocks. 

Some of the best-performing stocks for the year were those that were making up for deep losses in 2011. Homebuilder PulteGroup nearly tripled after falling for five of the previous six years. Appliance maker Whirlpool and Bank of America more than doubled over the year, after falling by double-digit percentages in 2011. 

Some of the worst performers of 2012 were Best Buy, Hewlett-Packard and J.C. Penney. All are struggling to keep up with competitors who have adapted more quickly to changing technologies and customer tastes. They were all up for the day, but were all down at least 44 percent for the year.


----------



## bigdog

Source: http://finance.yahoo.com 

The "fiscal cliff" compromise, even with all its chaos, controversy and unresolved questions, was enough to ignite the stock market on Wednesday, the first trading day of the new year. 

The Dow Jones industrial average careened more than 300 points higher, its biggest gain since December 2011. It's now just 5 percent below its record high close reached in October 2007. The Russell 2000, an index that tracks smaller companies, shot up to the highest close in its history. 

The reverie multiplied across the globe, with stock indexes throughout Europe and Asia leaping higher. A leading British index, the FTSE 100, closed above 6,000 for the first time since July 2011. 

In the U.S., the rally was extraordinarily broad. For every stock that fell on the New York Stock Exchange, roughly 10 rose. Technology stocks rose the most. U.S. government bond prices fell sharply as investors pulled money out of safe-harbor investments. And the VIX, an index that measures investors' expectations of future market volatility, plunged more than 18 percent to 14.68, the lowest close since October. 

The very last week of each year and the first two days of the new year usually average out to a gain for U.S. stocks. But this year stood out. From 2008 to 2012, the Dow rose an average of 93 points on the first trading day of the year, less than a third of Wednesday's gain of 308.41. During that period the Dow fell on the first trading day of the year only once, in 2008. 

Despite the euphoria, many investors remained cautious. The deal that politicians hammered out merely postpones the country's budget reckoning, they said, rather than averting it. 

"Washington negotiations remind me of the Beach Boys song, 'We'll have fun, fun, fun 'til her daddy takes the T-Bird away," Jack Ablin, chief investment officer of BMO Private Bank in Chicago, wrote in a note to clients. 

"Nothing got solved," added T. Doug Dale, chief investment officer for Security Ballew Wealth Management in Jackson, Miss. 

According to these and other market watchers, investors were celebrating Wednesday not because they love the budget deal that was cobbled together, but because they were grateful there was any deal at all. 

"Most people think that no deal would have been worse than a bad deal," said Mark Lehmann, president of JMP Securities in San Francisco. 

The House passed the budget bill late Tuesday night, a contentious exercise because many Republicans had wanted a deal that did more to cut government spending. The Senate had already approved the bill. 

The late-night haggling was a product of lawmakers wanting to avert a sweeping set of government spending cuts and tax increases that kicked in Tuesday, the start of the new year, because there was no budget deal ready. The scenario came to be known as the fiscal cliff, because of the threat it posed to the fragile U.S. economic recovery. 

The bill passed Tuesday night ended the stalemate for now, but it leaves many questions unanswered. 

The deal doesn't include any significant deficit-cutting agreement, meaning the country still doesn't have a long-term plan or even an agreement in principle on how to rein in spending. Big cuts to defense and domestic programs, which were slated to kick in with the new year, weren't worked out but instead were just delayed for two months. And the U.S. is still bumping up against its borrowing limit, or "debt ceiling." 

"There's definitely another drama coming down the road," said Lehmann. "That's the March cliff." 

The political bickering that's almost certain to persist could have another unwelcome effect: influencing ratings agencies to cut the U.S. government's credit score. That happened before, when Standard & Poor's cut its rating on U.S. government debt in August 2011, and the stock market plunged. 

Even so, Wednesday's performance gave no hint of the dark clouds on the horizon. 

The Dow enjoyed big gains throughout the day, up by more than 200 points within minutes of the opening bell. It swelled even bigger in the final half hour of trading, and closed up 2.4 percent to 13,412.55. 

The Standard & Poor's 500 jumped 36.23, or 2.5 percent, to 1,462.42. The Nasdaq rose 92.75, or 3.1 percent, to 3,112.26.

 *The NYSE DOW closed  	HIGHER ▲	308.41	points or ▲	2.35%	Wednesday, 2 January 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,412.55	▲	308.41	▲	2.35%	
	Nasdaq____	3,112.26	▲	92.75	▲	3.07%	
	S&P_500____	1,462.42	▲	36.23	▲	2.54%	
	30_Yr_Bond____	3.046	▲	0.09	▲	3.18%	

NYSE Volume	 4,634,515,500 			 		 	
Nasdaq Volume	 2,071,182,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,027.37	▲	129.56	▲	2.20%	
	DAX_____	7,778.78	▲	166.39	▲	2.19%	
	CAC_40__	3,733.93	▲	92.86	▲	2.55%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,722.90	▲	58.30	▲	1.25%	
	Shanghai_Comp	2,269.13	▲	35.88	▲	1.61%	
	Taiwan_Weight	7,779.22	▲	79.72	▲	1.04%	
	Nikkei_225____	10,395.18	▲	72.20	▲	0.70%	
	Hang_Seng____	23,311.98	▲	53.93	▲	2.89%	
	Strait_Times___	3,201.74	▲	34.66	▲	1.09%	
	NZX_50_Index__	4,066.51	▼	-14.39	▼	-0.35%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks soar on budget deal, but problems lurk

Budget deal sends markets surging, but unresolved questions lurk on deficit and spending cuts*

By Christina Rexrode, AP Business Writer

NEW YORK (AP) -- The "fiscal cliff" compromise, even with all its chaos, controversy and unresolved questions, was enough to ignite the stock market on Wednesday, the first trading day of the new year. 

The Dow Jones industrial average careened more than 300 points higher, its biggest gain since December 2011. It's now just 5 percent below its record high close reached in October 2007. The Russell 2000, an index that tracks smaller companies, shot up to the highest close in its history. 

The reverie multiplied across the globe, with stock indexes throughout Europe and Asia leaping higher. A leading British index, the FTSE 100, closed above 6,000 for the first time since July 2011. 

In the U.S., the rally was extraordinarily broad. For every stock that fell on the New York Stock Exchange, roughly 10 rose. Technology stocks rose the most. U.S. government bond prices fell sharply as investors pulled money out of safe-harbor investments. And the VIX, an index that measures investors' expectations of future market volatility, plunged more than 18 percent to 14.68, the lowest close since October. 

The very last week of each year and the first two days of the new year usually average out to a gain for U.S. stocks. But this year stood out. From 2008 to 2012, the Dow rose an average of 93 points on the first trading day of the year, less than a third of Wednesday's gain of 308.41. During that period the Dow fell on the first trading day of the year only once, in 2008. 

Despite the euphoria, many investors remained cautious. The deal that politicians hammered out merely postpones the country's budget reckoning, they said, rather than averting it. 

"Washington negotiations remind me of the Beach Boys song, 'We'll have fun, fun, fun 'til her daddy takes the T-Bird away," Jack Ablin, chief investment officer of BMO Private Bank in Chicago, wrote in a note to clients. 

"Nothing got solved," added T. Doug Dale, chief investment officer for Security Ballew Wealth Management in Jackson, Miss. 

According to these and other market watchers, investors were celebrating Wednesday not because they love the budget deal that was cobbled together, but because they were grateful there was any deal at all. 

"Most people think that no deal would have been worse than a bad deal," said Mark Lehmann, president of JMP Securities in San Francisco. 

The House passed the budget bill late Tuesday night, a contentious exercise because many Republicans had wanted a deal that did more to cut government spending. The Senate had already approved the bill. 

The late-night haggling was a product of lawmakers wanting to avert a sweeping set of government spending cuts and tax increases that kicked in Tuesday, the start of the new year, because there was no budget deal ready. The scenario came to be known as the fiscal cliff, because of the threat it posed to the fragile U.S. economic recovery. 

The bill passed Tuesday night ended the stalemate for now, but it leaves many questions unanswered. 

The deal doesn't include any significant deficit-cutting agreement, meaning the country still doesn't have a long-term plan or even an agreement in principle on how to rein in spending. Big cuts to defense and domestic programs, which were slated to kick in with the new year, weren't worked out but instead were just delayed for two months. And the U.S. is still bumping up against its borrowing limit, or "debt ceiling." 

"There's definitely another drama coming down the road," said Lehmann. "That's the March cliff." 

The political bickering that's almost certain to persist could have another unwelcome effect: influencing ratings agencies to cut the U.S. government's credit score. That happened before, when Standard & Poor's cut its rating on U.S. government debt in August 2011, and the stock market plunged. 

Even so, Wednesday's performance gave no hint of the dark clouds on the horizon. 

The Dow enjoyed big gains throughout the day, up by more than 200 points within minutes of the opening bell. It swelled even bigger in the final half hour of trading, and closed up 2.4 percent to 13,412.55. 

The Standard & Poor's 500 jumped 36.23, or 2.5 percent, to 1,462.42. The Nasdaq rose 92.75, or 3.1 percent, to 3,112.26. 

The yield on the 10-year Treasury note rose sharply, to 1.84 percent from 1.75 percent. Prices for oil and key metals were up. The price of copper, which can be a gauge of how investors feel about manufacturing, rose 2.3 percent. 

The gains persisted despite small reminders that there are still serious problems punctuating the world economy, like middling growth in the U.S. and the still-unsolved European debt crisis. The government reported that U.S. builders spent less on construction projects in November, the first decline in eight months. And the president of debt-wracked Cyprus said he'd refuse to sell government-owned companies, a provision that the country's bailout deal says it must at least consider. 

Among stocks making big moves, Zipcar shot up 48 percent, rising $3.94 to $12.18, after the company said it would sell itself to Avis. Avis rose 95 cents to $20.77, or 5 percent. 

Marriott rose 4 percent, up $1.52 to $38.79, after SunTrust analysts upgraded the stock to "buy." Headphone maker Skullcandy dropped 13 percent, losing 99 cents to $6.80, after Jefferies analysts downgraded it to "underperform."


----------



## bigdog

Source: http://finance.yahoo.com 

A two-day rally in the stock market came to an end Thursday afternoon when an account of the Federal Reserve's last meeting revealed a split between bank officials over how long the Fed should keep buying bonds to support the economy. 

The Dow Jones industrial average and the Standard & Poor's 500 index treaded water for much of the day, then slid into the red around 2 p.m. Eastern, after the Fed released the minutes from its December meeting. 

The Dow ended with a loss of 21.19 points at 13,391.36. 

The S&P 500 lost 3.05 points to 1,459.37 and the Nasdaq composite fell 11.70 to 3,100.57. 

At last month's meeting of the Federal Reserve's policy-making committee, the central bank pledged to buy $85 billion of Treasurys and mortgage-backed bonds and also keep a benchmark interest rate near zero until the unemployment rates drops below 6.5 percent. 

On Thursday, the minutes from that meeting showed Fed officials were divided over the bond purchases. Some of its 12 voting members thought they should continue through this year, while another group thought they should be slowed or stopped much earlier. Just "a few" members saw no need for a time frame, according to the minutes. 

"It's pretty surprising," said Thomas Simons, market economist at the investment bank Jefferies. "I think everybody thought there was broad agreement on policy, but now it seems like few of them really wanted to vote for it." 

The stock market opened on a weak note after retailers reported mixed holiday sales and as the prospect of a new budget battle in Congress loomed. UnitedHealth Group led the Dow lower. The insurance giant's stock fell $2.55 to $51.99 after analysts at Deutsche Bank and other firms cut their ratings on the stock. 

"It's natural to relax a bit after such a huge day as yesterday," said Lawrence Creatura, who manages a small-company fund at Federated Investors. 

The Dow soared 308 points Wednesday, its largest point gain since December 2011. The rally was ignited after lawmakers passed a bill to avoid a combination of government spending cuts and tax increases called the "fiscal cliff." 

That deal gave the market a jump start into the new year. The Dow and the S&P 500 are already up more than 2 percent. 

 *The NYSE DOW closed  	LOWER ▼	-21.19	points or ▼	-0.16%	Thursday, 3 January 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,391.36	▼	-21.19	▼	-0.16%	
	Nasdaq____	3,100.57	▼	-11.69	▼	-0.38%	
	S&P_500____	1,459.37	▼	-3.05	▼	-0.21%	
	30_Yr_Bond____	3.107	▲	0.06	▲	2.00%	

NYSE Volume	 4,099,509,500 			 		 	
Nasdaq Volume	 1,762,376,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,047.34	▲	19.97	▲	0.33%	
	DAX_____	7,756.44	▼	-22.34	▼	-0.29%	
	CAC_40__	3,721.17	▼	-12.76	▼	-0.34%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,761.40	▲	38.50	▲	0.82%	
	Shanghai_Comp	2,269.13	▲	35.88	▲	1.61%	
	Taiwan_Weight	7,836.84	▲	57.62	▲	0.74%	
	Nikkei_225____	10,395.18	▲	72.20	▲	0.70%	
	Hang_Seng____	23,398.60	▲	53.93	▲	0.37%	
	Strait_Times___	3,224.80	▲	23.06	▲	0.72%	
	NZX_50_Index__	4,082.37	▲	15.85	▲	0.39%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks fade after Fed discloses split on stimulus

Stocks slip as a fight over debt ceiling looms; Fed governors are split over stimulus plan*

By Matthew Craft, AP Business Writer

A two-day rally in the stock market came to an end Thursday afternoon when an account of the Federal Reserve's last meeting revealed a split between bank officials over how long the Fed should keep buying bonds to support the economy. 

The Dow Jones industrial average and the Standard & Poor's 500 index treaded water for much of the day, then slid into the red around 2 p.m. Eastern, after the Fed released the minutes from its December meeting. 

The Dow ended with a loss of 21.19 points at 13,391.36. 

The S&P 500 lost 3.05 points to 1,459.37 and the Nasdaq composite fell 11.70 to 3,100.57. 

At last month's meeting of the Federal Reserve's policy-making committee, the central bank pledged to buy $85 billion of Treasurys and mortgage-backed bonds and also keep a benchmark interest rate near zero until the unemployment rates drops below 6.5 percent. 

On Thursday, the minutes from that meeting showed Fed officials were divided over the bond purchases. Some of its 12 voting members thought they should continue through this year, while another group thought they should be slowed or stopped much earlier. Just "a few" members saw no need for a time frame, according to the minutes. 

"It's pretty surprising," said Thomas Simons, market economist at the investment bank Jefferies. "I think everybody thought there was broad agreement on policy, but now it seems like few of them really wanted to vote for it." 

The stock market opened on a weak note after retailers reported mixed holiday sales and as the prospect of a new budget battle in Congress loomed. UnitedHealth Group led the Dow lower. The insurance giant's stock fell $2.55 to $51.99 after analysts at Deutsche Bank and other firms cut their ratings on the stock. 

"It's natural to relax a bit after such a huge day as yesterday," said Lawrence Creatura, who manages a small-company fund at Federated Investors. 

The Dow soared 308 points Wednesday, its largest point gain since December 2011. The rally was ignited after lawmakers passed a bill to avoid a combination of government spending cuts and tax increases called the "fiscal cliff." 

That deal gave the market a jump start into the new year. The Dow and the S&P 500 are already up more than 2 percent. 

"We're off to a very strong start," Creatura said. "The dominant reason is the resolution of the fiscal cliff. But January is usually a strong month, as investors all shift money into the market at the same time. When the calendar flips, it's as if you're allowed to begin the race anew." 

Economists had warned that the full force of the fiscal cliff could drag the country into a recession. The law passed late Tuesday night averted that outcome for now, but other fiscal squabbles are likely in the months ahead. Congress must raise the government's borrowing limit soon or be forced to choose between slashing spending and paying its debts. 

In other Thursday trading, prices of U.S. government bonds fell, sending their yields higher. The yield on the benchmark 10-year Treasury note rose to 1.90 percent from 1.84 percent late Wednesday, a sign that some bond traders believe the Fed minutes hinted at an early end to its bond buying. 

Family Dollar Stores sank 13 percent after reporting earnings that fell short of analysts' projections. The company also forecast a weaker outlook for the current period and full year. Family Dollar's stock lost $8.30 to $55.74. 

Nordstom Inc. surged 3 percent after the department-store chain reported strong holiday sales, especially in the South and Midwest. Nordstrom's stock was up $1.64 to $55.27. 

Among other stocks making big moves: 

”” Transocean jumped $2.96 to $49.20. The owner of the oil rig that sank in the Gulf of Mexico in 2010 after an explosion killed 11 workers reached a $1.4 billion settlement with the Justice Department. 

”” Hormel Foods, known for making Spam and other meat products, said that it's buying Skippy, the country's No. 2 peanut butter brand, from Unilever for about $700 million. Hormel's stock jumped $1.19 to $33.20


----------



## bigdog

Source: http://finance.yahoo.com 

The Standard & Poor's 500 closed at its highest in five years Friday after a report showed that hiring held up in December, giving stocks an early lift. 

The S&P 500 finished up 7.10 points at 1,466.47, its highest close since December 2007. 

The index began its descent from a record close of 1,565.15 in October 2007, as the early signs of the financial crisis began to emerge. The index bottomed out in March 2009 at 676.53 before staging a recovery that has seen it more than double in value and move to within 99 points of its all-time peak. 

The Dow Jones industrial average finished 43.85 points higher at 13,435.21. It gained 3.8 percent for the week, its biggest weekly advance since June. The Nasdaq closed up 1.09 point at 3,101.66. 

Stocks have surged this week after lawmakers passed a bill to avoid a combination of government spending cuts and tax increases that have come to be known as the "fiscal cliff." The law passed late Tuesday night averted that outcome, which could have pushed the economy back into recession. 

The Labor Department said U.S. employers added 155,000 jobs in December, showing that hiring held up during the tense fiscal negotiations in Washington. It also said hiring was stronger in November than first thought. The unemployment rate held steady at 7.8 percent. 

The jobs report failed to give stocks more of a boost because the number of jobs was exactly in line with analysts' forecasts, said JJ Kinahan, chief derivatives trader for TD Ameritrade. 

"The jobs report couldn't have been more in line," Kinahan said. "The market had more to lose than to gain from it." 

 *The NYSE DOW closed  	HIGHER ▲	43.85	points or ▲	0.33%	Friday, 4 January 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,435.21	▲	43.85	▲	0.33%	
	Nasdaq____	3,101.66	▲	1.09	▲	0.04%	
	S&P_500____	1,466.47	▲	7.10	▲	0.49%	
	30_Yr_Bond____	3.111	▲	0.00	▲	0.13%	

NYSE Volume	 3,662,983,000 			 		 	
Nasdaq Volume	 1,743,607,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,089.84	▲	42.50	▲	0.70%	
	DAX_____	7,776.37	▲	19.93	▲	0.26%	
	CAC_40__	3,730.02	▲	8.85	▲	0.24%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,742.90	▼	-18.50	▼	-0.39%	
	Shanghai_Comp	2,276.99	▲	7.86	▲	0.35%	
	Taiwan_Weight	7,805.99	▼	-30.85	▼	-0.39%	
	Nikkei_225____	10,688.11	▲	292.93	▲	2.82%	
	Hang_Seng____	23,331.09	▲	53.93	▼	-0.29%	
	Strait_Times___	3,225.22	▲	0.42	▲	0.01%	
	NZX_50_Index__	4,075.04	▼	-7.33	▼	-0.18%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks gain, pushing the S&P 500 to 5-year high

Stocks advance after December jobs report lifts S&P 500 to its highest close in 5-years*

By Steve Rothwell, AP Markets Writer

The Standard & Poor's 500 closed at its highest in five years Friday after a report showed that hiring held up in December, giving stocks an early lift. 

The S&P 500 finished up 7.10 points at 1,466.47, its highest close since December 2007. 

The index began its descent from a record close of 1,565.15 in October 2007, as the early signs of the financial crisis began to emerge. The index bottomed out in March 2009 at 676.53 before staging a recovery that has seen it more than double in value and move to within 99 points of its all-time peak. 

The Dow Jones industrial average finished 43.85 points higher at 13,435.21. It gained 3.8 percent for the week, its biggest weekly advance since June. The Nasdaq closed up 1.09 point at 3,101.66. 

Stocks have surged this week after lawmakers passed a bill to avoid a combination of government spending cuts and tax increases that have come to be known as the "fiscal cliff." The law passed late Tuesday night averted that outcome, which could have pushed the economy back into recession. 

The Labor Department said U.S. employers added 155,000 jobs in December, showing that hiring held up during the tense fiscal negotiations in Washington. It also said hiring was stronger in November than first thought. The unemployment rate held steady at 7.8 percent. 

The jobs report failed to give stocks more of a boost because the number of jobs was exactly in line with analysts' forecasts, said JJ Kinahan, chief derivatives trader for TD Ameritrade. 

"The jobs report couldn't have been more in line," Kinahan said. "The market had more to lose than to gain from it." 

Among stocks making big moves, Eli Lilly and Co. jumped $1.84, or 3.7 percent, to $51.56 after saying that its earnings will grow more than Wall Street expects, even though the drugmaker will lose U.S. patent protection for two more product types this year. 

Walgreen Co., the nation's largest drugstore chain, fell 61 cents, or 1.6 percent, to $37.18 after the company said that a measure of revenue fell more than analysts had expected in December, even as prescription counts continued to recover. 

Stocks may also be benefiting as investors adjust their portfolios to favor stocks over bonds, said TD Ameritrade's Kinahan. A multi-year rally in bonds has pushed up prices for the securities and reduced the yield that they offer, in many cases to levels below company dividends. 

Goldman Sachs reaffirmed its view that stocks "can be an attractive source of income," and warned that there is a risk that bonds may fall. In a note to clients, the investment bank said that an index of AAA rated corporate bonds offers a yield of just 1.6 percent, less than the S&P 500's dividend yield of 2.2 percent. 

The 10-year Treasury note fell, pushing its yield higher. The yield on the 10-year note fell 2 basis points to 1.91 percent. The note's yield has now climbed 52 basis points since falling to its lowest in at least 20 years in July. 

Other notable stock moves; 

”” Accuray Inc. plunged $1.37, or 20 percent, to $5.41 after the radiation oncology equipment company reported weak sales and said it would cut 13 percent of its staff. 

”” Lululemon, a yoga apparel maker, dropped $3.14, or 4.2 percent, to $71.95 after Credit Suisse predicted slowing momentum and downgraded its stock. 

”” Finish Line Inc., an athletic footwear and clothing company, fell $1.58, or 8.3 percent, to $17.18 after it reported a small loss after sneaker trends changed and customers didn't take to its new web site launched in November. Analysts had forecast a profit.

1004


----------



## bigdog

Source: http://finance.yahoo.com 

Investors started the week on a cautious note, pulling the Standard & Poor's 500 index down from the five-year high it reached Friday. 

The move lower on Monday is likely the result of traders taking some winnings off the table after the stock market's surge last week, said Sam Stovall, chief equity strategist at S&P Capital IQ. 

Investors are also preparing for corporate America's seasonal parade of earnings reports, which starts Tuesday. 

"You can summarize it as profit-taking and preparation," Stovall said. "Investors are digesting some of those gains from last week and positioning themselves so they're not too far extended if fourth-quarter earnings slip a bit." 

The S&P 500 fell 4.58 points to close at 1,461.89. 

The Dow Jones industrial average lost 50.92 points to 13,384.29, while the Nasdaq composite dropped 2.84 points to 3,098.81. 

The S&P 500 soared 4.6 percent last week, ending Friday at a five-year high. The government reported that hiring held up in December during the tense budget negotiations in Washington, with employers adding 155,000 jobs during the month. 

Investors celebrated to start the year as lawmakers passed a bill to avoid a combination of government spending cuts and tax increases that came to be known as the "fiscal cliff." The law passed late Tuesday night avoided the full force of the budget cuts, which could have dragged the economy into a recession. 

Investors are now shifting their focus to corporate profits. Aluminum producer Alcoa launches the reporting season for the fourth quarter of 2012 after the market closes on Tuesday. 

Analysts forecast that companies in the S&P 500 will report that quarterly earnings increased 3.3 percent compared with the same period the year before, according to S&P Capital IQ. But all the events that took place in the last three months of 2012 -- Superstorm Sandy, the presidential election, and worries about the narrowly avoided "fiscal cliff" -- could make for some surprises. 

 *The NYSE DOW closed  	LOWER ▼	-50.92	points or ▼	-0.38%	Monday, 7 January 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,384.29	▼	-50.92	▼	-0.38%	
	Nasdaq____	3,098.81	▼	-2.85	▼	-0.09%	
	S&P_500____	1,461.89	▼	-4.58	▼	-0.31%	
	30_Yr_Bond____	3.100	▼	-0.01	▼	-0.35%	

NYSE Volume	 3,513,939,500 			 		 	
Nasdaq Volume	 1,702,472,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,064.58	▼	-25.26	▼	-0.41%	
	DAX_____	7,732.66	▼	-43.71	▼	-0.56%	
	CAC_40__	3,704.64	▼	-25.38	▼	-0.68%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,738.10	▼	-4.80	▼	-0.10%	
	Shanghai_Comp	2,285.36	▲	8.37	▲	0.37%	
	Taiwan_Weight	7,755.09	▼	-50.90	▼	-0.65%	
	Nikkei_225____	10,599.01	▼	-89.10	▼	-0.83%	
	Hang_Seng____	23,329.75	▲	53.93	▼	-0.01%	
	Strait_Times___	3,224.29	▼	-0.93	▼	-0.03%	
	NZX_50_Index__	4,084.84	▲	9.80	▲	0.24%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks sink, pulling S&P 500 down from 5-year high

Stocks fall on Wall Street, pulling the Standard & Poor's 500 index down from a 5-year high*

By Steve Rothwell and Matthew Craft, AP Business 

Investors started the week on a cautious note, pulling the Standard & Poor's 500 index down from the five-year high it reached Friday. 

The move lower on Monday is likely the result of traders taking some winnings off the table after the stock market's surge last week, said Sam Stovall, chief equity strategist at S&P Capital IQ. 

Investors are also preparing for corporate America's seasonal parade of earnings reports, which starts Tuesday. 

"You can summarize it as profit-taking and preparation," Stovall said. "Investors are digesting some of those gains from last week and positioning themselves so they're not too far extended if fourth-quarter earnings slip a bit." 

The S&P 500 fell 4.58 points to close at 1,461.89. 

The Dow Jones industrial average lost 50.92 points to 13,384.29, while the Nasdaq composite dropped 2.84 points to 3,098.81. 

The S&P 500 soared 4.6 percent last week, ending Friday at a five-year high. The government reported that hiring held up in December during the tense budget negotiations in Washington, with employers adding 155,000 jobs during the month. 

Investors celebrated to start the year as lawmakers passed a bill to avoid a combination of government spending cuts and tax increases that came to be known as the "fiscal cliff." The law passed late Tuesday night avoided the full force of the budget cuts, which could have dragged the economy into a recession. 

Investors are now shifting their focus to corporate profits. Aluminum producer Alcoa launches the reporting season for the fourth quarter of 2012 after the market closes on Tuesday. 

Analysts forecast that companies in the S&P 500 will report that quarterly earnings increased 3.3 percent compared with the same period the year before, according to S&P Capital IQ. But all the events that took place in the last three months of 2012 -- Superstorm Sandy, the presidential election, and worries about the narrowly avoided "fiscal cliff" -- could make for some surprises. 

JPMorgan Chase, Bank of America and others banks agreed to pay $8.5 billion to settle federal complaints that they foreclosed on people who should have been allowed to stay in their homes. Bank stocks ended the day little changed. 

In a separate agreement, Bank of America settled with the government-owned mortgage finance company Fannie Mae over mortgage investments that lost value during the real-estate crash. BofA's stock fell 2 cents to $12.09. 

In other trading, the yield on the 10-year Treasury note was 1.90 percent. The yield on the note hit an eight-month high of 1.97 percent in intraday trading Friday, according to prices from Tradeweb, an operator of fixed-income markets. 

Among other stocks making big moves: 

”” Archer Daniels Midland dropped 4 percent. Analysts at JP Morgan Chase said the ongoing drought in the Midwest will likely squeeze the crop-processing company's profit margins. The analysts also started coverage on ADM's stock with a price target of $28, below where it opened for trading Monday. ADM fell $1.21 to $28.01. 

”” Lowe's Cos. fell 82 cents to $34.76 after analysts at the money-management firm Canaccord cut their rating on the company to "sell" from "hold," saying that the home improvement company's efforts to improve stores and sales won't be successful. 

”” Walgreen Co. gained 85 cents to $38.03 after Jefferies analyst Scott A. Mushkin raised his rating on the drugstore chain to "buy" from "hold," saying the company's profits may get a boost from the flu season, Medicare drug plans and President Obama's health-care overhaul.


----------



## bigdog

Source: http://finance.yahoo.com 

U.S. stocks closed lower Tuesday as traders awaited the start of the corporate earnings season. 

The Dow Jones industrial average dropped 55.44 points, or 0.4 percent, to 13,328.85. The Standard & Poor's 500 index fell 4.74, or 0.3 percent, to 1,457.15. The Nasdaq composite index shed 7.01, or 0.2 percent, to 3,091.81. 

Alcoa reported its fourth-quarter financial results after the market closed, marking the unofficial kickoff to weeks of earnings announcements from U.S. companies. The aluminum maker said its revenue results exceeded the expectations of Wall Street analysts, while per-share earnings were roughly in line with expectations. Alcoa rose 20 cents, or 2.1 percent, to $9.30 in late trading. 

Alcoa is traditionally the first of the 30 companies in the Dow average to report earnings. 

Market-watchers expect the quarter's results could include many surprises because of events like Superstorm Sandy, the presidential election, and the narrowly avoided tax increases and spending cuts known collectively as the "fiscal cliff." 

"Earnings is going to be the big driver for the next couple of weeks, and we're just sitting around waiting for it to begin," said Kim Caughey Forrest, vice president and senior analyst at Fort Pitt Capital Group, an investment management firm. 

The European debt crisis continued to cast a pall over the market. Unemployment in the 17 countries that use the euro hit a new high, leading the European Union to warn about the risk of fraying social welfare systems in southern Europe. 

Trading has been cautious in the week since Congress and the White House struck a deal to maintain lower tax rates and postpone sweeping cuts in government spending. Enthusiasm about the compromise pushed the Dow up 300 points last Wednesday, its biggest gain since December 2011.

 *The NYSE DOW closed  	LOWER ▼	-55.44	points or ▼	-0.41%	Tuesday, 8 January 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,328.85	▼	-55.44	▼	-0.41%	
	Nasdaq____	3,091.81	▼	-7.00	▼	-0.23%	
	S&P_500____	1,457.15	▼	-4.74	▼	-0.32%	
	30_Yr_Bond____	3.071	▼	-0.03	▼	-0.94%	

NYSE Volume	 3,844,852,000 			 		 	
Nasdaq Volume	 1,748,052,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,053.63	▼	-10.95	▼	-0.18%	
	DAX_____	7,695.83	▼	-36.83	▼	-0.48%	
	CAC_40__	3,705.88	▲	1.24	▲	0.03%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,712.30	▼	-25.80	▼	-0.54%	
	Shanghai_Comp	2,276.07	▼	-9.29	▼	-0.41%	
	Taiwan_Weight	7,721.66	▼	-33.43	▼	-0.43%	
	Nikkei_225____	10,508.06	▼	-90.95	▼	-0.86%	
	Hang_Seng____	23,111.19	▲	53.93	▼	-0.94%	
	Strait_Times___	3,205.52	▼	-12.74	▼	-0.40%	
	NZX_50_Index__	4,090.37	▲	5.53	▲	0.14%	

http://finance.yahoo.com/news/us-st...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*US stocks fall ahead of earnings season kickoff

US stocks close lower ahead of unofficial start to earnings season; Alcoa beats on revenue*

By Daniel Wagner, AP Business Writer

U.S. stocks closed lower Tuesday as traders awaited the start of the corporate earnings season. 

The Dow Jones industrial average dropped 55.44 points, or 0.4 percent, to 13,328.85. The Standard & Poor's 500 index fell 4.74, or 0.3 percent, to 1,457.15. The Nasdaq composite index shed 7.01, or 0.2 percent, to 3,091.81. 

Alcoa reported its fourth-quarter financial results after the market closed, marking the unofficial kickoff to weeks of earnings announcements from U.S. companies. The aluminum maker said its revenue results exceeded the expectations of Wall Street analysts, while per-share earnings were roughly in line with expectations. Alcoa rose 20 cents, or 2.1 percent, to $9.30 in late trading. 

Alcoa is traditionally the first of the 30 companies in the Dow average to report earnings. 

Market-watchers expect the quarter's results could include many surprises because of events like Superstorm Sandy, the presidential election, and the narrowly avoided tax increases and spending cuts known collectively as the "fiscal cliff." 

"Earnings is going to be the big driver for the next couple of weeks, and we're just sitting around waiting for it to begin," said Kim Caughey Forrest, vice president and senior analyst at Fort Pitt Capital Group, an investment management firm. 

The European debt crisis continued to cast a pall over the market. Unemployment in the 17 countries that use the euro hit a new high, leading the European Union to warn about the risk of fraying social welfare systems in southern Europe. 

Trading has been cautious in the week since Congress and the White House struck a deal to maintain lower tax rates and postpone sweeping cuts in government spending. Enthusiasm about the compromise pushed the Dow up 300 points last Wednesday, its biggest gain since December 2011. 

In corporate news: 

”” Agriculture products giant Monsanto rose $2.56, or 2.7 percent, to $98.50 after saying its profit nearly tripled in the first fiscal quarter, helped by strong seed sales in Latin America. Monsanto raised its earnings guidance for the year. 

”” Video game seller GameStop lost $1.56, or 6.3 percent, to $23.19 after reporting weak holiday-season sales and cutting its revenue guidance. 

”” Yum Brands, operator of the KFC and Taco Bell fast food chains, plunged after saying a key sales metric in China fell more than expected in the fourth quarter. The decline was related to problems at two of its small chicken suppliers; nearly half of the company's revenue came from China in 2011. Yum lost $2.85, or 4.2 percent, to $65.04. 

”” In Korea, electronics giant Samsung said it expects record earnings for the fourth quarter as shoppers continue to embrace its smartphones and tablets. But there were signs its momentum is slowing, and the company's stock closed down 1.3 percent in Seoul.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks rose on Wall Street Wednesday after U.S. corporate earnings reports got off to a good start. 

The Dow Jones industrial average climbed 61.66 points to 13,390.51, its first gain of the week. The Standard & Poor's 500 index gained 3.87 points to 1,461.02, and the Nasdaq composite rose 14 to 3,105.81. 

Having rallied after a last-minute resolution stopped the U.S. from going over the "fiscal cliff," stocks are facing their first big challenge of the year as companies start to report earnings for the fourth quarter of 2012. Throughout last year, analysts cut their outlook for earnings growth in the period and now expect them to rise by 3.21 percent, according to data from S&P Capital IQ. 

"Maybe earnings expectations were a little too low," said Ryan Detrick, a strategist at Schaeffer's Investment Research. "You don't need to have great earnings, you just need to beat those expectations" for stocks to rally, Detrick said. 

Early indications were decent. Aluminum maker Alcoa reported late Tuesday that it swung to a profit for the fourth quarter, with earnings that met Wall Street's expectations. The company brought in more revenue than analysts had expected, and the company also predicted rising demand for aluminum this year as the aerospace industry gains strength. Alcoa is usually the first Dow component to report earnings every quarter. 

Despite the better revenue number, Alcoa's stock performance Wednesday was lackluster. It traded higher for part of the day then ended down 2 cents at $9.08. 

Other companies fared better after reporting earnings. Helen of Troy, which sells personal care products under brands including Dr. Scholl's and Vidal Sassoon, rose 2.7 percent, up 90 cents to $34.43 after reporting a 15 percent increase in quarterly net income.

 *The NYSE DOW closed  	HIGHER ▲	61.66	points or ▲	0.46%	Wednesday, 9 January 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,390.51	▲	61.66	▲	0.46%	
	Nasdaq____	3,105.81	▲	14.00	▲	0.45%	
	S&P_500____	1,461.02	▲	3.87	▲	0.27%	
	30_Yr_Bond____	3.053	▼	-0.02	▼	-0.59%	

NYSE Volume	 3,857,857,250 			 		 	
Nasdaq Volume	 1,731,668,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,098.65	▲	45.02	▲	0.74%	
	DAX_____	7,720.47	▲	24.64	▲	0.32%	
	CAC_40__	3,717.45	▲	11.57	▲	0.31%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,730.10	▲	17.80	▲	0.38%	
	Shanghai_Comp	2,275.34	▼	-0.73	▼	-0.03%	
	Taiwan_Weight	7,738.64	▲	16.98	▲	0.22%	
	Nikkei_225____	10,578.57	▲	70.51	▲	0.67%	
	Hang_Seng____	23,218.47	▲	53.93	▲	0.46%	
	Strait_Times___	3,222.19	▲	16.67	▲	0.52%	
	NZX_50_Index__	4,103.54	▲	13.17	▲	0.32%	

http://finance.yahoo.com/news/wall-...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Wall Street gains as earnings flow in; Boeing up

Stocks move higher on Wall Street as earnings season gets off to an encouraging start*

By STEVE ROTHWELL AP Business Writer

NEW YORK (AP) - Stocks rose on Wall Street Wednesday after U.S. corporate earnings reports got off to a good start. 

The Dow Jones industrial average climbed 61.66 points to 13,390.51, its first gain of the week. The Standard & Poor's 500 index gained 3.87 points to 1,461.02, and the Nasdaq composite rose 14 to 3,105.81. 

Having rallied after a last-minute resolution stopped the U.S. from going over the "fiscal cliff," stocks are facing their first big challenge of the year as companies start to report earnings for the fourth quarter of 2012. Throughout last year, analysts cut their outlook for earnings growth in the period and now expect them to rise by 3.21 percent, according to data from S&P Capital IQ. 

"Maybe earnings expectations were a little too low," said Ryan Detrick, a strategist at Schaeffer's Investment Research. "You don't need to have great earnings, you just need to beat those expectations" for stocks to rally, Detrick said. 

Early indications were decent. Aluminum maker Alcoa reported late Tuesday that it swung to a profit for the fourth quarter, with earnings that met Wall Street's expectations. The company brought in more revenue than analysts had expected, and the company also predicted rising demand for aluminum this year as the aerospace industry gains strength. Alcoa is usually the first Dow component to report earnings every quarter. 

Despite the better revenue number, Alcoa's stock performance Wednesday was lackluster. It traded higher for part of the day then ended down 2 cents at $9.08. 

Other companies fared better after reporting earnings. Helen of Troy, which sells personal care products under brands including Dr. Scholl's and Vidal Sassoon, rose 2.7 percent, up 90 cents to $34.43 after reporting a 15 percent increase in quarterly net income. 

Boeing was the biggest gainer of the 30 stocks in the Dow. It jumped 3.5 percent, up $2.63 to $76.76, following two days of sharp declines triggered by new problems for its 787 Dreamliner. Boeing said it has "extreme confidence" in the plane even as federal investigators try to determine the cause of a fire Monday aboard an empty Japan Airlines plane in Boston and a fuel leak at another JAL 787 on Tuesday. 

The yield on the 10-year Treasury note edged down to 1.86 percent from 1.87 percent. 

Among other stocks making big moves: 

”” Wireless network operator Clearwire jumped 7.2 percent, or 21 cents, to $3.13, after Dish network made an unsolicited offer to buy the company, which has already agreed to sell itself to Sprint. Dish rose 88 cents to $36.85, and Sprint fell 9 cents to $5.88. 

”” Online education company Apollo Group plunged 7.8 percent after reporting a sharp decline in fall-term student sign-ups at the University of Phoenix. The stock fell $1.63 to $19.32. 

”” Seagate Technology, a maker of hard-disk drives, jumped 6.6 percent, up $2.09 to $33.48, after predicting revenue for its fiscal second quarter that topped Wall Street expectations late Tuesday. 

”” Bank of America fell 4.6 percent, down 55 cents to $11.43, after Credit Suisse analysts lowered their outlook on the bank to "neutral" for "outperform," saying the current stock price overestimates the improvement in cost reduction that the bank can achieve this year.


----------



## bigdog

Source: http://finance.yahoo.com 

The Standard and Poor's 500 closed at another five-year high Thursday after the stock market got a boost from reports suggesting the outlook for economic growth may be improving. 

The S&P 500 rose 11.10 points to 1,472.12, its highest close since December 2007, when the U.S. economy was entering the Great Recession. It also closed at a five-year high on Friday and is now 93 points off its record close of 1,565.15, logged in October 2007. 

The Dow Jones industrial average closed up 80.71 points at 13,471.22. The Nasdaq composite rose 15.95 points to 3,121.76. 

European Central Bank President Mario Draghi said the struggling euro zone should start growing again later this year, but he warned that the region has yet to reach a turning point in its struggle with recession and handling its government debt load. The comments bolstered expectations that the worst of the region's crisis may be behind it. 

Investors were also cheered by a report that showed China may gradually be emerging from its worst economic downturn since the 2008 global crisis. Export growth for the world's second-largest economy rebounded strongly in December. 

Stocks finished the day higher despite a U.S. government report that weekly applications for unemployment benefits ticked up last week. The Labor Department said applications rose 4,000 to 371,000, the most in five weeks. The previous week's total was revised lower. 

Ford was among the gainers, rising 36 cents, or 2.7 percent, to $13.83 after the company doubled its quarterly dividend to 10 cents, just nine months after paying its first dividend in more than five years. 

U.S. companies are sitting on record cash piles, having rebuilt their balance sheets following the financial crisis that started five years ago. Analysts at Deutsche Bank predict that corporations will stop adding to those cash piles this year and instead start returning more cash to shareholders, helping push the S&P 500 up to 1,575 by the end of the year. That would be a 10 percent increase from where it ended 2012. 

Traders are also waiting for more indications on the health of U.S. companies from earnings reports. 

A good start this week to the earning reports for the fourth quarter of last year helped the market Wednesday after aluminum company Alcoa predicted rising demand for aluminum this year. 

 *The NYSE DOW closed  	HIGHER ▲	80.71	points or ▲	0.60%	Thursday, 10 January 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,471.22	▲	80.71	▲	0.60%	
	Nasdaq____	3,121.76	▲	15.95	▲	0.51%	
	S&P_500____	1,472.12	▲	11.10	▲	0.76%	
	30_Yr_Bond____	3.079	▲	0.03	▲	0.85%	

NYSE Volume	 4,351,679,000 			 		 	
Nasdaq Volume	 1,760,610,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,101.51	▲	2.86	▲	0.05%	
	DAX_____	7,708.47	▼	-12.00	▼	-0.16%	
	CAC_40__	3,703.12	▼	-14.33	▼	-0.39%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,745.20	▲	15.10	▲	0.32%	
	Shanghai_Comp	2,283.66	▲	8.32	▲	0.37%	
	Taiwan_Weight	7,811.64	▲	73.00	▲	0.94%	
	Nikkei_225____	10,652.64	▲	74.07	▲	0.70%	
	Hang_Seng____	23,354.31	▲	53.93	▲	0.59%	
	Strait_Times___	3,226.25	▲	5.84	▲	0.18%	
	NZX_50_Index__	4,119.08	▲	15.54	▲	0.38%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks gain, pushing S&P 500 to five-year high

Stocks advance with improving growth picture in Europe and China; S&P 500 at five-year high*

By Steve Rothwell, AP Business Writer

The Standard and Poor's 500 closed at another five-year high Thursday after the stock market got a boost from reports suggesting the outlook for economic growth may be improving. 

The S&P 500 rose 11.10 points to 1,472.12, its highest close since December 2007, when the U.S. economy was entering the Great Recession. It also closed at a five-year high on Friday and is now 93 points off its record close of 1,565.15, logged in October 2007. 

The Dow Jones industrial average closed up 80.71 points at 13,471.22. The Nasdaq composite rose 15.95 points to 3,121.76. 

European Central Bank President Mario Draghi said the struggling euro zone should start growing again later this year, but he warned that the region has yet to reach a turning point in its struggle with recession and handling its government debt load. The comments bolstered expectations that the worst of the region's crisis may be behind it. 

Investors were also cheered by a report that showed China may gradually be emerging from its worst economic downturn since the 2008 global crisis. Export growth for the world's second-largest economy rebounded strongly in December. 

Stocks finished the day higher despite a U.S. government report that weekly applications for unemployment benefits ticked up last week. The Labor Department said applications rose 4,000 to 371,000, the most in five weeks. The previous week's total was revised lower. 

Ford was among the gainers, rising 36 cents, or 2.7 percent, to $13.83 after the company doubled its quarterly dividend to 10 cents, just nine months after paying its first dividend in more than five years. 

U.S. companies are sitting on record cash piles, having rebuilt their balance sheets following the financial crisis that started five years ago. Analysts at Deutsche Bank predict that corporations will stop adding to those cash piles this year and instead start returning more cash to shareholders, helping push the S&P 500 up to 1,575 by the end of the year. That would be a 10 percent increase from where it ended 2012. 

Traders are also waiting for more indications on the health of U.S. companies from earnings reports. 

A good start this week to the earning reports for the fourth quarter of last year helped the market Wednesday after aluminum company Alcoa predicted rising demand for aluminum this year. 

Investors will be paying particular attention to the outlook for company sales during this reporting period, said Quincy Krosby, a market strategist at Prudential Financial. Revenue growth slowed to 0.4 percent in the third quarter of 2012, compared to growth of 11.4 percent in the same period in 2011, according to S&P Capital IQ data. 

"The third-quarter earnings season top-line revenue growth pulled back," said Krosby. "That's of concern because, when all is said and done, markets are supposed to be a reflection of company earnings." 

Supervalu Inc. rose 43 cents, or 14.1 percent, to $3.47 after announcing that it had reached a $3.3 billion deal to sell five of its biggest grocery chains ”” Albertsons, Acme, Jewel-Osco, Shaw's and Star Market ”” to an investor group led by the private equity firm Cerberus Capital Management. 

The S&P 500 is already up 3.2 percent so far this year after lawmakers reached a last-minute compromise to stop the U.S. from going over the "fiscal cliff," a reference to sharp tax increases and across-the-board government spending cuts that could have pushed the economy back into recession. 

Yet while the budget deal avoided many of the tax increases, it only put off the so-called sequestration, or spending cuts, that were part of the fiscal cliff threat. 

Ben Schwarz, chief market strategist at Light Speed Financial, said stocks are unlikely to make substantial gains until lawmakers deal comprehensively with the government spending issue. 

"Everybody gave each other high fives, running up and down in Washington because they did the fiscal cliff, but the big deal is about to come and smack them upside their head, all the real issues that they didn't want to deal with," Schwarz said. "Most people are now thinking, better to be safe than sorry." 

The yield on the 10-year Treasury note rose 4 basis points to 1.90 percent. The yield on the note, which rises as bonds fall, has jumped 30 basis points in the past month. 

Other stocks making big moves: 

”” Urban Outfitters rose $1.89, or 4.6 percent, to $42.64 after the company said that it had record sales for the two months ending in December. 

”” Jewelry retailer Tiffany & Co. sank $2.86, or 4.5 percent, to $60.40 after reporting that its sales increased at a slower pace than previously expected during the critical holiday shopping season. The company said its full-year earnings would come in at the low end of its prior forecast. 

”” Herbalife, a nutritional supplements maker, fell 71 cents, or 1.8 percent, to $39.24 after the company made a presentation to investors to counter claims made by hedge fund manager William Ackman that the business is a pyramid scheme.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks gained for a second straight week as company earnings reports started to come in, keeping the Standard and Poor's 500 index within a fraction of its highest level in five years. 

The S&P 500 was little changed Friday, and gained 5 points in the week to close at 1,472.05. The index is a fraction below its close of 1,472.12 Thursday, its highest level since December 2007. 

The Dow Jones industrial average rose 17.21 points to 13,488.43. The Nasdaq composite index rose 3.88 to 3,125.63. For the week, the Dow rose 53 and the Nasdaq rose 24. 

Companies have started to report earnings for the fourth quarter of 2012, but no clear pattern has emerged as yet. 

Aluminum company Alcoa gave stocks a lift after it reported earnings late Tuesday that matched analysts' expectations and said that demand was increasing. Investors were unimpressed by Wells Fargo's record profits Friday, choosing instead to focus on the sustainability of those earnings. 

"You've been hearing comments that earnings season is going to show a continued contraction in the rate of growth," said Robert Pavlik of Banyan Partners. "People are conflicted, they are worried, but at the same time they don't want to be missing out on the action in the overall market." 

Currently, analysts expect fourth quarter earnings for S&P 500 companies to grow at a rate of 3.3 percent, according to the latest data from S&P Capital IQ. That's a better growth rate than the previous quarter, but it's considerably weaker that the 8.4 percent growth rate recorded in the same period last year. 

Wells Fargo, the first major bank to report earnings, dropped even after the bank reported a 25 percent increase in fourth-quarter earnings. The bank's stock fell 30 cents, or 0.8 percent, to $35.10. 

 *The NYSE DOW closed  	HIGHER ▲	17.21	points or ▲	0.13%	Friday, 11 January 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,488.43	▲	17.21	▲	0.13%	
	Nasdaq____	3,125.63	▲	3.87	▲	0.12%	
	S&P_500____	1,472.05	▼	-0.07	▲	0.00%	
	30_Yr_Bond____	3.054	▼	-0.03	▼	-0.81%	

NYSE Volume	 3,550,251,000 			 		 	
Nasdaq Volume	 1,772,860,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,121.58	▲	20.07	▲	0.33%	
	DAX_____	7,715.53	▲	7.06	▲	0.09%	
	CAC_40__	3,706.02	▲	2.90	▲	0.08%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,733.80	▼	-11.40	▼	-0.24%	
	Shanghai_Comp	2,243.00	▼	-40.66	▼	-1.78%	
	Taiwan_Weight	7,819.15	▲	7.51	▲	0.10%	
	Nikkei_225____	10,801.57	▲	148.93	▲	1.40%	
	Hang_Seng____	23,264.07	▲	53.93	▼	-0.39%	
	Strait_Times___	3,216.50	▼	-9.75	▼	-0.30%	
	NZX_50_Index__	4,131.75	▲	12.67	▲	0.31%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks gain for second week, keeping S&P near high

Stocks gain for a second straight week, keeping the Standard and Poor's 500 near a 5-year high*

By Steve Rothwell, AP Business Writer

Stocks gained for a second straight week as company earnings reports started to come in, keeping the Standard and Poor's 500 index within a fraction of its highest level in five years. 

The S&P 500 was little changed Friday, and gained 5 points in the week to close at 1,472.05. The index is a fraction below its close of 1,472.12 Thursday, its highest level since December 2007. 

The Dow Jones industrial average rose 17.21 points to 13,488.43. The Nasdaq composite index rose 3.88 to 3,125.63. For the week, the Dow rose 53 and the Nasdaq rose 24. 

Companies have started to report earnings for the fourth quarter of 2012, but no clear pattern has emerged as yet. 

Aluminum company Alcoa gave stocks a lift after it reported earnings late Tuesday that matched analysts' expectations and said that demand was increasing. Investors were unimpressed by Wells Fargo's record profits Friday, choosing instead to focus on the sustainability of those earnings. 

"You've been hearing comments that earnings season is going to show a continued contraction in the rate of growth," said Robert Pavlik of Banyan Partners. "People are conflicted, they are worried, but at the same time they don't want to be missing out on the action in the overall market." 

Currently, analysts expect fourth quarter earnings for S&P 500 companies to grow at a rate of 3.3 percent, according to the latest data from S&P Capital IQ. That's a better growth rate than the previous quarter, but it's considerably weaker that the 8.4 percent growth rate recorded in the same period last year. 

Wells Fargo, the first major bank to report earnings, dropped even after the bank reported a 25 percent increase in fourth-quarter earnings. The bank's stock fell 30 cents, or 0.8 percent, to $35.10. 

JPMorgan Chase, Goldman Sachs, U.S. Bancorp, Citigroup and Bank of America are among banks and financial companies reporting earnings next week. Financial stocks were the best performing industry group in the S&P 500 last year, gaining 26 percent. Other companies reporting earnings next week include eBay and Intel. 

Boeing fell $1.93, or 2.5 percent, to $75.16 after the U.S. Federal Aviation Administration said it is launching a comprehensive review of the critical systems of Boeing's 787, the aircraft maker's newest and most technologically advanced plane, after a fire and a fuel leak earlier this week. 

The stock market got a boost Thursday from reports suggesting the outlook for economic growth may be improving both in Europe and China. 

Stocks are up on the year after lawmakers came up with a last-minute deal to prevent the U.S. from going over the "fiscal cliff." That averted the threat of a series of tax hikes and spending cuts Jan. 1 that economists say would almost certainly have pushed the U.S. economy into recession. 

Avoiding the "cliff" will likely have boosted consumer confidence, said Chris Kichurchak, vice president at Strategic Wealth Partners. That improving sentiment, combined with a strengthening housing market, should prove favorable to so-called cyclical companies that move in line with the economy. 

"There are a lot of people who were holding out on spending," before a budget deal was struck, said Kichurchak. 

Investors started the year by jumping into stocks, according to Bank of America Merrill Lynch research. Just over $22 billion was invested in equities in the first full week of this year, the second-highest weekly in-flow on record after the $22.8 billion that was invested in September 2007. 

The yield on the 10-year Treasury note, which moves opposite to the security's price, fell 4 basis points to 1.86 percent. 

Other stocks making big moves; 

”” American Express rose 45 cents, or 0.7 percent, to $61.24 after the company said that spending by cardholders jumped 8 percent in the fourth quarter, even after Superstorm Sandy crimped some buying. 

”” Best Buy jumped $2, or 16.4 percent, to $14.21 after the struggling consumer electronics chain reported holiday sales. The company's U.S. performance was flat and, while this was a hair below the 0.3 percent increase that Best Buy reported in the prior-year period, it was an improvement over the past several quarters. 

”” Ford rose 17 cents, or 1.2 percent, to $14. The company said demand for new vehicles is accelerating in the U.S. Ford plans to hire 2,200 engineers, computer programmers and other white-collar workers this year. The automaker said Thursday it was raising its dividend. 

”” Corning fell 19 cents, or 1.5 percent, to $12.45 after Goldman Sachs removed cut its rating on the specialty glass manufacturer to "neutral" from "buy," saying that it expected first quarter sales to decline more than previously expected.

1668


----------



## bigdog

Source: http://finance.yahoo.com 

Apple held down the Standard & Poor's 500, pushing it further below the five-year high it reached last week, after the technology giant's stock sank following a report that demand for the iPhone 5 may be weaker than expected. The Dow Jones industrial average edged higher. 

The Dow rose 18.89 points to 13,507.32 Monday, having fallen as much as 29 points at the start of the day. The S&P 500 fell 1.37 point to 1,470.68. The Nasdaq composite index fell 8.13 points to 3,117.50 

The S&P 500 closed at a five-year high of 1,472 on Thursday, following a solid start to the fourth-quarter earnings reporting period and amid optimism that the outlook for global growth is brightening. 

Apple's stock, which isn't included in the Dow but accounts for 10.3 percent of the Nasdaq index and 3.7 percent of the S&P, slid $18.55 to $501.75 after The Wall Street Journal reported that the company has reduced its orders for iPhone 5 components due to weak demand. Apple slipped below $500 a share for the first time in nearly a year in early trading. The stock has slumped 28 percent since closing at a record $702.10 in September. 

Computer maker Dell surged $1.41, or 13 percent, to $12.29 following a report that it's in talks with buyout firms. The company is considering going private with at least two firms, Bloomberg news reported, citing unidentified sources. 

Earnings reporting will pick up this week with many big U.S. banks, including JPMorgan Chase, Citigroup and Bank of America releasing results. 

"The market is definitely in wait and see mode," said Brian Gendreau, a market strategist at Cetera Financial Group. 

Investors will be scrutinizing revenues to assess whether the drawn-out debate over the "fiscal cliff" had an impact on consumer spending. A series of tax hikes and spending cuts due to come into effect Jan. 1 were only averted by a last-minute deal. 

Earnings growth has likely peaked for now because companies have been relying on cost cutting, rather than growth, to boost profitability, says Ron Sloan, a senior portfolio manager at Invesco. Analysts currently forecast that fourth-quarter 2012 earnings for S&P 500 companies will increase 3.3 percent, according to S&P Capital IQ. That compares with 8.4 percent from the same period a year earlier. 

 *The NYSE DOW closed  	HIGHER ▲	18.89	points or ▲	0.14%	Monday, 14 January 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,507.32	▲	18.89	▲	0.14%	
	Nasdaq____	3,117.50	▼	-8.13	▼	-0.26%	
	S&P_500____	1,470.68	▼	-1.37	▼	-0.09%	
	30_Yr_Bond____	3.044	▼	-0.01	▼	-0.33%	

NYSE Volume	 2,918,099,250 			 		 	
Nasdaq Volume	 1,877,292,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,107.86	▼	-13.72	▼	-0.22%	
	DAX_____	7,729.52	▲	13.99	▲	0.18%	
	CAC_40__	3,708.25	▲	2.23	▲	0.06%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,745.70	▲	11.90	▲	0.25%	
	Shanghai_Comp	2,311.74	▲	68.74	▲	3.06%	
	Taiwan_Weight	7,823.97	▲	4.82	▲	0.06%	
	Nikkei_225____	10,801.57	▲	148.93	▲	1.40%	
	Hang_Seng____	23,413.26	▲	53.93	▲	0.64%	
	Strait_Times___	3,206.59	▼	-9.91	▼	-0.31%	
	NZX_50_Index__	4,153.92	▲	22.16	▲	0.54%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks little changed on Wall Street; Apple slides

Stocks little changed; Apple slides on iPhone worries, Dell surges on private equity reports*

By Steve Rothwell, AP Business Writer

Apple held down the Standard & Poor's 500, pushing it further below the five-year high it reached last week, after the technology giant's stock sank following a report that demand for the iPhone 5 may be weaker than expected. The Dow Jones industrial average edged higher. 

The Dow rose 18.89 points to 13,507.32 Monday, having fallen as much as 29 points at the start of the day. The S&P 500 fell 1.37 point to 1,470.68. The Nasdaq composite index fell 8.13 points to 3,117.50 

The S&P 500 closed at a five-year high of 1,472 on Thursday, following a solid start to the fourth-quarter earnings reporting period and amid optimism that the outlook for global growth is brightening. 

Apple's stock, which isn't included in the Dow but accounts for 10.3 percent of the Nasdaq index and 3.7 percent of the S&P, slid $18.55 to $501.75 after The Wall Street Journal reported that the company has reduced its orders for iPhone 5 components due to weak demand. Apple slipped below $500 a share for the first time in nearly a year in early trading. The stock has slumped 28 percent since closing at a record $702.10 in September. 

Computer maker Dell surged $1.41, or 13 percent, to $12.29 following a report that it's in talks with buyout firms. The company is considering going private with at least two firms, Bloomberg news reported, citing unidentified sources. 

Earnings reporting will pick up this week with many big U.S. banks, including JPMorgan Chase, Citigroup and Bank of America releasing results. 

"The market is definitely in wait and see mode," said Brian Gendreau, a market strategist at Cetera Financial Group. 

Investors will be scrutinizing revenues to assess whether the drawn-out debate over the "fiscal cliff" had an impact on consumer spending. A series of tax hikes and spending cuts due to come into effect Jan. 1 were only averted by a last-minute deal. 

Earnings growth has likely peaked for now because companies have been relying on cost cutting, rather than growth, to boost profitability, says Ron Sloan, a senior portfolio manager at Invesco. Analysts currently forecast that fourth-quarter 2012 earnings for S&P 500 companies will increase 3.3 percent, according to S&P Capital IQ. That compares with 8.4 percent from the same period a year earlier. 

"We have to make this transition....from depending on margins and cost-cutting to an old-fashioned, animal spirits, industrial recovery where companies are willing to spend money to hire people," said Invesco's Sloan. 

Federal Reserve Bank of Chicago President Charles Evans, an alternate member of the Fed's Open Market Committee, said Monday in a speech in Hong Kong that central banks should help create conditions to foster "robust demand growth" as the U.S. and other advanced economies try to reduce debt. 

President Barack Obama is currently urging Congress to increase the nation's borrowing limit so it can continue paying its bills. The government has hit its $16.4 trillion debt limit and is expected to run out of ways to meet all of its obligations around March 1, perhaps earlier. Republicans wants spending cuts in exchange for raising the debt ceiling. 

Failure to lift the borrowing limit, or debt ceiling, would be "a self-inflicted wound" to the economy and cause turmoil on financial markets, Obama told a White House news conference on Monday. 

The yield on the 10-year Treasury note, which moves inversely to its price, was little changed at 1.86 percent. 

Among other stocks making big moves: 

”” H.H. Gregg, a home appliances retailer, fell 45 cents, or 5.7 percent, to $7.44 after the company lowered its earnings forecast for fiscal 2013, citing declining demand for flat screen televisions. 

”” Harry Winston Diamond Corp. gained 62 cents to $15.08 after the company agreed to sell its namesake retail jewelry and watch division to Switzerland's Swatch Group in a deal valued at $1 billion. 

”” Sprint Nextel fell 23 cents, 3.9 percent, to $5.69 after JPMorgan cuts its rating on the stock to "neutral" to "overweight." The bank's analysts expect the company to spend big on capital investment this year and say that the outlook for subscriber growth in uncertain. 

”” United Parcel Service gained $1.32, or 1.7 percent, to $79.24 after the company scrapped plans to grow in Europe through the acquisition of Dutch delivery company TNT Express because of opposition from European regulators. The $6.9 billion deal would have been the largest acquisition in UPS's history.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks edged higher on Wall Street after a rally in retail stocks offset concerns about flaring tensions in Washington over increasing the country's borrowing limit. 

The Dow Jones industrial average ended the day up 27.57 points at 13,534.89. The Dow moved higher in the late afternoon after being down as much as 62 points in the early going. 

The Standard and Poor's 500 rose 1.66 points to 1,472.34, a five-year high. The Nasdaq composite index, dragged down by a fall in Apple, fell 6.72 points to 3,110.78. 

Retail stocks moved higher throughout the day, boosted by a report that showed retail sales increased in December, helping the major indexes reverse early losses. 

Consumers bought more autos, furniture and clothing, despite worries about potential tax increases, the Commerce Department said Tuesday. Sales rose 0.5 percent in December from November, slightly better than November's 0.4 percent increase and the best showing since September. 

J.C. Penney rose 62 cents, or 3.4 percent, to $18.71. Dollar General gained $1.62, or 3.8 percent, to $44.64. Ford advanced 31 cents, or 2.2 percent, to $14.30. 

Treasury Secretary Timothy Geithner told congressional leaders in a letter late Monday that the U.S. government will reach its borrowing limit as soon as mid-February, earlier than expected. Federal Reserve Chairman Ben Bernanke also commented on the issue Monday, saying it was one of the "critical fiscal watersheds" for the government in coming weeks. 

President Barack Obama has criticized congressional Republicans for linking talks over raising the debt ceiling to ongoing budget negotiations. Obama said the consequences of the U.S. government defaulting on its debt would be disastrous and shouldn't be used as a bargaining chip to extract concessions on spending cuts. 

"We are very concerned how the market is going to respond to all the news events that will be coming out of Washington over the next few months," said Eric Wiegand, a senior portfolio manager at U.S. Bank Wealth Management. "It really comes down to the uncertainty and the risk of a further downgrade of our debt." 

Markets were roiled in the summer of 2011 as lawmakers haggled over an increase to the debt limit. The dispute cost the U.S. its AAA ranking from the credit-rating firm Standard and Poor's. 

The U.S. fiscal crisis is still the biggest single individual risk facing investors, with 37 percent of investors naming it as the biggest worry, according to a survey of fund managers published by Bank of America Merrill Lynch Tuesday. The European debt crisis was cited as the biggest concern by 23 percent of those polled and a "hard landing" for the Chinese economy was third on the list with 12 percent. 

 *The NYSE DOW closed  	HIGHER ▲	27.57	points or ▲	0.20%	Tuesday, 15 January 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,534.89	▲	27.57	▲	0.20%	
	Nasdaq____	3,110.78	▼	-6.72	▼	-0.22%	
	S&P_500____	1,472.34	▲	1.66	▲	0.11%	
	30_Yr_Bond____	3.017	▼	-0.03	▼	-0.89%	

NYSE Volume	 3,331,416,250 			 		 	
Nasdaq Volume	 1,852,201,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,117.31	▲	9.45	▲	0.15%	
	DAX_____	7,675.91	▼	-53.61	▼	-0.69%	
	CAC_40__	3,697.35	▼	-10.90	▼	-0.29%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,743.00	▼	-2.70	▼	-0.06%	
	Shanghai_Comp	2,325.68	▲	13.94	▲	0.60%	
	Taiwan_Weight	7,765.02	▼	-58.95	▼	-0.75%	
	Nikkei_225____	10,879.08	▲	77.51	▲	0.72%	
	Hang_Seng____	23,381.51	▲	53.93	▼	-0.14%	
	Strait_Times___	3,196.07	▼	-10.52	▼	-0.33%	
	NZX_50_Index__	4,170.96	▲	17.04	▲	0.41%	

http://finance.yahoo.com/news/stocks-edge-higher-retailers-rally-212618290.html

Stocks edge higher as retailers rally
Indexes edge higher on Wall Street as retail stocks rally, offsetting US fiscal worries
By Steve Rothwell, AP Business Writer

Stocks edged higher on Wall Street after a rally in retail stocks offset concerns about flaring tensions in Washington over increasing the country's borrowing limit. 

The Dow Jones industrial average ended the day up 27.57 points at 13,534.89. The Dow moved higher in the late afternoon after being down as much as 62 points in the early going. 

The Standard and Poor's 500 rose 1.66 points to 1,472.34, a five-year high. The Nasdaq composite index, dragged down by a fall in Apple, fell 6.72 points to 3,110.78. 

Retail stocks moved higher throughout the day, boosted by a report that showed retail sales increased in December, helping the major indexes reverse early losses. 

Consumers bought more autos, furniture and clothing, despite worries about potential tax increases, the Commerce Department said Tuesday. Sales rose 0.5 percent in December from November, slightly better than November's 0.4 percent increase and the best showing since September. 

J.C. Penney rose 62 cents, or 3.4 percent, to $18.71. Dollar General gained $1.62, or 3.8 percent, to $44.64. Ford advanced 31 cents, or 2.2 percent, to $14.30. 

Treasury Secretary Timothy Geithner told congressional leaders in a letter late Monday that the U.S. government will reach its borrowing limit as soon as mid-February, earlier than expected. Federal Reserve Chairman Ben Bernanke also commented on the issue Monday, saying it was one of the "critical fiscal watersheds" for the government in coming weeks. 

President Barack Obama has criticized congressional Republicans for linking talks over raising the debt ceiling to ongoing budget negotiations. Obama said the consequences of the U.S. government defaulting on its debt would be disastrous and shouldn't be used as a bargaining chip to extract concessions on spending cuts. 

"We are very concerned how the market is going to respond to all the news events that will be coming out of Washington over the next few months," said Eric Wiegand, a senior portfolio manager at U.S. Bank Wealth Management. "It really comes down to the uncertainty and the risk of a further downgrade of our debt." 

Markets were roiled in the summer of 2011 as lawmakers haggled over an increase to the debt limit. The dispute cost the U.S. its AAA ranking from the credit-rating firm Standard and Poor's. 

The U.S. fiscal crisis is still the biggest single individual risk facing investors, with 37 percent of investors naming it as the biggest worry, according to a survey of fund managers published by Bank of America Merrill Lynch Tuesday. The European debt crisis was cited as the biggest concern by 23 percent of those polled and a "hard landing" for the Chinese economy was third on the list with 12 percent. 

Apple fell $15.83, or 3.2 percent, to $485.92, closing below $500 for the first time in almost a year. Apple slumped 3.6 percent Monday on concern that demand for its iPhone 5 is slowing. Nomura analysts today lowered their target price for the stock to $530 from $660 and cut their estimates for iPhone sales this year. 

Both the S&P 500 and the Dow are up on the year, having surged in the first week of January after lawmakers reached a last-minute budget deal to stop the economy going over the "cliff." The agreement prevented a series of tax increases and spending cuts that could have pushed the U.S. economy back into recession, according to economists. 

Optimism about the outlook for global growth has also boosted stocks. 

The S&P 500 is up 3.2 percent this year. The 30-member Dow is up 3.3 percent since the start of 2013. 

The yield on the 10-year Treasury note, which moves inversely to its price, was little changed at 1.84 percent. 

Among other stocks making big moves; 

”” Dell gained 88 cents, or 7.2 percent, to $13.17, rising for a second day on a report that the computer maker is in talks with private equity firms about a buyout. 

”” Facebook fell 85 cents, or 2.7 percent, to $30.10, paring its gains for the year to 13 percent, after the company unveiled a new feature Tuesday that lets users search their social connections for information about people, interests, photos and places. 

”” Lululemon Athletica, a maker of yoga apparel, dropped $2.83, or 3.9 percent, to $69.47 after its revenue forecast fell short of analysts' estimates. 

”” Given Imaging Ltd. fell $2.10, or 11.5 percent, to $16.10 after the medical equipment company said it was no longer considering a sale. Also one of its largest shareholders plans to sell its stake.


----------



## bigdog

Source: http://finance.yahoo.com 

More problems for Boeing's 787 sent the aircraft maker's stock down sharply Wednesday, dragging the Dow Jones industrial average lower. 

Japan's two biggest airlines grounded all their Boeing 787s for safety checks Wednesday after one was forced to make an emergency landing. The plane, known as the Dreamliner, has been plagued by a series of problems this year, including a battery fire and fuel leaks. Boeing's stock sank $2.60 to $74.34, a loss of 3 percent. 

The Dow lost 23.66 points to close at 13,511.23. Without Boeing's drop, the Dow would have ended the day nearly flat. 

The Standard & Poor's 500 index inched up 0.29 to 1,472.63. A gain in Apple helped pull the Nasdaq composite up 6.77 points to 3,117.54. 

Apple rose $20.17 to $506.09, ending a three-day slide. The world's largest publicly traded company closed below $500 on Tuesday for the first time in nearly a year. Concerns that the popularity of its iPhone is waning have pushed Apple's stock down 5 percent this month. 

Goldman Sachs and JPMorgan Chase, the country's largest bank, rose after both posted quarterly results that trounced analysts' estimates. 

Harry Clark, chairman of Clark Capital Management Group in Philadelphia, described JPMorgan's numbers as staggering. The bank's quarterly earnings jumped 55 percent and total revenue for the year hit $100 billion. 

"Their earnings are just ridiculously good," Clark said. "It shows you that these giants can make money in any type of environment." 

 *The NYSE DOW closed  	LOWER ▼	-23.66	points or ▼	-0.17%	Wednesday, 16 January 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,511.23	▼	-23.66	▼	-0.17%	
	Nasdaq____	3,117.54	▲	6.76	▲	0.22%	
	S&P_500____	1,472.63	▲	0.29	▲	0.02%	
	30_Yr_Bond____	3.019	▲	0.00	▲	0.07%	

NYSE Volume	 3,369,743,750 			 		 	
Nasdaq Volume	 1,694,502,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,103.98	▼	-13.33	▼	-0.22%	
	DAX_____	7,691.13	▲	15.22	▲	0.20%	
	CAC_40__	3,708.49	▲	11.14	▲	0.30%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,765.00	▲	22.00	▲	0.46%	
	Shanghai_Comp	2,309.50	▼	-16.18	▼	-0.70%	
	Taiwan_Weight	7,700.43	▼	-64.59	▼	-0.83%	
	Nikkei_225____	10,600.44	▼	-278.64	▼	-2.56%	
	Hang_Seng____	23,356.99	▲	53.93	▼	-0.10%	
	Strait_Times___	3,208.50	▲	12.43	▲	0.39%	
	NZX_50_Index__	4,169.23	▼	-1.72	▼	-0.04%	

http://finance.yahoo.com/news/boein...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Boeing leads Dow lower; other indexes mixed

Boeing drags Dow down after Japan grounds 787s; other indexes mixed after banks post earnings*

By Matthew Craft, AP Business Writer

 More problems for Boeing's 787 sent the aircraft maker's stock down sharply Wednesday, dragging the Dow Jones industrial average lower. 

Japan's two biggest airlines grounded all their Boeing 787s for safety checks Wednesday after one was forced to make an emergency landing. The plane, known as the Dreamliner, has been plagued by a series of problems this year, including a battery fire and fuel leaks. Boeing's stock sank $2.60 to $74.34, a loss of 3 percent. 

The Dow lost 23.66 points to close at 13,511.23. Without Boeing's drop, the Dow would have ended the day nearly flat. 

The Standard & Poor's 500 index inched up 0.29 to 1,472.63. A gain in Apple helped pull the Nasdaq composite up 6.77 points to 3,117.54. 

Apple rose $20.17 to $506.09, ending a three-day slide. The world's largest publicly traded company closed below $500 on Tuesday for the first time in nearly a year. Concerns that the popularity of its iPhone is waning have pushed Apple's stock down 5 percent this month. 

Goldman Sachs and JPMorgan Chase, the country's largest bank, rose after both posted quarterly results that trounced analysts' estimates. 

Harry Clark, chairman of Clark Capital Management Group in Philadelphia, described JPMorgan's numbers as staggering. The bank's quarterly earnings jumped 55 percent and total revenue for the year hit $100 billion. 

"Their earnings are just ridiculously good," Clark said. "It shows you that these giants can make money in any type of environment." 

Slightly smaller financial firms, such as Northern Trust and Bank of New York Mellon, reported weaker earnings and their stocks sank. 

JPMorgan Chase gained 47 cents to $46.82. The bank's stunning results were offset by an internal review of a $6 billion trading loss on credit derivatives. JPMorgan's board of directors criticized executives for failing to keep the board informed of potential problems and using unapproved models for measuring trading risks. 

Goldman Sachs gained $5.50 to $141.09, a 4 percent jump. The investment bank's profits nearly tripled in the fourth quarter of last year. Goldman's bond underwriting business had its best year since the financial crisis, thanks to strong demand for fixed-income investments and companies lining up to borrow at historically cheap rates. 

Analysts forecast that companies in the S&P 500 will report a 3.2 percent increase in fourth-quarter earnings. Financial firms and consumer-discretionary companies are expected to post the biggest growth, according to S&P Capital IQ. 

The Labor Department said consumer prices were flat last month as gas prices sank. The December reading of the consumer price index capped a year of tame inflation. Consumer prices increased just 1.7 percent in 2012, down from 3 percent in 2011. 

The report led traders to push up prices for Treasurys, knocking yields down. The 10-year Treasury note's yield slipped to 1.82 percent. The yield, used to set mortgages and a wide variety of other loans, ended Tuesday at 1.84 percent. 

Among other companies making news: 

”” Wendy's rose 4 percent, or 18 cents, to $5.08. The hamburger chain, known for its Frosty shakes and square burgers, earnings topped Wall Street's estimates, even as a key indicator of sales at North American restaurants dipped slightly. 

”” Chipotle Mexican Grill dropped 6 percent. The burrito chain warned that its quarterly earnings would fall short of previous forecasts because it underestimated the hit it would take from higher food costs. Chipotle's stock lost $16.38 to $280.94. 

”” Genworth Financial jumped 9 percent, the largest gain in the S&P 500. The financial services company laid out a plan to reorganize its business, including putting its mortgage unit under a new company. Genworth's stock gained 72 cents to $8.85.


----------



## bigdog

Source: http://finance.yahoo.com 

 The Standard and Poor's 500 index climbed to another five-year high after strong reports on housing starts and unemployment claims made investors more optimistic about the U.S. economy. 

The S&P 500 gained 8.31 points to close at 1,480.94, its highest level since December 2007. The Dow Jones industrial average also rose, climbing to a five-year high during the day, before falling back to finish 84.79 points higher at 13,596.02. The Nasdaq composite climbed 18.46 points to 3,136. 

U.S. builders started work on homes in December at the fastest pace since the summer of 2008, the Commerce Department said Thursday. Homebuilder stocks rose broadly following the report. The S&P 500's homebuilding index climbed 3.8 percent, its biggest gain in almost a month. PulteGroup led the advance with a jump of $1.03, or 5.3 percent, to $20.37. 

The number of Americans seeking unemployment benefits fell to a five-year low last week, the Labor Department reported, the latest sign that the job market is healing. Weekly unemployment benefit applications fell 37,000 to 335,000, a bigger decline than economists had forecast, according to financial data provider FactSet. 

The reports helped offset disappointment over the fourth-quarter earnings reports of two of the nation's biggest banks, Citigroup and Bank of America, said JJ Kinahan, chief derivatives strategist at TD Ameritrade. 

"The financial stocks are having a tough time impressing the Street with anything," Kinahan said. "The traditional banks are getting squeezed on margins and the expectations for a lot of those companies had already been set low." 

Citigroup fell $1.24, or 2.9 percent, to $41.24 after its income fell well short of Wall Street's expectations. The bank's legal expenses rose and it released less money from its loan-loss reserves. 

Bank of America dropped 50 cents, or 4.2 percent, to $11.28 after its earnings declined. The bank is continuing to work on clearing up old problems at its mortgage unit. The bank made $367 million in the last three months of 2012 after paying preferred dividends, down sharply from $1.6 billion in the same period a year ago.

 *The NYSE DOW closed  	HIGHER ▲	84.79	points or ▲	0.63%	Thursday, 17 January 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,596.02	▲	84.79	▲	0.63%	
	Nasdaq____	3,136.00	▲	18.46	▲	0.59%	
	S&P_500____	1,480.94	▲	8.31	▲	0.56%	
	30_Yr_Bond____	3.068	▲	0.05	▲	1.62%	

NYSE Volume	 3,966,953,250 			 		 	
Nasdaq Volume	 1,766,330,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,132.36	▲	28.38	▲	0.46%	
	DAX_____	7,735.46	▲	44.33	▲	0.58%	
	CAC_40__	3,744.11	▲	35.62	▲	0.96%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,779.70	▲	14.70	▲	0.31%	
	Shanghai_Comp	2,284.91	▼	-24.59	▼	-1.06%	
	Taiwan_Weight	7,616.64	▼	-83.79	▼	-1.09%	
	Nikkei_225____	10,609.64	▲	9.20	▲	0.09%	
	Hang_Seng____	23,339.76	▲	53.93	▼	-0.07%	
	Strait_Times___	3,195.10	▼	-13.40	▼	-0.42%	
	NZX_50_Index__	4,196.81	▲	27.58	▲	0.66%	

http://finance.yahoo.com/news/p-500-surges-housing-starts-214652619.html
*
S&P 500 surges on housing starts, jobless claims

S&P 500 hits another 5-year high after getting a boost from housing report; eBay jumps*

By Steve Rothwell, AP Business Writer

The Standard and Poor's 500 index climbed to another five-year high after strong reports on housing starts and unemployment claims made investors more optimistic about the U.S. economy. 

The S&P 500 gained 8.31 points to close at 1,480.94, its highest level since December 2007. The Dow Jones industrial average also rose, climbing to a five-year high during the day, before falling back to finish 84.79 points higher at 13,596.02. The Nasdaq composite climbed 18.46 points to 3,136. 

U.S. builders started work on homes in December at the fastest pace since the summer of 2008, the Commerce Department said Thursday. Homebuilder stocks rose broadly following the report. The S&P 500's homebuilding index climbed 3.8 percent, its biggest gain in almost a month. PulteGroup led the advance with a jump of $1.03, or 5.3 percent, to $20.37. 

The number of Americans seeking unemployment benefits fell to a five-year low last week, the Labor Department reported, the latest sign that the job market is healing. Weekly unemployment benefit applications fell 37,000 to 335,000, a bigger decline than economists had forecast, according to financial data provider FactSet. 

The reports helped offset disappointment over the fourth-quarter earnings reports of two of the nation's biggest banks, Citigroup and Bank of America, said JJ Kinahan, chief derivatives strategist at TD Ameritrade. 

"The financial stocks are having a tough time impressing the Street with anything," Kinahan said. "The traditional banks are getting squeezed on margins and the expectations for a lot of those companies had already been set low." 

Citigroup fell $1.24, or 2.9 percent, to $41.24 after its income fell well short of Wall Street's expectations. The bank's legal expenses rose and it released less money from its loan-loss reserves. 

Bank of America dropped 50 cents, or 4.2 percent, to $11.28 after its earnings declined. The bank is continuing to work on clearing up old problems at its mortgage unit. The bank made $367 million in the last three months of 2012 after paying preferred dividends, down sharply from $1.6 billion in the same period a year ago. 

Kim Caughey Forrest, a senior analyst at Fort Pitt Capital Group, said it was too early to conclude that the housing market had turned the corner. She noted that a large "shadow inventory" of houses that still need to be foreclosed on may weigh on house prices in the coming months. 

"This rally is probably a little bit too optimistic for the information that we got," Caughey Forrest said. "There's some conflicting information here and the market has just decided to overlook the negative thing." 

The indexes powered higher even as more discouraging news about manufacturing came out. The Philadelphia branch of the Federal Reserve reported that manufacturing contracted this month in the mid-Atlantic region. On Tuesday, the Fed's New York branch reported that manufacturing in its own district was worsening. 

Stocks started 2013 with a rally after lawmakers came up with a last-minute plan to stop the U.S. going over the "fiscal cliff," a series of tax hikes and spending cuts that economists say would probably have pushed the U.S. into recession. 

The Dow and the S&P 500 are both up 3.8 percent since the start of January. 

The yield on the 10-year Treasury note, which moves inversely to its price, rose four basis points to 1.88 percent. 

Other stocks making big moves: 

”” EBay rose $1.27, or 2.4 percent, to $54.17 after reporting fourth-quarter earnings that exceeded analysts' expectations. Bargain-hunting holiday shoppers flocked to eBay's online shopping mall and digital payment service, PayPal. 

”” CBS surged $3.01, or 7.9 percent, to $40.95 after the media company said late Wednesday that it was converting its U.S. outdoor advertising business to a real estate investment trust and selling the international portion of the business. Deutsche Bank analysts lifted their target price on the stock to $47 from $40, saying the conversion to a REIT "meaningfully enhances value." 

”” BlackRock gained $9.76, or 4.4 percent, to $232 after the investment manager said its fourth-quarter net income surged, beating analysts' forecasts. The company also increased its dividend and said it may buy back more stock


----------



## bigdog

Source: http://finance.yahoo.com 

Better earnings from General Electric and Morgan Stanley helped the stock market inch higher Friday, as major indexes closed out their third straight week of gains. 

GE led the 30 stocks in the Dow Jones industrial average after the conglomerate reported stronger quarterly earnings, thanks to orders from Brazil, Angola and other developing countries. Profits increased at all seven of its industrial segments, including oil and gas, energy management, aviation and transportation. GE climbed 74 cents to $22.04. 

The Dow gained 53.68 points to end at 13,649.70. 

The Standard & Poor's 500 index rose 5.04 points to 1,485.98, while the Nasdaq composite fell 1.30 points to 3,134.70. 

Even though investors had plenty of news to digest, trading was largely quiet. "Earnings always matter," said Rex Macey, the chief investment officer of Wilmington Trust Investment Advisors in Atlanta. "But just because we're in the middle of earnings season doesn't mean we're going to get huge market moves." 

This earnings season is off to a good start so far. Of the 67 companies in the S&P 500 that have reported, 43 have trumped analysts' estimates. 

Solid results this week from JPMorgan Chase and others, along with encouraging news on housing and employment, pushed the S&P 500 index to its latest five-year high. 

Morgan Stanley's earnings surged across its many business lines, as more companies hired the investment bank to help it raise money and line up mergers. Morgan Stanley gained 8 percent, rising $1.63 to $22.38. 

Analysts forecast that companies in the S&P 500 will report a 4 percent increase in fourth-quarter earnings over the same period the year before, according to a report out Friday from S&P Capital IQ. They say banks and other financial firms should have the strongest profit growth of any industry. Technology companies like Intel are expected to struggle. 

 *The NYSE DOW closed  	HIGHER ▲	53.68	points or ▲	0.39%	Friday, 18 January 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,649.70	▲	53.68	▲	0.39%	
	Nasdaq____	3,134.71	▼	-1.29	▼	-0.04%	
	S&P_500____	1,485.98	▲	5.04	▲	0.34%	
	30_Yr_Bond____	3.031	▼	-0.04	▼	-1.21%	

NYSE Volume	 4,019,337,750 			 		 	
Nasdaq Volume	 1,890,532,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,154.41	▲	22.05	▲	0.36%	
	DAX_____	7,702.23	▼	-33.23	▼	-0.43%	
	CAC_40__	3,741.58	▼	-2.53	▼	-0.07%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,794.70	▲	15.00	▲	0.31%	
	Shanghai_Comp	2,317.07	▲	32.16	▲	1.41%	
	Taiwan_Weight	7,732.87	▲	116.23	▲	1.53%	
	Nikkei_225____	10,913.30	▲	303.66	▲	2.86%	
	Hang_Seng____	23,601.78	▲	53.93	▲	1.12%	
	Strait_Times___	3,211.22	▲	16.12	▲	0.50%	
	NZX_50_Index__	4,164.18	▼	-32.63	▼	-0.78%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks end week with gains; GE rises, Intel falls

S&P 500 index closes with third straight week of gains; GE climbs after better earnings*

By Matthew Craft, AP Business Writer

Better earnings from General Electric and Morgan Stanley helped the stock market inch higher Friday, as major indexes closed out their third straight week of gains. 

GE led the 30 stocks in the Dow Jones industrial average after the conglomerate reported stronger quarterly earnings, thanks to orders from Brazil, Angola and other developing countries. Profits increased at all seven of its industrial segments, including oil and gas, energy management, aviation and transportation. GE climbed 74 cents to $22.04. 

The Dow gained 53.68 points to end at 13,649.70. 

The Standard & Poor's 500 index rose 5.04 points to 1,485.98, while the Nasdaq composite fell 1.30 points to 3,134.70. 

Even though investors had plenty of news to digest, trading was largely quiet. "Earnings always matter," said Rex Macey, the chief investment officer of Wilmington Trust Investment Advisors in Atlanta. "But just because we're in the middle of earnings season doesn't mean we're going to get huge market moves." 

This earnings season is off to a good start so far. Of the 67 companies in the S&P 500 that have reported, 43 have trumped analysts' estimates. 

Solid results this week from JPMorgan Chase and others, along with encouraging news on housing and employment, pushed the S&P 500 index to its latest five-year high. 

Morgan Stanley's earnings surged across its many business lines, as more companies hired the investment bank to help it raise money and line up mergers. Morgan Stanley gained 8 percent, rising $1.63 to $22.38. 

Intel, the world's biggest chipmaker, said late Thursday that fourth-quarter net income fell 27 percent. A growing preference for smartphones and tablets, instead of personal computers and laptops powered by Intel chips, have made investors wary of the company's stock. It lost $1.43 to $21.25. 

Norwegian Cruise Line soared 30 percent in its first day of trading, the top performance of the three companies making their public debut on Friday. Five companies raised a total of $1.8 billion through initial public offerings this week, making it the best week for IPOs since early October, according to the data provider Ipreo. 

American Express fell 96 cents to $59.78. Hefty charges tied to the credit card issuer's plan to cut jobs and reorganize some business lines hurt results, and revenue fell short of estimates. 

Analysts forecast that companies in the S&P 500 will report a 4 percent increase in fourth-quarter earnings over the same period the year before, according to a report out Friday from S&P Capital IQ. They say banks and other financial firms should have the strongest profit growth of any industry. Technology companies like Intel are expected to struggle. 

Among other companies in the news: 

”” Capital One lost 7 percent after reporting revenue and earnings that fell short of analysts' estimates. The bank and credit-card company also lowered its forecast for revenue in the months to come, and many brokerages quickly responded by cutting their outlook for the company's stock. Capital One sank $4.60 to $56.99. 

”” Life Technologies, a maker of genetic testing equipment, soared 11 percent following reports that it's considering putting itself up for sale. The company's board said it has hired Deutsche Bank Securities and the investment bank Moelis & Co. Life Technologies' stock jumped $5.82 to $60.79

2440


----------



## bigdog

Source: http://finance.yahoo.com 

Hopes that U.S. politicians will be able to reach a deal on raising the government's debt limit, avoiding the risk of a disastrous default, supported global markets on Monday, when Wall Street will remain closed for a holiday. 

Congress must agree by the end of February to increase the limit on how much the U.S. can borrow so the government can service its debt. If it doesn't, the country could default, which would deal a heavy blow to global financial markets and undermine confidence in the world's largest economy. 

The Republicans appear ready to raise the debt ceiling temporarily and have also backed away from their insistence on deep spending concessions in exchange for a deal. The signs of compromise encouraged investors to buy into stock indexes, many of which are near multi-year highs. 

"Although this again could be seen as another round of political battle, any progress to avoid immediate dangers will likely be seen as positive by the market," said Gary Yau, analyst at Credit Agricole CIB, in a report to investors. 

Britain's FTSE 100 closed Monday up 0.43 percent to 6,180.98 while Germany's DAX had advanced 0.36 percent to 7,729.80. France's CAC-40 ended the day up 0.2 percent to 3,749.79. 

U.S. stock and bond markets are closed for Martin Luther King, Jr. Day. 

Earlier in Asia, markets were more cautious, with Japanese shares hit hard by a rise in the yen. The Nikkei 225 fell 1.5 percent to close at 10,747.74. 

 *The NYSE DOW was closed  	on	Monday, 21 January 2013 for the Martin Luther King, Jr. Day Holiday.  

On Friday January 18 the DOW closed higher	**

 Symbol …........Last ......Change..... * 
	Dow_Jones	13,649.70	▲	53.68	▲	0.39%	
	Nasdaq____	3,134.71	▼	-1.29	▼	-0.04%	
	S&P_500____	1,485.98	▲	5.04	▲	0.34%	
	30_Yr_Bond____	3.031	▼	-0.04	▼	-1.21%	

NYSE Volume	 4,019,337,750 			 		 	
Nasdaq Volume	 1,890,532,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,180.98	▲	48.62	▲	0.79%	
	DAX_____	7,748.86	▲	46.63	▲	0.61%	
	CAC_40__	3,763.03	▲	21.45	▲	0.57%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,802.20	▲	7.50	▲	0.16%	
	Shanghai_Comp	2,328.22	▲	11.15	▲	0.48%	
	Taiwan_Weight	7,724.92	▼	-7.95	▼	-0.10%	
	Nikkei_225____	10,747.74	▼	-165.56	▼	-1.52%	
	Hang_Seng____	23,590.91	▲	53.93	▼	-0.05%	
	Strait_Times___	3,221.32	▲	10.10	▲	0.31%	
	NZX_50_Index__	4,185.18	▲	21.00	▲	0.50%	

http://finance.yahoo.com/news/glimmer-hope-us-debt-talks-115406954.html

*Glimmer of hope in US debt talks buoys markets

Global stock markets mostly edge higher on hope for US debt talks; Wall Street to stay closed*

By Carlo Piovano, Associated Press 

Hopes that U.S. politicians will be able to reach a deal on raising the government's debt limit, avoiding the risk of a disastrous default, supported global markets on Monday, when Wall Street will remain closed for a holiday. 

Congress must agree by the end of February to increase the limit on how much the U.S. can borrow so the government can service its debt. If it doesn't, the country could default, which would deal a heavy blow to global financial markets and undermine confidence in the world's largest economy. 

The Republicans appear ready to raise the debt ceiling temporarily and have also backed away from their insistence on deep spending concessions in exchange for a deal. The signs of compromise encouraged investors to buy into stock indexes, many of which are near multi-year highs. 

"Although this again could be seen as another round of political battle, any progress to avoid immediate dangers will likely be seen as positive by the market," said Gary Yau, analyst at Credit Agricole CIB, in a report to investors. 

Britain's FTSE 100 closed Monday up 0.43 percent to 6,180.98 while Germany's DAX had advanced 0.36 percent to 7,729.80. France's CAC-40 ended the day up 0.2 percent to 3,749.79. 

U.S. stock and bond markets are closed for Martin Luther King, Jr. Day. 

Dickie Wong, executive director of research at Kingston Securities in Hong Kong, said he was optimistic that an agreement on the U.S. debt ceiling would be reached because of the high price tag attached to failing to do so. 

"Both parties will find some kind of solution because they all know that the debt ceiling will have to be increased," Wong said. "At the very last minute, they will sort it out." 

Earlier in Asia, markets were more cautious, with Japanese shares hit hard by a rise in the yen. The Nikkei 225 fell 1.5 percent to close at 10,747.74. 

The Bank of Japan began a two-day policy meeting and has been under pressure from the new government to take more aggressive steps to fight the long deflationary slump in the world's third largest economy. Some analysts expect the bank to expand its asset-purchasing program and set an inflation target. 

South Korea's Kospi dropped 0.1 percent to 1,986.86. Hong Kong's Hang Seng fell 0.1 percent to 23,590.91. Australia's S&P/ASX 200 rose 0.1 percent to 4,777.50. 

In mainland China, the Shanghai Composite Index gained 0.5 percent to 2,328.22 while the smaller Shenzhen Composite Index rose 0.7 percent to 942.50. 

In commodity markets, the benchmark oil contract for February delivery was down 50 cents to $95.06 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 7 cents to finish at $95.56 per barrel on the Nymex on Friday. 

In currencies, the euro fell to $1.3301 from $1.3320 late Friday in New York. The dollar fell to 89.49 yen from 90.03 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

Strong earnings reports from big U.S. companies helped push the Dow Jones industrial average to its eighth gain in nine sessions Tuesday. 

DuPont, Verizon and Travelers Cos., three of the 30 stocks that make up the Dow, closed higher after reporting their financial results for the final quarter of 2012. 

The Dow closed up 62.51 points, or 0.5 percent, at 13,712.21. The Standard & Poor's 500 index gained 6.53, or 0.4 percent, to 1,492.51. The Nasdaq composite average rose 8.47, or 0.3 percent, to 3,143.18. 

The indexes spent the morning edging between small gains and losses. Around noon, the Dow rose decisively and stayed higher for the rest of the day. 

Earnings have been strong enough this season to drive a five-day winning streak for the S&P 500 and put the Dow on track for its biggest monthly percentage gain since October 2011. Jack Ablin, chief investment officer at BMO Private Bank in Chicago, said traders have been encouraged by the number of companies beating analysts' profit expectations. 

"Granted, we have diminished expectations, but companies are doing a decent job beating on the profit side," he said. The revenue side of the equation has been weaker, Ablin said, preventing a stronger updraft for stocks. Traders might gain more confidence if companies reported stronger demand from emerging markets and Europe, he said. 

"The U.S. has been pulling this wagon by itself for the last couple years, and now we're facing some austerity measures. We could certainly use a hand," he said. 

 *The NYSE DOW closed  	HIGHER ▲	62.51	points or ▲	0.46%	Tuesday, 22 January 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,712.21	▲	62.51	▲	0.46%	
	Nasdaq____	3,143.18	▲	8.47	▲	0.27%	
	S&P_500____	1,492.56	▲	6.58	▲	0.44%	
	30_Yr_Bond____	3.022	▼	-0.01	▼	-0.30%	

NYSE Volume	 3,785,283,750 			 		 	
Nasdaq Volume	 1,790,302,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,179.17	▼	-1.81	▼	-0.03%	
	DAX_____	7,696.21	▼	-52.65	▼	-0.68%	
	CAC_40__	3,741.01	▼	-22.02	▼	-0.59%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,802.90	▲	0.70	▲	0.01%	
	Shanghai_Comp	2,315.14	▼	-13.08	▼	-0.56%	
	Taiwan_Weight	7,759.10	▲	34.18	▲	0.44%	
	Nikkei_225____	10,709.93	▼	-37.81	▼	-0.35%	
	Hang_Seng____	23,658.99	▲	53.93	▲	0.29%	
	Strait_Times___	3,219.86	▼	-1.46	▼	-0.05%	
	NZX_50_Index__	4,187.08	▲	1.90	▲	0.05%	

http://finance.yahoo.com/news/us-st...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*US stocks rise as tech, industrial earns roll in

US stock indexes rise as technology, industrial companies report fourth quarter earnings*

By Daniel Wagner, AP Business Writer

Strong earnings reports from big U.S. companies helped push the Dow Jones industrial average to its eighth gain in nine sessions Tuesday. 

DuPont, Verizon and Travelers Cos., three of the 30 stocks that make up the Dow, closed higher after reporting their financial results for the final quarter of 2012. 

The Dow closed up 62.51 points, or 0.5 percent, at 13,712.21. The Standard & Poor's 500 index gained 6.53, or 0.4 percent, to 1,492.51. The Nasdaq composite average rose 8.47, or 0.3 percent, to 3,143.18. 

The indexes spent the morning edging between small gains and losses. Around noon, the Dow rose decisively and stayed higher for the rest of the day. 

Earnings have been strong enough this season to drive a five-day winning streak for the S&P 500 and put the Dow on track for its biggest monthly percentage gain since October 2011. Jack Ablin, chief investment officer at BMO Private Bank in Chicago, said traders have been encouraged by the number of companies beating analysts' profit expectations. 

"Granted, we have diminished expectations, but companies are doing a decent job beating on the profit side," he said. The revenue side of the equation has been weaker, Ablin said, preventing a stronger updraft for stocks. Traders might gain more confidence if companies reported stronger demand from emerging markets and Europe, he said. 

"The U.S. has been pulling this wagon by itself for the last couple years, and now we're facing some austerity measures. We could certainly use a hand," he said. 

Among the Dow components that reported early Tuesday, chemical and bioscience company DuPont reported a sharp drop in net income on weakness in its electronics, communications and other businesses, but the results still beat analysts' forecasts. DuPont's stock closed up 83 cents, or 1.8 percent, at $47.82. 

Johnson & Johnson said higher sales helped boost its profit from a year ago, when results were weighed down by a slew of one-time charges. However, the company's 2013 profit forecast fell short of analysts' estimates. J&J dropped 54 cents, or 0.7 percent, to $72.69. 

Verizon Communications Inc. rose after the country's biggest wireless carrier said it activated a record number of new devices on contract-based plans in the fourth quarter. Verizon's net loss widened on restructuring and pension costs and expenses related to the cleanup from Superstorm Sandy. Its stock rose 40 cents, or 0.9 percent, to $42.94. 

A fourth member of the Dow 30, property and casualty insurer Travelers Cos., rose strongly after it said core income categories like investments and premiums written rose. Net income fell because of claims filed in the wake of Superstorm Sandy. The stock shot up $1.64, or 2.2 percent, to $77.95, an all-time closing high. Travelers has risen nearly 27 percent over the past 12 months. 

The market was closed on Monday for the Martin Luther King Jr. holiday. 

Yet another company hit by Superstorm Sandy was Delta Air Lines, which said its fourth-quarter profit was nearly wiped out after it was forced to cancel more than 20,000 flights. The storm hit Delta harder than other airlines because it slowed operations at Delta's new oil refinery near Philadelphia. The results were still better than analysts were expecting. Delta rose 40 cents, or 2.9 percent, to $14.01. 

Tech behemoths Google and IBM reported solid earnings gains after the market closed. Tech companies' results are being watched closely because many of them have warned about a weak fourth quarter. 

Google soared after saying its fourth-quarter earnings rose 7 percent as online advertisers spent more money in pursuit of holiday shoppers. The stock gained $29.13, or 4.1 percent, to $732 in after-hours trading. 

IBM said its net income rose 6 percent. The stock rose $6.82, or 3.5 percent, to $202.90 in late trading. 

Apple reports after the bell Wednesday. 

Freight rail companies are another key category at this stage in the economic recovery. They are seen as a proxy for the broader economy because their results track the demand for transportation of materials used in manufacturing and goods sold to consumers and businesses. 

Two big railroads reported after the closing bell. CSX gained 74 cents, or 3.6 percent, to $21.55 in after-hours trading after beating analysts' expectations. Norfolk Southern rose $1.05, or 1.6 percent, to $67.99 after the bell. 

Some homebuilder stocks fell after the National Association of Homebuilders said sales of previously occupied homes dipped to an annual pace of 4.94 million in December from 4.99 million in November. November's figure was revised lower, but was still the highest in three years. 

Lennar Corp. fell a penny to $42.07. Hovnanian Enterprises Inc. lost 6 cents to $6.24. 

The yield on the benchmark 10-year Treasury note was unchanged at 1.84 percent. 

Benchmark oil rose 62 cents to $96.66 on the New York Mercantile Exchange, as global economic reports remained generally positive.


----------



## bigdog

Source: http://finance.yahoo.com 

Strong earnings from tech giants nudged the stock market to a five-year high Wednesday. Investors drew encouragement from a vote by the House of Representatives to let the government keep paying all of its bills for another four months. 

The Dow Jones industrial average rose 67.12 points to close at 13,779.33. That's the highest level since Oct. 31, 2007, a month before the Great Recession started. 

Google and IBM reported surprisingly solid fourth-quarter earnings late Tuesday, a hopeful sign for investors who expected tech companies to struggle at the end of last year. 

IBM's results beat expectations, thanks to its lucrative Internet-based "cloud computing" business and sales of software services to Brazil, Russia and other developing countries. The company also raised its earnings outlook for the current year. IBM led the Dow's 30 stocks, rising $8.64 to $204.72. 

Without IBM's 4 percent gain, the Dow would have been nearly flat. 

Other indexes made slight gains. The Standard & Poor's 500 index inched up 2.25 points to 1,494.81, while the tech-heavy Nasdaq composite rose 10.49 points to 3,153.67. 

The stock market has climbed so quickly this month that it will likely take more than good earnings to keep it heading higher. "This market is really stretched," said Clark Yingst, chief market analyst at the securities firm Joseph Gunnar. "We've essentially gone straight up since January 2. There's certainly room for people to take profits." 

The S&P 500 index is already up 4.8 percent in 2013. That's more than half of what most stock-fund investors hope to make in a single year. 

The House passed a bill Wednesday afternoon to suspend the government's borrowing limit until May 19. Senate Majority Leader Harry Reid, D-Nev., said his chamber would immediately move the legislation to the White House. 

House Republicans had previously said they would use the debt ceiling as a bargaining chip to push for deeper government spending cuts. 

 *The NYSE DOW closed  	HIGHER ▲	67.12	points or ▲	0.49%	Wednesday, 23 January 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,779.33	▲	67.12	▲	0.49%	
	Nasdaq____	3,153.67	▲	10.49	▲	0.33%	
	S&P_500____	1,494.81	▲	2.25	▲	0.15%	
	30_Yr_Bond____	3.027	▲	0.01	▲	0.17%	

NYSE Volume	 3,764,859,000 			 		 	
Nasdaq Volume	 1,727,917,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,197.64	▲	18.47	▲	0.30%	
	DAX_____	7,707.54	▲	11.33	▲	0.15%	
	CAC_40__	3,726.17	▼	-14.84	▼	-0.40%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,812.10	▲	9.20	▲	0.19%	
	Shanghai_Comp	2,320.91	▲	5.77	▲	0.25%	
	Taiwan_Weight	7,744.18	▼	-14.92	▼	-0.19%	
	Nikkei_225____	10,486.99	▼	-222.94	▼	-2.08%	
	Hang_Seng____	23,635.10	▲	53.93	▼	-0.10%	
	Strait_Times___	3,231.23	▲	11.37	▲	0.35%	
	NZX_50_Index__	4,187.72	▲	0.64	▲	0.02%	

http://finance.yahoo.com/news/ibms-...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*IBM's results lift Dow average to a 5-year high

Solid earnings from IBM push the Dow Jones industrial average to a new 5-year high*

By Matthew Craft, AP Business Writer

Strong earnings from tech giants nudged the stock market to a five-year high Wednesday. Investors drew encouragement from a vote by the House of Representatives to let the government keep paying all of its bills for another four months. 

The Dow Jones industrial average rose 67.12 points to close at 13,779.33. That's the highest level since Oct. 31, 2007, a month before the Great Recession started. 

Google and IBM reported surprisingly solid fourth-quarter earnings late Tuesday, a hopeful sign for investors who expected tech companies to struggle at the end of last year. 

IBM's results beat expectations, thanks to its lucrative Internet-based "cloud computing" business and sales of software services to Brazil, Russia and other developing countries. The company also raised its earnings outlook for the current year. IBM led the Dow's 30 stocks, rising $8.64 to $204.72. 

Without IBM's 4 percent gain, the Dow would have been nearly flat. 

Other indexes made slight gains. The Standard & Poor's 500 index inched up 2.25 points to 1,494.81, while the tech-heavy Nasdaq composite rose 10.49 points to 3,153.67. 

The stock market has climbed so quickly this month that it will likely take more than good earnings to keep it heading higher. "This market is really stretched," said Clark Yingst, chief market analyst at the securities firm Joseph Gunnar. "We've essentially gone straight up since January 2. There's certainly room for people to take profits." 

The S&P 500 index is already up 4.8 percent in 2013. That's more than half of what most stock-fund investors hope to make in a single year. 

The House passed a bill Wednesday afternoon to suspend the government's borrowing limit until May 19. Senate Majority Leader Harry Reid, D-Nev., said his chamber would immediately move the legislation to the White House. 

House Republicans had previously said they would use the debt ceiling as a bargaining chip to push for deeper government spending cuts. 

Google gained 6 percent after its earnings climbed at the end of last year as online advertisers spent more money in pursuit of holiday shoppers. Google rose $38.63 to $741.50. 

Another tech giant, Apple, fell in after-hours trading after reporting sales that fell short of forecasts. 

Slumping coal shipments have been a drag on railroad operators, but CSX and Norfolk Southern posted better revenue and profits than expected. The railroads managed to offset some of the hit from falling coal demand by getting more money from carrying car parts, building materials and other products. 

Norfolk Southern rose $1.47 to $68.41 while CSX gained 87 cents to $21.68. 

The quarterly earnings season is off to strong start. Of the 83 companies in the S&P 500 that reported through Tuesday, 54 have beaten Wall Street's estimates, according to S&P Capital IQ. 

In the bond market, the yield on the benchmark 10-year Treasury note dipped to 1.83 percent from 1.84 percent late Tuesday. 

Among other companies posting quarterly earnings: 

”” Advanced Micro Devices jumped 11 percent, making it the top stock in the S&P 500. The world's second-largest maker of microchips, behind Intel, posted a smaller loss and higher revenue than analysts had forecast. AMD rose 28 cents to $2.73. 

”” Coach plunged 16 percent, or $9.93, to $50.75. The luxury handbag maker said a challenging economy and heavy price-cutting by competitors weighed on its results. Rivals like Michael Kors have attracted more followers. 

”” McDonald's Corp. eked out a higher quarterly profit with the help of its Dollar Menu and the McRib sandwich. The world's biggest hamburger chain plans to roll out new menu items this year to support sales, including the Fish McBites. McDonald's inched up 53 cents to $93.48.


----------



## bigdog

Source: http://finance.yahoo.com 

 A sharp drop in Apple's stock pulled the Nasdaq down with it after the tech giant warned of weaker sales. Other stock-market indexes eked out slight gains. 

Apple sank $63.50 to $430.50. With iPhone sales hitting a plateau and no new products to introduce, Apple said sales would likely increase just 7 percent in the current quarter. That's a let-down for a company that has regularly posted growth rates above 50 percent. 

The Standard & Poor's 500 index edged up 0.01 of a point to 1,494.82. Earlier in the day, the S&P 500 crossed above 1,500 for the first time since December 2007. 

The broad gauge of the stock market has already gained 4.8 percent this year and climbed seven days in a row. 

One reason for the market's recent rise is that some of the biggest obstacles have been pushed aside, said Brian Gendreau, a market strategist at Cetera Financial Group. On Wednesday, the House of Representatives agreed to suspend the federal government's borrowing limit until May 19, allowing the U.S. to keep paying its bills for another four months. 

"Politics is off the table for now and Europe seems like it's stable. So what's left? It's earnings. And aside from Apple it seems like pretty good news," Gendreau said. 

The Dow Jones industrial average gained 46 points to close at 13,825.33. The Nasdaq fell 23.29 points to 3,130.38. The 12 percent drop in Apple, which makes up 10 percent of the index, was enough to pull the Nasdaq lower. 

 *The NYSE DOW closed  	HIGHER ▲	46.00	points or ▲	0.33%	Thursday, 24 January 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,825.33	▲	46.00	▲	0.33%	
	Nasdaq____	3,130.38	▼	-23.29	▼	-0.74%	
	S&P_500____	1,494.82	▲	0.01	▲	0.00%	
	30_Yr_Bond____	3.039	▲	0.01	▲	0.40%	

NYSE Volume	 3,999,070,750 			 		 	
Nasdaq Volume	 2,049,702,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,264.91	▲	67.27	▲	1.09%	
	DAX_____	7,748.13	▲	40.59	▲	0.53%	
	CAC_40__	3,752.17	▲	26.00	▲	0.70%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,833.80	▲	21.70	▲	0.45%	
	Shanghai_Comp	2,302.60	▼	-18.31	▼	-0.79%	
	Taiwan_Weight	7,695.99	▼	-48.19	▼	-0.62%	
	Nikkei_225____	10,620.87	▲	133.88	▲	1.28%	
	Hang_Seng____	23,598.90	▲	53.93	▼	-0.15%	
	Strait_Times___	3,248.39	▲	17.16	▲	0.53%	
	NZX_50_Index__	4,189.91	▲	2.19	▲	0.05%	

http://finance.yahoo.com/news/apple...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

Apple's sales slowdown tugs Nasdaq index lower
Apple pulls Nasdaq lower after predicting slower sales; S&P 500 briefly breaks 1,500
By Matthew Craft, AP Business Writer 

A sharp drop in Apple's stock pulled the Nasdaq down with it after the tech giant warned of weaker sales. Other stock-market indexes eked out slight gains. 

Apple sank $63.50 to $430.50. With iPhone sales hitting a plateau and no new products to introduce, Apple said sales would likely increase just 7 percent in the current quarter. That's a let-down for a company that has regularly posted growth rates above 50 percent. 

The Standard & Poor's 500 index edged up 0.01 of a point to 1,494.82. Earlier in the day, the S&P 500 crossed above 1,500 for the first time since December 2007. 

The broad gauge of the stock market has already gained 4.8 percent this year and climbed seven days in a row. 

One reason for the market's recent rise is that some of the biggest obstacles have been pushed aside, said Brian Gendreau, a market strategist at Cetera Financial Group. On Wednesday, the House of Representatives agreed to suspend the federal government's borrowing limit until May 19, allowing the U.S. to keep paying its bills for another four months. 

"Politics is off the table for now and Europe seems like it's stable. So what's left? It's earnings. And aside from Apple it seems like pretty good news," Gendreau said. 

The Dow Jones industrial average gained 46 points to close at 13,825.33. The Nasdaq fell 23.29 points to 3,130.38. The 12 percent drop in Apple, which makes up 10 percent of the index, was enough to pull the Nasdaq lower. 

Even after its recent slump, Apple still ranks as the world's most valuable company at $423 billion, putting it $7 billion ahead of the runner up, Exxon Mobil. 

Heading into this earnings season, many investors wondered whether shrinking sales would start to squeeze Corporate America's profits. Judging by the results so far, few are struggling. 

Of the 134 big companies in the S&P 500 that reported through Thursday morning, 85 have beaten Wall Street's estimates, according to S&P Capital IQ. 

Microsoft fell in after-hours trading after reporting that its earnings slipped 4 percent in the last quarter of 2012. Starbucks, which also reported results after the closing bell, was little changed as its revenue came in slightly below forecasts. 

Netflix jumped $43.60 to $146.86, a 42 percent bounce. Analysts had expected rising costs to lead the movie and TV show distributor to post a loss in the last three months of 2012. But Netflix said late Wednesday that it turned a profit with the help of 2 million new subscribers. 

The Labor Department reported that the number of Americans applying for unemployment aid fell last week to the lowest since January 2008. Applications dropped 5,000 to 330,000. The four-week average also hit a five-year low. 

The employment report nudged prices for U.S. government bonds down, sending their yields higher. The yield on the benchmark 10-year Treasury note inched up to 1.85 percent from 1.83 percent late Wednesday. 

Airline stocks were mostly higher. Despite rising fuel costs, Southwest reported better earnings than analysts had expected, thanks partially to the airline charging $8 more for the average fare. The parent company of United Airlines and Continental took a heavy quarterly loss but announced plans to cut around 600 jobs. 

Southwest Airlines rose 9 cents to $11.45. United Continental Holdings gained 54 cents to $25.54. 

Among other companies reporting earnings: 

”” Xerox rose 17 cents to $7.75. Xerox's net income shrunk over the same period the previous year but it still beat analysts' estimates by a penny, helped by better revenue from its business services. 

”” Union Pacific dropped $1.51 to $133.84. The country's largest railroad company posted weaker revenue than analysts had predicted, a result of falling coal and crop shipments.


----------



## bigdog

Source: http://finance.yahoo.com 

Passing another milestone on the nation's long journey back from the Great Recession, the Standard and Poor's 500 index closed above 1,500 for the first time in more than five years Friday after a wave of good earnings reports. 

It took scores of incremental gains, several stalled rallies and a few sickening falls, but the widely watched S&P, one of the broadest measures of the American stock market, finished at 1,502.96, up 8.14 points. The index had not closed above 1,500 since December 2007, the start of the worst economic downturn since the 1930s. 

The news came on top of other hopeful signs that the economy is slowly recovering. Housing is rebounding. Companies are hiring again, albeit slowly, and their earnings, a big driver of stock prices, are at record levels. 

"The bottom line is that corporate America is doing exceptionally well," said Joe Tanious, a global market strategist at JPMorgan. 

The breakthrough happened on an eighth straight daily gain for stocks, itself a remarkable performance. That is the longest winning streak since November 2004. 

Stocks have surged this month, with the S&P advancing 5.4 percent. It jumped at the start of the year when lawmakers reached a last-minute deal to avoid the "fiscal cliff." Signs that Europe has avoided financial collapse also helped. 

Stocks fell sharply during the Great Recession. By March 2009, the S&P was 57 percent below its October 2007 peak, a harrowing plunge that scarred a generation of small investors and, some Wall Street experts believe, will keep them away from stocks for years to come. 

Since that fall, the market has climbed sharply, though it has endured several big declines. In May 2010, a trading glitch set off a so-called flash crash that sent stocks plummeting. And in August 2011, stocks gyrated like a roller coaster for several days as fears mounted that the U.S. would default on its debts. 

On Friday, stocks were helped by earnings from two big companies. Procter & Gamble, the world's largest consumer products maker, rose $2.83 to $73.25 after reporting that its quarterly income more than doubled. P&G also raised its profit forecast for its full fiscal year. Starbucks climbed $2.24 to $56.81 after reporting a 13 percent increase in profits. 

The Dow Jones industrial average closed at 13,895.98, up 70.65 points. The Dow is up 6 percent on the year. 

The Nasdaq composite gained 19.33 points to 3,149.71. 

The Dow is now just 268 points below its record high of 14,165, reached on Oct. 9, 2007, two month before the recession began. The Dow has more than doubled since its recession low of 6,547 on March 9, 2009. 

The S&P 500 is 62 points shy of its record of 1,565, reached on the same day the Dow hit its peak. The S&P has also more than doubled from its low of 676, which happened on the same day the Dow bottomed out in 2009. 

 *The NYSE DOW closed  	HIGHER ▲	70.65	points or ▲	0.51%	Friday, 25 January 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,895.98	▲	70.65	▲	0.51%	
	Nasdaq____	3,149.71	▲	19.33	▲	0.62%	
	S&P_500____	1,502.96	▲	8.14	▲	0.54%	
	30_Yr_Bond____	3.130	▲	0.09	▲	3.09%	

NYSE Volume	 3,736,191,500 			 		 	
Nasdaq Volume	 1,936,001,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,284.45	▲	19.54	▲	0.31%	
	DAX_____	7,857.97	▲	109.84	▲	1.42%	
	CAC_40__	3,778.16	▲	25.99	▲	0.69%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,858.90	▲	25.10	▲	0.52%	
	Shanghai_Comp	2,291.30	▼	-11.29	▼	-0.49%	
	Taiwan_Weight	7,672.58	▼	-23.41	▼	-0.30%	
	Nikkei_225____	10,926.65	▲	305.78	▲	2.88%	
	Hang_Seng____	23,580.43	▲	53.93	▼	-0.08%	
	Strait_Times___	3,269.31	▲	20.92	▲	0.64%	
	NZX_50_Index__	4,199.82	▲	9.91	▲	0.24%	

http://finance.yahoo.com/news/p-closes-above-1-500-000829276.html

*S&P closes above 1,500 for 1st time since 2007

S&P 500 index closes above 1,500 for first time since start of Great Recession*

By Steve Rothwell, AP Business Writer

Passing another milestone on the nation's long journey back from the Great Recession, the Standard and Poor's 500 index closed above 1,500 for the first time in more than five years Friday after a wave of good earnings reports. 

It took scores of incremental gains, several stalled rallies and a few sickening falls, but the widely watched S&P, one of the broadest measures of the American stock market, finished at 1,502.96, up 8.14 points. The index had not closed above 1,500 since December 2007, the start of the worst economic downturn since the 1930s. 

The news came on top of other hopeful signs that the economy is slowly recovering. Housing is rebounding. Companies are hiring again, albeit slowly, and their earnings, a big driver of stock prices, are at record levels. 

"The bottom line is that corporate America is doing exceptionally well," said Joe Tanious, a global market strategist at JPMorgan. 

The breakthrough happened on an eighth straight daily gain for stocks, itself a remarkable performance. That is the longest winning streak since November 2004. 

Stocks have surged this month, with the S&P advancing 5.4 percent. It jumped at the start of the year when lawmakers reached a last-minute deal to avoid the "fiscal cliff." Signs that Europe has avoided financial collapse also helped. 

Stocks fell sharply during the Great Recession. By March 2009, the S&P was 57 percent below its October 2007 peak, a harrowing plunge that scarred a generation of small investors and, some Wall Street experts believe, will keep them away from stocks for years to come. 

Since that fall, the market has climbed sharply, though it has endured several big declines. In May 2010, a trading glitch set off a so-called flash crash that sent stocks plummeting. And in August 2011, stocks gyrated like a roller coaster for several days as fears mounted that the U.S. would default on its debts. 

On Friday, stocks were helped by earnings from two big companies. Procter & Gamble, the world's largest consumer products maker, rose $2.83 to $73.25 after reporting that its quarterly income more than doubled. P&G also raised its profit forecast for its full fiscal year. Starbucks climbed $2.24 to $56.81 after reporting a 13 percent increase in profits. 

The Dow Jones industrial average closed at 13,895.98, up 70.65 points. The Dow is up 6 percent on the year. 

The Nasdaq composite gained 19.33 points to 3,149.71. 

The Dow is now just 268 points below its record high of 14,165, reached on Oct. 9, 2007, two month before the recession began. The Dow has more than doubled since its recession low of 6,547 on March 9, 2009. 

The S&P 500 is 62 points shy of its record of 1,565, reached on the same day the Dow hit its peak. The S&P has also more than doubled from its low of 676, which happened on the same day the Dow bottomed out in 2009. 

JPMorgan's Tanious expects stocks to go even higher. He says corporate earnings should grow at about 5 percent over the next year or two, and stock valuations will rise. Currently, the S&P 500 is trading at an average price-to-earnings ratio of 14, below an average of 15.1 for the last decade, according to FactSet data. 

On Friday, Apple continued to decline, allowing Exxon Mobil to once again surpass the electronics giant as the world's most valuable publicly traded company. Apple fell 2.4 percent to $439.88, following a 12 percent drop on Thursday, the biggest one-day percentage decline for the company since 2008, after Apple forecast slower sales. The stock is now 37 percent below the record high of $702.10 it reached Sept. 19. 

Apple first surpassed Exxon in market value in the summer of 2011, grabbing a title Exxon had held since 2005. The two traded places through that fall, until Apple surpassed Exxon in early 2012. 

Not everyone on Wall Street thought the S&P milestone was worth celebrating. Some noted the stock market is more a reflection of how traders feel than a reflection of underlying fundamentals. 

"It's not a landmark that we really follow or that we really care about," said Derrick Irwin, portfolio manager for Wells Fargo Advantage Funds. "Focusing on the benchmarks can end up shooting you in the foot, as we've seen." 

Some of the rise may also be due to investing stock market momentum. A rule of thumb is that when a stock price or an overall index gets tantalizingly close to a milestone, as the S&P has been for days now, it's almost certain to cross that milestone, at least temporarily. 

"Sure, it's a good thing," said Christian Bertelsen, chief investment officer of Global Financial Private Capital in Sarasota, Fla. "But I wouldn't read too much into it." 

Still, Deutsche Bank analysts raised their year-end target for the index to 1,600 from 1,575. 

Companies will be able to maintain their earnings even if lawmakers in Washington decide to implement wide-ranging spending cuts to narrow the budget deficit, the analysts said in a note sent to clients late Thursday. 

The yield on the 10-year Treasury note, which moves inversely to its price, climbed 11 basis points to 1.95 percent. 

Among other stocks making big moves. 

”” Halliburton gained $1.91 to $39.72 after posting a loss that was smaller than analysts had expected. The oilfield-services company said fourth-quarter profits declined 26 percent to $669 million on increasing pricing pressure in the North American market and one-time charges from the Deepwater Horizon disaster. Wall Street had expected worse. 

”” Hasbro fell $1.14 to $37.31 after the toy maker said its fourth-quarter revenue failed to meet expectations because of poor demand over the holidays. The company plans to cut about 10 percent of its workforce and consolidate facilities to cut expenses. 

”” Green Mountain Coffee Roasters rose $2.53 to $46.31 after an analyst noted that sales of a competing coffee brewer introduced by Starbucks were getting off to a weak start.

3353


----------



## bigdog

Source: http://finance.yahoo.com 

U.S. stocks meandered between small gains and losses Monday, cooling off after a rally that had pushed the Standard & Poor's 500 index above 1,500 for the first time since December 2007. Encouraging news about manufacturing provided an early boost, but stocks fell later after a report on the pace of home sales fell short of expectations. 

The government said before trading began that orders for long-lasting goods rose in December by 4.6 percent, helped by a 10 percent gain in orders for new aircraft. The report was a sign of strength for the manufacturing sector, a crucial driver of economic growth. 

Heavy equipment maker Caterpillar said separately that its fourth-quarter net income exceeded analysts' expectations, after adjusting for the cost of a soured deal to buy a Chinese maker of roofing supports for mines. Caterpillar said it took a big charge in the quarter because the Chinese company had misrepresented its finances. 

Caterpillar Inc. said it expects growth in China to improve without regaining the levels seen in 2010 or 2011. The stock was the biggest gainer in the Dow Jones industrial average, closing up $1.87, or 2 percent, at $97.45. 

The Dow Jones transportation index, a proxy for future economic activity, edged higher, notching its tenth straight increase and its twelfth gain in the past 13 trading days. 

A half-hour after trading began, the National Association of Realtors said that its index of pending home sales fell in December, suggesting that sales of previously occupied homes may slow in the coming months. The report, which was weaker than many economists had expected, helped push stocks lower for much of the morning. They were roughly flat by midday, and spent the afternoon swapping small bumps and dips. 

The Dow closed down 14.05 points, or 0.1 percent, at 13,881.93. The S&P 500 fell 2.78, or 0.2 percent, to 1,500.18. The Nasdaq composite index added 4.59, or 0.2 percent, to 3,154. 

The Dow and the S&P 500 are rapidly approaching their all-time closing highs, reached on Oct. 9, 2007. The Dow is about 282 points below its high of 14,164.53; the S&P 500 is 65 points shy of its record of 1,565. 

Economic data may be less likely to boost the indexes because traders have become harder to impress as the data have strengthened in recent weeks, said Bill Stone, chief investment strategist with PNC Asset Management Group. 

 *The NYSE DOW closed  	LOWER ▼	-14.05	points or ▼	-0.10%	Monday, 28 January 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,881.93	▼	-14.05	▼	-0.10%	
	Nasdaq____	3,154.30	▲	4.59	▲	0.15%	
	S&P_500____	1,500.18	▼	-2.78	▼	-0.18%	
	30_Yr_Bond____	3.150	▲	0.02	▲	0.54%	

NYSE Volume	 3,562,564,750 			 		 	
Nasdaq Volume	 1,868,414,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,294.41	▲	9.96	▲	0.16%	
	DAX_____	7,833.00	▼	-24.97	▼	-0.32%	
	CAC_40__	3,780.89	▲	2.73	▲	0.07%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,858.90	▲	25.10	▲	0.52%	closed for holiday Monday Jan 28
	Shanghai_Comp	2,346.51	▲	55.20	▲	2.41%	
	Taiwan_Weight	7,714.67	▲	42.09	▲	0.55%	
	Nikkei_225____	10,824.31	▼	-102.34	▼	-0.94%	
	Hang_Seng____	23,671.88	▲	53.93	▲	0.39%	
	Strait_Times___	3,273.91	▲	4.60	▲	0.14%	
	NZX_50_Index__	4,204.44	▲	4.62	▲	0.11%	

http://finance.yahoo.com/news/us-stocks-close-mixed-uneven-215248547.html

*US stocks close mixed on uneven economic signals

US stocks close mixed after strong manufacturing signals, disappointing home sales*

By Daniel Wagner, AP Business Writer

U.S. stocks meandered between small gains and losses Monday, cooling off after a rally that had pushed the Standard & Poor's 500 index above 1,500 for the first time since December 2007. Encouraging news about manufacturing provided an early boost, but stocks fell later after a report on the pace of home sales fell short of expectations. 

The government said before trading began that orders for long-lasting goods rose in December by 4.6 percent, helped by a 10 percent gain in orders for new aircraft. The report was a sign of strength for the manufacturing sector, a crucial driver of economic growth. 

Heavy equipment maker Caterpillar said separately that its fourth-quarter net income exceeded analysts' expectations, after adjusting for the cost of a soured deal to buy a Chinese maker of roofing supports for mines. Caterpillar said it took a big charge in the quarter because the Chinese company had misrepresented its finances. 

Caterpillar Inc. said it expects growth in China to improve without regaining the levels seen in 2010 or 2011. The stock was the biggest gainer in the Dow Jones industrial average, closing up $1.87, or 2 percent, at $97.45. 

The Dow Jones transportation index, a proxy for future economic activity, edged higher, notching its tenth straight increase and its twelfth gain in the past 13 trading days. 

A half-hour after trading began, the National Association of Realtors said that its index of pending home sales fell in December, suggesting that sales of previously occupied homes may slow in the coming months. The report, which was weaker than many economists had expected, helped push stocks lower for much of the morning. They were roughly flat by midday, and spent the afternoon swapping small bumps and dips. 

The Dow closed down 14.05 points, or 0.1 percent, at 13,881.93. The S&P 500 fell 2.78, or 0.2 percent, to 1,500.18. The Nasdaq composite index added 4.59, or 0.2 percent, to 3,154. 

The Dow and the S&P 500 are rapidly approaching their all-time closing highs, reached on Oct. 9, 2007. The Dow is about 282 points below its high of 14,164.53; the S&P 500 is 65 points shy of its record of 1,565. 

Economic data may be less likely to boost the indexes because traders have become harder to impress as the data have strengthened in recent weeks, said Bill Stone, chief investment strategist with PNC Asset Management Group. 

"Before, even if you came in just at expectations, that was like a victory," he said. Because of the market's recent upturn, he said, "you get less of a pop for just making the numbers." 

Among companies in the S&P 500 that reported earnings Monday, Biogen Idec Inc. said its fourth-quarter net income slipped nearly 3 percent because of a tax charge and higher expenses. Still, the biotech drug maker rose $3.79, or 2.6 percent, to $149.99. 

Roper Industries Inc., which makes medical and industrial equipment, said its fourth-quarter net income rose 18 percent. But the company issued mixed guidance for the current quarter and full year 2013. It fell 33 cents to $118.50. 

Oil company Hess Inc. was the biggest gainer in the S&P 500, adding 6.1 percent after the company said it plans to sell its U.S. terminal network, shutter its New Jersey refinery and continue shifting its focus to exploration and production. Hess also said that the hedge fund Elliott Associates plans to seek regulatory approval to buy a major stake in the company. Hess rose $3.58 to $62.48. 

Several big tech companies reported their results after the market closed and saw big price swings in after-hours trading: 

”” Web portal Yahoo Inc. rose 81 cents, or 4 percent, to $21.12 after saying its fourth-quarter earnings topped analyst estimates as an upturn in its international investments helped end a three-year revenue slump. 

”” Hard disk maker Seagate Technology PLC said it beat analysts' estimates in its results for the fiscal second quarter ended Dec. 28. It rose 69 cents, or 1.8 percent, to $38.10 after hours. 

”” Cloud computing provider VMWare Inc. said its net income edged higher, but the company announced guidance that was far weaker than analysts had expected. VMWare lost $10.83, or 11 percent, to $87.49 after hours. 

Strong corporate earnings helped push the S&P 500 through the 1,500 milestone Friday after several calm, relatively news-free weeks. In addition to companies' performance, traders have been encouraged by signals that housing market is improving steadily and hiring is picking up, albeit slowly. 

There will plenty of fresh data to drive trading this week, including retail sales, economic growth and the government's report on hiring and employment in January, which is due out Friday. More than one-fifth of the companies in the S&P 500 will report fourth-quarter earnings this week. 

Stone said stocks are trading sideways in part because many investors are awaiting economic reports later this week, especially the employment report. There is agreement among economists and analysts that the economy slowed in the fourth quarter, he said, and this week's numbers will help answer the question of "how slow, and how much did it impact employment." 

The yield in the benchmark 10-year Treasury note rose to 1.97 percent from 1.95 percent late Friday, reflecting lower demand for ultra-safe investments. After Monday's factory orders report, the yield rose briefly above 2 percent for the first time since April. A bond's yield rises as demand for it decreases.


----------



## bigdog

Source: http://finance.yahoo.com 

Pfizer helped keep the stock market rally alive Tuesday. The drugmaker's stock gained after posting strong earnings, pushing the Dow closer to 14,000. 

The Dow Jones industrial average rose 73 points to close at 13,954.42 points, ending higher for the seventh day in eight. The Standard and Poor's 500 also rose, adding eight points to 1,507.84 points. The Nasdaq composite dropped less than a point to 3,153.66. 

The January rally looked as if it was running out of steam yesterday as stocks pulled back from their highs, but Tuesday they resumed their ascent toward record levels. Demand was bolstered at the start of the year after lawmakers reached a deal to avoid the "fiscal cliff" and was sustained by reports that have added to evidence showing the U.S. housing market is recovering and the jobs market is slowly healing. 

The Dow is 6.5 percent higher this month and the S&P 500 is up 5.7 percent. Both indexes are at their highest levels in more than five years. 

Pfizer was the biggest gainer in the Dow, advancing 86 cents, or 3.2 percent, to $27.70 after the company said its fourth-quarter profit more than quadrupled because of a $4.8 billion gain from selling its nutrition business and despite competition from generic drugs hurting sales. Homebuilder D.R. Horton gained $2.51, or 11.8 percent, to $23.82 after it said that net income more than doubled as the housing recovery took hold. Improving home prices and better sales bolstered profits. 

"The earnings season is not stellar, it's not gangbusters, but it's better than last quarter," said Quincy Krosby, a market strategist at Prudential. 

Currently, analysts expect fourth-quarter earnings for 2012 to increase by an average of 4.7 percent for S&P 500 companies, according to the latest data from S&P Capital IQ. That's an improvement on the previous quarter when profit grew by 2.4 percent. 

Valero Energy, a refinery operator, was the biggest gainer in the S&P 500. The company's stock climbed $4.96, or 13 percent, to $43.77 after the company said that fourth-quarter profit soared on higher refining margins, as it swapped out foreign crude for cheaper domestic oil. 

Investor optimism was checked by a report that showed U.S. consumer confidence sank in January to the lowest level in more than a year as Americans fretted about the economic outlook and higher Social Security taxes. The Conference Board said that its consumer confidence index dropped to 58.6 in January, down from a reading of 66.7 in December. 

Stocks also failed to get much of a lift from a report published before the market opened that showed the U.S. housing market is sustaining its recovery. 

 *The NYSE DOW closed  	HIGHER ▲	72.49	points or ▲	0.52%	Tuesday, 29 January 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,954.42	▲	72.49	▲	0.52%	
	Nasdaq____	3,153.66	▼	-0.64	▼	-0.02%	
	S&P_500____	1,507.84	▲	7.66	▲	0.51%	
	30_Yr_Bond____	3.170	▲	0.02	▲	0.57%	

NYSE Volume	 4,198,840,500 			 		 	
Nasdaq Volume	 1,950,812,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,339.19	▲	44.78	▲	0.71%	
	DAX_____	7,848.57	▲	15.57	▲	0.20%	
	CAC_40__	3,785.82	▲	4.93	▲	0.13%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,910.80	▲	51.90	▲	1.07%	
	Shanghai_Comp	2,358.98	▲	12.47	▲	0.53%	
	Taiwan_Weight	7,802.00	▲	87.33	▲	1.13%	
	Nikkei_225____	10,866.72	▲	42.41	▲	0.39%	
	Hang_Seng____	23,655.17	▲	53.93	▼	-0.07%	
	Strait_Times___	3,259.75	▼	-14.16	▼	-0.43%	
	NZX_50_Index__	4,200.29	▼	-4.15	▼	-0.10%	

http://finance.yahoo.com/news/stocks-advance-pushing-dow-toward-192428084.html

*Stocks advance, pushing Dow toward 14,000

Stocks advance, Pfizer earnings push Dow Jones toward 14,000*

By Steve Rothwell, AP Business Writer 

Pfizer helped keep the stock market rally alive Tuesday. The drugmaker's stock gained after posting strong earnings, pushing the Dow closer to 14,000. 

The Dow Jones industrial average rose 73 points to close at 13,954.42 points, ending higher for the seventh day in eight. The Standard and Poor's 500 also rose, adding eight points to 1,507.84 points. The Nasdaq composite dropped less than a point to 3,153.66. 

The January rally looked as if it was running out of steam yesterday as stocks pulled back from their highs, but Tuesday they resumed their ascent toward record levels. Demand was bolstered at the start of the year after lawmakers reached a deal to avoid the "fiscal cliff" and was sustained by reports that have added to evidence showing the U.S. housing market is recovering and the jobs market is slowly healing. 

The Dow is 6.5 percent higher this month and the S&P 500 is up 5.7 percent. Both indexes are at their highest levels in more than five years. 

Pfizer was the biggest gainer in the Dow, advancing 86 cents, or 3.2 percent, to $27.70 after the company said its fourth-quarter profit more than quadrupled because of a $4.8 billion gain from selling its nutrition business and despite competition from generic drugs hurting sales. Homebuilder D.R. Horton gained $2.51, or 11.8 percent, to $23.82 after it said that net income more than doubled as the housing recovery took hold. Improving home prices and better sales bolstered profits. 

"The earnings season is not stellar, it's not gangbusters, but it's better than last quarter," said Quincy Krosby, a market strategist at Prudential. 

Currently, analysts expect fourth-quarter earnings for 2012 to increase by an average of 4.7 percent for S&P 500 companies, according to the latest data from S&P Capital IQ. That's an improvement on the previous quarter when profit grew by 2.4 percent. 

Valero Energy, a refinery operator, was the biggest gainer in the S&P 500. The company's stock climbed $4.96, or 13 percent, to $43.77 after the company said that fourth-quarter profit soared on higher refining margins, as it swapped out foreign crude for cheaper domestic oil. 

Investor optimism was checked by a report that showed U.S. consumer confidence sank in January to the lowest level in more than a year as Americans fretted about the economic outlook and higher Social Security taxes. The Conference Board said that its consumer confidence index dropped to 58.6 in January, down from a reading of 66.7 in December. 

Stocks also failed to get much of a lift from a report published before the market opened that showed the U.S. housing market is sustaining its recovery. 

The Standard & Poor's/Case-Shiller 20-city home price index rose 5.5 percent in November compared with the same month a year ago, pushed higher by rising sales and a tighter supply of available homes. 

"The turnaround in the housing market is for real," said Peter Cardillo, chief market economist at Rockwell Global Capital, who says the decline in consumer confidence will likely prove to be temporary as home prices rise. He predicts that the S&P 500 may climb as high as 1,575 this quarter as investor optimism about the economic recovery grows. 

The Federal Reserve started a two-day meeting Tuesday. Investors will also be looking at the release of their statement Wednesday for clues about the outlook for the economy and interest rates. 

The yield on the 10-year Treasury note rose by four basis points to 2 percent. The yield, which moves inversely to its price, is at its highest level since April. 

Other stocks in the news; 

”” Ford fell 64 cents, or 4.6 percent, to $13.14 despite reporting earnings that beat analysts' estimates. The automaker said that its losses in Europe would be bigger than it had previously forecast. The company's stock has advanced 49 percent in the last six months. 

”” Seagate Technology, which makes hard disk drives for storage, fell $3.50, or 9.4 percent, to $33.91 after it reported a 13 percent drop in profits as expenses outpaced revenue growth. 

”” Software company VMware fell $21.18 to $77.14 after it said that it late Monday that it expects first-quarter revenue to come in lower than Wall Street analysts had forecast. The company is also cutting 900 jobs, or about 7 percent of its workforce. 

”” Eli Lilly rose $1.68, or 3.2 percent, to $54.32 after the drugmaker cut expenses, helping it beat analysts' expectations. The company's earnings slipped 4 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

A reminder that the U.S. economy still remains a long way from being fully healed after the Great Recession put the brakes on a January rally that has pushed stocks close to record levels. The Standard & Poor's 500 logged its biggest drop of the year. 

Stocks started the day lower after a report showed that the U.S. economy unexpectedly contracted in the fourth quarter. That decline extended after the Federal Reserve said that it would continue its bond-buying program to boost growth. 

The Dow Jones industrial average fell 44 points, or 0.3 percent, to close at 13,910.42, logging only its second decline in nine days. The Standard & Poor's 500 fell 6 points, or 0.4 percent, to 1,501.96, its biggest decline since Dec. 28. The Nasdaq composite fell 11 points to 3,142.31. 

The U.S. economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles, the Commerce Department said Wednesday. 

The Fed acknowledged that the economy is still struggling to regain momentum, in a statement it released Wednesday afternoon following its two-day meeting, saying that growth had "paused in recent months." The central bank took no new action and said it would keep buying $85 billion of bonds a month as part of its plan to keep borrowing costs low to spur growth. 

"The Fed didn't really say anything out of the ordinary, so you got the reaction you should've had in the morning," said Joe Saluzzi a co-founder at brokerage firm Themis Trading. "When you've spent this much money trying to prop up an economy and you still come up with a negative print, that's bad news." 

Still, stocks remain on track for a great January. 

The Dow Jones average has surged 6.2 percent since the start of the year, climbing close to 14,000 and within touching distance of its record level. The S&P 500 has gained 5.3 percent this month, close to its highest level in more than five years. Investors bought stocks after lawmakers reached a deal to avoid the "fiscal cliff" and on optimism the U.S. housing market is recovering and the jobs market is slowly healing. 

U.S. gross domestic product, the volume of all goods and services produced, contracted at an annual rate of 0.1 percent in the fourth quarter. That's a sharp slowdown from the 3.1 percent growth rate in the July-September quarter. 

"To ignore this is folly," said Doug Cote, chief market strategist at ING Investment Management. "Certainly, this market could continue to move forward, but ignoring the fundamentals is not something I'd counsel my clients to do." 

Positive company earnings reports helped offset the disappointing news about the economy and stem a bigger decline. 

 *The NYSE DOW closed  	LOWER ▼	-44.00	points or ▼	-0.32%	Wednesday, 30 January 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,910.42	▼	-44.00	▼	-0.32%	
	Nasdaq____	3,142.31	▼	-11.35	▼	-0.36%	
	S&P_500____	1,501.96	▼	-5.88	▼	-0.39%	
	30_Yr_Bond____	3.200	▲	0.03	▲	0.88%	

NYSE Volume	 4,020,228,750 			 		 	
Nasdaq Volume	 2,013,779,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,323.11	▼	-16.08	▼	-0.25%	
	DAX_____	7,811.31	▼	-37.26	▼	-0.47%	
	CAC_40__	3,765.52	▼	-20.30	▼	-0.54%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,919.10	▲	8.30	▲	0.17%	
	Shanghai_Comp	2,382.47	▲	23.50	▲	1.00%	
	Taiwan_Weight	7,832.98	▲	30.98	▲	0.40%	
	Nikkei_225____	11,113.95	▲	247.23	▲	2.28%	
	Hang_Seng____	23,822.06	▲	53.93	▲	0.71%	
	Strait_Times___	3,282.04	▲	22.29	▲	0.68%	
	NZX_50_Index__	4,247.55	▲	47.26	▲	1.13%	

http://finance.yahoo.com/news/stocks-drop-economy-put-brakes-220339170.html

*Stocks drop as economy put brakes on stock rally

Stocks drop as GDP report, Fed remind investors that economy still has way to go for recovery*

By Steve Rothwell, AP Business Writer 

A reminder that the U.S. economy still remains a long way from being fully healed after the Great Recession put the brakes on a January rally that has pushed stocks close to record levels. The Standard & Poor's 500 logged its biggest drop of the year. 

Stocks started the day lower after a report showed that the U.S. economy unexpectedly contracted in the fourth quarter. That decline extended after the Federal Reserve said that it would continue its bond-buying program to boost growth. 

The Dow Jones industrial average fell 44 points, or 0.3 percent, to close at 13,910.42, logging only its second decline in nine days. The Standard & Poor's 500 fell 6 points, or 0.4 percent, to 1,501.96, its biggest decline since Dec. 28. The Nasdaq composite fell 11 points to 3,142.31. 

The U.S. economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles, the Commerce Department said Wednesday. 

The Fed acknowledged that the economy is still struggling to regain momentum, in a statement it released Wednesday afternoon following its two-day meeting, saying that growth had "paused in recent months." The central bank took no new action and said it would keep buying $85 billion of bonds a month as part of its plan to keep borrowing costs low to spur growth. 

"The Fed didn't really say anything out of the ordinary, so you got the reaction you should've had in the morning," said Joe Saluzzi a co-founder at brokerage firm Themis Trading. "When you've spent this much money trying to prop up an economy and you still come up with a negative print, that's bad news." 

Still, stocks remain on track for a great January. 

The Dow Jones average has surged 6.2 percent since the start of the year, climbing close to 14,000 and within touching distance of its record level. The S&P 500 has gained 5.3 percent this month, close to its highest level in more than five years. Investors bought stocks after lawmakers reached a deal to avoid the "fiscal cliff" and on optimism the U.S. housing market is recovering and the jobs market is slowly healing. 

U.S. gross domestic product, the volume of all goods and services produced, contracted at an annual rate of 0.1 percent in the fourth quarter. That's a sharp slowdown from the 3.1 percent growth rate in the July-September quarter. 

"To ignore this is folly," said Doug Cote, chief market strategist at ING Investment Management. "Certainly, this market could continue to move forward, but ignoring the fundamentals is not something I'd counsel my clients to do." 

Positive company earnings reports helped offset the disappointing news about the economy and stem a bigger decline. 

Amazon jumped $12.41, or 4.8 percent, to $272.76 after the world's biggest online retailer showed improving profit margins when it posted fourth-quarter earnings late Tuesday. Boeing, currently scrambling to fix battery problems that have grounded its 787 Dreamliner planes, gained 94 cents, or 1.3 percent, to $74.59 after it reported earnings that beat analysts' expectations. Rising profits from commercial jets offset a smaller profit from defense work. 

A private survey showed Wednesday that U.S. businesses increased hiring in January compared with a revised December reading. Payroll processor ADP said that employers added 192,000 jobs in January. 

Traders and investors will now turn their focus back on to company earnings and Friday's nonfarm employment report. 

The yield on the 10-year Treasury note, which moves inversely to its price, fell 1 basis point to 1.99 percent. 

Among other stocks making big moves Wednesday: 

”” Chesapeake Energy rose $1.14, or 6 percent, to $20.11 after the company said late Tuesday that its embattled CEO Aubrey McClendon will leave the company this spring. 

”” Avery Dennison, a packing materials company, rose $2.30, or 6.4 percent, to $38.44 after it posted fourth-quarter earnings that beat analysts' expectations and said it was selling two of its business units to CCL industries for $500 million. The company will use the proceeds of the sale to buy back stock and make additional pension contributions. 

”” Copano Energy, a natural energy company, rose $4.90, or 14.8 percent, to $38.03 after the company said that it had agreed to be acquired by Kinder Morgan Energy Partners for about $3.2 billion in stock. 

”” MeadWestvaco, a packaging company, fell $1.30, or 3.9 percent, to $31.63 after the company reported earnings that fell short of analysts' expectations.


----------



## bigdog

Source: http://finance.yahoo.com 

The Dow logged its best start to the year in almost two decades. 

Stocks rallied in the first week of the year after U.S. lawmakers reached a deal to avoid the "fiscal cliff," and then pushed higher toward record levels as optimism about the housing market recovery grew. Decent company earnings for the fourth quarter and an improving job market also helped lift markets. 

The Dow Jones industrial average ended the month up 5.8 percent, its strongest January since 1994, according to S&P Capital IQ data. The Standard & Poor's 500 finished the month 5 percent higher, its best start to the year since 1997. 

"There's not a whole lot of bears left here," said Jeff Hirsch, the editor of the Stock Trader's Almanac, adding that the market may struggle to gain further in February. 

Stocks have also benefited as investors have put money into equities in January. By one measure, the monthly flow into stock funds was the largest in nine years. 

About $51 billion in net deposits was moved into stock funds and so-called hybrid funds, which invest in a mix of stocks and bonds, consultant Strategic Insight said Thursday. That's the most since $56 billion flowed in during January 2004. 

On Thursday, stocks drifted lower as investors digested more earnings results and reports on the economy. 

The Dow Jones industrial average fell 49 points to 13,860.58. The S&P 500 dropped 4 points to 1,498.11 and the Nasdaq composite was little changed at 3,142.13. 

The Dow is just 304 points from its all-time high. 

Among companies reporting earnings Thursday, UPS Inc., the world's biggest package-delivery company and an economic bellwether, fell 2.4 percent to $79.29. The company's fourth quarter was hurt by weak global trade, and it forecast 2013 results below expectations. 

January's rally started to slow Wednesday after a report showed that the economy unexpectedly contracted in the fourth quarter of last year. 

Stocks have gained against a backdrop of low borrowing costs and a slow, but steady, economic recovery. However, the market may struggle to build on those gains in the immediate future as traders and investors turn their attention back to Washington, said Ernie Cecilia, chief investment officer at Bryn Mawr Trust. 

 *The NYSE DOW closed  	LOWER ▼	-49.84	points or ▼	-0.36%	Thursday, 31 January 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,860.58	▼	-49.84	▼	-0.36%	
	Nasdaq____	3,142.13	▼	-0.18	▼	-0.01%	
	S&P_500____	1,498.11	▼	-3.85	▼	-0.26%	
	30_Yr_Bond____	3.170	▼	-0.03	▼	-0.81%	

NYSE Volume	 4,227,457,500 			 		 	
Nasdaq Volume	 2,199,718,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,276.88	▼	-46.23	▼	-0.73%	
	DAX_____	7,776.05	▼	-35.26	▼	-0.45%	
	CAC_40__	3,732.60	▼	-32.92	▼	-0.87%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,901.00	▼	-18.10	▼	-0.37%	
	Shanghai_Comp	2,385.42	▲	2.95	▲	0.12%	
	Taiwan_Weight	7,850.02	▲	17.04	▲	0.22%	
	Nikkei_225____	11,138.66	▲	24.71	▲	0.22%	
	Hang_Seng____	23,729.53	▲	53.93	▼	-0.39%	
	Strait_Times___	3,280.39	▼	-5.51	▼	-0.17%	
	NZX_50_Index__	4,252.65	▲	5.10	▲	0.12%	

http://finance.yahoo.com/news/dow-logs-best-january-nearly-222339081.html

*Dow logs best January in nearly 2 decades

Stocks drift lower, but Dow still logs best January in almost 2 decades*

By Steve Rothwell, AP Business Writer

The Dow logged its best start to the year in almost two decades. 

Stocks rallied in the first week of the year after U.S. lawmakers reached a deal to avoid the "fiscal cliff," and then pushed higher toward record levels as optimism about the housing market recovery grew. Decent company earnings for the fourth quarter and an improving job market also helped lift markets. 

The Dow Jones industrial average ended the month up 5.8 percent, its strongest January since 1994, according to S&P Capital IQ data. The Standard & Poor's 500 finished the month 5 percent higher, its best start to the year since 1997. 

"There's not a whole lot of bears left here," said Jeff Hirsch, the editor of the Stock Trader's Almanac, adding that the market may struggle to gain further in February. 

Stocks have also benefited as investors have put money into equities in January. By one measure, the monthly flow into stock funds was the largest in nine years. 

About $51 billion in net deposits was moved into stock funds and so-called hybrid funds, which invest in a mix of stocks and bonds, consultant Strategic Insight said Thursday. That's the most since $56 billion flowed in during January 2004. 

On Thursday, stocks drifted lower as investors digested more earnings results and reports on the economy. 

The Dow Jones industrial average fell 49 points to 13,860.58. The S&P 500 dropped 4 points to 1,498.11 and the Nasdaq composite was little changed at 3,142.13. 

The Dow is just 304 points from its all-time high. 

Among companies reporting earnings Thursday, UPS Inc., the world's biggest package-delivery company and an economic bellwether, fell 2.4 percent to $79.29. The company's fourth quarter was hurt by weak global trade, and it forecast 2013 results below expectations. 

January's rally started to slow Wednesday after a report showed that the economy unexpectedly contracted in the fourth quarter of last year. 

Stocks have gained against a backdrop of low borrowing costs and a slow, but steady, economic recovery. However, the market may struggle to build on those gains in the immediate future as traders and investors turn their attention back to Washington, said Ernie Cecilia, chief investment officer at Bryn Mawr Trust. 

The budget deal struck at the start of the year dealt with taxes, but across-the-board spending cuts were pushed back from Jan. 1 to March 1. While a showdown over the nation's borrowing limits appears to have been put off, lawmakers have yet to agree on how best to reduce government spending. Those negotiations could be protracted and increase stock market volatility, said Cecilia. 

More government reports Thursday also gave investors a better picture of the health of the economy. 

The number of Americans seeking unemployment aid rose sharply last week but remained at a level consistent with moderate hiring. 

Investors will look for further clues about the strength of the jobs market Friday, when the closely followed monthly nonfarm payrolls report is published. 

The yield on the 10-year Treasury note, which moves inversely to its price, was little changed at 1.99 percent. 

Among other stocks making big moves: 

”” Under Armour gained $2.74, or 5.7 percent, to $50.87, after the company said its fourth-quarter earnings jumped 10 percent and the clothing company predicted revenue growth of at least 20 percent in each of the next two years. 

”” CononcoPhillips fell $3.09, or 5.1 percent, to $58 after the oil company said earnings fell as prices for oil and natural gas declined. The Houston-based company also said 2013 production would decline. 

”” JDS Uniphase added $2.11, or 17 percent, to $14.51 after the technology company reported stronger-than-expected earnings on improved revenue and margins late Wednesday. 

”” Constellation Brands slid $6.81, or 17.4 percent, to $32.36 after the Justice Department sued to stop Anheuser-Busch InBev's proposed $20.1 billion purchase of Mexican brewer Grupo Modelo, which would unite the ownership of popular beers like Budweiser and Corona. Constellation, a liquor and wine producer, was set to expand as part of a side deal in the merger. 

”” Qualcomm Inc., a maker of chips for mobile devices, rose 3.9 percent to $66.02 after it said late on Wednesday that its earnings surged. Its revenue was boosted by growing global demand for smartphones.


----------



## bigdog

Source: http://finance.yahoo.com 

The Dow closed above 14,000 on Friday for the first time in more than five years. 

It was just a number on a board, but it was enough to raise the hopes of some investors and cause others concern about an overheated market. And it brought reminders of a different era, back before the financial crisis rocked the world economy. 

The Dow Jones industrial average, a stock market index that is traditionally considered a benchmark for how the entire market is faring, had been rising fairly steadily for about a month. On Friday, strong auto sales and optimism about U.S. job growth pushed it over the mark. The Dow is now just 155 points away from its record close. 

"There's a newfound enthusiasm for the equity market," said Jim Russell, regional investment director at U.S. Bank Wealth Management in Minneapolis. 

But market watchers were divided over what the Dow milestone ”” or even what a potential new all-time high ”” really means. To some, it's an important booster to hearts and minds, making investors feel optimistic and thus more willing to bet on the market. 

"The Dow touching 14,000, it matters psychologically," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York. "It attracts smaller investors." 

And those investors, until recently, had been shying away from stocks. Since April 2011, investors have pulled more cash out of U.S. stock mutual funds than they've put in, according to the Investment Company Institute. In the past three weeks, though, that trend has reversed, which could make January the first month in nearly two years where stock-focused funds had a net inflow. 

To others, though, Dow 14,000 is nothing but a number, a sign more of how traders feel than of the economy. And it's not even the best number on the board, some traders say. Professional investors usually pay more heed to the Standard & Poor's main index, which tracks 500 companies compared to the Dow's 30. The Dow garners attention, they say, because it's more familiar to the general public. 

Joe Gordon, managing partner at Gordon Asset Management in North Carolina, wasn't celebrating Friday. He thinks the gains won't last. The fact that small investors are finally piling back in the stock market, he said, is not a reason for optimism but a sign that it's getting overhyped and due to fall. 

After the Dow hit its all-time record in 2007, it fell almost steadily for the next year and a half. It lost more than half its value before starting to tick back up again. 

"It is good trivia to talk about on television and the radio," Gordon said, referring to the 14,000 mark. "It's meaningless to the average professional." And for workers still unemployed by the financial crisis, he said, "it really means nothing to them." 

If there is dissent over what Dow 14,000 signifies, what's undeniable is that it's a rarefied event. Before Friday, the Dow had closed above 14,000 just nine times in its history. The first time was in July 2007; the rest were in October of that year. 

The last time the Dow closed that mark was Oct. 12, 2007, when it settled at 14,093.08. It had reached its all-time record, 14,164.53, three days before that. 

 *The NYSE DOW closed  	HIGHER ▲	144.07	points or ▲	1.04%	Friday, 1 February 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,004.65	▲	144.07	▲	1.04%	
	Nasdaq____	3,176.20	▲	34.07	▲	1.08%	
	S&P_500____	1,512.11	▲	14.00	▲	0.93%	
	30_Yr_Bond____	3.210	▲	0.04	▲	1.20%	

NYSE Volume	 3,399,985,500 			 		 	
Nasdaq Volume	 1,683,228,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,347.24	▲	70.36	▲	1.12%	
	DAX_____	7,833.39	▲	57.34	▲	0.74%	
	CAC_40__	3,773.53	▲	40.93	▲	1.10%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,941.90	▲	40.90	▲	0.83%	
	Shanghai_Comp	2,419.02	▲	33.60	▲	1.41%	
	Taiwan_Weight	7,855.97	▲	5.95	▲	0.08%	
	Nikkei_225____	11,191.34	▲	52.68	▲	0.47%	
	Hang_Seng____	23,721.84	▲	53.93	▼	-0.03%	
	Strait_Times___	3,291.14	▲	8.48	▲	0.26%	
	NZX_50_Index__	4,245.93	▼	-6.71	▼	-0.16%	

http://finance.yahoo.com/news/dow-ends-above-14-000-212814328.html

*Dow ends above 14,000 for 1st time since Oct. 2007

Jobs report pushes stocks higher, with Dow closing above 14,000 mark*

By Christina Rexrode, Associated Press

The Dow closed above 14,000 on Friday for the first time in more than five years. 

It was just a number on a board, but it was enough to raise the hopes of some investors and cause others concern about an overheated market. And it brought reminders of a different era, back before the financial crisis rocked the world economy. 

The Dow Jones industrial average, a stock market index that is traditionally considered a benchmark for how the entire market is faring, had been rising fairly steadily for about a month. On Friday, strong auto sales and optimism about U.S. job growth pushed it over the mark. The Dow is now just 155 points away from its record close. 

"There's a newfound enthusiasm for the equity market," said Jim Russell, regional investment director at U.S. Bank Wealth Management in Minneapolis. 

But market watchers were divided over what the Dow milestone ”” or even what a potential new all-time high ”” really means. To some, it's an important booster to hearts and minds, making investors feel optimistic and thus more willing to bet on the market. 

"The Dow touching 14,000, it matters psychologically," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York. "It attracts smaller investors." 

And those investors, until recently, had been shying away from stocks. Since April 2011, investors have pulled more cash out of U.S. stock mutual funds than they've put in, according to the Investment Company Institute. In the past three weeks, though, that trend has reversed, which could make January the first month in nearly two years where stock-focused funds had a net inflow. 

To others, though, Dow 14,000 is nothing but a number, a sign more of how traders feel than of the economy. And it's not even the best number on the board, some traders say. Professional investors usually pay more heed to the Standard & Poor's main index, which tracks 500 companies compared to the Dow's 30. The Dow garners attention, they say, because it's more familiar to the general public. 

Joe Gordon, managing partner at Gordon Asset Management in North Carolina, wasn't celebrating Friday. He thinks the gains won't last. The fact that small investors are finally piling back in the stock market, he said, is not a reason for optimism but a sign that it's getting overhyped and due to fall. 

After the Dow hit its all-time record in 2007, it fell almost steadily for the next year and a half. It lost more than half its value before starting to tick back up again. 

"It is good trivia to talk about on television and the radio," Gordon said, referring to the 14,000 mark. "It's meaningless to the average professional." And for workers still unemployed by the financial crisis, he said, "it really means nothing to them." 

If there is dissent over what Dow 14,000 signifies, what's undeniable is that it's a rarefied event. Before Friday, the Dow had closed above 14,000 just nine times in its history. The first time was in July 2007; the rest were in October of that year. 

The last time the Dow closed that mark was Oct. 12, 2007, when it settled at 14,093.08. It had reached its all-time record, 14,164.53, three days before that. 

For the average investor, that was all back when the stock market still seemed like a party. Housing prices were starting to ebb but hadn't cratered. Jobs were abundant, with unemployment at 4.7 percent ”” compared to 7.9 percent now. Lehman Brothers still existed. So did Bear Stearns, Wachovia and Washington Mutual. 

The Dow ended Friday 149.21 points higher to 14,009.79. The other indexes were also up. The S&P 500 rose 15.06 to 1,513.17. The Nasdaq composite index was up 36.97 to 3,179.10. 

Auto sales helped. Toyota, Ford, GM and Chrysler all reported double-digit gains for January. 

The government jobs report that pushed stocks forward was mixed, but traders chose to focus on the positive. The U.S. said it added 157,000 jobs in January, which was in line with expectations. Unemployment inched up to 7.9 percent from 7.8 percent in December. Many economists, though, were encouraged because the government now says that hiring over the past year was higher than originally thought. 

The jobs number is based on a survey of employers. The unemployment rate is based on a separate survey of households, which is why they can diverge. 

Among stocks making big moves: 

””Drugmaker Merck fell more than 3 percent, down $1.42 to $41.83. Its fourth-quarter profit suffered because of competition from generic medicines against its blockbuster allergy drug Singulair. 

”” Insurance company MetLife rose more than 2 percent, up 86 cents to $38.20, after saying it plans to buy the largest private pension fund administrator in Chile. 

”” Zoetis, an animal health business that Pfizer just spun off, made its debut on the stock market. It shot up 19 percent, rising $5.01 to $31.01.

4093


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks hit a big milestone, then promptly spun off the road. 

Major indexes dived the most this year Monday, the first trading day after the Dow broke 14,000 and closed at its highest level since the financial crisis. 

The Dow Jones industrial average dropped as much as 143 points in afternoon trading. It closed down 129.71, or 0.9 percent, at 13,880.08. 

The Standard & Poor's 500 index fell 17.46 points, or 1.2 percent, to 1,495.71. The Nasdaq composite index lost 47.93, or 1.5 percent, to 3,131.17. 

Monday's declines were the biggest drops this year for all three indexes. They followed a surge Friday that pushed the Dow over 14,000 for the first time since 2007, before the financial meltdown that routed world markets. 

Friday was only the tenth time in its history that the Dow closed above 14,000. The first was in July 2007; the rest were in October of that year. The index closed Friday just 155 points shy of its record high, set that October. 

The rally was powered by solid economic data, including a January jobs report that showed the labor market is strengthening gradually. A broad measure of manufacturing also rose sharply. 

The Dow is up nearly 6 percent this year. Yet Wall Street's celebratory mood was a distant memory Monday, as U.S. stocks followed European markets lower. France's CAC-40 closed down 3 percent, Germany's DAX 2.5 percent. 

"It started to look like things in the market are maybe getting a little ahead of themselves, compared to some of the data we've seen," said Bill Stone, chief investment strategist at PNC Asset Management Group. He said problems in Europe are also beginning to affect U.S. markets after several quiet months. 

Borrowing costs for Italy and Spain rose Monday, Stone noted, reflecting concerns among bond investors that those countries may be unable to meet their financial obligations. 

"It kind of restarts some of the old worries that we've been able to ignore for quite some time," Stone said. 

 *The NYSE DOW closed  	LOWER ▼	-129.71	points or ▼	-0.93%	Monday, 4 February 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,880.08	▼	-129.71	▼	-0.93%	
	Nasdaq____	3,131.17	▼	-47.93	▼	-1.51%	
	S&P_500____	1,495.71	▼	-17.46	▼	-1.15%	
	30_Yr_Bond____	3.180	▼	-0.03	▼	-0.97%	

NYSE Volume	 3,679,687,000 			 		 	
Nasdaq Volume	 1,869,409,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,246.84	▼	-100.40	▼	-1.58%	
	DAX_____	7,638.23	▼	-195.16	▼	-2.49%	
	CAC_40__	3,659.91	▼	-113.62	▼	-3.01%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,929.10	▼	-12.80	▼	-0.26%	
	Shanghai_Comp	2,428.15	▲	9.13	▲	0.38%	
	Taiwan_Weight	7,923.16	▲	67.19	▲	0.86%	
	Nikkei_225____	11,260.35	▲	69.01	▲	0.62%	
	Hang_Seng____	23,685.01	▲	53.93	▼	-0.16%	
	Strait_Times___	3,297.37	▲	6.23	▲	0.19%	
	NZX_50_Index__	4,246.40	▲	0.47	▲	0.01%	

http://finance.yahoo.com/news/us-stocks-close-down-dows-214457446.html
*
US stocks close down after Dow's rally to 14,000

US stocks stumble on first trading day after Dow Jones industrial average's rally to 14,000*

By Daniel Wagner, AP Business Writer 

Stocks hit a big milestone, then promptly spun off the road. 

Major indexes dived the most this year Monday, the first trading day after the Dow broke 14,000 and closed at its highest level since the financial crisis. 

The Dow Jones industrial average dropped as much as 143 points in afternoon trading. It closed down 129.71, or 0.9 percent, at 13,880.08. 

The Standard & Poor's 500 index fell 17.46 points, or 1.2 percent, to 1,495.71. The Nasdaq composite index lost 47.93, or 1.5 percent, to 3,131.17. 

Monday's declines were the biggest drops this year for all three indexes. They followed a surge Friday that pushed the Dow over 14,000 for the first time since 2007, before the financial meltdown that routed world markets. 

Friday was only the tenth time in its history that the Dow closed above 14,000. The first was in July 2007; the rest were in October of that year. The index closed Friday just 155 points shy of its record high, set that October. 

The rally was powered by solid economic data, including a January jobs report that showed the labor market is strengthening gradually. A broad measure of manufacturing also rose sharply. 

The Dow is up nearly 6 percent this year. Yet Wall Street's celebratory mood was a distant memory Monday, as U.S. stocks followed European markets lower. France's CAC-40 closed down 3 percent, Germany's DAX 2.5 percent. 

"It started to look like things in the market are maybe getting a little ahead of themselves, compared to some of the data we've seen," said Bill Stone, chief investment strategist at PNC Asset Management Group. He said problems in Europe are also beginning to affect U.S. markets after several quiet months. 

Borrowing costs for Italy and Spain rose Monday, Stone noted, reflecting concerns among bond investors that those countries may be unable to meet their financial obligations. 

"It kind of restarts some of the old worries that we've been able to ignore for quite some time," Stone said. 

In New York, Merck & Co. was among the Dow's biggest losers, dropping 98 cents, or 2.3 percent, to $40.85. The pharmaceutical company said Friday that its earnings declined in the fourth quarter and 2013 might be weaker than analysts had hoped. 

Boeing was the only rising stock among the 30 in the Dow. 

Corporate earnings reports continue this week. Health insurer Humana leapt $3.51, or 4.7 percent, to $78.86 after its results beat Wall Street's forecasts. 

Cruise operator Royal Caribbean fell after reporting a quarterly loss related to its Spanish cruise line, Pullmantur. Prices and bookings have plunged since the Spanish government imposed strict austerity measures, limiting Spaniards' ability to spend. Royal Caribbean shares dropped $1.26, or 3.4 percent, to $35.53. 

Media company Gannett Co Inc. fell $1.33, or 6.7 percent, to $18.51. Gannett's earnings beat Wall Street's expectations, but the company warned that its TV ad revenue will be hurt this quarter by the absence of $5.1 million in political spending and the move of the Super Bowl from NBC to CBS. 

Among other companies making big moves was network gear maker Acme Packet Inc., which surged $5.66, or 23.7 percent, to $29.59 after Oracle said it would acquire the company for $2.1 billion. 

McGraw-Hill Cos. plunged $8.04, or 13.8 percent, to $50.30 after midday news reports that the Justice Department plans to file civil charges against the company's Standard & Poor's credit rating unit. The government charges are expected to question S&P's high ratings of mortgage bonds that helped fuel the financial crisis. 

Moody's Corp., another rating agency, followed McGraw-Hill down, even though there is no evidence that the government will charge that company. Moody's closed down $5.90, or 10.7 percent, at $49.45. 

The two rating agencies had the biggest percentage declines in the S&P 500 index. 

In Europe, political jitters about Spain and Italy pushed stocks lower. Some indexes had their worst day in months. 

Concerns over Europe's debt crisis have eased since last summer, in part because of efforts by the Spanish and Italian governments to get their finances under control. 

An upcoming election in Italy places some of those reforms in doubt. The Spanish government, meanwhile, is embroiled in a corruption scandal that's raising questions over the future of Prime Minister Mariano Rajoy. 

The euro fell to $1.3512. The yield on the 10-year Treasury note fell to 1.96 percent from 2.05 percent earlier Monday as demand for ultra-safe assets increased. 

Oil prices drifted lower. Crude fell $1.60 to $96.17 a barrel in New York.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market bounced back Tuesday following a surge in U.S. home prices and signs of recovery in Europe's economy. Strong earnings reports also helped power the gains. 

The Dow Jones industrial average ended the day 99.22 points higher at 13,979.30, erasing a large part of its loss from Monday. The index traded above 14,000 during the day before falling back in the last hour. 

The Standard & Poor's 500 gained 15.59 points to 1,511.29. The Nasdaq composite was up 40.41 points to 3,171.58. 

The rise follows two days of whiplash. On Monday, the Dow dropped 129 points, its worst sell-off of the year so far, as fears about Europe's finances resurfaced. On Friday, the index gained 149 points, closing above 14,000 for the first time since 2007. The Dow is now 185 points below the record high of 14,164 it reached on Oct. 9, 2007. 

After strong gains for stocks this year, investors are wondering whether they should sell now, or wait and see if the rally still has legs, said Brad Reynolds, chief investment officer at LJPR, Inc. 

"The market is extremely skittish right now, that's why we're seeing such big moves," said Reynolds. 

Tuesday's advance was driven by new data showing that U.S. home prices rose in December at the fastest pace in more than six years. CoreLogic, a real estate data provider, reported that home prices rose 8.3 percent. In Europe, a measure of manufacturing and service businesses rose to a 10-month high January. 

Estee Lauder rose $3.66, or 6 percent, to $64.71 after reporting earnings that beat analysts' expectations. Profits surged 13 percent at the beauty products company as sales in the U.S. and emerging markets rose. Computer Sciences Corp., an information technology services company, was the biggest gainer in the S&P 500. CSC rose $3.84, or 9.2 percent, to $45.75 after the company said it was raising its earnings outlook for the year because its cost-cutting efforts were yielding better results than it had expected. 

Stocks have gotten off to a strong start this year. The Dow advanced 5.8 percent in January, its best start to the year since 1994, according to data compiled to S&P Dow Jones indices. The S&P 500 rose 5 percent last month. 

 *The NYSE DOW closed  	HIGHER ▲	99.22	points or ▲	0.71%	Tuesday, 5 February 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,979.30	▲	99.22	▲	0.71%	
	Nasdaq____	3,171.58	▲	40.41	▲	1.29%	
	S&P_500____	1,511.29	▲	15.58	▲	1.04%	
	30_Yr_Bond____	3.220	▲	0.04	▲	1.38%	

NYSE Volume	 3,859,714,750 			 		 	
Nasdaq Volume	 2,149,433,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,282.76	▲	35.92	▲	0.58%	
	DAX_____	7,664.66	▲	26.43	▲	0.35%	
	CAC_40__	3,694.70	▲	34.79	▲	0.95%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,902.60	▼	-26.50	▼	-0.54%	
	Shanghai_Comp	2,433.13	▲	4.98	▲	0.20%	
	Taiwan_Weight	7,886.94	▼	-36.22	▼	-0.46%	
	Nikkei_225____	11,046.92	▼	-213.43	▼	-1.90%	
	Hang_Seng____	23,148.53	▲	53.93	▼	-2.27%	
	Strait_Times___	3,272.66	▼	-24.71	▼	-0.75%	
	NZX_50_Index__	4,211.95	▼	-34.46	▼	-0.81%	

http://finance.yahoo.com/news/stocks-rebound-home-prices-earnings-210917994.html

*Stocks rebound on home prices, earnings; Dow up 99

Stocks rebound on Wall Street, driven by a surge in home prices and strong earnings reports*

By Christina Rexrode and Steve Rothwell

The stock market bounced back Tuesday following a surge in U.S. home prices and signs of recovery in Europe's economy. Strong earnings reports also helped power the gains. 

The Dow Jones industrial average ended the day 99.22 points higher at 13,979.30, erasing a large part of its loss from Monday. The index traded above 14,000 during the day before falling back in the last hour. 

The Standard & Poor's 500 gained 15.59 points to 1,511.29. The Nasdaq composite was up 40.41 points to 3,171.58. 

The rise follows two days of whiplash. On Monday, the Dow dropped 129 points, its worst sell-off of the year so far, as fears about Europe's finances resurfaced. On Friday, the index gained 149 points, closing above 14,000 for the first time since 2007. The Dow is now 185 points below the record high of 14,164 it reached on Oct. 9, 2007. 

After strong gains for stocks this year, investors are wondering whether they should sell now, or wait and see if the rally still has legs, said Brad Reynolds, chief investment officer at LJPR, Inc. 

"The market is extremely skittish right now, that's why we're seeing such big moves," said Reynolds. 

Tuesday's advance was driven by new data showing that U.S. home prices rose in December at the fastest pace in more than six years. CoreLogic, a real estate data provider, reported that home prices rose 8.3 percent. In Europe, a measure of manufacturing and service businesses rose to a 10-month high January. 

Estee Lauder rose $3.66, or 6 percent, to $64.71 after reporting earnings that beat analysts' expectations. Profits surged 13 percent at the beauty products company as sales in the U.S. and emerging markets rose. Computer Sciences Corp., an information technology services company, was the biggest gainer in the S&P 500. CSC rose $3.84, or 9.2 percent, to $45.75 after the company said it was raising its earnings outlook for the year because its cost-cutting efforts were yielding better results than it had expected. 

Stocks have gotten off to a strong start this year. The Dow advanced 5.8 percent in January, its best start to the year since 1994, according to data compiled to S&P Dow Jones indices. The S&P 500 rose 5 percent last month. 

Lance Roberts, chief economist at Streettalk Advisors in Houston, Texas, said that's related more to the Federal Reserve's commitment to keep money cheap than to companies' performance. If earnings are beating estimates, he said, it's largely because expectations were so low. 

"If you lower the hurdles enough, companies can get over them," Roberts said. 

The fact that individual investors are starting to return to stocks, as they have in recent weeks, is another sign that the market is due for a correction, Roberts and other analysts have said. 

McGraw-Hill Cos., parent of the Standard & Poor's ratings agency, fell $5.38, or 10.7 percent, to $44.92, after the federal government sued S&P. The government said that S&P knowingly misled investors about the quality of the mortgage-backed securities it was rating in the run-up to the financial crisis that caused the Great Recession. The stock dropped 14 percent on Monday after early reports about the lawsuit leaked out. 

Traders sold bonds as they moved money into stocks. The yield on the 10-year Treasury note, which moves inversely to its price, climbed four basis points to 2 percent. 

Other stocks making big moves; 

”” Cereal maker Kellogg gained 40 cents, or 0.7 percent, to $58.50, after reporting fourth-quarter results. It booked a loss because of a pension-related charge, but underlying earnings rose, helped partly by the company's recent purchase of Pringles chips. 

”” Dell, the struggling computer giant, rose 15 cents, or 1.1 percent, to $13.47 after the company announced a $24.4 billion buyout deal led by founder Michael Dell that will take the company private at $13.65 a share. 

”” Yum Brands, parent of KFC, Pizza Hut and Taco Bell, fell $1.86, or 2.9 percent, to $62.08 after the company warned late Monday that 2013 profits could decline as it continues to reel from a controversy over its chicken suppliers in China. 

”” Archer Daniel Midland, a company that makes food ingredients and animal feed, gained 94 cents, or 3.3 percent, to $29.38 after its earnings jumped in the last quarter following a restructuring.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks were flat on Wall Street as the latest round of earnings reports failed to give investors an impetus to push the market's recent rally forward. 

The Dow Jones industrial average rose 7.22 points to 13,986.52 on Wednesday, after trading slightly lower for most of the day. The Standard & Poor's 500 rose 0.83 point to 1,512.12. The Nasdaq composite was three points lower at 3,168.48 

Time Warner rose $2.05, or 4.1 percent, to $52.01 after the company said its net income grew 51 percent in the last three months of 2012 even as revenue was largely unchanged. Marathon Oil Corp. fell 32 cents, or 0.9 percent, to $34.40 after its fourth-quarter net income fell 41 percent on higher exploration costs and taxes. 

Stocks are consolidating their gains after surging since the start of the year. The Dow closed above 14,000 for the first time since December 2007 Friday and had its best January in almost two decades. The index is up 6.7 percent this year; the broader S&P 500 is 6 percent higher. 

"There's no question that we need to take a pause and let reality catch up," said Jim Russell, an investment director at U.S. Bank. 

The rally started when lawmakers reached a last-minute deal at New Year's to avoid the "fiscal cliff," a series of steep tax increases and spending cuts that would have kicked in at the beginning of the year. The gains continued on optimism that the housing market recovery is gaining momentum and that the job market is healing. 

While the budget deal reached in January dealt with tax increases, it didn't tackle spending cuts. 

Automatic spending cuts, which would hit everything from defense spending to popular benefit programs, were scheduled to take effect Jan. 1, but were postponed till March 1. Russell says stocks will be unlikely to rise strongly while talks heat up in Washington over the spending cuts, which are also referred to as sequestration. 

The rally has pushed stocks close to record levels. The Dow is 178 points off its record close, reached in October 2007, and the S&P is 53 points below its all-time high, achieved in the same month. 

 *The NYSE DOW closed  	HIGHER ▲	7.22	points or ▲	0.05%	Wednesday, 6 February 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,986.52	▲	7.22	▲	0.05%	
	Nasdaq____	3,168.48	▼	-3.10	▼	-0.10%	
	S&P_500____	1,512.12	▲	0.83	▲	0.05%	
	30_Yr_Bond____	3.180	▼	-0.04	▼	-1.24%	

NYSE Volume	 3,782,407,750 			 		 	
Nasdaq Volume	 1,996,284,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,295.34	▲	12.58	▲	0.20%	
	DAX_____	7,581.18	▼	-83.48	▼	-1.09%	
	CAC_40__	3,642.90	▼	-51.80	▼	-1.40%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,940.50	▲	37.90	▲	0.77%	
	Shanghai_Comp	2,434.48	▲	1.35	▲	0.06%	
	Taiwan_Weight	7,906.65	▲	19.71	▲	0.25%	
	Nikkei_225____	11,463.75	▲	416.83	▲	3.77%	
	Hang_Seng____	23,256.93	▲	53.93	▲	0.47%	
	Strait_Times___	3,276.53	▲	3.87	▲	0.12%	
	NZX_50_Index__	4,211.95	▼	-34.46	▼	-0.81%	

http://finance.yahoo.com/news/stocks-little-changed-earnings-fail-212930395.html

*Stocks little changed as earnings fail to inspire

Stocks flat as strong earnings from Disney and Time Warner fail to extend market rally*

By Steve Rothwell, AP Business Writer

Stocks were flat on Wall Street as the latest round of earnings reports failed to give investors an impetus to push the market's recent rally forward. 

The Dow Jones industrial average rose 7.22 points to 13,986.52 on Wednesday, after trading slightly lower for most of the day. The Standard & Poor's 500 rose 0.83 point to 1,512.12. The Nasdaq composite was three points lower at 3,168.48 

Time Warner rose $2.05, or 4.1 percent, to $52.01 after the company said its net income grew 51 percent in the last three months of 2012 even as revenue was largely unchanged. Marathon Oil Corp. fell 32 cents, or 0.9 percent, to $34.40 after its fourth-quarter net income fell 41 percent on higher exploration costs and taxes. 

Stocks are consolidating their gains after surging since the start of the year. The Dow closed above 14,000 for the first time since December 2007 Friday and had its best January in almost two decades. The index is up 6.7 percent this year; the broader S&P 500 is 6 percent higher. 

"There's no question that we need to take a pause and let reality catch up," said Jim Russell, an investment director at U.S. Bank. 

The rally started when lawmakers reached a last-minute deal at New Year's to avoid the "fiscal cliff," a series of steep tax increases and spending cuts that would have kicked in at the beginning of the year. The gains continued on optimism that the housing market recovery is gaining momentum and that the job market is healing. 

While the budget deal reached in January dealt with tax increases, it didn't tackle spending cuts. 

Automatic spending cuts, which would hit everything from defense spending to popular benefit programs, were scheduled to take effect Jan. 1, but were postponed till March 1. Russell says stocks will be unlikely to rise strongly while talks heat up in Washington over the spending cuts, which are also referred to as sequestration. 

The rally has pushed stocks close to record levels. The Dow is 178 points off its record close, reached in October 2007, and the S&P is 53 points below its all-time high, achieved in the same month. 

"We've had a really nice move up here, whether we graduate to the next level, I think is questionable," said Ben Schwarz, Chief Market Strategist at Light Speed Financial. "We're looking for something to spark it." 

More than half of the companies in the S&P 500 have now reported earnings for the fourth quarter and analysts are expecting earnings for the period to rise by 6 percent, according to data from S&P Capital IQ. That puts earnings growth on track to increase for the third straight quarter after slowing to 0.81 percent in the second quarter of 2012. 

As investors have become more comfortable holding riskier assets like stocks, they have cut their holdings in defensive investments like U.S. government bonds, sending yields on those bonds higher. 

The yield on the 10-year Treasury note, which moves inversely to its price, has risen more than 20 basis points since the start of the year and is trading close to its highest level since April. The yield fell 4 basis points to 1.96 percent Wednesday. 

Among other stocks making big moves: 

”” Ralph Lauren surged $9.72, or 5.9 percent, to $174.63 after the designer clothing company posted a 27 percent increase in income. The company is reporting strong spending among its affluent shoppers in the U.S. and improving trends in Europe. 

”” Walt Disney rose 23 cents, or 0.4 percent, to $54.52 after the company posted fiscal first-quarter profits that exceeded analysts' expectations. The entertainment giant's stock rose to a record $55.50, boosted by optimism about the earnings potential of its networks, movies and theme parks. 

””Boise Cascade, a wood products and building materials company, jumped $5.15, or 24.5 percent, to $26.15 on its first day of trading. 

”” Aflac fell $2.31, or 4.3 percent, to $51.18 after the insurer reported its fourth quarter earnings late Tuesday. RBC Capital Markets cut their forecast for the company's 2013 earnings to reflect the impact of a weaker Japanese yen. Aflac earns a significant portion of its revenues in Japan. 

”” Liberty Global Inc., the cable TV operator controlled by media mogul John Malone, fell $1.82, or 2.7 percent, to $66.06 after it said it is buying U.K.-based Virgin Media Inc. in a $16 billion deal.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks slumped on Wall Street Thursday, and the rally which has pushed indexes close to record levels stalled. 

The Dow Jones industrial average fell 42 points to 13,944, after sliding as much as 134 points earlier. The index has edged lower this week, after logging its best January in almost two decades. 

The Standard and Poor's 500 fell three points to 1,509 and the Nasdaq composite dropped three points to 3,165. 

"We had such a big January, some type of weakness, or consolidation, make sense here to us," said Ryan Detrick of Schaeffer's Investment Research in Cincinnati. 

The S&P 500 has lost an average of 0.58 percent in February over the last 20 years, making it the weakest month for stocks, according to research by Schaeffer's. 

Stocks fell as weaker earnings and worries about Europe overshadowed healthier signs for the U.S. economy. 

Fewer Americans sought unemployment benefits last week, a sign that layoffs are easing. Applications for unemployment benefits fell 5,000 to 366,000. 

But the stock price of News Corp. fell 66 cents, or 2.3 percent, to $27.52 after the media conglomerate cut its forecast for annual earnings. Weakness at several businesses, including its Fox broadcast network, should offset a gain in earnings in the most recent quarter. 

Investors also worried about comments from European Central Bank president Mario Draghi. He pledged to keep a close eye on the rising euro, fearing that the currency's rally in recent month could hurt exports and further harm the region's fragile economy

 *The NYSE DOW closed  	LOWER ▼	-42.47	points or ▼	-0.30%	Thursday, 7 February 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,944.05	▼	-42.47	▼	-0.30%	
	Nasdaq____	3,165.13	▼	-3.35	▼	-0.11%	
	S&P_500____	1,509.39	▼	-2.73	▼	-0.18%	
	30_Yr_Bond____	3.160	▼	-0.02	▼	-0.57%	

NYSE Volume	 3,865,390,000 			 		 	
Nasdaq Volume	 1,955,188,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,228.42	▼	-66.92	▼	-1.06%	
	DAX_____	7,590.85	▲	9.67	▲	0.13%	
	CAC_40__	3,601.05	▼	-41.85	▼	-1.15%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,955.80	▲	15.30	▲	0.31%	
	Shanghai_Comp	2,418.53	▼	-15.95	▼	-0.66%	
	Taiwan_Weight	7,906.65	▲	19.71	▲	0.25%	
	Nikkei_225____	11,357.07	▼	-106.68	▼	-0.93%	
	Hang_Seng____	23,177.00	▲	53.93	▼	-0.34%	
	Strait_Times___	3,261.77	▼	-14.76	▼	-0.45%	
	NZX_50_Index__	4,195.24	▼	-16.71	▼	-0.40%	

http://finance.yahoo.com/news/stocks-retreat-europe-earnings-weigh-214444389.html

*Stocks retreat as Europe, earnings weigh

Stocks sink as uninspiring earnings reports and concerns about Europe weigh on major indexes*

By Steve Rothwell, AP Business Writer 

Stocks slumped on Wall Street Thursday, and the rally which has pushed indexes close to record levels stalled. 

The Dow Jones industrial average fell 42 points to 13,944, after sliding as much as 134 points earlier. The index has edged lower this week, after logging its best January in almost two decades. 

The Standard and Poor's 500 fell three points to 1,509 and the Nasdaq composite dropped three points to 3,165. 

"We had such a big January, some type of weakness, or consolidation, make sense here to us," said Ryan Detrick of Schaeffer's Investment Research in Cincinnati. 

The S&P 500 has lost an average of 0.58 percent in February over the last 20 years, making it the weakest month for stocks, according to research by Schaeffer's. 

Stocks fell as weaker earnings and worries about Europe overshadowed healthier signs for the U.S. economy. 

Fewer Americans sought unemployment benefits last week, a sign that layoffs are easing. Applications for unemployment benefits fell 5,000 to 366,000. 

But the stock price of News Corp. fell 66 cents, or 2.3 percent, to $27.52 after the media conglomerate cut its forecast for annual earnings. Weakness at several businesses, including its Fox broadcast network, should offset a gain in earnings in the most recent quarter. 

Investors also worried about comments from European Central Bank president Mario Draghi. He pledged to keep a close eye on the rising euro, fearing that the currency's rally in recent month could hurt exports and further harm the region's fragile economy. 

"You could have very weak growth in Europe for the next five or ten years," said Michael Sheldon, chief strategist at RDM Financial Group. "There's a lot of austerity going through the European markets, so it's going to be a long time before they re-establish themselves." 

Most of Europe's major stock indexes ended the day lower. Only Germany and Greece bucked the trend. 

Europe has returned to investor's radars after several months of relative quiet. Stocks fell on Monday, partly because of a spike in borrowing costs for Italy and Spain. That reignited concerns that those countries won't be able to service their debts. 

Still, some say that the decline is more of a pullback than a sell-off. That will give investors a chance to buy stocks at lower prices in anticipation of the market resuming its rally. 

Stocks have jumped this year on optimism that the housing market will sustain its recovery and the job market will slowly heal. Corporate earnings growth has also accelerated. 

"There's really nothing new to worry about it," said Sam Stovall, chief equity strategist at S&P Capital IQ. 

As stocks fell Thursday, bonds rallied. The yield on the 10-year Treasury note, which moves inversely to its price, fell 1 basis point to 1.95 percent. 

Among other stocks making big moves: 

”” Akamai Technologies Inc., which helps websites deliver online content, plunged $6.32, or 15.2 percent, to $35.26, after revenue missed forecasts. 

”” Sprint Nextel Corp fell 3 cents, or 0.5 percent, to $5.74. The country's third-largest wireless carrier lost $1.3 billion in its latest quarter as it revamped its network to take on larger competitors. The company also lost 243,000 customers in contract-based plans. 

”” DeVry surged $4.29, or 16.4 percent, to $30.41 after the struggling for-profit education company reported better-than-expected earnings and analysts praised the its cost-cutting and restructuring efforts. 

”” Auto parts retailer O'Reilly Automotive jumped $7.45, or 8 percent, to $100 after earnings beat Wall Street forecasts.


----------



## bigdog

Source: http://finance.yahoo.com 

The Standard and Poor's 500 edged up to a five-year high Friday, extending a rally that started in January. 

The S&P 500 rose 8.54 points to 1,517.93, closing 0.3 percent up for the week. The index is at its highest since November 2007 and has advanced for six weeks, the longest streak of gains since August. 

The Dow Jones industrial average rose 48.92 points, or 0.4 percent, to 13,992.97. The Nasdaq composite climbed 28.74 points, or 0.9 percent, to finish the week at 3,193.87. 

The Dow had its best January in almost two decades, and closed above 14,000 on Feb. 1 for the first time since 2007. The index is up 6.8 percent so far this year; the S&P 500 is up 6.4 percent. 

A last-minute budget deal in Washington to avoid the "fiscal cliff" of tax hikes and spending cuts helped powered the rally, as did as optimism about the housing sector and gradual improvements in the jobs market. 

The S&P 500 finished the week higher despite logging its biggest daily decline in almost three months Monday following worrying news from Europe. 

The index fell 1.2 percent that day as bond yields in Spain and Italy rose on concern that the region's politicians will drag Europe back into crisis. European Central Bank President Mario Draghi's cautious comments about the region's economy also weighed on markets Thursday. 

"Everybody seems to be saying this market needs to correct," said Robert Pavlik, chief market strategist at Banyan Partners. "Nobody wants to be in it, but nobody wants to be out of it." 

Largely positive corporate earnings reports and a report that showed that the U.S. trade deficit narrowed sharply in December provided more fuel for the market's advance Friday. 

The trade deficit fell nearly 21 percent in December from November to $38.6 billion, the smallest in nearly three years, as exports rose while oil imports plummeted. The smaller trade gap means the economy likely performed better in the final three months of last year than first reported last week. 

 *The NYSE DOW closed  	HIGHER ▲	48.92	points or ▲	0.35%	Friday, 8 February 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,992.97	▲	48.92	▲	0.35%	
	Nasdaq____	3,193.87	▲	28.74	▲	0.91%	
	S&P_500____	1,517.93	▲	8.54	▲	0.57%	
	30_Yr_Bond____	3.170	▲	0.00	▲	0.13%	

NYSE Volume	 3,244,874,750 			 		 	
Nasdaq Volume	 1,823,433,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,263.93	▲	35.51	▲	0.57%	
	DAX_____	7,652.14	▲	61.29	▲	0.81%	
	CAC_40__	3,649.50	▲	48.45	▲	1.35%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,989.40	▲	33.60	▲	0.68%	
	Shanghai_Comp	2,432.40	▲	13.87	▲	0.57%	
	Taiwan_Weight	7,906.65	▲	19.71	▲	0.25%	
	Nikkei_225____	11,153.16	▼	-203.91	▼	-1.80%	
	Hang_Seng____	23,215.16	▲	53.93	▲	0.16%	
	Strait_Times___	3,270.30	▲	8.53	▲	0.26%	
	NZX_50_Index__	4,225.72	▲	30.48	▲	0.73%	

http://finance.yahoo.com/news/p-500-hits-five-high-215138808.html

*S&P 500 hits five-year high, extends rally

Start-of-year stock rally still intact; S&P 500 closes at highest point since November 2007*

By Steve Rothwell, AP Business Writer

The Standard and Poor's 500 edged up to a five-year high Friday, extending a rally that started in January. 

The S&P 500 rose 8.54 points to 1,517.93, closing 0.3 percent up for the week. The index is at its highest since November 2007 and has advanced for six weeks, the longest streak of gains since August. 

The Dow Jones industrial average rose 48.92 points, or 0.4 percent, to 13,992.97. The Nasdaq composite climbed 28.74 points, or 0.9 percent, to finish the week at 3,193.87. 

The Dow had its best January in almost two decades, and closed above 14,000 on Feb. 1 for the first time since 2007. The index is up 6.8 percent so far this year; the S&P 500 is up 6.4 percent. 

A last-minute budget deal in Washington to avoid the "fiscal cliff" of tax hikes and spending cuts helped powered the rally, as did as optimism about the housing sector and gradual improvements in the jobs market. 

The S&P 500 finished the week higher despite logging its biggest daily decline in almost three months Monday following worrying news from Europe. 

The index fell 1.2 percent that day as bond yields in Spain and Italy rose on concern that the region's politicians will drag Europe back into crisis. European Central Bank President Mario Draghi's cautious comments about the region's economy also weighed on markets Thursday. 

"Everybody seems to be saying this market needs to correct," said Robert Pavlik, chief market strategist at Banyan Partners. "Nobody wants to be in it, but nobody wants to be out of it." 

Largely positive corporate earnings reports and a report that showed that the U.S. trade deficit narrowed sharply in December provided more fuel for the market's advance Friday. 

The trade deficit fell nearly 21 percent in December from November to $38.6 billion, the smallest in nearly three years, as exports rose while oil imports plummeted. The smaller trade gap means the economy likely performed better in the final three months of last year than first reported last week. 

"The trade balance was surprisingly very good," said Phil Orlando, chief market strategist at Federated Investors. 

The government estimated that the U.S. economy contracted at an annual rate of 0.1 percent in the last three months of 2012. Orlando estimates that may now be revised to growth of 0.5 percent. 

Shares of LinkedIn, the online professional networking service, jumped $26.39, or 21.3 percent, to $150.40 after the company reported fourth-quarter results late Thursday that beat analysts' forecasts. AOL soared $2.31 to $33.72 after the Internet company said its quarterly revenue grew for the first time in eight years, helped by strength in worldwide advertising. 

Currently, analysts are expecting earnings for the fourth quarter of 2012 to rise 6.5 percent for S&P 500 companies, according to data from S&P Capital I&Q. That's an increase from the 2.4 percent growth rate recorded for the preceding quarter. 

Stocks have benefited as investors poured a net $4.1 billion into stock mutual funds since the start of the year, according to data provided by Lipper. 

"I'm very encouraged by the fact, that finally, for the first time in many years, individual investors seem to be participating in this," said David Kelly, chief global strategist at J.P. Morgan Funds. 

The yield on the 10-year note, which moves inversely to its price, fell one basis point to 1.95 percent. 

Trading volume was light as Wall Street braced for what is forecast to be the largest winter storm in more than a year. Up to 2 feet of snow forecast along the densely populated Interstate 95 corridor from the New York City area to Boston and beyond. 

Among other stocks making big moves; 

”” Microchip Technology, a semiconductor maker, jumped $2.45, or 7.2 percent, to $36.39 after its earnings beat estimates. The company said it was seeing "exceptionally strong" bookings. 

”” Moody's slumped $3.62, or 7.7 percent, to $43.37 even after reporting that fourth-quarter net income jumped 66 percent and revenue blew away expectations. Many are expecting the ratings agency will be the next target of the Justice Department, which filed a suit against rival Standard & Poor's for its actions before the housing market collapse. 

”” Activision Blizzard, which makes "Call of Duty" and other video games, rose $1.35, or 11.2 percent, to $13.41. The company posted sharply higher earnings and revenue in the fourth quarter, surpassing Wall Street's expectations.

4664


----------



## bigdog

Source: http://finance.yahoo.com 

U.S. stocks drifted lower in thin trading Monday, pulling the Standard & Poor's 500 index back from a five-year high. 

The broad-market index edged up slightly last week, enough to put it at its highest level since November 2007. With little in the way of market-moving news Monday, the S&P 500 slipped 0.92 of a point to close at 1,517.01. 

Seven of the 10 industry groups within the S&P 500 dropped. 

Now, with major indexes near record highs, many think the stock market's six-week rally is ready for a pause. 

"The consensus seems to be that we're due for a correction," says Brian Gendreau, market strategist at Cetera Financial Group. "If you compound the increase we've had so far, this year would be the best year ever for stocks. And nobody thinks that that's going to happen." 

The best year ever for stocks? For the S&P 500 index it was 1933, when the index rebounded 46 percent in the middle of the Great Depression. 

In other trading Monday, the Dow Jones industrial average dropped 21.73 points to 13,971.24. UnitedHealth Group led the Dow lower, losing 62 cents to $57.12. 

The Nasdaq composite fell 1.87 points to 3,192.00. 

Trading volume was light, with 2.6 billion shares trading on the New York Stock Exchange. That compares with a two-month moving average of 3.4 billion. 

Solid earnings reports have helped feed the rally in recent weeks. Of the 342 companies in the S&P index that reported results through last week, two out of every three have beat Wall Street's earnings estimates, according to research from Goldman Sachs.

 *The NYSE DOW closed  	LOWER ▼	-21.73	points or ▼	-0.16%	Monday, 11 February 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,971.24	▼	-21.73	▼	-0.16%	
	Nasdaq____	3,192.00	▼	-1.87	▼	-0.06%	
	S&P_500____	1,517.01	▼	-0.92	▼	-0.06%	
	30_Yr_Bond____	3.150	▼	-0.02	▼	-0.51%	

NYSE Volume	 2,830,079,250 			 		 	
Nasdaq Volume	 1,551,395,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,277.06	▲	13.13	▲	0.21%	
	DAX_____	7,633.74	▼	-18.40	▼	-0.24%	
	CAC_40__	3,650.58	▲	1.08	▲	0.03%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,980.30	▼	-9.10	▼	-0.18%	
Shanghai_Comp	2,432.40	▲	13.87	▲	0.57%	closed for holiday
Taiwan_Weight	7,906.65	▲	19.71	▲	0.25%	closed for holiday	
	Nikkei_225____	11,153.16	▼	-203.91	▼	-1.80%	
Hang_Seng____	23,215.16	▲	53.93	▲	0.16%	closed for holiday
Strait_Times___	3,270.30	▲	8.53	▲	0.26%	closed for holiday
	NZX_50_Index__	4,220.50	▼	-5.22	▼	-0.12%	

http://finance.yahoo.com/news/stock...MEcHQDc2VjdGlvbnMEdGVzdANUZXN0X0FGQw--;_ylv=3

*Stock market drifts lower to start the week

US stocks head lower after 6 weeks of gains*

By The Associated Press 

U.S. stocks drifted lower in thin trading Monday, pulling the Standard & Poor's 500 index back from a five-year high. 

The broad-market index edged up slightly last week, enough to put it at its highest level since November 2007. With little in the way of market-moving news Monday, the S&P 500 slipped 0.92 of a point to close at 1,517.01. 

Seven of the 10 industry groups within the S&P 500 dropped. 

Now, with major indexes near record highs, many think the stock market's six-week rally is ready for a pause. 

"The consensus seems to be that we're due for a correction," says Brian Gendreau, market strategist at Cetera Financial Group. "If you compound the increase we've had so far, this year would be the best year ever for stocks. And nobody thinks that that's going to happen." 

The best year ever for stocks? For the S&P 500 index it was 1933, when the index rebounded 46 percent in the middle of the Great Depression. 

In other trading Monday, the Dow Jones industrial average dropped 21.73 points to 13,971.24. UnitedHealth Group led the Dow lower, losing 62 cents to $57.12. 

The Nasdaq composite fell 1.87 points to 3,192.00. 

Trading volume was light, with 2.6 billion shares trading on the New York Stock Exchange. That compares with a two-month moving average of 3.4 billion. 

Solid earnings reports have helped feed the rally in recent weeks. Of the 342 companies in the S&P index that reported results through last week, two out of every three have beat Wall Street's earnings estimates, according to research from Goldman Sachs. 

Gendreau pointed to three reasons he believes that stocks still have room to run. Even after the market's recent surge, the typical stock looks fairly priced when compared to underlying earnings. Corporations keep finding ways to boost profits, which helps lure stock prices higher. And Americans looking for places to put their savings have few attractive alternatives. 

"I'll go out on a limb and say that I think earnings growth, attractive valuations and pent-up demand will add up to a fairly strong year for equities," Gendreau said. 

Apple's stock gained following reports over the weekend that the tech giant is developing a wristwatch-like gadget, a smart watch. The device would reportedly run the same operating system used for iPhones and iPads. Apple rose $4.95 to $479.93. 

The stock market raced to a stunning start this year. A last-minute deal in Washington to avoid tax hikes and spending cuts known as the "fiscal cliff" eased fears that the budget cuts could lead the U.S. into a recession. Markets soared in relief. 

The Dow and the S&P 500 have already gained more than 6 percent for the year. The Nasdaq is up 5.7 percent. 

In the market for U.S. government bonds, the yield on the 10-year Treasury hovered at 1.95 percent on Monday, unchanged from late Friday. The yield began the year trading at 1.70 and has moved steadily higher as worries about a recession have dissipated, drawing traders out of the Treasury market, the world's biggest hiding spot. 

Among other companies in the news Monday: 

”” Loews Corp. said Monday morning that it lost $32 million in its fourth quarter, hurt by insurance losses from Superstorm Sandy and sliding prices for natural gas. The holding company, which has dealings in insurance, oil and gas and hotels, is largely controlled by the Tisch family of New York. Its stock sank 34 cents to $43.51. 

”” Danish drug maker Novo Nordisk dropped 14 percent. The U.S. Food and Drug Administration refused to approve the company's proposed diabetes treatments until it received more data, which the drug maker said it couldn't supply this year. Novo Nordisk's depositary receipts lost $26.89 to $165.40. 

”” Carnival Corp., the cruise-ship operator, sank 29 cents to $38.72. An engine room fire over the weekend left its cruise ship Triumph stranded in the Gulf of Mexico. The company said Monday that the ship's automatic extinguishing systems put out the fire and that nobody was injured.


----------



## bigdog

Source: http://finance.yahoo.com 

The Dow rose to its highest close of the year Tuesday, ending 146 points from a record. Stocks gained after impressive results from two big consumer brands. 

The Dow Jones industrial average closed up 47.46 to 14,018.70, putting it within 1 percent of the record close of 14,164.53 set in October 2007. The Standard & Poor's 500 gained 2.42 points to 1,519.43, also close to its record. 

In a quiet day of trade, stocks were driven higher by beauty products maker Avon and luxury clothing and accessories company Michael Kors, whose results impressed investors. Consumer spending accounts for 70 percent of economic activity in the U.S. 

Financial and home building stocks also lifted stocks, led by Bank of America and Masco Corp, which notched some of the day's biggest gains. 

The Dow has surged at the start of the year, logging its best January in almost two decades, after lawmakers reached a last-minute deal to avoid the "fiscal cliff" of sweeping tax increases and spending cuts. Investors are also becoming more optimistic that the housing market is recovering and that hiring is picking up. 

The 30-member Dow has now closed above 14,000 twice this month. Before February, the index had closed above that level just nine times in its history. The first time was in July 2007; the rest were in October of that year. 

Avon's stock price jumped $3.51, or 20 percent, to $20.79 after the company posted a fourth-quarter loss that wasn't as bad as analysts expected. The company also hopes to save $400 million by slashing costs. Michael Kors rose $5, or 9 percent, to $62 after reporting earnings that beat analysts' predictions. 

About 70 percent of companies in the S&P 500 have reported earnings for the fourth quarter. Analysts are projecting that earnings will rise 6.4 percent for the period, an improvement from the 2.4 percent growth reported in the third quarter, according to S&P Capital IQ. 

The Dow has now advanced 7 percent this year, and the S&P 500 is up 6.6 percent. 

In other trading Tuesday, the Nasdaq composite was down 5.51 points at 3,186.49. 

Investors may have become too optimistic about the outlook for stocks, said Uri Landesman, president of hedge fund Platinum Partners. 

"The market is priced for perfection," said Landesman. "The odds of a disappointment are very, very high." 

 *The NYSE DOW closed  	HIGHER ▲	47.46	points or ▲	0.34%	Tuesday, 12 February 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,018.70	▲	47.46	▲	0.34%	
	Nasdaq____	3,186.49	▼	-5.51	▼	-0.17%	
	S&P_500____	1,519.43	▲	2.42	▲	0.16%	
	30_Yr_Bond____	3.190	▲	0.04	▲	1.27%	

NYSE Volume	 3,608,058,500 			 		 	
Nasdaq Volume	 1,787,252,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,338.38	▲	61.32	▲	0.98%	
	DAX_____	7,660.19	▲	26.45	▲	0.35%	
	CAC_40__	3,686.58	▲	36.00	▲	0.99%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,981.50	▲	1.20	▲	0.02%	
Shanghai_Comp	2,432.40	▲	13.87	▲	0.57%	closed for holiday
Taiwan_Weight	7,906.65	▲	19.71	▲	0.25%	closed for holiday
	Nikkei_225____	11,369.12	▲	215.96	▲	1.94%	
Hang_Seng____	23,215.16	▲	53.93	▲	0.16%	closed for holiday
Strait_Times___	3,270.30	▲	0.00	▲	0.00%	closed for holiday
	NZX_50_Index__	4,218.12	▼	-2.38	▼	-0.06%	

http://finance.yahoo.com/news/dow-c...MEcHQDc2VjdGlvbnMEdGVzdANUZXN0X0FGQw--;_ylv=3

*Dow closes at highest level of year, nears record

Dow closes at highest level of the year, nearing record; Avon, Michael Kors surge on results*

By Steve Rothwell, AP Business Writer

The Dow rose to its highest close of the year Tuesday, ending 146 points from a record. Stocks gained after impressive results from two big consumer brands. 

The Dow Jones industrial average closed up 47.46 to 14,018.70, putting it within 1 percent of the record close of 14,164.53 set in October 2007. The Standard & Poor's 500 gained 2.42 points to 1,519.43, also close to its record. 

In a quiet day of trade, stocks were driven higher by beauty products maker Avon and luxury clothing and accessories company Michael Kors, whose results impressed investors. Consumer spending accounts for 70 percent of economic activity in the U.S. 

Financial and home building stocks also lifted stocks, led by Bank of America and Masco Corp, which notched some of the day's biggest gains. 

The Dow has surged at the start of the year, logging its best January in almost two decades, after lawmakers reached a last-minute deal to avoid the "fiscal cliff" of sweeping tax increases and spending cuts. Investors are also becoming more optimistic that the housing market is recovering and that hiring is picking up. 

The 30-member Dow has now closed above 14,000 twice this month. Before February, the index had closed above that level just nine times in its history. The first time was in July 2007; the rest were in October of that year. 

Avon's stock price jumped $3.51, or 20 percent, to $20.79 after the company posted a fourth-quarter loss that wasn't as bad as analysts expected. The company also hopes to save $400 million by slashing costs. Michael Kors rose $5, or 9 percent, to $62 after reporting earnings that beat analysts' predictions. 

About 70 percent of companies in the S&P 500 have reported earnings for the fourth quarter. Analysts are projecting that earnings will rise 6.4 percent for the period, an improvement from the 2.4 percent growth reported in the third quarter, according to S&P Capital IQ. 

The Dow has now advanced 7 percent this year, and the S&P 500 is up 6.6 percent. 

In other trading Tuesday, the Nasdaq composite was down 5.51 points at 3,186.49. 

Investors may have become too optimistic about the outlook for stocks, said Uri Landesman, president of hedge fund Platinum Partners. 

"The market is priced for perfection," said Landesman. "The odds of a disappointment are very, very high." 

Landesman predicts that the S&P 500 will climb past its record and rise as high as 1,600 by April before then slumping as low as 1,300 as company earnings start to disappoint investors. The record close for the S&P 500 is 1,565, reached in October 2007. 

Investors appear to be supporting the market by stepping in to buy stocks when prices dip, said JJ Kinahan, chief derivatives strategist at TDAmeritrade. The S&P 500 has gained for six straight weeks since the start of the year. 

Confidence in the outlook for global growth has strengthened among asset managers in recent months, according to a Bank of America Merrill Lynch survey. The poll found that 59 percent of investors believe that the global economy will strengthen in the year ahead, in line with the reading in January. The outlook for growth had improved in the four previous months. 

Investors will be watching closely Tuesday night when President Barack Obama delivers his annual State of the Union speech. Obama is expected to focus on the economy, including job creation. 

A decline in bond prices since the beginning of the year has also slowed. The yield on the 10-year Treasury note, which moves inversely to its price, rose 2 basis points to 1.98 percent. The yield was 1.71 percent at the beginning of the year. 

Among other stocks making big moves: 

”” Coca-Cola, the world's largest beverage company, fell $1.05, or 2.7 percent, to $37.56 after reporting fourth-quarter revenue that fell short of analysts' forecasts. 

”” Masco jumped $2.22, or 13 percent, to $20.01 after the home improvement and building products company reported earnings that beat analysts' expectations thanks to strong demand in North America. 

”” Dun & Bradstreet, a provider of credit and business data, fell $6.60, or 7.7 percent, to $78.68 after the company reported that a fourth-quarter profit that came in below market expectations.


----------



## bigdog

Source: http://finance.yahoo.com 

The Dow was held back by a slump in McDonald's stock Wednesday, leaving it short of a record. 

The Dow Jones industrial average shed 35.79 points to close at 13,982.91. The Dow has gained 6.7 percent this year and is just 182 points below the record close of 14,164 it set in October 2007. 

McDonald's was the biggest decliner in the Dow, losing $1.10 to $94, as investors worried that Americans will spend less on eating out following a rise in Social Security taxes at the beginning of the year. The government reported early Wednesday that spending by Americans barely grew last month. 

Other fast-food companies also fell. Buffalo Wild Wings stock plunged $4.52 to $76.55 after its earnings fell short of analysts' expectations. Burger King and Wendy's also fell. 

"Consumer spending is coming under pressure," said Bryan Elliott, an analyst at Raymond James. "It's the easiest way to save money, stay at home and cook." 

The Standard & Poor's 500 index edged up 0.90 point to 1,520.33. The index climbed as high as 1,524 during the day, the highest since November 2007. It is up 6.6 percent so far this year. 

Investors sent General Electric and Comcast higher after GE agreed Tuesday to sell its stake in NBCUniversal to Comcast for $16.7 billion. GE said it would use up to $10 billion of the money to buy back its own stock. GE rose 81 cents to $23.39. Comcast advanced $1.16 to $40.13. 

Trading has been relatively quiet in recent days following a strong opening to the year. The Dow logged its best January in almost two decades after lawmakers reached a last-minute deal to avoid the "fiscal cliff" of sweeping tax increases and spending cuts. Investors are also becoming more optimistic that the housing market is recovering and that hiring is picking up. 

"We're cautiously optimistic on stocks," said Colleen Supran, principal at Bingham, Osborn & Scarborough. "There is some indication that we could be continuing on this slow growth trajectory." 

Supran said investors should still be prepared for volatility in the stock market and not assume that the gains from January and so far in February will set the pattern for the rest of the year. 

 *The NYSE DOW closed  	LOWER ▼	-35.79	points or ▼	-0.26%	Wednesday, 13 February 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,982.91	▼	-35.79	▼	-0.26%	
	Nasdaq____	3,196.88	▲	10.39	▲	0.33%	
	S&P_500____	1,520.33	▲	0.90	▲	0.06%	
	30_Yr_Bond____	3.220	▲	0.03	▲	1.03%	

NYSE Volume	 3,606,080,000 			 		 	
Nasdaq Volume	 1,818,865,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,359.11	▲	20.73	▲	0.33%	
	DAX_____	7,711.89	▲	51.70	▲	0.67%	
	CAC_40__	3,698.53	▲	11.95	▲	0.32%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,024.50	▲	43.00	▲	0.86%	
Shanghai_Comp 2,432.40 ▲ 13.87 ▲ 0.57% closed for holiday
Taiwan_Weight 7,906.65 ▲ 19.71 ▲ 0.25% closed for holiday
	Nikkei_225____	11,251.41	▼	-117.71	▼	-1.04%	
Hang_Seng____ 23,215.16 ▲ 53.93 ▲ 0.16% closed for holiday
	Strait_Times___	3,301.04	▲	30.74	▲	0.94%	
	NZX_50_Index__	4,221.40	▲	3.27	▲	0.08%	

http://finance.yahoo.com/news/slump-mcdonalds-stock-drags-dow-213451467.html

*A slump in McDonald's stock drags Dow lower

Stocks edge lower from record levels; McDonald's slumps on concern restaurant spending to drop*

By Steve Rothwell, AP Business Writer 

The Dow was held back by a slump in McDonald's stock Wednesday, leaving it short of a record. 

The Dow Jones industrial average shed 35.79 points to close at 13,982.91. The Dow has gained 6.7 percent this year and is just 182 points below the record close of 14,164 it set in October 2007. 

McDonald's was the biggest decliner in the Dow, losing $1.10 to $94, as investors worried that Americans will spend less on eating out following a rise in Social Security taxes at the beginning of the year. The government reported early Wednesday that spending by Americans barely grew last month. 

Other fast-food companies also fell. Buffalo Wild Wings stock plunged $4.52 to $76.55 after its earnings fell short of analysts' expectations. Burger King and Wendy's also fell. 

"Consumer spending is coming under pressure," said Bryan Elliott, an analyst at Raymond James. "It's the easiest way to save money, stay at home and cook." 

The Standard & Poor's 500 index edged up 0.90 point to 1,520.33. The index climbed as high as 1,524 during the day, the highest since November 2007. It is up 6.6 percent so far this year. 

Investors sent General Electric and Comcast higher after GE agreed Tuesday to sell its stake in NBCUniversal to Comcast for $16.7 billion. GE said it would use up to $10 billion of the money to buy back its own stock. GE rose 81 cents to $23.39. Comcast advanced $1.16 to $40.13. 

Trading has been relatively quiet in recent days following a strong opening to the year. The Dow logged its best January in almost two decades after lawmakers reached a last-minute deal to avoid the "fiscal cliff" of sweeping tax increases and spending cuts. Investors are also becoming more optimistic that the housing market is recovering and that hiring is picking up. 

"We're cautiously optimistic on stocks," said Colleen Supran, principal at Bingham, Osborn & Scarborough. "There is some indication that we could be continuing on this slow growth trajectory." 

Supran said investors should still be prepared for volatility in the stock market and not assume that the gains from January and so far in February will set the pattern for the rest of the year. 

Strengthening the economy and creating jobs were key topics in President Barack Obama's State of the Union address late Tuesday, the first since his re-election. Although the economy is healthier than it was four years ago, growth remains slow and unemployment high. 

Obama announced that the U.S. will begin talks with the European Union on a trans-Atlantic trade agreement. He also called for increased spending to fix roads and bridges and the first increase in the minimum wage in six years. The president also challenged deeply divided lawmakers to find compromises to avoid massive, automatic spending cuts that are scheduled to take place March 1. 

The government reported that Americans' spending at retail businesses and restaurants slowed last month after higher taxes cut their paychecks. Retail sales growth slowed to 0.1 percent in January, from a 0.5 percent increase in December. 

The Nasdaq composite rose 10.38 points to 3,196.88. 

As stocks have advanced this year, bond prices have slumped. 

The yield on the 10-year Treasury note, which moves inversely to its price, rose 4 basis points to 2.02 percent. The yield on the note has risen more than 30 basis points since the start of the year. 

Among other stocks making big moves: 

”” Groupon rose 29 cents to $5.58 after brokerage firm Sterne, Agee & Leach, raised its rating on the company to "Buy" from "Neutral," citing the long-term potential for Groupon's changing business model. The online deals company has lost almost three quarters of its value since going public in November 2011 at $20 as revenue growth slowed. 

”” Dean Foods, a milk producer, fell $1.69 to $16.70, after their profit forecast fell short of Wall Street expectations.


----------



## bigdog

Source: http://finance.yahoo.com 

Renewed worries about Europe overshadowed an encouraging U.S. jobs report on Thursday, leaving major stock indexes roughly where they started. 

Germany's economy shrank more than expected late last year, and the slowdown in Europe's largest economy deepened the region's ongoing recession. That's a troubling sign for the U.S., because sales to Europe have been a boon for American companies. 

The Dow Jones industrial average fell 9.52 points to close at 13,973.39. 

After a strong start, the stock market has drifted sideways over the previous week with few major events to sway investors. That calm could disappear soon, said Doug Cote, chief market strategist at ING U.S. Investment Management. 

With recessions in Europe and Japan, and weak growth in the U.S., he's bracing for some turbulence. "Everybody is too complacent," Cote said. 

Cisco Systems fell 1 percent. The world's largest maker of computer networking equipment reported earnings late Wednesday that surpassed Wall Street's expectations, but the company predicted sales growth that was weaker than previous estimates. Cisco's stock lost 15 cents to $20.99. 

The Standard & Poor's 500 index edged up 1.05 to 1,521.38. The Nasdaq composite index rose 1.78 to 3,198.66. 

The S&P 500 index has climbed 1.6 percent this month and has already gained 6.7 percent for the year. 

The number of people applying for unemployment benefits fell to 341,000 last week, the lowest level in three weeks, according to the Labor Department. Besides a few weeks last month affected by seasonal trends, that's the lowest level in nearly five years

 *The NYSE DOW closed  	LOWER ▼	-9.52	points or ▼	-0.07%	Thursday, 14 February 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,973.39	▼	-9.52	▼	-0.07%	
	Nasdaq____	3,198.66	▲	1.78	▲	0.06%	
	S&P_500____	1,521.38	▲	1.05	▲	0.07%	
	30_Yr_Bond____	3.180	▼	-0.04	▼	-1.33%	

NYSE Volume	 3,968,305,750 			 		 	
Nasdaq Volume	 1,924,387,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,327.36	▼	-31.75	▼	-0.50%	
	DAX_____	7,631.19	▼	-80.70	▼	-1.05%	
	CAC_40__	3,669.60	▼	-28.93	▼	-0.78%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,057.20	▲	32.70	▲	0.65%	
Shanghai_Comp 2,432.40 ▲ 13.87 ▲ 0.57% closed for holiday
Taiwan_Weight 7,906.65 ▲ 19.71 ▲ 0.25% closed for holiday
	Nikkei_225____	11,307.28	▲	55.87	▲	0.50%	
	Hang_Seng____	23,413.25	▲	53.93	▲	0.85%	
	Strait_Times___	3,290.47	▼	-10.57	▼	-0.32%	
	NZX_50_Index__	4,239.20	▲	17.80	▲	0.42%	

http://finance.yahoo.com/news/stock-market-wavers-europes-economy-214021637.html

*Stock market wavers as Europe's economy slows

US stocks end mixed as investors sort through European slowdown, better jobs report, mergers*

By Matthew Craft, AP Business Writer 

Renewed worries about Europe overshadowed an encouraging U.S. jobs report on Thursday, leaving major stock indexes roughly where they started. 

Germany's economy shrank more than expected late last year, and the slowdown in Europe's largest economy deepened the region's ongoing recession. That's a troubling sign for the U.S., because sales to Europe have been a boon for American companies. 

The Dow Jones industrial average fell 9.52 points to close at 13,973.39. 

After a strong start, the stock market has drifted sideways over the previous week with few major events to sway investors. That calm could disappear soon, said Doug Cote, chief market strategist at ING U.S. Investment Management. 

With recessions in Europe and Japan, and weak growth in the U.S., he's bracing for some turbulence. "Everybody is too complacent," Cote said. 

Cisco Systems fell 1 percent. The world's largest maker of computer networking equipment reported earnings late Wednesday that surpassed Wall Street's expectations, but the company predicted sales growth that was weaker than previous estimates. Cisco's stock lost 15 cents to $20.99. 

The Standard & Poor's 500 index edged up 1.05 to 1,521.38. The Nasdaq composite index rose 1.78 to 3,198.66. 

The S&P 500 index has climbed 1.6 percent this month and has already gained 6.7 percent for the year. 

The number of people applying for unemployment benefits fell to 341,000 last week, the lowest level in three weeks, according to the Labor Department. Besides a few weeks last month affected by seasonal trends, that's the lowest level in nearly five years. 

Among the many deals announced Thursday, American Airlines and U.S. Airways agreed to merge, creating the country's largest airline. Warren Buffett and 3G Capital, a private-equity firm, also plan to buy the ketchup maker H.J. Heinz for $23 billion. US Airways sank 67 cents to $13.99, while H.J. Heinz soared $12.02 to $72.41. 

Constellation Brands soared 37 percent, the biggest gain in the S&P 500, after reaching a deal with Anheuser-Busch InBev. InBev agreed to sell a brewery in Mexico and rights for Corona and Modelo beer in the U.S. to Constellation for $2.9 billion. Constellation Brands gained $11.87 to $43.75. 

In the market for U.S. government bonds, the yield on the 10-year Treasury slipped to 1.99 percent, down from 2.02 percent the day before. 

The 10-year Treasury yield, used to set a variety of borrowing rates, began the year around 1.70 percent and has climbed steadily higher since then. As worries about a recession ease, traders have shifted money out of the Treasury market, driving yields up. 

Among other companies making news: 

”” Whole Foods Market slumped 10 percent. The grocery store chain trimmed its forecasts for sales and earnings this year, a result of its plans to open more stores and put more lower-priced goods on its shelves. Whole Foods lost $9.40 to $87.50. 

”” General Motors fell 3 percent after the biggest U.S. carmaker said it made money in North America and Asia and nearly doubled last year's fourth-quarter profit. But its earnings fell short of analysts' estimates. GM's stock dropped 92 cents to $27.75.


----------



## bigdog

Source: http://finance.yahoo.com 

The S&P 500 kept its winning streak alive, just. 

The Standard & Poor's 500 ended the week nearly two points higher, enough to give it a seventh straight week of gains. That's the longest stretch of advances in more than two years. 

The index lost 1.59 points to end at 1,519.79 Friday. For the week it held on to a gain of 1.86 points. 

Investors piled into stocks at the beginning of the year after lawmakers reached a last-minute deal to avoid the "fiscal cliff" of sweeping tax hikes and spending cuts. The gains continued as investors were encouraged by signs that the housing and jobs markets are recovering. Company earnings have also held up well. 

There are signs, however, that the rally is running out of steam. 

The Dow Jones industrial average rose 8.37 points to close at 13,981.76 Friday, but ended the week down 11 points. The index has now edged lower for two straight weeks. 

"We've just had such a fast start to the year," said John Fox, manager of the FAM value fund. "It just makes sense that you are going to have a leveling or a slowdown." 

Walmart was the biggest decliner in the Dow Friday. The stock fell $1.52, or 2.2 percent, to $69.30 after Bloomberg News published excerpts from an internal e-mail that said sales in February were a "total disaster." The retailer, which reports earnings next week, said that sometimes internal communications lacked "proper context" and "are not entirely accurate." 

Energy companies also contributed to the slump, following the price of crude oil lower. Chevron dropped 75 cents, or 0.6 percent, to $114.96. 

The Nasdaq composite fell 6.63 points to 3,192.03 and was also down for the week, dropping 1.84 points. 

 *The NYSE DOW closed  	HIGHER ▲	8.37	points or ▲	0.06%	Friday, 15 February 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,981.76	▲	8.37	▲	0.06%	
	Nasdaq____	3,192.03	▼	-6.63	▼	-0.21%	
	S&P_500____	1,519.79	▼	-1.59	▼	-0.10%	
	30_Yr_Bond____	3.179	▼	0.00	▼	-0.06%	

NYSE Volume	 4,097,427,000 			 		 	
Nasdaq Volume	 1,831,741,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,328.26	▲	0.90	▲	0.01%	
	DAX_____	7,593.51	▼	-37.68	▼	-0.49%	
	CAC_40__	3,660.37	▼	-9.23	▼	-0.25%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,054.60	▼	-2.60	▼	-0.05%	
Shanghai_Comp 2,432.40 ▲ 13.87 ▲ 0.57% closed for holiday
Taiwan_Weight 7,906.65 ▲ 19.71 ▲ 0.25% closed for holiday
	Nikkei_225____	11,173.83	▼	-133.45	▼	-1.18%	
	Hang_Seng____	23,444.56	▲	53.93	▲	0.13%	
	Strait_Times___	3,283.07	▼	-7.40	▼	-0.22%	
	NZX_50_Index__	4,196.73	▼	-42.46	▼	-1.00%	

http://finance.yahoo.com/news/p-500-ends-higher-extending-214822182.html

*S&P 500 ends higher, extending streak

S&P 500 ends higher for seventh week, longest streak of gains in more than 2 years*

By Steve Rothwell, AP Business Writer 

The S&P 500 kept its winning streak alive, just. 

The Standard & Poor's 500 ended the week nearly two points higher, enough to give it a seventh straight week of gains. That's the longest stretch of advances in more than two years. 

The index lost 1.59 points to end at 1,519.79 Friday. For the week it held on to a gain of 1.86 points. 

Investors piled into stocks at the beginning of the year after lawmakers reached a last-minute deal to avoid the "fiscal cliff" of sweeping tax hikes and spending cuts. The gains continued as investors were encouraged by signs that the housing and jobs markets are recovering. Company earnings have also held up well. 

There are signs, however, that the rally is running out of steam. 

The Dow Jones industrial average rose 8.37 points to close at 13,981.76 Friday, but ended the week down 11 points. The index has now edged lower for two straight weeks. 

"We've just had such a fast start to the year," said John Fox, manager of the FAM value fund. "It just makes sense that you are going to have a leveling or a slowdown." 

Walmart was the biggest decliner in the Dow Friday. The stock fell $1.52, or 2.2 percent, to $69.30 after Bloomberg News published excerpts from an internal e-mail that said sales in February were a "total disaster." The retailer, which reports earnings next week, said that sometimes internal communications lacked "proper context" and "are not entirely accurate." 

Energy companies also contributed to the slump, following the price of crude oil lower. Chevron dropped 75 cents, or 0.6 percent, to $114.96. 

The Nasdaq composite fell 6.63 points to 3,192.03 and was also down for the week, dropping 1.84 points. 

Herbalife gained 47 cents, or 1.2 percent, to $38.74, and climbed as high as $44.93 after the billionaire investor Carl Icahn disclosed that he had accumulated a 13 percent stake in the company. The stock of the dietary supplement maker slumped last year after Pershing Square Capital Management's William Ackman described it as a massive pyramid scheme and placed bets that it would fall. 

Investors are continuing to put money into stocks. Lipper, a unit of financial data provider Thomson Reuters, reported that $2.4 billion flowed into stock funds this week, marking the sixth straight week of increases. In January $37.4 billion went into stock funds, the most in that month since 2000. 

The yield on the 10-year Treasury note, which moves inversely to its price, has risen as investors have put more cash into stocks. The yield rose 1 basis point to 2.01 percent, having started the year at 1.70 percent. 

Among other stocks making big moves: 

”” MeadWestvaco, a packaging company, surged $3.97, or 12.5 percent, to $35.65 after Nelson Peltz's Trian Fund Management disclosed that it had taken a $51 million stake in the company. 

”” Xoom, an online money transfer company, surged $9.49, or 59 percent, to $25.49 on its first day as a publicly traded company. Xoom raised $101.2 million from selling 6.3 million shares at $16 each. 

”” Burger King gained 78 cents, or 4.7 percent, to $17.36. The company's fourth-quarter earnings nearly doubled after it revamped its menu. 

”” St. Jude Medical fell $1.48, or 3.4 percent, to $41.53 after a Cowen & Co. analyst downgraded the medical device maker's stock, saying he believes the company's Durata heart wire is not very different from older wires that have been taken off the market.

5460


----------



## bigdog

Source: http://finance.yahoo.com 

Europe's main stock market indexes nosed higher on Monday as investors cautiously contemplated a further fall in value for the Japanese yen, which sent the benchmark Nikkei index surging more than 2 percent. 

Analysts predicted a subdued start to the European trading week with voters in Italy and Cyprus to cast ballots next weekend and Wall Street's closure for Presidents Day. 

Traders also digested the relative lack of criticism of Japan at a weekend meeting of Group of 20 finance ministers. Japanese Prime Minister Shinzo Abe has introduced measures that would have the knock-on effect of driving down the yen in a bid to help manufacturers. 

After starting the day in negative territory, Europe's main indexes were mixed around midday. Britain's FTSE 100 rose 0.9 percent to 6,318.65. Germany's DAX climbed 0.4 percent at 7,624.8. France's CAC-40 gained 0.2 percent to 3,667. 

Earlier, many eyes in Asia were on Japan, where the Nikkei 225 index in Tokyo surged 2.1 percent to close at 11,407.87. Australia's S&P/ASX 200 rose 0.6 percent to 5,063.40. South Korea's Kospi was marginally higher at 1,981.91. 

*The NYSE was closed for Presidents' Day (Washington's Birthday) on Monday February 18, 2013.
The NYSE DOW closed  	HIGHER ▲	8.37	points or ▲	0.06%	Friday, 15 February 2013
Symbol …........Last ......Change..... * 
Dow_Jones	13,981.76	▲	8.37	▲	0.06%	closed for holiday
Nasdaq____	3,192.03	▼	-6.63	▼	-0.21%	closed for holiday
S&P_500____	1,519.79	▼	-1.59	▼	-0.10%	closed for holiday
30_Yr_Bond____	3.179	▼	0.00	▼	-0.06%	closed for holiday

NYSE Volume	 4,097,427,000 			 		 	
Nasdaq Volume	 1,831,741,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,318.19	▼	-9.17	▼	-0.14%	
	DAX_____	7,628.73	▲	35.22	▲	0.46%	
	CAC_40__	3,667.04	▲	6.67	▲	0.18%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,082.90	▲	28.30	▲	0.56%	
	Shanghai_Comp	2,421.56	▲	3.03	▲	0.13%	
	Taiwan_Weight	7,943.53	▲	36.88	▲	0.47%	
	Nikkei_225____	11,407.87	▲	234.04	▲	2.09%	
	Hang_Seng____	23,381.94	▲	53.93	▼	-0.27%	
	Strait_Times___	3,285.61	▲	2.54	▲	0.08%	
	NZX_50_Index__	4,214.48	▲	17.74	▲	0.42%	

http://finance.yahoo.com/news/key-europe-indexes-rise-heels-170000801.html

*Key Europe indexes rise on heels of Japan's Nikkei

Major European indexes gain as Japan's Nikkei rises after G20 officials eschew yen criticism*

By Jamey Keaten, Associated Press 

Europe's main stock market indexes nosed higher on Monday as investors cautiously contemplated a further fall in value for the Japanese yen, which sent the benchmark Nikkei index surging more than 2 percent. 

Analysts predicted a subdued start to the European trading week with voters in Italy and Cyprus to cast ballots next weekend and Wall Street's closure for Presidents Day. 

Traders also digested the relative lack of criticism of Japan at a weekend meeting of Group of 20 finance ministers. Japanese Prime Minister Shinzo Abe has introduced measures that would have the knock-on effect of driving down the yen in a bid to help manufacturers. 

After starting the day in negative territory, Europe's main indexes were mixed around midday. Britain's FTSE 100 rose 0.9 percent to 6,318.65. Germany's DAX climbed 0.4 percent at 7,624.8. France's CAC-40 gained 0.2 percent to 3,667. 

In a brief research note Monday, Credit Agricole's global market research department said it expects the markets' focus to remain this week on the prospects for recovery among the 17 European Union countries that use the euro. An EU economic forecast is expected out on Friday. 

Earlier, Germany's central bank said Europe's biggest economy was on track to avoid a recession amid signs of growth in the first three months of the year. The German economy shrank 0.6 percent in the fourth quarter of 2012. The European Central Bank predicts the eurozone economy will shrink 0.3 percent in 2013 and only start to recover later this year. 

Also Monday, French Finance Minister Pierre Moscovici said he is sticking to the Socialist government's increasingly tenuous goal to cut France's state budget deficit to 3 percent of economic output by year-end. France, which officially still expects growth of 0.8 percent this year, has taken deficit-reduction measures ”” but the state auditor cautioned last week that the level could in fact rise to 4.5 percent. 

Moscovici, speaking to reporters in Paris, said he didn't believe France's credibility would be hurt if "something exceptional intervened" that could possibly scale back the deficit reduction target. 

Shares of mining giant Anglo-American skidded 2.9 percent to 19.80 pence in London after police in South Africa said several people were shot and injured as miners from rival unions clashed at one of its platinum mines. 

Earlier, many eyes in Asia were on Japan, where the Nikkei 225 index in Tokyo surged 2.1 percent to close at 11,407.87. Australia's S&P/ASX 200 rose 0.6 percent to 5,063.40. South Korea's Kospi was marginally higher at 1,981.91. 

A lack of G20 criticism for Abe's economic policy appeared to give him a freer hand to pursue Japan's efforts to jolt its manufacturing sector. 

"The lack of specificity will mean that the G20 statement will allow further unobstructed" yen weakness in the months ahead, Mitul Kotecha of Credit Agricole CIB said in a market commentary. 

The dollar and euro resumed their rise against the Japanese currency. The U.S. greenback fetched 93.96 yen, up 0.46 yen, and the euro also gained 0.46 yen, to 125.43 yen. 

Mainland Chinese shares were mixed after a weeklong break for Lunar New Year. The Shanghai Composite Index fell 0.5 percent to 2,421.56. Hong Kong's Hang Seng fell 0.3 percent to 23,381.94. 

Last week, the yen fell to a near three-year low against the dollar and the euro. The yen has been steadily declining since December because of expectations that Japan's central bank would take action resulting in a weakening of the yen. 

Benchmark oil for March delivery was down 20 cents to $95.65 per barrel in electronic trading on the New York Mercantile Exchange. The contract closed at $95.86 a barrel on the Nymex on Friday.


----------



## bigdog

Source: http://finance.yahoo.com 

Talk of more deal-making sent the stock market higher Tuesday, putting the Dow Jones industrial average within close reach of its all-time high. 

Reports that retailers Office Depot and OfficeMax are discussing a merger came after big corporate deals for Heinz and Dell were announced in recent weeks. Some investors are betting that more deals could be on the way as buyers pay premium prices for publicly traded companies. 

The Dow rose 53.91 points to close at 14,035.67. All it would take now is one good day to push the average above 14,164, the record high reached in October 2007. 

"It seems that investors are more comfortable with taking risk right now," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago. That's despite the $1.2 trillion in automatic federal spending cuts that are scheduled to start March 1 unless Congress and the White House find a way to avoid them. Congress returns from vacation next week. 

Previous budget battles in Washington have rattled financial markets. But this time out, many investors seem unfazed by the prospect that Congress won't stop the "sequester" from kicking in. One reason is that the cuts are spread across the board for a decade, instead of all at once. 

"I think investors are actually comforted by it," Ablin said. "It's not ideal. But if Congress can't do it when left to their own devices, this is the next best thing." 

In other trading Tuesday, the Standard & Poor's 500 index rose 11.15 points to 1,530.94. The technology-heavy Nasdaq composite index gained 21.56 points to 3,213.59. Google crossed $800 for the first time. 

The gains were widely shared, if slight. Nine of the 10 industry groups tracked by the Standard & Poor's 500 index inched higher, led by energy companies. More than two stocks rose for every one that fell on the New York Stock Exchange. 

Markets were also higher in Europe following news that the German economy is picking up steam. Indexes rose more than 1 percent in Germany and France.

 *The NYSE DOW closed  	HIGHER ▲	53.91	points or ▲	0.39%	Tuesday, 19 February 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,035.67	▲	53.91	▲	0.39%	
	Nasdaq____	3,213.59	▲	21.56	▲	0.68%	
	S&P_500____	1,530.94	▲	11.15	▲	0.73%	
	30_Yr_Bond____	3.205	▲	0.03	▲	0.82%	

NYSE Volume	 4,001,940,250 			 		 	
Nasdaq Volume	 1,846,791,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,379.07	▲	60.88	▲	0.96%	
	DAX_____	7,752.45	▲	123.72	▲	1.62%	
	CAC_40__	3,735.82	▲	68.78	▲	1.88%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,101.00	▲	18.10	▲	0.36%	
	Shanghai_Comp	2,382.91	▼	-38.64	▼	-1.60%	
	Taiwan_Weight	7,960.88	▲	17.35	▲	0.22%	
	Nikkei_225____	11,372.34	▼	-35.53	▼	-0.31%	
	Hang_Seng____	23,143.91	▲	53.93	▼	-1.02%	
	Strait_Times___	3,295.77	▲	7.63	▲	0.23%	
	NZX_50_Index__	4,244.21	▲	29.73	▲	0.71%	

http://finance.yahoo.com/news/talk-more-corporate-deals-sends-144623024.html

*Talk of more corporate deals sends stocks higher

Stocks rise as investors hope that mergers will continue; Office Depot, OfficeMax soar*

By Matthew Craft, AP Business Writer 

Talk of more deal-making sent the stock market higher Tuesday, putting the Dow Jones industrial average within close reach of its all-time high. 

Reports that retailers Office Depot and OfficeMax are discussing a merger came after big corporate deals for Heinz and Dell were announced in recent weeks. Some investors are betting that more deals could be on the way as buyers pay premium prices for publicly traded companies. 

The Dow rose 53.91 points to close at 14,035.67. All it would take now is one good day to push the average above 14,164, the record high reached in October 2007. 

"It seems that investors are more comfortable with taking risk right now," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago. That's despite the $1.2 trillion in automatic federal spending cuts that are scheduled to start March 1 unless Congress and the White House find a way to avoid them. Congress returns from vacation next week. 

Previous budget battles in Washington have rattled financial markets. But this time out, many investors seem unfazed by the prospect that Congress won't stop the "sequester" from kicking in. One reason is that the cuts are spread across the board for a decade, instead of all at once. 

"I think investors are actually comforted by it," Ablin said. "It's not ideal. But if Congress can't do it when left to their own devices, this is the next best thing." 

In other trading Tuesday, the Standard & Poor's 500 index rose 11.15 points to 1,530.94. The technology-heavy Nasdaq composite index gained 21.56 points to 3,213.59. Google crossed $800 for the first time. 

The gains were widely shared, if slight. Nine of the 10 industry groups tracked by the Standard & Poor's 500 index inched higher, led by energy companies. More than two stocks rose for every one that fell on the New York Stock Exchange. 

Markets were also higher in Europe following news that the German economy is picking up steam. Indexes rose more than 1 percent in Germany and France. 

Stocks of office supplies stores jumped following a report in The Wall Street Journal that OfficeMax and Office Depot were considering a deal to merge. The paper said an announcement could come as early as this week. 

OfficeMax soared $2.25 to an even $13, a gain of 21 percent, and Office Depot shot up 43 cents to $5.02, a gain of 9 percent. Staples also rose as investors anticipated that more mergers could be on the way. 

Analysts cautioned that antitrust regulators could block mergers in the office-supply business. Staples, for instance, tried to buy Office Depot in 1997, but was stopped by the Federal Trade Commission. 

Health insurers fell after the release of preliminary government data that suggests rate cuts to Medicare Advantage plans for next year will be steeper than anticipated. 

The two largest Medicare Advantage providers, Humana and UnitedHealth, sank. Humana had the biggest loss in the S&P 500, dropping 6 percent, or $4.98, to $73.01. UnitedHealth fell 66 cents to $56.66. 

The government says it expects costs per person for Medicare Advantage plans to fall more than 2 percent in 2014. The government uses this figure as a benchmark to determine payments for these privately run versions of the government's health care program for the elderly and disabled. 

In the market for U.S. government bonds, the yield on the 10-year Treasury note rose to 2.03 percent from 2 percent late Friday.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market posted its biggest loss this year on news that Federal Reserve officials suggested the central bank scale back its effort to keep borrowing costs low. 

Minutes from the Fed's January meeting seemed to catch investors by surprise when they were released at 2 p.m. EST. Several Fed policymakers worried that the bank's program of buying $85 billion of bonds each month could eventually unsettle financial markets or cause the bank to take losses. Even so, most of the Fed officials thought the economy faced fewer risks than in December. 

Judging by the market's reaction, the Fed appears to be closer to ending its support for the economy than traders had expected, said Dan Greenhaus, chief global strategist at the brokerage BTIG. "We're at a point now where we're discussing how we're going to end this, not whether it's going to end," he said. 

The S&P 500 index sank 18.99 points to 1,511.95, a loss off 1.2 percent. That's the biggest one-day drop since Nov. 14, 2012. 

By buying bonds, the Fed drives up their prices and lowers interest rates, which have stayed at record lows. That keeps costs low for mortgages and other types of loans. 

The major indexes drifted sideways in morning trading then turned lower in the early afternoon after Caterpillar reported weaker sales of its heavy trucks and mining equipment. Stocks fell further after traders had time to digest the Fed minutes. The S&P 500 lost 11 points in the last hour and a half of trading. 

The Dow Jones industrial average fell 108 points, or less than 1 percent, to close at 13,927. Merck helped curb the Dow's fall, rising 1 percent, on news that it teamed up with a Korean drugmaker to create drugs. 

The Nasdaq composite fell 49 points, or 1.5 percent, to 3,164. 

 *The NYSE DOW closed  	LOWER ▼	-108.13	points or ▼	-0.77%	Wednesday, 20 February 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,927.54	▼	-108.13	▼	-0.77%	
	Nasdaq____	3,164.41	▼	-49.18	▼	-1.53%	
	S&P_500____	1,511.95	▼	-18.99	▼	-1.24%	
	30_Yr_Bond____	3.209	▲	0.00	▲	0.12%	

NYSE Volume	 4,576,503,500 			 		 	
Nasdaq Volume	 1,998,613,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,395.37	▲	16.30	▲	0.26%	
	DAX_____	7,728.90	▼	-23.55	▼	-0.30%	
	CAC_40__	3,709.88	▼	-25.94	▼	-0.69%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,114.40	▲	13.40	▲	0.26%	
	Shanghai_Comp	2,397.18	▲	14.26	▲	0.60%	
	Taiwan_Weight	8,029.10	▲	68.22	▲	0.86%	
	Nikkei_225____	11,468.28	▲	95.94	▲	0.84%	
	Hang_Seng____	23,307.41	▲	53.93	▲	0.71%	
	Strait_Times___	3,304.37	▲	8.60	▲	0.26%	
	NZX_50_Index__	4,214.24	▼	-29.97	▼	-0.71%	

http://finance.yahoo.com/news/stocks-drop-following-fed-doubts-221313054.html

*Stocks drop following Fed doubts about stimulus

S&P 500 index takes biggest drop this year following Federal Reserve doubts about stimulus*

By Matthew Craft, AP Business Writer 

The stock market posted its biggest loss this year on news that Federal Reserve officials suggested the central bank scale back its effort to keep borrowing costs low. 

Minutes from the Fed's January meeting seemed to catch investors by surprise when they were released at 2 p.m. EST. Several Fed policymakers worried that the bank's program of buying $85 billion of bonds each month could eventually unsettle financial markets or cause the bank to take losses. Even so, most of the Fed officials thought the economy faced fewer risks than in December. 

Judging by the market's reaction, the Fed appears to be closer to ending its support for the economy than traders had expected, said Dan Greenhaus, chief global strategist at the brokerage BTIG. "We're at a point now where we're discussing how we're going to end this, not whether it's going to end," he said. 

The S&P 500 index sank 18.99 points to 1,511.95, a loss off 1.2 percent. That's the biggest one-day drop since Nov. 14, 2012. 

By buying bonds, the Fed drives up their prices and lowers interest rates, which have stayed at record lows. That keeps costs low for mortgages and other types of loans. 

The major indexes drifted sideways in morning trading then turned lower in the early afternoon after Caterpillar reported weaker sales of its heavy trucks and mining equipment. Stocks fell further after traders had time to digest the Fed minutes. The S&P 500 lost 11 points in the last hour and a half of trading. 

The Dow Jones industrial average fell 108 points, or less than 1 percent, to close at 13,927. Merck helped curb the Dow's fall, rising 1 percent, on news that it teamed up with a Korean drugmaker to create drugs. 

The Nasdaq composite fell 49 points, or 1.5 percent, to 3,164. 

News that Apple's major supplier, Foxconn, stopped hiring at its largest plant in China helped push down Apple's stock. Foxconn reportedly said the hiring freeze was not caused by slumping orders for iPhones. Apple fell $11.14 to $448.85. 

The stock market surged at the start of the year then drifted slightly higher in recent weeks with few major events to drive trading one way or another. That could change as soon as Congress returns from vacation next Monday. Deep federal spending cuts are scheduled to start March 1 unless Congress and the White House find a way to avoid them. 

Both the Dow and the S&P 500 have gained 6 percent for the year. The Nasdaq is up 5 percent. 

Before the Fed minutes came out, Phil Orlando, the chief market strategist at Federated Investors, said he believed the stock market had climbed too quickly and was prone to a big drop. He expected the S&P 500 to get knocked down by 3 percent or more in the coming weeks. Another budget battle in Washington could be the trigger. 

"There are a lot of us who say, 'We're a little bit ahead of ourselves here,'" Orlando said. "I still expect an all-time high for the S&P 500 this year, but it's going to get there in fits and starts." 

Even though housing construction slowed down in January, the Department of Commerce reported Wednesday that new housing starts remained strong. Builders started construction at an annual rate of 890,000 last month, down 8.5 percent from December. Applications for building permits increased. 

The Dow closed at its highest level of the year Tuesday, bringing it within one percent of 14,164, the record high reached more than five years ago. 

In the U.S. government bond market, the yield on the 10-year Treasury note slipped to 2.01 percent from 2.03 percent late Tuesday. The yield has climbed steadily higher since the start of the year, when it traded around 1.70 percent. 

Among companies making moves: 

”” GPS device maker Garmin slumped 9 percent, the biggest drop in the S&P 500 index, after the company's results missed analysts' forecasts. Demand has waned for handheld navigation devices as more customers use maps on their smartphones. Garmin lost $3.70 to $35.54. 

”” Food giant ConAgra gained 20 cents to $33.65 after it raised its profit forecast for the year. The company, whose brands include Chef Boyardee, said its acquisition of Ralcorp will add a nickel per share to adjusted earnings this year.


----------



## bigdog

Source: http://finance.yahoo.com 

U.S. stocks continued a two-day slide Thursday on weak economic data and concern about the Federal Reserve's resolve to keep juicing the economy. 

Signaling that the U.S. labor market remains in slow recovery mode, the government said more people applied for unemployment benefits last week. The four-week average, a less volatile measure, rose to the highest in six weeks. 

The Dow Jones industrial average closed down 46.92 points, or 0.3 percent, at 13,880.62. 

The S&P 500 index dropped 9.53, or 0.6 percent, to 1,502.42. The S&P is headed for its first weekly loss of the year. The Nasdaq composite index lost 32.92, or 1 percent, to 3,131.49. 

In Europe, markets closed sharply lower after a monthly survey of European executives showed that business activity in the European Union slowed in February, a strong signal that a downturn that began last year will continue into 2013. Benchmark indexes lost 2.3 percent in France, 1.9 percent in Germany, and 1.6 percent in Britain. 

U.S. indexes have soared this year to the highest levels since the financial crisis but may be ready to fall back to earth, said Kim Caughey Forrest, senior analyst with Fort Pitt Capital Group, a portfolio management firm in Pittsburgh. 

"I think the market has gotten ahead of itself," she said. She said fourth-quarter earnings have generally met expectations, but only after those expectations were reduced because companies made dire projections in November and December. 

 *The NYSE DOW closed  	LOWER ▼	-46.92	points or ▼	-0.34%	Thursday, 21 February 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,880.62	▼	-46.92	▼	-0.34%	
	Nasdaq____	3,131.49	▼	-32.92	▼	-1.04%	
	S&P_500____	1,502.42	▼	-9.53	▼	-0.63%	
	30_Yr_Bond____	3.166	▼	-0.04	▼	-1.34%	

NYSE Volume	 4,700,525,000 			 		 	
Nasdaq Volume	 2,050,414,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,291.54	▼	-103.83	▼	-1.62%	
	DAX_____	7,583.57	▼	-145.33	▼	-1.88%	
	CAC_40__	3,624.80	▼	-85.08	▼	-2.29%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,998.60	▼	-115.80	▼	-2.26%	
	Shanghai_Comp	2,325.95	▼	-71.23	▼	-2.97%	
	Taiwan_Weight	7,957.46	▼	-71.64	▼	-0.89%	
	Nikkei_225____	11,309.13	▼	-159.15	▼	-1.39%	
	Hang_Seng____	22,906.67	▲	53.93	▼	-1.72%	
	Strait_Times___	3,287.60	▼	-21.29	▼	-0.64%	
	NZX_50_Index__	4,170.43	▼	-43.81	▼	-1.04%	

http://finance.yahoo.com/news/us-stocks-keep-sliding-weak-150552816.html

*US stocks keep sliding on weak data, Fed qualms

US stocks fall for second day on weak global economic data, fear that Fed will slow bond buys*

By Daniel Wagner, AP Business Writer

U.S. stocks continued a two-day slide Thursday on weak economic data and concern about the Federal Reserve's resolve to keep juicing the economy. 

Signaling that the U.S. labor market remains in slow recovery mode, the government said more people applied for unemployment benefits last week. The four-week average, a less volatile measure, rose to the highest in six weeks. 

The Dow Jones industrial average closed down 46.92 points, or 0.3 percent, at 13,880.62. 

The S&P 500 index dropped 9.53, or 0.6 percent, to 1,502.42. The S&P is headed for its first weekly loss of the year. The Nasdaq composite index lost 32.92, or 1 percent, to 3,131.49. 

In Europe, markets closed sharply lower after a monthly survey of European executives showed that business activity in the European Union slowed in February, a strong signal that a downturn that began last year will continue into 2013. Benchmark indexes lost 2.3 percent in France, 1.9 percent in Germany, and 1.6 percent in Britain. 

U.S. indexes have soared this year to the highest levels since the financial crisis but may be ready to fall back to earth, said Kim Caughey Forrest, senior analyst with Fort Pitt Capital Group, a portfolio management firm in Pittsburgh. 

"I think the market has gotten ahead of itself," she said. She said fourth-quarter earnings have generally met expectations, but only after those expectations were reduced because companies made dire projections in November and December. 

Wal-Mart Stores rose after beating analysts' profit forecasts in the fourth quarter. However, the biggest retailer warned of a slow start to the year. It gained $1.05, or 1.5 percent, to $70.26. 

After a strong start to the holiday season, Wal-Mart said, the first three weeks of December were weak, and business has been volatile since then. The company attributed some of the weakness to a delay in tax refund checks that have left people strapped for cash. Wal-Mart's customers also have less money to spend because a temporary payroll tax cut expired in December. 

"Everybody's gotten a 2 percent pay cut, and people who file their taxes early are not getting a refund back in a timely manner," Forrest said. 

Supermarket chain Safeway was the biggest gainer in the S&P 500, rising $2.84, or 14.1 percent, to $22.97 after saying its net income jumped 13 percent in the fourth quarter, helped by higher gift and prepaid card revenue. 

Electric car company Tesla Motors plunged a day after reporting that its fourth-quarter net loss grew 10 percent on costs related to production of its new Model S. The stock fell $3.38, or 8.8 percent, to $35.16. 

Earlier, Asian stocks had closed sharply lower. The sell-off began Wednesday afternoon in New York after the release of minutes from the Fed's latest meeting. The meeting notes showed that some policymakers want to wind down bond purchases and other measures aimed at boosting the economy. 

The minutes revealed new divisions over the Fed's low-interest rate policies. There is no sign of inflation, yet there was more evidence that some Fed officials are ready to ease off the stimulus programs before the economy has fully recovered. 

The Fed's bond-buying has been boosting markets by reducing the cost of borrowing for companies and investors, Forrest explained. When interest rates are lower, it's possible to do business cheaper even if a company isn't growing, she said. 

"Thinking maybe interest rates will creep higher, this is a very chilling scenario" for the market, she said. 

The yield on the 10-year Treasury note fell to 1.98 percent from 2.05 percent early Wednesday as demand increased for ultra-safe assets.


----------



## bigdog

Source: http://finance.yahoo.com 

With barely a week to go before $85 billion in automatic government spending cuts kick in, Wall Street is holding its nerve. 

The Dow Jones industrial average has gained 6.8 percent since the start of the year as investors largely ignored the latest installment of Washington's budget drama. The Dow Jones climbed close to its record level at the start of the month and the Standard & Poor's 500 notched up a streak of seven straight weeks of gains, before easing back this week. Even after its weekly loss of 0.3 percent, it's still up 6.3 percent this year. 

Wall Street is betting that the cuts, which the Congressional Budget Office estimates will take 0.6 of a percentage point of economic growth this year and cost 750,000 jobs, won't be enough to derail the recovery. Investors may also have become used to Washington brinkmanship, having seen last-minute deals brokered after a series of political standoffs. 

David Bianco, chief U.S. equities strategist at Deutsche Bank, says the automatic spending cuts could actually be a "net positive" for stocks, despite the drag that they would put on the economy. That's because a set of known, measurable spending cuts are better than no budget reduction at all. 

"Significant spending cuts are needed," Bianco says. "Until that happens, people are going to worry that this is still a problem that needs to be solved." 

Bianco estimates that the impact of the spending cuts on corporate profits will be limited, reducing the income of companies in the S&P 500 index by just 2 percent. 

Sitting on the sidelines during the political wrangling in Washington hasn't been a winning strategy in recent years either, as stocks have rebounded and come back stronger each time, says David Kelly, chief strategist at J.P. Morgan funds. 

The Dow has returned 24 percent since the end of August 2011, after plunging following the showdown that month over raising the country's borrowing limit. The index is also 12 percent higher since bottoming out in November after the election, when investors sold stocks on concern that a divided government wouldn't be able to come up with a budget compromise. 

"Twice already investors have learnt the lesson that if you wait for everything to calm down in Washington you'll miss out on the rally," Kelly says. 

Analysts and investors generally agree that the huge amount of attention being paid to the $85 billion of cuts far exceeds the actual impact they will have on the $16 trillion U.S. economy, particularly given that the cuts will be phased in over time, and some will ultimately be reversed. 

The cuts are very much a problem of Washington's own making. The Budget Control Act, signed in to law in August 2011, was meant to end the nation's debt crisis and force lawmakers to come up with a measured approach to reduce the deficit. The automatic spending cuts were included in the bill with the idea that they would be so unpalatable to lawmakers that they would have a strong incentive to avoid them by making a deal to reduce the budget deficit. 

With time running out to broker a deal, the cuts looks likely to go into effect on March 1. Then the focus will likely turn to a March 27 deadline that could result in a government shutdown.

 *The NYSE DOW closed  	HIGHER ▲	119.95	points or ▲	0.86%	Friday, 22 February 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,000.57	▲	119.95	▲	0.86%	
	Nasdaq____	3,161.82	▲	30.33	▲	0.97%	
	S&P_500____	1,515.60	▲	13.18	▲	0.88%	
	30_Yr_Bond____	3.155	▼	-0.01	▼	-0.35%	

NYSE Volume	 3,651,706,250 			 		 	
Nasdaq Volume	 1,580,688,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,335.70	▲	44.16	▲	0.70%	
	DAX_____	7,661.91	▲	78.34	▲	1.03%	
	CAC_40__	3,706.28	▲	81.48	▲	2.25%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,036.70	▲	38.10	▲	0.76%	
	Shanghai_Comp	2,314.16	▼	-11.79	▼	-0.51%	
	Taiwan_Weight	7,947.72	▼	-9.74	▼	-0.12%	
	Nikkei_225____	11,385.94	▲	76.81	▲	0.68%	
	Hang_Seng____	22,782.44	▲	53.93	▼	-0.54%	
	Strait_Times___	3,288.13	▲	0.53	▲	0.02%	
	NZX_50_Index__	4,214.60	▲	44.17	▲	1.06%	

http://finance.yahoo.com/news/wall-...MEcHQDc2VjdGlvbnMEdGVzdANUZXN0X0FGQw--;_ylv=3

*Wall Street holds its nerve as spending cuts near

Wall Street holds its nerve as $85 billion of across-the-board spending cuts near*

By Steve Rothwell, AP Business Writer 

With barely a week to go before $85 billion in automatic government spending cuts kick in, Wall Street is holding its nerve. 

The Dow Jones industrial average has gained 6.8 percent since the start of the year as investors largely ignored the latest installment of Washington's budget drama. The Dow Jones climbed close to its record level at the start of the month and the Standard & Poor's 500 notched up a streak of seven straight weeks of gains, before easing back this week. Even after its weekly loss of 0.3 percent, it's still up 6.3 percent this year. 

Wall Street is betting that the cuts, which the Congressional Budget Office estimates will take 0.6 of a percentage point of economic growth this year and cost 750,000 jobs, won't be enough to derail the recovery. Investors may also have become used to Washington brinkmanship, having seen last-minute deals brokered after a series of political standoffs. 

David Bianco, chief U.S. equities strategist at Deutsche Bank, says the automatic spending cuts could actually be a "net positive" for stocks, despite the drag that they would put on the economy. That's because a set of known, measurable spending cuts are better than no budget reduction at all. 

"Significant spending cuts are needed," Bianco says. "Until that happens, people are going to worry that this is still a problem that needs to be solved." 

Bianco estimates that the impact of the spending cuts on corporate profits will be limited, reducing the income of companies in the S&P 500 index by just 2 percent. 

Sitting on the sidelines during the political wrangling in Washington hasn't been a winning strategy in recent years either, as stocks have rebounded and come back stronger each time, says David Kelly, chief strategist at J.P. Morgan funds. 

The Dow has returned 24 percent since the end of August 2011, after plunging following the showdown that month over raising the country's borrowing limit. The index is also 12 percent higher since bottoming out in November after the election, when investors sold stocks on concern that a divided government wouldn't be able to come up with a budget compromise. 

"Twice already investors have learnt the lesson that if you wait for everything to calm down in Washington you'll miss out on the rally," Kelly says. 

Analysts and investors generally agree that the huge amount of attention being paid to the $85 billion of cuts far exceeds the actual impact they will have on the $16 trillion U.S. economy, particularly given that the cuts will be phased in over time, and some will ultimately be reversed. 

The cuts are very much a problem of Washington's own making. The Budget Control Act, signed in to law in August 2011, was meant to end the nation's debt crisis and force lawmakers to come up with a measured approach to reduce the deficit. The automatic spending cuts were included in the bill with the idea that they would be so unpalatable to lawmakers that they would have a strong incentive to avoid them by making a deal to reduce the budget deficit. 

With time running out to broker a deal, the cuts looks likely to go into effect on March 1. Then the focus will likely turn to a March 27 deadline that could result in a government shutdown. 

That may sound scary, but even that outcome doesn't necessarily translate into a slumping stock market, says Tobias Levkovich, an equity strategist at Citigroup. When President Bill Clinton and House Speaker Newt Gingrich clashed over the budget in late 1995 and early 1996, the market actually rallied, with the S&P 500 gaining about 4 percent over the course of the shutdown. That suggests that investors were focusing on other factors such as economic growth and earnings. 

As the intensity of the debate around cuts and shutdowns picks up, investors shouldn't overreact. "We don't think it's a great idea to trade around the vicissitudes of Washington behavior," says Levkovich. 

Defense is one area where the cuts will be felt acutely, and investors have responded accordingly. The Pentagon is preparing to slash $46 billion from its budget year, which runs to Sep. 30, Defense Secretary Leon Panetta told Congress on Wednesday. 

Defense giants Lockheed Martin, Raytheon and General Dynamics have all slumped this year, while the broader market has rallied. Lockheed Martin, which makes fighter jets including the F-22 Raptor and F-35 Lightning, has fallen 4.5 percent this year to $88.12. General Dynamics, which builds ships for the navy has dropped 2.8 percent to $67.32. 

Chris Bertelsen, chief investment officer at Global Financial Private Capital, says the slump is an opportunity for investors to pick up stocks at a good price and lock in high dividend income. Lockheed Martin, for example, pays a dividend of 5.3 percent on its stock, more than double the average rate of 2.1 percent in the S&P 500. 

In any event, investors know full well that the most important, and politically sensitive, U.S. budget problem is far from resolved: controlling the runaway growth in spending by government entitlement programs like Medicare. 

"What we need are entitlement cuts in the long run, rather than discretionary cuts in the short run." says JPMorgan's Kelly. "It's obvious."

5983


----------



## pavilion103

Another big fall! 1.5%


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks had their worst drop in more than three months as the prospect of political paralysis in Italy raised the specter of Europe's debt crisis flaring up again. 

The Dow Jones industrial average fell 216.40 points, or 1.6 percent, to 13,784.17, its biggest drop since Nov. 7. 

The Standard & Poor's 500 index fell 27.75 points, or 1.8 percent, to 1,487.85, dropping below 1,500 for the first time in three weeks. The Nasdaq composite dropped 45.57 points, or 1.4 percent, to 3,116.25. 

Stocks had rallied in the early going as exit polls showed that a center-left coalition in Italy that favored economic reforms in the euro region's third-largest economy was leading. That gain evaporated after a later poll predicted that the elections could result in a stalemate in the country's legislature. The losses accelerate in the late afternoon as partial official results showed an upstart protest campaign led by a comedian making stunning inroads. 

"There was confidence in this election and obviously confidence imploded," said Ben Schwartz, a market strategist at Lightspeed Financial. 

Investors dumped Italian government bonds, sending their yields higher, and erased most of an early rally in Italy's stock market. The yield on Italy's 10-year government bond shot up to 4.43 percent from 4.12 percent early in the day, a sign that investors' confidence in Italy's government was dimming quickly. The country's benchmark stock index, the FSTE MIB, rose 0.7 percent, giving up an early gain of 4 percent. 

Investors worry about the outcome of Italy's election because it could set off another crisis of confidence in the region's shared currency, the euro. Financial markets in both Europe and the U.S. have swooned at the prospect of Italy or Spain being dragged into the region's government debt troubles, which have led to bailouts of Greece, Ireland and Portugal and severe disruptions in financial markets. 

As stocks plunged, gauges of market sentiment indicated that investors were becoming more risk-averse and parking their money in defensive assets. The yield on the 10-year Treasury note, which is widely considered an ultra-safe investment, fell sharply as investors plowed money into U.S. government bonds. The yield fell to 1.88 percent from 1.96 percent late Friday. 

The VIX index, a measure of how volatile investors expect the stock market to be, surged 34 percent to 19, the biggest one-day move since August 2011. 

 *The NYSE DOW closed  	LOWER ▼	-216.40	points or ▼	-1.55%	Monday, 25 February 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,784.17	▼	-216.40	▼	-1.55%	
	Nasdaq____	3,116.25	▼	-45.57	▼	-1.44%	
	S&P_500____	1,487.85	▼	-27.75	▼	-1.83%	
	30_Yr_Bond____	3.090	▼	-0.07	▼	-2.06%	

NYSE Volume	 3,856,140,000 			 		 	
Nasdaq Volume	 1,930,340,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,355.37	▲	63.83	▲	1.01%	
	DAX_____	7,773.19	▲	111.28	▲	1.45%	
	CAC_40__	3,721.33	▲	15.05	▲	0.41%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,072.70	▲	36.00	▲	0.71%	
	Shanghai_Comp	2,325.82	▲	11.66	▲	0.50%	
	Taiwan_Weight	7,947.68	▼	-39.21	▼	-0.49%	
	Nikkei_225____	11,662.52	▲	276.58	▲	2.43%	
	Hang_Seng____	22,820.08	▲	53.93	▲	0.17%	
	Strait_Times___	3,288.76	▲	0.63	▲	0.02%	
	NZX_50_Index__	4,226.44	▲	11.84	▲	0.28%	

http://finance.yahoo.com/news/stocks-drop-italy-heads-political-214119302.html

*Stocks drop as Italy heads for political disarray

Stocks plunge as messy Italian elections rekindle concern over Europe's debt crisis*

By Steve Rothwell, AP Business Writer 

Stocks had their worst drop in more than three months as the prospect of political paralysis in Italy raised the specter of Europe's debt crisis flaring up again. 

The Dow Jones industrial average fell 216.40 points, or 1.6 percent, to 13,784.17, its biggest drop since Nov. 7. 

The Standard & Poor's 500 index fell 27.75 points, or 1.8 percent, to 1,487.85, dropping below 1,500 for the first time in three weeks. The Nasdaq composite dropped 45.57 points, or 1.4 percent, to 3,116.25. 

Stocks had rallied in the early going as exit polls showed that a center-left coalition in Italy that favored economic reforms in the euro region's third-largest economy was leading. That gain evaporated after a later poll predicted that the elections could result in a stalemate in the country's legislature. The losses accelerate in the late afternoon as partial official results showed an upstart protest campaign led by a comedian making stunning inroads. 

"There was confidence in this election and obviously confidence imploded," said Ben Schwartz, a market strategist at Lightspeed Financial. 

Investors dumped Italian government bonds, sending their yields higher, and erased most of an early rally in Italy's stock market. The yield on Italy's 10-year government bond shot up to 4.43 percent from 4.12 percent early in the day, a sign that investors' confidence in Italy's government was dimming quickly. The country's benchmark stock index, the FSTE MIB, rose 0.7 percent, giving up an early gain of 4 percent. 

Investors worry about the outcome of Italy's election because it could set off another crisis of confidence in the region's shared currency, the euro. Financial markets in both Europe and the U.S. have swooned at the prospect of Italy or Spain being dragged into the region's government debt troubles, which have led to bailouts of Greece, Ireland and Portugal and severe disruptions in financial markets. 

As stocks plunged, gauges of market sentiment indicated that investors were becoming more risk-averse and parking their money in defensive assets. The yield on the 10-year Treasury note, which is widely considered an ultra-safe investment, fell sharply as investors plowed money into U.S. government bonds. The yield fell to 1.88 percent from 1.96 percent late Friday. 

The VIX index, a measure of how volatile investors expect the stock market to be, surged 34 percent to 19, the biggest one-day move since August 2011. 

On the New York Stock Exchange, Barnes & Noble rose $1.55, or 12 percent, to $15.06 after founder and chairman Leonard Riggio told the bookseller he is going to try to buy the company's retail business. Hertz advanced 31 cents, or 1.7 percent, to $19.04, despite posting a fourth-quarter loss, after the rental car company said that pricing improved, volume rose and it cut costs. 

The Standard & Poor's 500 had its first weekly decline of the year last week. Investors sent stocks plunging after minutes from the Federal Reserve's latest policy meeting revealed disagreement over how long to keep buying bonds in an effort to boost the economy. 

Fed chairman Ben Bernanke will testify before the U.S. Senate's banking committee Tuesday and again before Congress on Wednesday. Investors will watch to see if he gives any further indications about how long the central bank intends to keep providing stimulus to the economy. 

Many analysts say the Fed's bond-buying program and the resulting low interest rates have been a big driver behind this year's stock rally. The Dow has gained 6.3 percent this year and the S&P 500 5.6 percent, pushing both near record levels. The Dow's record close is 14,164, reaching in October 2007 and the S&P closed as high as 1,565 in the same month. 

European stocks also advanced, but gave back much of their early gains. Benchmark indexes rose 0.4 percent in France, 1.5 percent in Germany and 0.8 percent in Spain. Britain's index was up just 0.3 percent after Moody's stripped the country late Friday of its triple-A credit rating. 

Among other stocks making big moves: 

”” Drugmaker Affymax plunged $14.10, or 85 percent, to $2.42 after the company recalled its anemia drug following severe allergic reactions and the deaths of some kidney dialysis patients. 

””Mead Johnson fell $3.64, or 4.6 percent, to $75.32 after the company said that a new regulation in Hong Kong could affect the company's sales there as well as in mainland China.


----------



## bigdog

Source: http://finance.yahoo.com 

A jump in home sales and strong earnings from Home Depot helped the Dow claw back more than half of its losses from Monday. Improving consumer confidence also brought back buyers to the market. 

The Dow Jones industrial average closed up 115.96 points, or 0.8 percent, to 13,900.13. The Dow fell 216 points the day before, its biggest drop in three months, on concern that the European debt crisis may flare up again. The index has moved 100 points or more on four out of the past five trading days. 

The Standard & Poor's 500 index rose 9.09 points, or 0.6 percent, to 1,496.94. The Nasdaq composite was up 13.40 points, or 0.4 percent, at 3,129.65. 

Home Depot, the biggest home improvement store chain in the country, jumped $3.64, or 5.7 percent, to $67.56 after reporting that its income rose 32 percent in the latest quarter thanks to strong U.S. sales and the cleanup that followed Superstorm Sandy. That made it the biggest gainer in the Dow, accounting for about 28 points, or about a quarter, of its advance. 

"Companies on the whole, particularly U.S. companies, are doing well," Michael Mussio, a portfolio manager at FBB Capital, said. 

Strong earnings from home improvement companies, such as Home Depot and Lowe's, which reported earnings Monday that beat Wall Street forecasts, compounded evidence that the U.S. housing market is maintaining its recovery, Mussio said. Also Tuesday, the government reported that sales of new homes jumped 16 percent last month to the highest level since July 2008. 

The report boosted housing companies, which led the S&P 500 higher. PulteGroup rose $1.03, or 5.7 percent, to $19.05, edging out Home Depot as the biggest gainer in the index. D.R. Horton advanced 88 cents, or 4.12 percent, to $22.25 and Lennar Corp. rose $1.35, or 3.7 percent, to $38.01. 

The rebounding housing sector has been an important factor behind a rally that pushed the Dow above 14,000 last week, close to its record high close of 14,164 reached in October 2007. The Dow is still up 6 percent this year, even after Monday's sell-off. The S&P 500 is up 5 percent. 

Also Tuesday, a measure of consumer confidence rose sharply, reversing three months of declines, as shoppers began adjusting to a payroll tax hike last month. 

Investors closely watched testimony by Federal Reserve Chairman Ben Bernanke. The Fed chairman said that the automatic government spending cuts due to take effect Friday would put a drag on the economy. He urged lawmakers and the White House to replace the cuts with longer-term policies to reduce the budget deficit. 

Investors shouldn't be dissuaded from buying stocks by any flare-up in Europe's economic troubles, says Hans Olsen, a strategist at Barclays. The strategist says stocks should have a good year thanks to earnings growth and a pickup in corporate dealmaking. 

 *The NYSE DOW closed  	HIGHER ▲	115.96	points or ▲	0.84%	Tuesday, 26 February 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	13,900.13	▲	115.96	▲	0.84%	
	Nasdaq____	3,129.65	▲	13.40	▲	0.43%	
	S&P_500____	1,496.94	▲	9.09	▲	0.61%	
	30_Yr_Bond____	3.075	▼	-0.02	▼	-0.49%	

NYSE Volume	 4,416,358,000 			 		 	
Nasdaq Volume	 1,847,059,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,270.44	▼	-84.93	▼	-1.34%	
	DAX_____	7,597.11	▼	-176.08	▼	-2.27%	
	CAC_40__	3,621.92	▼	-99.41	▼	-2.67%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,021.80	▼	-50.90	▼	-1.00%	
	Shanghai_Comp	2,293.34	▼	-32.48	▼	-1.40%	
	Taiwan_Weight	7,880.90	▼	-66.78	▼	-0.84%	
	Nikkei_225____	11,398.81	▼	-263.71	▼	-2.26%	
	Hang_Seng____	22,519.69	▲	53.93	▼	-1.32%	
	Strait_Times___	3,254.26	▼	-34.50	▼	-1.05%	
	NZX_50_Index__	4,238.92	▲	12.47	▲	0.30%	

http://finance.yahoo.com/news/home-...MEcHQDc2VjdGlvbnMEdGVzdANUZXN0X0FGQw--;_ylv=3

*Home Depot leads Dow average higher

Stocks bounce back on Wall Street; Home Depot leads Dow advance on stronger earnings*

By Steve Rothwell, AP Business Writer

A jump in home sales and strong earnings from Home Depot helped the Dow claw back more than half of its losses from Monday. Improving consumer confidence also brought back buyers to the market. 

The Dow Jones industrial average closed up 115.96 points, or 0.8 percent, to 13,900.13. The Dow fell 216 points the day before, its biggest drop in three months, on concern that the European debt crisis may flare up again. The index has moved 100 points or more on four out of the past five trading days. 

The Standard & Poor's 500 index rose 9.09 points, or 0.6 percent, to 1,496.94. The Nasdaq composite was up 13.40 points, or 0.4 percent, at 3,129.65. 

Home Depot, the biggest home improvement store chain in the country, jumped $3.64, or 5.7 percent, to $67.56 after reporting that its income rose 32 percent in the latest quarter thanks to strong U.S. sales and the cleanup that followed Superstorm Sandy. That made it the biggest gainer in the Dow, accounting for about 28 points, or about a quarter, of its advance. 

"Companies on the whole, particularly U.S. companies, are doing well," Michael Mussio, a portfolio manager at FBB Capital, said. 

Strong earnings from home improvement companies, such as Home Depot and Lowe's, which reported earnings Monday that beat Wall Street forecasts, compounded evidence that the U.S. housing market is maintaining its recovery, Mussio said. Also Tuesday, the government reported that sales of new homes jumped 16 percent last month to the highest level since July 2008. 

The report boosted housing companies, which led the S&P 500 higher. PulteGroup rose $1.03, or 5.7 percent, to $19.05, edging out Home Depot as the biggest gainer in the index. D.R. Horton advanced 88 cents, or 4.12 percent, to $22.25 and Lennar Corp. rose $1.35, or 3.7 percent, to $38.01. 

The rebounding housing sector has been an important factor behind a rally that pushed the Dow above 14,000 last week, close to its record high close of 14,164 reached in October 2007. The Dow is still up 6 percent this year, even after Monday's sell-off. The S&P 500 is up 5 percent. 

Also Tuesday, a measure of consumer confidence rose sharply, reversing three months of declines, as shoppers began adjusting to a payroll tax hike last month. 

Investors closely watched testimony by Federal Reserve Chairman Ben Bernanke. The Fed chairman said that the automatic government spending cuts due to take effect Friday would put a drag on the economy. He urged lawmakers and the White House to replace the cuts with longer-term policies to reduce the budget deficit. 

Investors shouldn't be dissuaded from buying stocks by any flare-up in Europe's economic troubles, says Hans Olsen, a strategist at Barclays. The strategist says stocks should have a good year thanks to earnings growth and a pickup in corporate dealmaking. 

Deals have accelerated sharply in the last three months and have involved household names including Heinz, Dell and American Airlines. Some of the acquired companies soared 20 percent or more when the deals are announced. 

It's not yet clear how the recent see-saw in the market will affect investors. Individual investors have been creeping back into stocks since the start of this year, but the swings might yet unnerve them. 

"The gyrations worry them, it scares them, even though the market is up," says Gabriel Fancher, an adviser at the Financial Group, a financial planner. "The market seems out of people's hands these days." 

Tuesday's good news about the economy in the U.S. helped investors turn their focus away from Europe. 

While U.S. market rose, European markets fell again as investors worried about Italy's political situation. The country is facing political gridlock after elections left Parliament with no clear-cut winner. 

U.S. stocks slumped Monday after election results in Italy showed a race too close to call. That left investors fearful that the country, the euro region's third-largest, will struggle to form a government that can move forward with reforms to revive the economy, rekindling the region's debt crisis and worries over the viability of its shared currency, the euro. 

Italy's main stock index dropped 4.9 percent Tuesday. The yield on Italy's benchmark government bond rose sharply, to 4.83 percent from 4.43 percent the day before, as investors sold them. That's still far below the 7 percent the yield traded at in January 2012, when confidence in Italy's finances was far lower. The euro was little changed against the dollar. 

Other European indexes also fell, but not as much. Stocks fell 2.3 percent in Germany, 2.7 percent in France, and 1.3 percent in Britain. 

In U.S. government bond trading, the yield on the 10-year Treasury note, which moves inversely to prices, rose two basis points to 1.88 percent. 

Among other companies making big moves Tuesday; 

”” Tyson Foods fell 86 cents, or 3.7 percent, to $22.40 after it said that its fiscal second quarter has been tougher than expected because of lower margins in its beef and pork divisions. The nation's biggest meat company said it's still optimistic about its full-year results. 

”” Oneok fell $1.86, or 4 percent, to $44.34 after the natural gas company cut its distribution growth forecast for the next three years, citing expectations of lower sales volumes and prices of natural gas liquids. 

”” Martha Stewart Living Omnimedia fell 16 cents, or 5.3 percent, to $2.85 after the company said its fourth-quarter net income slid 74 percent as it continues to struggle with weak results at its publishing and broadcasting divisions. 

”” Macy's rose $1.33, or 3.5 percent, to $39.85 after its results beat analysts' forecasts.


----------



## bigdog

Source: http://finance.yahoo.com 

The Dow came within 100 points of its all-time high Wednesday after rising sharply for a second straight day. 

The market surged following more evidence that the Fed will keep interest rates low, housing will keep recovering and shoppers aren't pulling back on spending, even with a payroll tax hike. 

The gains were broad: Twenty-nine of 30 stocks in the Dow Jones industrial average rose. All 10 industries in the Standard and Poor's 500 index climbed. 

The Dow Jones industrial average rose 175.24 points, or 1.2 percent, to 14,075.37. The index is now less than 100 points away from its record close of 14,164 reached in October 2007. 

The Dow has surged 290 points in the past two days, erasing its drop of 216 points Monday when inconclusive results from an election in Italy renewed worries that Europe's fiscal crisis could flare up again. 

"The market psychology has clearly shifted. It's no longer sell the rally, it's buy the dips," said Dan Veru, chief investment officer of Palisade Capital Management. "The economic data continues to be strong." 

Stocks have surged since the start of the year. The Dow is up 7.4 percent. 

Earnings for S&P 500 companies will climb 7.8 percent in the fourth quarter, the third straight quarter of growth, according to data from S&P Capital IQ. 

The Standard and Poor's 500 index gained 19.05 points, or 1.3 percent, to 1,515.99. The Nasdaq composite rose 32.61 points, or 1.3 percent, to 3,162.26. The index is 6.5 percent higher for the year, and is about 3.1 percent short of its record close of 1,565. 

Investors were also encouraged Wednesday that Federal Reserve Chairman Ben Bernanke stood behind the central bank's low-interest-rate policies as he faced lawmakers for a second day. His comments dissipated worries about the bank's resolve to keep up the program. Those worries sprung up last week when minutes from the bank's last policy meeting revealed disagreement among Fed officials. 

 *The NYSE DOW closed  	HIGHER ▲	175.24	points or ▲	1.26%	Wednesday, 27 February 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,075.37	▲	175.24	▲	1.26%	
	Nasdaq____	3,162.26	▲	32.61	▲	1.04%	
	S&P_500____	1,515.99	▲	19.05	▲	1.27%	
	30_Yr_Bond____	3.100	▲	0.03	▲	0.91%	

NYSE Volume	 3,911,767,250 			 		 	
Nasdaq Volume	 1,726,024,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,325.88	▲	55.44	▲	0.88%	
	DAX_____	7,675.83	▲	78.72	▲	1.04%	
	CAC_40__	3,691.49	▲	69.57	▲	1.92%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,053.10	▲	31.30	▲	0.62%	
	Shanghai_Comp	2,313.22	▲	19.88	▲	0.87%	
	Taiwan_Weight	7,897.98	▲	17.08	▲	0.22%	
	Nikkei_225____	11,253.97	▼	-144.84	▼	-1.27%	
	Hang_Seng____	22,577.01	▲	53.93	▲	0.25%	
	Strait_Times___	3,261.12	▲	6.86	▲	0.21%	
	NZX_50_Index__	4,276.32	▲	37.40	▲	0.88%	

http://finance.yahoo.com/news/stock...MEcHQDc2VjdGlvbnMEdGVzdANUZXN0X0FGQw--;_ylv=3

*Stocks surge on housing; Dow nears record

Dow nears record after strong housing report; back-to-back gains erase Monday's big drop*

By Steve Rothwell, AP Business Writer 

The Dow came within 100 points of its all-time high Wednesday after rising sharply for a second straight day. 

The market surged following more evidence that the Fed will keep interest rates low, housing will keep recovering and shoppers aren't pulling back on spending, even with a payroll tax hike. 

The gains were broad: Twenty-nine of 30 stocks in the Dow Jones industrial average rose. All 10 industries in the Standard and Poor's 500 index climbed. 

The Dow Jones industrial average rose 175.24 points, or 1.2 percent, to 14,075.37. The index is now less than 100 points away from its record close of 14,164 reached in October 2007. 

The Dow has surged 290 points in the past two days, erasing its drop of 216 points Monday when inconclusive results from an election in Italy renewed worries that Europe's fiscal crisis could flare up again. 

"The market psychology has clearly shifted. It's no longer sell the rally, it's buy the dips," said Dan Veru, chief investment officer of Palisade Capital Management. "The economic data continues to be strong." 

Stocks have surged since the start of the year. The Dow is up 7.4 percent. 

Earnings for S&P 500 companies will climb 7.8 percent in the fourth quarter, the third straight quarter of growth, according to data from S&P Capital IQ. 

The Standard and Poor's 500 index gained 19.05 points, or 1.3 percent, to 1,515.99. The Nasdaq composite rose 32.61 points, or 1.3 percent, to 3,162.26. The index is 6.5 percent higher for the year, and is about 3.1 percent short of its record close of 1,565. 

Investors were also encouraged Wednesday that Federal Reserve Chairman Ben Bernanke stood behind the central bank's low-interest-rate policies as he faced lawmakers for a second day. His comments dissipated worries about the bank's resolve to keep up the program. Those worries sprung up last week when minutes from the bank's last policy meeting revealed disagreement among Fed officials. 

Also, the number of Americans who signed contracts to buy homes rose in January from December to the highest level in almost three years. The report continued a string of positive housing news. Sales of new homes jumped 16 percent last month to the highest level since July 2008, the government reported Tuesday. 

Home builder stocks rose for the second day in a row. PulteGroup climbed 25 cents, or 1.3 percent, to $19.30, after rising 5.7 percent the day before. The government reported Tuesday that sales of new homes jumped 16 percent last month. 

"Some encouraging news for the bulls has been the housing data that has come out over the past couple of days," said Todd Salamone, director of research at Schaeffer's Investment Research. 

The analyst said he remained "extremely bullish," on stocks in the medium and long-term, but cautioned that a pullback may lie ahead in coming days after the year's strong gains. 

Discount retailers rose Wednesday. Dollar Tree jumped $4.31, or 11 percent, to $45.39 after reporting a 22 percent profit increase. Dollar General also rose $1.61, or 3.6 percent, to $46.56. Family Dollar Stores rose $1.39, or 2.5 percent, to $57.68. 

The yield on the 10-year Treasury note rose two basis points to 1.90 percent. 

Among other stocks making big moves; 

”” Priceline.com rose $17.42 to $695.91 after reporting that its net income jumped in the fourth quarter as bookings grew. 

”” First Solar plunged $4.32, or 13.8 percent, to $27.04 after the company posted disappointing sales for the fourth quarter and gave a weak early outlook for the year. 

”” Target fell 93 cents, or 1.5 percent, to $63.12 after the No. 2 discount chain's quarterly income fell 2 percent as it dealt with intense competition during the holiday shopping season. 

”” DreamWorks Animation fell 30 cents, or 1.8 percent, to $16.31 after posting a loss of $82.7 million. The company booked a write-off on its November release "Rise of the Guardians" and on an upcoming movie that needs to be reworked.


----------



## bigdog

Source: http://finance.yahoo.com 

It came oh so close. 

The Dow Jones industrial average came within 15 points of its all-time high Thursday afternoon. But the momentum petered out, and the Dow and other indexes broke a two-day winning streak and closed lower. 

Economic data and company reports reflected an economy beating investors' low expectations, rather than one growing like gangbusters. Impending government budget cuts also cast a pall for some investors. 

"There was no dramatic, great news," said Leon LaBrecque, CEO of LJPR in Troy, Mich. "There's no remarkable economic information. Earnings are pretty much mixed." 

The day started with the stock market plodding along indecisively, before sending investors on a whipsaw day. After gaining a combined 291 points on Tuesday and Wednesday, the Dow Jones industrial average spent Thursday morning darting between small gains and losses. 

It took a decisive turn upward in the early afternoon. Around 2:30 p.m. EST, it hit 14,149 ”” just 15 points from the Oct. 9, 2007 record of 14,164.53. 

Then the rally sputtered and stocks turned lower in the final few minutes of trading. 

The Dow ended down 20.88 points, or 0.2 percent, to 14,054.49. The Standard & Poor's 500 index slipped 1.31, or 0.09 percent, to 1,514.68. The Nasdaq composite index edged down 2.07, or 0.07 percent, to 3,160.19. 

Some said the market's fleeting gain Thursday was more about its general tendency to rise over time, and not necessarily a reflection of a surge in strength for the U.S. economy. 

"People have to separate the economy from the stock market," Ed Butowsky, managing partner of ChapwoodFinance.com in Dallas, said. 

Thursday's data didn't provide a clear picture on the economy.

 *The NYSE DOW closed  	LOWER ▼	-20.88	points or ▼	-0.15%	Thursday, 28 February 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,054.49	▼	-20.88	▼	-0.15%	
	Nasdaq____	3,160.19	▼	-2.07	▼	-0.07%	
	S&P_500____	1,514.68	▼	-1.31	▼	-0.09%	
	30_Yr_Bond____	3.094	▼	-0.01	▼	-0.29%	

NYSE Volume	 4,185,971,750 			 		 	
Nasdaq Volume	 2,012,783,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,360.81	▲	34.93	▲	0.55%	
	DAX_____	7,741.70	▲	65.87	▲	0.86%	
	CAC_40__	3,723.00	▲	31.51	▲	0.85%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,120.40	▲	67.30	▲	1.33%	
	Shanghai_Comp	2,365.59	▲	52.37	▲	2.26%	
	Taiwan_Weight	7,897.98	▲	17.08	▲	0.22%	
	Nikkei_225____	11,559.36	▲	305.39	▲	2.71%	
	Hang_Seng____	23,020.27	▲	53.93	▲	1.96%	
	Strait_Times___	3,269.95	▲	8.83	▲	0.27%	
	NZX_50_Index__	4,320.01	▲	43.69	▲	1.02%	

http://finance.yahoo.com/news/dow-edges-near-record-then-220210871.html

It came oh so close. 

The Dow Jones industrial average came within 15 points of its all-time high Thursday afternoon. But the momentum petered out, and the Dow and other indexes broke a two-day winning streak and closed lower. 

Economic data and company reports reflected an economy beating investors' low expectations, rather than one growing like gangbusters. Impending government budget cuts also cast a pall for some investors. 

"There was no dramatic, great news," said Leon LaBrecque, CEO of LJPR in Troy, Mich. "There's no remarkable economic information. Earnings are pretty much mixed." 

The day started with the stock market plodding along indecisively, before sending investors on a whipsaw day. After gaining a combined 291 points on Tuesday and Wednesday, the Dow Jones industrial average spent Thursday morning darting between small gains and losses. 

It took a decisive turn upward in the early afternoon. Around 2:30 p.m. EST, it hit 14,149 ”” just 15 points from the Oct. 9, 2007 record of 14,164.53. 

Then the rally sputtered and stocks turned lower in the final few minutes of trading. 

The Dow ended down 20.88 points, or 0.2 percent, to 14,054.49. The Standard & Poor's 500 index slipped 1.31, or 0.09 percent, to 1,514.68. The Nasdaq composite index edged down 2.07, or 0.07 percent, to 3,160.19. 

Some said the market's fleeting gain Thursday was more about its general tendency to rise over time, and not necessarily a reflection of a surge in strength for the U.S. economy. 

"People have to separate the economy from the stock market," Ed Butowsky, managing partner of ChapwoodFinance.com in Dallas, said. 

Thursday's data didn't provide a clear picture on the economy. 

Company earnings were mixed. J.C. Penney and Barnes & Noble posted losses. Wendy's and Domino's had higher profits. The U.S. economy grew at an annual rate of 0.1 percent in the last three months of 2012 ”” better than the original estimate of a 0.1 percent decline, but hardly robust. The number of Americans seeking unemployment aid fell, and the government prepared for federal spending cuts to kick in Friday, a result of Democrats and Republicans not compromising on the budget debate. 

"We still have work to do, still a lot of headwinds to face," said Steve Sachs, head of capital markets at ProShares in Bethesda, Md. But, he added, "we're in a better position now than we were three years ago." 

Thursday's close means the Dow rose 1.4 percent in February ”” respectable, but a slowdown from its 5.8 percent gain in January. 

The Dow milestone doesn't mean much in practical terms. It's an index of 30 big-name stocks, such as Disney and General Electric, that investors follow as a gauge of how the overall stock market is doing. But professional investors don't change their strategy because of it. 

Even so, a Dow record would be important for psychological reasons: It can make people feel like the economy is doing better. That can induce them to spend and invest more. And it reminds people of a time before the financial crisis, which peaked in 2008. 

The yield on the 10-year Treasury note held steady at about 1.90 percent. 

Among stocks making big moves: 

””Groupon, the coupons website, plunged 24 percent after reporting late Wednesday that its quarterly loss had expanded. The stock fell $1.45 to $4.53. 

””J.C. Penney fell 17 percent after the department store reported a higher-than-expected quarterly loss late Wednesday. The stock dropped $3.59 to $17.57. 

”” Wendy's, Domino's, clothing chain Chico's and energy drink maker Monster Beverage all rose after reporting higher profit and revenue. 

””Barnes & Noble climbed 3 percent, up 51 cents to $15.74. The bookstore chain posted a loss, though its CEO confirmed that the company was still in talks with its founder about a partial buyout.


----------



## bigdog

Source: http://finance.yahoo.com 

An encouraging manufacturing report nudged the stock market higher Friday, giving it a slight gain for the week, even as a deadline for avoiding sweeping government spending cuts loomed. 

The Dow Jones industrial average rose 35.17 points, or 0.3 percent, to close at 14,089.66. 

It was down as much as 117 points in early trading but recovered following news that U.S. manufacturing expanded in February at the fastest pace since June 2011. The Institute for Supply Management said its manufacturing index reached 54.2, up from January's reading of 53.1. Any reading above 50 signals growth. 

President Barack Obama summoned congressional leaders to the White House for a meeting aimed at avoiding the $85 billion in across-the-board spending cuts set to kick in Friday. The cuts are part of a 10-year, $1.5 trillion deficit reduction plan that was designed to be so distasteful to both Democrats and Republicans that they would be forced to drum up a longer-term budget deal. 

Any agreement between the White House and Congress on the spending cuts could drive the market up next week, regardless of whether investors consider it a good deal or not, said Stephen Carl, head equity trader at The Williams Capital Group in New York. 

"The lack of clarity is the problem," he said. "I think it will be a positive for the market just as long as there's concrete news." 

In other Friday trading, the Standard & Poor's 500 index rose 3.52 points, or 0.2 percent, to 1,518.20. The Nasdaq composite gained 9.55 points, 0.3 percent, to 3,169.74. 

All three indexes ended higher for the week: The Dow rose 0.6 percent, the S&P 500 and Nasdaq each rose about 0.2 percent. 

The Dow came within 15 points of its record close of 14,164 on Thursday before sliding back and ending the day lower. 

Oil and gas companies fell Friday as the price of crude sank to its lowest level of the year. Halliburton, Peabody Energy and other energy stocks were among the biggest losers in the S&P 500. Benchmark U.S. crude oil dropped below $91 a barrel. 

Americans' incomes fell 3.6 percent in January, the worst one-month drop in 20 years, the Commerce Department said Friday. U.S. consumers increased spending modestly in January but cut back on major purchases. The report suggests that the expiration of tax cuts on Jan. 1 may have made Americans more cautious. 

 *The NYSE DOW closed  	HIGHER ▲	35.17	points or ▲	0.25%	Friday, 1 March 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,089.66	▲	35.17	▲	0.25%	
	Nasdaq____	3,169.74	▲	9.55	▲	0.30%	
	S&P_500____	1,518.20	▲	3.52	▲	0.23%	
	30_Yr_Bond____	3.065	▼	-0.03	▼	-0.94%	

NYSE Volume	 4,125,383,750 			 		 	
Nasdaq Volume	 1,869,785,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,378.60	▲	17.79	▲	0.28%	
	DAX_____	7,708.16	▼	-33.54	▼	-0.43%	
	CAC_40__	3,699.91	▼	-23.09	▼	-0.62%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,100.90	▼	-19.50	▼	-0.38%	
	Shanghai_Comp	2,359.51	▼	-6.09	▼	-0.26%	
	Taiwan_Weight	7,964.63	▲	66.65	▲	0.84%	
	Nikkei_225____	11,606.38	▲	47.02	▲	0.41%	
	Hang_Seng____	22,880.22	▲	53.93	▼	-0.61%	
	Strait_Times___	3,269.50	▼	-0.45	▼	-0.01%	
	NZX_50_Index__	4,317.99	▼	-2.02	▼	-0.05%	

http://finance.yahoo.com/news/stock...MEcHQDc2VjdGlvbnMEdGVzdANUZXN0X0FGQw--;_ylv=3

*Stocks close higher despite looming budget cuts

Stocks manage slight gains as spending cuts loom; indexes move between small gains and losses*

By Matthew Craft, AP Business Writer

An encouraging manufacturing report nudged the stock market higher Friday, giving it a slight gain for the week, even as a deadline for avoiding sweeping government spending cuts loomed. 

The Dow Jones industrial average rose 35.17 points, or 0.3 percent, to close at 14,089.66. 

It was down as much as 117 points in early trading but recovered following news that U.S. manufacturing expanded in February at the fastest pace since June 2011. The Institute for Supply Management said its manufacturing index reached 54.2, up from January's reading of 53.1. Any reading above 50 signals growth. 

President Barack Obama summoned congressional leaders to the White House for a meeting aimed at avoiding the $85 billion in across-the-board spending cuts set to kick in Friday. The cuts are part of a 10-year, $1.5 trillion deficit reduction plan that was designed to be so distasteful to both Democrats and Republicans that they would be forced to drum up a longer-term budget deal. 

Any agreement between the White House and Congress on the spending cuts could drive the market up next week, regardless of whether investors consider it a good deal or not, said Stephen Carl, head equity trader at The Williams Capital Group in New York. 

"The lack of clarity is the problem," he said. "I think it will be a positive for the market just as long as there's concrete news." 

In other Friday trading, the Standard & Poor's 500 index rose 3.52 points, or 0.2 percent, to 1,518.20. The Nasdaq composite gained 9.55 points, 0.3 percent, to 3,169.74. 

All three indexes ended higher for the week: The Dow rose 0.6 percent, the S&P 500 and Nasdaq each rose about 0.2 percent. 

The Dow came within 15 points of its record close of 14,164 on Thursday before sliding back and ending the day lower. 

Oil and gas companies fell Friday as the price of crude sank to its lowest level of the year. Halliburton, Peabody Energy and other energy stocks were among the biggest losers in the S&P 500. Benchmark U.S. crude oil dropped below $91 a barrel. 

Americans' incomes fell 3.6 percent in January, the worst one-month drop in 20 years, the Commerce Department said Friday. U.S. consumers increased spending modestly in January but cut back on major purchases. The report suggests that the expiration of tax cuts on Jan. 1 may have made Americans more cautious. 

Unemployment across the 17 European Union countries that use the euro currency hit a record 11.9 percent during January. That drove money into U.S. Treasurys, pushing their prices up and their yields down. 

The yield on the 10-year Treasury note fell to 1.85 percent from 1.88 percent late Thursday. 

Among other stocks making big moves: 

”” Gap added 95 cents to $33.87. The retailer said late Thursday that its quarterly profits jumped 61 percent, topping analysts' estimates, helped by better sales at its Old Navy stores. Gap also raised its quarterly dividend to 15 cents. 

”” Best Buy Co. rose 75 cents to $17.16 after the retailer said that its fourth-quarter loss narrowed as better sales in the U.S. helped offset weakness abroad, particularly China and Canada. 

”” Groupon jumped 13 percent following news that CEO Andrew Mason was fired. The online deals company's stock plunged 24 percent Thursday after the company delivered a weak revenue forecast for the current quarter. Its stock gained 57 cents to $5.11

6600


----------



## bigdog

Source: http://finance.yahoo.com 

Investors brushed off early jitters about a potential slowdown in China and pushed the Dow to its highest close of the year. 

The Dow Jones industrial average rose 38.16 points, or 0.3 percent, to 14,127.82. The index is a fraction of a percentage point away from its record close of 14,164, reached on Oct. 9, 2007. 

Stocks dropped at the opening bell and stayed lower most of the morning amid concern that new steps introduced by the Chinese government to cool the booming housing market in the world's second-largest economy. 

Chinese markets were dragged down by housing stocks, which fell sharply after the country's cabinet ordered new measures to rein in home prices. China will raise minimum down payments in areas where prices are deemed to be rising too fast and crack down on efforts to evade limits on how many properties each buyer can acquire. 

"The U.S. market continues to digest the negative news and hang tough," said Ryan Detrick, a senior strategist at Schaeffer's Investment Research. 

The stock market has rallied this year on optimism that the U.S. housing market is recovering and signs that companies are hiring more. Strong corporate earnings and continuing economic stimulus from the Federal Reserve have also boosted stock prices. 

Despite having already logged strong gains this year, stocks may still be able to maintain their momentum as investors move money out of bonds, Rob Lutts, chief investment officer at Cabot Money Management, said. 

"It's all about where the money is going," Lutts said. "If the money that is sitting on the sideline, or in bonds, is moving into equities that alone is enough to create that shift." 

Investors put $2.8 billion into U.S. stock mutual funds in the week ending Feb. 27, according to Lipper. That's the eighth straight week investors have put more money into stocks, the longest streak of inflows in almost two years. 

The Dow has risen 7.8 percent so far this year and the S&P 500 index is 6.9 percent higher, while the yield on the 10-year Treasury note remains below 2 percent. The yield, which moves inversely to its price, rose 3 basis points to 1.87 percent Monday. 

For now, stocks are likely to grind higher as investors who missed the rally at the start of the year buy stocks on any drops in the market, Scott Wren, a senior equity strategist at Wells Fargo Advisors, said. 

"I'd love to see a pullback, because pullbacks are opportunities," Wren said. 

 *The NYSE DOW closed  	HIGHER ▲	38.16	points or ▲	0.27%	Monday, 4 March 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,127.82	▲	38.16	▲	0.27%	
	Nasdaq____	3,182.03	▲	12.29	▲	0.39%	
	S&P_500____	1,525.20	▲	7.00	▲	0.46%	
	30_Yr_Bond____	3.086	▲	0.02	▲	0.69%	

NYSE Volume	 3,729,709,000 			 		 	
Nasdaq Volume	 1,724,532,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,345.63	▼	-32.97	▼	-0.52%	
	DAX_____	7,691.68	▼	-16.48	▼	-0.21%	
	CAC_40__	3,709.76	▲	9.85	▲	0.27%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,028.50	▼	-72.40	▼	-1.42%	
	Shanghai_Comp	2,273.40	▼	-86.10	▼	-3.65%	
	Taiwan_Weight	7,867.34	▼	-97.29	▼	-1.22%	
	Nikkei_225____	11,652.29	▲	45.91	▲	0.40%	
	Hang_Seng____	22,537.81	▲	53.93	▼	-1.50%	
	Strait_Times___	3,239.95	▼	-29.55	▼	-0.90%	
	NZX_50_Index__	4,253.60	▼	-64.39	▼	-1.49%	

http://finance.yahoo.com/news/stocks-grind-higher-pushing-dow-213012170.html

*Stocks grind higher, pushing Dow toward record

Dow rises to highest close of the year as investors shrug off China worries*

By Steve Rothwell, AP Markets Writer 

Investors brushed off early jitters about a potential slowdown in China and pushed the Dow to its highest close of the year. 

The Dow Jones industrial average rose 38.16 points, or 0.3 percent, to 14,127.82. The index is a fraction of a percentage point away from its record close of 14,164, reached on Oct. 9, 2007. 

Stocks dropped at the opening bell and stayed lower most of the morning amid concern that new steps introduced by the Chinese government to cool the booming housing market in the world's second-largest economy. 

Chinese markets were dragged down by housing stocks, which fell sharply after the country's cabinet ordered new measures to rein in home prices. China will raise minimum down payments in areas where prices are deemed to be rising too fast and crack down on efforts to evade limits on how many properties each buyer can acquire. 

"The U.S. market continues to digest the negative news and hang tough," said Ryan Detrick, a senior strategist at Schaeffer's Investment Research. 

The stock market has rallied this year on optimism that the U.S. housing market is recovering and signs that companies are hiring more. Strong corporate earnings and continuing economic stimulus from the Federal Reserve have also boosted stock prices. 

Despite having already logged strong gains this year, stocks may still be able to maintain their momentum as investors move money out of bonds, Rob Lutts, chief investment officer at Cabot Money Management, said. 

"It's all about where the money is going," Lutts said. "If the money that is sitting on the sideline, or in bonds, is moving into equities that alone is enough to create that shift." 

Investors put $2.8 billion into U.S. stock mutual funds in the week ending Feb. 27, according to Lipper. That's the eighth straight week investors have put more money into stocks, the longest streak of inflows in almost two years. 

The Dow has risen 7.8 percent so far this year and the S&P 500 index is 6.9 percent higher, while the yield on the 10-year Treasury note remains below 2 percent. The yield, which moves inversely to its price, rose 3 basis points to 1.87 percent Monday. 

For now, stocks are likely to grind higher as investors who missed the rally at the start of the year buy stocks on any drops in the market, Scott Wren, a senior equity strategist at Wells Fargo Advisors, said. 

"I'd love to see a pullback, because pullbacks are opportunities," Wren said. 

Janet Yellen, vice chair of the Federal Reserve, said Monday she does not see risks at the moment from the U.S. central bank's low-interest rate policies. The Fed is buying $85 billion each month in Treasury and mortgage-backed securities to keep long-term interest rates very low. 

Investors' enthusiasm is being held in check by the automatic government budget cuts that took effect Friday after President Barack Obama and Congress failed to reach a budget deal. Economists expect the cuts to hurt U.S. economic growth. Both Republicans and Democrats pledged to retroactively undo the cuts, but they have given no indication of how that process would take shape. 

In other trading, the Standard & Poor's 500 rose 7 points, or 0.5 percent, to 1,525.20. The Nasdaq composite gained 12.29 points, or 0.4 percent, to 3,182.03. 

European markets were mixed. The dollar was little changed against the euro. 

Among other stocks making big moves: 

”” Select Comfort, a manufacturer of specialty mattresses, fell $3.23, or 15.7 percent, to $17.28 after the company warned that it will likely fall short of its first-quarter goals as a result of lower-than-expected sales. 

”” Hess gained $2.30, or 3.5 percent, to $68.84 after the company said it would get out of the retail business as well as energy trading and marketing to focus on exploration and production. 

”” Yahoo! rose 76 cents, or 3.5 percent, to $22.70 after Barclays analysts raised their rating on the stock to "overweight" and increased their price target to $26. The bank says the value of the company's minority stakes in Alibaba Group and Yahoo! Japan are not fully reflected in the current stock price. 

”” Apple fell $10.40, or 2.4 percent, to $420. The stock has now fallen 12 out the last 14 trading days and is trading at its lowest in a year. 

”” Stratasys Ltd., a maker of three-dimensional "printers," gained $4.56, or 7.1 percent, to $68.82 after its latest results beat analysts' expectations for the quarter. The company issued a full-year sales forecast that was higher than analysts were expecting.


----------



## bigdog

Source: http://finance.yahoo.com 

The Dow closed at an all-time high Tuesday, beating the previous record it set in October 2007, before the financial crisis and Great Recession. 

The Dow Jones industrial average closed at 14,253.77, up 125.95 points, or 0.89 percent. The index jumped from the opening bell, climbed as much as 158 points early and peaked at 14,286. 

Twenty seven stocks in the 30-member Dow advanced, with industrial companies leading the gains. 

The gains represent a remarkable comeback for the stock market. The Dow has more than doubled since falling to a low of 6,547 in March 2009 following the financial crisis and the onset of the Great Recession. Stocks have rebounded sharply since then, helped by stimulus from the Federal Reserve, even as the economic recovery has been slow and steady. 

"Whether they want to admit it or not, everyone is very impressed with the resilience of the market," said Alec Young, a global equity strategist at S&P Capital IQ. 

The last time the Dow was this high, Apple had just sold its first iPhone and George W. Bush had another year as president. The U.S. housing market had yet to bottom, and the financial crisis that brought down Lehman Brothers was still a year away. 

The recovery in stocks may even have been quicker had memories of the financial system's near-collapse not been on investors' minds, said Robert Pavlik, chief market strategist at Banyan Partners. 

"It's still pretty close to the front of people's brains," he said. "That's one of the reasons that people are hesitant to invest in the stock market." 

That could be changing. More money has been flowing into stock mutual funds since the beginning of the year. 

Now, investors who have missed out on the run-up may be deciding to get off the sidelines, Pavlik said. 

The Dow opened higher Tuesday following a surge in markets across the globe. China's markets rose after the government said it would support ambitious growth targets. European markets jumped following a surprisingly strong rise in retail sales across the 17-country group that uses the euro. In the U.S., more hopeful news about housing kept the momentum going. 

Even with stocks trading at, or close to, record levels, they are still a good investment because earnings have risen so much, says Darell Krasnoff, Managing Director at Bel Air investment Advisors. 

"People get overly focused on benchmarks," he said. "The fact that it's reached that level is an interesting landmark, but it doesn't say anything about whether the market is over-, or under-valued." 

Stocks are also attractive compared with bonds after a five-year rally in the debt market that pushed yields to record lows. 

 *The NYSE DOW closed  	HIGHER ▲	125.95	points or ▲	0.89%	Tuesday, 5 March 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,253.77	▲	125.95	▲	0.89%	
	Nasdaq____	3,224.13	▲	42.10	▲	1.32%	
	S&P_500____	1,539.79	▲	14.59	▲	0.96%	
	30_Yr_Bond____	3.104	▲	0.02	▲	0.58%	

NYSE Volume	 3,686,731,250 			 		 	
Nasdaq Volume	 1,885,881,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,431.95	▲	86.32	▲	1.36%	
	DAX_____	7,870.31	▲	178.63	▲	2.32%	
	CAC_40__	3,787.19	▲	77.43	▲	2.09%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,088.10	▲	59.60	▲	1.19%	
	Shanghai_Comp	2,326.31	▲	52.90	▲	2.33%	
	Taiwan_Weight	7,932.71	▲	65.37	▲	0.83%	
	Nikkei_225____	11,683.45	▲	31.16	▲	0.27%	
	Hang_Seng____	22,560.50	▲	53.93	▲	0.10%	
	Strait_Times___	3,248.26	▲	8.31	▲	0.26%	
	NZX_50_Index__	4,269.16	▲	15.56	▲	0.37%	

http://finance.yahoo.com/news/dow-s...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Dow surges to record ... and keeps going

A new record: Dow surpasses 2007 peak*

Steve Rothwell, AP Business Writer 

The Dow closed at an all-time high Tuesday, beating the previous record it set in October 2007, before the financial crisis and Great Recession. 

The Dow Jones industrial average closed at 14,253.77, up 125.95 points, or 0.89 percent. The index jumped from the opening bell, climbed as much as 158 points early and peaked at 14,286. 

Twenty seven stocks in the 30-member Dow advanced, with industrial companies leading the gains. 

The gains represent a remarkable comeback for the stock market. The Dow has more than doubled since falling to a low of 6,547 in March 2009 following the financial crisis and the onset of the Great Recession. Stocks have rebounded sharply since then, helped by stimulus from the Federal Reserve, even as the economic recovery has been slow and steady. 

"Whether they want to admit it or not, everyone is very impressed with the resilience of the market," said Alec Young, a global equity strategist at S&P Capital IQ. 

The last time the Dow was this high, Apple had just sold its first iPhone and George W. Bush had another year as president. The U.S. housing market had yet to bottom, and the financial crisis that brought down Lehman Brothers was still a year away. 

The recovery in stocks may even have been quicker had memories of the financial system's near-collapse not been on investors' minds, said Robert Pavlik, chief market strategist at Banyan Partners. 

"It's still pretty close to the front of people's brains," he said. "That's one of the reasons that people are hesitant to invest in the stock market." 

That could be changing. More money has been flowing into stock mutual funds since the beginning of the year. 

Now, investors who have missed out on the run-up may be deciding to get off the sidelines, Pavlik said. 

The Dow opened higher Tuesday following a surge in markets across the globe. China's markets rose after the government said it would support ambitious growth targets. European markets jumped following a surprisingly strong rise in retail sales across the 17-country group that uses the euro. In the U.S., more hopeful news about housing kept the momentum going. 

Even with stocks trading at, or close to, record levels, they are still a good investment because earnings have risen so much, says Darell Krasnoff, Managing Director at Bel Air investment Advisors. 

"People get overly focused on benchmarks," he said. "The fact that it's reached that level is an interesting landmark, but it doesn't say anything about whether the market is over-, or under-valued." 

Stocks are also attractive compared with bonds after a five-year rally in the debt market that pushed yields to record lows. 

The yield on the 10-year Treasury note, currently at 1.90 percent, is still lower than the yield of about 2.1 percent on the S&P 500, which measure the ratio of dividend payments to stock prices. 

Despite the rise in the Dow, the U.S. economy has not fared as well. Unemployment was just 4.7 percent when the Dow last reached a record five and half years ago, versus 7.9 percent today. 

But the economy is strengthening in many areas. Housing is recovering, companies are hiring more and Corporate America's earnings are growing. That helped drive a 9 percent rise in the Dow this year, impressing even the most ardent skeptics. For all of last year, the index rose 7 percent. 

Stocks are also benefiting from the economic stimulus from the Federal Reserve and other global central banks. 

Under a program called "quantitative easing," the Fed has bought trillions of dollars of bonds, pushing up their prices and sending their yields lower. That makes stocks more attractive to investors than bonds and keeps interest rates low throughout the economy, encouraging investment and spending. 

The U.S. central bank began buying bonds in January 2009 and is still purchasing $85 billion each month in Treasury bonds and mortgage-backed securities. 

The Dow has even managed to climb to a record despite the backdrop of political wrangling in Washington, with automatic government budget cuts taking effect Friday after President Barack Obama and Congress failed to reach a budget deal. Economists expect the cuts to hurt U.S. economic growth and though both Republicans and Democrats have pledged to retroactively undo the cuts, they have given no indication yet of how that process would take shape. 

The Dow's close Tuesday surpassed its previous record close of 14,164.53 from Oct. 9, 2007. 

The Dow's gains Tuesday were led by industrial and technology stocks. Cisco System rose 48 cents, or 2.3 percent, to $21.22 and United Technologies climbed $1.89, or 2.2 percent, to $91.02. 

IBM rose $1.34, or 0.65 percent, to $206.50 and 3M rose $1.17, or 1.1 percent, to $104.40, pushing the Dow higher. 

That's a signal that investors are optimistic since those companies stand to gain the most when the economy recovers. More stable, conservative stocks like utilities and consumer staples logged smaller gains. 

From its March 2009 low to today, gains for the 30-member Dow have been led by American Express, up almost 500 percent from $10.64 to $64.12. Home Depot has jumped almost 300 percent from $18.23 to $70.47, according to data from S&P Dow Jones Indices. Hewlett-Packard is the only stock in the index that is lower than it was four years ago, falling 22 percent from $25.53 to $20.37. 

On Tuesday, investors received another piece of positive news on the U.S. economy, a report that U.S. service companies grew in February at the fastest pace in a year, thanks to higher sales and more new orders. The gain suggests higher taxes have yet to slow consumer spending on services. 

Home builder PulteGroup rose 50 cents, or 2.5 percent, to $20.22 following news that home prices rose at the fastest pace in almost six years in January, a sign that the housing market is gaining momentum as it nears the spring selling season. Home prices rose 9.7 percent in January from a year ago and had the biggest gain since April 2006, according to data released by CoreLogic 

The Standard & Poor's 500 index rose 15 points, or 1 percent, to 1,539.79, within striking distance of its own record close of 1,565. The Nasdaq composite gained 42 points, or 1.3 percent, to 3,224.13. 

The yield on the 10-year Treasury note rose two basis point to 1.90 percent. Gold rose $2, 0.1 percent, to $1,574 and oil advanced 59 cents, to $90.71.


----------



## pixel

The Dow also broke above the split of a rising channel starting at the 2009 Low.
Question remains: Will the Global Markets "believe" in the recovery? Will they follow or take profit?


----------



## notting

Dow makes all time high.

Maybe it's all about oil.


----------



## bigdog

Source: http://finance.yahoo.com 

After barreling through a record the day before, the Dow Jones industrial average meandered higher on Wednesday. 

The Dow edged up 42.47 points, or 0.3 percent, to close at 14,296.24. An encouraging job-market report helped nudge the stock market up and pushed bond prices lower. 

On Tuesday, the Dow blew past the previous all-time high it hit more than five years ago. The index of 30 big corporations has more than doubled since hitting a low during the financial crisis in March 2009. 

The question now is, how much longer can it keep climbing? 

In the past, stock indexes have often drifted lower in the months after breaking through previous record highs. David Brown, director of Sabrient Systems, an investment research firm, sees plenty of reasons for the market to keep climbing, however. People are putting their cash into the stock market again. And the alternatives, like bonds, are hardly appealing. 

"There is literally nowhere else to go," Brown said. "Do you really want to make 1.9 percent on a 10-year Treasury? You won't make any money doing that." 

In other trading, the Standard & Poor's 500 index rose 1.67 points, or 0.1 percent, to 1,541.46. The Nasdaq slipped 1.77, less than 0.1 percent, to 3,222.36. 

Microsoft led a decline in tech stocks, losing 26 cents to $28.09. European regulators fined the company for breaking an antitrust agreement requiring the software giant to offer computer users a choice of Internet browsers, instead of just Internet Explorer. 

Companies added 198,000 U.S. workers to their payrolls in February, according to payment processor ADP. The firm also said employers added 23,000 more jobs in January than first reported. 

The ADP survey suggests that government spending cuts have yet to deter employers from hiring. Investors look to the ADP survey as a preview to the closely watched Labor Department report, which comes out Friday. Economists expect the government to say employers added 152,000 jobs in February, lowering the unemployment rate to 7.8 percent from 7.9 percent. 

As traders anticipated better news about the job market, bond prices fell and the yield on the 10-year Treasury rose to 1.93 percent from 1.90 percent late Tuesday. 

Expectations of a stronger economy tend to lure traders out of Treasurys and into investments that tend to rise with economic growth, like stocks. 

Over the long haul, stock markets head higher, but the path is rarely smooth. In October 2007, the Dow hit its previous high of 14,164. A year later, the country was in the middle of a financial crisis and the Dow was in free fall. In January 1987, the Dow closed above 2,000 for the first time, then hit a record of 2,722 in August. Two months later, the Dow had plunged 36 percent from its peak, including a huge drop on Black Monday. 

 *The NYSE DOW closed  	HIGHER ▲	42.47	points or ▲	0.30%	Wednesday, 6 March 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,296.24	▲	42.47	▲	0.30%	
	Nasdaq____	3,222.37	▼	-1.76	▼	-0.05%	
	S&P_500____	1,541.46	▲	1.67	▲	0.11%	
	30_Yr_Bond____	3.150	▲	0.04	▲	1.45%	

NYSE Volume	 3,951,458,500 			 		 	
Nasdaq Volume	 1,755,643,380 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,427.64	▼	-4.31	▼	-0.07%	
	DAX_____	7,919.33	▲	49.02	▲	0.62%	
	CAC_40__	3,773.76	▼	-13.43	▼	-0.35%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,130.90	▲	42.80	▲	0.84%	
	Shanghai_Comp	2,347.18	▲	20.87	▲	0.90%	
	Taiwan_Weight	7,950.30	▲	17.59	▲	0.22%	
	Nikkei_225____	11,932.27	▲	248.82	▲	2.13%	
	Hang_Seng____	22,777.84	▲	53.93	▲	0.96%	
	Strait_Times___	3,286.89	▲	38.63	▲	1.19%	
	NZX_50_Index__	4,297.97	▲	28.81	▲	0.67%	

http://finance.yahoo.com/news/us-st...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*US stocks edge up following Dow's record day

After a record day, the Dow Jones industrial average keeps climbing on Wall Street*

Matthew Craft, AP Business Writer

After barreling through a record the day before, the Dow Jones industrial average meandered higher on Wednesday. 

The Dow edged up 42.47 points, or 0.3 percent, to close at 14,296.24. An encouraging job-market report helped nudge the stock market up and pushed bond prices lower. 

On Tuesday, the Dow blew past the previous all-time high it hit more than five years ago. The index of 30 big corporations has more than doubled since hitting a low during the financial crisis in March 2009. 

The question now is, how much longer can it keep climbing? 

In the past, stock indexes have often drifted lower in the months after breaking through previous record highs. David Brown, director of Sabrient Systems, an investment research firm, sees plenty of reasons for the market to keep climbing, however. People are putting their cash into the stock market again. And the alternatives, like bonds, are hardly appealing. 

"There is literally nowhere else to go," Brown said. "Do you really want to make 1.9 percent on a 10-year Treasury? You won't make any money doing that." 

In other trading, the Standard & Poor's 500 index rose 1.67 points, or 0.1 percent, to 1,541.46. The Nasdaq slipped 1.77, less than 0.1 percent, to 3,222.36. 

Microsoft led a decline in tech stocks, losing 26 cents to $28.09. European regulators fined the company for breaking an antitrust agreement requiring the software giant to offer computer users a choice of Internet browsers, instead of just Internet Explorer. 

Companies added 198,000 U.S. workers to their payrolls in February, according to payment processor ADP. The firm also said employers added 23,000 more jobs in January than first reported. 

The ADP survey suggests that government spending cuts have yet to deter employers from hiring. Investors look to the ADP survey as a preview to the closely watched Labor Department report, which comes out Friday. Economists expect the government to say employers added 152,000 jobs in February, lowering the unemployment rate to 7.8 percent from 7.9 percent. 

As traders anticipated better news about the job market, bond prices fell and the yield on the 10-year Treasury rose to 1.93 percent from 1.90 percent late Tuesday. 

Expectations of a stronger economy tend to lure traders out of Treasurys and into investments that tend to rise with economic growth, like stocks. 

Over the long haul, stock markets head higher, but the path is rarely smooth. In October 2007, the Dow hit its previous high of 14,164. A year later, the country was in the middle of a financial crisis and the Dow was in free fall. In January 1987, the Dow closed above 2,000 for the first time, then hit a record of 2,722 in August. Two months later, the Dow had plunged 36 percent from its peak, including a huge drop on Black Monday. 

That hardly means the market is about to take another plunge. Analysts point to other reasons, besides the poor returns offered by bonds, that the stock market could continue climbing: the economy is slowly recovering, interest rates and inflation are low, and stocks are not especially expensive. The 30 companies in the Dow trade for 15 times their per-share earnings in 2012, in line with their historical average. 

Among other companies making big moves: 

”” Staples sank 7 percent after the office-supply chain posted a 72 percent drop in quarterly earnings. The company was hit by charges from closing stores. Staples also warned of weaker sales growth this year. Staples dropped 95 cents to $12.34. 

”” Strong quarterly profits propelled Big Lots up 6 percent. The discount store posted better earnings than analysts had projected, helped by soaring sales in Canada. Big Lots rose $2.08 to $35.97. 

”” American Eagle Outfitters fell 10 percent after the clothing retailer reported earnings that fell short of analysts' estimates. Its quarterly earnings forecast also fell short, and the company's stock dropped $2.28 to $20.27.


----------



## bigdog

Source: http://finance.yahoo.com 

 The Dow pushed further into record territory Thursday, having surpassed its previous all-time high two days ago. The catalyst was the latest evidence that hiring is picking up. 

Stocks started higher after the Labor Department reported that the number of Americans seeking unemployment aid fell by 7,000 last week, driving the four-week average to its lowest in five years. The drop is a positive sign ahead of Friday's employment report. 

The Dow Jones industrial average rose 33.25 points, or 0.2 percent, to 14,329.49. The Standard & Poor's 500 gained 2.80 points, or 0.2 percent, to 1,544.26. Both indexes rose for the fifth day straight. 

The Dow barreled through a record high Tuesday and has added to its gains since then. The S&P 500 is also closing in on its own record high of 1,565, which was also reached on Oct. 9, 2007, the same day of the Dow's previous peak. The S&P would need to rise 21 points, or 1.3 percent, to set a record. 

Investors have been buying stocks on optimism that employers are slowly starting to hire again and that the housing market is recovering. Growing company earnings are also encouraging investors to get into the market. The Dow is 9.4 percent higher this year and the broader S&P 500 is up 8.3 percent. 

"If you have a multi-year time horizon, equities are an attractive asset, but don't be surprised to see some volatility, especially after the big run we've had," said Michael Sheldon, chief market strategist at RDM Financial Group. 

Boeing gained Thursday, advancing $1.97, or 2.5 percent, to $81.05 following reports that U.S. regulators were poised to approve a plan within days to allow the plane maker to begin test flights of its 787 Dreamliner. The 787 fleet has been grounded since Jan. 16 because of safety concerns about the plane's batteries. Twenty stocks in the 30-member index advanced. 

The Federal Reserve will release the results of its annual stress test for banks after the market closes Thursday. Financial stocks advanced amid speculation that banks will have amassed enough capital to be able to return more cash to shareholders. Bank of America had the largest percentage gain in the Dow, rising 34 cents, or 2.9 percent, to $12.26, with JPMorgan Chase in third spot, gaining 60 cents, or 1.2 percent, to $50.63. 

 *The NYSE DOW closed  	HIGHER ▲	33.25	points or ▲	0.23%	Thursday, 7 March 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,329.49	▲	33.25	▲	0.23%	
	Nasdaq____	3,232.09	▲	9.72	▲	0.30%	
	S&P_500____	1,544.26	▲	2.80	▲	0.18%	
	30_Yr_Bond____	3.200	▲	0.05	▲	1.62%	

NYSE Volume	 3,871,191,750 			 		 	
Nasdaq Volume	 1,673,369,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,439.16	▲	11.52	▲	0.18%	
	DAX_____	7*939,77	▲	20,44	▲	+0,26%	
	CAC_40__	3*793,78	▲	20,02	▲	+0,53%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,123.10	▼	-7.80	▼	-0.15%	
	Shanghai_Comp	2,324.29	▼	-22.89	▼	-0.98%	
	Taiwan_Weight	7,960.51	▲	10.21	▲	0.13%	
	Nikkei_225____	11,968.08	▲	35.81	▲	0.30%	
	Hang_Seng____	22,771.44	▲	53.93	▼	-0.03%	
	Strait_Times___	3,298.54	▲	6.73	▲	0.20%	
	NZX_50_Index__	4,333.48	▲	35.51	▲	0.83%	

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks gain for fifth day on unemployment report

Dow maintains ascent into record territory after unemployment claims drop*

By Steve Rothwell, AP Markets Writer

The Dow pushed further into record territory Thursday, having surpassed its previous all-time high two days ago. The catalyst was the latest evidence that hiring is picking up. 

Stocks started higher after the Labor Department reported that the number of Americans seeking unemployment aid fell by 7,000 last week, driving the four-week average to its lowest in five years. The drop is a positive sign ahead of Friday's employment report. 

The Dow Jones industrial average rose 33.25 points, or 0.2 percent, to 14,329.49. The Standard & Poor's 500 gained 2.80 points, or 0.2 percent, to 1,544.26. Both indexes rose for the fifth day straight. 

The Dow barreled through a record high Tuesday and has added to its gains since then. The S&P 500 is also closing in on its own record high of 1,565, which was also reached on Oct. 9, 2007, the same day of the Dow's previous peak. The S&P would need to rise 21 points, or 1.3 percent, to set a record. 

Investors have been buying stocks on optimism that employers are slowly starting to hire again and that the housing market is recovering. Growing company earnings are also encouraging investors to get into the market. The Dow is 9.4 percent higher this year and the broader S&P 500 is up 8.3 percent. 

"If you have a multi-year time horizon, equities are an attractive asset, but don't be surprised to see some volatility, especially after the big run we've had," said Michael Sheldon, chief market strategist at RDM Financial Group. 

Boeing gained Thursday, advancing $1.97, or 2.5 percent, to $81.05 following reports that U.S. regulators were poised to approve a plan within days to allow the plane maker to begin test flights of its 787 Dreamliner. The 787 fleet has been grounded since Jan. 16 because of safety concerns about the plane's batteries. Twenty stocks in the 30-member index advanced. 

The Federal Reserve will release the results of its annual stress test for banks after the market closes Thursday. Financial stocks advanced amid speculation that banks will have amassed enough capital to be able to return more cash to shareholders. Bank of America had the largest percentage gain in the Dow, rising 34 cents, or 2.9 percent, to $12.26, with JPMorgan Chase in third spot, gaining 60 cents, or 1.2 percent, to $50.63. 

Jeffery Saut, chief investment strategist at Raymond James, predicted that any sell-off in stocks may be short-lived as investors who have missed out on the rally since the start of the year jump into the market. 

"The rally is going to go higher than most people think," Saut said. "This thing has caught most money managers flat-footed." 

The stock market's rally this year has been helped in no small part by continuing economic stimulus from the Federal Reserve. The U.S. central bank began buying bonds in January 2009 and is still purchasing $85 billion each month in Treasury bonds and mortgage-backed securities. That has kept interest rates near historic lows, reducing borrowing costs and encouraging investors to move money out of conservative investments like bonds and into stocks. 

The Nasdaq composite advanced 9.72 points, or 0.3 percent, to 3,232.09. 

The yield on the 10-year Treasury note, which moves inversely to its price, rose to 2 percent from 1.94 percent. 

Among stocks making big moves: 

”” PetSmart fell $4.37, or 6.6 percent, to $62.18 after the company reported its fiscal fourth-quarter earnings. Profits for the pet store chain rose but its forecast for this year disappointed investors. 

”” Pier 1 Imports fell 96 cents to $22.28 after the home decor company issued an earnings forecast that was below Wall Street analysts' estimates. 

”” Supermarket chain Kroger rose 89 cents, or 3 percent, to $30.25 after the company's fourth quarter profit handily beat Wall Street expectations. 

”” Gap rose $1.41, or 4.1 percent, to $35.68 after the clothing retailer said a key revenue measure rose more than expected in February, helped by sales at its Gap and Old Navy stores. The company had been scheduled to release the sales figures after the market closed, but put them out after a transcript of its recorded sales call appeared on the website seekingalpha.com, halting the shares.


----------



## bigdog

Source: http://finance.yahoo.com 

 A burst of hiring in February pushed stocks higher on Wall Street. 

The Dow Jones industrial average gained 67.58 points, or 0.5 percent, to 14,397.07. The index surpassed its previous record close Tuesday and logged a sixth straight increase Friday. 

The Standard & Poor's 500 index rose 6.92 points, or 0.5 percent, to 1,551.18. The Nasdaq composite advanced 12.28 points, or 0.4 percent, to 3,244.37. 

U.S. employers added 236,000 jobs last month and the unemployment rate fell to 7.7 percent from 7.9 percent in January, the Labor Department reported. That's far better than the 156,000 job gains and unemployment rate of 7.8 percent that economists surveyed by FactSet expected. 

The strong job growth shows that employers are confident about the economy despite higher taxes and government spending cuts. 

Optimism that hiring is picking up has been one of the factors bolstering the stock market this year. Stocks have also gained on evidence that the housing market is recovering and company earnings continue to growing. 

Stocks have also been boosted by continuing economic stimulus from the Federal Reserve. 

The U.S. central bank began buying bonds in January 2009 and is still purchasing $85 billion each month in Treasury bonds and mortgage-backed securities. That has kept interest rates near historic lows, reducing borrowing costs and encouraging investors to move money out of conservative investments like bonds and into stocks. 

Investors have also been pondering what the Fed's next move will be. That question was in especially sharp focus Friday after the government reported the surge in hiring last month. 

Andres Garcia-Amaya at JPMorgan Asset Management said that the strong jobs report may heighten speculation that the Fed will end its stimulus sooner than investors had anticipated, which would be a negative for the stock market. 

"If the economy maintains or increases the pace of job creation....that could change the Fed's stance," said Garcia-Amaya. "That could mean that the Fed could take the 'punch bowl' away." 

The Dow has gained 9.9 percent this year and is trading at record levels, having broken its previous record of 14,164 on Tuesday. The Standard & Poor's 500 index is up 8.8 percent since the start of the year, and is less than 1 percent short of its all-time high close of 1,565 set Oct. 9, 2007. 

The stock market is drawing in more investors as it continues to surge. 

 *The NYSE DOW closed  	HIGHER ▲	67.58	points or ▲	0.47%	Friday, 8 March 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,397.07	▲	67.58	▲	0.47%	
	Nasdaq____	3,244.37	▲	12.28	▲	0.38%	
	S&P_500____	1,551.18	▲	6.92	▲	0.45%	
	30_Yr_Bond____	3.255	▲	0.06	▲	1.72%	

NYSE Volume	 3,962,304,500 			 		 	
Nasdaq Volume	 1,612,353,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,483.58	▲	44.42	▲	0.69%	
	DAX_____	7,986.47	▲	46.70	▲	0.59%	
	CAC_40__	3,840.15	▲	46.37	▲	1.22%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,137.50	▲	14.40	▲	0.28%	
	Shanghai_Comp	2,318.61	▼	-5.68	▼	-0.24%	
	Taiwan_Weight	8,015.14	▲	54.63	▲	0.69%	
	Nikkei_225____	12,283.62	▲	315.54	▲	2.64%	
	Hang_Seng____	23,091.95	▲	53.93	▲	1.41%	
	Strait_Times___	3,289.53	▼	-9.01	▼	-0.27%	
	NZX_50_Index__	4,354.03	▲	20.55	▲	0.47%	

http://finance.yahoo.com/news/stocks-gain-sixth-day-strong-212405127.html

*Stocks gain for sixth day on strong jobs growth

Stocks advance for sixth straight day after unemployment rate dips to a four-year low*

Steve Rothwell, AP Markets Writer 

A burst of hiring in February pushed stocks higher on Wall Street. 

The Dow Jones industrial average gained 67.58 points, or 0.5 percent, to 14,397.07. The index surpassed its previous record close Tuesday and logged a sixth straight increase Friday. 

The Standard & Poor's 500 index rose 6.92 points, or 0.5 percent, to 1,551.18. The Nasdaq composite advanced 12.28 points, or 0.4 percent, to 3,244.37. 

U.S. employers added 236,000 jobs last month and the unemployment rate fell to 7.7 percent from 7.9 percent in January, the Labor Department reported. That's far better than the 156,000 job gains and unemployment rate of 7.8 percent that economists surveyed by FactSet expected. 

The strong job growth shows that employers are confident about the economy despite higher taxes and government spending cuts. 

Optimism that hiring is picking up has been one of the factors bolstering the stock market this year. Stocks have also gained on evidence that the housing market is recovering and company earnings continue to growing. 

Stocks have also been boosted by continuing economic stimulus from the Federal Reserve. 

The U.S. central bank began buying bonds in January 2009 and is still purchasing $85 billion each month in Treasury bonds and mortgage-backed securities. That has kept interest rates near historic lows, reducing borrowing costs and encouraging investors to move money out of conservative investments like bonds and into stocks. 

Investors have also been pondering what the Fed's next move will be. That question was in especially sharp focus Friday after the government reported the surge in hiring last month. 

Andres Garcia-Amaya at JPMorgan Asset Management said that the strong jobs report may heighten speculation that the Fed will end its stimulus sooner than investors had anticipated, which would be a negative for the stock market. 

"If the economy maintains or increases the pace of job creation....that could change the Fed's stance," said Garcia-Amaya. "That could mean that the Fed could take the 'punch bowl' away." 

The Dow has gained 9.9 percent this year and is trading at record levels, having broken its previous record of 14,164 on Tuesday. The Standard & Poor's 500 index is up 8.8 percent since the start of the year, and is less than 1 percent short of its all-time high close of 1,565 set Oct. 9, 2007. 

The stock market is drawing in more investors as it continues to surge. 

Investors put $3.2 billion into stock mutual funds in the week ending Wednesday, data provider Lipper reported Friday. That's the ninth straight week of net inflows to stock funds, bringing this year's total to $59 billion. 

Friday's jobs report strengthens the case of stock market bulls, who say the economy is gaining momentum following a long and tepid recovery after the financial crisis and Great Recession, said JJ Kinahan, chief derivatives strategist at TD Ameritrade. 

"It gives hope to those that say this rally isn't just about the Fed, it's about the economy recovering," said Kinahan. "It's giving people confidence that maybe the economy is turning the corner." 

The Dow is up 120 percent since reaching a 12-year low during The Great Recession. The index bottomed out almost exactly four years ago, on March 9, 2009, at 6,547. The S&P 500 has gained 129 percent since hitting its own bottom of 676 on the same date. 

McDonald's contributed the most to the Dow's gains, rising $1.62, or 1.7 percent, to $98.71. The fast-food restaurant chain reported that a key sales figure fell 3.3 percent in February, but the decline wasn't as bad as analysts were expecting. 

H&R Block had the biggest percentage gain on the S&P 500, advancing $2.30, or 9.2 percent, to $27.28. 

The company said late Thursday that its net loss widened because of a delay to the start of this year's tax season. The stock got a boost, though, after CEO William Cobb said on a conference call that the company was winning market share, Barrington Research analyst Joe Janssen said. 

The yield on the 10-year Treasury note, which moves inversely to its price, rose to 2.06 percent from 2 percent Thursday. The yield is at its highest in 11 months. 

Among stocks making big moves; 

”” Pandora gained $2.06, or 17.6 percent, to $13.79 after the Internet radio company issued a strong profit forecast and said its mobile business was improving. Pandora also said its CEO, Joseph Kennedy, would leave. 

”” Skullcandy fell $1.51, or 22.5 percent, to $5.21 after the headphone maker projected a big loss and a drop in sales for the current quarter. The company said this year's results will likely be worse than in 2012. 

”” Foot Locker fell $2.52, or 7.1 percent, to $32.79 even after reporting that its fiscal fourth-quarter profit jumped 28 percent. An extra sales week helped boost earnings, but analysts were expecting more.

7276


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market crept higher Monday, pushing the Dow Jones industrial average to its seventh straight day of gains. 

Boeing was the Dow's top stock, surging 2 percent. A Boeing executive reportedly said he's confident the aircraft maker has figured out a fix for the battery problems that have grounded the 787 Dreamliner. 

The last time the Dow rose for seven consecutive days was March 2012. The latest streak began last Tuesday, when the blue-chip index blew past its all-time high, then kept climbing to end the week up 2 percent. 

On Monday, the Dow rose 50.22 points to end the day at 14,447.29, an increase of 0.3 percent. 

The Standard & Poor's 500 index edged up 5.04 points, also 0.3 percent, to close at 1,556.22. The index, the most popular market measure for investment funds, is nine points shy of its all-time closing high reached in October 2007. 

The Nasdaq composite added 8.51 points to 3,252.87. 

The S&P 500 gains were broad, though slight. Nine of the 10 industry groups in the S&P 500 rose, led by financial companies. That's a sign many investors believe the market and economy are on solid footing, said Quincy Krosby, market strategist at Prudential Financial. When the economy picks up, financial firms and companies in other cyclical industries tend to benefit more than others. 

For the year, the Dow is up 10 percent and the S&P 500 up 9 percent. 

The stock market's fast start has prompted some analysts to worry that the rally could quickly fizzle out. Although recent economic reports have painted a better picture, the U.S. economy is still growing slowly. It expanded at an annual rate of 0.1 percent in the final three months of 2012. And Europe remains in a recession. 

There were no major economic reports to drive trading on Monday. Later in the week, the government will release figures for the federal budget in February, as well as reports on consumer prices and industrial production 

 *The NYSE DOW closed  	HIGHER ▲	50.22	points or ▲	0.35%	Monday, 11 March 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,447.29	▲	50.22	▲	0.35%	
	Nasdaq____	3,252.87	▲	8.50	▲	0.26%	
	S&P_500____	1,556.22	▲	5.04	▲	0.32%	
	30_Yr_Bond____	3.255	▲	0.00	▲	0.00%	

NYSE Volume	 3,353,394,750 			 		 	
Nasdaq Volume	 1,637,674,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,503.63	▲	20.05	▲	0.31%	
	DAX_____	7,984.29	▼	-2.18	▼	-0.03%	
	CAC_40__	3,836.27	▼	-3.88	▼	-0.10%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,160.00	▲	36.90	▲	0.72%	
	Shanghai_Comp	2,310.59	▼	-8.02	▼	-0.35%	
	Taiwan_Weight	8,038.72	▲	23.58	▲	0.29%	
	Nikkei_225____	12,349.05	▲	65.43	▲	0.53%	
	Hang_Seng____	23,090.82	▲	53.93	▲	0.00%	
	Strait_Times___	3,292.97	▲	3.44	▲	0.10%	
	NZX_50_Index__	4,366.58	▲	12.55	▲	0.29%	

http://finance.yahoo.com/news/stocks-creep-dow-rises-seventh-203258600.html

*Stocks creep up; Dow rises for seventh day running

After record-busting week, Dow notches seventh straight day of gains; S&P nears all-time high*

The Associated Press

The stock market crept higher Monday, pushing the Dow Jones industrial average to its seventh straight day of gains. 

Boeing was the Dow's top stock, surging 2 percent. A Boeing executive reportedly said he's confident the aircraft maker has figured out a fix for the battery problems that have grounded the 787 Dreamliner. 

The last time the Dow rose for seven consecutive days was March 2012. The latest streak began last Tuesday, when the blue-chip index blew past its all-time high, then kept climbing to end the week up 2 percent. 

On Monday, the Dow rose 50.22 points to end the day at 14,447.29, an increase of 0.3 percent. 

The Standard & Poor's 500 index edged up 5.04 points, also 0.3 percent, to close at 1,556.22. The index, the most popular market measure for investment funds, is nine points shy of its all-time closing high reached in October 2007. 

The Nasdaq composite added 8.51 points to 3,252.87. 

The S&P 500 gains were broad, though slight. Nine of the 10 industry groups in the S&P 500 rose, led by financial companies. That's a sign many investors believe the market and economy are on solid footing, said Quincy Krosby, market strategist at Prudential Financial. When the economy picks up, financial firms and companies in other cyclical industries tend to benefit more than others. 

For the year, the Dow is up 10 percent and the S&P 500 up 9 percent. 

The stock market's fast start has prompted some analysts to worry that the rally could quickly fizzle out. Although recent economic reports have painted a better picture, the U.S. economy is still growing slowly. It expanded at an annual rate of 0.1 percent in the final three months of 2012. And Europe remains in a recession. 

There were no major economic reports to drive trading on Monday. Later in the week, the government will release figures for the federal budget in February, as well as reports on consumer prices and industrial production 

On Friday, the Labor Department said that U.S. employers added 236,000 workers to their payrolls in February, pushing the unemployment rate down to 7.7 percent, the lowest since December 2008. 

In the Treasury market, the yield on the benchmark 10-year Treasury note edged up to 2.05 percent from 2.04 percent late Friday. 

The 10-year Treasury yield began the year around 1.70 percent and has climbed steadily higher since then as worries about a recession have eased. Traders have shifted money out of the Treasury market, lifting yields up. 

Among other companies making moves Monday: 

”” Dick's Sporting Goods sank 11 percent to $45.11, after the retailer posted slightly weaker earnings and revenue than analysts had expected. The Pittsburgh-based company said it responded to a warm December by cutting its inventory of cold-weather clothes. But that move likely hampered sales when temperatures dropped in January. 

”” News that billionaire investor Carl Icahn will get access to Dell's private financial records lifted shares in the computer maker. Icahn is fighting Michael Dell's plan to take the struggling company private for $24 billion, claiming the purchase price is too low. Dell's stock rose 21 cents to $14.37.


----------



## bigdog

Source: http://finance.yahoo.com 

The Dow Jones industrial average logged its longest winning streak in two years ”” barely. 

A tiny gain gave the Dow its eighth straight increase Tuesday, long enough to match its longest series of gains since February 2011. 

The Dow rose 2.77 points, or 0.02 percent, to 14,450.06, having wavered between small gains and losses for most of the day. 

The broader Standard & Poor's 500 ended down 3.74 points, or 0.2 percent, at 1,552.48. The Nasdaq composite dropped 10.55 points, or 0.32 percent, to 3,242.32 

Stocks have surged this year as investors became encouraged by a recovery in the housing market and a pickup in hiring. Strong corporate earnings and continuing economic stimulus from the Federal Reserve are also supporting demand for stocks. 

The Dow has gained 10.3 percent so far in 2013, and last week it surpassed its previous all-time high of 14,164.53. The S&P 500 has risen 8.9 percent this year and is less than 1 percentage point away from its record close of 1,565.15 set in October 2007. 

David Bianco, chief U.S. equity strategist at Deutsche Bank, said the S&P 500 index will likely maintain its momentum in the coming weeks and surpass its all-time high. Strong first-quarter corporate earnings reports could also push the market higher. 

"I wouldn't be surprised if the market has a typical five percent pullback in the summer," said Bianco. "But I think we go higher before that happens." 

The last significant downturn for stocks started before the Presidential elections in November, when the Dow fell 8 percent between Oct. 5 and Nov. 15 on concern that a divided government wouldn't be able to reach a budget deal to stop the U.S. going over the "fiscal cliff" of sweeping tax hikes and deep spending cuts. 

Stocks haven't had a correction, typically defined as a decline of between 10 and 20 percent, since November 2011. That sell-off came after talks on cutting the U.S. deficit broke down in Washington.

 *The NYSE DOW closed  	HIGHER ▲	2.77	points or ▲	0.02%	Tuesday, 12 March 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,450.06	▲	2.77	▲	0.02%	
	Nasdaq____	3,242.32	▼	-10.55	▼	-0.32%	
	S&P_500____	1,552.48	▼	-3.74	▼	-0.24%	
	30_Yr_Bond____	3.220	▼	-0.04	▼	-1.11%	

NYSE Volume	 3,482,609,250 			 		 	
Nasdaq Volume	 1,672,772,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,510.62	▲	6.99	▲	0.11%	
	DAX_____	7,966.12	▼	-18.17	▼	-0.23%	
	CAC_40__	3,839.97	▲	3.70	▲	0.10%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,128.60	▼	-31.40	▼	-0.61%	
	Shanghai_Comp	2,286.60	▼	-23.99	▼	-1.04%	
	Taiwan_Weight	7,994.71	▼	-44.01	▼	-0.55%	
	Nikkei_225____	12,314.81	▼	-34.24	▼	-0.28%	
	Hang_Seng____	22,890.60	▲	53.93	▼	-0.87%	
	Strait_Times___	3,303.02	▲	10.05	▲	0.31%	
	NZX_50_Index__	4,378.76	▲	12.19	▲	0.28%	

http://finance.yahoo.com/news/dow-ekes-eight-straight-advance-203933813.html

*Dow ekes out eight straight advance

Dow ekes out eighth straight day of gains; longest streak in two years*

By Steve Rothwell, AP Markets Writer

The Dow Jones industrial average logged its longest winning streak in two years ”” barely. 

A tiny gain gave the Dow its eighth straight increase Tuesday, long enough to match its longest series of gains since February 2011. 

The Dow rose 2.77 points, or 0.02 percent, to 14,450.06, having wavered between small gains and losses for most of the day. 

The broader Standard & Poor's 500 ended down 3.74 points, or 0.2 percent, at 1,552.48. The Nasdaq composite dropped 10.55 points, or 0.32 percent, to 3,242.32 

Stocks have surged this year as investors became encouraged by a recovery in the housing market and a pickup in hiring. Strong corporate earnings and continuing economic stimulus from the Federal Reserve are also supporting demand for stocks. 

The Dow has gained 10.3 percent so far in 2013, and last week it surpassed its previous all-time high of 14,164.53. The S&P 500 has risen 8.9 percent this year and is less than 1 percentage point away from its record close of 1,565.15 set in October 2007. 

David Bianco, chief U.S. equity strategist at Deutsche Bank, said the S&P 500 index will likely maintain its momentum in the coming weeks and surpass its all-time high. Strong first-quarter corporate earnings reports could also push the market higher. 

"I wouldn't be surprised if the market has a typical five percent pullback in the summer," said Bianco. "But I think we go higher before that happens." 

The last significant downturn for stocks started before the Presidential elections in November, when the Dow fell 8 percent between Oct. 5 and Nov. 15 on concern that a divided government wouldn't be able to reach a budget deal to stop the U.S. going over the "fiscal cliff" of sweeping tax hikes and deep spending cuts. 

Stocks haven't had a correction, typically defined as a decline of between 10 and 20 percent, since November 2011. That sell-off came after talks on cutting the U.S. deficit broke down in Washington. 

Merck was the biggest gainer in the Dow, advancing $1.38, or 3.2 percent, to $45.04 after the drugmaker said a data safety monitoring board recommended that a study of its cholesterol drug Vytorin should continue. 

Peter Cardillo, chief market economist at Rockwell Global Capital, was also among those saying investors should expect a pause in the market's advance. 

"Nothing goes up forever," Cardillo said. "We will be headed for a correction somewhere along the line." 

Markets were mixed in Europe. Italy easily sold â‚¬7.75 billion ($10 billion) in 12-month bonds, though at slightly higher interest rates. It was the first test of market sentiment since Fitch downgraded the country's credit rating on Friday due to political uncertainty there. 

The Dow's biggest wobble this year came on Feb. 25, when it lost 1.6 percent after inconclusive results from Italian elections pushed the country toward political gridlock, threatening its ability to follow through on unpopular budget cuts demanded by its European neighbors. That gave investors a flashback to last spring, when a flare-up in Europe's debt crisis sent markets spiraling lower in the U.S. and Europe. 

The yield on the 10-year Treasury note, which moves inversely to its price, fell to 2.02 percent from 2.06 percent. 

Among stocks making big moves: 

”” Yum Brands Inc. rose 89 cents, or 1.3 percent, to $68.73 after the owner of KFC, Pizza Hut and Taco Bell announced a smaller-than-expected drop in its sales in China for the months of January and February following a food scare over its chicken suppliers. 

”” Diamond Foods slumped $1.71, or 9.7 percent, to $15.89 after the snack maker reported disappointing second-quarter sales and offered an estimate for the rest of the fiscal year that also fell short of Wall Street estimates. 

”” VeriFone Systems gained $1.22, or 6 percent, to $21.68 after the company, a leading maker of terminals for electronic payments, said late Monday that its CEO is stepping down after recent stumbles cut the company's stock price nearly in half. 

”” Costco rose $1.31 to $103.75 after reporting that its fiscal second-quarter net income climbed 39 percent. The discount retailer pulled in more money from membership fees, its sales improved and it also recorded a large tax benefit. Even without the tax benefit the results were better than analysts had expected. 

”” Cabela's soared $6.75, or 12.5 percent, to $60.65 after the fishing, hunting and outdoors retailer said that it expects first-quarter profit will come in above market expectations.


----------



## bigdog

Source: http://finance.yahoo.com 

The Dow Jones industrial average notched its ninth gain in a row, giving the index its longest winning streak in more than sixteen years. 

The index edged up 5.22 points, or 0.04 percent, to 14,455.28. The Dow has risen every day this month and is up 10.3 percent this year, having surpassed its previous all-time high of 14,164.53 March 5th. 

Demand for stocks has been propelled this year by optimism that the housing market is recovering and that companies have started to hire. Strong company earnings and ongoing stimulus from the Federal Reserve are also helping make stocks more attractive. 

The Dow's last nine-day winning streak was logged in May 1996. In November of the same year, in the early days of the technology boom, it gained for 10 straight days. 

Stocks overcame an early loss Wednesday, having edged lower at the start of the trading day despite an unexpectedly strong increase in U.S. consumer spending last month. 

Americans spent at the fastest pace in five months in February, boosting retail spending 1.1 percent compared with January, the Commerce Department reported Wednesday. Economists had forecast a rise of just 0.2 percent, according to data provider FactSet. 

The failure of the market to rally directly after the report suggests that the bar has now risen for investors as stocks have rallied. 

"As the market rises, so do expectations," said Bill Stone, chief investment strategist at PNC Wealth Management. "So, even if you get good numbers you don't necessarily get the market to go up." 

The solid increase in retail sales is encouraging for the economy because it shows that Americans kept spending despite a payroll tax increase that has lowered take-home pay this year for most workers. Consumer spending drives about 70 percent of the U.S. economy. 

The Standard & Poor's 500 index rose 2.04 points, or 0.1 percent, to 1,554.52. The Nasdaq composite rose 2.80 points, or 0.1 percent, to 3,245.12 

 *The NYSE DOW closed  	HIGHER ▲	5.22	points or ▲	0.04%	Wednesday, 13 March 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,455.28	▲	5.22	▲	0.04%	
	Nasdaq____	3,245.12	▲	2.80	▲	0.09%	
	S&P_500____	1,554.52	▲	2.04	▲	0.13%	
	30_Yr_Bond____	3.216	▼	0.00	▼	-0.09%	

NYSE Volume	 3,327,735,250 			 		 	
Nasdaq Volume	 1,575,786,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,481.50	▼	-29.12	▼	-0.45%	
	DAX_____	7,970.91	▲	4.79	▲	0.06%	
	CAC_40__	3,836.04	▼	-3.93	▼	-0.10%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,104.40	▼	-24.20	▼	-0.47%	
	Shanghai_Comp	2,263.97	▼	-22.64	▼	-0.99%	
	Taiwan_Weight	7,995.51	▲	0.80	▲	0.01%	
	Nikkei_225____	12,239.66	▼	-75.15	▼	-0.61%	
	Hang_Seng____	22,556.65	▲	53.93	▼	-1.46%	
	Strait_Times___	3,288.52	▼	-14.50	▼	-0.44%	
	NZX_50_Index__	4,341.15	▼	-37.62	▼	-0.86%	

http://finance.yahoo.com/news/dow-n...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Dow notches ninth gain in a row, longest since '96

Dow Jones industrial average extends winning streak to nine days; longest since 1996*

Steve Rothwell, AP Markets Writer

The Dow Jones industrial average notched its ninth gain in a row, giving the index its longest winning streak in more than sixteen years. 

The index edged up 5.22 points, or 0.04 percent, to 14,455.28. The Dow has risen every day this month and is up 10.3 percent this year, having surpassed its previous all-time high of 14,164.53 March 5th. 

Demand for stocks has been propelled this year by optimism that the housing market is recovering and that companies have started to hire. Strong company earnings and ongoing stimulus from the Federal Reserve are also helping make stocks more attractive. 

The Dow's last nine-day winning streak was logged in May 1996. In November of the same year, in the early days of the technology boom, it gained for 10 straight days. 

Stocks overcame an early loss Wednesday, having edged lower at the start of the trading day despite an unexpectedly strong increase in U.S. consumer spending last month. 

Americans spent at the fastest pace in five months in February, boosting retail spending 1.1 percent compared with January, the Commerce Department reported Wednesday. Economists had forecast a rise of just 0.2 percent, according to data provider FactSet. 

The failure of the market to rally directly after the report suggests that the bar has now risen for investors as stocks have rallied. 

"As the market rises, so do expectations," said Bill Stone, chief investment strategist at PNC Wealth Management. "So, even if you get good numbers you don't necessarily get the market to go up." 

The solid increase in retail sales is encouraging for the economy because it shows that Americans kept spending despite a payroll tax increase that has lowered take-home pay this year for most workers. Consumer spending drives about 70 percent of the U.S. economy. 

The Standard & Poor's 500 index rose 2.04 points, or 0.1 percent, to 1,554.52. The Nasdaq composite rose 2.80 points, or 0.1 percent, to 3,245.12 

Stocks of retail companies rose after the sales report. Kohl's rose $1.49, or 3.15 percent, to $48.82 and Best Buy gained 67 cents, or 3.3 percent, to $20.96. 

Brian Gendreau, a strategist at Cetera Financial Group, says that even if markets dip in coming weeks, the trend of rising company earnings is likely to push stocks higher in the longer term. So far companies have reported 7.7 percent earnings growth for the fourth quarter, the third straight quarter of gains, according to S&P Capital IQ. 

"Earnings growth has been quite strong. Corporations have found a way to make money," said Gendreau. "New products, new markets, cost savings. I don't believe that is going to stop any time soon." 

The S&P 500 index has gained 9 percent in 2013 and is within less than a percentage point of its record close of 1,565.15 set in October 2007. 

Stocks in Europe were mixed. Most markets edged lower after industrial production in the countries using the euro unexpectedly fell by 0.4 percent in January. Economists had expected it to rise by 0.1 percent, according to FactSet. 

The yield on the 10-year Treasury note was unchanged from late Tuesday at 2.02 percent. 

Among stocks making big moves; 

”” Spectrum Pharmaceuticals plunged $4.64, or 37 percent, to $7.79 after the pharmaceutical company said sales of its drug Fusilev could fall by more than half this year. 

”” Dole dropped $1.06, or 9 percent, to $10.67 after the company's fourth-quarter results fell short of analysts' expectations. The fruit company cited lower banana prices in North America. 

”” Express fell 60 cents, or 3.2 percent, to $18.25 after the clothing retailer's earnings report disappointed investors. Michael Weiss, the company's CEO and chairman, told analysts on a conference call that customer traffic was "down noticeably" compared to last year. 

”” Netflix rose $10.25, or 5.6 percent, to $192.36 after the internet video service said that it's adding a feature that will allow its subscribers in the U.S. to automatically swap movie and TV show recommendations with their friends on Facebook.


----------



## bigdog

Source: http://finance.yahoo.com 

The Dow Jones industrial average has reached another milestone, recording its longest winning streak since 1996. 

The index rose for the tenth straight day Thursday, gaining 83.86 points to close at 14,539.14. That's an increase of 0.6 percent. 

The last time the Dow knocked out 10 straight days of gains was November 1996. Back then, Internet companies were still lining up to go public and President Bill Clinton had just won another term in the White House. 

"It's just a good run," said Dan Greenhaus, chief global strategist at the brokerage BTIG. "And it speaks to optimism about the future." 

Encouraging news on jobs gave the market an early lift. The Standard & Poor's 500 index closed within two points of its all-time high reached in October 2007. 

The S&P 500 index gained 8.71 points to 1,563.23, a gain of 0.6 percent. 

Signs that the economic recovery is gaining strength have propelled the market higher since the beginning of March. 

Last month, the unemployment rate dipped to 7.7 percent, the lowest level since December 2008. Adding to evidence that the job market is improving, fewer Americans sought unemployment benefits last week. 

Record corporate profits and reassurances from Federal Reserve officials that they plan to keep interests rates at historically low levels have also helped push stocks higher. U.S. retail spending increased in February at the fastest pace in five months. That came despite higher payroll taxes kicking in at the beginning of the year. 

"We've been getting some really good economic statistics: jobless claims today and retail sales yesterday," said Doug Cote, chief market strategist for ING U.S. Investment Management. "And that's positive." 

The gains were broad on Thursday, though slight. All 10 industrial groups in the S&P 500 rose, led by energy companies. The Nasdaq composite rose 13.81, or 0.4 percent, to 3,258.93. 			

 *The NYSE DOW closed  	HIGHER ▲	83.86	points or ▲	0.58%	Thursday, 14 March 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,539.14	▲	83.86	▲	0.58%	
	Nasdaq____	3,258.93	▲	13.81	▲	0.43%	
	S&P_500____	1,563.23	▲	8.71	▲	0.56%	
	30_Yr_Bond____	3.240	▲	0.03	▲	0.81%	

NYSE Volume	 3,702,481,250 			 		 	
Nasdaq Volume	 1,653,121,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,529.41	▲	47.91	▲	0.74%	
	DAX_____	8,058.37	▲	87.46	▲	1.10%	
	CAC_40__	3,871.58	▲	35.54	▲	0.93%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,043.80	▼	-60.60	▼	-1.19%	
	Shanghai_Comp	2,270.28	▲	6.31	▲	0.28%	
	Taiwan_Weight	7,951.76	▼	-43.75	▼	-0.55%	
	Nikkei_225____	12,381.19	▲	141.53	▲	1.16%	
	Hang_Seng____	22,619.18	▲	53.93	▲	0.28%	
	Strait_Times___	3,279.50	▼	-9.02	▼	-0.27%	
	NZX_50_Index__	4,381.10	▲	39.95	▲	0.92%	

http://finance.yahoo.com/news/dow-r...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Dow rises 10 days running, S&P 500 nears record;

Dow climbs for 10 days straight, Standard & Poor's 500 closes within two points of record high*

Matthew Craft, AP Business Writer 

The Dow Jones industrial average has reached another milestone, recording its longest winning streak since 1996. 

The index rose for the tenth straight day Thursday, gaining 83.86 points to close at 14,539.14. That's an increase of 0.6 percent. 

The last time the Dow knocked out 10 straight days of gains was November 1996. Back then, Internet companies were still lining up to go public and President Bill Clinton had just won another term in the White House. 

"It's just a good run," said Dan Greenhaus, chief global strategist at the brokerage BTIG. "And it speaks to optimism about the future." 

Encouraging news on jobs gave the market an early lift. The Standard & Poor's 500 index closed within two points of its all-time high reached in October 2007. 

The S&P 500 index gained 8.71 points to 1,563.23, a gain of 0.6 percent. 

Signs that the economic recovery is gaining strength have propelled the market higher since the beginning of March. 

Last month, the unemployment rate dipped to 7.7 percent, the lowest level since December 2008. Adding to evidence that the job market is improving, fewer Americans sought unemployment benefits last week. 

Record corporate profits and reassurances from Federal Reserve officials that they plan to keep interests rates at historically low levels have also helped push stocks higher. U.S. retail spending increased in February at the fastest pace in five months. That came despite higher payroll taxes kicking in at the beginning of the year. 

"We've been getting some really good economic statistics: jobless claims today and retail sales yesterday," said Doug Cote, chief market strategist for ING U.S. Investment Management. "And that's positive." 

The gains were broad on Thursday, though slight. All 10 industrial groups in the S&P 500 rose, led by energy companies. The Nasdaq composite rose 13.81, or 0.4 percent, to 3,258.93. 

MGM Resorts International's stock gained 7 percent after its biggest shareholder, the financier Kirk Kerkorian, requested permission to raise his stake in MGM to a quarter of its shares. MGM owns the Bellagio, Mandalay Bay and other casinos on the Las Vegas Strip. 

Analysts say the stock market's surge this year will likely convince more people to move cash into stocks. The Dow is up 11 percent this year, the S&P 500 is up 9.6 percent. 

"When the markets are running you just want to be part of it," Cote said. "Sitting on the sidelines is the wrong move." 

So far, retail investors appear unsure. They put money in U.S. stock funds to start the year, but have withdrawn it for the last two weeks, according to a report out Wednesday from the Investment Company Institute. 

The rally may have pushed the Dow to record highs, but skeptics caution that markets regularly take sudden turns. Exactly one year ago, for instance, the Dow had already raced up 8 percent. But by June, all those gains were gone. 

Another note of caution: Former Federal Reserve Chairman Alan Greenspan made his famous "irrational exuberance" comment less than a month after the Dow's 10-day streak in November 1996. 

In the Treasury market, the yield on the 10-year note edged up to 2.03 percent from 2.02 percent late Wednesday. 

Among other stocks making big moves: 

”” Coldwater Creek jumped 9 percent after the retailer of women's clothing posted a loss late Wednesday that was smaller than analysts had expected. Its stock rose 28 cents to $3.49. 

”” Men's Wearhouse soared 19 percent after the clothing company said it would consider selling its K&G unit. The stock jumped $5.55 to $34.62.


----------



## bigdog

Source: http://finance.yahoo.com 

U.S. stock markets fell Friday, ending the longest winning streak for the Dow Jones industrial average in nearly 17 years. 

The Dow dropped 25.03 points, or 0.2 percent, to 14,514.11 The Standard & Poor's 500 index fell 2.5 points, or 0.2 percent, to 1,560.70, just shy of an all-time high from October 2007. The Nasdaq composite index dropped nine points, or 0.3 percent, to 3,249. 

The Dow had notched a 10-day winning streak through Thursday, its longest since November 1996. The string of wins pushed the blue-chip index up 484 points, or 3.4 percent, to a Thursday close of 14,539.14. The index's closing price on Feb. 28, just before the rally began, was 14,054.49. 

Trading Friday was tentative because investors feared that rising inflation could cause the Federal Reserve to retreat from policies aimed at boosting markets. The government said that consumer prices increased in February at the fastest pace in more than three years. 

The increase was driven by a spike in gas prices; the core index, which excludes the volatile energy and food categories, increased more modestly. But both figures rose 2 percent compared with a year earlier, enough to get investors' attention, said Peter Tchir, who runs the hedge fund TF Market Advisors. 

"It's real and it's a drag, and I think people are growing concerned that it can get out of control quickly," Tchir said. He said signs of economic improvement and inflation "make them wonder if there will be continued market pressure on the Fed" to end its bond-buying programs. 

The market's recent rally to multiyear highs was fueled in part by the Fed's efforts to keep interest rates low and encourage investment. 

The Dow's win streak matched a 10-day run that ended on Nov. 15, 1996. To find a longer uninterrupted series of gains, you would have to go back to Jan. 3, 1992, when the Dow rose for 11 consecutive days. 

The index's longest winning streak was 14 days, ending June 14, 1897. 

 *The NYSE DOW closed  	LOWER ▼	-25.03	points or ▼	-0.17%	Friday, 15 March 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,514.11	▼	-25.03	▼	-0.17%	
	Nasdaq____	3,249.07	▼	-9.86	▼	-0.30%	
	S&P_500____	1,560.70	▼	-2.53	▼	-0.16%	
	30_Yr_Bond____	3.220	▼	-0.02	▼	-0.52%	

NYSE Volume	 5,243,461,500 			 		 	
Nasdaq Volume	 2,156,818,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,489.65	▼	-39.76	▼	-0.61%	
	DAX_____	8,042.85	▼	-15.52	▼	-0.19%	
	CAC_40__	3,844.03	▼	-27.55	▼	-0.71%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,129.30	▲	85.50	▲	1.70%	
	Shanghai_Comp	2,278.40	▲	8.12	▲	0.36%	
	Taiwan_Weight	7,927.49	▼	-24.27	▼	-0.31%	
	Nikkei_225____	12,560.95	▲	179.76	▲	1.45%	
	Hang_Seng____	22,533.11	▲	53.93	▼	-0.38%	
	Strait_Times___	3,286.05	▲	6.55	▲	0.20%	
	NZX_50_Index__	4,387.06	▲	5.96	▲	0.14%	

http://finance.yahoo.com/news/us-stocks-close-lower-ending-205230834.html

*US stocks close lower, ending Dow's 10-day rally

US stocks fall on concern about inflation concern, ending Dow's 10-day winning streak*

By Daniel Wagner, AP Business Writer

U.S. stock markets fell Friday, ending the longest winning streak for the Dow Jones industrial average in nearly 17 years. 

The Dow dropped 25.03 points, or 0.2 percent, to 14,514.11 The Standard & Poor's 500 index fell 2.5 points, or 0.2 percent, to 1,560.70, just shy of an all-time high from October 2007. The Nasdaq composite index dropped nine points, or 0.3 percent, to 3,249. 

The Dow had notched a 10-day winning streak through Thursday, its longest since November 1996. The string of wins pushed the blue-chip index up 484 points, or 3.4 percent, to a Thursday close of 14,539.14. The index's closing price on Feb. 28, just before the rally began, was 14,054.49. 

Trading Friday was tentative because investors feared that rising inflation could cause the Federal Reserve to retreat from policies aimed at boosting markets. The government said that consumer prices increased in February at the fastest pace in more than three years. 

The increase was driven by a spike in gas prices; the core index, which excludes the volatile energy and food categories, increased more modestly. But both figures rose 2 percent compared with a year earlier, enough to get investors' attention, said Peter Tchir, who runs the hedge fund TF Market Advisors. 

"It's real and it's a drag, and I think people are growing concerned that it can get out of control quickly," Tchir said. He said signs of economic improvement and inflation "make them wonder if there will be continued market pressure on the Fed" to end its bond-buying programs. 

The market's recent rally to multiyear highs was fueled in part by the Fed's efforts to keep interest rates low and encourage investment. 

The Dow's win streak matched a 10-day run that ended on Nov. 15, 1996. To find a longer uninterrupted series of gains, you would have to go back to Jan. 3, 1992, when the Dow rose for 11 consecutive days. 

The index's longest winning streak was 14 days, ending June 14, 1897. 

Stocks opened lower and extended their losses at 10 a.m. after a closely-watched index of consumer sentiment fell to its lowest level since the end of 2011. The University of Michigan's preliminary consumer sentiment index dropped 5.8 points to 71.8, according JPMorgan analyst Daniel Silver said in a note to clients. 

Stocks reversed the losses briefly at midday, then drifted back down in the afternoon. 

Traders are processing big banks' scores on "stress tests" administered by the Fed. The Fed said late Thursday that JPMorgan Chase and Goldman Sachs both need better plans to cope with a severe recession. It gave them until September to revise their plans. 

Still, the Fed allowed both banks to increase their dividends and buy back their stock, signaling that regulators believe the banks are fundamentally sound. 

The stock of JPMorgan fell 98 cents, or 1.9 percent, to $50.02. Goldman's stock rose 82 cents, or 0.5 percent, to $154.84. 

The S&P 500 closed just five points from its all-time closing high of 1,565, reached in October 2007. 

The yield on the 10-year Treasury note fell to 1.99 percent from 2.06 percent early Thursday, as demand increased for ultra-safe investments. 

Among the other companies making big moves: 

”” Cruise ship operator Carnival Corp. fell 78 cents, or 2.2 percent, to $34.95. The company said passengers have been booking vacations at a slower pace after a series of high-profile mishaps. 

”” Krispy Kreme Doughnuts Inc. plunged after saying its fiscal fourth-quarter net income dropped sharply and fell short of expectations. The stock fell 41 cents, or 2.7 percent, to $14.54. 

”” Teen apparel chain Aeropostale Inc. fell 76 cents, or 5.2 percent, to $13.75, after posting a loss in its fiscal fourth quarter and saying it expects another one in the current quarter.

7951


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks are closed lower on Wall Street as investors worried that a controversial proposal to seize money from depositors in Cyprus could set off another bout of anxiety over Europe's shared currency. 

The Dow Jones industrial average fell 62.05 points, or 0.4 percent, to 14,452.06 Monday. It had plunged as much as 110 points in the early going, briefly turned positive in the afternoon then fell back again in the last hour of trading. 

The Standard & Poor's 500 fell 8.60 points, or 0.6 percent, to 1,552.10 The Nasdaq composite dropped 11.48 points, or 0.4 percent, to 3,237.59. 

European markets recovered most of an early slide and closed with modest losses. Yields on government bonds issued by Spain and Italy edged higher and the euro fell to a three-month low against the dollar. 

The market rally that has pushed the Dow to record levels this year has been punctuated by concerns about the euro-region's lingering debt crisis. The Dow fell 1.6 percent Feb. 25, its biggest wobble this year, after elections in Italy threw the country into political paralysis, endangering crucial economic reforms. 

"Europe has got problems," said Uri Landesman, president of Platinum Partners, a hedge fund. "You could get more stuff like this and the market isn't priced to handle that." 

A weekend agreement between Cyprus and its European partners called for the government to raid bank accounts as part of a â‚¬15.8 billion ($20.4 billion) financial bailout, the first time in the euro zone crisis that the prospect of seizing individuals' savings has been raised. The measures are stoking fears of bank runs in the other 16 nations that use the euro. 

Cypriot authorities, facing an uproar, delayed a parliamentary vote on the seizure and ordered the country's banks to remain closed until Thursday while they try to modify the deal to lessen the impact on small depositors. 

Markets in Europe and Asia also fell during early trading, before retracing some of their losses later in the day. Germany's DAX index dropped 0.4 percent and Spain's main stock index shed 1.3 percent. Indexes in Britain and France each lost 0.5 percent. 

The euro fell almost a penny against the dollar to $1.2954, touching its lowest level in three months. Gold climbed $12 to $1,604.60 an ounce. 

The U.S. stock market's reaction to euro zone developments has become more muted over time. 

The Dow slumped more than 8 percent last year between May 1 and June 1 on concerns that Spain and Italy would be dragged into Europe's debt crisis. While the Dow initially dropped last month in reaction to the Italian election results, it has since gained 4.6 percent. Likewise the market recovered much of the early loss Monday prompted by Cyprus's bailout deal. 

 *The NYSE DOW closed  	LOWER ▼	-62.05	points or ▼	-0.43%	Monday, 18 March 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,452.06	▼	-62.05	▼	-0.43%	
	Nasdaq____	3,237.59	▼	-11.48	▼	-0.35%	
	S&P_500____	1,552.10	▼	-8.60	▼	-0.55%	
	30_Yr_Bond____	3.180	▼	-0.04	▼	-1.24%	

NYSE Volume	 3,522,989,250 			 		 	
Nasdaq Volume	 1,552,838,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,457.92	▼	-31.73	▼	-0.49%	
	DAX_____	8,010.70	▼	-32.15	▼	-0.40%	
	CAC_40__	3,825.47	▼	-18.56	▼	-0.48%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,027.40	▼	-101.90	▼	-1.99%	
	Shanghai_Comp	2,240.02	▼	-38.39	▼	-1.68%	
	Taiwan_Weight	7,811.34	▼	-116.15	▼	-1.47%	
	Nikkei_225____	12,220.63	▼	-340.32	▼	-2.71%	
	Hang_Seng____	22,083.36	▲	53.93	▼	-2.00%	
	Strait_Times___	3,256.47	▼	-29.58	▼	-0.90%	
	NZX_50_Index__	4,341.02	▼	-46.03	▼	-1.05%	

http://finance.yahoo.com/news/stocks-falter-following-cypruss-bailout-201243246.html

*Stocks falter following Cyprus's bailout plan

Cyprus's plan to seize funds from depositors unsettles markets, reawakes euro zone worries*

By Steve Rothwell, AP Business Writer 

Stocks are closed lower on Wall Street as investors worried that a controversial proposal to seize money from depositors in Cyprus could set off another bout of anxiety over Europe's shared currency. 

The Dow Jones industrial average fell 62.05 points, or 0.4 percent, to 14,452.06 Monday. It had plunged as much as 110 points in the early going, briefly turned positive in the afternoon then fell back again in the last hour of trading. 

The Standard & Poor's 500 fell 8.60 points, or 0.6 percent, to 1,552.10 The Nasdaq composite dropped 11.48 points, or 0.4 percent, to 3,237.59. 

European markets recovered most of an early slide and closed with modest losses. Yields on government bonds issued by Spain and Italy edged higher and the euro fell to a three-month low against the dollar. 

The market rally that has pushed the Dow to record levels this year has been punctuated by concerns about the euro-region's lingering debt crisis. The Dow fell 1.6 percent Feb. 25, its biggest wobble this year, after elections in Italy threw the country into political paralysis, endangering crucial economic reforms. 

"Europe has got problems," said Uri Landesman, president of Platinum Partners, a hedge fund. "You could get more stuff like this and the market isn't priced to handle that." 

A weekend agreement between Cyprus and its European partners called for the government to raid bank accounts as part of a â‚¬15.8 billion ($20.4 billion) financial bailout, the first time in the euro zone crisis that the prospect of seizing individuals' savings has been raised. The measures are stoking fears of bank runs in the other 16 nations that use the euro. 

Cypriot authorities, facing an uproar, delayed a parliamentary vote on the seizure and ordered the country's banks to remain closed until Thursday while they try to modify the deal to lessen the impact on small depositors. 

Markets in Europe and Asia also fell during early trading, before retracing some of their losses later in the day. Germany's DAX index dropped 0.4 percent and Spain's main stock index shed 1.3 percent. Indexes in Britain and France each lost 0.5 percent. 

The euro fell almost a penny against the dollar to $1.2954, touching its lowest level in three months. Gold climbed $12 to $1,604.60 an ounce. 

The U.S. stock market's reaction to euro zone developments has become more muted over time. 

The Dow slumped more than 8 percent last year between May 1 and June 1 on concerns that Spain and Italy would be dragged into Europe's debt crisis. While the Dow initially dropped last month in reaction to the Italian election results, it has since gained 4.6 percent. Likewise the market recovered much of the early loss Monday prompted by Cyprus's bailout deal. 

The yield on the 10-year U.S. Treasury bond, which moves inversely to its price, fell to 1.96 percent from 1.99 percent as investors moved money into low-risk investments. Yields on bonds issued by Spain and Italy, the two most vulnerable large European economies, rose but only slightly. Spain's benchmark 10-year yield rose to 4.97 percent from 4.91 percent, and Italy's rose to 4.57 percent from 4.55 percent. 

The stock market's resilience suggests that traders consider the Cyprus situation to be contained for now, said Quincy Krosby, a market strategist for Prudential. The threat of rising volatility may also deter the Fed from thinking about ending its economic stimulus program. The central bank starts its second two-day policy meeting of the year Tuesday. 

"Absent the Cyprus flare-up, the markets were slowing a bit and it looked as if investors were digesting the gains and waiting for the next catalyst," said Krosby. 

Financial stocks were the biggest decliners in the S&P 500. Investment bank Morgan Stanley fell 60 cents, or 2.5 percent, to $22.99. Citigroup dropped $1.02, or 2.2 percent, to $46.24. 

Goldman Sachs said Monday that it had lifted its end-of-year target for the S&P 500 to 1,625 from its previous target of 1,575. The investment bank is forecasting that the U.S. economy will grow 2 percent this year and 2.9 percent next year. It also predicts that corporate deals and dividend payments will increase. 

Deutsche Bank also said Monday it was lifting its year-end prediction for the S&P 500 to 1,625 from 1,600, forecasting an upturn in business spending. 

Among other stocks making big moves: 

”” Schlumberger dropped $3.06, or 3.9 percent, to $76.34 after the oilfield services company said that its first quarter activity was below its expectations as customers reactivated fewer rigs than forecast. 

”” Boeing fell $1.25, or 1.4 percent, to $85.18 after archrival Airbus signed its biggest deal of all time on Monday. The European plane maker won an order from Indonesia's Lion Air worth 18.4 billion euros ($24 billion) for its short haul A320 and A321 jets.


----------



## bigdog

Source: http://finance.yahoo.com 

The latest twists in Europe's debt drama weighed down the stock market Tuesday, offsetting more good news on the U.S. housing market. 

The Dow Jones industrial average managed a gain of just four points, while other indexes closed slightly lower. Investors were focused on Cyprus, where the Mediterranean country's lawmakers voted against a proposed bailout plan for banks that would have called for raiding the savings accounts of ordinary citizens, setting a new precedent in Europe's ongoing debt crisis. 

The plan was rejected ”” with zero votes in favor ”” even after being changed to lessen the burden on savers with lower balances. The vote leaves the Cyprus's bailout from international lenders in question, and without external funds the country's banks could face collapse and the government could wind up having to leave Europe's joint currency. 

Many investors are betting the worst-case scenarios won't come to pass, however, especially since Europe's powerful central banker, European Central Bank President Mario Draghi, has vowed to take any steps necessary to preserve the 17-nation currency union. 

"The concern in the market is that they could default or they could be forced out of the euro zone and that would create a precedent," said Alec Young, a global equity strategist with S&P Capital IQ. "The selling, though, is fairly contained, and that tells you most people think there will be some kind of compromise reached." 

The Dow and other U.S. indexes started higher following a report of a surprisingly large increase in new home construction in February. The index gained as much as 62 points in morning trading. 

It turned lower at midday as Cyprus' parliament began debating the contentious plan demanded by the country's lenders to seize as much as 10 percent of the funds in savings accounts. The market steadied in the afternoon after the vote occurred and a move to delay it was turned down. 

The euro zone's debt crisis still has the power to captivate stock global markets, but investors worry about it less these days after Draghi pledged last year to do "whatever it takes" to preserve the euro. 

The Dow's biggest wobble this year came Feb. 26, when it lost 1.6 percent after the results of Italian elections left the country in political turmoil, endangering crucial economic reforms. Even that was a less dramatic response than sell-offs a year ago when borrowing rates spiked for Spain and Italy as investors lost confidence in the ability of those countries to service their debt. 

On Tuesday the Dow rose 3.76 points, or 0.03 percent, to close at 14,455.82. 

Other major market indexes fell slightly. The Standard & Poor's 500 fell 3.76 points, or 0.2 percent, to 1,548.34. The Nasdaq composite fell 8.50 points, or 0.3 percent, to 3,229.10. 

Markets declined Monday, with the Dow giving up 62 points, following a weekend of drama as Cyprus' leaders acceded to the demands from European lenders to seize depositors' funds, which were met with outrage. While the reaction Tuesday was more muted, investors were still watching closely to see if the situation takes a turn for the worse. 

 *The NYSE DOW closed  	HIGHER ▲	3.76	points or ▲	0.03%	Tuesday, 19 March 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,455.82	▲	3.76	▲	0.03%	
	Nasdaq____	3,229.10	▼	-8.49	▼	-0.26%	
	S&P_500____	1,548.34	▼	-3.76	▼	-0.24%	
	30_Yr_Bond____	3.130	▼	-0.05	▼	-1.57%	

NYSE Volume	 4,241,452,500 			 		 	
Nasdaq Volume	 1,697,940,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,441.32	▼	-16.60	▼	-0.26%	
	DAX_____	7,947.79	▼	-62.91	▼	-0.79%	
	CAC_40__	3,775.75	▼	-49.72	▼	-1.30%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,004.40	▼	-23.00	▼	-0.46%	
	Shanghai_Comp	2,257.43	▲	17.42	▲	0.78%	
	Taiwan_Weight	7,838.47	▲	27.13	▲	0.35%	
	Nikkei_225____	12,468.23	▲	247.60	▲	2.03%	
	Hang_Seng____	22,041.86	▲	53.93	▼	-0.19%	
	Strait_Times___	3,270.68	▲	14.21	▲	0.44%	
	NZX_50_Index__	4,345.04	▲	4.02	▲	0.09%	

http://finance.yahoo.com/news/wall-street-holds-own-cyprus-210907368.html

*Wall Street holds its own after Cyprus 'no' vote

Investors unfazed after Cyprus rejects onerous bailout terms; US markets end little changed*

By Steve Rothwell, AP Business Writer

The latest twists in Europe's debt drama weighed down the stock market Tuesday, offsetting more good news on the U.S. housing market. 

The Dow Jones industrial average managed a gain of just four points, while other indexes closed slightly lower. Investors were focused on Cyprus, where the Mediterranean country's lawmakers voted against a proposed bailout plan for banks that would have called for raiding the savings accounts of ordinary citizens, setting a new precedent in Europe's ongoing debt crisis. 

The plan was rejected ”” with zero votes in favor ”” even after being changed to lessen the burden on savers with lower balances. The vote leaves the Cyprus's bailout from international lenders in question, and without external funds the country's banks could face collapse and the government could wind up having to leave Europe's joint currency. 

Many investors are betting the worst-case scenarios won't come to pass, however, especially since Europe's powerful central banker, European Central Bank President Mario Draghi, has vowed to take any steps necessary to preserve the 17-nation currency union. 

"The concern in the market is that they could default or they could be forced out of the euro zone and that would create a precedent," said Alec Young, a global equity strategist with S&P Capital IQ. "The selling, though, is fairly contained, and that tells you most people think there will be some kind of compromise reached." 

The Dow and other U.S. indexes started higher following a report of a surprisingly large increase in new home construction in February. The index gained as much as 62 points in morning trading. 

It turned lower at midday as Cyprus' parliament began debating the contentious plan demanded by the country's lenders to seize as much as 10 percent of the funds in savings accounts. The market steadied in the afternoon after the vote occurred and a move to delay it was turned down. 

The euro zone's debt crisis still has the power to captivate stock global markets, but investors worry about it less these days after Draghi pledged last year to do "whatever it takes" to preserve the euro. 

The Dow's biggest wobble this year came Feb. 26, when it lost 1.6 percent after the results of Italian elections left the country in political turmoil, endangering crucial economic reforms. Even that was a less dramatic response than sell-offs a year ago when borrowing rates spiked for Spain and Italy as investors lost confidence in the ability of those countries to service their debt. 

On Tuesday the Dow rose 3.76 points, or 0.03 percent, to close at 14,455.82. 

Other major market indexes fell slightly. The Standard & Poor's 500 fell 3.76 points, or 0.2 percent, to 1,548.34. The Nasdaq composite fell 8.50 points, or 0.3 percent, to 3,229.10. 

Markets declined Monday, with the Dow giving up 62 points, following a weekend of drama as Cyprus' leaders acceded to the demands from European lenders to seize depositors' funds, which were met with outrage. While the reaction Tuesday was more muted, investors were still watching closely to see if the situation takes a turn for the worse. 

"The situation in Cyprus is keeping everyone glued to their TVs," Joseph Tanious, global market strategist at J.P. Morgan Funds, said before the vote. 

Tanious says investors shouldn't immediately overreact to the news coming out of Europe, but instead take a step back and remember Draghi's pledge. "Do not underestimate the power of the ECB," said Tanious. 

U.S. markets have been on a roll this year. The Dow is up 10.3 percent and broke through its previous all-time high on March 5, driven by strength in housing and a pickup in hiring. Strong company earnings and continuing stimulus from the Federal Reserve is also helping boost demand for stocks. 

The S&P 500 is up 8.6 percent in 2013 and is 1.1 percent away from its record close of 1,565.15 reached October 2007. 

The Federal Reserve opened its second policy meeting of the year Tuesday. On Wednesday, it will issue a policy statement and update its economic forecasts. Economists and investors don't expect the Fed to let up in its drive to keep stimulating the economy by keeping interest rates at historic lows. 

"The Fed has clearly been a big push in this market, no question," said Maury Fertig, chief investment officer at Relative Value Partners. "What the Fed has done has really helped the market recover....they're not going to pull away prematurely." 

Investors are increasingly putting more money to stocks, according to a Bank of America Merrill Lynch survey, published Tuesday. The survey of fund managers showed that 57 percent of investors favored allocating money to stocks, the highest percentage in more than two years. 

The yield on the 10-year Treasury note, which moves inversely to its price, fell to 1.91 percent from 1.96 percent. That's a signal investors were moving money into low-risk assets. 

Among other stocks making big moves: 

”” Lululemon fell $1.82, or 2.8 percent, to $64.08 after the company yanked its popular black yoga pants from store shelves after it found that the sheer material used was too revealing. 

”” Electronic Arts fell $1.56, or 8.3 percent, to $17.15 after the video game maker said its adjusted revenue fell 28 percent to $1.18 billion for the last three months of 2012. The figure was below Wall Street's expectations. The company also said its CEO, John Riccitiello, will step down on March 30.


----------



## bigdog

Source: http://finance.yahoo.com 

Fear of a revived debt crisis in Europe faded from the stock market Wednesday, freeing the Dow Jones industrial average to touch an all-time high. 

After dipping Monday on concerns that Cyprus would become the latest European nation to stir fiscal chaos, the Dow posted its second straight day of gains. 

Stocks traded steadily higher for most of the day and spiked after the Federal Reserve said it will continue with aggressive measures to boost the economy. Fed Chairman Ben Bernanke said that Cyprus crisis posed no major risk to the U.S. economy. 

The Dow was up 44 points shortly before the Fed announcement. It rose as much as 91 points shortly after the Fed released its policy statement at 2 p.m., touching an all-time high of 14,546 at 2:25 p.m. 

The Fed said the U.S. economy has strengthened after pausing late last year, but still needs support from the central bank. The Fed plans to continue buying $85 billion in bonds per month indefinitely to keep long-term borrowing costs down and spur investment. It also said it would keep short-term interest rates at record lows, at least until unemployment falls to 6.5 percent. 

Unemployment fell last month to 7.7 percent, the lowest in four years. The Fed doesn't expect the rate to reach its target until 2015. 

The Dow closed up 55.91 points Wednesday, or 0.4 percent, to 14,511.73. 

Stock markets were little changed Tuesday despite rising uncertainty in Cyprus. Anyone watching "would conclude that the market decided Cyprus is overblown as an issue," said Brian Gendreau, a strategist at Cetera Financial Group. 

Gendreau said traders had been concerned about what precedent might be set by Cyprus' efforts to avoid a crisis. A plan to seize money from bank savings accounts was met with outrage and was rejected Tuesday by the island nation's parliament. 

The nation's unusual status as an international financial haven makes it an unlikely roadmap for future rescue efforts. 

"I think the market's going to start looking at other things," he said. 

Cyprus was negotiating with international lenders, seeking support for its ailing financial system. Without a bailout deal, Cyprus' banks could collapse, devastating the country's economy and potentially forcing it to exit the euro currency group. That could roil global financial markets. 		

 *The NYSE DOW closed  	HIGHER ▲	55.91	points or ▲	0.39%	Wednesday, 20 March 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,511.73	▲	55.91	▲	0.39%	
	Nasdaq____	3,254.19	▲	25.09	▲	0.78%	
	S&P_500____	1,558.71	▲	10.37	▲	0.67%	
	30_Yr_Bond____	3.170	▲	0.04	▲	1.18%	

NYSE Volume	 3,667,807,750 			 		 	
Nasdaq Volume	 1,597,681,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,432.70	▼	-8.62	▼	-0.13%	
	DAX_____	8,001.97	▲	54.18	▲	0.68%	
	CAC_40__	3,829.56	▲	53.81	▲	1.43%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,982.60	▼	-21.80	▼	-0.44%	
	Shanghai_Comp	2,317.37	▲	59.94	▲	2.66%	
	Taiwan_Weight	7,798.03	▼	-40.44	▼	-0.52%	
	Nikkei_225____	12,468.23	▲	247.60	▲	2.03%	
	Hang_Seng____	22,256.44	▲	53.93	▲	0.97%	
	Strait_Times___	3,248.40	▼	-20.73	▼	-0.63%	
	NZX_50_Index__	4,349.43	▲	8.41	▲	0.19%	

http://finance.yahoo.com/news/stocks-rise-federal-stands-stimulus-183434115.html

*Stocks rise as Federal Reserve stands by stimulus

Stocks rise as Federal Reserve stands by aggressive economic stimulus; Cyprus concerns fade*

By Daniel Wagner, AP Business Writer

Fear of a revived debt crisis in Europe faded from the stock market Wednesday, freeing the Dow Jones industrial average to touch an all-time high. 

After dipping Monday on concerns that Cyprus would become the latest European nation to stir fiscal chaos, the Dow posted its second straight day of gains. 

Stocks traded steadily higher for most of the day and spiked after the Federal Reserve said it will continue with aggressive measures to boost the economy. Fed Chairman Ben Bernanke said that Cyprus crisis posed no major risk to the U.S. economy. 

The Dow was up 44 points shortly before the Fed announcement. It rose as much as 91 points shortly after the Fed released its policy statement at 2 p.m., touching an all-time high of 14,546 at 2:25 p.m. 

The Fed said the U.S. economy has strengthened after pausing late last year, but still needs support from the central bank. The Fed plans to continue buying $85 billion in bonds per month indefinitely to keep long-term borrowing costs down and spur investment. It also said it would keep short-term interest rates at record lows, at least until unemployment falls to 6.5 percent. 

Unemployment fell last month to 7.7 percent, the lowest in four years. The Fed doesn't expect the rate to reach its target until 2015. 

The Dow closed up 55.91 points Wednesday, or 0.4 percent, to 14,511.73. 

Stock markets were little changed Tuesday despite rising uncertainty in Cyprus. Anyone watching "would conclude that the market decided Cyprus is overblown as an issue," said Brian Gendreau, a strategist at Cetera Financial Group. 

Gendreau said traders had been concerned about what precedent might be set by Cyprus' efforts to avoid a crisis. A plan to seize money from bank savings accounts was met with outrage and was rejected Tuesday by the island nation's parliament. 

The nation's unusual status as an international financial haven makes it an unlikely roadmap for future rescue efforts. 

"I think the market's going to start looking at other things," he said. 

Cyprus was negotiating with international lenders, seeking support for its ailing financial system. Without a bailout deal, Cyprus' banks could collapse, devastating the country's economy and potentially forcing it to exit the euro currency group. That could roil global financial markets. 

Attention had returned to Europe this week after several months' respite, during which traders focused on the strengthening U.S. economy and drove stocks to multi-year highs. 

Over the previous two years, concerns about a breakup of the euro currency often dominated trading of U.S. stocks. The jitters receded after central banks provided enough extra cash to help prop up Europe's commercial banks. 

Among stocks making big news was FedEx. The shipping company reported sharply lower quarterly earnings and said it will cut capacity to Asia. FedEx is seen as a bellwether for the broader economy because air shipments are tied closely to the pace of business activity. 

FedEx sank $7.33, or 6.9 percent, to $99.13. 

Adobe soared after reporting strong first-quarter earnings. The company, which makes Adobe Reader and Photoshop, said it has picked up more subscriptions to online versions of its software products. The stock rose $1.71, or 4.2 percent, to $42.46. 

In other trading, the Standard & Poor's 500 index rose 10.37 points, or 0.7 percent, to 1,558.71. The Nasdaq composite index rose 25.09, or 0.8 percent, to 3,254.19. 

The S&P 500 is just six points below its all-time high of 1,565, reached in October 2007. It is up 9.3 percent so far this year. 

The Dow is up 10.7 percent for the year. From March 1 through March 14, the index had a 10-day winning streak ”” its longest since 1996. The streak boosted the Dow by 484 points, to 14,539. Following a two-day dip Friday and Monday, the Dow has added 60 points to 14,511. 

Among the other stocks making big moves: 

”” General Mills rose $1.19, or 2.6 percent, to $47.61 after saying its fiscal third-quarter profit rose 2 percent. The food company is benefiting from recent acquisitions. 

”” Williams-Sonoma soared after the home goods retailer said its fourth-quarter net income jumped 9 percent and beat expectations. The stock rose $4.64, or 10.3 percent, to $49.85


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks closed lower on Wall Street Thursday after Oracle's weak sales results weighed down big U.S. technology companies. Traders also worried about Cyprus running out of time to avoid bankruptcy. 

Major indexes followed European markets lower at the open and remained solidly negative all day. The Dow Jones industrial average fell as much as 129 points by mid-afternoon before paring the loss to close down 90 points. 

All three major indexes felt the drag from technology stocks after Oracle reported an unexpected decline in sales in its fiscal third quarter. Oracle's results have an outsized impact on other technology stocks because it reports earlier than most of its peers. 

European markets had closed sharply lower. The main indexes in Paris and Frankfurt fell 1.4 percent and 0.9 percent, respectively, on fear that the crisis in Cyprus will intensify. The European Central Bank has threatened to end emergency support of the nation's banks next week unless leaders can secure more funding. 

Cyprus must raise about $7.5 billion in the next four days to avoid bankruptcy. Several plans have failed, including a proposal to tax deposits held by the nation's banks. If the Mediterranean banking haven is unable to secure a bailout, its banks will fail and it could be forced to leave the euro currency. Worries about that scenario first hit stock markets Monday. 

"It's amazing how quickly things can turn back to Cyprus and Europe," said Oliver Cross, director of research with Carolinas Investment Consulting LLC in Charlotte, N.C. Cross spent his day focused on headlines from Europe, rather than digesting happier news about hiring and home sales in the U.S. 

Oracle was the biggest decliner in the S&P 500 index; Juniper Networks also fell steeply. The S&P 500 closed down 12.91 points, or 0.8 percent, at 1,545.80. 

The Dow dropped 90.24 points, or 0.6 percent, to 14,421.49. Cisco was the Dow's biggest loser, followed by H-P. IBM also lost ground. 

The Nasdaq, which is weighted heavily toward tech stocks, fell a full percentage point. It closed down 31.59 points at 3,222.60. 

Despite being down for the week, the Dow remains near a record high. Its run-up has been powered by optimism about the U.S. economy and the Federal Reserve's easy-money policies. The Dow is up 2.6 percent this month. The S&P 500 has gained 2.1 percent in March, and is 20 points from its own all-time high set in October 2007. 

Given the market's recent strength, many analysts have been anticipating a sharp decline at the first sign of bad news ”” whether from Europe, corporate America or the U.S. economy. 

 *The NYSE DOW closed  	LOWER ▼	-90.24	points or ▼	-0.62%	Thursday, 21 March 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,421.49	▼	-90.24	▼	-0.62%	
	Nasdaq____	3,222.60	▼	-31.59	▼	-0.97%	
	S&P_500____	1,545.80	▼	-12.91	▼	-0.83%	
	30_Yr_Bond____	3.155	▼	-0.02	▼	-0.54%	

NYSE Volume	 3,571,193,250 			 		 	
Nasdaq Volume	 1,691,752,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,388.55	▼	-44.15	▼	-0.69%	
	DAX_____	7,932.51	▼	-69.46	▼	-0.87%	
	CAC_40__	3,774.85	▼	-54.71	▼	-1.43%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,976.80	▼	-5.80	▼	-0.12%	
	Shanghai_Comp	2,324.24	▲	6.87	▲	0.30%	
	Taiwan_Weight	7,811.84	▲	13.81	▲	0.18%	
	Nikkei_225____	12,635.69	▲	167.46	▲	1.34%	
	Hang_Seng____	22,225.88	▲	53.93	▼	-0.14%	
	Strait_Times___	3,267.65	▲	19.25	▲	0.59%	
	NZX_50_Index__	4,342.50	▼	-6.93	▼	-0.16%	

http://finance.yahoo.com/news/weak-oracle-sales-cyprus-fears-211827345.html

*Weak Oracle sales, Cyprus fears weigh on US stocks

US stocks fall as Oracle's weak sales drag on tech shares, worries about Cyprus crisis persist*

By Daniel Wagner, AP Business Writer

Stocks closed lower on Wall Street Thursday after Oracle's weak sales results weighed down big U.S. technology companies. Traders also worried about Cyprus running out of time to avoid bankruptcy. 

Major indexes followed European markets lower at the open and remained solidly negative all day. The Dow Jones industrial average fell as much as 129 points by mid-afternoon before paring the loss to close down 90 points. 

All three major indexes felt the drag from technology stocks after Oracle reported an unexpected decline in sales in its fiscal third quarter. Oracle's results have an outsized impact on other technology stocks because it reports earlier than most of its peers. 

European markets had closed sharply lower. The main indexes in Paris and Frankfurt fell 1.4 percent and 0.9 percent, respectively, on fear that the crisis in Cyprus will intensify. The European Central Bank has threatened to end emergency support of the nation's banks next week unless leaders can secure more funding. 

Cyprus must raise about $7.5 billion in the next four days to avoid bankruptcy. Several plans have failed, including a proposal to tax deposits held by the nation's banks. If the Mediterranean banking haven is unable to secure a bailout, its banks will fail and it could be forced to leave the euro currency. Worries about that scenario first hit stock markets Monday. 

"It's amazing how quickly things can turn back to Cyprus and Europe," said Oliver Cross, director of research with Carolinas Investment Consulting LLC in Charlotte, N.C. Cross spent his day focused on headlines from Europe, rather than digesting happier news about hiring and home sales in the U.S. 

Oracle was the biggest decliner in the S&P 500 index; Juniper Networks also fell steeply. The S&P 500 closed down 12.91 points, or 0.8 percent, at 1,545.80. 

The Dow dropped 90.24 points, or 0.6 percent, to 14,421.49. Cisco was the Dow's biggest loser, followed by H-P. IBM also lost ground. 

The Nasdaq, which is weighted heavily toward tech stocks, fell a full percentage point. It closed down 31.59 points at 3,222.60. 

Despite being down for the week, the Dow remains near a record high. Its run-up has been powered by optimism about the U.S. economy and the Federal Reserve's easy-money policies. The Dow is up 2.6 percent this month. The S&P 500 has gained 2.1 percent in March, and is 20 points from its own all-time high set in October 2007. 

Given the market's recent strength, many analysts have been anticipating a sharp decline at the first sign of bad news ”” whether from Europe, corporate America or the U.S. economy. 

The pullback has not materialized, said Troy Logan, managing director and senior economist at Warren Financial Service in Exton, Penn. He said today's losses could have been much worse. 

"We thought Cyprus would be the perfect opportunity for the market to step back, but it looks like the market has shrugged it off," Logan said. 

Many of his firm's customers are seeking higher-risk investments with higher potential returns, Logan said ”” an indication that stocks may keep rising. 

The U.S. job and housing markets continue to improve gradually, according to economic reports released Thursday morning. The Labor Department said the number of people claiming new unemployment benefits last week was roughly flat near a five-year low. Sales of existing homes rose in February to a three-year high, according to the National Association of Realtors. 

The yield on the 10-year U.S. Treasury note fell to 1.92 percent from 1.96 percent earlier Thursday as demand increased for ultra-safe investments. 

In the tumbling tech sector, Oracle fell $3.47, or 9.7 percent, to $32.30. Juniper dropped 42 cents, or 2.2 percent, to $18.89. Cisco list 83 cents, or 3.8 percent, to $20.84. H-P declined 60 cents, or 2.6 percent, to $22.32. And IBM declined $2.80, or 1.3 percent, to $212.26. 

Outside of technology, here are some stocks that made big moves: 

”” Struggling drug company AstraZeneca jumped after saying it would cut 2,300 more jobs worldwide and overhaul its research operations. That brings to 11,000 the number of job cuts announced in the past 13 months. Shares rose $1.77, or 3.8 percent, to $47.95. 

”” Publisher Scholastic Corp. plunged after shrinking demand for its best-selling "The Hunger Games" books forced it to cut its guidance for the year. The company's fiscal third-quarter loss nearly doubled. Shares fell $4.32, or 13.9 percent, to $26.75. 

”” Movado Group Inc. dropped after the luxury watchmaker said its fiscal fourth-quarter net income fell 26 percent. The stock dropped $3.89, or 10.5 percent, to $33.23.


----------



## bigdog

Source: http://finance.yahoo.com 

Strong company earnings boosted stocks on Wall Street Friday. Investors also saw a chance to add to their holdings after declines earlier in the week. 

Nike reported a surge in profit, sending its stock price to a record. Tiffany topped earnings predictions, boosted by demand from customers in Asia. 

A strong run-up in stocks this year is encouraging investors to buy whenever the market dips, says Ron Florance, managing director of investment strategy at Wells Fargo Private Bank. 

"We still have an astonishing amount of money sitting on the sidelines," says Florance. 

The Dow Jones industrial average rose 90.54 points, or 0.6 percent, to 14,512.03 Friday. The Standard & Poor's 500 index rose 11.09 points, or 0.7 percent, to 1,556.89. The Nasdaq composite gained 22.40 points, or 0.7 percent, to 3,245. 

Nike's stock hit an all-time high, rising 11 percent to $59.53 after the company reported a spike in quarterly profit. Tiffany's stock rose nearly 2 percent to $69.23 after it reported strong earnings. 

Despite Friday's gains, the S&P 500 was down for the week, falling seven points, or 0.3 percent. The index was weighed down by another debt crisis in Europe and disappointing corporate news. 

The Dow had its worst week in more than a month, shedding a fraction of a percentage point. 

The markets got hit on several fronts. 

The Mediterranean island nation of Cyprus, a banking haven, struggled to devise a plan to avoid financial collapse. 

Oracle reported weak sales. FedEx, a bellwether for the economy, posted a drop in quarterly profit and cut its annual earnings forecast. 

As a result, the S&P 500 logged only its second weekly decline of the year. The first came the week of Feb. 22, when investors were spooked by the minutes from a Federal Reserve policy meeting. The minutes revealed disagreement over how long to keep buying bonds in an effort to boost the economy. 

A pause in the stock market run-up is due, says Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. Gains this year overstate the improvement in the economy, he says. 

The biggest risk to the market run-up will come when the Fed faces increasing pressure to end its stimulus program. That could happened if the economy continues to improve and stock markets rise, says Sandven. 

 *The NYSE DOW closed  	HIGHER ▲	90.54	points or ▲	0.63%	Friday, 22 March 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,512.03	▲	90.54	▲	0.63%	
	Nasdaq____	3,245.00	▲	22.40	▲	0.70%	
	S&P_500____	1,556.89	▲	11.09	▲	0.72%	
	30_Yr_Bond____	3.135	▼	-0.02	▼	-0.63%	

NYSE Volume	 3,231,826,250 			 		 	
Nasdaq Volume	 1,708,620,750 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,392.76	▲	4.21	▲	0.07%	
	DAX_____	7,911.35	▼	-21.16	▼	-0.27%	
	CAC_40__	3,770.29	▼	-4.56	▼	-0.12%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,980.80	▲	4.00	▲	0.08%	
	Shanghai_Comp	2,328.28	▲	4.04	▲	0.17%	
	Taiwan_Weight	7,796.22	▼	-15.62	▼	-0.20%	
	Nikkei_225____	12,338.53	▼	-297.16	▼	-2.35%	
	Hang_Seng____	22,115.30	▲	53.93	▼	-0.50%	
	Strait_Times___	3,258.57	▼	-9.08	▼	-0.28%	
	NZX_50_Index__	4,342.89	▲	0.38	▲	0.01%	

http://finance.yahoo.com/news/stocks-rise-wall-street-aided-140542888.html

*Stocks rise on Wall Street aided by earnings

Stocks rise on higher earnings; investors jump into market after earlier declines*

By Steve Rothwell, Markets Writer

Strong company earnings boosted stocks on Wall Street Friday. Investors also saw a chance to add to their holdings after declines earlier in the week. 

Nike reported a surge in profit, sending its stock price to a record. Tiffany topped earnings predictions, boosted by demand from customers in Asia. 

A strong run-up in stocks this year is encouraging investors to buy whenever the market dips, says Ron Florance, managing director of investment strategy at Wells Fargo Private Bank. 

"We still have an astonishing amount of money sitting on the sidelines," says Florance. 

The Dow Jones industrial average rose 90.54 points, or 0.6 percent, to 14,512.03 Friday. The Standard & Poor's 500 index rose 11.09 points, or 0.7 percent, to 1,556.89. The Nasdaq composite gained 22.40 points, or 0.7 percent, to 3,245. 

Nike's stock hit an all-time high, rising 11 percent to $59.53 after the company reported a spike in quarterly profit. Tiffany's stock rose nearly 2 percent to $69.23 after it reported strong earnings. 

Despite Friday's gains, the S&P 500 was down for the week, falling seven points, or 0.3 percent. The index was weighed down by another debt crisis in Europe and disappointing corporate news. 

The Dow had its worst week in more than a month, shedding a fraction of a percentage point. 

The markets got hit on several fronts. 

The Mediterranean island nation of Cyprus, a banking haven, struggled to devise a plan to avoid financial collapse. 

Oracle reported weak sales. FedEx, a bellwether for the economy, posted a drop in quarterly profit and cut its annual earnings forecast. 

As a result, the S&P 500 logged only its second weekly decline of the year. The first came the week of Feb. 22, when investors were spooked by the minutes from a Federal Reserve policy meeting. The minutes revealed disagreement over how long to keep buying bonds in an effort to boost the economy. 

A pause in the stock market run-up is due, says Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. Gains this year overstate the improvement in the economy, he says. 

The biggest risk to the market run-up will come when the Fed faces increasing pressure to end its stimulus program. That could happened if the economy continues to improve and stock markets rise, says Sandven. 

The yield on the 10-year Treasury note rose to 1.93 percent from 1.92 percent. 

Among other stocks making big moves Friday; 

”” Micron Technology rose 97 cents, or 10.7 percent, to $10.05 despite reporting a loss in its fiscal second-quarter later Thursday. The chipmaker said that revenue grew 3 percent, to $2.08 billion, better than analysts had expected. 

”” Anacor Pharmaceuticals Inc. climbed $1.24, or 25.6 percent, to $6.08 Friday, after the drug developer reported strong data from a mid-stage study of a potential chronic rash treatment. 

”” Marin Software, a marketing software company, rose $2.26, or 16.1 percent, to $16.26 on its market debut. The San Francisco-based company raised $105 million in its initial public offering. 

”” AK Steel Holding fell 16 cents, or 4.6 percent, to $3.31, after projecting a larger-than-expected first-quarter loss because a previously expected seasonal increase in demand for steel hasn't materialized.

8625


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks reversed an early rise on Wall Street Monday as traders returned to worrying about the European economy. 

Optimism about a deal to prevent financial collapse in Cyprus had briefly pushed the Standard & Poor's 500 index to within a quarter-point of its record closing high, but stocks soon turned negative. 

The S&P 500 and Nasdaq composite index both closed down 0.3 percent. The Dow Jones industrial average slipped 0.4 percent. 

Stocks turned negative about an hour into the trading day Monday as the initial euphoria about Cyprus' deal to secure 10 billion euros in emergency funding was overshadowed by renewed concerns about the European economy. 

The fear intensified after a top European official indicated that investors in struggling banks may be forced to take losses ”” an element of the Cyprus agreement that had previously been seen as unique to that country. 

All ten industry groups in the S&P 500 closed lower, with industrial and materials companies posting the biggest losses. Network technology company VMware Inc. dove after the website Business Insider reported that PayPal and eBay will remove its software from 80,000 servers. The stock fell $3.65, or 4.6 percent, to $76.50. 

Among the biggest drags on the S&P 500 index were software maker Red Hat Inc., online marketplace eBay Inc. and Textron Inc., an aerospace and defense contractor. 

Europe still needs a long-term economic fix, said David Kelly, chief global strategist at J.P. Morgan Funds. Business activity in the 17 nations using the euro has declined continually since September 2011, according to research by Markit, a data provider. The region's economy shrank 0.6 percent in 2012, according official government statistics. 

Business activity in nations that use the euro contracted more quickly in March, according to Markit's closely-watched survey of purchasing executives, which was published Thursday. The index had its worst decline in four months. 

European policy makers have avoided a financial crisis by flooding the market with cash, but they haven't addressed economic hardship on the ground, Kelly said. In granting Cyprus' emergency rescue, for example, lenders demanded economic reforms, debt payments and a banking overhaul that will result in heavy losses for bank bondholders and shareholders. In addition, people with more than 100,000 euros in their accounts will lose up to 40 percent of their deposits. 

Kelly said that's tough to swallow for people facing high unemployment and government cutbacks in Greece, Italy, Spain and other countries that received bailouts. 

 *The NYSE DOW closed  	LOWER ▼	-64.28	points or ▼	-0.44%	Monday, 25 March 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,447.75	▼	-64.28	▼	-0.44%	
	Nasdaq____	3,235.30	▼	-9.70	▼	-0.30%	
	S&P_500____	1,551.69	▼	-5.20	▼	-0.33%	
	30_Yr_Bond____	3.139	▲	0.00	▲	0.13%	

NYSE Volume	 3,563,958,500 			 		 	
Nasdaq Volume	 1,668,031,000 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,378.38	▼	-14.38	▼	-0.22%	
	DAX_____	7,870.90	▼	-40.45	▼	-0.51%	
	CAC_40__	3,727.98	▼	-42.31	▼	-1.12%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,001.50	▲	20.70	▲	0.42%	
	Shanghai_Comp	2,326.71	▼	-1.56	▼	-0.07%	
	Taiwan_Weight	7,856.12	▲	59.90	▲	0.77%	
	Nikkei_225____	12,546.46	▲	207.93	▲	1.69%	
	Hang_Seng____	22,251.15	▲	53.93	▲	0.61%	
	Strait_Times___	3,267.48	▲	8.91	▲	0.27%	
	NZX_50_Index__	4,340.73	▼	-2.16	▼	-0.05%	

http://finance.yahoo.com/news/us-stocks-fall-broad-concern-173923634.html

*US stocks fall on broad concern about Europe

US stocks scuttle global rally as attention shifts from Cyprus to broader concern about Europe*

By Daniel Wagner, AP Business Writer 

Stocks reversed an early rise on Wall Street Monday as traders returned to worrying about the European economy. 

Optimism about a deal to prevent financial collapse in Cyprus had briefly pushed the Standard & Poor's 500 index to within a quarter-point of its record closing high, but stocks soon turned negative. 

The S&P 500 and Nasdaq composite index both closed down 0.3 percent. The Dow Jones industrial average slipped 0.4 percent. 

Stocks turned negative about an hour into the trading day Monday as the initial euphoria about Cyprus' deal to secure 10 billion euros in emergency funding was overshadowed by renewed concerns about the European economy. 

The fear intensified after a top European official indicated that investors in struggling banks may be forced to take losses ”” an element of the Cyprus agreement that had previously been seen as unique to that country. 

All ten industry groups in the S&P 500 closed lower, with industrial and materials companies posting the biggest losses. Network technology company VMware Inc. dove after the website Business Insider reported that PayPal and eBay will remove its software from 80,000 servers. The stock fell $3.65, or 4.6 percent, to $76.50. 

Among the biggest drags on the S&P 500 index were software maker Red Hat Inc., online marketplace eBay Inc. and Textron Inc., an aerospace and defense contractor. 

Europe still needs a long-term economic fix, said David Kelly, chief global strategist at J.P. Morgan Funds. Business activity in the 17 nations using the euro has declined continually since September 2011, according to research by Markit, a data provider. The region's economy shrank 0.6 percent in 2012, according official government statistics. 

Business activity in nations that use the euro contracted more quickly in March, according to Markit's closely-watched survey of purchasing executives, which was published Thursday. The index had its worst decline in four months. 

European policy makers have avoided a financial crisis by flooding the market with cash, but they haven't addressed economic hardship on the ground, Kelly said. In granting Cyprus' emergency rescue, for example, lenders demanded economic reforms, debt payments and a banking overhaul that will result in heavy losses for bank bondholders and shareholders. In addition, people with more than 100,000 euros in their accounts will lose up to 40 percent of their deposits. 

Kelly said that's tough to swallow for people facing high unemployment and government cutbacks in Greece, Italy, Spain and other countries that received bailouts. 

"If they're going to end up broke anyway," Kelly said, it will be "harder and harder for people to make the sacrifices that Europe is demanding of them." That could lead voters in bailed-out countries to resist lenders' terms, increasing political and economic instability in Europe and weighing on global markets, he said. 

That concern intensified Monday after a key official indicated that the Cyprus rescue may serve as a model in other nations with struggling banks. 

"If the bank can't do it, then we'll talk to the shareholders and the bondholders, we'll ask them to contribute in recapitalizing the bank, and if necessary the uninsured deposit holders," said Jeroen Dijsselbloem, who chairs meetings of finance ministers from nations that use the euro, in an interview with the Financial Times and Reuters. Dijsselbloem's office confirmed the remarks. 

Wall Street had opened higher, following gains in Europe and Asia. Traders were relieved that international lenders agreed early Monday to release emergency rescue funds for Cyprus. The European Central Bank will continue to support the nation's foundering banks. In exchange, Cyprus will take major steps to shrink its troubled banking industry and cut its budget. 

At first, the deal to save Cyprus' banks erased the latest source of anxiety for investors, who have traded for more than three years under the cloud of a debt crisis in Europe. The fear is that a heavily indebted country will default on its financial obligations and be forced to exit the shared currency. That could cause the region to unravel, deepening the recession there and roiling international financial markets. 

Concern about Cyprus last week pushed U.S. stock indexes to only their second weekly loss this year. Investors watched closely as the small, Mediterranean island scrambled to satisfy its lenders and prevent its banks from collapsing. 

Traders expect more turbulence from Europe before the crisis has been resolved, said Anthony Conroy, head trader at ConvergEx Group, which provides technology to support big traders like investment advisers and hedge funds. Given the uncertainty, it's not surprising that stocks would veer between positive and negative, he said. 

"When you have concern, you have volatility, and you're seeing volatility in here," Conroy said. 

European stocks were up when Wall Street opened Monday, but turned lower shortly after Wall Street's gains evaporated. France's CAC-40 closed down 1.1 percent, London's FTSE 100 fell 0.2 percent and Germany's DAX lost 0.5 percent. 

Earlier, Asian stocks closed mostly higher on optimism about the Cyprus deal. 

The S&P 500 closed down five points at 1,551.69. The loss was offset in part by big jumps for Apollo Group Inc. and McGraw-Hill Cos. Computer maker Dell Inc. also supported the index as a bidding war broke out among investors who want to take the company private. 

The Dow fell 64 points to 14,447.75. The Nasdaq dropped nine to 3,235.30. 

As the final week of trading this quarter kicks off, the indexes are holding onto most of the gains built during the long rally earlier this month. The Dow is up 10 percent, the S&P 500 nearly nine percent. 

Conroy expects stocks to maintain their recent gains as short-term dips draw more traders into the market. Kelly agreed, noting that stocks typically decline in the last week of a strong quarter, as investors seek to lock in their gains. 

Among the companies making big moves: 

”” Apollo Group soared after the for-profit education company said its quarterly net income exceeded Wall Street's expectations. The stock rose $1.21, or 7.1 percent, to $18.25. 

”” Dollar General's quarterly net income rose as the operator of discount stores attracted more customers and sold more goods. The stock rose $1.01, or 2 percent, to $51.08. 

”” Dell rose 37 cents, or 2.6 percent, to $14.51. The company received competing bids from activist investor Carl Icahn, who offered $15 per share for a majority stake; and buyout firm Blackstone Group, which proposed a deal worth $14.25 per share. Founder Michael Dell had been in talks to take the company private for about $13.65 per share. 

”” McGraw-Hill Cos. rose strongly after it said it will resume an accelerated share buyback program capped at $500 million. The media company will use cash generated by the recent sale of its education business. Its stock rose $1.66, or 3.4 percent, to $50.03.


----------



## bigdog

Source: http://finance.yahoo.com 

The Standard & Poor's 500 index closed within a short reach of its all-time high on Tuesday. Rising home prices and orders for manufactured goods drove stocks up from the opening bell. 

The S&P 500 index rose 12.08 points, or 0.8 percent, to close at 1,563.77. That's less than two points from the peak it reached on Oct. 9, 2007, before a recession and ensuing financial crisis battered markets. 

The Dow Jones industrial average rose 111.90 points, also 0.8 percent, to 14,559.65. 

"Unless something major comes along to derail this rally, it just seems like the market is going to keep climbing higher," said Marty LeClerc, the managing partner of Barrack Yard Advisors, an investment firm in Bryn Mawr, Pa. 

Factory orders surged in February, helped by stronger demand for commercial aircraft. Overall orders for durable goods, a catchall term for products ranging from refrigerators to jumbo jets, jumped 5.7 percent from the previous month, the Commerce Department said Tuesday. It was the biggest increase in five months. 

The stock market's gains were widely shared. All 10 industry groups in the S&P 500 rose, with health care and energy companies leading the way. 

Smaller companies, which have been beating the market all year, didn't do as well Tuesday. The Nasdaq composite rose 17.18 points, or 0.5 percent, to 3,252.48, and the Russell 2000 rose 3.97 points, or 0.4 percent, to 949.82. That's roughly half of the S&P 500's gain. 

Big company stocks and small-company stocks often part ways, said Jack Ablin, chief investment officer at BMO Private Bank in Chicago. Big corporations generally have stronger ties to Europe, and their stocks wavered over the past week as traders kept an eye on negotiations to rescue Cyprus. 

By contrast, smaller companies are less exposed to the rest of the world. "That's part of the reason small-caps have outpaced the market this year," Ablin said. 

The S&P 500, used by investors as a proxy for the overall market, is up 9.7 percent so far this year. The Russell 2000 has fared better, rising 11.8 percent. 

European markets rose modestly as investors gained confidence in the new bailout plan arranged for Cyprus and its banking system. The island country decided to keep its banks closed for another two days in an attempt to ward off panicked withdrawals.

 *The NYSE DOW closed  	HIGHER ▲	111.90	points or ▲	0.77%	Tuesday, 26 March 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,559.65	▲	111.90	▲	0.77%	
	Nasdaq____	3,252.48	▲	0.00	▲	0.00%	
	S&P_500____	1,563.77	▲	12.08	▲	0.78%	
	30_Yr_Bond____	3.131	▼	-0.01	▼	-0.25%	

NYSE Volume	 3,148,923,750 			 		 	
Nasdaq Volume	 1,446,123,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,399.37	▲	20.99	▲	0.33%	
	DAX_____	7,879.67	▲	8.77	▲	0.11%	
	CAC_40__	3,748.64	▲	20.66	▲	0.55%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,964.70	▼	-36.80	▼	-0.74%	
	Shanghai_Comp	2,297.67	▼	-29.05	▼	-1.25%	
	Taiwan_Weight	7,856.36	▲	0.24	▲	0.00%	
	Nikkei_225____	12,471.62	▼	-74.84	▼	-0.60%	
	Hang_Seng____	22,311.08	▲	53.93	▲	0.27%	
	Strait_Times___	3,288.53	▲	21.05	▲	0.64%	
	NZX_50_Index__	4,346.03	▲	5.29	▲	0.12%	

http://finance.yahoo.com/news/p-nea...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*S&P nears record as home price surge lifts stocks

S&P 500 closes just shy of an all-time high as orders for manufactured goods, home prices rise*

By Matthew Craft, AP Business Writer

The Standard & Poor's 500 index closed within a short reach of its all-time high on Tuesday. Rising home prices and orders for manufactured goods drove stocks up from the opening bell. 

The S&P 500 index rose 12.08 points, or 0.8 percent, to close at 1,563.77. That's less than two points from the peak it reached on Oct. 9, 2007, before a recession and ensuing financial crisis battered markets. 

The Dow Jones industrial average rose 111.90 points, also 0.8 percent, to 14,559.65. 

"Unless something major comes along to derail this rally, it just seems like the market is going to keep climbing higher," said Marty LeClerc, the managing partner of Barrack Yard Advisors, an investment firm in Bryn Mawr, Pa. 

Factory orders surged in February, helped by stronger demand for commercial aircraft. Overall orders for durable goods, a catchall term for products ranging from refrigerators to jumbo jets, jumped 5.7 percent from the previous month, the Commerce Department said Tuesday. It was the biggest increase in five months. 

The stock market's gains were widely shared. All 10 industry groups in the S&P 500 rose, with health care and energy companies leading the way. 

Smaller companies, which have been beating the market all year, didn't do as well Tuesday. The Nasdaq composite rose 17.18 points, or 0.5 percent, to 3,252.48, and the Russell 2000 rose 3.97 points, or 0.4 percent, to 949.82. That's roughly half of the S&P 500's gain. 

Big company stocks and small-company stocks often part ways, said Jack Ablin, chief investment officer at BMO Private Bank in Chicago. Big corporations generally have stronger ties to Europe, and their stocks wavered over the past week as traders kept an eye on negotiations to rescue Cyprus. 

By contrast, smaller companies are less exposed to the rest of the world. "That's part of the reason small-caps have outpaced the market this year," Ablin said. 

The S&P 500, used by investors as a proxy for the overall market, is up 9.7 percent so far this year. The Russell 2000 has fared better, rising 11.8 percent. 

European markets rose modestly as investors gained confidence in the new bailout plan arranged for Cyprus and its banking system. The island country decided to keep its banks closed for another two days in an attempt to ward off panicked withdrawals. 

Netflix surged 5 percent, leading the S&P 500, after an analyst at Pacific Crest Securities said the stock will likely climb as the company adds subscribers. Netflix's database of its members' viewing habits should give it an edge in creating new shows and draw more people to sign up for the video-streaming service, the analyst said. Netflix rose $9.82 to $190.61. 

Housing prices rose in January at the fastest pace since the summer of 2006, before the housing bubble popped. The Standard & Poor's/Case-Shiller 20-city price index climbed 8.1 percent in the 12 months to January. That compares with a 6.8 percent increase the previous month. Prices rose in all 20 cities, led by Phoenix. 

The economic reports out Tuesday added to evidence that the economy is slowly improving, and that's exactly what many investors want right now, LeClerc said. Slow growth means it will take a while before the Federal Reserve starts unraveling its bond-buying program and raising interest rates. 

In the market for U.S. government bonds, the yield on the 10-year U.S. Treasury note slipped to 1.91 percent from 1.92 percent late Monday. 

Among stocks making big moves: 

”” Drive-in restaurant chain Sonic jumped 10 percent after reporting that its quarterly earnings more than doubled. Sales were flat but Sonic said its expects them to improve in the year ahead. Its stock rose $1.14 to $12.87. 

”” Supervalu rose after announcing plans to lay off more than 1,000 people, roughly 3 percent of its workforce. The supermarket operator said its recent sale of five grocery chains means it needs fewer workers. Supervalu's stock gained 7 cents, or 1.4 percent, to $5.12. 

”” Children's Place Retail Stores sank 3 percent after the company reported weaker quarterly earnings. The retailer also said bad weather would crimp its sales. The company's stock lost $1.48 to $44.51.


----------



## bigdog

Source: http://finance.yahoo.com 

Investors just can't get past Europe. 

Renewed worries about the region's long-running debt crisis weighed on the Dow Jones industrial average on Wednesday, and held the Standard & Poor's 500 index back from reaching an all-time high. 

Investors are watching to see if Cyprus can shore up its banking system. They are also keeping an eye on Italy, where political parties are struggling to form a new government in the eurozone's third-largest economy. 

The Dow fell 33.49 points to close at 14,526.16, a loss of 0.2 percent. It dropped as many as 120 points in morning trading then spent the rest of the day climbing back. 

The Standard & Poor's 500 index slipped 0.92 to 1,562.85, less than three points short of its all-time high set in October 2007. 

Bad news out of Europe and good news from the U.S. have tossed the stock market around over the past week. 

"There are still plenty of worries about (Europe's) banking system," said J.J. Kinahan, chief derivatives strategist at TD Ameritrade. "But the U.S. really is on a nice little roll." 

As stocks slumped early Wednesday, Kinahan said he thought the S&P 500 would recover its losses and could make another run at its record high on Thursday. 

Cyprus is working out how to reopen its banks on Thursday after a nearly two-week shutdown. An international bailout calls for money from large depositors to help pay for the rescue of its banking system. 

In Italy, a center-left party failed in its attempt to form a new government. The political stalemate has raised fears that the country will be unable to manage its deep debts, undermining confidence in the euro. 

Those worries hit Europe's bond markets especially hard. Borrowing rates for Italy and Spain shot higher, a sign of weaker confidence in their financial health. Rates for Germany and France, two of Europe's more stable countries, sank as traders shifted money into their bonds. 

In other trading, the Nasdaq composite inched up 4.04 points, or 0.1 percent, to 3,256.52. 

Four of the 10 industry groups in the S&P 500 index edged higher. Utilities and health care, which investors tend to buy when they want to play it safe, made the biggest gains. 

 *The NYSE DOW closed  	LOWER ▼	-33.49	points or ▼	-0.23%	Wednesday, 27 March 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,526.16	▼	-33.49	▼	-0.23%	
	Nasdaq____	3,256.52	▲	4.04	▲	0.12%	
	S&P_500____	1,562.85	▼	-0.92	▼	-0.06%	
	30_Yr_Bond____	3.090	▼	-0.04	▼	-1.25%	

NYSE Volume	 3,180,161,000 			 		 	
Nasdaq Volume	 1,421,538,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,387.56	▼	-11.81	▼	-0.18%	
	DAX_____	7,789.09	▼	-90.58	▼	-1.15%	
	CAC_40__	3,711.64	▼	-37.00	▼	-0.99%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,007.00	▲	42.30	▲	0.85%	
	Shanghai_Comp	2,301.26	▼	-25.46	▼	-1.09%	
	Taiwan_Weight	7,894.12	▲	37.76	▲	0.48%	
	Nikkei_225____	12,493.79	▲	22.17	▲	0.18%	
	Hang_Seng____	22,464.82	▲	53.93	▲	0.69%	
	Strait_Times___	3,313.03	▲	24.50	▲	0.75%	
	NZX_50_Index__	4,412.06	▲	66.03	▲	1.52%	

http://finance.yahoo.com/news/investors-struggle-past-europes-woes-205806943.html

*Investors struggle to get past Europe's woes

Stocks slip on Wall Street as concerns over Cyprus and Italy resurface*

By Matthew Craft, AP Business Writer 

Investors just can't get past Europe. 

Renewed worries about the region's long-running debt crisis weighed on the Dow Jones industrial average on Wednesday, and held the Standard & Poor's 500 index back from reaching an all-time high. 

Investors are watching to see if Cyprus can shore up its banking system. They are also keeping an eye on Italy, where political parties are struggling to form a new government in the eurozone's third-largest economy. 

The Dow fell 33.49 points to close at 14,526.16, a loss of 0.2 percent. It dropped as many as 120 points in morning trading then spent the rest of the day climbing back. 

The Standard & Poor's 500 index slipped 0.92 to 1,562.85, less than three points short of its all-time high set in October 2007. 

Bad news out of Europe and good news from the U.S. have tossed the stock market around over the past week. 

"There are still plenty of worries about (Europe's) banking system," said J.J. Kinahan, chief derivatives strategist at TD Ameritrade. "But the U.S. really is on a nice little roll." 

As stocks slumped early Wednesday, Kinahan said he thought the S&P 500 would recover its losses and could make another run at its record high on Thursday. 

Cyprus is working out how to reopen its banks on Thursday after a nearly two-week shutdown. An international bailout calls for money from large depositors to help pay for the rescue of its banking system. 

In Italy, a center-left party failed in its attempt to form a new government. The political stalemate has raised fears that the country will be unable to manage its deep debts, undermining confidence in the euro. 

Those worries hit Europe's bond markets especially hard. Borrowing rates for Italy and Spain shot higher, a sign of weaker confidence in their financial health. Rates for Germany and France, two of Europe's more stable countries, sank as traders shifted money into their bonds. 

In other trading, the Nasdaq composite inched up 4.04 points, or 0.1 percent, to 3,256.52. 

Four of the 10 industry groups in the S&P 500 index edged higher. Utilities and health care, which investors tend to buy when they want to play it safe, made the biggest gains. 

Kim Forrest, a senior equity analyst at Fort Pitt Capital, said it appears that many investors are treating certain stocks as if they were bonds. 

"There's a recognition that bonds are overpriced, so people are moving into healthcare and utilities that pay a nice dividend," she said. "Those are pretty boring investments, and by that I mean their prices don't move a lot." 

News about Italy also helped drive traders into the safety of U.S. government bonds, pushing benchmark yields to their lowest level this month. The yield on the 10-year Treasury note dropped to 1.84 percent, a steep fall from 1.91 percent late Tuesday. 

The S&P 500 closed within three points of its record high of 1,565.15, helped by rising U.S. home prices and orders for manufactured goods. The stock index hit that peak on Oct. 9, 2007, before the Great Recession and a financial crisis roiled financial markets. 

Among other stocks making big moves: 

”” Cliffs Natural Resources, an iron ore mining company, plunged 14 percent, the biggest loss in the S&P 500. Analysts warned that falling iron ore prices would likely sink the company's stock. Cliffs fell $2.97 to $18.46. 

”” Science Applications International Corp. surged 5 percent after the security and communications technology provider reported a fourth-quarter profit that was better than analysts were expecting. SAIC also announced a special dividend of $1 per share, and its stock gained 50 cents to $13.32.


----------



## antares

*Morning business round-up: Cyprus banks reopen**S.&P. 500 Breaks Through 2007 Closing High*
The Standard & Poor’s 500-stock index rose above its previous closing high, set in October 2007, in morning trading on Thursday.

The benchmark index was recently trading over 1,565.15 points, up 0.2 percent, despite a report of rising claims for unemployment benefits.

The blue-chip Dow Jones industrial average, which was up 0.3 percent Thursday in afternoon trading, already passed its 2007 milestone earlier this month, but the S.&P. 500 is widely considered to be a broader-based reflection of the American stock market. The Nasdaq composite index of largely technology stocks added 0.1 percent Thursday.

The benchmark index has repeatedly come close to reaching its own record level in recent days, but has pulled back each time as investors grappled with concerns about the banking crisis in Cyprus. European stock markets rose on Thursday after Cypriot banks opened for the first time in two weeks with less turmoil than expected.

The new high caps a four-year run for the S.&P. 500 that began in 2009 after the near collapse of the American financial system. The index rose to a high on Oct. 9, 2007, but then fell 57 percent to hit an ominous intraday low of 666.67 on March 6, 2009, and a closing low of 676.53 three days later.

The surge in the S.&P. 500 this year still puts the index only slightly above where it was back in the heady days of 2000, when technology stocks were leading the market higher. Factoring in inflation, the S.&P. 500 is still well below the highs reached in 2000 and 2007. The index is also still below the intraday record level of 1,576.09 hit on Oct. 11, 2007.

The current rally has been fed by bond-buying programs begun by the Federal Reserve, which helped nourish a recovery in corporate profits.

The gains have not generally been enjoyed by Americans without stock portfolios, leading to widespread skepticism about the sustainability of the market’s rise. But more recently there have been signs that the economic recovery may be broadening out into the rest of the economy.

The Commerce Department said Thursday that the economy grew at a 0.4 percent annual rate in the fourth quarter of 2012, which was faster than the 0.1 percent that the government previously estimated. The number of people filing for unemployment benefits rose 16,000 last week, more than predicted, but longer-term numbers have pointed to a recovery in the labor market. The overall unemployment rate dropped to its lowest level in four years in February.

The market gains on Thursday were relatively broad based, with 333 stocks in the S.&P. 500 rising.
You can see online data at Vault options


----------



## bigdog

Source: http://finance.yahoo.com 

For the second time in less than a month, the stock market marched past another milepost on its long, turbulent journey back from the Great Recession, toppling another record left over from the days before government bailouts and failing investment banks. 

The Standard & Poor's 500 closed at a new high Thursday, three weeks after another popular market gauge, the Dow Jones industrial average, obliterated its own closing record. The S&P capped its best quarter in a year, rising 10 percent. The Dow had its best first quarter in 15 years, climbing 11 percent. 

The reaction on Wall Street was muted ”” more of a dull buzz than a victory cry. Investors warned clients not to get overly excited. 

"Getting back to where we were is an important step," said Howard Silverblatt, senior index analyst at S&P Dow Jones Indices. But he cautioned in a note to investors: "Markets are volatile, and if you are a long-term investor you should expect declines." 

The S&P 500 rose 6.34 points, or 0.41 percent, to 1,569.19, beating by four points its previous record of 1,565.15 set on Oct. 9, 2007. The index is still shy of its all-time trading high of 1,576.09. 

The index has now recovered all of its losses from the recession and the financial crisis that followed. Investors who put their dividends back into the market have done even better. A $10,000 investment in the S&P back in October 2007 would be worth $11,270. 

The S&P 500 is a barometer that gauges market performance. And while professional investors might scoff at using it to decide when to buy and sell, the breaking of an old record can be psychologically important. 

The Dow climbed for the first 10 trading days of March ”” a record not matched in more than 16 years. In the past 10 days, though, it has wavered under the weight of Cyprus. 

The Dow rose 11 percent in the first three months of the year, its best quarterly performance since the fourth quarter of 2011. Last year, it lost ground in two quarters and was up by smaller amounts ”” 4 percent and 8 percent ”” in the other two. On March 5, it beat its own all-time record of 14,164.53, which was also set on Oct. 9, 2007, and has been climbing ever since.  

 *The NYSE DOW closed  	HIGHER ▲	52.38	points or ▲	0.36%	Thursday, 28 March 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,578.54	▲	52.38	▲	0.36%	
	Nasdaq____	3,267.52	▲	11.00	▲	0.34%	
	S&P_500____	1,569.19	▲	6.34	▲	0.41%	
	30_Yr_Bond____	3.100	▲	0.01	▲	0.39%	

NYSE Volume	 3,550,260,750 			 		 	
Nasdaq Volume	 1,656,492,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,411.74	▲	24.18	▲	0.38%	
	DAX_____	7,795.31	▲	6.22	▲	0.08%	
	CAC_40__	3,731.42	▲	19.78	▲	0.53%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,979.90	▼	-27.10	▼	-0.54%	
	Shanghai_Comp	2,236.30	▼	-64.96	▼	-2.82%	
	Taiwan_Weight	7,866.88	▼	-27.24	▼	-0.35%	
	Nikkei_225____	12,335.96	▼	-157.83	▼	-1.26%	
	Hang_Seng____	22,299.63	▲	53.93	▼	-0.74%	
	Strait_Times___	3,308.10	▼	-4.93	▼	-0.15%	
	NZX_50_Index__	4,422.75	▲	10.69	▲	0.24%	

http://finance.yahoo.com/news/p-500-closes-record-high-200946613.html

*S&P 500 closes at a record high, beating '07 mark

Standard & Poor's 500 index closes at a record high, beating October 2007 mark*

By Christina Rexrode, AP Business Writer

For the second time in less than a month, the stock market marched past another milepost on its long, turbulent journey back from the Great Recession, toppling another record left over from the days before government bailouts and failing investment banks. 

The Standard & Poor's 500 closed at a new high Thursday, three weeks after another popular market gauge, the Dow Jones industrial average, obliterated its own closing record. The S&P capped its best quarter in a year, rising 10 percent. The Dow had its best first quarter in 15 years, climbing 11 percent. 

The reaction on Wall Street was muted ”” more of a dull buzz than a victory cry. Investors warned clients not to get overly excited. 

"Getting back to where we were is an important step," said Howard Silverblatt, senior index analyst at S&P Dow Jones Indices. But he cautioned in a note to investors: "Markets are volatile, and if you are a long-term investor you should expect declines." 

The S&P 500 rose 6.34 points, or 0.41 percent, to 1,569.19, beating by four points its previous record of 1,565.15 set on Oct. 9, 2007. The index is still shy of its all-time trading high of 1,576.09. 

The index has now recovered all of its losses from the recession and the financial crisis that followed. Investors who put their dividends back into the market have done even better. A $10,000 investment in the S&P back in October 2007 would be worth $11,270. 

On any other day, a gain of that size would go unheralded, but not after the turmoil that began in late 2008 and persisted through a slow, sometimes stalled recovery. The milestone generated chatter at water coolers and on business news channels. 

The S&P 500 is a barometer that gauges market performance. And while professional investors might scoff at using it to decide when to buy and sell, the breaking of an old record can be psychologically important. 

When the S&P 500 last closed this high, it was a headier time. In the fall of 2007, the financial crisis was simmering but hadn't yet boiled over. It was an era before big bailouts and the Great Recession, back when jobs were much easier to come by and salaries seemed to go only up. Bear Stearns still existed. So did Lehman Brothers and Washington Mutual. 

Investors have reason to be cautious. 

The U.S. economy is stable, but growth is anemic. The European debt crisis is far from resolved. Some investors are concerned that the market's gains this year are being fueled by the Federal Reserve's easy money policy, and will disappear once the Fed reverses course. 

The crisis-of-the-moment is Cyprus, the Mediterranean island country that struggled this week to get an emergency bailout from other countries. For many investors, the bailout deal was a reminder of Europe's lingering economic problems. 


The Dow climbed for the first 10 trading days of March ”” a record not matched in more than 16 years. In the past 10 days, though, it has wavered under the weight of Cyprus. 

The Dow rose 11 percent in the first three months of the year, its best quarterly performance since the fourth quarter of 2011. Last year, it lost ground in two quarters and was up by smaller amounts ”” 4 percent and 8 percent ”” in the other two. On March 5, it beat its own all-time record of 14,164.53, which was also set on Oct. 9, 2007, and has been climbing ever since.

8866


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market got off to a slow start in April, edging lower after the Standard and Poor's 500 index eclipsed its all-time high last week. 

The main catalyst was a slowdown in U.S. manufacturing growth last month. The decline in the Institute for Supply Management's benchmark manufacturing index for March was worse than economists had forecast. Stocks started falling shortly after the report came out at 10 a.m. and stayed lower the rest of the day. 

The Dow Jones industrial average closed 5.69 points, or 0.04 percent, lower at 14,572.85. The Standard & Poor's 500 index dropped 7.02 points, or 0.5 percent, to 1,562.17. 

Industrial companies fell 1 percent, the most in the S&P. 3M, which makes Post-it notes, industrial products and construction materials, fell 66 cents, or 0.6 percent, to $105.65. Caterpillar, a maker of construction and mining equipment, dropped $1.33, or 1.5 percent, to $85.64. 

Investors have raised their expectations for the U.S. economy as the market has climbed this year, said JJ Kinahan, chief derivatives strategist at TD Ameritrade. The Dow is up 11.2 percent in 2013, the S&P 9.5 percent. 

"The numbers have to be outstanding in order to drive the market higher," Kinahan said. "It's a different mindset when we're at these levels." 

The S&P 500 closed the first quarter at an all-time high of 1,569.19, surpassing its previous record close of 1,565.15 set on Oct. 9, 2007. The index has recaptured all of its losses from the financial crisis and the Great Recession. The Dow broke through its previous all-time high March 5. 

The market has risen this year because of optimism that housing is recovering and that employers and starting to hire again. Strong company earnings and continuing stimulus from the Federal Reserve have also increased demand for stocks. 

Small stocks fared worse than large ones Monday. 

The Russell 2000, a benchmark of small-company stocks, fell 1.3 percent to 938.78, paring its gain for the year to 10.5 percent. It was the index's biggest decline in more than a month. The Nasdaq composite fell 28.35 points, or 0.9 percent, to 3,239.17. 

April is historically the second-strongest month for stocks, Deutsche Bank analysts said in report released Monday. The S&P 500 has gained an average of 1.4 percent in April, based on returns since 1960, making it the second strongest month after December. 

 *The NYSE DOW closed  	LOWER ▼	-5.69	points or ▼	-0.04%	Monday, 1 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,572.85	▼	-5.69	▼	-0.04%	
	Nasdaq____	3,239.17	▼	-28.35	▼	-0.87%	
	S&P_500____	1,562.17	▼	-7.02	▼	-0.45%	
	30_Yr_Bond____	3.085	▼	-0.02	▼	-0.61%	

NYSE Volume	 3,019,848,500 			 		 	
Nasdaq Volume	 1,480,855,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,411.74	▲	24.18	▲	0.38%	closed for holiday April 1
	DAX_____	7,795.31	▲	6.22	▲	0.08%	closed for holiday April 1
	CAC_40__	3,731.42	▲	19.78	▲	0.53%	closed for holiday April 1

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,979.90	▼	-27.10	▼	-0.54%	closed for holiday April 1 
	Shanghai_Comp	2,234.40	▼	-1.91	▼	-0.09%	
	Taiwan_Weight	7,899.24	▲	32.36	▲	0.41%	
	Nikkei_225____	12,135.02	▼	-262.89	▼	-2.12%	
	Hang_Seng____	22,299.63	▲	53.93	▼	-0.74%	closed for holiday April 1
	Strait_Times___	3,307.58	▼	-0.52	▼	-0.02%	
	NZX_50_Index__	4,422.75	▲	10.69	▲	0.24%	closed for holiday April 1

http://finance.yahoo.com/news/stocks-dip-manufacturing-growth-slows-153406339.html

*Stocks dip after manufacturing growth slows

Stocks falter after report shows manufacturing growth slowed more than forecast in March*

By Steve Rothwell, AP Markets Writer

The stock market got off to a slow start in April, edging lower after the Standard and Poor's 500 index eclipsed its all-time high last week. 

The main catalyst was a slowdown in U.S. manufacturing growth last month. The decline in the Institute for Supply Management's benchmark manufacturing index for March was worse than economists had forecast. Stocks started falling shortly after the report came out at 10 a.m. and stayed lower the rest of the day. 

The Dow Jones industrial average closed 5.69 points, or 0.04 percent, lower at 14,572.85. The Standard & Poor's 500 index dropped 7.02 points, or 0.5 percent, to 1,562.17. 

Industrial companies fell 1 percent, the most in the S&P. 3M, which makes Post-it notes, industrial products and construction materials, fell 66 cents, or 0.6 percent, to $105.65. Caterpillar, a maker of construction and mining equipment, dropped $1.33, or 1.5 percent, to $85.64. 

Investors have raised their expectations for the U.S. economy as the market has climbed this year, said JJ Kinahan, chief derivatives strategist at TD Ameritrade. The Dow is up 11.2 percent in 2013, the S&P 9.5 percent. 

"The numbers have to be outstanding in order to drive the market higher," Kinahan said. "It's a different mindset when we're at these levels." 

The S&P 500 closed the first quarter at an all-time high of 1,569.19, surpassing its previous record close of 1,565.15 set on Oct. 9, 2007. The index has recaptured all of its losses from the financial crisis and the Great Recession. The Dow broke through its previous all-time high March 5. 

The market has risen this year because of optimism that housing is recovering and that employers and starting to hire again. Strong company earnings and continuing stimulus from the Federal Reserve have also increased demand for stocks. 

Small stocks fared worse than large ones Monday. 

The Russell 2000, a benchmark of small-company stocks, fell 1.3 percent to 938.78, paring its gain for the year to 10.5 percent. It was the index's biggest decline in more than a month. The Nasdaq composite fell 28.35 points, or 0.9 percent, to 3,239.17. 

April is historically the second-strongest month for stocks, Deutsche Bank analysts said in report released Monday. The S&P 500 has gained an average of 1.4 percent in April, based on returns since 1960, making it the second strongest month after December. 

The last meaningful setback for stocks started before November's election. The market slid 6 percent between Oct. 1 and Nov. 15 in the run-up to the vote and immediately afterwards on concerns that Washington would be unable to enact reforms to keep the economy growing. 

Evidence that growth is continuing, despite the political tensions in Washington, have kept stocks on an upward trajectory since then, leaving investors waiting for dips to add to their holdings. 

"I'd love to have some sort of a pullback here because I'd think it's an opportunity," said Scott Wren, an equity strategist at Wells Fargo Advisors. "But it doesn't feel like we're going to have one in the near term." 

The yield on the 10-year Treasury note, which moves inversely to its price, fell to 1.84 percent from 1.85 percent. 

Markets were closed in observance of Good Friday last week. European markets were closed Monday for Easter. 

Among other stocks making big moves: 

”” Tesla Motors jumped $6.04, or 16 percent, to $43.93 after the electric car company said sales are running ahead of schedule. The Palo Alto, Calif., company said Sunday night that first-quarter sales have exceeded 4,750 Model S sedans, above its previous forecast of 4,500. 

”” DFC Global, a finance company that provides loans to consumers without bank accounts, fell $3.60, or 22 percent, to $13.04 after slashing its earnings estimate for its fiscal year because of increasing loan defaults in its business in Britain. 

”” American Greetings rose $1.95, or 12 percent, to $18.05 after the company agreed to be taken private for about $602 million by a group led by some of its top executives.


----------



## bigdog

Source: http://finance.yahoo.com 

The Dow Jones industrial average closed at a record high Tuesday after reports on auto sales and factory orders provided the latest evidence that the U.S. economy is strengthening. Traders plowed money back into European stocks as the financial situation in Cyprus appeared to stabilize. 

Health insurers powered the gains a day after the government released revised reimbursement rates for Medicare Advantage plans. The new numbers suggest that funding cuts will be less severe than analysts and companies had feared. 

The Dow closed up 89.16 points, or 0.6 percent, at 14,662.01. It had risen as high as 14,684 in the late morning. 

The Dow broke through an all-time record on March 5. It has risen steadily since then, routinely setting new trading highs. 

The Standard & Poor's 500 index rose 8.08 points, or 0.5 percent, to 1,570.25. It rose to within two points of its trading high of 1,576 reached on Oct. 11, 2007. 

European markets closed sharply higher on the first trading day after a tense, four-day holiday weekend. Paris' CAC-40 rose 2 percent, London's FTSE 100 1.2 percent and Frankfurt's DAX 1.9 percent. 

The gains in Europe markets boosted confidence among U.S. investors. While European markets were closed for four days for the Easter holiday, many traders feared that Cyprus' precarious financial situation would worsen. That concern also weighed on U.S. markets Monday, said Peter Tchir, who runs the hedge fund TF Market Advisors. 

But no bad news materialized. Instead, Cyprus' international lenders agreed to extend until 2018 its deadline for meeting key budget targets. European markets opened higher and rose strongly after U.S. trading began Tuesday. The gains fed a virtuous cycle that sent stocks higher on both sides of the Atlantic, Tchir said. 

"Everyone was waiting to see if Europe had problems from Cyprus," he said. "Instead, we got the all-clear signal." 

The trading day began with solid March sales reports from U.S. automakers. Chrysler said it sold more cars and trucks than in any month since the Great Recession began, an increase of 5 percent. Sales for General Motors and Ford rose 6 percent.

 *The NYSE DOW closed  	HIGHER ▲	89.16	points or ▲	0.61%	Tuesday, 2 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,662.01	▲	89.16	▲	0.61%	
	Nasdaq____	3,254.86	▲	15.69	▲	0.48%	
	S&P_500____	1,570.25	▲	8.08	▲	0.52%	
	30_Yr_Bond____	3.102	▲	0.02	▲	0.55%	

NYSE Volume	 3,594,881,250 			 		 	
Nasdaq Volume	 1,588,663,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,490.66	▲	78.92	▲	1.23%	
	DAX_____	7,943.87	▲	148.56	▲	1.91%	
	CAC_40__	3,805.37	▲	73.95	▲	1.98%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,995.50	▲	15.60	▲	0.31%	
	Shanghai_Comp	2,227.74	▼	-6.66	▼	-0.30%	
	Taiwan_Weight	7,913.18	▲	13.94	▲	0.18%	
	Nikkei_225____	12,003.43	▼	-131.59	▼	-1.08%	
	Hang_Seng____	22,367.82	▲	53.93	▲	0.31%	
	Strait_Times___	3,316.30	▲	8.72	▲	0.26%	
	NZX_50_Index__	4,411.41	▼	-11.34	▼	-0.26%	

http://finance.yahoo.com/news/health-insurers-lead-stocks-higher-191346781.html

*Health insurers lead stocks higher on Wall Street

Health insurers lead US stocks higher; traders are relieved that Europe appears more stable*

By Daniel Wagner, AP Business Writer

The Dow Jones industrial average closed at a record high Tuesday after reports on auto sales and factory orders provided the latest evidence that the U.S. economy is strengthening. Traders plowed money back into European stocks as the financial situation in Cyprus appeared to stabilize. 

Health insurers powered the gains a day after the government released revised reimbursement rates for Medicare Advantage plans. The new numbers suggest that funding cuts will be less severe than analysts and companies had feared. 

The Dow closed up 89.16 points, or 0.6 percent, at 14,662.01. It had risen as high as 14,684 in the late morning. 

The Dow broke through an all-time record on March 5. It has risen steadily since then, routinely setting new trading highs. 

The Standard & Poor's 500 index rose 8.08 points, or 0.5 percent, to 1,570.25. It rose to within two points of its trading high of 1,576 reached on Oct. 11, 2007. 

European markets closed sharply higher on the first trading day after a tense, four-day holiday weekend. Paris' CAC-40 rose 2 percent, London's FTSE 100 1.2 percent and Frankfurt's DAX 1.9 percent. 

The gains in Europe markets boosted confidence among U.S. investors. While European markets were closed for four days for the Easter holiday, many traders feared that Cyprus' precarious financial situation would worsen. That concern also weighed on U.S. markets Monday, said Peter Tchir, who runs the hedge fund TF Market Advisors. 

But no bad news materialized. Instead, Cyprus' international lenders agreed to extend until 2018 its deadline for meeting key budget targets. European markets opened higher and rose strongly after U.S. trading began Tuesday. The gains fed a virtuous cycle that sent stocks higher on both sides of the Atlantic, Tchir said. 

"Everyone was waiting to see if Europe had problems from Cyprus," he said. "Instead, we got the all-clear signal." 

The trading day began with solid March sales reports from U.S. automakers. Chrysler said it sold more cars and trucks than in any month since the Great Recession began, an increase of 5 percent. Sales for General Motors and Ford rose 6 percent. 

Orders to U.S. factories rose 3 percent in February, the best gain in five months, the government said after trading began. The increase was driven by a surge in demand for commercial aircraft, an especially volatile category. 

Health care stocks rose the most of the 10 sectors in the S&P 500 index, adding 1.4 percent. The sector is up 17.1 percent this year. 

Traders were relieved about the insurers' prospects after Monday's news about Medicare Advantage rates. Preliminary data released in February had raised fears that companies offering the plans would be forced to cut benefits, increase customers' premiums or abandon some markets. This week's data suggest that may not be necessary. 

UnitedHealth was the biggest gainer in the Dow. DaVita HealthCare Partners Inc. led the S&P 500 higher. Also among the S&P 500's top 15 gainers were Humana Inc., Aetna Inc. and Cigna Corp. 

UnitedHealth rose $2.77, or 4.7 percent, to $61.74. DaVita rose $7.29, or 6.1 percent, to $127.20. Humana gained $4.09, or 5.5 percent, to $79.11. Aetna rose $1.92, or 3.7 percent, to $54.30. Cigna added $1.84, or 2.9 percent, to $64.75. 

Airline stocks fell sharply after Delta Air Lines Inc. said a key measure of revenue was hurt last month by government spending cuts, a technical glitch and attempts to get passengers to pay more. 

Delta fell $1.31, or 8.1 percent, to $14.94. United Continental Holdings Inc. lost $1.59, or 5.1 percent, to $29.38. US Airways Group Inc. fell 93 cents, or 5.6 percent, to $15.74. JetBlue Airways Corp. dropped 40 cents, or 5.9 percent, to $6.34. 

The industry dragged the Dow Jones transportation average down 1.2 percent. The index fell even more on Monday, 1.5 percent, after U.S. manufacturing slowed more than economists forecast in March. The index, which includes airlines like Delta, United and freight companies FedEx and UPS, has gained 14.7 percent this year. 

The manufacturing report was "much weaker than expected," according to Jim Russell, an investment director at US Bank. He said companies that are closely tied to the economic cycle "have really taken on some water because of what that implies." 

For the second day in a row, small stocks underperformed the market. The Russell 2000 index of small-company stocks fell 4.49 points, or 0.5 percent, to 934.20. The Russell had risen more than large-company indexes in the first quarter, gaining 12 percent versus 11.3 percent for the Dow and 10 percent for the S&P. 

The Nasdaq composite rose 15.69, or 0.5 percent, to 3,254.86. 

Some other companies making big moves: 

”” Hewlett-Packard plunged after a Goldman Sachs analyst downgraded the stock, predicting the company's earnings will be weak. Shares fell $1.21, or 5.2 percent, to $22.10. 

”” Urban Outfitters climbed a day after the clothing and accessories company said sales at stores open at least a year have grown in the high single digits in the first two months of the fiscal quarter started Feb. 1. Sales at stores open at least a year is a key gauge of a retailer's health because it excludes results from stores recently opened or closed. The stock rose $1.46, or 3.8 percent, to $39.87. 

”” Actavis Inc. rose after a U.S. court declared a rival's patent invalid, clearing the way for Actavis to sell a generic asthma inhaler. The stock added $4.22 or 4.6 percent, to $96.68.


----------



## bigdog

Source: http://finance.yahoo.com 

Weak reports on hiring and service industries sent the stock market sharply lower Wednesday, giving the Dow Jones industrial average its worst day in more than a month. 

The Dow fell 111.66 points, or 0.8 percent, to 14,550.35, its worst decline since Feb. 25. The Standard & Poor's 500 index dropped 16.56 points, or 1.1 percent, to 1,553.69. Both indexes closed at record highs the day before. 

The stock market started 2013 with a rally as investors became more optimistic about the U.S. economy, especially housing and jobs. The reports Wednesday disappointed the market and came two days after news that U.S. manufacturing growth slowed unexpectedly last month. 

The losses were widespread. All 10 industry groups in the S&P 500 index fell. Banks and energy stocks had the worst losses, 1.7 percent and 1.6 percent. Utilities, which investors hold when they want to play it safe, fell the least, 0.3 percent. 

"The market is overdue for a correction," said Joe Saluzzi at Themis Trading. "I don't think that the economy supports this type of a rally." 

Signs of investor skittishness appeared across a number of different markets. 

Commodities slumped. Crude oil dropped $2.74, or 2.8 percent, to close at $94.45 a barrel and industrial metals like copper fell. 

The yield on the 10-year Treasury note fell to 1.81 percent from 1.86 percent, the lowest level for the benchmark rate since January. The decline means investors are moving money into low-risk U.S. government debt. 

The Russell 2000 index, which tracks small company stocks, fell for a third straight day, dropping 1.7 percent. It's now down 3.5 percent so far this week, far worse than the declines in the Dow, 0.2 percent, and the S&P, 1 percent. That's another signal that investors may be becoming more bearish about the U.S. economy. 

Small company stocks, which did better than the Dow and the S&P 500 in the first three months of the year, are more sensitive to the outlook for the U.S. economy than the larger companies in the Dow and S&P. That's because they rely far more on domestic sales than global giants like IBM and Caterpillar, which sells heavy machinery and construction equipment around the globe. 

The Dow Jones Transportation Average, an index of 20 stocks including airlines like Delta and freight companies FedEx and UPS, fell more than 1 percent for a third straight day. The index, which is regarded as a leading indicator for broader market indexes as well as the economy, has fallen 3.9 percent this week, after surging 17.9 percent in the first quarter. 

 *The NYSE DOW closed  	LOWER ▼	-111.66	points or ▼	-0.76%	Wednesday, 3 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,550.35	▼	-111.66	▼	-0.76%	
	Nasdaq____	3,218.60	▼	-36.26	▼	-1.11%	
	S&P_500____	1,553.69	▼	-16.56	▼	-1.05%	
	30_Yr_Bond____	3.050	▼	-0.05	▼	-1.52%	

NYSE Volume	 4,458,017,000 			 		 	
Nasdaq Volume	 1,825,377,500 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,420.28	▼	-70.38	▼	-1.08%	
	DAX_____	7,874.75	▼	-69.12	▼	-0.87%	
	CAC_40__	3,754.96	▼	-50.41	▼	-1.32%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,966.40	▼	-29.10	▼	-0.58%	
	Shanghai_Comp	2,225.29	▼	-2.45	▼	-0.11%	
	Taiwan_Weight	7,942.35	▲	29.17	▲	0.37%	
	Nikkei_225____	12,362.20	▲	358.77	▲	2.99%	
	Hang_Seng____	22,392.68	▲	53.93	▲	0.11%	
	Strait_Times___	3,321.77	▲	4.18	▲	0.13%	
	NZX_50_Index__	4,412.85	▲	1.44	▲	0.03%	

http://news.yahoo.com/weak-economic-reports-send-stock-182723948.html

*Weak economic reports send stock market lower

Stocks slump following reports of slower hiring and weak growth in service industries*

By Steve Rothwell, AP Markets Writer

Weak reports on hiring and service industries sent the stock market sharply lower Wednesday, giving the Dow Jones industrial average its worst day in more than a month. 

The Dow fell 111.66 points, or 0.8 percent, to 14,550.35, its worst decline since Feb. 25. The Standard & Poor's 500 index dropped 16.56 points, or 1.1 percent, to 1,553.69. Both indexes closed at record highs the day before. 

The stock market started 2013 with a rally as investors became more optimistic about the U.S. economy, especially housing and jobs. The reports Wednesday disappointed the market and came two days after news that U.S. manufacturing growth slowed unexpectedly last month. 

The losses were widespread. All 10 industry groups in the S&P 500 index fell. Banks and energy stocks had the worst losses, 1.7 percent and 1.6 percent. Utilities, which investors hold when they want to play it safe, fell the least, 0.3 percent. 

"The market is overdue for a correction," said Joe Saluzzi at Themis Trading. "I don't think that the economy supports this type of a rally." 

Signs of investor skittishness appeared across a number of different markets. 

Commodities slumped. Crude oil dropped $2.74, or 2.8 percent, to close at $94.45 a barrel and industrial metals like copper fell. 

The yield on the 10-year Treasury note fell to 1.81 percent from 1.86 percent, the lowest level for the benchmark rate since January. The decline means investors are moving money into low-risk U.S. government debt. 

The Russell 2000 index, which tracks small company stocks, fell for a third straight day, dropping 1.7 percent. It's now down 3.5 percent so far this week, far worse than the declines in the Dow, 0.2 percent, and the S&P, 1 percent. That's another signal that investors may be becoming more bearish about the U.S. economy. 

Small company stocks, which did better than the Dow and the S&P 500 in the first three months of the year, are more sensitive to the outlook for the U.S. economy than the larger companies in the Dow and S&P. That's because they rely far more on domestic sales than global giants like IBM and Caterpillar, which sells heavy machinery and construction equipment around the globe. 

The Dow Jones Transportation Average, an index of 20 stocks including airlines like Delta and freight companies FedEx and UPS, fell more than 1 percent for a third straight day. The index, which is regarded as a leading indicator for broader market indexes as well as the economy, has fallen 3.9 percent this week, after surging 17.9 percent in the first quarter. 

U.S. service companies kept growing at a solid pace in March, but the expansion was less than economists were expecting. The Institute for Supply Management's index of service companies fell to 54.4 from 56 a month earlier. The report was the weakest in seven months. 

Separately, payrolls processor ADP reported that U.S. employers added 158,000 jobs last month, down from February's gain of 237,000. The ADP report is often seen as a preview for the government's broader survey on employment, which is due out Friday. 

The slowdown in hiring was due in part to construction firms holding back on adding new employees. That sent the stocks of homebuilders lower. PulteGroup fell 85 cent, or 4.3 percent, to $19.01 and D.R. Horton dropped 57 cents to $22.84. 

In other trading, the Nasdaq composite fell 36.26 points, or 1.1 percent, to 3,218.60. 

Even though stocks started the second quarter lower, markets typically add to their gains after ending the first quarter up, said Sam Stovall, an equity strategist at S&P Capital IQ. Using data going back over more than 60 years, Stovall says that the S&P 500 has gained an average of 9 percent from April to December after rising in the first quarter. 

"Investors believe that the economic trajectory is improving," said Stovall. Stocks "do not reflect the true valuations based on where the economy will be at the end of the year." 

Among stocks making big moves: 

”” Zynga rose 46 cents, or 15 percent, to $3.53 after the online game maker said two casino games would debut in the United Kingdom Wednesday. 

”” Abercrombie & Fitch rose $1.74, or 3.8 percent, to $47.20, making it the biggest percentage gainer in the S&P 500. The company said late Tuesday that it planned to expand internationally and place greater emphasis on cost control.


----------



## bigdog

Source: http://finance.yahoo.com 

The Dow Jones industrial average closed higher Thursday, regaining half of its plunge the day before, as buyers returned to the market. 

The Dow rose 55.76 points, or 0.4 percent, to close at 14,606.11. On Wednesday it dropped 111, its worst fall in more than a month, following weak reports on hiring and service industries. The decline was enough to make stock prices seem attractive again. 

"Investors have been looking for a reason to sell, given the rally we've seen in the market in the past couple of months," said Joseph Tanious at JPMorgan Funds. "Today, you're seeing investors come back into the market and buy on the dip." 

The stock market got off to a strong start in 2013. The Dow climbed 10 percent in the first three months of the year and closed at a record high of 14,662 Tuesday. Investors have been encouraged by signs that the housing market was recovering and that hiring was picking up. 

The market continued a steady advance through the first two weeks of March, but since then indexes have been alternating between gains and losses on a nearly daily basis as investors' confidence in the U.S. economic recovery weakened. 

There was more discouraging economic news Thursday. The number of Americans seeking unemployment aid rose to a four-month high of 385,000 last week, the Labor Department said. The government will issue its employment report Friday, which investors look at closely for insight into how the U.S. economy is doing. 

Japanese stocks jumped and the yen sank after the country's central bank announced aggressive measures for getting the world's third-largest economy out of a two-decade slump. The Bank of Japan, under new Governor Haruhiko Kuroda, surprised markets by saying it would greatly increase the country's money supply with the goal of encouraging people and businesses to borrow and spend. The yen weakened 3.6 percent against the dollar, to 96.33 yen, while Tokyo's Nikkei stock index rose 2.2 percent to 12,634.54. 

In other trading, the Standard & Poor's 500 index rose 6.29 points, or 0.4 percent, to 1,559.98. The Nasdaq composite fell rose 6.38 points, or 0.2 percent, to 3,224.98. 

 *The NYSE DOW closed  	HIGHER ▲	55.76	points or ▲	0.38%	Thursday, 4 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,606.11	▲	55.76	▲	0.38%	
	Nasdaq____	3,224.98	▲	6.38	▲	0.20%	
	S&P_500____	1,559.98	▲	6.29	▲	0.40%	
	30_Yr_Bond____	2.987	▼	-0.07	▼	-2.23%	

NYSE Volume	 3,567,435,500 			 		 	
Nasdaq Volume	 1,470,237,620 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,344.12	▼	-76.16	▼	-1.19%	
	DAX_____	7,817.39	▼	-57.36	▼	-0.73%	
	CAC_40__	3,726.16	▼	-28.80	▼	-0.77%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,919.30	▼	-47.10	▼	-0.95%	
	Shanghai_Comp	2,225.29	▼	-2.45	▼	-0.11%	
	Taiwan_Weight	7,942.35	▲	29.17	▲	0.37%	
	Nikkei_225____	12,634.54	▲	272.34	▲	2.20%	
	Hang_Seng____	22,337.49	▲	53.93	▼	-0.14%	
	Strait_Times___	3,307.80	▼	-13.97	▼	-0.42%	
	NZX_50_Index__	4,430.17	▲	17.32	▲	0.39%	

http://sg.finance.yahoo.com/news/stocks-move-higher-wall-street-201524735.html

*Stocks move higher on Wall Street; Best Buy soars

Dow Jones industrial average gains 55 points, recovering half of its loss from a day before*

By Steve Rothwell, AP Markets Writer

The Dow Jones industrial average closed higher Thursday, regaining half of its plunge the day before, as buyers returned to the market. 

The Dow rose 55.76 points, or 0.4 percent, to close at 14,606.11. On Wednesday it dropped 111, its worst fall in more than a month, following weak reports on hiring and service industries. The decline was enough to make stock prices seem attractive again. 

"Investors have been looking for a reason to sell, given the rally we've seen in the market in the past couple of months," said Joseph Tanious at JPMorgan Funds. "Today, you're seeing investors come back into the market and buy on the dip." 

The stock market got off to a strong start in 2013. The Dow climbed 10 percent in the first three months of the year and closed at a record high of 14,662 Tuesday. Investors have been encouraged by signs that the housing market was recovering and that hiring was picking up. 

The market continued a steady advance through the first two weeks of March, but since then indexes have been alternating between gains and losses on a nearly daily basis as investors' confidence in the U.S. economic recovery weakened. 

There was more discouraging economic news Thursday. The number of Americans seeking unemployment aid rose to a four-month high of 385,000 last week, the Labor Department said. The government will issue its employment report Friday, which investors look at closely for insight into how the U.S. economy is doing. 

"The trend seems to be worsening," said Peter Cardillo, chief market economist at Rockwell Global Capital. "We're seeing a little hesitation in anticipation of tomorrow's job report." 

Safer industry groups rose Thursday. Telecommunications companies and utilities led the gains for the S&P 500, rising 1.3 percent and 0.9 percent. 

So-called defensive industries, such as health care, consumer staples and utilities, which have stable earnings and dividends, have led the market rally this year. Investors have been seeking out stocks that give them similar characteristics to debt investments after a powerful rally in bonds over the last year pushed yields sharply lower. The yield on the benchmark 10-year Treasury note has traded below 2 percent for most of the last year. 

The 10-year yield fell to 1.76 percent Thursday from 1.81 percent a day earlier, within a fraction of its lowest level of the year. The note's yield has declined over the last month as demand for less risky assets increased following the financial crisis in Cyprus and signs of a slowdown in the U.S. The yield was as high as 2.06 percent on March 11. 

Japanese stocks jumped and the yen sank after the country's central bank announced aggressive measures for getting the world's third-largest economy out of a two-decade slump. The Bank of Japan, under new Governor Haruhiko Kuroda, surprised markets by saying it would greatly increase the country's money supply with the goal of encouraging people and businesses to borrow and spend. The yen weakened 3.6 percent against the dollar, to 96.33 yen, while Tokyo's Nikkei stock index rose 2.2 percent to 12,634.54. 

U.S.-listed shares of Japanese automakers rose sharply. A weaker yen would make Japanese vehicles less expensive in markets outside Japan, and therefore more competitive. The U.S. shares of Toyota rose $4.75, or 4.7 percent, to $105.63, Honda's rose $2.01, or 5.4 percent, to $39.21 and Nissan's rose $1.03, or 5.5 percent, to $19.85. Japanese electronics makers also rose. Sony rose 57 cents, or 3.5 percent, to $17 and Panasonic climbed 27 cents, or 4.2 percent, to $6.69. 

In other trading, the Standard & Poor's 500 index rose 6.29 points, or 0.4 percent, to 1,559.98. The Nasdaq composite fell rose 6.38 points, or 0.2 percent, to 3,224.98. 

Among stocks making big moves, electronics retailer Best Buy jumped $3.48, or 16 percent, to $25.13 after saying it would collaborate with the Korean smartphone and tablet maker Samsung to open kiosks in its stores. 

Facebook rose 82 cents, or 3.1 percent, to $27.07 after the social network unveiled a new product for Android phones that will bring content to users on the phone's home screen. More Android integration could help Facebook Inc. attract more mobile advertisers. 

MetroPCS rose 16 cents, or 1.5 percent, to $11.12 after Reuters reported that Deutsche Telekom is considering amending the terms of the proposed merger between its T-Mobile USA business and local rival Metro PCS.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks fell on Wall Street Friday after the government reported a sharp slowdown in hiring last month that was far worse than economists had expected. 

The Dow Jones industrial average ended 40.86 points lower at 14,565.25, a loss of 0.3 percent. The index was down as much as 171 points in the early going, then rose gradually through the rest of the day to reclaim much of its early loss. 

U.S. employers added just 88,000 jobs in March, the Labor Department reported. That's half the average of the previous six months. The report was a disappointment for investors following positive signs on housing and the job market over the winter. 

The survey, one of the most closely watched indicators of the economy, dented investors' confidence that the U.S. was poised for a sustained recovery. The stock market has surged this year, pushing the Dow to another record high close on Tuesday. The index is still up 11.2 percent this year. 

"Things are still looking decent, but there's no doubt that this was a bit of a disappointment," said Brad Sorensen, Charles Schwab's director of market and sector research. "We're watching to see: is this the start of another soft patch?" 

In other trading, the Standard & Poor's 500 index fell 6.70 points, or 0.4 percent, to 1,553.28. The index logged its worst week of year, falling 1 percent. 

The Nasdaq composite, which includes many technology companies, fell 21.12 points, or 0.7 percent, to 3,203.86. 

Technology stocks fell the most of the 10 industry groups in the index, dropping 1 percent. Among big decliners in tech stocks, Cisco Systems fell 43 cents, or 2 percent, to $20.61. Oracle dropped 34 cents, or 1 percent, to $32.03. 

Investors were reducing their exposure to risk. The utilities and telecommunications industries bucked the downward trend. Both rose 0.4 percent. The rich dividends and stable earnings provided by those companies make them attractive to investors who want to play it safe. 

 *The NYSE DOW closed  	LOWER ▼	-40.86	points or ▼	-0.28%	Friday, 5 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,565.25	▼	-40.86	▼	-0.28%	
	Nasdaq____	3,203.86	▼	-21.12	▼	-0.65%	
	S&P_500____	1,553.28	▼	-6.70	▼	-0.43%	
	30_Yr_Bond____	2.863	▼	-0.12	▼	-4.15%	

NYSE Volume	 3,903,620,000 			 		 	
Nasdaq Volume	 1,613,814,880 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,249.78	▼	-94.34	▼	-1.49%	
	DAX_____	7,658.75	▼	-158.64	▼	-2.03%	
	CAC_40__	3,663.48	▼	-62.68	▼	-1.68%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,899.20	▼	-20.10	▼	-0.41%	
	Shanghai_Comp	2,225.29	▼	-2.45	▼	-0.11%	
	Taiwan_Weight	7,942.35	▲	29.17	▲	0.37%	
	Nikkei_225____	12,833.64	▲	199.10	▲	1.58%	
	Hang_Seng____	21,726.90	▲	53.93	▼	-2.73%	
	Strait_Times___	3,299.78	▼	-8.02	▼	-0.24%	
	NZX_50_Index__	4,432.97	▲	2.81	▲	0.06%	

http://sg.finance.yahoo.com/news/stocks-end-lower-disappointing-jobs-205405558.html

*Stocks end lower after disappointing jobs report

Stocks decline after US job growth slows in March; S&P 500 logs its worst week of the year*

By Steve Rothwell, AP Markets Writer

Stocks fell on Wall Street Friday after the government reported a sharp slowdown in hiring last month that was far worse than economists had expected. 

The Dow Jones industrial average ended 40.86 points lower at 14,565.25, a loss of 0.3 percent. The index was down as much as 171 points in the early going, then rose gradually through the rest of the day to reclaim much of its early loss. 

U.S. employers added just 88,000 jobs in March, the Labor Department reported. That's half the average of the previous six months. The report was a disappointment for investors following positive signs on housing and the job market over the winter. 

The survey, one of the most closely watched indicators of the economy, dented investors' confidence that the U.S. was poised for a sustained recovery. The stock market has surged this year, pushing the Dow to another record high close on Tuesday. The index is still up 11.2 percent this year. 

"Things are still looking decent, but there's no doubt that this was a bit of a disappointment," said Brad Sorensen, Charles Schwab's director of market and sector research. "We're watching to see: is this the start of another soft patch?" 

In other trading, the Standard & Poor's 500 index fell 6.70 points, or 0.4 percent, to 1,553.28. The index logged its worst week of year, falling 1 percent. 

Technology stocks fell the most of the 10 industry groups in the index, dropping 1 percent. Among big decliners in tech stocks, Cisco Systems fell 43 cents, or 2 percent, to $20.61. Oracle dropped 34 cents, or 1 percent, to $32.03. 

Investors were reducing their exposure to risk. The utilities and telecommunications industries bucked the downward trend. Both rose 0.4 percent. The rich dividends and stable earnings provided by those companies make them attractive to investors who want to play it safe. 

Natural gas companies were among the best performers on the S&P 500 as the price of the fuel rose 4.5 percent on concerns about supplies. The price of the fuel has risen 21 percent since the start of the year. Cabot Oil & Gas climbed $3.32, or 5.1 percent, to $67.96 and WPX Energy gained 80 cents, or 5.2 percent, to $16.15. 

Stocks pared their early losses as some investors inferred that slowing U.S. growth meant that the Federal Reserve would stick to its stimulus program. The central bank is buying $85 billion dollars in bonds every month as part of an effort to revive the economy. Its actions have been a big factor pushing the stock market higher this year. 

Quincy Krosby, a market strategist at Prudential Financial, said the slowdown in hiring made it more likely that the Fed would continue with its easy-money policy, which includes keeping interest rates at historically low levels. 

Investors will shift their focus to earnings reports next week. 

Alcoa, the first company in the Dow index to report earnings, will release its first-quarter financial results after the markets close Monday. Analysts expect profits for S&P 500 companies to rise 0.6 percent in the first quarter compared with the same period a year earlier, according to S&P Capital IQ. That compares with an increase of 7.7 percent in the fourth quarter of 2012. 

The yield on the 10-year Treasury note, which moves inversely to its price, plunged from 1.76 percent to 1.71 percent. The yield fell as low as 1.69 percent, the lowest since December. The benchmark rate has declined sharply over the last month, from 2.06 percent on March 11, as demand for low-risk assets increased amid mounting evidence that growth in the U.S. economy is slowing. 

Matthew Coffina, an editor at Morningstar StockInvestor, said stocks are still a better investment than bonds over the next decade because bonds will be vulnerable to any rise in inflation or interest rates. "We still have a strong preference for stocks," Coffina said. 

The Nasdaq composite, which includes many technology companies, fell 21.12 points, or 0.7 percent, to 3,203.86. 

F5 Networks, a network equipment and service provider based in Seattle, plunged 19 percent, the most of any S&P stock, after slashing its profit and revenue forecast. The company said its contract bookings fell sharply, as did its business with the federal government. The stock lost $17.21, or 19 percent, to $73.21. 

The Dow Jones Transportation Average, which includes airlines like United and Delta Airlines and shipping companies like UPS and FedEx, was down 3.5 percent for the week, its biggest weekly decline since September. The index is seen as a leading indicator of the broader market.

9188


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks ended modestly higher Monday, shrugging off an early decline, as investors waited to see whether big U.S. companies would deliver on expectations of strong earnings in 2013. 

Alcoa became the first major U.S. company to report earnings late Monday, and the results were mostly good. Aluminum maker's income was higher than analysts were expecting, but its revenue fell slightly short of expectations. Later this week the pace picks up with reports from Bed Bath & Beyond, Wells Fargo and JPMorgan Chase. 

A big factor driving the Standard & Poor's 500 up 9.6 percent this year has been optimism that it will be a good year for company profits. While the expectations for the first quarter are relatively modest, many investors are expecting to see more of a pickup in earnings later in the year. 

"We need to see some earnings growth here to justify the big gains we've seen in the first quarter," said Ryan Detrick, a senior technical analyst at Schaeffer's Investment Research. 

Earnings for companies in the S&P 500 index are expected to rise by 0.7 percent from the first quarter of last year, but that growth is expected to accelerate sharply to 13 percent in the final three-month period of the year, according to data from S&P Capital IQ. 

On Monday the Dow Jones industrial average rose 48.23 points, or 0.3 percent, to close at 14,613.48. The index started the day lower and fell as much as 67 points during morning trading. Alcoa's gain of 1.8 percent was one of the biggest in the Dow. It rose 15 cents to $8.39. The stock was off seven cents in after-hours trading. 

The S&P 500 index closed up 9.79 points, or 0.6 percent, at 1,563.07. 

The Dow and S&P have struggled for direction over the past three weeks. The S&P 500 has alternated between gains and losses every day as investors take advantage of any weakness to add to their holdings. 

 *The NYSE DOW closed  	HIGHER ▲	48.23	points or ▲	0.33%	Monday, 8 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,613.48	▲	48.23	▲	0.33%	
	Nasdaq____	3,222.25	▲	18.39	▲	0.57%	
	S&P_500____	1,563.07	▲	9.79	▲	0.63%	
	30_Yr_Bond____	2.903	▲	0.04	▲	1.40%	

NYSE Volume	 3,184,260,250 			 		 	
Nasdaq Volume	 1,325,433,250 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,276.94	▲	27.16	▲	0.43%	
	DAX_____	7,662.64	▲	3.89	▲	0.05%	
	CAC_40__	3,666.78	▲	3.30	▲	0.09%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,912.70	▲	13.50	▲	0.28%	
	Shanghai_Comp	2,211.59	▼	-13.70	▼	-0.62%	
	Taiwan_Weight	7,752.79	▼	-189.56	▼	-2.39%	
	Nikkei_225____	13,192.59	▲	358.95	▲	2.80%	
	Hang_Seng____	21,718.05	▲	53.93	▼	-0.04%	
	Strait_Times___	3,284.61	▼	-15.17	▼	-0.46%	
	NZX_50_Index__	4,397.20	▼	-35.77	▼	-0.81%	

http://finance.yahoo.com/news/stocks-rise-ahead-earnings-season-211118548.html

*Stocks rise ahead of earnings season

Stocks rise ahead of earnings season; Lufkin soars on GE bid*

By Steve Rothwell, AP Markets Writer

Stocks ended modestly higher Monday, shrugging off an early decline, as investors waited to see whether big U.S. companies would deliver on expectations of strong earnings in 2013. 

Alcoa became the first major U.S. company to report earnings late Monday, and the results were mostly good. Aluminum maker's income was higher than analysts were expecting, but its revenue fell slightly short of expectations. Later this week the pace picks up with reports from Bed Bath & Beyond, Wells Fargo and JPMorgan Chase. 

A big factor driving the Standard & Poor's 500 up 9.6 percent this year has been optimism that it will be a good year for company profits. While the expectations for the first quarter are relatively modest, many investors are expecting to see more of a pickup in earnings later in the year. 

"We need to see some earnings growth here to justify the big gains we've seen in the first quarter," said Ryan Detrick, a senior technical analyst at Schaeffer's Investment Research. 

Earnings for companies in the S&P 500 index are expected to rise by 0.7 percent from the first quarter of last year, but that growth is expected to accelerate sharply to 13 percent in the final three-month period of the year, according to data from S&P Capital IQ. 

On Monday the Dow Jones industrial average rose 48.23 points, or 0.3 percent, to close at 14,613.48. The index started the day lower and fell as much as 67 points during morning trading. Alcoa's gain of 1.8 percent was one of the biggest in the Dow. It rose 15 cents to $8.39. The stock was off seven cents in after-hours trading. 

The S&P 500 index closed up 9.79 points, or 0.6 percent, at 1,563.07. 

The Dow and S&P have struggled for direction over the past three weeks. The S&P 500 has alternated between gains and losses every day as investors take advantage of any weakness to add to their holdings. 

Telecommunications stocks fell 0.5 percent and health care stocks inched up just 0.2 percent, lagging the rest of the market. The two industry groups have performed well this year as investors sought out less risky stocks that pay good dividends. Health care companies are up almost 16 percent, making them the best performers in the S&P 500. 

Lufkin Industries, an oilfield equipment maker, surged $24.03, or 38 percent, to $87.96 after General Electric Co. agreed to buy the company for $3 billion. GE wants to bolster its oil and gas operations. Its stock rose 19 cents, or 0.8 percent, to $23.12. 

Johnson & Johnson logged the biggest percentage decline on the 30-member Dow Jones industrial average, dropping 93 cents to $81.11. Analysts at JPMorgan cut their rating on the stock to "neutral," saying it has risen too far, too fast. Johnson & Johnson is up 16 percent this year. 

Stocks fell Friday after the government reported a slowdown in hiring that was far worse than economists had expected. The report capped a bad week: The S&P 500 logged its biggest weekly decline of the year as signs emerged that U.S. growth is starting to cool. 

In other trading, the Nasdaq composite index rose 18.39 points, or 0.6 percent, to 3,222.25. 

The yield on the 10-year Treasury rose to 1.75 percent from 1.71 percent late Friday. It went as 1.69 percent Friday, its lowest level of the year. The benchmark rate has fallen from a recent high of 2.06 percent reached March 11 as demand for low-risk assets increases.


----------



## bigdog

Source: http://finance.yahoo.com 

Materials and energy companies led the stock market higher Tuesday, sending the Dow Jones industrial average to its second all-time high in a week. 

The Dow closed at 14,673.46, a gain of 59.98 points, or 0.4 percent. The Standard & Poor's 500 index also rose 0.4 percent, closing less than two points below its own all-time high set April 2. 

The prices of metals like copper, gold and silver have rebounded this week after slumping for the first three months of the year on waning demand. Oil is also rising following a sharp decline last week. 

"You're seeing some pretty decent action in the overall market, with today's leadership coming from the basic materials sector," said Robert Pavlik, chief market strategist at Banyan Partners. "It's an area of the market that does represent some value because it's underperformed." 

The rise in basic materials such as precious metals was caused by a weakening of the dollar against other currencies, HSBC analyst Howard Wen said. Commodities are typically priced in dollars and a decline in the currency allows overseas buyers to purchase materials at lower prices. 

Materials companies were the biggest gainers of the 10 industry groups in the S&P 500, rising 1.1 percent. Energy companies posted the second best return, increasing 0.8 percent. Those two groups have been among the weakest in the market this year. 

On Tuesday the S&P 500 rose 5.54 points to 1,568.61. The index closed at a record high of 1,570.25 on April 2. The Nasdaq composite gained 15.61 points, or 0.5 percent, to 3,237.86. 

The gains suggested that the Dow and S&P 500 may be poised to break out of a trading pattern they've followed for the last three weeks. 

Stocks have mostly moved sideways since the middle of March. The Dow has alternated between small gains and losses after starting the year on a tear. Signs of slowing growth and concerns about the outlook for Europe had checked investors' confidence. 

 *The NYSE DOW closed  	HIGHER ▲	59.98	points or ▲	0.41%	Tuesday, 9 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,673.46	▲	59.98	▲	0.41%	
	Nasdaq____	3,237.86	▲	15.61	▲	0.48%	
	S&P_500____	1,568.61	▲	5.54	▲	0.35%	
	30_Yr_Bond____	2.932	▲	0.03	▲	1.00%	

NYSE Volume	 3,554,755,750 			 		 	
Nasdaq Volume	 1,505,878,120 			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,313.21	▲	36.27	▲	0.58%	
	DAX_____	7,637.51	▼	-25.13	▼	-0.33%	
	CAC_40__	3,670.72	▲	3.94	▲	0.11%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,980.20	▲	67.50	▲	1.37%	
	Shanghai_Comp	2,225.77	▲	14.18	▲	0.64%	
	Taiwan_Weight	7,728.54	▼	-24.25	▼	-0.31%	
	Nikkei_225____	13,192.35	▼	-0.24	▲	0.00%	
	Hang_Seng____	21,870.34	▲	53.93	▲	0.70%	
	Strait_Times___	3,296.57	▲	11.96	▲	0.36%	
	NZX_50_Index__	4,395.21	▼	-2.00	▼	-0.05%	

http://finance.yahoo.com/news/dow-j...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Dow Jones average closes at another record high

Stocks of basic material companies rise along with surging commodities prices; Dow hits record*

By Steve Rothwell, AP Markets Writer 

Materials and energy companies led the stock market higher Tuesday, sending the Dow Jones industrial average to its second all-time high in a week. 

The Dow closed at 14,673.46, a gain of 59.98 points, or 0.4 percent. The Standard & Poor's 500 index also rose 0.4 percent, closing less than two points below its own all-time high set April 2. 

The prices of metals like copper, gold and silver have rebounded this week after slumping for the first three months of the year on waning demand. Oil is also rising following a sharp decline last week. 

"You're seeing some pretty decent action in the overall market, with today's leadership coming from the basic materials sector," said Robert Pavlik, chief market strategist at Banyan Partners. "It's an area of the market that does represent some value because it's underperformed." 

The rise in basic materials such as precious metals was caused by a weakening of the dollar against other currencies, HSBC analyst Howard Wen said. Commodities are typically priced in dollars and a decline in the currency allows overseas buyers to purchase materials at lower prices. 

Materials companies were the biggest gainers of the 10 industry groups in the S&P 500, rising 1.1 percent. Energy companies posted the second best return, increasing 0.8 percent. Those two groups have been among the weakest in the market this year. 

On Tuesday the S&P 500 rose 5.54 points to 1,568.61. The index closed at a record high of 1,570.25 on April 2. The Nasdaq composite gained 15.61 points, or 0.5 percent, to 3,237.86. 

The gains suggested that the Dow and S&P 500 may be poised to break out of a trading pattern they've followed for the last three weeks. 

Stocks have mostly moved sideways since the middle of March. The Dow has alternated between small gains and losses after starting the year on a tear. Signs of slowing growth and concerns about the outlook for Europe had checked investors' confidence. 

As companies report results this week, investors will be looking to see whether they are feeling any impact from government spending cuts that kicked in recently, said Jim Russell, investment director at U.S. Bank. They will also want to know what effect there will might from the ongoing debt crisis in Europe. 

"The market is looking for companies to fill in those blanks," said Russell. 

Alcoa, traditionally the first company in the Dow to report results, was flat at $8.39 after the company posted its earnings late Monday. Online auto retailer CarMax, home goods retailer Bed Bath & Beyond and the banks Wells Fargo and JPMorgan Chase report later this week. 

On Tuesday, Cliff's Natural Resources, an iron ore mining company, rose $1.66, or 8.8 percent, to $20.45. The company's stock is still down 47 percent this year. Freeport-McMoRan Copper & Gold, another mining company, was up $1.34, or 4.1 percent, at $33.76. 

First Solar soared after the solar panel maker issued a better-than-expected forecast for its 2013 results and solid predictions for the following two years, helped by continued growth in shipments. The stock price rose $12.31, or 46 percent, to $39.35. 

Small company stocks lagged the market. The Russell 2000 index two points, or 0.2 percent, to 929.34. The index has slumped this month after rising 12 percent in the first quarter and performing better than both the Dow and S&P 500. 

While stocks are struggling to extend their gains from the start of the year, bonds have rallied. 

The yield on the 10-year Treasury note was unchanged at 1.75 percent Tuesday. However, the benchmark rate has fallen from a high of 2.06 percent reached March 11 as demand for low-risk assets increases.


----------



## bigdog

Source: http://finance.yahoo.com 
Technology stocks roared back Wednesday, driving the Standard & Poor's 500 and Dow Jones industrial average to record highs. 

The industry has lagged the broader market this year, but surged after network communication company Adtran reported earnings that were double what Wall Street analysts expected. That boosted optimism that businesses will increase spending on technology equipment. 

Chipmakers Micron and Intel jumped, as did other network equipment makers like Cisco and JDS Uniphase. Stocks were also up on an optimistic reading of the Federal Reserve Bank's latest minutes. 

Technology stocks rose 1.8 percent, the most of the 10 industry groups in the S&P. That's a big change from tech's weak performance this year. The group is up just 4.7 percent, trailing the S&P's gain of 11.3 percent. 

"Tech has performed so poorly, it's oversold and warrants some interest here," said Scott Wren, a senior equity strategist at Wells Fargo Advisors. "If the economy continues to improve there is going to be some capital spending." 

The stock market is reversing course from last week, when investors' confidence fell because of an unexpectedly poor report on the U.S. job market and other signs that the economy slowed in March. 

The Dow Jones industrial average jumped 128.78 points, or 0.9 percent, to 14,802.24. It was the third straight gain for the blue-chip index and its biggest one-day rise in a month. The Dow surged in the first three months of the year and is still up 13 percent in 2013. 

The Nasdaq composite, which is heavily weighted with technology stocks, had the biggest percentage gain of the three main indexes Wednesday, rising 59.39 points, or 1.8 percent, to 3,297.25 The S&P rose 19.12 points, or 1.2 percent, to 1,587.73. 

Investors are seeing positive news in the minutes from the Federal Reserve's latest meeting, which were released Wednesday. The minutes revealed that policy makers are becoming more confident that the U.S. economy can grow without the help of the bank's stimulus program, said Brian Gendreau, a market strategist at Cetera Financial Group.  						

 *The NYSE DOW closed  	HIGHER ▲	0.01	points or ▲	#REF!	Wednesday, 10 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,780.95	▲	97.33	▲	0.01	
	Nasdaq___	2,915.83	▲	0.00	▲	0.00%	
	S&P_500__	1,343.23	▲	7.27	▲	0.54%	
	30_Yr_Bond	3.093	▲	0.00	▲	0.00%	

NYSE Volume	4,088,140			 		 	
Nasdaq Volume	2,056,358			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,853.80	▲	38.36	▲	0.65%	
	DAX_____	6,680.83	▲	77.11	▲	1.14%	
	CAC_40__	3,362.56	▲	27.79	▲	0.82%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,257.20	▲	70.20	▲	1.62%	
	Shanghai_Comp	2,356.86	▲	9.84	▲	0.42%	
	Taiwan_Weight	7,869.70	▲	135.54	▲	1.69%	
	Nikkei_225____	9,238.10	▲	22.24	▲	0.24%	
	Hang_Seng____	21,277.28	▲	87.95	▲	0.41%	
	Strait_Times___	2,977.20	▲	34.48	▲	1.14%	


http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks rise sharply, led by gains in technology

Stock market closes at record high, led by technology; Dow gains 128, the most in a month*

By Steve Rothwell, AP Markets Writer 

Technology stocks roared back Wednesday, driving the Standard & Poor's 500 and Dow Jones industrial average to record highs. 

The industry has lagged the broader market this year, but surged after network communication company Adtran reported earnings that were double what Wall Street analysts expected. That boosted optimism that businesses will increase spending on technology equipment. 

Chipmakers Micron and Intel jumped, as did other network equipment makers like Cisco and JDS Uniphase. Stocks were also up on an optimistic reading of the Federal Reserve Bank's latest minutes. 

Technology stocks rose 1.8 percent, the most of the 10 industry groups in the S&P. That's a big change from tech's weak performance this year. The group is up just 4.7 percent, trailing the S&P's gain of 11.3 percent. 

"Tech has performed so poorly, it's oversold and warrants some interest here," said Scott Wren, a senior equity strategist at Wells Fargo Advisors. "If the economy continues to improve there is going to be some capital spending." 

The stock market is reversing course from last week, when investors' confidence fell because of an unexpectedly poor report on the U.S. job market and other signs that the economy slowed in March. 

The Dow Jones industrial average jumped 128.78 points, or 0.9 percent, to 14,802.24. It was the third straight gain for the blue-chip index and its biggest one-day rise in a month. The Dow surged in the first three months of the year and is still up 13 percent in 2013. 

The Nasdaq composite, which is heavily weighted with technology stocks, had the biggest percentage gain of the three main indexes Wednesday, rising 59.39 points, or 1.8 percent, to 3,297.25 The S&P rose 19.12 points, or 1.2 percent, to 1,587.73. 

Investors are seeing positive news in the minutes from the Federal Reserve's latest meeting, which were released Wednesday. The minutes revealed that policy makers are becoming more confident that the U.S. economy can grow without the help of the bank's stimulus program, said Brian Gendreau, a market strategist at Cetera Financial Group. 

Many Fed members indicated they want to slow and eventually end the central bank's bond-buying program before the end of the year, as long as the job market and economy show sustained improvement. The $85 billion in monthly bond purchases has kept interest rates extremely low, with the goal of encouraging borrowing and spending. 

"The idea that the Fed thinks that we are closer to the restoration of normality might be positive for the market," said Gendreau. 

Among stocks making big moves, Facebook rose 98 cents, or 3.7 percent, to $27.57 after General Motors said it would start running ads on the social network site. Adtran rose $2.75, or 14 percent, to $22.46, and JDS Uniphase rose 64 cents, or 4.8 percent, to $13.98. 

Hospital stocks fell heavily after Deutsche Bank lowered its recommendation on the companies because their prices have risen so much that they no longer offer good value. Private hospitals have surged over the past year in anticipation that health care spending will increase following the introduction of Obama's health care plan. 

Health Management Associates plunged $2.06, or 16 percent, to $10.53. Tenet Healthcare fell $2.38, or 5.5 percent, to $41.14 and Community Health Systems dropped $1.65, or 3.8 percent, to $42.26. 

Bond yields fell as investors moved money out of safe U.S. government debt and into riskier assets. The yield on the 10-year Treasury note rose to 1.81 percent from 1.75 percent late Tuesday.


----------



## bigdog

Source: http://finance.yahoo.com 

Rite Aid, Ross Stores and other retailers surged Thursday after turning in better sales, and major stock market indexes rose for a fourth day straight.

The discount chain Ross Stores jumped 6 percent, the best gain in the Standard & Poor's 500 index. The company said stronger sales in March will likely push profits above its previous estimate this quarter. The stock jumped $3.56 to $63.80.

A surprising drop in claims for unemployment benefits last week gave investors more encouragement. Analysts said it could mean a slowdown in hiring last month may have been temporary.

"The numbers today make it seem like that March report was an anomaly," said David Heidl, a regional investment manager at U.S. Bank's wealth management unit. "It's another reason for optimism."

The Dow Jones industrial average gained 62.90 points to close at 14,865.14, an increase of 0.4 percent. The Standard & Poor's 500 index rose 5.64 points, also 0.4 percent, to 1,593.37.

Rite Aid soared 18 percent to $2.12 after the drugstore chain said higher sales of generic drugs and lower costs helped it post better earnings than analysts had expected. 

The tech-heavy Nasdaq composite index rose 2.90 points to 3,300.16. That's just 0.09 percent, far behind the Dow and S&P 500. Of the 10 industry groups in the S&P 500, information technology was the only one to fall.

 *The NYSE DOW closed  	HIGHER ▲	97.33 	points or ▲	0.76% Thursday, 11 April 2013 **
 Symbol …........Last ......Change..... * 
	Dow_Jones	12,780.95	▲	97.33	▲	0.76%	
	Nasdaq___	2,915.83	▲	0.00	▲	0.00%	
	S&P_500__	1,343.23	▲	7.27	▲	0.54%	
	30_Yr_Bond	3.093	▲	0.00	▲	0.00%	

NYSE Volume	4,088,140			 		 	
Nasdaq Volume	2,056,358			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,853.80	▲	38.36	▲	0.65%	
	DAX_____	6,680.83	▲	77.11	▲	1.14%	
	CAC_40__	3,362.56	▲	27.79	▲	0.82%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,257.20	▲	70.20	▲	1.62%	
	Shanghai_Comp	2,356.86	▲	9.84	▲	0.42%	
	Taiwan_Weight	7,869.70	▲	135.54	▲	1.69%	
	Nikkei_225____	9,238.10	▲	22.24	▲	0.24%	
	Hang_Seng____	21,277.28	▲	87.95	▲	0.41%	
	Strait_Times___	2,977.20	▲	34.48	▲	1.14%	

http://finance.yahoo.com/news/stocks-rise-fourth-day-row-201213088.html
*
Stocks rise for fourth day in a row, led by retail

A fourth straight gain for major indexes on Wall Street, led by retailers; technology slumps*

By Matthew Craft, AP Business Writer

Rite Aid, Ross Stores and other retailers surged Thursday after turning in better sales, and major stock market indexes rose for a fourth day straight.

The discount chain Ross Stores jumped 6 percent, the best gain in the Standard & Poor's 500 index. The company said stronger sales in March will likely push profits above its previous estimate this quarter. The stock jumped $3.56 to $63.80.

A surprising drop in claims for unemployment benefits last week gave investors more encouragement. Analysts said it could mean a slowdown in hiring last month may have been temporary.

"The numbers today make it seem like that March report was an anomaly," said David Heidl, a regional investment manager at U.S. Bank's wealth management unit. "It's another reason for optimism."

The Dow Jones industrial average gained 62.90 points to close at 14,865.14, an increase of 0.4 percent. The Standard & Poor's 500 index rose 5.64 points, also 0.4 percent, to 1,593.37.

Rite Aid soared 18 percent to $2.12 after the drugstore chain said higher sales of generic drugs and lower costs helped it post better earnings than analysts had expected.

Makers of computer hardware and software sank following a report that first-quarter shipments of PCs dropped 14 percent worldwide over the past year. That's the steepest fall since International Data Corp. started tracking the industry in 1994.

"The IDC report is much worse than anyone expected," said David Brown, director of Sabrient Systems, an investment research firm. "That's obviously shaking up the tech sector, but everything else is resuming the climb."

The three companies in the Dow that deal in PCs held the index back. Hewlett-Packard dropped 6 percent to $20.88, Microsoft lost 4 percent to $28.93 and Intel fell 2 percent to $21.82. Without them, the Dow would have gained 25 more points.

The tech-heavy Nasdaq composite index rose 2.90 points to 3,300.16. That's just 0.09 percent, far behind the Dow and S&P 500. Of the 10 industry groups in the S&P 500, information technology was the only one to fall.

It was a different story on Wednesday, when technology stocks surged on optimism that businesses would step up spending on computer systems. That pushed the Dow and the S&P 500 index to their third straight day of gains as well as record highs.

The stock market has soared this year, clearing record highs and recovering losses from the financial crisis and Great Recession. For the year, the Dow is up 13 percent, the S&P 500 index 12 percent.

Brown thinks the market can keep climbing. Measured against earnings, the stock market doesn't look expensive, he said. And compared to the alternatives, like bonds or money-market funds, stocks in many big corporations offer a better source of income. The average stock in the S&P 500 pays 2.2 percent in dividends.

By comparison, the yield on the benchmark 10-year Treasury note was 1.79 percent Thursday, down slightly from 1.80 percent late Wednesday.


----------



## CanOz

That S&P figure is not the main index, the value is wrong. Must be a sector....1300?


----------



## bigdog

CanOz said:


> That S&P figure is not the main index, the value is wrong. Must be a sector....1300?




*Thanks CanOz for advising me; my Excel sheet got really screwed up today
-- just about all data was wrong*

*My apologies and should have reported below*

 *The NYSE DOW closed  	HIGHER ▲	62.90	points or ▲	0.42%	Thursday, 11 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,865.14	▲	62.90	▲	0.42%	
	Nasdaq___	3,300.16	▲	2.91	▲	0.09%	
	S&P_500__	1,593.37	▲	5.64	▲	0.36%	
	30_Yr_Bond	2.998	▼	-0.01	▼	-0.23%	

NYSE Volume	3,682,254			 		 	
Nasdaq Volume	1,835,539			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,416.14	▲	28.77	▲	0.45%	
	DAX_____	7,871.63	▲	61.00	▲	0.78%	
	CAC_40__	3,775.66	▲	31.95	▲	0.85%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,010.30	▲	36.60	▲	0.74%	
	Shanghai_Comp	2,219.55	▼	-6.57	▼	-0.30%	
	Taiwan_Weight	7,857.98	▲	105.18	▲	1.36%	
	Nikkei_225____	13,549.16	▲	261.03	▲	1.96%	
	Hang_Seng____	22,101.27	▲	66.71	▲	0.30%	
	Strait_Times___	3,308.80	▲	15.55	▲	0.47%	
	NZX_50_Index__	4,409.54	▼	-10.52	▼	-0.24%


----------



## CanOz

No worries, didn't mean for the reply to be short Big Dog, i had just woke up and was on the my tablet. If i miss the news on the radio i always check our thread...very handy, Thanks for the great work!

Its appreciated!

CanOz


----------



## bigdog

Source: http://finance.yahoo.com 

A four-day surge in the stock market came to an end on Friday as falling commodity prices brought down energy and mining companies.

Signs of a slowing economy rattled commodity markets. The price of crude oil dropped 2 percent to $91 a barrel as weak U.S. economic reports followed forecasts for weaker oil demand.

Gold plunged $64 to $1,501 an ounce, reaching its lowest level since July 2011. Prices for other metals including silver and copper also fell sharply.

One trigger for the latest fall was a government report that U.S. wholesale prices declined the most in 10 months in March. Traders tend to sell metals when inflation wanes. They also pushed gold prices lower on reports that Cyprus may sell some of its gold reserves, possibly leading other weak European countries like Italy and Spain to do the same.

Compared to commodities markets, the stock market looked stable. The Dow Jones industrial average dropped just 0.08 of a point to close at 14,865.05. The Standard & Poor's 500 lost 4.52 points, or 0.3 percent, to 1,588.85.

The two major indexes finished the week with strong gains: The Dow rose 2.1 percent, the S&P 500 rose 2.3 percent.  The Nasdaq composite dropped 5.21 points to 3,289, a fall of 0.2 percent. 

David Joy, the chief market strategist for Ameriprise Financial, said it's as if the stock market is telling a different story from the bond and commodity markets. Copper and other industrial metals slid along with gold on Friday, while Treasury yields sank near their lows for the year. He said both imply traders in those markets are more worried about a slowdown.

"It gives me pause," Joy said. "Commodities and bonds are telling stock investors: don't be in such a hurry to say the U.S. economy is in great shape."

The sharp drop in gold futures tugged down mining companies. Barrick Gold lost 8 percent to $22.62, Newmont Mining fell 6 percent to $36.37 and Freeport-McMoRan 3 percent to $31.92. 

 *The NYSE DOW closed  	HIGHER ▲	-0.08	points or ▲	0.00%	Friday, 12 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,865.06	▼	-0.08	▲	0.00%	
	Nasdaq___	3,294.95	▼	-5.21	▼	-0.16%	
	S&P_500__	1,588.85	▼	-4.52	▼	-0.28%	
	30_Yr_Bond	2.918	▼	-0.08	▼	-2.67%	

NYSE Volume	3,560,801,250			 		 	
Nasdaq Volume	1,494,516,500			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,384.39	▼	-31.75	▼	-0.49%	
	DAX_____	7,744.77	▼	-126.86	▼	-1.61%	
	CAC_40__	3,729.30	▼	-46.36	▼	-1.23%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,016.00	▲	5.70	▲	0.11%	
	Shanghai_Comp	2,206.78	▼	-12.77	▼	-0.58%	
	Taiwan_Weight	7,821.63	▼	-36.35	▼	-0.46%	
	Nikkei_225____	13,485.14	▼	-64.02	▼	-0.47%	
	Hang_Seng____	22,089.05	▼	-12.22	▼	-0.06%	
	Strait_Times___	3,294.19	▼	-14.61	▼	-0.44%	
	NZX_50_Index__	4,435.77	▲	26.23	▲	0.59%	

http://finance.yahoo.com/news/stock...YzBGxhbmcDZW4tVVMEdGVzdANUZXN0X0FGQw--;_ylv=3

*Stocks end a four-day advance as energy slides**

Indexes fall on Wall Street after a four-day rise; energy stocks sink along with crude oil*

By Matthew Craft, AP Business Writer

A four-day surge in the stock market came to an end on Friday as falling commodity prices brought down energy and mining companies.

Signs of a slowing economy rattled commodity markets. The price of crude oil dropped 2 percent to $91 a barrel as weak U.S. economic reports followed forecasts for weaker oil demand.

Gold plunged $64 to $1,501 an ounce, reaching its lowest level since July 2011. Prices for other metals including silver and copper also fell sharply.

One trigger for the latest fall was a government report that U.S. wholesale prices declined the most in 10 months in March. Traders tend to sell metals when inflation wanes. They also pushed gold prices lower on reports that Cyprus may sell some of its gold reserves, possibly leading other weak European countries like Italy and Spain to do the same.

Compared to commodities markets, the stock market looked stable. The Dow Jones industrial average dropped just 0.08 of a point to close at 14,865.05. The Standard & Poor's 500 lost 4.52 points, or 0.3 percent, to 1,588.85.

The two major indexes finished the week with strong gains: The Dow rose 2.1 percent, the S&P 500 rose 2.3 percent.

David Joy, the chief market strategist for Ameriprise Financial, said it's as if the stock market is telling a different story from the bond and commodity markets. Copper and other industrial metals slid along with gold on Friday, while Treasury yields sank near their lows for the year. He said both imply traders in those markets are more worried about a slowdown.

"It gives me pause," Joy said. "Commodities and bonds are telling stock investors: don't be in such a hurry to say the U.S. economy is in great shape."

The sharp drop in gold futures tugged down mining companies. Barrick Gold lost 8 percent to $22.62, Newmont Mining fell 6 percent to $36.37 and Freeport-McMoRan 3 percent to $31.92.

Materials and energy stocks fell the most of the 10 industry groups in the S&P 500, 1.5 percent and 1.3 percent.

The Nasdaq composite dropped 5.21 points to 3,289, a fall of 0.2 percent.

A handful of reports out Friday heightened concerns about the economy's health. Sales at U.S. retailers fell in March and companies restocked their shelves at a much slower pace in February than in the month before. That's usually a sign that companies expect weaker spending from consumers and businesses. A measure of consumer sentiment from the University of Michigan also slumped.

The stock market has held up well despite a string of recent weak economic reports. That resilience has "left a lot of investors scratching their heads," said Lawrence Creatura, a fund manager at Federated Investors.

This earnings season will likely determine which direction the market takes, Creatura said. Next week, when Bank of America, Google and other big names turn in their quarterly results, could make the difference.

Wells Fargo reported stronger quarterly profits on Friday but its revenue fell short of Wall Street's forecasts. The bank's stock lost 1 percent to $37.21.

The weaker economic reports pushed traders into the safety of Treasurys, sending yield near their lows for the year. The yield on the 10-year Treasury note dropped to 1.72 percent from 1.79 percent late Thursday. That's close to its low point of the year, 1.69 percent, reached April 5.

Investors in the U.S stock market seem to be in the habit of brushing off worrying news this year, Creatura said. Recent threats from North Korea, for instance, have rattled South Korean markets, but any concerns about a war between the two countries have yet to shake any in the U.S.

South Korea may be the seventh-largest trading partner of the U.S., but most investors see North Korea's bellicose talk as more bluff, Creatura said. Everything could change, however, if war looked likely.

"We're following the situation," he said. "It's part of our job. But just because there hasn't been a reaction so far doesn't mean we'll overlook really bad news."

Among other companies making moves Friday:

”” M&T Bank lost 4 percent to $100.24. The bank said it had to delay its merger with Hudson City Bancorp after the Federal Reserve flagged the bank's compliance with money-laundering rules. Hudson City fell 6 percent to $8.29.

”” Evertec gained 2 percent in its first day as a publicly traded company. The payment processer raised more than $500 million in its initial public offering, with its shares priced at $20. Evertec's stock rose 44 cents to $20.44.

9620


----------



## bigdog

Source: http://finance.yahoo.com 

A steep fall in commodity prices led the stock market to its worst day this year on Monday, as worries about the global economy resurfaced.

The Dow Jones industrial average dropped 265 points, its biggest loss in five months.

The first trigger came from China. News that the world's second-largest economy slowed unexpectedly pummeled oil, copper and other commodities. In the stock market, companies that produce oil and mine for metals fared the worst. A slowdown in China, a huge importer of basic materials like copper, would stymie profits at those companies.

"The weak data out of China is spooking a lot of investors," said Dan Greenhaus, chief global strategist at the brokerage BTIG.

Oil prices hit their lowest level since mid-December, and gold plunged below $1,400 an ounce for the first time in two years as a sell-off in metals continued from last week. Concerns that Cyprus and other troubled European countries may sell gold to raise cash have also weighed on prices for precious metals, Greenhaus said.

The Dow lost 265.86 points to close at 14,599.20, a drop of 1.8 percent. Caterpillar, a maker of heavy equipment used by miners, led the Dow lower, falling 3 percent to $82.27. The Standard & Poor's 500 index slumped 36.48 points to 1,552.37, a loss of 2.3 percent.

It was the biggest drop for the stock market since Nov. 7 ”” Election Day ”” last year.

China's economy expanded 7.7 percent in the first three months of the year, well below forecasts of 8 percent or better. That news pummeled copper, oil and other commodities. Crude oil slid $2.58 to finish at $88.71 in New York trading

The plunge in commodity prices hit mining and energy stocks. Cliffs Natural Resources lost 8 percent to $17.61. Freeport-McMoRan Copper & Gold fell 8 percent to $29.27, the worst drop in the S&P 500. Analysts at Citigroup placed a "sell" rating on the mining giant on the expectation that copper prices will continue sliding.

Of the 10 industry groups in the S&P 500, materials and energy stocks fared the worst, losing 4 percent. Indexes of small companies and transportation stocks, which are more vulnerable to swings in the economy, also fell 4 percent.

The Nasdaq composite fell 78.46 points, or 2.4 percent, to 3,216.49.

Gold prices dropped $140 to $1,361 an ounce, a 9 percent fall. Gold has now slumped $203 an ounce over the past two days. 

 *The NYSE DOW closed  	LOWER ▼	-265.86	points or ▼	-1.79%	Monday, 15 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,599.20	▼	-265.86	▼	-1.79%	
	Nasdaq___	3,216.49	▼	-78.46	▼	-2.38%	
	S&P_500__	1,552.36	▼	-36.49	▼	-2.30%	
	30_Yr_Bond	2.882	▼	-0.04	▼	-1.23%	

NYSE Volume	5,276,216,000			 		 	
Nasdaq Volume	1,786,892,380			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,343.60	▼	-40.79	▼	-0.64%	
	DAX_____	7,712.63	▼	-32.14	▼	-0.41%	
	CAC_40__	3,710.48	▼	-18.82	▼	-0.50%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,966.80	▼	-49.20	▼	-0.98%	
	Shanghai_Comp	2,181.94	▼	-24.84	▼	-1.13%	
	Taiwan_Weight	7,763.53	▼	-58.10	▼	-0.74%	
	Nikkei_225____	13,275.66	▼	-209.48	▼	-1.55%	
	Hang_Seng____	21,772.67	▼	-316.38	▼	-1.43%	
	Strait_Times___	3,284.37	▼	-9.82	▼	-0.30%	
	NZX_50_Index__	4,454.71	▲	18.94	▲	0.43%	

*Stock market takes biggest drop this year

Dow Jones industrial average has its worst day this year as oil, other commodities plunge*

By Matthew Craft, AP Business Writer

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

A steep fall in commodity prices led the stock market to its worst day this year on Monday, as worries about the global economy resurfaced.

The Dow Jones industrial average dropped 265 points, its biggest loss in five months.

The first trigger came from China. News that the world's second-largest economy slowed unexpectedly pummeled oil, copper and other commodities. In the stock market, companies that produce oil and mine for metals fared the worst. A slowdown in China, a huge importer of basic materials like copper, would stymie profits at those companies.

"The weak data out of China is spooking a lot of investors," said Dan Greenhaus, chief global strategist at the brokerage BTIG.

Oil prices hit their lowest level since mid-December, and gold plunged below $1,400 an ounce for the first time in two years as a sell-off in metals continued from last week. Concerns that Cyprus and other troubled European countries may sell gold to raise cash have also weighed on prices for precious metals, Greenhaus said.

The Dow lost 265.86 points to close at 14,599.20, a drop of 1.8 percent. Caterpillar, a maker of heavy equipment used by miners, led the Dow lower, falling 3 percent to $82.27. The Standard & Poor's 500 index slumped 36.48 points to 1,552.37, a loss of 2.3 percent.

It was the biggest drop for the stock market since Nov. 7 ”” Election Day ”” last year.

China's economy expanded 7.7 percent in the first three months of the year, well below forecasts of 8 percent or better. That news pummeled copper, oil and other commodities. Crude oil slid $2.58 to finish at $88.71 in New York trading

The plunge in commodity prices hit mining and energy stocks. Cliffs Natural Resources lost 8 percent to $17.61. Freeport-McMoRan Copper & Gold fell 8 percent to $29.27, the worst drop in the S&P 500. Analysts at Citigroup placed a "sell" rating on the mining giant on the expectation that copper prices will continue sliding.

Of the 10 industry groups in the S&P 500, materials and energy stocks fared the worst, losing 4 percent. Indexes of small companies and transportation stocks, which are more vulnerable to swings in the economy, also fell 4 percent.

The Nasdaq composite fell 78.46 points, or 2.4 percent, to 3,216.49.

Gold prices dropped $140 to $1,361 an ounce, a 9 percent fall. Gold has now slumped $203 an ounce over the past two days.

Frank Fantozzi, CEO of Planned Financial Services, a wealth management firm, says people had bought gold since the financial crisis on the belief it was safe place to keep money. But now that the metal has slid 20 percent this year, they're jumping out.

"I think you're getting some panic selling right now" in the gold market, said Fantozzi. "People who have been holding on to gold expecting a rebound are now thinking, 'I better get out.'"

Cetin Ciner, a finance professor and expert in precious metal markets at the University of North Carolina, Wilmington, said others bought gold as a protection against rampant inflation when the economy recovered. They helped push gold prices as high at $1,900 in 2011. But the high inflation they worried about still hasn't hit.

Gold "was bound to collapse at some stage," Ciner said. "People were waiting and waiting for higher inflation, and they finally realized it's not happening."

Just seven stock rose in the S&P 500 on Monday. Among them, Citigroup inched up 9 cents to $45.87, after the country's third-largest bank reported earnings that beat analysts' estimates. Stronger revenue from trading and investment banking lifted the bank's results.

Sprint Nextel jumped after Dish Network offered $25 billion to buy the company. Dish's bid is aimed at beating an offer from the Japanese phone company SoftBank. Sprint surged 14 percent to $7.06, and Dish fell 2 percent to $36.77.

Thermo Fisher Scientific offered $13.6 billion to buy genetic testing equipment maker Life Technologies. That works out to $76 in cash for each share of Life Technologies. Thermo Fisher's stock fell 1 percent to $78.58, while Life Technologies rose 7 percent to $73.11.

In the market for U.S. government bonds, the yield on the 10-year Treasury note retreated to 1.69 percent, its lowest level of the year. That's down from 1.72 percent late Friday.

The last time the 10-year yield hit 1.69 percent was April 5, when the government reported that U.S. employers hired far fewer workers than expected in March.

People buy U.S. government bonds when they're concerned about the economy.


----------



## bigdog

Source: http://finance.yahoo.com 

Strong housing and earnings reports helped stocks rebound from their worst day of the year.

The Dow Jones industrial average rose 157.58 points, or 1.1 percent, on Tuesday, to 14,756.78, winning back more than half of the 265 points it lost a day earlier. The Standard & Poor's 500 index logged its second-best day of the year.

Home construction topped 1 million last month, the highest level since June 2008. Robust earnings from companies including Coca-Cola also propelled the market higher.

A recovery in housing and a pickup in hiring were major catalysts driving the stock market's surge early this year. The Dow and the S&P 500 jumped 11.3 percent and 10.3 percent, respectively, in the first three months of 2013.

That run-up was interrupted Monday when stocks had their biggest decline since November. Worries about an economic slowdown in China led to a drop in prices for oil, copper, and other commodities, causing mining and energy stocks to fall. The rally had already slowed earlier this month after reports of weak hiring and retail sales suggested that the economy was cooling off.

"This is the first time in a while that we've had pretty positive numbers," said JJ Kinahan, chief derivatives strategist for TD Ameritrade. "We had one bad day yesterday. You can't say because of that one bad day that all bets are off."

While Chinese growth fell short of expectations, Monday's sell-off may have been disproportionate to the slight slowdown in China's growth.

The world's second biggest economy still expanded at a rate of 7.7 percent in the first three months of the year, slowing from 7.9 percent the previous quarter and missing analysts' expectations by just 0.3 percentage points. China is watched closely because it is a major market for foreign goods from iron ore to smartphones. Investors hope demand from China can help offset weakness in the U.S., Europe and Japan.

Mining companies rose Tuesday as commodities markets stabilized and materials stocks gained the most of the 10 industry groups in the S&P 500 after leading the market lower the day before. Home builders advanced following the housing report. PulteGroup rose 4.2 percent to $18.60 and Lennar climbed 2.4 percent to $38.70.

The S&P 500 climbed 22.2 points, or 1.4 percent, to 1,574.57. It was the biggest gain since Jan. 2, when stocks rallied after lawmakers reached a last-minute deal to stop a series of sweeping tax hikes and spending cuts from taking effect.

Gold, which was at the epicenter of Monday's sell-off, rose 1.9 percent to $1,387.40 an ounce.  						

 *The NYSE DOW closed  	HIGHER ▲	157.58	points or ▲	1.08%	Tuesday, 16 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,756.78	▲	157.58	▲	1.08%	
	Nasdaq___	3,264.63	▲	48.14	▲	1.50%	
	S&P_500__	1,574.57	▲	22.21	▲	1.43%	
	30_Yr_Bond	2.903	▲	0.02	▲	0.73%	

NYSE Volume	4,068,788,500			 		 	
Nasdaq Volume	1,520,542,250			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,304.58	▼	-39.02	▼	-0.62%	
	DAX_____	7,682.58	▼	-30.05	▼	-0.39%	
	CAC_40__	3,685.79	▼	-24.69	▼	-0.67%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,944.10	▼	-22.70	▼	-0.46%	
	Shanghai_Comp	2,194.85	▲	12.90	▲	0.59%	
	Taiwan_Weight	7,801.05	▲	37.52	▲	0.48%	
	Nikkei_225____	13,221.44	▼	-54.22	▼	-0.41%	
	Hang_Seng____	21,672.03	▼	-100.64	▼	-0.46%	
	Strait_Times___	3,291.58	▲	7.21	▲	0.22%	
	NZX_50_Index__	4,427.84	▼	-26.87	▼	-0.60%	



http://finance.yahoo.com/news/stock-market-rebounds-worst-day-145107484.html

*Stock market rebounds from worst day of the year

Wall Street rebounds from its biggest drop of the year on housing, earnings; S&P 500 surges*

By Steve Rothwell, AP Markets Writer

Strong housing and earnings reports helped stocks rebound from their worst day of the year.

The Dow Jones industrial average rose 157.58 points, or 1.1 percent, on Tuesday, to 14,756.78, winning back more than half of the 265 points it lost a day earlier. The Standard & Poor's 500 index logged its second-best day of the year.

Home construction topped 1 million last month, the highest level since June 2008. Robust earnings from companies including Coca-Cola also propelled the market higher.

A recovery in housing and a pickup in hiring were major catalysts driving the stock market's surge early this year. The Dow and the S&P 500 jumped 11.3 percent and 10.3 percent, respectively, in the first three months of 2013.

That run-up was interrupted Monday when stocks had their biggest decline since November. Worries about an economic slowdown in China led to a drop in prices for oil, copper, and other commodities, causing mining and energy stocks to fall. The rally had already slowed earlier this month after reports of weak hiring and retail sales suggested that the economy was cooling off.

"This is the first time in a while that we've had pretty positive numbers," said JJ Kinahan, chief derivatives strategist for TD Ameritrade. "We had one bad day yesterday. You can't say because of that one bad day that all bets are off."

While Chinese growth fell short of expectations, Monday's sell-off may have been disproportionate to the slight slowdown in China's growth.

The world's second biggest economy still expanded at a rate of 7.7 percent in the first three months of the year, slowing from 7.9 percent the previous quarter and missing analysts' expectations by just 0.3 percentage points. China is watched closely because it is a major market for foreign goods from iron ore to smartphones. Investors hope demand from China can help offset weakness in the U.S., Europe and Japan.

Mining companies rose Tuesday as commodities markets stabilized and materials stocks gained the most of the 10 industry groups in the S&P 500 after leading the market lower the day before. Home builders advanced following the housing report. PulteGroup rose 4.2 percent to $18.60 and Lennar climbed 2.4 percent to $38.70.

The S&P 500 climbed 22.2 points, or 1.4 percent, to 1,574.57. It was the biggest gain since Jan. 2, when stocks rallied after lawmakers reached a last-minute deal to stop a series of sweeping tax hikes and spending cuts from taking effect.

Gold, which was at the epicenter of Monday's sell-off, rose 1.9 percent to $1,387.40 an ounce.

The precious metal logged its steepest fall in 30 years Monday, plunging 9 percent. Gold had been drifting lower since the start of the year and the decline accelerated Friday after the government reported a drop in inflation. People often buy gold when they're fearful of rising prices and sell it when they see inflation ebbing.

Gold is down 27 percent since it climbed to a record in August 2011, when lawmakers wrangled over raising the debt ceiling and threatened to push the U.S. into default.

Investors should expect a more volatile stock market until there is more confirmation that the economy is strengthening and the outlook for companies is improving, said Jeff Morris, head of U.S. equities at Standard Life Investment.

"Until we get evidence of more robust conditions in the second half we're going to be in more of a sideways market," said Morris. "You saw a fairly dramatic move yesterday; that's indicative of a market that's not quite sure of which direction to go."

While the Dow is up this month, the pace of gains is slowing and the index is on track to log its weakest month of the year. The Dow has risen 1.2 percent in the first two weeks of April, compared to an average monthly gain of 3.6 percent in the first quarter.

Small company stocks rose more than the broader market Tuesday, a sign that investors are moving money into riskier assets. The Russell 2000 index climbed or 1.8 percent to 922.30. That's a reversal from the day before, when the index plunged 3.8 percent.

In other trading, the Nasdaq composite rose 48.14 points, or 1.5 percent, to 3,264.63.

Yields on U.S. government bonds rose as investors moved money out of safe-haven investments. The yield on the benchmark 10-year Treasury note climbed to 1.72 percent from 1.68 percent.

Among stocks that made big moves:

Coca-Cola gained $2.28, or 5.7 percent, to $42.37 after its first-quarter results came in above Wall Street's forecasts. Coke said it struck a deal to start refranchising its business in the U.S., which will lower costs.

W.W. Grainger Inc., which sells power tools and other industrial equipment, rose $16.18, or 16.2 percent, to $241.88 after the company said its first-quarter net income climbed 13 percent.

U.S. Bancorp logged the biggest decline in the S&P 500. The lender dropped 59 cents, or 1.8 percent, to $32.72 after it reported first-quarter earnings that fell short of analysts' expectations. The Minneapolis bank's net income rose 7 percent to $1.43 billion as it set aside less cash to cover soured loans.

Whirlpool Corp. jumped $3.66 to $116.78 after the appliance maker raised its quarterly dividend 25 percent to 62.5 cents.


----------



## bigdog

Source: http://finance.yahoo.com 

As evidence of a slowing global economy grows, investors are showing some caution just one week after U.S. stocks hit an all-time high.

Stocks fell after lackluster earnings from Bank of America and an apparent drop in demand for Apple's iPod and iPhone dragged financial and technology stocks lower. New signs of weakness in Europe, where car sales are plunging and unemployment is rising, also weighed on the market.

On Monday, stocks sank after China reported economic growth that was slower than economists had expected. Metals, energy and other commodities have been hit hard this week and that has dragged down the stocks of miners and drillers and companies that provide services to them. Gold fell the most in 30 years.

The Dow Jones Industrial average fell 138 points, or 0.9 percent, to 14,618.59 Wednesday, wiping out most of the gain it made Tuesday. The Dow, which reached an all-time high of 14,865 last Thursday, is down 1.7 percent this week after slumping 265 points on Monday.

The Standard & Poor's 500 index dropped 22 points, or 1.4 percent, to 1,553 and is 2.2 percent lower since the opening bell on Monday. The S&P is 2.5 percent below its all-time high of 1,593.

Energy companies and miners fell as commodity prices extended their declines.

The price of crude oil dropped for the fourth day in five, falling 2.3 percent to $86.68 per barrel, based on expectations that global demand will fall. Copper fell to an 18-month low of $3.19 a pound.

As stock prices sank, investors sought the safety of bonds. The yield on the 10-year Treasury note, which moves inversely to its price, fell to 1.70 percent from 1.73 percent. It went as low as 1.68 percent, matching its lowest level of the year.

Despite the big drops this week, the Dow is still 11.6 percent higher this year, the S&P 500 index 8.8 percent. And while falling energy prices may hurt energy stocks now, in the long run they should put more money into the pockets of consumers and drive spending.

Stocks surged during the first three months of the year on optimism that a recovery in the housing market would boost the economy. But the stock market has struggled this month. Reports of weak hiring and retail sales suggested the economy may be cooling off. 

 *The NYSE DOW closed  	LOWER ▼	-138.19	points or ▼	-0.94%	Wednesday, 17 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,618.59	▼	-138.19	▼	-0.94%	
	Nasdaq___	3,204.67	▼	-59.96	▼	-1.84%	
	S&P_500__	1,552.01	▼	-22.56	▼	-1.43%	
	30_Yr_Bond	2.886	▼	-0.02	▼	-0.59%	

NYSE Volume	4,808,744,500			 		 	
Nasdaq Volume	1,911,748,380			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,244.21	▼	-60.37	▼	-0.96%	
	DAX_____	7,503.03	▼	-179.55	▼	-2.34%	
	CAC_40__	3,599.23	▼	-86.56	▼	-2.35%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,993.60	▲	49.50	▲	1.00%	
	Shanghai_Comp	2,193.80	▼	-1.05	▼	-0.05%	
	Taiwan_Weight	7,809.07	▲	8.02	▲	0.10%	
	Nikkei_225____	13,382.89	▲	161.45	▲	1.22%	
	Hang_Seng____	21,569.67	▼	-102.36	▼	-0.47%	
	Strait_Times___	3,291.51	▼	-0.07	▲	0.00%	
	NZX_50_Index__	4,478.27	▲	50.43	▲	1.14%	

http://finance.yahoo.com/news/stocks-fall-signs-slowing-global-194841257.html

*Stocks fall on signs of slowing global economy

Investors turn cautious just one week after the stock market hit an all-time high, Dow off 138*

By Steve Rothwell, AP Markets Writer

As evidence of a slowing global economy grows, investors are showing some caution just one week after U.S. stocks hit an all-time high.

Stocks fell after lackluster earnings from Bank of America and an apparent drop in demand for Apple's iPod and iPhone dragged financial and technology stocks lower. New signs of weakness in Europe, where car sales are plunging and unemployment is rising, also weighed on the market.

On Monday, stocks sank after China reported economic growth that was slower than economists had expected. Metals, energy and other commodities have been hit hard this week and that has dragged down the stocks of miners and drillers and companies that provide services to them. Gold fell the most in 30 years.

The Dow Jones Industrial average fell 138 points, or 0.9 percent, to 14,618.59 Wednesday, wiping out most of the gain it made Tuesday. The Dow, which reached an all-time high of 14,865 last Thursday, is down 1.7 percent this week after slumping 265 points on Monday.

The Standard & Poor's 500 index dropped 22 points, or 1.4 percent, to 1,553 and is 2.2 percent lower since the opening bell on Monday. The S&P is 2.5 percent below its all-time high of 1,593.

Energy companies and miners fell as commodity prices extended their declines.

The price of crude oil dropped for the fourth day in five, falling 2.3 percent to $86.68 per barrel, based on expectations that global demand will fall. Copper fell to an 18-month low of $3.19 a pound.

As stock prices sank, investors sought the safety of bonds. The yield on the 10-year Treasury note, which moves inversely to its price, fell to 1.70 percent from 1.73 percent. It went as low as 1.68 percent, matching its lowest level of the year.

Despite the big drops this week, the Dow is still 11.6 percent higher this year, the S&P 500 index 8.8 percent. And while falling energy prices may hurt energy stocks now, in the long run they should put more money into the pockets of consumers and drive spending.

Stocks surged during the first three months of the year on optimism that a recovery in the housing market would boost the economy. But the stock market has struggled this month. Reports of weak hiring and retail sales suggested the economy may be cooling off.

"You've had numerous economic data points that have been, not really disastrous, but not really as robust as people might like," said Cam Albright, director of asset allocation at Wilmington Trust Investment Advisors. "When you have a market as extended as this, you almost need perfect information to make it continue to go up."

Reports this week have added to a picture of slowing global growth.

New car sales in Europe fell 10 percent in the first quarter, the European automakers association said Wednesday, as high unemployment saps demand for big purchases. Britain said Wednesday that unemployment rose to 7.9 percent during the three months ending in February, an increase of 0.2 percent from the previous three months.

On Tuesday, the International Monetary Fund lowered its outlook for global growth this year to 3.3 percent from 3.5 percent, saying government spending cuts will slow the U.S. and European economies. And on Monday China said its economic growth slowed in the first three months of the year to 7.7 percent, below the 8 percent level anticipated by markets.

Bank of America fell 4.7 percent to $11.70, leading a broad decline in financial stocks, after reporting a first quarter profit of $2.3 billion that fell short of analysts' expectations.

Technology stocks also fell sharply, led by Apple. The Nasdaq composite index fell 59.96 points, or 1.8 percent, to 3,204. Apple, which makes up 8 percent of the index, slumped 5.5 percent to $402.80, after a supplier hinted at a slowdown in iPhone and iPad production.

Corporate earnings for the first quarter suggest that growth has been slow and steady, rather than robust as investors had hoped, said Kevin Mahn, president of Hennion and Walsh Asset Management. Consumers and businesses are still reluctant to ratchet up spending.

"We're moving ahead, but begrudgingly and very slowly," said Mahn, "I don't think that the plow horse is going to start stepping backwards but it certainly doesn't have the capacity to start speeding up, at least right now."

Analysts expect first-quarter earnings to rise by 1.6 percent, compared with growth of 7.7 percent in the fourth quarter, according to data from S&P Capital IQ. So far, 56 companies have reported earnings this year and 35 have beaten expectations.

Stocks stayed lower Wednesday even after the Federal Reserve reported that a strengthening housing recovery and robust auto sales contributed to moderate economic growth across the United States in late February and March.

Among other stocks making big moves, Textron, a maker of small aircraft, plunged $3.94, or 14 percent, to $25.41 after the company cut its outlook for business jet deliveries. Fairway climbed 34 percent to $17.35 on its stock market debut, even after the grocery store chain priced its initial public offering above expectations.

Gold edged lower Wednesday, falling $4.70, or 0.3 percent, to $1,382.70 an ounce. The metal has stabilized after dropping $140 an ounce, or 9 percent, on Monday.


----------



## bigdog

Source: http://finance.yahoo.com 

Disappointing earnings from a range of companies pushed the stock market lower on Thursday, giving major indexes their third loss this week.

The stock prices of Morgan Stanley, UnitedHealth Group and others sank after they turned in weaker quarterly results. Prices of commodities held steady following a wild couple of days. Government bond yields remained near their lowest point of the year as investors sought safety.

The Standard & Poor's 500 index lost 10.40 points to close at 1,541.61, a decline of 0.7 percent.

Compared with the steep drops earlier this week, the losses on Thursday looked tame. The S&P 500 lost 2 percent on Monday, its worst day of the year, when a slowdown in China's economic growth set off a rout in prices for gold, oil and other commodities and pummeled the stocks of companies that make them. After reaching a record high a week ago, the index has now slumped 3 percent.

One reason behind the market's sudden turn might simply be that investors wanted to take some of their winnings off the table, said Joseph Tanious, global market strategist at J.P. Morgan Funds. At the start of April, the S&P 500 was already up 10 percent for 2013, more than investors can expect to get in most years.

"For a while there, it seemed like all the headlines were 'stock market hits all-time high,'" Tanious said. "When they see things like that, investors get nervous and look for reasons to sell." 

Analysts have set a low bar for first-quarter earnings. They predict that companies in the S&P 500 will report that earnings climbed just 1.5 percent in the first quarter compared with the same period a year ago, a slowdown from the 7.7 percent growth in the fourth quarter, according to S&P Capital IQ.

So far, companies are easily topping the estimates of Wall Street analysts. Of the 61 companies that turned in results through Wednesday, 39 of them have exceeded forecasts.

The Dow Jones industrial average fell 81.45 points to 14,537.14, down 0.6 percent. The Nasdaq composite lost 38.31 points to 3,166.36, down 1.2 percent.

In the market for U.S. government bonds, Treasury prices rose and their yields fell as traders moved money into low-risk assets. The yield on the 10-year Treasury note slipped back to 1.68 percent, matching its lowest level of the year. The yield was 1.70 percent late Wednesday. 

 *The NYSE DOW closed  	LOWER ▼	-81.45	points or ▼	-0.56%	Thursday, 18 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,537.14	▼	-81.45	▼	-0.56%	
	Nasdaq___	3,166.36	▼	-38.31	▼	-1.20%	
	S&P_500__	1,541.61	▼	-10.40	▼	-0.67%	
	30_Yr_Bond	2.864	▼	-0.02	▼	-0.76%	

NYSE Volume	4,382,134,000			 		 	
Nasdaq Volume	1,771,593,620			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,243.67	▼	-0.54	▼	-0.01%	
	DAX_____	7,473.73	▼	-29.30	▼	-0.39%	
	CAC_40__	3,599.36	▲	0.13	▲	0.00%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,911.30	▼	-82.30	▼	-1.65%	
	Shanghai_Comp	2,197.60	▲	3.81	▲	0.17%	
	Taiwan_Weight	7,791.35	▼	-17.72	▼	-0.23%	
	Nikkei_225____	13,220.07	▼	-162.82	▼	-1.22%	
	Hang_Seng____	21,512.52	▼	-57.15	▼	-0.26%	
	Strait_Times___	3,295.94	▲	4.48	▲	0.14%	
	NZX_50_Index__	4,442.10	▼	-36.16	▼	-0.81%	

http://finance.yahoo.com/news/stock-market-slips-weak-earnings-210838789.html

*Stock market slips on weak earnings

Stock indexes slip for third day this week; UnitedHealth, eBay lower after earnings*

By Matthew Craft, AP Business Writer 

Disappointing earnings from a range of companies pushed the stock market lower on Thursday, giving major indexes their third loss this week.

The stock prices of Morgan Stanley, UnitedHealth Group and others sank after they turned in weaker quarterly results. Prices of commodities held steady following a wild couple of days. Government bond yields remained near their lowest point of the year as investors sought safety.

The Standard & Poor's 500 index lost 10.40 points to close at 1,541.61, a decline of 0.7 percent.

Compared with the steep drops earlier this week, the losses on Thursday looked tame. The S&P 500 lost 2 percent on Monday, its worst day of the year, when a slowdown in China's economic growth set off a rout in prices for gold, oil and other commodities and pummeled the stocks of companies that make them. After reaching a record high a week ago, the index has now slumped 3 percent.

One reason behind the market's sudden turn might simply be that investors wanted to take some of their winnings off the table, said Joseph Tanious, global market strategist at J.P. Morgan Funds. At the start of April, the S&P 500 was already up 10 percent for 2013, more than investors can expect to get in most years.

"For a while there, it seemed like all the headlines were 'stock market hits all-time high,'" Tanious said. "When they see things like that, investors get nervous and look for reasons to sell."

Profit slipped at Morgan Stanley as the bank made less money from trading bonds and commodities, a common theme for many investment banks this earnings season. Morgan Stanley lost 5 percent to $20.31.

UnitedHealth's profit fell short of analysts' estimates, and the country's largest health insurer said it expects federal budget cuts to pressure its earnings this year. Its stock lost 4 percent to $59.69.

EBay fell 6 percent to $52.82 after the online auction company cut its profit forecast for this quarter.

The market didn't get any help from economic news Thursday. Investors pointed to reports that more people applied for unemployment benefits last week and manufacturing slowed in the mid-Atlantic region. Those reports followed several recent signs of weakness in the economy, including a sharp slowdown in hiring last month and poor retail sales.

The market's drop was tempered by better profits at Verizon, Pepsi and Union Pacific. Verizon Communications' profit beat analysts' predictions as wireless revenue kept rising at a rate of 9 percent, the envy of the industry. Pepsi net income and revenue also surpassed estimates.

Verizon's stock gained 3 percent to $50.91, while Pepsi's climbed 3 percent to $81.25.

Higher shipping rates pushed Union Pacific's profit up 11 percent, and the railroad said it expects to ship more goods later this year. Union Pacific rose 4 percent to $142.46.

Analysts have set a low bar for first-quarter earnings. They predict that companies in the S&P 500 will report that earnings climbed just 1.5 percent in the first quarter compared with the same period a year ago, a slowdown from the 7.7 percent growth in the fourth quarter, according to S&P Capital IQ.

So far, companies are easily topping the estimates of Wall Street analysts. Of the 61 companies that turned in results through Wednesday, 39 of them have exceeded forecasts.

The Dow Jones industrial average fell 81.45 points to 14,537.14, down 0.6 percent. The Nasdaq composite lost 38.31 points to 3,166.36, down 1.2 percent.

In the market for U.S. government bonds, Treasury prices rose and their yields fell as traders moved money into low-risk assets. The yield on the 10-year Treasury note slipped back to 1.68 percent, matching its lowest level of the year. The yield was 1.70 percent late Wednesday.

Commodities prices held steady following sharp falls earlier this week. Crude oil rose $1.05 to $87.73 a barrel and gold edged up $9.80 to $1,392.50 an ounce.

Crude had lost $10 a barrel over the past two weeks as the outlook for the global economy weakened and oil supplies remained high. On Monday, Gold fell 9 percent, its biggest plunge in 30 years, as inflation in the U.S. remained weak.

"Earnings are always important," said Randy Frederick, managing director of active trading and derivatives at the brokerage Charles Schwab. "But this week they've taken a back seat to all the other headlines, like slower growth in China, the sharp sell-off in gold and then the bombing in Boston."

For the week, the Dow is down 2.2 percent and the S&P 500 is down 2.9 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

Strong earnings from a pair of technology giants helped the stock market recover some of its losses Friday, a positive end to Wall Street's worst week in five months.

Microsoft and Google both beat earnings expectations, yields of government bonds ticked up and copper ”” a key industrial metal ”” continued its fall, losing 2 percent.

Microsoft gained 3 percent to $29.77, leading the Dow Jones industrial average higher. The software giant reported earnings late Thursday that beat analysts' forecasts and showed solid results from its Office, software tools and Xbox divisions.

Google's stock climbed 3 percent to $799.87. The leader in Internet search boosted prices for ads distributed to smartphones and tablet computers.

The Standard & Poor's 500 index rose 13.64 points to 1,555.25, an increase of 0.9 percent. The Dow rose 10.37 points to 14,547.51, a gain of 0.1 percent. The Dow spent most of the day down, pulled lower by disappointing results from IBM.

Traders, like everyone else, were following the news out of Boston, where police were hunting for one of two brothers suspected to be behind Monday's Boston Marathon bombings. One brother was killed in a gun battle with police overnight. But the news had no impact on markets, traders said.

Friday's slight gains couldn't overcome a tough week for the market, when both the S&P 500 and the Dow lost 2.1 percent. That's their biggest weekly drop since last November.

"Compared to the rest of the week, it looks like we're going to slide into the weekend on a quiet note," said Jim Baird, Partner and Chief Investment Officer for Plante Moran Financial Advisors

By many measures, the financial markets have endured a rough five days. News that economic growth had slowed in China set off a plunge in commodity prices on Monday, leading the stock market to its worst day of the year. Gold dropped below $1,400 an ounce for the first time in two years.

The stock market bounced back the next day, then fell again on Wednesday, its third worst day this year. 

 *The NYSE DOW closed  	HIGHER ▲	10.37	points or ▲	0.07%	Friday, 19 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,547.51	▲	10.37	▲	0.07%	
	Nasdaq___	3,206.06	▲	39.70	▲	1.25%	
	S&P_500__	1,555.25	▲	13.64	▲	0.88%	
	30_Yr_Bond	2.882	▲	0.02	▲	0.63%	

NYSE Volume	3,908,988,500			 		 	
Nasdaq Volume	1,753,877,620			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,286.59	▲	42.92	▲	0.69%	
	DAX_____	7,459.96	▼	-13.77	▼	-0.18%	
	CAC_40__	3,651.96	▲	52.60	▲	1.46%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,923.00	▲	11.70	▲	0.24%	
	Shanghai_Comp	2,244.64	▲	47.04	▲	2.14%	
	Taiwan_Weight	7,930.80	▲	139.45	▲	1.79%	
	Nikkei_225____	13,316.48	▲	96.41	▲	0.73%	
	Hang_Seng____	22,013.57	▲	501.05	▲	2.33%	
	Strait_Times___	3,294.05	▼	-2.32	▼	-0.07%	
	NZX_50_Index__	4,444.50	▲	2.40	▲	0.05%	

http://finance.yahoo.com/news/stocks-recover-slightly-ending-tough-211439760.html

*Stocks recover slightly, ending tough week

Stock indexes end worst week in 5 months with gains; Microsoft leads Dow Jones average up*

By Matthew Craft, AP Business Writer

Strong earnings from a pair of technology giants helped the stock market recover some of its losses Friday, a positive end to Wall Street's worst week in five months.

Microsoft and Google both beat earnings expectations, yields of government bonds ticked up and copper ”” a key industrial metal ”” continued its fall, losing 2 percent.

Microsoft gained 3 percent to $29.77, leading the Dow Jones industrial average higher. The software giant reported earnings late Thursday that beat analysts' forecasts and showed solid results from its Office, software tools and Xbox divisions.

Google's stock climbed 3 percent to $799.87. The leader in Internet search boosted prices for ads distributed to smartphones and tablet computers.

The Standard & Poor's 500 index rose 13.64 points to 1,555.25, an increase of 0.9 percent. The Dow rose 10.37 points to 14,547.51, a gain of 0.1 percent. The Dow spent most of the day down, pulled lower by disappointing results from IBM.

Traders, like everyone else, were following the news out of Boston, where police were hunting for one of two brothers suspected to be behind Monday's Boston Marathon bombings. One brother was killed in a gun battle with police overnight. But the news had no impact on markets, traders said.

Friday's slight gains couldn't overcome a tough week for the market, when both the S&P 500 and the Dow lost 2.1 percent. That's their biggest weekly drop since last November.

"Compared to the rest of the week, it looks like we're going to slide into the weekend on a quiet note," said Jim Baird, Partner and Chief Investment Officer for Plante Moran Financial Advisors

By many measures, the financial markets have endured a rough five days. News that economic growth had slowed in China set off a plunge in commodity prices on Monday, leading the stock market to its worst day of the year. Gold dropped below $1,400 an ounce for the first time in two years.

The stock market bounced back the next day, then fell again on Wednesday, its third worst day this year.

Most big corporations have managed to beat analysts' low expectations for first-quarter profits. Of the 104 companies that turned in results through Friday morning, 70 have trumped forecasts, according to S&P Capital IQ.

Analysts estimate that earnings for companies in the S&P 500 inched up just 2 percent over the previous year, a slowdown from the 7.7 percent rise in the fourth quarter of 2012.

Next week marks another big week for earnings as 10 members of the Dow and 181 companies in the S&P 500 report results.

On Friday, IBM fell 8 percent to an even $190. Quarterly earnings for the country's largest provider of computer services fell short of forecasts for the first time since 2005. IBM said delays in closing several large software and mainframe computer deals hindered sales.

Chipotle Mexican Grill surged 12 percent to $366.25, the best gain in the S&P 500. Chipotle's results easily topped Wall Street expectations late Thursday as the burrito-maker said new restaurants drove sales higher.

The Nasdaq composite index gained 39.69 points to 3,206.06, up 1.3 percent.

In the market for U.S. government bonds, Treasury prices slipped, nudging yields up from their lowest levels of the year. The yield on the 10-year Treasury note inched up to 1.70 percent from 1.68 percent late Thursday.

Traders cautiously returned to buying certain key commodities on Friday, including gold and oil, after big sell-offs earlier this week. But copper continued its fall, losing 2 percent to $3.16 per pound.

Rex Macey, the chief investment officer at the Wilmington Trust Investment Advisors, said markets are bound to encounter turbulence as long as the economy continues to advance at a slow pace. Forecasts say the U.S. economy will expand 2 percent this year. In practice, Macey said, that means there will be times when the economy looks ready to stall and others when it looks ready to steam ahead.

"You'll hear that Europe's in trouble again and we'll get a pullback in the market," Macey said. "Then you'll go through periods when we're off to the races again. I say, 'Get used to it.'"

Even after a rough week, Macey and others said the basic storyline for investors hasn't changed. The economy and corporate profits are still headed in the right direction. And as long as that's true, the stock market will follow their lead.

"We're going to have a stronger 2013 than 2012," said Joseph Tanious, the global market strategist at J.P. Morgan Funds. "But the recovery is going to be much more bumpy than people thought."

Among other companies making big moves:

”” SeaWorld Entertainment soared in its first day of trading as a public company. The theme park operator raised $702 million in its initial public offering, with the bulk of the money going to the Blackstone Group, the private equity firm that still controls the company. SeaWorld's stock jumped 24 percent to $33.52, up from its IPO price of $27.

”” Dell sank 4 percent to $13.40 following news that the Blackstone Group withdrew its bid to buy the computer maker. That left Dell with two remaining bidders: a group led by Michael Dell, the company's founder and CEO, and Carl Icahn, the well-known investor.

9988


----------



## bigdog

Source: http://finance.yahoo.com 

Investors remained cautious at the start of a big week for company earnings on Wall Street.

About a third of the companies in the Standard & Poor's 500 index, including Exxon Mobil and Apple, are reporting earnings this week. Analysts currently expect earnings to rise by 2 percent in the first quarter, down from the 7.7 percent increase in the fourth quarter, according to S&P Capital IQ.

While the majority of companies that have reported earnings so far have beaten investors' expectations, concerns remain about the outlook for revenues for the rest of the year. Earnings forecast may need to be revised lower if the global economy doesn't improve.

"Most of the companies seem to be coming in ahead of earnings expectations, but the thing that's still problematic is the revenue line," said Bill Stone, chief investment strategist at PNC Wealth Management. "To me it's just symptomatic of the global economy continuing to sputter along."

On Monday, the Dow Jones industrial average edged higher as energy stocks got a lift from recovering oil prices and investors focused on results from a key industry player.

The energy industry climbed 1 percent, making it the biggest gainer in the Standard & Poor's 500 index. Oil rose 75 cents, or 0.9 percent, to $88.76 a barrel Monday. A week ago, crude fell below $90 a barrel for the first time this year after reports that China's economic growth slowed.

Oil services company Halliburton also gained after its loss wasn't as bad as analysts had forecast. Halliburton rose $1.75 to $38.96 after it said that it lost $18 million in the first quarter, pulled down by $637 million in charges related to its role in the 2010 Gulf of Mexico oil spill.

Netflix surged 23 percent to $214.19 in after-hours trading after the company reported that it added 2 million U.S. subscribers to its video streaming service during the first three months of the year. Netflix took a gamble by adding original programming to its service including the critically acclaimed series "House of Cards" in February.

The Dow rose 19.66 points, or 0.1 percent, to 14,567.17. The Standard & Poor's 500 index closed up 7.25 points, or 0.5 percent, higher at 1,562.50.

The stock market was coming off its biggest weekly drop since November. Last week the S&P 500 and the Dow each lost 2.1 percent, paring their advances after a strong start to the year. 

 *The NYSE DOW closed  	HIGHER ▲	19.66	points or ▲	0.14%	Monday, 22 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,567.17	▲	19.66	▲	0.14%	
	Nasdaq___	3,233.55	▲	27.49	▲	0.86%	
	S&P_500__	1,562.50	▲	7.25	▲	0.47%	
	30_Yr_Bond	2.880	▼	0.00	▼	-0.07%	

NYSE Volume	3,304,266,250			 		 	
Nasdaq Volume	1,632,054,380			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,280.62	▼	-5.97	▼	-0.09%	
	DAX_____	7,478.11	▲	18.15	▲	0.24%	
	CAC_40__	3,652.13	▲	0.17	▲	0.00%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,955.40	▲	32.40	▲	0.66%	
	Shanghai_Comp	2,242.17	▼	-2.47	▼	-0.11%	
	Taiwan_Weight	7,970.38	▲	39.58	▲	0.50%	
	Nikkei_225____	13,568.37	▲	251.89	▲	1.89%	
	Hang_Seng____	22,044.37	▲	30.80	▲	0.14%	
	Strait_Times___	3,307.13	▲	13.08	▲	0.40%	
	NZX_50_Index__	4,483.66	▲	39.16	▲	0.88%	

http://finance.yahoo.com/news/stocks-edge-higher-energy-stocks-194808304.html

*Stocks edge higher as energy stocks rebound**

Dow and S&P 500 edge higher as energy stocks rebound; investors wait on earnings*

By Steve Rothwell, AP Markets Writer

Investors remained cautious at the start of a big week for company earnings on Wall Street.

About a third of the companies in the Standard & Poor's 500 index, including Exxon Mobil and Apple, are reporting earnings this week. Analysts currently expect earnings to rise by 2 percent in the first quarter, down from the 7.7 percent increase in the fourth quarter, according to S&P Capital IQ.

While the majority of companies that have reported earnings so far have beaten investors' expectations, concerns remain about the outlook for revenues for the rest of the year. Earnings forecast may need to be revised lower if the global economy doesn't improve.

"Most of the companies seem to be coming in ahead of earnings expectations, but the thing that's still problematic is the revenue line," said Bill Stone, chief investment strategist at PNC Wealth Management. "To me it's just symptomatic of the global economy continuing to sputter along."

On Monday, the Dow Jones industrial average edged higher as energy stocks got a lift from recovering oil prices and investors focused on results from a key industry player.

The energy industry climbed 1 percent, making it the biggest gainer in the Standard & Poor's 500 index. Oil rose 75 cents, or 0.9 percent, to $88.76 a barrel Monday. A week ago, crude fell below $90 a barrel for the first time this year after reports that China's economic growth slowed.

Oil services company Halliburton also gained after its loss wasn't as bad as analysts had forecast. Halliburton rose $1.75 to $38.96 after it said that it lost $18 million in the first quarter, pulled down by $637 million in charges related to its role in the 2010 Gulf of Mexico oil spill.

Netflix surged 23 percent to $214.19 in after-hours trading after the company reported that it added 2 million U.S. subscribers to its video streaming service during the first three months of the year. Netflix took a gamble by adding original programming to its service including the critically acclaimed series "House of Cards" in February.

The Dow rose 19.66 points, or 0.1 percent, to 14,567.17. The Standard & Poor's 500 index closed up 7.25 points, or 0.5 percent, higher at 1,562.50.

The stock market was coming off its biggest weekly drop since November. Last week the S&P 500 and the Dow each lost 2.1 percent, paring their advances after a strong start to the year.

The news that economic growth had slowed in China set off a plunge in commodity prices last Monday, leading the stock market to its worst day of the year. Gold dropped below $1,400 an ounce for the first time in two years.

Caterpillar rose $2.28, or 2.8 percent, to $82.71. The heavy equipment maker initially fell Monday after lowering its forecasts for full-year sales and profits because its mining business is slowing. The company also said it plans to resume buying back its own stock for the first since 2008 with a buyback of $1 billion.

Traders appear more likely to punish companies that miss expectations, rather than reward companies that beat them, Goldman Sachs said. According to the investment bank's research, while 63 percent of stocks that beat analysts' forecasts last week performed better than the overall market the next day, 73 percent of those that missed targets performed worse.

"If you look at this earnings season in general, it's been disappointing," said Ryan Detrick, a senior technical strategist at Schaeffer's Investment Research. "The outlook and the revenues are the big concern."

In other trading, the Nasdaq composite gained the most of the three major indexes, rising 27.50 points, or 0.9 percent, to 3,233.55. Apple, which reports its earnings after the market close on Tuesday, rose 2.1 percent, or $8.14, to $398.67. Apple is the biggest stock in the Nasdaq index with a 7.6 percent weighting.

In government bond trading, the yield on the 10-year Treasury note fell to 1.70 percent from 1.71 percent late Friday as traders shifted money into lower-risk assets.

Among other stocks making big moves:

General Electric fell 40 cents, or 1.8 percent, to $21.35 after JPMorgan cut its rating on the company to "neutral" from "overweight." The company's stock fell Friday following pessimistic comments from its CEO on the outlook for Europe and the company's core industrial operations.

Hasbro, the maker of Transformers and My Little Pony, rose $1.17, or 3.4 percent, to $46.55 even after it said that its first-quarter loss widened after heavy restructuring charges and foreign exchange rates flattened its international sales. The company's performance was still better than Wall Street had been expecting.


----------



## bigdog

Source: http://finance.yahoo.com 

The Dow closed up 152.29 points at 14,719.46. The S&P 500 ended 16.28 points higher at 1,578.78. Both indexes are about 1 percent below their record highs.

The Nasdaq composite rose 35.78 points, or 1 percent, to 3,269.33. 

Companies that do the best when the economy is improving led the market higher Tuesday after several of them reported strong quarterly earnings.

Coach, a maker of luxury handbags, and Netflix, which streams TV shows and movies over the Internet, were winners after announcing profits that impressed investors. Financial stocks rose after Travelers' earnings beat the expectations of financial analysts who follow the company.

That's a change from earlier this year. The stock market's surge in 2013 has been led by so-called defensive industries such as health care, consumer staples and utilities. Investors buy those stocks when they're unsure about the direction of the economy and want to own companies that make products people buy in bad times as well as good. Until now, they've been less enthusiastic about stocks of companies that provide discretionary goods and services and do best in good times.

"For a change we are actually seeing more cyclical parts of the economy lead the market," said Michael Sheldon, chief market strategist at RDM Financial Group.

The Dow Jones industrial average and the Standard & Poor's 500 index both rose 1 percent, and for a third straight day.

Stocks closed higher even after all financial markets were shaken in the early afternoon when a fake tweet on The Associated Press Twitter account prompted a sudden sell-off.

A posting saying that there had been explosions at the White House and that President Barack Obama had been injured was sent at 1:08 p.m. The Dow immediately plunged 143 points, from 14,697 to 14,554. The AP said its Twitter account had been hacked and the posting was fake.

Within five minutes, the Dow had snapped back.

AP spokesman Paul Colford said the news cooperative is working with Twitter to investigate the issue. The AP disabled its other Twitter accounts following the attack, Colford added. 

 *The NYSE DOW closed  	HIGHER ▲	152.29	points or ▲	1.05%	Tuesday, 23 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,719.46	▲	152.29	▲	1.05%	
	Nasdaq___	3,269.33	▲	35.78	▲	1.11%	
	S&P_500__	1,578.78	▲	16.28	▲	1.04%	
	30_Yr_Bond	2.888	▲	0.01	▲	0.28%	

NYSE Volume	3,957,531,000			 		 	
Nasdaq Volume	1,642,050,380			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,406.12	▲	125.50	▲	2.00%	
	DAX_____	7,658.21	▲	180.10	▲	2.41%	
	CAC_40__	3,783.05	▲	130.92	▲	3.58%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,002.60	▲	47.20	▲	0.95%	
	Shanghai_Comp	2,184.54	▼	-57.63	▼	-2.57%	
	Taiwan_Weight	7,942.77	▼	-27.61	▼	-0.35%	
	Nikkei_225____	13,529.65	▼	-38.72	▼	-0.29%	
	Hang_Seng____	21,806.61	▼	-237.76	▼	-1.08%	
	Strait_Times___	3,284.35	▼	-24.57	▼	-0.74%	
	NZX_50_Index__	4,516.50	▲	32.84	▲	0.73%	

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Stocks gain on earnings; fake tweet shakes stocks

Strong earnings drive stocks higher; fake tweet briefly shakes markets*

By Steve Rothwell, AP Markets Writer 

Companies that do the best when the economy is improving led the market higher Tuesday after several of them reported strong quarterly earnings.

Coach, a maker of luxury handbags, and Netflix, which streams TV shows and movies over the Internet, were winners after announcing profits that impressed investors. Financial stocks rose after Travelers' earnings beat the expectations of financial analysts who follow the company.

That's a change from earlier this year. The stock market's surge in 2013 has been led by so-called defensive industries such as health care, consumer staples and utilities. Investors buy those stocks when they're unsure about the direction of the economy and want to own companies that make products people buy in bad times as well as good. Until now, they've been less enthusiastic about stocks of companies that provide discretionary goods and services and do best in good times.

"For a change we are actually seeing more cyclical parts of the economy lead the market," said Michael Sheldon, chief market strategist at RDM Financial Group.

The Dow Jones industrial average and the Standard & Poor's 500 index both rose 1 percent, and for a third straight day.

Stocks closed higher even after all financial markets were shaken in the early afternoon when a fake tweet on The Associated Press Twitter account prompted a sudden sell-off.

A posting saying that there had been explosions at the White House and that President Barack Obama had been injured was sent at 1:08 p.m. The Dow immediately plunged 143 points, from 14,697 to 14,554. The AP said its Twitter account had been hacked and the posting was fake.

Within five minutes, the Dow had snapped back.

AP spokesman Paul Colford said the news cooperative is working with Twitter to investigate the issue. The AP disabled its other Twitter accounts following the attack, Colford added.

Joe Fox, chairman and co-founder of online brokerage Ditto Trade, was at work in Los Angeles when he got a call from his Chicago brokerage offices telling him what had happened. Fox watched the market tanking, and its quick bounce back.

"It was a topsy-turvy rollercoaster for a few minutes there," Fox said.

After the brief sell-off, investors turned their focus back to earnings.

Netflix soared $42.62, or 24 percent, to $216.99 after reporting a big gain in subscribers in the first quarter. Coach jumped $4.96, or 11 percent, to $55.55, after it announced higher sales in North America, beat earnings forecasts from financial analysts and raised its dividend. Travelers rose $1.77, or 2.1 percent, to $86.35. The insurer paid out less in claims compared with the premiums it took in

So far, 69 percent of companies that have reported earnings for the first quarter have beaten analysts' expectations, better than the 10-year average of 62 percent, according to data from S&P Capital IQ.

Still, profits are expected to rise just 2.3 percent, slower than the 7.7 percent growth in the fourth quarter.

There are still plenty of earnings for investors to get through this week.

Consumer goods giant Procter & Gamble, drugmaker Eli Lilly and Boeing are among companies that will release earnings on Wednesday. United Parcel Service ”” better known as UPS ”” Exxon Mobil and Amazon are some of the corporations that will give updates on Thursday.

The Dow closed up 152.29 points at 14,719.46. The S&P 500 ended 16.28 points higher at 1,578.78. Both indexes are about 1 percent below their record highs.

The Nasdaq composite rose 35.78 points, or 1 percent, to 3,269.33.

Tuesday's upturn in stock markets put both indexes back in the black for April and closer to the record highs they reached on April 11. It was a sharp change of tone from last week, when the market had its worst weekly drop since November. That sell-off started after economic growth in China, the world's second-largest economy, slowed.

The yield on the 10-year Treasury note rose to 1.71 percent, from 1.70 percent late Monday.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market finished pretty much where it started Wednesday as a mixed bag of earnings from big-name American companies left investors uninspired.

The Dow closed down 43.16 points, or 0.3 percent, at 14,676.30. The Standard & Poor's 500 index ”” the market's most widely used barometer ””was flat at 1,578.79.

In other markets, the price of oil soared, posting its biggest gain this year. The price of gold and the yield on the benchmark 10-year Treasury rose.

The Dow was held back by big drops in Procter & Gamble and AT&T. P&G issued a weak quarterly profit forecast and AT&T lost subscribers from its contract-based plans for the first time.

But other companies impressed investors and boosted their stock prices with strong quarterly earnings: Defense contractor General Dynamics and airplane maker Boeing easily beat expectations from financial analysts.

While the majority of corporations have delivered profits that were better than expected in the first quarter, their revenue hasn't been as impressive, suggesting they are struggling to grow.

"Overall, the earnings environment is very lackluster, for want of a better word," said Robbert van Batenburg, director of market strategy at Newedge.

So far, 175 of the companies in the S&P 500, or 35 percent, have reported quarterly earnings and two-thirds of the Dow's 30 members have reported.

Sixty-nine percent of companies in the S&P 500 have beaten profit expectations, better than the 10-year average of 62 percent, according to S&P Capital IQ. However, only 39 percent have beaten revenue forecasts.

Looking ahead, the outlook dims. Of the 35 companies that have given earnings forecasts for the second quarter, 28 have been "negative," according to S&P Capital IQ, with only four "positive" and three "in-line."

The Nasdaq composite edged up 0.32 point at 3,269.55. The Russell 2000 index of small-company stocks fared better. It rose 0.5 percent, or 4.75 points, to 934.11.

Last week, stocks logged their biggest weekly drop in five months after growth in China, the world's second-biggest economy, slowed and commodity prices plunged. Weaker hiring and manufacturing growth in the U.S. have also weighed on the stock market.

The Dow and S&P 500 reached record highs on April 11, but their gains have slowed sharply since then. The Dow is up just 0.7 percent this month while the S&P 500 has gained 0.6 percent. 

 *The NYSE DOW closed  	LOWER ▼	-43.16	points or ▼	-0.29%	Wednesday, 24 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,676.30	▼	-43.16	▼	-0.29%	
	Nasdaq___	3,269.65	▲	0.32	▲	0.01%	
	S&P_500__	1,578.79	▲	0.01	▲	0.00%	
	30_Yr_Bond	2.890	▲	0.00	▲	0.03%	

NYSE Volume	3,888,740,000			 		 	
Nasdaq Volume	1,698,478,250			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,431.76	▲	25.64	▲	0.40%	
	DAX_____	7,759.03	▲	100.82	▲	1.32%	
	CAC_40__	3,842.94	▲	59.89	▲	1.58%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,084.20	▲	81.60	▲	1.63%	
	Shanghai_Comp	2,218.32	▲	33.78	▲	1.55%	
	Taiwan_Weight	8,023.71	▲	80.94	▲	1.02%	
	Nikkei_225____	13,843.46	▲	313.81	▲	2.32%	
	Hang_Seng____	22,183.05	▲	376.44	▲	1.73%	
	Strait_Times___	3,312.70	▲	28.35	▲	0.86%	
	NZX_50_Index__	4,538.98	▲	22.48	▲	0.50%	

http://finance.yahoo.com/news/stocks-little-changed-mixed-earnings-221232709.html

*Stocks little changed after mixed earnings

Mixed earnings reports leave major stock indexes little changed.*

By Steve Rothwell

The stock market finished pretty much where it started Wednesday as a mixed bag of earnings from big-name American companies left investors uninspired.

The Dow closed down 43.16 points, or 0.3 percent, at 14,676.30. The Standard & Poor's 500 index ”” the market's most widely used barometer ””was flat at 1,578.79.

In other markets, the price of oil soared, posting its biggest gain this year. The price of gold and the yield on the benchmark 10-year Treasury rose.

The Dow was held back by big drops in Procter & Gamble and AT&T. P&G issued a weak quarterly profit forecast and AT&T lost subscribers from its contract-based plans for the first time.

But other companies impressed investors and boosted their stock prices with strong quarterly earnings: Defense contractor General Dynamics and airplane maker Boeing easily beat expectations from financial analysts.

While the majority of corporations have delivered profits that were better than expected in the first quarter, their revenue hasn't been as impressive, suggesting they are struggling to grow.

"Overall, the earnings environment is very lackluster, for want of a better word," said Robbert van Batenburg, director of market strategy at Newedge.

P&G, the maker of Tide detergent and Gillette razors, dropped $4.82, or 5.1 percent, to $77.12 after its forecast came in below what financial analysts were expecting. P&G was hurt by uneven demand for new products.

AT&T dropped $1.96, or 5.2 percent, to $37.04 after it lost phone subscribers from its contract-based plans in its latest quarter. It's a sign that industry growth is slowing now that most American have smartphones.

General Dynamics, the aerospace and defense company, jumped $4.62, or 6.9 percent, to $71.73. CEO Phebe Novakovic called the quarter's results a "strong start" to achieving the company's goals this year, saying they reflected its focus on cuttings costs and generating cash.

Boeing climbed $2.65, or 3 percent, to $90.83 after the airplane maker said its first-quarter net income rose 20 percent despite problems with the 787 Dreamliner. The company said it would meet its financial and airplane delivery goals this year.

So far, 175 of the companies in the S&P 500, or 35 percent, have reported quarterly earnings and two-thirds of the Dow's 30 members have reported.

Sixty-nine percent of companies in the S&P 500 have beaten profit expectations, better than the 10-year average of 62 percent, according to S&P Capital IQ. However, only 39 percent have beaten revenue forecasts.

Looking ahead, the outlook dims. Of the 35 companies that have given earnings forecasts for the second quarter, 28 have been "negative," according to S&P Capital IQ, with only four "positive" and three "in-line."

"We think that most managements are appropriately cautious in their outlooks, because it's very possible that the second-quarter will continue to slow," said Jim Russell, a regional investment director at U.S. Bank. "We're watching with cautious optimism that this is a second-quarter-only soft patch in the economic data."

A report Wednesday that orders for long-lasting U.S. factory goods fell more than economists expected added to concerns that global growth is slowing.

The Commerce Department said orders for durable goods declined 5.7 percent in March following a 4.3 percent gain the previous month. February's figure was also revised lower.

The Nasdaq composite edged up 0.32 point at 3,269.55. The Russell 2000 index of small-company stocks fared better. It rose 0.5 percent, or 4.75 points, to 934.11.

Last week, stocks logged their biggest weekly drop in five months after growth in China, the world's second-biggest economy, slowed and commodity prices plunged. Weaker hiring and manufacturing growth in the U.S. have also weighed on the stock market.

The Dow and S&P 500 reached record highs on April 11, but their gains have slowed sharply since then. The Dow is up just 0.7 percent this month while the S&P 500 has gained 0.6 percent.

During the first three months of the year, the indexes averaged monthly gains of more than 3 percent, driven by optimism that the housing and job markets were recovering and that company earnings would continue to climb.

Companies made money in the first quarter, however, and are on track to increase their earnings by an average of almost 3 percent, according to S&P Capital IQ.

"Overall, I'm really quite comforted," said David Kelly, chief global strategist at JPMorgan Funds. "It's not an easy environment in which to make money, but companies are finding ways in which to hold costs in line and grow earnings."

Crude oil rose $2.25 to finish at $91.43 a barrel as U.S. supplies rose less than expected last week. Gold for June delivery rose $14.90 to $1,423.70 an ounce.

In government bond trading, the yield on the 10-year Treasury note rose to 1.71 percent from 1.70. The yield fell to 1.69 percent last week, close to its lowest of the year.


----------



## bigdog

Source: http://finance.yahoo.com 

The engines driving the stock market were more tepid than turbocharged Thursday, but they were enough to help stocks rise for a fifth straight day.

The three major U.S. stock indexes all closed higher as good news on the job market and healthy earnings from name-brand companies like Royal Caribbean and Harley-Davidson encouraged investors.

The Standard & Poor's 500 has risen every day since Friday, a record not matched since early March.

The forces driving the gains, however, were tenuous, market watchers said. Hiring remains sluggish, even with the drop in unemployment claims last week. The S&P's five-day winning streak is hardly a blockbuster: on Wednesday it rose just .01 point. And while companies are turning in profits that are beating the estimates of financial analysts, many are missing revenue forecasts.

Some investors think the stock market's most recent gains have more to do with the belief that central banks around the world, including the Federal Reserve, will continue to keep interest rates low and buy bonds to encourage borrowing and spending.

"Some of the earnings were OK, but it's more just stimulus, stimulus, stimulus," said Scott Freeze, president of Street One Financial in Huntingdon Valley, Pa. "As long as the world wants to print (money) ... the fears of a global slowdown are going to be muted."

Joe Heider, principal at Rehmann Group outside Cleveland, thought stocks were up mostly because investors can't think of anywhere else to put their money, given record-low interest rates.

"You can leave it in cash and make nothing on it," Heider said.

Heider said he thought the latest report on jobless claims was consistent with a "plodding" recovery: "Not booming, not exciting, but we just keep marching forward."

Weekly applications for unemployment benefits fell 16,000 to 339,000, the second-lowest level in more than five years, according to the Labor Department.

The good news for the job market comes after a series of setbacks. In March, employers added only 88,000 jobs, down from an average of 220,000 for the previous four months. The unemployment rate fell to 7.6 percent from 7.7 percent, but only because more people stopped looking for jobs.

The Dow Jones industrial average rose as much as 91 points before giving up most of that gain Thursday. Investors were underwhelmed by what turned out to be a mixed bag on earnings. The Dow closed up 24.50 points, or 0.2 percent, to 14,700.80.

The S&P 500 rose 6.37 points, or 0.4 percent, to 1,585.16. Nine of the S&P's 10 industry groups rose, led by telecommunications. Verizon Communications, the biggest component in S&P's telecommunications group, rose almost 3 percent to $53.22 following reports that the company could offer $100 billion to buy out Vodafone's interest in their joint venture, Verizon Wireless.

The S&P 500's last streak this long was March 1 to 11, when it rose on seven straight trading days.

The Nasdaq composite index rose 20.33, or 0.6 percent, to 3,289.99. 

 *The NYSE DOW closed  	HIGHER ▲	24.50	points or ▲	0.17%	Thursday, 25 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,700.80	▲	24.50	▲	0.17%	
	Nasdaq___	3,289.99	▲	20.34	▲	0.62%	
	S&P_500__	1,585.16	▲	6.37	▲	0.40%	
	30_Yr_Bond	2.908	▲	0.02	▲	0.66%	

NYSE Volume	4,227,859,500			 		 	
Nasdaq Volume	1,980,634,620			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,442.59	▲	10.83	▲	0.17%	
	DAX_____	7,832.86	▲	73.83	▲	0.95%	
	CAC_40__	3,840.47	▼	-2.47	▼	-0.06%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,084.20	▲	81.60	▲	1.63%	
	Shanghai_Comp	2,199.31	▼	-19.01	▼	-0.86%	
	Taiwan_Weight	8,021.75	▼	-1.96	▼	-0.02%	
	Nikkei_225____	13,926.08	▲	82.62	▲	0.60%	
	Hang_Seng____	22,401.24	▲	218.19	▲	0.98%	
	Strait_Times___	3,333.61	▲	10.90	▲	0.33%	
	NZX_50_Index__	4,538.98	▲	22.48	▲	0.50%	

http://finance.yahoo.com/news/stocks-edge-higher-job-market-195216418.html

*Stocks edge higher as job market improves

Stocks move higher as unemployment claims ease; corporate earnings paint a mixed picture*

By Christina Rexrode, AP Business Writer

The engines driving the stock market were more tepid than turbocharged Thursday, but they were enough to help stocks rise for a fifth straight day.

The three major U.S. stock indexes all closed higher as good news on the job market and healthy earnings from name-brand companies like Royal Caribbean and Harley-Davidson encouraged investors.

The Standard & Poor's 500 has risen every day since Friday, a record not matched since early March.

The forces driving the gains, however, were tenuous, market watchers said. Hiring remains sluggish, even with the drop in unemployment claims last week. The S&P's five-day winning streak is hardly a blockbuster: on Wednesday it rose just .01 point. And while companies are turning in profits that are beating the estimates of financial analysts, many are missing revenue forecasts.

Some investors think the stock market's most recent gains have more to do with the belief that central banks around the world, including the Federal Reserve, will continue to keep interest rates low and buy bonds to encourage borrowing and spending.

"Some of the earnings were OK, but it's more just stimulus, stimulus, stimulus," said Scott Freeze, president of Street One Financial in Huntingdon Valley, Pa. "As long as the world wants to print (money) ... the fears of a global slowdown are going to be muted."

Joe Heider, principal at Rehmann Group outside Cleveland, thought stocks were up mostly because investors can't think of anywhere else to put their money, given record-low interest rates.

"You can leave it in cash and make nothing on it," Heider said.

Heider said he thought the latest report on jobless claims was consistent with a "plodding" recovery: "Not booming, not exciting, but we just keep marching forward."

Weekly applications for unemployment benefits fell 16,000 to 339,000, the second-lowest level in more than five years, according to the Labor Department.

The good news for the job market comes after a series of setbacks. In March, employers added only 88,000 jobs, down from an average of 220,000 for the previous four months. The unemployment rate fell to 7.6 percent from 7.7 percent, but only because more people stopped looking for jobs.

The Dow Jones industrial average rose as much as 91 points before giving up most of that gain Thursday. Investors were underwhelmed by what turned out to be a mixed bag on earnings. The Dow closed up 24.50 points, or 0.2 percent, to 14,700.80.

The S&P 500 rose 6.37 points, or 0.4 percent, to 1,585.16. Nine of the S&P's 10 industry groups rose, led by telecommunications. Verizon Communications, the biggest component in S&P's telecommunications group, rose almost 3 percent to $53.22 following reports that the company could offer $100 billion to buy out Vodafone's interest in their joint venture, Verizon Wireless.

The S&P 500's last streak this long was March 1 to 11, when it rose on seven straight trading days.

The Nasdaq composite index rose 20.33, or 0.6 percent, to 3,289.99.

Thursday's earnings offered a mixed view of the economy, and mixed reactions from investors. Many companies have been reporting better first-quarter results, though the gains have come more from cost-cutting than from a strong economy.

So far, 71 percent of S&P 500 companies have beaten analysts' profit expectations for the first quarter, according to John Butters, senior earnings analyst at FactSet. But only 44 percent have beaten estimates for revenue.

Dow Chemical, which reported results, was one example. The company managed to increase profit even as revenue slipped because it cut costs and paid down debt. The stock rose nearly 6 percent to $33.97.

Safeway, a major grocery store chain, reported higher profit with the help of tax benefits. Revenue fell and missed analysts' expectations. Safeway's stock plunged almost 14 percent to $24.32. Investors were concerned about competition from dollar stores and big-box retailers.

In a report to clients, ConvergEx Group chief market strategist Nicholas Colas noted companies' higher earnings but said they don't match the "real feel" of an economy still crimped by "lackluster jobs growth, a flattening rate of improvement in the housing market, and incremental government austerity measures."

"If U.S. companies have proven anything in the last four years of subpar macroeconomic results," Colas wrote, "it is that they can make gallons of lemonade from just a few shriveled bits of citrus."

Among other companies making big moves:

”” Children's clothing company Carter's and motorcycle maker Harley-Davidson both rose after reporting higher profit and revenue. Carter's rose 6 percent to $64.12. Harley rose more than 2 percent to $54.31.

”” Profit and revenue also jumped at the cruise line Royal Caribbean as more people booked vacations. The stock jumped more than 5 percent, rising to $36.07. This year's comparisons, however, are a bit unusual: Last year's results were hurt because of the sinking of the Costa Concordia, owned by rival cruise line Carnival.

”” Profit and revenue also rose at 3M, maker of Scotch tape and construction equipment, but the stock fell almost 3 percent to $104.88. Investors were unnerved when the company cut its profit predictions for the year, citing a "low-growth economic environment."

”” Cosmetics company Revlon reported a loss after taking a charge for refinancing, and revenue was virtually flat. The stock dropped nearly 7 percent to $19.16.

”” Profit and revenue also fell at Cliffs Natural Resources and Carbo Ceramics, but their stocks went in opposite directions. Cliffs, which sells iron ore, shot 15 percent higher to $20.95. Carbo, which provides services and parts for the petroleum industry, plunged more than 17 percent to $71.55.

At Cliffs, the lower profits were still better than analysts had expected. At Carbo, investors were worried because the company said Chinese ceramic imports were hurting its pricing, and because drilling companies were taking more rigs out of action.

In other markets, trading resumed on the Chicago Board of Options Exchange close to 1 p.m. Eastern after being shut down all morning because of software problems. The CBOE's VIX index, a measure of how volatile investors expect the market to be, was virtually unchanged at 13.62, close to its low point of the year, 11, reached on March 15.

Gold futures rose 2.7 percent to $1,462 an ounce and the price of crude oil rose 2.4 percent to $93.64 a barrel. The yield on the benchmark 10-year Treasury note was unchanged at 1.71 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market stalled Friday after the U.S. economy didn't grow as much as hoped and earnings from a handful of big companies failed to rev up investors.

The economy grew at a 2.5 percent annual rate in the first three months of the year, the government said. That was below the 3.1 percent forecast by economists.

The shortfall reinforced the perception that the economy is grinding, rather than charging, ahead. Investors have also been troubled by reports in the last month of weaker hiring, slower manufacturing and a drop in factory orders. Many economists see growth slowing to an annual rate of around 2 percent a year for the rest of the year.

U.S. government bonds, where investors seek safety, rose after the report.

"There are some concerns as we head into the summer," said JJ Kinahan, chief derivatives strategist for TD Ameritrade. "In the last three weeks, we've seen numbers that weren't exactly what you'd love to see."

Corporate earnings this week have also contained worrisome signs. Many companies missed revenue forecasts from financial analysts, even as they reported higher quarterly profits. For example, Goodyear Tire slipped 3.3 percent to $12.51 Friday after revenue fell short of analysts' estimates, hurt by lower global tire sales.

Of the companies that have reported earnings so far, 70 percent have exceeded Wall Street's expectations, compared with a 10-year average of 62 percent, according to S&P Capital IQ. But 43 percent have missed revenue estimates. Just over half of the companies in the S&P 500 have reported quarterly results.

The S&P 500 index dropped 2.92 points, or 0.2 percent, to close at 1,582.24.

The Dow rose 11.75 points, or 0.1 percent, to 14,712.55. The index got a big lift from Chevron. Profit for the U.S. oil company beat expectations of financial analysts in the first quarter, pushing shares up 1.3 percent to $120.04.

Three stocks fell for every two that rose on the New York Stock Exchange.

Both indexes were up for the week and remain slightly below their all-time highs reached April 11. The Dow index rose 1.1 percent this week while the S&P gained 1.7 percent. 

 *The NYSE DOW closed  	HIGHER ▲	11.75	points or ▲	0.08%	Friday, 26 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,712.55	▲	11.75	▲	0.08%	
	Nasdaq___	3,279.26	▼	-10.73	▼	-0.33%	
	S&P_500__	1,582.24	▼	-2.92	▼	-0.18%	
	30_Yr_Bond	2.860	▼	-0.05	▼	-1.65%	

NYSE Volume	3,484,140,250			 		 	
Nasdaq Volume	1,713,288,250			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,426.42	▼	-16.17	▼	-0.25%	
	DAX_____	7,814.76	▼	-18.10	▼	-0.23%	
	CAC_40__	3,810.05	▼	-30.42	▼	-0.79%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,082.70	▼	-1.50	▼	-0.03%	
	Shanghai_Comp	2,177.91	▼	-21.40	▼	-0.97%	
	Taiwan_Weight	8,022.06	▲	0.31	▲	0.00%	
	Nikkei_225____	13,884.13	▼	-41.95	▼	-0.30%	
	Hang_Seng____	22,547.71	▲	146.47	▲	0.65%	
	Strait_Times___	3,348.87	▲	11.16	▲	0.33%	
	NZX_50_Index__	4,548.71	▲	9.73	▲	0.21%	

http://finance.yahoo.com/news/stocks-stall-tepid-us-economic-195933199.html

*Stocks stall on tepid US economic growth

Stocks stall after economic growth comes in weaker than economists forecast; Amazon slumps*

By Steve Rothwell, AP Markets Writer

The stock market stalled Friday after the U.S. economy didn't grow as much as hoped and earnings from a handful of big companies failed to rev up investors.

The economy grew at a 2.5 percent annual rate in the first three months of the year, the government said. That was below the 3.1 percent forecast by economists.

The shortfall reinforced the perception that the economy is grinding, rather than charging, ahead. Investors have also been troubled by reports in the last month of weaker hiring, slower manufacturing and a drop in factory orders. Many economists see growth slowing to an annual rate of around 2 percent a year for the rest of the year.

U.S. government bonds, where investors seek safety, rose after the report.

"There are some concerns as we head into the summer," said JJ Kinahan, chief derivatives strategist for TD Ameritrade. "In the last three weeks, we've seen numbers that weren't exactly what you'd love to see."

Corporate earnings this week have also contained worrisome signs. Many companies missed revenue forecasts from financial analysts, even as they reported higher quarterly profits. For example, Goodyear Tire slipped 3.3 percent to $12.51 Friday after revenue fell short of analysts' estimates, hurt by lower global tire sales.

Of the companies that have reported earnings so far, 70 percent have exceeded Wall Street's expectations, compared with a 10-year average of 62 percent, according to S&P Capital IQ. But 43 percent have missed revenue estimates. Just over half of the companies in the S&P 500 have reported quarterly results.

The S&P 500 index dropped 2.92 points, or 0.2 percent, to close at 1,582.24.

The Dow rose 11.75 points, or 0.1 percent, to 14,712.55. The index got a big lift from Chevron. Profit for the U.S. oil company beat expectations of financial analysts in the first quarter, pushing shares up 1.3 percent to $120.04.

Three stocks fell for every two that rose on the New York Stock Exchange.

Both indexes were up for the week and remain slightly below their all-time highs reached April 11. The Dow index rose 1.1 percent this week while the S&P gained 1.7 percent.

The market has been bolstered by the Federal Reserve's easy money policy. The disappointing growth figure for the economy will ensure that the Fed sticks with its stimulus policy, providing support for stocks, said Peter Cardillo, chief market economist at Rockwell Global Capital.

"The economic data that we've been getting points to no early exit for the Fed's stimulus," Cardillo said.

The Nasdaq composite fell 10.72 points to 3,279.26, a decline of 0.3 percent. The index is 2.3 percent higher this week.

The tech-heavy index has lagged the Dow and the S&P 500 this year, but it led the way higher this week, boosted by Microsoft. The software giant, which makes up 5.3 percent of the Nasdaq, recorded its biggest weekly gain since January of last year ”” up 6.8 percent. It reported earnings April 19 that beat Wall Street expectations. The company also began an aggressive push into the computer tablet market.

Apple, the largest stock in the Nasdaq, also had a good week. The stock rose 6.8 percent to $417.20, its best weekly gain since November, despite posting a decline in quarterly profit Tuesday. Apple accounts for 7.6 percent of the Nasdaq composite.

Among other big names investors focused on:

Amazon.com fell 7 percent to $254.81 after the company warned of a possible loss in the current quarter. The online retailer also reported lower income for the first quarter as it continued to spend heavily on rights to digital content.

Expedia fell 10 percent to $58.56 after the online travel company reported a quarterly loss.

Homebuilder D.R. Horton surged 8.7 percent to $26.66 after its income nearly tripled thanks to a continuing recovery the housing market. The results handily beat the forecasts of financial analysts who follow the company.

J.C. Penney jumped 12 percent to $17 after the billionaire financier George Soros disclosed that he had taken a 7.9 percent stake in the struggling company.

In government bond trading, the yield on the 10-year Treasury note slipped to its lowest rate of the year, 1.67 percent, from 1.71 percent the day before. The yield has fallen from 2.06 percent six weeks ago as traders move money into lower-risk investments.

The dollar weakened against the euro.

The European currency bought $1.3029 at the end of day, compared with $1.3002 the day before. The ISE dollar index, which measures the U.S. currency against a group of other world currencies including the Japanese yen and the euro, dropped 0.3 percent, to 82.48.

0422


----------



## bigdog

Source: http://finance.yahoo.com 

Technology companies led the Standard & Poor's 500 index to an all-time closing high Monday.

The stock market has recovered all the ground it lost over the previous two weeks, when worries over slower economic growth, falling commodity prices and disappointing quarterly earnings battered financial markets.

The S&P 500 index rose 11.37 points to close at 1,593.61. The 0.7 percent increase nudged the index above its previous closing high of 1,593.36, reached on April 11.

"The market has had a terrific run," said Philip Orlando, chief equity strategist at Federated Investors, noting that the S&P 500 is up 12 percent since the start of 2013. "At the beginning of the year, I thought we were going to 1,660 (for the whole year). We're only about 5 percent from that."

A pair of better economic reports gave investors some encouragement. Wages and spending rose in the U.S. last month, and pending home sales hit their highest level in three years.

The Dow Jones industrial average gained 106.20 to 14,818.75, up 0.7 percent. Microsoft and IBM were among the Dow's best performers, rising more than 2 percent each. IBM alone accounted for a third of the Dow's increase. The index is just 46 points below its own record high of 14,865 reached on April 11.

Tech's popularity Monday was a change from earlier this month, when it lagged the rest of the market. Concerns about weak business spending and slower overseas sales have cast a shadow over big tech firms, said Marty Leclerc, the managing partner of Barrack Yard Advisors, an investment firm in Bryn Mawr, Pa.

Revenue misses from IBM and other big tech companies have highlighted the industry's vulnerability to the world economy. But Leclerc thinks tech companies with steady revenue and plenty of cash look appealing over the long term.

Information technology stocks rose the most of the 10 industry groups in the S&P Monday, up 1.6 percent. It's the only group that remains lower over the past year, down 2 percent, versus the S&P 500's gain of 14 percent.

The Nasdaq composite rose 27.76 points to 3,307.02, an increase of 0.9 percent. Apple, the biggest stock in the index, surged 3 percent to $430.12. 

 *The NYSE DOW closed  	HIGHER ▲	106.20	points or ▲	0.72%	Monday, 29 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,818.75	▲	106.20	▲	0.72%	
	Nasdaq___	3,307.02	▲	27.76	▲	0.85%	
	S&P_500__	1,593.61	▲	11.37	▲	0.72%	
	30_Yr_Bond	2.870	▲	0.01	▲	0.42%	

NYSE Volume	3,137,347,500			 		 	
Nasdaq Volume	1,557,687,250			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,458.02	▲	31.60	▲	0.49%	
	DAX_____	7,873.50	▲	58.74	▲	0.75%	
	CAC_40__	3,868.68	▲	58.63	▲	1.54%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,108.30	▲	25.60	▲	0.50%	
	Shanghai_Comp	2,177.91	▼	-21.40	▼	-0.97%	
	Taiwan_Weight	8,029.74	▲	7.68	▲	0.10%	
	Nikkei_225____	13,884.13	▼	-41.95	▼	-0.30%	
	Hang_Seng____	22,580.77	▲	33.06	▲	0.15%	
	Strait_Times___	3,361.92	▲	13.05	▲	0.39%	
	NZX_50_Index__	4,580.96	▲	32.25	▲	0.71%	

http://finance.yahoo.com/news/p-500-reaches-high-led-173539156.html

*S&P 500 reaches new high, led by tech

Standard & Poor's 500 edges above its previous record high; technology stocks lead the way*

By Matthew Craft, AP Business Writer

Technology companies led the Standard & Poor's 500 index to an all-time closing high Monday.

The stock market has recovered all the ground it lost over the previous two weeks, when worries over slower economic growth, falling commodity prices and disappointing quarterly earnings battered financial markets.

The S&P 500 index rose 11.37 points to close at 1,593.61. The 0.7 percent increase nudged the index above its previous closing high of 1,593.36, reached on April 11.

"The market has had a terrific run," said Philip Orlando, chief equity strategist at Federated Investors, noting that the S&P 500 is up 12 percent since the start of 2013. "At the beginning of the year, I thought we were going to 1,660 (for the whole year). We're only about 5 percent from that."

A pair of better economic reports gave investors some encouragement. Wages and spending rose in the U.S. last month, and pending home sales hit their highest level in three years.

The Dow Jones industrial average gained 106.20 to 14,818.75, up 0.7 percent. Microsoft and IBM were among the Dow's best performers, rising more than 2 percent each. IBM alone accounted for a third of the Dow's increase. The index is just 46 points below its own record high of 14,865 reached on April 11.

Tech's popularity Monday was a change from earlier this month, when it lagged the rest of the market. Concerns about weak business spending and slower overseas sales have cast a shadow over big tech firms, said Marty Leclerc, the managing partner of Barrack Yard Advisors, an investment firm in Bryn Mawr, Pa.

Revenue misses from IBM and other big tech companies have highlighted the industry's vulnerability to the world economy. But Leclerc thinks tech companies with steady revenue and plenty of cash look appealing over the long term.

Information technology stocks rose the most of the 10 industry groups in the S&P Monday, up 1.6 percent. It's the only group that remains lower over the past year, down 2 percent, versus the S&P 500's gain of 14 percent.

The Nasdaq composite rose 27.76 points to 3,307.02, an increase of 0.9 percent. Apple, the biggest stock in the index, surged 3 percent to $430.12.

The number of Americans who signed contracts to buy homes reached the highest level since April 2010, according to the National Association of Realtors. Back then, a tax credit for buying houses had lifted sales. In a separate report, the government said Americans' spending and income both edged up last month.

A handful of companies reported earnings on Monday. Eaton Corp.'s quarterly net income beat Wall Street's estimates, helped by its acquisition of Cooper Industries, an electrical equipment supplier. But the manufacturer's revenue fell short. Its stock climbed 3 percent to $60.28.

Eaton's results followed a larger pattern this earnings season. Of the 274 companies that have turned in results, seven of 10 have beaten analysts' estimates for earnings, according to S&P Capital IQ. But when it comes to revenue, six of 10 have missed estimates. That suggests companies are squeezing more profits out of cost cutting, instead of higher sales.

Moody's and Standard & Poor's parent company McGraw-Hill surged following news that the ratings agencies settled lawsuits dating back to the financial crisis that accused them of concealing risky investments. McGraw-Hill gained 3 percent to $53.45, while Moody's jumped 8 percent to $59.69, the biggest gain in the S&P 500.

In the market for government bonds, the yield on the 10-year Treasury note slipped to 1.66 percent, close to its low for the year. That's down from 1.67 percent late Friday.


----------



## bigdog

Source: http://finance.yahoo.com 

News that IBM will buy back more stock and raise its dividend helped pull major stock indexes out of a morning slump Tuesday.

IBM and other technology stocks led the Standard & Poor's 500 index up. The broad-market measure ended April with a 1.8 percent gain, the sixth month in a row the index has climbed higher.

Worries about slower economic growth have rattled the stock market this month, but it has consistently bounced back. Brad Sorensen, director of market research at the brokerage Charles Schwab, said that's a result of investors having few alternatives.

"Right now it seems like every pullback in the market is seen as a buying opportunity," Sorensen said. "People may say they're getting nervous, but where else are you going to put money at this point? Into Europe with their political issues? Into Treasurys paying less than 1.7 percent?"

The S&P 500 edged up 3.96 points to close at 1,597.57. The slight gain of 0.3 percent pushed the index to an all-time high for the second day straight.

A report of another record high in European unemployment helped drive money into U.S. government debt, briefly sending the yield on the benchmark 10-year Treasury note to its lowest level of the year, 1.65 percent.

IBM said it will increase its quarterly dividend by a dime, to 95 cents, and buy back up to $5 billion more of its own stock. Earlier this month, the company surprised investors when it reported a drop in quarterly earnings and sales. IBM's stock rose $3.39 to $202.54.

The tech giant's 1.7 percent gain tugged the Dow Jones industrial average up. The Dow fell as much as 84 points in morning trading but ended with a gain of 21.05 points at 14,839.80. That's an increase of 0.1 percent.

The S&P has now climbed for six months in a row. That's the longest stretch of gains since a seven-month run that started in March 2009, when the market hit a financial crisis low, and ended in October 2009. 

The Dow and the S&P 500 ended the month with gains of 1.8 percent. It wasn't exactly a smooth ride. The two indexes reached record highs in the second week of April, then took a steep fall in the next. News that China, the world's second-largest economy, slowed unexpectedly pummeled the prices of oil, copper and other commodities. The stock market had its worst day of the year on April 15, when the S&P 500 lost 2.3 percent.

 *The NYSE DOW closed  	HIGHER ▲	21.05	points or ▲	0.14%	Tuesday, 30 April 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,839.80	▲	21.05	▲	0.14%	
	Nasdaq___	3,328.79	▲	21.77	▲	0.66%	
	S&P_500__	1,597.57	▲	3.96	▲	0.25%	
	30_Yr_Bond	2.884	▲	0.01	▲	0.42%	

NYSE Volume	4,011,886,250			 		 	
Nasdaq Volume	1,947,935,750			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,430.12	▼	-27.90	▼	-0.43%	
	DAX_____	7,913.71	▲	40.21	▲	0.51%	
	CAC_40__	3,856.75	▼	-11.93	▼	-0.31%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,168.60	▲	60.30	▲	1.18%	
	Shanghai_Comp	2,177.91	▼	-21.40	▼	-0.97%	
	Taiwan_Weight	8,093.66	▲	63.92	▲	0.80%	
	Nikkei_225____	13,860.86	▼	-23.27	▼	-0.17%	
	Hang_Seng____	22,737.01	▲	156.24	▲	0.69%	
	Strait_Times___	3,368.18	▲	6.26	▲	0.19%	
	NZX_50_Index__	4,614.37	▲	33.41	▲	0.73%	

http://finance.yahoo.com/news/ibm-pulls-stock-market-morning-211424041.html

*IBM pulls the stock market out of a morning slump**

IBM pulls stock market out of morning slump; S&P 500 closes higher for sixth month straight*

By Matthew Craft, AP Business Writer

News that IBM will buy back more stock and raise its dividend helped pull major stock indexes out of a morning slump Tuesday.

IBM and other technology stocks led the Standard & Poor's 500 index up. The broad-market measure ended April with a 1.8 percent gain, the sixth month in a row the index has climbed higher.

Worries about slower economic growth have rattled the stock market this month, but it has consistently bounced back. Brad Sorensen, director of market research at the brokerage Charles Schwab, said that's a result of investors having few alternatives.

"Right now it seems like every pullback in the market is seen as a buying opportunity," Sorensen said. "People may say they're getting nervous, but where else are you going to put money at this point? Into Europe with their political issues? Into Treasurys paying less than 1.7 percent?"

The S&P 500 edged up 3.96 points to close at 1,597.57. The slight gain of 0.3 percent pushed the index to an all-time high for the second day straight.

A report of another record high in European unemployment helped drive money into U.S. government debt, briefly sending the yield on the benchmark 10-year Treasury note to its lowest level of the year, 1.65 percent.

IBM said it will increase its quarterly dividend by a dime, to 95 cents, and buy back up to $5 billion more of its own stock. Earlier this month, the company surprised investors when it reported a drop in quarterly earnings and sales. IBM's stock rose $3.39 to $202.54.

The tech giant's 1.7 percent gain tugged the Dow Jones industrial average up. The Dow fell as much as 84 points in morning trading but ended with a gain of 21.05 points at 14,839.80. That's an increase of 0.1 percent.

The S&P has now climbed for six months in a row. That's the longest stretch of gains since a seven-month run that started in March 2009, when the market hit a financial crisis low, and ended in October 2009.

This earnings season has delivered investors a mixed bag of news. More than half of the companies in the S&P 500 have turned in results, and seven of 10 have beaten analysts' estimates for earnings, according to S&P Capital IQ. Nearly as many, however, have come up short on revenue: Six of 10 have missed analysts' revenue targets. That suggests companies are getting more of their profits from laying off staff and other cost-cutting efforts instead of from higher sales.

The Dow and the S&P 500 ended the month with gains of 1.8 percent. It wasn't exactly a smooth ride. The two indexes reached record highs in the second week of April, then took a steep fall in the next. News that China, the world's second-largest economy, slowed unexpectedly pummeled the prices of oil, copper and other commodities. The stock market had its worst day of the year on April 15, when the S&P 500 lost 2.3 percent.

In other trading, the Nasdaq composite index rose 21.77 points to 3,328.79, up 0.7 percent. The dollar fell against the yen and the euro, and the price of crude oil fell $1 to $93.46 a barrel. Gold edged up $4.70 to $1,472.10 an ounce.

The yield on the 10-year Treasury note traded at 1.67 percent late Tuesday, the same as the day before. In response to slower economic growth, bond traders from around the world have been buying Treasurys this month, driving yields down. The 10-year yield started April around 1.85 percent.

Among other stocks making big moves:

”” Pfizer dropped 4 percent after the drug maker's results fell short of what analysts had expected. Falling sales of Lipitor, its cholesterol drug, crimped revenue. The world's second-largest drug maker also cut its profit forecast for the rest of the year. Pfizer lost $1.36 to $29.07

”” Pitney Bowes sank 16 percent after the maker of mailing equipment and software cut its dividend in half and posted a 58 percent drop in net income. Pitney Bowes sank $2.53 to $13.67.

”” Avon Products' quarterly loss wasn't as deep as analysts had expected. The direct-seller of cosmetics has been cutting staff and scaling back operations in an effort to turn around its business. Avon's stock rose 92 cents to $23.16, a gain of 4 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

Signs of a slowing economy dragged down the stock market Wednesday. Even the prospect of continued stimulus from the Federal Reserve didn't help.

Major market indexes fell by 0.9 percent, their worst decline in two weeks. Small-company stocks fell even more, 2.5 percent, as investors shunned risk. The yield on the benchmark U.S. government bond fell to its lowest of the year as investors sought safety.

Stocks opened lower and kept sagging throughout the day, hurt by reports of a slowdown in hiring and manufacturing last month. Discouraging earnings news from major U.S. companies also dragged the market lower.

"Investors are going to be rattled by these numbers," said Colleen Supran, a principal at San Francisco based-Bingham, Osborn & Scarborough. She expects stock market swings to increase after the early gains of the year.

The Dow Jones industrial average closed down 138.85 points to 14,700 points. Merck, the giant drug company, had one of the biggest falls in the Dow after reporting earnings that disappointed investors. The Dow had risen for four days straight.

The Standard & Poor's 500 index, a broader market measure, dropped 14.87 to 1,582.70.

The stock market was down even after the Federal Reserve stood by its easy-money policies after a two-day policy meeting.

The Fed is maintaining its $85-billion-a-month bond-buying program, begun in 2008, which aims to keep interest rates low to encourage borrowing, spending and investing. 

*The start of the new month will also remind investors of the investing adage "Sell in May and go away."

The S&P 500 hasn't advanced in May since 2009. In recent years, stock gains at the beginning of the year have been followed by late spring-early summer swoons. In 2012, stocks plunged in May on growing concern that Spain and Italy would be sucked deeper into Europe's debt crisis. The year before, wrangling about the U.S. debt ceiling rattled markets.

Since 1970, the S&P 500 has generated an annualized return of 4.1 percent from May through October, well below the 17.2 percent annualized return from November through April. * 

 *The NYSE DOW closed  	LOWER ▼	-138.85	points or ▼	-0.94%	Wednesday, 1 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,700.95	▼	-138.85	▼	-0.94%	
	Nasdaq___	3,299.13	▼	-29.66	▼	-0.89%	
	S&P_500__	1,582.70	▼	-14.87	▼	-0.93%	
	30_Yr_Bond	2.840	▼	-0.04	▼	-1.53%	

NYSE Volume	3,959,038,750			 		 	
Nasdaq Volume	1,846,665,620			 		 	

*Europe						
Symbol... .....Last ….....Change....... * 
FTSE_100	6,451.29	▲	21.17	▲	0.33%	closed for holiday
DAX_____	7,913.71	▲	40.21	▲	0.51%	closed for holiday
CAC_40__	3,856.75	▼	-11.93	▼	-0.31%	closed for holiday

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,143.90	▼	-24.70	▼	-0.48%	
	Shanghai_Comp	2,177.91	▼	-21.40	▼	-0.97%	
	Taiwan_Weight	8,093.66	▲	63.92	▲	0.80%	
	Nikkei_225____	13,799.35	▼	-61.51	▼	-0.44%	
	Hang_Seng____	22,737.01	▲	156.24	▲	0.69%	
	Strait_Times___	3,368.18	▲	6.26	▲	0.19%	
	NZX_50_Index__	4,603.02	▼	-11.35	▼	-0.25%	

http://finance.yahoo.com/news/stocks-sink-economic-worries-dow-213420838.html

*Stocks sink on economic worries; Dow off 138

Signs of slowing economy yank stock market lower; Dow off 138*

By Steve Rothwell, AP Markets Writer

Signs of a slowing economy dragged down the stock market Wednesday. Even the prospect of continued stimulus from the Federal Reserve didn't help.

Major market indexes fell by 0.9 percent, their worst decline in two weeks. Small-company stocks fell even more, 2.5 percent, as investors shunned risk. The yield on the benchmark U.S. government bond fell to its lowest of the year as investors sought safety.

Stocks opened lower and kept sagging throughout the day, hurt by reports of a slowdown in hiring and manufacturing last month. Discouraging earnings news from major U.S. companies also dragged the market lower.

"Investors are going to be rattled by these numbers," said Colleen Supran, a principal at San Francisco based-Bingham, Osborn & Scarborough. She expects stock market swings to increase after the early gains of the year.

The Dow Jones industrial average closed down 138.85 points to 14,700 points. Merck, the giant drug company, had one of the biggest falls in the Dow after reporting earnings that disappointed investors. The Dow had risen for four days straight.

The Standard & Poor's 500 index, a broader market measure, dropped 14.87 to 1,582.70.

The stock market was down even after the Federal Reserve stood by its easy-money policies after a two-day policy meeting.

The Fed is maintaining its $85-billion-a-month bond-buying program, begun in 2008, which aims to keep interest rates low to encourage borrowing, spending and investing.

The Fed also raised concerns about the economy, noting that tax increases and spending cuts that kicked in this year are slowing growth. The central bank made clear that it could increase or decrease its bond purchases depending on the performance of the job market and inflation.

John Lynch, chief regional investment officer at Wells Fargo said: "If you get a market that is purely built on free money, as opposed to solid fundamentals, investors should take pause."

The Fed's program has been one of the supporting factors behind the stock market's rally this year. The S&P 500 reached record highs in April and has risen every month in 2013, gaining 11 percent so far this year.

The market has stumbled in recent weeks after several reports suggesting the economy might be weakening.

Employers added only 88,000 jobs in March, far fewer than the 220,000 averaged in the previous four months, and the economy grew at an annual rate of 2.5 percent in the January-March quarter ”” a decent rate but one that's expected to weaken in coming months because of higher Social Security taxes and the federal spending cuts.

On Wednesday, a report showed that U.S. factory activity in April dropped to its slowest pace this year as manufacturers pulled back on hiring and cut stockpiles. Companies added just 119,000 jobs in April, the fewest in seven months, said payroll processor ADP.

Company earnings also drew investors' attention.

Drugmaker Merck & Co. fell $1.31, or 2.8 percent, to $45.69 after cutting its 2013 profit forecast. The company said competition from generic versions of its drugs and unfavorable exchange rates hurt its profit.

MasterCard eased $13.11, or 2.4 percent, to $539.80 after the payments processing company reported that revenue missed the expectations of financial analysts who cover the company.

About two-thirds of companies in the S&P 500 index have announced earnings for the first quarter.

The earnings are at record levels, and about seven of 10 companies have topped the forecasts of Wall Street analysts, according to S&P Capital IQ. Revenues have disappointed, though, with about six of 10 companies falling short. That suggests companies are raising profits through cutting costs rather than boosting revenues.

Earnings at S&P 500 companies are expected to increase 4.1 percent in the first quarter versus the same period a year earlier. Financial analysts expect that growth to accelerate throughout the year, reaching 12 percent in the final quarter, according to S&P Capital IQ.

But with much of the profit gain coming from cost-cutting rather than higher sales, some market watchers are warning that the market's four-year surge could be coming to an end.

Savita Subramanian, head of U.S. equity and quantitative strategy at Bank of America Merrill Lynch, said companies need to show revenue growth. "If we don't see that, then the equity market is toast."

Among other stocks making big moves:

Home security provider ADT fell $3, or 6.9 percent, to $40.64 after its profit didn't live up to analysts' hopes.

T-Mobile USA Inc., the combination of T-Mobile USA and MetroPCS, rose 96 cents, or 6.2 percent, to $16.52 on its first day of trading. Goldman Sachs analysts opened their coverage of the stock with a "buy" recommendation and a 12-month price target of $22, predicting that the company will benefit from further consolidation in the industry.

The Nasdaq composite index dropped 28 points, or 0.8 percent, to 3,300. The Russell 2000 index, a gauge of small-company stocks, fell 23.25 points to 924.21. Small stocks are generally seen as riskier investments because the companies are less established, have fewer resources and are more prone to failure.

In government bond trading, demand for the 10-year Treasury note rose, pushing down its yield to 1.63 percent from 1.67 percent. The yield is at its lowest of the year.

Markets in Europe were closed for the May Day holiday.

The start of the new month will also remind investors of the investing adage "Sell in May and go away."

The S&P 500 hasn't advanced in May since 2009. In recent years, stock gains at the beginning of the year have been followed by late spring-early summer swoons. In 2012, stocks plunged in May on growing concern that Spain and Italy would be sucked deeper into Europe's debt crisis. The year before, wrangling about the U.S. debt ceiling rattled markets.

Since 1970, the S&P 500 has generated an annualized return of 4.1 percent from May through October, well below the 17.2 percent annualized return from November through April.


----------



## bigdog

Source: http://finance.yahoo.com 

For the year, the Dow is still up 13 higher, the S&P 500 is up 12 percent. 

The stock market is all about jobs this week.

Stocks rose Thursday after unemployment claims fell to a five-year low. A day earlier it was just the opposite; the market slumped after companies added just 119,000 jobs in April, the fewest in seven months, according to payroll processor ADP. And stocks could swing again Friday when the government's closely watched monthly employment report is released.

"Everyone is looking to the April jobs numbers," said Tyler Vernon, chief investment officer at Biltmore Capital. "People are more confident that it was an anomaly last month and are looking for some bigger numbers."

Economists forecast that the employers added 160,000 jobs last month. Stocks slumped April 5 when the government said 88,000 jobs were added, less than half the number forecast.

Signs of increased hiring have supported this year's surge in stocks and pushed the market to record highs. The run-up has started to falter in recent weeks on concerns that the global economy is slowing. More jobs should boost consumer spending, a key driver of U.S. growth.

The Dow Jones industrial average rose 130.63 points to 14,831.58 on Thursday, an increase of 0.9 percent. The index lost 138 points a day earlier. The Standard & Poor's 500 index climbed 14.89 points, or 0.9 percent, to 1,597.59, also recovering almost all of its losses from a day earlier.

Applications for unemployment benefits fell last week to 324,000, the fewest since January 2008, the Labor department reported before the market opened.

The outlook for global growth also got a boost after the European Central bank cuts its benchmark interest rate a quarter of a percentage point to 0.5 percent

 *The NYSE DOW closed  	HIGHER ▲	130.63	points or ▲	0.89%	Thursday, 2 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,831.58	▲	130.63	▲	0.89%	
	Nasdaq___	3,340.62	▲	41.49	▲	1.26%	
	S&P_500__	1,597.59	▲	14.89	▲	0.94%	
	30_Yr_Bond	2.830	▼	-0.01	▼	-0.42%	

NYSE Volume	3,681,886,000			 		 	
Nasdaq Volume	1,719,119,250			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,460.71	▲	9.42	▲	0.15%	
	DAX_____	7,961.71	▲	48.00	▲	0.61%	
	CAC_40__	3,858.76	▲	2.01	▲	0.05%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,104.10	▼	-39.80	▼	-0.77%	
	Shanghai_Comp	2,174.12	▼	-3.79	▼	-0.17%	
	Taiwan_Weight	8,128.51	▲	34.85	▲	0.43%	
	Nikkei_225____	13,694.04	▼	-105.31	▼	-0.76%	
	Hang_Seng____	22,668.30	▼	-68.71	▼	-0.30%	
	Strait_Times___	3,400.33	▲	32.15	▲	0.95%	
	NZX_50_Index__	4,574.46	▼	-28.55	▼	-0.62%	

http://finance.yahoo.com/news/stock...M2MTYyYTM4BHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks gain after unemployment claims fall

Drop in unemployment claims boost stock market ahead of government's monthly jobs report*

By Steve Rothwell, AP Markets 

The stock market is all about jobs this week.

Stocks rose Thursday after unemployment claims fell to a five-year low. A day earlier it was just the opposite; the market slumped after companies added just 119,000 jobs in April, the fewest in seven months, according to payroll processor ADP. And stocks could swing again Friday when the government's closely watched monthly employment report is released.

"Everyone is looking to the April jobs numbers," said Tyler Vernon, chief investment officer at Biltmore Capital. "People are more confident that it was an anomaly last month and are looking for some bigger numbers."

Economists forecast that the employers added 160,000 jobs last month. Stocks slumped April 5 when the government said 88,000 jobs were added, less than half the number forecast.

Signs of increased hiring have supported this year's surge in stocks and pushed the market to record highs. The run-up has started to falter in recent weeks on concerns that the global economy is slowing. More jobs should boost consumer spending, a key driver of U.S. growth.

The Dow Jones industrial average rose 130.63 points to 14,831.58 on Thursday, an increase of 0.9 percent. The index lost 138 points a day earlier. The Standard & Poor's 500 index climbed 14.89 points, or 0.9 percent, to 1,597.59, also recovering almost all of its losses from a day earlier.

Applications for unemployment benefits fell last week to 324,000, the fewest since January 2008, the Labor department reported before the market opened.

The outlook for global growth also got a boost after the European Central bank cuts its benchmark interest rate a quarter of a percentage point to 0.5 percent.

The euro fell a penny against the dollar to $1.3060. The price of gold rose $21.40, or 1.5 percent, to $1,467.60 an ounce. The price of crude oil rose $2.96, or 3.3 percent, to $93.99 a barrel.

Higher profits from CBS, Facebook and other companies also lifted stocks Thursday.

Broadcaster CBS reported a 22 percent jump in first-quarter earnings as big events like the Super Bowl pushed advertising revenue higher. Its stock rose 95 cents, or 2 percent, to $47.35.

GM rose 98 cents, or 3.2 percent, to $31.16 after it lost less money in Europe and beat Wall Street's expectations for first-quarter profit. The automaker's earnings of 67 cents a share beat the 54 cents predicted by Wall Street analysts who follow the company.

Facebook gained $1.54, or 5.6 percent, to $28.98 after its first-quarter revenue rose 38 percent, surpassing Wall Street expectations. Nearly a third of the company's advertising revenue came from mobile devices, a greater share than analysts had expected.

The social networking site bucked the trend for companies reporting in the first quarter. Most are exceeding analysts' expectations on earnings, but falling short on revenue.

"If we continue to see several more quarters like this, investors would start to get nervous," said Andrew Milligan, head of global strategy at Standard Life Investments. He says that growth needs to pick up in the major export markets, like China and Europe, for U.S. companies to maintain earnings growth.

Facebook's earnings also boosted information technology stocks. The industry rose 1.4 percent, the most of the 10 groups in the Standard & Poor's 500 index.

Technology stocks have surged in the past two weeks, after lagging the S&P 500 in the first three months of the year. Their 5.7 percent increase in 2013 still trails the 18.5 percent gain for health care companies, the best performing industry in the index.

Seagate Technology was another technology company that gained Thursday. The company, which makes hard drives, jumped $2.69, or 7.3 percent, to $39.63, even after the company reported a slump in sales and earnings. The decline wasn't as bad as analysts had expected, though, and Seagate handily beat estimates for both sales and revenue.

Earnings at companies in the S&P 500 are at record levels. They are forecast to increase by 4.4 percent in the first quarter and keep rising throughout the year, according to S&P Capital IQ data.

Gains for technology companies helped push the technology-heavy Nasdaq composite higher. The index advanced 41.49 points, or 1.3 percent, to 3,340.62.

Stocks are rebounding after a slump Wednesday, when reports of slower manufacturing growth and hiring dragged down markets. The Dow had its worst drop in two weeks. The market was down even after the Federal Reserve Bank reaffirmed its plan to continue its stimulus program, which is now five years old.

For the year, the Dow is still up 13 higher, the S&P 500 is up 12 percent.

The gains suggest that the market is getting ahead of itself, given a lackluster outlook for the economy, said Uri Landesman of Platinum Partners. He thinks the stock market is set for a pullback.

In government bond trading, the yield on the 10-year note was unchanged at 1.63 percent, matching its low for the year. Bonds have gained as inflation remains tame


----------



## bigdog

Source: http://finance.yahoo.com 

Optimism about the economy swept through the stock market Friday, pushing two widely watched indexes past major milestones.

After weeks of mixed signals about manufacturing and earnings, a surprisingly strong U.S. jobs report gave investors confidence that the economy isn't about to falter. The market jumped from the opening bell. Traders donned party hats, and a wave of buying helped the Standard and Poor's 500 index crack the 1,600 mark for the first time. The Dow Jones industrial average broke through 15,000.

"There's euphoria today," said Stephen Carl, the head equity trader at The Williams Capital Group. "That's what you'd have to call it."

On the floor of the New York Stock Exchange, brokers sported baseball caps emblazoned with "Dow 15,000."

Jobs are crucial to keeping the stock market climbing. Big U.S. companies are making record profits, but much of that has come from cutting costs, not boosting sales. More jobs, and more consumer spending, would help.

U.S. employers added 165,000 workers last month and many more in February and March than previously estimated. The unemployment rate fell to the lowest level in four years, 7.5 percent.

The Dow rose 142.38 points to close at a record 14,973.96, up 1 percent. The S&P 500 index climbed 16.83 points, or 1 percent, to 1,614.42, also a record.

The Nasdaq composite index rose 38.01 points to 3,378.63, an increase of 1.1 percent. Still, it remains well below its dot-com peak. 

"We're breaking through psychological barriers and that will continue to bring investors off the sidelines," said Darrell Cronk, regional chief investment officer for Wells Fargo Private Bank. He called the jobs news "wonderful."

Cronk, like many others on Wall Street, has been watching individual investors for signs they may finally have shed their fear of stocks. A surge in buying from them would help push stocks higher. But individuals pulled more money out of stock mutual funds than they put in late last month, a reversal from the trend earlier this year, according to the Investment Company Institute.

They've had reasons to pull back lately.

First came news of falling retail sales in March, then a series of weak manufacturing reports and signs of an economic slowdown in China.

Other reports, including two out Friday, have pointed to a slowdown. Factory orders sank in March and a gauge of growth in the service sector fell short of estimates.

First-quarter earnings have been mixed, too. Though they've come in higher than expected, many companies have reported little or no revenue growth, which has spooked investors.

Investors have also been concerned that higher Social Security payroll taxes and sweeping government spending cuts that took effect earlier this year will slow U.S. economic growth, and pinch corporate profits.

Friday's jobs numbers suggested the private sector might be strong enough to overcome those obstacles. 

 *The NYSE DOW closed  	HIGHER ▲	142.38	points or ▲	0.96%	Friday, 3 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,973.96	▲	142.38	▲	0.96%	
	Nasdaq___	3,378.63	▲	38.01	▲	1.14%	
	S&P_500__	1,614.42	▲	16.83	▲	1.05%	
	30_Yr_Bond	2.970	▲	0.14	▲	4.88%	

NYSE Volume	3,940,418,750			 		 	
Nasdaq Volume	1,704,322,250			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,521.46	▲	60.75	▲	0.94%	
	DAX_____	8,122.29	▲	160.58	▲	2.02%	
	CAC_40__	3,912.95	▲	54.19	▲	1.40%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,105.40	▲	1.30	▲	0.03%	
	Shanghai_Comp	2,205.50	▲	31.37	▲	1.44%	
	Taiwan_Weight	8,135.03	▲	6.52	▲	0.08%	
	Nikkei_225____	13,694.04	▼	-105.31	▼	-0.76%	
	Hang_Seng____	22,689.96	▲	21.66	▲	0.10%	
	Strait_Times___	3,369.90	▼	-32.49	▼	-0.95%	
	NZX_50_Index__	4,544.32	▼	-30.14	▼	-0.66%	

http://finance.yahoo.com/news/stocks-surge-highs-hiring-climbs-171141504.html

*Stocks surge to new highs after hiring climbs

Stocks surge on Wall Street as hiring picks up; Dow crosses 15,000, S&P breaches 1,600*

By Bernard Condon, AP Business Writer

Optimism about the economy swept through the stock market Friday, pushing two widely watched indexes past major milestones.

After weeks of mixed signals about manufacturing and earnings, a surprisingly strong U.S. jobs report gave investors confidence that the economy isn't about to falter. The market jumped from the opening bell. Traders donned party hats, and a wave of buying helped the Standard and Poor's 500 index crack the 1,600 mark for the first time. The Dow Jones industrial average broke through 15,000.

"There's euphoria today," said Stephen Carl, the head equity trader at The Williams Capital Group. "That's what you'd have to call it."

On the floor of the New York Stock Exchange, brokers sported baseball caps emblazoned with "Dow 15,000."

Jobs are crucial to keeping the stock market climbing. Big U.S. companies are making record profits, but much of that has come from cutting costs, not boosting sales. More jobs, and more consumer spending, would help.

U.S. employers added 165,000 workers last month and many more in February and March than previously estimated. The unemployment rate fell to the lowest level in four years, 7.5 percent.

The Dow rose 142.38 points to close at a record 14,973.96, up 1 percent. The S&P 500 index climbed 16.83 points, or 1 percent, to 1,614.42, also a record.

"We're breaking through psychological barriers and that will continue to bring investors off the sidelines," said Darrell Cronk, regional chief investment officer for Wells Fargo Private Bank. He called the jobs news "wonderful."

Cronk, like many others on Wall Street, has been watching individual investors for signs they may finally have shed their fear of stocks. A surge in buying from them would help push stocks higher. But individuals pulled more money out of stock mutual funds than they put in late last month, a reversal from the trend earlier this year, according to the Investment Company Institute.

They've had reasons to pull back lately.

First came news of falling retail sales in March, then a series of weak manufacturing reports and signs of an economic slowdown in China.

Other reports, including two out Friday, have pointed to a slowdown. Factory orders sank in March and a gauge of growth in the service sector fell short of estimates.

First-quarter earnings have been mixed, too. Though they've come in higher than expected, many companies have reported little or no revenue growth, which has spooked investors.

Investors have also been concerned that higher Social Security payroll taxes and sweeping government spending cuts that took effect earlier this year will slow U.S. economic growth, and pinch corporate profits.

Friday's jobs numbers suggested the private sector might be strong enough to overcome those obstacles.

In its report, the government revised its previous estimate of job gains up to 332,000 in February and 138,000 in March. The economy has created an average of 208,000 jobs a month from November through April ”” above the 138,000 added in the previous six months.

"Jobs are key," said Randall Warren, chief investment officer of Warren Financial Service in Exton, Penn. "Everyone is worried about things like fiscal policy, the government spending money it doesn't have. If you want to turn that situation around, you have to get people off their couches."

On Friday, on market's gains were broad. Eight of the 10 industry groups in the S&P 500 index rose. Nearly three stocks rose for every one that fell on the NYSE.

Companies that stand to benefit most from an upturn in the economy led the market. Those that make basic materials and produce oil and gas rose the most in the S&P 500 index.

U.S. Steel rose $1.08, or 6.3 percent, to $18.14. General Electric rose 25 cents, or 1.1 percent, to $22.57. Dow Chemical rose 84 cents, or 2.5 percent, to $33.96.

Utilities, consumer-staple companies and other safe-play stocks trailed the market as investors took on more risk.

The yield on the benchmark 10-year Treasury note jumped from its lowest level of the year, as traders moved money out of the safety of government bonds. The yield rose to 1.74 percent from 1.63 percent late Thursday.

Small-company stocks are more risky than bigger companies but can also offer investors greater returns. On Friday, they outpaced the broader market. The Russell 2000 jumped 14.57 points, or 1.6 percent, to 954.42, a new all-time high.

The Nasdaq composite index rose 38.01 points to 3,378.63, an increase of 1.1 percent. Still, it remains well below its dot-com peak.

Stock markets overseas also rose on the U.S. jobs report. The main indexes in France, Germany, Spain and Brazil climbed 1 percent or better.

The S&P 500 is up 13 percent from the start of the year. The Dow is up 14 percent.

Some investors were skeptical.

Tim Biggam, chief market strategist at the brokerage TradingBlock in Chicago, said he thought the market was being driven higher by people hoping that the Federal Reserve's efforts to help the economy will keep working. Biggam said they're ignoring troublesome trends.

"This may be the time you want to avoid getting in the market in my opinion, rather than jump in," Biggam said.

Among other stocks making big moves on Friday:

”” Gilead Sciences jumped $2.97 to $55.15, a gain of 6 percent, one of the biggest gains in the S&P 500 index. The maker of HIV drugs reported a 63 percent surge in income in the first quarter thanks to lower costs and increased sales.

”” Kraft Foods rose $2.58 to $53.11, an increase of 5 percent. The food maker reported first-quarter income and revenue that beat the forecasts of Wall Street analysts as it increased sales and cut costs following its split from its global snack business.

”” LinkedIn, the professional networking social media site, sank 13 percent, losing $26.08, to $175.59. The company issued a revenue forecast for the rest of the year that was well below what financial analysts were expecting. LinkedIn went public in May 2011 at $45 a share.

0839


----------



## bigdog

Source: http://finance.yahoo.com 

Bank of America led a rally in big-bank stocks in mostly quiet trading on Monday. Stock indexes ended little changed following a record-setting run last week.

News that Bank of America and MBIA, a bond-insurance company, had reached a settlement over a long-running dispute propelled both companies' stocks up. BofA will pay $1.7 billion to MBIA and extend the troubled company a credit line.

MBIA soared 45 percent, or $4.46, to $14.29. Bank of America gained 5 percent, or 64 cents, to $12.88, making it the leading company in the Dow Jones industrial average.

The Dow slipped 5.07 points to close at 14,968.89. The Standard & Poor's 500 index crept up 3.08 points to 1,617.50, a gain of 0.2 percent.

Six of the 10 industry groups in the S&P 500 rose, with financial companies in the lead.

No major economic reports came out Monday, but a handful of companies reported their quarterly results. Tyson Foods, the nation's largest meat-processing company, fell 3 percent, the biggest drop in the Standard & Poor's 500 index, after saying its net income sank as costs for chicken feed rose. Tyson's stock lost 83 cents to $24.10.

Companies have reported solid quarterly profits so far this earnings season. Seven of every 10 big companies in the S&P 500 have beat the earnings estimates of financial analysts, according to S&P Capital IQ. But revenue has looked weak: six of 10 have missed revenue forecasts.

"Yet again, corporations continue to do more with less," said Dan Veru, the chief investment officer of Palisade Capital Management.

Veru said the trend is likely to lead to more mergers in the coming months, as cash-rich companies look for ways to raise their revenue. A wave of mergers could shift the stock market's rally into a higher gear, he said.

The stock market cleared new milestones Friday after the government reported that employers added more workers to their payrolls in recent months. The unemployment rate fell to 7.5 percent, the lowest level in four years.

That news sent the Dow through the 15,000 mark for the first time, while the S&P 500 closed above 1,600, another first.

In Monday trading, the Nasdaq composite rose 14.34 points to 3,392.97, an increase of 0.4 percent. The price of crude oil edged up 55 cents to $96.16 and gold rose $3.80 to $1,468.10 an ounce. 

 *The NYSE DOW closed  	LOWER ▼	-5.07	points or ▼	-0.03%	Monday, 6 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,968.89	▼	-5.07	▼	-0.03%	
	Nasdaq___	3,392.97	▲	14.34	▲	0.42%	
	S&P_500__	1,617.50	▲	3.08	▲	0.19%	
	30_Yr_Bond	2.990	▲	0.02	▲	0.67%	

NYSE Volume	3,290,219,500			 		 	
Nasdaq Volume	1,479,518,000			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,521.46	▲	60.75	▲	0.94%	
	DAX_____	8,112.08	▼	-10.21	▼	-0.13%	
	CAC_40__	3,907.04	▼	-5.91	▼	-0.15%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,133.80	▲	28.40	▲	0.56%	
	Shanghai_Comp	2,231.17	▲	25.67	▲	1.16%	
	Taiwan_Weight	8,169.05	▲	34.02	▲	0.42%	
	Nikkei_225____	13,694.04	▼	-105.31	▼	-0.76%	
	Hang_Seng____	22,915.09	▲	225.13	▲	0.99%	
	Strait_Times___	3,382.29	▲	12.39	▲	0.37%	
	NZX_50_Index__	4,596.23	▲	51.91	▲	1.14%	

http://finance.yahoo.com/news/bofa-leads-banks-p-500-203350705.html

*BofA leads banks up; S&P 500 index ekes out gain

Bank of America and MBIA surge; indexes barely budge following a record-setting week*

By Matthew Craft, AP Business Writer

Bank of America led a rally in big-bank stocks in mostly quiet trading on Monday. Stock indexes ended little changed following a record-setting run last week.

News that Bank of America and MBIA, a bond-insurance company, had reached a settlement over a long-running dispute propelled both companies' stocks up. BofA will pay $1.7 billion to MBIA and extend the troubled company a credit line.

MBIA soared 45 percent, or $4.46, to $14.29. Bank of America gained 5 percent, or 64 cents, to $12.88, making it the leading company in the Dow Jones industrial average.

The Dow slipped 5.07 points to close at 14,968.89. The Standard & Poor's 500 index crept up 3.08 points to 1,617.50, a gain of 0.2 percent.

Six of the 10 industry groups in the S&P 500 rose, with financial companies in the lead.

No major economic reports came out Monday, but a handful of companies reported their quarterly results. Tyson Foods, the nation's largest meat-processing company, fell 3 percent, the biggest drop in the Standard & Poor's 500 index, after saying its net income sank as costs for chicken feed rose. Tyson's stock lost 83 cents to $24.10.

Companies have reported solid quarterly profits so far this earnings season. Seven of every 10 big companies in the S&P 500 have beat the earnings estimates of financial analysts, according to S&P Capital IQ. But revenue has looked weak: six of 10 have missed revenue forecasts.

"Yet again, corporations continue to do more with less," said Dan Veru, the chief investment officer of Palisade Capital Management.

Veru said the trend is likely to lead to more mergers in the coming months, as cash-rich companies look for ways to raise their revenue. A wave of mergers could shift the stock market's rally into a higher gear, he said.

The stock market cleared new milestones Friday after the government reported that employers added more workers to their payrolls in recent months. The unemployment rate fell to 7.5 percent, the lowest level in four years.

That news sent the Dow through the 15,000 mark for the first time, while the S&P 500 closed above 1,600, another first.

In Monday trading, the Nasdaq composite rose 14.34 points to 3,392.97, an increase of 0.4 percent. The price of crude oil edged up 55 cents to $96.16 and gold rose $3.80 to $1,468.10 an ounce.

In the market for U.S. government bonds, the yield on the 10-year note inched up to 1.76 percent from 1.74 percent late Friday.

Berkshire Hathaway rose 1.3 percent, or $1.36, to $110. Warren Buffett's company turned in earnings late Friday that trumped analysts' estimates for both profit and revenue. Berkshire reported strong gains from its insurance units, Geico and General Reinsurance, its BNSF Railway company and other investments.

In a round of television interviews on Monday, Buffett said that the stock market still appears reasonably priced even though major indexes are at all-time highs. By contrast, bonds are "a terrible investment right now," he said. Buffett explained that with interest rates at historic lows, a buyer of long-term bonds is bound to take a loss when rates eventually rise.

Among other stocks in the news:

”” Sysco dropped 1 percent, or 33 cents, to $34.33, after the food distributor posted net income and revenue that fell short of analysts' estimates. Sysco's CEO said the company's sales were held back by bad weather that made people less willing to spend on meals away from home. Sysco's

”” Monster Beverage sank 2 percent after San Francisco's city attorney sued the company for allegedly marketing its caffeinated drinks to children. Last week, Monster Beverage filed a suit against the same city attorney over demands that the energy drink maker reduce the caffeine in its drinks and change its marketing practices. Monster lost $1.26 to $56.18.


----------



## bigdog

Source: http://finance.yahoo.com 

Just two months after recovering the last of its losses from the financial crisis, the Dow Jones industrial average charged higher Tuesday, closing above 15,000 for the first time.

It was another milestone in the market's epic ascent of 2013. Good economic reports, strong corporate earnings and fresh support from central banks have eased investors' concerns about another economic slowdown. Many had been on the lookout for signs that a spring swoon would derail the rally, as happened in each of the past three years.

Instead, Wall Street has climbed almost 15 percent since Jan. 1.

"The thing that's been driving stocks is rising confidence," said James Paulsen, chief investment strategist at Wells Capital Management. "Economic growth, job creation and the housing market have been better than expected."

News of stronger hiring over the past three months briefly propelled the Dow over 15,000 on Friday, but it ended the week below that mark.

Wall Street followed Japanese and European markets higher after they responded to good news about central bank stimulus and the German economy. In the U.S., the market got a lift from higher quarterly profits at satellite TV company DirecTV and watchmaker Fossil.

The Dow closed at 15,056.20, up 87.31 points, or 0.6 percent. The Standard & Poor's 500 index added 8.46 points to 1,625.96, a gain of 0.5 percent. Both indexes reached all-time highs earlier this year, then kept climbing, largely driven by optimism that the U.S. economy will continue gaining strength.

"We don't think people are giving enough credit to the strength of the economy," said Ryan Detrick, a senior technical strategist at Schaeffer's Investment Research. "We still like the market."

The gains piled up with the growing realization among investors that the traditional threats to a rising market ”” higher interest rates, falling profits, a possible recession ”” are unlikely to appear anytime soon. What's more, with interest rates near record lows, they see few other places to put their money. 

For the Dow, it was the 17th straight Tuesday of increases. The only day of the week with a longer series of consecutive gains is Wednesday, which logged a streak of 24, Detrick said.

In other trading, the Nasdaq composite rose 3.66 points to 3,396.63, up 0.1 percent. 

 *The NYSE DOW closed  	HIGHER ▲	87.31	points or ▲	0.58%	Tuesday, 7 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,056.20	▲	87.31	▲	0.58%	
	Nasdaq___	3,396.63	▲	3.66	▲	0.11%	
	S&P_500__	1,625.96	▲	8.46	▲	0.52%	
	30_Yr_Bond	3.000	▲	0.02	▲	0.54%	

NYSE Volume	3,557,621,250			 		 	
Nasdaq Volume	1,706,994,500			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,557.30	▲	35.84	▲	0.55%	
	DAX_____	8,181.78	▲	69.70	▲	0.86%	
	CAC_40__	3,921.32	▲	14.28	▲	0.37%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,122.70	▼	-11.10	▼	-0.22%	
	Shanghai_Comp	2,235.57	▲	4.41	▲	0.20%	
	Taiwan_Weight	8,163.06	▼	-5.99	▼	-0.07%	
	Nikkei_225____	14,180.24	▲	486.20	▲	3.55%	
	Hang_Seng____	23,047.09	▲	132.00	▲	0.58%	
	Strait_Times___	3,383.16	▲	0.87	▲	0.03%	
	NZX_50_Index__	4,621.73	▲	25.50	▲	0.55%	

http://finance.yahoo.com/news/stock-market-milestone-dow-15-202737590.html

*New stock market milestone: Dow 15,000

New milestone for Dow Jones industrial average: first close above 15,000 points*

By Steve Rothwell and Matt Craft,

Just two months after recovering the last of its losses from the financial crisis, the Dow Jones industrial average charged higher Tuesday, closing above 15,000 for the first time.

It was another milestone in the market's epic ascent of 2013. Good economic reports, strong corporate earnings and fresh support from central banks have eased investors' concerns about another economic slowdown. Many had been on the lookout for signs that a spring swoon would derail the rally, as happened in each of the past three years.

Instead, Wall Street has climbed almost 15 percent since Jan. 1.

"The thing that's been driving stocks is rising confidence," said James Paulsen, chief investment strategist at Wells Capital Management. "Economic growth, job creation and the housing market have been better than expected."

News of stronger hiring over the past three months briefly propelled the Dow over 15,000 on Friday, but it ended the week below that mark.

Wall Street followed Japanese and European markets higher after they responded to good news about central bank stimulus and the German economy. In the U.S., the market got a lift from higher quarterly profits at satellite TV company DirecTV and watchmaker Fossil.

The Dow closed at 15,056.20, up 87.31 points, or 0.6 percent. The Standard & Poor's 500 index added 8.46 points to 1,625.96, a gain of 0.5 percent. Both indexes reached all-time highs earlier this year, then kept climbing, largely driven by optimism that the U.S. economy will continue gaining strength.

"We don't think people are giving enough credit to the strength of the economy," said Ryan Detrick, a senior technical strategist at Schaeffer's Investment Research. "We still like the market."

The gains piled up with the growing realization among investors that the traditional threats to a rising market ”” higher interest rates, falling profits, a possible recession ”” are unlikely to appear anytime soon. What's more, with interest rates near record lows, they see few other places to put their money.

In a round of interviews on Monday, investor Warren Buffett said the stock market looked "reasonably priced" even after its surge. But, Buffett added, people pay too much attention to markets reaching new highs. They ought to pay attention when markets hit new lows.

"That's when stocks are getting cheaper," Buffett said. "That's when stocks are going on sale. But people do get more excited when they see new highs."

Record-high profits have also encouraged investors who fretted that slumping sales would lead to shrinking earnings. More than 400 of the S&P 500 companies have turned in first-quarter results, and more than seven out of 10 have beaten Wall Street's earnings expectations, according to S&P Capital IQ. Those analysts estimate that earnings increased 5 percent in the first quarter and will pick up their pace through the rest of the year.

Fossil, a maker of watches and handbags, was among the companies reporting earnings Tuesday. Its stock leapt $8.92, or 9 percent, to $107.88 after the company said higher sales lifted its earnings.

DirecTV, the country's largest provider of satellite TV services, surged $3.99, or 7 percent, to $61.95 after its earnings beat analysts' expectations. The company reported more subscribers in the U.S. and Latin America.

For the Dow, it was the 17th straight Tuesday of increases. The only day of the week with a longer series of consecutive gains is Wednesday, which logged a streak of 24, Detrick said.

In other trading, the Nasdaq composite rose 3.66 points to 3,396.63, up 0.1 percent.

Japanese stocks surged, pushing the Nikkei above 14,000 for the first time in nearly five years. The Nikkei has jumped 36 percent this year after the Bank of Japan announced a new aggressive monetary policy to get the country out of its two-decade stagnation.

In Europe, Germany's main DAX index touched a record of 8,195, bouyed by surprisingly strong industrial orders.

Detrick said he was particularly encouraged by the resurgence in smaller stocks, which suggested a broad recovery beyond larger companies. The Russell 2000 index of small companies has gained 14 percent this year.

In the market for U.S government bonds, the yield on the 10-year U.S. Treasury note edged up to 1.78 percent from 1.76 percent in late Monday trading. Optimism over the U.S. economy has yanked the yield up over the past week, as traders shift money out of the safety of the Treasury market. The yield sank to its low for the year, 1.63 percent, last Thursday.


----------



## bigdog

Source: http://finance.yahoo.com 

The Dow Jones industrial average rose, closing above 15,000 for a second day after breaching the landmark level for the first time Tuesday.

On Wednesday, a day without any major economic releases, investors focused on company earnings as reporting for the first quarter draws to a close. Although earnings growth has slowed from last quarter, profits are at record levels and projected to rise throughout the year.

Internet company AOL plunged as its subscription revenue fell, and hamburger chain Wendy's slumped after it reported revenue that fell short of Wall Street's expectations. On the positive side, high-end grocer Whole Foods and the video game publisher Electronic Arts rose sharply after predicting full-year profits that were higher than analysts were expecting.

Scott Wren, a senior equity strategist at Wells Fargo Advisors, predicted more gains in the short term, but he also said a pullback was likely at some point because the rise in the market is beginning to overstate the improvement in the economy.

"We're still going to keep grinding higher," Wren said. But, he added: "I do think the market is ahead of itself."

Stocks have defied predictions that a sell-off would follow the spring surge as signs emerged that growth could be set for a slowdown. Both the Dow and the Standard & Poor's 500 index have gained every month of the year and are trading at record highs. 

The Dow closed up 48.92 points, or 0.3 percent, at 15,105.12. The index is 15.3 percent higher for the year. The S&P 500 index was 6.73 points higher, or 0.4 percent, at 1,632.69, extending its advance for 2013 to 14.5 percent.

About 90 percent of companies in the S&P 500 index have reported their earnings for the first quarter. 

 *The NYSE DOW closed  	HIGHER ▲	48.92	points or ▲	0.32%	Wednesday, 8 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,105.12	▲	48.92	▲	0.32%	
	Nasdaq___	3,413.27	▲	16.64	▲	0.49%	
	S&P_500__	1,632.69	▲	6.73	▲	0.41%	
	30_Yr_Bond	2.978	▼	-0.02	▼	-0.80%	

NYSE Volume	3,797,207,000			 		 	
Nasdaq Volume	1,715,862,500			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,583.48	▲	26.18	▲	0.40%	
	DAX_____	8,249.71	▲	67.93	▲	0.83%	
	CAC_40__	3,956.28	▲	34.96	▲	0.89%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,177.90	▲	55.20	▲	1.08%	
	Shanghai_Comp	2,246.30	▲	10.73	▲	0.48%	
	Taiwan_Weight	8,267.09	▲	104.03	▲	1.27%	
	Nikkei_225____	14,285.69	▲	105.45	▲	0.74%	
	Hang_Seng____	23,244.35	▲	197.26	▲	0.86%	
	Strait_Times___	3,413.44	▲	30.28	▲	0.90%	
	NZX_50_Index__	4,640.28	▲	18.55	▲	0.40%	

http://finance.yahoo.com/news/dow-average-gains-holds-15-203839519.html

*Dow average gains, holds on to 15,000 level

Dow Jones industrial average holds above 15,000; Whole Foods, Electronic Arts gain*

By Steve Rothwell, AP Markets Writer

The Dow Jones industrial average rose, closing above 15,000 for a second day after breaching the landmark level for the first time Tuesday.

On Wednesday, a day without any major economic releases, investors focused on company earnings as reporting for the first quarter draws to a close. Although earnings growth has slowed from last quarter, profits are at record levels and projected to rise throughout the year.

Internet company AOL plunged as its subscription revenue fell, and hamburger chain Wendy's slumped after it reported revenue that fell short of Wall Street's expectations. On the positive side, high-end grocer Whole Foods and the video game publisher Electronic Arts rose sharply after predicting full-year profits that were higher than analysts were expecting.

Scott Wren, a senior equity strategist at Wells Fargo Advisors, predicted more gains in the short term, but he also said a pullback was likely at some point because the rise in the market is beginning to overstate the improvement in the economy.

"We're still going to keep grinding higher," Wren said. But, he added: "I do think the market is ahead of itself."

Stocks have defied predictions that a sell-off would follow the spring surge as signs emerged that growth could be set for a slowdown. Both the Dow and the Standard & Poor's 500 index have gained every month of the year and are trading at record highs.

On Wednesday, AOL plunged $3.68, or 8.9 percent, to $37.74 after the company reported earnings that fell short of the forecasts of Wall Street analysts who follow the stock. Subscription revenue fell 9 percent.

Wendy's fell 34 cents, or 5.6 percent, to $5.78 after it reported a 2 percent rise in revenue to $603.7 million, short of the $615 million forecast of analysts.

Materials and information technology companies gained the most of the 10 industry groups in the S&P 500 index, rising 0.9 percent and 0.8 percent respectively. The two industry groups have surged in the last month and are finding favor with investors after lagging the index for the first three months of the year.

That suggests that investors are moving from the so-called defensive stocks ”” those which offer good dividends and can grow regardless of the state of the economy ”” into industries that will benefit more if the economy accelerates. Gains for the year so far have been led by health care stocks, which have advanced 19 percent, compared with 8 percent for technology companies.

"We're seeing some sector rotation," said Chris Bertelsen, the Chief Investment Officer of Global Financial Private Capital. Defensive stocks "have had a huge run this year ... I think you are seeing some change of attitude in the market."

The Dow closed up 48.92 points, or 0.3 percent, at 15,105.12. The index is 15.3 percent higher for the year. The S&P 500 index was 6.73 points higher, or 0.4 percent, at 1,632.69, extending its advance for 2013 to 14.5 percent.

About 90 percent of companies in the S&P 500 index have reported their earnings for the first quarter.

Financial analysts predict that earnings will end up rising 5.1 percent versus the same period a year ago, according to S&P Capital IQ. Although that's slower growth than the 7.7 percent growth of the previous quarter, they are expected to grow 12 percent by the fourth quarter of 2013.

Whole Foods climbed $9.39, or 10.1 percent, to $102.19 after the natural foods store chain said its fiscal second-quarter net income rose 20 percent. The company also raised its profit forecast for the full year.

Electronic Arts, which makes the Madden Football games and SimCity, jumped $3.15, or 17.1 percent, to $21.56 after it projected profits for the current fiscal year that were higher than analysts were expecting.

In other trading, the Nasdaq composite gained 16.64 points, or 0.5 percent, to 3,413.27. The Russell 2000, an index of smaller stocks, rose 2.59 points, or 0.3 percent, to 970.41.

Freight transporter C.H. Robinson Worldwide was the biggest decliner in the S&P 500 index, falling $4.30, or 7 percent, to $57.26 after the company said that its profit margins were being squeezed.

In government bond trading, the yield on the 10-year Treasury note was little changed at 1.77 percent. The yield has climbed from 1.63, its lowest of the year, last week after a surprisingly strong employment report Friday.

In commodities trading, the price of crude oil rose $1, or 1 percent, to $96.62 a barrel and gold climbed $24.90, or 1.7 percent, to $1,473.70 an ounce.

The dollar fell against the euro and ended the day higher against the yen.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market pulled back from record levels Thursday as investors became harder to please.

Even a decline in the number of Americans applying for unemployment benefits failed to give stock prices a boost. Markets drifted lower in early trading, moved between gains and losses in the afternoon, then ended slightly lower. The Standard & Poor's 500 index had its first loss since May 1.

Unemployment claims dropped to a five-year low last week, the Labor department reported early Thursday. That signals fewer layoffs and possibly more hiring.

While the report failed to boost stocks, it did give the dollar a lift. The U.S. currency climbed against most major currencies and traded above 100 yen for the first time in more than four years. The Japanese currency has weakened dramatically this year due to the Bank of Japan's massive monetary stimulus.

An improvement in hiring at U.S. employers has been one of the key factors that pushed stocks up to record levels. The Dow Jones industrial average climbed above 15,000 for the first time Tuesday and is on track to notch six straight months of gains. The S&P 500 index also closed at a record high Wednesday.

The bar for economic news and corporate earnings has risen as stock prices have marched higher, said JJ Kinahan, chief derivative strategist at TD Ameritrade. "You have to beat by a lot to really move the market higher," Kinahan said.

Rising corporate earnings, another key support for the stock market, were also in focus on Thursday. 

The Dow fell 22.5 points, or 0.2 percent, to 15,082.62. The S&P 500 index dropped 6.02 points, or 0.4 percent, to 1,626.67.

So far, markets have defied expectations for a slowdown heading into the summer.

The S&P 500 index has started the second quarter well, gaining 1.8 percent so far in the period. The index has declined in the second quarter in each of the past three years. Stocks slumped last year in the May-through-June period as Europe's debt crisis intensified, and in 2011 they dipped as wrangling in Washington pushed the U.S. to the brink of default. 

The Nasdaq composite index, which is heavily weighted with technology stocks, fell 4.10 points, or 0.1 percent, to 3,409.17.

 *The NYSE DOW closed  	LOWER ▼	-22.50	points or ▼	-0.15%	Thursday, 9 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,082.62	▼	-22.50	▼	-0.15%	
	Nasdaq___	3,409.17	▼	-4.10	▼	-0.12%	
	S&P_500__	1,626.67	▼	-6.02	▼	-0.37%	
	30_Yr_Bond	2.997	▲	0.02	▲	0.64%	

NYSE Volume	3,772,995,000			 		 	
Nasdaq Volume	1,790,748,250			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,592.74	▲	9.26	▲	0.14%	
	DAX_____	8,262.55	▲	12.84	▲	0.16%	
	CAC_40__	3,928.58	▼	-27.70	▼	-0.70%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,180.60	▲	2.70	▲	0.05%	
	Shanghai_Comp	2,232.97	▼	-13.33	▼	-0.59%	
	Taiwan_Weight	8,285.89	▲	18.80	▲	0.23%	
	Nikkei_225____	14,191.48	▼	-94.21	▼	-0.66%	
	Hang_Seng____	23,211.48	▼	-32.87	▼	-0.14%	
	Strait_Times___	3,431.58	▲	18.56	▲	0.54%	
	NZX_50_Index__	4,639.33	▼	-0.94	▼	-0.02%	

http://finance.yahoo.com/news/stocks-pull-back-record-levels-204153539.html

*Stocks pull back from record levels on Wall Street

Stocks pull back from record levels on Wall Street as a market advance slows*

By Steve Rothwell, AP Markets Writer 

The stock market pulled back from record levels Thursday as investors became harder to please.

Even a decline in the number of Americans applying for unemployment benefits failed to give stock prices a boost. Markets drifted lower in early trading, moved between gains and losses in the afternoon, then ended slightly lower. The Standard & Poor's 500 index had its first loss since May 1.

Unemployment claims dropped to a five-year low last week, the Labor department reported early Thursday. That signals fewer layoffs and possibly more hiring.

While the report failed to boost stocks, it did give the dollar a lift. The U.S. currency climbed against most major currencies and traded above 100 yen for the first time in more than four years. The Japanese currency has weakened dramatically this year due to the Bank of Japan's massive monetary stimulus.

An improvement in hiring at U.S. employers has been one of the key factors that pushed stocks up to record levels. The Dow Jones industrial average climbed above 15,000 for the first time Tuesday and is on track to notch six straight months of gains. The S&P 500 index also closed at a record high Wednesday.

The bar for economic news and corporate earnings has risen as stock prices have marched higher, said JJ Kinahan, chief derivative strategist at TD Ameritrade. "You have to beat by a lot to really move the market higher," Kinahan said.

Rising corporate earnings, another key support for the stock market, were also in focus on Thursday.

”” Tesla Motors soared $13.61, or 24 percent, to $69.40, after the electric car maker posted its first quarterly net profit since it was founded a decade ago.

”” Green Mountain Coffee Roasters surged $16.56, or 27.8 percent, to $76.04 after the company reported late Wednesday that its net income rose 42 percent. It also raised its earnings forecast for the full year.

”” Monster Beverage, the maker of energy drinks, fell $2.96, or 5 percent, to $54.01, after it reported net income that fell short of analysts' estimates. The company's profits fell 17 percent, despite stronger sales, because of unfavorable currency rates, legal expenses and costs tied to distribution agreements.

Almost 90 percent of the companies in the S&P 500 index have reported earnings for the first quarter. Earnings are projected to rise 5 percent for the period and continue climbing throughout the year, according to S&P Capital IQ.

The Dow fell 22.5 points, or 0.2 percent, to 15,082.62. The S&P 500 index dropped 6.02 points, or 0.4 percent, to 1,626.67.

So far, markets have defied expectations for a slowdown heading into the summer.

The S&P 500 index has started the second quarter well, gaining 1.8 percent so far in the period. The index has declined in the second quarter in each of the past three years. Stocks slumped last year in the May-through-June period as Europe's debt crisis intensified, and in 2011 they dipped as wrangling in Washington pushed the U.S. to the brink of default.

"The market has had a phenomenal run," said Ron Florance, managing director of investment strategy at Wells Fargo Private Bank. "We'll have to see how the second quarter plays out."

In government bond trading, the yield on the 10-year note continued to rise, climbing to 1.82 percent from 1.77 percent on Wednesday. The yield, which moves inversely to the bond's price, has risen sharply since early Friday, when it traded as low as 1.63 percent, its lowest level of the year.

On Friday morning the government reported a sharp pickup in hiring over the past three months, which encouraged investors to sell low-risk assets like U.S. government debt, pushing the yield on the bonds higher.

The price of crude oil fell 23 cents, or 0.2 percent, $96.39 and gold fell $5.10, or 0.3 percent, to $1,468.60.

The dollar traded above 100 yen for the first time in more than four years. The Japanese currency has weakened dramatically this year, falling almost 15 percent against the dollar.

The dollar also rose against the euro and the British pound. The dollar index, which measures the strength of the dollar against a group of currencies, rose 0.8 points, or 1 percent, to 82.71.

The U.S. currency is strengthening in part because the Federal Reserve is becoming optimistic about the outlook for the economy, while other central banks around the world are increasing their efforts to stimulate their economies. The Fed is currently buying $85 billion a month to hold down long-term interest rates and encourage borrowing and spending.

"Between the U.S. economy improving and the Federal Reserve thinking about tapering asset purchases, which is a different direction to which other central banks are moving, that's going to keep the dollar in demand," said Kathy Lien, managing director of FX strategy at BK Asset Management.

The Nasdaq composite index, which is heavily weighted with technology stocks, fell 4.10 points, or 0.1 percent, to 3,409.17.

Among other stocks making big moves, Barnes & Noble surged $4.31, or 24.3 percent, to $22.08 after the technology news blog TechCrunch reported that Microsoft was considering acquiring the book retailer's digital book venture Nook Media for $1 billion.


----------



## bigdog

Source: http://finance.yahoo.com 

Small was beautiful this week.

The Dow Jones industrial average closed above 15,000 for the first time on Tuesday, then held above that milestone for the next three days. But an index of small-company stocks put the blue-chip gauge to shame week. On Friday, the Russell 2000 closed the week up 2.2 percent, more than double the Dow's gain.

Investors are in love with small stocks because they stand a greater chance of surging ahead than large, global companies do if the U.S. economy continues to fare better than Europe and Asia.

"GDP growth was 2.5 percent in the first quarter ”” not spectacular, but better than Europe," said Joseph Tanious, global market strategist of J.P. Morgan Funds. "Europe is sucking wind."

On Friday, the Dow, an index of 30 large-company stocks including global giants like IBM and Caterpillar, rose 35.87 points to close at 15,118.49 after flitting between gains and losses most of the day.

The Dow's meager gain of 0.2 percent was trumped by the 0.9 percent advance in the Russell 2000. The small-company index rose 8.90 points to 975.16. Both indexes, as well as the Standard & Poor's 500, closed at record highs. All three rose for a third straight week.

The sharp increase in small-company stocks is also a sign that investors are more willing to take on risk. Small stocks can offer investors greater returns, but they are also more volatile than large stocks.

Dow stocks were held back by falling commodity prices. Exxon Mobil, Chevron and Alcoa ”” all Dow members whose fortunes are tied to the prices of crude oil and other basic materials ”” closed down 1 percent or more.

The price of commodities including crude oil and gold fell sharply as the dollar strengthened against other currencies, especially the Japanese yen. When the dollar rises against other currencies, it tends to weaken demand for commodities. Since commodities are priced in dollars, buyers using other currencies get less for their money when the dollar appreciates, and they respond by buying less.

Stocks have benefited from record-high corporate profits. Nearly all companies in the S&P 500 have reported first quarter earnings. The average net income for companies in the index is expected to rise 5 percent, according to S&P Capital IQ, a research firm.

"The talk at the end of April was company earnings are slowing," said Gary Flam, who manages stock portfolios at Bel Air Investment Advisors. "But clearly that's not been the case in the first ten days."

The S&P rose every day since the beginning of the month until Thursday, when it fell six points.

Flam speculates that stocks are rising partly because investors have shifted from fear to greed.

"The last few years, risk was defined as losing money," he said. "The last few months, it's been defined as not making money."

In another sign that investors were embracing risk, prices for ultra-safe U.S. government bonds fell, sending their yields higher. The yield on the benchmark 10-year Treasury note rose sharply, to 1.90 percent from 1.81 percent late Thursday.

The gains in the stock market were broad. Nine of the ten industry groups in the S&P 500 index were higher. Health care stocks rose the most, 1.1 percent.

The Nasdaq composite index was up 27.41 points, or 0.8 percent, to close at 3,436.58. 

 *The NYSE DOW closed  	HIGHER ▲	35.87	points or ▲	0.24%	Friday, 10 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,118.49	▲	35.87	▲	0.24%	
	Nasdaq___	3,436.58	▲	27.41	▲	0.80%	
	S&P_500__	1,633.70	▲	7.03	▲	0.43%	
	30_Yr_Bond	3.104	▲	0.11	▲	3.57%	

NYSE Volume	3,310,894,750			 		 	
Nasdaq Volume	1,664,478,380			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,624.98	▲	32.24	▲	0.49%	
	DAX_____	8,278.59	▲	16.04	▲	0.19%	
	CAC_40__	3,953.83	▲	25.25	▲	0.64%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,191.10	▲	10.50	▲	0.20%	
	Shanghai_Comp	2,246.83	▲	13.86	▲	0.62%	
	Taiwan_Weight	8,280.26	▼	-5.63	▼	-0.07%	
	Nikkei_225____	14,607.54	▲	416.06	▲	2.93%	
	Hang_Seng____	23,321.22	▲	109.74	▲	0.47%	
	Strait_Times___	3,443.77	▲	10.99	▲	0.32%	
	NZX_50_Index__	4,652.78	▲	13.44	▲	0.29%	

http://finance.yahoo.com/news/u-stocks-rise-third-week-211042975.html

*U.S stocks rise for third week in a row

Stock market rises for a third week in a row, led by small-company stocks*

By Bernard Condon, AP Business Writer

Small was beautiful this week.

The Dow Jones industrial average closed above 15,000 for the first time on Tuesday, then held above that milestone for the next three days. But an index of small-company stocks put the blue-chip gauge to shame week. On Friday, the Russell 2000 closed the week up 2.2 percent, more than double the Dow's gain.

Investors are in love with small stocks because they stand a greater chance of surging ahead than large, global companies do if the U.S. economy continues to fare better than Europe and Asia.

"GDP growth was 2.5 percent in the first quarter ”” not spectacular, but better than Europe," said Joseph Tanious, global market strategist of J.P. Morgan Funds. "Europe is sucking wind."

On Friday, the Dow, an index of 30 large-company stocks including global giants like IBM and Caterpillar, rose 35.87 points to close at 15,118.49 after flitting between gains and losses most of the day.

The Dow's meager gain of 0.2 percent was trumped by the 0.9 percent advance in the Russell 2000. The small-company index rose 8.90 points to 975.16. Both indexes, as well as the Standard & Poor's 500, closed at record highs. All three rose for a third straight week.

The sharp increase in small-company stocks is also a sign that investors are more willing to take on risk. Small stocks can offer investors greater returns, but they are also more volatile than large stocks.

Dow stocks were held back by falling commodity prices. Exxon Mobil, Chevron and Alcoa ”” all Dow members whose fortunes are tied to the prices of crude oil and other basic materials ”” closed down 1 percent or more.

The price of commodities including crude oil and gold fell sharply as the dollar strengthened against other currencies, especially the Japanese yen. When the dollar rises against other currencies, it tends to weaken demand for commodities. Since commodities are priced in dollars, buyers using other currencies get less for their money when the dollar appreciates, and they respond by buying less.

Stocks have benefited from record-high corporate profits. Nearly all companies in the S&P 500 have reported first quarter earnings. The average net income for companies in the index is expected to rise 5 percent, according to S&P Capital IQ, a research firm.

"The talk at the end of April was company earnings are slowing," said Gary Flam, who manages stock portfolios at Bel Air Investment Advisors. "But clearly that's not been the case in the first ten days."

The S&P rose every day since the beginning of the month until Thursday, when it fell six points.

Flam speculates that stocks are rising partly because investors have shifted from fear to greed.

"The last few years, risk was defined as losing money," he said. "The last few months, it's been defined as not making money."

In another sign that investors were embracing risk, prices for ultra-safe U.S. government bonds fell, sending their yields higher. The yield on the benchmark 10-year Treasury note rose sharply, to 1.90 percent from 1.81 percent late Thursday.

The gains in the stock market were broad. Nine of the ten industry groups in the S&P 500 index were higher. Health care stocks rose the most, 1.1 percent.

The Nasdaq composite index was up 27.41 points, or 0.8 percent, to close at 3,436.58.

One dollar was worth 101.58 yen, more than the 100.54 yen it bought late Thursday. The yen has been weakening since last fall as the Bank of Japan floods the Japanese economy with cash in an effort to shake the country out of a two-decade slump.

Japanese stocks surged. A weaker yen is a boon to Japanese exporters of cars, electronics and other goods because they can charge cheaper prices in overseas markets. Tokyo's benchmark Nikkei 225 index jumped 2.9 percent to close at 14,607, its highest level since January 2008.

Prices for crude oil and gold fell. Crude fell 35 cents to $96.04 a barrel in New York, a loss of 0.4 percent. Gold fell $32 to $1,436 an ounce, or 2.2 percent.

Among stocks in the news:

”” Priceline.com and chip maker Nvidia both rose about 4 percent after reporting higher earnings. Priceline jumped $27.91 to $765 and Nvidia was up 63 cents to $14.54.

”” Clothing store chain Gap rose after reporting higher sales in April and predicting first-quarter earnings that were higher than financial analysts expected. Gap rose $2.18 to $40.99, or 5.6 percent.

”” True Religion Apparel, known for high-priced jeans, rose $2.38, or 8 percent, to $31.82 after announcing it had agreed to a buyout offer of about $826 million from the investment management firm TowerBrook Capital Partners LP.

”” Dell climbed after activist investor Carl Icahn and another big investor fighting founder Michael Dell's offer to take the company private launched another broadside against the plan. In a letter to Dell's board, they proposed a deal that would keep the company public and pay shareholders cash or stock worth $12 a share. Dell rose 13 cents, or 1 percent, to $13.45 per share.

1290


----------



## bigdog

Source: http://finance.yahoo.com 

A record-breaking rally in stocks paused Monday as investors assessed whether stock valuations were overstating the recent improvement in the economy.

The latest positive data, out Monday, showed that Americans increased spending at retailers last month. That suggests that consumers may boost economic growth in the current quarter ending June 30. Still, that wasn't enough to lift shares.

"What we have seen is a huge rally, and there aren't any stones unturned at this point," said Alec Young, global equity strategist at S&P Capital IQ. "You reach a point where investors aren't willing to bid things up any more."

Stocks have surged this year, boosted by an improving economy, Federal Reserve stimulus and record corporate earnings. Signs that the housing market is reviving are also supporting stocks. The Dow Jones industrial average and the Standard and Poor's 500 index both closed at record highs Friday.

Oil fell 87 cents, or 0.9 percent, to $95.17 a barrel. Gold dropped $2.30, or 0.2 percent, to $1,434.30 an ounce. The U.S. dollar was little changed against the Japanese yen at 101.83 and gained against the euro.

Retail sales increased 0.1 percent in April from March, the Commerce Department said Monday. That's an improvement from the 0.5 percent decline in March, which was the largest drop in nine months. Economists had forecast that sales declined by 0.3 percent.

Consumer sentiment is improving as the housing market recovers, which is giving people the confidence to spend more, said Doug Cote, chief market strategist at ING Investment Management.

"If housing continues its upward trajectory, the animal spirits of the consumer will continue to be bolstered," said Cote.

On Monday, stocks started lower before paring some of those losses throughout the day.

The Dow fell 26.81 points, or 0.2 percent, to 15,091.68. The S&P 500 index was little changed at 1,633.77. The Dow is up 15.1 percent this year, and the S&P 500 is 14.6 percent higher. 

The Nasdaq composite rose 2.21 points, 0.1 percent, to 3,438.79. 

 *The NYSE DOW closed  	LOWER ▼	-26.81	points or ▼	-0.18%	Monday, 13 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,091.68	▼	-26.81	▼	-0.18%	
	Nasdaq___	3,438.79	▲	2.21	▲	0.06%	
	S&P_500__	1,633.77	▲	0.07	▲	0.00%	
	30_Yr_Bond	3.129	▲	0.03	▲	0.81%	

NYSE Volume	3,124,651,000			 		 	
Nasdaq Volume	1,613,259,250			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,631.76	▲	6.78	▲	0.10%	
	DAX_____	8,279.29	▲	0.70	▲	0.01%	
	CAC_40__	3,945.20	▼	-8.63	▼	-0.22%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,194.80	▲	3.70	▲	0.07%	
	Shanghai_Comp	2,241.92	▼	-4.91	▼	-0.22%	
	Taiwan_Weight	8,248.32	▼	-31.94	▼	-0.39%	
	Nikkei_225____	14,782.21	▲	174.67	▲	1.20%	
	Hang_Seng____	22,989.81	▼	-331.41	▼	-1.42%	
	Strait_Times___	3,428.96	▼	-14.81	▼	-0.43%	
	NZX_50_Index__	4,671.64	▲	18.86	▲	0.41%	

http://finance.yahoo.com/news/stock-market-rally-pauses-monday-203251314.html

*Stock market rally pauses on Monday

Stock markets mixed; record-breaking rally takes pause even as retail sales unexpectedly rise*

By Steve Rothwell, Markets Writer

A record-breaking rally in stocks paused Monday as investors assessed whether stock valuations were overstating the recent improvement in the economy.

The latest positive data, out Monday, showed that Americans increased spending at retailers last month. That suggests that consumers may boost economic growth in the current quarter ending June 30. Still, that wasn't enough to lift shares.

"What we have seen is a huge rally, and there aren't any stones unturned at this point," said Alec Young, global equity strategist at S&P Capital IQ. "You reach a point where investors aren't willing to bid things up any more."

Stocks have surged this year, boosted by an improving economy, Federal Reserve stimulus and record corporate earnings. Signs that the housing market is reviving are also supporting stocks. The Dow Jones industrial average and the Standard and Poor's 500 index both closed at record highs Friday.

Oil fell 87 cents, or 0.9 percent, to $95.17 a barrel. Gold dropped $2.30, or 0.2 percent, to $1,434.30 an ounce. The U.S. dollar was little changed against the Japanese yen at 101.83 and gained against the euro.

Retail sales increased 0.1 percent in April from March, the Commerce Department said Monday. That's an improvement from the 0.5 percent decline in March, which was the largest drop in nine months. Economists had forecast that sales declined by 0.3 percent.

Consumer sentiment is improving as the housing market recovers, which is giving people the confidence to spend more, said Doug Cote, chief market strategist at ING Investment Management.

"If housing continues its upward trajectory, the animal spirits of the consumer will continue to be bolstered," said Cote.

On Monday, stocks started lower before paring some of those losses throughout the day.

The Dow fell 26.81 points, or 0.2 percent, to 15,091.68. The S&P 500 index was little changed at 1,633.77. The Dow is up 15.1 percent this year, and the S&P 500 is 14.6 percent higher.

Telecommunications companies dropped the most of any industry group in the S&P 500 index, falling 0.83 percent. Health care companies advanced the most, rising 0.7 percent.

Health care companies have risen 21.4 percent this year, the most of any of the 10 industry groups in the S&P 500. Investors have been buying the stocks because they offer some growth prospects and also pay large dividends.

More than 90 percent of companies in the S&P 500 have reported earnings for the first quarter, and corporate earnings are projected to grow by an average of 5 percent for the period, according to data from S&P Capital IQ. While earnings growth has slowed from the previous quarter, it is forecast to end the year at 11.6 percent.

Among stocks making big moves:

”” Yum Brands fell $1.44, or 2 percent, to $68.92 after the owner of Kentucky Fried Chicken reported that sales in China fell 29 percent last month, driven by concerns about Avian flu.

”” Theravance, a biopharmaceutical company, surged $6.26, or 18 percent, to $41.20. Irish drugmaker Elan Corp. plans to pay $1 billion for the right to future royalties from respiratory treatments being developed by Theravance and GlaxoSmithKline.

”” Autozone, a retailer of spare parts for cars, fell $5.19, or 1.2 percent, to $415.76 after Deutsche Bank cut its recommendation on the stock from "buy" to "hold."

In government bond trading, the yield on the 10-year Treasury note rose to 1.92 percent from 1.90 percent. The yield, which moves opposite to the price, has jumped this month as investors sold Treasurys and moved into riskier assets.

The Nasdaq composite rose 2.21 points, 0.1 percent, to 3,438.79.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market marched back into record territory as investors seized on the latest encouraging news about the economy. On Tuesday, it was a report on the health of small businesses.

Small business owners were slightly more optimistic in April, according to a survey by the National Federation of Independent Business. That helped push the Russell 2000, an index of small-company stocks, up 1.3 percent, ahead of other major indexes.

"Small businesses are in many ways the backbone of the economy ... to see that index move up was a positive surprise," said Quincy Krosby, market strategist for Prudential Financial. "Overall, the market wants to move higher and it's hard to fight that."

The Russell index is 16.1 percent higher since the start of the year, and is up more than the Standard & Poor's 500 index, which includes larger, global companies. Small stocks are doing well partly because they are more focused on the U.S., which is recovering, and don't get as much revenue from recession-plagued Europe as larger companies do.

The advance in small-company stocks is another sign of how optimistic investors have become. Smaller stocks are more risky than large ones, but also offer investors the prospect of greater returns.

Another closely watched stock market indicator has also been on a tear: transportation stocks. The Dow Transport average rose 1.9 percent Tuesday and is up 21.8 percent this year, far more than other major indexes. Investors often see these stocks as an indication of where the economy is going. When companies make and ship more goods, the thinking goes, truckers, airlines and railways have more business.

The market rose from the opening of trading and climbed steadily throughout the day. The Dow rose 123.57 points, or 0.8 percent, to 15,215.25. The S&P 500 index rose 16.57 points, or 1 percent, to 1,650.34. Both are at all-time highs.

The Dow has gained for 18 straight Tuesdays. The only day with a longer streak of consecutive gains is Wednesday, with 24 back in 1968, according to Schaeffer's Investment Research.

May has been a strong month for the market. The S&P has risen eight out of the past nine days, the Russell and Dow Transportation average have risen seven.

The prospect of continued stimulus from the Federal Reserve has also supported the market's run-up. For stock investors, the U.S. economy is "not too hot, not too cold," says Michael Sheldon, chief market strategist at RDM Financial. It's weak enough that the Fed will continue its $85 billion-a-month economic stimulus program, but strong enough for companies to generate healthy earnings.

"There is a lot of momentum in the market right now," says Sheldon. "It's largely being fueled by the Federal Reserve and modest growth in the U.S." 

 *The NYSE DOW closed  	HIGHER ▲	123.57	points or ▲	0.82%	Tuesday, 14 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,215.25	▲	123.57	▲	0.82%	
	Nasdaq___	3,462.61	▲	23.82	▲	0.69%	
	S&P_500__	1,650.34	▲	16.57	▲	1.01%	
	30_Yr_Bond	3.160	▲	0.03	▲	1.09%	

NYSE Volume	3,744,725,750			 		 	
Nasdaq Volume	1,817,839,250			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,686.06	▲	54.30	▲	0.82%	
	DAX_____	8,339.11	▲	59.82	▲	0.72%	
	CAC_40__	3,966.06	▲	20.86	▲	0.53%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,202.50	▲	7.70	▲	0.15%	
	Shanghai_Comp	2,217.01	▼	-24.91	▼	-1.11%	
	Taiwan_Weight	8,251.82	▲	3.50	▲	0.04%	
	Nikkei_225____	14,758.42	▼	-23.79	▼	-0.16%	
	Hang_Seng____	22,930.28	▼	-59.53	▼	-0.26%	
	Strait_Times___	3,432.76	▲	3.80	▲	0.11%	
	NZX_50_Index__	4,645.85	▼	-25.78	▼	-0.55%	

http://finance.yahoo.com/news/stock-market-rises-back-record-210348739.html

*Stock market rises back into record territory

Stock market rises back into record territory; small-company and transportation stocks surge*

By Steve Rothwell, AP Markets Writer

The stock market marched back into record territory as investors seized on the latest encouraging news about the economy. On Tuesday, it was a report on the health of small businesses.

Small business owners were slightly more optimistic in April, according to a survey by the National Federation of Independent Business. That helped push the Russell 2000, an index of small-company stocks, up 1.3 percent, ahead of other major indexes.

"Small businesses are in many ways the backbone of the economy ... to see that index move up was a positive surprise," said Quincy Krosby, market strategist for Prudential Financial. "Overall, the market wants to move higher and it's hard to fight that."

The Russell index is 16.1 percent higher since the start of the year, and is up more than the Standard & Poor's 500 index, which includes larger, global companies. Small stocks are doing well partly because they are more focused on the U.S., which is recovering, and don't get as much revenue from recession-plagued Europe as larger companies do.

The advance in small-company stocks is another sign of how optimistic investors have become. Smaller stocks are more risky than large ones, but also offer investors the prospect of greater returns.

Another closely watched stock market indicator has also been on a tear: transportation stocks. The Dow Transport average rose 1.9 percent Tuesday and is up 21.8 percent this year, far more than other major indexes. Investors often see these stocks as an indication of where the economy is going. When companies make and ship more goods, the thinking goes, truckers, airlines and railways have more business.

The market rose from the opening of trading and climbed steadily throughout the day. The Dow rose 123.57 points, or 0.8 percent, to 15,215.25. The S&P 500 index rose 16.57 points, or 1 percent, to 1,650.34. Both are at all-time highs.

The Dow has gained for 18 straight Tuesdays. The only day with a longer streak of consecutive gains is Wednesday, with 24 back in 1968, according to Schaeffer's Investment Research.

May has been a strong month for the market. The S&P has risen eight out of the past nine days, the Russell and Dow Transportation average have risen seven.

The prospect of continued stimulus from the Federal Reserve has also supported the market's run-up. For stock investors, the U.S. economy is "not too hot, not too cold," says Michael Sheldon, chief market strategist at RDM Financial. It's weak enough that the Fed will continue its $85 billion-a-month economic stimulus program, but strong enough for companies to generate healthy earnings.

"There is a lot of momentum in the market right now," says Sheldon. "It's largely being fueled by the Federal Reserve and modest growth in the U.S."

The U.S. economy grew 2.5 percent in the first quarter. While hiring has picked up, the unemployment rate is still at 7.5 percent, above the 6.5 percent rate that the Federal Reserve is targeting. As a result the central bank is expected to keep buying bonds to hold down long-term interest rates and encourage more borrowing and spending.

Earnings of companies in the S&P 500 index, meanwhile, are expected to rise 5 percent in the first quarter, and grow even faster in the second half of the year, according to S&P Capital IQ.

All 10 industry groups in the S&P 500 index rose, led by a 1.7 percent increase in banks and insurers. Financial stocks are up the most in the past month, 6.1 percent.

Bank of America climbed to its highest in more than two years. The stock rose 36 cents, or 2.8 percent, to $13.34. JPMorgan rose 56 cents, or 1.1 percent, to $50.23.

The Dow has risen 16.1 percent this year, the S&P 500 index 15.7 percent.

The Nasdaq composite index rose 23.82 points, or 0.7 percent, to 3,462.61. The Dow Transport index, which many investors consider a gauge of future economic activity, rose 121.78 points, or 1.9 percent, to 6,445.78.

BIG MOVERS IN STOCKS:

”” Sony's U.S.-listed shares jumped 10 percent after hedge fund manager Daniel Loeb called for the company to sell part of its entertainment business and use the money to shore up its struggling electronics operation. The stock rose $1.87 to $20.76.

TREASURYS:

In government bond trading, the yield on the 10-year Treasury note rose to 1.97 percent from 1.92 percent late Monday, as investors shifted money out of bonds and into riskier assets like stocks. It's the highest level for the yield since mid-March.

The yield on the note hit a low for the year of 1.63 percent on May 1. It surged higher two days later after the government reported a strong increase in hiring over the past three months.

CURRENCIES:

The yen weakened against the dollar. One dollar bought 102.24 Japanese yen as of late Tuesday, up from 101.93 yen late Monday. The dollar surged above 100 yen last week for the first time in four years. Japan's currency has been falling as the country's central bank floods the Japanese economy with cash in an effort to revive it from a two-decade slump. The euro edged down to $1.294 from $1.297.

COMMODITIES:

The strengthening dollar weighed on commodities. When the dollar rises, it makes dollar-denominated commodities like crude oil more expensive to investors using other currencies, like yen and euro. That tends to decrease demand for those goods, driving their prices lower.

The price of crude oil fell 96 cents, or 1 percent, to $94.21 a barrel. Oil has lost $2.41 a barrel over the past four days. On Tuesday a leading global energy agency raised its forecast for U.S. oil production and cut its forecast for worldwide demand.

Gold fell $9.80, or 0.7 percent, to $1,424.50.

Copper dropped the most among major commodities. The July contract fell 7.2 cents, or 2.1 percent, to $3.288 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 Investors nudged the stock market to all-time highs Wednesday despite a handful of disappointing economic reports.

Google's stock topped $900 for the first time after the company announced several upgrades to its Android software for smartphones, and Macy's rose after beatings Wall Street's profit estimates. Apple fell, holding back the Nasdaq composite index.

The market got off to a weak start, then turned higher in late morning trading. Investors shrugged off a slowdown in manufacturing last month. More signs of slack in the U.S. economy, the thinking goes, means the Federal Reserve will keep pumping money into financial markets.

Terry Sandven, chief equity strategist at U.S. Bank's wealth management group, said most investors have come to expect choppy economic growth, so they take mildly disappointing reports in stride. With companies reporting rising earnings and few appealing alternatives, he sees no reason to sell stocks.

"It's a good backdrop for the market to trend higher," Sandven said.

The Dow Jones industrial average rose 60.44 points to close at 15,275.69, an increase of 0.4 percent.

The Standard & Poor's 500 index gained 8.44 points to 1,658.78, up 0.4 percent. Both closed at all-time highs.

Google gained 3 percent as the online search company unveiled a music streaming service and upgraded features for Google Maps. Google rose $28.79 to $915.89, a gain of 3 percent. It's up 50 percent over the past year.

News of slowing manufacturing in the U.S. and a widespread slowdown in Europe weighed on financial markets in early trading. The Federal Reserve said that U.S. factories cut back sharply on production in April, as automakers produced fewer cars and most other industries scaled back. But the stock market recovered by midday.

"Yes, we're at all-time highs, but valuations are still attractive," Sandven said. The S&P 500 is trading at 15 times earnings for 2013, in line with the historical average of the closely watched price-to-earnings ratio.

Tepid economic growth also keeps interest rates low, which encourages investors to buy dividend-paying stocks instead. More than four out of every 10 companies in the S&P 500 pay a higher yield in dividends than U.S. government bonds pay in interest, according to Sandven.

In other trading, the Nasdaq composite rose 9.01 points to 3,471.62, a gain of 0.2 percent. 

 *The NYSE DOW closed  	HIGHER ▲	60.44	points or ▲	0.40%	Wednesday, 15 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,275.69	▲	60.44	▲	0.40%	
	Nasdaq___	3,471.62	▲	9.01	▲	0.26%	
	S&P_500__	1,658.78	▲	8.44	▲	0.51%	
	30_Yr_Bond	3.159	▼	0.00	▼	-0.13%	

NYSE Volume	3,946,467,250			 		 	
Nasdaq Volume	1,840,666,000			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,693.55	▲	7.49	▲	0.11%	
	DAX_____	8,362.42	▲	23.31	▲	0.28%	
	CAC_40__	3,982.23	▲	16.17	▲	0.41%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,173.30	▼	-29.20	▼	-0.56%	
	Shanghai_Comp	2,224.80	▲	7.79	▲	0.35%	
	Taiwan_Weight	8,318.59	▲	66.77	▲	0.81%	
	Nikkei_225____	15,096.03	▲	337.61	▲	2.29%	
	Hang_Seng____	23,044.24	▲	113.96	▲	0.50%	
	Strait_Times___	3,441.53	▲	8.77	▲	0.26%	
	NZX_50_Index__	4,646.33	▲	0.47	▲	0.01%	

http://finance.yahoo.com/news/stocks-keep-climbing-even-manufacturing-165442291.html

*Stocks keep climbing even as manufacturing softens

Indexes head higher in afternoon trading even as manufacturing weakens and Europe slumps*

By Matthew Craft, AP Business Writer

Investors nudged the stock market to all-time highs Wednesday despite a handful of disappointing economic reports.

Google's stock topped $900 for the first time after the company announced several upgrades to its Android software for smartphones, and Macy's rose after beatings Wall Street's profit estimates. Apple fell, holding back the Nasdaq composite index.

The market got off to a weak start, then turned higher in late morning trading. Investors shrugged off a slowdown in manufacturing last month. More signs of slack in the U.S. economy, the thinking goes, means the Federal Reserve will keep pumping money into financial markets.

Terry Sandven, chief equity strategist at U.S. Bank's wealth management group, said most investors have come to expect choppy economic growth, so they take mildly disappointing reports in stride. With companies reporting rising earnings and few appealing alternatives, he sees no reason to sell stocks.

"It's a good backdrop for the market to trend higher," Sandven said.

The Dow Jones industrial average rose 60.44 points to close at 15,275.69, an increase of 0.4 percent.

The Standard & Poor's 500 index gained 8.44 points to 1,658.78, up 0.4 percent. Both closed at all-time highs.

Google gained 3 percent as the online search company unveiled a music streaming service and upgraded features for Google Maps. Google rose $28.79 to $915.89, a gain of 3 percent. It's up 50 percent over the past year.

News of slowing manufacturing in the U.S. and a widespread slowdown in Europe weighed on financial markets in early trading. The Federal Reserve said that U.S. factories cut back sharply on production in April, as automakers produced fewer cars and most other industries scaled back. But the stock market recovered by midday.

"Yes, we're at all-time highs, but valuations are still attractive," Sandven said. The S&P 500 is trading at 15 times earnings for 2013, in line with the historical average of the closely watched price-to-earnings ratio.

Tepid economic growth also keeps interest rates low, which encourages investors to buy dividend-paying stocks instead. More than four out of every 10 companies in the S&P 500 pay a higher yield in dividends than U.S. government bonds pay in interest, according to Sandven.

In other trading, the Nasdaq composite rose 9.01 points to 3,471.62, a gain of 0.2 percent.

Apple's stock took a sudden turn lower after reports said that a hedge fund run by the billionaire David Tepper slashed its holdings in the tech company. Apple lost $15.01 to $425.85, a 3 percent drop.

Strong corporate profits have supported the market's rally this year. Quarterly earnings reached a record in the first quarter, according to S&P Capital IQ, rising 5 percent from the year before. Telecommunication companies have led the way. The S&P is up 16 percent so far in 2013.

Among companies reporting earnings Wednesday, Macy said its profit increased 20 percent. The department-store chain also raised its quarterly dividend by a nickel to 25 cents and announced plans to buy an additional $1.5 billion of its own stock. Macy's gained 2 percent, or $1.18, to $48.57

In the market for U.S. government bonds, the yield on the 10-year Treasury note slipped to 1.94 percent from 1.98 percent late Tuesday. Traders bought Treasurys, pushing yields down, partially in response to news that France became the latest European country to enter a recession. Of the 17 countries that use the euro, nine of them now have shrinking economies.

The Fed's bond-buying program has kept interest rates near historically low levels and encouraged investors to shift money into riskier assets, like stocks. The Fed buys $85 billion worth of bonds every month.

Among other companies in the news:

”” Deere & Co. fell 4 percent. The company, which makes farm and construction equipment, reported earnings that beat analysts' expectations but also warned that cool spring temperatures and tepid demand for its products will slow down its sales this year. Deere's stock lost $4.13 to $89.64.

”” Computer Sciences dropped 10 percent, the biggest loss in the S&P 500. The information technology company turned in much weaker revenue than analysts had expected. Sales of the company's services to businesses and local governments slumped. Computer Sciences lost $4.78 to $44.71.


----------



## bigdog

Source: http://finance.yahoo.com 

Signs of a slowing economy combined with comments from a Federal Reserve official helped pull the stock market down Thursday.

The news on the U.S. economy gave investors little to get excited about. Applications for unemployment benefits rose last week and manufacturing slowed in the mid-Atlantic region. Wal-Mart Stores sank after warning of weaker earnings ahead.

The Dow Jones industrial average fell 42.47 points to 15,233.22, a loss of 0.3 percent. The Standard & Poor's 500 index dropped 8.31 points to 1,650.47, or 0.5 percent. Both indexes closed at record highs the day before. It was only the third drop for the S&P this month.

"We've had such a tremendous run," said J. J. Kinahan, chief strategist at TD Ameritrade. "On a day with a bunch of disappointing data, you're looking for some good news to hold on to."

The manufacturing report from the Philadelphia branch of the Federal Reserve sent bond prices up and turned stocks lower in morning trading. The stock market recovered before noon, then spent most of the day with slight gains until shortly after 3 p.m.

That's when news crossed that John Williams, head of the Federal Reserve's San Francisco branch, told an audience that the Fed could end its bond-buying program this year. But Williams' comments made clear that the Fed would only curtail its stimulus effort when the economy looked strong enough.

Cisco jumped 13 percent, or $2.68, to $23.89. The network-equipment maker turned in quarterly results late Wednesday that beat analysts' expectations, with the help of better revenue from the U.S. and emerging markets. Cisco's performance is often considered a gauge of the technology industry's strength, and tech stocks fared better than the rest of the market Thursday. Technology was the only one of the 10 industry groups in the S&P 500 index to close higher.

The Nasdaq composite index lost 6.37 points to 3,465.24, a drop of 0.2 percent. 

The yield on the 10-year Treasury note dropped to 1.88 percent from 1.94 percent late Wednesday. It's a sign that traders are shifting money into lower-risk investments like U.S. government debt.

 *The NYSE DOW closed  	LOWER ▼	-42.47	points or ▼	-0.28%	Thursday, 16 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,233.22	▼	-42.47	▼	-0.28%	
	Nasdaq___	3,465.24	▼	-6.37	▼	-0.18%	
	S&P_500__	1,650.47	▼	-8.31	▼	-0.50%	
	30_Yr_Bond	3.086	▼	-0.07	▼	-2.31%	

NYSE Volume	3,773,931,000			 		 	
Nasdaq Volume	1,954,011,500			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,687.80	▼	-5.75	▼	-0.09%	
	DAX_____	8,369.87	▲	7.45	▲	0.09%	
	CAC_40__	3,979.07	▼	-3.16	▼	-0.08%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,144.20	▼	-29.10	▼	-0.56%	
	Shanghai_Comp	2,251.81	▲	27.01	▲	1.21%	
	Taiwan_Weight	8,390.05	▲	71.46	▲	0.86%	
	Nikkei_225____	15,037.24	▼	-58.79	▼	-0.39%	
	Hang_Seng____	23,082.68	▲	38.44	▲	0.17%	
	Strait_Times___	3,452.28	▲	10.75	▲	0.31%	
	NZX_50_Index__	4,636.03	▼	-10.30	▼	-0.22%	

http://finance.yahoo.com/news/fade-wall-street-wal-mart-201734288.html

*A late fade on Wall Street; Wal-Mart, Disney slump

Wall Street closes lower after a muddled day of trading; Wal-Mart slides on weak sales*

By Matthew Craft, AP Business Writer

Signs of a slowing economy combined with comments from a Federal Reserve official helped pull the stock market down Thursday.

The news on the U.S. economy gave investors little to get excited about. Applications for unemployment benefits rose last week and manufacturing slowed in the mid-Atlantic region. Wal-Mart Stores sank after warning of weaker earnings ahead.

The Dow Jones industrial average fell 42.47 points to 15,233.22, a loss of 0.3 percent. The Standard & Poor's 500 index dropped 8.31 points to 1,650.47, or 0.5 percent. Both indexes closed at record highs the day before. It was only the third drop for the S&P this month.

"We've had such a tremendous run," said J. J. Kinahan, chief strategist at TD Ameritrade. "On a day with a bunch of disappointing data, you're looking for some good news to hold on to."

The manufacturing report from the Philadelphia branch of the Federal Reserve sent bond prices up and turned stocks lower in morning trading. The stock market recovered before noon, then spent most of the day with slight gains until shortly after 3 p.m.

That's when news crossed that John Williams, head of the Federal Reserve's San Francisco branch, told an audience that the Fed could end its bond-buying program this year. But Williams' comments made clear that the Fed would only curtail its stimulus effort when the economy looked strong enough.

Cisco jumped 13 percent, or $2.68, to $23.89. The network-equipment maker turned in quarterly results late Wednesday that beat analysts' expectations, with the help of better revenue from the U.S. and emerging markets. Cisco's performance is often considered a gauge of the technology industry's strength, and tech stocks fared better than the rest of the market Thursday. Technology was the only one of the 10 industry groups in the S&P 500 index to close higher.

The Nasdaq composite index lost 6.37 points to 3,465.24, a drop of 0.2 percent.

Wal-Mart fell 2 percent. The world's largest retailer turned in weaker sales and a dim forecast for profits. The company blamed bad weather and delayed tax refunds for earnings and sales that fell short of what analysts had expected. Wal-Mart's stock lost $1.36 to $78.50.

Companies have reported record quarterly profits this earnings season. Seven of every 10 in the S&P 500 have trumped analysts' earnings estimates, according to S&P Capital IQ. Earnings have climbed 5 percent over the year before.

But revenue has looked weak: six out of every 10 companies in the S&P 500 have missed forecasts, and revenue has edged up just 1 percent. Without higher sales, companies are getting more of their profits from laying off staff and other cost-cutting moves.

Scott King, an investment adviser at Unified Trust Co. in Lexington, Ky., said that if the market is going to keep climbing this year, sales will have to start rising. Analysts are looking for that to happen as economic growth gains strength later this year.

"It's hard to see how companies can squeeze more earnings growth out of cost savings," King said. "At some point, the economic numbers and revenue have to pick up."

The Philadelphia branch of the Federal Reserve reported that manufacturers in the region said business conditions slumped this month. Orders for manufactured goods and shipments have been weak.

In Washington, the Labor Department reported that the number of Americans seeking unemployment benefits rose last week to 360,000. That suggests companies are laying more people off, just one week after applications for benefits hit a five-year low.

The yield on the 10-year Treasury note dropped to 1.88 percent from 1.94 percent late Wednesday. It's a sign that traders are shifting money into lower-risk investments like U.S. government debt.

Gold prices fell slightly and the price of crude oil edged higher. Gold fell $9.30 to $1,386.90 an ounce. Crude oil rose 86 cents to $95.16 a barrel in New York.


----------



## bigdog

Source: http://finance.yahoo.com 

Encouraging news about the U.S. economy extended the stock market's rally Friday.

Small-company stocks rose the most, a sign that investors are taking on more risk. Two companies soared in their stock-market debuts in the latest indication that the market for initial public offerings is reviving.

A gauge of future economic activity rose more than analysts had expected, as did a measure of consumer confidence, adding to evidence that the economy is steadily recovering.

Stocks closed higher for a fourth straight week. Indexes are at record levels after surging this year on optimism about the economy and record corporate earnings. The market is also being supported by ongoing stimulus from the Federal Reserve, which is keeping long-term borrowing costs at historically low levels.

"This slow but relatively steady growth, that keeps inflation in check and keeps interest rates low, is actually a pretty healthy environment for the stock market," said Liz Ann Sonders, chief investment strategist at Charles Schwab & Co. "Right now we are very optimistic."

General Motors rose $1.03, or 3.2 percent, to $33.42. The automaker's stock is trading above the $33 price of its November, 2010 initial public offering for the first time in two years.

Northrop Grumman gained $3.17, or 3.2 percent, to $82.19 after the defense contractor said its board approved the repurchase of another $4 billion in stock, and that it plans to buy back a quarter of its outstanding shares by the end of 2015.

The Dow Jones industrial average rose 121.18 points, or 0.8 percent, to 15,354.40. The index gained 1.6 percent for the week and is up 17.2 percent for the year.

The index started higher, then drifted through the rest of the morning. The index added to its gains in the afternoon, climbing about 70 points in the last two hours of the day.

The Standard & Poor' 500 index rose 15.65 points, or 1 percent, to 1,666.12. The gauge is up 2 percent this week and has gained 16.8 percent this year.

After some lackluster reports on the economy Thursday, including slowing manufacturing and an increase in applications for unemployment benefits, Friday's reports were a tonic for investors.

The Conference Board said its index of leading economic indicators rose 0.6 percent last month after a revised decline of 0.2 percent in March. The index is intended to predict how the economy will be doing in three to six months.

The University of Michigan's preliminary survey of consumer confidence climbed to 83.7. Economists had predicted that the gauge would climb to 76.8.

The strength of the rally in stocks has taken many by surprise, leaving investors waiting for a drop in prices to get into the market, said Jim Anderson, an investment specialist at JPMorgan. The S&P 500 index hasn't fallen for two consecutive days in a month. 

 *The NYSE DOW closed  	HIGHER ▲	121.18	points or ▲	0.80%	Friday, 17 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,354.40	▲	121.18	▲	0.80%	
	Nasdaq___	3,498.97	▲	33.72	▲	0.97%	
	S&P_500__	1,667.47	▲	17.00	▲	1.03%	
	30_Yr_Bond	3.160	▲	0.08	▲	2.56%	

NYSE Volume	3,759,206,750			 		 	
Nasdaq Volume	1,827,356,500			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,723.06	▲	35.26	▲	0.53%	
	DAX_____	8,398.00	▲	28.13	▲	0.34%	
	CAC_40__	4,001.27	▲	22.20	▲	0.56%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,159.80	▲	15.60	▲	0.30%	
	Shanghai_Comp	2,282.87	▲	31.06	▲	1.38%	
	Taiwan_Weight	8,368.19	▼	-21.86	▼	-0.26%	
	Nikkei_225____	15,138.12	▲	100.88	▲	0.67%	
	Hang_Seng____	23,082.68	▲	38.44	▲	0.17%	
	Strait_Times___	3,449.30	▼	-2.98	▼	-0.09%	
	NZX_50_Index__	4,597.84	▼	-38.19	▼	-0.82%	

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Stocks rise on hopeful signs for the US economy

US stocks rise on hopeful signs for the US economy, including a jump in consumer confidence*

By Steve Rothwell, AP Market Writer 

Encouraging news about the U.S. economy extended the stock market's rally Friday.

Small-company stocks rose the most, a sign that investors are taking on more risk. Two companies soared in their stock-market debuts in the latest indication that the market for initial public offerings is reviving.

A gauge of future economic activity rose more than analysts had expected, as did a measure of consumer confidence, adding to evidence that the economy is steadily recovering.

Stocks closed higher for a fourth straight week. Indexes are at record levels after surging this year on optimism about the economy and record corporate earnings. The market is also being supported by ongoing stimulus from the Federal Reserve, which is keeping long-term borrowing costs at historically low levels.

"This slow but relatively steady growth, that keeps inflation in check and keeps interest rates low, is actually a pretty healthy environment for the stock market," said Liz Ann Sonders, chief investment strategist at Charles Schwab & Co. "Right now we are very optimistic."

General Motors rose $1.03, or 3.2 percent, to $33.42. The automaker's stock is trading above the $33 price of its November, 2010 initial public offering for the first time in two years.

Northrop Grumman gained $3.17, or 3.2 percent, to $82.19 after the defense contractor said its board approved the repurchase of another $4 billion in stock, and that it plans to buy back a quarter of its outstanding shares by the end of 2015.

The Dow Jones industrial average rose 121.18 points, or 0.8 percent, to 15,354.40. The index gained 1.6 percent for the week and is up 17.2 percent for the year.

The index started higher, then drifted through the rest of the morning. The index added to its gains in the afternoon, climbing about 70 points in the last two hours of the day.

The Standard & Poor' 500 index rose 15.65 points, or 1 percent, to 1,666.12. The gauge is up 2 percent this week and has gained 16.8 percent this year.

After some lackluster reports on the economy Thursday, including slowing manufacturing and an increase in applications for unemployment benefits, Friday's reports were a tonic for investors.

The Conference Board said its index of leading economic indicators rose 0.6 percent last month after a revised decline of 0.2 percent in March. The index is intended to predict how the economy will be doing in three to six months.

The University of Michigan's preliminary survey of consumer confidence climbed to 83.7. Economists had predicted that the gauge would climb to 76.8.

The strength of the rally in stocks has taken many by surprise, leaving investors waiting for a drop in prices to get into the market, said Jim Anderson, an investment specialist at JPMorgan. The S&P 500 index hasn't fallen for two consecutive days in a month.

"Everyone is waiting for a pullback," Anderson said. "Every client asks me, 'When are we getting a pullback?' With so many people waiting for it, and pouncing on it when it arrives, it's over so quickly."

As well as giving stocks a lift, the positive economic reports also pushed government bond yields higher. The yield on the 10-year Treasury rose to 1.96 percent from 1.88 percent Thursday as investors favored riskier assets.

The yield, which moves inversely to its prices, has jumped since May 3 after the government reported that hiring picked up sharply in April. The note started trading that day at 1.63 percent, its low for the year.

The move to riskier assets also gave small stocks a lift. The Russell 2000, an index of smaller companies, rose 10.94 points, or 1.1 percent, to 996.28. The index has surged this month and is performing better than both the Dow and the S&P 500 for the year. It's up 17.3 percent so far in 2013.

Small stocks are doing well partly because they are more focused on the U.S., which is recovering, and don't rely as much on sales from recession-plagued Europe, as larger companies do.

Gold fell for a seventh straight day, dropping $22.20, or 1.6 percent, to $1,364 an ounce. The precious metal is down almost 20 percent this year and has fallen out of favor as an alternative investment as the stock market has surged this year.

The demand for gold as an alternative asset is also being undermined by a recent surge in the U.S. dollar. The U.S. currency advanced against both the euro and the yen Friday. The ICE dollar index, which measures the strength of the U.S. currency against a group of six currencies, is at its highest in two years.

The price of oil rose 86 cents, or 0.9 percent, to $96.02 a barrel.

The Nasdaq composite climbed 33.72 points, or 1 percent, to 3,498. The technology-heavy stock index got a small boost from Facebook, which climbed 12 cents, or 0.5 percent, to $26.25 on the one-year anniversary of its initial public offering.

Facebook slumped in the first four months after its market debut on concern that it wasn't doing enough to develop mobile advertising. Despite recovering since then, it's still trading below its IPO price of $38.

Two software companies had more success in their stock market debuts on Friday. Marketo surged $10.10, or 77.7 percent, to $23.10 on its stock market debut. Tableau software rose $19.75, or 63.7 percent, to $50.75 on its first day of trading.

The standout performance made the two companies the two best performing IPOs of the year. So far, 22 companies have prices stock sales in May, making this the biggest month for stock market debuts since November 2007, according to Renaissance Capital.

Among other stocks making big moves;

”” J.C. Penney fell 78 cents, or 4.2 percent, to $18.01 after the retailer reported a loss that was worse than analysts' already dismal estimates. The retailer is reeling from the fallout from a failed turnaround plan orchestrated by its former CEO Ron Johnson, who was ousted last month after less than a year and a half on the job.

”” Autodesk fell $2.67, or 6.7 percent, to $37.11, after the design software company posted disappointing first-quarter results and lowered its forecasts for the year.

1776


----------



## bigdog

Source: http://finance.yahoo.com 

Small-company stocks were a bright spot in a subdued start to the week for Wall Street.

The Russell 2000, an index of small-company stocks, climbed above 1,000 points for the first time and ended higher Monday, even as the Dow Jones industrial average, the Standard & Poor's 500 index and the Nasdaq composite index all edged lower.

The gains for the smaller companies are encouraging for the broader stock market because they show that investors are becoming more comfortable about the economy and investing in riskier assets, said Rob Lutts, Chief Investment Officer at Cabot Money Management.

Small-company stocks are considered riskier than the stocks of well-established, large companies like IBM or Coca-Cola. That's because small companies are often relatively young and tend to have less diversified businesses than larger ones, making them more susceptible to swings in demand from their customers. There are also fewer buyers and sellers for them, which can make the stocks harder to off-load if prices start to fall.

"Having smaller stocks hit new highs means that the rally is broad," Lutts said. "It gives us a little more confidence that it's a good, sustainable rally that can hold together for a while."

The better-known market barometers, the Dow and the S&P 500 indexes, fluctuated between small gains and losses for most of Monday. They ended slightly below the record levels they reached Friday.

The Russell 2000 rose 1.70 points, or 0.2 percent, higher at 997.98. The index climbed as high as 1001.50 at midday.

The index currently consists of 2,008 of the smallest stocks of the U.S. equity market and the average company having a stock market value of about $1.5 billion.

Sunpower Corp., a manufacturer of solar panels, has led gains for the index this year, climbing $17.08, or 304 percent, to $22.70. Keryx Biopharmaceuticals is the second-biggest climber in the index, rising $5.32, or 203 percent, $7.94.

The Dow closed down 19.12 points, or 0.1 percent, at 15,335.28, paring its gain for the year to 17 percent. The S&P 500 index fell 1.18 points, or 0.1 percent, to 1,666.29. Its advance for the year now stands at 16.8 percent. 

Investors are focusing on the Federal Reserve this week and looking for clues about what it plans to do next with its economic stimulus program. On Wednesday Fed Chairman Ben Bernanke will appear before Congress and the central bank will release minutes of its most recent policy meeting.

 *The NYSE DOW closed  	LOWER ▼	-19.12	points or ▼	-0.12%	Monday, 20 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,335.28	▼	-19.12	▼	-0.12%	
	Nasdaq___	3,496.43	▼	-2.53	▼	-0.07%	
	S&P_500__	1,666.29	▼	-1.18	▼	-0.07%	
	30_Yr_Bond	3.174	▲	0.01	▲	0.28%	

NYSE Volume	3,571,335,250			 		 	
Nasdaq Volume	1,716,683,380			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,755.63	▲	67.83	▲	1.01%	
	DAX_____	8,455.83	▲	57.83	▲	0.69%	
	CAC_40__	4,022.85	▲	21.58	▲	0.54%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,185.40	▲	25.60	▲	0.50%	
	Shanghai_Comp	2,299.99	▲	17.12	▲	0.75%	
	Taiwan_Weight	8,377.05	▲	8.86	▲	0.11%	
	Nikkei_225____	15,360.81	▲	222.69	▲	1.47%	
	Hang_Seng____	23,493.03	▲	410.35	▲	1.78%	
	Strait_Times___	3,454.08	▲	4.78	▲	0.14%	
	NZX_50_Index__	4,598.65	▲	0.81	▲	0.02%	

http://finance.yahoo.com/news/small-company-stock-bright-spot-215314674.html

*Small company stock are a bright spot**

Small company stocks are a bright spot as Russell 2000 index climbs above 1,000 for first time*

By Steve Rothwell, AP Markets Write

Small-company stocks were a bright spot in a subdued start to the week for Wall Street.

The Russell 2000, an index of small-company stocks, climbed above 1,000 points for the first time and ended higher Monday, even as the Dow Jones industrial average, the Standard & Poor's 500 index and the Nasdaq composite index all edged lower.

The gains for the smaller companies are encouraging for the broader stock market because they show that investors are becoming more comfortable about the economy and investing in riskier assets, said Rob Lutts, Chief Investment Officer at Cabot Money Management.

Small-company stocks are considered riskier than the stocks of well-established, large companies like IBM or Coca-Cola. That's because small companies are often relatively young and tend to have less diversified businesses than larger ones, making them more susceptible to swings in demand from their customers. There are also fewer buyers and sellers for them, which can make the stocks harder to off-load if prices start to fall.

"Having smaller stocks hit new highs means that the rally is broad," Lutts said. "It gives us a little more confidence that it's a good, sustainable rally that can hold together for a while."

The better-known market barometers, the Dow and the S&P 500 indexes, fluctuated between small gains and losses for most of Monday. They ended slightly below the record levels they reached Friday.

The Russell 2000 rose 1.70 points, or 0.2 percent, higher at 997.98. The index climbed as high as 1001.50 at midday.

The index currently consists of 2,008 of the smallest stocks of the U.S. equity market and the average company having a stock market value of about $1.5 billion.

Sunpower Corp., a manufacturer of solar panels, has led gains for the index this year, climbing $17.08, or 304 percent, to $22.70. Keryx Biopharmaceuticals is the second-biggest climber in the index, rising $5.32, or 203 percent, $7.94.

The Dow closed down 19.12 points, or 0.1 percent, at 15,335.28, paring its gain for the year to 17 percent. The S&P 500 index fell 1.18 points, or 0.1 percent, to 1,666.29. Its advance for the year now stands at 16.8 percent.

Investors are focusing on the Federal Reserve this week and looking for clues about what it plans to do next with its economic stimulus program. On Wednesday Fed Chairman Ben Bernanke will appear before Congress and the central bank will release minutes of its most recent policy meeting.

The Fed is buying $85 billion of bonds every month to keep long-term interest rates low. That has encouraged investors to put money into stocks instead of bonds. The yield on the 10-year Treasury note has been below 2 percent almost continually since April 12. That's less than many large companies pay in dividends.

Policy makers are unlikely to cut back on stimulus just yet since U.S. economic growth is likely to slow in the second quarter, said Scott Wren, a senior equity strategist at Wells Fargo Advisors. As a consequence, Wren said, stocks are likely to continue to rise.

"At some point, we will see some sort of a pullback, but it doesn't seem like it's going to be right now," said Wren. "In the near term we're probably going to trade a little bit higher."

The stock market rally is also is being underpinned by investors moving back into stocks, reversing years of outflows of funds from equity markets, said Jerry Braakman, chief investment officer at First American Trust.

Investors have invested about net $17 billion into domestic stock mutual funds since the start of the year, according to data from the Investment Company Institute. Investors have pulled money out of mutual funds every year since the beginning of the financial crisis in 2007.

"This market rally still has legs, partly because we've seen huge retail inflows back into equities," Braakman said. "It's hard to beat the money flow."

In commodities trading, the price of crude oil rose 69 cents, or 0.7 percent, to $96.71 a barrel.

The price of gold rose for the first day in eight as the dollar fell. The precious metal climbed $19.40, or 1.4 percent, to $1,384. Gold has slumped this month as its attraction as an alternative investment fades as the dollar appreciates.

The U.S. currency is strengthening because investors believe the U.S. economy is in better shape than the Japanese or European economies.

The dollar's rally paused on Monday, though, and the U.S. currency fell against the euro and the yen. The dollar index also dropped, after climbing to its highest level in close to three years Friday.

In U.S. government bond trading, the yield on the 10-year Treasury note rose to 1.97 percent from 1.93 percent.

The Nasdaq composite index fell 2.53 points, or 0.1 percent, to 3,496.43 points.

Among stocks in focus on Monday:

”” Actavis rose $1.65, or 1.3 percent, to $127.15 after the pharmaceutical company said it's buying Warner Chilcott. The all-stock deal, valued at $8.5 billion, would create the third-biggest specialty pharmaceutical company in the U.S.

”” Chesapeake Energy rose 53 cents, or 2.6 percent, to $20.80 after the natural gas producer named Anadarko Petroleum executive Robert Douglas Lawler as its new CEO. He takes over as Chesapeake continues selling assets to pare down an enormous debt burden.

””Websense, an internet security firm, surged $5.53, or 29 percent, to $24.76 after the company agreed to be taken private for $906 million by private equity firm Vista Equity Partners.


----------



## bigdog

Source: http://finance.yahoo.com 

Reassuring comments from a Federal Reserve official and better earnings from two big retailers helped push the stock market higher Tuesday.

Stock indexes wobbled between gains and losses in early trading, then took a turn higher just before noon. That's when news crossed that James Bullard, head of the Fed's St. Louis branch, told an audience in Germany that the Fed ought to stick with its bond-buying effort to bolster the economic recovery.

"Those words were a salve for investors' nerves," said Lawrence Creatura, a fund manager at Federated Investors. Other Fed officials have recently talked about scaling back the program. "There's a lot of uncertainty surrounding this issue. And uncertainty and investors aren't always a happy match."

The Dow Jones industrial average rose 52.30 points to 15,387.58, a gain of 0.3 percent.

The Standard & Poor's 500 index edged up 2.87 points to 1,669.16, a slight increase of 0.2 percent. Both the Dow and the S&P are at record highs.

Many investors were already looking ahead to Wednesday, when the Federal Reserve will release minutes from its most recent policy meeting and Chairman Ben Bernanke will go before Congress to discuss his outlook for the U.S. economy.

"I think a lot of people are sitting on their hands waiting to see what the Fed says tomorrow," said Michael Binger, senior portfolio manager at Gradient Investments in Minneapolis, Minn.

Binger said some investors believe the Fed's support is the main reason the stock market has soared to all-time highs. If the Fed pulls back, they reason, the market's epic rally would come to an end.

In other trading, the Nasdaq composite rose 5.69 points to 3,502.12, a 0.2 percent gain. 

 *The NYSE DOW closed  	HIGHER ▲	52.30	points or ▲	0.34%	Tuesday, 21 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,387.58	▲	52.30	▲	0.34%	
	Nasdaq___	3,502.12	▲	5.69	▲	0.16%	
	S&P_500__	1,669.16	▲	2.87	▲	0.17%	
	30_Yr_Bond	3.149	▼	-0.03	▼	-0.79%	

NYSE Volume	3,823,181,500			 		 	
Nasdaq Volume	1,747,761,000			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,803.87	▲	48.24	▲	0.71%	
	DAX_____	8,472.20	▲	16.37	▲	0.19%	
	CAC_40__	4,036.18	▲	13.33	▲	0.33%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,156.20	▼	-29.20	▼	-0.56%	
	Shanghai_Comp	2,305.11	▲	5.13	▲	0.22%	
	Taiwan_Weight	8,383.05	▲	6.00	▲	0.07%	
	Nikkei_225____	15,381.02	▲	20.21	▲	0.13%	
	Hang_Seng____	23,366.37	▼	-126.66	▼	-0.54%	
	Strait_Times___	3,443.90	▼	-10.33	▼	-0.30%	
	NZX_50_Index__	4,590.84	▼	-7.82	▼	-0.17%	

http://finance.yahoo.com/news/stocks-gain-reassurance-top-fed-205339678.html

*Stocks gain on reassurance from a top Fed official

Stocks turn higher after reassuring words from Fed official; Home Depot gains after earnings*

By Matthew Craft, AP Business Writer

Reassuring comments from a Federal Reserve official and better earnings from two big retailers helped push the stock market higher Tuesday.

Stock indexes wobbled between gains and losses in early trading, then took a turn higher just before noon. That's when news crossed that James Bullard, head of the Fed's St. Louis branch, told an audience in Germany that the Fed ought to stick with its bond-buying effort to bolster the economic recovery.

"Those words were a salve for investors' nerves," said Lawrence Creatura, a fund manager at Federated Investors. Other Fed officials have recently talked about scaling back the program. "There's a lot of uncertainty surrounding this issue. And uncertainty and investors aren't always a happy match."

The Dow Jones industrial average rose 52.30 points to 15,387.58, a gain of 0.3 percent.

The Standard & Poor's 500 index edged up 2.87 points to 1,669.16, a slight increase of 0.2 percent. Both the Dow and the S&P are at record highs.

Many investors were already looking ahead to Wednesday, when the Federal Reserve will release minutes from its most recent policy meeting and Chairman Ben Bernanke will go before Congress to discuss his outlook for the U.S. economy.

"I think a lot of people are sitting on their hands waiting to see what the Fed says tomorrow," said Michael Binger, senior portfolio manager at Gradient Investments in Minneapolis, Minn.

Binger said some investors believe the Fed's support is the main reason the stock market has soared to all-time highs. If the Fed pulls back, they reason, the market's epic rally would come to an end.

In other trading, the Nasdaq composite rose 5.69 points to 3,502.12, a 0.2 percent gain.

J.P. Morgan Chase & Co. gained 1.4 percent. Shareholders of the country's biggest bank voted to allow Jamie Dimon to keep his two titles, CEO and chairman of the board. Groups had pushed to split the two jobs, a drive that gained momentum from a multi-billion trading loss last year. The bank's stock rose 73 cents to $53.02.

Home Depot surged 2.5 percent. The retailer reported an 18 percent increase in quarterly income as the housing market continued to recover. Home Depot rose $1.95 to $78.71.

Among other companies posting quarterly results, AutoZone jumped 5 percent. Better sales and shrinking costs helped the auto-parts company beat analysts' earnings forecasts. AutoZone leapt $18.79 to $427.84.

It has been another solid earnings season for big companies, with corporate profits hitting all-time highs even as revenue barely rises.

Seven of every 10 companies in the S&P 500 have trumped Wall Street's earnings forecasts, according to S&P Capital IQ. First-quarter earnings are on track to climb 5 percent over the year before. Revenue is expected to rise just 1 percent.

In the market for U.S. government bonds, the yield on the 10-year Treasury note slipped to 1.93 percent from 1.96 percent late Monday.

In commodities trading, crude oil sank 55 cents to settle at $96.16 a barrel.

The price of gold fell $6.50 to $1,377.60 an ounce, extending a slump that has knocked gold down 18 percent this year. Tame inflation, a stronger dollar and a surging stock market have undermined gold's appeal.

Among other companies in the news:

”” Carnival Corp slumped 4 percent. The cruise-ship operator cut its earnings forecast for the year late Monday as it wrestles with the fallout from high-profile incidents, which left passengers stranded at sea. Carnival's stock lost $1.51 to $33.81.

”” Best Buy dropped 4 percent after reporting a quarterly loss and sales that fell short of the forecasts of financial analysts who follow the company. Its stock lost $1.17 to $25.64.

”” TiVo gained 2 percent, or 26 cents, to $12.92. The digital video recording company narrowed its quarterly loss with the help of higher sales from more subscribers.


----------



## bigdog

Source: http://finance.yahoo.com 

The Federal Reserve took financial markets for a ride Wednesday, pushing stock prices up in the morning then sending them down in afternoon.

Prices surged on congressional testimony by Fed chairman Ben Bernanke early in the day that suggested the central bank would not end its massive economic stimulus program any time soon. But then minutes of a Fed meeting were released suggesting the stimulus could be scaled back as early as next month if the economy picks up, and stocks began dropping fast.

The Fed minutes showed that some policymakers favored tapering a bond-buying program. That prompted traders to dump U.S. government bonds, sending their interest rates, or yields, higher.

The yield on the benchmark 10-year Treasury note rose above 2 percent for the first time since March 14, to 2.03 percent from 1.93 percent the day before.

The Fed is buying $85 billion worth of bonds every month as part of its stimulus program. That has kept interest rates low and encouraged investors to put money into stocks and other riskier assets instead of bonds. If the Fed slows down its bond purchases, investors fear, it could lead to an outpouring of money from the stock market and back into bonds.

The Dow Jones industrial average ended the day down 80.41 points, or 0.5 percent, to 15,307.17. Earlier, the index had risen as much as 154 points after Bernanke started speaking to lawmakers.

"If you had any doubts about the influence of the Fed, you only have to look at the roller coaster that followed Bernanke's testimony this morning and the release to Fed minutes this afternoon," said David Kelly, chief global strategist at J.P. Morgan Funds.

The minutes of the April 30-May 1 meeting showed that "a number" of members expressed a willingness to scale back the Fed's bond purchases, perhaps as soon as June, if the economy accelerates. The Fed next meets June 18-19.

The Standard and Poor's 500 fell 13.81 points to 1,655.35, a decline of 0.8 percent.

Earlier in the day, Bernanke had told lawmakers it was too soon for the central bank to pull back on its stimulus programs. Investors were also encouraged by news that sales of previously occupied U.S. homes rose last month to the highest level in three and a half years.

"It's up, up and away," said Stephen Carl, head of stock trading at the Williams Capital Group, as stocks were soaring shortly after Bernanke stopped speaking.

In addition to buying bonds, the Fed has been keeping short-term interest rates near zero to encourage people and businesses to borrow and spend more.

The Russell 2000 index of small-company stocks fell 16.52 points to 982.26, a loss of 1.7 percent.

The Nasdaq composite was down 38.82 points at 3,463.30, or 1 percent. 

 *The NYSE DOW closed  	LOWER ▼	-80.41	points or ▼	-0.52%	Wednesday, 22 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,307.17	▼	-80.41	▼	-0.52%	
	Nasdaq___	3,463.30	▼	-38.82	▼	-1.11%	
	S&P_500__	1,655.35	▼	-13.81	▼	-0.83%	
	30_Yr_Bond	3.209	▲	0.06	▲	1.91%	

NYSE Volume	4,900,335,000			 		 	
Nasdaq Volume	2,114,605,250			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,840.27	▲	36.40	▲	0.53%	
	DAX_____	8,530.89	▲	58.69	▲	0.69%	
	CAC_40__	4,051.11	▲	14.93	▲	0.37%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,142.10	▼	-14.10	▼	-0.27%	
	Shanghai_Comp	2,302.40	▼	-2.71	▼	-0.12%	
	Taiwan_Weight	8,398.84	▲	15.79	▲	0.19%	
	Nikkei_225____	15,627.26	▲	246.24	▲	1.60%	
	Hang_Seng____	23,261.08	▼	-105.29	▼	-0.45%	
	Strait_Times___	3,454.37	▲	10.47	▲	0.30%	
	NZX_50_Index__	4,610.18	▲	19.34	▲	0.42%	

http://finance.yahoo.com/news/stocks-fall-news-fed-weighed-190707454.html

*Stocks fall on news Fed weighed cutting stimulus

Stocks fall, interest rates rise after Fed minutes show policymakers weighed stimulus pullback*

By Bernard Condon, AP Business Writer

The Federal Reserve took financial markets for a ride Wednesday, pushing stock prices up in the morning then sending them down in afternoon.

Prices surged on congressional testimony by Fed chairman Ben Bernanke early in the day that suggested the central bank would not end its massive economic stimulus program any time soon. But then minutes of a Fed meeting were released suggesting the stimulus could be scaled back as early as next month if the economy picks up, and stocks began dropping fast.

The Fed minutes showed that some policymakers favored tapering a bond-buying program. That prompted traders to dump U.S. government bonds, sending their interest rates, or yields, higher.

The yield on the benchmark 10-year Treasury note rose above 2 percent for the first time since March 14, to 2.03 percent from 1.93 percent the day before.

The Fed is buying $85 billion worth of bonds every month as part of its stimulus program. That has kept interest rates low and encouraged investors to put money into stocks and other riskier assets instead of bonds. If the Fed slows down its bond purchases, investors fear, it could lead to an outpouring of money from the stock market and back into bonds.

The Dow Jones industrial average ended the day down 80.41 points, or 0.5 percent, to 15,307.17. Earlier, the index had risen as much as 154 points after Bernanke started speaking to lawmakers.

"If you had any doubts about the influence of the Fed, you only have to look at the roller coaster that followed Bernanke's testimony this morning and the release to Fed minutes this afternoon," said David Kelly, chief global strategist at J.P. Morgan Funds.

The minutes of the April 30-May 1 meeting showed that "a number" of members expressed a willingness to scale back the Fed's bond purchases, perhaps as soon as June, if the economy accelerates. The Fed next meets June 18-19.

The Standard and Poor's 500 fell 13.81 points to 1,655.35, a decline of 0.8 percent.

Earlier in the day, Bernanke had told lawmakers it was too soon for the central bank to pull back on its stimulus programs. Investors were also encouraged by news that sales of previously occupied U.S. homes rose last month to the highest level in three and a half years.

"It's up, up and away," said Stephen Carl, head of stock trading at the Williams Capital Group, as stocks were soaring shortly after Bernanke stopped speaking.

In addition to buying bonds, the Fed has been keeping short-term interest rates near zero to encourage people and businesses to borrow and spend more.

The Russell 2000 index of small-company stocks fell 16.52 points to 982.26, a loss of 1.7 percent.

The Nasdaq composite was down 38.82 points at 3,463.30, or 1 percent.

In addition to stimulus from the Fed, other factors have been pushing the stock market higher, including a rebounding housing market, a pickup in hiring and strong earnings at big U.S. companies. On Wednesday, S&P Capital IQ reported that earnings in S&P 500 companies had reached a quarterly record.

Investors don't like when the Fed pulls back from stimulus policies and raised interest rates because it typically has slowed the economy, and has even led to recessions. But JPMorgan's Kelly notes that when interest rates are very low like now, history suggests interest rates hikes won't hurt the stock market that much because it means the economy is getting stronger.

"I don't think that (higher) interest rates will prove bad for the stock market," he said. "But the stock market has been hypnotized into believing that the only thing keep it afloat is the Fed."

Among stocks making big moves:

””Bristol-Myers Squibb jumped 5 percent, or $2.34, to $46.40 after a Citigroup analyst raised his rating on the drugmaker. The analyst said the company could be a big winner with a group of cancer treatments under development.

””Saks rose $1.83 to $15.50, or 13 percent, after The New York Post reported the luxury retailer had hired Goldman Sachs to explore options for the company, including a possible sale. A spokesman for Saks declined to comment.

””Target fell $2.86, or 4 percent, to $68.40 after announcing a 26 percent drop in first-quarter profits. The company also said full-year earnings may come in lower than previously expected.

On Tuesday, stocks rose after James Bullard, president of the St. Louis branch of the Federal Reserve, told an audience in Germany that the central bank should continue buying bonds.

The price of gold fell $10.20 to $1,367.40 an ounce, a drop of 0.7 percent. Crude oil fell $1.90 to $94.28 a barrel on the New York Mercantile Exchange.


----------



## bigdog

Source: http://finance.yahoo.com 

Investors recovered their poise after a shaky start to trading on Wall Street that sent stocks sharply lower.

U.S. markets plummeted immediately after the opening bell Thursday following a global slump prompted partly by an unexpected slowdown in Chinese manufacturing. Concern that the Federal Reserve might ease back on its economic stimulus program sooner than expected had also riled investors.

The dip gave investors who missed this year's stock market surge an opportunity to get into the market, and by midday the market had recouped most of its early loss. Stocks even climbed into positive territory by midday, then ended the day marginally lower.

"Most institutions, most hedge funds and most individuals have watched the market go up without them, so the dips are being bought," said Jim Russell, regional investment director at U.S. Bank. "There's a very strong case for U.S. stocks."

For the most part, the U.S. stock market has been going up steadily since the beginning of the year, with only infrequent declines. Investors' optimism has been stoked by a pickup in hiring at U.S. employers, a recovery in the housing market and record profits at U.S. corporations.

All that has helped push the Dow up 16.7 percent this year. The Standard & Poor's 500 index is 15.7 percent than at the start of 2013.

On Thursday, however, trading was volatile.

The Dow Jones industrial average ended the day just 12.67 points lower, or 0.1 percent, at 15,294.50. It fell as much as 127 points during the first hour of trading.

A sell-off in global markets came after minutes from the latest Fed meeting, released Wednesday afternoon, indicated that several policymakers were leaning toward slowing the central bank's bond-buying program as early as June if the economy continues to recover.

The central bank is spending $85 billion a month buying bonds. That program has been keeping interest rates low in an effort to encourage borrowing, spending and investing. It's also meant to encourage investors to buy risky assets like stocks.

Investors were also unsettled by the report that showed manufacturing in China, the world's No. 2 economy, unexpectedly shrank this month. HSBC Corp. said the preliminary version of its monthly purchasing managers index had dropped to a seven-month low. China's booming economy has been a major driver of global growth in recent years and investors worry when they see signs that it's slowing down.

Stocks fell sharply in Asia Thursday. Japan's Nikkei index dropped 7.3 percent after news was released about the slowdown in Chinese manufacturing. The declines extended to Europe, where Germany's DAX index, which has been at a record high, slid 2.1 percent.

The sell-off looked set to continue when trading opened in New York, but the market quickly hit bottom and reversed course.

Some investors also reevaluated the concern about the Fed easing, or tapering, its economic stimulus program.

Any pullback of the Fed's stimulus should be seen as a positive signal because it would mean that the U.S. economy is getting stronger, said Joe Quinlan, chief market strategist at U.S. Trust.

 *The NYSE DOW closed  	LOWER ▼	-12.67	points or ▼	-0.08%	Thursday, 23 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,294.50	▼	-12.67	▼	-0.08%	
	Nasdaq___	3,459.42	▼	-3.88	▼	-0.11%	
	S&P_500__	1,650.51	▼	-4.84	▼	-0.29%	
	30_Yr_Bond	3.197	▼	-0.01	▼	-0.37%	

NYSE Volume	4,435,808,500			 		 	
Nasdaq Volume	1,768,799,000			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,696.79	▼	-143.48	▼	-2.10%	
	DAX_____	8,351.98	▼	-178.91	▼	-2.10%	
	CAC_40__	3,967.15	▼	-83.96	▼	-2.07%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5,040.80	▼	-101.30	▼	-1.97%	
	Shanghai_Comp	2,275.67	▼	-26.74	▼	-1.16%	
	Taiwan_Weight	8,237.83	▼	-161.01	▼	-1.92%	
	Nikkei_225____	14,483.98	▼	-1143.28	▼	-7.32%	
	Hang_Seng____	22,669.68	▼	-591.40	▼	-2.54%	
	Strait_Times___	3,390.53	▼	-63.84	▼	-1.85%	
	NZX_50_Index__	4,588.59	▼	-21.59	▼	-0.47%	

http://finance.yahoo.com/news/stocks-edge-lower-investors-reassess-205412590.html

*Stocks edge lower as investors reassess Fed fears

Stocks recover from an early swoon as investors reassess fears that Fed will slow stimulus*

By Steve Rothwell, AP Markets Writer 

Investors recovered their poise after a shaky start to trading on Wall Street that sent stocks sharply lower.

U.S. markets plummeted immediately after the opening bell Thursday following a global slump prompted partly by an unexpected slowdown in Chinese manufacturing. Concern that the Federal Reserve might ease back on its economic stimulus program sooner than expected had also riled investors.

The dip gave investors who missed this year's stock market surge an opportunity to get into the market, and by midday the market had recouped most of its early loss. Stocks even climbed into positive territory by midday, then ended the day marginally lower.

"Most institutions, most hedge funds and most individuals have watched the market go up without them, so the dips are being bought," said Jim Russell, regional investment director at U.S. Bank. "There's a very strong case for U.S. stocks."

For the most part, the U.S. stock market has been going up steadily since the beginning of the year, with only infrequent declines. Investors' optimism has been stoked by a pickup in hiring at U.S. employers, a recovery in the housing market and record profits at U.S. corporations.

All that has helped push the Dow up 16.7 percent this year. The Standard & Poor's 500 index is 15.7 percent than at the start of 2013.

On Thursday, however, trading was volatile.

The Dow Jones industrial average ended the day just 12.67 points lower, or 0.1 percent, at 15,294.50. It fell as much as 127 points during the first hour of trading.

A sell-off in global markets came after minutes from the latest Fed meeting, released Wednesday afternoon, indicated that several policymakers were leaning toward slowing the central bank's bond-buying program as early as June if the economy continues to recover.

The central bank is spending $85 billion a month buying bonds. That program has been keeping interest rates low in an effort to encourage borrowing, spending and investing. It's also meant to encourage investors to buy risky assets like stocks.

Investors were also unsettled by the report that showed manufacturing in China, the world's No. 2 economy, unexpectedly shrank this month. HSBC Corp. said the preliminary version of its monthly purchasing managers index had dropped to a seven-month low. China's booming economy has been a major driver of global growth in recent years and investors worry when they see signs that it's slowing down.

Stocks fell sharply in Asia Thursday. Japan's Nikkei index dropped 7.3 percent after news was released about the slowdown in Chinese manufacturing. The declines extended to Europe, where Germany's DAX index, which has been at a record high, slid 2.1 percent.

The sell-off looked set to continue when trading opened in New York, but the market quickly hit bottom and reversed course.

Some investors also reevaluated the concern about the Fed easing, or tapering, its economic stimulus program.

Any pullback of the Fed's stimulus should be seen as a positive signal because it would mean that the U.S. economy is getting stronger, said Joe Quinlan, chief market strategist at U.S. Trust.

"When the Fed starts to taper, the fundamentals of the U.S. economy have improved even further than we have already seen," said Quinlan. "The Fed tapering is actually a good story for U.S. equities and the economy."

Encouraging news about the U.S. economy also helped the case for stock market bulls Thursday.

Sales of new homes rose in April to the second-highest level since the summer of 2008, the Commerce Department reported Thursday. Also, the median price for a new home hit a record high, another sign that housing is recovering.

There was good news on the labor market, too.

The number of Americans applying for unemployment benefits fell 23,000 last week to 340,000, a level consistent with solid job growth, the Labor Department said. That suggests employers are laying off fewer workers. The decline in claims has coincided with steady job growth over the past six months.

In other U.S. stock trading, the Standard & Poor's 500 index closed down 4.84 points to 1,650.51, or 0.3 percent. The Nasdaq composite fell 3.88 points, or 0.1 percent, to 3,459.42.

In commodities trading, the price of crude oil fell 3 cents to $94.25 a barrel. Gold rose $24.40, or 1.8 percent, to $1,391.80 an ounce. The dollar fell against the euro and the yen.

In U.S. government bond trading, the yield on the benchmark 10-year Treasury note edged down to 2.02 percent from 2.04 percent. The yield on the note falls when the bond's price rises.

Among stocks making big moves, Ralph Lauren fell $4.37, or 2.3 percent, to $183.69. The apparel seller reported revenue that fell short of what financial analysts were expecting. Sluggish economic conditions and the decision to cut certain businesses reduced sales.

PC maker Hewlett-Packard surged $3.63, or 17.1 percent, to $24.86 after the company delivered second-quarter earnings that topped the estimates of both its own management and financial analysts.

Dollar Tree rose $1.82, or 3.8 percent, to $50.19 after the discount store chain said its earnings climbed 15 percent as customers spent more. The earnings beat the expectations of Wall Street analysts who follow the company.


----------



## bigdog

Source: http://finance.yahoo.com 

Major stock indexes closed out their first weekly loss in a month in quiet trading Friday.

The Standard & Poor's 500 index dropped 0.91 of a point to close at 1,649.60. The Dow Jones industrial average rose 8.60 points to 15,303, a gain of 0.1 percent. Procter & Gamble supported the Dow with an increase of 4 percent.

Both indexes had their first weekly losses since the week ending April 19. A disappointing manufacturing report out of China and a sharp fall in Japan's stock market rattled investors' nerves this week. But anxiety over the Federal Reserve's bond-buying program was the main culprit. Some investors interpreted comments from Fed officials to mean that the bank may start pulling its support for the economy sooner than they expected.

The S&P 500, widely used by mutual funds as a proxy for the stock market, lost 1.1 percent for the week. It's still up 15.7 percent for the year.

Marty Leclerc, the managing partner of Barrack Yard Advisors, an investment firm in Bryn Mawr, Pa., said the weekly drop wasn't cause for concern. Even market rallies have to take the occasional break, he said.

"It's up like a rocket blast this year," Leclerc said of the stock market. "For there to be a little bit of a pullback is perfectly understandable."

The market headed lower at the start of trading on Friday, then spent the rest of the day slowly recovering ground. By the closing bell, market indexes were roughly back to where they started.

Procter & Gamble announced late Thursday that it's bringing back its former CEO, A.G. Lafley, to run the company. The world's largest consumer-products maker, whose brands include Tide and Crest, is trying to increase sales in the face of tough competition. P&G rose $3.18 to $81.88.

Sears plunged 14 percent after the department-store chain reported a steep quarterly loss and slumping sales after the market closed Thursday. Sears lost $7.92 to $50.25.

The Nasdaq composite slipped 0.27 of a point to 3,459.14.

Eight of the 10 industry groups in the S&P 500 fell. Only financial stocks and consumer staples makers rose. 

 *The NYSE DOW closed  	HIGHER ▲	8.60	points or ▲	0.06%	Friday, 24 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,303.10	▲	8.60	▲	0.06%	
	Nasdaq___	3,459.14	▼	-0.27	▼	-0.01%	
	S&P_500__	1,649.60	▼	-0.91	▼	-0.06%	
	30_Yr_Bond	3.170	▼	-0.02	▼	-0.69%	

NYSE Volume	3,037,142,250			 		 	
Nasdaq Volume	1,419,622,250			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,654.34	▼	-42.45	▼	-0.63%	
	DAX_____	8,305.32	▼	-46.66	▼	-0.56%	
	CAC_40__	3,956.79	▼	-10.36	▼	-0.26%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,964.30	▼	-76.50	▼	-1.52%	
	Shanghai_Comp	2,288.53	▲	12.87	▲	0.57%	
	Taiwan_Weight	8,209.78	▼	-28.05	▼	-0.34%	
	Nikkei_225____	14,612.45	▲	128.47	▲	0.89%	
	Hang_Seng____	22,618.67	▼	-51.01	▼	-0.23%	
	Strait_Times___	3,393.17	▼	-61.20	▼	-1.77%	
	NZX_50_Index__	4,526.24	▼	-62.35	▼	-1.36%	

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Stocks barely budge; market ends week with loss

Stocks trade flat; market ends week lower for the first time since April *

Matthew Craft, AP Business Writer 

Major stock indexes closed out their first weekly loss in a month in quiet trading Friday.

The Standard & Poor's 500 index dropped 0.91 of a point to close at 1,649.60. The Dow Jones industrial average rose 8.60 points to 15,303, a gain of 0.1 percent. Procter & Gamble supported the Dow with an increase of 4 percent.

Both indexes had their first weekly losses since the week ending April 19. A disappointing manufacturing report out of China and a sharp fall in Japan's stock market rattled investors' nerves this week. But anxiety over the Federal Reserve's bond-buying program was the main culprit. Some investors interpreted comments from Fed officials to mean that the bank may start pulling its support for the economy sooner than they expected.

The S&P 500, widely used by mutual funds as a proxy for the stock market, lost 1.1 percent for the week. It's still up 15.7 percent for the year.

Marty Leclerc, the managing partner of Barrack Yard Advisors, an investment firm in Bryn Mawr, Pa., said the weekly drop wasn't cause for concern. Even market rallies have to take the occasional break, he said.

"It's up like a rocket blast this year," Leclerc said of the stock market. "For there to be a little bit of a pullback is perfectly understandable."

The market headed lower at the start of trading on Friday, then spent the rest of the day slowly recovering ground. By the closing bell, market indexes were roughly back to where they started.

Procter & Gamble announced late Thursday that it's bringing back its former CEO, A.G. Lafley, to run the company. The world's largest consumer-products maker, whose brands include Tide and Crest, is trying to increase sales in the face of tough competition. P&G rose $3.18 to $81.88.

Sears plunged 14 percent after the department-store chain reported a steep quarterly loss and slumping sales after the market closed Thursday. Sears lost $7.92 to $50.25.

The Nasdaq composite slipped 0.27 of a point to 3,459.14.

Eight of the 10 industry groups in the S&P 500 fell. Only financial stocks and consumer staples makers rose.

The stock market slipped Friday despite an encouraging report on U.S. manufacturing. The government said orders for long-lasting goods rebounded in April, helped by demand for aircraft and stronger business spending. The report suggests economic growth may hold steady this spring.

Until this week, signs of slow but steady economic growth and record profits for big companies had propelled stock-market indexes to all-time highs.

All but 11 companies in the S&P 500 have posted their first-quarter earnings, and the results have turned out much better than expected. Nearly seven of 10 have reported higher earnings than analysts had estimated. Overall profits in the first quarter are on track to climb 5 percent over the year before.

In the market for U.S. government bonds, the yield on the 10-year Treasury note dipped to 2.01 percent from 2.02 percent late Thursday.

The price of crude oil slipped 10 cents to settle at $94.15 a barrel, ending with a drop of $1.87 for the week. Gold lost $5.20 to $1,386.60 an ounce.

Trading was light ahead of the long weekend. U.S. financial markets will be closed Monday for Memorial Day.

Among other stocks in the news Friday:

”” Intuitive Surgical gained 5 percent after a jury decided in favor of the maker of robotic medical equipment in the first of many lawsuits filed against the company. The plaintiffs argued that Intuitive was negligent in training doctors to use its equipment. Intuitive's stock rose $23.07 to $501.53.

”” Titan Machinery plunged 9 percent. The company, which deals in agricultural and construction equipment, said late Thursday that weaker revenue will lead it to a wider quarterly loss than it had expected. Titan's stock lost $2.10 to $20.40.

2311


----------



## bigdog

Source: http://finance.yahoo.com 

*Markets in Britain and the U.S. were closed for public holidays on Monday May 27*

With U.S. markets closed, world stocks ended Monday mostly higher ”” with Japan the notable exception as the Nikkei sold off sharply for the second time in a week.

The decline came after Bank of Japan Governor Haruhiko Karoda said over the weekend Japanese interest rates could rise without causing instability, despite the country's large national debt.

The Nikkei 225 shed 3.2 percent to close at 14,142.65, with exporters hit hardest due to the rising yen. That's the reverse of the picture for most of this year, as yen losses have helped propel the index to a 36 percent gain since January.

Among major losers Monday, Nissan Motor Corp. dropped 6.8 percent. Yamaha Motor Co. tumbled 7.9 percent. Sony Corp. slid 6.3 percent.

The index also lost 7.3 percent on May 23, as investors have begun to wonder whether potential benefits of Prime Minister Shinzo Abe's aggressive campaign to lift consumer prices and encourage borrowing and spending have already been priced in.

In European trading, Germany's DAX rose 0.9 percent to 8,381.30. France's CAC-40 advanced 0.9 percent to 3,994.25. Markets in Britain and the U.S. were closed for public holidays.

European Central Bank board member Joerg Asmussen said in a speech in Berlin that with the Eurozone countries in recession, the bank would continue to pursue easy monetary policy "as long as necessary."

Cees Smit, director at Amsterdam brokerage Today's Vermogensbeheer in Amsterdam, said most of the excitement in European stocks came in the morning.

"We were looking at Japan earlier and it was surprising how well European markets were reacting," he said.

He said trade had quieted by the afternoon and stocks drifted off their earlier highs as investors began contemplating U.S. May unemployment figures due out Tuesday.

Other global markets were mixed.

Hopes for a global economic recovery were undermined last week when a survey on China's monthly manufacturing pace showed a bigger-than-expected decline. Less-than-clear indications from the U.S. Federal Reserve on whether it might scale back its aggressive bond-buying program, dubbed quantitative easing or QE, also caused investors to curb their enthusiasm. 

*The NYSE DOW closed  	HIGHER ▲	8.60	points or ▲	0.06%	on Friday, 24 May 2013 
Symbol …........Last ......Change..... * 
Dow_Jones	15,303.10	▲	8.60	▲	0.06%	
Nasdaq___	3,459.14	▼	-0.27	▼	-0.01%	
S&P_500__	1,649.60	▼	-0.91	▼	-0.06%	
30_Yr_Bond	3.170	▼	-0.02	▼	-0.69%	

NYSE Volume	3,037,142,250			 		 	
Nasdaq Volume	1,419,622,250			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
FTSE_100	6,654.34	▼	-42.45	▼	-0.63%	closed for holiday on Monday
	DAX_____	8,383.30	▲	77.98	▲	0.94%	
	CAC_40__	3,995.16	▲	38.37	▲	0.97%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,938.60	▼	-25.70	▼	-0.52%	
	Shanghai_Comp	2,293.08	▲	4.54	▲	0.20%	
	Taiwan_Weight	8,280.10	▲	70.32	▲	0.86%	
	Nikkei_225____	14,142.65	▼	-469.80	▼	-3.22%	
	Hang_Seng____	22,686.05	▲	67.38	▲	0.30%	
	Strait_Times___	3,389.04	▼	-4.13	▼	-0.12%	
	NZX_50_Index__	4,478.20	▼	-48.04	▼	-1.06%	

http://finance.yahoo.com/news/world-markets-mixed-japan-market-143242983.html

*World markets mixed after Japan market dip

World stocks higher despite Japanese market slide*

By Toby Sterling, AP Business Writer

With U.S. markets closed, world stocks ended Monday mostly higher ”” with Japan the notable exception as the Nikkei sold off sharply for the second time in a week.

The decline came after Bank of Japan Governor Haruhiko Karoda said over the weekend Japanese interest rates could rise without causing instability, despite the country's large national debt.

The Nikkei 225 shed 3.2 percent to close at 14,142.65, with exporters hit hardest due to the rising yen. That's the reverse of the picture for most of this year, as yen losses have helped propel the index to a 36 percent gain since January.

Among major losers Monday, Nissan Motor Corp. dropped 6.8 percent. Yamaha Motor Co. tumbled 7.9 percent. Sony Corp. slid 6.3 percent.

The index also lost 7.3 percent on May 23, as investors have begun to wonder whether potential benefits of Prime Minister Shinzo Abe's aggressive campaign to lift consumer prices and encourage borrowing and spending have already been priced in.

In European trading, Germany's DAX rose 0.9 percent to 8,381.30. France's CAC-40 advanced 0.9 percent to 3,994.25. Markets in Britain and the U.S. were closed for public holidays.

European Central Bank board member Joerg Asmussen said in a speech in Berlin that with the Eurozone countries in recession, the bank would continue to pursue easy monetary policy "as long as necessary."

Cees Smit, director at Amsterdam brokerage Today's Vermogensbeheer in Amsterdam, said most of the excitement in European stocks came in the morning.

"We were looking at Japan earlier and it was surprising how well European markets were reacting," he said.

He said trade had quieted by the afternoon and stocks drifted off their earlier highs as investors began contemplating U.S. May unemployment figures due out Tuesday.

Other global markets were mixed.

Hopes for a global economic recovery were undermined last week when a survey on China's monthly manufacturing pace showed a bigger-than-expected decline. Less-than-clear indications from the U.S. Federal Reserve on whether it might scale back its aggressive bond-buying program, dubbed quantitative easing or QE, also caused investors to curb their enthusiasm.

Hong Kong's Hang Seng index reversed early losses Monday to rise 0.3 percent to 22,686.05 after pledges by China's leaders to pursue sustainable growth helped push up alternative energy stocks. China Everbright International jumped 5 percent. Anton Oilfield Services, which is pursuing shale gas development in China, surged 8.3 percent.

"We have seen a lot of funds buying into shale gas, wind power and environmental protection," said Jackson Wong, vice president at Tanrich Securities in Hong Kong. Wong also said that a recovery in mainland Chinese stocks helped the Hang Seng.

South Korea's Kospi gained 0.3 percent to 1,979.97. Benchmarks in mainland China and Taiwan rose. Australia's S&P/ASX 200 declined 0.5 percent to 4,959.90. Benchmarks in the Philippines, New Zealand and Indonesia fell.

Benchmark oil for July delivery was down 55 cents to $93.60 in electronic trading on the New York Mercantile Exchange. The contract fell 10 cents to $94.15 a barrel on the Nymex on Friday.

In currencies, the euro dropped slightly to $1.29324 from $1.2934 late Friday in New York. The dollar was at 101.09 yen, down from last week's high of more than 103 yen per dollar.


----------



## bigdog

Source: http://finance.yahoo.com 

A rally that brought the stock market to record highs this year came back to life after consumer confidence reached a five-year high and U.S. home prices rose the most in seven years. As stock prices rose investors sold bonds, sending interest rates higher.

The Dow Jones industrial average rose 106 points to close at another record Tuesday, bouncing back from a loss the week before. The Standard & Poor's 500 index also gained. The S&P is on track for its seventh straight monthly increase, the longest winning streak since 2009.

"They say the stock market tends to lead the economy. Now we're starting to see the improvement on the economic front, so there's some justification for this rally," said Ryan Detrick, a senior technical strategist at Schaeffer's investment research.

The yield on the 10-year Treasury note jumped to 2.17 percent, its highest level since April 2012, as investors moved money out of safe assets and into riskier ones like stocks. That's a big move from Friday's level of 2.01 percent. Markets were closed Monday for Memorial Day.

The stock market is coming off a rare loss last week, when both the Dow and the S&P 500 index had their first losing weeks in a month. Investors worried that the Federal Reserve might slow its extraordinary economic stimulus measures, which have also supported the stock market's advance.

The gains were broad. Eight of the 10 industry groups in the S&P 500 index rose, led by financial stocks. The only groups that fell were utilities and telecommunication companies, which investors tend to buy when they're seeking stable, safe stocks that pay high dividends. All but six of the 30 stocks in the Dow rose.

Some of the most eye-catching price moves were in the bond market.

Bond yields are rising in anticipation that the Fed may ease back on its $85 billion monthly bond purchases. Tim Courtney, chief investment officer at Exencial Wealth Advisors, is among those who see a bleak outlook for the bond market. While inflation is currently low, it will likely start to rise within one or two years if the economy continues to improve, Courtney said.

Higher inflation prompts investors to demand higher yields, pushing down bond prices and inflicting losses on bond investors.

"The only way that bonds can make money from here is if we go a prolonged period of time with very, very low inflation and rates just don't move up a whole lot at all," said Courtney. "Under any other scenario they lose."

Treasury yields are used as benchmarks to set interest rates for consumer loans and mortgages. While they have increased sharply this month, they are still relatively close to the record low of 1.39 percent reached last July.

The Standard & Poor's/Case-Shiller survey, which was released before stock trading opened, found that U.S. home prices rose 10.9 percent in March, the most since April 2006. A growing number of buyers are bidding on a tight supply of homes. Beazer Homes jumped 44 cents, or 2.1 percent, to $21.79.

Stocks extended their gains in the morning after the Conference Board reported at 10 a.m. that its measure of consumer confidence rose in May to its highest level since February 2008.

The Dow was up as much as 218 in the early going, then gave up some of its gain in the afternoon.

Some analysts said investors were likely booking gains as the end of the month approached on Friday. The Dow is up 3.8 percent so far in May. The S&P 500 is 3.9 percent higher.

"It's the end of the month," said Quincy Krosby, a market strategist at Prudential Financial. "If you've been long and you'd done very well you want to lock in those gains."

The Dow closed 106.29 points, or 0.7 percent, higher at 15,409.39. The index has risen for 20 straight Tuesdays. The longest streak of consecutive gains for any day of the week was sent in 1968, when there were 24 gains on Wednesdays, according to Schaeffer's Investment Research.

The S&P 500 index rose 10.46 points, or 0.6 percent, to 1,660.06. The Nasdaq composite index climbed 29.74 points, or 0.9 percent, to 3,488.89.

The Dow has advanced 17.6 percent this year and the S&P 500 index is 16.4 percent higher as investors have piled into stocks. 

 *The NYSE DOW closed  	HIGHER ▲	106.29	points or ▲	0.69%	Tuesday, 28 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,409.39	▲	106.29	▲	0.69%	
	Nasdaq___	3,488.89	▲	29.74	▲	0.86%	
	S&P_500__	1,660.06	▲	10.46	▲	0.63%	
	30_Yr_Bond	3.290	▲	0.12	▲	3.62%	

NYSE Volume	3,798,953,500			 		 	
Nasdaq Volume	1,718,659,000			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,762.01	▲	107.67	▲	1.62%	
	DAX_____	8,480.87	▲	97.57	▲	1.16%	
	CAC_40__	4,050.56	▲	55.40	▲	1.39%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,950.60	▲	12.00	▲	0.24%	
	Shanghai_Comp	2,321.32	▲	28.24	▲	1.23%	
	Taiwan_Weight	8,263.05	▼	-17.05	▼	-0.21%	
	Nikkei_225____	14,311.98	▲	169.33	▲	1.20%	
	Hang_Seng____	22,924.25	▲	238.20	▲	1.05%	
	Strait_Times___	3,406.08	▲	14.78	▲	0.44%	
	NZX_50_Index__	4,478.25	▲	0.05	▲	0.00%	

http://finance.yahoo.com/news/stock...M2MTYyYTM4BHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks jump after confidence, house prices surge

Stocks rise sharply after consumer confidence gains, house prices rise; Treasury yields surge*

By Steve Rothwell, AP Markets Writer 

A rally that brought the stock market to record highs this year came back to life after consumer confidence reached a five-year high and U.S. home prices rose the most in seven years. As stock prices rose investors sold bonds, sending interest rates higher.

The Dow Jones industrial average rose 106 points to close at another record Tuesday, bouncing back from a loss the week before. The Standard & Poor's 500 index also gained. The S&P is on track for its seventh straight monthly increase, the longest winning streak since 2009.

"They say the stock market tends to lead the economy. Now we're starting to see the improvement on the economic front, so there's some justification for this rally," said Ryan Detrick, a senior technical strategist at Schaeffer's investment research.

The yield on the 10-year Treasury note jumped to 2.17 percent, its highest level since April 2012, as investors moved money out of safe assets and into riskier ones like stocks. That's a big move from Friday's level of 2.01 percent. Markets were closed Monday for Memorial Day.

The stock market is coming off a rare loss last week, when both the Dow and the S&P 500 index had their first losing weeks in a month. Investors worried that the Federal Reserve might slow its extraordinary economic stimulus measures, which have also supported the stock market's advance.

The gains were broad. Eight of the 10 industry groups in the S&P 500 index rose, led by financial stocks. The only groups that fell were utilities and telecommunication companies, which investors tend to buy when they're seeking stable, safe stocks that pay high dividends. All but six of the 30 stocks in the Dow rose.

Some of the most eye-catching price moves were in the bond market.

Bond yields are rising in anticipation that the Fed may ease back on its $85 billion monthly bond purchases. Tim Courtney, chief investment officer at Exencial Wealth Advisors, is among those who see a bleak outlook for the bond market. While inflation is currently low, it will likely start to rise within one or two years if the economy continues to improve, Courtney said.

Higher inflation prompts investors to demand higher yields, pushing down bond prices and inflicting losses on bond investors.

"The only way that bonds can make money from here is if we go a prolonged period of time with very, very low inflation and rates just don't move up a whole lot at all," said Courtney. "Under any other scenario they lose."

Treasury yields are used as benchmarks to set interest rates for consumer loans and mortgages. While they have increased sharply this month, they are still relatively close to the record low of 1.39 percent reached last July.

The Standard & Poor's/Case-Shiller survey, which was released before stock trading opened, found that U.S. home prices rose 10.9 percent in March, the most since April 2006. A growing number of buyers are bidding on a tight supply of homes. Beazer Homes jumped 44 cents, or 2.1 percent, to $21.79.

Stocks extended their gains in the morning after the Conference Board reported at 10 a.m. that its measure of consumer confidence rose in May to its highest level since February 2008.

The Dow was up as much as 218 in the early going, then gave up some of its gain in the afternoon.

Some analysts said investors were likely booking gains as the end of the month approached on Friday. The Dow is up 3.8 percent so far in May. The S&P 500 is 3.9 percent higher.

"It's the end of the month," said Quincy Krosby, a market strategist at Prudential Financial. "If you've been long and you'd done very well you want to lock in those gains."

The Dow closed 106.29 points, or 0.7 percent, higher at 15,409.39. The index has risen for 20 straight Tuesdays. The longest streak of consecutive gains for any day of the week was sent in 1968, when there were 24 gains on Wednesdays, according to Schaeffer's Investment Research.

The S&P 500 index rose 10.46 points, or 0.6 percent, to 1,660.06. The Nasdaq composite index climbed 29.74 points, or 0.9 percent, to 3,488.89.

The Dow has advanced 17.6 percent this year and the S&P 500 index is 16.4 percent higher as investors have piled into stocks.

Unlike the first three months of the year, when the biggest gains were in large companies in steady industries that pay big dividends, investors have been bidding up the stocks of companies that will gain more if the economy continues to strengthen. That shift out of lower-risk stocks, like utilities, and into more "cyclical" stocks, like banks and industrial companies, means investors are becoming more aggressive in seeking returns and more comfortable taking on risk.

Another bullish signal for the market is the strong growth in small-company stocks. Those stocks have a greater potential for appreciation but also tend to carry greater risk than large, diversified companies. The preference for small stocks was on display again Tuesday as the Russell 2000 index of small-company stocks rose 1.3 percent, more than other market indexes, to 997.35 points, a gain of 13.08 points. Its year-to-date increase of 17.4 percent is 1 percentage point greater than that of the S&P 500.

Among other stocks making big moves:

””Tiffany rose $3.01, or 3.9 percent, to $79.22 after the high-end jewelry seller said its first quarter net income rose 3 percent as sales improved across all regions. The results beat the forecasts of Wall Street analysts.

””Tesla Motors jumped $13.25, or 13.7 percent, to $110.33. Last week the electric car maker raised almost $1 billion from a bond and stock offering and paid off a government loan nine years early. The company is also set to announce this week that it's expanding a network of car-charging stations.

””Railway operator CSX fell 20 cents, or 0.8 percent, to $25.30 after one of its freight trains derailed in a Baltimore suburb.

””Electricity company FirstEnergy dropped 6.5 percent, or $2.76, to $39.86 after Credit Suisse stripped the company of its "outperform" rating, saying that a glut of energy would push down prices the company is able to charge.

In commodities trading, the price of oil rose 86 cents, or 0.9 percent, to $95.01. Gold fell $7.70, or 0.6 percent, to $1,378.90 an ounce. The dollar rose against the euro and the Japanese yen.


----------



## bigdog

Source: http://finance.yahoo.com 

Wall Street's passion for high-dividend stocks is fading.

The stock market closed lower Wednesday, led by the same industry groups that had the biggest gains early in the year: rich dividend payers like power utilities and makers of consumer staples.

Rising bond yields have been an important factor behind that shift.

The yield on the 10-year Treasury note has risen sharply this month and is close to a 13-month high. That's helping diminish the appeal of so-called "defensive" stocks that the market favored in the first three months of the year. Utilities stocks have slumped 9.2 percent this month.

More broadly, after this year's powerful bull run ”” the Dow Jones industrial average is up 16.8 percent, the Standard & Poor's 500 index 15.6 percent ”” investors may be running out of reasons to keep plowing money into the stock market.

"There's a vacuum of catalysts to continue to push (stocks) higher," said Sam Stovall, chief U.S. equity strategist for S&P Capital IQ. Now, Stovall said, investors are wondering: " 'Well, should I take some profits and sit on the sidelines and then get back in?' "

Stovall noted that the S&P 500 has had a temporary pullback of at least 5 percent every year since the end of the World War II. That hasn't happened yet in 2013.

Investors have been encouraged by positive signs on the economy recently, including sharp increases reported Tuesday in home prices and consumer confidence. Investors worry, however, that the Federal Reserve will start to ease back on its stimulus program as the economy improves.

The powerful run-up in stock prices has been encouraged by the Fed. The central bank has been buying $85 billion of bonds each month in an effort to keep interest rates low and encourage borrowing, lending and investing. With rates low, investors have sought stocks as an alternative to bonds.

Minutes of a Fed meeting released last Wednesday brought news that some policymakers favored scaling back the bond purchases as early as next month, providing the economy picks up. That pushed stock markets to a decline last week, the first weekly drop in five. Those concerns have also led traders to sell bonds, pushing long-term interest rates higher.

"At some point, interest rates will go up and that's obviously having some impact on stocks," said Erik Davidson, deputy chief investment officer for Wells Fargo Private Bank. "And you're seeing it in the sectors that you would expect. The hardest sectors hit recently have been ... the more dividend-driven stock sectors."

Real estate investment trusts, or REITs, another investment favored by investors seeking income, have also been hit as Treasury yields climb. Vanguard's exchange-traded REIT fund has fallen for five straight days, cutting its gains this year to 10.9 percent from 19.7 percent.

The Dow closed down 106.59 points at 15,302.80, a loss of 0.7 percent. That decline matched its advance the day before, when it closed at a record high, the ninth time it has done so this month. The Dow was down as much as 179 points in late morning trading, then rose moderately in the afternoon.

The S&P 500 index was down 11.70 points to 1,648.36, also 0.7 percent. The Nasdaq composite lost 21.37 points to 3,467.52, or 0.6 percent.

The S&P 500 is headed for a seventh consecutive month of increases, the longest winning streak since 2009. The Dow is on track to end higher for a sixth straight month.

Nine of the 10 sectors in the S&P 500 fell, led by declines of 1.9 percent for consumer staples and 1.5 percent for utilities. In the first three months of the year they were among the biggest winners.

Despite the decline in stocks, it seems too early to call an end to the rally. On several trading days this year, stocks have had sharp sell-offs, only to rise again as investors took advantage of the dip in prices to get into the market. 

 *The NYSE DOW closed  	LOWER ▼	-106.59	points or ▼	-0.69%	Wednesday, 29 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,302.80	▼	-106.59	▼	-0.69%	
	Nasdaq___	3,467.52	▼	-21.37	▼	-0.61%	
	S&P_500__	1,648.36	▼	-11.70	▼	-0.70%	
	30_Yr_Bond	3.270	▼	-0.02	▼	-0.55%	

NYSE Volume	3,969,497,750			 		 	
Nasdaq Volume	1,754,261,380			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,627.17	▼	-134.84	▼	-1.99%	
	DAX_____	8,336.58	▼	-144.29	▼	-1.70%	
	CAC_40__	3,974.12	▼	-76.44	▼	-1.89%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,959.20	▲	8.60	▲	0.17%	
	Shanghai_Comp	2,324.02	▲	2.70	▲	0.12%	
	Taiwan_Weight	8,337.90	▲	74.85	▲	0.91%	
	Nikkei_225____	14,326.46	▲	14.48	▲	0.10%	
	Hang_Seng____	22,554.93	▼	-369.32	▼	-1.61%	
	Strait_Times___	3,372.11	▼	-33.97	▼	-1.00%	
	NZX_50_Index__	4,488.26	▲	10.01	▲	0.22%	

http://finance.yahoo.com/news/stocks-fall-dow-average-pulls-155607091.html

*Stocks fall; Dow average pulls back from a record

Stocks market falls as investors shift out of high-dividend stocks; Dow pulls back from record*

By Steve Rothwell, AP Markets Writer

Wall Street's passion for high-dividend stocks is fading.

The stock market closed lower Wednesday, led by the same industry groups that had the biggest gains early in the year: rich dividend payers like power utilities and makers of consumer staples.

Rising bond yields have been an important factor behind that shift.

The yield on the 10-year Treasury note has risen sharply this month and is close to a 13-month high. That's helping diminish the appeal of so-called "defensive" stocks that the market favored in the first three months of the year. Utilities stocks have slumped 9.2 percent this month.

More broadly, after this year's powerful bull run ”” the Dow Jones industrial average is up 16.8 percent, the Standard & Poor's 500 index 15.6 percent ”” investors may be running out of reasons to keep plowing money into the stock market.

"There's a vacuum of catalysts to continue to push (stocks) higher," said Sam Stovall, chief U.S. equity strategist for S&P Capital IQ. Now, Stovall said, investors are wondering: " 'Well, should I take some profits and sit on the sidelines and then get back in?' "

Stovall noted that the S&P 500 has had a temporary pullback of at least 5 percent every year since the end of the World War II. That hasn't happened yet in 2013.

Investors have been encouraged by positive signs on the economy recently, including sharp increases reported Tuesday in home prices and consumer confidence. Investors worry, however, that the Federal Reserve will start to ease back on its stimulus program as the economy improves.

The powerful run-up in stock prices has been encouraged by the Fed. The central bank has been buying $85 billion of bonds each month in an effort to keep interest rates low and encourage borrowing, lending and investing. With rates low, investors have sought stocks as an alternative to bonds.

Minutes of a Fed meeting released last Wednesday brought news that some policymakers favored scaling back the bond purchases as early as next month, providing the economy picks up. That pushed stock markets to a decline last week, the first weekly drop in five. Those concerns have also led traders to sell bonds, pushing long-term interest rates higher.

"At some point, interest rates will go up and that's obviously having some impact on stocks," said Erik Davidson, deputy chief investment officer for Wells Fargo Private Bank. "And you're seeing it in the sectors that you would expect. The hardest sectors hit recently have been ... the more dividend-driven stock sectors."

Real estate investment trusts, or REITs, another investment favored by investors seeking income, have also been hit as Treasury yields climb. Vanguard's exchange-traded REIT fund has fallen for five straight days, cutting its gains this year to 10.9 percent from 19.7 percent.

The Dow closed down 106.59 points at 15,302.80, a loss of 0.7 percent. That decline matched its advance the day before, when it closed at a record high, the ninth time it has done so this month. The Dow was down as much as 179 points in late morning trading, then rose moderately in the afternoon.

The S&P 500 index was down 11.70 points to 1,648.36, also 0.7 percent. The Nasdaq composite lost 21.37 points to 3,467.52, or 0.6 percent.

The S&P 500 is headed for a seventh consecutive month of increases, the longest winning streak since 2009. The Dow is on track to end higher for a sixth straight month.

Nine of the 10 sectors in the S&P 500 fell, led by declines of 1.9 percent for consumer staples and 1.5 percent for utilities. In the first three months of the year they were among the biggest winners.

Despite the decline in stocks, it seems too early to call an end to the rally. On several trading days this year, stocks have had sharp sell-offs, only to rise again as investors took advantage of the dip in prices to get into the market.

The Dow fell 1.8 percent April 15 on concerns that a slowdown in China would trip up global economic growth. It has risen 5.5 percent since then. The index also slid 1.6 percent Feb. 25 on concerns that the European debt crisis would disrupt global markets again. The Dow shook off that loss too, and is up 11 percent since then.

The yield on the 10-year Treasury note fell to 2.12 percent from 2.17 percent late Tuesday. The yield surged Tuesday to its highest level in 13 months as investors moved money out of bonds. The yield has risen sharply from 1.63 percent at the beginning of the month.

In another sign of shifting sentiment, a measure of investor's expectations of market volatility has been increasing. The Chicago Board of Exchange's VIX index climbed 2.7 percent Wednesday, its sixth increase in seven days.

In commodities trading, the price of crude oil fell $1.88, or 2 percent, to $93.13 a barrel. Gold rose $12.40, or 0.9 percent, to $1,391.30 an ounce. The dollar fell against the euro and the Japanese yen.

Among stocks making big moves:

”” Smithfield Foods surged $7.38, or 28 percent, to $33.35 after the company agreed to be acquired by meat processor Shuanghui International Holdings for about $4.7 billion.

”” Stewart Enterprises rose $3.23, or 33 percent, to $12.97 after the funeral company agreed to be acquired by Service Corp International for $1.1 billion in cash.

”” Sallie Mae jumped 50 cents, or 2.2 percent, to $23.48. The company, which is formally named SLM Corp., announced a plan to split into two companies, one that manages student loans and a consumer banking business.

”” Michael Kors Holdings rose $1.97, or 3.2 percent, to $63.95 after the fashion company reported that its profit more than doubled on surging sales in the fourth quarter, capping another strong year.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market rose Thursday after a pair of lackluster economic reports raised expectations that the Federal Reserve will continue to boost the economy with its stimulus program.

Unemployment claims rose and an initial estimate of first-quarter economic growth was revised slightly lower. That suggests the U.S. economy may still need some time to recover from its funk and that the Fed will keep up its $85 billion in monthly bond purchases.

"The big worry that's been hitting the market lately, that the Fed might step back prematurely, might be fading a little today on the idea that the economy does need a bit more support," Jeff Kleintop, chief market strategist at LPL Financial, said.

The rise in the Standard & Poor's 500 index was led by banking and insurance stocks, which gained 1.1 percent. Among individual bank stocks, Bank of America rose to its highest in more than two years. JPMorgan also climbed.

Banks and other stocks that stand to benefit the most from an improving economy have surged this week, a change from earlier in the year when investors favored dividend-rich stocks like utilities. Now investors are selling dividend-rich stocks and buying so-called growth stocks. The S&P's financial index is up 2.1 percent this week; its utilities index is down 2.5 percent.

Even after this week's gain, by one measure bank stocks are still less expensive than the broader market. The price-to-earnings ratio for financial companies is 14.4 for banks and insurers, compared with 16.2 for all companies in the S&P 500 index, according to FactSet.

Banks are also attractive to investors because they have the capacity to increase their dividends from the current low levels, having bolstered their cash reserves after the financial crisis, Michael Sheldon, chief market strategist at RDM Financial, said. 

The S&P 500 rose in early trading, climbing as much as 13.6 points, or 0.8 percent, by late afternoon. The index then gave up some of the gains in the last hour of trading to end up just 6.05 points, or 0.4 percent, at 1,654.41.

The Dow closed up 21.73 points, or 0.1 percent, at 15,324.53 points.

In other trading, the Nasdaq composite index rose 23.78 points, or 0.7 percent, to 3,491.30.

Stock investors have had a good year so far. The Dow is 16.9 percent higher and has set record closing highs on nine days in May. The S&P 500 index is up 16 percent and is on track to rise for a seventh straight month, its longest winning streak since 2009. 	 	

 *The NYSE DOW closed  	HIGHER ▲	21.73	points or ▲	0.14%	Thursday, 30 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,324.53	▲	21.73	▲	0.14%	
	Nasdaq___	3,491.30	▲	23.78	▲	0.69%	
	S&P_500__	1,654.41	▲	6.05	▲	0.37%	
	30_Yr_Bond	3.287	▲	0.02	▲	0.46%	

NYSE Volume	3,833,455,000			 		 	
Nasdaq Volume	1,748,816,120			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,656.99	▲	29.82	▲	0.45%	
	DAX_____	8,400.20	▲	63.62	▲	0.76%	
	CAC_40__	3,996.31	▲	22.19	▲	0.56%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,917.10	▼	-42.10	▼	-0.85%	
	Shanghai_Comp	2,317.75	▼	-6.27	▼	-0.27%	
	Taiwan_Weight	8,243.29	▼	-94.61	▼	-1.13%	
	Nikkei_225____	13,589.03	▼	-737.43	▼	-5.15%	
	Hang_Seng____	22,484.31	▼	-70.62	▼	-0.31%	
	Strait_Times___	3,329.91	▼	-37.56	▼	-1.12%	
	NZX_50_Index__	4,470.51	▼	-17.75	▼	-0.40%	

http://finance.yahoo.com/news/stocks-rise-lackluster-reports-ease-161432220.html

*Stocks rise as lackluster reports ease Fed concern

Stocks rise as weak economic reports ease Fed worries; financial companies lead gains*

By Steve Rothwell, AP Markets Writer 

The stock market rose Thursday after a pair of lackluster economic reports raised expectations that the Federal Reserve will continue to boost the economy with its stimulus program.

Unemployment claims rose and an initial estimate of first-quarter economic growth was revised slightly lower. That suggests the U.S. economy may still need some time to recover from its funk and that the Fed will keep up its $85 billion in monthly bond purchases.

"The big worry that's been hitting the market lately, that the Fed might step back prematurely, might be fading a little today on the idea that the economy does need a bit more support," Jeff Kleintop, chief market strategist at LPL Financial, said.

The rise in the Standard & Poor's 500 index was led by banking and insurance stocks, which gained 1.1 percent. Among individual bank stocks, Bank of America rose to its highest in more than two years. JPMorgan also climbed.

Banks and other stocks that stand to benefit the most from an improving economy have surged this week, a change from earlier in the year when investors favored dividend-rich stocks like utilities. Now investors are selling dividend-rich stocks and buying so-called growth stocks. The S&P's financial index is up 2.1 percent this week; its utilities index is down 2.5 percent.

Even after this week's gain, by one measure bank stocks are still less expensive than the broader market. The price-to-earnings ratio for financial companies is 14.4 for banks and insurers, compared with 16.2 for all companies in the S&P 500 index, according to FactSet.

Banks are also attractive to investors because they have the capacity to increase their dividends from the current low levels, having bolstered their cash reserves after the financial crisis, Michael Sheldon, chief market strategist at RDM Financial, said.

"Banks appear to be on the mend," said Sheldon.

Bank of America rose 35 cents, or 2.6 percent, to $13.87. JPMorgan gained 95 cents, or 1.7 percent, $55.62 and Morgan Stanley rose 84 cents, or 3.4 percent, to $25.82.

Stocks also got a boost from deal news.

NV Energy surged $4.34, or 23 percent, to $23.62, leading a broad advance in utility companies, after a company owned by Warren Buffett's Berkshire Hathaway agreed to pay a premium of 23 percent to buy the Nevada-based power provider.

Clearwire, a wireless network operator, surged $1.02 cents, or 29 percent, to $4.50 after satellite TV operator Dish Network raised its bid for the company to $6.9 billion.

In economic news, the number of Americans seeking unemployment aid rose last week, a sign layoffs have increased, the Labor Department said Thursday. Claims for unemployment aid rose 10,000 last week to 354,000. The government also lowered its estimate for U.S. economic growth in the first three months of the year to 2.4 percent from 2.5 percent.

Trading has been choppy on Wall Street this week as investors wrestle with the question of whether the Fed will ease its economic stimulus. Minutes released last week from the Fed's last policy meeting showed that some central bank officials favored slowing the purchases as early as next month, if the economy improves enough. The program has been a major factor supporting a rally in stocks by encouraging investors to buy riskier assets.

The Dow Jones industrial average rose 106 points Tuesday, then fell by the same amount Wednesday, leading some market watchers to ask whether the rally that has pushed the Dow and S&P 500 index to record levels may be fizzling out.

While the prospect of a change in Fed strategy is unsettling investors, ultimately, they should welcome the end of the Fed's stimulus because it means that the economy is strong enough to stand on its own two feet, JJ Kinahan, chief derivatives strategist at TD Ameritrade, said.

"It's the vote of confidence," Kinahan said. "It should mean that the overall economy is healthy."

The S&P 500 rose in early trading, climbing as much as 13.6 points, or 0.8 percent, by late afternoon. The index then gave up some of the gains in the last hour of trading to end up just 6.05 points, or 0.4 percent, at 1,654.41.

Phone companies and the makers of consumer staples were the biggest decliners, dropping 1 percent and 0.4 percent respectively. These so-called defensive stocks that pay rich dividends have fallen out of favor this month after investors pushed their prices higher at the start of the year.

The Dow closed up 21.73 points, or 0.1 percent, at 15,324.53 points.

In other trading, the Nasdaq composite index rose 23.78 points, or 0.7 percent, to 3,491.30.

Stock investors have had a good year so far. The Dow is 16.9 percent higher and has set record closing highs on nine days in May. The S&P 500 index is up 16 percent and is on track to rise for a seventh straight month, its longest winning streak since 2009.

In commodities trading, oil rose 48 cents to $93.61 a barrel. Gold rose $20.20, or 1.5 percent, to $1,411.50 an ounce. The dollar fell against the euro and the Japanese yen.

In government bond trading, the yield on the 10-year note was unchanged at 2.12 percent.

Among other stocks making big moves:

”” EMC, a data storage equipment maker, rose $1.27, or 5.4 percent, to $24.93 after the company said it will ramp up its stock buyback program and begin paying a quarterly dividend.

”” Big Lots, a discount store chain, fell $3.45, or 9 percent, to $34.93 after the company reported a 21 percent drop in quarterly income and lowered its full-year revenue forecast.

”” First Solar rose $3.39, or 6.5 percent, to $55.15 after the company's stock was upgraded to "buy" from "neutral" by Goldman Sachs. The investment bank says the solar energy's company's earnings may rise more than Wall Street forecasts and that it might buy other companies or its own stock as it generates more cash.


----------



## bigdog

Source: http://finance.yahoo.com 

A gradual decline in the stock market turned into a rout Friday.

After moving between small losses and gains for most of the day, the stock market plunged in the final hour of trading. The Dow Jones industrial average lost more than 200 points, half of them in the last 15 minutes. It was the worst drop in six weeks.

Some traders said the sudden afternoon swoon came as large investors had to rearrange their holdings to match changes in the widely followed MSCI indexes. Others said rapid-fire automated sell programs kicked in as the decline accelerated, exacerbating the loss.

By late Friday, the market looked like it was "feeding on itself," said Mark Luschini, chief investment strategist at Janney Montgomery Scott. "Why did we go from trading flat to down 200 points at the close? It suggests to me that it was driven by computer models."

The market managed to hold on to gains for the month, extending winning streaks for major indexes. The Standard & Poor's 500 index ended May with its seventh straight monthly gain, its best run since 2009, but the last two weeks have been choppy. The index has declined on five of the last seven trading days and had its first two-week decline since November.

Traders and investors have started to question whether this year's record-setting rally has run its course. Concern is building that the Federal Reserve may slow its $85 billion bond-buying program. The program has supported the stock market as investors move money out of bonds and into riskier assets. The bond purchases also hold down long-term interest rates to encourage borrowing and spending.

The market appeared to be headed for an inconclusive day of trading early Friday after both encouraging and disappointing news on the economy was reported. An unexpected decline in consumer spending in April was offset by news that a measure of U.S. consumer confidence jumped to the highest level in almost six years in May.

The late afternoon slide in stocks caught many market-watchers by surprise. Big investors may have gotten spooked at the end of the day and sold, says Steven Ricchiuto, chief economist at Mizuho Securities.

"In a thin market, all you need is one or two big money managers to reassess their view and the market can go down quickly," Ricchiuto said.

In government bond trading, the yield on the 10-year Treasury note rose to 2.13 percent from 2.12 percent late Thursday. The yield has risen by half a percentage point since the start of the month and is the highest it's been since April 2012. That has troubled some investors since a rapid rise in rates could curtail borrowing and spending.

The yields on Treasury notes are benchmarks for setting interest rates on many kinds of loans to consumers and businesses. The higher yields are already pushing mortgage rates higher. On Thursday the mortgage buyer Freddie Mac reported that average mortgage rates jumped this week to the highest level in a year.

"People are worried a rise in interest rates might derail the recovery," says Joseph Tanious, the global market strategist at J.P. Morgan Funds.

The Dow closed down 208.96 points, or 1.4 percent, to 15,115.57.

It was the biggest loss for the index since April 15, when markets plunged after worries about an economic slowdown in China caused commodity prices to drop sharply.

The Dow managed its sixth straight month of gains.

The Standard & Poor's 500 index fell 23.67, or 1.4 percent, to 1,630.74. The Nasdaq composite declined 35.38 points, or 1 percent, to 3,455.91. 

 *The NYSE DOW closed  	LOWER ▼	-208.96	points or ▼	-1.36%	Friday, 31 May 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,115.57	▼	-208.96	▼	-1.36%	
	Nasdaq___	3,455.91	▼	-35.38	▼	-1.01%	
	S&P_500__	1,630.74	▼	-23.67	▼	-1.43%	
	30_Yr_Bond	3.310	▲	0.02	▲	0.64%	

NYSE Volume	4,514,258,500			 		 	
Nasdaq Volume	1,919,657,880			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,583.09	▼	-73.90	▼	-1.11%	
	DAX_____	8,348.84	▼	-51.36	▼	-0.61%	
	CAC_40__	3,948.59	▼	-47.72	▼	-1.19%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,914.00	▼	-3.10	▼	-0.06%	
	Shanghai_Comp	2,300.59	▼	-17.15	▼	-0.74%	
	Taiwan_Weight	8,254.80	▲	11.51	▲	0.14%	
	Nikkei_225____	13,774.54	▲	185.51	▲	1.37%	
	Hang_Seng____	22,392.16	▼	-92.15	▼	-0.41%	
	Strait_Times___	3,311.37	▼	-24.64	▼	-0.74%	
	NZX_50_Index__	4,511.35	▲	40.84	▲	0.91%	

http://finance.yahoo.com/news/stocks-plummet-trading-end-may-221941231.html

*Stocks plummet in late trading but, end May higher

Stocks plummet in late trading but hold on to monthly gains; Dow slides nearly 209 points*

By Steve Rothwell, AP Markets Writer

A gradual decline in the stock market turned into a rout Friday.

After moving between small losses and gains for most of the day, the stock market plunged in the final hour of trading. The Dow Jones industrial average lost more than 200 points, half of them in the last 15 minutes. It was the worst drop in six weeks.

Some traders said the sudden afternoon swoon came as large investors had to rearrange their holdings to match changes in the widely followed MSCI indexes. Others said rapid-fire automated sell programs kicked in as the decline accelerated, exacerbating the loss.

By late Friday, the market looked like it was "feeding on itself," said Mark Luschini, chief investment strategist at Janney Montgomery Scott. "Why did we go from trading flat to down 200 points at the close? It suggests to me that it was driven by computer models."

The market managed to hold on to gains for the month, extending winning streaks for major indexes. The Standard & Poor's 500 index ended May with its seventh straight monthly gain, its best run since 2009, but the last two weeks have been choppy. The index has declined on five of the last seven trading days and had its first two-week decline since November.

Traders and investors have started to question whether this year's record-setting rally has run its course. Concern is building that the Federal Reserve may slow its $85 billion bond-buying program. The program has supported the stock market as investors move money out of bonds and into riskier assets. The bond purchases also hold down long-term interest rates to encourage borrowing and spending.

The market appeared to be headed for an inconclusive day of trading early Friday after both encouraging and disappointing news on the economy was reported. An unexpected decline in consumer spending in April was offset by news that a measure of U.S. consumer confidence jumped to the highest level in almost six years in May.

The late afternoon slide in stocks caught many market-watchers by surprise. Big investors may have gotten spooked at the end of the day and sold, says Steven Ricchiuto, chief economist at Mizuho Securities.

"In a thin market, all you need is one or two big money managers to reassess their view and the market can go down quickly," Ricchiuto said.

In government bond trading, the yield on the 10-year Treasury note rose to 2.13 percent from 2.12 percent late Thursday. The yield has risen by half a percentage point since the start of the month and is the highest it's been since April 2012. That has troubled some investors since a rapid rise in rates could curtail borrowing and spending.

The yields on Treasury notes are benchmarks for setting interest rates on many kinds of loans to consumers and businesses. The higher yields are already pushing mortgage rates higher. On Thursday the mortgage buyer Freddie Mac reported that average mortgage rates jumped this week to the highest level in a year.

"People are worried a rise in interest rates might derail the recovery," says Joseph Tanious, the global market strategist at J.P. Morgan Funds.

The Dow closed down 208.96 points, or 1.4 percent, to 15,115.57.

It was the biggest loss for the index since April 15, when markets plunged after worries about an economic slowdown in China caused commodity prices to drop sharply.

The Dow managed its sixth straight month of gains.

The Standard & Poor's 500 index fell 23.67, or 1.4 percent, to 1,630.74. The Nasdaq composite declined 35.38 points, or 1 percent, to 3,455.91.

In commodities trading, oil fell $1.64, or 1.8 percent, to $91.97 a barrel, close to its lowest in a month, after OPEC oil ministers said they would keep their output targets steady. Gold fell $19 to $1,393 an ounce, a decline of 1.3 percent.

Among stocks making big moves:

”” Lions Gate Entertainment rose 77 cents, or 2.7 percent, to $28.80. The company reported net income that topped Wall Street's expectations as it benefited from home video sales of the finale to its hit franchise "Twilight."

”” Palo Alto Networks fell $5.87, or 11 percent, to $48.52 after the network security company posted a quarterly loss and predicted lower profit and revenue in the current quarter than analysts were expecting.

”” OmniVision Technologies, a maker of mobile camera sensors, jumped $2.98, or 19 percent, to $18.47. The company reported that its net income doubled in its fourth fiscal quarter as revenue rose sharply.

2851


----------



## bigdog

Source: http://finance.yahoo.com 

For now, bad news is good for the stock market.

Investors judged that the latest weak economic reports will make it more likely that the Federal Reserve will continue to stimulate the economy and support a rally on Wall Street.

On Monday, a measure of U.S. manufacturing fell in May to its lowest level since June 2009 as overseas economies slumped and weak business spending reduced new orders to factories.

That helped convince investors that the Fed will hold off from slowing down its $85 billion bond-buying program. Speculation that the central bank was set to ease that stimulus, a major support for this year's rally in stocks, has caused trading to become volatile in the last two weeks.

The Standard & Poor's 500 index fell in the morning after the manufacturing report was published at 10 a.m. It moved between gains and losses for much of the day, then climbed decisively in the last hour of trading.

The "good news is bad news" interpretation of economic reports may support stocks in the short term, but at the end of the day the economy has to keep improving for stocks to reach new highs, said Alec Young, a global equity strategist at S&P Capital IQ.

"This was a big miss on the ISM report," said Young. "Regardless of what it means for the Fed, ultimately you're buying a stream of earnings and you want to see the economy doing well."

Federal Reserve Bank of Atlanta President Dennis Lockhart also helped allay investors' concerns that the central bank was poised to stop the stimulus. He told Bloomberg Television Monday in an interview that Fed officials remain committed to the stimulus program.

The S&P 500 index closed up 9.68 points at 1,640.42, or 0.6 percent. The Dow Jones industrial average rose 138.46 points to 15,254.03, a gain of 0.9 percent. The Dow got a boost from Merck, which rose 4 percent.

The Nasdaq composite, which is heavily weighted with technology stocks, rose 9.45 points to 3,465.37, an increase of 0.3 percent.

The yield on the 10-year Treasury note ended the day barley changed from late Friday at 2.13 percent. The yield climbed as 2.17 percent in early trading, then went as low as 2.09 percent after the manufacturing report was released.

The yield, which is used to set interest rates on many kinds of loans including home mortgages, has been rising this month. It's now about half a percentage point higher than it was at the start of May.

As Treasury yields fell, rich dividend-paying stocks like electric utilities and phone companies moved higher, reversing early losses. Those sectors, so-called defensive stocks, had been investor favorites in the first quarter but declined in May as bond yields rose.

Despite the advance Monday, signs are emerging that this year's rally may be starting to falter. The Standard & Poor's 500 index closed higher for a seventh straight month in May, but the index also logged its first back-to-back weekly declines since November. On Friday the Dow plunged 208 points, its worst drop in six weeks.

The Dow is still up 16.4 percent this year, and the S&P 500 is 15 percent higher. Stocks have surged as companies reported record earnings and on optimism that the housing market is recovering and hiring is improving. 

 *The NYSE DOW closed  	HIGHER ▲	138.46	points or ▲	0.92%	Monday, 3 June 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,254.03	▲	138.46	▲	0.92%	
	Nasdaq___	3,465.37	▲	9.46	▲	0.27%	
	S&P_500__	1,640.42	▲	9.68	▲	0.59%	
	30_Yr_Bond	3.276	▼	-0.03	▼	-0.97%	

NYSE Volume	4,503,060,500			 		 	
Nasdaq Volume	2,050,716,120			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,525.12	▼	-131.87	▼	-1.98%	
	DAX_____	8,285.80	▼	-63.04	▼	-0.76%	
	CAC_40__	3,920.67	▼	-27.92	▼	-0.71%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,873.70	▼	-40.30	▼	-0.82%	
	Shanghai_Comp	2,299.25	▼	-1.34	▼	-0.06%	
	Taiwan_Weight	8,201.02	▼	-53.78	▼	-0.65%	
	Nikkei_225____	13,261.82	▼	-512.72	▼	-3.72%	
	Hang_Seng____	22,282.19	▼	-109.97	▼	-0.49%	
	Strait_Times___	3,292.42	▼	-18.95	▼	-0.57%	
	NZX_50_Index__	4,511.35	▲	40.84	▲	0.91%	

http://finance.yahoo.com/news/stocks-gain-manufacturing-eases-fed-205918944.html

*Stocks gain after manufacturing eases Fed concern

Markets gain after weak manufacturing report suggests Federal Reserve would maintain stimulus*

By Steve Rothwell, AP Markets Writer

For now, bad news is good for the stock market.

Investors judged that the latest weak economic reports will make it more likely that the Federal Reserve will continue to stimulate the economy and support a rally on Wall Street.

On Monday, a measure of U.S. manufacturing fell in May to its lowest level since June 2009 as overseas economies slumped and weak business spending reduced new orders to factories.

That helped convince investors that the Fed will hold off from slowing down its $85 billion bond-buying program. Speculation that the central bank was set to ease that stimulus, a major support for this year's rally in stocks, has caused trading to become volatile in the last two weeks.

The Standard & Poor's 500 index fell in the morning after the manufacturing report was published at 10 a.m. It moved between gains and losses for much of the day, then climbed decisively in the last hour of trading.

The "good news is bad news" interpretation of economic reports may support stocks in the short term, but at the end of the day the economy has to keep improving for stocks to reach new highs, said Alec Young, a global equity strategist at S&P Capital IQ.

"This was a big miss on the ISM report," said Young. "Regardless of what it means for the Fed, ultimately you're buying a stream of earnings and you want to see the economy doing well."

Federal Reserve Bank of Atlanta President Dennis Lockhart also helped allay investors' concerns that the central bank was poised to stop the stimulus. He told Bloomberg Television Monday in an interview that Fed officials remain committed to the stimulus program.

The S&P 500 index closed up 9.68 points at 1,640.42, or 0.6 percent. The Dow Jones industrial average rose 138.46 points to 15,254.03, a gain of 0.9 percent. The Dow got a boost from Merck, which rose 4 percent.

The Nasdaq composite, which is heavily weighted with technology stocks, rose 9.45 points to 3,465.37, an increase of 0.3 percent.

The yield on the 10-year Treasury note ended the day barley changed from late Friday at 2.13 percent. The yield climbed as 2.17 percent in early trading, then went as low as 2.09 percent after the manufacturing report was released.

The yield, which is used to set interest rates on many kinds of loans including home mortgages, has been rising this month. It's now about half a percentage point higher than it was at the start of May.

As Treasury yields fell, rich dividend-paying stocks like electric utilities and phone companies moved higher, reversing early losses. Those sectors, so-called defensive stocks, had been investor favorites in the first quarter but declined in May as bond yields rose.

Despite the advance Monday, signs are emerging that this year's rally may be starting to falter. The Standard & Poor's 500 index closed higher for a seventh straight month in May, but the index also logged its first back-to-back weekly declines since November. On Friday the Dow plunged 208 points, its worst drop in six weeks.

The Dow is still up 16.4 percent this year, and the S&P 500 is 15 percent higher. Stocks have surged as companies reported record earnings and on optimism that the housing market is recovering and hiring is improving.

In commodities trading, oil climbed $1.48, or 1.6 percent, to $93.45 a barrel. Gold rose $18.90, or 1.4 percent, to $1,411.90 an ounce. The dollar fell against the euro and against the Japanese yen. The U.S. currency dropped back below 100 yen for the first time in three weeks.

Among stocks making moves:

Merck led the Dow higher after news crossed that the drugmaker announced encouraging clinical results for a medicine to treat skin cancer. Merck rose $1.75 to $48.45.

Cracker Barrel Old Country Store rose $5.82, or 6.5 percent, or $95.28 after the restaurant operator said its fiscal third-quarter profit rose 30 percent as higher prices on its menus helped increase its sales.

Centene fell 1.3 percent after the Medicaid coverage provider said a Kentucky court ruled that it cannot prematurely end a contract that has generated steep losses. The stock lost 63 cents to $48.87.


----------



## bigdog

Source: http://finance.yahoo.com 

The Federal Reserve guessing game threw the markets for another loop Tuesday.

Comments from a Fed official raised expectations that the Fed could start easing off its support for the economy soon, sending the stock market sharply lower in the late afternoon. The market recovered in the last hour of trading to end with slight losses.

Snippets from a prepared speech by Esther George, president of the Kansas City branch of the Federal Reserve, were reported in the early afternoon. George pointed to "improving economic conditions" as well as evidence that financial markets were getting dependent on the Fed's support. As a result, she said, "I support slowing the pace of asset purchases as an appropriate next step for monetary policy."

"History suggests that waiting too long to acknowledge the economy's progress and prepare markets for more-normal policy settings carries no less risk than tightening too soon," George said, according to a prepared speech she was set to give in Santa Fe, N.M.

George didn't give the speech because she was sick, but news outlets still reported her comments, and the Kansas City Fed posted the speech on its website.

It was the latest volatile turn in stock trading as investors try to figure out when the Fed will make a move.

While it's well-known that the Fed's next step will be to pare its bond-buying, nobody is sure when that will happen. As a result, traders have been trying to out-guess each other in anticipation of the Fed's decision, seizing on comments from bank officials and minutes from a recent meeting of policymakers to send stock and bond prices swinging sharply over the past two weeks.

The next big data point for investors is the Labor Department's monthly employment survey due out Friday. Oddly enough, a weak report might be encouraging to stock investors since it would imply that the Fed will keep buying bonds to support the economy.

That's the reaction the stock market had on Monday, when traders interpreted an unexpected slowdown in U.S. manufacturing last month as the latest sign that the Fed wasn't close to winding down its stimulus program.

"You gotta believe that people are getting ready for the end of the week," said Jim Paulsen, chief investment strategist at Wells Capital Management in Minneapolis.

The Fed has been buying $85 billion in bonds each month, helping to keep bond prices high and the yields they pay low. In theory, that should lead people to borrow and also shift money out of bonds and into other investments.

Many investors expect long-term interest rates to rise when the Fed scales back its bond-buying. If they climb high enough, more investors may be tempted to buy bonds instead of stocks. Trying to anticipate that outcome, many traders are pre-emptively selling stocks on the slightest signs that the Fed may be closer to slowing its stimulus.

The current yield of 2.15 percent on the benchmark 10-year Treasury note is extremely low by historical standards. It's also nearly identical to the average dividend payment of 2.14 percent for stocks in the S&P 500.

The Standard & Poor's 500 index fell 9.04 points to close at 1,631.38, a drop of 0.6 percent. It had lost as much as 16 points, or 1 percent, around 2:30 p.m.

The Dow Jones industrial average lost 76.49 points to 15,177.54, a drop of 0.5 percent. The Dow had gained for the previous 20 Tuesdays in a row.

The Nasdaq composite fell 20.11 points to 3,445.26, down 0.6 percent. 

It looked like the stock market was headed for a second straight day of gains at the start of trading Tuesday. Encouraging news about home prices and trade helped push the S&P 500 up 0.4 percent in the early going. It turned flat shortly before noon, slid 1 percent an hour later and then spent the rest of the day climbing back.

 *The NYSE DOW closed  	LOWER ▼	-76.49	points or ▼	-0.50%	Tuesday, 4 June 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,177.54	▼	-76.49	▼	-0.50%	
	Nasdaq___	3,445.26	▼	-20.11	▼	-0.58%	
	S&P_500__	1,631.38	▼	-9.04	▼	-0.55%	
	30_Yr_Bond	3.297	▲	0.02	▲	0.64%	

NYSE Volume	4,033,154,500			 		 	
Nasdaq Volume	1,868,012,380			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,558.58	▲	33.46	▲	0.51%	
	DAX_____	8,295.96	▲	10.16	▲	0.12%	
	CAC_40__	3,925.83	▲	5.16	▲	0.13%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,886.70	▲	13.00	▲	0.27%	
	Shanghai_Comp	2,272.42	▼	-26.84	▼	-1.17%	
	Taiwan_Weight	8,191.22	▼	-9.80	▼	-0.12%	
	Nikkei_225____	13,533.76	▲	271.94	▲	2.05%	
	Hang_Seng____	22,285.52	▲	3.33	▲	0.01%	
	Strait_Times___	3,287.83	▼	-3.25	▼	-0.10%	
	NZX_50_Index__	4,473.78	▼	-37.57	▼	-0.83%	

http://finance.yahoo.com/news/stocks-head-lower-fed-stimulus-184420703.html

*Stocks head lower on Fed stimulus worries

Stock turn lower Wall Street as traders expect early wind-down of Fed stimulus*

By Matthew Craft, AP Business Writer

The Federal Reserve guessing game threw the markets for another loop Tuesday.

Comments from a Fed official raised expectations that the Fed could start easing off its support for the economy soon, sending the stock market sharply lower in the late afternoon. The market recovered in the last hour of trading to end with slight losses.

Snippets from a prepared speech by Esther George, president of the Kansas City branch of the Federal Reserve, were reported in the early afternoon. George pointed to "improving economic conditions" as well as evidence that financial markets were getting dependent on the Fed's support. As a result, she said, "I support slowing the pace of asset purchases as an appropriate next step for monetary policy."

"History suggests that waiting too long to acknowledge the economy's progress and prepare markets for more-normal policy settings carries no less risk than tightening too soon," George said, according to a prepared speech she was set to give in Santa Fe, N.M.

George didn't give the speech because she was sick, but news outlets still reported her comments, and the Kansas City Fed posted the speech on its website.

It was the latest volatile turn in stock trading as investors try to figure out when the Fed will make a move.

While it's well-known that the Fed's next step will be to pare its bond-buying, nobody is sure when that will happen. As a result, traders have been trying to out-guess each other in anticipation of the Fed's decision, seizing on comments from bank officials and minutes from a recent meeting of policymakers to send stock and bond prices swinging sharply over the past two weeks.

The next big data point for investors is the Labor Department's monthly employment survey due out Friday. Oddly enough, a weak report might be encouraging to stock investors since it would imply that the Fed will keep buying bonds to support the economy.

That's the reaction the stock market had on Monday, when traders interpreted an unexpected slowdown in U.S. manufacturing last month as the latest sign that the Fed wasn't close to winding down its stimulus program.

"You gotta believe that people are getting ready for the end of the week," said Jim Paulsen, chief investment strategist at Wells Capital Management in Minneapolis.

The Fed has been buying $85 billion in bonds each month, helping to keep bond prices high and the yields they pay low. In theory, that should lead people to borrow and also shift money out of bonds and into other investments.

Many investors expect long-term interest rates to rise when the Fed scales back its bond-buying. If they climb high enough, more investors may be tempted to buy bonds instead of stocks. Trying to anticipate that outcome, many traders are pre-emptively selling stocks on the slightest signs that the Fed may be closer to slowing its stimulus.

The current yield of 2.15 percent on the benchmark 10-year Treasury note is extremely low by historical standards. It's also nearly identical to the average dividend payment of 2.14 percent for stocks in the S&P 500.

The Standard & Poor's 500 index fell 9.04 points to close at 1,631.38, a drop of 0.6 percent. It had lost as much as 16 points, or 1 percent, around 2:30 p.m.

The Dow Jones industrial average lost 76.49 points to 15,177.54, a drop of 0.5 percent. The Dow had gained for the previous 20 Tuesdays in a row.

The Nasdaq composite fell 20.11 points to 3,445.26, down 0.6 percent.

It looked like the stock market was headed for a second straight day of gains at the start of trading Tuesday. Encouraging news about home prices and trade helped push the S&P 500 up 0.4 percent in the early going. It turned flat shortly before noon, slid 1 percent an hour later and then spent the rest of the day climbing back.

General Motors gained 1.6 percent on news that the company will be added to the S&P 500 index on Thursday, replacing H.J. Heinz Co. The ketchup maker is being acquired by Warren Buffett's Berkshire Hathaway and the private equity firm 3G Capital. GM rose 54 cents to $34.96.

The price of crude oil slipped 14 cents to $93.31 a barrel and gold fell $14.70 to $1,397.20 an ounce.

Among other companies in the news:

”” Dollar General sank 9 percent, the biggest drop in the S&P 500. The discount-store chain cut its earnings and revenue forecast for the year ahead because it expects sales to slow. Dollar General's stock dropped $4.91 to $48.64.

”” SAIC slid 7 cents to $14.77. The security and communications technology company posted a 31 percent drop in quarterly earnings late Monday, as government spending cuts crimped SAIC's revenue.

”” Salesforce.com announced plans buy the marketing software company ExactTarget for $2.3 billion. Salesforce fell 8 percent, or $3.24, to $37.80. ExactTarget jumped 52 percent, or $11.59, to $33.69.


----------



## bigdog

Source: http://finance.yahoo.com 

A series of weak economic reports sent the stock market plunging to its lowest level in a month on Wednesday.

Companies like miners, banks and chemical makers, whose fortunes are most closely tied to the prospects for growth, led the market lower. That's a sign investors are becoming less confident in the U.S. economy.

The troubling data included weak hiring at private companies, a plunge in mortgage applications and sluggish orders to U.S. factories.

The Dow Jones industrial average fell 217 points and finished at 14,960, a drop of 1.4 percent. It's the first close below 15,000 since May 6 and the biggest decline in seven weeks. Intel fell the most in the Dow.

Stocks started lower and declined steadily throughout the day. After rising every month this year and climbing to record levels this spring, some investors said a significant pullback was overdue.

"The rally is tired and people are taking some profits." said Brad Reynolds, at investment advisor LJRP.

Investors were also unnerved by a sharp 11.5 percent drop in mortgage applications last week. That's a disappointment because the rebound in housing has been one of the key factors supporting the stock market's record-breaking rally this year.

Housing stocks slumped in response. D.R. Horton dropped 27 cents, or 1.2 percent, to $22.65. Beazer Homes fell 60 cents to $18.78, a decline of 3.1 percent.

The fall in applications came as mortgage rates rose the highest point since April 2012. The increase is being driven by higher yields in the bond market. The yield on the 10-year Treasury note climbed as high as 2.2 percent last week, the highest in more than two years.

There was also disappointing news on hiring, another one of the key supports for the market's rally this year.

A measure of employment in the service sector fell to the lowest level since last July. That's a troubling sign because service companies, a broad category that includes entertainment, transportation and health care, have been the main source of job gains in the past several months.

Earlier Wednesday payroll provider ADP said U.S. businesses added just 135,000 jobs in May, the second straight month of weak gains. The increases are much lower than those reported over the winter, which averaged more than 200,000 a month from November through February.

The stock market's recent bout of volatility began May 22 as traders parsed comments from Federal Reserve Chairman Ben Bernanke and minutes from the last meeting of the Fed's policy committee for clues about when the bank may slow its stimulus program.

Since then investors have become increasingly sensitive to economic reports as they try to anticipate when the Fed will pull back on its $85 billion in monthly bond purchases. That program, which is intended to keep interest rates low and encourage lending, has supported markets this year. On some days stocks have rallied after poor economic reports led traders to anticipate that the Fed would keep the stimulus going.

On Wednesday, though, the stock market's decline was unambiguous.

The Standard & Poor's 500 index ended down 22.48 points, or 1.4 percent, at 1,608.90. The index is 3.6 percent below its record close of 1,669 reached May 21. It's still up 12.8 percent this year. 

In other trading, the Nasdaq composite dropped 43.78 points, or 1.3 percent, to 3,401.48. The index closed at its lowest level in a month. 

 *The NYSE DOW closed  	LOWER ▼	-216.95	points or ▼	-1.43%	Wednesday, 5 June 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,960.59	▼	-216.95	▼	-1.43%	
	Nasdaq___	3,401.48	▼	-43.78	▼	-1.27%	
	S&P_500__	1,608.90	▼	-22.48	▼	-1.38%	
	30_Yr_Bond	3.260	▼	-0.04	▼	-1.12%	

NYSE Volume	4,117,512,250			 		 	
Nasdaq Volume	1,811,416,120			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,419.31	▼	-139.27	▼	-2.12%	
	DAX_____	8,196.18	▼	-99.78	▼	-1.20%	
	CAC_40__	3,852.44	▼	-73.39	▼	-1.87%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,825.20	▼	-61.50	▼	-1.26%	
	Shanghai_Comp	2,270.93	▼	-1.49	▼	-0.07%	
	Taiwan_Weight	8,181.91	▼	-9.31	▼	-0.11%	
	Nikkei_225____	13,014.87	▼	-518.89	▼	-3.83%	
	Hang_Seng____	22,069.24	▼	-216.28	▼	-0.97%	
	Strait_Times___	3,254.94	▼	-36.41	▼	-1.11%	
	NZX_50_Index__	4,453.59	▼	-20.19	▼	-0.45%	

http://finance.yahoo.com/news/weak-signals-economy-send-stocks-212040993.html

*Weak signals on the economy send stocks plunging

Troubling reports on hiring, housing push the stock market down to its lowest close in a month*

By Steve Rothwell, AP Markets

A series of weak economic reports sent the stock market plunging to its lowest level in a month on Wednesday.

Companies like miners, banks and chemical makers, whose fortunes are most closely tied to the prospects for growth, led the market lower. That's a sign investors are becoming less confident in the U.S. economy.

The troubling data included weak hiring at private companies, a plunge in mortgage applications and sluggish orders to U.S. factories.

The Dow Jones industrial average fell 217 points and finished at 14,960, a drop of 1.4 percent. It's the first close below 15,000 since May 6 and the biggest decline in seven weeks. Intel fell the most in the Dow.

Stocks started lower and declined steadily throughout the day. After rising every month this year and climbing to record levels this spring, some investors said a significant pullback was overdue.

"The rally is tired and people are taking some profits." said Brad Reynolds, at investment advisor LJRP.

Investors were also unnerved by a sharp 11.5 percent drop in mortgage applications last week. That's a disappointment because the rebound in housing has been one of the key factors supporting the stock market's record-breaking rally this year.

Housing stocks slumped in response. D.R. Horton dropped 27 cents, or 1.2 percent, to $22.65. Beazer Homes fell 60 cents to $18.78, a decline of 3.1 percent.

The fall in applications came as mortgage rates rose the highest point since April 2012. The increase is being driven by higher yields in the bond market. The yield on the 10-year Treasury note climbed as high as 2.2 percent last week, the highest in more than two years.

There was also disappointing news on hiring, another one of the key supports for the market's rally this year.

A measure of employment in the service sector fell to the lowest level since last July. That's a troubling sign because service companies, a broad category that includes entertainment, transportation and health care, have been the main source of job gains in the past several months.

Earlier Wednesday payroll provider ADP said U.S. businesses added just 135,000 jobs in May, the second straight month of weak gains. The increases are much lower than those reported over the winter, which averaged more than 200,000 a month from November through February.

The stock market's recent bout of volatility began May 22 as traders parsed comments from Federal Reserve Chairman Ben Bernanke and minutes from the last meeting of the Fed's policy committee for clues about when the bank may slow its stimulus program.

Since then investors have become increasingly sensitive to economic reports as they try to anticipate when the Fed will pull back on its $85 billion in monthly bond purchases. That program, which is intended to keep interest rates low and encourage lending, has supported markets this year. On some days stocks have rallied after poor economic reports led traders to anticipate that the Fed would keep the stimulus going.

On Wednesday, though, the stock market's decline was unambiguous.

The Standard & Poor's 500 index ended down 22.48 points, or 1.4 percent, at 1,608.90. The index is 3.6 percent below its record close of 1,669 reached May 21. It's still up 12.8 percent this year.

Intel fell the most in the Dow, dropping 66 cents, or 2.6 percent, to $24.70. Aluminum maker Alcoa was close behind with a decline of 2.2 percent, or 18 cents, to $8.20. All 30 members of the index dropped.

The Dow has fallen for two days in a row. The index has gone without a three-day losing streak since December 26, a record 110 trading days, according to Schaeffer's Investment Research.

As traders sold stocks, the moved money into the haven of U.S. government bonds. The yield on the 10-year Treasury note fell to 2.09 percent from 2.15 percent late Tuesday.

U.S. stocks joined a global rout Wednesday that began overnight in Asia. Japan's benchmark Nikkei 225 index plunged after investors were disappointed at the lack of detail in a keynote speech on the economy from Japanese Prime Minister Shinzo Abe. The Nikkei fell 3.8 percent to 13,014.

European stock markets also fell. Indexes fell 1.9 percent in France, 1.2 percent in Germany and 2.1 percent in Britain.

"Everywhere is red," said Mark Schwartz, chief market strategist, at Lightspeed Financial. "It's just a sea of red and we're following in line."

The Nikkei has fallen 17 percent from its peak in mid-May, after soaring at the start of the year thanks to aggressive stimulus measures from the Bank of Japan. Some market watchers drew a parallel with the U.S., where central bank stimulus has also been pushing stock prices higher.

"I'm very concerned about what's going on in Japan," said Doug Cote, chief market strategist at ING. "Some people might be scratching their head and saying that it could happen to us."

Other world indexes have also had significant declines since May 22, when the worries over the Fed easing its stimulus escalated. The FT-SE 100 in Britain is down 6.2 percent, Hong Kong's Hang Seng index is down 5.1 percent and Brazil's Bovespa is down 6.4 percent.

In commodities trading, the price of crude oil rose 43 cents, or 0.5 percent, to $93.74 a barrel. Gold edged up $1.30 to settle at $1,398.50 an ounce. The dollar fell against the euro and the Japanese yen.

In other trading, the Nasdaq composite dropped 43.78 points, or 1.3 percent, to 3,401.48. The index closed at its lowest level in a month.


----------



## bigdog

Source: http://finance.yahoo.com 

A bouncy ride on Wall Street ended with a modest gain Thursday.

The stock market broke a two-day losing streak as traders reacted to news from Europe and looked ahead to the government's monthly employment report.

The Dow Jones industrial average ended 80 points higher. The average of 30 big companies dropped as much as 116 points in the early afternoon after the European Central Bank's president, Mario Draghi, signaled that the bank wouldn't take more steps to shore up Europe's ailing economies.

Retail stocks mostly rose after several store chains reported higher sales for May. Costco gained $1.92, or 1.8 percent, to $111.09.

Financial markets have turned volatile over the past two weeks as traders parse comments from Federal Reserve officials for hints about when the bank will cut back on its support for the economy. A batch of weak manufacturing reports has also heightened concerns about the economy's strength.

One concern for some investors is the recent rise in long-term interest rates. Those rates will likely climb further when the economy improves and the Fed scales down its monthly purchases of $85 billion in bonds. Rates remain near historically low levels.

"As interest rates come back to more normal levels, it's probably going to cause volatility," said Tim Speiss, chairman of the personal wealth advisers practice at EisnerAmper. "But that should be viewed as healthy."

The Dow ended at 15,040.62, a gain of 0.5 percent. The Standard & Poor's 500 index rose 13.66 points to 1,622.56, a gain of 0.9 percent. The Nasdaq composite index rose 22.58 points to 3,424.05, a gain of 0.7 percent.

In Europe, government bond yields jumped and stock indexes fell after the European Bank chief said the bank wouldn't take more action to prop up the region's economy. 

 *The NYSE DOW closed  	HIGHER ▲	80.03	points or ▲	0.53%	Thursday, 6 June 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,040.62	▲	80.03	▲	0.53%	
	Nasdaq___	3,424.05	▲	22.58	▲	0.66%	
	S&P_500__	1,622.56	▲	13.66	▲	0.85%	
	30_Yr_Bond	3.230	▼	-0.03	▼	-0.86%	

NYSE Volume	4,064,813,000			 		 	
Nasdaq Volume	1,804,413,880			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,336.11	▼	-83.20	▼	-1.30%	
	DAX_____	8,098.81	▼	-97.37	▼	-1.19%	
	CAC_40__	3,814.28	▼	-38.16	▼	-0.99%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,771.80	▼	-53.40	▼	-1.11%	
	Shanghai_Comp	2,270.93	▼	-1.49	▼	-0.07%	
	Taiwan_Weight	8,096.14	▼	-85.77	▼	-1.05%	
	Nikkei_225____	12,904.02	▼	-110.85	▼	-0.85%	
	Hang_Seng____	21,838.43	▼	-230.81	▼	-1.05%	
	Strait_Times___	3,193.51	▼	-49.92	▼	-1.54%	
	NZX_50_Index__	4,455.33	▲	1.75	▲	0.04%	

http://finance.yahoo.com/news/stock-market-ends-choppy-day-201910427.html

*Stock market ends choppy day with modest gains

Stock market ends higher after choppy day; Dow regains 15,000, averts three-day losing streak*

By Matthew Craft, AP Business Writer

A bouncy ride on Wall Street ended with a modest gain Thursday.

The stock market broke a two-day losing streak as traders reacted to news from Europe and looked ahead to the government's monthly employment report.

The Dow Jones industrial average ended 80 points higher. The average of 30 big companies dropped as much as 116 points in the early afternoon after the European Central Bank's president, Mario Draghi, signaled that the bank wouldn't take more steps to shore up Europe's ailing economies.

Retail stocks mostly rose after several store chains reported higher sales for May. Costco gained $1.92, or 1.8 percent, to $111.09.

Financial markets have turned volatile over the past two weeks as traders parse comments from Federal Reserve officials for hints about when the bank will cut back on its support for the economy. A batch of weak manufacturing reports has also heightened concerns about the economy's strength.

One concern for some investors is the recent rise in long-term interest rates. Those rates will likely climb further when the economy improves and the Fed scales down its monthly purchases of $85 billion in bonds. Rates remain near historically low levels.

"As interest rates come back to more normal levels, it's probably going to cause volatility," said Tim Speiss, chairman of the personal wealth advisers practice at EisnerAmper. "But that should be viewed as healthy."

The Dow ended at 15,040.62, a gain of 0.5 percent. The Standard & Poor's 500 index rose 13.66 points to 1,622.56, a gain of 0.9 percent. The Nasdaq composite index rose 22.58 points to 3,424.05, a gain of 0.7 percent.

In Europe, government bond yields jumped and stock indexes fell after the European Bank chief said the bank wouldn't take more action to prop up the region's economy.

The yield on Spain's 10-year government bond spiked to 4.65 percent from 4.41 percent as demand for the bonds dropped. Stock markets fell 2.6 percent in Italy, 1.2 percent in Germany and 1 percent in France.

Gold jumped $17.30 to $1,415.80 an ounce. The price of crude oil crossed above $95 per barrel following a report from the Energy Department that the country's oil supply shrank last week. Oil rose $1.02 to $94.76 a barrel.

In the market for U.S. government bonds, the yield on the 10-year Treasury note edged down to 2.07 percent from 2.09 percent late Wednesday.

The yield, which acts as a benchmark for mortgages and other loans, has climbed steadily since hitting a recent low of 1.63 percent May 3. That day the government reported a surge in hiring over the previous three months. Expectations that the Fed will ease back on its bond-buying sometime soon are prompting traders to sell bonds, pushing yields higher.

Early Thursday, the Labor Department said that the number of Americans applying for unemployment benefits fell by 11,000 last week to 346,000, a level that's consistent with steady job growth.

Speiss called the drop in claims, which tend to fluctuate sharply week to week, a "good sign." Speiss said it's far from certain that the government's monthly employment survey will give investors anything to cheer on Friday. Economists predict that employers added 170,000 jobs last month. A report that's much better or worse than expected can drive trading for weeks afterward.

Last month, for instance, news that the unemployment rate dropped to 7.5 percent, a four-year low, pushed the S&P 500 above 1,600 for the first time.

David Joy, chief market strategist at Ameriprise Financial, said Friday's report is especially important for investors because the Fed has made it clear that the job market will determine whether the bank pulls back on or extends its bond-buying effort.

"We're in a battleground between what the Fed is going to do and what the economy is going to do, and there's no clear direction on either," Joy said.

Among other stocks making big moves:

”” Chatter that PepsiCo may be interested in buying SodaStream sent the Isreali company's stock up 3 percent, even though PepsiCo called the speculation "totally untrue." SodaStream's stock gained $1.89 to $71.24.

”” VeriFone Systems plunged 21 percent. After the market closed Wednesday, the provider of terminals for credit-card payments reported quarterly results that fell short of financial analysts' estimates. The lower results were a result of a charge for legal fees and sliding sales. VeriFone also forecast earnings of 20 cents in the current quarter, half of what analysts had forecast. The company's stock sank $4.58 to $17.37.


----------



## bigdog

Source: http://finance.yahoo.com 

Steady growth in hiring last month sent the stock market sharply higher Friday.

The 175,000 jobs added by U.S. employers last month was just what investors wanted. The number suggested that the economy is growing, but not so strongly that the Federal Reserve will pull back from its economic stimulus soon.

"This was, in our view, very much a 'Goldilocks' number," said Phil Orlando, chief equity strategist at Federated Investors. "There is zero chance that the Federal Reserve is going to start tapering monetary policy," at its next two-day policy meeting starting June 18

The central bank is buying $85 billion of bonds every month to keep interest rates low and encourage borrowing, spending and investing in riskier assets like stocks.

Stocks rose strongly Friday morning, then eased slightly in the early afternoon. The gains accelerated in the final hour of trading.

The Dow Jones Industrial average had its best day in five months. It rose 207 points, or 1.4 percent, to close at 15,248.12. That gain was surpassed this year only by its 2.4 percent rise Jan. 2.

Boeing led the index higher with a gain of $2.73, or 2.7 percent, to $102.49. Industrial conglomerate 3M gained $2.44, or 2.2 percent, to $111.11. Twenty-six of the 30 stocks in the Dow rose.

The Standard & Poor's 500 index rose 20.82 points, or 1.3 percent, to 1,643.38. The Nasdaq composite rose 45.16 points, or 1.3 percent, to 3,469.22.

Nine of the 10 industry groups in the S&P 500 index rose, led by consumer discretionary stocks, which stand to benefit more than other sectors if the economy picks up. Industrial companies and banks also posted strong gains.

The only S&P 500 industry group that fell was telecommunications, a so-called defensive sector that investors favor when they are seeking safety and high dividends.

Financial markets have turned volatile over the past two weeks as traders parse comments from Fed officials for hints about when the central bank will cut back on its support. When it happens, the wind-down will help nudge interest rates higher.

For investors who expect the Fed to stay the course, "these types of slow economic growth reports speak to that," said Kevin Mahn, chief investment officer at Hennion & Walsh Asset Management. "It keeps interest rates at record lows and it keeps the equity markets humming."

The S&P 500 index is down 1.6 percent since reaching a record high on May 21. The next day, Fed Chairman Ben Bernanke said the Fed could ease up on its economic stimulus program in one of its next few meetings.

In government bond trading, the yield on the 10-year Treasury note rose to 2.18 percent from 2.08 percent late Thursday as investors moved out of safer assets.

 *The NYSE DOW closed  	HIGHER ▲	207.50	points or ▲	1.38%	Friday, 7 June 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,248.12	▲	207.50	▲	1.38%	
	Nasdaq___	3,469.21	▲	45.16	▲	1.32%	
	S&P_500__	1,643.38	▲	20.82	▲	1.28%	
	30_Yr_Bond	3.320	▲	0.09	▲	2.85%	

NYSE Volume	3,780,153,250			 		 	
Nasdaq Volume	1,650,576,880			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,411.99	▲	75.88	▲	1.20%	
	DAX_____	8,254.68	▲	155.87	▲	1.92%	
	CAC_40__	3,872.59	▲	58.31	▲	1.53%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,729.30	▼	-42.50	▼	-0.89%	
	Shanghai_Comp	2,210.90	▼	-31.21	▼	-1.39%	
	Taiwan_Weight	8,095.20	▼	-0.94	▼	-0.01%	
	Nikkei_225____	12,877.53	▼	-26.49	▼	-0.21%	
	Hang_Seng____	21,575.26	▼	-263.17	▼	-1.21%	
	Strait_Times___	3,184.72	▼	-8.79	▼	-0.28%	
	NZX_50_Index__	4,439.86	▼	-15.48	▼	-0.35%	

http://news.yahoo.com/stocks-jump-us-jobs-report-beats-forecasts-160221659.html

*Stocks jump after US jobs report beats forecasts*

By STEVE ROTHWELL

Steady growth in hiring last month sent the stock market sharply higher Friday.

The 175,000 jobs added by U.S. employers last month was just what investors wanted. The number suggested that the economy is growing, but not so strongly that the Federal Reserve will pull back from its economic stimulus soon.

"This was, in our view, very much a 'Goldilocks' number," said Phil Orlando, chief equity strategist at Federated Investors. "There is zero chance that the Federal Reserve is going to start tapering monetary policy," at its next two-day policy meeting starting June 18

The central bank is buying $85 billion of bonds every month to keep interest rates low and encourage borrowing, spending and investing in riskier assets like stocks.

Stocks rose strongly Friday morning, then eased slightly in the early afternoon. The gains accelerated in the final hour of trading.

The Dow Jones Industrial average had its best day in five months. It rose 207 points, or 1.4 percent, to close at 15,248.12. That gain was surpassed this year only by its 2.4 percent rise Jan. 2.

Boeing led the index higher with a gain of $2.73, or 2.7 percent, to $102.49. Industrial conglomerate 3M gained $2.44, or 2.2 percent, to $111.11. Twenty-six of the 30 stocks in the Dow rose.

The Standard & Poor's 500 index rose 20.82 points, or 1.3 percent, to 1,643.38. The Nasdaq composite rose 45.16 points, or 1.3 percent, to 3,469.22.

Nine of the 10 industry groups in the S&P 500 index rose, led by consumer discretionary stocks, which stand to benefit more than other sectors if the economy picks up. Industrial companies and banks also posted strong gains.

The only S&P 500 industry group that fell was telecommunications, a so-called defensive sector that investors favor when they are seeking safety and high dividends.

Financial markets have turned volatile over the past two weeks as traders parse comments from Fed officials for hints about when the central bank will cut back on its support. When it happens, the wind-down will help nudge interest rates higher.

For investors who expect the Fed to stay the course, "these types of slow economic growth reports speak to that," said Kevin Mahn, chief investment officer at Hennion & Walsh Asset Management. "It keeps interest rates at record lows and it keeps the equity markets humming."

The S&P 500 index is down 1.6 percent since reaching a record high on May 21. The next day, Fed Chairman Ben Bernanke said the Fed could ease up on its economic stimulus program in one of its next few meetings.

In government bond trading, the yield on the 10-year Treasury note rose to 2.18 percent from 2.08 percent late Thursday as investors moved out of safer assets.

The Labor Department's monthly survey of employment is one of the most important gauges of the U.S. economy and receives close scrutiny from investors. It can frequently cause big moves in financial markets, especially if the report shows that employment is stronger or weaker than economists were expecting.

On May 3, the government reported not only a strong pickup in hiring in April but it also revised sharply upward its estimates for job growth in February and March. That sent the Dow Jones industrial average past 15,000 for the first time, while the S&P 500 index broke through 1,600.

In the weeks following that report, bond yields rose from 1.63 percent as high as 2.20 percent May 31. That meant investors thought the economy was strengthening, dampening the appeal of low-risk assets like bonds. It also meant investors believed the Fed would act sooner than previously thought to curtail its bond-buying program.

Investors are still keeping an eye on interest rates because of the impact that they have on the economy. For example, higher borrowing costs will push up mortgage rates and curb demand for housing. The recovery in the housing market has also boosted stock prices this year.

"Interest rates have really gone up in quite dramatically from a month ago," said Paul Hogan, the manager of the FAM Equity-Income Fund. "If they continue to rise, the market will be a little more bit choppy."

The improving economy has also helped support the dollar this year. The U.S. currency rose against the euro and the yen Friday.

The price of gold fell $32.80, or 2.3 percent, to $1,383 an ounce. Gold has fallen sharply this year as a rising stock market and a strengthening dollar have diminished its appeal as an alternative investment.

In other commodities trading, the price of oil rose $1.27, or 1.3 percent, to $96.03 a barrel.

Among other stocks making big moves:

”” Gap rose $1.11, or 2.7 percent, to $42.09. The San Francisco-based clothing store chain reported late Thursday that its sales jumped 7 percent in May, more than expected, helped by strong results at its namesake Gap and Old Navy stores.

”” TiVo plunged $2.61, or 19 percent, to $11.10 after the company settled patent disputes with several technology companies including Cisco and Motorola Mobility but received far less than what most investors inspected. TiVo has posted annual losses in nearly all of the past 10 years.

”” Thor Industries rose $4.92, or 11.9 percent, to $46.16 after the company reported a 6 percent increase in income. The results beat market expectations on stronger sales of RVs and a lower tax rate.

3395


----------



## bigdog

Source: http://finance.yahoo.com 

The Standard & Poor's ratings agency said Monday it's getting more optimistic about the U.S. economy. But investors just yawned.

Stocks budged higher when trading opened, shortly after the S&P agency raised its outlook for the U.S. government's debt rating and credited "the strengths of the economy." But the gains proved both modest and fickle, and the market spent most of the day flitting between small gains and losses.

At day's end, the Dow Jones industrial average and the S&P 500 were lower, but just barely. The Nasdaq composite was slightly higher. It was a marked change from Friday, when the Dow jumped 207 points after a jobs report that investors viewed as positive.

Trading volume was light, and there were no major economic reports or company announcements. The 10 industry sectors in the S&P were split down the middle, with half rising and half falling, but none moved dramatically. The best performer, telecommunications, was up 0.8 percent. The worst, consumer discretionary, was down 0.3 percent.

Booz Allen Hamilton slid after a company employee said he had leaked information about secret government surveillance programs. The consulting company's stock dropped 46 cents, or 2.6 percent, to $17.54.

The S&P's statement harkened back to August 2011, when the agency slashed its rating of the U.S. government's debt because Congress was in a heated battle over whether to raise government spending limits. The downgrade, an embarrassment to the U.S., also sent the stock market into a tailspin. The Dow plunged 634 points, or more than 5 percent, on the first trading day after the downgrade. The market had triple-digit swings throughout that fall.

On Monday, S&P upgraded its outlook on the U.S. debt rating to "Stable" from "Negative." That doesn't restore the U.S. government's top-shelf credit rating, but it does mean that S&P is unlikely to cut the rating again in the near future.

S&P cited the Federal Reserve's willingness to keep interest rates low, which is meant to spur borrowing and spending, and its bond purchasing program, which is meant to encourage investors to buy stocks and other riskier assets. S&P also noted approvingly that Congress had agreed to raise some taxes this year, notably the Social Security tax that most workers pay, which has helped shrink the government's budget deficit.

The reaction from investors was a far cry from two summers ago. Some doubted the S&P's assessment that the economy is improving, and said the Fed is only artificially propping it up.

The Dow closed down 9.53 points at 15,238.59, a loss of 0.06 percent. The S&P 500 index was essentially flat, falling 0.57 point to 1,642.81, or 0.03 percent. The Nasdaq composite edged up 4.55 points to 3,473.77, a gain of 0.1 percent. 

 *The NYSE DOW closed  	LOWER ▼	-9.53	points or ▼	-0.06%	Monday, 10 June 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,238.59	▼	-9.53	▼	-0.06%	
	Nasdaq___	3,473.77	▲	4.55	▲	0.13%	
	S&P_500__	1,642.81	▼	-0.57	▼	-0.03%	
	30_Yr_Bond	3.370	▲	0.05	▲	1.38%	

NYSE Volume	3,295,251,000			 		 	
Nasdaq Volume	1,526,841,250			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,400.45	▲	64.34	▲	1.02%	
	DAX_____	8,307.69	▲	53.01	▲	0.64%	
	CAC_40__	3,864.36	▼	-8.23	▼	-0.21%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,729.30	▼	-42.50	▼	-0.89%	
	Shanghai_Comp	2,210.90	▼	-31.21	▼	-1.39%	
	Taiwan_Weight	8,160.55	▲	65.35	▲	0.81%	
	Nikkei_225____	13,514.20	▲	636.67	▲	4.94%	
	Hang_Seng____	21,615.09	▲	39.83	▲	0.18%	
	Strait_Times___	3,201.15	▲	16.43	▲	0.52%	
	NZX_50_Index__	4,473.38	▲	33.53	▲	0.76%	

http://finance.yahoo.com/news/p-upgrades-us-outlook-investors-143301545.html

*S&P upgrades US outlook, but investors yawn

S&P upgrades US debt outlook, but stock market yawns; ratings agency says economy is improving*

By Christina Rexrode, AP Business Writer

 The Standard & Poor's ratings agency said Monday it's getting more optimistic about the U.S. economy. But investors just yawned.

Stocks budged higher when trading opened, shortly after the S&P agency raised its outlook for the U.S. government's debt rating and credited "the strengths of the economy." But the gains proved both modest and fickle, and the market spent most of the day flitting between small gains and losses.

At day's end, the Dow Jones industrial average and the S&P 500 were lower, but just barely. The Nasdaq composite was slightly higher. It was a marked change from Friday, when the Dow jumped 207 points after a jobs report that investors viewed as positive.

Trading volume was light, and there were no major economic reports or company announcements. The 10 industry sectors in the S&P were split down the middle, with half rising and half falling, but none moved dramatically. The best performer, telecommunications, was up 0.8 percent. The worst, consumer discretionary, was down 0.3 percent.

Booz Allen Hamilton slid after a company employee said he had leaked information about secret government surveillance programs. The consulting company's stock dropped 46 cents, or 2.6 percent, to $17.54.

The S&P's statement harkened back to August 2011, when the agency slashed its rating of the U.S. government's debt because Congress was in a heated battle over whether to raise government spending limits. The downgrade, an embarrassment to the U.S., also sent the stock market into a tailspin. The Dow plunged 634 points, or more than 5 percent, on the first trading day after the downgrade. The market had triple-digit swings throughout that fall.

On Monday, S&P upgraded its outlook on the U.S. debt rating to "Stable" from "Negative." That doesn't restore the U.S. government's top-shelf credit rating, but it does mean that S&P is unlikely to cut the rating again in the near future.

S&P cited the Federal Reserve's willingness to keep interest rates low, which is meant to spur borrowing and spending, and its bond purchasing program, which is meant to encourage investors to buy stocks and other riskier assets. S&P also noted approvingly that Congress had agreed to raise some taxes this year, notably the Social Security tax that most workers pay, which has helped shrink the government's budget deficit.

The reaction from investors was a far cry from two summers ago. Some doubted the S&P's assessment that the economy is improving, and said the Fed is only artificially propping it up.

Ed Butowsky, managing partner of Chapwood Investments in Dallas, said that the unemployment rate is still too high, economic growth too weak and the government's budget deficit too heavy for the economy to be considered healthy.

"It defies economic logic as to why the S&P did this," Butowsky said. "...We continue to print money, we continue to spend money. What are they looking at?"

Others agreed with the S&P's assessment, but said it was old news.

Jerry Webman, chief economist at OppenheimerFunds in New York, thinks the economy is strong enough to drive sustainable earnings growth, but not so strong that the Fed might pull the plug on its stimulus measures ”” a sentiment that seemed to drive Friday's rally. Still, he thinks investors shouldn't draw too many conclusions from a single S&P report.

"On the question of what's moving the U.S. stock market," Webman said, "the answer is 'Not much.'"

The Dow closed down 9.53 points at 15,238.59, a loss of 0.06 percent. The S&P 500 index was essentially flat, falling 0.57 point to 1,642.81, or 0.03 percent. The Nasdaq composite edged up 4.55 points to 3,473.77, a gain of 0.1 percent.

Outside the U.S., Japan's Nikkei stock index soared 4.9 percent after a report that the world's No. 3 economy is growing faster than expected. But there were also reminders that the global economy is far from cured. In the Netherlands, the central bank warned that the government needs to cut spending. Courts in Germany are poised to consider whether Germany is legally allowed to bail out struggling European countries, as it has been doing.

The yield on the 10-year Treasury note edged up to 2.21 percent from 2.18 percent late Friday, a sign that investors were more willing to put their money in the stock market. In commodities trading, the price of crude oil fell 26 cents to $95.77 per barrel, and gold edged up $3 to $1,386 an ounce.

Among companies making big moves:

””Facebook jumped after Stifel Nicolaus analysts upgraded the stock to "Buy" from "Hold," saying the company is one of the most compelling investments in the Internet sector. The stock rose $1.04, or 4.5 percent, to $24.33.

””B&G Foods, whose brands include Cream of Wheat and Mrs. Dash, jumped after announcing it would buy Robert's American Gourmet Food, whose brands include Pirate's Booty and Smart Puffs. B&G Foods rose $1.99, or 6.8 percent, to $31.17.

””Apricus Biosciences soared after reporting that its impotence drug, Vitaros, has been approved in 10 European countries. The stock shot up 17 cents, or 6.6 percent, to $2.73.


----------



## bigdog

Source: http://finance.yahoo.com 

Renewed concerns that central banks will ease off their support for the global economy hit the U.S. stock market Tuesday, wiping out its gain for the month.

It looked bad from the start. Indexes began sliding from the opening bell, trailing markets in Asia and Europe, which were rattled when the Bank of Japan decided not to take any new steps to spur growth in the world's third-largest economy.

The news out of Japan added to questions surrounding global central banks, investors said. U.S. markets have been shaken by speculation that the Federal Reserve will start curtailing its own bond-buying program in the coming months.

"There's just a lot of uncertainty," said Dan Greenhaus, chief global strategist at the brokerage BTIG in New York. "People are worried about the Fed. They're worried about a spike in interest rates. And then Japan says it's finished for now."

The Dow Jones industrial average dropped 116.57 points to 15,122.02. That's a decline of 0.8 percent. It fell as much as 152 points in the first hour of trading, climbed back by midday and then sank in the afternoon.

The Standard & Poor's 500 index fell 16.68 points to close at 1,626.13, a loss of 1 percent. All 10 industry groups in the index dropped, led by banks and energy companies. The S&P is now down 0.3 percent for the month.

The S&P 500 index has lost 2.6 percent since setting a record high on May 21. The next day, minutes from a Fed meeting suggested the central bank could decide to scale back its stimulus as early as June if the economy picks up.

Sprint Nextel gained 17 cents, or 2.4 percent, to $7.35 after Japan's Softbank raised its offer for the company. Softbank's total bid for the country's third-largest phone carrier is now valued at $21.6 billion, still short of the $25.5 billion offered by Dish Network.

Overseas, the Bank of Japan voted on Tuesday to stick to its current bond-buying program, disappointing those who had expected the bank to widen its effort. Japan's Nikkei stock index lost 1.5 percent.

Major stock markets in Europe also slumped. Germany's DAX dropped 1 percent and France's CAC-40 lost 1.4 percent.

The world's biggest central banks have bought trillions of dollars worth of bonds in recent years, pressing long-term interest rates down in an attempt to encourage borrowing and spending. In the U.S., the Fed buys $85 billion in bonds each month.

With plenty of signs the U.S. economy is improving, many on Wall Street expect the Fed will start cutting back this summer. That's one reason traders have been selling bonds, pushing the yield on the 10-year note from a low of 1.63 percent last month to 2.18 percent on Tuesday. 

 *The NYSE DOW closed  	LOWER ▼	-116.57	points or ▼	-0.76%	Tuesday, 11 June 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,122.02	▼	-116.57	▼	-0.76%	
	Nasdaq___	3,436.95	▼	-36.82	▼	-1.06%	
	S&P_500__	1,626.13	▼	-16.68	▼	-1.02%	
	30_Yr_Bond	3.330	▼	-0.04	▼	-1.07%	

NYSE Volume	3,855,556,500			 		 	
Nasdaq Volume	1,514,407,380			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,340.08	▼	-60.37	▼	-0.94%	
	DAX_____	8,222.46	▼	-85.23	▼	-1.03%	
	CAC_40__	3,810.56	▼	-53.80	▼	-1.39%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,748.90	▲	19.60	▲	0.41%	
	Shanghai_Comp	2,210.90	▼	-31.21	▼	-1.39%	
	Taiwan_Weight	8,116.15	▼	-44.40	▼	-0.54%	
	Nikkei_225____	13,317.62	▼	-196.58	▼	-1.45%	
	Hang_Seng____	21,354.66	▼	-260.43	▼	-1.20%	
	Strait_Times___	3,170.22	▼	-30.29	▼	-0.95%	
	NZX_50_Index__	4,463.58	▼	-9.81	▼	-0.22%	

http://finance.yahoo.com/news/us-stocks-end-choppy-day-201418781.html

*US stocks end a choppy day with a loss

Stocks end lower after choppy day as market is whipsawed by concern over central-bank pullback*

By Matthew Craft, AP Business Writer

Renewed concerns that central banks will ease off their support for the global economy hit the U.S. stock market Tuesday, wiping out its gain for the month.

It looked bad from the start. Indexes began sliding from the opening bell, trailing markets in Asia and Europe, which were rattled when the Bank of Japan decided not to take any new steps to spur growth in the world's third-largest economy.

The news out of Japan added to questions surrounding global central banks, investors said. U.S. markets have been shaken by speculation that the Federal Reserve will start curtailing its own bond-buying program in the coming months.

"There's just a lot of uncertainty," said Dan Greenhaus, chief global strategist at the brokerage BTIG in New York. "People are worried about the Fed. They're worried about a spike in interest rates. And then Japan says it's finished for now."

The Dow Jones industrial average dropped 116.57 points to 15,122.02. That's a decline of 0.8 percent. It fell as much as 152 points in the first hour of trading, climbed back by midday and then sank in the afternoon.

The Standard & Poor's 500 index fell 16.68 points to close at 1,626.13, a loss of 1 percent. All 10 industry groups in the index dropped, led by banks and energy companies. The S&P is now down 0.3 percent for the month.

The S&P 500 index has lost 2.6 percent since setting a record high on May 21. The next day, minutes from a Fed meeting suggested the central bank could decide to scale back its stimulus as early as June if the economy picks up.

Sprint Nextel gained 17 cents, or 2.4 percent, to $7.35 after Japan's Softbank raised its offer for the company. Softbank's total bid for the country's third-largest phone carrier is now valued at $21.6 billion, still short of the $25.5 billion offered by Dish Network.

Overseas, the Bank of Japan voted on Tuesday to stick to its current bond-buying program, disappointing those who had expected the bank to widen its effort. Japan's Nikkei stock index lost 1.5 percent.

Major stock markets in Europe also slumped. Germany's DAX dropped 1 percent and France's CAC-40 lost 1.4 percent.

The world's biggest central banks have bought trillions of dollars worth of bonds in recent years, pressing long-term interest rates down in an attempt to encourage borrowing and spending. In the U.S., the Fed buys $85 billion in bonds each month.

With plenty of signs the U.S. economy is improving, many on Wall Street expect the Fed will start cutting back this summer. That's one reason traders have been selling bonds, pushing the yield on the 10-year note from a low of 1.63 percent last month to 2.18 percent on Tuesday.

Jack Ablin, chief investment officer at BMO Private Bank in Chicago, said it's only natural that investors feel a little nervous after such a sharp rise in long-term interest rates. For starters, they're just not used to it. Many investors have grown used to seeing rates head steadily lower over the past 30 years.

"It's an adjustment period," Ablin said. "You want a stronger economy, OK, but that's coming with higher interest rates. Most people in the business have never encountered that."

In government bond trading, the yield on the 10-year Treasury note touched a 14-month high of 2.29 percent before heading back down to 2.18 percent in late trading, according to Tradeweb. That's down slightly from 2.21 percent late Monday.

The dollar fell sharply against the Japanese yen, sliding to 96.22 yen from 98.70 yen late Monday.

In commodities trading, crude oil fell 39 cents to $95.38 a barrel in New York. Gold dropped $9 to $1,377 an ounce.

The Nasdaq composite fell 36.82 points to 3,436.95, a drop of 1 percent.

Among other companies making big moves:

”” Lululemon Athletica plunged $14.43, or 18 percent, to $67.85 following news that the yoga-clothing maker's CEO will step down as soon as the company's board finds a replacement.

”” Dole Foods soared 22 percent after the company's CEO and his family offered to take the fresh fruit and vegetable company private at $12 per share. That bid values the company at $1.1 billion. The company's stock gained $2.26 to $12.46

”” Corinthian Colleges sank 32 cents, or 12 percent, to $2.46. The company disclosed that it's under investigation by the Securities and Exchange Commission and has been asked to turn over information on student attendance, recruitment and defaults on federal loans. The Santa Ana, Calif. company runs the Everest, Heald and WyoTech colleges


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market ended lower Wednesday as traders looked ahead to a critical Federal Reserve meeting next week.

Without any major economic news, traders grappled with the question hanging over financial markets: When will the Fed and other central banks pull back their economic stimulus programs?

The Dow Jones industrial average fell 126 points, or 0.8 percent, to 14,995. The Dow had its first three-day loss of the year and its second close below 15,000 in the past month.

"There's nothing concrete out there to turn us around today," Russell Croft, co-portfolio manager at the Croft Value Fund in Baltimore. "So naturally enough, people are back to thinking about the Fed."

The Dow was up as much as 119 points in the first few minutes of trading, then drifted lower throughout the day.

The Standard & Poor's 500 index fell 13 points, or 0.8 percent, to 1,612. All 10 industry groups in the S&P 500 index dropped, led by consumer-discretionary and utility companies.

The Nasdaq composite sank 36.52 points, or 1 percent, to 3,400.43.

Markets have turned turbulent in recent weeks as traders start preparing for a time when central banks around the world aren't pumping as much money into the financial system.

Two of the top-performing stocks in the S&P 500 this year, Netflix and BestBuy, led consumer-discretionary companies down. Netflix lost $6.82, or 3 percent, to $207.64. BestBuy dropped $1.01, or 4 percent, to $26.88. GameStop fell $1.13, or 3 percent, to $36.69.

The S&P 500 has lost 3.4 percent since reaching a record high on May 21. The next day, Fed chairman Ben Bernanke said the central bank could decide to scale down its bond-buying program in the coming months if the economy looks strong enough.

Since then, the discussion among investors has centered on what will happen when the Fed shifts course. "'Tapering' is definitely the word of the month," Croft said.

Many on Wall Street think the Fed could signal that it's ready to start cutting back on its $85 billion in bond purchases at the end of its two-day meeting next Wednesday. That's a key reason bond traders have been selling Treasurys, sending the 10-year yield from a low of 1.63 percent last month to as high as 2.29 percent this week.

Long-term borrowing rates are still near historic lows, but their jump over the past month has grabbed investors' attention, said Mark Travis, president and CEO of Intrepid Capital Management. "I think people are starting to pause," he said. "If rates continue to drift up, it's probably going to be a headwind for the market."

Despite the losses, there were a few bright spots. 

 *The NYSE DOW closed  	LOWER ▼	-126.79	points or ▼	-0.84%	Wednesday, 12 June 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,995.23	▼	-126.79	▼	-0.84%	
	Nasdaq___	3,400.43	▼	-36.52	▼	-1.06%	
	S&P_500__	1,612.52	▼	-13.61	▼	-0.84%	
	30_Yr_Bond	3.380	▲	0.04	▲	1.23%	

NYSE Volume	3,694,560,750			 		 	
Nasdaq Volume	1,546,810,500			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,299.45	▼	-40.63	▼	-0.64%	
	DAX_____	8,143.27	▼	-79.19	▼	-0.96%	
	CAC_40__	3,793.70	▼	-16.86	▼	-0.44%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,716.10	▼	-32.80	▼	-0.69%	
	Shanghai_Comp	2,210.90	▼	-31.21	▼	-1.39%	
	Taiwan_Weight	8,116.15	▼	-44.40	▼	-0.54%	
	Nikkei_225____	13,289.32	▼	-28.30	▼	-0.21%	
	Hang_Seng____	21,354.66	▼	-260.43	▼	-1.20%	
	Strait_Times___	3,153.48	▼	-16.90	▼	-0.53%	
	NZX_50_Index__	4,442.12	▼	-21.45	▼	-0.48%	

http://finance.yahoo.com/news/stock...M2MTYyYTM4BHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks slide on Wall Street; Dow below 15,000

Stocks slump on Wall Street, giving the Dow average its first three-day loss this year*

By Matthew Craft, AP Business Writer

The stock market ended lower Wednesday as traders looked ahead to a critical Federal Reserve meeting next week.

Without any major economic news, traders grappled with the question hanging over financial markets: When will the Fed and other central banks pull back their economic stimulus programs?

The Dow Jones industrial average fell 126 points, or 0.8 percent, to 14,995. The Dow had its first three-day loss of the year and its second close below 15,000 in the past month.

"There's nothing concrete out there to turn us around today," Russell Croft, co-portfolio manager at the Croft Value Fund in Baltimore. "So naturally enough, people are back to thinking about the Fed."

The Dow was up as much as 119 points in the first few minutes of trading, then drifted lower throughout the day.

The Standard & Poor's 500 index fell 13 points, or 0.8 percent, to 1,612. All 10 industry groups in the S&P 500 index dropped, led by consumer-discretionary and utility companies.

The Nasdaq composite sank 36.52 points, or 1 percent, to 3,400.43.

Markets have turned turbulent in recent weeks as traders start preparing for a time when central banks around the world aren't pumping as much money into the financial system.

Two of the top-performing stocks in the S&P 500 this year, Netflix and BestBuy, led consumer-discretionary companies down. Netflix lost $6.82, or 3 percent, to $207.64. BestBuy dropped $1.01, or 4 percent, to $26.88. GameStop fell $1.13, or 3 percent, to $36.69.

The S&P 500 has lost 3.4 percent since reaching a record high on May 21. The next day, Fed chairman Ben Bernanke said the central bank could decide to scale down its bond-buying program in the coming months if the economy looks strong enough.

Since then, the discussion among investors has centered on what will happen when the Fed shifts course. "'Tapering' is definitely the word of the month," Croft said.

Many on Wall Street think the Fed could signal that it's ready to start cutting back on its $85 billion in bond purchases at the end of its two-day meeting next Wednesday. That's a key reason bond traders have been selling Treasurys, sending the 10-year yield from a low of 1.63 percent last month to as high as 2.29 percent this week.

Long-term borrowing rates are still near historic lows, but their jump over the past month has grabbed investors' attention, said Mark Travis, president and CEO of Intrepid Capital Management. "I think people are starting to pause," he said. "If rates continue to drift up, it's probably going to be a headwind for the market."

Despite the losses, there were a few bright spots.

Cooper Tire & Rubber jumped 41 percent after Apollo Tyres, an Indian company, announced plans to buy the tire maker for $2.5 billion. The combined company would be one of the world's largest tire makers, Apollo said, with combined 2012 sales of $6.6 billion. Cooper Tire gained $10.10 to $34.66.

Gigamon soared 50 percent on its first day of trading as a public company. The Milpitas, Calif.-based company, which makes equipment for computer-network traffic, raised $128 million in its initial public offering Tuesday. Its stock surged $9.47 to $28.47.

In the market for U.S. government bonds, the yield on the 10-year Treasury note edged up to 2.23 percent from 2.18 percent late Tuesday.

In commodities trading, crude oil rose 50 cents to $95.88 a barrel. Gold rose $15 to $1,392 an ounce.

Among other stocks making moves:

”” First Solar slumped 11 percent, the biggest drop in the S&P 500, following news late Tuesday that the company plans to raise money through the sale of 8.5 million shares. That will dilute the market value of its shares. First Solar lost $4.68 to $47.54.

”” Rambus, a designer of memory chips, rose 52 cents, or 6 percent, to $8.55 after saying late Tuesday it had resolved a decade-old patent dispute with South Korean chipmaker Hynix. Hynix will pay Rambus $240 million over the next five years.

”” Ulta Salon Cosmetics & Fragrance jumped $12.51, or 15 percent, to $96.84. The company reported late Tuesday that its income increased 20 percent in the latest quarter.


----------



## bigdog

Source: http://finance.yahoo.com 

 Good news about hiring and spending at retail businesses helped send the U.S. stock market sharply higher Thursday.

For investors, the pair of government reports offered more encouragement that the U.S. economic recovery will continue, even as Europe and Japan struggle. The Standard & Poor's 500 index soared 23.84 points, or 1.5 percent, to 1,636.36. 

The gains were broad. All 10 industry groups within the S&P 500 rose, led by retailers and other consumer-discretionary companies. Gannet soared 34 percent, the most in the S&P 500, on news that it would buy another media company, Belo.

"The underlying fundamentals of our economy are clearly doing much better," said Brad McMillan, chief investment officer for Commonwealth Financial in Waltham, Mass.

Markets have been turbulent over the past three weeks. The S&P 500 climbed 17 percent from the start of the year to May 21 when it hit an all-time high of 1,669. The index began sliding the next day when the Federal Reserve said it would consider pulling back its support for the economy this year.

It's been a bumpy ride since. The index has fallen as low as 1,608, a trading range of 3.6 percent.

Investors have been debating when the Fed will begin cutting back its bond purchases and worrying about the effect. They could get a better sense next Wednesday, when the bank releases its policy statement and Fed Chairman Ben Bernanke holds another press conference.

"A lot of investors are worried about the Fed," said Bob Baur, chief global economist at Principal Global Investors in Des Moines, Iowa. "That's going to create a bumpy market at least until they get some clarity on that. But we really think the U.S. is in pretty good shape." 

Baur thinks the U.S. economic recovery will pick up speed later this year, which could help push corporate earnings and the stock market higher. 

The latest positive news came early Thursday when the government said the number of Americans seeking unemployment benefits fell 12,000 to 334,000, below what economists had expected. Jim O'Sullivan, chief U.S. economist at High Frequency Economics, wrote in a note to clients that the government's weekly numbers, while volatile, "continue to signal an improving labor market." 

The government also reported that U.S. retail sales increased 0.6 percent in May from April. That was up from a 0.1 percent gain in April and the fastest pace since February.

The Dow Jones industrial average rose 180.85 points, or 1.2 percent, to 15,176.08. The Nasdaq composite rose 44.93 points, or 1.2 percent, to 3,445.36. 

Some investors, like Anton Bayer, CEO of Up Capital Management in Granite Bay, Calif., believe that financial markets will falter when the Fed and other central banks pump less money into the system. The Fed has artificially propped up the economy, he thinks, which is why investors are nervous about what will happen when the central bank starts buying fewer bonds every month. 

 *The NYSE DOW closed  	HIGHER ▲	180.85	points or ▲	1.21%	Thursday, 13 June 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,176.08	▲	180.85	▲	1.21%	
	Nasdaq___	3,445.37	▲	44.94	▲	1.32%	
	S&P_500__	1,636.36	▲	23.84	▲	1.48%	
	30_Yr_Bond	3.330	▼	-0.05	▼	-1.45%	

NYSE Volume	3,843,868,250			 		 	
Nasdaq Volume	1,548,629,620			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,304.63	▲	5.18	▲	0.08%	
	DAX_____	8,095.39	▼	-47.88	▼	-0.59%	
	CAC_40__	3,797.98	▲	4.28	▲	0.11%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,684.90	▼	-31.20	▼	-0.66%	
	Shanghai_Comp	2,148.35	▼	-62.54	▼	-2.83%	
	Taiwan_Weight	7,951.66	▼	-164.49	▼	-2.03%	
	Nikkei_225____	12,445.38	▼	-843.94	▼	-6.35%	
	Hang_Seng____	20,887.04	▼	-467.62	▼	-2.19%	
	Strait_Times___	3,130.24	▼	-23.24	▼	-0.74%	
	NZX_50_Index__	4,401.91	▼	-40.22	▼	-0.91%	

http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*US stock market moves sharply higher

Stocks rise sharply in afternoon trading; Gannett jumps after deal to acquire Belo*

By Matthew Craft, AP Business Writer

Good news about hiring and spending at retail businesses helped send the U.S. stock market sharply higher Thursday.

For investors, the pair of government reports offered more encouragement that the U.S. economic recovery will continue, even as Europe and Japan struggle. The Standard & Poor's 500 index soared 23.84 points, or 1.5 percent, to 1,636.36. 

The gains were broad. All 10 industry groups within the S&P 500 rose, led by retailers and other consumer-discretionary companies. Gannet soared 34 percent, the most in the S&P 500, on news that it would buy another media company, Belo.

"The underlying fundamentals of our economy are clearly doing much better," said Brad McMillan, chief investment officer for Commonwealth Financial in Waltham, Mass.

Markets have been turbulent over the past three weeks. The S&P 500 climbed 17 percent from the start of the year to May 21 when it hit an all-time high of 1,669. The index began sliding the next day when the Federal Reserve said it would consider pulling back its support for the economy this year.

It's been a bumpy ride since. The index has fallen as low as 1,608, a trading range of 3.6 percent.

Investors have been debating when the Fed will begin cutting back its bond purchases and worrying about the effect. They could get a better sense next Wednesday, when the bank releases its policy statement and Fed Chairman Ben Bernanke holds another press conference.

"A lot of investors are worried about the Fed," said Bob Baur, chief global economist at Principal Global Investors in Des Moines, Iowa. "That's going to create a bumpy market at least until they get some clarity on that. But we really think the U.S. is in pretty good shape." 

Baur thinks the U.S. economic recovery will pick up speed later this year, which could help push corporate earnings and the stock market higher. 

The latest positive news came early Thursday when the government said the number of Americans seeking unemployment benefits fell 12,000 to 334,000, below what economists had expected. Jim O'Sullivan, chief U.S. economist at High Frequency Economics, wrote in a note to clients that the government's weekly numbers, while volatile, "continue to signal an improving labor market." 

The government also reported that U.S. retail sales increased 0.6 percent in May from April. That was up from a 0.1 percent gain in April and the fastest pace since February.

The Dow Jones industrial average rose 180.85 points, or 1.2 percent, to 15,176.08. The Nasdaq composite rose 44.93 points, or 1.2 percent, to 3,445.36. 

Some investors, like Anton Bayer, CEO of Up Capital Management in Granite Bay, Calif., believe that financial markets will falter when the Fed and other central banks pump less money into the system. The Fed has artificially propped up the economy, he thinks, which is why investors are nervous about what will happen when the central bank starts buying fewer bonds every month. 

"What the markets are seeing is the economic engines are not being primed," Bayer said. "The fear is of the stimulus going away and exposing an economy that is not really chugging along. It's the big risk."

In the U.S. government bond market, the yield on the 10-year Treasury note dropped to 2.14 percent from 2.23 percent late Wednesday.

In Japan, the benchmark Nikkei 225 index slumped 6.4 percent as doubts grew that Prime Minister Shinzo Abe's economic turnaround plan will succeed. The Japanese market is down 20 percent from a high reached May 22, the definition of a bear market. 

That decline followed an extraordinary surge from mid-November to late May. The Nikkei soared 80 percent as investors hoped Japan would finally emerge from its two-decade economic slump.

The price of crude oil rose 13 cents to $96.01 a barrel in New York. Gold dropped $13.70 to $1,378.30 an ounce.

Among stocks making big moves:

”” Safeway jumped $1.71, or 7 percent, to $24.82 after the company said late Wednesday that it would sell its supermarket business in Canada to food retailer Sobeys for $5.7 billion.

”” Gannett soared $6.75 to $26.60 after announcing its deal to buy Belo for $1.5 billion.

”” Williams Companies fell 33 cents, or 1 percent, to $33.70. A fire at the company's Louisiana petrochemical plant sent its stock down. The plant makes highly flammable gases, ethylene and propylene.


----------



## bigdog

Source: http://finance.yahoo.com 

Disappointing reports about the U.S. economy helped push the stock market lower on Friday. 

Concerns that the Federal Reserve could announce plans to cut back its stimulus program next week also weighed on the mood.

Americans' confidence in the economy weakened in June and was lower than economists had estimated, according to the Thomson Reuters/University of Michigan survey out Friday. Another report said factories weren't as busy as expected.

The International Monetary Fund, a global lender, offered no help. The IMF said Friday that U.S. government spending cuts that kicked in March 1 were "ill-designed" and slowed the economy down. 

The Standard & Poor's 500 index sank 9.63 points, or 0.6 percent, to 1,626.73. Media company Gannett fell the most, dropping $1.61, or 6 percent, to $24.99.

"There was just no good news today," said Cam Albright, a director at Wilmington Trust Investment Advisors in Wilmington, Del. Add the handful of economic reports out Friday to the anxiety over the Fed's stimulus program, "and you have the recipe for a soft market to finish the week," he said. 

The Dow Jones industrial dropped 105.90 points, or 0.7 percent, to 15,070.18. American Express led the Dow lower, losing $2.24, or 3 percent, to $72.97. 

Market indexes flitted from slight gains to losses in morning trading, a contrast to the sudden lurches in previous days. All three major indexes lost 1 percent or more this week.

Trading has been volatile since late May as traders try to figure out when the Fed will dial back its aggressive support for the U.S. economy. This week was no different: The Dow slumped a total of 243 points on Tuesday and Wednesday then jumped 180 points Thursday. The blue-chip average has made moves of 100 points or more in seven of the last 10 trading days.

The Fed buys $85 billion in bonds every month as part of a campaign to keep interest rates extremely low. The aim is to encourage borrowing, spending and investing. Some investors worry that long-term interest rates could spike when the Fed pulls back, raising borrowing costs and threatening the economic recovery. Higher yields for government bonds have already started pushing mortgage rates up. 

Policymakers at the Fed will start a two-day meeting Tuesday to discuss the central bank's next steps. After the meeting wraps up, the bank will release its policy statement and Fed Chairman Ben Bernanke will hold another press conference. 

 *The NYSE DOW closed  	LOWER ▼	-105.90	points or ▼	-0.70%	Friday, 14 June 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,070.18	▼	-105.90	▼	-0.70%	
	Nasdaq___	3,423.56	▼	-21.81	▼	-0.63%	
	S&P_500__	1,626.73	▼	-9.63	▼	-0.59%	
	30_Yr_Bond	3.300	▼	-0.03	▼	-0.87%	

NYSE Volume	3,289,855,500			 		 	
Nasdaq Volume	1,424,989,500			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,308.26	▲	3.63	▲	0.06%	
	DAX_____	8,127.96	▲	32.57	▲	0.40%	
	CAC_40__	3,805.16	▲	7.18	▲	0.19%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,775.50	▲	90.60	▲	1.93%	
	Shanghai_Comp	2,162.04	▲	13.69	▲	0.64%	
	Taiwan_Weight	7,937.74	▼	-13.92	▼	-0.18%	
	Nikkei_225____	12,686.52	▲	241.14	▲	1.94%	
	Hang_Seng____	20,969.14	▲	82.10	▲	0.39%	
	Strait_Times___	3,161.43	▲	30.74	▲	0.98%	
	NZX_50_Index__	4,420.98	▲	19.08	▲	0.43%	

http://finance.yahoo.com/news/disap...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Disappointing reports help push US stocks down

Stocks fall, extending a loss for the week, after disappointing reports about the US economy*

By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Disappointing reports about the U.S. economy helped push the stock market lower on Friday. 

Concerns that the Federal Reserve could announce plans to cut back its stimulus program next week also weighed on the mood.

Americans' confidence in the economy weakened in June and was lower than economists had estimated, according to the Thomson Reuters/University of Michigan survey out Friday. Another report said factories weren't as busy as expected.

The International Monetary Fund, a global lender, offered no help. The IMF said Friday that U.S. government spending cuts that kicked in March 1 were "ill-designed" and slowed the economy down. 

The Standard & Poor's 500 index sank 9.63 points, or 0.6 percent, to 1,626.73. Media company Gannett fell the most, dropping $1.61, or 6 percent, to $24.99.

"There was just no good news today," said Cam Albright, a director at Wilmington Trust Investment Advisors in Wilmington, Del. Add the handful of economic reports out Friday to the anxiety over the Fed's stimulus program, "and you have the recipe for a soft market to finish the week," he said. 

The Dow Jones industrial dropped 105.90 points, or 0.7 percent, to 15,070.18. American Express led the Dow lower, losing $2.24, or 3 percent, to $72.97. 

Market indexes flitted from slight gains to losses in morning trading, a contrast to the sudden lurches in previous days. All three major indexes lost 1 percent or more this week.

Trading has been volatile since late May as traders try to figure out when the Fed will dial back its aggressive support for the U.S. economy. This week was no different: The Dow slumped a total of 243 points on Tuesday and Wednesday then jumped 180 points Thursday. The blue-chip average has made moves of 100 points or more in seven of the last 10 trading days.

The Fed buys $85 billion in bonds every month as part of a campaign to keep interest rates extremely low. The aim is to encourage borrowing, spending and investing. Some investors worry that long-term interest rates could spike when the Fed pulls back, raising borrowing costs and threatening the economic recovery. Higher yields for government bonds have already started pushing mortgage rates up. 

Policymakers at the Fed will start a two-day meeting Tuesday to discuss the central bank's next steps. After the meeting wraps up, the bank will release its policy statement and Fed Chairman Ben Bernanke will hold another press conference. 

Scott King, senior fiduciary investment adviser at Unified Trust in Lexington, Ky., said that investors in recent weeks have been influenced more by wondering about what the Fed might do than by the underlying economy. 

"You have a number of Fed governors saying the opposite to what Bernanke is saying," King said. "And that's made the markets more jittery."

King said investors were disappointed Friday by the drop in consumer confidence. He described the economy as "plodding along."

"Wage growth continues to be pretty meager, and unemployment continues to be lackluster," King said.

Banks led nine of the 10 industry groups in the S&P 500 lower. Utilities made slight gains. Investors tend to favor these safety plays when they want stable companies that pay steady dividends.

The S&P 500 hit a record high of 1,669 on May 21. The next day, Fed officials said they would consider pulling back on their stimulus program once the economy looks healthy enough. The S&P 500 has lost 2 percent since.

In other Friday trading, the Nasdaq composite index lost 21.81 points, or 0.6 percent, to 3,423.56.

The price of oil rose $1.16 to close at $97.85 a barrel, near its highest level of the year, as traders reacted to news that the U.S. would provide weapons to rebel forces in Syria. 

Gold rose $9.80, or 0.7 percent, to $1,387.60 an ounce.

In the market for U.S. government bonds, the yield on the benchmark 10-year Treasury note dipped to 2.13 percent from 2.15 percent late Thursday. The yield reached a 14-month high of 2.29 percent on Tuesday. Expectations that the Fed will pare its bond buying have helped drive the yield up from 1.63 percent on May 3, when it was at its lowest level this year.

Among stocks making big moves:

”” Casey's General Stores fell $2.60, or 4 percent, to $60.69. The Iowa-based convenience store reported earnings late Thursday that fell short of what financial analysts had expected.

”” Myriad Genetics sank $4.42, or 14 percent, to $27.59. The decline came a day after the Supreme Court gave the diagnostic test maker a partial victory in a patent battle.

”” Restoration Hardware jumped $9.51, or 16 percent, to $68.47. The high-end home products chain raised its forecast for full-year earnings late Thursday and announced plans to start two new businesses ”” RH Kitchen and Tableware and RH Antiquities ”” next year.

3975


----------



## bigdog

Source: http://finance.yahoo.com 

Investors on Wall Street are playing a guessing game with the Federal Reserve.

On Monday, they guessed that the central bank will continue trying to prop up the economy and sent stocks higher.

The major stock indexes all rose about 1 percent in early trading and stayed there for most of the day, before dipping slightly in the afternoon. The Standard & Poor's 500 index rose 12.31 points, or 0.8 percent, to 1,639.04. It had been up as much as 20 points.

The market's gains were broad. Telecommunications was the only one of the 10 industry sectors in the S&P 500 to post a loss. Netflix did better than any other stock in the S&P 500 after announcing that it will run original TV series from Dreamworks Animation.

Overall, though, there were few big company announcements or economic reports. Trading was light, the day more a holding pattern than a referendum. Investors will have to keep guessing about the Fed's future actions until Wednesday, when it will release a policy statement shortly after midday.

Investors sent stocks up Monday because they think Fed policymakers will determine that the economy isn't recovering fast enough. That might seem like a contradiction, but a still-weak economy would influence the Fed to continue its programs designed to stimulate the economy: keeping interest rates low to encourage borrowing, and buying bonds to push investors into stocks.

Not everyone thinks that's a logical pattern.

Doug Lockwood, branch president of Hefty Wealth Partners, a financial advisory firm in Auburn, Ind., said it's not rational for the stock market to regard bad news as good, and to be yanked back and forth more by the actions of a central bank than the underlying fundamentals of the economy.

"I think the market's a little hooked on a drug here," Lockwood said. "You take drugs, you feel better, but it's short-lived. Printing of money should never be considered a great thing for the economy."

The market has been in flux since May 22, when Fed Chairman Ben Bernanke said the Fed would consider pulling back on its bond-buying program if measures of the economy, especially hiring, improve. The comment, made not in prepared testimony but in response to a question from the Joint Economic Committee in Congress, was not expected. In the 17 trading days since then, the Dow Jones industrial average has swung by triple digits 11 times. Overall, the Dow is down about 1 percent since before Bernanke's testimony.

Jim McDonald, chief investment strategist at Northern Trust in Chicago, said Bernanke will seek to "walk back" on some of his previous comments, and reassure investors that the Fed won't pull back on stimulus until it's sure the economy is ready. The surprise factor, more than the substance of Bernanke's comments, might have been what unnerved investors, McDonald said.

"The market hates surprises," McDonald said. "And he surprised us."

The fact that Bernanke is now expected to regard the economy as weak enough to still need stimulus stems from two main data points issued since his testimony, analysts said: a jobs report and low inflation. 

In other U.S. stock trading, the Dow rose 109.67 points, or 0.7 percent, to 15,179.85. The Nasdaq composite rose 28.58, or 0.8 percent, to 3,452.13.

 *The NYSE DOW closed  	HIGHER ▲	109.67	points or ▲	0.73%	Monday, 17 June 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,179.85	▲	109.67	▲	0.73%	
	Nasdaq___	3,452.13	▲	28.58	▲	0.83%	
	S&P_500__	1,639.04	▲	12.31	▲	0.76%	
	30_Yr_Bond	3.348	▲	0.05	▲	1.55%	

NYSE Volume	3,462,874,500			 		 	
Nasdaq Volume	1,579,873,000			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,330.49	▲	25.86	▲	0.41%	
	DAX_____	8,215.73	▲	87.77	▲	1.08%	
	CAC_40__	3,863.66	▲	58.50	▲	1.54%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,805.00	▲	29.50	▲	0.62%	
	Shanghai_Comp	2,156.21	▼	-5.83	▼	-0.27%	
	Taiwan_Weight	7,992.89	▲	55.15	▲	0.69%	
	Nikkei_225____	13,033.12	▲	346.60	▲	2.73%	
	Hang_Seng____	21,225.90	▲	256.76	▲	1.22%	
	Strait_Times___	3,185.70	▲	24.27	▲	0.77%	
	NZX_50_Index__	4,447.64	▲	26.66	▲	0.60%	

http://finance.yahoo.com/news/inves...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Investors guess Fed's actions, push stocks higher

Investors try to predict Fed's actions and guess stimulus will continue, pushing stocks higher*

By Christina Rexrode, AP Business Writer

Investors on Wall Street are playing a guessing game with the Federal Reserve.

On Monday, they guessed that the central bank will continue trying to prop up the economy and sent stocks higher.

The major stock indexes all rose about 1 percent in early trading and stayed there for most of the day, before dipping slightly in the afternoon. The Standard & Poor's 500 index rose 12.31 points, or 0.8 percent, to 1,639.04. It had been up as much as 20 points.

The market's gains were broad. Telecommunications was the only one of the 10 industry sectors in the S&P 500 to post a loss. Netflix did better than any other stock in the S&P 500 after announcing that it will run original TV series from Dreamworks Animation.

Overall, though, there were few big company announcements or economic reports. Trading was light, the day more a holding pattern than a referendum. Investors will have to keep guessing about the Fed's future actions until Wednesday, when it will release a policy statement shortly after midday.

Investors sent stocks up Monday because they think Fed policymakers will determine that the economy isn't recovering fast enough. That might seem like a contradiction, but a still-weak economy would influence the Fed to continue its programs designed to stimulate the economy: keeping interest rates low to encourage borrowing, and buying bonds to push investors into stocks.

Not everyone thinks that's a logical pattern.

Doug Lockwood, branch president of Hefty Wealth Partners, a financial advisory firm in Auburn, Ind., said it's not rational for the stock market to regard bad news as good, and to be yanked back and forth more by the actions of a central bank than the underlying fundamentals of the economy.

"I think the market's a little hooked on a drug here," Lockwood said. "You take drugs, you feel better, but it's short-lived. Printing of money should never be considered a great thing for the economy."

The market has been in flux since May 22, when Fed Chairman Ben Bernanke said the Fed would consider pulling back on its bond-buying program if measures of the economy, especially hiring, improve. The comment, made not in prepared testimony but in response to a question from the Joint Economic Committee in Congress, was not expected. In the 17 trading days since then, the Dow Jones industrial average has swung by triple digits 11 times. Overall, the Dow is down about 1 percent since before Bernanke's testimony.

Jim McDonald, chief investment strategist at Northern Trust in Chicago, said Bernanke will seek to "walk back" on some of his previous comments, and reassure investors that the Fed won't pull back on stimulus until it's sure the economy is ready. The surprise factor, more than the substance of Bernanke's comments, might have been what unnerved investors, McDonald said.

"The market hates surprises," McDonald said. "And he surprised us."

The fact that Bernanke is now expected to regard the economy as weak enough to still need stimulus stems from two main data points issued since his testimony, analysts said: a jobs report and low inflation.

Earlier this month, the government reported that the U.S. added 175,000 jobs in May ”” a solid addition, but not enough to cut into the unemployment rate. And on Friday, the government said that a key measure of inflation ”” the producer price index, which measures wholesale prices ”” rose just 0.1 percent after stripping out the volatile costs of food and gas. That's important because the Fed knows that its stimulus measures can stoke inflation; if inflation is low, that gives the central bank more flexibility to keep pumping money into the economy.

Two measures of economic data released Monday were positive, though both are considered less-important gauges of the U.S. economy. A report on New York state manufacturing showed a pickup, and a survey of U.S. homebuilders said they were more optimistic about home sales than they have been in seven years.

Fred Dickson, chief investment strategist at D.A. Davidson & Co. in Portland, Oregon, described the economy as moving "grudgingly ahead." But sustained growth can't come, he said, until the government gives businesses a better idea of what to expect in the way of financial, health care, labor and energy rules.

"Businesses seem to be suffering from a severe case of 'what's-next-itis' paralysis," Dickson said.

Japan, trying to spur its own economy with a central bank bond-buying program, saw its benchmark Nikkei 225 index jump nearly 3 percent, extending Friday's gain of about 2 percent. Japan's market has also been ricocheted by investors trying to guess the future of its central bank's stimulus actions. Monday's gains were driven by a drop in the value of the yen, which makes Japan's exports cheaper and more competitive. The Nikkei is still down 15 percent since the day before Bernanke's testimony.

In other U.S. stock trading, the Dow rose 109.67 points, or 0.7 percent, to 15,179.85. The Nasdaq composite rose 28.58, or 0.8 percent, to 3,452.13.

The price of crude oil rose throughout the day, but ended 8 cents lower at $97.77 a barrel in New York. Gold edged down $4.50 to $1,383.10 an ounce.

Among U.S. stocks making big moves:

””Pinnacle Entertainment, a casino and racetrack operator, jumped more than 4 percent after it moved closer to regulatory approval for its purchase of Ameristar Casinos. Pinnacle rose 79 cents to $19.64. Ameristar rose 19 cents, less than 1 percent, to $26.39.

””Johnson & Johnson rose 72 cents, less than 1 percent, to $85.63, after saying it would buy Aragon Pharmaceuticals, a private company focused on drugs for hormonally-driven cancers.

””Boeing was up after Qatar Airways and the aircraft leasing arm of General Electric put in an orders for aircraft. Boeing rose $1.20, or 1.2 percent, to $103.03.

””Google rose $11.21, or 1.3 percent, to $886.25, after resolving a shareholder lawsuit that had blocked a stock split. That means it will avoid a scheduled Delaware Chancery Court trial that could have cast it in an unflattering light.


----------



## bigdog

Source: http://finance.yahoo.com 

It's all about the Fed. Still. 

U.S. stocks moved higher Tuesday, helped by news of a pickup in home building and low inflation. But the Federal Reserve loomed large, with investors trying to guess what the central bank will say Wednesday about how long it plans to keep stimulus programs in place. For many, the market was in a holding pattern as investors waited for Wednesday's announcement. 

The market's gains were steady and broad. The Standard & Poor's 500 index rose 12.77 points, or 0.8 percent, to 1,651.81. All 10 of its sectors rose, led by industrial and telecommunications companies. The Russell 2000, an index of smaller companies, closed at a record high but fell just shy of the 1,000-point milestone.

In other trading, the Dow Jones industrial average rose 138.38 points, or 0.9 percent, to 15,318.23. The Nasdaq composite index rose 30.05 points, or 0.9 percent, to 3,482.18.

The Russell 2000 rose 12.15 points, or 1.2 percent, to 999.99 ”” the closest it has ever come to breaking 1,000. 

Tuesday's wait-and-see vibe came from a familiar template. The Fed has had an outsized effect on the stock market in recent weeks, with the major indexes getting yanked back and forth as investors try to guess how long the central bank will keep supporting the U.S. economy. 

Some investors say it's troubling that the market is relying more on the central bank for direction than economic fundamentals. The latest turning point was May 22, when Fed Chairman Ben Bernanke startled markets by announcing that the central bank could soon pull back on its bond-buying program if the economy improves. 

"Here we are again," said Gregg Fisher, founder and chief investment officer of Gerstein Fisher, a financial advisory firm in New York. "We don't know what the actions will be. We're all trying to figure that out." 

The Fed's role in the market has swelled since the 2008 financial crisis. The central bank, which is best known for helping set interest rates, has taken an increasingly bigger role in trying to amp up the economy. Its bond-buying program is meant to keep interest rates low, which can encourage borrowing and drive investors into the stock market. The Fed's purchases have swollen its portfolio to $3.4 trillion, a four-fold increase since before the crisis. 

"The game is different from what it used to be," said Mark Spellman, portfolio manager for Value Line Funds, a mutual fund company in New York. "It's not just, 'Is the Fed going to raise (its benchmark interest rate) up or down?'" It's 'Is the Fed going to keep buying $85 billion worth of bonds each month?'"

Analysts predicted that Bernanke would use his Wednesday news conference to cast a reassuring tone and make it clear that the Fed won't pull back on any of its programs until it's sure the economy can handle it. He's also likely to drop more hints about when the Fed could start trimming its stimulus programs. Some said that recent market volatility hasn't been caused by fear that the Fed will pull back on its stimulus programs ”” most everyone expects that to happen eventually. It's more because investors don't want to be surprised when it does. 			

 *The NYSE DOW closed  	HIGHER ▲	138.38	points or ▲	0.91%	Tuesday, 18 June 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,318.23	▲	138.38	▲	0.91%	
	Nasdaq___	3,482.18	▲	30.05	▲	0.87%	
	S&P_500__	1,651.81	▲	12.77	▲	0.78%	
	30_Yr_Bond	3.340	▼	-0.01	▼	-0.18%	

NYSE Volume	3,422,284,750			 		 	
Nasdaq Volume	1,673,159,880			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,374.21	▲	43.72	▲	0.69%	
	DAX_____	8,229.51	▲	13.78	▲	0.17%	
	CAC_40__	3,860.55	▼	-3.11	▼	-0.08%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,794.60	▼	-10.40	▼	-0.22%	
	Shanghai_Comp	2,159.29	▲	3.08	▲	0.14%	
	Taiwan_Weight	8,011.02	▲	18.13	▲	0.23%	
	Nikkei_225____	13,007.28	▼	-25.84	▼	-0.20%	
	Hang_Seng____	21,225.88	▼	-0.02	▲	0.00%	
	Strait_Times___	3,229.55	▲	46.11	▲	1.45%	
	NZX_50_Index__	4,462.10	▲	14.46	▲	0.33%	

http://finance.yahoo.com/news/waiti...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Waiting for word from Bernanke, stocks move higher

Stocks move higher as investors wait for Bernanke to bring clarity; home building picks up*

By Christina Rexrode, AP Business Writer 

It's all about the Fed. Still. 

U.S. stocks moved higher Tuesday, helped by news of a pickup in home building and low inflation. But the Federal Reserve loomed large, with investors trying to guess what the central bank will say Wednesday about how long it plans to keep stimulus programs in place. For many, the market was in a holding pattern as investors waited for Wednesday's announcement. 

The market's gains were steady and broad. The Standard & Poor's 500 index rose 12.77 points, or 0.8 percent, to 1,651.81. All 10 of its sectors rose, led by industrial and telecommunications companies. The Russell 2000, an index of smaller companies, closed at a record high but fell just shy of the 1,000-point milestone.

Tuesday's wait-and-see vibe came from a familiar template. The Fed has had an outsized effect on the stock market in recent weeks, with the major indexes getting yanked back and forth as investors try to guess how long the central bank will keep supporting the U.S. economy. 

Some investors say it's troubling that the market is relying more on the central bank for direction than economic fundamentals. The latest turning point was May 22, when Fed Chairman Ben Bernanke startled markets by announcing that the central bank could soon pull back on its bond-buying program if the economy improves. 

"Here we are again," said Gregg Fisher, founder and chief investment officer of Gerstein Fisher, a financial advisory firm in New York. "We don't know what the actions will be. We're all trying to figure that out." 

The Fed's role in the market has swelled since the 2008 financial crisis. The central bank, which is best known for helping set interest rates, has taken an increasingly bigger role in trying to amp up the economy. Its bond-buying program is meant to keep interest rates low, which can encourage borrowing and drive investors into the stock market. The Fed's purchases have swollen its portfolio to $3.4 trillion, a four-fold increase since before the crisis. 

"The game is different from what it used to be," said Mark Spellman, portfolio manager for Value Line Funds, a mutual fund company in New York. "It's not just, 'Is the Fed going to raise (its benchmark interest rate) up or down?'" It's 'Is the Fed going to keep buying $85 billion worth of bonds each month?'"

Analysts predicted that Bernanke would use his Wednesday news conference to cast a reassuring tone and make it clear that the Fed won't pull back on any of its programs until it's sure the economy can handle it. He's also likely to drop more hints about when the Fed could start trimming its stimulus programs. Some said that recent market volatility hasn't been caused by fear that the Fed will pull back on its stimulus programs ”” most everyone expects that to happen eventually. It's more because investors don't want to be surprised when it does. 

Brian Doe, wealth adviser at Gratus Capital in Atlanta, described the Fed's policy announcements as "the big wind" that could push the market around. 

"Right now the wind is not blowing," Doe said. "We have this little calm where everybody can be optimistic."

The Commerce Department reported that the pace of new home building increased in May, helped by more buyers coming to the market and a scarcity of houses for sale. Investors described the report as good enough to send the market up, but not good enough for the Fed to think the economy is healthy enough to abruptly slash its stimulus efforts.

The Labor Department reported that U.S. consumer prices rose last month, but only slightly. That's also likely to influence the Fed's decisions. The Fed knows that its stimulus programs can lead to inflation. If inflation is in check, however, that gives the Fed more leeway to continue the programs.

In other trading, the Dow Jones industrial average rose 138.38 points, or 0.9 percent, to 15,318.23. The Nasdaq composite index rose 30.05 points, or 0.9 percent, to 3,482.18.

The Russell 2000 rose 12.15 points, or 1.2 percent, to 999.99 ”” the closest it has ever come to breaking 1,000.

The yield on the 10-year Treasury note edged up to 2.19 percent from 2.18 percent late Monday.

Among stocks making big moves:

””Hormel Foods, the maker of Skippy peanut butter and Spam, slipped after the company said it expects lower profits for the year. The stock fell $1.46, or 3.6 percent, to $39.19.

””Fast-food chain Jack in the Box rose after announcing it will close some of the Qdoba Mexican Grill restaurants that it owns. Jack in the Box gained $1.82, or 4.9 percent, to $38.81.

””Signet Jewelers, which runs the Kay Jewelers and Jared brands, rose after announcing that it plans to buy back up to $350 million of its own stock. Signet rose $1.94, or 2.9 percent, to $69.91.

””Newfield Exploration was up after a Stifel Nicolaus analyst boosted the stock to "Buy" from "Hold." Shares of the oil and natural gas company rose 93 cents, or 4 percent, to $23.94.


----------



## bigdog

Source: http://finance.yahoo.com 

Financial markets shuddered Wednesday after the Federal Reserve said it could start scaling back its huge economic stimulus program later this year and end it by the middle of 2014.

The reaction by investors -- the Dow Jones industrial average fell more than 200 points and the yield on the 10-year Treasury note rose to its highest in 15 months -- showed just how much investors have come to depend on the Fed's easy money policies that have helped send the stock market up 140 percent in the past four years.

"Any whiff there's going to be reduction in the (Fed's) ammunition is met with selling," said James Camp, managing director of fixed income at Eagle Asset Management.

The selloff was broad. All 10 sectors in the Standard's & Poor's 500 fell, led by high-dividend stocks like telecommunications and utilities.

The Fed's $85 billion in monthly bond purchases have helped the U.S. economy by keeping long-term interest rates low and encouraging borrowing and investing. Now, it looks like the Fed is closer to ending that program as the U.S. economy improves.

The stock market drifted lower for most of the day, ahead of a scheduled statement from the Fed and a press conference by Chairman Ben Bernanke. The Dow was down just 16 points shortly before the central bank released a policy statement and economic outlook at 2 p.m.

Stocks started to fall after the Fed's statement. The selling accelerated after Bernanke began speaking at 2:30 p.m. The Dow Jones industrial average fell 206.04 points, or 1.4 percent, to 15,112.19. Other indexes also fell.

Bond and currency investors reacted more sharply to the Fed's news. Bond yields spiked as investors anticipated a slowdown in the Fed's purchases.

The yield on the 10-year Treasury note jumped to 2.31 percent, its highest in 15 months. The yield on the note started the day at 2.21 percent.

An index measuring the dollar against six other currencies surged 1 percent. The dollar rose against the Japanese yen, the euro and other currencies as traders anticipated higher U.S. rates.

The Standard & Poor's 500 index fell 22.88 points, or 1.4 percent, to 1,628.93.

For weeks, investors have been trying to figure out when the central bank will start to ease back on its bond purchases. 

 *The NYSE DOW closed  	LOWER ▼	-206.04	points or ▼	-1.35%	Wednesday, 19 June 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,112.19	▼	-206.04	▼	-1.35%	
	Nasdaq___	3,443.20	▼	-38.98	▼	-1.12%	
	S&P_500__	1,628.93	▼	-22.88	▼	-1.39%	
	30_Yr_Bond	3.410	▲	0.07	▲	2.15%	

NYSE Volume	3,987,055,750			 		 	
Nasdaq Volume	1,690,162,500			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,348.82	▼	-25.39	▼	-0.40%	
	DAX_____	8,197.08	▼	-32.43	▼	-0.39%	
	CAC_40__	3,839.34	▼	-21.21	▼	-0.55%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,841.80	▲	47.20	▲	0.98%	
	Shanghai_Comp	2,143.45	▼	-15.84	▼	-0.73%	
	Taiwan_Weight	8,007.39	▼	-3.63	▼	-0.05%	
	Nikkei_225____	13,245.22	▲	237.94	▲	1.83%	
	Hang_Seng____	20,986.89	▼	-238.99	▼	-1.13%	
	Strait_Times___	3,213.79	▼	-15.76	▼	-0.49%	
	NZX_50_Index__	4,445.55	▼	-16.55	▼	-0.37%	

http://finance.yahoo.com/news/stocks-slide-fed-says-bond-200915947.html

*Stocks slide as Fed says bond purchases could slow

Stocks slide and Treasury yields spike after Bernanke says Fed could slow its bond purchases*

By Steve Rothwell, AP Markets Writer

Financial markets shuddered Wednesday after the Federal Reserve said it could start scaling back its huge economic stimulus program later this year and end it by the middle of 2014.

The reaction by investors -- the Dow Jones industrial average fell more than 200 points and the yield on the 10-year Treasury note rose to its highest in 15 months -- showed just how much investors have come to depend on the Fed's easy money policies that have helped send the stock market up 140 percent in the past four years.

"Any whiff there's going to be reduction in the (Fed's) ammunition is met with selling," said James Camp, managing director of fixed income at Eagle Asset Management.

The selloff was broad. All 10 sectors in the Standard's & Poor's 500 fell, led by high-dividend stocks like telecommunications and utilities.

The Fed's $85 billion in monthly bond purchases have helped the U.S. economy by keeping long-term interest rates low and encouraging borrowing and investing. Now, it looks like the Fed is closer to ending that program as the U.S. economy improves.

The stock market drifted lower for most of the day, ahead of a scheduled statement from the Fed and a press conference by Chairman Ben Bernanke. The Dow was down just 16 points shortly before the central bank released a policy statement and economic outlook at 2 p.m.

Stocks started to fall after the Fed's statement. The selling accelerated after Bernanke began speaking at 2:30 p.m. The Dow Jones industrial average fell 206.04 points, or 1.4 percent, to 15,112.19. Other indexes also fell.

Bond and currency investors reacted more sharply to the Fed's news. Bond yields spiked as investors anticipated a slowdown in the Fed's purchases.

The yield on the 10-year Treasury note jumped to 2.31 percent, its highest in 15 months. The yield on the note started the day at 2.21 percent.

An index measuring the dollar against six other currencies surged 1 percent. The dollar rose against the Japanese yen, the euro and other currencies as traders anticipated higher U.S. rates.

The Standard & Poor's 500 index fell 22.88 points, or 1.4 percent, to 1,628.93.

For weeks, investors have been trying to figure out when the central bank will start to ease back on its bond purchases.

Speaking to reporters Wednesday, Bernanke said the bank could start scaling back its purchases later this year if the economy continues to improve. He said purchases could end by the middle of next year, and said reductions would occur in "measured steps."

Investors and traders were overreacting to the possibility of less stimulus, some analysts said. The economy will be strong enough for the Fed to start cutting back this year.

"I'm not really seeing a lot of reason for bonds to be selling off like they have or for the (stock) market to be down," said Scott Wren, a senior equity strategist at Wells Fargo Advisors. "If the market sells off on this, you have to view it as an opportunity," to buy.

The Fed's policy of low interest rates coupled with bond-buying has been a major factor in driving stocks higher since bottoming out in March 2009. The S&P 500 has gained 14.2 percent this year and has advanced more than 141 percent since its recession low.

In commodities trading, the price of crude oil fell 20 cents, or 0.2 percent, to $98.24 a barrel. The price of gold rose $7.10, or 0.5 percent, to $1,374 an ounce.

In other U.S. stock trading, the Nasdaq composite fell 38.98 points, or 1.1 percent, to 3,443.20.


----------



## bigdog

Source: http://finance.yahoo.com 

 There was no let-up in the flight from stocks and bonds Thursday as the Dow Jones industrial average plunged 353 points and wiped out almost two months of gains.

A day after the Federal Reserve roiled U.S financial markets when it said it could step back from its aggressive economic stimulus program later this year, financial markets continued to slide. A slowdown in Chinese manufacturing added to Wall Street's worries.

The breadth of the sell-off was seen across global financial markets, from sharply lower stock markets in Asia to falling government bond prices in Europe and the U.S. Gold also plunged.

The Dow's drop ”” which knocked the average down 2.3 percent to 14,758.32 ”” was its biggest since November 2011. It comes just three weeks after the blue-chip index reached an all-time high of 15,409.

The Standard & Poor's 500 lost 40.74 points, or 2.5 percent, to 1,588.19. It also reached a record high last month, peaking at 1,669.

Small-company stocks fell more than the rest of the market, a sign that investors are aggressively reducing risk. 

In U.S. government debt, the yield on the benchmark 10-year note rose to its highest level since August 2011.

A Fed policy statement and comments from Chairman Ben Bernanke started the selling in stocks and bonds Wednesday. Bernanke said the Fed expects to scale back its massive bond-buying program later this year and end it entirely by mid-2014 if the economy continues to improve. 

The bank has been buying $85 billion a month in Treasury and mortgage bonds, a program that has kept borrowing costs near historic lows for consumers and business. It has also helped boost the stock market.

Alec Young, a global equity strategist at S&P Capital IQ, said investors weren't expecting Bernanke to say the program could end so quickly, and are adjusting their portfolios in anticipation of higher U.S. interest rates.

"What we're seeing is a pretty significant sea-change in investor strategy," Young said.

As financial markets dropped, investors likely put the proceeds of their sales in cash as they waited for the dust to settle, said Quincy Krosby, a market strategist at Prudential Financial.

Investors "are raising cash right now, for fear the deterioration will continue," said Krosby.

The yield on the 10-year Treasury note rose to 2.41 percent, from 2.35 percent Wednesday. It's up sharply since May 3, when it hit a year low of 1.63 percent.

Government bonds are used as benchmarks for mortgage rates. The sharp increase in yields prompted investors to sell the stocks of homebuilders, whose business could be hurt if the pace of home buying slows down. Even an encouraging report on home sales Thursday failed to arrest the slide. 

 *The NYSE DOW closed  	LOWER ▼	-353.87	points or ▼	-2.34%	Thursday, 20 June 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,758.32	▼	-353.87	▼	-2.34%	
	Nasdaq___	3,364.64	▼	-78.57	▼	-2.28%	
	S&P_500__	1,588.19	▼	-40.74	▼	-2.50%	
	30_Yr_Bond	3.510	▲	0.10	▲	2.93%	

NYSE Volume	5,606,030,000			 		 	
Nasdaq Volume	2,035,062,500			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,159.51	▼	-189.31	▼	-2.98%	
	DAX_____	7,928.48	▼	-268.60	▼	-3.28%	
	CAC_40__	3,698.93	▼	-140.41	▼	-3.66%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,743.90	▼	-97.90	▼	-2.02%	
	Shanghai_Comp	2,084.02	▼	-59.43	▼	-2.77%	
	Taiwan_Weight	7,898.91	▼	-108.48	▼	-1.35%	
	Nikkei_225____	13,014.58	▼	-230.64	▼	-1.74%	
	Hang_Seng____	20,382.87	▼	-604.02	▼	-2.88%	
	Strait_Times___	3,133.26	▼	-80.53	▼	-2.51%	
	NZX_50_Index__	4,398.52	▼	-47.03	▼	-1.06%	

http://finance.yahoo.com/news/stocks-extend-slide-china-adds-171624378.html

*Stocks Extend Slide as China Adds to Worries

Stocks, bonds extend slide as China adds to market fears of Fed stimulus pullback*

By Steve Rothwell, AP Markets Writer 

There was no let-up in the flight from stocks and bonds Thursday as the Dow Jones industrial average plunged 353 points and wiped out almost two months of gains.

A day after the Federal Reserve roiled U.S financial markets when it said it could step back from its aggressive economic stimulus program later this year, financial markets continued to slide. A slowdown in Chinese manufacturing added to Wall Street's worries.

The breadth of the sell-off was seen across global financial markets, from sharply lower stock markets in Asia to falling government bond prices in Europe and the U.S. Gold also plunged.

The Dow's drop ”” which knocked the average down 2.3 percent to 14,758.32 ”” was its biggest since November 2011. It comes just three weeks after the blue-chip index reached an all-time high of 15,409.

The Standard & Poor's 500 lost 40.74 points, or 2.5 percent, to 1,588.19. It also reached a record high last month, peaking at 1,669.

Small-company stocks fell more than the rest of the market, a sign that investors are aggressively reducing risk. 

In U.S. government debt, the yield on the benchmark 10-year note rose to its highest level since August 2011.

A Fed policy statement and comments from Chairman Ben Bernanke started the selling in stocks and bonds Wednesday. Bernanke said the Fed expects to scale back its massive bond-buying program later this year and end it entirely by mid-2014 if the economy continues to improve. 

The bank has been buying $85 billion a month in Treasury and mortgage bonds, a program that has kept borrowing costs near historic lows for consumers and business. It has also helped boost the stock market.

Alec Young, a global equity strategist at S&P Capital IQ, said investors weren't expecting Bernanke to say the program could end so quickly, and are adjusting their portfolios in anticipation of higher U.S. interest rates.

"What we're seeing is a pretty significant sea-change in investor strategy," Young said.

As financial markets dropped, investors likely put the proceeds of their sales in cash as they waited for the dust to settle, said Quincy Krosby, a market strategist at Prudential Financial.

Investors "are raising cash right now, for fear the deterioration will continue," said Krosby.

The yield on the 10-year Treasury note rose to 2.41 percent, from 2.35 percent Wednesday. It's up sharply since May 3, when it hit a year low of 1.63 percent.

Government bonds are used as benchmarks for mortgage rates. The sharp increase in yields prompted investors to sell the stocks of homebuilders, whose business could be hurt if the pace of home buying slows down. Even an encouraging report on home sales Thursday failed to arrest the slide.

PulteGroup plunged $1.89, or 9.1 percent, to $18.87. D.R. Horton fell $2.13, also 9.1 percent, to $21.31.

Markets were also unnerved after manufacturing in China slowed at a faster pace this month as demand weakened. That added to concerns about growth in the world's second-largest economy. A monthly purchasing managers index from HSBC fell to a nine-month low of 48.3 in June. Numbers below 50 indicate a contraction. 

Earlier in other global markets, Japan's Nikkei index lost 1.7 percent. The FTSE 100 index of leading British shares fell 3 percent while Germany's DAX dropped 3.3 percent.

In currency trading, the dollar rose against the euro and the Japanese yen.

In commodities trading, gold plunged to its lowest point since September 2010, falling $87.80, or 6.4 percent, to $1,286.20 an ounce.

Traders sold the precious metal as its appeal as insurance against inflation and a weak dollar faded. Both became less of an issue after the Fed said it was contemplating an end to its bond-buying program.

The rising dollar pushed oil prices lower. A stronger dollar makes oil more expensive for holders of other currencies. The price of crude oil fell $2.84, or 2.9 percent, to finish at $95.40 a barrel in New York, its biggest drop since November

Some investors said the sell-off in stocks may be overdone. The Fed is considering easing back on its stimulus because the economy is improving. The central bank has upgraded its outlook for unemployment and economic growth.

The S&P 500 is still up 11.3 percent, for the year, not far from its full-year increase of 13.4 percent last year.

"People are overreacting a little bit," said Gene Goldman, head of research at Cetera Financial Group. "It goes back to the fundamentals, the economy is improving." 

In other trading, the Nasdaq composite fell 78.57 points, or 2.3 percent, to 3,364.63.

Among other stocks making big moves:

”” GameStop, a video game store chain that sells new and used games, rose $2.41, or 6.3 percent, to $40.94 after Microsoft backpedaled and said that there will be no limitations on sharing games on its upcoming Xbox One gaming console.

”” Rite Aid fell 23 cents, or 7.4 percent, to $2.88 after the nation's third-largest drugstore chain lowered its forecast for 2014 earnings.


----------



## bigdog

Source: http://finance.yahoo.com 

Traders decided that the stock market has suffered enough, at least for now. 

After a two-day plunge, stocks ended the week with an advance on Friday, suggesting that Wall Street may be successfully weaned from the Federal Reserve's easy money after all.

"Saner heads are prevailing," said Jim Dunigan, chief investment officer at PNC Wealth Management. "People are looking a little deeper into the message from the Fed ”” the economy is getting better," he said. "At the end of the day that's a positive."

The Fed's move also pushed up the yield on the 10-year Treasury note to the highest level in almost two years as investors bet that U.S. interest rates will rise.

Investors had known that sooner or later the Fed would quit spending $85 billion per month pumping money into the U.S. economy.

That money has been a big driver behind the stock market's bull run the last four years. It led to low interest rates that encouraged borrowing for everything from factory machinery to commercial airplanes to home renovations. Has the economy been great? No. Unemployment is still high and U.S. growth has been anemic. But it could have been worse. Investors were confident enough in a growing economy that the Standard & Poor's 500 index hit an all-time high of 1,669 on May 21. 

Then on Wednesday, the Fed said it would aim to turn off that spigot by the middle of next year as long as the economy is strong enough.

Just because investors knew it was coming didn't mean they liked it. The Dow dropped 560 points on Wednesday and Thursday.

Investors recovered their mojo on Friday. The Dow Jones industrial average rose 41.08 points, or 0.3 percent, to close at 14,799.40. The Standard & Poor's 500 index rose 4.24 points, or 0.3 percent to close at 1,592.43.

The gains were led by the kinds of stocks that investors favor when they want to play it safe. Makers of consumer staples, utilities, and health care companies rose the most of the 10 industries in the S&P 500 index. The only two categories that fell were technology stocks and companies that make basic materials. 

Friday's gain wasn't enough to erase the market's loss for the week. The S&P 500 fell 2.1 percent for the week, and the Dow was down 1.8 percent. Stocks have now fallen two weeks in a row, and four of the past five. 

The S&P 500 is still up 11.7 percent, for the year, not far from its full-year increase of 13.4 percent last year. 

 *The NYSE DOW closed  	HIGHER ▲	41.08	points or ▲	0.28%	Friday, 21 June 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,799.40	▲	41.08	▲	0.28%	
	Nasdaq___	3,357.25	▼	-7.39	▼	-0.22%	
	S&P_500__	1,592.43	▲	4.24	▲	0.27%	
	30_Yr_Bond	3.570	▲	0.05	▲	1.51%	

NYSE Volume	6,433,426,000			 		 	
Nasdaq Volume	2,919,954,250			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,116.17	▼	-43.34	▼	-0.70%	
	DAX_____	7,789.24	▼	-139.24	▼	-1.76%	
	CAC_40__	3,658.04	▼	-40.89	▼	-1.11%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,723.80	▼	-20.10	▼	-0.42%	
	Shanghai_Comp	2,073.10	▼	-10.93	▼	-0.52%	
	Taiwan_Weight	7,793.31	▼	-105.60	▼	-1.34%	
	Nikkei_225____	13,230.13	▲	215.55	▲	1.66%	
	Hang_Seng____	20,263.31	▼	-119.56	▼	-0.59%	
	Strait_Times___	3,124.45	▼	-8.81	▼	-0.28%	
	NZX_50_Index__	4,363.07	▼	-35.45	▼	-0.81%	

http://finance.yahoo.com/news/stock...lvbnMEdGVzdANIUl9Tb2NpYWxfTGlnaHRib3g-;_ylv=3

*Stocks recover on Wall Street after a 2-day plunge

Stocks recover after a 2-day plunge caused by anxiety over the prospect of a Fed pullback*

By Joshua Freed, AP Business Writer

Traders decided that the stock market has suffered enough, at least for now. 

After a two-day plunge, stocks ended the week with an advance on Friday, suggesting that Wall Street may be successfully weaned from the Federal Reserve's easy money after all.

"Saner heads are prevailing," said Jim Dunigan, chief investment officer at PNC Wealth Management. "People are looking a little deeper into the message from the Fed ”” the economy is getting better," he said. "At the end of the day that's a positive."

The Fed's move also pushed up the yield on the 10-year Treasury note to the highest level in almost two years as investors bet that U.S. interest rates will rise.

Investors had known that sooner or later the Fed would quit spending $85 billion per month pumping money into the U.S. economy.

That money has been a big driver behind the stock market's bull run the last four years. It led to low interest rates that encouraged borrowing for everything from factory machinery to commercial airplanes to home renovations. Has the economy been great? No. Unemployment is still high and U.S. growth has been anemic. But it could have been worse. Investors were confident enough in a growing economy that the Standard & Poor's 500 index hit an all-time high of 1,669 on May 21. 

Then on Wednesday, the Fed said it would aim to turn off that spigot by the middle of next year as long as the economy is strong enough.

Just because investors knew it was coming didn't mean they liked it. The Dow dropped 560 points on Wednesday and Thursday.

Investors recovered their mojo on Friday. The Dow Jones industrial average rose 41.08 points, or 0.3 percent, to close at 14,799.40. The Standard & Poor's 500 index rose 4.24 points, or 0.3 percent to close at 1,592.43.

The gains were led by the kinds of stocks that investors favor when they want to play it safe. Makers of consumer staples, utilities, and health care companies rose the most of the 10 industries in the S&P 500 index. The only two categories that fell were technology stocks and companies that make basic materials. 

Friday's gain wasn't enough to erase the market's loss for the week. The S&P 500 fell 2.1 percent for the week, and the Dow was down 1.8 percent. Stocks have now fallen two weeks in a row, and four of the past five.

The real question will be whether the sell-off continues next week, said Frank Fantozzi, CEO of Planned Financial Services. So far, the market's swoon this week appears to be more of an adjustment than the beginning of a long-term rout. "If the flow out of equities starts to increase, this might be the pullback we've been waiting for," he said. 

Many investors have been predicting some kind of pullback in the market following its nearly unbroken advance since last fall. The S&P 500 index rose for seven straight months through May. So far in June it's down 2.1 percent.

The yield on the 10-year Treasury note hit 2.54 percent, up from 2.42 percent late Thursday. It has risen sharply since Wednesday as investors sold bonds in anticipation that the Fed would slow, and eventually end, its bond purchases, if the U.S. recovery continues. 

The yield, which is a benchmark for interest rates on many kinds of loans including home mortgages, was as low as 1.63 percent as recently as May 3. 

Technology shares lagged the market after business software maker Oracle reported flat revenue late Thursday, even though analysts expected an increase. Oracle plunged $3.07, or 9 percent, to $30.14, the biggest drop in the S&P 500 index. Oracle is struggling to adapt as customers shift away from software installed on their own computers toward software that runs remotely.

The Nasdaq composite index, which is heavily weighted with technology stocks, fell 7.39 points, or 0.2 percent, to 3,357.25. Apple, the biggest stock in the index, fell $3.34, or 0.8 percent, to $413.50. Microsoft fell 23 cents, or 0.7 percent, to $33.27. 

The price of gold recovered after plunging the day before. Gold rose $5.80, or 0.5 percent, to $1,292 an ounce. Crude oil fell $1.45, or 1.5 percent, to $93.69 a barrel in New York.

The dollar rose against other currencies as traders anticipated that U.S. interest rates would rise as the Fed winds down its bond purchases. 

Among other stocks making big moves:

””Darden Restaurants, which runs Olive Garden and Red Lobster, fell $1.11, or 2 percent, to $50.12 after rising expenses hurt its fourth-quarter earnings.

”” Spreadtrum Communications jumped $3.62, or 16 percent, to $25.91 after the Chinese smartphone chip maker said its board is considering a buyout offer valued at about $1.39 billion from Tsinghua Holdings. 

”” Facebook rose 63 cents, or 2.6 percent, to $24.53 after saying it will add video to its popular photo-sharing app Instagram, following on the heels of Twitter's growing video-sharing app, Vine. 

A Fed policy statement and comments from Fed Chairman Ben Bernanke started the selling in stocks, bonds and commodities Wednesday. Bernanke said the Fed expects to scale back its bond-buying program later this year and end it by mid-2014 if the economy continues to improve. The bank has been buying Treasury and mortgage bonds, which has made borrowing cheap for consumers and businesses. The program has also encouraged investors to buy stocks instead of bonds. 

The S&P 500 is still up 11.7 percent, for the year, not far from its full-year increase of 13.4 percent last year.

4568


----------



## bigdog

Source: http://finance.yahoo.com 

More signs of distress in China's economy and rising bond yields led to a broad sell-off in stocks Monday, leaving the market down 5.7 percent from its all-time high last month.

It's the first pullback of 5 percent or more since November.

U.S. trading started with a slump Monday. The market recovered much of its loss, then fell back toward steeper losses again. By the close of trading the big stock indexes were clinging to modest gains for the second quarter. The last day of trading for the quarter is Friday.

Things were rough for stock investors in the morning. An overnight plunge in China caused by a spike in lending rates led to declines in Europe. China's Shanghai Composite Index fell 5 percent, its biggest decline in four years. The drop was prompted by a government crackdown on off-balance sheet lending, which made investors worry about China's economic growth. Then France's benchmark stock index fell 1.7 percent, Germany's 1.2 percent.

U.S. traders took one look at that and sold. The Dow Jones industrial average fell as much as 248 points in the first hour of trading. The yield on the 10-year Treasury note spiked to its highest in almost two years as the sell-off brought down prices of U.S. government debt. Gold and other metals also fell.

Stocks got closer to break-even around midday before falling again in the last hour. The Dow finished down 139.84 points, or 0.9 percent, at 14,659.56. The S&P 500 index fell 19.34 points, or 1.2 percent, to 1,573.09. The Nasdaq dropped 36.49 points, or 1.1 percent, to 3,320.76.

All 10 industry groups in the S&P 500 fell. The biggest drop was 1.8 percent for bank and financial stocks. Bank of America fell the most among major bank stocks, giving up 39 cents, or 3.1 percent, to $12.30.

Getting reliable information out of China is difficult, so it takes investors longer to decide how to react to developments there, said Gary Thayer, chief macro strategist for Wells Fargo Advisors.

The turbulence is also another a sign of how vulnerable financial markets remain to any comments from the Fed about its $85 billion in monthly bond purchases, which have kept interest rates at historic lows and helped drive the stock market's rally the last four years. On Wednesday and Thursday, the S&P plunged 3.9 percent after the central bank said its bond-buying program could wrap up by the middle of next year as long as economic conditions continue to improve. Stocks edged up Friday, but still had their worst week in two months.

"I think investors are overreacting to the prospects of a change in Fed policy," Thayer said. He noted that unemployment is down, inflation is low. "These are good economic conditions."

Gold fell $14.90, or 1.2 percent, to $1,277.10. Other metals were down, too. Crude oil rose $1.49, or 1.6 percent, to $95.18 per barrel. 

 *The NYSE DOW closed  	LOWER ▼	-139.84	points or ▼	-0.94%	Monday, 24 June 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,659.56	▼	-139.84	▼	-0.94%	
	Nasdaq___	3,320.76	▼	-36.49	▼	-1.09%	
	S&P_500__	1,573.09	▼	-19.34	▼	-1.21%	
	30_Yr_Bond	3.560	▼	-0.01	▼	-0.22%	

NYSE Volume	5,399,083,000			 		 	
Nasdaq Volume	1,986,131,880			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,029.10	▼	-130.41	▼	-2.12%	
	DAX_____	7,692.45	▼	-96.79	▼	-1.24%	
	CAC_40__	3,595.63	▼	-62.41	▼	-1.71%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,651.10	▼	-72.70	▼	-1.54%	
	Shanghai_Comp	1,963.24	▼	-109.86	▼	-5.30%	
	Taiwan_Weight	7,758.03	▼	-35.28	▼	-0.45%	
	Nikkei_225____	13,062.78	▼	-167.35	▼	-1.26%	
	Hang_Seng____	19,813.98	▼	-449.33	▼	-2.22%	
	Strait_Times___	3,074.31	▼	-50.14	▼	-1.60%	
	NZX_50_Index__	4,364.04	▲	0.98	▲	0.02%	

http://finance.yahoo.com/news/china-slump-higher-bond-yields-134723948.html

*China slump, higher bond yields weigh on markets

Wall Street recovers much of early loss caused by jitters over China plunge, higher US rates*

By Joshua Freed, AP Business Writer 

More signs of distress in China's economy and rising bond yields led to a broad sell-off in stocks Monday, leaving the market down 5.7 percent from its all-time high last month.

It's the first pullback of 5 percent or more since November.

U.S. trading started with a slump Monday. The market recovered much of its loss, then fell back toward steeper losses again. By the close of trading the big stock indexes were clinging to modest gains for the second quarter. The last day of trading for the quarter is Friday.

Things were rough for stock investors in the morning. An overnight plunge in China caused by a spike in lending rates led to declines in Europe. China's Shanghai Composite Index fell 5 percent, its biggest decline in four years. The drop was prompted by a government crackdown on off-balance sheet lending, which made investors worry about China's economic growth. Then France's benchmark stock index fell 1.7 percent, Germany's 1.2 percent.

U.S. traders took one look at that and sold. The Dow Jones industrial average fell as much as 248 points in the first hour of trading. The yield on the 10-year Treasury note spiked to its highest in almost two years as the sell-off brought down prices of U.S. government debt. Gold and other metals also fell.

Stocks got closer to break-even around midday before falling again in the last hour. The Dow finished down 139.84 points, or 0.9 percent, at 14,659.56. The S&P 500 index fell 19.34 points, or 1.2 percent, to 1,573.09. The Nasdaq dropped 36.49 points, or 1.1 percent, to 3,320.76.

All 10 industry groups in the S&P 500 fell. The biggest drop was 1.8 percent for bank and financial stocks. Bank of America fell the most among major bank stocks, giving up 39 cents, or 3.1 percent, to $12.30.

Getting reliable information out of China is difficult, so it takes investors longer to decide how to react to developments there, said Gary Thayer, chief macro strategist for Wells Fargo Advisors.

The turbulence is also another a sign of how vulnerable financial markets remain to any comments from the Fed about its $85 billion in monthly bond purchases, which have kept interest rates at historic lows and helped drive the stock market's rally the last four years. On Wednesday and Thursday, the S&P plunged 3.9 percent after the central bank said its bond-buying program could wrap up by the middle of next year as long as economic conditions continue to improve. Stocks edged up Friday, but still had their worst week in two months.

"I think investors are overreacting to the prospects of a change in Fed policy," Thayer said. He noted that unemployment is down, inflation is low. "These are good economic conditions."

Gold fell $14.90, or 1.2 percent, to $1,277.10. Other metals were down, too. Crude oil rose $1.49, or 1.6 percent, to $95.18 per barrel.

Pullbacks that occur during bull markets tend to be "nasty and brutish" ”” but short, said John Manley, chief equity strategist at Wells Fargo Funds Management. He said it's common to get declines of 3 percent to 7 percent "as the market restores a reverence to risk to the investing public."

The last time the U.S. stock market had a full-blown correction ”” defined as a drop of at least 10 percent from a peak ”” was July 22-Oct. 3, 2011, when the S&P 500 fell 18.3 percent. That fall was caused by concern that a fight between U.S. lawmakers over extending the debt ceiling would push the U.S. into default.

Since starting its bull run in March 2009, the S&P 500 has had six pullbacks of between 5 and 9 percent and two corrections. So far, the market has come back stronger from each setback. The S&P is still up 133 percent during this four-year bull market.

"Pullbacks are a natural occurrence in markets," said Janet Engels, senior vice president and director of the private client research group at RBC Wealth Management. "We likely have further to go."

The yield on the 10-year note rose slightly to 2.55 percent. Earlier in the day it was at 2.67, its highest level in almost two years. The yield has surged from its 2013 low of 1.63 percent on May 3. The increase accelerated last week after the Federal Reserve laid out the possible timetable for curtailing its bond-buying program. Yields rise when demand for bonds weakens.

The Fed's easy-money policies have kept bond yields and other interest rates artificially low since the financial crisis of 2008, making borrowing cheaper. The 10-year yield is used as a benchmark for many kinds of loans to individuals and businesses, including home mortgages.

The last time the yield was above 3 percent was late July, 2011. The last time it was consistently above 4 percent was July 2008, two months before the peak of the financial crisis.

Other stocks with big moves included:

”” PulteGroup slumped 50 cents, or 2.7 percent, to $18.31. Investors have worried that higher U.S. interest rates will hurt homebuilding companies by making mortgages more expensive.

”” Tenet Healthcare rose $1.88, or 4.5 percent, to $43.73 after offering to buy Vanguard Health Systems Inc. for $1.8 billion. The offer of $21 per share pushed Vanguard stock up $8.33, or 67 percent, to $20.70.

”” Facebook fell 60 cents, or 2.4 percent, to $23.93. Monday was the first full trading day after Facebook acknowledged it had accidentally exposed contact information for 6 million users to some other users.

”” Apple fell $10.96, or 2.7 percent, to $402.50 after an analyst said the company appears to have cut back iPhone production. The company didn't have any immediate comment.


----------



## bigdog

Source: http://finance.yahoo.com 

Wall Street got back to focusing on the economy instead of the Federal Reserve on Tuesday, sending stocks higher.

Four reports showed a brightening U.S. economy. Housing and manufacturing continued to improve, and consumer confidence hit its highest level in 5 1/2 years.

The major U.S. stock indexes closed higher, with the Dow Jones industrial average shooting up 100.75 points, or 0.7 percent, to 14,760.31. The Standard & Poor's index rose 14.94 points, or 1 percent, to 1,588.03.

The triple-digit rise in the Dow continues a bout of market volatility caused by investors and traders who are worried about the Fed ending its economic stimulus. Last Wednesday, Fed Chairman Ben Bernanke said he expects the Fed to end its bond buying by the middle of 2014 if it feels the economy can manage without that stimulus.

The Dow then plunged by triple digits on three of the next four trading days, with investors worried that the market would struggle without the Fed propping it up.

Some investors have concluded that the recent sell-offs were overblown. Quincy Krosby, a market strategist at Prudential Financial, guessed that shorter-term traders were the ones buying stocks Tuesday because they judged that parts of the market were "oversold."

Long-term investors are likely still sitting on the sidelines, waiting for further signs that markets are becoming less volatile, she said.

Among the biggest gainers were big dividend payers like phone and power companies. These are stocks that have been hit the hardest by the recent sell-off. 

Ben Schwartz, chief market strategist at Lightspeed Financial in Chicago, described Tuesday as a day for the market to stabilize after the recent big plunges. But he predicted that the market could be volatile for the rest of the year, and others said they thought the stock indexes had already reached their high points.

The fact that the second quarter ends on Friday will also likely complicate the market's performance this week. Money managers may pull out because they need to book gains for clients.

The stronger economic news for the U.S. led investors to sell U.S. government bonds, a sign that they're more comfortable putting money in stocks. The yield on the 10-year Treasury note, a benchmark for many types of loans, rose to 2.6 percent from 2.54 percent late Monday. That's part of a longer-term trend: Investors have been selling bonds in anticipation of the Fed winding down its bond-buying program. 

 *The NYSE DOW closed  	HIGHER ▲	100.75	points or ▲	0.69%	Tuesday, 25 June 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,760.31	▲	100.75	▲	0.69%	
	Nasdaq___	3,347.89	▲	27.13	▲	0.82%	
	S&P_500__	1,588.03	▲	14.94	▲	0.95%	
	30_Yr_Bond	3.610	▲	0.05	▲	1.49%	

NYSE Volume	4,218,977,000			 		 	
Nasdaq Volume	1,625,099,500			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,101.91	▲	72.81	▲	1.21%	
	DAX_____	7,811.30	▲	118.85	▲	1.55%	
	CAC_40__	3,649.82	▲	54.19	▲	1.51%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,633.50	▼	-17.60	▼	-0.38%	
	Shanghai_Comp	1,959.51	▼	-3.73	▼	-0.19%	
	Taiwan_Weight	7,663.23	▼	-94.80	▼	-1.22%	
	Nikkei_225____	12,969.34	▼	-93.44	▼	-0.72%	
	Hang_Seng____	19,855.72	▲	41.74	▲	0.21%	
	Strait_Times___	3,089.93	▲	15.62	▲	0.51%	
	NZX_50_Index__	4,316.99	▼	-47.05	▼	-1.08%	

http://finance.yahoo.com/news/market-rises-less-fed-chatter-192631153.html

*Market rises: less on Fed chatter, more on economy

Stocks push higher, helped by economy, not Fed guessing; home prices, consumer confidence up*

By Christina Rexrode, AP Business Writer

Wall Street got back to focusing on the economy instead of the Federal Reserve on Tuesday, sending stocks higher.

Four reports showed a brightening U.S. economy. Housing and manufacturing continued to improve, and consumer confidence hit its highest level in 5 1/2 years.

The major U.S. stock indexes closed higher, with the Dow Jones industrial average shooting up 100.75 points, or 0.7 percent, to 14,760.31. The Standard & Poor's index rose 14.94 points, or 1 percent, to 1,588.03.

The triple-digit rise in the Dow continues a bout of market volatility caused by investors and traders who are worried about the Fed ending its economic stimulus. Last Wednesday, Fed Chairman Ben Bernanke said he expects the Fed to end its bond buying by the middle of 2014 if it feels the economy can manage without that stimulus.

The Dow then plunged by triple digits on three of the next four trading days, with investors worried that the market would struggle without the Fed propping it up.

Some investors have concluded that the recent sell-offs were overblown. Quincy Krosby, a market strategist at Prudential Financial, guessed that shorter-term traders were the ones buying stocks Tuesday because they judged that parts of the market were "oversold."

Long-term investors are likely still sitting on the sidelines, waiting for further signs that markets are becoming less volatile, she said.

Among the biggest gainers were big dividend payers like phone and power companies. These are stocks that have been hit the hardest by the recent sell-off.

The big economic reports Tuesday revealed:

””Orders for durable goods rose 3.6 percent in May, matching April's gain. The gauge is important because U.S. manufacturing has generally struggled this year as demand for American exports slows in other parts of the world.

””Home prices rose 2.5 percent in April compared with March, the biggest month-over-month gain since 2000, according to the S&P/Case-Shiller index of 20 cities.

”” The Conference Board's consumer confidence index jumped to 81.4 in June, the best reading since January 2008. The May reading, however, was revised down to 74.3 from the original estimate of 76.2.

”” Sales of new homes rose in May to a seasonally adjusted annual rate of 476,000, the Commerce Department said. That was the fastest pace since July 2008. Though sales of new homes remain below the 700,000 annual rate that most economists consider healthy, the pace has jumped 29 percent from a year ago.

Ben Schwartz, chief market strategist at Lightspeed Financial in Chicago, described Tuesday as a day for the market to stabilize after the recent big plunges. But he predicted that the market could be volatile for the rest of the year, and others said they thought the stock indexes had already reached their high points.

The fact that the second quarter ends on Friday will also likely complicate the market's performance this week. Money managers may pull out because they need to book gains for clients.

The stronger economic news for the U.S. led investors to sell U.S. government bonds, a sign that they're more comfortable putting money in stocks. The yield on the 10-year Treasury note, a benchmark for many types of loans, rose to 2.6 percent from 2.54 percent late Monday. That's part of a longer-term trend: Investors have been selling bonds in anticipation of the Fed winding down its bond-buying program.

The price of gold slipped $2 to $1,275.10 an ounce, and the price of crude oil rose 14 cents to $95.32 a barrel.

Among stocks making big moves:

””Walgreen, the nation's largest drugstore chain, slipped after reporting earnings and revenue that missed analysts' expectations. Walgreen's stock fell $2.83, or nearly 6 percent, to $45.22.

””Barnes & Noble plunged after reporting a loss that more than doubled in the latest quarter. The bookseller struggled to compete with online retailers and its Nook e-book continued to lose money. The stock fell $3.21, or more than 17 percent, to $15.61.

””Clothing chain Men's Wearhouse rose after saying it had fired executive chairman George Zimmer, the company's founder and star of its TV commercials, because he had advocated for "significant changes that would enable him to regain control," according to the company. The stock rose $2, or nearly 6 percent, to $37.13.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market is focusing on the positive.

Major stock indexes rose for a second day on Wednesday. It was the first two-day stretch of gains since the Federal Reserve gave a timetable for throttling back its economic stimulus a week ago.

Even news that the economy grew at a much slower annual rate in the first quarter than previously estimated ”” 1.8 percent versus 2.4 percent ”” didn't dampen the buying. In fact, it persuaded some traders that the Fed could extend its easy money policies beyond next year. That would likely be a boon for the economy and the stock market.

The market's gains were decisive. The Dow Jones industrial average jumped 149.83 points, or 1 percent, 14,910.14. All 10 sectors in the Standard & Poor's 500 index were higher, led by health care and utilities. 

Investors also seemed to realize that they dumped too many stocks last week, when they panicked after the Fed outlined plans on how it might eventually end its stimulus measures. 

"The sell-off was a little bit overdone," said David Coard, head of fixed-income sales and trading at Williams Capital Group in New York. "Sometimes you've got to take a breather." 

The Standard & Poor's 500 rose 15.23, or 1 percent, to 1,603.26. The Nasdaq composite index gained 28.34, or 0.9 percent, to 3,376.22.

The yield on the 10-year Treasury note fell for the first time since June 14, slipping to 2.54 percent from 2.61 percent.

The price of gold plunged $45.30, or 3.6 percent, to $1,229.80 an ounce, its lowest price in three years. The reasons for the sell-off weren't entirely clear. Investors tend to buy gold when they're looking for a safe place to put money. Wednesday, they did that by buying stocks in dividend-rich, stable sectors ”” such as utilities ”” as well as government bonds.

The markets have been volatile for weeks, ever since Fed Chairman Ben Bernanke started hinting that a pullback in Fed stimulus programs would start soon. In the last 25 trading days, the Dow has ricocheted through 17 triple-digit swings, split almost evenly between ups and downs.

Still, some investors were already turning their attention away from the Fed and back toward company earnings. There they saw reason for caution, not optimism.

Analysts expect earnings to grow about 3 percent, though that is down from estimates as high as 15 percent a year ago, according to S&P Capital IQ. Revenue is expected to fall by 0.3 percent.

"We're not seeing any significant bottom-line growth," said Chip Cobb, senior vice president of BMT Asset Management in Bryn Mawr, Penn. "It's all been cost-cutting measures."

Chris Baggini, senior portfolio manager at Turner Investments in Berwyn, Penn., pointed out that the stocks that performed best are the kind that investors tend to buy when they're nervous about the economy.

Investors are "buying bonds and bond-like stocks," Baggini said.

Friday is the last trading day for the second quarter, which could also make the market's moves erratic. Money managers will be looking to get out of their holdings and book profits for clients before then. 

 *The NYSE DOW closed  	HIGHER ▲	149.83	points or ▲	1.02%	Wednesday, 26 June 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,910.14	▲	149.83	▲	1.02%	
	Nasdaq___	3,376.22	▲	28.34	▲	0.85%	
	S&P_500__	1,603.26	▲	15.23	▲	0.96%	
	30_Yr_Bond	3.570	▼	-0.04	▼	-1.05%	

NYSE Volume	3,977,487,500			 		 	
Nasdaq Volume	1,640,446,500			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,165.48	▲	63.57	▲	1.04%	
	DAX_____	7,940.99	▲	129.69	▲	1.66%	
	CAC_40__	3,726.04	▲	76.22	▲	2.09%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,707.80	▲	74.30	▲	1.60%	
	Shanghai_Comp	1,951.50	▼	-8.01	▼	-0.41%	
	Taiwan_Weight	7,784.80	▲	121.57	▲	1.59%	
	Nikkei_225____	12,834.01	▼	-135.33	▼	-1.04%	
	Hang_Seng____	20,338.55	▲	482.83	▲	2.43%	
	Strait_Times___	3,104.40	▲	14.47	▲	0.47%	
	NZX_50_Index__	4,393.61	▲	76.61	▲	1.77%	

http://finance.yahoo.com/news/traders-breather-buying-stocks-bonds-203942038.html

*Traders 'take a breather,' buying stocks and bonds

Stocks move higher as investors reassess just what the Fed meant; buying up bonds as well*

By Christina Rexrode, AP Business Writer

The stock market is focusing on the positive.

Major stock indexes rose for a second day on Wednesday. It was the first two-day stretch of gains since the Federal Reserve gave a timetable for throttling back its economic stimulus a week ago.

Even news that the economy grew at a much slower annual rate in the first quarter than previously estimated ”” 1.8 percent versus 2.4 percent ”” didn't dampen the buying. In fact, it persuaded some traders that the Fed could extend its easy money policies beyond next year. That would likely be a boon for the economy and the stock market.

The market's gains were decisive. The Dow Jones industrial average jumped 149.83 points, or 1 percent, 14,910.14. All 10 sectors in the Standard & Poor's 500 index were higher, led by health care and utilities. 

Investors also seemed to realize that they dumped too many stocks last week, when they panicked after the Fed outlined plans on how it might eventually end its stimulus measures. 

"The sell-off was a little bit overdone," said David Coard, head of fixed-income sales and trading at Williams Capital Group in New York. "Sometimes you've got to take a breather." 

The Standard & Poor's 500 rose 15.23, or 1 percent, to 1,603.26. The Nasdaq composite index gained 28.34, or 0.9 percent, to 3,376.22.

The yield on the 10-year Treasury note fell for the first time since June 14, slipping to 2.54 percent from 2.61 percent.

The price of gold plunged $45.30, or 3.6 percent, to $1,229.80 an ounce, its lowest price in three years. The reasons for the sell-off weren't entirely clear. Investors tend to buy gold when they're looking for a safe place to put money. Wednesday, they did that by buying stocks in dividend-rich, stable sectors ”” such as utilities ”” as well as government bonds.

The markets have been volatile for weeks, ever since Fed Chairman Ben Bernanke started hinting that a pullback in Fed stimulus programs would start soon. In the last 25 trading days, the Dow has ricocheted through 17 triple-digit swings, split almost evenly between ups and downs.

Still, some investors were already turning their attention away from the Fed and back toward company earnings. There they saw reason for caution, not optimism.

Analysts expect earnings to grow about 3 percent, though that is down from estimates as high as 15 percent a year ago, according to S&P Capital IQ. Revenue is expected to fall by 0.3 percent.

"We're not seeing any significant bottom-line growth," said Chip Cobb, senior vice president of BMT Asset Management in Bryn Mawr, Penn. "It's all been cost-cutting measures."

Chris Baggini, senior portfolio manager at Turner Investments in Berwyn, Penn., pointed out that the stocks that performed best are the kind that investors tend to buy when they're nervous about the economy.

Investors are "buying bonds and bond-like stocks," Baggini said.

Friday is the last trading day for the second quarter, which could also make the market's moves erratic. Money managers will be looking to get out of their holdings and book profits for clients before then.

Among companies making big moves:

””Gun manufacturer Smith & Wesson fell after its quarterly revenue missed analysts' forecasts. The stock slipped 21 cents, or 2.1 percent, to $9.78.

””Uniform company UniFirst fell after quarterly revenue missed analysts' expectations. Shares dipped $5.43, or 5.7 percent, to $90.22

””Adobe, maker of Photoshop, rose after a Jefferies analyst upgraded the stock to "Buy" from "Hold," praising its shift to an online, subscription-based model. The stock rose $1.31, or 3 percent, to $45.68.


----------



## bigdog

Source: http://finance.yahoo.com 

Good news on jobs and consumer spending pushed stocks higher again Thursday.

The Dow Jones industrial average and the Standard & Poor's 500 index rose for a third straight day. Yields on Treasury securities fell for a second day, easing worries that a sudden spike in interest rates could hurt the economy. 

Consumer spending rose 0.3 percent last month and incomes increased 0.5 percent, the most in three months, the government reported. The number of Americans seeking unemployment benefits fell 9,000 to 346,000 last week. The report added to evidence that the job market is improving modestly.

Stocks have rallied this week as investors took advantage of lower prices after a sell-off last week that erased 560 points from the Dow over Wednesday and Thursday. The market swooned after Federal Reserve Chairman Ben Bernanke said that the central bank could cut back on its stimulus later this year and possibly end it next year, if the economy continued to improve.

Even with the gains this week the index is still 293 points below where it was June 18, the day before the Fed laid out its plans for how it might wind down its stimulus.

The central bank is buying $85 billion in bonds every month to hold down long-term interest rates and encourage borrowing and spending. Fed stimulus has underpinned a stock market rally that started in March 2009 by encouraging investors to put money into risky assets.

"What's driving that market up is that people are realizing that they are in a 'win-win' situation," said Rick Robinson, a regional Chief Investment Officer at Wells Fargo Private Bank. "If you have good economic data that should be good for stocks, if you have poor economic data ... that means the Fed will probably have its (stimulus) longer."

The Dow closed up 114.35 points, or 0.8 percent, to 15,024.49. The S&P 500 index climbed 9.94 points, or 0.6 percent, to 1,613.20.

Nine of the 10 industry groups in the S&P 500 rose, led by financial stocks. Banks and insurers listed in the S&P 500 have gained 4 percent in the last three days. Materials companies were the only group that fell.

The Nasdaq composite rose 25.64 points, or 0.8 percent, to 3,401.86.

In a sign that investors were once again more confident in holding riskier assets, the Russell 2000 index of small-company stocks rose 16.09 points, or 1.7 percent, to 979.92, more than twice as much as other major indexes.

The yield on the 10-year Treasury note fell to 2.47 percent from 2.54 percent late Wednesday. The yield climbed as high 2.66 percent on Monday, the highest since August 2011. The rate has surged since May 3, when it touched its low for the year of 1.63 percent. 

 *The NYSE DOW closed  	HIGHER ▲	114.35	points or ▲	0.77%	Thursday, 27 June 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,024.49	▲	114.35	▲	0.77%	
	Nasdaq___	3,401.86	▲	25.64	▲	0.76%	
	S&P_500__	1,613.20	▲	9.94	▲	0.62%	
	30_Yr_Bond	3.550	▼	-0.03	▼	-0.76%	

NYSE Volume	3,766,042,500			 		 	
Nasdaq Volume	1,657,103,880			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,243.40	▲	77.92	▲	1.26%	
	DAX_____	7,990.75	▲	49.76	▲	0.63%	
	CAC_40__	3,762.19	▲	36.15	▲	0.97%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,784.80	▲	77.00	▲	1.64%	
	Shanghai_Comp	1,950.01	▼	-1.48	▼	-0.08%	
	Taiwan_Weight	7,883.90	▲	99.10	▲	1.27%	
	Nikkei_225____	13,213.55	▲	379.54	▲	2.96%	
	Hang_Seng____	20,440.08	▲	101.53	▲	0.50%	
	Strait_Times___	3,118.03	▲	13.63	▲	0.44%	
	NZX_50_Index__	4,416.96	▲	23.35	▲	0.53%	

http://finance.yahoo.com/news/stock...lvbnMEdGVzdANIUl9Tb2NpYWxfTGlnaHRib3g-;_ylv=3

*Stocks gain on encouraging news about the economy

Stocks rise on better news about spending and jobs; Dow has third straight triple-digit gain*

By Steve Rothwell, AP Markets Writer

Good news on jobs and consumer spending pushed stocks higher again Thursday.

The Dow Jones industrial average and the Standard & Poor's 500 index rose for a third straight day. Yields on Treasury securities fell for a second day, easing worries that a sudden spike in interest rates could hurt the economy. 

Consumer spending rose 0.3 percent last month and incomes increased 0.5 percent, the most in three months, the government reported. The number of Americans seeking unemployment benefits fell 9,000 to 346,000 last week. The report added to evidence that the job market is improving modestly.

Stocks have rallied this week as investors took advantage of lower prices after a sell-off last week that erased 560 points from the Dow over Wednesday and Thursday. The market swooned after Federal Reserve Chairman Ben Bernanke said that the central bank could cut back on its stimulus later this year and possibly end it next year, if the economy continued to improve.

Even with the gains this week the index is still 293 points below where it was June 18, the day before the Fed laid out its plans for how it might wind down its stimulus.

The central bank is buying $85 billion in bonds every month to hold down long-term interest rates and encourage borrowing and spending. Fed stimulus has underpinned a stock market rally that started in March 2009 by encouraging investors to put money into risky assets.

"What's driving that market up is that people are realizing that they are in a 'win-win' situation," said Rick Robinson, a regional Chief Investment Officer at Wells Fargo Private Bank. "If you have good economic data that should be good for stocks, if you have poor economic data ... that means the Fed will probably have its (stimulus) longer."

The Dow closed up 114.35 points, or 0.8 percent, to 15,024.49. The S&P 500 index climbed 9.94 points, or 0.6 percent, to 1,613.20.

Nine of the 10 industry groups in the S&P 500 rose, led by financial stocks. Banks and insurers listed in the S&P 500 have gained 4 percent in the last three days. Materials companies were the only group that fell.

The Nasdaq composite rose 25.64 points, or 0.8 percent, to 3,401.86.

In a sign that investors were once again more confident in holding riskier assets, the Russell 2000 index of small-company stocks rose 16.09 points, or 1.7 percent, to 979.92, more than twice as much as other major indexes.

The yield on the 10-year Treasury note fell to 2.47 percent from 2.54 percent late Wednesday. The yield climbed as high 2.66 percent on Monday, the highest since August 2011. The rate has surged since May 3, when it touched its low for the year of 1.63 percent.

Investors who have added bonds to their portfolios at the expense of stocks should consider selling some because yields are likely to rise further, said Doug Cote, chief market strategist at ING Investment Management. When yields rise, the value of bonds falls.

Bonds rose in value from 2007 until the middle of last year. The yield on the 10-year Treasury note fell to a record low of 1.39 percent last July.

"For the first time in five years, equities are the safest asset class," Cote said.

Higher yields on Treasury bonds translate into higher borrowing costs on many kinds of loans including home mortgages. Average U.S. rates on fixed mortgages surged this week to their highest levels in two years. Mortgage buyer Freddie Mac said Thursday that the average rate on a 30-year mortgage jumped to 4.46 percent. That's up from 3.93 percent last week and the highest since July 2011.

The average rate on a 15-year fixed mortgage, a popular refinancing instrument, soared this week to 3.50 percent ”” its highest point since August 2011 ”” from 3.04 percent last week.

Homebuilders got a lift from a report Thursday suggesting that the housing recovery remains intact. The number of people who signed contracts in May to buy a home jumped to the highest level in more than six years. D.R. Horton rose 79 cents, or 3.8 percent, to $21.71. Lennar gained $1.37 cents, or 3.8 percent, to $37.38.

Investors were also encouraged by comments from key Fed officials. The president of the New York branch of the Federal Reserve said the central bank would likely keep buying bonds if the economy failed to grow at the pace the Fed was expecting. 

"If labor market conditions and the economy's growth momentum were to be less favorable than in the (Fed's) outlook ”” and this is what has happened in recent years ”” I would expect that the asset purchases would continue at a higher pace for longer," William Dudley said at a news conference in New York.

That message was reinforced by two other Fed officials Thursday. Jerome Powell, a member of the Fed's board in Washington, said investors appear to have incorrectly concluded that the Fed will taper its purchases soon. Dennis Lockhart, president of the Fed's Atlanta branch, said that the pace of purchases still depended on "how economic conditions evolve."

While the S&P 500 index is on track to record its first monthly loss since October, the index is still poised to end June with the best first half of a year since 1998, when it rose 17.7 percent. The index has gained 13.2 percent so far this year.

The market will likely remain volatile though the second half of the year as investors assess when the Fed will end its stimulus, said Kate Warne, investment strategist at retail brokerage firm Edward Jones. 

"The general outlook for the economy is solid," Warne said. "The trend in stock prices is likely to continue to be higher, even though we'll see a lot more zig-zagging as everyone debates the timing of the Fed's next move."

The price of gold fell $18.20, or 1.5 percent, to $1,211.60 an ounce, following a 3.6 percent slump Wednesday. It traded below $1,200 for the first time since August 2010. Gold has dropped 28 percent this year as Treasury yields have risen and the dollar has strengthened, diminishing gold's appeal as an alternative investment.

Crude oil rose $1.55, or 1.6 percent, to $97.05 a barrel. The dollar fell against the euro and the Japanese yen.

Among stocks making big moves:

”” ConAgra Foods rose $1.69, or 5.1 percent, to $35.04 after the company posted a quarterly profit that came in a penny above the forecasts of Wall Street analysts. The maker of Chef Boyardee, Hebrew National and other packaged foods benefited from acquisitions and price cuts that helped increase sales.

””Payroll processor Paychex fell $1.39, or 3.7 percent, to $36.60 after posting earnings that fell short of analysts' expectations. The company said profit for the three months through May 31 came in roughly flat at 34 cents per share. Analysts had expected earnings of 37 cents a share.


----------



## bigdog

Source: http://finance.yahoo.com 

Given the wild trading of late, it was a calm close to the month.

After flitting between tiny gains and losses most of Friday, the stock market closed mostly lower, a peaceful end to the most volatile month in nearly two years. 

"It's a dull Friday," said Gary Flam, a stock manager at Bel Air Investment Advisors. A bull market, he added, is "rarely a straight march up." 

The Standard & Poor's 500 index ended its bumpy ride in June down 1.5 percent, the first monthly loss since October. The index still had its best first half of a year since 1998. 

Investors seemed unsure how to react to recent statements by Federal Reserve officials about when the central bank might end its support for the economy. Mixed economic news Friday added to investor uncertainty after big stock gains. 

On Friday, an index consumer confidence was up but a gauge of business activity in the Chicago area plunged.

"Investors don't know what to make of the news," said John Toohey, vice president of stock investments at USAA Investment Management. "I wouldn't be surprised to see more ups and downs." 

The S&P 500 stock index closed down 6.92 points, or 0.4 percent, to 1,606.28. The Dow Jones industrial average fell 114.89 points, or 0.8 percent, to 14,909.60. The Nasdaq composite index rose 1.38 points, or 0.04 percent, to 3,403.25. 

Stocks have jumped around in June. By contrast, the first five months of the year were mostly calm, marked by small but steady gains as investors bought on news of higher home prices, record corporate earnings and an improving jobs market.

By May 21, the S&P 500 had climbed to a record 1,669, up 18 percent for the year. Fed Chairman Ben Bernanke spoke the next day, and prices began gyrating. 

Investors have long known that the central bank would eventually pull back from its bond purchases, which are designed to lower interest rates and get people to borrow and spend more. Last week, Bernanke got more specific about the timing. He said the Fed could start purchasing fewer bonds later this year, and stop buying them completely by the middle of next year, if the economy continued to strengthen. 

Investors dumped stocks, but then had second thoughts this week as other Fed officials stressed that the central bank wouldn't pull back on its support soon. The Dow gained 365 points over the previous three days this week. The Dow has had 16 triple-digit moves for the month, the most since September 2011. 

Bonds have also been on a bumpy ride in recent weeks, mostly down. 

 *The NYSE DOW closed  	LOWER ▼	-114.89	points or ▼	-0.76%	Friday, 28 June 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,909.60	▼	-114.89	▼	-0.76%	
	Nasdaq___	3,403.25	▲	1.38	▲	0.04%	
	S&P_500__	1,606.28	▼	-6.92	▼	-0.43%	
	30_Yr_Bond	3.500	▼	-0.05	▼	-1.38%	

NYSE Volume	5,433,570,500			 		 	
Nasdaq Volume	3,590,460,250			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,215.47	▼	-27.93	▼	-0.45%	
	DAX_____	7,959.22	▼	-31.53	▼	-0.39%	
	CAC_40__	3,738.91	▼	-23.28	▼	-0.62%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,775.40	▼	-9.40	▼	-0.20%	
	Shanghai_Comp	1,979.21	▲	29.19	▲	1.50%	
	Taiwan_Weight	8,062.21	▲	178.31	▲	2.26%	
	Nikkei_225____	13,677.32	▲	463.77	▲	3.51%	
	Hang_Seng____	20,803.29	▲	363.21	▲	1.78%	
	Strait_Times___	3,150.44	▲	32.41	▲	1.04%	
	NZX_50_Index__	4,440.17	▲	23.21	▲	0.53%	

http://finance.yahoo.com/news/us-stocks-fall-quiet-end-205627315.html

*US stocks fall in quiet end to a bumpy month

Stocks fall at end of volatile month but still up big for half-year; BlackBerry maker plunges*

By Bernard Condon, AP Business Writer

Given the wild trading of late, it was a calm close to the month.

After flitting between tiny gains and losses most of Friday, the stock market closed mostly lower, a peaceful end to the most volatile month in nearly two years. 

"It's a dull Friday," said Gary Flam, a stock manager at Bel Air Investment Advisors. A bull market, he added, is "rarely a straight march up." 

The Standard & Poor's 500 index ended its bumpy ride in June down 1.5 percent, the first monthly loss since October. The index still had its best first half of a year since 1998. 

Investors seemed unsure how to react to recent statements by Federal Reserve officials about when the central bank might end its support for the economy. Mixed economic news Friday added to investor uncertainty after big stock gains. 

On Friday, an index consumer confidence was up but a gauge of business activity in the Chicago area plunged.

"Investors don't know what to make of the news," said John Toohey, vice president of stock investments at USAA Investment Management. "I wouldn't be surprised to see more ups and downs." 

The S&P 500 stock index closed down 6.92 points, or 0.4 percent, to 1,606.28. The Dow Jones industrial average fell 114.89 points, or 0.8 percent, to 14,909.60. The Nasdaq composite index rose 1.38 points, or 0.04 percent, to 3,403.25. 

Stocks have jumped around in June. By contrast, the first five months of the year were mostly calm, marked by small but steady gains as investors bought on news of higher home prices, record corporate earnings and an improving jobs market.

By May 21, the S&P 500 had climbed to a record 1,669, up 18 percent for the year. Fed Chairman Ben Bernanke spoke the next day, and prices began gyrating. 

Investors have long known that the central bank would eventually pull back from its bond purchases, which are designed to lower interest rates and get people to borrow and spend more. Last week, Bernanke got more specific about the timing. He said the Fed could start purchasing fewer bonds later this year, and stop buying them completely by the middle of next year, if the economy continued to strengthen. 

Investors dumped stocks, but then had second thoughts this week as other Fed officials stressed that the central bank wouldn't pull back on its support soon. The Dow gained 365 points over the previous three days this week. The Dow has had 16 triple-digit moves for the month, the most since September 2011. 

Bonds have also been on a bumpy ride in recent weeks, mostly down.

The prospect of fewer purchases by the Fed sent investors fleeing from all sorts of bonds ”” municipals, U.S. Treasury securities, corporate bonds, foreign government debt and high-yield bonds. Investors pulled a record $23 billion from bond mutual funds in the five trading days ended Wednesday, according to Bank of America Merrill Lynch. 

Bond yields, which move in the opposite direction of bond prices, have rocketed.

The yield on the 10-year Treasury note rose to 2.49 percent from 2.47 percent late Thursday. Last month, the yield was as low as 1.63 percent. Treasury yields help set borrowing costs for a large range of consumer and business loans.

It's been a rocky month in foreign markets, too. Major indexes in France, Germany and Britain have lost about 5 percent in June.

In U.S. economic news Friday, the University of Michigan said its index of consumer sentiment dipped to 84.1 in June from 84.5 the previous month. But that was still relatively high. May's reading was the highest since July 2007. 

Meanwhile, the Chicago Business Barometer sank to 51.6 from a 14-month high of 58.7 in May. That was well below the level of 55 that economists polled by FactSet were expecting. 

Bill Strazzullo, chief strategist of Bell Curve Trading, is worried stock investors will sell on any signs the Fed is slowing down its economic stimulus program. 

"This rally is still very much being supported by monetary easing by central banks," he said. He added, referring to Friday's quiet trading: "It's the calm before the storm."

Eight of the 10 industry groups in the S&P 500 were down for the day, led by health care companies. They fell 0.9 percent.

In commodities trading, gold gained $12.10 to $1,223.70 an ounce. The price of crude oil fell 49 cents to $96.56 a barrel. The dollar rose against the euro and the Japanese yen.

Among stocks making big moves:

”” BlackBerry maker Research In Motion plunged $4.02, or 28 percent, to $10.46 after the company posted a surprise loss in the first quarter and warned of future losses despite releasing its new line of smartphones this year. The company also discontinued making new versions of its slow-selling tablet device, The Playbook. 

”” Accenture fell $8.26, or 10 percent, to $71.96. The consulting firm cut its revenue and profit outlook for its fiscal year ending in August. Revenue was hurt by lower demand in Europe as well as its communications, media and technology division.

”” Hospira rose $2.16, or 6 percent, to $38.31. The drug company said it had received a positive opinion from a European drug regulator for a drug to treat rheumatoid arthritis, among other illnesses. A final decision could come three months.

5087


----------



## bigdog

Source: http://finance.yahoo.com 

Investors have stopped worrying about the Federal Reserve. At least for now.

Stocks rose on Wall Street Monday as investors judged that the economy still isn't growing fast enough for the central bank to cut back on its stimulus program. 

U.S. manufacturing grew modestly in June after a pickup in new orders and stronger production, according to a private survey. The Institute for Supply Management said its factory index increased to 50.9 in June from 49 in the previous month.

The Standard & Poor's 500 index logged its first monthly decline since October last month after investors were unsettled by comments from Federal Reserve Chairman Ben Bernanke. Bernanke said last month that the Fed could ease back on its stimulus later this year and end it next year, providing the economy continues to recover.

"The market has ... stepped back from the knee-jerk reaction that the Fed news provided," said Jim Russell, a regional investment director at US Bank. "The manufacturing ISM number came in strong enough ”” not too hot, not too cold." 

If the manufacturing report had been stronger, Russell said, stocks might have fallen as investors speculated that the Fed would be inclined to ease back on its stimulus sooner.

A separate report on construction spending added to the picture of a gradually improving economy. Construction spending rose 0.5 percent in May compared with April, when spending was up 0.1 percent.

The Dow Jones industrial average gained 65.36 points, or 0.4 percent, to 14,974. The Dow gained as much as 173 points in during morning trading before drifting lower throughout the afternoon.

The S&P 500 index rose 8.68 points, or 0.54 percent, to 1,614. The Nasdaq composite rose 31.24 points, or 0.9 percent, to 3,434.

The Fed is currently buying $85 billion of bonds a month to keep interest rates low and encourage borrowing and spending. That stimulus has been a major factor supporting a rally in stocks this year and the threat of it being withdrawn made stock markets more volatile last month.

The S&P 500 closed at a record high of 1,669 on May 21. A day later, stocks began dropping after minutes of a Fed meeting were released suggesting the stimulus could be scaled back. The sell-off picked up pace June 19, when Bernanke laid out a possible road map for ending the bond purchases.

The S&P closed at 1,573 on June 24, almost 6 percent down from its record, before regaining some of its loss. The index is still up 13.2 percent this year.

The market is more than twice as likely to gain as decline on the first trading day of a new quarter, according to data from S&P Dow Jones Indices. The index has risen 27 times and fallen 13 times during the past 10 years on the first trading day of the quarter. 

 *The NYSE DOW closed  	HIGHER ▲	65.36	points or ▲	0.44%	Monday, 1 July 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,974.96	▲	65.36	▲	0.44%	
	Nasdaq___	3,434.49	▲	31.24	▲	0.92%	
	S&P_500__	1,614.96	▲	8.68	▲	0.54%	
	30_Yr_Bond	3.490	▼	-0.01	▼	-0.26%	

NYSE Volume	3,525,776,750			 		 	
Nasdaq Volume	1,572,239,500			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,307.78	▲	64.38	▲	1.03%	
	DAX_____	7,983.92	▲	24.70	▲	0.31%	
	CAC_40__	3,767.48	▲	28.57	▲	0.76%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,689.70	▼	-85.70	▼	-1.79%	
	Shanghai_Comp	1,995.24	▲	16.04	▲	0.81%	
	Taiwan_Weight	8,036.00	▼	-26.21	▼	-0.33%	
	Nikkei_225____	13,852.50	▲	175.18	▲	1.28%	
	Hang_Seng____	20,803.29	▲	363.21	▲	1.78%	
	Strait_Times___	3,140.93	▼	-9.51	▼	-0.30%	
	NZX_50_Index__	4,418.05	▼	-22.12	▼	-0.50%	

http://finance.yahoo.com/news/us-stocks-advance-stimulus-concerns-144725940.html

*US stocks advance as stimulus concerns fade

Stocks advance on Wall Street as concerns ease of a sudden reduction in Fed stimulus*

By Steve Rothwell, AP Markets Writer 

Investors have stopped worrying about the Federal Reserve. At least for now.

Stocks rose on Wall Street Monday as investors judged that the economy still isn't growing fast enough for the central bank to cut back on its stimulus program. 

U.S. manufacturing grew modestly in June after a pickup in new orders and stronger production, according to a private survey. The Institute for Supply Management said its factory index increased to 50.9 in June from 49 in the previous month.

The Standard & Poor's 500 index logged its first monthly decline since October last month after investors were unsettled by comments from Federal Reserve Chairman Ben Bernanke. Bernanke said last month that the Fed could ease back on its stimulus later this year and end it next year, providing the economy continues to recover.

"The market has ... stepped back from the knee-jerk reaction that the Fed news provided," said Jim Russell, a regional investment director at US Bank. "The manufacturing ISM number came in strong enough ”” not too hot, not too cold." 

If the manufacturing report had been stronger, Russell said, stocks might have fallen as investors speculated that the Fed would be inclined to ease back on its stimulus sooner.

A separate report on construction spending added to the picture of a gradually improving economy. Construction spending rose 0.5 percent in May compared with April, when spending was up 0.1 percent.

The Dow Jones industrial average gained 65.36 points, or 0.4 percent, to 14,974. The Dow gained as much as 173 points in during morning trading before drifting lower throughout the afternoon.

The S&P 500 index rose 8.68 points, or 0.54 percent, to 1,614. The Nasdaq composite rose 31.24 points, or 0.9 percent, to 3,434.

The Fed is currently buying $85 billion of bonds a month to keep interest rates low and encourage borrowing and spending. That stimulus has been a major factor supporting a rally in stocks this year and the threat of it being withdrawn made stock markets more volatile last month.

The S&P 500 closed at a record high of 1,669 on May 21. A day later, stocks began dropping after minutes of a Fed meeting were released suggesting the stimulus could be scaled back. The sell-off picked up pace June 19, when Bernanke laid out a possible road map for ending the bond purchases.

The S&P closed at 1,573 on June 24, almost 6 percent down from its record, before regaining some of its loss. The index is still up 13.2 percent this year.

The market is more than twice as likely to gain as decline on the first trading day of a new quarter, according to data from S&P Dow Jones Indices. The index has risen 27 times and fallen 13 times during the past 10 years on the first trading day of the quarter.

"You're seeing new money come in to the markets as we are in a new quarter," said Quincy Krosby, a market strategist at Prudential Financial. "New money is being put to work."

Eight of the 10 industry groups that make up the S&P 500 index rose, led by materials companies, a category that includes miners and chemical makers, and industrial companies. Utilities and phone companies were the only ones to decline.

This week's most closely watched economic release will be the government's monthly employment report Friday. Economists expect the U.S. added 165,000 jobs in June, a figure that would affirm the economy's steady, but slow, trajectory, said Scott Wren, a senior equity strategist at Wells Fargo Advisors.

"It's a confirmation of more of the same," said Wren. "More modest growth, more modest inflation, but not a big acceleration."

U.S. stocks also followed global markets higher. Japan's Nikkei 225 rose 1.3 percent, boosted by signs of improvement in Japan's economy.

In Europe, stock indexes rose after a mixed set of economic indicators for the region. While unemployment in the 17 countries that use the euro rose to another record high in May, manufacturing picked up in Britain, France and Italy and stabilized in Spain. 

Germany's DAX index rose 0.3 percent and Britain's FTSE 100 index climbed 1.5 percent.

The yield on the 10-year Treasury note was unchanged from Friday at 2.49 percent. The note's yield surged to 2.66 percent last Monday as investors worried that the Fed was poised to reduce on its bond purchases. The yield on the 10-year Treasury note is used to set interest rates on many kinds of loans including home mortgages. 

In commodities trading, the price of oil climbed $1.43, or 1.5 percent, to $97.99 a barrel. The price of oil rose on concerns that unrest in Egypt, the largest Arab nation, could spread and affect the transport of oil supplies in the Middle East and Africa.

Gold rose $32, or 2.6 percent, to $1,255.70 an ounce.

Trading will be curtailed this week due to the Independence Day holiday Thursday. The New York Stock Exchange will close at 1 p.m. on Wednesday and reopen on Friday. 

The dollar edged lower against the euro and rose against the Japanese yen.

Among stocks making big moves:

”” Onyx Pharmaceuticals surged $44.51, or 51 percent, to $131.33 after the company rejected a takeover bid from Amgen, a larger biotechnology company. Onyx said other companies have expressed interest in a buyout.

”” Cablevision rose $1.62, or 9.6 percent, to $18.44 after Reuters reported that Time Warner Cable is considering making a bid for the company.

”” Best Buy rose $2.41, or 8.8 percent, to $29.74 after Credit Suisse resumed its coverage of the stock with an "outperform" rating and a target price of $42. Analysts at the investment bank believe that the company's new approach to serving customers will help it increase its earnings.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market will close at 1 p.m. on Wednesday, ahead of the Independence Day holiday on Thursday. The market re-opens Friday.				

The stock market ended slightly lower Tuesday after reports of intensifying political turmoil in Egypt offset good news about the U.S. economy.

Stocks rose most of the day on positive news about car sales, home prices and manufacturing. But major indexes turned lower after 1:40 p.m. Eastern Daylight Time after news emerged that Egypt's military had drawn up plans to suspend the country's constitution, dissolve its legislature and set up an interim government. Millions of protesters are demanding the ouster of President Mohammed Morsi.

The price of oil climbed close to $100 a barrel on concern that the crisis in the largest Arab nation could disrupt the flow of crude from the region.

"It's more or less Egypt unrest," said Sal Arnuk, co-founder of Themis Trading, a brokerage firm that specializes in stocks. "These very large protests are being televised and broadcast ”” that's spooking people."

The Standard & Poor's 500 index had climbed as much as 9 points shortly before midday. It then fell as much as 8 points before closing down 0.88 point, or 0.1 percent, at 1,614.08

The Dow Jones industrial average fell 42.55 points, or 0.3 percent, to 14,932.41 The Nasdaq composite slipped 1.09 points, a fraction of a percentage point, at 3,433.40

Trading activity was lighter than normal, influenced by the upcoming July 4 holiday. The stock market will close at 1 p.m. on Wednesday, ahead of the Independence Day holiday on Thursday. The market re-opens Friday.

Crude oil jumped about $1 a barrel after news emerged of the worsening political situation in Egypt. Oil closed up $1.61 at $99.60 a barrel in New York. It last crossed $100 on Sept. 14 of last year.

The market's early gains were driven by a number of strong economic reports.

U.S. auto sales reached 7.8 million in the six months to June, the highest first-half total since 2007. That helped lift Ford's stock 44 cents, or 2.8 percent, to $16.18.

U.S. factory orders rose in May, helped by a third straight month of stronger business investment.

Also, U.S. home prices jumped 12.2 percent in May from a year earlier, the most in seven years, according to real estate data provider CoreLogic. The increase suggests the housing recovery is strengthening.

When trading resumes Friday, investors will turn their attention to a key gauge of the economy ”” the government's monthly employment report. 

 *The NYSE DOW closed  	LOWER ▼	-42.55	points or ▼	-0.28%	Tuesday, 2 July 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,932.41	▼	-42.55	▼	-0.28%	
	Nasdaq___	3,433.40	▼	-1.09	▼	-0.03%	
	S&P_500__	1,614.08	▼	-0.88	▼	-0.05%	
	30_Yr_Bond	3.470	▼	-0.02	▼	-0.57%	

NYSE Volume	3,685,526,750			 		 	
Nasdaq Volume	1,705,150,250			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,303.94	▼	-3.84	▼	-0.06%	
	DAX_____	7,910.77	▼	-73.15	▼	-0.92%	
	CAC_40__	3,742.57	▼	-24.91	▼	-0.66%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,810.30	▲	120.60	▲	2.57%	
	Shanghai_Comp	2,006.56	▲	11.32	▲	0.57%	
	Taiwan_Weight	8,015.86	▼	-20.14	▼	-0.25%	
	Nikkei_225____	14,098.74	▲	246.24	▲	1.78%	
	Hang_Seng____	20,658.65	▼	-144.64	▼	-0.70%	
	Strait_Times___	3,171.47	▲	30.54	▲	0.97%	
	NZX_50_Index__	4,458.25	▲	40.20	▲	0.91%	

http://finance.yahoo.com/news/us-stocks-turn-lower-egypt-194502648.html

*US stocks turn lower after Egypt turmoil worsens

US stocks turn slightly lower after political turmoil worsens in Egypt; Oil prices rise*

By Steve Rothwell, AP Markets Writer 

The stock market ended slightly lower Tuesday after reports of intensifying political turmoil in Egypt offset good news about the U.S. economy.

Stocks rose most of the day on positive news about car sales, home prices and manufacturing. But major indexes turned lower after 1:40 p.m. Eastern Daylight Time after news emerged that Egypt's military had drawn up plans to suspend the country's constitution, dissolve its legislature and set up an interim government. Millions of protesters are demanding the ouster of President Mohammed Morsi.

The price of oil climbed close to $100 a barrel on concern that the crisis in the largest Arab nation could disrupt the flow of crude from the region.

"It's more or less Egypt unrest," said Sal Arnuk, co-founder of Themis Trading, a brokerage firm that specializes in stocks. "These very large protests are being televised and broadcast ”” that's spooking people."

The Standard & Poor's 500 index had climbed as much as 9 points shortly before midday. It then fell as much as 8 points before closing down 0.88 point, or 0.1 percent, at 1,614.08

The Dow Jones industrial average fell 42.55 points, or 0.3 percent, to 14,932.41 The Nasdaq composite slipped 1.09 points, a fraction of a percentage point, at 3,433.40

Trading activity was lighter than normal, influenced by the upcoming July 4 holiday. The stock market will close at 1 p.m. on Wednesday, ahead of the Independence Day holiday on Thursday. The market re-opens Friday.

Crude oil jumped about $1 a barrel after news emerged of the worsening political situation in Egypt. Oil closed up $1.61 at $99.60 a barrel in New York. It last crossed $100 on Sept. 14 of last year.

The market's early gains were driven by a number of strong economic reports.

U.S. auto sales reached 7.8 million in the six months to June, the highest first-half total since 2007. That helped lift Ford's stock 44 cents, or 2.8 percent, to $16.18.

U.S. factory orders rose in May, helped by a third straight month of stronger business investment.

Also, U.S. home prices jumped 12.2 percent in May from a year earlier, the most in seven years, according to real estate data provider CoreLogic. The increase suggests the housing recovery is strengthening.

When trading resumes Friday, investors will turn their attention to a key gauge of the economy ”” the government's monthly employment report.

Economists forecast that the U.S. economy added 165,000 jobs in June, according to data compiled by FactSet. The Dow surged 200 points June 7 after the Labor Department said that U.S. employers added 175,000 jobs in May. The Federal Reserve has said the jobs market will be critical in determining when it ends its bond buying, which has kept interest rates low and driven a surge in stocks this year.

Investors and traders are also starting to think about corporate earnings, which begin in earnest next week. While corporate profits have reached record levels, most of the gains have come from cutting costs rather than increasing sales.

"We're in the middle of a transition," said Chris Wolfe, chief investment officer at Merrill Lynch Private Banking and Investment Group. "You would expect to see, over the balance of this year and going into next year, somewhat stronger macroeconomic data that translates directly into stronger corporate revenue growth."

Alcoa, the first company in the Dow to report earnings, will release its second-quarter results after the market closes July 8.

In government bond trading, the yield on the 10-year Treasury note was unchanged at 2.48 percent.

In other trading, the price of gold fell $12.30, or 1 percent, to close at $1,243.40 an ounce.

Among stocks making big moves:

”” Zynga jumped 20 cents, or 6.5 percent, to $3.27 after the troubled maker of "FarmVille" and other online games said CEO Mark Pincus would step aside. The company's stock is down almost 70 percent since its 2011 initial public offering at $10 per share.

”” Achillion Pharmaceuticals fell $2.10, or 25.1 percent, to $6.26 after the drug developer said regulators Monday placed a hold on an early-stage study involving its potential hepatitis C treatment.

”” DaVita HealthCare Partners fell $7.15, or 5.9 percent, to $114, after the government proposed cutting the rates of Medicare payments to dialysis service providers.


----------



## bigdog

Source: http://finance.yahoo.com 

Encouraging news about the U.S. jobs market trumped higher oil prices and worrying developments in Europe's debt crisis on Wednesday.

Oil climbed above $102 a barrel for the first time in more than a year as the political turmoil in Egypt intensified, raising the risk of supply disruptions in the Suez Canal. In Europe, traders dumped Portuguese stocks and bonds as the country's government teetered on the edge of collapse. 

That news was offset though by a brighter outlook on U.S. jobs ahead of Friday's monthly employment report. The stock market opened lower, then drifted higher in late morning trading. By noon, indexes turned positive. 

"The key takeaway is that jobs matter more than Egypt," said Alec Young, a global equity strategist at S&P Capital IQ. "Nothing is more important to the state of the economy than the jobs market." 

In the U.S., fewer people sought unemployment benefits last week and ADP, a payrolls processor, said businesses added more jobs last month than analysts had expected. The government's broader monthly survey of U.S. employment is scheduled to be released Friday morning. Economists predict that employers added 165,000 jobs in June. 

The Dow Jones industrial average closed up 56.14 points, or 0.4 percent, to close at 14,988.55.

The Standard & Poor's 500 rose 1.33 points, or 0.1 percent, to 1,615.41. The Nasdaq composite gained 10.27 points, or 0.3 percent, to 3,443.67.

*Trading closed at 1 p.m. Eastern Daylight Time ahead of the July 4th holiday Thursday. Regular trading will resume Friday.*

Investors will be watching the government's jobs report closely in hopes of figuring out what the Federal Reserve will do next. 

 *The NYSE DOW closed  	HIGHER ▲	56.14	points or ▲	0.38%	Wednesday, 3 July 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,988.55	▲	56.14	▲	0.38%	
	Nasdaq___	3,443.67	▲	10.27	▲	0.30%	
	S&P_500__	1,615.41	▲	1.33	▲	0.08%	
	30_Yr_Bond	3.500	▲	0.03	▲	0.81%	

NYSE Volume	2,174,899,000			 		 	
Nasdaq Volume	914,058,310			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,229.87	▼	-74.07	▼	-1.17%	
	DAX_____	7,829.32	▼	-81.45	▼	-1.03%	
	CAC_40__	3,702.01	▼	-40.56	▼	-1.08%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,727.80	▼	-82.50	▼	-1.72%	
	Shanghai_Comp	1,994.27	▼	-12.29	▼	-0.61%	
	Taiwan_Weight	7,911.42	▼	-104.44	▼	-1.30%	
	Nikkei_225____	14,055.56	▼	-43.18	▼	-0.31%	
	Hang_Seng____	20,147.31	▼	-511.34	▼	-2.48%	
	Strait_Times___	3,130.61	▼	-42.71	▼	-1.35%	
	NZX_50_Index__	4,450.76	▼	-7.50	▼	-0.17%	

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Stocks gain after encouraging US hiring news

Stocks end higher as encouraging news about US job market offsets crises in Portugal, Egypt*

By Steve Rothwell, AP Markets Writer

Encouraging news about the U.S. jobs market trumped higher oil prices and worrying developments in Europe's debt crisis on Wednesday.

Oil climbed above $102 a barrel for the first time in more than a year as the political turmoil in Egypt intensified, raising the risk of supply disruptions in the Suez Canal. In Europe, traders dumped Portuguese stocks and bonds as the country's government teetered on the edge of collapse. 

That news was offset though by a brighter outlook on U.S. jobs ahead of Friday's monthly employment report. The stock market opened lower, then drifted higher in late morning trading. By noon, indexes turned positive. 

"The key takeaway is that jobs matter more than Egypt," said Alec Young, a global equity strategist at S&P Capital IQ. "Nothing is more important to the state of the economy than the jobs market." 

In the U.S., fewer people sought unemployment benefits last week and ADP, a payrolls processor, said businesses added more jobs last month than analysts had expected. The government's broader monthly survey of U.S. employment is scheduled to be released Friday morning. Economists predict that employers added 165,000 jobs in June. 

The Dow Jones industrial average closed up 56.14 points, or 0.4 percent, to close at 14,988.55.

The Standard & Poor's 500 rose 1.33 points, or 0.1 percent, to 1,615.41. The Nasdaq composite gained 10.27 points, or 0.3 percent, to 3,443.67.

Trading closed at 1 p.m. Eastern Daylight Time ahead of the July 4th holiday Thursday. Regular trading will resume Friday.

Investors will be watching the government's jobs report closely in hopes of figuring out what the Federal Reserve will do next. 

Fed chairman Ben Bernanke said June 19 that the central bank was considering easing back on its stimulus program later this year if the economy strengthens enough. The central bank is buying $85 billion in bonds every month to keep interest rates low and encourage spending. 

The Fed may be forced to keep stimulating the economy because U.S. growth remains muted, said Derek Gabrielsen, a wealth advisor, at Strategic Wealth Partners. That will provide a boost to stocks. 

"The schedule that (Bernanke) laid out is not going to be realized as quickly as he said," Gabrielsen said. "I don't think the economy can handle it."

Payroll processing firm ADP said that U.S. employers added 188,000 jobs in June, more than the 155,000 forecast by economists. Also, the government's weekly report on unemployment claims provided more evidence that layoffs remain low and job gains steady. The number of Americans seeking unemployment benefits fell 5,000 to 343,000.

In U.S. government bond trading, the yield on the 10-year Treasury note was unchanged at 2.48 percent from Tuesday.

In Europe, stock markets slumped after the yield on Portugal's benchmark 10-year bond surged almost a percentage point to 7.31 percent. Investors are worried about the future of the bailed-out country and its efforts to get a handle on its debt after two Cabinet members quit. 

Germany's DAX index fell 1 percent to 7,829 and the U.K.'s FTSE 100 fell 1.2 percent to 6,229.

The price of oil climbed $1.43, or 1.5 percent, to $101.03. Oil has climbed almost 8 percent since Monday last week. The price of gold rose $8.50, or 0.7 percent, to close at $1,251.90.

Among stocks making big moves:

”” Alcoa fell 9 cents, or 1.2 percent, to $7.71 after the Citigroup analyst Brian Yu reduced his second-quarter and full-year profit predictions for the aluminum producer, citing low prices for the metal.

”” AutoNation gained 71 cents, or 1.6 percent, to $45.27 after Credit Suisse raised its rating on the stock to "outperform" from "neutral," citing a positive outlook for the company's parts and servicing business.

”” Mead Johnson fell $6.05, or 8.1 percent, to $68.85 adding to a 5.7 percent slump Tuesday. The Chinese government is investigating the nutritional products maker for possibly violating anti-monopoly laws in its pricing of infant formula, Bloomberg News reported yesterday.


----------



## bigdog

Source: http://finance.yahoo.com 

 World stocks shrugged off worries over political turmoil in Egypt and rallied strongly Thursday on optimism that easy monetary policy from central banks in Europe is set to continue for some time to come. *U.S. markets were closed for Independence Day. *

The biggest gains were in Britain, where the Bank of England surprised markets after its first monetary policy meeting held under new governor Mark Carney. It said afterward that expectations it would raise rates in coming months were unwarranted, despite the improving economic backdrop. 

Meanwhile, the European Central Bank kept rates at record low rates in light of the eurozone's ongoing recession, with President Mario Draghi for the first time saying they will remain there "for an exended period of time."

Stocks surged after each statement.

Britain's FTSE 100 index jumped 3.1 percent to close at 6,421.67 while Germany's DAX rose 2.1 percent to 7,994.31. France's CAC 40 gained 2.9 percent to 3,809.31.

The central bank statements contributed to strong declines in the euro and British pound against the dollar. Looser monetary policies tend to weaken a currency as low interest rates mean lower returns on investments and more attractive opportunities can be found elsewhere. The euro fell 0.7 percent to $1.2916, while the British pound fell 1.4 percent to $1.5066. 

Financial shares were among the strongest gainers, with Royal Bank of Scotland PLC stock rising 5.1 percent, Barclays PLC up 4.7 percent and HSBC PLC up 4.6 percent.

"Global markets stormed ahead today as...Draghi confirmed that interest rates will be kept at current record lows or even further lowered in order to inject more liquidity into struggling eurozone nations," said Spreadex trader Shavaz Dhalla in a note on markets.

However, "there is still the concern that volumes are thin today owing to the U.S market being closed."

Earlier in Asia, Hong Kong's Hang Seng index was the strongest gainer, rising 1.6 percent to 20,468.67. China's Shanghai Composite rose 0.6 percent to 2,006.10.

Tokyo's Nikkei 225 bucked the trend, slipping 0.3 percent to 14,018.93, despite remarks from Bank of Japan Governor Haruhiko Kuroda that the country's economy is headed for recovery. 

 *U.S. markets were closed for Independence Day July 4; The NYSE DOW closed  	HIGHER ▲	56.14	points or ▲	0.38%	Thursday, 4 July 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14,988.55	▲	56.14	▲	0.38%	
	Nasdaq___	3,443.67	▲	10.27	▲	0.30%	
	S&P_500__	1,615.41	▲	1.33	▲	0.08%	
	30_Yr_Bond	3.500	▲	0.03	▲	0.81%	

NYSE Volume	2,174,899,000			 		 	
Nasdaq Volume	914,058,310			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,421.67	▲	191.80	▲	3.08%	
	DAX_____	7,994.31	▲	164.99	▲	2.11%	
	CAC_40__	3,809.31	▲	107.30	▲	2.90%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,781.00	▲	53.20	▲	1.13%	
	Shanghai_Comp	2,006.10	▲	11.83	▲	0.59%	
	Taiwan_Weight	7,893.72	▼	-17.70	▼	-0.22%	
	Nikkei_225____	14,018.93	▼	-36.63	▼	-0.26%	
	Hang_Seng____	20,468.67	▲	321.36	▲	1.60%	
	Strait_Times___	3,148.94	▲	19.45	▲	0.62%	
	NZX_50_Index__	4,458.95	▲	8.20	▲	0.18%	

http://finance.yahoo.com/news/stocks-rally-european-central-banks-134020659.html

*Stocks rally on European central banks' comments

With US markets closed, stocks rally after eurozone, UK central banks say rates to stay low*

By Toby Sterling, AP Business Writer

World stocks shrugged off worries over political turmoil in Egypt and rallied strongly Thursday on optimism that easy monetary policy from central banks in Europe is set to continue for some time to come. U.S. markets were closed for Independence Day. 

The biggest gains were in Britain, where the Bank of England surprised markets after its first monetary policy meeting held under new governor Mark Carney. It said afterward that expectations it would raise rates in coming months were unwarranted, despite the improving economic backdrop. 

Meanwhile, the European Central Bank kept rates at record low rates in light of the eurozone's ongoing recession, with President Mario Draghi for the first time saying they will remain there "for an exended period of time."

Stocks surged after each statement.

Britain's FTSE 100 index jumped 3.1 percent to close at 6,421.67 while Germany's DAX rose 2.1 percent to 7,994.31. France's CAC 40 gained 2.9 percent to 3,809.31.

The central bank statements contributed to strong declines in the euro and British pound against the dollar. Looser monetary policies tend to weaken a currency as low interest rates mean lower returns on investments and more attractive opportunities can be found elsewhere. The euro fell 0.7 percent to $1.2916, while the British pound fell 1.4 percent to $1.5066. 

Financial shares were among the strongest gainers, with Royal Bank of Scotland PLC stock rising 5.1 percent, Barclays PLC up 4.7 percent and HSBC PLC up 4.6 percent.

"Global markets stormed ahead today as...Draghi confirmed that interest rates will be kept at current record lows or even further lowered in order to inject more liquidity into struggling eurozone nations," said Spreadex trader Shavaz Dhalla in a note on markets.

However, "there is still the concern that volumes are thin today owing to the U.S market being closed."

Earlier in Asia, Hong Kong's Hang Seng index was the strongest gainer, rising 1.6 percent to 20,468.67. China's Shanghai Composite rose 0.6 percent to 2,006.10.

Tokyo's Nikkei 225 bucked the trend, slipping 0.3 percent to 14,018.93, despite remarks from Bank of Japan Governor Haruhiko Kuroda that the country's economy is headed for recovery.

The dollar gained fractionally against the yen, just passing the 100 yen mark to 100.01 yen.

Mike McCudden, head of derivatives at Interactive Investor, noted that while physical exchanges are closed in the U.S., futures are still trading, and they indicate Wednesday's rally on the back of favorable jobs and unemployment data has continued, with Dow Jones Industrial Index futures now trading above 15,000. The index closed at 14,988.50 Wednesday. 

"Whether this can be sustained will clearly be reflected by what's happening on a global basis," he said in a note on markets. "The situation in Egypt remains hugely sensitive, whilst resurgent eurozone woes could knock sentiment." 

Investors around the world were also keeping a close watch on the oil price, which has passed $100 per barrel due to Wednesday's events in the Middle East: Egypt's military overthrew Mohammed Morsi, the country's first democratically elected president, after he defied calls to resign despite the demands of millions of protesters.

Egypt is not an oil producer but its control of the Suez canal ”” one of the world's busiest shipping lanes, which links the Mediterranean with the Red Sea ”” gives it a crucial role in maintaining global energy supplies. High energy costs act as a drag on economic growth, but oil has eased somewhat from its Wednesday highs and was down 25 cents to $100.99.

The Bank of England and ECB statements also led to lower government bond yields in Southern Europe, where fears have been brewing that a crisis in Portugal's governing coalition could bring Europe's debt crisis back to a boil.

"These actions should help limit increases in bond yields in the U.K. and Europe, even as Treasury yields grind higher amid Fed tapering speculation," said BMO Economist Benjamin Reitzes.

Over the past few weeks, markets have sputtered amid speculation that the U.S. Federal Reserve might taper off its policy of buying $85 billion in bonds every month to keep interest rates low and encourage spending.

But on Wednesday, unemployment and jobs data out of the U.S. were just right for stocks, analysts said: good enough to restore confidence that the U.S. economic recovery is continuing, but not so good that the Fed is likely to pull back on stimulus. 

"We have had a period of extreme volatility, and now we have some settling going on," said Lorraine Tan, director at Standard & Poor's equity research in Singapore. "I think there's a realization that the (negative) reaction may have been overdone."


----------



## bigdog

Source: http://finance.yahoo.com 

A see-saw start for stocks ended with a rally Friday, as traders decided that a healthy job market mattered more than the Federal Reserve scaling back its economic stimulus.

After the government reported strong hiring for June, traders and investors struggled over how to react. At first, they pushed stocks higher because the report was better than expected. Then they pushed stocks lower because improved hiring made it more likely the Federal Reserve would ease back on its economic stimulus.

After waffling early, investors and finally settled on an optimistic outlook.

"In general, I think our economy is standing on its own two feet right now," said David Brown, chief market strategist at Sabrient, a Santa Barbara, Calif., research firm for institutional investors.

U.S. stock indexes shot higher when the market opened, fueled by the Labor Department's report that the U.S. economy added a stronger-than-expected 195,000 jobs last month. The Dow Jones industrial average jumped as much as 115 points.

But the gains tapered off within the hour, and all the major indexes dipped briefly into the red.

By the end of the day, the three main U.S. indexes had more than recovered, each ending about 1 percent higher.

The Dow Jones industrial average rose 147.29 points to 15,135.84. The Standard & Poor's 500 rose 16.48 points to 1,631.89. The Nasdaq composite climbed 35.71 to 3,479.38.

"I think the initial reaction was, 'Yay, all these people are employed, and then, 'whoops,'" Brown said, during late-morning trading.

The whiplash day illustrated the complex and outsized role that the Fed has played in the stock market in recent weeks.

The Federal Reserve, led by Chairman Ben Bernanke, has been propping up the economy by buying bonds and keeping interest rates low. Investors know that the Fed isn't going to continue the stimulus forever, but they worry that developments like Friday's positive jobs report could make the Fed yank away the stimulus too soon. 

The jobs picture "gives Bernanke more of a mandate" to rein in Fed stimulus programs, Brown said.

As investors bought stocks, they sold bonds, another sign that they think the Fed will tamp down its bond buying. The yield on the 10-year Treasury note jumped dramatically to 2.73 percent from late Wednesday's level of 2.51 percent. That was the highest yield for the 10-year note since August 2011.

 *The NYSE DOW closed  	HIGHER ▲	147.29	points or ▲	0.98%	Friday, 5 July 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,135.84	▲	147.29	▲	0.98%	
	Nasdaq___	3,479.38	▲	35.71	▲	1.04%	
	S&P_500__	1,631.89	▲	16.48	▲	1.02%	
	30_Yr_Bond	3.680	▲	0.18	▲	5.15%	

NYSE Volume	2,960,383,000			 		 	
Nasdaq Volume	1,220,660,880			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,375.52	▼	-46.15	▼	-0.72%	
	DAX_____	7,806.00	▼	-188.31	▼	-2.36%	
	CAC_40__	3,753.85	▼	-55.46	▼	-1.46%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,826.40	▲	45.40	▲	0.95%	
	Shanghai_Comp	2,007.20	▲	1.10	▲	0.05%	
	Taiwan_Weight	8,001.82	▲	108.10	▲	1.37%	
	Nikkei_225____	14,309.97	▲	291.04	▲	2.08%	
	Hang_Seng____	20,854.67	▲	386.00	▲	1.89%	
	Strait_Times___	3,169.73	▲	22.61	▲	0.72%	
	NZX_50_Index__	4,489.86	▲	30.91	▲	0.69%	

http://finance.yahoo.com/news/stock...M2MTYyYTM4BHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

*Stocks end with strong gains after jobs report

US stocks end with a surge as encouraging jobs report outweighs Fed worries*

By Christina Rexrode, AP Business Writer

A see-saw start for stocks ended with a rally Friday, as traders decided that a healthy job market mattered more than the Federal Reserve scaling back its economic stimulus.

After the government reported strong hiring for June, traders and investors struggled over how to react. At first, they pushed stocks higher because the report was better than expected. Then they pushed stocks lower because improved hiring made it more likely the Federal Reserve would ease back on its economic stimulus.

After waffling early, investors and finally settled on an optimistic outlook.

"In general, I think our economy is standing on its own two feet right now," said David Brown, chief market strategist at Sabrient, a Santa Barbara, Calif., research firm for institutional investors.

U.S. stock indexes shot higher when the market opened, fueled by the Labor Department's report that the U.S. economy added a stronger-than-expected 195,000 jobs last month. The Dow Jones industrial average jumped as much as 115 points.

But the gains tapered off within the hour, and all the major indexes dipped briefly into the red.

By the end of the day, the three main U.S. indexes had more than recovered, each ending about 1 percent higher.

The Dow Jones industrial average rose 147.29 points to 15,135.84. The Standard & Poor's 500 rose 16.48 points to 1,631.89. The Nasdaq composite climbed 35.71 to 3,479.38.

"I think the initial reaction was, 'Yay, all these people are employed, and then, 'whoops,'" Brown said, during late-morning trading.

The whiplash day illustrated the complex and outsized role that the Fed has played in the stock market in recent weeks.

The Federal Reserve, led by Chairman Ben Bernanke, has been propping up the economy by buying bonds and keeping interest rates low. Investors know that the Fed isn't going to continue the stimulus forever, but they worry that developments like Friday's positive jobs report could make the Fed yank away the stimulus too soon.

The jobs picture "gives Bernanke more of a mandate" to rein in Fed stimulus programs, Brown said.

As investors bought stocks, they sold bonds, another sign that they think the Fed will tamp down its bond buying. The yield on the 10-year Treasury note jumped dramatically to 2.73 percent from late Wednesday's level of 2.51 percent. That was the highest yield for the 10-year note since August 2011.

Relatively few shares changed hands Friday because many traders were still on vacation after the Fourth of July holiday Thursday. Light volume may have contributed to the market's early volatility. The market can be moved by changes in even a relatively small numbers of shares.

Traders also noted that U.S. stock indexes were playing catch-up after missing out on Europe's big gains Thursday.

Stocks in Europe had jumped Thursday, including a 3 percent gain in Britain's main index, after the European Central Bank and the Bank of England sought to soothe markets by saying they'd keep interest rates low for the foreseeable future. Investors there have been scared that their own central banks may follow the Fed's lead and rein in their economic stimulus measures soon.

The calming effect didn't last long. Markets were down throughout Europe on Friday, as investors there fretted over whether the Fed would pull back.

As for U.S. government bond trading, investors have been selling 10-year Treasuries for weeks in anticipation of a Fed pullback. As recently as May 3, the yield on the 10-year note was 1.6 percent. The current yield, while still low by historical standards, has created a sea change in the way investors view bonds.

Jordan Waxman, managing director and partner at HighTower, a wealth management firm in New York, said investors who had fled to bonds because they seemed safe weren't exactly soothed by their recent performance.

"It's like going to your favorite restaurant month in and month out, and then one day you see a rodent running across the restaurant," Waxman said. "It's going to be a while before you go back."

For the past three decades, bond interest rates have tended to move down rather than up, so the recent gains are throwing many investors for a loop, noted Craig Fehr, an investment strategist at Edward Jones in St. Louis.

"This is catching a lot of bond investors off guard," said Fehr. He's been telling clients to trim their holdings on long-term bonds.

The effects of potentially higher interest rates were evident throughout financial markets Friday. Stocks for small banks rose because investors believe those companies will benefit from being able to charge higher rates when they make loans

But homebuilder Lennar was the second-biggest decliner on the S&P 500, falling $1.42, or 4 percent, to $33.93. Investors worried that higher interest rates will make mortgages more expensive and tamp down on demand, although rates will still be low by historical standards.

The price of oil rose $1.98, or 2 percent, to $103.22 a barrel in New York. That could signal investors are optimistic about U.S. manufacturing and the broader economy ”” or it could mean they're unnerved by political unrest in Egypt. On Wednesday, the Egyptian military ousted President Mohammed Morsi, and his supporters began a series of protests and attacks Friday.

The dollar rose, which likely means that investors were feeling confident about the U.S. economy.

As for the U.S. jobs report, investors said it represented an economy on the mend.

The 195,000 additional jobs in June handily beat expectations for an increase of 165,000. The government also said that the economy added 70,000 more jobs in April and May combined than previously thought.

But there were also reasons for caution. More than half the job additions came from hotels, restaurants, entertainment and retail, which are usually lower paying.

Among stocks making big moves:

””KB Home fell 64 cents, or 3.4 percent, to $18.07. Beazer Homes lost 18 cents, or 1 percent, to $17.22.

””Lululemon, which makes high-end yoga clothing, fell after the company said its founder and chairman plans to sell a large portion of his stock. The stock lost 95 cents, or 1.5 percent, to $63.55.

””Newmont Mining was the biggest decliner in the S&P 500, hurt by a dip in gold prices. The stock lost $1.24, or 4.3 percent, to $27.78.

””Restoration Hardware, which sells high-end home products, fell after disclosing that an unnamed group of stockholders plan to sell some of its shares. The stock lost $1.28, or 1.7 percent, to $74.65.

5526


----------



## bigdog

Source: http://finance.yahoo.com 

Cautious optimism about corporate earnings sent the stock market higher Monday.

U.S. companies start reporting their second-quarter results this week, led by aluminum producer Alcoa. Other major companies that will report include JPMorgan and Wells Fargo. 

Analysts predict that earnings growth for companies in the Standard & Poor's 500 index will come in at 3 percent in the second quarter. While that rate would be down from 5 percent in the first quarter, earnings are still expected to reach record levels. 

Investors and traders will search for evidence that companies are increasing revenues, not just cutting costs to boost profits. Sales growth is predicted to fall 0.3 percent in the second quarter.

"We'll be looking to see where revenue comes in," said Jim Dunigan, an executive vice president of investments at PNC.

The Dow rose 88.85 points, or 0.6 percent, to close at 15,224.69. The Standard & Poor's 500 index gained 8.57 points, or 0.5 percent, to end at 1,640.46.

Dell was among the big gainers in the S&P 500 index. An advisory firm recommended that company shareholders support a plan to take the computer company private. Founder Michael Dell and Silver Lake Partners have offered to buy Dell for $24.4 billion, or $13.65 a share. Dell rose 41 cents, or 3.1 percent, to $13.44. 

The Russell 2000 index, an index of small-company stocks, closed at an all-time high 1,009.25. The index past the 1,000 mark for the first time Friday and has gained 19 percent this year, a sign that investors are more willing to take on risk. The gains have outpaced those of the Dow and S&P 500, which are up 16 percent and 15 percent, respectively.

In other trading, the Nasdaq composite rose 5.45, or 0.2 percent, to 3,484.83, the smallest gain of the major indexes.

The index was weighed down by a slump in Intel. The chipmaker fell after a Citigroup analyst wrote that weak PC sales and waning demand for smartphones would stunt the company's growth. Intel, which makes up 2.2 percent of the Nasdaq, fell 88 cents, or 3.6 percent, to $23.18. 

 *The NYSE DOW closed  	HIGHER ▲	88.85	points or ▲	0.59%	Monday, 8 July 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,224.69	▲	88.85	▲	0.59%	
	Nasdaq___	3,484.83	▲	5.45	▲	0.16%	
	S&P_500__	1,640.46	▲	8.57	▲	0.53%	
	30_Yr_Bond	3.640	▼	-0.03	▼	-0.92%	

NYSE Volume	3,861,930,000			 		 	
Nasdaq Volume	1,498,941,500			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,450.07	▲	28.40	▲	0.44%	
	DAX_____	7,968.54	▲	162.54	▲	2.08%	
	CAC_40__	3,823.83	▲	69.98	▲	1.86%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,797.60	▼	-28.80	▼	-0.60%	
	Shanghai_Comp	1,958.27	▼	-48.93	▼	-2.44%	
	Taiwan_Weight	7,886.34	▼	-115.48	▼	-1.44%	
	Nikkei_225____	14,109.34	▼	-200.63	▼	-1.40%	
	Hang_Seng____	20,582.19	▼	-272.48	▼	-1.31%	
	Strait_Times___	3,155.47	▼	-14.26	▼	-0.45%	
	NZX_50_Index__	4,493.30	▲	3.43	▲	0.08%	

http://finance.yahoo.com/news/stocks-rise-earnings-kick-off-214403277.html

*Stocks rise as earnings kick off; chipmakers fall

Stock market rises ahead of corporate earnings reports; Intel slump holds back Nasdaq*

By Steve Rothwell, AP Markets Writer

Cautious optimism about corporate earnings sent the stock market higher Monday.

U.S. companies start reporting their second-quarter results this week, led by aluminum producer Alcoa. Other major companies that will report include JPMorgan and Wells Fargo. 

Analysts predict that earnings growth for companies in the Standard & Poor's 500 index will come in at 3 percent in the second quarter. While that rate would be down from 5 percent in the first quarter, earnings are still expected to reach record levels. 

Investors and traders will search for evidence that companies are increasing revenues, not just cutting costs to boost profits. Sales growth is predicted to fall 0.3 percent in the second quarter.

"We'll be looking to see where revenue comes in," said Jim Dunigan, an executive vice president of investments at PNC.

The Dow rose 88.85 points, or 0.6 percent, to close at 15,224.69. The Standard & Poor's 500 index gained 8.57 points, or 0.5 percent, to end at 1,640.46.

Dell was among the big gainers in the S&P 500 index. An advisory firm recommended that company shareholders support a plan to take the computer company private. Founder Michael Dell and Silver Lake Partners have offered to buy Dell for $24.4 billion, or $13.65 a share. Dell rose 41 cents, or 3.1 percent, to $13.44. 

The Russell 2000 index, an index of small-company stocks, closed at an all-time high 1,009.25. The index past the 1,000 mark for the first time Friday and has gained 19 percent this year, a sign that investors are more willing to take on risk. The gains have outpaced those of the Dow and S&P 500, which are up 16 percent and 15 percent, respectively.

In other trading, the Nasdaq composite rose 5.45, or 0.2 percent, to 3,484.83, the smallest gain of the major indexes.

The index was weighed down by a slump in Intel. The chipmaker fell after a Citigroup analyst wrote that weak PC sales and waning demand for smartphones would stunt the company's growth. Intel, which makes up 2.2 percent of the Nasdaq, fell 88 cents, or 3.6 percent, to $23.18. 

Other chipmakers also declined. Qualcomm dropped 96 cents, or 1.6 percent, to $59.99.

In government bond trading, the yield on the 10-year government note pulled back from a two-year high of 2.74 Friday. It fell to 2.64 percent on Monday.

The yield had jumped after the government reported strong U.S. hiring for June on Friday. Investors believe that the improving jobs market will prompt the Federal Reserve to ease back on its bond-buying program. The Fed is buying $85 billion in bonds each month to keep interest rates low and spur borrowing and investing. 

For the first five months of the year stocks moved higher, supported by the backdrop of low interest rates, a recovering housing market and increased hiring. The S&P 500 index gained 17 percent by May 21 and stood at a record 1,669.

But the stock market pulled back when Fed chairman Ben Bernanke said that the central bank might consider easing its stimulus. 

The S&P 500 dropped as low as 1,573 on June 24, about 5.7 percent below its record close.

Since then stocks have gradually recouped losses as investors appear to be getting more comfortable with higher interest rates. The S&P 500 is now 2.2 percent below its May record.

"Interest rates, even though they've risen, are still incredibly low," said Brent Schutte, a market strategist at BMO Private Bank. "Right now, increases in rates are a good thing because it means the economy is doing a little bit better."

The rising rates are still making bond investors nervous though.

Investors pulled a net $900 million from U.S. stock funds for the week ending June 26, but they withdrew $28.1 billion from bond funds over the same period, according to data from the Investment Company Institute.

That sell-off may boost stocks as investors look to reinvest their proceeds from bonds.

In commodities trading, the price of oil was little changed at $103.14 a barrel. The price of gold rose $22.20, or 1.8 percent, to $1,234.90 an ounce.

After the market closed Monday, Alcoa reported a wider second-quarter loss due to weak aluminum prices. 

Alcoa lost $119 million, or 11 cents per share, in the April-through-June quarter. That compared with a loss of $2 million, or break-even on a per-share basis, a year earlier.

Alcoa fell 5 cents, or 0.6 percent, to $7.87 in after-hours trading.

Among other stocks making big moves:

Priceline rose $33.47, or 3.9 percent, to $888.60 after investment bank Morgan Stanley raised its price target for the online bookings company. Analysts at the bank believe that Priceline can climb as high as $1,010 as it continues to grow  internationally and worries about shrinking profits dissipate.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market edged higher Tuesday as investors bought companies that fare best when the economic outlook is bright.

All major stocks indexes rose, but gains were led by the riskier parts of the market. The Russell 2000, an index of small-company stocks, climbed for a fourth straight day. The Dow Jones transportation average, seen as a leading indicator for the broader economy, also jumped.

The gains suggest that investors are getting more confident about the economy's prospects. In the first half of the year, stock markets were powered by the safer companies that paid large dividends.

"When you see that leadership from the smaller caps that's probably a good sign overall for the bigger blue chips to potentially follow suite," said Ryan Detrick, a senior technical strategist at Schaeffer's Investment Research. "People are leaving the more defensive areas."

The Russell 2000 rose eight points, or 0.9 percent, to 1,018.05. It has gained 4.2 percent in July and is moving deeper into record territory. The index has risen more this year than its large-company counterparts, the Dow Jones industrial average and the Standard & Poor's 500 index.

The Dow Jones transportation index rose the most among major U.S. indexes Tuesday, led by strong gains for Alaska Air Group and FedEx.

The index jumped 148 points, or 2.4 percent, to 6,446. Alaska Air Group rose 7 percent after it forecast an additional $50 million a year in revenue from increased fees. FedEx rose 6 percent on speculation that William Ackman's hedge fund, Pershing Square, could invest in the company.

Wall Street is also turning its attention to corporate earnings. The second-quarter results should give traders and investors fresh insights into the economy. Market watchers spent most of June trying to figure out where the Federal Reserve was headed with its economic stimulus program.

Along with the quarterly results, investors want to see how confident companies are about the rest of the year, said Cam Albright, director of asset allocation for Wilmington Trust Investment Advisors.

Major U.S. stock indexes have notched a series of all-time highs this year on expectations that earnings will remain at record levels.

"A lot of what the market has justified its advances on is a strong second-half for the economy and a strong second-half for earnings," said Albright. "It's important that we see verification of that." 

 *The NYSE DOW closed  	HIGHER ▲	75.65	points or ▲	0.50%	Tuesday, 9 July 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,300.34	▲	75.65	▲	0.50%	
	Nasdaq___	3,504.26	▲	19.43	▲	0.56%	
	S&P_500__	1,652.32	▲	11.86	▲	0.72%	
	30_Yr_Bond	3.650	▲	0.01	▲	0.30%	

NYSE Volume	3,490,723,250			 		 	
Nasdaq Volume	1,594,893,500			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,513.08	▲	63.01	▲	0.98%	
	DAX_____	8,057.75	▲	89.21	▲	1.12%	
	CAC_40__	3,843.56	▲	19.73	▲	0.52%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,866.50	▲	68.90	▲	1.44%	
	Shanghai_Comp	1,965.45	▲	7.18	▲	0.37%	
	Taiwan_Weight	7,971.18	▲	84.84	▲	1.08%	
	Nikkei_225____	14,472.90	▲	363.56	▲	2.58%	
	Hang_Seng____	20,683.01	▲	100.82	▲	0.49%	
	Strait_Times___	3,182.87	▲	27.40	▲	0.87%	
	NZX_50_Index__	4,523.69	▲	30.39	▲	0.68%	

http://finance.yahoo.com/news/stocks-head-higher-fourth-day-142402032.html

*Stocks head higher for fourth day

Stocks rise for 4th day as bullish signals grow; gains led by small companies*

By Steve Rothwell, AP Markets Writer 

The stock market edged higher Tuesday as investors bought companies that fare best when the economic outlook is bright.

All major stocks indexes rose, but gains were led by the riskier parts of the market. The Russell 2000, an index of small-company stocks, climbed for a fourth straight day. The Dow Jones transportation average, seen as a leading indicator for the broader economy, also jumped.

The gains suggest that investors are getting more confident about the economy's prospects. In the first half of the year, stock markets were powered by the safer companies that paid large dividends.

"When you see that leadership from the smaller caps that's probably a good sign overall for the bigger blue chips to potentially follow suite," said Ryan Detrick, a senior technical strategist at Schaeffer's Investment Research. "People are leaving the more defensive areas."

The Russell 2000 rose eight points, or 0.9 percent, to 1,018.05. It has gained 4.2 percent in July and is moving deeper into record territory. The index has risen more this year than its large-company counterparts, the Dow Jones industrial average and the Standard & Poor's 500 index.

The Dow Jones transportation index rose the most among major U.S. indexes Tuesday, led by strong gains for Alaska Air Group and FedEx.

The index jumped 148 points, or 2.4 percent, to 6,446. Alaska Air Group rose 7 percent after it forecast an additional $50 million a year in revenue from increased fees. FedEx rose 6 percent on speculation that William Ackman's hedge fund, Pershing Square, could invest in the company.

Wall Street is also turning its attention to corporate earnings. The second-quarter results should give traders and investors fresh insights into the economy. Market watchers spent most of June trying to figure out where the Federal Reserve was headed with its economic stimulus program.

Along with the quarterly results, investors want to see how confident companies are about the rest of the year, said Cam Albright, director of asset allocation for Wilmington Trust Investment Advisors.

Major U.S. stock indexes have notched a series of all-time highs this year on expectations that earnings will remain at record levels.

"A lot of what the market has justified its advances on is a strong second-half for the economy and a strong second-half for earnings," said Albright. "It's important that we see verification of that."

Alcoa was the first major company to announce second-quarter results. The aluminum maker late Monday reported a second-quarter loss that wasn't as big as financial analysts feared. The company benefited from strong demand for aluminum used in autos and airplanes, although that was offset by weaker prices.

Traders weren't blown away by the results, though. After initially rising, the stock ended down 1 cent, or 0.1 percent, to $7.91.

Yum Brands, which owns KFC, Pizza Hut and Taco Bell, and Family Dollar store are among the companies reporting their earnings this week. JPMorgan Chase and Wells Fargo will also report.

The Dow Jones industrial average rose 75 points, or 0.5 percent, to 15,300.34. The S&P 500 index gained 11 points, or 0.7 percent, to 1,652.32 The Nasdaq composite rose 19 points, or 0.6 percent, to 3,504.26

The S&P 500 has risen for four straight days, its best streak in almost two months. Gains were led by industrial firms and companies that provide raw materials. Telecommunications companies, which investors turn to when the economic outlook is gloomier, fell.

The S&P 500 is now just 1 percent below its May 21 record of 1,669. It was down almost 6 percent to 1,573 on June 24.

Stocks have recovered since Fed Chairman Ben Bernanke said that the central bank planned to reduce its economic stimulus.

The central bank is buying $85 billion in bonds a month to keep interest rates low and encourage borrowing and spending. That stimulus has been a major support in the stock markets' five-year rally.

Stock markets are likely to become more volatile as investors try to assess when and how quickly the central bank will cut back on stimulus, said Dean Junkas, chief investment officer of Wells Fargo Private Bank.

"More volatility in the second half of the year is what we're expecting," said Junkas.

In government bond trading, the yield on the 10-year Treasury note was little changed at 2.64 percent early Tuesday. The yield has pulled back after surging to 2.74 percent Friday, its highest level in almost two years, after the government reported strong hiring for June.

In commodities trading, the price of oil rose 17 cents, or 0.2 percent to $103.33 a barrel. Gold rose $12, or 1 percent, to $1,246.90.

Among other stocks making big moves:

”” WD-40 rose $3.13, or 5 percent, to $60.77 after the company reported earnings that beat financial analysts' forecasts.

”” Barnes and Noble rose 64 cents, or 3.6 percent, to $18.32 after the bookseller said Monday its CEO is leaving after three years. The company didn't name a replacement.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market's answer to Wednesday's Federal Reserve minutes? Yawn. 

Major stock indexes were down a fraction of a percent more than an hour after the Fed released a report on its latest policy meeting in June. The declines mirrored those just before the Fed announcement, which offered no surprises.

The Dow Jones industrial average was down 20 points, or a fraction of a percent, at 15,279 as of 3:39 p.m. Eastern Daylight Time. The Standard & Poor's 500 dropped two points, or 0.1 percent, to 1,650. The Nasdaq was up 15, or 0.4 percent, at 3,519.

"I don't think the minutes offered anything that would change (my) view of the market's direction or the Fed's intentions," said Quincy Krosby, market strategist for Prudential Annuities.

Stocks slumped June 19 after the Fed meeting when Fed Chairman Ben Bernanke said that the central bank was considering easing back on its $85 billion bond-buying program. The market has since rebounded after a number of Fed policymakers reassured investors that the Fed would not curb its stimulus too quickly. 

Investors will also focus on a speech Bernanke will deliver at the National Bureau of Economic Research after the market closes Wednesday.

Stocks had risen for four days in a row as investors became more confident about the economy after a strong June employment report.

Investors are watching earnings as companies start to report results for the second quarter, which ended 10 days ago. Analysts expect earnings growth to average 2.8 percent for the companies in the S&P 500, according to data from S&P Capital IQ. 

In government bond trading, the yield on the 10-year Treasury note rose to 2.69 percent from 2.64 percent late Tuesday. 

 *The NYSE DOW closed  	LOWER ▼	-8.68	points or ▼	-0.06%	Wednesday, 10 July 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,291.66	▼	-8.68	▼	-0.06%	
	Nasdaq___	3,520.76	▲	16.50	▲	0.47%	
	S&P_500__	1,652.62	▲	0.30	▲	0.02%	
	30_Yr_Bond	3.690	▲	0.03	▲	0.93%	

NYSE Volume	3,348,736,250			 		 	
Nasdaq Volume	1,536,346,000			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,504.96	▼	-8.12	▼	-0.12%	
	DAX_____	8,066.48	▲	8.73	▲	0.11%	
	CAC_40__	3,840.53	▼	-3.03	▼	-0.08%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,885.40	▲	18.90	▲	0.39%	
	Shanghai_Comp	2,008.13	▲	42.67	▲	2.17%	
	Taiwan_Weight	8,011.69	▲	40.51	▲	0.51%	
	Nikkei_225____	14,416.60	▼	-56.30	▼	-0.39%	
	Hang_Seng____	20,904.56	▲	221.55	▲	1.07%	
	Strait_Times___	3,188.04	▲	9.41	▲	0.30%	
	NZX_50_Index__	4,556.77	▲	33.08	▲	0.73%	

http://finance.yahoo.com/news/stocks-little-changed-fed-releases-194325574.html

*Stocks little changed after Fed releases minutes

Stocks flat in afternoon trade after Fed minutes suggest no quick end to bond purchases*

By Steve Rothwell, AP Markets Writer

The stock market's answer to Wednesday's Federal Reserve minutes? Yawn. 

Major stock indexes were down a fraction of a percent more than an hour after the Fed released a report on its latest policy meeting in June. The declines mirrored those just before the Fed announcement, which offered no surprises.

The Dow Jones industrial average was down 20 points, or a fraction of a percent, at 15,279 as of 3:39 p.m. Eastern Daylight Time. The Standard & Poor's 500 dropped two points, or 0.1 percent, to 1,650. The Nasdaq was up 15, or 0.4 percent, at 3,519.

"I don't think the minutes offered anything that would change (my) view of the market's direction or the Fed's intentions," said Quincy Krosby, market strategist for Prudential Annuities.

Stocks slumped June 19 after the Fed meeting when Fed Chairman Ben Bernanke said that the central bank was considering easing back on its $85 billion bond-buying program. The market has since rebounded after a number of Fed policymakers reassured investors that the Fed would not curb its stimulus too quickly. 

Investors will also focus on a speech Bernanke will deliver at the National Bureau of Economic Research after the market closes Wednesday.

Stocks had risen for four days in a row as investors became more confident about the economy after a strong June employment report.

Investors are watching earnings as companies start to report results for the second quarter, which ended 10 days ago. Analysts expect earnings growth to average 2.8 percent for the companies in the S&P 500, according to data from S&P Capital IQ.

In government bond trading, the yield on the 10-year Treasury note rose to 2.69 percent from 2.64 percent late Tuesday.

The price of crude oil jumped almost 3 percent to the highest level in 14 months after the U.S. government reported another steep decline in the nation's supplies. Oil rose $2.99 to $105.71 a barrel in New York.

The price of gold rose $1.5, or 0.1 percent, to $1,247.40 an ounce.

Among stocks making big moves:

”” Family Dollar Stores rose $5.28, or 8.3 percent, to $69.23 after the company's earnings beat analysts' forecasts.

”” Hewlett-Packard rose 44 cents, or 1.7 percent, to $25.91 after a Citigroup analyst raised his rating on the company. The analyst doubled his price target for the stock, saying the PC maker's turnaround efforts are taking hold.

””Fastenal, an industrial and construction supplies distributor, fell $1.51, or 3.2 percent, to $45.60 after the company reported that its second-quarter revenue fell short of analysts' estimates.


----------



## bigdog

Source: http://finance.yahoo.com 

Call it the Bernanke Boost.

The stock market, which has been marching higher for a week, got extra fuel Thursday after Federal Reserve Chairman Ben Bernanke said the central bank will keep supporting the economy.

The Dow Jones industrial average and Standard & Poor's 500 surged to all-time highs. And the yield on the 10-year Treasury note continued to decline as investors bought bonds. Stocks that benefit most from a continuation of low interest rates, such as homebuilders, notched some of the biggest gains. 

The chairman made the comments in a speech late Wednesday after U.S. markets had closed, saying the economy needs the Fed's easy-money policy "for the foreseeable future."

The U.S. economy needs help because unemployment is high, Bernanke said. His remarks seemed to ease investors' fears that the central bank will pull back on its economic stimulus too quickly. The Fed is currently buying $85 billion a month in bonds to keep interest rates low and to encourage spending and hiring. 

Stock index futures rose overnight. Stocks surged when the market opened Thursday and stayed high for the rest of the day.

"The Fed has made it unequivocally clear that they are not in any hurry to do anything," said Alec Young, Global Equity Strategist at S&P Capital IQ. "It's very bullish for stocks."

The S&P 500 index jumped 22.40 points, or, 1.4 percent, to 1,675.02, surpassing its previous record close of 1,669 from May 21. The index rose for a sixth straight day, its longest streak in four months.

The Dow rose 169.26 points, or 1.1 percent, to 15,460.92, above its own all-time closing high of 15,409 set May 28.

The Nasdaq composite rose 57.55 points, or 1.4 percent, to 3,578.30, its highest level in nearly 13 years.

In government bond trading, the yield on the 10-year note fell to 2.57 percent from 2.63 percent Wednesday. The yield was as high as 2.74 percent Friday after the government reported strong hiring in June. Many traders took that report as a signal that the Fed would be more likely to slow its bond purchases sooner rather than later.

The Fed has also said it plans to keep short-term rates at record lows, at least until unemployment falls to 6.5 percent. Bernanke emphasized Wednesday that the level of unemployment is a threshold, not a trigger. The central bank might decide to keep its benchmark short-term rate near zero even after unemployment falls that low. 

"It's back to the old accommodative Fed, so the markets are happy again," said Randy Frederick, Managing Director of Active Trading and Derivatives at the Schwab Center for Financial Research.

The market pulled back last month after Bernanke laid out a timetable for the Fed to wind down its bond-buying program. He said the central bank would likely ease back on its monthly purchases if the economy strengthened sufficiently. 

 *The NYSE DOW closed  	HIGHER ▲	169.26	points or ▲	1.11%	Thursday, 11 July 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,460.92	▲	169.26	▲	1.11%	
	Nasdaq___	3,578.30	▲	57.55	▲	1.63%	
	S&P_500__	1,675.02	▲	22.40	▲	1.36%	
	30_Yr_Bond	3.620	▼	-0.06	▼	-1.71%	

NYSE Volume	3,823,326,500			 		 	
Nasdaq Volume	1,689,659,000			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,543.41	▲	38.45	▲	0.59%	
	DAX_____	8,158.80	▲	92.32	▲	1.14%	
	CAC_40__	3,868.98	▲	28.45	▲	0.74%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,946.90	▲	61.50	▲	1.26%	
	Shanghai_Comp	2,072.99	▲	64.86	▲	3.23%	
	Taiwan_Weight	8,179.54	▲	167.85	▲	2.10%	
	Nikkei_225____	14,472.58	▲	55.98	▲	0.39%	
	Hang_Seng____	21,437.49	▲	532.93	▲	2.55%	
	Strait_Times___	3,246.17	▲	58.13	▲	1.82%	
	NZX_50_Index__	4,560.05	▲	3.29	▲	0.07%	

http://finance.yahoo.com/news/stocks-surge-bernanke-allays-taper-212405098.html

*Stocks surge after Bernanke allays taper fear

Stocks market rises to record high after Bernanke says Fed is in no rush to curtail stimulus*

Call it the Bernanke Boost.

The stock market, which has been marching higher for a week, got extra fuel Thursday after Federal Reserve Chairman Ben Bernanke said the central bank will keep supporting the economy.

The Dow Jones industrial average and Standard & Poor's 500 surged to all-time highs. And the yield on the 10-year Treasury note continued to decline as investors bought bonds. Stocks that benefit most from a continuation of low interest rates, such as homebuilders, notched some of the biggest gains. 

The chairman made the comments in a speech late Wednesday after U.S. markets had closed, saying the economy needs the Fed's easy-money policy "for the foreseeable future."

The U.S. economy needs help because unemployment is high, Bernanke said. His remarks seemed to ease investors' fears that the central bank will pull back on its economic stimulus too quickly. The Fed is currently buying $85 billion a month in bonds to keep interest rates low and to encourage spending and hiring. 

Stock index futures rose overnight. Stocks surged when the market opened Thursday and stayed high for the rest of the day.

"The Fed has made it unequivocally clear that they are not in any hurry to do anything," said Alec Young, Global Equity Strategist at S&P Capital IQ. "It's very bullish for stocks."

The S&P 500 index jumped 22.40 points, or, 1.4 percent, to 1,675.02, surpassing its previous record close of 1,669 from May 21. The index rose for a sixth straight day, its longest streak in four months.

The Dow rose 169.26 points, or 1.1 percent, to 15,460.92, above its own all-time closing high of 15,409 set May 28.

The Nasdaq composite rose 57.55 points, or 1.4 percent, to 3,578.30, its highest level in nearly 13 years.

In government bond trading, the yield on the 10-year note fell to 2.57 percent from 2.63 percent Wednesday. The yield was as high as 2.74 percent Friday after the government reported strong hiring in June. Many traders took that report as a signal that the Fed would be more likely to slow its bond purchases sooner rather than later.

The Fed has also said it plans to keep short-term rates at record lows, at least until unemployment falls to 6.5 percent. Bernanke emphasized Wednesday that the level of unemployment is a threshold, not a trigger. The central bank might decide to keep its benchmark short-term rate near zero even after unemployment falls that low. 

"It's back to the old accommodative Fed, so the markets are happy again," said Randy Frederick, Managing Director of Active Trading and Derivatives at the Schwab Center for Financial Research.

The market pulled back last month after Bernanke laid out a timetable for the Fed to wind down its bond-buying program. He said the central bank would likely ease back on its monthly purchases if the economy strengthened sufficiently.

On Thursday, Advanced Micro Devices was the biggest gainer in the S&P 500 after news that it the company will make chips for two big gaming devices. The company rose 47 cents, or 11.8 percent, to $4.45.

Homebuilders, which are sensitive to the outlook for interest rates, were also among top gainers. 

D.R. Horton rose $1.93, or 9.2 percent, to $22.98 and Lennar Group climbed $2.88, or 8.3 percent, to $37.44.

The housing market has benefited from low interest rates because they help make mortgages cheaper.

"The Bernanke qualifications have taken the interest rate risk off the table and now it's really about what will earnings say," said Jonathan Lewis, chief investment officer at Samson Capital Advisors. 

Corporations began reporting earnings this week for the second quarter, which ended 11 days ago. S&P Capital IQ forecast that companies in the S&P 500 will report average earnings growth of 3 percent compared with the second quarter last year.

The price of gold gained for a fourth straight day, climbing $32.50, or 2.6 percent, to $1,279.90 an ounce. Gold has rebounded this week after falling close to a three-year low.

Gold is rising because the prospect of continued stimulus from the Fed could weaken the dollar and increase the risk of inflation. That, in turn, increases the appeal of gold as an alternative investment. 

The rise in gold helped mining stocks. Newport Mining gained $1.51, or 5.7 percent, to $28.12. Freeport-McMoRan Copper & Gold rose $1.24, or 4.6 percent, to $28.53.

In other commodity trading, oil fell back from a 16-month high, dropping $1.61, or 1.5 percent, to $104.91 a barrel.

Among stocks making big moves:

”” Bridgepoint Education rose $3.31, or 26 percent, to $15.92, after the for-profit education company said its Ashford University had won accreditation. Bridgepoint, which also operates the University of the Rockies, struggled with accreditation problems for much of 2012. 

”” Rockwell Medical Technologies Inc. jumped 59 cents, or 15.7 percent, to $4.35, after the drug developer said an experimental treatment for kidney patients took a step toward winning approval.

”” Celgene rose $9.84, or 7.9 percent, $134.90 after the Swiss drugmaker said its cancer drug Revlimid met its goals in a late-stage study.

””Microsoft rose 98 cents, or 2.8 percent, to $35.69, after the company announced a major reorganization. The world's largest software maker has been struggling with a steady decline in PC demand as people turn to tablets and other mobile devices. 

By Steve Rothwell, AP Markets Writer


----------



## bigdog

Source: http://finance.yahoo.com 

It was another record day on Wall Street ”” barely. 

After spending most of Friday flat or down, stocks rallied at the last minute and closed slightly higher, just enough to post new record highs for the Dow Jones industrial average and the Standard & Poor's 500 index. 

The gains were tiny. And the new record doesn't mean much for investors, who hardly have any more money now than they did a day earlier. But it is a sign that investors believe the market's rally this year may not be over yet.

The S&P 500 has closed higher seven days in a row. The last time it did that was in March.

Investors had to look past a pessimistic outlook from UPS, which said it was seeing a slowdown in U.S. industry. And in the afternoon, Boeing shares tanked after one of its 787s caught on fire in London, reviving fears of the troubles that plane had with smoldering batteries earlier this year. 

Other economic news was mixed. Profits at big banks Wells Fargo and JP Morgan came in better than expected, and that helped financial stocks. But a University of Michigan measure of consumer sentiment came in lower than expected for this month. 

Investors will get a lot more information next week, when key reports on inflation and retail sales are due. That's also when the pace of company earnings reports picks up sharply. Results are due from the remaining big banks as well as General Electric, Intel, Microsoft and other industry bellwethers.

"This is the jump ball, this is the Lebron James of the market," said David Darst, chief investment strategist for Morgan Stanley Individual Investor Group, referring to the second-quarter earnings rush. "It's going to determine where the market goes." 

The Dow closed up 3.38 points, just 0.02 percent, at 15,464.30. The Standard & Poor's 500 index rose 5.17 points, or 0.3 percent, to 1,680.19. Both indexes also closed at all-time highs on Thursday.

The Nasdaq composite edged up 21.78 points, or 0.6 percent, to 3,600.08. It's still well short of its record high of 5,048, set in March 2000.

The Russell 2000, which is made up of smaller companies, rose 3.35 points, or 0.3 percent, to close at 1,036.52.

All the big indexes are ahead for the week.

Stocks spent most of Friday down, but not down much. Analysts believe investors are waiting for several major earnings and economic reports next week before deciding whether the rally has further to run. 

 *The NYSE DOW closed  	HIGHER ▲	3.38	points or ▲	0.02%	Friday, 12 July 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,464.30	▲	3.38	▲	0.02%	
	Nasdaq___	3,600.08	▲	21.78	▲	0.61%	
	S&P_500__	1,680.19	▲	5.17	▲	0.31%	
	30_Yr_Bond	3.650	▲	0.02	▲	0.66%	

NYSE Volume	3,302,820,000			 		 	
Nasdaq Volume	1,575,734,250			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,544.94	▲	1.53	▲	0.02%	
	DAX_____	8,212.77	▲	53.97	▲	0.66%	
	CAC_40__	3,855.09	▼	-13.89	▼	-0.36%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,957.50	▲	10.60	▲	0.21%	
	Shanghai_Comp	2,039.49	▼	-33.50	▼	-1.62%	
	Taiwan_Weight	8,220.49	▲	40.95	▲	0.50%	
	Nikkei_225____	14,506.25	▲	33.67	▲	0.23%	
	Hang_Seng____	21,277.28	▼	-160.21	▼	-0.75%	
	Strait_Times___	3,236.06	▼	-12.86	▼	-0.40%	
	NZX_50_Index__	4,568.33	▲	8.28	▲	0.18%	

http://finance.yahoo.com/news/stocks-inch-higher-setting-records-210032307.html

*Stocks inch higher, setting new records

US stocks indexes creep higher for a new record; Boeing holds back the Dow*

By Joshua Freed, AP Business Writer 

It was another record day on Wall Street ”” barely. 

After spending most of Friday flat or down, stocks rallied at the last minute and closed slightly higher, just enough to post new record highs for the Dow Jones industrial average and the Standard & Poor's 500 index. 

The gains were tiny. And the new record doesn't mean much for investors, who hardly have any more money now than they did a day earlier. But it is a sign that investors believe the market's rally this year may not be over yet.

The S&P 500 has closed higher seven days in a row. The last time it did that was in March.

Investors had to look past a pessimistic outlook from UPS, which said it was seeing a slowdown in U.S. industry. And in the afternoon, Boeing shares tanked after one of its 787s caught on fire in London, reviving fears of the troubles that plane had with smoldering batteries earlier this year. 

Other economic news was mixed. Profits at big banks Wells Fargo and JP Morgan came in better than expected, and that helped financial stocks. But a University of Michigan measure of consumer sentiment came in lower than expected for this month. 

Investors will get a lot more information next week, when key reports on inflation and retail sales are due. That's also when the pace of company earnings reports picks up sharply. Results are due from the remaining big banks as well as General Electric, Intel, Microsoft and other industry bellwethers.

"This is the jump ball, this is the Lebron James of the market," said David Darst, chief investment strategist for Morgan Stanley Individual Investor Group, referring to the second-quarter earnings rush. "It's going to determine where the market goes." 

The Dow closed up 3.38 points, just 0.02 percent, at 15,464.30. The Standard & Poor's 500 index rose 5.17 points, or 0.3 percent, to 1,680.19. Both indexes also closed at all-time highs on Thursday.

The Nasdaq composite edged up 21.78 points, or 0.6 percent, to 3,600.08. It's still well short of its record high of 5,048, set in March 2000.

The Russell 2000, which is made up of smaller companies, rose 3.35 points, or 0.3 percent, to close at 1,036.52.

All the big indexes are ahead for the week.

Stocks spent most of Friday down, but not down much. Analysts believe investors are waiting for several major earnings and economic reports next week before deciding whether the rally has further to run.

Key reports on inflation and retail sales are due next week, and the pace of company earnings reports picks up sharply. Reports are due from the remaining big banks as well as General Electric, Intel, Microsoft and other industry bellwethers.

"This is the jump ball, this is the Lebron James of the market," said David Darst, chief investment strategist for Morgan Stanley Individual Investor Group, referring to the second-quarter earnings rush. "It's going to determine where the market goes."

Anthony Conroy, managing director and head trader for ConvergEx Group, thinks it's likely that stocks will move higher, as long as second-quarter earnings reports at least match the low expectations that investors have. "The three most important things in the next couple of weeks are earnings, earnings, and earnings," he said. 

Cost-cutting boosted profits at Wells Fargo, and its stock rose 74 cents, or 1.8 percent, to $42.63. JPMorgan Chase reported a 32 percent jump in profits, but its stock fell 17 cents to $54.97. 

Conroy said JPMorgan's credit numbers were strong. "That means the consumer's out there spending and borrowing and propping up the whole economy, and that's a good thing," he said.

United Parcel Service sank $5.33, or 5.8 percent, to $86.12 after saying its second-quarter and full-year earnings will be less than analysts have been expecting because the company's customers are using cheaper shipping options. UPS also said it's seeing a slowdown in U.S. industry. 

FedEx fell, too. Its shares were down $2.11, or 2 percent, to $102.29.

Boeing dropped after a fire on a 787 parked at Heathrow Airport, and after another 787 had to divert to a different airport. Boeing struggled earlier this year after its new 787 was grounded for more than three months because of smoldering batteries, and investors are nervous about any additional problems with the plane. 

Before news of the fire broke, Boeing set a new 52-week high of $108.15 earlier Friday. The stock dropped $5.01, or 4.7 percent, to close at $101.87 on high volume. Boeing was the biggest decliner in the Dow.

Other stocks with notable moves included:

”” Gap rose 34 cents, or 0.8 percent, to $45.10. Three analysts lifted their price targets after Gap posted revenue at stores open at least a year that was better than the market was expecting.

”” WebMD jumped $6.86, or 25 percent, to $33.82 after the medical website operator sharply raised its forecast for its second-quarter results, citing strong demand from advertisers.

”” RadioShack Corp. rose 29 cents, or 11 percent, to $2.92. Investors were spooked late Thursday after a report that it had hired financial advisers. But they appeared to be reassured after the struggling electronics retailer said it has a strong balance sheet and that the "sole focus" of its discussions with advisers is making its balance sheet stronger.

The yield on the 10-year Treasury note rose slightly to 2.59 percent from 2.57 percent.

The yield has risen almost a full percentage point since early May, pushing interest rates higher for mortgages and other loans. There's a fear that higher rates could hurt housing and business borrowing.

John Fox, director of research at Fenimore Asset Management, said housing is improving, employment is improving, and retail and auto sales are good. "Is that all just going to disappear if we have a 3.5 percent Treasury bond? I don't think it will."

Crude oil rose $1.04 to close at $105.95 per barrel in the U.S. Other energy prices also rose. Gold slipped $2.30 to $1,277.60.

6089


----------



## bigdog

Source: http://finance.yahoo.com 

Boeing helped the stock market edge higher Monday, extending a scorching start to July. 

The plane maker's stock was one of the standouts as the Standard & Poor's 500 index rose for an eighth straight day, its longest streak of gains since January.

Boeing gained $3.79, or 3.7 percent, to $105.66 after it was found that batteries were not the cause of a fire on one of its 787 aircraft at London's Heathrow airport Friday. Earlier this year, smoldering batteries on two 787s caused the plane to be grounded for more than three months.

The gains continued a hot streak for the market this month. Stocks rose to record levels last week after Federal Reserve Chairman Ben Bernanke said the central bank would not ease its stimulus before the economy was ready. The central banker's comments also stemmed a rise in Treasury yields. 

"The general bias to the market is up," said David Kelly, chief global strategist at JPMorgan Funds. "You can see a clear path to economic growth in the United States." 

The Dow Jones industrial average rose 19.96 points, or 0.1 percent, to close at 15,484.26.

The Standard & Poor's 500 index rose 2.31 points, also 0.1 percent, to 1,682.50. The S&P is up 4.8 percent so far in July, putting it on track to surpass the 5 percent gain it had in January. Both the Dow and S&P are at all-time highs.

The Nasdaq composite rose 7.41 points, or 0.2 percent, to 3,607.49.

Small-company stocks had the biggest gains Monday. That's a sign investors are becoming confident in taking on more risk in exchange for the possibility of greater returns. The Russell 2000 rose 6.78 points, or 0.7 percent, to 1,043.30, bringing its gains for the year to 22.8 percent. That's far ahead of the S&P's year-to-date gain of 18 percent.

Investors will be listening to comments from Bernanke again this week for more clues about the central bank's outlook for the economy. The Fed chairman will give his semi-annual testimony to Congress on Wednesday. The central bank is currently buying $85 billion of bonds a month to keep interest rates low and to encourage borrowing and hiring. 

The pace of companies reporting earnings will also increase this week.

"We expect modest earnings gains and we expect that management teams will guide for a cautiously optimistic view in the second half," said Jim Russell, a regional investment director at US Bank.

Earnings for the second quarter will rise by an average 3.2 percent for S&P 500 companies from a year ago, according to data from S&P Capital IQ. Earnings at financial companies are expected to rise by 18.8 percent, the most of any industry group. 

 *The NYSE DOW closed  	HIGHER ▲	19.96	points or ▲	0.13%	Monday, 15 July 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,484.26	▲	19.96	▲	0.13%	
	Nasdaq___	3,607.49	▲	7.41	▲	0.21%	
	S&P_500__	1,682.50	▲	2.31	▲	0.14%	
	30_Yr_Bond	3.610	▼	-0.04	▼	-1.04%	

NYSE Volume	2,845,119,000			 		 	
Nasdaq Volume	1,484,063,500			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,586.11	▲	42.70	▲	0.65%	
	DAX_____	8,234.81	▲	22.04	▲	0.27%	
	CAC_40__	3,878.58	▲	23.49	▲	0.61%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,965.60	▲	8.10	▲	0.16%	
	Shanghai_Comp	2,059.39	▲	19.90	▲	0.98%	
	Taiwan_Weight	8,254.68	▲	34.19	▲	0.42%	
	Nikkei_225____	14,506.25	▲	33.67	▲	0.23%	
	Hang_Seng____	21,303.31	▲	26.03	▲	0.12%	
	Strait_Times___	3,236.82	▲	0.76	▲	0.02%	
	NZX_50_Index__	4,606.24	▲	37.91	▲	0.83%	

http://finance.yahoo.com/news/stocks-edge-higher-extending-hot-182651965.html

*Stocks edge higher, extending a hot start to July

A gain by Boeing helps the stock market edge higher, extending a scorching start to July*

By Steve Rothwell, AP Markets Writer

Boeing helped the stock market edge higher Monday, extending a scorching start to July. 

The plane maker's stock was one of the standouts as the Standard & Poor's 500 index rose for an eighth straight day, its longest streak of gains since January.

Boeing gained $3.79, or 3.7 percent, to $105.66 after it was found that batteries were not the cause of a fire on one of its 787 aircraft at London's Heathrow airport Friday. Earlier this year, smoldering batteries on two 787s caused the plane to be grounded for more than three months.

The gains continued a hot streak for the market this month. Stocks rose to record levels last week after Federal Reserve Chairman Ben Bernanke said the central bank would not ease its stimulus before the economy was ready. The central banker's comments also stemmed a rise in Treasury yields. 

"The general bias to the market is up," said David Kelly, chief global strategist at JPMorgan Funds. "You can see a clear path to economic growth in the United States." 

The Dow Jones industrial average rose 19.96 points, or 0.1 percent, to close at 15,484.26.

The Standard & Poor's 500 index rose 2.31 points, also 0.1 percent, to 1,682.50. The S&P is up 4.8 percent so far in July, putting it on track to surpass the 5 percent gain it had in January. Both the Dow and S&P are at all-time highs.

The Nasdaq composite rose 7.41 points, or 0.2 percent, to 3,607.49.

Small-company stocks had the biggest gains Monday. That's a sign investors are becoming confident in taking on more risk in exchange for the possibility of greater returns. The Russell 2000 rose 6.78 points, or 0.7 percent, to 1,043.30, bringing its gains for the year to 22.8 percent. That's far ahead of the S&P's year-to-date gain of 18 percent.

Investors will be listening to comments from Bernanke again this week for more clues about the central bank's outlook for the economy. The Fed chairman will give his semi-annual testimony to Congress on Wednesday. The central bank is currently buying $85 billion of bonds a month to keep interest rates low and to encourage borrowing and hiring. 

The pace of companies reporting earnings will also increase this week.

"We expect modest earnings gains and we expect that management teams will guide for a cautiously optimistic view in the second half," said Jim Russell, a regional investment director at US Bank.

Earnings for the second quarter will rise by an average 3.2 percent for S&P 500 companies from a year ago, according to data from S&P Capital IQ. Earnings at financial companies are expected to rise by 18.8 percent, the most of any industry group.

Citigroup gained Monday, leading other bank stocks higher, after reporting earnings that beat analysts' expectations for the second quarter as investment banking profits surged. The bank's stock rose $1, or 2 percent, to $51.81.

A closely watched report on U.S. retail sales Monday morning had some disappointments for investors. Americans spent more at retail businesses in June, buying more cars and trucks, furniture and clothes, but they cut back on many other purchases, a mixed sign for economic growth. Retail sales rose just 0.4 percent from May, less than analysts had forecast and less than the 0.5 percent increase the previous month. 

The market's advance was held back by news that economic growth in China, the second-biggest economy in the world, fell to the lowest since 1991, hurt by weak trade and efforts to cool a credit boom. China's economy expanded at an annual rate of 7.5 percent in the second quarter, down from 7.7 percent in the same period a year earlier. 

Slowing global growth is one of the biggest threats to this year's stock rally, said Uri Landesman, President of Platinum Partners. He predicts that stocks may be poised to slump as much as 15 percent in the coming months. Landesman said this year's market advance overstates the outlook for the economy. 

"Most of the world's economies are sucking wind," Landesman said. "It's going to be very difficult to keep (the U.S. economy) going with weak exports."

In commodities trading, the price of crude oil rose 37 cents to $106.32 a barrel. Gold rose $5.90, or 0.5 percent, to $1,283.50 an ounce. The dollar rose against the euro and the Japanese yen.

In government bond trading, the yield on the 10-year Treasury note fell to 2.55 percent from 2.58 percent Friday. The yield is used as a benchmark for many kinds of loans including home mortgages.

Among other stocks making big moves, Leap Wireless soared $8.97, or 112 percent, to $16.95 after the carrier agreed to be acquired by AT&T for $1.19 billion, or $15 a share. The deal was announced late Friday. AT&T fell 26 cents, or 0.7 percent, $35.55.


----------



## bigdog

Source: http://finance.yahoo.com 

A string of lackluster earnings reports from companies including Coca-Cola and Charles Schwab ended an eight-day winning streak for the Standard & Poor's 500 index.

Coca-Cola, the world's largest beverage maker, fell after the company said it sold less soda in its home market of North America. Retail brokerage Charles Schwab's second-quarter earnings fell short of what analysts were expecting. Marathon Petroleum fell after the fuel refiner forecast weak earnings and said its business was being hurt by renewable fuels laws.

"The expectations out there for earnings overall, they're pretty modest," said Scott Wren, senior equity strategist at Wells Fargo. "Earnings season is not going to be what drives the market from here."

The Dow Jones industrial average fell 32.41 points, 0.2 percent, to 15,451.85. The Standard & Poor's 500 index declined 6.24 points, or 0.4 percent, to 1,676.26. The Nasdaq composite dropped 8.99 points, or 0.3 percent, to 3,598.50.

Eight of the 10 industry groups in the S&P 500 fell. The declines were led by materials companies. Phone companies and technology companies were the two groups that gained.

Coke dropped 78 cents, or 1.9 percent, to $40.23 after the company reported that its second-quarter profit fell 4 percent. Charles Schwab fell 71 cents, or 3.3 percent, to $21 after its earnings came in short of analysts' expectations as expenses rose and its interest margins fell. Marathon Petroleum fell $3.17, or 4.3 percent, to $69.93.

"Expectations for earnings growth this quarter are fairly subdued," said Michael Sheldon, chief market strategist for RDM Financial Group. "However, the important thing for investors is to look ahead to the second half of the year, where earnings are supposed to pick up significantly."

Overall S&P 500 earnings are expected to grow by 3.4 percent in the second quarter from the same period a year ago, according to data from S&P Capital IQ. The rate of earnings growth is predicted to rise in the third and fourth quarters, reaching 11.6 percent in the final three months of the year. 

The stock market has climbed back to record levels following a brief slump in June, when the S&P 500 logged its first monthly decline since October on concern that the Federal Reserve would ease back on its economic stimulus too quickly. The S&P 500 gained for eight straight trading sessions through Monday, its longest winning streak since January. Had the index ended higher Tuesday, it would have marked the longest series of advances since 2004. 

The index is up 4.4 percent in July, putting it on track to log its biggest monthly gain since January, when it rose 5 percent.

Stocks got a boost last week when Bernanke said the central bank would not ease its stimulus before the economy was ready. Investors will be listening to his comments again this week for more clues about the central bank's outlook for the economy. The Fed chairman will give his semi-annual testimony to Congress on Wednesday. 

 *The NYSE DOW closed  	LOWER ▼	-32.41	points or ▼	-0.21%	Tuesday, 16 July 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15,451.85	▼	-32.41	▼	-0.21%	
	Nasdaq___	3,598.50	▼	-8.99	▼	-0.25%	
	S&P_500__	1,676.26	▼	-6.24	▼	-0.37%	
	30_Yr_Bond	3.580	▼	-0.03	▼	-0.75%	

NYSE Volume	3,341,295,750			 		 	
Nasdaq Volume	1,611,654,000			 		 	

 *Europe						**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,556.35	▼	-29.76	▼	-0.45%	
	DAX_____	8,201.05	▼	-33.76	▼	-0.41%	
	CAC_40__	3,851.03	▼	-27.55	▼	-0.71%	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4,968.60	▲	3.00	▲	0.06%	
	Shanghai_Comp	2,065.72	▲	6.33	▲	0.31%	
	Taiwan_Weight	8,260.11	▲	5.43	▲	0.07%	
	Nikkei_225____	14,599.12	▲	92.87	▲	0.64%	
	Hang_Seng____	21,312.38	▲	9.07	▲	0.04%	
	Strait_Times___	3,224.96	▼	-11.86	▼	-0.37%	
	NZX_50_Index__	4,576.54	▼	-29.70	▼	-0.64%	

http://finance.yahoo.com/news/stocks-decline-earnings-coca-cola-155305451.html

*Stocks decline on earnings; Coca-Cola drops

US stocks decline on disappointing earnings reports; Coca-Cola drops as soda sales fall*

By Steve Rothwell, AP Markets Writer

A string of lackluster earnings reports from companies including Coca-Cola and Charles Schwab ended an eight-day winning streak for the Standard & Poor's 500 index.

Coca-Cola, the world's largest beverage maker, fell after the company said it sold less soda in its home market of North America. Retail brokerage Charles Schwab's second-quarter earnings fell short of what analysts were expecting. Marathon Petroleum fell after the fuel refiner forecast weak earnings and said its business was being hurt by renewable fuels laws.

"The expectations out there for earnings overall, they're pretty modest," said Scott Wren, senior equity strategist at Wells Fargo. "Earnings season is not going to be what drives the market from here."

The Dow Jones industrial average fell 32.41 points, 0.2 percent, to 15,451.85. The Standard & Poor's 500 index declined 6.24 points, or 0.4 percent, to 1,676.26. The Nasdaq composite dropped 8.99 points, or 0.3 percent, to 3,598.50.

Eight of the 10 industry groups in the S&P 500 fell. The declines were led by materials companies. Phone companies and technology companies were the two groups that gained.

Coke dropped 78 cents, or 1.9 percent, to $40.23 after the company reported that its second-quarter profit fell 4 percent. Charles Schwab fell 71 cents, or 3.3 percent, to $21 after its earnings came in short of analysts' expectations as expenses rose and its interest margins fell. Marathon Petroleum fell $3.17, or 4.3 percent, to $69.93.

"Expectations for earnings growth this quarter are fairly subdued," said Michael Sheldon, chief market strategist for RDM Financial Group. "However, the important thing for investors is to look ahead to the second half of the year, where earnings are supposed to pick up significantly."

Overall S&P 500 earnings are expected to grow by 3.4 percent in the second quarter from the same period a year ago, according to data from S&P Capital IQ. The rate of earnings growth is predicted to rise in the third and fourth quarters, reaching 11.6 percent in the final three months of the year. 

The stock market has climbed back to record levels following a brief slump in June, when the S&P 500 logged its first monthly decline since October on concern that the Federal Reserve would ease back on its economic stimulus too quickly. The S&P 500 gained for eight straight trading sessions through Monday, its longest winning streak since January. Had the index ended higher Tuesday, it would have marked the longest series of advances since 2004. 

The index is up 4.4 percent in July, putting it on track to log its biggest monthly gain since January, when it rose 5 percent.

Stocks got a boost last week when Bernanke said the central bank would not ease its stimulus before the economy was ready. Investors will be listening to his comments again this week for more clues about the central bank's outlook for the economy. The Fed chairman will give his semi-annual testimony to Congress on Wednesday.

That testimony may have more impact on the stock market this week than any earnings reports, said Wells Fargo's Wren.

Esther George, the President of Kansas City branch of the Fed, and a voting member of the committee that sets the Fed's monetary policy, said Tuesday that the central bank should cut back on its stimulus as the labor market begins to recover. The central bank is currently buying $85 billion of bonds a month to keep interest rates low and to encourage borrowing and hiring.

"It is time to adjust those purchases," George said in an interview on Fox Business News. "Sooner is appropriate ... because we have a long way to go if we are going to do this in a gradual and a systematic way."

In government bond trading, the yield on the 10-year Treasury note was unchanged from 2.54 percent Monday. The yield, which moves inversely to its price, has fallen since surging as high as 2.74 percent July 5.

In commodities trading, the price of crude oil fell 32 cents, or 0.3 percent, to $106 a barrel and gold rose $6.90, or 0.5 percent, to $1,290.40 an ounce.

The dollar fell against the euro and the Japanese yen.

Among other stocks making big moves:

”” Heidrick & Struggles International dropped $3.07, or 17 percent, to $14.79 after the executive search firm said it is longer pursuing a sale of its business and that its CEO is stepping down.

”” Ford fell 52 cents, or 3 percent, to $16.60 after Goldman Sachs removed the carmaker from its "conviction buy list" due to a lack of catalysts to push the company's stock higher in the near future. Ford has gained 28 percent this year.

”” Goldman Sachs dropped $2.76, or 1.7 percent, to $160.24 as investors focused on the outlook for the bank's regulatory environment, even after the bank said its profit doubled in the second quarter.


----------



## bigdog

Source: http://finance.yahoo.com 

 Some soothing words from Federal Reserve Chairman Ben Bernanke pushed the stock market to slender gains on Wednesday. Higher earnings for several major companies also helped.

Bernanke said that the U.S. central bank had no firm timetable for cutting back on its bond purchases. The Fed would consider reducing its stimulus program if the economy improves, but Bernanke emphasized in his testimony to Congress that the reductions were "by no means on a preset course."

The central bank is currently buying $85 billion of bonds a month to keep interest rates low and encourage borrowing. Concerns that the Fed was poised to start easing back on that stimulus before the economy had recovered sufficiently caused the stock market to pull back in June.

The concern has been that "the Fed was going to dial the (stimulus) down to zero regardless how the economy was doing," said Phil Orlando, chief market strategist at Federated Investors. "I don't think that's the case at all...the Fed is going to evaluate the economic landscape," before it cuts its stimulus, Orlando said.

The Standard & Poor's 500 index climbed 4.65 points, or 0.3 percent, to 1,680.91. The Nasdaq composite rose 11.50 points, or 0.3 percent, to 3,610.

The Dow Jones industrial average rose 18.67 points, or 0.1 percent, to 15,470.52.

The Dow was held back by American Express and Caterpillar. The credit card company's stock slumped $1.47, or 1.9 percent, to $76.80 after European regulators proposed to cap the lucrative processing fees the card company imposes.

Caterpillar fell $1.50, or 1.7 percent, to $86.67 after prominent short-seller Jim Chanos said he was shorting the stock because it was exposed to a slump in the mining industry. In a presentation at the 'Delivering Alpha' conference, broadcast by CNBC, Chanos said Caterpillar was "tied to the wrong products, at the wrong time."

Bernanke's comments had a stronger impact on the Treasury market than on the stock market.

The yield on the 10-year Treasury note fell to 2.49 percent from 2.53 percent late Tuesday as investors bought U.S. government bonds. The yield has been declining since July 5, when it surged to 2.74 percent after the government reported that hiring was strong in June.

If Treasury yields climb too fast, it worries stock investors because of the impact that rising interest rates have on the wider economy. For example, higher mortgage rates, which are linked to Treasury yields, would slow demand for homes.

The stock market has climbed back to record levels in July following its brief slump in June, when the S&P 500 logged its first monthly decline since October on concern that the Federal Reserve would ease back on its economic stimulus too quickly. The S&P 500 has gained 4.7 percent in July after falling 1.5 percent in June. It climbed to a record 1,682 on Monday.

The index is up 17.9 percent this year, and stocks could head higher still as the economy improves in the second half of the year, says Rob Lutts, chief investment officer at Cabot Money Management.

"Expect better things," said Lutts. "The market's going to churn its way higher from here."

Investors are also keeping an eye on company earnings during one of the busiest weeks for second-quarter profit reports. 

  *The NYSE DOW closed  	HIGHER ▲	18.67	points or ▲	0.0012	41472.34117	**
  Symbol …........Last ......Change.....	0	*	0	0	0	
 	Dow_Jones	15470.52	▲	18.67	▲	0.0012	
 	Nasdaq___	3610	▲	11.5	▲	0.0032	
 	S&P_500__	1680.91	▲	4.65	▲	0.0028	
 	30_Yr_Bond	3.57	▼	-0.01	▼	-0.0033	

NYSE Volume	NYSE Volume	 3,463,524,000 	 	 	 	 	  	 
Nasdaq Volume	Nasdaq Volume	 1,585,187,880 						

  *Europe	 	 	 	 	 	**
  Symbol... .....Last ….....Change....... * 
 	FTSE_100	6571.93	▲	15.58	▲	0.0024	
 	DAX_____	8254.72	▲	53.67	▲	0.0065	
 	CAC_40__	3872.02	▲	20.99	▲	0.0055	

  *Asia Pacific						**
  Symbol...... ….....Last .....Change…...... * 
 	ASX_All_Ord__	4966.5	▼	-2.1	▼	-0.0004	
 	Shanghai_Comp	2044.92	▼	-20.8	▼	-0.0101	
 	Taiwan_Weight	8258.95	▼	-1.16	▼	-0.0001	
 	Nikkei_225____	14615.04	▲	15.92	▲	0.0011	
 	Hang_Seng____	21371.87	▲	59.49	▲	0.0028	
 	Strait_Times___	3208.33	▼	-16.63	▼	-0.0052	
 	NZX_50_Index__	4578.97	▲	2.43	▲	0.0005	

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Stocks edge up as Bernanke reassures on stimulus

Stocks edge higher on Wall Street; Bernanke says no "preset course" for stimulus reduction*

By Steve Rothwell, AP Markets Writer

Some soothing words from Federal Reserve Chairman Ben Bernanke pushed the stock market to slender gains on Wednesday. Higher earnings for several major companies also helped.

Bernanke said that the U.S. central bank had no firm timetable for cutting back on its bond purchases. The Fed would consider reducing its stimulus program if the economy improves, but Bernanke emphasized in his testimony to Congress that the reductions were "by no means on a preset course."

The central bank is currently buying $85 billion of bonds a month to keep interest rates low and encourage borrowing. Concerns that the Fed was poised to start easing back on that stimulus before the economy had recovered sufficiently caused the stock market to pull back in June.

The concern has been that "the Fed was going to dial the (stimulus) down to zero regardless how the economy was doing," said Phil Orlando, chief market strategist at Federated Investors. "I don't think that's the case at all...the Fed is going to evaluate the economic landscape," before it cuts its stimulus, Orlando said.

The Standard & Poor's 500 index climbed 4.65 points, or 0.3 percent, to 1,680.91. The Nasdaq composite rose 11.50 points, or 0.3 percent, to 3,610.

The Dow Jones industrial average rose 18.67 points, or 0.1 percent, to 15,470.52.

The Dow was held back by American Express and Caterpillar. The credit card company's stock slumped $1.47, or 1.9 percent, to $76.80 after European regulators proposed to cap the lucrative processing fees the card company imposes.

Caterpillar fell $1.50, or 1.7 percent, to $86.67 after prominent short-seller Jim Chanos said he was shorting the stock because it was exposed to a slump in the mining industry. In a presentation at the 'Delivering Alpha' conference, broadcast by CNBC, Chanos said Caterpillar was "tied to the wrong products, at the wrong time."

Bernanke's comments had a stronger impact on the Treasury market than on the stock market.

The yield on the 10-year Treasury note fell to 2.49 percent from 2.53 percent late Tuesday as investors bought U.S. government bonds. The yield has been declining since July 5, when it surged to 2.74 percent after the government reported that hiring was strong in June.

If Treasury yields climb too fast, it worries stock investors because of the impact that rising interest rates have on the wider economy. For example, higher mortgage rates, which are linked to Treasury yields, would slow demand for homes.

The stock market has climbed back to record levels in July following its brief slump in June, when the S&P 500 logged its first monthly decline since October on concern that the Federal Reserve would ease back on its economic stimulus too quickly. The S&P 500 has gained 4.7 percent in July after falling 1.5 percent in June. It climbed to a record 1,682 on Monday.

The index is up 17.9 percent this year, and stocks could head higher still as the economy improves in the second half of the year, says Rob Lutts, chief investment officer at Cabot Money Management.

"Expect better things," said Lutts. "The market's going to churn its way higher from here."

Investors are also keeping an eye on company earnings during one of the busiest weeks for second-quarter profit reports.

Bank of America rose 39 cents, or 2.8 percent, to $14.31 after it reported surging earnings for the period, helped by cost-cutting and investment banking gains. Bank of New York Mellon gained 57 cents, or 1.9 percent, to $30.92, after the bank posted earnings that beat analysts' expectations. Net income surged in the second quarter as market conditions improved and it collected more fees for managing investments.

Banks and financial companies are expected to report the strongest earnings growth of all S&P 500 companies, according to data from S&P Capital IQ. The growth for the sector is expected to reach almost 20 percent, according to the data provider. That compares to the average growth of 3.4 percent forecast for all companies.

In commodities trading, the price of crude oil rose 48 cents to $106.48 a barrel. Gold fell $12.90, or 1 percent, to $1,277.50 an ounce.

The dollar rose against the euro and the Japanese yen.

Among other stocks making big moves Wednesday:

”” Yahoo rose $2.78, or 10.3 percent, to $29.66 after the company reassured investors that it would keep buying back its own stock. The internet company had already spent $3.6 billion buying back about 190 million of its shares since last year. The stock is trading at its highest in more than five years.

”” DuPont rose $2.87, or 5.3 percent, to $57.25, after the activist investor Nelson Peltz told CNBC that his fund had bought a big stake in the company. Peltz was also speaking at the Delivering Alpha conference.

”” Mattel fell $3.17, or 6.8 percent, to $43.16 after its second-quarter net income fell 24 percent, hurt by weak sales in North America and continued softness in Barbie sales, as well as an asset impairment charge.

”” St. Jude Medical surged $2.54, or 5.2 percent, to $51 after the medical device maker reported better-than-expected second-quarter earnings on higher sales of its heart-shocking implants.


----------



## bigdog

Source: http://finance.yahoo.com 

Earnings gains at major U.S. companies and encouraging economic news pushed U.S. stocks to record levels Thursday.

A drop in claims for unemployment benefits signaled a healthier economy and encouraged investors to buy stocks. The Federal Reserve Bank of Philadelphia said manufacturing in its region grew at the fastest pace in more than two years this month.

Among companies reporting second-quarter earnings, Morgan Stanley was one of the standouts, rising $1.16, or 4.4 percent, to $27.70. The New York bank reported sharply higher earnings driven by investment banking gains and said it planned to spend $500 million buying back its own stock. IBM rose $3.44, or 1.8 percent, to $197.99 after its profit beat analysts' forecasts as software sales grew.

Energy companies rose after the price of oil shot up to a 16-month high on signs that the economy is improving. Technology stocks lagged the market after lackluster results from eBay and Intel. Industry bellwethers Google and Microsoft both plunged 5 percent in post-market trading after reporting disappointing earnings after the close.

The stock market is back at record levels after pulling back in June amid concerns that the Fed was poised to reduce its stimulus program. The S&P 500 has gained 5.2 percent this month and is up 18.5 percent for the year, putting it on track to log its best annual performance since 2009, when it rose 23.5 percent.

The Federal Reserve's $85 billion of monthly bond purchases, intended to hold down long-term interest rates, has been a major factor supporting the rally in stocks. Fed Chairman Ben Bernanke told the House Financial Services Committee Wednesday that there was no "preset course" for ending the stimulus and that any change would depend on how well the economy is doing. Investors have worried that the central bank might reduce its stimulus before the economy was strong enough. Bernanke repeated the comments to the Senate Banking Committee Thursday.

"The economic data continues to be solid and there's less concern that the Fed is going to take away the punch bowl before the economy is healthy enough to handle it," said Alec Young, a global equity strategist at S&P Capital IQ. "On balance, earnings aren't great but they're coming in ahead of expectations."

The Standard & Poor's 500 index climbed 8.46 points, or 0.5 percent, to 1,689.37. The index has gained for 10 of the last 11 days.

The Dow Jones industrial average rose 78.02 points, or 0.5 percent, to 15,548.54. The Dow's gains were led by IBM and UnitedHealth Group, which reported better earnings than Wall Street analysts were expecting.

The Nasdaq composite edged up 1.28 points, just 0.04 percent, to 3,611.28. The Nasdaq was held back by weak earnings reports from several major technology companies. 

 *The NYSE DOW closed  	HIGHER ▲	78.02	points or ▲	0.005	41473.33166	**
 Symbol …........Last ......Change.....	0	*	0	0	0	
	Dow_Jones	15548.54	▲	78.02	▲	0.005	
	Nasdaq___	3611.28	▲	1.28	▲	0.0004	
	S&P_500__	1689.37	▲	8.46	▲	0.005	
	30_Yr_Bond	3.63	▲	0.06	▲	0.0162	

NYSE Volume	 3,729,243,500 	 	 	 	 	  	 
Nasdaq Volume	 1,739,246,880 						

 *Europe	 	 	 	 	 	**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6634.36	▲	62.43	▲	0.0095	
	DAX_____	8337.09	▲	82.37	▲	0.01	
	CAC_40__	3927.79	▲	55.77	▲	0.0144	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4976.9	▲	10.4	▲	0.0021	
	Shanghai_Comp	2023.4	▼	-21.53	▼	-0.0105	
	Taiwan_Weight	8194.88	▼	-64.07	▼	-0.0078	
	Nikkei_225____	14808.5	▲	193.46	▲	0.0132	
	Hang_Seng____	21345.22	▼	-26.65	▼	-0.0012	
	Strait_Times___	3218.2	▲	9.87	▲	0.0031	
	NZX_50_Index__	4563.38	▼	-15.59	▼	-0.0034	

http://finance.yahoo.com/news/earnings-gains-drive-stocks-higher-150011181.html

*Earnings gains drive stocks higher on Wall Street

Earnings gains, encouraging economic reports drive stocks higher; Oil boosts energy stocks*

By Steve Rothwell, AP Markets Writer 

Earnings gains at major U.S. companies and encouraging economic news pushed U.S. stocks to record levels Thursday.

A drop in claims for unemployment benefits signaled a healthier economy and encouraged investors to buy stocks. The Federal Reserve Bank of Philadelphia said manufacturing in its region grew at the fastest pace in more than two years this month.

Among companies reporting second-quarter earnings, Morgan Stanley was one of the standouts, rising $1.16, or 4.4 percent, to $27.70. The New York bank reported sharply higher earnings driven by investment banking gains and said it planned to spend $500 million buying back its own stock. IBM rose $3.44, or 1.8 percent, to $197.99 after its profit beat analysts' forecasts as software sales grew.

Energy companies rose after the price of oil shot up to a 16-month high on signs that the economy is improving. Technology stocks lagged the market after lackluster results from eBay and Intel. Industry bellwethers Google and Microsoft both plunged 5 percent in post-market trading after reporting disappointing earnings after the close.

The stock market is back at record levels after pulling back in June amid concerns that the Fed was poised to reduce its stimulus program. The S&P 500 has gained 5.2 percent this month and is up 18.5 percent for the year, putting it on track to log its best annual performance since 2009, when it rose 23.5 percent.

The Federal Reserve's $85 billion of monthly bond purchases, intended to hold down long-term interest rates, has been a major factor supporting the rally in stocks. Fed Chairman Ben Bernanke told the House Financial Services Committee Wednesday that there was no "preset course" for ending the stimulus and that any change would depend on how well the economy is doing. Investors have worried that the central bank might reduce its stimulus before the economy was strong enough. Bernanke repeated the comments to the Senate Banking Committee Thursday.

"The economic data continues to be solid and there's less concern that the Fed is going to take away the punch bowl before the economy is healthy enough to handle it," said Alec Young, a global equity strategist at S&P Capital IQ. "On balance, earnings aren't great but they're coming in ahead of expectations."

The Standard & Poor's 500 index climbed 8.46 points, or 0.5 percent, to 1,689.37. The index has gained for 10 of the last 11 days.

The Dow Jones industrial average rose 78.02 points, or 0.5 percent, to 15,548.54. The Dow's gains were led by IBM and UnitedHealth Group, which reported better earnings than Wall Street analysts were expecting.

The Nasdaq composite edged up 1.28 points, just 0.04 percent, to 3,611.28. The Nasdaq was held back by weak earnings reports from several major technology companies.

eBay fell $3.86, or 6.7 percent, to $53.52 after its CEO John Donahoe said late Wednesday that economic weakness in Europe and Korea will "continue to be a challenge" in the second half of the year.

Intel fell 91 cents, or 3.8 percent, to $23.24 after the world's largest maker of computer chips predicted flat sales amid a decline in PC sales. The company's earnings and revenue fell in the second quarter.

The weak results are in line with what's expected to be a weak second-quarter earnings season for the U.S. technology industry. Profit growth is expected to contract from a year ago.

Companies in the S&P 500 are expected to report profit growth of 3.7 percent for the quarter.

The S&P 500 has advanced for nine of the last 10 months. During that period the only significant setback came between May 21 and June 24, when the index fell 5 percent on concern the Fed was set to pull back on its stimulus. The market's unrelenting march higher is starting to concern some investors.

"It doesn't quite feel right going up in a straight line, pretty much since last November," said Michael Weiner, Chief Investment Officer at Unified Trust, a wealth management firm. "It's really unusual to not have a decent correction."

A correction is typically defined as decline of between 10 and 20 percent.

In government bond trading, the yield on the 10-year note edged up to 2.54 percent from 2.49 percent late Wednesday.

In commodities trading, the price of oil rose $1.56, or 1.5 percent, to $108.04 a barrel. The price of gold gained $6.70, or 0.5 percent, to $1,284.20 an ounce.

The dollar rose against the euro and the Japanese yen.

Among other stocks making big moves.

”” UnitedHealth Group Inc., the nation's largest health insurer, surged $4.32, or 6.5 percent, to $70.55 after reporting earnings that beat analysts' estimates.

”” Johnson Controls Inc., which makes heating and ventilation systems for buildings, surged $3.09, or 8.3 percent, to $40.43 after the company said its fiscal third-quarter net income climbed 33 percent as revenue improved.

”” Dell Inc. rose 24 cents, or 1.9 percent, to $13.12, after the company delayed a vote on founder Michael Dell's plan to take the computer maker private. Activist investor Carl Icahn and the Southeastern Asset Management fund, which own 13 percent of the company combined, have made a competing proposal.

”” Sherwin-Williams fell $15.25, or 8.3 percent, to $167.94, after the paint and coatings maker announced disappointing second-quarter results and issued a weak outlook for the current quarter. The company also said Mexican regulators had rejected its bid to buy a paint company there.


----------



## bigdog

Source: http://finance.yahoo.com 

A bad day for technology stocks Friday slowed a recent surge in the stock market.

Microsoft led the slump in tech, falling the most in more than four years after the company wrote off nearly $1 billion on its new tablet computer and reported declining revenue for its Windows operating system. Google dropped after its revenue fell below analysts' forecasts, partly because the Internet search leader's ad prices took an unexpected turn lower.

With tech stocks falling, the Standard & Poor's 500 index eked out a gain of 2.72 points, or 0.2 percent, to an all-time high of 1,692.09. The S&P 500 has rebounded after a decline last month and is up 5.3 percent in July.

Despite the market's broad advance, a growing list of poor tech results is raising concerns about the strength of the economy and the stock market. Intel and eBay also reported weak results this week, and chipmaker Advanced Micro reported a second-quarter loss because of a worldwide slump in PC demand.

Technology "has definitely been a sector that people have been expecting big things from and it has not delivered," said Randy Frederick, Managing Director of Active Trading & Derivatives at the Schwab Center for Financial Research.

The Dow Jones industrial average closed down 4.80 points, or 0.03 percent, to 15,543.71. If not for the declines in Microsoft, Hewlett-Packard and IBM, the index would have gained about 70 points. 

Even General Electric's brighter outlook for the U.S. economy on Friday was overshadowed by the tech slump.

The technology-heavy Nasdaq composite fell 23.66 points, or 0.7 percent, to 3,587.61. The index was the only major market benchmark to end the week lower, falling 0.4 percent.

Technology stocks in the S&P 500 have lagged the S&P 500 this year, gaining only 8.5 percent, versus 18.6 percent for the broader index. The industry is one of four of the 10 sectors in the S&P 500 that are expected to see earnings growth contract in the second quarter.

Microsoft dropped $4.04, or 11.4 percent, to $31.40 after reporting its earnings late Thursday. That's the biggest one-day decline since the stock slumped 11.7 percent in January 2009. Google fell $14.08, or 1.5 percent, $896.60. It also posted earnings late Thursday. 

The stock market has risen sharply in July after the Federal Reserve reassured investors it wouldn't pull back on its stimulus before the economy is strong enough. The U.S. central bank is currently buying $85 billion in bonds every month to keep long-term interest rates low and to encourage borrowing and hiring. 							

 *The NYSE DOW closed  	LOWER ▼	-4.8	points or ▼	-0.0003	41474.34098	**
 Symbol …........Last ......Change.....	0	*	0	0	0	
	Dow_Jones	15543.74	▼	-4.8	▼	-0.0003	
	Nasdaq___	3587.61	▼	-23.66	▼	-0.0066	
	S&P_500__	1692.09	▲	2.72	▲	0.0016	
	30_Yr_Bond	3.57	▼	-0.06	▼	-0.016	

NYSE Volume	 3,538,077,500 	 	 	 	 	  	 
Nasdaq Volume	 1,810,311,500 						

 *Europe	 	 	 	 	 	**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6630.67	▼	-3.69	▼	-0.0006	
	DAX_____	8331.57	▼	-5.52	▼	-0.0007	
	CAC_40__	3925.32	▼	-2.47	▼	-0.0006	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4959.4	▼	-17.5	▼	-0.0035	
	Shanghai_Comp	1992.65	▼	-30.75	▼	-0.0152	
	Taiwan_Weight	8062.03	▼	-132.85	▼	-0.0162	
	Nikkei_225____	14589.91	▼	-218.59	▼	-0.0148	
	Hang_Seng____	21362.42	▲	17.2	▲	0.0008	
	Strait_Times___	3213.26	▼	-4.94	▼	-0.0015	
	NZX_50_Index__	4538.31	▼	-25.08	▼	-0.0055	

http://finance.yahoo.com/news/tech-...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Tech slump holds back US stocks; S&P 500 edges up**

US stocks held back by weak Google, Microsoft earnings; S&P 500 ekes out another record high*

By Steve Rothwell, AP Markets Writer

A bad day for technology stocks Friday slowed a recent surge in the stock market.

Microsoft led the slump in tech, falling the most in more than four years after the company wrote off nearly $1 billion on its new tablet computer and reported declining revenue for its Windows operating system. Google dropped after its revenue fell below analysts' forecasts, partly because the Internet search leader's ad prices took an unexpected turn lower.

With tech stocks falling, the Standard & Poor's 500 index eked out a gain of 2.72 points, or 0.2 percent, to an all-time high of 1,692.09. The S&P 500 has rebounded after a decline last month and is up 5.3 percent in July.

Despite the market's broad advance, a growing list of poor tech results is raising concerns about the strength of the economy and the stock market. Intel and eBay also reported weak results this week, and chipmaker Advanced Micro reported a second-quarter loss because of a worldwide slump in PC demand.

Technology "has definitely been a sector that people have been expecting big things from and it has not delivered," said Randy Frederick, Managing Director of Active Trading & Derivatives at the Schwab Center for Financial Research.

The Dow Jones industrial average closed down 4.80 points, or 0.03 percent, to 15,543.71. If not for the declines in Microsoft, Hewlett-Packard and IBM, the index would have gained about 70 points. 

Even General Electric's brighter outlook for the U.S. economy on Friday was overshadowed by the tech slump.

The technology-heavy Nasdaq composite fell 23.66 points, or 0.7 percent, to 3,587.61. The index was the only major market benchmark to end the week lower, falling 0.4 percent.

Technology stocks in the S&P 500 have lagged the S&P 500 this year, gaining only 8.5 percent, versus 18.6 percent for the broader index. The industry is one of four of the 10 sectors in the S&P 500 that are expected to see earnings growth contract in the second quarter.

Microsoft dropped $4.04, or 11.4 percent, to $31.40 after reporting its earnings late Thursday. That's the biggest one-day decline since the stock slumped 11.7 percent in January 2009. Google fell $14.08, or 1.5 percent, $896.60. It also posted earnings late Thursday. 

The stock market has risen sharply in July after the Federal Reserve reassured investors it wouldn't pull back on its stimulus before the economy is strong enough. The U.S. central bank is currently buying $85 billion in bonds every month to keep long-term interest rates low and to encourage borrowing and hiring. 

In government bond trading, the yield on the 10-year Treasury note fell to 2.48 percent from 2.53 percent late Thursday. The yield has fallen from 2.74 percent on July 5, when the government reported strong hiring.

The pullback in bond yields should help stocks sustain their rally because it makes them look more attractive compared to bonds, said Paul Zemsky, head of multi-asset strategies for ING U.S. Investment Management. Lower interest rates should also support the housing market by holding down mortgage rates.

"A lot of the fears that had come from these higher rates are abating," Zemsky said. "Rates have come back down and that's good."

The price of crude oil edged up a penny to $108.05 a barrel. The price of gold climbed $8.70 to $1,292.90 an ounce.

Among other stocks making big moves:

”” General Electric rose $1.09, or 4.6 percent, to $24.72 after posting a slight gain in net income in the second quarter. GE also said its U.S. operations are picking up steam. The results were better than analysts had forecast. 

”” Chipotle Mexican Grill climbed $32.22, or 8.6 percent, to $408.90 after the Mexican fast-food chain reported results that beat analysts' expectations.

”” Whirlpool surged $9.54, or 8 percent, $128.91 after its second-quarter net income soared 75 percent as demand improved for its appliances. Whirlpool also benefited from some tax credits.

6713


----------



## bigdog

Source: http://finance.yahoo.com 

Mining companies and banks helped the stock market overcome some disappointing quarterly performances on Monday.

Poor second-quarter results from a handful of large U.S. companies weighed on stocks. McDonald's fell after it reported lower global sales and warned of a tough year ahead. Media company Gannett dropped after its revenues fell short of financial analysts' expectations. 

But gold and copper prices boosted mining companies, and that helped nudge the market to another all-time high.

Investors are looking ahead a busy week of corporate earnings. More than 150 companies in the Standard & Poor's 500 stock index are reporting quarterly earnings over the next four days.

For the most part, corporations have reported results that have beaten analysts' expectations, though there have been some big letdowns. On Friday, Microsoft plunged after it reported declining revenue and a big write-off on its new tablet computer. Coca-Cola slumped last Tuesday after the company said it sold less soda in North America.

"Earnings are not stellar," said Brad Reynolds, chief investment officer at investment adviser LJPR. "It just seems that the market is ok with that." 

Investors were more than OK with gold Monday. Its price climbed above $1,300 for first time in a month, giving mining stocks a big lift.

Gold gained $43.10, or 3.3 percent, to $1,336 an ounce, its biggest gain in more than a year. Copper rose 4 cents, or 1.3 percent, to $3.19 per pound.

Among mining companies, Newmont Mining rose $1.66, or 5.8 percent, to $30.35. Freeport-McMoran Copper & Gold gained 59 cents, or 2.1 percent, to $29.15.

Gold had plunged earlier in the year because investors thought the Federal Reserve was close to ending its economic stimulus. Gold is now advancing on speculation that the Fed could continue the stimulus for longer than previously thought. That increases the chance of higher inflation and weakens the dollar. When the dollar falls, gold becomes more attractive as an alternative investment.

The S&P 500 index rose three points, or 0.2 percent, to 1,695.53 on Monday. The index is at an all-time high, though trading volumes were lower than average.

Five of the 10 industry group in the S&P 500 rose. Gains were led by financial companies, which have posted some of the strongest earning reports for the quarter so far, and are expected to report average earnings growth of 23 percent for the period. Bank of America added 17 cents, or 1.2 percent, to $14.92.

The Dow Jones industrial rose nearly 1.8 points, or 0.01 percent, to 15,545.55. McDonald's slump weighed on the index. The restaurant chain's stock fell $2.69, or 2.7 percent, to $97.58.

The Nasdaq composite climbed 12.77 points, or 0.4 percent, to 3,600.39. 							

 *The NYSE DOW closed  	HIGHER ▲	1.81	points or ▲	0.01% on Monday, 22 July 2013 		**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15545.55	▲	1.81	▲	0.0001	
	Nasdaq___	3600.39	▲	12.77	▲	0.0036	
	S&P_500__	1695.53	▲	3.44	▲	0.002	
	30_Yr_Bond	3.55	▼	-0.02	▼	-0.0048	

NYSE Volume	 3,065,339,250 	 	 	 	 	  	 
Nasdaq Volume	 1,482,267,000 						

 *Europe	 	 	 	 	 	**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6623.17	▼	-11.19	▼	-0.0017	
	DAX_____	8331.06	▼	-0.51	▼	-0.0001	
	CAC_40__	3939.92	▲	14.6	▲	0.0037	

 *Asia Pacific						**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4988.9	▲	29.5	▲	0.0059	
	Shanghai_Comp	2004.76	▲	12.11	▲	0.0061	
	Taiwan_Weight	8105.45	▲	43.42	▲	0.0054	
	Nikkei_225____	14658.04	▲	68.13	▲	0.0047	
	Hang_Seng____	21416.5	▲	54.08	▲	0.0025	
	Strait_Times___	3234.35	▲	21.09	▲	0.0066	
	NZX_50_Index__	4554.04	▲	15.73	▲	0.0035	

http://finance.yahoo.com/news/p-500-edges-higher-helped-185636124.html

*S&P 500 edges higher, helped by gold miners

S&P 500 edges higher as rise in gold mining stocks makes up for earnings disappointments*

By Steve Rothwell, Markets Writer

Mining companies and banks helped the stock market overcome some disappointing quarterly performances on Monday.

Poor second-quarter results from a handful of large U.S. companies weighed on stocks. McDonald's fell after it reported lower global sales and warned of a tough year ahead. Media company Gannett dropped after its revenues fell short of financial analysts' expectations. 

But gold and copper prices boosted mining companies, and that helped nudge the market to another all-time high.

Investors are looking ahead a busy week of corporate earnings. More than 150 companies in the Standard & Poor's 500 stock index are reporting quarterly earnings over the next four days.

For the most part, corporations have reported results that have beaten analysts' expectations, though there have been some big letdowns. On Friday, Microsoft plunged after it reported declining revenue and a big write-off on its new tablet computer. Coca-Cola slumped last Tuesday after the company said it sold less soda in North America.

"Earnings are not stellar," said Brad Reynolds, chief investment officer at investment adviser LJPR. "It just seems that the market is ok with that." 

Investors were more than OK with gold Monday. Its price climbed above $1,300 for first time in a month, giving mining stocks a big lift.

Gold gained $43.10, or 3.3 percent, to $1,336 an ounce, its biggest gain in more than a year. Copper rose 4 cents, or 1.3 percent, to $3.19 per pound.

Among mining companies, Newmont Mining rose $1.66, or 5.8 percent, to $30.35. Freeport-McMoran Copper & Gold gained 59 cents, or 2.1 percent, to $29.15.

Gold had plunged earlier in the year because investors thought the Federal Reserve was close to ending its economic stimulus. Gold is now advancing on speculation that the Fed could continue the stimulus for longer than previously thought. That increases the chance of higher inflation and weakens the dollar. When the dollar falls, gold becomes more attractive as an alternative investment.

The S&P 500 index rose three points, or 0.2 percent, to 1,695.53 on Monday. The index is at an all-time high, though trading volumes were lower than average.

Five of the 10 industry group in the S&P 500 rose. Gains were led by financial companies, which have posted some of the strongest earning reports for the quarter so far, and are expected to report average earnings growth of 23 percent for the period. Bank of America added 17 cents, or 1.2 percent, to $14.92.

The Dow Jones industrial rose nearly 1.8 points, or 0.01 percent, to 15,545.55. McDonald's slump weighed on the index. The restaurant chain's stock fell $2.69, or 2.7 percent, to $97.58.

The Nasdaq composite climbed 12.77 points, or 0.4 percent, to 3,600.39.

One sector that struggled was homebuilders. Sales of previously occupied homes slipped in June to an annual rate of 5.08 million, the National Association of Realtors said Monday. 

As a result, Pulte Group fell 22 cents, or 1.1 percent, to $19.14. Lennar fell 73 cents, or 2.1 percent to $34.80.

The stock market has surged in July after Fed Chairman Ben Bernanke assured investors that the U.S. central bank would not pull back on its stimulus before the economy was strong enough. The Fed is buying $85 billion of bonds each month to keep long-term interest rates low and to encourage spending. 

The S&P 500 has gained 5.6 percent in July. That puts the index on track for it best month since October 2011.

Small company stocks have fared even better. The Russell 2000 closed above 1,000 for the first time on July 5 and is up 7.8 percent for the month. That signals that investors have become more comfortable buying riskier assets. 

In commodities trading, the price of oil fell 93 cents, or 0.9 percent, to $106.94 a barrel.

In government bond trading, the yield on the 10-year Treasury note was unchanged from Friday at 2.48 percent. As recently as July 5, the yield was as high as 2.74 percent.

As of Monday, 63 percent of the companies that have reported earnings have exceeded expectations. That's above the historical average.

S&P 500 companies are forecast to report earnings growth of 3.6 percent for the second quarter compared with a year earlier, according to data from S&P Capital IQ. 

Analysts expect earnings growth to climb to 5.63 percent in the third quarter and 11.12 percent in the fourth quarter.

Those forecasts may prove optimistic if economic growth doesn't accelerate in the second half of the year, said Michael Sheldon, chief market strategist at RDM Financial. 

"I'm a little suspect that we're going to see double digit (earnings) growth," said Sheldon. "We're more likely in a period of moderate to sluggish growth."

Among other stocks making big moves.

”” Hasbro Inc.'s stock rose $1.49, or 3.3 percent, to $46.87. The nation's second biggest toy maker said Monday that it is expanding a merchandising deal with The Walt Disney Co. for properties including Marvel and Star Wars.

”” Yahoo fell $1.25, or 4.3 percent, to $27.86. The company said Monday that activist investor Dan Loeb and two other directors nominated by his hedge fund, Third Point LLC, are leaving Yahoo's board after big gains in the company's stock price the past year.

”” Kimberly-Clark, which makes Kleenex tissue and Huggies diapers, fell $1.81, or 1.8 percent, to $97.68. The company on Monday reported revenue that fell short of financial analyst's expectations.


----------



## bigdog

Source: http://finance.yahoo.com 

Uneven corporate earnings news left the stock market mixed on Tuesday.

Most major indexes closed slightly lower, except for the Dow Jones industrial average. Yet even there the gain was due to the increase in one stock, United Technologies.

Better earnings from big banks, health insurers and other companies have helped drive the stock market higher this month. On Tuesday, however, the encouraging and the discouraging seemed evenly matched. Wendy's and United Technologies surged after posting stronger results than financial analysts expected. Netflix and the Altria Group, maker of Marlboro cigarettes, sank after their results fell short.

"In the absence of major economic news, the focus is on earnings this week," said David Joy, chief market strategist at Ameriprise Financial. "And there's nothing today to drive the market dramatically one way or another."

The Dow rose 22.19 points, or 0.1 percent, to 15,567.74. If not for a 3 percent gain in United Technologies, the Dow would have closed down a point.

United Technologies rose $3.01 to $105.12 after the conglomerate said strong orders for commercial airline parts and elevators helped lift its profit.

The Standard & Poor's 500 index fell 3.14 points, or 0.2 percent, to 1,692.39. The Nasdaq composite fell 21.11 points, or 0.6 percent, to 3,579.27.

It was a busy day for earnings as 35 companies in the S&P 500 were scheduled to turn in results. The second-quarter scorecard looks good so far. More than six out of every 10 companies have posted earnings that surpassed Wall Street's expectations, according to S&P Capital IQ.

Analysts forecast that second-quarter earnings for companies in the S&P 500 increased 3.8 percent over the same period last year. 								

 *The NYSE DOW closed  	HIGHER ▲	22.19	points or ▲	0.14%	on	Tuesday, 23 July 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15567.74	▲	22.19	▲	0.0014		
	Nasdaq___	3579.27	▼	-21.11	▼	-0.0059		
	S&P_500__	1692.39	▼	-3.14	▼	-0.0019		
	30_Yr_Bond	3.59	▲	0.04	▲	0.0104		

NYSE Volume	 3,399,430,750 	 	 	 	 	  		 
Nasdaq Volume	 1,591,901,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6597.44	▼	-25.73	▼	-0.0039		
	DAX_____	8314.23	▼	-16.83	▼	-0.002		
	CAC_40__	3923.09	▼	-16.83	▼	-0.0043		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5004.6	▲	15.7	▲	0.0031		
	Shanghai_Comp	2043.88	▲	39.11	▲	0.0195		
	Taiwan_Weight	8214.65	▲	109.2	▲	0.0135		
	Nikkei_225____	14778.51	▲	120.47	▲	0.0082		
	Hang_Seng____	21915.42	▲	498.92	▲	0.0233		
	Strait_Times___	3253.76	▲	19.41	▲	0.006		
	NZX_50_Index__	4580.59	▲	26.55	▲	0.0058		

http://finance.yahoo.com/news/stock-market-ends-mixed-uneven-210726501.html

*Stock market ends mixed after uneven earnings news

Stocks end mixed after uneven news on US corporate earnings; United Technologies lifts Dow*

Uneven corporate earnings news left the stock market mixed on Tuesday.

Most major indexes closed slightly lower, except for the Dow Jones industrial average. Yet even there the gain was due to the increase in one stock, United Technologies.

Better earnings from big banks, health insurers and other companies have helped drive the stock market higher this month. On Tuesday, however, the encouraging and the discouraging seemed evenly matched. Wendy's and United Technologies surged after posting stronger results than financial analysts expected. Netflix and the Altria Group, maker of Marlboro cigarettes, sank after their results fell short.

"In the absence of major economic news, the focus is on earnings this week," said David Joy, chief market strategist at Ameriprise Financial. "And there's nothing today to drive the market dramatically one way or another."

The Dow rose 22.19 points, or 0.1 percent, to 15,567.74. If not for a 3 percent gain in United Technologies, the Dow would have closed down a point.

United Technologies rose $3.01 to $105.12 after the conglomerate said strong orders for commercial airline parts and elevators helped lift its profit.

The Standard & Poor's 500 index fell 3.14 points, or 0.2 percent, to 1,692.39. The Nasdaq composite fell 21.11 points, or 0.6 percent, to 3,579.27.

It was a busy day for earnings as 35 companies in the S&P 500 were scheduled to turn in results. The second-quarter scorecard looks good so far. More than six out of every 10 companies have posted earnings that surpassed Wall Street's expectations, according to S&P Capital IQ.

Analysts forecast that second-quarter earnings for companies in the S&P 500 increased 3.8 percent over the same period last year.

"The bar has been set pretty low," said Joel Huffman, senior portfolio manager at U.S. Bank Wealth Management. So, it's hardly a surprise that many companies are able to jump over it, he said.

Sales are another story. Analysts expect revenue to shrink 0.7 percent in the second quarter. Huffman said he's encouraged that many banks and makers of consumer-discretionary goods have reported stronger U.S. sales. "It's an indication of the underlying growth in the U.S. economy versus other parts of the world," he said.

Apple rose $21, or 5 percent, to $439.99 in after-hours trading, when the company reported earnings and revenue that beat Wall Street's forecasts.

Among other stocks making big moves:

”” Wendy's jumped 55 cents, or 8.2 percent, to $7.23. The fast-food company's net income came in above Wall Street's expectations. Wendy's also announced plans to sell 425 restaurants as franchises and raised its quarterly dividend by a penny to 5 cents.

”” Marlboro maker Altria Group said its quarterly results fell short of analysts' expectations. Altria's stock sank 89 cents, or 2.4 percent, to $35.99.

”” Netflix dropped $11.70, or 4.5 percent, to $250.26. The company said late Monday that it signed up fewer subscribers than financial analysts had projected. Big expectations have propelled Netflix's stock up 170 percent since the start of the year, adding more pressure on the company to deliver amazing numbers.

In the market for U.S. government bonds, the yield on the 10-year Treasury note rose to 2.50 percent from 2.48 percent late Monday. Long-term interest rates have swung in a wide range since May, a result of traders speculating over when the Federal Reserve will begin pulling back on its bond-buying program.

The rate on the 10-year note, a benchmark for most loans, was trading at 1.61 percent on May 1. It rose as high as 2.75 percent by the second week of July. 
By Matthew Craft, AP Business Writer


----------



## bigdog

Source: http://finance.yahoo.com 

A gloomy outlook from Caterpillar, the world's largest construction equipment company, tugged the stock market lower Wednesday.

The meager drop gave the stock market two consecutive days of losses, the first time that's happened in an otherwise strong month.

Caterpillar's earnings fell 43 percent in the second quarter as China's economy slowed and commodity prices sank. The company also warned of slowing revenue and profit, and its stock dropped $2.08, or 2 percent, to $83.44.

Slight losses spread across a wide variety of companies, with nine of 10 industry groups in the Standard & Poor's 500 index ending lower.

The holdouts were technology companies, which got a lift from Apple's surging stock. Despite reporting lower quarterly earnings Tuesday, the maker of tablets, smartphones and computers still managed to beat analysts' estimates, thanks to rising shipments of iPhones. Apple jumped $21.52, or 5 percent, to $440.51.

The Dow Jones industrial average fell 25.50 points, or 0.2 percent, at 15,542.24.

The Standard & Poor's 500 index fell 6.45 points, or 0.4 percent, to 1,685.94. The technology-heavy Nasdaq composite index edged up 0.33 of a point, or less than 0.1 percent, to 3,579.60.

Although far from a blockbuster earnings season, the larger trend for corporate profits looks good. Analysts forecast that second-quarter earnings for companies in the S&P 500 increased 4.2 percent over the same period last year, according to S&P Capital IQ. At the start of the month, they were looking for earnings to rise 2.8 percent. More than six out of every 10 companies have surpassed Wall Street's profit targets. 

The S&P 500 has gained 4.9 percent in July following a rough June. Speculation over when the Federal Reserve will begin pulling back on its bond-buying program rattled financial markets last month. 								

 *The NYSE DOW closed  	LOWER ▼	-25.5	points or ▼	-0.16%	on	Wednesday, 24 July 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15542.24	▼	-25.5	▼	-0.0016		
	Nasdaq___	3579.6	▲	0.33	▲	0.0001		
	S&P_500__	1685.94	▼	-6.45	▼	-0.0038		
	30_Yr_Bond	3.65	▲	0.06	▲	0.017		

NYSE Volume	 3,660,284,250 	 	 	 	 	  		 
Nasdaq Volume	 1,804,119,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6620.43	▲	22.99	▲	0.0035		
	DAX_____	8379.11	▲	64.88	▲	0.0078		
	CAC_40__	3962.75	▲	39.66	▲	0.0101		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5021.8	▲	17.2	▲	0.0034		
	Shanghai_Comp	2033.33	▼	-10.55	▼	-0.0052		
	Taiwan_Weight	8196.19	▼	-18.46	▼	-0.0022		
	Nikkei_225____	14731.28	▼	-47.23	▼	-0.0032		
	Hang_Seng____	21968.93	▲	53.51	▲	0.0024		
	Strait_Times___	3274.76	▲	21	▲	0.0065		
	NZX_50_Index__	4599.2	▲	18.61	▲	0.0041		

http://finance.yahoo.com/news/grim-caterpillar-outlook-tugs-stocks-201107175.html

*Grim Caterpillar outlook tugs stocks mostly lower

A bleak forecast from heavy equipment maker Caterpillar sours the mood on Wall Street*

By Matthew Craft, AP Business Writer

A gloomy outlook from Caterpillar, the world's largest construction equipment company, tugged the stock market lower Wednesday.

The meager drop gave the stock market two consecutive days of losses, the first time that's happened in an otherwise strong month.

Caterpillar's earnings fell 43 percent in the second quarter as China's economy slowed and commodity prices sank. The company also warned of slowing revenue and profit, and its stock dropped $2.08, or 2 percent, to $83.44.

Slight losses spread across a wide variety of companies, with nine of 10 industry groups in the Standard & Poor's 500 index ending lower.

The holdouts were technology companies, which got a lift from Apple's surging stock. Despite reporting lower quarterly earnings Tuesday, the maker of tablets, smartphones and computers still managed to beat analysts' estimates, thanks to rising shipments of iPhones. Apple jumped $21.52, or 5 percent, to $440.51.

The Dow Jones industrial average fell 25.50 points, or 0.2 percent, at 15,542.24.

The Standard & Poor's 500 index fell 6.45 points, or 0.4 percent, to 1,685.94. The technology-heavy Nasdaq composite index edged up 0.33 of a point, or less than 0.1 percent, to 3,579.60.

Although far from a blockbuster earnings season, the larger trend for corporate profits looks good. Analysts forecast that second-quarter earnings for companies in the S&P 500 increased 4.2 percent over the same period last year, according to S&P Capital IQ. At the start of the month, they were looking for earnings to rise 2.8 percent. More than six out of every 10 companies have surpassed Wall Street's profit targets.

"Yes, they're beating expectations, but expectations are so low," said Brad McMillan, chief investment officer at Commonwealth Financial. The overall number masks some worrisome trends, he said.

Financial firms, such as Goldman Sachs and Capital One, have posted the highest rate of earnings growth of any industry. Pull their results out of the total, however, and earnings are on track to slump 3.5 percent, according to FactSet.

"You can't call this a blowout quarter so far," McMillan said.

Another 25 big companies, including Visa and Qualcomm, released reports after the closing bell. Among them, Facebook surged 14 percent to $30.31 in after-hours trading after reporting income and revenue that easily beat estimates.

Surging demand for pickup trucks in the U.S. helped Ford Motor post higher quarterly profits. Sales in China also jumped 47 percent in the first six months of the year. The second-largest car company in the U.S. raised its profit forecast and its stock climbed 43 cents, or 3 percent, to $17.37.

AT&T dropped 41 cents, or 1 percent, to $35.40. Higher costs hit AT&T's profits in the latest quarter. The company's coffers were drained by smartphone sales, which it subsidizes in the hope of making money back over the life of two-year contracts.

In Europe, a broad gauge of economic activity reached the highest level since January 2012, sending stock markets in Germany and France higher. Financial information company Markit said Wednesday that its monthly purchasing managers' index for the countries that use the euro currency increased for the fourth month running.

France's CAC 40 rose 1 percent and Germany's DAX gained 0.8 percent.

The report out of Europe pushed prices for U.S. government bonds down and their yields up. The yield on the 10-year Treasury note rose to 2.58 percent from 2.51 percent late Tuesday.

Signs of economic strength usually lead traders to sell Treasurys, considered one of the safest places in the world to park cash.

The S&P 500 has gained 4.9 percent in July following a rough June. Speculation over when the Federal Reserve will begin pulling back on its bond-buying program rattled financial markets last month.


----------



## bigdog

Source: http://finance.yahoo.com 

Gains in energy and chemical companies helped nudge the stock market higher Thursday.

The modest move extends a pattern seen this week: Even with plenty of earnings news from big companies, the broader market has shuffled between minor gains and minor losses.

Cabot Oil & Gas and Range Resources reported revenue and earnings that trumped estimates, sending their stocks up 7 percent. Cabot climbed $4.85 to $76.56. Range Resources rose $5.34 to $81.39.

Facebook soared 30 percent after reporting earnings late Wednesday that easily beat analysts' forecasts thanks to higher revenue from ads on mobile devices. Facebook's stock gained $7.85 to $34.36.

Nearly halfway through the second-quarter earnings season, the overall trend looks good, but not great, said Tyler Vernon, chief investment officer of Biltmore Capital in Princeton, N.J. "There have been some big disappointments, like Caterpillar yesterday, but we're seeing better and better numbers coming out."

The Standard & Poor's 500 index gained 4.31 points, or 0.3 percent, to close at 1,690.25.

The Dow Jones industrial average rose 13.37 points, or 0.1 percent, to 15,555.61. The Dow was held back by Home Depot and Caterpillar, which warned Wednesday that its sales could sag.

The Nasdaq composite index gained 25.59 points, or 0.7 percent, to 3,605.19.

Analysts forecast that companies in the S&P 500 index will report earnings growth of 4.3 percent over the same period last year, according to S&P Capital IQ. At the start of July, the forecast was for growth of 2.8 percent. More than six out of every 10 companies have cleared analysts' earnings targets so far.

Improving profits should help push the S&P 500 index above 1,700 in the coming weeks, Vernon said. 								

 *The NYSE DOW closed  	HIGHER ▲	13.37	points or ▲	0.09%	on	Thursday, 25 July 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15555.61	▲	13.37	▲	0.0009		
	Nasdaq___	3605.19	▲	25.59	▲	0.0071		
	S&P_500__	1690.25	▲	4.31	▲	0.0026		
	30_Yr_Bond	3.67	▲	0.01	▲	0.0033		

NYSE Volume	 3,617,451,250 	 	 	 	 	  		 
Nasdaq Volume	 2,178,321,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6587.95	▼	-32.48	▼	-0.0049		
	DAX_____	8298.98	▼	-80.13	▼	-0.0096		
	CAC_40__	3956.02	▼	-6.73	▼	-0.0017		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5018.3	▼	-3.5	▼	-0.0007		
	Shanghai_Comp	2021.17	▼	-12.16	▼	-0.006		
	Taiwan_Weight	8163.58	▼	-32.61	▼	-0.004		
	Nikkei_225____	14562.93	▼	-168.35	▼	-0.0114		
	Hang_Seng____	21900.96	▼	-67.97	▼	-0.0031		
	Strait_Times___	3235.68	▼	-39.08	▼	-0.0119		
	NZX_50_Index__	4576.8	▼	-22.41	▼	-0.0049		

http://finance.yahoo.com/news/mater...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Materials companies help stocks to a slight gain**

Dow, S&P 500 inch higher, helped by materials stocks; Facebook soars as mobile ads increase*

By Matthew Craft, AP Business Writer

Gains in energy and chemical companies helped nudge the stock market higher Thursday.

The modest move extends a pattern seen this week: Even with plenty of earnings news from big companies, the broader market has shuffled between minor gains and minor losses.

Cabot Oil & Gas and Range Resources reported revenue and earnings that trumped estimates, sending their stocks up 7 percent. Cabot climbed $4.85 to $76.56. Range Resources rose $5.34 to $81.39.

Facebook soared 30 percent after reporting earnings late Wednesday that easily beat analysts' forecasts thanks to higher revenue from ads on mobile devices. Facebook's stock gained $7.85 to $34.36.

Nearly halfway through the second-quarter earnings season, the overall trend looks good, but not great, said Tyler Vernon, chief investment officer of Biltmore Capital in Princeton, N.J. "There have been some big disappointments, like Caterpillar yesterday, but we're seeing better and better numbers coming out."

The Standard & Poor's 500 index gained 4.31 points, or 0.3 percent, to close at 1,690.25.

The Dow Jones industrial average rose 13.37 points, or 0.1 percent, to 15,555.61. The Dow was held back by Home Depot and Caterpillar, which warned Wednesday that its sales could sag.

The Nasdaq composite index gained 25.59 points, or 0.7 percent, to 3,605.19.

Analysts forecast that companies in the S&P 500 index will report earnings growth of 4.3 percent over the same period last year, according to S&P Capital IQ. At the start of July, the forecast was for growth of 2.8 percent. More than six out of every 10 companies have cleared analysts' earnings targets so far.

Improving profits should help push the S&P 500 index above 1,700 in the coming weeks, Vernon said.

D.R. Horton, the country's largest builder, and PulteGroup said orders for new houses jumped in the second quarter, but their results still fell short of what analysts had expected. PulteGroup also posted a 14 percent decline in profits

D.R. Horton dropped $1.82, or 9 percent, to $19.38. PulteGroup lost $1.90, or 10 percent, to $16.55, the biggest drop of any stock in the S&P 500.

"I think what you're seeing a bit of today is people questioning what higher mortgage rates mean for housing," said JJ Kinahan, chief strategist at TD Ameritrade in Chicago.

In the market for U.S. government bonds, the yield on the 10-year Treasury note was unchanged from late Wednesday at 2.59 percent. Late last week, it was trading at 2.48 percent.

The 10-year yield acts as a benchmark rate for most mortgage loans. A sharp increase in the rate drives up mortgage costs and could slow down sales in the housing market.

It's still very low by historical standards, thanks in large part to the Federal Reserve's massive bond-buying program. The 10-year Treasury yield hit a recent low of 1.63 percent on May 3. By contrast, it was trading around 4 percent in the summer of 2008, shortly before the worst days of the financial crisis.

The Russell 2000 index of small-company stocks set another record high, gaining 10.35 points, or 1 percent, to 1,054.18. The Russell has trounced other indexes this year, gaining 24 percent versus 19 percent for the S&P 500 and the Dow.

Among other stocks making big moves:

”” Las Vegas Sands, a major casino operator, fell 55 cents, or 1 percent, to $54.40 after it posted lower revenue and income than financial analysts had expected.

”” Visa rose $7.86, or 4 percent, to $194.61. Visa returned to profitability in its third fiscal quarter and reported strong revenue growth as the company processed more transactions worldwide.


----------



## bigdog

Source: http://finance.yahoo.com 

A mixed batch of earnings results gave investors little direction on Friday as traders began looking ahead to a packed schedule next week.

The stock market slumped in early trading, climbed steadily the rest of the day, then ended little changed.

Volume was thin as traders prepared for a deluge of potentially market-moving events next week: a Federal Reserve meeting, the government's monthly employment report and much more.

"Traders seem to be erring on the side of caution today," said Jeffrey Kleintop, the chief market strategist for LPL Financial.

Expedia plunged 27 percent, the worst fall in the Standard & Poor's 500 index. The online travel agency reported earnings late Thursday that badly missed analysts' expectations. Higher costs were the main culprit. Expedia lost $17.80 to $47.20.

The Standard & Poor's 500 index inched up 1.40 points, or 0.08 percent, to 1,691.65. The index ended the week with a tiny loss, the first this month.

The Dow Jones industrial average rose 3.22 points, less than 0.1 percent, to 15,558.83. The Nasdaq composite index edged up 7.98 points, or 0.2 percent, to 3,613.16.

It's halftime in the second-quarter earnings season, and corporate profits are shaping up better than some had feared.

Analysts forecast that earnings for companies in the S&P 500 increased 4.5 percent over the same period in 2012, according to S&P Capital IQ. At the start of July, they predicted earnings would rise 2.8 percent. Nearly seven out of every 10 companies have surpassed Wall Street's profit targets.

The results aren't exactly impressive, said Sam Stovall, the chief equity strategist at S&P Capital IQ. Investors often argue that analysts set the bar for earnings so low that most companies are bound to jump over it. On average, more than six of every 10 companies beat Wall Street's targets every quarter. 								

 *The NYSE DOW closed  	HIGHER ▲	3.22	points or ▲	0.02%	on	Friday, 26 July 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15558.83	▲	3.22	▲	0.0002		
	Nasdaq___	3613.16	▲	7.98	▲	0.0022		
	S&P_500__	1691.65	▲	1.4	▲	0.0008		
	30_Yr_Bond	3.62	▼	-0.05	▼	-0.0128		

NYSE Volume	 3,038,463,500 	 	 	 	 	  		 
Nasdaq Volume	 1,773,792,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6554.79	▼	-33.16	▼	-0.005		
	DAX_____	8244.91	▼	-54.07	▼	-0.0065		
	CAC_40__	3968.84	▲	12.82	▲	0.0032		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5023.8	▲	5.5	▲	0.0011		
	Shanghai_Comp	2010.85	▼	-10.32	▼	-0.0051		
	Taiwan_Weight	8149.4	▼	-14.18	▼	-0.0017		
	Nikkei_225____	14129.98	▼	-432.95	▼	-0.0297		
	Hang_Seng____	21968.95	▲	67.99	▲	0.0031		
	Strait_Times___	3236.1	▲	0.42	▲	0.0001		
	NZX_50_Index__	4581.99	▲	5.19	▲	0.0011		

http://finance.yahoo.com/news/stocks-eke-tiny-gains-wall-204951114.html

*Stocks eke out tiny gains on Wall Street

Mixed corporate results leave market indexes flat; Expedia plunges after missing estimates*

By Matthew Craft, AP Business Writer

A mixed batch of earnings results gave investors little direction on Friday as traders began looking ahead to a packed schedule next week.

The stock market slumped in early trading, climbed steadily the rest of the day, then ended little changed.

Volume was thin as traders prepared for a deluge of potentially market-moving events next week: a Federal Reserve meeting, the government's monthly employment report and much more.

"Traders seem to be erring on the side of caution today," said Jeffrey Kleintop, the chief market strategist for LPL Financial.

Expedia plunged 27 percent, the worst fall in the Standard & Poor's 500 index. The online travel agency reported earnings late Thursday that badly missed analysts' expectations. Higher costs were the main culprit. Expedia lost $17.80 to $47.20.

The Standard & Poor's 500 index inched up 1.40 points, or 0.08 percent, to 1,691.65. The index ended the week with a tiny loss, the first this month.

The Dow Jones industrial average rose 3.22 points, less than 0.1 percent, to 15,558.83. The Nasdaq composite index edged up 7.98 points, or 0.2 percent, to 3,613.16.

It's halftime in the second-quarter earnings season, and corporate profits are shaping up better than some had feared.

Analysts forecast that earnings for companies in the S&P 500 increased 4.5 percent over the same period in 2012, according to S&P Capital IQ. At the start of July, they predicted earnings would rise 2.8 percent. Nearly seven out of every 10 companies have surpassed Wall Street's profit targets.

The results aren't exactly impressive, said Sam Stovall, the chief equity strategist at S&P Capital IQ. Investors often argue that analysts set the bar for earnings so low that most companies are bound to jump over it. On average, more than six of every 10 companies beat Wall Street's targets every quarter.

Starbucks posted results late Thursday that beat analysts' estimates. Lower costs for coffee beans and better sales of salads and sandwiches helped. Starbucks jumped $5.19, or 8 percent, to $73.36.

The stock market hasn't ended the week with a loss since June 21, when speculation that the Federal Reserve would start easing off its support for the economy rattled financial markets.

Kleintop cautioned against reading too much into the market's moves on Friday or the weekly loss. The S&P 500 is still up 5.3 percent for the month and 18.6 percent for the year.

"It's just one week down after four up," he said. "If the market just goes higher and higher week after week, you would see a major swoon when it runs into some disappointing news."

In the market for U.S. government bonds, the yield on the benchmark 10-year Treasury note slipped to 2.56 percent from 2.57 percent late Thursday.

Long-term interest rates have swung in a wide range since early May as traders attempt to anticipate the Fed's next move. The yield on the 10-year note went as low as 1.63 percent on May 1 and as high as 2.74 percent on July 5.

7287


----------



## bigdog

Source: http://finance.yahoo.com 

A blistering July rally on the stock market appears to be fading.

Stocks edged lower Monday as investors waited for a series of major economic reports due out this week. A string of big-name merger deals wasn't enough to push indexes higher.

On Wednesday the government will report its first estimate of U.S. economic growth for the second quarter, and on Friday it will publish its monthly jobs survey.

Both reports will give investors a better idea about the strength of the economy and what's next for the Federal Reserve's stimulus program. Investors will hear from the Fed on Wednesday after the central bank winds up a two-day policy meeting. The Fed's stimulus has been a major factor supporting a four-year rally in stocks.

The Standard & Poor's 500 index dropped 6.32 points, or 0.4 percent, to 1,685.33.

Seven of the 10 sectors in the index fell. The declines were led by energy companies and banks.

The benchmark index is still up 4.9 percent in July, and the S&P 500 is on track to have its best month since January. The index jumped this month, climbing to an all-time high July 22, after Fed Chairman Ben Bernanke assured investors that the Fed wouldn't cut its stimulus before the economy was ready. The central bank is buying $85 billion a month to help keep interest rates low and encourage borrowing and hiring.

Stocks may struggle to add to their gains, given that expectations for the economy remain modest, said Scott Wren, a senior equity strategist at Wells Fargo Advisors.

The U.S. economy is forecast to have grown just 0.5 percent in the second quarter, according to data provider FactSet. That would be slower than the 1.8 percent annual rate the economy expanded at in the first three months of the year.

"I don't think you're going to see the market sustain much higher levels than this," said Wren. "All this data is going to show that we are slowly improving, but it's a slow process and there's not much to get excited about." 

The Dow Jones industrial average fell 36.86 points, or 0.2 percent, to 15,521.97. The Nasdaq composite dropped 14.02 points, or 0.4 percent, to 3,599.14.

Investors will also be focusing on corporate earnings this week.

Just over half of the companies in the S&P 500 index have reported earnings for the second quarter. Analysts are currently forecasting earnings growth of 4 percent for the April-through-June period, according to S&P Capital IQ. That's the slowest rate of growth in three quarters. 								

 *The NYSE DOW closed  	LOWER ▼	-36.86	points or ▼	-0.24%	on	Monday, 29 July 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15521.97	▼	-36.86	▼	-0.0024		
	Nasdaq___	3599.14	▼	-14.02	▼	-0.0039		
	S&P_500__	1685.33	▼	-6.32	▼	-0.0037		
	30_Yr_Bond	3.66	▲	0.04	▲	0.0105		

NYSE Volume	 3,073,014,250 	 	 	 	 	  		 
Nasdaq Volume	 1,523,380,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6560.25	▼	-27.7	▼	-0.0042		
	DAX_____	8259.03	▲	14.12	▲	0.0017		
	CAC_40__	3968.91	▲	0.07	▲	0		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5027.9	▲	4.1	▲	0.0008		
	Shanghai_Comp	1976.31	▼	-34.54	▼	-0.0172		
	Taiwan_Weight	8084.5	▼	-64.9	▼	-0.008		
	Nikkei_225____	13661.13	▼	-468.85	▼	-0.0332		
	Hang_Seng____	21850.15	▼	-118.8	▼	-0.0054		
	Strait_Times___	3236.97	▲	0.87	▲	0.0003		
	NZX_50_Index__	4578.48	▼	-3.52	▼	-0.0008		

http://finance.yahoo.com/news/stocks-decline-busy-week-markets-165401908.html

*Stocks decline as a busy week for markets begins**

Stocks decline on Wall Street ahead of a big week for economic reports*

By Steve Rothwell, AP Markets Writer

A blistering July rally on the stock market appears to be fading.

Stocks edged lower Monday as investors waited for a series of major economic reports due out this week. A string of big-name merger deals wasn't enough to push indexes higher.

On Wednesday the government will report its first estimate of U.S. economic growth for the second quarter, and on Friday it will publish its monthly jobs survey.

Both reports will give investors a better idea about the strength of the economy and what's next for the Federal Reserve's stimulus program. Investors will hear from the Fed on Wednesday after the central bank winds up a two-day policy meeting. The Fed's stimulus has been a major factor supporting a four-year rally in stocks.

The Standard & Poor's 500 index dropped 6.32 points, or 0.4 percent, to 1,685.33.

Seven of the 10 sectors in the index fell. The declines were led by energy companies and banks.

The benchmark index is still up 4.9 percent in July, and the S&P 500 is on track to have its best month since January. The index jumped this month, climbing to an all-time high July 22, after Fed Chairman Ben Bernanke assured investors that the Fed wouldn't cut its stimulus before the economy was ready. The central bank is buying $85 billion a month to help keep interest rates low and encourage borrowing and hiring.

Stocks may struggle to add to their gains, given that expectations for the economy remain modest, said Scott Wren, a senior equity strategist at Wells Fargo Advisors.

The U.S. economy is forecast to have grown just 0.5 percent in the second quarter, according to data provider FactSet. That would be slower than the 1.8 percent annual rate the economy expanded at in the first three months of the year.

"I don't think you're going to see the market sustain much higher levels than this," said Wren. "All this data is going to show that we are slowly improving, but it's a slow process and there's not much to get excited about."

A trio of corporate deals caught investors' attention Monday but failed to ignite the broader market.

Saks jumped after Canadian retailer Hudson's Bay, the parent company of Lord & Taylor, agreed to buy the luxury store operator for $2.4 billion, or $16 a share. Saks rose 64 cents, or 4.2 percent, to $15.95.

Interpublic Group, a big advertising company, gained after Omnicom Group, another big advertiser, agreed to combine with France's Publicis Groupe to create the world's largest advertising company. Interpublic rose 74 cents, or 4.7 percent, to $16.61.

The stock closed higher even after Interpublic CEO Michael Roth said that he saw no need for a major merger to keep the company moving forward.

Omnicom jumped in early trading, climbing as high as $70.50, but ended the day down 45 cents, or 0.6 percent, at $64.75.

Perrigo also featured in the mergers and acquisitions news. The drugmaker agreed to buy Ireland's Elan for $8.6 billion. Perrigo fell $9.06, or 6.7 percent, to $125.17.

The deals should be positive for the stock market in the long run, and should be followed by more merger activity, said Dan Veru, chief investment officer at Palisade Capital Management. Companies are sitting on record cash balances and borrowing costs, though rising, are still close to record lows.

"Companies are struggling to grow organically," said Veru. "So, how do they grow? They grow by buying other businesses."

The Dow Jones industrial average fell 36.86 points, or 0.2 percent, to 15,521.97. The Nasdaq composite dropped 14.02 points, or 0.4 percent, to 3,599.14.

Investors will also be focusing on corporate earnings this week.

Just over half of the companies in the S&P 500 index have reported earnings for the second quarter. Analysts are currently forecasting earnings growth of 4 percent for the April-through-June period, according to S&P Capital IQ. That's the slowest rate of growth in three quarters.

In government bond trading, the yield on the 10-year Treasury note rose to 2.59 percent from 2.56 percent Friday. The note's yield, which moves inversely to its price, has climbed almost 1 percentage point since the start of May, when it hit its low point of the year, 1.63 percent.

Higher government bond rates push up mortgage rates, which could threaten the housing recovery.

The number of Americans who signed contracts to buy homes dipped in June from a six-year high in May, the National Association of Realtors said Monday. The slight decline suggests higher mortgage rates may be starting to slow sales.

Should rates rise too quickly the Fed will likely keep up with its stimulus for longer, said Colleen Supran, a principle at Bingham, Osborn and Scarborough, a wealth management firm.

"We really need the housing market to stay on track to keep economic growth on track," said Supran.

In commodities trading, crude oil fell 15 cents, or 0.1 percent, to $104.55 a barrel. Gold climbed $6.90, or 0.5 percent, to $1,328.70 an ounce.

The dollar gained against the euro, but fell against the Japanese yen.

Among other stocks making big moves:

”” CF Industries rose $21.30, or 12 percent, to $202.30 after reports that Third Point, the hedge fund of the activist investor Daniel Loeb, had bought a stake in the company. Loeb disclosed the purchase in a quarterly letter to investors.


----------



## bigdog

Source: http://finance.yahoo.com 

On the stock market Tuesday, it felt like late-summer inertia had already set in.

U.S. stocks wandered between the tiniest of gains and losses before closing mixed. Traders were indecisive as companies reported disparate earnings news, and many were disinclined to make any big moves before getting direction from the Federal Reserve, which is scheduled to release an updated policy statement Wednesday.

The calendar said late July, but on the stock exchange it seemed more like August, when many traders take off for vacation and fewer stocks trade hands. The Dow Jones industrial average rose as much as 72 points in early trading ”” less than 0.5 percent ”” before flickering lower. It dipped into the red for most of the afternoon and closed down 1.38 points, or 0.01 percent, at 15,520.59.

"It seems like the doldrums of summer have set in," said Dave Abate, senior wealth adviser at Strategic Wealth Partners in Seven Hills, Ohio.

The Nasdaq composite rose 17.33 points, or 0.5 percent, to 3,616.47, though even that gain was largely because Apple, its biggest component, was up more than 1 percent.

The Standard & Poor's 500 index plodded just a fraction higher, up 0.63 point, or 0.04 percent, to 1,685.96. Three of its industry sectors rose, led by technology stocks. Seven fell, dragged down by telecommunications companies.

Company earnings were equally inconclusive. Coach, the maker of upscale handbags, slumped 8 percent after reporting lower quarterly profit. But Goodyear Tire & Rubber jumped 9 percent after announcing that its quarterly earnings had doubled.

This earnings season has presented a picture encouraging on some fronts and troubling on others. Many companies, including big names like Apple and Visa, have posted better-than-expected results, and analysts predict that second-quarter earnings are up 4.7 percent for companies in the S&P 500, according to S&P Capital IQ. But the picture has its blemishes, including the fact that many of the gains are based not on business growth but on cost-cutting: Revenue is down about 0.5 percent.

"There's a little bit of swapping chairs on the deck," Abate said.

Outside of earnings reports, traders were keeping a close eye on the Federal Reserve, which began a two-day meeting Tuesday and will release an updated policy statement Wednesday.

Conjectures about the central bank have had a powerful influence on the stock market in recent months. Traders have bought and sold stocks while hanging on to every word of Federal Reserve Chairman Ben Bernanke, looking for clues about when the Fed might pull back on its bond-buying program or start raising interest rates. The central bank has been buying bonds to try to prop up stocks and encourage borrowing. It has also been keeping interest rates low, all in an attempt to pump life into a lagging economy.

"This week it's all about Bernanke and the Fed statement," said Bill Strazzullo, chief strategist of Bell Curve Trading. "Stocks need a supportive statement ... to go higher. That is the key driver."

The Fed has said it might start to pull back on its bond purchases later this year if the economy continues to improve, but the timing remains uncertain. The Fed has also said it won't raise its benchmark short-term interest rate until the unemployment rate, which currently stands at 7.6 percent, dips below 6.5 percent. 								

 *The NYSE DOW closed  	LOWER ▼	-1.38	points or ▼	-0.01%	on	Tuesday, 30 July 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15520.59	▼	-1.38	▼	-0.0001		
	Nasdaq___	3616.47	▲	17.33	▲	0.0048		
	S&P_500__	1685.96	▲	0.63	▲	0.0004		
	30_Yr_Bond	3.67	▲	0.02	▲	0.0044		

NYSE Volume	 3,552,778,500 	 	 	 	 	  		 
Nasdaq Volume	 1,736,666,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6570.95	▲	10.7	▲	0.0016		
	DAX_____	8271.02	▲	11.99	▲	0.0015		
	CAC_40__	3986.61	▲	17.7	▲	0.0045		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5026.3	▼	-1.6	▼	-0.0003		
	Shanghai_Comp	1990.06	▲	13.76	▲	0.007		
	Taiwan_Weight	8163.55	▲	79.05	▲	0.0098		
	Nikkei_225____	13869.82	▲	208.69	▲	0.0153		
	Hang_Seng____	21953.96	▲	103.81	▲	0.0048		
	Strait_Times___	3245.45	▲	8.48	▲	0.0026		
	NZX_50_Index__	4550.58	▼	-27.89	▼	-0.0061		

http://finance.yahoo.com/news/waiting-bernanke-stocks-plod-indecisively-203148437.html

*Waiting for Bernanke, stocks plod indecisively

Stocks zigzag between small gains and losses as Fed begins policy meeting; Mosaic plunges*

By Christina Rexrode, AP Business Writer

On the stock market Tuesday, it felt like late-summer inertia had already set in.

U.S. stocks wandered between the tiniest of gains and losses before closing mixed. Traders were indecisive as companies reported disparate earnings news, and many were disinclined to make any big moves before getting direction from the Federal Reserve, which is scheduled to release an updated policy statement Wednesday.

The calendar said late July, but on the stock exchange it seemed more like August, when many traders take off for vacation and fewer stocks trade hands. The Dow Jones industrial average rose as much as 72 points in early trading ”” less than 0.5 percent ”” before flickering lower. It dipped into the red for most of the afternoon and closed down 1.38 points, or 0.01 percent, at 15,520.59.

"It seems like the doldrums of summer have set in," said Dave Abate, senior wealth adviser at Strategic Wealth Partners in Seven Hills, Ohio.

The Nasdaq composite rose 17.33 points, or 0.5 percent, to 3,616.47, though even that gain was largely because Apple, its biggest component, was up more than 1 percent.

The Standard & Poor's 500 index plodded just a fraction higher, up 0.63 point, or 0.04 percent, to 1,685.96. Three of its industry sectors rose, led by technology stocks. Seven fell, dragged down by telecommunications companies.

Company earnings were equally inconclusive. Coach, the maker of upscale handbags, slumped 8 percent after reporting lower quarterly profit. But Goodyear Tire & Rubber jumped 9 percent after announcing that its quarterly earnings had doubled.

This earnings season has presented a picture encouraging on some fronts and troubling on others. Many companies, including big names like Apple and Visa, have posted better-than-expected results, and analysts predict that second-quarter earnings are up 4.7 percent for companies in the S&P 500, according to S&P Capital IQ. But the picture has its blemishes, including the fact that many of the gains are based not on business growth but on cost-cutting: Revenue is down about 0.5 percent.

"There's a little bit of swapping chairs on the deck," Abate said.

Outside of earnings reports, traders were keeping a close eye on the Federal Reserve, which began a two-day meeting Tuesday and will release an updated policy statement Wednesday.

Conjectures about the central bank have had a powerful influence on the stock market in recent months. Traders have bought and sold stocks while hanging on to every word of Federal Reserve Chairman Ben Bernanke, looking for clues about when the Fed might pull back on its bond-buying program or start raising interest rates. The central bank has been buying bonds to try to prop up stocks and encourage borrowing. It has also been keeping interest rates low, all in an attempt to pump life into a lagging economy.

"This week it's all about Bernanke and the Fed statement," said Bill Strazzullo, chief strategist of Bell Curve Trading. "Stocks need a supportive statement ... to go higher. That is the key driver."

The Fed has said it might start to pull back on its bond purchases later this year if the economy continues to improve, but the timing remains uncertain. The Fed has also said it won't raise its benchmark short-term interest rate until the unemployment rate, which currently stands at 7.6 percent, dips below 6.5 percent.

Crude oil fell $1.47 to $103.08 a barrel in New York. The price of gold inched down $4.80 to $1,324.80 an ounce. The dollar rose against the Japanese yen and fell against the euro.

The yield on the 10-year Treasury note was unchanged from late Monday at 2.60 percent. The yield is a benchmark for many kinds of loans including home mortgages.

Among stocks making big moves:

””Coach dipped $4.55 to $53.30. Goodyear jumped $1.52 to $18.56.

””The Mosaic Co., maker of a key ingredient in crop fertilizers, was the worst performer on the S&P 500. It plunged after a Russian fertilizer company said it would drop out of a cartel that keeps prices high. Mosaic fell $9.15, or 17 percent, to $43.81.

”” Masco jumped $1.06, or 5 percent, to $20.80. The company, which makes cabinets, plumbing fixtures and other building products, posted better-than-expected earnings late Monday, boosted by a surge in home construction.


----------



## bigdog

Source: http://finance.yahoo.com 

After a day of stalled rallies, the stock market closed out July with its best monthly gain since January.

The Standard & Poor's 500 index ended the month 4.95 percent higher. That's the biggest increase since January, when it rose 5.04 percent. The Dow Jones industrial average also had its best month since January.

Markets surged in July after Fed Chairman Ben Bernanke assured investors that the central bank wouldn't pull back on its stimulus program until the economy was strong enough. The central bank is buying $85 billion of bonds a month to keep down interest rates to encourage borrowing and hiring.

On Wednesday, the Fed reaffirmed its commitment to support the economy in a statement released after the end of a two-day meeting. The central bank dropped hints that it might need to maintain its stimulus, and slightly downgraded its assessment of U.S. economic growth from "moderate" to "modest."

That initially gave stocks a boost, pushing the S&P 500 within two points of breaching the 1,700 level for the first time in afternoon trading. But the rally faded in the final hour, leaving the S&P flat at the end of the day.

Given the market's big gains in July, stocks may struggle to climb further in the coming months, said Phil Orlando, chief equity market strategist at Federated Investors.

"I would not be the least bit surprised to see some modest consolidation," said Orlando.

Stocks started higher Wednesday after the government said that the economy grew at a faster pace in the second quarter than economists had forecast.

The gain was mostly gone by the time the Fed statement came out at 2 p.m. Eastern Daylight Time. The market staged another rally for about an hour after the Fed's announcement, then ended little changed.

The U.S. grew at an annual rate of 1.7 percent from April through June as businesses spent more and the federal government cut less spending, the Commerce Department said Wednesday. Economists had expected growth of 1 percent, according to the data provider FactSet.

There was also an encouraging report on hiring ahead of the government's monthly jobs survey due out Friday.

U.S. businesses created a healthy 200,000 jobs this month, payroll company ADP said, as companies hired at the fastest pace since December. ADP also raised its estimate of the number of jobs the private sector created in June.

The Standard & Poor's 500 index ended little changed at 1,685.73. The Dow Jones industrial average ended the day 21 points lower, or 0.1 percent, at 15,499.54.

The Nasdaq composite gained 9.90 points, or 0.7 percent, to 3,626.37. The index fell just five times during the month and is at its highest level in more than a decade. 								

 *The NYSE DOW closed  	LOWER ▼	-21.05	points or ▼	-0.14%	on	Wednesday, 31 July 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15499.54	▼	-21.05	▼	-0.0014		
	Nasdaq___	3626.37	▲	9.9	▲	0.0027		
	S&P_500__	1685.73	▼	-0.23	▼	-0.0001		
	30_Yr_Bond	3.65	▼	-0.03	▼	-0.0071		

NYSE Volume	 4,211,139,500 	 	 	 	 	  		 
Nasdaq Volume	 1,915,579,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6621.06	▲	50.11	▲	0.0076		
	DAX_____	8275.97	▲	4.95	▲	0.0006		
	CAC_40__	3992.69	▲	6.08	▲	0.0015		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5035.7	▲	9.4	▲	0.0019		
	Shanghai_Comp	1993.8	▲	3.73	▲	0.0019		
	Taiwan_Weight	8107.94	▼	-55.61	▼	-0.0068		
	Nikkei_225____	13668.32	▼	-201.5	▼	-0.0145		
	Hang_Seng____	21883.66	▼	-70.3	▼	-0.0032		
	Strait_Times___	3221.93	▼	-23.52	▼	-0.0072		
	NZX_50_Index__	4537.98	▼	-12.6	▼	-0.0028		

http://finance.yahoo.com/news/stocks-log-best-month-since-210856317.html

*Stocks log best month since January on Fed pledge

Stocks end July with best gain since January, boosted by Fed pledge*

By Steve Rothwell, AP Markets Writer

After a day of stalled rallies, the stock market closed out July with its best monthly gain since January.

The Standard & Poor's 500 index ended the month 4.95 percent higher. That's the biggest increase since January, when it rose 5.04 percent. The Dow Jones industrial average also had its best month since January.

Markets surged in July after Fed Chairman Ben Bernanke assured investors that the central bank wouldn't pull back on its stimulus program until the economy was strong enough. The central bank is buying $85 billion of bonds a month to keep down interest rates to encourage borrowing and hiring.

On Wednesday, the Fed reaffirmed its commitment to support the economy in a statement released after the end of a two-day meeting. The central bank dropped hints that it might need to maintain its stimulus, and slightly downgraded its assessment of U.S. economic growth from "moderate" to "modest."

That initially gave stocks a boost, pushing the S&P 500 within two points of breaching the 1,700 level for the first time in afternoon trading. But the rally faded in the final hour, leaving the S&P flat at the end of the day.

Given the market's big gains in July, stocks may struggle to climb further in the coming months, said Phil Orlando, chief equity market strategist at Federated Investors.

"I would not be the least bit surprised to see some modest consolidation," said Orlando.

Stocks started higher Wednesday after the government said that the economy grew at a faster pace in the second quarter than economists had forecast.

The gain was mostly gone by the time the Fed statement came out at 2 p.m. Eastern Daylight Time. The market staged another rally for about an hour after the Fed's announcement, then ended little changed.

The U.S. grew at an annual rate of 1.7 percent from April through June as businesses spent more and the federal government cut less spending, the Commerce Department said Wednesday. Economists had expected growth of 1 percent, according to the data provider FactSet.

There was also an encouraging report on hiring ahead of the government's monthly jobs survey due out Friday.

U.S. businesses created a healthy 200,000 jobs this month, payroll company ADP said, as companies hired at the fastest pace since December. ADP also raised its estimate of the number of jobs the private sector created in June.

The Standard & Poor's 500 index ended little changed at 1,685.73. The Dow Jones industrial average ended the day 21 points lower, or 0.1 percent, at 15,499.54.

The Nasdaq composite gained 9.90 points, or 0.7 percent, to 3,626.37. The index fell just five times during the month and is at its highest level in more than a decade.

On the bond market, investors anticipated that the Fed's slightly weaker assessment of the economy would imply a longer period of bond purchases. Bond yields fell as demand increased for U.S. government debt. The yield on the 10-year Treasury note fell to 2.58 percent from 2.66 percent just before the announcement.

Investors were also tracking company earnings Wednesday.

Comcast rose $2.37, or 5.5 percent, to $45.08 after the parent company of the NBC network and Universal Studios reported earnings and revenue that exceed analysts' expectations in the second quarter.

Software company Symantec, which makes the Norton antivirus software, surged after the company reported earnings and revenue that beat analysts' forecasts. The stock rose $2.33, or 9.6 percent, to $26.68.

Analysts forecast that second-quarter earnings rose an average of 4.75 percent for S&P 500 companies, according to S&P Capital IQ. That would be the slowest rate of growth in three quarters.

In commodities trading, the price of oil rose $1.95, or 1.9 percent, to $105.03 a barrel. Gold dropped $11.80, or 1 percent, to $1,313 an ounce.

Among other stocks making big moves:

”” Air Products & Chemicals rose $3.03, or 2.9 percent, to $108.64 after the Wall Street journal reported that activist investor William Ackman had bought a 9.8 percent stake in the gas company.

”” Herbalife rose $5.46, or 9.1 percent, to $65.50 after CNBC reported that the veteran hedge fund investor George Soros had taken a stake in the company. Herbalife has been at the center of a battle between Ackman and rival investor Carl Ichan, who are taking opposing positions in the stock.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks roared back to record highs on Thursday, driven by good news on the economy.

The Standard & Poor's 500, the Dow Jones industrial average and the Russell 2000 index set all-time highs. The S&P broke through 1,700 points for the first time. The Nasdaq hit its highest level since September 2000.

The gains were driven by a steady flow of encouraging reports on the global economy.

Overnight, a positive read on China's manufacturing helped shore up Asian markets. An hour before U.S. trading started, the government reported that the number of people applying for unemployment benefits last week fell sharply. At mid-morning, a trade group said U.S. factories revved up production last month. And while corporate earnings news after the market closed Wednesday and throughout Thursday brought both winners and losers, investors were able to find enough reports that they liked, including those from CBS, MetLife and Yelp.

"It's just a lot of things adding up," said Russell Croft, portfolio manager of the Croft Value Fund in Baltimore. "It's hard to put your finger on why exactly, but basically it's a bunch of pretty good data points coming together to make a very good day."

Overall, analysts said, the news was good but not overwhelmingly so. Enough to suggest that the economy is improving, but not enough to prompt the Federal Reserve to withdraw its economic stimulus programs.

Earnings results covered a wide range. Boston Beer, which makes Samuel Adams, and home shopping network operator HSN rose after beating analysts' estimates for earnings and revenue. Kellogg, health insurer Cigna and cosmetics maker Avon were down after beating earnings predictions but missing on revenue.

It's becoming a familiar template this year. Stock indexes have been setting record highs since April even while the underlying economy is often described as improving, but hardly going gangbusters.

Economic indicators have been following a similar fashion. While layoffs are steadily declining, companies aren't hiring as quickly as they did before the financial crisis and Great Recession. The economy is growing, but not fast enough to drive significant job growth. The Commerce Department reported this week that gross domestic product, or GDP, the broadest measure of the economy, grew at a tepid annual rate of 1.7 percent in the second quarter.

"They're not great numbers, but they're positive and they're continuing to grow," said Tim Courtney, chief investment officer of Exencial Wealth Advisors in Oklahoma City. "That's about all the market needs to hear."

Because the stock market often looks ahead 6-9 months, it's not unusual for stock indexes to be ahead of economic indicators, when the economy is improving or worsening. Right now, stock investors may be anticipating a stronger economy and better earnings next year.

Among Thursday's stock index records: The S&P 500 index rose 21.14 points, or 1.3 percent, to 1,706.87. The Dow rose 128.48 points, or 0.8 percent, to 15,628.02. The Russell 2000 index of small-company stocks rose 14.62 points, or 1.4 percent, to 1,059.88.

The Nasdaq composite index rose 49.37 points, or 1.4 percent, to 3,675.74, in line with the daily gains of other indexes but still far short of its record. The Nasdaq, which is heavily weighted with technology stocks, briefly veered above 5,000 points in March 2000, just before the Internet bubble burst. 		

The S&P made the jump from 1,600 to 1,700 in less than three months. The index first traded above 1,600 on May 3. The first close above 1,500 was in March 2000.						

 *The NYSE DOW closed  	HIGHER ▲	128.48	points or ▲	0.83%	on	Thursday, 1 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15628.02	▲	128.48	▲	0.0083		
	Nasdaq___	3675.74	▲	49.37	▲	0.0136		
	S&P_500__	1706.87	▲	21.14	▲	0.0125		
	30_Yr_Bond	3.77	▲	0.13	▲	0.0351		

NYSE Volume	 4,221,032,500 	 	 	 	 	  		 
Nasdaq Volume	 1,844,778,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6681.98	▲	60.92	▲	0.0092		
	DAX_____	8410.73	▲	134.76	▲	0.0163		
	CAC_40__	4042.73	▲	50.04	▲	0.0125		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5047.1	▲	11.4	▲	0.0023		
	Shanghai_Comp	2029.07	▲	35.27	▲	0.0177		
	Taiwan_Weight	8056.22	▼	-51.72	▼	-0.0064		
	Nikkei_225____	14005.77	▲	337.45	▲	0.0247		
	Hang_Seng____	22088.79	▲	205.13	▲	0.0094		
	Strait_Times___	3243.29	▲	21.36	▲	0.0066		
	NZX_50_Index__	4545.77	▲	7.78	▲	0.0017		

http://finance.yahoo.com/news/p-500-closes-above-1-204607690.html

*S&P 500 closes above 1,700 points for first time

Stock market roars to record highs, S&P 500 closes above 1,700 for first time*

By Christina Rexrode, AP Business Writer 

Stocks roared back to record highs on Thursday, driven by good news on the economy.

The Standard & Poor's 500, the Dow Jones industrial average and the Russell 2000 index set all-time highs. The S&P broke through 1,700 points for the first time. The Nasdaq hit its highest level since September 2000.

The gains were driven by a steady flow of encouraging reports on the global economy.

Overnight, a positive read on China's manufacturing helped shore up Asian markets. An hour before U.S. trading started, the government reported that the number of people applying for unemployment benefits last week fell sharply. At mid-morning, a trade group said U.S. factories revved up production last month. And while corporate earnings news after the market closed Wednesday and throughout Thursday brought both winners and losers, investors were able to find enough reports that they liked, including those from CBS, MetLife and Yelp.

"It's just a lot of things adding up," said Russell Croft, portfolio manager of the Croft Value Fund in Baltimore. "It's hard to put your finger on why exactly, but basically it's a bunch of pretty good data points coming together to make a very good day."

Overall, analysts said, the news was good but not overwhelmingly so. Enough to suggest that the economy is improving, but not enough to prompt the Federal Reserve to withdraw its economic stimulus programs.

Earnings results covered a wide range. Boston Beer, which makes Samuel Adams, and home shopping network operator HSN rose after beating analysts' estimates for earnings and revenue. Kellogg, health insurer Cigna and cosmetics maker Avon were down after beating earnings predictions but missing on revenue.

It's becoming a familiar template this year. Stock indexes have been setting record highs since April even while the underlying economy is often described as improving, but hardly going gangbusters.

Economic indicators have been following a similar fashion. While layoffs are steadily declining, companies aren't hiring as quickly as they did before the financial crisis and Great Recession. The economy is growing, but not fast enough to drive significant job growth. The Commerce Department reported this week that gross domestic product, or GDP, the broadest measure of the economy, grew at a tepid annual rate of 1.7 percent in the second quarter.

"They're not great numbers, but they're positive and they're continuing to grow," said Tim Courtney, chief investment officer of Exencial Wealth Advisors in Oklahoma City. "That's about all the market needs to hear."

Because the stock market often looks ahead 6-9 months, it's not unusual for stock indexes to be ahead of economic indicators, when the economy is improving or worsening. Right now, stock investors may be anticipating a stronger economy and better earnings next year.

Among Thursday's stock index records: The S&P 500 index rose 21.14 points, or 1.3 percent, to 1,706.87. The Dow rose 128.48 points, or 0.8 percent, to 15,628.02. The Russell 2000 index of small-company stocks rose 14.62 points, or 1.4 percent, to 1,059.88.

The Nasdaq composite index rose 49.37 points, or 1.4 percent, to 3,675.74, in line with the daily gains of other indexes but still far short of its record. The Nasdaq, which is heavily weighted with technology stocks, briefly veered above 5,000 points in March 2000, just before the Internet bubble burst.

Investors said Thursday that the S&P's crossing over 1,700 points might give consumers a psychological boost, but they were hardly crowing about a new era in stocks. Turns out it's quite common for indexes to hit records. Since 1950, the S&P has hit a high about 7 percent of the time, or an average of about every 15 days, Courtney said. The S&P's last record close was just eight trading days earlier, on July 22.

The S&P made the jump from 1,600 to 1,700 in less than three months. The index first traded above 1,600 on May 3. The first close above 1,500 was in March 2000.

The market's sharp advance Thursday was a stark contrast with the previous two days, when the S&P 500 moved less than a point each day. On Tuesday, investors didn't want to make big moves ahead of the Federal Reserve's policy announcement the next day. On Wednesday, the Fed didn't make much news after all. The central bank said, unsurprisingly, that the U.S. economy was recovering but still needed help. The Fed didn't give any indication of when it might cut back on its bond-buying program, which has been supporting financial markets and keeping borrowing costs ultra-low.

Among the good economic and corporate news that cheered investors Thursday:

”” China's purchasing managers' index ”” a gauge of business sentiment ”” rose to 50.3 in July from 50.1 in June. Analysts had expected a modest decline below 50.

”” The Labor Department said that the number of Americans applying for unemployment benefits fell 19,000 to 326,000. That was the fewest since January 2008, one month after the Great Recession started in December 2007.

”” The Institute for Supply Management, a trade group of purchasing managers, said its index of manufacturing jumped to 55.4 in July, up from 50.9 in June and well above an expected reading of 51.8. A number above 50 indicates growth.

”” Auto companies reported strong sales gains for July. Ford, Chrysler and Nissan each reported U.S. sales growth of 11 percent compared with the same month a year ago.

An index of transportation stocks also rose sharply. Many investors see that sector as a leading indicator for the economy because freight and shipping companies tend to get busier as the economy improves.

The Dow Jones Transportation average jumped 208.26 points, or 3.2 percent, to 6,670.06, led by a surge in Con-way, a Michigan-based freight company that reported earnings Thursday that were far higher than investors expected. Con-way rose $4.34, or 10.5 percent, to $45.79.

The price of crude oil rose $2.86, or 2.7 percent, to $107.89 a barrel. Gold slipped $1.80 to $1,311.20 an ounce. The dollar rose against the euro and the Japanese yen.

The yield on the 10-year Treasury note rose sharply, to 2.72 percent from 2.58 percent late Wednesday. That means investors were selling U.S. government debt securities, possibly over fears that rates will go higher as the economy strengthens. When yields rise, the value of bonds falls.

Among stocks making big moves:

””Sprouts Farmers Markets more than doubled on the company's first day of trading, jumping $22.11 to $40.11 ”” another sign that investors are becoming more comfortable taking on risk.

””Yelp soared $9.70, or 23.2 percent, to $51.50. The consumer review website continued to lose money in its latest quarter, but it sold more ads and drew more visitors.

””Exxon Mobil fell $1.02, or 1.1 percent, to $92.73, after reporting lower earnings as oil and gas production slipped. Profit margins on refining oil also fell.


----------



## bigdog

Source: http://finance.yahoo.com 

A tepid jobs report Friday barely dented a summer rally on the stock market.

The Standard & Poor's 500 index ended the week 1 percent higher after breaking through 1,700 points for the first time Thursday. The index has risen for five of the last six weeks. The Dow Jones industrial average rose 0.6 percent and is on a streak of six weekly gains.

On Friday, indexes dropped in early trading after the U.S. added fewer jobs than forecast in July, curbing optimism that the economy is poised to pick up strength in the second half of the year. The market gradually recovered throughout the day and major indexes ended slightly higher. The gains were enough to set all-time highs for the Dow and S&P.

The government reported that 162,000 jobs were created last month, pushing the unemployment rate down to a 4 ½-year low of 7.4 percent. The number of jobs added was the lowest since March and below the 183,000 economists polled by FactSet were expecting.

Brad Sorensen, Charles Schwab's director of market and sector research, said the jobs report was "moderately disappointing."

"That tepid growth we've seen, (the economy) not being able to reach escape velocity, continues to be the story," Sorenson said.

Investors have been watching economic reports closely and trying to anticipate when the Federal Reserve will start easing back on its economic stimulus. The central bank is buying $85 billion in bonds every month to keep long-term interest rates low and encourage borrowing.

While the jobs report wasn't encouraging, it did make it more likely that the Fed would take its time cutting back on stimulus, said Doug Lockwood of Hefty Wealth Partners. The stimulus from the central bank has been an important factor powering a four-year bull run in stocks.

"As long as there's this concept that the Fed may still need to be involved and stimulate, that's good for both the bond and the stock market," said Lockwood. "You're seeing the trampoline effect; the market drops and then comes back up."

The S&P 500 ended Friday up 2.80 points, or 0.2 percent, to 1,709.67. The index is up 6.4 percent since the start of July. The Dow Jones industrial average rose 30.34 points, or 0.2 percent, to 15,658.36.

Seven of the 10 industry sectors that make up the S&P 500 gained, led by consumer discretionary stocks. Of the three groups that fell, energy stocks dropped the most. 														

 *The NYSE DOW closed  	HIGHER ▲	30.34	points or ▲	0.19%	on	Friday, 2 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15658.36	▲	30.34	▲	0.19%		
	Nasdaq___	3689.59	▲	13.84	▲	0.38%		
	S&P_500__	1709.67	▲	2.8	▲	0.16%		
	30_Yr_Bond	3.69	▼	-0.09	▼	-2.28%		

NYSE Volume	 3,401,879,500 	 	 	 	 	  		 
Nasdaq Volume	 1,664,601,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6647.87	▼	-34.11	▼	-0.51%		
	DAX_____	8406.94	▼	-3.79	▼	-0.05%		
	CAC_40__	4045.65	▲	2.92	▲	0.07%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5098.7	▲	51.6	▲	1.02%		
	Shanghai_Comp	2029.42	▲	0.35	▲	0.02%		
	Taiwan_Weight	8099.88	▲	43.66	▲	0.54%		
	Nikkei_225____	14466.16	▲	460.39	▲	3.29%		
	Hang_Seng____	22190.97	▲	102.18	▲	0.46%		
	Strait_Times___	3254.13	▲	10.84	▲	0.33%		
	NZX_50_Index__	4582.89	▲	37.12	▲	0.82%		

http://finance.yahoo.com/news/tepid-jobs-news-barely-dents-204822823.html

*Tepid jobs news barely dents stock market advance

A summer stock rally is barely dented by news of weak job growth; Dow gains for a sixth week*

By Steve Rothwell, AP Markets Writer

A tepid jobs report Friday barely dented a summer rally on the stock market.

The Standard & Poor's 500 index ended the week 1 percent higher after breaking through 1,700 points for the first time Thursday. The index has risen for five of the last six weeks. The Dow Jones industrial average rose 0.6 percent and is on a streak of six weekly gains.

On Friday, indexes dropped in early trading after the U.S. added fewer jobs than forecast in July, curbing optimism that the economy is poised to pick up strength in the second half of the year. The market gradually recovered throughout the day and major indexes ended slightly higher. The gains were enough to set all-time highs for the Dow and S&P.

The government reported that 162,000 jobs were created last month, pushing the unemployment rate down to a 4 ½-year low of 7.4 percent. The number of jobs added was the lowest since March and below the 183,000 economists polled by FactSet were expecting.

Brad Sorensen, Charles Schwab's director of market and sector research, said the jobs report was "moderately disappointing."

"That tepid growth we've seen, (the economy) not being able to reach escape velocity, continues to be the story," Sorenson said.

Investors have been watching economic reports closely and trying to anticipate when the Federal Reserve will start easing back on its economic stimulus. The central bank is buying $85 billion in bonds every month to keep long-term interest rates low and encourage borrowing.

While the jobs report wasn't encouraging, it did make it more likely that the Fed would take its time cutting back on stimulus, said Doug Lockwood of Hefty Wealth Partners. The stimulus from the central bank has been an important factor powering a four-year bull run in stocks.

"As long as there's this concept that the Fed may still need to be involved and stimulate, that's good for both the bond and the stock market," said Lockwood. "You're seeing the trampoline effect; the market drops and then comes back up."

The S&P 500 ended Friday up 2.80 points, or 0.2 percent, to 1,709.67. The index is up 6.4 percent since the start of July. The Dow Jones industrial average rose 30.34 points, or 0.2 percent, to 15,658.36.

Seven of the 10 industry sectors that make up the S&P 500 gained, led by consumer discretionary stocks. Of the three groups that fell, energy stocks dropped the most.

Investors were also assessing company earnings.

Chevron fell after it became the latest big energy company to disappoint investors with lower earnings. Chevron's profit fell 26 percent to $5.4 billion due to lower oil prices and maintenance work at refineries. The stock fell $1.49, or 1.2 percent, to $124.95.

LinkedIn surged $23.58, or 10.6 percent, to $235.50 after the professional networking company's results topped analysts' estimates. LinkedIn had its biggest quarterly membership gain since going public in May 2011.

In other trading, the Nasdaq composite rose 13.84 points, or 0.4 percent, to 3,689.59.

The technology-heavy index got a boost from PC maker Dell, which gained 72 cents, or 5.6 percent, to $13.68 after a special committee of the company's board agreed to an increased offer from founder Michael Dell. The deal would add a special dividend for shareholders.

Government bonds rose after the weak employment report. The yield on the 10-year Treasury note, which falls when the note's price increases, fell to 2.60 percent from 2.71 percent Thursday. Bonds were regaining some lost ground after a sell-off Thursday prompted by a string of promising economic reports.

Investors will have to live with increasing volatility in the bond market in coming months as the Federal Reserve eventually begins to wind down its stimulus program, said Ron Florance, managing director of investment strategy for Wells Fargo Private Bank.

The yield on the 10-year Treasury note is 1 percentage point higher than it was May 3, when it hit a low for the year of 1.63 percent.

Investors "are used to having stability in their bonds and volatility in their stocks," Florance said. "In the next 18 months it could be exactly the opposite, with stability in the stock market and volatility in the bond market."

The S&P 500 is up 19.9 percent this year, and has gained nine out of the last 10 months.

In commodities trading, the price of oil fell 95 cents, or 0.9 percent, to $106.94 a barrel. Gold fell 70 cents, or 0.1 percent, to $1,310.50 an ounce.

The dollar fell against the euro and the Japanese yen.

Among other stocks making big moves:

”” Viacom surged $4.81, or 6.5 percent, to $79.17 after the media company said its income rose 20 percent in the latest quarter, boosted by affiliate fee revenue its cable TV channels and higher advertising revenue. Viacom also increased its stock buyback program to $20 billion from $10 billion.

”” American International Group, the insurer the government bailed out during the financial crisis, rose $1.26, or 1.3 percent, to $48.33 after the company said late Thursday that its profit grew 17 percent in the second quarter. AIG also announced its first dividend since 2008 and said its board had approved a $1 billion stock buyback plan.

”” Weight Watchers International plunged $9.04, or 19 percent, to $37.99 after the company reported late Thursday that its second-quarter net income fell 16 percent. The company also named a new CEO and said recruitment trends are weak.

7894


----------



## bigdog

Source: http://finance.yahoo.com 

A quiet day of trading left stock indexes mixed Monday.

There was little in the way of news to shake the market out of a summertime stupor, other than a report from the Institute for Supply Management that the U.S. service sector expanded in July, helped by a rise in new orders.

It was the latest piece of data that economists and investors puzzled through as they try to judge how well the U.S. economy is doing.

Last Thursday, the ISM reported that manufacturing increased last month. The next day, the government reported that companies weren't hiring as many workers as economists had predicted.

The report out Monday wasn't enough to drive the market above its already high levels.

"I think it's flat for a reason," said Terry Sandven, chief equity strategist at U.S. Bank's wealth management group. "With broad indexes near all-time highs, we're due for a pause."

The Standard & Poor's 500 index breached 1,700 points for the first time last week. An improving U.S. economy and rising corporate profits have helped push the index up 19.7 percent this year.

The S&P 500 index slipped 2.53 points, or 0.2 percent, to close at 1,707.14 on Monday. Utilities led eight of the 10 industry groups in the index lower. Technology and consumer-staples companies eked out gains.

The Dow Jones industrial average fell 46.23 points, or 0.3 percent, to 15,612.13.

The technology-heavy Nasdaq composite index rose 3.36 points, or 0.09 percent, to 3,692.95.

Apple, the biggest company in the Nasdaq, rose after news that President Barack Obama's administration prevented a ban on imports of some iPhones and iPads. Apple gained $6.91, or 1 percent, to $469.45. 								

 *The NYSE DOW closed  	LOWER ▼	-46.23	points or ▼	-0.30%	on	Monday, 5 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15612.13	▼	-46.23	▼	-0.30%		
	Nasdaq___	3692.95	▲	3.36	▲	0.09%		
	S&P_500__	1707.14	▼	-2.53	▼	-0.15%		
	30_Yr_Bond	3.73	▲	0.04	▲	1.14%		

NYSE Volume	 2,727,915,500 	 	 	 	 	  		 
Nasdaq Volume	 1,454,656,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6619.58	▼	-28.29	▼	-0.43%		
	DAX_____	8398.38	▼	-8.56	▼	-0.10%		
	CAC_40__	4049.97	▲	4.32	▲	0.11%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5093.8	▼	-4.9	▼	-0.10%		
	Shanghai_Comp	2050.48	▲	21.06	▲	1.04%		
	Taiwan_Weight	8138.63	▲	38.75	▲	0.48%		
	Nikkei_225____	14258.04	▼	-208.12	▼	-1.44%		
	Hang_Seng____	22222.01	▲	31.04	▲	0.14%		
	Strait_Times___	3241.79	▼	-12.34	▼	-0.38%		
	NZX_50_Index__	4589.48	▲	6.59	▲	0.14%		

http://finance.yahoo.com/news/stocks-slip-quiet-day-wall-183710756.html

*Stocks slip on a quiet day on Wall Street

Stocks inch lower on a quiet day even as service sector expands; Apple rises, Revlon jumps*

By Matthew Craft, AP Business Writer

A quiet day of trading left stock indexes mixed Monday.

There was little in the way of news to shake the market out of a summertime stupor, other than a report from the Institute for Supply Management that the U.S. service sector expanded in July, helped by a rise in new orders.

It was the latest piece of data that economists and investors puzzled through as they try to judge how well the U.S. economy is doing.

Last Thursday, the ISM reported that manufacturing increased last month. The next day, the government reported that companies weren't hiring as many workers as economists had predicted.

The report out Monday wasn't enough to drive the market above its already high levels.

"I think it's flat for a reason," said Terry Sandven, chief equity strategist at U.S. Bank's wealth management group. "With broad indexes near all-time highs, we're due for a pause."

The Standard & Poor's 500 index breached 1,700 points for the first time last week. An improving U.S. economy and rising corporate profits have helped push the index up 19.7 percent this year.

The S&P 500 index slipped 2.53 points, or 0.2 percent, to close at 1,707.14 on Monday. Utilities led eight of the 10 industry groups in the index lower. Technology and consumer-staples companies eked out gains.

The Dow Jones industrial average fell 46.23 points, or 0.3 percent, to 15,612.13.

The technology-heavy Nasdaq composite index rose 3.36 points, or 0.09 percent, to 3,692.95.

Apple, the biggest company in the Nasdaq, rose after news that President Barack Obama's administration prevented a ban on imports of some iPhones and iPads. Apple gained $6.91, or 1 percent, to $469.45.

In June, the U.S. International Trade Commission ruled that the Apple devices violated a patent held by Samsung and issued the ban. The Obama administration had 60 days to decide whether to let it take effect.

Among other companies in the news, Berkshire Hathaway crept higher on the first day of trading after its earnings report. Warren Buffett's conglomerate posted a 46 percent rise in profit late Friday, easily beating Wall Street's estimates. Berkshire reported big paper gains on the value of its derivative contracts and higher earnings from its BNSF railroad. Its stock edged up 41 cents, or 0.4 percent, to $118.23.

Big companies have been reporting better second-quarter results. Analysts estimate that earnings for companies in the S&P 500 increased 4.4 percent over the same period a year earlier.

In the market for U.S. government bonds, the yield on the 10-year Treasury climbed to 2.64 percent from 2.60 percent in late Friday trading.

The dollar edged lower against the Japanese yen and rose slightly against the euro. Gold fell $8.10 to $1,302.40 an ounce and oil fell 38 cents to $106.50 a barrel.

Trading volume was well below average. Just 2.5 billion shares were traded on the New York Stock Exchange, versus a recent average of 3.4 billion.

Among other stocks making big moves:

”” CBS and Time Warner Cable both fell. The companies are involved in a dispute over fees that left CBS signals blocked in Time Warner Cable's systems in New York, Los Angeles and Dallas. CBS fell 67 cents, or 1 percent, to $53.86 and Time Warner Cable fell 68 cents, 0.6 percent, to $116.42.

””Revlon jumped after announcing that it will buy Colomer Group, which sells hair dye and other products to beauty salons. Revlon rose $1.66, or 7 percent, to $26.16.

””Tyson Foods, the nation's biggest meat producer, rose after announcing that its quarterly profits more than tripled. Tyson rose $1.18, or 4 percent, to $29.69.


----------



## bigdog

Source: http://finance.yahoo.com 

Warnings of weaker profits helped pull the stock market down on Tuesday, despite some positive economic news.

The Standard & Poor's 500 index had its biggest drop since June 24. The S&P lost 9.77 points, or 0.6 percent, to 1,697.37. All 10 sectors in the S&P 500 fell.

The Dow Jones industrial average fell 93.39 points, or 0.6 percent, to close at 15,518.74. The Nasdaq composite dropped 27.18 points, or 0.7 percent, to 3,665.77.

American Eagle plunged 12 percent after the retailer slashed its earnings forecast in half late Monday, blaming weak sales. The company said cutting prices on clothing to lure in shoppers was hitting its profit margins. American Eagle dropped $2.40 to $17.57.

Two of American Eagle's rivals also slumped. Abercrombie & Fitch lost $2.09, or 4 percent, to $49.57. Urban Outfitters lost $1.20, or 3 percent, to $42.47.

Most companies have reported better results during the second-quarter earnings season, but sales have slowed. A growing number of companies, including eBay and Marriott, have told analysts to lower their expectations for the coming quarters. The overall picture has left investors with little reason to cheer.

"Earnings have been moving up, just not spectacularly," said Cam Albright, director of asset allocation at Wilmington Trust Investment Advisors. "We'd be much happier to see better revenue growth than what we've seen."

Analysts expect companies in the Standard & Poor's 500 index to post earnings growth of 4.4 percent in the second quarter. But revenue is on track to shrink 0.6 percent.

Major indexes headed lower from the opening bell Tuesday, bottomed out around 11 a.m. then slowly recovered some of their losses. The Dow was down as much as 138 points.

IBM fell the most in the Dow following reports that the company would require some workers to take time off this month as hardware sales slow. Credit Suisse also cut its rating on the company. IBM dropped $4.51, or 2 percent, to $190.99.

In economic news, the government reported record U.S. exports in June and new data was released showing that home prices are rising sharply.

The stock market remains near record highs. The S&P 500 index closed above 1,700 points for the first time last week and rose five of the past six weeks. The S&P, a benchmark for most stock mutual funds, is up 19 percent this year, ahead of its 13 percent gain in 2012. 								

 *The NYSE DOW closed  	LOWER ▼	-93.39	points or ▼	-0.60%	on	Tuesday, 6 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15518.74	▼	-93.39	▼	-0.60%		
	Nasdaq___	3665.77	▼	-27.18	▼	-0.74%		
	S&P_500__	1697.37	▼	-9.77	▼	-0.57%		
	30_Yr_Bond	3.73	▲	0	▲	0.05%		

NYSE Volume	 3,417,527,000 	 	 	 	 	  		 
Nasdaq Volume	 1,527,632,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6604.21	▼	-15.37	▼	-0.23%		
	DAX_____	8299.73	▼	-98.65	▼	-1.17%		
	CAC_40__	4032.57	▼	-17.4	▼	-0.43%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5088	▼	-5.8	▼	-0.11%		
	Shanghai_Comp	2060.5	▲	10.02	▲	0.49%		
	Taiwan_Weight	8038.91	▼	-99.72	▼	-1.23%		
	Nikkei_225____	14401.06	▲	143.02	▲	1.00%		
	Hang_Seng____	21923.7	▼	-298.31	▼	-1.34%		
	Strait_Times___	3224.89	▼	-16.9	▼	-0.52%		
	NZX_50_Index__	4575.5	▼	-13.98	▼	-0.30%		

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Stocks slide on Wall Street; American Eagle drops

Stocks slide on Wall Street; American Eagle drops after cutting profit forecast*

By Matthew Craft, AP Business Writer 

Warnings of weaker profits helped pull the stock market down on Tuesday, despite some positive economic news.

The Standard & Poor's 500 index had its biggest drop since June 24. The S&P lost 9.77 points, or 0.6 percent, to 1,697.37. All 10 sectors in the S&P 500 fell.

The Dow Jones industrial average fell 93.39 points, or 0.6 percent, to close at 15,518.74. The Nasdaq composite dropped 27.18 points, or 0.7 percent, to 3,665.77.

American Eagle plunged 12 percent after the retailer slashed its earnings forecast in half late Monday, blaming weak sales. The company said cutting prices on clothing to lure in shoppers was hitting its profit margins. American Eagle dropped $2.40 to $17.57.

Two of American Eagle's rivals also slumped. Abercrombie & Fitch lost $2.09, or 4 percent, to $49.57. Urban Outfitters lost $1.20, or 3 percent, to $42.47.

Most companies have reported better results during the second-quarter earnings season, but sales have slowed. A growing number of companies, including eBay and Marriott, have told analysts to lower their expectations for the coming quarters. The overall picture has left investors with little reason to cheer.

"Earnings have been moving up, just not spectacularly," said Cam Albright, director of asset allocation at Wilmington Trust Investment Advisors. "We'd be much happier to see better revenue growth than what we've seen."

Analysts expect companies in the Standard & Poor's 500 index to post earnings growth of 4.4 percent in the second quarter. But revenue is on track to shrink 0.6 percent.

Major indexes headed lower from the opening bell Tuesday, bottomed out around 11 a.m. then slowly recovered some of their losses. The Dow was down as much as 138 points.

IBM fell the most in the Dow following reports that the company would require some workers to take time off this month as hardware sales slow. Credit Suisse also cut its rating on the company. IBM dropped $4.51, or 2 percent, to $190.99.

In economic news, the government reported record U.S. exports in June and new data was released showing that home prices are rising sharply.

The stock market remains near record highs. The S&P 500 index closed above 1,700 points for the first time last week and rose five of the past six weeks. The S&P, a benchmark for most stock mutual funds, is up 19 percent this year, ahead of its 13 percent gain in 2012.

Speculation that the Federal Reserve could start easing off its support for the economy helped knock commodity prices down Tuesday. Charles Evans, who votes on the Fed's policy as president of the Federal Reserve Bank of Chicago, said the Fed could start scaling back its bond buying later this year.

Gold fell $19.90, or 2 percent, to $1,282.50 an ounce, while silver sank 19.7 cents, or 1 percent, to $19.523 an ounce.

Traders often buy gold in the belief that the Fed's efforts would weaken the dollar and spur higher inflation, driving prices for gold and other precious metals higher. Hints from Fed officials that the bank may change course this year have battered commodity prices.

The yield on the 10-year Treasury note was unchanged from late Monday at 2.64 percent.

Among other companies in the news:

”” The Washington Post Co. rose $24.30, or 4 percent, to an even $593 after the company announced late Monday that it would sell its namesake newspaper to Amazon founder Jeff Bezos.

”” CVS Caremark sank $1.73, or 3 percent, to $59.89 after the drugstore operator lowered its earnings target for the year.

”” Molson Coors Brewing gained $3.18, or 6 percent, to $53.26. The company reported better earnings and revenue than analysts had expected, helped by sales in central Europe. Molson bought the Czech Republic-based brewer StarBev last year.


----------



## bigdog

Source: http://finance.yahoo.com 

Disappointing earnings news and a slump in bank stocks tugged the stock market down Wednesday, giving major indexes their first three-day drop since June.

Banks had some of the biggest losses following news that the government filed lawsuits accusing Bank of America of misleading investors.

The Standard & Poor's 500 index fell 6.46 points, or 0.4 percent, to close at 1,690.91. Seven of the index's 10 industry groups ended lower.

The Dow Jones industrial average fell 48.07 points, or 0.3 percent, to 15,470.67. The Nasdaq composite lost 11.76 points, or 0.3 percent, to 3,654.01.

The S&P 500 has drifted down 1.1 percent since reaching an all-time high of 1,709.67 on Friday. Trading has been thin this week, and warnings of slowing sales and tepid quarterly results have given investors no reason to push the market higher.

"I'm not concerned about the market being down over a few days given how much it's run up," said Paul Zemsky, the head of multi-asset strategies at ING Investment Management. "Put it in context, and it's not concerning."

The S&P 500 index closed above 1,700 points for the first time last Thursday and has already surged 18.6 percent this year. If the broad-market measure stays put for the rest of 2013, it would still be the S&P 500's best year since 2009.

In separate lawsuits filed Tuesday, the Justice Department and the Securities and Exchange Commission said the country's second-largest bank failed to tell investors about the risks involved in a 2008 sale of mortgage-backed bonds. BofA fell 11 cents, or 1 percent, to $14.53. 								

 *The NYSE DOW closed  	LOWER ▼	-48.07	points or ▼	-0.31%	on	Wednesday, 7 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15470.67	▼	-48.07	▼	-0.31%		
	Nasdaq___	3654.01	▼	-11.76	▼	-0.32%		
	S&P_500__	1690.91	▼	-6.46	▼	-0.38%		
	30_Yr_Bond	3.69	▼	-0.05	▼	-1.23%		

NYSE Volume	 3,305,355,750 	 	 	 	 	  		 
Nasdaq Volume	 1,659,722,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6511.21	▼	-93	▼	-1.41%		
	DAX_____	8260.48	▼	-39.25	▼	-0.47%		
	CAC_40__	4038.49	▲	5.92	▲	0.15%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	4996.6	▼	-91.4	▼	-1.80%		
	Shanghai_Comp	2046.78	▼	-13.72	▼	-0.67%		
	Taiwan_Weight	7921.29	▼	-117.62	▼	-1.46%		
	Nikkei_225____	13824.94	▼	-576.12	▼	-4.00%		
	Hang_Seng____	21588.84	▼	-334.86	▼	-1.53%		
	Strait_Times___	3229.91	▲	5.02	▲	0.16%		
	NZX_50_Index__	4548.3	▼	-27.2	▼	-0.59%		

http://finance.yahoo.com/news/weak-earnings-tug-stocks-lower-185421428.html

*Weak earnings tug stocks lower on Wall Street**

Weak earnings news help drag stocks lower, giving major indexes their third loss in a row*

By Matthew Craft, AP Business Writer

Disappointing earnings news and a slump in bank stocks tugged the stock market down Wednesday, giving major indexes their first three-day drop since June.

Banks had some of the biggest losses following news that the government filed lawsuits accusing Bank of America of misleading investors.

The Standard & Poor's 500 index fell 6.46 points, or 0.4 percent, to close at 1,690.91. Seven of the index's 10 industry groups ended lower.

The Dow Jones industrial average fell 48.07 points, or 0.3 percent, to 15,470.67. The Nasdaq composite lost 11.76 points, or 0.3 percent, to 3,654.01.

The S&P 500 has drifted down 1.1 percent since reaching an all-time high of 1,709.67 on Friday. Trading has been thin this week, and warnings of slowing sales and tepid quarterly results have given investors no reason to push the market higher.

"I'm not concerned about the market being down over a few days given how much it's run up," said Paul Zemsky, the head of multi-asset strategies at ING Investment Management. "Put it in context, and it's not concerning."

The S&P 500 index closed above 1,700 points for the first time last Thursday and has already surged 18.6 percent this year. If the broad-market measure stays put for the rest of 2013, it would still be the S&P 500's best year since 2009.

In separate lawsuits filed Tuesday, the Justice Department and the Securities and Exchange Commission said the country's second-largest bank failed to tell investors about the risks involved in a 2008 sale of mortgage-backed bonds. BofA fell 11 cents, or 1 percent, to $14.53.

Walt Disney reported quarterly earnings late Tuesday that narrowly beat Wall Street's estimates, but revenue came up short. Disney's executives also said the company will have to take a steep charge from a weak box-office welcome for "The Lone Ranger" movie this summer. Disney slumped $1.14, or 2 percent, to $65.91.

As the second-quarter earnings season winds down, the overall picture looks mixed. Most companies have reported better earnings along with weaker revenue.

In other trading Wednesday, crude oil fell 93 cents, or 0.9 percent, to settle at $104.37 a barrel. Gold gained $2.80 to $1,285.30 an ounce.

The yield on the 10-year Treasury note fell to 2.60 percent from 2.64 percent late Tuesday.

Among other companies in the news:

”” Ralph Lauren Corp. dropped $16.38, or 9 percent, to $173.13. Sluggish sales led the luxury retailer to report a drop in quarterly income early Wednesday. The company also gave a cautious sales forecast.

”” First Solar fell $6.28, or 13 percent, to $40.47. The company posted results late Tuesday that fell short of Wall Street's expectations. First Solar also cut its profit outlook.

”” Zillow, which operates a real-estate website, dropped $6.98, or 8 percent, to $83.73. After the market closed Tuesday, the company reported a loss in the second quarter as its costs nearly doubled.


----------



## bigdog

Source: http://finance.yahoo.com 

Miners and other companies dealing in commodities helped pull the stock market out of a three-day slump on Thursday.

News that China's trade rebounded last month signaled the end of a six-month slowdown for the world's biggest buyer of raw materials. The report drove prices up for copper and other commodities, and that helped lift Newmont Mining, Freeport-McMoRan and other stocks in the materials industry.

"The one thing that stands out today is the better news out of China," said David Joy, the chief market strategist at Ameriprise Financial. "It comes as a pleasant surprise."

The Standard & Poor's 500 index edged up 6.57 points, or 0.4 percent, to 1,697.48.

The Dow Jones industrial average rose 27.65 points, or 0.2 percent, to 15,498.32. The Nasdaq composite gained 15.12 points, or 0.4 percent, to 3,669.12.

With little other news to drive trading, the stock market had meandered lower this week. The S&P 500 index fell three days straight and remains down 0.7 for the week. It's still up 19 percent this year.

Brad McMillan, chief investment officer for Commonwealth Financial Network in Waltham, Mass., said a number of concerns have weighed on the market this week. Comments from Federal Reserve officials have convinced many investors that the bank will begin pulling back its support for the economy in the coming months.

In an interview on CNBC after the market closed, Richard Fisher, head of the Fed's Dallas branch, reaffirmed his view that it's time to wind down the bank's stimulus effort.

At the same time, companies are warning of slower sales and turning in tepid second-quarter results. McMillan said it's starting to look like corporate earnings haven't kept up with the stock market's strong pace this year. 								

 *The NYSE DOW closed  	HIGHER ▲	27.65	points or ▲	0.18%	on	Thursday, 8 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15498.32	▲	27.65	▲	0.18%		
	Nasdaq___	3669.12	▲	15.12	▲	0.41%		
	S&P_500__	1697.48	▲	6.57	▲	0.39%		
	30_Yr_Bond	3.67	▼	-0.01	▼	-0.38%		

NYSE Volume	 3,563,029,000 	 	 	 	 	  		 
Nasdaq Volume	 1,673,628,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6529.68	▲	18.47	▲	0.28%		
	DAX_____	8318.32	▲	57.84	▲	0.70%		
	CAC_40__	4064.32	▲	25.83	▲	0.64%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5047.1	▲	50.5	▲	1.01%		
	Shanghai_Comp	2044.9	▼	-1.88	▼	-0.09%		
	Taiwan_Weight	7907.67	▼	-13.62	▼	-0.17%		
	Nikkei_225____	13605.56	▼	-219.38	▼	-1.59%		
	Hang_Seng____	21655.88	▲	67.04	▲	0.31%		
	Strait_Times___	3229.91	▲	5.02	▲	0.16%		
	NZX_50_Index__	4541.38	▼	-6.92	▼	-0.15%		

http://finance.yahoo.com/news/surging-mining-stocks-end-slump-195151209.html

*Surging mining stocks end a slump on Wall Street

Surging mining stocks help snap a three-day slump on Wall Street as China's trade rebounds*

By Matthew Craft, AP Business Writer 

Miners and other companies dealing in commodities helped pull the stock market out of a three-day slump on Thursday.

News that China's trade rebounded last month signaled the end of a six-month slowdown for the world's biggest buyer of raw materials. The report drove prices up for copper and other commodities, and that helped lift Newmont Mining, Freeport-McMoRan and other stocks in the materials industry.

"The one thing that stands out today is the better news out of China," said David Joy, the chief market strategist at Ameriprise Financial. "It comes as a pleasant surprise."

The Standard & Poor's 500 index edged up 6.57 points, or 0.4 percent, to 1,697.48.

The Dow Jones industrial average rose 27.65 points, or 0.2 percent, to 15,498.32. The Nasdaq composite gained 15.12 points, or 0.4 percent, to 3,669.12.

With little other news to drive trading, the stock market had meandered lower this week. The S&P 500 index fell three days straight and remains down 0.7 for the week. It's still up 19 percent this year.

Brad McMillan, chief investment officer for Commonwealth Financial Network in Waltham, Mass., said a number of concerns have weighed on the market this week. Comments from Federal Reserve officials have convinced many investors that the bank will begin pulling back its support for the economy in the coming months.

In an interview on CNBC after the market closed, Richard Fisher, head of the Fed's Dallas branch, reaffirmed his view that it's time to wind down the bank's stimulus effort.

At the same time, companies are warning of slower sales and turning in tepid second-quarter results. McMillan said it's starting to look like corporate earnings haven't kept up with the stock market's strong pace this year.

"I think people are realizing that stock values are getting disconnected from earnings growth," McMillan said. "For the rally to continue, people will have to pay more for earnings that aren't growing that much."

Investors are paying more for profits. A year ago, the price-earnings ratio for the S&P 500 was 13.4, according to the data provider FactSet. Now it's 15.6, which is still near the long-run average.

Among companies reporting earnings, the maker of Oreo cookies, Mondelez International, turned in better results than Wall Street had expected late Wednesday. The company also announced plans to spend another $5 billion buying its own stock. Mondelez International gained $1.44, or 5 percent, to $32.70.

Tesla Motors jumped 14 percent following news that the maker of electric cars blew past Wall Street's profit forecasts for its most recent quarter. Revenue soared thanks to stronger sales of its Model S. Tesla gained $19.25 to $153.48.

In economic news, the government reported that the average number of people who applied for unemployment benefits over the past four weeks dropped 6,250 to 335,500. That's the lowest level since November 2007, a month before the Great Recession got underway.

Gradual but steady gains for the U.S. economy and corporate profits have lifted the stock market to record territory this year. The S&P 500 index closed at an all-time high of 1,709.67 on Friday.

In other Thursday trading, the better economic news out of China sent copper, widely used for electronics and to wire buildings, up 10 cents, or 3 percent, to $3.27 a pound. Gold rose $24.60, or 2 percent, to $1,309.90 an ounce.

The yield on the 10-year Treasury note fell to 2.58 percent from 2.60 percent late Wednesday.

Among other companies in the news:

”” Newmont Mining rose $2.30, or 9 percent, to $28.78 and Freeport-McMoRan Copper & Gold rose $1.37, or 5 percent, to $30.80. Mining companies rose broadly along with prices for commodities such as copper.

”” Groupon jumped $1.88, or 22 percent, to $10.60. The company named its co-founder Eric Lefkofsky as CEO late Wednesday and said it plans to buy $300 million of its own stock over the next two years.

”” J.C. Penney jumped 86 cents, or 7 percent, to $13.66 following a news report Thursday that the department store chain is starting a search to replace CEO Mike Ullman.


----------



## bigdog

Source: http://finance.yahoo.com 

Friday was the ho-hum capstone to a ho-hum week in the stock market as unimpressive earnings kept investors feeling wary and news about the U.S. economy left them uninspired.

All three major indexes ended lower, and almost everything about the day screamed summer. Trading was light and earnings season was nearly over.

The only major economic news the government released was wholesale inventories, and that's hardly a closely watched indicator. Those still at work remarked on the difference that just a week made ”” the S&P 500 and the Dow Jones industrial average both hit their highest closing levels exactly one week before ”” and joked that all their colleagues had already taken off for the Hamptons, a group of tony beach towns east of Manhattan.

"Practically the whole financial world is there today," said Jeff Sica, president and chief investment officer of Sica Wealth Management, from his office in Morristown, N.J.

Friday marked not just a losing day but also a losing week for the Dow, the S&P 500 and the Nasdaq composite. For the Dow, it was its first weekly loss since June.

The Dow closed down 72.81 points, or 0.5 percent, to 15,425.51. The S&P 500 index lost 6.06 points, or 0.4 percent, to 1,691.42. The Nasdaq composite was down 9.02 points, or 0.3 percent, to 3,660.11.

Investors couldn't pinpoint a specific reason for Friday's decline, but said the entire week ”” one when the Dow and S&P 500 rose on only one day ”” has been weighed down by uninspired earnings reports. Earnings are up, but by less than analysts had forecast at the beginning of the year, and revenue is falling. There are also worries that the market has already reached its highs for the year. The S&P 500 is up 19 percent for the year.

"There's no specific culprit here, but the market seems to be tired," said Robbert Van Batenburg, director of market strategy at Newedge in New York.

Comments this week from Federal Reserve officials also make it seem likely that the Fed will soon rein in its stimulus measures, which are meant to prop up the economy and stock market. Some investors worry that yanking off the Fed Band-Aid will reveal an economy that can't stand on its own. 								

 *The NYSE DOW closed  	LOWER ▼	-72.81	points or ▼	-0.47%	on	Friday, 9 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15425.51	▼	-72.81	▼	-0.47%		
	Nasdaq___	3660.11	▼	-9.02	▼	-0.25%		
	S&P_500__	1691.42	▼	-6.06	▼	-0.36%		
	30_Yr_Bond	3.64	▼	-0.03	▼	-0.90%		

NYSE Volume	 3,265,997,500 	 	 	 	 	  		 
Nasdaq Volume	 1,526,904,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6583.39	▲	53.71	▲	0.82%		
	DAX_____	8338.31	▲	19.99	▲	0.24%		
	CAC_40__	4076.55	▲	12.23	▲	0.30%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5038.8	▼	-8.3	▼	-0.16%		
	Shanghai_Comp	2052.23	▲	7.34	▲	0.36%		
	Taiwan_Weight	7856.14	▼	-51.53	▼	-0.65%		
	Nikkei_225____	13615.19	▲	9.63	▲	0.07%		
	Hang_Seng____	21807.56	▲	151.68	▲	0.70%		
	Strait_Times___	3229.91	▲	5.02	▲	0.16%		
	NZX_50_Index__	4533.64	▼	-7.74	▼	-0.17%		

http://finance.yahoo.com/news/stocks-slide-quiet-day-end-204905997.html

*Stocks slide on a quiet day, end down for the week

Stocks slide on a quiet summer day; Dow has its first weekly loss since June*

By Christina Rexrode, AP Business Writer

Friday was the ho-hum capstone to a ho-hum week in the stock market as unimpressive earnings kept investors feeling wary and news about the U.S. economy left them uninspired.

All three major indexes ended lower, and almost everything about the day screamed summer. Trading was light and earnings season was nearly over.

The only major economic news the government released was wholesale inventories, and that's hardly a closely watched indicator. Those still at work remarked on the difference that just a week made ”” the S&P 500 and the Dow Jones industrial average both hit their highest closing levels exactly one week before ”” and joked that all their colleagues had already taken off for the Hamptons, a group of tony beach towns east of Manhattan.

"Practically the whole financial world is there today," said Jeff Sica, president and chief investment officer of Sica Wealth Management, from his office in Morristown, N.J.

Friday marked not just a losing day but also a losing week for the Dow, the S&P 500 and the Nasdaq composite. For the Dow, it was its first weekly loss since June.

The Dow closed down 72.81 points, or 0.5 percent, to 15,425.51. The S&P 500 index lost 6.06 points, or 0.4 percent, to 1,691.42. The Nasdaq composite was down 9.02 points, or 0.3 percent, to 3,660.11.

Investors couldn't pinpoint a specific reason for Friday's decline, but said the entire week ”” one when the Dow and S&P 500 rose on only one day ”” has been weighed down by uninspired earnings reports. Earnings are up, but by less than analysts had forecast at the beginning of the year, and revenue is falling. There are also worries that the market has already reached its highs for the year. The S&P 500 is up 19 percent for the year.

"There's no specific culprit here, but the market seems to be tired," said Robbert Van Batenburg, director of market strategy at Newedge in New York.

Comments this week from Federal Reserve officials also make it seem likely that the Fed will soon rein in its stimulus measures, which are meant to prop up the economy and stock market. Some investors worry that yanking off the Fed Band-Aid will reveal an economy that can't stand on its own.

J.C. Penney was one of the few companies making news. Shares fell 6 percent as the company's board bickered with its largest shareholder, hedge fund manager Bill Ackman, over how quickly the company should replace its interim CEO. The stock lost 79 cents to $12.87.

The government reported that sales for U.S. wholesalers increased ”” but wholesalers also cut their stockpiles for a third straight month, an indication that they're uncertain about future demand.

Among stocks making big moves:

”” BlackBerry jumped after Reuters reported that the company may be growing more amenable to going private. The stock rose 53 cents, or 6 percent, to $9.76.

”” Priceline.com was up and came close to being the first S&P 500 company to cross $1,000. Shares of the travel website rose $36.14, or 4 percent, to $969.89, a day after the company announced earnings that were better than Wall Street analysts expected.

””Noodles & Co. plummeted after the restaurant chain predicted that sales growth at established restaurants will slow down. The stock lost fell $4.96, or 11 percent, to $42.31.

8382


----------



## bigdog

Source: http://finance.yahoo.com 

Corporate deal stories and technology stocks were bright spots on Wall Street Monday on a day when the indexes ended relatively flat.

BlackBerry jumped after the struggling smartphone maker said it would consider a sale. Dole Foods rose after its CEO said he would take the company private and Steinway Musical Instruments gained after receiving a new buyout offer.

Apple, another smartphone maker, was also in the news. The tech giant's stock rose after the blog AllThingsD said the company would release the latest version of its iPhone on Sept. 10. The stock's rise helped make technology stocks the leading gainers in the Standard & Poor's 500 index.

Still, those gains weren't enough to push the broad-market index up for the day.

The S&P fell 1.95 points, or 0.1 percent, to close at 1,689.47. The Dow Jones industrial average closed down 5.83 points, or less than 0.1 percent, at 15,419.68.

Stocks had opened lower after logging their biggest weekly loss in almost two months. By late morning the losses had been pared, and the S&P and Dow remained marginally lower throughout the day.

Apple rose $12.91, or 2.8 percent, to $467.30. The company makes up 7.9 percent of the Nasdaq composite and its advance pushed the index up 9.84 points, or 0.3 percent, to 3,669.95.

Newmont Mining was the biggest gainer in the Standard & Poor's 500 index after the prices of gold and silver advanced. Gold rose for a fourth day on reports of increased demand from China. Silver gained the most in three weeks.

Stocks have been treading water this month as companies finished reporting earnings for the second quarter and investors considered when the Federal Reserve will start to ease back on its economic stimulus. The U.S. central bank is buying $85 billion a month to keep long-term interest rates low. Many analysts expect that it will start reducing those purchases as soon as next month.

The tepid August follows big gains for stocks for July, when the S&P 500 rose 5 percent, its best month since January.

Stocks climbed last month after Fed Chairman Ben Bernanke reassured investors that the Fed would only ease back on its stimulus once the economy is strong enough to handle it. The Fed's stimulus has been a major factor driving a bull market for stocks that has lasted more than four years.

Any pullback in stocks now is presenting investors with a buying opportunity, said Doug Cote, chief market strategist with ING U.S. Investment Management. 								

 *The NYSE DOW closed  	LOWER ▼	-5.83	points or ▼	-0.04%	on	Monday, 12 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15419.68	▼	-5.83	▼	-0.04%		
	Nasdaq___	3669.95	▲	9.84	▲	0.27%		
	S&P_500__	1689.47	▼	-1.95	▼	-0.12%		
	30_Yr_Bond	3.67	▲	0.03	▲	0.74%		

NYSE Volume	 3,035,815,750 	 	 	 	 	  		 
Nasdaq Volume	 1,399,996,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6574.34	▼	-9.05	▼	-0.14%		
	DAX_____	8359.25	▲	20.94	▲	0.25%		
	CAC_40__	4071.68	▼	-4.87	▼	-0.12%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5094.1	▲	55.3	▲	1.10%		
	Shanghai_Comp	2101.28	▲	49.05	▲	2.39%		
	Taiwan_Weight	7903.38	▲	47.24	▲	0.60%		
	Nikkei_225____	13519.43	▼	-95.76	▼	-0.70%		
	Hang_Seng____	22271.28	▲	463.72	▲	2.13%		
	Strait_Times___	3232.24	▲	2.33	▲	0.07%		
	NZX_50_Index__	4522.3	▼	-11.34	▼	-0.25%		

http://finance.yahoo.com/news/miners-deal-stocks-apple-rise-212802991.html

*Miners, deal stocks, Apple rise on Wall Street

Miners, deal news catch investors' attention on an otherwise quiet day on Wall Street*

By Steve Rothwell, AP Markets Writer

Corporate deal stories and technology stocks were bright spots on Wall Street Monday on a day when the indexes ended relatively flat.

BlackBerry jumped after the struggling smartphone maker said it would consider a sale. Dole Foods rose after its CEO said he would take the company private and Steinway Musical Instruments gained after receiving a new buyout offer.

Apple, another smartphone maker, was also in the news. The tech giant's stock rose after the blog AllThingsD said the company would release the latest version of its iPhone on Sept. 10. The stock's rise helped make technology stocks the leading gainers in the Standard & Poor's 500 index.

Still, those gains weren't enough to push the broad-market index up for the day.

The S&P fell 1.95 points, or 0.1 percent, to close at 1,689.47. The Dow Jones industrial average closed down 5.83 points, or less than 0.1 percent, at 15,419.68.

Stocks had opened lower after logging their biggest weekly loss in almost two months. By late morning the losses had been pared, and the S&P and Dow remained marginally lower throughout the day.

Apple rose $12.91, or 2.8 percent, to $467.30. The company makes up 7.9 percent of the Nasdaq composite and its advance pushed the index up 9.84 points, or 0.3 percent, to 3,669.95.

Newmont Mining was the biggest gainer in the Standard & Poor's 500 index after the prices of gold and silver advanced. Gold rose for a fourth day on reports of increased demand from China. Silver gained the most in three weeks.

Stocks have been treading water this month as companies finished reporting earnings for the second quarter and investors considered when the Federal Reserve will start to ease back on its economic stimulus. The U.S. central bank is buying $85 billion a month to keep long-term interest rates low. Many analysts expect that it will start reducing those purchases as soon as next month.

The tepid August follows big gains for stocks for July, when the S&P 500 rose 5 percent, its best month since January.

Stocks climbed last month after Fed Chairman Ben Bernanke reassured investors that the Fed would only ease back on its stimulus once the economy is strong enough to handle it. The Fed's stimulus has been a major factor driving a bull market for stocks that has lasted more than four years.

Any pullback in stocks now is presenting investors with a buying opportunity, said Doug Cote, chief market strategist with ING U.S. Investment Management.

"There will be some near-term volatility, but it's a buying opportunity and a chance to get fully invested in the market," Cote said.

The S&P 500 is up 0.2 percent this month. For the year, it's up 18.5 percent.

Investors will get further clues about the strength of the economy this week when the U.S. Commerce Department publishes its July retail sales figures Tuesday. There will also be data on the housing market, industrial production and the Philadelphia Fed's survey of manufacturing on Thursday.

The market's reaction to the reports may be muted as many market participants are likely to be on vacation this week, said David Kelly, chief global strategist at JPMorgan Funds.

"When everybody is at the beach, it takes a louder bang to get the BlackBerries to start humming," Kelly said.

Sluggish economic growth figures from Japan, the world's third-largest economy, disappointed investors and weighed on the stock market in early trading.

The 2.6 percent annualized second-quarter growth rate recorded in Japan was below the 3.8 percent rate recorded in the first quarter and the 3.6 percent predicted by analysts. Japan's main stock index, the Nikkei, fell 0.7 percent on the news.

In commodities trading, the price of gold rose $22, or 1.7 percent, to $1,334.20 an ounce. Silver gained 93.2 cents, or 4.6 percent, to $21.34 an ounce.

Among mining stocks, Newmont Mining advanced $1.39, or 4.7 percent, to $30.90.

The price of oil fell 14 cents, or 0.1 percent, to $106.11 a barrel.

The yield on the 10-year Treasury note rose to 2.62 percent from 2.58 percent Friday. The dollar rose against the euro and the Japanese yen.

In deal news, BlackBerry gained $1.02, or 10.5 percent, to $10.78. Steinway climbed $3.36, or 9.3 percent, to $39.59 after an investment firm topped an earlier offer from Kohlberg & Co. Dole rose 68 cents, or 5.3 percent, to $13.49, after the company's CEO said he would take the company private in a deal that values it at $2.1 billion.

”” Among other stocks making big moves:

”” Krispy Kreme rose $1.12, or 5.2 percent, to $22.52 after the stock was upgraded by an analyst at Janney Capital Markets on the expectation that the company will have stronger sales growth than previously expected.

””Sysco, a food distributor, fell $2.02, or 5.8 percent, to $32.99 after the company said its net income fell 9 percent due to higher operating expenses and restructuring charges.

””Vical plunged $2.05, or 57 percent, to $1.53 after the drug developer said its potential cancer treatment failed in a late-stage study and that it would shift its focus to infectious disease vaccines.


----------



## bigdog

Source: http://finance.yahoo.com 

Major stock indexes eked out small gains Tuesday after an upturn in technology companies outweighed weakness in other parts of the market, including a drop in airlines.

The gain in technology stocks was driven by Apple. The technology company surged after billionaire investor Carl Icahn said on Twitter that he held a large position in Apple and that its stock was undervalued.

August is shaping up to be a lackluster month for the stock market as major indexes fail to add significantly to the gains they made in July. The Standard & Poor's 500 index has drifted lower, fluctuating between small losses and gains, since closing at an all-time high Aug. 2.

A sharp rise in Treasury yields also rippled through the stock market on Tuesday.

The yield on the 10-year note climbed to 2.72 percent, close to its highest in two years, on the latest signs that Europe is emerging from its recession. Industrial production in the 17 countries that use the euro rose in June and investor confidence increased in Germany, the region's biggest economy.

The sharp rise in yields lifted financial companies because higher interest rates could help them generate better profit margins. That helped offset declines in homebuilders and other stocks that are sensitive to rising borrowing costs.

The yield is also climbing on speculation that the Federal Reserve will cut its stimulus as the economy recovers. Atlanta Fed President Dennis Lockhart said Tuesday that it was too early to say when the bank would ease back on its stimulus, but hinted that it would likely happen before the end of the year.

"You could argue that stocks would be up higher today if the bond market was behaving," said John Canally, Investment Strategist for LPL Financial. "The market's trend right now is higher."

Homebuilder stocks slid on concern that mortgage rates will climb, raising the cost of buying a home and potentially blunting a recovery in the housing market. The stocks of phone companies and utilities that typically pay big dividends also fell. Those stocks have been slumping as Treasury yields have risen, because some investors had been buying them as an alternative to bonds as a source of investment income.

Airline stocks slumped after the federal government challenged the proposed merger of US Airways and American Airlines, a deal between two of the largest carriers. The government says the deal would result in "substantial harm to consumers" in higher fares and fees.

Major indexes started slightly higher, drifted lower at mid-morning, and were back up again in the afternoon. Trading has been unusually light this week and last as many investors take vacation.

"The market is drifting and consolidating here, and we think this is likely (to continue) over the next week or so," said Jim Russell, a Regional Investment Director at US Bank.

The S&P 500 index rose 4.69 points, or 0.3 percent, to 1,694.16. Although its advance has slowed this month, the index is still up 18.8 percent this year.

The Nasdaq composite rose 14.49 points, or 0.4 percent, to 3,684.44. The Dow Jones industrial average rose 31.33 points, or 0.2 percent, to 15,451.01.

Other indexes fell. The Dow Jones Transportation average dropped 42.48, or 0.7 percent, to 6,452, dragged down by the slump in airline stocks. Indexes measuring utilities and small-company stocks also fell. 								

 *The NYSE DOW closed  	HIGHER ▲	31.33	points or ▲	0.20%	on	Tuesday, 13 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15451.01	▲	31.33	▲	0.20%		
	Nasdaq___	3684.44	▲	14.49	▲	0.39%		
	S&P_500__	1694.16	▲	4.69	▲	0.28%		
	30_Yr_Bond	3.76	▲	0.09	▲	2.45%		

NYSE Volume	 3,302,553,250 	 	 	 	 	  		 
Nasdaq Volume	 1,617,371,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6611.94	▲	37.6	▲	0.57%		
	DAX_____	8415.76	▲	56.51	▲	0.68%		
	CAC_40__	4092.5	▲	20.82	▲	0.51%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5141.6	▲	47.8	▲	0.94%		
	Shanghai_Comp	2106.16	▲	4.87	▲	0.23%		
	Taiwan_Weight	7986.27	▲	82.89	▲	1.05%		
	Nikkei_225____	13867	▲	347.57	▲	2.57%		
	Hang_Seng____	22541.13	▲	269.85	▲	1.21%		
	Strait_Times___	3244.12	▲	11.88	▲	0.37%		
	NZX_50_Index__	4525.82	▲	3.52	▲	0.08%		

http://finance.yahoo.com/news/stock-market-ekes-small-gains-211037973.html

*Stock market ekes out small gains; Apple climbs

Stock market creeps higher after Apple climbs on Icahn stake; Merger challenge sinks airlines*

By Steve Rothwell, AP Markets Writer 

Major stock indexes eked out small gains Tuesday after an upturn in technology companies outweighed weakness in other parts of the market, including a drop in airlines.

The gain in technology stocks was driven by Apple. The technology company surged after billionaire investor Carl Icahn said on Twitter that he held a large position in Apple and that its stock was undervalued.

August is shaping up to be a lackluster month for the stock market as major indexes fail to add significantly to the gains they made in July. The Standard & Poor's 500 index has drifted lower, fluctuating between small losses and gains, since closing at an all-time high Aug. 2.

A sharp rise in Treasury yields also rippled through the stock market on Tuesday.

The yield on the 10-year note climbed to 2.72 percent, close to its highest in two years, on the latest signs that Europe is emerging from its recession. Industrial production in the 17 countries that use the euro rose in June and investor confidence increased in Germany, the region's biggest economy.

The sharp rise in yields lifted financial companies because higher interest rates could help them generate better profit margins. That helped offset declines in homebuilders and other stocks that are sensitive to rising borrowing costs.

The yield is also climbing on speculation that the Federal Reserve will cut its stimulus as the economy recovers. Atlanta Fed President Dennis Lockhart said Tuesday that it was too early to say when the bank would ease back on its stimulus, but hinted that it would likely happen before the end of the year.

"You could argue that stocks would be up higher today if the bond market was behaving," said John Canally, Investment Strategist for LPL Financial. "The market's trend right now is higher."

Homebuilder stocks slid on concern that mortgage rates will climb, raising the cost of buying a home and potentially blunting a recovery in the housing market. The stocks of phone companies and utilities that typically pay big dividends also fell. Those stocks have been slumping as Treasury yields have risen, because some investors had been buying them as an alternative to bonds as a source of investment income.

Airline stocks slumped after the federal government challenged the proposed merger of US Airways and American Airlines, a deal between two of the largest carriers. The government says the deal would result in "substantial harm to consumers" in higher fares and fees.

Major indexes started slightly higher, drifted lower at mid-morning, and were back up again in the afternoon. Trading has been unusually light this week and last as many investors take vacation.

"The market is drifting and consolidating here, and we think this is likely (to continue) over the next week or so," said Jim Russell, a Regional Investment Director at US Bank.

The S&P 500 index rose 4.69 points, or 0.3 percent, to 1,694.16. Although its advance has slowed this month, the index is still up 18.8 percent this year.

The Nasdaq composite rose 14.49 points, or 0.4 percent, to 3,684.44. The Dow Jones industrial average rose 31.33 points, or 0.2 percent, to 15,451.01.

Other indexes fell. The Dow Jones Transportation average dropped 42.48, or 0.7 percent, to 6,452, dragged down by the slump in airline stocks. Indexes measuring utilities and small-company stocks also fell.

In government bond trading, the yield on the 10-year Treasury note jumped to 2.72 percent from 2.62 percent Monday. The yield is used as a benchmark to set interest rates on many kinds of loans including home mortgages.

In commodities trading, the price of oil rose 72 cents, or 0.7 percent, to $106.83 a barrel. Gold dropped $13.70, or 1 percent, to $1,320.50 an ounce.

The dollar rose against the euro and the Japanese yen.

Among stocks making big moves:

”” J.C. Penney fell 49 cents, or 3.7 percent, to $12.68. The struggling department store chain faces an uncertain future after activist investor William Ackman resigned from the company's board.

”” Yum Brands, which owns the Taco Bell, Pizza Hut and KFC fast-food chains, slumped $1.50, or 2 percent, to $72.97 after reporting that its sales in China fell 13 percent in July.

”” Eli Lilly and Co. rose $1.40, or 2.6 percent, to $54.96 after the company said its potential lung cancer treatment necitumumab met a key research goal by helping to increase survival time for patients in a late-stage study.

”” PulteGroup fell 36 cents, or 2.3 percent, to $15.37, leading a broad decline in homebuilder stocks.

”” US Airways plunged $2.46, or 13.1 percent, to $16.36. Other airlines also fell. Delta Air Lines dropped $1.49, or 7.1 percent, to $19.55 and United Continental fell $2.48, or 7.5 percent, to $30.73.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market fell on Wednesday as a poor earnings report from Macy's cast doubt on the outlook for consumer spending, a vital component of the U.S. economy.

Other department store stocks also fell after Macy's reported disappointing earnings for the second quarter and cut its forecast for the year.

The stock market's early summer rally has fizzled out after a strong July, and August is shaping up to be a lackluster month as many traders and investors take their summer breaks. The major indexes have drifted lower in the past week after climbing to all-time highs at the start of the month.

"I do feel we are going to have a slight negative bias (to stocks), at least until Labor Day," said Chris Bertelsen at Global Financial Private Capital. "We've had a pretty significant run in the market. People are taking some of the stocks that have had big runs, and are moving away from them."

Consumer discretionary stocks in the Standard & Poor's 500 index, which include clothing retailers and restaurant chains, have fallen in the past month, paring their gains for the year. Makers of consumer staples, which investors favored early in the year because of the steady earnings they offered, have also dropped in the last month.

The S&P index closed down 8.77 points, or 0.5 percent, to 1,685.39 The index has declined in six of the last eight trading days and is flat for the month. In July it jumped 5 percent.

The sell-off was broad. Technology was the only one of the 10 industry sectors that rose in the S&P 500.

The Dow Jones industrial average was down 113.35 points, or 0.7 percent, at 15,337.66, the biggest drop in six weeks. Twenty-two of the stocks in the 30-member index declined.

The Nasdaq composite fell 15.17 points, or 0.5 percent, to 3,669.27. 	

Macy's, which operates its namesake stores and Bloomingdales, dropped $2.17, or 4.5 percent, to $46.33 after its profit fell short of analysts' estimates. Macy's blamed shoppers' reluctance to spend for a slip in sales.						

 *The NYSE DOW closed  	LOWER ▼	-113.35	points or ▼	-0.73%	on	Wednesday, 14 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15337.66	▼	-113.35	▼	-0.73%		
	Nasdaq___	3669.27	▼	-15.17	▼	-0.41%		
	S&P_500__	1685.39	▼	-8.77	▼	-0.52%		
	30_Yr_Bond	3.75	▲	0	▼	-0.11%		

NYSE Volume	 3,157,599,000 	 	 	 	 	  		 
Nasdaq Volume	 1,584,757,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6587.43	▼	-24.51	▼	-0.37%		
	DAX_____	8438.12	▲	22.36	▲	0.27%		
	CAC_40__	4114.2	▲	21.7	▲	0.53%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5141	▼	-0.6	▼	-0.01%		
	Shanghai_Comp	2100.14	▼	-6.02	▼	-0.29%		
	Taiwan_Weight	7951.33	▼	-34.94	▼	-0.44%		
	Nikkei_225____	14050.16	▲	183.16	▲	1.32%		
	Hang_Seng____	22541.13	▲	0	▲	0.00%	closed for holiday	
	Strait_Times___	3248.66	▲	4.54	▲	0.14%		
	NZX_50_Index__	4524.59	▼	-1.23	▼	-0.03%		

http://finance.yahoo.com/news/stocks-slump-wall-street-macys-193004458.html

*Stocks slump on Wall Street; Macy's drops

Stocks drop on Wall Street; Macy's drops on disappointing earnings*

By Steve Rothwell, AP Markets Writer

The stock market fell on Wednesday as a poor earnings report from Macy's cast doubt on the outlook for consumer spending, a vital component of the U.S. economy.

Other department store stocks also fell after Macy's reported disappointing earnings for the second quarter and cut its forecast for the year.

The stock market's early summer rally has fizzled out after a strong July, and August is shaping up to be a lackluster month as many traders and investors take their summer breaks. The major indexes have drifted lower in the past week after climbing to all-time highs at the start of the month.

"I do feel we are going to have a slight negative bias (to stocks), at least until Labor Day," said Chris Bertelsen at Global Financial Private Capital. "We've had a pretty significant run in the market. People are taking some of the stocks that have had big runs, and are moving away from them."

Consumer discretionary stocks in the Standard & Poor's 500 index, which include clothing retailers and restaurant chains, have fallen in the past month, paring their gains for the year. Makers of consumer staples, which investors favored early in the year because of the steady earnings they offered, have also dropped in the last month.

The S&P index closed down 8.77 points, or 0.5 percent, to 1,685.39 The index has declined in six of the last eight trading days and is flat for the month. In July it jumped 5 percent.

The sell-off was broad. Technology was the only one of the 10 industry sectors that rose in the S&P 500.

The Dow Jones industrial average was down 113.35 points, or 0.7 percent, at 15,337.66, the biggest drop in six weeks. Twenty-two of the stocks in the 30-member index declined.

The Nasdaq composite fell 15.17 points, or 0.5 percent, to 3,669.27.

Macy's, which operates its namesake stores and Bloomingdales, dropped $2.17, or 4.5 percent, to $46.33 after its profit fell short of analysts' estimates. Macy's blamed shoppers' reluctance to spend for a slip in sales.

Nordstrom, a rival to Macy's, fell 64 cents, or 1.1 percent, to $59.54. The company reports its second-quarter earnings on Thursday. Sears fell 44 cents, or 1 percent, to $41.73.

There were some bright spots for investors.

Apple rose above $500 for the first time since January, climbing as high as $504 during the day, before closing up $8.93, or 1.8 percent, $498.50. The company's stock jumped 4.75 percent Tuesday after activist investor Carl Icahn said he thinks Apple should be doing more to revive its stock price. Icahn also said he had a large, but unspecified stake, in the company.

The stock market is adjusting to the prospect of higher interest rates as the Federal Reserve contemplates easing back on its stimulus. The central bank is buying $85 billion of bonds a month to keep long-term interest rates low and encourage borrowing and has said it may cut those purchases if it feels the economy is strong enough. Higher interest rates would increase borrowing costs throughout the economy.

In government bond trading Wednesday, the yield on the 10-year Treasury note slipped to 2.71 percent from 2.72 percent Tuesday.

The yield has risen sharply since May 3, when it hit its low for the year of 1.63 percent, as investors anticipate that the Fed will step back from its bond purchases.

Big dividend payers like utilities and phone companies have been slumping since May as Treasury yields have risen. The higher bond yields have diminished the appeal of rich-dividend stocks as a source of income.

Home builders have also been falling because government bond yields are used to set mortgage rates. If mortgage rates increase sharply, it could cool demand for homes and squelch a recovery in the housing market.

PulteGroup dropped for a seventh day out of the past eight, declining 26 cents, or 1.7 percent, to $15.11. Lennar dropped 50 cents, or 1.6 percent, to $31.66.

Investors may also be turning their attention to European stocks at the expense of U.S. markets.

Data showing that the economies of the countries that use the euro were out of recession gave a jolt to European stocks Wednesday. Eurostat, the European Union's statistics office, said the eurozone grew 0.3 percent in the April-to-June period, its first growth since late 2011.

"There are now clear signs that Europe is turning," said Jurrien Timmer, a portfolio manager at Fidelity Investments. The "U.S. could underperform Europe here, or may trade sideways while Europe advances."

While the S&P 500 has advanced 18.2 percent this year, Europe's biggest stock indexes have gained less. Germany's benchmark DAX index has climbed 11 percent, France's CAC-40 has gained 13 percent, and Italy's FTSE MIB has risen 7.3 percent.

In commodities trading, the price of oil edged up 2 cents to $106.85 a barrel. Gold rose $12.90, or 1 percent, to $1,333.40 an ounce.

The dollar rose a fraction against the euro and dropped against the Japanese yen.

After the close of trading, Cisco Systems reported quarterly earnings. The results just managed to beat Wall Street's expectations and the company's stock price was down $2.60, or 10 percent, to $23.78 an hour after the close. The company sells routers, switches, software and services to corporate customers and government agencies.

Among other stocks making big moves:

”” Steinway Musical Instruments jumped $3.02, or 7.9 percent, to $41.29 after agreeing to be purchased for $499 million by the investment firm Paulson & Co.

”” SeaWorld, which made its stock market debut in April, slumped $1.37, or 3.8 percent, to $34.94 after the company reported a loss for the second quarter as foul weather and higher ticket prices kept crowds away.


----------



## bigdog

Source: http://finance.yahoo.com 

Grim sales forecasts from two major companies and concern that the Federal Reserve will soon start withdrawing its support for the economy pummeled the stock market Thursday.

The Dow Jones industrial average slumped 225 points, its worst day in nearly two months. Investors also dumped bonds, driving the yield on the 10-year Treasury note to its highest level in more than two years.

Before the start of trading, Wal-Mart cut its estimates for annual revenue and profit, warning that cautious shoppers are spending less. The news followed a disappointing revenue forecast from Cisco Systems late Wednesday.

In a twist, more signs of resilience in the U.S. economy weighed on the stock market. Reports on inflation and the job market appeared to raise the odds that the Fed would begin winding down its massive bond-buying program as early as next month. Many investors think that the Fed's effort has underpinned the stock market's record run.

"People are worried that this move up in interest rates will kill the recovery, and we won't see the anticipated second-half improvement in growth and corporate earnings," said Alec Young, global equity strategist at S&P Capital IQ.

The Standard & Poor's 500 index fell 24.07 points, or 1.4 percent, to 1,661.32. The selling swept across all 10 industry groups in the index.

The Dow lost 225.47 points, or 1.5 percent, to 15,112.19. The Nasdaq composite index fell 63.16 points, or 1.7 percent, to 3,606.12.

"It seems like an overreaction today," said Randy Frederick, managing director of active trading and derivatives at the Schwab Center for Financial Research.

Frederick said many investors are speculating that the improving economy means the Fed will start pumping less money into the financial system in the coming months. If that results in lower bond prices and even higher yields, it could lead more investors to dump dividend-paying stocks in favor of bonds.

"Some of the stocks getting hit hardest recently are big companies paying dividends," Frederick said. Utilities stocks are down 3 percent this week, for example, the worst of the S&P 500's industry groups. 								

 *The NYSE DOW closed  	LOWER ▼	-225.47	points or ▼	-1.47%	on	Thursday, 15 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15112.19	▼	-225.47	▼	-1.47%		
	Nasdaq___	3606.12	▼	-63.16	▼	-1.72%		
	S&P_500__	1661.32	▼	-24.07	▼	-1.43%		
	30_Yr_Bond	3.79	▲	0.04	▲	1.07%		

NYSE Volume	 3,828,694,500 	 	 	 	 	  		 
Nasdaq Volume	 1,699,214,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6483.34	▼	-104.09	▼	-1.58%		
	DAX_____	8376.29	▼	-61.83	▼	-0.73%		
	CAC_40__	4093.2	▼	-21	▼	-0.51%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5136.7	▼	-4.3	▼	-0.08%		
	Shanghai_Comp	2081.88	▼	-18.26	▼	-0.87%		
	Taiwan_Weight	7887.26	▼	-64.07	▼	-0.81%		
	Nikkei_225____	13752.94	▼	-297.22	▼	-2.12%		
	Hang_Seng____	22539.25	▼	-1.88	▼	-0.01%		
	Strait_Times___	3220.92	▼	-27.74	▼	-0.85%		
	NZX_50_Index__	4530.26	▲	5.67	▲	0.13%		

http://finance.yahoo.com/news/warnings-slower-sales-drive-us-181450208.html

*Warnings of slower sales drive US stocks lower

Slower sales forecasts from Wal-Mart and Cisco drive stock market lower; Dow down 225 points*

By Matthew Craft, AP Business Writer

Grim sales forecasts from two major companies and concern that the Federal Reserve will soon start withdrawing its support for the economy pummeled the stock market Thursday.

The Dow Jones industrial average slumped 225 points, its worst day in nearly two months. Investors also dumped bonds, driving the yield on the 10-year Treasury note to its highest level in more than two years.

Before the start of trading, Wal-Mart cut its estimates for annual revenue and profit, warning that cautious shoppers are spending less. The news followed a disappointing revenue forecast from Cisco Systems late Wednesday.

In a twist, more signs of resilience in the U.S. economy weighed on the stock market. Reports on inflation and the job market appeared to raise the odds that the Fed would begin winding down its massive bond-buying program as early as next month. Many investors think that the Fed's effort has underpinned the stock market's record run.

"People are worried that this move up in interest rates will kill the recovery, and we won't see the anticipated second-half improvement in growth and corporate earnings," said Alec Young, global equity strategist at S&P Capital IQ.

The Standard & Poor's 500 index fell 24.07 points, or 1.4 percent, to 1,661.32. The selling swept across all 10 industry groups in the index.

The Dow lost 225.47 points, or 1.5 percent, to 15,112.19. The Nasdaq composite index fell 63.16 points, or 1.7 percent, to 3,606.12.

"It seems like an overreaction today," said Randy Frederick, managing director of active trading and derivatives at the Schwab Center for Financial Research.

Frederick said many investors are speculating that the improving economy means the Fed will start pumping less money into the financial system in the coming months. If that results in lower bond prices and even higher yields, it could lead more investors to dump dividend-paying stocks in favor of bonds.

"Some of the stocks getting hit hardest recently are big companies paying dividends," Frederick said. Utilities stocks are down 3 percent this week, for example, the worst of the S&P 500's industry groups.

The government said early Thursday that the number of Americans applying for unemployment benefits dropped to 320,000 last week. That's the lowest level since October 2007, two months before the start of the Great Recession.

A slowly improving economy should eventually lead to higher spending and more sales for big companies. But that's down the road. Right now, investors are more focused on the Fed's next move, said Natalie Trunow, the chief investment officer at Calvert Investments.

"There's this counter-intuitive reaction to economic news," Trunow said. "Positive data comes out and markets aren't excited about it. They say, 'Uh-oh, the stimulus will be removed.' "

Wal-Mart fell $1.99, or 3 percent, to $74.41 after the world's largest retailer cut its profit and revenue forecasts for 2013. It also reported second-quarter results that missed Wall Street's estimates.

Cisco Systems announced plans to cut 5 percent of its workforce, roughly 4,000 employees, as sales slow. CEO John Chambers called the global economy "challenging and inconsistent." Cisco plunged $1.89, or 7 percent, to $24.48, the biggest drop of the 30 big companies in the Dow.

Cisco's announcement led to selling in other technology stocks, as it's widely regarded as a bellwether for the entire industry. That's because the company sells a wide range of products to corporations and governments and its fiscal quarters end a month later than most major technology companies, which gives investors an early look into current conditions.

The Dow has slumped 2 percent this week, and the S&P 500 is down 1.8 percent.

The stock market reached all time-highs on Aug. 2. The Dow is still up 15 percent in 2013; the S&P 500 up 16 percent.

In the market for U.S. government bonds, the yield on the 10-year Treasury note jumped as high as 2.81 percent, the highest level since July 2011. The yield drifted back to 2.77 percent in the afternoon, up from 2.71 percent late Wednesday.

Higher long-term interest rates could cool housing sales because the 10-year U.S. government bond acts as a benchmark for interest rates on mortgage loans.

"A sharp increase in long-term rates translates into a sharp increase in mortgage rates," Trunow said. "That's bound to impact the housing market."


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks fell Friday, closing out what was the worst week of the year for the Dow Jones Industrial Average.

The market was dragged lower by a weak performance from retailers and companies sensitive to higher interest rates. Homebuilders and banking stocks were among the best performers.

Stocks had a decent start in the first half of the week, but investors were hit hard in the last three days. Overall, the Dow retreated 2.2 percent for the week, its worst for 2013. The broader Standard & Poor's 500 index lost 2.1 percent for the week, its second-worst performance of the year.

The possibility of a cutback in the Federal Reserve's massive bond-buying program in September has roiled the bond market in the last couple of weeks, which in turn spilled over into the stock market. The yield on the benchmark U.S. 10-year Treasury note rose to 2.83 percent, its highest level since July 2011. A week ago, the yield was 2.58 percent. In the bond market, yields rise as bond prices fall.

"When yields are going up like this, that's scary for most equity investors," said Brian Reynolds, chief market strategist at Rosenblatt Securities.

On Friday, the S&P 500 lost 5.49 points, or 0.33 percent, to 1,655.83. The Dow fell 30.72 points, or 0.2 percent, to 15,081.47 and the Nasdaq composite lost 3.34 points, or 0.1 percent, to 3,602.78.

Shares of utilities and telecommunications companies, which typically perform poorly in a higher interest-rate environment, closed broadly lower. New York-based utility Consolidated Edison Inc. fell 75 cents, or 1.3 percent, to $56.64 while California's PG&E was down 71 cents, or 1.6 percent, to $42.64. Dow components Verizon Communications Inc. and AT&T Inc. fell 1.7 percent and 0.5 percent, respectively. 								

 *The NYSE DOW closed  	LOWER ▼	-30.72	points or ▼	-0.20%	on	Friday, 16 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15081.47	▼	-30.72	▼	-0.20%		
	Nasdaq___	3602.78	▼	-3.34	▼	-0.09%		
	S&P_500__	1655.83	▼	-5.49	▼	-0.33%		
	30_Yr_Bond	3.86	▲	0.07	▲	1.71%		

NYSE Volume	 3,594,484,250 	 	 	 	 	  		 
Nasdaq Volume	 1,493,385,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6499.99	▲	16.65	▲	0.26%		
	DAX_____	8391.94	▲	15.65	▲	0.19%		
	CAC_40__	4123.89	▲	30.69	▲	0.75%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5100.1	▼	-36.6	▼	-0.71%		
	Shanghai_Comp	2068.45	▼	-13.43	▼	-0.64%		
	Taiwan_Weight	7925	▲	37.74	▲	0.48%		
	Nikkei_225____	13650.11	▼	-102.83	▼	-0.75%		
	Hang_Seng____	22517.81	▼	-21.44	▼	-0.10%		
	Strait_Times___	3197.53	▼	-23.39	▼	-0.73%		
	NZX_50_Index__	4513.88	▼	-16.39	▼	-0.36%		

http://finance.yahoo.com/news/dow-w...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Dow has worst week of 2013

Stock market ends week mildly lower, hurt by retailers and utilities*

By Ken Sweet, AP Markets Writer

Stocks fell Friday, closing out what was the worst week of the year for the Dow Jones Industrial Average.

The market was dragged lower by a weak performance from retailers and companies sensitive to higher interest rates. Homebuilders and banking stocks were among the best performers.

Stocks had a decent start in the first half of the week, but investors were hit hard in the last three days. Overall, the Dow retreated 2.2 percent for the week, its worst for 2013. The broader Standard & Poor's 500 index lost 2.1 percent for the week, its second-worst performance of the year.

The possibility of a cutback in the Federal Reserve's massive bond-buying program in September has roiled the bond market in the last couple of weeks, which in turn spilled over into the stock market. The yield on the benchmark U.S. 10-year Treasury note rose to 2.83 percent, its highest level since July 2011. A week ago, the yield was 2.58 percent. In the bond market, yields rise as bond prices fall.

"When yields are going up like this, that's scary for most equity investors," said Brian Reynolds, chief market strategist at Rosenblatt Securities.

On Friday, the S&P 500 lost 5.49 points, or 0.33 percent, to 1,655.83. The Dow fell 30.72 points, or 0.2 percent, to 15,081.47 and the Nasdaq composite lost 3.34 points, or 0.1 percent, to 3,602.78.

Shares of utilities and telecommunications companies, which typically perform poorly in a higher interest-rate environment, closed broadly lower. New York-based utility Consolidated Edison Inc. fell 75 cents, or 1.3 percent, to $56.64 while California's PG&E was down 71 cents, or 1.6 percent, to $42.64. Dow components Verizon Communications Inc. and AT&T Inc. fell 1.7 percent and 0.5 percent, respectively.

Retailers continued their multi-day selloff. Nordstrom Inc. gave a bleak sales outlook late Thursday that echoed similar forecasts from Wal-Mart Stores Inc. and Macy's Inc. earlier this week. The outlooks have raised worries that U.S. shoppers might be pulling back on spending.

Nordstrom's stock fell $2.90, or 4.9 percent, to $56.43, making it the biggest decliner in the S&P 500.

The retail industry is a closely-watched part of the U.S. economy as consumer spending makes up roughly 70 percent of economic activity. The disappointing outlooks are worrisome because they take into account the back-to-school shopping season, typically the second-biggest shopping period for U.S. retailers.

"It's left us scratching our heads," said John Fox, who oversees $873 million in assets as co-manager of the FAM Value Fund. "It really forces you to ask the question: 'is the consumer slowing down?'"

Investors have also been concerned about what will happen to the stock market -- and the U.S. economy -- if the Fed begins winding down its $85 billion-a-month bond-buying program in September. Some investors think that the Fed's program has been a large contributor to the stock market's record run.

"The big question is, will the Fed eliminate the bond-buying program in September, and, if so, how they will they remove the bond buying," said Frank Davis, director of sales and trading for LEK Securities.

Reynolds said investors should expect more selling ahead of the Fed's decision.

"Expect a correction, but a shallower correction than the one that happened in June," he said.

With the bond market in decline and stocks selling off, investors shifted into a safer asset ”” gold. Its price rose $10.1, or 0.7 percent, to $1,371. Gold had its third-best week this year, rising 3.7 percent.

In other news, personal computer maker Dell Inc. reported a 72-percent drop in its fiscal second-quarter earnings. That may help convince Dell shareholders to approve the $24.8 billion buyout proposed by founder Michael Dell. and private-equity firm Silver Lake.

Shares of Dell rose 12 cents, or 0.8 percent, to $13.82 - below the proposed buyout price of $13.88 per share.

8901


----------



## bigdog

Source: http://finance.yahoo.com 

U.S. stocks dropped for a fourth day in a row Monday as investors continued to express worry about the recent rise in bond yields. Banking stocks also dragged down the broader market.

The Dow Jones industrial average dropped 70.73 points, or 0.47 percent, to 15,010.74. The Standard & Poor's 500 index lost 9.78 points, or 0.6 percent, to 1,646.05. The market fell broadly; 4 stocks fell for every one that rose on the New York Stock Exchange.

The technology-heavy Nasdaq composite index also fell, losing 13.69 points, or 0.48 percent, to 3,589.09. The Russell 2000 index, which is made up of primarily riskier, small-company stocks, fell nearly twice as much as the S&P 500. That index fell 11.05 points, or 1 percent, to 1,013.25.

Investors had little data to digest Monday, so the focus for many remained the ongoing climb in bond yields. The yield on the benchmark 10-year Treasury note rose to 2.88 percent from 2.83 percent Friday. Yields are at their highest level since July 2011.

The 10-year yield has been rising sharply from a recent low of 1.63 percent reached in early May as the economy has improved and as investors anticipate an end to the Federal Reserve's huge bond-buying program as early as next month. The program has been keeping interest rates low to encourage borrowing and hiring.

"We've been in this artificially low interest rate environment for so long, it's hard to figure out what 'normal' is," said Jim Dunigan, chief investment officer with PNC Wealth Management.

The quick rise in bond yields has worried some investors because it leads to higher interest rates on many kinds of loans, including home mortgages and corporate loans.

"I do think we're not too far away from that point in time where this heavy increase in bond yields is going to start impacting the (stock) markets," said Doug Peebles, chief investment officer of AllianceBernstein Fixed Income.

Homebuilders were hit hard on Monday as traders worried that higher mortgage rates could upset a recovery in the housing market. Lennar, PulteGroup and D.R. Horton all fell roughly 4 percent.

Some investors expect the 10-year note could rise above the psychologically important 3 percent mark as early as month's end.

Monday's losses come after the Dow posted its worst week of 2013. The benchmark index fell 2.2 percent last week and the S&P 500 lost 2.1 percent. The Dow and the S&P 500 have not had a four-day losing streak since December 2012.

Bank stocks moved lower after a report from the Federal Reserve appeared to indicate that large bank holding companies -- firms such as JPMorgan Chase & Co., Citigroup, Bank of America and others -- could need to raise additional capital. 								

 *The NYSE DOW closed  	LOWER ▼	-70.73	points or ▼	-0.47%	on	Monday, 19 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15010.74	▼	-70.73	▼	-0.47%		
	Nasdaq___	3589.09	▼	-13.69	▼	-0.38%		
	S&P_500__	1646.06	▼	-9.77	▼	-0.59%		
	30_Yr_Bond	3.9	▲	0.05	▲	1.17%		

NYSE Volume	 3,226,814,250 	 	 	 	 	  		 
Nasdaq Volume	 1,398,264,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6465.73	▼	-34.26	▼	-0.53%		
	DAX_____	8366.29	▼	-25.65	▼	-0.31%		
	CAC_40__	4083.98	▼	-39.91	▼	-0.97%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5102.3	▲	2.2	▲	0.04%		
	Shanghai_Comp	2085.6	▲	17.15	▲	0.83%		
	Taiwan_Weight	7900.21	▼	-24.79	▼	-0.31%		
	Nikkei_225____	13758.13	▲	108.02	▲	0.79%		
	Hang_Seng____	22463.7	▼	-54.11	▼	-0.24%		
	Strait_Times___	3173.33	▼	-24.2	▼	-0.76%		
	NZX_50_Index__	4503.22	▼	-10.65	▼	-0.24%		

http://finance.yahoo.com/news/stocks-drop-fourth-straight-day-203940796.html

*Stocks drop for a fourth straight day

Stock market slips on bond market worries; Dow, S&P have first four-day drop this year*

By Ken Sweet, AP Markets Writer

U.S. stocks dropped for a fourth day in a row Monday as investors continued to express worry about the recent rise in bond yields. Banking stocks also dragged down the broader market.

The Dow Jones industrial average dropped 70.73 points, or 0.47 percent, to 15,010.74. The Standard & Poor's 500 index lost 9.78 points, or 0.6 percent, to 1,646.05. The market fell broadly; 4 stocks fell for every one that rose on the New York Stock Exchange.

The technology-heavy Nasdaq composite index also fell, losing 13.69 points, or 0.48 percent, to 3,589.09. The Russell 2000 index, which is made up of primarily riskier, small-company stocks, fell nearly twice as much as the S&P 500. That index fell 11.05 points, or 1 percent, to 1,013.25.

Investors had little data to digest Monday, so the focus for many remained the ongoing climb in bond yields. The yield on the benchmark 10-year Treasury note rose to 2.88 percent from 2.83 percent Friday. Yields are at their highest level since July 2011.

The 10-year yield has been rising sharply from a recent low of 1.63 percent reached in early May as the economy has improved and as investors anticipate an end to the Federal Reserve's huge bond-buying program as early as next month. The program has been keeping interest rates low to encourage borrowing and hiring.

"We've been in this artificially low interest rate environment for so long, it's hard to figure out what 'normal' is," said Jim Dunigan, chief investment officer with PNC Wealth Management.

The quick rise in bond yields has worried some investors because it leads to higher interest rates on many kinds of loans, including home mortgages and corporate loans.

"I do think we're not too far away from that point in time where this heavy increase in bond yields is going to start impacting the (stock) markets," said Doug Peebles, chief investment officer of AllianceBernstein Fixed Income.

Homebuilders were hit hard on Monday as traders worried that higher mortgage rates could upset a recovery in the housing market. Lennar, PulteGroup and D.R. Horton all fell roughly 4 percent.

Some investors expect the 10-year note could rise above the psychologically important 3 percent mark as early as month's end.

Monday's losses come after the Dow posted its worst week of 2013. The benchmark index fell 2.2 percent last week and the S&P 500 lost 2.1 percent. The Dow and the S&P 500 have not had a four-day losing streak since December 2012.

Bank stocks moved lower after a report from the Federal Reserve appeared to indicate that large bank holding companies -- firms such as JPMorgan Chase & Co., Citigroup, Bank of America and others -- could need to raise additional capital.

In the report, the central bank said large banks had made "substantial improvements" in how they plan for future potential financial crises; however the Fed also said there was "considerable room for advancement."

JPMorgan fell $1.46, or 2.7 percent, to $51.83 while Bank of America fell 27 cents, or 1.9 percent, to $14.15. Morgan Stanley fell 66 cents, or 2.5 percent, to $25.81.

Banks have faced intense regulatory pressure to increase their capital ratios -- the amount of money they hold in reserve -- since the financial crisis five years ago. Several banks that failed, including Washington Mutual, Lehman Brothers and Bear Stearns, were criticized for not holding enough capital to protect their balance sheets from the losses stemming from bad mortgages.

Investors should expect more focus on the Fed this week. On Wednesday the Federal Reserve will publish the minutes of its July policy meeting, and on Thursday the Fed starts its annual conference in Jackson Hole, Wyo.

The Fed minutes will be the most important item for investors this week, said Kristina Hooper, head of investment and client strategies for the U.S. at Allianz Global Investors.

"It will give us insight into what the Fed is looking at to decide," Hooper said. "I don't think the Fed has made up its mind on what it's going to do in September yet."

A sell-off in retailers continued Monday. Saks, the luxury retailer, reported a wider loss two weeks after agreeing to be bought by the Canadian retailer Hudson's Bay, the parent company of Lord & Taylor, for $2.4 billion.

The retail sector got off to a dismal start last week after Wal-Mart, Macy's and Nordstrom cut their sales outlooks for the year. This week, J.C. Penney, Target, the Gap, Home Depot, Sears and others report quarterly earnings. The retail industry is often closely watched by investors because consumer spending makes up a large chunk of the U.S. economy.

Gap fell 53 cents, or 1.2 percent, to $42.59. Staples lost 43 cents, or 2.55 percent, to $16.41.

One bright spot in Monday's sea of red were technology stocks. Intel was biggest gainer in the 30-member Dow after getting an upgrade from PiperJaffray. The investment bank predicted strong sales for chips used in tablet computers and mobile devices. Intel rose 37 cents, or 1.7 percent, to $22.28.

Other major tech stocks also rose. Apple rose $5.41, or 1.1 percent, to $507.70 and Google rose $8.74, or 1 percent, to $865.60.

Among other stocks making big moves:

”” Zillow said it was buying New York-focused real estate website StreetEasy for $50 million. Zillow dropped $6.48, or 7.1 percent, to $84.74.

”” Dollar General rose $1.62, or 3.1 percent, to $54.09, the biggest gain in the S&P 500. Analysts at JPMorgan Chase upgraded the stock to "overweight" from "neutral" and raised their price target to $64 from $51, citing signs that sales and profit margins were improving.


----------



## bigdog

Source: http://finance.yahoo.com 

etter results from Best Buy and other retailers helped the stock market close mostly higher Tuesday.

Bond yields, which had been rising sharply for the last several days, pulled back, bringing relief to investors worried about higher interest rates.

The Standard & Poor's 500 index ended a four-day losing streak. the Dow Jones industrial average, however, ended with a small loss after being up for most of the day. That extended the Dow's string of losses to five, the longest of the year. The Dow was held back by weakness in Home Depot and Johnson & Johnson.

The mostly higher finish failed to shake the market out of a slump it's been in since early August, when investors became discouraged by poor corporate earnings and a sharp increase in interest rates. The Dow has lost 4 percent since hitting an all-time high on Aug. 2 and is headed for its worst month since May 2012.

The S&P 500 index rose 6.29 points, or 0.4 percent, to 1,652.35 points and the Nasdaq composite rose 24.50 points, or 0.7 percent, to 3,613.59.

The Dow fell 7.75 points, or 0.05 percent, to 15,002.99.

Small-company stocks rose far more than the rest of the market, a sign that investors are more comfortable taking on risk. The Russell 2000 index jumped 15.32 points, or 1.5 percent, to 1,028.57.

Best Buy and Urban Outfitters rose sharply, leading the retail sector higher. 								

 *The NYSE DOW closed  	LOWER ▼	-7.75	points or ▼	-0.05%	on	Tuesday, 20 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15002.99	▼	-7.75	▼	-0.05%		
	Nasdaq___	3613.59	▲	24.5	▲	0.68%		
	S&P_500__	1652.35	▲	6.29	▲	0.38%		
	30_Yr_Bond	3.85	▼	-0.05	▼	-1.26%		

NYSE Volume	 3,293,652,500 	 	 	 	 	  		 
Nasdaq Volume	 1,287,866,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6453.46	▼	-12.27	▼	-0.19%		
	DAX_____	8300.03	▼	-66.26	▼	-0.79%		
	CAC_40__	4028.93	▼	-55.05	▼	-1.35%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5068.8	▼	-33.5	▼	-0.66%		
	Shanghai_Comp	2072.59	▼	-13.01	▼	-0.62%		
	Taiwan_Weight	7832.65	▼	-67.56	▼	-0.86%		
	Nikkei_225____	13396.38	▼	-361.75	▼	-2.63%		
	Hang_Seng____	21970.29	▼	-493.41	▼	-2.20%		
	Strait_Times___	3128.75	▼	-44.58	▼	-1.40%		
	NZX_50_Index__	4508.36	▲	5.13	▲	0.11%		

http://finance.yahoo.com/news/stocks-edge-higher-4-days-155648928.html

*Stocks edge higher after 4 days of declines

Retailers lead US stocks slightly higher after a four-day rout; bond yields edge lower*

By Ken Sweet, AP Markets Writer

Better results from Best Buy and other retailers helped the stock market close mostly higher Tuesday.

Bond yields, which had been rising sharply for the last several days, pulled back, bringing relief to investors worried about higher interest rates.

The Standard & Poor's 500 index ended a four-day losing streak. the Dow Jones industrial average, however, ended with a small loss after being up for most of the day. That extended the Dow's string of losses to five, the longest of the year. The Dow was held back by weakness in Home Depot and Johnson & Johnson.

The mostly higher finish failed to shake the market out of a slump it's been in since early August, when investors became discouraged by poor corporate earnings and a sharp increase in interest rates. The Dow has lost 4 percent since hitting an all-time high on Aug. 2 and is headed for its worst month since May 2012.

The S&P 500 index rose 6.29 points, or 0.4 percent, to 1,652.35 points and the Nasdaq composite rose 24.50 points, or 0.7 percent, to 3,613.59.

The Dow fell 7.75 points, or 0.05 percent, to 15,002.99.

Small-company stocks rose far more than the rest of the market, a sign that investors are more comfortable taking on risk. The Russell 2000 index jumped 15.32 points, or 1.5 percent, to 1,028.57.

Best Buy and Urban Outfitters rose sharply, leading the retail sector higher.

Best Buy jumped $4.07, or 13.2 percent, to $34.80, the biggest gain in the S&P 500. The electronics retailer said it earned 32 cents per share in the last three months, much better than the 12 cents per share financial analysts expected. Most of the growth came from cutting costs and focusing on online sales.

Urban Outfitters jumped $3.27, or 8.2 percent, to $43.19. The Philadelphia-based teen retailer reported a 25 percent surge in second-quarter income as sales rose across nearly all its brands.

The better news from retailers was a respite for investors, who have spent the last week and a half getting disappointing earnings and sales outlooks from some of the nation's largest store chains. Wal-Mart, Macy's, Kohl's and Saks all cut their sales forecasts, raising worries that the American consumer might be cutting back.

"The fact that some of these retailers were giving mixed signals was somewhat disconcerting," said Phil Orlando, chief equity market strategist with Federated Investors.

It wasn't all good news in the retail sector, however. Barnes & Noble plunged 12.4 percent after the bookseller's first-quarter loss more than doubled and the company's chairman called off his offer to buy the company's stores. Excluding one-time items, Barnes & Noble lost 86 cents per share, more than the 81 cents Wall Street analysts had expected. The stock fell $2.06 to $14.61.

In the bond market, the source of a lot of investor worries recently, yields declined modestly after nearly two weeks of increases. The yield on the benchmark U.S. 10-year Treasury note fell to 2.82 percent from 2.88 percent late Monday. It's still up sharply from its low of the year, 1.63 percent, reached in early May.

Bond yields are important because they are used to set interest rates on many kinds of loans, including mortgages. Investors have worried that a sharp rise in borrowing costs could disrupt the recovery in the U.S. economy.

The Federal Reserve has been buying $85 billion worth of bonds every month to keep interest rates low and encourage borrowing and hiring. Now that the economy appears to be on the mend, investors expect the Fed to cut back on its purchases as soon as its September policy meeting.

"We're not talking about the Fed pulling the plug on the economy here," Orlando said. "We're talking about the Fed looking to normalize bond yields because the economy is improving."

In commodities trading, the price of crude oil fell $2.14, or 2 percent, to $104.96 a barrel. Gold rose $6.90, or 0.5 percent, to $1,372.60 an ounce.

The dollar fell slightly against the euro and the Japanese yen.

Among other stocks making big moves:

”” TiVo rose 51 cents, or 5 percent, to $10.99 after the company announced a new line of digital video recorders to give television viewers more control over what they watch.

”” LightInTheBox plunged $7.69, or 40 percent, to $11.58. The newly public, China-based online retailer's sales forecast for the current quarter fell short of Wall Street's expectations. The company's initial public offering of stock in June priced shares at $9.50 each.

”” Medtronic fell $1.27, or 2.3 percent, to $52.83 after the medical device maker's revenue fell shy of what Wall Street analysts were expecting. The stock has surged 29 percent this year and is trading at a five-year high.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks fell sharply Wednesday after the Federal Reserve disclosed that its top officials were mostly in agreement that the central bank should end its massive bond-buying program.

The Dow Jones industrial average fell 105 points. It was the index's sixth straight decline, the longest losing streak since July 2012.

In the minutes from Fed's July policy meeting, board members said it "might soon be time" to slow the purchases. The bond-buying program has been in place in one form or another since late 2008 to keep interest rates low and encourage economic growth.

Traders have been worried about weak earnings and have been looking for clarity on how and when the Fed will wind down its bond purchases. Some investors believe the Fed's bond-buying has inflated stock prices.

Brad McMillan, chief investment officer for Commonwealth Financial, said the market had been overreacting to the possibility that the Fed is going to taper off its bond purchases.

"The market is starting to realize that, yeah, the taper is going to happen and, maybe, it won't be the end of the world," he said.

The Dow fell 105.44 points, or 0.7 percent, to 14,897.55. The Dow has fallen 4.9 percent since hitting a record high on Aug. 2.

The Standard & Poor's 500 index fell 9.55 points, or 0.6 percent, to 1,642.80. The Nasdaq composite lost 13.80 points, or 0.4 percent, to 3,599.79.

Guy Berger, U.S. economist with RBS Securities, said the Fed minutes were mostly in line with what the market had expected.

"The minutes are very consistent with what Fed members have been saying since June," when Fed Chairman Ben Bernanke first laid out the idea of pulling back on bond purchases, Berger said.

The Fed has been purchasing $85 billion in bonds a month since December. Berger expects the Fed may reduce that to $65 billion after the central bank meets in September.

"August's employment report will be very important," he said.

Bond yields have risen dramatically the last few weeks as investors anticipate the end of the Fed's program. 								

 *The NYSE DOW closed  	LOWER ▼	-105.44	points or ▼	-0.70%	on	Wednesday, 21 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14897.55	▼	-105.44	▼	-0.70%		
	Nasdaq___	3599.79	▼	-13.8	▼	-0.38%		
	S&P_500__	1642.8	▼	-9.55	▼	-0.58%		
	30_Yr_Bond	3.88	▲	0.03	▲	0.75%		

NYSE Volume	 3,332,549,000 	 	 	 	 	  		 
Nasdaq Volume	 1,406,457,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6390.84	▼	-62.62	▼	-0.97%		
	DAX_____	8285.41	▼	-14.62	▼	-0.18%		
	CAC_40__	4015.09	▼	-13.84	▼	-0.34%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5090.3	▲	21.5	▲	0.42%		
	Shanghai_Comp	2072.96	▲	0.37	▲	0.02%		
	Taiwan_Weight	7832.65	▲	0	▲	0.00%		
	Nikkei_225____	13424.33	▲	27.95	▲	0.21%		
	Hang_Seng____	21817.73	▼	-152.56	▼	-0.69%		
	Strait_Times___	3108.99	▼	-19.76	▼	-0.63%		
	NZX_50_Index__	4551.51	▲	43.15	▲	0.96%		

http://finance.yahoo.com/news/dow-sinks-sixth-day-traders-203555403.html

*Dow sinks for sixth day as traders ponder Fed exit

Stocks slide as investors wonder when the Federal Reserve will slow its bond purchases*

By Ken Sweet

 Stocks fell sharply Wednesday after the Federal Reserve disclosed that its top officials were mostly in agreement that the central bank should end its massive bond-buying program.

The Dow Jones industrial average fell 105 points. It was the index's sixth straight decline, the longest losing streak since July 2012.

In the minutes from Fed's July policy meeting, board members said it "might soon be time" to slow the purchases. The bond-buying program has been in place in one form or another since late 2008 to keep interest rates low and encourage economic growth.

Traders have been worried about weak earnings and have been looking for clarity on how and when the Fed will wind down its bond purchases. Some investors believe the Fed's bond-buying has inflated stock prices.

Brad McMillan, chief investment officer for Commonwealth Financial, said the market had been overreacting to the possibility that the Fed is going to taper off its bond purchases.

"The market is starting to realize that, yeah, the taper is going to happen and, maybe, it won't be the end of the world," he said.

The Dow fell 105.44 points, or 0.7 percent, to 14,897.55. The Dow has fallen 4.9 percent since hitting a record high on Aug. 2.

The Standard & Poor's 500 index fell 9.55 points, or 0.6 percent, to 1,642.80. The Nasdaq composite lost 13.80 points, or 0.4 percent, to 3,599.79.

Guy Berger, U.S. economist with RBS Securities, said the Fed minutes were mostly in line with what the market had expected.

"The minutes are very consistent with what Fed members have been saying since June," when Fed Chairman Ben Bernanke first laid out the idea of pulling back on bond purchases, Berger said.

The Fed has been purchasing $85 billion in bonds a month since December. Berger expects the Fed may reduce that to $65 billion after the central bank meets in September.

"August's employment report will be very important," he said.

Bond yields have risen dramatically the last few weeks as investors anticipate the end of the Fed's program.

The yield on the benchmark 10-year Treasury note jumped sharply Wednesday, to 2.89 percent from 2.82 percent the day before. The 10-year note is used as a benchmark to determine interest rates on many types of loans, from individual mortgages to borrowing by large corporations.

Retail stocks were once again in focus, and not in a good way. Target, like many other retailers in the last two weeks, issued a muted sales outlook for the rest of the year. The stock dropped $2.45, or 3.6 percent, to $65.50.

Staples sank $2.57, or 15.3 percent, to $14.27 after the office supplies chain reported earnings and sales that missed expectations of financial analysts. The company also slashed its full-year profit forecast.

American Eagle Outfitters plunged $1.62, or 10 percent, to $14.27 after reporting that it had to slash prices because shoppers are reluctant to spend. American Eagle is the latest teen-apparel retailer to report disappointing earnings or cut their outlook, following Urban Outfitters and others.

One bright spot in retail was Home Depot competitor Lowe's, which was up 3.9 percent, making it the second-biggest gainer in the S&P 500. The home-improvement retail chain said it earned 88 cents per share in the period ending Aug. 2, ahead of financial analysts' expectations of 79 cents per share. The company also raised its full-year sales and profit forecasts, citing the improving outlook for the U.S. housing market.

In related news, the National Association of Realtors said Wednesday that sales of previously occupied homes jumped to an annual rate of 5.39 million in July from 5.06 million in June. Home sales are at highest level since November 2009.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market rose Thursday, but it was a glitch on the Nasdaq exchange that became the day's big talking point.

Trading on the Nasdaq was interrupted just after midday because of problems with a quote dissemination system. That halted activity on the Nasdaq until shortly before the close of the market. When trading resumed, shares in Nasdaq OMX, which owns and operates the exchange, slumped.

The Nasdaq composite was up 31 points, or 0.9 percent, at 3,631 when trading halted, according to FactSet data. It ended the day up 38 points, or 1.1 percent, at 3,638.71.

Earlier on Thursday, encouraging economic figures from Asia and Europe helped stocks advance and break a six-day losing streak for the Dow Jones industrial average.

In China, a survey by HSBC indicated that manufacturing was expanding, the latest evidence that the world's second-largest economy may be over its recent period of weakness. In Europe, a survey of manufacturing and services for the 17 countries that use the euro climbed to its highest level since June 2011.

"Europe seems to be getting its swing back, especially Germany," said Doug Cote, chief market strategist at ING U.S. Investment Management. The figures "are not super exciting, but directionally they are good."

The stock market has had a poor August. Traders and investors have fretted that the Federal Reserve is about to start easing back on the economic stimulus that has helped underpin a 4  ½-year bull market. The Fed is buying $85 billion of bonds a month to hold down long-term interest rates.

The Dow climbed 66 points, or 0.4 percent, to close at 14,963.74. The index is still down 3.5 percent for the month.

The Standard & Poor's 500 index rose 14 points, or 0.9 percent, to 1,656.96, its best day since Aug. 1.

Investors also got some encouraging news on the U.S. economy Thursday.

A gauge of the economy's health rose in July, pointing to stronger growth in the second half of the year. The Conference Board's index of leading indicators increased 0.6 percent last month to a reading of 96. The index was unchanged in June and rose 0.2 percent in May.

The number of Americans applying for unemployment benefits rose last week but remains close to its lowest level in 5  ½ years.

Applications for first-time benefits rose 13,000 to 336,000 in the week ending Aug. 17, the Labor Department said. That's up from 323,000 in the previous week, which was the lowest since Jan. 2008. 								

 *The NYSE DOW closed  	HIGHER ▲	66.19	points or ▲	0.44%	on	Thursday, 22 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14963.74	▲	66.19	▲	0.44%		
	Nasdaq___	3638.71	▲	38.92	▲	1.08%		
	S&P_500__	1656.96	▲	14.16	▲	0.86%		
	30_Yr_Bond	3.88	▲	0	▲	0.08%		

NYSE Volume	 2,799,462,250 	 	 	 	 	  		 
Nasdaq Volume	 910,120,060 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6446.87	▲	56.03	▲	0.88%		
	DAX_____	8397.89	▲	112.48	▲	1.36%		
	CAC_40__	4059.12	▲	44.03	▲	1.10%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5066.7	▼	-23.6	▼	-0.46%		
	Shanghai_Comp	2067.12	▼	-5.84	▼	-0.28%		
	Taiwan_Weight	7814.38	▼	-18.27	▼	-0.23%		
	Nikkei_225____	13365.17	▼	-59.16	▼	-0.44%		
	Hang_Seng____	21895.4	▲	77.67	▲	0.36%		
	Strait_Times___	3094.35	▼	-14.64	▼	-0.47%		
	NZX_50_Index__	4529.86	▼	-21.65	▼	-0.48%		

http://finance.yahoo.com/news/nasdaq-trading-halts-stocks-positive-175353017.html

*Nasdaq trading halts; stocks up on positive data

Stocks rise on better outlook for global growth; Nasdaq trading halted due to technical glitch*

By Steve Rothwell, AP Markets Writer

The stock market rose Thursday, but it was a glitch on the Nasdaq exchange that became the day's big talking point.

Trading on the Nasdaq was interrupted just after midday because of problems with a quote dissemination system. That halted activity on the Nasdaq until shortly before the close of the market. When trading resumed, shares in Nasdaq OMX, which owns and operates the exchange, slumped.

The Nasdaq composite was up 31 points, or 0.9 percent, at 3,631 when trading halted, according to FactSet data. It ended the day up 38 points, or 1.1 percent, at 3,638.71.

Earlier on Thursday, encouraging economic figures from Asia and Europe helped stocks advance and break a six-day losing streak for the Dow Jones industrial average.

In China, a survey by HSBC indicated that manufacturing was expanding, the latest evidence that the world's second-largest economy may be over its recent period of weakness. In Europe, a survey of manufacturing and services for the 17 countries that use the euro climbed to its highest level since June 2011.

"Europe seems to be getting its swing back, especially Germany," said Doug Cote, chief market strategist at ING U.S. Investment Management. The figures "are not super exciting, but directionally they are good."

The stock market has had a poor August. Traders and investors have fretted that the Federal Reserve is about to start easing back on the economic stimulus that has helped underpin a 4  ½-year bull market. The Fed is buying $85 billion of bonds a month to hold down long-term interest rates.

The Dow climbed 66 points, or 0.4 percent, to close at 14,963.74. The index is still down 3.5 percent for the month.

The Standard & Poor's 500 index rose 14 points, or 0.9 percent, to 1,656.96, its best day since Aug. 1.

Investors also got some encouraging news on the U.S. economy Thursday.

A gauge of the economy's health rose in July, pointing to stronger growth in the second half of the year. The Conference Board's index of leading indicators increased 0.6 percent last month to a reading of 96. The index was unchanged in June and rose 0.2 percent in May.

The number of Americans applying for unemployment benefits rose last week but remains close to its lowest level in 5  ½ years.

Applications for first-time benefits rose 13,000 to 336,000 in the week ending Aug. 17, the Labor Department said. That's up from 323,000 in the previous week, which was the lowest since Jan. 2008.

"The economy in general is showing signs of modest improvement," said Terry Sandven, chief equity strategist, at U.S. Bank wealth management. "Valuation is fair, sentiment is favorable and inflation is benign and that's a favorable backdrop for equities."

The market rose despite some poor results from a pair of retailing companies.

Sears dropped $3.55, or 8.2 percent, to $39.72 after the company said its second-quarter loss widened as the number of stores in operation declined and the company dealt with lingering effects from its spinoff of the Hometown and Outlet brand.

Abercrombie & Fitch fell $8.27, or 18 percent, to $38.53 after the company said that declining traffic and weakness in girls' clothing pushed its net income down 33 percent in the second quarter.

The yield on the 10-year Treasury note rose to 2.90 percent from 2.89 percent Wednesday. The yield is the highest it's been since July 2011, and is up sharply since going as low as 1.63 percent in early May.

Rising bond yields have unsettled stock investors because they have a direct impact on the cost of borrowing for everyone, from home owners trying to refinance their mortgages to companies trying to sell debt, making them a potential long-term drag on the economy.

Average U.S. rates for fixed mortgages rose this week to their highest levels in two years, mortgage buyer Freddie Mac said Thursday. The average rate on the 30-year loan jumped to 4.58 percent, up from 4.40 percent last week.

The dollar was little changed against the euro and rose against the Japanese yen.

Among other stocks making big moves:

”” Nasdaq OMX fell $1.08, or 3.4 percent, to $30.46 after Thursday's trading glitch.

”” Hewlett-Packard fell $3.16, or 13 percent, to $22.22 after the company reported weak demand for personal computers and falling revenue late Wednesday. The company's earnings were below Wall Street's expectations.

””Dollar Tree rose $1.29 cents, or 2.5 percent, to $53.13 after the company reported earnings that surpassed the expectations of Wall Street analysts. The company also raised the lower end of its full-year earnings forecast.


----------



## bigdog

Source: http://finance.yahoo.com 

A big jump in Microsoft helped lift the Dow Jones industrial average Friday.

Microsoft had its biggest gain in four years after CEO Steve Ballmer said he will retire. Ballmer took the helm of the software company from founder Bill Gates in 2000. The company has struggled to adapt as consumers switch from desktop computing to mobile devices

The giant software company is part of the 30-member Dow and its surge contributed more than a third of the index's advance.

The Dow closed up 46.77 points, or 0.3 percent, at 15,010.51. The index closed down 0.5 percent for the week and is 3.2 percent lower for the month.

Stocks have sagged in August on concerns that the Federal Reserve will start to pull back on its economic stimulus. The Fed has been buying $85 billion in bonds every month to hold down long-term interest rates and encourage lending.

Minutes from the Fed's July meeting released on Wednesday failed to give investors any clear indication of when the central bank will start slowing its bond purchases.

Some investors are using the summer slump as an opportunity to buy stocks at less expensive prices, said Joe Bell, a senior equity analyst at Schaeffer's Investment Research. Stocks climbed to record highs at the start of the month.

Stocks are "getting more attention in the mainstream," said Bell. "People are buying this pullback right now."

The stock market stumbled at mid-morning after the government reported a plunge in new home sales, then drifted steadily higher in the afternoon. Trading volume was very light. 

The stock market may become more volatile in the coming weeks as traders try to anticipate the timing of the Fed's move, said Randy Frederick, managing director of active trading and derivatives at the Schwab Center for Financial Research.

Investors will also start to follow the debt ceiling debate in Washington more closely, he said. The U.S. stock market plunged in the summer of 2011 when policy makers wrangled over lifting the borrowing limit and pushed the country closer to default. 

The Standard and Poor's 500 index edged up 6.54 points, or 0.4 percent, to 1,663.50.

The Nasdaq composite rose 19.09 points, or 0.5 percent, to 3,657.79. The Nasdaq exchange was closed for most of the afternoon Thursday due to a technical glitch.

The S&P 500 has fallen almost 3 percent from its record close of 1,709 on Aug. 2, but is still up 16 percent for the year. The Dow fell for six straight days through Wednesday, its longest losing streak of 2013. It's still up 15 percent for the year. 								

 *The NYSE DOW closed  	HIGHER ▲	46.77	points or ▲	0.31%	on	Friday, 23 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15010.51	▲	46.77	▲	0.31%		
	Nasdaq___	3657.79	▲	19.08	▲	0.52%		
	S&P_500__	1663.5	▲	6.54	▲	0.39%		
	30_Yr_Bond	3.8	▼	-0.09	▼	-2.24%		

NYSE Volume	 2,825,034,000 	 	 	 	 	  		 
Nasdaq Volume	 1,478,627,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6492.1	▲	45.23	▲	0.70%		
	DAX_____	8416.99	▲	19.1	▲	0.23%		
	CAC_40__	4069.47	▲	10.35	▲	0.25%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5115.2	▲	48.5	▲	0.96%		
	Shanghai_Comp	2057.46	▼	-9.67	▼	-0.47%		
	Taiwan_Weight	7873.31	▲	58.93	▲	0.75%		
	Nikkei_225____	13660.55	▲	295.38	▲	2.21%		
	Hang_Seng____	21863.51	▼	-31.89	▼	-0.15%		
	Strait_Times___	3088.85	▼	-0.55	▼	-0.02%		
	NZX_50_Index__	4524.21	▼	-5.65	▼	-0.12%		

http://finance.yahoo.com/news/stock-market-closes-higher-microsoft-205745168.html

*Stock market closes higher; Microsoft surges

Stocks end higher on Wall Street; Microsoft surges after CEO says he plans to retire*

By Steve Rothwell, AP Markets Writer 

 A big jump in Microsoft helped lift the Dow Jones industrial average Friday.

Microsoft had its biggest gain in four years after CEO Steve Ballmer said he will retire. Ballmer took the helm of the software company from founder Bill Gates in 2000. The company has struggled to adapt as consumers switch from desktop computing to mobile devices

The giant software company is part of the 30-member Dow and its surge contributed more than a third of the index's advance.

The Dow closed up 46.77 points, or 0.3 percent, at 15,010.51. The index closed down 0.5 percent for the week and is 3.2 percent lower for the month.

Stocks have sagged in August on concerns that the Federal Reserve will start to pull back on its economic stimulus. The Fed has been buying $85 billion in bonds every month to hold down long-term interest rates and encourage lending.

Minutes from the Fed's July meeting released on Wednesday failed to give investors any clear indication of when the central bank will start slowing its bond purchases.

Some investors are using the summer slump as an opportunity to buy stocks at less expensive prices, said Joe Bell, a senior equity analyst at Schaeffer's Investment Research. Stocks climbed to record highs at the start of the month.

Stocks are "getting more attention in the mainstream," said Bell. "People are buying this pullback right now."

The stock market stumbled at mid-morning after the government reported a plunge in new home sales, then drifted steadily higher in the afternoon. Trading volume was very light.

Major homebuilders fell after the Commerce Department said Americans cut back sharply on buying homes last month as mortgage rates rose. Sales of newly built homes fell at an annual rate of 13.4 percent in July. D.R. Horton lost 55 cents, or 3 percent, to $18.73 and Lennar fell 96 cents, also 3 percent, to $32.60.

A boom in housing has supported this year's rally in stocks. Now, the drop in sales has traders worried that the U.S. housing recovery could falter because of higher mortgage rates.

Traders reacted to the drop in home sales by buying bonds and gold, investments that become more attractive when the economy appears weaker.

The yield on the 10-year Treasury note declined to 2.82 percent from 2.89 percent late Thursday. The price of gold rose $25, or 1.8 percent, to $1,395 an ounce, the highest in two months.

The stock market may become more volatile in the coming weeks as traders try to anticipate the timing of the Fed's move, said Randy Frederick, managing director of active trading and derivatives at the Schwab Center for Financial Research.

Investors will also start to follow the debt ceiling debate in Washington more closely, he said. The U.S. stock market plunged in the summer of 2011 when policy makers wrangled over lifting the borrowing limit and pushed the country closer to default.

"The softening we are seeing in the market, and the rise in interest rates, these are all in anticipation of these issues," Frederick said. "Overall, I like the outlook for the rest of the year, I just don't like the next four to six weeks."

The Standard and Poor's 500 index edged up 6.54 points, or 0.4 percent, to 1,663.50.

The Nasdaq composite rose 19.09 points, or 0.5 percent, to 3,657.79. The Nasdaq exchange was closed for most of the afternoon Thursday due to a technical glitch.

The S&P 500 has fallen almost 3 percent from its record close of 1,709 on Aug. 2, but is still up 16 percent for the year. The Dow fell for six straight days through Wednesday, its longest losing streak of 2013. It's still up 15 percent for the year.

Among other stocks making big moves:

”” Microsoft rose $2.36, or 7.3 percent, to $34.75 after Ballmer's retirement was announced.

”” Pandora Media, the online music streaming company, slid $2.80, or 13 percent, to $18.91 after the company issued a disappointing profit outlook for the current quarter.

”” Aeropostale slid $2.22, or 20 percent, to $8.76 after the teen retailer reported dismal quarterly results and issued a weak profit forecast. Several other teen retailers including Abercrombie & Fitch and American Eagle Outfitters have also reported poor customer traffic and slumping sales.

9333


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market sagged Monday after the Obama administration ratcheted up pressure against Syria.

Secretary of State John Kerry said there was "undeniable" evidence of a large-scale chemical weapons attack in Syria last week, and his remarks suggested that the administration was edging closer to a military response.

Major indexes had been holding onto slight gains on Monday until the last hour of trading. That's when Kerry's televised talk appeared to jolt it lower, said Stephen J. Carl, head equity trader at the Williams Capital Group.

The S&P 500 index ended with a loss of 6.72 points, or 0.4 percent, at 1,656.78. The index was up two points just before Kerry began reading his statement.

The Dow Jones industrial average fell 64.05 points, or 0.4 percent, to close at 14,946.46. The Nasdaq composite slipped 0.22 of a point, or 0.01 percent, to 3,657.57.

A handful of corporate deals gave the market a lift in the early going. Amgen surged following its announcement late Sunday that the biotech giant plans to buy Onyx Pharmaceuticals for $10.4 billion. The acquisition would give Amgen three approved cancer treatments and several other potential drugs.

In economic news, the government reported that orders for long-lasting manufactured goods plunged 7.3 percent last month, the steepest drop in nearly a year. Demand for commercial aircraft sank and businesses spent less on computers and electrical equipment.

Jack Ablin, the chief investment officer at BMO Private Bank in Chicago, said it's likely that investors are looking past the one bad economic report because so many major events loom ahead.

The Federal Reserve will start a two-day meeting Sept. 17, during which officials will discuss phasing out support for the economy. After that, Germany holds national elections that could change how the region handles rescue loans for troubled countries. The U.S. Congress returns from its summer break next week and will take up a new budget before the fiscal year starts on Oct. 1.

"These issues are big enough to transcend daily data," Ablin said.

The market is expected stay quiet this week, when many traders typically take a summer break before returning after Labor Day. 								

 *The NYSE DOW closed  	LOWER ▼	-64.05	points or ▼	-0.43%	on	Monday, 26 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14946.46	▼	-64.05	▼	-0.43%		
	Nasdaq___	3657.57	▼	-0.22	▼	-0.01%		
	S&P_500__	1656.78	▼	-6.72	▼	-0.40%		
	30_Yr_Bond	3.78	▼	-0.01	▼	-0.37%		

NYSE Volume	 2,685,732,250 	 	 	 	 	  		 
Nasdaq Volume	 1,375,222,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6492.1	▲	45.23	▲	0.70%		
	DAX_____	8435.15	▲	18.16	▲	0.22%		
	CAC_40__	4067.13	▼	-2.34	▼	-0.06%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5127.1	▲	11.9	▲	0.23%		
	Shanghai_Comp	2096.47	▲	39.02	▲	1.90%		
	Taiwan_Weight	7894.97	▲	21.66	▲	0.28%		
	Nikkei_225____	13636.28	▼	-24.27	▼	-0.18%		
	Hang_Seng____	22005.32	▲	141.81	▲	0.65%		
	Strait_Times___	3084.41	▼	-4.44	▼	-0.14%		
	NZX_50_Index__	4545.67	▲	21.46	▲	0.47%		

http://finance.yahoo.com/news/stock-market-sags-following-kerry-205904168.html

*Stock market sags following Kerry remarks

After rising for most of day, stock market ends lower after Kerry denounces Syria*

By Matthew Craft, AP Business Writer

The stock market sagged Monday after the Obama administration ratcheted up pressure against Syria.

Secretary of State John Kerry said there was "undeniable" evidence of a large-scale chemical weapons attack in Syria last week, and his remarks suggested that the administration was edging closer to a military response.

Major indexes had been holding onto slight gains on Monday until the last hour of trading. That's when Kerry's televised talk appeared to jolt it lower, said Stephen J. Carl, head equity trader at the Williams Capital Group.

The S&P 500 index ended with a loss of 6.72 points, or 0.4 percent, at 1,656.78. The index was up two points just before Kerry began reading his statement.

The Dow Jones industrial average fell 64.05 points, or 0.4 percent, to close at 14,946.46. The Nasdaq composite slipped 0.22 of a point, or 0.01 percent, to 3,657.57.

A handful of corporate deals gave the market a lift in the early going. Amgen surged following its announcement late Sunday that the biotech giant plans to buy Onyx Pharmaceuticals for $10.4 billion. The acquisition would give Amgen three approved cancer treatments and several other potential drugs.

In economic news, the government reported that orders for long-lasting manufactured goods plunged 7.3 percent last month, the steepest drop in nearly a year. Demand for commercial aircraft sank and businesses spent less on computers and electrical equipment.

Jack Ablin, the chief investment officer at BMO Private Bank in Chicago, said it's likely that investors are looking past the one bad economic report because so many major events loom ahead.

The Federal Reserve will start a two-day meeting Sept. 17, during which officials will discuss phasing out support for the economy. After that, Germany holds national elections that could change how the region handles rescue loans for troubled countries. The U.S. Congress returns from its summer break next week and will take up a new budget before the fiscal year starts on Oct. 1.

"These issues are big enough to transcend daily data," Ablin said.

The market is expected stay quiet this week, when many traders typically take a summer break before returning after Labor Day.

In corporate news, shares of TMS International jumped 12 percent after members of the Pritzker family agreed to buy the industrial company. The Pritzker family, one of America's wealthiest, operates a global industrial conglomerate and founded the Hyatt hotel chain. TMS jumped $1.91 to $17.48.

With five trading days left in August, the major indexes are on track to end the month with slight losses. The Dow has lost 3.6 percent. If that holds, it would be the Dow's worst month since May 2012.

In the market for U.S. government bonds, the yield on the 10-year note slipped to 2.78 percent from 2.82 percent late Friday.

The price of oil fell 50 cents to $105.92 a barrel. Gold for December delivery ended the regular trading day down $2.70 at $1,393.10 an ounce. But in evening trading, gold prices crossed above $1,400 for the first time since June.

Among stocks making big moves:

”” Anadarko Petroleum climbed $1.22, or 1 percent, to $91.02. The oil and gas producer said late Sunday that it's selling part of its stake in a natural-gas site off the shores of Mozambique for $2.64 billion.

”” Amgen gained $8.15, or 8 percent, to $113.75 after earlier hitting an all-time high of $116.25. Onyx, the drugmaker it plans to acquire for $125 a share, rose $6.53, or 6 percent, to $123.49.

”” Tesla, the electric-car maker, climbed $2.38, or 1 percent, to $164.22, following reports that Tesla's Model S outsold Cadillac, Porsche, Jaguar and other brands in California in June.


----------



## bigdog

Source: http://finance.yahoo.com 

Fears of an escalating conflict in Syria rippled across financial markets on Tuesday, sinking stocks, lifting gold and pushing the price of oil to the highest in a year and a half.

The increasing possibility of U.S. military strikes raised worries on Wall Street that energy trade in the region could be disrupted, raising fuel costs for consumers and business.

"If Syria becomes drawn out and becomes a long-term issue, it's going to show up in things like gas prices," said Chris Costanzo, investment officer with Tanglewood Wealth Management.

The Dow Jones industrial average fell 170.33 points, or 1.1 percent, to 14,776.13, the lowest in two months.

The Standard & Poor's 500 index lost 26.30 points, or 1.6 percent, to 1,630.48 and the Nasdaq composite fell 79.05 points, or 2.2 percent, to 3,578.52.

"The law of unintended consequences and the history of previous military interventions in the region is not a recipe for political and economic stability," said Neil MacKinnon, global macro strategist at VTB Capital.

The sell-off in U.S. stocks was broad. All 10 industry sectors in the S&P 500 index were in the red, and only 31 of the index's 500 stocks rose. Utilities and other high dividend-paying stocks mostly escaped the selling.

The impact wasn't just in stocks. Gold prices advanced and government bond prices jumped because traders see those investments holding their value better in times of uncertainty. Gold rose $27, or 2 percent, to $1,420 an ounce while the yield on the benchmark U.S. 10-year Treasury note fell to 2.71 percent from 2.79 percent.

While Syria itself has little oil, traders feared an intervention in Syria could cause further instability in the Middle East and possibly disrupt the flow of oil from the region. Oil surged $3.09, or 2.9 percent, to close at $109.01 a barrel, the highest closing price since February 2012.

"People worry about this becoming a worst-case scenario and turning into a regional conflict," said Bill Stone, chief investment strategist at PNC Asset Management.								

 *The NYSE DOW closed  	LOWER ▼	-170.33	points or ▼	-1.14%	on	Tuesday, 27 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14776.13	▼	-170.33	▼	-1.14%		
	Nasdaq___	3578.52	▼	-79.05	▼	-2.16%		
	S&P_500__	1630.48	▼	-26.3	▼	-1.59%		
	30_Yr_Bond	3.7	▼	-0.08	▼	-2.14%		

NYSE Volume	 3,630,377,500 	 	 	 	 	  		 
Nasdaq Volume	 1,597,738,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6440.97	▼	-51.13	▼	-0.79%		
	DAX_____	8242.56	▼	-192.59	▼	-2.28%		
	CAC_40__	3968.73	▼	-98.4	▼	-2.42%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5130.8	▲	3.7	▲	0.07%		
	Shanghai_Comp	2103.57	▲	7.09	▲	0.34%		
	Taiwan_Weight	7820.84	▼	-74.13	▼	-0.94%		
	Nikkei_225____	13542.37	▼	-93.91	▼	-0.69%		
	Hang_Seng____	21874.77	▼	-130.55	▼	-0.59%		
	Strait_Times___	3034.02	▼	-50.39	▼	-1.63%		
	NZX_50_Index__	4542.02	▼	-3.64	▼	-0.08%		

http://www.latimes.com/business/la-fiw-wall-street-20130827,0,3742414.story

*Stocks slide, oil up as Syria tensions escalate *
Associated Press August 27, 2013

Fears of an escalating conflict in Syria rippled across financial markets on Tuesday, sinking stocks, lifting gold and pushing the price of oil to the highest in a year and a half.

The increasing possibility of U.S. military strikes raised worries on Wall Street that energy trade in the region could be disrupted, raising fuel costs for consumers and business.

"If Syria becomes drawn out and becomes a long-term issue, it's going to show up in things like gas prices," said Chris Costanzo, investment officer with Tanglewood Wealth Management.

The Dow Jones industrial average fell 170.33 points, or 1.1 percent, to 14,776.13, the lowest in two months.

The Standard & Poor's 500 index lost 26.30 points, or 1.6 percent, to 1,630.48 and the Nasdaq composite fell 79.05 points, or 2.2 percent, to 3,578.52.

"The law of unintended consequences and the history of previous military interventions in the region is not a recipe for political and economic stability," said Neil MacKinnon, global macro strategist at VTB Capital.

The sell-off in U.S. stocks was broad. All 10 industry sectors in the S&P 500 index were in the red, and only 31 of the index's 500 stocks rose. Utilities and other high dividend-paying stocks mostly escaped the selling.

The impact wasn't just in stocks. Gold prices advanced and government bond prices jumped because traders see those investments holding their value better in times of uncertainty. Gold rose $27, or 2 percent, to $1,420 an ounce while the yield on the benchmark U.S. 10-year Treasury note fell to 2.71 percent from 2.79 percent.

While Syria itself has little oil, traders feared an intervention in Syria could cause further instability in the Middle East and possibly disrupt the flow of oil from the region. Oil surged $3.09, or 2.9 percent, to close at $109.01 a barrel, the highest closing price since February 2012.

"People worry about this becoming a worst-case scenario and turning into a regional conflict," said Bill Stone, chief investment strategist at PNC Asset Management.

Energy prices dragged down the airline industry on concerns that higher oil prices could lead to higher fuel costs. United Continental Holdings, the world's largest airline by revenue, dropped $2.15, or 7.2 percent, to $27.71 and Delta Air Lines lost $1.16, or 5.7 percent, to $19.11.

Stone said oil prices could start weighing on consumer spending down the road, but it is still too early to gauge the longer-term impact.

The average price for a gallon of gasoline remained unchanged in the U.S. at $3.54 a gallon. Prices have held steady over the past week, and are down 9 cents from a month ago.

In corporate news, discount shoe seller DSW jumped $6.43, or 7.9 percent, to $87.75 after the company reported an adjusted profit of 97 cents per share, easily beating analysts' estimate of 80 cents per share, according to FactSet.

J.C. Penney fell 18 cents, or 1.3 percent, to $13.17 after the company's biggest investor, Bill Ackman, said he plans to sell his entire stake in the discount department store chain.

The tensions with Syria overshadowed two positive reports on the economy.

The Conference Board said its consumer confidence index rose to 81.5 in August, up from 80.3 the month before. Economists had expected 79, according to FactSet.

The Standard & Poor's/Case-Shiller 20-city home price index rose 12.1 percent in June from a year earlier, nearly matching a seven-year high. But month-over-month price gains slowed in most markets, a sign that higher mortgage rates may be weighing on the housing recovery.


----------



## bigdog

Source: http://finance.yahoo.com 

Wall Street's big investors are in wait-and-see mode.

There's been plenty to give them pause this week: the stock market is down and oil is surging as the Syrian civil war escalates. Then there's the lingering worry that the Federal Reserve will end its stimulus too soon.

The next few weeks promise more big headlines. The government releases its August jobs report and Washington ramps up for a debate on the debt ceiling. Syria is just the latest ingredient in an already volatile mix.

"There have been problems developing in the market for a while now," said Tobias Levkovich, Citigroup's chief U.S. equity strategist.

The Dow Jones industrial average edged up 48.38 points, or 0.3 percent, to close at 14,824.51 on Wednesday. The Standard & Poor's 500 index gained 4.48 points, or 0.3 percent, to 1,634.96. The Nasdaq composite rose 14.83 points, or 0.4 percent, to 3,593.35.

While the selling in stocks appears to have abated for the moment, the trend for the market has been down. The S&P 500 has lost 4.4 percent since reaching an all-time high on Aug. 2, while the Dow is down 5.3 percent.

With all that uncertainty, there are signs that Wall Street's more active players ”” hedge funds, pension funds and mutual funds ”” are heading to the sidelines.

Last week, investors pulled $10.3 billion out of the S&P 500 SPDR, an exchange-traded fund that is one of the most widely held investments on Wall Street, according to fund tracker Lipper. In the same week, institutional and retail investors socked away a combined $10.7 billion in money market funds, the traditional storehouse for cash when investors aren't willing to risk it elsewhere.

Nearly 6 percent of large institutional investors' portfolios are sitting in cash, the highest since 2009, according to research from Citigroup.

Gold has also seen a rebound in interest. Last week, the most widely held gold exchange-traded fund, the SPDR Gold Trust, saw investor inflows for the first time since February.

"The mentality among large investors is that there is a high potential to get caught," on the wrong side of the market, said Chris Hyzy, chief investment officer at U.S. Trust.

Growing geopolitical risk like in Syria is almost always damaging to investor confidence. Investors worry that a U.S.-led attack against Syria could draw the country into Syria's civil war, or worse, fan a larger conflict in the region.

The next big piece of data investors will have to work through comes next week, when Wall Street gets the August jobs report. However, the report is likely to be overshadowed by continued speculation about the future of the Fed's bond-buying program.

"The market is acting a lot like a patient sitting in a waiting room reading a magazine," Hyzy said. "We don't know how good or bad it is, all we know is that the prognosis will come over the next couple days and weeks."

The Fed has been buying $85 billion in bonds a month since December in a move to keep interest rates low and the economy growing. It is widely expected that the Fed will announce a reduction in bond-buying at its next policy meeting, scheduled for Sept. 17-18.

But Syria ”” and the risk of Middle East conflict ”” has raised a new concern for the economy: higher oil prices. Crude oil is up nearly 5 percent this month, most of it coming in the last few days. Oil rose $1.09 to $110.10 a barrel on Wednesday. Costlier oil almost always translates into higher fuel expenses for businesses and consumers, weighing on consumer spending and the economy.

"When you add it all up ”” the problems in Libya, Egypt, Syria ”” you're looking at three million barrels a day in potential production outages," said Nick Koutsoftas, a commodities-focused portfolio manager at Cohen & Steers.

Market observers emphasized that for long-term buy-and-hold investors ”” the average American with a 401(k) ”” it's best not follow professional investors to the sidelines. Lower stock prices could lead to buying opportunities.

"If you're looking out three years, there are a lot of positive things going on," Hyzy said, noting that the economy is slowly recovering, and the U.S. is moving toward energy independence and a revival of manufacturing ”” both of which could create jobs.

"I would buy, if you have a three-year investing horizon," he said.

Lawrence Creatura, a portfolio manager with Federated Investors, said the stock market pullback in August has created opportunities to start picking individual stocks again. 								

 *The NYSE DOW closed  	HIGHER ▲	48.38	points or ▲	0.33%	on	Wednesday, 28 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14824.51	▲	48.38	▲	0.33%		
	Nasdaq___	3593.35	▲	14.83	▲	0.41%		
	S&P_500__	1634.96	▲	4.48	▲	0.27%		
	30_Yr_Bond	3.75	▲	0.05	▲	1.38%		

NYSE Volume	 3,116,616,750 	 	 	 	 	  		 
Nasdaq Volume	 1,348,685,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6430.06	▼	-10.91	▼	-0.17%		
	DAX_____	8157.9	▼	-84.66	▼	-1.03%		
	CAC_40__	3960.46	▼	-8.27	▼	-0.21%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5078	▼	-52.8	▼	-1.03%		
	Shanghai_Comp	2101.3	▼	-2.27	▼	-0.11%		
	Taiwan_Weight	7824.54	▲	3.7	▲	0.05%		
	Nikkei_225____	13338.46	▼	-203.91	▼	-1.51%		
	Hang_Seng____	21524.65	▼	-350.12	▼	-1.60%		
	Strait_Times___	3010.46	▼	-23.56	▼	-0.78%		
	NZX_50_Index__	4509.72	▼	-32.31	▼	-0.71%		

http://finance.yahoo.com/news/big-investors-pause-amid-tough-221331449.html

*Big investors pause amid tough August

Wall Street's big investors in wait-and-see mode as they assess risks from Syria, oil and Fed*

By Ken Sweet, AP Markets Writer

Wall Street's big investors are in wait-and-see mode.

There's been plenty to give them pause this week: the stock market is down and oil is surging as the Syrian civil war escalates. Then there's the lingering worry that the Federal Reserve will end its stimulus too soon.

The next few weeks promise more big headlines. The government releases its August jobs report and Washington ramps up for a debate on the debt ceiling. Syria is just the latest ingredient in an already volatile mix.

"There have been problems developing in the market for a while now," said Tobias Levkovich, Citigroup's chief U.S. equity strategist.

The Dow Jones industrial average edged up 48.38 points, or 0.3 percent, to close at 14,824.51 on Wednesday. The Standard & Poor's 500 index gained 4.48 points, or 0.3 percent, to 1,634.96. The Nasdaq composite rose 14.83 points, or 0.4 percent, to 3,593.35.

While the selling in stocks appears to have abated for the moment, the trend for the market has been down. The S&P 500 has lost 4.4 percent since reaching an all-time high on Aug. 2, while the Dow is down 5.3 percent.

With all that uncertainty, there are signs that Wall Street's more active players ”” hedge funds, pension funds and mutual funds ”” are heading to the sidelines.

Last week, investors pulled $10.3 billion out of the S&P 500 SPDR, an exchange-traded fund that is one of the most widely held investments on Wall Street, according to fund tracker Lipper. In the same week, institutional and retail investors socked away a combined $10.7 billion in money market funds, the traditional storehouse for cash when investors aren't willing to risk it elsewhere.

Nearly 6 percent of large institutional investors' portfolios are sitting in cash, the highest since 2009, according to research from Citigroup.

Gold has also seen a rebound in interest. Last week, the most widely held gold exchange-traded fund, the SPDR Gold Trust, saw investor inflows for the first time since February.

"The mentality among large investors is that there is a high potential to get caught," on the wrong side of the market, said Chris Hyzy, chief investment officer at U.S. Trust.

Growing geopolitical risk like in Syria is almost always damaging to investor confidence. Investors worry that a U.S.-led attack against Syria could draw the country into Syria's civil war, or worse, fan a larger conflict in the region.

The next big piece of data investors will have to work through comes next week, when Wall Street gets the August jobs report. However, the report is likely to be overshadowed by continued speculation about the future of the Fed's bond-buying program.

"The market is acting a lot like a patient sitting in a waiting room reading a magazine," Hyzy said. "We don't know how good or bad it is, all we know is that the prognosis will come over the next couple days and weeks."

The Fed has been buying $85 billion in bonds a month since December in a move to keep interest rates low and the economy growing. It is widely expected that the Fed will announce a reduction in bond-buying at its next policy meeting, scheduled for Sept. 17-18.

But Syria ”” and the risk of Middle East conflict ”” has raised a new concern for the economy: higher oil prices. Crude oil is up nearly 5 percent this month, most of it coming in the last few days. Oil rose $1.09 to $110.10 a barrel on Wednesday. Costlier oil almost always translates into higher fuel expenses for businesses and consumers, weighing on consumer spending and the economy.

"When you add it all up ”” the problems in Libya, Egypt, Syria ”” you're looking at three million barrels a day in potential production outages," said Nick Koutsoftas, a commodities-focused portfolio manager at Cohen & Steers.

Market observers emphasized that for long-term buy-and-hold investors ”” the average American with a 401(k) ”” it's best not follow professional investors to the sidelines. Lower stock prices could lead to buying opportunities.

"If you're looking out three years, there are a lot of positive things going on," Hyzy said, noting that the economy is slowly recovering, and the U.S. is moving toward energy independence and a revival of manufacturing ”” both of which could create jobs.

"I would buy, if you have a three-year investing horizon," he said.

Lawrence Creatura, a portfolio manager with Federated Investors, said the stock market pullback in August has created opportunities to start picking individual stocks again.

Creatura pointed to the retail industry ”” which has been hit hard by lower profit forecasts and the rise in oil prices ”” as an opportunity.

"Lower prices make some stocks more attractive," Creatura said. "Our analysts are extremely busy."


http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3
The stock market edged higher Wednesday as investors continued to focus on the likelihood of a U.S.-led attack on Syria. Energy stocks rose sharply as the price of oil increased to the highest in more than two years.

The Dow Jones industrial average rose 48.38 points, or 0.3 percent, to close at 14,824.51. The Standard & Poor's 500 index gained 4.48 points, or 0.3 percent, to 1,634.96. The Nasdaq composite rose 14.83 points, or 0.4 percent, to 3,593.35.

The quick rise in the price of oil has caused investors to worry. Costlier oil almost always translates into higher fuel expenses for businesses and consumers, weighing on consumer spending and the economy. While Syria produces little oil, a regional conflict in the Middle East could lead to supply disruptions in an area where half the world's proven oil reserves lie.

"When you add it all up -- the problems in Libya, Egypt, Syria -- you're looking at 3 million barrels a day in potential production outages," said Nick Koutsoftas, a commodities-focused portfolio manager at Cohen & Steers.

Oil rose $1.09, or 1 percent, to $110.10 a barrel, the highest price since May 2011. It went as high as $112 a barrel overnight.

Energy companies were the biggest gainers in the S&P 500. Marathon Oil rose $1.22, or 4 percent, to $34.60 and Dow component Chevron climbed $3, or 3 percent, to $121.81.

While the selling in stocks appears to have abated for now, the overall trend for the market has been down over the last couple of weeks. The S&P 500 has lost 4.4 percent since reaching an all-time high on Aug. 2, while the Dow is down 5.3 percent. Fund managers said investors will have little reason to enter the market until next week's employment report or until the Federal Reserve holds its mid-September policy meeting.

"You may be watching stock prices, but you're not placing any orders in this market," said Chris Hyzy, chief investment officer at U.S. Trust.

Before Syria grabbed the headlines, the focus had been on the Federal Reserve and whether the central bank was going to pull back on its massive bond-buying program, which has kept interest rates extremely low.

If oil prices remain at these elevated levels, the Fed may have to delay easing back on its bond purchases, said Quincy Krosby, market strategist with Prudential Financial.

"The Fed would see higher oil prices, particularly if they linger at these higher levels, as a definite hindrance to employment and consumer spending," Krosby said.

Hyzy said oil would have to rise above $125 a barrel before it has a noticeable impact on consumer spending. Cohen & Steers' Koutsoftas said he believes the U.S. consumer has gotten used to higher fuel costs, and oil would have to go to $150 a barrel before it might impact consumer behavior.

The Syria standoff comes during what is typically a quiet week for stocks. There is little economic data being released and only a handful of corporate earnings. It's also the week before Labor Day, when many on Wall Street are on vacation. Volume on the New York Stock Exchange on Monday was the lowest of any full day of trading this year.

The next big day for the market will come next week, when investors get the August jobs report on Sept. 6, Hyzy and Krosby said.

In corporate news:

”” Zales soared $2.67, or 30 percent, to $11.63 after the jewelry store chain reported full-year income of 24 cents per share, well ahead of the 17 cents per share analysts expected.

”” Avago, an electronics maker, rose $1.73, or 5 percent, to $38.28. The company earned 74 cents a share in its latest quarter, beating the 68 cents expected by financial analysts.


----------



## bigdog

Source: http://finance.yahoo.com 

 Positive news on the U.S. economy outweighed worries about Syria Thursday, sending the stock market higher for a second straight day.

The Dow Jones industrial average added 16.44 points, or 0.1 percent, to 14,840.95, while the Standard & Poor's 500 index rose 3.2 points, or 0.2 percent, to 1,638.17. The Nasdaq composite posted a bigger gain, rising 27 points, or 0.8 percent, to 3,620.30.

The Dow has gained 64 points over the past two days, not nearly enough to make up for its 170-point loss Tuesday as tensions over Syria rattled markets.

Verizon Communications was the biggest gainer among the blue chips after Britain's Vodafone confirmed it was in talks with Verizon to sell its 45 percent stake their joint venture, Verizon Wireless.

Verizon rose $1.26, or 2.7 percent, to $47.82. The U.S.-listed shares of Vodafone rose $2.39, or 8.1 percent, to $31.80.

While many fund managers said they're not looking to jump back into the market just yet, some individual companies are looking attractive again.

"If you're a long-term investor, it's an opportunity," said Richard Sichel, chief investment officer at Philadelphia Trust Co., which has $1.9 billion under management. He noted a new investment, the retail chain PetSmart, as an example.

Wayne Wilbanks, chief investment officer at the asset management firm Wilbanks, Smith & Thomas, said the market might have fallen too quickly. He also cautioned that the gains from the last two days may not last.

"Be very careful," Wilbanks said. "You haven't missed out on much if you've sat on the sidelines since May. I'm not putting a lot of money to work here."

Traders had two good economic reports to parse through Thursday. The U.S. economy grew at a 2.5 percent annual rate from April through June, much faster than previously estimated, the government said. Also, the Labor Department said the number of people who filed for unemployment benefits last week fell to 331,000, the fewest in five years. 								

 *The NYSE DOW closed  	HIGHER ▲	16.44	points or ▲	0.11%	on	Thursday, 29 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14840.95	▲	16.44	▲	0.11%		
	Nasdaq___	3620.3	▲	26.95	▲	0.75%		
	S&P_500__	1638.17	▲	3.21	▲	0.20%		
	30_Yr_Bond	3.7	▼	-0.05	▼	-1.36%		

NYSE Volume	 2,837,185,250 	 	 	 	 	  		 
Nasdaq Volume	 1,316,634,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6483.05	▲	52.99	▲	0.82%		
	DAX_____	8194.55	▲	36.65	▲	0.45%		
	CAC_40__	3986.35	▲	25.89	▲	0.65%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5083.1	▲	5.1	▲	0.10%		
	Shanghai_Comp	2097.23	▼	-4.07	▼	-0.19%		
	Taiwan_Weight	7917.66	▲	93.12	▲	1.19%		
	Nikkei_225____	13459.71	▲	121.25	▲	0.91%		
	Hang_Seng____	21704.78	▲	180.13	▲	0.84%		
	Strait_Times___	3038.03	▲	33.85	▲	1.13%		
	NZX_50_Index__	4520.5	▲	10.79	▲	0.24%		

http://finance.yahoo.com/news/stocks-post-mild-gains-following-202838178.html

*Stocks post mild gains following economic data**

Stocks rise as better economic news outweighs worries about Syria; Verizon rises on deal talks*

By Ken Sweet, AP Markets Writer 

Positive news on the U.S. economy outweighed worries about Syria Thursday, sending the stock market higher for a second straight day.

The Dow Jones industrial average added 16.44 points, or 0.1 percent, to 14,840.95, while the Standard & Poor's 500 index rose 3.2 points, or 0.2 percent, to 1,638.17. The Nasdaq composite posted a bigger gain, rising 27 points, or 0.8 percent, to 3,620.30.

The Dow has gained 64 points over the past two days, not nearly enough to make up for its 170-point loss Tuesday as tensions over Syria rattled markets.

Verizon Communications was the biggest gainer among the blue chips after Britain's Vodafone confirmed it was in talks with Verizon to sell its 45 percent stake their joint venture, Verizon Wireless.

Verizon rose $1.26, or 2.7 percent, to $47.82. The U.S.-listed shares of Vodafone rose $2.39, or 8.1 percent, to $31.80.

While many fund managers said they're not looking to jump back into the market just yet, some individual companies are looking attractive again.

"If you're a long-term investor, it's an opportunity," said Richard Sichel, chief investment officer at Philadelphia Trust Co., which has $1.9 billion under management. He noted a new investment, the retail chain PetSmart, as an example.

Wayne Wilbanks, chief investment officer at the asset management firm Wilbanks, Smith & Thomas, said the market might have fallen too quickly. He also cautioned that the gains from the last two days may not last.

"Be very careful," Wilbanks said. "You haven't missed out on much if you've sat on the sidelines since May. I'm not putting a lot of money to work here."

Traders had two good economic reports to parse through Thursday. The U.S. economy grew at a 2.5 percent annual rate from April through June, much faster than previously estimated, the government said. Also, the Labor Department said the number of people who filed for unemployment benefits last week fell to 331,000, the fewest in five years.

While lower unemployment claims and an upward revision on GDP are both positive signs, most of Wall Street's attention is focused on next week, when the August jobs report will be released. The Federal Reserve is expected to decide the fate of its massive bond-buying program in mid-September, and the jobs survey will be the last bit of significant economic data the Fed will have to consider before making its decision.

Traders also continue to watch Syria, where a U.S.-led attack could happen, although such a strike seems less imminent than earlier in the week. Oil fell to below $109 a barrel Thursday.

"The general feeling is that Syrian tensions have eased a bit," said Alec Young, global equity strategist with S&P Capital IQ.

The price of crude oil fell $1.30, or 1.2 percent, to $108.80 a barrel. Oil had climbed as high as $112 earlier this week.

Energy-related stocks fell. Exxon Mobil slipped 2 percent and Chevron fell 1 percent.

Investors worry that a limited strike could drag the U.S. and its allies into that nation's civil war, or worse, set off a regional conflict in an area where so much of the world's oil is located.

Beyond the news about Syria, it has been a mostly quiet week for stocks. Traders are winding down during the last week of summer and heading out for the Labor Day holiday this weekend.

Trading volume on the New York Stock Exchange thin: 2.5 billion shares compared with a recent average of 3.4 billion shares.

Wilbanks said he doesn't expect the market to move substantially higher, citing the mediocre second-quarter earnings that U.S. companies just finished reporting.

"We're going to need to see robust corporate profit growth to move the market higher," he said.

In other corporate news, teen clothing store operator Guess jumped $3.51, or 13 percent, to $30.82 after the company reported second-quarter profit and revenue late Wednesday that blew past the expectations of Wall Street analysts. The retailer also raised its profit forecast for the year.

Campbell Soup fell $1.38, or 3 percent, to $43.33 after posting a loss for its fiscal fourth quarter. The company's results were dragged down by a charge related to the potential sale of a European business. While the results topped Wall Street's estimates, revenue missed expectations.


----------



## bigdog

Source: http://finance.yahoo.com 

August was tough on the stock market. Now, investors face an even scarier September.

Disappointing news on consumer spending helped pull stocks lower Friday in a quiet end to the market's worst month in more than a year.

The Standard & Poor's 500 index closed August with a loss of 3.1 percent while the Dow Jones industrial average lost 4.4 percent. Both had their biggest one-month drop since May 2012.

The month began on a high note. On Aug. 2, news that unemployment fell to its lowest level in more than four years helped lift the S&P 500 index to a record high of 1,709.67. Then things quickly changed.

Bond yields jumped, sending mortgage rates up, as investors began speculating that the Federal Reserve would withdraw some of its support for the economy as early as September.

An array of questions weighed on investors' minds, said Lawrence Creatura, a money manager at Federated Investors.

The latest wild card is Syria. The possibility that the U.S. could strike Bashar al-Assad's regime propelled oil prices to a two-year high earlier in the week.

"The Syria situation is a strong dose of uncertainty," Creatura said. "And investors hate uncertainty."

Before the market opened Friday, the government reported that Americans' income and spending both increased just 0.1 percent in July. The scant rise suggested that economic growth is off to a weak start in the second half of the year. It followed other reports showing steep drops in new-home sales and orders for long-lasting manufactured goods in July.

The major indexes headed lower from the opening bell on Friday and never recovered. The S&P dropped 5.20 points, or 0.3 percent, to close at 1,632.97. Retail stores and other consumer-discretionary companies led eight of the index's 10 industry groups to slight losses.

The Dow Jones industrial fell 30.64 points, or 0.2 percent, to close at 14,810.31, and the Nasdaq composite dropped 30.43 points, or 0.8 percent, to 3,589.87.

Many investors say the recent slide is hardly a surprise after the stock market had such a strong run. The S&P 500 is still up 14.5 percent this year.

September could be even more difficult. Craig Johnson, a technical market strategist at Piper Jaffray, said he expects trading to turn increasingly turbulent. That's because September is stacked with so many events that could shake investors' confidence. 								

 *The NYSE DOW closed  	LOWER ▼	-30.64	points or ▼	-0.21%	on	Friday, 30 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14810.31	▼	-30.64	▼	-0.21%		
	Nasdaq___	3589.87	▼	-30.43	▼	-0.84%		
	S&P_500__	1632.97	▼	-5.2	▼	-0.32%		
	30_Yr_Bond	3.68	▼	-0.03	▼	-0.73%		

NYSE Volume	 3,001,327,750 	 	 	 	 	  		 
Nasdaq Volume	 1,301,344,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6412.93	▼	-70.12	▼	-1.08%		
	DAX_____	8103.15	▼	-91.4	▼	-1.12%		
	CAC_40__	3933.78	▼	-52.57	▼	-1.32%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5125.3	▲	42.2	▲	0.83%		
	Shanghai_Comp	2098.38	▲	1.15	▲	0.06%		
	Taiwan_Weight	8021.89	▲	104.23	▲	1.32%		
	Nikkei_225____	13388.86	▼	-70.85	▼	-0.53%		
	Hang_Seng____	21731.37	▲	26.59	▲	0.12%		
	Strait_Times___	3028.94	▼	-9.09	▼	-0.30%		
	NZX_50_Index__	4540.97	▲	20.47	▲	0.45%		

http://finance.yahoo.com/news/stocks-slip-lower-investors-weigh-143249730.html

*Stocks slip lower as investors weigh weak spending**

Stock market drifts lower as investors assess weak spending; market headed for monthly loss*

By Matthew Craft | Associated Press

August was tough on the stock market. Now, investors face an even scarier September.

Disappointing news on consumer spending helped pull stocks lower Friday in a quiet end to the market's worst month in more than a year.

The Standard & Poor's 500 index closed August with a loss of 3.1 percent while the Dow Jones industrial average lost 4.4 percent. Both had their biggest one-month drop since May 2012.

The month began on a high note. On Aug. 2, news that unemployment fell to its lowest level in more than four years helped lift the S&P 500 index to a record high of 1,709.67. Then things quickly changed.

Bond yields jumped, sending mortgage rates up, as investors began speculating that the Federal Reserve would withdraw some of its support for the economy as early as September.

An array of questions weighed on investors' minds, said Lawrence Creatura, a money manager at Federated Investors.

The latest wild card is Syria. The possibility that the U.S. could strike Bashar al-Assad's regime propelled oil prices to a two-year high earlier in the week.

"The Syria situation is a strong dose of uncertainty," Creatura said. "And investors hate uncertainty."

Before the market opened Friday, the government reported that Americans' income and spending both increased just 0.1 percent in July. The scant rise suggested that economic growth is off to a weak start in the second half of the year. It followed other reports showing steep drops in new-home sales and orders for long-lasting manufactured goods in July.

The major indexes headed lower from the opening bell on Friday and never recovered. The S&P dropped 5.20 points, or 0.3 percent, to close at 1,632.97. Retail stores and other consumer-discretionary companies led eight of the index's 10 industry groups to slight losses.

The Dow Jones industrial fell 30.64 points, or 0.2 percent, to close at 14,810.31, and the Nasdaq composite dropped 30.43 points, or 0.8 percent, to 3,589.87.

Many investors say the recent slide is hardly a surprise after the stock market had such a strong run. The S&P 500 is still up 14.5 percent this year.

September could be even more difficult. Craig Johnson, a technical market strategist at Piper Jaffray, said he expects trading to turn increasingly turbulent. That's because September is stacked with so many events that could shake investors' confidence.

Germany holds national elections that could change how the eurozone handles rescue loans for troubled countries. The U.S. Congress will need to pass a spending bill to avoid a government shutdown. And many people expect the Fed to reduce its bond purchases, which have bolstered the economy and stock market.

"Most people I talk to have scaled back and are taking a more defensive posture," Johnson said. "They're bracing for volatility."

Salesforce.com jumped to an all-time high after the cloud-computing company reported strong quarterly results and raised its sales forecast late Thursday. Salesforce.com was up $5.48, or 13 percent, to $49.13, the biggest gain of any company in the S&P 500 index.

In the government bond market, the yield on the 10-year Treasury note edged up to 2.77 percent from 2.76 percent late Thursday.

Among other companies making moves Friday:

”” General Electric reportedly plans to spin off its credit-card division through an initial public offering of stock. The IPO could come early next year, according to The Wall Street Journal. GE's stock rose 3 cents, less than 0.1 percent, to $23.14.

”” Big Lots gained 78 cents, or 2 percent, to $35.42. Early Friday, the operator of discount-stores reported lower quarterly earnings and U.S. sales, but its overall results still topped the estimates of financial analysts.

”” Krispy Kreme Doughnuts plunged 15 percent. Late Thursday, the company posted a drop in quarterly profits, which came in below analysts' estimates. Krispy Kreme's stock lost $3.51 to $19.72.

9859


----------



## bigdog

Source: http://finance.yahoo.com 

*NYSE was closed for Labor Day holiday on Monday September 2.*

Evidence of a rebound in manufacturing activity in China and Europe helped global stock markets rise Monday, though Wall Street's closure for Labor Day kept trading volumes light.

The possibility of a U.S. military strike against Syria in retaliation for alleged chemical weapons use against civilians continued to overhang markets but the initial concern has abated. U.K. lawmakers voted against involvement and President Barack Obama decided to seek approval from Congress.

In Britain, the FTSE 100 added 1.5 percent to close at 6,506.19. Most of that gain was thanks to cellphone company Vodafone which said it was with in talks with Verizon to sell its U.S. mobile business. Confirmation of the $130 billion deal came after trading in London had finished for the day, but Vodafone's shares closed up 3.4 percent at 2.13 pounds on expectations of the purchase.

Meanwhile, Germany's DAX index ended the day up 1.74 percent to 8,243.87 while France's CAC-40 was up 1.84 percent to 4,006.01. Italian and Spanish stocks were also up after surveys showed manufacturing activity rose in the two countries, which are in recession and have been focal points of Europe's debt crisis.

Global sentiment was also earlier boosted by two surveys that showed China's manufacturing sector also improved last month after prolonged weakness.

The HSBC purchasing managers' index rose to 50.1 points in August, a level that indicates expansion as output and new orders edged up slightly and order backlogs rose at the fastest pace in two years. The official China Federation of Logistics and Purchasing PMI rose to 51.0 from July's 50.3, which was the highest level and biggest increase this year.

Both indexes use a 100-point scale on which numbers below 50 indicate a contraction.

The signs of improvement in China's massive manufacturing industry are encouraging news for its overseas suppliers as Chinese leaders try to reverse a slowdown that's pulled economic growth to a two-decade low of 7.5 percent in the latest quarter.

Japan's Nikkei 225 stock average gained 1.4 percent to close at 13,572.92. Hong Kong's Hang Seng jumped 2 percent to 22,175.34. Australia's S&P/ASX 200 climbed 1 percent to 5,188.30. Benchmarks in South Korea, Indonesia and the Philippines fell.

Last week, markets had been buffeted by weak U.S. economic data. The U.S. government reported Friday that Americans' income and spending both increased just 0.1 percent in July. The scant rise suggested that economic growth was off to a weak start in the second half of the year. It followed other reports showing steep drops in new-home sales and orders for long-lasting manufactured goods in July.							

 *NYSE was closed for Labor Day holiday on Monday September 2.
The NYSE DOW closed  	LOWER ▼	-30.64	points or ▼	-0.21%	on	Friday, 30 August 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14810.31	▼	-30.64	▼	-0.21%		
	Nasdaq___	3589.87	▼	-30.43	▼	-0.84%		
	S&P_500__	1632.97	▼	-5.2	▼	-0.32%		
	30_Yr_Bond	3.68	▼	-0.03	▼	-0.73%		

NYSE Volume	 3,001,327,750 	 	 	 	 	  		 
Nasdaq Volume	 1,301,344,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6506.19	▲	93.26	▲	1.45%		
	DAX_____	8243.87	▲	140.72	▲	1.74%		
	CAC_40__	4006.01	▲	72.23	▲	1.84%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5178	▲	52.7	▲	1.03%		
	Shanghai_Comp	2098.45	▲	0.07	▲	0.00%		
	Taiwan_Weight	8038.86	▲	16.97	▲	0.21%		
	Nikkei_225____	13572.92	▲	184.06	▲	1.37%		
	Hang_Seng____	22175.34	▲	443.97	▲	2.04%		
	Strait_Times___	3057.16	▲	28.22	▲	0.93%		
	NZX_50_Index__	4596.36	▲	55.39	▲	1.22%		

http://finance.yahoo.com/news/chinese-european-growth-signs-support-124606685.html

*Chinese, European growth signs support stocks

World stocks gain as Chinese, European manufacturing improves and Vodafone seals Verizon deal*

By Carlo Piovano, Associated Pres

LONDON (AP) -- Evidence of a rebound in manufacturing activity in China and Europe helped global stock markets rise Monday, though Wall Street's closure for Labor Day kept trading volumes light.

The possibility of a U.S. military strike against Syria in retaliation for alleged chemical weapons use against civilians continued to overhang markets but the initial concern has abated. U.K. lawmakers voted against involvement and President Barack Obama decided to seek approval from Congress.

In Britain, the FTSE 100 added 1.5 percent to close at 6,506.19. Most of that gain was thanks to cellphone company Vodafone which said it was with in talks with Verizon to sell its U.S. mobile business. Confirmation of the $130 billion deal came after trading in London had finished for the day, but Vodafone's shares closed up 3.4 percent at 2.13 pounds on expectations of the purchase.

Meanwhile, Germany's DAX index ended the day up 1.74 percent to 8,243.87 while France's CAC-40 was up 1.84 percent to 4,006.01. Italian and Spanish stocks were also up after surveys showed manufacturing activity rose in the two countries, which are in recession and have been focal points of Europe's debt crisis.

Global sentiment was also earlier boosted by two surveys that showed China's manufacturing sector also improved last month after prolonged weakness.

The HSBC purchasing managers' index rose to 50.1 points in August, a level that indicates expansion as output and new orders edged up slightly and order backlogs rose at the fastest pace in two years. The official China Federation of Logistics and Purchasing PMI rose to 51.0 from July's 50.3, which was the highest level and biggest increase this year.

Both indexes use a 100-point scale on which numbers below 50 indicate a contraction.

The signs of improvement in China's massive manufacturing industry are encouraging news for its overseas suppliers as Chinese leaders try to reverse a slowdown that's pulled economic growth to a two-decade low of 7.5 percent in the latest quarter.

Japan's Nikkei 225 stock average gained 1.4 percent to close at 13,572.92. Hong Kong's Hang Seng jumped 2 percent to 22,175.34. Australia's S&P/ASX 200 climbed 1 percent to 5,188.30. Benchmarks in South Korea, Indonesia and the Philippines fell.

Last week, markets had been buffeted by weak U.S. economic data. The U.S. government reported Friday that Americans' income and spending both increased just 0.1 percent in July. The scant rise suggested that economic growth was off to a weak start in the second half of the year. It followed other reports showing steep drops in new-home sales and orders for long-lasting manufactured goods in July.

Benchmark crude for October delivery was down $1.08 at $106.57 a barrel in electronic trading on the New York Mercantile Exchange as fears of military strikes on Syria continued to fade. The contract fell $1.15 on Friday.

In currencies, the euro dipped to $1.3190 from $1.3202. The dollar rose to 99.35 yen from 98.19 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market rose modestly Tuesday as renewed worries about a U.S.-led attack on Syria dampened an early rally.

Stocks surged in the opening minutes of trading as traders felt that a U.S. attack on Syria wasn't imminent after President Barack Obama announced over the weekend that he would seek congressional approval for a strike.

But the early rally faded after the top Republican in Congress said he would support President Obama's call for the U.S. to take action. Speaking in the late morning, House of Representatives Speaker John Boehner said the use of chemical weapons must be responded to.

"Key Republicans seem to agree with Obama on Syria," said JJ Kinahan, chief derivatives strategist for TD Ameritrade. "It puts us in a difficult situation as to what might happen from here."

The Dow Jones industrial average closed up 23.65 points, or 0.2 percent, to 14,833.96. The index had climbed as much as 123 points in early trading.

The Dow was also held back by Microsoft and Verizon, which both slumped after announcing deals.

The Standard & Poor's 500 index gained 6.80 points, or 0.4 percent, to 1,639.77. The Nasdaq composite climbed 22.74 points, or 0.6 percent, to 3,612.

The stock market also got an early boost from a report showing that U.S. manufacturing expanded last month at the fastest pace since June 2011. The report was better than economist had expected, according to estimates compiled by data provider FactSet. 

After a tough August, stocks may struggle to rally in September because of a string of events that could shake investors, said Randy Frederick, managing director of active trading and derivatives at the Schwab Center for Financial Research.

The S&P 500 logged its worst performance since May 2012 last month as investors fretted about when the Federal Reserve will cut its economic stimulus. The Fed's next meeting, which starts Sept. 17, is when many on Wall Street think the central bank will begin winding down its massive bond-buying program.

Lawmakers in Washington may also throw investors a curve ball.

To keep the government running, Congress needs to pass a short-term spending bill before the fiscal year starts Oct. 1. Then there's the government's $16.7 trillion borrowing limit. Treasury Secretary Jacob Lew warned that, unless it's raised soon, the government would lose the ability to pay all of its bills by the middle of October. 								

 *The NYSE DOW closed  	HIGHER ▲	23.65	points or ▲	0.16%	on	Tuesday, 3 September 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14833.96	▲	23.65	▲	0.16%		
	Nasdaq___	3612.61	▲	22.74	▲	0.63%		
	S&P_500__	1639.77	▲	6.8	▲	0.42%		
	30_Yr_Bond	3.78	▲	0.1	▲	2.72%		

NYSE Volume	 4,137,213,500 	 	 	 	 	  		 
Nasdaq Volume	 1,599,786,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6468.41	▼	-37.78	▼	-0.58%		
	DAX_____	8180.71	▼	-63.16	▼	-0.77%		
	CAC_40__	3974.07	▼	-31.94	▼	-0.80%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5188.9	▲	10.9	▲	0.21%		
	Shanghai_Comp	2123.11	▲	24.66	▲	1.18%		
	Taiwan_Weight	8088.37	▲	49.51	▲	0.62%		
	Nikkei_225____	13978.44	▲	405.52	▲	2.99%		
	Hang_Seng____	22394.58	▲	219.24	▲	0.99%		
	Strait_Times___	3054.78	▼	-0.94	▼	-0.03%		
	NZX_50_Index__	4606.71	▲	10.35	▲	0.23%		

http://finance.yahoo.com/news/stocks-end-slightly-higher-rally-211641618.html

*Stocks end slightly higher after rally fades

Stocks end slightly higher; early rally fades as worries about US attack on Syria re-emerge*

By Steve Rothwell, AP Markets Writer

The stock market rose modestly Tuesday as renewed worries about a U.S.-led attack on Syria dampened an early rally.

Stocks surged in the opening minutes of trading as traders felt that a U.S. attack on Syria wasn't imminent after President Barack Obama announced over the weekend that he would seek congressional approval for a strike.

But the early rally faded after the top Republican in Congress said he would support President Obama's call for the U.S. to take action. Speaking in the late morning, House of Representatives Speaker John Boehner said the use of chemical weapons must be responded to.

"Key Republicans seem to agree with Obama on Syria," said JJ Kinahan, chief derivatives strategist for TD Ameritrade. "It puts us in a difficult situation as to what might happen from here."

The Dow Jones industrial average closed up 23.65 points, or 0.2 percent, to 14,833.96. The index had climbed as much as 123 points in early trading.

The Dow was also held back by Microsoft and Verizon, which both slumped after announcing deals.

The Standard & Poor's 500 index gained 6.80 points, or 0.4 percent, to 1,639.77. The Nasdaq composite climbed 22.74 points, or 0.6 percent, to 3,612.

The stock market also got an early boost from a report showing that U.S. manufacturing expanded last month at the fastest pace since June 2011. The report was better than economist had expected, according to estimates compiled by data provider FactSet.

In corporate news, CBS surged $2.40, or 2.7 percent, to $53.50 after the broadcaster and Time Warner Cable reached an agreement that ended a blackout of CBS and CBS-owned channels such as Showtime.

Other corporate news was disappointing. Microsoft fell $1.52, or 4.6 percent, to $31.88 after the software company said it would acquire Nokia's smartphone business and a portfolio of patents and services. Microsoft is trying to capture a slice of the lucrative mobile computing market that is dominated by Apple and Google, and investors are concerned that Microsoft won't succeed.

Verizon fell $1.37, or 2.9 percent, to $46.01 after the company agreed to pay $130 billion for Vodafone's stake in Verizon Wireless.

After a tough August, stocks may struggle to rally in September because of a string of events that could shake investors, said Randy Frederick, managing director of active trading and derivatives at the Schwab Center for Financial Research.

The S&P 500 logged its worst performance since May 2012 last month as investors fretted about when the Federal Reserve will cut its economic stimulus. The Fed's next meeting, which starts Sept. 17, is when many on Wall Street think the central bank will begin winding down its massive bond-buying program.

Lawmakers in Washington may also throw investors a curve ball.

To keep the government running, Congress needs to pass a short-term spending bill before the fiscal year starts Oct. 1. Then there's the government's $16.7 trillion borrowing limit. Treasury Secretary Jacob Lew warned that, unless it's raised soon, the government would lose the ability to pay all of its bills by the middle of October.

Political wrangling in Washington shook financial markets in August 2011, when lawmakers fought over raising the debt ceiling. That led the rating agency Standard & Poor's to strip the U.S. of its triple-A credit rating.

"All these catalysts out there ... are still there," said Frederick. "There's just not enough upside catalysts, and there's plenty of downside catalysts."

September has often been a losing month for the stock market. Since 1945, the S&P 500 index has slumped nearly six out of every 10 Septembers, with an average loss of 0.6 percent.

In government bond trading, the yield on the 10-year Treasury note climbed to 2.86 percent from 2.79 percent Friday. U.S. markets were closed Monday for Labor Day.

In commodities trading, the price of oil rose 89 cents, or 0.8 percent, to $108.54. The price of gold rose $15.90, or 1.1 percent, $1,412 an ounce.


----------



## bigdog

Source: http://finance.yahoo.com 

A jump in U.S. auto sales and other good news on the economy helped drive the stock market higher Wednesday.

General Motors and other carmakers surged after posting strong sales in August, giving the industry its best month in six years.

"Car sales were really impressive," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York. They're important for what they suggest about the larger economy: solid consumer spending and increased manufacturing. "It means the economy is holding up," Cardillo said.

The Standard & Poor's 500 index rose 13.31 points, or 0.8 percent, to 1,653.08.

The Dow Jones industrial average gained 96.91 points, or 0.7 percent, to close at 14,930.87 and the Nasdaq composite rose 36.43 points, or 1 percent, to 3,649.04.

Jim Russell, a senior equity strategist at U.S. Bank Wealth Management in Cincinnati, said recent economic reports have drawn a brighter picture of the global economy, even as concerns over a U.S. strike on Syria have claimed much of the public's attention.

A trade group said Tuesday that U.S. factories increased production last month at the fastest pace since June 2011, propelled by a sharp rise in new orders. Separate reports out Monday showed stronger manufacturing in Europe and China.

"All of these add up to better economic growth on a global scale," Russell said.

On Wednesday, General Motors said its sales rose 15 percent last month, while Chrysler and Ford each reported 12 percent gains. Toyota posted the biggest increase as sales rose nearly 23 percent since August of last year.

GM climbed $1.71, or 5 percent, to $35.85, one of the biggest gains in the S&P 500 index. Ford rose 57 cents, or 3 percent, to $16.91.

The Nasdaq Stock Market ran into technical problems for the second time in two weeks. The exchange reported that its system for disseminating prices had a brief outage, from 11:35 a.m. to 11:41 a.m., but said trading was not affected.

On Aug. 22, all trading in Nasdaq-listed stocks was halted for three hours because of a problem with the same quote-disseminating system.

Investors were also looking ahead to Friday, when the August jobs report will be released. Economists expect that the U.S. created 177,000 jobs last month and that the unemployment rate held steady at 7.4 percent, according to the data provider FactSet. 								

 *The NYSE DOW closed  	HIGHER ▲	96.91	points or ▲	0.65%	on	Wednesday, 4 September 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14930.87	▲	96.91	▲	0.65%		
	Nasdaq___	3649.04	▲	36.43	▲	1.01%		
	S&P_500__	1653.08	▲	13.31	▲	0.81%		
	30_Yr_Bond	3.799	▲	0.023	▲	0.61%		

NYSE Volume	 3,516,943,750 	 	 	 	 	  		 
Nasdaq Volume	 1,812,184,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6474.74	▲	6.33	▲	0.10%		
	DAX_____	8195.92	▲	15.21	▲	0.19%		
	CAC_40__	3980.42	▲	6.35	▲	0.16%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5156.5	▼	-32.4	▼	-0.62%		
	Shanghai_Comp	2127.62	▲	4.51	▲	0.21%		
	Taiwan_Weight	8083.44	▼	-4.93	▼	-0.06%		
	Nikkei_225____	14053.87	▲	75.43	▲	0.54%		
	Hang_Seng____	22326.22	▼	-68.36	▼	-0.31%		
	Strait_Times___	3015.42	▼	-39.36	▼	-1.29%		
	NZX_50_Index__	4610.31	▲	3.6	▲	0.08%		

http://finance.yahoo.com/news/stocks-end-higher-led-strong-210148473.html

*Stocks end higher, led by strong US auto sales**

Stock market ends higher, driven by impressive auto sales and other good news on the economy*

By Ken Sweet and Matthew Craft, AP Business Writers

A jump in U.S. auto sales and other good news on the economy helped drive the stock market higher Wednesday.

General Motors and other carmakers surged after posting strong sales in August, giving the industry its best month in six years.

"Car sales were really impressive," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York. They're important for what they suggest about the larger economy: solid consumer spending and increased manufacturing. "It means the economy is holding up," Cardillo said.

The Standard & Poor's 500 index rose 13.31 points, or 0.8 percent, to 1,653.08.

The Dow Jones industrial average gained 96.91 points, or 0.7 percent, to close at 14,930.87 and the Nasdaq composite rose 36.43 points, or 1 percent, to 3,649.04.

Jim Russell, a senior equity strategist at U.S. Bank Wealth Management in Cincinnati, said recent economic reports have drawn a brighter picture of the global economy, even as concerns over a U.S. strike on Syria have claimed much of the public's attention.

A trade group said Tuesday that U.S. factories increased production last month at the fastest pace since June 2011, propelled by a sharp rise in new orders. Separate reports out Monday showed stronger manufacturing in Europe and China.

"All of these add up to better economic growth on a global scale," Russell said.

On Wednesday, General Motors said its sales rose 15 percent last month, while Chrysler and Ford each reported 12 percent gains. Toyota posted the biggest increase as sales rose nearly 23 percent since August of last year.

GM climbed $1.71, or 5 percent, to $35.85, one of the biggest gains in the S&P 500 index. Ford rose 57 cents, or 3 percent, to $16.91.

The Nasdaq Stock Market ran into technical problems for the second time in two weeks. The exchange reported that its system for disseminating prices had a brief outage, from 11:35 a.m. to 11:41 a.m., but said trading was not affected.

On Aug. 22, all trading in Nasdaq-listed stocks was halted for three hours because of a problem with the same quote-disseminating system.

Investors were also looking ahead to Friday, when the August jobs report will be released. Economists expect that the U.S. created 177,000 jobs last month and that the unemployment rate held steady at 7.4 percent, according to the data provider FactSet.

Friday's jobs report is the last major piece of economic data the Federal Reserve will have to work with before the central bank decides whether or not to pull back on its massive bond-buying program. That program has kept interest rates abnormally low. While most investors believe the Fed will begin to pull back, the question has become when and how much.

"Even if the August employment figures were weaker than expected, we think the odds would likely still favor a September (pullback), just of a smaller magnitude," economists with the investment bank RBS wrote in a note to clients.

The yield on the 10-year Treasury note edged up to 2.89 percent from 2.86 percent late Tuesday. The price of crude oil fell $1.31, or 1 percent, to close at $107.23 a barrel on the New York Mercantile Exchange. Gold fell $22, or 2 percent, to $1,390 an ounce.

Among other stocks making big moves:

”” Dollar General jumped $2.51, or 5 percent, to $56.39 after the discount store chain reported profits that narrowly beat Wall Street analysts' estimates. In contrast to some of its competitors, Dollar General said sales at stores open more than a year climbed.

”” Francesca's Holdings, which operates the francesca's line of retail stores, plunged after reporting results that fell short of Wall Street's estimates. The company cut its forecast for full-year earnings, citing poor customer traffic. Its stock sank $6.23, or 26 percent, to $17.79.

”” Ciena surged $2.86, or 14 percent, to $23.54. The developer of high-speed networking technology reported adjusted earnings that were far higher than Wall Street analysts expected, a result of higher revenue and lower costs.


----------



## bigdog

Source: http://finance.yahoo.com 

More evidence of an improving job market helped lift the stock market Thursday.

The Labor Department reported that the four-week average of applications for U.S. unemployment benefits has fallen in the past month to its lowest point since October 2007, two months before the Great Recession officially began.

Also, a survey from the payroll company ADP showed that American businesses added 176,000 jobs in August, fewer than in June and July but roughly in line with the monthly average for the year.

The encouraging news came one day before the government releases its closely watched report on job growth for August. Many investors believe that strong growth will ensure that the Federal Reserve will start to reduce, or "taper," its bond-buying program later this month.

The U.S. central bank is buying $85 billion in bonds a month to keep long-term interest rates low and to stimulate the economy. Fed stimulus has helped drive a bull market in stocks that has lasted more than four years.

As well as supporting stock prices, the reports helped push the yield on 10-year Treasury notes to 3 percent, the highest level since July 2011.

Thursday's employment news means that "the Fed probably lays out a tapering schedule in September," said Phil Orlando, chief equity market strategist at Federated Investors.

While stock trading may be volatile in the coming weeks, investors will ultimately see the reduced stimulus as a positive sign because it means that the economy is strong enough to expand without the Fed's help, Orlando said. "It should leave stocks in great shape."

The Dow Jones industrial average rose 6.61 points, or less than 0.1 percent, to 14,937.48. The Standard & Poor's 500 index rose two points, or 0.1 percent, to 1,655.08. The Nasdaq composite gained 9.74 points, or 0.3 percent, to 3,658.78.

Some retail stocks were among the biggest gainers. 								

 *The NYSE DOW closed  	HIGHER ▲	6.61	points or ▲	0.04%	on	Thursday, 5 September 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14937.48	▲	6.61	▲	0.04%		
	Nasdaq___	3658.78	▲	9.74	▲	0.27%		
	S&P_500__	1655.08	▲	2	▲	0.12%		
	30_Yr_Bond	3.878	▲	0.079	▲	2.08%		

NYSE Volume	 3,193,979,250 	 	 	 	 	  		 
Nasdaq Volume	 1,529,089,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6532.44	▲	57.7	▲	0.89%		
	DAX_____	8234.98	▲	39.06	▲	0.48%		
	CAC_40__	4006.8	▲	26.38	▲	0.66%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5138.4	▼	-18.1	▼	-0.35%		
	Shanghai_Comp	2122.43	▼	-5.19	▼	-0.24%		
	Taiwan_Weight	8169.1	▲	85.66	▲	1.06%		
	Nikkei_225____	14064.82	▲	10.95	▲	0.08%		
	Hang_Seng____	22597.97	▲	271.75	▲	1.22%		
	Strait_Times___	3040.65	▲	25.23	▲	0.84%		
	NZX_50_Index__	4604.35	▼	-5.96	▼	-0.13%		

http://finance.yahoo.com/news/stocks-edge-higher-encouraging-jobs-150259332.html

*Stocks edge higher after encouraging jobs reports

Stocks edge up after encouraging employment reports; 10-year Treasury yield hits 3 percent*

By Steve Rothwell, AP Markets Writer 

More evidence of an improving job market helped lift the stock market Thursday.

The Labor Department reported that the four-week average of applications for U.S. unemployment benefits has fallen in the past month to its lowest point since October 2007, two months before the Great Recession officially began.

Also, a survey from the payroll company ADP showed that American businesses added 176,000 jobs in August, fewer than in June and July but roughly in line with the monthly average for the year.

The encouraging news came one day before the government releases its closely watched report on job growth for August. Many investors believe that strong growth will ensure that the Federal Reserve will start to reduce, or "taper," its bond-buying program later this month.

The U.S. central bank is buying $85 billion in bonds a month to keep long-term interest rates low and to stimulate the economy. Fed stimulus has helped drive a bull market in stocks that has lasted more than four years.

As well as supporting stock prices, the reports helped push the yield on 10-year Treasury notes to 3 percent, the highest level since July 2011.

Thursday's employment news means that "the Fed probably lays out a tapering schedule in September," said Phil Orlando, chief equity market strategist at Federated Investors.

While stock trading may be volatile in the coming weeks, investors will ultimately see the reduced stimulus as a positive sign because it means that the economy is strong enough to expand without the Fed's help, Orlando said. "It should leave stocks in great shape."

The Dow Jones industrial average rose 6.61 points, or less than 0.1 percent, to 14,937.48. The Standard & Poor's 500 index rose two points, or 0.1 percent, to 1,655.08. The Nasdaq composite gained 9.74 points, or 0.3 percent, to 3,658.78.

Some retail stocks were among the biggest gainers.

Costco rose $3.12, or 2.8 percent, to $114.62 after the discount store chain said revenue at stores open at least a year rose 4 percent in August, slightly faster than Wall Street's expectations. Walgreen's also gained after reporting a strong rise in sales last month. Walgreen's rose 70 cents, or 1.4 percent, to $50.19 after reporting a 4.8 percent increase in sales.

In government bond trading, the yield on the 10-year Treasury note climbed after the jobs reports. It also edged higher after a private survey showed that the U.S. service sector expanded at the fastest pace in nearly 8 years last month as sales and orders grew and employers ramped up hiring.

The yield on the 10-year note climbed to 3 percent late Thursday from 2.90 a day earlier. The yield is the highest it's been since July 2011 as bond traders anticipate that the Federal Reserve will cut back on its stimulus. It has risen sharply from a recent low of 1.63 percent in early May.

Rising yields on Treasury notes matter for the economy because they are used to set mortgage rates and other key interest rates. Average fixed rates on U.S. long-term mortgage rates rose to 4.57 percent this week, close to their highest of the year.

Stocks slumped in August, in part due to concern that the Fed would slow stimulus and the higher interest rates would harm the economy. The S&P 500 index fell 3.1 percent, its biggest monthly decline since May 2012.

It appears, however, that investors are getting more comfortable with higher borrowing costs.

"We don't anticipate that a gradual rise in rates will choke off the economy," said Dave Roda, regional chief investment officer for Wells Fargo Private Bank. "We are still looking at very low rates historically."

In commodities trading, the price of oil rose $1.14, or 1.1 percent, to $108.37 a barrel. Gold fell $17, or 1.2 percent, to $1,373 an ounce.

Among other stocks making big moves:

”” Conn's, a consumer finance company, fell $7.95, or 12 percent, to $60.36 after the company reported second-quarter earnings that missed Wall Street expectations.

”” Groupon rose 37 cents, or 3.5 percent, to $10.66 after Morgan Stanley raised its recommendation on the stock to "overweight" as the company tweaked its business model.

”” Louisiana-Pacific, a building products company, rose $1.69, or 11 percent, to $16.95 after the company said late Wednesday that it is buying Ainsworth Lumber of Canada for $1.1 billion.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market ended flat Friday as traders hoped for more economic stimulus from the Federal Reserve, and worried about escalating tensions between the U.S. and Syria.

While stocks ended close to where they began, their prices were volatile throughout the day. Stocks opened slightly higher but soon fell after Russian media reported that naval ships were en route to Syria, raising worries of a wider conflict and sending the Dow Jones industrial average down as much 148 points in the first half-hour of trading. The Dow rose as high as 15,009 and dropped as low as 14,789 ”” a big 220 point range.

"Clearly, (Russia) made the market nervous," said Dean Junkans, chief investment officer for Wells Fargo Private Bank, which has $170 billion in assets under management

The Standard & Poor's 500 index rose less than a point, or 0.01 percent, to close at 1,655.17. The Dow ended down 14.98 points, or 0.1 percent, at 14,922.50. The Nasdaq composite rose 1.23 points, or 0.03 percent, to 3,660.01.

Traders were rattled by conflicting forces. A mediocre August jobs report suggested that U.S. economic growth was slowing, while providing a reason for the Fed to keep up its stimulus program. The geopolitical risks of Syria added to the uncertainty Friday.

One clear trend emerged: investors moved money into safer assets. The yield on the 10-year Treasury note fell to 2.94 percent from 3 percent the day before. Relatively safe, dividend-paying stocks such as utilities were among the best performers in the S&P 500 and gold rose more than 1 percent.

Wall Street was unnerved by signs that the confrontation between the U.S. and Syria over Syria's alleged use of chemical weapons on civilians was getting worse. Three Russian naval ships sailed toward Syria on Friday and a fourth was on its way, the Interfax news agency reported, a sign that Russia may assist Syria in case the U.S. does strike. However, Russia President Vladimir Putin's chief of staff said the ships were intended to help evacuate Russian citizens if military strikes become necessary.

"These are troubling developments," said David Chalupnik, head of equities for Nuveen Asset Management. "Syria is turning into something bigger that what it started out to be."

The price of crude oil rose as traders anticipated that any escalation of tensions in the Middle East might disrupt the flow of oil from the region. Oil rose $2.07 to $110.43 a barrel.

Putting aside Friday's volatility, Wall Street had a pretty good week. The S&P 500 rose 1.4 percent for the week, and the Nasdaq was up nearly 2 percent. It was the best five-day gain for the S&P 500 in two months.

U.S. employers added 169,000 jobs last month, fewer than the 177,000 economists had forecast. The number of jobs added in July was estimated by the government at 104,000, down from an earlier 162,000.

"This was a horrible set of jobs figures, starting with large revision to last month's number," Tom di Galoma, head of fixed-income rates sales at ED&F Man Capital, wrote in an email to clients. 								

 *The NYSE DOW closed  	LOWER ▼	-14.98	points or ▼	-0.10%	on	Friday, 6 September 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14922.5	▼	-14.98	▼	-0.10%		
	Nasdaq___	3660.01	▲	1.23	▲	0.03%		
	S&P_500__	1655.17	▲	0.09	▲	0.01%		
	30_Yr_Bond	3.873	▼	-0.005	▼	-0.13%		

NYSE Volume	 3,384,952,750 	 	 	 	 	  		 
Nasdaq Volume	 1,687,716,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6547.33	▲	14.89	▲	0.23%		
	DAX_____	8275.67	▲	40.69	▲	0.49%		
	CAC_40__	4049.19	▲	42.39	▲	1.06%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5144	▲	5.6	▲	0.11%		
	Shanghai_Comp	2139.99	▲	17.56	▲	0.83%		
	Taiwan_Weight	8164.2	▼	-4.9	▼	-0.06%		
	Nikkei_225____	13860.81	▼	-204.01	▼	-1.45%		
	Hang_Seng____	22621.22	▲	23.25	▲	0.10%		
	Strait_Times___	3048.35	▲	8.9	▲	0.29%		
	NZX_50_Index__	4597.18	▼	-7.17	▼	-0.16%		

http://finance.yahoo.com/news/stocks-end-flat-despite-jobs-210555818.html

*Stocks end flat, despite jobs report, Syria**

Stocks close mostly unchanged; S&P 500 has best week in 2 months*

By Ken Sweet, AP Markets Writer

The stock market ended flat Friday as traders hoped for more economic stimulus from the Federal Reserve, and worried about escalating tensions between the U.S. and Syria.

While stocks ended close to where they began, their prices were volatile throughout the day. Stocks opened slightly higher but soon fell after Russian media reported that naval ships were en route to Syria, raising worries of a wider conflict and sending the Dow Jones industrial average down as much 148 points in the first half-hour of trading. The Dow rose as high as 15,009 and dropped as low as 14,789 ”” a big 220 point range.

"Clearly, (Russia) made the market nervous," said Dean Junkans, chief investment officer for Wells Fargo Private Bank, which has $170 billion in assets under management

The Standard & Poor's 500 index rose less than a point, or 0.01 percent, to close at 1,655.17. The Dow ended down 14.98 points, or 0.1 percent, at 14,922.50. The Nasdaq composite rose 1.23 points, or 0.03 percent, to 3,660.01.

Traders were rattled by conflicting forces. A mediocre August jobs report suggested that U.S. economic growth was slowing, while providing a reason for the Fed to keep up its stimulus program. The geopolitical risks of Syria added to the uncertainty Friday.

One clear trend emerged: investors moved money into safer assets. The yield on the 10-year Treasury note fell to 2.94 percent from 3 percent the day before. Relatively safe, dividend-paying stocks such as utilities were among the best performers in the S&P 500 and gold rose more than 1 percent.

Wall Street was unnerved by signs that the confrontation between the U.S. and Syria over Syria's alleged use of chemical weapons on civilians was getting worse. Three Russian naval ships sailed toward Syria on Friday and a fourth was on its way, the Interfax news agency reported, a sign that Russia may assist Syria in case the U.S. does strike. However, Russia President Vladimir Putin's chief of staff said the ships were intended to help evacuate Russian citizens if military strikes become necessary.

"These are troubling developments," said David Chalupnik, head of equities for Nuveen Asset Management. "Syria is turning into something bigger that what it started out to be."

The price of crude oil rose as traders anticipated that any escalation of tensions in the Middle East might disrupt the flow of oil from the region. Oil rose $2.07 to $110.43 a barrel.

Putting aside Friday's volatility, Wall Street had a pretty good week. The S&P 500 rose 1.4 percent for the week, and the Nasdaq was up nearly 2 percent. It was the best five-day gain for the S&P 500 in two months.

U.S. employers added 169,000 jobs last month, fewer than the 177,000 economists had forecast. The number of jobs added in July was estimated by the government at 104,000, down from an earlier 162,000.

"This was a horrible set of jobs figures, starting with large revision to last month's number," Tom di Galoma, head of fixed-income rates sales at ED&F Man Capital, wrote in an email to clients.

Friday's jobs survey is the last major piece of economic data the Fed will have to consider before its September 17-18 policy meeting, when it will decide the fate of its large bond-buying program.

The Fed has been buying $85 billion in Treasurys and other bonds each month to keep interest rates low and encourage hiring and economic growth. It was widely believed that the Fed would start phasing out its purchases this month.

Most market watchers said they still believe the Fed will start pulling back in September, however the amount of the pullback may be smaller, Nuveen's Chalupnik said.

Stocks making big moves included:

”” Mattress Firm, which plunged $6.10, or 15 percent, to $35.59 after the company reported a second-quarter profit that fell far below financial analysts' expectations.

”” VeriFone Systems jumped $2.09, or 10 percent, to $22.81 after the electronic payment terminal maker reported third-quarter results on Thursday that beat Wall Street expectations.

0476


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market got a boost on Monday from mergers, homes, and phones.

Stocks posted their biggest gains in almost two months. Two big deals suggested growing confidence in the economy: Luxury retailer Neiman Marcus was sold for $6 billion, and Koch Industries bought electronics component maker Molex for $7.2 billion.

Homebuilding stocks were some of the biggest gainers in the Standard & Poor's 500 index after Hovnavian Enterprises said home prices are rising and its backlog jumped almost 27 percent from a year earlier.

Hovnanian rose 11 cents, or 2.2 percent, to close at $5.15. PulteGroup, D.R. Horton and Lennar also gained. Homebuilder MDC Holdings rose $1.72, or 6.2 percent, to $29.37 after an upgrade from a Citi analyst.

Homebuilding stocks have had a volatile year. Investors have been bullish because the housing market is recovering, but worried that rising interest rates make mortgages more expensive for home buyers.

Apple rose. It's expected to announce a new iPhone on Tuesday.

The Dow Jones industrial average rose 140.62 points, or 1 percent, to 15,063.12. The Dow hit an all-time high of 15,658 on Aug. 2. But worries about Syria and rising interest rates pushed stocks down since then. The last time the Dow closed above 15,000 was Aug. 23.

The S&P 500 index rose 16.54 points, or 1 percent, to 1,671.71. The Nasdaq composite rose 46.17 points, or 1.3 percent, to 3,706.18. Both the Dow and the S&P 500 had their biggest daily gains since July 11.

All 10 industry groups in the S&P 500 rose. The index rose for the fifth day in a row, the longest since eight days of gains in July. 								

 *The NYSE DOW closed  	HIGHER ▲	140.62	points or ▲	0.94%	on	Monday, 9 September 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15063.12	▲	140.62	▲	0.94%		
	Nasdaq___	3706.18	▲	46.17	▲	1.26%		
	S&P_500__	1671.71	▲	16.54	▲	1.00%		
	30_Yr_Bond	3.84	▼	-0.033	▼	-0.85%		

NYSE Volume	 3,360,467,750 	 	 	 	 	  		 
Nasdaq Volume	 1,633,970,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6530.74	▼	-1.7	▼	-0.03%		
	DAX_____	8276.32	▲	0.65	▲	0.01%		
	CAC_40__	4040.33	▼	-8.86	▼	-0.22%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5179.4	▲	35.4	▲	0.69%		
	Shanghai_Comp	2212.52	▲	72.52	▲	3.39%		
	Taiwan_Weight	8192.11	▲	27.91	▲	0.34%		
	Nikkei_225____	14205.23	▲	344.42	▲	2.48%		
	Hang_Seng____	22750.65	▲	129.43	▲	0.57%		
	Strait_Times___	3088.2	▲	39.85	▲	1.31%		
	NZX_50_Index__	4614.02	▲	16.84	▲	0.37%		

http://finance.yahoo.com/news/stocks-rise-mergers-homebuilder-outlook-175053220.html

*Stocks rise on mergers, homebuilder outlook

Stocks rise as homebuilder outlook and mergers suggest stronger economy; Dow above 15,000*

By Joshua Freed, AP Business Writer 

The stock market got a boost on Monday from mergers, homes, and phones.

Stocks posted their biggest gains in almost two months. Two big deals suggested growing confidence in the economy: Luxury retailer Neiman Marcus was sold for $6 billion, and Koch Industries bought electronics component maker Molex for $7.2 billion.

Homebuilding stocks were some of the biggest gainers in the Standard & Poor's 500 index after Hovnavian Enterprises said home prices are rising and its backlog jumped almost 27 percent from a year earlier.

Hovnanian rose 11 cents, or 2.2 percent, to close at $5.15. PulteGroup, D.R. Horton and Lennar also gained. Homebuilder MDC Holdings rose $1.72, or 6.2 percent, to $29.37 after an upgrade from a Citi analyst.

Homebuilding stocks have had a volatile year. Investors have been bullish because the housing market is recovering, but worried that rising interest rates make mortgages more expensive for home buyers.

Apple rose. It's expected to announce a new iPhone on Tuesday.

The Dow Jones industrial average rose 140.62 points, or 1 percent, to 15,063.12. The Dow hit an all-time high of 15,658 on Aug. 2. But worries about Syria and rising interest rates pushed stocks down since then. The last time the Dow closed above 15,000 was Aug. 23.

The S&P 500 index rose 16.54 points, or 1 percent, to 1,671.71. The Nasdaq composite rose 46.17 points, or 1.3 percent, to 3,706.18. Both the Dow and the S&P 500 had their biggest daily gains since July 11.

All 10 industry groups in the S&P 500 rose. The index rose for the fifth day in a row, the longest since eight days of gains in July.

Two things about the Koch-Molex deal grabbed investors' attention: Its components show up in a wide variety of products, including housing and autos, so Koch's interest suggests that it sees broad economic improvement. Also, Koch is paying a large premium for Molex.

Koch is paying $38.50 per share, 31 percent over Molex's stock price on Friday. Molex soared $9.29, or almost 32 percent, to $38.63 on Monday.

"I think it's really exciting for just about everybody to see that big of a deal go through," said Kim Forrest, senior analyst with portfolio management firm Fort Pitt Capital Group in Pittsburgh.

Apple rose back above $500 per share. It last closed above that level on Aug. 26. Apple gained $7.95, or 1.6 percent, to $506.17 on Monday in advance of an expected iPhone announcement on Tuesday.

Delta Air Lines jumped $1.87, or 9.4 percent, to $21.76 after news that it would be added to the S&P 500 index. That benefits Delta because mutual funds and other investors that track the S&P 500 will now have to buy Delta's stock. JPMorgan analyst Jamie Baker estimated that inclusion in the index will add demand for almost 89 million Delta shares.

Stocks in Asia rose lifted by Tokyo's win for the 2020 Summer Olympics, Chinese export growth and an election victory by Australia's conservative coalition.

The coalition supports repealing a 30 percent tax on coal and iron ore miners' profits, which could help mining and other raw material companies. Caterpillar, which makes mining gear used in China and Australia, rose $2.20, or 2.6 percent, to $85.59, and mining company Cliffs Natural Resources was up $1.33, or 6.1 percent, to $23.18.

The positive news out of the Asia-Pacific region helped outweigh worries about rising interest rates and Syria, said Doug Cote, chief market strategist at ING U.S. Investment Management. "The risk of taking action seems too great for them to act," he said. "I'm watching it daily, but I'm certainly not worried about it."

In U.S. government bond trading, the yield on the 10-year Treasury note fell to 2.92 percent from 2.94 percent late Friday. It traded as high as 3 percent last Thursday, a key psychological level because the 10-year yield is the most widely used benchmark for borrowing in the U.S.

Benchmark crude oil fell $1.01 to $109.52. The euro rose to $1.326 from $1.3173 late Friday, while the dollar rose to 99.59 yen from 99.10 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks rose and oil prices fell Tuesday as the risk that the U.S. would attack Syria appeared to fade.

The Standard & Poor's 500 index had its sixth straight gain, the longest winning streak since July.

Stocks set new highs in early August, but worries over Syria have pushed them lower since then. Even though Syria isn't a big oil producer, the possibility of a wider conflict in the region drove oil prices to two-year highs last week.

On Tuesday, investors were relieved that Syria accepted a proposal to put its chemical weapons under international control for dismantling. The possibility that the crisis between the U.S. and Syria might be solved peacefully was a factor in the stock market's gain on Monday, too.

The Dow Jones industrial average rose 127.94 points, or 0.9 percent, to close 15,191.06. The Standard & Poor's 500 index rose 12.28 points, or 0.73 percent, to 1,683.99 and the Nasdaq composite rose 22.84 points, or 0.62 percent, to 3,729.02.

Crude oil, which closed above $110 a barrel on Friday, lost $2.13, almost 2 percent, to close at $107.39 a barrel.

All 10 industry groups in the S&P 500 rose. The biggest gains were in financial and industrial stocks.

Despite the recent gains for stocks, Ralph Fogel of Fogel Neale Partners thinks it's about time for a pullback in the market. He noted that it's close to the five-year anniversary of the financial crisis, and the Dow has more than doubled since then.

The years since the crisis brought "almost a straight-up market without a 15 percent correction. That's a pretty neat move," he said. "That doesn't mean you have to have one, but the probability starts to get higher and higher."

"The next significant move isn't up 20" percent, he said. "It's down 20."

Scott Wren, a senior equity strategist for Wells Fargo Advisors in St. Louis, said investors are still nervous.

"A lot of our clients are sitting on too much cash and are kind of paranoid of the market," he said. He expects stock prices to be volatile over the next few months because of the debate over the U.S. debt ceiling as well as elections in Germany.

The Dow average got a shakeup on Tuesday. It's dropping Bank of America, Hewlett-Packard and Alcoa, to be replaced by Goldman Sachs, Nike, and Visa at the start of trading on Sept. 23. The Dow is made up of 30 stocks. 								

 *The NYSE DOW closed  	HIGHER ▲	127.94	points or ▲	0.85%	on	Tuesday, 10 September 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15191.06	▲	127.94	▲	0.85%		
	Nasdaq___	3729.02	▲	22.84	▲	0.62%		
	S&P_500__	1683.99	▲	12.28	▲	0.73%		
	30_Yr_Bond	3.89	▲	0.05	▲	1.28%		

NYSE Volume	 3,938,259,250 	 	 	 	 	  		 
Nasdaq Volume	 1,809,078,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6583.99	▲	53.25	▲	0.82%		
	DAX_____	8446.54	▲	170.22	▲	2.06%		
	CAC_40__	4116.64	▲	76.31	▲	1.89%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5198.9	▲	19.5	▲	0.38%		
	Shanghai_Comp	2237.98	▲	25.47	▲	1.15%		
	Taiwan_Weight	8208.77	▲	16.66	▲	0.20%		
	Nikkei_225____	14423.36	▲	218.13	▲	1.54%		
	Hang_Seng____	22976.65	▲	226	▲	0.99%		
	Strait_Times___	3121.81	▲	33.61	▲	1.09%		
	NZX_50_Index__	4627.76	▲	13.74	▲	0.30%		

http://finance.yahoo.com/news/stocks-rise-syria-conflict-looks-141842345.html

*Stocks rise as Syria conflict looks less likely

Stocks higher as conflict with Syria looks avoidable; 3 new stocks for the Dow Jones average*

By Joshua Freed, AP Business Writer

Stocks rose and oil prices fell Tuesday as the risk that the U.S. would attack Syria appeared to fade.

The Standard & Poor's 500 index had its sixth straight gain, the longest winning streak since July.

Stocks set new highs in early August, but worries over Syria have pushed them lower since then. Even though Syria isn't a big oil producer, the possibility of a wider conflict in the region drove oil prices to two-year highs last week.

On Tuesday, investors were relieved that Syria accepted a proposal to put its chemical weapons under international control for dismantling. The possibility that the crisis between the U.S. and Syria might be solved peacefully was a factor in the stock market's gain on Monday, too.

The Dow Jones industrial average rose 127.94 points, or 0.9 percent, to close 15,191.06. The Standard & Poor's 500 index rose 12.28 points, or 0.73 percent, to 1,683.99 and the Nasdaq composite rose 22.84 points, or 0.62 percent, to 3,729.02.

Crude oil, which closed above $110 a barrel on Friday, lost $2.13, almost 2 percent, to close at $107.39 a barrel.

All 10 industry groups in the S&P 500 rose. The biggest gains were in financial and industrial stocks.

Despite the recent gains for stocks, Ralph Fogel of Fogel Neale Partners thinks it's about time for a pullback in the market. He noted that it's close to the five-year anniversary of the financial crisis, and the Dow has more than doubled since then.

The years since the crisis brought "almost a straight-up market without a 15 percent correction. That's a pretty neat move," he said. "That doesn't mean you have to have one, but the probability starts to get higher and higher."

"The next significant move isn't up 20" percent, he said. "It's down 20."

Scott Wren, a senior equity strategist for Wells Fargo Advisors in St. Louis, said investors are still nervous.

"A lot of our clients are sitting on too much cash and are kind of paranoid of the market," he said. He expects stock prices to be volatile over the next few months because of the debate over the U.S. debt ceiling as well as elections in Germany.

The Dow average got a shakeup on Tuesday. It's dropping Bank of America, Hewlett-Packard and Alcoa, to be replaced by Goldman Sachs, Nike, and Visa at the start of trading on Sept. 23. The Dow is made up of 30 stocks.

S&P Dow Jones Indices said the change won't disrupt the level of the industrial average. It said it made the change to diversify the sector and industry group representation of the index.

Hewlett-Packard fell 9 cents, or 0.4 percent, to $22.27. Alcoa was roughly flat and Bank of America rose 13 cents, or almost 1 percent, to $14.61.

Visa rose $6.04, or 3.4 percent, to $184.50; Nike rose $1.42, or 2.2 percent, to $66.82, and Goldman Sachs rose $5.65, or 3.5 percent, to $165.14.

In other notable moves:

”” Apple dropped $11.53, or 2.3 percent, to $494.60 after investors were underwhelmed by its new iPhone lineup.

”” Microsoft rose 73 cents, or 2.3 percent, to $32.39 on rumors about who might be its next CEO when Steve Ballmer retires next year.

”” Urban Outfitters fell $4.36, or 10 percent, to $38.35 after saying its third-quarter sales increases are weaker than earlier in the year.

Traders sold safe-play assets as the threat of a strike on Syria faded. Gold fell $22.70, or 1.9 percent, to $1,364 an ounce, and the yield on the benchmark 10-year Treasury note rose to 2.97 percent from 2.91 percent.

The dollar strengthened to 100.33 Japanese yen, and fell slightly against the euro.


----------



## bigdog

Source: http://finance.yahoo.com 

Investors decided the risk of a conflict with Syria is shrinking and sent stock prices higher.

The Dow Jones industrial average rose 135.54 points, or 0.9 percent, to 15,326.60 on Wednesday. A big decline in Apple and other technology companies held back the Standard & Poor's 500 index and the Nasdaq composite. The S&P 500 managed a small gain, its seventh in a row.

U.S. and Russian diplomats are working on a plan that would lead to Syria giving up chemical weapons that President Barack Obama says were used against civilians. Obama said the U.S. will explore a possible diplomatic solution, though the U.S. military remains ready to attack.

After a tough August, stocks have been rising in September. The S&P 500 is up 3.4 percent so far this month. Since September began, a U.S. strike on Syria has gone from seeming imminent to being something that may or may not ever happen.

The risk that a confrontation with Syria could spread means most investors would be happy if the U.S. doesn't act, said Cam Albright, director of asset allocation at Wilmington Trust Investment Advisors. "Markets are much more happy when they don't have to deal with that particular risk," he said.

The S&P 500 edged up 5.14 points, or 0.3 percent, to 1,689.13. The Nasdaq composite fell 4.01 points, or 0.1 percent, to 3,725.01.

Disappointment over Apple's new iPhone lineup dragged down tech stocks. The two S&P 500 stocks with the biggest declines were Apple and the chip supplier Qualcomm, which makes the radio chip used in previous iPhones and is expected to make the chip used in the new iPhones, too.

Apple's new iPhones struck many as only a modest advance from previous models. Investors fretted that Apple is offering the phone's new operating system for free to people who already own older iPhones, removing an incentive to buy the new model. Also, some analysts felt that Apple's lowest-priced iPhone ”” $549 without a two-year cell phone contract ”” isn't cheap enough to win many buyers in emerging markets.

There was a broad expectation that Apple would cut prices more and go for bigger market share, said Wayne Lam, an analyst for IHS iSuppli, which tracks components used in electronics. Instead, they stuck with their business model of avoiding cheap versions of its products.

"It's a proven business model, and good for them, but I think the expectation is that Apple is losing market share and they're not innovating," he said. 								

 *The NYSE DOW closed  	HIGHER ▲	135.54	points or ▲	0.89%	on	Wednesday, 11 September 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15326.6	▲	135.54	▲	0.89%		
	Nasdaq___	3725.01	▼	-4.01	▼	-0.11%		
	S&P_500__	1689.13	▲	5.14	▲	0.31%		
	30_Yr_Bond	3.86	▼	-0.029	▼	-0.75%		

NYSE Volume	 3,382,299,000 	 	 	 	 	  		 
Nasdaq Volume	 1,688,458,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6588.43	▲	4.44	▲	0.07%		
	DAX_____	8495.73	▲	49.19	▲	0.58%		
	CAC_40__	4119.11	▲	2.47	▲	0.06%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5230.6	▲	31.7	▲	0.61%		
	Shanghai_Comp	2241.27	▲	3.28	▲	0.15%		
	Taiwan_Weight	8208.99	▲	0.22	▲	0.00%		
	Nikkei_225____	14425.07	▲	1.71	▲	0.01%		
	Hang_Seng____	22937.14	▼	-39.51	▼	-0.17%		
	Strait_Times___	3108.19	▼	-15.7	▼	-0.50%		
	NZX_50_Index__	4634.9	▲	7.14	▲	0.15%		

http://finance.yahoo.com/news/stocks-rise-iphone-disappointment-hurts-204901730.html

*Stocks rise; iPhone disappointment hurts Apple

Stocks mostly rise; Dow, S&P 500 up but Apple pulls down the Nasdaq composite*

By Joshua Freed, AP Business Writer

Investors decided the risk of a conflict with Syria is shrinking and sent stock prices higher.

The Dow Jones industrial average rose 135.54 points, or 0.9 percent, to 15,326.60 on Wednesday. A big decline in Apple and other technology companies held back the Standard & Poor's 500 index and the Nasdaq composite. The S&P 500 managed a small gain, its seventh in a row.

U.S. and Russian diplomats are working on a plan that would lead to Syria giving up chemical weapons that President Barack Obama says were used against civilians. Obama said the U.S. will explore a possible diplomatic solution, though the U.S. military remains ready to attack.

After a tough August, stocks have been rising in September. The S&P 500 is up 3.4 percent so far this month. Since September began, a U.S. strike on Syria has gone from seeming imminent to being something that may or may not ever happen.

The risk that a confrontation with Syria could spread means most investors would be happy if the U.S. doesn't act, said Cam Albright, director of asset allocation at Wilmington Trust Investment Advisors. "Markets are much more happy when they don't have to deal with that particular risk," he said.

The S&P 500 edged up 5.14 points, or 0.3 percent, to 1,689.13. The Nasdaq composite fell 4.01 points, or 0.1 percent, to 3,725.01.

Disappointment over Apple's new iPhone lineup dragged down tech stocks. The two S&P 500 stocks with the biggest declines were Apple and the chip supplier Qualcomm, which makes the radio chip used in previous iPhones and is expected to make the chip used in the new iPhones, too.

Apple's new iPhones struck many as only a modest advance from previous models. Investors fretted that Apple is offering the phone's new operating system for free to people who already own older iPhones, removing an incentive to buy the new model. Also, some analysts felt that Apple's lowest-priced iPhone ”” $549 without a two-year cell phone contract ”” isn't cheap enough to win many buyers in emerging markets.

There was a broad expectation that Apple would cut prices more and go for bigger market share, said Wayne Lam, an analyst for IHS iSuppli, which tracks components used in electronics. Instead, they stuck with their business model of avoiding cheap versions of its products.

"It's a proven business model, and good for them, but I think the expectation is that Apple is losing market share and they're not innovating," he said.

Apple fell $26.93, or 5.4 percent, at $467.71. Apple stock fell on Tuesday, too, after rising 11 percent in the month leading up to the announcement.

Qualcomm fell $2, or 2.9 percent, to $68.09. Apple makes up some 15 percent of Qualcomm revenue, Lam estimates. Supplier Cirrus Logic Inc. fell $1.20, or 5.2 percent, to $21.89.

Utilities and tech were the only two industry sectors in the S&P 500 that fell. The other eight rose, led by energy stocks.

Traders on the floor of the New York Stock Exchange observed a moment of silence shortly before trading began on the 12th anniversary of the Sept. 11 terrorist attacks.

Other companies making big moves included:

”” Restoration Hardware, down $9.02, or 11.9 percent, to $67.04 after reporting second-quarter sales that were not as strong as in the first quarter.

”” Disney rose $1.11, or 1.8 percent, to $63.94 after delaying its fifth "Pirates of the Caribbean" movie from a planned 2015 opening. Studios struggled with big-budget flops this summer, including Disney's "The Lone Ranger," and investors may be glad that it will take its time with the "Pirates" sequel.

”” IBM rose $4.10, or 2.2 percent, to $190.70 after saying it would sell a customer care outsourcing business to Synnex for $505 million in cash and stock. Synnex soared $9.62, or 20 percent, to $57.59.

Oil prices rose 17 cents to close at $107.56 after two days of declines. Gold fell 20 cents to $1,363.80.

The yield on the 10-year Treasury note fell to 2.92 percent from 2.97 percent a day earlier.

The dollar weakened slightly to 1.33 euro and 99.86 Japanese yen.


----------



## bigdog

Source: http://finance.yahoo.com 

The Dow Jones industrial average edged down 25.96 points, or 0.2 percent, to close at 15,300.64. The Dow had gained 404 points over the previous three days and is still up 3.3 percent this month.

The last three days of gains have helped the Dow recover the bulk of its losses in August, the worst month for the blue-chip index since May 2012.

The Standard & Poor's 500 index fell 5.71 points, or 0.3 percent, to 1,683.42 after rising the previous seven days. That was the longest winning streak since a string of eight gains between July 3 and July 15.

The Nasdaq composite fell 9.04 points, or 0.2 percent, to 3,715.97. That followed a sharp decline Wednesday caused by a sell-off in Apple's stock.

The Dow did better than other indices because of Walt Disney, which jumped after the company said it plans to buy back up to $8 billion of its own stock starting next year. Disney rose $1.55, or 2 percent, to $65.49. 							

September was supposed to be ugly for financial markets.

The prospects of a U.S. attack on Syria and less economic stimulus from the Federal Reserve only added to investor worries going into September, which historically is the worst month of the year for stocks.

Instead, the Dow Jones industrial average is up 3.3 percent so far this month, even after it slipped 26 points, to 15,300.64 on Thursday. The Standard & Poor's 500 index is up 3.1 percent this month, after falling six points Thursday to 1,683.42.

The S&P 500 rose for seven straight days before Thursday, its longest winning streak since July. The Dow climbed three straight days before Thursday's loss.

Another positive sign for markets is the CBOE Volatility Index, sometimes referred to as "Wall Street's fear gauge." When the VIX, as it is better known, moves higher, it means investors expect more volatility in the next 30 days. It is down more than 15 percent this month. Gold, another signal of investor fear, is down more than five percent.

What happened to gloomy September?

The recent de-escalation of the U.S.-Syria crisis combined with a calming in the bond market has provided fuel to lift stocks, market strategists and investors said. Expectations of stronger corporate earnings are also helping out stocks, investors said.

While the ultimate fate of a U.S. attack on Syria is unknown, it looks like an immediate missile strike isn't happening soon.

Syrian President Bashar Assad said Thursday his government has agreed to surrender its chemical weapons in response to a Russian proposal.

"Syria is still there as a concern, but it's starting to de-escalate," said Richard Sichel, chief investment officer at Philadelphia Trust Co., which manages $1.9 billion in assets.

While Syria's economy is too small to have an impact on the global economy, the country is important for oil markets since a conflict there could escalate and jeopardize the flow of crude from the Middle East.

"We're no longer looking at the worst-case scenario," said Burt White, chief investment officer with LPL Financial.

It's also important to look at what's happened in the bond market the last couple of weeks, said J.J. Kinahan, chief strategist at TD Ameritrade.

Investors had been dumping bonds most of the summer, Kinahan said, as investors prepared for the Fed to quickly wind down a bond-purchase program that had kept interest rates low for so long. The yield on the 10-year Treasury note soared from 1.63 percent in early May to 3 percent last week. Bond prices fall as yields rise. 								

 *The NYSE DOW closed  	LOWER ▼	-25.96	points or ▼	-0.17%	on	Thursday, 12 September 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15300.64	▼	-25.96	▼	-0.17%		
	Nasdaq___	3715.97	▼	-9.04	▼	-0.24%		
	S&P_500__	1683.42	▼	-5.71	▼	-0.34%		
	30_Yr_Bond	3.85	▼	-0.01	▼	-0.39%		

NYSE Volume	 3,368,567,750 	 	 	 	 	  		 
Nasdaq Volume	 1,628,226,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6588.98	▲	0.55	▲	0.01%		
	DAX_____	8494	▼	-1.73	▼	-0.02%		
	CAC_40__	4106.63	▼	-12.48	▼	-0.30%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5238.2	▲	7.6	▲	0.15%		
	Shanghai_Comp	2255.6	▲	14.34	▲	0.64%		
	Taiwan_Weight	8225.36	▲	16.37	▲	0.20%		
	Nikkei_225____	14387.27	▼	-37.8	▼	-0.26%		
	Hang_Seng____	22953.72	▲	16.58	▲	0.07%		
	Strait_Times___	3121.08	▲	12.89	▲	0.41%		
	NZX_50_Index__	4641.5	▲	6.6	▲	0.14%		

http://finance.yahoo.com/news/fear-volatile-september-stocks-fades-212103345.html

*Fear of volatile September for stocks fades

September starts strong for stocks, despite previous worries*

By Ken Sweet, AP Markets Writer

September was supposed to be ugly for financial markets.

The prospects of a U.S. attack on Syria and less economic stimulus from the Federal Reserve only added to investor worries going into September, which historically is the worst month of the year for stocks.

Instead, the Dow Jones industrial average is up 3.3 percent so far this month, even after it slipped 26 points, to 15,300.64 on Thursday. The Standard & Poor's 500 index is up 3.1 percent this month, after falling six points Thursday to 1,683.42.

The S&P 500 rose for seven straight days before Thursday, its longest winning streak since July. The Dow climbed three straight days before Thursday's loss.

Another positive sign for markets is the CBOE Volatility Index, sometimes referred to as "Wall Street's fear gauge." When the VIX, as it is better known, moves higher, it means investors expect more volatility in the next 30 days. It is down more than 15 percent this month. Gold, another signal of investor fear, is down more than five percent.

What happened to gloomy September?

The recent de-escalation of the U.S.-Syria crisis combined with a calming in the bond market has provided fuel to lift stocks, market strategists and investors said. Expectations of stronger corporate earnings are also helping out stocks, investors said.

While the ultimate fate of a U.S. attack on Syria is unknown, it looks like an immediate missile strike isn't happening soon.

Syrian President Bashar Assad said Thursday his government has agreed to surrender its chemical weapons in response to a Russian proposal.

"Syria is still there as a concern, but it's starting to de-escalate," said Richard Sichel, chief investment officer at Philadelphia Trust Co., which manages $1.9 billion in assets.

While Syria's economy is too small to have an impact on the global economy, the country is important for oil markets since a conflict there could escalate and jeopardize the flow of crude from the Middle East.

"We're no longer looking at the worst-case scenario," said Burt White, chief investment officer with LPL Financial.

It's also important to look at what's happened in the bond market the last couple of weeks, said J.J. Kinahan, chief strategist at TD Ameritrade.

Investors had been dumping bonds most of the summer, Kinahan said, as investors prepared for the Fed to quickly wind down a bond-purchase program that had kept interest rates low for so long. The yield on the 10-year Treasury note soared from 1.63 percent in early May to 3 percent last week. Bond prices fall as yields rise.

Nearly every major debt investment in the U.S. is pegged to the 10-year note, from rates on corporate loans and home mortgages to student loans. When yields rise, it raises the cost of lending for everyone ”” potentially cutting into corporate profits, weighing down the stock and housing markets, and ultimately affecting the economy.

"The yield on the 10-year Treasury may be the most important number in the entire world," White said.

But after the 10-year note struck that psychologically-important three percent mark, the selloff of the notes slowed, along with the rise of the yield.

Most investors have become more comfortable with the Fed's plan and do not believe the central bank will reduce its bond purchases as much as originally anticipated, several investors said. The Fed is buying $85 billion of bonds each month. It could limit purchases to $75 billion or $80 billion a month, instead of $55 billion.

"The bond market got ahead of itself and expected a big exit by the Fed and frankly that hasn't happened and it's unlikely it's going to happen," White said.

There are other signs of a calmer bond market. Verizon Communications sold $49 billion in bonds Wednesday, the biggest bond sale ever by a corporation. Demand was robust as bond investors placed more than $100 billion in orders for Verizon's offering. On the same day, the Treasury Department auctioned off $21 billion in fresh 10-year notes, which was also met with strong demand.

"The fact that the market was able to absorb that much supply is very important," said Eric Wiegand, senior portfolio manager for the U.S. Bank's private client reserve.

The amount of money in the U.S. bond market is around $38 trillion, roughly double the size of the U.S. stock market. So when things calm down in the bond market, it affects stocks.

Investors are looking ahead to slow but steady growth in corporate earnings, as third-quarter earnings season starts up in October.

LPL's White pointed to stronger-than-expected manufacturing and service industry reports from the Institute for Supply Management last week as another reason why stocks have performed so well.

"Nothing predicts how corporate earnings will do better than the ISM reports," he said.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks rose broadly Friday, giving the Dow Jones industrial average its best week since January.

The market got a lift from two economic reports, one showing that inflation remained tame in August and the other showing that Americans spent more at stores last month.

The Dow rose 75.42 points, or 0.5 percent, to 15,376.06. The index closed up three percent for the week, its best five-day performance since the week ending Jan. 4.

Intel led the Dow higher. Analysts at Jefferies & Co. said Intel may be able to increase its sales with power-efficient chips. Intel rose 81 cents, or 3.6 percent, to $23.44.

The Standard & Poor's 500 index rose 4.57 points, or 0.3 percent, to 1,687.99. The Nasdaq composite index rose 6.22 points, or 0.2 percent, to 3,722.18.

Traders had a few economic reports to work through. Americans increased their spending modestly in August, roughly 0.2 percent, the Commerce Department reported, however that was half of what economists expected.

The sales report was mixed. Shoppers spent more on cars, electronics and furniture, but they didn't buy much else. Last month, several retail chains including Nordstrom, Macy's and Wal-Mart cut their profit forecasts for the year.

The government also reported that wholesale prices rose 0.3 percent last month. Over the past year, prices have only gained 1.4 percent, a sign that inflation has remains modest. One thing driving wholesale prices higher was energy, which spiked as tensions with Syria and the U.S. escalated.

Trading was light as Wall Street headed into the weekend and the Jewish holiday of Yom Kippur.

Investors were looking ahead to the Federal Reserve's policy meeting on Sept. 17-18, when the central bank is expected to decide the future of its bond-buying program.

"There's a lot of 'wait and see' going on until the Fed meeting next week," said Frank Davis, director of sales and trading at LEK Securities.

The Fed is buying $85 billion in bonds each month, and the consensus among investors is that the central bank will decide to reduce its buying to about $75 billion or $80 billion a month. The question is not whether the Fed will cut back on its bond buying but by how much, said Scott Clemons, chief investment strategist with Brown Brothers Harriman Wealth Management. 								

 *The NYSE DOW closed  	HIGHER ▲	75.42	points or ▲	0.49%	on	Friday, 13 September 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15376.06	▲	75.42	▲	0.49%		
	Nasdaq___	3722.18	▲	6.22	▲	0.17%		
	S&P_500__	1687.99	▲	4.57	▲	0.27%		
	30_Yr_Bond	3.847	▲	0.002	▲	0.05%		

NYSE Volume	 2,969,530,500 	 	 	 	 	  		 
Nasdaq Volume	 1,439,453,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6583.8	▼	-5.18	▼	-0.08%		
	DAX_____	8509.42	▲	15.42	▲	0.18%		
	CAC_40__	4114.5	▲	7.87	▲	0.19%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5214.7	▼	-23.5	▼	-0.45%		
	Shanghai_Comp	2236.22	▼	-19.39	▼	-0.86%		
	Taiwan_Weight	8168.2	▼	-57.16	▼	-0.69%		
	Nikkei_225____	14404.67	▲	17.4	▲	0.12%		
	Hang_Seng____	22915.28	▼	-38.44	▼	-0.17%		
	Strait_Times___	3120.3	▼	-0.78	▼	-0.02%		
	NZX_50_Index__	4650.94	▲	9.44	▲	0.20%		

http://finance.yahoo.com/news/dow-j...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Dow Jones average has its best week since January

Stocks keep rolling in September: Dow Jones industrial average has its best week since January*

By Ken Sweet, AP Markets Writer

Stocks rose broadly Friday, giving the Dow Jones industrial average its best week since January.

The market got a lift from two economic reports, one showing that inflation remained tame in August and the other showing that Americans spent more at stores last month.

The Dow rose 75.42 points, or 0.5 percent, to 15,376.06. The index closed up three percent for the week, its best five-day performance since the week ending Jan. 4.

Intel led the Dow higher. Analysts at Jefferies & Co. said Intel may be able to increase its sales with power-efficient chips. Intel rose 81 cents, or 3.6 percent, to $23.44.

The Standard & Poor's 500 index rose 4.57 points, or 0.3 percent, to 1,687.99. The Nasdaq composite index rose 6.22 points, or 0.2 percent, to 3,722.18.

Traders had a few economic reports to work through. Americans increased their spending modestly in August, roughly 0.2 percent, the Commerce Department reported, however that was half of what economists expected.

The sales report was mixed. Shoppers spent more on cars, electronics and furniture, but they didn't buy much else. Last month, several retail chains including Nordstrom, Macy's and Wal-Mart cut their profit forecasts for the year.

The government also reported that wholesale prices rose 0.3 percent last month. Over the past year, prices have only gained 1.4 percent, a sign that inflation has remains modest. One thing driving wholesale prices higher was energy, which spiked as tensions with Syria and the U.S. escalated.

Trading was light as Wall Street headed into the weekend and the Jewish holiday of Yom Kippur.

Investors were looking ahead to the Federal Reserve's policy meeting on Sept. 17-18, when the central bank is expected to decide the future of its bond-buying program.

"There's a lot of 'wait and see' going on until the Fed meeting next week," said Frank Davis, director of sales and trading at LEK Securities.

The Fed is buying $85 billion in bonds each month, and the consensus among investors is that the central bank will decide to reduce its buying to about $75 billion or $80 billion a month. The question is not whether the Fed will cut back on its bond buying but by how much, said Scott Clemons, chief investment strategist with Brown Brothers Harriman Wealth Management.

The price of gold fell $22 to $1,308.60 an ounce. Oil slipped 39 cents to $108.21 a barrel. The yield on the 10-year Treasury note fell to 2.89 percent from 2.91 percent late Thursday.

September has been very strong for stocks so far. The Dow is up 3.8 percent and the S&P 500 has gained 3.4 percent.

In corporate news, Ulta Salon, Cosmetics & Fragrances surged $17.37, or 17 percent, to $117.50. The company reported a 28-percent increase in quarterly profit, thanks to stronger sales at its growing chain of stores.

Supermarket chain Safeway rose $1.61, or 6 percent, to $28.20 after analysts at Credit Suisse upgraded the stock to "outperform" from "underperform."

Galena Biopharma plunged 34 cents, or 14.9 percent, to $1.94 after the company sold 17.5 million shares of stock at $2 a share.

0979


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks are higher after former Treasury Secretary Larry Summers withdrew from the race to become head of the Federal Reserve.

Summers had been expected to move aggressively to rein in the Fed's huge economic stimulus program.

The Dow Jones industrial average rose 118 points, or 0.8 percent, to close at 15,494 Monday.

The Standard & Poor's 500 index rose nine points, or 0.6 percent, to 1,697.

The Nasdaq composite fell four points, or 0.1 percent, to 3,717, pulled down by Apple.

The president is expected to nominate Ben Bernanke's successor as early as this month. The current front-runner is Janet Yellen, the Fed's vice chair.

Two stocks rose for every one that fell on the New York Stock Exchange. Volume was average at 3 billion shares. 								

 *The NYSE DOW closed  	HIGHER ▲	118.72	points or ▲	0.77%	on	Monday, 16 September 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15494.78	▲	118.72	▲	0.77%		
	Nasdaq___	3717.85	▼	-4.34	▼	-0.12%		
	S&P_500__	1697.6	▲	9.61	▲	0.57%		
	30_Yr_Bond	3.871	▲	0.024	▲	0.62%		

NYSE Volume	 3,356,156,750 	 	 	 	 	  		 
Nasdaq Volume	 1,485,911,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6622.86	▲	33.88	▲	0.51%		
	DAX_____	8613	▲	103.58	▲	1.22%		
	CAC_40__	4152.22	▲	37.72	▲	0.92%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5241.7	▲	27	▲	0.52%		
	Shanghai_Comp	2231.4	▼	-4.82	▼	-0.22%		
	Taiwan_Weight	8255.34	▲	112.86	▲	1.39%		
	Nikkei_225____	14404.67	▲	17.4	▲	0.12%		
	Hang_Seng____	23252.41	▲	337.13	▲	1.47%		
	Strait_Times___	3179.48	▲	59.18	▲	1.90%		
	NZX_50_Index__	4693.62	▲	42.68	▲	0.92%		

http://finance.yahoo.com/news/stocks-rise-summers-exits-fed-200956355.html

*Stocks rise after Summers exits Fed race

Stocks rise after Summers exits race for Fed chairman; investors expect more stimulus*

Stocks are higher after former Treasury Secretary Larry Summers withdrew from the race to become head of the Federal Reserve.

Summers had been expected to move aggressively to rein in the Fed's huge economic stimulus program.

The Dow Jones industrial average rose 118 points, or 0.8 percent, to close at 15,494 Monday.

The Standard & Poor's 500 index rose nine points, or 0.6 percent, to 1,697.

The Nasdaq composite fell four points, or 0.1 percent, to 3,717, pulled down by Apple.

The president is expected to nominate Ben Bernanke's successor as early as this month. The current front-runner is Janet Yellen, the Fed's vice chair.

Two stocks rose for every one that fell on the New York Stock Exchange. Volume was average at 3 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks rose on Tuesday as investors shrugged off worries about what the Federal Reserve is up to.

Many expect the Fed to announce Wednesday that it will reduce its $85 billion monthly bond-buying program. Wall Street is hoping for a small reduction because the bond-buying has kept interest rates ultra-low and made it cheaper to borrow money.

The Dow Jones industrial average closed higher by 34.95 points, or 0.2 percent, at 15,529.73.

The Standard & Poor's 500 index rose 7.16 points, or 0.4 percent, to 1,704.76. The S&P 500 was five points below its record high reached on Aug. 2. It has risen for three trading days in a row, and 10 of the last 11.

The Nasdaq composite was up 27.85 points, or 0.8 percent, at 3,745.70; it had the biggest percentage gain of the three big indexes.

Nine out of 10 industry groups in the S&P 500 rose, led by technology. The only declines were for materials stocks, which include miners, industrial gas producers and metal refiners.

Rising tech stocks included the video game company Electronic Arts, which is getting a solid start with this year's version of its Madden football franchise. Electronic Arts rose 64 cents, or 2 percent, to $27.60.

Computer memory maker Micron Technology rose 40 cents, or 2 percent, to $16.84 as investors bet that memory prices will rise after a fire shut down a competitor's factory in China.

By some measures, stock market values are as high as they were at the end of the Internet bubble in 2000, when compared to the size of the nation's economy, said Martin Leclerc, a principal and chief investment officer at Barrack Yard Advisors in Bryn Mawr, Pa.

Then, there was at least the justification of new technology.

"Now, the only justification we have is cheap money," Leclerc said.

Nonetheless, Leclerc said, with a bull market underway stocks could keep climbing regardless of valuations. "This thing is a powerful beast," he said. The current bull market is four-and-a-half years old. 								

 *The NYSE DOW closed  	HIGHER ▲	34.95	points or ▲	0.23%	on	Tuesday, 17 September 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15529.73	▲	34.95	▲	0.23%		
	Nasdaq___	3745.7	▲	27.85	▲	0.75%		
	S&P_500__	1704.76	▲	7.16	▲	0.42%		
	30_Yr_Bond	3.84	▼	-0.031	▼	-0.80%		

NYSE Volume	 2,993,560,000 	 	 	 	 	  		 
Nasdaq Volume	 1,481,483,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6570.17	▼	-52.69	▼	-0.80%		
	DAX_____	8596.95	▼	-16.05	▼	-0.19%		
	CAC_40__	4145.51	▼	-6.71	▼	-0.16%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5245.2	▲	3.5	▲	0.07%		
	Shanghai_Comp	2185.56	▼	-45.84	▼	-2.05%		
	Taiwan_Weight	8249.78	▼	-5.56	▼	-0.07%		
	Nikkei_225____	14311.67	▼	-93	▼	-0.65%		
	Hang_Seng____	23180.52	▼	-71.89	▼	-0.31%		
	Strait_Times___	3180.92	▲	1.44	▲	0.05%		
	NZX_50_Index__	4698.03	▲	4.4	▲	0.09%		

http://finance.yahoo.com/news/stocks-higher-fed-kicks-off-141543953.html

*Stocks higher as Fed kicks off 2-day meeting

Stocks edge higher ahead of Federal Reserve meeting; S&P 500 headed for a third straight gain*

By Joshua Freed, AP Business Writer

Stocks rose on Tuesday as investors shrugged off worries about what the Federal Reserve is up to.

Many expect the Fed to announce Wednesday that it will reduce its $85 billion monthly bond-buying program. Wall Street is hoping for a small reduction because the bond-buying has kept interest rates ultra-low and made it cheaper to borrow money.

The Dow Jones industrial average closed higher by 34.95 points, or 0.2 percent, at 15,529.73.

The Standard & Poor's 500 index rose 7.16 points, or 0.4 percent, to 1,704.76. The S&P 500 was five points below its record high reached on Aug. 2. It has risen for three trading days in a row, and 10 of the last 11.

The Nasdaq composite was up 27.85 points, or 0.8 percent, at 3,745.70; it had the biggest percentage gain of the three big indexes.

Nine out of 10 industry groups in the S&P 500 rose, led by technology. The only declines were for materials stocks, which include miners, industrial gas producers and metal refiners.

Rising tech stocks included the video game company Electronic Arts, which is getting a solid start with this year's version of its Madden football franchise. Electronic Arts rose 64 cents, or 2 percent, to $27.60.

Computer memory maker Micron Technology rose 40 cents, or 2 percent, to $16.84 as investors bet that memory prices will rise after a fire shut down a competitor's factory in China.

By some measures, stock market values are as high as they were at the end of the Internet bubble in 2000, when compared to the size of the nation's economy, said Martin Leclerc, a principal and chief investment officer at Barrack Yard Advisors in Bryn Mawr, Pa.

Then, there was at least the justification of new technology.

"Now, the only justification we have is cheap money," Leclerc said.

Nonetheless, Leclerc said, with a bull market underway stocks could keep climbing regardless of valuations. "This thing is a powerful beast," he said. The current bull market is four-and-a-half years old.

The Labor Department reported on Tuesday that U.S consumer prices barely rose last month, another sign that slow economic growth is keeping inflation low. That pushed the yield on the benchmark 10-year Treasury note down slightly, to 2.85 percent from 2.86 percent late Monday.

Rising profits "support stock prices where they are, and could support, going into 2014, prices going a little higher," said Jim Dunigan, managing executive of investments for PNC Wealth Management in Philadelphia.

"Most, if not all, the evidence would suggest the economy is improving," he said.

A few companies benefited from large investments.

Safeway, a major grocery store chain, jumped $2.95, or more than 10 percent, to $30.99 after saying an unnamed investor had bought a significant amount of its stock. Safeway said it adopted a "poison-pill" defense measure to thwart any hostile takeover attempt.

Aeropostale jumped $1.56, or 18 percent, to $10.17 after Sycamore Partners disclosed an 8 percent stake in the teen retailer. And Huntsman, a chemical maker, rose 36 cents, or 2 percent, to $19.50 after saying it will pay $1.1 billion for two businesses from Rockwood Holdings, which rose 60 cents, or 2 percent, to $67.21.

Other companies making big moves included:

”” Abercrombie & Fitch rode Aeropostale's coattails, moving up $1.09, or 3 percent, to $38.43.

”” Microsoft rose after announcing a 22 percent dividend increase and a $40 billion stock buyback program. Microsoft gained 13 cents, or 0.4 percent, to $32.93, after going as high as $33.47 in the morning.

”” Boeing rose $1.44, or 1.2 percent, to $117.11 as a stretched version of its new 787 flew for the first time. Boeing's gain was responsible for one-third of the Dow's rise.

”” Outerwall, which owns the Redbox DVD kiosks, plunged $6.48, or almost 12 percent, to $49.49 after slashing its outlook because of weaker-than-expected demand for discs.

The price of crude oil fell $1.17, or 1.1 percent, to close at $105.42 a barrel in New York.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market hit a record high Wednesday as investors cheered the Federal Reserve's surprise decision to keep its economic stimulus program in place.

Stocks traded slightly lower throughout the morning, but took off immediately after the Fed's decision in the early afternoon. Bond yields fell sharply ”” their biggest move in nearly two years. The price of gold had its biggest one-day jump in four years as traders anticipated that the Fed's decision might cause inflation.

Fed policymakers decided to maintain the central bank's $85 billion in monthly bond buying, a program that had been in place in one form or another since late 2008. The buying is designed to keep interest rates low to spur economic growth, and has fueled a four-and-a-half-year bull run in stocks.

While the U.S. economy appeared to be improving, the bank's policymakers "decided to await more evidence that progress will be sustained" before deciding to slow bond purchases. The bank also cut its full-year economic outlook for this year and the next.

Stock traders completely shrugged off the Fed's dimmer outlook and focused on the continued stimulus.

The S&P 500 surged 20.76 points, or 1.2 percent, to 1,725.52, slicing through its previous all-time high of 1,709.67 set on Aug. 2.

The Dow Jones industrial average jumped 147.21 points, or 1 percent, to 15,676.94, also above its previous record high of 15,658 from Aug. 2.

The Nasdaq composite rose 37.94 points, 1 percent, to 3,783.64.

The fate of the Fed's economic stimulus program has been the biggest question on Wall Street for months. It was widely expected that the Fed would cut back on its bond buying at the September meeting.

Tom di Galoma, a bond trader at ED&F Man Capital, said he was "completely shocked" that the Fed decided to wait.

Some investors advised caution, even as the stock market hit all-time highs.

While the Fed's decision is positive for the market in the short term, "investors need to take a step back and consider the idea that maybe the U.S economy is on weaker footing than we originally thought," said Marc Doss, regional chief investment officer for Wells Fargo Private Bank. 								

 *The NYSE DOW closed  	HIGHER ▲	147.21	points or ▲	0.95%	on	Wednesday, 18 September 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15676.94	▲	147.21	▲	0.95%		
	Nasdaq___	3783.64	▲	37.94	▲	1.01%		
	S&P_500__	1725.52	▲	20.76	▲	1.22%		
	30_Yr_Bond	3.75	▼	-0.09	▼	-2.21%		

NYSE Volume	 4,410,941,500 	 	 	 	 	  		 
Nasdaq Volume	 1,789,865,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6558.82	▼	-11.35	▼	-0.17%		
	DAX_____	8636.06	▲	39.11	▲	0.45%		
	CAC_40__	4170.4	▲	24.89	▲	0.60%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5230.4	▼	-14.8	▼	-0.28%		
	Shanghai_Comp	2191.85	▲	6.29	▲	0.29%		
	Taiwan_Weight	8209.18	▼	-40.6	▼	-0.49%		
	Nikkei_225____	14505.36	▲	193.69	▲	1.35%		
	Hang_Seng____	23117.45	▼	-63.07	▼	-0.27%		
	Strait_Times___	3193.85	▲	12.93	▲	0.41%		
	NZX_50_Index__	4703.83	▲	5.8	▲	0.12%		

http://finance.yahoo.com/news/stock-market-sets-record-fed-204754571.html

*Stock market sets record after Fed keeps stimulus

Stock market sets all-time high after Federal Reserve decides to continue economic stimulus*

By Ken Sweet, AP Markets Writer

The stock market hit a record high Wednesday as investors cheered the Federal Reserve's surprise decision to keep its economic stimulus program in place.

Stocks traded slightly lower throughout the morning, but took off immediately after the Fed's decision in the early afternoon. Bond yields fell sharply ”” their biggest move in nearly two years. The price of gold had its biggest one-day jump in four years as traders anticipated that the Fed's decision might cause inflation.

Fed policymakers decided to maintain the central bank's $85 billion in monthly bond buying, a program that had been in place in one form or another since late 2008. The buying is designed to keep interest rates low to spur economic growth, and has fueled a four-and-a-half-year bull run in stocks.

While the U.S. economy appeared to be improving, the bank's policymakers "decided to await more evidence that progress will be sustained" before deciding to slow bond purchases. The bank also cut its full-year economic outlook for this year and the next.

Stock traders completely shrugged off the Fed's dimmer outlook and focused on the continued stimulus.

The S&P 500 surged 20.76 points, or 1.2 percent, to 1,725.52, slicing through its previous all-time high of 1,709.67 set on Aug. 2.

The Dow Jones industrial average jumped 147.21 points, or 1 percent, to 15,676.94, also above its previous record high of 15,658 from Aug. 2.

The Nasdaq composite rose 37.94 points, 1 percent, to 3,783.64.

The fate of the Fed's economic stimulus program has been the biggest question on Wall Street for months. It was widely expected that the Fed would cut back on its bond buying at the September meeting.

Tom di Galoma, a bond trader at ED&F Man Capital, said he was "completely shocked" that the Fed decided to wait.

Some investors advised caution, even as the stock market hit all-time highs.

While the Fed's decision is positive for the market in the short term, "investors need to take a step back and consider the idea that maybe the U.S economy is on weaker footing than we originally thought," said Marc Doss, regional chief investment officer for Wells Fargo Private Bank.

Bond prices also rose sharply, sending yields lower. The yield on the 10-year Treasury note fell to 2.68 percent ”” from 2.87 percent a minute before the Fed released its statement. It was rush into bonds by investors not seen since October 2011. That yield is a benchmark for many kinds of lending rates, including home mortgages.

As bond yields plunged, investors snapped up stocks that tend to pay richer dividends, such as utilities. The Dow Jones utility average jumped 3 percent, its best day in two years.

Home builder stocks also rose as investors speculated that the Fed's pledge to keep interest rates low would continue to benefit the housing market. Pulte Homes, Hovnanian and Toll Brothers were up more than five percent each, while homebuilder D.R. Horton jumped nearly seven percent.

The price of gold jumped $55, or 4 percent, to $1,364 an ounce.

In June, Fed Chairman Ben Bernanke laid out a plan to start easing up on the bond purchases, and pledged to end them by the middle of 2014, if the economy continued to improve.

The Fed's next meeting is October 29-30 ”” another opportunity for the central bank to start reducing the program.

Wells Fargo's Doss and other investors said the Fed might be waiting to see what happens in Washington, D.C. in the coming weeks. A debate over the debt ceiling and a showdown between Congressional Republicans and the White House over the budget looms.

Bernanke probably kept the stimulus in place because he wanted to be certain the economy was ready to function without the Fed's help, said Matt Tom, head of public fixed income at ING U.S. Investment Management.

Cutting back before the economy was ready would have been much more destabilizing to the market, he said.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market paused Thursday as investors tried to figure out what to do next following the Federal Reserve's decision to hold steady on its stimulus for the economy.

The Dow Jones industrial average and Standard & Poor's 500 index pulled back from their record highs the day before. Gold, historically a haven for nervous investors, had its biggest one-day jump since the onset of the financial crisis in September 2008.

Many investors had expected the central bank scale back its $85 billion in monthly bond purchases, but the Fed said it first needed to see more evidence that the economy was improving.

The question now is whether stocks can continue their strong run-up given the Fed's dimmer outlook on the economy. The stock market is up 21 percent for the year, and 155 percent since a recession low in March 2009. And, after a tough August, the S&P 500 has risen 11 of the last 13 days.

Wednesday's rally extended that surge, but raised a deeper concern for Julius Ridgeway, an investment adviser at Medley Brown, a financial-advisory firm in Jackson, Miss.

Ridgeway said the rally showed that investors believe the economy still needs Fed's help, even after more than two years of modest economic growth.

"The market wants the economy to be healthy and on life support, and it can't have both over the long term," he said.

The Fed's bond buying is designed to keep interest rates low, with the goal of stimulating the economy by encouraging borrowing and lending.

Chairman Ben Bernanke and other voting members of the Fed telegraphed throughout the summer that the central bank was considering pulling back on the program, if the economy was healthy enough.

Now, with the Fed delaying its pullback, the market could enter a new period of uncertainty, rarely good for sustaining a stock rally.

The market is back to its mentality in May, when investors were trying to parse every data point from the Fed to figure out what it was planning to do, said Wayne Wilbanks, chief investment officer at Wilbanks, Smith, Thomas in Norfolk, Va., who manages about $2.4 billion in assets.

"The Fed buttered the market up. It was a done deal," he said. "It was a huge policy mistake."

The Fed also cut its economic growth forecasts for this year and 2014. Bernanke warned that the upcoming debt ceiling and budget fights between the White House and Congress "may involve additional risks to financial markets and to the broader economy."

On Thursday, the Standard & Poor's 500 index fell three points, or 0.2 percent, to 1,722.34. The Dow Jones industrial average slipped 40 points, or 0.3 percent, to 15,636.55.

The Nasdaq composite index rose six points, or 0.2 percent, to 3,789.38, helped by Apple's stock price.

The price of gold surged $61.70, or 4.7 percent, to $1,369.30 an ounce.

The yield on the 10-year Treasury note rose to 2.75 percent from 2.69 percent late Wednesday.

Despite Thursday's minor pull back, September has been great for the market. Stocks are on pace to have their best month in nearly two years. 								

 *The NYSE DOW closed  	LOWER ▼	-40.39	points or ▼	-0.26%	on	Thursday, 19 September 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15636.55	▼	-40.39	▼	-0.26%		
	Nasdaq___	3789.38	▲	5.74	▲	0.15%		
	S&P_500__	1722.34	▼	-3.18	▼	-0.18%		
	30_Yr_Bond	3.805	▲	0.05	▲	1.33%		

NYSE Volume	 4,047,692,750 	 	 	 	 	  		 
Nasdaq Volume	 1,742,764,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6625.39	▲	66.57	▲	1.01%		
	DAX_____	8694.18	▲	58.12	▲	0.67%		
	CAC_40__	4206.04	▲	35.64	▲	0.85%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5288.6	▲	58.2	▲	1.11%		
	Shanghai_Comp	2191.85	▲	6.29	▲	0.29%		
	Taiwan_Weight	8209.18	▼	-40.6	▼	-0.49%		
	Nikkei_225____	14766.18	▲	260.82	▲	1.80%		
	Hang_Seng____	23502.51	▲	385.06	▲	1.67%		
	Strait_Times___	3251.78	▲	57.93	▲	1.81%		
	NZX_50_Index__	4753.04	▲	49.21	▲	1.05%		

http://finance.yahoo.com/news/stock-market-slips-record-setting-202626417.html

*Stock market slips after record-setting day

Stock market slips after record-setting day; Gold surges*

By Ken Sweet, AP Markets Writer 

The stock market paused Thursday as investors tried to figure out what to do next following the Federal Reserve's decision to hold steady on its stimulus for the economy.

The Dow Jones industrial average and Standard & Poor's 500 index pulled back from their record highs the day before. Gold, historically a haven for nervous investors, had its biggest one-day jump since the onset of the financial crisis in September 2008.

Many investors had expected the central bank scale back its $85 billion in monthly bond purchases, but the Fed said it first needed to see more evidence that the economy was improving.

The question now is whether stocks can continue their strong run-up given the Fed's dimmer outlook on the economy. The stock market is up 21 percent for the year, and 155 percent since a recession low in March 2009. And, after a tough August, the S&P 500 has risen 11 of the last 13 days.

Wednesday's rally extended that surge, but raised a deeper concern for Julius Ridgeway, an investment adviser at Medley Brown, a financial-advisory firm in Jackson, Miss.

Ridgeway said the rally showed that investors believe the economy still needs Fed's help, even after more than two years of modest economic growth.

"The market wants the economy to be healthy and on life support, and it can't have both over the long term," he said.

The Fed's bond buying is designed to keep interest rates low, with the goal of stimulating the economy by encouraging borrowing and lending.

Chairman Ben Bernanke and other voting members of the Fed telegraphed throughout the summer that the central bank was considering pulling back on the program, if the economy was healthy enough.

Now, with the Fed delaying its pullback, the market could enter a new period of uncertainty, rarely good for sustaining a stock rally.

The market is back to its mentality in May, when investors were trying to parse every data point from the Fed to figure out what it was planning to do, said Wayne Wilbanks, chief investment officer at Wilbanks, Smith, Thomas in Norfolk, Va., who manages about $2.4 billion in assets.

"The Fed buttered the market up. It was a done deal," he said. "It was a huge policy mistake."

The Fed also cut its economic growth forecasts for this year and 2014. Bernanke warned that the upcoming debt ceiling and budget fights between the White House and Congress "may involve additional risks to financial markets and to the broader economy."

On Thursday, the Standard & Poor's 500 index fell three points, or 0.2 percent, to 1,722.34. The Dow Jones industrial average slipped 40 points, or 0.3 percent, to 15,636.55.

The Nasdaq composite index rose six points, or 0.2 percent, to 3,789.38, helped by Apple's stock price.

The price of gold surged $61.70, or 4.7 percent, to $1,369.30 an ounce.

The yield on the 10-year Treasury note rose to 2.75 percent from 2.69 percent late Wednesday.

Despite Thursday's minor pull back, September has been great for the market. Stocks are on pace to have their best month in nearly two years.

The Dow set an all-time high of 15,767.93 on Wednesday following the Fed's decision. The S&P also closed at a record high ”” 1,725.52

However, Wilbanks and other investors believe the market cannot go much higher, particularly with an uncertain earnings season starting in a few weeks and the looming political fights in Washington.

"We're being very careful about U.S. equities," he said.


----------



## bigdog

Source: http://finance.yahoo.com 

Washington's budget fight jolted investors on Friday, reminding them that the next few weeks could bring a lot of uncertainty. Wall Street hates uncertainty.

Stocks fell in an afternoon sell-off that wiped out most of the gains from a rally earlier this week, when the Federal Reserve decided to keep its huge economic stimulus program intact.

Major indexes were mixed in morning trading, but turned lower around midday after the U.S. House of Representatives voted to defund President Barack Obama's health care law.

The vote itself wasn't a surprise, but it reminded investors that the Republican-led House and the Democratic-controlled Senate are poised for a showdown over federal spending.

The debt ceiling must be raised by Oct. 1 to avoid a government shutdown, and a potential default on payments, including debt, later in the month.

The threat of a default in August 2011 helped send global stock markets into a tailspin.

"What we've done is basically committed ourselves to two weeks of worry," said Sam Stovall, chief equity strategist at S&P Capital IQ.

Until now, September defied the worriers. The stock market has bounced backed from an August swoon, despite a calendar loaded with potential rally killers.

Fears of a conflict with Syria have faded, and Wall Street cheered when Larry Summers withdrew his name as a candidate to replace Federal Reserve chairman Ben Bernanke.

Summers, a former Treasury secretary, was viewed as more likely to rein in the Fed's stimulus program, which has kept interest rates low and boosted corporate profits.

As Middle East strife recedes from investors' minds, though, fears of budget gridlock grow.

"Geopolitics ... is much lower on the list. It's not off the list" of investor worries, said David Darst, chief investment strategist for Morgan Stanley Wealth Management. "No. 1 becomes the debt ceiling and the federal spending debate."

The Dow Jones industrial average dropped 185.46 points, or 1.2 percent, to close at 15,451.09. That was 225 points below its all-time closing high reached Sept. 18 after the Fed's announcement.

The Standard & Poor's 500 index fell 12.43 points, or 0.7 percent, to 1,709.91. All 10 industry groups in the S&P 500 fell, led lower by telecom companies and utilities.								

 *The NYSE DOW closed  	LOWER ▼	-185.46	points or ▼	-1.19%	on	Friday, 20 September 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15451.09	▼	-185.46	▼	-1.19%		
	Nasdaq___	3774.73	▼	-14.66	▼	-0.39%		
	S&P_500__	1709.91	▼	-12.43	▼	-0.72%		
	30_Yr_Bond	3.76	▼	-0.045	▼	-1.18%		

NYSE Volume	 5,376,564,500 	 	 	 	 	  		 
Nasdaq Volume	 2,680,678,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6596.43	▼	-28.96	▼	-0.44%		
	DAX_____	8675.73	▼	-18.45	▼	-0.21%		
	CAC_40__	4203.66	▼	-2.38	▼	-0.06%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5270.8	▼	-17.8	▼	-0.34%		
	Shanghai_Comp	2191.85	▲	6.29	▲	0.29%		
	Taiwan_Weight	8209.18	▼	-40.6	▼	-0.49%		
	Nikkei_225____	14742.42	▼	-23.76	▼	-0.16%		
	Hang_Seng____	23502.51	▲	385.06	▲	1.67%		
	Strait_Times___	3237.53	▼	-14.25	▼	-0.44%		
	NZX_50_Index__	4730.38	▼	-22.66	▼	-0.48%		

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Stocks fall as investors fret over budget fight

Stocks fall as Washington budget fight becomes new No. 1 worry*

By Joshua Freed, AP Business Writer

Washington's budget fight jolted investors on Friday, reminding them that the next few weeks could bring a lot of uncertainty. Wall Street hates uncertainty.

Stocks fell in an afternoon sell-off that wiped out most of the gains from a rally earlier this week, when the Federal Reserve decided to keep its huge economic stimulus program intact.

Major indexes were mixed in morning trading, but turned lower around midday after the U.S. House of Representatives voted to defund President Barack Obama's health care law.

The vote itself wasn't a surprise, but it reminded investors that the Republican-led House and the Democratic-controlled Senate are poised for a showdown over federal spending.

The debt ceiling must be raised by Oct. 1 to avoid a government shutdown, and a potential default on payments, including debt, later in the month.

The threat of a default in August 2011 helped send global stock markets into a tailspin.

"What we've done is basically committed ourselves to two weeks of worry," said Sam Stovall, chief equity strategist at S&P Capital IQ.

Until now, September defied the worriers. The stock market has bounced backed from an August swoon, despite a calendar loaded with potential rally killers.

Fears of a conflict with Syria have faded, and Wall Street cheered when Larry Summers withdrew his name as a candidate to replace Federal Reserve chairman Ben Bernanke.

Summers, a former Treasury secretary, was viewed as more likely to rein in the Fed's stimulus program, which has kept interest rates low and boosted corporate profits.

As Middle East strife recedes from investors' minds, though, fears of budget gridlock grow.

"Geopolitics ... is much lower on the list. It's not off the list" of investor worries, said David Darst, chief investment strategist for Morgan Stanley Wealth Management. "No. 1 becomes the debt ceiling and the federal spending debate."

The Dow Jones industrial average dropped 185.46 points, or 1.2 percent, to close at 15,451.09. That was 225 points below its all-time closing high reached Sept. 18 after the Fed's announcement.

The Standard & Poor's 500 index fell 12.43 points, or 0.7 percent, to 1,709.91. All 10 industry groups in the S&P 500 fell, led lower by telecom companies and utilities.

Even with the decline, the S&P 500 index is up 4.8 percent for the month, and 20 percent this year.

In corporate news, BlackBerry plunged $1.79, or 17 percent, to $8.72 on the Nasdaq after announcing a loss of nearly $1 billion and layoffs of 4,500 workers. The company's phones have been eclipsed by phones from Apple and Samsung.

Apple fell $4.89, or 1 percent, to close at $467.40 as its newest iPhone debuted at stores.

Darden, the struggling parent of Olive Garden and Red Lobster, fell $3.52, or 7 percent, to $45.78 after posting a much lower quarterly profit and saying its president and chief operating officer will retire. Sales fell at its two flagship restaurant chains despite efforts to renew menus and advertising.

Two new stocks had strong debuts. Tech security company FireEye surged $16, or 80 percent, to end at $36, and artificial intelligence company Rocket Fuel rose $27, or 93 percent, to $56.10.

The yield on the 10-year Treasury note fell to 2.74 percent, from 2.76 percent on Thursday.

1493


----------



## bigdog

Source: http://finance.yahoo.com 

Concerns about the strength of the economy and the potential for a budget fight in Washington pushed down the stock market Monday.

The Dow Jones industrial average and the Standard & Poor's 500 index fell for a third straight day.

Investors initially cheered the Federal Reserve's decision last Wednesday to keep its huge stimulus program in place. But they've since focused on the central bank's gloomier outlook for growth.

William Dudley, the President of the Fed's New York Branch said Monday that while the economy was improving, "the headwinds" created by the financial crisis were only easing slowly.

"At first blush (the stimulus) looks positive," said Kate Warne, an investment strategist at Edward Jones, a financial advisor. "But at second blush, it says conditions weren't as strong as we were previously thinking. Markets are now responding to that."

The Dow jumped 147 points last Wednesday to close at an all-time high. But the gain from that rally has been erased.

On Monday, the S&P 500 index dropped 8.07 points, or 0.5 percent, to close at 1,701.84. The index was fractionally lower than its level before the Fed's decision last Wednesday.

The Dow fell 49.71 points, or 0.3 percent, to 15,401.38 The Nasdaq composite fell 9.44 points, or 0.3 percent, to 3,765.29.

Financial stocks fell the most among the 10 industrial groups in the S&P 500 index. Investors sold financial stocks on concerns that their earnings would be hurt by lower trading volumes of bonds and foreign currencies.

Utilities were the best performing industry group in the S&P 500 index, as investors sought less risky places to put their money.

The threat of a looming political showdown over the budget also weighed on investors. 	

The debt ceiling must be raised by Oct. 1 to avoid a government shutdown, and a potential default on payments, including debt, later in the month.							

 *The NYSE DOW closed  	LOWER ▼	-49.71	points or ▼	-0.32%	on	Monday, 23 September 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15401.38	▼	-49.71	▼	-0.32%		
	Nasdaq___	3765.29	▼	-9.44	▼	-0.25%		
	S&P_500__	1701.84	▼	-8.07	▼	-0.47%		
	30_Yr_Bond	3.742	▼	-0.018	▼	-0.48%		

NYSE Volume	 3,429,507,000 	 	 	 	 	  		 
Nasdaq Volume	 1,696,822,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6557.37	▼	-39.06	▼	-0.59%		
	DAX_____	8635.29	▼	-40.44	▼	-0.47%		
	CAC_40__	4172.08	▼	-31.58	▼	-0.75%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5245.8	▼	-25	▼	-0.47%		
	Shanghai_Comp	2221.04	▲	29.19	▲	1.33%		
	Taiwan_Weight	8292.83	▲	83.65	▲	1.02%		
	Nikkei_225____	14742.42	▼	-23.76	▼	-0.16%		
	Hang_Seng____	23371.54	▼	-130.97	▼	-0.56%		
	Strait_Times___	3214.25	▼	-23.28	▼	-0.72%		
	NZX_50_Index__	4701.37	▼	-29	▼	-0.61%		

http://finance.yahoo.com/news/stocks-fall-concern-economy-budget-195903953.html

*Stocks fall on concern about economy, budget fight

US stocks fall as investors weigh economy and looming budget fight; banks lead drop*

By Steve Rothwell, Markets Writer

Concerns about the strength of the economy and the potential for a budget fight in Washington pushed down the stock market Monday.

The Dow Jones industrial average and the Standard & Poor's 500 index fell for a third straight day.

Investors initially cheered the Federal Reserve's decision last Wednesday to keep its huge stimulus program in place. But they've since focused on the central bank's gloomier outlook for growth.

William Dudley, the President of the Fed's New York Branch said Monday that while the economy was improving, "the headwinds" created by the financial crisis were only easing slowly.

"At first blush (the stimulus) looks positive," said Kate Warne, an investment strategist at Edward Jones, a financial advisor. "But at second blush, it says conditions weren't as strong as we were previously thinking. Markets are now responding to that."

The Dow jumped 147 points last Wednesday to close at an all-time high. But the gain from that rally has been erased.

On Monday, the S&P 500 index dropped 8.07 points, or 0.5 percent, to close at 1,701.84. The index was fractionally lower than its level before the Fed's decision last Wednesday.

The Dow fell 49.71 points, or 0.3 percent, to 15,401.38 The Nasdaq composite fell 9.44 points, or 0.3 percent, to 3,765.29.

Financial stocks fell the most among the 10 industrial groups in the S&P 500 index. Investors sold financial stocks on concerns that their earnings would be hurt by lower trading volumes of bonds and foreign currencies.

Citigroup fell $1.64, or 3 percent, to $49.57 after the Financial Times reported that the bank had suffered a "significant decline" in trading revenues that would crimp its earnings.

Goldman Sachs, which began trading on the Dow Monday, also fell. The stock slipped $4.50, or 3 percent, to $165.20.

Utilities were the best performing industry group in the S&P 500 index, as investors sought less risky places to put their money.

The threat of a looming political showdown over the budget also weighed on investors.

The U.S. House of Representatives voted to defund President Barack Obama's health care law on Friday, a gesture that reminded Wall Street that the Republican-led House and the Democratic-controlled Senate are poised for a showdown over spending.

The debt ceiling must be raised by Oct. 1 to avoid a government shutdown, and a potential default on payments, including debt, later in the month.

"There seems to be a higher probability there will be more of a battle over that," said Scott Wren a senior equity strategist at Wells Fargo Advisors. "That could inject some volatility into the market."

Apple rose the most in the S&P 500 after the company said shopers snapped up 9 million of its newest iPhones following a rollout of the devices on Friday. The company's stock climbed $23.23, or 5 percent, to $490.60.

Shares of the troubled smartphone maker Blackberry rose 1.1 percent to $8.82 after financial company Fairfax Financial Holdings offered to buy the company in a deal valued at $4.7 billion.

The company's stock had been trading about 5 percent lower before the deal was announced. Blackberry plunged Friday after the company announced a loss of nearly $1 billion and layoffs of 4,500 workers.

Nike and Visa, along with Goldman, also began trading on the 30-member Dow on Monday. They replace Alcoa, Bank of America and Hewlett-Packard. The changes won't disrupt the level of the Dow.

The blue-chip index is up 17.5 percent this year, while the S&P 500 is up 19 percent. If the S&P 500 closed the year at its current level, it would log its best gain since 2009, when it rose 23 percent.

In government bond trading, the yield on the 10-year Treasury note fell to 2.70 from 2.74 percent late Friday.

In commodities trading, the price of oil fell $1.16, or 1.1 percent, to $103.59 a barrel. The price of gold fell $5.50, or 0.4 percent, to $1,327 an ounce.

The dollar rose against the euro and fell against the Japanese yen.


----------



## bigdog

Source: http://finance.yahoo.com 

Wall Street couldn't shrug off doubts about the economy and government gridlock on Tuesday.

Mixed economic reports and concern about a government shutdown dragged stocks lower in the final half-hour of trading. They had been positive most of the day.

The modest losses extended the losing streak for the Standard & Poor's 500 index to four days. It was the longest run of declines in a month. The Dow Jones industrial average also dropped for a fourth straight day.

Investors struggled with conflicting news about the economy on Tuesday. One report showed that home prices in July rose the most in more than seven years. Another showed that Americans' confidence in the economy slipped in September.

Investors are searching for direction after the Federal Reserve's surprise decision last Wednesday to keep its stimulus program intact. They had expected a reduction in the Fed's $85 billion in monthly bond purchases. Investors are now parsing economic reports and comments from Fed officials to gauge the central bank's next move.

Some are also nervous about political gridlock in Washington. They were concerned that the federal government could shut down because Washington lawmakers appear to be making little progress in budget talks.

"A government shutdown starting next week is looking increasingly likely," said Jim Russell, a regional investment director at U.S. Bank. "That will not be welcomed by the capital markets."

But Brad Sorensen, director of market and sector research at Charles Schwab, thought that worries about a government shutdown would ultimately be short-lived.

"Investors are becoming a little bit immune to the games that Washington has started to play," Sorensen said. "Investors with a stronger stomach should probably buy the dip."

Stocks, for example, plummeted in the summer of 2011 as lawmakers wrangled about raising the debt ceiling. The market also sagged in October last year before the Presidential elections, on concerns that a divided government would be unable to agree on tax reform. Each time though, backed by the Fed's economic stimulus, the market came back stronger.

After falling 2 percent in October of last year, the Standard & Poor's 500 index rose for seven straight months, gaining 15 percent.

On Tuesday, the Dow closed down 66 points, 0.4 percent, to 15,334. The S&P 500 index fell four points, or 0.3 percent, to 1,697. The Nasdaq composite, however, edged up three points, or 0.1 percent, to 3,768.

Stocks edged lower in early trading before moving modestly higher in the late morning and afternoon. Those gains then fizzled out at the end of trading. 

They S&P 500 index is just 28 points below its all-time high reached last Wednesday, when investors were initially thrilled that the Fed extended its economic stimulus. Since then, the market has fallen each day as doubts emerge about the outlook for the economy, and budget negotiations. 								

 *The NYSE DOW closed  	LOWER ▼	-66.79	points or ▼	-0.43%	on	Tuesday, 24 September 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15334.59	▼	-66.79	▼	-0.43%		
	Nasdaq___	3768.25	▲	2.97	▲	0.08%		
	S&P_500__	1697.42	▼	-4.42	▼	-0.26%		
	30_Yr_Bond	3.67	▼	-0.07	▼	-1.87%		

NYSE Volume	 3,559,487,250 	 	 	 	 	  		 
Nasdaq Volume	 1,784,987,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6571.46	▲	14.09	▲	0.21%		
	DAX_____	8664.6	▲	29.31	▲	0.34%		
	CAC_40__	4195.61	▲	23.53	▲	0.56%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5229.5	▼	-16.3	▼	-0.31%		
	Shanghai_Comp	2207.53	▼	-13.51	▼	-0.61%		
	Taiwan_Weight	8299.12	▲	6.29	▲	0.08%		
	Nikkei_225____	14732.61	▼	-9.81	▼	-0.07%		
	Hang_Seng____	23179.04	▼	-192.5	▼	-0.82%		
	Strait_Times___	3212.19	▼	-2.06	▼	-0.06%		
	NZX_50_Index__	4710.59	▲	9.21	▲	0.20%		

http://finance.yahoo.com/news/stocks-fall-fourth-day-210704066.html

*Stocks fall for a fourth day

Stocks fall for a fourth day as investors worry about Washington and try to figure out the Fed*

By Steve Rothwell, Markets Writer

Wall Street couldn't shrug off doubts about the economy and government gridlock on Tuesday.

Mixed economic reports and concern about a government shutdown dragged stocks lower in the final half-hour of trading. They had been positive most of the day.

The modest losses extended the losing streak for the Standard & Poor's 500 index to four days. It was the longest run of declines in a month. The Dow Jones industrial average also dropped for a fourth straight day.

Investors struggled with conflicting news about the economy on Tuesday. One report showed that home prices in July rose the most in more than seven years. Another showed that Americans' confidence in the economy slipped in September.

Investors are searching for direction after the Federal Reserve's surprise decision last Wednesday to keep its stimulus program intact. They had expected a reduction in the Fed's $85 billion in monthly bond purchases. Investors are now parsing economic reports and comments from Fed officials to gauge the central bank's next move.

Some are also nervous about political gridlock in Washington. They were concerned that the federal government could shut down because Washington lawmakers appear to be making little progress in budget talks.

"A government shutdown starting next week is looking increasingly likely," said Jim Russell, a regional investment director at U.S. Bank. "That will not be welcomed by the capital markets."

But Brad Sorensen, director of market and sector research at Charles Schwab, thought that worries about a government shutdown would ultimately be short-lived.

"Investors are becoming a little bit immune to the games that Washington has started to play," Sorensen said. "Investors with a stronger stomach should probably buy the dip."

Stocks, for example, plummeted in the summer of 2011 as lawmakers wrangled about raising the debt ceiling. The market also sagged in October last year before the Presidential elections, on concerns that a divided government would be unable to agree on tax reform. Each time though, backed by the Fed's economic stimulus, the market came back stronger.

After falling 2 percent in October of last year, the Standard & Poor's 500 index rose for seven straight months, gaining 15 percent.

On Tuesday, the Dow closed down 66 points, 0.4 percent, to 15,334. The S&P 500 index fell four points, or 0.3 percent, to 1,697. The Nasdaq composite, however, edged up three points, or 0.1 percent, to 3,768.

Stocks edged lower in early trading before moving modestly higher in the late morning and afternoon. Those gains then fizzled out at the end of trading.

Phone company stocks were the biggest decliners among the 10 industry groups that form the S&P 500. Industrial stocks were the biggest gainers.

Before the market opened, a survey showed that home prices rose the most since February 2006. A revival in housing has been one of the bright spots for the economy.

In another key economic gauge, the Conference Board, a New York-based private research group, said that its consumer confidence index dropped to 79.7 in September, down from August's 81.8.

Consumers' confidence is closely watched because their spending accounts for 70 percent of U.S. economic activity. Confidence has grown since the Great Recession, but it hasn't hit a reading of 90, which typically accompanies a healthy economy.

They S&P 500 index is just 28 points below its all-time high reached last Wednesday, when investors were initially thrilled that the Fed extended its economic stimulus. Since then, the market has fallen each day as doubts emerge about the outlook for the economy, and budget negotiations.

In government bond trading, the yield on the 10-year Treasury note rose fell as investors bought bonds. The yield dropped from 2.70 percent late Monday to 2.66 percent, its lowest level in six weeks. The yield on the note is a benchmark for rates of consumer loans.

Among stocks making big moves:

”” Software company Red Hat fell $6.20, or 12 percent, to $46.73 after it reported lower-than-expected quarterly billings and issued disappointing revenue forecasts.

””Carnival fell $2.86, or 8 percent, to $34.54 after the cruise ship operator warned revenue could drop more than its prior forecast.

”” Applied Materials, a manufacturer of chip-making equipment, rose $1.45, or 9 percent, to $17.45 after it agreed to acquire a rival.

”” Facebook rose $1.26, or 3 percent, to $48.45 after Citigroup upgraded the company's stock to a "buy" recommendation from "neutral." Facebook should continue to grow, helped by increasing advertising revenue contributions from its mobile website, Citigroup said.


----------



## bigdog

Source: http://finance.yahoo.com 

Wal-Mart spooked the stock market Wednesday ”” helping push stocks lower for a fifth straight day.

The Dow Jones industrial average fell 61 points, or 0.4 percent, to 15,273.26. The Dow was dragged down by Wal-Mart after Bloomberg News reported that the world's biggest retailer is cutting orders with suppliers as unsold merchandise piles up.

Wal-Mart spokesman Dave Tovar said the report was misleading and that in some categories, the discounter was ordering more, and in other areas it was ordering less.

"This is business as usual," Tovar said, noting that it was part of an ongoing process of managing the seasonality of the business based on consumer demand.

Wal-Mart fell $1.10, or 1.5 percent, to $74.65, taking the rest of the market with it.

The Standard & Poor's 500 index fell five points, or 0.3 percent, to 1,692.77. Its five-day losing streak is the longest this year.

The Nasdaq composite lost seven points, or 0.2 percent, to 3,761.10.

Worries about the economy and the growing possibility of a government shutdown also continue to weigh on investors' minds. In just a week, the mood of investors has shifted from giddiness over more Federal Reserve stimulus to concern that that a government shutdown could harm the fragile U.S. economic recovery.

Two financial deadlines for the U.S. government loom. Congress needs to pass a funding bill to keep the government operating after Oct. 1, when the Federal government's new fiscal year starts. There is also the issue of the nation's debt ceiling, which needs to be raised before Oct. 17, Treasury Secretary Jacob Lew told Congress in a letter Wednesday.

The Republican-controlled House of Representatives has passed a temporary spending bill and a vote in the Democrat-controlled Senate is expected later this week. However, a conflict between the two parties over funding the Affordable Care Act, also known as "Obamacare," has yet to be resolved. Both chambers of Congress have yet to address the issue of the debt ceiling.

"The action over the last few days has been far more tied to the intractably of Congress and the president than the concerns about what the Federal Reserve is going to do next," said Jack Ablin, chief investment officer at BMO Private Bank, which manages $66 billion in assets.

Ablin said investors have bad memories from August 2011, the last time Congress and President Obama fought over the debt ceiling and the budget, which ultimately led Standard & Poor's to downgrade the credit rating of the U.S.

Although the U.S. and Europe are in better shape two years later, there are concerns about real damage to the economy if the budget battle turns ugly. U.S. economic growth slowed considerably in the third quarter of 2011, the same quarter as the downgrade. The slowdown was caused partly by a drop in non-defense-related spending.

The Dow went through nearly three weeks of triple-digit gains and losses during that month, a rough ride that made even hardened Wall Street traders nauseous								

 *The NYSE DOW closed  	LOWER ▼	-61.33	points or ▼	-0.40%	on	Wednesday, 25 September 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15273.26	▼	-61.33	▼	-0.40%		
	Nasdaq___	3761.1	▼	-7.16	▼	-0.19%		
	S&P_500__	1692.77	▼	-4.65	▼	-0.27%		
	30_Yr_Bond	3.648	▼	-0.024	▼	-0.65%		

NYSE Volume	 3,403,604,500 	 	 	 	 	  		 
Nasdaq Volume	 1,796,439,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6551.53	▼	-19.93	▼	-0.30%		
	DAX_____	8665.63	▲	1.03	▲	0.01%		
	CAC_40__	4195.35	▼	-0.26	▼	-0.01%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5270.1	▲	40.6	▲	0.78%		
	Shanghai_Comp	2198.52	▼	-9.02	▼	-0.41%		
	Taiwan_Weight	8283.9	▼	-15.22	▼	-0.18%		
	Nikkei_225____	14620.53	▼	-112.08	▼	-0.76%		
	Hang_Seng____	23209.63	▲	30.59	▲	0.13%		
	Strait_Times___	3211.75	▼	-2.5	▼	-0.08%		
	NZX_50_Index__	4764.72	▲	54.14	▲	1.15%		

http://www.usnews.com/news/business...tocks-little-changed-after-4-days-of-declines

Wal-Mart, Washington worries whack stock market

By KEN SWEET, Associated Press

NEW YORK (AP) ”” Wal-Mart spooked the stock market Wednesday ”” helping push stocks lower for a fifth straight day.

The Dow Jones industrial average fell 61 points, or 0.4 percent, to 15,273.26. The Dow was dragged down by Wal-Mart after Bloomberg News reported that the world's biggest retailer is cutting orders with suppliers as unsold merchandise piles up.

Wal-Mart spokesman Dave Tovar said the report was misleading and that in some categories, the discounter was ordering more, and in other areas it was ordering less.

"This is business as usual," Tovar said, noting that it was part of an ongoing process of managing the seasonality of the business based on consumer demand.

Wal-Mart fell $1.10, or 1.5 percent, to $74.65, taking the rest of the market with it.

The Standard & Poor's 500 index fell five points, or 0.3 percent, to 1,692.77. Its five-day losing streak is the longest this year.

The Nasdaq composite lost seven points, or 0.2 percent, to 3,761.10.

Worries about the economy and the growing possibility of a government shutdown also continue to weigh on investors' minds. In just a week, the mood of investors has shifted from giddiness over more Federal Reserve stimulus to concern that that a government shutdown could harm the fragile U.S. economic recovery.

Two financial deadlines for the U.S. government loom. Congress needs to pass a funding bill to keep the government operating after Oct. 1, when the Federal government's new fiscal year starts. There is also the issue of the nation's debt ceiling, which needs to be raised before Oct. 17, Treasury Secretary Jacob Lew told Congress in a letter Wednesday.

The Republican-controlled House of Representatives has passed a temporary spending bill and a vote in the Democrat-controlled Senate is expected later this week. However, a conflict between the two parties over funding the Affordable Care Act, also known as "Obamacare," has yet to be resolved. Both chambers of Congress have yet to address the issue of the debt ceiling.

"The action over the last few days has been far more tied to the intractably of Congress and the president than the concerns about what the Federal Reserve is going to do next," said Jack Ablin, chief investment officer at BMO Private Bank, which manages $66 billion in assets.

Ablin said investors have bad memories from August 2011, the last time Congress and President Obama fought over the debt ceiling and the budget, which ultimately led Standard & Poor's to downgrade the credit rating of the U.S.

Although the U.S. and Europe are in better shape two years later, there are concerns about real damage to the economy if the budget battle turns ugly. U.S. economic growth slowed considerably in the third quarter of 2011, the same quarter as the downgrade. The slowdown was caused partly by a drop in non-defense-related spending.

The Dow went through nearly three weeks of triple-digit gains and losses during that month, a rough ride that made even hardened Wall Street traders nauseous.

"All we're doing now is worrying," Ablin said.

Wall Street is also looking to next Friday, Oct. 4, when investors get the September jobs report. If hiring is strong enough, the Federal Reserve could decide to start pulling back on its economic stimulus at a two-day policy meeting later in the month.

At the end of its last meeting on Sept. 18, traders had expected a small cut in the Fed's $85 billion monthly bond purchases, which are aimed at keeping long-term interest rates low to encourage borrowing. When the Fed kept its bond-buying intact, the Dow and S&P 500 index soared to all-time highs. Wall Street celebrated that the central bank would keep borrowing rates as low as possible.

But the Fed's decision also left traders worried that the economy wasn't healthy enough to grow without the Fed's help.

Investors did get an unexpectedly positive August durable goods report on Wednesday. Orders for long-lasting manufactured goods rose 0.1 percent last month, following an 8.1 percent decline in July.

Among stocks making big moves:

JC Penney fell $1.78, or 15 percent, to $10.12, as more Wall Street analysts continued to downgrade the department store chain's outlook. An analyst at JPMorgan Chase said JC Penney might right out of cash by next year.

Mako Surgical soared $13.29, or 82 percent, to $29.46 after medical technology company Stryker said it would buy Mako for $1.65 billion, or $30 per share.

Ascena Retail Group shares jumped $2.74, or 16 percent, to $20.06. The parent company of Lane Bryant, Dressbarn and Maurices, reported results that were significantly better than financial analysts expected in its most recent quarter.


----------



## bigdog

Source: http://finance.yahoo.com 

The S&P 500 and Dow snapped five-day losing streaks on Thursday on positive job market data but gains were limited as investors worried if Washington lawmakers would pass bills to avoid a government shutdown and possible U.S. debt default on time.

Initial claims for state unemployment benefits dropped last week near a six-year low, the Labor Department said, which could bode well for employers adding workers to their payrolls. Other data on housing and consumer prices were less positive signs of the recovery.

But the encouraging jobless claims data comes shortly before September's unemployment report, which will be important input for the Federal Reserve as it decides when to change monetary policy.

"If today's number was a good number, that means when we see the job report on October 4, that number ought to be pretty strong," said Phil Orlando, chief equity market strategist at Federated Investors in New York.

"That's going to give us another clue as to the underlying strength of the labor market, which was one of the reasons the Federal Reserve chose not to commence the taper."

Consumer discretionary shares gave the biggest boost to the S&P 500, which was up for the first session since the September 18 rally on the Fed's decision to keep its stimulus program unchanged for now. The S&P consumer discretionary index <.SPLRCD> rose 0.9 percent.

The Dow Jones industrial average <.DJI> was up 55.04 points, or 0.36 percent, at 15,328.30. The Standard & Poor's 500 Index <.SPX> was up 5.90 points, or 0.35 percent, at 1,698.67. The Nasdaq Composite Index <.IXIC> was up 26.33 points, or 0.70 percent, at 3,787.43.

The Dow and S&P 500 rose after five straight sessions of losses, while the Nasdaq closed just shy of a high last seen about 13 years ago.

In Washington, House Republicans refused to give in to President Barack Obama's demands for straightforward bills to keep the government running beyond September 30 and to increase borrowing authority to avoid a historic default.

Congress, struggling to avert a government shutdown next week, was warned by the Obama administration that the Treasury was quickly running out of funds to pay government bills and could soon face a damaging debt default.

Another threat to the recovering economy was the prospect of federal agencies shutting down beginning on Tuesday with the new fiscal year unless Congress comes up with emergency funds.


 *The NYSE DOW closed  	HIGHER ▲	55.04	points or ▲	0.36%	on	Thursday, 26 September 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15328.3	▲	55.04	▲	0.36%		
	Nasdaq___	3787.43	▲	26.33	▲	0.70%		
	S&P_500__	1698.67	▲	5.9	▲	0.35%		
	30_Yr_Bond	3.69	▲	0.042	▲	1.15%		

NYSE Volume	 3,038,046,750 	 	 	 	 	  		 
Nasdaq Volume	 1,788,966,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6565.59	▲	14.06	▲	0.21%		
	DAX_____	8664.1	▼	-1.53	▼	-0.02%		
	CAC_40__	4186.72	▼	-8.63	▼	-0.21%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5288.2	▲	18.1	▲	0.34%		
	Shanghai_Comp	2155.81	▼	-42.71	▼	-1.94%		
	Taiwan_Weight	8184.68	▼	-99.22	▼	-1.20%		
	Nikkei_225____	14799.12	▲	178.59	▲	1.22%		
	Hang_Seng____	23125.03	▼	-84.6	▼	-0.36%		
	Strait_Times___	3243.29	▲	21.36	▲	0.66%		
	NZX_50_Index__	4765.47	▲	0.75	▲	0.02%		

http://news.yahoo.com/stock-futures-add-gains-gdp-claims-data-125316977--finance.html

*Wall Street ends five-day losing streak on job data; Nike up after the bell*
By Caroline Valetkevitch

NEW YORK (Reuters) - The S&P 500 and Dow snapped five-day losing streaks on Thursday on positive job market data but gains were limited as investors worried if Washington lawmakers would pass bills to avoid a government shutdown and possible U.S. debt default on time.

Initial claims for state unemployment benefits dropped last week near a six-year low, the Labor Department said, which could bode well for employers adding workers to their payrolls. Other data on housing and consumer prices were less positive signs of the recovery.

But the encouraging jobless claims data comes shortly before September's unemployment report, which will be important input for the Federal Reserve as it decides when to change monetary policy.

"If today's number was a good number, that means when we see the job report on October 4, that number ought to be pretty strong," said Phil Orlando, chief equity market strategist at Federated Investors in New York.

"That's going to give us another clue as to the underlying strength of the labor market, which was one of the reasons the Federal Reserve chose not to commence the taper."

Consumer discretionary shares gave the biggest boost to the S&P 500, which was up for the first session since the September 18 rally on the Fed's decision to keep its stimulus program unchanged for now. The S&P consumer discretionary index <.SPLRCD> rose 0.9 percent.

The Dow Jones industrial average <.DJI> was up 55.04 points, or 0.36 percent, at 15,328.30. The Standard & Poor's 500 Index <.SPX> was up 5.90 points, or 0.35 percent, at 1,698.67. The Nasdaq Composite Index <.IXIC> was up 26.33 points, or 0.70 percent, at 3,787.43.

The Dow and S&P 500 rose after five straight sessions of losses, while the Nasdaq closed just shy of a high last seen about 13 years ago.

In Washington, House Republicans refused to give in to President Barack Obama's demands for straightforward bills to keep the government running beyond September 30 and to increase borrowing authority to avoid a historic default.

Congress, struggling to avert a government shutdown next week, was warned by the Obama administration that the Treasury was quickly running out of funds to pay government bills and could soon face a damaging debt default.

Another threat to the recovering economy was the prospect of federal agencies shutting down beginning on Tuesday with the new fiscal year unless Congress comes up with emergency funds.

Among top percentage gainers on the Nasdaq, Bed Bath and Beyond rose 4.5 percent to $77.54, a day after it reported a jump in second-quarter profit as the U.S. housing market recovery spurred demand.

After the bell, shares of Nike Inc jumped 4.1 percent to $73.20 following the release of its results. It was the first earnings report of the season for the retailer as a member of the blue-chip Dow Jones industrial average. The stock ended the regular session up 2.1 percent at $70.34.

During regular trading, shares of J.C. Penney Co Inc gained 2.9 percent to $10.24 after CNBC reported its chief executive told investors he does not see the need to raise cash this year. But after the close, the stock slid 5.5 percent to $9.85 after it said it had begun a public offering of 84 million shares.

On Wednesday, the stock hit a 13-year low after Goldman Sachs said it expects sales at the troubled department store chain to improve more slowly than expected.

Among Thursday's decliners, Eli Lilly lost 3 percent to $51.04 and was among the biggest drags on the S&P 500 after its experimental cancer drug failed to improve survival among breast cancer patients without their cancer worsening in a late-stage trial.

Hertz Global shares tumbled 16.1 percent to $21.63 after the car rental company cut its full-year forecast.

For the third quarter, year-over-year S&P 500 earnings are expected to have risen 4.8 percent, down sharply from a July 1 forecast for earnings growth of 8.5 percent, according to Thomson Reuters data.

Other economic data on Thursday showed the U.S. government left unchanged its estimate for economic growth in the second quarter at 2.5 percent.

Volume totaled about 5.4 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, below the average daily closing volume of about 6.3 billion this year.

Advancers outpaced decliners on the NYSE by about 1.8 to 1 and on the Nasdaq by about 1.5 to 1.


----------



## bigdog

Source: http://finance.yahoo.com 

 The budget fight may be happening in Washington, but it's investors on Wall Street who keep getting hurt.

Stocks fell for the sixth day out of the last seven and ended the week with a decline. Investors focused on the risk that the government could shut down on Tuesday unless Congress agrees to a new spending bill. And even if that hurdle is cleared, the dispute is poised to continue into the middle of October as legislators debate raising the nation's borrowing limit.

There were a lot of moving parts for investors to keep track of on Friday. The U.S. Senate approved a spending bill that is already considered dead in the House of Representatives, where Republicans want changes to President Barack Obama's health care law. Obama spoke on live television during the closing minutes of trading. And investors braced for the possibility that when markets reopen on Monday, none of this will have been resolved, even though the House will be in session over the weekend.

So how should an investor get ready for next week?

"I don't know what's going to happen 15 minutes from now," said Stephen Carl, head of equity trading at The Williams Capital Group. He noted that volume on Friday was low, suggesting that some investors were waiting for more information.

Stocks moved little as Obama spoke during the final minutes of trading. He reiterated a previous vow not to negotiate with Congress under the threat of a shutdown.

The Dow Jones industrial average fell 70.06 points, or 0.5 percent, to close at 15,258.24. The Standard & Poor's 500 index fell 6.92 points, or 0.4 percent, to 1,691.75. The Nasdaq composite was down 5.83 points, or 0.15 percent, at 3,781.59.

Still, the indexes are off only about 1 percent for the week, and the S&P 500 is just 2 percent below its record high set Sept. 18.

Investors are also dealing with mixed economic signals.

On Friday, a government report showed that incomes and consumer spending grew slightly last month. The increases suggest anemic growth that is not strong enough to accelerate the economic recovery.

A survey showed that consumer confidence declined this month as Americans worried about the possible government shutdown and their own finances. The survey found that half of households expect no pay increase in the coming year.

The Federal Reserve's view last week that the economy is still weak is scaring people, said Frank Fantozzi, CEO of Planned Financial Services.

"If you keep saying things are bad, even if things are good, people are going to believe they're bad, and they're going to act accordingly," he said								

 *The NYSE DOW closed  	LOWER ▼	-70.06	points or ▼	-0.46%	on	Friday, 27 September 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15258.24	▼	-70.06	▼	-0.46%		
	Nasdaq___	3781.59	▼	-5.83	▼	-0.15%		
	S&P_500__	1691.75	▼	-6.92	▼	-0.41%		
	30_Yr_Bond	3.68	▼	-0.01	▼	-0.24%		

NYSE Volume	 3,244,914,500 	 	 	 	 	  		 
Nasdaq Volume	 1,671,168,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6512.66	▼	-52.93	▼	-0.81%		
	DAX_____	8661.51	▼	-2.59	▼	-0.03%		
	CAC_40__	4186.77	▲	0.05	▲	0.00%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5302.3	▲	14.1	▲	0.27%		
	Shanghai_Comp	2160.03	▲	4.22	▲	0.20%		
	Taiwan_Weight	8230.68	▲	46	▲	0.56%		
	Nikkei_225____	14760.07	▼	-39.05	▼	-0.26%		
	Hang_Seng____	23207.04	▲	82.01	▲	0.35%		
	Strait_Times___	3210.18	▲	15.87	▲	0.50%		
	NZX_50_Index__	4782.68	▲	17.21	▲	0.36%		

http://abcnews.go.com/Business/wireStory/stocks-fall-government-shutdown-worries-20401247
*
Stocks Fall on Government Shutdown Worries*
September 28, 2013 (AP)
By JOSHUA FREED AP Business Writer

 The budget fight may be happening in Washington, but it's investors on Wall Street who keep getting hurt.

Stocks fell for the sixth day out of the last seven and ended the week with a decline. Investors focused on the risk that the government could shut down on Tuesday unless Congress agrees to a new spending bill. And even if that hurdle is cleared, the dispute is poised to continue into the middle of October as legislators debate raising the nation's borrowing limit.

There were a lot of moving parts for investors to keep track of on Friday. The U.S. Senate approved a spending bill that is already considered dead in the House of Representatives, where Republicans want changes to President Barack Obama's health care law. Obama spoke on live television during the closing minutes of trading. And investors braced for the possibility that when markets reopen on Monday, none of this will have been resolved, even though the House will be in session over the weekend.

So how should an investor get ready for next week?

"I don't know what's going to happen 15 minutes from now," said Stephen Carl, head of equity trading at The Williams Capital Group. He noted that volume on Friday was low, suggesting that some investors were waiting for more information.

Stocks moved little as Obama spoke during the final minutes of trading. He reiterated a previous vow not to negotiate with Congress under the threat of a shutdown.

The Dow Jones industrial average fell 70.06 points, or 0.5 percent, to close at 15,258.24. The Standard & Poor's 500 index fell 6.92 points, or 0.4 percent, to 1,691.75. The Nasdaq composite was down 5.83 points, or 0.15 percent, at 3,781.59.

Still, the indexes are off only about 1 percent for the week, and the S&P 500 is just 2 percent below its record high set Sept. 18.

Investors are also dealing with mixed economic signals.

On Friday, a government report showed that incomes and consumer spending grew slightly last month. The increases suggest anemic growth that is not strong enough to accelerate the economic recovery.

A survey showed that consumer confidence declined this month as Americans worried about the possible government shutdown and their own finances. The survey found that half of households expect no pay increase in the coming year.

The Federal Reserve's view last week that the economy is still weak is scaring people, said Frank Fantozzi, CEO of Planned Financial Services.

"If you keep saying things are bad, even if things are good, people are going to believe they're bad, and they're going to act accordingly," he said.

Eight out of 10 industry groups in the S&P 500 index fell. Health care and consumer discretionary stocks had small gains.

Among big stock movers:

J.C. Penney Co. shares slid $1.37, or 13 percent, to $9.05 after the struggling retailer said it would raise about $811 million through a stock offering. The shares fell as investors noted that the new shares are priced at $9.65, less than J.C. Penney's closing price of $10.42 on Thursday. Also, the growing pool of shares means investors' current stakes in the company will shrink.

United Continental Holdings Inc. fell $3.16, or 9 percent, to $30.91 after it projected third-quarter revenue below Wall Street's expectations.

Lumber Liquidators dropped $5.83, or 5 percent, to $107.13 after it disclosed that federal authorities searched its corporate offices in an action related to imports of wood flooring products.

Nike shares jumped $3.30, or 5 percent, to $73.64 after it reported a quarterly profit that was higher than analysts expected.

The yield on the 10-year Treasury fell to 2.63 percent, from 2.64 percent on Thursday.

1885


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks fell Monday as Wall Street worried that a budget fight in Washington could lead to an event far worse for the economy”” a failure to raise the nation's borrowing limit.

Investors pulled back from stocks as a budget standoff between Republicans and Democrats in Congress threatened to push the government into a partial shutdown for the first time in 17 years. Lawmakers have until midnight Tuesday to reach a budget deal that would keep government in full operation.

There is a simple reason why the budget battle ”” and, more importantly, an upcoming fight over the debt ceiling ”” are so crucial: the credit of the United States is the bedrock that nearly every other investment is built upon, largely due to the assumption that the nation will always pay its debts.

"The concern is government has become so polarized that if it cannot pass (a budget), there's a greater chance that the debt ceiling battle will go to the brink or possibly lead to a default," said Alec Young, global equity strategist with S&P Capital IQ.

The Dow Jones industrial average fell 128.57 points, or 0.8 percent, to close at 15,129.67. The Standard & Poor's 500 slid 10.20 points, or 0.6 percent, to 1,681.55 and the Nasdaq composite dropped 10.12 points, or 0.3 percent, to 3,771.48.

Monday's decline adds to what has been eventful September for investors. Stocks hit an all-time high on Sept. 18 after the Federal Reserve voted to keep up its economic stimulus program. But that enthusiasm vanished as Wall Street began to worry that the political bickering between Democrats and Republicans would lead to a government shutdown and crisis over the debt ceiling.

Even with the worries about a shutdown and debt ceiling, investors are still optimistic about the long-term health of the U.S. economy. The S&P 500 index rose 3 percent in September and is up 18 percent for the year.

With September behind them, investors now head into a worrisome October.

A brief shutdown wouldn't hit the economy and stock market hard. But a prolonged one, lasting two weeks, could lower the annual growth rate for the economy by 0.3 percentage point, according to a report by Macroeconomic Advisers. If a shutdown were to last the entire month, it could cut the annual growth rate by 0.7 percentage point. That is because hundreds of thousands of federal workers would go without a paycheck.

"You're putting a lot of people, at least temporarily, out of work and out of pay, and that will affect spending," said Kathy Jones, vice president of fixed income strategy at Charles Schwab. "It slows down activity on companies that depend on federal contracts."

Some investors think a shutdown could be a positive event in the long-term. The political pressure could force politicians to get down to business and negotiate ”” particularly on the issue of the debt ceiling. 								

 *The NYSE DOW closed  	LOWER ▼	-128.57	points or ▼	-0.84%	on	Monday, 30 September 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15129.67	▼	-128.57	▼	-0.84%		
	Nasdaq___	3771.48	▼	-10.12	▼	-0.27%		
	S&P_500__	1681.55	▼	-10.2	▼	-0.60%		
	30_Yr_Bond	3.686	▲	0.005	▲	0.14%		

NYSE Volume	 3,307,165,250 	 	 	 	 	  		 
Nasdaq Volume	 1,865,253,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6462.22	▼	-50.44	▼	-0.77%		
	DAX_____	8594.4	▼	-67.11	▼	-0.77%		
	CAC_40__	4143.44	▼	-43.33	▼	-1.03%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5217.7	▼	-84.6	▼	-1.60%		
	Shanghai_Comp	2174.66	▲	14.64	▲	0.68%		
	Taiwan_Weight	8173.87	▼	-56.81	▼	-0.69%		
	Nikkei_225____	14455.8	▼	-304.27	▼	-2.06%		
	Hang_Seng____	22859.86	▼	-347.18	▼	-1.50%		
	Strait_Times___	3167.87	▼	-42.31	▼	-1.32%		
	NZX_50_Index__	4736.39	▼	-46.29	▼	-0.97%		

http://finance.yahoo.com/news/stocks-fall-government-heads-toward-211329560.html

*Stocks fall as government heads toward shutdown

Stocks drop as investors fear political bickering may impact growth*

By Ken Sweet, AP Markets Writer

Stocks fell Monday as Wall Street worried that a budget fight in Washington could lead to an event far worse for the economy”” a failure to raise the nation's borrowing limit.

Investors pulled back from stocks as a budget standoff between Republicans and Democrats in Congress threatened to push the government into a partial shutdown for the first time in 17 years. Lawmakers have until midnight Tuesday to reach a budget deal that would keep government in full operation.

There is a simple reason why the budget battle ”” and, more importantly, an upcoming fight over the debt ceiling ”” are so crucial: the credit of the United States is the bedrock that nearly every other investment is built upon, largely due to the assumption that the nation will always pay its debts.

"The concern is government has become so polarized that if it cannot pass (a budget), there's a greater chance that the debt ceiling battle will go to the brink or possibly lead to a default," said Alec Young, global equity strategist with S&P Capital IQ.

The Dow Jones industrial average fell 128.57 points, or 0.8 percent, to close at 15,129.67. The Standard & Poor's 500 slid 10.20 points, or 0.6 percent, to 1,681.55 and the Nasdaq composite dropped 10.12 points, or 0.3 percent, to 3,771.48.

Monday's decline adds to what has been eventful September for investors. Stocks hit an all-time high on Sept. 18 after the Federal Reserve voted to keep up its economic stimulus program. But that enthusiasm vanished as Wall Street began to worry that the political bickering between Democrats and Republicans would lead to a government shutdown and crisis over the debt ceiling.

Even with the worries about a shutdown and debt ceiling, investors are still optimistic about the long-term health of the U.S. economy. The S&P 500 index rose 3 percent in September and is up 18 percent for the year.

With September behind them, investors now head into a worrisome October.

A brief shutdown wouldn't hit the economy and stock market hard. But a prolonged one, lasting two weeks, could lower the annual growth rate for the economy by 0.3 percentage point, according to a report by Macroeconomic Advisers. If a shutdown were to last the entire month, it could cut the annual growth rate by 0.7 percentage point. That is because hundreds of thousands of federal workers would go without a paycheck.

"You're putting a lot of people, at least temporarily, out of work and out of pay, and that will affect spending," said Kathy Jones, vice president of fixed income strategy at Charles Schwab. "It slows down activity on companies that depend on federal contracts."

Some investors think a shutdown could be a positive event in the long-term. The political pressure could force politicians to get down to business and negotiate ”” particularly on the issue of the debt ceiling.

"This may be good thing in the long run because it may lead to compromise," said J.J. Kinahan, chief strategist at TD Ameritrade.

Treasury Secretary Jack Lew said last week that the government would run out of borrowing authority by roughly Oct. 17. The last time the debt ceiling issue came up in August 2011, it led to Standard & Poor's downgrading the United States' credit rating. The Dow went through nearly three weeks of nauseating triple-digits moves almost daily.

"This sort of political brinkmanship is the dominant reason (the United States' credit) rating is no longer 'AAA,'" Standard & Poor's analysts Marie Cavanaugh and John Chambers wrote in a note to investors Monday.

If domestic and foreign investors begin to question whether the U.S. will pay its debts, it could throw every other investment out of alignment.

"It's a threat to the center of the global financial system," said Jake Lowery, portfolio manager at ING U.S. Investment Management.

Despite fears of default, the bond market was fairly quiet Monday. The yield on the benchmark 10-year U.S. Treasury note eased to 2.62 percent from 2.63 percent late Friday. Bond investors are in a wait-and-see mode.

They can deal with a government shutdown. However, if the political dysfunction becomes worrisome enough that it raises questions about the debt ceiling, "it might be more difficult for the bond market to absorb that," Lowery said.


----------



## bigdog

Source: http://finance.yahoo.com 

Investors stayed calm on the first day of a partial shutdown of the U.S. government Tuesday and sent the stock market modestly higher.

A long-running dispute in Washington over President Barack Obama's health care law caused a deadlock over the U.S. budget, forcing about 800,000 federal workers off the job and suspending all but essential services. With the Republican-controlled House of Representatives and Democratic-controlled Senate locked in a stalemate, it was unclear how long a temporary bill needed to finance government activities would be stalled.

Despite the political rancor, investors didn't push the panic button. That suggests that, at least for now, they aren't anticipating that the stalemate will cause enough disruption in the economy to threaten a gradual U.S. recovery and a four-year bull run in the stock market.

"The trend of the economy appears to be in a positive direction," said Michael Sheldon, chief market strategist at RDM Financial Group. "Unless this really gets ugly, we think the markets should start to look ahead to what we believe should be better economic data over the next six to 12 months."

In the latest encouraging news on the economy, a private industry group reported Tuesday that U.S. manufacturing expanded at the fastest pace since April 2011 last month on stronger production and hiring.

The Dow Jones industrial average rose 62.03 points, or 0.4 percent, to 15,191.70. The Standard & Poor's 500 index gained 13.45 points, or 0.8 percent, to 1,695.00. The Nasdaq composite rose 46.50 points, or 1.2 percent, to 3,817.98.

All ten sectors of the S&P 500 rose, led by gains in health care and technology.

Merck helped lift the health care sector. The drugmaker's stock rose $1.13, or 2.4 percent, to $48.74 after it announced plans to cut another 8,500 jobs as part of a plan to reduce its annual costs by about $2.5 billion by the end of 2015.

The technology sector was given a boost by Apple, which gained $11.21, or 2.4 percent, to $487.90, after billionaire investor Carl Icahn tweeted about his dinner meeting with Apple's CEO Tim Cook. Icahn, who said he has invested $2 billion in Apple, is pushing for the company to spend $150 billion buying its own stock.

"I feel very strongly that this should be done," Icahn told CNBC in an interview. "It's a no-brainer."

The Apple board pledged in April to spend $60 billion buying back its stock through the end of 2015. About $18 billion of that commitment had been exhausted through June.

The S&P 500 index has fallen 2 percent since climbing to a record on Sept. 18, when the Federal Reserve surprised investors by saying it would continue with its economic stimulus. The index has fallen seven out of eight days leading up to the partial government shutdown. 								

 *The NYSE DOW closed  	HIGHER ▲	62.03	points or ▲	0.41%	on	Tuesday, 1 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15191.7	▲	62.03	▲	0.41%		
	Nasdaq___	3817.98	▲	46.5	▲	1.23%		
	S&P_500__	1695	▲	13.45	▲	0.80%		
	30_Yr_Bond	3.721	▲	0.035	▲	0.95%		

NYSE Volume	 3,235,030,000 	 	 	 	 	  		 
Nasdaq Volume	 1,805,006,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6460.01	▼	-2.21	▼	-0.03%		
	DAX_____	8689.14	▲	94.74	▲	1.10%		
	CAC_40__	4196.6	▲	53.16	▲	1.28%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5206.3	▼	-11.4	▼	-0.22%		
	Shanghai_Comp	2174.66	▲	14.64	▲	0.68%		
	Taiwan_Weight	8187.02	▲	13.15	▲	0.16%		
	Nikkei_225____	14484.72	▲	28.92	▲	0.20%		
	Hang_Seng____	22859.86	▼	-347.18	▼	-1.50%		
	Strait_Times___	3181.5	▲	13.63	▲	0.43%		
	NZX_50_Index__	4743.87	▲	7.48	▲	0.16%		

http://finance.yahoo.com/news/markets-rise-even-us-government-164612626.html

*Markets rise even as US government shutdown starts

Investors take partial shutdown of US government in stride, send stock market higher*

By Steve Rothwell, AP Markets Writer 

Investors stayed calm on the first day of a partial shutdown of the U.S. government Tuesday and sent the stock market modestly higher.

A long-running dispute in Washington over President Barack Obama's health care law caused a deadlock over the U.S. budget, forcing about 800,000 federal workers off the job and suspending all but essential services. With the Republican-controlled House of Representatives and Democratic-controlled Senate locked in a stalemate, it was unclear how long a temporary bill needed to finance government activities would be stalled.

Despite the political rancor, investors didn't push the panic button. That suggests that, at least for now, they aren't anticipating that the stalemate will cause enough disruption in the economy to threaten a gradual U.S. recovery and a four-year bull run in the stock market.

"The trend of the economy appears to be in a positive direction," said Michael Sheldon, chief market strategist at RDM Financial Group. "Unless this really gets ugly, we think the markets should start to look ahead to what we believe should be better economic data over the next six to 12 months."

In the latest encouraging news on the economy, a private industry group reported Tuesday that U.S. manufacturing expanded at the fastest pace since April 2011 last month on stronger production and hiring.

The Dow Jones industrial average rose 62.03 points, or 0.4 percent, to 15,191.70. The Standard & Poor's 500 index gained 13.45 points, or 0.8 percent, to 1,695.00. The Nasdaq composite rose 46.50 points, or 1.2 percent, to 3,817.98.

All ten sectors of the S&P 500 rose, led by gains in health care and technology.

Merck helped lift the health care sector. The drugmaker's stock rose $1.13, or 2.4 percent, to $48.74 after it announced plans to cut another 8,500 jobs as part of a plan to reduce its annual costs by about $2.5 billion by the end of 2015.

The technology sector was given a boost by Apple, which gained $11.21, or 2.4 percent, to $487.90, after billionaire investor Carl Icahn tweeted about his dinner meeting with Apple's CEO Tim Cook. Icahn, who said he has invested $2 billion in Apple, is pushing for the company to spend $150 billion buying its own stock.

"I feel very strongly that this should be done," Icahn told CNBC in an interview. "It's a no-brainer."

The Apple board pledged in April to spend $60 billion buying back its stock through the end of 2015. About $18 billion of that commitment had been exhausted through June.

The S&P 500 index has fallen 2 percent since climbing to a record on Sept. 18, when the Federal Reserve surprised investors by saying it would continue with its economic stimulus. The index has fallen seven out of eight days leading up to the partial government shutdown.

"We're not jumping in with both feet but we're selectively putting money to work," said Joseph Quinlan, chief market strategist for U.S. Trust Bank of America Private Wealth Management. "On the other side of the government shutdown, you've got continued support from the Fed and a global economy that's rebounding."

Many investors still predict that the budget fight will be resolved before it spills over into a dispute about raising the nation's borrowing limit. Treasury Secretary Jack Lew said last week that the government would run out of borrowing authority by roughly Oct. 17.

The last time the borrowing limit, or debt ceiling, issue came up in August 2011, it led to a downgrade of the United States' credit rating by Standard & Poor's. The Dow went through nearly three weeks of triple-digits moves almost daily shortly thereafter.

"To some extent investors are conditioned to a certain amount of drama and if we can get the drama behind us quickly it won't be a big deal," said Dean Junkans, Chief Investment Officer for Wells Fargo Private Bank. "If this goes beyond the middle of next week, the market will get increasingly more worried about the debt ceiling."

In other stock trading, the Russell 2000, an index of small-company stocks, rose to a record level, a sign that investors are still willing to buy riskier assets despite the government slowdown.

The Russell rose 13.64 points, or 1.3 percent, to 1,087.43.

In government bond trading, the yield on the 10-year note rose to 2.65 percent from 2.61 percent late Monday.

The price of oil fell 29 cents, or 0.3 percent, to $102.04 a barrel. Gold fell $40.90, or 3 percent, to settle at $1,286.10 an ounce.

The dollar fell against the euro and the Japanese yen.

Among other stocks making big moves:

”” Walgreen rose $2.44, or 4.5 percent, to $56.24 after the drugstore chain said its fiscal fourth-quarter earnings soared 86 percent after it booked gains from its method of inventory accounting and its acquisition of a stake in European health and beauty retailer Alliance Boots.

”” Ford gained 32 cents, or 1.9 percent, to $17.19 after the automaker said that U.S. sales rose 6 percent in September, with strong car sales making up for slower sales of SUVs.


----------



## bigdog

Source: http://finance.yahoo.com 

Wall Street to Washington: end the shutdown and move on.

The U.S. stock market ended lower Wednesday as traders, Europe's central banker and Wall Street CEOs urged Congress to stop the two-day government shutdown that has closed national parks, put hundreds of thousands of federal employees on furlough and forced President Barack Obama to cancel an overseas trip.

Wall Street made it clear on that the longer the budget fight drags on, the more its bankers worry about significant damage to the economy and the possibility that Congress won't allow the government to borrow more. The financial market sees that as a disastrous move that could send the U.S. into recession.

"I'm not going out there and beating my chest and saying the world is coming to an end here," said Brad McMillan, the Chief Investment Officer at Commonwealth Financial, an investment adviser. "But we face the possibility for significantly greater disruptions than the market is currently pricing in."

Republicans in the House of Representatives are insisting that Democrats negotiate over a new health care law as part of the budget talks. Senate Democrats, led by Majority Leader Harry Reid of Nevada, insist that Republicans pass a straightforward temporary funding bill with no strings attached

On Wednesday, the major indexes opened sharply lower, with U.S. lawmakers appearing unwilling to yield in their entrenched positions. After Obama summoned Congressional leaders to the White House later in the morning, the market started to recoup some of its losses, but the recovery faded throughout the afternoon.

"The markets are sending a loud message to Washington lawmakers to get their act together and resolve the budget crisis," said Peter Cardillo, chief market economist at Rockwell Global Capital.

Earlier, European Central Bank head Mario Draghi said that the partial U.S. government shutdown was a risk to economic recoveries in the U.S. and globally.

Chief executives from the nation's biggest financial firms met with Obama for more than an hour Wednesday. Referring to the potential showdown over raising the government's borrowing limit, Lloyd Blankfein, CEO of Goldman Sachs, said: "We shouldn't use threats of causing the U.S. to fail ... as a cudgel."

Treasury Secretary Jacob Lew told Congress that unless lawmakers act in time, he will run out of money to pay the nation's bills by Oct. 17. Congress must periodically raise the limit on government borrowing to keep U.S. funds flowing, a once-routine matter that has become locked in battles over the federal budget deficit.

The last time there was an impasse over the borrowing limit, in August 2011, it led to a downgrade of the United States' credit rating by Standard & Poor's and a plunge in the stock market.

The government shutdown is ill-timed because the U.S. economic recovery is still on shaky foundations.

U.S. businesses added 166,000 jobs last month, payroll company ADP said Wednesday, a level consistent with only a modest improvement in hiring. Economists polled by FactSet had forecast 180,000 jobs would be added.

"It's clear that the economy hasn't picked up steam like people were anticipating," said Kate Warne, and investment strategist at Edward Jones, an investment adviser. "Especially with the government shutdown, there's not a lot that is going to help it do so over the next couple of months."

About 800,000 federal workers were staying home again Wednesday on the second day of the shutdown, the first since the winter of 1995-96.

The Dow Jones industrial average fell as much as 147 points in the first hour of trading. It ended the day down 58.56 points, or 0.4 percent, at 15,133.14 points.

The Standard & Poor's 500 index fell 1.13 points, or 0.1 percent, to 1,693.87. The Nasdaq composite declined 2.96 points, or 0.1 percent, to 3,815.02.

Six of 10 industry sectors in the S&P 500 fell. Declines were led by the makers of consumer staples and industrial companies. 								

 *The NYSE DOW closed  	LOWER ▼	-58.56	points or ▼	-0.39%	on	Wednesday, 2 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15133.14	▼	-58.56	▼	-0.39%		
	Nasdaq___	3815.02	▼	-2.96	▼	-0.08%		
	S&P_500__	1693.87	▼	-1.13	▼	-0.07%		
	30_Yr_Bond	3.71	▼	-0.011	▼	-0.30%		

NYSE Volume	 3,204,469,000 	 	 	 	 	  		 
Nasdaq Volume	 1,763,459,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6437.5	▼	-22.51	▼	-0.35%		
	DAX_____	8629.42	▼	-59.72	▼	-0.69%		
	CAC_40__	4158.16	▼	-38.44	▼	-0.92%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5214.9	▲	8.6	▲	0.17%		
	Shanghai_Comp	2174.66	▲	14.64	▲	0.68%		
	Taiwan_Weight	8216.52	▲	29.5	▲	0.36%		
	Nikkei_225____	14170.49	▼	-314.23	▼	-2.17%		
	Hang_Seng____	22984.48	▲	124.62	▲	0.55%		
	Strait_Times___	3152.58	▼	-28.92	▼	-0.91%		
	NZX_50_Index__	4768.87	▲	25	▲	0.53%		

http://finance.yahoo.com/news/stocks-fall-fears-protracted-shutdown-204752373.html

*Stocks fall as fears of protracted shutdown grow

Stocks fall; Wall Street fears damage to economy if government shutdown continues*

By Steve Rothwell, AP Markets Writer

Wall Street to Washington: end the shutdown and move on.

The U.S. stock market ended lower Wednesday as traders, Europe's central banker and Wall Street CEOs urged Congress to stop the two-day government shutdown that has closed national parks, put hundreds of thousands of federal employees on furlough and forced President Barack Obama to cancel an overseas trip.

Wall Street made it clear on that the longer the budget fight drags on, the more its bankers worry about significant damage to the economy and the possibility that Congress won't allow the government to borrow more. The financial market sees that as a disastrous move that could send the U.S. into recession.

"I'm not going out there and beating my chest and saying the world is coming to an end here," said Brad McMillan, the Chief Investment Officer at Commonwealth Financial, an investment adviser. "But we face the possibility for significantly greater disruptions than the market is currently pricing in."

Republicans in the House of Representatives are insisting that Democrats negotiate over a new health care law as part of the budget talks. Senate Democrats, led by Majority Leader Harry Reid of Nevada, insist that Republicans pass a straightforward temporary funding bill with no strings attached

On Wednesday, the major indexes opened sharply lower, with U.S. lawmakers appearing unwilling to yield in their entrenched positions. After Obama summoned Congressional leaders to the White House later in the morning, the market started to recoup some of its losses, but the recovery faded throughout the afternoon.

"The markets are sending a loud message to Washington lawmakers to get their act together and resolve the budget crisis," said Peter Cardillo, chief market economist at Rockwell Global Capital.

Earlier, European Central Bank head Mario Draghi said that the partial U.S. government shutdown was a risk to economic recoveries in the U.S. and globally.

Chief executives from the nation's biggest financial firms met with Obama for more than an hour Wednesday. Referring to the potential showdown over raising the government's borrowing limit, Lloyd Blankfein, CEO of Goldman Sachs, said: "We shouldn't use threats of causing the U.S. to fail ... as a cudgel."

Treasury Secretary Jacob Lew told Congress that unless lawmakers act in time, he will run out of money to pay the nation's bills by Oct. 17. Congress must periodically raise the limit on government borrowing to keep U.S. funds flowing, a once-routine matter that has become locked in battles over the federal budget deficit.

The last time there was an impasse over the borrowing limit, in August 2011, it led to a downgrade of the United States' credit rating by Standard & Poor's and a plunge in the stock market.

The government shutdown is ill-timed because the U.S. economic recovery is still on shaky foundations.

U.S. businesses added 166,000 jobs last month, payroll company ADP said Wednesday, a level consistent with only a modest improvement in hiring. Economists polled by FactSet had forecast 180,000 jobs would be added.

"It's clear that the economy hasn't picked up steam like people were anticipating," said Kate Warne, and investment strategist at Edward Jones, an investment adviser. "Especially with the government shutdown, there's not a lot that is going to help it do so over the next couple of months."

About 800,000 federal workers were staying home again Wednesday on the second day of the shutdown, the first since the winter of 1995-96.

The Dow Jones industrial average fell as much as 147 points in the first hour of trading. It ended the day down 58.56 points, or 0.4 percent, at 15,133.14 points.

The Standard & Poor's 500 index fell 1.13 points, or 0.1 percent, to 1,693.87. The Nasdaq composite declined 2.96 points, or 0.1 percent, to 3,815.02.

Six of 10 industry sectors in the S&P 500 fell. Declines were led by the makers of consumer staples and industrial companies.

Defense companies, which rely on government contracts for a large part of their revenue, led declines for industrial companies. Raytheon fell $1.73, or 2.2 percent, to $76.08. Lockheed Martin dropped $2.42, or 1.9 percent, to $125.

The market for some of the world's safest investments ”” U.S. government bonds ”” was mostly calm Wednesday.

The yield on the U.S. 10-year Treasury note, where global investors put their money when they want minimal risk, was little changed. It traded at 2.63 percent late Wednesday, compared with 2.65 percent the day before.

But there were signs of nervousness in the market for short-term U.S. debt.

Investors have been selling off one-month T-bills that mature around the time the U.S. government is expected to hit the debt ceiling.

In mid-September, the yield on a one month was between zero and 0.01 percent. On Tuesday, the yield had jumped up to 0.1 percent. The difference between 0.01 percent and 0.1 percent may seem trivial to the average American, but in the giant world of bond investing, it raises eyebrows.

Bond market watchers said the move is because portfolio managers of money market funds, those who most often buy T-bills with extremely short maturities, don't want to be caught holding U.S. government debt that matures around the time the federal government hits the debt ceiling, and therefore cannot pay its bills.


----------



## bigdog

Source: http://finance.yahoo.com 

Investors sold stocks across the board Thursday as a U.S. government shutdown dragged into a third day and the U.S. inched toward a deadline on raising the nation's borrowing limit.

The Dow Jones industrial average fell close to 200 points by late morning as Republicans and Democrats appeared no closer to ending the budget impasse. In speech President Barack Obama said there was only one way out of the shutdown: "Congress has to pass a budget that funds our government with no partisan strings attached."

Investors also got some disappointing economic news on Thursday.

The Institute of Supply Management said that sales fell sharply, new orders dipped and hiring weakened at U.S. service companies. The report covers industries including retail, construction, health care and financial services.

The stock market losses on Thursday marked an acceleration of gradual declines over the last two weeks. Stocks have fallen eight of the last 10 days as investors anticipated that negotiations over the federal budget would fail. If the shutdown persists, the weak economic recovery could falter.

Republicans in the House of Representatives, pushed by a core of tea party conservatives, are insisting that Obama accept changes to the health care law he pushed through three years ago as part of a budget bill. Obama refuses to consider any deal linking the health care law to routine legislation needed to extend government funding.

The U.S. Treasury Department said Thursday that the economy could plunge into a downturn worse than the Great Recession if Congress failed to raise the debt ceiling and the country defaulted on its debt obligations.

The U.S. missing a debt payment could cause credit markets to freeze, the value of the dollar to plummet and U.S. interest rates to skyrocket, according to the Treasury report.

A default "would be so catastrophic and such a self-inflicted wound that you can't imagine we would let it happen," said Maury Fertig, chief investment officer of Relative Value Partners. "But the fact is that every day we get closer to it the possibility increases, even though it's remote."

The Dow fell 136.66 points, or 0.9 percent, to 14,996.48, its biggest decline since Sept. 20. It was down as much as 186 earlier.

The Standard & Poor's 500 index dropped 15.21 points, or 0.9 percent, to 1,678.66. The Nasdaq composite fell 40.68 points, or 1.1 percent, to 3,774.34.

Stocks pared some of their losses in afternoon trading after the New York Times reported that the Republican House Speaker John Boehner had told his party that wouldn't let the nation default.

Lawmakers must periodically raise the nation's borrowing limit to keep U.S. funds flowing, but the once-routine matter has become a bargaining chip in battles over the federal budget deficit. Failure to raise the limit could cause the U.S. to miss payments on its debt.

Stocks also dipped briefly in afternoon trading on news that shots had been fired at the Capitol. 								

 *The NYSE DOW closed  	LOWER ▼	-136.66	points or ▼	-0.90%	on	Thursday, 3 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14996.48	▼	-136.66	▼	-0.90%		
	Nasdaq___	3774.34	▼	-40.68	▼	-1.07%		
	S&P_500__	1678.66	▼	-15.21	▼	-0.90%		
	30_Yr_Bond	3.707	▼	-0.003	▼	-0.08%		

NYSE Volume	 3,224,199,000 	 	 	 	 	  		 
Nasdaq Volume	 1,835,058,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6449.04	▲	11.54	▲	0.18%		
	DAX_____	8597.91	▼	-31.51	▼	-0.37%		
	CAC_40__	4127.98	▼	-30.18	▼	-0.73%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5232	▲	17.1	▲	0.33%		
	Shanghai_Comp	2174.66	▲	14.64	▲	0.68%		
	Taiwan_Weight	8359.02	▲	142.5	▲	1.73%		
	Nikkei_225____	14157.25	▼	-13.24	▼	-0.09%		
	Hang_Seng____	23214.4	▲	229.92	▲	1.00%		
	Strait_Times___	3144.79	▼	-7.79	▼	-0.25%		
	NZX_50_Index__	4770.21	▲	1.34	▲	0.03%		

http://finance.yahoo.com/news/stocks-fall-third-day-government-144428262.html

*Stocks fall on third day of government shutdown

Stocks fall on third day of government shutdown as US edges toward debt ceiling deadline*

By Steve Rothwell, AP Markets Writer 

Investors sold stocks across the board Thursday as a U.S. government shutdown dragged into a third day and the U.S. inched toward a deadline on raising the nation's borrowing limit.

The Dow Jones industrial average fell close to 200 points by late morning as Republicans and Democrats appeared no closer to ending the budget impasse. In speech President Barack Obama said there was only one way out of the shutdown: "Congress has to pass a budget that funds our government with no partisan strings attached."

Investors also got some disappointing economic news on Thursday.

The Institute of Supply Management said that sales fell sharply, new orders dipped and hiring weakened at U.S. service companies. The report covers industries including retail, construction, health care and financial services.

The stock market losses on Thursday marked an acceleration of gradual declines over the last two weeks. Stocks have fallen eight of the last 10 days as investors anticipated that negotiations over the federal budget would fail. If the shutdown persists, the weak economic recovery could falter.

Republicans in the House of Representatives, pushed by a core of tea party conservatives, are insisting that Obama accept changes to the health care law he pushed through three years ago as part of a budget bill. Obama refuses to consider any deal linking the health care law to routine legislation needed to extend government funding.

The U.S. Treasury Department said Thursday that the economy could plunge into a downturn worse than the Great Recession if Congress failed to raise the debt ceiling and the country defaulted on its debt obligations.

The U.S. missing a debt payment could cause credit markets to freeze, the value of the dollar to plummet and U.S. interest rates to skyrocket, according to the Treasury report.

A default "would be so catastrophic and such a self-inflicted wound that you can't imagine we would let it happen," said Maury Fertig, chief investment officer of Relative Value Partners. "But the fact is that every day we get closer to it the possibility increases, even though it's remote."

The Dow fell 136.66 points, or 0.9 percent, to 14,996.48, its biggest decline since Sept. 20. It was down as much as 186 earlier.

The Standard & Poor's 500 index dropped 15.21 points, or 0.9 percent, to 1,678.66. The Nasdaq composite fell 40.68 points, or 1.1 percent, to 3,774.34.

Stocks pared some of their losses in afternoon trading after the New York Times reported that the Republican House Speaker John Boehner had told his party that wouldn't let the nation default.

Lawmakers must periodically raise the nation's borrowing limit to keep U.S. funds flowing, but the once-routine matter has become a bargaining chip in battles over the federal budget deficit. Failure to raise the limit could cause the U.S. to miss payments on its debt.

Stocks also dipped briefly in afternoon trading on news that shots had been fired at the Capitol.

Defense companies, which rely on government contracts for much of their revenue, fell. Lockheed Martin dropped $2.25, or 1.8 percent, to $122.80. The stock has fallen 5.4 percent in the last five trading days.

Despite the slump during the last two weeks, stocks are still close to the record levels they reached last month. The S&P 500 is up 17 percent so far this year, having climbed as much as 21 percent by Sept. 18.

A four-year bull-market for stocks has been sustained by a recovery in the housing market, improving hiring and resilient corporate earnings. Unprecedented economic stimulus from the Federal Reserve has also supported the market.

Some analysts said that investors should take advantage of any decline further price declines and add to their holdings of stocks.

"While the chances are not zero, the probability of the debt ceiling not being raised and the probability of the U.S. defaulting are about as close to zero as you can possibly get," said Scott Wren, a senior equity strategist at Wells Fargo Advisors. "I hope the market takes the bait and we get more of a sell-off here, it's just an opportunity."

The dollar dropped against the euro and the Japanese yen, continuing a recent slide. The dollar index, which measures the U.S. currency against a group of other major currencies, has declined for five days.

The Labor Department said Thursday it will not release the highly anticipated September jobs report on Friday because the government remains partly shut down.

In government bond trading, the yield on the 10-year Treasury note fell to 2.61 percent from 2.62 percent Wednesday.

Among stocks making big moves:

”” Tesla Motors fell $7.64, or 4.2 percent, to $173.31 after the electric car company had a rare downgrade from a financial analyst and on news of a fire involving one of its cars.

”” HCP fell $1.95, or 4.7 percent, to $39.82 after the real estate investment trust fired James F. Flaherty as its chairman and CEO.


----------



## bigdog

Source: http://finance.yahoo.com 

Wall Street thinks Washington's gridlock could be easing.

Stocks posted modest gains Friday, driven by budding optimism among traders that Washington's bickering politicians can reach an agreement on the budget and on increasing the government's borrowing limit soon.

"Call it 'modest optimism,'" said Frank Davis, director of sales and trading at LEK Securities.

The stock market rose for just the third time in 12 days. The Dow Jones industrial average closed up 76.10 points, or 0.5 percent, at 15,072.58. The Standard & Poor's 500 index rose 11.84 points, or 0.7 percent, at 1,690.50 and the Nasdaq composite index gained 33.41 points, or 0.9 percent, at 3,807.75.

Traders aren't expecting a miracle. The rhetoric between Democrats and Republicans remains as hot as ever. But the pressure to end the shutdown and raise the debt ceiling is climbing quickly.

"The thought is that the Republicans and Democrats will soon work this out before Oct. 17," Davis said, referring to the date the Treasury Department said the government's borrowing authority would be exhausted.

On Friday, House Speaker John Boehner reemphasized that he won't let the U.S. government default on its debts. There were also reports that Boehner was looking to bring House Republicans together to pass some sort of budget compromise that would include raising the debt ceiling.

Davis noted that it's a positive sign that investors are buying stocks heading into a weekend, especially with how volatile the political climate in Washington has been.

Despite Friday's gains, the trend for the last three weeks in the stock market has been lower. The Dow is down nearly 4 percent since hitting an all-time high on Sept. 18.

While remote, the possibility of the U.S. failing to pay its bills or creditors remains a deep concern to investors.

"Credit markets could freeze, the value of the dollar could plummet, U.S. interest rates could skyrocket, the negative spillovers could reverberate around the world, and there might be a financial crisis and recession that could echo the events of 2008 or worse," the Treasury Department said in a report Thursday.

Investors went through a similar case of political brinkmanship in August 2011, which ultimately led to Standard & Poor's downgrading the United States' credit rating. The S&P 500 fell roughly 12 percent in the weeks that followed.

Because of that precedent, the political noise out of Washington has come to dominate nearly all conversations on Wall Street. 								

 *The NYSE DOW closed  	HIGHER ▲	76.1	points or ▲	0.51%	on	Friday, 4 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15072.58	▲	76.1	▲	0.51%		
	Nasdaq___	3807.75	▲	33.41	▲	0.89%		
	S&P_500__	1690.5	▲	11.84	▲	0.71%		
	30_Yr_Bond	3.732	▲	0.025	▲	0.67%		

NYSE Volume	 2,793,929,750 	 	 	 	 	  		 
Nasdaq Volume	 1,518,676,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6453.88	▲	4.84	▲	0.08%		
	DAX_____	8622.97	▲	25.06	▲	0.29%		
	CAC_40__	4164.25	▲	36.27	▲	0.88%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5205.9	▼	-26.1	▼	-0.50%		
	Shanghai_Comp	2174.66	▲	14.64	▲	0.68%		
	Taiwan_Weight	8364.55	▲	5.53	▲	0.07%		
	Nikkei_225____	14024.31	▼	-132.94	▼	-0.94%		
	Hang_Seng____	23138.54	▼	-75.86	▼	-0.33%		
	Strait_Times___	3138.08	▼	-6.71	▼	-0.21%		
	NZX_50_Index__	4759.38	▼	-10.83	▼	-0.23%		

http://finance.yahoo.com/news/stocks-rise-hope-dc-end-202828935.html

*Stocks rise on hope that DC will end its bickering

Stocks rises on hope that Washington can reach deals on a budget and extending borrowing limit*

By Ken Sweet, AP Markets Writer

Wall Street thinks Washington's gridlock could be easing.

Stocks posted modest gains Friday, driven by budding optimism among traders that Washington's bickering politicians can reach an agreement on the budget and on increasing the government's borrowing limit soon.

"Call it 'modest optimism,'" said Frank Davis, director of sales and trading at LEK Securities.

The stock market rose for just the third time in 12 days. The Dow Jones industrial average closed up 76.10 points, or 0.5 percent, at 15,072.58. The Standard & Poor's 500 index rose 11.84 points, or 0.7 percent, at 1,690.50 and the Nasdaq composite index gained 33.41 points, or 0.9 percent, at 3,807.75.

Traders aren't expecting a miracle. The rhetoric between Democrats and Republicans remains as hot as ever. But the pressure to end the shutdown and raise the debt ceiling is climbing quickly.

"The thought is that the Republicans and Democrats will soon work this out before Oct. 17," Davis said, referring to the date the Treasury Department said the government's borrowing authority would be exhausted.

On Friday, House Speaker John Boehner reemphasized that he won't let the U.S. government default on its debts. There were also reports that Boehner was looking to bring House Republicans together to pass some sort of budget compromise that would include raising the debt ceiling.

Davis noted that it's a positive sign that investors are buying stocks heading into a weekend, especially with how volatile the political climate in Washington has been.

Despite Friday's gains, the trend for the last three weeks in the stock market has been lower. The Dow is down nearly 4 percent since hitting an all-time high on Sept. 18.

While remote, the possibility of the U.S. failing to pay its bills or creditors remains a deep concern to investors.

"Credit markets could freeze, the value of the dollar could plummet, U.S. interest rates could skyrocket, the negative spillovers could reverberate around the world, and there might be a financial crisis and recession that could echo the events of 2008 or worse," the Treasury Department said in a report Thursday.

Investors went through a similar case of political brinkmanship in August 2011, which ultimately led to Standard & Poor's downgrading the United States' credit rating. The S&P 500 fell roughly 12 percent in the weeks that followed.

Because of that precedent, the political noise out of Washington has come to dominate nearly all conversations on Wall Street.

Under normal circumstances, traders would have the government's monthly jobs report to parse through on the first Friday of the month. But the shutdown has forced the Labor Department to postpone the release of September's data for at least the foreseeable future.

And few traders are talking about third quarter corporate earnings reports either, which start next week.

"The market is going to remain completely occupied by Washington until this is resolved," said Bob Doll, chief equity strategist and portfolio manager at Nuveen Asset Management, which oversees $126 billion.

Despite these concerns, Doll and other investors believe the possibility that the U.S. government would willingly default on its debt is remote.

"It's hard to really say how this is going to end, but I think it's unthinkable that it will end with a default of the U.S. government," said Steve Auth, chief investment officer at Federated Investors.

Not all parts of the market were optimistic Friday. Yields for the one-month T-bill that mature around the time the U.S. government is expected to hit its borrowing limit have risen to their highest level in a year. The yield on one-month T-bill was 0.12 percent, up sharply from 0.01 percent five days ago.

Bond market observers said that fund managers for money market funds, who primarily invest in these types of securities, have been selling short-term Treasuries. Fund managers don't want to be stuck holding U.S. government debt maturing around the time the federal government hits its borrowing limit.

Average investors have also been moving out of riskier assets as well. Roughly $300 million was pulled from stock mutual funds last week, according to fund tracking firm Lipper. It was the first time this year that mutual funds saw net outflows, Lipper said. Exchange-traded funds also saw investors head toward the exits, with $2.8 billion leaving ETFs last week.

"We have seen a pull out of (stocks) and investors moving to cash," said Kristina Hooper, head of U.S. investment strategies at Allianz Global Investors. "We're very focused on being there, holding our client's hand and helping them think about the long-term so they're not getting rattled by what is short-term event."

2480


----------



## Boggo

bigdog said:


> Stocks posted modest gains Friday, driven by budding optimism among traders that Washington's bickering politicians can reach an agreement on the budget and on increasing the government's borrowing limit soon.
> 
> "Call it* 'modest optimism,'*" said Frank Davis, director of sales and trading at LEK Securities.




One option based on "modest optimism" (click to expand).


----------



## bigdog

Source: http://finance.yahoo.com 

Investors sent the Standard & Poor's 500 index to its lowest close in a month Monday as few signs emerged of a deal to end the U.S. government shutdown and raise the nation's borrowing limit.

Senate Democrats moved to introduce legislation to raise the nation's debt limit without the unrelated conditions Republicans have said they are seeking. The White House signaled it would accept even a brief extension in borrowing authority to prevent an unprecedented default by the United States.

On Sunday, speaker John Boehner had ruled out a vote in the House of Representatives on a straightforward bill to increase the government's borrowing without concessions from President Barack Obama.

Lawmakers have until Oct. 17 to reach a deal on increasing the nation's debt ceiling. Failure to strike a deal could cause the United States to miss payments on its debt. The Treasury warned last week that a default could push the economy into a downturn even worse than the Great Recession.

"Everything now is predicated on Washington," said Quincy Krosby, market strategist for Prudential. "That is what the market is focused on completely, getting a deal done to avoid a default."

The Standard & Poor's 500 index dropped 14.38 points, or 0.9 percent, to 1,676.12. The Dow Jones industrial average dropped 136.34 points, or 0.9 percent, to 14,936.24. The Nasdaq composite fell 37.38 points, or 1 percent, to 3,770.38.

The losses were broad. Nine of the 10 industry groups in the S&P 500 dropped. Phone companies were the only sector to advance.

Until now, the stock market has mostly moved sideways since the shutdown began at the start of the month, indicating that investors still expect lawmakers to come up with a deal. The S&P 500 is down 0.3 percent in October.

In government bond trading, the yield on the 10-year Treasury note fell to 2.63 percent from 2.65 percent. The yield has fallen close to its lowest in two months. Investors have bought Treasurys on concern that U.S. economic growth will slow as the budget impasse drags on.

There were also other signs that investors are getting gradually more nervous about the debt ceiling deadline.

The VIX index, which rises when investors are getting more concerned about stock fluctuations, rose to its highest in more than three months.

The dollar fell against the euro and the Japanese yen. The dollar index, which measures the strength of the dollar against other currencies, fell for the seventh day in nine. The gauge is close to its lowest since February.

One of the reasons stocks haven't fallen more is that some investors see the current stall as a blip rather than a change in the long-term trend. The Federal Reserve continues to keep up its unprecedented stimulus of the economy, a strategy that has helped support a four-year surge in stocks.

The stock market climbed to record levels in September after the Fed said it would keep buying $85 billion of bonds a month to support the U.S. economy. Many investors had expected the central bank to start reducing its stimulus.

Minutes from the September meeting will be published Wednesday, giving investors insight into the central bank's thinking.

"We would encourage investors with a long-time horizon to think of this as a buying opportunity," said Kristina Hooper, U.S. Head of Investment and Client Strategies at Allianz Global Investors. Many investors, who bought bonds after the financial crisis and the Great Recession, still hold too many bonds in their investment portfolios, she said.

Investors will also be keeping an eye on earnings reports. Companies start releasing financial results for the third quarter this week. S&P 500 companies are projected to report slowing earnings growth for the fourth straight quarter, according to data from S&P Capital IQ. 								

 *The NYSE DOW closed  	LOWER ▼	-136.34	points or ▼	-0.90%	on	Monday, 7 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14936.24	▼	-136.34	▼	-0.90%		
	Nasdaq___	3770.38	▼	-37.38	▼	-0.98%		
	S&P_500__	1676.12	▼	-14.38	▼	-0.85%		
	30_Yr_Bond	3.7	▼	-0.03	▼	-0.80%		

NYSE Volume	 2,676,265,500 	 	 	 	 	  		 
Nasdaq Volume	 1,452,649,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6437.28	▼	-16.6	▼	-0.26%		
	DAX_____	8591.58	▼	-31.39	▼	-0.36%		
	CAC_40__	4165.58	▲	1.33	▲	0.03%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5160.6	▼	-45.3	▼	-0.87%		
	Shanghai_Comp	2174.66	▲	14.64	▲	0.68%		
	Taiwan_Weight	8333.66	▼	-30.89	▼	-0.37%		
	Nikkei_225____	13853.32	▼	-170.99	▼	-1.22%		
	Hang_Seng____	22973.95	▼	-164.59	▼	-0.71%		
	Strait_Times___	3136.59	▼	-1.49	▼	-0.05%		
	NZX_50_Index__	4756.04	▼	-3.34	▼	-0.07%		

http://finance.yahoo.com/news/stocks-fall-government-shutdown-drags-141819333.html

*Stocks fall as government shutdown drags on**

Standard & Poor's 500 closes at one-month low as shutdown drags on and debt deadline nears*

By Steve Rothwell, AP Markets Writer

Investors sent the Standard & Poor's 500 index to its lowest close in a month Monday as few signs emerged of a deal to end the U.S. government shutdown and raise the nation's borrowing limit.

Senate Democrats moved to introduce legislation to raise the nation's debt limit without the unrelated conditions Republicans have said they are seeking. The White House signaled it would accept even a brief extension in borrowing authority to prevent an unprecedented default by the United States.

On Sunday, speaker John Boehner had ruled out a vote in the House of Representatives on a straightforward bill to increase the government's borrowing without concessions from President Barack Obama.

Lawmakers have until Oct. 17 to reach a deal on increasing the nation's debt ceiling. Failure to strike a deal could cause the United States to miss payments on its debt. The Treasury warned last week that a default could push the economy into a downturn even worse than the Great Recession.

"Everything now is predicated on Washington," said Quincy Krosby, market strategist for Prudential. "That is what the market is focused on completely, getting a deal done to avoid a default."

The Standard & Poor's 500 index dropped 14.38 points, or 0.9 percent, to 1,676.12. The Dow Jones industrial average dropped 136.34 points, or 0.9 percent, to 14,936.24. The Nasdaq composite fell 37.38 points, or 1 percent, to 3,770.38.

The losses were broad. Nine of the 10 industry groups in the S&P 500 dropped. Phone companies were the only sector to advance.

Until now, the stock market has mostly moved sideways since the shutdown began at the start of the month, indicating that investors still expect lawmakers to come up with a deal. The S&P 500 is down 0.3 percent in October.

In government bond trading, the yield on the 10-year Treasury note fell to 2.63 percent from 2.65 percent. The yield has fallen close to its lowest in two months. Investors have bought Treasurys on concern that U.S. economic growth will slow as the budget impasse drags on.

There were also other signs that investors are getting gradually more nervous about the debt ceiling deadline.

The VIX index, which rises when investors are getting more concerned about stock fluctuations, rose to its highest in more than three months.

The dollar fell against the euro and the Japanese yen. The dollar index, which measures the strength of the dollar against other currencies, fell for the seventh day in nine. The gauge is close to its lowest since February.

One of the reasons stocks haven't fallen more is that some investors see the current stall as a blip rather than a change in the long-term trend. The Federal Reserve continues to keep up its unprecedented stimulus of the economy, a strategy that has helped support a four-year surge in stocks.

The stock market climbed to record levels in September after the Fed said it would keep buying $85 billion of bonds a month to support the U.S. economy. Many investors had expected the central bank to start reducing its stimulus.

Minutes from the September meeting will be published Wednesday, giving investors insight into the central bank's thinking.

"We would encourage investors with a long-time horizon to think of this as a buying opportunity," said Kristina Hooper, U.S. Head of Investment and Client Strategies at Allianz Global Investors. Many investors, who bought bonds after the financial crisis and the Great Recession, still hold too many bonds in their investment portfolios, she said.

Investors will also be keeping an eye on earnings reports. Companies start releasing financial results for the third quarter this week. S&P 500 companies are projected to report slowing earnings growth for the fourth straight quarter, according to data from S&P Capital IQ.

The data provider predicts that earnings in the July-through-September period rose 3.1 percent, compared with growth of 4.9 percent in the previous quarter.

Among stocks making big moves:

”” Cooper Tire & Rubber fell $3.79, or 12.8 percent, to $25.72 after the company filed a complaint in a Delaware court on Friday asking that the Indian company buying it quickly close on the deal. Investors took the news as a sign that the deal is in jeopardy.

”” Mattel slipped $1.40, or 3.3 percent, to $41.15 after a Goldman Sachs analyst cut his earnings estimates for the toy maker. The investment bank also cut its estimates for Hasbro, which fell 80 cents, or 1.7 percent, to $46.53. Goldman is predicting a tough holiday season for the toy makers as children favor video games.

”” Apple rose $4.72, or 1 percent, to $487.75 after a Jefferies analyst raised his rating and price target on the stock, saying improving margins should help the business until the launch of the iPhone 6.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market's slow bleed got a little worse Tuesday.

The decline is the result of squabbling in Washington over raising the nation's debt limit and a government shutdown that has dragged on for more than a week. Moderate losses for the stock market in the first days of the shutdown have accelerated this week as the U.S. has moved closer to an Oct. 17 deadline for lifting the government's borrowing authority.

Stocks opened flat, moved steadily lower and slumped in the final minutes of trading Tuesday. The loss added to a three-week decline that has knocked the Standard & Poor's 500 index down 4 percent since hitting a record high on Sept. 18.

Swings in the market will likely increase the closer the U.S. gets to the debt deadline without a resolution, said Randy Frederick, Managing Director of Active Trading and Derivatives at the Schwab Center for Financial Research.

"Virtually everyone expects that there will some sort of a resolution," Frederick said. "But I wouldn't be surprised if it only came right before the last minute."

The S&P 500 index dropped 20.67 points, or 1.2 percent, to 1,655.45. It was the biggest one-day drop for the index since Aug. 20. The declines were led by phone companies.

House Republicans have insisted that a temporary funding bill contain concessions on President Barack Obama's health care law. The president wants a bill to simply reopen the government, without strings attached.

Obama said he had told House Speaker John Boehner he's willing to negotiate with Republicans on their priorities, but not under the threat of "economic chaos." Speaking at a press briefing in Washington, the president warned that the U.S. risked a "very deep recession" if the debt ceiling wasn't raised.

The Dow Jones industrial average fell 159.71 points, or 1.1 percent, to 14,776.53. The Nasdaq composite dropped 75.54 points, or 2 percent, to 3,694.83.

Nervous investors also dumped short-term government debt as they worried that the standoff in Washington could jeopardize the nation's ability to pay its bills, including interest on its debt, as early as next week if Congress doesn't raise the borrowing limit.

The yield on Treasury bills maturing in one month soared to 0.28 percent, hitting its highest level since the 2008 financial crisis. The yield was 0.15 percent on Monday and close to zero at the beginning of October.

The yield, which rises as the price of the notes fall, has surged as managers of money-market funds become more wary of holding short-term government debt that matures shortly after the debt deadline. 								

 *The NYSE DOW closed  	LOWER ▼	-159.71	points or ▼	-1.07%	on	Tuesday, 8 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14776.53	▼	-159.71	▼	-1.07%		
	Nasdaq___	3694.83	▼	-75.54	▼	-2.00%		
	S&P_500__	1655.45	▼	-20.67	▼	-1.23%		
	30_Yr_Bond	3.695	▼	-0.007	▼	-0.19%		

NYSE Volume	 3,546,719,000 	 	 	 	 	  		 
Nasdaq Volume	 2,028,486,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6365.83	▼	-71.45	▼	-1.11%		
	DAX_____	8555.89	▼	-35.69	▼	-0.42%		
	CAC_40__	4133.53	▼	-32.05	▼	-0.77%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5148.1	▼	-12.5	▼	-0.24%		
	Shanghai_Comp	2198.2	▲	23.53	▲	1.08%		
	Taiwan_Weight	8375.65	▲	41.99	▲	0.50%		
	Nikkei_225____	13894.61	▲	41.29	▲	0.30%		
	Hang_Seng____	23178.85	▲	204.9	▲	0.89%		
	Strait_Times___	3146.5	▲	9.91	▲	0.32%		
	NZX_50_Index__	4738.68	▼	-17.37	▼	-0.37%		

http://finance.yahoo.com/news/stocks-fall-investors-wait-washington-165149661.html

*Stocks fall as investors wait on Washington

US stocks fall again as investors wait for Washington to edge away from risk of a US default*

By Steve Rothwell, AP Markets Writer

The stock market's slow bleed got a little worse Tuesday.

The decline is the result of squabbling in Washington over raising the nation's debt limit and a government shutdown that has dragged on for more than a week. Moderate losses for the stock market in the first days of the shutdown have accelerated this week as the U.S. has moved closer to an Oct. 17 deadline for lifting the government's borrowing authority.

Stocks opened flat, moved steadily lower and slumped in the final minutes of trading Tuesday. The loss added to a three-week decline that has knocked the Standard & Poor's 500 index down 4 percent since hitting a record high on Sept. 18.

Swings in the market will likely increase the closer the U.S. gets to the debt deadline without a resolution, said Randy Frederick, Managing Director of Active Trading and Derivatives at the Schwab Center for Financial Research.

"Virtually everyone expects that there will some sort of a resolution," Frederick said. "But I wouldn't be surprised if it only came right before the last minute."

The S&P 500 index dropped 20.67 points, or 1.2 percent, to 1,655.45. It was the biggest one-day drop for the index since Aug. 20. The declines were led by phone companies.

House Republicans have insisted that a temporary funding bill contain concessions on President Barack Obama's health care law. The president wants a bill to simply reopen the government, without strings attached.

Obama said he had told House Speaker John Boehner he's willing to negotiate with Republicans on their priorities, but not under the threat of "economic chaos." Speaking at a press briefing in Washington, the president warned that the U.S. risked a "very deep recession" if the debt ceiling wasn't raised.

The Dow Jones industrial average fell 159.71 points, or 1.1 percent, to 14,776.53. The Nasdaq composite dropped 75.54 points, or 2 percent, to 3,694.83.

Nervous investors also dumped short-term government debt as they worried that the standoff in Washington could jeopardize the nation's ability to pay its bills, including interest on its debt, as early as next week if Congress doesn't raise the borrowing limit.

The yield on Treasury bills maturing in one month soared to 0.28 percent, hitting its highest level since the 2008 financial crisis. The yield was 0.15 percent on Monday and close to zero at the beginning of October.

The yield, which rises as the price of the notes fall, has surged as managers of money-market funds become more wary of holding short-term government debt that matures shortly after the debt deadline.

There were other signs of increasing investor nervousness.

The VIX index, which rises when investors are getting more concerned about stock fluctuations, climbed to its highest level of the year.

"Unfortunately, we're just held hostage by what's going on in Washington," said Dan Veru, Chief Investment Officer of Palisade Capital Management.

U.S. companies will start reporting earnings for the third quarter in earnest this week, giving investors something else to think about other than Washington.

Aluminum producer Alcoa, which was recently removed from the Dow Jones industrial average, said Tuesday that it had swung to a profit in the third quarter despite lower aluminum prices, as it was helped by demand from auto makers and by cost-cutting moves.

JPMorgan and Wells Fargo are also among the companies releasing earnings this week.

The yield on the 10-year Treasury note was little changed at 2.63 percent. The yield on the longer-term note has fallen in the past month, suggesting that investors see any potential default as a short-term phenomenon and are predicting that economic growth will remain subdued in the longer term.

Stocks also slumped the last time that the U.S. came close to hitting its debt ceiling in the summer of 2011. The S&P 500 dipped 5 percent between the start of July and Aug. 2 of that year, when President Barack Obama signed into a law a bill that raised the debt ceiling and promised more than $2 trillion in cuts to government spending over a decade. Stocks extended their slide after S&P cut its rating on U.S. government debt on Aug. 5.

Analysts point out, though, that the global economy was in a far more fragile state two years ago than it is now. Europe was still in the throes of its debt crisis, the U.S. economic recovery was less strong and the U.S. budget deficit has shrunk since then.

The dollar fell against the euro and rose against the Japanese yen.

Among stocks making big moves:

”” Jamba plunged $2.53, or 18.8 percent, to $10.94 after the company cut its fiscal 2013 guidance, saying reduced spending by consumers hurt its sales in the third quarter.

”” Xerox fell 26 cents, or 2.5 percent, to $10.14 after the company said the Securities and Exchange Commission is investigating accounting practices at one of its units.

”” McKesson rose $4.09, or 3.2 percent, to $133.72 after The Wall Street Journal reported that the health services company was in talks to acquire its German rival Celesio for about $5.1 billion.


----------



## bigdog

Source: http://finance.yahoo.com 

Signs that lawmakers are making moves to end a stalemate in Washington and avert a U.S. government debt default halted a slump on the stock market Wednesday.

President Barack Obama is making plans to talk with Republican lawmakers at the White House in the coming days as pressure builds on both sides to resolve their deadlock over the federal debt limit and the partial government shutdown before the U.S. Treasury's borrowing authority is exhausted next week.

The stock market's losses accelerated at the start of this week as the shutdown dragged on and both the White House and House Republicans appeared to be coming more entrenched in their positions. The Standard & Poor's 500 index has fallen about 4 percent since climbing to a record on Sept. 18.

"We were quite oversold," Alec Young, a global equity strategist at S&P Capital, said of the market's moderate recovery on Wednesday. "For this really to have any legs, though, we need to see signs of compromise in Washington."

The S&P 500 index gained 0.95 points, or 0.1 percent, to 1,656.40. The index lost 2 percent in the first two days of this week as concerns grew that politicians would fail to reach a deal before the government hits its debt ceiling on Oct. 17.

The Dow Jones industrial average rose 26.45 points, or 0.2 percent, to 14,802.98. The Nasdaq composite fell 17.06 points, or 0.5 percent, to 3,677.78.

The pace of companies reporting third-quarter earnings is also picking up this week, giving investors better insight into how corporate America is doing.

In a move that many investors regarded as a positive for stocks, the White House nominated Federal Reserve Vice Chair Janet Yellen for the top position at the central bank.

Investors expect Yellen to continue the aggressive economic stimulus policies championed by the outgoing Chairman Ben Bernanke.

Yellen's appointment "does add certainty, in the absence of certainty for stocks," said Jim Russell, a regional investment director at U.S. Bank. "It perhaps keeps a little bit of a safety net under equities for the near, or intermittent, term."

The Federal Reserve is buying $85 billion of bonds a month to hold down long-term interest rates and bolster the economy. The central bank's stimulus has been a crucial support for a stock market rally that began more than four years ago.

Investors also got more insight into the Fed's thinking Wednesday after the central bank published minutes from its September meeting Wednesday.

Nearly every member of the Federal Reserve thought the central bank should see more economic data before slowing its bond purchases. But worries about whether a delay would confuse markets made the decision a close call. Many expected policy maker to start cutting stimulus. 								

 *The NYSE DOW closed  	HIGHER ▲	26.45	points or ▲	0.18%	on	Wednesday, 9 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	14802.98	▲	26.45	▲	0.18%		
	Nasdaq___	3677.78	▼	-17.06	▼	-0.46%		
	S&P_500__	1656.4	▲	0.95	▲	0.06%		
	30_Yr_Bond	3.724	▲	0.029	▲	0.78%		

NYSE Volume	 3,566,054,250 	 	 	 	 	  		 
Nasdaq Volume	 2,166,497,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6337.91	▼	-27.92	▼	-0.44%		
	DAX_____	8516.69	▼	-39.2	▼	-0.46%		
	CAC_40__	4127.05	▼	-6.48	▼	-0.16%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5151.6	▲	3.5	▲	0.07%		
	Shanghai_Comp	2211.77	▲	13.57	▲	0.62%		
	Taiwan_Weight	8344.73	▼	-30.92	▼	-0.37%		
	Nikkei_225____	14037.84	▲	143.23	▲	1.03%		
	Hang_Seng____	23033.97	▼	-144.88	▼	-0.63%		
	Strait_Times___	3154.84	▲	8.34	▲	0.27%		
	NZX_50_Index__	4710.63	▼	-28.05	▼	-0.59%		

http://finance.yahoo.com/news/stocks-end-mostly-higher-signs-204735760.html

*Stocks end mostly higher on signs of compromise

Stocks mostly higher on signs of compromise emerging in Washington as debt deadline nears*

By Steve Rothwell, AP Markets Writer

Signs that lawmakers are making moves to end a stalemate in Washington and avert a U.S. government debt default halted a slump on the stock market Wednesday.

President Barack Obama is making plans to talk with Republican lawmakers at the White House in the coming days as pressure builds on both sides to resolve their deadlock over the federal debt limit and the partial government shutdown before the U.S. Treasury's borrowing authority is exhausted next week.

The stock market's losses accelerated at the start of this week as the shutdown dragged on and both the White House and House Republicans appeared to be coming more entrenched in their positions. The Standard & Poor's 500 index has fallen about 4 percent since climbing to a record on Sept. 18.

"We were quite oversold," Alec Young, a global equity strategist at S&P Capital, said of the market's moderate recovery on Wednesday. "For this really to have any legs, though, we need to see signs of compromise in Washington."

The S&P 500 index gained 0.95 points, or 0.1 percent, to 1,656.40. The index lost 2 percent in the first two days of this week as concerns grew that politicians would fail to reach a deal before the government hits its debt ceiling on Oct. 17.

The Dow Jones industrial average rose 26.45 points, or 0.2 percent, to 14,802.98. The Nasdaq composite fell 17.06 points, or 0.5 percent, to 3,677.78.

The pace of companies reporting third-quarter earnings is also picking up this week, giving investors better insight into how corporate America is doing.

Yum Brands, the owner of KFC, Taco Bell and Pizza Hut, was the biggest decliner in the S&P 500 index after its earnings fell short of Wall Street's expectations. The discount retailer Family Dollar also slumped after giving a cautious earnings forecast for next year.

"It looks like there has been some disappointment in the early earnings already," said Colleen Supran, a principal at San Francisco-based Bingham, Osborn & Scarborough, an investment adviser and asset management company.

Yum Brands slumped $4.82, or 6.8 percent, to $66.48. Sales in China have grown weaker and the company cut its full-year earnings forecast after the closing bell Wednesday. Family Dollar fell 74 cents, or 1.1 percent, to $68.71.

In a move that many investors regarded as a positive for stocks, the White House nominated Federal Reserve Vice Chair Janet Yellen for the top position at the central bank.

Investors expect Yellen to continue the aggressive economic stimulus policies championed by the outgoing Chairman Ben Bernanke.

Yellen's appointment "does add certainty, in the absence of certainty for stocks," said Jim Russell, a regional investment director at U.S. Bank. "It perhaps keeps a little bit of a safety net under equities for the near, or intermittent, term."

The Federal Reserve is buying $85 billion of bonds a month to hold down long-term interest rates and bolster the economy. The central bank's stimulus has been a crucial support for a stock market rally that began more than four years ago.

Investors also got more insight into the Fed's thinking Wednesday after the central bank published minutes from its September meeting Wednesday.

Nearly every member of the Federal Reserve thought the central bank should see more economic data before slowing its bond purchases. But worries about whether a delay would confuse markets made the decision a close call. Many expected policy maker to start cutting stimulus.

In government bond trading, the yield on the 10-year Treasury note rose to 2.67 percent from 2.63 percent.

Much of the concern about a potential default by the government bond has been concentrated in short-term government securities known as T-bills.

Portfolio managers at Fidelity Investments have been selling their short-term government debt holdings over the last couple of weeks. The nation's largest manager of money market mutual funds said Wednesday that it no longer holds any U.S. government debt that comes due around the time the nation could hit its borrowing limit.

In commodities trading, trading the price of oil dropped $1.88, or 1.8 percent, to $101.61 a barrel. Gold slumped $17.40, or 1.3 percent, to $1,307.20 an ounce.

The dollar rose against the euro and Japanese yen.

Among other stocks making big moves:

”” Jos. A. Bank Clothiers rose $2.67, or 6.4 percent, to $44.33 after saying it wants to buy rival retailer Men's Wearhouse for $2.3 billion. Men's Wearhouse soared $9.79, or 28 percent, to $45.03.

”” Alcoa rose 16 cents, or 2 percent, to $8.10 after the aluminum maker posted a slim third-quarter profit late Wednesday, reversing a year-ago loss.


----------



## bigdog

Source: http://finance.yahoo.com 

You can almost hear Wall Street exhaling.

The Dow Jones industrial average soared more than 300 points Thursday after Republican leaders and President Barack Obama finally seemed willing to end a 10-day budget standoff that has threatened to leave the U.S. unable to pay its bills.

The news drove the Dow to its biggest point rise this year and ended a three-week funk in stocks. It also injected some calm into the frazzled market for short-term government debt.

Republican leaders said Thursday they would vote to extend the government's borrowing authority for six week. A spokesman for Obama said the president would "likely" sign a bill to increase the nation's ability to borrow money so it can continue paying its bills.

"Congressmen and women are coming to terms with how calamitous it would be if the debt ceiling was not raised," said Joseph Tanious, Global Market Strategist for J.P. Morgan Asset Management. "Cooler heads are prevailing."

The Dow jumped 323.09 points, or 2.2 percent, to close at 15,126.07, its high for the day.

The final surge came even as Senate Majority Leader Harry Reid said Democrats would not negotiate with Republicans as long as the government remains partly shut. Reid's comments were reported about 15 minutes before the market closed at 4 p.m. Eastern time.

Stocks have steadily declined since mid-September as Washington's gridlock got investors worried that the U.S. could default on its debt and wreak havoc on global financial markets. While traders applauded a potential deal between the White House and Congress, more volatility could be ahead if it falls through.

"We don't need some grand bargain, we just need to avoid a default," said Brian Reynolds of chief market strategist at Rosenblatt Securities. "Just don't bring us to the edge again."

The Standard & Poor's 500 index rose 36.16 points, or 2.2 percent, to 1,692.56 and the Nasdaq composite rose 82.97 points, or 2.3 percent, to 3,760.75.

Thursday's gains were extraordinarily broad. Of the 500 stocks in the S&P 500 index, only 11 fell. Banks and industrial stocks rose the most.

A possible compromise between the two political parties could not come soon enough. Treasury Secretary Jack Lew has said the government will hit its borrowing limit on Oct. 17. That would leave the U.S. with enough cash to last just a week or two before a default became a real risk.

A short-term extension of the debt limit is "the right approach," said Jack Ablin, who manages $66 billion as chief investment officer at BMO Private Bank. 								

 *The NYSE DOW closed  	HIGHER ▲	323.09	points or ▲	2.18%	on	Thursday, 10 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15126.07	▲	323.09	▲	2.18%		
	Nasdaq___	3760.75	▲	82.97	▲	2.26%		
	S&P_500__	1692.56	▲	36.16	▲	2.18%		
	30_Yr_Bond	3.742	▲	0.018	▲	0.48%		

NYSE Volume	 3,387,256,000 	 	 	 	 	  		 
Nasdaq Volume	 1,848,692,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6430.49	▲	92.58	▲	1.46%		
	DAX_____	8685.77	▲	169.08	▲	1.99%		
	CAC_40__	4218.11	▲	91.06	▲	2.21%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5146.2	▼	-5.4	▼	-0.10%		
	Shanghai_Comp	2190.93	▼	-20.84	▼	-0.94%		
	Taiwan_Weight	8344.73	▼	-30.92	▼	-0.37%		
	Nikkei_225____	14194.71	▲	156.87	▲	1.12%		
	Hang_Seng____	22951.3	▼	-82.67	▼	-0.36%		
	Strait_Times___	3169.91	▲	15.07	▲	0.48%		
	NZX_50_Index__	4717.38	▲	6.75	▲	0.14%		

http://finance.yahoo.com/news/wall-street-exhales-threat-us-204234357.html

*Wall Street exhales as threat of US default eases

Stocks soar as politicians move closer to a deal to avoid a US default; Dow jumps 300 points*

By Ken Sweet, AP Markets Writer 

You can almost hear Wall Street exhaling.

The Dow Jones industrial average soared more than 300 points Thursday after Republican leaders and President Barack Obama finally seemed willing to end a 10-day budget standoff that has threatened to leave the U.S. unable to pay its bills.

The news drove the Dow to its biggest point rise this year and ended a three-week funk in stocks. It also injected some calm into the frazzled market for short-term government debt.

Republican leaders said Thursday they would vote to extend the government's borrowing authority for six week. A spokesman for Obama said the president would "likely" sign a bill to increase the nation's ability to borrow money so it can continue paying its bills.

"Congressmen and women are coming to terms with how calamitous it would be if the debt ceiling was not raised," said Joseph Tanious, Global Market Strategist for J.P. Morgan Asset Management. "Cooler heads are prevailing."

The Dow jumped 323.09 points, or 2.2 percent, to close at 15,126.07, its high for the day.

The final surge came even as Senate Majority Leader Harry Reid said Democrats would not negotiate with Republicans as long as the government remains partly shut. Reid's comments were reported about 15 minutes before the market closed at 4 p.m. Eastern time.

Stocks have steadily declined since mid-September as Washington's gridlock got investors worried that the U.S. could default on its debt and wreak havoc on global financial markets. While traders applauded a potential deal between the White House and Congress, more volatility could be ahead if it falls through.

"We don't need some grand bargain, we just need to avoid a default," said Brian Reynolds of chief market strategist at Rosenblatt Securities. "Just don't bring us to the edge again."

The Standard & Poor's 500 index rose 36.16 points, or 2.2 percent, to 1,692.56 and the Nasdaq composite rose 82.97 points, or 2.3 percent, to 3,760.75.

Thursday's gains were extraordinarily broad. Of the 500 stocks in the S&P 500 index, only 11 fell. Banks and industrial stocks rose the most.

A possible compromise between the two political parties could not come soon enough. Treasury Secretary Jack Lew has said the government will hit its borrowing limit on Oct. 17. That would leave the U.S. with enough cash to last just a week or two before a default became a real risk.

A short-term extension of the debt limit is "the right approach," said Jack Ablin, who manages $66 billion as chief investment officer at BMO Private Bank.

"It allows politicians to turn down the heat a bit while still keeping the broader issues on the front burner," Ablin said.

In another bullish signal, small-company stocks rose even more than the rest of the market. Those stocks tend to be riskier than large, well-established companies but can also offer investors greater rewards. A sharp increase in small-company stocks means investors are more comfortable taking on risk. The Russell 2000 index jumped 26.04 points, or 2.5 percent, to 1,069.50. It is less than 20 points from an all-time high reached on Oct. 1.

There were also hopeful signs in the market for short-term U.S. government debt. The yield on the one-month Treasury bill eased to 0.21 percent from 0.27 late Wednesday.

The yield had spiked from near zero at the beginning of the month to as high as 0.35 percent Tuesday as investors dumped the bills out of concern that the government might not be able to pay them back when they're due. Investors demand higher yields when they perceive debt as being risky.

One major investor made a move to cut its exposure to short-term U.S. government debt. Fidelity Investments, the nation's largest money market fund manager, said Wednesday it had sold all of its short-term U.S. government debt.

In other government bond trading, the yield on the 10-year Treasury note edged up to 2.68 percent, from 2.67 percent late Wednesday.

Still, the yield on the longer-term note has fallen in the past month. The move suggests that investors see any potential default as a short-term phenomenon and are predicting that economic growth will remain subdued in the long term.


----------



## bigdog

Source: http://finance.yahoo.com 

The closer Washington gets to a deal over the debt ceiling, the higher stocks go.

Stock prices rose for a second day in a row on Friday as investors bet against a U.S. debt default. The Dow Jones industrial average rose 111 points Friday, bringing its two-day gain to 434. Its jump on Thursday was the biggest this year.

Call it the Sigh of Relief Rally.

A partial government shutdown pushed the Dow below 15,000 this week before President Barack Obama and House Republicans met on Thursday to talk about the outlines for a possible deal. Obama and Republican senators met on Friday, too.

Stocks set new highs in mid-September but declined steadily since then as the federal government got closer to the partial shutdown that began Oct. 1. That shutdown entered its 11th day on Friday.

Even more troubling for investors is the expectation that the government will reach its borrowing limit on Oct. 17, which raises the possibility of a default on government borrowing. U.S. government bonds are usually considered the world's safest investment, so even the possibility of a default has rattled investors.

"It's nice when the world does not revolve around politicians making decisions for Wall Street," said Ralph Fogel, investment strategist and partner at Fogel Neale Partners in New York.

The Dow rose 111.04 points, or 0.7 percent, to close at 15,237.11. The Standard & Poor's 500 index rose 10.64 points, or 0.6 percent, to 1,703.20. The Nasdaq rose 31.13 points, or 0.8 percent, to 3,791.87.

Kim Forrest, an equity research analyst at Fort Pitt Capital Group in Pittsburgh, said it's too soon to assume that the meetings in Washington will avert a default.

"That's super that they're talking to each other, but what on Earth is the agreement going to look like, and is it going to stave off default? I don't think we know that yet," Forrest said. "I think the stock market is getting ahead of itself."

All 10 industry groups in the S&P 500 index rose, led by energy and technology companies. 								

 *The NYSE DOW closed  	HIGHER ▲	111.04	points or ▲	0.73%	on	Friday, 11 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15237.11	▲	111.04	▲	0.73%		
	Nasdaq___	3791.87	▲	31.13	▲	0.83%		
	S&P_500__	1703.2	▲	10.64	▲	0.63%		
	30_Yr_Bond	3.735	▼	-0.007	▼	-0.19%		

NYSE Volume	 2,929,394,750 	 	 	 	 	  		 
Nasdaq Volume	 1,713,360,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6487.19	▲	56.7	▲	0.88%		
	DAX_____	8724.83	▲	39.06	▲	0.45%		
	CAC_40__	4219.98	▲	1.87	▲	0.04%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5228.8	▲	82.6	▲	1.61%		
	Shanghai_Comp	2228.15	▲	37.22	▲	1.70%		
	Taiwan_Weight	8349.37	▲	4.64	▲	0.06%		
	Nikkei_225____	14404.74	▲	210.03	▲	1.48%		
	Hang_Seng____	23218.32	▲	267.02	▲	1.16%		
	Strait_Times___	3179.71	▲	9.8	▲	0.31%		
	NZX_50_Index__	4740.77	▲	23.39	▲	0.50%		

http://finance.yahoo.com/news/stocks-rise-debt-talks-continue-171506587.html

*Stocks rise as debt talks continue in Washington

Stocks rise on Wall Street as investors hope for resolution to fiscal impasse in Washington*

By Joshua Freed, AP Business Writer

The closer Washington gets to a deal over the debt ceiling, the higher stocks go.

Stock prices rose for a second day in a row on Friday as investors bet against a U.S. debt default. The Dow Jones industrial average rose 111 points Friday, bringing its two-day gain to 434. Its jump on Thursday was the biggest this year.

Call it the Sigh of Relief Rally.

A partial government shutdown pushed the Dow below 15,000 this week before President Barack Obama and House Republicans met on Thursday to talk about the outlines for a possible deal. Obama and Republican senators met on Friday, too.

Stocks set new highs in mid-September but declined steadily since then as the federal government got closer to the partial shutdown that began Oct. 1. That shutdown entered its 11th day on Friday.

Even more troubling for investors is the expectation that the government will reach its borrowing limit on Oct. 17, which raises the possibility of a default on government borrowing. U.S. government bonds are usually considered the world's safest investment, so even the possibility of a default has rattled investors.

"It's nice when the world does not revolve around politicians making decisions for Wall Street," said Ralph Fogel, investment strategist and partner at Fogel Neale Partners in New York.

The Dow rose 111.04 points, or 0.7 percent, to close at 15,237.11. The Standard & Poor's 500 index rose 10.64 points, or 0.6 percent, to 1,703.20. The Nasdaq rose 31.13 points, or 0.8 percent, to 3,791.87.

Kim Forrest, an equity research analyst at Fort Pitt Capital Group in Pittsburgh, said it's too soon to assume that the meetings in Washington will avert a default.

"That's super that they're talking to each other, but what on Earth is the agreement going to look like, and is it going to stave off default? I don't think we know that yet," Forrest said. "I think the stock market is getting ahead of itself."

All 10 industry groups in the S&P 500 index rose, led by energy and technology companies.

Gold fell, and took gold mining stocks down with it. Gold for December delivery fell $28.70, or 2.2 percent, to $1,268.20 per ounce, its lowest price since mid-July. Mining company Barrick Gold fell 73 cents, or 3.9 percent, to $17.81. Newmont Mining fell 68 cents, or 2.6 percent, to $25.62.

The price of crude oil fell 99 cents to $102.02 a barrel after a report showed growing supplies of oil outside of OPEC.

The yield on the 10-year Treasury note rose slightly to 2.69 percent from 2.68 percent.

The stock gains were enough to put the big indexes back into positive territory for the week, other than the Nasdaq, which fell almost a half-percent this week.

Among other stocks making notable moves:

”” Safeway rose $2.18, or 7 percent, to $33.75, the biggest gain in the S&P 500 index. The grocery store operator said late Thursday that it plans to sell its Chicago-area Dominick's stores, allowing it to concentrate on its more profitable business.

”” Micron Technology fell $1.59, or 9 percent, to $16.84 after the flash memory maker's quarterly profit left investors wanting more.

”” Gap sank $2.65, or 7 percent, to $36.83 after it reported a 3 percent drop in sales for September. Analysts had expected a gain of 1.6 percent. Micron, Gap, and Newmont Mining were the three biggest decliners in the S&P 500.

3086


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks rose Monday, helped by signs that Washington was moving closer to a deal that would avert a default by the U.S. government.

The stock market started the session broadly lower after negotiations between the White House and House Republicans broke down over the weekend. However, stocks erased those losses in early afternoon trading following news that President Barack Obama would meet with Congressional leaders.

The market extended those gains after Senate leaders in both parties said progress was being made.

Democratic Majority Leader Harry Reid opened the Senate session Monday by saying he was "very optimistic we will reach an agreement this week that's reasonable in nature." The Republican Senate leader, Mitch McConnell, seconded Reid's view, saying there had been "a couple of very useful discussions."

The Dow Jones industrial average added 64.15 points, or 0.4 percent, to close at 15,301.26. The index was down as much as 100 points earlier in the day.

The Standard & Poor's 500 index rose 6.94 points, or 0.4 percent, to 1,710.14. The Nasdaq composite rose 23.40 points, or 0.6 percent, to 3,815.27.

The United States will reach the limit of its borrowing authority Thursday, according to estimates from the Treasury Department. If the debt ceiling is not raised, investors fear the U.S. could default on its borrowings in the coming weeks.

Monday's modest gains follow a surge in the market last week on signs of progress between Congressional Republicans and the White House. The Dow jumped 323 points on Thursday, its biggest gain of the year, and rose another 111 points Friday.

Investors continue to express hope that a deal can be reached before the debt crisis causes any lasting damage. In the last few years, political deals over major budget disputes have gone down to the last minute.

"We don't need some well-crafted, detailed deal," said Quincy Krosby, market strategist with Prudential Financial. "We just need to buy some time so they can keep negotiating."

The U.S. government remains partially shut down because House Republicans want to attach conditions to a budget bill that would scale back the country's new health care law. President Barack Obama is insisting that the government be reopened without strings attached. The partial shutdown is entering its third week. 								

 *The NYSE DOW closed  	HIGHER ▲	64.15	points or ▲	0.42%	on	Monday, 14 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15301.26	▲	64.15	▲	0.42%		
	Nasdaq___	3815.27	▲	23.4	▲	0.62%		
	S&P_500__	1710.14	▲	6.94	▲	0.41%		
	30_Yr_Bond	3.745	▲	0.01	▲	0.27%		

NYSE Volume	 2,572,213,500 	 	 	 	 	  		 
Nasdaq Volume	 1,448,180,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6507.65	▲	20.46	▲	0.32%		
	DAX_____	8723.81	▼	-1.02	▼	-0.01%		
	CAC_40__	4222.96	▲	2.98	▲	0.07%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5206.5	▼	-22.3	▼	-0.43%		
	Shanghai_Comp	2237.77	▲	9.63	▲	0.43%		
	Taiwan_Weight	8273.96	▼	-75.41	▼	-0.90%		
	Nikkei_225____	14404.74	▲	210.03	▲	1.48%		
	Hang_Seng____	23218.32	▲	267.02	▲	1.16%		
	Strait_Times___	3165.25	▼	-14.46	▼	-0.45%		
	NZX_50_Index__	4734.17	▼	-6.6	▼	-0.14%		

http://finance.yahoo.com/news/debt-ceiling-talks-push-stocks-202253793.html

*Debt ceiling talks push stocks higher

Stocks rise on signs of progress in debt talks in Washington*

By Ken Sweet, AP Markets Writer 

Stocks rose Monday, helped by signs that Washington was moving closer to a deal that would avert a default by the U.S. government.

The stock market started the session broadly lower after negotiations between the White House and House Republicans broke down over the weekend. However, stocks erased those losses in early afternoon trading following news that President Barack Obama would meet with Congressional leaders.

The market extended those gains after Senate leaders in both parties said progress was being made.

Democratic Majority Leader Harry Reid opened the Senate session Monday by saying he was "very optimistic we will reach an agreement this week that's reasonable in nature." The Republican Senate leader, Mitch McConnell, seconded Reid's view, saying there had been "a couple of very useful discussions."

The Dow Jones industrial average added 64.15 points, or 0.4 percent, to close at 15,301.26. The index was down as much as 100 points earlier in the day.

The Standard & Poor's 500 index rose 6.94 points, or 0.4 percent, to 1,710.14. The Nasdaq composite rose 23.40 points, or 0.6 percent, to 3,815.27.

The United States will reach the limit of its borrowing authority Thursday, according to estimates from the Treasury Department. If the debt ceiling is not raised, investors fear the U.S. could default on its borrowings in the coming weeks.

Monday's modest gains follow a surge in the market last week on signs of progress between Congressional Republicans and the White House. The Dow jumped 323 points on Thursday, its biggest gain of the year, and rose another 111 points Friday.

Investors continue to express hope that a deal can be reached before the debt crisis causes any lasting damage. In the last few years, political deals over major budget disputes have gone down to the last minute.

"We don't need some well-crafted, detailed deal," said Quincy Krosby, market strategist with Prudential Financial. "We just need to buy some time so they can keep negotiating."

The U.S. government remains partially shut down because House Republicans want to attach conditions to a budget bill that would scale back the country's new health care law. President Barack Obama is insisting that the government be reopened without strings attached. The partial shutdown is entering its third week.

Investors should brace for more volatility this week as long as the debt ceiling remains unresolved, said John Lynch, regional chief investment officer for Wells Fargo Private Bank, which manages $170 billion in assets.

"We're basically trading on the news at this point," Lynch said.

Wall Street also has a busy week of corporate earnings to work through. Coca-Cola, Johnson & Johnson and Citigroup report their results Tuesday.

Bond trading is closed in observance of Columbus Day. Due to the holiday, trading volume was lighter than normal at 2.6 billion shares.

Among stocks making big moves:

”” Netflix rose $23.51, or 8 percent, to $324.36 after The Wall Street Journal reported that the video streaming service is in talks to offer its services to cable companies.

”” Merck & Co. fell 54 cents, or 1 percent, to $46.75 after another analyst lowered his rating on the drug developer, which recently announced job cuts and is dealing with the expiration of patents protecting key products.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market was whipsawed Tuesday as the on-again, off-again talk of a debt deal in Washington made investors wonder just how pessimistic they should be.

Stocks were flat or down all day, but the size of the losses waxed and waned depending on which politician was giving a press conference. The market closed with its first loss in a week, with the Dow Jones industrials down 133 points. Yields on short-term government debt rose sharply as investors worried about the possibility of a default.

Indexes were down only slightly early Tuesday, when Republican and Democratic leaders in the Senate reported that a deal over increasing the nation's borrowing limit appeared to be getting closer. But after House Republicans came up with their own competing plan later in the day, and it was rejected by Democrats, stocks fell further.

The stakes are high and the deadline is getting nearer. Unless the borrowing limit is raised, the U.S. will bump up against a Thursday deadline after which it can no longer borrow money to pay its bills, which could lead to a default on government debt. That possibility has rattled markets all month.

After markets closed, Fitch Ratings said it might downgrade the government's AAA bond rating. The agency said it sees a higher risk for default because of the uncertainty over whether Congress will raise the debt limit. Fitch said it will make a final decision by the end of March at the latest, depending on how long any agreement to raise the debt ceiling lasts.

It was clear that traders were hanging on every word out of Washington. The losses on the Dow shrank by about 40 points during a short press conference by House Speaker John Boehner shortly before noon Eastern.

Another reason for Wall Street's pessimism is that any deal reached this week might simply set up another showdown a few months down the road.

The Dow Jones industrial average fell 133.25 points, or 0.9 percent, to 15,168.01. The Standard & Poor's 500 index fell 12.08 points, or 0.7 percent, to 1,698.06. The Nasdaq composite fell 21.26 points, or 0.6 percent, to 3,794.01.

The losses were broad. All 10 industry groups in the S&P 500 fell and three stocks fell for every one that rose on the New York Stock Exchange. 								

 *The NYSE DOW closed  	LOWER ▼	-133.25	points or ▼	-0.87%	on	Tuesday, 15 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15168.01	▼	-133.25	▼	-0.87%		
	Nasdaq___	3794.01	▼	-21.26	▼	-0.56%		
	S&P_500__	1698.06	▼	-12.08	▼	-0.71%		
	30_Yr_Bond	3.777	▲	0.032	▲	0.85%		

NYSE Volume	 3,315,421,750 	 	 	 	 	  		 
Nasdaq Volume	 1,702,319,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6549.11	▲	41.46	▲	0.64%		
	DAX_____	8804.44	▲	80.63	▲	0.92%		
	CAC_40__	4256.02	▲	33.06	▲	0.78%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5259.2	▲	52.7	▲	1.01%		
	Shanghai_Comp	2233.41	▼	-4.36	▼	-0.19%		
	Taiwan_Weight	8367.88	▲	93.92	▲	1.14%		
	Nikkei_225____	14441.54	▲	36.8	▲	0.26%		
	Hang_Seng____	23336.52	▲	118.2	▲	0.51%		
	Strait_Times___	3165.25	▼	-14.46	▼	-0.45%		
	NZX_50_Index__	4747.92	▲	13.76	▲	0.29%		

http://finance.yahoo.com/news/us-stocks-down-investors-wait-171302570.html

*US stocks down as investors wait on debt news**

Stocks fall on Wall Street as debt deal talks in Washington fail to impress investors*

By Joshua Freed, AP Business Writer

The stock market was whipsawed Tuesday as the on-again, off-again talk of a debt deal in Washington made investors wonder just how pessimistic they should be.

Stocks were flat or down all day, but the size of the losses waxed and waned depending on which politician was giving a press conference. The market closed with its first loss in a week, with the Dow Jones industrials down 133 points. Yields on short-term government debt rose sharply as investors worried about the possibility of a default.

Indexes were down only slightly early Tuesday, when Republican and Democratic leaders in the Senate reported that a deal over increasing the nation's borrowing limit appeared to be getting closer. But after House Republicans came up with their own competing plan later in the day, and it was rejected by Democrats, stocks fell further.

The stakes are high and the deadline is getting nearer. Unless the borrowing limit is raised, the U.S. will bump up against a Thursday deadline after which it can no longer borrow money to pay its bills, which could lead to a default on government debt. That possibility has rattled markets all month.

After markets closed, Fitch Ratings said it might downgrade the government's AAA bond rating. The agency said it sees a higher risk for default because of the uncertainty over whether Congress will raise the debt limit. Fitch said it will make a final decision by the end of March at the latest, depending on how long any agreement to raise the debt ceiling lasts.

It was clear that traders were hanging on every word out of Washington. The losses on the Dow shrank by about 40 points during a short press conference by House Speaker John Boehner shortly before noon Eastern.

Another reason for Wall Street's pessimism is that any deal reached this week might simply set up another showdown a few months down the road.

The Dow Jones industrial average fell 133.25 points, or 0.9 percent, to 15,168.01. The Standard & Poor's 500 index fell 12.08 points, or 0.7 percent, to 1,698.06. The Nasdaq composite fell 21.26 points, or 0.6 percent, to 3,794.01.

The losses were broad. All 10 industry groups in the S&P 500 fell and three stocks fell for every one that rose on the New York Stock Exchange.

Uri Landesman, president of Platinum Partners, a New York-based investment management group, said he thinks there will be a deal, but that investors are making a mistake to focus on it so heavily since the economy still has so many risks. Investors aren't appreciating the risk of poor economic reports, slow profit growth and the possibility of flare-ups in conflicts with Iran and Syria, which could cause a spike in energy prices.

"There's a lot more risk to the downside," Landesman said. "I don't think things are that robust out there."

Among stocks making big moves:

”” FedEx shareholders were happy about expanded stock buybacks. FedEx's stock rose $4.71, or 4 percent, to $120.08.

”” Charles Schwab rose $1.02, almost 5 percent, to $23.03 after the brokerage company said its quarter profit rose 19 percent as trading and interest revenue increased.

”” Advertising company Omnicom Group reported adjusted results and revenue that were higher than analysts had expected. Its stock rose $1.01, almost 2 percent, to $64.96.

Parts of the bond market have started to show signs of stress.

The yield on the 10-year T-note rose to 2.73 percent from 2.69 percent on Friday. Bond trading was closed Monday for Columbus Day. Yields on three-month and six-month T-bills also rose.

The yield on the one-month T-bill nearly doubled in only a few hours, going from 0.18 percent early Tuesday to 0.34 percent by the afternoon. It's considered to be the T-bill most likely to be affected by a federal government default. Money market funds owned by Fidelity and JPMorgan Chase & Co. have been selling off their one-month T-bill holdings to limit their exposure to the security.

The price of oil fell $1.20 to close at $101.21 as negotiations over Iran's nuclear abilities began.


----------



## bigdog

Source: http://finance.yahoo.com 

Wall Street finally got the deal it's been waiting for.

A last-minute agreement to keep the U.S. from defaulting on its debt and reopen the government sent the stock market soaring Wednesday, pushing the Standard & Poor's 500 index close to a record high.

On Wednesday, Senate leaders agreed to fund the government through Jan. 15 and extend government borrowing through Feb. 7.

The Senate deal was reached just hours before a Thursday deadline that Treasury Secretary Jacob Lew had set to raise the $16.7 trillion debt limit. The government has been partially shut for 16 days because House Republicans had demanded changes to President Barack Obama's health care law before passing a budget.

The agreement follows a month of political gridlock that threatened to make America a deadbeat and derail global financial markets. Investors have stayed largely calm throughout in the current drama in Washington, with the S&P 500 actually gaining 2.4 percent since the shutdown began on Oct. 1.

Wall Street had bet that politicians wouldn't let the U.S. default, a calamity economists said could paralyze lending and push the economy into another recession.

"We knew it was going to be dramatic, but the consequences of a U.S. default are just so severe that the base case was always that a compromise was going to be reached," said Tom Franks, a managing director at TIAA CREF, a large retirement funds manager.

Congress was racing to pass the legislation Wednesday.

If the deal wraps up soon, investors can turn their attention back to basics like earnings and the economy. Corporations have begun to report third-quarter earnings, but Wall Street has been glued to the budget brinksmanship. Overall earnings at companies in the S&P 500 index is forecast to grow 3.1 percent from a year earlier, according to data from S&P Capital IQ. That's slower than the growth of 4.9 percent in the second quarter and 5.2 percent in the first quarter.

It'll be harder for Wall Street to get an up-to-date view of the economy because the partial government shutdown that began Oct. 1 has kept agencies from releasing key reports on trends like hiring. In general, though, the economy has been expanding this year.

Traders have been correctly betting that Washington would reach a deal. To be sure, the Dow went through rough patches over the last month, at one point falling as much as 900 points below an all-time high reached on Sept. 18. The Dow has seen seven triple-digit moves in the last 10 trading days.

On Wednesday, the Dow Jones climbed 205.82 points, or 1.4 percent, to 15,373.83. The S&P 500 gained 23.48, or 1.4 percent, at 1,721.54. That's only four points below its record close of 1,725.52 set Sept. 18.

The Nasdaq composite climbed 45.42, or 1.2 percent, to 3,839.43.

The feeling among stock traders in recent days was that panicking and pulling money out of stocks could leave them missing out on a rally after Washington finally came to an agreement. Investors are also becoming inured to Washington's habit of reaching budget and debt deals at the last minute.

"Investors have become, unfortunately, accustomed to some of the dysfunction," said Eric Wiegand, a senior portfolio manager at U.S. Bank. "It's become more the norm than the exception."

In the summer of 2011, the S&P 500 index plunged 17 percent between early July and early August as lawmakers argued over raising the debt limit and Standard & Poor's cut the U.S. credit rating from 'AAA,' its highest ranking. The market later recovered.

Stocks also slumped in the last two weeks of 2012 as investors fretted that the U.S. would go over the "fiscal cliff" as lawmakers argued over a series of automatic government spending cuts. Stock also rebounded and embarked on a strong rally that has pushed the S&P 500 up almost 21 percent this year.								

 *The NYSE DOW closed  	HIGHER ▲	205.82	points or ▲	1.36%	on	Wednesday, 16 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15373.83	▲	205.82	▲	1.36%		
	Nasdaq___	3839.43	▲	45.42	▲	1.20%		
	S&P_500__	1721.54	▲	23.48	▲	1.38%		
	30_Yr_Bond	3.724	▼	-0.053	▼	-1.40%		

NYSE Volume	 3,546,334,500 	 	 	 	 	  		 
Nasdaq Volume	 1,683,306,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6571.59	▲	22.48	▲	0.34%		
	DAX_____	8846	▲	41.56	▲	0.47%		
	CAC_40__	4243.72	▼	-12.3	▼	-0.29%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5264.4	▲	5.2	▲	0.10%		
	Shanghai_Comp	2193.07	▼	-40.34	▼	-1.81%		
	Taiwan_Weight	8332.18	▼	-35.7	▼	-0.43%		
	Nikkei_225____	14467.14	▲	25.6	▲	0.18%		
	Hang_Seng____	23228.33	▼	-108.19	▼	-0.46%		
	Strait_Times___	3174.03	▲	8.78	▲	0.28%		
	NZX_50_Index__	4758.77	▲	10.85	▲	0.23%		

http://news.yahoo.com/stocks-surge-senate-reaches-deal-us-debt-200825233--finance.html

*Stocks Surge After Senate Reaches Deal on US Debt*
NEW YORK October 16, 2013 (AP)
By STEVE ROTHWELL AP Markets Writer

Wall Street finally got the deal it's been waiting for.

A last-minute agreement to keep the U.S. from defaulting on its debt and reopen the government sent the stock market soaring Wednesday, pushing the Standard & Poor's 500 index close to a record high.

On Wednesday, Senate leaders agreed to fund the government through Jan. 15 and extend government borrowing through Feb. 7.

The Senate deal was reached just hours before a Thursday deadline that Treasury Secretary Jacob Lew had set to raise the $16.7 trillion debt limit. The government has been partially shut for 16 days because House Republicans had demanded changes to President Barack Obama's health care law before passing a budget.

The agreement follows a month of political gridlock that threatened to make America a deadbeat and derail global financial markets. Investors have stayed largely calm throughout in the current drama in Washington, with the S&P 500 actually gaining 2.4 percent since the shutdown began on Oct. 1.

Wall Street had bet that politicians wouldn't let the U.S. default, a calamity economists said could paralyze lending and push the economy into another recession.

"We knew it was going to be dramatic, but the consequences of a U.S. default are just so severe that the base case was always that a compromise was going to be reached," said Tom Franks, a managing director at TIAA CREF, a large retirement funds manager.

Congress was racing to pass the legislation Wednesday.

If the deal wraps up soon, investors can turn their attention back to basics like earnings and the economy. Corporations have begun to report third-quarter earnings, but Wall Street has been glued to the budget brinksmanship. Overall earnings at companies in the S&P 500 index is forecast to grow 3.1 percent from a year earlier, according to data from S&P Capital IQ. That's slower than the growth of 4.9 percent in the second quarter and 5.2 percent in the first quarter.

It'll be harder for Wall Street to get an up-to-date view of the economy because the partial government shutdown that began Oct. 1 has kept agencies from releasing key reports on trends like hiring. In general, though, the economy has been expanding this year.

Traders have been correctly betting that Washington would reach a deal. To be sure, the Dow went through rough patches over the last month, at one point falling as much as 900 points below an all-time high reached on Sept. 18. The Dow has seen seven triple-digit moves in the last 10 trading days.

On Wednesday, the Dow Jones climbed 205.82 points, or 1.4 percent, to 15,373.83. The S&P 500 gained 23.48, or 1.4 percent, at 1,721.54. That's only four points below its record close of 1,725.52 set Sept. 18.

The Nasdaq composite climbed 45.42, or 1.2 percent, to 3,839.43.

The feeling among stock traders in recent days was that panicking and pulling money out of stocks could leave them missing out on a rally after Washington finally came to an agreement. Investors are also becoming inured to Washington's habit of reaching budget and debt deals at the last minute.

"Investors have become, unfortunately, accustomed to some of the dysfunction," said Eric Wiegand, a senior portfolio manager at U.S. Bank. "It's become more the norm than the exception."

In the summer of 2011, the S&P 500 index plunged 17 percent between early July and early August as lawmakers argued over raising the debt limit and Standard & Poor's cut the U.S. credit rating from 'AAA,' its highest ranking. The market later recovered.

Stocks also slumped in the last two weeks of 2012 as investors fretted that the U.S. would go over the "fiscal cliff" as lawmakers argued over a series of automatic government spending cuts. Stock also rebounded and embarked on a strong rally that has pushed the S&P 500 up almost 21 percent this year.

Some were glad that investors could now turn their focus back to the traditional drivers of the market rather than worrying whether the latest dispatch from Washington would shake stocks.

"It's a little bit silly in the short term for markets to go down so much on press conferences and then to go up so much on rumors," said Brad Sorensen, director of market and sector research at the Schwab Center for Financial Research. "We've urged investors to pull back a little bit and look at the longer term."

The market for U.S. Treasury bills reflected relief among bond investors. The yield on the one-month T-bill dropped to 0.13 percent from 0.40 percent Wednesday morning, an extraordinarily large move. The decline means that investors consider the bill, which would have come due around the time a default may have occurred, to be less risky.

The yield on the 10-year Treasury note edged down to 2.67 percent from 2.74 percent Tuesday. Yields on longer-term U.S. government debt haven't moved as much as those on short-term debt because investors believed that the government would work out a longer-term solution.

Among stocks making big moves:

”” Bank of America rose 32 cents, or 2.2 percent, to $14.56 after the second-largest U.S. bank reported a surge in third-quarter earnings.

”” Stanley Black & Decker plunged $12.70, or 14.3 percent, to $76.75 after the company lowered its profit forecast for the year, citing slower growth in emerging markets and a hit from the U.S. government shutdown.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market hit an all-time high Thursday as Wall Street put the government shutdown and debt ceiling crisis behind it and focused on corporate earnings.

The Standard & Poor's 500 index rose 11.61 points, or 0.7 percent, to close at 1,733.15 ”” a record close. Nine of the 10 industry groups in the index finished higher, with technology the only group that fell.

The market rose throughout the day as investors got back to focusing on corporate earnings and economic data. American Express and Verizon rose the most in the Dow Jones industrial average after reporting earnings that beat expectations from financial analysts.

The Dow ended the day down two points, or 0.01 percent, to 15,371.65. The index of 30 big U.S. companies was held back by declines in IBM, Goldman Sachs and UnitedHealth.

IBM's third-quarter revenue fell and missed Wall Street's forecast by more than $1 billion. The stock closed down $11.90, or 6 percent, to $174.80. Earlier, it had touched its lowest level of the past year ”” $172.57

Goldman Sachs also weighed down the index. The investment bank's revenue fell sharply as trading in bonds and other securities slowed. Goldman fell $3.93, or 2.4 percent, to $158.32.

The focus on earnings is a change of pace for Wall Street, which had been absorbed in Washington's political drama over the last month.

Now that the U.S. has avoided the possibility of default, at least for a few months, earnings news is expected to dominate trading for the next couple weeks. So far, only 79 companies in the S&P 500 have reported third-quarter results, according to S&P Capital IQ. Analysts expect earnings at those companies to increase 3.3 percent over the same period a year ago.

"I don't think we can completely close the door on the debt ceiling chapter just yet, but we can get back to the stuff that really matters," said Jonathan Corpina, who manages trading on the floor of the New York Stock Exchange for Meridian Equity Partners.

Other indexes also posted noticeable gains. The Nasdaq composite closed up 23.71 points, or 0.6 percent, to 3,863.15.

The Russell 2000 index, which is made up of primarily smaller, riskier companies, also hit an all-time high. It closed up 9.85 points, or 0.9 percent, to 1,102.27 and has risen nearly 30 percent this year.

Market analysts think the 16-day partial shutdown of the government caused billions of dollars of damage to the economy. Government employees were furloughed, contracts were delayed, and tourism declined at national parks. 								

 *The NYSE DOW closed  	LOWER ▼	-2.18	points or ▼	-0.01%	on	Thursday, 17 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15371.65	▼	-2.18	▼	-0.01%		
	Nasdaq___	3863.15	▲	23.71	▲	0.62%		
	S&P_500__	1733.15	▲	11.61	▲	0.67%		
	30_Yr_Bond	3.657	▼	-0.067	▼	-1.80%		

NYSE Volume	 3,434,097,500 	 	 	 	 	  		 
Nasdaq Volume	 1,931,460,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6576.16	▲	4.57	▲	0.07%		
	DAX_____	8811.98	▼	-34.02	▼	-0.38%		
	CAC_40__	4239.64	▼	-4.08	▼	-0.10%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5281.9	▲	17.5	▲	0.33%		
	Shanghai_Comp	2188.54	▼	-4.53	▼	-0.21%		
	Taiwan_Weight	8374.68	▲	42.5	▲	0.51%		
	Nikkei_225____	14586.51	▲	119.37	▲	0.83%		
	Hang_Seng____	23094.88	▼	-133.45	▼	-0.57%		
	Strait_Times___	3186.62	▲	12.59	▲	0.40%		
	NZX_50_Index__	4776	▲	17.23	▲	0.36%		

http://finance.yahoo.com/news/p-500-reaches-time-high-195559455.html

*S&P 500 reaches all-time high after US debt deal**

S&P 500 reaches all-time high after Washington defuses US default threat, reopens government*

By Ken Sweet, AP Markets Writer

The stock market hit an all-time high Thursday as Wall Street put the government shutdown and debt ceiling crisis behind it and focused on corporate earnings.

The Standard & Poor's 500 index rose 11.61 points, or 0.7 percent, to close at 1,733.15 ”” a record close. Nine of the 10 industry groups in the index finished higher, with technology the only group that fell.

The market rose throughout the day as investors got back to focusing on corporate earnings and economic data. American Express and Verizon rose the most in the Dow Jones industrial average after reporting earnings that beat expectations from financial analysts.

The Dow ended the day down two points, or 0.01 percent, to 15,371.65. The index of 30 big U.S. companies was held back by declines in IBM, Goldman Sachs and UnitedHealth.

IBM's third-quarter revenue fell and missed Wall Street's forecast by more than $1 billion. The stock closed down $11.90, or 6 percent, to $174.80. Earlier, it had touched its lowest level of the past year ”” $172.57

Goldman Sachs also weighed down the index. The investment bank's revenue fell sharply as trading in bonds and other securities slowed. Goldman fell $3.93, or 2.4 percent, to $158.32.

The focus on earnings is a change of pace for Wall Street, which had been absorbed in Washington's political drama over the last month.

Now that the U.S. has avoided the possibility of default, at least for a few months, earnings news is expected to dominate trading for the next couple weeks. So far, only 79 companies in the S&P 500 have reported third-quarter results, according to S&P Capital IQ. Analysts expect earnings at those companies to increase 3.3 percent over the same period a year ago.

"I don't think we can completely close the door on the debt ceiling chapter just yet, but we can get back to the stuff that really matters," said Jonathan Corpina, who manages trading on the floor of the New York Stock Exchange for Meridian Equity Partners.

Other indexes also posted noticeable gains. The Nasdaq composite closed up 23.71 points, or 0.6 percent, to 3,863.15.

The Russell 2000 index, which is made up of primarily smaller, riskier companies, also hit an all-time high. It closed up 9.85 points, or 0.9 percent, to 1,102.27 and has risen nearly 30 percent this year.

Market analysts think the 16-day partial shutdown of the government caused billions of dollars of damage to the economy. Government employees were furloughed, contracts were delayed, and tourism declined at national parks.

Analysts at Wells Fargo said the shutdown likely lowered economic growth by 0.5 percentage point.

There remain broader concerns that Democrats and Republicans won't be able to draw up a longer-term budget. The deal approved late Wednesday only permits the Treasury Department to borrow through Feb. 7 and fund the government through Jan. 15.

"The agreement represents another temporary fix that pushes fiscal uncertainty into the early months of next year," Wells Fargo analysts said.

Despite the worries, signs of normalcy returned to financial markets Thursday.

The one-month Treasury bill was back to trading at a yield of 0.01 percent, about where it was a month ago, and down sharply from 0.35 percent on Tuesday.

Usually a staid, conservative security, the one-month T-bill was subjected to a wave of selling at the beginning of the month. Investors feared the T-bill would be the first piece of government debt to be affected by a U.S. default if the debt ceiling was breached and the federal government could no longer pay its obligations.

The yield on the more closely-watched 10-year Treasury note fell to 2.60 percent from 2.67 percent Wednesday.

Among other stock moves:

”” Verizon rose $1.65, or 4 percent, to $48.90. The telecommunications company earned an adjusted 77 cents per share for the recent quarter, beating expectations of financial analysts.

”” UnitedHealth Group dropped $3.82, or 5 percent, to $71.37. The health insurance giant narrowed its 2013 profit forecast, instead of raising it, giving some analysts pause.


----------



## bigdog

Source: http://finance.yahoo.com 

Investors shifted their focus from politics to profits on Friday and liked what they saw, pushing the Standard & Poor's 500 index further into record territory.

Two days after Congress struck a last-minute deal to keep the U.S. from a devastating default on its debt, investors were bidding up stocks on surprisingly good profits from companies in industries both old and new.

General Electric and Morgan Stanley rose after reporting higher earnings than financial analysts had expected. Google surged nearly 14 percent, topping $1,000 a share for the first time.

"We've moved from the dysfunction of Washington to the reality of the global economy, and it looks pretty good," said Ron Florance, deputy chief investment officer at Wells Fargo Private Bank.

Investors were also encouraged by a rebound in Chinese economic growth in the latest quarter.

The rise in stocks follows a budget standoff in Washington that kept hundreds of thousands of federal workers from their jobs for 16 days and could have forced the government to miss payments on its debt. Congress agreed Wednesday to fund the government and allow it to borrow through early next year.

The S&P 500 set a record for the second straight day. The broad index of 500 companies, up 22 percent this year, added 11.35 points, or 0.7 percent, to a record 1,744.50. The gain this year is the index's best since 2009, when it began its bull run. Since its recession low in March of that year, the S&P 500 has soared 158 percent, driven largely by a rebound in earnings, a housing recovery, greater investor confidence and the economic stimulus program by the Federal Reserve.

The Nasdaq composite was up 51.13 points, or 1.3 percent, at 3,914.28. The Dow Jones industrial average rose 28 points, or 0.2 percent, to 15,399.65, and is 277 points below its own record.

Christine Short, a senior manager at S&P Capital IQ, said investors are relieved that Washington pulled back from the abyss by extending the U.S. borrowing authority until Feb. 7. But she's not so sure how long the celebratory mood might last.

"We just bought ourselves a little more time, and the market seems to like that," she said. "But we're likely to go through the same cycle again in three months."

Another concern is earnings. Despite good reports from a few big companies Friday, the third-quarter reporting season has just started and most companies aren't expected to post blowout results.

Earnings for S&P 500 companies are expected to have grown 3.4 percent from a year earlier, the smallest quarterly increase in a year, according to S&P Capital IQ. At the start of 2013, third-quarter earnings were expected to grow at nearly triple that pace. 								

 *The NYSE DOW closed  	HIGHER ▲	28	points or ▲	0.18%	on	Friday, 18 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15399.65	▲	28	▲	0.18%		
	Nasdaq___	3914.28	▲	51.13	▲	1.32%		
	S&P_500__	1744.5	▲	11.35	▲	0.65%		
	30_Yr_Bond	3.654	▼	-0.003	▼	-0.08%		

NYSE Volume	 3,673,891,250 	 	 	 	 	  		 
Nasdaq Volume	 1,899,810,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6622.58	▲	46.42	▲	0.71%		
	DAX_____	8865.1	▲	53.12	▲	0.60%		
	CAC_40__	4286.03	▲	46.39	▲	1.09%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5321	▲	39.1	▲	0.74%		
	Shanghai_Comp	2193.78	▲	5.24	▲	0.24%		
	Taiwan_Weight	8441.19	▲	66.51	▲	0.79%		
	Nikkei_225____	14561.54	▼	-24.97	▼	-0.17%		
	Hang_Seng____	23340.1	▲	245.22	▲	1.06%		
	Strait_Times___	3192.9	▲	6.28	▲	0.20%		
	NZX_50_Index__	4758.59	▼	-17.41	▼	-0.36%		

http://finance.yahoo.com/news/p-500-pushes-further-record-152943976.html

*S&P 500 pushes further into record territory

S&P 500 pushes further into record territory on strong earnings from GE, Google, others*

By Bernard Condon, AP Business Writer

Investors shifted their focus from politics to profits on Friday and liked what they saw, pushing the Standard & Poor's 500 index further into record territory.

Two days after Congress struck a last-minute deal to keep the U.S. from a devastating default on its debt, investors were bidding up stocks on surprisingly good profits from companies in industries both old and new.

General Electric and Morgan Stanley rose after reporting higher earnings than financial analysts had expected. Google surged nearly 14 percent, topping $1,000 a share for the first time.

"We've moved from the dysfunction of Washington to the reality of the global economy, and it looks pretty good," said Ron Florance, deputy chief investment officer at Wells Fargo Private Bank.

Investors were also encouraged by a rebound in Chinese economic growth in the latest quarter.

The rise in stocks follows a budget standoff in Washington that kept hundreds of thousands of federal workers from their jobs for 16 days and could have forced the government to miss payments on its debt. Congress agreed Wednesday to fund the government and allow it to borrow through early next year.

The S&P 500 set a record for the second straight day. The broad index of 500 companies, up 22 percent this year, added 11.35 points, or 0.7 percent, to a record 1,744.50. The gain this year is the index's best since 2009, when it began its bull run. Since its recession low in March of that year, the S&P 500 has soared 158 percent, driven largely by a rebound in earnings, a housing recovery, greater investor confidence and the economic stimulus program by the Federal Reserve.

The Nasdaq composite was up 51.13 points, or 1.3 percent, at 3,914.28. The Dow Jones industrial average rose 28 points, or 0.2 percent, to 15,399.65, and is 277 points below its own record.

Christine Short, a senior manager at S&P Capital IQ, said investors are relieved that Washington pulled back from the abyss by extending the U.S. borrowing authority until Feb. 7. But she's not so sure how long the celebratory mood might last.

"We just bought ourselves a little more time, and the market seems to like that," she said. "But we're likely to go through the same cycle again in three months."

Another concern is earnings. Despite good reports from a few big companies Friday, the third-quarter reporting season has just started and most companies aren't expected to post blowout results.

Earnings for S&P 500 companies are expected to have grown 3.4 percent from a year earlier, the smallest quarterly increase in a year, according to S&P Capital IQ. At the start of 2013, third-quarter earnings were expected to grow at nearly triple that pace.

What's driven stock prices up this year hasn't been earnings as much as investors' willingness to value them more. At the start of the year, stock buyers were paying $14 for every $1 of S&P 500 earnings, according to S&P Capital IQ. Now, they are paying more than $16.

Investors will have a better idea of the U.S. corporate profit picture next week when several big companies report results, including McDonalds on Monday and Boeing and Caterpillar on Wednesday and Ford on Thursday.

Google jumped $122.61 to $1,011.41 Friday. It reported a 36 percent jump in earnings after the stock market closed Thursday. An erosion in Google's ad pricing was more than offset by a big increase in the frequency of clicks on Google's ads.

General Electric rose 87 cents, or 3.5 percent, to $25.55, after topping analysts' expectations for net income, excluding charges for shedding its media and banking operations. Stock of GE, which makes jet engines and other industrial products, is the highest it's been since the start of the financial crisis in September 2008, when some investors doubted the company could survive intact.

Morgan Stanley rose 76 cents, to $29.69, a gain of 2.6 percent. The investment bank reported that its earnings nearly doubled on strong results in stock sales and trading, beating analysts' estimates. Morgan Stanley is up 55 percent this year, the most among major banks and nearly twice the gain of the next-best performing bank stock, Citigroup.

Nine of the 10 industries in the S&P 500 rose, led by information technology companies, up 1.8 percent. Stocks in the health-care industry fell 0.4 percent.

The Chinese government reported Friday that the world's second-largest economy grew by 7.8 percent in the three months ending in September, a pickup from the previous quarter. Investors have worried that slower growth would not only hurt big commodity exporters like Brazil and Australia but drag down the global economy, too.

Among other stocks making news:

”” Chipotle Mexican Grill jumped $70.67, or 16 percent, to $509.74, the biggest gain in the S&P 500. The company reported that its third-quarter earnings rose 15 percent on higher traffic to its 1,500 restaurants.

”” Voxeljet, a 3-D printing company from Germany, more than doubled in its debut offering, jumping $15.80 to $28.80. The company makes printers that build 3-D objects by layering plastic and other materials atop each other. It raised $84.5 million in its initial public offering.

In bond trading, the yield on the 10-year Treasury note was unchanged at 2.59 percent.

3532


----------



## bigdog

Source: http://finance.yahoo.com 

The Standard & Poor's 500 index eked out the smallest of gains to set a record high Monday as investors assessed third-quarter earnings news.

Earnings will hold investors' attention this week as major U.S. companies including McDonald's, Boeing and Procter & Gamble report their results. Rising profits have been one of the key supports for this year's rally in stocks.

Toymaker Hasbro and the V.F. Corporation, which owns clothing brands including Wrangler and The North Face, were among the biggest gainers in the S&P 500 after reporting earnings that beat analysts' expectations. McDonalds dipped after reporting disappointing revenue.

The S&P 500 closed up a fraction of a point at 1,744.66, an all-time high, its third consecutive record close. Stocks climbed last week after Washington reached a deal to end a 16-day government shutdown and avert a default on the nation's debt.

The index is up 22 percent so far this year, putting it on track for its best year since 2009.

The Dow Jones industrial average edged down 7.45 points, or 0.1 percent, to 15,392.20. The Nasdaq composite rose 5.77 points, or 0.2 percent, to 3,920.05.

Stocks will likely continue adding to their gains, at least until the end of the year, as investors get more confident that the market's rally is sustainable, said Joe Bell, a senior equities analyst at Schaeffer's Investment Research.

"We've had a pretty decent run here," Bell said. "It wouldn't surprise me if we saw the momentum slow a bit through the end of October and then have a nice rally through November and December." 		

Companies in the S&P 500 are expected to report earnings growth of 3.2 percent for the July-to-September period, according to the latest data from S&P Capital IQ. About 60 percent of companies that have reported earnings have beaten analysts' expectations.

"Earnings so far have been excellent," said Jerry Braakman, chief investment officer of First American Trust. "Earnings are coming in and beating (expectations) by a penny here and there, and we're very comfortable with that."

Company earnings will likely continue to grow as the outlook for the global economy brightens, as Europe continues to recover from its recession and growth in China picks up, Braakman said.

The continued stimulus for the economy from the Federal Reserve should also help support the economy and corporate earnings. The U.S. central bank is currently buying $85 billion of bonds every month to support the economy.


 *The NYSE DOW closed  	LOWER ▼	-7.45	points or ▼	-0.05%	on	Monday, 21 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15392.2	▼	-7.45	▼	-0.05%		
	Nasdaq___	3920.05	▲	5.77	▲	0.15%		
	S&P_500__	1744.66	▲	0.16	▲	0.01%		
	30_Yr_Bond	3.681	▲	0.027	▲	0.74%		

NYSE Volume	 3,048,798,000 	 	 	 	 	  		 
Nasdaq Volume	 1,716,672,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6654.2	▲	31.62	▲	0.48%		
	DAX_____	8867.22	▲	2.12	▲	0.02%		
	CAC_40__	4276.92	▼	-9.11	▼	-0.21%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5351.5	▲	30.5	▲	0.57%		
	Shanghai_Comp	2229.24	▲	35.46	▲	1.62%		
	Taiwan_Weight	8419.32	▼	-21.87	▼	-0.26%		
	Nikkei_225____	14693.57	▲	132.03	▲	0.91%		
	Hang_Seng____	23438.15	▲	98.05	▲	0.42%		
	Strait_Times___	3195.76	▲	2.86	▲	0.09%		
	NZX_50_Index__	4802.56	▲	43.97	▲	0.92%		

http://finance.yahoo.com/news/p-500-ekes-small-gain-204520662.html

*S&P 500 ekes out a small gain to set a new record

S&P 500 ekes out new record closing level as US corporate earnings roll in*

By Steve Rothwell, AP Markets Writer

The Standard & Poor's 500 index eked out the smallest of gains to set a record high Monday as investors assessed third-quarter earnings news.

Earnings will hold investors' attention this week as major U.S. companies including McDonald's, Boeing and Procter & Gamble report their results. Rising profits have been one of the key supports for this year's rally in stocks.

Toymaker Hasbro and the V.F. Corporation, which owns clothing brands including Wrangler and The North Face, were among the biggest gainers in the S&P 500 after reporting earnings that beat analysts' expectations. McDonalds dipped after reporting disappointing revenue.

The S&P 500 closed up a fraction of a point at 1,744.66, an all-time high, its third consecutive record close. Stocks climbed last week after Washington reached a deal to end a 16-day government shutdown and avert a default on the nation's debt.

The index is up 22 percent so far this year, putting it on track for its best year since 2009.

The Dow Jones industrial average edged down 7.45 points, or 0.1 percent, to 15,392.20. The Nasdaq composite rose 5.77 points, or 0.2 percent, to 3,920.05.

Stocks will likely continue adding to their gains, at least until the end of the year, as investors get more confident that the market's rally is sustainable, said Joe Bell, a senior equities analyst at Schaeffer's Investment Research.

"We've had a pretty decent run here," Bell said. "It wouldn't surprise me if we saw the momentum slow a bit through the end of October and then have a nice rally through November and December."

McDonald's fell 61 cents, or 0.6 percent, to $94.59 after the world's biggest hamburger chain's revenue fell short of Wall Street analyst's expectations.

Hasbro surged after reporting that its net income rose 17 percent as sales increased. Its adjusted results and revenue topped analysts' estimates. The stock climbed $2.48, or 5.2 percent, to $49.72. V.F. Corporation rose $6.93, or 3.4 percent, to $211.23 after its earnings beat analysts' expectations.

Netflix jumped in after-hours trading after the company said its net income quadrupled to $32 million, or 52 cents a share. That beat analyst expectations for 48 cents a share.

Companies in the S&P 500 are expected to report earnings growth of 3.2 percent for the July-to-September period, according to the latest data from S&P Capital IQ. About 60 percent of companies that have reported earnings have beaten analysts' expectations.

"Earnings so far have been excellent," said Jerry Braakman, chief investment officer of First American Trust. "Earnings are coming in and beating (expectations) by a penny here and there, and we're very comfortable with that."

Company earnings will likely continue to grow as the outlook for the global economy brightens, as Europe continues to recover from its recession and growth in China picks up, Braakman said.

The continued stimulus for the economy from the Federal Reserve should also help support the economy and corporate earnings. The U.S. central bank is currently buying $85 billion of bonds every month to support the economy.

The government's monthly jobs report for September will be released Tuesday, giving investors more information about the strength of the U.S. economy. The report, which is typically released on the first Friday of every month, was delayed because of the government shutdown.

Economists predict that the U.S. economy added 180,000 jobs in September, according to data provider FactSet. Investors may discount the report though, as it is being published more than two weeks late.

"It's old information, it's not as current as it normally is," said Kate Warne, a market strategist at investment adviser, Edward Jones.

Homebuilders slumped after Americans bought fewer previously occupied homes in September than the previous month, held back by higher mortgage rates and rising prices. The National Association of Realtors said Monday that sales of re-sold homes fell 1.9 percent to a seasonally adjusted annual rate of 5.29 million.

KB Home fell 60 cents, or 3.5 percent, to $16.57. D.R. Horton dropped 35 cents, or 1.8 percent, to $18.67.

In government bond trading, the yield on the 10-year note edged up to 2.61 percent from 2.58 percent Friday.

In commodities trading, the price of oil dipped below $100 for the first time since early July after a government report showed that U.S. supplies continue to rise. Oil fell $1.59, or 1.6 percent, to $99.22 a barrel. Gold rose $1.20, or 0.1 percent, to $1,315.80 an ounce.

Among stocks making big moves:

”” General Electric rose 59 cents, or 2.3 percent, to $26.14 after Citigroup added the company to its U.S. Focus List, citing the company's buyback program and cost-cutting plans among some of the reasons to own the stock.

”” Gannett, the media company that owns USA Today, fell 59 cents, or 2.1 percent, to $26.90 after the company reported lower earnings and revenue for the third quarter.


----------



## bigdog

Source: http://finance.yahoo.com 

The prospect of more economic stimulus from the Federal Reserve pushed the Standard & Poor's 500 index to a fourth consecutive record close Tuesday.

Investors also were encouraged by strong earnings from major U.S. companies such as Whirlpool, Delta Air Lines and Kimberly-Clark.

The U.S. economy added 148,000 jobs in September, the Labor Department reported Tuesday, lower than the 180,000 jobs forecast. The report was delayed for 2  ½ weeks because of a 16-day partial government shutdown.

Analysts are also expecting the upcoming jobs report for October to be weak because the shutdown may have dampened hiring.

In the absence of stronger jobs growth, the economy will struggle to grow quickly and that means the Fed is unlikely to stop its stimulus effort anytime soon.

"We've probably got another relatively soft report ahead of us," said Jeff Kleintop, Chief Market Strategist for LPL Financial. "That's likely to keep the Fed on hold for some time and the market seems to like that."

The Fed has been buying $85 billion of bonds a month to keep long-term interest rates low and spur economic growth. The stimulus has been a key driver of a 4  ½-year rally in stocks that has pushed the S&P 500 index and Dow Jones industrial average to record levels this year.

On Tuesday, the S&P 500 index rose 10.01 points, or 0.6 percent, to 1,754.67. The Dow gained 75.46 points, or 0.5 percent, to 15,467.66. The Nasdaq composite advanced 9.52 points, or 0.2 percent, to 3,929.57.

Investors are also watching company earnings for the third quarter.

S&P 500 companies are forecast to report average earnings growth of 3.5 percent for the third quarter, according to the latest estimate from S&P Capital IQ. That would be the slowest rate of growth since the third quarter a year ago.

While growth has slowed, about two-thirds of companies are reporting earnings that are beating forecasts from Wall Street analysts.

"So far, the bottom line earnings are beating the reduced expectations," said Darrell Cronk, a regional Chief Investment Officer for Wells Fargo Private Bank.

 *The NYSE DOW closed  	HIGHER ▲	75.46	points or ▲	0.49%	on	Tuesday, 22 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15467.66	▲	75.46	▲	0.49%		
	Nasdaq___	3929.57	▲	9.52	▲	0.24%		
	S&P_500__	1754.67	▲	10.01	▲	0.57%		
	30_Yr_Bond	3.609	▼	-0.072	▼	-1.96%		

NYSE Volume	 3,805,794,500 	 	 	 	 	  		 
Nasdaq Volume	 1,840,978,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6695.66	▲	41.46	▲	0.62%		
	DAX_____	8947.46	▲	80.24	▲	0.90%		
	CAC_40__	4295.43	▲	18.51	▲	0.43%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5371.2	▲	19.7	▲	0.37%		
	Shanghai_Comp	2210.65	▼	-18.59	▼	-0.83%		
	Taiwan_Weight	8418.27	▼	-1.05	▼	-0.01%		
	Nikkei_225____	14713.25	▲	19.68	▲	0.13%		
	Hang_Seng____	23315.99	▼	-122.16	▼	-0.52%		
	Strait_Times___	3210.21	▲	14.45	▲	0.45%		
	NZX_50_Index__	4831.79	▲	29.23	▲	0.61%		

http://finance.yahoo.com/news/fed-stimulus-hopes-lift-p-211302223.html

*Fed stimulus hopes lift S&P 500 to another record

S&P 500 index sets record for 4th straight day on hopes of continued Fed stimulus*

By Steve Rothwell, AP Markets Writer

The prospect of more economic stimulus from the Federal Reserve pushed the Standard & Poor's 500 index to a fourth consecutive record close Tuesday.

Investors also were encouraged by strong earnings from major U.S. companies such as Whirlpool, Delta Air Lines and Kimberly-Clark.

The U.S. economy added 148,000 jobs in September, the Labor Department reported Tuesday, lower than the 180,000 jobs forecast. The report was delayed for 2  ½ weeks because of a 16-day partial government shutdown.

Analysts are also expecting the upcoming jobs report for October to be weak because the shutdown may have dampened hiring.

In the absence of stronger jobs growth, the economy will struggle to grow quickly and that means the Fed is unlikely to stop its stimulus effort anytime soon.

"We've probably got another relatively soft report ahead of us," said Jeff Kleintop, Chief Market Strategist for LPL Financial. "That's likely to keep the Fed on hold for some time and the market seems to like that."

The Fed has been buying $85 billion of bonds a month to keep long-term interest rates low and spur economic growth. The stimulus has been a key driver of a 4  ½-year rally in stocks that has pushed the S&P 500 index and Dow Jones industrial average to record levels this year.

On Tuesday, the S&P 500 index rose 10.01 points, or 0.6 percent, to 1,754.67. The Dow gained 75.46 points, or 0.5 percent, to 15,467.66. The Nasdaq composite advanced 9.52 points, or 0.2 percent, to 3,929.57.

Investors are also watching company earnings for the third quarter.

S&P 500 companies are forecast to report average earnings growth of 3.5 percent for the third quarter, according to the latest estimate from S&P Capital IQ. That would be the slowest rate of growth since the third quarter a year ago.

While growth has slowed, about two-thirds of companies are reporting earnings that are beating forecasts from Wall Street analysts.

"So far, the bottom line earnings are beating the reduced expectations," said Darrell Cronk, a regional Chief Investment Officer for Wells Fargo Private Bank.

Netflix had a volatile day.

The company's stock opened higher after Netflix reported late Monday that its earnings quadrupled and it attracted more subscribers in the third quarter. The gains faded throughout the day and the stock closed down $32.47, or 9 percent, at $322.52.

The stock has gained 248 percent this year, making it the second-best performer in the S&P 500 after Best Buy. Despite the good results, analysts at Jefferies Group say Netflix's valuation is hard to justify given the cost of content, heavy competition and likelihood that the company will have to raise capital to fund its operations.

In government bond trading, the yield on the 10-year Treasury note fell to 2.52 percent, its lowest level since late July, from 2.60 percent late Monday.

The yields on long-term Treasury notes are used to set the rates on consumer loans such as mortgages. Falling rates should help the housing sector by keeping the cost of home financing low.

The drop in yields "is very much supportive for the mortgage markets," said Anastasia Amoroso, Global Market Strategist at J.P. Morgan Funds. "That is definitely a tailwind for the housing market and the consumer."

Homebuilders K.B. Home rose 62 cents, or 3.7 percent, to $17.19. D.R. Horton climbed 56 cents, or 3 percent, to $19.23

Stocks of homebuilders also got a boost from a report that showed spending on U.S. construction projects rose at a solid pace in August, helped by further gains in residential building.

In commodities trading, the price of crude oil fell $1.42, or 1.4 percent, to $97.80 a barrel as recent data indicated there is plenty of supply to meet current demand. The price of gold rose $26.80, or 2 percent, to $1,342.60 an ounce.

Among stocks making big moves:

”” Whirlpool rose $15.22, or 11.6 percent, to $146.19 after the company said its third-quarter net income more than doubled.

”” Delta Air Lines rose 80 cents, or 3.2 percent, to $25.49. The airline made more than a billion dollars in the third quarter as more passengers paid a little bit extra to fly. Delta also said it was seeing strong holiday bookings.

”” Kimberly-Clark rose $4.14, or 4.2 percent, to $102.97 after the maker of Kleenex tissues and Huggies diapers said its third-quarter net income rose 6 percent.

”” Coach fell $4.08, or 7.5 percent, to $50.10 after the maker of luxury handbags and accessories said its quarterly net income fell. The company is struggling with weaker sales in North America.


----------



## bigdog

Source: http://finance.yahoo.com 

A four-day streak of record closes ended for the Standard & Poor's 500 index Wednesday after Caterpillar reported weak earnings and falling oil prices hurt energy stocks.

Caterpillar, which makes mining and construction equipment, is considered an important barometer of the global economy. The plunge in Caterpillar's third-quarter profit discouraged investors and stalled a two-week surge in the stock market. Energy stocks dropped as the price of oil fell to its lowest in almost four months.

The S&P 500 had surged 6 percent over the previous two weeks. The index climbed as lawmakers inched toward a deal to end a 16-day partial government shutdown and avert a potential U.S. default. Investors also became more convinced that the Federal Reserve will refrain from easing back on its economic stimulus until possibly next year.

"We need to let a little bit of air out of the balloon here," said Alec Young, a global equity strategist at S&P Capital IQ. "We've seen a huge rally, so there's a bit of short-term-exhaustion."

The S&P 500 dropped 8.29 points, or 0.5 percent, to 1,746.38, ending its longest streak of record closes since mid-May.

Energy stocks fell the most of the 10 industry sectors in the S&P 500. Oil slipped $1.42, or 1.4 percent, to $97.80 a barrel, on higher U.S. supplies of crude and weak demand for fuel.

Along with weaker earnings, Caterpillar issued a lower profit forecast. Its stock dropped $5.41, or 6.1 percent, to $83.76.

Broadcom was another company that disappointed Wall Street with its third-quarter earnings. The communications chip maker fell 78 cents or 2.9 percent, to $26.36, reported adjusted results that exceeded Wall Street expectations, but the company's earnings forecast was weak.

It wasn't all bad news from corporate America.

Boeing raised its profit estimate for the full year because deliveries of commercial planes continue to accelerate. The plane maker's stock climbed $6.54, or 5.3 percent, to $129.02.

The Dow Jones industrial average fell 54.33 points, or 0.4 percent, to 15,413.33 The Nasdaq composite dropped 22.49 points, or 0.6 percent, to 3,907.07.

While some earnings disappointed investors on Wednesday, most are reporting profits that are better than expected. About sixty percent of the companies in the S&P 500 that have reported third-quarter earnings have beaten analysts' forecasts, according to data from S&P Capital IQ.

"Obviously we've had one casualty today with Caterpillar but, so far, most companies have beaten market expectations," said Peter Cardillo, chief market economist at Rockwell Global Capital.

S&P 500 companies are expected to report earnings growth of 3.5 percent for the July-to-September quarter over the same period a year earlier. Revenue is expected to rise by 3.9 percent.

In government bond trading, the yield on the 10-year Treasury note fell to 2.50 percent from 2.51 percent late Tuesday. 								

 *The NYSE DOW closed  	LOWER ▼	-54.33	points or ▼	-0.35%	on	Wednesday, 23 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15413.33	▼	-54.33	▼	-0.35%		
	Nasdaq___	3907.07	▼	-22.49	▼	-0.57%		
	S&P_500__	1746.38	▼	-8.29	▼	-0.47%		
	30_Yr_Bond	3.582	▼	-0.027	▼	-0.75%		

NYSE Volume	 3,695,265,000 	 	 	 	 	  		 
Nasdaq Volume	 1,866,661,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6674.48	▼	-21.18	▼	-0.32%		
	DAX_____	8919.86	▼	-27.6	▼	-0.31%		
	CAC_40__	4260.66	▼	-34.77	▼	-0.81%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5356.8	▼	-14.4	▼	-0.27%		
	Shanghai_Comp	2183.11	▼	-27.54	▼	-1.25%		
	Taiwan_Weight	8393.62	▼	-24.65	▼	-0.29%		
	Nikkei_225____	14426.05	▼	-287.2	▼	-1.95%		
	Hang_Seng____	22999.95	▼	-316.04	▼	-1.36%		
	Strait_Times___	3204.8	▼	-5.41	▼	-0.17%		
	NZX_50_Index__	4876.4	▲	44.61	▲	0.92%		

http://finance.yahoo.com/news/stock-drop-caterpillar-earnings-falling-203322533.html

*Stock drop on Caterpillar earnings, falling oil

Stocks drop, pulling S&P 500 below record; Caterpillar slumps, falling oil hurts energy stocks*

By Steve Rothwell, AP Markets Writer

A four-day streak of record closes ended for the Standard & Poor's 500 index Wednesday after Caterpillar reported weak earnings and falling oil prices hurt energy stocks.

Caterpillar, which makes mining and construction equipment, is considered an important barometer of the global economy. The plunge in Caterpillar's third-quarter profit discouraged investors and stalled a two-week surge in the stock market. Energy stocks dropped as the price of oil fell to its lowest in almost four months.

The S&P 500 had surged 6 percent over the previous two weeks. The index climbed as lawmakers inched toward a deal to end a 16-day partial government shutdown and avert a potential U.S. default. Investors also became more convinced that the Federal Reserve will refrain from easing back on its economic stimulus until possibly next year.

"We need to let a little bit of air out of the balloon here," said Alec Young, a global equity strategist at S&P Capital IQ. "We've seen a huge rally, so there's a bit of short-term-exhaustion."

The S&P 500 dropped 8.29 points, or 0.5 percent, to 1,746.38, ending its longest streak of record closes since mid-May.

Energy stocks fell the most of the 10 industry sectors in the S&P 500. Oil slipped $1.42, or 1.4 percent, to $97.80 a barrel, on higher U.S. supplies of crude and weak demand for fuel.

Along with weaker earnings, Caterpillar issued a lower profit forecast. Its stock dropped $5.41, or 6.1 percent, to $83.76.

Broadcom was another company that disappointed Wall Street with its third-quarter earnings. The communications chip maker fell 78 cents or 2.9 percent, to $26.36, reported adjusted results that exceeded Wall Street expectations, but the company's earnings forecast was weak.

It wasn't all bad news from corporate America.

Boeing raised its profit estimate for the full year because deliveries of commercial planes continue to accelerate. The plane maker's stock climbed $6.54, or 5.3 percent, to $129.02.

The Dow Jones industrial average fell 54.33 points, or 0.4 percent, to 15,413.33 The Nasdaq composite dropped 22.49 points, or 0.6 percent, to 3,907.07.

While some earnings disappointed investors on Wednesday, most are reporting profits that are better than expected. About sixty percent of the companies in the S&P 500 that have reported third-quarter earnings have beaten analysts' forecasts, according to data from S&P Capital IQ.

"Obviously we've had one casualty today with Caterpillar but, so far, most companies have beaten market expectations," said Peter Cardillo, chief market economist at Rockwell Global Capital.

S&P 500 companies are expected to report earnings growth of 3.5 percent for the July-to-September quarter over the same period a year earlier. Revenue is expected to rise by 3.9 percent.

In government bond trading, the yield on the 10-year Treasury note fell to 2.50 percent from 2.51 percent late Tuesday.

The yield, which is used to set interest rates on many kinds of loans including mortgages, is the lowest it's been since mid-July. It has fallen 0.5 percent since reaching a high for the year of 3 percent on Sept. 5. Investors have bought Treasurys, pushing down their yield, as the outlook for economic growth has weakened since the government shutdown.

The slowdown has an upside, though. Many analysts and economists expect the Fed to continue its economic stimulus until next year to help the economy maintain its momentum after the government shutdown. The central bank is currently buying $85 billion in bonds every month to keep interest rates low. That stimulus program has underpinned a 4  ½ year rally in stocks.

In commodities, the price of gold fell $8.60, or 0.6 percent, to $1,334 an ounce.

Among other stocks making big moves:

”” Corning surged $2.17, or 14.1 percent, to $17.52 after the company announced a new tie-up with a Samsung Electronics subsidiary that will boost the glass maker's earnings immediately.

”” Safeway rose $2.68, or 8.1 percent, to $35.58 following a report from Reuters late yesterday that "a handful" of buyout firms, including Cerberus Capital Management, are exploring a deal for all, or part, of the supermarket chain.


----------



## bigdog

Source: http://finance.yahoo.com 

Another dose of strong corporate earnings, this time from Ford, Southwest Airlines and others, helped push the stock market higher on Thursday.

It's one of the busiest weeks on Wall Street for corporate earnings. Roughly a third of the S&P 500 will report results, including some of the world's best-known companies.

For investors, this week has also been a welcome return to business as usual. Wall Street has been focused for weeks on what's going on in Washington, with the government shutdown, the near-breach of the nation's borrowing limit and questions about what's next for the Federal Reserve's massive bond-buying program.

So far, corporate earnings have come in pretty much as most money managers expected. Companies are reporting bigger profits, but most of the growth has come from cost-cutting, a trend that hasn't changed very much since the financial crisis.

"We're in a slow-growth economy and companies need to do everything to boost earnings," said Brian Reynolds, chief market strategist at Rosenblatt Securities.

The Dow Jones industrial average rose 95.88 points, or 0.6 percent, to 15,509.21. The Standard & Poor's 500 index added 5.69 points, or 0.3 percent, to 1,752.07, about two points below the record high of 1,754.67 it reached on Tuesday.

The Nasdaq composite was up 21.89 points, or 0.6 percent, to 3,928.96.

Among companies reporting earnings, Ford earned an adjusted profit of 45 cents per share ”” a record for the third quarter ”” as sales rose 12 percent to $36 billion. The Dearborn, Mich.-based automaker sold 1.5 million cars and trucks in the period, up 16 percent. Wall Street analysts had expected Ford to earn 37 cents per share, according to FactSet. Ford rose 24 cents, or 1.5 percent, to $17.76.

Southwest Airlines, the nation's largest domestic air carrier, reported sharply higher earnings. Southwest said it had an adjusted profit of 34 cents per share, up from 13 cents a year ago. Southwest rose 61 cents, or 4 percent, to $17.02.

AT&T fell 65 cents, or 1.8 percent, to $34.63. The telecommunications company said late Wednesday it had an adjusted profit of 66 cents in the third quarter, a penny above analysts' forecasts, however revenue fell slightly short of what analysts expected.

Two technology giants, Microsoft and Amazon, reported results after the stock market closed Thursday. Both beat analysts' expectations. Amazon rose 5 percent and Microsoft jumped 6.5 percent in after-market trading.

Wall Street also had some positive news out of China. A Chinese manufacturing index rose to a seven-month high in October, suggesting continued momentum for the rebound in the world's second-biggest economy.

With the S&P 500 trading near a record high and corporations finding it difficult to increase their sales, several market watchers have said they aren't sure how much further stocks can go from here.

There are signs that stocks are getting expensive. Investors are currently paying more than $16 for every $1 of earnings in the S&P 500, up from $14 at the beginning of the year.

"We're at this stage where we need to start to see the fundamentals improve," said Quincy Krosby, a market strategist with Prudential Financial. 								

 *The NYSE DOW closed  	HIGHER ▲	95.88	points or ▲	0.62%	on	Thursday, 24 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15509.21	▲	95.88	▲	0.62%		
	Nasdaq___	3928.96	▲	21.89	▲	0.56%		
	S&P_500__	1752.07	▲	5.69	▲	0.33%		
	30_Yr_Bond	3.613	▲	0.031	▲	0.87%		

NYSE Volume	 3,597,835,750 	 	 	 	 	  		 
Nasdaq Volume	 2,012,617,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6713.18	▲	38.7	▲	0.58%		
	DAX_____	8980.63	▲	60.77	▲	0.68%		
	CAC_40__	4275.69	▲	15.03	▲	0.35%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5373.7	▲	16.9	▲	0.32%		
	Shanghai_Comp	2164.32	▼	-18.78	▼	-0.86%		
	Taiwan_Weight	8413.72	▲	20.1	▲	0.24%		
	Nikkei_225____	14486.41	▲	60.36	▲	0.42%		
	Hang_Seng____	22835.82	▼	-164.13	▼	-0.71%		
	Strait_Times___	3217.95	▲	13.15	▲	0.41%		
	NZX_50_Index__	4834.94	▼	-41.45	▼	-0.85%		

http://finance.yahoo.com/news/higher-profits-ford-others-drive-192736132.html

*Higher profits from Ford, others drive stocks up*

*Stocks rise on Wall Street, helped by better earnings from Ford, Southwest Airlines, others*

By Ken Sweet, AP Markets Writer

Another dose of strong corporate earnings, this time from Ford, Southwest Airlines and others, helped push the stock market higher on Thursday.

It's one of the busiest weeks on Wall Street for corporate earnings. Roughly a third of the S&P 500 will report results, including some of the world's best-known companies.

For investors, this week has also been a welcome return to business as usual. Wall Street has been focused for weeks on what's going on in Washington, with the government shutdown, the near-breach of the nation's borrowing limit and questions about what's next for the Federal Reserve's massive bond-buying program.

So far, corporate earnings have come in pretty much as most money managers expected. Companies are reporting bigger profits, but most of the growth has come from cost-cutting, a trend that hasn't changed very much since the financial crisis.

"We're in a slow-growth economy and companies need to do everything to boost earnings," said Brian Reynolds, chief market strategist at Rosenblatt Securities.

The Dow Jones industrial average rose 95.88 points, or 0.6 percent, to 15,509.21. The Standard & Poor's 500 index added 5.69 points, or 0.3 percent, to 1,752.07, about two points below the record high of 1,754.67 it reached on Tuesday.

The Nasdaq composite was up 21.89 points, or 0.6 percent, to 3,928.96.

Among companies reporting earnings, Ford earned an adjusted profit of 45 cents per share ”” a record for the third quarter ”” as sales rose 12 percent to $36 billion. The Dearborn, Mich.-based automaker sold 1.5 million cars and trucks in the period, up 16 percent. Wall Street analysts had expected Ford to earn 37 cents per share, according to FactSet. Ford rose 24 cents, or 1.5 percent, to $17.76.

Southwest Airlines, the nation's largest domestic air carrier, reported sharply higher earnings. Southwest said it had an adjusted profit of 34 cents per share, up from 13 cents a year ago. Southwest rose 61 cents, or 4 percent, to $17.02.

AT&T fell 65 cents, or 1.8 percent, to $34.63. The telecommunications company said late Wednesday it had an adjusted profit of 66 cents in the third quarter, a penny above analysts' forecasts, however revenue fell slightly short of what analysts expected.

Two technology giants, Microsoft and Amazon, reported results after the stock market closed Thursday. Both beat analysts' expectations. Amazon rose 5 percent and Microsoft jumped 6.5 percent in after-market trading.

Wall Street also had some positive news out of China. A Chinese manufacturing index rose to a seven-month high in October, suggesting continued momentum for the rebound in the world's second-biggest economy.

With the S&P 500 trading near a record high and corporations finding it difficult to increase their sales, several market watchers have said they aren't sure how much further stocks can go from here.

There are signs that stocks are getting expensive. Investors are currently paying more than $16 for every $1 of earnings in the S&P 500, up from $14 at the beginning of the year.

"We're at this stage where we need to start to see the fundamentals improve," said Quincy Krosby, a market strategist with Prudential Financial.

In other corporate news:

”” Visa rose $4.02, or 2 percent, to $202.91. The payment processing company raised its quarterly dividend by 21 percent to 40 cents per share.

”” Xerox plunged $1.12, or 10 percent, to $9.61 after the company cut its full-year outlook and missed analysts' estimates.


----------



## bigdog

Source: http://finance.yahoo.com 

Strong third-quarter results from technology companies drove investors into stocks on Friday, giving the market its third straight weekly gain.

After reporting results that topped expectations, Microsoft rose 6 percent and Amazon.com rose 9 percent. The Standard & Poor's 500 index hit a record. The Nasdaq is the highest it's been in 13 years.

The gains were broad. All 10 industry groups in the S&P 500 rose, led by telecommunications with an increase of 1 percent.

Most companies that have reported third-quarter earnings are beating financial analysts' estimates. Even so, earnings for companies in the S&P 500 index are expected to grow just 4.5 percent over the same period a year ago, according to S&P Capital IQ, a research firm. At the start of the year, earnings were expected to rise at more than twice that pace.

Some market watchers are calling for caution, saying that a significant part of the profit growth has come from cutting expenses, not increasing revenue, as the global economy remains sluggish.

"The question is: What is the outlook for earnings?" Steven Ricchiuto, chief economist at Mizuho Securities, said. "There is only so much you can do with cost-cutting."

Major U.S. stock indexes have soared this year. The S&P 500 is up 23 percent, the Nasdaq composite 31 percent. In addition to higher earnings, investors have been encouraged by continued economic stimulus from the Federal Reserve. Many had expected the Fed to pull back from its stimulus before the end of year, but now think the central bank will hold off until next year, possibly until March.

The Fed is buying $85 billion worth of U.S. government and other bonds with the aim of keeping interest rates low.

The stimulus program has helped investors brush aside a few warning signs about the market. Stocks look fully priced by some measures comparing them to earnings, for instance. And revenue growth is slowing. Revenue for S&P 500 companies is expected to grow just 2 percent for all of 2013, half the growth of the year before.

Economic news Friday suggested they may struggle to increase sales for a while yet.

The U.S. government that reported orders for long-lasting factory goods, excluding aircraft and military-related products, fell 1.1 percent. 								

 *The NYSE DOW closed  	HIGHER ▲	61.07	points or ▲	0.39%	on	Friday, 25 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15570.28	▲	61.07	▲	0.39%		
	Nasdaq___	3943.36	▲	14.4	▲	0.37%		
	S&P_500__	1759.77	▲	7.7	▲	0.44%		
	30_Yr_Bond	3.593	▼	-0.02	▼	-0.55%		

NYSE Volume	 3,152,649,000 	 	 	 	 	  		 
Nasdaq Volume	 2,186,544,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6721.34	▲	8.16	▲	0.12%		
	DAX_____	8985.74	▲	5.11	▲	0.06%		
	CAC_40__	4272.31	▼	-3.38	▼	-0.08%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5385.7	▲	12	▲	0.22%		
	Shanghai_Comp	2132.96	▼	-31.37	▼	-1.45%		
	Taiwan_Weight	8346.62	▼	-67.1	▼	-0.80%		
	Nikkei_225____	14088.19	▼	-398.22	▼	-2.75%		
	Hang_Seng____	22698.34	▼	-137.48	▼	-0.60%		
	Strait_Times___	3205.24	▼	-12.71	▼	-0.39%		
	NZX_50_Index__	4863.35	▲	28.41	▲	0.59%		

http://finance.yahoo.com/news/stocks-rise-profit-gains-microsoft-154019548.html

*Stocks rise on profit gains from Microsoft, others

US stocks close higher on strong results from Microsoft, Amazon; Nasdaq is at a 13-year high*

By Bernard Condon, AP Business Writer 

Strong third-quarter results from technology companies drove investors into stocks on Friday, giving the market its third straight weekly gain.

After reporting results that topped expectations, Microsoft rose 6 percent and Amazon.com rose 9 percent. The Standard & Poor's 500 index hit a record. The Nasdaq is the highest it's been in 13 years.

The gains were broad. All 10 industry groups in the S&P 500 rose, led by telecommunications with an increase of 1 percent.

Most companies that have reported third-quarter earnings are beating financial analysts' estimates. Even so, earnings for companies in the S&P 500 index are expected to grow just 4.5 percent over the same period a year ago, according to S&P Capital IQ, a research firm. At the start of the year, earnings were expected to rise at more than twice that pace.

Some market watchers are calling for caution, saying that a significant part of the profit growth has come from cutting expenses, not increasing revenue, as the global economy remains sluggish.

"The question is: What is the outlook for earnings?" Steven Ricchiuto, chief economist at Mizuho Securities, said. "There is only so much you can do with cost-cutting."

Major U.S. stock indexes have soared this year. The S&P 500 is up 23 percent, the Nasdaq composite 31 percent. In addition to higher earnings, investors have been encouraged by continued economic stimulus from the Federal Reserve. Many had expected the Fed to pull back from its stimulus before the end of year, but now think the central bank will hold off until next year, possibly until March.

The Fed is buying $85 billion worth of U.S. government and other bonds with the aim of keeping interest rates low.

The stimulus program has helped investors brush aside a few warning signs about the market. Stocks look fully priced by some measures comparing them to earnings, for instance. And revenue growth is slowing. Revenue for S&P 500 companies is expected to grow just 2 percent for all of 2013, half the growth of the year before.

Economic news Friday suggested they may struggle to increase sales for a while yet.

The U.S. government that reported orders for long-lasting factory goods, excluding aircraft and military-related products, fell 1.1 percent.

Also, the University of Michigan said its index of U.S. consumer sentiment fell in October as concern grew that the partial government shutdown this month and the political fight over the nation's borrowing limit would slow growth.

The Dow rose 61.07 points, or 0.4 percent, to close at 15,570.28. The S&P 500 rose 7.70 points, 0.4 percent, to 1,759.77. The S&P also closed at a record high Tuesday.

The Nasdaq composite rose 14.40 points, or 0.4 percent, to 3,943.36. That was its highest close since September 2000.

Three stocks rose for every two that fell on the New York Stock Exchange.

Microsoft beat analysts' forecasts for revenue and earnings, giving hope to investors that its shift to devices and services from PC-based software will be successful. Microsoft rose $2.01, or 6 percent, to $35.73 after reporting a 17 percent increase in third quarter net income late Thursday.

Amazon.com was up $31.18, or 9 percent, to $363 as investors continue to shrug off its losses. The online retailer reported late Thursday that its revenue surged 24 percent to $13.8 billion in the third quarter, more than financial analysts had expected.

Zynga rose 19 cents, or 5 percent, to $3.73 after the Internet gaming company reported it had cut its losses in the third quarter. The maker of "Farmville" and "Mafia Wars" is trying to appeal more to users of smartphones and tablet computers under a new CEO.

In bond trading, the yield on the 10-year Treasury note, a benchmark for mortgages and many other kinds of loans, edged down to 2.51 percent from 2.52 percent. The yield has fallen sharply since Sept. 5, when it hit 3 percent, and is the lowest it's been in three months.

4063


----------



## bigdog

Source: http://finance.yahoo.com 

The Standard & Poor's 500 index notched another record close on Monday by a tiny margin as good news from J.C. Penney helped offset disappointing earnings from several U.S. companies.

J.C. Penney was the biggest gainer in the S&P 500 after the retailer's CEO said sales were improving. Merck fell after the drugmaker sharply lowered its earnings forecast for the year and reported a plunge in third-quarter earnings. Roper Industries, a medical and industrial equipment manufacturer, dropped after lowering its full-year earnings estimate.

The S&P 500 has closed at an all-time high six times in October. The index was boosted earlier in the month by a deal in Washington that ended a partial government shutdown and prevented a potential default on the U.S. government's debt. Stocks have also climbed because companies have been able to keep increasing their earnings even as the economy failed to escape stall speed.

Earnings are expected to rise by about 4.5 percent at S&P 500 companies, according to data from S&P Capital IQ. While that is the slowest rate of growth in a year, companies are still beating the estimates of Wall Street analysts. About two-thirds of the companies that have published third-quarter earnings so far have exceeded analysts' expectations.

"Earnings are beating a low bar," said Russ Koesterich, chief investment strategist at BlackRock. "You have an economy that's not producing a lot of top-line growth, but it's allowing margins to remain elevated for longer than people thought."

The S&P 500 rose 2.34 points, or 0.1 percent, to 1,762.11. The Dow Jones industrial average edged down 1.35 points, or less than 0.1 percent, to 15,568.93. The Nasdaq composite closed down 3.23 points, or 0.1 percent, at 3,940.13. 		

Stocks have been supported this year by ongoing economic stimulus from the Federal Reserve. This week investors will get more insight into the central bank's thinking.

Analysts don't expect to see any big changes come out of a meeting of Fed policymakers this week. The Fed is currently buying $85 billion in bonds every month to help keep down long-term interest rates and to encourage borrowing, spending and hiring.

"The Fed is not likely to surprise the markets at this week's meeting, by any means," said Michael Sheldon, the Chief Market Strategist at RDM Financial. "For now, it's steady as she goes."

The 16-day government shutdown that ended earlier this month likely curtailed economic growth in the fourth quarter. Also, many government agencies stopped publishing economic reports during the shutdown, making it harder for policy makers to get a clear picture of the economy.						

 *The NYSE DOW closed  	LOWER ▼	-1.35	points or ▼	-0.01%	on	Monday, 28 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15568.93	▼	-1.35	▼	-0.01%		
	Nasdaq___	3940.13	▼	-3.23	▼	-0.08%		
	S&P_500__	1762.11	▲	2.34	▲	0.13%		
	30_Yr_Bond	3.602	▲	0.009	▲	0.25%		

NYSE Volume	 3,224,470,000 	 	 	 	 	  		 
Nasdaq Volume	 1,870,121,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6725.82	▲	4.48	▲	0.07%		
	DAX_____	8978.65	▼	-7.09	▼	-0.08%		
	CAC_40__	4251.61	▼	-20.7	▼	-0.48%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5437.3	▲	51.6	▲	0.96%		
	Shanghai_Comp	2133.87	▲	0.91	▲	0.04%		
	Taiwan_Weight	8407.83	▲	61.21	▲	0.73%		
	Nikkei_225____	14396.04	▲	307.85	▲	2.19%		
	Hang_Seng____	22806.58	▲	108.24	▲	0.48%		
	Strait_Times___	3207.85	▲	2.61	▲	0.08%		
	NZX_50_Index__	4863.35	▲	28.41	▲	0.59%		

http://finance.yahoo.com/news/p-500-makes-small-gain-204110821.html

*S&P 500 makes small gain to log another record

S&P 500 makes small gain to log sixth record close this month; JC Penney jumps on sales news*

By Steve Rothwell, AP Markets Writer

The Standard & Poor's 500 index notched another record close on Monday by a tiny margin as good news from J.C. Penney helped offset disappointing earnings from several U.S. companies.

J.C. Penney was the biggest gainer in the S&P 500 after the retailer's CEO said sales were improving. Merck fell after the drugmaker sharply lowered its earnings forecast for the year and reported a plunge in third-quarter earnings. Roper Industries, a medical and industrial equipment manufacturer, dropped after lowering its full-year earnings estimate.

The S&P 500 has closed at an all-time high six times in October. The index was boosted earlier in the month by a deal in Washington that ended a partial government shutdown and prevented a potential default on the U.S. government's debt. Stocks have also climbed because companies have been able to keep increasing their earnings even as the economy failed to escape stall speed.

Earnings are expected to rise by about 4.5 percent at S&P 500 companies, according to data from S&P Capital IQ. While that is the slowest rate of growth in a year, companies are still beating the estimates of Wall Street analysts. About two-thirds of the companies that have published third-quarter earnings so far have exceeded analysts' expectations.

"Earnings are beating a low bar," said Russ Koesterich, chief investment strategist at BlackRock. "You have an economy that's not producing a lot of top-line growth, but it's allowing margins to remain elevated for longer than people thought."

The S&P 500 rose 2.34 points, or 0.1 percent, to 1,762.11. The Dow Jones industrial average edged down 1.35 points, or less than 0.1 percent, to 15,568.93. The Nasdaq composite closed down 3.23 points, or 0.1 percent, at 3,940.13.

J.C. Penney, which is trying to recover from a botched corporate makeover led by its former CEO, rose 60 cents, or 8.8 percent, to $7.39. The stock, which is still down 63 percent this year.

Merck fell $1.19, or 2.6 percent, to $45.35 after reporting that its third-quarter profit plunged 35 percent. Roper Industries fell $8.78, or 2.6 percent, to $124.26 after the company's earnings fell short of estimates. Roper also cut its earnings forecast.

Homebuilders fell after the number of Americans who signed contracts to buy previously occupied homes fell in September to the lowest level in nine months, reflecting higher mortgage rates and home prices. D.R. Horton dropped 11 cents, or 0.6 percent, to $19.66. KB Home fell 22 cents, or 1.2 percent, to $17.68.

Stocks have been supported this year by ongoing economic stimulus from the Federal Reserve. This week investors will get more insight into the central bank's thinking.

Analysts don't expect to see any big changes come out of a meeting of Fed policymakers this week. The Fed is currently buying $85 billion in bonds every month to help keep down long-term interest rates and to encourage borrowing, spending and hiring.

"The Fed is not likely to surprise the markets at this week's meeting, by any means," said Michael Sheldon, the Chief Market Strategist at RDM Financial. "For now, it's steady as she goes."

The 16-day government shutdown that ended earlier this month likely curtailed economic growth in the fourth quarter. Also, many government agencies stopped publishing economic reports during the shutdown, making it harder for policy makers to get a clear picture of the economy.

The yield on the 10-year Treasury note rose to 2.52 percent from 2.51 percent.

In commodities trading, the price of gold edged down 30 cents to close at $1,352.20 an ounce. Oil rose 83 cents, or 0.8 percent, to $98.68 a barrel.

Among other stocks making big moves:

”” Burger King rose $1.14, or 5.8 percent, to $20.90 after the hamburger chain said its third-quarter net income surged as it sharply reduced its expenses.

”” CF Industries gained $8.74, or 4.2 percent, to $218.36 after the company agreed to sell its phosphate business to the fertilizer producer Mosaic.

”” Bristol-Myers Squibb rose $3.25, or 6.7 percent, to $52.02 after the company reported positive results from an early-stage study of its cancer drug nivolumab.


----------



## bigdog

Source: http://finance.yahoo.com 

Investors drove the Dow Jones industrial average to an all-time high Tuesday on expectations that the Federal Reserve will keep its economic stimulus program in place.

The Dow rose 111.42 points, or 0.7 percent, to 15,680.35. The Dow also got a big boost from IBM, which announced that it would buy $15 billion more of its own stock.

The Fed is in the middle of a two-day policy meeting at which it's expected to maintain its $85 billion worth of bond purchases every month. That program is aimed at stimulating economic growth by keeping borrowing rates very low. The Fed will announce its decision Wednesday afternoon.

"The expectation that the Fed remains clearly on hold is the catalyst for this march higher," said Quincy Krosby, a market strategist at Prudential Financial.

IBM rose $4.77, or 2.7 percent, to $181.12, accounting for about a quarter of the Dow's gain.

The Standard and Poor's 500 index rose 9.84 points, or 0.6 percent, to 1,771.95, its seventh record high this month.

About half the companies in the S&P 500 have reported earnings for the third quarter. So far, most are doing better than investors expected. Companies in the index are forecast to log third-quarter earnings growth of 4.5 percent, according to data from S&P Capital IQ.

The Nasdaq composite rose 12.21 points, or 0.3 percent, to 3,952.34.

The Nasdaq Stock Market was hit with another glitch. Nasdaq indexes weren't updated from 11:53 a.m. to 12:37 p.m. because of a technical problem that was caused by human error, the exchange operator said in a statement. Trading of Nasdaq-listed stocks wasn't affected.

On Sept. 4, the Nasdaq had a brief outage in one of its quote dissemination channels, but trading wasn't disrupted. On Aug. 22 the exchange suffered a three-hour trading outage that was also attributed to problems with the exchange's price disseminating system.

Two economic reports came in relatively weak, which may have encouraged some investors by suggesting that any slowdown in the Fed's stimulus could be a ways off. 							

 *The NYSE DOW closed  	HIGHER ▲	111.42	points or ▲	0.72%	on	Tuesday, 29 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15680.35	▲	111.42	▲	0.72%		
	Nasdaq___	3952.34	▲	12.21	▲	0.31%		
	S&P_500__	1771.95	▲	9.84	▲	0.56%		
	30_Yr_Bond	3.622	▲	0.02	▲	0.56%		

NYSE Volume	 3,335,774,250 	 	 	 	 	  		 
Nasdaq Volume	 1,857,700,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6774.73	▲	48.91	▲	0.73%		
	DAX_____	9022.04	▲	43.39	▲	0.48%		
	CAC_40__	4278.09	▲	26.48	▲	0.62%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5410.7	▼	-26.6	▼	-0.49%		
	Shanghai_Comp	2128.86	▼	-5	▼	-0.23%		
	Taiwan_Weight	8420.98	▲	13.15	▲	0.16%		
	Nikkei_225____	14325.98	▼	-70.06	▼	-0.49%		
	Hang_Seng____	22846.54	▲	39.96	▲	0.18%		
	Strait_Times___	3208.82	▲	0.97	▲	0.03%		
	NZX_50_Index__	4852.59	▼	-10.76	▼	-0.22%		

http://finance.yahoo.com/news/dow-closes-record-high-fed-204226767.html

*Dow closes at a record high as Fed meeting begins

Dow Jones industrial average climbs to a record high as investors expect Fed to keep stimulus*

By Steve Rothwell, AP Markets Writer 

Investors drove the Dow Jones industrial average to an all-time high Tuesday on expectations that the Federal Reserve will keep its economic stimulus program in place.

The Dow rose 111.42 points, or 0.7 percent, to 15,680.35. The Dow also got a big boost from IBM, which announced that it would buy $15 billion more of its own stock.

The Fed is in the middle of a two-day policy meeting at which it's expected to maintain its $85 billion worth of bond purchases every month. That program is aimed at stimulating economic growth by keeping borrowing rates very low. The Fed will announce its decision Wednesday afternoon.

"The expectation that the Fed remains clearly on hold is the catalyst for this march higher," said Quincy Krosby, a market strategist at Prudential Financial.

IBM rose $4.77, or 2.7 percent, to $181.12, accounting for about a quarter of the Dow's gain.

The Standard and Poor's 500 index rose 9.84 points, or 0.6 percent, to 1,771.95, its seventh record high this month.

About half the companies in the S&P 500 have reported earnings for the third quarter. So far, most are doing better than investors expected. Companies in the index are forecast to log third-quarter earnings growth of 4.5 percent, according to data from S&P Capital IQ.

The Nasdaq composite rose 12.21 points, or 0.3 percent, to 3,952.34.

The Nasdaq Stock Market was hit with another glitch. Nasdaq indexes weren't updated from 11:53 a.m. to 12:37 p.m. because of a technical problem that was caused by human error, the exchange operator said in a statement. Trading of Nasdaq-listed stocks wasn't affected.

On Sept. 4, the Nasdaq had a brief outage in one of its quote dissemination channels, but trading wasn't disrupted. On Aug. 22 the exchange suffered a three-hour trading outage that was also attributed to problems with the exchange's price disseminating system.

Two economic reports came in relatively weak, which may have encouraged some investors by suggesting that any slowdown in the Fed's stimulus could be a ways off.

Retail sales fell 0.1 percent in September, the weakest showing since March, as auto sales dipped. Americans' confidence in the economy fell this month to the lowest level since April. People were worried about the impact of the 16-day partial shutdown of the U.S. government.

"The data that has been the most attractive to (stock) markets seems to be the data that maintains the status quo," said Brad Sorensen, the director of market and sector analysis at the Schwab Center for Financial Research.

The yield on the 10-year Treasury note fell to 2.50 percent from 2.52 percent Monday.

In commodities trading, oil fell 48 cents, or 0.5 percent, to $98.20 a barrel. Gold dropped $6.70, or 0.5 percent, to $1,345.50 an ounce.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market retreated from all-time highs Wednesday after the Federal Reserve said the U.S. economy still needed help from its stimulus program.

In its latest policy statement, the nation's central bank said it will continue buying $85 billion in bonds every month and keep its benchmark short-term interest rate near zero. The bond purchases are designed to keep borrowing costs low to encourage hiring and investment.

The Fed said it would "await more evidence" that the economy was improving before starting to pull back its stimulus program.

The Fed's announcement was mostly expected by investors. Since the Fed's last meeting in September, the economy suffered a blow because of the 16-day partial shutdown of the U.S. government and the near-breach of the nation's borrowing limit.

As a result, investors thought it would be highly unlikely the Fed would make any changes to its stimulus program until was more evidence that the U.S. could grow without the central bank's help.

The soonest the Fed could revisit its bond-buying program will be at its mid-December meeting. However, Ben Bernanke's term as Fed chairman ends in February and his successor, Janet Yellen, has yet to be confirmed by the Senate. It is seen as unlikely Bernanke would take on such a large project like pulling back on the bond-buying program when he only has months left in the position.

"We're looking at March of next year at the earliest" before the Fed will start to pull back, said Dean Junkans, chief investment officer for Wells Fargo Private Bank.

On Wednesday, the Dow Jones industrial average lost 61.59 points, or 0.4 percent, to 15,618.76. The Standard & Poor's 500 index fell 8.64 points, or 0.5 percent, to 1,763.31. The Dow and S&P 500 closed at record highs Tuesday.

The Nasdaq composite fell 21.72 points, or 0.6 percent, to 3,930.62.

Bond prices also fell after the Fed's announcement. The yield on the benchmark U.S. 10-year Treasury note rose to 2.54 percent from 2.50 percent the day before. 								

 *The NYSE DOW closed  	LOWER ▼	-61.59	points or ▼	-0.39%	on	Wednesday, 30 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15618.76	▼	-61.59	▼	-0.39%		
	Nasdaq___	3930.62	▼	-21.72	▼	-0.55%		
	S&P_500__	1763.31	▼	-8.64	▼	-0.49%		
	30_Yr_Bond	3.632	▲	0.01	▲	0.28%		

NYSE Volume	 3,542,601,000 	 	 	 	 	  		 
Nasdaq Volume	 1,878,871,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6777.7	▲	2.97	▲	0.04%		
	DAX_____	9010.27	▼	-11.77	▼	-0.13%		
	CAC_40__	4274.11	▼	-3.98	▼	-0.09%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5425.4	▲	14.7	▲	0.27%		
	Shanghai_Comp	2160.46	▲	31.6	▲	1.48%		
	Taiwan_Weight	8465.06	▲	44.08	▲	0.52%		
	Nikkei_225____	14502.35	▲	176.37	▲	1.23%		
	Hang_Seng____	23304.02	▲	457.48	▲	2.00%		
	Strait_Times___	3230.44	▲	21.62	▲	0.67%		
	NZX_50_Index__	4868.08	▲	15.49	▲	0.32%		

http://finance.yahoo.com/news/stocks-fall-fed-says-us-190830278.html

*Stocks fall after Fed says US still needs support

Stocks fall after Fed says US still needs support; Homebuilders down on weak housing outlook*

By Ken Sweet, AP Markets Writer

The stock market retreated from all-time highs Wednesday after the Federal Reserve said the U.S. economy still needed help from its stimulus program.

In its latest policy statement, the nation's central bank said it will continue buying $85 billion in bonds every month and keep its benchmark short-term interest rate near zero. The bond purchases are designed to keep borrowing costs low to encourage hiring and investment.

The Fed said it would "await more evidence" that the economy was improving before starting to pull back its stimulus program.

The Fed's announcement was mostly expected by investors. Since the Fed's last meeting in September, the economy suffered a blow because of the 16-day partial shutdown of the U.S. government and the near-breach of the nation's borrowing limit.

As a result, investors thought it would be highly unlikely the Fed would make any changes to its stimulus program until was more evidence that the U.S. could grow without the central bank's help.

The soonest the Fed could revisit its bond-buying program will be at its mid-December meeting. However, Ben Bernanke's term as Fed chairman ends in February and his successor, Janet Yellen, has yet to be confirmed by the Senate. It is seen as unlikely Bernanke would take on such a large project like pulling back on the bond-buying program when he only has months left in the position.

"We're looking at March of next year at the earliest" before the Fed will start to pull back, said Dean Junkans, chief investment officer for Wells Fargo Private Bank.

On Wednesday, the Dow Jones industrial average lost 61.59 points, or 0.4 percent, to 15,618.76. The Standard & Poor's 500 index fell 8.64 points, or 0.5 percent, to 1,763.31. The Dow and S&P 500 closed at record highs Tuesday.

The Nasdaq composite fell 21.72 points, or 0.6 percent, to 3,930.62.

Bond prices also fell after the Fed's announcement. The yield on the benchmark U.S. 10-year Treasury note rose to 2.54 percent from 2.50 percent the day before.

Stocks of home construction companies fell after the Fed said in its policy statement that "the recovery in the housing sector slowed somewhat in recent months." Last month, the Fed said housing "has been strengthening."

KB Home fell 47 cents, or 3 percent, to $17.49. Luxury homebuilder Toll Brothers fell 56 cents, or 2 percent, to $33.56 and PulteGroup fell 21 cents, or 1 percent, to $18.00.

Despite the decline Wednesday, October has been a big month for the stock market. With just two days of trading left, the S&P 500 is up 4.9 percent, putting the index on track for its best month since July.

Investors also had another dose of quarterly earnings to work through.

General Motors rose $1.17, or 3 percent, to $37.23. After taking out one-time effects, the nation's largest automaker earned $1.7 billion, or 96 cents per share, beat analysts' expectations of 94 cents per share.

Western Union plunged $2.39, or 12 percent, to $16.85. The money transfer company said late Wednesday that it may not see any profit growth in 2014 due to increasing regulation and compliance costs.

Facebook soared in after-hours trading after the company reported higher income than analysts were expecting. Facebook rose $5.87, or 12 percent, to $54.88. The social media network said it earned an adjusted profit of 25 cents per share for the third quarter, six cents better than what analysts were expecting. Revenue jumped 60 percent to $2.02 billion.


----------



## bigdog

Source: http://finance.yahoo.com 

October, with its history of big crashes on Wall Street, didn't scare off investors this time. To the contrary, the stock market seemed unstoppable.

The Standard & Poor's 500 index closed at a record high seven times and ended the month up 4.5 percent. The market climbed even after October began with the 16-day government shutdown and the threat of a potentially calamitous U.S. default.

"The market didn't waver in the face of the shutdown," said Anton Bayer, CEO of Up Capital Management, an investment adviser. "That was huge."

After being rattled by a series of down-to-the-wire budget battles in recent years, investors have become inured to the ways of Washington lawmakers. Instead of selling stocks, they kept their focus on what they say really matters: the Federal Reserve.

The central bank is buying $85 billion of bonds every month and keeping its benchmark short-term interest rate near zero to promote economic growth. The Fed stimulus has helped generate a stock market rally that has been going on since March 2009.

With October's gains, the S&P 500 is now up 23.2 percent for the year and is on track for its best year since 2009. The Dow Jones industrial average is 18.6 percent higher, and the Nasdaq composite index is up 29.8 percent.

The S&P 500 has climbed 160 percent since bottoming out at 676.53 in March 2009 during the Great Recession.

Some analysts say the precipitous rise in stocks may now make the market vulnerable to a drop.

"Because stocks have gone up so much, people will get nervous about another big sell-off at some stage," said David Kelly, chief global strategist at JPMorgan funds.

Some investors will be relieved to see October behind them. The Stock Trader's Almanac refers to October as "the jinx month" because of its fraught history.

The Dow lost 40 points on Oct. 28, 1929, a day that became known as Black Monday and heralded the start of the Depression. Almost 60 years later, on Oct. 19, 1987, the Dow suffered its biggest percentage loss, plunging nearly 23 percent in the second Black Monday. The index also plummeted 13 percent on Oct. 27, 1997.

There was no such drama on Wall Street on Thursday. Stocks were mostly flat as investors took in disappointing corporate earnings.

The S&P 500 slipped 6.77 points, or 0.4 percent, to 1,756.54. The Dow dropped 73.01 points, or 0.5 percent, to 15,545. The Nasdaq composite fell 10.91 points, or 0.3 percent, to 3,919.71. 								

 *The NYSE DOW closed  	LOWER ▼	-73.01	points or ▼	-0.47%	on	Thursday, 31 October 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15545.75	▼	-73.01	▼	-0.47%		
	Nasdaq___	3919.71	▼	-10.91	▼	-0.28%		
	S&P_500__	1756.54	▼	-6.77	▼	-0.38%		
	30_Yr_Bond	3.631	▼	-0.001	▼	-0.03%		

NYSE Volume	 3,826,002,250 	 	 	 	 	  		 
Nasdaq Volume	 2,239,651,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6731.43	▼	-46.27	▼	-0.68%		
	DAX_____	9033.92	▲	23.65	▲	0.26%		
	CAC_40__	4299.89	▲	25.78	▲	0.60%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5420.3	▼	-5.1	▼	-0.09%		
	Shanghai_Comp	2141.61	▼	-18.85	▼	-0.87%		
	Taiwan_Weight	8450.06	▼	-15	▼	-0.18%		
	Nikkei_225____	14327.94	▼	-174.41	▼	-1.20%		
	Hang_Seng____	23206.37	▼	-97.65	▼	-0.42%		
	Strait_Times___	3210.67	▼	-19.77	▼	-0.61%		
	NZX_50_Index__	4909.73	▲	41.65	▲	0.86%		

http://finance.yahoo.com/news/no-october-jinx-time-stock-205743876.html

*No October jinx this time for the stock market

No October jinx: Stocks kept on rising, hitting 7 all-time highs, despite government shutdown*

By Steve Rothwell, AP Markets Writer

October, with its history of big crashes on Wall Street, didn't scare off investors this time. To the contrary, the stock market seemed unstoppable.

The Standard & Poor's 500 index closed at a record high seven times and ended the month up 4.5 percent. The market climbed even after October began with the 16-day government shutdown and the threat of a potentially calamitous U.S. default.

"The market didn't waver in the face of the shutdown," said Anton Bayer, CEO of Up Capital Management, an investment adviser. "That was huge."

After being rattled by a series of down-to-the-wire budget battles in recent years, investors have become inured to the ways of Washington lawmakers. Instead of selling stocks, they kept their focus on what they say really matters: the Federal Reserve.

The central bank is buying $85 billion of bonds every month and keeping its benchmark short-term interest rate near zero to promote economic growth. The Fed stimulus has helped generate a stock market rally that has been going on since March 2009.

With October's gains, the S&P 500 is now up 23.2 percent for the year and is on track for its best year since 2009. The Dow Jones industrial average is 18.6 percent higher, and the Nasdaq composite index is up 29.8 percent.

The S&P 500 has climbed 160 percent since bottoming out at 676.53 in March 2009 during the Great Recession.

Some analysts say the precipitous rise in stocks may now make the market vulnerable to a drop.

"Because stocks have gone up so much, people will get nervous about another big sell-off at some stage," said David Kelly, chief global strategist at JPMorgan funds.

Some investors will be relieved to see October behind them. The Stock Trader's Almanac refers to October as "the jinx month" because of its fraught history.

The Dow lost 40 points on Oct. 28, 1929, a day that became known as Black Monday and heralded the start of the Depression. Almost 60 years later, on Oct. 19, 1987, the Dow suffered its biggest percentage loss, plunging nearly 23 percent in the second Black Monday. The index also plummeted 13 percent on Oct. 27, 1997.

There was no such drama on Wall Street on Thursday. Stocks were mostly flat as investors took in disappointing corporate earnings.

The S&P 500 slipped 6.77 points, or 0.4 percent, to 1,756.54. The Dow dropped 73.01 points, or 0.5 percent, to 15,545. The Nasdaq composite fell 10.91 points, or 0.3 percent, to 3,919.71.

Avon slumped $4.90, or 21.9 percent, to $17.50 after the beauty products company reported a third-quarter loss, reflecting lower sales and China-related charges. The company also said the Securities and Exchange Commission is proposing a much larger penalty than it expected to settle bribery allegations.

Visa fell $7.15, or 3.5 percent, to $196.67. Its quarterly profits fell 28 percent as it set aside money for taxes. Visa also expects a slow recovery for the economy.

Overall, company earnings are beating the expectations of Wall Street analysts and lifting stock prices. Companies are benefiting from low borrowing costs and stable labor expenses, which are enabling them to boost earnings even as sales remain slack.

Earnings for companies in the S&P 500 are expected to grow 5.3 percent in the third quarter, according to data from S&P Capital IQ. That compares with 4.9 percent in the second quarter, and 2.4 percent in the same period a year ago.

The stock market is likely to keep climbing as long as the central bank keeps up its stimulus, said Up Capital's Bayer. But stocks could fall as much as 20 percent when the Fed starts to cut back on its bond-buying program, he said.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market started November on a strong note as investors reacted to an expansion in U.S. manufacturing last month.

The improvement came during what could have been a difficult month for the U.S. economy, with a partial government shutdown that lasted 16 days and a narrowly averted default on the U.S. government's debt, which could have rattled financial markets.

"With what happened in the last two months, it's amazing how strong this market has been," said Bob Doll, chief equity strategist at Nuveen Asset Management.

The Institute for Supply Management reported that its manufacturing index increased to 56.4, the highest level since April 2011. That was better than the 55.1 figure economists were expecting, according financial data provider FactSet.

The Dow Jones industrial average rose 69.80 points, or 0.5 percent, to 15,615.55. The Standard & Poor's 500 index rose 5.10 points, or 0.3 percent, to 1,761.64. The Nasdaq composite rose 2.34 points, or 0.1 percent, to 3,922.04.

Energy stocks lagged the market after Chevron reported that its third-quarter income fell 6 percent, missing analysts' estimates, due to weakness in the company's oil refining business. Chevron fell $1.95, or 1.6 percent, to $118.01.

The energy sector was also weighed down by a drop in the price of oil. Crude oil fell $1.77, or 1.8 percent, to $94.61 a barrel.

The positive start to this month's trading comes after a strong October for the stock market. The S&P 500 closed at a record high seven times during the month, most recently on Tuesday. It ended October with a gain of 4.5 percent.

However, some investors have expressed skepticism that stocks can keep up this rapid pace pace heading into the last two months of the year.

The S&P 500 is up 23 percent so far this year, while the average annual return on the S&P 500 is around 8 percent. Stocks are also starting to look expensive by some measures. Investors are paying more than $16 for every $1 of earnings in the S&P 500, the highest that ratio has been since February 2011.

"I don't think this market is cheap by any means," said Brad McMillan, chief investment officer for Commonwealth Financial. "We've been urging caution for some time now." 								

 *The NYSE DOW closed  	HIGHER ▲	69.8	points or ▲	0.45%	on	Friday, 1 November 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15615.55	▲	69.8	▲	0.45%		
	Nasdaq___	3922.04	▲	2.34	▲	0.06%		
	S&P_500__	1761.64	▲	5.1	▲	0.29%		
	30_Yr_Bond	3.696	▲	0.065	▲	1.79%		

NYSE Volume	 3,703,160,500 	 	 	 	 	  		 
Nasdaq Volume	 1,917,593,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6734.74	▲	3.31	▲	0.05%		
	DAX_____	9007.83	▼	-26.09	▼	-0.29%		
	CAC_40__	4273.19	▼	-26.7	▼	-0.62%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5406.5	▼	-13.8	▼	-0.25%		
	Shanghai_Comp	2149.56	▲	7.95	▲	0.37%		
	Taiwan_Weight	8388.18	▼	-61.88	▼	-0.73%		
	Nikkei_225____	14201.57	▼	-126.37	▼	-0.88%		
	Hang_Seng____	23249.79	▲	43.42	▲	0.19%		
	Strait_Times___	3201.2	▼	-9.47	▼	-0.29%		
	NZX_50_Index__	4913.83	▲	4.11	▲	0.08%		

http://finance.yahoo.com/news/stocks-start-november-positive-note-203055509.html

*Stocks start November on a positive note

US stocks start November on a strong note, helped by report on manufacturing expanding*

By Ken Sweet, AP Markets Writer

The stock market started November on a strong note as investors reacted to an expansion in U.S. manufacturing last month.

The improvement came during what could have been a difficult month for the U.S. economy, with a partial government shutdown that lasted 16 days and a narrowly averted default on the U.S. government's debt, which could have rattled financial markets.

"With what happened in the last two months, it's amazing how strong this market has been," said Bob Doll, chief equity strategist at Nuveen Asset Management.

The Institute for Supply Management reported that its manufacturing index increased to 56.4, the highest level since April 2011. That was better than the 55.1 figure economists were expecting, according financial data provider FactSet.

The Dow Jones industrial average rose 69.80 points, or 0.5 percent, to 15,615.55. The Standard & Poor's 500 index rose 5.10 points, or 0.3 percent, to 1,761.64. The Nasdaq composite rose 2.34 points, or 0.1 percent, to 3,922.04.

Energy stocks lagged the market after Chevron reported that its third-quarter income fell 6 percent, missing analysts' estimates, due to weakness in the company's oil refining business. Chevron fell $1.95, or 1.6 percent, to $118.01.

The energy sector was also weighed down by a drop in the price of oil. Crude oil fell $1.77, or 1.8 percent, to $94.61 a barrel.

The positive start to this month's trading comes after a strong October for the stock market. The S&P 500 closed at a record high seven times during the month, most recently on Tuesday. It ended October with a gain of 4.5 percent.

However, some investors have expressed skepticism that stocks can keep up this rapid pace pace heading into the last two months of the year.

The S&P 500 is up 23 percent so far this year, while the average annual return on the S&P 500 is around 8 percent. Stocks are also starting to look expensive by some measures. Investors are paying more than $16 for every $1 of earnings in the S&P 500, the highest that ratio has been since February 2011.

"I don't think this market is cheap by any means," said Brad McMillan, chief investment officer for Commonwealth Financial. "We've been urging caution for some time now."

In the bond market, the yield on the 10-year Treasury note rose to 2.62 percent from 2.56 percent.

On Friday morning, the Nasdaq's options market was halted due to a technical glitch. Regular stock trading was not affected.

Among stocks making big moves:

”” The Container Store more than doubled on its first day of trading on the New York Stock Exchange. The company raised $225 million in its initial public offering, pricing 12.5 million shares at $18 each. The stock soared $18.20 to $36.20.

”” First Solar jumped $8.83, or 18 percent, to $59.14. The solar panel maker said it had an adjusted profit of $2.28 per share for the third quarter, blowing past analysts' estimates of $1.13 per share, according FactSet.

4674


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market's gains on Monday were a mile wide and an inch deep.

Major indexes posted slight but widespread gains. So while there was no dramatic rally and no records were set, all 10 industries tracked in the Standard & Poor's 500 index rose. Twice as many stocks rose as fell. The Russell 2000 index of smaller companies rose more than one percent, the biggest gain among U.S. market benchmarks.

And some industries rose sharply, including steelmakers, homebuilders, and airlines.

While Monday's gains were modest, they continued a powerful rally in the market that has driven the S&P 500 index up nearly 24 percent this year. The S&P 500 closed at records seven times in October, most recently on Oct. 29, when it set its current all-time high of 1,771.95

On Monday the S&P 500 increased 6.29 points, or 0.4 percent, to close at 1,767.93. Energy stocks had by far the biggest gains among 10 industries in the S&P 500, followed by technology and consumer discretionary stocks.

The Dow Jones industrial average rose 23.57 points, or 0.15 percent, to 15,639.12 and the Nasdaq composite also gained 14.55 points, or 0.37 percent, to 3,936.59.

Homebuilders gained after Tri Pointe Homes said it would combine with Weyerhaeuser's home building business in a $2.7 billion deal. Last week homebuilders fell after the Federal Reserve said in a policy statement that the recovery in that sector has "slowed somewhat" in recent months.

Tri Pointe rose 77 cents, or 5 percent, to $16.15. D.R. Horton rose 31 cents, or 1.7 percent, to $18.82. KB Home rose 28 cents, or 1.7 percent, to $16.88.

Steelmakers rose after Goldman Sachs said the steel sector appears to be "heading to a sustainable recovery." AK Steel Holding rose 40 cents, or almost 9 percent, to $5. US Steel rose $1.13, or 4.4 percent, to $26.91. Steel Dynamics Inc. rose 41 cents, or 2.2 percent, to $18.85.

So far during the third-quarter earnings season, 68 percent of companies that have reported have beaten analysts' estimates, according to S&P Capital IQ. But 60 of the 78 companies that provided fourth-quarter forecasts came in lower than analysts were expecting.

"Generally earnings have been OK, but revenues have been a little bit light," said Lawrence Creatura, portfolio manager for the Clover Small Value Fund at Federated Investors.

"Management teams seem to be getting it done through cost-cutting rather than vibrant organic growth. The economy is growing slowly, stubbornly slowly," Creatura said.

With just 14 companies reporting earnings on Monday, some investors were on the sidelines. The pace picks up on Tuesday. Investors were also looking ahead to Twitter's highly anticipated public offering Thursday and the Labor Department's employment survey on Friday. 								

 *The NYSE DOW closed  	HIGHER ▲	23.57	points or ▲	0.15%	on	Monday, 4 November 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15639.12	▲	23.57	▲	0.15%		
	Nasdaq___	3936.59	▲	14.55	▲	0.37%		
	S&P_500__	1767.93	▲	6.29	▲	0.36%		
	30_Yr_Bond	3.691	▼	-0.005	▼	-0.14%		

NYSE Volume	 3,191,128,750 	 	 	 	 	  		 
Nasdaq Volume	 1,777,975,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6763.62	▲	28.88	▲	0.43%		
	DAX_____	9037.23	▲	29.4	▲	0.33%		
	CAC_40__	4288.59	▲	15.4	▲	0.36%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5384.2	▼	-22.3	▼	-0.41%		
	Shanghai_Comp	2149.63	▲	0.07	▲	0.00%		
	Taiwan_Weight	8354.14	▼	-34.04	▼	-0.41%		
	Nikkei_225____	14201.57	▼	-126.37	▼	-0.88%		
	Hang_Seng____	23189.62	▼	-60.17	▼	-0.26%		
	Strait_Times___	3203.94	▲	2.74	▲	0.09%		
	NZX_50_Index__	4910.68	▼	-3.16	▼	-0.06%		

http://finance.yahoo.com/news/stocks-higher-market-continues-edge-221226912.html

*Stocks higher as market continues to edge upward

US stocks post modest but broad gains; Small-company stocks, homebuilders are among standouts*

By Joshua Freed, AP Business Writer

The stock market's gains on Monday were a mile wide and an inch deep.

Major indexes posted slight but widespread gains. So while there was no dramatic rally and no records were set, all 10 industries tracked in the Standard & Poor's 500 index rose. Twice as many stocks rose as fell. The Russell 2000 index of smaller companies rose more than one percent, the biggest gain among U.S. market benchmarks.

And some industries rose sharply, including steelmakers, homebuilders, and airlines.

While Monday's gains were modest, they continued a powerful rally in the market that has driven the S&P 500 index up nearly 24 percent this year. The S&P 500 closed at records seven times in October, most recently on Oct. 29, when it set its current all-time high of 1,771.95

On Monday the S&P 500 increased 6.29 points, or 0.4 percent, to close at 1,767.93. Energy stocks had by far the biggest gains among 10 industries in the S&P 500, followed by technology and consumer discretionary stocks.

The Dow Jones industrial average rose 23.57 points, or 0.15 percent, to 15,639.12 and the Nasdaq composite also gained 14.55 points, or 0.37 percent, to 3,936.59.

Homebuilders gained after Tri Pointe Homes said it would combine with Weyerhaeuser's home building business in a $2.7 billion deal. Last week homebuilders fell after the Federal Reserve said in a policy statement that the recovery in that sector has "slowed somewhat" in recent months.

Tri Pointe rose 77 cents, or 5 percent, to $16.15. D.R. Horton rose 31 cents, or 1.7 percent, to $18.82. KB Home rose 28 cents, or 1.7 percent, to $16.88.

Steelmakers rose after Goldman Sachs said the steel sector appears to be "heading to a sustainable recovery." AK Steel Holding rose 40 cents, or almost 9 percent, to $5. US Steel rose $1.13, or 4.4 percent, to $26.91. Steel Dynamics Inc. rose 41 cents, or 2.2 percent, to $18.85.

So far during the third-quarter earnings season, 68 percent of companies that have reported have beaten analysts' estimates, according to S&P Capital IQ. But 60 of the 78 companies that provided fourth-quarter forecasts came in lower than analysts were expecting.

"Generally earnings have been OK, but revenues have been a little bit light," said Lawrence Creatura, portfolio manager for the Clover Small Value Fund at Federated Investors.

"Management teams seem to be getting it done through cost-cutting rather than vibrant organic growth. The economy is growing slowly, stubbornly slowly," Creatura said.

With just 14 companies reporting earnings on Monday, some investors were on the sidelines. The pace picks up on Tuesday. Investors were also looking ahead to Twitter's highly anticipated public offering Thursday and the Labor Department's employment survey on Friday.

Eleven other companies are also expected to bring IPOs this week. That means this week will be tied for the busiest of the year.

IPOs often track stock market valuations. The more investors pay for stocks listed now, the more companies figure investors will pay for newly issued shares, too.

"Twitter has really reawakened the retail investor," said Kim Forrest, an analyst at Fort Pitt Capital Group. "Maybe they're responsible for the market drifting up the way it has today."

Airline stocks rose after reports that US Airways Group Inc. and American Airlines, which are seeking a merger, are in talks with the Justice Department to resolve antitrust concerns before a trial later this month.

The news helped push Delta Air Lines to touch an all-time high of $27.78. It closed higher by 80 cents, or 3 percent, at $27.44. Delta and JetBlue Airways were the biggest gainers in the Dow Jones transportation index, which set its own an all-time high. JetBlue rose 28 cents, or 3.9 percent, to close at $7.55.

BlackBerry plunged $1.27, or more than 16 percent, to $6.50 after calling off its effort to find a buyer and replacing its CEO. The smartphone maker has been losing customers to Apple's iPhones and phones that run Google's Android software.

Food distributor Sysco rose after its earnings beat analyst estimates. Its stock rose $1.40, or 4.3 percent, to $33.96.

The yield on the 10-year Treasury note fell to 2.60 percent from 2.62 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market is taking a break from its record-breaking run.

Some weak corporate earnings reports on Tuesday held the market back, pushing the major indexes slightly lower.

Tenet Healthcare plunged after the hospital operator issued a disappointing outlook for this quarter and said that its third-quarter profit fell, in part because of costs associated with a big acquisition. Freight forwarder Expeditors International dropped after missing analysts' expectations for profit and revenue.

The market is still close to record levels after a surge that has put the Standard & Poor's 500 index on track for its best performance since 2009. Stocks have advanced this year as the Federal Reserve kept up its stimulus program to help the U.S. economy recover.

Investors are struggling, however, to find more catalysts to push the market higher. Investors already expect the Fed to keep up its stimulus until at least next year, and company earnings may start to flag if economic growth remains in the doldrums.

"We're going to run out of steam here," said Scott Wren, a senior equity strategist at Wells Fargo Advisors.

The S&P 500 index dropped 4.96 points, or 0.3 percent, to 1,762.97. The index is nine points below its record close of 1,771.95 set Oct. 29.

The index is up 0.4 percent this month, a muted gain compared with October, when it rose 4.5 percent as investors bet that the Fed would continue with its economic stimulus after a 16-day government shutdown crimped growth and hurt consumer confidence.

The Dow Jones industrial average was down 20.90 points, or 0.1 percent, to 15,618.22. The Nasdaq composite was up 3.27, or less than 0.1 percent, at 3,939.86.

Overall, corporate earnings for the third quarter have been better than analysts had forecast.

Earnings for S&P 500 companies are expected to grow by 5.2 percent in the July-to-September period, according to S&P Capital IQ. That's better than the 4.9 percent growth recorded in the second quarter and the 2.4 percent growth in the same period a year ago.

Stocks could struggle to add to their gains in coming weeks, however, now that three-quarters of the S&P 500's earnings reports have been released, said Kristina Hooper, head of U.S. Capital Markets Research & Strategy at Allianz Global Investors. Investors may also be underestimating the impact that last month's government shutdown had on the economy, she said.

"What's concerning is what we're seeing for the fourth quarter," Hooper said. The forecasts companies are making "suggest that we could see some damage from the shutdown."

The overwhelming majority of earnings outlooks that companies have provided for the fourth quarter have been negative. Of the 78 companies that have provided investors with guidance, 60 have lowered their forecasts. 								

 *The NYSE DOW closed  	LOWER ▼	-20.9	points or ▼	-0.13%	on	Tuesday, 5 November 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15618.22	▼	-20.9	▼	-0.13%		
	Nasdaq___	3939.86	▲	3.27	▲	0.08%		
	S&P_500__	1762.97	▼	-4.96	▼	-0.28%		
	30_Yr_Bond	3.758	▲	0.067	▲	1.82%		

NYSE Volume	 3,485,483,750 	 	 	 	 	  		 
Nasdaq Volume	 1,897,861,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6746.84	▼	-16.78	▼	-0.25%		
	DAX_____	9009.11	▼	-28.12	▼	-0.31%		
	CAC_40__	4253.34	▼	-35.25	▼	-0.82%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5425.7	▲	41.5	▲	0.77%		
	Shanghai_Comp	2157.24	▲	7.61	▲	0.35%		
	Taiwan_Weight	8262.2	▼	-91.94	▼	-1.10%		
	Nikkei_225____	14225.37	▲	23.8	▲	0.17%		
	Hang_Seng____	23038.95	▼	-150.67	▼	-0.65%		
	Strait_Times___	3205.54	▲	1.6	▲	0.05%		
	NZX_50_Index__	4938.7	▲	28.03	▲	0.57%		

http://finance.yahoo.com/news/weak-earnings-reports-stall-stock-213356219.html

*Some weak earnings reports stall the stock market

Stocks edge lower after a handful of weak corporate earnings; Tenet Healthcare plunges*

By Steve Rothwell, AP Markets Writer

The stock market is taking a break from its record-breaking run.

Some weak corporate earnings reports on Tuesday held the market back, pushing the major indexes slightly lower.

Tenet Healthcare plunged after the hospital operator issued a disappointing outlook for this quarter and said that its third-quarter profit fell, in part because of costs associated with a big acquisition. Freight forwarder Expeditors International dropped after missing analysts' expectations for profit and revenue.

The market is still close to record levels after a surge that has put the Standard & Poor's 500 index on track for its best performance since 2009. Stocks have advanced this year as the Federal Reserve kept up its stimulus program to help the U.S. economy recover.

Investors are struggling, however, to find more catalysts to push the market higher. Investors already expect the Fed to keep up its stimulus until at least next year, and company earnings may start to flag if economic growth remains in the doldrums.

"We're going to run out of steam here," said Scott Wren, a senior equity strategist at Wells Fargo Advisors.

The S&P 500 index dropped 4.96 points, or 0.3 percent, to 1,762.97. The index is nine points below its record close of 1,771.95 set Oct. 29.

The index is up 0.4 percent this month, a muted gain compared with October, when it rose 4.5 percent as investors bet that the Fed would continue with its economic stimulus after a 16-day government shutdown crimped growth and hurt consumer confidence.

The Dow Jones industrial average was down 20.90 points, or 0.1 percent, to 15,618.22. The Nasdaq composite was up 3.27, or less than 0.1 percent, at 3,939.86.

Overall, corporate earnings for the third quarter have been better than analysts had forecast.

Earnings for S&P 500 companies are expected to grow by 5.2 percent in the July-to-September period, according to S&P Capital IQ. That's better than the 4.9 percent growth recorded in the second quarter and the 2.4 percent growth in the same period a year ago.

Stocks could struggle to add to their gains in coming weeks, however, now that three-quarters of the S&P 500's earnings reports have been released, said Kristina Hooper, head of U.S. Capital Markets Research & Strategy at Allianz Global Investors. Investors may also be underestimating the impact that last month's government shutdown had on the economy, she said.

"What's concerning is what we're seeing for the fourth quarter," Hooper said. The forecasts companies are making "suggest that we could see some damage from the shutdown."

The overwhelming majority of earnings outlooks that companies have provided for the fourth quarter have been negative. Of the 78 companies that have provided investors with guidance, 60 have lowered their forecasts.

On Tuesday, Tenet dropped $4.26, or 8.8 percent, to $44. That decreased the stock's gain this year to 36 percent. Expeditors fell $2.88 or 6.2 percent, to $43.41.

Investors are also waiting for the Labor Department's closely watched monthly jobs survey, which was delayed a week by the government shutdown. The report is due out Friday.

In government bond trading, the yield on the 10-year note climbed to 2.67 percent from 2.60 percent on Monday.

The yield rose after a private survey showed that hiring and sales increased in the U.S. services sector last month. That suggests the sector wasn't affected by the partial government shutdown. The report measures growth at companies that employ 90 percent of the workforce, including retail, construction, health care and financial services.

In the commodities markets, the price of oil fell $1.25, or 1.3 percent, to $93.37 a barrel. Gold edged down $6.60, or 0.5 percent, to $1,308.10 an ounce.

Among other stocks making big moves:

”” Delphi Automotive fell $2.99, or 5.2 percent, to $55.01 after the company supplier to auto makers cut its forecast for the year and sales slid.

”” CVS Caremark rose $1.24, or 2 percent, to $63.22 after its third-quarter income climbed 25 percent, beating Wall Street expectations. The drugstore operator and pharmacy benefits manager also raised its 2013 earnings forecast.

”” Regeneron jumped $20.62, or 7.3 percent, to $302.32 after the pharmaceutical company posted earnings that beat analysts' expectations. The company also reported strong growth of its eye disease drug Eylea.


----------



## bigdog

Source: http://finance.yahoo.com 

There wasn't any major economic news or blockbuster earnings. But that didn't stop investors from pushing the Dow Jones industrial average to another record on Wednesday.

Instead, investors focused on the big economic news this week that has yet to come, U.S. third-quarter economic growth on Thursday and the October jobs report Friday. Both reports could signal how much longer the Federal Reserve will keep up its $85 billion a month in bond purchases. That program has held down interest rates, kept bond yields low and made stocks more attractive for investors.

The Dow reached its latest record of 15,746.88 with some help from Microsoft. The tech giant rose the most in more than two months after analysts at Nomura said investors should focus on how the company's fortunes could improve once it picks a replacement for CEO Steve Ballmer.

Other indexes also gained, but not as much.

The Standard & Poor's 500 index rose, but not quite enough to set another record. The Nasdaq composite and the Russell 2000, an index of small-company stocks, edged lower. The patchy performance of the overall market suggests that investors may be getting wary of stocks after this year's strong gains, said Sam Stovall, chief equity strategist at S&P Capital IQ.

Stovall said he didn't think the market's advance was in danger of being derailed, but said "investors are still a little bit nervous."

The Dow increased 128.66 points, or 0.8 percent. The S&P 500 index rose 7.52, or 0.4 percent, to 1,770.49, just one point below its all-time high set Oct. 29. It's up 24 percent so far this year.

The Nasdaq composite fell 7.92 points, or 0.2 percent, to 3,931.95. The index reached a 13-year high at the end of last month.

Economists expect that the U.S. economy grew at an annualized pace of 2 percent in the July-to-September period, down from 2.5 percent the previous quarter, according to FactSet, a financial data provider. They also forecast that U.S. employers added 122,000 jobs in October, down from 148,000 the month before. Weak signals on the economy could mean a longer period of Fed stimulus. 								

 *The NYSE DOW closed  	HIGHER ▲	128.66	points or ▲	0.82%	on	Wednesday, 6 November 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15746.88	▲	128.66	▲	0.82%		
	Nasdaq___	3931.95	▼	-7.92	▼	-0.20%		
	S&P_500__	1770.49	▲	7.52	▲	0.43%		
	30_Yr_Bond	3.769	▲	0.011	▲	0.29%		

NYSE Volume	 3,298,861,000 	 	 	 	 	  		 
Nasdaq Volume	 1,995,767,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6741.69	▼	-5.15	▼	-0.08%		
	DAX_____	9040.87	▲	31.76	▲	0.35%		
	CAC_40__	4286.93	▲	33.59	▲	0.79%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5426	▲	0.3	▲	0.01%		
	Shanghai_Comp	2139.61	▼	-17.63	▼	-0.82%		
	Taiwan_Weight	8281.97	▲	19.77	▲	0.24%		
	Nikkei_225____	14337.31	▲	111.94	▲	0.79%		
	Hang_Seng____	23036.94	▼	-2.01	▼	-0.01%		
	Strait_Times___	3205.29	▼	-0.25	▼	-0.01%		
	NZX_50_Index__	4944.57	▲	5.87	▲	0.12%		

http://finance.yahoo.com/news/dow-jones-average-closes-record-221209126.html

*Dow Jones average closes at a record

Dow Jones industrial average rises to another record; Index gets a boost as Microsoft jumps*

By Steve Rothwell, AP Markets Writer

There wasn't any major economic news or blockbuster earnings. But that didn't stop investors from pushing the Dow Jones industrial average to another record on Wednesday.

Instead, investors focused on the big economic news this week that has yet to come, U.S. third-quarter economic growth on Thursday and the October jobs report Friday. Both reports could signal how much longer the Federal Reserve will keep up its $85 billion a month in bond purchases. That program has held down interest rates, kept bond yields low and made stocks more attractive for investors.

The Dow reached its latest record of 15,746.88 with some help from Microsoft. The tech giant rose the most in more than two months after analysts at Nomura said investors should focus on how the company's fortunes could improve once it picks a replacement for CEO Steve Ballmer.

Other indexes also gained, but not as much.

The Standard & Poor's 500 index rose, but not quite enough to set another record. The Nasdaq composite and the Russell 2000, an index of small-company stocks, edged lower. The patchy performance of the overall market suggests that investors may be getting wary of stocks after this year's strong gains, said Sam Stovall, chief equity strategist at S&P Capital IQ.

Stovall said he didn't think the market's advance was in danger of being derailed, but said "investors are still a little bit nervous."

The Dow increased 128.66 points, or 0.8 percent. The S&P 500 index rose 7.52, or 0.4 percent, to 1,770.49, just one point below its all-time high set Oct. 29. It's up 24 percent so far this year.

The Nasdaq composite fell 7.92 points, or 0.2 percent, to 3,931.95. The index reached a 13-year high at the end of last month.

Economists expect that the U.S. economy grew at an annualized pace of 2 percent in the July-to-September period, down from 2.5 percent the previous quarter, according to FactSet, a financial data provider. They also forecast that U.S. employers added 122,000 jobs in October, down from 148,000 the month before. Weak signals on the economy could mean a longer period of Fed stimulus.

In other company news Wednesday, Ralph Lauren was among the biggest gainers in the S&P 500.

The luxury retailer rose $9.33, or 5.5 percent, to $180.52 after raising its sales forecast for the year in anticipation of a strong holiday season. Ralph Lauren also increased its quarterly dividend by 12.5 percent to 45 cents.

Tesla Motors was among the biggest decliners in the Nasdaq. The electric carmaker's stock sank $25.65, or 14.5 percent, to $151.16 after it reported a loss; analysts had been expecting a profit. The stock is still up almost 350 percent this year after the company turned a profit and won raves for its Model S sedan, which starts at $70,000.

The drop in Tesla's stock was so steep that it triggered a "circuit breaker" on the Nasdaq exchange.

The rule, introduced by the Securities and Exchange Commission to prevent big stock declines from snowballing, puts restrictions on short-selling a stock that has dropped 10 percent or more from the previous day's closing price. When traders sell stocks short, they borrow the stock and immediately sell it in the hope of being able to buy the shares back later at a lower price.

In government bond trading, the yield on the 10-year note fell to 2.65 percent from 2.67 percent on Tuesday. The U.S. Treasury said Wednesday it will begin selling Treasury securities next year that have variable interest rates. It's the first new Treasury security in 17 years.

Among other stocks making big moves, Abercrombie & Fitch fell $5.18, or 13.5 percent, to $33.13. The teen apparel retailer cut its full-year profit forecast and reported a sharp drop in sales for the third quarter.


----------



## bigdog

Source: http://finance.yahoo.com 

Twitter popped, but the rest of the market dropped.

Twitter wowed investors with a 73 percent surge on its first day of trading Thursday. The broader market, however, had its worst day since August as traders worried that the Federal Reserve could cut back on its economic stimulus.

The cause of that worry was a surprisingly strong report on U.S. economic growth in the third quarter. That led investors to believe the Fed could start pulling back as soon as next month, sooner than many anticipated.

After 33 record-high closes this year, an increasing number of investors believe the stock market has become frothy and is ready for a pullback. The first-day surge in Twitter, a company that has never made a profit, was the latest example.

"The market had rallied a heck of a lot and to justify further gains, we really need to see the economy improving or corporate earnings picking up," said Alec Young, global equity strategist with S&P Capital IQ.

The Standard & Poor's 500 index fell 23.34 points, 1.3 percent, to 1,747.15. Even after Thursday's drop, the index is still up 22.5 percent this year. The last time the benchmark index had a bigger gain for a whole year was in 2009.

The Dow Jones industrial average retreated from the record high it set the day before, giving up 152.90 points, or 1 percent, to close at 15,593.98.

The Nasdaq composite lost 74.61 points, or 1.9 percent, to 3,857.33.

What got traders concerned about a pullback by the Fed was a report from the government early in the day that the U.S. economy expanded at an annual rate of 2.8 percent in the third quarter, up from 2.5 percent in the previous quarter and more than economists anticipated.

The robust growth "certainly raises the possibility of the Fed pulling back in December," said Peter Cardillo, chief market economist at Rockwell Global Capital. "The Fed is going to test the water."

The Fed is buying $85 billion of bonds every month to hold down interest rates and encourage hiring and borrowing. The program has also helped drive the stock market rally by lowering bond yields, making them less appealing to investors. 								

 *The NYSE DOW closed  	LOWER ▼	-152.9	points or ▼	-0.97%	on	Thursday, 7 November 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15593.98	▼	-152.9	▼	-0.97%		
	Nasdaq___	3857.33	▼	-74.61	▼	-1.90%		
	S&P_500__	1747.15	▼	-23.34	▼	-1.32%		
	30_Yr_Bond	3.726	▼	-0.043	▼	-1.14%		

NYSE Volume	 4,092,440,500 	 	 	 	 	  		 
Nasdaq Volume	 2,245,628,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6697.22	▼	-44.47	▼	-0.66%		
	DAX_____	9081.03	▲	40.16	▲	0.44%		
	CAC_40__	4280.99	▼	-5.94	▼	-0.14%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5415.4	▼	-10.6	▼	-0.20%		
	Shanghai_Comp	2129.4	▼	-10.21	▼	-0.48%		
	Taiwan_Weight	8283.71	▲	1.74	▲	0.02%		
	Nikkei_225____	14228.44	▼	-108.87	▼	-0.76%		
	Hang_Seng____	22881.03	▼	-155.91	▼	-0.68%		
	Strait_Times___	3202.1	▼	-3.19	▼	-0.10%		
	NZX_50_Index__	4922.69	▼	-21.88	▼	-0.44%		

http://finance.yahoo.com/news/stocks-sink-fed-worries-twitter-221318469.html

*Stocks sink on Fed worries, but Twitter surges

Stocks slide a day after record high as traders fear a Fed pullback; Twitter soars 73 percent*

By Steve Rothwell and Ken Sweet, AP Markets Writers

Twitter popped, but the rest of the market dropped.

Twitter wowed investors with a 73 percent surge on its first day of trading Thursday. The broader market, however, had its worst day since August as traders worried that the Federal Reserve could cut back on its economic stimulus.

The cause of that worry was a surprisingly strong report on U.S. economic growth in the third quarter. That led investors to believe the Fed could start pulling back as soon as next month, sooner than many anticipated.

After 33 record-high closes this year, an increasing number of investors believe the stock market has become frothy and is ready for a pullback. The first-day surge in Twitter, a company that has never made a profit, was the latest example.

"The market had rallied a heck of a lot and to justify further gains, we really need to see the economy improving or corporate earnings picking up," said Alec Young, global equity strategist with S&P Capital IQ.

The Standard & Poor's 500 index fell 23.34 points, 1.3 percent, to 1,747.15. Even after Thursday's drop, the index is still up 22.5 percent this year. The last time the benchmark index had a bigger gain for a whole year was in 2009.

The Dow Jones industrial average retreated from the record high it set the day before, giving up 152.90 points, or 1 percent, to close at 15,593.98.

The Nasdaq composite lost 74.61 points, or 1.9 percent, to 3,857.33.

Twitter soared $18.90 to $44.90. Twitter priced its initial public offering Wednesday night at $26 per share.

What got traders concerned about a pullback by the Fed was a report from the government early in the day that the U.S. economy expanded at an annual rate of 2.8 percent in the third quarter, up from 2.5 percent in the previous quarter and more than economists anticipated.

The robust growth "certainly raises the possibility of the Fed pulling back in December," said Peter Cardillo, chief market economist at Rockwell Global Capital. "The Fed is going to test the water."

The Fed is buying $85 billion of bonds every month to hold down interest rates and encourage hiring and borrowing. The program has also helped drive the stock market rally by lowering bond yields, making them less appealing to investors.

Another key economic report comes out on Friday, the government's jobs survey for October. Economists forecast that U.S. employers added 122,000 jobs, down from 148,000 the month before, reflecting a 16-day partial shutdown of the federal government.

The jobs report "has people a little on edge" said Erik Davidson, deputy chief investment officer of Wells Fargo Private Bank. "We're expecting a modest number but it's really hard to say what the impact of the government shutdown will be."

In government bond trading, the yield on the 10-year Treasury note fell to 2.60 percent from 2.64 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

An unexpectedly strong jobs report gave stocks a lift on Friday, pushing the Dow Jones industrial average back to an all-time high.

The gains were led by banks, such as Bank of America and JPMorgan Chase, which stand to benefit from a pickup in lending as the economy strengthens. Consumer-focused stocks such as Priceline.com and Disney also rose after reporting higher profits, and Gap soared after raising its earnings forecast. Losers included housing stocks and Twitter, which dropped 7 percent the day after its initial public offering.

The jobs survey left investors grappling with how to interpret this week's surprisingly strong economic data and what it means for the Federal Reserve's economic stimulus program. On Thursday the government reported that U.S. economic growth accelerated in the third quarter. The Fed's stimulus has helped power this year's stock rally.

"We're walking a tight wire with the Fed," said Rob Lutts, Chief Investment Officer at Cabot Money Management. Lutts said the job survey was positive because it showed the economy was improving, but perhaps not strongly enough to assure that Fed policymakers will pull back on its bond-buying program before the end of year.

The Dow gained 167.80 points, or 1.1 percent, to 15,761. The Dow also closed at a record high on Wednesday.

The Standard & Poor's 500 index ended 23.46 higher, or 1.3 percent, at 1,770.61, just a point below its record. The Nasdaq composite rose 61.90 points, or 1.6 percent, to 3,919.23.

Both the Dow and the S&P 500 recovered all of their losses from Thursday, when concern about the Fed withdrawing its stimulus outweighed optimism about faster economic growth.

The reaction to the jobs report was even more pronounced in the bond market. The yield on the 10-year Treasury note jumped to the highest in six weeks as investors sold bonds, anticipating less demand for them if the Fed slows its purchases. Rising interest rates are a sign that investors are more confident in the economy. They are a boon to banks because it means that they can lend money at higher rates.

The yield on the 10-year note jumped to 2.75 percent from 2.60 percent on Thursday, the highest level since Sept. 20. JPMorgan Chase rose $2.31, or 4.5 percent, to $53.96. Bank of America gained 52 cents, or 3.8 percent, to $14.32. 								

 *The NYSE DOW closed  	HIGHER ▲	167.8	points or ▲	1.08%	on	Friday, 8 November 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15761.78	▲	167.8	▲	1.08%		
	Nasdaq___	3919.23	▲	61.9	▲	1.60%		
	S&P_500__	1770.61	▲	23.46	▲	1.34%		
	30_Yr_Bond	3.842	▲	0.116	▲	3.11%		

NYSE Volume	 3,770,583,000 	 	 	 	 	  		 
Nasdaq Volume	 1,935,029,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6708.42	▲	11.2	▲	0.17%		
	DAX_____	9078.28	▼	-2.75	▼	-0.03%		
	CAC_40__	4260.44	▼	-20.55	▼	-0.48%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5394.4	▼	-21	▼	-0.39%		
	Shanghai_Comp	2106.13	▼	-23.27	▼	-1.09%		
	Taiwan_Weight	8229.59	▼	-54.12	▼	-0.65%		
	Nikkei_225____	14086.8	▼	-141.64	▼	-1.00%		
	Hang_Seng____	22744.39	▼	-136.64	▼	-0.60%		
	Strait_Times___	3177.25	▼	-24.85	▼	-0.78%		
	NZX_50_Index__	4951.36	▲	28.67	▲	0.58%		

http://finance.yahoo.com/news/dow-hits-another-high-hiring-211909805.html


*Dow hits another high on hiring surge last month*

*Dow Jones industrial average closes at record high after surprise surge in hiring last month*

By Ken Sweet and Steve Rothwell, AP Markets Writers

An unexpectedly strong jobs report gave stocks a lift on Friday, pushing the Dow Jones industrial average back to an all-time high.

The gains were led by banks, such as Bank of America and JPMorgan Chase, which stand to benefit from a pickup in lending as the economy strengthens. Consumer-focused stocks such as Priceline.com and Disney also rose after reporting higher profits, and Gap soared after raising its earnings forecast. Losers included housing stocks and Twitter, which dropped 7 percent the day after its initial public offering.

The jobs survey left investors grappling with how to interpret this week's surprisingly strong economic data and what it means for the Federal Reserve's economic stimulus program. On Thursday the government reported that U.S. economic growth accelerated in the third quarter. The Fed's stimulus has helped power this year's stock rally.

"We're walking a tight wire with the Fed," said Rob Lutts, Chief Investment Officer at Cabot Money Management. Lutts said the job survey was positive because it showed the economy was improving, but perhaps not strongly enough to assure that Fed policymakers will pull back on its bond-buying program before the end of year.

The Dow gained 167.80 points, or 1.1 percent, to 15,761. The Dow also closed at a record high on Wednesday.

The Standard & Poor's 500 index ended 23.46 higher, or 1.3 percent, at 1,770.61, just a point below its record. The Nasdaq composite rose 61.90 points, or 1.6 percent, to 3,919.23.

Both the Dow and the S&P 500 recovered all of their losses from Thursday, when concern about the Fed withdrawing its stimulus outweighed optimism about faster economic growth.

The reaction to the jobs report was even more pronounced in the bond market. The yield on the 10-year Treasury note jumped to the highest in six weeks as investors sold bonds, anticipating less demand for them if the Fed slows its purchases. Rising interest rates are a sign that investors are more confident in the economy. They are a boon to banks because it means that they can lend money at higher rates.

The yield on the 10-year note jumped to 2.75 percent from 2.60 percent on Thursday, the highest level since Sept. 20. JPMorgan Chase rose $2.31, or 4.5 percent, to $53.96. Bank of America gained 52 cents, or 3.8 percent, to $14.32.

Housing stocks were among the biggest decliners on Friday.

Higher Treasury yields lead to higher mortgage rates, and that in turn can hurt demand for homes. Lennar fell $1.45, or 4.2 percent, to $32.79. PulteGroup dropped 66 cents, or 3.8 percent, to $16.85.

The government reported that U.S. employers added 204,000 jobs in October, an unexpected burst of hiring during a month in which the federal government was partially shut down for 16 days. The job additions were far greater than the 130,000 economists were expecting, according to FactSet, a financial data provider.

The jobs report was the second piece of unexpectedly robust economic news that Wall Street received in the past two days. The Commerce Department said Thursday that the U.S. economy grew at a 2.8 percent annualized rate in the third quarter, better than the 2.5 percent rate economists were looking for.

The Federal Reserve has been buying $85 billion worth of bonds each month since last December to keep long-term interest rates low and encourage hiring and borrowing. The program has also helped drive up stock prices by making bonds look expensive by comparison.

Some analysts say the impact of the Fed's stimulus on the stock market's rise has been overstated, compared to factors such as rising corporate earnings. Removing the stimulus would likely benefit the economy by eliminating one of the uncertainties facing U.S. businesses, said Liz Ann Sonders, chief investment strategist at Charles Schwab.

"It's time we rip the Band-Aid off," Sonders said. "If it's the data that supports it, all the better."

Almost 90 percent of the companies in the S&P 500 have reported their results for the third quarter, and their earnings are forecast to have grown 5.6 percent in the period. That compares with growth of 4.9 percent in the second quarter and 2.4 percent in the same period a year ago.

Among other stocks making big moves:

”” Gap rose $3.68, or 9.7 percent, to $41.43 after the retailer reported solid gains in sales for October and gave an upbeat profit forecast for its third quarter.

”” Priceline rose $50.31, or 4.9 percent, to $1,073.20 after the online booking company said its profit rose 40 percent in the third quarter, as bookings for flights, rental cars and hotels rose.

”” Walt Disney rose $1.43, or 2.1 percent, to $68.53 after the company's earnings rose 12 percent in its fiscal fourth quarter, beating analysts' expectations.

”” Twitter fell $3.25, or 7.2 percent, to $41.65 on the social media company's second day of trading. The stock surged 73 percent above its IPO price on Thursday.

5301


----------



## bigdog

Source: http://finance.yahoo.com 

The Dow Jones industrial average rose to another all-time high on Wall Street Monday.

The market edged higher from Friday, when it got a lift from an unexpectedly strong U.S. jobs report for October. The surge in hiring made investors more optimistic that the U.S. economy is getting stronger.

Stock trading volume was among the lowest of the year, and bond markets were closed for Veterans Day. Traders on the floor of the New York Stock Exchange held a moment of silence in observance of the holiday.

The Dow has advanced for five straight weeks and is up 20 percent so far this year. The last time the Dow had a bigger gain for a whole year was 2003, when it rose 25 percent.

Other major indexes have also surged. Stocks have been propelled higher this year by economic stimulus from the Federal Reserve, a gradually improving economy and rising company earnings.

Given that the market is "up hugely" this year, investors may be hesitant to put more money into stocks, said Andres Garcia-Amaya, a global market strategist at JPMorgan Funds. "At the same time, I don't think people are going to leave at this point," he said.

Investors have put $12.7 billion into U.S. stock mutual funds this year, after pulling money out of the stock market in each of the past five years, according to Investment Company Institute data.

The Dow rose 21.32 points, or 0.1 percent, to 15,783.10 The index of 30 blue-chip stocks has closed at a record 35 times this year.

The Standard & Poor's 500 index gained 1.28 points, or 0.1 percent, to 1,771.89, just 0.06 point below its own record high reached on Oct. 29. The Nasdaq composite rose 0.56 points, less than 0.1 percent, to 3,919.79.

Stocks can rise further from these levels, but the market's rate of ascent will likely slow given the big gains over the last four and a half years, said Phil Orlando, chief equity market strategist at Federated Investors. The S&P 500 is up more than 160 percent since bottoming out in March 2009.

"The easy money has been made," said Orlando. "We can continue to go higher, but that process is going to be a grind over the next couple of years."

Investors this week will look for evidence that Americans are ready to start spending for the holidays. Macy's, Wal-Mart, Nordstrom and Kohl's are scheduled to report their quarterly results.

About ninety percent of companies in the S&P 500 have released their third-quarter earnings, and the majority beat the expectations of Wall Street analysts, according to data from S&P Capital IQ.

Earnings are forecast to grow by 5.6 percent in the July-to-September period, compared with 4.9 percent in the second quarter and 2.4 percent in the same period a year earlier.

Investors will be closely following the Senate Banking Committee's confirmation hearing for Janet Yellen on Thursday. Yellen has been nominated to succeed Federal Reserve Chairman Ben Bernanke, becoming the first woman to lead the U.S. central bank. 								

 *The NYSE DOW closed  	HIGHER ▲	21.32	points or ▲	0.14%	on	Monday, 11 November 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15783.1	▲	21.32	▲	0.14%		
	Nasdaq___	3919.79	▲	1.67	▲	0.04%		
	S&P_500__	1771.89	▲	1.28	▲	0.07%		
	30_Yr_Bond	3.85	▲	0.01	▲	0.16%		

NYSE Volume	 2,521,517,750 	 	 	 	 	  		 
Nasdaq Volume	 1,567,282,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6728.37	▲	19.95	▲	0.30%		
	DAX_____	9107.86	▲	29.58	▲	0.33%		
	CAC_40__	4290.14	▲	29.7	▲	0.70%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5380.8	▼	-13.6	▼	-0.25%		
	Shanghai_Comp	2109.47	▲	3.34	▲	0.16%		
	Taiwan_Weight	8182.56	▼	-47.03	▼	-0.57%		
	Nikkei_225____	14269.84	▲	183.04	▲	1.30%		
	Hang_Seng____	23069.85	▲	325.46	▲	1.43%		
	Strait_Times___	3186.72	▲	9.47	▲	0.30%		
	NZX_50_Index__	4922.17	▼	-29.19	▼	-0.59%		

http://finance.yahoo.com/news/dow-jones-average-reaches-another-214506461.html


*Dow Jones average reaches another record high

Dow Jones industrial average closes at a record; S&P 500 just shy of its own all-time high*

By Steve Rothwell, AP Markets Writer

The Dow Jones industrial average rose to another all-time high on Wall Street Monday.

The market edged higher from Friday, when it got a lift from an unexpectedly strong U.S. jobs report for October. The surge in hiring made investors more optimistic that the U.S. economy is getting stronger.

Stock trading volume was among the lowest of the year, and bond markets were closed for Veterans Day. Traders on the floor of the New York Stock Exchange held a moment of silence in observance of the holiday.

The Dow has advanced for five straight weeks and is up 20 percent so far this year. The last time the Dow had a bigger gain for a whole year was 2003, when it rose 25 percent.

Other major indexes have also surged. Stocks have been propelled higher this year by economic stimulus from the Federal Reserve, a gradually improving economy and rising company earnings.

Given that the market is "up hugely" this year, investors may be hesitant to put more money into stocks, said Andres Garcia-Amaya, a global market strategist at JPMorgan Funds. "At the same time, I don't think people are going to leave at this point," he said.

Investors have put $12.7 billion into U.S. stock mutual funds this year, after pulling money out of the stock market in each of the past five years, according to Investment Company Institute data.

The Dow rose 21.32 points, or 0.1 percent, to 15,783.10 The index of 30 blue-chip stocks has closed at a record 35 times this year.

The Standard & Poor's 500 index gained 1.28 points, or 0.1 percent, to 1,771.89, just 0.06 point below its own record high reached on Oct. 29. The Nasdaq composite rose 0.56 points, less than 0.1 percent, to 3,919.79.

Stocks can rise further from these levels, but the market's rate of ascent will likely slow given the big gains over the last four and a half years, said Phil Orlando, chief equity market strategist at Federated Investors. The S&P 500 is up more than 160 percent since bottoming out in March 2009.

"The easy money has been made," said Orlando. "We can continue to go higher, but that process is going to be a grind over the next couple of years."

Investors this week will look for evidence that Americans are ready to start spending for the holidays. Macy's, Wal-Mart, Nordstrom and Kohl's are scheduled to report their quarterly results.

About ninety percent of companies in the S&P 500 have released their third-quarter earnings, and the majority beat the expectations of Wall Street analysts, according to data from S&P Capital IQ.

Earnings are forecast to grow by 5.6 percent in the July-to-September period, compared with 4.9 percent in the second quarter and 2.4 percent in the same period a year earlier.

Investors will be closely following the Senate Banking Committee's confirmation hearing for Janet Yellen on Thursday. Yellen has been nominated to succeed Federal Reserve Chairman Ben Bernanke, becoming the first woman to lead the U.S. central bank.

Yellen's testimony "is coming at an important inflection point," for financial markets, as the Fed considers pulling back on its stimulus, said Quincy Krosby, market strategist at Prudential Financial. The Fed is currently buying $85 billion of bonds every month and holding its benchmark interest rate close to zero to stimulate economic growth.

"The market will be looking for any clues" about the Fed's policy going forward, Krosby said.

The yield on the 10-year Treasury note jumped last week to 2.75 percent, the highest in six weeks, after the government reported last month's surge in hiring.

In commodities trading, the price of oil rose 54 cents, or 0.6 percent, to $95.14 a barrel. The price of gold fell $3.50, or 0.3 percent, to $1,281.10 an ounce.

Among stocks making big moves:

”” ViroPharma jumped $10.04, or 26 percent, to $49.42 after the company agreed to be acquired by drugmaker Shire PLC.

”” Transocean rose $1.92, or 3.6 percent, to $55.37 after the company said it had agreed to settle a months-long proxy fight with billionaire investor and minority shareholder Carl Icahn. The company will pay a $3-a-share dividend and reduce the size of its board.

”” Best Buy rose $1.92, or 4.5 percent, to $44.33 after an analyst at UBS lifted his rating on the stock to "buy" from "neutral" and raised his price target on the stock in anticipation of better earnings. Best Buy has risen 274 percent this year, making it the best performer in the S&P 500 index.


----------



## bigdog

Source: http://finance.yahoo.com 

Disappointing company earnings and falling oil prices pulled stocks back from record highs on Tuesday.

NRG Energy slumped after the company lowered its earnings forecast, leading other power companies lower. News Corp. fell after the media company posted an unexpected revenue decline due to weakness at its Australian newspapers. Energy stocks declined after oil dropped to a five-month low.

Winners included airlines. The gains were led by JetBlue Airways after the Justice Department said it cleared the way for American Airlines and US Airways to merge, creating the world's biggest airline.

This year's 24 percent surge in the stock market has slowed in November. The Standard & Poor's 500 has edged up 0.6 percent this month after an average monthly increase of 1.7 percent in the previous 10 months.

"The market looks tired to us," said Jim Russell, a regional investment director at US Bank. "A little bit of a pause is actually healthy," allowing the economy time to catch up to the gains the stock market has made.

After closing at an all-time high on three of the previous four trading days, the Dow Jones industrial average fell 32.43 points, or 0.2 percent, to 15,750.67. The S&P 500 index dropped 4.20 points, or 0.2 percent, to 1,767.69 points. The Nasdaq composite edged up 0.13 point to 3,919.92. 	

Stocks have climbed this year as the Federal Reserve has maintained its $85 billion in monthly bond purchases to keep interest rates low and encourage borrowing and hiring. Now, investors may start focusing more on an improving economy rather than the future of the Fed's economic stimulus program, said Joe Quinlan, chief market strategist for U.S. Trust Bank of America Private Wealth Management.

The U.S. economy expanded at an annual rate of 2.8 percent in the third quarter, up from 2.5 percent in the previous quarter and more than economists anticipated, the government reported last Thursday. That was followed by an unexpectedly strong October jobs report.

"Economic data has really come in strong of late," said Douglas Cote, chief market strategist at ING Investment Management. "There's a lot of room for this market to continue higher in 2014."

Investors will also be following Thursday's confirmation hearing for Janet Yellen, who has been nominated to succeed Fed Chairman Ben Bernanke. They'll look for clues about when the Fed may begin to scale back its economic stimulus.

"Some discussion of tapering could well take place" next month, Fed Bank of Atlanta President Dennis Lockhart said Thursday in a radio interview with Bloomberg Radio. The Fed's last policy meeting of the year starts Dec. 18.

In U.S. government bond trading, the yield on the 10-year Treasury note climbed to 2.78 percent from 2.75 percent Friday. The bond market was closed Monday for the Veterans Day holiday.							

 *The NYSE DOW closed  	LOWER ▼	-32.43	points or ▼	-0.21%	on	Tuesday, 12 November 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15750.67	▼	-32.43	▼	-0.21%		
	Nasdaq___	3919.92	▲	0.13	▲	0.00%		
	S&P_500__	1767.69	▼	-4.2	▼	-0.24%		
	30_Yr_Bond	3.86	▲	0.01	▲	0.18%		

NYSE Volume	 3,221,109,750 	 	 	 	 	  		 
Nasdaq Volume	 1,755,957,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6726.79	▼	-1.58	▼	-0.02%		
	DAX_____	9076.48	▼	-31.38	▼	-0.34%		
	CAC_40__	4263.78	▼	-26.36	▼	-0.61%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5386.8	▲	6	▲	0.11%		
	Shanghai_Comp	2126.77	▲	17.3	▲	0.82%		
	Taiwan_Weight	8195.26	▲	12.7	▲	0.16%		
	Nikkei_225____	14588.68	▲	318.84	▲	2.23%		
	Hang_Seng____	22901.41	▼	-168.44	▼	-0.73%		
	Strait_Times___	3180.25	▼	-6.47	▼	-0.20%		
	NZX_50_Index__	4915.67	▼	-6.5	▼	-0.13%		

http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*US stocks fall as earnings disappoint

Stocks fall as disappointing earnings drag on NRG Energy and oil's drop hits energy stocks*

By Steve Rothwell, AP Markets Writer

Disappointing company earnings and falling oil prices pulled stocks back from record highs on Tuesday.

NRG Energy slumped after the company lowered its earnings forecast, leading other power companies lower. News Corp. fell after the media company posted an unexpected revenue decline due to weakness at its Australian newspapers. Energy stocks declined after oil dropped to a five-month low.

Winners included airlines. The gains were led by JetBlue Airways after the Justice Department said it cleared the way for American Airlines and US Airways to merge, creating the world's biggest airline.

This year's 24 percent surge in the stock market has slowed in November. The Standard & Poor's 500 has edged up 0.6 percent this month after an average monthly increase of 1.7 percent in the previous 10 months.

"The market looks tired to us," said Jim Russell, a regional investment director at US Bank. "A little bit of a pause is actually healthy," allowing the economy time to catch up to the gains the stock market has made.

After closing at an all-time high on three of the previous four trading days, the Dow Jones industrial average fell 32.43 points, or 0.2 percent, to 15,750.67. The S&P 500 index dropped 4.20 points, or 0.2 percent, to 1,767.69 points. The Nasdaq composite edged up 0.13 point to 3,919.92.

Six of the 10 industry groups in the S&P 500 index fell. Banks and utilities slid the most.

NRG Energy was one of the biggest decliners in the S&P 500, slipping 98 cents, or 3.5 percent, to $27.06. News Corp. fell 27 cents, or 1.5 percent, to $17.15.

Energy stocks fell broadly. Pioneer Natural Resources, an oil exploration company, dropped $5.63, or 3 percent, to $182.70. Chevron lost $1.20, or 0.9 percent, to $120.

Stocks have climbed this year as the Federal Reserve has maintained its $85 billion in monthly bond purchases to keep interest rates low and encourage borrowing and hiring. Now, investors may start focusing more on an improving economy rather than the future of the Fed's economic stimulus program, said Joe Quinlan, chief market strategist for U.S. Trust Bank of America Private Wealth Management.

The U.S. economy expanded at an annual rate of 2.8 percent in the third quarter, up from 2.5 percent in the previous quarter and more than economists anticipated, the government reported last Thursday. That was followed by an unexpectedly strong October jobs report.

"Economic data has really come in strong of late," said Douglas Cote, chief market strategist at ING Investment Management. "There's a lot of room for this market to continue higher in 2014."

Investors will also be following Thursday's confirmation hearing for Janet Yellen, who has been nominated to succeed Fed Chairman Ben Bernanke. They'll look for clues about when the Fed may begin to scale back its economic stimulus.

"Some discussion of tapering could well take place" next month, Fed Bank of Atlanta President Dennis Lockhart said Thursday in a radio interview with Bloomberg Radio. The Fed's last policy meeting of the year starts Dec. 18.

In U.S. government bond trading, the yield on the 10-year Treasury note climbed to 2.78 percent from 2.75 percent Friday. The bond market was closed Monday for the Veterans Day holiday.

In commodities trading, the price of oil slumped as the market anticipated another increase in domestic supplies. Oil fell $2.10, or 2.2 percent, to $93.04 a barrel, its lowest price in five months.

Among other stocks making big moves:

”” Dean Foods, a major milk producer, dropped $1.51, or 7.7 percent, to $18.20 after cutting its profit forecast.

”” JetBlue rose 47 cents, or 6.1 percent, to $8.16 after the government said it had reached a settlement with US Airways and American Airlines. American and US Airways will have to give up takeoff and landing slots at major airports as part of the deal.

”” D.R. Horton rose 85 cents, or 4.7 percent, to $18.91 after the homebuilder said its net income jumped 39 percent in its fiscal fourth quarter and that sales of new homes rose in October.


----------



## bigdog

Source: http://finance.yahoo.com 

*MY APOLOGIES FOR MY EARLY POSTING TODAY US TIME 1:27 pm NY TIME
-- I am in Hawaii on holidays and off to Waikiki shortly for a tour*

Stocks were mixed on Wall Street Wednesday as investors weighed signs of an improving economy against the prospect of the Federal Reserve cutting back on its economic stimulus.

Chegg, an online textbook rental company, flopped in its stock market debut, and clothing maker Perry Ellis plunged after cutting its revenue forecast because of weak sales. Macy's rose after beating analysts' earnings estimates.

The Federal Reserve is buying $85 billion of bonds a month to keep interest rates low and support the economy, helping drive a rally in stocks this year that has pushed indexes to record highs. Surprisingly strong reports on economic growth and hiring last week have led investors to speculate that the Fed may pare back its stimulus sooner than expected.

The stock market has fallen back this week from record levels as the number of companies reporting third-quarter earnings has slowed and in the absence of any major economic reports.

"We're in a pause as everyone waits for more data," said Kate Warne, an investment strategist at Edward Jones, an investment adviser. "There's obviously a lot of speculation about when the Fed will decide to move."

Investors will closely follow Thursday's confirmation hearing for Janet Yellen, who has been nominated to succeed Fed Chairman Ben Bernanke, for clues about when the Fed may begin to reduce its economic stimulus.

The Dow Jones industrial average was down 14 points, or 0.1 percent, to 15,736 as of 12:30 p.m. Eastern time. It was down as much as 78 points earlier.

The Standard & Poor's 500 index was up three points, or 0.2 percent, to 1,770. The Nasdaq composite rose 18 points, or 0.5 percent, to 3,938.

The market started lower but turned mixed by midday. Half of the 10 industry groups in the S&P 500 were down and the other half were up. Slightly more stocks rose than fell on the New York Stock Exchange. 								

 *The NYSE DOW closed  	HIGHER ▲	-0.63	points or ▲	0.00%	on	Tuesday, 12 November 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15750.04	▼	-0.63	▲	0.00%		
	Nasdaq___	3942.27	▲	22.35	▲	0.57%		
	S&P_500__	1772.63	▲	4.94	▲	0.28%		
	30_Yr_Bond	3.84	▼	-0.02	▼	-0.47%		

NYSE Volume	 1,815,962,880 	 	 	 	 	  		 
Nasdaq Volume	 960,021,310 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6630	▼	-96.79	▼	-1.44%		
	DAX_____	9054.83	▼	-21.65	▼	-0.24%		
	CAC_40__	4239.94	▼	-23.84	▼	-0.56%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5317.5	▼	-69.3	▼	-1.29%		
	Shanghai_Comp	2087.94	▼	-38.83	▼	-1.83%		
	Taiwan_Weight	8104.26	▼	-91	▼	-1.11%		
	Nikkei_225____	14567.16	▼	-21.52	▼	-0.15%		
	Hang_Seng____	22463.83	▼	-437.58	▼	-1.91%		
	Strait_Times___	3166.74	▼	-13.51	▼	-0.42%		
	NZX_50_Index__	4918.66	▲	2.99	▲	0.06%		

http://finance.yahoo.com/news/stocks-turn-mixed-wall-street-173906210.html


*Stocks turn mixed on Wall Street

Stocks are mixed as investors mull the outlook for Federal Reserve's stimulus program*

By Steve Rothwell, AP Markets Writer 

Stocks were mixed on Wall Street Wednesday as investors weighed signs of an improving economy against the prospect of the Federal Reserve cutting back on its economic stimulus.

Chegg, an online textbook rental company, flopped in its stock market debut, and clothing maker Perry Ellis plunged after cutting its revenue forecast because of weak sales. Macy's rose after beating analysts' earnings estimates.

The Federal Reserve is buying $85 billion of bonds a month to keep interest rates low and support the economy, helping drive a rally in stocks this year that has pushed indexes to record highs. Surprisingly strong reports on economic growth and hiring last week have led investors to speculate that the Fed may pare back its stimulus sooner than expected.

The stock market has fallen back this week from record levels as the number of companies reporting third-quarter earnings has slowed and in the absence of any major economic reports.

"We're in a pause as everyone waits for more data," said Kate Warne, an investment strategist at Edward Jones, an investment adviser. "There's obviously a lot of speculation about when the Fed will decide to move."

Investors will closely follow Thursday's confirmation hearing for Janet Yellen, who has been nominated to succeed Fed Chairman Ben Bernanke, for clues about when the Fed may begin to reduce its economic stimulus.

The Dow Jones industrial average was down 14 points, or 0.1 percent, to 15,736 as of 12:30 p.m. Eastern time. It was down as much as 78 points earlier.

The Standard & Poor's 500 index was up three points, or 0.2 percent, to 1,770. The Nasdaq composite rose 18 points, or 0.5 percent, to 3,938.

The market started lower but turned mixed by midday. Half of the 10 industry groups in the S&P 500 were down and the other half were up. Slightly more stocks rose than fell on the New York Stock Exchange.

The stocks of consumer companies got a lift from Macy's, which jumped $4.35, or 9.3 percent, to $49.95.

In government bond trading, the yield on the 10-year Treasury note fell to 2.74 percent from 2.77 percent Tuesday.

About 90 percent of companies in the S&P 500 have now reported their third-quarter results, and earnings are projected to rise by 5.6 percent in the July-to-September period, according to S&P Capital IQ data. That's better than the 4.9 percent growth recorded in the second quarter and better than the 2.4 percent growth in same period a year ago.

The strong trend in company earnings should help the stock market rebound from any sell-off induced by concerns that the Fed is set to cut its stimulus, said Dan Morris, Global Investment Strategist at TIAA-CREF, an asset management company.

"What really matters are earnings for corporations," Morris said. "If people focus on that, it's all pretty good."

In commodities trading, the price of oil rebounded after a slump on Tuesday. Oil rose $1.27, or 1.3 percent, to $94.34 a barrel. Gold rose $1.25, or 0.1 percent, to $1,272.60 an ounce.

Among other stocks making big moves:

””Chegg dropped $2.37, or 19 percent, to $10.13 on its first day of trading.

”” Potbelly Corp. rose $4.52, or 16.6 percent, to $31.55, after its third-quarter adjusted earnings came in ahead of market expectations. It was the restaurant operator's first quarter as a publicly traded company.

”” Perry Ellis fell $4.30, or 22 percent, to $15.18 after lowering its revenue forecast, citing fewer shipments and lower sales through its direct retail channel. The clothing company also cut its full-year forecast.


----------



## bigdog

Source: http://finance.yahoo.com 

Not all record days on the stock market are created equal.

Major U.S. indexes rose to all-time highs for the second day in a row Thursday, but the gains were driven by stocks that investors tend to buy when they want to avoid risk, such as power companies, banks and drug makers.

The flight to less-volatile stocks and those that pay bigger-than-average dividends suggested that investors are becoming more cautious after a 26 percent surge in the market this year. More investors are saying the market has risen too far, too fast given the sluggish state of the U.S. economy.

"The legion of people in the last three months who think this market has topped out has grown significantly," said JJ Kinahan, chief strategist at TD Ameritrade. However, Kinahan said the general tendency for the market is still to move higher.

Across the market, the most popular names were "defensive" stocks, ones that are seen as more likely to hold up in a downturn. Northeast Utilities, New England's largest utility, rose 2 percent. Oil refining company Valero Energy rose 4 percent and life insurance company MetLife increased 3 percent.

The Dow Jones utility index, which is made up of 15 large utility companies, rose 1 percent, double the gain in the broader market. On the flip side, small-company stocks, which are viewed as more risky than larger, more established companies, were the only major category of stocks to fall. The Russell 2000 index edged lower.

The Dow Jones industrial average gained 54.59 points, or 0.4 percent, to 15,876.22, while the Standard & Poor's 500 index added 8.62 points, or 0.5 percent, to 1,790.62. Both were record highs.

The Nasdaq composite edged up 7.16 points, or 0.2 percent, to 3,972.74. 								

 *The NYSE DOW closed  	HIGHER ▲	54.59	points or ▲	0.35%	on	Thursday, 14 November 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15876.22	▲	54.59	▲	0.35%		
	Nasdaq___	3972.74	▲	7.17	▲	0.18%		
	S&P_500__	1790.62	▲	8.62	▲	0.48%		
	30_Yr_Bond	3.8	▼	-0.03	▼	-0.76%		

NYSE Volume	 3,121,031,250 	 	 	 	 	  		 
Nasdaq Volume	 1,926,808,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6666.13	▲	36.13	▲	0.54%		
	DAX_____	9149.66	▲	94.83	▲	1.05%		
	CAC_40__	4283.91	▲	43.97	▲	1.04%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5352	▲	34.5	▲	0.65%		
	Shanghai_Comp	2100.51	▲	12.57	▲	0.60%		
	Taiwan_Weight	8134.91	▲	30.65	▲	0.38%		
	Nikkei_225____	14876.41	▲	309.25	▲	2.12%		
	Hang_Seng____	22649.15	▲	185.32	▲	0.82%		
	Strait_Times___	3191.08	▲	24.34	▲	0.77%		
	NZX_50_Index__	4927.18	▲	8.52	▲	0.17%		

http://finance.yahoo.com/news/hunt-safety-drives-wall-street-220814938.html


*Hunt for safety drives Wall Street to record high

Latest record highs on Wall Street are set as investors seek comfort in lower-risk stocks*

By Ken Sweet, AP Markets Writer

Not all record days on the stock market are created equal.

Major U.S. indexes rose to all-time highs for the second day in a row Thursday, but the gains were driven by stocks that investors tend to buy when they want to avoid risk, such as power companies, banks and drug makers.

The flight to less-volatile stocks and those that pay bigger-than-average dividends suggested that investors are becoming more cautious after a 26 percent surge in the market this year. More investors are saying the market has risen too far, too fast given the sluggish state of the U.S. economy.

"The legion of people in the last three months who think this market has topped out has grown significantly," said JJ Kinahan, chief strategist at TD Ameritrade. However, Kinahan said the general tendency for the market is still to move higher.

Across the market, the most popular names were "defensive" stocks, ones that are seen as more likely to hold up in a downturn. Northeast Utilities, New England's largest utility, rose 2 percent. Oil refining company Valero Energy rose 4 percent and life insurance company MetLife increased 3 percent.

The Dow Jones utility index, which is made up of 15 large utility companies, rose 1 percent, double the gain in the broader market. On the flip side, small-company stocks, which are viewed as more risky than larger, more established companies, were the only major category of stocks to fall. The Russell 2000 index edged lower.

The Dow Jones industrial average gained 54.59 points, or 0.4 percent, to 15,876.22, while the Standard & Poor's 500 index added 8.62 points, or 0.5 percent, to 1,790.62. Both were record highs.

The Nasdaq composite edged up 7.16 points, or 0.2 percent, to 3,972.74.

Network equipment maker Cisco Systems plunged after predicting a slump in sales, pulling other large technology companies down. Cisco sank $2.63, or 11 percent, to $21.36, Hewlett-Packard lost $1.42, or 5 percent, to $25.07 and Oracle fell 62 cents, or 2 percent, to $34.38.

Cisco, which relies heavily on government contracts, said its revenue for the current quarter could fall as much as 10 percent from the same period a year ago. The company's chief executive, John Chambers, blamed budget gridlock in Washington, which resulted in a partial shutdown of the federal government for 16 days and a near-breach of the nation's borrowing limit.

"The shutdown, debt ceiling negotiations and delay of key decisions exasperated the lack of confidence among business leaders," Chambers said in a conference call with analysts.

Investors pay close attention to what Cisco says because it's considered a proxy for business spending on technology. Cisco manufactures equipment that makes up the backbone of the Internet such as routers and servers.

At least one investor felt that Wall Street was overreacting to Cisco's results.

"Everything seemed hunky-dory in tech and then Cisco comes out and says this ... it stands out to me as a little bit of anomaly," said Daniel Morgan, a portfolio manager at Synovus Trust Company, who focuses mostly on technology investments. "It's a concern, but I don't think this is a reason to rethink my whole strategy," he said. Cisco is still up 21 percent over the past year.

The market was also helped by news out of Washington, D.C.

Janet Yellen, who has been nominated to replace Ben Bernanke as the lead of the Federal Reserve, made no indication she would deviate from the economic stimulus policies that Bernanke has championed. The comments came during her testimony in front of the Senate Banking Committee.

When asked her opinion about the recent rally in stock prices, Yellen said stocks "are not in bubble territory."


----------



## bigdog

Source: http://finance.yahoo.com 

 Investors stayed upbeat Friday, pushing U.S. stock indexes deeper into record territory.

Stocks climbed to all-time highs for the third straight day as investors assessed the prospect for further economic stimulus from the Federal Reserve.

Agilent Technologies, which makes scientific instruments, was the biggest gainer in the Standard & Poor's 500 index after reporting earnings that exceeded analysts' expectations. Exxon Mobil rose after billionaire Warren Buffett's company disclosed late Thursday that it had taken a stake in the oil company.

The S&P 500 has advanced for six straight weeks, part of an impressive rise this year. The index is up 26.1 percent so far. If it ends 2013 with a gain that big it would be the best performance in a decade.

Several factors have been driving the market higher this year. The Federal Reserve has kept up its extraordinary efforts to stimulate the economy. And while the U.S. economy's recovery has been plodding, it has been strong enough to enable corporations to keep increasing their profits.

"It's bland, it's vanilla, but it's sweet," said John Manley, chief equity strategist at Wells Fargo Fund Management.

Despite the surge, stock prices remain reasonable compared with earnings, Manley said. Stock valuations are "not cheap, but they're not prohibitive," he said.

The ratio of stock prices to forecast earnings for S&P 500 companies is currently 15, according to data from FactSet. That's slightly below the average ratio of 16.2 over the last 15 years and far below the peak of 25 recorded in the late 1990s and early 2000s.

The S&P 500 added 7.56 points, or 0.4 percent, to 1,798.18. All 10 of the industry groups in the S&P 500 rose.

The Dow Jones industrial average gained 85.48 points, or 0.5 percent, to 15,961.70. The Nasdaq composite rose 13.23 points, or 0.3 percent, to 3,985.97. 								

 *The NYSE DOW closed  	HIGHER ▲	85.48	points or ▲	0.54%	on	Friday, 15 November 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15961.7	▲	85.48	▲	0.54%		
	Nasdaq___	3985.97	▲	13.23	▲	0.33%		
	S&P_500__	1798.18	▲	7.56	▲	0.42%		
	30_Yr_Bond	3.8	▲	0	▲	0.03%		

NYSE Volume	 3,260,470,500 	 	 	 	 	  		 
Nasdaq Volume	 1,885,187,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6693.44	▲	27.31	▲	0.41%		
	DAX_____	9168.69	▲	19.03	▲	0.21%		
	CAC_40__	4292.23	▲	8.32	▲	0.19%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5396.2	▲	44.2	▲	0.83%		
	Shanghai_Comp	2135.83	▲	35.32	▲	1.68%		
	Taiwan_Weight	8177.12	▲	42.21	▲	0.52%		
	Nikkei_225____	15165.92	▲	289.51	▲	1.95%		
	Hang_Seng____	23032.15	▲	383	▲	1.69%		
	Strait_Times___	3201.27	▲	10.19	▲	0.32%		
	NZX_50_Index__	4914.08	▼	-13.1	▼	-0.27%		

http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3


*US stocks push through latest record highs

S&P 500 posts sixth straight week of gains, longest streak since February; Agilent jumps*

By Steve Rothwell, AP Markets Writer

 Investors stayed upbeat Friday, pushing U.S. stock indexes deeper into record territory.

Stocks climbed to all-time highs for the third straight day as investors assessed the prospect for further economic stimulus from the Federal Reserve.

Agilent Technologies, which makes scientific instruments, was the biggest gainer in the Standard & Poor's 500 index after reporting earnings that exceeded analysts' expectations. Exxon Mobil rose after billionaire Warren Buffett's company disclosed late Thursday that it had taken a stake in the oil company.

The S&P 500 has advanced for six straight weeks, part of an impressive rise this year. The index is up 26.1 percent so far. If it ends 2013 with a gain that big it would be the best performance in a decade.

Several factors have been driving the market higher this year. The Federal Reserve has kept up its extraordinary efforts to stimulate the economy. And while the U.S. economy's recovery has been plodding, it has been strong enough to enable corporations to keep increasing their profits.

"It's bland, it's vanilla, but it's sweet," said John Manley, chief equity strategist at Wells Fargo Fund Management.

Despite the surge, stock prices remain reasonable compared with earnings, Manley said. Stock valuations are "not cheap, but they're not prohibitive," he said.

The ratio of stock prices to forecast earnings for S&P 500 companies is currently 15, according to data from FactSet. That's slightly below the average ratio of 16.2 over the last 15 years and far below the peak of 25 recorded in the late 1990s and early 2000s.

The S&P 500 added 7.56 points, or 0.4 percent, to 1,798.18. All 10 of the industry groups in the S&P 500 rose.

The Dow Jones industrial average gained 85.48 points, or 0.5 percent, to 15,961.70. The Nasdaq composite rose 13.23 points, or 0.3 percent, to 3,985.97.

Agilent jumped $4.39, or 8.7 percent, to $54.93. Exxon Mobil, a member of the Dow, rose $2.05, or 2.2 percent, to $95.27.

Investors may be getting more comfortable with the prospect of the Fed cutting back on its stimulus as long as the economy is also improving, said Jim Dunigan, a managing executive at PNC Wealth Management. The stock market's biggest setbacks this year have come when investors worried that Fed policy makers were close to paring their $85 billion per month in bond purchases, which are intended to keep interest rates low.

"The path of least resistance (for stocks) seems to be higher right now," Dunigan said.

In government bond trading, the yield on the 10-year note rose to 2.71 percent from 2.70 percent from Thursday. Oil was flat at $93.71 a barrel. Gold rose $1.10 to $1,287.40 an ounce.

Among other stocks making big moves;

”” Zulily surged in its first day as a publicly traded company. The Seattle-based online retailer of baby products jumped $15.70, or 71 percent, to $37.70.

”” Vanda Pharmaceuticals soared $1.55, or 12 percent, to $14.59 after FDA advisers recommended approval for the company's potential sleep disorder drug tasimelteon.

”” Western Union fell 75 cents, or 4.3 percent, to $16.70 after the money-transfer company said late Thursday that its longtime chief financial officer would step down.

5839


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market broke through two milestones Monday before giving up nearly all its gains late in the day.

Stocks rose from the opening bell, lifting the Dow Jones industrial average above 16,000 for the first time and the Standard & Poor's 500 index past 1,800, two big markers in a historic bull market. But by the end of day, both indexes had fallen below those levels.

"The market is always a little hesitant when it gets to round numbers," says Ed Cowart, managing director at Eagle Asset Management. "You don't want to be the first guy buying at 16,000 on the Dow."

The Dow managed to eke out a gain over Friday's close with a late push higher, ending just 24 points shy of 16,000. Both the Dow and the S&P 500 are on track for their best year in a decade and have soared more than 140 percent since bottoming out in the Great Recession more than four years ago.

Investors have pushed stocks up sharply this year as the U.S. economy improves, companies report record profits and the Federal Reserve keeps up its easy-money policies.

"The Fed is still pumping money into the system, which is helping fuel the market," says Frank Fantozzi, CEO of Planned Financial Services, a wealth manager. "There's much more confidence in the market."

The Dow has risen for six weeks straight and is up 22 percent so far this year. The market hasn't risen that much in a whole year since 2003.

The Dow has closed above round-number milestones two times this year: 14,000 in early February and 15,000 in early October. The quick climb has led some experts to wonder whether stocks are too high and set to tumble.

Brad McMillan, chief investment officer for Commonwealth Financial, says he's not worried yet, but notes three ingredients of market froth are already present: investors borrowing record amounts to buy stock, more companies going public for the first time and Main Street investors putting money into the market after years of pulling out.

"Greed is taking over from fear," McMillan says.

Including this year's gains, the S&P 500 is up 165 percent from the start of the current bull market in March 2009, 56 months ago.

Bull markets dating back to the Great Depression have averaged 57 months, according to S&P Capital IQ, a research firm, however the duration of bull markets has varied greatly over time. The bull market of the 1990s lasted 113 months, for instance.

The S&P 500 closed down 6.65 points, or 0.4 percent, at 1,791.53. The Dow rose 14.32 points, or 0.09 percent, to 15,976.02.

The Nasdaq composite fell 36.90 points, or 0.9 percent, to 3,949.07. 								

 *The NYSE DOW closed  	HIGHER ▲	14.32	points or ▲	0.09%	on	Monday, 18 November 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15976.02	▲	14.32	▲	0.09%		
	Nasdaq___	3949.07	▼	-36.9	▼	-0.93%		
	S&P_500__	1791.53	▼	-6.65	▼	-0.37%		
	30_Yr_Bond	3.77	▼	-0.03	▼	-0.92%		

NYSE Volume	 3,152,511,250 	 	 	 	 	  		 
Nasdaq Volume	 1,793,142,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6723.46	▲	30.02	▲	0.45%		
	DAX_____	9225.43	▲	56.74	▲	0.62%		
	CAC_40__	4320.68	▲	28.45	▲	0.66%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5377.9	▼	-18.3	▼	-0.34%		
	Shanghai_Comp	2197.22	▲	61.39	▲	2.87%		
	Taiwan_Weight	8191.46	▲	14.34	▲	0.18%		
	Nikkei_225____	15164.3	▼	-1.62	▼	-0.01%		
	Hang_Seng____	23660.06	▲	627.91	▲	2.73%		
	Strait_Times___	3203.03	▲	1.76	▲	0.05%		
	NZX_50_Index__	4892.04	▼	-22.04	▼	-0.45%		

http://finance.yahoo.com/news/stocks-hit-round-number-milestones-220948208.html

*Stocks hit round-number milestones, then slip**

Dow tops 16,000 for first time, S&P 500 hits 1,800, then give up gains in late-day slump*

By Bernard Condon, AP Business Writer 

The stock market broke through two milestones Monday before giving up nearly all its gains late in the day.

Stocks rose from the opening bell, lifting the Dow Jones industrial average above 16,000 for the first time and the Standard & Poor's 500 index past 1,800, two big markers in a historic bull market. But by the end of day, both indexes had fallen below those levels.

"The market is always a little hesitant when it gets to round numbers," says Ed Cowart, managing director at Eagle Asset Management. "You don't want to be the first guy buying at 16,000 on the Dow."

The Dow managed to eke out a gain over Friday's close with a late push higher, ending just 24 points shy of 16,000. Both the Dow and the S&P 500 are on track for their best year in a decade and have soared more than 140 percent since bottoming out in the Great Recession more than four years ago.

Investors have pushed stocks up sharply this year as the U.S. economy improves, companies report record profits and the Federal Reserve keeps up its easy-money policies.

"The Fed is still pumping money into the system, which is helping fuel the market," says Frank Fantozzi, CEO of Planned Financial Services, a wealth manager. "There's much more confidence in the market."

The Dow has risen for six weeks straight and is up 22 percent so far this year. The market hasn't risen that much in a whole year since 2003.

The Dow has closed above round-number milestones two times this year: 14,000 in early February and 15,000 in early October. The quick climb has led some experts to wonder whether stocks are too high and set to tumble.

Brad McMillan, chief investment officer for Commonwealth Financial, says he's not worried yet, but notes three ingredients of market froth are already present: investors borrowing record amounts to buy stock, more companies going public for the first time and Main Street investors putting money into the market after years of pulling out.

"Greed is taking over from fear," McMillan says.

It's not clear whether stocks have become expensive yet or are just fairly priced. One measure of value, the ratio of stock prices to forecast earnings, is at 15 for S&P 500 companies. That is slightly below the 15-year average of 16.2, according to FactSet, a data provider.

Including this year's gains, the S&P 500 is up 165 percent from the start of the current bull market in March 2009, 56 months ago.

Bull markets dating back to the Great Depression have averaged 57 months, according to S&P Capital IQ, a research firm, however the duration of bull markets has varied greatly over time. The bull market of the 1990s lasted 113 months, for instance.

Investors have been betting that Fed stimulus policies are not likely to change soon. Janet Yellen, the nominee to succeed Ben Bernanke as Fed chairman, indicated in congressional testimony last week that she was prepared to keep interest rates low to help the economy.

Investors were also encouraged by a Chinese government announcement late Friday that it plans to open state industries to greater competition and allow more foreign investment. Many big U.S. companies have come to rely on emerging markets like China to boost revenue. About half of the revenue in the S&P 500 comes outside the U.S.

The S&P 500 closed down 6.65 points, or 0.4 percent, at 1,791.53. The Dow rose 14.32 points, or 0.09 percent, to 15,976.02.

The Nasdaq composite fell 36.90 points, or 0.9 percent, to 3,949.07.

Among stocks making big moves, Boeing rose $2.28, or 1.7 percent, to $138.36, the biggest gain in the Dow. The plane maker booked $100 billion in orders at the opening of the Dubai Airshow.

Tyson Foods jumped 65 cents, or 2.3 percent, to $29.42. The food company said its net income surged 41 percent in the latest quarter on higher sales of beef and chicken. The company raised its dividend 50 percent.

The yield on the 10-year Treasury note fell to 2.67 percent from 2.71 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

Disappointing earnings news helped push the stock market lower on Tuesday.

Electronics retailer Best Buy plunged after saying extended store hours and price-cutting could squeeze its fourth-quarter profit. Campbell Soup fell sharply after reporting that its profit slumped as sales of soups and V8 drinks fell. The two stocks were the biggest decliners in the Standard & Poor's 500 index.

Even with the slight decline the S&P 500 is still up 25 percent so far in 2013 and has risen for six weeks straight, the longest winning streak since February. The extended run-up has prompted a number of market watchers to call for caution.

"We've had a phenomenal run, particularly in the last few weeks. I wouldn't be surprised if we would pull back from here," said Alec Young, global equity strategist with S&P Capital IQ.

The Dow Jones industrial average edged down 8.99 points, or 0.1 percent, to 15,967.03, the first decline for the index in five days. The Standard & Poor's 500 index lost 3.66 points, or 0.2 percent, to 1,787.87 and the Nasdaq composite fell 17.51 points, or 0.4 percent, to 3,931.55.

The Dow Jones industrial average and the S&P 500 crossed round-number milestones in early trading Monday but failed to build on those advances. The Dow crossed 16,000 and the S&P 500 hit 1,800 for the first time before falling back to close below those levels both Monday and Tuesday.

Retailers were a key focus on Tuesday, especially with the holiday shopping season coming up. Black Friday, the day after Thanksgiving, is one of the biggest shopping days of the year. Consumer spending is a critical component of the U.S. economy, so how consumers behave during the closely watched holiday season will give investors a sign about the outlook for growth. 								

 *The NYSE DOW closed  	LOWER ▼	-8.99	points or ▼	-0.06%	on	Tuesday, 19 November 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15967.03	▼	-8.99	▼	-0.06%		
	Nasdaq___	3931.55	▼	-17.51	▼	-0.44%		
	S&P_500__	1787.87	▼	-3.66	▼	-0.20%		
	30_Yr_Bond	3.8	▲	0.04	▲	1.01%		

NYSE Volume	 3,199,989,000 	 	 	 	 	  		 
Nasdaq Volume	 1,714,892,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6698.01	▼	-25.45	▼	-0.38%		
	DAX_____	9193.29	▼	-32.14	▼	-0.35%		
	CAC_40__	4272.29	▼	-48.39	▼	-1.12%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5347.8	▼	-30.1	▼	-0.56%		
	Shanghai_Comp	2193.12	▼	-4.09	▼	-0.19%		
	Taiwan_Weight	8260.21	▲	68.75	▲	0.84%		
	Nikkei_225____	15126.56	▼	-37.74	▼	-0.25%		
	Hang_Seng____	23657.81	▼	-2.25	▼	-0.01%		
	Strait_Times___	3192.08	▼	-10.95	▼	-0.34%		
	NZX_50_Index__	4862.51	▼	-29.53	▼	-0.60%		

http://finance.yahoo.com/news/stocks-edge-lower-disappointing-earnings-215123723.html


*Stocks edge lower after disappointing earnings

US stocks edge lower after disappointing earnings news from Best Buy and Campbell Soup*

By Ken Sweet, AP Markets Writer

 Disappointing earnings news helped push the stock market lower on Tuesday.

Electronics retailer Best Buy plunged after saying extended store hours and price-cutting could squeeze its fourth-quarter profit. Campbell Soup fell sharply after reporting that its profit slumped as sales of soups and V8 drinks fell. The two stocks were the biggest decliners in the Standard & Poor's 500 index.

Even with the slight decline the S&P 500 is still up 25 percent so far in 2013 and has risen for six weeks straight, the longest winning streak since February. The extended run-up has prompted a number of market watchers to call for caution.

"We've had a phenomenal run, particularly in the last few weeks. I wouldn't be surprised if we would pull back from here," said Alec Young, global equity strategist with S&P Capital IQ.

The Dow Jones industrial average edged down 8.99 points, or 0.1 percent, to 15,967.03, the first decline for the index in five days. The Standard & Poor's 500 index lost 3.66 points, or 0.2 percent, to 1,787.87 and the Nasdaq composite fell 17.51 points, or 0.4 percent, to 3,931.55.

The Dow Jones industrial average and the S&P 500 crossed round-number milestones in early trading Monday but failed to build on those advances. The Dow crossed 16,000 and the S&P 500 hit 1,800 for the first time before falling back to close below those levels both Monday and Tuesday.

Retailers were a key focus on Tuesday, especially with the holiday shopping season coming up. Black Friday, the day after Thanksgiving, is one of the biggest shopping days of the year. Consumer spending is a critical component of the U.S. economy, so how consumers behave during the closely watched holiday season will give investors a sign about the outlook for growth.

Best Buy sank $4.78, or 11 percent, to $38.78 after its warning of a tough holiday trading period ahead. The company's stock is still up 227 percent this year, making it the second-best performer in the S&P 500 after Netflix.

Home Depot rose 71 cents, or 0.9 percent, to $80.38 after reporting income that surpassed analysts' expectations. The company also raised its earnings forecast for the year.

TJX Cos., which operates discount stores including T.J. Maxx and Marshalls, climbed 63 cents, or 1 percent, to $63.12. Its income rose 35 percent as sales improved at both U.S. and international stores.

Investors will turn their thoughts back to the Federal Reserve on Wednesday.

Minutes from the Fed's October meeting will be released at 2 p.m. and investors will scour them to get a read on the central bank's stimulus policy. The central bank is currently buying $85 billion of bonds a month to keep interest rates low and boost the economy. That has underpinned a rally in stocks.

Investors were also watching JPMorgan Chase. The bank reached a record $13 billion settlement with federal and New York State authorities, resolving claims over the bank's sales of mortgage-backed securities that collapsed during the U.S. housing crisis.

JPMorgan closed 41 cents, or 0.7 percent, higher at $56.15.

In government bond trading, the yield on the 10-year Treasury note edged up to 2.71 percent from 2.67 percent. Crude oil rose 31 cents, or 0.3 percent, to $93.34 a barrel and gold edged up $1.20, or 0.1 percent, to $1,273.50 an ounce.

Among other stocks making big moves:

”” United Continental rose $1.42, or 3.9 percent, to $37.80 after the airline operator told investors that it will cut costs, overhaul its website, and shift routes from Asia to Europe.

”” Campbell Soup dropped $2.61, or 6.2 percent, to $39.20 after reporting that its quarterly profit plunged 30 percent. A recall of the recently acquired Plum Organics products also hurt results, and the company cut its earnings forecast for the year.


----------



## bigdog

Source: http://finance.yahoo.com 

The latest news from the Federal Reserve spooked investors Wednesday.

Stock and bond prices fell after minutes from the Fed's latest meeting showed that the U.S. economy was improving steadily enough to warrant a reduction in its stimulus program in "coming months."

The Fed has been buying $85 billion every month in Treasury and mortgage-backed bonds, which keeps long-term interest rates artificially low and makes stocks seem inexpensive in comparison to bonds.

"Investors need to be prepared to see the Fed wind down its program in the long term," said Kristina Hooper, head of U.S. investment strategies for Allianz Global Investors.

The Fed's economic stimulus has been a key driver of the stock market's 25 percent surge this year, along with rising corporate profits and a recovering U.S. economy.

The Dow Jones industrial average lost 66.21 points, or 0.4 percent, to 15,900.82. It was up 20 points shortly before the minutes were released at 2 p.m. Eastern time.

The Standard & Poor's 500 index was lost 6.50 points, or 0.4 percent, to 1,781.37. The Nasdaq lost 10.28 points, or 0.3 percent, to 3,921.27.

The market began the day higher after an encouraging report on retail sales and better news from long-struggling J.C. Penney.

Investors already know the Fed will reduce its economic stimulus eventually, yet they remain highly sensitive to concrete signals that a pullback is imminent and worry that the Fed might withdraw its support before the economy is ready.

Bond prices also declined. The yield on the benchmark 10-year Treasury note rose sharply, to 2.80 percent from 2.71 percent just before the minutes were released. That's the highest since Sept. 17. Bond yields rise when demand for them falls.

The Fed's next policy meeting is scheduled for Dec. 17-18. Investors are split on whether the bank will vote to pull back its bond purchases, or "taper" them, as it is sometimes called on Wall Street. The Fed surprised investors at its Sept. 17-18 meeting by keeping the bond purchases in place, despite widespread predictions that it would start to wind the program down.

With Wednesday's decline, the S&P 500 is down roughly 1 percent for the week. The index hasn't had a weekly loss since the week ending Oct. 4. 								

 *The NYSE DOW closed  	LOWER ▼	-66.21	points or ▼	-0.41%	on	Wednesday, 20 November 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15900.82	▼	-66.21	▼	-0.41%		
	Nasdaq___	3921.27	▼	-10.28	▼	-0.26%		
	S&P_500__	1781.37	▼	-6.5	▼	-0.36%		
	30_Yr_Bond	3.9	▲	0.1	▲	2.66%		

NYSE Volume	 3,094,990,250 	 	 	 	 	  		 
Nasdaq Volume	 1,686,505,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6681.08	▼	-16.93	▼	-0.25%		
	DAX_____	9202.07	▲	8.78	▲	0.10%		
	CAC_40__	4268.37	▼	-3.92	▼	-0.09%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5304.6	▼	-43.2	▼	-0.81%		
	Shanghai_Comp	2206.61	▲	13.49	▲	0.62%		
	Taiwan_Weight	8204.46	▼	-55.75	▼	-0.67%		
	Nikkei_225____	15076.08	▼	-50.48	▼	-0.33%		
	Hang_Seng____	23700.86	▲	43.05	▲	0.18%		
	Strait_Times___	3184.23	▼	-7.85	▼	-0.25%		
	NZX_50_Index__	4840.36	▼	-22.14	▼	-0.46%		

http://finance.yahoo.com/news/worries-fed-pullback-sends-stocks-211649746.html


*Worries of a Fed pullback sends stocks lower

Worry that the Fed may move to reduce stimulus sends stocks down; 10-year Treasury yield rises*

By Ken Sweet, AP Markets Writer 

The latest news from the Federal Reserve spooked investors Wednesday.

Stock and bond prices fell after minutes from the Fed's latest meeting showed that the U.S. economy was improving steadily enough to warrant a reduction in its stimulus program in "coming months."

The Fed has been buying $85 billion every month in Treasury and mortgage-backed bonds, which keeps long-term interest rates artificially low and makes stocks seem inexpensive in comparison to bonds.

"Investors need to be prepared to see the Fed wind down its program in the long term," said Kristina Hooper, head of U.S. investment strategies for Allianz Global Investors.

The Fed's economic stimulus has been a key driver of the stock market's 25 percent surge this year, along with rising corporate profits and a recovering U.S. economy.

The Dow Jones industrial average lost 66.21 points, or 0.4 percent, to 15,900.82. It was up 20 points shortly before the minutes were released at 2 p.m. Eastern time.

The Standard & Poor's 500 index was lost 6.50 points, or 0.4 percent, to 1,781.37. The Nasdaq lost 10.28 points, or 0.3 percent, to 3,921.27.

The market began the day higher after an encouraging report on retail sales and better news from long-struggling J.C. Penney.

Investors already know the Fed will reduce its economic stimulus eventually, yet they remain highly sensitive to concrete signals that a pullback is imminent and worry that the Fed might withdraw its support before the economy is ready.

Bond prices also declined. The yield on the benchmark 10-year Treasury note rose sharply, to 2.80 percent from 2.71 percent just before the minutes were released. That's the highest since Sept. 17. Bond yields rise when demand for them falls.

The Fed's next policy meeting is scheduled for Dec. 17-18. Investors are split on whether the bank will vote to pull back its bond purchases, or "taper" them, as it is sometimes called on Wall Street. The Fed surprised investors at its Sept. 17-18 meeting by keeping the bond purchases in place, despite widespread predictions that it would start to wind the program down.

With Wednesday's decline, the S&P 500 is down roughly 1 percent for the week. The index hasn't had a weekly loss since the week ending Oct. 4.

Hooper and other market watchers said they would not be surprised if the market continued to fall. "It would not be unreasonable for investors to step back here," said Ron Florance, deputy chief investment officer for Wells Fargo Private Bank.

J.C. Penney led the S&P 500 index higher with an 8 percent gain. Despite reporting a loss in the third quarter, there were hopeful signs for the long-struggling store chain heading into the holiday shopping season. The company said its sales increased in October for the first time since December 2011. The stock rose 73 cents to $9.44. It's still down 52 percent this year.

Lowe's, the home improvement store chain, fell $3.11, or 6 percent, to $47.33. Lowe's earned 47 cents per share in the latest quarter, a penny short of what analysts were looking for. Lowe's was outshone by competitor Home Depot, which reported a 26 percent surge in net income the day before.

The holiday shopping season is a make-or-break time for U.S. retailers, and more broadly the U.S. economy. Sales during November and December can account for up to 40 percent of the annual revenue for store operators.

So far, there's reason to be hopeful. The National Retail Federation, the nation's largest retail trade group, expects holiday sales to increase 3.9 percent to $602.1 billion this year.

Separately, the U.S. Commerce Department said Wednesday that U.S. retail sales rose 0.4 percent in October. That was much better than the 0.1 percent increase economists had predicted, according to FactSet, a financial information provider.

"Consumers seem to be in a better mood, which will be good for the overall economy," Florance said.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market is poised for a "Perfect 10."

As stocks surge this year, putting them on course for their best annual performance in a decade, all ten industry groups in the Standard & Poor's 500 index are closing in on gains of 10 percent or more for 2013.

That hasn't happened in almost two decades.

The last year that all 10 industry groups in the S&P 500 closed the year higher by 10 percent or more was in 1995, when the overall index rose 31 percent. There have been several years of big yearly gains since, but none that have seen all the sectors notch double-digit jumps.

The S&P 500 gained 26 percent in 1998, but materials and energy stocks fell. The broader index advanced 26 percent in 2003 but phone companies and makers of consumer staples fell short of the 10 percent hurdle.

The reason for the broad gains this year? It's the first time since the Great Recession that investors are starting to believe that the economic recovery, while tepid, is sustainable, says Natalie Trunow, chief investment officer at Calvert Investments, an investment manager.

The housing market is recovering, hiring has picked up and people are less scared of losing their jobs. That has helped boost consumer confidence and support spending.

"Only 12 months ago, the markets were not convinced that we were in recovery mode," says Trunow, who notes there were fears the economy could slide back into recession as recently as last summer.

Here are the 10 industry groups in the S&P 500 index, which is up 26 percent so far in 2013. Here's how each sector has performed: 
--- SEE BELOW CHART FOR ANALYSIS								

 *The NYSE DOW closed  	HIGHER ▲	109.17	points or ▲	0.69%	on	Thursday, 21 November 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16009.99	▲	109.17	▲	0.69%		
	Nasdaq___	3969.15	▲	47.88	▲	1.22%		
	S&P_500__	1795.85	▲	14.48	▲	0.81%		
	30_Yr_Bond	3.88	▼	-0.02	▼	-0.56%		

NYSE Volume	 3,257,504,000 	 	 	 	 	  		 
Nasdaq Volume	 1,666,533,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6681.33	▲	0.25	▲	0.00%		
	DAX_____	9196.08	▼	-5.99	▼	-0.07%		
	CAC_40__	4253.9	▼	-14.47	▼	-0.34%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5284.3	▼	-20.3	▼	-0.38%		
	Shanghai_Comp	2205.77	▼	-0.85	▼	-0.04%		
	Taiwan_Weight	8099.45	▼	-105.01	▼	-1.28%		
	Nikkei_225____	15365.6	▲	289.52	▲	1.92%		
	Hang_Seng____	23580.29	▼	-120.57	▼	-0.51%		
	Strait_Times___	3172.38	▼	-11.85	▼	-0.37%		
	NZX_50_Index__	4818.37	▼	-22	▼	-0.45%		

http://finance.yahoo.com/news/p-500-index-close-perfect-215642086.html

*S&P 500 index is close to 'Perfect 10'

S&P 500 index is poised to end year with a 'Perfect 10' for the first time since 1995*

By Steve Rothwell, AP Markets Writer 

The stock market is poised for a "Perfect 10."

As stocks surge this year, putting them on course for their best annual performance in a decade, all ten industry groups in the Standard & Poor's 500 index are closing in on gains of 10 percent or more for 2013.

That hasn't happened in almost two decades.

The last year that all 10 industry groups in the S&P 500 closed the year higher by 10 percent or more was in 1995, when the overall index rose 31 percent. There have been several years of big yearly gains since, but none that have seen all the sectors notch double-digit jumps.

The S&P 500 gained 26 percent in 1998, but materials and energy stocks fell. The broader index advanced 26 percent in 2003 but phone companies and makers of consumer staples fell short of the 10 percent hurdle.

The reason for the broad gains this year? It's the first time since the Great Recession that investors are starting to believe that the economic recovery, while tepid, is sustainable, says Natalie Trunow, chief investment officer at Calvert Investments, an investment manager.

The housing market is recovering, hiring has picked up and people are less scared of losing their jobs. That has helped boost consumer confidence and support spending.

"Only 12 months ago, the markets were not convinced that we were in recovery mode," says Trunow, who notes there were fears the economy could slide back into recession as recently as last summer.

Here are the 10 industry groups in the S&P 500 index, which is up 26 percent so far in 2013. Here's how each sector has performed:

HEALTH CARE: Some stocks in this sector offer the prospect of explosive growth because of new drugs, or medical devices. Other, more established names like Pfizer tempt investors with attractive dividend yields. Health insurers have also done well as the Affordable Health Care Act rolls out.

This year's gain: 36 percent.

CONSUMER DISCRETIONARY: Retailers and other consumer services have surged this year, boosted by two of the stock market's star performers. Netflix has notched the biggest gain of 275 percent, driven by earnings and subscriber growth. Best Buy has jumped 230 percent as it stabilizes earnings.

This year's gain: 36 percent.

INDUSTRIALS: Delta airlines and Southwest Airlines are among the biggest gainer in this sector. Airlines tend to do well when the economy is improving as people travel more for business and leisure. Investors are also optimistic that industrial companies will benefit from an improving economy.

This year's gain: 31 percent.

FINANCIALS: Banks, insurers and other financial stocks have gained on optimism that the industry is healing after the financial crisis and the Great Recession. A recovering housing market is also helping. Genworth Financial, an insurance company, is the biggest gainer among financial stocks, surging 102 percent as its U.S. residential mortgages business recovers.

This year's gain: 30 percent.

CONSUMER STAPLES: Makers of essential, everyday products might not offer the most exciting growth prospects, but they pay a healthy dividend. Companies like Procter & Gamble are particularly attractive to investors as the yields on Treasury notes remain close to record lows.

This year's gain: 22 percent.

ENERGY: U.S. oil prices rose and U.S.-based drillers increased production dramatically, helping push domestic production to the highest level in more than two decades. This boosted the revenue and profits for some companies in the industry. Natural gas producers got a lift as prices rose from the 20-year lows they hit in 2012.

This year's gain: 20 percent.

INFORMATION TECHNOLOGY: Big things were expected from the technology industry at the start of the year. Corporations were supposed to invest in technology to boost productivity. It hasn't happened to the degree investors hoped. The sector has lagged the market. The biggest gainer in the index is chipmaker Micron, which surged 212 percent as demand for its products rose.

This year's gain: 19 percent.

MATERIALS: Sealed Air, which makes Bubble Wrap and other types of packaging, leads gains for the sector. The company's stock has risen 83 percent after returning to profitability. Owens-Illinois, a maker of glass containers for beer, liquor and other beverages, has also posted strong gains as its earnings improve.

This year's gain: 18 percent.

UTILITIES: Power companies are seen as safe and steady. They might not offer good growth prospects, but everybody needs power, and these companies pay a healthy dividend, which is important for investors seeking income.

This year's gain: 10 percent.

TELECOMMUNICATIONS: Phone companies could keep the S&P 500 from its "Perfect 10" status. They are the laggards in the index and the only group falling short of 10 percent gains. These companies are viewed in a similar light to power companies. Demand is steady, but growth prospects are limited. The compensation for investors for holding these stocks is a big dividend payment.

This year's gain: 8 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market vaulted past another milestone on Friday.

The Standard & Poor's 500 index closed above 1,800 for the first time, capping seven straight weeks of gains.

The broader index is on track for its best performance in 15 years as a combination of solid corporate earnings, a strengthening economy and easy-money policies from the Federal Reserve draw investors to stocks. Stocks have also gained because they offer an attractive alternative to bonds, where interest rates remain close to all-time lows.

"You can't really get better returns other than in the stock market," said Peter Cardillo, chief market economist at Rockwell Global Capital. "It's been a quality run-up in stocks."

The S&P 500 index rose 8.91 points, or 0.5 percent, to 1,804.76. The index has advanced 26.5 percent in 2013. If it finishes at that level, it would be its strongest year since a 26.7 percent gain in 1998.

The Dow Jones industrial average also continued its upward march after finishing above 16,000 for the first time Thursday. The index gained 54.78 points, or 0.3 percent, to 16,064.77.

The Nasdaq composite rose 22.49 points, or 0.6 percent, to 3,991.65.

On Friday, health care stocks led the market's rise. Biotechnology company Biogen Idec surged on reports that it won market exclusivity for its top-selling multiple sclerosis drug in Europe. The company's stock jumped $33.19, or 13 percent, to $285.62.

Health care stocks have also led gains in the S&P 500 this year, rising 38 percent. The industry is attractive to investors. Some of its companies, like Biogen Idec, offer the possibility of explosive growth. Others are established players like Pfizer, which pays big dividends. Health insurance companies have also done well this year as the Affordable Care Act rolls out.

Despite their big gains, stocks could continue to rise. The economy is forecast to keep recovering and that helps companies increase their earnings. And while stock valuations have risen, they are still attractive compared with bonds.

However, investors will likely have to look harder to find winning stocks next year, said Paul Hogan, co-manager of the FAM Equity-Income Fund.

"We've had the rising tide, but going forward, it's the stock pickers that will tend to do better." 								

 *The NYSE DOW closed  	HIGHER ▲	54.78	points or ▲	0.34%	on	Friday, 22 November 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16064.77	▲	54.78	▲	0.34%		
	Nasdaq___	3991.65	▲	22.49	▲	0.57%		
	S&P_500__	1804.76	▲	8.91	▲	0.50%		
	30_Yr_Bond	3.838	▼	-0.045	▼	-1.16%		

NYSE Volume	 3,045,104,500 	 	 	 	 	  		 
Nasdaq Volume	 1,687,384,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6674.3	▼	-7.03	▼	-0.11%		
	DAX_____	9219.04	▲	22.96	▲	0.25%		
	CAC_40__	4278.53	▲	24.63	▲	0.58%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5330.3	▲	46	▲	0.87%		
	Shanghai_Comp	2196.38	▼	-9.39	▼	-0.43%		
	Taiwan_Weight	8116.78	▲	17.33	▲	0.21%		
	Nikkei_225____	15381.72	▲	16.12	▲	0.10%		
	Hang_Seng____	23696.28	▲	115.99	▲	0.49%		
	Strait_Times___	3172.85	▲	0.47	▲	0.01%		
	NZX_50_Index__	4818	▼	-0.36	▼	-0.01%		

http://finance.yahoo.com/news/p-500-closes-above-1-221949665.html


*S&P 500 closes above 1,800 for first time

S&P 500 closes above 1,800 for the first time; health care stocks lead gains as BioGen jumps*

By Steve Rothwell, AP Markets Writers

The stock market vaulted past another milestone on Friday.

The Standard & Poor's 500 index closed above 1,800 for the first time, capping seven straight weeks of gains.

The broader index is on track for its best performance in 15 years as a combination of solid corporate earnings, a strengthening economy and easy-money policies from the Federal Reserve draw investors to stocks. Stocks have also gained because they offer an attractive alternative to bonds, where interest rates remain close to all-time lows.

"You can't really get better returns other than in the stock market," said Peter Cardillo, chief market economist at Rockwell Global Capital. "It's been a quality run-up in stocks."

The S&P 500 index rose 8.91 points, or 0.5 percent, to 1,804.76. The index has advanced 26.5 percent in 2013. If it finishes at that level, it would be its strongest year since a 26.7 percent gain in 1998.

The Dow Jones industrial average also continued its upward march after finishing above 16,000 for the first time Thursday. The index gained 54.78 points, or 0.3 percent, to 16,064.77.

The Nasdaq composite rose 22.49 points, or 0.6 percent, to 3,991.65.

On Friday, health care stocks led the market's rise. Biotechnology company Biogen Idec surged on reports that it won market exclusivity for its top-selling multiple sclerosis drug in Europe. The company's stock jumped $33.19, or 13 percent, to $285.62.

Health care stocks have also led gains in the S&P 500 this year, rising 38 percent. The industry is attractive to investors. Some of its companies, like Biogen Idec, offer the possibility of explosive growth. Others are established players like Pfizer, which pays big dividends. Health insurance companies have also done well this year as the Affordable Care Act rolls out.

Despite their big gains, stocks could continue to rise. The economy is forecast to keep recovering and that helps companies increase their earnings. And while stock valuations have risen, they are still attractive compared with bonds.

However, investors will likely have to look harder to find winning stocks next year, said Paul Hogan, co-manager of the FAM Equity-Income Fund.

"We've had the rising tide, but going forward, it's the stock pickers that will tend to do better."

Among single stocks that have done well this year, there are two standouts, Netflix and Best Buy.

Netflix has surged 276 percent as the video steaming service and DVD rental company continues to add subscribers. Best Buy has surged 232 percent as the company's turnaround strategy appears to be working after a tough 2012.

Still, there are also grounds for caution.

Given the strong gains this year, stocks are no longer a bargain.

"I'm not pounding the table anymore saying this is the cheapest U.S. equity market in decades," said Andres Garcia-Amaya, a global market strategist at J.P. Morgan Funds.

While investors shouldn't necessarily sell, they should temper their expectations for the level of returns, he said.

The price-earnings ratio of S&P 500 companies, a measure of how much investors are willing to pay for a stock in relation to its earnings, has climbed to 14.9 from 12.6 at the start of the year.

Also, the rally in stocks is getting long in the tooth. The S&P 500 has surged more than 160 percent, since the bull market for stocks began 56 months ago ”” in March, 2009. Since the Great Depression, the average bull market for stocks has lasted 57 months.

Investors will also have to deal with the end of the Fed's stimulus program, possibly this year.

The central bank is currently buying $85 billion of bonds a month to hold down long-term interest rates, help support the stock rally. The stock market's only two months of decline this year, in June and August, came when investors fretted that the central bank was poised to start reducing, or tapering, its stimulus. Investors sold Treasury notes, long-term interest rates rose and stocks fell.

"The clear headwind that is on everyone's radar screen is the pace and the timing of the Fed's taper," said Jim Russell, regional investment director at US Bank. "That will prove to be a little bit of an adjustment."

In government bond trading, the yield on the 10-year Treasury note fell to 2.75 percent from 2.79 percent on Thursday. The yield climbed as high as 3 percent Sept. 5, on concern that Fed policy makers were poised to cut their stimulus.

6276


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market paused Monday, ending on a mixed note, after a string of records in recent weeks.

Investors had little company-specific news to digest, although the U.S. and other world powers reached a deal to limit Iran's nuclear program, an event that pushed down oil prices and energy stocks.

The slow day represented a pause in the market's strong run-up, capped by another milestone on Friday, when the Standard & Poor's 500 index closed above 1,800 for the first time.

Stocks have soared this year as a combination of solid corporate earnings, a strengthening economy and easy-money policies from the Federal Reserve have drawn investors to stocks. Stocks have also gained because they offer an attractive alternative to bonds, where interest rates remain close to all-time lows.

Despite light trade, Monday did feature another market milestone. The Nasdaq rose as high as 4,007.09, a level it hasn't seen since Sept. 7, 2000, during the dot-com bubble. The index ended up 2.92 points, or 0.1 percent, at 3,994.57.

The Dow Jones industrial average rose eight points, or 0.1 percent, to 16,072.54. Meanwhile, the Standard & Poor's 500 index fell 2 points, or 0.1 percent, to 1,802.48.

The biggest drags on the S&P 500 were energy stocks. Sunday's deal with Iran was the first significant progress in years to curtail that country's nuclear ambitions. It could reduce the risk of conflict, improve trade and boost global oil supplies by making it easier for Iran to sell its crude onto the global market. That could increase global supply and push oil prices lower in the long-term.

Oil fell 75 cents, or 0.8 percent, to $94.09. Energy companies Halliburton, Transocean and Schlumberger all fell 2 percent or more.

Even with Monday's decline, S&P 500 has risen seven straight weeks and is up 26 percent in 2013, its best performance in 15 years.

However, an increasing number of investors believe that stocks have run their course for 2013 and stocks are due for a pullback soon. 								

 *The NYSE DOW closed  	HIGHER ▲	7.77	points or ▲	0.05%	on	Monday, 25 November 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16072.54	▲	7.77	▲	0.05%		
	Nasdaq___	3994.57	▲	2.92	▲	0.07%		
	S&P_500__	1802.48	▼	-2.28	▼	-0.13%		
	30_Yr_Bond	3.836	▼	-0.002	▼	-0.05%		

NYSE Volume	 2,999,365,750 	 	 	 	 	  		 
Nasdaq Volume	 1,793,537,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6694.62	▲	20.32	▲	0.30%		
	DAX_____	9299.95	▲	80.91	▲	0.88%		
	CAC_40__	4301.97	▲	23.44	▲	0.55%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5346.1	▲	15.8	▲	0.30%		
	Shanghai_Comp	2186.12	▼	-10.26	▼	-0.47%		
	Taiwan_Weight	8187.51	▲	70.73	▲	0.87%		
	Nikkei_225____	15619.13	▲	237.41	▲	1.54%		
	Hang_Seng____	23684.45	▼	-11.83	▼	-0.05%		
	Strait_Times___	3180.65	▲	7.8	▲	0.25%		
	NZX_50_Index__	4813.88	▼	-4.12	▼	-0.09%		

http://finance.yahoo.com/news/stocks-end-mixed-quiet-day-222501247.html


*Stocks end mixed on quiet day; energy stocks fall

Stocks mixed after Iranian nuclear deal, but energy-stocks fall as oil prices head lower*

By Ken Sweet, AP Markets Writer

The stock market paused Monday, ending on a mixed note, after a string of records in recent weeks.

Investors had little company-specific news to digest, although the U.S. and other world powers reached a deal to limit Iran's nuclear program, an event that pushed down oil prices and energy stocks.

The slow day represented a pause in the market's strong run-up, capped by another milestone on Friday, when the Standard & Poor's 500 index closed above 1,800 for the first time.

Stocks have soared this year as a combination of solid corporate earnings, a strengthening economy and easy-money policies from the Federal Reserve have drawn investors to stocks. Stocks have also gained because they offer an attractive alternative to bonds, where interest rates remain close to all-time lows.

Despite light trade, Monday did feature another market milestone. The Nasdaq rose as high as 4,007.09, a level it hasn't seen since Sept. 7, 2000, during the dot-com bubble. The index ended up 2.92 points, or 0.1 percent, at 3,994.57.

The Dow Jones industrial average rose eight points, or 0.1 percent, to 16,072.54. Meanwhile, the Standard & Poor's 500 index fell 2 points, or 0.1 percent, to 1,802.48.

The biggest drags on the S&P 500 were energy stocks. Sunday's deal with Iran was the first significant progress in years to curtail that country's nuclear ambitions. It could reduce the risk of conflict, improve trade and boost global oil supplies by making it easier for Iran to sell its crude onto the global market. That could increase global supply and push oil prices lower in the long-term.

Oil fell 75 cents, or 0.8 percent, to $94.09. Energy companies Halliburton, Transocean and Schlumberger all fell 2 percent or more.

Even with Monday's decline, S&P 500 has risen seven straight weeks and is up 26 percent in 2013, its best performance in 15 years.

However, an increasing number of investors believe that stocks have run their course for 2013 and stocks are due for a pullback soon.

"I would like to see this market take a breather," said Jim Lauder, a fund manager for Wells Fargo Advantage Dow Jones Target Date Funds.

While the Nasdaq is flirting with territory it hasn't seen in 13 years, the index is still down roughly 25 percent from its all-time high of 5,048.62 that it set on March 10, 2000. The index, although still technology heavy, is dominated by highly-profitable companies like Apple, Google and Amazon.

Trading was light Monday and is expected to remain limited all week. Stock and bond markets are closed Thursday in observance of the Thanksgiving holiday. On Friday, the New York Stock Exchange and Nasdaq will close early. Approximately 2.98 billion shares traded hands Monday on the New York Stock Exchange, below the 3.35 billion that is typically traded on an average day.

Investors will focus on Black Friday, when the holiday shopping season officially starts. Due to the lateness of Thanksgiving, the Christmas shopping season is a week shorter than usual, and that could affect the amount of shopping people can do. An increasing number of retailers are opening up on Thanksgiving to draw in customers.

In other news, shares of Wal-Mart rose 62 cents, or 0.8 percent, to $80.43 after the company announced its CEO was stepping down. Alcoa climbed 35 cents, or 4 percent, to $9.59 after Goldman Sachs upgraded the company to "buy" from "neutral," citing potential growth in its aluminum products business.


----------



## bigdog

Source: http://finance.yahoo.com 

Upbeat news from the housing industry and luxury retailer Tiffany & Co. nudged the stock market higher Tuesday.

Investors also got another market milestone when the Nasdaq composite closed above the 4,000-point mark for the first time in 13 years.

The event follows two other round-number moments last week. The Standard & Poor's 500 index closed above 1,800 for the first time, and the Dow Jones industrial average finished above 16,000.

On Tuesday, homebuilder shares were among the top gainers in the broader stock market. They rose after the Commerce Department reported that approvals for housing permits rose in October at the fastest pace in five years. Those applications indicate that builders expect heightened demand.

Most of the growth in the report came from apartment permits, not homes, but investors felt the data was positive.

"It's going to translate into job creation once those permits turn into actual construction," said Quincy Krosby, market strategist with Prudential Financial.

Shares of PulteGroup, Toll Brothers and Lennar Corp. all rose 3 percent or more.

The Nasdaq closed up 23.18 points, or 0.6 percent, to 4,017.75. The last time the Nasdaq closed above the 4,000-point level was Sept. 6, 2000.

The other two major stock indexes inched higher. The Dow rose less than a point to 16,072.80. The S&P 500 index also rose less than a point, to 1,802.75.

Tiffany & Co. rose the most in the S&P 500 index. The jewelry chain jumped $7.03, or 9 percent, to $88.02, after it reported strong third-quarter earnings. The company also raised its full-year forecast.

Stock and bond markets are closed Thursday in observance of Thanksgiving. On Friday, the New York Stock Exchange and Nasdaq will close early.

Investors continue to pay close attention to any details from retailers, with the approach of Black Friday, the busy shopping day that follows Thanksgiving. 								

 *The NYSE DOW closed  	HIGHER ▲	0.26	points or ▲	0.00%	on	Tuesday, 26 November 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16072.8	▲	0.26	▲	0.00%		
	Nasdaq___	4017.75	▲	23.18	▲	0.58%		
	S&P_500__	1802.75	▲	0.27	▲	0.01%		
	30_Yr_Bond	3.785	▼	-0.051	▼	-1.33%		

NYSE Volume	 3,312,808,750 	 	 	 	 	  		 
Nasdaq Volume	 1,895,873,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6636.22	▼	-58.4	▼	-0.87%		
	DAX_____	9290.07	▼	-9.88	▼	-0.11%		
	CAC_40__	4277.57	▼	-24.4	▼	-0.57%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5350.6	▲	4.5	▲	0.08%		
	Shanghai_Comp	2183.07	▼	-3.04	▼	-0.14%		
	Taiwan_Weight	8248.02	▲	60.51	▲	0.74%		
	Nikkei_225____	15515.24	▼	-103.89	▼	-0.67%		
	Hang_Seng____	23681.28	▼	-3.17	▼	-0.01%		
	Strait_Times___	3173.51	▼	-7.14	▼	-0.22%		
	NZX_50_Index__	4790.75	▼	-23.13	▼	-0.48%		

http://finance.yahoo.com/news/dow-p-500-nudge-higher-214437033.html


*Dow, S&P 500 nudge higher; Nasdaq ends above 4,000

US stocks notch slight gains, helped by homebuilder shares; Nasdaq closes above 4,000*

By Ken Sweet, AP Markets Writer 

Upbeat news from the housing industry and luxury retailer Tiffany & Co. nudged the stock market higher Tuesday.

Investors also got another market milestone when the Nasdaq composite closed above the 4,000-point mark for the first time in 13 years.

The event follows two other round-number moments last week. The Standard & Poor's 500 index closed above 1,800 for the first time, and the Dow Jones industrial average finished above 16,000.

On Tuesday, homebuilder shares were among the top gainers in the broader stock market. They rose after the Commerce Department reported that approvals for housing permits rose in October at the fastest pace in five years. Those applications indicate that builders expect heightened demand.

Most of the growth in the report came from apartment permits, not homes, but investors felt the data was positive.

"It's going to translate into job creation once those permits turn into actual construction," said Quincy Krosby, market strategist with Prudential Financial.

Shares of PulteGroup, Toll Brothers and Lennar Corp. all rose 3 percent or more.

The Nasdaq closed up 23.18 points, or 0.6 percent, to 4,017.75. The last time the Nasdaq closed above the 4,000-point level was Sept. 6, 2000.

The other two major stock indexes inched higher. The Dow rose less than a point to 16,072.80. The S&P 500 index also rose less than a point, to 1,802.75.

Tiffany & Co. rose the most in the S&P 500 index. The jewelry chain jumped $7.03, or 9 percent, to $88.02, after it reported strong third-quarter earnings. The company also raised its full-year forecast.

Stock and bond markets are closed Thursday in observance of Thanksgiving. On Friday, the New York Stock Exchange and Nasdaq will close early.

Investors continue to pay close attention to any details from retailers, with the approach of Black Friday, the busy shopping day that follows Thanksgiving.

Due to the lateness of Thanksgiving, the holiday shopping season is a week shorter than usual and that could affect the amount of shopping people do. An increasing number of retailers are opening up on Thanksgiving to draw in customers.

Holiday shopping can account for as much as 40 percent of the retail industry's annual sales. The National Retail Federation, the nation's largest retail trade group, expects an increase of 3.9 percent to $602.1 billion in holiday sales this year

Already, many retailers have trimmed profit forecasts for the year, citing Americans' hesitation to spend a lot of money. Barnes & Noble shares fell 98 cents, or 6 percent, to $15.45 after the bookseller's fiscal second-quarter sales fell short of Wall Street expectations.

In other company news, men's clothing store Jos. A. Bank rose $5.69, or 11 percent, to $56.29 after rival Men's Wearhouse offered to buy the company for $1.5 billion. Men's Wearhouse rose $3.53, or 8 percent, to $50.60.


----------



## bigdog

Source: http://finance.yahoo.com 

Technology companies lifted the stock market Wednesday, keeping major indexes at record levels.

Hewlett-Packard surged, leading the gains for tech companies, after it posted a $1.4 billion profit for its latest quarter. The world's second-largest maker of PCs also issued a strong profit forecast for its current quarter.

Stocks also got a boost from some encouraging news about the U.S. economy.

In a sign that workers are in less danger of being laid off, the number of Americans seeking unemployment benefits dropped 10,000 last week to a seasonally adjusted 316,000, according to the U.S. Labor Department. In another bit of good news, consumer confidence rose in November, according to a private survey by the University of Michigan and financial data company Thomson Reuters.

"Today's economic news was generally favorable," said Terry Sandven, chief equity strategist for U.S. Bank Wealth Management. "In the absence of bad news, the path of least resistance for equities is up."

The stock market has surged this year on a combination of solid corporate earnings, a slowly recovering economy and easy-money policies from the Federal Reserve. The Fed is buying $85 billion in bonds every month to keep long-term interest rates low, making stocks more attractive than bonds for investors.

On Wednesday, the Standard & Poor's 500 index climbed four points, or 0.3 percent, to close at an all-time high of 1,807.23.

The Dow Jones industrial average rose 24 points, or 0.2 percent, to close at its own record high of 16,097.33. The blue-chip index finished higher for a fifth straight day, its longest winning streak since March.

The Nasdaq composite advanced 27 points, or 0.7 percent, to 4,044.75. The index closed above 4,000 for the first time in 13 years Tuesday.

The S&P 500 has risen 26.7 percent this year, putting it on course for its best annual performance since 1998. Much of the gain has come because investors have been willing to pay more for a company's stock in relation to its earnings.

The price-earnings ratio for S&P 500 companies has climbed to 15.1 from 12.6 at the start of the year. But it is still below the average ratio of 16.5 for the last 20 years.

"When times are good, you have to ask if it's a sign that things are about to become bad," said Art Steinmetz, President & Chief Investment Officer at Oppenheimer Funds. But Steinmetz feels reasonably hopeful that stock valuations "are not overstretched." 								

 *The NYSE DOW closed  	HIGHER ▲	24.53	points or ▲	0.15%	on	Wednesday, 27 November 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16097.33	▲	24.53	▲	0.15%		
	Nasdaq___	4044.75	▲	27	▲	0.67%		
	S&P_500__	1807.23	▲	4.48	▲	0.25%		
	30_Yr_Bond	3.812	▲	0.027	▲	0.71%		

NYSE Volume	 2,607,335,000 	 	 	 	 	  		 
Nasdaq Volume	 1,476,213,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6649.47	▲	13.25	▲	0.20%		
	DAX_____	9351.13	▲	61.06	▲	0.66%		
	CAC_40__	4293.06	▲	15.49	▲	0.36%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5324.9	▼	-25.7	▼	-0.48%		
	Shanghai_Comp	2201.07	▲	18	▲	0.82%		
	Taiwan_Weight	8295.88	▲	47.86	▲	0.58%		
	Nikkei_225____	15449.63	▼	-65.61	▼	-0.42%		
	Hang_Seng____	23806.35	▲	125.07	▲	0.53%		
	Strait_Times___	3172.06	▼	-1.45	▼	-0.05%		
	NZX_50_Index__	4799.35	▲	8.6	▲	0.18%		

http://finance.yahoo.com/news/stocks-climb-hp-advances-earnings-220304442.html

*Stocks climb after HP advances on earnings

Technology leads stock market gains after Hewlett-Packard earnings; jobless claims fall*

By Steve Rothwell, AP Markets Writer

echnology companies lifted the stock market Wednesday, keeping major indexes at record levels.

Hewlett-Packard surged, leading the gains for tech companies, after it posted a $1.4 billion profit for its latest quarter. The world's second-largest maker of PCs also issued a strong profit forecast for its current quarter.

Stocks also got a boost from some encouraging news about the U.S. economy.

In a sign that workers are in less danger of being laid off, the number of Americans seeking unemployment benefits dropped 10,000 last week to a seasonally adjusted 316,000, according to the U.S. Labor Department. In another bit of good news, consumer confidence rose in November, according to a private survey by the University of Michigan and financial data company Thomson Reuters.

"Today's economic news was generally favorable," said Terry Sandven, chief equity strategist for U.S. Bank Wealth Management. "In the absence of bad news, the path of least resistance for equities is up."

The stock market has surged this year on a combination of solid corporate earnings, a slowly recovering economy and easy-money policies from the Federal Reserve. The Fed is buying $85 billion in bonds every month to keep long-term interest rates low, making stocks more attractive than bonds for investors.

On Wednesday, the Standard & Poor's 500 index climbed four points, or 0.3 percent, to close at an all-time high of 1,807.23.

The Dow Jones industrial average rose 24 points, or 0.2 percent, to close at its own record high of 16,097.33. The blue-chip index finished higher for a fifth straight day, its longest winning streak since March.

The Nasdaq composite advanced 27 points, or 0.7 percent, to 4,044.75. The index closed above 4,000 for the first time in 13 years Tuesday.

The S&P 500 has risen 26.7 percent this year, putting it on course for its best annual performance since 1998. Much of the gain has come because investors have been willing to pay more for a company's stock in relation to its earnings.

The price-earnings ratio for S&P 500 companies has climbed to 15.1 from 12.6 at the start of the year. But it is still below the average ratio of 16.5 for the last 20 years.

"When times are good, you have to ask if it's a sign that things are about to become bad," said Art Steinmetz, President & Chief Investment Officer at Oppenheimer Funds. But Steinmetz feels reasonably hopeful that stock valuations "are not overstretched."

In other corporate news, Analog Devices fell $1.38, or 3 percent, to $48.54 after the chipmaker reported sales late Tuesday that missed Wall Street estimates. The Norwood, Mass., company expects a seasonal slowdown to hurt revenue during the holidays.

Trading volumes were lower than average ahead of Thursday's Thanksgiving holiday, when financial markets will be closed. The New York Stock exchange and the Nasdaq will also close early on Friday.

The yield on the 10-year Treasury note rose to 2.74 percent, up from 2.71 percent on Tuesday.

The price of oil dropped to its lowest level in six months as the U.S. government reported the 10th straight weekly increase in crude supplies. Oil dropped $1.38, or 2 percent, to $92.30 a barrel.

Exxon Mobil and Chevron, both members of the 30-company Dow, declined. Exxon Mobil fell 47 cents, or 0.5 percent, to $93.80. Chevron fell 36 cents, or 0.4 percent, to $122.42.

In other commodities trading, Gold fell $3.60, or 0.3 percent, to $1,237.80 an ounce.


----------



## bigdog

Source: http://finance.yahoo.com 

*NYSE CLOSED FOR THANKSGIVING HOLIDAY THURSDAY NOVEMBER 28 2013 * 

Japan's stock index was the standout performer Thursday, surging to its highest level in almost six years as the yen fell amid speculation that the country's monetary policy will be eased further.

On a day when trading levels are low because of the Thanksgiving holiday in the U.S., the Nikkei 225 helped shore up markets around the world, as it advanced 1.8 percent to 15,727.12, its highest close since late 2007.

The benchmark's surge has been driven by the Japanese currency's slump to its lowest in half a year. The dollar strengthened to a high of 102.38 yen as traders bet on more monetary easing from the central bank as it tries to revive the world's third biggest economy.

Japan's powerhouse exporters are potentially the biggest beneficiaries of the yen's weakness, as buyers may find it cheaper to purchase cars and electronics made by export manufacturers such as Toyota and Sony.

"The Nikkei remains the world beater this year, up more than 51 percent in 2013," said Robert Kavcic, an analyst at BMO Capital Markets.

In Europe, Germany's DAX closed up 0.43 percent at 9,387.37, while the CAC-40 in France rose 0.2 percent to 4,302.42. The FTSE 100 index of leading British shares ended 0.1 percent higher at 6,654.47.

A survey from the European Commission, showing economic sentiment in the 17-country eurozone at a 27-month high in November had little impact in either stock markets or in the currency markets, where the euro was trading 0.1 percent higher at $1.3600.

Potentially more interesting will be Friday's official inflation figures. Another fall from October's 0.7 percent rate could stoke speculation of further monetary easing from the European Central Bank, weighing on the euro.

Earlier in Asia, South Korea's Kospi rose 0.8 percent to 2,045.77 and China's Shanghai Composite added 0.8 percent to 2,219.37. Australia's S&P/ASX 200 edged up less than 0.1 percent to 5,334.30. 

 *The NYSE DOW closed  	HIGHER ▲	24.53	points or ▲	0.15%	on	Wednesday, 27 November 2013	- NYSE CLOSED FOR THANKSGIVING HOLIDAY THURSDAY NOVEMBER 28**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16097.33	▲	24.53	▲	0.15%		
	Nasdaq___	4044.75	▲	27	▲	0.67%		
	S&P_500__	1807.23	▲	4.48	▲	0.25%		
	30_Yr_Bond	3.812	▲	0.027	▲	0.71%		

NYSE Volume	 2,607,335,000 	 	 	 	 	  		 
Nasdaq Volume	 1,476,213,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6654.47	▲	5	▲	0.08%		
	DAX_____	9387.37	▲	36.24	▲	0.39%		
	CAC_40__	4302.42	▲	9.36	▲	0.22%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5326.6	▲	1.7	▲	0.03%		
	Shanghai_Comp	2219.37	▲	18.3	▲	0.83%		
	Taiwan_Weight	8362.43	▲	66.55	▲	0.80%		
	Nikkei_225____	15727.12	▲	277.49	▲	1.80%		
	Hang_Seng____	23789.09	▼	-17.26	▼	-0.07%		
	Strait_Times___	3186.37	▲	14.31	▲	0.45%		
	NZX_50_Index__	4809.46	▲	10.1	▲	0.21%		

http://finance.yahoo.com/news/japans-nikkei-standout-us-holiday-174729711.html


*Japan's Nikkei standout in US holiday-hit markets

Japanese stocks near six-year high on yen weakness; trading elsewhere subdued by Thanksgiving*

By Pan Pylas and Kelvin Chan

LONDON (AP) -- Japan's stock index was the standout performer Thursday, surging to its highest level in almost six years as the yen fell amid speculation that the country's monetary policy will be eased further.

On a day when trading levels are low because of the Thanksgiving holiday in the U.S., the Nikkei 225 helped shore up markets around the world, as it advanced 1.8 percent to 15,727.12, its highest close since late 2007.

The benchmark's surge has been driven by the Japanese currency's slump to its lowest in half a year. The dollar strengthened to a high of 102.38 yen as traders bet on more monetary easing from the central bank as it tries to revive the world's third biggest economy.

Japan's powerhouse exporters are potentially the biggest beneficiaries of the yen's weakness, as buyers may find it cheaper to purchase cars and electronics made by export manufacturers such as Toyota and Sony.

"The Nikkei remains the world beater this year, up more than 51 percent in 2013," said Robert Kavcic, an analyst at BMO Capital Markets.

In Europe, Germany's DAX closed up 0.43 percent at 9,387.37, while the CAC-40 in France rose 0.2 percent to 4,302.42. The FTSE 100 index of leading British shares ended 0.1 percent higher at 6,654.47.

A survey from the European Commission, showing economic sentiment in the 17-country eurozone at a 27-month high in November had little impact in either stock markets or in the currency markets, where the euro was trading 0.1 percent higher at $1.3600.

Potentially more interesting will be Friday's official inflation figures. Another fall from October's 0.7 percent rate could stoke speculation of further monetary easing from the European Central Bank, weighing on the euro.

Earlier in Asia, South Korea's Kospi rose 0.8 percent to 2,045.77 and China's Shanghai Composite added 0.8 percent to 2,219.37. Australia's S&P/ASX 200 edged up less than 0.1 percent to 5,334.30.

The Philippines PSE Composite index soared nearly 2 percent after the government reported that the economy grew 7 percent in the third quarter. However, Hong Kong's Hang Seng slid in the final hour of trading to close 0.1 percent lower at 23,789.09.

Elsewhere, the benchmark New York contract for crude oil was down 15 cents at $92.15 a barrel. Oil prices have drifted lower in recent weeks as geopolitical concerns regarding Syria have subsided and following an international- agreement this week over Iran's nuclear plans.


----------



## bigdog

Source: http://finance.yahoo.com 

*The stock market fizzled Friday at the end of a holiday-shortened trading day,* but still logged its longest streak of weekly gains in a decade.

The Standard & Poor's 500 index ended down one point, or 0.1 percent, to 1,805.81. The Dow Jones industrial average slipped 10 points, or 0.1 percent, to 16,086.41.

Investors watched for early trends in holiday sales as the busiest shopping day of the year, Black Friday, got underway. Retailers were one of two industry groups in the S&P 500 to rise.

Stocks overall have surged this year as the economy maintains a slow but steady recovery and corporations keep earnings growing. Demand for stocks also has been bolstered by Federal Reserve policies that have held down interest rates, making bonds less attractive investments than stocks.

Stocks rose for most of the day Friday, but petered out in the last half hour of trading. The New York Stock Exchange and the Nasdaq closed early, at 1 p.m. Eastern Time, and activity was lower than average a day after Thanksgiving. Thin trading can lead to sudden swings in markets.

Although the S&P 500 and Dow slipped, the Nasdaq composite rose 15 points, or 0.4 percent, to end at 4,059.89. The index has surged 34 percent this year, more than the other two indexes.

And even though the S&P 500 eased Friday, it still rose for an eighth straight week, its longest stretch of weekly advances in a decade.

The S&P 500 index has surged 26.6 percent this year, propelling it to a string of record highs. If its gain holds, it would be the strongest year for the index since 1998, when it rose 26.7 percent.

November is typically a strong month for the stock market, and this year was no exception. The S&P 500 ended the month with a gain of 2.8 percent, the ninth month this year that the index has advanced.

Returns for the month rank as the third best for the Dow and the S&P 500, according to the Stock Trader's Almanac, which has analyzed data going back to 1950.


The broad stock index saw two of its 10 industry groups rise. One of them was consumer discretionary companies as investors hoped for improved holiday sales.

More than a dozen major chains opened on Thanksgiving Day and planned to keep their doors open through Friday, the traditional start to the holiday shopping season. Crowds formed early and often throughout the two days. 								

 *The NYSE DOW closed  	LOWER ▼	-10.92	points or ▼	-0.07%	on	Friday, 29 November 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16086.41	▼	-10.92	▼	-0.07%		
	Nasdaq___	4059.89	▲	15.14	▲	0.37%		
	S&P_500__	1805.81	▼	-1.42	▼	-0.08%		
	30_Yr_Bond	3.808	▼	-0.004	▼	-0.10%		

NYSE Volume	 1,593,930,880 	 	 	 	 	  		 
Nasdaq Volume	 852,200,310 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6650.57	▼	-3.9	▼	-0.06%		
	DAX_____	9405.3	▲	17.93	▲	0.19%		
	CAC_40__	4295.21	▼	-7.21	▼	-0.17%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5314.3	▼	-12.3	▼	-0.23%		
	Shanghai_Comp	2220.5	▲	1.13	▲	0.05%		
	Taiwan_Weight	8406.83	▲	44.4	▲	0.53%		
	Nikkei_225____	15661.87	▼	-65.25	▼	-0.41%		
	Hang_Seng____	23881.29	▲	92.2	▲	0.39%		
	Strait_Times___	3176.35	▼	-10.02	▼	-0.31%		
	NZX_50_Index__	4794.95	▼	-14.5	▼	-0.30%		

http://finance.yahoo.com/news/p-500-gains-8th-straight-185751655.html

*S&P 500 gains for 8th straight week

S&P 500 gains for 8th straight week, its best stretch in a decade, as holiday shopping begins*

By Steve Rothwell, AP Markets Writer

The stock market fizzled Friday at the end of a holiday-shortened trading day, but still logged its longest streak of weekly gains in a decade.

The Standard & Poor's 500 index ended down one point, or 0.1 percent, to 1,805.81. The Dow Jones industrial average slipped 10 points, or 0.1 percent, to 16,086.41.

Investors watched for early trends in holiday sales as the busiest shopping day of the year, Black Friday, got underway. Retailers were one of two industry groups in the S&P 500 to rise.

Stocks overall have surged this year as the economy maintains a slow but steady recovery and corporations keep earnings growing. Demand for stocks also has been bolstered by Federal Reserve policies that have held down interest rates, making bonds less attractive investments than stocks.

Stocks rose for most of the day Friday, but petered out in the last half hour of trading. The New York Stock Exchange and the Nasdaq closed early, at 1 p.m. Eastern Time, and activity was lower than average a day after Thanksgiving. Thin trading can lead to sudden swings in markets.

Although the S&P 500 and Dow slipped, the Nasdaq composite rose 15 points, or 0.4 percent, to end at 4,059.89. The index has surged 34 percent this year, more than the other two indexes.

And even though the S&P 500 eased Friday, it still rose for an eighth straight week, its longest stretch of weekly advances in a decade.

The broad stock index saw two of its 10 industry groups rise. One of them was consumer discretionary companies as investors hoped for improved holiday sales.

More than a dozen major chains opened on Thanksgiving Day and planned to keep their doors open through Friday, the traditional start to the holiday shopping season. Crowds formed early and often throughout the two days.

Investors will be following sales trends closely to get a read on the health of retailers, as well as the wider economy. Consumer spending is a critical component of the U.S. economy.

Retail sales are expected to rise 4 percent to $602 billion during the last two months of the year, according to the National Retail Federation. That's higher than last year's 3.5 percent growth, but lower than the 6 percent pace from before the recession.

But sales could come at the expense of profits, analysts expect, as retailers are likely to use more discounting to draw in customers.

Shares of EBay, Amazon and Best Buy all advanced. EBay rose $1.22, or 3 percent, to $50.52, making it the second-biggest gainer in the S&P 500 index.

"The early signs of retail traffic are encouraging, but it's still very early," said Paul Mangus, head of equity research and strategy for Wells Fargo Private Bank.

The S&P 500 index has surged 26.6 percent this year, propelling it to a string of record highs. If its gain holds, it would be the strongest year for the index since 1998, when it rose 26.7 percent.

November is typically a strong month for the stock market, and this year was no exception. The S&P 500 ended the month with a gain of 2.8 percent, the ninth month this year that the index has advanced.

Returns for the month rank as the third best for the Dow and the S&P 500, according to the Stock Trader's Almanac, which has analyzed data going back to 1950.

An unexpectedly robust jobs report gave stocks a lift at the start of the month, and strong corporate earnings reports for the third quarter helped maintain the momentum.

Almost all of the companies in the S&P 500 have reported their third-quarter earnings. Profits are forecast to increase by 5.7 percent compared with the same period a year ago, according to data from S&P Capital IQ. Earnings growth is also better than then 4.9 percent achieved in the second-quarter.

"November is a time when investors evaluate earnings reports, and if share prices are the yardstick that you're looking at, then investors liked what they saw," said Lawrence Creatura, a portfolio manager at Federated Investors.

In government bond trading, the yield on the 10-year Treasury note rose to 2.75 percent from 2.73 percent on Wednesday.

6927


----------



## bigdog

Source: http://finance.yahoo.com 

The final month of a stellar year for stocks began with a thud.

All three major indexes closed lower Monday, the first day of trading in December. Investors sold shares on signs that American shoppers ”” that seemingly inexhaustible fuel of global economic growth ”” may hold tight to their cash this holiday season.

Shoppers turned out in record numbers over the four-day Thanksgiving weekend, but plunked down less cash than they did last year. It was the first decline in Thanksgiving weekend spending since a retail trade group began tracking it in 2006.

Investors reacted by selling all types of retailer stocks, from department stores to specialty chains. J.C. Penney, Macy's and Target fell about 2 percent each. Urban Outfitters dropped nearly 4 percent.

"This holiday season is not going to be a gangbuster," said Lindsey Piegza, chief economist of Sterne Agee. "Retailers are bracing for declining activity from now to the beginning of the year."

One big exception to the retailer doldrums was Ebay, which rose 1.5 percent thanks to strong sales at its online auctions.

The Dow Jones industrial average has surged 22 percent this year and, if history holds, will add to that gain this month. The Dow has risen in December in three out of every four years going back to 1950, according to the Stock Trader's Almanac. The average gain: 1.7 percent.

On Monday, the Dow fell 77.64 points, or 0.5 percent, to 16,008.77. The Standard & Poor's 500 index dropped 4.91 points, or 0.3 percent, to 1,800.90. The Nasdaq composite fell 14.63 points, or 0.4 percent, to 4,045.26.

The government reported that developers boosted construction spending in October at the fastest pace in more than four years. A separate survey showed that manufacturing activity rose at its fastest pace in 2  ½ years.

Joseph S. Tanious, global market strategist at JPMorgan, said he was encouraged by the reports but that many investors ignored them. He said people have made too much money in the market already this year and are playing it safe by locking in gains.

"Investors are looking for reasons to sell," Tanious said. "But I think the markets will move higher between here and the year-end." 								

 *The NYSE DOW closed  	LOWER ▼	-77.64	points or ▼	-0.48%	on	Monday, 2 December 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16008.77	▼	-77.64	▼	-0.48%		
	Nasdaq___	4045.26	▼	-14.63	▼	-0.36%		
	S&P_500__	1800.9	▼	-4.91	▼	-0.27%		
	30_Yr_Bond	3.86	▲	0.052	▲	1.37%		

NYSE Volume	 3,075,410,250 	 	 	 	 	  		 
Nasdaq Volume	 1,668,466,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6595.33	▼	-55.24	▼	-0.83%		
	DAX_____	9401.96	▼	-3.34	▼	-0.04%		
	CAC_40__	4285.81	▼	-9.4	▼	-0.22%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5273.5	▼	-40.8	▼	-0.77%		
	Shanghai_Comp	2207.37	▼	-13.13	▼	-0.59%		
	Taiwan_Weight	8414.61	▲	7.78	▲	0.09%		
	Nikkei_225____	15655.07	▼	-6.8	▼	-0.04%		
	Hang_Seng____	24038.55	▲	157.26	▲	0.66%		
	Strait_Times___	3188.76	▲	12.41	▲	0.39%		
	NZX_50_Index__	4792.33	▼	-2.62	▼	-0.05%		

http://finance.yahoo.com/news/stocks-fall-disappointing-thanksgiving-sales-220453351.html

*Stocks fall on disappointing Thanksgiving sales

Stocks fall on disappointing Thanksgiving holiday sales*

By Bernard Condon, AP Business Writer

The final month of a stellar year for stocks began with a thud.

All three major indexes closed lower Monday, the first day of trading in December. Investors sold shares on signs that American shoppers ”” that seemingly inexhaustible fuel of global economic growth ”” may hold tight to their cash this holiday season.

Shoppers turned out in record numbers over the four-day Thanksgiving weekend, but plunked down less cash than they did last year. It was the first decline in Thanksgiving weekend spending since a retail trade group began tracking it in 2006.

Investors reacted by selling all types of retailer stocks, from department stores to specialty chains. J.C. Penney, Macy's and Target fell about 2 percent each. Urban Outfitters dropped nearly 4 percent.

"This holiday season is not going to be a gangbuster," said Lindsey Piegza, chief economist of Sterne Agee. "Retailers are bracing for declining activity from now to the beginning of the year."

One big exception to the retailer doldrums was Ebay, which rose 1.5 percent thanks to strong sales at its online auctions.

The Dow Jones industrial average has surged 22 percent this year and, if history holds, will add to that gain this month. The Dow has risen in December in three out of every four years going back to 1950, according to the Stock Trader's Almanac. The average gain: 1.7 percent.

On Monday, the Dow fell 77.64 points, or 0.5 percent, to 16,008.77. The Standard & Poor's 500 index dropped 4.91 points, or 0.3 percent, to 1,800.90. The Nasdaq composite fell 14.63 points, or 0.4 percent, to 4,045.26.

The government reported that developers boosted construction spending in October at the fastest pace in more than four years. A separate survey showed that manufacturing activity rose at its fastest pace in 2  ½ years.

Joseph S. Tanious, global market strategist at JPMorgan, said he was encouraged by the reports but that many investors ignored them. He said people have made too much money in the market already this year and are playing it safe by locking in gains.

"Investors are looking for reasons to sell," Tanious said. "But I think the markets will move higher between here and the year-end."

Stocks have soared as the economy maintains a slow but steady recovery and companies continue to increase earnings. Demand for stocks also has been bolstered by Federal Reserve purchases of $85 billion of bonds each month. The goal is to hold down interest rates, make bonds less attractive than stocks, and stimulate the economy.

Stock investors are waiting for a government report on jobs Friday for clues about whether the stimulus policy is working and when the Fed will ease off its bond purchases. Investors have sold on days when they feared a Fed pullback was imminent.

In government bond trading, the yield on the 10-year note climbed to 2.80 percent, from 2.75 percent. The yield was as low as 1.63 percent in early May.

Phone companies led the broader market lower Monday. Investors typically buy those stocks because they pay big dividends, providing income. When interest rates climb investors sell them because the income is less attractive compared with higher bond yields.

Other stocks making big moves:

”” 3M plunged $5.83, or 4.4 percent, to $127.68 after Morgan Stanley downgraded the stock. It was the biggest loser in the Dow and the S&P 500.

”” Forest Laboratories surged $5.01 to $56.32, or 10 percent, the biggest gain in the S&P 500. The drugmaker expects to cut jobs as part of a plan to trim $500 million in costs, and spend at least $400 million buying back its stock.

”” Dow Chemical rose 92 cents, or 2.4 percent, to $39.98. The company plans to either sell or spin off about 40 manufacturing plants as it moves away from making cyclical commodities, products whose demand is closely tied to the ebbs and flows of the economy.


----------



## bigdog

Source: http://finance.yahoo.com 

After eight weeks of gains, maybe the stock market pullback long anticipated by investors has arrived.

Stocks fell Tuesday, dragged lower by the Detroit automakers and consumer-focused companies such as GameStop and Amazon.com. The market could be headed for its first weekly decline since early October, putting at risk a remarkable rally that has sent indexes to record highs.

The declines do not come as a surprise to large investors, many of whom have been predicting a pullback. The S&P 500 has surged 26 percent this year, on track for its best year since the dot-com bull market of the late 1990s.

Stocks cannot go straight up all the time. For stocks to pause, decline or even enter a "correction," a Wall Street term for when an index falls 10 percent or more, would all be considered normal after eight straight weeks of gains.

"The markets may have stalled out here, but that must be taken in the context of what has been a great year," said Alec Young, global equity strategist with S&P Capital IQ.

The Dow Jones industrial average lost 94.15 points, or 0.6 percent, to 15,914.62. The Standard & Poor's 500 index fell 5.75 points, or 0.3 percent, to 1,795.15 and the Nasdaq composite fell 8.06 points, or 0.2 percent, to 4,037.20.

Companies that depend heavily on consumer spending had some of the biggest losses. GameStop, the video game retailer, sank $1.02, or 2 percent, to $45.95, one of the worst declines in the S&P 500 index. Amazon.com fell $7.64, or 2 percent, to $384.66.

Automakers fell. General Motors lost 97 cents, or 3 percent, to $38.14 and Ford fell 50 cents, or 3 percent, to $16.56, despite what auto industry analysts considered mostly positive sales reports for November.

The sell-off auto stocks cams as a surprise to industry analysts. Chrysler said sales rose 16 percent in November compared with a year ago, while GM and Ford's sales increased 14 percent and 7 percent, respectively. Overall, the industry reported a 9 percent year-over-year sales gain.

Investors are waiting for several economic reports later this week that could influence whether the Fed will pare back its $85 billion-a-month bond-buying program, which is designed to keep interest rates low and stimulate the economy. 								

 *The NYSE DOW closed  	LOWER ▼	-94.15	points or ▼	-0.59%	on	Tuesday, 3 December 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15914.62	▼	-94.15	▼	-0.59%		
	Nasdaq___	4037.2	▼	-8.06	▼	-0.20%		
	S&P_500__	1795.15	▼	-5.75	▼	-0.32%		
	30_Yr_Bond	3.837	▼	-0.023	▼	-0.60%		

NYSE Volume	 3,455,097,000 	 	 	 	 	  		 
Nasdaq Volume	 1,856,364,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6532.43	▼	-62.9	▼	-0.95%		
	DAX_____	9223.4	▼	-178.56	▼	-1.90%		
	CAC_40__	4172.44	▼	-113.37	▼	-2.65%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5249.6	▼	-23.9	▼	-0.45%		
	Shanghai_Comp	2222.67	▲	15.3	▲	0.69%		
	Taiwan_Weight	8392.55	▼	-22.06	▼	-0.26%		
	Nikkei_225____	15749.66	▲	94.59	▲	0.60%		
	Hang_Seng____	23910.47	▼	-128.08	▼	-0.53%		
	Strait_Times___	3187.67	▼	-1.09	▼	-0.03%		
	NZX_50_Index__	4783.85	▼	-8.48	▼	-0.18%		

http://finance.yahoo.com/news/stocks-sink-us-consumer-spending-214722560.html

*
Stocks sink as US consumer spending worries deepen

Stocks sink as investors worry about Fed winding down stimulus and weak US consumer spending*

By Ken Sweet, AP Markets Writer

After eight weeks of gains, maybe the stock market pullback long anticipated by investors has arrived.

Stocks fell Tuesday, dragged lower by the Detroit automakers and consumer-focused companies such as GameStop and Amazon.com. The market could be headed for its first weekly decline since early October, putting at risk a remarkable rally that has sent indexes to record highs.

The declines do not come as a surprise to large investors, many of whom have been predicting a pullback. The S&P 500 has surged 26 percent this year, on track for its best year since the dot-com bull market of the late 1990s.

Stocks cannot go straight up all the time. For stocks to pause, decline or even enter a "correction," a Wall Street term for when an index falls 10 percent or more, would all be considered normal after eight straight weeks of gains.

"The markets may have stalled out here, but that must be taken in the context of what has been a great year," said Alec Young, global equity strategist with S&P Capital IQ.

The Dow Jones industrial average lost 94.15 points, or 0.6 percent, to 15,914.62. The Standard & Poor's 500 index fell 5.75 points, or 0.3 percent, to 1,795.15 and the Nasdaq composite fell 8.06 points, or 0.2 percent, to 4,037.20.

Companies that depend heavily on consumer spending had some of the biggest losses. GameStop, the video game retailer, sank $1.02, or 2 percent, to $45.95, one of the worst declines in the S&P 500 index. Amazon.com fell $7.64, or 2 percent, to $384.66.

Automakers fell. General Motors lost 97 cents, or 3 percent, to $38.14 and Ford fell 50 cents, or 3 percent, to $16.56, despite what auto industry analysts considered mostly positive sales reports for November.

The sell-off auto stocks cams as a surprise to industry analysts. Chrysler said sales rose 16 percent in November compared with a year ago, while GM and Ford's sales increased 14 percent and 7 percent, respectively. Overall, the industry reported a 9 percent year-over-year sales gain.

Investors are waiting for several economic reports later this week that could influence whether the Fed will pare back its $85 billion-a-month bond-buying program, which is designed to keep interest rates low and stimulate the economy.

"When you look at how markets have performed this year, some investors may have decided to cash in, put their feet up and drink eggnog," said Lawrence Creatura, a portfolio manager with Federated Investors.

On Friday, the government will release its monthly job market survey, one of the most closely watched indicators of the U.S. economy. Economists expect that employers created 180,000 jobs last month while the unemployment rate remained steady at 7.2 percent, according to FactSet, a financial information provider.

Investors have been seeing some encouraging economic news recently. A trade group reported Monday that manufacturing was growing in the U.S. at the fastest pace in two and a half years. The group also said factories were hiring at the quickest rate in 18 months.

A strong economy is good for corporate profits, and by extension the stock market, over the long term. But if the economy is getting closer to full strength, that means the Federal Reserve could have all the more reason to pull back its stimulus program, which has been supporting financial markets. The Fed's huge bond-buying program has been giving investors an incentive to buy stocks by making bonds look more expensive in comparison.

"The concern in the near term is that, since the economic data is picking up steam, the Fed could pull back as soon as January," Young said.

On Thursday investors will have other important economic news to consider, an updated report on U.S. economic growth. Economists expect the economy expanded at a 3.2 percent annual rate last quarter.

A key worry for investors these days is how willing U.S. consumers are to spend during the holiday shopping season, which is just getting underway.

The National Retail Federation said Monday that a record number of consumers went shopping over the four-day Thanksgiving weekend. However, the average amount spent by each shopper fell compared with the same period last year, the first decline since the trade group began tracking the figures in 2006.

In company news:

Yum Brands fell $2.10, or 3 percent, to $75.61. The owner of KFC and Taco Bell said sales in China, a key market for the company, have been sluggish because of concerns among Chinese customers about food safety.

Abercrombie & Fitch rose $1.97, or 6 percent, to $35.99. The stock of the teen clothing store owner rose after an activist shareholder, Engaged Capital, sent a letter to the company demanding that CEO Michael Jeffries be replaced.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market continued its sluggish start to the month on Wednesday.

Stocks fell as investors weighed conflicting economic reports and assessed the outlook for the Federal Reserve's economic stimulus program.

The market was lower in early trading after a payroll company reported that U.S. businesses added the most jobs in a year last month as manufacturing and construction expanded. Investors worried that this latest sign of economic expansion could mean that the Fed will pull back on its stimulus sooner than previously expected.

Indexes reversed course in mid-morning trading after another survey showed weakness in the U.S. service sector last month. The Institute for Supply Management said its service-sector index fell to the lowest level since June, indicating that cautious spending by consumers and businesses may be slowing growth.

By midday stocks began sliding again and the Standard & Poor's 500 index closed lower for the fourth straight day, its longest losing streak in more than two months.

The latest bout of investor anxiety about the Fed's plans for its stimulus program comes ahead of the government's closely watched monthly employment report due out on Friday. The Fed's $85 billion in monthly bond purchases have been supporting financial markets and giving investors an incentive to buy stocks by making bonds seem relatively expensive. The Fed's program is aimed at supporting the economy by keeping long-term interest rates very low to encourage borrowing and hiring.

After surging this year, stocks have had a slow start to December, statistically one of the strongest months for the market. The S&P 500 index has dropped 0.7 percent so far, paring its annual gain to 25.7 percent. The big gains have left some investors nervous about adding to their holdings, lest they buy at the peak in the market.

"Things have been up and down," said Bob Gavlak, a wealth adviser with Strategic Wealth Partners. "There's some general angst about whether the market is overvalued and when is it going to come back down."

Sears was among the biggest losers on Wednesday.

The stock fell $4.63, or 8.3 percent, to $50.92 after the company's CEO, the billionaire hedge-fund manager Eddie Lampert, who is also chairman and chief executive of Sears, reduced his stake in the department store chain to less than half.

CF Industries was the biggest gainer in the Standard & Poor's 500 index, surging $22.88, or 10.7 percent, to $237.07 after the fertilizer company told investors that it was evaluating whether to increase its dividends over time and said it expected to have "significant" additional cash to give to shareholders.

The Dow Jones industrial average fell 24.85 points, or 0.2 percent, to 15,889.77. The S&P 500 index fell 2.34 points, or 0.1 percent, to 1,792.81. The Nasdaq composite edged up 0.80 point to 4,038.

As stocks slumped, the yield on the 10-year Treasury note rose to its highest level in more than two months. 								

 *The NYSE DOW closed  	LOWER ▼	-24.85	points or ▼	-0.16%	on	Wednesday, 4 December 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15889.77	▼	-24.85	▼	-0.16%		
	Nasdaq___	4038	▲	0.8	▲	0.02%		
	S&P_500__	1792.81	▼	-2.34	▼	-0.13%		
	30_Yr_Bond	3.905	▲	0.068	▲	1.77%		

NYSE Volume	 3,597,969,750 	 	 	 	 	  		 
Nasdaq Volume	 1,863,681,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6509.97	▼	-22.46	▼	-0.34%		
	DAX_____	9140.63	▼	-82.77	▼	-0.90%		
	CAC_40__	4148.52	▼	-23.92	▼	-0.57%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5267.5	▲	17.9	▲	0.34%		
	Shanghai_Comp	2251.76	▲	29.09	▲	1.31%		
	Taiwan_Weight	8418	▲	25.45	▲	0.30%		
	Nikkei_225____	15407.94	▼	-341.72	▼	-2.17%		
	Hang_Seng____	23728.7	▼	-181.77	▼	-0.76%		
	Strait_Times___	3160.7	▼	-26.97	▼	-0.85%		
	NZX_50_Index__	4734.15	▼	-49.7	▼	-1.04%		

http://finance.yahoo.com/news/stocks-struggle-investors-weigh-economic-212946329.html


*Stocks struggle as investors weigh economic news

Stocks edge lower as investors weigh economic news and the outlook for the Fed's stimulus*

By Steve Rothwell, AP Markets Writer

The stock market continued its sluggish start to the month on Wednesday.

Stocks fell as investors weighed conflicting economic reports and assessed the outlook for the Federal Reserve's economic stimulus program.

The market was lower in early trading after a payroll company reported that U.S. businesses added the most jobs in a year last month as manufacturing and construction expanded. Investors worried that this latest sign of economic expansion could mean that the Fed will pull back on its stimulus sooner than previously expected.

Indexes reversed course in mid-morning trading after another survey showed weakness in the U.S. service sector last month. The Institute for Supply Management said its service-sector index fell to the lowest level since June, indicating that cautious spending by consumers and businesses may be slowing growth.

By midday stocks began sliding again and the Standard & Poor's 500 index closed lower for the fourth straight day, its longest losing streak in more than two months.

The latest bout of investor anxiety about the Fed's plans for its stimulus program comes ahead of the government's closely watched monthly employment report due out on Friday. The Fed's $85 billion in monthly bond purchases have been supporting financial markets and giving investors an incentive to buy stocks by making bonds seem relatively expensive. The Fed's program is aimed at supporting the economy by keeping long-term interest rates very low to encourage borrowing and hiring.

After surging this year, stocks have had a slow start to December, statistically one of the strongest months for the market. The S&P 500 index has dropped 0.7 percent so far, paring its annual gain to 25.7 percent. The big gains have left some investors nervous about adding to their holdings, lest they buy at the peak in the market.

"Things have been up and down," said Bob Gavlak, a wealth adviser with Strategic Wealth Partners. "There's some general angst about whether the market is overvalued and when is it going to come back down."

Sears was among the biggest losers on Wednesday.

The stock fell $4.63, or 8.3 percent, to $50.92 after the company's CEO, the billionaire hedge-fund manager Eddie Lampert, who is also chairman and chief executive of Sears, reduced his stake in the department store chain to less than half.

CF Industries was the biggest gainer in the Standard & Poor's 500 index, surging $22.88, or 10.7 percent, to $237.07 after the fertilizer company told investors that it was evaluating whether to increase its dividends over time and said it expected to have "significant" additional cash to give to shareholders.

The Dow Jones industrial average fell 24.85 points, or 0.2 percent, to 15,889.77. The S&P 500 index fell 2.34 points, or 0.1 percent, to 1,792.81. The Nasdaq composite edged up 0.80 point to 4,038.

As stocks slumped, the yield on the 10-year Treasury note rose to its highest level in more than two months.

The yield on the 10-year note climbed to 2.84 percent from 2.78 percent on Tuesday, resuming its upward trajectory on signs that the economy is maintaining its recovery. In September the yield climbed as high as 3 percent amid speculation that the Fed was set to announce that it would cut back on its economic stimulus.

Investors are following Treasury rates closely because they are used as a benchmark for setting many kinds of borrowing rates, such as those on mortgages.

However, it will be the speed at which interest rates climb, rather than the absolute level that they reach, that will be crucial for the economy and the stock market, said Quincy Krosby, a market strategist at Prudential Financial.

"Markets can get used to a gradual move," said Krosby.

The stock market has had an outstanding year. The Dow Jones industrial average and the S&P 500 index have climbed to record levels. The only two months when the stock market declined both occurred when investors thought the Fed was poised to ease back on its stimulus.

While higher rates will push up borrowing costs, stock investors should welcome the end of stimulus because it shows the economy is strengthening, said Doug Cote, chief market strategist at ING Investment Management.

"Ultimately, it's a good thing," said Cote. "It means the economy is standing on its own two feet."

In commodities trading, oil rose $1.16, or 1.2 percent, to $97.20 a barrel. Gold climbed $26.40, or 4 percent, to $1,247.20 an ounce.

Among stocks making big moves:

”” Deere & Co. rose $2.67, or 3.2 percent, to $85.38 after the farm equipment maker's board of directors approved an increase to the company's stock buyback program.

”” Express fell $5.67, or 23 percent, to $19 after the clothing retailer reported earnings that missed analysts' estimates and lowered its full-year earnings forecast.


----------



## bigdog

Source: http://finance.yahoo.com 

The outlook for hiring is improving and the economy is growing at its fastest pace in more than a year, so what's the bad news for the stock market?

Stocks fell Thursday after the government reported that the number of Americans applying for unemployment benefits dropped to the lowest in nearly six years last week. Also, the U.S. economy grew at a 3.6 percent annual rate from July through September, the fastest since early 2012.

Investors believe the encouraging signs on the economy will push the Federal Reserve closer to pulling back on its $85 billion-a-month bond-buying program. That stimulus, which is intended to hold down interest rates, has been helping to power this year's record-setting run in the stock market.

The Standard & Poor's 500 index dropped for the fifth time in a row, matching its longest losing streak since September.

"If they do cut the bond purchases, the knee-jerk reaction for the market will be to move down," said Chris Gaffney, a senior market strategist at EverBank.

The S&P 500 index fell 7.78 points, or 0.4 percent, to 1,785.03. The Dow Jones industrial average fell 68.26 points, or 0.4 percent, to 15,821.51. The Nasdaq composite declined 4.84 points, or 0.1 percent, at 4,033.16.

Earlier in the week, there were strong reports on manufacturing and construction. Investors will get more insight into how the U.S. economy is doing on Friday, when the government releases its monthly jobs report.

While few investors think that the Fed will announce a reduction to its bond purchases at its meeting this month, many believe policy makers could make the move in March.								

 *The NYSE DOW closed  	LOWER ▼	-68.26	points or ▼	-0.43%	on	Thursday, 5 December 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15821.51	▼	-68.26	▼	-0.43%		
	Nasdaq___	4033.17	▼	-4.84	▼	-0.12%		
	S&P_500__	1785.03	▼	-7.78	▼	-0.43%		
	30_Yr_Bond	3.914	▲	0.009	▲	0.23%		

NYSE Volume	 3,316,274,500 	 	 	 	 	  		 
Nasdaq Volume	 1,860,696,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6498.33	▼	-11.64	▼	-0.18%		
	DAX_____	9084.95	▼	-55.68	▼	-0.61%		
	CAC_40__	4099.91	▼	-48.61	▼	-1.17%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5196.9	▼	-70.6	▼	-1.34%		
	Shanghai_Comp	2247.06	▼	-4.7	▼	-0.21%		
	Taiwan_Weight	8375.54	▼	-42.46	▼	-0.50%		
	Nikkei_225____	15177.49	▼	-230.45	▼	-1.50%		
	Hang_Seng____	23712.57	▼	-16.13	▼	-0.07%		
	Strait_Times___	3124.38	▼	-36.32	▼	-1.15%		
	NZX_50_Index__	4719.95	▼	-14.21	▼	-0.30%		

http://finance.yahoo.com/news/stocks-fall-wall-street-retailers-171941109.html

*Stocks fall on Wall Street; Retailers slump

Stocks edge lower as positive economic reports lead to speculation of Fed exit from stimulus*

By Steve Rothwell, AP Markets Writer

The outlook for hiring is improving and the economy is growing at its fastest pace in more than a year, so what's the bad news for the stock market?

Stocks fell Thursday after the government reported that the number of Americans applying for unemployment benefits dropped to the lowest in nearly six years last week. Also, the U.S. economy grew at a 3.6 percent annual rate from July through September, the fastest since early 2012.

Investors believe the encouraging signs on the economy will push the Federal Reserve closer to pulling back on its $85 billion-a-month bond-buying program. That stimulus, which is intended to hold down interest rates, has been helping to power this year's record-setting run in the stock market.

The Standard & Poor's 500 index dropped for the fifth time in a row, matching its longest losing streak since September.

"If they do cut the bond purchases, the knee-jerk reaction for the market will be to move down," said Chris Gaffney, a senior market strategist at EverBank.

The S&P 500 index fell 7.78 points, or 0.4 percent, to 1,785.03. The Dow Jones industrial average fell 68.26 points, or 0.4 percent, to 15,821.51. The Nasdaq composite declined 4.84 points, or 0.1 percent, at 4,033.16.

Earlier in the week, there were strong reports on manufacturing and construction. Investors will get more insight into how the U.S. economy is doing on Friday, when the government releases its monthly jobs report.

While few investors think that the Fed will announce a reduction to its bond purchases at its meeting this month, many believe policy makers could make the move in March.

Several retailers fell after reporting disappointing results. L Brands, the owner of Victoria's Secret, Bath & Body Works and other stores, lost $1.07, or 1.7 percent, to $62.18 after reporting that its sales dropped 5 percent last month.

Gaming company Electronic Arts was the biggest decliner in the S&P 500 index after Forbes reported that the company had been forced to delay future games from one of its developers due to ongoing problems with its Battlefield 4 game. The company's stock fell $1.33, or 6 percent, to $21.01.

The S&P 500 index has dipped 1.2 percent since the start of the month and is on course to log its first weekly decline in nine weeks. The loss has pared this year's advance to 25.2 percent.

Stocks have been surging this year as the Fed's stimulus helped keep the economic recovery on track and as corporations produced record profits. Low interest rates have also made stocks more attractive in comparison to bonds.

The stock market may also be sliding this month as investors sell some of their best-performing holdings given the strong returns this year, said Natalie Trunow, chief investment officer at Calvert Investments, an asset management company.

"I just don't know if folks will try to squeeze another percentage point (out of the market), or just sell and go home," said Trunow.

In government bond trading, the yield on the 10-year Treasury note rose to 2.87 percent from 2.83 percent Wednesday. The yield is the highest it's been in more than two months as traders expect the Fed to reduce its bond purchases.

In commodities trading, the price of oil rose 18 cents, or 0.2 percent, to $97.38 a barrel. Gold fell $15.30, or 1.2 percent, to $1,231.90 an ounce.

Among other stocks making big moves:

”” Microsoft fell 94 cents, or 1.4 percent, to $38 after Bloomberg reported a Ford company director as saying that CEO Alan Mulally was staying at the automaker until the end of next year. Mulally is considered one of the leading candidates to take the top job at the software company.

”” Morgan Stanley slumped 92 cents, or 3 percent, to $30.21 after analysts at Deutsche Bank cut its rating on the bank's stock to "hold" from "buy," saying volatile trading in bond markets may hurt the bank's earnings.

”” Dollar General rose $3.44, or 6.1 percent, to $59.81 after the retailer's earnings topped the estimates of analysts who follow the stock. Dollar General's net income rose as traffic improved and shoppers spent more per transaction.


----------



## bigdog

Source: http://finance.yahoo.com 

Good news was finally good news for the stock market on Friday.

Stocks rose sharply after the government reported a fourth straight month of solid U.S. job gains, the latest encouraging sign for the economy.

The strengthening job market focused investors on the nation's improving economy instead of concerns about the Federal Reserve's stimulus, snapping a five-day losing streak for stocks.

Stocks had been falling this week after a string of positive economic reports made investors worry that the Fed would soon pull back on its $85 billion in monthly bond purchases, which have kept long-term interest rates low and supported the stock market.

Now that hiring is showing consistent strength, investors seem to be letting go of their worry that the economy isn't ready for the Fed to start weaning the U.S. off that stimulus.

"The jobs report was outstanding," said Randy Frederick, a director of trading and derivatives at Charles Schwab. "It's refreshing to see the markets react positively, because we've been in a mode for so long of 'good news is bad news.'"

Employers added 203,000 jobs last month after adding 200,000 in October, the Labor Department announced before the U.S. stock market opened on Friday. November's job gain helped lower the unemployment rate to 7 percent from 7.3 percent in October.

Stocks jumped at the open and moved higher throughout the day. The Dow Jones industrial average rose by as much as 200 points in early afternoon trading before easing back slightly before the close.

The Dow closed up 198.69 points, or 1.3 percent, to 16,020.20. The Standard & Poor's 500 index rose 20.06 points, or 1.1 percent, to 1,805.09, its biggest gain in a month. The Nasdaq composite climbed 29.36, or 0.7 percent, to 4,062.52.

All 10 sectors in the S&P 500 index rose. Industrial stocks and others that tend to rise the most when the economy is growing posted some of the biggest gains. The jobs report showed that manufacturers added 27,000 jobs, the most since March 2012. 								

Friday's gains ended a mini-slump for the market in December. Fears of the Fed pulling back on its stimulus had made traders nervous when they saw the slew of good economic reports.

The good-news-is-bad-news attitude has at times stalled the market's impressive run-up this year.

The S&P 500 index fell 1.5 percent in June when Fed chairman Ben Bernanke said that policy makers could start scaling back stimulus later in the year. In August, the market dipped again, falling 3.1 percent, as bond yields climbed in anticipation of the end of stimulus.

But those were brief interruptions. The S&P 500 has surged 26.6 percent in 2013, putting it on track for its best year since 1998.

 *The NYSE DOW closed  	HIGHER ▲	198.69	points or ▲	1.26%	on	Friday, 6 December 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16020.2	▲	198.69	▲	1.26%		
	Nasdaq___	4062.52	▲	29.36	▲	0.73%		
	S&P_500__	1805.09	▲	20.06	▲	1.12%		
	30_Yr_Bond	3.917	▲	0.003	▲	0.08%		

NYSE Volume	 3,146,113,000 	 	 	 	 	  		 
Nasdaq Volume	 1,713,872,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6551.99	▲	53.66	▲	0.83%		
	DAX_____	9172.41	▲	87.46	▲	0.96%		
	CAC_40__	4129.37	▲	29.46	▲	0.72%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5186	▼	-10.9	▼	-0.21%		
	Shanghai_Comp	2237.11	▼	-9.96	▼	-0.44%		
	Taiwan_Weight	8367.72	▼	-7.82	▼	-0.09%		
	Nikkei_225____	15299.86	▲	122.37	▲	0.81%		
	Hang_Seng____	23743.1	▲	30.53	▲	0.13%		
	Strait_Times___	3114.17	▼	-10.21	▼	-0.33%		
	NZX_50_Index__	4713.52	▼	-6.43	▼	-0.14%		

http://finance.yahoo.com/news/stock-market-jumps-strong-jobs-205552167.html


*Stock market jumps after strong jobs report

Stocks move sharply higher, breaking 5-day slump, as investors gain confidence in the economy*

By Steve Rothwell, AP Markets Writer

Good news was finally good news for the stock market on Friday.

Stocks rose sharply after the government reported a fourth straight month of solid U.S. job gains, the latest encouraging sign for the economy.

The strengthening job market focused investors on the nation's improving economy instead of concerns about the Federal Reserve's stimulus, snapping a five-day losing streak for stocks.

Stocks had been falling this week after a string of positive economic reports made investors worry that the Fed would soon pull back on its $85 billion in monthly bond purchases, which have kept long-term interest rates low and supported the stock market.

Now that hiring is showing consistent strength, investors seem to be letting go of their worry that the economy isn't ready for the Fed to start weaning the U.S. off that stimulus.

"The jobs report was outstanding," said Randy Frederick, a director of trading and derivatives at Charles Schwab. "It's refreshing to see the markets react positively, because we've been in a mode for so long of 'good news is bad news.'"

Employers added 203,000 jobs last month after adding 200,000 in October, the Labor Department announced before the U.S. stock market opened on Friday. November's job gain helped lower the unemployment rate to 7 percent from 7.3 percent in October.

Stocks jumped at the open and moved higher throughout the day. The Dow Jones industrial average rose by as much as 200 points in early afternoon trading before easing back slightly before the close.

The Dow closed up 198.69 points, or 1.3 percent, to 16,020.20. The Standard & Poor's 500 index rose 20.06 points, or 1.1 percent, to 1,805.09, its biggest gain in a month. The Nasdaq composite climbed 29.36, or 0.7 percent, to 4,062.52.

All 10 sectors in the S&P 500 index rose. Industrial stocks and others that tend to rise the most when the economy is growing posted some of the biggest gains. The jobs report showed that manufacturers added 27,000 jobs, the most since March 2012.

General Electric rose 49 cents, or 2 percent, to $26.94. Plane maker Boeing increased $2.45, or 2 percent, to $135.18.

"Now we're getting investors trading more on fundamentals and long-term earnings for next year," said Mike Serio, regional Chief Investment Officer for Wells Fargo Private Bank. "There may be some backbone to the economy."

Friday's jobs news follows other upbeat signals this week on housing, manufacturing and economic growth.

Signs that the recovery is becoming more entrenched may lure more buyers back into the stock market, supporting prices, said JJ Kinahan, chief derivatives strategist at TD Ameritrade. Despite steady gains for the market over the last five years, some investors have remained wary after the collapse of 2008.

"We're seeing good numbers," Kinahan said. "Does this encourage people who have been underinvested all year to come in and spend some money on the market?"

Friday's gains ended a mini-slump for the market in December. Fears of the Fed pulling back on its stimulus had made traders nervous when they saw the slew of good economic reports.

The good-news-is-bad-news attitude has at times stalled the market's impressive run-up this year.

The S&P 500 index fell 1.5 percent in June when Fed chairman Ben Bernanke said that policy makers could start scaling back stimulus later in the year. In August, the market dipped again, falling 3.1 percent, as bond yields climbed in anticipation of the end of stimulus.

But those were brief interruptions. The S&P 500 has surged 26.6 percent in 2013, putting it on track for its best year since 1998.

Corporations have kept growing their earnings and the Fed's stimulus has kept bond yields low, making stocks a more attractive investment relative to bonds.

Fed policy makers have stressed that a gradual reduction in stimulus won't necessarily lead directly to higher short-term lending rates.

"The Fed has been trying for several months now to get the market to realize that tapering and tightening aren't the same thing," said Schwab's Frederick. "The market is finally realizing that."

In U.S. government bond trading, the yield on the 10-year Treasury note fell to 2.86 percent, from 2.87 percent Thursday.

The bond market's muted reaction to the strong jobs report may have been because the Fed was buying debt securities, said Jack Ablin, chief investment officer at BMO Private Bank. The central bank was scheduled to buy between $4.25 billion and $5.25 billion of Treasury notes on Friday, according to its monthly purchasing schedule, Ablin said.

Opinion among analysts is still divided as to when the Fed will start to cut back its purchases. Most believe that policy makers will want to see a longer trend of improving economic data before they start winding down. That makes a move at their next meeting, Dec. 17-18, unlikely.

"Everyone is still looking at the Fed beginning to reduce its bond purchases sometime next year," said Kate Warne, a research principal at investment adviser Edward Jones. "The data was strong, but it wasn't strong enough to change anything from yesterday."

The Fed's first two meetings next year are in January and March.

Among stocks making big moves;

”” Intel rose 56 cents, or 2.3 percent, to $24.82, after a Citigroup analyst upgraded the company's stock to "buy" from "neutral" because PC demand had stabilized.

”” J.C. Penney fell 77 cents, or 8.7 percent, to $8.08 after the struggling retailer said late Thursday that the Securities and Exchange Commission is looking into its liquidity, debt and other financial matters, raising concerns about the company's financial health.

”” Barnes & Noble has also been talking to the SEC. The company's stock fell $1.96, or 12 percent, to $14.43 on Friday after the bookseller said it was cooperating with the regulator on an investigation into its accounting.

7755


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market notched another record close Monday after a big acquisition in the food industry. Hope for a longer-term budget deal in Washington also helped.

Food distributor Sysco rose the most in the Standard & Poor's 500 index after the company announced an agreement to buy rival US Foods in an $8.2 billion deal. Sysco's stock jumped $3.31, or 9.7 percent, to $37.62.

Stocks extended a rally from Friday that was driven by a report of solid U.S. job gains. That boosted investor confidence that the economy was growing strongly enough to handle any pullback in the Federal Reserve's economic stimulus.

"We're just continuing the bullishness that we've had," said Rex Macey, Chief Investment Officer of Wilmington Trust Investment Advisors, a unit of Wilmington Trust Bank.

The S&P 500 index climbed 3.28 points, or 0.2 percent, to 1,808.37. That put the index a point above its previous record close of 1,807.23 set November 27.

Other indexes also made small gains. The Dow Jones industrial average rose 5.33 points, less than 0.1 percent, to 16,025.53. The Nasdaq composite increased 6.23 points, or 0.2 percent, to 4,068.75.

Stocks were also supported by reports that U.S. lawmakers were moving closer to reaching a longer-term budget deal, said Bill Stone, chief investment strategist at PNC Wealth Management Group.

Dick Durbin, the No. 2 Democrat in the Senate, said Sunday on ABC that budget negotiations are making progress and moving in the right direction.

The stock market stuttered in October after political wrangling over the budget caused a 16-day partial government shutdown that crimped economic growth and hurt consumer confidence.

A budget deal "could be viewed as positive, in the sense that it is putting to bed one more possible disruption," Stone said.

In other corporate news, American Airlines rose 65 cents, or 2.7 percent, to $24.60 on the company's first day of trading after completing its merger with US Airways.

There were no major economic reports for investors to focus on.

The stock market has climbed to record levels this year as corporations have kept increasing their earnings and the Fed has kept up its $85 billion-a-month bond purchasing program. The Fed's purchases have pushed up bond prices, lowered interest rates and encouraged investors to buy stocks.

Fed policymakers will meet next week, though few analysts are predicting that they will make changes to their bond-buying program. The meeting runs from Dec. 17 to Dec. 18. 								

 *The NYSE DOW closed  	HIGHER ▲	5.33	points or ▲	0.03%	on	Monday, 9 December 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16025.53	▲	5.33	▲	0.03%		
	Nasdaq___	4068.75	▲	6.23	▲	0.15%		
	S&P_500__	1808.37	▲	3.28	▲	0.18%		
	30_Yr_Bond	3.889	▼	-0.028	▼	-0.71%		

NYSE Volume	 3,126,186,250 	 	 	 	 	  		 
Nasdaq Volume	 1,703,228,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6559.48	▲	7.49	▲	0.11%		
	DAX_____	9195.17	▲	22.76	▲	0.25%		
	CAC_40__	4134.1	▲	4.73	▲	0.11%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5148.4	▼	-37.6	▼	-0.73%		
	Shanghai_Comp	2238.2	▲	1.09	▲	0.05%		
	Taiwan_Weight	8444.62	▲	76.9	▲	0.92%		
	Nikkei_225____	15650.21	▲	350.35	▲	2.29%		
	Hang_Seng____	23811.17	▲	68.07	▲	0.29%		
	Strait_Times___	3113.64	▼	-0.53	▼	-0.02%		
	NZX_50_Index__	4718.31	▲	4.78	▲	0.10%		

http://finance.yahoo.com/news/p-500-index-notches-another-214736697.html


*S&P 500 index notches another record close

Standard & Poor's 500 index ekes out a record close; Sysco surges on $8.2 billion acquisition*

By Steve Rothwell, AP Markets Writer

The stock market notched another record close Monday after a big acquisition in the food industry. Hope for a longer-term budget deal in Washington also helped.

Food distributor Sysco rose the most in the Standard & Poor's 500 index after the company announced an agreement to buy rival US Foods in an $8.2 billion deal. Sysco's stock jumped $3.31, or 9.7 percent, to $37.62.

Stocks extended a rally from Friday that was driven by a report of solid U.S. job gains. That boosted investor confidence that the economy was growing strongly enough to handle any pullback in the Federal Reserve's economic stimulus.

"We're just continuing the bullishness that we've had," said Rex Macey, Chief Investment Officer of Wilmington Trust Investment Advisors, a unit of Wilmington Trust Bank.

The S&P 500 index climbed 3.28 points, or 0.2 percent, to 1,808.37. That put the index a point above its previous record close of 1,807.23 set November 27.

Other indexes also made small gains. The Dow Jones industrial average rose 5.33 points, less than 0.1 percent, to 16,025.53. The Nasdaq composite increased 6.23 points, or 0.2 percent, to 4,068.75.

Stocks were also supported by reports that U.S. lawmakers were moving closer to reaching a longer-term budget deal, said Bill Stone, chief investment strategist at PNC Wealth Management Group.

Dick Durbin, the No. 2 Democrat in the Senate, said Sunday on ABC that budget negotiations are making progress and moving in the right direction.

The stock market stuttered in October after political wrangling over the budget caused a 16-day partial government shutdown that crimped economic growth and hurt consumer confidence.

A budget deal "could be viewed as positive, in the sense that it is putting to bed one more possible disruption," Stone said.

In other corporate news, American Airlines rose 65 cents, or 2.7 percent, to $24.60 on the company's first day of trading after completing its merger with US Airways.

There were no major economic reports for investors to focus on.

The stock market has climbed to record levels this year as corporations have kept increasing their earnings and the Fed has kept up its $85 billion-a-month bond purchasing program. The Fed's purchases have pushed up bond prices, lowered interest rates and encouraged investors to buy stocks.

Fed policymakers will meet next week, though few analysts are predicting that they will make changes to their bond-buying program. The meeting runs from Dec. 17 to Dec. 18.

Improvements in the labor market since September last year, when the Fed started its most recent round of stimulus, provided the most powerful argument for reducing bond purchases, St. Louis Fed President James Bullard said on Monday. Bullard, a voting member of the Fed's policy committee, was speaking in St. Louis.

In government bond trading, the yield on the 10-year Treasury note fell to 2.85 percent from 2.86 percent Friday.

In commodities trading, the price of oil fell 31 cents, or 0.3 percent, to $97.34 a barrel. Gold rose $5.20, or 0.4 percent, to $1,234.20 an ounce.

Among other stocks making big moves:

”” Twitter climbed $4.19, or 9.3 percent, to $49.14, its highest close since going public last month. The company said last week that it was developing its targeted ads based on user's web browsing history.

”” Edwards Lifesciences slipped $3.56, or 5.4 percent, to $62.73 after the Wall Street Journal reported that the company forecast lower sales of its Sapien heart valves.

”” McDonald's fell $1.08, or 1.1 percent, to $95.72 after the company said a key sales figure fell last month. Sales at U.S. restaurants open at least a year fell 0.8 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks fell modestly Tuesday as investors took a breather from a market that notched yet another record high the day before.

The market has hit several all-time highs in recent months, but with the holiday season and end of the year approaching many investors expect the market to be calm as 2013 winds down.

"It's quiet, and the only trading that will go on the rest of this year will be people selling for tax reasons and window dressing," said Jack Ablin, chief investment officer for BMO Private Bank, which manages $66 billion of assets.

It's a common practice for portfolio managers, in the last couple weeks of the year, to close out positions, sell off poor-performing stocks and try to make portfolios look as good as they possibly can when they mail their year-end statements to investors. On Wall Street, the practice is sometimes called "window dressing."

The Dow Jones industrial average fell 52.40 points, or 0.3 percent, to 15,973.13.

The Standard & Poor's 500 index lost 5.75 points, or 0.3 percent, to 1,802.62. The index hit an all-time high Monday.

The Nasdaq composite lost 8.26 points, or 0.2 percent, to 4,060.49.

Banking stocks were mostly higher after investors got some clarity on new regulations.

Federal regulators voted to approve the Volcker Rule, which bars banks from betting on the market with their own money. The Federal Deposit Insurance Corporation, the Securities and Exchange Commission and other federal agencies approved the rule, which will go into effect by July 2015 for the nation's largest banks.

Goldman Sachs increased $2.06, or 1.2 percent, to $169.73 and Morgan Stanley rose 38 cents, or 1.3 percent, to $30.77.

The Volcker rule is part of the Dodd-Frank financial reform law passed in 2010 in the aftermath of the financial crisis.

One of the few remaining events on the economic calendar this year is the Federal Reserve's two-day policy meeting next week. The Fed is widely expected to scale back its stimulus program in the coming months, but few investors expect it will do it next week so close to the end of the year. 								

 *The NYSE DOW closed  	LOWER ▼	-52.4	points or ▼	-0.33%	on	Tuesday, 10 December 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15973.13	▼	-52.4	▼	-0.33%		
	Nasdaq___	4060.49	▼	-8.26	▼	-0.20%		
	S&P_500__	1802.62	▼	-5.75	▼	-0.32%		
	30_Yr_Bond	3.83	▼	-0.06	▼	-1.54%		

NYSE Volume	 3,081,924,500 	 	 	 	 	  		 
Nasdaq Volume	 1,836,694,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6523.31	▼	-36.17	▼	-0.55%		
	DAX_____	9114.44	▼	-80.73	▼	-0.88%		
	CAC_40__	4091.14	▼	-42.96	▼	-1.04%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5146.2	▼	-2.2	▼	-0.04%		
	Shanghai_Comp	2237.49	▼	-0.71	▼	-0.03%		
	Taiwan_Weight	8443.39	▼	-1.23	▼	-0.01%		
	Nikkei_225____	15611.31	▼	-38.9	▼	-0.25%		
	Hang_Seng____	23744.19	▼	-66.98	▼	-0.28%		
	Strait_Times___	3081.72	▼	-31.92	▼	-1.03%		
	NZX_50_Index__	4706.51	▼	-11.8	▼	-0.25%		

http://finance.yahoo.com/news/stocks-lower-hitting-record-banks-172208826.html

*Stocks lower after hitting record; banks in focus

US stocks ease in quiet trade after hitting record; Wall Street starts to close books on 2013*

By Ken Sweet, AP Markets Writer 

Stocks fell modestly Tuesday as investors took a breather from a market that notched yet another record high the day before.

The market has hit several all-time highs in recent months, but with the holiday season and end of the year approaching many investors expect the market to be calm as 2013 winds down.

"It's quiet, and the only trading that will go on the rest of this year will be people selling for tax reasons and window dressing," said Jack Ablin, chief investment officer for BMO Private Bank, which manages $66 billion of assets.

It's a common practice for portfolio managers, in the last couple weeks of the year, to close out positions, sell off poor-performing stocks and try to make portfolios look as good as they possibly can when they mail their year-end statements to investors. On Wall Street, the practice is sometimes called "window dressing."

The Dow Jones industrial average fell 52.40 points, or 0.3 percent, to 15,973.13.

The Standard & Poor's 500 index lost 5.75 points, or 0.3 percent, to 1,802.62. The index hit an all-time high Monday.

The Nasdaq composite lost 8.26 points, or 0.2 percent, to 4,060.49.

Banking stocks were mostly higher after investors got some clarity on new regulations.

Federal regulators voted to approve the Volcker Rule, which bars banks from betting on the market with their own money. The Federal Deposit Insurance Corporation, the Securities and Exchange Commission and other federal agencies approved the rule, which will go into effect by July 2015 for the nation's largest banks.

Goldman Sachs increased $2.06, or 1.2 percent, to $169.73 and Morgan Stanley rose 38 cents, or 1.3 percent, to $30.77.

The Volcker rule is part of the Dodd-Frank financial reform law passed in 2010 in the aftermath of the financial crisis.

One of the few remaining events on the economic calendar this year is the Federal Reserve's two-day policy meeting next week. The Fed is widely expected to scale back its stimulus program in the coming months, but few investors expect it will do it next week so close to the end of the year.

Economists expect the Fed to start pulling back, or "tapering," its economic stimulus in the first three months of 2014.

"No matter how you look at it, tapering is on its way," said Quincy Krosby, market strategist with Prudential Financial.

Twitter jumped $2.85, or 6 percent, to $51.99 after the company announced a new service called "tailored audiences," a platform will let advertisers focus on a specific group of people and target ads to them.

In other corporate news, Lululemon Athletica's founder said he would relinquish the company's chairmanship after his comments about the body type of potential customers caused a backlash. The yoga apparel retailer fell $1.22, or 2 percent, to $69.12.

General Motors named Mary Barra as its next CEO. She will replace Dan Akerson and will be the first woman to run a major U.S. car company. GM slipped 50 cents, or 1.2 percent, to $40.40. The U.S. government also said Tuesday that it had sold the last of its stake in the automaker, which it acquired following GM's 2009 bankruptcy and restructuring.


----------



## bigdog

Source: http://finance.yahoo.com 

 The stock market fell the most in more than a month as investors assessed weak earnings reports from several U.S. companies.

Health care stocks had some of the biggest declines. Laboratory Corporation of America slumped after cutting its full-year earnings forecast. Quest Diagnostics, a major competitor, also dropped.

The broader stock market also fell. The Standard & Poor's 500 index has fallen six out of eight days in December, leaving it down 1.3 percent for the month.

The market may be succumbing to "buyer's fatigue" after a big rally this year, said Chris Bertelsen, chief investment officer at Global Financial Private Capital. The S&P 500 has surged 25 percent so far in 2013, putting it on track for its biggest annual increase in a decade.

"Anybody who thinks that it's up forever is certainly a neophyte to this business," said Bertelsen.

Another sign that investors' optimism on stocks may be flagging was a sharp drop in the Russell 2000, an index of small-company stocks. The index, which has surged 30 percent this year, leading the gains for major indexes, fell 1.6 percent Wednesday, the most in a month.

Investors also considered the impact of the latest budget deal in Washington, which will avert the immediate threat of another shutdown of the federal government. The 16-day shutdown in October crimped economic growth and hurt consumer confidence.

In the long run, the deal should be good for the stock market because it will allow investors to focus on the economy and the outlook for corporations rather than having to worry about politics, said Peter Sidoti, a former Wall Street analyst who now runs a company that focuses on analyzing small-company stocks.

"It just gets rid of the noise," said Sidoti, CEO of Sidoti & Co. "The less distractions that you have and the more that you have people focus on running their businesses, the better off we are."

The S&P 500 index fell 20.40 points, or 1.2 percent, to 1,782.22. It was the biggest slump for the index since Nov. 7.

The Dow Jones industrial average dropped 129.60 points, or 0.8 percent, to 15,843.53. The Nasdaq composite fell 56.68 points, or 1.4 percent, to 4,003.81. 								

 *The NYSE DOW closed  	LOWER ▼	-129.6	points or ▼	-0.81%	on	Wednesday, 11 December 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15843.53	▼	-129.6	▼	-0.81%		
	Nasdaq___	4003.81	▼	-56.68	▼	-1.40%		
	S&P_500__	1782.22	▼	-20.4	▼	-1.13%		
	30_Yr_Bond	3.88	▲	0.051	▲	1.33%		

NYSE Volume	 3,481,535,500 	 	 	 	 	  		 
Nasdaq Volume	 1,890,594,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6507.72	▼	-15.59	▼	-0.24%		
	DAX_____	9077.11	▼	-37.33	▼	-0.41%		
	CAC_40__	4086.86	▼	-4.28	▼	-0.10%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5109.5	▼	-36.7	▼	-0.71%		
	Shanghai_Comp	2204.17	▼	-33.33	▼	-1.49%		
	Taiwan_Weight	8433.77	▼	-9.62	▼	-0.11%		
	Nikkei_225____	15515.06	▼	-96.25	▼	-0.62%		
	Hang_Seng____	23338.24	▼	-405.95	▼	-1.71%		
	Strait_Times___	3060.74	▼	-20.98	▼	-0.68%		
	NZX_50_Index__	4704.3	▼	-2.2	▼	-0.05%		

http://finance.yahoo.com/news/us-stocks-slump-following-disappointing-173706309.html

*US stocks slump following disappointing earnings

Stocks slide to biggest loss in a month following weak earnings; Health care companies slump*

By Steve Rothwell, AP Markets Writer

The stock market fell the most in more than a month as investors assessed weak earnings reports from several U.S. companies.

Health care stocks had some of the biggest declines. Laboratory Corporation of America slumped after cutting its full-year earnings forecast. Quest Diagnostics, a major competitor, also dropped.

The broader stock market also fell. The Standard & Poor's 500 index has fallen six out of eight days in December, leaving it down 1.3 percent for the month.

The market may be succumbing to "buyer's fatigue" after a big rally this year, said Chris Bertelsen, chief investment officer at Global Financial Private Capital. The S&P 500 has surged 25 percent so far in 2013, putting it on track for its biggest annual increase in a decade.

"Anybody who thinks that it's up forever is certainly a neophyte to this business," said Bertelsen.

Another sign that investors' optimism on stocks may be flagging was a sharp drop in the Russell 2000, an index of small-company stocks. The index, which has surged 30 percent this year, leading the gains for major indexes, fell 1.6 percent Wednesday, the most in a month.

Investors also considered the impact of the latest budget deal in Washington, which will avert the immediate threat of another shutdown of the federal government. The 16-day shutdown in October crimped economic growth and hurt consumer confidence.

In the long run, the deal should be good for the stock market because it will allow investors to focus on the economy and the outlook for corporations rather than having to worry about politics, said Peter Sidoti, a former Wall Street analyst who now runs a company that focuses on analyzing small-company stocks.

"It just gets rid of the noise," said Sidoti, CEO of Sidoti & Co. "The less distractions that you have and the more that you have people focus on running their businesses, the better off we are."

The S&P 500 index fell 20.40 points, or 1.2 percent, to 1,782.22. It was the biggest slump for the index since Nov. 7.

The Dow Jones industrial average dropped 129.60 points, or 0.8 percent, to 15,843.53. The Nasdaq composite fell 56.68 points, or 1.4 percent, to 4,003.81.

Health care stocks slid 1.6 percent. Laboratory Corporation of America plunged $10.90, or 11 percent, to $88.25, the biggest decline in the S&P 500. Quest Diagnostics fell $3.40, or 5.8 percent, to $55.20.

Some investors also attributed Wednesday's slump to concern that the Federal Reserve could start to reduce its economic stimulus at its policy meeting that starts next Tuesday. That outcome appeared to become more likely following some strong economic reports recently, including a pickup in hiring last month.

The Fed has been buying $85 billion of bonds every month to hold down long-term interest rates. Ultimately, most investors see a potential reduction, or "tapering," of that stimulus as a positive signal that shows the economy is strengthening.

In the short run, however, any decrease in the Fed's huge bond purchases would likely create some anxiety in financial markets. The purchases have been driving bond prices higher and giving investors an incentive to buy stocks by making them seem less expensive in comparison.

Wednesday's drop "has probably more to do with anticipation of the Fed, than anything else," said Omar Aguilar, chief investment officer for equities at Schwab. "People are making the assumption that the tapering will happen sometime between now and February."

In government bond trading, the yield on the 10-year Treasury note rose to 2.85 percent from 2.80 percent on Tuesday.

In commodities trading, the price of oil fell $1.07, or 1.1 percent, to $97.44 a barrel. Gold fell $3.90, or 0.3 percent, to $1,257.20 an ounce.

Among other stocks making big moves:

”” Joy Global, fell $3.09, or 5.5 percent, to $53.15. The maker of mining equipment sank after posting earnings that fell short of analysts' forecasts.

”” Scripps Networks Interactive jumped $5.75, or 7.6 percent, to $81 after the media company said late Tuesday that the board of Discovery Communications discussed a possible bid for it.

”” MasterCard rose $26.96, or 3.5 percent, to $790.57 after announcing a 10-for-1 stock split. The company also raised its dividend and launched a $3.5 billion stock buyback program.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market fell to its lowest level in a month Thursday as investors worried that the end may be nearing for the Federal Reserve's support for the economy.

The Fed's stimulus efforts have been a key factor in the bull market that has pushed the Standard & Poor's 500 index almost 25 higher percent this year. Investors know it will end sooner or later. But the timing, and the fallout, are uncertain.

Until this month, stocks had risen for eight weeks straight. The S&P 500 set a record high as recently as Monday. But stocks posted their biggest declines since Nov. 7 on Wednesday, and dropped further on Thursday. Now they're on the verge of their second weekly loss in a row.

The Dow Jones industrial average closed down 104.10 points, or 0.7 percent, at 15,739.43. The S&P 500 fell 6.72 points, or 0.4 percent, to 1,775.50. The Nasdaq composite dropped 5.41 points, or 0.1 percent, to 3,998.40.

The Dow is still up 20 percent this year, and the Nasdaq has risen 32 percent.

"We don't think we're in a bubble, however we do know we're in an expensive market," said Marty Leclerc, chief investment officer and portfolio manager at Barrack Yard Advisors.

Leclerc said stocks have risen faster than earnings over the past couple of years, so it "wouldn't be unusual to have a step backwards even in the confines of a bull market run."

In economic news, the number of people seeking unemployment benefits rose to about where it was before the Great Recession.

Also, U.S. shoppers spent more money on appliances, furniture and cars in November. Spending had been muted for months heading into the crucial holiday shopping period, a worrisome sign for investors. Retail sales rose 0.7 percent last month, the biggest gain in five months. October sales were also revised higher.

That's the kind of economic data that has been interpreted to mean that the U.S. economy is strong enough for the Fed reduce, or "taper," as it's called on Wall Street, its stimulus program. 								

 *The NYSE DOW closed  	LOWER ▼	-104.1	points or ▼	-0.66%	on	Thursday, 12 December 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15739.43	▼	-104.1	▼	-0.66%		
	Nasdaq___	3998.4	▼	-5.41	▼	-0.14%		
	S&P_500__	1775.5	▼	-6.72	▼	-0.38%		
	30_Yr_Bond	3.897	▲	0.017	▲	0.44%		

NYSE Volume	 3,377,369,500 	 	 	 	 	  		 
Nasdaq Volume	 1,850,719,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6445.25	▼	-62.47	▼	-0.96%		
	DAX_____	9017	▼	-60.11	▼	-0.66%		
	CAC_40__	4069.12	▼	-17.74	▼	-0.43%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5069.2	▼	-40.3	▼	-0.79%		
	Shanghai_Comp	2202.8	▼	-1.37	▼	-0.06%		
	Taiwan_Weight	8361.33	▼	-72.44	▼	-0.86%		
	Nikkei_225____	15341.82	▼	-173.24	▼	-1.12%		
	Hang_Seng____	23218.12	▼	-120.12	▼	-0.51%		
	Strait_Times___	3059.04	▼	-1.7	▼	-0.06%		
	NZX_50_Index__	4708.2	▲	3.89	▲	0.08%		

http://finance.yahoo.com/news/us-stocks-fall-third-straight-213253705.html

*US stocks fall for a third straight day

Stocks move lower on Wall Street as investors grow wary of a possible Fed exit from stimulus*

By Joshua Freed, AP Business Writer

The stock market fell to its lowest level in a month Thursday as investors worried that the end may be nearing for the Federal Reserve's support for the economy.

The Fed's stimulus efforts have been a key factor in the bull market that has pushed the Standard & Poor's 500 index almost 25 higher percent this year. Investors know it will end sooner or later. But the timing, and the fallout, are uncertain.

Until this month, stocks had risen for eight weeks straight. The S&P 500 set a record high as recently as Monday. But stocks posted their biggest declines since Nov. 7 on Wednesday, and dropped further on Thursday. Now they're on the verge of their second weekly loss in a row.

The Dow Jones industrial average closed down 104.10 points, or 0.7 percent, at 15,739.43. The S&P 500 fell 6.72 points, or 0.4 percent, to 1,775.50. The Nasdaq composite dropped 5.41 points, or 0.1 percent, to 3,998.40.

The Dow is still up 20 percent this year, and the Nasdaq has risen 32 percent.

"We don't think we're in a bubble, however we do know we're in an expensive market," said Marty Leclerc, chief investment officer and portfolio manager at Barrack Yard Advisors.

Leclerc said stocks have risen faster than earnings over the past couple of years, so it "wouldn't be unusual to have a step backwards even in the confines of a bull market run."

In economic news, the number of people seeking unemployment benefits rose to about where it was before the Great Recession.

Also, U.S. shoppers spent more money on appliances, furniture and cars in November. Spending had been muted for months heading into the crucial holiday shopping period, a worrisome sign for investors. Retail sales rose 0.7 percent last month, the biggest gain in five months. October sales were also revised higher.

That's the kind of economic data that has been interpreted to mean that the U.S. economy is strong enough for the Fed reduce, or "taper," as it's called on Wall Street, its stimulus program.

"We get this taper mania, where every piece of economic data gets examined very closely," said Ryan Detrick, senior technical strategist with Schaeffer's Investment Research.

Detrick doesn't think that will happen as soon as this month. "I don't think the data's been strong enough for that," he said.

Social networking stocks continued to be strong. Facebook jumped $2.45, or 5 percent, to $51.83 after the stock was added to the S&P 500 index. Twitter rose $2.99, or almost 6 percent, to $55.33.

Lululemon Athletica plunged $7.96, or almost 12 percent, to $60.39 after the upscale yoga clothing maker said sales will be flat in the next quarter and revenue for the year will be less than it had predicted. Several gaffes have hurt sales of its $100 yoga pants and other products. In the spring Lululemon pulled some of its pants from stores after complaints that they became see-through. Two days ago, founder Chip Wilson stepped aside as chairman, and the company named a new CEO.

Hilton Worldwide, the world's largest hotel company, jumped $1.50, or 7.5 percent, to $21.50 on its first day of trading. The company raised $2.35 billion in its initial public offering, more than the $2.1 billion generated by Twitter's IPO last month.

Airlines rose, led by Southwest Airlines Co., which gained 82 cents, or 4.6 percent, to $18.79 after an upgrade by an analyst at Bank of America Merrill Lynch. United Continental Holdings Inc. rose $1.04, or 3 percent, to $37.62.

Networking company Ciena fell $1.59, or 7 percent, to $21.31 after quarterly earnings and its first-quarter outlook came in lower than expected.

Six of the 10 industry groups in the S&P 500 declined. The biggest losses were in consumer staples, technology, and health care stocks.

The yield on the 10-year Treasury note rose to almost 2.88 percent, from 2.85 percent on Wednesday.


----------



## bigdog

Source: http://finance.yahoo.com 

The rally that has driven stocks to record highs paused this week as investors tried to figure out where things are headed next.

Stocks were mixed on Friday and posted their second weekly loss in a row. Indexes reached record highs as recently as Monday, but then declined.

How come? Investors may be nervous that stocks are overpriced, that stock prices have grown faster than justified by profits. They may be worried about conflict with Iran, or the debate over federal spending. Some are worried the Federal Reserve will decide next week to reduce its economic stimulus, which has boosted stock prices.

"It's a hiatus," said Frank Fantozzi, CEO of money management firm Planned Financial Services. "I really think there's nothing economically wrong."

Fantozzi noted that other bull markets have run for seven or eight years and peaked with higher prices compared to profits than what we're seeing now.

The Dow Jones industrial average rose 15.93 points, or 0.1 percent, to close at 15,755.36. The Standard & Poor's 500 index fell 0.18 points, or 0.01 percent, to 1,775.32. The Nasdaq composite rose 2.57 points, or 0.06 percent, to 4,000.98.

All three indexes fell for the week despite strong reports on employment, housing, and retail spending. Investors have been worried that the stronger the Fed thinks the economy is, the more likely it is to stop buying $85 billion per month in bonds. The purchases have been aimed at keeping interest rates low, which makes it cheaper to borrow.

That has sent investors into stocks as they seek higher returns. The big indexes are up 20 percent or more this year.

The central bank's policymaking committee meets next week and will announce any decisions on Wednesday.

Guessing when the stimulus will end has become a parlor game for investors. They are stuck between betting that it will end soon, meaning stocks could decline, versus betting that it will continue, bringing the bull market along with it. 								

 *The NYSE DOW closed  	HIGHER ▲	15.93	points or ▲	0.10%	on	Friday, 13 December 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15755.36	▲	15.93	▲	0.10%		
	Nasdaq___	4000.98	▲	2.57	▲	0.06%		
	S&P_500__	1775.32	▼	-0.18	▼	-0.01%		
	30_Yr_Bond	3.87	▼	-0.02	▼	-0.62%		

NYSE Volume	 3,060,443,500 	 	 	 	 	  		 
Nasdaq Volume	 1,588,992,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6439.96	▼	-5.29	▼	-0.08%		
	DAX_____	9006.46	▼	-10.54	▼	-0.12%		
	CAC_40__	4059.71	▼	-9.41	▼	-0.23%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5101.5	▲	32.3	▲	0.64%		
	Shanghai_Comp	2196.07	▼	-6.72	▼	-0.31%		
	Taiwan_Weight	8376.94	▲	15.61	▲	0.19%		
	Nikkei_225____	15403.11	▲	61.29	▲	0.40%		
	Hang_Seng____	23245.96	▲	27.84	▲	0.12%		
	Strait_Times___	3066.02	▲	6.98	▲	0.23%		
	NZX_50_Index__	4717.06	▲	8.86	▲	0.19%		

http://finance.yahoo.com/news/stocks-mixed-3-day-downturn-213832962.html

*Stocks mixed after 3-day downturn

Stocks finish the week mixed after 3-day slump, posting 2nd weekly decline in a row*

By Joshua Freed, AP Business Writer 

The rally that has driven stocks to record highs paused this week as investors tried to figure out where things are headed next.

Stocks were mixed on Friday and posted their second weekly loss in a row. Indexes reached record highs as recently as Monday, but then declined.

How come? Investors may be nervous that stocks are overpriced, that stock prices have grown faster than justified by profits. They may be worried about conflict with Iran, or the debate over federal spending. Some are worried the Federal Reserve will decide next week to reduce its economic stimulus, which has boosted stock prices.

"It's a hiatus," said Frank Fantozzi, CEO of money management firm Planned Financial Services. "I really think there's nothing economically wrong."

Fantozzi noted that other bull markets have run for seven or eight years and peaked with higher prices compared to profits than what we're seeing now.

The Dow Jones industrial average rose 15.93 points, or 0.1 percent, to close at 15,755.36. The Standard & Poor's 500 index fell 0.18 points, or 0.01 percent, to 1,775.32. The Nasdaq composite rose 2.57 points, or 0.06 percent, to 4,000.98.

All three indexes fell for the week despite strong reports on employment, housing, and retail spending. Investors have been worried that the stronger the Fed thinks the economy is, the more likely it is to stop buying $85 billion per month in bonds. The purchases have been aimed at keeping interest rates low, which makes it cheaper to borrow.

That has sent investors into stocks as they seek higher returns. The big indexes are up 20 percent or more this year.

The central bank's policymaking committee meets next week and will announce any decisions on Wednesday.

Guessing when the stimulus will end has become a parlor game for investors. They are stuck between betting that it will end soon, meaning stocks could decline, versus betting that it will continue, bringing the bull market along with it.

Scott L. Wren, a senior equity strategist at Wells Fargo Advisors, believes the Fed will telegraph its intentions well in advance. Since they haven't done that yet, it suggests they won't act until the spring, he said. He also thinks the Fed could reduce its stimulus very slowly, easing the pain for financial markets.

"The Fed wants to err on the side of caution, and not do anything too crazy," he said.

Half of the 10 industry groups in the S&P 500 rose, led by consumer discretionary stocks. Stocks with declines included energy and technology stocks, as Apple, Google, and Microsoft all dipped.

December is shaping up to be a poor month for the stock market. The Dow, S&P and Nasdaq are all down. If they finish December lower, it would be the first monthly decline since August and only the third down month for the year.

Anadarko Petroleum fell $5.37, or 6 percent, to $78.30 after a federal bankruptcy judge said the company may be liable for between $5 billion and more than $14 billion in a legal battle over the spinoff of a paint materials company. The ruling isn't final.

Software maker Adobe Systems jumped almost 13 percent after subscription-based revenue rose. Adobe rose $6.90 to $60.89.

Video game maker Electronic Arts rose $1.25, or 6 percent, to $22.22 after early reports showed strong sales of new video game consoles from Sony and Microsoft.

Benchmark crude oil fell 90 cents to $96.60 on the New York Mercantile Exchange.

The yield on the 10-year Treasury note fell slightly to 2.86 percent.

8898


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks soared after two down weeks, as investors warmed up to the idea that the economy is getting better.

Stocks have fallen lately after good economic news, because investors worried that the Federal Reserve would think its stimulus was no longer needed. But Monday's gains, driven by two corporate deals and more positive economic news, suggested that investors are focused more on good news and less on what it means the central bank will do.

For a while, investors felt, "'Oh my goodness, we won't be able to survive without Fed support.' But people are actually seeing that things really are getting better," said Brad McMillan, chief investment officer for Commonwealth Financial.

The Fed meets for two days beginning Tuesday, and officials could signal when the Fed will dial back the stimulus that has helped boost the stock market this year.

The Dow Jones industrial average rose 129 points, or 0.8 percent, to close at 15,884.57, after rising almost 175 points in the morning. The Standard & Poor's 500 index rose 11 points, or 0.6 percent, to 1,786.54. The Nasdaq composite was higher by 28 points, or 0.7 percent, at 4,029.52.

Monday brought the first gain in five days for the S&P 500 index. The Dow has risen two trading days in a row and reduced some of the losses from last week.

Two major deals caught investors' attention: Chipmaker Avago Technologies is buying LSI Corp. for $6.6 billion. Avago rose $4.45, or 10 percent, to $50.10, while LSI rose $3.05, or 39 percent, to $10.96.

Also Monday, the Federal Reserve said factory production accelerated in November as auto production surged. The gains in manufacturing could help boost economic growth.

Just last week, such positive reports made investors nervous. They feared the Fed would think the economy was doing so well that its $85 billion in monthly bond-buying was no longer needed.

The Fed will release a statement and projections for the economy Wednesday. Economists are almost unanimous in believing the Fed will not begin winding down its stimulus program yet.

This year's stock rally has been fueled by that stimulus, higher corporate earnings, and a slow but steady recovery in the U.S. economy. All of the big indexes are up more than 20 percent.					

 *The NYSE DOW closed  	HIGHER ▲	129.21	points or ▲	0.82%	on	Monday, 16 December 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15884.57	▲	129.21	▲	0.82%		
	Nasdaq___	4029.52	▲	28.54	▲	0.71%		
	S&P_500__	1786.54	▲	11.22	▲	0.63%		
	30_Yr_Bond	3.895	▲	0.022	▲	0.57%		

NYSE Volume	 3,151,846,750 	 	 	 	 	  		 
Nasdaq Volume	 1,920,565,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6522.2	▲	82.24	▲	1.28%		
	DAX_____	9163.56	▲	157.1	▲	1.74%		
	CAC_40__	4119.88	▲	60.17	▲	1.48%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5093.1	▼	-8.4	▼	-0.16%		
	Shanghai_Comp	2160.86	▼	-35.21	▼	-1.60%		
	Taiwan_Weight	8313.87	▼	-63.07	▼	-0.75%		
	Nikkei_225____	15152.91	▼	-250.2	▼	-1.62%		
	Hang_Seng____	23114.66	▼	-131.3	▼	-0.56%		
	Strait_Times___	3053.77	▼	-12.25	▼	-0.40%		
	NZX_50_Index__	4735.61	▲	18.55	▲	0.39%		

http://finance.yahoo.com/news/us-stocks-rise-signs-stronger-204311915.html

*US stocks rise on signs of stronger economy

US stocks sharply higher on corporate deals and signs of stronger economy*

By Joshua Freed, AP Business Writer

Stocks soared after two down weeks, as investors warmed up to the idea that the economy is getting better.

Stocks have fallen lately after good economic news, because investors worried that the Federal Reserve would think its stimulus was no longer needed. But Monday's gains, driven by two corporate deals and more positive economic news, suggested that investors are focused more on good news and less on what it means the central bank will do.

For a while, investors felt, "'Oh my goodness, we won't be able to survive without Fed support.' But people are actually seeing that things really are getting better," said Brad McMillan, chief investment officer for Commonwealth Financial.

The Fed meets for two days beginning Tuesday, and officials could signal when the Fed will dial back the stimulus that has helped boost the stock market this year.

The Dow Jones industrial average rose 129 points, or 0.8 percent, to close at 15,884.57, after rising almost 175 points in the morning. The Standard & Poor's 500 index rose 11 points, or 0.6 percent, to 1,786.54. The Nasdaq composite was higher by 28 points, or 0.7 percent, at 4,029.52.

Monday brought the first gain in five days for the S&P 500 index. The Dow has risen two trading days in a row and reduced some of the losses from last week.

Two major deals caught investors' attention: Chipmaker Avago Technologies is buying LSI Corp. for $6.6 billion. Avago rose $4.45, or 10 percent, to $50.10, while LSI rose $3.05, or 39 percent, to $10.96.

AIG is selling its aircraft leasing business for about $5.4 billion to Dutch leasing company AerCap. AIG has been selling major assets after getting a bailout during the financial crisis. Its shares rose 55 cents, or 1 percent, to $50.28.

The Avago-LSI deal helped make tech stocks the biggest gainers among the 10 industries in the S&P 500. Others winners included computer hard drive makers Western Digital and Seagate, which benefited from analyst upgrades.

Of those 10 industries, only consumer staples fell.

Also Monday, the Federal Reserve said factory production accelerated in November as auto production surged. The gains in manufacturing could help boost economic growth.

Just last week, such positive reports made investors nervous. They feared the Fed would think the economy was doing so well that its $85 billion in monthly bond-buying was no longer needed.

The Fed will release a statement and projections for the economy Wednesday. Economists are almost unanimous in believing the Fed will not begin winding down its stimulus program yet.

This year's stock rally has been fueled by that stimulus, higher corporate earnings, and a slow but steady recovery in the U.S. economy. All of the big indexes are up more than 20 percent.

Karyn Cavanaugh, market strategist with ING U.S. Investment Management, said she doesn't expect such large returns next year — maybe more like 10 percent.

"But that's actually good for investor confidence," she said. "When they see these big huge numbers, I think they look at it with kind of a jaded eye and think, 'Is that really sustainable? Maybe it's already run its course so I want to get out.'"

Energy stocks rose, led by Tesoro, which runs refineries and gas stations. It was up $2.07, or 4 percent, at $58.37. Exxon Mobil rose $1.91, or 2 percent, to $97.22 after being upgraded by Goldman Sachs.


----------



## bigdog

Source: http://finance.yahoo.com 

Nobody wanted to stick their neck out on Tuesday.

The stock market edged slightly lower as the Federal Reserve started a two-day policy meeting that may herald the beginning of the end for its economic stimulus.

Few expect that the Fed will announce that it plans to pare back, or 'taper,' its huge bond-buying program after its meeting wraps up on Wednesday. However, good news on the U.S. economy this month, including a blockbuster jobs report, and a budget deal in Washington appeared to have increased the likelihood of a change.

"It's just the taper drama, that's really all the market seems focused on," said Dean Junkans, CIO for Wells Fargo Private Bank. "The chances of them doing something tomorrow are higher than they were a month ago."

Major stock indices fell, but just slightly. The Standard & Poor's 500 index eased five points, or 0.3 percent, to 1,781. The Dow Jones industrial average crept down nine points, or 0.1 percent, to 15,875.26. The Nasdaq composite edged lower by five points, or 0.1 percent, to 4,023. 68.

Eight of the ten industrial groups in the S&P 500 declined, led by phone companies. Materials stocks and technology companies edged higher.

A couple of big companies bucked the downward trend after pledging to hand more cash to stock holders.

Boeing rose $1.16, or 1 percent, to $135.88 after the plane maker increased its stock buyback program by $10 billion and raised its dividend 52 percent. 3M climbed $3.73, or 3 percent, to $131.39 after raising its dividend by 35 percent. The company also forecast solid earnings next year.

Stocks have surged this year as the Fed kept buying $85 billion in bonds every month to hold down long-term interest rates. As well as boosting the economy, that stimulus has made stocks a more attractive investment compared to bonds.

The only setbacks for the market this year have come when investors were nervous that the Fed was about to cut back its stimulus.

The S&P 500 index dropped 1.5 percent in June when Fed Chairman Ben Bernanke outlined a potential exit for the Fed from its stimulus strategy. The index fell 3.1 percent in August when investors thought that the policy would change in September.

Instead of worrying about the market's immediate reaction to the Fed's announcement on Wednesday, investors should focus on the positive backdrop for stocks, said Liz Ann Sonders, chief investment strategist at Charles Schwab.

The economy is improving, companies are investing more, and earnings are forecast to grow at a steady rate, ensuring there will be demand for stocks. 								

 *The NYSE DOW closed  	LOWER ▼	-9.31	points or ▼	-0.06%	on	Tuesday, 17 December 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15875.26	▼	-9.31	▼	-0.06%		
	Nasdaq___	4023.68	▼	-5.84	▼	-0.14%		
	S&P_500__	1781	▼	-5.54	▼	-0.31%		
	30_Yr_Bond	3.872	▼	-0.023	▼	-0.59%		

NYSE Volume	 3,272,286,750 	 	 	 	 	  		 
Nasdaq Volume	 1,843,054,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6486.19	▼	-36.01	▼	-0.55%		
	DAX_____	9085.12	▼	-78.44	▼	-0.86%		
	CAC_40__	4068.64	▼	-51.24	▼	-1.24%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	Shanghai_Comp	2151.08	▼	-9.78	▼	-0.45%		
	Taiwan_Weight	8352.93	▲	39.06	▲	0.47%		
	Nikkei_225____	15278.63	▲	125.72	▲	0.83%		
	Hang_Seng____	23069.23	▼	-45.43	▼	-0.20%		
	Strait_Times___	3067.57	▲	13.8	▲	0.45%		

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Stocks slip as Fed starts stimulus discussion

US stocks mostly lower as Federal Reserve discusses stimulus; Facebook hits all-time high*

By Steve Rothwell, AP Business Writer

Nobody wanted to stick their neck out on Tuesday.

The stock market edged slightly lower as the Federal Reserve started a two-day policy meeting that may herald the beginning of the end for its economic stimulus.

Few expect that the Fed will announce that it plans to pare back, or 'taper,' its huge bond-buying program after its meeting wraps up on Wednesday. However, good news on the U.S. economy this month, including a blockbuster jobs report, and a budget deal in Washington appeared to have increased the likelihood of a change.

"It's just the taper drama, that's really all the market seems focused on," said Dean Junkans, CIO for Wells Fargo Private Bank. "The chances of them doing something tomorrow are higher than they were a month ago."

Major stock indices fell, but just slightly. The Standard & Poor's 500 index eased five points, or 0.3 percent, to 1,781. The Dow Jones industrial average crept down nine points, or 0.1 percent, to 15,875.26. The Nasdaq composite edged lower by five points, or 0.1 percent, to 4,023. 68.

Eight of the ten industrial groups in the S&P 500 declined, led by phone companies. Materials stocks and technology companies edged higher.

A couple of big companies bucked the downward trend after pledging to hand more cash to stock holders.

Boeing rose $1.16, or 1 percent, to $135.88 after the plane maker increased its stock buyback program by $10 billion and raised its dividend 52 percent. 3M climbed $3.73, or 3 percent, to $131.39 after raising its dividend by 35 percent. The company also forecast solid earnings next year.

Stocks have surged this year as the Fed kept buying $85 billion in bonds every month to hold down long-term interest rates. As well as boosting the economy, that stimulus has made stocks a more attractive investment compared to bonds.

The only setbacks for the market this year have come when investors were nervous that the Fed was about to cut back its stimulus.

The S&P 500 index dropped 1.5 percent in June when Fed Chairman Ben Bernanke outlined a potential exit for the Fed from its stimulus strategy. The index fell 3.1 percent in August when investors thought that the policy would change in September.

Instead of worrying about the market's immediate reaction to the Fed's announcement on Wednesday, investors should focus on the positive backdrop for stocks, said Liz Ann Sonders, chief investment strategist at Charles Schwab.

The economy is improving, companies are investing more, and earnings are forecast to grow at a steady rate, ensuring there will be demand for stocks.

"Dips that we get are not going to be terribly severe," Sonders said.

In government bond trading, the yield on the 10-year Treasury note dropped to 2.84 percent, from 2.88 percent on Monday, as investors bought bonds on a day when the government said consumer prices remained flat. When prices rise, a trend known as inflation, the value of bonds falls.

In commodities trading, the price of gold fell $14.30, or 1 percent, to $1,230 an ounce. Oil dropped 26 cents, or 0.3 percent, to $97.22 a barrel.

Among other trends in the market:

NEW FRONTIER: Frontier Communications rose the most in the S&P 500. The stock jumped 47 cents, or 8.6 percent, to $4.78 after it reached a deal to acquire AT&T's fixed-line business in Connecticut for about $2 billion.

'LIKE' THAT HIGH: Facebook rose to an all-time high after the social media company said that it's testing video advertisements, creating a potential source of ad revenue. The company's stock ended the day up $1.05, or 2 percent, at $54.86, after peaking at a record $55.18.

NOSEDIVE: Delta Air Lines fell the most in the S&P 500, dropping 98 cents, or 3.5 percent, to $26.94.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market had a swift and clear reaction to the Federal Reserve's decision to trim its stimulus efforts: This wasn't so bad after all.

Stocks surged Wednesday, lifting the Dow Jones industrial average nearly 300 points, after the Fed decided it was time to start modestly scaling back its program to boost America's growth and stock market. The central bank cited a stronger jobs market and improving economy.

Stock investors had long anticipated the Fed would pull back at some point, but did not think it would happen until next year. Despite the surprise, investors took the central bank's decision Wednesday as a sign that that the stock market was strong enough to keep soaring, even with less rocket fuel from the Fed.

"Investors should see this as a vote of confidence for the economy," said Kristina Hooper, head of U.S. investment strategies for Allianz Global Investors

The Dow jumped 292 points, or nearly 2 percent, to 16,167.97 ”” another all-time high for the blue-chip index. Shortly before the Fed announcement at 2 p.m., the Dow was up just 47 points.

The broader Standard & Poor's 500 index rose 29 points, also 2 percent, to 1,810.65 and the Nasdaq composite rose 46 points, or 1 percent, to 4,070.06.

The rally adds to what has already been a historic run for stocks. The S&P 500 is up nearly 27 percent, its best yearly performance since the dot-com boom of the late 1990s.

The Fed's decision removes a huge amount of uncertainty for investors, something they hate. The fate of the stimulus program had hung over investors' heads since May. Now that investors have an outline for how the Fed will pull back, investors can move forward.

"The Fed believed the market could handle it," said Art Steinmetz, president and chief investment officer at OppenheimerFunds.

With no economic downturn on the horizon, stocks are expected to continue their rise in 2014, with market strategists predicting gains of 6 percent to 8 percent from current levels.

Starting in January, the Fed will reduce its bond-buying program to $75 billion a month from $85 billion now. The so-called tapering will be the first step toward winding down a program that has been in place, in one form or another, since the financial crisis.

By purchasing bonds and depressing yields, the Fed has kept interest rates low and encouraged borrowing and lending. But all that buying has also led investors to shift money into stocks. That's because the Fed's purchases made bond prices artificially more expensive in comparison to stocks.

The program has given the Fed a big role in the current bull market. The S&P 500 index has surged about 26 percent since the Fed announced a year ago that it would buy the $85 billion in bonds each month. And since the central bank's first round of bond buying at the end of 2008, stocks have soared about 124 percent.

In the last month, as signs emerged of that hiring was picking up, the housing market was improving and manufacturing was strengthening, investors grew more confident that markets could gain traction without stimulus.

The Fed also said Wednesday it is likely to keep cutting its bond purchases. Fed Chairman Ben Bernanke, who is nearing the end of his tenure, said the bank will likely vote for "measured reductions" in upcoming meetings, as long as the economy shows improvement. 								

 *The NYSE DOW closed  	HIGHER ▲	292.71	points or ▲	1.84%	on	Wednesday, 18 December 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16167.97	▲	292.71	▲	1.84%		
	Nasdaq___	4070.06	▲	46.38	▲	1.15%		
	S&P_500__	1810.65	▲	29.65	▲	1.66%		
	30_Yr_Bond	3.913	▲	0.041	▲	1.06%		

NYSE Volume	 4,299,708,000 	 	 	 	 	  		 
Nasdaq Volume	 2,163,797,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6492.08	▲	5.89	▲	0.09%		
	DAX_____	9181.75	▲	96.63	▲	1.06%		
	CAC_40__	4109.51	▲	40.87	▲	1.00%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5099.3	▼	-6.8	▼	-0.13%		
	Shanghai_Comp	2148.29	▼	-2.79	▼	-0.13%		
	Taiwan_Weight	8349.04	▼	-3.89	▼	-0.05%		
	Nikkei_225____	15587.8	▲	309.17	▲	2.02%		
	Hang_Seng____	23143.82	▲	74.59	▲	0.32%		
	Strait_Times___	3061.78	▼	-5.79	▼	-0.19%		
	NZX_50_Index__	4675.88	▼	-52.14	▼	-1.10%		

http://finance.yahoo.com/news/stocks-soar-fed-cuts-stimulus-202654488.html

*Stocks soar as Fed cuts stimulus, citing jobs

Stocks surge as investors see Fed decision to cut stimulus as vote of confidence for economy*

By Ken Sweet, AP Markets Writer 

The stock market had a swift and clear reaction to the Federal Reserve's decision to trim its stimulus efforts: This wasn't so bad after all.

Stocks surged Wednesday, lifting the Dow Jones industrial average nearly 300 points, after the Fed decided it was time to start modestly scaling back its program to boost America's growth and stock market. The central bank cited a stronger jobs market and improving economy.

Stock investors had long anticipated the Fed would pull back at some point, but did not think it would happen until next year. Despite the surprise, investors took the central bank's decision Wednesday as a sign that that the stock market was strong enough to keep soaring, even with less rocket fuel from the Fed.

"Investors should see this as a vote of confidence for the economy," said Kristina Hooper, head of U.S. investment strategies for Allianz Global Investors

The Dow jumped 292 points, or nearly 2 percent, to 16,167.97 ”” another all-time high for the blue-chip index. Shortly before the Fed announcement at 2 p.m., the Dow was up just 47 points.

The broader Standard & Poor's 500 index rose 29 points, also 2 percent, to 1,810.65 and the Nasdaq composite rose 46 points, or 1 percent, to 4,070.06.

The rally adds to what has already been a historic run for stocks. The S&P 500 is up nearly 27 percent, its best yearly performance since the dot-com boom of the late 1990s.

The Fed's decision removes a huge amount of uncertainty for investors, something they hate. The fate of the stimulus program had hung over investors' heads since May. Now that investors have an outline for how the Fed will pull back, investors can move forward.

"The Fed believed the market could handle it," said Art Steinmetz, president and chief investment officer at OppenheimerFunds.

With no economic downturn on the horizon, stocks are expected to continue their rise in 2014, with market strategists predicting gains of 6 percent to 8 percent from current levels.

Starting in January, the Fed will reduce its bond-buying program to $75 billion a month from $85 billion now. The so-called tapering will be the first step toward winding down a program that has been in place, in one form or another, since the financial crisis.

By purchasing bonds and depressing yields, the Fed has kept interest rates low and encouraged borrowing and lending. But all that buying has also led investors to shift money into stocks. That's because the Fed's purchases made bond prices artificially more expensive in comparison to stocks.

The program has given the Fed a big role in the current bull market. The S&P 500 index has surged about 26 percent since the Fed announced a year ago that it would buy the $85 billion in bonds each month. And since the central bank's first round of bond buying at the end of 2008, stocks have soared about 124 percent.

In the last month, as signs emerged of that hiring was picking up, the housing market was improving and manufacturing was strengthening, investors grew more confident that markets could gain traction without stimulus.

The Fed also said Wednesday it is likely to keep cutting its bond purchases. Fed Chairman Ben Bernanke, who is nearing the end of his tenure, said the bank will likely vote for "measured reductions" in upcoming meetings, as long as the economy shows improvement.

Bernanke also said Janet Yellen, who becomes Fed chairwoman once she is confirmed by the Senate, "fully supports" the bank's decision to start reducing the stimulus.

Wednesday's pullback was a surprise to the market, as most strategists and economists expected the Fed to wait until March before pulling back. But investors say it is a welcome surprise.

"We finally have something in motion," said Frank Davis, director of trading at LEK Securities "and we have details on how it's going to work, so it's something the market can embrace."


----------



## bigdog

Source: http://finance.yahoo.com 

U.S. stock indexes ended up pretty much where they started on Thursday, a day after a powerful surge.

Stocks gained the most in more than two months Wednesday after the Federal Reserve said it would reduce its bond-buying program to $75 billion a month from $85 billion. Investors saw the decision as a vote of confidence in the economy.

"It's good for the economy, and it's good for the market, to start standing on its own two feet," said Natalie Trunow, chief investment officer for stocks at Calvert Investments.

Financial markets were still digesting the Fed's move on Thursday. While stocks were holding close to record levels, Treasury yields climbed, the dollar rose and gold slumped to its lowest in more than three years.

Major U.S. stock indexes started the day lower, moved gradually higher throughout the day and closed essentially flat.

The Standard & Poor's 500 index fell 1.05 points, or 0.06 percent, to 1,809.60. The Dow Jones industrial average rose 11.11 points, or 0.07 percent, to 16,179.08. It rose 293 points the day before. The Nasdaq composite fell 11.93 points, or 0.3 percent, to 4,058.13.

Target fell $1.40, or 2.2 percent, to $62.15 after the company said that about 40 million credit and debit card accounts may have been compromised by a data breach that happened just as shoppers flooded into stores for Black Friday, the day after Thanksgiving.

Facebook declined 52 cents, or 0.9 percent, to $55.05 after the company said it will sell 70 million shares, more than half of them from CEO Mark Zuckerberg.

The S&P 500 is up 0.2 percent for the month after moving into the green for the first time in December on Wednesday. If the gains hold, the index will have advanced for 10 of the 12 months this year.

Stock have surged this year as the Fed has kept up its economic stimulus and held down long-term interest rates. Stock prices have also been supported by growing corporate earnings and a gradually strengthening economy.

Investors were happy to get more reassurance Wednesday from the Fed that interest rates would stay low after the bond-buying stimulus was removed, said Eric Weigand, a senior portfolio manager at U.S. Bank.

The moderate pace of the reduction in the Fed's bond purchases was also encouraging. "It was not too hot and not too cold," Weigand said. 								

 *The NYSE DOW closed  	HIGHER ▲	11.11	points or ▲	0.07%	on	Thursday, 19 December 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16179.08	▲	11.11	▲	0.07%		
	Nasdaq___	4058.13	▼	-11.93	▼	-0.29%		
	S&P_500__	1809.6	▼	-1.05	▼	-0.06%		
	30_Yr_Bond	3.901	▼	-0.012	▼	-0.31%		

NYSE Volume	 3,477,609,250 	 	 	 	 	  		 
Nasdaq Volume	 1,792,403,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6584.7	▲	92.62	▲	1.43%		
	DAX_____	9335.74	▲	153.99	▲	1.68%		
	CAC_40__	4177.03	▲	67.52	▲	1.64%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5202	▲	102.7	▲	2.01%		
	Shanghai_Comp	2127.79	▼	-20.49	▼	-0.95%		
	Taiwan_Weight	8407.4	▲	58.36	▲	0.70%		
	Nikkei_225____	15859.22	▲	271.42	▲	1.74%		
	Hang_Seng____	22888.75	▼	-255.07	▼	-1.10%		
	Strait_Times___	3070.23	▲	8.45	▲	0.28%		
	NZX_50_Index__	4707.06	▲	31.18	▲	0.67%		

http://finance.yahoo.com/news/stocks-pause-wall-street-day-220416231.html

*Stocks pause on Wall Street a day after a surge

Stocks pause on Wall Street a day after a surge; Facebook declines as Zuckerberg sells*

By Steve Rothwell, AP Business Writer 

 U.S. stock indexes ended up pretty much where they started on Thursday, a day after a powerful surge.

Stocks gained the most in more than two months Wednesday after the Federal Reserve said it would reduce its bond-buying program to $75 billion a month from $85 billion. Investors saw the decision as a vote of confidence in the economy.

"It's good for the economy, and it's good for the market, to start standing on its own two feet," said Natalie Trunow, chief investment officer for stocks at Calvert Investments.

Financial markets were still digesting the Fed's move on Thursday. While stocks were holding close to record levels, Treasury yields climbed, the dollar rose and gold slumped to its lowest in more than three years.

Major U.S. stock indexes started the day lower, moved gradually higher throughout the day and closed essentially flat.

The Standard & Poor's 500 index fell 1.05 points, or 0.06 percent, to 1,809.60. The Dow Jones industrial average rose 11.11 points, or 0.07 percent, to 16,179.08. It rose 293 points the day before. The Nasdaq composite fell 11.93 points, or 0.3 percent, to 4,058.13.

Target fell $1.40, or 2.2 percent, to $62.15 after the company said that about 40 million credit and debit card accounts may have been compromised by a data breach that happened just as shoppers flooded into stores for Black Friday, the day after Thanksgiving.

Facebook declined 52 cents, or 0.9 percent, to $55.05 after the company said it will sell 70 million shares, more than half of them from CEO Mark Zuckerberg.

The S&P 500 is up 0.2 percent for the month after moving into the green for the first time in December on Wednesday. If the gains hold, the index will have advanced for 10 of the 12 months this year.

Stock have surged this year as the Fed has kept up its economic stimulus and held down long-term interest rates. Stock prices have also been supported by growing corporate earnings and a gradually strengthening economy.

Investors were happy to get more reassurance Wednesday from the Fed that interest rates would stay low after the bond-buying stimulus was removed, said Eric Weigand, a senior portfolio manager at U.S. Bank.

The moderate pace of the reduction in the Fed's bond purchases was also encouraging. "It was not too hot and not too cold," Weigand said.

In government bond trading, the yield on the 10-year Treasury note rose to 2.93 percent from 2.89 percent late Wednesday. The yield climbs when bond prices fall. Demand for bonds was lower Thursday as traders anticipated less buying from the Fed.

The rise in yields also hit the stocks of power companies.

Utilities companies fell the most of the 10 industry sectors that make up the S&P 500. Investors buy utility stocks because they pay big dividends. As bond yields rise, those stocks become less attractive.

The price of gold dropped $41.40, or 3.4 percent, to close at $1,193.60 an ounce. Gold hadn't settled below $1,200 an ounce in more than three years.

Investors are dumping their holdings of gold because interest rates are rising and the dollar is gaining after the Fed said it would pare back its bond purchases. Traders are selling gold because they see less risk of inflation from the Fed's stimulus program.

Among other stocks making big moves:

”” Oracle jumped $2, or 6 percent, $36.60 after its earnings beat Wall Street forecasts. The business software maker earned $2.55 billion, or 56 cents per share. Revenue rose 2 percent to $9.28 billion from $9.09 billion.

”” Darden Restaurants slumped $1.90, or 4 percent, to $51.02 after the restaurant company said it will spin off its Red Lobster chain and not open any new Olive Gardens.


----------



## bigdog

Source: http://finance.yahoo.com 

An unexpectedly strong report on U.S. economic growth pushed stocks higher Friday, capping off Wall Street's best week in three months.

The report, which showed the U.S. economy grew at a healthy 4.1 percent annual pace between July and September, is the latest positive piece of economic data investors have gotten in recent weeks.

"It's a fantastic signal that we're getting robust growth and it looks like it might be accelerating," said Jack Ablin, chief investment officer for BMO Private Bank in Chicago, which oversees $66 billion.

On Friday, the Dow Jones Industrial average rose 42.06 points, or 0.3 percent, to 16,221.14. The index ended the week up 3 percent, its biggest gain since the week of Sept. 13.

The Standard & Poor's 500 index rose 8.71 points, or 0.5 percent, to 1,818.31 and the Nasdaq composite added 46.61 points, or 1.2 percent, to 4,104.74. Both indexes ended the week up roughly 2.5 percent.

In a sign that investors have a strong appetite for risk, the Russell 2000 index, an index made up mostly of smaller, high-growth companies, closed up nearly 2 percent Friday to 1,146.47.

The bulk of this week's gains came Wednesday, after the Federal Reserve announced it was going to pull back on its economic stimulus program. The Fed said it would reduce its bond-buying program to $75 billion a month from $85 billion a month.

Investors cheered the surprise decision, sending the Dow up nearly 300 points Wednesday.

"They had to get out of the way," said Quincy Krosby, market strategist with Prudential Financial. "The more the market obsessed about when the Fed was going to pull back, the more the market couldn't focus on anything else, like the improving economy."

Friday's gross domestic product estimate was the latest report to show unexpected strength in the U.S. economy. The 4.1 percent annualized growth rate is the fastest since 2011. More importantly, most of the increase came from consumer spending, a key part of the U.S. economy.

In other markets, the yield on the benchmark U.S. 10-year Treasury note fell to 2.89 percent, from 2.93 percent the day before. Gold rose $10.10, or 0.8 percent, to $1,203.70 an ounce								

 *The NYSE DOW closed  	HIGHER ▲	42.06	points or ▲	0.26%	on	Friday, 20 December 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16221.14	▲	42.06	▲	0.26%		
	Nasdaq___	4104.74	▲	46.61	▲	1.15%		
	S&P_500__	1818.32	▲	8.72	▲	0.48%		
	30_Yr_Bond	3.824	▼	-0.077	▼	-1.97%		

NYSE Volume	 4,948,928,000 	 	 	 	 	  		 
Nasdaq Volume	 3,187,341,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6606.58	▲	21.88	▲	0.33%		
	DAX_____	9400.18	▲	64.44	▲	0.69%		
	CAC_40__	4193.77	▲	16.74	▲	0.40%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5261.5	▲	59.5	▲	1.14%		
	Shanghai_Comp	2084.79	▼	-43	▼	-2.02%		
	Taiwan_Weight	8408.53	▲	1.13	▲	0.01%		
	Nikkei_225____	15870.42	▲	11.2	▲	0.07%		
	Hang_Seng____	22812.18	▼	-76.57	▼	-0.33%		
	Strait_Times___	3094.48	▲	24.25	▲	0.79%		
	NZX_50_Index__	4681.19	▼	-25.87	▼	-0.55%		

http://finance.yahoo.com/news/stocks-rise-strong-us-economic-192544849.html

*Stocks rise on strong US economic growth

Stocks higher after US raises estimate for third-quarter economic growth to 4.1 percent*

By Ken Sweet, AP Markets Writer 

An unexpectedly strong report on U.S. economic growth pushed stocks higher Friday, capping off Wall Street's best week in three months.

The report, which showed the U.S. economy grew at a healthy 4.1 percent annual pace between July and September, is the latest positive piece of economic data investors have gotten in recent weeks.

"It's a fantastic signal that we're getting robust growth and it looks like it might be accelerating," said Jack Ablin, chief investment officer for BMO Private Bank in Chicago, which oversees $66 billion.

On Friday, the Dow Jones Industrial average rose 42.06 points, or 0.3 percent, to 16,221.14. The index ended the week up 3 percent, its biggest gain since the week of Sept. 13.

The Standard & Poor's 500 index rose 8.71 points, or 0.5 percent, to 1,818.31 and the Nasdaq composite added 46.61 points, or 1.2 percent, to 4,104.74. Both indexes ended the week up roughly 2.5 percent.

In a sign that investors have a strong appetite for risk, the Russell 2000 index, an index made up mostly of smaller, high-growth companies, closed up nearly 2 percent Friday to 1,146.47.

The bulk of this week's gains came Wednesday, after the Federal Reserve announced it was going to pull back on its economic stimulus program. The Fed said it would reduce its bond-buying program to $75 billion a month from $85 billion a month.

Investors cheered the surprise decision, sending the Dow up nearly 300 points Wednesday.

"They had to get out of the way," said Quincy Krosby, market strategist with Prudential Financial. "The more the market obsessed about when the Fed was going to pull back, the more the market couldn't focus on anything else, like the improving economy."

Friday's gross domestic product estimate was the latest report to show unexpected strength in the U.S. economy. The 4.1 percent annualized growth rate is the fastest since 2011. More importantly, most of the increase came from consumer spending, a key part of the U.S. economy.

In other markets, the yield on the benchmark U.S. 10-year Treasury note fell to 2.89 percent, from 2.93 percent the day before. Gold rose $10.10, or 0.8 percent, to $1,203.70 an ounce.

In company news:

— Blackberry jumped 97 cents, or 16 percent, to $7.22. The struggling smartphone maker posted a $4.4 billion loss but also said it would outsource its hardware business to focus on software and services.

— Red Hat, an open-source software developer, jumped $7.10, or 15 percent, to $56.10, one of the biggest increases in the S&P 500 index. Red Hat's adjusted earnings came in well ahead of Wall Street's estimates.

9412


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks rose in quiet trading Monday as investors start to close the books on 2013.

Apple helped lift technology stocks after the company reached a deal to sell the iPhone to China's largest wireless carrier.

The market has been moving broadly higher since last Wednesday, when the Federal Reserve said it will start pulling back on its stimulus program next month as the U.S. economy improves. Last week the government also raised its estimate for third-quarter economic growth to 4.1 percent, the fastest pace since 2011.

"Everything is going in the right direction," said Rob Stein, chief executive officer of Chicago-based Astor Investment Management.

The Dow Jones industrial average rose 73.47 points, or 0.5 percent, to 16,294.61. The Standard & Poor's 500 index was up 9.67 points, or 0.5 percent, to 1,827.99. The Nasdaq composite rose 44.16 points, or 1.1 percent, to 4,148.90.

Apple rose $21.07, or 4 percent, to $570.09 after the company reached a deal with China Mobile, the world's largest cell phone provider, to sell the iPhone in the world's most populous country. The iPhone is already sold through two smaller carriers there. Technology stocks in the S&P 500 rose 1.5 percent, more than twice as much as the broader index.

Trading was very light ahead of the Christmas holiday. Just 2.8 billion shares were traded on the New York Stock Exchange, well below the recent average of 3.4 billion.

Both the New York Stock Exchange and the Nasdaq Stock Market will be closed Wednesday for Christmas. Both exchanges will also close at 1 p.m. Eastern on Tuesday for Christmas Eve.

The market is heading for its best year in more than a decade. The S&P 500 index has increased 28 percent so far this year ”” 30 percent when dividends are included ”” putting it on track for its biggest annual gain since 1997.

"People want to hold on to these gains, so no one is going to take any undue risks this close to the end of the year," said Stephen Carl, head equity trader at Williams Capital. The next two weeks, with Christmas and New Year's Day both falling in the middle of the work week, will likely have light trading, he said.			

 *The NYSE DOW closed  	HIGHER ▲	73.47	points or ▲	0.45%	on	Monday, 23 December 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16294.61	▲	73.47	▲	0.45%		
	Nasdaq___	4148.9	▲	44.16	▲	1.08%		
	S&P_500__	1827.99	▲	9.67	▲	0.53%		
	30_Yr_Bond	3.844	▲	0.02	▲	0.52%		

NYSE Volume	 2,828,163,250 	 	 	 	 	  		 
Nasdaq Volume	 1,765,143,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6678.61	▲	72.03	▲	1.09%		
	DAX_____	9488.82	▲	88.64	▲	0.94%		
	CAC_40__	4215.29	▲	21.52	▲	0.51%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5291.5	▲	30	▲	0.57%		
	Shanghai_Comp	2089.71	▲	4.91	▲	0.24%		
	Taiwan_Weight	8456.46	▲	47.93	▲	0.57%		
	Nikkei_225____	15870.42	▲	11.2	▲	0.07%		
	Hang_Seng____	22921.56	▲	109.38	▲	0.48%		
	Strait_Times___	3116.22	▲	21.74	▲	0.70%		
	NZX_50_Index__	4722.63	▲	41.44	▲	0.89%		

http://finance.yahoo.com/news/apple-other-tech-stocks-lift-214116643.html

*Apple, other tech stocks lift the broader market

Technology stocks lead a broad advance on Wall Street; Trading is quiet ahead of Christmas
*
By Ken Sweet, AP Markets Writer 

Stocks rose in quiet trading Monday as investors start to close the books on 2013.

Apple helped lift technology stocks after the company reached a deal to sell the iPhone to China's largest wireless carrier.

The market has been moving broadly higher since last Wednesday, when the Federal Reserve said it will start pulling back on its stimulus program next month as the U.S. economy improves. Last week the government also raised its estimate for third-quarter economic growth to 4.1 percent, the fastest pace since 2011.

"Everything is going in the right direction," said Rob Stein, chief executive officer of Chicago-based Astor Investment Management.

The Dow Jones industrial average rose 73.47 points, or 0.5 percent, to 16,294.61. The Standard & Poor's 500 index was up 9.67 points, or 0.5 percent, to 1,827.99. The Nasdaq composite rose 44.16 points, or 1.1 percent, to 4,148.90.

Apple rose $21.07, or 4 percent, to $570.09 after the company reached a deal with China Mobile, the world's largest cell phone provider, to sell the iPhone in the world's most populous country. The iPhone is already sold through two smaller carriers there. Technology stocks in the S&P 500 rose 1.5 percent, more than twice as much as the broader index.

Trading was very light ahead of the Christmas holiday. Just 2.8 billion shares were traded on the New York Stock Exchange, well below the recent average of 3.4 billion.

Both the New York Stock Exchange and the Nasdaq Stock Market will be closed Wednesday for Christmas. Both exchanges will also close at 1 p.m. Eastern on Tuesday for Christmas Eve.

The market is heading for its best year in more than a decade. The S&P 500 index has increased 28 percent so far this year ”” 30 percent when dividends are included ”” putting it on track for its biggest annual gain since 1997.

"People want to hold on to these gains, so no one is going to take any undue risks this close to the end of the year," said Stephen Carl, head equity trader at Williams Capital. The next two weeks, with Christmas and New Year's Day both falling in the middle of the work week, will likely have light trading, he said.

In other economic news, consumer spending rose 0.5 percent in November, the most since June. Those are closely watched figures, especially leading up to the holiday season.

Retailer Jos. A. Bank rejected a $1.5 billion buyout offer from Men's Wearhouse on Monday. The rivals have made offers to buy each other in recent months, only to be rejected by the other party. Jos. A. Bank fell 74 cents, or 1.3 percent, to $56.29 and Men's Wearhouse fell 38 cents, or 0.7 percent, to $51.63.

Facebook rose $2.65, or 5 percent, to $57.77. The social network was added to the S&P 500 effective Monday. Fund managers who replicate indexes like the S&P 500 are required to purchase stocks in a company when it's added.

Target fell 61 cents, or 1 percent, to $61.88 after The Wall Street Journal reported that sales fell 3 percent to 4 percent in last weekend before Christmas. Target is dealing with a massive breach of security in credit and debit card data.

Bond prices fell slightly. The yield on the 10-year Treasury note rose to 2.93 percent from 2.89 percent.

Gold fell $6.70, or 0.6 percent, to $1,197 an ounce. Gold has slumped 29 percent this year and is headed for its first annual loss since 2000. Traders have dumped gold as the fear that the Federal Reserve's easy-money policies would cause inflation dissipated.


----------



## bigdog

Source: http://finance.yahoo.com 

Both the New York Stock Exchange and the Nasdaq Stock Market will be closed Wednesday for Christmas.							

Stocks rose in a holiday-shortened trading day Tuesday, helped by a report that showed American companies were investing in their businesses at the fastest pace since January.

Markets were open for just half a day ahead of the Christmas holiday, and trading volume was extremely light. Roughly 1.3 billion shares changed hands on the New York Stock Exchange, a third of what is traded on a regular day. It was the slowest day of the year.

Materials and industrial stocks rose more than the rest of the market after the government reported that orders for long-lasting manufactured products rose 3.5 percent in November, more than economists expected. Core capital goods, a category that tracks business investment, jumped 4.5 percent, the biggest gain since January.

DuPont rose $1.09, or 2 percent, to $63.83 and construction equipment maker Caterpillar gained 95 cents, or 1 percent, to $90.91.

The Dow Jones industrial average rose 62.94 points, or 0.4 percent, to 16,357.55. The Standard & Poor's 500 index rose 5.33 points, or 0.3 percent, to 1,833.32 and the Nasdaq composite rose 6.51 points, or 0.2 percent, to 4,155.42.

Stocks have been rising steadily since last Wednesday, when the Federal Reserve surprised investors by announcing it was cutting back its bond-buying program, citing an improving economy. The Fed said it will reduce its bond purchases to $75 billion a month beginning in January, down from $85 billion.

The last five days of gains have added to what has been a historic year for stock market investors. The S&P 500 index is up 28.6 percent for 2013, or 30.9 when dividends are included, its best year since 1997.

With four trading days left in the year, many traders expect stocks to continue higher until New Year's Eve.

"Nothing has derailed this market this year, even with all the bad headlines of 2013," said Jonathan Corpina, a New York Stock Exchange floor trader with Meridian Equity Partners. "We still have end-of-the-year cash coming in."

Few investors expect stocks to continue to rise at this pace through 2014. On average, market strategists with the major investment banks expect the S&P 500 to rise to 1,900 by the end of 2014, barely above where the index is trading at now.

"It's basically been a straight line up for the last couple years and, as the saying goes, the bigger they are the harder they fall," said Uri Landesman, president of the hedge fund Platinum Partners. Landesman said he also expects 2014 to more volatile for the stock market.								

 *The NYSE DOW closed  	HIGHER ▲	62.94	points or ▲	0.39%	on	Tuesday, 24 December 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16357.55	▲	62.94	▲	0.39%		
	Nasdaq___	4155.42	▲	6.51	▲	0.16%		
	S&P_500__	1833.32	▲	5.33	▲	0.29%		
	30_Yr_Bond	3.9	▲	0.06	▲	1.48%		

NYSE Volume	 1,305,443,500 	 	 	 	 	  		 
Nasdaq Volume	 803,528,560 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6694.17	▲	15.56	▲	0.23%		
	DAX_____	9488.82	▲	88.64	▲	0.94%		
	CAC_40__	4218.41	▲	3.12	▲	0.07%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5325.4	▲	33.9	▲	0.64%		
	Shanghai_Comp	2092.91	▲	3.2	▲	0.15%		
	Taiwan_Weight	8450.49	▼	-5.97	▼	-0.07%		
	Nikkei_225____	15889.33	▲	18.91	▲	0.12%		
	Hang_Seng____	23179.55	▲	257.99	▲	1.13%		
	Strait_Times___	3127.29	▲	11.07	▲	0.36%		
	NZX_50_Index__	4767.94	▲	45.3	▲	0.96%		

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Stocks end on a high note before Christmas

Stocks rise in a holiday-shortened session, helped by a big increase in durable goods orders*

By KEN SWEET

Stocks rose in a holiday-shortened trading day Tuesday, helped by a report that showed American companies were investing in their businesses at the fastest pace since January.

Markets were open for just half a day ahead of the Christmas holiday, and trading volume was extremely light. Roughly 1.3 billion shares changed hands on the New York Stock Exchange, a third of what is traded on a regular day. It was the slowest day of the year.

Materials and industrial stocks rose more than the rest of the market after the government reported that orders for long-lasting manufactured products rose 3.5 percent in November, more than economists expected. Core capital goods, a category that tracks business investment, jumped 4.5 percent, the biggest gain since January.

DuPont rose $1.09, or 2 percent, to $63.83 and construction equipment maker Caterpillar gained 95 cents, or 1 percent, to $90.91.

The Dow Jones industrial average rose 62.94 points, or 0.4 percent, to 16,357.55. The Standard & Poor's 500 index rose 5.33 points, or 0.3 percent, to 1,833.32 and the Nasdaq composite rose 6.51 points, or 0.2 percent, to 4,155.42.

Stocks have been rising steadily since last Wednesday, when the Federal Reserve surprised investors by announcing it was cutting back its bond-buying program, citing an improving economy. The Fed said it will reduce its bond purchases to $75 billion a month beginning in January, down from $85 billion.

The last five days of gains have added to what has been a historic year for stock market investors. The S&P 500 index is up 28.6 percent for 2013, or 30.9 when dividends are included, its best year since 1997.

With four trading days left in the year, many traders expect stocks to continue higher until New Year's Eve.

"Nothing has derailed this market this year, even with all the bad headlines of 2013," said Jonathan Corpina, a New York Stock Exchange floor trader with Meridian Equity Partners. "We still have end-of-the-year cash coming in."

Few investors expect stocks to continue to rise at this pace through 2014. On average, market strategists with the major investment banks expect the S&P 500 to rise to 1,900 by the end of 2014, barely above where the index is trading at now.

"It's basically been a straight line up for the last couple years and, as the saying goes, the bigger they are the harder they fall," said Uri Landesman, president of the hedge fund Platinum Partners. Landesman said he also expects 2014 to more volatile for the stock market.

Homebuilder stocks rose after the government reported that new home sales rose at a faster pace than analysts were expecting last month. Beazer Homes rose 62 cents, or 3 percent, to $24.03 and D.R. Horton rose 16 cents, or 0.8 percent, to $21.29.

Bond prices fell on the latest positive news on the U.S. economy. The yield on the 10-year Treasury note, a benchmark for many kinds of loans including home mortgages, rose to 2.99 percent from 2.93 percent the day before.

In other corporate news, Tesla Motors jumped $7.70, or 5 percent, to $151.25. The National Highway Traffic Safety Administration kept its 5-star safety rating on the company's Model S sedan, despite recent reports of battery-related fires. There have been no reported injuries or deaths related to any Tesla car fires.


----------



## CanOz

Merry Christmas Big Dog, thanks for your great efforts again this year. You are certainly one of the most reliable members of ASF!

All the best for the New Year!

CanOz


----------



## Joe Blow

CanOz said:


> Merry Christmas Big Dog, thanks for your great efforts again this year. You are certainly one of the most reliable members of ASF!




Agreed. Merry Christmas bigdog and thanks for your efforts! Your daily update to this thread is now as much a part of my morning as my two cups of coffee.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market continued its upward climb Thursday as traders went back to work after the Christmas holiday, adding to what has already been a historic year for the market.

Traders were encouraged by an unexpectedly large drop in claims for unemployment benefits last week, the latest sign that the U.S. job market is improving. Trading volume was very low, however, as most portfolio managers have closed out their positions for the year

The yield on the 10-year Treasury note, a benchmark for many kinds of loans, briefly crossed above the psychologically important 3 percent mark. It hasn't been that high since September.

The Dow Jones industrial average rose 122.33 points, or 0.8 percent, to 16,479.88. It was the 50th record high close for the Dow this year. The index is up 25.8 percent so far in 2013, on pace to have its best year since 1996.

The Standard & Poor's 500 index rose 8.70 points, or 0.5 percent, to 1,842.02 and the Nasdaq composite was up 11.76 points, or 0.3 percent, to 4,167.18. With Thursday's gains, the S&P 500 is up 29.2 percent for the year, or 31.3 percent when dividends are included. The S&P is on track for its best year since 1997.

Bond prices fell, pushing the yield on the 10-year Treasury note to 2.99 percent from 2.98 percent Tuesday. The note briefly traded above 3 percent.

Yields have been climbing since late November as economic reports have suggested that the U.S. recovery is gaining momentum. The increase accelerated last week after the Federal Reserve announced it was cutting back on its bond-buying program. The yield last touched 3 percent in September. It hasn't been consistently above 3 percent since July 2011. 								

 *The NYSE DOW closed  	HIGHER ▲	122.24	points or ▲	0.75%	on	Thursday, 26 December 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16479.79	▲	122.24	▲	0.75%		
	Nasdaq___	4168.44	▲	13.02	▲	0.31%		
	S&P_500__	1842.45	▲	9.13	▲	0.50%		
	30_Yr_Bond	3.92	▲	0.02	▲	0.51%		

NYSE Volume	 1,492,349,750 	 	 	 	 	  		 
Nasdaq Volume	 917,371,810 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6694.17	▲	15.56	▲	0.23%		 * holiday Dec 26*
	DAX_____	9488.82	▲	88.64	▲	0.94%		 * holiday Dec 26*
	CAC_40__	4218.41	▲	3.12	▲	0.07%		 * holiday Dec 26*

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5325.4	▲	33.9	▲	0.64%		* holiday Dec 26*
	Shanghai_Comp	2073.1	▼	-33.25	▼	-1.58%		
	Taiwan_Weight	8485.89	▲	18.13	▲	0.21%		
	Nikkei_225____	16174.44	▲	164.45	▲	1.03%		
	Hang_Seng____	23179.55	▲	257.99	▲	1.13%		 * holiday Dec 26*
	Strait_Times___	3134.36	▲	7.07	▲	0.23%		
	NZX_50_Index__	4767.94	▲	45.3	▲	0.96%		 * holiday Dec 26*

http://finance.yahoo.com/news/stocks-job-market-news-bond-171408256.html

*Stocks up on job market news; Bond yields rise

Unexpectedly big drop in unemployment claims sends stocks higher; 10-year yield hits 3 percent*

By Ken Sweet, AP Markets Writer 

The stock market continued its upward climb Thursday as traders went back to work after the Christmas holiday, adding to what has already been a historic year for the market.

Traders were encouraged by an unexpectedly large drop in claims for unemployment benefits last week, the latest sign that the U.S. job market is improving. Trading volume was very low, however, as most portfolio managers have closed out their positions for the year

The yield on the 10-year Treasury note, a benchmark for many kinds of loans, briefly crossed above the psychologically important 3 percent mark. It hasn't been that high since September.

The Dow Jones industrial average rose 122.33 points, or 0.8 percent, to 16,479.88. It was the 50th record high close for the Dow this year. The index is up 25.8 percent so far in 2013, on pace to have its best year since 1996.

The Standard & Poor's 500 index rose 8.70 points, or 0.5 percent, to 1,842.02 and the Nasdaq composite was up 11.76 points, or 0.3 percent, to 4,167.18. With Thursday's gains, the S&P 500 is up 29.2 percent for the year, or 31.3 percent when dividends are included. The S&P is on track for its best year since 1997.

Bond prices fell, pushing the yield on the 10-year Treasury note to 2.99 percent from 2.98 percent Tuesday. The note briefly traded above 3 percent.

Yields have been climbing since late November as economic reports have suggested that the U.S. recovery is gaining momentum. The increase accelerated last week after the Federal Reserve announced it was cutting back on its bond-buying program. The yield last touched 3 percent in September. It hasn't been consistently above 3 percent since July 2011.

"There's a silver lining to see bond yields rise like this, because it's a sign that the economy is getting stronger," said John De Clue, chief investment officer of U.S. Bank Wealth Management.

Yields on Treasury securities like the 10-year note are used to calculate interest rates on student loans, mortgage rates, credit cards, and many other kinds of debt. As the 10-year yield has risen in the last six months, so have mortgage rates. In early May, the average mortgage rate was around 3.35 percent. This week it was 4.48 percent, according the government mortgage agency Freddie Mac.

"We are starting to take the medication away from the bond market, but it's important to note that yields are still at historically low levels," said Dan Veru, chief investment officer of Palisade Capital Management, which manages $4.5 billion in assets.

Investors cheered the latest signal that the U.S. economy is improving. The Labor Department said the number of Americans who filed for unemployment benefits fell 42,000 last week to 338,000. The drop was far bigger than economists were expecting and an indication that fewer people were losing their jobs.

It was another slow day for Wall Street, with most investors on vacation for Christmas and only three trading days left in 2013. Approximately 1.96 billion shares traded hands on the New York Stock Exchange on Thursday, well below the daily average of 3.3 billion shares.

In corporate news:

T-Mobile rose 74 cents, or 2.3 percent, to $32.93 after The New York Times and other news outlets reported that the Sprint division of Japan's Softbank was looking to buy the wireless carrier.

Twitter rose $3.35, or 5 percent, to $72.31. The stock is up 22 percent this week alone and 76 percent so far this month. Investors continue to bid up Twitter's shares on optimism the social media company can increase profits from mobile advertising.


----------



## bigdog

Source: http://finance.yahoo.com 

Wall Street's six-day rally stalled out on Friday as stocks ended the day mostly flat in quiet trading.

Bond yields continued to rise. The yield on the 10-year Treasury note climbed above the 3 percent mark. The yield hasn't consistently traded above that level since July 2011. The increase will translate into higher interest rates on mortgages and other kinds of loans.

Energy stocks were among the biggest gainers after oil prices climbed above $100 a barrel for the first time since October. Offshore oil drilling companies Transocean and Diamond Offshore each rose about 1.5 percent. Oil giant ExxonMobil climbed 1 percent.

Sprint jumped 83 cents, or 8 percent, to $10.79 following news reports that Japan's Softbank, which owns Sprint, may use the company as a vehicle to purchase wireless competitor T-Mobile.

Most of Wall Street remains on vacation. Trading volume has been very low this week. Only 2 billion shares changed hands on the New York Stock Exchange on Friday, about 40 percent below the recent average.

There were no major economic reports or corporate earnings Friday.

The Dow Jones industrial average closed down 1.47 points, or 0.01 percent, to 16,478.41.

The Standard & Poor's 500 index fell 0.62 point, or 0.03 percent, to 1,841.40 and the Nasdaq composite was down 10.59 points, or 0.3 percent, at 4,156.59.

Even with Friday's pause, the stock market has been in rally mode heading into the end of the year. The Dow and S&P 500 are up 2.4 percent and 2 percent respectively so far in December, with only two trading days left in the year. For 2013, the S&P 500 is up roughly 29 percent, its best year since 1997, and the Dow is up 25.8 percent, its best year since 1996.

In the bond market, the yield on the 10-year Treasury note rose to 3 percent from 2.99 percent Thursday. 								

 *The NYSE DOW closed  	LOWER ▼	-1.47	points or ▼	-0.01%	on	Friday, 27 December 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16478.41	▼	-1.47	▼	-0.01%		
	Nasdaq___	4156.59	▼	-10.59	▼	-0.25%		
	S&P_500__	1841.4	▼	-0.62	▼	-0.03%		
	30_Yr_Bond	3.94	▲	0.02	▲	0.56%		

NYSE Volume	 2,041,394,750 	 	 	 	 	  		 
Nasdaq Volume	 1,237,903,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6750.87	▲	56.7	▲	0.85%		
	DAX_____	9589.39	▲	100.57	▲	1.06%		
	CAC_40__	4277.65	▲	59.24	▲	1.40%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5323.8	▼	-1.6	▼	-0.03%		
	Shanghai_Comp	2101.25	▲	28.15	▲	1.36%		
	Taiwan_Weight	8535.04	▲	49.15	▲	0.58%		
	Nikkei_225____	16178.94	▲	4.5	▲	0.03%		
	Hang_Seng____	23243.24	▲	63.69	▲	0.27%		
	Strait_Times___	3149.76	▲	15.4	▲	0.49%		
	NZX_50_Index__	4767.36	▼	-0.58	▼	-0.01%		

http://finance.yahoo.com/news/stocks-end-day-mostly-flat-213148587.html

*Stocks end day mostly flat in quiet trading

Stocks end day little changed in quiet trading; 10-year Treasury note yield rises to 3 percent*

By Ken Sweet, AP Markets Writer

Wall Street's six-day rally stalled out on Friday as stocks ended the day mostly flat in quiet trading.

Bond yields continued to rise. The yield on the 10-year Treasury note climbed above the 3 percent mark. The yield hasn't consistently traded above that level since July 2011. The increase will translate into higher interest rates on mortgages and other kinds of loans.

Energy stocks were among the biggest gainers after oil prices climbed above $100 a barrel for the first time since October. Offshore oil drilling companies Transocean and Diamond Offshore each rose about 1.5 percent. Oil giant ExxonMobil climbed 1 percent.

Sprint jumped 83 cents, or 8 percent, to $10.79 following news reports that Japan's Softbank, which owns Sprint, may use the company as a vehicle to purchase wireless competitor T-Mobile.

Most of Wall Street remains on vacation. Trading volume has been very low this week. Only 2 billion shares changed hands on the New York Stock Exchange on Friday, about 40 percent below the recent average.

There were no major economic reports or corporate earnings Friday.

The Dow Jones industrial average closed down 1.47 points, or 0.01 percent, to 16,478.41.

The Standard & Poor's 500 index fell 0.62 point, or 0.03 percent, to 1,841.40 and the Nasdaq composite was down 10.59 points, or 0.3 percent, at 4,156.59.

Even with Friday's pause, the stock market has been in rally mode heading into the end of the year. The Dow and S&P 500 are up 2.4 percent and 2 percent respectively so far in December, with only two trading days left in the year. For 2013, the S&P 500 is up roughly 29 percent, its best year since 1997, and the Dow is up 25.8 percent, its best year since 1996.

In the bond market, the yield on the 10-year Treasury note rose to 3 percent from 2.99 percent Thursday.

Bond yields have steadily climbed since Dec. 18, when the Federal Reserve announced it was paring back its bond-buying program. The purchases were aimed at keeping long-term interest rates low to encourage borrowing and hiring.

"Interest rates are on a road back to normalcy after being artificially suppressed by the Fed," said Karyn Cavanaugh, market strategist with ING U.S. Investment Management. Cavanaugh said she expects the yield on the 10-year note to rise to about 3.5 percent by the end of 2014.

In corporate news:

General Motors was also among the bigger movers Friday, falling 58 cents, or 1 percent, to $40.94. The automotive giant said it would have to recall 1.5 million cars in China to replace a bracket that secures a fuel pump.

Twitter fell $9.56, or 13 percent, to $63.75. Twitter has soared in recent days, prompting one Wall Street analyst to downgrade the company's stock to the equivalent of "sell," saying the rally was overdone. Even with Friday's sell-off, the social media company's stock is still up 53 percent this month.

9959


----------



## bigdog

Source: http://finance.yahoo.com 

 The stock market ended a quiet Monday mostly where it began as investors shut their books for what has been an extraordinary year on Wall Street.

Traders had little corporate or economic news to work through. The bond market was quiet as well. The yield on the benchmark 10-year Treasury note continued to hover near 3 percent.

The Dow Jones industrial average moved less than 30 points the entire day, the narrowest range for the index since February 2007. Approximately 2.3 billion shares changed hands on the New York Stock Exchange, 40 percent less than average.

The Dow ended the day up 25.88 points, or 0.2 percent, to 16,504.29.

"The very narrow range reflects that there's not a lot of news out there and a lot of investors' positions are closed for the year," said Alec Young, chief global strategist with S&P Capital IQ.

The Standard & Poor's 500 index fell less than a point to 1,841.07 and the technology-heavy Nasdaq composite fell 2.40 points, or 0.1 percent, to 4,154.20.

Walt Disney rose $1.88, or 3 percent, to $76.23, the most in the S&P 500. Analysts at Guggenhiem Securities upgraded Disney's stock to a "buy" from a "hold" on Friday.

With just one trading day left in the year, 2013 is looking to be a memorable one for investors. The S&P 500 is up 29.1 percent so far, on pace for its best year since 1997. The Dow is up 26 percent, the most since 1996.

With 2013 in the books, investors have turned their attention to the beginning of 2014. Few expect next year to be as good to investors as 2013 was.

"After a year like this, people start to think a 30 percent-plus year is normal," said Ron Florance, deputy chief investment officer for Wells Fargo Private Bank. "We need to be realistic going into next year."

The next big piece of news investors will have to work through will be the December jobs report, which will be released Jan. 10. There is also corporate earnings season, which will start in the second half of January. Corporate earnings will be important, particularly since this upcoming season will encompass the closely watched holiday shopping period.

"The market is rallying on the idea that economic growth is picking up globally and in the U.S., so investors need to see those expectations matched," Young said.

Bond yields continue to tread water around the 3 percent level. The yield on the U.S. 10-year note fell to 2.98 percent Monday from 3 percent Friday.

The market is expected to be a holding pattern until next week, once all the mid-week holiday disruptions are over, Florance said. Both the NYSE and the Nasdaq Stock Market will be closed Wednesday for New Year's Day.

In overseas markets, Japan's Nikkei stock index closed higher for a ninth straight day Monday. The index ended 2013 up 57 percent. Japanese markets will be closed Tuesday for New Year's Eve. 								

 *The NYSE DOW closed  	HIGHER ▲	25.88	points or ▲	0.16%	on	Monday, 30 December 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16504.29	▲	25.88	▲	0.16%		
	Nasdaq___	4154.2	▼	-2.4	▼	-0.06%		
	S&P_500__	1841.07	▼	-0.33	▼	-0.02%		
	30_Yr_Bond	3.91	▼	-0.04	▼	-0.91%		

NYSE Volume	 2,271,586,250 	 	 	 	 	  		 
Nasdaq Volume	 1,345,599,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6731.27	▼	-19.6	▼	-0.29%		
	DAX_____	9552.16	▼	-37.23	▼	-0.39%		
	CAC_40__	4275.71	▼	-1.94	▼	-0.05%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5358	▲	34.2	▲	0.64%		
	Shanghai_Comp	2097.53	▼	-3.72	▼	-0.18%		
	Taiwan_Weight	8623.43	▲	88.39	▲	1.04%		
	Nikkei_225____	16291.31	▲	112.37	▲	0.69%		
	Hang_Seng____	23244.87	▲	1.63	▲	0.01%		
	Strait_Times___	3153.29	▲	3.53	▲	0.11%		
	NZX_50_Index__	4768.98	▲	1.62	▲	0.03%		

http://finance.yahoo.com/news/stocks-barely-budge-quiet-end-212212981.html

*Stocks barely budge in quiet end-of-year trading**

US stocks close mostly flat on Wall Street as investors start to close out the books for 2013*

By Ken Sweet, AP Markets Writer 

 The stock market ended a quiet Monday mostly where it began as investors shut their books for what has been an extraordinary year on Wall Street.

Traders had little corporate or economic news to work through. The bond market was quiet as well. The yield on the benchmark 10-year Treasury note continued to hover near 3 percent.

The Dow Jones industrial average moved less than 30 points the entire day, the narrowest range for the index since February 2007. Approximately 2.3 billion shares changed hands on the New York Stock Exchange, 40 percent less than average.

The Dow ended the day up 25.88 points, or 0.2 percent, to 16,504.29.

"The very narrow range reflects that there's not a lot of news out there and a lot of investors' positions are closed for the year," said Alec Young, chief global strategist with S&P Capital IQ.

The Standard & Poor's 500 index fell less than a point to 1,841.07 and the technology-heavy Nasdaq composite fell 2.40 points, or 0.1 percent, to 4,154.20.

Walt Disney rose $1.88, or 3 percent, to $76.23, the most in the S&P 500. Analysts at Guggenhiem Securities upgraded Disney's stock to a "buy" from a "hold" on Friday.

With just one trading day left in the year, 2013 is looking to be a memorable one for investors. The S&P 500 is up 29.1 percent so far, on pace for its best year since 1997. The Dow is up 26 percent, the most since 1996.

With 2013 in the books, investors have turned their attention to the beginning of 2014. Few expect next year to be as good to investors as 2013 was.

"After a year like this, people start to think a 30 percent-plus year is normal," said Ron Florance, deputy chief investment officer for Wells Fargo Private Bank. "We need to be realistic going into next year."

The next big piece of news investors will have to work through will be the December jobs report, which will be released Jan. 10. There is also corporate earnings season, which will start in the second half of January. Corporate earnings will be important, particularly since this upcoming season will encompass the closely watched holiday shopping period.

"The market is rallying on the idea that economic growth is picking up globally and in the U.S., so investors need to see those expectations matched," Young said.

Bond yields continue to tread water around the 3 percent level. The yield on the U.S. 10-year note fell to 2.98 percent Monday from 3 percent Friday.

The market is expected to be a holding pattern until next week, once all the mid-week holiday disruptions are over, Florance said. Both the NYSE and the Nasdaq Stock Market will be closed Wednesday for New Year's Day.

In overseas markets, Japan's Nikkei stock index closed higher for a ninth straight day Monday. The index ended 2013 up 57 percent. Japanese markets will be closed Tuesday for New Year's Eve.


----------



## bigdog

Source: http://finance.yahoo.com 


U.S. financial markets will be closed on Wednesday for New Year's Day. 

The stock market closed out a record year with more all-time highs on Tuesday, giving U.S. indexes their biggest annual gains in almost two decades.

The Standard & Poor's 500 index notched its best year since 1997; The Dow Jones industrial average rose the most since 1995.

While trading was light on the last day of the year, investors were able to rally behind a report that showed U.S. consumer confidence improved significantly in December.

The early signs for the stock market in 2014 are also encouraging.

"I expect a lot of good things for the new year," Karyn Cavanaugh, market strategist with ING U.S. Investment Management, said. "The economy is getting better and corporate earnings are improving. That's going to drive the market higher next year as well."

On Tuesday the Standard & Poor's 500 rose 7.29 points, or 0.4 percent, to 1,848.36. The index ended 2013 up 29.6 percent. With dividends included, the total return was 31.9 percent.

The Dow Jones industrial average rose 72.37 points, or 0.4 percent, to 16,576.66. The blue chips ended the year up 26.5 percent.

Lastly, the Nasdaq composite rose 22.39 points, or 0.5 percent, to close out 2013 at 4,176.59. The Nasdaq did far better than the Dow and S&P, rising 38.3 percent for the year.

While stocks clawed higher for most of 2013, the rally accelerated into the end of the year. The Federal Reserve's announcement on Dec. 18 that it would start paring back, or "tapering," its economic stimulus pushed stocks further into record territory.

"Since the Fed announced it was tapering its stimulus program two weeks ago, investors that were underinvested in stocks have pulled out of gold and bonds and moved it into stocks," said J.J. Kinahan, chief strategist with TD Ameritrade. "It's been a quiet rally."

All 10 sectors of the S&P 500 ended the year higher, but the year's biggest gainers were companies most exposed to the U.S. economic recovery. Consumer discretionary stocks in the S&P 500 rose 40 percent this year. Close behind were industrial stocks with a gain of 37 percent.

As it has been for the last two weeks of the year, trading volume was very low Tuesday. Roughly 2.3 billion shares were traded on the New York Stock Exchange, about 40 percent below average. Most investors closed their books before the week of Christmas.

2013's rally took many investors by surprise.

Any number of things could have derailed the market's rally: The U.S. government shutdown, the possibility of a default, the threat of military action in Syria, budget cuts and new worries about European government debt. Instead, the market just kept on going.

Skittish investors who jumped out of stocks this year not only lost out, but were punished for it.

Bond investors lost money this year, according to Barclays Capital U.S. Aggregate Bond Index, a broad measure of the debt market. The index fell 3 percent this year, the first decline since 1999.

If bond investors had a disappointing year, gold investors got slammed. Gold lost 28 percent of its value in 2013, its worst year since 1981. 								

 *The NYSE DOW closed  	HIGHER ▲	72.37	points or ▲	0.44%	on	Tuesday, 31 December 2013	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16576.66	▲	72.37	▲	0.44%		
	Nasdaq___	4176.59	▲	22.39	▲	0.54%		
	S&P_500__	1848.36	▲	7.29	▲	0.40%		
	30_Yr_Bond	3.96	▲	0.06	▲	1.46%		

NYSE Volume	 2,292,183,000 	 	 	 	 	  		 
Nasdaq Volume	 1,391,031,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6749.09	▲	17.82	▲	0.26%		
	DAX_____	9552.16	▼	-37.23	▼	-0.39%		
	CAC_40__	4295.95	▲	20.24	▲	0.47%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5353.1	▼	-4.9	▼	-0.09%		
	Shanghai_Comp	2115.98	▲	18.45	▲	0.88%		
	Taiwan_Weight	8611.51	▼	-11.92	▼	-0.14%		
	Nikkei_225____	16291.31	▲	112.37	▲	0.69%		
	Hang_Seng____	23306.39	▲	61.52	▲	0.26%		
	Strait_Times___	3167.43	▲	14.14	▲	0.45%		
	NZX_50_Index__	4737.01	▼	-31.97	▼	-0.67%		

http://finance.yahoo.com/news/p-500-index-best-since-215535493.html

*S&P 500 index has its best year since 1997

S&P 500 index has its best year since 1997; US stocks rise on the last trading day of 2013*

By Ken Sweet, AP Markets Writer 

The stock market closed out a record year with more all-time highs on Tuesday, giving U.S. indexes their biggest annual gains in almost two decades.

The Standard & Poor's 500 index notched its best year since 1997; The Dow Jones industrial average rose the most since 1995.

While trading was light on the last day of the year, investors were able to rally behind a report that showed U.S. consumer confidence improved significantly in December.

The early signs for the stock market in 2014 are also encouraging.

"I expect a lot of good things for the new year," Karyn Cavanaugh, market strategist with ING U.S. Investment Management, said. "The economy is getting better and corporate earnings are improving. That's going to drive the market higher next year as well."

On Tuesday the Standard & Poor's 500 rose 7.29 points, or 0.4 percent, to 1,848.36. The index ended 2013 up 29.6 percent. With dividends included, the total return was 31.9 percent.

The Dow Jones industrial average rose 72.37 points, or 0.4 percent, to 16,576.66. The blue chips ended the year up 26.5 percent.

Lastly, the Nasdaq composite rose 22.39 points, or 0.5 percent, to close out 2013 at 4,176.59. The Nasdaq did far better than the Dow and S&P, rising 38.3 percent for the year.

While stocks clawed higher for most of 2013, the rally accelerated into the end of the year. The Federal Reserve's announcement on Dec. 18 that it would start paring back, or "tapering," its economic stimulus pushed stocks further into record territory.

"Since the Fed announced it was tapering its stimulus program two weeks ago, investors that were underinvested in stocks have pulled out of gold and bonds and moved it into stocks," said J.J. Kinahan, chief strategist with TD Ameritrade. "It's been a quiet rally."

All 10 sectors of the S&P 500 ended the year higher, but the year's biggest gainers were companies most exposed to the U.S. economic recovery. Consumer discretionary stocks in the S&P 500 rose 40 percent this year. Close behind were industrial stocks with a gain of 37 percent.

As it has been for the last two weeks of the year, trading volume was very low Tuesday. Roughly 2.3 billion shares were traded on the New York Stock Exchange, about 40 percent below average. Most investors closed their books before the week of Christmas.

2013's rally took many investors by surprise.

Any number of things could have derailed the market's rally: The U.S. government shutdown, the possibility of a default, the threat of military action in Syria, budget cuts and new worries about European government debt. Instead, the market just kept on going.

Skittish investors who jumped out of stocks this year not only lost out, but were punished for it.

Bond investors lost money this year, according to Barclays Capital U.S. Aggregate Bond Index, a broad measure of the debt market. The index fell 3 percent this year, the first decline since 1999.

If bond investors had a disappointing year, gold investors got slammed. Gold lost 28 percent of its value in 2013, its worst year since 1981.

With the U.S. economy improving and stocks performing so well, gold is likely to remain under pressure, Kinahan said.

U.S. financial markets will be closed on Wednesday for New Year's Day.


----------



## bigdog

Source: http://finance.yahoo.com 

Investors may already feel a little nostalgic for 2013.

The Standard & Poor's 500 index began the New Year with its worst performance in three weeks as energy and technology companies pulled down the stock market.

Stocks started the year at lofty heights after a combination of rising company earnings and economic stimulus from the Federal Reserve pushed major indexes to record levels in 2013. The S&P 500 surged almost 30 percent, its best year since 1997, and the Dow Jones industrial average climbed 26.5 percent, the most since 1995.

"The market was grossly overbought and needed to pull back," said Peter Cardillo, chief market economist at Rockwell Global Capital. "But fundamentally everything is looking pretty good."

The S&P 500 dropped 16.38 points, or 0.9 percent, to 1,831.98, its worst start to a year's trading since Jan. 2, 2008, when the index slumped 1.4 percent.

The Dow fell 135.31 points, or 0.8 percent, to 16,441.35. The Nasdaq composite slid 33.52 points, or 0.8 percent, to 4,143.07.

Energy stocks fell as the price of oil dropped $2.98, or 3 percent, to $95.44 a barrel. Oil slumped after reports that an end to protests at a major Libyan oil field could return 300,000 barrels of daily production to the global market.

Technology stocks lost ground after analysts published gloomy notes on companies in the sector. Analog Devices lost $1.65, or 3.2 percent, to $49.28 after analysts at Goldman Sachs advised its clients to sell the chipmaker's stock, saying it's overvalued compared to its peers. 								

 *The NYSE DOW closed  	LOWER ▼	-135.31	points or ▼	-0.82%	on	Thursday, 2 January 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16441.35	▼	-135.31	▼	-0.82%		
	Nasdaq___	4143.07	▼	-33.52	▼	-0.80%		
	S&P_500__	1831.98	▼	-16.38	▼	-0.89%		
	30_Yr_Bond	3.92	▼	-0.05	▼	-1.14%		

NYSE Volume	 3,057,877,000 	 	 	 	 	  		 
Nasdaq Volume	 1,735,909,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6717.91	▼	-31.18	▼	-0.46%		
	DAX_____	9400.04	▼	-152.12	▼	-1.59%		
	CAC_40__	4227.28	▼	-68.67	▼	-1.60%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5369.8	▲	16.7	▲	0.31%		
	Shanghai_Comp	2109.39	▼	-6.59	▼	-0.31%		
	Taiwan_Weight	8612.54	▲	1.03	▲	0.01%		
	Nikkei_225____	16291.31	▲	112.37	▲	0.69%		
	Hang_Seng____	23340.05	▲	33.66	▲	0.14%		
	Strait_Times___	3174.65	▲	7.22	▲	0.23%		
	NZX_50_Index__	4737.01	▼	-31.97	▼	-0.67%		

http://finance.yahoo.com/news/stock-records-weak-start-2014-211544316.html
*
After year of stock records, a weak start to 2014

US stocks start 2014 on a sour note after the best year since 1997 for the S&P 500 index*

By Steve Rothwell, AP Markets Writer

Investors may already feel a little nostalgic for 2013.

The Standard & Poor's 500 index began the New Year with its worst performance in three weeks as energy and technology companies pulled down the stock market.

Stocks started the year at lofty heights after a combination of rising company earnings and economic stimulus from the Federal Reserve pushed major indexes to record levels in 2013. The S&P 500 surged almost 30 percent, its best year since 1997, and the Dow Jones industrial average climbed 26.5 percent, the most since 1995.

"The market was grossly overbought and needed to pull back," said Peter Cardillo, chief market economist at Rockwell Global Capital. "But fundamentally everything is looking pretty good."

The S&P 500 dropped 16.38 points, or 0.9 percent, to 1,831.98, its worst start to a year's trading since Jan. 2, 2008, when the index slumped 1.4 percent.

The Dow fell 135.31 points, or 0.8 percent, to 16,441.35. The Nasdaq composite slid 33.52 points, or 0.8 percent, to 4,143.07.

Energy stocks fell as the price of oil dropped $2.98, or 3 percent, to $95.44 a barrel. Oil slumped after reports that an end to protests at a major Libyan oil field could return 300,000 barrels of daily production to the global market.

Technology stocks lost ground after analysts published gloomy notes on companies in the sector. Analog Devices lost $1.65, or 3.2 percent, to $49.28 after analysts at Goldman Sachs advised its clients to sell the chipmaker's stock, saying it's overvalued compared to its peers.

Apple fell $7.89, or 1.4 percent, to $553.13, after Wells Fargo cut its outlook on the stock to "market perform" from "outperform," saying profit margins may come under pressure later this year.

Some analysts said investors shouldn't read too much into the lackluster start to the year because trading volumes were below normal as the holiday season wound down with many market participants still away from their desks.

"I don't think we can really start counting till Monday," said Dan Morris, Global Investment Strategist at TIAA-CREF. "A lot of people are still on holiday."

Investors will be hoping that the stock market steadies because its performance in January often gives an indication of how the rest of the year might turn out. The January barometer has proven accurate almost 90 percent of years since 1950, according to the Stock Trader's Almanac.

The yield on the 10-year Treasury note climbed to 2.99 percent from 2.97 percent after some encouraging reports on the economy. The yield on the note, which rises when investors sell bonds, is close to its highest since July 2011.

The number of Americans seeking unemployment benefits last week fell by 2,000, extending a recovery in the job market, and U.S. manufacturing grew at a healthy pace in December as factories stepped up hiring and received more orders.

Among other stocks making big moves, Martha Stewart Living Omnimedia climbed 37 cents, or 8.8 percent, to $4.56 after it announced an end to its bitter standoff with Macy's over a breach-of-contract lawsuit involving J.C. Penney.

Stewart's company and Penney signed a merchandising deal in December 2011. That prompted Macy's to sue both companies for violating its exclusive agreement with Martha Stewart. Terms of the settlement are not being released. Macy's fell 1 cent to $53.39.


----------



## bigdog

Source: http://finance.yahoo.com 

After last year's big party in the stock market, 2014 is starting off with a nagging hangover.

The Standard & Poor's 500 index edged a fraction of a point lower on Friday, beginning a year with a two-day losing streak for the first time since 2005.

While few analysts expect 2014 to produce gains comparable to last year's advance of nearly 30 percent, many see a moderate increase as the economy continues to improve and investors move funds out of bonds and into stocks, which are generating much bigger returns for investors.

"The market is trying to find some direction here," said Scott Wren, a senior equity strategist at Wells Fargo Advisors. "We're in for a few days of trying to figure out whether we inch a little higher or see some down days."

The S&P 500 index fell 0.61 points, or 0.03 percent, to 1,831.37 and was 0.5 percent lower for the week.

The Dow Jones industrial average gained 28.64 points, or 0.2 percent, to 16,469.99. The Nasdaq composite fell 11.16 points, or 0.3 percent, to 4,131.91.

General Motors was among the stocks that posted the biggest losses in the S&P 500. The automaker fell $1.38, or 3.4 percent, to $39.57 after reporting a U.S. sale slump of more than 6 percent in December.

Energy companies have also started the year with declines as the price of oil falls.

On Friday, oil extended a weeklong skid by falling $1.48, or 1.6 percent, to $93.96 a barrel. A strengthening U.S. economy drove the dollar higher, which hurts oil, and signs emerged of ample supply worldwide.

Federal Reserve Chairman Ben Bernanke on Friday predicted stronger growth in 2014 and said that factors that have kept the economy from accelerating appear to be abating.

"The combination of financial healing, greater balance in the housing market, less fiscal restraint, and, of course, continued monetary accommodation bodes well for U.S. economic growth in coming quarters," Bernanke said in comments to the annual meeting of the American Economic Association in Philadelphia.

The encouraging economic backdrop is one reason for investors to remain positive about stocks, despite the slow start to the year, said Bill Barker, a senior portfolio analyst at Motley Fool Funds, which manages about $600 million in stock mutual funds.

"As long as there is no inflation and a good economy, with low interest rates ... that's the kind of thing that stocks love," Barker said.		

 *The NYSE DOW closed  	HIGHER ▲	28.64	points or ▲	0.17%	on	Friday, 3 January 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16469.99	▲	28.64	▲	0.17%		
	Nasdaq___	4131.91	▼	-11.16	▼	-0.27%		
	S&P_500__	1831.37	▼	-0.61	▼	-0.03%		
	30_Yr_Bond	3.93	▲	0.01	▲	0.28%		

NYSE Volume	 2,763,358,000 	 	 	 	 	  		 
Nasdaq Volume	 1,660,626,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6730.67	▲	12.76	▲	0.19%		
	DAX_____	9435.15	▲	35.11	▲	0.37%		
	CAC_40__	4247.65	▲	20.37	▲	0.48%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5351.8	▼	-18	▼	-0.34%		
	Shanghai_Comp	2083.14	▼	-26.25	▼	-1.24%		
	Taiwan_Weight	8546.54	▼	-66	▼	-0.77%		
	Nikkei_225____	16291.31	▲	112.37	▲	0.69%		
	Hang_Seng____	22817.28	▼	-522.77	▼	-2.24%		
	Strait_Times___	3131.47	▼	-43.18	▼	-1.36%		
	NZX_50_Index__	4769.04	▲	32.03	▲	0.68%		

http://finance.yahoo.com/news/p-500-starts-2014-2-221908088.html

*S&P 500 starts 2014 with a 2-day decline

S&P 500 edges lower, opening year with a two-day losing streak for first time since 2005*

By Steve Rothwell, AP Markets Writer

After last year's big party in the stock market, 2014 is starting off with a nagging hangover.

The Standard & Poor's 500 index edged a fraction of a point lower on Friday, beginning a year with a two-day losing streak for the first time since 2005.

While few analysts expect 2014 to produce gains comparable to last year's advance of nearly 30 percent, many see a moderate increase as the economy continues to improve and investors move funds out of bonds and into stocks, which are generating much bigger returns for investors.

"The market is trying to find some direction here," said Scott Wren, a senior equity strategist at Wells Fargo Advisors. "We're in for a few days of trying to figure out whether we inch a little higher or see some down days."

The S&P 500 index fell 0.61 points, or 0.03 percent, to 1,831.37 and was 0.5 percent lower for the week.

The Dow Jones industrial average gained 28.64 points, or 0.2 percent, to 16,469.99. The Nasdaq composite fell 11.16 points, or 0.3 percent, to 4,131.91.

General Motors was among the stocks that posted the biggest losses in the S&P 500. The automaker fell $1.38, or 3.4 percent, to $39.57 after reporting a U.S. sale slump of more than 6 percent in December.

Energy companies have also started the year with declines as the price of oil falls.

On Friday, oil extended a weeklong skid by falling $1.48, or 1.6 percent, to $93.96 a barrel. A strengthening U.S. economy drove the dollar higher, which hurts oil, and signs emerged of ample supply worldwide.

Federal Reserve Chairman Ben Bernanke on Friday predicted stronger growth in 2014 and said that factors that have kept the economy from accelerating appear to be abating.

"The combination of financial healing, greater balance in the housing market, less fiscal restraint, and, of course, continued monetary accommodation bodes well for U.S. economic growth in coming quarters," Bernanke said in comments to the annual meeting of the American Economic Association in Philadelphia.

The encouraging economic backdrop is one reason for investors to remain positive about stocks, despite the slow start to the year, said Bill Barker, a senior portfolio analyst at Motley Fool Funds, which manages about $600 million in stock mutual funds.

"As long as there is no inflation and a good economy, with low interest rates ... that's the kind of thing that stocks love," Barker said.

Among the stock market winners on Friday was Delta Air Lines.

The carrier's stock jumped $1.53, or 5.5 percent, to $29.23 after a measure of its revenue for December rose 10 percent. Delta benefited from strong demand and the late Thanksgiving holiday. Analysts at S&P Capital IQ raised their earnings estimates for the carrier and boosted their recommendation on the stock to "strong buy."

Trading was muted Friday after a winter storm hit the U.S. Northeast. The governors of New York and New Jersey declared states of emergency and urged people to avoid travelling. Trading was quiet this week, before and after the New Year's Day holiday on Wednesday.

In government bond trading, the yield on the 10-year Treasury note was unchanged from Thursday at 2.99 percent.

The yield on the note climbed from 1.76 percent last year to as high as 3 percent as investors sold bonds in an improving economy. Many analysts expect the yield to continue rising this year as the Federal Reserve reduces, or "tapers," its stimulus.

"Depending on how quickly the Fed decides to taper, this could be a very bearish year for bonds," said Anna Rathbun, director of research at CBIZ, an investment and retirement consultant.

0471


----------



## bigdog

Source: http://finance.yahoo.com 

The Standard & Poor's 500 index notched its worst start to a year in almost a decade Monday, closing lower for the third straight trading day.

Although the declines for stocks in the New Year have been modest, the direction has been consistently down. The Standard & Poor's 500 index has fallen 1.2 percent from its most recent record close on Dec. 31.

The performance is a contrast to last year, when the S&P 500 surged almost 30 percent, its best annual gain since 1997. The banner year ended with the stock market climbing to record levels amid signs that the economy was strengthening.

"The market is basically looking for additional confirmation of economic strength and maybe marking time as it catches its breath from a pretty strong run at year-end," said Jim Russell, a regional investment director at US Bank.

The Standard & Poor's 500 fell 4.60 points, or 0.3 percent, to 1,826.77. The Dow Jones industrial average dropped 44.89, or 0.3 percent, to 16,425.10. The Nasdaq composite fell 18.23, or 0.4 percent, to 4,113.68.

The weak start to the year is not a good omen for stock investors. The last time the S&P 500 dropped on the opening three trading days of the year in 2005, the index climbed just 3 percent for the whole year.

Despite the slow start, many analysts say it's too early to call a change in the market's upward trend.

Reports on the economy Monday contained some hopeful signs.

U.S. service companies grew at a steady but slightly slower pace in December. Sales dipped and new orders dropped to a four-year low, according to a report from the Institute for Supply Management. The report suggests that growth may remain modest in the coming months.

Factory orders climbed 1.8 percent in November, led by a surge in aircraft demand, the Commerce Department said.

The most closely watched economic report of the week will come on Friday when the Labor Department is scheduled to release its jobs survey for December. That's going to influence the Fed's decisions on how fast to reduce its bond purchases in the coming months.

Company earnings reports also start coming out this week, providing another catalyst that may lift the market. Alcoa, a former Dow stock, will be one of the first major companies to report its fourth quarter earnings after the close of trading on Thursday.

"This downturn is persisting a little bit more than I would expect," said Jack Ablin, chief investment officer at BMO Private Bank. "Between the jobs report Friday and earnings results next week, we will have a much better idea of the drivers of the market." 								

 *The NYSE DOW closed  	LOWER ▼	-44.89	points or ▼	-0.27%	on	Monday, 6 January 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16425.1	▼	-44.89	▼	-0.27%		
	Nasdaq___	4113.68	▼	-18.23	▼	-0.44%		
	S&P_500__	1826.77	▼	-4.6	▼	-0.25%		
	30_Yr_Bond	3.9	▼	-0.03	▼	-0.81%		

NYSE Volume	 3,231,277,000 	 	 	 	 	  		 
Nasdaq Volume	 2,263,621,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6730.73	▲	0.06	▲	0.00%		
	DAX_____	9428	▼	-7.15	▼	-0.08%		
	CAC_40__	4227.54	▼	-20.11	▼	-0.47%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5327.7	▼	-24.1	▼	-0.45%		
	Shanghai_Comp	2045.71	▼	-37.43	▼	-1.80%		
	Taiwan_Weight	8500.01	▼	-46.53	▼	-0.54%		
	Nikkei_225____	15908.88	▼	-382.43	▼	-2.35%		
	Hang_Seng____	22684.15	▼	-133.13	▼	-0.58%		
	Strait_Times___	3123.82	▼	-7.65	▼	-0.24%		
	NZX_50_Index__	4765.32	▼	-3.72	▼	-0.08%		

http://finance.yahoo.com/news/weak-start-2014-continues-stock-174528478.html

*A weak start to 2014 continues for stock market

Stocks fall for third straight day; S&P 500 notches worst start to a year in almost a decade*

By Steve Rothwell, AP Markets Reporter

The Standard & Poor's 500 index notched its worst start to a year in almost a decade Monday, closing lower for the third straight trading day.

Although the declines for stocks in the New Year have been modest, the direction has been consistently down. The Standard & Poor's 500 index has fallen 1.2 percent from its most recent record close on Dec. 31.

The performance is a contrast to last year, when the S&P 500 surged almost 30 percent, its best annual gain since 1997. The banner year ended with the stock market climbing to record levels amid signs that the economy was strengthening.

"The market is basically looking for additional confirmation of economic strength and maybe marking time as it catches its breath from a pretty strong run at year-end," said Jim Russell, a regional investment director at US Bank.

The Standard & Poor's 500 fell 4.60 points, or 0.3 percent, to 1,826.77. The Dow Jones industrial average dropped 44.89, or 0.3 percent, to 16,425.10. The Nasdaq composite fell 18.23, or 0.4 percent, to 4,113.68.

The weak start to the year is not a good omen for stock investors. The last time the S&P 500 dropped on the opening three trading days of the year in 2005, the index climbed just 3 percent for the whole year.

Despite the slow start, many analysts say it's too early to call a change in the market's upward trend.

Reports on the economy Monday contained some hopeful signs.

U.S. service companies grew at a steady but slightly slower pace in December. Sales dipped and new orders dropped to a four-year low, according to a report from the Institute for Supply Management. The report suggests that growth may remain modest in the coming months.

Factory orders climbed 1.8 percent in November, led by a surge in aircraft demand, the Commerce Department said.

The most closely watched economic report of the week will come on Friday when the Labor Department is scheduled to release its jobs survey for December. That's going to influence the Fed's decisions on how fast to reduce its bond purchases in the coming months.

Company earnings reports also start coming out this week, providing another catalyst that may lift the market. Alcoa, a former Dow stock, will be one of the first major companies to report its fourth quarter earnings after the close of trading on Thursday.

"This downturn is persisting a little bit more than I would expect," said Jack Ablin, chief investment officer at BMO Private Bank. "Between the jobs report Friday and earnings results next week, we will have a much better idea of the drivers of the market."

Among the winners on Monday were men's clothing retailers Men's Wearhouse and Jos. A. Bank. Both stocks rose after Men's Wearhouse announced a $1.61 billion hostile bid early Monday for its smaller rival.

The offer came four months after Jos. A. Bank had made its own takeover bid for Men's Wearhouse. That offer was rejected and Men's Wearhouse bid for Jos. A. Bank instead. After failing to reach a deal, Men's Wearhouse is now going directly to its rival's shareholders.

Jos. A. Bank rose $2.46, or 4.5 percent, to $56.87. Men's Wearhouse climbed $1.09 cents, or 2.2 percent, to $51.68.

Satellite radio company sirius XM was another stock that rose on takeover news.

Sirius climbed 26 cents, or 7.3 percent, to $3.83 after Liberty Media said late Friday that it wants to take full ownership of the satellite radio company in a deal that would value Sirius at nearly $23 billion.

In government bond trading, the yield on the 10-year Treasury note fell to 2.96 percent from 3 percent on Friday.

Among other stocks making big moves:

”” Best Buy, one of best performers in the S&P 500 last year, slipped $1.27, or 3.1 percent, to $39.41 after Hhgregg, a competitor, said it expects to report lower holiday sales.

”” PetSmart fell $2.03, or 2.8 percent, to $69.76 after analysts at Deutsche Bank advised their clients to sell the company's stock, predicting the pet retailer will struggle as it faces increased competition.


----------



## bigdog

Source: http://finance.yahoo.com 

Stocks rallied Tuesday, ending a slump that had ushered in the New Year.

The Standard and Poor's 500 index climbed the most in three weeks, led by gains for health care stocks. UnitedHealth Group, the nation's largest health insurer, and Johnson & Johnson both climbed on recommendations for brokerage firms.

After three straight declines, the S&P 500 would have matched its worst opening of a year since 1978 had it closed lower for a fourth day. The stock market's slow start to 2014 contrasts with last year's exceptional performance, when the S&P 500 climbed to record levels after surging almost 30 percent.

"To me the trend still looks up, even though we've been chopping around," said Bill Stone, chief investment strategist at PNC Wealth Management Group. The economy "seems to be in the mode that you would expect corporate earnings to continue to grow."

The S&P 500 rose 11.11 points, or 0.6 percent, to 1,837.88, the biggest gain since Dec. 18. Nine of the 10 sectors that make up the index rose.

The Dow Jones industrial average climbed 105.84 points, or 0.6 percent, to 16,530.94 The Nasdaq composite gained 39.50 points, or 1 percent, to 4,153.18.

UnitedHealth group gained $2.27, or 3.1 percent, to $76.51 after analysts at Deutsche Bank said they expected the nation's largest health insurance company to charge customers more in premiums this year.

Johnson & Johnson climbed $1.96, or 2.1 percent, to $94.29 after analysts at RBC Capital raised their outlook on the stock to "outperform," in part due to optimism on sales of the diabetes drug Invokana.

Investors were also encouraged by the easy passage in a Senate vote late Monday of Janet Yellen's nomination to take the helm at the Federal Reserve. The vote puts an economist in the post who has backed the Fed's recent efforts to stimulate the economy with low interest rates and huge bond purchases.

The confirmation is a reminder that the Fed's policies of stimulating the economy will likely continue, said Kristina Hooper, U.S. Investment Strategist at Allianz Global Investors.

"It's just a nice little halo effect," said Hooper.

Investors will get more insight into the Fed's thinking when minutes from the Federal Open Market Committee are released on Wednesday. The Fed announced after its last meeting that it would begin winding down its monthly $85 billion bond-buying program. That stimulus was a major support for last year's rally in stocks. 								

 *The NYSE DOW closed  	HIGHER ▲	105.84	points or ▲	0.64%	on	Tuesday, 7 January 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16530.94	▲	105.84	▲	0.64%		
	Nasdaq___	4153.18	▲	39.5	▲	0.96%		
	S&P_500__	1837.88	▲	11.11	▲	0.61%		
	30_Yr_Bond	3.88	▼	-0.02	▼	-0.44%		

NYSE Volume	 3,495,253,000 	 	 	 	 	  		 
Nasdaq Volume	 2,262,883,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6755.45	▲	24.72	▲	0.37%		
	DAX_____	9506.2	▲	78.2	▲	0.83%		
	CAC_40__	4262.68	▲	35.14	▲	0.83%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5318.8	▼	-8.9	▼	-0.17%		
	Shanghai_Comp	2047.32	▲	1.61	▲	0.08%		
	Taiwan_Weight	8512.3	▲	12.29	▲	0.14%		
	Nikkei_225____	15814.37	▼	-94.51	▼	-0.59%		
	Hang_Seng____	22712.78	▲	28.63	▲	0.13%		
	Strait_Times___	3120.88	▼	-2.94	▼	-0.09%		
	NZX_50_Index__	4759.62	▼	-5.69	▼	-0.12%		

http://finance.yahoo.com/news/us-stocks-rally-breaking-three-215044105.html

*US stocks rally, breaking a three-day slump

Stocks rise after three-day slump that started the new year; Health care stocks lead gains*

By Steve Rothwell, AP Markets Writer

Stocks rallied Tuesday, ending a slump that had ushered in the New Year.

The Standard and Poor's 500 index climbed the most in three weeks, led by gains for health care stocks. UnitedHealth Group, the nation's largest health insurer, and Johnson & Johnson both climbed on recommendations for brokerage firms.

After three straight declines, the S&P 500 would have matched its worst opening of a year since 1978 had it closed lower for a fourth day. The stock market's slow start to 2014 contrasts with last year's exceptional performance, when the S&P 500 climbed to record levels after surging almost 30 percent.

"To me the trend still looks up, even though we've been chopping around," said Bill Stone, chief investment strategist at PNC Wealth Management Group. The economy "seems to be in the mode that you would expect corporate earnings to continue to grow."

The S&P 500 rose 11.11 points, or 0.6 percent, to 1,837.88, the biggest gain since Dec. 18. Nine of the 10 sectors that make up the index rose.

The Dow Jones industrial average climbed 105.84 points, or 0.6 percent, to 16,530.94 The Nasdaq composite gained 39.50 points, or 1 percent, to 4,153.18.

UnitedHealth group gained $2.27, or 3.1 percent, to $76.51 after analysts at Deutsche Bank said they expected the nation's largest health insurance company to charge customers more in premiums this year.

Johnson & Johnson climbed $1.96, or 2.1 percent, to $94.29 after analysts at RBC Capital raised their outlook on the stock to "outperform," in part due to optimism on sales of the diabetes drug Invokana.

Investors were also encouraged by the easy passage in a Senate vote late Monday of Janet Yellen's nomination to take the helm at the Federal Reserve. The vote puts an economist in the post who has backed the Fed's recent efforts to stimulate the economy with low interest rates and huge bond purchases.

The confirmation is a reminder that the Fed's policies of stimulating the economy will likely continue, said Kristina Hooper, U.S. Investment Strategist at Allianz Global Investors.

"It's just a nice little halo effect," said Hooper.

Investors will get more insight into the Fed's thinking when minutes from the Federal Open Market Committee are released on Wednesday. The Fed announced after its last meeting that it would begin winding down its monthly $85 billion bond-buying program. That stimulus was a major support for last year's rally in stocks.

Despite Tuesday's gains, stocks have started the year off on uncertain footing. Materials companies have declined 1.6 percent so far this year, led by Cliffs Natural Resources. The mining company, which was the second-biggest loser in the S&P 500 last year, is extending its slump. It's down 7 percent this year.

Manufacturers and vendors of consumer staples, such as grocers, tobacco companies and brewers, have also struggled in the first few days of this year. They're down 1.2 percent.

In government bond trading, the yield on the 10-year Treasury note fell to 2.94 percent from 2.96 percent Monday.

The most important piece of economic news to be released this week will come on Friday when the Labor Department releases its jobs report for December. The report will influence the Fed's decision on how quickly it will reduces its bond purchases in the coming months.

Among the biggest losers on Tuesday was Netflix.

The online video streaming company, the biggest gainer in the S&P 500 last year, fell $20.07, or 7.8 percent, to $339.50, after analysts at Morgan Stanley cut their outlook on the stock to "underweight." The brokerage says the online video service will face increasing competition from services such as Hulu Plus, Amazon Prime and HBO GO.

Mattel also dropped. The toy maker fell 58 cents, or 1.2 percent, to $46.04, after analysts at Goldman Sachs advised their clients to sell the stock. Goldman is predicting that the company's earnings will struggle to match expectations as sales stagnate.

In commodities trading, the price of oil rose 24 cents, or 0.3 percent, to $93.67 a barrel. Gold fell $8.40, or 0.7 percent, to $1,229.60 an ounce.


----------



## MARKETWINNER

It is interesting to see DOW is trading above 16500 again. Still market has a leg.We could expect moderate returns from stocks depend on the strategy we apply to pick stocks. Even in DOW some stocks and sectors could outperform others. Overvalued markets and sectors could have corrections and undervalued markets and sectors could have bull markets in 2014.

My ideas are not a recommendation to either buy or sell any security, commodity or currency. Please do your own research prior to making any investment decisions.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market stumbled Wednesday as investors waited for the government's jobs report later this week and the beginning of quarterly earnings releases from corporate America.

Traders put aside a positive report that showed private employers created more jobs in December than economists had expected. The market had a muted reaction to the minutes from the Federal Reserve's mid-December policy meeting.

Wednesday's declines extend what has been a muddled start to 2014. Both the Dow Jones industrial average and the Standard & Poor's 500 index are down a little less than 1 percent after five days of trading.

The tough start should be taken in context of last year's exceptional performance, when the S&P 500 surged almost 30 percent.

After bidding up companies' stock prices to record levels last year, investors are ready to see if their bets are going to pay off. Big, publicly traded U.S. companies will start reporting their quarterly financial results Thursday.

"The question is whether this strengthening economy is translating into stronger corporate earnings," said Russ Koesterich, global chief investment strategist at the investment firm BlackRock.

Dow member and oil giant Chevron will report after the closing bell Thursday, as well as former Dow member and aluminum company Alcoa. Next week investors will have results from Goldman Sachs, JPMorgan Chase, General Electric and American Express.

"Earnings will determine what's next for the stock market," said Lawrence Creatura, a portfolio manager with Federated Investors.

Another theme on investors' agendas is jobs.

A private survey released Wednesday showed U.S. businesses added the most jobs in a year in December, powered by a big gain in construction work. Payroll processor ADP said companies added 238,000 jobs in December, better than the 200,000 economists predicted.

The ADP data sets the stage for Friday's government jobs report. Investors expect the U.S. economy created 190,000 jobs last month and the unemployment rate remained steady at 7 percent.

The Dow lost 68.20 points, or 0.4 percent, to 16,462.74. The losses erased more than half of the 105-point gain the index had on Tuesday.

The S&P 500 fell 0.39 points, or less than 0.1 percent, to 1,837.49 and the Nasdaq composite rose 12.43 points, or 0.3 percent, to 4,165.61.

S&P Capital IQ's Alec Young said he expects the stock market will "churn" at these levels into next week, once investors have earnings and Friday's jobs report to analyze.								

 *The NYSE DOW closed  	LOWER ▼	-68.2	points or ▼	-0.41%	on	Wednesday, 8 January 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16462.74	▼	-68.2	▼	-0.41%		
	Nasdaq___	4165.61	▲	12.43	▲	0.30%		
	S&P_500__	1837.49	▼	-0.39	▼	-0.02%		
	30_Yr_Bond	3.9	▲	0.02	▲	0.57%		

NYSE Volume	 3,641,150,500 	 	 	 	 	  		 
Nasdaq Volume	 2,328,008,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6721.78	▼	-33.67	▼	-0.50%		
	DAX_____	9497.84	▼	-8.36	▼	-0.09%		
	CAC_40__	4260.96	▼	-1.72	▼	-0.04%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5318.7	▼	-0.1	▲	0.00%		
	Shanghai_Comp	2044.34	▼	-2.98	▼	-0.15%		
	Taiwan_Weight	8556.01	▲	43.71	▲	0.51%		
	Nikkei_225____	16121.45	▲	307.08	▲	1.94%		
	Hang_Seng____	22996.59	▲	283.81	▲	1.25%		
	Strait_Times___	3150.65	▲	29.77	▲	0.95%		
	NZX_50_Index__	4779.8	▲	20.18	▲	0.42%		

http://finance.yahoo.com/news/stocks-slip-sluggish-start-2014-213941289.html

*Stocks slip as a sluggish start to 2014 drags on

US stocks edge mostly lower as investors look ahead to jobs report, corporate earnings news*

By Ken Sweet, AP Markets Writer 

The stock market stumbled Wednesday as investors waited for the government's jobs report later this week and the beginning of quarterly earnings releases from corporate America.

Traders put aside a positive report that showed private employers created more jobs in December than economists had expected. The market had a muted reaction to the minutes from the Federal Reserve's mid-December policy meeting.

Wednesday's declines extend what has been a muddled start to 2014. Both the Dow Jones industrial average and the Standard & Poor's 500 index are down a little less than 1 percent after five days of trading.

The tough start should be taken in context of last year's exceptional performance, when the S&P 500 surged almost 30 percent.

After bidding up companies' stock prices to record levels last year, investors are ready to see if their bets are going to pay off. Big, publicly traded U.S. companies will start reporting their quarterly financial results Thursday.

"The question is whether this strengthening economy is translating into stronger corporate earnings," said Russ Koesterich, global chief investment strategist at the investment firm BlackRock.

Dow member and oil giant Chevron will report after the closing bell Thursday, as well as former Dow member and aluminum company Alcoa. Next week investors will have results from Goldman Sachs, JPMorgan Chase, General Electric and American Express.

"Earnings will determine what's next for the stock market," said Lawrence Creatura, a portfolio manager with Federated Investors.

Another theme on investors' agendas is jobs.

A private survey released Wednesday showed U.S. businesses added the most jobs in a year in December, powered by a big gain in construction work. Payroll processor ADP said companies added 238,000 jobs in December, better than the 200,000 economists predicted.

The ADP data sets the stage for Friday's government jobs report. Investors expect the U.S. economy created 190,000 jobs last month and the unemployment rate remained steady at 7 percent.

The Dow lost 68.20 points, or 0.4 percent, to 16,462.74. The losses erased more than half of the 105-point gain the index had on Tuesday.

The S&P 500 fell 0.39 points, or less than 0.1 percent, to 1,837.49 and the Nasdaq composite rose 12.43 points, or 0.3 percent, to 4,165.61.

S&P Capital IQ's Alec Young said he expects the stock market will "churn" at these levels into next week, once investors have earnings and Friday's jobs report to analyze.

In company news:

Ford rose 16 cents, or 1 percent, to $15.54 after CEO Alan Mulally said he would not leave to run Microsoft. Mulally was considered a top candidate for the position, having led the turnaround for Ford turning the financial crisis.

Forest Labs jumped $10.54, or 18 percent, to $69.30 after the company said it would buy Aptalis, which specializes in treatments for gastrointestinal problems and cystic fibrosis, for $2.9 billion in cash.

Macy's jumped in after-hours trading after the company said late Wednesday that it would lay off 2,500 workers as it restructures its business. The stock rose $3.21, or 6 percent, to $55.05.


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market wavered for a second day Thursday as investors weighed disappointing news from the retail industry against more positive signals on the U.S. economy.

Investors were looking ahead to Friday's jobs report, as well as the start of corporate earnings season.

Retailers were among the hardest hit stocks on Thursday.

Bed Bath & Beyond plunged $9.93, or 13 percent, to $69.75 and Family Dollar fell $1.37, or 2 percent, to $64.97, making them the biggest decliners in the S&P 500. Both companies cut their earnings forecasts following a disappointing holiday season.

The reports of tepid sales disappointed investors, who have been seeing signs for several weeks that the U.S. economy was improving and that shoppers were returning to the malls.

It appears that the economy, while improving, still has some weak spots.

L Brands, which owns Bath and Body Works and Victoria's Secret, reported that its sales rose less than analysts had expected. The company also cut its full-year outlook, echoing Bed Bath and Beyond and Family Dollar. L Brands fell $2.44, or 4 percent, to $57.75.

"The consumers are supposed to be the fuel of this economy, and it doesn't appear to be happening," said Ian Winer, director of trading for Wedbush Securities. "If they're not spending money at the retailers, what's going on?"

Even the bright spots in the retail industry had caveats. Department store giant Macy's jumped $3.96, or 8 percent, to $55.80 after the company forecast a 2014 profit that was above Wall Street's forecasts. At the same time, Macy's said it would eliminate 2,500 jobs as part of a reorganization that aims to save $100 million a year.

At the close of trading, the Dow Jones industrial average fell 17.98 points, or 0.1 percent, to 16,444.76. The S&P 500 added 0.64 points, or less than 0.1 percent, to 1,838.13 and the Nasdaq composite lost 9.42 points, or 0.2 percent, to 4,156.19.

The disappointing news from retailers was more than enough to offset another positive report on the U.S. economy.

The number of Americans seeking unemployment benefits fell by 15,000 last week to 330,000. The drop was slightly bigger than economists predicted, according to FactSet, a financial data provider. The claims report sets the stage for the government jobs report for December, which will be released Friday morning. Economists expect employers added 196,000 jobs last month.								

 *The NYSE DOW closed  	LOWER ▼	-17.98	points or ▼	-0.11%	on	Thursday, 9 January 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16444.76	▼	-17.98	▼	-0.11%		
	Nasdaq___	4156.19	▼	-9.42	▼	-0.23%		
	S&P_500__	1838.13	▲	0.64	▲	0.03%		
	30_Yr_Bond	3.87	▼	-0.03	▼	-0.77%		

NYSE Volume	 3,565,407,500 	 	 	 	 	  		 
Nasdaq Volume	 2,202,563,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6691.34	▼	-30.44	▼	-0.45%		
	DAX_____	9421.61	▼	-76.23	▼	-0.80%		
	CAC_40__	4225.14	▼	-35.82	▼	-0.84%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5327.5	▲	8.8	▲	0.17%		
	Shanghai_Comp	2027.62	▼	-16.72	▼	-0.82%		
	Taiwan_Weight	8514.68	▼	-41.33	▼	-0.48%		
	Nikkei_225____	15880.33	▼	-241.12	▼	-1.50%		
	Hang_Seng____	22787.33	▼	-209.26	▼	-0.91%		
	Strait_Times___	3145.41	▼	-5.24	▼	-0.17%		
	NZX_50_Index__	4814.87	▲	35.07	▲	0.73%		

http://finance.yahoo.com/news/mixed-close-wall-street-p-214758953.html

*A mixed close on Wall Street; S&P 500 edges up

Stocks mixed after retailers cut earnings outlooks; S&P 500 ekes out its second gain of 2014*

By Ken Sweet, AP Markets Writer

The stock market wavered for a second day Thursday as investors weighed disappointing news from the retail industry against more positive signals on the U.S. economy.

Investors were looking ahead to Friday's jobs report, as well as the start of corporate earnings season.

Retailers were among the hardest hit stocks on Thursday.

Bed Bath & Beyond plunged $9.93, or 13 percent, to $69.75 and Family Dollar fell $1.37, or 2 percent, to $64.97, making them the biggest decliners in the S&P 500. Both companies cut their earnings forecasts following a disappointing holiday season.

The reports of tepid sales disappointed investors, who have been seeing signs for several weeks that the U.S. economy was improving and that shoppers were returning to the malls.

It appears that the economy, while improving, still has some weak spots.

L Brands, which owns Bath and Body Works and Victoria's Secret, reported that its sales rose less than analysts had expected. The company also cut its full-year outlook, echoing Bed Bath and Beyond and Family Dollar. L Brands fell $2.44, or 4 percent, to $57.75.

"The consumers are supposed to be the fuel of this economy, and it doesn't appear to be happening," said Ian Winer, director of trading for Wedbush Securities. "If they're not spending money at the retailers, what's going on?"

Even the bright spots in the retail industry had caveats. Department store giant Macy's jumped $3.96, or 8 percent, to $55.80 after the company forecast a 2014 profit that was above Wall Street's forecasts. At the same time, Macy's said it would eliminate 2,500 jobs as part of a reorganization that aims to save $100 million a year.

At the close of trading, the Dow Jones industrial average fell 17.98 points, or 0.1 percent, to 16,444.76. The S&P 500 added 0.64 points, or less than 0.1 percent, to 1,838.13 and the Nasdaq composite lost 9.42 points, or 0.2 percent, to 4,156.19.

The disappointing news from retailers was more than enough to offset another positive report on the U.S. economy.

The number of Americans seeking unemployment benefits fell by 15,000 last week to 330,000. The drop was slightly bigger than economists predicted, according to FactSet, a financial data provider. The claims report sets the stage for the government jobs report for December, which will be released Friday morning. Economists expect employers added 196,000 jobs last month.

In company news, Ford rose 30 cents, or 2 percent, to $15.84 after announcing an increase in its quarterly dividend to 12.5 cents per share from 10 cents per share. The news came a day after the stock gained 1 percent on word that Ford's widely respected CEO, Alan Mulally, would not leave to run Microsoft.


----------



## bigdog

Source: http://finance.yahoo.com 

It was a fluke.

That was the conclusion investors reached about the U.S. government's latest jobs report, which showed a sharp decline in hiring last month. Stock indexes ended mostly higher after wavering for much of the day.

The gains were minuscule, however, and there were a number of signs that investors were being cautious. Prices rose for bonds and gold, traditional "go-to" assets for nervous investors. Utilities and other kinds of low-risk, high-dividend stocks also rose as investors sought safe places to park money.

"We need to see more evidence before concluding that all the other (economic) indicators are wrong and the jobs data is correct," said Kate Warne, a market strategist with Edward Jones.

The Dow Jones Industrial average fell 7.71 points, or less than 0.1 percent, to 16,437.05. If not for a slump in Chevron, which reported a decline in oil and gas production late Thursday, the index would have risen slightly.

The Standard & Poor's 500 index rose 4.24 points, or 0.2 percent, to 1,842.37 and the Nasdaq composite rose 18.47 points, or 0.4 percent, to 4,174.66.

The Labor Department said that only 74,000 jobs were added to payrolls in December, the least in three years and far fewer than economists expected. The unemployment rate fell, but mostly because many people stopped looking for work, the government said.

The December jobs survey stands in contrast to weeks of reports consistent with a steadily strengthening economy. U.S. companies are selling record levels of goods overseas; Americans are buying more big items like cars and appliances and layoffs have dwindled. As recently as Wednesday, the payroll processor ADP said private businesses created 238,000 jobs in December.

If the recent U.S. economic picture were a jigsaw puzzle, the jobs report is the piece that didn't fit.

"The investor base was completely shocked with how especially weak the numbers were," said Tom di Galoma, who heads up bond trading at ED&F Man Capital.

Market strategists blamed the bad jobs data on everything from the unseasonably cold weather in December to the fact that Thanksgiving came later than usual. Few believed the economic recovery is slowing down.

Cautious investors took the data as a reason to retreat into safer investments.

On average, Wall Street is looking for corporate earnings to be around 6 percent higher than they were last year.								

 *The NYSE DOW closed  	LOWER ▼	-7.71	points or ▼	-0.05%	on	Friday, 10 January 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16437.05	▼	-7.71	▼	-0.05%		
	Nasdaq___	4174.66	▲	18.47	▲	0.44%		
	S&P_500__	1842.37	▲	4.24	▲	0.23%		
	30_Yr_Bond	3.8	▼	-0.08	▼	-1.99%		

NYSE Volume	 3,325,712,500 	 	 	 	 	  		 
Nasdaq Volume	 2,122,605,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6739.94	▲	48.6	▲	0.73%		
	DAX_____	9473.24	▲	51.63	▲	0.55%		
	CAC_40__	4250.6	▲	25.46	▲	0.60%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5316.3	▼	-11.2	▼	-0.21%		
	Shanghai_Comp	2013.3	▼	-14.32	▼	-0.71%		
	Taiwan_Weight	8529.35	▲	14.67	▲	0.17%		
	Nikkei_225____	15912.06	▲	31.73	▲	0.20%		
	Hang_Seng____	22846.25	▲	58.92	▲	0.26%		
	Strait_Times___	3143.87	▼	-1.54	▼	-0.05%		
	NZX_50_Index__	4864.39	▲	49.52	▲	1.03%		

http://finance.yahoo.com/news/stocks-rise-investors-dismiss-job-215552552.html

*Stocks rise as investors dismiss job report

Stocks edge mostly higher as investors dismiss a disappointing jobs report; Alcoa, Target sink*

By Ken Sweet, AP Markets Reporter

It was a fluke.

That was the conclusion investors reached about the U.S. government's latest jobs report, which showed a sharp decline in hiring last month. Stock indexes ended mostly higher after wavering for much of the day.

The gains were minuscule, however, and there were a number of signs that investors were being cautious. Prices rose for bonds and gold, traditional "go-to" assets for nervous investors. Utilities and other kinds of low-risk, high-dividend stocks also rose as investors sought safe places to park money.

"We need to see more evidence before concluding that all the other (economic) indicators are wrong and the jobs data is correct," said Kate Warne, a market strategist with Edward Jones.

The Dow Jones Industrial average fell 7.71 points, or less than 0.1 percent, to 16,437.05. If not for a slump in Chevron, which reported a decline in oil and gas production late Thursday, the index would have risen slightly.

The Standard & Poor's 500 index rose 4.24 points, or 0.2 percent, to 1,842.37 and the Nasdaq composite rose 18.47 points, or 0.4 percent, to 4,174.66.

The Labor Department said that only 74,000 jobs were added to payrolls in December, the least in three years and far fewer than economists expected. The unemployment rate fell, but mostly because many people stopped looking for work, the government said.

The December jobs survey stands in contrast to weeks of reports consistent with a steadily strengthening economy. U.S. companies are selling record levels of goods overseas; Americans are buying more big items like cars and appliances and layoffs have dwindled. As recently as Wednesday, the payroll processor ADP said private businesses created 238,000 jobs in December.

If the recent U.S. economic picture were a jigsaw puzzle, the jobs report is the piece that didn't fit.

"The investor base was completely shocked with how especially weak the numbers were," said Tom di Galoma, who heads up bond trading at ED&F Man Capital.

Market strategists blamed the bad jobs data on everything from the unseasonably cold weather in December to the fact that Thanksgiving came later than usual. Few believed the economic recovery is slowing down.

Cautious investors took the data as a reason to retreat into safer investments.

Bond prices rose, sending yields lower. The yield on the 10-year Treasury note fell to 2.87 percent from 2.97 percent the day before.

Utility stocks were among the biggest gainers as investors looked to pull back on risk. The Dow Jones utility average, a basket of 15 utility companies, rose 1.3 percent. Consolidated Edison, Pacific Gas & Electric, and Edison International were all up roughly 1 percent or more.

Even gold prices went up, after having a difficult 2013. Gold rose $17.50, or 1.4 percent, to $1,246.90 an ounce on the New York Mercantile Exchange.

With Wall Street treating the December jobs data as an aberration, the place investors will look next for guidance will be corporate earnings. Investors spent the second half of 2013 bidding up stock price to historic highs in hopes that the U.S. economic recovery would translate into higher profits.

"What really needs to come through this year is earnings growth," said Steve Rees, head U.S. equity strategy for JPMorgan Private Bank.

On average, Wall Street is looking for corporate earnings to be around 6 percent higher than they were last year.

Very few companies have reported their latest quarterly earnings, but so far the results have not been promising.

Alcoa, the giant aluminum company, said Thursday it had a $2.34 billion fourth-quarter loss due to low aluminum prices. The stock slumped the most in the S&P 500 index, losing 58 cents, or 5.4 percent, to $10.11.

Target dropped after cutting its fourth-quarter earnings forecast, saying a recent data security breach caused customers to shop elsewhere during the holidays. Target fell 72 cents, or 1 percent, to $62.62.

The pace of earnings releases will pick up next week. JPMorgan Chase, American Express, General Electric and Goldman Sachs are among the companies that will report results. That will give the market broader array of data to look at before concluding that the U.S. economic recovery may be slowing.

"That's going to give more insight than that one odd jobs number," said Dean Junkans, chief investment officer with Wells Fargo Private Bank.

0987


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market had its worst day of the year so far, extending a January slump.

Stocks dropped Monday as falling oil prices pushed down energy stocks. The prospect of the Federal Reserve further cutting back on its economic stimulus also weighed on the market.

Stocks are falling back this year after exceptional gains pushed the market to record levels in 2013. Investors' confidence that the economy was recovering was jolted Friday by a weak employment report that showed far fewer jobs were added in December than economists had forecast.

Unlike last year, investors have so far been reluctant to buy stocks when the market has slumped. Instead they appear to be waiting for more news before committing, said Peter Cardillo, chief market economist at Rockwell Global Capital.

"At these high levels, people aren't going to step in" until they get more evidence of earnings growth or better economic news, Cardillo said. "Until that happens, who's going to step up to the plate?"

The Standard & Poor's 500 index dropped 23.17 points, or 1.3 percent, to 1,819.20, the biggest decline for the index since Nov. 7. After surging almost 30 percent last year, the S&P 500 index is down 1.6 percent in January.

The Dow Jones industrial average fell 179.11 points, or 1.1 percent, to 16,257.94. The Nasdaq composite dropped 61.36 points, or 1.5 percent, to 4,113.30.

All 10 sectors in the S&P 500 fell.

Energy stocks were among the biggest decliners, dropping 1.9 percent after the price of oil slumped close to its lowest in eight months. Exxon Mobil fell $1.97, or 2 percent, to $98.55.

Oil fell 92 cents, or 1 percent, to $91.80 a barrel as Libyan production continued to ramp up and the possibility of increased crude exports from Iran raised the prospects of excess supply on global markets.

Investors are also worried about more cuts to the Federal Reserve's big economic stimulus program.

Dennis Lockhart, the President of the Federal Reserve's Atlanta branch, said Monday that he would support further cuts "over the course of this year" if the economy continued to improve. Policymakers said in December that they intended to reduce their purchases of bonds by $10 billion a month to $75 billion a month. The Fed's stimulus was a key driver of the market's rally last year.

For many investors, the focus this week will be on company earnings.						

 *The NYSE DOW closed  	LOWER ▼	-179.11	points or ▼	-1.09%	on	Monday, 13 January 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16257.94	▼	-179.11	▼	-1.09%		
	Nasdaq___	4113.3	▼	-61.36	▼	-1.47%		
	S&P_500__	1819.2	▼	-23.17	▼	-1.26%		
	30_Yr_Bond	3.77	▼	-0.03	▼	-0.76%		

NYSE Volume	 3,569,839,500 	 	 	 	 	  		 
Nasdaq Volume	 2,293,758,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6757.15	▲	17.21	▲	0.26%		
	DAX_____	9510.17	▲	36.93	▲	0.39%		
	CAC_40__	4263.27	▲	12.67	▲	0.30%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5296.8	▼	-19.5	▼	-0.37%		
	Shanghai_Comp	2009.56	▼	-3.73	▼	-0.19%		
	Taiwan_Weight	8566.2	▲	36.85	▲	0.43%		
	Nikkei_225____	15912.06	▲	31.73	▲	0.20%		
	Hang_Seng____	22888.76	▲	42.51	▲	0.19%		
	Strait_Times___	3135.49	▼	-8.38	▼	-0.27%		
	NZX_50_Index__	4899.4	▲	35.01	▲	0.72%		

http://finance.yahoo.com/news/stocks-slump-most-two-months-213827710.html

*Stocks slump the most in two months on Wall Street

Stocks fall most in two months as a weak start to 2014 drags on; Energy sector slides*

By Steve Rothwell, AP Markets Writer

The stock market had its worst day of the year so far, extending a January slump.

Stocks dropped Monday as falling oil prices pushed down energy stocks. The prospect of the Federal Reserve further cutting back on its economic stimulus also weighed on the market.

Stocks are falling back this year after exceptional gains pushed the market to record levels in 2013. Investors' confidence that the economy was recovering was jolted Friday by a weak employment report that showed far fewer jobs were added in December than economists had forecast.

Unlike last year, investors have so far been reluctant to buy stocks when the market has slumped. Instead they appear to be waiting for more news before committing, said Peter Cardillo, chief market economist at Rockwell Global Capital.

"At these high levels, people aren't going to step in" until they get more evidence of earnings growth or better economic news, Cardillo said. "Until that happens, who's going to step up to the plate?"

The Standard & Poor's 500 index dropped 23.17 points, or 1.3 percent, to 1,819.20, the biggest decline for the index since Nov. 7. After surging almost 30 percent last year, the S&P 500 index is down 1.6 percent in January.

The Dow Jones industrial average fell 179.11 points, or 1.1 percent, to 16,257.94. The Nasdaq composite dropped 61.36 points, or 1.5 percent, to 4,113.30.

All 10 sectors in the S&P 500 fell.

Energy stocks were among the biggest decliners, dropping 1.9 percent after the price of oil slumped close to its lowest in eight months. Exxon Mobil fell $1.97, or 2 percent, to $98.55.

Oil fell 92 cents, or 1 percent, to $91.80 a barrel as Libyan production continued to ramp up and the possibility of increased crude exports from Iran raised the prospects of excess supply on global markets.

Investors are also worried about more cuts to the Federal Reserve's big economic stimulus program.

Dennis Lockhart, the President of the Federal Reserve's Atlanta branch, said Monday that he would support further cuts "over the course of this year" if the economy continued to improve. Policymakers said in December that they intended to reduce their purchases of bonds by $10 billion a month to $75 billion a month. The Fed's stimulus was a key driver of the market's rally last year.

For many investors, the focus this week will be on company earnings.

JPMorgan Chase, Wells Fargo and Bank of America are among the big banks that are scheduled report fourth-quarter earnings this week. Best Buy and General Electric are among the non-financial companies that will report earnings.

"The market will take its direction from how well, or how poorly, corporate earnings season is unfolding," said Phil Orlando, chief equity market strategist at Federated Investors. "I think we're setting up for a positive surprise."

Analysts expect fourth-quarter earnings to rise by 5.3 percent for S&P 500 companies, according to S&P Capital IQ. That would be a slight drop from the 5.7 percent rate in the previous quarter.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.83 percent from 2.85 percent on Friday.

Among other stocks making big moves:

”” Lululemon Athletica fell $9.90, or 16.6 percent, to $49.70 after the high-end yoga apparel maker said sales have dropped off in January and its fourth-quarter results will be lower than expected.

”” Scripps Networks slumped $5.70, or 7 percent, to $76.31 after the Wall Street Journal reported that talks about a merger between the cable network operator, which owns HGTV, and Discovery Communications had ended.

”” Beam, the maker of Jim Beam, Maker's Mark and other liquors, jumped $16.45, or 24.6 percent, to $83.42 after the company announced that it had agreed to be acquired by Japan's Suntory for $14 billion.


----------



## bigdog

Source: http://finance.yahoo.com 

The good followed the bad for the stock market on Tuesday.

One day after logging its worst performance of the year, the stock market bounced back with its best day of 2014. The Standard & Poor's 500 index climbed more than 1 percent, erasing most of its loss from a day earlier.

Technology stocks led the gains as Wall Street analysts raised their assessments of Intel and electronics company Jabil Circuit.

A report on retail sales also boosted investor confidence. Excluding spending on autos, gas and building supplies, sales increased 0.7 percent in December, the Commerce Department reported Tuesday. That was better than the increase of 0.4 percent forecast by economists.

While the rise in December sales was modest, it helped ease investors' concerns about the health of the economy after a surprisingly weak jobs report was published on Friday.

"This is a preview of what 2014 will be like...it's going to be more volatile than it was last year," said Andres Garcia-Amaya, a global market strategist at JPMorgan Funds. "The market's bouncing back and saying the world's not ending, things are pointing in the right direction."

The S&P 500 index gained 19.68 points, or 1.1 percent, to 1,838.88, its biggest gain since Dec. 18.

The Dow Jones industrial average rose 115.92 points, or 0.7 percent, to close at 16,373.86, just below of its high of the day. The Nasdaq composite rose 69.71 points, or 1.7 percent, to 4,183.02.

Technology companies rose 1.9 percent, the most of the 10 sectors that make up the S&P 500.

Intel climbed $1.01, or 4 percent, to $26.51 after analysts at JPMorgan raised their rating on the chipmaker's stock and predicted that demand for PCs will stabilize this year and that the company's CEO will focus on improving margins and returns.

Jabil Circuit jumped $1.30, or 7.8 percent, to $17.89 after Goldman Sachs recommended buying the stock of the electronics company, forecasting that its earnings next year could be better than most analysts are expecting.

Stocks have had a sluggish start to the year after an exceptional 2013. The S&P 500 is down 0.5 percent in January after climbing nearly 30 percent last year.

Despite the slow start, many investors remain optimistic that stocks will end this year higher as well, and that the current slump will wind up being a pause rather than a collapse.

"Valuations have been certainly been pushed higher, so (stocks) are no longer cheap," said Eric Wiegand, senior portfolio manager at U.S. Bank Wealth Management. "But we would contend that they are still fair." 								

 *The NYSE DOW closed  	HIGHER ▲	115.92	points or ▲	0.71%	on	Tuesday, 14 January 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16373.86	▲	115.92	▲	0.71%		
	Nasdaq___	4183.02	▲	69.71	▲	1.69%		
	S&P_500__	1838.88	▲	19.68	▲	1.08%		
	30_Yr_Bond	3.8	▲	0.03	▲	0.88%		

NYSE Volume	 3,330,621,750 	 	 	 	 	  		 
Nasdaq Volume	 2,008,633,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6766.86	▲	9.71	▲	0.14%		
	DAX_____	9540.51	▲	30.34	▲	0.32%		
	CAC_40__	4274.2	▲	10.93	▲	0.26%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5219.8	▼	-77	▼	-1.45%		
	Shanghai_Comp	2026.84	▲	17.28	▲	0.86%		
	Taiwan_Weight	8548.14	▼	-18.06	▼	-0.21%		
	Nikkei_225____	15422.4	▼	-489.66	▼	-3.08%		
	Hang_Seng____	22791.28	▼	-97.48	▼	-0.43%		
	Strait_Times___	3123.75	▼	-11.74	▼	-0.37%		
	NZX_50_Index__	4865.16	▼	-34.24	▼	-0.70%		

http://finance.yahoo.com/news/us-stocks-bounce-back-day-212858659.html

*US stocks bounce back a day after big loss

Stocks bounce back to log biggest advance of the year; Technology stocks lead the gains*

By Steve Rothwell, AP Markets Writer 

The good followed the bad for the stock market on Tuesday.

One day after logging its worst performance of the year, the stock market bounced back with its best day of 2014. The Standard & Poor's 500 index climbed more than 1 percent, erasing most of its loss from a day earlier.

Technology stocks led the gains as Wall Street analysts raised their assessments of Intel and electronics company Jabil Circuit.

A report on retail sales also boosted investor confidence. Excluding spending on autos, gas and building supplies, sales increased 0.7 percent in December, the Commerce Department reported Tuesday. That was better than the increase of 0.4 percent forecast by economists.

While the rise in December sales was modest, it helped ease investors' concerns about the health of the economy after a surprisingly weak jobs report was published on Friday.

"This is a preview of what 2014 will be like...it's going to be more volatile than it was last year," said Andres Garcia-Amaya, a global market strategist at JPMorgan Funds. "The market's bouncing back and saying the world's not ending, things are pointing in the right direction."

The S&P 500 index gained 19.68 points, or 1.1 percent, to 1,838.88, its biggest gain since Dec. 18.

The Dow Jones industrial average rose 115.92 points, or 0.7 percent, to close at 16,373.86, just below of its high of the day. The Nasdaq composite rose 69.71 points, or 1.7 percent, to 4,183.02.

Technology companies rose 1.9 percent, the most of the 10 sectors that make up the S&P 500.

Intel climbed $1.01, or 4 percent, to $26.51 after analysts at JPMorgan raised their rating on the chipmaker's stock and predicted that demand for PCs will stabilize this year and that the company's CEO will focus on improving margins and returns.

Jabil Circuit jumped $1.30, or 7.8 percent, to $17.89 after Goldman Sachs recommended buying the stock of the electronics company, forecasting that its earnings next year could be better than most analysts are expecting.

Stocks have had a sluggish start to the year after an exceptional 2013. The S&P 500 is down 0.5 percent in January after climbing nearly 30 percent last year.

Despite the slow start, many investors remain optimistic that stocks will end this year higher as well, and that the current slump will wind up being a pause rather than a collapse.

"Valuations have been certainly been pushed higher, so (stocks) are no longer cheap," said Eric Wiegand, senior portfolio manager at U.S. Bank Wealth Management. "But we would contend that they are still fair."

Investors were also watching results from two big banks. JPMorgan Chase, the nation's biggest bank by assets, rose 4 cents, or 0.1 percent, to $57.74 after reporting gains in most of its divisions except for investment banking.

Wells Fargo rose 3 cents, or 0.1 percent, to $45.59 after the nation's biggest mortgage lender reported a sharp drop in its mortgage business even as its bottom-line income rose 11 percent.

The outlook for bank earnings should improve as the economy strengthens said, Jerry Braakman, chief investment officer at First American Trust. Banks should also get a lift as long-term interest rates rise, helping them to lift the margins on their lending, he said.

The yield on the 10-year note climbed to 2.87 percent from 2.83 percent on Monday as investors sold bonds.

In commodities trading, the price of oil climbed 79 cents, or 0.9 percent, to $92.59. Gold fell $5.70, or 0.5 percent, to $1,245.40 an ounce.

Among other stocks making big moves:

”” Time Warner Cable rose $3.60, or 2.7 percent, to $136 after Charter Communications intensified its pursuit of the company. Charter said Monday it would bring an offer directly to shareholders if needed after getting rebuffed by Time Warner Cable's management.

”” Intuitive Surgical jumped $26.81, or 6.8 percent, to $419.88 after the company said it will report revenue in the fourth quarter that is higher than Wall Street analysts are forecasting, as procedures performed with its robotic da Vinci system increased.

”” GameStop plunged $9.01, or 20 percent, to $36.31 after the world's largest video game retailer gave a profit forecast that fell below Wall Street's expectations for its crucial holiday quarter, despite higher-than-expected sales.


----------



## bigdog

Source: http://finance.yahoo.com 

 It was a stock market squeaker.

After piercing its all-time high in early trading, then yo-yoing below and above that level several times during the day, the Standard and Poor's 500 index on Wednesday managed to eke out a record at the close, besting the old one by just two-hundredths of a point.

Financial and technology companies had some of the biggest gains. Bank stocks rose after Bank of America reported that its profit surged to $3.44 billion in the fourth quarter. Apple was up nearly 2 percent.

Investors have been worried stocks would stall in the new year after a surge of nearly 30 percent in the S&P 500 last year. The first few trading days in 2014 seemed to confirm their fears. As of the close of trading Monday, the S&P 500 was down 1.6 percent.

But a combination of positive economic reports and strong earnings on Wednesday sent all three major indexes higher.

The S&P 500 gained 9.50 points, or 0.52 percent, to 1,848.38. The last closing high was 1,848.36 on Dec. 31, 2013. With Wednesday's rise, the index is now basically flat for the year. In 2013 the S&P 500 closed at record highs 45 times.

The Dow Jones industrial average closed up 108.08 points, or 0.7 percent, to 16,481.94. It is 94.72 points from its closing high, just one good up day away. The Nasdaq composite rose 31.87 points, or 0.76 percent, to 4,214.88. The tech-heavy index is still 16 percent below its high during the dot-com bubble more than a decade ago.

Bank of America climbed 2.3 percent after it reported a jump in earnings. The loans on its balance sheet continue to improve, and the bank's provision for credit losses fell to $336 million, from $2.2 billion in the same period a year earlier. Even its mortgage division, which took huge losses after the housing bubble popped, improved.

Apple rose 2 percent, and Microsoft by 2.7 percent. On Friday, Apple plans to start selling its iPhone in China through China Mobile, the world's largest cellphone carrier.

Seven of the 10 industries in the S&P 500 closed higher, led by telecommunications, information technology and financial services. The three were each up more than 1 percent.

Whether stocks can climb more in the coming days depends partly on corporate earnings reports now coming out for the fourth quarter of last year. Companies reporting on Thursday include Goldman Sachs, Citigroup, American Express and Intel.

After years of squeezing more and more profit out of every dollar of revenue, companies will have to lift that top line to hit their earnings targets for this year, said Joseph S. Tanious, global market strategist at JPMorgan. But he's optimistic. "You will see strong revenue growth," he said.

Tanious said a 4 percent to 6 percent increase in S&P 500 earnings per share this year shouldn't be "too difficult."

Financial analysts expect S&P 500 earnings per share to increase 5.6 percent for the fourth quarter, and 9.8 percent for all four quarters of the new year, according to S&P Capital IQ. Revenue growth for both periods is expected to be half the earnings growth.

Stocks were also pushed higher Wednesday by some encouraging economic reports. 								

 *The NYSE DOW closed  	HIGHER ▲	108.08	points or ▲	0.66%	on	Wednesday, 15 January 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16481.94	▲	108.08	▲	0.66%		
	Nasdaq___	4214.88	▲	31.87	▲	0.76%		
	S&P_500__	1848.38	▲	9.5	▲	0.52%		
	30_Yr_Bond	3.81	▲	0.01	▲	0.16%		

NYSE Volume	 3,749,217,750 	 	 	 	 	  		 
Nasdaq Volume	 2,076,609,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6819.86	▲	53	▲	0.78%		
	DAX_____	9733.81	▲	193.3	▲	2.03%		
	CAC_40__	4332.07	▲	57.87	▲	1.35%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5255.5	▲	35.7	▲	0.68%		
	Shanghai_Comp	2023.35	▼	-3.49	▼	-0.17%		
	Taiwan_Weight	8602.55	▲	54.41	▲	0.64%		
	Nikkei_225____	15808.73	▲	386.33	▲	2.50%		
	Hang_Seng____	22902	▲	110.72	▲	0.49%		
	Strait_Times___	3143.25	▲	19.5	▲	0.62%		
	NZX_50_Index__	4913.03	▲	47.88	▲	0.98%		

http://finance.yahoo.com/news/p-500-finishes-above-time-215203499.html

*S&P 500 finishes above all-time closing high

S&P 500 finishes above all-time closing high; Bank of America climbs after profit jumps*

By Bernard Condon, AP Business Writer 

 It was a stock market squeaker.

After piercing its all-time high in early trading, then yo-yoing below and above that level several times during the day, the Standard and Poor's 500 index on Wednesday managed to eke out a record at the close, besting the old one by just two-hundredths of a point.

Financial and technology companies had some of the biggest gains. Bank stocks rose after Bank of America reported that its profit surged to $3.44 billion in the fourth quarter. Apple was up nearly 2 percent.

Investors have been worried stocks would stall in the new year after a surge of nearly 30 percent in the S&P 500 last year. The first few trading days in 2014 seemed to confirm their fears. As of the close of trading Monday, the S&P 500 was down 1.6 percent.

But a combination of positive economic reports and strong earnings on Wednesday sent all three major indexes higher.

The S&P 500 gained 9.50 points, or 0.52 percent, to 1,848.38. The last closing high was 1,848.36 on Dec. 31, 2013. With Wednesday's rise, the index is now basically flat for the year. In 2013 the S&P 500 closed at record highs 45 times.

The Dow Jones industrial average closed up 108.08 points, or 0.7 percent, to 16,481.94. It is 94.72 points from its closing high, just one good up day away. The Nasdaq composite rose 31.87 points, or 0.76 percent, to 4,214.88. The tech-heavy index is still 16 percent below its high during the dot-com bubble more than a decade ago.

Bank of America climbed 2.3 percent after it reported a jump in earnings. The loans on its balance sheet continue to improve, and the bank's provision for credit losses fell to $336 million, from $2.2 billion in the same period a year earlier. Even its mortgage division, which took huge losses after the housing bubble popped, improved.

Apple rose 2 percent, and Microsoft by 2.7 percent. On Friday, Apple plans to start selling its iPhone in China through China Mobile, the world's largest cellphone carrier.

Seven of the 10 industries in the S&P 500 closed higher, led by telecommunications, information technology and financial services. The three were each up more than 1 percent.

Whether stocks can climb more in the coming days depends partly on corporate earnings reports now coming out for the fourth quarter of last year. Companies reporting on Thursday include Goldman Sachs, Citigroup, American Express and Intel.

After years of squeezing more and more profit out of every dollar of revenue, companies will have to lift that top line to hit their earnings targets for this year, said Joseph S. Tanious, global market strategist at JPMorgan. But he's optimistic. "You will see strong revenue growth," he said.

Tanious said a 4 percent to 6 percent increase in S&P 500 earnings per share this year shouldn't be "too difficult."

Financial analysts expect S&P 500 earnings per share to increase 5.6 percent for the fourth quarter, and 9.8 percent for all four quarters of the new year, according to S&P Capital IQ. Revenue growth for both periods is expected to be half the earnings growth.

Stocks were also pushed higher Wednesday by some encouraging economic reports.

A Federal Reserve survey of business confidence in the New York region rose. The Fed's "Beige Book" survey showed economic growth remained healthy in most regions, helping bolster the belief that the U.S. economy will grow faster in the coming months. The report followed one on Tuesday showing strong retail sales during the holiday season.

Two so-called safe-have assets fell on the positive economic news. Bond prices fell, pushing the yield on the 10-year Treasury note up to 2.89 percent from 2.87 percent on Tuesday. Gold fell $7.10, or 0.6 percent, to $1,238.30 an ounce

In other news, U.S. wholesale prices increased in December, as gasoline prices rose along with other energy costs. Overall inflation remained mild. The Labor Department said the producer price index, which measures costs before they reach the consumer, rose 0.4 percent last month.

Other stocks that had big moves:

”” Netflix, the movie-streaming service, fell more than 2 percent to $330.38 out of concern that the company may someday have to pay broadband providers. A court ruling this week gives broadband access providers such as Comcast, Time Warner Cable and Verizon more flexibility to charge heavy bandwidth users higher prices. Investors also worried that Netflix might pass along any new costs to subscribers in the form of higher fees.

”” Fastenal, an industrial supply company, dropped the most in the S&P 500, down 4.5 percent, after reporting that it missed fourth-quarter earnings by a penny. The stock slumped $2.15 to $46.06.

”” Shares of 3-D printer company ExOne fell $5.41, or 9 percent, to $56.85 after cutting its revenue forecast for the year. The North Huntington, Pa., company cited deferred orders from international customers.


----------



## bigdog

Source: http://finance.yahoo.com 

A batch of negative company news gave investors something to fret over Thursday.

A day after eking out its first record high of 2014, the stock lost ground Thursday as electronics retailer Best Buy, Goldman Sachs and Citigroup, and railroad CSX had disappointing earnings news.

Consumer discretionary companies and banks fell the most.

The Standard & Poor's 500 index slipped 2.49 points, or 0.1 percent, to 1,845.89 ”” retreating from the all-time high it hit the day before.

Best Buy fell the most in the S&P 500 index after the company reported a decline in sales during the crucial holiday season. Its shares plunged $10.74, or 29 percent, to $26.83.

Investors had high hopes that Best Buy, which has faced intense competition from companies like Amazon.com, would put itself back on track. The stock soared 236 percent last year. However, the company said Thursday that the aggressive price-matching policy it offered during the holidays backfired and sales fell 0.8 percent compared to a year ago.

Best Buy is not the only retailer to disappoint investors the last week.

Bed Bath & Beyond, Family Dollar and Target all cut their full-year outlooks last week after a weak holiday season. The only bright spot in the retail industry was Macy's, and even it announced layoffs of 2,500 employees as part of a restructuring.

The Dow Jones industrial average fell 64.93 points, or 0.4 percent, to 16,417.01. The Nasdaq composite had a modest gain of 3.8 points, or 0.1 percent, to 4,218.69.

Goldman Sachs was the biggest drag on the Dow, falling $3.58, or 2 percent, to $175.17.

The bank reported a drop in fourth-quarter profit due to problems in its mortgages and bond trading division. However, Goldman's earnings did beat analysts' expectations.

The bond and mortgage businesses were also weak at Citigroup, whose results fell short of expectations. The stock dropped $2.39, or 4 percent, to $52.60.

The stock market is "fragile" right now, said Scott Clemons, chief investment strategist at Brown Brothers Harriman.

"If something were to go wrong, like if this earnings season continues to disappoint, I think any negative market reaction would be magnified," Clemons said. "The market is not as resilient as it was last year." 								

 *The NYSE DOW closed  	LOWER ▼	-64.93	points or ▼	-0.39%	on	Thursday, 16 January 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16417.01	▼	-64.93	▼	-0.39%		
	Nasdaq___	4218.69	▲	3.81	▲	0.09%		
	S&P_500__	1845.89	▼	-2.49	▼	-0.13%		
	30_Yr_Bond	3.77	▼	-0.03	▼	-0.87%		

NYSE Volume	 3,464,602,000 	 	 	 	 	  		 
Nasdaq Volume	 1,981,240,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6815.42	▼	-4.44	▼	-0.07%		
	DAX_____	9717.71	▼	-16.1	▼	-0.17%		
	CAC_40__	4319.27	▼	-12.8	▼	-0.30%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5319.4	▲	63.9	▲	1.22%		
	Shanghai_Comp	2023.7	▲	0.35	▲	0.02%		
	Taiwan_Weight	8612.11	▲	9.56	▲	0.11%		
	Nikkei_225____	15747.2	▼	-61.53	▼	-0.39%		
	Hang_Seng____	22986.41	▲	84.41	▲	0.37%		
	Strait_Times___	3140.44	▼	-2.81	▼	-0.09%		
	NZX_50_Index__	4921.29	▲	8.26	▲	0.17%		

http://finance.yahoo.com/news/weak-earnings-drag-us-stocks-154347623.html

*Weak earnings drag US stocks mostly lower

Weak earnings drag stocks lower; Best Buy plunges on holiday sales decline*

By Ken Sweet, AP Markets Writer

A batch of negative company news gave investors something to fret over Thursday.

A day after eking out its first record high of 2014, the stock lost ground Thursday as electronics retailer Best Buy, Goldman Sachs and Citigroup, and railroad CSX had disappointing earnings news.

Consumer discretionary companies and banks fell the most.

The Standard & Poor's 500 index slipped 2.49 points, or 0.1 percent, to 1,845.89 ”” retreating from the all-time high it hit the day before.

Best Buy fell the most in the S&P 500 index after the company reported a decline in sales during the crucial holiday season. Its shares plunged $10.74, or 29 percent, to $26.83.

Investors had high hopes that Best Buy, which has faced intense competition from companies like Amazon.com, would put itself back on track. The stock soared 236 percent last year. However, the company said Thursday that the aggressive price-matching policy it offered during the holidays backfired and sales fell 0.8 percent compared to a year ago.

Best Buy is not the only retailer to disappoint investors the last week.

Bed Bath & Beyond, Family Dollar and Target all cut their full-year outlooks last week after a weak holiday season. The only bright spot in the retail industry was Macy's, and even it announced layoffs of 2,500 employees as part of a restructuring.

The Dow Jones industrial average fell 64.93 points, or 0.4 percent, to 16,417.01. The Nasdaq composite had a modest gain of 3.8 points, or 0.1 percent, to 4,218.69.

Goldman Sachs was the biggest drag on the Dow, falling $3.58, or 2 percent, to $175.17.

The bank reported a drop in fourth-quarter profit due to problems in its mortgages and bond trading division. However, Goldman's earnings did beat analysts' expectations.

The bond and mortgage businesses were also weak at Citigroup, whose results fell short of expectations. The stock dropped $2.39, or 4 percent, to $52.60.

The stock market is "fragile" right now, said Scott Clemons, chief investment strategist at Brown Brothers Harriman.

"If something were to go wrong, like if this earnings season continues to disappoint, I think any negative market reaction would be magnified," Clemons said. "The market is not as resilient as it was last year."

The company disappointments were not limited to the retailers and banks.

The railroad company CSX warned investors that it might be difficult to reach its own profit targets over the next two years because of ongoing weak demand for coal. The news pushed CSX down $1.99, or 7 percent, to $27.24. Other railroad stocks including Union Pacific and Norfolk Southern were lower.

It's still very early in earnings season. Roughly 70 members of the S&P 500 index report next week, including Microsoft, IBM, Delta Air Lines and McDonald's.

Quincy Krosby, a market strategist with Prudential Financial, said the market desperately needs companies to deliver on expectations this quarter and should find more direction next week once more companies report.

"We need the economic data and corporate earnings to be strong enough to support these valuations," Krosby said.

Investors retreated into the traditional "safe havens:" government bonds, high dividend stocks and gold. The yield on the U.S. 10-year Treasury note fell to 2.84 percent from a yield of 2.89 percent the day before. Bond yields fall as prices rise.

Gold rose $1.90, or 0.2 percent, to $1,240.20 an ounce.

In other company news:

””CEC Entertainment, the parent company of the Chuck E. Cheese pizza parlor chain, rose $6.32, or 13 percent, to $54.75. CEC agreed to be bought by the private equity firm Apollo Global Management for $950 million.

”” Nu Skin plunged $30.43, or 26 percent, to $84.80. Chinese officials accused Nu Skin of operating a pyramid scheme. Nu Skin, based in Provo, Utah, sells skin care and nutritional products through a direct-selling model.


----------



## bigdog

Source: http://finance.yahoo.com 

*The stock market is closed on Monday for the Martin Luther King Jr. Day holiday.*

Investors weren't impressed with the earnings news from big U.S. companies Friday.

Intel slumped after giving a weak revenue forecast and General Electric dropped after its profit margins fell short. Capital One also fell after the bank's earnings missed expectations.

The Standard & Poor's 500 index slipped 7.19 points, or 0.4 percent, to 1,838.70. The Dow Jones industrial average rose 41.55 points, or 0.3 percent, to 16,458.56. The Nasdaq composite fell 21.11 points, or 0.5 percent, to 4,197.58.

The S&P 500 index retreated from a record high close on Wednesday. It ended the week 0.5 percent lower and continued its lackluster start to January.

Still, many investors aren't ready to give up on the stock market's latest rally, which capped an exceptionally strong 2013 with a gain of almost 10 percent in the final three months of the year.

"Markets don't go straight up to the moon," said Doug Cote, chief market strategist at ING Investment Management. "This flat-lining is the market regrouping ... it's a healthy pause."

GE slumped 62 cents, or 2.3 percent, to $26.58 after profit margins in the company's industrial unit fell short of its own targets.

Intel dropped 69 cents, or 2.6 percent, to $25.85 after its first-quarter revenue forecast disappointed Wall Street. Intel said revenue would reach $12.8 billion, "plus or minus" $500 million, less than analysts expected.

The earnings news on Friday wasn't all bad.

American Express rose $3.19, or 3.6 percent, to $90.97 after the company said late Thursday that its net income more than doubled in the fourth quarter. Amex cardholders boosted their spending and borrowing during the holiday season. The news also lifted Visa. The payment company's stock climbed $10.41, or 4.7 percent, to $232.18.

The two companies are members of the Dow and together boosted the blue-chip index by 87 points. Without them, the Dow would have ended the day down.

Morgan Stanley also rose after reporting earnings that beat forecasts. The bank's stock climbed $1.40, or 4.4 percent, to $33.40. Investors were impressed by improving profitability at the bank's wealth management unit, and its pledge to return more capital to shareholders in the form of dividends and stock buybacks, said Shannon Stemm, an analyst at brokerage firm Edward Jones.

About 10 percent of the companies in the S&P 500 have reported fourth-quarter results so far. Despite the disappointing earnings on Friday, profits are still forecast to climb 5.3 percent for the period to a record of $27.76 a share, according to S&P Capital IQ. 								

 *The NYSE DOW closed  	HIGHER ▲	41.55	points or ▲	0.25%	on	Friday, 17 January 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16458.56	▲	41.55	▲	0.25%		
	Nasdaq___	4197.58	▼	-21.11	▼	-0.50%		
	S&P_500__	1838.7	▼	-7.19	▼	-0.39%		
	30_Yr_Bond	3.76	▼	-0.02	▼	-0.42%		

NYSE Volume	 3,654,022,000 	 	 	 	 	  		 
Nasdaq Volume	 2,196,453,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6829.3	▲	13.88	▲	0.20%		
	DAX_____	9742.96	▲	25.25	▲	0.26%		
	CAC_40__	4327.5	▲	8.23	▲	0.19%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5316.4	▼	-3	▼	-0.06%		
	Shanghai_Comp	2004.95	▼	-18.75	▼	-0.93%		
	Taiwan_Weight	8596	▼	-16.11	▼	-0.19%		
	Nikkei_225____	15734.46	▼	-12.74	▼	-0.08%		
	Hang_Seng____	23133.35	▲	146.94	▲	0.64%		
	Strait_Times___	3147.33	▲	6.89	▲	0.22%		
	NZX_50_Index__	4893.95	▼	-27.34	▼	-0.56%		

http://finance.yahoo.com/news/us-stocks-mostly-lower-earnings-200633489.html

*US stocks are mostly lower as earnings fall short

Stocks edge mostly lower as earnings disappoint investors; GE and Intel fall after earnings*

By Steve Rothwell, AP Markets Writer

Investors weren't impressed with the earnings news from big U.S. companies Friday.

Intel slumped after giving a weak revenue forecast and General Electric dropped after its profit margins fell short. Capital One also fell after the bank's earnings missed expectations.

The Standard & Poor's 500 index slipped 7.19 points, or 0.4 percent, to 1,838.70. The Dow Jones industrial average rose 41.55 points, or 0.3 percent, to 16,458.56. The Nasdaq composite fell 21.11 points, or 0.5 percent, to 4,197.58.

The S&P 500 index retreated from a record high close on Wednesday. It ended the week 0.5 percent lower and continued its lackluster start to January.

Still, many investors aren't ready to give up on the stock market's latest rally, which capped an exceptionally strong 2013 with a gain of almost 10 percent in the final three months of the year.

"Markets don't go straight up to the moon," said Doug Cote, chief market strategist at ING Investment Management. "This flat-lining is the market regrouping ... it's a healthy pause."

GE slumped 62 cents, or 2.3 percent, to $26.58 after profit margins in the company's industrial unit fell short of its own targets.

Intel dropped 69 cents, or 2.6 percent, to $25.85 after its first-quarter revenue forecast disappointed Wall Street. Intel said revenue would reach $12.8 billion, "plus or minus" $500 million, less than analysts expected.

The earnings news on Friday wasn't all bad.

American Express rose $3.19, or 3.6 percent, to $90.97 after the company said late Thursday that its net income more than doubled in the fourth quarter. Amex cardholders boosted their spending and borrowing during the holiday season. The news also lifted Visa. The payment company's stock climbed $10.41, or 4.7 percent, to $232.18.

The two companies are members of the Dow and together boosted the blue-chip index by 87 points. Without them, the Dow would have ended the day down.

Morgan Stanley also rose after reporting earnings that beat forecasts. The bank's stock climbed $1.40, or 4.4 percent, to $33.40. Investors were impressed by improving profitability at the bank's wealth management unit, and its pledge to return more capital to shareholders in the form of dividends and stock buybacks, said Shannon Stemm, an analyst at brokerage firm Edward Jones.

About 10 percent of the companies in the S&P 500 have reported fourth-quarter results so far. Despite the disappointing earnings on Friday, profits are still forecast to climb 5.3 percent for the period to a record of $27.76 a share, according to S&P Capital IQ.

Thirteen more companies, including Johnson & Johnson, Delta Air Lines and International Business Machines, will report earnings on Tuesday.

The stock market is closed on Monday for the Martin Luther King Jr. Day holiday.

In government bond trading, the yield on the 10-year note fell to 2.82 percent from 2.84 percent late Thursday. In commodities trading, the price of oil rose 41 cents to $94.37 a barrel. Gold climbed $11.70, or 0.9 percent, to $1,251 an ounce.

Among other stocks making big moves;

— Elizabeth Arden plunged $6.54, or 19 percent, to $27.96 in heavy trading. The company gave a dismal forecast for its fiscal second quarter and full year late Thursday, citing weak holiday sales.

— United Parcel Service fell 58 cents, or 0.6 percent, to $99.91 after the package delivery company said its earnings would be lower than it previously forecast. The company said an "unprecedented" amount of online shopping, including a surge of last-minute orders, forced it to use more temporary employees than planned.

— Capital One fell $4.05, or 5.3 percent, to $72.39. The lender said late Thursday that loans fell in its U.S. credit card and home loan divisions.

1534


----------



## bigdog

Source: http://finance.yahoo.com 

*Joe - I can no longer add attachments - was able to last week!!	* 

The Standard & Poor's 500 index logged a small gain Tuesday on a mixed day for the stock market.

Health-care giant Johnson & Johnson slipped after it warned that pressure to keep prices low would likely mean slightly lower profits than forecast. Delta Air Lines gained after reporting a better-than-expected profit in the fourth quarter as fares and traffic rose.

Company earnings were the main focus for investors Tuesday as there were no major economic releases. So far, the stock market has failed to get a big lift from earnings reports and investors appear to be assessing the results more critically than they did a year ago.

"Earnings are coming in and, candidly, we're getting a mixture picture for the fourth quarter so far," said Jim Russell, an investment director at U.S. Bank.

The Standard & Poor's 500 rose 5.10 points, or 0.3 percent, to 1,843.80. The Dow Jones industrial average fell 44.12 points, or 0.3 percent, to 16,414.44. The Nasdaq composite edged up 28.18 points, or 0.7 percent, to 4,225.76.

J&J, one of the 30 members of the Dow, slipped $1.03, or 1.1 percent, to $94.03, helping pull the index lower. Another Dow component, Verizon Communications, fell after reporting its own earnings.

Among the day's winners were Dow Chemical and Alcoa.

Dow Chemical rose $2.86, or 6.6 percent, to $45.93 after hedge fund Third Point LLC said Tuesday that it has acquired a significant stake in the company and wants it to spin off its petrochemicals division.

Alcoa surged 77 cents, or 6.8 percent, to $12.13 after analysts at JPMorgan raised their price target for the stock, predicting Alcoa will benefit from tightening aluminum markets.

After surging almost 30 percent last year, stocks are starting the year in a more subdued fashion. The S&P 500 is down 0.3 percent for the year. 

 *The NYSE DOW closed  	LOWER ▼	-44.12	points or ▼	-0.27%	on	Tuesday, 21 January 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16414.44	▼	-44.12	▼	-0.27%		
	Nasdaq___	4225.76	▲	28.18	▲	0.67%		
	S&P_500__	1843.8	▲	5.1	▲	0.28%		
	30_Yr_Bond	3.74	▼	-0.02	▼	-0.48%		

NYSE Volume	 3,767,895,000 	 	 	 	 	  		 
Nasdaq Volume	 2,021,258,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6834.26	▼	-2.47	▼	-0.04%		
	DAX_____	9730.12	▲	14.22	▲	0.15%		
	CAC_40__	4323.87	▲	1.01	▲	0.02%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5342	▲	34.4	▲	0.65%		
	Shanghai_Comp	2008.31	▲	17.06	▲	0.86%		
	Taiwan_Weight	8599.9	▼	-21.66	▼	-0.25%		
	Nikkei_225____	15795.96	▲	154.28	▲	0.99%		
	Hang_Seng____	23033.12	▲	104.17	▲	0.45%		
	Strait_Times___	3133.76	▲	4.97	▲	0.16%		

http://finance.yahoo.com/news/mixed-earnings-hold-back-us-220435064.html

*Mixed earnings hold back US stocks

Mixed earnings reports hold back the stock market on Tuesday; Johnson & Johnson slumps*

By Steve Rothwell and Bernard Condon, AP Markets Writers
The Standard & Poor's 500 index logged a small gain Tuesday on a mixed day for the stock market.

Health-care giant Johnson & Johnson slipped after it warned that pressure to keep prices low would likely mean slightly lower profits than forecast. Delta Air Lines gained after reporting a better-than-expected profit in the fourth quarter as fares and traffic rose.

Company earnings were the main focus for investors Tuesday as there were no major economic releases. So far, the stock market has failed to get a big lift from earnings reports and investors appear to be assessing the results more critically than they did a year ago.

"Earnings are coming in and, candidly, we're getting a mixture picture for the fourth quarter so far," said Jim Russell, an investment director at U.S. Bank.

The Standard & Poor's 500 rose 5.10 points, or 0.3 percent, to 1,843.80. The Dow Jones industrial average fell 44.12 points, or 0.3 percent, to 16,414.44. The Nasdaq composite edged up 28.18 points, or 0.7 percent, to 4,225.76.

J&J, one of the 30 members of the Dow, slipped $1.03, or 1.1 percent, to $94.03, helping pull the index lower. Another Dow component, Verizon Communications, fell after reporting its own earnings.

Among the day's winners were Dow Chemical and Alcoa.

Dow Chemical rose $2.86, or 6.6 percent, to $45.93 after hedge fund Third Point LLC said Tuesday that it has acquired a significant stake in the company and wants it to spin off its petrochemicals division.

Alcoa surged 77 cents, or 6.8 percent, to $12.13 after analysts at JPMorgan raised their price target for the stock, predicting Alcoa will benefit from tightening aluminum markets.

After surging almost 30 percent last year, stocks are starting the year in a more subdued fashion. The S&P 500 is down 0.3 percent for the year.  	

In bond trading, the yield on the 10-year Treasury note rose to 2.83 percent from 2.82 percent on Friday. U.S. markets were closed Monday for the Martin Luther King Jr. Day holiday.

Among other stocks making big moves:

”” Delta increased $1.01, or 3 percent, to $32.08 after reporting a better-than-expected profit in the fourth quarter as fares and traffic rose. The airline's president said demand was strong, and forecast that profit margins would increase in the current quarter.

”” Expedia dropped $3.02, or 4.2 percent, to $67.67 after a blog Search Engine Land reported Expedia online visibility fell dramatically, and cited actions taken by Google to punish companies that it believes are trying to game its search algorithms. Officials from Expedia did not immediately respond to requests for comment from The Associated Press.


----------



## bigdog

Source: http://finance.yahoo.com 

The Standard & Poor's 500 index eked out its second small gain of the week Wednesday as investors pored over the latest earnings reports.

Norfolk Southern climbed after the railroad company said its fourth-quarter profit rose 24 percent, better than Wall Street analysts had forecast. TE Connectivity, an electronics company, was the biggest gainer in the S&P 500 after its earnings beat analysts' expectations and the company posted a strong earnings outlook for the second quarter.

But there were also some high-profile disappointments.

IBM fell after the computing company reported lower-than-expected revenue in the period. AMD slumped after the chipmakers' first-quarter revenue outlook rattled investors.

Companies are still increasing their earnings and are forecast to log record quarterly profits for the period, but much of the improvement in recent years has come from cutting costs. As the economy strengthens, investors are increasingly looking for evidence that companies can increase revenue.

"There's not a lot of cost left for companies to squeeze out," said Andy Zimmerman, chief investment strategist at DT Investment Partners, an investment advisor.

The S&P 500 index rose 1.06 point, or 0.1 percent, to 1,844.86. The index traded within a range of just six points on Wednesday. After a small gain on Tuesday, the index is six points, or 0.3 percent, higher for the week.

The Dow Jones industrial average fell 41.10 points, or 0.3 percent, to 16,373.34. Most of the Dow's losses came from IBM's slump. The computer service company's stock fell $6.18, or 3.3 percent, to $182.25.

In other trading, the Nasdaq composite climbed 17.24 points, or 0.4 percent, to 4,243.

Among the day's winners, TE Connectivity jumped $3.70 or 6.6 percent, to $60 after its earnings report. Norfolk Southern climbed $4.23, or 4.8 percent, to $92.94 after the rail company said its fourth-quarter profit rose 24 percent.

Despite the lackluster start to the year, most investors see no cause to call an end to the stock market's rally just yet. The S&P 500 is down 0.2 percent in 2014 after a gain of almost 30 percent last year.

"You had a massive run last year," said Russ Koesterich, chief investment strategist at BlackRock. "And it's not unreasonable that the market digests those gains."

So far, the stock market has failed to get a lift from the company earnings reports that have come out.

Companies are forecast to increase their fourth-quarter earnings by 5.4 percent over the same period a year earlier to a record $27.77 a share, according to S&P Capital IQ data. That would be a slight decline from the third quarter growth rate of 5.6 percent and lower than last year's pace of 7.7 percent.

Much like last year, small companies are again outperforming their larger counterparts. While the S&P 500 has moved sideways since the start of year, the Russell 2000, an index that tracks smaller companies, is up 1.5 percent. The Nasdaq composite is up 1.6 percent.

In government bond trading, the yield on the 10-year Treasury note climbed to 2.86 percent from 2.83 percent late Tuesday. 								

 *The NYSE DOW closed  	LOWER ▼	-41.1	points or ▼	-0.25%	on	Wednesday, 22 January 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16373.34	▼	-41.1	▼	-0.25%		
	Nasdaq___	4243	▲	17.24	▲	0.41%		
	S&P_500__	1844.86	▲	1.06	▲	0.06%		
	30_Yr_Bond	3.76	▲	0.02	▲	0.53%		

NYSE Volume	 3,357,948,750 	 	 	 	 	  		 
Nasdaq Volume	 2,000,833,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6826.33	▼	-7.93	▼	-0.12%		
	DAX_____	9720.11	▼	-10.01	▼	-0.10%		
	CAC_40__	4324.98	▲	1.11	▲	0.03%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5331.3	▼	-10.7	▼	-0.20%		
	Shanghai_Comp	2051.75	▲	43.44	▲	2.16%		
	Taiwan_Weight	8625.3	▲	25.4	▲	0.30%		
	Nikkei_225____	15820.96	▲	25	▲	0.16%		
	Hang_Seng____	23082.25	▲	49.13	▲	0.21%		
	Strait_Times___	3133.74	▼	-0.02	▲	0.00%		
	NZX_50_Index__	4950.34	▲	28.67	▲	0.58%		

http://finance.yahoo.com/news/p-500-ekes-another-small-215222082.html

*S&P 500 ekes out another small gain; IBM slumps

S&P 500 ekes out a small gain as investors assess company earnings; IBM slumps on weak revenue*

By Steve Rothwell, AP Markets Writer

The Standard & Poor's 500 index eked out its second small gain of the week Wednesday as investors pored over the latest earnings reports.

Norfolk Southern climbed after the railroad company said its fourth-quarter profit rose 24 percent, better than Wall Street analysts had forecast. TE Connectivity, an electronics company, was the biggest gainer in the S&P 500 after its earnings beat analysts' expectations and the company posted a strong earnings outlook for the second quarter.

But there were also some high-profile disappointments.

IBM fell after the computing company reported lower-than-expected revenue in the period. AMD slumped after the chipmakers' first-quarter revenue outlook rattled investors.

Companies are still increasing their earnings and are forecast to log record quarterly profits for the period, but much of the improvement in recent years has come from cutting costs. As the economy strengthens, investors are increasingly looking for evidence that companies can increase revenue.

"There's not a lot of cost left for companies to squeeze out," said Andy Zimmerman, chief investment strategist at DT Investment Partners, an investment advisor.

The S&P 500 index rose 1.06 point, or 0.1 percent, to 1,844.86. The index traded within a range of just six points on Wednesday. After a small gain on Tuesday, the index is six points, or 0.3 percent, higher for the week.

The Dow Jones industrial average fell 41.10 points, or 0.3 percent, to 16,373.34. Most of the Dow's losses came from IBM's slump. The computer service company's stock fell $6.18, or 3.3 percent, to $182.25.

In other trading, the Nasdaq composite climbed 17.24 points, or 0.4 percent, to 4,243.

Among the day's winners, TE Connectivity jumped $3.70 or 6.6 percent, to $60 after its earnings report. Norfolk Southern climbed $4.23, or 4.8 percent, to $92.94 after the rail company said its fourth-quarter profit rose 24 percent.

Despite the lackluster start to the year, most investors see no cause to call an end to the stock market's rally just yet. The S&P 500 is down 0.2 percent in 2014 after a gain of almost 30 percent last year.

"You had a massive run last year," said Russ Koesterich, chief investment strategist at BlackRock. "And it's not unreasonable that the market digests those gains."

So far, the stock market has failed to get a lift from the company earnings reports that have come out.

Companies are forecast to increase their fourth-quarter earnings by 5.4 percent over the same period a year earlier to a record $27.77 a share, according to S&P Capital IQ data. That would be a slight decline from the third quarter growth rate of 5.6 percent and lower than last year's pace of 7.7 percent.

Much like last year, small companies are again outperforming their larger counterparts. While the S&P 500 has moved sideways since the start of year, the Russell 2000, an index that tracks smaller companies, is up 1.5 percent. The Nasdaq composite is up 1.6 percent.

In government bond trading, the yield on the 10-year Treasury note climbed to 2.86 percent from 2.83 percent late Tuesday.

Among other stock making big moves:

”” Apple climbed $2.44, or 0.4 percent, to $551.51. Billionaire investor Carl Icahn said on his Twitter account that he had increased his investment to more than $3 billion. Icahn wants Apple to "markedly" increase its share buybacks and said the technology company is doing investors a disservice by not doing so.

”” Netflix surged $55, or 16 percent, to $388 in after-hours trading after the video streaming company posted earnings that beat analysts' expectations and added another 2.3 million U.S. subscribers.

”” Coach fell $3.17, or 6 percent, to $49.38 after the luxury goods maker reported a lower quarterly profit, citing weakness in women's bags and accessories in North America. Coach is facing tough competition from rivals like Michael Kors.

”” Advanced Micro Devices plunged 50 cents, or 12 percent, to $3.67 after the company said late Tuesday that it expected its first-quarter revenue to fall 13 percent to 19 percent from the fourth quarter. That would translate into first-quarter revenue ranging from $1.29 billion to $1.38 billion, mostly below Wall Street's predictions.


----------



## bigdog

Source: http://finance.yahoo.com 

U.S. stocks fell broadly Thursday after a report from China added to growing signs that the world's second-largest economy is slowing. The selling spared few companies, even those reporting solid earnings.

"It's pretty ugly," said Randy Frederick, a managing director of active trading and derivatives at Charles Schwab. "When you've got a market that's near record highs ... people are looking for any excuse to take profits."

In the Standard and Poor's 500 index, nine of 10 companies dropped.

Stocks fell from the start of trading after an HSBC survey of Chinese manufacturing fell to the lowest point since July and suggested that the country's factory sector was shrinking. Earlier this week, China reported its slowest annual economic growth since 1999.

The Dow was down as much as 232 points before trimming its loss late in the day. It closed down 175.99 points, or 1.1 percent, at 16,197.35. The S&P 500 lost 16.40 points, or 0.9 percent, to 1,828.46.

Fearful investors poured money into U.S. government debt securities, pushing the yield on the 10-year Treasury note down to 2.78 percent from 2.86 percent late Wednesday. That was the lowest since Nov. 29. Yields fall on bonds when their prices rise.

The price of gold, another safe-play asset, rose $23.70, or 1.9 percent, to $1,262.30 an ounce.

Worries about China also hammered emerging market currencies. The Argentine peso fell hard, and has now lost 16 percent of its value in two days, the fastest drop since the country's economic collapse in 2002. The Turkish lira fell 1.3 percent and reached a record low against the dollar.

Several U.S. companies fell after reporting their latest quarterly results, including KeyCorp, Johnson Controls and Jacobs Engineering. All three either met or exceeded analyst expectations for earnings, but were each down at least 3 percent as investors sold the broad market.

So far this reporting season, about a fifth of the companies in the S&P 500 have reported fourth-quarter earnings, with about 65 percent of them beating analyst estimates ”” a solid performance, said Christine Short, associate director at S&P Capital IQ. She said that is about the historical average.

But investors seem more focused on the global economy, and on projections from companies for the coming year.

"The guidance has been very guarded and analysts are not lifting their numbers for 2014," said David Bianco, head U.S. stock strategist at Deutsche Bank. 								

 *The NYSE DOW closed  	LOWER ▼	-175.99	points or ▼	-1.07%	on	Thursday, 23 January 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	16197.35	▼	-175.99	▼	-1.07%		
	Nasdaq___	4218.87	▼	-24.13	▼	-0.57%		
	S&P_500__	1828.46	▼	-16.4	▼	-0.89%		
	30_Yr_Bond	3.68	▼	-0.08	▼	-2.08%		

NYSE Volume	 3,971,833,500 	 	 	 	 	  		 
Nasdaq Volume	 2,155,302,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6773.28	▼	-53.05	▼	-0.78%		
	DAX_____	9631.04	▼	-89.07	▼	-0.92%		
	CAC_40__	4280.96	▼	-44.02	▼	-1.02%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5275.5	▼	-55.8	▼	-1.05%		
	Shanghai_Comp	2042.18	▼	-9.57	▼	-0.47%		
	Taiwan_Weight	8595.1	▼	-30.2	▼	-0.35%		
	Nikkei_225____	15695.89	▼	-125.07	▼	-0.79%		
	Hang_Seng____	22733.9	▼	-348.35	▼	-1.51%		
	Strait_Times___	3100.24	▼	-33.5	▼	-1.07%		
	NZX_50_Index__	4911.08	▼	-39.26	▼	-0.79%		

http://finance.yahoo.com/news/us-stocks-fall-worries-over-215303072.html

*US stocks fall on worries over Chinese economy

US stocks fall as investors worry about a China slowdown and US earnings; Bonds, gold rise*

By Bernard Condon, AP Business Writer 

U.S. stocks fell broadly Thursday after a report from China added to growing signs that the world's second-largest economy is slowing. The selling spared few companies, even those reporting solid earnings.

"It's pretty ugly," said Randy Frederick, a managing director of active trading and derivatives at Charles Schwab. "When you've got a market that's near record highs ... people are looking for any excuse to take profits."

In the Standard and Poor's 500 index, nine of 10 companies dropped.

Stocks fell from the start of trading after an HSBC survey of Chinese manufacturing fell to the lowest point since July and suggested that the country's factory sector was shrinking. Earlier this week, China reported its slowest annual economic growth since 1999.

The Dow was down as much as 232 points before trimming its loss late in the day. It closed down 175.99 points, or 1.1 percent, at 16,197.35. The S&P 500 lost 16.40 points, or 0.9 percent, to 1,828.46.

Fearful investors poured money into U.S. government debt securities, pushing the yield on the 10-year Treasury note down to 2.78 percent from 2.86 percent late Wednesday. That was the lowest since Nov. 29. Yields fall on bonds when their prices rise.

The price of gold, another safe-play asset, rose $23.70, or 1.9 percent, to $1,262.30 an ounce.

Worries about China also hammered emerging market currencies. The Argentine peso fell hard, and has now lost 16 percent of its value in two days, the fastest drop since the country's economic collapse in 2002. The Turkish lira fell 1.3 percent and reached a record low against the dollar.

Several U.S. companies fell after reporting their latest quarterly results, including KeyCorp, Johnson Controls and Jacobs Engineering. All three either met or exceeded analyst expectations for earnings, but were each down at least 3 percent as investors sold the broad market.

So far this reporting season, about a fifth of the companies in the S&P 500 have reported fourth-quarter earnings, with about 65 percent of them beating analyst estimates ”” a solid performance, said Christine Short, associate director at S&P Capital IQ. She said that is about the historical average.

But investors seem more focused on the global economy, and on projections from companies for the coming year.

"The guidance has been very guarded and analysts are not lifting their numbers for 2014," said David Bianco, head U.S. stock strategist at Deutsche Bank.

United Continental fell 75 cents, or 1.5 percent, to $48.43 after its prediction for revenue growth this quarter disappointed investors.

The pullback comes after a stellar run for stocks last year. The Dow rose nearly 27 percent and the S&P, nearly 30 percent.

"The market at these levels is a bit skittish," said James Dunigan, chief investment strategist at PNC Wealth Management. He added that "any kink in the growth story ... is going to give investors pause."

Some companies bucked the selling tide. Netflix surged $54.99, or 17 percent, to $388.72, the biggest gain in the S&P 500. After trading ended Wednesday, the streaming video company reported fourth-quarter earnings had climbed six-fold and that it had added 2.3 million subscribers during the period.

Technology stocks fell less than the rest of the market. The Nasdaq composite declined 24.13 points, or 0.6 percent, to 4,218.87.

Among other stocks making big moves:

”” American Eagle Outfitters dropped $1.12, or 8 percent, to $13.19 after announcing the unexpected departure of its CEO, Robert Hanson. The teen retailer had reported disappointing sales over the holiday season.

”” Nokia plunged 67 cents, or 9 percent, to $7.03 after posting a fourth-quarter loss on falling handset sales. The mobile phone business is part of the device and services unit that the Finnish company has agreed to sell to Microsoft.

”” Union Pacific rose $5.62, or 3 percent, to $174.12 after reporting a 13 percent jump in fourth-quarter earnings, beating analyst forecasts.


----------



## bigdog

Source: http://finance.yahoo.com 

Fear is back in the market.

Investors are worried about slower economic growth in China, a gloomier outlook for U.S. corporate profits and an end to easy money policies in the United States and Europe. They're also fretting over country-specific troubles around the world — from economic mismanagement in Argentina to political instability in Turkey.

Those fears converged to start a two-day rout in global markets this week, capped by a 318-point drop in the Dow Jones industrial average Friday. It was the blue-chip index's worst day since last June. The Dow plunged almost 500 points over the two-day stretch.

The Standard & Poor's 500 index fell 38 points, or 2.1 percent, to 1,790 Friday. The Nasdaq composite fell 90 points, or 2.2 percent, to 4,128.

Despite the sell-off, U.S. stocks remain near all-time highs after surging 30 percent last year. The S&P 500 is 3 percent below its record high of 1,848 on Jan. 15.

U.S. stocks have not endured a correction — a drop of 10 percent or more over time — since October 2011.

The turbulence coincides with a global economic shift: China and other emerging market economies appear to be running into trouble just as the developed economies of the United States and Europe finally show signs of renewed strength nearly five years after the end of the Great Recession.

The trouble began Thursday after a January survey showed a drop in Chinese manufacturing activity. Days earlier, China reported that its economic growth last year matched 2012 for the slowest pace since 1999.

"It is interesting how even a mild tremor in China's growth causes such anxiety around the world," said Eswar Prasad, professor of trade policy at Cornell University.

In Asia Friday, Japan's Nikkei 225 slipped 1.9 percent to close at 15,391.56; Hong Kong's Hang Seng shed 1.2 percent to 22,450.06; and Seoul's Kospi dropped 0.4 percent to 1,940.56.

Slower growth in China is bad news for countries that supply oil, iron ore and other raw materials to the world's second-biggest economy. Some of those countries, such as Indonesia and South Africa, were already struggling with an outflow of capital as rising U.S. interest rates drew investors to the United States. 								

 *The NYSE DOW closed  	LOWER ▼	-318.24	points or ▼	-1.96%	on	Friday, 24 January 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15879.11	▼	-318.24	▼	-1.96%		
	Nasdaq___	4128.17	▼	-90.7	▼	-2.15%		
	S&P_500__	1790.29	▼	-38.17	▼	-2.09%		
	30_Yr_Bond	3.65	▼	-0.03	▼	-0.82%		

NYSE Volume	 4,608,392,000 	 	 	 	 	  		 
Nasdaq Volume	 2,443,345,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6663.74	▼	-109.54	▼	-1.62%		
	DAX_____	9392.02	▼	-239.02	▼	-2.48%		
	CAC_40__	4161.47	▼	-119.49	▼	-2.79%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5254.3	▼	-21.2	▼	-0.40%		
	Shanghai_Comp	2054.39	▲	12.21	▲	0.60%		
	Taiwan_Weight	8598.31	▲	3.21	▲	0.04%		
	Nikkei_225____	15391.56	▼	-304.33	▼	-1.94%		
	Hang_Seng____	22450.06	▼	-283.84	▼	-1.25%		
	Strait_Times___	3075.99	▼	-24.25	▼	-0.78%		
	NZX_50_Index__	4873.7	▼	-37.38	▼	-0.76%		

http://finance.yahoo.com/news/fear-slowing-growth-pushes-down-182025606.html

*Fear of slowing growth pushes down global markets

US stocks slump again, extending a global downturn as investors flee emerging markets*

By Paul Wiseman and Joshua Freed, AP Business Writers

Fear is back in the market.

Investors are worried about slower economic growth in China, a gloomier outlook for U.S. corporate profits and an end to easy money policies in the United States and Europe. They're also fretting over country-specific troubles around the world — from economic mismanagement in Argentina to political instability in Turkey.

Those fears converged to start a two-day rout in global markets this week, capped by a 318-point drop in the Dow Jones industrial average Friday. It was the blue-chip index's worst day since last June. The Dow plunged almost 500 points over the two-day stretch.

The Standard & Poor's 500 index fell 38 points, or 2.1 percent, to 1,790 Friday. The Nasdaq composite fell 90 points, or 2.2 percent, to 4,128.

Despite the sell-off, U.S. stocks remain near all-time highs after surging 30 percent last year. The S&P 500 is 3 percent below its record high of 1,848 on Jan. 15.

U.S. stocks have not endured a correction — a drop of 10 percent or more over time — since October 2011.

The turbulence coincides with a global economic shift: China and other emerging market economies appear to be running into trouble just as the developed economies of the United States and Europe finally show signs of renewed strength nearly five years after the end of the Great Recession.

The trouble began Thursday after a January survey showed a drop in Chinese manufacturing activity. Days earlier, China reported that its economic growth last year matched 2012 for the slowest pace since 1999.

"It is interesting how even a mild tremor in China's growth causes such anxiety around the world," said Eswar Prasad, professor of trade policy at Cornell University.

In Asia Friday, Japan's Nikkei 225 slipped 1.9 percent to close at 15,391.56; Hong Kong's Hang Seng shed 1.2 percent to 22,450.06; and Seoul's Kospi dropped 0.4 percent to 1,940.56.

Slower growth in China is bad news for countries that supply oil, iron ore and other raw materials to the world's second-biggest economy. Some of those countries, such as Indonesia and South Africa, were already struggling with an outflow of capital as rising U.S. interest rates drew investors to the United States.

Here's a look at the forces buffeting global financial markets:

THE END OF EASY MONEY

Since the global financial crisis hit in 2008, the Federal Reserve has flooded markets with cash to push interest rates lower and encourage U.S. businesses and consumers to borrow and spend. But last month, as signs of growing economic strength emerged in the U.S., the Fed cut back — reducing its monthly bond purchases to $75 billion from $85 billion. It also said that it expected to reduce the bond-buying further "in measured steps" at upcoming meetings.

The Fed meets again next Tuesday and Wednesday. Many economists expect the central bank to cut the purchases again — perhaps to $65 billion a month.

The scaling back of the Fed's easy money policies has hit some emerging markets hard. When the Fed was pushing U.S. rates lower, emerging markets had seen an inflow of capital from investors seeking higher returns than they could get in the United States. Now investment is flowing back to America, hammering currencies in emerging markets.

The South African rand, Russian ruble, Turkish lira, and especially the Argentinian peso — which fell 13 percent Thursday — have been "trounced," said Jane Foley, a currency strategist at Rabobank. "Talk that the U.S. Federal Reserve will announce another reduction in its monthly bond purchases next week ... (is also) contributing to a loss of confidence in some emerging markets," she said.

POLITICAL TURMOIL

In some countries, concerns over the local political or financial situation have worsened the market volatility dramatically. That was most obvious in Argentina, where the peso this week suffered its sharpest fall since the country's 2002 economic collapse. The government, running short of reserves it could use to buy the currency and keep it from falling, has let the peso drop instead. The country's economic fundamentals are grim: Inflation is believed to be running at about 25 percent to 30 percent.

The peso fell 16 percent in two days, easily the worst performer among emerging markets.

Turkey's national currency, the lira, hit multiple record lows in recent weeks as investors worried about the fallout of a corruption scandal that threatens to destabilize the government. Having a stable government for the past 10 years has been one of the key ingredients in the country's economic revival.

The lira hit an all-time low of 2.33 against the dollar on Friday — from around 2 per dollar in December — despite a $3 billion-intervention by the central bank in foreign exchange markets.

Beyond political problems, the countries that have seen their currencies fall most are those that rely heavily on exports of raw materials used in manufacturing. The Russian ruble was trading at 34.58 per dollar, from below 34 on Thursday. The South African rand weakened to 11.13 per dollar, from 10.98 the day before.

CHINA AND GLOBAL GROWTH

Since the recession, the global economy has relied heavily on China and other emerging markets as the developed economies of the United States, Europe and Japan struggled.

But China's economy is decelerating. It grew 7.7 percent in October-December 2013 from a year earlier, down from the previous quarter's 7.8 percent growth. Factory output, exports and investment all weakened. On Thursday, the preliminary version of HSBC's purchasing managers' index of Chinese manufacturing fell to 49.6, the lowest reading since July's 47.7. Anything below 50 signals a contraction.

China's growth is still far stronger than the United States, Japan or Europe, but is down from the double-digit rates of the previous decade.

Many economists are troubled less by the slower growth numbers than by China's over-reliance on trade and investment instead of spending by its consumers.

"China, and the world at large, would benefit from its shift to a lower but more sustainable pattern of growth that is not so heavily dependent on investment-led growth fueled by bank credit," Cornell's Prasad said.

China's growth is slowing just as the world's rich economies begin to gain momentum.

The 17 countries that use the euro currency appear to be recovering from a debt crisis that tipped them into a double-dip recession in late 2011.

In the United States, households have reduced crippling debt levels and are in better shape to start spending again. The International Monetary Fund expects the U.S. economy to grow 2.8 percent this year, up from 1.9 percent in 2013, and for the eurozone economy to grow 1 percent in 2014 after contracting 0.4 percent in 2013 and 0.7 percent in 2012.

CORPORATE PROFITS

In the U.S., the outlook for corporate profits has already been weakening, and the turmoil in emerging-market currencies could make matters worse.

About two-thirds of the 123 S&P 500 companies that have reported fourth-quarter earnings so far have beaten analysts' estimates, according to S&P Capital IQ, in line with the historical average. But the forecasts for income growth have been falling and could decline further.

As recently as this summer, analysts predicted earnings growth of more than 11 percent for the fourth quarter, but now they expect just half that — 5.9 percent.

Some companies are becoming more pessimistic, too. For the January-March quarter, seven out of every 10 that have talked about their prospects have cut projections, more than average, according to FactSet. The stocks have tanked as a result. Since United Continental lowered revenue estimates on Thursday, for instance, its stock has fallen 6 percent.

U.S.-based multinational companies posted some of the biggest declines on Friday as investors worried about their overseas sales. Oracle and 3M have warned that their results could take a hit because of the strengthening dollar. Shares of the companies fell 3 percent.

Companies that rely on overseas sales will bring home fewer dollars if the dollar continues to appreciate against foreign currencies, especially in emerging markets that have been hammered this week. In Argentina, for example, the same amount of pesos buys fewer dollars today than it did last week.

On Tuesday, Europe-based consumer goods giant Unilever said fourth-quarter sales slowed because of weakness in emerging markets. The decline was mostly because of unfavorable currency moves.

"So when emerging markets sniffle, large cap companies can catch a cold," said Lawrence Creatura, a portfolio manager with Federated Investors.

1992


----------



## bigdog

Source: http://finance.yahoo.com 

Shaky economies and plunging currencies in the developing world are fueling a global sell-off in stocks.

Fearful investors on Monday pushed prices lower across Asia and Europe, though many of the drops weren't as steep as last week. In the U.S. and in other rich countries, where economies are healthier, investors also retreated, but the selling was not as fierce.

The Dow Jones industrial average slipped 41.23 points, or 0.26 percent, to 15,837.88. The Standard & Poor's 500 index fell 8.73 points, or 0.5 percent, to 1,781.56. The tech-heavy Nasdaq was down the most, falling 44.56 points, or 1.1 percent, to 4,083.61.

The selling started in Asia, with major indexes in both Hong Kong and Tokyo down more than 2 percent, then spread to Europe and the U.S., as stocks slipped across the board, though much less than feared given the big declines on Friday.

Jack Ablin, chief investment officer at BMO Private Bank, said he was encouraged that the U.S. losses were modest.

"We have an accelerating economy, low inflation and accommodative monetary policy," he said. "The world isn't falling apart."

The market turbulence was set off last week by a report from China on a downturn in its manufacturing, more evidence that the world's second-largest economy is slowing. That's a big problem for Brazil, South Africa and other developing countries that have come to depend on exports to that country.

Adding to the troubles: The decision by the U.S. Federal Reserve last month to scale back its stimulus for the U.S. economy, which has helped keep interest rates low. Money that had flooded emerging markets looking for higher returns outside the U.S. has begun to come back now that rates may rise, battering those markets.

Despite the widespread stock selling Monday, experts say the troubles in China and elsewhere in the developing world are unlikely to derail a global economic recovery that appears to be gaining momentum. Growth in the world's wealthy economies is expected to pick up the slack.

"This year, growth will be driven by the dull and old economies ”” the U.S., the U.K., Germany and even Japan," said Nariman Behravesh, chief economist at IHS Global Insight. 								

 *The NYSE DOW closed  	LOWER ▼	-41.23	points or ▼	-0.26%	on	Monday, 27 January 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15837.88	▼	-41.23	▼	-0.26%		
	Nasdaq___	4083.61	▼	-44.56	▼	-1.08%		
	S&P_500__	1781.56	▼	-8.73	▼	-0.49%		
	30_Yr_Bond	3.68	▲	0.03	▲	0.79%		

NYSE Volume	 4,018,635,750 	 	 	 	 	  		 
Nasdaq Volume	 2,341,066,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6550.66	▼	-222.62	▼	-3.29%		
	DAX_____	9349.22	▼	-42.8	▼	-0.46%		
	CAC_40__	4144.56	▼	-16.91	▼	-0.41%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5254.3	▼	-21.2	▼	-0.40%		 Closed Monday for Australia day
	Shanghai_Comp	2033.3	▼	-21.09	▼	-1.03%		
	Taiwan_Weight	8462.57	▼	-135.74	▼	-1.58%		
	Nikkei_225____	15005.73	▼	-385.83	▼	-2.51%		
	Hang_Seng____	21976.1	▼	-473.96	▼	-2.11%		
	Strait_Times___	3042.43	▼	-33.56	▼	-1.09%		
	NZX_50_Index__	4853.8	▼	-19.9	▼	-0.41%		

http://finance.yahoo.com/news/global-stock-declines-continue-215250554.html

*Global stock declines continue

Stocks fall across the globe on fears over shaky emerging-market economies and currencies*

By Bernard Condon and Paul Wiseman, AP Business Writers 

Shaky economies and plunging currencies in the developing world are fueling a global sell-off in stocks.

Fearful investors on Monday pushed prices lower across Asia and Europe, though many of the drops weren't as steep as last week. In the U.S. and in other rich countries, where economies are healthier, investors also retreated, but the selling was not as fierce.

The Dow Jones industrial average slipped 41.23 points, or 0.26 percent, to 15,837.88. The Standard & Poor's 500 index fell 8.73 points, or 0.5 percent, to 1,781.56. The tech-heavy Nasdaq was down the most, falling 44.56 points, or 1.1 percent, to 4,083.61.

The selling started in Asia, with major indexes in both Hong Kong and Tokyo down more than 2 percent, then spread to Europe and the U.S., as stocks slipped across the board, though much less than feared given the big declines on Friday.

Jack Ablin, chief investment officer at BMO Private Bank, said he was encouraged that the U.S. losses were modest.

"We have an accelerating economy, low inflation and accommodative monetary policy," he said. "The world isn't falling apart."

The market turbulence was set off last week by a report from China on a downturn in its manufacturing, more evidence that the world's second-largest economy is slowing. That's a big problem for Brazil, South Africa and other developing countries that have come to depend on exports to that country.

Adding to the troubles: The decision by the U.S. Federal Reserve last month to scale back its stimulus for the U.S. economy, which has helped keep interest rates low. Money that had flooded emerging markets looking for higher returns outside the U.S. has begun to come back now that rates may rise, battering those markets.

Despite the widespread stock selling Monday, experts say the troubles in China and elsewhere in the developing world are unlikely to derail a global economic recovery that appears to be gaining momentum. Growth in the world's wealthy economies is expected to pick up the slack.

"This year, growth will be driven by the dull and old economies ”” the U.S., the U.K., Germany and even Japan," said Nariman Behravesh, chief economist at IHS Global Insight.

The International Monetary Fund expects the global economy to grow 3.7 percent this year, up from 3 percent in 2013, carried along by faster growth in the United States and the 17 countries that use the euro. The IMF expects the China's growth to decelerate from 7.7 percent last year to 7.5 percent in 2014.

"A lot of growth is shifting back to the developed world," said Jennifer Lee, senior economist at BMO Capital Markets.

Compared with a couple of years ago, the U.S. economy is in a better position to withstand a Chinese slowdown. American consumers have paid down debts and can spend more freely. The housing market is recovering from the depths of the Great Recession.

Helping investor spirits in the U.S. are decent corporate earnings. Caterpillar was the biggest gainer in the Dow on Monday, rising $5.12, or 6 percent, to $91.29, after the earth-moving equipment maker reported fourth-quarter net income that easily beat analysts' estimates.

After gains of nearly 30 percent in the S&P 500 last year, though, investors in U.S. stocks have been nervous, selling on any whiff of bad news.

"When they see a little negative news, they wonder, 'Is this going to continue or should I run for the doors?'" said Sean Lynch, global investment strategist at Wells Fargo Private Bank.

Losses in the U.S. eased Monday after a recovery in the battered currency of Turkey, one of the flash points of emerging market troubles. The Turkish lira initially sank to a low of 2.39 per dollar, then recovered to 2.29 per dollar after the country's central bank said it would hold an emergency policy meeting, raising hopes it will shore up the currency.

Other emerging market currencies continued to weaken against the dollar, including the South African rand and the Russian ruble, each down another 0.3 percent against the dollar.

On Monday, Germany's DAX fell 0.5 percent and France's CAC-40 declined 0.4 percent. Spain's benchmark index fell 1 percent.


----------



## MARKETWINNER

I strongly believe Fed could carry out their tapering in a systematic way and gradually. As I said before gradual tapering is a good for the world economy in the long run. We could see strong rebound in global stock markets sooner than later. There could be another great opportunity for intelligent investors in the USA and selected frontier and emerging markets. Coming weeks and months could become some of the best bullish months while having some volatility before we see some sort of correction in over valued markets. DOW, S & P 500 and NADAQ could bounce back strongly again. DOW could have strong rally.

My ideas are not a recommendation to either buy or sell any security, commodity or currency. Please do your own research prior to making any investment decisions.


----------



## bigdog

Source: http://finance.yahoo.com 

Investors' jitters over emerging markets faded on Tuesday and U.S. stocks rose for the first time in four days.

Global stock markets stabilized after three turbulent days when investors grew worried about growth in China and other emerging markets. The sell-off began last Thursday, when a survey for January showed that Chinese manufacturing was set to contract, dragging down stocks in Asia, Europe and the U.S. The slide continued on Friday as currencies in countries including Argentina and Turkey slumped. On Monday, Asian markets slumped, although the selling on Wall Street eased.

By Tuesday, though, global markets regained their calm. In the U.S., earnings gains from big companies, including Pfizer, Comcast and D.R. Horton helped lift stock indexes. One area of disappointment, though, was Apple, whose weak revenue forecast pushed its stock to the biggest one-day loss in a year.

The stock market has slumped in January after a banner year in 2013 that sent the market up to record levels. Many investors believe that rally has yet to run its course.

"I tend to interpret the choppiness and downward movement in share prices so far this year as just a little bit of a stumble off the starting block," said John Carey, a portfolio manager at Pioneer Investments. "This is a temporary situation."

The Standard & Poor's 500 index rose 10.94 points, or 0.6 percent, to 1,792.50. The Dow Jones industrial average gained 90.68 points, or 0.6 percent, to 15,928.56. The Nasdaq composite climbed 14.35 points, or 0.4 percent, to 4,097.96.

Nine of the 10 sectors that make up the S&P 500 index rose. Health care and financial stocks were the two best-performing sectors. The technology sector was the only one to fall.

Financial markets in emerging economies stabilized on Tuesday. 								

 *The NYSE DOW closed  	HIGHER ▲	90.68	points or ▲	0.57%	on	Tuesday, 28 January 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15928.56	▲	90.68	▲	0.57%		
	Nasdaq___	4097.96	▲	14.35	▲	0.35%		
	S&P_500__	1792.5	▲	10.94	▲	0.61%		
	30_Yr_Bond	3.67	▼	-0.01	▼	-0.22%		

NYSE Volume	 3,371,302,250 	 	 	 	 	  		 
Nasdaq Volume	 2,048,493,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6572.33	▲	21.67	▲	0.33%		
	DAX_____	9406.91	▲	57.69	▲	0.62%		
	CAC_40__	4185.29	▲	40.73	▲	0.98%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5188	▼	-66.3	▼	-1.26%		
	Shanghai_Comp	2038.51	▲	5.21	▲	0.26%		
	Taiwan_Weight	8462.57	▼	-135.74	▼	-1.58%		
	Nikkei_225____	14980.16	▼	-25.57	▼	-0.17%		
	Hang_Seng____	21960.64	▼	-15.46	▼	-0.07%		
	Strait_Times___	3062.41	▲	19.98	▲	0.66%		
	NZX_50_Index__	4848.44	▼	-5.36	▼	-0.11%		

http://finance.yahoo.com/news/stocks-rise-wall-street-3-183109093.html

*Stocks rise on Wall Street after 3 days of losses

US stocks turn higher after 3 days of losses; Pfizer leads a rally in health care sector*

By Steve Rothwell, AP Markets Writer 

 Investors' jitters over emerging markets faded on Tuesday and U.S. stocks rose for the first time in four days.

Global stock markets stabilized after three turbulent days when investors grew worried about growth in China and other emerging markets. The sell-off began last Thursday, when a survey for January showed that Chinese manufacturing was set to contract, dragging down stocks in Asia, Europe and the U.S. The slide continued on Friday as currencies in countries including Argentina and Turkey slumped. On Monday, Asian markets slumped, although the selling on Wall Street eased.

By Tuesday, though, global markets regained their calm. In the U.S., earnings gains from big companies, including Pfizer, Comcast and D.R. Horton helped lift stock indexes. One area of disappointment, though, was Apple, whose weak revenue forecast pushed its stock to the biggest one-day loss in a year.

The stock market has slumped in January after a banner year in 2013 that sent the market up to record levels. Many investors believe that rally has yet to run its course.

"I tend to interpret the choppiness and downward movement in share prices so far this year as just a little bit of a stumble off the starting block," said John Carey, a portfolio manager at Pioneer Investments. "This is a temporary situation."

The Standard & Poor's 500 index rose 10.94 points, or 0.6 percent, to 1,792.50. The Dow Jones industrial average gained 90.68 points, or 0.6 percent, to 15,928.56. The Nasdaq composite climbed 14.35 points, or 0.4 percent, to 4,097.96.

Nine of the 10 sectors that make up the S&P 500 index rose. Health care and financial stocks were the two best-performing sectors. The technology sector was the only one to fall.

Financial markets in emerging economies stabilized on Tuesday.

The Turkish lira edged higher against the dollar after that nation's central bank signaled that it was preparing to reverse course and raise interest rates to fight inflation. The currency's decline was at the center of an emerging-market slump that prompted the global sell-off in stocks last week. The lira was trading at 2.26 per dollar on Tuesday and has fallen 4 percent against the U.S. currency this year.

The Argentine peso also stabilized after a big drop on Friday when the government was forced to relax restrictions on the purchase of U.S. dollars. The peso dropped 0.3 percent to 8.02 per dollar on Tuesday.

Investors will once again be focusing on earnings Wednesday.

Fourth-quarter earnings at major U.S. companies are projected to rise by 6.3 percent in the fourth quarter from the same period a year earlier. Of companies that have reported results, about two-thirds have met or beaten expectations, according to S&P Capital IQ.

After signs of accelerating economic growth in the fourth quarter, some investors are disappointed that companies aren't seeing stronger demand.

"People were hoping, generally, for better earnings," said David Lafferty, chief market strategist for Natixis Global Asset Management. "We've sort of met expectations, but we haven't significantly exceeded them."

Investors will also be focusing on the Federal Reserve.

Most analysts expect that the Fed will announce that it will further reduce its bond purchases by $10 billion to $65 billion following a two-day meeting that began Tuesday. The central bank has been buying bonds to hold down long-term interest rates and encourage lending and hiring. The policy also helped power a rally last year that pushed the stock market to record levels.

In government bond trading, the yield on the 10-year Treasury note held steady at 2.75 percent.

In commodities trading, the price of oil rose $1.69, or 1.8 percent, to $97.41 a barrel. Gold fell $12.60, or 1 percent, to $1,251.80 an ounce.

Among stocks making big moves:

”” Homebuilder D.R. Horton was the biggest gainer in the S&P 500 index, surging $2.06, or 9.8 percent, to $23. The stock gained after Horton reported that its fiscal first-quarter net income jumped 86 percent as selling prices for its houses rose. Other house builders including PutleGroup and Lennar also rose.

”” Pfizer gained 76 cents, or 2.6 percent, to $30.42 after the company's earnings beat analyst expectations, helped by lower costs.

”” Apple slumped $44, or 8 percent, to $506.50 after the company's first-quarter results released late Monday disappointed investors. First-quarter shipments of iPhones were below expectations, reinforcing perceptions that Apple is now mostly selling its mobile devices to repeat customers who are upgrading, instead of reeling in new customers. Apple also provided a cautious second-quarter revenue forecast.


----------



## bigdog

Source: http://finance.yahoo.com 

 Stock investors had plenty to dislike on Wednesday.

Disappointing earnings from big U.S. companies, ongoing jitters in emerging markets and more cuts to the Federal Reserve's economic stimulus combined to push stocks lower for the fourth day out of the last five.

Boeing slumped after the plane maker said its 2014 revenue and profit would fall short of analysts' expectations as its defense business slows and it delivers more of its 787 planes, which are less profitable. AT&T, the largest U.S. telecommunications company, fell after its outlook for the year disappointed investors.

Currencies including the Turkish lira and the South African rand fell against the dollar despite efforts by central banks in those countries to stem the declines by raising interest rates. Investors say those tighter credit policies, which can restrict lending, come with risks.

"If the central banks out there continue to hike interest rates, they are going to destroy economic activity," said Peter Cardillo, chief market economist at Rockwell Global Capital. "That will impact the global economy as well."

The Standard & Poor's 500 index fell 18.30 points, or 1 percent, to 1,774.20. The Dow Jones industrial average fell 189.77 points, or 1.2 percent, to 15,738.79. The Nasdaq composite dropped 46.53 points, or 1.1 percent, to 4,051.43.

Stocks opened lower in response to the lackluster earnings news. The market added to its declines after the Fed's announcement at 2 p.m. Eastern time.

The Fed said it will lower its monthly bond purchases by $10 billion to $65 billion because of a strengthening U.S. economy. The Fed is cutting back its bond purchases, which have held down long-term interest rates, even though the prospect of reduced stimulus has rattled global markets. The move was largely anticipated by analysts and investors.

Investors should view the Fed's move as a vote of confidence in the economy because it means the central bank sees the recovery as more entrenched, said Dan Genter, chief investment officer at RNC Genter Capital Management.

Fed policymakers are "not seeing enough bad news to stop that process, which should be viewed as a positive."

The S&P 500 has dropped nearly 4 percent since concerns about developing the emerging market jitters first surfaced last Thursday. That's when a survey showed that manufacturing in China, the world's second-biggest economy, was slowing in January.

Stocks have extended their declines as emerging market currencies have been battered in recent days.

The Turkish lira has been at the center of an emerging-market sell-off that prompted jitters in global stock markets over the past week. The currency surged against the U.S. dollar late Tuesday after Turkey's central bank raised its benchmark lending rate to fight rising inflation.

The lira traded at 2.26 to the U.S. dollar on Wednesday afternoon, slightly lower than it was before the central bank raised interest rates.

South Africa also raised its interest rates Wednesday but the move failed to shore up its currency. The South African rand dropped 3.2 percent against the dollar to 11.26 rand per dollar.

After a year of big gains, U.S. stock traders are now seeing red figures on their screens more often.

The S&P 500 index has fallen 4 percent this month, putting it on track for its biggest monthly decline since May 2012. That's a big contrast from last year, when the index rose 5 percent in January. The index ended the year up nearly 30 percent, its best performance since 1997. 								

 *The NYSE DOW closed  	LOWER ▼	-189.77	points or ▼	-1.19%	on	Wednesday, 29 January 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15738.79	▼	-189.77	▼	-1.19%		
	Nasdaq___	4051.43	▼	-46.53	▼	-1.14%		
	S&P_500__	1774.2	▼	-18.3	▼	-1.02%		
	30_Yr_Bond	3.62	▼	-0.05	▼	-1.36%		

NYSE Volume	 3,949,499,000 	 	 	 	 	  		 
Nasdaq Volume	 2,161,654,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6544.28	▼	-28.05	▼	-0.43%		
	DAX_____	9336.73	▼	-70.18	▼	-0.75%		
	CAC_40__	4156.98	▼	-28.31	▼	-0.68%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5240.6	▲	52.6	▲	1.01%		
	Shanghai_Comp	2049.91	▲	11.4	▲	0.56%		
	Taiwan_Weight	8462.57	▼	-135.74	▼	-1.58%		
	Nikkei_225____	15383.91	▲	403.75	▲	2.70%		
	Hang_Seng____	22141.61	▲	180.97	▲	0.82%		
	Strait_Times___	3051.04	▼	-11.37	▼	-0.37%		
	NZX_50_Index__	4882.72	▲	34.28	▲	0.71%		

http://finance.yahoo.com/news/stocks-slide-weak-earnings-fed-203844702.html

*Stocks slide on weak earnings; Fed cuts stimulus

Stocks slide after Fed cuts stimulus; Weak earnings, emerging market woes also weigh*

By Steve Rothwell, AP Markets Writer

Stock investors had plenty to dislike on Wednesday.

Disappointing earnings from big U.S. companies, ongoing jitters in emerging markets and more cuts to the Federal Reserve's economic stimulus combined to push stocks lower for the fourth day out of the last five.

Boeing slumped after the plane maker said its 2014 revenue and profit would fall short of analysts' expectations as its defense business slows and it delivers more of its 787 planes, which are less profitable. AT&T, the largest U.S. telecommunications company, fell after its outlook for the year disappointed investors.

Currencies including the Turkish lira and the South African rand fell against the dollar despite efforts by central banks in those countries to stem the declines by raising interest rates. Investors say those tighter credit policies, which can restrict lending, come with risks.

"If the central banks out there continue to hike interest rates, they are going to destroy economic activity," said Peter Cardillo, chief market economist at Rockwell Global Capital. "That will impact the global economy as well."

The Standard & Poor's 500 index fell 18.30 points, or 1 percent, to 1,774.20. The Dow Jones industrial average fell 189.77 points, or 1.2 percent, to 15,738.79. The Nasdaq composite dropped 46.53 points, or 1.1 percent, to 4,051.43.

Stocks opened lower in response to the lackluster earnings news. The market added to its declines after the Fed's announcement at 2 p.m. Eastern time.

The Fed said it will lower its monthly bond purchases by $10 billion to $65 billion because of a strengthening U.S. economy. The Fed is cutting back its bond purchases, which have held down long-term interest rates, even though the prospect of reduced stimulus has rattled global markets. The move was largely anticipated by analysts and investors.

Investors should view the Fed's move as a vote of confidence in the economy because it means the central bank sees the recovery as more entrenched, said Dan Genter, chief investment officer at RNC Genter Capital Management.

Fed policymakers are "not seeing enough bad news to stop that process, which should be viewed as a positive."

The S&P 500 has dropped nearly 4 percent since concerns about developing the emerging market jitters first surfaced last Thursday. That's when a survey showed that manufacturing in China, the world's second-biggest economy, was slowing in January.

Stocks have extended their declines as emerging market currencies have been battered in recent days.

The Turkish lira has been at the center of an emerging-market sell-off that prompted jitters in global stock markets over the past week. The currency surged against the U.S. dollar late Tuesday after Turkey's central bank raised its benchmark lending rate to fight rising inflation.

The lira traded at 2.26 to the U.S. dollar on Wednesday afternoon, slightly lower than it was before the central bank raised interest rates.

South Africa also raised its interest rates Wednesday but the move failed to shore up its currency. The South African rand dropped 3.2 percent against the dollar to 11.26 rand per dollar.

After a year of big gains, U.S. stock traders are now seeing red figures on their screens more often.

The S&P 500 index has fallen 4 percent this month, putting it on track for its biggest monthly decline since May 2012. That's a big contrast from last year, when the index rose 5 percent in January. The index ended the year up nearly 30 percent, its best performance since 1997.

On Wednesday, Yahoo was the biggest decliner in the S&P 500.

The internet company dropped $3.33, or 8.7 percent, to $34.89 after it reported a drop in fourth-quarter revenue late Tuesday, highlighting its trouble drawing online advertising dollars. Yahoo reported a 6 percent decline in revenue, the same rate of decline for all of 2013.

After the market closed, investors got some encouraging earnings news from two technology companies. Facebook soared 10 percent in after-hours trading after its earnings and revenue surpassed analysts' expectations. The company expanded the number of users and the amount of money it makes on mobile ads.

Qualcomm, which makes chips for cell phones, rose 3 percent in after-hours trading. Its earnings came in well ahead of what financial analysts were expecting.

Bond prices rose as investors looked for safer assets. The yield on the 10-year Treasury note fell to 2.69 percent from 2.75 percent. The yield on the note is the lowest it's been since November. It climbed as high as 3 percent Jan. 3.

Stocks that reacted to earnings news included Boeing, which fell $7.31, or 5.2 percent, to $129.78.

AT&T fell 39 cents, or 1.2 percent, to $33.31 after its outlook for the year disappointed investors. The phone company said its forecast "assumes no lift from the economy." AT&T predicted earnings in the mid-single digit range.

Dow Chemical rose $1.67, or 3.9 percent, to $44.73 after the company increased its quarterly dividend and expanded its share-purchase program.


----------



## bigdog

Source: http://finance.yahoo.com 

 It was a stock market reversal.

Stocks rose sharply Thursday, with large parts of the market erasing Wednesday's losses, as investors cheered a batch of strong earnings and data that showed the U.S. economy grew at a robust annual rate of 3.2 percent in the fourth quarter.

Investors also got a welcome respite from the recent turmoil in overseas markets, particularly in Turkey and Argentina.

The Standard & Poor's 500 index rose 19.99 points, or 1.1 percent, to 1,794.19, with all ten sectors of the index closing higher. That more than made up the 18.29 points the index lost on Wednesday.

The Nasdaq composite jumped 71.69 points, or 1.8 percent, to 4,123.13 and the Dow Jones industrial average rose 109.82 points, or 0.7 percent, to 15,848.61.

Facebook jumped $7.55, or 14 percent, to $61.08. The social media company reported results late Wednesday that exceeded the expectations of financial analysts. Facebook's adjusted profit was 31 cents per share, four cents better than forecast.

It wasn't all good news out of the technology sector. Amazon.com sank in after-hours trading after releasing results that fell short of what investors were expecting. The stock of the online retailing pioneer dropped $35.47, or 9 percent, to $367.54.

In other earnings news, Visa rose $3.76, or 2 percent, to $220.88 after the company reported a 9 percent rise in first-quarter profits, beating expectations.

Alexion Pharmaceuticals was the biggest advancer in the S&P 500, rising $28.27, or 21 percent, to $162 after the company also beat analysts' expectations and gave a strong 2014 outlook. Alexion is a specialized drug maker focused on rare genetic diseases.

Alexion helped lift the stocks of other drugmakers. Dow members Merck and Pfizer each rose more than 2 percent. Specialized drugmakers Gilead Sciences and Biogen were up 2 percent and 4 percent, respectively.

Investors also cheered news that U.S. economy grew at a 3.2 percent annual rate in the final three months of 2013, a positive sign for the economy in 2014. Consumer spending, a major driver of the U.S. economy, picked up in the quarter.

"It was a good, balanced GDP report," said Sean Lynch, global investment strategist with Wells Fargo Private Bank, which manages $170 billion in assets.

Even with Thursday's gain, it's been a difficult month for investors. The Dow is down 4.4 percent in January, the worst start to a year since 2009.

Emerging markets worries drove most of the sell-off over the last two weeks. A survey last week confirmed that manufacturing in China, the world's second-biggest economy, slowed in January. And this week, the Turkish lira hit record lows, partly because a police bribery scandal there might destabilize the Turkish government.								

 *The NYSE DOW closed  	HIGHER ▲	109.82	points or ▲	0.70%	on	Thursday, 30 January 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15848.61	▲	109.82	▲	0.70%		
	Nasdaq___	4123.12	▲	71.69	▲	1.77%		
	S&P_500__	1794.19	▲	19.99	▲	1.13%		
	30_Yr_Bond	3.63	▲	0.01	▲	0.36%		

NYSE Volume	 3,510,830,000 	 	 	 	 	  		 
Nasdaq Volume	 2,105,653,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6538.45	▼	-5.83	▼	-0.09%		
	DAX_____	9373.48	▲	36.75	▲	0.39%		
	CAC_40__	4180.02	▲	23.04	▲	0.55%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5199.4	▼	-41.2	▼	-0.79%		
	Shanghai_Comp	2033.08	▼	-16.83	▼	-0.82%		
	Taiwan_Weight	8462.57	▼	-135.74	▼	-1.58%		
	Nikkei_225____	15007.06	▼	-376.85	▼	-2.45%		
	Hang_Seng____	22035.42	▼	-106.19	▼	-0.48%		
	Strait_Times___	3027.22	▲	0	▲	0.00%		
	NZX_50_Index__	4849.84	▼	-32.88	▼	-0.67%		

http://finance.yahoo.com/news/us-stocks-move-higher-helped-172402077.html

*Stocks rebound with help from company earnings, stabilizing emerging markets; Facebook jumps*

 It was a stock market reversal.

Stocks rose sharply Thursday, with large parts of the market erasing Wednesday's losses, as investors cheered a batch of strong earnings and data that showed the U.S. economy grew at a robust annual rate of 3.2 percent in the fourth quarter.

Investors also got a welcome respite from the recent turmoil in overseas markets, particularly in Turkey and Argentina.

The Standard & Poor's 500 index rose 19.99 points, or 1.1 percent, to 1,794.19, with all ten sectors of the index closing higher. That more than made up the 18.29 points the index lost on Wednesday.

The Nasdaq composite jumped 71.69 points, or 1.8 percent, to 4,123.13 and the Dow Jones industrial average rose 109.82 points, or 0.7 percent, to 15,848.61.

Facebook jumped $7.55, or 14 percent, to $61.08. The social media company reported results late Wednesday that exceeded the expectations of financial analysts. Facebook's adjusted profit was 31 cents per share, four cents better than forecast.

It wasn't all good news out of the technology sector. Amazon.com sank in after-hours trading after releasing results that fell short of what investors were expecting. The stock of the online retailing pioneer dropped $35.47, or 9 percent, to $367.54.

In other earnings news, Visa rose $3.76, or 2 percent, to $220.88 after the company reported a 9 percent rise in first-quarter profits, beating expectations.

Alexion Pharmaceuticals was the biggest advancer in the S&P 500, rising $28.27, or 21 percent, to $162 after the company also beat analysts' expectations and gave a strong 2014 outlook. Alexion is a specialized drug maker focused on rare genetic diseases.

Alexion helped lift the stocks of other drugmakers. Dow members Merck and Pfizer each rose more than 2 percent. Specialized drugmakers Gilead Sciences and Biogen were up 2 percent and 4 percent, respectively.

Investors also cheered news that U.S. economy grew at a 3.2 percent annual rate in the final three months of 2013, a positive sign for the economy in 2014. Consumer spending, a major driver of the U.S. economy, picked up in the quarter.

"It was a good, balanced GDP report," said Sean Lynch, global investment strategist with Wells Fargo Private Bank, which manages $170 billion in assets.

Even with Thursday's gain, it's been a difficult month for investors. The Dow is down 4.4 percent in January, the worst start to a year since 2009.

Emerging markets worries drove most of the sell-off over the last two weeks. A survey last week confirmed that manufacturing in China, the world's second-biggest economy, slowed in January. And this week, the Turkish lira hit record lows, partly because a police bribery scandal there might destabilize the Turkish government.

In Argentina, the peso had its sharpest slide in 12 years earlier this month.

"The currency problems in the emerging markets caught a lot of people by surprise, and that overflowed in to U.S. markets," Lynch said.

Investors got a break from the troubles in emerging markets Thursday. The Turkish lira, Argentinian peso and the South African rand, another troubled currency, stabilized.

The iShares MSCI Emerging Markets ETF, an exchange-traded fund that tracks stocks located in less-developed countries, rose 1 percent after falling 1.5 percent the day before.

Even with Thursday's upturn, the broader trend in the market appears to be downward for the time being, strategists say. The Dow has risen only two out of the last eight trading days.

"I'm pretty focused on corporate earnings, and that's about it," said Ian Winer, director of trading at Wedbush Securities. "Earnings have been OK, but not all that great. I think we're going lower, and I think (the sell-off this month) is just the beginning."

Several investors have said the U.S. stock market will experience a "correction," meaning a decline of 10 percent or more in a benchmark index like the S&P 500, sometime this year. That chorus has gotten louder in the last couple of weeks. The last time the market had a correction was in October 2011.

"The markets have been looking for a reason to pull back and certainly the emerging markets and currency problems gave them a reason to do so," Lynch said.

The bond market also had a day of stability. The yield on the U.S. 10-year Treasury note edged up to 2.70 percent from 2.68 percent the day before.


----------



## bigdog

Source: http://finance.yahoo.com 

Stock investors were hit from all sides in January.

Concerns about the global economy and U.S. company earnings, as well as turmoil in emerging markets, led major indexes to their worst month in two years. However, many investors remain hopeful that the problems in January will not spill over into the rest of 2014.

They even see this month's downturn as healthy, given the U.S. market's torrid 30 percent rise last year.

The Dow Jones industrial average fell 5.3 percent in January, the worst start to a year since 2009. The Standard & Poor's 500 index fell 3.6 percent this month and the Nasdaq composite fell 2 percent.

Investors entered the year with some degree of skepticism and nervousness. The stock market went basically straight up in 2013. The S&P 500 index ended 2013 with a gain of nearly 30 percent, its best year since 1997.

"No amount of negative news could derail the market last year," said Jonathan Corpina, a floor trader at the New York Stock Exchange with Meridan Equity Partners.

But no stock market can go straight up forever.

Many investors expected 2014 to be a more muddled and volatile for the market. Market strategists late last year were looking for the S&P 500 index to notch a modest gain of 4 percent to 6 percent, ending in the range of 1,850 to 1,900.

Investors were also looking for more pullbacks this year and possibly a correction, the technical term for when a stock market index like the S&P 500 falls 10 percent or more. Three months ago, analysts at Goldman Sachs said there was roughly a 60 percent chance that a correction would happen this year.

"People did look at these stock market valuations at the beginning of the year with a degree of nervousness," said David Kelly, chief market strategist with J.P. Morgan Funds. "A correction would probably be healthy for the market."

But many investors were surprised by January's turbulence. With one exception, the Dow had triple-digit moves every trading day in January.

Still, with the broader S&P 500 index down just 3.6 percent from its January 15 peak, the downturn is hardly severe.

"There's been some negative news out there — the economic data, corporate earnings and what's now going on in emerging markets — but I'm not convinced the headlines are bad enough to be a catalyst to push us into a correction," Corpina said.

Investors point to the December jobs report, released on Jan. 10, as when the troubles began. The U.S. government said employers created only 74,000 jobs in December, the worst month for job creation in since 2011 and far below expectations.

Up until then, weeks of data showed that the U.S. economic recovery was accelerating. U.S. companies were selling record levels of goods overseas; layoffs had dwindled; and the Federal Reserve was pulling back on its economic stimulus program, citing an improving economy.

Many investors called the December jobs report as a statistical fluke. But the report has weighed on stocks all month, investors say.

"It set a negative tone for the market," Kelly said.

Other economic reports also painted a picture of U.S. economic growth possibly flattening out instead of accelerating.

Investors combined these economic worries with mixed signals from U.S. companies.								

 *The NYSE DOW closed  	LOWER ▼	-149.76	points or ▼	-0.94%	on	Friday, 31 January 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15698.85	▼	-149.76	▼	-0.94%		
	Nasdaq___	4103.88	▼	-19.25	▼	-0.47%		
	S&P_500__	1782.59	▼	-11.6	▼	-0.65%		
	30_Yr_Bond	3.62	▼	-0.01	▼	-0.36%		

NYSE Volume	 4,041,407,750 	 	 	 	 	  		 
Nasdaq Volume	 2,236,559,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6510.44	▼	-28.01	▼	-0.43%		
	DAX_____	9306.48	▼	-67	▼	-0.71%		
	CAC_40__	4165.72	▼	-14.3	▼	-0.34%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5205.1	▲	5.7	▲	0.11%		
	Shanghai_Comp	2033.08	▼	-16.83	▼	-0.82%		
	Taiwan_Weight	8462.57	▼	-135.74	▼	-1.58%		
	Nikkei_225____	14914.53	▼	-92.53	▼	-0.62%		
	Hang_Seng____	22035.42	▼	-106.19	▼	-0.48%		
	Strait_Times___	3027.22	▲	0	▲	0.00%		holiday
	NZX_50_Index__	4874.58	▲	24.74	▲	0.51%		

http://finance.yahoo.com/news/us-stocks-end-tough-january-215650944.html

*US stocks end tough January with another decline

Stocks end tough January with another decline; S&P 500 index down 4 pct for month*

By Ken Sweet, AP Markets Writer

Stock investors were hit from all sides in January.

Concerns about the global economy and U.S. company earnings, as well as turmoil in emerging markets, led major indexes to their worst month in two years. However, many investors remain hopeful that the problems in January will not spill over into the rest of 2014.

They even see this month's downturn as healthy, given the U.S. market's torrid 30 percent rise last year.

The Dow Jones industrial average fell 5.3 percent in January, the worst start to a year since 2009. The Standard & Poor's 500 index fell 3.6 percent this month and the Nasdaq composite fell 2 percent.

Investors entered the year with some degree of skepticism and nervousness. The stock market went basically straight up in 2013. The S&P 500 index ended 2013 with a gain of nearly 30 percent, its best year since 1997.

"No amount of negative news could derail the market last year," said Jonathan Corpina, a floor trader at the New York Stock Exchange with Meridan Equity Partners.

But no stock market can go straight up forever.

Many investors expected 2014 to be a more muddled and volatile for the market. Market strategists late last year were looking for the S&P 500 index to notch a modest gain of 4 percent to 6 percent, ending in the range of 1,850 to 1,900.

Investors were also looking for more pullbacks this year and possibly a correction, the technical term for when a stock market index like the S&P 500 falls 10 percent or more. Three months ago, analysts at Goldman Sachs said there was roughly a 60 percent chance that a correction would happen this year.

"People did look at these stock market valuations at the beginning of the year with a degree of nervousness," said David Kelly, chief market strategist with J.P. Morgan Funds. "A correction would probably be healthy for the market."

But many investors were surprised by January's turbulence. With one exception, the Dow had triple-digit moves every trading day in January.

Still, with the broader S&P 500 index down just 3.6 percent from its January 15 peak, the downturn is hardly severe.

"There's been some negative news out there — the economic data, corporate earnings and what's now going on in emerging markets — but I'm not convinced the headlines are bad enough to be a catalyst to push us into a correction," Corpina said.

Investors point to the December jobs report, released on Jan. 10, as when the troubles began. The U.S. government said employers created only 74,000 jobs in December, the worst month for job creation in since 2011 and far below expectations.

Up until then, weeks of data showed that the U.S. economic recovery was accelerating. U.S. companies were selling record levels of goods overseas; layoffs had dwindled; and the Federal Reserve was pulling back on its economic stimulus program, citing an improving economy.

Many investors called the December jobs report as a statistical fluke. But the report has weighed on stocks all month, investors say.

"It set a negative tone for the market," Kelly said.

Other economic reports also painted a picture of U.S. economic growth possibly flattening out instead of accelerating.

Investors combined these economic worries with mixed signals from U.S. companies.

Wall Street is in the middle of earnings season, when the country's major corporations report results for the final three months of the year. Half of the members of the S&P 500 have reported, and the results have been mixed. While fourth-quarter corporate earnings are up a respectable 7.9 percent from a year earlier, companies have been cutting their full-year outlooks and reporting weaker sales, according to data provider FactSet.

Wal-Mart, the nation's largest retailer, said Friday that earnings may come in at the low end or below its prior forecasts. It also expects sales at stores open at least a year to be flat. The company previously forecast that sales would be modestly higher.

Wal-Mart's forecast echo the comments from Macy's, Target, Best Buy and other retailers.

Of the companies who have reported so far, 44 companies have cut their full-year profit outlooks while 10 have increased their outlooks, according to data from FactSet.

Adding to concerns about the U.S. economy and earnings were problems in overseas markets.

The bad overseas news started with China. A recent report showed that manufacturing activity in the world's second-largest economy unexpectedly contracted in January. The report added to other recent signs that the Chinese economy was slowing down after years of massive growth.

Then came currency troubles in smaller emerging markets, particularly Turkey, South Africa and Argentina.

All three saw their currencies fall sharply against the dollar, as investors began to pull out of emerging markets and return their money to less-risky parts of the globe.

"These governments were financing themselves with (foreign investor money), and now that these investors are looking to go home, there's no source of money to replace them," said Krishna Memani, chief investment officer at Oppenheimer Funds.

On Friday, the U.S. stock market closed out January on yet another down note. The Dow fell 149.70 points, or 0.9 percent, to 15,698.91. The S&P 500 dropped 11.61 points, or 0.7 percent, to 1,782.57 and the Nasdaq lost 19.25 points, or 0.5 percent, to 4,103.88.

Investors shouldn't panic yet, money managers say.

They will get the January jobs report next week. Also, another 93 members of the S&P 500 are scheduled to report earnings.

"A 5 percent decline in equities is not an earthshattering event by any measure, particularly after last year," Memani said. "It's still way too early to give up on equities."

2491


----------



## bigdog

Source: http://finance.yahoo.com 

For investors, February is starting out just as rough as January.

U.S. stocks tumbled on Monday, pushing the Dow Jones industrial average down more than 320 points after reports of sluggish U.S growth added to investor worries about the global economy. The slump follows the Dow's worst January performance since 2009.

The market stumbled from the get-go, with U.S. markets opening lower after declines in European and Japanese indexes. Then it quickly turned into a slide as a spate of discouraging economic data on everything from manufacturing to auto sales to construction spending poured in.

By late afternoon, the sell-off accelerated further, bringing the Dow down more than 7 percent for the year. The S&P 500 index was down more than 5 percent on the year.

Some stock watchers took the market's decline in stride. They considered it a necessary recalibration following the market's record highs at the end of last year.

"It's a bit painful for investors to see the equities markets drop as they have, but this is healthy for this market," said Chris Gaffney, a senior market strategist at EverBank. "We've been almost 2-1/2 years without a 10 percent correction. So we're still in that healthy correction, if you will."

All told, the Dow tumbled 326.05 points, or 2.1 percent, to 15,372.80. It fell as much as 342 points earlier in the afternoon. The Standard & Poor's 500 index lost 40.70 points, or 2.3 percent, to 1,741.89. The Nasdaq composite dropped 106.92 points, or 2.6 percent, to 3,996.96.

There were signs of worry throughout the market. The VIX index, a measure of stock market volatility, rose to its highest level since December 2012. Investors shifted into U.S. government bonds, pushing yields lower and continuing their sharp decline since the start of the year.

Staffing company Robert Half International fell the most among stocks in the S&P 500 index. CarMax and Pfizer were among the few stocks to eke out gains on the day.

Cold U.S. weather emerged as common problem for the economy last month.

Investors were discouraged Monday by a private survey showing U.S. manufacturing barely expanded last month as frigid temperatures delayed shipments of raw materials and caused some factories to shut down. Construction spending rose modestly in December, slowing from healthy gains a month earlier.								

 *The NYSE DOW closed  	LOWER ▼	-326.05	points or ▼	-2.08%	on	Monday, 3 February 2014	**
 Symbol …........Last ......Change..... * 
	Dow_Jones	15372.8	▼	-326.05	▼	-2.08%		
	Nasdaq___	3996.96	▼	-106.92	▼	-2.61%		
	S&P_500__	1741.89	▼	-40.7	▼	-2.28%		
	30_Yr_Bond	3.54	▼	-0.08	▼	-2.26%		

NYSE Volume	 4,684,208,500 	 	 	 	 	  		 
Nasdaq Volume	 2,531,849,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6465.66	▼	-72.79	▼	-1.11%		
	DAX_____	9186.52	▼	-119.96	▼	-1.29%		
	CAC_40__	4107.75	▼	-57.97	▼	-1.39%		

 *Asia Pacific							**
 Symbol...... ….....Last .....Change…...... * 
	ASX_All_Ord__	5201.9	▼	-3.2	▼	-0.06%		
	Shanghai_Comp	2033.08	▼	-16.83	▼	-0.82%		
	Taiwan_Weight	8462.57	▼	-135.74	▼	-1.58%		
	Nikkei_225____	14619.13	▼	-295.4	▼	-1.98%		
	Hang_Seng____	22141.61	▼	-106.19	▼	-0.48%		
	Strait_Times___	2990.95	▼	-36.27	▼	-1.20%		
	NZX_50_Index__	4849.5	▼	-25.08	▼	-0.51%		

http://finance.yahoo.com/news/tough-january-stock-extend-slide-205006613.html

*After tough January, stock extend slide

US stocks slide in afternoon trading amid signs of lackluster growth*

By Alex Veiga, AP Business Writer 

For investors, February is starting out just as rough as January.

U.S. stocks tumbled on Monday, pushing the Dow Jones industrial average down more than 320 points after reports of sluggish U.S growth added to investor worries about the global economy. The slump follows the Dow's worst January performance since 2009.

The market stumbled from the get-go, with U.S. markets opening lower after declines in European and Japanese indexes. Then it quickly turned into a slide as a spate of discouraging economic data on everything from manufacturing to auto sales to construction spending poured in.

By late afternoon, the sell-off accelerated further, bringing the Dow down more than 7 percent for the year. The S&P 500 index was down more than 5 percent on the year.

Some stock watchers took the market's decline in stride. They considered it a necessary recalibration following the market's record highs at the end of last year.

"It's a bit painful for investors to see the equities markets drop as they have, but this is healthy for this market," said Chris Gaffney, a senior market strategist at EverBank. "We've been almost 2-1/2 years without a 10 percent correction. So we're still in that healthy correction, if you will."

All told, the Dow tumbled 326.05 points, or 2.1 percent, to 15,372.80. It fell as much as 342 points earlier in the afternoon. The Standard & Poor's 500 index lost 40.70 points, or 2.3 percent, to 1,741.89. The Nasdaq composite dropped 106.92 points, or 2.6 percent, to 3,996.96.

There were signs of worry throughout the market. The VIX index, a measure of stock market volatility, rose to its highest level since December 2012. Investors shifted into U.S. government bonds, pushing yields lower and continuing their sharp decline since the start of the year.

Staffing company Robert Half International fell the most among stocks in the S&P 500 index. CarMax and Pfizer were among the few stocks to eke out gains on the day.

Cold U.S. weather emerged as common problem for the economy last month.

Investors were discouraged Monday by a private survey showing U.S. manufacturing barely expanded last month as frigid temperatures delayed shipments of raw materials and caused some factories to shut down. Construction spending rose modestly in December, slowing from healthy gains a month earlier.

Automakers also piled on the disappointing news, as an icy January slowed vehicle purchases.

Ford shares slipped 41 cents, or 2.7 percent, to $14.55 and General Motors shares fell 83 cents, or 2.3 percent, to $35.25 after the automakers reported a drop in U.S. January sales, hurt by harsh weather that kept customers away from dealerships.

GM sales fell 12 percent, while Ford said sales fell 7 percent. Chrysler bucked the trend with U.S. sales gains of 8 percent, and analysts still expect U.S. auto sales to reach more than 16 million this year ”” a return to pre-recession levels.

"Investors had expectations going into 2014 of a much stronger U.S. economic recovery than actually what we're seeing and we've had to reset our expectations," Gaffney said.

Fresh signs of weakness in China also weighed on the minds of investors.

An official Chinese manufacturing survey released over the weekend showed factory output grew at a slower rate in January compared with December in the world's second-largest economy. The report released on the weekend followed an HSBC survey that showed an outright contraction in manufacturing.

Investors have been looking for more pullbacks this year and possibly a correction, the technical term for when a stock market index like the S&P 500 falls10 percent or more. Three months ago, analysts at Goldman Sachs said there was roughly a 60 percent chance that a correction would happen this year.

Monday's slide moved the market closer to possibility.

Among other negative signs for the market: In 2013, the Dow had only one 300-point-plus down day. It's had two 300-plus drops in 2014, barely two months in.

"I think we are in correction phase and the bias will be to the downside for a while longer," said Frank Davis, director of trading at LEK Securities. "It would make sense to see a healthy pullback after last year. Air has to come out of the market."

All 10 sectors in the S&P 500 index fell, and telecommunications stocks posted the biggest declines, weighed down by AT&T and Verizon Communications.

Mattel fell $1.79, or 4.7 percent, to $36.05. The world's largest maker of toys reported on Friday that sales of Barbie and Fisher-Price preschool items dropped in its fourth quarter.

Also among the decliners: Jos. A Bank Clothiers, which fell $2.83, or 5 percent, to $53.39 on continued doubts that a takeover bid by rival clothier Men's Wearhouse will go through. The two retailers have been dueling since October when Jos. A. Bank offered $2.3 billion for Men's Wearhouse.

A few stocks posted gains.

Pfizer rose 20 cents, or 0.7 percent, to $30.60, after the company reported that a mid-stage study of an experimental drug for advanced breast cancer met the main goals. The drug is seen as a potential huge seller. Pfizer was the only stock to rise among the 30 members of the Dow.

Facing lower stocks and global jitters, investors moved into the relative safety of U.S. government bonds. Bond prices rose, and the yield on the U.S. 10-year Treasury note fell to 2.58 percent from 2.65 percent on Friday. The 10-year has had a dramatic move in the last two weeks. In mid-January, the 10-year note was trading at a yield around 2.9 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

Investors went hunting for bargains a day after U.S. stocks racked up the biggest losses in more than seven months.

The buying helped lift major stock indexes out of the red on Tuesday. Prices of U.S. government bonds fell.

The mini-rebound seemed fragile at times, with the market giving up some of its earlier gains by late afternoon.

Markets were coming off a 326-point drop in the Dow Jones industrial average on Monday, and the blue-chip index's worst January performance in five years prompted by disappointing news about U.S. manufacturing.

"It was the biggest hole we've seen for quite a bit, so it's not surprising to see a green day after a couple days of red," said Andres Garcia-Amaya, a global market strategist with J.P. Morgan Funds.

Portfolio managers seized on the aftermath of Monday's sell-off to buy, even as many stock watchers acknowledged that the market could still be in for a correction, or a drop of at least 10 percent.

"The one thing you never know is when the bottom is going to hit in a downturn," said Quincy Krosby, a market strategist with Prudential Financial. "So what you might do is at least begin the process of building your position."

Among the biggest gainers on the day were fashion retailer Michael Kors Holdings, water technology provider Xylem and the owner of Pizza Hut, KFC and Taco Bell restaurant chains.

Trading was relatively light for much of the day, picking up by late afternoon. But most of the active stocks were in the green.

All told, the Dow rose 72.44 points, or 0.5 percent, to close at 15,445.24 Tuesday. The Standard & Poor's 500 index climbed 13.31 points, or 0.8 percent, to 1,755.20. The Nasdaq composite gained 34.56 points, or 0.9 percent, to 4,031.52.

Even with Tuesday's gains, the Dow is down 6.8 percent this year, and the S&P 500 index is off 5 percent .

Investors are trying to gauge the strength of the U.S. economic recovery. They got some positive news on Tuesday, when the Commerce Department reported that orders to U.S. factories fell 1.5 percent in December, as aircraft orders plunged. That's the biggest drop since July, but it was less than anticipated.

On Monday, the Institute for Supply Management said its index of manufacturing activity fell to 51.3 in January, the lowest reading since May. That unnerved investors already worried about signs of a slowdown in the global economy.

Whether Tuesday's market uptick gains momentum or gives way to another sell-off may depend on what the government's latest jobs report says on Friday.

Employers added just 74,000 jobs in December, the fewest in three years and far below the average of 214,000 added in the previous four months. The consensus forecast for January calls for hiring to rebound to 170,000, according to FactSet.

"These numbers are very subject to revisions and it would be comforting for investors to see that (December) number revised upward," said Krosby. "It would console investors that the economy has not lost momentum."

Between now and then, Wall Street will parse company earnings for more clues about the economy's health.

Among companies due to report on Wednesday: Time Warner, Merck, Yelp, Walt Disney and Allstate.

"For the next couple of days, I think the volatility remains," said David Chalupnik, head of equities for Nuveen Asset Management. "I don't know if we've seen the bottom to this pullback or correction."

Investors rewarded some companies who reported earnings on Tuesday.								

 *The NYSE DOW closed  	HIGHER ▲	72.44	points or ▲	0.47%	on	Tuesday, 4 February 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	15,445.24	▲	72.44	▲	0.47%		
	Nasdaq____	4,031.52	▲	34.56	▲	0.86%		
	S&P_500___	1,755.20	▲	13.31	▲	0.76%		
	30_Yr_Bond____	3.59	▲	0.05	▲	1.50%		

NYSE Volume	 4,029,751,000 	 	 	 	 	  		 
Nasdaq Volume	 2,118,099,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,449.27	▼	-16.39	▼	-0.25%		
	DAX_____	9,127.91	▼	-58.61	▼	-0.64%		
	CAC_40__	4,117.45	▲	9.70	▲	0.24%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,114.10	▼	-87.80	▼	-1.69%		
	Shanghai_Comp	2,033.08	▼	-16.83	▼	-0.82%		
	Taiwan_Weight	8,462.57	▼	-135.74	▼	-1.58%		
	Nikkei_225___	14,008.47	▼	-610.66	▼	-4.18%		
	Hang_Seng.__	21,397.77	▼	-637.65	▼	-2.89%		
	Strait_Times.__	2,965.80	▼	-25.15	▼	-0.84%		
	NZX_50_Index_	4,820.28	▲	17.66	▲	0.37%		

http://finance.yahoo.com/news/bargain-hunting-drives-slight-gains-221942976.html

*Bargain-hunting drives slight gains for US stocks

Just a blip? US stocks muster modest rebound after day of heavy losses*

By Alex Veiga, AP Business Writer 

Investors went hunting for bargains a day after U.S. stocks racked up the biggest losses in more than seven months.

The buying helped lift major stock indexes out of the red on Tuesday. Prices of U.S. government bonds fell.

The mini-rebound seemed fragile at times, with the market giving up some of its earlier gains by late afternoon.

Markets were coming off a 326-point drop in the Dow Jones industrial average on Monday, and the blue-chip index's worst January performance in five years prompted by disappointing news about U.S. manufacturing.

"It was the biggest hole we've seen for quite a bit, so it's not surprising to see a green day after a couple days of red," said Andres Garcia-Amaya, a global market strategist with J.P. Morgan Funds.

Portfolio managers seized on the aftermath of Monday's sell-off to buy, even as many stock watchers acknowledged that the market could still be in for a correction, or a drop of at least 10 percent.

"The one thing you never know is when the bottom is going to hit in a downturn," said Quincy Krosby, a market strategist with Prudential Financial. "So what you might do is at least begin the process of building your position."

Among the biggest gainers on the day were fashion retailer Michael Kors Holdings, water technology provider Xylem and the owner of Pizza Hut, KFC and Taco Bell restaurant chains.

Trading was relatively light for much of the day, picking up by late afternoon. But most of the active stocks were in the green.

All told, the Dow rose 72.44 points, or 0.5 percent, to close at 15,445.24 Tuesday. The Standard & Poor's 500 index climbed 13.31 points, or 0.8 percent, to 1,755.20. The Nasdaq composite gained 34.56 points, or 0.9 percent, to 4,031.52.

Even with Tuesday's gains, the Dow is down 6.8 percent this year, and the S&P 500 index is off 5 percent .

Investors are trying to gauge the strength of the U.S. economic recovery. They got some positive news on Tuesday, when the Commerce Department reported that orders to U.S. factories fell 1.5 percent in December, as aircraft orders plunged. That's the biggest drop since July, but it was less than anticipated.

On Monday, the Institute for Supply Management said its index of manufacturing activity fell to 51.3 in January, the lowest reading since May. That unnerved investors already worried about signs of a slowdown in the global economy.

Whether Tuesday's market uptick gains momentum or gives way to another sell-off may depend on what the government's latest jobs report says on Friday.

Employers added just 74,000 jobs in December, the fewest in three years and far below the average of 214,000 added in the previous four months. The consensus forecast for January calls for hiring to rebound to 170,000, according to FactSet.

"These numbers are very subject to revisions and it would be comforting for investors to see that (December) number revised upward," said Krosby. "It would console investors that the economy has not lost momentum."

Between now and then, Wall Street will parse company earnings for more clues about the economy's health.

Among companies due to report on Wednesday: Time Warner, Merck, Yelp, Walt Disney and Allstate.

"For the next couple of days, I think the volatility remains," said David Chalupnik, head of equities for Nuveen Asset Management. "I don't know if we've seen the bottom to this pullback or correction."

Investors rewarded some companies who reported earnings on Tuesday.

Michael Kors jumped $13.24, or 17.3 percent, to $89.91 after the fashion retailer reported stronger results.

Yum! Brands jumped $5.90, or 9 percent, to $72.06 after the owner of KFC reported better-than-expected earnings late Monday. It also indicated it remains confident about its earnings growth forecast for the year.

Water technology provider Xylem made a splash, rising $3.47, or 11 percent, to $36.27, after it reported better-than-anticipated results for its fourth quarter.

Microsoft drew a muted response from investors after the tech giant named Satya Nadella as its new CEO. Founder Bill Gates is also stepping down as chairman and will become a technology adviser to the company. The news lowered shares 13 cents, or 0.4 percent, to $36.35.

Nine out of the 10 sectors in the S&P 500 posting gains.

Utilities were the laggard, with Dominion Resources leading the decline. Shares slid $1.27, or 2 percent, to $65.85.

The Dun & Bradstreet Corp posted the biggest decline in the S&P 500. The company shed $10.80, or 10 percent, to $95.58.

Most U.S. homebuilders were trading higher following a report by real estate data firm CoreLogic that showed U.S. home prices climbed 11 percent in December from a year earlier. Home prices slipped from November to December, the third consecutive monthly decline. Builder NVR was tops among the risers, adding $27.02, or 2.4 percent, to $1,164.02.

The yield on the 10-year Treasury note climbed to 2.63 percent from 2.58 percent on Monday as investors sold bonds.

For most of the year, investors have bought bonds amid concern that U.S. growth is slowing after a strong fourth quarter, and because the Federal Reserve had reduced its own purchases of bonds.

The yield remains well below the 2.97 percent it clocked on Dec. 31. That could be good news for homebuyers and companies looking to borrow money.


----------



## bigdog

Source: http://finance.yahoo.com 

Wall Street took a step backward Wednesday. Then a tiny step forward. Then back.

The tentative dance amounted to little change for major U.S. stock indexes, which ended the day just below their prior day's levels.

For the week, stocks remained down, extending the sharp downturn for the year.

"We're seeing some buyers coming in on the weakness, but not enough to push the market higher," said Joe Bell, senior equity analyst with Schaeffer's Investment Research.

Stocks were down in premarket trading and continued to slide for much of the day. A survey on U.S. hiring did little to ease uncertainty over the health of the American economy.

Many investors remain leery, waiting to see if upcoming economic reports and company earnings will show that the U.S. economic recovery is on track.

"This is about as flat as it gets," said Rex Macey, chief investment officer of Wilmington Trust Investment Advisors. "It's a market looking for direction."

The Dow Jones industrial average fell 5.01 points, or 0.03 percent, to close at 15,440.23 Wednesday. The Standard & Poor's 500 index slipped 3.56 points, or 0.2 percent, to 1,751.64. The Nasdaq composite dropped 19.97 points, or 0.5 percent, to 4,011.55.

Six of the 10 sectors in the S&P 500 finished lower. Telecoms and energy stocks registered the biggest industry declines.

Investors hammered trucking company C.H. Robinson Worldwide, which a day earlier reported fourth-quarter results that missed Wall Street estimates. Its shares fell $5.48, or 9 percent, to $53.16, to lead the S&P 500's decliners.

Cerner, a health care information technology provider, and cosmetics maker Estee Lauder were also among the stocks posting large losses. Cerner shares fell $3.39, or nearly 6 percent, to $53.21. Estee Lauder slumped $3.83, or 5.5 percent, to $65.36.

Markets started the week with a 326-point drop in the Dow, triggered by disappointing news about the U.S. manufacturing.

The Dow, which fell as much as 104 points Wednesday, ended the day down 6.9 percent for this year. The S&P 500 closed down 5.2 percent so far in 2014.

A private survey on Wednesday showed that U.S. businesses added jobs at a steady but modest pace in January, a sign that hiring has rebounded after a disappointing figure in December. Payroll processor ADP said companies added 175,000 jobs last month. That's down from 227,000 in December, which was revised lower. But it was much better than the government's official figure of just 74,000 new jobs in December. The ADP numbers cover only private businesses and often diverge from the government's more comprehensive report due out Friday.

Investors are trying to get a clear picture of the U.S. economy and the prospect for corporate earnings growth this year, but they've had to sort through a bevy of mixed signals in recent weeks.

There's been encouraging news ”” the nation's economy grew at a 3.2 percent annual rate in the October-December quarter on the strength of the strongest consumer spending in three years. But concerns are growing that the U.S. and global economies may be weakening due to slowing growth in China and in other emerging markets.

Add to this harsh winter weather, which some analysts expect could have had a negative impact on the economy in December and January.

"There's a bit of uncertainty about all of that," Macey said.

And then there's earnings season, which Macey and other analysts sum up so far as good overall. Still, many companies have offered outlooks that fell short of Wall Street's expectations.

"It's part of what's unsettling the market," Macey said.								

 *The NYSE DOW closed  	LOWER ▼	-5.01	points or ▼	-0.03%	on	Wednesday, 5 February 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	15,440.23	▼	-5.01	▼	-0.03%		
	Nasdaq____	4,011.55	▼	-19.97	▼	-0.50%		
	S&P_500___	1,751.64	▼	-3.56	▼	-0.20%		
	30_Yr_Bond____	3.65	▲	0.06	▲	1.67%		

NYSE Volume	 3,959,435,500 	 	 	 	 	  		 
Nasdaq Volume	 2,084,589,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,457.89	▲	8.62	▲	0.13%		
	DAX_____	9,116.32	▼	-11.59	▼	-0.13%		
	CAC_40__	4,117.79	▲	0.34	▲	0.01%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,088.70	▼	-25.40	▼	-0.50%		
	Shanghai_Comp	2,033.08	▼	-16.83	▼	-0.82%		
	Taiwan_Weight	8,264.48	▼	-198.09	▼	-2.34%		
	Nikkei_225___	14,180.38	▲	171.91	▲	1.23%		
	Hang_Seng.__	21,269.38	▼	-128.39	▼	-0.60%		
	Strait_Times.__	2,962.94	▼	-2.86	▼	-0.10%		
	NZX_50_Index_	4,807.94	▲	5.32	▲	0.11%		

http://finance.yahoo.com/news/us-stocks-end-down-slightly-215445350.html
*
US stocks end down slightly, but cut losses

US stocks end slightly lower as uncertainty over US economy lingers*

By Alex Veiga, AP Business Writer

Wall Street took a step backward Wednesday. Then a tiny step forward. Then back.

The tentative dance amounted to little change for major U.S. stock indexes, which ended the day just below their prior day's levels.

For the week, stocks remained down, extending the sharp downturn for the year.

"We're seeing some buyers coming in on the weakness, but not enough to push the market higher," said Joe Bell, senior equity analyst with Schaeffer's Investment Research.

Stocks were down in premarket trading and continued to slide for much of the day. A survey on U.S. hiring did little to ease uncertainty over the health of the American economy.

Many investors remain leery, waiting to see if upcoming economic reports and company earnings will show that the U.S. economic recovery is on track.

"This is about as flat as it gets," said Rex Macey, chief investment officer of Wilmington Trust Investment Advisors. "It's a market looking for direction."

The Dow Jones industrial average fell 5.01 points, or 0.03 percent, to close at 15,440.23 Wednesday. The Standard & Poor's 500 index slipped 3.56 points, or 0.2 percent, to 1,751.64. The Nasdaq composite dropped 19.97 points, or 0.5 percent, to 4,011.55.

Six of the 10 sectors in the S&P 500 finished lower. Telecoms and energy stocks registered the biggest industry declines.

Investors hammered trucking company C.H. Robinson Worldwide, which a day earlier reported fourth-quarter results that missed Wall Street estimates. Its shares fell $5.48, or 9 percent, to $53.16, to lead the S&P 500's decliners.

Cerner, a health care information technology provider, and cosmetics maker Estee Lauder were also among the stocks posting large losses. Cerner shares fell $3.39, or nearly 6 percent, to $53.21. Estee Lauder slumped $3.83, or 5.5 percent, to $65.36.

Markets started the week with a 326-point drop in the Dow, triggered by disappointing news about the U.S. manufacturing.

The Dow, which fell as much as 104 points Wednesday, ended the day down 6.9 percent for this year. The S&P 500 closed down 5.2 percent so far in 2014.

A private survey on Wednesday showed that U.S. businesses added jobs at a steady but modest pace in January, a sign that hiring has rebounded after a disappointing figure in December. Payroll processor ADP said companies added 175,000 jobs last month. That's down from 227,000 in December, which was revised lower. But it was much better than the government's official figure of just 74,000 new jobs in December. The ADP numbers cover only private businesses and often diverge from the government's more comprehensive report due out Friday.

Investors are trying to get a clear picture of the U.S. economy and the prospect for corporate earnings growth this year, but they've had to sort through a bevy of mixed signals in recent weeks.

There's been encouraging news ”” the nation's economy grew at a 3.2 percent annual rate in the October-December quarter on the strength of the strongest consumer spending in three years. But concerns are growing that the U.S. and global economies may be weakening due to slowing growth in China and in other emerging markets.

Add to this harsh winter weather, which some analysts expect could have had a negative impact on the economy in December and January.

"There's a bit of uncertainty about all of that," Macey said.

And then there's earnings season, which Macey and other analysts sum up so far as good overall. Still, many companies have offered outlooks that fell short of Wall Street's expectations.

"It's part of what's unsettling the market," Macey said.

The Federal Reserve's decision to slow its stimulus program also places more importance on what the latest economic data show.

"More and more people are starting to focus on these economic reports," Bell said. "We do want improvement now that the stock market and the economy have to kind of stand on their own two feet."

Despite Wednesday's overall decline in the market, many stocks finished in the green.

Walgreen topped the S&P 500's gainers, rising $1.90, or 3.4 percent, to $57.85. Not far off was global technology company PACCAR, which added $1.84, or 3.3 percent, to $56.90. The TJX Cos. also was among the risers, climbing $1.76, or 3.1 percent, to $57.79.

Several financial services companies also eked out gains.

Genworth Financial rose 40 cents, or 2.8 percent, to $14.93 after reporting first-quarter earnings. The Hartford Financial Services Group gained 72 cents, or 2 percent, to $33.54.

The yield on the 10-year Treasury note edged up to 2.67 percent from 2.63 percent on Tuesday. The yield, which affects rates on mortgages and other consumer loans, has dropped from 3 percent at the start of the year as investors have bought bonds amid concern that U.S. growth is slowing.


----------



## bigdog

Source: http://finance.yahoo.com 

After a rocky start to the week, U.S. stocks roared back on Thursday, giving major stock indexes their biggest gain of the year.

The Dow Jones industrial average and the S&P 500 index each closed up 1.2 percent, their largest single-day increase since Dec. 18.

The rally helped the market rebound a day after a modest loss and continued a gradual comeback since a plunge of more than 2 percent on Monday.

"The market was very oversold going into the day's trading," said Jim Russell, senior equity strategist at U.S. Bank Wealth Management.

The Dow Jones industrial average jumped 188.30 points, or 1.2 percent, to close at 15,628.53. The Standard & Poor's 500 index rose 21.79 points, also 1.2 percent, to 1,773.43. Both indexes were still down about half a percent for the week following a steep drop on Monday.

The Nasdaq composite gained 45 points, or 1.1 percent, to 4,057.12.

Thursday's surge began overseas, where the European Central Bank decided not to cut interest rates. The move propelled major European stock indexes sharply higher.

Then the markets got a dose of good news on the U.S. job market. The Labor Department reported that fewer people applied for unemployment benefits last week.

That report, combined with a private survey on U.S. hiring released Wednesday, appeared to bolster investors' confidence that the government will issue a positive January jobs report on Friday.

"Those two numbers combined ... suggest that perhaps tomorrow's numbers might look a little stronger," Russell said.

All week, investors have been looking ahead to the employment survey and what it will augur for the economy.

Evidence of healthy U.S. job growth would suggest that the world's biggest economy is still expanding at a solid pace. That would comfort investors, many of whom became uneasy in recent weeks after signs of weaker global growth emerged.

Those concerns were seen by some other investors as a buying opportunity.

"The fear in the markets has subsided some," said Marc Doss, regional chief investment officer at Wells Fargo Private Bank.

Thursday's gains were broad. All 10 of the S&P 500's sectors rose. Three stocks rose for every one that fell.								

 *The NYSE DOW closed  	HIGHER ▲	188.3	points or ▲	1.22%	on	Thursday, 6 February 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	15,628.53	▲	188.30	▲	1.22%		
	Nasdaq____	4,057.12	▲	45.57	▲	1.14%		
	S&P_500___	1,773.43	▲	21.79	▲	1.24%		
	30_Yr_Bond____	3.67	▲	0.02	▲	0.60%		

NYSE Volume	 3,808,918,000 	 	 	 	 	  		 
Nasdaq Volume	 1,883,495,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,558.28	▲	100.39	▲	1.55%		
	DAX_____	9,256.58	▲	140.26	▲	1.54%		
	CAC_40__	4,188.10	▲	70.31	▲	1.71%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,147.40	▲	58.70	▲	1.15%		
	Shanghai_Comp	2,033.08	▼	-16.83	▼	-0.82%		
	Taiwan_Weight	8,311.01	▲	46.53	▲	0.56%		
	Nikkei_225___	14,155.12	▼	-25.26	▼	-0.18%		
	Hang_Seng.__	21,423.13	▲	153.75	▲	0.72%		
	Strait_Times.__	2,988.27	▲	28.18	▲	0.95%		
	NZX_50_Index_	4,807.94	▲	5.32	▲	0.11%		

http://finance.yahoo.com/news/us-stocks-end-higher-dow-220707829.html

*US stocks end higher; Dow has its best day of 2014

US stocks rebound on unemployment claims news, Disney earnings; Dow clocks best day of 2014*

By Alex Veiga, AP Business Writer

After a rocky start to the week, U.S. stocks roared back on Thursday, giving major stock indexes their biggest gain of the year.

The Dow Jones industrial average and the S&P 500 index each closed up 1.2 percent, their largest single-day increase since Dec. 18.

The rally helped the market rebound a day after a modest loss and continued a gradual comeback since a plunge of more than 2 percent on Monday.

"The market was very oversold going into the day's trading," said Jim Russell, senior equity strategist at U.S. Bank Wealth Management.

The Dow Jones industrial average jumped 188.30 points, or 1.2 percent, to close at 15,628.53. The Standard & Poor's 500 index rose 21.79 points, also 1.2 percent, to 1,773.43. Both indexes were still down about half a percent for the week following a steep drop on Monday.

The Nasdaq composite gained 45 points, or 1.1 percent, to 4,057.12.

Thursday's surge began overseas, where the European Central Bank decided not to cut interest rates. The move propelled major European stock indexes sharply higher.

Then the markets got a dose of good news on the U.S. job market. The Labor Department reported that fewer people applied for unemployment benefits last week.

That report, combined with a private survey on U.S. hiring released Wednesday, appeared to bolster investors' confidence that the government will issue a positive January jobs report on Friday.

"Those two numbers combined ... suggest that perhaps tomorrow's numbers might look a little stronger," Russell said.

All week, investors have been looking ahead to the employment survey and what it will augur for the economy.

Evidence of healthy U.S. job growth would suggest that the world's biggest economy is still expanding at a solid pace. That would comfort investors, many of whom became uneasy in recent weeks after signs of weaker global growth emerged.

Those concerns were seen by some other investors as a buying opportunity.

"The fear in the markets has subsided some," said Marc Doss, regional chief investment officer at Wells Fargo Private Bank.

Thursday's gains were broad. All 10 of the S&P 500's sectors rose. Three stocks rose for every one that fell.

Stock buyers got going early on, reacting to better-than-expected earnings late Wednesday from The Walt Disney Co. The media giant got a lift from its movie hit "Frozen" and sales of the "Disney Infinity" video game. The stock rose $3.80, or 5.3 percent, to $75.56.

Akamai Technologies led the gainers in the S&P 500 index after the online content delivery company allayed fears that it had lost Apple as a customer. Akamai soared $9.76, or 20.6 percent, to $57.18. Among the other big risers were construction industry supplier Vulcan Materials, which added $5.47, or 9.1 percent, to $65.66, and O'Reilly Automotive, which rose $12.16, or 9 percent, to $146.72.

Investors also cheered Dunkin' Brands Group, which reported that more people visited stores owned by the chain restaurant in the last quarter and spent more there once they got inside. The stock added $1.59, or 3.4 percent, to $48.89.

Other stocks didn't fare as well.

Twitter's first earnings report since becoming a public company stirred concerns that growth is slowing at the online messaging service. The stock lost $15.94, or 24.2 percent, to $50.03.

A couple of energy companies were among the biggest decliners in the S&P 500.

Chesapeake Energy skidded after the oil and gas company gave its outlook for production and spending in 2014. The company lost $1.80, or 6.9 percent, to $24.41. Petroleum refiner Tesoro shed $2.35, or 4.7 percent, to $47.60.

Health care supplier Perrigo also fell sharply, losing $6.79, or 4.4 percent, to $146.49.

Investors had moved money into bonds in recent weeks on concern that U.S. growth is slowing. That trend continued to do a gradual reversal on Thursday.

The yield on the 10-year Treasury note ticked up to 2.70 percent from 2.67 percent on Wednesday. The yield, which affects rates on mortgages and other consumer loans, had fallen to 2.58 percent on Monday, the lowest in more than two months.

All told, major indexes gained a little bit of the ground lost since Monday, when the Dow sank 326 points as disappointing news about U.S. manufacturing unnerved investors.

How Wall Street interprets Friday's employment report will determine whether the market will continue rebounding from Monday's losses.

In December, the economy added a disappointing 74,000 jobs. That was the fewest in three years and far below the average of 214,000 added in the previous four months.

The Labor Department said Thursday that the number of people applying for U.S. unemployment benefits declined 20,000 last week to 331,000. That suggests Americans are facing fewer layoffs and better job prospects.

"We do think that a little bit of a pause in the market was absolutely due and at hand as we finished 2013, so we think much of that has occurred," said Russell. "If tomorrow's numbers come in weak, you can blame the weather. If they come in a little stronger, of course that's what we want."


----------



## qldfrog

interesting 
Thursday, the US roared back  supposely on expected great job creation report pending; figures released are abysmal: lowest in 3 years if I am not wrong and the market still surges up on Friday
In summary
US market at its peak, company profit are below expectation, tampering is not going to stop, growth is stalled, never since the 70s have so few americans had a job  and what jobs....
And the market surges
I am short term bear and can not see any sence in the last 3 days...ASX obviously following  here


----------



## bigdog

Source: http://finance.yahoo.com 

As comebacks go, this one was a couple of days in the making.

On Friday, the U.S. stock market rebounded from a deep slump earlier in the week to muster the first positive five-day stretch after three weeks of declines.

The day's modest gains added to a strong finish for stocks a day earlier, enough for the Dow Jones industrial average to eke out a 0.6 percent gain for the week, while the S&P 500 index finished up 0.8 percent. Both are still down for the year.

The Dow Jones industrial average rose 165.55 points, or 1.1 percent, to 15,794.08. The Standard & Poor's 500 rose 23.59 points, or 1.3 percent, to 1,797.02. The Nasdaq composite increased 68.74 points, or 1.7 percent, to 4,125.86.

Expedia led the gains in the S&P 500 index, surging 14 percent after reporting that its profit and revenue jumped as hotel bookings increased.

Friday's rally didn't seem likely to happen as the day got going.

A widely anticipated jobs report from the Labor Department showed U.S. employers added 113,000 jobs last month, less than the average monthly gain of 194,000 in 2013. This followed December's tepid increase of just 75,000.

The overall payroll figure disappointed markets, and index futures fell before regular stock trading began. Stocks moved higher in mid-morning trading as investors dug deeper into the details of the report, which also showed that manufacturers, construction firms and mining and drilling companies added 76,000 jobs combined, a strong showing.

"The market had a tough time figuring out what to do with the (jobs) number when it first came out," said J.J. Kinahan, chief strategist with TD Ameritrade. "As the day went on, it just kind of discounted some of the negatives in there to say, 'What do we really want? We want a growing economy, and these are the jobs we got for a growing economy."

The government also reported that the nation's unemployment rate dipped to 6.6 percent in January from 6.7 percent in December. It was the lowest rate since October 2008.

The market dug itself a hole at the start of the week, plunging more than 2 percent on Monday. The slide began with investor anxiety over an industry survey that found that manufacturing grew much more slowly in January than in December. Lackluster U.S. auto sales for January added to the bad news.

The outlook began to brighten at midweek, with a survey of private businesses that showed companies added 175,000 jobs in January, roughly in line with average monthly gains the past two years. On Thursday, news that fewer people applied for unemployment benefits last week helped lift the market.

The Dow is still down 4.7 percent for the year, while the S&P 500 is down 2.8 percent.

Did the government's latest survey of the job market give investors reason to feel better about the economy? Hard to say.

Many analysts have been predicting that stocks were due for a decline after reaching record highs at the end of last year. On Monday, it seemed the market was headed firmly for just such a decline, which is known among investors as a "correction," or a drop of 10 percent or more from a recent peak.

Some market watchers, however, pointed to this week's rebound as a sign that stocks have become more stable.

"It appears we sort of found our sea legs here in the middle of the week and we're starting to rally back into a more normal valuation pattern," said Phil Orlando, chief equity strategist at Federated Investors.

Others saw the potential for more turbulence.

"This is sort of the new market we live in," Kinahan said. "There are going to be gyrations where we're higher, we're lower, some quick corrections, some quick rallies. This is going to set a tone for the first half of the year."

Investors will have no shortage of potentially market-moving news to watch out for in the coming weeks.

The bulk of the latest quarterly earnings cycle is over, but the markets will be watching how Washington grapples with another debt ceiling deadline, and how quickly the Federal Reserve moves to reduce its monthly bond purchases.								

 *The NYSE DOW closed  	HIGHER ▲	165.55	points or ▲	1.06%	on	Friday, 7 February 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	15,794.08	▲	165.55	▲	1.06%		
	Nasdaq____	4,125.86	▲	68.74	▲	1.69%		
	S&P_500___	1,797.02	▲	23.59	▲	1.33%		
	30_Yr_Bond____	3.67	▼	-0.01	▼	-0.27%		

NYSE Volume	 3,773,687,750 	 	 	 	 	  		 
Nasdaq Volume	 2,007,959,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,571.68	▲	13.40	▲	0.20%		
	DAX_____	9,301.92	▲	45.34	▲	0.49%		
	CAC_40__	4,228.18	▲	40.08	▲	0.96%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,184.50	▲	37.10	▲	0.72%		
	Shanghai_Comp	2,044.50	▲	11.41	▲	0.56%		
	Taiwan_Weight	8,387.35	▲	76.34	▲	0.92%		
	Nikkei_225___	14,462.41	▲	307.29	▲	2.17%		
	Hang_Seng.__	21,636.85	▲	213.72	▲	1.00%		
	Strait_Times.__	3,013.14	▲	24.87	▲	0.83%		
	NZX_50_Index_	4,840.79	▲	32.85	▲	0.68%		

http://finance.yahoo.com/news/stock...-221800377.html;_ylt=AwrSyCWMZfVS_y0AKPeTmYlQ

*Stocks rebound to post gain for the week

US stocks finish ahead for the week as investors see bright spots in a mixed employment survey*

By Alex Veiga, AP Business Writer

As comebacks go, this one was a couple of days in the making.

On Friday, the U.S. stock market rebounded from a deep slump earlier in the week to muster the first positive five-day stretch after three weeks of declines.

The day's modest gains added to a strong finish for stocks a day earlier, enough for the Dow Jones industrial average to eke out a 0.6 percent gain for the week, while the S&P 500 index finished up 0.8 percent. Both are still down for the year.

The Dow Jones industrial average rose 165.55 points, or 1.1 percent, to 15,794.08. The Standard & Poor's 500 rose 23.59 points, or 1.3 percent, to 1,797.02. The Nasdaq composite increased 68.74 points, or 1.7 percent, to 4,125.86.

Expedia led the gains in the S&P 500 index, surging 14 percent after reporting that its profit and revenue jumped as hotel bookings increased.

Friday's rally didn't seem likely to happen as the day got going.

A widely anticipated jobs report from the Labor Department showed U.S. employers added 113,000 jobs last month, less than the average monthly gain of 194,000 in 2013. This followed December's tepid increase of just 75,000.

The overall payroll figure disappointed markets, and index futures fell before regular stock trading began. Stocks moved higher in mid-morning trading as investors dug deeper into the details of the report, which also showed that manufacturers, construction firms and mining and drilling companies added 76,000 jobs combined, a strong showing.

"The market had a tough time figuring out what to do with the (jobs) number when it first came out," said J.J. Kinahan, chief strategist with TD Ameritrade. "As the day went on, it just kind of discounted some of the negatives in there to say, 'What do we really want? We want a growing economy, and these are the jobs we got for a growing economy."

The government also reported that the nation's unemployment rate dipped to 6.6 percent in January from 6.7 percent in December. It was the lowest rate since October 2008.

The market dug itself a hole at the start of the week, plunging more than 2 percent on Monday. The slide began with investor anxiety over an industry survey that found that manufacturing grew much more slowly in January than in December. Lackluster U.S. auto sales for January added to the bad news.

The outlook began to brighten at midweek, with a survey of private businesses that showed companies added 175,000 jobs in January, roughly in line with average monthly gains the past two years. On Thursday, news that fewer people applied for unemployment benefits last week helped lift the market.

The Dow is still down 4.7 percent for the year, while the S&P 500 is down 2.8 percent.

Did the government's latest survey of the job market give investors reason to feel better about the economy? Hard to say.

Many analysts have been predicting that stocks were due for a decline after reaching record highs at the end of last year. On Monday, it seemed the market was headed firmly for just such a decline, which is known among investors as a "correction," or a drop of 10 percent or more from a recent peak.

Some market watchers, however, pointed to this week's rebound as a sign that stocks have become more stable.

"It appears we sort of found our sea legs here in the middle of the week and we're starting to rally back into a more normal valuation pattern," said Phil Orlando, chief equity strategist at Federated Investors.

Others saw the potential for more turbulence.

"This is sort of the new market we live in," Kinahan said. "There are going to be gyrations where we're higher, we're lower, some quick corrections, some quick rallies. This is going to set a tone for the first half of the year."

Investors will have no shortage of potentially market-moving news to watch out for in the coming weeks.

The bulk of the latest quarterly earnings cycle is over, but the markets will be watching how Washington grapples with another debt ceiling deadline, and how quickly the Federal Reserve moves to reduce its monthly bond purchases.

On Friday, the market's gains were broad.

All 10 sectors in the S&P 500 index moved higher, led by industrial and health care stocks. Three stocks rose for every one that fell.

It was a good day for some travel stocks.

Expedia soared $9.31, or 14.3 percent, to $74.45, while TripAdvisor leapt $7.31, or 9.5 percent, to $84.45.

Among the stocks that ended with sizable gains Friday were publishing company News Corp., which rose $1.39, or 8.7 percent, to $17.41. The Gap also added $2.29, or 5.8 percent, to $42.

Some stocks missed the rally.

LinkedIn fell $13.86 or 6.2 percent, to $209.59 after the company said its performance may falter this year as it spends more on long-term projects and revenue growth slows.

Cigna led the declines in the S&P 500 after reporting earnings that fell short of analysts' expectations. The stock sank $7.90, or 9.3 percent, to $77.47. Also sliding was Flir Systems, which makes thermal imaging systems. It shed $1.48, or 4.6 percent, to $30.71.

The yield on the 10-year Treasury note edged down to 2.69 percent from 2.70 percent as investors moved money into bonds. It slid as low as 2.63 percent shortly after the jobs report came out at 8:30 a.m. Eastern time.

The yield, which affects rates on mortgages and other consumer loans, had been edging higher after falling to 2.58 percent on Monday, the lowest level in more than two months.

3051


----------



## bigdog

Source: http://finance.yahoo.com 

The stock market ended up more or less where it began Monday in a quiet day for investors who had little economic data or company earnings to react to.

Analysts said the market is likely to remain in a holding pattern until traders hear from Janet Yellen in her first testimony before Congress since becoming head of the Federal Reserve.

After spending most of the day lower, the Dow Jones Industrial average turned slightly higher in late trading and closed up 7.71 points, or 0.1 percent, at 15,801.79.

The Standard & Poor's 500 index rose 2.82 points, or 0.2 percent, to 1,799.84 and the Nasdaq composite rose 22.31 points, or 0.5 percent, to 4,148.17.

The tech-heavy Nasdaq was pushed higher by Apple, which rose $9.31, or 2 percent, to $528.99. Apple rose after the activist investor Carl Icahn said he has dropped his shareholder proposal to force Apple to increase its stock buybacks. Apple recently disclosed it had bought $14 billion of its own stock.

Yellen, who started her term as head of the central bank this month, is scheduled to testify before Congress on Tuesday and Wednesday. Yellen's comments will be closely watched, especially after recent disappointing economic news and the Fed's decision to further reduce on its monthly bond purchases.

Despite recent volatility in the market, investors believe that Yellen will likely continue her predecessor's plan to continue winding down the Fed's economic stimulus program. Last week, the Fed cut its bond purchases to $65 billion a month.

"We should expect more volatility as the Fed transitions away from its (economic stimulus plan)," said Doug Cote, chief investment strategist at ING Investment Management.

Investors got a respite from a recent deluge of earnings and economic reports. Wall Street remains in the middle of earnings season, when the bulk of the nation's publicly traded companies report their quarterly results. Only two out of the 55 companies announcing this week reported their results Monday: the toy maker Hasbro and the industrial conglomerate Loews Corp.

Hasbro rose $2.27, or 5 percent, to $52.36. Hasbro's said its fourth-quarter profits fell from a year ago, due to a slow holiday season, but it also boosted its dividend and issued a bright outlook for 2014.

Loews, which owns a variety of businesses including insurance, oil drilling and hotels and resorts, fell $1.92, or 4 percent, to $43.26. The company reported a loss of 51 cents a share, due to some one-time charges tied to its ownership of insurance company CNA Financial.

So far this quarter, 344 members of the S&P 500 index have reported their results. While the earnings results have been solid ”” up 8.1 percent from a year ago, according to FactSet ”” many companies have been lowering their forecasts for 2014. Fifty-seven companies have cut their forecasts for 2014, while only 14 have raised them, according to Factset.

"The guidance for the upcoming quarters has not been good at all," said Sam Stovall, chief equity strategist with S&P Capital IQ.							

 *The NYSE DOW closed  	HIGHER ▲	7.71	points or ▲	0.05%	on	Monday, 10 February 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	15,801.79	▲	7.71	▲	0.05%		
	Nasdaq____	4,148.17	▲	22.31	▲	0.54%		
	S&P_500___	1,799.84	▲	2.82	▲	0.16%		
	30_Yr_Bond____	3.66	▲	0.00	▼	-0.05%		

NYSE Volume	 3,292,073,000 	 	 	 	 	  		 
Nasdaq Volume	 1,787,827,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,591.55	▲	19.87	▲	0.30%		
	DAX_____	9,289.86	▼	-12.06	▼	-0.13%		
	CAC_40__	4,237.13	▲	8.95	▲	0.21%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,236.50	▲	52.00	▲	1.00%		
	Shanghai_Comp	2,086.07	▲	41.57	▲	2.03%		
	Taiwan_Weight	8,391.95	▲	4.60	▲	0.05%		
	Nikkei_225___	14,718.34	▲	255.93	▲	1.77%		
	Hang_Seng.__	21,579.26	▼	-57.59	▼	-0.27%		
	Strait_Times.__	3,017.20	▲	4.06	▲	0.13%		
	NZX_50_Index_	4,833.06	▼	-7.73	▼	-0.16%		

http://finance.yahoo.com/news/us-stocks-end-slightly-higher-214201906.html

*US stocks end slightly higher in quiet trading

US stocks drift higher in quiet trading following a rally late last week; Apple rises*

By Ken Sweet, AP Markets Writer

The stock market ended up more or less where it began Monday in a quiet day for investors who had little economic data or company earnings to react to.

Analysts said the market is likely to remain in a holding pattern until traders hear from Janet Yellen in her first testimony before Congress since becoming head of the Federal Reserve.

After spending most of the day lower, the Dow Jones Industrial average turned slightly higher in late trading and closed up 7.71 points, or 0.1 percent, at 15,801.79.

The Standard & Poor's 500 index rose 2.82 points, or 0.2 percent, to 1,799.84 and the Nasdaq composite rose 22.31 points, or 0.5 percent, to 4,148.17.

The tech-heavy Nasdaq was pushed higher by Apple, which rose $9.31, or 2 percent, to $528.99. Apple rose after the activist investor Carl Icahn said he has dropped his shareholder proposal to force Apple to increase its stock buybacks. Apple recently disclosed it had bought $14 billion of its own stock.

Yellen, who started her term as head of the central bank this month, is scheduled to testify before Congress on Tuesday and Wednesday. Yellen's comments will be closely watched, especially after recent disappointing economic news and the Fed's decision to further reduce on its monthly bond purchases.

Despite recent volatility in the market, investors believe that Yellen will likely continue her predecessor's plan to continue winding down the Fed's economic stimulus program. Last week, the Fed cut its bond purchases to $65 billion a month.

"We should expect more volatility as the Fed transitions away from its (economic stimulus plan)," said Doug Cote, chief investment strategist at ING Investment Management.

Investors got a respite from a recent deluge of earnings and economic reports. Wall Street remains in the middle of earnings season, when the bulk of the nation's publicly traded companies report their quarterly results. Only two out of the 55 companies announcing this week reported their results Monday: the toy maker Hasbro and the industrial conglomerate Loews Corp.

Hasbro rose $2.27, or 5 percent, to $52.36. Hasbro's said its fourth-quarter profits fell from a year ago, due to a slow holiday season, but it also boosted its dividend and issued a bright outlook for 2014.

Loews, which owns a variety of businesses including insurance, oil drilling and hotels and resorts, fell $1.92, or 4 percent, to $43.26. The company reported a loss of 51 cents a share, due to some one-time charges tied to its ownership of insurance company CNA Financial.

So far this quarter, 344 members of the S&P 500 index have reported their results. While the earnings results have been solid ”” up 8.1 percent from a year ago, according to FactSet ”” many companies have been lowering their forecasts for 2014. Fifty-seven companies have cut their forecasts for 2014, while only 14 have raised them, according to Factset.

"The guidance for the upcoming quarters has not been good at all," said Sam Stovall, chief equity strategist with S&P Capital IQ.

Stocks are also coming off of a strong finish last week.

The Dow rose 188 points on Thursday and 166 points on Friday. The market rallied Friday despite a government report that U.S. employers added just 113,000 jobs in January, fewer than economists were anticipating.

The Dow, S&P 500 and Nasdaq are all still negative for 2014, although the Nasdaq is down less than 1 percent. The Dow is down almost 5 percent this year, the S&P 500 almost 3 percent.

Trading volume was lighter than normal due to the lack of economic data and company news. Roughly 3.3 billion shares were traded on the New York Stock Exchange, slightly below the recent average of 3.4 billion shares.


----------



## bigdog

Source: http://finance.yahoo.com 

Reassuring words from the new head of the Federal Reserve sent stocks soaring on Tuesday and gave the market its longest winning streak this year.

The Dow Jones industrial average jumped nearly 200 points after Fed Chair Janet Yellen said she would continue the central bank's market-friendly, low-interest rate policies.

Investors also welcomed news that Congress appeared poised to raise the U.S. borrowing limit without the political drama that happened late last year. That would avert the threat of a disastrous default on the U.S. government's debt.

"Many of the risks everyone had their eyes on for 2014 are quickly being cleared away," said Kristina Hooper, head of U.S. investment strategies for Allianz Global Investors.

On Tuesday, the Dow Jones industrial average rose 192.98 points, or 1.2 percent, to 15,994.77. It was the Dow's third triple-digit advance in four days.

The Standard & Poor's 500 index rose 19.91 points, or 1.1 percent, to 1,819.75 and the Nasdaq composite rose 42.87 points, or 1 percent, to 4,191.04. The Nasdaq is now in positive territory for 2014, while the S&P 500 and Dow are down 1.5 percent and 3.5 percent the year, respectively.

Investors had two points of worry resolved this week, analysts said.

Yellen, in her first public comments since taking over for Ben Bernanke at the Federal Reserve last week, told Congress that she expects a "great deal of continuity" with her predecessor.

Yellen said she supports Bernanke's view that the economy is strengthening enough to withstand a pullback in the Fed's stimulus, but that interest rates should stay low to encourage more growth. Last week, the Fed announced it would reduce its bond purchases by $10 billion to $65 billion a month.

"She's being well received (by investors)," said Rob Stein, CEO of Astor Investment Management in Chicago.

Politicians also appear to have reached an agreement over raising the nation's borrowing limit, sometimes called the "debt ceiling."

House Speaker John Boehner said Tuesday that he would allow a vote to raise the borrowing limit without any conditions attached. The announcement came a few days after Treasury Secretary Jack Lew said the federal government would exhaust its ability to borrow money by Feb. 27. Lew urged Congress to pass a bill to raise the limit as soon as possible.

The approaching deadline had been a lingering source of worry for investors, who still bear scars from the last two debt debates.

The political tussle over raising the borrowing limit in August 2011 eventually led Standard & Poor's to downgrade the United States' credit rating, which in turn caused the stock market to go through three months of nauseating swings. During the October 2013 debate, the United States came within days of running out of cash, causing investors to flee some parts of the U.S. Treasury market out of fear that the federal government could not pay its debts.

"Investors were preparing for the debt ceiling negotiations to become a disaster," said Brian Reynolds, market strategist with Rosenblatt Securities.

The surge in the last four days has helped the market avoid its first "correction" since 2011. That's when an index falls 10 percent or more from a recent peak.

The S&P 500's recent decline brought the index down as much as 5.8 percent from its peak of 1,848 reached on Jan. 15.						

 *The NYSE DOW closed  	HIGHER ▲	192.98	points or ▲	1.22%	on	Tuesday, 11 February 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	15,994.77	▲	192.98	▲	1.22%		
	Nasdaq____	4,191.04	▲	42.87	▲	1.03%		
	S&P_500___	1,819.75	▲	19.91	▲	1.11%		
	30_Yr_Bond____	3.68	▲	0.02	▲	0.60%		

NYSE Volume	 3,667,912,500 	 	 	 	 	  		 
Nasdaq Volume	 1,960,525,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,672.66	▲	81.11	▲	1.23%		
	DAX_____	9,478.77	▲	188.91	▲	2.03%		
	CAC_40__	4,283.32	▲	46.19	▲	1.09%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,267.30	▲	30.80	▲	0.59%		
	Shanghai_Comp	2,103.67	▲	17.60	▲	0.84%		
	Taiwan_Weight	8,430.56	▲	38.61	▲	0.46%		
	Nikkei_225___	14,718.34	▲	255.93	▲	1.77%		
	Hang_Seng.__	21,962.98	▲	383.72	▲	1.78%		
	Strait_Times.__	3,029.10	▲	11.90	▲	0.39%		
	NZX_50_Index_	4,848.88	▲	15.82	▲	0.33%		

http://finance.yahoo.com/news/us-stocks-surge-fed-chief-221236847.html

*US stocks surge after Fed chief reassures

Dow jumps after new Federal Reserve chief signals that she'll continue Bernanke's policies*

By Ken Sweet, AP Markets Writer

Reassuring words from the new head of the Federal Reserve sent stocks soaring on Tuesday and gave the market its longest winning streak this year.

The Dow Jones industrial average jumped nearly 200 points after Fed Chair Janet Yellen said she would continue the central bank's market-friendly, low-interest rate policies.

Investors also welcomed news that Congress appeared poised to raise the U.S. borrowing limit without the political drama that happened late last year. That would avert the threat of a disastrous default on the U.S. government's debt.

"Many of the risks everyone had their eyes on for 2014 are quickly being cleared away," said Kristina Hooper, head of U.S. investment strategies for Allianz Global Investors.

On Tuesday, the Dow Jones industrial average rose 192.98 points, or 1.2 percent, to 15,994.77. It was the Dow's third triple-digit advance in four days.

The Standard & Poor's 500 index rose 19.91 points, or 1.1 percent, to 1,819.75 and the Nasdaq composite rose 42.87 points, or 1 percent, to 4,191.04. The Nasdaq is now in positive territory for 2014, while the S&P 500 and Dow are down 1.5 percent and 3.5 percent the year, respectively.

Investors had two points of worry resolved this week, analysts said.

Yellen, in her first public comments since taking over for Ben Bernanke at the Federal Reserve last week, told Congress that she expects a "great deal of continuity" with her predecessor.

Yellen said she supports Bernanke's view that the economy is strengthening enough to withstand a pullback in the Fed's stimulus, but that interest rates should stay low to encourage more growth. Last week, the Fed announced it would reduce its bond purchases by $10 billion to $65 billion a month.

"She's being well received (by investors)," said Rob Stein, CEO of Astor Investment Management in Chicago.

Politicians also appear to have reached an agreement over raising the nation's borrowing limit, sometimes called the "debt ceiling."

House Speaker John Boehner said Tuesday that he would allow a vote to raise the borrowing limit without any conditions attached. The announcement came a few days after Treasury Secretary Jack Lew said the federal government would exhaust its ability to borrow money by Feb. 27. Lew urged Congress to pass a bill to raise the limit as soon as possible.

The approaching deadline had been a lingering source of worry for investors, who still bear scars from the last two debt debates.

The political tussle over raising the borrowing limit in August 2011 eventually led Standard & Poor's to downgrade the United States' credit rating, which in turn caused the stock market to go through three months of nauseating swings. During the October 2013 debate, the United States came within days of running out of cash, causing investors to flee some parts of the U.S. Treasury market out of fear that the federal government could not pay its debts.

"Investors were preparing for the debt ceiling negotiations to become a disaster," said Brian Reynolds, market strategist with Rosenblatt Securities.

The surge in the last four days has helped the market avoid its first "correction" since 2011. That's when an index falls 10 percent or more from a recent peak.

The S&P 500's recent decline brought the index down as much as 5.8 percent from its peak of 1,848 reached on Jan. 15.

With the recent surge and signs of volatility fading, the market's "mini" correction may have been just enough for investors. The CBOE Volatility Index, known better as the "VIX" and an often-quoted sign of fear among investors, dropped by 5 percent Tuesday. The VIX is at its lowest level in three weeks.

"So many people expected a significant correction that it seemed like it was almost pre-destined to happen," Allianz's Hooper said. "Even though it was a 'mini-correction,' investors were able to check the box and now there's a greater comfort to move back into stocks."


----------



## bigdog

Source: http://finance.yahoo.com 

Weak earnings from tobacco company Lorillard and household products maker Procter & Gamble helped end the stock market's longest winning streak of the year Wednesday.

Lorillard dropped after the maker of Newport cigarettes said its profit fell as higher costs offset an increase in revenue from both traditional and electronic cigarettes. Procter & Gamble fell after the company lowered its sales and earnings forecasts.

The losses were relatively small. Before Wednesday's drop, stocks had gained for the previous four days, mitigating some of the market's weakness in January caused by signs of slowing growth in China and doubts about how strong the U.S. economy was.

"At this point, boring is good," said Kate Warne, an investment strategist at Edward Jones, an investment adviser. "People are a bit tired of the ups and downs we've seen and a relatively flat day would be a sign of confidence," Warne said.

The Standard & Poor's 500 index fell half a point, less than 0.1 percent, to close at 1,819.26. The Dow Jones industrial average fell 30.83 points, or 0.2 percent, to 15,963.94. The Nasdaq composite rose 10.24 points, or 0.2 percent, to 4,201.29.

Makers of consumer staples, a category that includes everyday products like soap, diapers and cigarettes, fell the most of the 10 sectors in the S&P 500.

Lorillard had the biggest drop in the index. The stock lost $2.48, or 5 percent, to $47.47 after its earnings disappointed investors.

Procter & Gamble, the world's largest household products maker, fell $1.35, or 1.7 percent, to $77.49 after the company said it would take a hit because of declines in emerging market currencies against the dollar. Currencies in developing countries such as Turkey, South Africa and Argentina have slumped against the dollar this year.

Concerns about the outlook for emerging markets shook the stock market in January. Those losses continued as investors started to worry about the U.S. economy after some lackluster economics reports.

Stocks have rebounded in the past week. They jumped on Tuesday after Janet Yellen, the new head of the Federal Reserve, said she would continue the central bank's market-friendly, low-interest rate policies.

The S&P 500 was down almost 6 percent for the year as of Feb. 3, but has since pared that loss to 1.5 percent thanks to gains in health care and technology stocks. Both sectors have jumped 4.5 percent in the past week.

For the market to advance from here, investors will want to see further evidence that the economy is improving said, Cameron Hinds, a regional chief investment officer for Wells Fargo Private Bank. While the economic reports have been weak, many economists believe that the unusually cold winter has been a factor.

"People are going to start looking for strength in the economy to get the market going," said Hinds.

 *The NYSE DOW closed  	LOWER ▼	-30.83	points or ▼	-0.19%	on	Wednesday, 12 February 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	15,963.94	▼	-30.83	▼	-0.19%		
	Nasdaq____	4,201.29	▲	10.24	▲	0.24%		
	S&P_500___	1,819.26	▼	-0.49	▼	-0.03%		
	30_Yr_Bond____	3.72	▲	0.04	▲	1.03%		

NYSE Volume	 3,313,824,250 	 	 	 	 	  		 
Nasdaq Volume	 2,009,958,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,675.03	▲	2.37	▲	0.04%		
	DAX_____	9,540.00	▲	61.23	▲	0.65%		
	CAC_40__	4,305.50	▲	22.18	▲	0.52%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,319.80	▲	52.50	▲	1.00%		
	Shanghai_Comp	2,109.96	▲	6.28	▲	0.30%		
	Taiwan_Weight	8,510.87	▲	80.31	▲	0.95%		
	Nikkei_225___	14,800.06	▲	81.72	▲	0.56%		
	Hang_Seng.__	22,285.79	▲	322.81	▲	1.47%		
	Strait_Times.__	3,035.45	▲	6.35	▲	0.21%		
	NZX_50_Index_	4,869.97	▲	21.09	▲	0.43%		

http://finance.yahoo.com/news/us-stocks-decline-first-time-220524352.html

*US stocks decline for the first time in five days

Stocks edge lower, ending their longest rally of the year; Lorillard and P&G fall on earnings*

By Steve Rothwell, AP Markets Writer

Weak earnings from tobacco company Lorillard and household products maker Procter & Gamble helped end the stock market's longest winning streak of the year Wednesday.

Lorillard dropped after the maker of Newport cigarettes said its profit fell as higher costs offset an increase in revenue from both traditional and electronic cigarettes. Procter & Gamble fell after the company lowered its sales and earnings forecasts.

The losses were relatively small. Before Wednesday's drop, stocks had gained for the previous four days, mitigating some of the market's weakness in January caused by signs of slowing growth in China and doubts about how strong the U.S. economy was.

"At this point, boring is good," said Kate Warne, an investment strategist at Edward Jones, an investment adviser. "People are a bit tired of the ups and downs we've seen and a relatively flat day would be a sign of confidence," Warne said.

The Standard & Poor's 500 index fell half a point, less than 0.1 percent, to close at 1,819.26. The Dow Jones industrial average fell 30.83 points, or 0.2 percent, to 15,963.94. The Nasdaq composite rose 10.24 points, or 0.2 percent, to 4,201.29.

Makers of consumer staples, a category that includes everyday products like soap, diapers and cigarettes, fell the most of the 10 sectors in the S&P 500.

Lorillard had the biggest drop in the index. The stock lost $2.48, or 5 percent, to $47.47 after its earnings disappointed investors.

Procter & Gamble, the world's largest household products maker, fell $1.35, or 1.7 percent, to $77.49 after the company said it would take a hit because of declines in emerging market currencies against the dollar. Currencies in developing countries such as Turkey, South Africa and Argentina have slumped against the dollar this year.

Concerns about the outlook for emerging markets shook the stock market in January. Those losses continued as investors started to worry about the U.S. economy after some lackluster economics reports.

Stocks have rebounded in the past week. They jumped on Tuesday after Janet Yellen, the new head of the Federal Reserve, said she would continue the central bank's market-friendly, low-interest rate policies.

The S&P 500 was down almost 6 percent for the year as of Feb. 3, but has since pared that loss to 1.5 percent thanks to gains in health care and technology stocks. Both sectors have jumped 4.5 percent in the past week.

For the market to advance from here, investors will want to see further evidence that the economy is improving said, Cameron Hinds, a regional chief investment officer for Wells Fargo Private Bank. While the economic reports have been weak, many economists believe that the unusually cold winter has been a factor.

"People are going to start looking for strength in the economy to get the market going," said Hinds.

TripAdvisor was among the day's winners. The online travel company gained $6.07, or 7.2 percent, to $90.27 after posting fourth-quarter results that led an RBC Capital Markets analyst to upgrade his rating on the stock. TripAdvisor said late Tuesday that its fourth-quarter revenue jumped and was stronger than analysts expected. Most of its revenue came from click-based advertising.

In government bond trading, the yield on the 10-year Treasury note climbed to 2.76 percent from 2.73 percent on Tuesday.

In commodities trading, oil rose 43 cents, or 0.4 percent, to $100.37 a barrel. The price of gold rose $5.20, or 0.4 percent, to $1,295 an ounce.

Among other stocks making big moves:

”” Amazon.com fell $12.54, or 3.5 percent, to $349.25 after analysts at UBS lowered their rating on the stock from "buy" to "neutral" on concern about revenue from the internet retailer's "Prime" customers. Amazon was among the biggest decliners in the S&P 500.

”” DaVita HealthCare Partners jumped $2.02, or 3.1 percent, to $66.35, a day after the kidney dialysis provider said it reached an agreement to resolve a government investigation and reported fourth-quarter income that soared 36 percent and topped analyst expectations.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	63.65	points or ▲	0.40%	on	Thursday, 13 February 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,027.59	▲	63.65	▲	0.40%		
	Nasdaq____	4,240.67	▲	39.38	▲	0.94%		
	S&P_500___	1,829.83	▲	10.57	▲	0.58%		
	30_Yr_Bond____	3.69	▼	-0.04	▼	-0.99%		

NYSE Volume	 3,252,217,750 	 	 	 	 	  		 
Nasdaq Volume	 2,234,558,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,659.42	▼	-15.61	▼	-0.23%		
	DAX_____	9,596.77	▲	56.77	▲	0.60%		
	CAC_40__	4,312.80	▲	7.30	▲	0.17%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,318.70	▼	-1.10	▼	-0.02%		
	Shanghai_Comp	2,098.40	▼	-11.55	▼	-0.55%		
	Taiwan_Weight	8,467.70	▼	-43.17	▼	-0.51%		
	Nikkei_225___	14,534.74	▼	-265.32	▼	-1.79%		
	Hang_Seng.__	22,165.53	▼	-120.26	▼	-0.54%		
	Strait_Times.__	3,039.90	▲	4.45	▲	0.15%		
	NZX_50_Index_	4,873.53	▲	3.56	▲	0.07%		

http://finance.yahoo.com/news/stocks-rise-investors-assess-earnings-201435163.html

*Stocks rise as investors assess earnings

Stocks rise as earnings gains offset weak economic data; Time Warner Cable up on deal news*

By Steve Rothwell, AP Markets Writer

The stock market rose for the fifth time in six days Thursday as higher earnings from several big U.S. companies helped investors shrug off discouraging news about jobs and retail spending.

Goodyear Tire & Rubber surged to its highest level in almost six years after the company's earnings beat analysts' forecasts. CBS also jumped after the broadcaster beat Wall Street's profit expectations and speed up its stock buyback program.

Investors' focus has returned to company earnings after concerns about growth in emerging markets and the health of the U.S. economy pushed the Standard & Poor's 500 index to its lowest level in more than three months at the start of February. Analysts at S&P Capital IQ expect that earnings at companies in the index increased last quarter at the fastest pace in a year.

"The momentum from earnings continues," said Andres Garcia-Amaya, a global market strategist at JPMorgan Funds.

The Standard & Poor's 500 index rose 10.47 points, or 0.6 percent, to 1,829.83. The Dow Jones industrial average climbed 63.65 points, or 0.4 percent, to 16,027.59. The Nasdaq composite rose 39.38 points, or 0.9 percent, to 4,240.67.

Stocks also got a lift from deal news.

Time Warner Cable surged $9.50, or 7 percent, to $144.81 after the company agreed to be acquired by rival Comcast for $45.2 billion in stock. The deal would combine the top two cable TV companies in the United States. Comcast fell $2.27, or 4.1 percent, to $52.97.

The biggest gains in the S&P 500 were posted by utility companies. Gains in these stocks suggest investors are looking to play it safe. Utilities don't have the best growth prospects, but they pay steady dividends and operate in stable industries.

Stocks opened lower Thursday following lackluster reports on the U.S. job market and retail sales.

The number of people seeking unemployment benefits rose 8,000 last week to 339,000, the Labor Department said. Economist had forecast claims of just 330,000.

A separate report showed that cold weather caused U.S. retail sales to drop in January as Americans spent less on autos and clothing and at restaurants during a brutally cold month. The Commerce Department says retail sales fell 0.4 percent last month, the second straight decline after a 0.1 percent drop in December.

The stock market inched higher throughout the morning. Major indexes turned positive by late morning as investors assessed a handful of encourage corporate earnings reports.

Goodyear Tire & Rubber surged $2.77, or 11.5 percent, to $26.94 after it reported a big earnings gain. Strong sales in the company's core North American market helped the tire maker's results.

CBS rose $2.76, or 4.5 percent, to $64.61 after reporting fourth-quarter earnings and revenue growth that beat Wall Street's expectations. Advertising revenue was flat, but there was growth in content licensing thanks to the sale of shows such as "Hawaii Five-O" for domestic reruns.

Despite the recent signs of stabilization, the stock market is still going through a pullback driven largely by the Federal Reserve's decision to cut back on its economic stimulus program, said Barry Knapp, the head of U.S. equity portfolio strategy at Barclays.

The stimulus underpinned the stock market's rally last year, but policy makers have reduced it at each of their last two meetings. The Fed has scaled back its bond purchases from $85 billion a month to $65 billion a month.

Typically, pullbacks that are prompted by a change in Fed policy last between two and three month and push stocks lower by as much as 9 percent, according to Knapp.

"It seems a little too soon for (stocks) to have worked their way through this yet," said Knapp. "We don't think the uptrend is going to resume right away, stocks will probably still struggle a bit in the first half of the year."

In government bond trading, the yield on the 10-year note fell to 2.73 percent from 2.76 percent on Wednesday. The price of oil was little changed at $100.35 a barrel. Gold gained $5.10, or 0.5 percent, to $1,300.10 an ounce.

Among other stocks making big moves:

”” Whole Foods dropped $4, or 7.2 percent, to $51.46 after the grocery chain reported fiscal first-quarter profit and revenue that came in below analysts' forecasts. The company, known for its organic and natural food offerings, also lowered its earnings projections for the year again as the company faces more and more competition.

”” Cisco Systems fell 58 cents, or 2.5 percent, to $22.27, after the company reported late Wednesday that weaker revenue and special charges weighed down its second-quarter earnings.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	126.8	points or ▲	0.79%	on	Friday, 14 February 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,154.39	▲	126.80	▲	0.79%		
	Nasdaq____	4,244.03	▲	3.35	▲	0.08%		
	S&P_500___	1,838.63	▲	8.80	▲	0.48%		
	30_Yr_Bond____	3.70	▲	0.01	▲	0.38%		

NYSE Volume	 3,088,587,000 	 	 	 	 	  		 
Nasdaq Volume	 1,851,974,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,663.62	▲	4.20	▲	0.06%		
	DAX_____	9,662.40	▲	65.63	▲	0.68%		
	CAC_40__	4,340.14	▲	27.34	▲	0.63%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,366.90	▲	48.20	▲	0.91%		
	Shanghai_Comp	2,115.85	▲	17.45	▲	0.83%		
	Taiwan_Weight	8,513.68	▲	45.98	▲	0.54%		
	Nikkei_225___	14,313.03	▼	-221.71	▼	-1.53%		
	Hang_Seng.__	22,298.41	▲	132.88	▲	0.60%		
	Strait_Times.__	3,038.71	▼	-1.19	▼	-0.04%		
	NZX_50_Index_	4,888.40	▲	14.87	▲	0.31%		

http://finance.yahoo.com/news/p-500-index-logs-best-220617926.html

*S&P 500 index logs its best week of the year

S&P 500 logs its best week of the year as investors focus on earnings; Campbell Soup climbs*
By Steve Rothwell, AP Markets Writer

*U.S. financial markets will be closed Monday for Presidents' Day.*

The stock market closed out its best week of the year on Friday as investors focused on company earnings and brushed off another weak economic report.

Campbell Soup climbed after reporting earnings that beat the estimates of Wall Street analysts. Cliffs Natural Resources, a mining company, also jumped after its earnings beat analysts' expectations and the company named a new Chief Executive Officer.

The Standard & Poor's 500 has wiped out almost all of its loss for the year after a big slump in January, and is now just 10 points below its record close of 1,848 reached Jan. 15. Stocks slumped last month because of concerns about the outlook for growth in China and other emerging markets and worries about the health of the U.S. economy.

"For all practical purposes, we're back," said Jonathan Golub, Chief U.S. Market Strategist at RBC Capital Markets. "We've effectively recovered this pullback."

The S&P 500 rose 8.80 points, or 0.5 percent, to 1,838.63. For the week, the index rose 2.3 percent.

The Dow Jones industrial average rose 126.80 points, or 0.8 percent, to 16,154.39. The Nasdaq composite rose 3.35 points, or 0.1 percent, to 4,244.03, its highest close since July 2000.

The stock market got a lift on Tuesday when Janet Yellen, the new head of the Federal Reserve, said she would continue the central bank's low-interest rate policies and as Congress moved toward raising the U.S. borrowing limit without the political drama of last year.

The stock market started lower Friday following news that U.S. factory output fell sharply in January. Manufacturers made fewer cars and trucks, appliances, furniture and carpeting, as the recent cold spell ended five straight months of increased production.

The Federal Reserve said factory production plunged 0.8 percent in January, following gains of 0.3 percent in both December and November.

Investors are hopeful that much of the weakness seen in recent economic reports is due in large part to the unusually cold winter weather this year, said Kristina Hooper, US investment strategist at Allianz Global Investors.

"Investors are choosing to look at very mixed data through a positive lens," Hooper said.

By late morning, stocks had edged higher. They kept on rising throughout the day.

Among the big gainers, Campbell Soup rose $2.04, or 5 percent, to $43.01 after the company reported that its second-quarter profit and revenue came in above Wall Street's expectations. Campbell Soup also stood by its 2014 forecasts for sales and earnings growth. Cliffs Natural Resources climbed $1.26, or 5.8 percent, to $23.16 after its own earnings beat analysts' forecasts.

About 80 percent of the companies in the S&P 500 have now reported earnings for the fourth quarter, according to S&P Capital IQ. Earnings are forecast to rise 7.8 percent compared with the same period a year ago and 5.6 percent in the third quarter of 2013.

Among the day's losers were clothing retailer Men's Wearhouse and Weight Watchers International.

Men's Wearhouse dropped $2.46, or 5.3 percent, to $44.07, after Jos. A. Bank Clothiers, which Men's Wearhouse had been pursuing, announced a deal of its own. Jos. A. Bank said that it was buying the parent company of Eddie Bauer.

Weight Watchers plunged $8.48, or 27.7 percent, to $22.10 after reporting a big drop in earnings that was worse than analysts' had been forecasting. The company also issued a weak earnings forecast, saying 2014 would be a "very challenging year."

In government bond trading, the yield on the 10-year Treasury note rose to 2.75 percent from 2.73 percent Thursday.

Among other stocks making big moves, J.M. Smucker, the maker of fruit spreads, peanut butter and syrups, dropped $3.33, or 3.5 percent, to $91.81 after it reported earnings that fell short of analysts' expectations and lowered its guidance for the year, citing more competitive pricing and unfavorable currency movements.

U.S. financial markets will be closed Monday for Presidents' Day.

3655


----------



## bigdog

Source: http://finance.yahoo.com 

*U.S. financial markets  closed Monday for Presidents' Day.*

 *The NYSE DOW closed  	HIGHER ▲	126.8	points or ▲	0.79%	on	Friday, 14 February 2014 **
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,154.39	▲	126.80	▲	0.79%	holiday	
	Nasdaq____	4,244.03	▲	3.35	▲	0.08%	holiday	
	S&P_500___	1,838.63	▲	8.80	▲	0.48%	holiday	
	30_Yr_Bond____	3.70	▲	0.01	▲	0.38%	holiday	

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,736.00	▲	76.58	▲	1.15%		
	DAX_____	9,656.76	▼	-5.64	▼	-0.06%		
	CAC_40__	4,335.17	▼	-4.97	▼	-0.11%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,394.80	▲	27.90	▲	0.52%		
	Shanghai_Comp	2,135.41	▲	19.57	▲	0.92%		
	Taiwan_Weight	8,519.55	▲	5.87	▲	0.07%		
	Nikkei_225___	14,393.11	▲	80.08	▲	0.56%		
	Hang_Seng.__	22,535.94	▲	237.53	▲	1.07%		
	Strait_Times.__	3,069.28	▲	30.57	▲	1.01%		
	NZX_50_Index_	4,894.99	▲	6.59	▲	0.13%		

http://finance.yahoo.com/news/market-focus-italys-change-government-122047199.html

*Market focus on Italy's change of government

Markets steady as Renzi poised to become new premier; trading subdued on US Presidents Day*

By Pan Pylas, AP Business Writer 

Global markets were steady on Monday as investors sought clarity over Italy's political and economic future and took to the sidelines as Wall Street remained shut for a holiday.

Now that Italy's President Giorgio Napolitano has asked Matteo Renzi to form a new government, investors want to see how quickly he tackles reforms needed to get the economy going.

Renzi, who is the mayor of Florence and poised to be the country's youngest premier at 39 years of age, engineered last week's ouster of Enrico Letta, who had only been Italy's leader for 10 months. Renzi argued a change of government was needed to get on with reforms.

Italy only recently emerged from recession, figures showed last week, but growth remains paltry. Its debt burden is also the second-highest in the 18-country eurozone, behind Greece.

"While political turmoil is nothing new in Italy, the return to growth last week was, but it was meagre at best, and Renzi may not have much of a honeymoon period if all we get is more of the same," said Michael Hewson, senior market analyst at CMC Markets.

By the close, Italy's FTSE MIB index was up 0.1 percent at 20,459.65, while Germany's DAX fell 0.1 percent to 9,65.76. The CAC-40 in France ended 0.1 percent lower at 4,335.17.

The FTSE 100 in Britain outperformed its counterparts, closing 1.1 percent higher at 6,736.00, gaining momentum as it broke through the 6,700 level for the first time in over 3 weeks.

"It is not often that Europe struggles to keep pace with the bullish moves of U.K. traders, but today looks to be that exception to the rule," said Alastair McCaig, market analyst at IG.

One reason why trading has proved lackluster in Europe is the fact that U.S. markets are closed for Presidents Day.

There was an equally subdued feel in currency markets, where the euro was flat at $1.3707 and the dollar fell 0.2 percent to 101.30 yen.

Earlier, in Asia, the mood was a little bit more upbeat, after figures showed that lending by Chinese banks and in the largely unregulated underground market rebounded to 2.6 trillion yuan ($430 billion) in January from December's 1.2 billion yuan. Lending usually surges at the start of a new year but January's rise exceeded forecasts and might help to ease worries about cooling retail sales, manufacturing and other activity.

Among the gainers was the Shanghai Composite Index, which added 0.9 percent to 2,135.41. Japan's Nikkei 225 gained 0.6 percent to 14,393.11 while Hong Kong's Hang Seng rose 1 percent to 22,520.74.

Tokyo's rise came despite Japan's latest quarterly economic growth disappointing forecasters, holding steady at 0.3 percent. Growth in private consumption accelerated to 0.5 percent from the previous quarter's 0.2 percent but fell short of forecasts.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-23.99	points or ▼	-0.15%	on	Tuesday, 18 February 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,130.40	▼	-23.99	▼	-0.15%		
	Nasdaq____	4,272.78	▲	28.76	▲	0.68%		
	S&P_500___	1,840.76	▲	2.13	▲	0.12%		
	30_Yr_Bond____	3.68	▼	-0.02	▼	-0.54%		

NYSE Volume	 3,405,726,750 	 	 	 	 	  		 
Nasdaq Volume	 1,862,530,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,796.43	▲	60.43	▲	0.90%		
	DAX_____	9,659.78	▲	3.02	▲	0.03%		
	CAC_40__	4,330.71	▼	-4.46	▼	-0.10%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,402.20	▲	7.40	▲	0.14%		
	Shanghai_Comp	2,119.07	▼	-16.35	▼	-0.77%		
	Taiwan_Weight	8,556.23	▲	36.68	▲	0.43%		
	Nikkei_225___	14,843.24	▲	450.13	▲	3.13%		
	Hang_Seng.__	22,587.72	▲	51.78	▲	0.23%		
	Strait_Times.__	3,070.78	▲	1.50	▲	0.05%		
	NZX_50_Index_	4,895.10	▲	0.11	▲	0.00%		

http://finance.yahoo.com/news/stocks-edge-higher-quiet-post-215826720.html

*Stocks edge higher in quiet, post-holiday trading

US stocks end mostly higher in quiet, post-holiday trading; Coca-Cola pulls the Dow lower*

By Ken Sweet, AP Markets Writer

Stocks closed mostly higher Tuesday on Wall Street as traders got back to work after a long holiday weekend.

It was a fairly quiet day for traders, who had relatively little news to react to.

Health care stocks far more than the rest of the market after pharmaceutical company Actavis said it was buying rival Forest Laboratories for $25 billion in cash and stock.

Investors liked the deal, which is intended to make the companies more competitive in a rapidly changing industry and allow them to command higher prices from insurance companies. Actavis makes the generic versions of hyperactivity disorder medication Concerta and the cholesterol drug Lipitor, while Forest Labs makes the Alzheimer's treatment Namenda.

The Dow Jones industrial average lost 23.99 points, or 0.2 percent, to 16,130.40. The Dow was dragged lower by Coca-Cola, which fell $1.46, or 4 percent, to $37.47.

Coke reported that its income and sales fell in the fourth quarter compared with the same period a year ago. The company said sales volume declined 1 percent in North America, its largest market.

The Standard & Poor's 500 index rose 2.13 points, or 0.1 percent, to 1,840.76. The Nasdaq composite rose 28.76 points, or 0.7 percent, to 4,272.78.

Forest Labs and Actavis were among the biggest gainers in the S&P 500 index. Forest Labs soared $19.65, or 28 percent, to $91.04 and Actavis rose $9.59, or 5 percent, to $201.47.

Other drug makers also rose sharply. Gilead Sciences rose $2.60, or 3 percent, to $83.81 and Eli Lilly rose $1.05, or 2 percent, to $55.25.

The Forest Labs-Actavis deal is the latest in big-name, big-budget deals to be announced so far this year. Last week cable giant Comcast announced a deal to buy Time Warner Cable for $45 billion and Japan's Suntory Holdings announced last month it was buying Beam, the maker of Jim Beam and Maker's Mark whiskey, for $13.9 billion.

Investors should expect more large deals this year, said Mike Serio, regional chief investment officer at Wells Fargo Private Bank.

"This has been building up for three or four years now," he said. "Companies have so much money on their balance sheets and there's only so much you can do with it. You could increase your dividend. You could buy back stock. You could spend it on (business investments), or you can do deals."

The stock market is extending its gain from last week, when the S&P 500 increased 2.3 percent. Investors liked what they heard from Federal Reserve Chair Janet Yellen, who said she planned to continue her predecessor's market-friendly policies for the time being.

The market's turnaround last week was especially notable given the rough start to the year. The S&P 500 has risen seven out of the last eight days.

"I would be very surprised if we don't see the market move back to its highs very soon," said Randy Frederick, a managing director at Charles Schwab.

Even with the market's recent rise, both the Dow and the S&P 500 are still down slightly for 2014. The Dow has lost 2.7 percent, the S&P 500 just 0.4 percent.

Investors had two minor economic reports on Tuesday to work through. Both suggested that the bitter winter weather that has enveloped much of the nation the last two months has been holding back the U.S. economy.

The New York Federal Reserve's Empire State survey showed that manufacturing slowed in the region in February far more than economists expected. Meanwhile, a survey of the housing market showed homebuilder confidence fell sharply in February, due to the severe weather.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.71 percent from 2.75 percent on Friday.

Gold rose $5.80, or 0.4 percent, to $1,324.40, continuing a weeklong rally. A report from the World Gold Council showed that Chinese demand for gold rose 32 percent in 2013 from 2012, a sign that overseas demand may not be as weak as originally thought.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-89.84	points or ▼	-0.56%	on	Wednesday, 19 February 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,040.56	▼	-89.84	▼	-0.56%		
	Nasdaq____	4,237.95	▼	-34.83	▼	-0.82%		
	S&P_500___	1,828.75	▼	-12.01	▼	-0.65%		
	30_Yr_Bond____	3.71	▲	0.03	▲	0.73%		

NYSE Volume	 3,639,807,250 	 	 	 	 	  		 
Nasdaq Volume	 1,906,611,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,796.71	▲	0.28	▲	0.00%		
	DAX_____	9,660.05	▲	0.27	▲	0.00%		
	CAC_40__	4,341.10	▲	10.39	▲	0.24%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,415.50	▲	13.30	▲	0.25%		
	Shanghai_Comp	2,142.55	▲	23.49	▲	1.11%		
	Taiwan_Weight	8,577.01	▲	20.78	▲	0.24%		
	Nikkei_225___	14,766.53	▼	-76.71	▼	-0.52%		
	Hang_Seng.__	22,664.52	▲	76.80	▲	0.34%		
	Strait_Times.__	3,088.79	▲	18.01	▲	0.59%		
	NZX_50_Index_	4,914.14	▲	19.04	▲	0.39%		

http://finance.yahoo.com/news/stocks-slip-fed-rate-talk-221235793.html

*Stocks slip as Fed rate talk spooks some investors
US stocks slip as talk of a possible Fed rate increase spooks some investors; Netflix falls*

By Ken Sweet, AP Markets Writer 

 Stocks fell Wednesday as investors were left uneasy by news that Federal Reserve policymakers were willing to start raising short-term interest rates sooner than previously expected.

The market was mixed most of the day, then turned lower after 2 p.m., when the Fed released the minutes from its January policy meeting.

The minutes revealed that some policymakers "raised the possibility that it might be appropriate to increase the federal funds rate relatively soon."

That came as an unwelcome surprise to many investors, who haven't had to worry about increases in the Federal Reserve's benchmark short-term interest rate for about five years.

"The working assumption among investors was that the Fed was going to keep short-term interest rates as low as possible for as far as the eye can see," said Jack Ablin, chief investment officer at BMO Private Bank, which oversees $66 billion in assets.

The Dow Jones industrial average lost 89.84 points, or 0.6 percent, to 16,040.56. It had been up as much as 95 points earlier in the day. The Standard & Poor's 500 index fell 12.01 points, or 0.7 percent, to 1,828.75 and the Nasdaq composite fell 34.83 points, or 0.8 percent, to 4,237.95.

The Federal Reserve has kept the federal funds rate, the interest banks charge each other to borrow money, near zero since December 2008 in an effort to support the U.S. financial system by keeping borrowing costs low. The rate has remained close to zero since then.

In more normal years, short-term interest rates were the Fed's main tool for regulating the U.S. economy. Even small changes in its benchmark borrowing rate could have an impact throughout the economy by raising or lowering interest rates on many kinds of loans, including home mortgages and business loans. Since the financial crisis, the Fed has turned to less traditional ways of stimulating the economy, including the Fed's current bond-buying program.

It's unlikely that the Fed would raise interest rates soon, especially since the Fed is in the middle of winding down its bond-buying program. Newly installed Federal Reserve Chair Janet Yellen and her predecessor Ben Bernanke both repeatedly indicated that the central bank wouldn't raise rates until 2015 at the earliest.

Nonetheless, the comments from Fed policymakers caught many investors off guard.

"Any time we hear 'increase in rates,' we listen," said Jonathan Corpina, a trader on the floor of the New York Stock Exchange with Meridian Equity Partners.

Energy stocks were among the few sectors to close higher, helped by a surge in natural gas prices.

Natural gas jumped 60 cents, or 11 percent, to $6.15 per 1,000 cubic feet, the first time it's been over $6 in four years. Natural gas has climbed sharply this year, due in large part to the cold weather that has plagued most of the country, leading to higher-than-usual demand.

Natural gas companies Chesapeake Energy and Devon Energy rose more than 2 percent. Energy giant Chevron rose 89 cents, or 1 percent, to $113.60, making it the second-biggest gainer in the Dow 30.

Investors also reacted to the latest merger of name-brand companies Wednesday, this time in the jewelry industry.

Signet Jewelers, which owns Kay Jewelers and Jared the Galleria of Jewelry, said it is buying Zale's for $21 per share in cash, a 40 percent premium to where Zale's was trading at Tuesday. The news sent both stocks sharply higher. Zales jumped $6.01, or 40 percent, to $20.92 and Signet rose $14.38, or 18 percent, to $93.65.

The Zales-Signet combination is the latest in a series of notable deals that have been announced in the last few weeks. On Monday, pharmaceutical giants Forest Laboratories and Actavis announced they would merge in a $25 billion deal.

"I suspect we'll see more M&A, with all the money these companies have on their balance sheets," said Ian Winer, director of trading at Wedbush Securities.

In other company news:

”” Netflix fell $8.62, or 2 percent, to $428.23. The company is reportedly in a dispute with Verizon and other telecom companies over the cost of carrying Netflix's programming over their networks. Netflix is one of the biggest users of Internet bandwidth in the U.S., and it usage continues to grow as more high-definition video becomes available. Verizon and other Internet service providers want Netflix to pay more to use their network, according to The Wall Street Journal and other news outlets. Verizon rose 55 cents, or 1 percent, to $46.53.

”” U.S. Steel fell $1.88, or 7 percent, to $24.65. The Commerce Department decided not to impose tariffs on South Korean steel pipe makers. The U.S. is South Korea's biggest market for steel, and imports from Korea push down steel prices in the U.S., hurting companies like U.S. Steel.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	92.67	points or ▲	0.58%	on	Thursday, 20 February 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,133.23	▲	92.67	▲	0.58%		
	Nasdaq____	4,267.55	▲	29.59	▲	0.70%		
	S&P_500___	1,839.78	▲	11.03	▲	0.60%		
	30_Yr_Bond____	3.73	▲	0.02	▲	0.51%		

NYSE Volume	 3,373,328,750 	 	 	 	 	  		 
Nasdaq Volume	 1,946,346,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,812.99	▲	16.28	▲	0.24%		
	DAX_____	9,618.85	▼	-41.20	▼	-0.43%		
	CAC_40__	4,355.49	▲	14.39	▲	0.33%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,421.30	▲	5.80	▲	0.11%		
	Shanghai_Comp	2,138.78	▼	-3.77	▼	-0.18%		
	Taiwan_Weight	8,524.62	▼	-52.39	▼	-0.61%		
	Nikkei_225___	14,449.18	▼	-317.35	▼	-2.15%		
	Hang_Seng.__	22,394.08	▼	-270.44	▼	-1.19%		
	Strait_Times.__	3,085.57	▼	-3.22	▼	-0.10%		
	NZX_50_Index_	4,909.83	▼	-4.31	▼	-0.09%		

http://finance.yahoo.com/news/stocks-rise-us-manufacturing-expands-195218813.html

*Stocks rise as US manufacturing expands
Stocks climb after strong US manufacturing report offsets weak data from China; Safeway jumps*

By Steve Rothwell, AP Markets Writer

The pendulum swung again for stocks on Thursday.

After slumping a day earlier as investors digested minutes from the Federal Reserve's January policy meeting, the stock market got a boost on Thursday from a couple of encouraging surveys that suggested the economy may be poised to pick up after a winter slump.

Manufacturing in the U.S. expanded at the fastest pace in almost four years in February, according to a private survey by Markit. In a separate report, the Conference Board said that its index of leading indicators posted a moderate gain in January, suggesting that the economy will continue to expand in the first half of the year.

"Today's market is reflecting the fact that the economy has gone through the doldrums due to the weather and we should now see a substantial pickup," said Peter Cardillo, chief market economist at Rockwell Global Capital.

The Standard & Poor's 500 index rose 11.03 points, or 0.6 percent, to 1,839.78. The Dow Jones industrial average gained 92.67 points, or 0.6 percent, to 16,133.23. The Nasdaq composite climbed 29.59 points, or 0.7 percent, to 4,267.55.

The stock market is now close to erasing all of its losses after a volatile start to the year. Concerns about slowing growth in China and other emerging markets, as well as worries about the health of the U.S. economy, had pushed the S&P 500 down almost six percent for the year by the start of February.

Among individual stocks, Safeway rose after the grocer said it was in talks to put itself up for sale. The grocer's stock climbed 71 cents, or 2.1 percent, to $35.32 after the company said late Wednesday that discussions are ongoing but that it hasn't yet reached an agreement on a transaction.

Tesla Motors was also another winner after posting strong earnings and forecasting a sharp rise in sales this year. Tesla's stock jumped $16.33, or 8.4 percent, to $209.97.

Stocks moved between small gains and losses in the first hour of trading as investors weighed the data from the U.S. against a survey that showed manufacturing in China contracted for a second straight month in February.

Data showing weakness in China's manufacturing sector had pushed stocks lower in January, but on Thursday investors decided to focus on the positive news out of the U.S., and by late morning stocks moved decisively higher. The S&P 500 ended the day nine points short of its record high of 1,848.38 set Jan. 15.

After a surge of almost 30 percent in the S&P 500 in 2013, the market has become more volatile this year. Given those strong gains, the market will struggle to climb much further this year, said Tom Karsten, an investment adviser at Karsten Advisors.

"While we may see continued economic growth, I don't think that it's powerful enough to justify that there would really be much upward possibility for equity prices," said Karsten.

Among the day's losers were Wal-Mart and oil and gas company Denbury.

Wal Mart's stock fell $1.33, or 1.8 percent, to $73.52 after it offered a weak profit outlook, signaling that it expects economic pressures to keep weighing on its low-income shoppers around the world. The world's largest retailer also said Thursday that its fourth-quarter profit, which covers the crucial holiday season, dropped 21 percent.

Energy company Denbury Resources fell 24 cents, or 1.5 percent, to $15.95 after it posted earnings that fell short of the expectations of Wall Street analysts. The company also said that its 2014 production would likely be at the lower end of its expectations.

In government bond trading, the yield on the 10-year note rose to 2.75 percent from 2.74 percent on Wednesday. The price of oil fell 39 cents, or 0.4 percent, to $102.92. The price of gold fell $3.50, or 0.3 percent, to $1,316.90 an ounce.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-29.93	points or ▼	-0.19%	on	Friday, 21 February 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,103.30	▼	-29.93	▼	-0.19%		
	Nasdaq____	4,263.41	▼	-4.13	▼	-0.10%		
	S&P_500___	1,836.25	▼	-3.53	▼	-0.19%		
	30_Yr_Bond____	3.70	▼	-0.03	▼	-0.81%		

NYSE Volume	 3,384,787,750 	 	 	 	 	  		 
Nasdaq Volume	 2,104,607,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,838.06	▲	25.07	▲	0.37%		
	DAX_____	9,656.95	▲	38.10	▲	0.40%		
	CAC_40__	4,381.06	▲	25.57	▲	0.59%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,449.40	▲	28.10	▲	0.52%		
	Shanghai_Comp	2,113.69	▼	-25.09	▼	-1.17%		
	Taiwan_Weight	8,601.86	▲	77.24	▲	0.91%		
	Nikkei_225___	14,865.67	▲	416.49	▲	2.88%		
	Hang_Seng.__	22,568.24	▲	174.16	▲	0.78%		
	Strait_Times.__	3,099.93	▲	13.29	▲	0.43%		
	NZX_50_Index_	4,927.64	▲	17.81	▲	0.36%		

http://finance.yahoo.com/news/early-gain-fades-stocks-p-220200412.html

*Early gain fades for stocks; S&P 500 declines

US stocks fall, pushing S&P 500 index to a weekly loss; Groupon plunges on earnings outlook*

By Steve Rothwell, AP Markets Writer 

Stocks slipped on Friday, pushing the market to a weekly loss, as investors assessed the latest round of company earnings.

Express Scripts, the largest U.S. pharmacy benefits manager, fell after its fourth-quarter earnings slipped, hurt by the loss of UnitedHealth, a large customer. Groupon plunged after the online deals company said it expects to post a loss this quarter and issued a weak outlook for the year.

The Standard & Poor's 500 index rose in early trading Friday and had almost wiped out its loss for the year by late morning, climbing to within two points of it record close. By late afternoon the index started to turn lower.

The stock market has gained this month after getting a boost from decent corporate earnings for the fourth quarter and optimism that the economy will start to pull out of its winter slump as the weather improves.

While investors have been willing to overlook much of the weak economic data this month, they appear reluctant to push the stock market back above its recent highs before they see firmer evidence that the economy is sustaining its recovery.

Investors are "giving the economic data points a bit of a free pass, but at the same time they're not fully convinced either," said Robert Pavlik, chief market strategist at Banyan Partners, a wealth management firm.

The S&P 500 index fell 3.53 points, or 0.2 percent, to 1,836.25. The index lost 2.38 points for the week and is now 12 points below its record close of 1,848.38, set Jan. 15.

The Dow Jones industrial average fell 29.93 points, or 0.2 percent, to 16,103.30. The Nasdaq composite dropped 4.13 points, or 0.1 percent, to 4,263.41.

Among individual stocks, Express Scripts fell $3.11, or 4 percent, to $74.01 after it reported its results.

Groupon plunged $2.25, or 21.9 percent, to $8.03 after the online deals company said it was ramping up its marketing campaign and forecast 2014 pre-tax earnings to be only slightly higher than last year.

Stock investors have had a bumpy ride so far this year.

The S&P 500 was down almost 6 percent for the year at the start of February amid concerns about slowing growth in China and other emerging markets, as well as worries about the state of the U.S. economy. Since then stocks have rebounded, but some investors aren't convinced the recovery will last.

"I've felt all along that this is going to be a very volatile year," said Uri Landesman, president of Platinum Partners, an investment management company. "For me, you've got a lot more downside than upside."

The S&P 500 rose almost 30 percent last year, and investors are now too bullish on the stock market, making it vulnerable to a sell-off, Landesman said.

Ameren, a utility company based in St. Louis, Mo., was among the winners on Friday.

The stock rose $2.07, or 5.3 percent, to $40.88, making it the biggest gainer in the S&P 500. Ameren reported earnings that beat Wall Street's expectations after cold weather boosted demand for gas and electricity.

Among other stocks making big moves on Friday:

— Intuit rose $3.39, or 4.6 percent, to $77.24 after the maker of Quicken, TurboTax and other financial software raised its earnings forecast for its fiscal third quarter. Intuit said it was off to a good start in tax season and that electronic tax filings using TurboTax were up 10 percent as of Feb. 14.

— Priceline.com climbed $32.65, or 2.5 percent, to $1,315.65 after the online travel company reported earnings that exceeded the expectations of Wall Street analysts, as bookings for hotels, rental cars and airline tickets accelerated.

4397


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	103.84	points or ▲	0.64%	on	Monday, 24 February 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,207.14	▲	103.84	▲	0.64%		
	Nasdaq____	4,292.97	▲	29.56	▲	0.69%		
	S&P_500___	1,847.61	▲	11.36	▲	0.62%		
	30_Yr_Bond____	3.71	▲	0.02	▲	0.41%		

NYSE Volume	 3,883,912,750 	 	 	 	 	  		 
Nasdaq Volume	 2,136,155,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,865.86	▲	27.80	▲	0.41%		
	DAX_____	9,708.94	▲	51.99	▲	0.54%		
	CAC_40__	4,419.13	▲	38.07	▲	0.87%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,450.10	▲	0.70	▲	0.01%		
	Shanghai_Comp	2,076.69	▼	-37.01	▼	-1.75%		
	Taiwan_Weight	8,560.61	▼	-41.25	▼	-0.48%		
	Nikkei_225___	14,837.68	▼	-27.99	▼	-0.19%		
	Hang_Seng.__	22,388.56	▼	-179.68	▼	-0.80%		
	Strait_Times.__	3,105.84	▲	5.91	▲	0.19%		
	NZX_50_Index_	4,969.65	▲	42.00	▲	0.85%		

http://finance.yahoo.com/news/stocks-end-higher-fall-short-212316949.html

*Stocks end higher but fall short of record high
Stocks end higher on corporate deals, but S&P 500 index misses record high after fading late*

By Ken Sweet, AP Markets Writer

The stock market ended higher Monday, but a late fade kept it from closing at an all-time high.

The market marched broadly higher most of the day, helped by optimism about the economy and more corporate mergers, only to slowly lose momentum in the final half hour of trading.

The Standard & Poor's 500 index ended up 11.36 points, or 0.6 percent, to 1,847.61 ”” just short of its record close of 1,848.38 set on Jan. 15. The momentum helped the index set a new intraday high of 1,858.76 earlier in the day, however.

The Dow Jones industrial average rose 103.84 points, or 0.6 percent, to 16,207.14 and the Nasdaq composite rose 29.56 points, or 0.7 percent, to 4,292.97.

Investors had little in the way of economic data or corporate earnings to work through, so much of Monday's focus was on another round of corporate deal making.

Chipmaker RF Micro Devices jumped $1.22, or 21 percent, to $7.03 after it said would buy a competitor, TriQuint Semiconductor, in an all-stock deal valued at about $1.56 billion. TriQuint soared $2.41, or 26 percent, to $11.64.

Meanwhile, men's clothing chain Jos. A. Bank rose $4.99, or 9 percent, to $60.04 after competitor Men's Wearhouse increased its buyout offer. Men's Wearhouse rose $3.40, or 8 percent, $48.51.

M&A has taken off this year. Last week, Forest Laboratories and Actavis announced a $25 billion merger and Facebook said it was buying WhatsApp for $19 billion. That's on top of deals or offers announced this week.

Companies buying competitors, or buying up a company whose product interests them, should be seen as a positive for stocks, market watchers say.

"It shows that companies still see value in this market, even at these highs," said Quincy Krosby, a market strategist at Prudential Financial.

In the last two-and-a-half weeks, the stock market has basically erased of the losses it experienced after a difficult start to the year.

The S&P 500 index was down as much 6 percent for the year as of February 3 as investors worried about emerging markets like China and Turkey. The U.S. economic recovery was also showing signs of slowing growth.

But the U.S. stock market has recovered as turbulence in overseas markets calms down.

In the latest development in overseas markets, the chaos in Ukraine came to an abrupt halt over the weekend following the ouster of President Viktor Yanulovych. Investors had been worried about the escalating violence.

"The risks in emerging markets continue to recede, and now the problems in the Ukraine are out of the way," said Bill Stone, chief investment strategist at PNC Wealth Management.

The S&P 500's 1,850-point level continues to be a ceiling for investors trying to bid stocks higher. The index has tried to close above 1,850 three times in the last three months, failing each time.

Investors have a chance to test all-time highs after economic reports come out later this week.

Fed Chair Janet Yellen will testify in front of the Senate Banking Committee on Thursday. Economic reports this week include durable goods orders and U.S. fourth-quarter gross domestic product.

Government bond prices were flat Monday. The yield on the 10-year Treasury note was unchanged from Friday at 2.74 percent. The price of oil rose 62 cents to $102.82 a barrel. Gold rose $14.40 to $1,338 an ounce.

In other corporate news:

”” Netflix and Comcast reached an agreement to ensure that the online video service's shows and movies are streamed smoothly. No details were released about the cost to Netflix. Comcast gained 10 cents, or 0.2 percent, to $51.15 and Netflix was up $14.77, or 3 percent, to $447.

”” eBay rose $1.71, or 3 percent, to $56.30 after the activist shareholder Carl Icahn disclosed a 2 percent stake in the company. Icahn is looking to replace several members of eBay's board of directors.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-27.48	points or ▼	-0.17%	on	Tuesday, 25 February 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,179.66	▼	-27.48	▼	-0.17%		
	Nasdaq____	4,287.59	▼	-5.38	▼	-0.13%		
	S&P_500___	1,845.12	▼	-2.49	▼	-0.13%		
	30_Yr_Bond____	3.66	▼	-0.05	▼	-1.35%		

NYSE Volume	 3,467,076,000 	 	 	 	 	  		 
Nasdaq Volume	 2,102,861,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,830.50	▼	-35.36	▼	-0.52%		
	DAX_____	9,699.35	▼	-9.59	▼	-0.10%		
	CAC_40__	4,414.55	▼	-4.58	▼	-0.10%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,444.00	▼	-6.10	▼	-0.11%		
	Shanghai_Comp	2,034.22	▼	-42.47	▼	-2.04%		
	Taiwan_Weight	8,575.62	▲	15.01	▲	0.18%		
	Nikkei_225___	15,051.60	▲	213.92	▲	1.44%		
	Hang_Seng.__	22,317.20	▼	-71.36	▼	-0.32%		
	Strait_Times.__	3,104.38	▼	-1.46	▼	-0.05%		
	NZX_50_Index_	4,967.51	▼	-2.13	▼	-0.04%		

http://finance.yahoo.com/news/stocks-end-lower-down-day-215956610.html

*Stocks end lower after an up-and-down day
Stocks edge lower after a day of choppy trading; Harsh weather dents consumer confidence*

By Ken Sweet, AP Markets Writer

Stocks were unable to find any momentum on Tuesday.

The market drifted between gains and losses throughout the day, then headed steadily lower in the last hour of trading. Investors found some solace in strong results from Home Depot and Macy's. The enthusiasm was not enough, however, to offset an unexpectedly steep decline in consumer confidence this month, due largely to bitter cold weather and winter storms that affected much of the country.

"The weather is having an impact on everything, from homes, vehicles to retail sales, but fortunately we expect that pent-up demand to return later this year," said Joseph Tanious, a global market strategist at J.P. Morgan Funds.

The Dow Jones industrial average lost 27.48 points, or 0.2 percent, to 16,179.66. The Standard & Poor's 500 index fell 2.49 points, or 0.1 percent, to 1,845.12 and the Nasdaq composite fell 5.38 points, or 0.1 percent, to 4,287.59.

Even the retailers, who have a tendency to blame the weather for poor results, had a valid point this time around.

Macy's reported an 11 percent rise in fourth-quarter income that handedly beat analysts' expectations, but sales came up short due to the weather. The company said that at one time in January, 30 percent of its stores were closed because of inclement weather.

Home Depot had a similar story. The nation's largest home improvement retailer said profits fell 1 percent from a year ago, hampered by bad winter conditions.

"We don't like to use weather as an excuse but we think we probably lost $100 million in the month of January," Home Depot's chief financial officer, Carol Tome, said in a conference call with investors. "Atlanta was frozen, for example. It was tough here."

Investors were able to forgive Macy's and Home Depot for missing analysts' sales expectations. Macy's rose $3.19, or 6 percent, to $56.25 and Home Depot closed up $3.11, or 4 percent, to $80.98.

Investors were less forgiving about a weak consumer confidence report.

The Conference Board's index of consumer confidence fell to 78.1 in February from 80.7 the month before. That was below the 80.1 level economists polled by FactSet were expecting. The report is a closely watched indicator of how likely consumers are to spend money and keep the economy moving forward.

The confidence slump was the latest sign in the last several weeks that the recent bout of cold weather has slowed the economy. The regions that had the biggest declines in confidence were in the middle of the storm earlier in this month that brought snow from Atlanta to Boston.

"Perhaps (confidence) would have done slightly better had the weather been less dismal," economists at the investment bank RBS wrote in a note to investors.

Investors should expect more muddled days like this for the next few weeks, strategists say.

Fourth-quarter earnings reports are mostly over. With Home Depot's results now out, all 30 members of the Dow have released earnings for this quarter. By the end of the week, 486 out of the 500 members of the S&P 500 will have reported their results.

That means investors will have little in the way of corporate news to sort through, and fewer reasons to push individual stocks higher.

The economic data for the next few weeks is likely to be a wash as well, as most of it would have been impacted one way or another by the cold weather.

"This lack of direction is going to be with us for a while," said Sam Stovall, chief equity strategy at S&P Capital IQ.

In other markets, the yield on the U.S. 10-year Treasury note was effectively unchanged from the day before at 2.70 percent. The price of crude oil fell 99 cents, or 1 percent, to $101.83 and gold rose $4.70, or 0.4 percent, to $1,342.70.

In other company news:

”” Several defense contractors fell following Defense Secretary Chuck Hagel's announcement Monday that the size of the nation's armed forces would be reduced to below World War II levels. Northrup Grumman fell 2 percent, while Raytheon and Lockheed Martin fell 1.5 percent.

”” Tenet Healthcare fell $4.40, or 9 percent, to $43.92 after the hospital management company reported a loss in the fourth quarter. Tenet took on more debt because of an acquisition and a stock repurchase program.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	18.75	points or ▲	0.12%	on	Wednesday, 26 February 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,198.41	▲	18.75	▲	0.12%		
	Nasdaq____	4,292.06	▲	4.48	▲	0.10%		
	S&P_500___	1,845.16	▲	0.04	▲	0.00%		
	30_Yr_Bond____	3.63	▼	-0.03	▼	-0.71%		

NYSE Volume	 3,682,812,750 	 	 	 	 	  		 
Nasdaq Volume	 2,081,429,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,799.15	▼	-31.35	▼	-0.46%		
	DAX_____	9,661.73	▼	-37.62	▼	-0.39%		
	CAC_40__	4,396.91	▼	-17.64	▼	-0.40%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,447.00	▲	3.00	▲	0.06%		
	Shanghai_Comp	2,041.25	▲	7.04	▲	0.35%		
	Taiwan_Weight	8,600.86	▲	25.24	▲	0.29%		
	Nikkei_225___	14,970.97	▼	-80.63	▼	-0.54%		
	Hang_Seng.__	22,437.44	▲	120.24	▲	0.54%		
	Strait_Times.__	3,088.25	▼	-15.37	▼	-0.50%		
	NZX_50_Index_	4,973.20	▲	5.69	▲	0.11%		

http://finance.yahoo.com/news/stocks-edge-higher-p-500-221501231.html

*Stocks edge higher, but S&P 500 ends shy of record
Stocks eke out small gain but S&P 500 falls short of a record for third day; retailers gain*

By Steve Rothwell, AP Markets Writer

The stock market is struggling to take it to the next level.

For a third straight day the Standard & Poor's 500 index traded above its record close but fell back to end below it. An early move higher Wednesday was led by retailers and home builders, but the gains mostly petered out in the afternoon. By the closing bell the index was up just a fraction of a point.

After rebounding from losses early in the year, when investors were concerned about the outlook for growth in emerging markets and the U.S., the stock market now appears to be at a crossroads.

While investors seem comfortable attributing the recent weakness in economic reports to the unusually cold weather, they also appear reluctant to push stocks higher before they see more evidence of growth.

"This is a market that has been trying to decipher how much of the negative news is weather-based, against concerns that we have moved into a soft patch," said Quincy Krosby, a market strategist at Prudential Financial.

The S&P 500 edged up four-hundredths of a point to close at 1,845.16, three points short of its record high close of 1,848.38 set Jan. 15. The index climbed as high as 1,852.65.

The Dow Jones industrial average rose 18.75, or 0.1 percent, to 16,198.41. The Nasdaq composite rose 4.48 points, or 0.1 percent, to 4,292.06.

Home builder stocks rose sharply after the government reported that U.S. sales of new homes jumped in January at the fastest pace in more than five years. That's a hopeful sign after a slowdown in the housing market last year caused by higher interest rates. PulteGroup rose 57 cents, or 2.8 percent, to $21.25 and Lennar rose $1.52, or 3.6 percent, to $43.78.

Retailers rose after several encouraging earnings reports.

Lowe's climbed $2.61, or 5.4 percent, to $50.72. The company's net income rose 6 percent in the most recent quarter as the home-improvement retailer continued to benefit from a recovery in the housing market. The company also announced a new $5 billion stock repurchase program.

Abercrombie & Fitch jumped $4.05, or 11.3 percent, to $40.04 after posting earnings that exceeded the expectations of Wall Street analysts. The retailer also initiated a $150 million accelerated share buyback program.

"We've dialed estimates down in that space, simply because of worries about the effects of the weather," said Darrell Cronk, regional chief investment officer for Wells Fargo Private Bank. "A lot of people were walking in today expecting some of those retail companies to have much softer results."

Investor may get a catalyst to push stocks higher on Thursday when Janet Yellen, the new head of the Federal Reserve, testifies in front of the Senate's Banking Committee. Stocks jumped Feb. 11 when Yellen spoke to Congress, and said that she would continue the central bank's market-friendly, low-interest rate policies.

The comments were her first in public since taking over for Ben Bernanke at the Fed. Her appearance in the Senate was delayed because of a winter storm.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.66 percent from 2.70 percent.

Among other stocks making big moves:

”” Barnes & Noble rose 75 cents, or 4.2 percent, to $18.47 after reporting a third-quarter profit. Cost cuts at the company's Nook e-reader unit and elsewhere helped offset declining revenue.

”” Target rose after reporting its quarterly results. The stock surged $3.98, or 7 percent, to $60.49 after the company said its sales have been recovering since January, an encouraging sign after shoppers shunned the store after the theft of credit card numbers and other information from millions of customers last year.

”” Chesapeake Energy fell $1.33, or 4.9 percent, to $25.61 after the oil and natural gas company reported a fourth-quarter loss, hurt by one-time charges. The company's adjusted earnings came in lower than Wall Street expected.

”” First Solar fell $5.29, or 9.1 percent, to $52.74 after the solar panel manufacturer reported earnings that fell short of financial analysts' expectations.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	74.24	points or ▲	0.46%	on	Thursday, 27 February 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,272.65	▲	74.24	▲	0.46%		
	Nasdaq____	4,318.93	▲	26.87	▲	0.63%		
	S&P_500___	1,854.29	▲	9.13	▲	0.49%		
	30_Yr_Bond____	3.60	▼	-0.04	▼	-1.07%		

NYSE Volume	 3,521,608,250 	 	 	 	 	  		 
Nasdaq Volume	 2,030,790,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,810.27	▲	11.12	▲	0.16%		
	DAX_____	9,588.33	▼	-73.40	▼	-0.76%		
	CAC_40__	4,396.39	▼	-0.52	▼	-0.01%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,421.00	▼	-26.00	▼	-0.48%		
	Shanghai_Comp	2,047.35	▲	6.10	▲	0.30%		
	Taiwan_Weight	8,639.58	▲	38.72	▲	0.45%		
	Nikkei_225___	14,923.11	▼	-47.86	▼	-0.32%		
	Hang_Seng.__	22,828.18	▲	390.74	▲	1.74%		
	Strait_Times.__	3,096.74	▲	8.49	▲	0.27%		
	NZX_50_Index_	4,964.34	▼	-8.86	▼	-0.18%		

http://finance.yahoo.com/news/p-500-index-closes-record-220723832.html

*S&P 500 index closes at a record high

S&P 500 climbs to all-time high, beating mark set six weeks ago; Drugmaker Mylan leads gains*

By Steve Rothwell, AP Markets Writer 

After knocking on the door all week, the stock market logged a record on Thursday.

The Standard & Poor's 500 index had moved above its previous all-time high on numerous occasions this week, only to fade in afternoon trading. On Thursday, the index stayed higher after getting a boost from strong earnings reported by a number of U.S. companies including the drugmaker Mylan and several retailers.

The stock market has staged an impressive turnaround in February, after slumping at the start of the year on concerns about the prospects for growth in China and worries about the health of the U.S. economy. Growth in corporate earnings and optimism that the Federal Reserve will keep supporting the economy have helped support demand for stocks.

"In the last few days we've flirted with it, and now we've got the new high," said Ryan Detrick, a senior technical strategist at Schaeffer's Investment Research.

The timing of the new record, just before the start of spring, could help the market extend its gains, Detrick said. March has been the third-strongest month over the last 30 years, with an average gain of 1.4 percent, according to the Stock Traders' Almanac.

"It bodes well for equities for the next couple of months, at least," said Detrick.

The S&P 500 rose 9.13 points, or 0.5 percent, to 1,854.29. Its previous record high close was 1,848.38, set on Jan. 15.

The Dow Jones industrial average rose 74.24, or 0.5, percent, to 16,272.65. The Dow is still about 1.8 percent below its record close of 16,576.66. The Nasdaq composite climbed 26.87 points, or 0.6 percent, to 4,318.93. The Nasdaq is also short of its record close of 5,048.62 set in March 2000.

On Thursday, generic drugmaker Mylan led the S&P 500 index higher after reporting an 11 percent increase in fourth-quarter earnings, beating analysts' expectations despite higher expenses. Mylan's stock climbed $4.85, or 9.4 percent, to $56.27.

Stocks also got a lift from a range of retailers that reported strong earnings.

J.C. Penney jumped $1.51, or 25 percent, to $7.47 after the department store chain swung to a profit in the fourth quarter after posting a big loss in the same period a year earlier. Penney also reported its first quarterly gain in a key revenue figure in more than two years.

Kohl's rose $1.30, 2.4 percent, to $55.74 after the department store operator reported earnings that topped analysts' estimates. Revenue fell but met Wall Street's expectations.

After a tough start to the year, investor sentiment has shifted in February.

The S&P 500 was down almost six percent for the year at the start of February. Investors were selling stocks as manufacturing contracted in China and as currencies in emerging market nations such as Turkey and Argentina plummeted against the dollar. The S&P 500 erased those losses this month and is now positive for the year.

Some of the shift in sentiment was also thanks to the new Federal Reserve chief, Janet Yellen.

Stocks jumped on Feb. 11, when Yellen told Congress she would continue the central bank's market-friendly, low-interest rate policies. The comments were her first since taking over from Ben Bernanke earlier this month.

On Thursday, Yellen told the Senate Banking Committee that some recent economic data have suggested sluggish growth in consumer spending and employment. She said the Fed will be watching to see if the slowdown proves to be a temporary blip caused by the severe winter weather. This time, Yellen's testimony didn't have the same impact on the stock market as it did earlier.

The current environment of moderately improving growth and low interest rates still make it an attractive environment for investing in stocks, said Dan Curtin, an investment specialist at JPMorgan Private Bank.

"The data points that we are seeing, although slightly weaker than we might have thought, are still positive for equity valuations," said Curtin.

In government bond trading, the yield on the 10-year Treasury note fell to 2.65 percent from 2.67 percent on Wednesday.

Among other stocks making big moves:

”” Sears climbed $2.61, or 6.5 percent, to $43.01 after the company said its fourth-quarter loss narrowed. The operator of Sears and Kmart stores lowered expenses and reduced inventories. Sears has been trying to restore profitability by cutting costs, trimming inventory, selling off some assets and spinning off others.

”” General Motors fell 6 cents, or 0.2 percent, to $36.77 after the U.S. government's auto safety watchdog said it is investigating whether the automaker acted quickly enough to recall 1.6 million older-model small cars in a case linked to 13 deaths.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	49.06	points or ▲	0.30%	on	Friday, 28 February 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,321.71	▲	49.06	▲	0.30%		
	Nasdaq____	4,308.12	▼	-10.81	▼	-0.25%		
	S&P_500___	1,859.45	▲	5.16	▲	0.28%		
	30_Yr_Bond____	3.59	▲	0.00	▼	-0.11%		

NYSE Volume	 3,917,548,500 	 	 	 	 	  		 
Nasdaq Volume	 2,587,945,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,809.70	▼	-0.57	▼	-0.01%		
	DAX_____	9,692.08	▲	103.75	▲	1.08%		
	CAC_40__	4,408.08	▲	11.69	▲	0.27%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,415.40	▼	-5.60	▼	-0.10%		
	Shanghai_Comp	2,056.30	▲	8.95	▲	0.44%		
	Taiwan_Weight	8,639.58	▲	38.72	▲	0.45%		
	Nikkei_225___	14,841.07	▼	-82.04	▼	-0.55%		
	Hang_Seng.__	22,836.96	▲	8.78	▲	0.04%		
	Strait_Times.__	3,110.78	▲	14.04	▲	0.45%		
	NZX_50_Index_	4,990.04	▲	25.70	▲	0.52%		

http://finance.yahoo.com/news/stron...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*A strong February wipes out S&P 500's January loss

After posting a solid gain in February, the S&P 500 index is barely higher for the year*

By Ken Sweet, AP Markets Writer 

After two months of trading, the stock market is back where it started.

The Standard & Poor's 500 index rose 4.3 percent in February, the biggest gain since October 2013, helped by strong corporate earnings and a Federal Reserve that seems to have Wall Street's back at every turn. But the rise in February must be taken in the context that investors spent the month making up the ground they lost in January.

"February looked a lot like January, just moving in the opposite direction," said Scott Clemons, chief investment strategist with Brown Brothers Harriman Wealth Management.

Investors are also now staring at a stock market, while numbers-wise is basically where it was on Jan. 1, that is a lot more defensive than it was two months ago.

Utilities and health care stocks — two traditional "safe" places for investors because of their low volatility and higher-than-average dividends — are the biggest gainers so far this year. Utilities are up 5.7 percent in 2014 and health care is up 6.6 percent.

Investor caution was also evident in the bond market, which has done reasonably well in the last two months. The yield on the benchmark U.S. 10-year Treasury note has fallen from 2.97 percent to 2.65 percent in the last two months as investors returned to the relative safety of government debt. The Barclays U.S. Aggregate bond index, which tracks a broad mix of corporate and government bonds, is up 1.6 percent this year.

"The sentiment now is, 'bonds may not be as bad as I originally thought,'" said Michael Fredericks, a portfolio manager of the Multi-Asset Income Fund at Blackrock.

February's rise came in spite of several economic reports that showed the U.S. economy slowed in the previous month.

It started with the January jobs report, which showed employers only created 113,000 jobs that month. It was far fewer than economists had expected. Other economic reports told a similar story. Consumer confidence, manufacturing and the housing market all fell sharply in January.

Investors blamed the weather, and rightly so. Many companies, particularly retailers, said winter storms of the past two months dramatically impacted their business. Macy's said that at one time in January, 30 percent of its stores were closed because of inclement weather.

Home Depot had a similar story.

"We don't like to use weather as an excuse but we think we probably lost $100 million in the month of January," Home Depot's chief financial officer, Carol Tome, said in a conference call with investors this week. "Atlanta was frozen, for example. It was tough here."

Even with the economic concerns, investors were able to set aside the volatility of January for three reasons, market watchers said.

First, corporate earnings for the fourth quarter overall turned out to be pretty good. Earnings at companies in the S&P 500 index grew 8.5 percent over the same period last year, according to FactSet. Revenue growth also picked up, albeit slightly.

The Federal Reserve, once again, also came to the market's side. Janet Yellen, who in February took over the role as chair of the Federal Reserve, reaffirmed that the central bank plans to keep its market-friendly, low interest rate policies in place for the foreseeable future.

Lastly, weather, by its very nature, is temporary.

Spring will come, at some point, and the winter storms that have kept businesses closed and consumers away from stores will fade, investors say. All that pent-up demand will help the economy recover some of the ground lost in January and February.

"I think 70 percent, 80 percent, of the weakness we saw in January and February was weather related and we will pick up strength in the spring thaw," said Bob Doll, chief equity strategist at Nuveen Asset Management.

Investors will have less information to work with in March than they did in February.

Earnings season is basically over. Of the companies in the S&P 500 index, 484 have reported their results, as have all 30 members of the Dow, so investors won't have any corporate earnings news to respond to.

In the absence of company news, investors would typically look to the steady stream of economic data to find direction. However the severe winter weather of last two months is likely to make the upcoming economic reports even more difficult to interpret.

"You're going to be able to put on spin on any report: 'well that better than it should have been' or 'well, it was the weather,'" Clemons said. "We'll get more trustworthy numbers in April."

On Friday, the S&P 500 rose 5.16 points, or 0.3 percent, to 1,859.45. It was the second all-time closing high for the S&P 500 in a row. The S&P 500 is now up 0.6 percent for the year.

The Dow Jones industrial average rose 49.06 points, or 0.3 percent, to 16,321.76. The Nasdaq composite lost 10.81 points, or 0.3 percent, to 4,308.12.

5169


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-153.68	points or ▼	-0.94%	on	Monday, 3 March 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,168.03	▼	-153.68	▼	-0.94%		
	Nasdaq____	4,277.30	▼	-30.82	▼	-0.72%		
	S&P_500___	1,845.73	▼	-13.72	▼	-0.74%		
	30_Yr_Bond____	3.56	▼	-0.03	▼	-0.97%		

NYSE Volume	 3,400,942,500 	 	 	 	 	  		 
Nasdaq Volume	 2,028,697,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,708.35	▼	-101.35	▼	-1.49%		
	DAX_____	9,358.89	▼	-333.19	▼	-3.44%		
	CAC_40__	4,290.87	▼	-117.21	▼	-2.66%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,397.40	▼	-18.00	▼	-0.33%		
	Shanghai_Comp	2,075.23	▲	18.93	▲	0.92%		
	Taiwan_Weight	8,601.98	▼	-37.60	▼	-0.44%		
	Nikkei_225___	14,652.23	▼	-188.84	▼	-1.27%		
	Hang_Seng.__	22,500.67	▼	-336.29	▼	-1.47%		
	Strait_Times.__	3,087.47	▼	-23.31	▼	-0.75%		
	NZX_50_Index_	5,007.40	▲	17.37	▲	0.35%		

http://finance.yahoo.com/news/global-stocks-slide-tensions-build-215517239.html

*Global stocks slide as tensions build in Ukraine
Stocks slide as tensions build in Ukraine; Gold, bond prices rise as traders seek safety*

By Steve Rothwell, AP Markets Writer

Rising tensions over Russia's military advance into Ukraine pushed stock markets around the world sharply lower on Monday.

The Standard & Poor's 500 index dropped the most in a month, following stock markets in Europe and Asia lower, as Russia's military tightened its grip on the Crimea region. Investors sold stocks and bought less risky assets such as Treasurys and gold. The price of crude oil also rose on concern that Russian oil exports could be disrupted if Western countries impose sanctions on Moscow.

It's the second time this year the U.S. stock market has been roiled by developments in emerging markets. Stocks slipped in January as investors worried about slowing growth in China and other emerging economies. Now a showdown in Ukraine has grabbed investors' attention and stoked fears of a tit-for-tat campaign of economic sanctions between Russia and Western powers.

"Financial markets are doing exactly would you would expect them to," said Phil Orlando, chief equity market strategist at Federated Investors. "You have no idea what is going to happen and how this is going to play out."

The S&P 500 index fell 13.72 points, or 0.7 percent, to 1,845.73, the biggest drop since Feb. 3. The index was down as much as 25 points at one point before recouping some of the ground it lost.

The Dow Jones industrial average dropped 153.68 points, or 0.9 percent, to 16,168.03. The Nasdaq composite fell 30.82 points, or 0.7 percent, to 4,277.30.

European markets fell even more. Germany's DAX sank 3.4 percent and Russia's benchmark stock index plunged 12 percent.

"Europe gets a lot of energy supplies from Russia," said David Kelly, chief global strategist at JPMorgan funds. "So, Europe would be a lot more directly affected by a trade war with Russia than the United States would."

Kelly says that the most likely scenario is that Russia and Western powers, including the U.S., will reach a compromise relatively quickly. That would send stock prices higher.

As investors sold risky stocks, they bought safer assets such as gold and U.S. government debt securities. The dollar and the Japanese yen also increased in value.

The price of gold rose $28.70, or 2.2 percent, to $1,350.30 an ounce, its biggest gain of the year. The yield on the 10-year Treasury note, which moves inversely to its price, fell to 2.60 percent from 2.64 percent on Friday.

The price of crude following warnings by Washington and other governments that Russia, a major oil exporter, might face sanctions after it seized control of Ukraine's Crimean Peninsula. Russia was the world's second-largest producer of oil in 2012, accounting for 12.6 percent of global supplies, according to the International Energy Agency.

The prices of crude oil climbed $2.33, or 2.3 percent, to $104.92 a barrel, its highest price of the year.

Russian stocks that trade in the U.S. were also hit hard. Mechel, a mining company, fell 18 cents, or 9.5 percent, to $1.72; Phone company VimpelCom fell 51 cents, or 5 percent, to $9.65. Energy company LukOil fell $3.20, or 5.9 percent, to $51.20.

The drop in stocks might also present investors with the opportunity to buy stocks at lower prices, said Terry Sandven, chief equity strategist for USBank.

"Clearly geopolitical risks are elevated, but it's too early to tell about the longer-term implications," Sandven said. "It's still a buy-on-the-dip equity market and the fundamental backdrop is still favorable for equities to trade higher."

The developments in the Ukraine also overshadowed some encouraging developments on the U.S. economy.

Manufacturing in the U.S. expanded at a faster pace in February as new orders and businesses boosted their stockpiles. The Institute for Supply Management, a group of purchasing managers, said Monday that its manufacturing index rose to 53.2 in February from 51.3 in January. Any reading above 50 signals growth.

Americans also spent more in January, but the increase came from a surge in spending on heating bills during the harsh winter. Spending in areas such as autos and clothing declined. Spending rose 0.4 percent in January after a 0.1 percent gain in December, the Commerce Department said Monday. The December figure was revised down from a 0.4 percent increase.

Among other stocks making big moves on Monday:

”” Lorillard, the maker of Newport cigarettes, rose $4.55, or 9.3 percent, to $53.61 after the Financial Times reported that rival RJ Reynolds, the maker of Lucky Strike and Camel cigarettes, was considering making a bid for the company.

”” Darden Restaurants, the parent company of Olive Garden, slumped $2.73, or 5.3 percent, to $48.33 after the restaurant operator said that exceptionally rough winter weather reduced earnings in its latest quarter by about 7 cents per share. Expenses related to the company's plan to split off its Red Lobster chain also hurt earnings.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	227.85	points or ▲	1.41%	on	Tuesday, 4 March 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,395.88	▲	227.85	▲	1.41%		
	Nasdaq____	4,351.97	▲	74.67	▲	1.75%		
	S&P_500___	1,873.91	▲	28.18	▲	1.53%		
	30_Yr_Bond____	3.64	▲	0.08	▲	2.28%		

NYSE Volume	 3,726,496,000 	 	 	 	 	  		 
Nasdaq Volume	 2,438,204,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,823.77	▲	115.42	▲	1.72%		
	DAX_____	9,589.15	▲	230.26	▲	2.46%		
	CAC_40__	4,395.90	▲	105.03	▲	2.45%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,411.70	▲	14.30	▲	0.26%		
	Shanghai_Comp	2,071.47	▼	-3.76	▼	-0.18%		
	Taiwan_Weight	8,554.54	▼	-47.44	▼	-0.55%		
	Nikkei_225___	14,721.48	▲	69.25	▲	0.47%		
	Hang_Seng.__	22,657.63	▲	156.96	▲	0.70%		
	Strait_Times.__	3,101.21	▲	13.74	▲	0.45%		
	NZX_50_Index_	5,033.26	▲	25.86	▲	0.52%		

http://finance.yahoo.com/news/stocks-surge-tensions-ease-ukraine-144415907.html

*Stocks surge as tensions ease in Ukraine
US stocks sharply higher as tensions ease in Ukraine; Gold, oil, bond prices fall*

By Joshua Freed, AP Business Writer

Relieved investors sent stocks sharply higher on Tuesday after Russia pulled troops back from the border of Ukraine.

The rally pushed the Standard & Poor's 500 index to an all-time high, erasing steep losses from Monday, when investors feared that the confrontation between Russia and Ukraine would escalate or even lead to a war.

Traders were relieved when Russian President Vladimir Putin ordered troops participating in military exercises near Ukraine to return to their bases.

The S&P 500 rose 28.18 points, or 1.53 percent, to close at 1,873.91. It was the biggest gain for the benchmark index since October. The Dow Jones industrial average rose 227.85 points, or 1.41 percent, to 16,395.88. The Nasdaq composite rose 74.67 points, or 1.75 percent, to 4,351.97.

As investors moved back to riskier assets, prices fell for safe-play investments like bonds and gold. Oil prices also fell as the immediate threat of economic sanctions on Russia, a major oil exporter, eased. Traders had also been worried about transportation disruptions in the Black Sea, a major transit point for oil. The yield on the 10-year Treasury note rose to 2.68 percent from 2.60 percent late Monday.

In another sign of a greater appetite for risk, the Russell 2000 index of small-company stocks set another all-time high after posting the biggest percentage gains of the major U.S. stock indexes. The Russell jumped 32.29 points, or 2.7 percent, to 1,208.65. It is now up almost 3.9 percent this year.

The two-day rout and rally was just the latest twist in a volatile year for stocks, which fell almost 6 percent just last month and have since recovered to set all-time highs in recent days.

So what is an investor supposed to do in the face of this volatility?

"I think maybe you take a powder. Maybe take some positions off the table, and you hedge yourself a little but, for the chance that if it does go the other way and there is a downturn," said Stephen J. Carl, head equity trader at The Williams Capital Group.

The conflict between Russia and Ukraine threatened to destabilize Europe and upset oil markets. And it wasn't clear which countries might be drawn into the conflict if it got worse. Wall Street hates uncertainty, and on Monday that's all there was. So investors were relieved when Putin appeared to back down on Tuesday.

"I think the reaction today is probably more hopeful than rational," said Brad McMillan, Chief Investment Officer for Commonwealth Financial. McMillan noted that Putin made his point with Ukraine just a week after the Sochi Olympics ended. Hosting the Olympics was a way for Putin to show that Russia was open for business, but the conflict with Ukraine threw that away, McMillan said.

Stock markets in Europe, including Moscow, and Asia recouped much of Monday's losses. Indexes in France and Germany each rose 2.5 percent, and the FTSE 100 in Britain rose 1.7 percent.

The gains were extraordinarily broad. Five stocks rose for every one that fell on the New York Stock Exchange. All 10 industry sectors in the S&P 500 average rose.

Among stocks making big moves:

”” RadioShack plunged 47 cents, or 17 percent, to close at $2.25 after reporting a wider quarterly loss and saying it will close as many as 1,100 stores.

”” Qualcomm rose $2.48, or 3 percent, to $76.11 after the chipmaker announced a 20 percent increase in its quarterly dividend and adding $5 billion to its stock buyback program. Buybacks generally benefit shareholders because they increase the value of remaining shares.

”” J.C. Penney Co. rose 33 cents, or 4 percent, to $8.29 after Standard & Poor's raised its outlook on the retailer's debt, saying Penney's performance "has begun to stabilize." Last week Penney posted its first gain in two years at stores open at least a year.

”” Delta Air Lines rose $1.86, or almost 6 percent, to $34.45 after reporting strong February domestic demand and passenger revenue


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-35.7	points or ▼	-0.22%	on	Wednesday, 5 March 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,360.18	▼	-35.70	▼	-0.22%		
	Nasdaq____	4,357.97	▲	6.00	▲	0.14%		
	S&P_500___	1,873.81	▼	-0.10	▼	-0.01%		
	30_Yr_Bond____	3.64	▲	0.01	▲	0.16%		

NYSE Volume	 3,352,793,750 	 	 	 	 	  		 
Nasdaq Volume	 2,153,868,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,775.42	▼	-48.35	▼	-0.71%		
	DAX_____	9,542.02	▼	-47.13	▼	-0.49%		
	CAC_40__	4,391.25	▼	-4.65	▼	-0.11%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,457.30	▲	45.60	▲	0.84%		
	Shanghai_Comp	2,053.08	▼	-18.39	▼	-0.89%		
	Taiwan_Weight	8,632.93	▲	78.39	▲	0.92%		
	Nikkei_225___	14,897.63	▲	176.15	▲	1.20%		
	Hang_Seng.__	22,579.78	▼	-77.85	▼	-0.34%		
	Strait_Times.__	3,116.64	▲	11.93	▲	0.38%		
	NZX_50_Index_	5,073.09	▲	39.83	▲	0.79%		

http://finance.yahoo.com/news/stocks-settle-down-big-swings-220146556.html

*Stocks settle down after big swings on Ukraine
Stocks settle down near record after big swings on Ukraine; Whiskey maker Brown-Forman gains*

By Steve Rothwell, AP Markets Writer

Calm returned to the stock market Wednesday after two days of volatile trading.

The Standard & Poor's 500 index traded within a range of about five points, or about a quarter of a percentage point for the whole day, before ending a fraction lower. Investors weighed a tepid hiring survey, some strong company earnings and falling oil prices.

Stocks plunged Monday, then surged to a record high on Tuesday as tensions in Ukraine flared, then eased.

"We're returning to normality," said John Manley, chief equity strategist at Wells Fargo Fund Management. "What the market now trades on is fundamentals, and the fundamentals are still good."

The S&P 500 index fell 0.10 point, or less than 0.1 percent, to 1,873.81. Its close on Tuesday of 1,873.91 was a record high.

The Dow Jones industrial average fell 35.70 points, or 0.2 percent, to 16,360.18. The Nasdaq rose six points, or 0.1 percent, to 4,357.97.

Manley expects the rally to remain intact as long as the Federal Reserve keeps up its support of the economy and companies can keep increasing their earnings.

The Fed is buying $65 billion worth of bonds every month and isn't expected to raise short-term interest rates any time soon. Company earnings are forecast to climb 8.1 percent in the fourth quarter to a record $28.49 per share for S&P 500 companies, according to S&P Capital IQ.

Energy stocks were the biggest losers Wednesday. They fell after the price of oil dropped for a second day as tensions eased in Ukraine and the threat of economic sanctions against Russia appeared to recede.

Exxon Mobil fell $2.72, or 2.8 percent, to $93.80, making it one of the biggest decliners in the S&P 500. The company said it planned to cut its capital spending by 6 percent this year and that its production will rise 2 percent.

Stocks started the day fluctuating between small gains and small losses after a tepid report on hiring. Payroll processor ADP said Wednesday that businesses added 139,000 jobs in February, up from 127,000 the month before, however January's figure was revised sharply lower from an original estimate of 175,000.

The ADP numbers cover only private businesses and often differ from the government's more comprehensive survey of the U.S. employment market. The Department of Labor releases its monthly report Friday. Economists believe the U.S. will report that employers generated 145,000 jobs in February.

Stocks have rebounded to record levels this month, despite a series of weak economic reports, as investors remain confident that the economy will strengthen once an unusually cold winter has passed.

"You would hope that there will be some pent-up demand that wasn't satisfied, whether it's consumers, or business activity that didn't get done, during these bad winter months," said Colleen Supran, a principal at San Francisco-based Bingham, Osborn & Scarborough. "Maybe that will help earnings."

Among the winning stocks on Wednesday were Brown-Forman, the maker of Jack Daniel's Whiskey, and video game retailer GameStop.

Brown-Forman rose $3.10, or 3.7 percent, to $87.11 after the company reported earnings that beat analyst's expectations. The distiller also raised its full-year earnings forecast. GameStop climbed $1.40, or 3.7 percent, to $38.75 after the company said late Thursday that it would increase its annual dividend by 20 percent to $1.32 a share.

In government bond trading, the yield on the 10-year Treasury note was unchanged at 2.70 percent. The price of oil fell $1.88, or 1.8 percent, to close at $101.45 a barrel.

Among other stocks making big moves:

”” Smith & Wesson jumped $1.94, or 16.4 percent, to $13.74 after the gun maker's quarterly results topped expectations. The company's forecast for earnings in its fourth fiscal quarter was also better than Wall Street was expecting. Gun sales surged last year in the wake of the massacre at Sandy Hook Elementary School in Newtown, Conn. and other shootings. Many gun enthusiasts went on a buying spree, fearing new laws restricting gun ownership.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	61.71	points or ▲	0.38%	on	Thursday, 6 March 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,421.89	▲	61.71	▲	0.38%		
	Nasdaq____	4,352.13	▼	-5.85	▼	-0.13%		
	S&P_500___	1,877.03	▲	3.22	▲	0.17%		
	30_Yr_Bond____	3.69	▲	0.04	▲	1.18%		

NYSE Volume	 3,337,068,000 	 	 	 	 	  		 
Nasdaq Volume	 2,110,943,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,788.49	▲	13.07	▲	0.19%		
	DAX_____	9,542.87	▲	0.85	▲	0.01%		
	CAC_40__	4,417.04	▲	25.79	▲	0.59%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,459.70	▲	2.40	▲	0.04%		
	Shanghai_Comp	2,059.58	▲	6.49	▲	0.32%		
	Taiwan_Weight	8,713.79	▲	80.86	▲	0.94%		
	Nikkei_225___	15,134.75	▲	237.12	▲	1.59%		
	Hang_Seng.__	22,702.97	▲	123.19	▲	0.55%		
	Strait_Times.__	3,129.17	▲	12.53	▲	0.40%		
	NZX_50_Index_	5,114.79	▲	41.70	▲	0.82%		

http://finance.yahoo.com/news/stocks-rise-us-job-market-214113032.html

*Stocks rise as US job market improves
Stocks mostly higher on encouraging news about US job market; S&P 500 sets another record high*

By Ken Sweet, AP Markets Writer 

Investors were looking for any reason to look past the cold weather that has hampered the U.S. economy in the last few weeks, and they found it.

Stocks mostly rose Thursday, helped by a report that showed the number of people who filed for unemployment benefits fell last week to the lowest level in three months. The gains were enough to give the Standard & Poor's 500 index its third all-time high this week.

The report on unemployment claims was one of the first bits of good news investors have gotten on the economy, following weeks of data that painted a picture of a U.S. economic recovery that was slowing down due to the severe winter weather that has hit much of the country.

"Investors are putting more weight on the data that makes sense and ignoring the data that was impacted by the harsh winter weather," said Kate Warne, a market strategist with Edward Jones.

The S&P 500 index rose 3.22 points, or 0.2 percent, to 1,877.03.

Staples fell the most of any stock in the S&P 500 after the office supplies store company said it would close 10 percent of its stores because nearly half of its sales are now generated online. The stock fell $2.05, or 15 percent, to $11.35.

Staples is the second major brick-and-mortar retailer to announce large-scale store closures this week. Two days ago RadioShack said it would close as many as 1,100 locations as part of a restructuring effort.

The Dow Jones industrial average rose 61.71 points, or 0.4 percent, to 16,421.89. The Nasdaq composite fell 5.85 points, or 0.1 percent, to 4,352.13.

The number of people who filed for unemployment benefits fell by 26,000 last week to 323,000, according to the Labor Department. That was far less than the 337,000 claims economists had expected, according to FactSet, and a sign that fewer people are being laid off.

Typically investors would not put much weight in the weekly unemployment report, because the numbers can be volatile. But with the rest of the data investors typically have at their disposal tainted by the weather, including Friday's closely watched monthly government jobs report, investors don't have much to work with at the moment.

The figures for weekly unemployment claims coming up over the next several weeks will be the freshest data investors will have, strategists said.

"We won't get a clean reading on the economy until we get through this bad weather," Krosby said.

Expectations for the February job numbers are low. Economists expect employers added 145,000 jobs last month and that the unemployment rate held steady at 6.6 percent. Before the bad winter weather hit much of the country starting in December, the U.S. economy was creating around 225,000 jobs a month.

Outside the U.S., investors remained concerned about Ukraine, where tensions have been escalating over Russia's deployment of troops to Ukraine's Crimea Peninsula.

Moscow-backed Crimean officials said Thursday that the region would hold a referendum to decide whether it should be annexed by Russia. President Barack Obama declared that the referendum would violate international law.

In other markets, bond prices fell. The yield on the 10-year U.S. Treasury note rose to 2.73 percent from 2.71 percent Wednesday. Gold rose $11.50 to $1,351.80 an ounce. Gold has risen 2 percent this week as the tensions in Ukraine escalated.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	30.83	points or ▲	0.19%	on	Friday, 7 March 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,452.72	▲	30.83	▲	0.19%		
	Nasdaq____	4,336.22	▼	-15.90	▼	-0.37%		
	S&P_500___	1,878.04	▲	1.01	▲	0.05%		
	30_Yr_Bond____	3.72	▲	0.04	▲	0.95%		

NYSE Volume	 3,562,317,750 	 	 	 	 	  		 
Nasdaq Volume	 2,138,622,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,712.67	▼	-75.82	▼	-1.12%		
	DAX_____	9,350.75	▼	-192.12	▼	-2.01%		
	CAC_40__	4,366.42	▼	-50.62	▼	-1.15%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,477.00	▲	17.30	▲	0.32%		
	Shanghai_Comp	2,057.91	▼	-1.67	▼	-0.08%		
	Taiwan_Weight	8,713.96	▲	0.17	▲	0.00%		
	Nikkei_225___	15,274.07	▲	139.32	▲	0.92%		
	Hang_Seng.__	22,660.49	▼	-42.48	▼	-0.19%		
	Strait_Times.__	3,136.26	▲	7.09	▲	0.23%		
	NZX_50_Index_	5,125.65	▲	10.86	▲	0.21%		

http://finance.yahoo.com/news/us-stocks-muddled-ukraine-tensions-214841053.html

*US stocks muddled as Ukraine tensions fester
Stocks are mixed as tensions build in Ukraine, offsetting pickup in hiring last month*

By Ken Sweet, AP Markets Writer

One positive report on the economy was not enough to make investors more confident.

The stock market ended mixed Friday after a day of muddled trading. Among the three main U.S. stock indexes, one edged higher, one closed little changed and the other closed lower.

Investors focused on the tensions in Ukraine, where the region of Crimea was preparing for a referendum on whether to split away and become part of Russia. It was enough of a reason to sell into the weekend and to offset optimism over a pickup in hiring by U.S. employers last month.

The Labor Department said companies created 175,000 jobs last month, easily topping economists' forecasts. While encouraging, investors didn't see the February report as part of a broader trend. December and January job figures were mediocre, and the harsh winter weather has closed factories, cut into auto sales, and caused existing-home sales to plummet for the last three months.

"People are hoping and praying that the recent slowness was weather-related, and while this report gave people a little bit of hope that is the case, it is still too early to tell," said Krishna Memani, chief investment officer of OppenheimerFunds.

The Standard & Poor's 500 index closed roughly flat, up a point, or 0.05 percent, to 1,878.04. The Dow Jones rose 30.83 points, or 0.2 percent, to 16,452.72 and the Nasdaq composite lost 15.90 points, or 0.4 percent, to 4,336.22.

On the whole, the overall tone of the market was slightly negative. Three stocks fell for every two that rose on the New York Stock Exchange. Of the 10 industry sectors in the S&P 500 index, six fell.

Biotechnology and health care stocks were among the biggest decliners. Biogen Idec fell roughly 4 percent and Amgen fell 2 percent. The Nasdaq composite index is more heavily weighted to biotechnology and specialty pharmaceutical companies, which is part of the reason the index fell even though the Dow and S&P 500 rose.

Bond prices fell following the release of the jobs numbers. The yield on the 10-year U.S. Treasury note rose to 2.79 percent, up from 2.74 percent on Thursday. Gold fell $13.60, or 1 percent, to $1,338.20.

As they have for much of the week, investors turned their attention overseas.

Lawmakers in Russian-occupied Crimea unanimously declared they wanted to join Russia and would put the decision to voters in 10 days. President Barack Obama and several other Western leaders have condemned the referendum.

Ukraine's economy is not large enough to cause serious damage to the global economy. But the geopolitical tensions that Russia's occupation is creating between Russia, Europe, Ukraine and the U.S. could potentially be destabilizing for the region, investors say. In particular, trade between Europe and Russia could be severely impacted.

Germany's DAX index fell 2 percent Friday, and is down nearly 4 percent this week. The Euro Stoxx 50 index, the European equivalent of the Dow Jones industrial average, fell 1.7 percent this week.

"Europe has a lot more to lose in these Russia-Ukraine tensions than the U.S.," said Andres Garcia-Amaya, a global markets strategist with J.P. Morgan Assets Management.

The geopolitical tensions could flare up at any point, Garcia-Amaya said, giving investors fewer reasons to hold positions through the weekend.

In other company news:

— The discount retail chain Big Lots soared $6.72, or 23 percent, to $35.97. Big Lots reported a decline in fourth-quarter profits but the company's sales came in much better than expected. The company also said it would shut down its struggling Canadian operations.

— Grocery store chain Safeway fell 87 cents, or 2 percent, to 38.60 after the company said private equity firm Cerberus Capital would buy the company for $9 billion.

5906


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-34.04	points or ▼	-0.21%	on	Monday, 10 March 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,418.68	▼	-34.04	▼	-0.21%		
	Nasdaq____	4,334.45	▼	-1.77	▼	-0.04%		
	S&P_500___	1,877.17	▼	-0.87	▼	-0.05%		
	30_Yr_Bond____	3.73	▲	0.01	▲	0.16%		

NYSE Volume	 3,002,648,500 	 	 	 	 	  		 
Nasdaq Volume	 2,093,200,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,689.45	▼	-23.22	▼	-0.35%		
	DAX_____	9,265.50	▼	-85.25	▼	-0.91%		
	CAC_40__	4,370.84	▲	4.42	▲	0.10%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,430.80	▼	-46.20	▼	-0.84%		
	Shanghai_Comp	1,999.06	▼	-58.84	▼	-2.86%		
	Taiwan_Weight	8,665.24	▼	-48.72	▼	-0.56%		
	Nikkei_225___	15,120.14	▼	-153.93	▼	-1.01%		
	Hang_Seng.__	22,264.93	▼	-395.56	▼	-1.75%		
	Strait_Times.__	3,121.97	▼	-14.29	▼	-0.46%		
	NZX_50_Index_	5,117.83	▼	-7.82	▼	-0.15%		

http://finance.yahoo.com/news/stocks-end-slightly-lower-china-210530058.html

*Stocks end slightly lower on China growth worries
US stock market ends lower as disappointing Chinese exports data stokes growth concerns*

By Alex Veiga, AP Business Writer 

Stocks drifted to a slightly lower finish Monday as investors sifted through a blend of discouraging economic data from China and Japan as well as ongoing uncertainty over Russia's incursion into Ukraine.

Major market indexes pared their losses as the day drew to a close, aided by some high-flying stocks, including Alexion Pharmaceuticals, Chiquita Brands International and Southwest Airlines.

In the absence of U.S. economic data, investors focused on news that China's exports slumped 18 percent in February. The report reinforced fears about the outlook for the world's second-largest economy.

In addition, Japan reported a record current account deficit for January and lowered its economic growth estimate for the October-December quarter to 0.7 percent from 1 percent.

The reports made for a downbeat start for the market as investors seized the moment to recalibrate their stock holdings.

"It was a little bit of an excuse to take some money off the table," said Ron Florance, deputy chief investment officer at Wells Fargo Private Bank. "We have geopolitical uncertainty, so (it's) a good excuse to re-evaluate your risk exposure. It's going to be par for the course for this year."

The Standard & Poor's 500 index edged down 0.87 of a point to close at 1,877.17. It had been down 11 points earlier.

The Dow Jones industrial average lost 34.04 points, or 0.2 percent, to 16,418.68. The Nasdaq composite fell 1.77 points, or less than 0.1 percent, to 4,334.45.

The three major U.S. indexes are still up for the month, and only the Dow is down for the year. The S&P 500 ended Monday up 1.6 percent for the year, while the Nasdaq finished up 3.8 percent.

The downbeat economic report from China hurt several industry sectors heavily reliant on Chinese economic growth, in particular, materials, energy and industrials. Six of the 10 sectors of the S&P 500 index ended lower, led by industrials. Mining company Cliffs Natural Resources was among the biggest decliners in the S&P 500, shedding 70 cents, or 3.8 percent to $17.95.

"The market is growing more pessimistic around growth in China," said David Chalupnik, head of equities for Nuveen Asset Management. "Expectations have been coming down, but the numbers have been disappointing even those reduced expectations."

Despite the disappointing data from China, some market watchers anticipate that last week's gains will continue.

The S&P 500 index notched record highs three times last week as investors grew more confident that weak U.S. economic reports in recent weeks were a reflection of unusually severe winter weather, not a broad economic slowdown. Better-than-expected payroll numbers last week also helped encourage investors.

"In general, I think the market will move past the poor China export numbers fairly quickly," said James Liu, global market strategist at J.P. Morgan Funds. "There's still a lot of fundamental support for the S&P at this particular range."

Chalupnik also anticipates Monday's decline isn't telling of the market's trajectory for the week ahead, barring more fallout from Russia's deployment of troops in Ukraine.

"My guess is the market moves ever so slightly higher this week," he said. "The trend is still up. We really haven't seen anything to break that trend."

Monday marked the fifth anniversary of the current bull market in stocks. The S&P 500 index bottomed out on March 9, 2009, and is up about 177 percent since then. The run-up over the past five years has been helped by stimulus from the Federal Reserve, record corporate profits, the economic recovery and companies repurchasing their own stock.

This is a light week for market-moving economic data and corporate earnings. But investors will be watching the latest data on retail sales, due out Thursday, and a gauge of consumer confidence due out Friday.

"Those two sets of numbers will really tell us where the consumer is and whether or not the consumer will head out and spend when the weather warms up," Liu said.

Among the stocks bucking the slight downward turn Monday was Alexion Pharmaceuticals.

The company climbed the most of any stock in the S&P 500 index, vaulting $11.95, or 7.1 percent, to $180. The company raised its 2014 earnings forecast, saying the national health agency of France will reimburse it for past sales of its drug Soliris.

Chiquita was another gainer. It agreed to combine with Dublin-based Fyffes to become the world's top banana company. The stock-for-stock transaction announced Monday creates a global banana and fresh produce company with $4.6 billion in annual revenue. Chiquita rose $1.16, or 10.7 percent, to $12.

Southwest Airlines' stock touched a 52-week high of $23.67 early in the day before ending up 50 cents, or 2.2 percent, to $23.60. The carrier got a boost after it reported that passengers are flying more miles, a trend that helped send a key revenue figure higher last month.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-67.43	points or ▼	-0.41%	on	Tuesday, 11 March 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,351.25	▼	-67.43	▼	-0.41%		
	Nasdaq____	4,307.19	▼	-27.26	▼	-0.63%		
	S&P_500___	1,867.63	▼	-9.54	▼	-0.51%		
	30_Yr_Bond____	3.71	▼	-0.02	▼	-0.51%		

NYSE Volume	 3,365,968,250 	 	 	 	 	  		 
Nasdaq Volume	 2,452,951,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,678.06	▼	-11.39	▼	-0.17%		
	DAX_____	9,307.79	▲	42.29	▲	0.46%		
	CAC_40__	4,349.72	▼	-21.12	▼	-0.48%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,429.30	▼	-1.50	▼	-0.03%		
	Shanghai_Comp	2,001.16	▲	2.09	▲	0.10%		
	Taiwan_Weight	8,702.33	▲	37.09	▲	0.43%		
	Nikkei_225___	15,224.11	▲	103.97	▲	0.69%		
	Hang_Seng.__	22,269.61	▲	4.68	▲	0.02%		
	Strait_Times.__	3,129.40	▲	2.77	▲	0.09%		
	NZX_50_Index_	5,101.94	▼	-15.90	▼	-0.31%		

http://finance.yahoo.com/news/us-stocks-end-slightly-lower-211801252.html

*US stocks end slightly lower for a second day
Thin slate of economic news keeps stocks in the red, investors focused on company headlines*

By Alex Veiga, AP Business Writer

Without any big economic news or blowout company earnings to respond to, investors found little to get excited about Tuesday and sent the stock market lower for the second day in a row.

A few companies grabbed headlines for posting poor quarterly results or consummating long-running merger talks Tuesday. But the broader market barely budged for much of the day, then closed slightly lower. Investors didn't see enough that they liked to drive up a market that hit three record highs last week.

"It's a market that is looking for some direction overall," said J.J. Kinahan, chief strategist with TD Ameritrade. "We've had such a nice run, I think you're seeing people take some profits."

The Standard & Poor's 500 index slipped 9.54 points, or 0.5 percent, to close at 1,867.63. The Dow Jones industrial average lost 67.43 points, or 0.4 percent, to 16,351.25. The Nasdaq composite fell 27.26 points, or 0.6 percent, to 4,307.19.

The S&P 500 and the Nasdaq are both up for the year, though they lost some ground from the start of the week. The S&P 500 is up 1 percent, while the Nasdaq is up 3.1 percent. The Dow is down 1.4 percent so far this year.

General Motors, Men's Wearhouse and American Eagle Outfitters were among the stocks in focus Tuesday.

GM dropped $1.91, or 5.1 percent, to $35.18 on news that a congressional committee is investigating the way the automaker and a federal safety agency handled a deadly ignition switch problem in compact cars.

The stocks of teen retailers American Eagle Outfitters and Urban Outfitters took a beating.

American Eagle tumbled $1.11, or 7.8 percent, to $13.10 after the store chain issued a fiscal first-quarter outlook that fell short of Wall Street's expectations. The company also reported an 89 percent slide in its fourth-quarter net income as winter storms weighed on sales.

Urban Outfitters fell $1.60, or 4.3 percent, to $35.91 after reporting its own results.

Investors cheered word that Men's Wearhouse agreed to buy Jos. A. Bank for $1.8 billion after months of on-again, off-again talks. Men's Wearhouse rose $2.57, or 4.7 percent, to $57.14. Jos. A. Bank climbed $2.39, or 3.9 percent, to $64.22.

The declines were broad. Nine of the 10 sectors in the S&P 500 index fell, led by energy stocks. The one sector that rose, consumer staples, eked out a gain of just 0.01 percent. Stocks of those companies, which make consumer staple goods like soft drinks and detergents, tend to be in favor when investors are feeling cautious and want low-risk investments that produce steady income. Among consumer staples companies, PepsiCo rose $1.08, or 1.3 percent, to $82.81.

McDonald's had the biggest gain among companies in the S&P 500 index, rising $3.58, or 3.8 percent, to $98.78. The stock is rebounding after slumping a day earlier.

Some other companies also mounted comebacks.

J.C. Penney rose 25 cents, or 3 percent, to $8.67 after analysts at Citigroup upgraded the department store chain, praising the retailer's efforts to recover from a botched overhaul that alienated longtime customers.

The Labor Department said Tuesday that employers posted 3.9 million job openings in January, up 1.5 percent from December, a sign that hiring should remain steady in coming months. However, the increase fell short of what the market was expecting.

Investors are watching for any signs the job market is strengthening as they try to gauge how the Federal Reserve will manage its economic stimulus efforts. The central bank is expected to continue paring its bond purchases, which are aimed at keeping long-term loan rates low and encouraging borrowing and investing. But if economic data signal that the economy is weakening, the Fed could opt to keep the stimulus spigot open. The Fed holds its next policy meeting next week.

"The most important data really is the jobs data," said David Roda, regional chief investment officer at Wells Fargo Private Bank. "We think that's going to be a major driver of Fed policy response."


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-11.17	points or ▼	-0.07%	on	Wednesday, 12 March 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,340.08	▼	-11.17	▼	-0.07%		
	Nasdaq____	4,323.33	▲	16.14	▲	0.37%		
	S&P_500___	1,868.20	▲	0.57	▲	0.03%		
	30_Yr_Bond____	3.67	▼	-0.04	▼	-1.13%		

NYSE Volume	 3,245,204,250 	 	 	 	 	  		 
Nasdaq Volume	 2,100,534,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,620.90	▼	-64.62	▼	-0.97%		
	DAX_____	9,188.69	▼	-119.10	▼	-1.28%		
	CAC_40__	4,306.26	▼	-43.46	▼	-1.00%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,400.50	▼	-28.80	▼	-0.53%		
	Shanghai_Comp	1,997.69	▼	-3.47	▼	-0.17%		
	Taiwan_Weight	8,684.73	▼	-17.60	▼	-0.20%		
	Nikkei_225___	14,830.39	▼	-393.72	▼	-2.59%		
	Hang_Seng.__	21,901.95	▼	-367.66	▼	-1.65%		
	Strait_Times.__	3,097.43	▼	-31.97	▼	-1.02%		
	NZX_50_Index_	5,096.53	▼	-5.41	▼	-0.11%		

http://finance.yahoo.com/news/us-stocks-finish-mostly-higher-212312067.html

*US stocks finish mostly higher after a weak start
US stocks shake off listless start to finish mostly higher, led by oil refiners, tech firms*

By Alex Veiga, AP Business Writer

For much of Wednesday, the U.S. stock market appeared to be headed for its third decline in three days.

By late afternoon, the market began to slowly pare its losses as investors bought up oil refiners, mining companies and technology stocks.

The push was enough to nudge the Standard & Poor's 500 index into the green by half a point. The tech-heavy Nasdaq composite also finished higher.

The S&P 500 index added 0.57 points, or 0.03 percent, to close at 1,868.20. The Dow Jones industrial average lost 11.17 points, or 0.1 percent, to 16,340.08.

The Nasdaq composite rebounded in the early afternoon, gaining 16.14 points, or 0.4 percent, to 4,323.33.

The three major U.S. stock indexes are still down for the week. Stocks had a strong finish last week, setting three record highs.

Investors have been worried this week about a sharp drop in China's exports in February reported over the weekend, which raised concerns that the world's second-largest economy is slowing. Since China is a big consumer of raw materials and energy, commodities such as copper and iron ore have dropped sharply. Copper has fallen to its lowest level since 2010, but recovered somewhat Wednesday.

A dearth of major U.S. economic news helped dampen trading Wednesday, leaving the market listless.

"When markets reach these kind of new highs very often they have to digest those gains, which is what they're doing," said Quincy Krosby, a market strategist with Prudential Financial. "They need to adjust the gains and then wait for the next catalyst to move higher."

That could come Thursday, when new data on retail sales and weekly unemployment benefit applications are released. On Friday, a survey of consumer confidence should give traders a better sense of how Americans feel about the economy.

The state of China's economy is sure to continue to be a focus, however.

"We've been seeing these periodic, occasional weak data points come out of China," said Randy Frederick, managing director of trading and derivatives at the Schwab Center for Financial Research. "And each time that happens when our markets are at ... record highs, they're going to be very sensitive to any sort of negative news and there'll be days of profit-taking."

While China growth concerns appeared to hurt oil prices Wednesday, it didn't stop investors from buying up oil refiners.

Tesoro Corp. rose the most of any stock in the S&P 500 index, climbing $2.13, or 4.1 percent, to $54.50. Marathon Petroleum Corp., added $3.21, or 3.5 percent, to $94.50, while Valero Energy Corp., gained $1.62, or 3 percent, to $55.29.

Investors also took a shine to mining companies as metals prices increased. Cliffs Natural Resources Inc. rose 43 cents, or 2.4 percent, to $18.41 and Newmont Mining Corp. rose 66 cents, or 2.7 percent, to $25.01.

Tech giants Google, Microsoft and Facebook also contributed to the day's gains. Together they make up about 12 percent of the Nasdaq composite. Google rose $7.31, or 0.6 percent, to $1,207.30; Microsoft added 25 cents, or 0.7 percent, to $38.27 and Facebook climbed 78 cents, or 1.1 percent, to $70.88.

Six of the 10 industry sectors in the S&P 500 index notched small declines, with industrials posting the biggest drop. Utilities paced other gainers, as investors moved money into the relatively low-risk sector.

Among the S&P 500 index's big decliners were insurer Progressive, which shed 94 cents, or 3.8 percent, to $23.58, and ADT, which fell 98 cents, or 3.3 percent, to $28.75.

Most of the publicly traded homebuilding companies were trading lower after Credit Suisse issued a broad downgrade on the sector. In addition, new data from the Mortgage Bankers Association showed home loan applications fell 2.1 percent from a week earlier. Meritage Homes posted the biggest drop among the decliners, shedding 85 cents, or 2 percent, to $44.21.

Herbalife fell $4.82, or 7.4 percent, to $60.57 after the nutrition and supplement maker disclosed that it is facing an inquiry from the Federal Trade Commission. The company made the announcement a day after hedge fund manager William Ackman renewed his attacks on the company. Ackman repeatedly has bet against the company and says he believes it operates as a pyramid scheme.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-231.19	points or ▼	-1.41%	on	Thursday, 13 March 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,108.89	▼	-231.19	▼	-1.41%		
	Nasdaq____	4,260.42	▼	-62.91	▼	-1.46%		
	S&P_500___	1,846.34	▼	-21.86	▼	-1.17%		
	30_Yr_Bond____	3.60	▼	-0.07	▼	-1.80%		

NYSE Volume	 3,647,189,750 	 	 	 	 	  		 
Nasdaq Volume	 2,326,135,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,553.78	▼	-67.12	▼	-1.01%		
	DAX_____	9,017.79	▼	-170.90	▼	-1.86%		
	CAC_40__	4,250.51	▼	-55.75	▼	-1.29%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,429.10	▲	28.60	▲	0.53%		
	Shanghai_Comp	2,019.11	▲	21.42	▲	1.07%		
	Taiwan_Weight	8,747.79	▲	63.06	▲	0.73%		
	Nikkei_225___	14,830.39	▼	-393.72	▼	-2.59%		
	Hang_Seng.__	14,815.98	▼	-14.41	▼	-0.10%		
	Strait_Times.__	21,756.08	▼	-145.87	▼	-0.67%		
	NZX_50_Index_	3,081.39	▼	-16.04	▼	-0.52%		

http://finance.yahoo.com/news/dow-posts-fourth-loss-row-210729977.html

*Dow posts fourth loss in a row as US stocks slide
US stocks slide as rhetoric over Ukraine intensifies; Dow posts its fourth straight loss*
Associated Press
By Alex Veiga, AP Business Writer

The Dow Jones industrial average fell more than 200 points Thursday, its biggest decline in six weeks.

The pullback came as investors reacted to discouraging economic reports from China and intensifying tensions in Ukraine.

It was the worst day for the market in six weeks and the fourth loss in a row for the Dow. The plunge was a sharp contrast to the relatively quiet trading earlier in the week following a record-setting run last week.

Stocks started the day trading slightly higher following news of a pickup in U.S. retail sales last month, but the gains didn't last.

"The data out of China has been weak. The retail sector in America seems to be a total disaster. It's enough, combined with what's going on in Ukraine, to get people a little bit nervous and sell," said Ian Winer, director of trading at Wedbush Securities.

The Dow Jones industrial average slid 231.19 points, or 1.4 percent, to 16,108.89. The S&P 500 index fell 21.86 points, or 1.2 percent, to close at 1,846.34. The Nasdaq composite dropped 62.91 points, or 1.5 percent, to 4,260.42.

The last time the market had a bigger decline was Feb. 3, when the Dow sank 326 points, or 2.1 percent.

Thursday's slide erased the S&P 500 index's gains for the year and extended the Dow's year-to-date loss to 2.8 percent. The Nasdaq is still up 2 percent so far this year.

Stocks that fell outnumbered those that rose more than two to one.

Bond prices rose as traders sought safety. The yield on the 10-year Treasury note declined to 2.65 percent from 2.73 percent a day earlier as bond prices rose.

Nine of the 10 sectors in the S&P 500 index fell. Information technology lost the most. Utilities bucked the trend, rising 0.9 percent. Investors tend to buy those stocks when they want to reduce risk and hold stable companies that pay steady dividends.

Concerns over China worsened Thursday after government figures there showed industrial production rose in the first two months of the year at a rate that was lower than analysts were expecting. Retail sales growth also fell short of estimates.

"At this stage, investors are linking these negative data points coming out of China and they don't like what they see," said Lawrence Creatura, a portfolio manager at Federated Investors. "Even small hiccups there can have large implications for investors."

The market jitters intensified later in the morning, when President Barack Obama issued remarks after meeting with Ukraine's new prime minister at the White House.

Obama said that if Russia continues an aggressive path in Ukraine, the United States and other countries will be "forced to apply costs" to Moscow.

Citizens in the Ukrainian region of Crimea are set to vote on joining Russia on Sunday. The U.S. and European Union say the referendum violates Ukraine's constitution and international law. Russia has said it will respect the results.

Secretary of State John Kerry told a Senate committee on Thursday that Moscow should expect the U.S. and Europe to take measures against it should Russia act on a vote by Crimea to join Russia.

"The hardening of the rhetoric in these communications is a change," Creatura said.

Winer said that investors weren't panicked.

"The selling is pretty complacent," he said. "This is more about how people are positioned in the market."

Several companies that provide oil and gas offshore drilling services fell Thursday.

Diamond Offshore Drilling fell $1.99, or 4.3 percent, to $44.39, while Noble Corp. shed $1.38, or 4.5 percent, to $28.98. Transocean lost $1.25, or 3.1 percent, to $39.54, and National Oilwell Varco slid $2.13, or 2.8 percent, to $75.18.

Investors received some encouraging news on the U.S. employment picture.

The government reported that applications for unemployment benefits dropped 9,000 last week to 315,000. Applications are a rough proxy for layoffs. The declines indicate companies are confident enough about the economy to keep their staffs.

A separate government report showed U.S. retail sales rose 0.3 percent in February as Americans spent more on autos, clothing and furniture.

Spending had fallen 0.6 percent in January. The increase suggests that spending has started to recover after being tempered by snowstorms and freezing temperatures that blanketed much of the country.

Among the stocks that posted gains was Plug Power Inc. The alternative energy company reported revenue jumped to $8 million as it lined up some big clients. The news sent the stock vaulting up $1.20, or 17.6 percent, to $8. The stock has been soaring in recent weeks, and traded below 50 cents a share as recently as Nov. 6.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-43.22	points or ▼	-0.27%	on	Friday, 14 March 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,065.67	▼	-43.22	▼	-0.27%		
	Nasdaq____	4,245.40	▼	-15.02	▼	-0.35%		
	S&P_500___	1,841.13	▼	-5.21	▼	-0.28%		
	30_Yr_Bond____	3.59	▼	-0.01	▼	-0.39%		

NYSE Volume	 3,282,078,000 	 	 	 	 	  		 
Nasdaq Volume	 2,153,160,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,527.89	▼	-25.89	▼	-0.40%		
	DAX_____	9,056.41	▲	38.62	▲	0.43%		
	CAC_40__	4,216.37	▼	-34.14	▼	-0.80%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,347.10	▼	-82.00	▼	-1.51%		
	Shanghai_Comp	2,004.34	▼	-14.77	▼	-0.73%		
	Taiwan_Weight	8,687.63	▼	-60.16	▼	-0.69%		
	Nikkei_225___	14,327.66	▼	-488.32	▼	-3.30%		
	Hang_Seng.__	21,539.49	▼	-216.59	▼	-1.00%		
	Strait_Times.__	3,073.72	▼	-7.67	▼	-0.25%		
	NZX_50_Index_	5,079.32	▼	-32.66	▼	-0.64%		

http://finance.yahoo.com/news/stocks-end-lower-ahead-critical-201843645.html

*Stocks end lower ahead of critical Ukraine vote
US stocks end lower as investors weight tensions between the West and Russia over Ukraine*
Associated Press
By Alex Veiga, AP Business Writer 

Stock investors started the week worrying about China. They ended it waiting on Russia.

Investors spent much of Friday monitoring developments in the Ukraine's region of Crimea, where residents will vote Sunday on whether to secede to Russia. The U.S. and European Union have vowed to impose sanctions on Russia as early as Monday if Moscow moves to annex Crimea.

The uncertainty mostly stalled major stock indexes, which moved between small gains and losses through much of the day. Many investors took a cautious approach, turning to lower-risk stocks like utilities.

All told, the Dow Jones industrial average slid 43.22 points, or 0.3 percent, to end at 16,065.67. The Standard & Poor's 500 index fell 5.21 points, or 0.3 percent, to close at 1,841.13. The Nasdaq composite dropped 15.02 points, or 0.4 percent, to finish at 4,245.40.

Even so, the S&P 500 index ended the week down less than 2 percent from a record high reached the previous Friday. And it remains just slightly in the red for the year.

"The market is still pretty close to all-time highs. I think that speaks volumes," said Karyn Cavanaugh, a senior market strategist with ING U.S. Investment Management. "The market hasn't been rattled severely by what's been going on this week, therefore I think next week I'd probably expect a similar reaction."

In government bond trading, the yield on the 10-year Treasury note was little changed from late Thursday at 2.65 percent.

Despite the Dow posting its fifth loss in five days, the market regained some of its footing from a day earlier, when the three major indexes lost more than 1 percent — the worst day for the market in six weeks. Thursday's decline was a sharp contrast to the relatively quiet trading Monday through Wednesday.

Discussions between U.S. Secretary of State John Kerry and Russia Foreign Minister Sergei Lavrov Friday set the mood heading into the weekend. Despite six hours of talks, the two sides had "no common vision," for the crisis in Ukraine, Lavrov said.

He told reporters that Russia has no plans to invade southeastern Ukraine.

But if Crimea secedes, the U.S. and European Union plan to slap sanctions on Russian officials and businesses accused of escalating the crisis and undermining Ukraine's new government.

The impact of sanctions on Russia would likely affect the energy sector and oil in particular, said Jonathan Corpina, senior managing partner at Median Equity Partners.

"Any sanctions, if they get to that level, are going to have a major effect in all areas," he said.

Russia is the world's eighth largest economy. Its oil and gas exports make up roughly a quarter of its GDP.

Escalating tension in Ukraine is the latest development in a volatile year for the stock market. Severe winter weather has hurt corporate earnings and stoked doubts about the strength of the U.S. economy. Concerns over emerging markets battered stocks at the end of January. And in recent weeks, discouraging data on the Chinese economy have added to investors' concerns.

That's a stark shift from last year, when the market enjoyed a surge of 30 percent and slightly more, if dividends are included.

"The ride this year will be bumpier than last year," said Jim Dunigan, managing executive of investments at The PNC Financial Services Group. "Coming off a market of plus 32 percent last year, it's not surprising the difficulty to gain any traction here."

Still, Cavanaugh of ING U.S. Investment Management, said investors know that fundamentals are "solid."

She noted that corporate earnings are good at 8.5 percent growth in the fourth quarter versus a year earlier.

Beyond the action in Ukraine, investors also will have a dose of U.S. housing data and an update from Fed Chair Janet Yellen in the mix next week. Fed policymakers are expected to continue scaling back the central bank's stimulus.

On Friday several stocks posted gains.

Keurig jumped $7.09, or nearly 7 percent, to $113.25 after Starbucks said Friday that it has agreed to give up its right to be the only provider of premium coffee for Keurig's coffee brewing machines. That opens the door for Keurig to offer other high-quality coffee brands in single-serving packages.

Ulta Salon, Cosmetics & Fragrances vaulted $5.75, or 6.4 percent, to $95.26. The beauty products retailer reported a nearly 10 percent increase in its fourth-quarter profit thanks to improved sales.

Among the decliners was retailer Aeropostale, which fell $1.47, or 20 percent, to $5.83 after reporting a wider loss late Thursday. The operator of clothing stores for teenagers also warned of tough times ahead.

6675


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	181.55	points or ▲	1.13%	on	Monday, 17 March 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,247.22	▲	181.55	▲	1.13%		
	Nasdaq____	4,279.95	▲	34.55	▲	0.81%		
	S&P_500___	1,858.83	▲	17.70	▲	0.96%		
	30_Yr_Bond____	3.63	▲	0.04	▲	1.20%		

NYSE Volume	 2,844,093,000 	 	 	 	 	  		 
Nasdaq Volume	 1,785,853,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,568.35	▲	40.46	▲	0.62%		
	DAX_____	9,180.89	▲	124.48	▲	1.37%		
	CAC_40__	4,271.96	▲	55.59	▲	1.32%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,335.20	▼	-11.90	▼	-0.22%		
	Shanghai_Comp	2,023.67	▲	19.33	▲	0.96%		
	Taiwan_Weight	8,700.10	▲	12.47	▲	0.14%		
	Nikkei_225___	14,277.67	▼	-49.99	▼	-0.35%		
	Hang_Seng.__	21,473.95	▼	-65.54	▼	-0.30%		
	Strait_Times.__	3,092.14	▲	18.42	▲	0.60%		
	NZX_50_Index_	5,088.03	▲	8.70	▲	0.17%		

http://finance.yahoo.com/news/us-stocks-jump-worries-over-173349866.html
*
US stocks jump as worries over Crimea vote fade
Stocks bounce back from a three-week low as factory output surges; Hertz up on spinoff report*
Associated Press
By Ken Sweet, AP Markets Writer

 Investors were able to put aside the ongoing political turmoil in Ukraine on Monday to focus on a bit of good news on the U.S. economy.

Stocks ended sharply higher, helped by a report that showed factory output rebounded last month.

The Dow Jones industrial average added 181.55 points, or 1.1 percent, to 16,247.22. The Standard & Poor's 500 index rose 17.70 points, or 1 percent, to 1,858.83 and the Nasdaq composite rose 34.55 points, or 0.8 percent, to 4,279.95.

The market's gains were broad. All 30 members of the Dow and all 10 industry groups of the S&P 500 rose.

Technology stocks were among the biggest gainers, led by Yahoo, which rose 4 percent. Yahoo owns a quarter of the Chinese e-commerce website AliBaba, which announced plans to go public in the U.S. While relatively unknown in the U.S., AliBaba is one of the world's most-trafficked websites in the world's second-largest economy. Yahoo rose $1.51 to $39.11.

Other tech stocks also rose, including Microsoft, Google and Amazon.

Monday's advance comes after stocks spent much of last week in retreat. The major indexes fell roughly 2 percent, their worst week since January, on concerns that the tensions between Ukraine and Russia could boil over. Those tensions are no closer to being resolved, but so far armed conflict does not appear to be in the cards.

Crimeans overwhelmingly voted Sunday in favor of Crimea breaking away from Ukraine to return to Russia. While destabilizing to Ukraine, the results were what investors and international observers widely expected. More importantly, the controversial vote, while widely considered illegitimate by the international community, happened without any major violence.

"Russia got what it wanted without having to take Crimea by force," said Sam Stovall, chief equity strategist with S&P Capital IQ.

Both the White House and the European Union announced sanctions and visa restrictions against several Russian officials as a result of the referendum. The U.S. imposed sanctions on seven Russian government officials as well as four Ukrainians, including former Ukrainian President Viktor Yanukovych. The EU slapped travel bans and asset freezes on 21 people from Russia and Crimea.

With the Crimean vote behind them, U.S. investors exited their traditional safe havens to return to riskier parts of the market. Bond prices fell, pushing the yield of 10-year Treasury note up to 2.70 percent from 2.66 percent Friday. The price of gold fell modestly.

Utilities, a popular industry sector in times of uncertainty, rose less than the rest of the market. The Dow Jones Utility Average, which tracks the performance of 15 utility companies, rose 0.7 percent on Monday versus the S&P 500's 1 percent gain.

Back in the U.S., investors got a dose of good news on economy.

The Federal Reserve said factory output rebounded in February after harsh winter storms caused a steep drop-off in January. Manufacturers produced more autos, home electronics and chemicals. The 0.6 percent rise was triple the increase that economists had expected.

"It's another small piece of evidence that the economy is beginning to thaw from the winter," said Jack Ablin, chief investment officer at BMO Private Bank, which oversees $66 billion in assets.

The Federal Reserve will hold a two-day policy meeting starting Tuesday. Investors expect the central bank to pull back further on its bond-buying economic stimulus program, as it has done for the last two meetings. The Fed will announce its decision Wednesday.

In corporate news:

”” Sears Holdings rose 83 cents, or 2 percent, to $44.84 after announcing that it planned to split off its Lands' End business.

”” Rental car company Hertz Global rose $1.24, or 5 percent, to $27.22 on reports that the company was looking to sell its construction equipment rental business.

In currency trading, the dollar rose to 6.177 Chinese yuan, up 0.4 percent from late Friday ”” a sharp move for one currency on a single day. The yuan has reversed course recently after strengthening steadily for years. Analysts believe China's central bank is guiding the exchange rate lower against the dollar in an effort to discourage speculators from moving money into the country to profit from the yuan's rise.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	88.97	points or ▲	0.55%	on	Tuesday, 18 March 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,336.19	▲	88.97	▲	0.55%		
	Nasdaq____	4,333.31	▲	53.36	▲	1.25%		
	S&P_500___	1,872.25	▲	13.42	▲	0.72%		
	30_Yr_Bond____	3.63	▲	0.00	▼	-0.08%		

NYSE Volume	 2,906,063,000 	 	 	 	 	  		 
Nasdaq Volume	 1,929,526,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,605.28	▲	36.93	▲	0.56%		
	DAX_____	9,242.55	▲	61.66	▲	0.67%		
	CAC_40__	4,313.26	▲	41.30	▲	0.97%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,360.20	▲	25.00	▲	0.47%		
	Shanghai_Comp	2,025.20	▲	1.52	▲	0.08%		
	Taiwan_Weight	8,731.94	▲	31.84	▲	0.37%		
	Nikkei_225___	14,411.27	▲	133.60	▲	0.94%		
	Hang_Seng.__	21,583.50	▲	109.55	▲	0.51%		
	Strait_Times.__	3,093.84	▲	1.70	▲	0.05%		
	NZX_50_Index_	5,135.66	▲	47.64	▲	0.94%		

http://finance.yahoo.com/news/stocks-gain-reports-housing-ukraine-185648999.html

*Stocks gain after reports on housing, Ukraine
Stocks rise after encouraging reports on housing, Ukraine; Microsoft jumps*
Associated Press
By Steve Rothwell and Matt Craft, AP Markets Writers

 Encouraging news on the economy gave the stock market a boost on Tuesday.

Stocks also rose on expectations that the conflict between Russia and the West wouldn't escalate further. Russia's President Vladimir Putin is preparing to complete the annexation of the Black Sea peninsula of Crimea, but he said Tuesday that he won't take over other areas of Ukraine.

The stock market is recovering this week after logging its biggest weekly drop in almost two months. The S&P 500 has gained 1.7 percent this week after dropping almost 2 percent last week on concerns about slowing growth in China and tensions between Russia and the West over Ukraine.

The annexation of Crimea "is a horrible thing for the world in the long term," said Uri Landesman, president of Platinum Partners. "But the market doesn't want unrest."

The Standard & Poor's 500 index rose 13.42 points, or 0.7 percent, to 1,872.25. The Dow Jones industrial average rose 88.97 points, or 0.6 percent, to 16,336.19. The Nasdaq composite climbed 53.36 points, or 1.3 percent, to 4,333.31.

The stock market also got a boost from two technology companies.

Microsoft jumped after Reuters reported that CEO Satya Nadella plans to use his first big press event March 27 to unveil an iPad version of the company's Office software suite. Analysts regard this as a first step for Nadella in repositioning Microsoft as a company that focuses on mobile devices rather than the shrinking market for personal computers.

The company's stock climbed $1.50, or 3.9 percent, to $39.55, its highest level since July, 2000.

Hewlett-Packard rose $1.08, or 3.7 percent, to $30.56 after analysts at Barclays upgraded their outlook on the hardware company and raised their price target on the stock to $38 from $33. They expect HP to return more cash to shareholders and gain market share in the server business from rivals in coming months.

Stocks opened higher after Putin told the Russian Parliament not to believe those who say that the country will look to take over other areas of Ukraine.

The stock market also got a lift from a report that showed inflation remains tame, despite a big rise in the cost of food.

The consumer price index rose 0.1 percent in February, matching January's increase, the Labor Department said Tuesday. In the past 12 months, prices have risen just 1.1 percent, the smallest yearly gain in five months.

That means that the Federal Reserve can continue to provide stimulus to the economy and focus on reducing unemployment and boosting economic growth without having to worry that its policies are stoking inflation.

Fed policymakers started their second meeting of the year on Tuesday. The meeting will end Wednesday and be followed by an early afternoon press conference by Fed Chair Janet Chairman. Most analysts expect the Fed to continue to reduce its economic stimulus by cutting back on its bond purchases. The Fed is currently buying $65 billion of bonds a month to hold down long term interest rates.

Investors were also encouraged by a government report on home building.

While construction of homes fell for a third month in February, the report also showed that applications for building permits reached the highest level in four months. That raised expectations that economic growth would improve in the spring after an unusually cold winter slowed down the pace of home building, said Joe Quinlan, chief market strategist for U.S. Trust.

"Many people in the market fell that were going to get a spring rebound, or snap back, from a sluggish first quarter," said Quinlan.

Home builders rose after the report was released.

Beazer Homes USA rose 52 cents, or 2.6 percent, to $20.57 and Ryland Group rose $1.23, or 3.1 percent, to $41.40. D.R. Horton, PulteGroup and Lennar also rose.

In government bond trading, the yield on the 10-year Treasury note fell to 2.67 percent from 2.69 percent. The price of oil rose $1.62, or 1.7 percent, to $99.70 a barrel. Gold fell $13.90, or 1 percent, to settle at $1,359 an ounce.

Among other stocks making big moves;

”” Nasdaq OMX Group and IntercontinentalExchange Group slid following news that the New York Attorney General, Eric Schneiderman, was taking a closer look at services offered by stock exchanges to high-frequency traders. Schneiderman said that when exchanges allow trading firms to put their computers within the exchanges' data centers, it gives these firms an unfair advantage. Nasdaq OMX lost $1.23, or 3.1 percent, to $38.50. ICE lost $3.22, or 1.5 percent, to $205.94.

”” GameStop fell $1.36, or 3.4 percent, to $38.39 after Wal-Mart said it plans to let video game owners trade in used games in Wal-Mart and Sam's Club stores in exchange for store credit. Previously they offered trade-ins on a more limited basis online.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-114.02	points or ▼	-0.70%	on	Wednesday, 19 March 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,222.17	▼	-114.02	▼	-0.70%		
	Nasdaq____	4,307.60	▼	-25.71	▼	-0.59%		
	S&P_500___	1,860.77	▼	-11.48	▼	-0.61%		
	30_Yr_Bond____	3.67	▲	0.04	▲	1.19%		

NYSE Volume	 3,259,634,000 	 	 	 	 	  		 
Nasdaq Volume	 1,960,355,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,576.22	▼	-29.06	▼	-0.44%		
	DAX_____	9,277.05	▲	34.50	▲	0.37%		
	CAC_40__	4,308.06	▼	-5.20	▼	-0.12%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,373.00	▲	12.80	▲	0.24%		
	Shanghai_Comp	2,021.73	▼	-3.46	▼	-0.17%		
	Taiwan_Weight	8,689.46	▼	-42.48	▼	-0.49%		
	Nikkei_225___	14,462.52	▲	51.25	▲	0.36%		
	Hang_Seng.__	21,568.69	▼	-14.81	▼	-0.07%		
	Strait_Times.__	3,080.75	▼	-13.09	▼	-0.42%		
	NZX_50_Index_	5,154.71	▲	19.05	▲	0.37%		

http://finance.yahoo.com/news/higher-interest-rates-talk-spooks-210025772.html

*Higher interest rates talk spooks stocks
Stocks end lower on talk of higher interest rates; KB Home lifts homebuilders*
Associated Press
By Ken Sweet, AP Markets Writer

Higher interest rates are coming. And they are coming sooner than you think.

That's the message investors took away from the Federal Reserve on Wednesday. In response, they sent stocks and gold prices lower and bond yields sharply higher.

The Dow Jones industrial average lost 114.02 points, or 0.7 percent, to 16,222.17. The Dow fell as much as 209 points before erasing some of its loss.

The Standard & Poor's 500 index dropped 11.48 points, or 0.6 percent, to 1,860.77 and the Nasdaq composite lost 25.71 points, or 0.6 percent, to 4,307.60.

The Fed voted to cut its monthly bond purchases from $65 billion to $55 billion, in line with what analysts were expecting. Despite severe winter weather in January and February, the Fed said economy had recovered enough for it to continue reducing the bond buys, which are aimed at keeping long-term interest rates low.

The Federal Reserve also said the vast majority of its policymakers believed it would be appropriate for the central bank to raise short-term interest rates starting in 2015. The Federal Funds rate, traditionally the Fed's main tool for regulating the health of the economy, has been near zero since late 2008.

Investors have grown used to an easy-money policy from the Fed for more than five years now. Higher interest rates would mean the economy is improving, but it also raises the cost of borrowing money for everyone, from companies borrowing to expand their businesses to consumers looking at a mortgage. At the same time, if the Fed kept interest rates for too low for too long it could cause the U.S. economy to overheat and experience inflation.

"We think they are acknowledging for the first time that short-term rates will rise in the future," Chris Rupkey, chief financial economist with Bank of Tokyo-Mitsubishi UFJ, wrote in an e-mail to clients. "And that future is not that far away. A normal economy will need a normal interest rate."

Traders were also confused after newly appointed Fed Chair Janet Yellen implied that the Fed's time frame for raising interest rates was closer to the first half of 2015, sooner than many had expected.

At a press conference, Yellen was asked how much time would need to pass between when the Fed ends its bond-buying program ”” which is expected to end in the second half of 2014 ”” and when the Fed would raise interest rates. Yellen responded that the Fed could consider raising interest rates in "six months or that type of thing" from when the bond-buying program would end.

A timetable of six months was much sooner than investors had predicted. So whether or not Yellen meant the "six months" as a definitive timetable or a rough estimate based upon where the economy might be in a year, the market took Yellen at her word, strategists said. Stock and bond prices steepened in their decline after she made her comments.

"It creates a haze of uncertainty," said Andres Garcia-Amaya, global market strategist with J.P. Morgan Funds. "As we get closer to 2015, we should expect more volatility like this."

The reaction to Yellen's remarks and the Fed's announcements was far more noticeable in the bond market.

The yield of the 10-year U.S. Treasury note, a benchmark for many kinds of loans including mortgages, rose to 2.77 percent from 2.67 percent Tuesday, a large move. The sell-off was even more pronounced in two-year and five-year Treasury notes. The yield on the two-year note jumped to 0.42 percent from 0.35 percent and the five-year note's yield rose to 1.7 percent from 1.54 percent.

The U.S. dollar had its biggest one-day gain since August 2013 and gold had its worst day since December. In afterhours trading, gold was down $28.20, or 2 percent, to $1,330.80 an ounce.

Financial stocks did better than the rest of the market. Citigroup rose 80 cents, or 1.7 percent, to $48.94 and Bank of America rose 25 cents, or 1.5 percent, to $17.44. Banks, in particular big commercial lenders like Citi, benefit from higher interest rates because they can charge more for loans and credit card balances.

In company news:

”” KB Home, one of the nation's largest homebuilders, jumped $1.04, or 6 percent, to $18.72 after the company reported much higher profits than investors were expecting. KB earned 12 cents a share, four cents more than analysts had forecast. The company also said the average selling price of a new home rose 12 percent from last year. Other homebuilders such as D.R. Horton and PulteGroup also rose.

”” Technology giant Oracle fell 29 cents, or 0.7 percent, to $38.55. The database software maker reported a slight rise in revenue and profits from a year ago, but the results came in short of analysts' predictions. Oracle's results also dragged down IBM, SAP and Microsoft.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	108.88	points or ▲	0.67%	on	Thursday, 20 March 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,331.05	▲	108.88	▲	0.67%		
	Nasdaq____	4,319.29	▲	11.68	▲	0.27%		
	S&P_500___	1,872.01	▲	11.24	▲	0.60%		
	30_Yr_Bond____	3.66	▼	-0.01	▼	-0.27%		

NYSE Volume	 3,345,197,000 	 	 	 	 	  		 
Nasdaq Volume	 1,822,649,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,542.44	▼	-30.69	▼	-0.47%		
	DAX_____	9,296.12	▲	19.07	▲	0.21%		
	CAC_40__	4,327.91	▲	19.85	▲	0.46%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,312.70	▼	-60.30	▼	-1.12%		
	Shanghai_Comp	1,993.48	▼	-28.26	▼	-1.40%		
	Taiwan_Weight	8,597.33	▼	-92.13	▼	-1.06%		
	Nikkei_225___	14,224.23	▼	-238.29	▼	-1.65%		
	Hang_Seng.__	21,182.16	▼	-386.53	▼	-1.79%		
	Strait_Times.__	3,057.14	▼	-23.61	▼	-0.77%		
	NZX_50_Index_	5,160.39	▲	5.68	▲	0.11%		

http://finance.yahoo.com/news/bette...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Better news on the US economy drives stocks higher
Signs of a spring thaw in economy drive US stocks higher; Microsoft gains on tablet hopes*
Associated Press
By Steve Rothwell, AP Markets Writer

The stock market got a bounce on the first day of spring.

Signs that the U.S. economy is emerging from a winter chill drove major stock indexes higher Thursday. Investors were encouraged by an increase in manufacturing and a rise in a key index of economic indicators.

The market had slumped the day before, when Federal Reserve Chair Janet Yellen suggested that the central bank could start raising interest rates sooner than many investors had expected.

"The economy is likely to have a good bounce in the springtime," said Peter Cardillo, chief market economist at Rockwell Global Capital. "The market is reacting to the good economic news."

The Standard & Poor's 500 index rose 11.24 points, or 0.6 percent, to 1,872.01. The Dow Jones industrial average gained 108.88 points, or 0.7 percent, to 16,331.05. The Nasdaq composite climbed 11.68 points, or 0.3 percent, to 4,319.29.

The S&P 500 came within a fraction of a point of wiping out all of its losses from a day earlier, when it dropped 11.48 points.

Stocks started the day lower, extending their losses from Wednesday, as investors mulled comments the day before from Yellen, who set the stage for a possible interest rate hike by the middle of next year. The Fed on Wednesday also dropped its previous position of saying it would consider raising interest rates once the unemployment rate declined to 6.5 percent. Unemployment is currently 6.7 percent.

Higher interest rates could slow the economy by raising the cost of borrowing money. That could hold companies back from borrowing to expand their businesses or discourage consumers from taking out loans such as mortgages. At the same time, a decision by the Fed to raise rates would indicate the central bank thinks the economy is getting stronger.

The market turned higher in midmorning trading following news that a measure of the U.S. economy's health rose in February by the largest amount in three months. That suggests growth will accelerate following a severe winter.

The Conference Board's index of leading indicators increased 0.5 percent following a slight 0.1 percent rise in January and a 0.1 percent decline in December.

The Federal Reserve Bank of Philadelphia said separately that manufacturing rebounded in that region in March as new orders increased.

Microsoft was among the big gainers on Thursday. The software company's stock climbed $1.06, or 2.7 percent, to $40.33 after analysts at Morgan Stanley said a rumored plan to make a version of its Office software available for iPad devices could generate $1.2 billion in annual revenue.

3-D printing companies were among the losers after ExOne reported a fourth quarter loss late Wednesday and said its revenue fell. ExOne slid $4.35, or 10 percent, to $39.40. Other 3D-printer companies, including Stratasys and 3D Systems, also fell.

Stocks have become more volatile this year as Fed policy makers have started reducing their economic stimulus, and investors have fretted whether the economy is strong enough to maintain its recovery without the central bank's support.

The stock market is in the sixth year of a bull market and has risen 172 percent since March 2009. That rise has been aided by the Fed's stimulus, which has strengthened the economy by keeping interest rates low.

As the Fed cuts back on stimulus, investors are splitting into roughly two camps, said Omar Aguilar, Chief Investment Officer at Charles Schwab.

"You have those that believe that the only reason the market has gone up for the last five years is because of the stimulus program ... that is clearly coming to an end," said Aguilar. "Other investors think that the economy is in good shape."

Bond prices were little changed a day after the Fed announced it would make further reductions to its bond-buying program. The yield on the 10-year government was unchanged from Wednesday at 2.77 percent.

The price of crude oil fell 94 cents, or 0.9 percent, to $99.43 a barrel. Gold dropped $10.80, or 0.8 percent, to $1,330.50 an ounce

Among other stocks making big moves:

”” ConAgra Foods rose 40 cents, or 1.4 percent, to $29.99 after the company said its latest quarterly earnings nearly doubled. It continues to benefit from the acquisition of private-label food maker Ralcorp.

”” Guess slumped 98 cents, or 3.4 percent, to $27.78 after the apparel maker reported lower quarterly income and predicted a loss for the current period.

”” Q2, a provider of online banking platforms to community banks, surged on its first day of trading on the New York Stock Exchange. The stock rose $2.17, or 16.7 percent, to $15.17.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-28.28	points or ▼	-0.17%	on	Friday, 21 March 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,302.77	▼	-28.28	▼	-0.17%		
	Nasdaq____	4,276.79	▼	-42.50	▼	-0.98%		
	S&P_500___	1,866.52	▼	-5.49	▼	-0.29%		
	30_Yr_Bond____	3.61	▼	-0.05	▼	-1.39%		

NYSE Volume	 5,042,139,500 	 	 	 	 	  		 
Nasdaq Volume	 3,220,514,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,557.17	▲	14.73	▲	0.23%		
	DAX_____	9,342.94	▲	46.82	▲	0.50%		
	CAC_40__	4,335.28	▲	7.37	▲	0.17%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,354.00	▲	41.30	▲	0.78%		
	Shanghai_Comp	2,047.62	▲	54.14	▲	2.72%		
	Taiwan_Weight	8,577.17	▼	-20.16	▼	-0.23%		
	Nikkei_225___	14,224.23	▼	-238.29	▼	-1.65%		
	Hang_Seng.__	21,436.70	▲	254.54	▲	1.20%		
	Strait_Times.__	3,073.39	▲	16.19	▲	0.53%		
	NZX_50_Index_	5,124.99	▼	-35.40	▼	-0.69%		

http://finance.yahoo.com/news/early-gain-fades-wall-street-164940850.html

*An early gain fades on Wall Street
An early gain fades away on Wall Street; Health care stocks slump*
Associated Press
By Matthew Craft, AP Business Writer

An early surge on the stock market evaporated Friday, as health care stocks tugged major indexes down.

Biotech companies were especially hard-hit after U.S. lawmakers questioned the pricing of a Hepatitis C drug made by Gilead Sciences.

The Standard & Poor's 500 index raced past an all-time high in early trading, then lost steam in the afternoon. It still finished with a solid weekly gain, up 1.4 percent.

It might sound surprising that the stock market is trading near an all-time high with all the uncertainty surrounding China's slowing growth and simmering tensions between Russia and the West. Last week, those concerns were credited with knocking the S&P 500 index down 1.9 percent, its worst weekly loss in nearly two months.

This week investors seemed to return their focus to the basics.

"There are always bad things going on in the world, but they don't all matter to the ultimate direction of markets," said Douglas CotÃ©, chief market strategist at ING U.S. Investment Management. "The only thing that matters is the following: corporate earnings, manufacturing and the consumer. And they've all been solid."

The S&P 500 slipped 5.61 points, or 0.3 percent, to close at 1,866.40 Friday. It traded as high as 1,882 earlier in the day, four points above its record high reached March 7.

The Dow Jones industrial average lost 28.35 points, or 0.2 percent, to 16,302.70. The Nasdaq composite dropped 42.50 points, or 1 percent, to 4,276.79.

Health care stocks fell the most in the S&P 500 index. Gilead lost $3.46, or 5 percent, to $72.07. Biogen Idec fell $28.51, or 8 percent, to $318.53.

Nike fell after warning that a stronger U.S. dollar will dampen its results this quarter. Still, strong demand for its shoes and apparel ahead of the World Cup in June helped it beat analysts' earnings expectations in the previous quarter, the company said late Thursday. Nike, one of the 30 stocks in the Dow, lost $4.06, or 5 percent, to $75.21.

Earlier in the week, reports on manufacturing and housing sent the stock market higher. The big stumble came Wednesday, when the Federal Reserve said it could start raising short-term interest rates as soon as next year. Traders drove down prices for gold, government bonds and stocks in anticipation of higher interest rates and borrowing costs.

Those market jitters overshadowed some good news, said Dan Veru, chief investment officer of Palisade Capital Management in Fort Lee, N.J.

"If interest rates are going higher it's because the economy is doing better," he said, "and that's going to be a good thing for corporate profits. What's so bad about that?"

In other trading Friday, the yield on the 10-year Treasury fell to 2.74 percent. Crude oil rose 56 cents to close at $99.46 a barrel. Gold gained $5.50 to settle at $1,336 an ounce.

Among other companies in the news:

— Zions Bancorporation, a regional bank based in Salt Lake City, fell $1.75, or 5 percent, to $31.24. Late Thursday, the Fed said Zions was the only one of 30 major U.S. banks that didn't pass an annual "stress test" that determines whether banks are have sufficient capital buffers to keep them lending through an economic crisis.

— Symantec lost $2.71, or 13 percent, to $18.20. The maker of security software fired its CEO late Thursday. It was the second time in less than two years that the company has dismissed its chief executive.

— News that Golden Gate Capital has acquired a stake in Ann Inc. sent the retailer's stock soaring $4.82, or 13 percent, to $42.05. The private equity firm disclosed the 9.5 percent stake in the parent company of Ann Taylor and LOFT late Thursday.

7416


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-26.08	points or ▼	-0.16%	on	Monday, 24 March 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,276.69	▼	-26.08	▼	-0.16%		
	Nasdaq____	4,226.39	▼	-50.40	▼	-1.18%		
	S&P_500___	1,857.44	▼	-9.08	▼	-0.49%		
	30_Yr_Bond____	3.57	▼	-0.04	▼	-1.03%		

NYSE Volume	 3,375,083,000 	 	 	 	 	  		 
Nasdaq Volume	 2,402,464,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,520.39	▼	-36.78	▼	-0.56%		
	DAX_____	9,188.77	▼	-154.17	▼	-1.65%		
	CAC_40__	4,276.34	▼	-58.94	▼	-1.36%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,362.10	▲	8.10	▲	0.15%		
	Shanghai_Comp	2,066.28	▲	18.66	▲	0.91%		
	Taiwan_Weight	8,605.38	▲	28.21	▲	0.33%		
	Nikkei_225___	14,475.30	▲	251.07	▲	1.77%		
	Hang_Seng.__	21,846.45	▲	409.75	▲	1.91%		
	Strait_Times.__	3,111.29	▲	37.90	▲	1.23%		
	NZX_50_Index_	5,118.62	▼	-6.38	▼	-0.12%		

http://finance.yahoo.com/news/netflix-other-tech-stocks-lead-210500923.html

*Netflix and other tech stocks lead market lower
Drop in technology stocks leads US indexes lower; Netflix, Facebook slump*
Associated Press
By Bernard Condon, AP Business Writer

 A sell-off in technology stocks Monday pulled the broader market lower as investors unloaded some of the biggest names in the industry.

Netflix fell 7 percent, Facebook fell 5 percent, and Google and Amazon.com each fell more than 2 percent.

Tech stocks have soared over the past year, pushing the Nasdaq composite index up 30 percent over the past 12 months, more than twice as much as the Dow Jones industrial average. Netflix and Facebook have doubled in price in that time.

"The big highfliers have done really well, and so I think there's been some profit-taking," said Randy Warren, chief investment officer of Warren Financial Service.

The Nasdaq lost 50.4 points, or 1.2 percent, to close at 4,226.39.

Other indexes also fell, but not as much. The Standard & Poor's 500 index fell 9.08 points, or 0.5 percent, to 1,857.44. The Dow Jones industrial average fell 26.08 points, or 0.2 percent, to 16,276.69.

Stocks drifted lower early Monday as traders feared that sanctions against Russia could tip the world's ninth-largest economy into recession. Investors were also reacting to news that Russian troops had seized Ukrainian ships and military installations in the Crimean peninsula. Russia annexed the region last week.

Biotechnology stocks, another sector that has soared over the past year, extended a decline that began Friday after U.S. lawmakers questioned the pricing of a Hepatitis C drug made by Gilead Sciences.

A popular fund tracking biotech stocks, the iShares Nasdaq Biotech ETF, fell 3 percent on Monday. It's been up 53 percent over the past 12 months.

"It's the richest part of the market, so ... you're going to get nervousness," said Jerry Webman, chief economist of Oppenheimer Funds.

Among stocks making big moves:

”” Herbalife rose $3.32, or 6.7 percent, to $52.86 after agreeing to back billionaire Carl Icahn's three nominees for its board. Icahn is a supporter of the embattled health supplements company in its fight with another famed investor, William Ackman, who has accused the company of operating a pyramid scheme.

”” Apple bucked the downward trend in technology stocks. The company rose after The Wall Street Journal reported that Apple is in talks with the giant cable provider Comcast to offer a streaming video service. Apple rose $6.32, or 1 percent, to $539.19.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.73 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	91.19	points or ▲	0.56%	on	Tuesday, 25 March 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,367.88	▲	91.19	▲	0.56%		
	Nasdaq____	4,234.27	▲	7.88	▲	0.19%		
	S&P_500___	1,865.62	▲	8.18	▲	0.44%		
	30_Yr_Bond____	3.58	▲	0.01	▲	0.20%		

NYSE Volume	 3,175,961,250 	 	 	 	 	  		 
Nasdaq Volume	 2,240,870,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,604.89	▲	84.50	▲	1.30%		
	DAX_____	9,338.40	▲	149.63	▲	1.63%		
	CAC_40__	4,344.12	▲	67.78	▲	1.59%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,351.00	▼	-11.10	▼	-0.21%		
	Shanghai_Comp	2,067.31	▲	1.03	▲	0.05%		
	Taiwan_Weight	8,689.30	▲	83.92	▲	0.98%		
	Nikkei_225___	14,423.19	▼	-52.11	▼	-0.36%		
	Hang_Seng.__	21,732.32	▼	-114.13	▼	-0.52%		
	Strait_Times.__	3,104.17	▼	-7.66	▼	-0.25%		
	NZX_50_Index_	5,130.69	▲	12.08	▲	0.24%		

http://finance.yahoo.com/news/stocks-move-higher-wall-street-205451496.html

*Stocks move higher on Wall Street; Sonic gains
Stocks move higher as investors assess US economy and earnings; Biotechnology stocks rebound*
Associated Press
By Steve Rothwell, AP Markets Writer 

Stocks got a lift Tuesday as health care companies bounced back after a heavy sell-off.

Biotechnology stocks in the Standard & Poor's 500 index rose for the first time in five days after a sharp sell-off that prompted by concern over costs of the drugs they make. Merck and Boston Scientific were among the companies that rose.

Stocks have been flipping between gains and losses for the most of the month, as investors have bought stocks after every dip. While many investors are confident that economic growth will accelerate as the weather moderates following an unusually harsh winter, they are reluctant to push stock prices higher before seeing more evidence that the economy is picking up.

"The reasons to buy are certainly there," said Robert Pavlik, chief market strategist at Banyan Partners, a wealth management company. "People are afraid to jump the gun."

The S&P 500 rose 8.18 points, or 0.4 percent, to 1,865.62. The Dow Jones industrial average gained 91.19 points, or 0.6 percent, to 16,367.88. The Nasdaq composite gained 7.88 points, or 0.2 percent, to 4,234.27.

Nine of the 10 industry groups in the S&P 500 ended the day higher. Industrial stocks rose the most, 0.9 percent, followed by the energy and health care sectors, which each gained 0.8 percent.

Biotechnology companies in the index rose 0.6 percent, led by Alexion Pharmaceuticals, which rose $3.32, or 2.2 percent, to $153. The index had lost 8.5 percent over the previous four days. The index has surged in the last year and is still up 45 percent over the last 12 months.

McCormick was the best performing stock in the S&P 500 on Tuesday. The company, which makes spices, seasonings and condiments, rose $3.69, or 5.5 percent, to $71.20 after reporting earnings that beat analysts' estimates. The company also reaffirmed its outlook for the year.

Another big gainer was Sonic. The stock of the drive-in restaurant company jumped $2.31, or 11 percent, to $23.23 after the company posted earnings that exceeded the expectations of Wall Street analysts. Net income rose despite the unusually harsh winter weather.

There were also conflicting reports on the economy for investors to consider.

One report showed that fewer people bought new U.S. homes in February. Sales fell to the slowest pace in five months, a sign that the housing market has yet to recover fully from brutal winter weather, the Commerce Department said Tuesday. Meanwhile, an index measuring U.S. consumer confidence rose to the highest level in six years, another sign that the economy's prospects should brighten with warmer weather.

Mixed signals have undermined investor's confidence in the economy after a strong fourth quarter last year suggested that U.S. growth was poised to accelerate, said Russ Koesterich, chief investment strategist for BlackRock. The S&P 500 has gained 0.3 percent this month, and is up 0.9 percent for the year.

"The investment thesis for 2014 was that the U.S. economy was going to start sprinting ahead," said Koesterich. "It's been a very sluggish start to the year ... People are not seeing the growth that they expected."

Prices for U.S. government bonds fell. The yield on the 10-year U.S. Treasury note rose to 2.74 percent from 2.73 percent on Monday.

Crude oil fell 41 cents, or 0.4 percent, to $99.19 a barrel. Gold edged up 20 cents to $1,311.40 an ounce.

Among other stocks making big moves on Tuesday:

”” Carnival fell $1.98, or 4.9 percent, to $38.02, after the cruise operator swung to a loss in the first quarter, stung by losing bets on the future price of fuel. Carnival's adjusted results and revenue beat analysts' expectations, but the company narrowed its full-year forecast and gave a second-quarter projection below Wall Street's view.

”” Walgreen rose $2.11, or 3.3 percent, to $66.42 after the company reported its fiscal second quarter earnings. The company said it plans to close 76 stores in the second half of its fiscal year. That's a big shift from its previous growth strategy, which focused on opening locations to maximize convenience for its customers.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-98.89	points or ▼	-0.60%	on	Wednesday, 26 March 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,268.99	▼	-98.89	▼	-0.60%		
	Nasdaq____	4,173.58	▼	-60.69	▼	-1.43%		
	S&P_500___	1,852.56	▼	-13.06	▼	-0.70%		
	30_Yr_Bond____	3.55	▼	-0.03	▼	-0.78%		

NYSE Volume	 3,440,517,500 	 	 	 	 	  		 
Nasdaq Volume	 2,429,389,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,605.30	▲	0.41	▲	0.01%		
	DAX_____	9,448.58	▲	110.18	▲	1.18%		
	CAC_40__	4,385.15	▲	41.03	▲	0.94%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,387.20	▲	36.20	▲	0.68%		
	Shanghai_Comp	2,063.67	▼	-3.64	▼	-0.18%		
	Taiwan_Weight	8,737.27	▲	47.97	▲	0.55%		
	Nikkei_225___	14,477.16	▲	53.97	▲	0.37%		
	Hang_Seng.__	21,887.75	▲	155.43	▲	0.72%		
	Strait_Times.__	3,146.98	▲	42.81	▲	1.38%		
	NZX_50_Index_	5,124.89	▼	-5.81	▼	-0.11%		

http://finance.yahoo.com/news/technology-stocks-lead-broad-market-211855953.html

*Technology stocks lead a broad market decline
Stocks fall most in two weeks; Facebook leads technology sector lower after Oculus acquisition*
Associated Press
By Steve Rothwell, AP Markets Writer 

The stock market continued its recent pattern of one step forward, one step back.

After starting the day higher following an encouraging report on orders for manufactured goods, stocks drifted lower in afternoon trading Wednesday and gave up their gains from a day earlier. Facebook led the technology sector lower as investors gave the company's latest acquisition the thumbs-down.

The Standard & Poor's 500 index fell the most in two weeks and is now flat for the year. Investors are waiting for a catalyst that will either push the market higher or cause a sustained sell-off. Many anticipate that the stock market will resume its upward trajectory later in the year as the economy strengthens following an unusually harsh winter.

"We're going through this back and forth, I would call it a consolidation phase, digesting the huge gains we've had," said David Lafferty, chief market strategist at Natixis Global Asset Management. "Most of the movement in stocks will tend to be in the latter half of the year."

The S&P 500 fell 13.06 points, or 0.7 percent, to 1,852.56. The index is up 0.2 percent for the year, after rising almost 30 percent in 2013.

The Dow Jones industrial average lost 98.89 points, or 0.6 percent, to 16,268.99. The technology-heavy Nasdaq composite fell more than the other indexes, giving up 60.69 points, or 1.4 percent, to 4,173.58.

Facebook was one of the biggest losers.

The social media network slumped $4.51, or 6.9 percent, to $60.38 after announcing a $2 billion acquisition of virtual reality company Oculus late Monday. It was Facebook's second big acquisition in as many months. Last month the company announced that it would pay $19 billion for messaging startup WhatsApp.

Investors may be questioning whether the returns on those investments will ultimately justify the big outlays, said Lawrence Creatura, a portfolio manager at Federated Investors.

Another loser in the technology sector was King Digital Entertainment.

The online games company, which makes the popular "Candy Crush Saga," slumped on its first day of trading. The company raised $499.5 million in an initial public offering. The company's stock fell $3.50, or 15.6 percent, to $19 on its first day of trading.

The stock market opened higher after a report showed that orders to U.S. factories for long-lasting manufactured goods rose in February by the largest amount since November, 2.2 percent. Demand for airplanes and automobiles drove the gains, according to the Commerce Department report. Last month's rise in durable goods orders followed a 1.3 percent drop in January.

"The bigger issue right now is whether or not growth in the United States is going to reaccelerate as the year goes on," Paul Karos, portfolio manager at Whitebox mutual funds. "We are assuming a bounce back after this week first quarter."

Health care companies bucked the downward trend and were the only industry sector to rise. The sector is rebounding after getting caught up in a brief sell-off of biotechnology stocks on Friday and Monday. Biotech companies slumped after lawmakers raised concerns about the prices of some drugs.

Tenet Healthcare rose $2.03, or 5.2 percent, to $40.93. Quest Diagnostic rose $3.05, or 5.6 percent, to $57.99. Hospitals and medical device companies are attractive because they have steady revenue streams.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.69 percent from 2.75 percent from late Tuesday. The price of crude oil rose $1.07, or 1.1 percent, to $100.26 a barrel. Gold fell $8, or 0.6 percent, to settle at $1,303.40 an ounce.

Among other stocks making big moves:

”” International Game Technology fell $1.23, or 8.3 percent, to $13.62 after the company lowered its annual profit forecast, saying North American gambling revenue has declined more steeply than it expected. Its international business is being hurt by weakening currencies and other problems.

”” Discount retailer Five Below shot higher after its quarterly profit and sales beat analysts' expectations. The stock jumped $4.34, or 11 percent, to $42.34.

”” Citigroup fell $2.66, or 5.3 percent, to $47.50 in after-hours trading after the Federal Reserve turned down the bank's plan to spend $6.4 billion buying back its own stock and increasing its quarterly dividend from 1 cent to 5 cents.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-4.76	points or ▼	-0.03%	on	Thursday, 27 March 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,264.23	▼	-4.76	▼	-0.03%		
	Nasdaq____	4,151.23	▼	-22.35	▼	-0.54%		
	S&P_500___	1,849.04	▼	-3.52	▼	-0.19%		
	30_Yr_Bond____	3.51	▼	-0.04	▼	-1.15%		

NYSE Volume	 3,700,630,250 	 	 	 	 	  		 
Nasdaq Volume	 2,225,925,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,588.32	▼	-16.98	▼	-0.26%		
	DAX_____	9,451.21	▲	2.63	▲	0.03%		
	CAC_40__	4,379.06	▼	-6.09	▼	-0.14%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,359.70	▼	-27.50	▼	-0.51%		
	Shanghai_Comp	2,046.59	▼	-17.08	▼	-0.83%		
	Taiwan_Weight	8,779.57	▲	42.30	▲	0.48%		
	Nikkei_225___	14,622.89	▲	145.73	▲	1.01%		
	Hang_Seng.__	21,834.45	▼	-53.30	▼	-0.24%		
	Strait_Times.__	3,162.46	▲	19.14	▲	0.61%		
	NZX_50_Index_	5,126.53	▲	1.65	▲	0.03%		

http://finance.yahoo.com/news/tech-companies-citigroup-tug-us-161934884.html

*Tech companies, Citigroup tug US stocks lower
Stock indexes close lower for second day as Citigroup and technology shares slide*
Associated Press
By Ken Sweet, AP Markets Writer 

NEW YORK (AP) -- It was a bad day to be an investor in Citigroup or tech stocks.

U.S. stock indexes edged lower for a second day Thursday as investors continued to retreat from technology stocks. The technology-heavy Nasdaq composite index closed at its lowest level in six weeks.

Bank stocks were also in focus. Citigroup fell 5 percent after the Federal Reserve denied the bank's plan to raise its dividend and buy back more stock. Most other major banks won approval to raise their dividends.

The Standard & Poor's 500 index lost 3.52 points, or 0.2 percent, to 1,849.04 and the Nasdaq dropped 22.35 points, or 0.5 percent, to 4,151.23.

The Dow Jones industrial average fell a modest 4.76 points, or less than 0.1 percent, to end at 16,264.23. The blue-chip index benefited from a gain in Exxon Mobil, which rose $1.54, or 1.6 percent, to $96.24 as the price of oil increased 1 percent to just over $101 a barrel.

Once again, the high-flying technology stocks that soared in 2013 were among the hardest hit. Tesla Motors fell nearly 3 percent, Netflix lost 2.2 percent and Google fell 1.6 percent.

The sell-off continues what has already been a tough month for technology stocks. Netflix is down 18 percent this month, and Twitter and Tesla have fallen 16 and 15 percent, respectively.

Investors say it's reassuring to see some of the air come out of these speculative technology stocks. Netflix is still is trading at 90 times its expected 2014 earnings; the average for companies in the S&P 500 index is 17. Tesla is worth 119 times its expected earnings and Twitter, which hasn't even made a profit, is trading at more than 3,000 times what analysts expect the company to earn this year.

Most investors believe that while Netflix, Tesla and Facebook have bright futures, the stocks may have gotten ahead of themselves in recent months.

"The real story in the market is this valuation correction and risk-off trade," said Steve Massocca, a fund manager for the Wedbush Hedged Dividend Fund. "The more speculative areas have seen money come out of them in a hurry."

Citigroup was the second-biggest decliner in the S&P 500 after the Federal Reserve denied the bank's plan to raise its dividend and buy back more stock. The bank was one of only five to have plans rejected by the Fed. Citi was the only large U.S.-based commercial bank to face a rebuke from the Fed.

Investors had been bidding up the big banks' stock prices in the weeks heading into the announcement, in anticipation that the Fed would allow the banks, five years after the financial crisis, to return more money to investors. The nation's biggest banks have proposed $22.79 billion in dividends this year, a 23 percent increase from a year ago, according to data provided by Thomson Reuters.

"While there's going to be some winners and losers, these 'stress test' results will be an overall positive for the banks because it removes some of uncertainty in the sector," said Andres Garcia-Amaya, a global market strategist for J.P. Morgan Funds.

"From a long-term perspective, they're all in a great place competitively," Massocca said.

As they have often done in recent weeks, investors looked past the latest positive reports on the U.S. economy.

The government estimated that the U.S. economy expanded at a 2.6 percent rate between October and December, slightly better than previously thought. Consumer spending rose at the fastest pace in three years. The government also said the number of people seeking U.S. unemployment benefits fell 10,000 last week to 311,000, the lowest since late November. Both reports were better than economists were expecting.

Economic data has had less of an impact on the stock market recently as many investors assume that the unusually harsh winter weather this year has skewed the data. Extremely cold and stormy weather is widely believed to have suppressed sales, hiring, construction and other potential growth in the economy in January and February. At the same time, many investors attribute improvements in economic indicators this month to a temporary bounce because of pent-up demand.

"We are not likely to get 'pure' data until the summer," Garcia-Amaya said. "Investors can't have it both ways, complaining that any bad data was impacted by the weather while at the same time saying any better-than-expected data was not impacted by the weather. We'll need to take the good and the bad with a grain of salt for a couple more months."

In company news:

”” GameStop fell $1.57, or 4 percent, to $37.33. The video game retail chain reported higher fourth-quarter earnings, thanks to the recent debut of Microsoft's Xbox One and Sony's PlayStation 4, but its earnings missed estimates. The company also announced it would close 2 percent of its stores.

”” King Entertainment, producer of the "Candy Crush Saga" video game, continued to slide a day after flopping in its stock market debut. The stock fell 51 cents, or 2.7 percent, to $18.49. It plunged 16 percent the day before.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	58.83	points or ▲	0.36%	on	Friday, 28 March 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,323.06	▲	58.83	▲	0.36%		
	Nasdaq____	4,155.76	▲	4.53	▲	0.11%		
	S&P_500___	1,857.62	▲	8.58	▲	0.46%		
	30_Yr_Bond____	3.54	▲	0.03	▲	0.97%		

NYSE Volume	 2,966,843,750 	 	 	 	 	  		 
Nasdaq Volume	 2,009,684,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,615.58	▲	27.26	▲	0.41%		
	DAX_____	9,587.19	▲	135.98	▲	1.44%		
	CAC_40__	4,411.26	▲	32.20	▲	0.74%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,376.80	▲	17.10	▲	0.32%		
	Shanghai_Comp	2,041.71	▼	-4.88	▼	-0.24%		
	Taiwan_Weight	8,774.64	▼	-4.93	▼	-0.06%		
	Nikkei_225___	14,696.03	▲	73.14	▲	0.50%		
	Hang_Seng.__	22,065.53	▲	231.08	▲	1.06%		
	Strait_Times.__	3,172.17	▲	9.71	▲	0.31%		
	NZX_50_Index_	5,142.90	▲	16.36	▲	0.32%		

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Stocks edge higher on consumer spending data
Microsoft leads the Dow Jones industrial average higher; CBS Outdoor jumps in market debut*
Associated Press
By Ken Sweet, AP Markets Writer March 28, 2014 

NEW YORK (AP) -- A positive report on U.S. consumer spending helped push stocks mostly higher Friday for the first time in three days.

The gains were modest as investors continued to cut their holdings in biotechnology stocks, some of the best performing names of 2013. Instead, the stocks that advanced the most were mostly mature, large companies such as Microsoft, Exxon and Cisco Systems.

The Dow Jones Industrial average rose 58.83 points, or 0.4 percent, to 16,323.06. The Standard & Poor's 500 index rose 8.58 points, or 0.5 percent, to 1,857.62. The Nasdaq composite, which includes a number of large biotech companies, rose just 4.53 points, or 0.1 percent, to 4,155.76.

The biggest gainer in the Dow was Microsoft, which rose 94 cents, or 2.4 percent, to $40.30. The company announced Thursday that it was bringing Microsoft Office to the iPad and would shift its focus away from Windows, a move that analysts liked. Satya Nadella made the announcement in his first public appearance as the new leader of Microsoft.

"We continue to view (Office on the iPad) as a massive revenue and operating profit opportunity for Microsoft," analysts at Credit Suisse said in a report Thursday.

Microsoft helped lift other large technology companies, with Cisco Systems, Intel and Oracle up roughly 1 percent or more.

In contrast to technology, biotechnology had another horrible day. Gilead Sciences, Biogen Idec and Vertex Pharmaceuticals were all down 4 percent or more.

The higher they rise, the harder they fall, investors say. Biotechnology stocks had been among the hottest sectors in the stock market for the last two years, with the S&P 500 Biotechnology index rising 74 percent in 2013 and 38 percent in 2012.

That momentum stopped dead in the month of March. The S&P 500 Biotechnology index is down 12 percent this month alone, erasing all of the sector's gains in January and February.

The sell-off in biotech echoes the pullback investors have seen speculative technology stocks, such as Twitter, Netflix and Tesla Motors. Those stocks are down between 14 percent and 20 percent this month alone.

"The high-momentum names have lost all the traction they had in the past year," said John Fox, director of research at Fenimore Asset Management.

Investors were encouraged by news that Americans increased their spending last month, a hopeful sign for an economy that has been slowed by months of severe winter weather. The Commerce Department said consumer spending inched up 0.3 percent, a hair short of economists' forecasts. Incomes rose at the same pace.

"The economy is now reaching the point where it can shake off the weather-related excuses," Doug Cote, a market strategist for ING Investment Management, wrote in an email.

Investors will now turn their attention to next week's economic data, including the March jobs report due out Friday. Economists expect the U.S. economy, thawing from the harsh winter, created 200,000 jobs last month and the unemployment rate remained steady at 6.6 percent.

In other markets, the yield on the 10-year Treasury note hovered around 2.72 percent, up from 2.69 percent Thursday. The price of crude oil edged up 39 cents, or 0.4 percent, to $101.67 a barrel. Gold was little changed at $1,293.80 an ounce.

In other company news:

”” King Digital, the maker of the "Candy Crush Saga" video game, was down for a third day in a row following its IPO on Wednesday. The stock fell 41 cents, or 2.2 percent, to $18.08. King went public at $22.50 a share.

”” CBS Outdoor, a major outdoor advertising company, rose $1.50, or 5 percent, to $29.50 on its first day of trading. CBS decided to spin off CBS Outdoor into a separate publicly traded company because executives believed billboard advertising did not fit well with CBS's primary business of broadcasting.

”” Electric car maker Tesla Motors rose $5.05, or 2.4 percent, to $212.37. The stock rise followed news that federal safety regulators had closed their investigation into allegations of battery fires without any penalty against Tesla. The company also said it would install more shielding around its battery packs.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	134.6	points or ▲	0.82%	on	Monday, 31 March 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,457.66	▲	134.60	▲	0.82%		
	Nasdaq____	4,198.99	▲	43.23	▲	1.04%		
	S&P_500___	1,872.34	▲	14.72	▲	0.79%		
	30_Yr_Bond____	3.56	▲	0.02	▲	0.48%		

NYSE Volume	 3,209,253,000 	 	 	 	 	  		 
Nasdaq Volume	 2,055,529,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,598.37	▲	10.05	▲	0.15%		
	DAX_____	9,555.91	▼	-31.28	▼	-0.33%		
	CAC_40__	4,391.50	▼	-19.76	▼	-0.45%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,403.00	▲	26.20	▲	0.49%		
	Shanghai_Comp	2,033.31	▼	-8.41	▼	-0.41%		
	Taiwan_Weight	8,849.28	▲	74.64	▲	0.85%		
	Nikkei_225___	14,827.83	▲	131.80	▲	0.90%		
	Hang_Seng.__	22,151.06	▲	85.53	▲	0.39%		
	Strait_Times.__	3,186.79	▲	14.62	▲	0.46%		
	NZX_50_Index_	5,139.98	▼	-2.91	▼	-0.06%		

http://finance.yahoo.com/news/us-stocks-close-meager-first-211941723.html

*US stocks close out a meager first-quarter gain
Stocks rise, closing out a meager first-quarter gain; S&P 500 is up 1.3 percent year-to-date*
Associated Press
By Ken Sweet, AP Markets Writer

NEW YORK (AP) -- If 2013 was a year where the stock market went straight up, 2014 has started off as a year where the stock market moves sideways.

There was plenty for investors to worry about in the first three months of the year, from tensions between Russia and the West over Ukraine and the winter storms that froze the U.S. economy in January and February. As a result, investors focused their attention on buying and holding "safe" investments, such as bonds, dividend-paying stocks, and gold.

The Standard & Poor's 500 rose 1.3 percent in the first three months of 2013. The Dow Jones industrial average lost 0.7 percent so far this year, and the Nasdaq composite is up 0.5 percent.

It was S&P 500's its fifth-straight quarterly gain. It was also the index's worst quarter since the fourth quarter of 2012.

"I think this bull market is starting to show signs of fatigue," said Wayne Wilbanks, chief investment officer at Wilbanks, Smith, Thomas in Norfolk, Va., which manages roughly $2.4 billion in assets.

It was all about safety this quarter.

Utility and health care stocks, which typically pay larger-than-average dividends and are less volatile than other stocks, rose 9 percent and 5.5 percent, respectively. Those two sectors were among the laggards last year.

Riskier growth-oriented stocks, particularly in biotechnology, consumer discretionary and technology stocks, fared the worst. Among the biggest decliners this quarter, Twitter fell 27 percent, biotechnology company Celgene dropped 17 percent and Amazon.com fell 16 percent.

Bonds were widely expected to do poorly in 2014 because the Federal Reserve was winding down its bond-buying program and the U.S. economy was improving. Instead, they did better than the stock market. The Barclays Aggregate Bond Index, a broad measure of the bond market that includes Treasurys, corporate and other types of bonds, is up 1.9 percent this quarter.

Even gold did well this quarter. After getting slammed in 2013, gold rose nearly 7 percent in the first quarter of 2013.

Investors started off the quarter cautiously optimistic. The S&P 500 had risen 32 percent in 2013, including dividends, and was trading at an all-time high early in the year. There were signs that the U.S. economic recovery was accelerating. Few investors expected 2013's momentum to hold into this year, however.

"We had such an incredible year last year, people were willing to take a break and wait it out," said J.J. Kinahan, chief strategist with TD Ameritrade.

Investors quickly had to shift to defense mode. Throughout the first three months of the year, there were signs that the U.S. economy was negatively impacted by severe winter storms in December, January and February, which slowed down job creation, consumer spending and manufacturing nationwide.

Internationally, the tensions between Russia and the West over Ukraine drag on. Geopolitical uncertainty is never good for the stock market.

Then there's the Federal Reserve. The nation's central bank began to pull back on its bond-buying economic stimulus in late December, cutting its bond purchases from $85 billion to $75 billion a month. The Fed voted twice this quarter to further cut back the program, which now stands at $55 billion a month.

There's a large group of traders and money managers who believe the Fed's bond-buying program helped push the stock market higher because it was designed to make bonds more expensive than stocks. Now that the Fed is pulling out of the market, the tailwind in the stock market is fading.

"We should expect much more volatility and more meager returns like this" Wilbanks said.

Looking forward, now that winter has subsided across much of the country, investors will turn their eyes to this Friday's jobs report. It is widely expected that the economic freeze from the winter storms is thawing, and the pent-up demand of the last three months should result in burst of activity in the second three months of the year.

Corporations will also start reporting their quarterly results in a few weeks, which will be a catalyst on where this market goes from here.

On Monday, the Dow rose 134.60 points, or 0.8 percent, to 16,457.66, the S&P 500 rose 14.72 points, or 0.8 percent, to 1,872.34 and the Nasdaq composite rose 43.23 points, or 1 percent, to 4,198.99.

8682


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	74.95	points or ▲	0.46%	on	Tuesday, 1 April 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,532.61	▲	74.95	▲	0.46%		
	Nasdaq____	4,268.04	▲	69.05	▲	1.64%		
	S&P_500___	1,885.52	▲	13.18	▲	0.70%		
	30_Yr_Bond____	3.60	▲	0.04	▲	1.21%		

NYSE Volume	 3,312,963,500 	 	 	 	 	  		 
Nasdaq Volume	 2,127,747,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,652.61	▲	54.24	▲	0.82%		
	DAX_____	9,603.71	▲	47.80	▲	0.50%		
	CAC_40__	4,426.72	▲	35.22	▲	0.80%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,394.90	▼	-8.10	▼	-0.15%		
	Shanghai_Comp	2,047.46	▲	14.15	▲	0.70%		
	Taiwan_Weight	8,873.15	▲	23.87	▲	0.27%		
	Nikkei_225___	14,791.99	▼	-35.84	▼	-0.24%		
	Hang_Seng.__	22,448.54	▲	297.48	▲	1.34%		
	Strait_Times.__	3,201.54	▲	12.92	▲	0.41%		
	NZX_50_Index_	5,122.52	▼	-17.46	▼	-0.34%		

http://finance.yahoo.com/news/p-500-record-high-manufacturing-204322174.html

*S&P 500 at record high on manufacturing pickup
Stock close at a record high as US manufacturing shows signs of recovery after a winter freeze*
Associated Press
By Ken Sweet, AP Markets Writer

NEW YORK (AP) -- New signs of life in the U.S. manufacturing sector helped push the stock market to a record high Tuesday.

The Standard & Poor's 500 index gained 13.18 points, or 0.7 percent, to close at 1,885.52. That's above its previous record of 1,878.04, set on March 7. The gains were broad, with eight out of the ten sectors in the S&P 500 rising.

The Dow Jones industrial average rose 74.95 points, or 0.5 percent, to 16,532.61. The technology-heavy Nasdaq composite rose 69.05 points, or 1.6 percent, to 4,268.04.

Investors were encouraged by two mostly positive economic reports focused on U.S. manufacturing.

The Institute for Supply Management's manufacturing index rose to 53.7 in March, up from 53.2 in February, as the nation's factories continued to rev up following the severe winter weather earlier this year. Separately, the Commerce Department said construction spending rose by 0.1 percent in February, after falling by 0.2 percent in January.

Both reports were the latest signs that the U.S. economy was beginning to thaw following a difficult winter.

The biggest gainer in the S&P 500 was the medical device maker Intuitive Surgical, which jumped $55.61, or 13 percent, to $493.60. The Food and Drug Administration approved the company's newest surgical robotic system, which is designed to do minimally invasive surgeries.

Other biotechnology and medical device stocks also rose, a welcome relief for a sector that has been beaten down in the last three weeks. Celgene rose 5 percent, Gilead Sciences rose 4 percent and Amgen rose 2 percent.

Ford also was among the biggest gainers in the S&P 500 after reporting a bump up in sales last month. Ford's U.S. sales chief John Felice says demand picked up in the middle of March, and the company's top-selling F-Series truck sales gained 5 percent. Other automakers also reported higher sales, including Chrysler and Toyota.

Ford rose 72 cents, or 5 percent, to $16.32.

"It's nice to see vehicle sales do well, even with the weather-related concerns last month," said Neil Massa, senior equity trader at John Hancock Asset Management.

It was the first trading day of the second quarter, so Tuesday's trading was likely impacted by fund managers moving money into the market for the first time after closing their books on the first quarter. The stock market had a choppy first quarter, with the S&P 500 rising only 1.3 percent. In comparison, the S&P 500 rose more than 10 percent in the first quarter of 2013.

Later this week, the market will get the closely watched U.S. jobs report. Economists expect that U.S. employers created 191,000 jobs in March and the unemployment rate remained steady at 6.6 percent.

The March report will likely be the first "clean" jobs number investors will get this year, because the December, January and February reports were all affected by the winter storms that enveloped most of the country earlier this year.

"Markets will be quiet until we get that number," said Jonathan Corpina, a floor trader at the New York Stock Exchange with Meridian Equity Partners.

In other markets, bond prices fell. The yield on the 10-year Treasury note rose to 2.76 percent from 2.72 percent late Monday. The price of crude oil slipped $1.84 to $99.74 a barrel. Gold was little changed at $1,279.60 an ounce.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	40.39	points or ▲	0.24%	on	Wednesday, 2 April 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,573.00	▲	40.39	▲	0.24%		
	Nasdaq____	4,276.46	▲	8.42	▲	0.20%		
	S&P_500___	1,890.90	▲	5.38	▲	0.29%		
	30_Yr_Bond____	3.65	▲	0.05	▲	1.25%		

NYSE Volume	 3,100,740,250 	 	 	 	 	  		 
Nasdaq Volume	 2,164,094,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,659.04	▲	6.43	▲	0.10%		
	DAX_____	9,623.36	▲	19.65	▲	0.20%		
	CAC_40__	4,430.86	▲	4.14	▲	0.09%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,408.80	▲	13.90	▲	0.26%		
	Shanghai_Comp	2,058.99	▲	11.53	▲	0.56%		
	Taiwan_Weight	8,905.45	▲	32.30	▲	0.36%		
	Nikkei_225___	14,946.32	▲	154.33	▲	1.04%		
	Hang_Seng.__	22,523.94	▲	75.40	▲	0.34%		
	Strait_Times.__	3,192.78	▼	-5.74	▼	-0.18%		
	NZX_50_Index_	5,116.31	▼	-6.21	▼	-0.12%		

http://finance.yahoo.com/news/p-500-notches-another-record-210046227.html

*S&P 500 notches another record after hiring report
S&P 500 hits another record after encouraging employment report; Dow Jones erases 2014 losses*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- Stocks closed higher for a fourth straight day on Wednesday after a report on hiring provided another encouraging sign that the economy is emerging from its winter slump.

The Standard & Poor's 500 index closed at a record high for the eighth time this year. The Dow Jones industrial average also rose above its record closing level during trading, but fell back and finished just short of its first all-time high of the year.

The stock market has turned higher this week after moving largely sideways for most of the year as reports have suggested that the economy is strengthening after slowing down during an unusually harsh winter. The catalyst on Wednesday was a private survey that showed that U.S. companies increased hiring at a rapid pace last month after a strong manufacturing survey a day earlier.

"In January and February we had that weather weakness and it's now showing through that ... the underlying economy is fine," said Jerry Braakman, chief investment officer of First American Trust. "Economic expansion should continue."

The Standard & Poor's 500 index rose 5.38 points, or 0.3 percent, to 1,890.90. The Dow Jones industrial average climbed 40.39 points, or 0.24 percent, to 16,573. That's just short of its record close of 16,576.66 set Dec. 31. The Nasdaq composite rose 8.52 points, or 0.2 percent, to 4,276.46.

Payroll processer ADP said private employers added 191,000 jobs. ADP also revised February's job creation up to 153,000 from the 139,000 figure reported earlier. The report comes ahead of the government's monthly report on jobs, scheduled to be released on Friday.

Economists are forecasting that U.S. employers added 200,000 jobs in March, according to data provider FactSet. That would be the most since November last year.

"In general, expectations for this Friday's non-farms payrolls number have clearly risen over the last two weeks," said Gary Flam, a portfolio manager at Bel Air Investment Advisors.

There was more encouraging news on manufacturing Wednesday as the Commerce Department reported that orders to U.S. factories rose 1.6 percent in February, the most in five months. On Tuesday, the S&P 500 gained after the Institute for Supply Management said its manufacturing index rose in March.

Industrial companies were among the biggest gainers in the S&P 500 index on Wednesday. The sector has risen 2.7 percent over the last week, as signs have emerged that manufacturing is strengthening, makes it the second-best performer of the 10 industry groups that make up the S&P 500.

After the jobs report on Friday, investors will turn their focus to corporate earnings, as companies start to report for the first quarter. First quarter earnings are expected to grow by just 0.4 percent for the quarter after rising 7.8 percent in the fourth quarter, according to S&P Capital IQ.

Expectations for the earnings in the first three months are low, in part due to the weather, said Jeff Kleintop, Chief Market Strategist for LPL Financial. However, investors will be looking for signs that companies are expecting revenues to increase during the remainder of the year.

"The question is, did they start to see a reacceleration toward the end of the quarter, as we're seeing in some of this economic data," Kleintop said.

Government bonds fell after the ADP report. The yield on the 10-year Treasury note climbed to 2.80 percent from 2.75 percent on Tuesday and is now at its highest level since January.

In commodities trading, the price of oil fell 12 cents, or 0.1 percent, to $99.62 a barrel. Gold rose $10.80, or 0.9 percent, to settle at $1,290.80 an ounce.

Among stocks making big moves;

”” Apollo Education slumped $3.10, or 8.8 percent, to $32.02 after the company reported revenue that fell short of investor's expectations. The company said new student enrollment at its University of Phoenix fell drank 16.5 percent.

”” MannKind soared $2.97, or 74 percent, to $6.99 after FDA advisers voted unanimously to recommend approval of the drug Afrezza, a fast-acting insulin, for patients with the most common form of diabetes. MannKind has no products on the market and lost more than $191 million last year.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	-0.45	points or ▲	0.00%	on	Thursday, 3 April 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,572.55	▼	-0.45	▲	0.00%		
	Nasdaq____	4,237.74	▼	-38.72	▼	-0.91%		
	S&P_500___	1,888.77	▼	-2.13	▼	-0.11%		
	30_Yr_Bond____	3.62	▼	-0.02	▼	-0.66%		

NYSE Volume	 2,997,861,000 	 	 	 	 	  		 
Nasdaq Volume	 2,046,762,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,649.14	▼	-9.90	▼	-0.15%		
	DAX_____	9,628.82	▲	5.46	▲	0.06%		
	CAC_40__	4,449.33	▲	18.47	▲	0.42%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,415.70	▲	6.90	▲	0.13%		
	Shanghai_Comp	2,043.70	▼	-15.29	▼	-0.74%		
	Taiwan_Weight	8,888.54	▼	-16.91	▼	-0.19%		
	Nikkei_225___	15,071.88	▲	125.56	▲	0.84%		
	Hang_Seng.__	22,565.08	▲	41.14	▲	0.18%		
	Strait_Times.__	3,220.06	▲	27.28	▲	0.85%		
	NZX_50_Index_	5,122.37	▲	6.06	▲	0.12%		

http://finance.yahoo.com/news/us-stocks-slip-hold-close-210831058.html
*
US stocks slip, but hold close to an all-time high
Stocks slip, but hold near record highs amid optimism that the economy is set to strengthen*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The stock market held close to its all-time high on Thursday amid optimism that the economy is set to strengthen.

Stocks are on course for their best weekly gain in seven weeks after investors got more encouraging news on the economy. A survey showed that U.S. service firms increased their business more quickly last month as new orders rose. Separate reports earlier in the week had shown manufacturing strengthening, hiring picking up, and sales of cars and trucks rising.

The news came ahead of the government's monthly jobs report, which will be published Friday. Investors expect to see a strong pickup in hiring. Economists are forecasting that the U.S. economy added 200,000 jobs in March, according to FactSet. That would be the biggest gain in hiring since November.

"If you have a decent economy, a modestly growing economy, that's supportive of corporate earnings and stocks can continue to benefit from that," said John Fox, director of research at Fenimore Asset Management.

The Standard & Poor's 500 index fell 2.13 points, or 0.1 percent, to 1,888.77. The index closed at an all-time high of 1,890 a day earlier after rising for four straight days. The Dow Jones industrial average fell 0.45 point, or less than 0.1 percent, to 16,572.55. The Nasdaq composite fell 38.72 points, or 0.9 percent, to 4,237.74.

Stocks started the day higher after getting a lift from a report on the U.S. service sector, a broad category of businesses that includes banks, transportation and construction.

The Institute for Supply Management's non-manufacturing index rose to 53.1 in March, up from 51.6 in February, indicating that growth in the service sector is picking up. The survey also showed hiring picking up.

However, by midmorning stocks started to drift lower. Investors seemed unwilling to place big bets on the market before Friday's key jobs report.

"Going into the employment report, a lot of people aren't anxious to open new positions," said J.J. Kinahan, chief strategist with TD Ameritrade. "They don't want to be taken by surprise."

Barnes & Noble was among the day's big losers.

The stock fell $2.99, or 13.5 percent, to $19.12 after Liberty Media said it was cutting its stake in the company. Liberty Media, the investment company controlled by billionaire John Malone, gave Barnes & Noble a lifeline in 2011 when it bought a 17 percent stake in the company.

Biotechnology stocks also fell.

After surging at the start of the year, biotech stocks have become volatile amid concerns about the cost of the drugs that they're developing. The S&P's index of biotechnology stocks fell 1.6 percent, paring its gains for the year to about 1.2 percent. The index had been up as much as 13 percent by the end of February.

Google's stock split took effect Thursday.

The technology company's new Class C non-voting shares rose $2.74, or 0.5 percent, to $569.74. Its Class A shares, which retained voting rights, rose $3.40, or 0.6 percent, to $571.50. The Class A shares, which have been traded since the company went public nearly a decade ago, now trade under the ticker symbol "GOOGL." The Class C shares inherited the "GOOG" ticker symbol.

In government bond trading, bond prices rose. The yield on the 10-year Treasury note fell to 2.79 percent from 2.80 percent on Wednesday. The price of oil rose 67 cents, or 0.7 percent, to $100.29 a barrel. Gold fell $6.20, or 0.5 percent, to $1,284.60 an ounce

Among other stocks making big moves:

”” Anadarko Petroleum jumped $12.55, or 14.5 percent, to $99.02 after the company announced that it had reached a $5.15 billion deal to settle claims arising from the 2009 bankruptcy of paints materials maker Tronox. A U.S. bankruptcy court judge said in December that Anadarko Petroleum may be liable for between $5 billion and more than $14 billion in the legal battle.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-159.84	points or ▼	-0.96%	on	Friday, 4 April 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,412.71	▼	-159.84	▼	-0.96%		
	Nasdaq____	4,127.73	▼	-110.01	▼	-2.60%		
	S&P_500___	1,865.09	▼	-23.68	▼	-1.25%		
	30_Yr_Bond____	3.58	▼	-0.04	▼	-1.10%		

NYSE Volume	 3,595,032,500 	 	 	 	 	  		 
Nasdaq Volume	 2,587,384,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,695.55	▲	46.41	▲	0.70%		
	DAX_____	9,695.77	▲	66.95	▲	0.70%		
	CAC_40__	4,484.55	▲	35.22	▲	0.79%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,428.60	▲	12.90	▲	0.24%		
	Shanghai_Comp	2,058.83	▲	15.13	▲	0.74%		
	Taiwan_Weight	8,888.54	▼	-16.91	▼	-0.19%		
	Nikkei_225___	15,063.77	▼	-8.11	▼	-0.05%		
	Hang_Seng.__	22,510.08	▼	-55.00	▼	-0.24%		
	Strait_Times.__	3,212.72	▼	-7.34	▼	-0.23%		
	NZX_50_Index_	5,123.90	▲	1.53	▲	0.03%		

http://finance.yahoo.com/news/tech-stocks-once-highfliers-drop-201613521.html

*Tech stocks, once highfliers, drop; Nasdaq sinks
Traders dump technology stocks, leading to a broad market decline; Nasdaq sinks 2.6 percent*
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- A slump in Internet and other technology stocks pulled the broader market lower Friday, as traders turned on the same companies they flocked to earlier this year. Google, Netflix and other pillars of the Internet economy took a beating.

It was a bad day in an otherwise decent week. The Standard & Poor's 500 index ended the week slightly higher.

Mixed signals in the government's monthly jobs report gave investors little direction Friday. The government said that U.S. employers added more workers to their payrolls last month, but the overall report presented a mixed picture, and the unemployment rate remained at 6.7 percent.

The stock market crept higher to start, began losing steam at lunchtime and then turned lower in the afternoon. The jobs report wasn't the culprit, said Uri Landesman, president of the hedge fund Platinum Management. It was likely the "momentum" traders, he said, people who chased high-flying stocks and are having a change of heart.

Tech stocks had soared over the past year, pushing the Nasdaq composite index up 28 percent, as traders piled into Internet and biotechnology companies. Netflix and Facebook, for instance, doubled in price over that time.

"It's like (traders) took a look at some of these high-flying Internet companies and said, "How can I justify these prices?'" Landesman said.

The technology-heavy Nasdaq composite index plunged 110.01 points, or 2.6 percent, to close at 4,127.73, its biggest one-day drop since February.

The S&P 500 index fell 23.68 points, or 1.3 percent, to 1,865.09. The Dow Jones industrial average dropped 159.84 points, or 1 percent, to 16,412.71.

Utilities, which investors buy to play it safe and collect dividend payments, bucked the overall market and edged higher. Coca-Cola, Johnson & Johnson and other big corporations whose stocks are often less volatile than the broader market also made gains. Coca-Cola climbed 15 cents, or 0.4 percent, to $38.22.

Before the market opened Friday, the Labor Department reported that employers added 192,000 jobs in March. That's less than economists had expected and also below February's total of 197,000. On the bright side, employers added a combined 37,000 more jobs in February and January than the government first estimated. A half-million Americans started looking for work last month, and many of them found jobs.

Earlier in the week, a string of reports on manufacturing and hiring nudged the stock market to its record highs. Robert Pavlik, chief market strategist at Banyan Partners, said many investors have argued that tough winter weather held the economy back at the start of the year and that things would turn around as temperatures rose. The jobs report, Pavlik said, didn't support their case. "A lot of what people have been saying about payrolls isn't true," he said.

Pavlik said he thinks the economy is likely to keep plodding along. With the market trading near record highs, it's hard for him to see any good reason for stocks to climb much higher.

In the bond market Friday, traders pushed Treasury prices up and yields down. The yield on the 10-year Treasury note fell to 2.73 percent from 2.80 percent late Thursday. The price of crude oil rose 85 cents to settle at $101.14 a barrel. Gold gained $18.90 to close at $1,303.50 an ounce, its biggest gain in three weeks.

Among other companies making big moves:

— GrubHub jumped 31 percent in its first day of trading on the New York Stock Exchange. The online food delivery company, which runs the Seamless website, raised $192.5 million in its initial public offering late Thursday, selling shares at $26 each. GrubHub's stock jumped $8 to $34.

— CarMax slumped after the seller of used cars said its quarterly income dropped as an accounting correction outweighed higher demand for cars. The company's stock slumped $2, or 4 percent, to $45.56.

— News that a Swedish drug company rebuffed a merger offer from Mylan, the generic drugmaker, sent Mylan's stock higher. Mylan rose 77 cents, or 2 percent, to $50.63. Meda AB, the Swedish company, didn't explain why its board turned down the proposal.

9078


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-166.84	points or ▼	-1.02%	on	Monday, 7 April 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,245.87	▼	-166.84	▼	-1.02%		
	Nasdaq____	4,079.75	▼	-47.97	▼	-1.16%		
	S&P_500___	1,845.04	▼	-20.05	▼	-1.08%		
	30_Yr_Bond____	3.56	▼	-0.03	▼	-0.75%		

NYSE Volume	 3,766,343,500 	 	 	 	 	  		 
Nasdaq Volume	 2,516,075,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,622.84	▼	-72.71	▼	-1.09%		
	DAX_____	9,510.85	▼	-184.92	▼	-1.91%		
	CAC_40__	4,436.08	▼	-48.47	▼	-1.08%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,416.10	▼	-12.50	▼	-0.23%		
	Shanghai_Comp	2,058.83	▲	15.13	▲	0.74%		
	Taiwan_Weight	8,876.44	▼	-12.10	▼	-0.14%		
	Nikkei_225___	14,808.85	▼	-254.92	▼	-1.69%		
	Hang_Seng.__	22,377.15	▼	-132.93	▼	-0.59%		
	Strait_Times.__	3,193.59	▼	-19.13	▼	-0.60%		
	NZX_50_Index_	5,075.84	▼	-48.06	▼	-0.94%		

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Stocks slump, extending decline from last week
Stocks extend declines, pushing S&P 500 lower for third day; CarMax and Mattel drop*

Associated Press
By Steve Rothwell, AP Markets Writer 

NEW YORK (AP) -- For investors, a volatile stock market passed a worrisome milestone on Monday.

The market logged its longest losing streak in two months, and extended a sell-off that began last week.

After biotechnology and internet stocks pulled the market lower on Friday, it was companies that sell non-essential goods and services that dragged on the market to start the week. Concerns about earnings and sales drove declines. CarMax slumped after the used car dealer reported lower net income, and Mattel dropped on concerns about demand for big-name toys.

Stocks have been volatile this year after surging in 2013. Investors now appear to question whether their lofty prices will be justified by what's expected to be slower growth in first-quarter earnings.

"The markets are struggling to choose a direction," said Joe Tanious, a global market strategist for JPMorgan Funds. "I suspect that this choppiness in the markets is something we are going to be seeing for some time to come."

The Standard & Poor's 500 index fell 20.05 points, or 1.1 percent, to 1,845.04. It has fallen for three straight days, the longest losing span since late January, and has shed 2.4 percent since its all-time high of 1,890.89 on April 2.

The Dow Jones industrial average dropped 166.84 points, or 1.02 percent, to 16,245.87 Monday. The Nasdaq composite had the biggest decline, falling 47.97 points, or 1.2 percent, to 4,079.75.

There were signs of stability in the market. Technology and biotechnology stocks, which were pummeled by investors at the end of last week, were mixed on Monday.

Facebook edged up 20 cents, or 0.4 percent, to $56.95 on Monday after it dropped 4.6 percent Friday.

Netflix, which also slumped last week, gained 69 cents, or 0.2 percent, to $338.

Consumer discretionary stocks ”” companies that sell goods and services that are not necessities for shoppers ”” saw the biggest decline among the S&P 500's 10 sectors.

CarMax slipped $1.88, or 4.1 percent, to $43.68 after the company said late Friday that its fourth-quarter earnings fell. Net income declined as the effects of an accounting correction offset higher demand for its vehicles. The company's revenue also missed Wall Street expectations.

Mattel dropped $1.15, or 2.9 percent, to $38.26 after analysts at BMO Capital cut their outlook for the toy company, citing lower demand for key products such as Barbie dolls and Hot Wheels cars.

Investors will focus more and more on the outlook for corporate earnings this week, as companies begin to announce first-quarter results. Aluminum maker Alcoa, JPMorgan and Wells Fargo are reporting.

Overall, companies in the S&P 500 index are expected to see earnings growth of 0.3 percent over last year's first quarter. That rate of growth, however, is down from 8 percent in the fourth quarter, and would be the lowest since the third quarter 2009, when earnings contracted 1.7 percent, according to S&P Capital IQ.

While the outlook is poor, the low expectations may actually help stocks, because they give companies a lower hurdle to overcome, said Warne.

"The expectations are incredibly low, largely due to the impact of winter weather," said Kate Warne, an investment strategist at Edward Jones.

JPMorgan is expected to report earnings of $1.41 per share for the first quarter on Friday, a decline from earnings of $1.59 per share for the same period a year earlier, according to FactSet data.

Nine of the ten industry groups that make up the S&P 500 index fell Monday. The only sector in the S&P 500 to rise was made up of consumer staples stocks, or companies that sell essential consumer goods. Investors typically buy these stocks when the market slumps.

In government bond trading, the yield on the 10-year Treasury note fell to 2.70 percent from 2.72 percent late Friday. The price of crude oil fell 70 cents, or 0.7 percent, to $100.44 a barrel. Gold fell $5.20, or 0.4 percent, to $1,298.30 an ounce.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	10.27	points or ▲	0.06%	on	Tuesday, 8 April 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,256.14	▲	10.27	▲	0.06%		
	Nasdaq____	4,112.99	▲	33.23	▲	0.81%		
	S&P_500___	1,851.96	▲	6.92	▲	0.38%		
	30_Yr_Bond____	3.54	▼	-0.02	▼	-0.51%		

NYSE Volume	 3,703,318,750 	 	 	 	 	  		 
Nasdaq Volume	 2,178,841,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,590.69	▼	-32.15	▼	-0.49%		
	DAX_____	9,490.79	▼	-20.06	▼	-0.21%		
	CAC_40__	4,424.83	▼	-11.25	▼	-0.25%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,409.20	▼	-6.90	▼	-0.13%		
	Shanghai_Comp	2,098.28	▲	39.45	▲	1.92%		
	Taiwan_Weight	8,888.25	▲	11.81	▲	0.13%		
	Nikkei_225___	14,606.88	▼	-201.97	▼	-1.36%		
	Hang_Seng.__	22,596.97	▲	219.82	▲	0.98%		
	Strait_Times.__	3,204.09	▲	10.50	▲	0.33%		
	NZX_50_Index_	5,031.56	▼	-44.28	▼	-0.87%		

http://finance.yahoo.com/news/us-stocks-rise-first-time-154411651.html

*US stocks rise for the first time in four days

Stocks rise for the first time in four days; Rebound in technology helps lift the market*

Associated Press
By Steve Rothwell, AP Markets Writer 

NEW YORK (AP) -- Maybe the sell-off was a little overdone.

That was the sentiment on Wall Street Tuesday as the stock market broke a three-day losing streak. The gain pushed the Standard & Poor's 500 index back into positive territory for the year.

The rebound was driven partly by bargain-hunting as investors picked up stocks that hold fallen the most in the slump over the previous three days. Utilities stocks also rose sharply as skittish investors bought less volatile stocks.

"Longer-term investors should really use this as an opportunity to buy attractive areas that have sold off," said Kristina Hooper, US Investment Strategist at Allianz Global Investors. "For them, stocks are on sale."

Stocks have had a volatile start to April. After closing at a record last Wednesday amid optimism about the improving outlook for the economy, stocks fell sharply on Friday as investors decided that some of the high-flying stocks in the technology and biotech sectors no longer justified their lofty valuations.

The S&P 500 rose 6.92 points, or 0.4 percent, to 1,851.96. The Dow Jones industrial average climbed 10.27 points, or 0.06 percent, to 16,256.14. The Nasdaq composite rose 33.23 points, or 0.8 percent, to 4,112.99.

Even as investors sent stocks higher, they were still being cautious. Investors typically buy utilities stocks when they are worried about volatility in the market. That's because those companies pay big dividends and demand for the power they generate tends to be stable, regardless of how the economy is doing.

On Tuesday, the utilities sector rose 1.5 percent. The sector has gained 10.5 percent this year, making it by far the best performing industry group in the S&P 500. Health care stocks are the next best performers, gaining 2.7 percent over the same period.

Technology stocks and consumer discretionary stocks, among the biggest decliners in the three-day sell-off, also logged gains on Tuesday.

Facebook rose $1.24, or 2.2 percent, to $58.19. Google's class newly issued C shares rose $16.75, or 3.1 percent, to $554.90.

The recent volatility is making it tough for investors who are looking to get back into stocks after switching their investments to cash and bonds in the aftermath of the financial crisis and the Great Recession, said Mike Mussio, a managing director with FBB Capital Partners, a wealth management company.

"It is a little nerve-wracking for people entering the market just now, with cash they've had on the sidelines," said Mussio.

Corporations start reporting first-quarter earnings this week, which should help stabilize the market, said Joe Quinlan, chief market strategist at U.S. Trust. Quinlan attributed the stock market's recent wobble to investor's jitters ahead of corporate earnings.

Overall, corporate earnings are forecast to grow just 0.2 percent in the first quarter compared with the same period a year ago, according to S&P Capital IQ. That would be the weakest showing since the third quarter of 2009, when earnings contracted 1.7 percent.

"Seems like every time we come up to earnings season we get a little nervous," Quinlan said. "This will pass."

Energy company Chevron, and banks Wells Fargo and JPMorgan will report their earnings for the first quarter this week, as will Bed Bath & Beyond.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.68 percent from 2.70 percent on Monday.

Among other stocks making big moves:

”” Whole Foods Market gained $1.09, or 2.2 percent, to $51.38 after analysts at UBS raised their price target for the stock to $70 from $62. The analysts are optimistic that the high-end grocery store chain will be able to increase its profit margins as it expands.

””Gilead Sciences fell $2.22, or 3.1 percent, to $70.01 following reports that Express Scripts, the largest U.S. pharmacy benefits manager, plans to ask its clients to join a coalition that would stop using Gilead's Sovaldi Hepatitis C treatment once a rival medicine is approved for the U.S. next year. Express Scripts estimates that U.S. spending on Hepatitis C medications will surge 1,800 percent in 2016. Lawmakers last month have already questioned the pricing of Gilead's new drug.

”” Dr. Pepper Snapple Group fell $2.06, or 3.8 percent, to $51.62 after Wells Fargo Securities cut their outlook for the company's earnings. The analysts say that the stock has peaked and that the company has limited opportunities to further increase productivity and that its beverages are continuing to lose market share.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	181.04	points or ▲	1.11%	on	Wednesday, 9 April 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,437.18	▲	181.04	▲	1.11%		
	Nasdaq____	4,183.90	▲	70.91	▲	1.72%		
	S&P_500___	1,872.18	▲	20.22	▲	1.09%		
	30_Yr_Bond____	3.57	▲	0.02	▲	0.71%		

NYSE Volume	 3,288,448,750 	 	 	 	 	  		 
Nasdaq Volume	 1,939,416,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,635.61	▲	44.92	▲	0.68%		
	DAX_____	9,506.35	▲	15.56	▲	0.16%		
	CAC_40__	4,442.68	▲	17.85	▲	0.40%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,460.30	▲	51.10	▲	0.94%		
	Shanghai_Comp	2,105.24	▲	6.95	▲	0.33%		
	Taiwan_Weight	8,930.57	▲	42.32	▲	0.48%		
	Nikkei_225___	14,299.69	▼	-307.19	▼	-2.10%		
	Hang_Seng.__	22,843.17	▲	246.20	▲	1.09%		
	Strait_Times.__	3,211.72	▲	7.63	▲	0.24%		
	NZX_50_Index_	5,067.41	▲	35.85	▲	0.71%		

http://finance.yahoo.com/news/us-stocks-rally-fed-minutes-211318800.html

*US stocks rally on Fed minutes, earnings news
Encouraging signals from the Federal Reserve on interest rates send stocks sharply higher*
Associated Press
By Ken Sweet, AP Markets Writer

NEW YORK (AP) -- Once again, it was the Federal Reserve to the rescue for the stock market.

Major U.S. indexes rose broadly Wednesday, helped by a report out of the nation's central bank that showed Fed policymakers want to be absolutely certain the U.S. economy had recovered before starting to raise interest rates.

Confident that the Fed won't be raising rates until sometime next year, investors once again embraced some of the market's more risky names. Biotechnology and technology stocks, beaten down over the past week, were among the biggest gainers.

Wednesday's trading had one broad theme: risk on. Investors sold utility and telecommunications stocks ”” which are usually less volatile, rich-dividend companies ”” and piled into areas that typically benefit from a growing economy: materials makers, industrial companies and technology stocks.

The Dow Jones industrial average rose 181.04 points, or 1.1 percent, to 16,437.18. The Standard & Poor's 500 index jumped 20.22 points, or 1.1 percent, to 1,872.18 and the technology-heavy Nasdaq composite rose the most, up 70.91 points, or 1.7 percent, to 4,183.90.

Facebook rose the most in the S&P 500, jumping 7.3 percent, followed closely by biotech company Vertex Pharmaceuticals, up 7 percent. Other names that saw renewed investor interest were biotech companies Boston Scientific, Biogen and Celgene and in technology, Priceline, Red Hat and ETrade.

The Dow Jones Transportation Average jumped 1.6 percent. Investors closely watch the "Dow Transports," as the index is nicknamed, on the theory that a growing economy will mean companies will have to ship more products, increasing the profits of transportation companies like airlines, railroads and trucking companies.

At their March policy meeting, Fed policymakers debated over when the bank should start raising interest rates. Traditionally the Fed's main policy tool for regulating the U.S. economy, short-term rates have been near zero since 2008 in an effort to encourage borrowing and economic growth, all of which is good for stocks.

Now that the economy has mostly recovered from the recession, an increasing number of policymakers believe it's time for the Fed to start raising rates. The question is when.

"We know higher interest rates are coming, but we don't know exactly when, whether it's 2015 or 2016," said Tom di Galoma, head of fixed income rates at ED&F MAN Capital Markets.

Investors always keep a close eye on the Fed, but they're particularly sensitive these days because the central bank is in the process of winding down its economic stimulus policies. Investors worry that the bank might act too quickly and choke off the economic recovery.

The Dow soared 192 points on Feb. 11 after Janet Yellen, in her first public comments since taking over as head of the Fed from Ben Bernanke, said she would continue the Fed's market-friendly, low-interest rate policies.

Confident that interest rates and inflation would remain low, investors bought bonds Wednesday, particularly bonds that have shorter maturities. The yield on the two-year Treasury note dropped to 0.36 percent from 0.39 percent late Tuesday, a relatively big move for that security. Yields on the three-year and five-year notes made similar moves.

Investors also got a dose of good news from Corporate America.

Aluminum giant Alcoa reported an adjusted first-quarter profit that was well ahead of analysts' forecasts. The aluminum maker is typically the first large U.S. corporation to report its results every quarter. Alcoa rose 47 cents, or 4 percent, to $13.

Alcoa's results helped push other mining and materials stocks higher. U.S. Steel rose 3 percent; industrial parts company W.W. Grainger climbed 2 percent and the auto parts company Delphi increased 3 percent.

Investors expect that corporate earnings for the first three months of the year will be held back by the severe winter weather that plagued most of the country. Earnings are expected to fall 1.6 percent from a year earlier, according to financial data provider FactSet. If that forecast proves correct, it would be the first time corporate profits have fallen since the third quarter of 2012.

"We're going to see lousy results, but I think we'll still see optimistic forecasts from companies," said Jack Ablin, chief investment officer with BMO Private Bank in Chicago. "Companies lost a lot of business in the first couple months of the year, but most of that business, I suspect, will come back."

In other company news:

”” Intuitive Surgical, the maker of robotic surgical equipment, slumped $33.20, or 7 percent, to $456.64. The company warned that first-quarter sales would be drastically lower than previously expected.

”” La Quinta Holdings, the parent company of the hotel chain La Quinta Inns, rose 12 cents, or 0.7 percent, to $17.12 on its first day of trading. La Quinta is owned by the private equity firm Blackstone Group and was taken public this week in a $650 million IPO.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-266.96	points or ▼	-1.62%	on	Thursday, 10 April 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,170.22	▼	-266.96	▼	-1.62%		
	Nasdaq____	4,054.11	▼	-129.79	▼	-3.10%		
	S&P_500___	1,833.08	▼	-39.10	▼	-2.09%		
	30_Yr_Bond____	3.50	▼	-0.06	▼	-1.74%		

NYSE Volume	 3,736,002,500 	 	 	 	 	  		 
Nasdaq Volume	 2,384,974,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,641.97	▲	6.36	▲	0.10%		
	DAX_____	9,454.54	▼	-51.81	▼	-0.54%		
	CAC_40__	4,413.49	▼	-29.19	▼	-0.66%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,477.50	▲	17.20	▲	0.32%		
	Shanghai_Comp	2,134.30	▲	29.06	▲	1.38%		
	Taiwan_Weight	8,948.10	▲	17.53	▲	0.20%		
	Nikkei_225___	14,300.12	▲	0.43	▲	0.00%		
	Hang_Seng.__	23,186.96	▲	343.79	▲	1.51%		
	Strait_Times.__	3,204.10	▼	-5.82	▼	-0.18%		
	NZX_50_Index_	5,115.49	▲	48.08	▲	0.95%		

http://finance.yahoo.com/news/biote...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Biotech drops again, pulling down market
Stocks drop as investors dump biotech, other former favorites; Nasdaq has worst day since 2011*
Associated Press
By Matthew Craft, AP Business Writer 

NEW YORK (AP) -- Biotech and Internet stocks tumbled again Thursday, and the broader market followed.

After a two-day respite, investors again started dumping shares of cutting-edge drug companies and other industries that have soared over the past year. Biotechnology stocks have turned volatile in recent weeks as regulators scrutinize the cost of their drugs and investors worry their earnings won't justify lofty stock prices. Investors are also worried that high-growth companies like Twitter and Facebook have become too expensive.

On Thursday, the Nasdaq composite, which is weighted heavily toward tech and biotech companies, had its worst day since November 2011.

The rout started slowly and picked up speed throughout the day. By the close, the tech-heavy Nasdaq composite index had its worst day since November 2011. Few companies escaped the sell-off. Of the Nasdaq's 100 largest stocks, only one, C.H. Robinson Worldwide, a freight company, ended higher.

The Nasdaq ended the day down 129.79 points, or 3.1 percent, to 4,054.11. It is now down 7 percent from its recent high reached March 5.

Other major index also fell, but not as much.

The Standard & Poor's 500 index dropped 39.10 points, or 2.1 percent, to close at 1,838.08. The Dow Jones industrial average lost 266.96 points, or 1.6 percent, to 16,170.22.

Biogen Idec, Gilead Sciences and other biotech companies plunged. Facebook and Twitter, other recent investor favorites, also dropped.

The sudden downfall of these former high-flyers comes as investors shift from riskier investments to safer areas like utilities, health care and consumer staples. The sell-off in these former darlings, whose stock prices appealed to investors because their rise seemed unstoppable, has weighed on the overall market, especially the Nasdaq.

Gilead Sciences slid $5.17, or 7 percent, to $65.48 on Thursday. Biogen Idec dropped $13.33, or 4 percent, to $287.35. Both roughly doubled in value last year.

Facebook, another stock that doubled last year, sank $3.25, or 5 percent, to $59.16.

The market's drop wiped out gains made earlier in the week. On Wednesday, minutes from the Federal Reserve's latest meeting reassured investors that the central bank wasn't in a hurry to raise interest rates. The S&P 500 had its best day in a month.

Brad McMillan, Chief Investment Officer for Commonwealth Financial, said it seems like investors had been searching for a reason to push the market up. "But there's no compelling story," he said. "Without a catalyst to move the market higher, people are going to start questioning their assumptions."

Weaker sales at Bed Bath & Beyond drove the company's stock down $4.19, or 6 percent, to $63.72. The company reported a drop in quarterly revenue and profit late Wednesday. Like many other retailers, Bed Bath & Beyond laid some of the blame on cold winter weather for keeping customers at home.

Among the handful of winners Thursday was Rite Aid, which surged after the retailer turned in quarterly results that topped analysts' expectations. Rite Aid also announced the acquisition of RediClinic and said it plans to expand the Texas chain of health clinics. The company's stock gained 54 cents, or 8 percent, to $6.94.

In government bond trading, the yield on the 10-year Treasury note dipped to 2.63 percent from 2.69 percent late Wednesday. The price of crude oil fell 20 cents to close at $103.40 a barrel. Gold climbed $14.60 to settle at $1,320.50 an ounce.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-143.47	points or ▼	-0.89%	on	Friday, 11 April 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,026.75	▼	-143.47	▼	-0.89%		
	Nasdaq____	3,999.73	▼	-54.37	▼	-1.34%		
	S&P_500___	1,815.69	▼	-17.39	▼	-0.95%		
	30_Yr_Bond____	3.48	▼	-0.03	▼	-0.74%		

NYSE Volume	 3,743,274,000 	 	 	 	 	  		 
Nasdaq Volume	 2,221,389,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,561.70	▼	-80.27	▼	-1.21%		
	DAX_____	9,315.29	▼	-139.25	▼	-1.47%		
	CAC_40__	4,365.86	▼	-47.63	▼	-1.08%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,423.50	▼	-54.00	▼	-0.99%		
	Shanghai_Comp	2,130.54	▼	-3.76	▼	-0.18%		
	Taiwan_Weight	8,908.05	▼	-40.05	▼	-0.45%		
	Nikkei_225___	13,960.05	▼	-340.07	▼	-2.38%		
	Hang_Seng.__	23,003.64	▼	-183.32	▼	-0.79%		
	Strait_Times.__	3,196.96	▼	-6.62	▼	-0.21%		
	NZX_50_Index_	5,091.43	▼	-24.06	▼	-0.47%		

http://finance.yahoo.com/news/stocks-fall-jitters-over-earnings-220012990.html

*Stocks fall on jitters over earnings, tech rout

Stocks drop for 2nd day on jitters over earnings, tech rout; Nasdaq down for 3rd week in a row*
Associated Press
By Bernard Condon, AP Business Writer

NEW YORK (AP) -- Investors drove the stock market lower for a second straight day Friday as they grew anxious that earnings growth was faltering.

Weaker earnings at JPMorgan Chase dragged bank stocks lower. And big drops in once-soaring tech stocks pushed the Nasdaq composite down for a third week.

"The market has been trying to come back, but each time the selling just picks up," said Quincy Krosby, a market strategist at Prudential. "The buyers are just not stepping in."

So much for buying on the dip.

Stocks fell from the open on news that JPMorgan had missed analysts' earnings estimates. Investors, who were worried that technology shares were overvalued, dumped those for a second day, with some of the biggest gainers of late falling sharply. Facebook fell 1.1 percent, after a 5 percent drop on Thursday.

The first-quarter earnings season has just started, but investors already seem anxious about what lies ahead. Financial analysts expect earnings for companies in the Standard & Poor's 500 index to drop 1.6 percent from a year earlier, according to FactSet, a financial data provider. At the start of the year, they expected a jump of 4.3 percent.

If profits do fall, it would be only the second quarterly drop in three years.

"Earnings are going to come in on the sloppy side," said Peter Cardillo, chief market economist at Rockwell Global Capital. "The market needs to correct," he added, referring to sharp downturn in stocks.

On Friday, the Nasdaq dropped 54.37 points, or 1.3 percent, to 3,999.73. It was only the second time this year the index has closed below the 4,000 mark.

The Dow Jones industrial average fell 143.47 points, or 0.89 percent, to 16,026.75. The S&P 500 fell 17.39 points, or 0.95 percent, to 1,815.69.

All ten industry sectors in the S&P 500 dropped. Consumer discretionary stocks fell the most, down 1.4 percent, followed by technology stocks, down 1.2 percent.

Last year, earnings for S&P 500 companies rose 6 percent, a decent showing. Stocks rose much faster — up nearly 30 percent for the index. Helping stocks rise was the Federal Reserve bond buying designed to stimulate the economy.

"Investors haven't worried about earnings because it hasn't mattered. Fundamentals haven't mattered," said Prudential's Krosby. "All that has mattered ... is what is the Federal Reserve was going to do."

She said a so-called correction in indexes — a drop of 10 percent from highs — would be healthy for the market, giving its sturdier base on which to rally.

The Nasdaq is already well on its way. It is now 8 percent below its recent high in March. The S&P 500 is 4 percent off its recent high on April 2.

Among tech stocks making big moves Friday, Netflix fell 2.4 percent, Amazon, 1.7 percent and Google's new Class C shares, 1.9 percent.

On Friday, JPMorgan Chase fell $2.10, or 3.7 percent, to $55.30. The nation's biggest bank by assets said its earnings slid 20 percent in the first quarter as revenue from bond trading and mortgage lending declined.

"They're just struggling to grow, and then they didn't have the strength out of the investment bank to help offset that," said Shannon Stemm, financial services analyst for Edward Jones. "All around, it's just a lackluster quarter for them."

Other stock making news:

— General Motors dropped $1.18, or 3.5 percent, to $32.12 after it said it must fix a second ignition part in compact cars it is recalling for switch problems. It said the fix will boost its first-quarter recall costs above $1 billion.

— Gap Inc. fell 89 cents, or 2.3 percent, to $38.40. The San Francisco-based company, which owns the Gap, Banana Republic and Old Navy brands, said revenue for stores open at least a year fell 6 percent.

— Zoe's Kitchen, a restaurant chain, soared 65 percent in its trading debut. The stock gained $9.72 to $24.72.

Treasury prices rose. The yield on the benchmark 10-year Treasury note fell to 2.62 percent from 2.65 percent late Thursday.

9820


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	146.49	points or ▲	0.91%	on	Monday, 14 April 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,173.24	▲	146.49	▲	0.91%		
	Nasdaq____	4,022.69	▲	22.96	▲	0.57%		
	S&P_500___	1,830.61	▲	14.92	▲	0.82%		
	30_Yr_Bond____	3.48	▲	0.01	▲	0.20%		

NYSE Volume	 3,097,442,000 	 	 	 	 	  		 
Nasdaq Volume	 1,858,686,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,583.76	▲	22.06	▲	0.34%		
	DAX_____	9,339.17	▲	23.88	▲	0.26%		
	CAC_40__	4,384.56	▲	18.70	▲	0.43%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,353.60	▼	-69.90	▼	-1.29%		
	Shanghai_Comp	2,131.54	▲	1.00	▲	0.05%		
	Taiwan_Weight	8,857.42	▼	-50.63	▼	-0.57%		
	Nikkei_225___	13,910.16	▼	-49.89	▼	-0.36%		
	Hang_Seng.__	23,038.80	▲	35.16	▲	0.15%		
	Strait_Times.__	3,214.83	▲	16.61	▲	0.52%		
	NZX_50_Index_	5,063.54	▼	-27.89	▼	-0.55%		

http://finance.yahoo.com/news/us-stocks-recover-ground-retail-210955674.html

*US stocks recover some ground on retail sales 

US stocks recover some lost ground after rough week as retail sales, Citi earnings lift market*
Associated Press
By Alex Veiga, AP Business Writer

U.S. stocks mounted a modest rally on Monday, helping investors recover some of the ground lost after a rough finish last week.

Investors were bracing for another round of discouraging earnings and a third consecutive loss for the stock market. But the market pushed higher from the get-go Monday, receiving a boost from solid earnings from Citigroup and a strong pickup in retail sales last month.

Among the stocks that rose sharply were WebMD, Edwards Lifesciences and Goodrich Petroleum.

Stocks rose after the Commerce Department reported that retail sales increased 1.1 percent in March, the best gain since September 2012. The government also revised February's figure to a 0.7 percent gain, more than double its previous estimate.

Sales improved particularly in the second half of March, as unusually cold weather that gripped much of the country this winter began to ease, motivating more people to go out and spend money.

"As we look forward, the consumer may continue to (spend) and may continue to drive the economy overall," said J.J. Kinahan, chief strategist with TD Ameritrade.

Citigroup helped stoke the rally. The bank reported a 2.5 percent jump in first-quarter profit as both income and revenue beat Wall Street's expectations. That was a welcome surprise following an earnings miss last week by JPMorgan Chase. A positive earnings outlook from health information portal WebMd also helped.

The gains faded somewhat late in the afternoon. The Nasdaq composite slipped briefly into negative territory, harking back to last week's sharp drop in Internet and biotechnology stocks.

A wave of buying in the last half-hour of trading pushed the Nasdaq and other indexes to solid gains for the day. It was the market's first finish in the green since April 9.

The Standard & Poor's 500 index gained 14.92 points, or 0.8 percent, to close at 1,830.61. All ten industry sectors in the S&P 500 increased, led by energy stocks, which rose 1.3 percent.

The Dow Jones industrial average added 146.49 points, or 0.9 percent, to 16,173.24. The Nasdaq composite rose 22.96 points, or 0.6 percent, to 4,022.69.

While they recovered some of their losses from last week, all three indexes remain down for the month and the year.

Monday's rally was a positive start for the market in a week that promises to provide investors with plenty of insight into the health of Corporate America and the U.S. consumer.

"For the rest of the week I would actually expect a little bit of volatility," said Kinahan. "You have some big names coming out this week that will really set the trend of not only the U.S. but what's going on worldwide."

Investors will hear from several members of the Federal Reserve, including Fed Chair Janet Yellen.

Among the major companies due to report earnings this week are Johnson & Johnson, Google, General Electric and UnitedHealth.

Analysts still expect first-quarter earnings for companies in the Standard & Poor's 500 to decline 1.6 percent from a year earlier, according to FactSet, a financial data provider. If profits do fall, it would be only the second quarterly drop in three years.

"The expectations have been set so low that there are upside surprises out there," said Randy Frederick, managing director of trading at Schwab Center for Financial Research. "If they are big enough stocks and they're a big component of an index then they may well push that index up shortly. But the question is will people just buy them and hang on to them or will they take profits?"

Among the stocks making news Monday:

”” Medical device maker Edwards Lifesciences rose the most of any stock in the S&P 500 index. A federal judge on Friday reaffirmed an earlier ruling that Medtronic's CoreValve system infringes on Edwards' patent for a replacement heart valve. Edwards soared $8.03, or 11 percent, to $81. Medtronic fell $1.12, or 1.9 percent, to $58.08.

”” Intuitive Surgical was the S&P 500 index's biggest decliner. It shed $14.63, or 3.3 percent, to $425.

”” Citigroup surged $1.99, or 4.4 percent, to $47.67.

”” Health website operator WebMD jumped $6.20, or 16.5 percent, to $43.87.

Bond prices fell slightly. The yield on the 10-year Treasury note inched up to 2.65 percent from 2.63 percent late Friday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	89.32	points or ▲	0.55%	on	Tuesday, 15 April 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,262.56	▲	89.32	▲	0.55%		
	Nasdaq____	4,034.16	▲	11.47	▲	0.29%		
	S&P_500___	1,842.98	▲	12.37	▲	0.68%		
	30_Yr_Bond____	3.46	▼	-0.02	▼	-0.69%		

NYSE Volume	 3,715,068,000 	 	 	 	 	  		 
Nasdaq Volume	 2,361,395,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,541.61	▼	-42.15	▼	-0.64%		
	DAX_____	9,173.71	▼	-165.46	▼	-1.77%		
	CAC_40__	4,345.35	▼	-39.21	▼	-0.89%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,380.30	▲	26.70	▲	0.50%		
	Shanghai_Comp	2,101.60	▼	-29.94	▼	-1.40%		
	Taiwan_Weight	8,916.71	▲	59.29	▲	0.67%		
	Nikkei_225___	13,996.81	▲	86.65	▲	0.62%		
	Hang_Seng.__	22,671.26	▼	-367.54	▼	-1.60%		
	Strait_Times.__	3,246.32	▲	31.49	▲	0.98%		
	NZX_50_Index_	5,076.29	▲	12.75	▲	0.25%		

http://finance.yahoo.com/news/us-stock-markets-rebounds-choppy-213802517.html
*
US stock markets rebounds after choppy day

US stocks rebound from midday slump, extending modest gains for second day*

Associated Press
By Alex Veiga, AP Business Writer

A stock market swoon turned into a comeback Tuesday.

Stocks managed a late-afternoon rebound for the second time in two days as investors seemed to brush off a report of lower confidence among homebuilders and simmering tensions in the Ukraine.

The late rally even gave a lift to tech stocks like Google and Intel, which had weighed on the market much of the day.

"As long as the market can close on a positive note, it sends a signal to investors that there are bargains in the market still to be had," said Quincy Krosby, market strategist at Prudential Financial.

The day started off well when Johnson & Johnson and Coca-Cola reported encouraging first-quarter earnings.

But the strong beginning fell apart by late morning, when investors got a look at the latest measure of U.S. homebuilders' confidence in the housing market at 10 a.m. Eastern time. Builders saw overall sales conditions as poor, even though they expected improvement over the spring and summer.

The morning slide didn't hold, however. By the end of the day, the Standard & Poor's 500 index rose 12.37 points, or 0.7 percent, to 1,842.98.

All ten industry sectors in the S&P 500 increased, led by utilities.

The Dow Jones industrial average added 89.32 points, or 0.6 percent, to 16,262.56. The Nasdaq composite rose 11.47 points, or 0.3 percent, to 4,034.16.

All three indexes remain down for the month and year.

The Russell 2000 index of small-company stocks, which had been down more than 1 percent earlier in the day, ended higher. The index is still off 3.8 percent for the year, more than the other major indexes. It's also down more than 7 percent from its recent peak of 1,208 on March 4.

Small-company stocks have been racking up losses over the past five weeks, as investors look to reduce their exposure to risk. That's a turnaround from last year, when the Russell soared 37 percent versus 30 percent for the S&P 500 index.

The stock market has been losing ground in recent weeks as investors worry about whether some tech stocks became overpriced.

"There still seems to be some concern about valuation in some corners of the market, especially some of the more high-flying names that had run pretty far, pretty fast, and that's putting an overall weight on the market," said Brad Sorensen, director of market and sector analysis at the Schwab Center for Financial Research.

Traders also remain focused on what the latest wave of quarterly earnings will say about the health of the U.S. economy and companies.

After regular trade ended Tuesday, Yahoo soared 8 percent and Intel rose 1 percent. The two tech giants reported earnings that beat analysts' expectations.

Several major companies, including Google, American Express, Bank of America and IBM were due to report results on Wednesday.

"We're looking for healthy earnings growth and so far, we're getting it," said Anastasia Amoroso, global market strategist at JPMorgan Chase.

Not all stocks managed to end in the green.

Most homebuilder shares slumped, with M/I Homes among the biggest decliners. The builder fell 38 cents, or 1.7 percent, to $22.11.

PetSmart posted the steepest drop among companies in the S&P 500 index after an analyst downgraded the stock, saying new competition in pet care will create trouble for the retailer. The stock fell $2.76, or 4 percent, to $66.61.

TripAdvisor led all the risers in the S&P 500 index, gaining $3.53, or 4.4 percent, to $83.30.

Coca-Cola rose $1.45, or 3.7 percent, to $40.18 after it reported that strong sales of noncarbonated drinks helped offset a first-quarter decline in soda.

Johnson & Johnson rose $2.06, or 2.1 percent, to $99.20 after the world's biggest maker of health care products topped Wall Street expectations and raised its earnings outlook.

In Europe, Ukraine sent tanks and troops to reclaim government buildings being occupied by pro-Russian gunmen in the eastern part of the country. European governments have accused Russia of instigating the activists, raising the prospect of escalating violence and more sanctions against Moscow, possibly affecting the valuable energy trade

Europe's markets fared worse on Tuesday. Germany's DAX fell 1.8 percent while France's CAC 40 dropped 0.9 percent.

In government bond trading, the yield on the 10-year Treasury note slipped to 2.63 percent from 2.65 percent late Monday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	162.29	points or ▲	1.00%	on	Wednesday, 16 April 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,424.85	▲	162.29	▲	1.00%		
	Nasdaq____	4,086.23	▲	52.06	▲	1.29%		
	S&P_500___	1,862.31	▲	19.33	▲	1.05%		
	30_Yr_Bond____	3.45	▼	-0.01	▼	-0.17%		

NYSE Volume	 3,126,718,000 	 	 	 	 	  		 
Nasdaq Volume	 1,829,538,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,584.17	▲	42.56	▲	0.65%		
	DAX_____	9,317.82	▲	144.11	▲	1.57%		
	CAC_40__	4,405.66	▲	60.31	▲	1.39%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,412.60	▲	32.30	▲	0.60%		
	Shanghai_Comp	2,105.12	▲	3.52	▲	0.17%		
	Taiwan_Weight	8,923.82	▲	7.11	▲	0.08%		
	Nikkei_225___	14,417.68	▲	420.87	▲	3.01%		
	Hang_Seng.__	22,696.01	▲	24.75	▲	0.11%		
	Strait_Times.__	3,253.20	▲	6.88	▲	0.21%		
	NZX_50_Index_	5,090.55	▲	14.26	▲	0.28%		

http://finance.yahoo.com/news/us-stocks-close-higher-third-211846434.html

*US stocks close higher for third day in a row

US company earnings, encouraging economic data propel third straight day of gains for stocks*
Associated Press
By Alex Veiga, AP Business Writer.

Investors drove stock prices to their highest level in a week Wednesday, encouraged by a crop of corporate earnings and reassuring U.S. and Chinese economic data.

Major U.S. stock indexes notched their third day of gains in a row. Yahoo and Delta Air Lines were among the companies posting big gains. The gains were broad; for every stock that declined, nearly four rose.

The market is coming back from a steep drop at the end of last week led by Internet and biotechnology stocks. That move away from some of the riskier, high-priced stocks that drove down the market is nearly, if not completely done now, said Jim Russell, senior equity strategist at U.S. Bank Wealth Management.

"We did think that last week's downside volatility would be limited, and we're very heartened to see a rebound for the first three days this week," he said.

Stocks started climbing from the opening bell on Wednesday as investors cheered the latest quarterly earnings report from Yahoo. The Web pioneer reported late Tuesday that it is making most of its money from its stakes in two Asian Internet companies: China's Alibaba Group and Yahoo Japan.

The market also welcomed a Chinese government report showing that the world's second-largest economy grew 7.4 percent from a year earlier in the January-March quarter. A favorable report on U.S. factory production helped keep investors in a buying mood.

Unlike Monday and Tuesday, the rally didn't falter during the day. Instead, the buying gained momentum in the afternoon after the Federal Reserve said its latest survey showed economic growth picking up across most of the U.S. over the past two months as bitter winter weather subsided.

"Yesterday was just a crazy day. We were all over the map, and finally today we are showing some strength," said Erik Davidson, deputy chief investment officer of Wells Fargo Private Bank.

All told, the Standard & Poor's 500 index rose 19.33 points, or 1.1 percent, to 1,862.31. All ten industry sectors in the S&P 500 increased, led by industrial stocks, including several airlines and transportation companies.

The Dow Jones industrial average added 162.29 points, or 1 percent, to 16,424.85. The Nasdaq composite rose 52.06 points, or 1.3 percent, to 4,086.22.

The three major stock indexes are each up for the week, but remain down for the month after several days of choppy trading. The three-day rise in stock prices helped push the S&P 500 index up 0.8 percent so far this year.

Investors are closely monitoring company earnings this week as they try to assess whether the impact of a severe winter has begun to ease. Financial analysts expect first-quarter earnings for companies the S&P 500 to fall about 1.2 percent, according to S&P Capital IQ.

"It's not like things are all hunky-dory with the economy, with profits, with revenue, and yet we keep clearing relatively low bars," Davidson said.

Google and IBM fell sharply in after-hours trading after their quarterly results disappointed investors.

Google's newly issued Class C stock fell $32.54, or 6 percent, to $524 after the company reported that its growth faltered as online advertising prices continued to fall. IBM's stock fell $7.45, or 4 percent, to $189 after reporting that its revenue fell from a year ago and came in below what analysts were expecting.

Technology stocks have come under selling pressure in recent weeks as investors question whether the sector has become too expensive. Even after a recent sell-off that brought the tech-heavy Nasdaq composite 6 percent below its recent peak reached Mar. 5, the index is still up 25 percent over the past year, versus 18 percent for the S&P 500.

Yahoo topped the gainers in the S&P 500. The stock jumped $2.14, or 6.3 percent, to $36.35.

Several airline stocks were also among the market's big risers: Delta Air Lines added $1.71, or 5.4 percent, to $33.62, while JetBlue rose 49 cents, or 6 percent, to $8.80. American Airlines rose $1.79, or 5.3 percent, to $35.51.

Among other the stocks making news Wednesday:

”” Bank of America fell 2 percent after booking $6 billion in legal costs over its home loan practices. The stock fell 26 cents to $16.13.

”” CSX fell 50 cents, or 1.8 percent, to $27.79. Severe winter weather contributed to a 14 percent drop in the railroad company's first-quarter earnings.


----------



## bigdog

*U.S. stock markets will be closed in observance of Good Friday.*

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-16.31	points or ▼	-0.10%	on	Thursday, 17 April 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,408.54	▼	-16.31	▼	-0.10%		
	Nasdaq____	4,095.52	▲	9.29	▲	0.23%		
	S&P_500___	1,864.85	▲	2.54	▲	0.14%		
	30_Yr_Bond____	3.52	▲	0.06	▲	1.82%		

NYSE Volume	 3,305,020,750 	 	 	 	 	  		 
Nasdaq Volume	 1,928,693,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,625.25	▲	41.08	▲	0.62%		
	DAX_____	9,409.71	▲	91.89	▲	0.99%		
	CAC_40__	4,431.81	▲	26.15	▲	0.59%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,444.80	▲	32.20	▲	0.59%		
	Shanghai_Comp	2,098.88	▼	-6.24	▼	-0.30%		
	Taiwan_Weight	8,944.16	▲	20.34	▲	0.23%		
	Nikkei_225___	14,417.53	▼	-0.15	▲	0.00%		
	Hang_Seng.__	22,760.24	▲	64.23	▲	0.28%		
	Strait_Times.__	3,253.80	▲	0.60	▲	0.02%		
	NZX_50_Index_	5,103.35	▲	12.80	▲	0.25%		

http://finance.yahoo.com/news/us-stock-market-ends-higher-213818112.html

*US stock market ends higher as earnings pour in

US stocks edge mostly higher amid wave of earnings; GE and Morgan Stanley rise*

Associated Press
By Alex Veiga, AP Business Writer 

Corporate earnings pushed U.S. stocks mostly higher on Thursday, but it wasn't an easy ride up.

The stock market appeared set in the morning for its fourth consecutive positive open, but immediately turned negative as investors sold shares in Google and IBM. The market heavyweights reported disappointing earnings late Wednesday. Earnings from toy maker Mattel and insurer UnitedHealth also dragged down stocks.

But by midmorning, the market started to push higher as traders cheered upbeat results from Morgan Stanley, General Electric and PepsiCo.

"We were expecting this earnings season to be pretty volatile, and it's proven to be true so far, in that we're seeing some differences in the results," said Paul Mangus, head of equity research and strategy for Wells Fargo Private Bank.

The Standard & Poor's 500 index rose two points, or 0.1 percent, to close at 1,864.85. Seven of the 10 industry sectors in the S&P 500 gained, led by energy stocks. The Nasdaq added nine points, or 0.2 percent, to finish at 4,095.52. The Dow Jones industrial average, however, fell 16 points, or 0.1 percent, to close at 16,408.54, hurt by the big drop in IBM.

U.S. stock markets will be closed in observance of Good Friday.

Bond prices fell, pushing up the yield on the 10-year Treasury note to 2.72 percent from 2.63 percent late Wednesday.

After selling off Internet and biotechnology companies last week on concerns the stocks were overvalued, investors turned their attention this week to how companies' businesses are performing. Investors have lowered their expectations for earnings following severe cold in much of the country this winter. That harsh weather weighed on everything from auto and home sales to hiring.

Investors are now eager to hear what CEOs have to say about business prospects going ahead.

Thursday's trading reflected buying and selling on earnings news, rather than a broader market theme taking hold, Mangus said.

"Going into this quarter, expectations are low, so if you disappoint on low expectations you're likely to be penalized," he said. "However, they also present the opportunity for some significant beats because the estimates are that low."

Among companies whose earnings pleasantly surprised investors was General Electric, which described the economic situation as "positive" and said its industrial division was doing well. Another positive signal came from PepsiCo, which reported a higher profit after slashing costs and selling more snacks.

GE gained 44 cents, or 1.7 percent, to close at $26.56, while PepsiCo added 78 cents, or about 1 percent, to finish at $85.55.

IBM, meanwhile, struggled with a decline in its hardware business in the latest quarter. Its stock slid $6.39, or 3.3 percent, to $190.01.

UnitedHealth Group said its income slid 8 percent in the first quarter as fees and funding cuts from the health care overhaul dented its performance. UnitedHealth fell $2.41, or 3.1 percent, to $75.78.

Despite the big-name decliners, the latest wave of quarterly results has been mostly positive, said John Fox, director of research at Fenimore Asset Management.

"The overall read across five or 10 or 15 earnings reports is positive," Fox said, noting that many companies have reaffirmed their earnings forecasts for the year. "The fundamental underpinnings are good, and I'm not hearing anything from management that changes that."

Investors will study more company earnings over the next couple of weeks as they try to determine whether the effects of the severe winter are easing.

Homebuilders, automakers and consumer discretionary companies should provide a better read on whether consumer demand has rebounded from the deep chill.

"The companies that would be most impacted by that have yet to report," Mangus said.

0635


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	40.71	points or ▲	0.25%	on	Monday, 21 April 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,449.25	▲	40.71	▲	0.25%		
	Nasdaq____	4,121.55	▲	26.03	▲	0.64%		
	S&P_500___	1,871.89	▲	7.04	▲	0.38%		
	30_Yr_Bond____	3.53	▲	0.01	▲	0.23%		

NYSE Volume	 2,616,088,750 	 	 	 	 	  		 
Nasdaq Volume	 1,510,769,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,625.25	▲	41.08	▲	0.62% HOLIDAY APRIL 21		
	DAX_____	9,409.71	▲	91.89	▲	0.99% HOLIDAY APRIL 21		
	CAC_40__	4,431.81	▲	26.15	▲	0.59% HOLIDAY APRIL 21		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,444.80	▲	32.20	▲	0.59% HOLIDAY APRIL 21		
	Shanghai_Comp	2,065.83	▼	-31.92	▼	-1.52%		
	Taiwan_Weight	8,951.19	▼	-15.47	▼	-0.17%		
	Nikkei_225___	14,512.38	▼	-3.89	▼	-0.03%		
	Hang_Seng.__	22,760.24	▲	64.23	▲	0.28% HOLIDAY APRIL 21		
	Strait_Times.__	3,255.83	▲	2.63	▲	0.08% HOLIDAY APRIL 21		
	NZX_50_Index_	5,103.35	▲	12.80	▲	0.25% HOLIDAY APRIL 21		

Stocks log longest winning streak in six months

Stocks log longest winning streak in six months at the start of big week for company earnings
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The stock market logged its longest winning streak in six months Monday as another big week for company earnings began.

Halliburton, an oil and gas drilling company, rose after reporting a first-quarter profit on rising revenue in the Middle East and Asia. Toymaker Hasbro gained after saying it returned to profitability in its first quarter. A strong earnings report from Netflix pushed the company's stock higher in after-hours trading.

Close to a third of the companies in the Standard & Poor's 500 index are scheduled to report first-quarter earnings this week, giving investors a better picture about the outlook for demand after the economy's winter slump. Stocks logged their best weekly gain since July last week as companies started reporting their earnings.

"I like what I see in the market," said Karyn Cavanaugh, a senior market strategist with ING U.S. Investment Management. "It's all going to be about earnings, because earnings are the driver of the market in the long run."

The S&P 500 index rose 7.04 points, or 0.4 percent, to 1,871.89. The index has risen five straight days, its longest streak of gains since October.

The Dow Jones industrial average climbed 40.71 points, or 0.3 percent, to 16,449.25. The Nasdaq composite gained 26.03 points, or 0.6 percent, to 4,121.55.

Halliburton rose $2.02, or 3 percent, to $62.92 after the company turned a profit in the first quarter following a loss in the same period a year ago. Last year the company set aside money for litigation over the 2010 Gulf of Mexico oil spill. Hasbro rose $1.05, or 1.9 percent, to $55.66 after its earnings came in higher than investors were expecting, driven by sales of girls' toys such as My Little Pony and Nerf Rebelle.

Stocks also got a lift from an encouraging economic report.

An index designed to predict future economic growth rose in March for the third month in a row, an encouraging sign after harsh winter weather slowed down the U.S. economy. The Conference Board said Monday that its index of leading indicators increased 0.8 percent in March after a 0.5 percent rise in February and a modest 0.2 percent gain in January.

"The data are suggesting that we will gain economic momentum," said Quincy Krosby, a market strategist at Prudential Financial. "There is a sense, more and more, that the economy won't run into another soft patch this year."

Reports of a potential merger also boosted the market.

Newmont Mining jumped $1.42, or 6 percent, to $24.95 following reports that the mining company was considering a merger with Barrick Gold. The two companies are seeking to cut costs after a slump in metals prices.

Allergan, which makes the anti-wrinkle treatment Botox, surged in after-hours trading on news that the activist investor William Ackman was teaming up with Valeant Pharmaceuticals to buy the company. Allergan's stock jumped $28, or 20 percent, to $170.

This week though, investors' focus will largely be on corporate earnings.

McDonald's, Delta Air Lines and Apple are among the 159 companies in the S&P 500 that are scheduled to report earnings this week. Together, the companies represent about a third of the value of the index.

After an unusually harsh winter, Wall Street's expectations for earnings are relatively low. So far, most companies are exceeding them.

S&P 500 companies are forecast to report an overall 1.1 percent decline in earnings for the period, according to data from S&P Capital IQ. If that forecast holds, it would mark the first decline in corporate earnings since the third quarter of 2009, when earnings fell 1.7 percent. About two-thirds of the companies that have reported earnings so far have exceeded analysts' expectations.

Stocks have stabilized over the last week after a volatile start to the month, when a sell-off in high-flying technology and biotechnology stocks pushed the overall market lower. The S&P 500 climbed 2.7 percent last week, recovering its loss from a week earlier.

Bond prices were little changed. The yield on the 10-year Treasury note edged down to 2.71 percent from 2.72 percent.

Among other stocks making big moves:

”” Athenahealth, a provider of online health-record services, slumped $9.99, or 7 percent, to $135.59 after the company reported earnings that fell short of analysts' estimates.

”” Netflix rose $20.10, or 6 percent, to $368.30 in after-hours trading after the online video streaming company said its first-quarter earnings soared as another season of the popular political drama "House of Cards" helped attract an additional 2.25 million subscribers.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	65.12	points or ▲	0.40%	on	Tuesday, 22 April 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,514.37	▲	65.12	▲	0.40%		
	Nasdaq____	4,161.46	▲	39.91	▲	0.97%		
	S&P_500___	1,879.55	▲	7.66	▲	0.41%		
	30_Yr_Bond____	3.50	▼	-0.02	▼	-0.62%		

NYSE Volume	 3,193,497,500 	 	 	 	 	  		 
Nasdaq Volume	 1,825,039,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,681.76	▲	56.51	▲	0.85%		
	DAX_____	9,600.09	▲	190.38	▲	2.02%		
	CAC_40__	4,484.21	▲	52.40	▲	1.18%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,467.10	▲	22.30	▲	0.41%		
	Shanghai_Comp	2,072.83	▲	7.00	▲	0.34%		
	Taiwan_Weight	8,974.71	▲	23.52	▲	0.26%		
	Nikkei_225___	14,388.77	▼	-123.61	▼	-0.85%		
	Hang_Seng.__	22,730.68	▼	-29.56	▼	-0.13%		
	Strait_Times.__	3,277.53	▲	21.70	▲	0.67%		
	NZX_50_Index_	5,104.94	▲	1.59	▲	0.03%		

http://finance.yahoo.com/news/earnings-corporate-deals-lift-us-172930946.html

*Earnings and corporate deals lift US stocks

Stock market pushed higher by corporate deal news and solid earnings; Allergan, Netflix jump*
Associated Press
By Steve Rothwell, AP Markets Writer 

NEW YORK (AP) -- Corporate deals and some solid earnings reports propelled the stock market to its sixth straight gain Tuesday.

Allergan surged after Valeant Pharmaceuticals said it had teamed up with activist investor Bill Ackman to make a bid for the Botox maker. Netflix and Harley-Davidson rose sharply after reporting earnings that beat analyst's expectations.

Stocks are rebounding from a slump earlier this month when investors dumped high-flying biotechnology and Internet stocks. The gains over the past week have been driven by a combination of better economic news and respectable, if not spectacular, earnings reports.

"We were definitely oversold, there's no question about that," said Phil Orlando, chief equity strategist at Federated Investors. "Earnings, by and large, haven't been worse than we thought and the economic news has actually been a little better."

The Standard & Poor's 500 index rose 7.66 points, or 0.4 percent, to 1,879.55. The six consecutive gains in the index marks the longest winning streak since September.

The Dow Jones industrial average climbed 65.12 points, or 0.4 percent, to 16,514.37. The Nasdaq composite gained 39.91 points, or 1 percent, to 4,161.46.

Allergan rose the most in the S&P 500, climbing $21.65, or 15.2 percent, to $163.65. Health care stocks rose 1.04 percent, the biggest gain of the 10 sectors that make up the S&P 500 index.

There was also deal news in the health care industry from Europe. Swiss pharmaceutical maker Novartis AG unveiled a series of multibillion-dollar deals with Britain's GlaxoSmithKline PLC and the U.S.'s Eli Lilly & Co.

The announcements helped drive some speculative buying.

"Whenever there are mergers, people start looking for other potential merger candidates," said John Carey, a portfolio manager at Pioneer Investments. "So it usually drives some other stocks up."

Overall, first-quarter earnings at S&P 500 companies are expected to fall 0.8 percent in the first quarter compared with the same period a year earlier, and growth of almost 8 percent in the fourth quarter, according to S&P Capital IQ data.

While that would be the first decline in earnings since the third quarter of 2009, analysts had been expecting worse. So far, about 65 percent of companies that have reported their earnings have exceeded analysts' forecasts.

"It is a familiar dance," said Federated's Orlando. "Managements have gotten very adept at doing this: lowering the bar and essentially engineering a modest positive surprise."

The consumer discretionary sector had the second-biggest gain Tuesday after some good earnings reports.

Harley-Davidson jumped $4.33, or 6.4 percent, to $71.87 after reporting that its first-quarter earnings rose nearly 19 percent. Motorcycle sales grew 5.8 percent worldwide and efficiency efforts took hold.

Netflix climbed $24.41, or 7 percent, to $372.90 after the online video streaming service said late Monday that its first-quarter earnings soared. Another season of the popular political drama "House of Cards" helped attract an additional 2.25 million subscribers.

Investors even found something to like in a weak report on home sales.

Sales of existing U.S. homes slipped in March to their lowest level since July 2012 as rising prices and a tight supply of available homes discouraged many would-be buyers. The National Association of Realtors says sales edged down 0.2 percent to a seasonally adjusted annual rate of 4.59 million.

While it was the seventh drop in the past eight months, the decline was less than economists had forecast.

In government bond trading, prices were little changed. The yield on the 10-year Treasury note was unchanged at 2.72 percent from late Monday.

Among other stocks making big moves:

”” Facebook rose $1.79, or 2.9 percent, to $63.03. Analysts at Credit Suisse raised their target price for the stock because they believe that the social media company will be able to boost its revenue with new services.

”” Pentair slumped $5.53, or 6.9 percent, to $74.95 after the flow-control company posted an unexpected decline in revenue. Pentair's revenue fell 3 percent and revenue at its largest division, valves and controls, dropped 9 percent compared to last year. Pentair said weaker sales to the energy industry were the main reason for that decline.

”” Omnicom fell $1.62, or 2.3 percent, to $69.87 after the advertising company's CEO said that the timing of a proposed $35 billion merger with France's Publicis Groupe SA remains unclear nine months after the deal was announced.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-12.72	points or ▼	-0.08%	on	Wednesday, 23 April 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,501.65	▼	-12.72	▼	-0.08%		
	Nasdaq____	4,126.97	▼	-34.49	▼	-0.83%		
	S&P_500___	1,875.39	▼	-4.16	▼	-0.22%		
	30_Yr_Bond____	3.47	▼	-0.03	▼	-0.97%		

NYSE Volume	 3,064,543,000 	 	 	 	 	  		 
Nasdaq Volume	 1,744,017,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,674.74	▼	-7.02	▼	-0.11%		
	DAX_____	9,544.19	▼	-55.90	▼	-0.58%		
	CAC_40__	4,451.08	▼	-33.13	▼	-0.74%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,502.20	▲	35.10	▲	0.64%		
	Shanghai_Comp	2,067.38	▼	-5.45	▼	-0.26%		
	Taiwan_Weight	8,956.92	▼	-17.79	▼	-0.20%		
	Nikkei_225___	14,546.27	▲	157.50	▲	1.09%		
	Hang_Seng.__	22,509.64	▼	-221.04	▼	-0.97%		
	Strait_Times.__	3,258.01	▼	-19.52	▼	-0.60%		
	NZX_50_Index_	5,142.92	▲	37.98	▲	0.74%		

http://finance.yahoo.com/news/us-stocks-edge-lower-six-162143274.html

*US stocks edge lower after a six-day rise

Stocks fall slightly after a six-day rise; Intuitive Surgical, other biotechnology stocks fall*
Associated Press
By Ken Sweet, AP Markets Writer

NEW YORK (AP) -- Stocks edged mostly lower Wednesday, breaking a six-day winning streak, as investors were disappointed by the latest round of earnings from U.S. companies.

A surprise drop in new home sales also weighed on the broader market.

The Standard & Poor's 500 index lost 4.16 points, or 0.2 percent, to 1,875.39. The Dow Jones industrial average lost 12.72 points, or 0.1 percent, to 16,501.65 and the Nasdaq composite fell 34.49 points, or 0.8 percent, to 4,126.97.

Since hitting a two-month low on April 11, the index had increased 3.5 percent through Tuesday. It is not unusual for the stock market to pause after such a rally.

"The market, even with those six days of gains, is still struggling to choose a direction," said Joseph Tanious, a global market strategist with J.P. Morgan Funds.

High-flying biotechnology and Internet stocks were among the hardest hit.

Surgical robot maker Intuitive Surgical fell the most in the S&P 500, plunging $48.40, or 12 percent, to $373.93. The company reported a 77 percent drop in first-quarter earnings and sold half has many robots as it did in the same period a year earlier. The company warned two weeks ago that earnings would come in far below expectations, causing its stock to fall sharply from a recent high of $540.63 reached April 3.

Amgen fell 5 percent after it also reported a steep drop in quarterly earnings, missing analysts' expectations.

One bright spot in biotechnology was Gilead Sciences. The drugmaker rose $1, or 1.4 percent, to $73.86 after the company reported a surge in first-quarter earnings. Gilead's drug Sovaldi, a new treatment for Hepatitis C, had $2.3 billion in sales in the first quarter alone, which beat the record for any drug in its first whole year on the market. While Sovaldi has a 90 percent success rate in curing Hepatitis C, the drug has a price of $1,000 per pill, or around $84,000 for a typical course of treatment.

AT&T, despite posting quarterly results that beat analysts' expectations, wasn't able to impress investors this quarter. The Dow member's shares fell $1.37, or 4 percent, to $34.92. The company reported earnings of 71 cents a share, one cent ahead of analysts' expectations, and quarterly sales of $32.48 billion, which also beat expectations.

Other telecom stocks also fell. Verizon fell 49 cents, or 1 percent, to $47.43 while T-Mobile US lost $1.28, or 3.8 percent, to $29.81.

Airline stocks were among the biggest advancers. Delta Air Lines rose $2.14, or 6 percent, to $37.09. Delta's first-quarter earnings climbed after the company filled more seats on planes and paid less for fuel. Delta was the biggest gainer in the S&P 500.

Plane maker Boeing rose $3.08, or 2.4 percent, to $130.63. Its quarterly earnings beat expectations as its commercial jet production increased.

U.S. company earnings have been generally coming in better than what investors had expected. But expectations are low this quarter, investors said, because the harsh winter earlier this year slowed business activity across the country. Earnings in the S&P 500 are expected to be down 1.5 percent from a year ago, according to FactSet.

"When you set the bar so low, U.S. companies are able to walk right over them," Tanious said.

In other company news:

”” Apple jumped $43.91, or 8 percent, to $568.43 in after-hours trading. The technology giant reported a profit of $10.2 billion, or $11.62 a share, beating analysts' forecast of a profit of $10.19 a share. The company also announced it would increase its share buyback program from $60 billion to $90 billion, raised its quarterly dividend to $3.29 a share, and also announced a seven-for-one stock split.

”” Facebook reported a profit of 34 cents a share, well ahead of the 24 cents per share analysts had expected. Facebook shares rose $1.74, or 3 percent, to $63.10 in aftermarket trading.

”” Netflix sank $19.40, or 5 percent, to $353.50. Time Warner and Amazon.com announced that HBO's award-winning shows such as "The Sopranos" and "Six Feet Under" would be available exclusively for Amazon Prime subscribers, a big loss for Netflix. HBO had been one of the biggest holdouts in bringing its content to streaming video services. Time Warner rose $1.08, or 2 percent, to $66.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	0	points or ▲	0.00%	on	Thursday, 24 April 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,501.65	▲	0.00	▲	0.00%		
	Nasdaq____	4,148.34	▲	21.37	▲	0.52%		
	S&P_500___	1,878.61	▲	3.22	▲	0.17%		
	30_Yr_Bond____	3.46	▲	0.00	▼	-0.14%		

NYSE Volume	 3,158,577,250 	 	 	 	 	  		 
Nasdaq Volume	 2,105,267,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,703.00	▲	28.26	▲	0.42%		
	DAX_____	9,548.68	▲	4.49	▲	0.05%		
	CAC_40__	4,479.54	▲	28.46	▲	0.64%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,515.50	▲	13.30	▲	0.24%		
	Shanghai_Comp	2,057.03	▼	-10.35	▼	-0.50%		
	Taiwan_Weight	8,945.45	▼	-11.47	▼	-0.13%		
	Nikkei_225___	14,404.99	▼	-141.28	▼	-0.97%		
	Hang_Seng.__	22,562.80	▲	53.16	▲	0.24%		
	Strait_Times.__	3,283.93	▲	25.92	▲	0.80%		
	NZX_50_Index_	5,153.96	▲	11.04	▲	0.21%		

http://finance.yahoo.com/news/stocks-close-mostly-higher-earnings-202810982.html

*Stocks close mostly higher on earnings; Apple up

Stocks mostly higher in choppy trading as companies report better earnings; Apple gains*
Associated Press
By Ken Sweet, AP Markets Writer

NEW YORK (AP) -- The stock market closed mostly higher Thursday, helped by positive earnings out of several large U.S. companies including Apple and construction equipment maker Caterpillar.

The markets gains were modest, however, as investors turned their eyes back to Russia and Ukraine, where geopolitical tensions were heating up once again. Some earnings reports, such as 3M and Facebook, also failed to impress investors.

It was the seventh time in the last eight days that the S&P 500 has closed higher. Despite the recent upward momentum, traders remain nervous.

"Everyone is a little apprehensive as we move higher, waiting for the next shoe to drop that's going to make the market head lower," said Jonathan Corpina, a floor trader at the New York Stock Exchange with Meridian Equity Partners. "The market isn't in a healthy mentality at the moment."

The Standard & Poor's 500 index rose 3.22 points, or 0.2 percent, to 1,878.61 and the Nasdaq composite rose 21.37 points, or 0.5 percent, to 4,148.34.

The Dow Jones industrial average closed at 16,501.65, unchanged on the day. The last time the Dow closed flat was Dec. 24, 2001.

Apple was among the biggest gainers in the S&P 500 and helped push the Nasdaq composite up more than the rest of the broader market.

Apple rose $43.02, or 8 percent, to $567.77 after the California-based company reported a profit of $11.62 a share, beating forecasts. Apple also announced it would increase its share buyback program from $60 billion to $90 billion, raise its quarterly dividend, and split its stock seven-for-one.

Dow member Caterpillar rose $1.90, or 2 percent, to $105.28. The construction equipment manufacturer said its quarterly earnings rose 5 percent from a year ago. Caterpillar also raised is 2014 profit forecast. The company earned an adjusted profit of $1.61 a share, well ahead of the $1.21 per share expected by analysts.

Another Dow member, 3M, wasn't as fortunate in the first quarter as Caterpillar was.

The maker of industrial coatings and Post-it notes fell $1.34, or 1 percent, to $136.65 after the company's results missed analysts' expectations. The Minnesota-based conglomerate earned $1.79 a share, a penny shy of forecasts. Revenue also came in short of expectations.

Despite the mostly positive news from U.S. companies, overseas worries put a damper on the market.

Russian officials said they would hold new military exercises along the Ukrainian border, hours after Ukrainian troops killed at least two pro-Russia insurgents in eastern Ukraine. Russian President Vladimir Putin described the Ukrainian attack as a "punitive operation" and threatened Kiev with unspecified consequences. The Russia-Ukraine conflict has been relatively quiet for the last couple of weeks, so the recent increase in tensions has made some investors nervous.

Tom di Galoma, who runs fixed-income trading for ED&F Man Capital, said the Ukraine-Russia conflict was sending some investors into safer assets, such as U.S. Treasurys and gold.

The yield on 10-year U.S. Treasury note fell 2.68 percent as bond prices rose. Gold rose $6, or 0.5 percent, to $1.290.60 an ounce.

"One day we think there's a resolution, and the next the situation out of Ukraine and Russia turns a little alarming," Corpina said.

Investors were also working through another batch of economic reports. Orders to U.S. factories for long-lasting manufactured goods rose 2.6 percent, adding to the 2.1 percent rise in February. The back-to-back gains followed two big declines in December and January, which had raised concerns about possible weakness in manufacturing, The earlier declines, however, were likely tied to bad winter weather.

On the jobs front, the number of people seeking U.S. unemployment benefits jumped 24,000 to a seasonally adjusted 329,000 last week, though the gain likely reflected temporary layoffs in the week before Easter.

In other company news:

”” Facebook fell 49 cents, or 1 percent, to $60.87, despite reporting profit and sales that handedly beat forecasts. The social media giant earned an adjusted profit of 34 cents a share compared to analysts' estimates of 24 cents a share.

”” Microsoft rose 99 cents, or 2.5 percent, to $40.90 in afterhours trading, after reporting a profit that beat analysts' expectations. The software giant earned 68 cents a share, compared with the 63 cents analysts were looking for.

”” Amazon rose $9.04, or 2.7 percent, to $346.00 in aftermarket hours. The online retail giant posted a profit of 23 cents a share, two cents better than analysts' expectations.

”” Zimmer Holdings soared $10.52, or 12 percent, to $101.97 after announcing it would buy the privately held orthopedic device company Biomet for $13.35 billion in cash and stock. Biomet was taken private in 2007 by a group of private equity companies, and was looking to go public later this year.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-140.19	points or ▼	-0.85%	on	Friday, 25 April 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,361.46	▼	-140.19	▼	-0.85%		
	Nasdaq____	4,075.56	▼	-72.78	▼	-1.75%		
	S&P_500___	1,863.40	▼	-15.21	▼	-0.81%		
	30_Yr_Bond____	3.44	▼	-0.03	▼	-0.72%		

NYSE Volume	 3,213,026,500 	 	 	 	 	  		 
Nasdaq Volume	 2,065,653,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,685.69	▼	-17.31	▼	-0.26%		
	DAX_____	9,401.55	▼	-147.13	▼	-1.54%		
	CAC_40__	4,443.63	▼	-35.91	▼	-0.80%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,515.50	▲	13.30	▲	0.24%	ANZAC holiday	
	Shanghai_Comp	2,036.52	▼	-20.51	▼	-1.00%		
	Taiwan_Weight	8,774.12	▼	-171.33	▼	-1.92%		
	Nikkei_225___	14,429.26	▲	24.27	▲	0.17%		
	Hang_Seng.__	22,223.53	▼	-339.27	▼	-1.50%		
	Strait_Times.__	3,267.57	▼	-16.36	▼	-0.50%		
	NZX_50_Index_	5,153.96	▲	11.04	▲	0.21% ANZAC holiday		

http://finance.yahoo.com/news/stocks-drop-sharply-amazon-tech-204109784.html

*Stocks drop sharply; Amazon, tech shares drop

Stocks sink as Amazon, Ford drag market lower; Escalating tensions in Ukraine worry investors*
Associated Press
By Ken Sweet, AP Markets Writer

NEW YORK (AP) -- The stock market fell sharply Friday, dragged down by disappointing quarterly results from Amazon and Ford. Escalating tensions between the U.S. and Russia over Ukraine also weighed on the market.

Worried investors sold their risky assets and moved into the traditional havens: bonds, gold and stocks that pay high dividends like utilities.

The Standard & Poor's 500 fell 15.21 points, or 0.8 percent, to 1,863.40. The Dow Jones industrial average lost 140.19 points, or 0.9 percent, to 16,361.46 and the Nasdaq composite lost 72.78 points, or 1.8 percent, to 4,075.56.

Friday's sell-off was enough to push the Dow, S&P 500 and Nasdaq into the red for the week.

Technology stocks, which have been volatile for the last two months, were once again a hotbed of selling.

Amazon, the world's largest online store, sank $33.32, or 10 percent, to $303.83. Amazon reported late Thursday an increase in first-quarter profit, but the company also said that spending on investments will likely lead to an operating loss in the second quarter.

The retail giant dragged the rest of the technology sector lower, making it one of the worst performing sectors in the S&P 500. Netflix fell more than 6 percent, Priceline lost 5 percent, Facebook fell 5 percent and Twitter lost more than 7 percent.

Investors have had little patience for companies missing their forecasts this quarter, said Scott Clemons, chief investment strategist at Brown Brothers Harriman.

"The market is in a precarious position at the moment, and overreacts to bad news far more than it did last year," he said, noting as an example the 10 percent drop in Amazon's stock price, even though the company meet analysts' forecasts for the most recent quarter.

For a second day, the escalating tensions between Russia and Ukraine weighed on U.S. investor sentiment.

Secretary of State John Kerry on Thursday accused Russia of failing to live up to its commitments to ease the crisis in Ukraine. Kerry said bluntly that unless Moscow takes immediate steps to de-escalate the situation, Washington will have no choice but to impose additional sanctions. In a separate event, Ukraine's deputy foreign minister said he feared a Russian invasion was imminent.

Investments thought to be less risky were among the few assets to rise Friday. Bond prices rose, pushing the yield on the 10-year Treasury note down to 2.66 percent from 2.68 percent Thursday. Gold rose $10.20, or 0.8 percent, to $1,300.80 an ounce.

"Cash on the sidelines is looking for safety over anything else right now," said Mike Serio, a regional chief investment officer with Wells Fargo Private Bank.

Dividend-rich utility stocks also rose. The Dow Jones utility index, a basket of 15 utility stocks, rose 1 percent to 551.66, its highest level since December 2007.

The U.S. might have put in place the sanctions against Russia and its officials to punish that country, but the measures are starting to have an impact the profits of some U.S. companies as well.

Visa fell $10.47, or 5 percent, to $198.93 after it warned that the U.S. sanctions were causing Russian banks to use other companies to process payments. Russian President Vladimir Putin said the country will create its own payment processing system. MasterCard was also hurt by the news. Its stock fell $3.69, or 5 percent, to $70.66.

Visa's decline accounted for roughly half the fall in the Dow on Friday.

In other company news:

— Ford fell 54 cents, or 3.3 percent, to $15.78 after the company reported earnings that fell short of Wall Street's expectations. Worldwide sales rose 6 percent in the first quarter, but the company reported a sales drop in North America that cut into the company's profit. General Motors fell 45 cents, or 1.3 percent, to $33.72.

1778


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	87.28	points or ▲	0.53%	on	Monday, 28 April 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,448.74	▲	87.28	▲	0.53%		
	Nasdaq____	4,074.40	▼	-1.16	▼	-0.03%		
	S&P_500___	1,869.43	▲	6.03	▲	0.32%		
	30_Yr_Bond____	3.46	▲	0.02	▲	0.58%		

NYSE Volume	 4,014,763,000 	 	 	 	 	  		 
Nasdaq Volume	 2,322,862,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,700.16	▲	14.47	▲	0.22%		
	DAX_____	9,446.36	▲	44.81	▲	0.48%		
	CAC_40__	4,460.53	▲	16.90	▲	0.38%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,516.10	▲	0.60	▲	0.01%		
	Shanghai_Comp	2,003.49	▼	-33.03	▼	-1.62%		
	Taiwan_Weight	8,809.71	▲	35.59	▲	0.41%		
	Nikkei_225___	14,288.23	▼	-141.03	▼	-0.98%		
	Hang_Seng.__	22,132.53	▼	-91.00	▼	-0.41%		
	Strait_Times.__	3,242.71	▼	-24.86	▼	-0.76%		
	NZX_50_Index_	5,115.80	▼	-38.16	▼	-0.74%		

http://finance.yahoo.com/news/stocks-higher-deal-hopes-bofa-141132820.html

*Stocks higher on deal hopes; BofA sinks

Stocks rise as investors react to potential big pharmaceutical deal; BofA drags banks lower*

Associated Press
By Ken Sweet, AP Markets Writer

NEW YORK (AP) -- It was a choppy ride for the stock market on Monday that ended with major U.S. indexes closing mostly higher.

Traders were pulled in multiple directions. Stocks opened higher, fell in the afternoon, and then rose again in the last hour of trading.

Bank stocks fell after Bank of America said a financial error would force it to cancel its stock buyback plan and dividend increase, while health-care stocks rose after U.S. drug giant Pfizer renewed its pursuit of a merger with British rival AstraZeneca. Formerly highflying technology stocks fell again, dragging the Nasdaq composite index into the red.

The Standard & Poor's 500 index rose 6.03 points, or 0.3 percent, to close at 1,869.43. The Dow Jones industrial average rose 87.28 points, or 0.5 percent, to 16,448.74 and the Nasdaq edged down 1.16 points, or 0.03 percent, to 4,074.40. The Nasdaq erased most of a 61-point loss.

Bank of America sank $1.00, or 6.3 percent, to $14.95 after it unexpectedly announced it would suspend its stock buyback program and dividend increase. The bank discovered an error in how it calculates its capital ratio, a crucial measure of a bank's financial strength. The Federal Reserve asked the bank to put its buyback and dividend increase on hold until the error was fixed.

Goldman Sachs and Citigroup each 1 percent following BofA's announcement. JPMorgan Chase edged down 0.4 percent.

High-risk technology stocks were another area of weakness Monday as investors continue to cut their exposure to high-growth names and turn their focus to larger dividend-paying companies. Amazon fell $7.25, or 2.5 percent, to $296.58 after falling 10 percent on Friday. Netflix lost $7.87, or 2.4 percent, to $314.21 and Facebook fell $1.57, or 2.7 percent, to $56.14.

In contrast, "old" technology companies such as Microsoft, Apple and IBM, which have more mature businesses and pay quarterly dividends, rose 2 percent or more Monday.

High-growth technology and biotechnology stocks have been falling for several weeks now. The Nasdaq is down 3 percent in April, while the S&P 500 and Dow are roughly flat.

Traders say the selling has been coming from large investors, who have been moving out of high-growth stocks and into safer investments. The Russell 2000, an index made up mostly of smaller companies, is down nearly 5 percent this month.

"When you have so many investors doing the same thing at the same time, you get these exaggerated moves in some of these stocks," said Ian Winer, director of equity trading at Wedbush Securities.

Health-care stocks did well after drug giant Pfizer renewed its push to buy British drug company AstraZeneca for $100 billion. The deal would be the latest big merger in the drug industry in recent weeks, if it happens. AstraZeneca jumped $8.35, or 12 percent, to $77.01. Pfizer rose $1.29, or 4.2 percent, to $32.04.

The health-care industry has seen several big deals this year. Just in the last two weeks, Zimmer Holdings announced it would buy medical device maker Biomet for $13.4 billion, Valeant Pharmaceuticals said it would bid for Botox maker Allergan for $50 billion and Novartis agreed to buy GlaxoSmithKline's cancer drug business for $16 billion.

"These deals have a halo effect on the rest of the market, particularly in the industry where it happens, because investors expect it means more deals are on their way," said Quincy Krosby, market strategist with Prudential Financial.

Investors now turn their focus to the Federal Reserve, which starts a two-day policy meeting on Tuesday. The central bank is expected to further dial back its economic stimulus by reducing its monthly bond purchases to $45 billion. Those monthly purchases, which totaled $85 billion in December, have helped hold down long-term interest rates for consumers and businesses.

In other markets, bond prices fell, pushing the yield of the 10-year U.S. Treasury note up to 2.70 percent from 2.66 percent Friday. Gold was little changed at $1,299 an ounce.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	86.63	points or ▲	0.53%	on	Tuesday, 29 April 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,535.37	▲	86.63	▲	0.53%		
	Nasdaq____	4,103.54	▲	29.14	▲	0.72%		
	S&P_500___	1,878.33	▲	8.90	▲	0.48%		
	30_Yr_Bond____	3.49	▲	0.03	▲	0.93%		

NYSE Volume	 3,626,490,250 	 	 	 	 	  		 
Nasdaq Volume	 1,894,435,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,769.91	▲	69.75	▲	1.04%		
	DAX_____	9,584.12	▲	137.76	▲	1.46%		
	CAC_40__	4,497.68	▲	37.15	▲	0.83%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,466.90	▼	-49.20	▼	-0.89%		
	Shanghai_Comp	2,020.34	▲	16.85	▲	0.84%		
	Taiwan_Weight	8,872.11	▲	62.40	▲	0.71%		
	Nikkei_225___	14,288.23	▼	-141.03	▼	-0.98%		
	Hang_Seng.__	22,453.89	▲	321.36	▲	1.45%		
	Strait_Times.__	3,237.74	▼	-4.97	▼	-0.15%		
	NZX_50_Index_	5,148.29	▲	32.49	▲	0.64%		

http://finance.yahoo.com/news/stocks-gain-earnings-cummins-ameriprise-153412084.html

*Stocks gain on earnings; Cummins, Ameriprise rise

Stocks move higher on solid earnings reports; Ameriprise, and Consol Energy gain, Coach slumps*

Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- Solid earnings from a broad swath of U.S. companies pushed the stock market higher on Tuesday.

Ameriprise Financial, a wealth management company, surged after posting earnings that exceeded Wall Street's expectations. The company also said it would buy back an additional $2.5 billion of its own stock and raise its dividend. Cummins, a maker of large diesel engines, jumped after the company said a surge in North American sales sent its earnings higher.

Just over half the companies in the Standard & Poor's 500 index have now released their earnings for the first quarter and, with the occasional exception, the reports have contained enough good news to drive stock prices higher. The S&P 500 has gained 2.1 percent since April 14, and the index is approaching its all-time high following a pullback at the start of the month prompted by a sell-off in formerly highflying Internet and biotechnology stocks.

"Corporate earnings are pretty good," said Randy Frederick, Managing Director of Trading and Derivatives at the Schwab Center for Financial Research. "Once the market got back on its feet after that dip that we had, it seems to be poised to hit a new record high very soon."

The Standard & Poor's 500 index rose 8.90 points, or 0.5 percent, to 1,878.33. The index is 12 points below its record high of 1,890.89 set April 2.

The Dow Jones industrial average climbed 86.63 points, or 0.5 percent, to 16,535.37. The Nasdaq composite gained 29.14 points, or 0.7 percent, to 4,103.54.

Analysts currently expect earnings for S&P 500 companies to grow by 1.4 percent in the first quarter, according to data from S&P Capital IQ. Although that is lower than the 5.2 percent earnings growth recorded in the same period a year ago, expectations for the period were low after an unusually harsh winter.

Two weeks ago, analysts were expecting an overall decline in earnings, but those expectations have risen as more companies have reported earnings.

"Companies have learned a new religion," said Chris Bertelsen, chief investment officer at Global Financial Private Capital, a wealth management company. "That is, underpromise and overdeliver."

Ameriprise rose $6.04, or 5.8 percent, to $109.55. Financial stocks rose almost 1 percent, the biggest gain of the 10 industry groups that make up the S&P 500.

Cummins rose $5.61, or 3.9 percent, to $150.81 after the company posted its results and raised its sales outlook due to improving demand in North America.

Coach, a maker of handbags and other luxury goods, was among the day's losers. The company's stock fell $4.71, or 9.3 percent, to $45.71 after Coach said its earnings declined in the first three months of the year. Sales in North America came under pressure from competitors like Michael Kors.

Investors get more information on the U.S. economy and the Federal Reserve's thinking on Wednesday.

The Commerce Department will issue the first of three estimates of how fast the U.S. economy grew in the January-March quarter. Economists say a slowdown last quarter, caused mainly by a severe winter, is likely giving way to stronger growth that should endure through the rest of the year.

The Fed will release a statement after the conclusion of their its two-day meeting. Most economists expect that the Fed will reduce its monthly bond purchases by another $10 billion, to $45 billion a month. The Fed's stimulus has helped underpin a five-year rally in stocks.

The yield on the 10-year Treasury note was unchanged from Monday at 2.70 percent. The price of oil rose 44 cents, or 0.4 percent, to $101.28 a barrel.

Among other stocks making big moves:

”” MGM Resorts International rose $1.96, or 8.5 percent, to $24.98 after the company said its first-quarter earnings soared, bolstered by continued strength in Macau and improved room bookings on the Las Vegas Strip.

”” Sprint, the third-largest U.S. wireless carrier, gained 84 cents, or 11.3 percent, to $8.27 after the company posted a loss that was smaller than Wall Street analysts' had expected.

”” Consol Energy rose $1.98, or 4.7 percent, to $43.93 after it announced earnings of $116 million in the first quarter. The company's profit was helped by growth in its oil and gas business.

”” Twitter fell $4.16, or 10 percent, to $38.46 in after-hours trading after the company booked a net loss in the first quarter.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	45.47	points or ▲	0.27%	on	Wednesday, 30 April 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,580.84	▲	45.47	▲	0.27%		
	Nasdaq____	4,114.56	▲	11.01	▲	0.27%		
	S&P_500___	1,883.95	▲	5.62	▲	0.30%		
	30_Yr_Bond____	3.46	▼	-0.03	▼	-0.95%		

NYSE Volume	 3,745,671,000 	 	 	 	 	  		 
Nasdaq Volume	 2,135,288,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,780.03	▲	10.12	▲	0.15%		
	DAX_____	9,603.23	▲	19.11	▲	0.20%		
	CAC_40__	4,487.39	▼	-10.29	▼	-0.23%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,470.80	▲	3.90	▲	0.07%		
	Shanghai_Comp	2,026.36	▲	6.02	▲	0.30%		
	Taiwan_Weight	8,791.44	▼	-80.67	▼	-0.91%		
	Nikkei_225___	14,304.11	▲	15.88	▲	0.11%		
	Hang_Seng.__	22,133.97	▼	-319.92	▼	-1.42%		
	Strait_Times.__	3,264.71	▲	26.97	▲	0.83%		
	NZX_50_Index_	5,232.68	▲	84.38	▲	1.64%		

http://finance.yahoo.com/news/dow-closes-record-fed-keeps-211940838.html

*Dow closes at record as Fed keeps cutting stimulus

Stocks rise as investors weigh company earnings, economy and Fed; Dow closes at record high
*

Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The Dow Jones industrial average closed at an all-time high Wednesday as the good narrowly outweighed the bad for the stock market.

After investors took in some solid U.S. company earnings, the latest move from the Federal Reserve and a report of unexpectedly weak economic growth in the first quarter, the stock market managed its third straight day of gains.

The Dow Jones industrial average rose 45.47 points, or 0.3 percent, to 16,580.84, four points above its previous record set on Dec. 31. It was the first day the index closed in positive territory for the year.

The Standard & Poor's 500 index rose 5.62 points, or 0.3 percent, to 1,883.95. The Nasdaq composite rose 11.01 points, or 0.3 percent, to 4,114.56.

Stocks started the day lower after the Commerce Department said U.S. growth slowed to a barely discernible 0.1 percent annual rate in the January-March quarter, less than 1.1 percent forecast by economists, according to FactSet. Winter storms chilled activity.

The market's reaction was muted because most investors expect the slowdown to be temporary and growth to rebound with warmer temperatures.

"Most people, including us, expected March to have been the strongest month of the first quarter" and that growth will continue to pick up, said Sean Lynch, global investment strategist for Wells Fargo Private Bank. "That's an OK environment for the market."

Some solid earnings reports and corporate deal news helped offset the weak economic report, and by midday stocks had eked out small gains.

Pepco Holdings surged $3.97, or 17.4 percent, to $26.76 after it agreed to be acquired by nuclear power company Exelon for $6.83 billion, creating a large electric and gas utility in the mid-Atlantic region. Exelon will pay an 18 percent premium to the company's $23.10 closing price on Tuesday.

Sealed Air rose $1.72, or 5.3 percent, to $34.31 after the food packaging company's earnings easily beat Wall Street's expectations. The company also said it was on track to post full-year earnings at the upper end of the range of its forecast.

More than 60 percent of S&P 500 companies have reported first-quarter earnings. Analysts currently expect earnings to grow by 1.7 percent in the period, according to S&P Capital IQ data. That compares with growth of almost 8 percent in the fourth quarter and 5.2 percent in the same period a year ago.

Stocks climbed higher in afternoon trading after the Federal Reserve's statement following its April policy meeting was in line with investor's expectations.

The Fed said it would reduce its monthly bond purchases by another $10 billion to $45 billion. The stimulus is intended to hold down long-term interest rates and support the mortgage market. The Fed also reaffirmed its plan to keep short-term interest rates low to support the economy "for a considerable time" after its bond purchases end, likely late this year.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.65 percent from 2.70 percent on Tuesday. The yield on the note has fallen from 3 percent at the start of the year.

As bond yields remain close to historical lows, stocks will likely remain attractive to investors, said David Kelly, Chief Global Strategist at JPMorgan funds.

"What else are you supposed to do with your money?" Kelly said. "For lack of something better to do with it, money is going to move back into equities."

Among other stocks making big moves:

”” Twitter fell $3.65, or 8.6 percent, to $38.97 after its customer growth disappointed investors when it reported quarterly results late Tuesday. Twitter had 255 million monthly users at the end of March, up 25 percent from a year earlier, but 2 million fewer than industry analysts had expected. Twitter shot higher after its IPO at $26 a share in November, climbing as high as $73.31 in December. The stock has been steadily declining since then.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-21.97	points or ▼	-0.13%	on	Thursday, 1 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,558.87	▼	-21.97	▼	-0.13%		
	Nasdaq____	4,127.45	▲	12.90	▲	0.31%		
	S&P_500___	1,883.68	▼	-0.27	▼	-0.01%		
	30_Yr_Bond____	3.40	▼	-0.05	▼	-1.53%		

NYSE Volume	 3,394,530,500 	 	 	 	 	  		 
Nasdaq Volume	 2,059,527,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,808.87	▲	28.84	▲	0.43%		
	DAX_____	9,603.23	▲	19.11	▲	0.20%		
	CAC_40__	4,487.39	▼	-10.29	▼	-0.23%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,430.40	▼	-40.40	▼	-0.74%		
	Shanghai_Comp	2,026.36	▲	6.02	▲	0.30%		
	Taiwan_Weight	8,791.44	▼	-80.67	▼	-0.91%		
	Nikkei_225___	14,485.13	▲	181.02	▲	1.27%		
	Hang_Seng.__	22,133.97	▼	-319.92	▼	-1.42%		
	Strait_Times.__	3,264.71	▲	26.97	▲	0.83%		
	NZX_50_Index_	5,209.21	▼	-23.47	▼	-0.45%		

http://finance.yahoo.com/news/encouraging-news-economy-fails-lift-205553256.html

*Encouraging news on economy fails to lift stocks
Encouraging news on US economy fails to give stocks a lift; Dish gains on bid report*

Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- Encouraging news on the U.S. economy wasn't enough to give the stock market its fourth straight day of gains.

Manufacturing grew faster in April than in March as exports picked up and factories accelerated hiring. U.S. shoppers ramped up their spending in March at the fastest pace in 4 ½ years and construction spending also ticked higher. The reports, coming a day after the Commerce Department said U.S. growth stalled in the January-March quarter, suggest that the economy is gaining momentum after the unusually harsh winter.

The market remains close to its all-time highs, but for now investors, uncertain about which way the economy is headed, appear reluctant to push stocks higher.

"The data was good, but not robust enough to completely eliminate doubts over whether the first quarter was entirely weather-related," said Anthony Valeri, an investment strategist for LPL Financial.

The Standard & Poor's 500 index fell 0.27 points, or less than 0.1 percent, to 1,883.68. The Dow Jones industrial average fell 21.97 points, or 0.1 percent, to 16,558.87. The Dow closed at an all-time high on Wednesday. The Nasdaq composite rose 12.90 points, or 0.3 percent, to 4,127.45.

Investors' reaction to the economic reports was also likely muted ahead of Friday's April jobs report, Valeri said. Economists are predicting U.S. employers added 210,000 jobs last month and that the unemployment rate dipped to 6.6 percent from 6.7 percent.

On Thursday, stocks moved between small gains and losses for most of the day as investors also assessed the latest round of company earnings and reports of a potential deal.

DirecTV climbed $3.16, or 4.1 percent, to $80.76 after The Wall Street Journal reported that AT&T had approached the satellite TV provider about a possible acquisition. A deal would likely be worth about $40 billion, the Journal reported. The report came after news Wednesday that power company Exelon agreed to buy Pepco Holdings for $6.8 billion.

"That corporate balance sheet, which was very conservative for a while, is starting to unlock," said Jerry Braakman, chief investment officer of First American Trust.

In earnings news, Avon Products slumped $1.56, or 10.2 percent, to $13.72 after the beauty products company said its first-quarter loss widened, stung by volatile currency moves in Venezuela and weak revenue across all regions. Profit and revenue fell short of Wall Street expectations.

MasterCard and Yelp were among the companies that gained after reporting their latest quarterly earnings.

MasterCard rose 67 cents, or 0.9 percent, to $74.22 after the company reported that its net income climbed 14 percent in the first quarter as more spending by cardholders worldwide lifted the company's results.

Yelp rose $5.70, or 9.8 percent, to $64.02 after the company said late Wednesday that its first-quarter loss narrowed as more local businesses signed up for the online review site's services. The results were better than the market expected, and the company raised its revenue guidance for the year.

Overall, the trend in U.S. company earnings has been steady, if not spectacular, improvement.

More than 60 percent of the companies in the S&P 500 have reported earnings for the first quarter. Analysts expect earnings for the period to rise by 1.7 percent, compared with growth of almost 8 percent in the fourth quarter and 5.2 percent in the same period a year ago, according to data from S&P Capital IQ.

"There's a lot of noise around the trend, but the trend is positive ... Earnings are coming in OK, and that makes me happy," said Karyn Cavanaugh, senior market strategist at Voya Investment Management. "Investors need to get into this market."

Treasury prices rose. The yield on the 10-year Treasury note fell to 2.61 percent from 2.65 percent, and is close to its lowest level of the year.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-45.98	points or ▼	-0.28%	on	Friday, 2 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,512.89	▼	-45.98	▼	-0.28%		
	Nasdaq____	4,123.90	▼	-3.55	▼	-0.09%		
	S&P_500___	1,881.14	▼	-2.54	▼	-0.13%		
	30_Yr_Bond____	3.37	▼	-0.04	▼	-1.12%		

NYSE Volume	 3,154,843,500 	 	 	 	 	  		 
Nasdaq Volume	 1,828,098,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,822.42	▲	13.55	▲	0.20%		
	DAX_____	9,556.02	▼	-47.21	▼	-0.49%		
	CAC_40__	4,458.17	▼	-29.22	▼	-0.65%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,438.80	▲	8.40	▲	0.15%		
	Shanghai_Comp	2,026.36	▲	6.02	▲	0.30%		
	Taiwan_Weight	8,867.32	▲	75.88	▲	0.86%		
	Nikkei_225___	14,457.51	▼	-27.62	▼	-0.19%		
	Hang_Seng.__	22,260.67	▲	126.70	▲	0.57%		
	Strait_Times.__	3,252.55	▼	-12.16	▼	-0.37%		
	NZX_50_Index_	5,232.91	▲	23.70	▲	0.46%		

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3
*
Stocks finish lower on mixed earnings, Ukraine

US stocks fall on mixed corporate earnings; Flare-up in Ukraine weighs on market*

Associated Press
By Bernard Condon, AP Business Writer

NEW YORK (AP) -- The stock market ended lower on Friday as a surprisingly strong report on job gains failed to impress investors.

Stocks rose in the early going after the government reported that U.S. employers hired at the fastest pace in two years last month. The Standard and Poor's 500 index briefly rose above its record closing high.

The market started to slump in late morning trading on news of downed helicopters and killed fighters in eastern Ukraine. Early Friday Ukrainian government forces attacked pro-Russian insurgents in the region.

All three major U.S. stock indexes wavered between gains and losses for most of the day.

Among the biggest losers was LinkedIn. The online professional networking service fell 8 percent after reporting its largest quarterly loss since going public. Expedia, the online travel site, fell nearly 4 percent, and Pfizer fell 1.3 percent after the drug company's latest offer to buy AstraZeneca was rejected by its board.

In the jobs report, the government said employers added 288,000 jobs in April, 70,000 more than expected. Hiring was stronger in the prior two months than initially estimated, too. The unemployment rate for April plunged to 6.3 percent, the lowest since September 2008.

A few details of the report were less encouraging. The drop in the unemployment rate likely reflected long-term jobless who had been out of work for six months or more before finally giving up looking for work. People aren't counted as unemployed unless they're looking for a job.

"Long-term unemployment is higher than expected, but overall (the report) is positive," said Brad Sorensen, director of market and sector research at Charles Schwab. He added, "There isn't a ton of enthusiasm in the market."

Among the stocks taking big hits Friday was Madison Square Garden, which fell $3.62, or 6.6 percent, to $51.47. The owner of sports teams and entertainment venues like Radio City Music Hall said its earnings fell by half in its fiscal third quarter, partly due to a management change and a costly delay for a Rockettes production.

Among the gainers was Wynn Resorts, which rose $15.05, or 7 percent, to $221.68 after reporting that its first-quarter net income grew 12 percent. The company cited strong gambling revenues from its growing operations in Macau.

More than halfway through the first-quarter reporting season, earnings for all companies in the S&P 500 are forecast to have grown 1.7 percent, according to S&P Capital IQ, a data provider. That compares with nearly 8 percent last quarter.

"We've got decent earnings growth, but it's not great," said Dan Morris, global investment strategist at TIAA-CREF. "We want the market to always hit new highs, but it has to be driven by earnings growth."

On Friday, the S&P 500 fell 2.54 points, or 0.1 percent, to 1,881.14. The Dow Jones industrial average lost 45.98 points, or 0.3 percent, to 16,512.89. The Nasdaq composite dropped 3.55 points, or 0.1 percent, to 4,123.90.

In Ukraine, the government sent armored vehicles and troops to oust pro-Russian insurgents in the eastern city of Slovyansk. Two Ukrainian helicopters were shot down, and several people were reported dead.

Russia said Ukraine's offensive "destroyed" a two-week-old agreement on defusing the crisis.

Investors sought safety in U.S. Treasurys, pushing bond prices higher. The yield on the 10-year Treasury note fell to 2.59 percent, near its lowest level of the year.

The price of crude oil rose 34 cents to $99.76 per barrel

In other corporate news, Estee Lauder rose $3.43, or nearly 5 percent, to $75.62 after reporting quarterly results that beat analysts' estimates. Earnings at the beauty products company jumped 19 percent, helped by strength in emerging markets.

2222


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	17.66	points or ▲	0.11%	on	Monday, 5 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,530.55	▲	17.66	▲	0.11%		
	Nasdaq____	4,138.06	▲	14.16	▲	0.34%		
	S&P_500___	1,884.66	▲	3.52	▲	0.19%		
	30_Yr_Bond____	3.41	▲	0.04	▲	1.22%		

NYSE Volume	 2,715,491,000 	 	 	 	 	  		 
Nasdaq Volume	 1,546,029,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,822.42	▲	13.55	▲	0.20%		
	DAX_____	9,529.50	▼	-26.52	▼	-0.28%		
	CAC_40__	4,462.69	▲	4.52	▲	0.10%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,443.40	▲	4.60	▲	0.08%		
	Shanghai_Comp	2,027.35	▲	1.00	▲	0.05%		
	Taiwan_Weight	8,870.43	▲	3.11	▲	0.04%		
	Nikkei_225___	14,457.51	▼	-27.62	▼	-0.19%		
	Hang_Seng.__	21,976.33	▼	-284.34	▼	-1.28%		
	Strait_Times.__	3,241.60	▼	-10.95	▼	-0.34%		
	NZX_50_Index_	5,200.25	▼	-32.66	▼	-0.62%		

http://finance.yahoo.com/news/stocks-edge-higher-us-sector-191417782.html

*Stocks edge higher; US service sector improves

Stocks edge higher as investors weigh growth in US services against weak Chinese manufacturing*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- Worries from overseas held back the stock market on Monday.

Stocks started the day lower after a report showed that manufacturing in China, the world's second biggest economy, had contracted for the fourth straight month. News of more fighting between pro-Russian activists and soldiers in Ukraine also made investors cautious.

The negative news was offset by a report that showed U.S. service firms grew more quickly last month as sales and new orders rose. Stocks climbed after the report was released mid-morning and ended the day higher, but the gains were slight. Stocks remain close to all-times highs, and investors still appear unwilling to push the market higher even amid signs that the U.S. economy is strengthening.

"The foreign concerns are dampening what might otherwise have been a better day in the market," said Kate Warne, an investment strategist at Edward Jones, a financial adviser. "It really is quite a mixed picture."

The Standard & Poor's 500 index rose 3.52 points, or 0.2 percent, to 1,884.66. The index is six points below its record close of 1,890 set on April 2. The Dow Jones industrial average rose 17.66 points, or 0.1 percent, to 16,530.55. The Nasdaq composite rose 14.16 points, or 0.3 percent, to 4,138.06.

Utilities stocks rose the most in the S&P 500 index. The utility sector has risen 12.5 percent this year, making it the best performing industry group in the S&P 500. Utilities stocks typically pay big dividends and have been popular with investors as bond yields have fallen this year, said Kristina Hooper, U.S. investment strategist at Allianz Global Investors.

"Investors have been starved, when it comes to traditional sources of income," said Kristina Hooper, U.S. investment strategist at Allianz Global Investors.

Financial stocks were the day's biggest losers. The declines were led by JPMorgan Chase, after the bank said late Friday in a quarterly filing that it expects revenue from its bond and stock market unit to be down about 20 percent in the second quarter in a "continued challenging environment." The bank's first-quarter earnings were crimped by lower revenue at its bond trading business.

JPMorgan slumped $1.36, or 2.4 percent, to $54.22. Other banks with big bond-trading businesses, such as Morgan Stanley, Goldman Sachs and Citigroup also fell.

Investors were also watching earnings.

Tyson Foods slumped $4.21, or 9.9 percent, to $38.44 after the company's outlook for full-year earnings fell short of analysts' expectations.

Pfizer fell 79 cents, or 2.6 percent, to $29.96 after the drug company said Monday that its first-quarter profit dropped 15 percent despite sharp cost-cutting. The earnings decline reflected competition from cheaper generic drugs. Pfizer has been trying since January to get British rival AstraZeneca to discuss its bid to buy the company, but AstraZeneca continues to rebuff Pfizer.

While stocks have been treading water for most of the year, bonds have climbed. That has surprised many analysts who were expecting bonds to fall after the Federal Reserve announced in December that it would start reducing its bond purchases as the economy was strengthening. The bond purchases are intended to boost the economy by keeping long-term interest rates low.

Investors have been buying bonds for a variety of reasons. Inflation has remained as low, even amid signs that that the economy is strengthening. Concerns that the tensions between Russia and Ukraine could escalate further have also boosted demand for risk-free government debt.

"The bond market action has been one of the more surprising elements of the capital markets story this year," said Jim Russell, regional investment director at US Bank. "We do feel that yields will probably drift higher" as the economy continues to improve, Russell said.

The yield on the 10-year Treasury note, which moves in the opposite direction to its price, fell to 2.58 percent in early morning trading, matching its lowest level for the year. By the end of the day it had edged up to 2.61 percent. The yield on the note was close to 3 percent at the start of the year.

Among other stocks making big moves:

”” Walgreen rose 99 cents, or 1.4 percent, to $69.85 after the company reported revenue from established drugstores jumped 7.6 percent last month, topping analysts' expectations. Sales were helped by a later Easter holiday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-129.53	points or ▼	-0.78%	on	Tuesday, 6 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,401.02	▼	-129.53	▼	-0.78%		
	Nasdaq____	4,080.76	▼	-57.30	▼	-1.38%		
	S&P_500___	1,867.72	▼	-16.94	▼	-0.90%		
	30_Yr_Bond____	3.38	▼	-0.03	▼	-0.79%		

NYSE Volume	 3,326,632,750 	 	 	 	 	  		 
Nasdaq Volume	 1,833,217,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,798.56	▼	-23.86	▼	-0.35%		
	DAX_____	9,467.53	▼	-61.97	▼	-0.65%		
	CAC_40__	4,428.07	▼	-34.62	▼	-0.78%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,462.70	▲	19.30	▲	0.35%		
	Shanghai_Comp	2,028.04	▲	0.68	▲	0.03%		
	Taiwan_Weight	8,912.39	▲	41.96	▲	0.47%		
	Nikkei_225___	14,457.51	▼	-27.62	▼	-0.19%		
	Hang_Seng.__	21,976.33	▼	-284.34	▼	-1.28%		
	Strait_Times.__	3,245.56	▲	3.96	▲	0.12%		
	NZX_50_Index_	5,174.90	▼	-25.36	▼	-0.49%		

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Stocks drop on mixed earnings; Twitter plunges

Mixed earnings reports push down US stocks broadly; Internet stocks drop, led by Twitter*
Associated Press
By Bernard Condon, AP Business Writer

NEW YORK (AP) -- U.S. stocks fell broadly on Tuesday as investors found little to cheer in corporate earnings reports. A plunge in Twitter led Internet companies sharply lower.

Twitter dropped 18 percent after company insiders were allowed to sell stock for the first time since the initial public offering last year. Netflix fell 5 percent, Facebook and Amazon, 4 percent each, and Google, 2 percent.

Nine of the ten industry groups in the Standard and Poor's 500 fell, led by a 1.4 percent drop in financial companies after results for insurer American International Group fell short of analysts' expectations. Home builder stocks dropped after more signs of weakness in the housing market.

Jack Ablin, chief investment officer of BMO Private bank, says investors are worried that corporate results over the next few quarters will not justify the surge in prices from the start of 2013.

"We ran ahead of fundamental valuations, based on revenue and earnings," Ablin said. "Either revenue or earnings have to catch up to the market, or prices have to come down."

The S&P 500 dropped 16.94 points, or 0.9 percent, to 1,867.72. The Dow Jones industrial average fell 129.53 points, or 0.8 percent, to 16,401.02. The Nasdaq composite dropped 57.30 points, or 1.4 percent, to 4,080.76.

Even utilities ”” the biggest winners so far this year, up 12 percent ”” did not escape the selling. They slipped 0.5 percent.

The drop in the S&P 500 and the Dow Jones index was the third in four trading days, and comes despite recent upbeat news on the U.S. economy. Payrolls increased by 288,000 last month, the fastest pace since 2012.

Steven Ricchiuto, chief economist of Mizuho Securities, noted that, for all the job gains, wages for U.S. workers have not increased significantly, and that is holding back consumer spending.

"People are getting weary of the 'things-are-getting-better' story," said Steven Ricchiuto, chief economist of Mizuho Securities. "We're hiring more workers, but we're not paying them more."

Companies in the S&P 500 index are expected to have increased earnings by 2.6 percent in the first quarter, according to S&P Capital IQ, a data provider. That is down sharply from the nearly 8 percent jump in the fourth quarter.

U.S. home prices rose at a slightly slower pace in the 12 months that ended in March, according to data provider CoreLogic. It was another sign that weak sales, caused in part by rising mortgage rates, have begun to restrain the housing market's sharp price gains.

Home builder stocks fell broadly. Ryland Group fell $1.08, or nearly 3 percent, to $37.68. D.R. Horton fell 55 cents, or nearly 3 percent, to $22.43.

American International Group fell $2.18, or 4 percent, to $50.54. The company reported revenue that was below what investors expected due to higher catastrophe losses and lower investment income.

Investors were also keeping an eye on the turmoil in Ukraine. In the city of Donetsk, pro-Russia militants armed with automatic rifles and grenade launchers surrounded an Interior Ministry base. And a planned weekend referendum by pro-Russian insurgents for autonomy and independence in parts of eastern Ukraine was denounced as "bogus" by the Obama administration.

U.S. government bond prices rose slightly. The yield on the 10-year Treasury note fell to 2.59 percent from 2.61 percent Monday. The yield has fallen from 3 percent at the start of January.

In other stocks making big moves:

”” Office Depot soared 66 cents, or 16 percent, to $4.83 after reporting adjusted profits for the first quarter that were twice as high as analysts expected. The company also said it would close at least 400 U.S. stores after its merger with OfficeMax resulted in the overlap of retail locations.

”” Discovery Communications fell $3.06, or 4 percent, to $74.71 after reporting a gain in first-quarter revenue that was lower than analysts expected.

”” Merck fell $1.52, or 2.6 percent, to $57.11 after the drug company agreed to sell its non-prescription medicine and consumer-care business to Germany's Bayer for $14.2 billion. Products in that business include Claritin allergy pills, Coppertone sunscreen and Dr. Scholl's footcare products.

”” Whole Foods Market tanked $7.07, or 15 percent, to $40.83 in after-hours trading. Quarterly profit at the upscale grocer fell short of expectations as rivals have sped up their own organic and natural offerings. The company also cut its profit outlook for the rest of the year.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	117.52	points or ▲	0.72%	on	Wednesday, 7 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,518.54	▲	117.52	▲	0.72%		
	Nasdaq____	4,067.67	▼	-13.09	▼	-0.32%		
	S&P_500___	1,878.21	▲	10.49	▲	0.56%		
	30_Yr_Bond____	3.40	▲	0.02	▲	0.65%		

NYSE Volume	 3,607,977,000 	 	 	 	 	  		 
Nasdaq Volume	 2,467,297,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,796.44	▼	-2.12	▼	-0.03%		
	DAX_____	9,521.30	▲	53.77	▲	0.57%		
	CAC_40__	4,446.44	▲	18.37	▲	0.41%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,419.10	▼	-43.60	▼	-0.80%		
	Shanghai_Comp	2,010.08	▼	-17.95	▼	-0.89%		
	Taiwan_Weight	8,893.22	▼	-19.17	▼	-0.22%		
	Nikkei_225___	14,033.45	▼	-424.06	▼	-2.93%		
	Hang_Seng.__	21,746.26	▼	-230.07	▼	-1.05%		
	Strait_Times.__	3,236.43	▼	-9.13	▼	-0.28%		
	NZX_50_Index_	5,189.13	▲	14.23	▲	0.27%		

http://finance.yahoo.com/news/stock-market-climbs-even-internet-202658629.html

*Stock market climbs even as Internet names skid

S&P 500 index and Dow rise while Internet stocks and Whole Foods tug Nasdaq composite lower*
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Soothing words from Federal Reserve Chair Janet Yellen helped pull the stock market out of a morning slump Wednesday. But Internet companies and Whole Foods Market plunged, taking the Nasdaq down.

Traders dropped NetApp, salesforce.com and other tech companies for a second day running, sending their stocks down 2 percent or more. Whole Foods sank 19 percent after cutting its profit forecast.

Yellen told the Joint Economic Committee of Congress that a tough job market and weak inflation meant that the Fed will likely keep borrowing rates low for a "considerable time." As a result, she said, the economy still needed the Fed's help.

Yellen's comments appeared to ease concerns that the Fed was going to remove more support. The stock market had wandered lower in morning trading, then turned from a loss to a gain before the lunch hour.

"I think the market breathed a sigh of relief that she wasn't going to unveil something new," said Jeff Kleintop, chief market strategist at LPL Financial.

The Standard & Poor's 500 index gained 10.49 points, or 0.6 percent, to close at 1,878.21.

The Dow Jones industrial average climbed 117.52 points, or 0.7 percent, to 16,518.54.

The Nasdaq was the only major index to fall. It gave up 13.09 points, or 0.3 percent, to 4,067.67.

The S&P 500 index is within striking distance of its all-time closing high of 1,890 reached on April 2.

"Whenever you're near all-time highs you're going to see skittishness," said JJ Kinahan, chief strategist at TD Ameritrade. "In this market, the slightest news can change everything,"

Kinahan said that many investors are wondering whether the stock market is priced too high. The average stock trades at 16 times its earnings over the past year, according to S&P Capital IQ. That's slightly higher than the historical average. Some tech stocks, however, are valued much higher. Amazon's stock has lost 27 percent this year, but it's still trading at a lofty 465 times earnings.

"Many of these stocks have come down a lot, but you can't say they're cheap," Kleintop said.

High prices reflect expectations for higher earnings, and companies in the S&P 500 are on track to report that earnings increased 3 percent in the first quarter, according to S&P Capital IQ. The problem is, earnings growth is slowing down. In the previous quarter, earnings jumped nearly 8 percent.

And there are concerns about future profits. Of the companies that have provided forecasts for the second quarter, nearly nine out of 10 have warned of weaker earnings.

Whole Foods cut its profit outlook late Tuesday, saying it's facing increased competition as supermarkets, big-box stores and even online retailers step up their offerings of organic foods. It's the third time the grocery chain has reduced its profit forecast in the last six months. Whole Foods dropped $9.02, or 19 percent, to $38.93.

Among Internet stocks, NetApp, a data management and storage company, fell $1.28, or 4 percent, to $33.70 and salesforce.com lost $1.35, or 3 percent, to $50.43.

Just two of the eight sectors in the S&P 500 fell, information technology and consumer discretionary companies. Gainers included utilities, which rose the most, 1.6 percent. That's a sign investors are still cautious. Investors tend to favor less volatile, high-dividend stocks like power companies when they want to play it safe. Utilities are by far the best-performing sector in the market so far this year, up 13.8 percent.

In other markets, crude oil rose $1.27 to settle at $100.77 a barrel. Gold dropped $19.70 to $1,288.90 an ounce. U.S. government bonds barely moved. The yield on the 10-year Treasury note ended the trading day at 2.59 percent, unchanged from late Tuesday.

Among other companies making big moves:

”” Mondelez surged following news that it will combine its coffee business with D.E. Master Blenders to form a new company, Jacobs Douwe Egberts. The new company will sell Gevalia, Tassimo and Jacobs, among other coffee brands. Mondelez gained $2.88, or 8 percent, to $38.10.

”” Electronic Arts jumped $5.90, or 21 percent, to $33.95 after the video-game maker turned in stronger results late Tuesday. The maker of "The Sims" and "Madden NFL" reported higher profits and revenue than Wall Street expected and forecast stronger earnings over the next year. Electronic Arts has soared 45 percent so far this year.

”” Molson Coors Brewing reported better results than analysts expected on Wednesday. Quarterly earnings rose thanks to a payment it received from Modelo for a joint venture that ended early. Molson's stock rose $2.18, or 4 percent, to $61.93.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	32.43	points or ▲	0.20%	on	Thursday, 8 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,550.97	▲	32.43	▲	0.20%		
	Nasdaq____	4,051.50	▼	-16.18	▼	-0.40%		
	S&P_500___	1,875.63	▼	-2.58	▼	-0.14%		
	30_Yr_Bond____	3.42	▲	0.01	▲	0.35%		

NYSE Volume	 3,385,507,250 	 	 	 	 	  		 
Nasdaq Volume	 2,393,532,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,839.25	▲	42.81	▲	0.63%		
	DAX_____	9,607.40	▲	86.10	▲	0.90%		
	CAC_40__	4,507.24	▲	60.80	▲	1.37%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,455.90	▲	36.80	▲	0.68%		
	Shanghai_Comp	2,015.27	▲	5.19	▲	0.26%		
	Taiwan_Weight	8,930.90	▲	37.68	▲	0.42%		
	Nikkei_225___	14,163.78	▲	130.33	▲	0.93%		
	Hang_Seng.__	21,837.12	▲	90.86	▲	0.42%		
	Strait_Times.__	3,244.18	▲	7.75	▲	0.24%		
	NZX_50_Index_	5,161.41	▼	-27.72	▼	-0.53%		

http://finance.yahoo.com/news/stocks-end-mostly-lower-energy-210026528.html

*Stocks end mostly lower; Energy, utilities fade

Stocks end mostly lower as investor sell utilities and energy stocks; Tesla drops on earnings*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The stock market finished mostly lower on Thursday as investors assessed the latest batch of company earnings and sold utility and energy stocks.

Tesla, a maker of electric cars, fell after reporting a first-quarter loss and saying it would need to invest more in its business.

Companies that pay steady dividends and have a long record of profitability, such as utilities, have surged this year, benefiting from a shift in sentiment as investors sold previously high-flying Internet and small-company stocks. A sell-off in these stocks could be a troubling sign for the overall market.

"The market's still pretty sloppy," said Quincy Krosby, a market strategist at Prudential Financial. "The fear in the market is that the selling spreads to the defensive stocks, the safe havens and that could bring down the whole market."

The Standard & Poor's 500 index fell 2.58 points, or 0.1 percent, to 1,875.63. The Dow Jones industrial average edged up 32.43 points, or 0.2 percent, to 16,550.97. The Nasdaq composite lost 16.18 points, or 0.4 percent, to 4,051.50.

Utility companies in the S&P 500 fell 1.2 percent, paring their gains this year to 12.5 percent. Energy stocks dropped 1.3 percent.

Stocks had started the day higher as investors looked over earnings reports and after some encouraging news on hiring.

The U.S. government reported that the number of Americans seeking unemployment benefits fell 26,000 last week to 319,000, the latest sign that the job market is slowly improving. The drop follows two weeks of increases that reflected mostly temporary layoffs around the Easter holiday.

Keurig Green Mountain was among the big gainers after report earnings.

The maker of specialist coffees climbed $11.98, or 13 percent, to $104.19 after its earnings exceeded analysts' estimates. Keurig, known for its single-serve coffee brewing system, said late Wednesday that its net income climbed 22 percent in its fiscal second quarter.

Twenty-First Century Fox was another winner. The company's stock rose $2.10, or 6.5 percent, to $34.22 after it also reported earnings that surpassed analysts' expectations. Fox's television unit got a boost from higher advertising revenue during the National Football League playoffs and the Super Bowl.

Tesla was among the day's losers.

The company, which makes electric cars, reported a $49.8 million first-quarter loss late Wednesday and said that spending on investments would weigh on earnings later this year. Tesla now sells only one car, the Model S, which starts at $70,000, but it's working on two other vehicles, an electric crossover SUV called the Model X and a lower-cost model.

The company's stock fell $22.76, or 11.3 percent, to $178.59.

Almost 90 percent of companies in the S&P 500 have now reported first-quarter earnings.

Overall earnings are expected to grow by 3.3 percent in the quarter, according to data from S&P Capital IQ. That compares with growth of almost 8 percent in the fourth quarter of 2013 and 5.2 percent in the same period a year ago.

Revenue also grew in the first quarter, rising 3.3 percent versus 1.6 percent growth in the fourth quarter, a positive sign that companies are experiencing stronger demand. Some investors believe that companies are still relying too much on cost-cutting to generate earnings growth.

"Those kind of cost-reduction strategies only go so far before you do need to have more top-line growth, and it remains to be seen whether companies can continue to grow in what remains, by many measure, a slow-growing economy," said Tom Karsten, chief investment officer at Karsten Advisors, a financial adviser and investment management company.

The Dow was the only major stock index to finish the day higher.

The index of blue-chip stocks has started to outperform other areas of the stock market as investors have sold small companies and growth-oriented stocks. The Russell 2000 index, which tracks small company stocks, is down 9.2 percent since March 4. Last year when stocks were surging, small companies were among the biggest gainers.

The move from growth stocks into bigger companies with steady revenues that pay dividends could signal that the market is set for a choppy period of trading, said Ryan Detrick, a senior technical strategist at Schaeffer's investment research.

"The small stocks, the little names, clearly are cracking, whereas the defensive names, the higher-yielding names, are leading," said Ryan Detrick, a senior technical strategist at Schaeffer's Investment Research. "Historically, that's not a sign of a healthy market."

Government bond prices fell. The yield on the 10-year Treasury note climbed to 2.61 percent from 2.59 percent on Wednesday. The yield, which is used to set interest rates on loans including home mortgages, is near its lowest level of the year.

Among other stocks making big moves:

”” Ford gained 35 cents, or 2.3 percent, to $15.81 after the automaker said it will buy back up to $1.8 billion of its own stock. Ford says the buybacks will help offset potential dilution from convertible debt and stock-based compensation for employees.

”” Twitter, which has endured a rough ride since surging on the first day of its initial public offering in November, rose $1.30, or 4.2 percent, to $31.96. The social media company's stock has plunged 52 percent since February.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	32.37	points or ▲	0.20%	on	Friday, 9 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,583.34	▲	32.37	▲	0.20%		
	Nasdaq____	4,071.87	▲	20.37	▲	0.50%		
	S&P_500___	1,878.48	▲	2.85	▲	0.15%		
	30_Yr_Bond____	3.47	▲	0.05	▲	1.52%		

NYSE Volume	 3,014,172,250 	 	 	 	 	  		 
Nasdaq Volume	 1,963,124,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,814.57	▼	-24.68	▼	-0.36%		
	DAX_____	9,581.45	▼	-25.95	▼	-0.27%		
	CAC_40__	4,477.28	▼	-29.96	▼	-0.66%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,442.00	▼	-13.90	▼	-0.25%		
	Shanghai_Comp	2,011.13	▼	-4.14	▼	-0.21%		
	Taiwan_Weight	8,889.69	▼	-41.21	▼	-0.46%		
	Nikkei_225___	14,199.59	▲	35.81	▲	0.25%		
	Hang_Seng.__	21,862.99	▲	25.87	▲	0.12%		
	Strait_Times.__	3,252.13	▲	4.44	▲	0.14%		
	NZX_50_Index_	5,152.67	▼	-8.74	▼	-0.17%		

http://finance.yahoo.com/news/dow-i...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Dow inches to record as earnings reports wind down

Dow ekes out a record; Stocks end higher as reporting of US corporate earnings nears end*
Associated Press
By Bernard Condon, AP Business Writer

NEW YORK (AP) -- The Dow Jones industrial average hit a record on Friday, but without much conviction after a choppy day of trading during which investors couldn't make up their minds whether to buy or sell.

The blue-chip index flitted between small gains and losses at least a dozen times, and ended up beating its old record set last week by less than 2.5 points, or just 0.02 percent.

"The market is having trouble finding direction here," said David Kelley, JPMorgan Funds' chief global strategist. But he added, "I believe for the rest of the year, a warming economy ... will push the market up."

The Standard & Poor's 500 index also eked out a gain, but is no higher than it was in early March, after waffling between weekly gains and losses most of that time.

On Friday, stocks fell broadly from the open as investors took in the latest corporate earnings reports. It was an odd day in which winners became losers, and vice versa.

Stocks of utilities have been in favor lately because of their stable earnings and fat dividends, but investors dumped them Friday, and they closed 1.4 percent lower. That was the biggest drop of the S&P 500's ten sectors.

By contrast, a few big-name Internet stocks that had been crushed in a recent sell-off in that industry managed healthy gains.

Netflix announced it was raising prices for new subscribers of its streaming video service and investors cheered, lifting its stock 2 percent. Tesla Motors and LinkedIn, both down more than 10 percent since April, rose 2 percent and 2.5 percent, respectively.

The Dow edged up 32.37 points for the day, or 0.2 percent, to 16,583.34. That narrowly beat its previous record high of 16,580.84 set on April 30.

The S&P 500 index rose 2.85 points, or 0.2 percent, to 1,878.48. The Nasdaq composite rose 20.37 points, or 0.5 percent, to 4,071.87.

Mixed messages from earnings reports left investors without clear direction.

CBS fell $1.27, or 2 percent, to $56.74 after reporting late Thursday that its first-quarter revenue had fallen short of analysts' projections. Sales from advertising slumped 12 percent.

Ralph Lauren dropped $3.18, or 2 percent, to $148.81 after its forecast for sales for the current quarter disappointed investors.

Hilton Worldwide Holdings rose 43 cents, or 2 percent, to $23.07 after exceeding analysts' expectation for earnings. And Gap rose $1.28, or 3 percent, $40.52. The clothes store chain reported strong sales for April and issued a forecast for the current quarter that was better than investors were expecting.

With most companies out with their results, first-quarter earnings for the S&P 500 are expected to rise 3.4 percent, according to S&P Capital IQ. That's a respectable performance but still down from a nearly 8 percent gain in the fourth quarter.

Companies reporting earnings next week include Macy's, Deere & Co., Cisco Systems and Wal-Mart and Nordstrom.

Investors were also watching the situation in Ukraine. On Friday, fierce fighting in eastern Ukraine left at least seven dead. Pro-Russian militants are pressing ahead with plans for an independence referendum this weekend despite objections from Moscow.

Erik Davidson, deputy chief investment officer of Wells Fargo Private Bank, said investors are still jittery five years after the financial crisis sent stocks tumbling to 12-year lows.

"There is always this worry about what is the next shoe to drop," he said. "So places we only learned about before in geography class become important: Crimea, Ukraine."

The yield on the 10-year Treasury note rose to 2.62 percent from 2.61 percent on Thursday. The price of oil fell 27 cents, or 0.3 percent, to $99.99 a barrel.

Among other stocks making big moves:

— Symantec rose 66 cents, or 3 percent, to $20.79. The security software maker said cost cuts helped boost its fourth-quarter profit margins and net income.

— News Corp. rose 89 cents, 5 percent, to $18. The publishing company, which owns The Wall Street Journal, reported net income fell in its fiscal third quarter, but still beat analysts' expectations due to better book publishing. That unit thrived thanks to of the "Divergent" series, which was launched as a movie in March.

2833


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	112.13	points or ▲	0.68%	on	Monday, 12 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,695.47	▲	112.13	▲	0.68%		
	Nasdaq____	4,143.86	▲	71.99	▲	1.77%		
	S&P_500___	1,896.65	▲	18.17	▲	0.97%		
	30_Yr_Bond____	3.49	▲	0.03	▲	0.72%		

NYSE Volume	 2,986,677,250 	 	 	 	 	  		 
Nasdaq Volume	 1,864,065,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,851.75	▲	37.18	▲	0.55%		
	DAX_____	9,702.46	▲	121.01	▲	1.26%		
	CAC_40__	4,493.65	▲	16.37	▲	0.37%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,429.00	▼	-13.00	▼	-0.24%		
	Shanghai_Comp	2,052.87	▲	41.74	▲	2.08%		
	Taiwan_Weight	8,808.61	▼	-81.08	▼	-0.91%		
	Nikkei_225___	14,149.52	▼	-50.07	▼	-0.35%		
	Hang_Seng.__	22,261.61	▲	398.62	▲	1.82%		
	Strait_Times.__	3,222.43	▼	-29.70	▼	-0.91%		
	NZX_50_Index_	5,162.42	▲	9.75	▲	0.19%		

http://finance.yahoo.com/news/stock-market-touches-another-record-213538361.html

*Stock market touches another record

Stocks rise to record levels as investors look to pick up bargains after slump*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The stock market returned to record levels on Monday as investors regained their appetite for riskier stocks.

After beating down Internet and small companies for two months, investors decided that those stocks had fallen enough. Among the big gainers were Twitter and Facebook, which had plunged in March and April. The Russell 2000, an index made up of small companies, climbed the most in two months.

Investors have been more cautious this year than last. They've favored big, less volatile stocks that pay rich dividends because of concerns about the outlook for the economy. Utility and energy companies have been among the beneficiaries of this trend, and have outperformed the overall market in 2014.

While interest rates remain low, investors will likely keep getting drawn back into stocks after any sell-off because holding cash isn't generating any returns, said Tim Courtney, chief investment officer at Exencial, an independent wealth management company.

"There is some bargain buying in some of the names that got hit hard in March and April," said Courtney

On Monday, the Standard & Poor's 500 index rose 18.17 points, or 1 percent, to finish at an all-time high of 1,896.65. The index last closed at a record high on April 2, when it reached 1,890.90.

The Dow Jones industrial average gained 112.13 points, or 0.7 percent, to end at 16,695.47 Monday. The Dow's previous record high was 16,583.34 on Friday.

The Nasdaq climbed 71.99 points, or 1.8 percent, to 4,143.86.

The Russell 2000 index rose 26.4 points, or 2.4 percent, to 1,133.65, its biggest gain since March 4. The index had slumped almost 10 percent from March 4 to May 9 as investors sold riskier stocks. The index still remains down 2.6 percent for the year after surging 37 percent in 2013.

Gains on Monday were led by technology and industrial companies, sectors that are expected to benefit most if the economy starts growing faster.

Facebook rose $2.59, or 4.5 percent, to $59.83, reducing the stock's decline since March 10 to 17 percent. Twitter, another stock that has been beaten down recently, rose $1.89, or 5.9 percent, to $33.94.

Stocks also got a boost from some merger news.

Pinnacle Foods surged $4.02, or 13.2 percent, to $34.47 after the company agreed to be acquired by Hillshire Brands. Pinnacle's brands include Duncan Hines and Aunt Jemima, while Hillshire makes Jimmy Dean and Sara Lee products. Hillshire fell $1.19, or 3.2 percent, to $35.76.

Even though stocks have largely moved sideways for most of the year following a surge in 2013, investors are still more concerned about missing the next leg of a rally than a market fall, said Doug Cote, chief market strategist, Voya Investment Management.

In government bond trading, prices fell. The yield on the 10-year Treasury note climbed to 2.66 percent from 2.63 percent on Friday.

Bond yields started falling at the start of the year as an unusually harsh winter put the brakes on the U.S. economy. They have continued to fall even as reports show the economy is strengthening again.

"There are a number of mysteries out there in the market," said Gerry Paul, chief investment officer of U.S. value equities at AllianceBernstein. "To me, one of the biggest is why the 10-year Treasury is trading where it is."


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	19.97	points or ▲	0.12%	on	Tuesday, 13 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,715.44	▲	19.97	▲	0.12%		
	Nasdaq____	4,130.17	▼	-13.69	▼	-0.33%		
	S&P_500___	1,897.45	▲	0.80	▲	0.04%		
	30_Yr_Bond____	3.45	▼	-0.04	▼	-1.09%		

NYSE Volume	 2,854,406,750 	 	 	 	 	  		 
Nasdaq Volume	 1,930,495,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,873.08	▲	21.33	▲	0.31%		
	DAX_____	9,754.43	▲	51.97	▲	0.54%		
	CAC_40__	4,505.02	▲	11.37	▲	0.25%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,475.40	▲	46.40	▲	0.85%		
	Shanghai_Comp	2,050.73	▼	-2.14	▼	-0.10%		
	Taiwan_Weight	8,817.94	▲	9.33	▲	0.11%		
	Nikkei_225___	14,425.44	▲	275.92	▲	1.95%		
	Hang_Seng.__	22,352.38	▲	90.77	▲	0.41%		
	Strait_Times.__	3,222.43	▼	-29.70	▼	-0.91%		
	NZX_50_Index_	5,199.34	▲	36.92	▲	0.72%		

http://finance.yahoo.com/news/p-500-flirts-1-900-211939291.html

*S&P 500 flirts with 1,900, but falls short

S&P 500 flirts with 1,900 but falls short of milestone; Keurig pops after Coca-Cola investment*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The Standard & Poor's 500 index is flirting with a new milestone: 1,900.

The index briefly climbed above that level on Tuesday before dropping back to close just below it. Still, it set an all-time closing high by a fraction of point.

Stocks have gained as most investors remain optimistic that the economy will start to accelerate this year following a cold winter that stymied growth. First-quarter corporate earnings came in better than expected, giving stocks a lift.

Whether the S&P 500 climbs beyond the 1,900 level or falls back now depends on the how the economy develops, said John Canally, chief market strategist for LPL Financial. If growth falters, stocks will likely slide, he said.

"But if the economy can deliver ... and the global economy can accelerate, we'll look back at 1,900 and say 'Yes that was just a stop on the way to 2,000,'" he said.

On Tuesday, the Standard & Poor's 500 index rose 0.8 points, or less than 0.1 percent, to 1,897.45, after climbing as high as 1,902 in early trading. The Dow Jones industrial average rose 19.97 points, or 0.1 percent, to 16,715.44. The Nasdaq composite was the laggard of the three. The technology-focused index fell 13.7 points, or 0.3 percent, to 4,130.17.

Keurig Green Mountain was the biggest gainer in the S&P 500 index. Its stock surged $8.36, or 7.6 percent, to $119.07 after Coca-Cola raised its stake in the coffee company. Coca-Cola, the world's biggest beverage company, disclosed in a regulatory filing that a subsidiary now has a 16 percent stake in Keurig.

Investors were also assessing corporate earnings.

McKesson jumped $5.77, or 3.3 percent, to $180 after the prescription drug distributor said Monday its net income rose 43 percent in its fiscal fourth quarter. Its overall earnings got a boost from stronger results in North America and lower costs.

Beauty products company Elizabeth Arden plunged $8.13, or 23 percent, to $27.50 after it reported an unexpected quarterly loss and disclosed it has hired Goldman Sachs to help it explore strategic alternatives.

Overall, though, first-quarter earnings have come in better than analysts expected.

Nearly all companies in the S&P 500 have reported results, and earnings are forecast to grow by 3.3 percent when final figures are calculated, according to S&P Capital IQ data. Three weeks ago, analysts were expecting earnings to fall 1.1 percent.

Another encouraging sign was that company revenue growth accelerated in the quarter to 3.2 percent, from 1.6 percent in the fourth quarter.

Despite the positive backdrop, the stock market's move higher this year has been more of a grind compared with last year's surge. Along with worries about the U.S., there are concerns about growth overseas, as well as tensions with Russia after that country annexed the Crimea region in Ukraine.

Another factor is that stocks, having rallied for more than five years, are also no longer the bargain they once were.

"In 2009 the market was cheap. Now we're fairly valued, maybe a bit overvalued," said Canally of LPL Financial.

The price-earnings ratio, a measure of how expensive stocks are compared with next year's expected earnings, is 15.2 for companies in the S&P 500. That is below their average of 16.4 over the last twenty years, according to FactSet data, but above the 11.4 at the start of 2009.

In government bond trading, prices rose. The yield on the 10-year Treasury note dropped to 2.61 percent, from 2.66 percent late Monday.

The 1,900 level for the S&P 500 will likely prove a psychological hurdle for investors, as investors reassess the stock market and the economy, said Sean McCarthy, regional chief investment officer for Wells Fargo private bank. More good news on the economy should push stocks higher.

"The pause we are seeing today, is really just that, a pause, with the market coming to grips with where we are," said Lynch.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-101.47	points or ▼	-0.61%	on	Wednesday, 14 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,613.97	▼	-101.47	▼	-0.61%		
	Nasdaq____	4,100.63	▼	-29.54	▼	-0.72%		
	S&P_500___	1,888.53	▼	-8.92	▼	-0.47%		
	30_Yr_Bond____	3.38	▼	-0.08	▼	-2.29%		

NYSE Volume	 2,804,939,750 	 	 	 	 	  		 
Nasdaq Volume	 1,746,047,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,878.49	▲	5.41	▲	0.08%		
	DAX_____	9,754.39	▼	-0.04	▲	0.00%		
	CAC_40__	4,501.04	▼	-3.98	▼	-0.09%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,475.90	▲	0.50	▲	0.01%		
	Shanghai_Comp	2,047.91	▼	-2.82	▼	-0.14%		
	Taiwan_Weight	8,875.16	▲	57.22	▲	0.65%		
	Nikkei_225___	14,405.76	▼	-19.68	▼	-0.14%		
	Hang_Seng.__	22,582.77	▲	230.39	▲	1.03%		
	Strait_Times.__	3,259.09	▲	36.66	▲	1.14%		
	NZX_50_Index_	5,213.36	▲	14.02	▲	0.27%		

http://finance.yahoo.com/news/stocks-fall-back-record-levels-205618970.html

*Stocks fall back from record levels

Stocks fall back from record levels as investors play it safe; Treasurys make big gains*
Associated Press
By Steve Rothwell, AP Market Writer

NEW YORK (AP) -- Stocks fell back from record levels on Wednesday as investors decided it was better to play it safe.

A day after the Standard & Poor's 500 index climbed above 1,900 for the first time, investors turned their backs on stocks that would benefit more than others in a reviving economy. Consumer discretionary stocks, a group that includes luxury retailers and entertainment companies, dropped the most. Industrial and technology companies also fell, and riskier, small-company stocks resumed a sell-off after rebounding on Monday.

Instead, investors bought safe and steady stocks. Utility and telecom stocks, which investors favor when the markets get choppy, rose the most in the S&P 500. U.S. government bonds also rallied, pushing the yield on the 10-year Treasury note to its lowest in more than six months, another sign that investors were favoring safer assets.

"There's some internal self-correction and rotation going on beneath the surface," said Jim Russell, a regional investment director at US Bank. Russell said stocks were getting closer to being fairly valued.

The Standard & Poor's 500 index fell 8.92 points, or 0.5 percent, to 1,888.53. The Dow Jones industrial average dropped 101.47 points, or 0.6 percent, to 16,613. The Nasdaq composite fell 29.54 points, or 0.7 percent, to 4,100.63.

The Russell 2000 index, a gauge of small-company stocks, fell 18.02 points, or 1.6 percent, to 1,103.14. The index has slumped 9 percent since peaking March 4 as investors sold riskier stocks.

Bonds benefited from investor's appetite for less risky assets.

The yield on the 10-year Treasury note, which falls when the price of the bond rises, dropped to the lowest it's been since October. The yield declined to 2.54 percent from 2.61 percent late Tuesday.

"People are rotating out of equities and into bonds," said Mark Pibl, U.S. fixed income strategists at Canaccord Genuity, a wealth manager, of Wednesday's move in the bond market.

Bonds have surged this year because inflation remains low and investors have become concerned that the economy may not grow as quickly as previously anticipated. Barclays' index of Treasury bonds maturing in 20 years or more has gained 10.6 percent, outperforming the 2.2 percent rise for the S&P 500 stock index.

In corporate news, Fossil, a maker of watches, jewelry and accessories, was the biggest decliner in the S&P 500.

Fossil fell $11.45, or 10.3 percent, to $100 after the company said late Tuesday that its first-quarter net income fell 8 percent, despite sales gains across all its business segments. The results beat market expectations, but the company gave a weak forecast.

Deere was another company to decline after reporting earnings.

The maker of farm equipment fell $1.91, or 2 percent, to $91.70 after the company reported a decline in second-quarter net income because of weaker demand for its products. The company also cut its full-year sales forecast.

Almost all of the companies in the S&P 500 have finished reporting their first-quarter earnings. Earnings rose 3.3 percent for the period, according to S&P Capital IQ. That compares with growth of almost 8 percent in the fourth quarter.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-167.16	points or ▼	-1.01%	on	Thursday, 15 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,446.81	▼	-167.16	▼	-1.01%		
	Nasdaq____	4,069.29	▼	-31.33	▼	-0.76%		
	S&P_500___	1,870.85	▼	-17.68	▼	-0.94%		
	30_Yr_Bond____	3.34	▼	-0.04	▼	-1.13%		

NYSE Volume	 3,543,273,500 	 	 	 	 	  		 
Nasdaq Volume	 2,053,214,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,840.89	▼	-37.60	▼	-0.55%		
	DAX_____	9,656.05	▼	-98.34	▼	-1.01%		
	CAC_40__	4,444.93	▼	-56.11	▼	-1.25%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,490.20	▲	14.30	▲	0.26%		
	Shanghai_Comp	2,024.97	▼	-22.94	▼	-1.12%		
	Taiwan_Weight	8,880.65	▲	5.49	▲	0.06%		
	Nikkei_225___	14,298.21	▼	-107.55	▼	-0.75%		
	Hang_Seng.__	22,730.86	▲	148.09	▲	0.66%		
	Strait_Times.__	3,272.49	▲	13.40	▲	0.41%		
	NZX_50_Index_	5,194.96	▼	-18.40	▼	-0.35%		

http://finance.yahoo.com/news/dow-dips-worst-day-5-213216227.html

*Dow dips to worst day in 5 weeks; bond prices jump

Investors pull back from stocks after weak Wal-Mart results; mixed economic news; bonds rise*
Associated Press
By Ken Sweet, AP Markets Writer

NEW YORK (AP) -- Investors retreated from stocks Thursday, leading the Dow Jones industrial average to its worst day in five weeks, after disappointing earnings from Wal-Mart and mixed news about the global economy.

Financial markets reflected broader investor jitters: government bonds rose, small-company stocks continued to plunge, and safe, slower-growth industries fared the best.

The latest economic data from the United States was mixed: Factory output fell. But fewer people sought unemployment benefits, evidence that hat solid hiring should continue. The news was more disappointing in Europe, where the economy of the 18 countries that share the euro saw output rise just 0.2 percent in the first quarter.

"People are just a little bit nervous about the entire global economic environment at the moment," said Ryan Larson, head of U.S. equities at the Royal Bank of Canada.

The Dow lost 167.16 points, or 1 percent, to 16,446.81. The Standard & Poor's 500 index fell 17.68 points, or 0.9 percent, to 1,870.85 and the Nasdaq composite fell 31.33 points, or 0.8 percent, to 4,069.29.

The Dow was dragged down by Wal-Mart, which fell $1.91, or 2.4 percent, to $76.83. The company reported lower earnings for its most recent quarter and warned that the current one was not expected to be much better.

The company, like many other retailers, blamed harsh winter weather. Department store operator Kohl's fell after announcing a drop in first-quarter earnings. Kohl's ended down $1.82, or 3.4 percent, to $52.21.

One bright spot was Cisco Systems. The telecommunications equipment maker jumped $1.37, or 6 percent, to $24.18. It was one of only two stocks in the Dow 30 to rise. Cisco reported earnings that were better than expected.

The broader stock sell-off comes two days after the Dow and S&P 500 hit record highs.

But the bigger story of what happened on Wall Street was in the bond market.

Bonds had their best day since early February, when measured by the Barclays U.S. Aggregate bond index, a broad gauge of the entire market, from Treasurys to corporate debt.

The yield on the U.S. 10-year note hit its lowest level in 10 months, dropping to 2.49 percent. At the beginning of the week, the 10-year had a yield of 2.66 percent. That is an extraordinary move for bond yields.

Typically, such a movement in the bond market would signal that there was something wrong with the U.S. economy. But Thursday's economic news was mixed at worst. Factory production declined in April. But the number of Americans seeking unemployment benefits fell to a seven-year low last week.

To add to the mystery, U.S. consumer prices rose at their fastest pace in nearly a year in April, the Labor Department said Thursday. The consumer price index, an often-quoted barometer of inflation in the U.S., rose by 0.3 percent last month due to higher food and gas prices. Inflation is on pace to rise 2 percent this year. While not alarming, it is noticeably higher than a year ago.

In a normal environment, investors don't buy bonds at 2.5 percent interest if inflation is running at 2 percent. It's just not worth it.

"It's really confusing, to be honest," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago, who oversees $66 billion in assets. "The bond market thinks there's a risk out there that the stock market isn't seeing."

One explanation is that foreign buyers raced into the U.S. Treasury market looking for safety, causing a distorted move in prices, traders said. Despite their fall, yields of U.S. government bonds are higher than those of some developed economies.

"This flight to quality is overwhelming bond investors," said Tom di Galoma, a fixed-income trader at ED&F Man Capital.

Telecommunications stocks, a popular safety play, did rise Thursday, but barely. AT&T rose 13 cents, or 0.4 percent, to $36.52 while Verizon Communications fell 5 cents, or 0.1 percent, to $47.96.

Once again, investors sold riskier stocks in the technology and biotechnology industries. Facebook, Netflix and Biogen, all companies who have seen large waves of selling in the last several weeks, fell 2 percent or more.

The Russell 2000 index, made up of mostly small, riskier companies, fell 0.7 percent Thursday. The index is down 9.3 percent from its March 4 high, and at one point Thursday, dipped into what is known on Wall Street as a correction. That is when a stock or index falls 10 percent or more from a recent peak.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	44.5	points or ▲	0.27%	on	Friday, 16 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,491.31	▲	44.50	▲	0.27%		
	Nasdaq____	4,090.59	▲	21.30	▲	0.52%		
	S&P_500___	1,877.86	▲	7.01	▲	0.37%		
	30_Yr_Bond____	3.35	▲	0.01	▲	0.30%		

NYSE Volume	 3,169,126,500 	 	 	 	 	  		 
Nasdaq Volume	 1,718,499,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,855.81	▲	14.92	▲	0.22%		
	DAX_____	9,629.10	▼	-26.95	▼	-0.28%		
	CAC_40__	4,456.28	▼	-44.76	▼	-0.99%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,458.90	▼	-31.30	▼	-0.57%		
	Shanghai_Comp	2,026.50	▲	1.53	▲	0.08%		
	Taiwan_Weight	8,888.45	▲	7.80	▲	0.09%		
	Nikkei_225___	14,096.59	▼	-201.62	▼	-1.41%		
	Hang_Seng.__	22,712.91	▼	-17.95	▼	-0.08%		
	Strait_Times.__	3,262.59	▼	-9.90	▼	-0.30%		
	NZX_50_Index_	5,186.19	▼	-8.77	▼	-0.17%		

http://finance.yahoo.com/news/stock-market-manages-slight-gain-210048496.html

*Stock market manages slight gain after choppy day

Stocks eke out gain after choppy day; Verizon climbs after Buffett reveals stake*
Associated Press
By Matthew Craft, AP Business Writer 

NEW YORK (AP) -- Better results from retailers and demand for telecommunications shares market helped push the stock market to a small gain on Friday.

Telecoms rose the most among the 10 industries in the Standard & Poor's 500 index. Their jump followed news that Warren Buffett's Berkshire Hathaway made a new investment in Verizon Communications. Other big-name investors, including John Paulson, also reportedly took stakes. Verizon climbed $1.11, or 2 percent, to $49.07.

Major indexes spent much of the day meandering around the breakeven mark. Stocks started higher at the open but reversed course after a report on consumer confidence showed a drop last month. The market took a sudden turn up in the last hour of trading, turning minor losses into minor gains.

"We've had a lot of starts and stops recently," said Dan Cook, a director at Nadex, an exchange in Chicago. "We're at high levels, so it's a time to be cautious."

The S&P 500 index gained 7.01 points, or 0.4 percent, to close at 1,877.86.

The Dow Jones industrial average rose 44.50 points, or 0.3 percent, to end at 16,491.31. The Nasdaq composite index rose 21.30 points, or 0.5 percent, to finish at 4,090.59.

Investors said the choppy trading reflects a larger uncertainty. The stock market is trading near record highs, but investors see little reason for excitement. Earlier in the week, the S&P 500 index notched all-time highs two days in a row. On Thursday, mixed economic news and a weak earnings report from Wal-Mart Stores drove the market to its worst day in more than a month.

Jim Paulsen, chief investment strategist at Wells Capital Management in Minneapolis, said traders who hunt for patterns in the market's moves have spotted some warning signs worth noting. For instance, the yield on the 10-year Treasury note recently dropped to its lowest point this year. That's usually a sign of an economic slowdown.

"But most of the economic reports are coming in better than people thought," Paulsen said. "If you only paid attention to the bond market over the past few years, you'd think the world was going to end. Not the stock market. Which one was right?"

Before the market opened Friday, the government reported that builders started work on more houses in April, as U.S. construction surged to its highest pace in six months. Nearly all of that increase, however, came from new apartment buildings, a sign that Americans are still struggling to buy single-family homes.

Nordstrom surged $9.06, or 15 percent, to $70.55, the biggest gain in the S&P 500. The department store chain reported higher quarterly profits than analysts had expected late Thursday, as better sales at its discount Rack stores boosted results.

J.C. Penney surged $1.36, or 16 percent, to $9.73. Rising sales helped the retailer turn in better results than analysts expected late Thursday. Sales at stores open at least a year — a key gauge of a chain's health — increased more than 6 percent in its first quarter.

3388


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	20.55	points or ▲	0.12%	on	Monday, 19 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,511.86	▲	20.55	▲	0.12%		
	Nasdaq____	4,125.81	▲	35.23	▲	0.86%		
	S&P_500___	1,885.08	▲	7.22	▲	0.38%		
	30_Yr_Bond____	3.38	▲	0.04	▲	1.08%		

NYSE Volume	 2,636,020,500 	 	 	 	 	  		 
Nasdaq Volume	 1,580,758,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,844.55	▼	-11.26	▼	-0.16%		
	DAX_____	9,659.39	▲	30.29	▲	0.31%		
	CAC_40__	4,469.76	▲	13.48	▲	0.30%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,390.30	▼	-68.60	▼	-1.26%		
	Shanghai_Comp	2,005.18	▼	-21.32	▼	-1.05%		
	Taiwan_Weight	8,899.90	▲	11.45	▲	0.13%		
	Nikkei_225___	14,006.44	▼	-90.15	▼	-0.64%		
	Hang_Seng.__	22,704.50	▼	-8.41	▼	-0.04%		
	Strait_Times.__	3,262.43	▼	-0.16	▲	0.00%		
	NZX_50_Index_	5,167.78	▼	-18.41	▼	-0.35%		

http://finance.yahoo.com/news/stocks-edge-higher-drifting-early-162649422.html

*Stocks edge higher after drifting in early trade

US stocks notch small gains; AT&T and DirecTV fall after announcing deal*
Associated Press
By Alex Veiga, AP Business Writer 

Stocks finished slightly higher on Monday, adding to the small gains the market carved out at the end of last week.

A dearth of fresh economic data had many investors focusing on headline-grabbing corporate deals, including a $48.5 billion bid by AT&T to acquire satellite TV provider DirecTV and a joint venture between Johnson Controls and a Chinese company that will form the world's largest maker of automotive interiors.

The latest batch of deals is a good sign for the market and further illustrates that many companies have the financial ammunition and appetite to grow through acquisitions.

Even so, much of the market remained in drift mode Monday, but still near the latest all-time high set by the Standard & Poor's 500 index a week ago.

"We're seeing big deals ”” this AT&T deal is big," said Marc Doss, regional chief investment officer for Wells Fargo Private Bank. "But it's not enough to drive us dramatically higher in the short run."

The three major indexes were down in premarket trading as investors reacted to the AT&T-DirecTV deal, which was announced late Sunday. The proposed deal would create the second-largest pay TV operator behind a combined Comcast-Time Warner Cable. But such a combination could face close scrutiny from the Federal Communications Commission and Department of Justice.

When regular trading began, the S&P 500 and Nasdaq composite drifted into positive territory, while the Dow Jones industrial average lagged.

AT&T and DirecTV opened lower and never recovered. AT&T ended down 36 cents, or 1 percent, at $36.38. DirecTV fell $1.53, or 1.8 percent, to $84.65.

Word that AstraZeneca rejected rival drugmaker Pfizer's latest takeover offer helped boost Pfizer's shares 16 cents, or 0.5 percent, to $29.28.

Pfizer has been courting AstraZeneca since January. It announced Sunday that it was ready to raise its stock-and-cash offer by 15 percent to $118.8 billion.

By midmorning, major U.S. indexes had each captured small gains that would hold the rest of the day.

The S&P 500 index gained 7.22 points, or 0.4 percent, to close at 1,885.08.

The Dow Jones industrial average added 20.55 points, or 0.1 percent, to end at 16,511.86.

The Nasdaq composite index rose 35.23 points, or 0.9 percent, to finish at 4,125.82.

The S&P, which hit an all-time high two days in a row early last week, is up 2 percent for the year. The Dow and Nasdaq remain down for 2014.

The yield on the 10-year U.S. Treasury note rose to 2.54 percent from 2.52 percent late Friday.

Investors are in a wait-and-see mode, having digested a mostly positive but unspectacular batch of first-quarter corporate earnings in recent weeks, in addition to mixed economic news.

A light schedule of economic reports for much of this week means investors may not get much fresh insight about the economy until later this week, when they'll see new figures on sales of previously occupied homes and newly built homes. On Wednesday, the Federal Reserve releases the minutes of last month's meeting of the central bank's policy committee.

"To this point, we've seen a rotation within and not out of equities, and we expect that trend to continue into the mid-year," said Terry Sandven, chief equity strategist for U.S. Bank.

Among other stocks making merger-related gains on Monday was Abbott Laboratories. Financial analysts cheered the medical device maker's proposed acquisition of CFR Pharmaceuticals for nearly $3 billion. Abbott's stock rose 57 cents, or 1.5 percent, to $39.63.

Meanwhile, Johnson Controls jumped $1.91, or 4.3 percent, to $46.69 on news of its planned venture with China-based Yanfeng Automotive Trim Systems.

Seven of the 10 industry sectors in the S&P 500 ended trading higher, led by technology stocks. Utilities were the biggest laggard.

TripAdvisor topped all stocks in the S&P 500, gaining $4.25, or 5.2 percent, to $86.41. American Electric Power posted the biggest decline, falling $1.68, or 3.2 percent, to $51.02.

Campbell Soup also ended lower after the food company reported earnings that fell short of Wall Street estimates. The company also lowered its full-year revenue outlook, noting that it was disappointed that soup sales failed to meet expectations. Its shares fell $1.06, or 2.3 percent, to $44.06.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-137.55	points or ▼	-0.83%	on	Tuesday, 20 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,374.31	▼	-137.55	▼	-0.83%		
	Nasdaq____	4,096.89	▼	-28.92	▼	-0.70%		
	S&P_500___	1,872.83	▼	-12.25	▼	-0.65%		
	30_Yr_Bond____	3.38	▼	-0.01	▼	-0.24%		

NYSE Volume	 2,978,734,000 	 	 	 	 	  		 
Nasdaq Volume	 1,768,374,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,802.00	▼	-42.55	▼	-0.62%		
	DAX_____	9,639.08	▼	-20.31	▼	-0.21%		
	CAC_40__	4,452.35	▼	-17.41	▼	-0.39%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,401.70	▲	11.40	▲	0.21%		
	Shanghai_Comp	2,008.12	▲	2.94	▲	0.15%		
	Taiwan_Weight	8,887.79	▼	-12.11	▼	-0.14%		
	Nikkei_225___	14,075.25	▲	68.81	▲	0.49%		
	Hang_Seng.__	22,834.68	▲	130.18	▲	0.57%		
	Strait_Times.__	3,266.34	▲	3.91	▲	0.12%		
	NZX_50_Index_	5,134.89	▼	-32.89	▼	-0.64%		

http://finance.yahoo.com/news/weak-results-retailers-drag-us-205421363.html

*Weak results at retailers drag US stocks lower

Stocks slide after US retailers report weak results; Staples, Dick's Sporting Goods plunge*

Associated Press
By Alex Veiga, AP Business Writer 

Retailers are used to throwing big sales. On Tuesday, it was investors who unloaded shares in several big retail chains, dragging down U.S. stocks and wiping out small gains from a day earlier.

Disappointing earnings from Staples, Dick's Sporting Goods, Urban Outfitters and others triggered the selling spree.

The downturn in retail stocks came in a slow week for economic news and ahead of the Memorial Day weekend, which contributed to lighter-than-usual trading volumes. The weakness stirred fresh concerns about the retail sector and the outlook for consumer spending in the U.S.

"The fact that we're seeing such widespread weak growth among retailers means many (investors) are extrapolating that to the rest of the year," said Kate Warne, an investment strategist at Edward Jones.

Dick's Sporting Goods plunged 18 percent after its earnings and revenue fell short of what investors were expecting. The stock fell $9.56 to $43.60. Staples dropped 13 percent after the office supply chain said its earnings fell sharply in the latest quarter. Staples slid $1.68 to $11.71.

Also reporting weak sales: Urban Outfitters and TJX, the parent company of T.J. Maxx, Marshalls and other stores. Urban Outfitters dropped $3.19, or 8.8 percent, to $32.98. TJX shed $4.45, or 7.6 percent, to $53.95.

Home Depot bucked the trend, even though its latest quarterly results fell short of Wall Street's expectations. The home improvement retailer said a key sales metric improved despite a slow start to the spring home-selling season. The company also raised its full-year earnings forecast. Its stock climbed $1.46, or 2 percent, to $77.96.

U.S. index futures fell early Tuesday, before the opening of regular stock trading, as investors reacted to the dismal earnings results. The market opened lower and remained in the red the rest of the day. The selling accelerated around midday.

"It seems like this is more about taking some profits on stocks that have enjoyed some nice profits and kind of reassessing as to what they want to do with their investments," said JJ Kinahan, chief strategist at TD Ameritrade.

The Standard & Poor's 500 index fell 12.25 points, or 0.7 percent, to close at 1,872.83. The index is up 1.3 percent for the year.

The Dow Jones industrial average slid 137.55 points, or 0.8 percent, to end at 16,374.31. The Nasdaq composite index dropped 28.92 points, or 0.7 percent, to finish at 4,096.89.

The Dow and Nasdaq remain down for 2014.

Small-company stocks fell more than the rest of the market as investors ditched higher-risk investments. The Russell 2000 index sank 16.53 points, or 1.5 percent, to 1,097.90, near a six-month low.

Bond prices rose, driving the yield on the 10-year U.S. Treasury note down to 2.51 percent from 2.54 percent late Monday. Investors tend to buy bonds when they see a time of weakness in stocks overall.

Nine of the 10 sectors in the S&P 500 index fell, led by telecommunications stocks. The only one that rose was utilities. Investors tend to favor that sector when they want to play it safe with low-risk stocks that pay steady dividends.

A week after the S&P touched an all-time high, the market has mostly alternated between small gains and losses. The three major indexes finished higher for the second trading day in a row Monday. A light schedule of economic reports for much of this week heading into Memorial Day weekend is likely to thin trading as the weekend nears.

"Light volume doesn't mean low volatility," noted Erik Davidson, deputy chief investment officer at Wells Fargo Private Bank. "Sometimes it means high volatility because it doesn't take much to move the market."

Among other the stocks making news Tuesday:

— General Motors recalled 2.4 million vehicles in the U.S. as part of a broader effort to resolve outstanding safety issues more quickly. Shares in GM lost $1.07, or 3.1 percent, to $33.18.

— Medtronic agreed to pay more than $1 billion to settle long-standing patent litigation with fellow medical device maker Edwards Lifesciences over replacement heart valves. Medtronic's stock fell 93 cents, or 1.5 percent, to $59.41.

— Target fell $1.68, or 2.9 percent, to $56.61. The retailer fired the president of its troubled Canadian operations, replacing him with a company insider.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	158.75	points or ▲	0.97%	on	Wednesday, 21 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,533.06	▲	158.75	▲	0.97%		
	Nasdaq____	4,131.54	▲	34.65	▲	0.85%		
	S&P_500___	1,888.03	▲	15.20	▲	0.81%		
	30_Yr_Bond____	3.42	▲	0.04	▲	1.27%		

NYSE Volume	 2,762,936,000 	 	 	 	 	  		 
Nasdaq Volume	 1,689,085,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,821.04	▲	19.04	▲	0.28%		
	DAX_____	9,697.87	▲	58.79	▲	0.61%		
	CAC_40__	4,469.03	▲	16.68	▲	0.37%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,403.90	▲	2.20	▲	0.04%		
	Shanghai_Comp	2,024.95	▲	16.83	▲	0.84%		
	Taiwan_Weight	8,862.42	▼	-25.37	▼	-0.29%		
	Nikkei_225___	14,042.17	▼	-33.08	▼	-0.24%		
	Hang_Seng.__	22,836.52	▲	1.84	▲	0.01%		
	Strait_Times.__	3,261.78	▼	-3.69	▼	-0.11%		
	NZX_50_Index_	5,108.57	▼	-26.32	▼	-0.51%		

http://finance.yahoo.com/news/us-stocks-recover-tiffany-shines-210926171.html

*US stocks recover; Tiffany shines on earnings gain

US stocks rebound from prior day losses; Tiffany, Netflix among big risers*
Associated Press
By Alex Veiga, AP Business Writer

Major U.S. stock indexes mounted a solid comeback Wednesday, recovering their losses from the prior day and finishing on track for a weekly gain.

It was the Dow Jones industrial average's biggest gain in five weeks.

In the absence of any major new economic data, investors focused on companies reporting quarterly earnings or otherwise garnering headlines.

Tiffany & Co. was a favorite early on, vaulting more than 9 percent on a sharp increase in earnings and revenue. Traders also cheered news of Netflix's plans to make a deeper foray into Europe, sending the Internet video service's shares up 5 percent.

Investors got a closer look at discussions held by the Federal Reserve's policymakers in their most recent meeting last month. Wall Street's reaction was muted, however, and the market kept on the upward trajectory it set upon early on.

U.S. index futures rose before the opening of regular stock trading. The market opened higher and stayed in positive territory throughout the day.

Major indexes have finished higher three of the last four trading days.

"Since there was no real solid news to continue into a two-day sell-off, we're getting a little bit of a bounce today," said Joe Peta, a managing director of Novus.

The Standard & Poor's 500 index gained 15.20 points, or 0.8 percent, to close at 1,888.03. The index is up 2.2 percent for the year.

The Dow Jones industrial average rose 158.75 points, or nearly 1 percent, to end at 16,533.06. The Nasdaq composite index added 34.65 points, or 0.9 percent, to finish at 4,131.54.

The Dow and Nasdaq remain down for 2014.

Small-company stocks also rebounded. The Russell 2000 index rose 5.73 points, or 0.5 percent, to 1,103.63.

Bond prices fell, driving the yield on the 10-year U.S. Treasury note up to 2.54 percent from 2.51 percent late Tuesday.

All 10 industry sectors in the S&P 500 rose, led by consumer discretionary and energy stocks.

The stock market has fluctuated between gains and losses on an almost daily basis as investors try to get a better handle on the trajectory of the economy following a weak start to the year.

That pattern continued even after the S&P 500 hit a high early last week.

In all, the market has changed course from one day to another nearly 60 percent of the time so far this year, something not seen since 2008 during the financial crisis, Peta said.

"It is a schizophrenic market that doesn't seem to have much of a memory from one day to the next," he said.

The Fed meeting minutes released Wednesday shed little new light on a key question for many investors: When will the Fed start raising interest rates?

Fed officials discussed how to unwind the support the central bank has given the economy once they decide to begin raising the Fed's key short-term rate. Because the economy is still recovering, most analysts don't think the Fed will start raising rates before the second half of 2015.

The market got a more detailed look at corporate America with a new batch of company earnings.

Tiffany said its earnings spiked 50 percent in the first quarter as worldwide sales jumped by double digits and the company raised its prices. The results beat analysts' expectations and the jeweler raised its earnings forecast for the year. Tiffany's stock jumped $8.07, or 9.1 percent, to $96.30.

"Retail is very fickle right now, but some sectors are doing well, like luxury," said Dan Veru, chief investment officer at Palisade Capital Management.

Netflix shares rose $18.93, or 5.1 percent, to $390.60 after the company said it will expand into Germany, France and four other European countries later this year.

Online payments system provider Qiwi vaulted 20.7 percent after the company raised both its profit and revenue outlook for 2014 after a strong first quarter. The stock rose $7.21 to $42.12.

Not all stocks had such a good day.

PetSmart dropped $5.17, or 8.3 percent, to $57.02 after the pet store chain reported disappointing revenue for the first quarter and slashed its earnings outlook for the current quarter and year.

Trading volume was lighter than usual Wednesday, something that's likely to continue this week as the Memorial Day weekend nears.

Investors will get a fresh batch of data on housing and the economy on Thursday, as well as earnings from Hewlett-Packard, Best Buy and Sears, among others.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	10.02	points or ▲	0.06%	on	Thursday, 22 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,543.08	▲	10.02	▲	0.06%		
	Nasdaq____	4,154.34	▲	22.80	▲	0.55%		
	S&P_500___	1,892.49	▲	4.46	▲	0.24%		
	30_Yr_Bond____	3.43	▲	0.01	▲	0.32%		

NYSE Volume	 2,736,552,750 	 	 	 	 	  		 
Nasdaq Volume	 1,823,028,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,820.56	▼	-0.48	▼	-0.01%		
	DAX_____	9,720.91	▲	23.04	▲	0.24%		
	CAC_40__	4,478.21	▲	9.18	▲	0.21%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,458.10	▲	54.20	▲	1.00%		
	Shanghai_Comp	2,021.29	▼	-3.67	▼	-0.18%		
	Taiwan_Weight	8,969.63	▲	107.21	▲	1.21%		
	Nikkei_225___	14,337.79	▲	295.62	▲	2.11%		
	Hang_Seng.__	22,953.76	▲	117.24	▲	0.51%		
	Strait_Times.__	3,261.33	▼	-0.45	▼	-0.01%		
	NZX_50_Index_	5,128.84	▲	20.27	▲	0.40%		

http://finance.yahoo.com/news/economic-data-us-china-boost-210605110.html

*Economic data on US, China boost stocks

Stocks close higher amid encouraging US and China economic data, retailer earnings*
Associated Press
By Alex Veiga, AP Business Writer

Stocks got off to a good start Thursday and held onto their gains, carving out a modest increase for the second day in a row.

Amid a relatively slow week of trading, thin on major economic news and leading into the Memorial Day weekend, investors drew encouragement from a mixed bag of economic and housing data. Improving earnings from Dollar Tree, Best Buy and other retailers also helped lift the market.

Major indexes were already pointing to a slight uptick ahead of the start of regular trading after a survey from HSBC suggested the slowdown in China's economy is flattening. May's reading on China's manufacturing sector was the best in five months.

After the market opened, investors received more encouraging news. The Conference Board said its index of leading economic indicators posted a solid gain for the month. That provided more evidence that U.S. growth strengthened in April after a severe winter slowed businesses down.

"A revival in China is good for emerging markets, good for global growth and therefore good for stocks, and not so hot for bonds," noted Krishna Memani, chief investment officer at Oppenheimer Funds.

A U.S. government report showing a rise in the number of people seeking unemployment benefits last week didn't dampen the market's upward trend. Nor did the latest sales data for previously occupied U.S. homes, which were up modestly on a monthly basis in April, but down from a year ago, according to the National Association of Realtors.

The Standard & Poor's 500 index gained 4.46 points, or 0.2 percent, to close at 1,892.49. The index is up 2.4 percent for the year.

The Dow Jones industrial average rose 10.02 points, or 0.1 percent, to end at 16,543.08. The Nasdaq composite index added 22.80 points, or 0.6 percent, to finish at 4,154.34.

The Dow and Nasdaq remain down slightly for 2014.

Small-company stocks also extended their prior-day rally, pushing the Russell 2000 index up 10.24 points, or 0.9 percent, to 1,113.87.

Bond prices fell slightly. The yield on the 10-year Treasury note edged up to 2.55 percent from 2.54 percent late Wednesday.

Major indexes have finished slightly higher in four of the last five trading days. The gains have nudged the S&P 500 index, which hit a high early last week, up 0.8 percent for this week.

Among the biggest variables influencing the markets this year have been uncertainty over when U.S. growth will accelerate and concern that growth in China is slowing.

The latest batch of economic and earnings data suggest the global economy is recovering, albeit slowly.

"I do expect us to see a continued recovery, but it's not going to be dramatic and therefore I don't look for any big dramatic moves in the market either," said Chris Gaffney, a senior market strategist at EverBank Wealth Management.

Eight of the 10 industry sectors in the S&P 500 rose Thursday, led by utilities. Consumer staples and energy stocks lagged.

Several retailers had a good day.

Best Buy added 87 cents, or 3.4 percent, to $26.22 after its earnings came in well ahead of what investors were looking for, while L Brands, which owns store brands such as Bath and Body Works and Victoria's Secret, rose 83 cents, or 1.5 percent, to $56.69.

A pickup in spending by shoppers at Dollar Tree helped boost the discount store operator's income in its latest quarter. Its stock gained $3.31, or 6.6 percent, to $53.31, the biggest gain in the S&P 500 index.

Sears Holdings reported a wider quarterly loss as sales slumped. Its shares were down for much of the day, but recovered by late afternoon. Sears rose $1.54, or 4.2 percent, to $38.10.

The latest home sales figures helped lift most of the major U.S. homebuilders. Beazer Homes USA led the pack, rising 90 cents, or nearly 5 percent, to $19.08. The government reports how new U.S. home sales fared in April on Friday.

Among other stocks in the news:

”” China's No. 2 online retailer, JD.com, made its debut on the Nasdaq, beating Chinese rival Alibaba to American stock market. Its stock jumped $1.90, or 10 percent, to $20.90. The two other Chinese Internet firms didn't do as well. Online marketplace 58.com fell $3.44, or 8.2 percent, to $38.29, while Weibo sank $2.20, or 10.9 percent, to $18.05.

”” Lorillard fell the most in the S&P 500 index following reports that the tobacco seller could tie up with Reynolds American, creating the country's second-largest producer. The stock sank $3.12, or 5 percent, to $59.51.


----------



## bigdog

*NYSE will be closed for Memorial Day on Monday 	May 26*

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	63.19	points or ▲	0.38%	on	Friday, 23 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,606.27	▲	63.19	▲	0.38%		
	Nasdaq____	4,185.81	▲	31.47	▲	0.76%		
	S&P_500___	1,900.53	▲	8.04	▲	0.42%		
	30_Yr_Bond____	3.40	▼	-0.03	▼	-0.90%		

NYSE Volume	 2,404,881,000 	 	 	 	 	  		 
Nasdaq Volume	 1,530,725,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,815.75	▼	-4.81	▼	-0.07%		
	DAX_____	9,768.01	▲	47.10	▲	0.48%		
	CAC_40__	4,493.15	▲	14.94	▲	0.33%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,470.30	▲	12.20	▲	0.22%		
	Shanghai_Comp	2,034.57	▲	13.28	▲	0.66%		
	Taiwan_Weight	9,008.22	▲	38.59	▲	0.43%		
	Nikkei_225___	14,462.17	▲	124.38	▲	0.87%		
	Hang_Seng.__	22,965.86	▲	12.10	▲	0.05%		
	Strait_Times.__	3,278.02	▲	12.36	▲	0.38%		
	NZX_50_Index_	5,151.37	▲	22.53	▲	0.44%		

http://finance.yahoo.com/news/p-500-closes-above-1-204528373.html

*S&P 500 closes above 1,900 for first time

S&P 500 closes above 1,900 for the first time, another milestone in 5-year bull run for stocks*
Associated Press
By Alex Veiga and Steve Rothwell, AP Business Writers

Call it the Great Slog.

Stocks are bumbling along this year after a gangbuster 2013.

The upward grind is underscored by the Standard & Poor's 500 index, which closed above 1,900 for the first time on Friday and is up 2.8 percent for the year.

That gain compares with a 16 percent increase over the same period last year.

Other major indexes haven't fared any better. The Dow Jones industrial average and the Nasdaq composite are barely in positive territory for 2014.

The stock market's five-year bull run is pausing. Economic growth has fallen short of expectations, barely expanding in the first quarter after a strong finish to 2013. Investors are being more cautious while they wait for compelling evidence that growth will continue.

Karyn Cavanaugh, senior market strategist at Voya Investment Management, believes that there will be a "spring snapback," in the economy. Company earnings, already at record levels, will keep climbing and support stock prices. "There are a lot of good things going on in the market," she said.

The S&P 500 rose 8.04 points, or 0.4 percent, to close at 1,900.53. The index first rose above 1,900 during trading on May 13, but fell back to close below that level.

The Dow climbed 63.19 points, or 0.4 percent, to end at 1,606.27. The Nasdaq rose 31.47 points, or 0.8 percent, to 4,185.81.

Investors bid up homebuilder stocks following news that sales of new U.S. homes increased last month. Lennar rose $1.55, or 4 percent, to $40.54. D.R. Horton rose 92 cents, or 4.1 percent, to $23.57.

The Commerce Department reported that sales of U.S. new homes rose 6.4 percent in April after slumping in the previous two months.

"While it wasn't a stellar number, it was not weak and it helps assuage fears," that the housing recovery is weakening, said Quincy Krosby, a market strategist with Prudential Financial. "It really did help set the tone of the market."

3908


----------



## bigdog

Source: http://finance.yahoo.com 

*NYSE was closed for Memorial Day on Monday May 26 & Britain closed also*

 *The NYSE DOW closed  	HIGHER ▲	63.19	points or ▲	0.38%	on	Friday, 23 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,606.27	▲	63.19	▲	0.38%	CLOSED FOR HOLIDAY	
	Nasdaq____	4,185.81	▲	31.47	▲	0.76% CLOSED FOR HOLIDAY		
	S&P_500___	1,900.53	▲	8.04	▲	0.42% CLOSED FOR HOLIDAY		
	30_Yr_Bond____	3.40	▼	-0.03	▼	-0.90%	CLOSED FOR HOLIDAY	

NYSE Volume	 2,404,881,000 	 	 	 	 	  		 
Nasdaq Volume	 1,530,725,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,815.75	▼	-4.81	▼	-0.07%	CLOSED FOR HOLIDAY	
	DAX_____	9,892.82	▲	171.91	▲	1.77%		
	CAC_40__	4,526.93	▲	33.78	▲	0.75%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,490.40	▲	20.10	▲	0.37%		
	Shanghai_Comp	2,041.48	▲	6.91	▲	0.34%		
	Taiwan_Weight	9,036.12	▲	27.90	▲	0.31%		
	Nikkei_225___	14,602.52	▲	140.35	▲	0.97%		
	Hang_Seng.__	22,963.18	▼	-2.68	▼	-0.01%		
	Strait_Times.__	3,284.27	▲	6.25	▲	0.19%		
	NZX_50_Index_	5,153.68	▲	2.31	▲	0.04%		

http://finance.yahoo.com/news/world-stocks-mostly-higher-us-090837923.html

*World stocks mostly higher on US optimism

World stocks mostly higher on US economic optimism, hopes for Ukraine*
Associated Press
By Kelvin Chan, AP Business Writer 


HONG KONG (AP) -- World stocks mostly rose Monday on optimism about the U.S. economy, hints from China about further stimulus and hopes for greater stability in Ukraine after its elections.

Trading volumes were low, however, as U.S. and British markets were closed for holidays.

Investor sentiment was boosted after the Standard & Poor's 500 on Friday finished above the 1,900 level for the first time. The gains came after the Commerce Department on Friday reported that new home sales rose 6.4 percent in April after falling in the previous two months. Demand for new homes has been one of the last missing pieces as the U.S. economy, the world's largest, recovers from the global financial crisis.

Meanwhile, remarks by Chinese Premier Li Keqiang that suggested Beijing is preparing further mini-stimulus measures to support the economy gave a lift to Chinese shares.

Li said appropriate policy tools and timely fine tuning are being prepared as the world's second biggest economy continues to face "relatively big" downward pressure, the state-run China Daily newspaper said Saturday, citing a speech Li gave on Thursday.

"There seems to be a growing view among Western strategists that while Chinese authorities will keep monetary policy steady, they are starting to look at fairly targeted support for the economy," said Chris Weston, chief strategist at IG Markets in Melbourne.

In Europe, Germany's DAX rose 1.3 percent to close at 9,892.82 and France's CAC 40 gained 0.8 percent to 4,526.93.

Investors were cheered by the fact that the result of the national election in Ukraine was accepted by both western powers and Russia. The president-elect said he would engage in talks with Moscow and seek to ease the crisis, though new attacks were made on pro-Russian militants in the eastern part of the country.

Meanwhile, results from the European Parliament elections showed parties that are against the European Union and favor stronger national borders ”” on issues from immigration to business ”” made huge gains. Experts say that while their advance will not affect the European Parliament significantly, as the disparate parties will have trouble creating alliances, their strong showing could push some governments to reassess their policies.

Among the notable exceptions was Italy, where a strong vote for the ruling party was seen to strengthen its mandate to reform the economy. Italy's stock market jumped 3.6 percent.

Earlier, in Asia, Japan's Nikkei 225 benchmark rose 1 percent to close at 14,602.52 as the dollar strengthened against the yen, rising briefly above 102 yen in early trading before easing to 101.93. A weaker yen means the electronics, cars and other goods made by Japan's exporting giants such as Nikon, Sony and Honda are cheaper for overseas buyers.

The Shanghai Composite Index added 0.3 percent to close at 2,041.48 while Hong Kong's Hang Seng ended flat 22,963.18. South Korea's Kospi dipped 0.3 percent to 2,010.35 while Australia's S&P/ASX 200 gained 0.4 percent to 5,512.80.

The euro rose to $1.3653 from $1.3630.

In energy markets, oil prices rose. Benchmark crude for July delivery was up 44 cents to $104.18 in electronic trading on the New York Mercantile Exchange.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	69.23	points or ▲	0.42%	on	Tuesday, 27 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,675.50	▲	69.23	▲	0.42%		
	Nasdaq____	4,237.07	▲	51.26	▲	1.22%		
	S&P_500___	1,911.91	▲	11.38	▲	0.60%		
	30_Yr_Bond____	3.37	▼	-0.03	▼	-0.91%		

NYSE Volume	 2,884,555,000 	 	 	 	 	  		 
Nasdaq Volume	 1,796,384,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,844.94	▲	29.19	▲	0.43%		
	DAX_____	9,940.82	▲	48.00	▲	0.49%		
	CAC_40__	4,529.75	▲	2.82	▲	0.06%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,490.80	▲	0.40	▲	0.01%		
	Shanghai_Comp	2,034.57	▼	-6.91	▼	-0.34%		
	Taiwan_Weight	9,055.29	▲	19.17	▲	0.21%		
	Nikkei_225___	14,636.52	▲	34.00	▲	0.23%		
	Hang_Seng.__	22,944.30	▼	-18.88	▼	-0.08%		
	Strait_Times.__	3,274.06	▼	-8.82	▼	-0.27%		
	NZX_50_Index_	5,145.85	▼	-7.83	▼	-0.15%		

http://finance.yahoo.com/news/stocks-climb-fourth-straight-gain-200516634.html
*
Stocks climb; Fourth straight gain for S&P 500

US stocks close higher, giving S&P 500 index a fourth straight gain; Hillshire soars on offer*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- More promising signs that the economy is strengthening after its winter slowdown pushed stocks higher on Tuesday.

The Standard & Poor's 500 index rose for the fourth straight day and ended at another all-time high. It closed above 1,900 for the first time on Friday. Small-company stocks and other riskier parts of the market, like Internet and biotechnology companies, also gained after being beaten down over the past few months.

The government reported that orders to U.S. factories for long-lasting manufactured goods rose unexpectedly in April, powered by a surge in demand for military aircraft. Also, the Conference Board's consumer confidence index rose in May to the second-highest level since January 2008, just after the start of the Great Recession.

"Everyone's been continuing to look for signs about whether the economy is picking up some speed," said Kate Warne, an investment strategist at Edward Jones. The report on manufactured goods "is one more piece of evidence suggesting that it really was weather and not something else slowing growth in the winter time."

The Standard & Poor's 500 index rose 11.38 points, or 0.6 percent, to 1,911.91. The stock market was closed Monday for Memorial Day.

The Dow Jones industrial average gained 69.23 points, or 0.4 percent, to 16,675.50. The Nasdaq composite climbed 51.26 points, or 1.2 percent, to 4,237.07.

Stocks rose from the opening bell following the durable goods report. Nine of the ten sectors that make up the S&P 500 rose, led by financial and industrial companies.

Small-company stocks also made big gains, suggesting that investors were more comfortable making riskier investments. The Russell 2000 rose 1.3 percent, its biggest gain in two weeks.

Hillshire Brands, the maker of Jimmy Dean breakfast sausage and other products, was among the biggest gainers Tuesday. The stock jumped $8.17, or 22.1 percent, to $45.19 after poultry producer Pilgrim's Pride offered to acquire the company in a deal worth about $5.6 billion. Pilgrim's Pride said the deal is better than Hillshire's plan, announced earlier this month, to buy Pinnacle Foods for $4.23 billion. Pinnacle's stock fell $1.79, or 5.4 percent, to $31.48.

Despite the positive economic news, bond prices rose. Typically, bond prices fall and their yields rise when economic data improves as traders anticipate that interest rates will rise in the future.

The yield on the 10-year Treasury note fell to 2.51 percent from 2.53 percent on Friday. The yield on the note is trading close to its lowest in ten months. It started the year at 3 percent.

The recent surge in bonds is one of the reasons behind the uptick in stocks, said Jeff Knight, head of global asset allocation at Columbia Management, an asset management company. Although stocks are no longer cheap on an absolute level after the S&P 500 surged almost 30 percent last year, they still look good value compared to bonds.

"Stocks are still very attractive relative to bonds, and I think that's the key trade-off," said Knight.

While the stock market has made modest gains this year, bonds have surged, contrary to the expectations of many analysts, who had forecast that bond prices would drop as the economy strengthened.

Among other stocks making big moves:

”” Bank of America rose 50 cents, or 3.4 percent, to $15.22 after the lender said it's resubmitting a review of its operations to the Federal Reserve a month after discovering errors in its initial report. That forced the bank to suspend a dividend increase and a plan to buy back more of its own shares.

”” Staples fell 23 cents, or 2 percent, to $11.42 after Goldman Sachs cut its earnings outlook for the office supplies retailer. Analysts at the bank expect profit margins at Staples to fall due to its ongoing program of investment and diversification.


----------



## LinRegSlope

bigdog said:


> Source: http://finance.yahoo.com
> 
> *The NYSE DOW closed  	HIGHER ▲	69.23	points or ▲	0.42%	on	Tuesday, 27 May 2014	**
> Symbol …........Last …......Change....... *
> Dow_Jones	16,675.50	▲	69.23	▲	0.42%
> Nasdaq____	4,237.07	▲	51.26	▲	1.22%
> S&P_500___	1,911.91	▲	11.38	▲	0.60%
> 30_Yr_Bond____	3.37	▼	-0.03	▼	-0.91%
> 
> NYSE Volume	 2,884,555,000
> Nasdaq Volume	 1,796,384,250
> 
> *Europe	 	 	 	 	 		**
> Symbol... .....Last ….....Change....... *
> FTSE_100	6,844.94	▲	29.19	▲	0.43%
> DAX_____	9,940.82	▲	48.00	▲	0.49%
> CAC_40__	4,529.75	▲	2.82	▲	0.06%
> 
> *Asia Pacific							**
> Symbol...... ….......Last .....Change…...... *
> ASX_All_Ord___	5,490.80	▲	0.40	▲	0.01%
> Shanghai_Comp	2,034.57	▼	-6.91	▼	-0.34%
> Taiwan_Weight	9,055.29	▲	19.17	▲	0.21%
> Nikkei_225___	14,636.52	▲	34.00	▲	0.23%
> Hang_Seng.__	22,944.30	▼	-18.88	▼	-0.08%
> Strait_Times.__	3,274.06	▼	-8.82	▼	-0.27%
> NZX_50_Index_	5,145.85	▼	-7.83	▼	-0.15%
> 
> http://finance.yahoo.com/news/stocks-climb-fourth-straight-gain-200516634.html
> *
> Stocks climb; Fourth straight gain for S&P 500
> 
> US stocks close higher, giving S&P 500 index a fourth straight gain; Hillshire soars on offer*
> Associated Press
> By Steve Rothwell, AP Markets Writer
> 
> NEW YORK (AP) -- More promising signs that the economy is strengthening after its winter slowdown pushed stocks higher on Tuesday.
> 
> The Standard & Poor's 500 index rose for the fourth straight day and ended at another all-time high. It closed above 1,900 for the first time on Friday. Small-company stocks and other riskier parts of the market, like Internet and biotechnology companies, also gained after being beaten down over the past few months.
> 
> The government reported that orders to U.S. factories for long-lasting manufactured goods rose unexpectedly in April, powered by a surge in demand for military aircraft. Also, the Conference Board's consumer confidence index rose in May to the second-highest level since January 2008, just after the start of the Great Recession.
> 
> "Everyone's been continuing to look for signs about whether the economy is picking up some speed," said Kate Warne, an investment strategist at Edward Jones. The report on manufactured goods "is one more piece of evidence suggesting that it really was weather and not something else slowing growth in the winter time."
> 
> The Standard & Poor's 500 index rose 11.38 points, or 0.6 percent, to 1,911.91. The stock market was closed Monday for Memorial Day.
> 
> The Dow Jones industrial average gained 69.23 points, or 0.4 percent, to 16,675.50. The Nasdaq composite climbed 51.26 points, or 1.2 percent, to 4,237.07.
> 
> Stocks rose from the opening bell following the durable goods report. Nine of the ten sectors that make up the S&P 500 rose, led by financial and industrial companies.
> 
> Small-company stocks also made big gains, suggesting that investors were more comfortable making riskier investments. The Russell 2000 rose 1.3 percent, its biggest gain in two weeks.
> 
> Hillshire Brands, the maker of Jimmy Dean breakfast sausage and other products, was among the biggest gainers Tuesday. The stock jumped $8.17, or 22.1 percent, to $45.19 after poultry producer Pilgrim's Pride offered to acquire the company in a deal worth about $5.6 billion. Pilgrim's Pride said the deal is better than Hillshire's plan, announced earlier this month, to buy Pinnacle Foods for $4.23 billion. Pinnacle's stock fell $1.79, or 5.4 percent, to $31.48.
> 
> Despite the positive economic news, bond prices rose. Typically, bond prices fall and their yields rise when economic data improves as traders anticipate that interest rates will rise in the future.
> 
> The yield on the 10-year Treasury note fell to 2.51 percent from 2.53 percent on Friday. The yield on the note is trading close to its lowest in ten months. It started the year at 3 percent.
> 
> The recent surge in bonds is one of the reasons behind the uptick in stocks, said Jeff Knight, head of global asset allocation at Columbia Management, an asset management company. Although stocks are no longer cheap on an absolute level after the S&P 500 surged almost 30 percent last year, they still look good value compared to bonds.
> 
> "Stocks are still very attractive relative to bonds, and I think that's the key trade-off," said Knight.
> 
> While the stock market has made modest gains this year, bonds have surged, contrary to the expectations of many analysts, who had forecast that bond prices would drop as the economy strengthened.
> 
> Among other stocks making big moves:
> 
> ”” Bank of America rose 50 cents, or 3.4 percent, to $15.22 after the lender said it's resubmitting a review of its operations to the Federal Reserve a month after discovering errors in its initial report. That forced the bank to suspend a dividend increase and a plan to buy back more of its own shares.
> 
> ”” Staples fell 23 cents, or 2 percent, to $11.42 after Goldman Sachs cut its earnings outlook for the office supplies retailer. Analysts at the bank expect profit margins at Staples to fall due to its ongoing program of investment and diversification.




Keep it up Bigdog, appreciate the postings.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-42.32	points or ▼	-0.25%	on	Wednesday, 28 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,633.18	▼	-42.32	▼	-0.25%		
	Nasdaq____	4,225.07	▼	-11.99	▼	-0.28%		
	S&P_500___	1,909.78	▼	-2.13	▼	-0.11%		
	30_Yr_Bond____	3.29	▼	-0.08	▼	-2.35%		

NYSE Volume	 2,945,260,000 	 	 	 	 	  		 
Nasdaq Volume	 1,771,242,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,851.22	▲	6.28	▲	0.09%		
	DAX_____	9,939.17	▼	-1.65	▼	-0.02%		
	CAC_40__	4,531.63	▲	1.88	▲	0.04%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,506.70	▲	15.90	▲	0.29%		
	Shanghai_Comp	2,050.23	▲	15.66	▲	0.77%		
	Taiwan_Weight	9,121.71	▲	66.42	▲	0.73%		
	Nikkei_225___	14,670.95	▲	34.43	▲	0.24%		
	Hang_Seng.__	23,080.03	▲	135.73	▲	0.59%		
	Strait_Times.__	3,274.21	▲	0.15	▲	0.00%		
	NZX_50_Index_	5,181.46	▲	35.61	▲	0.69%		

http://finance.yahoo.com/news/p-500-index-holds-close-210901696.html

*S&P 500 index holds close to record level

Standard & Poor's 500 holds close to record; Bond market rally continues, sending yields lower*

Associated Press
By Steve Rothwell, AP Markets Writer 

NEW YORK (AP) -- Stocks edged lower for the first time in five days Wednesday, but the real action was in the bond market.

The yield on the 10-year Treasury note fell to its lowest in 11 months as investors continued to put money into the bond market, extending a rally that has taken many investors and analysts by surprise. Most market participants had expected yields to climb this year, and bond prices to fall, as the Federal Reserve reduced its purchases of bonds and the economy improved.

Instead, the opposite has happened. While stocks have ground out modest gains this year, pushing major indexes to record levels, bond prices have surged. Even evidence that the economy is strengthening after a winter lull has failed to slow the rally.

"The bond market has been incredibly resilient," said Russ Koesterich. "Even as stocks have pushed to new highs, and you've had generally positive economic data, bonds have remained well bid."

The S&P 500 fell 2.13 points, or 0.1 percent, to 1,909.78. The index closed at a record 1,911.11 the day before.

The Dow Jones industrial average dropped 42.32 points, or 0.3 percent, to 16,633.18. The Nasdaq composite fell 11.99 points, or 0.3 percent, to 4,225.07.

As bonds rallied, investors bid up the prices of safe and steady stocks like utilities and phone companies that pay rich dividends, giving a lift to major stock indexes. Utility and phone company stocks were the best performers in the S&P 500. The utility sector is the year's best performer of the 10 sectors that make up the S&P 500, gaining 10.7 percent since the start of 2014.

In other stock trading, Dollar General led consumer discretionary stocks lower after analysts at Deutsche Bank cut their forecast for the company's earnings, saying that it faces tough pricing competition from rival retailers, including Walmart and Target. The retailer's stock dropped $1.70, or 3 percent, to $54.60.

The stock market has edged up to record levels against a backdrop of reports that have shown the U.S. economy is gradually strengthening after a winter slump. The S&P 500 closed above 1,900 for the first time on Friday.

But despite the encouraging economic backdrop, bonds have continued to rally.

On Wednesday, the yield on the 10-year Treasury note fell to 2.44 percent from 2.52 percent late Tuesday. The yield, which started the year at 3 percent, is the lowest it's been in 11 months.

Speculation that the European Central Bank will take further steps to stimulate the region's economy have boosted the appeal of U.S. Treasury notes compared to bonds issued by the European governments. The yield on the 10-year German government bond is 1.34 percent, and French bonds with a similar maturity yield 1.72 percent.

"In terms of safety and yield, the U.S. still is the prettiest girl at the dance," said JJ Kinahan, chief strategist at TD Ameritrade.

Some analysts also say that the Chinese government is buying the U.S. government debt as a way of weakening its currency to help make its own exports cheaper.

Among other stocks making big moves on Wednesday;

”” Toll Brothers rose after the homebuilder reported that its second-quarter income more than doubled as the company raised its prices and delivered more houses. The results beat Wall Street's expectations and sent the stock up 74 cents, or 2.1 percent, to $36.38.

”” Botox maker Allergan fell after Valeant Pharmaceuticals added more cash to its offer to buy the company in a deal that could now be worth more than $50 billion. The Canadian drugmaker is now offering $58.30, $10 more than its previous offer, and a portion of its own stock for each Allergan share. Allergan fell $8.90, or 5.4 percent, to $156.12. Analysts and investors had been expecting a bigger bid.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	65.56	points or ▲	0.39%	on	Thursday, 29 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,698.74	▲	65.56	▲	0.39%		
	Nasdaq____	4,247.95	▲	22.87	▲	0.54%		
	S&P_500___	1,920.03	▲	10.25	▲	0.54%		
	30_Yr_Bond____	3.30	▲	0.02	▲	0.49%		

NYSE Volume	 2,692,975,750 	 	 	 	 	  		 
Nasdaq Volume	 1,701,644,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,871.29	▲	20.07	▲	0.29%		
	DAX_____	9,938.90	▼	-0.27	▲	0.00%		
	CAC_40__	4,530.51	▼	-1.12	▼	-0.02%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,499.20	▼	-7.50	▼	-0.14%		
	Shanghai_Comp	2,040.60	▼	-9.63	▼	-0.47%		
	Taiwan_Weight	9,109.00	▼	-12.71	▼	-0.14%		
	Nikkei_225___	14,681.72	▲	10.77	▲	0.07%		
	Hang_Seng.__	23,010.14	▼	-69.89	▼	-0.30%		
	Strait_Times.__	3,300.71	▲	28.87	▲	0.88%		
	NZX_50_Index_	5,183.16	▲	1.70	▲	0.03%		

http://gazette.com/stocks-back-in-r...aims-news/article/1520709#76AbJDcdB2E3O7Ed.99

*Stocks back in record territory on jobless claims news*

by Ken Sweet AP Markets Writer

NEW YORK - Another quiet day, another quiet record.

Stocks rose modestly Thursday, sending the Standard & Poor's 500 index to another record high. Investors rallied behind a bidding war in the food industry as well as a somewhat positive report on the U.S. labor market.

The S&P 500 rose 10.25 points, or 0.5 percent, to 1,920.03, closing above Tuesday's record of 1,911.11. The Dow Jones industrial average rose 65.56 points, or 0.4 percent, to 16,698.74 and the Nasdaq composite rose 22.87 points, or 0.5 percent, to 4,247.95.

Among the biggest gainers was deli meat and hotdog maker Hillshire Brands, which jumped $7.95, or 18 percent, to $52.76. Only two days after Pilgrim's Pride made a $5.56 billion offer to buy the company, chicken company Tyson Foods stepped in to offer $6.2 billion.

Investors expect that Tyson's offer will start a bidding war. Hillshire's closing price of $52.76 was already above Tyson's offer of $50 per share. The stock is up 43 percent this week alone.

Tyson also rose on the news. The stock gained $2.50, or 6 percent, to $43.25, making the company the biggest gainer in the S&P 500.

The overall stock market has moved little this year, but one theme that continues to play out is the large amount of corporate deals being announced. Just during this holiday-shortened week, Apple said late Wednesday it would buy Beats Electronics for $3 billion, and now there's the battle over Hillshire Brands.

"It's an encouraging sign because companies see the economy improving," said Joe Tanious, a global markets strategist with J.P. Morgan Asset Management. "Last thing you want to do as a large company is use your cash to buy a company when you have an uncertain outlook on the economy."

Other food companies also rose following the Hillshire Brands news as traders anticipated more deals and possibly more bidding wars. Jam and jelly maker J.M. Smucker rose $2.38, or 2.4 percent, to $103. Hormel Foods, which makes Spam, rose $1, or 2 percent, to $48.71.

Investors also had a round of mixed economic data to interpret Thursday.

The Commerce Department estimated that the U.S. economy shrank at an annual rate of 1 percent in the first three months of the year, worse than the government's initial estimate a month ago of growth of 0.1 percent. The contraction was partly due to the severe weather in January and February, economists said.

While disappointing, investors set aside the GDP report, dismissing it as outdated information on the U.S. economy. The report relayed information from, at best, two months ago and, at worst, from the beginning of the year. Investors have been talking about how the weather impacted U.S. businesses earlier this year for months now.

"It didn't tell us anything new," said Ryan Larson, head of equity trading at RBC Global Asset Management.

In a more "real-time" reading on the U.S. economy, the government also said the number of Americans applying for unemployment benefits dropped last week to 300,000, according to the Labor Department. The less-volatile four-week average fell to 311,500, the lowest since August 2007, right before the last recession.

Bond prices pulled back slightly, pushing the 10-year U.S. Treasury note to a yield of 2.46 percent from 2.44 percent the day before.

Yields have been trading at lows not seen in a year, as foreign buyers have jumped into U.S. Treasurys. Most investors believe this recent downward movement in bond yields is temporary. The Federal Reserve, the biggest buyer of Treasurys for the last few years, is slowly exiting the market and the economy is improving.

"The 10-year Treasury has everyone scratching their heads," Tanious said.

The stock market continues to hit highs, but volume remains light after the Memorial Day holiday. Roughly 2.69 billion shares changed hands on the New York Stock Exchange, well below its 50-day average of 3.29 billion shares.

Traders expect business to be slow until next week, when investors get the May jobs report and the European Central Bank will announce is latest interest rate decision.

"We may be moving higher, but the market is really in wait-and-see mode," Larson said.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	18.43	points or ▲	0.11%	on	Friday, 30 May 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,717.17	▲	18.43	▲	0.11%		
	Nasdaq____	4,242.62	▼	-5.33	▼	-0.13%		
	S&P_500___	1,923.57	▲	3.54	▲	0.18%		
	30_Yr_Bond____	3.31	▲	0.01	▲	0.30%		

NYSE Volume	 3,192,302,000 	 	 	 	 	  		 
Nasdaq Volume	 1,896,215,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,844.51	▼	-26.78	▼	-0.39%		
	DAX_____	9,943.27	▲	4.37	▲	0.04%		
	CAC_40__	4,519.57	▼	-10.94	▼	-0.24%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,473.80	▼	-25.40	▼	-0.46%		
	Shanghai_Comp	2,039.21	▼	-1.38	▼	-0.07%		
	Taiwan_Weight	9,075.91	▼	-33.09	▼	-0.36%		
	Nikkei_225___	14,632.38	▼	-49.34	▼	-0.34%		
	Hang_Seng.__	23,081.65	▲	71.51	▲	0.31%		
	Strait_Times.__	3,295.85	▼	-4.86	▼	-0.15%		
	NZX_50_Index_	5,178.44	▼	-4.73	▼	-0.09%		

http://finance.yahoo.com/news/dow-p-close-may-record-204910526.html

*Dow, S&P close out May at record highs

Stocks rise despite negative consumer sentiment, confidence data; S&P, Dow at record highs*

Associated Press
By Ken Sweet, AP Markets Writer

NEW YORK (AP) -- The stock market closed out May mostly higher Friday, sending two out of the three major U.S. indexes to record highs.

Trading was uneven, and indexes moved between small gains and losses for most of the day. A late push higher left the Dow Jones industrial average and Standard & Poor's 500 at all-time highs, but just barely.

May was the best month for investors since February. The S&P rose 2.1 percent for the month, while the Dow rose 0.8 percent and the Nasdaq rose 3.1 percent.

"This market may have been choppy earlier in the year, but the trend is higher," said Karyn Cavanaugh, a market strategist with Voya Investment Management, formerly known as ING Investment Management.

The Dow rose 18.43 points, or 0.1 percent, to close at 16,717.17, less than two points above its previous record high set on May 13.

The S&P 500 index rose 3.54 points, or 0.2 percent, to 1,923.57, also closing at a record. The only index to fall was the Nasdaq composite, which ended down 5.33 points, or 0.1 percent, to 4,242.62.

On Friday, investors had two somewhat disappointing reports on the U.S. consumer.

The Commerce Department said consumer spending unexpectedly fell 0.1 percent in April, the first drop in that indicator in a year. Economists expect the drop to be temporary, however. Consumer spending jumped 1 percent in March.

"It is obvious that after an unseasonably colder January and February, consumers came out with a vengeance in March," Chris Christopher, an economist at IHS Global Insight, wrote in a note to clients. "So, April's poor showing on the spending front is payback for a strong March."

In a separate report, the University of Michigan's consumer sentiment index fell more than analysts were expecting. The index slipped to 81.9 in May from 84.9 in April. Economists had expected 82.8.

Key economic data comes out next week, including the May jobs report on Friday. Economists expect the U.S. economy created 220,000 jobs in May, and the unemployment rate fell to 6.3 percent, according to FactSet, a financial information provider. The European Central Bank will also have its interest rate policy meeting that day.

Among stocks, Lions Gate Entertainment was one of the biggest decliners Friday. The movie studio slid $3.40, or 12 percent, to $26.13 after reporting a profit of 35 cents per share, a 70 percent drop from the year before and well below what analysts had expected. Lions Gate's movies include the "The Hunger Games" series.

Sunglasses retailer Pacific Sunwear dropped 52 cents, or 18 percent, to $2.42. The company warned investors that it would report a two-cent loss this quarter, not the two-cent profit that analysts had expected.

The yield on the 10-year Treasury note was little changed at 2.47 percent. Bond yields are the near their lows for the year thanks to strong demand from foreign and U.S. buyers.

"If we were in a normal bond market, these yields would signal weakness in the U.S. economy," said Randy Frederick, managing director of trading and derivatives at Charles Schwab. "But I think what's going on is more of a temporary phenomenon."

Roughly 3.2 billion shares traded hands on Friday on the New York Stock Exchange, slightly below the 50-day average. Volume has been relatively light this week, which was shortened by the Memorial Day holiday in the U.S. on Monday.

4508


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	26.46	points or ▲	0.16%	on	Monday, 2 June 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,743.63	▲	26.46	▲	0.16%		
	Nasdaq____	4,237.20	▼	-5.42	▼	-0.13%		
	S&P_500___	1,924.97	▲	1.40	▲	0.07%		
	30_Yr_Bond____	3.38	▲	0.06	▲	1.90%		

NYSE Volume	 2,493,619,000 	 	 	 	 	  		 
Nasdaq Volume	 1,623,006,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,864.10	▲	19.59	▲	0.29%		
	DAX_____	9,950.12	▲	6.85	▲	0.07%		
	CAC_40__	4,515.89	▼	-3.68	▼	-0.08%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,499.20	▲	25.40	▲	0.46%		
	Shanghai_Comp	2,039.21	▼	-1.38	▼	-0.07%		
	Taiwan_Weight	9,075.91	▼	-33.09	▼	-0.36%		
	Nikkei_225___	14,935.92	▲	303.54	▲	2.07%		
	Hang_Seng.__	23,081.65	▲	71.51	▲	0.31%		
	Strait_Times.__	3,302.24	▲	6.39	▲	0.19%		
	NZX_50_Index_	5,178.44	▼	-4.73	▼	-0.09%		

http://finance.yahoo.com/news/stocks-rise-following-revised-manufacturing-203743464.html

*Stocks rise following revised manufacturing report

Stocks advance slightly after US manufacturing report is revised higher; Broadcom jumps*
Associated Press
By Ken Sweet, AP Markets Writer 

NEW YORK (AP) -- Stocks closed mostly higher on a quiet Monday following two reports that showed the manufacturing industries of the world's two largest economies expanded last month.

Both the Dow Jones industrial average and the Standard & Poor's 500 index were able to set record highs for a second trading day in a row.

The Dow rose 26.46 points, or 0.2 percent, to 16,743.63. The S&P 500 rose 1.40 points, or 0.1 percent, to 1,924.97 and the Nasdaq composite fell 5.42 points, or 0.1 percent, to 4,237.20.

The Institute for Supply management said U.S. manufacturing grew at a brisk pace last month, correcting its earlier statement that growth had slowed. The ISM said the correct number for its manufacturing index was 55.4 in May, in line with what economists were expecting. That's a better result than the 53.2 figure that ISM initially reported.

The ISM manufacturing report is one of two closely watched reports each month, second only to the government's monthly survey of the job market. To see major revisions to such a report the day it's released was highly unusual, traders said, especially for a report that is so relied on each month.

"It's a debacle, as far as ISM is concerned," said Tom di Galoma, head of fixed income rates at ED&F Man Capital. "It's hurt their credibility and it's going to take a while for that to recover."

Investors also got some positive manufacturing news out of Asia. A Chinese manufacturing index edged up to 50.8 in May from 50.4 in April.

Asian stocks rose on the report. Japan's Nikkei rose 2.1 percent Monday.

Trading is expected to be quiet until later this week. Investors will get the May jobs report Friday, and the European Central Bank will announce its latest interest rate policy decision Thursday.

Economists expect that companies hired 220,000 workers last month, and that the unemployment rate remained steady at 6.3 percent, according to FactSet.

Other than the manufacturing reports, traders had little news to work with on Monday.

The real-estate investment trust Ventas said it would buy American Realty Capital Healthcare Trust in a $2.6 billion cash-and-stock deal. The companies each own medical care offices along with other properties. A.R.C.'s stock rose 96 cents, or 10 percent, to $10.91 while Ventas fell $1.87, or 3 percent, to $64.93.

Semiconductor maker Broadcom was the biggest advancer in the S&P 500, jumping $2.97, or 9 percent, to $34.84. The company said it is exploring options for its cellular chip business, which could include selling the division or shutting it down.

The yield on the 10-year Treasury note rose to 2.53 percent from 2.48 percent on Friday. Even with the modest increase, bond yields are still trading near their lows for the year. Bond investors expect yields to remain at these levels for the foreseeable future.

"You're still looking at a global economic picture that needs a lot more growth," said Robert Tipp, chief investment strategist for Prudential Fixed Income.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-21.29	points or ▼	-0.13%	on	Tuesday, 3 June 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,722.34	▼	-21.29	▼	-0.13%		
	Nasdaq____	4,234.08	▼	-3.12	▼	-0.07%		
	S&P_500___	1,924.24	▼	-0.73	▼	-0.04%		
	30_Yr_Bond____	3.43	▲	0.06	▲	1.72%		

NYSE Volume	 2,838,457,250 	 	 	 	 	  		 
Nasdaq Volume	 1,704,054,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,836.30	▼	-27.80	▼	-0.41%		
	DAX_____	9,919.74	▼	-30.38	▼	-0.31%		
	CAC_40__	4,503.69	▼	-12.20	▼	-0.27%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,460.50	▼	-38.70	▼	-0.70%		
	Shanghai_Comp	2,038.31	▼	-0.91	▼	-0.04%		
	Taiwan_Weight	9,123.46	▲	47.55	▲	0.52%		
	Nikkei_225___	15,034.25	▲	98.33	▲	0.66%		
	Hang_Seng.__	23,291.04	▲	209.39	▲	0.91%		
	Strait_Times.__	3,296.67	▼	-5.57	▼	-0.17%		
	NZX_50_Index_	5,164.12	▼	-14.32	▼	-0.28%		

http://finance.yahoo.com/news/stocks-edge-lower-hillshire-bidding-204829460.html

*Stocks edge lower; Hillshire bidding war heats up

Stocks slip a day after S&P 500 closes at record high; Hillshire soars on takeover fight*

Associated Press
By Ken Sweet, AP Markets Writer

NEW YORK (AP) -- The stock market fell slightly Tuesday, pulling back from record highs the day before.

Hillshire Brands jumped as a bidding war for the company heated up, while Krispy Kreme Doughnuts plunged after issuing a disappointing forecast.

The Dow Jones industrial average dropped 21.29 points, or 0.1 percent, to 16,722.34. The Standard & Poor's 500 index fell 0.73 points, or 0.04 percent, to 1,924.24 and the Nasdaq composite fell 3.12 points, or 0.1 percent, to 4,234.08.

Even with Tuesday's decline, the direction for the stock market the last two weeks has been up. The S&P 500 and Dow have fallen just three times in the last 12 sessions.

Deli meat and hotdog maker Hillshire Brands rose $5.08, or 9.5 percent, to $58.65.

Two companies ”” Pilgrim's Pride and Tyson Foods ”” are in a bidding war to buy Hillshire. The company said it will hold separate talks with the companies after Pilgrim's Pride raised its bid for Hillshire to $55 a share, $5 more than what Tyson Foods offered last week.

Hillshire's closing stock price of more than $58 is a sign that investors believe Pilgrim's Pride and Tyson are willing to offer much more for Hillshire.

Meanwhile, the stock of the suitors fell. Tyson slipped $1.32, or 3 percent, to $42.08 and Pilgrim's Pride declined 58 cents, or 2.2 percent, 25.34.

It's been a quiet week so far, with summer setting in and trading slowing down. Investors had one piece of economic data to interpret Tuesday.

Orders to U.S. factories rose for a third consecutive month in April, the latest evidence that manufacturing was regaining momentum after a harsh winter. Factory orders rose 0.7 percent in April, better than the 0.5 percent rise that economists expected.

The factory orders data was the third manufacturing report in two days. On Monday, reports on U.S. and Chinese manufacturing activity came in above expectations. That helped send both the Dow and S&P 500 to record highs for the second straight trading day. The S&P 500 closed at an all-time high of 1,924.97 that day, while the Dow ended at 16,743.63.

"The economic data here continues to get incrementally better," said Quincy Krosby, a market strategist for Prudential Financial. "But Friday's jobs report is the big number this week.

On that day, investors will get the May U.S. jobs report. Economists expect that companies hired 220,000 workers last month, and that the unemployment rate remained steady at 6.3 percent, according to FactSet.

On Thursday, European Central Bank will announce its latest interest rate policy decision.

In the market for U.S. government bonds, the yield on the 10-year Treasury rose to 2.60 percent from 2.53 percent late Monday.

In company news:

”” Krispy Kreme slumped after the doughnut chain cut its earnings forecast for this year, citing higher costs and fewer sales than previously estimated. The company's stock fell $2.81, or 15 percent, to $16.19.

”” General Motors and Ford rose modestly Tuesday, after each reported a rise in sales of cars and trucks last month. GM had a 13-percent sales increase from a year earlier, despite the bad publicity over the company's ignition switch recall.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	15.19	points or ▲	0.09%	on	Wednesday, 4 June 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,737.53	▲	15.19	▲	0.09%		
	Nasdaq____	4,251.64	▲	17.56	▲	0.41%		
	S&P_500___	1,927.88	▲	3.64	▲	0.19%		
	30_Yr_Bond____	3.44	▲	0.01	▲	0.26%		

NYSE Volume	 2,778,419,500 	 	 	 	 	  		 
Nasdaq Volume	 1,597,718,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,818.63	▼	-17.67	▼	-0.26%		
	DAX_____	9,926.67	▲	6.93	▲	0.07%		
	CAC_40__	4,501.00	▼	-2.69	▼	-0.06%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,426.80	▼	-33.70	▼	-0.62%		
	Shanghai_Comp	2,024.83	▼	-13.47	▼	-0.66%		
	Taiwan_Weight	9,119.96	▼	-3.50	▼	-0.04%		
	Nikkei_225___	15,067.96	▲	33.71	▲	0.22%		
	Hang_Seng.__	23,151.71	▼	-139.33	▼	-0.60%		
	Strait_Times.__	3,280.17	▼	-16.50	▼	-0.50%		
	NZX_50_Index_	5,159.35	▼	-4.77	▼	-0.09%		

http://finance.yahoo.com/news/us-stocks-edge-higher-protective-172117445.html
*
US stocks edge higher; Protective Life soars

US stocks edge higher, erasing an early loss; Standard & Poor's 500 index back at record high*
Associated Press
By Ken Sweet, AP Markets Writer 

NEW YORK (AP) -- Stocks rose modestly Wednesday, erasing an early decline, as investors waited to hear from the European Central Bank on Thursday.

Insurer Protective Life soared on news that it was being acquired by a Japanese company.

The Dow Jones industrial average rose 15.19 points, or 0.1 percent, to 16,737.53. The Standard & Poor's 500 index added 3.64, or 0.2 percent, to 1,927.88 and the Nasdaq composite rose 17.56 points, or 0.4 percent, to 4,251.64.

The S&P 500 closed at another record high, while the Dow closed less than 10 points from its previous high. Both indexes closed at record highs on Monday.

The Nasdaq got a boost from Apple, its biggest component, which gained $7.28, or 1.1 percent, to $644.82. Apple's seven-for-one stock split will happen after the close of business Friday. At the current price, Apple's new shares would be worth $92.12 after the split takes effect on Monday.

Once again trading was quiet, with roughly 2.8 billion shares changing hands on the New York Stock Exchange, compared with the recent average of 3.3 billion shares. Volume has been under 3 billion shares every day this week.

This week's main events come Thursday and Friday.

Policymakers from Europe's central bank will meet Thursday to decide whether or not to lower the eurozone's key interest rate to below zero in an effort to further stimulate Europe's economy.

The unusual move would mean banks would have to pay to park money with the European Central Bank. The goal is to push banks to lend the money to companies and individual borrowers.

While the eurozone pulled out of an 18-month recession last year, growth remains sluggish and inflation is low. Eurozone inflation was 0.7 percent in May, well below ECB's target of 2 percent.

"Europe is barely growing, inflation is low, and it cries out for more stimulus," said Bob Doll, chief equity strategist at Nuveen Investments. "The question is: Will the ECB do enough to satisfy investors?"

Speculation over the ECB's interest rate decision has sent foreign buyers into the U.S. bond market in recent weeks. The yield on the 10-year Treasury note was little changed at 2.60 percent. It went as low as 2.44 percent last week, the lowest level in almost a year.

Investors also waiting for the monthly jobs report from the U.S. Labor Department, out Friday.

Economists believe U.S. employers added 220,000 jobs in May and the unemployment rate remained steady at 6.3 percent.

Payroll processor ADP said Wednesday that U.S. businesses slowed their hiring last month, adding just 179,000 workers to their payrolls. It was the weakest hiring in four months and well below what economists had expected.

"Just when investors were getting comfortable with the positive data trend, the U.S. economy hands them a monkey wrench," said Doug Cote, chief market strategist for Voya Investment Management, in a note to investors.

In company news:

”” Protective Life jumped $10.64, or 18 percent, to $69.36 after Japanese insurance company Dai-ichi Life said it would buy the company for $70 a share, or $5.7 billion.

”” First Solar rose $2.46 or 4 percent, to $65.39 after the company announced it was buying German electric power operator Skytron Energy for an undisclosed amount.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	98.58	points or ▲	0.59%	on	Thursday, 5 June 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,836.11	▲	98.58	▲	0.59%		
	Nasdaq____	4,296.23	▲	44.58	▲	1.05%		
	S&P_500___	1,940.46	▲	12.58	▲	0.65%		
	30_Yr_Bond____	3.43	▼	-0.01	▼	-0.35%		

NYSE Volume	 3,082,639,250 	 	 	 	 	  		 
Nasdaq Volume	 1,905,878,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,813.49	▼	-5.14	▼	-0.08%		
	DAX_____	9,947.83	▲	21.16	▲	0.21%		
	CAC_40__	4,548.73	▲	47.73	▲	1.06%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,419.70	▼	-7.10	▼	-0.13%		
	Shanghai_Comp	2,040.88	▲	16.04	▲	0.79%		
	Taiwan_Weight	9,140.72	▲	20.76	▲	0.23%		
	Nikkei_225___	15,079.37	▲	11.41	▲	0.08%		
	Hang_Seng.__	23,109.66	▼	-42.05	▼	-0.18%		
	Strait_Times.__	3,279.89	▼	-0.28	▼	-0.01%		
	NZX_50_Index_	5,159.49	▲	0.14	▲	0.00%		

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Stocks head higher after ECB takes  new steps

Stocks head higher after European Central Bank moves to support Europe's flagging economy*
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- New steps from the European Central Bank to revive the region's flagging economy gave markets a lift Thursday, pushing the Standard & Poor's 500 index to another record high.

In the U.S. market, the gains were broad but modest. All 10 industries in the S&P 500 crept higher, led by industrial companies and banks.

The ECB cut two key interest rates, pushing one of them below zero. The unusual move means that the ECB will charge banks to hold their money, instead of paying them interest. The goal is to arm-twist banks into lending money rather than stockpiling it.

Mario Draghi, the ECB's president, said the bank was willing to take more steps to support the region's economy if needed, including buying bonds.

"It's a big step by Draghi," said Jason Pride, director of investment strategy at Glenmede Trust. "I would say it's a big thing even though the markets may have expected it."

The Standard & Poor's 500 index rose 12.58 points, or 0.7 percent, to close at 1,940.46.

The Dow Jones industrial average rose 98.58 points, or 0.6 percent, to 16,836.11. The Nasdaq composite gained 44.58 points, or 1.1 percent, to 4,296.23. Both the S&P 500 and the Dow average are at record-high levels.

Germany's main stock index, the DAX, touched a record high before pulling back and ending the day with a gain of 0.2 percent. France's CAC 40 surged 1.1 percent.

"The world looks to be a safer place today," said Chris Rupkey, chief financial economist at the Bank of Tokyo-Mitsubishi in New York, in a note to clients. "If you lend money out, the ECB has money for you."

The U.S. and Europe are tightly connected through financial markets, the banking system and trade. Added together, the countries in the European Union make up the world's second-largest economy and buy roughly a fifth of all U.S. exports. Coca-Cola and other large corporations have blamed Europe's weak economy for hurting sales.

The ECB's move to support the region's economy came as welcome news, said Hank Smith, chief investment officer at Haverford Trust. But it wasn't a big surprise. In recent weeks, research teams at big banks and strategists on Wall Street have issued scores of reports predicting just such a move.

"It was on everyone's radar screen," Smith said.

Before the market opened, the Labor Department said the number of Americans applying for unemployment benefits crept up last week to 312,000. The news heightened speculation that the government's monthly jobs report, due out Friday, could reveal a modest slowdown in hiring in May. It also followed a report from payroll processer ADP on Wednesday that showed private employers pulling back on hiring last month.

Economists estimate that U.S. employers added 220,000 jobs in May and that the unemployment rate inched up to 6.4 percent from 6.3 percent as more people hunt for work.

Among other companies making moves, PVH, the company behind the Calvin Klein and Tommy Hilfiger brands, cut its profit forecast late Wednesday, blaming the global economy and a rough winter in the U.S. for weaker sales. The retailer put more clothes on sale, which pinched profit margins. PVH's stock sank $10.59, or 8 percent, to $120.09.

Joy Global, a maker of mining equipment, reported a big drop in quarterly profits and sales as coal miners scaled back operations. Joy Global's results were still better than analysts had expected. The company's stock gained $3.85, or 7 percent, to $61.70.

In the market for U.S. government bonds, the yield on the 10-year Treasury fell to 2.58 percent from 2.60 percent late Wednesday. The price of oil slipped 16 cents to $102.48 a barrel.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	88.17	points or ▲	0.52%	on	Friday, 6 June 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,924.28	▲	88.17	▲	0.52%		
	Nasdaq____	4,321.40	▲	25.17	▲	0.59%		
	S&P_500___	1,949.44	▲	8.98	▲	0.46%		
	30_Yr_Bond____	3.44	▲	0.00	▲	0.15%		

NYSE Volume	 2,857,702,750 	 	 	 	 	  		 
Nasdaq Volume	 1,593,400,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,858.21	▲	44.72	▲	0.66%		
	DAX_____	9,987.19	▲	39.36	▲	0.40%		
	CAC_40__	4,581.12	▲	32.39	▲	0.71%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,443.50	▲	23.80	▲	0.44%		
	Shanghai_Comp	2,029.96	▼	-10.92	▼	-0.54%		
	Taiwan_Weight	9,134.46	▼	-6.26	▼	-0.07%		
	Nikkei_225___	15,077.24	▼	-2.13	▼	-0.01%		
	Hang_Seng.__	22,951.00	▼	-158.66	▼	-0.69%		
	Strait_Times.__	3,299.43	▲	19.79	▲	0.60%		
	NZX_50_Index_	5,182.44	▲	22.95	▲	0.44%		

http://finance.yahoo.com/news/stock-market-heads-higher-jobs-141703150.html
*
Stock market heads higher after jobs report

Stock market heads higher after government says employers added 217K workers last month*
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- News that U.S. employers added workers at a good clip for the fourth straight month helped send the stock market higher Friday.

The Standard & Poor's 500 index notched another record high, its eighth in the past 10 days. For the week, the index climbed 1.3 percent, the third straight in which it has posted solid gains.

Before the market opened, the Labor Department said employers added 217,000 jobs to their payrolls in May, in the range of what economists had expected. The unemployment rate stayed put at 6.3 percent. Wall Street forecasters had expected it to inch up.

"It's another positive sign, along with retail sales, housing and everything else we've been seeing," said JJ Kinahan, chief strategist at TD Ameritrade. "There's nothing in this report to slow this market down, but all everyone has wanted to talk about is why the market is going to fall."

The S&P 500 index gained 8.98 points, or 0.5 percent, to close at 1,949.44.

The Dow Jones industrial average rose 88.17 points, also 0.5 percent, to 16,924.28, and the Nasdaq composite climbed 25.17 points, 0.6 percent, to 4,321.40.

Major indexes began a steady climb at the start of the day then spent the afternoon sitting tight. Industrial and energy companies, whose success often hinges on economic growth, led seven of the 10 sectors in the index higher.

Investor began to feel more optimistic earlier in the week on signs that the U.S. economy had shaken off a rough winter and on big steps by the European Central Bank to revive the region's economy.

Other reports revealed a rise in manufacturing growth in the world's two largest economies, U.S. and China. A survey of the U.S. service industry, which employs roughly nine out of every ten workers, showed an increase in new orders, production and hiring.

Even so, many investors question the stock market's slow and steady rise. There hasn't been a "correction," Wall Street-speak for a drop of 10 percent or more, since August 2011. The market is starting to get expensive compared with the historical average. Investors are currently paying $17 for every $1 in earnings for companies in the S&P 500 index, up from the historical average around $15.

Robert Pavlik, chief market strategist at Banyan Partners, a wealth-management firm, said he wouldn't be surprised to see the market drop in the summer months, especially if companies turn in dismal second-quarter results.

"The stock market isn't all that expensive right now," Pavlik said, "but I just don't see the earnings growth. That's why I think second-quarter earnings will be important."

Arista Networks soared in its first day of trading on the New York Stock Exchange. Arista raised $225 million from investors in its initial public offering late Thursday, selling more than five million shares at a price of $43 each. The company makes networking equipment for cloud computing, and had reportedly delayed its IPO after tech stocks took a beating in April.

Arista's stock jumped an even $12, or 28 percent, to $55.

Gap rose 87 cents, or 2 percent, to $42.06. After the market closed Thursday, Gap reported higher sales in May thanks to gains in its Banana Republic and Old Navy brands. Sales at stores open at least a year rose 1 percent, much better than analysts' forecasts.

One loser was Hertz, which slumped after the car-rental company said in a regulatory filing that it needs to correct its financial results for the past three years because of accounting errors. Hertz Global Holdings dropped $2.76, or 9 percent, to $27.73.

In overseas markets, Germany's main stock index, the DAX, rose 0.4 percent to a record high. Both France's CAC 40 and Britain's FTSE 100 closed with gains of 0.7 percent

In the market for U.S. government bonds, the yield on the 10-year Treasury was unchanged from late Thursday at 2.59 percent. The price of oil rose 18 cents to $102.66 a barrel.

5081


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	18.82	points or ▲	0.11%	on	Monday, 9 June 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,943.10	▲	18.82	▲	0.11%		
	Nasdaq____	4,336.24	▲	14.84	▲	0.34%		
	S&P_500___	1,951.27	▲	1.83	▲	0.09%		
	30_Yr_Bond____	3.45	▲	0.01	▲	0.41%		

NYSE Volume	 2,810,840,750 	 	 	 	 	  		 
Nasdaq Volume	 1,769,951,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,875.00	▲	16.79	▲	0.24%		
	DAX_____	10,008.63	▲	21.44	▲	0.21%		
	CAC_40__	4,589.12	▲	8.00	▲	0.17%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,443.50	▲	23.80	▲	0.44% *Holiday June 9* 
	Shanghai_Comp	2,030.50	▲	0.55	▲	0.03%		
	Taiwan_Weight	9,162.74	▲	28.28	▲	0.31%		
	Nikkei_225___	15,124.00	▲	46.76	▲	0.31%		
	Hang_Seng.__	23,098.82	▲	147.82	▲	0.64%		
	Strait_Times.__	3,305.20	▲	5.77	▲	0.17%		
	NZX_50_Index_	5,187.35	▲	4.91	▲	0.09%		

http://finance.yahoo.com/news/stock-market-ekes-another-record-211113387.html

*Stock market ekes out another record high

US stock market inches up to another record high after a flurry of corporate deals*
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Call it the ho-hum market. Another day, another record high.

News of a handful of corporate deals sent some stocks jumping Monday. And Family Dollar climbed following news that investor Carl Icahn has taken a stake in the company.

With no major economic reports to drive the market, U.S. indexes made slight gains in the morning then slouched back toward the breakeven mark in the afternoon. The Standard & Poor's 500 index still managed to close at another all-time high, rising 1.83 points, or less than 0.1 percent, to 1,951.27.

The Dow Jones industrial average edged up 18.82 points, or 0.1 percent, to 16,943.10, while the Nasdaq composite index gained 14.84 points, or 0.3 percent, to 4,336.24.

The S&P 500 has been on a steady climb for three weeks, lifting the benchmark for most investment funds by 4 percent the last month.

Judging by some measures, that sudden success makes it look like the S&P 500 has moved "too far, too fast," said Joe Bell, senior equity analyst at Schaeffer's Investment Research.

But there are still plenty of traders making bets against the market. People have also taken billions out of mutual funds that invest in U.S. stocks week after week, according to the Investment Company Institute.

"We don't think there's an overwhelming amount of optimism right now," Bell said.

In corporate deal news, Hillshire Brands rose $3.14, or 5 percent, to $62.06 after Tyson Foods emerged as the winner in a bidding war for meat processor.

Merck announced a deal to buy Idenix Pharmaceuticals for $3.85 billion, an acquisition that would give the pharmaceutical giant Idenix's array of treatments for hepatitis C. Idenix soared $16.56, or 229 percent, to $23.79.

Apple's stock rose $1.48 cents, or nearly 2 percent, to $93.77. That's after closing at $645.57 on Friday. The difference reflects Apple's 7-for-1 stock split, which gave every Apple stockholder six additional shares for every share they owned

In a disclosure filed to regulators late Friday, Carl Icahn said he and his affiliates have picked up a 9 percent stake in Family Dollar, a discount store, and plan to look for changes to boost the company's value. Family Dollar's stock jumped $8.09, or 13 percent, to $68.62.

Some investment analysts have been warning that the market is past due for a 10 percent drop, known as a "correction," because there hasn't been one since August 2011 ”” nearly three years. Since World War II, corrections typically hit every 18 months on average, according to S&P Capital IQ.

Jim Paulsen, the chief investment strategist at Wells Capital Management, said he wouldn't rule one out this year. But such a downturn requires the right environment, one in which investors get too greedy for their own good. Right now, he said, there's too much caution.

"It's going to take some time before people get so greedy that they're going to do stupid stuff and blow us up," Paulsen said.

In the market for U.S. government bonds, the yield on the 10-year Treasury edged up to 2.60 percent from 2.59 percent late Friday. Yields rise when bond prices fall. The price of oil rose $1.75 to $104.41 a barrel.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	2.82	points or ▲	0.02%	on	Tuesday, 10 June 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,945.92	▲	2.82	▲	0.02%		
	Nasdaq____	4,338.00	▲	1.75	▲	0.04%		
	S&P_500___	1,950.79	▼	-0.48	▼	-0.02%		
	30_Yr_Bond____	3.47	▲	0.02	▲	0.43%		

NYSE Volume	 2,684,963,000 	 	 	 	 	  		 
Nasdaq Volume	 1,771,682,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,873.55	▼	-1.45	▼	-0.02%		
	DAX_____	10,028.80	▲	20.17	▲	0.20%		
	CAC_40__	4,595.00	▲	5.88	▲	0.13%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,448.50	▲	5.00	▲	0.09%		
	Shanghai_Comp	2,052.53	▲	22.03	▲	1.08%		
	Taiwan_Weight	9,222.37	▲	59.63	▲	0.65%		
	Nikkei_225___	14,994.80	▼	-129.20	▼	-0.85%		
	Hang_Seng.__	23,315.74	▲	198.27	▲	0.86%		
	Strait_Times.__	3,293.82	▼	-11.38	▼	-0.34%		
	NZX_50_Index_	5,179.40	▼	-7.95	▼	-0.15%		

http://finance.yahoo.com/news/p-500...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3
*
S&P 500 slips, ending 4-day run of record highs

Standard & Poor's 500 index ends run of record highs; RadioShack slumps*
Associated Press
By Matthew Craft, AP Business Writer 

NEW YORK (AP) -- A run of record highs in the stock market came to an end Tuesday as the Standard & Poor's 500 index lost ground for just the second time this month.

The slight loss for the index broke a four-day string of all-time highs.

Shares of RadioShack sank after the retailer's losses deepened, and MetLife rose after the insurer announced a plan to buy back its own stock.

The Standard & Poor's 500 index slipped 0.48 of point, or 0.02 percent, to close at 1,950.79 on a quiet day for trading. The most widely used benchmark for mutual funds closed at an all-time high on Monday, its fourth record high in a row.

Six industry groups in the S&P 500 fell and four rose Tuesday, though none moved by more than 0.3 percent.

The Dow Jones industrial average rose 2.82 points, or 0.02 percent, to 16,945.92, while the Nasdaq picked up 1.75 points, or 0.04 percent, to 4,338.

After slumping earlier this year, the stock market has been on a slow and steady climb since April. In recent weeks, a number of encouraging economic reports have helped push the S&P 500 to a series of record highs and left the index up 5.5 percent for the year. Some analysts argue that this success rests on shaky ground.

"I've never seen a rally that has been so hated and mistrusted before," said Dan Veru, chief investment officer at Palisade Capital Management. "People ask me, 'Why is the stock market up? When should I bail out before the next crash?'"

Veru said one reason for the mistrust is that most people don't feel like the economy is strong enough.

"It's slow but improving and if you're a stock investor, that implies higher corporate profits and, eventually, higher stock prices," he said.

Before the market opened Tuesday, RadioShack posted a deeper quarterly loss than analysts had expected. Sales fell as the retailer tries to remake its image. RadioShack dropped 16 cents, or 10 percent, to $1.38.

MetLife announced plans to buy its own shares, aiming to spend up to $1 billion. The news sent MetLife up 39 cents, or 0.7 percent, to $55.05.

More evidence of an improving economy came Tuesday when the government reported that wholesalers added to their stockpiles of goods in April, a move that suggests they anticipate stronger growth. A separate report showed that the number of job openings climbed to 4.5 million in April, the highest figure since September 2007. The increase could be a hint of stronger hiring in the months ahead.

"The labor market recovery looks for real," Chris Rupkey, chief financial economist at the Bank of Tokyo-Mitsubishi, wrote in a note to clients. "The economy is better than you think."

In the market for U.S. government bonds, the yield on the 10-year Treasury inched up to 2.64 percent from 2.61 percent late Monday. Yields rise when bond prices fall. The price of oil fell 6 cents to settle at $104.35 a barrel.

Among other companies in the news:

”” After rising to $165.48 in the morning, Allergan's stock went into reverse and lost $1.06 cents, or 0.6 percent, to $163.09. The company rejected a buyout offer from Valeant Pharmaceuticals and Bill Ackman's Pershing Square Capital Management, saying the $53 billion bid undervalues the maker of Botox.

”” Best Buy's stock rose 69 cents, or 2 percent, to $29.49 after the retailer said it was going to raise its quarterly dividend by two cents to 19 cents a share. The move comes a month after Best Buy reported its highest quarterly profit in more than three years.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-102.04	points or ▼	-0.60%	on	Wednesday, 11 June 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,843.88	▼	-102.04	▼	-0.60%		
	Nasdaq____	4,331.93	▼	-6.06	▼	-0.14%		
	S&P_500___	1,943.89	▼	-6.90	▼	-0.35%		
	30_Yr_Bond____	3.47	▲	0.00	▲	0.09%		

NYSE Volume	 2,678,050,250 	 	 	 	 	  		 
Nasdaq Volume	 1,756,841,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,838.87	▼	-34.68	▼	-0.50%		
	DAX_____	9,949.81	▼	-78.99	▼	-0.79%		
	CAC_40__	4,555.11	▼	-39.89	▼	-0.87%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,432.50	▼	-16.00	▼	-0.29%		
	Shanghai_Comp	2,054.95	▲	2.42	▲	0.12%		
	Taiwan_Weight	9,229.80	▲	7.43	▲	0.08%		
	Nikkei_225___	15,069.48	▲	74.68	▲	0.50%		
	Hang_Seng.__	23,257.29	▼	-58.45	▼	-0.25%		
	Strait_Times.__	3,290.04	▼	-3.78	▼	-0.11%		
	NZX_50_Index_	5,179.15	▼	-0.25	▲	0.00%		

http://finance.yahoo.com/news/stocks-fall-back-world-bank-202132101.html
*
Stocks fall back as World Bank cuts growth outlook

Stocks drop from record levels as World Bank cuts growth forecast; Delta falls on profit worry*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The stock market fell back from record levels Wednesday because of a weaker forecast for global growth and concerns about airline profits.

Delta Air Lines and other carriers fell after Germany's Lufthansa warned of smaller profits. Boeing slid after analysts said that most of the good news about the plane maker was already priced into the stock.

Stocks opened lower after the World Bank predicted weaker global growth this year, citing a tough winter in America and the political crisis in Ukraine. The bank said late Tuesday that it expects the world economy to grow 2.8 percent this year instead of the 3.2 percent it predicted in January.

The report was a reality check for investors who had pushed major stock indexes to all-time highs this week amid optimism that the U.S. economy was strengthening. Stronger growth should translate into higher revenues and better results for U.S. companies.

Stocks "were going up so much in the last few days that they were due for a little breather," said Brad Sorensen, director of market and sector research at Charles Schwab.

The Standard & Poor's 500 index fell 6.90 points, or 0.4 percent, to 1,943.89. The index had closed at a record of 1,951.27 on Monday. The Dow Jones industrial average dropped 102.04 points, or 0.6 percent, to 16,843.88. The Nasdaq composite slipped 6.07 points, or 0.1 percent, to 4,331.93.

On Wednesday, airline stocks were among the big losers after Lufthansa warned of smaller profits caused by weaker passenger demand. Lufthansa AG cut its forecast for 2014 and 2015 operating income due to the weaker demand and strikes, among other reasons. Delta dropped $1.21, or 3 percent, to $40.71, making it the second-biggest loser among S&P 500 stocks.

Still, Delta's stock is up 48 percent this year, the most of any U.S. carrier.

United Continental fell $2.50, or 5 percent, to $45.26 and American Airlines slid $1.37, or 3 percent, to $42.29.

Boeing was another big decliner.

The plane maker's stock fell $3.15, or 2.3 percent, to $134.10 after analysts at RBC said that after three years of record orders and with no new planes in the pipeline, the good news for Boeing is "already out there."

Despite Wednesday's setback, the S&P 500 has been on a slow and steady climb since April and is now up 5.2 percent for the year. In recent weeks, encouraging economic reports on hiring have bolstered optimism that growth will accelerate.

The rally in stocks should continue this year as the economy strengthens, said James Liu, global market strategist at JPMorgan Funds. In the last month, stock gains have been led by the technology and consumer discretionary sectors, which should benefit more from stronger growth. This move "is going to be what drives the market further along," Liu said.

Still, others believe that stock investors need to have more modest expectations for stock returns after last year's big gains when the S&P 500 surged almost 30 percent. Stock valuations have already risen significantly and, after years of cost-cutting, companies may struggle to boost profit margins unless economic growth picks up significantly, said John Toohey, head of equities at USAA, a financial services company.

"Margins are high, so really how much margin expansion is left?," said Toohey.

In government bond trading, bonds gained as stocks fell. The yield on the 10-year Treasury note, which moves inversely to its price, dropped to 2.64 percent from 2.65 percent on Tuesday.

Among other stocks making big moves;

”” H&R Block jumped $1.42 cents, or 4.6 percent, to $32.15, making it the second-biggest gainer in the S&P 500. Driving the stock higher was news that the company's earnings beat Wall Street expectations. Fourth-quarter net income at the tax preparation company surged as more people used its services and its prepaid card.

”” Synaptics jumped $19.26, or 29 percent, to $85.78 after the maker of touch-screen technology said it would buy smartphone and tablet chipmaker Renesas SP Drivers for $475 million. Because of the deal, Synaptics also raised its fourth-quarter revenue outlook.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-109.69	points or ▼	-0.65%	on	Thursday, 12 June 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,734.19	▼	-109.69	▼	-0.65%		
	Nasdaq____	4,297.63	▼	-34.30	▼	-0.79%		
	S&P_500___	1,930.11	▼	-13.78	▼	-0.71%		
	30_Yr_Bond____	3.41	▼	-0.06	▼	-1.70%		

NYSE Volume	 3,033,783,750 	 	 	 	 	  		 
Nasdaq Volume	 1,866,007,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,843.11	▲	4.24	▲	0.06%		
	DAX_____	9,938.70	▼	-11.11	▼	-0.11%		
	CAC_40__	4,554.40	▼	-0.71	▼	-0.02%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,407.90	▼	-24.60	▼	-0.45%		
	Shanghai_Comp	2,051.71	▼	-3.24	▼	-0.16%		
	Taiwan_Weight	9,204.65	▼	-25.15	▼	-0.27%		
	Nikkei_225___	14,973.53	▼	-95.95	▼	-0.64%		
	Hang_Seng.__	23,175.02	▼	-82.27	▼	-0.35%		
	Strait_Times.__	3,294.56	▲	4.52	▲	0.14%		
	NZX_50_Index_	5,195.11	▲	15.96	▲	0.31%		

http://finance.yahoo.com/news/stocks-fall-economic-news-iraq-210345990.html

*Stocks fall on so-so economic news, Iraq turmoil

US stocks fall broadly on disappointing economic reports, Iraq violence; airlines fall sharply*
Associated Press
By Bernard Condon, AP Business Writer

NEW YORK (AP) -- A combination of so-so economic news and violence in Iraq helped push the stock market sharply lower Thursday.

Stocks fell from the start of trading on a government report that retail sales for May came in slightly lower than expected. A separate report on jobs was weak, too. A surge in oil prices as violence flared in Iraq also weighed on the market, and hammered airline stocks.

For the Standard and Poor's 500, it was the third down day in a row, a reversal of sorts from steady, if unremarkable, rises for much of the year. The index is heading for its first weekly loss in four weeks.

Uri Landesman, president of hedge fund Platinum Partners, said investors had gotten too complacent after a strong run in stocks, and the pullback wasn't surprising.

"It's time for profit taking, taking risk off the table," he said. "It's very rare that markets move up in a straight line."

The Dow Jones industrial average fell 109.69 points, or 0.7 percent, to 16,734.19. The Nasdaq shed 34.30 points, or 0.8 percent, to 4,297.63. The S&P 500 was down 13.78 points, or 0.7 percent, to 1,930.11.

The S&P 500 is up 4.4 percent this year following an impressive 30 percent rise in 2013.

In the retail report, the Commerce Department said U.S. sales rose 0.3 percent last month, helped by a surge in auto demand. That was the fourth straight month of gains, but shy of the 0.4 percent increase that economists expected.

The Labor Department said that weekly applications for unemployment benefits rose 4,000 to a seasonally adjusted 317,000.

"The data today was a little unfulfilling," said Lawrence Creatura, a portfolio manager at Federated Investors. Still, he is optimistic in the face of the selling because he believes the economy is generally strengthening. "We're definitely not flinching. We're holding our positions."

Energy stocks rose broadly after insurgents captured two cities in Iraq, raising the specter of disrupted global oil supplies. The price of oil rose $2.13, or 2 percent, to $106.53. Diamond Offshore Drilling climbed $1.89, or 4 percent, to $48.77, making it the second-biggest gainer in the S&P 500.

Among the 10 sectors in the S&P 500, only energy and utility companies were up for day.

A combination of higher oil prices and a warning by Lufthansa of smaller profits due to weaker passenger demand helped drive down airline stocks. Delta Air Lines fell $2.21, or 5 percent, to $38.50, the most in the S&P 500 index. United Continental dropped $2.66, or 6 percent, to $42.60.

Among other stocks making big moves:

”” Lululemon Athletica fell $7.05, or 16 percent, to $37.25 after reporting that first-quarter profit tumbled 60 percent, stung by a one-time tax adjustment. The Canadian yoga-clothing company also lowered its full-year earnings forecast.

”” Restoration Hardware jumped $9.05, or 13 percent, to $80.40 after the furniture and housewares company reported stronger-than-expected results in its fiscal first quarter and raised its outlook for the year, topping Wall Street's prediction.

”” Twitter rose $1.25, or 3.5 percent, to $36.79 after news that its chief operating officer, Ali Rowghani, had resigned. Rowghani was in charge of expanding Twitter's user base, but this didn't happen as quickly as investors had hoped.

In government bond trading, the yield on the 10-year Treasury note, which moves in the opposite direction to its price, slipped to 2.60 percent from 2.64 percent on Wednesday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	41.55	points or ▲	0.25%	on	Friday, 13 June 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,775.74	▲	41.55	▲	0.25%		
	Nasdaq____	4,310.65	▲	13.02	▲	0.30%		
	S&P_500___	1,936.16	▲	6.05	▲	0.31%		
	30_Yr_Bond____	3.41	▲	0.00	▲	0.06%		

NYSE Volume	 2,582,930,750 	 	 	 	 	  		 
Nasdaq Volume	 1,734,185,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,777.85	▼	-65.26	▼	-0.95%		
	DAX_____	9,912.87	▼	-25.83	▼	-0.26%		
	CAC_40__	4,543.28	▼	-11.12	▼	-0.24%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,383.70	▼	-24.20	▼	-0.45%		
	Shanghai_Comp	2,070.71	▲	19.00	▲	0.93%		
	Taiwan_Weight	9,196.39	▼	-8.26	▼	-0.09%		
	Nikkei_225___	15,097.84	▲	124.31	▲	0.83%		
	Hang_Seng.__	23,319.17	▲	144.15	▲	0.62%		
	Strait_Times.__	3,293.25	▲	0.24	▲	0.01%		
	NZX_50_Index_	5,170.51	▼	-24.60	▼	-0.47%		

http://finance.yahoo.com/news/stock-market-rises-merger-news-204540140.html

*Stock market rises on merger news

Stocks rise on flurry of corporate deals; Intel jumps after raising revenue forecast*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- A flurry of corporate deals and a positive outlook for the technology industry gave the stock market a lift Friday.

Intel jumped after the company said sales of business computers have been stronger than expected, and raised its revenue forecast. Technology stocks rose on the news, which was also a positive sign for investors who are betting that higher investment from businesses will help drive the economy this year.

Still, major indexes had their first weekly losses in a month. A combination of so-so economic news and concerns about the impact of higher oil prices weighed on stocks earlier in the week.

"The economy is still on a decent trend, but it's choppy and I think we can expect the same for the market," said Jerry Braakman, chief investment officer at First American Trust.

The Standard & Poor's 500 index climbed 6.05 points, or 0.3 percent, to 1,936.16. The index ended the week down 0.7 percent after closing at an all-time high of 1,951.27 on Monday.

The Dow Jones industrial average gained 41.55 points, or 0.3 percent, to 16,775.74. The Nasdaq composite climbed 13.02 points, or 0.3 percent, to 4,310.65.

Intel was one of the top gainers in the S&P 500 after the company raised its revenue forecast late Thursday and said it expects profit margins to increase. The stock jumped $1.91, or 6.8 percent, to $29.87.

A spurt of merger news also lifted stocks.

Gambling equipment maker International Game Technology was the biggest gainer in the S&P 500. It jumped $1.51, or 10.5 percent, to $15.86 after Reuters reported that a number of companies considered bidding for it.

OpenTable, an online restaurant booking service, surged $34.05, or 48.3 percent, to $104.48 after the company agreed to be acquired by Priceline for $2.6 billion. The deal will help Priceline, an online travel company, branch out into a new business. Priceline's international reach will help OpenTable expand overseas.

The deal sparked speculation that other technology companies could be acquired. Yelp's stock surged $9.08, or nearly 14 percent, to close at $74.92.

Clothes retailer Express jumped $2.90, or 21 percent, to $16.45 after it said it had been approached about a takeover by Sycamore Partners, a New York-based private equity company. Sycamore already owns 9.9 percent of Express' stock.

"It seems like you have a deal almost every day," said John Fox, director of research at Fenimore Asset Management.

While the number of acquisitions completed this year is roughly the same as it was at this point last year, the value has surged. U.S. companies have closed deals worth $714 billion, up 47 percent from $485 billion over the same period last year, according to Dealogic.

The price of crude added modestly to gains from earlier in the week. Crude is rising because Iraq's insurgency threatens to disrupt exports from OPEC's No. 2 oil producer. On Friday, oil nudged up 38 cents, or 0.3 percent, to $106.81 a barrel after a jump of more than $2 the day before. For the week, oil has risen 4 percent.

If the turmoil in Iraq continues and oil prices climb high enough, U.S. growth in the second half of the year may fall short of current estimates, said David Lafferty, the chief market strategist for Natixis Global Asset Management.

In U.S. government bond trading, the yield on the 10-year note rose to 2.61 percent early Friday from 2.60 on Thursday. The yield on a bond rises when its price falls.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	5.27	points or ▲	0.03%	on	Monday, 16 June 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,781.01	▲	5.27	▲	0.03%		
	Nasdaq____	4,321.11	▲	10.45	▲	0.24%		
	S&P_500___	1,937.78	▲	1.62	▲	0.08%		
	30_Yr_Bond____	3.40	▼	-0.01	▼	-0.44%		

NYSE Volume	 2,920,162,500 	 	 	 	 	  		 
Nasdaq Volume	 1,661,299,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,754.64	▼	-23.21	▼	-0.34%		
	DAX_____	9,883.98	▼	-28.89	▼	-0.29%		
	CAC_40__	4,510.05	▼	-33.23	▼	-0.73%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,390.60	▲	6.90	▲	0.13%		
	Shanghai_Comp	2,085.98	▲	15.27	▲	0.74%		
	Taiwan_Weight	9,202.93	▲	6.54	▲	0.07%		
	Nikkei_225___	14,933.29	▼	-164.55	▼	-1.09%		
	Hang_Seng.__	23,300.67	▼	-18.50	▼	-0.08%		
	Strait_Times.__	3,290.26	▼	-2.99	▼	-0.09%		
	NZX_50_Index_	5,178.80	▲	8.29	▲	0.16%		

http://finance.yahoo.com/news/us-stocks-manage-meager-gains-201815193.html

*US stocks manage meager gains on mostly quiet day

US stocks manage meager gains in listless trading; Deals lift Covidien, Williams Companies*
Associated Press
By Alex Veiga, AP Business Writer

Investors nudged U.S. stocks into positive territory Monday, thanks in part to another round of corporate couplings.

Three proposed acquisitions, including medical device maker Medtronic's $42.9 billion bid for rival Covidien, helped the market eke out a slight gain for the second trading day in a row.

Homebuilding stocks also got a boost from a survey showing that U.S. homebuilders' outlook on the housing market improved this month.

Stocks mostly hovered between small gains and losses through much of the day as traders monitored the conflict in Iraq and considered its potential impact on oil prices.

Major U.S. stock indexes were down in premarket trading, but began to rebound within the first hour as investors bid up shares in Ireland-based Covidien. The stock jumped $14.73, or more than 20 percent, to $86.75. Medtronic shed 67 cents, or 1.1 percent, to $60.03.

"Merger Monday clearly gave a lift to the market," said Joe Peta, managing director at Novus.

Two other deals also drew heightened interest from traders.

Williams Cos. hit an all-time high after the pipeline operator agreed to buy a part of natural gas processor Access Midstream Partners for nearly $6 billion. Williams vaulted $8.84, or 18.7 percent, to $56.02.

TW Telecom climbed $2.65, or 7.3 percent, to $38.99 after the Internet provider agreed to be acquired by Level 3 Communications for about $7.3 billion, including debt. Level 3 shares fell $1.79, or 4.1 percent, to $42.30.

The market was still heading for a loss in the final hour of trading, then recovered within the last 10 minutes.

All told, the Standard & Poor's 500 index rose 1.62 points, or 0.1 percent, to 1,937.78. The index is down less than 1 percent from its most recent all-time high of 1,951.27 set a week ago.

Seven of the 10 sectors in the S&P 500 index rose, led by utilities.

The Dow Jones industrial average added 5.27 points, or 0.03 percent, to 16,781.01. The Nasdaq composite gained 10.45 points, or 0.2 percent, to 4,321.11.

The three stock indexes are all up for the year.

Bond prices were flat. The yield on the 10-year Treasury note held steady at 2.60 percent.

The market has been sluggish in recent months, even as investors have had more than a few geopolitical concerns to worry about. Earlier this year, it was currency concerns in Turkey and then the fallout from Russian-Ukraine tensions. Last week, the insurgency in Iraq erupted, causing a spike in oil prices.

Still, the day-to-day market swings have been mostly minor.

Monday was the 41st day in a row that the S&P 500 did not move 1 percent, one way or the other, Peta noted.

"That lack of volatility is something we have not seen since 1995," he said. "You can call it complacent, or non-volatile or sluggish, but certainly this is a different environment than we've seen for quite some time."

At the same time, a flurry of merger news has helped lift stocks in recent weeks, a trend that underscores that stocks are not seen as expensive right now.

"Companies are looking to redeploy cash, looking to hopefully ignite growth through acquisition," said Sean Lynch, managing director of global equity for Wells Fargo Private Bank.

There was also encouraging news on the housing market.

The National Association of Home Builders/Wells Fargo builder sentiment index rose this month to the highest level since January. The latest report suggests homebuilders' confidence in the housing market is improving. Homebuilder stocks rose, led by LGI Homes, which added 60 cents, or 3.4 percent, to $18.24.

Investors will be looking ahead this week to what the Federal Reserve will say on Wednesday, when it wraps up its latest two-day meeting of its policymaking committee.

"Where we'll see risk injected (into the market) will be if there's anything but a rubber stamp of the Fed waiting until next year to raise rates," he said.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	27.48	points or ▲	0.16%	on	Tuesday, 17 June 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,808.49	▲	27.48	▲	0.16%		
	Nasdaq____	4,337.23	▲	16.13	▲	0.37%		
	S&P_500___	1,941.99	▲	4.21	▲	0.22%		
	30_Yr_Bond____	3.45	▲	0.05	▲	1.44%		

NYSE Volume	 2,952,588,500 	 	 	 	 	  		 
Nasdaq Volume	 1,798,400,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,766.77	▲	12.13	▲	0.18%		
	DAX_____	9,920.32	▲	36.34	▲	0.37%		
	CAC_40__	4,536.07	▲	26.02	▲	0.58%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,380.70	▼	-9.90	▼	-0.18%		
	Shanghai_Comp	2,066.70	▼	-19.28	▼	-0.92%		
	Taiwan_Weight	9,240.60	▲	37.67	▲	0.41%		
	Nikkei_225___	14,975.97	▲	42.68	▲	0.29%		
	Hang_Seng.__	23,203.59	▼	-97.08	▼	-0.42%		
	Strait_Times.__	3,274.44	▼	-15.82	▼	-0.48%		
	NZX_50_Index_	5,193.50	▲	14.70	▲	0.28%		

http://finance.yahoo.com/news/stocks-close-higher-banks-gain-210929722.html
*
Stocks close higher as banks gain on rising rates

US stocks finish higher as uptick in long-term interest rates lifts financial stocks*

Associated Press
By Alex Veiga, AP Business Writer 

Stocks rebounded from a downbeat start Tuesday, building on small gains for the third day in a row.

News that U.S. consumer prices jumped sharply in May drove up long-term interest rates, setting the stage for the turnaround as investors bid up shares in financial stocks such as E-Trade Financial, Charles Schwab and Goldman Sachs.

Disappointing home construction data had weighed on the market early on, sending homebuilder stocks lower.

The major stock indexes recovered, but only barely above the previous day's close.

"The market is just kind of drifting along. Everybody is trying to figure out how much of a hold this economic expansion can get, if we can get some self-sustaining momentum going," said Brad Sorensen, director of market and sector analysis at the Schwab Center for Financial Research.

Investors may get a better sense of that on Wednesday afternoon, when the Federal Reserve is scheduled to give an update following a two-day meeting of its policy-making committee.

Fed officials are widely expected to keep a key short-term rate near zero. The Fed will also update its economic forecasts.

"We're all waiting to see what the Fed has to say tomorrow," said JJ Kinahan, chief strategist at TD Ameritrade.

The Standard & Poor's 500 index rose 4.21 points, or 0.2 percent, to 1,941.99. The index is down less than 1 percent from its most recent all-time high of 1,951.27 set last week.

Five of the 10 sectors in the S&P 500 rose, led by financials. Utilities fell the most.

The Dow Jones industrial average added 27.48 points, or 0.2 percent, to 16,808.49. The Nasdaq composite gained 16.13 points, or 0.4 percent, to 4,337.23.

The three stock indexes are all up for the year.

Stocks were down slightly in premarket trading Tuesday as investors got a look at the latest data on U.S. home construction. The Commerce Department reported that homebuilders broke ground on new apartments and houses at an annual rate of 1.01 million homes in May. That's down 6.5 percent from the previous month.

The report sent homebuilder shares mostly lower for much of the morning. Most recovered by the afternoon.

Separately, the Labor Department reported that U.S. consumer prices vaulted last month by the largest amount in more than a year, propelled by rising costs for food, gasoline and airline fares.

The bigger-than-expected hike in prices helped ease demand for government bonds, pushing down bond prices. The yield on the 10-year Treasury note rose to 2.65 percent from 2.60 percent late Monday.

Higher long-term interest rates can translate into more earnings for financial institutions that make loans.

E-Trade Financial was among the biggest gainers, rising $1.58, or 7.7 percent, to $22. Charles Schwab added $1.42, or 5.5 percent, to $27.30.

Banks including Goldman Sachs and Morgan Stanley also posted gains. Morgan Stanley rose 79 cents, or 2.5 percent, to $32.50, while Goldman Sachs gained $2.37, or 1.4 percent, to $168.22. Goldman rose the most of the 30 stocks in the Dow Jones industrial average.

By afternoon, stocks had climbed into positive territory and held on to their gains the rest of the day.

Solid quarterly growth in banking and trading at Jefferies Corp. also raised hopes that investment banking could be strengthening, Kinahan said.

Among other stocks making news Tuesday:

”” GameStop surged 6.8 percent on a report from the NPD Group that revealed huge video game sales in May and likely some bigger margins for the video game retailer. GameStop rose $2.57 to $40.29.

”” UBS and Susquehanna analysts struck an optimistic tone about growth in the travel industry. That helped lift shares in travel website Expedia $3.04, or 4.1 percent, to $77.62. Orbitz Worldwide rose 38 cents, or 4.7 percent, to $8.50.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	98.13	points or ▲	0.58%	on	Wednesday, 18 June 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,906.62	▲	98.13	▲	0.58%		
	Nasdaq____	4,362.84	▲	25.60	▲	0.59%		
	S&P_500___	1,956.98	▲	14.99	▲	0.77%		
	30_Yr_Bond____	3.42	▼	-0.03	▼	-0.81%		

NYSE Volume	 3,066,941,250 	 	 	 	 	  		 
Nasdaq Volume	 1,836,734,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,778.56	▲	11.79	▲	0.17%		
	DAX_____	9,930.33	▲	10.01	▲	0.10%		
	CAC_40__	4,530.37	▼	-5.70	▼	-0.13%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,363.90	▼	-16.80	▼	-0.31%		
	Shanghai_Comp	2,055.52	▼	-11.18	▼	-0.54%		
	Taiwan_Weight	9,279.93	▲	39.33	▲	0.43%		
	Nikkei_225___	15,115.80	▲	139.83	▲	0.93%		
	Hang_Seng.__	23,181.72	▼	-21.87	▼	-0.09%		
	Strait_Times.__	3,277.32	▲	2.88	▲	0.09%		
	NZX_50_Index_	5,184.46	▼	-9.04	▼	-0.17%		

http://finance.yahoo.com/news/stocks-close-higher-4th-straight-212605389.html

*Stocks close higher for 4th straight day

US stocks add to weekly gains, get lift as Federal Reserve further trims its bond purchases*

Associated Press
By Alex Veiga, AP Business Writer

The Federal Reserve's latest economic update reversed a listless slide for stocks Wednesday, propelling the Standard & Poor's 500 index to another record-high close.

The central bank's statement reassure investors on two fronts: The Fed sees improvement in the U.S. job market and signs of just modest inflation, but it also intends to continue keeping short-term interest rates low, a policy that's helped make stocks more attractive.

The market had been in a wait-and-see mode in advance of the Fed statement, drifting lower for much of the day. The afternoon rebound gave the stock market its fourth consecutive gain.

"The important thing is that the Federal Reserve has acknowledged that the unemployment rate seems to be coming down just a little bit faster than they expected," said David Kelly, chief global strategist at J.P. Morgan Funds.

Major U.S. stock indexes were mostly flat in premarket trading Wednesday. They wavered through much of the morning then settled slightly in the red, where they held right up to the release of the Federal Reserve's statement at 2:00 p.m. Eastern Time.

Stock investors appeared pleased with the Fed's message that rates would remain low. That sent indexes up more than half a percentage point.

The Standard & Poor's 500 index rose 14.99 points, or 0.8 percent, to 1,956.98, a record close. The most recent all-time high was 1,951.27 set early last week.

The Dow Jones industrial average added 98.13 points, or 0.6 percent, to 16,906.62. The Nasdaq composite gained 25.60 points, or 0.6 percent, to 4,362.84.

The three indexes are all up for the year.

The Fed expects the U.S. economy to grow just 2.1 percent to 2.3 percent this year, down from 2.8 percent to 3 percent in its last projections released in March.

At a news conference Wednesday, Fed Chair Janet Yellen said that despite a steadily improving job market and signs of creeping inflation, the Fed sees no need to raise short-term interest rates from record lows anytime soon.

The Fed statement also appeared to whet investors' appetite for bonds. The yield on the 10-year Treasury note fell to 2.59 percent Wednesday from 2.65 percent late Tuesday.

Kelly noted that even if short-term interest rates rise to 2.5 percent by the end of 2016, it doesn't make sense that long-term rates, as reflected by the yield on the 10-year Treasury note, are as low as they are.

"That's a sign of excess demand in the bond market," he said. "The message for investors is: Be careful. Because long-term interest rates are in the wrong place and they'll likely gradually move up."

Investors looking for yield continued to invest in utilities stocks Wednesday.

Utilities posted the biggest gain in the S&P 500 index's 10 sectors, rising 2.2 percent. The sector is up more than 14 percent this year.

Among other stocks in the news Wednesday:

”” FedEx gained $8.64, or 6.2 percent, to $148.95 after the company reported that its quarterly profit rose as growth in online shopping gave its ground-shipping business a boost. Earnings and revenue both topped Wall Street's expectations.

”” Air Products & Chemicals surged $9.12, or about 7.5 percent, to $130.72 after the specialty gas company announced it hired Rockwood's Seifi Ghasemi as its new chairman and CEO to replace its retiring chief executive.

”” Food maker ConAgra sank $2.38, or 7.2 percent, to $30.47 after it slashed its fourth-quarter earnings outlook, citing slumping sales for its consumer foods segment, as well as weak profits for its private brands unit.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	14.84	points or ▲	0.09%	on	Thursday, 19 June 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,921.46	▲	14.84	▲	0.09%		
	Nasdaq____	4,359.33	▼	-3.51	▼	-0.08%		
	S&P_500___	1,959.48	▲	2.50	▲	0.13%		
	30_Yr_Bond____	3.46	▲	0.04	▲	1.20%		

NYSE Volume	 2,930,979,750 	 	 	 	 	  		 
Nasdaq Volume	 1,824,844,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,808.11	▲	29.55	▲	0.44%		
	DAX_____	10,004.00	▲	73.67	▲	0.74%		
	CAC_40__	4,563.04	▲	32.67	▲	0.72%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,446.40	▲	82.50	▲	1.54%		
	Shanghai_Comp	2,023.73	▼	-31.78	▼	-1.55%		
	Taiwan_Weight	9,316.81	▲	36.88	▲	0.40%		
	Nikkei_225___	15,361.16	▲	245.36	▲	1.62%		
	Hang_Seng.__	23,167.73	▼	-13.99	▼	-0.06%		
	Strait_Times.__	3,269.02	▼	-7.78	▼	-0.24%		
	NZX_50_Index_	5,192.15	▲	7.69	▲	0.15%		

http://finance.yahoo.com/news/recovery-gives-p-500-another-201838305.html

*Late recovery gives S&P 500 another record close

A late push sends S&P 500 to another record high close and fifth straight gain; Kroger soars*
Associated Press
By Alex Veiga, AP Business Writer

Investors remained in a record-setting mood Thursday.

The Standard & Poor's 500 index closed at an all-time high for the second time in two days and notched its fifth gain in five days.

The Dow Jones industrial average and Nasdaq composite ended mixed after drifting between small gains and losses for much of the day.

The three key stock indexes all opened higher, holding on to tiny gains in premarket trading as investors sized up the latest data on unemployment aid applications and an index of economic indicators.

The Labor Department reported that applications for unemployment benefits fell last week to 312,000, the lowest in more than six years. The Conference Board added to the good news, saying its index of leading indicators rose 0.5 percent in May from the previous month.

The market began to drift lower, however, as investors looked beyond the economic data and focused instead on a mixed bag of corporate earnings from companies such as Kroger, Rite Aid and Pier 1 Imports.

By midday, stocks veered into the red, where they remained until halfway through the final hour of trading, when a late push elevated the S&P 500 and Dow barely higher on the day.

"Right now we're in a situation where they're pretty boring markets, just a slow, easy grind," said Chris Gaffney, a senior market strategist at EverBank Wealth Management.

The S&P 500 index rose 2.50 points, or 0.1 percent, to 1,959.48. That's slightly above the prior day's record close of 1,956.98. The last time the index closed at a record high was June 9th.

The Dow Jones industrial average added 14.84 points, or 0.1 percent, to 16,921.46. The Nasdaq composite slipped 3.51 points, or 0.1 percent, to 4,359.33.

The three indexes are all up for the year.

The string of record highs has the S&P 500 index running ahead of its 50-day moving average. That suggests it could be in for a pullback, said Jim Russell, senior equity strategist at U.S. Bank Wealth Management. Russell still expects the market to move higher in coming months.

"We think the environment is still favorable for equities to have an upward bias," Russell said. "It's still too early to put the bear suit on."

Despite its upward bent, the market has been mostly registering small moves, reflecting a cautious mood on the part of many investors heading into summer, as well as lingering concern over the possible fallout from the crisis in Iraq and questions over the resiliency of the U.S. economy.

The U.S. economy shrank at an annual rate of 1 percent in the January-March quarter, the victim of a severe winter which slowed business activity in a number of areas. Many analysts anticipate growth rebounded strongly in the April-June quarter.

"We know the economy is showing signs of improvement, and we've seen that trajectory over the past two or three months," said Russell. "To move the equity market to a higher level we need to see anecdotal evidence that company earnings are starting to increase."

The market will get a sense of that next month, when the next round of corporate earnings begins. Until then, the next key market mover will likely be the June jobs report, due out the first week of July.

On Thursday, investors waded through a mixed bag of corporate news.

Kroger rose $2.39, or 5.1 percent, to $49.66 after the supermarket operator raised its earnings forecast for the year. American Apparel jumped 6.7 percent after the company's board said it would fire the CEO. The stock rose 4 cents to close at 68 cents.

Other companies didn't fare as well.

Rite Aid reported its fiscal first-quarter earnings sank 55 percent due to higher-than-expected drug costs and other expenses. The stock fell 26 cents, or 3.5 percent, to $7.18.

Pier 1 Imports tumbled 13.1 percent after the furniture retailer's quarterly profit fell short of Wall Street expectations. The company also lowered its full-year forecast. The stock fell $2.40 to $15.86.

Investors also hammered the stock of luxury goods maker Coach after the company said it will shutter about 70 underperforming stores in a bid to regain ground lost to competitors. The stock fell $3.50, or 8.9 percent, to $35.69.

All told, six of the 10 sectors in the S&P 500 index rose, led by utilities. The sector is up 15.1 percent this year as investors have piled into stocks that pay high dividends. Technology stocks fell the most.

Bond prices fell, sending the yield on the 10-year Treasury note up to 2.63 percent from 2.59 percent late Wednesday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	25.62	points or ▲	0.15%	on	Friday, 20 June 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,947.08	▲	25.62	▲	0.15%		
	Nasdaq____	4,368.04	▲	8.71	▲	0.20%		
	S&P_500___	1,962.87	▲	3.39	▲	0.17%		
	30_Yr_Bond____	3.45	▼	-0.01	▼	-0.20%		

NYSE Volume	 4,260,380,000 	 	 	 	 	  		 
Nasdaq Volume	 2,694,645,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,825.20	▲	17.09	▲	0.25%		
	DAX_____	9,987.24	▼	-16.76	▼	-0.17%		
	CAC_40__	4,541.34	▼	-21.70	▼	-0.48%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,401.60	▼	-44.80	▼	-0.82%		
	Shanghai_Comp	2,026.67	▲	2.94	▲	0.15%		
	Taiwan_Weight	9,273.79	▼	-43.02	▼	-0.46%		
	Nikkei_225___	15,349.42	▼	-11.74	▼	-0.08%		
	Hang_Seng.__	23,194.06	▲	26.33	▲	0.11%		
	Strait_Times.__	3,258.80	▼	-10.22	▼	-0.31%		
	NZX_50_Index_	5,145.03	▼	-47.12	▼	-0.91%		

http://finance.yahoo.com/news/stocks-manage-small-gains-dow-201207572.html
*
Stocks manage small gains; Dow, S&P 500 at records

Stocks manage small gains; Dow and Standard & Poor's 500 index renew records; CarMax soars*
Associated Press
By Alex Veiga, AP Business Writer

Stocks inched past more milestones Friday, delivering the third consecutive record-high close for the Standard & Poor's 500 index and a new high for the Dow Jones industrial average.

The S&P 500 is now up 6.2 percent for the year, while the Dow is up 2.2 percent. The major stock indexes all finished ahead for the week.

On a light day for U.S. economic data, investors mostly focused on companies in the news, such as CarMax, Oracle and Darden Restaurants. They also kept an eye on the developing conflict in Iraq, which pushed oil prices near a nine-month high.

Despite the record-setting moves, it was largely a static day for the stock indexes.

"Generally speaking, any big movements will come when we start earnings season in a couple of weeks," said Drew Wilson, equity analyst with Fenimore Asset Management. "Until then, it'll be hand-to-hand combat in the indexes."

The S&P 500, Dow and Nasdaq composite started off in the green during premarket trading and remained mostly higher all day.

By the last hour of trading, the Dow Jones industrial average was on track for a record close. More than half of the 30 companies in the index rose, raising the possibility that the Dow might breach the 17,000 mark soon.

"If the economy continues to grow the way it's growing and the Federal Reserve remains as supportive as it is, I think we have more highs to achieve before the year is out," said Krishna Memani, chief investment officer at OppenheimerFunds.

All told, the S&P 500 index rose 3.39 points, or 0.2 percent, to 1,962.87. That's slightly above the prior day's record close of 1,959.48. On Wednesday, the index notched another high at 1,956.98. It has risen five out of the last six weeks.

The Dow added 25.62 points, or 0.2 percent, to 16,947.08.

The Dow's previous high was June 10, when it closed at 16,945.92.

The Nasdaq composite gained 8.71 points, or 0.2 percent, to 4,368.04. The Nasdaq is still well below its dot-com era peak of just over 5,000.

U.S. government bonds prices were little changed. The yield on the 10-year Treasury note slipped to 2.61 percent from 2.62 percent late Thursday.

The market has been mostly registering small moves, as stocks hover in record territory while questions persist over the resiliency of the U.S. economy and unrest in Iraq and elsewhere.

The Federal Reserve's remarks midweek helped nudge the market higher this week, reassuring investors that the central bank intends to continue keeping short-term interest rates low, a policy that's helped make stocks more attractive.

"It clearly was a driver that is definitely helping the market," Memani said. "The markets would have reacted even better than they have so far if the Iraq issue wasn't hanging over the market."

Absent any major geopolitical developments, investors will likely focus next week on the latest batch of housing data.

"Housing has been, as of late, a less-than-stellar horse in the recovery," Wilson said. "A lot of people will parse the housing data pretty carefully and that could move the markets."

CarMax was among the stocks driving market action Friday.

The used car dealership operator reported a 16 percent jump in first-quarter earnings. The stock gained $7.47, or 16.5 percent, to $52.75. Shares in rival AutoNation rose $2.91, or 5.1 percent, to $59.42.

A group of drugmakers also helped move the S&P 500 higher. Eli Lilly added $2.18, or 3.6 percent, to $62.03, while Alexion Pharmaceuticals rose $5.77, or 3.6 percent, to $165.46. Amgen added $3.12, or 2.6 percent, to $120.97.

Five of the 10 sectors in the S&P 500 index posted gains, led by energy stocks. Utilities fell the most.

Among the big decliners Friday was RadioShack, which plunged 10.4 percent, falling below $1 per share for the first time. The electronics retailer has struggled to turn around its business, hurt by declining revenue. The stock shed 11 cents to 92 cents.

Darden Restaurants fell after reporting a 35 percent drop in quarterly earnings. The stock slid $1.94, or 3.9 percent, to $47.58.

Oracle also had a rough day as investors reacted to disappointing earnings from the software maker late Thursday. The stock slumped $1.69, or 4 percent, to $40.82.

6445


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-9.82	points or ▼	-0.06%	on	Monday, 23 June 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,937.26	▼	-9.82	▼	-0.06%		
	Nasdaq____	4,368.68	▲	0.64	▲	0.01%		
	S&P_500___	1,962.61	▼	-0.26	▼	-0.01%		
	30_Yr_Bond____	3.45	▼	0.00	▼	-0.09%		

NYSE Volume	 2,695,851,000 	 	 	 	 	  		 
Nasdaq Volume	 1,696,511,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,800.56	▼	-24.64	▼	-0.36%		
	DAX_____	9,920.92	▼	-83.08	▼	-0.83%		
	CAC_40__	4,515.57	▼	-25.77	▼	-0.57%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,432.70	▲	31.10	▲	0.58%		
	Shanghai_Comp	2,024.37	▼	-2.31	▼	-0.11%		
	Taiwan_Weight	9,228.35	▼	-45.44	▼	-0.49%		
	Nikkei_225___	15,369.28	▲	19.86	▲	0.13%		
	Hang_Seng.__	22,804.81	▼	-389.25	▼	-1.68%		
	Strait_Times.__	3,257.40	▼	-1.40	▼	-0.04%		
	NZX_50_Index_	5,126.16	▼	-18.87	▼	-0.37%		

http://finance.yahoo.com/news/stocks-slip-below-records-fmc-202050106.html

*Stocks slip below records; FMC falls

Stocks make small losses, slipping below record levels as investors assess corporate news*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- Stocks fell for the first time in seven days, ending a run that had pushed the indexes to all-time highs, as investors assessed corporate news.

Chemical company FMC fell the most in the Standard & Poor's 500 index after cutting its earnings forecast for the second quarter due because its Agricultural Solutions unit performed worse than expected in the period. General Electric and Wisconsin Energy both dropped after announcing acquisitions.

The stock market has climbed steadily in the last two months amid signs that the economy has recovered its momentum after being disrupted by an unusually harsh winter. Stronger growth should translate into higher corporate profits.

"The market has had a good run and it needs to pause," said Peter Cardillo, chief market economist at Rockwell Global Capital.

The S&P 500 fell a fraction of a point, or less than 0.1 percent, to 1,962.61. The index closed at a record 1,962.87 on Friday. The Dow Jones industrial average dropped 9.82 points, or less than 0.1 percent, to 16,937.26. The Nasdaq composite index edged up 0.64 point, or less than 0.01 percent, to 4,368.68.

FMC dropped $3.65, or 4.9 percent, to $71.10 after the company lowered its earnings forecast for the second-quarter, saying that the impact of the cold winter had been much stronger than it had originally anticipated.

Investors were also watching deal news that produced both winners and losers.

General Electric dropped 29 cents, or 1.1 percent, to $26.68 after agreeing to acquire most of the power generation business belonging to Alstom, a French company. Wisconsin Energy fell $1.62, or 3.5 percent, to $45.27 after the company said that it was buying Integrys Energy for $5.8 billion.

Intergrys was among the winners. The company's stock jumped $7.40, or 12.1 percent, to $68.35 on the news.

Micros Systems also gained on deal news. The software company's stock rose $2.21, or 3.4 percent, to $67.98 after Oracle said it was buying the company for about $5.3 billion.

The stock market may be heading for a summer lull after its latest record-setting run, as investors wait for more confirmation that the economic outlook is improving, said Scott Wren, a senior equity strategist at Wells Fargo Advisors. The S&P 500 is up 6.2 percent for the year after trading mostly sideways for the first three months of the year.

"After the big run we've had over the past couple of months, a week or two of consolidation isn't anything out of the ordinary," said Wren.

In government bond trading, prices edged lower. The yield on the 10-year Treasury note, which moves in the opposite direction to its price, rose to 2.62 percent.

The price of oil fell 66 cents, or 0.6 percent, to $106.17 a barrel.

Among other stocks making big moves:

Lululemon rose $1.02, or 2.5 percent, to $41.25 after The Wall Street Journal reported that the company's founder was working with Goldman Sachs to shake up the yoga clothing company's board. Lululemon's stock is down 30 percent this year as the company works on improving its business since pulling one of its popular yoga pants from stores last spring because they were too sheer.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-119.13	points or ▼	-0.70%	on	Tuesday, 24 June 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,818.13	▼	-119.13	▼	-0.70%		
	Nasdaq____	4,350.36	▼	-18.32	▼	-0.42%		
	S&P_500___	1,949.98	▼	-12.63	▼	-0.64%		
	30_Yr_Bond____	3.41	▼	-0.04	▼	-1.25%		

NYSE Volume	 3,058,404,500 	 	 	 	 	  		 
Nasdaq Volume	 1,949,096,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,787.07	▼	-13.49	▼	-0.20%		
	DAX_____	9,938.08	▲	17.16	▲	0.17%		
	CAC_40__	4,518.34	▲	2.77	▲	0.06%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,415.10	▼	-17.60	▼	-0.32%		
	Shanghai_Comp	2,033.93	▲	9.57	▲	0.47%		
	Taiwan_Weight	9,246.20	▲	17.85	▲	0.19%		
	Nikkei_225___	15,376.24	▲	6.96	▲	0.05%		
	Hang_Seng.__	22,880.64	▲	75.83	▲	0.33%		
	Strait_Times.__	3,262.03	▲	4.63	▲	0.14%		
	NZX_50_Index_	5,121.21	▼	-4.96	▼	-0.10%		

http://finance.yahoo.com/news/stocks-end-lower-traders-sell-203743686.html
*
Stocks end lower as traders sell blue chips

Stocks close mostly lower as large-company stocks fall; Vertex lifts biotechnology sector*
Associated Press
By Ken Sweet, AP Markets Writer

NEW YORK (AP) -- The stock market had its biggest decline in two weeks Tuesday, led by a sell-off in blue-chip bank and energy stocks. Homebuilders rose after the government reported sales of new homes rose in May to the highest level in six years.

The late-afternoon selling came during a relatively quiet week for Wall Street. Traders said the selling might be tied to large mutual funds having to rebalance their portfolios ahead of the end of the quarter next week. Other traders pointed to the ongoing violence in Iraq as a reason to pull out of the market ahead of the end of the quarter.

The Dow Jones industrial average fell 119.13 points, or 0.7 percent, to 16,818.13. The Standard & Poor's 500 index lost 12.63 points, or 0.6 percent, to 1,949.98 and the Nasdaq composite fell 18.32 points, or 0.4 percent, to 4,350.36.

The Dow fell more than the S&P 500 and Nasdaq as investors sold large, brand-name stocks. Exxon Mobil, Boeing, American Express and JPMorgan Chase all fell 1 percent or more.

The selling in blue-chip stocks marks a recent and notable change in trader behavior. Stocks of large, diversified companies have been among the most popular with investors this year. With the quarter end and mid-year approaching, it's not uncommon for investors to sell some of the best performing names to rebalance their portfolios.

Vertex Pharmaceuticals was a bright spot in the S&P 500. The drug company soared $26.92, or 40 percent, to $93.53 after Vertex said its treatment for cystic fibrosis appeared to work better than a placebo in a late-stage study. Vertex plans to seek approval for the treatment in the U.S. and Europe.

Traders say it's a positive sign to see investors heading back into biotechnology stocks. The sector was among the hardest hit in March and April. Even with today's declines, the S&P 500 Biotechnology index rose 1.3 percent.

"That was a growth area that worried a lot of people, but the news out of Vertex is very bullish," said Ian Winer, director of stock trading at Wedbush Securities. "The news has renewed a risk appetite in that space we have not seen in months."

Micron Technology jumped $1.24, or 4 percent, to $32.50, making it the second-biggest advancer in the S&P 500. The semiconductor maker reported better-than-expected earnings and raised its forecast for the next quarter. Dow component Intel, another major chipmaker, rose 27 cents, or 0.9 percent, to $30.50.

Homebuilder stocks also did well Tuesday after the Commerce Department said sales of new homes jumped 18.6 percent in May to an annualized rate of 504,000. That's the highest level since May 2008.

International concerns remain an issue for investors as well. The United Nations said Tuesday that more than 1,000 people, mostly civilians, have been killed in Iraq so far this month, the highest death toll since the U.S. military withdrew from the country in December 2011. In the United Arab Emirates, Dubai's stock market fell 6.7 percent Tuesday and Abu Dhabi's fell 3.3 percent.

Bond prices rose as investors sought safety amid the stock market declines. The yield on the 10-year Treasury note fell to 2.58 percent from 2.63 on Monday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	49.38	points or ▲	0.29%	on	Wednesday, 25 June 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,867.51	▲	49.38	▲	0.29%		
	Nasdaq____	4,379.76	▲	29.40	▲	0.68%		
	S&P_500___	1,959.53	▲	9.55	▲	0.49%		
	30_Yr_Bond____	3.38	▼	-0.03	▼	-0.73%		

NYSE Volume	 3,093,660,500 	 	 	 	 	  		 
Nasdaq Volume	 1,694,889,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,733.62	▼	-53.45	▼	-0.79%		
	DAX_____	9,867.75	▼	-70.33	▼	-0.71%		
	CAC_40__	4,460.60	▼	-57.74	▼	-1.28%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,386.80	▼	-28.30	▼	-0.52%		
	Shanghai_Comp	2,025.50	▼	-8.43	▼	-0.41%		
	Taiwan_Weight	9,242.16	▼	-4.04	▼	-0.04%		
	Nikkei_225___	15,266.61	▼	-109.63	▼	-0.71%		
	Hang_Seng.__	22,866.70	▼	-13.94	▼	-0.06%		
	Strait_Times.__	3,261.54	▼	-0.49	▼	-0.02%		
	NZX_50_Index_	5,104.54	▼	-16.66	▼	-0.33%		

http://finance.yahoo.com/news/stocks-edge-higher-despite-economic-144425004.html

*Stocks edge higher despite economic data

Stocks edge higher despite reports that show sluggish economy; Monsanto jumps*
Associated Press
By Ken Sweet, AP Markets Writer 

NEW YORK (AP) -- The U.S. stock market inched modestly higher Wednesday, recovering more than half of what it lost the day before, as investors were able to set aside two disappointing economic reports.

CBS and other broadcasters rose after the Supreme Court ruled in favor of them over a startup Internet company in a closely watched copyright case. Monsanto rose after the agricultural company announced a big stock buyback and reported earnings that beat analysts' estimates.

"The trend for this market is still, for the time being, up," said Anastasia Amoroso, a global market strategist with J.P. Morgan Funds.

The Standard & Poor's 500 index rose 9.55 points, or 0.5 percent, to 1,959.53. The index fell roughly 13 points the day before. The Nasdaq composite rose 29.40 points, or 0.7 percent, to 4,379.76 and the Dow Jones industrial average rose 49.38 points, or 0.3 percent, to 16,867.51.

Consumer discretionary stocks were among the biggest advancers, a sector that includes broadcasters and other media companies. The U.S. Supreme Court ruled Aereo would have to pay broadcast companies when it takes television programs from the airwaves and allows subscribers to watch them on smartphones and other portable devices.

It was a major win for the broadcast industry, which had argued that Aereo should have to pay for programming the same way cable and satellite providers have to.

CBS rose $3.64, or 6 percent, to $62.48 and Walt Disney, which owns ABC, rose $1.22, or 1.5 percent, to $83.90. TV station owners also rose. Sinclair Broadcasting jumped $4.56, or 16 percent, to $33.80.

Investors weren't fazed by two negative economic reports released Wednesday.

In a revised estimate, the Commerce Department said the U.S. economy shrank at annual rate of 2.9 percent in the first three months of the year. Two-thirds of the downward revision reflected a decline in health care spending. The Commerce Department also said orders for long-lasting goods sank 1 percent in May as demand for military equipment fell sharply.

"GDP for the first quarter was not bad, it was horrible," said Doug Cote and Karyn Cavanaugh of Voya Investment Management, in a note to investors.

Investors said the GDP report didn't tell them anything they already knew. Many have already attributed weakness in the U.S. during the first three months of the year to unusually harsh winter weather.

"We need to be looking toward earnings season next month, not at a report from three months ago," JPMorgan's Amoroso said.

Government bond prices rose. The yield on the 10-year U.S. Treasury note, which falls when prices rise, dropped to 2.56 percent from 2.58 percent late Tuesday.

Pioneer Natural Resources and Enterprise Products rose after The Wall Street Journal reported that the U.S. government was loosening a longstanding ban by letting those two companies sell a certain kind of unrefined American oil internationally. The newspaper said the Obama administration would allow foreign buyers to purchase a type of ultralight oil known as condensate, which can be turned into gasoline, jet fuel and diesel.

Pioneer rose $11.42, or 5 percent, to $233.07 and Enterprise rose $1.03, or 1.4 percent, to $77.14.

In other company news:

”” Monsanto's earnings fell more than 5 percent but its overall results still beat analysts' estimates. The company, which sells corn and soybean seeds, also announced plans to spend up to $10 billion on buying its own stock. Monsanto rose $6.10 to $126.73.

”” Barnes & Noble rose $1.09, or 5 percent, to $21.65 after the bookseller said it would split into two publicly traded companies, one focused on retail bookselling and one on its Nook Media business, which sells electronic reading devices.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-21.38	points or ▼	-0.13%	on	Thursday, 26 June 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,846.13	▼	-21.38	▼	-0.13%		
	Nasdaq____	4,379.05	▼	-0.71	▼	-0.02%		
	S&P_500___	1,957.22	▼	-2.31	▼	-0.12%		
	30_Yr_Bond____	3.34	▼	-0.04	▼	-1.09%		

NYSE Volume	 2,774,919,250 	 	 	 	 	  		 
Nasdaq Volume	 1,536,830,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,735.12	▲	1.50	▲	0.02%		
	DAX_____	9,804.90	▼	-62.85	▼	-0.64%		
	CAC_40__	4,439.63	▼	-20.97	▼	-0.47%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,446.80	▲	60.00	▲	1.11%		
	Shanghai_Comp	2,038.68	▲	13.18	▲	0.65%		
	Taiwan_Weight	9,320.94	▲	78.78	▲	0.85%		
	Nikkei_225___	15,308.49	▲	41.88	▲	0.27%		
	Hang_Seng.__	23,197.83	▲	331.13	▲	1.45%		
	Strait_Times.__	3,278.57	▲	17.03	▲	0.52%		
	NZX_50_Index_	5,130.15	▲	25.61	▲	0.50%		

http://finance.yahoo.com/news/stocks-head-lower-wall-street-142427460.html

*Stocks head lower on Wall Street, led by banks

Financial firms lead stock market to slight loss; Morgan Stanley and Citigroup sink*
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Banks and other financial firms tugged the stock market slightly lower Thursday as a mixed batch of economic reports and earnings results gave investors little reason to push the market up.

Barclays sank following news that New York's attorney general sued the British bank, claiming that it favored high-frequency traders over large institutions in its private-trading platform, known as a "dark pool."

It was only the third loss in 10 trading days for the Standard & Poor's 500 index, which closed at its latest record high just under a week ago, on June 20. Many investors have been saying stocks could be due for a pullback given their rapid rise recently.

Phil Orlando, chief equity strategist at Federated Investors, said a short slump in the summer months wouldn't come as a surprise. "I fully expect to see a hiccup here, but I wouldn't get too worried about it," he said. "It's probably going to set us up for a nice end-of-the-year rally."

The Standard & Poor's 500 index sank 2.31 points, or 0.1 percent, to close at 1,957.22, while the Nasdaq composite index fell 0.71 of a point to 4,379.05.

The Dow Jones industrial average lost 21.38 points, or 0.1 percent, to close at 16,846.13.

Two economic reports out early Thursday offered little encouragement. In one, the government said the number of Americans seeking unemployment benefits declined last week, another sign that an economic slowdown earlier this year hasn't caused employers to shed workers. In a separate report, the government said consumer spending inched up 0.2 percent last month, half the increase that economists had predicted.

Among the stocks making big moves, Bed Bath & Beyond sank 7 percent, the biggest loss in the S&P 500, after the retailer posted quarterly earnings and sales late Wednesday that fell short of analysts' estimates. The store's stock dropped $4.41 to $56.70.

GoPro jumped 31 percent in its stock-market debut. The company, whose cameras get strapped to the heads of skydivers, extreme skiers and surfers, raised $427 million in its initial public offering Thursday. GoPro soared $7.34 to $31.34 in its first day of trading on the Nasdaq stock market.

With one trading day left in the week, the S&P 500 is on track for its second weekly loss this month. That shouldn't worry anyone, said Randy Frederick, managing director of active trading and derivatives at the Charles Schwab Center for Financial Research. As the stock market set a series of all-time highs this spring, more traders began laying bets in the options market that the market would take a fall, if only for technical reasons. Markets can only go so far in one direction.

"There's nothing to get panicked about," Frederick said. "We haven't had a real pullback in a while. And when we have one, they turn out to be buying opportunities. This time is no different."

In the market for government bonds, the yield on the 10-year Treasury note dropped to 2.52 percent from 2.56 percent late Wednesday. Bond yields fall when prices rise.

Among companies in the news:

— Barclays' U.S.-listed shares fell $1.16, or 7 percent, to $14.55. Other banks that operate private-trading platforms also fell. Morgan Stanley and Citigroup each fell more than 1 percent.

— Alcoa plans to acquire Firth Rixson, a British maker of jet-engine parts, for $2.9 billion, as the company continues to shift away from its aluminum-smelting roots. Alcoa's stock rose 39 cents, or 3 percent, to $14.94.

— Iron Mountain soared $5.97, or 20 percent, to $35.74 after the information storage and management company said it is moving ahead with its conversion to a real estate investment trust, which could reduce taxes and increase returns for stockholders.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	5.71	points or ▲	0.03%	on	Friday, 27 June 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,851.84	▲	5.71	▲	0.03%		
	Nasdaq____	4,397.93	▲	18.88	▲	0.43%		
	S&P_500___	1,960.96	▲	3.74	▲	0.19%		
	30_Yr_Bond____	3.37	▲	0.02	▲	0.63%		

NYSE Volume	 4,204,348,000 	 	 	 	 	  		 
Nasdaq Volume	 3,788,920,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,757.77	▲	22.65	▲	0.34%		
	DAX_____	9,815.17	▲	10.27	▲	0.10%		
	CAC_40__	4,436.99	▼	-2.64	▼	-0.06%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,429.10	▼	-17.70	▼	-0.32%		
	Shanghai_Comp	2,036.51	▼	-2.17	▼	-0.11%		
	Taiwan_Weight	9,306.83	▼	-14.11	▼	-0.15%		
	Nikkei_225___	15,095.00	▼	-213.49	▼	-1.39%		
	Hang_Seng.__	23,221.52	▲	23.69	▲	0.10%		
	Strait_Times.__	3,271.05	▼	-7.52	▼	-0.23%		
	NZX_50_Index_	5,144.25	▲	14.09	▲	0.27%		

http://finance.yahoo.com/news/stocks-notch-tiny-gains-still-204404337.html

*Stocks notch tiny gains, but still end week lower

Stock manage slight gains but still end the week slightly lower; DuPont drops on outlook*
Associated Press
By Matthew Craft, AP Business Writer 

NEW YORK (AP) -- Summertime settled into Wall Street on Friday as major stock indexes drifted slightly higher going into the weekend. The listless day of trading left the stock market with a tiny loss for the week, its second this month.

A handful of corporate results drove trading in some big names. Warnings of weaker earnings pushed DuPont down, while stronger results pushed Nike up. But the overall market was essentially flat.

"The fact is, it's the summer, and there isn't much happening," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago.

That could change quickly. Turmoil in the Middle East could easily rattle U.S. markets, especially if the fighting in Iraq drives oil prices too high, Ablin said. Rising tensions between Ukraine and Russia also remain a concern.

"The risk in the summer typically isn't financial, it's political," he said. "This summer it's geopolitical: Iraq and Ukraine."

The Standard & Poor's 500 index edged up 3.74 points, or 0.2 percent, to close at 1,960.96. The most widely used benchmark for stock funds lost 1.91 points for the week, a loss of 0.1 percent.

The Dow Jones industrial average rose 5.71 points, less than 0.1 percent, to close at 16,851.84, while the Nasdaq composite rose 18.88 points, or 0.4 percent, to 4,397.93.

Many investors have been waiting for the market to take a break from its long climb. The S&P 500 has gained 5.8 percent in three months and reached its latest all-time high on June 20, one week ago.

In Friday trading, Micheals Companies made a minor gain in its return to the stock market. Bain Capital and the Blackstone Group, two private equity firms, bought the operator of arts and crafts stores in 2006 and returned it to investors in a $472 million initial public offering. Much of the money raised in the IPO will be used to pay down debt. The company's stock rose 2 cents to $17.02, just two cents above its IPO price.

DuPont dropped $2.26, or 3 percent, to $65.44. The company cut its profit forecast late Thursday as a result of weaker sales of corn seeds.

Nike gained 82 cents, or 1 percent, to $77.68 after reporting earnings late Thursday that beat Wall Street's expectations. Stronger worldwide sales offset marketing costs for the World Cup soccer tournament. Nike provided the outfits for 10 national teams, including Team USA, for the World Cup in Brazil.

Bond prices were little changed. The yield on the 10-year Treasury note held steady at 2.53 percent. The price of oil fell 10 cents to settle at $105.74 a barrel.

6988


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-25.24	points or ▼	-0.15%	on	Monday, 30 June 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,826.60	▼	-25.24	▼	-0.15%		
	Nasdaq____	4,408.18	▲	10.25	▲	0.23%		
	S&P_500___	1,960.23	▼	-0.73	▼	-0.04%		
	30_Yr_Bond____	3.34	▼	-0.03	▼	-0.80%		

NYSE Volume	 3,004,860,250 	 	 	 	 	  		 
Nasdaq Volume	 1,829,511,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,743.94	▼	-13.83	▼	-0.20%		
	DAX_____	9,833.07	▲	17.90	▲	0.18%		
	CAC_40__	4,422.84	▼	-14.15	▼	-0.32%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,382.00	▼	-47.10	▼	-0.87%		
	Shanghai_Comp	2,048.33	▲	11.92	▲	0.59%		
	Taiwan_Weight	9,393.07	▲	86.24	▲	0.93%		
	Nikkei_225___	15,162.10	▲	67.10	▲	0.44%		
	Hang_Seng.__	23,190.72	▼	-30.80	▼	-0.13%		
	Strait_Times.__	3,255.67	▼	-15.38	▼	-0.47%		
	NZX_50_Index_	5,141.48	▼	-2.77	▼	-0.05%		

http://finance.yahoo.com/news/stocks-end-mixed-p-closes-204326533.html

*Stocks end mixed; S&P closes near all-time high

Stocks end mixed; S&P 500 gains in the second-quarter, ending period close to all-time high*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The stock market closed out the second quarter regaining its upward momentum as investors were encouraged by an improving economy.

Stocks have resumed their upward trajectory after getting off to their worst start in five years in the first quarter. Investors sold stocks in January as they worried about the impact of an unusually harsh winter on the economy. The dangers of the intensifying conflict between Russia and the Ukraine also weighed on the markets.

By contrast, there were fewer worries in the second quarter.

As the weather improved, there was more encouraging news about hiring and manufacturing. Stocks were also propelled higher by a turnaround in some of the riskier parts of the market. Internet, biotechnology and small-company stocks all rebounded after dragging the market lower in March.

Company earnings, already at record levels, continued to grind higher. Even an escalating conflict in Iraq that pushed up oil prices in June wasn't enough to stop stocks from rising.

"I'm not seeing anything that's going to derail the overall upward climb of the market," said Karyn Cavanaugh, senior market strategist with Voya Investment Management. "The economic backdrop is getting better, so companies will make even more money."

The Standard & Poor's 500 index fell 0.73 points on Monday, less than 0.1 percent, to 1,960.23, just two points from its record close of 1,962.87 set June 20. The index rose 4.7 percent in the quarter and closed at an all-time high on 16 occasions during in the period.

The Dow Jones industrial average fell 25.24 points, or 0.2 percent, to 16,826.60 and posted a gain of 2.4 percent in the quarter. The Nasdaq composite rose 10.25 points, or 0.2 percent, to 4,408.18, rising 5 percent in the quarter.

Stocks flickered between small gains and losses on Monday, keeping major indexes close to record levels, as investors assessed the latest data on housing.

Home builders rose following news that the number of Americans who signed contracts to buy homes shot up in May. The National Association of Realtors said its seasonally adjusted pending home sales index rose 6.1 percent to 103.9 last month. It was the sharpest month-over-month gain since April 2010.

Gains for home builders were led by D.R. Horton, which rose 75 cents, or 3.1 percent, to $24.58.

Utility stocks also did well. The sector rose 0.8 percent, making it the biggest gainer of the 10 industry sectors that make up the S&P 500 industry.

The group has climbed 16.4 percent this year as bond yields have fallen, forcing investors to look elsewhere for income. Power company stocks are regarded as a steady investment and they also pay rich dividends.

General Motor was among the day's losers.

Trading in the automaker's stock was briefly suspended in the afternoon after the company announced that it was recalling at least 7.6 million more vehicles dating back to 1997 to fix faulty ignition switches.

Perhaps the biggest surprise for investors in the second quarter was a strong rally in government bonds.

At the start of the year, most analysts and investors had expected bond yields to rise as the Federal Reserve gradually cut back on its economic stimulus and wound down its bond-buying program and the economy improved.

Instead, the opposite has happened. Bonds have rallied, pushing yields lower. Bonds have gained as inflation stayed low and as some investors remained skeptical about the long-term strength of the economy.

The yield on the 10-year Treasury note, which falls as bond prices rise, dropped to 2.52 percent on Monday from 2.54 percent on Friday. It had started the year at 3 percent.

"I'm surprised by the behavior of the bond market over the last six months," said Joe Hieder, a regional managing principal at Rehmann Financial, a wealth adviser. "But with continued low interest rates, it is a benefit to everyone potentially except the retirees that are living on fixed income."

Low interest rates should encourage companies to borrow and invest and help support the housing market.

Among other individual stocks making big moves on Monday:

”” Pittsburgh-based PPG Industries announced plans to buy Mexico's Consorcio Comex for $2.3 billion. The maker of paints wants to bolster its business in Mexico and Central America. PPG Industries rose $6.10, or 3 percent, to $210.15.

”” MannKind, a bio pharmaceutical company, jumped 96 cents, or 9.6 percent, to $10.96 after the Food and Drug Administration on Friday approved Afrezza, a diabetes medication to help patients control their blood sugar levels during meals.

”” Allergan fell after the company updated investors on the status of some of the key drugs that it is developing. The drug maker said the FDA had raised issues about a drug that is being developed as treatment of migraines in adults. The stock dropped $4.73, or 2.7 percent, to $169.20.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	129.47	points or ▲	0.77%	on	Tuesday, 1 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,956.07	▲	129.47	▲	0.77%		
	Nasdaq____	4,458.65	▲	50.47	▲	1.14%		
	S&P_500___	1,973.32	▲	13.09	▲	0.67%		
	30_Yr_Bond____	3.39	▲	0.06	▲	1.71%		

NYSE Volume	 3,146,552,250 	 	 	 	 	  		 
Nasdaq Volume	 1,926,902,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,802.92	▲	58.98	▲	0.87%		
	DAX_____	9,902.41	▲	69.34	▲	0.71%		
	CAC_40__	4,461.12	▲	38.28	▲	0.87%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,366.50	▼	-15.50	▼	-0.29%		
	Shanghai_Comp	2,050.38	▲	2.05	▲	0.10%		
	Taiwan_Weight	9,441.92	▲	48.85	▲	0.52%		
	Nikkei_225___	15,326.20	▲	164.10	▲	1.08%		
	Hang_Seng.__	23,190.72	▼	-30.80	▼	-0.13%		
	Strait_Times.__	3,242.64	▼	-13.03	▼	-0.40%		
	NZX_50_Index_	5,146.26	▲	4.79	▲	0.09%		

http://finance.yahoo.com/news/stocks-rise-surveys-show-stronger-142019710.html

*Stocks rise as surveys show stronger manufacturing

Stocks climb to record levels as manufacturing expands in the US and China; Dow nears 17,000*
Associated Press
By Steve Rothwell, AP Markets Writer 

NEW YORK (AP) -- A better outlook for global manufacturing pushed the stock market to an all-time high on Tuesday.

The Dow Jones industrial average climbed within two points of 17,000 for the first time after separate surveys showed that manufacturing expanded in China and the U.S., the world's two biggest economies. In China, manufacturing grew in June for the first time in six months and in the U.S. the sector notched its 13th straight month of growth.

General Motors rose the most in almost a month. The automaker reported that its U.S. sales increased 1 percent in June despite a record-setting string of safety recalls. Netflix jumped after analysts at Goldman Sachs raised their outlook on the stock, predicting the company will benefit from its international expansion.

"The economic news, by and large, isn't bad here," said Phil Orlando, chief equity strategist at Federated Investors. "Maybe investors are starting to think that this thing is going to grind higher."

The Standard & Poor's 500 index rose 13.09 points, or 0.7 percent, to 1,973.32. The Dow gained 129.47 points, or 0.8 percent, to 16,956.07. The index climbed as high as 16,998.70 in early afternoon trading before falling back slightly. Both indexes closed at all-time highs.

The Nasdaq composite rose 50.47, or 1.1 percent, to 4,458.65.

Stocks climbed from the open after HSBC said its Chinese purchasing managers index rose to 50.7 in June from 49.4 a month earlier. Numbers above 50 signal growth. The market added to its gains after another survey showed that U.S. manufacturing kept growing.

The gains were broad. Nine of the 10 industry sectors that make up the S&P 500 rose. Utilities were the only sector to fall.

Health care stocks had the biggest advance with gains led by Regeneron. The company rose $19.53, or 7 percent, to $301.94 after French drugmaker Sanofi said in a regulatory filing that it had raised its stake in Regeneron.

The S&P 500 index has now gained 6.8 percent this year, after jumping almost 30 percent in 2013. While stocks are no longer cheap, they are still a compelling investment compared with bonds or cash because interest rates are close to zero, said Joe Tanious, a global market strategist at JPMorgan Funds.

"In the long run market prices are dictated by the fundamentals," said Tanious. "And the underlying fundamentals suggest that markets can move higher from here."

Government bonds prices fell. The yield on the 10-year Treasury note climbed to 2.56 percent from 2.53 percent late Monday. Bond prices have risen this year, pushing interest rates lower, even as the Federal Reserve has reduced its economic stimulus and the economy has improved.

Among other stocks making big moves:

”” Netflix jumped $32.50, or 7.4 percent, to $473.10 after analysts at Goldman Sachs raised their outlook for the streaming video company. Goldman estimates that Netflix's potential audience of subscribers will double over the next three years as the company expands internationally.

”” Twitter rose $1.08, or 2.6 percent, to $42.05 after analysts at Stern Agee raised their estimates for the company's earnings for next year and said that the social media company should benefit from increased use during the World Cup. The company also said today that it was hiring Anthony Noto, a Goldman Sachs executive, as its new chief financial officer.

”” GM gained $1.29, or 3.6 percent, to $37.59 after reporting its June sales figures. Its sales gains were led by the Buick Encore small SUV, which gained 82 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	20.17	points or ▲	0.12%	on	Wednesday, 2 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,976.24	▲	20.17	▲	0.12%		
	Nasdaq____	4,457.73	▼	-0.92	▼	-0.02%		
	S&P_500___	1,974.62	▲	1.30	▲	0.07%		
	30_Yr_Bond____	3.47	▲	0.07	▲	2.09%		

NYSE Volume	 2,832,677,500 	 	 	 	 	  		 
Nasdaq Volume	 1,585,262,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,816.37	▲	13.45	▲	0.20%		
	DAX_____	9,911.27	▲	8.86	▲	0.09%		
	CAC_40__	4,444.72	▼	-16.40	▼	-0.37%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,441.70	▲	75.20	▲	1.40%		
	Shanghai_Comp	2,059.42	▲	9.04	▲	0.44%		
	Taiwan_Weight	9,484.96	▲	43.04	▲	0.46%		
	Nikkei_225___	15,369.97	▲	43.77	▲	0.29%		
	Hang_Seng.__	23,549.62	▲	358.90	▲	1.55%		
	Strait_Times.__	3,263.91	▲	21.27	▲	0.66%		
	NZX_50_Index_	5,149.38	▲	3.12	▲	0.06%		

http://finance.yahoo.com/news/stocks-close-time-highs-hiring-203058216.html

*Stocks close at all-time highs as hiring surges

Stocks close at record after business hiring surges in June; Constellation gains on earnings*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- Stocks closed at their latest all-time highs Wednesday following news that business hiring surged in June, adding to evidence that the U.S. economy is picking up momentum.

ADP, a payroll processer, said businesses added 281,000 jobs last month, up from 179,000 in the previous month. The figure suggests the government's monthly jobs report, due out Thursday, could also show a significant gain from May.

The stock market climbed back to record levels a day earlier after separate reports showed that manufacturing expanded in China and the U.S., the world's two largest economies.

"We're in the middle of what's been an extended recovery, but there's still a lot of room to go," said Ed Hyland, a global investment specialist at a JPMorgan Private Bank. "We believe that for the stock market as well."

The Standard & Poor's 500 index rose 1.30 points, or 0.1 percent, to 1,974.62. The Dow Jones industrial average gained 20.17 points, or 0.1 percent, to 16,976.24. Both the S&P 500 and the Dow are at all-time highs. The Nasdaq composite fell one point, less than 0.1 percent, to 4,457.73.

Constellation Brands, which makes Corona and Negra Modelo beer, was one of the day's biggest gainers. The stock jumped $2.07, or 2.3 percent, to $90.45 after the company said its fiscal first-quarter net income soared. .

Delta Air Lines was the day's biggest decliner. The stock dropped $2.07, or 5.1 percent, to $38.24 after the company said that growth in a key revenue figure slowed in June. Delta said revenue per passenger fell on international routes because of a dip in business travel to Latin America during the World Cup soccer tournament and more passenger-carrying capacity among all airlines. Delta's stock is still up 38 percent this year.

Government bond prices fell. The yield on the 10-year Treasury note rose to 2.62 percent from 2.57 percent on Tuesday. The yield on the note, which rises as prices fall, has climbed from 2.45 percent at the end of May as signs have emerged that the economy is strengthening.

The impact of rising bond yields was also felt in the stock market.

Utilities fell the most of the 10 sectors that make up the S&P 500, declining almost 2 percent. Investors had bought utility stocks at the start of the year as bond yields dropped because they pay rich dividends.

Should the economy continue to improve and bond yields rise, investors will likely start to take money from the bond market and instead invest in stocks, said Jeff Knight, head of global asset allocation at Columbia Management, an asset manager. Stocks that should benefit most from an improving economy, such as industrials, should do well.

"Those sectors that tend to be thought of in yield and income terms, like utilities or telecoms, would be laggards," said Knight.

Among other stocks making big moves on Wednesday:

”” Rackspace Hosting, a provider of data-storage and other services, jumped $2.13, or 6.3 percent, to $35.88 on reports that the company wants to go private, allowing it to focus on its business without have to worry about public accountability.

”” Monsanto rose $2.23, or 1.8 percent, to $126.53 after the company said late Tuesday that it had entered into an "accelerated share repurchase" agreement with JPMorgan and Goldman Sachs. Under the terms of the agreement the company will buy $6 billion of its own stock.

”” Bank of America rose 25 cents, or 1.6 percent, to $15.85 after analysts at Deutsche Bank raised their rating on the stock, saying that many of the potential negatives have already been identified and priced in. Bond trading should pick up after a slump and more merger activity should also boost fees, the analysts said.


----------



## bigdog

Source: http://finance.yahoo.com 

*U.S. markets will be closed Friday for the Fourth of July holiday. U.S. stock trading will reopen Monday*.

 *The NYSE DOW closed  	HIGHER ▲	92.02	points or ▲	0.54%	on	Thursday, 3 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,068.26	▲	92.02	▲	0.54%		
	Nasdaq____	4,485.93	▲	28.19	▲	0.63%		
	S&P_500___	1,985.44	▲	10.82	▲	0.55%		
	30_Yr_Bond____	3.48	▲	0.02	▲	0.49%		

NYSE Volume	 1,994,949,880 	 	 	 	 	  		 
Nasdaq Volume	 993,784,190 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,865.21	▲	48.84	▲	0.72%		
	DAX_____	10,029.43	▲	118.16	▲	1.19%		
	CAC_40__	4,489.88	▲	45.16	▲	1.02%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,479.50	▲	37.80	▲	0.69%		
	Shanghai_Comp	2,063.23	▲	3.81	▲	0.19%		
	Taiwan_Weight	9,526.23	▲	41.27	▲	0.44%		
	Nikkei_225___	15,348.29	▼	-21.68	▼	-0.14%		
	Hang_Seng.__	23,531.44	▼	-18.18	▼	-0.08%		
	Strait_Times.__	3,273.15	▲	9.24	▲	0.28%		
	NZX_50_Index_	5,167.39	▲	18.01	▲	0.35%		

http://finance.yahoo.com/news/dow-t...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Dow tops 17,000 after strong jobs report

Dow tops 17,000 for first time after government says hiring picked up speed last month*
Associated Press
By Ken Sweet, AP Markets Writer 

NEW YORK (AP) -- The Dow Jones industrial average topped 17,000 for the first time Thursday, the index's first big 1,000-point milestone this year, following news that hiring in the U.S. accelerated last month.

The market rose from the start of trading after the government reported that U.S. employers hired more employees than investors and economists expected. Trading was extremely light, though, and the market closed early ahead of the Fourth of July holiday.

Thursday's gains add to what has been a strong month-and-a-half for Wall Street. Along with the Dow closing above a record 17,000, the Standard & Poor's 500 index is approaching its own milestone of 2,000. The indexes have risen as a stream of good news on jobs and manufacturing bolsters investor confidence.

"Right now the story is onward and upward," said Neil Massa, senior trader at John Hancock Asset Management.

The Dow rose 92.02 points, or 0.5 percent, to finish at 17,068.26, an all-time high. The S&P 500 closed up 10.82 points, or 0.6 percent, to 1,985.44 and the Nasdaq composite gained 28.19 points, or 0.6 percent, to 4,485.93.

Investors were encouraged by the latest jobs report from the Department of Labor, which showed U.S. employers added 288,000 workers to their payrolls in June, far more than forecast. The unemployment rate fell to 6.1 percent. The government also said employers hired more people in previous months than reported earlier: 217,000 in May and 304,000 in April. The U.S. economy is now creating around 231,000 jobs each month in 2014, compared to roughly 194,000 a month last year.

"It topped even some of the most optimistic of forecasts," Massa said.

The jobs report is the latest piece of data to show the U.S. economy continues to improve steadily. On Wednesday, the payroll processor ADP said private businesses added 281,000 jobs in June, up from 179,000 in May. Also this week, the Institute for Supply Management said the U.S. manufacturing expanded for the 13th consecutive month.

While the Dow's passing of 17,000 is a notable milestone, most Wall Street professionals don't focus on it. The vast majority of mutual funds and investors use the broader S&P 500 index as their benchmark for how they are performing. In fact, the Dow has lagged behind the rest of the stock market this year. The index is up 3 percent in 2014 compared with the S&P 500's rise of 7.4 percent.

"That said, investors should be feeling good about Dow 17,000," Scott Wren, a senior equity strategist with Wells Fargo Advisors, wrote in a note to investors. "The stock market has more than recovered from levels seen during the financial crisis more than five years ago. Slow and steady can win the race; and it has."

The Dow's latest milestone is another reminder of its bull market run. The index has climbed more than 10,500 points since its Great Recession low of 6,547.05 on March 9, 2009.

Among individual stocks, the pet supply chain PetSmart rose the most in the S&P 500 on Thursday. PetSmart gained $7.48, or 13 percent, to $67.28 after the activist investor firm Jana Partners disclosed a 9.9 percent stake in the company.

Investors sold bonds after the strong jobs report. The yield on the 10-year Treasury note rose to 2.64 percent from 2.63 percent late Wednesday. Bond yields rise when prices fall.

Thursday was the slowest trading day of the year for stocks. Roughly 1.9 billion shares changed hands on the New York Stock Exchange.

U.S. markets will be closed Friday for the Fourth of July holiday. U.S. stock trading will reopen Monday.


----------



## bigdog

Source: http://finance.yahoo.com 

* U.S. stock trading will reopen Monday*

 *The NYSE DOW closed  	HIGHER ▲	92.02	points or ▲	0.54%	on	Thursday, 3 July 2014 - CLOSED JULY 4 FOR the Fourth of July holiday. 	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,068.26	▲	92.02	▲	0.54% CLOSED FOR HOLIDAY		
	Nasdaq____	4,485.93	▲	28.19	▲	0.63% CLOSED FOR HOLIDAY		
	S&P_500___	1,985.44	▲	10.82	▲	0.55% CLOSED FOR HOLIDAY		
	30_Yr_Bond____	3.48	▲	0.02	▲	0.49% CLOSED FOR HOLIDAY		

NYSE Volume	 1,994,949,880 	 	 	 	 	  		 
Nasdaq Volume	 993,784,190 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,866.05	▲	0.84	▲	0.01%		
	DAX_____	10,009.08	▼	-20.35	▼	-0.20%		
	CAC_40__	4,468.98	▼	-20.90	▼	-0.47%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,511.80	▲	32.30	▲	0.59%		
	Shanghai_Comp	2,059.37	▼	-3.85	▼	-0.19%		
	Taiwan_Weight	9,510.05	▼	-16.18	▼	-0.17%		
	Nikkei_225___	15,437.13	▲	88.84	▲	0.58%		
	Hang_Seng.__	23,546.36	▲	14.92	▲	0.06%		
	Strait_Times.__	3,272.25	▼	-0.90	▼	-0.03%		
	NZX_50_Index_	5,188.90	▲	21.51	▲	0.42%		

http://finance.yahoo.com/news/markets-lackluster-us-independence-day-131250259.html

*Markets lackluster on US Independence Day

Following earlier gains in Asia, European markets flat on US Independence Day*
Associated Press
By The Associated Press 

LONDON (AP) -- Following gains on Friday in Asia, where investors cheered a strong U.S. jobs report from the previous day, markets in Europe were lackluster as Wall Street remained closed for the Fourth of July holiday.

On Thursday, markets were buoyed by news that the U.S. economy generated a greater than expected 288,000 jobs in June. Though that increase in itself prompted some analysts to think the Federal Reserve may start raising interest rates sooner than anticipated, many noted that subdued wages may hold the central bank's hand for a while longer — a potentially positive backdrop for stock markets.

Trading volumes were low on Friday, however, due to the U.S. holiday. Many investors in France and Germany likely also kept to the sidelines to turn their attention to the World Cup match between their countries later in the afternoon.

"America's celebration of its independence brings with it the usual quiet day in London, while French and German traders will have been forgiven for long since closing their books and choosing a comfortable spot for a tense start to the weekend," said Will Hedden of IG.

Following gains around the world Thursday following the data that saw the Dow Jones index break 17,000 for the first time, Asian shares got a lift Friday.

Among the main indexes, the Nikkei 225 average, the benchmark for the Tokyo Stock Exchange, gained 0.6 percent to finish at 15,437.13 while Hong Kong's Hang Seng added 0.1 percent to 23,546.36.

In Europe, the mood was flatter with the FTSE 100 index of leading British shares closing flat at 6,866.05 and Germany's DAX shedding 0.2 percent to 10,009.08. The CAC-40 in France fell 0.5 percent to 4,468.98.

The market tone was equally subdued elsewhere with the euro 0.1 percent lower at $1.3599 and the dollar 0.1 percent down at 102.07 yen.

8059


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-44.05	points or ▼	-0.26%	on	Monday, 7 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,024.21	▼	-44.05	▼	-0.26%		
	Nasdaq____	4,451.53	▼	-34.40	▼	-0.77%		
	S&P_500___	1,977.65	▼	-7.79	▼	-0.39%		
	30_Yr_Bond____	3.44	▼	-0.04	▼	-1.23%		

NYSE Volume	 2,656,650,750 	 	 	 	 	  		 
Nasdaq Volume	 1,647,490,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,823.51	▼	-42.54	▼	-0.62%		
	DAX_____	9,906.07	▼	-103.01	▼	-1.03%		
	CAC_40__	4,405.76	▼	-63.22	▼	-1.41%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,506.30	▼	-5.50	▼	-0.10%		
	Shanghai_Comp	2,059.93	▲	0.55	▲	0.03%		
	Taiwan_Weight	9,520.20	▲	10.15	▲	0.11%		
	Nikkei_225___	15,379.44	▼	-57.69	▼	-0.37%		
	Hang_Seng.__	23,540.92	▼	-5.44	▼	-0.02%		
	Strait_Times.__	3,291.57	▲	19.32	▲	0.59%		
	NZX_50_Index_	5,186.36	▼	-2.54	▼	-0.05%		

http://finance.yahoo.com/news/stocks-slip-pulling-dow-back-160607730.html

*Stocks slip, pulling Dow back near 17,000

Stocks pull back, bringing the Dow Jones industrial average back near 17,000; Airlines fall*
Associated Press
By Ken Sweet, AP Markets Writer 

NEW YORK (AP) -- After pushing stocks to records last week, investors turned cautious on Monday ahead of a batch of corporate earnings reports.

The Dow Jones industrial average ended almost 50 points lower after closing above 17,000 for the first time last week. Investors moved money into stocks traditionally thought of as safer than the broader market: utilities, telecommunication companies and consumer staples such as soft drinks and detergent.

Stocks that depend the most on a growing economy were among the biggest decliners, including small companies, consumer discretionary names, materials and industrial stocks.

"All eyes have turned to earnings," said Joe Tanious, global market strategist with J.P. Morgan Funds.

There's a lot riding on this quarter's earnings season. Investors largely believe the weather had an unusually large impact on the U.S. economy in the first three months of year, and that economic activity rebounded in the second three months of this year. Many companies blamed the weather for their disappointing first quarter results.

Secondly, stocks are trading at all-time highs and investors will need Corporate America to deliver on profits in order to justify these record-high prices.

"As we've emphasized in recent weeks, stocks are not cheap, but we believe they can climb modestly higher in the second half (of the year) amid continued economic improvement," said Russ Koesterich, global chief investment strategist at BlackRock, in a note to investors.

The Dow Jones industrial average lost 44.05 points, or 0.3 percent, to 17,024.21. The Standard & Poor's 500 index lost 7.79 points, or 0.4 percent, to 1,977.65 and the Nasdaq composite fell 34.40 points, or 0.8 percent, to 4,451.53.

The Dow reached a record and a new 1,000-point milestone last Thursday by closing above 17,000 for the first time. That followed a strong U.S. jobs report. U.S. markets were closed Friday for the Independence Day holiday.

The Russell 2000 index, which is made up primarily of small-company stocks, fell more than the rest of the market. The index lost 1.7 percent, versus the 0.4 percent decline in the S&P 500, which is made up of large companies.

Another sign that investors were hesitant to place big bets ahead of corporate earnings reports could be seen in Monday's low trading volume. Roughly 2.6 billion shares traded hands on the New York Stock Exchange, well below the 3.2 billion shares that moves on an average trading day.

Aluminum mining giant Alcoa reports its latest results on Tuesday and Wells Fargo, the No. 1 U.S. mortgage lender, reports on Friday. Investors are expecting second quarter profits to be up 4.9 percent from a year ago, according to FactSet.

"I think we're going to exceed expectations," Tanious said. "Companies were able to post 6 percent earnings growth in the first quarter, even with the U.S. economy contracting. Now that we've seen a rebound in economic activity, I think we're looking at a pretty good earnings season."

Major airlines stocks fell after the Transportation Security Administration announced new security measures that would impact international flights into the United States. The TSA said that all electronic devices would need to have power in order to travel, including tablet computers and cell phones, which could impact the number of passengers able to travel.

United Continental fell $1.26, or 3 percent, to $38.62, Delta fell $1.70, or 4.5 percent, to $36.90 and American Airlines fell $1.52, or 4 percent, to $40.10. Domestic U.S. airlines fell as well, but the declines were tamer. JetBlue fell 27 cents, or 2.5 percent, to $10.62 and Southwest fell 54 cents, or 2 percent, to $27.17.

Investors also tried to reduce their exposure to risk by buying U.S. government bonds. The yield on the U.S. 10-year note fell to 2.62 percent from 2.64 percent late Thursday.

In other company news:

”” Archer Daniels Midland rose 73 cents, or 2 percent, to $46.50 after the company announced it was buying Swiss food flavorings company Wild Flavors for $3 billion in cash. Wild Flavors makes flavors and oils that are used in processed foods.

”” BioDelivery Sciences International was up 9 percent after the drug developer said its treatment for severe pain fared better than a placebo in another late-stage study. The company said the trial triggered another $10 million payment from Endo International Plc, which has a licensing agreement with BioDelivery. BioDelivery's stock rose $1.07 to $13.06.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-117.59	points or ▼	-0.69%	on	Tuesday, 8 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,906.62	▼	-117.59	▼	-0.69%		
	Nasdaq____	4,391.46	▼	-60.07	▼	-1.35%		
	S&P_500___	1,963.71	▼	-13.94	▼	-0.70%		
	30_Yr_Bond____	3.38	▼	-0.06	▼	-1.74%		

NYSE Volume	 3,229,765,500 	 	 	 	 	  		 
Nasdaq Volume	 2,155,883,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,738.45	▼	-85.06	▼	-1.25%		
	DAX_____	9,772.67	▼	-133.40	▼	-1.35%		
	CAC_40__	4,342.53	▼	-63.23	▼	-1.44%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,498.50	▼	-7.80	▼	-0.14%		
	Shanghai_Comp	2,064.02	▲	4.09	▲	0.20%		
	Taiwan_Weight	9,530.98	▲	10.78	▲	0.11%		
	Nikkei_225___	15,314.41	▼	-65.03	▼	-0.42%		
	Hang_Seng.__	23,541.38	▲	0.46	▲	0.00%		
	Strait_Times.__	3,283.34	▼	-8.23	▼	-0.25%		
	NZX_50_Index_	5,166.08	▼	-20.28	▼	-0.39%		

http://finance.yahoo.com/news/stocks-fall-second-day-nasdaq-162955671.html

*Stocks fall for a second day; Nasdaq slumps

US stocks fall for a second day ahead of quarterly earnings results; Social media names slump*
Associated Press
By Bernard Condon, AP Business News

NEW YORK (AP) -- Investors unloaded stocks for a second straight day ahead of a slew of corporate earnings that will help them determine whether a recent run-up in the market is justified.

The selling Tuesday follows record closes last week. The Dow Jones industrial average ended below 17,000, a level it topped Thursday for the first time in its 118-year history.

Internet companies bore the brunt of the declines. Among the biggest losers were Twitter and Pandora Media, a music streaming service, down 7 percent each. Facebook and Netflix each dropped more than 3 percent. The Nasdaq composite fell 1.4 percent, its biggest slide in two months.

Investors also dumped small-company stocks, which tend to be riskier investments. The Russell 2000 fell 1.2 percent.

The winners of the day were utilities, considered a safe choice in uncertain times and attractive because of their steady dividends. That sector rose 0.6 percent, the only one of the 10 in the Standard and Poor's 500 index that finished higher.

The selling this week is not surprising given the S&P 500's near tripling in price since its March 2009 low, said Randy Frederick, managing director of trading and derivatives at the Schwab Center for Financial Research. He also noted that the bull market has lasted more than five years, the fourth longest since World War II.

"The longer it gets out of line with historical patterns," he said, "the closer we get to fizzling out."

As companies begin reporting second-quarter results this week, investors will be looking for signs that the strengthening U.S. economy has translated into a surge in profits. Expectations are for a 6.6 percent gain over the year earlier, double the increase in the first quarter, according to S&P Capital IQ, a research firm.

On Tuesday, the Dow index fell 117.59 points, or 0.7 percent, to close at 16,906.62. The Nasdaq fell 60.07 points to 4,391.46. The S&P 500 lost 13.94 points, or 0.7 percent, to 1,963.71.

Among S&P 500 sectors, telecommunications companies fell the most, 1.5 percent.

Steven Ricchiuto, senior economist at Mizuho Securities, thinks signs that the global economy is slowing have added to investor jitters. On Tuesday, Germany reported that exports fell more than expected in May and the United Kingdom said manufacturing output dropped 1.3 percent that month.

"The global economy is taking a hit today," Ricchiuto said. "Global growth is decelerating. It may actually be stalling."

Germany's DAX stock index fell 1.3 percent on Tuesday and Britain's FTSE 100 dropped 1.2 percent.

The U.S. earnings reporting season got started after the closing bell Tuesday when aluminum maker Alcoa reported results that were better than investors expected. Wells Fargo, the No. 1 home mortgage lender in the U.S., reports on Friday.

Companies were hit hard in the first quarter by cold winter weather. But financial analysts expect earnings growth to accelerate for the rest of the year, topping 11 percent in the fourth quarter.

Among stocks making big moves Tuesday, drugmaker AbbVie fell $1.71, or 3 percent, to $55.69 following news that it raised its offer to buy another drug company, Shire. The target, known for its rare-disease drugs, has rejected three AbbVie offers.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.56 percent from 2.61 percent late Monday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	78.99	points or ▲	0.47%	on	Wednesday, 9 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,985.61	▲	78.99	▲	0.47%		
	Nasdaq____	4,419.03	▲	27.57	▲	0.63%		
	S&P_500___	1,972.83	▲	9.12	▲	0.46%		
	30_Yr_Bond____	3.36	▼	-0.02	▼	-0.59%		

NYSE Volume	 2,834,175,000 	 	 	 	 	  		 
Nasdaq Volume	 1,691,221,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,718.04	▼	-20.41	▼	-0.30%		
	DAX_____	9,808.20	▲	35.53	▲	0.36%		
	CAC_40__	4,359.84	▲	17.31	▲	0.40%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,442.20	▼	-56.30	▼	-1.02%		
	Shanghai_Comp	2,038.61	▼	-25.41	▼	-1.23%		
	Taiwan_Weight	9,489.98	▼	-41.00	▼	-0.43%		
	Nikkei_225___	15,302.65	▼	-11.76	▼	-0.08%		
	Hang_Seng.__	23,176.07	▼	-365.31	▼	-1.55%		
	Strait_Times.__	3,275.46	▼	-7.88	▼	-0.24%		
	NZX_50_Index_	5,122.74	▼	-43.33	▼	-0.84%		

http://finance.yahoo.com/news/alcoa-helps-lift-market-2-173826995.html

*Alcoa helps lift market after 2 days of declines

Stocks move higher after 2 days of losses, helped by results out of Alcoa*
Associated Press
By Ken Sweet, AP Markets Writer

NEW YORK (AP) -- Corporate earnings season got off to a positive start Wednesday, helping lift the stock market after two days of declines.

The market opened higher and remained modestly higher throughout the day. Stocks climbed further after the Federal Reserve released minutes from its latest policy meeting in June.

The biggest gainer in the Standard & Poor's 500 index was Alcoa. The aluminum giant's earnings, which investors consider to be the official start of the quarterly corporate earnings season, came in well above Wall Street's expectations. Alcoa earned $138 million, or 18 cents a share, compared with analysts' estimates of 12 cents a share, according to FactSet. Alcoa rose 84 cents, or 6 percent, to $15.69.

As companies begin reporting their second-quarter results, investors will be looking for signs that the strengthening U.S. economy has translated into higher sales and profits. Analysts expect earnings increased 6.6 percent in the three months through June compared with the previous year, according to S&P Capital IQ, a research firm.

Investors argue that with stocks trading near all-time highs, it's now up to companies to show whether or not these record high prices can be justified.

"Stocks are not cheap, and we need to be assured that these companies' growth is going to continue," said Quincy Krosby, market strategist with Prudential Financial.

The next big name to report will be the major U.S. bank Wells Fargo, which reports Friday. The bank is one of the country's biggest mortgage lenders, and investors will be looking for Wells' outlook on the housing market.

"I'm looking for a good, but not a great, earnings season," said Michael Fredericks, portfolio manager of the Multi-Asset Income Fund at BlackRock. "We really need to see the guidance from companies, if management teams are as upbeat as the market."

The Dow Jones industrial average rose 78.99 points, or 0.5 percent, to 16,985.61. The S&P 500 index rose 9.12 points, or 0.5 percent, to 1,972.83 and the Nasdaq composite rose 27.57 points, or 0.6 percent, to 4,419.03.

The market kept up its positive momentum following the latest report from the Federal Reserve.

Policymakers at the Fed have come up with a rough timetable for when the central bank's bond-buying program will wind down, according to minutes from the bank's most recent meeting. They generally agreed that the program will end in October, if the economy continues to improve at this pace, with a $15 billion reduction in monthly bond purchases.

The Fed is currently buying $45 billion a month in bonds and has been cutting back by $10 billion a month at each meeting since December. The program is designed to keep interest rates low to stimulate borrowing and economic activity.

The bond market turned higher after the Fed's announcement. The yield on the 10-year U.S. Treasury note fell to 2.55 percent from 2.56 percent Tuesday, a reversal from earlier in the day, when yields were 2.58 percent. Bond yields fall when prices rise.

In individual company news:

”” American Airlines rose $1.73, or 4.3 percent, to $41.98. The world's largest airline raised its sales forecast for the second quarter, typically the busiest time of year. The news helped lift other airline stocks, including Delta, which rose 1.5 percent. Airline stocks had taken a beating earlier this week.

”” The Container Store, which went public less than a year ago, plunged $2.27, or 8 percent, to $24.80. CEO William Tindell warned that the company was in a "retail funk" and that the sluggish sales of the winter seemed to be lingering into the spring and summer. The Container Store went public at $18 a share in November and its shares doubled in price on the day of its debut to $36.20.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-70.54	points or ▼	-0.42%	on	Thursday, 10 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,915.07	▼	-70.54	▼	-0.42%		
	Nasdaq____	4,396.20	▼	-22.83	▼	-0.52%		
	S&P_500___	1,964.68	▼	-8.15	▼	-0.41%		
	30_Yr_Bond____	3.36	▲	0.00	▲	0.12%		

NYSE Volume	 3,148,611,250 	 	 	 	 	  		 
Nasdaq Volume	 1,614,694,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,672.37	▼	-45.67	▼	-0.68%		
	DAX_____	9,659.13	▼	-149.07	▼	-1.52%		
	CAC_40__	4,301.26	▼	-58.58	▼	-1.34%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,454.30	▲	12.10	▲	0.22%		
	Shanghai_Comp	2,038.34	▼	-0.27	▼	-0.01%		
	Taiwan_Weight	9,565.12	▲	75.14	▲	0.79%		
	Nikkei_225___	15,216.47	▼	-86.18	▼	-0.56%		
	Hang_Seng.__	23,238.99	▲	62.92	▲	0.27%		
	Strait_Times.__	3,269.50	▼	-5.96	▼	-0.18%		
	NZX_50_Index_	5,128.01	▲	5.27	▲	0.10%		

http://finance.yahoo.com/news/us-stocks-slide-over-european-204609931.html

*US stocks slide over European banking worries

Portugal bank worries rattle Wall Street; investors move into bonds, gold*
Associated Press
By Ken Sweet, AP Markets Writer

NEW YORK (AP) -- Stocks fell Thursday as worries about the soundness of a European bank spooked U.S. investors, prompting them to sell off stocks and snap up less risky assets like gold and governments bonds.

Fears emerged overnight about the financial stability of Espirito Santo International, a holding company that is the largest shareholder in a group of firms, including the parent of Portugal's largest bank, Banco Espirito Santo.

Espirito Santo International reportedly missed a debt payment this week and was cited for accounting irregularities ”” issues that sparked Europe's debt crisis four years ago. The bank troubles had traders and investors talking about another European debt crisis.

Thursday's stock sell-off started in Europe, and spread to the U.S, where the Dow Jones industrial average plunged as much as 180 points in the first half hour of trading.

But anxiety in the U.S. quickly subsided and the market steadily clawed back for the rest of the day. While stocks never fully bounced back, the decline in the Dow was roughly half of what it was at the beginning of Thursday's session.

"Today's news did reignite some of those contagion fears," said Ryan Larson, head of equity trading for RBC Global Asset Management.

Portugal is one of the smaller eurozone economies and, like Greece and Ireland, needed an international rescue in 2011 during the continent's debt crisis. A three-year economic recovery program was supposed to straighten out its finances.

That debt crisis in Europe was largely responsible for the U.S. stock market's last decline of 10 percent or more, known as a "correction" in Wall Street parlance. Investors back then worried that the crisis would spread to the U.S., which was starting to recover from its own financial trauma.

On Thursday, the Dow ended down 70.54 points, or 0.4 percent, to 16,915.07. The Standard & Poor's 500 index fell 8.15 points, or 0.4 percent, to 1,964.88 and the Nasdaq composite fell 22.83 points, or 0.5 percent, to 4,396.20.

Traders and market strategists pointed to a couple of reasons why stocks didn't continue falling in the U.S.

First, it has been a relatively quiet week for Wall Street, with little economic data and only a couple companies reporting their quarterly results, so any negative news was likely to "be met with overreaction," Larson said.

"After participants had time to step back and assess, many realized the U.S. is in a relatively good spot compared with (Europe)," he said.

Second, even with the U.S. market trading near all-time highs, many investors are sitting on large amounts of cash that haven't been put into the market. Any noticeable fall in stock prices would likely be met by investors willing to step in.

"Generally, people are willing to put money into this market when the opportunity presents itself," said Erik Davidson, deputy chief investment officer of Wells Fargo Private Bank, which manages $170 billion in assets.

Investors did seek out some protection Thursday. Bond prices and gold rose as investors moved money into the traditional havens. The yield on the U.S. 10-year note fell to 2.54 percent from 2.55 percent late Wednesday. Gold rose $12, or 1 percent, to $1,336.30 an ounce.

In stocks, investors moved money into utility and telecommunication stocks, also common areas to invest when uncertainty emerges. Utility and telecom companies typically pay a higher-than-average dividend, which makes them attractive when investors don't expect stock prices to go higher.

The Dow Jones utility index, a collection of 15 utility companies, rose 0.6 percent ”” the only major index to rise Thursday. Telecommunication stocks rose an average of 0.8 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	28.74	points or ▲	0.17%	on	Friday, 11 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,943.81	▲	28.74	▲	0.17%		
	Nasdaq____	4,415.49	▲	19.29	▲	0.44%		
	S&P_500___	1,967.57	▲	2.89	▲	0.15%		
	30_Yr_Bond____	3.34	▼	-0.02	▼	-0.62%		

NYSE Volume	 2,676,301,750 	 	 	 	 	  		 
Nasdaq Volume	 1,480,360,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,690.17	▲	17.80	▲	0.27%		
	DAX_____	9,666.34	▲	7.21	▲	0.07%		
	CAC_40__	4,316.50	▲	15.24	▲	0.35%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,474.60	▲	20.30	▲	0.37%		
	Shanghai_Comp	2,046.96	▲	8.62	▲	0.42%		
	Taiwan_Weight	9,495.84	▼	-69.28	▼	-0.72%		
	Nikkei_225___	15,164.04	▼	-52.43	▼	-0.34%		
	Hang_Seng.__	23,233.45	▼	-5.54	▼	-0.02%		
	Strait_Times.__	3,293.73	▲	24.23	▲	0.74%		
	NZX_50_Index_	5,100.59	▼	-27.42	▼	-0.53%		

http://finance.yahoo.com/news/stocks-stabilize-end-down-week-210610850.html

*Stocks stabilize, but end down for the week

Stocks stabilize, but end with biggest weekly loss since April as investors grow cautious*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- U.S. stocks stabilized and ended with a small gain Friday, but it wasn't enough to prevent the market's biggest weekly drop since April.

Investors became more cautious this week as corporate earnings for the April-June period began trickling in. Worrisome news about a Portuguese bank also revived fears about the European debt crisis. That weighed on stocks, which had closed out the previous week at record highs.

Investors are now mulling whether the stock's market valuations are justified by the outlook for company earnings, or whether they have risen too far, too fast.

As investors try to make sense of the market, "we could be in a holding pattern," said Kristina Hooper, US Investment Strategist at Allianz Global Investors.

The Standard & Poor's 500 index rose 2.89 points, or 0.2 percent, to 1,967.57 on Friday. Its weekly decline of 0.9 percent was the biggest since April 11.

The Dow Jones industrial average climbed 28.74 points, or 0.2 percent, to 16,943.81. The Nasdaq composite rose 19.29 points, or 0.4 percent, to 4,415.49.

On Friday, investors absorbed corporate news and earnings.

Lorillard, whose cigarette brands include Newport, Old Gold and Kent, rose $2.92, or 4.6 percent, to $66.01. Lorillard and rival Reynolds American confirmed they are in talks to combine — a deal that would create a formidable rival to Altria Group Inc., owner of Philip Morris USA.

Investors also pored over company earnings.

Fastenal, a maker of industrial fasteners, fell the most in the S&P 500. Its stock dropped $2.01, or 4.2 percent, to $46.15 after reporting sales that missed analysts' expectations.

As U.S. companies start to report second-quarter results, investors expect more growth in profits. Earnings for S&P 500 companies are forecast to climb by 6.4 percent. That rise would be bigger than the 3.4 percent increase in the first quarter and the 4.9 percent in the same period a year earlier, according to data from S&P Capital IQ.

While earnings are rising, stock valuations have also climbed.

The price-earnings ratio for S&P 500 companies, which measures a company's stock price compared to next year's forecast earnings, has edged higher to 15.7 from 15.1 at the start of this year and 12.6 at the start of 2013.

"With valuations where they are ... we are pleasantly surprised at the resilience of the market," said Colleen Supran, a principal at Bingham, Osborn & Scarborough, an investment management company. "Investors still seem to be able to find reasons not to panic."

That was evident Friday, and even Thursday, when the U.S. stock market opened with a plunge as investors worried about the financial health of a holding company linked to Portugal's biggest bank.

The market regained much of its early loss Thursday afternoon. On Friday, it held steady.

In government bond trading Friday, prices rose. The yield on the 10-year Treasury note, which moves in the opposite direction to its price, dropped to 2.52 percent from 2.54 percent.

Oil had its biggest one-day drop since April, as Libyan oil appears poised to return to the market while global demand looks to be muted. Oil fell $2.23, or 2.2 percent, to $100.70.

8663


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	111.61	points or ▲	0.66%	on	Monday, 14 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,055.42	▲	111.61	▲	0.66%		
	Nasdaq____	4,440.42	▲	24.93	▲	0.56%		
	S&P_500___	1,977.10	▲	9.53	▲	0.48%		
	30_Yr_Bond____	3.37	▲	0.03	▲	0.75%		

NYSE Volume	 2,733,695,500 	 	 	 	 	  		 
Nasdaq Volume	 1,565,977,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,746.14	▲	55.97	▲	0.84%		
	DAX_____	9,783.01	▲	116.67	▲	1.21%		
	CAC_40__	4,350.04	▲	33.54	▲	0.78%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,495.80	▲	21.20	▲	0.39%		
	Shanghai_Comp	2,066.65	▲	19.69	▲	0.96%		
	Taiwan_Weight	9,520.30	▲	24.46	▲	0.26%		
	Nikkei_225___	15,296.82	▲	132.78	▲	0.88%		
	Hang_Seng.__	23,346.67	▲	113.22	▲	0.49%		
	Strait_Times.__	3,290.98	▼	-2.75	▼	-0.08%		
	NZX_50_Index_	5,127.87	▲	27.27	▲	0.53%		

http://finance.yahoo.com/news/stocks-move-higher-earnings-acquisition-172432051.html

*Stocks move higher on earnings, acquisition news

US stocks march higher on acquisition and earnings news; Citigroup gains*
Associated Press
By Alex Veiga, AP Business Writer

Stocks shook off last week's doldrums and finished sharply higher Monday, driven by a round of corporate deal news and strong earnings from Citigroup.

Investors cheered AECOM Technology's $4 billion acquisition of engineering and construction services company URS Corp., sending URS' stock up 11.6 percent and AECOM 8.6 percent.

Citigroup rose 3 percent after the bank turned in better-than-expected results and disclosed it has agreed to pay $7 billion to settle a federal probe into its mortgage securities business. JPMorgan Chase & Co. and Goldman Sachs, due to report earnings Tuesday, also got a lift.

All told, the three major stock indexes notched their second gain in two days. That's a turnaround from last week, when the Standard & Poor's 500 index lost 0.9 percent, its worst showing since April.

Concern about Portugal's Espirito Santo International, which reportedly missed a debt payment last week, harked back to issues that spawned Europe's debt crisis.

On Monday, investors appeared to be reassured any problems would be contained.

"Investors are saying if this Portugal thing really isn't significant from an impact standpoint, and the earnings are coming in good ... stocks ought to be going higher," said Phil Orlando, chief equity strategist at Federated Investments.

The major indexes rose in premarket trading as investors digested Citigroup's earnings. They opened in the green and held steady through the entire session.

The Standard & Poor's 500 index rose 9.53 points, or 0.5 percent, to 1,977.10. The index is down 0.4 percent from its most recent all-time high of 1,985.44 set July 3.

Nine of the 10 sectors in the S&P 500 rose, led by energy stocks. Utilities fell the most.

The Dow Jones industrial average added 111.61 points, or 0.7 percent, to 17,055.42. The Dow is down slightly from its July 3 record of 17,068.65.

The Nasdaq composite gained 24.93 points, or 0.6 percent, to 4,440.42.

The three stock indexes are all up for the year.

The yield on the 10-year Treasury note rose to 2.54 percent from 2.52 percent late Friday.

With the market trading near all-time highs, investors will be focused this week on a large number of corporate earnings, including quarterly reports from General Electric, Google, Bank of America and Johnson & Johnson.

So far investors like what they see.

"We got started off with a very good report out of Citibank this morning," Orlando said. "And economic news this week ”” retail sales, capacity utilization, housing data, confidence data ”” is all supposed to be pretty good."

Citigroup rose $1.42, or 3 percent, to $48.42.

Several other big investment banks also rose. Morgan Stanley added 40 cents, or 1.3 percent, to $31.81, while Goldman Sachs rose $2.20, or 1.3 percent, to $167. JPMorgan Chase climbed 49 cents, or 0.9 percent, to $56.29.

Recent data point to an improving U.S. economy after a slow start this year.

Employers added 288,000 jobs last month, the fifth straight month of gains above 200,000. And the national unemployment rate slid to 6.1 percent, a 5 1/2-year low.

More people with jobs means more paychecks, which could boost consumer spending and growth.

"You're starting to stack up some fairly impressive jobs numbers," said Liz Ann Sonders, chief investment strategist at Charles Schwab & Co. "There's a lot of momentum to this market."

That momentum is helping drive corporate deals. On Monday, generic drugmaker Mylan said it agreed to buy Abbott Laboratories' generic-drug business in developed markets for $5.3 billion. Mylan's stock added $1.04, or 2.1 percent, to $51.24, while shares of Abbott gained 52 cents, or 1.3 percent, to $41.82.

Meanwhile, Kindred Healthcare said it would pay $16 per share to buy up to a 14.9 percent stake in Gentiva Health Services. That's just short of the 15 percent limit imposed by a shareholder rights plan that Gentiva's board adopted earlier this year. Kindred climbed 36 cents, or 1.5 percent, to $24.74, while Gentiva gained 39 cents, or 2.5 percent, to $16.21.

In other deal news, Kodiak Oil & Gas agreed to sell itself to Whiting Petroleum in an all-stock deal. Kodiak rose 68 cents, or 4.8 percent, to $14.91. Whiting jumped $6.04, or 7.7 percent, to $84.58.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	5.26	points or ▲	0.03%	on	Tuesday, 15 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,060.68	▲	5.26	▲	0.03%		
	Nasdaq____	4,416.39	▼	-24.03	▼	-0.54%		
	S&P_500___	1,973.28	▼	-3.82	▼	-0.19%		
	30_Yr_Bond____	3.37	▲	0.00	▼	-0.06%		

NYSE Volume	 3,315,985,750 	 	 	 	 	  		 
Nasdaq Volume	 1,751,174,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,710.45	▼	-35.69	▼	-0.53%		
	DAX_____	9,719.41	▼	-63.60	▼	-0.65%		
	CAC_40__	4,305.31	▼	-44.73	▼	-1.03%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,495.70	▼	-0.10	▲	0.00%		
	Shanghai_Comp	2,070.36	▲	3.71	▲	0.18%		
	Taiwan_Weight	9,569.17	▲	48.87	▲	0.51%		
	Nikkei_225___	15,395.16	▲	98.34	▲	0.64%		
	Hang_Seng.__	23,459.96	▲	113.29	▲	0.49%		
	Strait_Times.__	3,290.90	▼	-0.08	▲	0.00%		
	NZX_50_Index_	5,115.40	▼	-12.47	▼	-0.24%		

http://finance.yahoo.com/news/us-stocks-mostly-down-investors-172830914.html

*US stocks mostly down as investors digest earnings

US stocks mostly lower as investors assess earnings, Yellen remarks; Goldman, JPMorgan higher*
Associated Press
By Alex Veiga, AP Business Writer

The Federal Reserve's latest take on the U.S. economy put many investors into sell mode Tuesday, sending stocks mostly lower after a brief upward turn early in the day.

Fed Chair Janet Yellen, speaking before Congress, said the U.S. economy has yet to recover fully, but raised the possibility the central bank could raise its key short-term interest rate sooner than currently projected.

The Fed also issued a report noting that valuations for stocks in some sectors, such as social media and biotech firms, appear to be stretched, sending shares in Facebook, Twitter and LinkedIn lower.

By suggesting some stocks could be overvalued, the Fed is adding to a growing belief among some market watchers that stocks are due for a pullback, said Drew Wilson, an equity analyst at Fenimore Asset Management.

"In this type of environment when you have a lot of uncertainty, essentially you have this equilibrium that's looking to be broken one way or another, and the Fed chair saying 'financial bubble' could do that," Wilson said.

Investors had plenty more to consider, including a mostly encouraging batch of corporate earnings and economic data.

The major U.S. financial market indexes were up slightly in premarket trading as JPMorgan, Goldman Sachs and Johnson & Johnson released quarterly results that exceeded Wall Street's expectations.

Separate reports on U.S. retail sales and manufacturing growth also gave the market an early lift.

But stock indexes diverged shortly after the market opened and then fully veered into the red about an hour into regular trading as investors began to tune into Yellen delivering the central bank's semi-annual economic report to Congress.

Stocks finished the day mixed, with the Dow Jones industrial average eking out a tiny gain on the day.

The Dow added 5.26 points, or 0.03 percent, to 17,060.68. The index is down slightly from its July 3 record of 17,068.65.

The Standard & Poor's 500 index fell 3.82 points, or 0.2 percent, to 1,973.28. The index is down 0.6 percent from its most recent all-time high of 1,985.44 set July 3.

The Nasdaq composite shed 24.03 points, or 0.5 percent, to 4,416.39.

The three stock indexes are all up for the year.

Bond prices barely budged. The yield on the 10-year Treasury note held steady at 2.55 percent.

Several tech stocks surged in after-market trading Tuesday.

Intel jumped $1.37, or 4.3 percent, to $33.08 after reporting strong second-quarter earnings and an increase to its stock buyback program. Apple and IBM rose after the former rivals announced they are teaming up to work on mobile applications in a bid to sell more iPhones and iPads to corporate customers. Apple rose $1.74, or 1.8 percent, to $97.06 in extended trading. IBM added $4.06, or 2.2 percent, to $192.55.

Meanwhile, Facebook fell 73 cents, or 1.1 percent, to $67.17, while Twitter slipped 43 cents, also 1.1 percent, to $37.88. LinkedIn fell $1.19, or 0.7 percent, to $158.51.

Yellen told Congress that the Fed intends to keep providing significant support to the U.S. economy to boost growth and improve labor market conditions, noting that the economic recovery is not yet complete.

Employers added 288,000 jobs last month, the fifth straight month of gains above 200,000. The national unemployment rate has slid to 6.1 percent, a 5 1/2-year low.

Yellen noted that if labor market conditions continue to improve more quickly than anticipated, the Fed could raise its key short-term interest rate sooner than currently projected.

"In light of corporate earnings being good, retail sales being good, manufacturing being good, even a data-driven Fed chairman is going to have to raise rates earlier than the market really wants," said Doug Cote, chief market strategist at Voya Investment Management. "So all the good fundamental data that should be good for the markets is also hawkish for rates."

Beyond the Fed, investors are mostly focused on company earnings this week, including quarterly reports from Bank of America, eBay and Yum Brands on Wednesday.

Bank earnings on Tuesday set a good tone for the latest earnings season.

JPMorgan, the nation's largest bank by assets, said its second-quarter earnings fell 9 percent as revenue at its investment banking and mortgage businesses dropped. The stock gained $1.98, or 3.5 percent, to $58.27. Goldman's profit rose 5 percent, helped by record results from investment banking. Goldman gained $2.17, or 1.3 percent, to $169.17.

Investors hammered companies whose quarterly results were less positive.

Shares in rent-to-own retailer Aaron's tumbled 9.5 percent after the company cut its profit and revenue outlook for the second quarter, partly citing performance of its core business. The stock shed $3.19 to $30.34.

Among other stocks in the news Tuesday:

”” Cigarette maker Reynolds American said it plans to buy rival Lorillard for about $25 billion in a deal to combine two of the nation's oldest and biggest tobacco companies. Reynolds fell $4.34, or 6.9 percent, to $58.84, while Lorillard sank $7.05, or 10.5 percent, to $60.17. Other tobacco stocks also declined: Altria Group slipped $1.59, or 3.7 percent, to $41.76, while Philip Morris International fell $1.36, or 1.6 percent, to $84.59.

”” Luxury goods retailer Michael Kors fell $6.23, or 7.3 percent, to $79.44 as some financial analysts cut their price target on the stock. Slowing sales growth even as the retailer cuts prices has worried some analysts.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	77.52	points or ▲	0.45%	on	Wednesday, 16 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,138.20	▲	77.52	▲	0.45%		
	Nasdaq____	4,425.97	▲	9.58	▲	0.22%		
	S&P_500___	1,981.57	▲	8.29	▲	0.42%		
	30_Yr_Bond____	3.35	▼	-0.02	▼	-0.53%		

NYSE Volume	 3,371,228,000 	 	 	 	 	  		 
Nasdaq Volume	 2,058,345,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,784.67	▲	74.22	▲	1.11%		
	DAX_____	9,859.27	▲	139.86	▲	1.44%		
	CAC_40__	4,369.06	▲	63.75	▲	1.48%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,504.50	▲	8.80	▲	0.16%		
	Shanghai_Comp	2,067.28	▼	-3.08	▼	-0.15%		
	Taiwan_Weight	9,484.73	▼	-84.44	▼	-0.88%		
	Nikkei_225___	15,379.30	▼	-15.86	▼	-0.10%		
	Hang_Seng.__	23,523.28	▲	63.32	▲	0.27%		
	Strait_Times.__	3,304.43	▲	13.01	▲	0.40%		
	NZX_50_Index_	5,114.24	▼	-1.15	▼	-0.02%		

http://finance.yahoo.com/news/us-stocks-close-higher-time-201321819.html

*US stocks close higher; Time Warner soars

Dow reaches another record following earnings, deal news; Time Warner soars on Murdoch bid*
Associated Press
By Alex Veiga, AP Business Writer

Major stock indexes rebounded Wednesday, finishing higher for the third time in four days and lifting the Dow Jones industrial average to its second record close this month.

Investors had lots of market-moving news to consider, including encouraging corporate earnings from Intel, a higher profit forecast from hospital operator HCA Holdings and a pickup in U.S. homebuilders' confidence.

Trading appeared to get the biggest jolt from the latest batch of corporate deal news.

Investors drove Time Warner's stock up 17 percent on news that Twenty-First Century Fox made a takeover bid for the media giant. Other deals involving Apple and IBM as well as slot machine maker International Game Technology also helped lift the market.

"It's a continuation of what we've really been seeing this year, and it's almost a record amount of (mergers and acquisitions) going on," said David Chalupnik, head of equities at Nuveen Asset Management.

Momentum from Intel's strong second-quarter earnings late Tuesday and news that Apple and IBM are teaming up to sell more iPhones and iPads to corporate customers helped lift major stock indexes in premarket trading.

The disclosure by Rupert Murdoch's Twenty-First Century Fox that it had made a bid for Time Warner last month added to the modest rally.

Investors also got a dose of good news about housing. A key index of U.S. homebuilders' confidence in the housing market surged to its highest level since January and indicated that builders are more optimistic about selling homes in the second half of the year.

The major stock indexes opened slightly higher, led by the tech-heavy Nasdaq, and remained in positive territory the rest of the day.

All told, the Standard & Poor's 500 index gained 8.29 points, or 0.4 percent, to 1,981.57. The index remains near its most recent all-time high of 1,985.44 set July 3.

The Dow added 77.52 points, or 0.5 percent, to 17,138.20. That's up 0.4 percent from its previous record high of 17,068.65 set July 3.

The Nasdaq composite rose 9.58 points, or 0.2 percent, to 4,425.97.

The three stock indexes are all up for the year.

Bond prices rose. The yield on the 10-year Treasury note dipped to 2.53 percent from 2.55 percent late Tuesday.

Cheap financing and a tough global economy have made acquisitions an attractive option for companies to expand their business.

The value of U.S. corporate deals has surged 80 percent to $1.02 trillion so far this year from $563 billion in the same period a year ago, according to Dealogic.

Fox's bid for Time Warner aims to counter consolidation among TV distributors.

While Time Warner rejected Fox's roughly $76 billion cash-and-stock offer, some financial analysts anticipate Fox will try again. Investors appeared to agree, sending Time Warner's stock up $12.12 to $83.13 on Wednesday. Twenty-First Century Fox fell $2.19, or 6.2 percent, to $33.

Meanwhile, International Game Technology vaulted 9.2 percent on news the slot machine maker has agreed to be sold to Italian lottery operator Gtech for $4.7 billion in cash and stock. International Game Technology added $1.42 to $16.92.

"Historically a lot of M&A doesn't work out, so it will be interesting to see how a lot of these deals play out three years from now," Chalupnik said.

Apart from corporate deals, investors had their eye on earnings.

"We've seen some pretty good earnings reports across different sectors," said Dave Roda, regional chief investment officer for Wells Fargo Private Bank in the Southeast.

Intel rose $2.94, or 9.3 percent, to $34.65. The chipmaker reported late Tuesday that earnings jumped 40 percent in the latest quarter, beating expectations, as companies picked up the pace of office PC replacement.

HCA Holdings jumped 10.5 percent after the hospital operator said its second-quarter financial results will be better than expected. It also raised its full-year outlook. The stock rose $5.78 to $60.99.

Among other stocks making news Wednesday:

”” Bank of America fell 30 cents, or 1.9 percent, to $15.51 after reporting second quarter earnings that were hit by higher litigation expenses. The Charlotte, North Carolina-based bank earned 19 cents per share compared with 32 cents a year ago.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-161.39	points or ▼	-0.94%	on	Thursday, 17 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,976.81	▼	-161.39	▼	-0.94%		
	Nasdaq____	4,363.45	▼	-62.52	▼	-1.41%		
	S&P_500___	1,958.12	▼	-23.45	▼	-1.18%		
	30_Yr_Bond____	3.29	▼	-0.06	▼	-1.73%		

NYSE Volume	 3,363,492,000 	 	 	 	 	  		 
Nasdaq Volume	 2,053,811,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,738.32	▼	-46.35	▼	-0.68%		
	DAX_____	9,753.88	▼	-105.39	▼	-1.07%		
	CAC_40__	4,316.12	▼	-52.94	▼	-1.21%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,509.90	▲	5.40	▲	0.10%		
	Shanghai_Comp	2,055.59	▼	-11.68	▼	-0.57%		
	Taiwan_Weight	9,408.24	▼	-76.49	▼	-0.81%		
	Nikkei_225___	15,370.26	▼	-9.04	▼	-0.06%		
	Hang_Seng.__	23,520.87	▼	-2.41	▼	-0.01%		
	Strait_Times.__	3,306.89	▲	2.46	▲	0.07%		
	NZX_50_Index_	5,112.39	▼	-1.86	▼	-0.04%		

http://finance.yahoo.com/news/jet-downing-weak-earnings-rattle-202136115.html

*Jet downing, weak earnings rattle stock market

US stocks swoon on news of jet downing in Ukraine and disappointing corporate earnings*
Associated Press
By Alex Veiga, AP Business Writer

The downing of a passenger plane flying over Ukraine rattled U.S. financial markets Thursday, deepening a slide set off by a batch of disappointing company earnings and a weak home construction report.

All three major stock indexes ended lower for the first time in a week, but remained near record highs and positive for the year.

Ukrainian officials said a Malaysia Airlines passenger plane carrying 295 people was shot down, although both the government and pro-Russia separatists fighting in the region denied responsibility. The situation raised concerns of wider geopolitical instability in the region and an escalation of tensions between Russia and the West.

Investors responded by seeking refuge in U.S. government bonds. The yield on the 10-year Treasury note fell to 2.46 percent, the lowest level since May. Gold and oil prices rose.

SanDisk, AutoNation, Yum Brands and Mattel were among the biggest decliners after reporting earnings or profit forecasts that disappointed investors. Airline and homebuilder stocks also fell sharply.

"What happened with the plane today and things swirling around with what may have actually happened with the plane caused a bit of a sell-off," said JJ Kinahan, chief strategist at TD Ameritrade. "The geopolitical risk is always the first one that people look for because it's the one that changes the fastest. The market always hates uncertainty."

The major stock indexes were down in premarket trading as investors pored through the latest company earnings and other news.

A pair of government reports pointed to an uneven U.S. recovery. The number of people seeking U.S. unemployment benefits fell last week, but home construction fell in June to the slowest pace in nine months, clouding the outlook for the housing recovery.

Homebuilders slumped on the news. M/I Homes led the decline, tumbling $1.38, or 5.8 percent, to $22.37.

"The housing starts numbers were weak, but housing has been incredibly volatile," said Randy Frederick, managing director of trading and derivatives at the Schwab Center for Financial Research. "They were definitely disappointing."

Stocks opened lower, but then drifted between small gains and losses, with the Dow inching briefly into positive territory.

That budding comeback stalled at midmorning when news broke of the downed plane.

The CBOE Volatility Index, also known as the "VIX," jumped 33 percent Thursday, reflecting investors' uneasiness. The index reflects investors' expectations of future volatility in the stock market.

All told, the Standard & Poor's 500 index fell 23.45 points, or 1.2 percent, to 1,958.12. The index remains near its most recent all-time high of 1,985.44 set July 3.

The Dow slid 161.39 points, or 0.9 percent, to 16,976.81.

The Nasdaq composite sank 62.52 points, or 1.4 percent, to 4,363.45.

The yield on the 10-year Treasury note fell to 2.46 percent from 2.53 percent late Wednesday. Benchmark U.S. crude oil for August delivery jumped $1.99 to $103.19 in New York. Gold surged $17.10 to $1,316.90 an ounce.

All 10 sectors in the S&P 500 declined, led by energy stocks.

SanDisk fell the most of the 500 stocks in the index, losing 13.6 percent after the flash memory maker issued a disappointing outlook. The stock fell $14.62 to $93.21.

Sherwin-Williams bucked the trend, ending up as the biggest gainer in the index. It rose $9.22, or 4.6 percent, to $210.95.

Despite Thursday's decline, stocks remain near record territory.

The Dow set a record high close on Wednesday, its second this month, and the S&P 500 is hovering near its all-time high. That may have encouraged investors to sell some of their stock holdings Thursday, said Darrell Cronk, deputy chief investment officer for Wells Fargo Private Bank.

"It's more of some position-squaring and a little bit of profit-taking over the next couple of days as we continue to set new highs," Cronk said.

Even with growing geopolitical uncertainty, the market remained focused on company earnings, which have been mostly favorable so far.

On Thursday, however, many companies fell short.

AutoNation's second-quarter earnings rose 12 percent, but fell short of Wall Street's expectations. The stock of the nation's largest auto dealership chain fell $5.01, or 8 percent, to $55.82.

Mattel fell $2.57, or 7 percent, to $36.46 after the toy maker reported that its income plunged 61 percent in the second quarter, weighed down by costs tied to its acquisition of Mega Brands.

Yum Brands shares slid $5.70, or 7 percent, to $77.01 after the operator of Taco Bell, Pizza hut and KFC reported higher second-quarter earnings but also sluggish sales in the U.S. at Pizza Hut and KFC chains.

Among other stocks making news:

”” Microsoft rose 45 cents, or 1 percent, to $44.53 after announcing early Thursday that it will eliminate up to 18,000 jobs over the next year as it works to integrate the Nokia business it bought in April. The company has about 127,000 employees now.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	123.37	points or ▲	0.73%	on	Friday, 18 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,100.18	▲	123.37	▲	0.73%		
	Nasdaq____	4,432.15	▲	68.70	▲	1.57%		
	S&P_500___	1,978.22	▲	20.10	▲	1.03%		
	30_Yr_Bond____	3.29	▲	0.00	▲	0.06%		

NYSE Volume	 3,087,313,000 	 	 	 	 	  		 
Nasdaq Volume	 1,824,232,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,749.45	▲	11.13	▲	0.17%		
	DAX_____	9,720.02	▼	-33.86	▼	-0.35%		
	CAC_40__	4,335.31	▲	19.19	▲	0.44%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,519.20	▲	9.30	▲	0.17%		
	Shanghai_Comp	2,059.07	▲	3.48	▲	0.17%		
	Taiwan_Weight	9,400.97	▼	-7.27	▼	-0.08%		
	Nikkei_225___	15,215.71	▼	-154.55	▼	-1.01%		
	Hang_Seng.__	23,454.79	▼	-66.08	▼	-0.28%		
	Strait_Times.__	3,310.53	▲	3.64	▲	0.11%		
	NZX_50_Index_	5,108.93	▼	-3.46	▼	-0.07%		

http://finance.yahoo.com/news/us-stocks-mount-strong-rebound-205150052.html

*US stocks mount strong rebound on company earnings

Investors look past geopolitical hot spots, send stocks higher on strong company earnings*
Associated Press
By Alex Veiga, AP Business Writer

Investors jumped on a wave of strong corporate financial results Friday, propelling stocks higher for the third time in five days.

The gains wiped out much of the market's losses from the day before, when the downing of a Malaysian Airlines passenger jet in eastern Ukraine stirred concerns that tensions between Russia and the West could escalate. Israel's launch of a ground offensive into Gaza also stoked geopolitical uncertainty.

Those worries appeared to ease Friday, as world leaders called for an immediate cease-fire in the region and international attention turned toward the task of determining what led to the aircraft being shot down. Investors turned their attention to the latest encouraging company earnings.

"Typically when these events hit the news, it's kind of a sell-now, ask-questions-later moment, and then there is a reassessment, and that's exactly what we had," said Quincy Krosby, market strategist at Prudential Financial. "Today, the market focused again on earnings, which for the most part were good, surprising to the upside, and the markets just basically got back to their normal business."

Signs of a rebound appeared early. The major stock indexes edged higher in premarket trading and demand for bonds waned, sending the yield on the 10-year Treasury note lower. Gold and oil prices also declined.

Strong earnings from several companies kept the market in positive territory after it opened. Investors drove up shares in Google, Honeywell International, furniture company Knoll and Huntington Banchsares, among others.

The Conference Board's latest index of leading indicators, designed to predict the economy's trajectory, stoked the market further. The index climbed in June for the fifth consecutive month. At the same time, investors brushed off a preliminary report showing consumer confidence dipped slightly.

The market built steadily on its gains throughout the day, reversing nearly all of the prior day's losses and putting all three major U.S. indexes into the green for the week.

The Standard & Poor's 500 index added 20.10 points, or 1 percent, to 1,978.22. The Dow rose 123.37 points, or 0.7 percent, to 17,100.18. The Nasdaq composite gained 68.70 points, or 1.6 percent, to 4,432.15.

The three major indexes remain ahead for the year.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.48 percent from 2.45 percent late Thursday.

All 10 sectors in the S&P 500 rose, led by health care. The sector is up 10.6 percent this year.

Gilead Sciences notched the biggest gain among the 500 companies in the index, rising $4.12 or 4.8 percent, to $89.19. NVIDIA fell the most, shedding 86 cents, or 4.5 percent, to $18.44.

Investors largely looked through the brewing geopolitical hot spots this week in part because company earnings have been favorable, said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.

"Clearly the equity market remains remarkably resilient," he said. "Despite heightened political issues on the horizon the path of least resistance for equities is still up."

Generally, early results this earnings season have been in line with investors' expectations, and in some cases, much better, noted Lawrence Creatura, portfolio manager at Federated Investors.

Late Thursday, Google reported higher earnings and revenue, even as advertising rates continued to drop. Its stock added $24.29, or 4.2 percent, to $605.11.

Honeywell International gained $1.65, or 1.7 percent, to $96.82 after reporting that its income rose sharply in the latest quarter and beat investors' forecasts.

Furniture and accessories company Knoll and semiconductor Skyworks Solutions also got a lift from quarterly results that exceeded Wall Street's expectations. Knoll jumped $1.18, or 7 percent, to $18.15, while Skyworks rose $6.53, or 14.1 percent, to $52.87.

Banks have mostly reported strong second-quarter results, including Citigroup and Goldman Sachs earlier this week. Huntington Bancshares was no exception, reporting stronger earnings and net interest income. Its shares added 45 cents, or 4.8 percent, to $9.75.

The second-quarter earnings season enters its busiest period next week, when the market will get financial results from companies including McDonald's, Apple, Boeing and AT&T.

Among other stocks in the news Friday:

— Advanced Micro Devices sank after the chipmaker issued a revenue outlook for the current quarter that fell short of Wall Street's expectations. The company reported a narrower loss in its second quarter late Thursday. The stock fell 74 cents, or 16.2 percent, to $3.83.

9123


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-48.45	points or ▼	-0.28%	on	Monday, 21 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,051.73	▼	-48.45	▼	-0.28%		
	Nasdaq____	4,424.70	▼	-7.44	▼	-0.17%		
	S&P_500___	1,973.63	▼	-4.59	▼	-0.23%		
	30_Yr_Bond____	3.26	▼	-0.03	▼	-0.85%		

NYSE Volume	 2,595,768,500 	 	 	 	 	  		 
Nasdaq Volume	 1,537,539,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,728.44	▼	-21.01	▼	-0.31%		
	DAX_____	9,612.05	▼	-107.97	▼	-1.11%		
	CAC_40__	4,304.74	▼	-30.57	▼	-0.71%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,528.70	▲	9.50	▲	0.17%		
	Shanghai_Comp	2,054.48	▼	-4.59	▼	-0.22%		
	Taiwan_Weight	9,440.97	▲	40.00	▲	0.43%		
	Nikkei_225___	15,215.71	▼	-154.55	▼	-1.01%		
	Hang_Seng.__	23,387.14	▼	-67.65	▼	-0.29%		
	Strait_Times.__	3,314.27	▲	3.74	▲	0.11%		
	NZX_50_Index_	5,126.90	▲	17.97	▲	0.35%		

http://finance.yahoo.com/news/us-stock-slip-start-week-143459001.html

*US stock slip to start the week; Six Flags sinks

US stocks are falling to start the week as big companies post mixed quarterly results*
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- The stock market started the week with a slight loss on Monday as investors weighed a mixed batch of corporate earnings against mounting political turmoil.

European leaders are considering tougher sanctions on Russia for its backing of separatists accused of shooting down a Malaysia Airways passenger plane in Ukraine last week. The European Union's foreign ministers will meet Tuesday to discuss their next steps.

In Washington, President Barack Obama demanded that international investigators get full access to the crash site and said the separatists had blocked investigators.

"It looks like we hit a speed bump," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago. "Earnings are coming through quite nicely so far, but geopolitics trump earnings today."

The Standard & Poor's 500 index fell 4.59 points, or 0.2 percent, to close at 1,973.63. Seven of the 10 industry groups fell, led by retailers and other consumer-discretionary companies.

The Dow Jones industrial average fell 48.45 points, or 0.3 percent, to 17,051.73, while the Nasdaq composite lost 7.44 points, or 0.2 percent, to 4,424.70.

European markets ended lower. Germany's DAX dropped 1.1 percent while France's CAC-40 lost 0.7 percent. Britain's FTSE 100 slipped 0.3 percent.

A few well-known companies turned in results that fell short of estimates on Monday. The toy maker Hasbro reported second-quarter earnings and revenue that came in below analysts' targets. Rising sales of My Little Pony, Transformers and other toys weren't enough to stem a decline in sales of games such as Twister. Hasbro's stock sank $1.43, or 2.7 percent, to $51.78.

Six Flags Entertainment posted higher profits and sales in the second quarter, but the theme-park operator's revenue came up short of what analysts had expected, partially a result of sluggish attendance. Six Flags slumped $1.69, or 4.1 percent, to $39.31.

Despite the dour news, the second-quarter earnings season is off to a strong start: Of the 88 companies that have reported results so far, 58 have beaten analysts' estimates.

Nearly a third of the companies in the S&P 500 index will hand in their quarterly results this week, including such heavyweights as Apple on Tuesday, Boeing on Wednesday and Amazon on Thursday.

In other trading on Monday, benchmark U.S. crude oil rose $1.46 to $104.59 a barrel on the New York Mercantile Exchange. In the market for U.S. government bonds, the yield on the 10-year Treasury note slipped to 2.47 percent from 2.48 percent late Friday.

Among other companies in the news, Yum Brands fell $3.29, or 4.3 percent, to $74.13 amid a new food-safety scare in China. The operator of KFC and Pizza Hut restaurants said its stores in China stopped buying products from a Shanghai supplier, while local officials investigate allegations that the supplier repackaged old beef and chicken and stamped new expiration dates on them.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	61.81	points or ▲	0.36%	on	Tuesday, 22 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,113.54	▲	61.81	▲	0.36%		
	Nasdaq____	4,456.02	▲	31.31	▲	0.71%		
	S&P_500___	1,983.53	▲	9.90	▲	0.50%		
	30_Yr_Bond____	3.25	▼	-0.01	▼	-0.37%		

NYSE Volume	 2,870,294,750 	 	 	 	 	  		 
Nasdaq Volume	 1,711,080,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,795.34	▲	66.90	▲	0.99%		
	DAX_____	9,734.33	▲	122.28	▲	1.27%		
	CAC_40__	4,369.52	▲	64.78	▲	1.50%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,534.00	▲	5.30	▲	0.10%		
	Shanghai_Comp	2,075.48	▲	21.00	▲	1.02%		
	Taiwan_Weight	9,499.36	▲	58.39	▲	0.62%		
	Nikkei_225___	15,343.28	▲	127.57	▲	0.84%		
	Hang_Seng.__	23,782.11	▲	394.97	▲	1.69%		
	Strait_Times.__	3,316.91	▲	2.64	▲	0.08%		
	NZX_50_Index_	5,133.87	▲	6.97	▲	0.14%		

http://news.yahoo.com/us-stocks-climb-earnings-reports-roll-141128174--finance.html

*US stocks climb as earnings reports roll in*

NEW YORK (AP) ”” Solid earnings for a range of big companies helped nudge the stock market higher on Tuesday.

The restaurant chain Chipotle Mexican Grill and the cable giant Comcast surged after reporting better results than Wall Street expected.

"The news today is pretty good," said JJ Kinahan, chief strategist at TD Ameritrade. Kinahan pointed to a report out Tuesday that showed little sign of inflation and an overall stronger outlook for earnings. During conference calls to discuss quarterly results, more CEOs are taking an optimistic tone, he said, instead of warning about possible dangers.

"In the past, they all spent their time tempering expectations," Kinahan said. "This earnings season we're not seeing that at all. I think people are taking comfort in it."

The Standard & Poor's 500 index added 9.90 points, or 0.5 percent, to 1,983.53. The Dow Jones industrial average rose 61.81 points, or 0.4 percent, to 17,113.54. The Nasdaq composite advanced 31.31 points, or 0.7 percent, to 4,456.02.

Chipotle surged $69.84, or 12 percent, to $659.77, the biggest gain in the S&P 500 index. The burrito chain reported that stronger sales drove its quarterly profit up 26 percent. The restaurant chain's results beat analysts' expectations, even as it raised prices on a range of menu items.

Comcast, the country's largest cable company, reported quarterly profits that topped Wall Street's targets as more people signed up for Internet service. Comcast gained 81 cents, or 1.5 percent, to $54.63.

Wall Street is in the middle of corporate earnings season, when companies release their quarterly results. Investors pore over those reports to gauge the financial health of Corporate America, and in turn, the U.S. economy. Roughly 150 companies in the S&P 500 will report their results this week, including AT&T and Boeing on Wednesday. Visa and Amazon will report on Thursday.

Not all the results released Tuesday were positive. Weak sales of Diet Coke and fruit juice weighed down Coca-Cola's second-quarter results, leading the company to post weaker revenue than Wall Street expected. Overall profit fell slightly. Coca-Cola's stock sank $1.21, or 3 percent, to $41.19.

Even though companies continue to post higher profits, the market still looks expensive compared to its historical average. The S&P 500 currently trades for 17.4 times earnings over the previous 12 months. The long-run average is closer to 15.

"In the short term, I expect the market to continue higher," said Brad McMillan, the chief investment officer at Commonwealth Financial. "But I am concerned about the market's valuation."

On the economic front, investors got another tame report on inflation. U.S. consumer prices inched up 0.3 percent in June, with most of the increase coming from higher gasoline prices, according to the Labor Department. Core prices, which exclude the volatile food and energy sectors, were up just 0.1 percent. Over the past year, core prices are up 1.9 percent, close to the Federal Reserve's target rate for inflation.

U.S. government bond prices rose, pushing the yield on the 10-year Treasury note down to 2.46 percent. Benchmark U.S. crude oil fell 17 cents to $104.42 a barrel.

In other company news:

Herbalife jumped $13.75, or 26 percent, to $67.77. Activist investor Bill Ackman, who has a $1 billion bet against the company, vollied his latest attack against the nutritional supplement and weight-loss company, but investors appeared to dismiss it.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-26.91	points or ▼	-0.16%	on	Wednesday, 23 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,086.63	▼	-26.91	▼	-0.16%		
	Nasdaq____	4,473.70	▲	17.68	▲	0.40%		
	S&P_500___	1,987.01	▲	3.48	▲	0.18%		
	30_Yr_Bond____	3.26	▲	0.01	▲	0.18%		

NYSE Volume	 2,846,261,250 	 	 	 	 	  		 
Nasdaq Volume	 1,888,349,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,798.15	▲	2.81	▲	0.04%		
	DAX_____	9,753.56	▲	19.23	▲	0.20%		
	CAC_40__	4,376.32	▲	6.80	▲	0.16%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,567.00	▲	33.00	▲	0.60%		
	Shanghai_Comp	2,078.49	▲	3.01	▲	0.14%		
	Taiwan_Weight	9,499.36	▲	58.39	▲	0.62%		
	Nikkei_225___	15,328.56	▼	-14.72	▼	-0.10%		
	Hang_Seng.__	23,971.87	▲	189.76	▲	0.80%		
	Strait_Times.__	3,340.70	▲	23.79	▲	0.72%		
	NZX_50_Index_	5,146.53	▲	12.66	▲	0.25%		

http://finance.yahoo.com/news/p-500-ekes-record-high-211022125.html

*S&P 500 ekes out record high as earnings roll in

Standard & Poor's 500 index ekes out all-time high after Apple and Boeing report earnings*
Associated Press
By Ken Sweet, AP Markets Writer 

NEW YORK (AP) -- The stock market eked out a record high Wednesday, as investors weighed positive earnings from the technology industry against disappointing news from Boeing and other companies.

Biotechnology stocks were among the largest gainers. Among big tech names, Apple's earnings topped Wall Street expectations, helped by rising shipments of iPhones. Microsoft also announced results that beat forecasts.

So far, with less than a fourth of U.S.-listed companies reporting their quarterly financial performance, results have been coming in better than expected.

About 72 percent of Standard & Poor's 500 companies that have reported earnings have beaten expectations, and 73 percent have beaten sales forecasts.

"It's a little early, but things seem to be coming in OK," said Sahak Manuelian, managing director of equity trading at Wedbush Securities.

Investors have become increasingly optimistic about the latest quarter. On June 30, they expected earnings to rise 4.9 percent from a year earlier. They now expect earnings to increase 5.5 percent.

The S&P 500 rose 3.48 points, or 0.2 percent, to close at 1,987.01, beating its previous record from July 3 by less than two points.

The Nasdaq composite rose 17.68 points, or 0.4 percent, to end at 4,473.70.

The Dow Jones industrial average bucked the trend. It fell 26.91 points, or 0.2 percent, to 17,086.63, and was dragged down by Boeing.

The aircraft maker slipped $3.03, or 2 percent, to $126.71, the biggest fall in the Dow, after reporting revenue Wednesday that missed analysts' expectations.

The Dow is a price-weighted index that has 30 stocks, so the movement of just one company can carry extra weight. Because Boeing is one of the Dow's most expensive stocks, it has an outsized impact.

Biotechnology stocks, meanwhile, helped lift the other major indexes.

Puma Biotechnology, a drug development company, soared after the company disclosed positive trial results for an experimental breast cancer drug. Puma rose $174.40, or 295 percent, to $233.43. Biogen Idec rose $33.93, or 11 percent, to $337.60 after its quarterly results came in above investors' expectations.

Unlike last week, investors were less focused on turmoil in Israel and Ukraine. However, market strategists say that with markets trading at all-time highs, any bad news could weigh on U.S. stocks.

"Geopolitical flare-ups, European bank-related market jitters, today's stretched valuations and relatively low market volatility leave (the market) vulnerable," Russ Koesterich, chief investment strategist at Blackrock, wrote in a note to investors.

In other markets, the yield on the 10-year Treasury note was unchanged at 2.47 percent from Tuesday. Benchmark U.S. crude oil fell 17 cents to $104.42 a barrel.

Among significant stock moves:

”” Apple rose $2.47, or 2.6 percent, to $97.19 after reporting late Tuesday that its profit rose by 12 percent in its latest quarter.

”” Microsoft also reported its results late Tuesday. The software company reported an adjusted profit of 66 cents a share, better than then 60 cents analysts were looking for. Its stock edged up 0.1 percent.

”” Facebook rose 4 percent in aftermarket trading to 74.05 after the company reported a profit that more than doubled in the second quarter and topped expectations.

”” Electronic Arts fell $2.38, or 6.2 percent, to $36.04. The video game publisher reported a 51 percent rise in earnings late Tuesday, but said it will delay the release of the latest version of its popular "Battlefield" title until 2015, missing the crucial holiday season.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-2.83	points or ▼	-0.02%	on	Thursday, 24 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,083.80	▼	-2.83	▼	-0.02%		
	Nasdaq____	4,472.11	▼	-1.59	▼	-0.04%		
	S&P_500___	1,987.98	▲	0.97	▲	0.05%		
	30_Yr_Bond____	3.30	▲	0.04	▲	1.29%		

NYSE Volume	 3,077,995,250 	 	 	 	 	  		 
Nasdaq Volume	 1,907,722,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,821.46	▲	23.31	▲	0.34%		
	DAX_____	9,794.06	▲	40.50	▲	0.42%		
	CAC_40__	4,410.65	▲	34.33	▲	0.78%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,576.80	▲	9.80	▲	0.18%		
	Shanghai_Comp	2,105.06	▲	26.57	▲	1.28%		
	Taiwan_Weight	9,527.54	▲	28.18	▲	0.30%		
	Nikkei_225___	15,284.42	▼	-44.14	▼	-0.29%		
	Hang_Seng.__	24,141.50	▲	169.63	▲	0.71%		
	Strait_Times.__	3,353.89	▲	13.19	▲	0.39%		
	NZX_50_Index_	5,174.71	▲	28.18	▲	0.55%		

http://finance.yahoo.com/news/much-movement-stocks-end-where-210034764.html

*After much movement, stocks end where they began

Stocks end little changed as investors work through earnings and economic reports*
Associated Press
By Ken Sweet, AP Markets Writer

NEW YORK (AP) -- Only Wall Street could make the buying and selling of more than 3 billion shares look like nothing happened.

Major U.S. stock indexes ended roughly where they began Thursday, despite investors having to work through a busy day of corporate earnings and two economic reports.

Underneath the flat surface, there was a lot of movement in individual companies. "It's a stock-specific market right now," said Ryan Larson, head of equity trading at RBC Global Asset Management.

Facebook's stock rose 5 percent while Caterpillar's fell 3 percent after the companies each reported quarterly results.

The Dow Jones industrial average edged down 2.83 points, or 0.02 percent, to close at 17,083.80. It was the fourth-smallest point move in the blue chips this year. The Nasdaq fell 1.59 points, or 0.4 percent, to 4,472.11.

The Standard & Poor's 500 index managed to rise 0.97 of a point, or 0.05 percent, to 1,987.98 ”” a record, though barely. The day before, the S&P 500 closed at 1,987.01.

Three billion shares changed hands on the New York Stock Exchange Thursday, a quieter-than-average day.

Facebook rose $3.69 to $74.98 after announcing a profit that trounced investors' expectations. The company reported an adjusted profit of 42 cents per share versus the 33 cents analysts were looking for, according to a poll by Zacks Investment Research. Mobile advertising, a crucial business for the world's largest social media company, saw major growth.

"It was a very impressive quarter on top of what we believe were very high Street expectations," said Paul Vogel, an analyst with Barclays Capital, in a note to investors.

Dow member Caterpillar fell $3.34 to $105.04, making it the biggest decliner among the 30 companies that make up the average. The equipment maker's quarterly revenue fell short of forecasts.

Homebuilder stocks slid after the government reported that new home sales sagged 8.1 percent last month. The report also revised down the May sales rate. Shares of Pulte Homes and KB Home fell 3 percent while Toll Brothers fell 4 percent. D.R. Horton quarterly results also dragged down homebuilders. Its profit dropped, and the stock price fell $2.86, or 12 percent, to $21.94.

Another industry that got a lot of attention was autos. Ford rose 6 cents, or 0.3 percent, to $17.84 after reporting a 6 percent increase in second-quarter profit. The automaker was helped by increased sales in Europe. General Motors fell $1.67, or 4.5 percent, to $35.74 after announcing an 85-percent drop in quarterly earnings. The company is in the midst of the worst recall crisis in its history.

Investors got some good news about jobs. The Labor Department reported weekly applications for unemployment aid dropped 19,000 to a seasonally adjusted 284,000 claims. That's the lowest reading since February 2006, nearly two years before the Great Recession began.

In other markets, the yield on the 10-year Treasury note nudged up to 2.51 percent from 2.47 percent late Wednesday. Bond yields rise when prices fall. U.S. crude oil fell $1.05, or 1 percent, to $102.07 a barrel in New York.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-123.23	points or ▼	-0.72%	on	Friday, 25 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,960.57	▼	-123.23	▼	-0.72%		
	Nasdaq____	4,449.56	▼	-22.54	▼	-0.50%		
	S&P_500___	1,978.34	▼	-9.64	▼	-0.48%		
	30_Yr_Bond____	3.24	▼	-0.06	▼	-1.70%		

NYSE Volume	 2,617,781,000 	 	 	 	 	  		 
Nasdaq Volume	 1,697,309,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,791.55	▼	-29.91	▼	-0.44%		
	DAX_____	9,644.01	▼	-150.05	▼	-1.53%		
	CAC_40__	4,330.55	▼	-80.10	▼	-1.82%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,574.20	▼	-2.60	▼	-0.05%		
	Shanghai_Comp	2,126.61	▲	21.55	▲	1.02%		
	Taiwan_Weight	9,439.29	▼	-88.25	▼	-0.93%		
	Nikkei_225___	15,457.87	▲	173.45	▲	1.13%		
	Hang_Seng.__	24,216.01	▲	74.51	▲	0.31%		
	Strait_Times.__	3,350.17	▼	-3.72	▼	-0.11%		
	NZX_50_Index_	5,194.27	▲	19.56	▲	0.38%		

http://finance.yahoo.com/news/worries-us-consumers-drag-stocks-205755378.html
*
Worries about US consumers drag stocks lower

Stocks fall as results at Amazon, Visa raise worries about consumers; Dow ends below 17,000*
Associated Press
By Ken Sweet, AP Markets Writer

NEW YORK (AP) -- Investors got some bad news about the American shopper on Friday, driving down stocks and sending the Dow Jones industrial average to a loss for the week.

Two major U.S. companies — the retail giant Amazon and the credit card processor Visa — both said that the second half of the year was looking more troubled than originally expected. The cautious outlook from two companies so heavily exposed to consumer spending spooked investors, causing the stock market to fall at the open and remain lower throughout the day.

"Visa put a lot of caution into the market this morning," said Quincy Krosby, a market strategist at Prudential Financial.

The Dow dropped 123.23 points, or 0.7 percent, to 16,960.57. It's the first time the Dow has closed below the psychologically notable 17,000-point mark since July 9.

The Standard & Poor's 500 fell 9.64 points, or 0.5 percent, to 1,978.34 and the Nasdaq composite fell 22.54 points, or 0.5 percent, to 4,449.56.

With Friday's selling, the Dow fell 0.8 percent this week. The S&P 500 closed basically unchanged and the Nasdaq rose 0.4 percent this week.

Visa was the biggest decliner among the blue chips, falling $7.97, or 3.6 percent, to $214.77. The credit card processor reported an 11 percent rise in quarterly profit but cut its full-year forecast on concerns about growth overseas.

Because the Dow is a price-weighted index, and Visa is the most expensive stock in the Dow, Visa was having an outsized impact on it. Roughly 60 points of the Dow's decline can be attributed to Visa.

Investors have closely watched Visa ever since the company went public in 2008. Credit cards that use Visa's payment system are in nearly person's pocket, and each time a consumer buys a product with a Visa card the company takes a small percentage.

To see Visa give a cautious outlook is worrisome, Krosby said.

"Visa represents the consumer and the consumer is one of the most important pieces for the future of this economic recovery," she said.

Amazon's quarterly results didn't help boost investor sentiment either.

Amazon's stock slumped 10 percent after the online retail giant late Thursday posted a much wider loss than analysts had forecast, hit by expenses. The Seattle-based company is focused on spending the money it makes to expand into new areas and products, including a smartphone, the Fire, which starts selling Friday.

Amazon fell $36.60 to close at $324.01, the biggest decliner in the S&P 500 index.

Investors retreated from riskier stocks and moved into traditional havens at times of uncertainty: bonds and gold. The yield on the 10-year Treasury note eased to 2.47 percent from 2.50 percent late Thursday as demand for the government bond rose. Gold climbed $12.50, or 1 percent, to $1,303.30 an ounce

Despite the disappointing news from those consumer-focused companies, corporate earnings from the latest quarter have been solid. Of the 230 companies that have reported so far, 76 percent have beaten profit expectations and 67 percent have beaten sales expectations, according to FactSet. So far the S&P 500 is averaging a 6.7 percent earnings growth this quarter compared to a year ago. Investors had expected earnings to be up 4.9 percent when the results started to roll in at the beginning of July.

Even with Friday's declines, the stock market remains near all-time highs, and the S&P 500 closed at a record Thursday..

That made some investors cautious.

"I continue to see the level of complacency in the (stock) market to be unnerving," Scott Clemons, chief investment strategist at Brown Brothers Harriman, which manages $25 billion in assets for private investors. "All of this geopolitical tension, the market trading near all-time highs, I think the market is at a critical state right now."

Clemons said he doesn't believe the market is poised for a major sell-off, but instead thinks investors should brace for more volatility and more heavy-handed reaction to disappointing earnings or data, like Friday's Amazon and Visa results.

In other company news:

— Starbucks fell $1.71, or 2 percent, to $78.74, despite the company reporting a profit that came in above analysts' expectations. The company also raised its full-year profit forecast.

— El Pollo Loco surged $9.03, or 60 percent, to $24.03 on its first day of trading in the public market. The grilled chicken restaurant chain priced its shares at $15 per share late Thursday.

9615


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	22.02	points or ▲	0.13%	on	Monday, 28 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,982.59	▲	22.02	▲	0.13%		
	Nasdaq____	4,444.91	▼	-4.65	▼	-0.10%		
	S&P_500___	1,978.91	▲	0.57	▲	0.03%		
	30_Yr_Bond____	3.26	▲	0.02	▲	0.55%		

NYSE Volume	 2,773,161,250 	 	 	 	 	  		 
Nasdaq Volume	 1,765,685,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,788.07	▼	-3.48	▼	-0.05%		
	DAX_____	9,598.17	▼	-45.84	▼	-0.48%		
	CAC_40__	4,344.77	▲	14.22	▲	0.33%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,569.90	▼	-4.30	▼	-0.08%		
	Shanghai_Comp	2,177.95	▲	51.33	▲	2.41%		
	Taiwan_Weight	9,420.18	▼	-19.11	▼	-0.20%		
	Nikkei_225___	15,529.40	▲	71.53	▲	0.46%		
	Hang_Seng.__	24,428.63	▲	212.62	▲	0.88%		
	Strait_Times.__	3,350.17	▼	-3.72	▼	-0.11%		
	NZX_50_Index_	5,187.14	▼	-7.13	▼	-0.14%		

http://finance.yahoo.com/news/stocks-pause-traders-await-key-204314977.html

*Stocks pause as traders await key economic news

US stocks end little changed as traders wait for key economic reports and more earnings*
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- After dawdling between small gains and losses in a slow day of summer trading, the stock market ended little changed on Monday.

Instead of worrying about the conflict between Russia and Ukraine or trouble in the world's other hot spots, investors appeared to sit tight.

The main reason, said Robert Pavlik, chief market strategist at Banyan Partners, a wealth management firm, is that the news that's most likely to move the market comes out later in the week.

On Wednesday, the Federal Reserve wraps up a two-day meeting then issues a statement that investors will study for any hints about the Fed's next interest-rate move. On Friday, the government releases its closely watched monthly jobs report.

"If you're a professional investor," Pavlik said, "the big things you focus on this week are what the Federal Reserve says Wednesday and Friday's monthly employment report."

A scattering of merger announcements drove some trading on Monday. Family Dollar rose the most in the Standard & Poor's 500 index ”” with a 25 percent gain ”” after Dollar Tree announced plans to buy the rival discount store for roughly $8.5 billion. Family Dollar's stock surged $15.08 to $75.74.

Trulia jumped on news that Zillow, a rival real-estate listing service, was buying it for $3.5 billion. Trulia advanced $8.69, or 15 percent, to $65.04. Zillow picked up $1.46, or 1 percent, to $160.32.

The S&P 500 index edged up 0.57 of a point, or 0.03 percent, to close at 1,978.91.

The Dow Jones industrial average rose 22.02 points, 0.1 percent, to 16,982.59, while the Nasdaq composite slipped 4.65 points, or 0.1 percent, to 4,444.91.

Wall Street is in the middle of second-quarter earnings season, when big companies turn in their springtime results and tell investors how they think the rest of the year will shape up. This week, ExxonMobil and MasterCard are among the heavyweights posting earnings. American Express and Merck report Tuesday.

So far, the news has been better than many expected. Of the 229 companies that have posted results, nearly seven out of 10 have turned in higher profits than analysts projected, according to S&P Capital IQ.

Among the handful of companies reporting Monday, Tyson Foods announced higher quarterly profits as well as a plan to sell its chicken business in Mexico and Brazil for $575 million in cash. Tyson Foods climbed $1.02, or 3 percent, to $40.56.

Tensions between Western powers and Russia remained a concern for investors. On Monday, an international court ordered Russia to pay over $50 billion to a group of investors for the expropriation of now-defunct oil company Yukos. The ruling comes as European countries consider imposing sanctions on trade in defense, technology and other goods and restricting access to European capital markets for Russia's state-owned companies.

Pavlik said most U.S. investors have managed to set aside their worries over world politics and focus on the improving economy, though the conflicts could still rattle markets

"I think the market is doing what it should be doing," he said. "It's not getting sucked into all the bad news out there. Russia is lobbing bombs into Ukraine, and that appears like it could spiral out of control. The Middle East looks out of control. But the stock market is trading near an all-time high."

In other trading on Monday, France's CAC 40 rose 0.3 percent while Germany's DAX shed 0.5 percent. Britain's FTSE 100 slipped 0.1 percent.

News that profits at China's industrial enterprises soared 17.9 percent in June over a year earlier suggested that the world's No. 2 economy has stabilized and gave Asian markets a boost. China's benchmark Shanghai Composite Index surged 2.4 percent.

The price of oil fell as traders awaited this week's economic reports. Benchmark U.S. crude oil fell 42 cents to $101.67 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils, fell 82 cents to $107.57 on the ICE Futures exchange in London.

BONDS: In U.S. government bonds, the yield on the 10-year Treasury note inched up to 2.48 percent from 2.47 percent late Friday. Bond yields rise when prices fall.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-70.48	points or ▼	-0.42%	on	Tuesday, 29 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,912.11	▼	-70.48	▼	-0.42%		
	Nasdaq____	4,442.70	▼	-2.21	▼	-0.05%		
	S&P_500___	1,969.95	▼	-8.96	▼	-0.45%		
	30_Yr_Bond____	3.22	▼	-0.04	▼	-1.23%		

NYSE Volume	 3,143,071,750 	 	 	 	 	  		 
Nasdaq Volume	 2,072,515,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,807.75	▲	19.68	▲	0.29%		
	DAX_____	9,653.63	▲	55.46	▲	0.58%		
	CAC_40__	4,365.58	▲	20.81	▲	0.48%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,580.60	▲	10.70	▲	0.19%		
	Shanghai_Comp	2,183.19	▲	5.24	▲	0.24%		
	Taiwan_Weight	9,391.88	▼	-28.30	▼	-0.30%		
	Nikkei_225___	15,618.07	▲	88.67	▲	0.57%		
	Hang_Seng.__	24,640.53	▲	211.90	▲	0.87%		
	Strait_Times.__	3,357.63	▲	7.46	▲	0.22%		
	NZX_50_Index_	5,165.56	▼	-21.59	▼	-0.42%		

http://finance.yahoo.com/news/stocks-end-lower-ahead-economic-210043948.html

*Stocks end lower ahead of economic data

Stock market ends modestly lower ahead of key economic reports later this week*
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- The stock market fell modestly on Tuesday as investors focused on a batch of big economic reports ahead.

On Wednesday, the government releases its look at economic growth in the spring quarter and the Federal Reserve finishes a two-day meeting. The next day, a report on China's manufacturing industry will give investors an update on the health of the world's factory floor.

For U.S. investors, the key news comes Friday, when the Labor Department releases its monthly report on the jobs market.

With traders cautious ahead of these reports, the market has drifted.

"So far, it seems like this week is about waiting for later this week," said Bill Stone, chief investment strategist at PNC Asset Management Group.

Stocks spent most of Tuesday wandering around the start line. Major indexes crept higher in the morning, following news that a gauge of consumer confidence hit its highest level in nearly seven years. Major indexes turned flat by midday then slid to a loss in the last hours of trading.

The Standard & Poor's 500 index lost 8.96 points, or 0.5 percent, to close at 1,969.95.

The Dow Jones industrial average fell 70.48 points, or 0.4 percent, to 16,912.11, while the Nasdaq composite slipped 2.21 points, less than 0.1 percent, to 4,442.70.

Telecoms were the only one of the 10 industry groups in the S&P 500 to rise as traders plowed into a range of telephone and cable stocks, including AT&T and Verizon. The moves came after Windstream Holdings announced plans to move some of its network into a trust that won't pay income tax. Windstream's stock jumped $1.30, or 12 percent, to $11.83.

This week marks the half-way point for second-quarter earnings, and the overall results look solid. Earnings are on track to climb 8.8 percent over the year. At the start of the earnings season, analysts predicted an increase of 6 percent.

Among the heavyweights turning in results Tuesday, Merck reported a large sale and a tax benefit that helped it more than double second-quarter earnings, easily topping Wall Street's expectations. The drugmaker also raised its profit forecast for 2014. Its stock climbed 61 cents, or 1 percent, to $58.58.

A warning of lower profits from United Parcel Service knocked its stock down. UPS said spending on technology to improve its service during the upcoming holiday season will take a cut out of its full-year earnings. The shipping company also said its second-quarter earnings fell 58 percent, though shipments and sales picked up. UPS sank $3.80, or 4 percent, to $98.86.

Even with earnings coming in, traders are mostly biding their time until the economic news hits.

"In the next three days we're going to get so much information on the state of the economy," said Jim Paulsen, chief investment strategist at Wells Capital Management. "It could change the landscape under our feet."

In other markets:

The price of oil fell on concerns about the strength of demand for oil and gasoline in the U.S., ahead of the weekly report on supplies from the Energy Department. Benchmark U.S. crude slipped 70 cents to $100.97 a barrel on the New York Mercantile Exchange.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-31.75	points or ▼	-0.19%	on	Wednesday, 30 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,880.36	▼	-31.75	▼	-0.19%		
	Nasdaq____	4,462.90	▲	20.20	▲	0.45%		
	S&P_500___	1,970.07	▲	0.12	▲	0.01%		
	30_Yr_Bond____	3.31	▲	0.09	▲	2.73%		

NYSE Volume	 3,442,766,000 	 	 	 	 	  		 
Nasdaq Volume	 1,838,817,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,773.44	▼	-34.31	▼	-0.50%		
	DAX_____	9,593.68	▼	-59.95	▼	-0.62%		
	CAC_40__	4,312.30	▼	-53.28	▼	-1.22%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,615.10	▲	34.50	▲	0.62%		
	Shanghai_Comp	2,181.24	▼	-1.95	▼	-0.09%		
	Taiwan_Weight	9,447.02	▲	55.14	▲	0.59%		
	Nikkei_225___	15,646.23	▲	28.16	▲	0.18%		
	Hang_Seng.__	24,732.21	▲	91.68	▲	0.37%		
	Strait_Times.__	3,353.65	▼	-2.43	▼	-0.07%		
	NZX_50_Index_	5,158.55	▼	-7.00	▼	-0.14%		

http://finance.yahoo.com/news/stocks-flatten-fed-delivers-no-204018530.html

*Stocks flatten out after Fed delivers no surprises

Stock market ends flat after Federal Reserve delivers no surprises with latest stimulus cut*
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- A cheerful report on the U.S. economy, rising profits and no surprises from the Federal Reserve left the stock market nearly where it started on Wednesday.

The news was nearly all good. The government said that the economy grew at a robust 4 percent annual rate this spring. Later in the day, the Federal Reserve did exactly what investors expected. It scaled back its support for the economy, while pledging to keep short term interest rates low "for a considerable time" after it stops buying bonds.

Traders sold U.S. government bonds, pushing the 2-year Treasury note to 0.56 percent, the highest level this year. It's a clear sign bond traders think an improving economy will force the Fed to raise interest rates sooner rather than later. Meanwhile, stock investors were mainly sitting on their hands.

"Good news is getting to be bad news again," said Jack Ablin, chief investment officer at BMO Private Bank, referring to the lack of enthusiasm among investors in the stock market. "The G.D.P. report is obviously good news, so why are stocks off? Because people are wondering when the party will come to an end."

The Standard & Poor's 500 index ended with a gain of 0.12 of a point, or 0.01 percent, at 1,970.07.

The Dow Jones industrial average slipped 31.75 points, or 0.2 percent, to close at 16,880.36. The Nasdaq composite rose 20.20 points, or 0.5 percent, to 4,462.90.

The Fed announced plans to make further cuts to its monthly bond purchases, a program launched after the financial crisis to encourage borrowing and spending. At the current pace of cutbacks, the Fed's bond purchases will end in October.

Most economists expect that the Fed could start raising rates next year as the economy improves.

A strong report on the economy is always good news for the stock market over the long haul, said Darrell Cronk, Deputy Chief Investment Officer for Wells Fargo Wealth Management. In the near term, though, investors are bound weigh any good news against a possible interest-rate move from the Federal Reserve.

"I'd love to get back to where what matters most for the market is the economy not what the latest read is on the Fed," Cronk said.

Investors were also following the parade of big companies turning in their second-quarter results. The reports out Wednesday presented a mixed picture. Sliding sales for Goodyear Tire & Rubber knocked its stock down $2.14, or 8 percent, to $25.45.

Twitter's stronger revenue sent its stock up 20 percent Wednesday. The company reported a quarterly loss late Tuesday but its revenue more than doubled over the year, thanks to new advertising tools and a surge in traffic from soccer fans following the World Cup. Twitter's stock surged $7.71 to $46.30.

Amgen said Tuesday that it plans to lay off up to 15 percent of its worldwide workforce and close four sites, even as it reported second-quarter results that trounced Wall Street expectations. The drugmaker also raised its forecasts for its 2014 profit and sales. Amgen's stock climbed $6.70, or 5 percent, to $130.01.

Overall, earnings at U.S. companies have been better than many expected. More than half of the companies in the S&P 500 have reported results for the second quarter, and seven out of 10 have posted higher profits than analysts projected, according to S&P Capital IQ.

News of stronger U.S. economic growth sent prices for U.S. government bonds lower. The yield on the 10-year Treasury note jumped to 2.55 percent from 2.46 percent late Tuesday, a huge move in the usually placid bond market.

In energy trading, the price of oil fell as inventories of gasoline and diesel continued to build. Benchmark U.S. crude fell 70 cents to close at $100.27 a barrel. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.21 to close at $106.51 on the ICE Futures exchange in London. Wholesale gasoline fell 2.9 cents to close at $2.816 a gallon in New York.

Gold for August delivery fell $3.40 to $1,294.90 an ounce. September silver rose a penny to $20.60 an ounce.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-317.06	points or ▼	-1.88%	on	Thursday, 31 July 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,563.30	▼	-317.06	▼	-1.88%		
	Nasdaq____	4,369.77	▼	-93.13	▼	-2.09%		
	S&P_500___	1,930.67	▼	-39.40	▼	-2.00%		
	30_Yr_Bond____	3.31	▲	0.00	▲	0.03%		

NYSE Volume	 4,229,507,500 	 	 	 	 	  		 
Nasdaq Volume	 2,216,321,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,730.11	▼	-43.33	▼	-0.64%		
	DAX_____	9,407.48	▼	-186.20	▼	-1.94%		
	CAC_40__	4,246.14	▼	-66.16	▼	-1.53%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,623.10	▲	8.00	▲	0.14%		
	Shanghai_Comp	2,201.56	▲	20.32	▲	0.93%		
	Taiwan_Weight	9,315.85	▼	-131.17	▼	-1.39%		
	Nikkei_225___	15,620.77	▼	-25.46	▼	-0.16%		
	Hang_Seng.__	24,756.85	▲	24.64	▲	0.10%		
	Strait_Times.__	3,374.06	▲	20.41	▲	0.61%		
	NZX_50_Index_	5,167.99	▲	9.44	▲	0.18%		

http://finance.yahoo.com/news/us-stocks-plunge-wiping-julys-194718559.html

*US stocks plunge, wiping out July's gains

Stocks plunge, wiping out July gains; Market logs first loss since January*
Associated Press
By Steve Rothwell, AP Business Writer

NEW YORK (AP) -- For investors, there were few havens on Thursday.

The stock market had its worst one-day drop since February, driven down by a confluence of worries, from weak company earnings to the looming end of stimulus from the Federal Reserve.

But it wasn't just stocks that suffered; oil fell to its lowest level since March, gold dropped and even Treasury notes edged lower.

Stocks started the day lower after a dose of bad earnings news, and the losses accelerated throughout the day.

Whole Foods Market and Exxon Mobil were among companies that fell after reporting results or forecasts that disappointed investors.

The stock market has been on a bull run for more than five years, with the most recent leg of that surge pushing the Standard & Poor's 500 index to an all-time high a week ago. Investors are now getting concerned that stocks may have climbed too far and reflect too much optimism on the outlook for growth.

"We've been on a strong run," said Jerry Braakman, chief investment officer at First American Trust. "There's just more concern that stock valuations are rich compared to historical norms."

The S&P 500 dropped 39.40 points, or 2 percent, to 1,930.67, its biggest loss since April 10. The drop pushed the index to its first monthly loss since January.

The Dow Jones industrial average plunged 317.06 points, or 1.9 percent, to 16,563.30. The Nasdaq composite fell 93.13 points, or 2.1 percent, to 4,369.77. The Russell 2000, an index of small company stocks, plunged 26.50 points, or 2.3 percent, to 1,120.07

Exxon Mobil stock fell $4.31, or 4.2 percent, to $98.94 after the energy company said that oil and gas production slipped 6 percent, disappointing analysts. The decline was driven by the expiration of rights to a field in Abu Dhabi and natural field declines.

Investors are also concerned about the outlook for growth in Europe as tensions escalate between the European Union and Russia after the downing of a passenger plane over Ukraine. The European Union on Thursday revealed the details of broad economic sanctions against Russia.

The main driver behind Thursday's sell-off was a reassessment of the outlook for interest rates in the U.S. said Paul Zemsky, chief investment officer of Multi-Asset Strategies and Solutions at Voya Investment Management.

Fed policymakers said the central bank would make further cuts to its monthly bond purchases, a program that is intended to keep long-term interest rates low and encourage borrowing and spending. Policy makers are also becoming more optimistic about the outlook for the U.S. economy after growth expanded by a better-than-expected 4 percent in the second quarter.

"We're closer to the first move higher in interest rates," said Zemsky. "And there's definitely a camp that believes that the only reason that were at these levels is because the Fed has kept the rates at zero."

Despite Thursday's weak earnings reports, the overall outlook for company profits is still strong, said Zemsky.

Company earnings are still at record levels, and expected to grow by 8.6 percent in the second quarter, according to data from S&P Capital IQ. That compares to growth of 4.9 percent in the same period a year ago and 3.4 percent growth in the first three months of this year.

Gold fell $13.60, or 1.1 percent, to $1,281.30 an ounce. Silver fell 19 cents, or 0.9 percent, to $20.41 an ounce.

Benchmark U.S. crude fell $2.10 to close at $98.17 a barrel in New York, its lowest level since March 17. Oil's high for the year was $107.26, set on June 20; its low was $91.66, set on January 9.

Brent crude, a benchmark for international oils used by many U.S. refineries, fell 49 cents Thursday to close at $106.02 in London.

Prices for U.S. government bonds were little changed. The yield on the 10-year Treasury note edged up to 2.57 percent from 2.56 percent on Wednesday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-69.93	points or ▼	-0.42%	on	Friday, 1 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,493.37	▼	-69.93	▼	-0.42%		
	Nasdaq____	4,352.64	▼	-17.13	▼	-0.39%		
	S&P_500___	1,925.15	▼	-5.52	▼	-0.29%		
	30_Yr_Bond____	3.30	▼	-0.01	▼	-0.42%		

NYSE Volume	 3,849,729,000 	 	 	 	 	  		 
Nasdaq Volume	 1,977,293,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,679.18	▼	-50.93	▼	-0.76%		
	DAX_____	9,210.08	▼	-197.40	▼	-2.10%		
	CAC_40__	4,202.78	▼	-43.36	▼	-1.02%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,547.60	▼	-75.50	▼	-1.34%		
	Shanghai_Comp	2,185.30	▼	-16.26	▼	-0.74%		
	Taiwan_Weight	9,266.51	▼	-49.34	▼	-0.53%		
	Nikkei_225___	15,523.11	▼	-97.66	▼	-0.63%		
	Hang_Seng.__	24,532.43	▼	-224.42	▼	-0.91%		
	Strait_Times.__	3,344.42	▼	-29.64	▼	-0.88%		
	NZX_50_Index_	5,109.93	▼	-58.06	▼	-1.12%		

http://finance.yahoo.com/news/p-500...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*S&P 500 has its worst week in 2 years

S&P 500 has its worst week since 2012 as geopolitical, Europe concerns worry US investors*
Associated Press
By Ken Sweet, AP Business Writer 

NEW YORK (AP) -- U.S. stocks fell for a second day Friday, adding to the massive sell-off the day before and giving the market its worst week in two years.

Investors found little reason to move money into stocks, faced with the growing geopolitical concerns in Israel and Ukraine, as well as banking problems in Europe.

For the last two years investors have generally wanted to step in to buy any major fall in the stock market, traders said, causing any sell-off to be met the following day with modest buying. Traders said that the selling Friday, on top of what happened the day before, is not a good sign.

"The follow-through from yesterday's (market drop) is very telling," said Jonathan Corpina, a trader on the New York Stock Exchange with Meridian Equity Partners. "The end of this week could not come at a better time as the weekend might provide some stability."

On Friday the Standard & Poor's 500 index lost 5.52 points, or 0.3 percent, to 1,925.15. The index fell 2.7 percent this week, its worst weekly performance since June 2012.

The Dow Jones industrial average fell 69.93 points, or 0.4 percent, to 16,493.37. That's on top of the 317-point drop the index had on Thursday. The Nasdaq composite fell 17.13 points, or 0.4 percent, to 4,352.64.

Energy and financial stocks were among the biggest decliners. Chevron, the nation's second-largest oil and gas company behind Exxon Mobil, fell $1.34, or 1 percent, to $127.90. While Chevron's earnings were better than analysts had predicted, the company's oil and gas production fell in the quarter. Exxon also reported lower production when it released its own results Thursday.

Banking stocks also fell. JPMorgan Chase, Bank of America, Morgan Stanley and Goldman Sachs all slid roughly 2 percent.

On Friday, the International Swaps and Derivatives Association ruled that Argentina had officially defaulted on its bonds for the second time in 13 years, in what the ISDA calls a "credit event." In a "credit event," investors who own credit-default swaps, a type of insurance that protects against a bond issuer defaulting, are activated and the companies which wrote the policies must pay the investors who own them.

In Portugal, the struggling bank Banco Espirito Santo plunged 40 percent. Espirito Santo reported Wednesday a 3.5 billion euro net loss for the second quarter, and there were concerns the bank is insolvent.

The concerns over the Argentinian default and as well as with European banks were the biggest driver of Friday's market decline, said Jonathan Golub, chief U.S. market strategist at RBC Capital Markets.

"The market doesn't like anything that could potentially disrupt the credit markets," Golub said, noting that indicators of market volatility jumped on Friday.

Adding to the uncertainty, investors had the violence in Israel and Gaza as well as Ukraine to worry about. A 72-hour ceasefire between Israel and Gaza collapsed early Friday. In Ukraine, violence between government and pro-Russian separatists escalated.

Ukraine's unrest as well as the concerns over Espirito Santo weighed heavily on European markets. Germany's DAX fell 2.1 percent, France's CAC 40 fell 1 percent, and the FTSE 100 index fell 0.8 percent.

As global stock prices declined, traders moved money into investments traditionally seen as having lower risk Friday, such as U.S. government bonds, gold and utility stocks.

Investors did get some good news about the U.S. economy. The Labor Department said that U.S. employers created 209,000 jobs in July, while the unemployment rate rose to 6.2 percent from 6.1 percent. July was the sixth-straight month that U.S. employers created more than 200,000 jobs, a sign that the U.S. economy continues to recover. Economists also pointed out that the rise in the unemployment rate was likely due to more out-of-work people actively looking for jobs.

"In a nutshell, it's a good report," said Dan Greenhaus, chief strategist at brokerage firm BTIG in New York. "Not too hot, not too cold."

The good news on the economy also means the Federal Reserve isn't going to be there to hold investors' hands for much longer. The central bank said Wednesday it would cut back its bond-buying program again, and investors now believe the Fed is looking to raise interest rates starting next year.

The Fed's stimulus efforts, combined with the growing U.S. economy, have helped pushed the stock market higher. The last time U.S. stocks had a correction, meaning a decline of 10 percent or more in a benchmark index like the S&P 500, is nearly three years ago. They typically happen every 18 months.

Proctor & Gamble was among the day's winners. The stock rose $2.33, or 3 percent, to $79.65. The consumer products giant said it earned an adjusted profit of 95 cents a share, four cents better what analysts had expected. P&G helped lift other consumer staples companies, making the industry the best performing industry in the S&P 500.

In other trading, the yield on the 10-year Treasury note fell to 2.49 percent and the price of gold rose $12.30 to $1,293.60 an ounce. Silver fell four cents to $20.37 an ounce.

The price of oil fell to the lowest level since Feb. 6. Benchmark U.S. crude oil dropped 29 cents to $97.88 a barrel, and ended the week with a loss of $4.21 a barrel, or 4 percent.

0194


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	75.91	points or ▲	0.46%	on	Monday, 4 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,569.28	▲	75.91	▲	0.46%		
	Nasdaq____	4,383.89	▲	31.25	▲	0.72%		
	S&P_500___	1,938.99	▲	13.84	▲	0.72%		
	30_Yr_Bond____	3.30	▲	0.00	▼	-0.06%		

NYSE Volume	 3,047,727,500 	 	 	 	 	  		 
Nasdaq Volume	 1,638,027,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,677.52	▼	-1.66	▼	-0.02%		
	DAX_____	9,154.14	▼	-55.94	▼	-0.61%		
	CAC_40__	4,217.22	▲	14.44	▲	0.34%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,533.30	▼	-14.30	▼	-0.26%		
	Shanghai_Comp	2,223.33	▲	38.03	▲	1.74%		
	Taiwan_Weight	9,330.19	▲	63.68	▲	0.69%		
	Nikkei_225___	15,474.50	▼	-48.61	▼	-0.31%		
	Hang_Seng.__	24,600.08	▲	67.65	▲	0.28%		
	Strait_Times.__	3,318.40	▼	-26.02	▼	-0.78%		
	NZX_50_Index_	5,090.69	▼	-19.25	▼	-0.38%		

http://finance.yahoo.com/news/stocks-stage-day-rally-utilities-202853487.html

*Stocks stage late-day rally; Utilities lag

US stocks advance in late-day rally; investors reassess after last week's major losses*
Associated Press
By Ken Sweet, AP Business Writer

NEW YORK (AP) -- The stock market staged a late-day rally Monday, helping push the Dow Jones industrial average higher for the first time in a week.

Investors had a couple pieces of positive news to get behind: a decent earnings report from Berkshire Hathaway and the announcement of a rescue package for a struggling Portuguese bank.

However, investors remain cautious after last week's sell-off, which gave the Standard & Poor's 500 index its worst five-day period in more than two years.

"Everyone is double-checking their own portfolio after what happened last week," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago.

The Dow rose 75.91 points, or 0.5 percent, to 16,569.28. It's the first time the blue chip index has posted a gain since July 28.

The Standard & Poor's 500 index rose 13.84 points, or 0.7 percent, to 1,938.99 and the Nasdaq composite added 31.25 points, or 0.7 percent, to 4,383.89.

Berkshire Hathaway, the company run by Warren Buffett, helped give the market an early boost Monday.

The Omaha, Nebraska-based company reported late Friday a profit of $6.4 billion last quarter, helped by its insurance division Geico, which performed well above Wall Street's expectations. Berkshire's investment portfolio was also a big driver of profits. The company's Class B stock rose $3.89, or 3 percent, to $129.70, one of the biggest gain in the S&P 500.

Michael Kors was the biggest decliner in the S&P 500, falling $4.82, or 6 percent, to $77.01. While the handbag and women's fashion company reported a rise in second quarter earnings, the company's profit margin shrank for the second consecutive quarter.

The news out of Portugal also helped the market.

Portugal's central bank said late Sunday it would shore up Banco Espirito Santo, one of the country's biggest financial institutions. Portugal's PSI 20 index rose 1 percent on the news.

Portugal's banking woes were one of many catalysts for last week's market sell-off. While Portugal's economy is small, strategists say that the eurozone's economy is fragile enough that Portugal's woes could spread. Europe just exited its latest recession a year ago, while the U.S. emerged from its last recession in 2009.

The tensions between Europe and Russia, the eurozone's biggest trading partner, over the ongoing conflict in Ukraine only added to the problems facing the continent.

"These types of things are going to hurt the European economy and it couldn't impact the region at a worse time," Ablin said.

Last week's market rout, where the S&P 500 fell nearly 3 percent in five days, remains front and center in investors' minds. It was the worst week for the index since June 2012. With Monday's gains, it was the Dow's third positive day in the last 10 sessions.

"There does appear to be a little caution in the markets," said Alpari analyst Craig Erlam. "Investors are a little concerned that the sell-off which started last week is not over and could lead to something much bigger."

Utility stocks were among the biggest decliners. Consolidated Edison, PG&E and Duke Energy fell roughly 1 percent. The Dow Jones utility index, which includes 15 utility stocks, fell 1 percent.

Currency markets were flat. The dollar was steady at 102.56 yen and the euro held at $1.3422.

In energy, oil rose for the first day in a week. Benchmark U.S. crude oil rose 41 cents to $98.29 a barrel on the New York Mercantile Exchange.

The yield on the 10-year Treasury note was flat at 2.49 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-139.81	points or ▼	-0.84%	on	Tuesday, 5 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,429.47	▼	-139.81	▼	-0.84%		
	Nasdaq____	4,352.84	▼	-31.05	▼	-0.71%		
	S&P_500___	1,920.21	▼	-18.78	▼	-0.97%		
	30_Yr_Bond____	3.28	▼	-0.02	▼	-0.49%		

NYSE Volume	 3,437,129,000 	 	 	 	 	  		 
Nasdaq Volume	 1,867,664,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,682.48	▲	4.96	▲	0.07%		
	DAX_____	9,189.74	▲	35.60	▲	0.39%		
	CAC_40__	4,232.88	▲	15.66	▲	0.37%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,511.50	▼	-21.80	▼	-0.39%		
	Shanghai_Comp	2,219.95	▼	-3.39	▼	-0.15%		
	Taiwan_Weight	9,141.44	▼	-188.75	▼	-2.02%		
	Nikkei_225___	15,320.31	▼	-154.19	▼	-1.00%		
	Hang_Seng.__	24,648.26	▲	48.18	▲	0.20%		
	Strait_Times.__	3,327.67	▲	9.27	▲	0.28%		
	NZX_50_Index_	5,104.16	▲	13.48	▲	0.26%		

http://finance.yahoo.com/news/us-stocks-sink-renewed-russia-202939650.html

*US stocks sink on renewed Russia-Ukraine tensions

Stocks drop on concerns about increased Ukraine-Russia tensions; Energy stocks are hardest hit*
Associated Press
By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Renewed concerns that tensions could flare up between Russian and Ukraine pushed U.S. stocks sharply lower Tuesday.

The market had been moderately lower all day, weighed down by a disappointing earnings forecast from retail giant Target and a report on China that showed the world's second-largest economy was slowing down.

The selling accelerated in afternoon trading. The Dow Jones industrial average fell nearly 200 points at one point, but recovered some of those losses in the last 30 minutes of trading.

Several traders pointed to news reports of a buildup in Russian troops on the Ukraine border and comments from a Polish politician that reportedly said Russia was poised to invade or pressure Ukraine's eastern border as catalysts for the selling.

The developments came after the most recent round of sanctions were imposed on Russia by the U.S. and Europe last week. Russia called Tuesday for a meeting of the U.N. Security Council to discuss the situation in Ukraine.

The Ukraine-Russia tensions were "outweighing any good economic data" that investors had to work with Tuesday, said Tom di Galoma, a bond trader at ED&F Mann Capital.

The Dow lost 139.81 points, or 0.8 percent, to 16,429.47, the lowest level for the index since mid-May. The Standard & Poor's 500 index lost 18.78 points, or 1 percent, to 1,920.21 and the Nasdaq composite fell 31.05 points, or 0.7 percent, to 4,352.84.

The tensions between Russia and Ukraine have been a headache for investors for months now. However the stakes are higher than before, investors say.

With winter a few months away, Europe's recovering economy remains dependent on Russian natural gas for heat and electricity. Germany imports nearly all its natural gas from Russia, and France also gets a significant amount of its energy needs from Russia.

"Europe's economy is far more exposed to Russia than the U.S.," said Randy Frederick, a managing director at Charles Schwab.

Tuesday's losses add to what has been a tough couple of weeks for U.S. markets. The S&P 500 fell 2.7 percent last week, its worst five-day performance since June 2012. While the market did recover some Monday, Tuesday's losses wiped out those gains, leaving the Dow and S&P 500 lower for the week.

International events have been in the forefront of investors' minds for the last two weeks, and have been a major reason stocks have fallen. There was the near-failure of a Portuguese bank, Argentina defaulting on its bonds, the Israeli-Gaza conflict on top of the tensions between the U.S., Europe and Russia over Ukraine. Strategists say investors are in a wait-and-see mode.

"Once these geopolitical issues calm down, we should move higher from here," Frederick said.

One sign of investor nervousness can be seen in the VIX, a financial instrument that gauges how much stock market volatility investors expect in the future. The VIX jumped 10 percent to 16.71 on Tuesday. The index is trading at levels not seen since April and was as low as 11 just two weeks ago. The higher the index goes, the more turbulence investors expect to see in the future.

Investors did get two positive reports on the U.S. economy, but it was not enough to move the market higher.

The Institute for Supply Management said the U.S. services sector expanded in July more than expected. The ISM survey came in at 58.7 versus the 56.5 economists had predicted. June factory orders also rose more than expected, rising 1.1 percent compared to the 0.6 percent increase economists were looking for.

Among individual stocks, Target dropped $2.67, or 4.4 percent, to $58.03 after the company lowered its second-quarter earnings forecast. Target said the massive data breach the company experienced last year was costing far more than previously expected. Shoppers remain cautious about shopping at the store, Target said.

Twenty-First Century Fox rose 7 percent in after-market trading after Rupert Murdoch's media company said it was pulling its bid to buy Time Warner. Shares of Time Warner dropped 11 percent in after-market trading following the news.

The dollar rose to 102.56 yen and the euro dipped to $1.3377.

In energy markets, crude oil fell 91 cents to close at $97.38 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 80 cents to close at $104.61 on the ICE Futures exchange in London.

Gold fell $3.70 to $1,284.00 an ounce and silver fell 40 cents to $19.83 an ounce. Copper fell four cents to $3.20 a pound.

The yield on the 10-year Treasury note was unchanged from the day before at 2.48 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	13.87	points or ▲	0.08%	on	Wednesday, 6 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,443.34	▲	13.87	▲	0.08%		
	Nasdaq____	4,355.05	▲	2.22	▲	0.05%		
	S&P_500___	1,920.24	▲	0.03	▲	0.00%		
	30_Yr_Bond____	3.28	▲	0.00	▼	-0.06%		

NYSE Volume	 3,493,063,000 	 	 	 	 	  		 
Nasdaq Volume	 1,780,602,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,636.16	▼	-46.32	▼	-0.69%		
	DAX_____	9,130.04	▼	-59.70	▼	-0.65%		
	CAC_40__	4,207.14	▼	-25.74	▼	-0.61%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,504.00	▼	-7.50	▼	-0.14%		
	Shanghai_Comp	2,217.46	▼	-2.48	▼	-0.11%		
	Taiwan_Weight	9,143.97	▲	2.53	▲	0.03%		
	Nikkei_225___	15,159.79	▼	-160.52	▼	-1.05%		
	Hang_Seng.__	24,584.13	▼	-64.13	▼	-0.26%		
	Strait_Times.__	3,320.23	▼	-7.44	▼	-0.22%		
	NZX_50_Index_	5,092.23	▼	-11.94	▼	-0.23%		

http://finance.yahoo.com/news/stocks-stabilize-molson-coors-jumps-202955015.html

*Stocks stabilize; Molson Coors jumps on earnings

Stocks stabilize; Molson Coors jumps on earnings while Sprint drops on merger news*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- U.S. stocks stabilized on Wednesday after energy stocks and earnings from a major beer brewer helped the market stem its recent declines.

The stock market ended the day little changed after a sizable drop a day earlier, when Russia massed troops near its border with Ukraine.

Molson Coors was the biggest gainer in the Standard & Poor's 500 index after the company reported better-than-forecast earnings. Rupert Murdoch's 21st Century Fox rose after the company said it was dropping a bid to acquire Time Warner.

The stock market has become more volatile in recent weeks and last month slumped to its first monthly decline since January. Investors are weighing signs that the U.S. economy is strengthening against the threat of an escalating conflict in Ukraine, as well as the prospect of the Federal Reserve raising its benchmark interest rate.

"On the one hand the U.S. economy is really starting to look good, but on the other hand the markets are certainly jittery about what's going on in Ukraine and Russia," said Anastasia Amoroso, Global Markets Strategist at J.P. Morgan Funds.

The S&P 500 rose a fraction of a point, or less than 0.1 percent, to 1,920.24. The index lost 18 points, or 1 percent, on Tuesday. The index is still up on the year, but has dropped 3.5 percent from its record close set July 24.

The Dow Jones industrial average rose 13.87 points, or 0.1 percent, to 16,443.34. The Nasdaq composite rose 2.2 points, or 0.1 percent, to 4,355.05.

Molson Coors rose $3.87, or 5.8 percent, to $71.08 after the company said its second-quarter profit rose 9 percent as better pricing offset a global decline in the volume of beer sales.

As well as watching earnings, investors were looking at two merger bids that unraveled.

Sprint plunged $1.38, or 19 percent, to $5.90 after the company said it was abandoning its pursuit of T-Mobile US. Sprint would have struggled to convince regulators to approve a merger of the No. 3 and No. 4 cellphone carriers in the nation, according to The Wall Street Journal. Sprint is also replacing its longtime CEO.

Time Warner fell $10.95, or 12.9 percent, to $74.24 after Rupert Murdoch's 21st Century Fox said it was dropping its attempt to take over the company. The deal would have combined two of the world's biggest media conglomerates. 21st Century Fox rose $1.03, or 3.3 percent, to $32.33.

U.S. government bond prices rose. The yield on the 10-year Treasury note declined to 2.47 percent from 2.48 percent on Tuesday. In commodities trading, gold rose $22.90, or 1.8 percent, to $1,308.20 an ounce. Silver rose 19 cents, or 1 percent, to $20.02 an ounce.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-75.07	points or ▼	-0.46%	on	Thursday, 7 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,368.27	▼	-75.07	▼	-0.46%		
	Nasdaq____	4,334.97	▼	-20.08	▼	-0.46%		
	S&P_500___	1,909.57	▼	-10.67	▼	-0.56%		
	30_Yr_Bond____	3.23	▼	-0.04	▼	-1.31%		

NYSE Volume	 3,211,668,250 	 	 	 	 	  		 
Nasdaq Volume	 1,804,737,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,597.37	▼	-38.79	▼	-0.58%		
	DAX_____	9,038.97	▼	-91.07	▼	-1.00%		
	CAC_40__	4,149.83	▼	-57.31	▼	-1.36%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,500.70	▼	-3.30	▼	-0.06%		
	Shanghai_Comp	2,187.67	▼	-29.80	▼	-1.34%		
	Taiwan_Weight	9,131.44	▼	-12.53	▼	-0.14%		
	Nikkei_225___	15,232.37	▲	72.58	▲	0.48%		
	Hang_Seng.__	24,387.56	▼	-196.57	▼	-0.80%		
	Strait_Times.__	3,314.22	▼	-6.01	▼	-0.18%		
	NZX_50_Index_	5,097.51	▲	5.28	▲	0.10%		

http://finance.yahoo.com/news/asian-shares-lower-ahead-central-bank-meetings-031338429--finance.html

*Stocks decline on concerns about global growth*
Associated Press
By STEVE ROTHWELL

NEW YORK (AP) — Concerns about slowing global growth and the threat of rising tensions between Russia and the West pushed stocks lower on Thursday.

The stock market started the day higher as investors mulled the latest earnings reports and an encouraging report on jobs. By mid-morning, though, the market had given up its gains. While stocks slumped, government bond prices rose, pushing the yield on the 10-year Treasury note to its lowest level this year.

Stocks have slumped since the Standard & Poor's 500 index closed at a record last month amid worries that the rising tensions between Russia and the West will hurt global economic growth. European Central Bank head Mario Draghi cautioned Thursday that the crisis in Ukraine could crimp the fragile recovery in the region.

"You're getting some good earnings, but it's just not enough to overwhelm the geo-political issues," said Drew Wilson, an equity analyst with Fenimore Asset Management.

The S&P 500 index fell 10.67 points, or 0.6 percent, to 1,909.57. The index closed at a record 1,987.98 on July 24. The Dow Jones industrial average fell 75.07 points, or 0.5 percent, to 16,368.27. The Nasdaq composite fell 20 points, or 0.5 percent, to 4,334.97.

Phone and internet companies were among the day's biggest decliners. Windstream Holdings fell 39 cents, or 3.4 percent, to $11.16 after the company reported that its earnings fell by 64 percent in the second quarter. The results missed analysts' expectations.

Eight of the 100 industry sectors in the S&P 500 fell. Health care and phone company stocks dropped the most, 1.2 percent and 1 percent respectively. Utilities stocks rose 1.1 percent, making them the biggest gainers, as investors bought safer assets.

The market had started the day higher as investors assessed the latest encouraging news from the job market.

Fewer people applied for U.S. unemployment benefits last week. Claims remain at relatively low levels consistent with stronger economic growth. Weekly applications fell 14,000 to 289,000, the Labor Department said.

Some positive earnings reports helped lift stocks in early trading.

21st Century Fox rose $1.63, or 5 percent, to $33.96 after reporting better-than-expected fourth-quarter earnings late Wednesday. The company got a boost from films including "X-Men," ''Rio 2," and "The Fault in Our Stars." The company was adding to gains from a day earlier after dropping its bid for Time Warner and announcing a stock buyback.
View gallery
Specialist Charles Boeddinghaus works at his post on&nbsp;&hellip;
Specialist Charles Boeddinghaus works at his post on the floor of the New York Stock Exchange Thursd …

The gains for stocks were short-lived Thursday. The market started to head lower by lunchtime, and as stocks slumped, bond prices rose.

The yield on the 10-year Treasury note, which falls when prices rise, dropped to 2.41 percent from 2.48 percent on Wednesday. The yield on the note is at its lowest level in more than a year.

At the start of this year, many investors and analysts had expected 10-year Treasurys to fall as the economy continued its recovery and the Federal Reserve wound down its economic stimulus program. Instead, the opposite has happened. Bonds have rallied as inflation has remained low and doubts have arisen about the prospects for long-term growth.

U.S. Treasury securities also offer a higher yield than bonds issued by other governments. The yield on the 10-year German government bond is 1.06 percent, and French government bonds with the same maturity offer a yield of 1.5 percent.

Investors are also buying Treasuries as geopolitical tensions rise around the world.

"The Treasury market is going to continue to confound the bears," said Bill O'Donnell, chief Treasury strategist at RBS.

In commodities trading, the price of oil rose Thursday for only the second day in the past nine. There are concerns about intensifying violence in Iraq as the White House weighs air strikes to counter recent advances by insurgents.

Benchmark U.S. crude oil rose 42 cents to close at $97.34 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 85 cents to close at $105.44 on the ICE Futures exchange in London.

In metals trading, gold rose $4.30 to $1,312.50 an ounce and silver fell three cents to $19.99 an ounce. Copper rose a penny to $3.18 a pound. In currencies, the dollar fell to 102.03 yen and the euro fell to $1.3364.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	185.66	points or ▲	1.13%	on	Friday, 8 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,553.93	▲	185.66	▲	1.13%		
	Nasdaq____	4,370.90	▲	35.93	▲	0.83%		
	S&P_500___	1,931.59	▲	22.02	▲	1.15%		
	30_Yr_Bond____	3.23	▼	-0.01	▼	-0.25%		

NYSE Volume	 2,867,788,250 	 	 	 	 	  		 
Nasdaq Volume	 1,717,553,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,567.36	▼	-30.01	▼	-0.45%		
	DAX_____	9,009.32	▼	-29.65	▼	-0.33%		
	CAC_40__	4,147.81	▼	-2.02	▼	-0.05%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,429.60	▼	-71.10	▼	-1.29%		
	Shanghai_Comp	2,194.42	▲	6.76	▲	0.31%		
	Taiwan_Weight	9,085.96	▼	-45.48	▼	-0.50%		
	Nikkei_225___	14,778.37	▼	-454.00	▼	-2.98%		
	Hang_Seng.__	24,331.41	▼	-56.15	▼	-0.23%		
	Strait_Times.__	3,288.89	▼	-25.33	▼	-0.76%		
	NZX_50_Index_	5,055.20	▼	-42.31	▼	-0.83%		

http://finance.yahoo.com/news/us-stocks-buck-turmoil-weighing-213526258.html

*US stocks buck turmoil weighing on global markets

US stocks rally to end lackluster week amid market drops elsewhere over political turmoil*
Associated Press
By Bernard Condon, AP Business Writer

NEW YORK (AP) -- A burst of buying Friday in U.S. stocks defied slumps in other markets and offered hope for investors shaken by geopolitical turmoil. Major U.S. stock indexes closed up around 1 percent, buoyed by signs that tensions in Ukraine might be easing.

The rally on Wall Street contrasted with price declines in European and Asian stock markets. Fear has been creeping into stock and bond markets around the world in recent weeks against a backdrop of escalating global conflicts.

News Friday of U.S. fighter jets dropping bombs in Iraq and the end of a three-day cease-fire in Gaza weighed further on European and Asian markets. The declines there capped broad losses for the week, including a 5 percent drop in Japan's major stock index.

As anxieties have risen in recent days, money has been flowing from around the world into U.S. Treasurys, the perennial safe haven for spooked investors.

U.S. stock markets bucked the trend Friday as investors snapped up shares that had been beaten down in recent days. The buying surged late in the day on reports that Russia had ended military exercises near Ukraine. The Dow Jones industrial average surged 1.1 percent, its biggest gain since March. The index remains 3.4 percent below its record high set July 16.

Jim Paulsen, chief investment strategist at Wells Capital Management, said he wasn't surprised by the Wall Street rally.

"The U.S. economy will grow at 3 percent or 4 percent for the rest of the year," Paulsen said. "Are geopolitical risks really going to have an economic impact?"

It's a question that's been unsettling investors.

In June and most of July, prices in major stock indexes in the United States rose even in the face of the widening conflicts around the world. Some experts warned that markets had grown dangerously complacent.

But then the West imposed increasingly crushing sanctions on Russia for supporting rebels in Ukraine. Israel's bloody war in Gaza dragged on. And Sunni extremists made advances in northern Iraq.

Prices then began a sustained decline, even in resilient U.S. markets. U.S. stocks in July posted their first monthly loss since January.

The fear has driven up various government bond prices, too, and sent yields down. The yield on German government notes maturing in 10 years, for instance, hit an all-time low Friday. The yield on U.S. notes of the same maturity has reached its lowest level in about a year.

Another sign of worry, the VIX, a gauge of expectation of future U.S. stock volatility, has climbed nearly 50 percent since early July.

One fear is that Europe could fall back into another recession after having emerged from one last year. The economies of the 18 countries that share the euro currency are barely growing, and many of them depend on Russia for natural gas imports. Germany imports nearly all its natural gas from Russia.

This week, the head of the European Central Bank, Mario Draghi, warned that the crisis in Ukraine could hurt the fragile recovery in the region.

The troubles in Iraq also threaten oil supplies. A report from Citigroup to clients early Friday noted that Iraq is the fastest-growing supplier among OPEC members.

Benchmark U.S. crude oil rose 31 cents to close at $97.65 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 42 cents to close at $105.02 on the ICE Futures exchange in London.

The Citi report also noted, though, that there was reason to keep buying stocks, not the least of which is strong corporate earnings.

An announcement from Gap on Friday underscored that trend. It reported that sales increased 3 percent in the second quarter as growth at Old Navy offset lower sales of the company's namesake brand. Its stock jumped $2.37, or 6 percent, to $42.57.

With nearly all second-quarter results for S&P 500 companies out, analysts are calling for earnings in that index to jump 10 percent from a year earlier. At the beginning of July, they expected a gain of less than 7 percent, according to S&P Capital IQ, a data provider.

On Friday, the Dow ended up 185.66 points, or 1.1 percent, to 16,553.93. The Standard & Poor's 500 index rose 22.02 points, or 1.2 percent, to 1,931.59. The Nasdaq composite rose 35.93 points, or 0.83 percent, to 4,370.90.

In economic news, the U.S. Labor Department reported that workers were more productive in the April-June quarter and that labor costs rose slightly, a sharp turnaround from grim first-quarter figures. Productivity increased 2.5 percent at a seasonally adjusted annual rate, after plummeting 4.5 percent in the first quarter.

In Europe, Germany's DAX fell 0.3 percent while the FTSE 100 index of British shares dropped 0.5 percent. Both indexes are down about 2 percent for the week, capping three weeks of losses.

France's CAC-40 was flat, but ended the week down 1.3 percent. That was its third straight weekly loss.

In corporate news, shares of Lululemon Athletica rose $1.08, or 3 percent, to $40.11. The company's founder and former chairman, Dennis "Chip" Wilson, has agreed to sell half his stake as part of a truce to avert a potentially battle for control of the retailer of yoga apparel and other exercise gear.

In metals trading, gold fell $1.50 to $1,311 an ounce and silver fell five cents to $19.94 an ounce. Copper was flat at $3.17 a pound.

The yield on the 10-year Treasury note edged up to 2.42 percent from 2.41 percent late Thursday.

0776


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	16.05	points or ▲	0.10%	on	Monday, 11 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,569.98	▲	16.05	▲	0.10%		
	Nasdaq____	4,401.33	▲	30.43	▲	0.70%		
	S&P_500___	1,936.92	▲	5.33	▲	0.28%		
	30_Yr_Bond____	3.23	▲	0.01	▲	0.19%		

NYSE Volume	 2,772,622,000 	 	 	 	 	  		 
Nasdaq Volume	 1,500,651,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,632.82	▲	65.46	▲	1.00%		
	DAX_____	9,180.74	▲	171.42	▲	1.90%		
	CAC_40__	4,197.70	▲	49.89	▲	1.20%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,449.40	▲	19.80	▲	0.36%		
	Shanghai_Comp	2,224.65	▲	30.23	▲	1.38%		
	Taiwan_Weight	9,172.91	▲	86.95	▲	0.96%		
	Nikkei_225___	15,130.52	▲	352.15	▲	2.38%		
	Hang_Seng.__	24,646.02	▲	314.61	▲	1.29%		
	Strait_Times.__	3,310.16	▲	21.27	▲	0.65%		
	NZX_50_Index_	5,049.63	▼	-5.57	▼	-0.11%		

http://finance.yahoo.com/news/us-stocks-edge-higher-corporate-200650918.html

*US stocks edge higher on corporate news, earnings

US stocks extend rebound on easing of Ukraine tensions as investors focus on corporate news*
Associated Press
By Steve Rothwell, AP Markets Writer 

NEW YORK (AP) -- U.S. stocks gained on Monday as investors focused on corporate news instead of geopolitical worries.

Kinder Morgan surged after announcing that it would combine a group of businesses that it controls to create the fourth-biggest U.S. energy company by market value. Banana seller Chiquita Brands International soared after the company received a $611 million buyout offer.

The stock market was extending a rebound from Friday when it logged its biggest one-day gain in five months following signs that tensions in Ukraine might be easing. In July stocks had slumped as tensions between Russia and the West had escalated.

"We're hopeful that geopolitical tensions will ramp down," said Jim Russell, a regional investment director at US Bank. "The fundamental economic backdrop remains pretty firm, even though investment sentiment remains less than certain."

The Standard & Poor's 500 index rose 5.33 points, or 0.3 percent, to 1,936.92. The Dow Jones industrial average climbed 16.05 points, or 0.1 percent, to 16,569.98 percent. The Nasdaq composite gained 30.43 points, or 0.7 percent, to 4,401.33.

Kinder Morgan was the biggest gainer in the S&P 500. The energy company rose $3.25, or 9 percent, to $39.37 after the company said Sunday that the group of oil and gas pipeline and storage companies that it controls will combine.

Investors were also tracking corporate earnings reports.

Shares of Priceline Group rose $27.72, or 2.2 percent, to $1,309.20 after the company reported second-quarter earnings that topped Wall Street expectations. The online travel company said the summer season got off to a strong start. Shares of rival Expedia gained $1.39, or 1.7 percent, to $83.94.

More than 90 percent of the companies in the S&P 500 index have now reported earnings for the second quarter.

Company earnings are expected to grow by 10.1 percent in the period, according to data from S&P Capital IQ. That compares with growth of 4.9 percent in the second quarter last year and growth of 3.4 percent in the first quarter.

Stocks have also been getting a lift as the flow of mergers and acquisitions has picked up this year.

On Monday, Chiquita Brands International surged $3.04, or 30 percent, to $13.10 after the company received a buyout offer from investment firm Safra Group and the Brazilian agribusiness and juice company Cutrale Group.

Safra and Cutrale are offering $13 per share, a 29 percent premium to Chiquita's closing price of $10.06 on Friday. Chiquita said its board would review it and asked shareholders to await its recommendation. The unsolicited bid disclosed Monday comes as Chiquita and Fyffes of Ireland were working on their own transaction. The two companies agreed in March to merge in a stock-for-stock deal to create the world's biggest banana supplier.

Even though stocks have rallied over the last two days, investors should get used to the prospect of increased volatility in the market as the Federal Reserve nears the end of its economic stimulus program and gets closer to raising interest rates, said Kristina Hooper, US Investment Strategist at Allianz Global Investors.

"Stocks are a lot more vulnerable with markets pricing in a less accommodative Fed," said Hooper.

U.S. government bond prices were little changed. The yield on the 10-year Treasury note held at 2.42 percent from Friday, close to its lowest level in a year.

Longer-dated Treasury notes and bonds have surged this year even though the Federal Reserve is winding down its economic stimulus and purchasing fewer bonds. Analysts say that demand for the notes has increased because the yields on the bonds of other developed nations have fallen further. The yield on the 10-year German government bond is 1.06 percent and the yield on France's government bonds with a similar maturity is 1.47 percent.

In commodities trading, gold was little changed at $1,310.50 an ounce. Silver rose 15 cents, or 0.8 percent, to $20.10 an ounce. Copper was little changed at $3.18 a pound. The price of oil rose 43 cents, or 0.4 percent, to $98.08.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-9.44	points or ▼	-0.06%	on	Tuesday, 12 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,560.54	▼	-9.44	▼	-0.06%		
	Nasdaq____	4,389.25	▼	-12.08	▼	-0.27%		
	S&P_500___	1,933.75	▼	-3.17	▼	-0.16%		
	30_Yr_Bond____	3.27	▲	0.03	▲	1.05%		

NYSE Volume	 2,588,168,500 	 	 	 	 	  		 
Nasdaq Volume	 1,533,950,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,632.42	▼	-0.40	▼	-0.01%		
	DAX_____	9,069.47	▼	-111.27	▼	-1.21%		
	CAC_40__	4,162.16	▼	-35.54	▼	-0.85%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,523.10	▲	73.70	▲	1.35%		
	Shanghai_Comp	2,221.59	▼	-3.06	▼	-0.14%		
	Taiwan_Weight	9,163.12	▼	-9.79	▼	-0.11%		
	Nikkei_225___	15,161.31	▲	30.79	▲	0.20%		
	Hang_Seng.__	24,689.41	▲	43.39	▲	0.18%		
	Strait_Times.__	3,304.97	▼	-1.48	▼	-0.04%		
	NZX_50_Index_	5,055.81	▲	6.18	▲	0.12%		

http://finance.yahoo.com/news/us-stocks-fall-geopolitical-risks-185538140.html

*US stocks fall as geopolitical risks remain

Stock market slips as geopolitical tensions show signs of putting pressure on economic growth*
Associated Press
By Ken Sweet, AP Business Writer 

NEW YORK (AP) -- The stock market pulled back slightly Tuesday, following two days of gains, as investors focused on the damage that ongoing geopolitical tensions were causing the global economy.

Energy stocks were among the biggest decliners, dragged down by lower oil prices.

U.S. stock indexes opened modestly higher but turned lower at mid-morning and stayed there for the rest of the day. Investors took a cue from Europe, where Germany's benchmark index fell more than 1 percent and France's CAC 40 fell nearly 1 percent.

An indicator of German investor confidence dropped to its lowest level in 20 months. Investors worried that the Ukraine crisis will start dragging down the German economy, Europe's largest. The continent is much more exposed to Russia than the U.S. is. Europe also gets most of its natural gas from Russia.

The Ukraine situation has dragged the German stock market down more than 8 percent from its early July peak.

"The Ukraine-Russia situation may be at a standstill politically, but it is weighing on the German economy and, more broadly, the eurozone," said Sean Lynch, a managing director at Wells Fargo Private Bank.

It has been a quiet week for investors overall, with little economic data or company earnings to work through. Absent hard data to pull the market higher, the current trend for the market is down, Lynch said.

Fears of a Russian invasion of Ukraine have faded in recent days, but worries about conflicts around the globe are likely to keep investors on edge in the coming weeks.

A convoy of more than 260 Russian trucks, reportedly packed with supplies, moved toward Russia's border with Ukraine on Tuesday, but Kiev said the goods would only be allowed to cross if they were inspected by the International Red Cross. Ukraine is fearful that Russia could use the move as a cover for sending troops into the separatist-held territory.

Investors are also watching political machinations and violence unfold in oil-rich Iraq. On Tuesday, that nation's embattled prime minister, Nouri al-Maliki, tried to stay in power as Iraqi politicians and the international community rallied behind a political competitor.

The Dow Jones industrial average lost 9.44 points, or 0.1 percent, to 16,560.54. The Standard & Poor's 500 index fell 3.17 points, or 0.2 percent, to 1,933.75 and the Nasdaq composite fell 12.08 points, or 0.3 percent, to 4,389.25.

Energy stocks in the S&P 500 fell 0.7 percent, the most of the 10 sectors in the index. Kinder Morgan declined nearly 2 percent after rising 9 percent the day before on news it would combine several companies under its control. Anadarko Petroleum and Diamond Offshore Drilling fell more than 2 percent.

Energy stocks have declined noticeably in the last month, due largely to falling oil and natural gas prices. Brent crude, which is traded in the U.K. and is considered a broader gauge of the international oil market, is trading at a nine-month low. U.S. crude is trading at a seven-month low.

The price of U.S. crude oil slipped 71 cents to $97.37 a barrel Tuesday. That followed three days of increases over concerns about the reliability of Iraqi oil production.

There were other signs that investors were in a "risk-off" mode. The Russell 2000 index, which is made up primarily of smaller and riskier companies, fell 0.8 percent, much more than the rest of the market.

In individual stocks, Kate Spade plunged $9.87, or 25 percent, to $29 after executives for the handbag company warned that sales growth could slow this year and profit margins were being hit. The comments came after Kate Spade reported a better-than-expected quarterly profit.

The yield on the 10-year Treasury note rose to 2.45 percent. In metals trading, gold rose 10 cents to $1,310.60 an ounce, silver fell 19 cents to $19.51 an ounce and copper fell two cents to $3.15 a pound.


----------



## John Swift

Lol... Is it me or do these guys seem to just look at the direction of the market and then randomly correlate it with some other piece of news?

5/8/14: Renewed concerns that tensions could flare up between Russian and Ukraine pushed U.S. stocks sharply lower Tuesday.

6/8/14: The stock market ended the day little changed after a sizable drop a day earlier, when Russia massed troops near its border with Ukraine.

7/8/14: Concerns about slowing global growth and the threat of rising tensions between Russia and the West pushed stocks lower on Thursday.

8/8/14: A burst of buying Friday in U.S. stocks defied slumps in other markets and offered hope for investors shaken by geopolitical turmoil.

11/8/14: U.S. stocks gained on Monday as investors focused on corporate news instead of geopolitical worries.

12/8/14: The stock market pulled back slightly Tuesday, following two days of gains, as investors focused on the damage that ongoing geopolitical tensions were causing the global economy.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	91.26	points or ▲	0.55%	on	Wednesday, 13 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,651.80	▲	91.26	▲	0.55%		
	Nasdaq____	4,434.13	▲	44.87	▲	1.02%		
	S&P_500___	1,946.72	▲	12.97	▲	0.67%		
	30_Yr_Bond____	3.24	▼	-0.03	▼	-0.77%		

NYSE Volume	 2,694,713,250 	 	 	 	 	  		 
Nasdaq Volume	 1,581,883,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,656.68	▲	24.26	▲	0.37%		
	DAX_____	9,198.88	▲	129.41	▲	1.43%		
	CAC_40__	4,194.79	▲	32.63	▲	0.78%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,507.90	▼	-15.20	▼	-0.28%		
	Shanghai_Comp	2,222.88	▲	1.28	▲	0.06%		
	Taiwan_Weight	9,231.31	▲	68.19	▲	0.74%		
	Nikkei_225___	15,213.63	▲	52.32	▲	0.35%		
	Hang_Seng.__	24,890.34	▲	200.93	▲	0.81%		
	Strait_Times.__	3,301.41	▼	-1.98	▼	-0.06%		
	NZX_50_Index_	5,054.70	▼	-1.10	▼	-0.02%		

http://finance.yahoo.com/news/stocks-mostly-higher-japan-shrugs-off-gdp-drop-083238367--finance.html

*US indexes move higher; Amazon gains, Macy's drops*
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) — A modest gain for the stock market on Wednesday tugged the Dow Jones industrial average back into the black for the year as investors set aside concerns about Ukraine, Iraq and earnings, at least for a day.

Amazon led the gains in light trading, despite a mixed batch of economic and corporate news. The gains were broad but thin. Three companies rose for every one that fell on the New York Stock Exchange, and all 10 sectors in the S&P 500 ended higher.

"This is a very resilient market," said Uri Landesman, president of Platinum Partners, a hedge fund in New York.

Markets have turned choppy in recent weeks as investors have weighed a host of concerns. At times, worries over global conflicts and Europe's economy have overshadowed signs of steady growth in the U.S. economy and rising corporate profits. Landesman pointed to plenty of reasons for traders to ditch stocks this summer, including high prices.

"We're getting through the summer and the market is still pretty close to its high," he said. "It shows you the trend is still upward."

Amazon, the online retail giant, unveiled a new payment system for mobile phones. The device, called Amazon Local Register, is aimed at helping small businesses accept payments through smartphones and tablets. Amazon's stock gained $6.96, or 2 percent, to $326.28.

The S&P 500 rose 12.97 points, or 0.7 percent, to end at 1,946.72. The Dow gained 91.26 points, or 0.6 percent, to 16,651.80, the first time in August that the 30-stock average has been in positive territory for the year.

The tech-heavy Nasdaq composite climbed 44.87 points, or 1 percent, to 4,434.13.

Of the handful of companies reporting quarterly results on Wednesday, a few well-known names warned of sliding sales and shrinking profits. Macy's turned in results that fell short of Wall Street's forecasts. The department store chain also cut its full-year outlook for sales, saying it couldn't make up from a shortfall at the start of the year when winter storms kept shoppers at home. The company's stock dropped $3.29, or 6 percent, to $56.47.

Deere & Co., the country's largest maker of farm equipment, said weak sales will likely cut into its earnings for the entire year. Deere dropped $1.99, or 2 percent, to $84.49.

King Digital Entertainment, maker of the "Candy Crush Saga" video game, plunged 23 percent. The company reported second-quarter sales that came up short of estimates and also cut its full-year earnings forecast. King's stock lost $4.21 to $13.99.

Despite some high-profile misses, however, overall corporate results for the second quarter have looked solid. With the earnings season drawing to a close, seven out of 10 companies in the S&P 500 have posted stronger profits than analysts projected, according to S&P Capital IQ. Quarterly earnings are on track to climb 10 percent over the year before. That's much better than the 3 percent increase companies reported for the first quarter of 2014.

The Commerce Department said Wednesday that retail sales edged up by a tiny amount compared with the prior month. A separate report said businesses continued adding to their stockpiles in June. A greater amount of goods on store shelves and in warehouses reflects optimism about future demand.

In other trading, Germany's DAX gained 1.4 percent, while France's CAC 40 rose 0.8 percent. Britain's FTSE 100 inched up 0.4 percent. All three indexes have slumped more than 1 percent this month.

In the U.S. government bond market, the yield on the 10-year Treasury note was 2.42 percent, just shy of its low for the year and a drop from 2.45 percent late Tuesday. U.S. crude oil rose 22 cents to $97.59 a barrel in New York.

Elsewhere, gold rose $3.90 to $1,314.50 an ounce, silver slipped 6 cents to $19.85 an ounce and copper fell four cents to $3.11 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	61.78	points or ▲	0.37%	on	Thursday, 14 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,713.58	▲	61.78	▲	0.37%		
	Nasdaq____	4,453.00	▲	18.88	▲	0.43%		
	S&P_500___	1,955.18	▲	8.46	▲	0.43%		
	30_Yr_Bond____	3.19	▼	-0.05	▼	-1.51%		

NYSE Volume	 2,605,324,500 	 	 	 	 	  		 
Nasdaq Volume	 1,527,303,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,685.26	▲	28.58	▲	0.43%		
	DAX_____	9,225.10	▲	26.22	▲	0.29%		
	CAC_40__	4,205.43	▲	10.64	▲	0.25%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,542.90	▲	35.00	▲	0.64%		
	Shanghai_Comp	2,206.47	▼	-16.41	▼	-0.74%		
	Taiwan_Weight	9,230.61	▼	-0.70	▼	-0.01%		
	Nikkei_225___	15,314.57	▲	100.94	▲	0.66%		
	Hang_Seng.__	24,801.36	▼	-88.98	▼	-0.36%		
	Strait_Times.__	3,294.83	▼	-6.58	▼	-0.20%		
	NZX_50_Index_	5,062.41	▲	7.71	▲	0.15%		

http://finance.yahoo.com/news/australian-stocks-lead-asia-healthy-053359438.html

*US stocks creep higher following earnings news*
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) ”” Better corporate earnings helped nudge the stock market up on Thursday in one of the quietest sessions this year.

Health-care companies led the major indexes to slight gains, while Berkshire Hathaway crossed another milestone, trading above $200,000 a share for the first time.

With many who work in the markets on vacation, trading volume on the New York Stock Exchange thinned out: just 2.6 billion shares on Thursday. An average day this year is nearly 1 billion higher.

Stronger profits for Perrigo, a drugmaker, drove its stock up 7 percent, the biggest gain in the Standard & Poor's 500 index. Perrigo jumped $10.14 to end at $149.29. Another drugmaker, Merck, gained 93 cents, or 2 percent, to $58.78 following news that it won federal approval for a new sleeping pill.

The S&P 500 climbed up 8.46 points, or 0.4 percent, to close at 1,955.18. Health care companies led nine of the 10 industry groups in the S&P 500 up.

The Dow Jones industrial average rose 61.78 points, or 0.4 percent, to 16,713.58 while the Nasdaq composite climbed 18.88 points, or 0.4 percent, to 4,453.00.

Markets often slip into a summertime lull in August. Trading desks remain short-staffed until people return from vacation after the Labor Day holiday. Without any major developments, trading volume usually dries up and stock indexes turn sleepy, as if stuck in their beach chairs.

The S&P 500 is still hovering near record highs, leading some analysts to fret that the market looks too expensive. Lawrence Creatura, a fund manager at Federated Investors, argued that the solid second-quarter earnings season, which is nearly wrapped up, should put investors' worries about high prices to rest.

The S&P 500, for instance, has gained nearly 6 percent this year. "That's an interesting number: 6 percent just happens to be the average earnings growth rate over the very long term," he said.

In Thursday trading, the Class A shares of Warren Buffett's Berkshire Hathaway conglomerate crossed the $200,000 mark, making the highest-priced U.S. stock even more expensive. Buffett has never split Berkshire's A shares to make them cheaper, although Berkshire created more affordable Class B shares, which closed Thursday at $135.30 Berkshire's Class A shares rose $3,241, or 2 percent, to end at $202,850.

Kohl's, a department-store chain, turned in quarterly profits that were slightly better than analysts' expectations. Sales slipped but the company cut costs. Kohl's surged $1.80, or 3 percent, to $56.91.

After the market closed Wednesday, Cisco Systems reported falling quarterly sales and profits. The technology company also announced plans to lay off 6,000 workers, roughly 8 percent of its workforce. Cisco's stock dropped 66 cents, or 3 percent, to $24.54.

In Europe, more reports showed the region's economic recovery has stalled. Germany's economy shrank 0.2 percent from April to June, while the French economy stagnated. But both France's CAC 40 and Germany's DAX closed with gains of 0.3 percent. Britain's FTSE 100 rose 0.4 percent.

"Investors appear to be betting that the continued raft of disappointing economic data could compel the European Central Bank to take further steps to help try and boost economic activity before the end of the year," said Michael Hewson, chief market analyst at CMC Markets.

In the market for U.S. government bonds, the yield on the 10-year Treasury note fell to 2.40 percent. Earlier, it touched 2.38 percent, its lowest level this year.

The price of oil fell sharply on speculation that economic weakness in Europe would lead to lower demand for fuel. Benchmark U.S. crude fell $2.01 to close at $95.58 a barrel on the New York Mercantile Exchange, its lowest close since Jan. 21.

In metals trading, the price of gold edged up $1.20 to $1,315.70 an ounce. Silver settled up six cents to $19.91 an ounce. Copper fell two cents to $3.09 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-50.67	points or ▼	-0.30%	on	Friday, 15 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,662.91	▼	-50.67	▼	-0.30%		
	Nasdaq____	4,464.93	▲	11.92	▲	0.27%		
	S&P_500___	1,955.06	▼	-0.12	▼	-0.01%		
	30_Yr_Bond____	3.13	▼	-0.06	▼	-1.79%		

NYSE Volume	 2,975,494,500 	 	 	 	 	  		 
Nasdaq Volume	 1,742,108,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,689.08	▲	3.82	▲	0.06%		
	DAX_____	9,092.60	▼	-132.50	▼	-1.44%		
	CAC_40__	4,174.36	▼	-31.07	▼	-0.74%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,559.60	▲	16.70	▲	0.30%		
	Shanghai_Comp	2,226.73	▲	20.27	▲	0.92%		
	Taiwan_Weight	9,206.81	▼	-23.80	▼	-0.26%		
	Nikkei_225___	15,318.34	▲	3.77	▲	0.02%		
	Hang_Seng.__	24,954.94	▲	153.58	▲	0.62%		
	Strait_Times.__	3,314.77	▲	19.94	▲	0.61%		
	NZX_50_Index_	5,078.08	▲	15.67	▲	0.31%		

http://finance.yahoo.com/news/austr...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Renewed fighting in Ukraine rattles stocks

Renewed conflict in Ukraine rattles financial markets; US bond prices rise*
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Renewed fighting in Ukraine rattled markets on Friday. Reports that Ukrainian forces attacked Russian military vehicles that had crossed the border knocked stock markets down in the afternoon and sent traders into the safety of U.S. government bonds.

By the end of the day, the Standard & Poor's 500 index was back to where it started as investors realized that a wider conflict wasn't underway.

John Canally, the chief economic strategist at LPL Financial, said it's understandable that traders dropped stocks in response to the flare-up. "Anyone who doesn't want to lose their job over the weekend sells first and asks questions later," he said.

Canally suspects the dispute between Russia and Ukraine will likely follow the pattern of recent months. Worrying headlines will be followed by soothing speeches. "We've been here before," he said.

The S&P 500 index fell 0.12 of a point to 1,955.06. It ended the week with a gain of 1.2 percent.

The Dow Jones industrial average fell 50.67, or 0.3 percent, to 16,662.91, while the Nasdaq composite gained 11.93 points, or 0.3 percent, to 4,464.93

Mark Luschini, chief investment strategist at Janney Montgomery Scott, said that one reason world events seem to be driving trading recently is that there's a lack of anything else for traders to focus on. All but a handful of big companies have turned in second-quarter results already, and no major economic reports came out this week.

"For the moment, geopolitical events seem to hold the interest of the few people at their desks in mid-August," Luschini said.

The news crossed at mid-morning Eastern time that a column of Russian armored carriers had crossed into Ukraine late Thursday. Ukraine claimed that its artillery fire destroyed most of the vehicles, but Russia denied that it happened.

The reports upended major European markets, turning gains into losses. Germany's DAX dropped 1.4 percent, after climbing 1.1 percent earlier. France's CAC 40 lost 0.7 percent.

The yield on the 10-year Treasury note plunged as low as 2.30 percent, the lowest since June 2013, as traders seeking safety shifted money into U.S. government bonds. In late afternoon trading the yield climbed back to 2.34 percent, still down from 2.40 percent late Thursday.

Among companies in the news, Monster Beverage soared 30 percent after Coca-Cola announced plans to pay $2 billion for a stake in the maker of caffeinated drinks. The deal comes as Coca-Cola's flagship soda business is flagging and "energy drinks" have become popular. Monster jumped $21.84 to $93.49.

Supervalu, a grocery store chain, said hackers gained access to its computer network for handling credit-card transactions. The company said it isn't sure yet if customers' account numbers and other information were stolen. Supervalu fell 28 cents, or 3 percent, to $9.31.

After the market closed Wednesday, Nordstrom reported a slight drop in earnings as well as sales that fell just short of analysts' estimates. The department-store's stock slid $3.58, or 5 percent, to $65.11.

In commodities trading, Benchmark U.S. crude oil rose $1.77 to $97.35 a barrel.

1560


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	175.83	points or ▲	1.06%	on	Monday, 18 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,838.74	▲	175.83	▲	1.06%		
	Nasdaq____	4,508.31	▲	43.39	▲	0.97%		
	S&P_500___	1,971.74	▲	16.68	▲	0.85%		
	30_Yr_Bond____	3.19	▲	0.06	▲	1.88%		

NYSE Volume	 2,633,906,000 	 	 	 	 	  		 
Nasdaq Volume	 1,543,887,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,741.25	▲	52.17	▲	0.78%		
	DAX_____	9,245.33	▲	152.73	▲	1.68%		
	CAC_40__	4,230.65	▲	56.29	▲	1.35%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,580.60	▲	21.00	▲	0.38%		
	Shanghai_Comp	2,239.47	▲	12.73	▲	0.57%		
	Taiwan_Weight	9,141.31	▼	-65.50	▼	-0.71%		
	Nikkei_225___	15,322.60	▲	4.26	▲	0.03%		
	Hang_Seng.__	24,955.46	▲	0.52	▲	0.00%		
	Strait_Times.__	3,312.78	▼	-1.99	▼	-0.06%		
	NZX_50_Index_	5,071.12	▼	-6.96	▼	-0.14%		

http://finance.yahoo.com/news/asian-stock-markets-subdued-ukraine-clash-041450809--finance.html
*
US stocks gain; Dollar General jumps after bid*
Associated Press
By STEVE ROTHWELL

NEW YORK (AP) — Corporate deal news gave the US stock market a lift on Monday as a bidding contest erupted for a discount retailer. Stocks also climbed amid reports of diplomatic efforts to broker a cease-fire in the conflict in Ukraine.

Dollar General jumped after making a bid for retailer Family Dollar, a rival discount store. The offer topped a bid made last month by Dollar Tree, another discount retailer. Airlines were also among the big gainers as the price of oil slumped.

The stock market is bouncing back after a bout of summer volatility pushed the Standard & Poor's 500 down earlier this month to its lowest level since May. The index is now less than 1 percent below its record close of 1,987 reached on July 24. Investors had become skittish on concerns that the tensions between Russia and Ukraine were escalating.

"Investors are focusing back on earnings and fundamentals and not as worried about some of those geopolitical pressures right now," said Chris Gaffney, a senior market strategist at Everbank Wealth Management.

The S&P 500 rose 16.68 points, or 0.9 percent, to 1,971.74. The Dow Jones industrial average gained 175.83 points, or 1.1 percent, to 16,838.74. The Nasdaq composite gained 43.39 points, or 1 percent, to 4,508.31.

Dollar General was the biggest gainer in the S&P 500. The company's stock rose $6.68, or 11.6 percent, to $64.14 after it made a $8.95 billion bid to buy Family Dollar. That's higher than the $8.5 billion bid that Dollar Tree made for Family Dollar last month.

Sterne Agee recommended buying Dollar General's stock, saying that the company could benefit from significantly higher earnings following the acquisition.

Family Dollar, the target of the bid, also jumped on the news, climbing $3.75, or 5 percent, to $79.81. Dollar Tree fell $1.34, or 2 percent, to $54.26.

Airline stocks were among the gainers as well after the price of oil fell to its lowest level since April as fears of supply disruptions from Iraq eased. Fuel is a big component of airlines' costs.

Southwest Airlines rose $1.06, or 4 percent, to $30.82. United Continental climbed $1.83, also 4 percent, to $47.84.

Despite the increased volatility caused by the tensions in Ukraine and elsewhere, stocks are still an attractive investment, said Dan Curtin, a global investment specialist for JPMorgan Private Bank.

Inflation remains and low and corporate earnings remain strong. Earnings growth in the second quarter was 10.2 percent for companies in the S&P 500, compared to 4.9 percent in the same period a year ago and 3.4 percent in the first quarter, according to data from S&P Capital IQ.

Later this week investors will focus the Federal Reserve. Policy makers are winding down their economic stimulus and will likely start to raise interest rates at some point next year.

On Wednesday, the Fed will release the minutes from its July policy meeting and on Friday Fed Chair Janet Yellen will give a speech at an annual conference of central bankers, policy experts and academics from around the world at Jackson Hole, Wyoming.

Yellen is expected to reaffirm her position that slack remains in the labor market and that the Fed will keep monetary policy loose to address the problem, said Katie Nixon, chief investment officer for Wealth Management at Northern Trust.

"The Federal Reserve is in no hurry to raise rates," said Nixon. "We expect more of the same and think it will be very supportive to financial markets."

Monster Beverage was the biggest decliner in the S&P 500 Monday. The stock fell $5.05, or 5 percent, to $88.44 after analysts at Jefferies cut their rating on the stock from "buy" to "hold." Monster surged almost 22 percent Friday after Coca-Cola said it was buying a 16.7 percent stake in the company. The analysts at Jefferies say that Monster's stock may now be fully valued after the gain.

In commodities trading, oil fell close to its lowest price since April after fears of supply disruptions from Iraq faded. That is removing much of the risk premium that had built up in May and June. Benchmark U.S. crude fell 94 cents, or 1 percent, to $96.41 a barrel in New York. It traded above $106 a barrel as recently as June 25.

Prices for U.S. government bonds fell. The yield on the 10-year Treasury note rose to 2.39 percent from 2.34 percent on Friday.

Prices for metals futures ended mixed. Gold fell $6.90 to $1,299.30 an ounce, silver rose 11 cents to $19.64 an ounce and copper was little changed at $3.11 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	80.85	points or ▲	0.48%	on	Tuesday, 19 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,919.59	▲	80.85	▲	0.48%		
	Nasdaq____	4,527.51	▲	19.20	▲	0.43%		
	S&P_500___	1,981.60	▲	9.86	▲	0.50%		
	30_Yr_Bond____	3.22	▲	0.03	▲	0.85%		

NYSE Volume	 2,652,664,250 	 	 	 	 	  		 
Nasdaq Volume	 1,534,638,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,779.31	▲	38.06	▲	0.56%		
	DAX_____	9,334.28	▲	88.95	▲	0.96%		
	CAC_40__	4,254.45	▲	23.80	▲	0.56%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,618.40	▲	37.80	▲	0.68%		
	Shanghai_Comp	2,245.33	▲	5.86	▲	0.26%		
	Taiwan_Weight	9,243.78	▲	102.47	▲	1.12%		
	Nikkei_225___	15,449.79	▲	127.19	▲	0.83%		
	Hang_Seng.__	25,122.95	▲	167.49	▲	0.67%		
	Strait_Times.__	3,316.43	▲	3.65	▲	0.11%		
	NZX_50_Index_	5,114.21	▲	43.09	▲	0.85%		

http://finance.yahoo.com/news/global-stocks-us-housing-ukraine-080904051.html

*Stocks rise as US home construction rebounds*
Associated Press
By STEVE ROTHWELL

NEW YORK (AP) ”” A summer swoon for the stock market appears to be over for now.

The Standard & Poor's 500 index closed within six points of its all-time high Tuesday, less than two weeks after slumping on concerns about rising tensions in Iraq and Ukraine.

Investors were encouraged by economic reports that suggested growth may be poised to pick up, while inflation remains subdued. A pair of company earnings reports also hinted that consumers are getting more confident and spending more.

Home Depot, the nation's largest home improvement retailer, rose after raising its annual profit forecast following a strong spring selling season. TJX, the parent company of T.J. Maxx, Marshalls and other stores, climbed on strong earnings.

"The economic reports ... have been coming out better than expected," said Robert Pavlik, Chief Market Strategist at Banyan Partners. "There's been a shift in the focus of investors away from some of the geopolitical events."

The Standard & Poor's 500 index gained 9.86 points, or 0.5 percent, to 1,981.60. The index is up 1.4 percent for the week and is approaching its record close of 1,987.98 reached July 24. The Dow Jones industrial average rose 80.85 points, or 0.5 percent, to 16,919.59. The Nasdaq composite climbed 19.20 points, or 0.4 percent, to 4,527.51.

TJX, the parent company of T.J. Maxx, Marshalls and other stores, was the biggest gainer in the S&P 500 on Tuesday. The company's stock rose $4.66, or 8.6 percent, to $58.56 after it reported that its quarterly income climbed 8 percent as sales strengthened in the U.S. and abroad. The results beat the estimates of Wall Street analysts. TJX also lifted its full-year earnings forecast.

Home Depot jumped $4.64, or 5.6 percent, to $88.23 after the company said its quarterly income surged 14 percent. Spring is the biggest season for home-improvement retailers as homeowners work on their yards and gardens. Home Depot has also been helped by an improving housing market.

"Home Depot's earnings give you a measure of confidence in housing, to an extent, and a measure of retail confidence," said JJ Kinahan, chief strategist at TD Ameritrade. "Those are two areas where we like to look to see how the consumer is really feeling."

After rising to a record in July, stocks slumped in the first week of August. The S&P 500 index fell as much as 4 percent from its record close to 1,909.57 on August 7, as investors worried about tensions between Russia and the West over Ukraine and the implications for global growth.

U.S. consumer prices rose in July at the slowest pace in five months, held back by a drop in gasoline prices. Consumer prices edged up 0.1 percent, after larger gains of 0.3 percent in June and 0.4 percent in May. If inflation remains constrained, investors judge that the Federal Reserve will be able keep its key interest rate low for longer.

The Fed is currently winding down its economic stimulus but hasn't yet said when it will start raising interest rates.

Beauty products company Elizabeth Arden was one of the big losers on Tuesday.

The company slumped after reporting lower sales and a loss that was bigger than analysts' had expected. The company said the decline in sales of celebrity fragrances, particularly the Justin Bieber and Taylor Swift scents, was steeper than had been anticipated. Arden's stock dropped $4.56, or 23 percent, to $15.05.

Benchmark U.S. crude fell $1.93, or 2 percent, to $94.48 a barrel in New York and is now down nearly 4 percent for the month of August as crude supplies remain ample. Bond prices didn't move much. The yield on the 10-year Treasury note was unchanged at 2.40 percent from Tuesday.

In metals trading, gold slipped $2.60 to $1,296.70 an ounce. Silver fell 22 cents to $19.41 an ounce. Copper fell two cents to $3.09 a pound. In currency trading, the dollar rose 0.3 percent to 102.89 yen, while the euro fell 0.3 percent against the U.S. currency to $1.3318.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	59.54	points or ▲	0.35%	on	Wednesday, 20 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,979.13	▲	59.54	▲	0.35%		
	Nasdaq____	4,526.48	▼	-1.03	▼	-0.02%		
	S&P_500___	1,986.51	▲	4.91	▲	0.25%		
	30_Yr_Bond____	3.22	▲	0.00	▼	-0.03%		

NYSE Volume	 2,578,115,250 	 	 	 	 	  		 
Nasdaq Volume	 1,472,582,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,755.48	▼	-23.83	▼	-0.35%		
	DAX_____	9,314.57	▼	-19.71	▼	-0.21%		
	CAC_40__	4,240.79	▼	-13.66	▼	-0.32%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,629.20	▲	10.80	▲	0.19%		
	Shanghai_Comp	2,240.21	▼	-5.12	▼	-0.23%		
	Taiwan_Weight	9,288.05	▲	44.27	▲	0.48%		
	Nikkei_225___	15,454.45	▲	4.66	▲	0.03%		
	Hang_Seng.__	25,159.76	▲	36.81	▲	0.15%		
	Strait_Times.__	3,323.65	▲	7.22	▲	0.22%		
	NZX_50_Index_	5,140.34	▲	26.13	▲	0.51%		

http://finance.yahoo.com/news/global-stocks-drift-amid-wait-075636747.html

*Stocks advance for third day, despite Fed minutes*
Associated Press
By KEN SWEET

NEW YORK (AP) ”” The stock market rose for a third straight day Wednesday despite a report from the Federal Reserve that showed a growing chorus of central bank officials willing to raise interest rates sooner rather than later.

In the bond market, prices fell and yields rose as investors prepared themselves for higher interest rates.

The Dow Jones industrial average rose 59.54 points, or 0.4 percent, to 16,979.13. The Standard & Poor's 500 index rose 4.91 points, or 0.3 percent, to 1,986.51, less than two points away from its late-July record close of 1,987.98.

The Nasdaq composite was mostly unchanged on the day, falling 1.03 points, less than 0.1 percent, to 4,526.48.

The majority of Fed policymakers believe the U.S. economy is improving enough that the bank should start considering how it's going to start raising interest rates, according to minutes from the bank's latest meeting.

The debate on when the Fed should raise interest rates, which have been near zero since 2008, has intensified in recent months as the central bank winds down its other economic stimulus.

The Fed has been winding down its bond-buying program since December, and is expected to end it completely before the end of the year. Despite worries that the Fed's exit might be a net negative for the market, stocks have remained resilient. The S&P 500 is up 7.5 percent this year.

Jonathan Corpina, a floor trader at the New York Stock Exchange with Meridian Equity Partners, said investors are prepared to see the Fed raise interest rates.

"We've been talking about raising interest rates for so long, I don't think the Fed is going to surprise anybody when they finally do it," Corpina said.

The Fed's key short-term interest rate influences the prices of a huge array of investments, including Treasuries, other kinds of bonds and stocks. If the Fed were to raise interest rates, investors would demand higher yields on bonds.

The Fed minutes prompted some investors to sell bonds. The yield on the U.S. 10-year Treasury note rose to 2.43 percent from 2.40 percent the day before. Bond yields rise when prices fall.

Trading has been quiet this week as the summer winds down and with many traders on vacation. Tuesday was the third-slowest trading day of the year and Wednesday was 12th-slowest day.

On Friday, Fed Chair Janet Yellen will give a speech at the bank's annual conference in Jackson Hole, Wyoming. The speech is often a venue where the leader of the Fed lays out major policy decisions.

"Janet Yellen's speech in Jackson Hole will most likely guide the markets (now that) earnings season is winding down," Doug Cote, chief market strategist with Voya Investment Management, said.

Benchmark U.S. crude for September delivery rose $1.59 to $96.07 a barrel New York. Oil rose after a report showed U.S. supplies dropped sharply last week as refineries kept busy.

In metals trading, gold fell $1.50 to $1,295.20 an ounce, silver rose 9 cents to $19.50 an ounce and copper rose nine cents to $3.18 a pound.

In individual stocks:

”” J.M. Smucker fell $1.03, or 1 percent, to $102.42. The food products company, which also owns coffee brands such as Folgers, cut its full-year sales outlook. The company also said higher coffee prices were impacting the company's profit margins.

”” PetSmart rose 82 cents, or 1 percent, to $70.52 after the company said it was exploring a sale. The pet supply retailer had been under pressure from activist investors to consider a deal or a major restructuring.

”” Hertz fell after the rental car company withdrew its full-year profit forecast, citing numerous "operational challenges" related to auto recalls and accounting irregularities. The company said the Ford and GM recalls hurt its ability to have cars available for customers. Hertz also said its purchase of Dollar Thrifty was not saving as much money as originally hoped. The stock fell $1.23, or 4 percent, to $30.33.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	60.36	points or ▲	0.36%	on	Thursday, 21 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,039.49	▲	60.36	▲	0.36%		
	Nasdaq____	4,532.10	▲	5.62	▲	0.12%		
	S&P_500___	1,992.37	▲	5.86	▲	0.29%		
	30_Yr_Bond____	3.19	▼	-0.03	▼	-0.87%		

NYSE Volume	 2,617,886,250 	 	 	 	 	  		 
Nasdaq Volume	 1,405,885,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,777.66	▲	22.18	▲	0.33%		
	DAX_____	9,401.53	▲	86.96	▲	0.93%		
	CAC_40__	4,292.93	▲	52.14	▲	1.23%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,634.00	▲	4.80	▲	0.09%		
	Shanghai_Comp	2,230.46	▼	-9.75	▼	-0.44%		
	Taiwan_Weight	9,253.38	▼	-34.67	▼	-0.37%		
	Nikkei_225___	15,586.20	▲	131.75	▲	0.85%		
	Hang_Seng.__	24,994.10	▼	-165.66	▼	-0.66%		
	Strait_Times.__	3,324.09	▲	0.44	▲	0.01%		
	NZX_50_Index_	5,152.92	▲	12.58	▲	0.24%		

http://finance.yahoo.com/news/global-stocks-drift-amid-wait-075636747.html

*Stocks advance to put S&P 500 at a record high*
Associated Press
By KEN SWEET 

NEW YORK (AP) ”” The stock market advanced for a fourth straight day Thursday, pushing the Standard & Poor's 500 index to a record high.

Investors were encouraged by news that the number of people seeking unemployment benefits remains at a multi-year low. Hewlett-Packard rose after delivering better results, while Sears plunged after reporting that its loss doubled from a year ago.

The S&P 500 rose 5.86 points, or 0.3 percent, to 1,992.37, four points above the record close the index set on July 24.

The Dow Jones industrial average rose 60.36 points, or 0.4 percent, to 17,039.49. It was the Dow's first close above 17,000 since July 24. The Nasdaq composite rose 5.62 points, or 0.1 percent, to 4,532.10.

Hewlett-Packard was the biggest gainer in the S&P 500. The technology giant rose $1.88, or 5.4 percent, to $37 after reporting better-than-expected results and its first sales increase in nearly three years. HP has been undergoing a multi-year restructuring under CEO Meg Whitman, who has laid off employees and cut back businesses that aren't profitable.

Bank of America was also among the market's biggest advancers. The company reached a $16.65 billion settlement with the Justice Department over its sale of mortgage-backed securities in the months leading up to the financial crisis. The settlement is by far the largest deal the Justice Department has reached with a bank over the 2008 mortgage meltdown. BofA rose 64 cents, or 4 percent, to $16.16.

Stocks opened higher and remained there throughout the day, although buying did pick up in the last hour of trading. Investors were encouraged by a report from the Department of Labor that claims for unemployment benefits, a proxy for the number of people who recently lost their jobs and are looking for work, fell by 14,000 last week to 298,000. The less-volatile four-week average was 300,750, below the average before the Great Recession.

Stocks have been rising steadily all month, due to better economic data and a cooling of tensions in Ukraine, Gaza and Iraq. The S&P 500 is on pace to have its best month since February.

"We've have been able to breathe a sigh of relief that those worst-case scenarios have been avoided, at least for the time being," said Ryan Larson, head of equity trading with RBC Global Asset Management.

Investors now turn to Friday, when Fed Chair Janet Yellen will give a speech at the Fed's annual conference of central bankers and other policymakers in Jackson Hole, Wyoming. Investors will be watching closely for clues into her thinking on the timing of interest rate increases.

Yellen's speech will come two days after the minutes from the Fed's July meeting showed that a majority of the central bank's policymakers believe the U.S. economy is improving enough for the bank to start raising interest rates sooner than previously thought. The debate on when the Fed should begin increasing rates, which have been near zero since 2008, has intensified in recent months as the Fed winds down its other economic stimulus.

Overall, it's been a quiet week for the market. Volumes are low as many Wall Street workers try to fit in their vacations before trading picks up after Labor Day. Thursday was the 10th-slowest trading day of the year and Wednesday was the fifth-slowest.

Benchmark U.S. crude for October delivery rose 51 cents to $93.96 a barrel in New York. In metals trading, gold fell $19.80 to $1,275.40 an ounce, silver fell eight cents to $19.42 an ounce and copper was little changed at $3.18 a pound.

The yield on the 10-year Treasury note dipped to 2.41 percent from 2.43 percent the day before.

In individual companies:

”” Dollar General, Dollar Tree and Family Dollar all fell after Family Dollar rejected Dollar General's unsolicited $9 billion buyout offer, citing antitrust concerns. Also weighing on Family Dollar's decision was a deal Family Dollar reached with smaller discount retailer Dollar Tree last month. Dollar Tree fell 72 cents, or 1.3 percent, to $54.28, Dollar General fell 15 cents, or 0.2 percent, to $63.61 and Family Dollar fell 40 cents, or 0.5 percent, to $79.41.

”” Sears Holdings lost $2.57, or 7 percent, to $33.38. The owner of Sears and Kmart said it lost $573 million in the last quarter, more than double what is lost the year before. It was the struggling company's ninth straight quarterly loss


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-38.27	points or ▼	-0.22%	on	Friday, 22 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,001.22	▼	-38.27	▼	-0.22%		
	Nasdaq____	4,538.55	▲	6.45	▲	0.14%		
	S&P_500___	1,988.40	▼	-3.97	▼	-0.20%		
	30_Yr_Bond____	3.16	▼	-0.03	▼	-1.10%		

NYSE Volume	 2,303,484,750 	 	 	 	 	  		 
Nasdaq Volume	 1,286,471,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,775.25	▼	-2.41	▼	-0.04%		
	DAX_____	9,339.17	▼	-62.36	▼	-0.66%		
	CAC_40__	4,252.80	▼	-40.13	▼	-0.93%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,640.50	▲	6.50	▲	0.12%		
	Shanghai_Comp	2,240.81	▲	10.35	▲	0.46%		
	Taiwan_Weight	9,380.10	▲	126.72	▲	1.37%		
	Nikkei_225___	15,539.19	▼	-47.01	▼	-0.30%		
	Hang_Seng.__	25,112.23	▲	118.13	▲	0.47%		
	Strait_Times.__	3,325.50	▲	1.41	▲	0.04%		
	NZX_50_Index_	5,167.00	▲	14.08	▲	0.27%		

http://finance.yahoo.com/news/most-asia-stocks-inch-higher-ahead-yellen-talk-054313705--finance.html

*Stocks are mostly lower as Ukraine tensions flare*
Associated Press
By KEN SWEET

NEW YORK (AP) — The stock market paused Friday, following four days of gains, after a speech by Federal Reserve Chair Janet Yellen left investors unsure about how the nation's most important financial voice feels about raising interest rates in the coming months.

A flare-up in tensions between Ukraine and Russia also weighed on the market after a Russian convoy entered the country, purportedly to bring aid supplies.

It was a quiet day overall. Stocks moved between small gains and losses, then settled modestly lower in the last couple of hours. Trading was slow, as it has been all week, as the summer winds down and with many investors on vacation. It was the second-quietest day of the year for trading on the New York Stock Exchange.

The Dow Jones industrial average fell 38.27 points, or 0.2 percent, to 17,001.22. The Standard & Poor's 500 index lost 3.97 points, or 0.2 percent, to 1,988.40 and the Nasdaq composite added 6.45 points, or 0.1 percent, to 4,538.55.

Even with Friday's modest losses, it was a strong week for the stock market. The S&P 500 rose 1.7 percent for the week, its best five-day performance since April.

The Fed dominated investors' agendas this week. On Friday, Yellen addressed an annual conference of central bankers and other policymakers from around the globe at the Fed's annual conference in Jackson Hole, Wyoming.

In her speech, which focused on labor markets, Yellen said the Great Recession complicated the Fed's ability to assess the U.S. job market and made it harder to determine when to adjust interest rates. Yellen offered no signal that she had altered her view that the economy still needs support from the Fed in the form of ultra-low interest rates.

"I think this was business as usual for Yellen. She was measured and deliberate and the market had a minimal reaction to it," said Michael Fredericks, portfolio manager of Blackrock's Multi-Asset Income Fund, which has $8.8 billion in assets.

The timing of a Fed rate increase remains unclear; however most investors expect the first one to come sometime in 2015. Yellen's speech comes two days after a report from the Fed seemed to show a growing chorus of policymakers wanting to raise interest rates.

"The uncertainty that policymakers feel on numerous fronts was evident in Yellen's speech," John Hoff, a fixed income strategist at RBS, wrote in a note to investors.

The Fed has kept its benchmark short-term interest rate, known as the Federal Funds Rate, near zero since late 2008 in order to simulate economic activity and demand. The downside to low interest rates is the possibility that they can lead to inflation.

The Federal Funds Rate helps determine interest rates on a variety of financial products including mortgages and credit cards, as well as the yields that bonds pay. Many investors believe the U.S. economy has recovered enough from the depths of the financial crisis to warrant higher interest rates.

The Fed has been winding down another economic stimulus program, large-scale purchases of bonds in the open market, since December.

Investors also had geopolitical tensions to contend with.

A Russian convoy entered Ukraine, defying the government there. Ukraine called the move a "direct invasion" intended to provoke an international incident. The action drew condemnation from the European Union, the United States and NATO. The trucks are purportedly carrying aid to residents in rebel-held zones where separatists are fighting with the Ukrainian government.

The Russia-Ukraine tensions have been a headache for investors for months now. Russia is Europe's biggest supplier of energy and is a major trade partner for the continent. The European Union has placed sanctions on Russia, which has lowered the amount of trade between Russia and the eurozone's countries.

U.S. government bond prices were little changed, a sign that investors were hesitant to make any large bets after Yellen's speech. The yield on the 10-year Treasury note edged down to 2.40 percent.

Benchmark U.S. crude oil fell 31 cents to $93.65 a barrel in New York. In metals trading, gold rose $4.80 to $1,280.20 an ounce, silver fell three cents to $19.39 an ounce and copper rose three cents to $3.20 a pound.

In individual companies:

— Dynegy rose $2.60, or 9 percent, to $32.32 after the company announced it was buying $6.25 billion in power plants from Duke Energy and Energy Capital Partners. The deal would double Dynergy's power generation capabilities.

— Gap jumped $2.25, or 5 percent, to $45.43. Gap said its profits rose 10 percent in the second quarter, helped by lower expenses and higher sales. The company also said it plans to expand in India.

— Another clothing chain, Aeropostale, was not as fortunate. The company reported a loss for the quarter and cut its full-year sales outlook. Aeropostale plunged 39 cents, or 10 percent, to $3.52.

2125


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	75.65	points or ▲	0.44%	on	Monday, 25 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,076.87	▲	75.65	▲	0.44%		
	Nasdaq____	4,557.35	▲	18.80	▲	0.41%		
	S&P_500___	1,997.92	▲	9.52	▲	0.48%		
	30_Yr_Bond____	3.14	▼	-0.02	▼	-0.70%		

NYSE Volume	 2,229,716,500 	 	 	 	 	  		 
Nasdaq Volume	 1,364,859,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,775.25	▼	-2.41	▼	-0.04%		
	DAX_____	9,510.14	▲	170.97	▲	1.83%		
	CAC_40__	4,342.11	▲	89.31	▲	2.10%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,632.80	▼	-7.70	▼	-0.14%		
	Shanghai_Comp	2,229.27	▼	-11.54	▼	-0.51%		
	Taiwan_Weight	9,390.62	▲	10.52	▲	0.11%		
	Nikkei_225___	15,613.25	▲	74.06	▲	0.48%		
	Hang_Seng.__	25,166.91	▲	54.68	▲	0.22%		
	Strait_Times.__	3,330.28	▲	4.78	▲	0.14%		
	NZX_50_Index_	5,182.74	▲	0.00	▲	0.00%		

http://finance.yahoo.com/news/asian-stock-markets-muted-yellen-speech-045523898--finance.html
*
S&P 500 touches another milestone

Standard & Poor's 500 hits 2,000 for the first time, then edges back; Burger King soars*
Associated Press
By Alex Veiga, AP Business Writer 

Summer doldrums? Not on Wall Street.

The stock market notched another first on Monday as the Standard & Poor's 500 index nudged briefly past the 2,000-point mark and closed with its second record high in a week.

The move was the latest milestone in a five-year rally for U.S. stocks, which are enjoying a late-summer revival after dipping earlier this month on concerns about geopolitical tensions in Russia and the Middle East.

Investors have put aside those concerns for now, focusing instead on the improving outlook for the U.S. economy, rising earnings and corporate deals.

News on Monday that Burger King was in talks to acquire doughnut chain Tim Hortons and create a new holding company headquartered in Canada had stocks pointing higher in premarket trading. That built on word over the weekend that California biotech company InterMune agreed to sell itself to Swiss pharmaceutical company Roche for $8.3 billion. Some other names in biotech also got a boost from the deal.

The deals overshadowed disappointing news in the housing market.

Shortly after the market opened, the Commerce Department reported that sales of new homes slid 2.4 percent last month. Homebuilder stocks declined, but the losses didn't spread to the broader market. In fact, stocks did the opposite.

The S&P 500, a widely followed barometer of the stock market, crossed above 2,000 in the first hour of trading.

The index fluctuated above and below the milestone throughout the day and ended just below that mark.

"The index number itself is somewhat symbolic," said David Kelley, JPMorgan Funds' chief global strategist. "It's a continuation of what we've seen all year."

All told, the S&P 500 added 9.52 points, or 0.5 percent, to 1,997.92. It closed at a record last Thursday of 1,992.37.

The Dow Jones industrial average rose 75.65 points, or 0.4 percent, to 17,076.87. The Nasdaq composite gained 18.80 points, or 0.4 percent, to 4,557.35.

The major U.S. indexes are riding a three-week streak of weekly gains and are up for the year.

Stocks, with support from the Federal Reserve's easy-money policies, have been on a bull run for more than five years after the market bottomed out during the Great Recession in March 2009.

"Unless the story changes, the stock market is going to get pushed higher by the lack of potentially good returns elsewhere," Kelley said.

Corporate deals have been a recurring driver of the market this year. Investors seized on the trend on Monday, sending Burger King up 19.5 percent. The stock added $5.29 to $32.40.

InterMune, meanwhile, vaulted 35.4 percent. It climbed $19.05 to $72.85.

The parent company of the Ann Taylor and Loft clothing chains also got a boost on news that a big shareholder is pressuring management to explore selling the company. Ann rose $2.42, or 6.4 percent, to $39.94.

Among other stocks making big moves, GrubHub fell $3.60, or 8.4 percent, to $39.16 after it disclosed that it may sell 10 million shares. The online restaurant delivery service had its initial public offering last year.

While stocks are riding high this summer, investors are still looking for signs that U.S. consumers are in a spending mood.

The market should get some fresh insight on Tuesday, when the government reports data on consumer confidence, home prices and durable goods.

"Are people who are getting employed actually spending on bigger-ticket items? That becomes the big test," said JJ Kinahan, chief strategist at TD Ameritrade.

Bond prices rose. The yield on the 10-year Treasury note slipped to 2.38 percent from 2.40 percent late Friday.

Benchmark U.S. crude for October delivery fell 30 cents to $93.35 a barrel in New York. In metals trading, gold fell $1.30 to $1,278.90 an ounce, silver fell three cents to $19.36 an ounce and copper edged up a penny to $3.22 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	29.83	points or ▲	0.17%	on	Tuesday, 26 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,106.70	▲	29.83	▲	0.17%		
	Nasdaq____	4,570.64	▲	13.29	▲	0.29%		
	S&P_500___	2,000.02	▲	2.10	▲	0.11%		
	30_Yr_Bond____	3.15	▲	0.02	▲	0.54%		

NYSE Volume	 2,420,306,250 	 	 	 	 	  		 
Nasdaq Volume	 1,452,272,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,822.76	▲	47.51	▲	0.70%		
	DAX_____	9,588.15	▲	78.01	▲	0.82%		
	CAC_40__	4,393.41	▲	51.30	▲	1.18%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,634.50	▲	1.70	▲	0.03%		
	Shanghai_Comp	2,207.11	▼	-22.17	▼	-0.99%		
	Taiwan_Weight	9,393.96	▲	3.34	▲	0.04%		
	Nikkei_225___	15,521.22	▼	-92.03	▼	-0.59%		
	Hang_Seng.__	25,074.50	▼	-92.41	▼	-0.37%		
	Strait_Times.__	3,323.02	▼	-7.26	▼	-0.22%		
	NZX_50_Index_	5,195.63	▲	12.89	▲	0.25%		

http://finance.yahoo.com/news/global-stocks-lower-us-economic-data-awaited-093759811--finance.html

*Another milestone: S&P 500 closes above 2,000*
Associated Press
By ALEX VEIGA 

It was a big round-number day for the stock market.

The Standard & Poor's 500 index closed a hair above 2,000 points Tuesday, 16 years after it finished above 1,000 for the first time.

The move extended the stock index's record-shattering run this year. The latest milestone comes as investors see new signs that the economy is strengthening, a driver of stronger company earnings.

"There's perhaps a small psychological boost when you get over such a significant price level," said Cameron Hinds, regional chief investment officer at Wells Fargo Private Bank.

U.S. stocks, in the midst of a five-year rally, have surged in the final weeks of the summer after dipping earlier this month on concerns about geopolitical tensions in Ukraine and the Middle East.

U.S. stock futures pointed to a higher opening in premarket trading Tuesday. That trend held as investors began to digest the latest positive economic news.

The Conference Board said Tuesday that its consumer confidence index rose this month to the highest point in nearly seven years. A separate report showed that orders of durable manufactured goods surged by a record 22.6 percent in July, thanks to a jump in aircraft sales. A third report showed U.S. home prices rose in June, although at a slower pace.

Stocks opened slightly higher and remained up the rest of the day.

The S&P 500 ended up 2.10 points, or 0.1 percent, to end at 2,000.02. Seven of the 10 sectors in the index rose, led by energy stocks. The Dow Jones industrial average rose 29.83 points, or 0.2 percent, to 17,106.70. The Nasdaq composite gained 13.29 points, or 0.3 percent, to 4,570.64.

The Dow is 32 points shy of its own record closing high set July 16. The Nasdaq is still well below its dot-com era record.

Major U.S. indexes are riding a three-week streak of weekly gains and are up for the year.

The S&P 500 index, a widely followed barometer of the stock market, has closed at a new high 30 times this year. By this time last year, it had done so 25 times.

The string of record highs this year isn't unusual when a market is recovering from a downturn, said Kate Warne, an investment strategist at Edward Jones.

In the past, once stocks have hit an all-time high after a downturn, they have continued to rise for about two years, on average, she said. The first time the S&P 500 hit a high after the financial crisis was March 2013. So this year's run is still within the average range.

"Markets don't climb sharply. They tend to climb slowly, and that's probably good news for a continued climb in the future," Warne said.

The Dow also has put up some big numbers this year, notching 15 new closing highs. That trails the 30 it racked up by this time a year ago.

While the market is setting records, many experts believe stocks remain fairly valued, though not cheap.

The S&P 500 is trading around 16 times the earnings companies in the index are expected to make over the next 12 months. The historical average on that measure is about 15 times.

"That says stocks are no longer cheap, but we also don't think they're expensive," Warne said. "Historically, when the price-earnings ratio has been in that range, returns over the next year have been around 7 percent. That's not bad."

The yield on the 10-year Treasury note rose to 2.39 percent. U.S. crude for October delivery rose 51 cents to $93.86 a barrel. In metals trading, gold rose $6.30 to $1,285.20 an ounce, silver rose three cents to $19.39 an ounce and copper fell three cents to $3.19 a pound.

Among the stocks making big moves Tuesday:

”” Amazon rose 2.3 percent after saying that it would buy video streaming company Twitch for $970 million. The stock climbed $7.81 to $341.83.

”” Best Buy fell $2.19, or 6.8 percent, to $29.80 after the electronics retailer reported that its fiscal second-quarter net income plunged 45 percent as sales weakened.

”” Orbitz fell 4.6 percent after American Airlines and US Airways disclosed they are pulling flight listings from the site because they have not been able to reach agreement on a long-term contract with the travel booking website operator. Orbitz shed 39 cents to $8.04.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	15.31	points or ▲	0.09%	on	Wednesday, 27 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,122.01	▲	15.31	▲	0.09%		
	Nasdaq____	4,569.62	▼	-1.02	▼	-0.02%		
	S&P_500___	2,000.12	▲	0.10	▲	0.00%		
	30_Yr_Bond____	3.11	▼	-0.04	▼	-1.36%		

NYSE Volume	 2,300,466,750 	 	 	 	 	  		 
Nasdaq Volume	 1,369,677,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,830.66	▲	7.90	▲	0.12%		
	DAX_____	9,569.71	▼	-18.44	▼	-0.19%		
	CAC_40__	4,395.26	▲	1.85	▲	0.04%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,648.90	▲	14.40	▲	0.26%		
	Shanghai_Comp	2,209.47	▲	2.36	▲	0.11%		
	Taiwan_Weight	9,485.59	▲	91.63	▲	0.98%		
	Nikkei_225___	15,534.82	▲	13.60	▲	0.09%		
	Hang_Seng.__	24,918.75	▼	-155.75	▼	-0.62%		
	Strait_Times.__	3,341.46	▲	18.44	▲	0.55%		
	NZX_50_Index_	5,243.70	▲	48.07	▲	0.93%		

http://finance.yahoo.com/news/global-stocks-lower-us-economic-data-awaited-093759811--finance.html

*Stocks drift higher; S&P 500 holds on to 2,000*
Associated Press
By ALEX VEIGA 

Even in a daylong sideways drift, the Standard & Poor's 500 index managed to eke out its third record close in three days.

U.S. stocks ended essentially flat on Wednesday after spending much of the day wavering between tiny gains and losses.

The S&P 500 notched a gain of one-tenth of a point over the day before, extending its rise for the week.

Overall trading volume was about one-third below the recent average, reflecting an absence of major market-moving news and the approaching Labor Day holiday weekend.

It was a sharp contrast to the day before, when the S&P 500 closed above 2,000 for the first time.

"Having achieved this 2,000 level, the market is simply taking a pause, catching its breath," said David Lebovitz, global market strategist at JPMorgan Chase.

U.S. stock futures pointed to a mixed opening in premarket trading Wednesday. The major stock indexes opened slightly higher, with the S&P 500 index at 2,001 points.

Early on, investors largely had their eye on company earnings. Retailers Express and Tiffany & Co. were among the companies to post better-than-expected results. Express' shares surged 12.7 percent, adding $1.86 to $16.45., while Tiffany rose 98 cents to $101.75.

At 10 a.m. Eastern the Congressional Budget Office offered a new assessment of the nation's economy, projecting it will grow by just 1.5 percent this year. The forecast was considerably more pessimistic than the Obama administration's, which predicted the economy would expand by 2.6 percent.

Stocks declined shortly afterward, then recovered, only to waver through small gains and losses through much of the day.

The S&P 500 rose 0.10 of a point to 2,000.12.

The Dow Jones industrial average rose 15.31, or 0.1 percent, to 17,122.01. The Nasdaq composite fell 1.02 points to 4,569.62.

The Dow is 16 points shy of its own record closing high set July 16. The Nasdaq is still well below its dot-com era record.

Major U.S. indexes are riding a three-week streak of gains and are up for the year.

Investors have been encouraged in recent weeks by strong corporate earnings and data that point to a strengthening economy after a sluggish start to the year. The trend has helped extend a five-year bull market, lifting indexes to new records this year.

It's likely that trading will continue to thin further in the next couple of days as more investors get in vacation mode for the Labor Day holiday weekend.

Before that, however, the market will get a look at a few more economic barometers.

On Thursday, the Commerce Department delivers its latest estimate of how much the U.S. economy grew in the second quarter. Economists are looking for 3.9 percent growth after a decline of 2.1 percent in the first quarter.

New figures on personal income and spending and on how consumers feel about the economy, are due out on Friday.

Among stocks making moves Wednesday:

”” Best Buy notched the biggest gain among companies in the S&P 500, adding $1.89, or 6.3 percent, to $31.69.

”” U.S. medical device maker Medtronic bought privately held Italian company NGC Medical S.p.A. for $350 million. NGC manages cardiovascular suites, operating rooms and intensive care units for hospitals. Medtronic already held a 30 percent stake in the business. Medtronic slipped 25 cents to $63.27.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.36 percent. Benchmark U.S. crude rose 2 cents to $93.88 a barrel in New York. In metals trading, gold fell $1.80 to $1,283.40 an ounce, silver rose 2 cents to $19.41 an ounce and copper fell a penny to $3.18 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-42.44	points or ▼	-0.25%	on	Thursday, 28 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,079.57	▼	-42.44	▼	-0.25%		
	Nasdaq____	4,557.69	▼	-11.93	▼	-0.26%		
	S&P_500___	1,996.74	▼	-3.38	▼	-0.17%		
	30_Yr_Bond____	3.07	▼	-0.04	▼	-1.19%		

NYSE Volume	 2,281,664,250 	 	 	 	 	  		 
Nasdaq Volume	 1,288,048,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,805.80	▼	-24.86	▼	-0.36%		
	DAX_____	9,462.56	▼	-107.15	▼	-1.12%		
	CAC_40__	4,366.04	▼	-29.22	▼	-0.66%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,621.30	▼	-27.60	▼	-0.49%		
	Shanghai_Comp	2,195.82	▼	-13.65	▼	-0.62%		
	Taiwan_Weight	9,478.37	▼	-7.22	▼	-0.08%		
	Nikkei_225___	15,459.86	▼	-74.96	▼	-0.48%		
	Hang_Seng.__	24,741.00	▼	-177.75	▼	-0.71%		
	Strait_Times.__	3,330.22	▼	-11.24	▼	-0.34%		
	NZX_50_Index_	5,237.51	▼	-6.19	▼	-0.12%		

http://finance.yahoo.com/news/ukraine-fears-weigh-global-stock-121415896.html

*Ukraine conflict weighs on markets; Retailers fall

Worsening tensions in Ukraine send stock indexes lower; Williams-Sonoma, other retailers sink*
Associated Press
By Alex Veiga, AP Business Writer

U.S. financial markets ended slightly lower Thursday, marking their first loss in a week of record highs.

The escalating conflict in Ukraine, disappointing retail earnings and profit outlooks combined to weigh down the market, eclipsing some good news on the U.S. economy and labor market.

"The key driver was largely the Ukraine news and the uncertainty of what that means," said Erik Davidson, deputy chief investment officer at Wells Fargo Private Bank.

U.S. stock index futures pointed to a lower opening in premarket trading Thursday, following a downward turn in global stock markets as traders reacted to the developments in Ukraine.

Ukraine President Petro Poroshenko said Russian forces had entered his country. He called an emergency meeting of the nation's security council. The yield on the 10-year Treasury note declined as investors sought out lower-risk assets.

A string of disappointing earnings and profit outlooks late Wednesday and early Thursday also weighed on the market early on.

Not all the news was discouraging.

The Commerce Department estimated that the U.S. economy grew at an annual rate of 4.2 percent in the April-June quarter.

The Labor Department added to the good news, saying the number of Americans seeking unemployment benefits slipped last week to 298,000, a low level that signals employers are cutting fewer jobs and hiring is likely to remain strong.

"The economic data in the U.S. continues to look quite good," Davidson said.

Nonetheless, major U.S. stock indexes opened lower. They pared some of their losses as the day went on, but remained down the rest of the day.

All told, the Standard & Poor's 500 index fell 3.38 points, or 0.2 percent, to 1,996.74. The index hit record highs the first three days of the week.

The Dow Jones industrial average slid 42.44 points, or 0.3 percent, to 17,079.57.

The Nasdaq composite shed 11.93 points, or 0.3 percent, to 4,557.69.

Major U.S. indexes are on track to end higher for the month and are up for the year.

Trading volume was lighter than the recent average ahead of the Labor Day holiday.

Investors seized on the lackluster earnings to reduce their holdings in several retailers.

Williams-Sonoma tumbled 12 percent after the cookware and home furnishings company issue a disappointing full-year profit outlook late Wednesday. The stock shed $8.96 to $65.93.

Tilly's lost 4.3 percent after the company forecast a difficult summer, noting customer traffic was down and merchandise discounts were cutting into its profit. The stock slid 37 cents to $8.15.

Genesco also declined after the apparel and footwear seller issued a profit outlook that was shy of Wall Street's expectations. Genesco sank $6.73, or 7.6 percent, to $81.94.

Abercrombie & Fitch fell 4.8 percent after the teen clothing company reported revenue that fell short of analysts' estimates. The stock slid $2.13 to $41.87.

The poor earnings and outlooks from retailers ran counter to what has otherwise been a strong corporate earnings season, which has helped drive a late-summer revival for U.S. stocks.

The dour outlooks are particularly discouraging when one considers that the sector is entering what traditionally is the best season for retailers, said JJ Kinahan, chief strategist at TD Ameritrade.

"That does put a bit of a note of caution over everything," he said.

Elsewhere in the market, the price of oil rose for the third day in a row on evidence of a stronger U.S. economy. Benchmark U.S. crude rose 67 cents to close at $94.55 a barrel on the New York Mercantile Exchange.

Wholesale gasoline rose 0.7 cent to close at $2.753 a gallon and natural gas rose 4.1 cents to close at $4.044 per 1,000 cubic feet.

Brent crude, a benchmark for international oils used by many U.S. refineries, fell 26 cents to close at $102.46 on the ICE Futures exchange in London.

The yield on the 10-year Treasury note fell to 2.34 percent. In metals trading, gold climbed $7 to $1,290.40 an ounce, silver rose 13 cents to $19.53 an ounce and copper fell 5 cents to $3.13 a pound.


----------



## bigdog

*U.S. financial markets will be closed Monday for Labor Day.*

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	18.88	points or ▲	0.11%	on	Friday, 29 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,098.45	▲	18.88	▲	0.11%		
	Nasdaq____	4,580.27	▲	22.58	▲	0.50%		
	S&P_500___	2,003.37	▲	6.63	▲	0.33%		
	30_Yr_Bond____	3.08	▲	0.01	▲	0.26%		

NYSE Volume	 2,258,731,250 	 	 	 	 	  		 
Nasdaq Volume	 1,332,822,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,819.75	▲	13.95	▲	0.20%		
	DAX_____	9,470.17	▲	7.61	▲	0.08%		
	CAC_40__	4,381.04	▲	15.00	▲	0.34%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,624.60	▲	3.30	▲	0.06%		
	Shanghai_Comp	2,217.20	▲	21.38	▲	0.97%		
	Taiwan_Weight	9,436.27	▼	-42.10	▼	-0.44%		
	Nikkei_225___	15,424.59	▼	-35.27	▼	-0.23%		
	Hang_Seng.__	24,742.06	▲	1.06	▲	0.00%		
	Strait_Times.__	3,327.09	▼	-3.13	▼	-0.09%		
	NZX_50_Index_	5,223.30	▼	-14.21	▼	-0.27%		

http://finance.yahoo.com/news/japan-stocks-lead-asian-declines-weak-data-032952123.html

*Stocks end higher following strong run in August*
Associated Press
By ALEX VEIGA 

The Standard & Poor's 500 index delivered its fourth record high in five days Friday, ending with the biggest monthly gain since February.

The milestone-crushing run capped a week when the S&P eclipsed the 2,000-point mark for the first time. And the index ended August with a gain of 3.7 percent.

Six months of solid job gains, strong company earnings and a bevy of corporate deal news contributed to the rally, part of a bull market that's been rumbling on for more than five years.

The market appeared ready for a correction at the end of July, but the downturn didn't last long. For most of August, stocks have managed to shake off geopolitical conflicts from Ukraine to Gaza and Iraq.

"The market has a good underlying tone," said Mike Levine, portfolio manager of Oppenheimer Equity Income Fund. "People feel like the economy is gaining some strength and the job market is getting better and corporate earnings should be pretty good."

Even in a quiet day of trading ahead of the Labor Day holiday, stocks eked out a gain.

The indexes opened higher, but eased soon after, as investors got the news that consumer spending fell and income growth slowed in July.

Traders also had their eye on the conflict in Ukraine, as a group of European Union foreign ministers accused Russia of invading the eastern region of the country and said Moscow should be punished with more economic sanctions.

The markets began to recoup some losses by midmorning, however, when a gauge of consumer sentiment showed greater optimism in August, particularly among higher-income groups. Some better-than-expected company earnings also lifted stocks.

Overall, the indexes wavered between small gains and losses throughout the afternoon.

"We're seeing a listless, pre-holiday market," said Drew Wilson, an investment analyst at Fenimore Asset Management.

The S&P 500 index finished up 6.63 points, or 0.3 percent, to 2,003.37. It closed above 2,000 for the first time on Tuesday and has gained 8.4 percent this year.

The Dow Jones industrial average gained 18.88 points, or 0.1 percent, to 17,098.45 on Friday, while the Nasdaq composite added 22.58 points, or 0.5 percent, to 4,580.27.

Stocks rose broadly, with all 10 sectors in the S&P 500 index higher for the day, led by utilities.

The gains marked the index's best August since 2000.

"It's been a good August," said Linda Duessel, senior equity market strategist at Federated Investors. "I imagine it's the end of the month and people closing their books are saying 'I better show I'm invested, we had a brand-new high this week,'" she said.

Nevertheless, some investors may be more hesitant next month. September is widely considered the stock market's worst.

Since World War II, the S&P 500 index has ended the month with a loss half of the time. Recently, however, September has been good to investors. The S&P 500 has turned in a September loss just twice in the last decade: in the depths of the financial crisis in 2008 and following a fight over raising the government's borrowing limit in 2011.

Last year, investors saw an array of threats lined up after Labor Day, including a fight over the federal budget and a possible U.S. attack on Syria. The result? The S&P 500 gained 3 percent in September.

Elsewhere in financial markets, bond prices were little changed. The yield on the 10-year Treasury note held at 2.34 percent.

In metals trading, gold slipped $3 to $1,287.40 an ounce, silver fell 14 cents to $19.40 an ounce and copper rose a penny to $3.14 a pound.

The price of oil rose for the fourth day in a row on concerns about the escalating tensions between Ukraine and Russia, the biggest oil exporter outside of OPEC. Benchmark U.S. crude rose $1.41 to close at $95.96 a barrel. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 73 cents to close at $103.19. Wholesale gasoline rose 3 cents to close at $2.783 a gallon. Natural gas rose 2.1 cents to close at $4.065 per 1,000 cubic feet.

Among the stocks making big moves Friday:

— Avago Technologies, which makes semiconductors used in smartphones, computer servers and other devices surged $5.73, or 7.5 percent, to $82.09. The big gain came after the company reported earnings that beat analysts' estimates. Avago rose the most in the S&P 500 index and touched an all-time high.

— Splunk soared 19.1 percent after the data management software developer reported earnings late Thursday that beat expectations. It also raised its full-year profit and revenue estimates. The stock gained $8.64 to $53.93.

— Tesla Motors and a state-owned Chinese phone carrier announced plans Friday to build 400 charging stations for electric cars in a bid to promote adoption of the technology in China. Tesla increased $5.84, or 2.2 percent, to $269.70.

U.S. financial markets will be closed Monday for Labor Day.

2710


----------



## bigdog

Source: http://finance.yahoo.com 

*U.S. financial markets were closed Monday for Labor day Holiday* 
 *The NYSE DOW closed  	HIGHER ▲	18.88	points or ▲	0.11%	on	Friday, 29 August 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,098.45	▲	18.88	▲	0.11%		
	Nasdaq____	4,580.27	▲	22.58	▲	0.50%		
	S&P_500___	2,003.37	▲	6.63	▲	0.33%		
	30_Yr_Bond____	3.08	▲	0.01	▲	0.26%		

NYSE Volume	 2,258,731,250 	 	 	 	 	  		 
Nasdaq Volume	 1,332,822,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,825.31	▲	5.56	▲	0.08%		
	DAX_____	9,479.03	▲	8.86	▲	0.09%		
	CAC_40__	4,379.73	▼	-1.31	▼	-0.03%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,629.30	▲	4.70	▲	0.08%		
	Shanghai_Comp	2,235.51	▲	18.31	▲	0.83%		
	Taiwan_Weight	9,513.06	▲	76.79	▲	0.81%		
	Nikkei_225___	15,476.60	▲	52.01	▲	0.34%		
	Hang_Seng.__	24,752.09	▲	10.03	▲	0.04%		
	Strait_Times.__	3,314.13	▼	-12.96	▼	-0.39%		
	NZX_50_Index_	5,215.40	▼	-7.90	▼	-0.15%		

http://finance.yahoo.com/news/asia-stocks-gain-stimulus-hopes-europe-lower-084513944--finance.html

LONDON (AP) ”” Ahead of a raft of economic developments this week, financial markets started the week on a lackluster note Monday as Wall Street was closed for the Labor Day holiday.

KEEPING SCORE: In Europe, the FTSE 100 index of leading British shares closed up 0.1 percent at 6,825.31 while Germany's DAX rose the same rate to 9,479.03. The CAC-40 in France ended a tad lower at 4,379.73. Earlier in Asia, China's Shanghai Composite rose 0.8 percent to 2,235.51 points and Tokyo's Nikkei 225 added 0.3 percent to 15,476.60. Hong Kong's Hang Seng was marginally higher, adding 0.04 percent to 24,752.09.

UKRAINE: In Europe, the crisis in Ukraine remains a key source of interest for traders. On Monday, there were signs that a breakthrough may be in the offing as pro-Russian rebels appeared to soften their demand for full independence, saying they would respect Ukraine's sovereignty in exchange for autonomy. The insurgents' platform, released at the start of Monday's negotiations in Minsk, the Belarusian capital, represented a significant change in their vision for the future of Ukraine's eastern, mainly Russian-speaking region.

GLOBAL MANUFACTURING: There were some worrying signs however that the global manufacturing sector is waning. Two surveys showed China's manufacturing growth slowed in August as export demand and investment weakened, raising expectations Beijing might launch more stimulus. HSBC Corp. said its purchasing manufacturers index fell to 50.2 from July's 18-month high of 51.7 on a 100-point scale on which numbers above 50 show an expansion. An official industry group, the China Federation of Logistics and Purchasing, said its separate PMI declined to 51.1 from 51.7. A similar picture emerged for the 18-country eurozone, with the August PMI from financial information company Markit down at a 13-month low of 50.7. On Tuesday, the Institute for Supply Management publishes its estimate for the U.S. economy.

EUROPE: Whether the weak economic indicators coming out of the eurozone will prompt the European Central Bank to enact further stimulus measures at its monthly policy meeting on Thursday remains open to question. Bank chief Mario Draghi called in a speech last month for fiscal policies to support growth, a departure from the ECB's implicit support for austerity. No immediate steps are expected but the bank has begun work on a program to buy asset-backed securities.

EURO IN RETREAT: The crisis in Ukraine and weak eurozone economic data have combined to hurt the euro currency over the past few months. On Monday, it fell to a near year-low of $1.3119.

U.S. ECONOMY: After Thursday's ECB meeting, traders will be fully focusing on the U.S. nonfarm payrolls report for August. The release often setts the market tone for a week or two after its release as traders try and work out when the Federal Reserve will start raising interest rates. Investor confidence over the U.S. economy has risen following several months of strong growth in hiring and corporate profits and a series of major corporate acquisitions.

ENERGY MARKETS: U.S. benchmark crude for October was down 25 cents at $95.71 in electronic trading on the New York Mercantile Exchange.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-30.89	points or ▼	-0.18%	on	Tuesday, 2 September 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,067.56	▼	-30.89	▼	-0.18%		
	Nasdaq____	4,598.19	▲	17.92	▲	0.39%		
	S&P_500___	2,002.28	▼	-1.09	▼	-0.05%		
	30_Yr_Bond____	3.17	▲	0.09	▲	3.05%		

NYSE Volume	 2,802,126,750 	 	 	 	 	  		 
Nasdaq Volume	 1,834,106,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,829.17	▲	3.86	▲	0.06%		
	DAX_____	9,507.02	▲	27.99	▲	0.30%		
	CAC_40__	4,378.33	▼	-1.40	▼	-0.03%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,656.90	▲	27.60	▲	0.49%		
	Shanghai_Comp	2,266.05	▲	30.54	▲	1.37%		
	Taiwan_Weight	9,399.72	▼	-113.34	▼	-1.19%		
	Nikkei_225___	15,668.60	▲	192.00	▲	1.24%		
	Hang_Seng.__	24,749.02	▼	-3.07	▼	-0.01%		
	Strait_Times.__	3,328.30	▲	14.17	▲	0.43%		
	NZX_50_Index_	5,221.77	▲	6.37	▲	0.12%		

http://finance.yahoo.com/news/us-stock-market-ends-slightly-213254999.html

*US stock market ends slightly lower

Stocks edge lower as weaker global growth overshadows positive signs for US*
Associated Press
By Matthew Craft

NEW YORK (AP) -- Concerns over weaker global economic growth appeared to outweigh a pair of strong reports on the U.S. economy Tuesday, nudging stocks to a tiny loss.

Crude oil prices sank 3 percent, pulling down stocks of oil producers. Small-companies, which have fewer ties to the world economy, made gains. Meanwhile, the dollar reached a one-year high against the euro as short-term interest rates edged up.

"It's the picture of U.S. strength against the backdrop of global weakness," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago.

The S&P 500 index slipped 1.09 point, less than 0.1 percent, to 2,002.28. The Dow Jones industrial average fell 30.89 points, or 0.2 percent, to 17,067.56.

Market gauges that give greater weight to smaller companies fared better. The Nasdaq rose 17.92 points, or 0.4 percent, to 4,598.19.

Two reports out Tuesday offered encouraging signs of U.S. economic growth. The Institute for Supply Management, a trade group, said its gauge of manufacturing reached 59 in August, the highest level since March 2011, buoyed by new orders for goods and increased production. Separately, the Commerce Department said that construction spending surged 1.8 percent in July, the biggest increase in more than 2 years.

"It's clear we have a very solid economic expansion, but the stock market isn't buzzing much at all," said Anastasia Amoroso, Global Market Strategist at J.P. Morgan Funds. The explanation, she said, is that signs of solid growth raise the odds that the Federal Reserve will move to lift short-term interest rates. Rate increases typically slow stock markets down.

"We're moving closer and closer to higher rates," Amoroso said, "so strong economic momentum could actually put a damper on the market."

A handful of key events and economic reports out later in the week could make for volatile trading.

The European Central Bank meets Thursday, and the U.S. employment report for August comes out Friday. Stronger hiring by U.S. businesses and rising corporate profits have helped push the S&P 500 index up 8 percent this year.

Ablin said a stock market drop caused by the Fed hiking rates wouldn't exactly be a bad thing. Waiting too long could make the pain much worse. "I would rather take a spoonful of medicine today than a tourniquet later."

Major markets across Europe were mixed. Germany's DAX inched up 0.3 percent, and both the CAC-40 in France and Britain's FTSE 100 ended flat.

The euro continued its summer slide, hitting $1.313 against the U.S. currency. Recent economic reports have shown the eurozone's economy slowing to a crawl, and that has weighed on the euro.

The price of oil slumped, pulling down shares of oil and gas companies. Benchmark U.S. crude dropped $3.08 to close at $92.88 a barrel, its lowest price since January. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $2.45 to end at $100.34. That was Brent's lowest closing price since May of 2013.

News that Norwegian Cruise Line agreed to buy Prestige Cruises International for $3 billion sent Norwegian Cruise Line's stock up 11 percent. Analysts said the deal should help Norwegian compete with its larger rivals: Carnival Corp. and Royal Caribbean Cruises. Norwegian Cruise Line jumped $3.68 to $36.99.

Exelixis lost more than half its value following news that the drug developer's potential treatment for prostate cancer fell short in late-stage research. The company's stock plunged $2.29, or 55 percent, to $1.85.

U.S. government bond prices dropped, lifting long-term interest rates. The yield on the 10-year note rose to 2.41 percent, up from 2.35 percent late Friday.

In metals trading, gold fell $22.40, or 1.7 percent, to $1,265 an ounce. Silver slipped 34 cents, also 1.7 percent, to $19.152 an ounce. Copper was flat at $3.155 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	10.72	points or ▲	0.06%	on	Wednesday, 3 September 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,078.28	▲	10.72	▲	0.06%		
	Nasdaq____	4,572.57	▼	-25.62	▼	-0.56%		
	S&P_500___	2,000.72	▼	-1.56	▼	-0.08%		
	30_Yr_Bond____	3.16	▼	-0.02	▼	-0.57%		

NYSE Volume	 2,774,825,250 	 	 	 	 	  		 
Nasdaq Volume	 1,879,633,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,873.58	▲	44.41	▲	0.65%		
	DAX_____	9,626.49	▲	119.47	▲	1.26%		
	CAC_40__	4,421.87	▲	43.54	▲	0.99%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,654.60	▼	-2.30	▼	-0.04%		
	Shanghai_Comp	2,288.63	▲	22.58	▲	1.00%		
	Taiwan_Weight	9,450.35	▲	50.63	▲	0.54%		
	Nikkei_225___	15,728.35	▲	59.75	▲	0.38%		
	Hang_Seng.__	25,317.95	▲	568.93	▲	2.30%		
	Strait_Times.__	3,348.77	▲	20.47	▲	0.62%		
	NZX_50_Index_	5,224.40	▲	2.62	▲	0.05%		

http://finance.yahoo.com/news/asian-stock-markets-rise-dollar-061659990.html

*Tech stocks drag Wall Street lower

Reports of cease-fire deal in Ukraine lift global markets, but tech tugs down US*
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- The relief that greeted reports of a possible cease fire in Ukraine faded on Wall Street, as a slide in Apple and other technology stocks tugged the U.S. stock market to a small loss Wednesday.

News that that Russia and Ukraine were close to reaching a cease-fire agreement rippled through markets early, lifting stocks in Europe and pushing up oil prices. In the U.S., the stock market headed higher at the start of trading then sagged in the afternoon.

One reason was Apple, the market's top heavyweight. The tech giant's stock slumped $4.36, or 4 percent, to $98.94 after its rival, Samsung, introduced two Galaxy smartphones with displays aimed at quick access to frequently used applications. Analysts expect Apple to unveil iPhones with bigger screens next week.

Shares in other big tech companies, including Amazon and Facebook, also fell than 1 percent or more. Of the 10 sectors in the S&P 500, technology companies lost the most.

The Standard & Poor's 500 slipped 1.56 points, a fraction of a percent, to end at 2,000.72.

The Dow Jones industrial average rose 10.72 points, or 0.1 percent, to 17,078.28. The Nasdaq composite, which is dominated by large tech companies, sank 25.62 points, or 0.6 percent, to 4,572.57.

Markets have barely moved this week even with news that, in other times, might cause investors to cheer.

Any good news has to be unusually good to push the S&P 500 past 2,000 and further into record territory, said Uri Landesman, president of Platinum Partners, an investment fund in New York.

"Above 2,000, discretion is the better part of valor," Landesman said. "Most people are kind of reluctant to jump in right now."

Another encouraging report on the U.S. economy came out Wednesday. The Commerce Department said that orders for U.S. factory goods shot up 10 percent in July, the biggest one-month jump on records going back to 1992. That followed strong figures for manufacturing activity and construction spending on Tuesday.

"Everything right now is pointing to greater market strength," said Jonathan Golub, chief U.S. market strategist at RBC Capital Markets. "What usually stops bull markets? It's almost always a recession." And there are no signs of a recession on the horizon, he said.

In Europe, markets surged following reports that Russian President Vladimir Putin and his Ukrainian counterpart had agreed to the broad terms of a peace plan to stop the fighting in eastern Ukraine. Ukraine and Western countries say Russia has armed insurgents in eastern Ukraine. Moscow denies it.

Germany's DAX climbed 1.3 percent. The CAC-40 in France picked up 1 percent. Russia's benchmark MICEX soared 3.5 percent.

Craig Erlam, market analyst at Alpari, said the reports of a cease-fire were "welcomed with open arms by the markets."

The hope, he said, must be that economic sanctions on Russia would soon be lifted, which could help the European economy reclaim lost ground.

"We can't forget that the effects of the crisis have been felt in many countries beyond those directly involved," said Erlam.

The crisis in Ukraine has played a role in hampering the European economic recovery this year. In its monthly survey of the 18-country eurozone, financial information company Markit pointed to the conflict as a culprit behind a sharp fall in its gauge of business activity. Some economists expect the European Central Bank to announce new measures on Thursday to help pull the region out of a rut.

Back in the U.S., Delta Air Lines tumbled 5 percent, the steepest drop of any company in the S&P 500. The airline cut estimates for a measure of revenue, blaming "events in Russia, the Middle East and Africa," an apparent reference to fighting in eastern Ukraine, war in Syria, and an Ebola outbreak in West Africa. Shares in Delta dropped $2.11 to $38.82.

U.S. government bond prices inched up. The yield on the 10-year Treasury note slipped to 2.40 percent, down from 2.42 percent late Tuesday.

In metals trading, the most active contract for gold rose $5.30 to settle $1,270.30 an ounce. Silver inched up 4 cents to $19.19 an ounce, and copper slipped 3 cents to $3.13 a pound.

The price of oil rose sharply on hopes that the possible accord between Russia and Ukraine would lead to increased economic activity and oil demand in Europe. Benchmark U.S. crude oil jumped $2.56 to close at $95.54 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, climbed $2.43 to $102.77 in London. Wholesale gasoline rose 7.7 cents to close at $2.620 a gallon. Natural gas fell 4.3 cents to close at $3.847 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-8.7	points or ▼	-0.05%	on	Thursday, 4 September 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,069.58	▼	-8.70	▼	-0.05%		
	Nasdaq____	4,562.29	▼	-10.28	▼	-0.22%		
	S&P_500___	1,997.65	▼	-3.07	▼	-0.15%		
	30_Yr_Bond____	3.20	▲	0.05	▲	1.55%		

NYSE Volume	 3,068,667,500 	 	 	 	 	  		 
Nasdaq Volume	 1,702,831,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,877.97	▲	4.39	▲	0.06%		
	DAX_____	9,724.26	▲	97.77	▲	1.02%		
	CAC_40__	4,494.94	▲	73.07	▲	1.65%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,632.10	▼	-22.50	▼	-0.40%		
	Shanghai_Comp	2,306.86	▲	18.23	▲	0.80%		
	Taiwan_Weight	9,428.89	▼	-21.46	▼	-0.23%		
	Nikkei_225___	15,676.18	▼	-52.17	▼	-0.33%		
	Hang_Seng.__	25,297.92	▼	-20.03	▼	-0.08%		
	Strait_Times.__	3,346.34	▼	-2.43	▼	-0.07%		
	NZX_50_Index_	5,228.55	▲	4.15	▲	0.08%		

http://finance.yahoo.com/news/global-stocks-lackluster-ecb-policy-081254048.html

*Stocks flat as oil drop offsets ECB stimulus*
Associated Press
By STEVE ROTHWELL

NEW YORK (AP) ”” A slump in oil prices weighed on the stock market Thursday, pushing the Standard & Poor's 500 index to its third straight loss.

Stocks had started the day higher after the European Central Bank surprised investors by announcing that it had cut its benchmark interest rate to a record low and planned to purchase asset-backed securities in an effort to stimulate the region's ailing economy. Investors were also cheered by some encouraging reports on the U.S. economy.

The gains didn't hold though and the market fell back during afternoon trading, as the falling price of oil pushed energy stocks lower. Traders may also have been reluctant to place big bets ahead of Friday's closely watched government jobs report.

Stocks have made a sluggish start to September, historically the worst month for the market, after surging in August. The S&P 500 gained 3.8 percent last month, climbing to a record high as it logged its best performance since February.

"The market did respond to the ECB news this morning, and certainly to the good economic news, but there are definite signs that this market is stretched," said Peter Cardillo, chief market economist at Rockwell Global Capital.

The S&P 500 index fell three points, or 0.2 percent, to 1,997.65. The Dow Jones industrial average fell eight points, or 0.1 percent to 17,069.58 points. The Nasdaq composite dropped 10.28 points, or 0.2 percent, to 4,562.29.

Stocks climbed in early trading, following a move higher by major indexes in Europe, after the ECB's surprise announcement. Some analysts had been expecting the central bank to say it was preparing a new stimulus program, but most did not expect an announcement as early as this week.

The ECB said it had trimmed its benchmark interest rate to 0.05 percent from a previous record low of 0.15 percent. In a news conference, ECB President Mario Draghi also said the bank would also start purchases of private sector financial assets in October. The program aims to make credit cheaper, helping investment and growth at a time when the economy of the 18-country eurozone has stalled.

As well as boosting stocks, the announcement caused the euro to slump against the dollar, pushing it to its lowest level against the U.S. currency in more than a year. Europe's single currency, which has been in retreat over the past few weeks on expectations that the ECB may pursue further stimulus measures, fell 1.5 percent to $1.29 per euro.

There was also encouraging news for stock investors on the U.S. economy.

U.S. services firms expanded in August at the fastest pace on record. The Institute for Supply Management said Thursday that its services index rose to 59.6 last month from 58.7 in July. The August figure is the highest recorded since the measure was introduced in January 2008.

Hiring is also picking up and U.S. businesses added jobs at a healthy pace in August, according to a private survey, the fifth straight month of solid gains. On Friday, the government will issue the August jobs report. The forecast is that U.S. employers added 220,000 jobs and that the unemployment rate dipped to 6.1 percent from 6.2 percent.

"The backdrop is looking pretty rosy for the U.S. economy and we think that this could translate into (higher) corporate profits through stronger revenue," said David Lebovitz, a global market strategist at JPMorgan Asset Management.

Despite the encouraging signs, the stock market started giving up its gains in afternoon trading Thursday, before ending the day with a small loss.

Energy stocks were the biggest drag on the market, sagging to their biggest one-day loss in a month, as the price of oil slumped. Energy stocks dropped 1.3 percent and the price of oil closed the day down 1.1 percent at $94.45 a barrel.

Oil fell after government data showed that U.S. supplies fell less than expected last week. The price of oil, which is traded in dollars, was also hit by the strengthening U.S. currency.

Among other stocks making big moves, PVH was the biggest gainer in the S&P 500.

The company, which owns of the Calvin Klein and Tommy Hilfiger brands, surged $11.25, or 9.6 percent, to $128.30, after reporting earnings that exceeded the expectations of Wall Street analysts.

Government bond prices fell. The yield on the 10-year Treasury note, which moves inversely to its price, climbed to 2.45 percent, from 2.40 percent late Wednesday.

In metals trading, gold closed down $3.80, or 0.3 percent, at $1,266.50 an ounce. Silver slipped 5.1 cents, or 0.3 percent, to $19.14 an ounce. Copper prices rose, climbing to 2.4 cents, or 0.8 percent, to $3.15 per pound.

In addition to oil, other energy prices fell. Heating oil dropped 3 cents to $2.836 a gallon and natural gas declined 2.8 cents to $3.819 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	67.78	points or ▲	0.40%	on	Friday, 5 September 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,137.36	▲	67.78	▲	0.40%		
	Nasdaq____	4,582.90	▲	20.61	▲	0.45%		
	S&P_500___	2,007.71	▲	10.06	▲	0.50%		
	30_Yr_Bond____	3.24	▲	0.03	▲	1.00%		

NYSE Volume	 2,815,743,000 	 	 	 	 	  		 
Nasdaq Volume	 1,621,801,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,855.10	▼	-22.87	▼	-0.33%		
	DAX_____	9,747.02	▲	22.76	▲	0.23%		
	CAC_40__	4,486.49	▼	-8.45	▼	-0.19%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,598.90	▼	-33.20	▼	-0.59%		
	Shanghai_Comp	2,326.43	▲	19.57	▲	0.85%		
	Taiwan_Weight	9,407.94	▼	-20.95	▼	-0.22%		
	Nikkei_225___	15,668.68	▼	-7.50	▼	-0.05%		
	Hang_Seng.__	25,240.15	▼	-57.77	▼	-0.23%		
	Strait_Times.__	3,341.73	▼	-4.61	▼	-0.14%		
	NZX_50_Index_	5,253.87	▲	25.32	▲	0.48%		

http://finance.yahoo.com/news/asia-stocks-fluctuate-ahead-us-jobs-report-055310513.html

*S&P 500 hits record on dividend stocks, Ukraine

S&P 500 hits record as investors buy dividend-rich utility stocks; Ukraine outlook improves*
Associated Press
By Steve Rothwell, AP Business Writer 

NEW YORK (AP) -- A surge in dividend-rich utility stocks helped push the Standard & Poor's 500 index to a record Friday.

Investors bought up the stocks after the government reported that U.S. employers added fewer jobs than forecast for August. That boosted demand for bonds and pushed down their yields. In turn, stocks with big dividends became more attractive to investors seeking income-paying securities.

The stock market also got a lift from a cease-fire agreement between Ukraine and Russian-backed separatists, aimed at bringing an end to nearly five months of fighting. Stocks had slumped at the beginning of August amid worries that the conflict in Ukraine would spiral out of control and inflame tensions between Russia and the West.

"That development is a positive," said Jerry Braakman, chief investment officer of First American Trust. "Further sanctions on Russia, and excluding them from the Western economies, sets global trade back."

The S&P 500 index rose 10.06 points to 2,007.71, surpassing its previous record close of 2,003.37, set Aug. 29. The index has now logged 33 all-time highs this year.

The Dow Jones industrial average gained 67.78 points, or 0.4 percent, to 17,137.36. The Nasdaq composite gained 20.61 points, or 0.5 percent, to 4,582.90.

Stocks had started the day lower after a disappointing jobs report.

U.S. employers added 142,000 jobs in August, snapping a six-month streak of hiring above 200,000 and posting the smallest gain in eight months, the Labor Department said Friday. Economists had expected employers to add 220,000 jobs.

Many analysts reasoned that, while the report was disappointing, the slowdown in the pace of hiring was not drastic enough to suggest that the overall trend had changed. Friday's news was also at odds with reports earlier this week that showed the economy is still strengthening. Construction and the service industry, for example, were strong.

"I would avoid reading too much into one number," said Russ Koesterich, chief investment strategist at BlackRock. "This is an outlier....the weight of evidence suggests that the U.S. is going to have a decent third quarter."

Bond prices initially rose on the disappointing hiring news. The yield on the 10-year Treasury note, which moves in the opposite direction of price, dropped as low as 2.41 percent, before gradually giving up most of its gains throughout the day and edging up to 2.46 percent from 2.45 percent on Thursday. The yield has slumped from 3 percent at the start of this year.

The early drop in bond yields boosted demand for utility stocks. The lower bond yields are, the more attractive dividend-rich utilities appear to investors who are looking for an income. The slump in bond yields this year has helped make the utilities sector the second-best performer in the S&P 500 index, with a gain of 14 percent.

Among individual stocks making big moves Friday, Vertex Pharmaceuticals was the biggest gainer in the S&P 500 index.

The drugmaker's stock rose $3.49, or 3.8 percent, to $95.04 after analysts at Goldman Sachs raised their rating on the stock to "buy" from "neutral," citing the outlook for the company's cystic fibrosis treatment.

Michael Kors was the biggest decliner in the index.

The clothing retailer fell $3.58, or 4.5 percent, to $76.39 after Sportswear Holdings, one of its principal founding stockholders, said it was selling its remaining shares in the luxury retailer. Sportswear Holdings had a 5.7 percent stake in the company.

In currency trading, the euro rebounded from a slump on Thursday, when the European Central Bank surprised markets by cutting interest rates and announcing a new stimulus program. Europe's single currency rose 0.1 percent to $1.2952 Friday. The dollar was at 105.07 yen after rising as high as 105.71 yen, the highest level since October 2008.

Oil fell as the cease-fire between Ukraine and pro-Russian separatists removed some of the so-called fear premium.

Benchmark crude oil closed down $1.16, or 1.2 percent, to $93.29 a barrel in New York after falling $1.09 on Thursday. In other energy trading on the New York Mercantile Exchange wholesale gasoline dropped 1.7 cents to $2.583 a gallon, heating oil lost 1.7 cents to $2.819 a gallon and natural gas fell 2.6 cents to $3.793 per 1,000 cubic feet.

Most metals rose. Gold closed up 80 cents, or 0.1 percent, at $1,267.30 an ounce. Silver edged up 1.8 cents, or 0.1 percent, to $19.16 an ounce. Copper prices also gained, climbing to 1.8 cents, or 0.6 percent, to $3.17 per pound.

Chinese e-commerce company Alibaba Group said after the stock market close that it was seeking to raise up to $24.3 billion in its upcoming IPO, an amount that would be the most ever raised by a company heading into its stock market debut.

3237


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-25.94	points or ▼	-0.15%	on	Monday, 8 September 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,111.42	▼	-25.94	▼	-0.15%		
	Nasdaq____	4,592.29	▲	9.38	▲	0.20%		
	S&P_500___	2,001.54	▼	-6.17	▼	-0.31%		
	30_Yr_Bond____	3.22	▼	-0.01	▼	-0.43%		

NYSE Volume	 2,772,352,250 	 	 	 	 	  		 
Nasdaq Volume	 1,649,360,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,834.77	▼	-20.33	▼	-0.30%		
	DAX_____	9,758.03	▲	11.01	▲	0.11%		
	CAC_40__	4,474.93	▼	-11.56	▼	-0.26%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,578.90	▼	-20.00	▼	-0.36%		
	Shanghai_Comp	2,326.43	▲	19.57	▲	0.85%		
	Taiwan_Weight	9,407.94	▼	-20.95	▼	-0.22%		
	Nikkei_225___	15,705.11	▲	36.43	▲	0.23%		
	Hang_Seng.__	25,190.45	▼	-49.70	▼	-0.20%		
	Strait_Times.__	3,335.19	▼	-6.54	▼	-0.20%		
	NZX_50_Index_	5,261.75	▲	7.88	▲	0.15%		

http://finance.yahoo.com/news/asian-stocks-meander-mixed-china-031206866.html

*Stocks fall as oil price slump hits energy sector*
Associated Press
By KEN SWEET 

NEW YORK (AP) ”” A retreat in oil and energy stocks pulled the rest of the U.S. stock market mostly lower Monday.

Campbell Soup declined after the company said its 2015 profits would miss analysts' expectations. Yahoo, which owns a stake in Alibaba, jumped in anticipation of the giant Chinese technology company going public.

The Dow Jones industrial average fell 25.94 points, or 0.2 percent, to 17,111.42. The Standard & Poor's 500 index lost 6.17 points, or 0.3 percent, to 2,001.54 and the Nasdaq composite added 9.39 points, or 0.2 percent, to 4,592.29.

Energy stocks were by far the biggest drag on the market. The energy component of the S&P 500 fell 1.6 percent, compared to the modest 0.3 percent decline in the main index.

Exxon Mobil, the world's largest publicly traded oil company, dropped $1.49, or 1.5 percent, to $97.77. It was the biggest loser among the Dow's 30 members.

The decline in energy stocks was linked to a recent sell-off in the price of oil. Benchmark U.S. crude oil for October delivery fell 63 cents, or 0.7 percent, to $92.66 a barrel, the lowest price since January.

Oil prices have fallen for three days straight as geopolitical worries in Ukraine and particularly in Iraq have eased. Also impacting crude oil was a report out of China that showed manufacturing in the world's second-largest economy was slowing down.

"The market is trading lower on this subdued, weaker global outlook," said Jack Ablin, chief investment strategist at BMO Private Bank.

The three biggest decliners in the S&P 500 were oil drilling and exploration companies, which rely on high oil prices to justify pulling crude oil out of remote parts of the planet. Newfield Exploration, Nabors Industries, EOG Resources all fell 3 percent or more.

Some strategists say the decline in oil prices is likely to be temporary.

"I suspect oil cannot fall further than $90 a barrel," said Paul Christopher, a chief international investment strategist at Wells Fargo Advisors, who focuses on the oil market. "Saudi Arabia and other OPEC members will start cutting production if oil continues to fall like this."

Another international concern for investors is in Europe, where a drive for Scottish independence seems to be gaining momentum. Once considered a far-flung idea, a recent poll by YouGov showed rising support for a break from the United Kingdom.

Scotland's economy is not large enough to derail the region's economy, but a breakup of the U.K. could potentially be messy for investors, strategists say. Which of the U.K.'s bonds would go to Scotland? Can Scotland's economy function on its own, while still using the British pound? Who would take control of the oil reserves north of Scotland?

"A vote for independence or fear of that outcome may roil financial markets over the next two weeks," Bill Stone, chief investment strategist at PNC Asset Management, wrote in an e-mail.

Stocks in London, particularly those with links to Scotland, fell. Britain's FTSE 100 index lost 0.3 percent. Investors also sold the British pound, which fell to lowest level in nearly a year.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.47 percent. In metals trading, the price of gold fell $13 to $1,254.30 an ounce, silver fell 20 cents to $18.96 an ounce and copper was flat at $3.17 a pound.

In other energy trading, Brent crude, a benchmark for international crudes imported by U.S. refiners, slipped 62 cents to $100.20 a barrel in London. Wholesale gasoline lost 2.15 cents to $2.562 a gallon and natural gas gained 8.3 cents to $3.876 per 1,000 cubic feet.

Among individual stocks:

””China's Alibaba Group is seeking to raise up to $24.3 billion from its initial public offering, which would be the largest of all time. Alibaba Group is expected to make its long-awaited debut on the New York Stock Exchange later this month. Yahoo was an early investor in Alibaba and owns 23 percent of the company and is expected to be the largest seller of shares in Alibaba's IPO. Yahoo jumped $2.22, or 5.5 percent, to $41.81.

””Campbell Soup fell $1.15, or 2.5 percent, to $43.39 after the company reported sales that were weaker than analysts were expecting. Campbell also expects its earnings to be slow next year.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-97.55	points or ▼	-0.57%	on	Tuesday, 9 September 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,013.87	▼	-97.55	▼	-0.57%		
	Nasdaq____	4,552.29	▼	-40.00	▼	-0.87%		
	S&P_500___	1,988.44	▼	-13.10	▼	-0.65%		
	30_Yr_Bond____	3.23	▲	0.01	▲	0.31%		

NYSE Volume	 2,854,040,000 	 	 	 	 	  		 
Nasdaq Volume	 1,928,742,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,829.00	▼	-5.77	▼	-0.08%		
	DAX_____	9,710.70	▼	-47.33	▼	-0.49%		
	CAC_40__	4,452.37	▼	-22.56	▼	-0.50%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,608.20	▲	29.30	▲	0.53%		
	Shanghai_Comp	2,326.53	▲	0.09	▲	0.00%		
	Taiwan_Weight	9,434.77	▲	26.83	▲	0.29%		
	Nikkei_225___	15,749.15	▲	44.04	▲	0.28%		
	Hang_Seng.__	25,190.45	▼	-49.70	▼	-0.20%		
	Strait_Times.__	3,342.96	▲	7.77	▲	0.23%		
	NZX_50_Index_	5,243.70	▼	-18.05	▼	-0.34%		

http://finance.yahoo.com/news/asian-stock-markets-muted-yen-050819015.html

*Stocks fall for second day; Apple slips

US stocks fall moderately; Apple product announcements drag down Garmin, eBay and Fossil*
Associated Press
By Ken Sweet, AP Business Writer 

NEW YORK (AP) -- Stocks fell for a second straight day Tuesday as investors were left unimpressed by Apple's latest batch of product announcements.

Negative news out of Home Depot and McDonald's also weighed on the market.

The Dow lost 97.55 points, or 0.6 percent, to 17,013.87, its biggest one-day drop in a month. The Standard & Poor's 500 index lost 13.10 points, or 0.7 percent, to 1,988.44 and the Nasdaq composite lost 40 points, or 0.9 percent, to 4,552.29.

Investors had little in the way of economic data to digest, so trading was largely dominated by the news out of Apple. The California-based tech titan announced an updated version of its iPhone, a smartwatch as well as payment system to compete with traditional debit and credit cards.

The iPhone 6 and its various iterations were well received by investors, as was the payment system, which would allow a shopper to purchase a product simply by holding his or her iPhone close to a sensor. Apple had been up as much as 4 percent after the products were unveiled.

The smartwatch left some investors scratching their heads, however, and the Apple rally quickly faded. The watch doesn't come out until next year, costs $350, and would require an iPhone near it to work. It was hardly the new product category that investors had hoped it might be.

"I don't know if they're swimming up the right river with this watch," said Dan Morgan, a senior portfolio manager at Synovus Trust Company, who has been a long-time investor in Apple shares. "It looks like an add-on product, not something that has the potential to be a phenomenon."

At the end of the day, Apple fell 37 cents, or 0.4 percent, to $97.99.

Apple is often volatile on days it announces products. Yet while the decline in Apple's own stock was modest, its product news had ripple effects in various parts of the market.

GPS device maker Garmin and watch company Fossil fell 3.5 percent and 2 percent, respectively. Both companies are looking to claim a stake in smartwatch industry, with Garmin heavily invested in watches used by athletes to track their performance. Fossil recently announced a partnership with Intel to develop smartwatches.

Investors saw Apple's payment system as a direct competitor to eBay's PayPal division, causing eBay to fall sharply in afternoon trading. EBay closed down $1.50, or 3 percent, to $52.73.

Other payment system companies, such as Alliance Data Systems, also took a beating. Google, who is been trying to get into the mobile payment market as well as competes directly with Apple in phones, fell $8.71, or 2 percent, to $581.01.

Unrelated to the Apple announcement, the news out of Home Depot didn't help the market either. Home Depot fell $1.89, or 2 percent, to $88.93 after the home improvement chain said hackers had broken into its in-store payment systems.

Home Depot's problem follows a massive data breach at Target nearly a year ago, raising concerns it is likely other major retailers could be targeted as well.

McDonald's, another Dow member, fell $1.41, or 1.5 percent, to $91.09 after the company announced that global sales fell nearly 4 percent in August. In the U.S., typically a steady market for the fast food giant, sales fell nearly 3 percent.

Investors also had their eyes on the currency market.

The dollar extended its rally, hitting 106.20 yen, the highest since September 2008. Compared with other major currencies hurt by bad economic news in their home countries, the dollar appears attractive. The Federal Reserve is expected to end part of its stimulus program by October and is considering rate hikes, signs of greater confidence in the U.S. economic recovery.

If the dollar were to continue to rally, it may start to hurt U.S. corporate profits. A higher dollar makes U.S.-made products more expensive abroad, which makes them harder to sell compared with foreign-made goods. Investors don't expect the dollar rally to continue over the long term, however.

"This could temporarily weigh on U.S. corporate profits, but U.S. companies generate so much business domestically that any impact would be modest," said David Lebovitz, a global market strategist at J.P. Morgan Funds.

In other markets, bond prices fell slightly. The yield on the 10-year Treasury note rose to 2.50 percent.

The price of U.S. oil steadied after three days of steep drops. Benchmark U.S. crude rose 9 cents to close at $92.75 a barrel on the New York Mercantile Exchange.

Brent crude, a benchmark for international oils used by many U.S. refineries, fell sharply on further predictions of lower global demand. Brent fell $1.04 to close at $99.16 on the ICE Futures exchange in London, the lowest close since May 2013.

In metals trading, the price of gold fell $5.80 to $1,248.50 an ounce, silver fell four cents to $18.92 an ounce and copper fell seven cents to $3.10 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	54.84	points or ▲	0.32%	on	Wednesday, 10 September 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,068.71	▲	54.84	▲	0.32%		
	Nasdaq____	4,586.52	▲	34.24	▲	0.75%		
	S&P_500___	1,995.69	▲	7.25	▲	0.36%		
	30_Yr_Bond____	3.27	▲	0.04	▲	1.11%		

NYSE Volume	 2,911,345,500 	 	 	 	 	  		 
Nasdaq Volume	 1,784,654,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,830.11	▲	1.11	▲	0.02%		
	DAX_____	9,700.17	▼	-10.53	▼	-0.11%		
	CAC_40__	4,450.79	▼	-1.58	▼	-0.04%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,574.40	▼	-33.80	▼	-0.60%		
	Shanghai_Comp	2,318.31	▼	-8.22	▼	-0.35%		
	Taiwan_Weight	9,357.61	▼	-77.16	▼	-0.82%		
	Nikkei_225___	15,788.78	▲	39.63	▲	0.25%		
	Hang_Seng.__	24,705.36	▼	-485.09	▼	-1.93%		
	Strait_Times.__	3,338.63	▼	-4.33	▼	-0.13%		
	NZX_50_Index_	5,236.66	▼	-7.04	▼	-0.13%		

http://finance.yahoo.com/news/global-stocks-lower-growth-worries-083827151.html

*US stocks end higher as Apple shares jump*
Associated Press
By BERNARD CONDON

NEW YORK (AP) ”” U.S. stocks broke two days of losses on Wednesday as a jump in Apple shares helped push indexes higher.

Apple rose 3.1 percent, its biggest gain since April, a day after announcing updated versions of the iPhone, a new smartwatch and a mobile payment system. The company is the largest component of both the Standard & Poor's 500 and Nasdaq composite indexes.

Gains in the broad market were muted as investors fretted over the timing and pace of Federal Reserve increases in interest rates, which are widely expected next year.

"The economy is getting better, and that worries people," said John Manley, chief equity strategist at Wells Fargo Funds Management. "People are afraid the Fed will raise rates too quickly."

A drop in a key oil price to the lowest level since in nearly 1  ½ years also weighed on the market. Several oil companies fell. Chevron dropped 0.7 percent.

Apple made the biggest splash on a slow day for news. Investors scrambled to understand the impact of its new products on the fortunes of other companies, sending a number of stocks sharply higher, and others sharply lower.

EBay fell 3 percent over fears its PayPal division will lose business to Apple's new payment system. But GPS device maker Garmin reversed big losses from Tuesday with a gain of 4 percent as investors seemed to dismiss the threat from the Apple's smartwatch.

Apple closed at $101, up $3.01. It is has gained 26 percent since the beginning of the year.

The Dow Jones industrial average ended the day up 54.84 points, or 0.3 percent, to 17,068.71. The S&P 500 rose 7.25 points, or 0.4 percent, to 1,995.69.

The Nasdaq rose 34.24 points, or 0.8 percent, to 4,586.52. Apple comprises 8.5 percent of the tech-heavy index, so a big move in its stock price has an outsize influence on tech-heavy index.

Investors were questioning whether the U.S. Federal Reserve might raise its benchmark interest rate earlier than many had expected as the economy gains strength. In a note to clients Wednesday morning, Steven Ricchiuto, chief economist at Mizuho Securities, said he thinks the consensus over the timing of the first increase will soon shift to early next year, rather than over the summer.

"The worst things for stocks would be the Fed to raise rates sooner rather than later," said Ricchiuto in a phone interview.

Adding to the nervousness was a paper earlier this week from two San Francisco Fed economists that said the public appears to expect a "more accommodative" policy, meaning low rates for longer, than do Fed board members.

Investors will be watching a report on unemployment claims out Thursday and one on retail sales Friday for a read on the economy.

Also weighing on markets was a $1.12 drop in Brent crude to close at $98.04 a barrel, the lowest price since May 2013. It was the fifth straight drop for Brent crude, a benchmark for international oils used by many U.S. refineries.

The price of U.S. benchmark oil also fell to its lowest level since January after the Energy Department reported large increases in stocks of gasoline and diesel. Benchmark U.S. crude fell $1.08 cents to close at $91.67 a barrel on the New York Mercantile Exchange.

In other energy futures trading, wholesale gasoline fell 2.1 cents to close at $2.527 a gallon and natural gas fell 3 cents to close at $3.954 per 1,000 cubic feet.

Among stocks making big moves:

”” Krispy Kreme Doughnuts fell 54 cents, or 3 percent, to $17.07 after its second-quarter earnings fell short of analysts' expectations. The stock is down 12 percent since the start of the year.

”” Palo Alto Networks rose $9.47, or 11 percent, to $98.75 after the security-software maker forecast healthier revenue in its first quarter.

The price of the 10-year Treasury note fell. The yield rose to 2.54 percent from 2.50 percent on Tuesday.

In metals trading, the price of gold fell $3.20 to $1,245.30 an ounce. Silver was flat at $18.93 an ounce and copper edged up a penny to $3.11 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-19.71	points or ▼	-0.12%	on	Thursday, 11 September 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,049.00	▼	-19.71	▼	-0.12%		
	Nasdaq____	4,591.81	▲	5.28	▲	0.12%		
	S&P_500___	1,997.45	▲	1.76	▲	0.09%		
	30_Yr_Bond____	3.25	▼	-0.01	▼	-0.46%		

NYSE Volume	 2,939,880,500 	 	 	 	 	  		 
Nasdaq Volume	 1,688,450,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,799.62	▼	-30.49	▼	-0.45%		
	DAX_____	9,691.28	▼	-8.89	▼	-0.09%		
	CAC_40__	4,440.90	▼	-9.89	▼	-0.22%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,546.90	▼	-27.50	▼	-0.49%		
	Shanghai_Comp	2,311.68	▼	-6.63	▼	-0.29%		
	Taiwan_Weight	9,322.95	▼	-34.66	▼	-0.37%		
	Nikkei_225___	15,909.20	▲	120.42	▲	0.76%		
	Hang_Seng.__	24,662.64	▼	-42.72	▼	-0.17%		
	Strait_Times.__	3,347.28	▲	8.65	▲	0.26%		
	NZX_50_Index_	5,262.32	▲	25.67	▲	0.49%		

http://finance.yahoo.com/news/global-stocks-lower-growth-worries-083827151.html
*
Stocks end mixed; Health care stocks slump

Stocks extend sluggish start to September, close mixed; Lululemon climbs on earnings*
Associated Press
By Steve Rothwell, AP Business Writer

NEW YORK (AP) -- A sluggish September continued for U.S. stocks as investors assessed the outlook for interest rates, the latest sanctions against Russia and volatile energy prices.

Stocks ended the day mixed after gains for dividend-rich utilities stocks largely offset a slump in health care companies. Lululemon, the high-end yoga apparel maker, surged after reporting earnings that surpassed analyst's forecasts.

The stock market has had a slow start to the month, and the Standard & Poor's is on track to end the week with a loss for the first time in six weeks. Investors are struggling to find an impetus to push prices higher with the market close to all-time highs.

"The market might just be pausing here to digest and see what we have to propel it one way or the other," said Jeff Morris, Head of U.S. Equities at Standard Life Investments.

The Standard & Poor's 500 index rose 1.76 points, or 0.1 percent, to 1,997.45. The Dow Jones industrial average dropped 19.71 points, or 0.1 percent, to 17,049. The Nasdaq composite rose 5.28 points, or 0.1 percent, to 4,591.81.

Stocks started the day lower, led by a big decline for energy stocks as the price of oil extended its declines from a day earlier. Oil futures turned higher throughout the morning as traders judged that new sanctions against Russia over its involvement in Ukraine might crimp supplies. As oil prices rebounded, so did energy stocks.

The price of oil rose $1.16 to close at $92.83 a barrel on the New York Mercantile Exchange, after dropping close to $90 a barrel in early trading.

The stock market gains were led by utilities, which climbed 0.9 percent.

Health care stocks fell the most, declining 0.3 percent. The industry has been the best performing sector this year, climbing 15.5 percent, compared to a gain of 8.1 percent for the broader index.

The Federal Reserve is never far from investors' minds, and many are already looking forward to next week's meeting of policy makers. The Fed is currently winding down its economic stimulus measures, and investors will be expecting an update on the economy and more insight into when the central bank might begin raising interest rates. The Fed concludes its latest two-day policy meeting next Wednesday.

"Interest rates have not been a headwind (for stocks) for some time now," said Jim Russell, a regional investment director at USBank. "We are entering into a period now where they will have to be considered again."

In currency trading, the dollar continued its ascent against the Japanese yen. The U.S. currency is at its highest level in six years against the yen. On Thursday one dollar bought 107.30 yen. The dollar fell to $1.292 against the euro.

Government bond prices were little changed. The yield on the 10-year Treasury note, which rises when prices fall, rose to 2.55 percent from 2.54 percent on Wednesday.

The price of gold fell $6.30 to $1,239 an ounce, silver fell 33 cents to $18.60 an ounce and copper fell two cents to $3.09 a pound.

In other energy trading, Brent crude, a benchmark for international oils used by many U.S. refineries, rose 4 cents to close at $98.08 on the ICE Futures exchange in London. Wholesale gasoline 0.3 cent to close at $2.524 a gallon, and natural gas fell 13.1 cents to close at $3.823 per 1,000 cubic feet after the Energy Department reported a larger-than-expected increase in natural gas inventories.

Among individual stocks making big moves:

”” Lululemon jumped $5.34, or 14 percent, to $43.73 after the troubled yoga-gear retailer reported earnings that beat analysts' expectations. The company also raised its full-year forecast. Lululemon has been trying to turn itself around since last spring, when it pulled one of its popular yoga pants from stores because they were too sheer.

”” Pandora Media rose 84 cents, or 3 percent, to $26.94. The streaming music company said it had agreed to a multiyear deal with BMG, a music rights management company. BMG represents the music rights of artists including John Legend and Bruno Mars.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-61.49	points or ▼	-0.36%	on	Friday, 12 September 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,987.51	▼	-61.49	▼	-0.36%		
	Nasdaq____	4,567.60	▼	-24.21	▼	-0.53%		
	S&P_500___	1,985.54	▼	-11.91	▼	-0.60%		
	30_Yr_Bond____	3.35	▲	0.10	▲	2.98%		

NYSE Volume	 3,194,272,750 	 	 	 	 	  		 
Nasdaq Volume	 1,755,416,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,806.96	▲	7.34	▲	0.11%		
	DAX_____	9,651.13	▼	-40.15	▼	-0.41%		
	CAC_40__	4,441.70	▲	0.80	▲	0.02%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,532.30	▼	-14.60	▼	-0.26%		
	Shanghai_Comp	2,331.95	▲	20.27	▲	0.88%		
	Taiwan_Weight	9,223.18	▼	-99.77	▼	-1.07%		
	Nikkei_225___	15,948.29	▲	39.09	▲	0.25%		
	Hang_Seng.__	24,595.32	▼	-67.32	▼	-0.27%		
	Strait_Times.__	3,345.55	▼	-1.73	▼	-0.05%		
	NZX_50_Index_	5,223.96	▼	-38.36	▼	-0.73%		

http://finance.yahoo.com/news/asia-stocks-muted-tokyo-edges-064147915.html

*Stocks decline amid interest rate worries

Stocks decline amid interest rate worries; Treasurys drop for seventh straight day*
Associated Press
By Steve Rothwell, AP Market Writers

NEW YORK (AP) -- The prospect of rising interest rates sent the stock market to its first weekly loss since early August.

The Standard & Poor's 500 index fell 11.91 points, or 0.6 percent, to end at 1,985.54 on Friday. The index was down 1.1 percent for the week.

Declines were led by utility companies and other stocks that pay high dividends. Those stocks have been in favor this year as investors hunt for other sources of income because bond yields have been low.

Now that the yield on the ultra-safe 10-year Treasury note has shot to 2.61 percent — its highest level in two months — investors are less willing to hold riskier stocks, even those paying a rich dividend.

The recent rise in bond yields was bolstered Friday by a report showing that U.S. retail sales rose faster last month than economists forecast. That reinforced expectations that the Federal Reserve may start hiking interest rates sooner than expected. The central bank has nearly finished winding down its stimulus program and policy makers start a two-day meeting on Tuesday.

The yield on the 10-year Treasury note has now climbed for seven straight days.

"As the economic data continues to move along this positive trajectory, interest rates are going to rise," said Quincy Krosby, a market strategist at Prudential Financial. "The market is going to have to accept that."

Other stock indexes fell Friday. The Dow Jones industrial average lost 61.49 points, or 0.4 percent, to 16,987.51 The Nasdaq composite dropped 24.21 points, or 0.5 percent, to 4,567.60.

The yield on the 10-year Treasury note has risen from 2.34 percent at the start of the month and is trading at its highest level since early July.

Higher interest rates mean that companies and consumers have to pay more to borrow, leaving them with lower profits and less money to spend.

Yet investors shouldn't jump the gun on concerns that rising rates will end the stock market's five-year bull run, said Randy Frederick, a trading strategist at Charles Schwab. As long as the economy is improving, stocks can continue to move higher.

"Generally, the market goes through a correction and then the bull market continues," said Frederick.

On Friday, high dividend payers, like utilities and telecoms stocks, sold off. Real estate investment trusts also slumped.

Utility stocks fell 1.8 percent, the biggest drop of the 10 sectors that make up the S&P 500. Energy stocks dropped 1.5 percent and phone company stocks slumped 1.2 percent.

The price of oil fell on concerns that global demand is falling while supplies remain ample. Benchmark U.S. crude fell 52 cents to close at $92.27 a barrel on the New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 12 cents to close at $97.96 in London. It was Brent's first close below $98 since April of 2013.

Wholesale gasoline fell 0.5 cent to close at $2.519 a gallon, heating oil fell 1.5 cents to close at $2.741 a gallon and natural gas rose 3.4 cents to close at $3.857 per 1,000 cubic feet.

In metals trading, gold fell $7.50 to $1,231 an ounce. Silver rose 1 cent to $18.61 an ounce and copper climbed 1.4 cents to $3.10 a pound.

In currency trading, the dollar remained firm. The euro was 0.2 percent higher at $1.2950 while the dollar rose 0.3 percent to 107.36 against the Japanese yen.

AMONG STOCKS MAKING BIG MOVES:

— Conversant, a provider of online advertising services, climbed $8.09, or 30 percent, to $34.80. The rise came after Alliance Data said late Thursday it was buying Conversant for about $2.3 billion.

— Health Care REIT, an investment trust that invests in senior housing and health care real estate, was the biggest decliner in the S&P 500. The company said it was selling an additional $1.1 billion of stock to repay debt and fund investments. Its stock dropped $3.24, or 5 percent, to $63.25.

3753


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	43.63	points or ▲	0.26%	on	Monday, 15 September 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,031.14	▲	43.63	▲	0.26%		
	Nasdaq____	4,518.90	▼	-48.70	▼	-1.07%		
	S&P_500___	1,984.13	▼	-1.41	▼	-0.07%		
	30_Yr_Bond____	3.34	▼	-0.01	▼	-0.30%		

NYSE Volume	 2,756,139,250 	 	 	 	 	  		 
Nasdaq Volume	 1,910,531,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,804.21	▼	-2.75	▼	-0.04%		
	DAX_____	9,659.63	▲	8.50	▲	0.09%		
	CAC_40__	4,428.63	▼	-13.07	▼	-0.29%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,475.40	▼	-56.90	▼	-1.03%		
	Shanghai_Comp	2,339.14	▲	7.19	▲	0.31%		
	Taiwan_Weight	9,217.46	▼	-5.72	▼	-0.06%		
	Nikkei_225___	15,948.29	▲	39.09	▲	0.25%		
	Hang_Seng.__	24,356.99	▼	-238.33	▼	-0.97%		
	Strait_Times.__	3,312.47	▼	-33.08	▼	-0.99%		
	NZX_50_Index_	5,210.86	▼	-13.10	▼	-0.25%		

http://finance.yahoo.com/news/global-stocks-down-weak-china-091349714.html

*Stocks mixed ahead of Fed; small companies slump*
Associated Press
By STEVE ROTHWELL

NEW YORK (AP) ”” Investors played it safe on Monday ahead of a potentially pivotal Federal Reserve meeting. While large company stocks ended the day little changed, smaller, riskier stocks slumped.

Fed policy makers start a two-day meeting on Tuesday and many investors expect the central bank to indicate that it is moving closer to raising its key interest rate as the economy continues to strengthen. The Fed has held the rate close to zero for more than five years, and stocks have surged against that backdrop.

"Reading the tea leaves, it seems that investors are trying to position themselves for a more aggressive Fed," said Jack Ablin, chief investment officer at BMO Private Bank.

The Dow Jones industrial average rose 43.63 points, or 0.3 percent, to 17,031.14. The Standard & Poor's 500 index dropped 1.41, or 0.1 percent, to 1,984.13. The Nasdaq composite fell 48.70 points, or 1.1 percent, to 4,518.90.

The Russell 2000 index, an index of small company stocks, slipped 14.09 points, or 1.2 percent, to 1,146.52.

Among individual stocks, Molson Coors was the biggest gainer in the S&P 500.

The brewer's stock rose $4.20, or 5.8 percent, to $76, after touching an all-time high. The brewer's stock jumped on merger news in the beer industry. Heineken said late Sunday that it has rejected a takeover bid by rival SABMiller, the world's second-largest brewer. Reports said that SABMiller tried to buy Heineken as a defense against an acquisition bid from Anheuser-Busch InBev, the industry leader.

The news on the economy on Monday was mixed.

U.S. manufacturing output declined in August for the first time in seven months, reflecting a sharp fall in production at auto plants. Output at manufacturing plants fell 0.4 percent in August after a 0.7 percent rise in July, the Federal Reserve reported.

On the other hand, a gauge of manufacturing in New York state jumped to 27.5 in August from 14.7 in July.

Some strategists say that investors shouldn't focus too much about the upcoming Fed meeting, because policy makers will keep rates low until they are convinced that the economic recovery is entrenched. Any sell-off caused by Fed worries may even present investors with a buying opportunity, said Robert Pavlik, chief market strategist at Banyan Partners.

"It's not going to be the first time that interest rates have moved up, and it hasn't stagnated the economy," said Pavlik. "The market does well if interest rates move up gradually."

In government bond trading, prices rose. The yield on the 10-year Treasury note, which falls when prices rise, dropped to 2.59 percent from 2.61 percent late Friday, when it reached a two-month high.

Another big event that traders are watching this week is Thursday's independence referendum in Scotland. With opinion polls showing the vote too close to call, there's potential for some sizeable move in U.K. markets. The pound has turned volatile in recent weeks as opinion polls have narrowed. On Monday, the pound was 0.2 percent lower at $1.6231.

In other currency trading, the dollar gained against the euro, but fell against the Japanese yen. The dollar rose 0.2 percent to $1.29 per euro. It fell 0.1 percent to 107.2 against the yen.

Oil reversed an early decline and finished with a gain amid forecasts that the latest Energy Department report on U.S. oil supplies, due Wednesday, will show a decline. Benchmark U.S. crude oil rose 65 cents to $92.92 a barrel. Brent crude, a benchmark for international crude oils imported by many U.S. refineries, slipped 2 cents to $96.65.

In other energy futures trading on the New York Mercantile Exchange, wholesale gasoline rose 1.2 cents to $2.531 a gallon. Heating oil was flat at $2.74 a gallon and natural gas rose 7.4 cents to $3.931 per 1,000 cubic feet.

In metals trading, gold rose $3.6, or 0.3 percent, to $1,253.10. Silver gained 1.4 cents, or 0.1 percent, to $18.62. Copper fell 2.1 cents, or 0.7 percent, to $3.09 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	100.83	points or ▲	0.59%	on	Tuesday, 16 September 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,131.97	▲	100.83	▲	0.59%		
	Nasdaq____	4,552.76	▲	33.86	▲	0.75%		
	S&P_500___	1,998.98	▲	14.85	▲	0.75%		
	30_Yr_Bond____	3.35	▲	0.01	▲	0.39%		

NYSE Volume	 3,156,396,000 	 	 	 	 	  		 
Nasdaq Volume	 1,845,632,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,792.24	▼	-11.97	▼	-0.18%		
	DAX_____	9,632.93	▼	-26.70	▼	-0.28%		
	CAC_40__	4,409.15	▼	-19.48	▼	-0.44%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,446.20	▼	-29.20	▼	-0.53%		
	Shanghai_Comp	2,296.56	▼	-42.58	▼	-1.82%		
	Taiwan_Weight	9,133.40	▼	-84.06	▼	-0.91%		
	Nikkei_225___	15,911.53	▼	-36.76	▼	-0.23%		
	Hang_Seng.__	24,136.01	▼	-220.98	▼	-0.91%		
	Strait_Times.__	3,272.62	▼	-39.85	▼	-1.20%		
	NZX_50_Index_	5,189.79	▼	-21.07	▼	-0.40%		

http://finance.yahoo.com/news/global-stocks-down-weak-china-091349714.html

*Stocks end higher as investors await news from Fed

US stocks end higher as investors await news from Fed meeting; health care stocks gain most*
Associated Press
By Bernard Condon, AP Business Writer

NEW YORK (AP) -- The stock market rose Tuesday as investors waited to find out when the Federal Reserve might raise interest rates.

Stocks flitted between gains and losses through most of morning, then turned broadly higher in the afternoon on an increase in health care and utility stocks.

"The economy continues to improve in the U.S., and there's still an accommodative Fed," said Brad Sorensen, director of market and sector research at the Schwab Center for Financial Research. "We think the bull market has further to run."

The Fed has held a key short-term interest rate close to zero for more than five years, making it cheaper for companies and consumers to borrow and boosting corporate profits. That has helped push stocks higher. But investors widely expect the Fed to start raising rates in the middle of next year.

Investors may get a better sense of how soon after the central bank concludes a two-day meeting Wednesday. Fed Chair Janet Yellen could discuss the bank's rate plans, as well as the outlook for employment and inflation, in a press conference in the afternoon.

Jonathan D. Corpina, senior managing partner at Meridian Equity Partners, said there was talk among traders during the day about what the Fed might do, but little new insight.

"There' a lot of chatter, but nothing that's real," he said from the floor of the New York Stock Exchange.

Until the closing minutes, the Dow Jones industrial average looked like it would rise to a record, but prices faltered at the end. Still the blue-chip index ended up gaining 100.83, its first triple-digit close since August 18. The Dow closed at 17,131.97, a gain of 0.6 percent.

The Nasdaq composite rose 33.86 points, or 0.8 percent, to 4,552.76. The Standard & Poor's 500 index climbed 14.85 points, or 0.8 percent, to 1,998.98.

Among the 10 sectors of the S&P 500, health care stocks gained the most, up 1.3 percent. Utilities and energy stocks followed, with a 1.2 percent gain each. Energy stocks were pushed higher by rising oil prices. Exxon Mobil increased 1.2 percent.

In economic news, a measure of prices that U.S. producers receive for their goods and services was unchanged in August, the latest sign that inflation is in check. A drop in wholesale gas and food prices was offset by higher prices for transportation and shipping services, the Labor Department said.

Besides the Fed press conference tomorrow, investors are awaiting a referendum on Scottish independence on Thursday. The British pound has turned volatile in recent weeks as opinion polls narrowed ahead of the vote. A "yes" decision could trigger turmoil in the market as investors ponder the economic and financial fallout.

Among stocks making big moves:

”” Humana Inc. rose $4.71 to $132.37, a gain 4 percent. The health insurer said it plans to repurchase as much as $2 billion of its own shares, double what it had previously planned. The stock has climbed 28 percent this year.

”” Sears Holdings fell $3.15, or 9 percent, to $30.37. The company is taking out a $400 million short-term loan from a hedge fund run by CEO Edward Lampert, the retail company's biggest owner. Sears has struggled against rivals like Wal-Mart Stores Inc. in recent years.

In metals trading, gold rose $1.60, or 0.1 percent, to $1,236.70 an ounce. Silver gained 10.1 cents, or 0.5 percent, or $18.72 an ounce. Copper rose 8 cents, or 2.6 percent, to $3.17 a pound.

The price of benchmark U.S. crude rose $1.96 to close at $94.88 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $1.17 to close at $99.05 in London.

In government bond trading, the yield on the 10-year Treasury note was unchanged from Monday at 2.59 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	24.88	points or ▲	0.15%	on	Wednesday, 17 September 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,156.85	▲	24.88	▲	0.15%		
	Nasdaq____	4,562.19	▲	9.43	▲	0.21%		
	S&P_500___	2,001.57	▲	2.59	▲	0.13%		
	30_Yr_Bond____	3.36	▲	0.01	▲	0.30%		

NYSE Volume	 3,167,076,500 	 	 	 	 	  		 
Nasdaq Volume	 1,753,691,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,780.90	▼	-11.34	▼	-0.17%		
	DAX_____	9,661.50	▲	28.57	▲	0.30%		
	CAC_40__	4,431.41	▲	22.26	▲	0.50%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,411.40	▼	-34.80	▼	-0.64%		
	Shanghai_Comp	2,307.89	▲	11.34	▲	0.49%		
	Taiwan_Weight	9,195.17	▲	61.77	▲	0.68%		
	Nikkei_225___	15,888.67	▼	-22.86	▼	-0.14%		
	Hang_Seng.__	24,376.41	▲	240.40	▲	1.00%		
	Strait_Times.__	3,296.48	▲	23.86	▲	0.73%		
	NZX_50_Index_	5,142.34	▼	-47.45	▼	-0.91%		

http://finance.yahoo.com/news/world-stocks-mostly-higher-ahead-084017400.html

*Dow closes at record after Fed keeps rates intact*
Associated Press
By BERNARD CONDON 

NEW YORK (AP) — The stock market rose Wednesday after the Federal Reserve told investors to expect low interest rates for a while yet, pushing the Dow Jones industrial average to a record high.

After drifting along for most of the day, stocks marched higher after the U.S. central bank released a statement signaling little change in its interest rate policy. The gains were broad, with seven of the 10 industry groups of the Standard & Poor's 500 index rising, led by materials stocks.

The Fed statement put to rest an anxious waiting game among investors that has left the S&P 500 moving between small gains and losses for weeks. A rise in the short-term rates that the Fed controls has triggered stock drops in the past.

"The Fed is not going to take the punch bowl away," said Brad McMillan, chief investment officer for Commonwealth Financial. "They didn't want to spook the market."

In its statement, the central bank retained language in that it plans to keep short-term rates low "for a considerable time" after it ends its monthly bond purchases in November. Many investors interpreted that to mean the first hike won't come until the middle of next year.

The Dow rose 24.88 points, or 0.2 percent, to end at 17,156.85 — its 16th record high this year. The S&P 500 edged up 2.59 points, or 0.1 percent, to 2,001.57, falling short of its own closing high of 2,007.71 from Sept. 5.

The Nasdaq composite was up 9.43 points, or 0.2 percent, to 4,562.19, still well below its dot-com era peak.

Shares of home builders jumped after builder confidence in the market for new homes rose to its highest level in nearly nine years. Miami-based Lennar Corp. rose nearly 6 percent, the most in the S&P 500 index.

The S&P 500 has risen 8 percent since January, extending the bull market into a sixth year. Companies have been hiring at a solid pace and manufacturing and construction have picked up.

John Lynch, regional chief investment officer for Wells Fargo Private Bank, said the stronger economy is a big reason that stocks have risen.

"The economy is tracking at a 3 percent rate of growth, and corporate profits are at a record level," he said, shortly before the Dow's record close.

But the good developments have also worried the market because they could prompt the Fed to raise interest rates to head off inflation.

On Wednesday, at least, those concerns eased. Even before the Fed policy statement, there was news that inflation is tame. The government reported that U.S. consumer prices edged down in August, the first monthly drop since the spring of 2013.

Oil fell after the Energy Department reported an unexpected increase in U.S. crude oil supplies. Benchmark U.S. oil fell 46 cents to $94.42 a barrel. Brent crude, a benchmark for international oils imported by many U.S. refineries, dropped 8 cents to $98.87 a barrel in London. Inventories of U.S. crude oil rose by 3.7 million barrels last week. Most analysts had expected a decline, which is typical for this time of year. In other energy futures, wholesale gasoline rose 1 cent to $2.569 a gallon. Heating oil fell 1.1 cents to $2.745 a gallon. Natural gas gained 1.8 cents to $4.013 per 1,000 cubic feet.

Among stocks making big moves:

— DuPont surged $3.42 to $69.25, or 5.2 percent, the biggest gain in the Dow by far. Investors bought the stock on news that activist investor Nelson Peltz had sent a letter to the company's board suggesting it split in two. His Trian Fund Management LP said it has been in private talks with DuPont for more than a year to boost shareholder value and improve its financial performance.

— FedEx rose $5.05, or 3 percent, to $159.71 after its quarterly profit beat forecasts by financial analysts. The company benefited from an increase in shipments to people shopping online.

— General Mills, the food company behind Cheerios cereal and Yoplait yogurt, fell $2.35, or 4.4 percent, to $50.83 after reporting disappointing quarterly results. Its stock was the third-biggest loser in the S&P 500.

Gold, which was flat minutes before the Fed news on interest rates, ended down 80 cents, or 0.1 percent, to $1,235.90 an ounce. Silver rose 1.3 cents, or 0.1 percent, to $18.73 an ounce. Copper fell 2.3 cents, or 0.7 percent, to $3.14 a pound.

In government bond trading, the yield on the 10-year Treasury note edged up to 2.62 percent, from 2.59 percent late Tuesday. The yield has moved between a high of 3 percent and a low of 2.34 percent this year.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	109.14	points or ▲	0.64%	on	Thursday, 18 September 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,265.99	▲	109.14	▲	0.64%		
	Nasdaq____	4,593.43	▲	31.24	▲	0.68%		
	S&P_500___	2,011.36	▲	9.79	▲	0.49%		
	30_Yr_Bond____	3.36	▲	0.00	▼	-0.15%		

NYSE Volume	 3,203,595,750 	 	 	 	 	  		 
Nasdaq Volume	 1,740,483,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,819.29	▲	38.39	▲	0.57%		
	DAX_____	9,798.13	▲	136.63	▲	1.41%		
	CAC_40__	4,464.70	▲	33.29	▲	0.75%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,419.00	▲	7.60	▲	0.14%		
	Shanghai_Comp	2,315.93	▲	8.03	▲	0.35%		
	Taiwan_Weight	9,237.03	▲	41.86	▲	0.46%		
	Nikkei_225___	16,067.57	▲	178.90	▲	1.13%		
	Hang_Seng.__	24,168.72	▼	-207.69	▼	-0.85%		
	Strait_Times.__	3,297.29	▲	0.81	▲	0.02%		
	NZX_50_Index_	5,154.18	▲	11.84	▲	0.23%		

http://finance.yahoo.com/news/world-stocks-higher-fed-scotland-122706778.html

*Good news on economy pushes stocks to record highs*
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) ”” More encouraging economic news and friendly signals from the Federal Reserve cheered investors on Thursday, as the stock market climbed to another record high.

The gains came a day after the Fed made clear that it's in no hurry to raise a key bank lending rate, easing a major concern for the stock market.

Eight of 10 industry groups in the Standard & Poor's 500 index rose, led by financial stocks.

"The question isn't 'Why are we up today?'" said Dan Veru, chief investment officer at Palisade Capital Partners in New York. "It's 'Why aren't we up a lot more?' What you're seeing is the U.S. economy growing at a modest pace, not too hot and not too cold."

Veru said it's an environment that allows the Fed to stick to a policy that coaxes businesses to borrow and spend and could fuel further gains for stocks.

The S&P 500 and Dow Jones industrial average closed at all-time highs. The S&P 500 index gained 9.79 points, or 0.5 percent, to 2,011.36. The Dow surged 109.14 points, or 0.6 percent, to 17,265.99. The Nasdaq composite climbed 31.24 points, or 0.7 percent, to 4,593.43.

The S&P Financials sector rose 1.1 percent. Bank profits could rise if short-term rates stay low while the rates they charge on longer-term loans creep higher.

The day began with good news about the economy. Fewer Americans filed first-time claims for unemployment benefits last week, according to the Labor Department. Weekly applications fell to 280,000, well below economists' forecasts. The four-week average, a less-volatile measure, also dropped.

Major markets in Europe headed higher as voters in Scotland decided whether to break from the United Kingdom. Germany's DAX advanced 1.4 percent, and France's CAC 40 gained 0.8 percent. Britain's FTSE 100 added 0.6 percent.

Scotland opened polling stations on Thursday for a referendum on whether the country should leave the United Kingdom of Great Britain and Northern Ireland to become an independent state. Opinion polls have suggested the "Yes" campaign favoring independence is neck and neck with the "No" campaign that wants Scotland to stay in the U.K.

"A 'yes' vote is likely to weigh heavily on the sterling and equities," said IG strategist Stan Shamu in a commentary. "A 'no' vote should result in a relief rally and is likely to be positive for the sterling and equities."

The pound was trading at a two-year high against the euro at â‚¬1.27, and holding steady against the dollar at $1.64.

On Wednesday in the U.S., the Fed maintained its stance of keeping short-term interest rates near zero for a "considerable time." Investors had speculated that the Fed might hint at an earlier start for rate hikes.

Among companies making big moves on Thursday, Rite Aid plunged 19 percent after it cut its profit forecasts for the full year, laying part of the blame on higher costs for generic drugs. The drugstore chain still expects sales of $26 billion this year. Rite Aid's stock fell $1.23 to $5.41.

ConAgra said its quarterly profits nearly tripled, sending its stock up $1.47, or 5 percent, to $33.48. Sales for the company behind Chef Boyardee canned pasta and Hebrew National hot dogs were flat, but other costs fell.

Alibaba Group is expected to wrap up its mammoth initial public offering later Thursday, then make its debut on the New York Stock Exchange on Friday under the symbol "BABA." The Chinese e-commerce company could raise as much as $21.8 billion from institutional investors, making it the largest IPO on record in the U.S.

Elsewhere, Hong Kong's Hang Seng finished 0.9 percent lower and Japan's Nikkei 225 gained 1 percent as the yen traded at a six-year low against the dollar. Markets in mainland China, India and Southeast Asia also rose.

In commodity trading, prices for precious and industrial metals fell broadly. Gold dropped $9 to settle at $1,226.90 an ounce, and silver sank 22 cents to $18.52. Copper dropped 5 cents to $3.09.

The price of oil fell on expectations of a quick return of Libyan production and continuing signals of lower global demand. Benchmark U.S. crude fell $1.35 to close at $93.07 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.27 to close at $97.70 in London.

In other energy trading, wholesale gasoline fell 0.8 cent to close at $2.561 a gallon. Heating oil fell 3.3 cents to close at $2.712 a gallon. Natural gas fell 10.3 cents to close at $3.910 per 1,000 cubic feet


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	13.75	points or ▲	0.08%	on	Friday, 19 September 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,279.74	▲	13.75	▲	0.08%		
	Nasdaq____	4,579.79	▼	-13.64	▼	-0.30%		
	S&P_500___	2,010.40	▼	-0.96	▼	-0.05%		
	30_Yr_Bond____	3.30	▼	-0.06	▼	-1.79%		

NYSE Volume	 4,953,182,000 	 	 	 	 	  		 
Nasdaq Volume	 3,152,412,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,837.92	▲	18.63	▲	0.27%		
	DAX_____	9,799.26	▲	1.13	▲	0.01%		
	CAC_40__	4,461.22	▼	-3.48	▼	-0.08%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,437.30	▲	18.30	▲	0.34%		
	Shanghai_Comp	2,329.45	▲	13.52	▲	0.58%		
	Taiwan_Weight	9,240.45	▲	3.42	▲	0.04%		
	Nikkei_225___	16,321.17	▲	253.60	▲	1.58%		
	Hang_Seng.__	24,306.16	▲	137.44	▲	0.57%		
	Strait_Times.__	3,305.05	▲	7.76	▲	0.24%		
	NZX_50_Index_	5,181.35	▲	27.16	▲	0.53%		

http://finance.yahoo.com/news/pound...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*As Wall Street watches Alibaba, stocks drift*
Associated Press
By MATTHEW CRAFT 

NEW YORK (AP) — With Wall Street focused on the debut of Alibaba Group, the stock market drifted into the weekend and major indexes ended little changed.

Investors watched as the Chinese e-commerce giant surged 38 percent Friday, in its first day of trading on the New York Stock Exchange. Alibaba gained $25.89 to end at $93.89.

By the end of the day, the Standard & Poor's 500 index fell less than a point, a sliver of a percent, to 2,010.40. It finished with its best weekly gain in a month.

Alibaba lined up its initial public offering of stock at $68 a share the day before, raising $21.8 billion from investors. That vaulted Alibaba to the top tier of technology companies in terms of market value. It's bigger than Amazon.com but smaller than the titans of tech, Apple and Google.

"We know there's a lot of demand from institutional and retail investors, so it's not a surprise to see it rally that quickly," said JJ Kinahan, chief strategist at TD Ameritrade, the online brokerage.

Alibaba was the big story Friday, but the rest of the week belonged to the Federal Reserve. At the end of a two-day meeting on Wednesday, the Fed issued a statement saying that it planned to keep its benchmark lending rate low. Some investors had earlier voiced concerns that the Fed might be in a bigger hurry to hike rates.

"Janet Yellen (the Fed's chairwoman) told people exactly what they wanted to hear," Kinahan said.

Encouraged, investors sent stocks to record highs this week. The S&P 500 index has now climbed 9 percent in 2014, better than the average gain for a full year.

In other trading Friday, the Dow Jones industrial average edged up 13.75 points, or 0.1 percent, to close at 17,279.74. The Nasdaq composite fell 13.64 points, or 0.3 percent, to 4,579.79.

German business-software company SAP announced plans to buy Concur Technologies for $7.4 billion. Concur's stock jumped $19.02, or 18 percent, to $126.82.

Oracle's stock slumped after the announcement late Thursday that Larry Ellison, the tech company's billionaire founder, is stepping down as CEO after 37 years. Ellison remains the company's biggest shareholder. Oracle's stock fell $1.75, or 4 percent, to $39.80.

The yield on the 10-year Treasury note fell to 2.58 percent, from 2.62 percent late Thursday.

Britain's main index rose slightly after voters in Scotland rejected a referendum to break from the U.K. Some warned that if Scotland left, uncertainty over the future value of the British pound and government debt would have shaken the U.K economy.

Britain's FTSE 100 advanced 0.3 percent. France's CAC 40 slipped 0.1 percent, and Germany's DAX was flat.

Elsewhere, Japan's Nikkei 225 jumped 1.6 percent as the yen's weakness gave a boost to companies that rely on exports.

In commodities trading, precious and industrial metals fell, extending their losses for the week. Gold dropped $10.30 to settle at $1,216.60 an ounce. Silver sank 67 cents to $17.84 an ounce. Copper was unchanged at $3.09 a pound.

Oil fell 66 cents to $92.41 a barrel as the dollar gained strength. Oil trades in dollars, so a stronger dollar makes oil more expensive to traders holding other currencies.

Brent crude, a benchmark for international oils imported by many U.S. refineries, rose 69 cents, to $98.39 a barrel in London.

In other futures trading on the New York Mercantile Exchange:

— Wholesale gasoline rose 5 cents to $2.611 a gallon

— Heating oil was flat at $2.717 a gallon

— Natural gas fell 7.3 cents to $3.837 per 1,000 cubic feet

4309


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-107.06	points or ▼	-0.62%	on	Monday, 22 September 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,172.68	▼	-107.06	▼	-0.62%		
	Nasdaq____	4,527.69	▼	-52.10	▼	-1.14%		
	S&P_500___	1,994.29	▼	-16.11	▼	-0.80%		
	30_Yr_Bond____	3.29	▼	-0.01	▼	-0.30%		

NYSE Volume	 3,344,390,750 	 	 	 	 	  		 
Nasdaq Volume	 1,852,070,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,773.63	▼	-45.66	▼	-0.67%		
	DAX_____	9,749.54	▼	-49.72	▼	-0.51%		
	CAC_40__	4,442.55	▼	-18.67	▼	-0.42%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,368.20	▼	-69.10	▼	-1.27%		
	Shanghai_Comp	2,289.87	▼	-39.59	▼	-1.70%		
	Taiwan_Weight	9,134.65	▼	-105.80	▼	-1.14%		
	Nikkei_225___	16,205.90	▼	-115.27	▼	-0.71%		
	Hang_Seng.__	23,955.49	▼	-350.67	▼	-1.44%		
	Strait_Times.__	3,296.57	▼	-8.48	▼	-0.26%		
	NZX_50_Index_	5,236.29	▲	54.95	▲	1.06%		

http://finance.yahoo.com/news/asian-shares-slip-jitters-over-032411662.html

*US stocks drop as China, oil weigh on markets*
Associated Press
By STEVE ROTHWELL

NEW YORK (AP) ”” Worries about the outlook for growth in China and a slide in the price of oil pushed the stock market to its biggest loss in almost seven weeks Monday.

Investors are nervous about China following a run of soft economic data that suggests growth in the world's second-largest economy is slowing. The worries about China helped push down the price of oil. That in turn weighed on energy stocks.

The stock market has struggled to gain traction this month as investors have weighed signs of an improving economy in the U.S. against evidence of slowing growth in both Europe and Asia.

"We've got China weighing down on stocks," said Kristina Hooper, U.S. investment strategist at Allianz Global Investors. "The lack of transparency there always creates greater uncertainty."

The Standard & Poor's 500 index dropped 16.11 points, or 0.8 percent, to 1,994.29. The loss was the biggest one-day decline for the index since Aug. 5. The index is down 0.5 percent this month.

The Dow Jones industrial average fell 107.06 points, or 0.6 percent, to 17,172.68. The Nasdaq composite dropped 52.10 points, or 1.1 percent, to 4,527.69.

The losses were broad, and all 10 industry sectors that make up the S&P 500 declined. Energy stocks were the second-biggest decliners, slumping 1.4 percent as the price of oil fell. Companies that rely the most on consumer spending, such as entertainment and media conglomerates and retailers, fell the most.

The price of oil dropped on concerns that Libya's production is picking up at a time when global economic indicators point to weaker demand from countries including China. Benchmark U.S. oil fell 89 cents to $91.52 a barrel. Analysts say U.S. oil could test the $90 mark sometime this week.

Smaller companies were also among the biggest decliners as investors shunned the riskier parts of the market.

The Russell 2000, an index which tracks small-company stocks, fell 1.5 percent, more than other indexes. The Russell has dropped 3 percent so far this year, compared with gains of 7.9 percent for the S&P 500 and 3.6 percent for the Dow.

Some analysts say investors should regard any pullback in stock prices as an opportunity to add to their holdings. Recent reports on the manufacturing and the service industries have been strong. Hiring is picking up and inflation remains tame.

"The fundamentals in the U.S. have been coming in strong, beyond expectations," said Doug Cote, chief market strategist at Voya Investment Management. "It's a modest pullback. If anything I would take it as an opportunity to build positions."

On Monday, stocks were also hurt by a report showed that fewer Americans bought homes in August as investors retreated from real estate and first-time buyers remained scarce.

If the trend continues it could dent consumers' confidence, said Allianz's Hooper.

"It really speaks to much of middle-class America. The largest component of their net worth is their home," she said. "It could really put a damper on consumer spending and consumer sentiment."

The National Association of Realtors said sales of existing homes fell 1.8 percent to a seasonally adjusted annual rate of 5.05 million. That followed four months of gains. August sales fell from a July rate of 5.14 million, a figure that was revised slightly downward.

The report weighed on homebuilding stocks. Hovnanian fell 14 cents, or 3.6 percent, to $3.80 and Beazer Homes fell 52 cents, or 2.8 percent, to $18.09.

St. Louis-based chemical firm Sigma-Aldrich was among the day's winners. The company's stock surged $34.03, or 33.2 percent, to $136.40 after agreeing to be acquired by Merck, a German drug company. Merck is paying $140 a share from Sigma-Aldrich, a premium of 37 percent over Friday's closing price.

Apple also bucked the slump, logging a small gain of 10 cents, or 0.1 percent, to $101.06. The technology company said that it has sold more than 10 million iPhone 6 and 6 Plus models, a record for a new model, in the three days after the phones went on sale.

In other energy trading, wholesale gasoline fell 2.7 cents to $2.585 a gallon, heating oil dropped 3 cents to $2.687 a gallon and natural gas rose 1.3 cents to $3.85 per 1,000 cubic feet.

Metals remained weak. Silver continued its recent descent, falling to its lowest level since the summer of 2010.

The price of an ounce of silver fell 7 cents, or 0.4 percent, to $17.77 an ounce. Precious metals, including gold, have been pressured by the recent strength of the dollar, low global inflation and rising stock markets. Gold is trading close to its lowest price since the start of the year. Gold edged up $1.30, or 0.1 percent, to $1,217.90 an ounce. Copper fell five cents, or 1.7 percent, to $3.04 a pound.

U.S. government bond prices rose. The yield on the 10-year government bond, which falls when prices rise, dropped to 2.55 percent from 2.58 percent.

In currency trading, the dollar weakened against both the Japanese yen and the euro.

The Japanese yen has been trading at six-year lows against the dollar in anticipation that the U.S. Federal Reserve will raise interest rates next year while the Bank of Japan will maintain an easy monetary policy. On Monday, the dollar edged down to 108.77 yen. The euro rose a fraction to $1.2849.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-116.81	points or ▼	-0.68%	on	Tuesday, 23 September 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,055.87	▼	-116.81	▼	-0.68%		
	Nasdaq____	4,508.69	▼	-19.00	▼	-0.42%		
	S&P_500___	1,982.77	▼	-11.52	▼	-0.58%		
	30_Yr_Bond____	3.25	▼	-0.04	▼	-1.12%		

NYSE Volume	 3,246,208,750 	 	 	 	 	  		 
Nasdaq Volume	 1,811,223,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,676.08	▼	-97.55	▼	-1.44%		
	DAX_____	9,595.03	▼	-154.51	▼	-1.58%		
	CAC_40__	4,359.35	▼	-83.20	▼	-1.87%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,415.90	▲	47.70	▲	0.89%		
	Shanghai_Comp	2,309.72	▲	19.85	▲	0.87%		
	Taiwan_Weight	9,084.90	▼	-49.75	▼	-0.54%		
	Nikkei_225___	16,205.90	▼	-115.27	▼	-0.71%		
	Hang_Seng.__	23,837.07	▼	-118.42	▼	-0.49%		
	Strait_Times.__	3,298.09	▲	1.52	▲	0.05%		
	NZX_50_Index_	5,241.44	▲	5.15	▲	0.10%		

http://finance.yahoo.com/news/global-stocks-off-china-rebounds-081450896--finance.html

*Europe, Syria drag on global stock markets*
Associated Press
By KEN SWEET

NEW YORK (AP) ”” Grim economic news from Europe and airstrikes in Syria rattled global stocks Tuesday.

Most of the damage was felt in European markets, which fell sharply after a closely watched gauge of business activity for the region fell to a nine-month low.

The disappointing news about Europe's economy also weighed down Wall Street. The Dow Jones industrial average opened lower and finished the day with its second triple-digit loss in a row.

EUROPE

Investors have been dealing with meager economic growth in Europe for months. The eurozone economy has been flat or barely growing since April, hobbled by the lingering effects of a debt crisis, uncertainty over a conflict in Ukraine and a lack of confidence among European consumers, businesses and banks.

"It has a very feeble recovery going on that is vulnerable to even the slightest external shock," said Jacob Kirkegaard, senior fellow at the Peterson Institute for International Economics.

The European Central Bank has announced a series of measures to jolt the economy, cutting interest and pumping money into the financial system by buying bonds backed by assets such as auto and credit-card loans. But it has yet to go as far as the U.S. Federal Reserve did, buying government bonds in an effort to push long-term interest rates lower.

Carl Weinberg, chief economist at High Frequency Economics, is not optimistic: "Recovery will take years."

European market indexes sank after the economic news. Germany's DAX fell 1.6 percent, France's CAC 40 fell 1.9 percent and the U.K.'s FTSE 100 lost 1 percent.

UNITED STATES

In U.S., the Dow slid 116.81 points, or 0.7 percent, to 17,055.87. The S&P 500 index lost 11.52 points, or 0.6 percent, to 1,982.77 and the Nasdaq composite fell 19 points, or 0.4 percent, to 4,508.69.

The Dow's triple-digit fall on Tuesday follows a 107-point stumble from the day before. The blue-chip index hasn't posted two losses of 100 or more points since June.

Still, the outlook in the U.S. is far more positive than Europe. The economy has been gaining strength after getting off to a slow start this year. Growth reached a 4.2 percent annual pace from April through June. Unemployment has dropped to 6.1 percent in August from 7.2 percent a year earlier. Employers have been adding 215,000 jobs a month this year, up from 194,000 a month in 2013. Consumers are more confident and willing to take on debt.

But individual countries' economies cannot stand on their own in today's global economy. If Europe and Asian economies were to lose more traction, it could spill over into the U.S., traders say. Companies in the Standard & Poor's 500 index, for example, generate nearly half their sales abroad.

"When it comes right down to it, U.S. companies do business globally," said Quincy Krosby, a market strategist with Prudential Financial. "Unless global demand can keep up, it's going to start hurting these companies."

Along with the bad economic news, investors had geopolitical concerns to worry about Tuesday.

The U.S. and five Arab nations attacked the Islamic State group's headquarters in eastern Syria in nighttime raids Tuesday. U.S. aircraft as well as Tomahawk cruise missiles launched from Navy ships in the Red Sea and the northern Persian Gulf were used.

"The escalation of the conflict will of course raise questions over the risk appetite of many within the markets," said Joshua Mahoney, research analyst at Alpari.

Investors moved money into U.S Treasury bonds and gold, which are considered havens during times of trouble. The yield on the 10-year U.S. Treasury note fell to 2.53 percent from 2.57 percent. The price of gold rose $4.10, or 0.3 percent, to $1,222 an ounce.

"Bonds and gold are responding to those geopolitical concerns," Krosby said.

In other metals trading, silver edged up half a penny to $17.78 an ounce. Copper fell less than a penny to $3.04 a pound.

U.S. health care stocks were among the hardest hit after the Obama Administration announced rules that would go after companies trying to do so-called corporate inversion deals. Such deals happen when a company merges with an overseas competitor to legally move its headquarters out of the U.S. to avoid paying high corporate tax rates. Health care companies have been among the most active in striking such deals.

Shares fell for Medtronic and AbbVie, which have considered inversion deals. Medtronic lost $1.90, or 3 percent, to $64.08 and AbbVie fell $1.15, or 2 percent, to $57.56. AstraZeneca, which was approached by Pfizer earlier this year to do an inversion deal, fell $3.54, or 5 percent, to $71.13.

The euro was flat at $1.286 while the dollar rose 0.1 percent to 108.86 yen.

In oil markets, U.S. crude oil rose 69 cents to close at $91.56 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 12 cents to close at $96.85 on the ICE Futures exchange in London, reaching its lowest level since June of 2012.

In Asia, the decline in stocks was more modest. Hong Kong's Hang Seng shed 0.3 percent and Seoul's Kospi fell 0.6 percent. The Shanghai Composite Index gained a 0.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	154.19	points or ▲	0.90%	on	Wednesday, 24 September 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,210.06	▲	154.19	▲	0.90%		
	Nasdaq____	4,555.22	▲	46.53	▲	1.03%		
	S&P_500___	1,998.30	▲	15.53	▲	0.78%		
	30_Yr_Bond____	3.28	▲	0.03	▲	0.95%		

NYSE Volume	 3,344,770,000 	 	 	 	 	  		 
Nasdaq Volume	 1,730,745,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,706.27	▲	30.19	▲	0.45%		
	DAX_____	9,661.97	▲	66.94	▲	0.70%		
	CAC_40__	4,413.72	▲	54.37	▲	1.25%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,375.90	▼	-40.00	▼	-0.74%		
	Shanghai_Comp	2,343.57	▲	33.86	▲	1.47%		
	Taiwan_Weight	9,098.49	▲	13.59	▲	0.15%		
	Nikkei_225___	16,167.45	▼	-38.45	▼	-0.24%		
	Hang_Seng.__	23,921.61	▲	84.54	▲	0.35%		
	Strait_Times.__	3,292.81	▼	-5.28	▼	-0.16%		
	NZX_50_Index_	5,258.17	▲	16.73	▲	0.32%		

http://finance.yahoo.com/news/stocks-drift-divergent-economic-fates-084348573.html
*
US stocks advance after 3 days of declines

US stocks move higher after 3 days of declines; Bed Bath & Beyond rises on earnings gain*
Associated Press
By Ken Sweet, AP Business Writer 

NEW YORK (AP) -- U.S. stocks rebounded Wednesday and had their best performance in more than a month, led by gains in health care and consumer staples companies.

Once again, investors were willing to step in to buy any noticeable dip in the market, even as more bad news emerged about Europe's economy and worries over violence in Iraq and Syria continued.

The Dow Jones industrial average advanced 154.19 points, or 0.9 percent, to 17,210.06, its best day since Aug. 18. The Standard & Poor's 500 index rose 15.53 points, or 0.8 percent, to 1,998.30 and the Nasdaq composite rose 46.53 points, or 1 percent, to 4,555.22.

The gains came after three days of losses for the S&P 500 and two straight days of triple-digit losses for the Dow Jones industrial average. With the gains Wednesday, the Dow recovered more than half of what it lost Monday and Tuesday.

The biggest gainer in the S&P 500 was Bed Bath & Beyond, which rose $4.64, or 7.4 percent, to $67.33. The home furnishings company reported a quarterly profit of $1.17 a share, two cents above analysts' expectations. The company also raised its full-year forecast.

Wal-Mart rose $1.48, or 2 percent, to $77.08, making it the second-biggest advancer in the Dow. The retail giant took a big step into the financial services sector, announcing a new checking account program for customers in collaboration with Green Dot. The news sent Green Dot shares soaring $4.59, or 24 percent, to $23.41.

Investors also got a positive report on the U.S. economy. Sales of new homes jumped 18 percent in August, reaching an annual rate of 504,000, according to the Commerce Department, far better than the 430,000 rate economists had expected.

Even with Wednesday's gain, there's a lot of caution in the market, traders say.

Investors continue to focus on Europe's economic malaise and tensions in the Middle East after the U.S. and several Arab nations attacked the Islamic State group's headquarters in Syria.

The Ifo business confidence index in Germany, Europe's largest economy, dropped for a fifth month in September. The decline was larger than expected and confirmed that Europe's economy remains weak. The day before, a closely watched business gauge for the region fell to a nine-month low. The eurozone's economy has been flat or barely growing since April, hobbled by the lingering effects of a debt crisis, uncertainty over a conflict in Ukraine and a lack of confidence among consumers, businesses and banks.

"It's clear now that the Russian sanctions are causing a slowdown in the European economy, particularly manufacturing," said Anastasia Amoroso, a global markets strategist at JPMorgan Funds. "But we see this as a temporary soft patch."

Health care stocks rebounded after taking a beating at the start of the week on news that the U.S. was tightening rules on a tax-saving maneuver called an "inversion." Many of the companies using the tactic, in which a smaller company is acquired overseas so that the U.S. company can move its headquarters there and take advantage of lower tax rates, have been health companies.

AbbVie, which fell nearly 2 percent Tuesday, rose 2.6 percent Wednesday.

Other health care names helping the overall market were the biotechnology stocks such as Biogen, Celgene and Vertex Pharmaceuticals. They all rose 3 percent or more.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.57 percent from 2.53 percent the day before.

In other markets, benchmark U.S. crude oil rose $1.24 to $92.80 a barrel on the New York Mercantile Exchange. Oil rose after the government reported a larger-than-expected decline in oil stocks. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 10 cents to close at $96.95 on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX, wholesale gasoline rose 3.5 cents to close at $2.664 a gallon, heating oil rose 0.6 cent to close at $2.689 a gallon and natural gas rose 9.5 cents to close at $3.911 per 1,000 cubic feet

The euro slid to $1.28 and the dollar rose to 108.94 Japanese yen. The price of gold fell $2.50 to $1,219.50 an ounce. Silver fell eight cents to $17.70 an ounce and copper rose two cents to $3.05 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-264.26	points or ▼	-1.54%	on	Thursday, 25 September 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,945.80	▼	-264.26	▼	-1.54%		
	Nasdaq____	4,466.75	▼	-88.47	▼	-1.94%		
	S&P_500___	1,965.99	▼	-32.31	▼	-1.62%		
	30_Yr_Bond____	3.22	▼	-0.06	▼	-1.92%		

NYSE Volume	 3,300,057,000 	 	 	 	 	  		 
Nasdaq Volume	 1,877,459,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,639.71	▼	-66.56	▼	-0.99%		
	DAX_____	9,510.01	▼	-151.96	▼	-1.57%		
	CAC_40__	4,355.28	▼	-58.44	▼	-1.32%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,382.40	▲	6.50	▲	0.12%		
	Shanghai_Comp	2,345.10	▲	1.53	▲	0.07%		
	Taiwan_Weight	9,011.59	▼	-86.90	▼	-0.96%		
	Nikkei_225___	16,374.14	▲	206.69	▲	1.28%		
	Hang_Seng.__	23,768.13	▼	-153.48	▼	-0.64%		
	Strait_Times.__	3,290.99	▼	-1.82	▼	-0.06%		
	NZX_50_Index_	5,277.86	▲	19.69	▲	0.37%		

http://finance.yahoo.com/news/global-stocks-higher-us-data-boost-sentiment-091541056--finance.html

*Apple bites stock market

Technology stocks swoon, leading to market's worst day since July; Apple sinks on iPhone woes*
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- A stumble by Apple set off the worst rout in the stock market since July on Thursday.

Apple dropped nearly 4 percent following its announcement late Wednesday that it had pulled a software update which prevented users from making phone calls. Other technology stocks also slumped.

The selling started early and picked up strength in the afternoon. By the close of trading, all 30 big companies in the Dow Jones industrial average and the 10 industries in the Standard & Poor's 500 index lost ground.

Most investors said the drop wasn't a sign of worry because the forces behind the market's long rally remain in place. It was only a week ago that the S&P 500 touched a record high, and strong runs are usually followed by short breaks. The index has lost 2 percent this week but is still up 6 percent for the year.

"There's just an absence of real news to chew on," said Mark Luschini, the chief investment strategist at Janney Montgomery Scott. "When you're at a peak, markets need more and more good news to keep climbing."

The S&P 500 index lost 32.31 points, or 1.6 percent, to close at 1,965.99.

The Dow slumped 264.26 points, or 1.5 percent, to close at 16,945.80. The Nasdaq composite, which is dominated by technology companies, dropped 88.47 points, or 1.9 percent, to 4,466.75.

It was the worst day for all three indexes since July 31.

Two economic reports out Thursday were little help. Claims for unemployment benefits crept up last week. But the less volatile four-week average fell. A separate report said businesses orders for equipment plunged last month, mainly a result of falling orders for commercial aircraft.

"The economic numbers were negative, but not alarming and don't change the direction of the economy at this time," said Peter Cardillo, chief market economist at Rockwell Global Financial.

Henry Smith, chief investment officer at Haverford Trust, said there was no fundamental reason behind the drop on Thursday. A sudden turn might seem alarming because it's so unusual.

"We've really had such little volatility for the past couple of years," Smith said. "Now when we have a 200-point drop in the Dow, it feels like something is really wrong."

Trading this week has turned increasingly turbulent, an abrupt break from a sleepy summer. On Monday, concerns about slowing growth in China and falling U.S. home sales knocked the market back, giving the S&P 500 its worst daily drop in more than a month. On Wednesday, the S&P 500 had its best gain in more than a month.

Some investment professionals have been warning that the market has been calm for too long and say a 10 percent drop, known as a "correction," is overdue. Since World War II, they typically hit every 18 months, according to S&P Capital IQ. The last one occurred in August 2011.

"Big pullbacks are normal in a bull market," said Smith. "What's abnormal is that we've gone three years without one."

Bill Strazzullo, chief market strategist at research firm Bell Curve Trading, thinks stocks could fall further as the S&P 500 slips toward 1,950. He said the money that investors poured into stocks when the index crossed above that mark could be pulled out.

"You could get people wanting to liquidate," Strazzullo said. "If you go below 1,950, the market can easily correct 10 percent, maybe more."

Apple, which closed at a record high of $103.30 on Sept. 2, sank $3.88 to $97.87 in heavy trading. It was the second-biggest drop in the S&P 500 index. In addition to the software glitch, some users of the new iPhone complained that the phone could be bent easily.

The dollar has been gaining on other major currencies as traders expect the Federal Reserve to start raising its key interest rate next year. The world's other major central banks are expected to sit tight or take other steps likely to weaken their currencies. On Thursday, the euro fell 0.2 percent to $1.275. The dollar fell to 108.73 yen.

Prices for U.S. government bonds jumped, driving the yield on the 10-year Treasury note down to 2.50 percent from 2.57 percent late Wednesday.

In commodity trading, gold rose $2.40 to $1,221.90 an ounce. Silver slipped 26 cents to $17.44 an ounce and copper lost two cents to $3.03 a pound.

The price of oil fell slightly on ample global supplies despite U.S. airstrikes against oil facilities controlled by the Islamic State group in Syria. Benchmark U.S. crude fell 27 cents to close at $92.53 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 5 cents to close at $97.00 on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX, wholesale gasoline rose 5.4 cents to close at $2.718 a gallon, heating oil rose 0.7 cent to close at $2.696 a gallon and natural gas rose 6 cents to close at $3.971 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	167.35	points or ▲	0.99%	on	Friday, 26 September 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,113.15	▲	167.35	▲	0.99%		
	Nasdaq____	4,512.19	▲	45.45	▲	1.02%		
	S&P_500___	1,982.85	▲	16.86	▲	0.86%		
	30_Yr_Bond____	3.22	▲	0.00	▼	-0.12%		

NYSE Volume	 2,936,573,750 	 	 	 	 	  		 
Nasdaq Volume	 1,602,907,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,649.39	▲	9.68	▲	0.15%		
	DAX_____	9,490.55	▼	-19.46	▼	-0.20%		
	CAC_40__	4,394.75	▲	39.47	▲	0.91%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,316.60	▼	-65.80	▼	-1.22%		
	Shanghai_Comp	2,347.72	▲	2.61	▲	0.11%		
	Taiwan_Weight	8,989.82	▼	-21.77	▼	-0.24%		
	Nikkei_225___	16,229.86	▼	-144.28	▼	-0.88%		
	Hang_Seng.__	23,678.41	▼	-89.72	▼	-0.38%		
	Strait_Times.__	3,292.21	▲	1.22	▲	0.04%		
	NZX_50_Index_	5,253.49	▼	-24.37	▼	-0.46%		

http://finance.yahoo.com/news/asia-falls-europe-drifts-wall-091707099.html

*US stocks end rocky week with a surge; Nike gains*
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) ”” Good economic and corporate news helped the stock market stage a rebound at the end of a turbulent week of trading. Nike jumped after turning in higher profits, leading the Dow Jones industrial average higher.

The Standard & Poor's 500 index, the benchmark for most mutual funds, still lost 1.4 percent for the week. The biggest drop came Thursday, the worst day for the stock market since July 31.

A steep drop one day is often followed by gains the next as investors hunt for beaten-down stocks. "After yesterday, it's only normal to get a little bit back because people tend to buy on the dips," said Jason Pride, director of investment strategy at Glenmede Trust.

The Dow surged 167.35 points, or 1 percent, to close at 17,113.15 on Friday. The S&P 500 index rose 16.86 points, or 0.9 percent, to 1,982.85 and the Nasdaq composite climbed 45.45 points, or 1 percent, to 4,512.19.

The day started with good news. The government reported that the U.S. economy expanded at an annual rate of 4.6 percent in the spring, the fastest pace in more than two years. That was followed by a strong reading of consumer sentiment this month.

Nike jumped 12 percent after reporting that solid sales and lower taxes helped drive its quarterly profit up 23 percent. Both its earnings and revenue beat Wall Street's estimates. Nike's stock gained $9.75 to $89.50, the largest gain among the 30 big companies in the Dow.

It was a roller coaster of a week, with the Dow swinging more than 100 points on all five days. The turbulence broke a long period of calm and light trading.

Some investment strategists expect to see more big swings as investors speculate over the Federal Reserve's next steps. Economists expect the Fed to raise its benchmark short-term interest rate next year, but nobody is sure exactly when. The Fed hasn't raised that rate since June 2006.

"We're getting closer and closer to the Fed's first rate hike," said Russ Koesterich, global chief investment strategist at the money manager BlackRock. "All that liquidity that the Fed created curbed volatility. As that liquidity recedes, volatility rises back to normal. We're just starting to get a taste of what normal is like."

Pride said he expects the market to resume its climb as the economy improves. "I think we'll continue to grind higher because the economic momentum is still there," he said.

Among other companies in the news, Janus's stock soared 43 percent following news that famed bond-fund manager Bill Gross, a founder of bond giant Pimco, is leaving to join the firm. Janus said Gross, who ran the world's largest bond fund, starts work next Monday. Janus jumped $4.78 to $15.89.

An investment fund with a stake in Yahoo sent a letter to Yahoo's CEO urging the company to consider merging with AOL. Jeffrey Smith, who heads Starboard Value, wrote that a deal could save as much as $1 billion and create a more competitive company. Yahoo climbed $1.71, or 4 percent, to $40.66.

The euro continued to slide against the dollar, dipping to $1.268. It has lost more than 3 percent against the dollar this month.

The report on economic growth weighed on U.S. government bond prices, nudging yields up. The yield on the 10-year Treasury note climbed to 2.53 percent from 2.50 percent late Thursday.

In commodity trading, precious and industrial metals made slight moves. The price of gold fell $6.50 to settle at $1,215.40 an ounce. Silver slipped 10 cents to $17.54 an ounce. Copper was unchanged at $3.03 a pound.

The price of oil increased on expectations of rising demand in the U.S., where economic growth appears to be picking up steam. Benchmark U.S. crude rose $1.01 to close at $93.54 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, remained unchanged at $97.00 a barrel on the ICE Futures exchange in London.

In other energy trading on the NYMEX:

”” Wholesale gasoline fell 5.6 cents to close at $2.662 a gallon.

”” Heating oil added 0.5 cent to close at $2.701 a gallon.

”” Natural gas rose 1.3 cents to close at $3.984 per 1,000 cubic feet.

4661


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-41.93	points or ▼	-0.25%	on	Monday, 29 September 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,071.22	▼	-41.93	▼	-0.25%		
	Nasdaq____	4,505.85	▼	-6.34	▼	-0.14%		
	S&P_500___	1,977.80	▼	-5.05	▼	-0.25%		
	30_Yr_Bond____	3.18	▼	-0.04	▼	-1.12%		

NYSE Volume	 3,052,579,000 	 	 	 	 	  		 
Nasdaq Volume	 1,691,929,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,646.60	▼	-2.79	▼	-0.04%		
	DAX_____	9,422.91	▼	-67.64	▼	-0.71%		
	CAC_40__	4,358.07	▼	-36.68	▼	-0.83%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,269.60	▼	-47.00	▼	-0.88%		
	Shanghai_Comp	2,357.71	▲	9.99	▲	0.43%		
	Taiwan_Weight	8,960.76	▼	-29.06	▼	-0.32%		
	Nikkei_225___	16,310.64	▲	80.78	▲	0.50%		
	Hang_Seng.__	23,229.21	▼	-449.20	▼	-1.90%		
	Strait_Times.__	3,289.72	▼	-2.49	▼	-0.08%		
	NZX_50_Index_	5,259.51	▲	6.02	▲	0.11%		

http://finance.yahoo.com/news/global-stocks-mixed-hong-kong-protests-expand-085048052--finance.html
*
US stocks head lower, following drops overseas*
Associated Press
By MATTHEW CRAFT 

NEW YORK (AP) ”” Concerns over high stock prices and global politics continued to plague markets Monday as major stock indexes ended with slight losses in another day of choppy trading. Pro-democracy protests in Hong Kong, a major world financial center, added to the host of political concerns on investors' minds.

It could have been worse. The Dow Jones industrial average sank 178 points in the opening minutes, a sudden drop of 1 percent, but then it climbed back.

"You have a ton of risks that have brought back in the market's focus," said Brad McMillan, chief investment officer for Commonwealth Financial in Waltham, Massachusetts. "There's just a heck of a lot of uncertainty right now."

The Dow lost 41.93 points, or 0.2 percent, to 17,071.22. The Standard & Poor's 500 index lost 5.05 points, or 0.3 percent, to 1,977.80. The Nasdaq composite slipped 6.34 points, or 0.1 percent, to 4,505.85.

DreamWorks Animation, the studio behind "Shrek" and "Madagascar," soared 26 percent following reports that Japan's SoftBank Corp. is in talks to buy the company. DreamWorks gained $5.82 to $28.18.

The market has turned choppy in recent weeks, flipping between solid gains and steep losses. Since hitting a record on Sept. 18, the S&P 500 has slipped 1.7 percent. Coming after a calm summer, the slide has set off a flurry of worried calls to brokerages.

John Canally, chief economic strategist at LPL Financial in Boston, said many investors think the market has gone too long without a major fall. "I can't tell you how many calls we're getting now asking, 'Is this it? Is this the big one?'" he said.

One reason for the recent turbulence is that the stock market appears "priced for perfection," McMillan said. It's an increasingly common saying among investors, and it means the S&P 500 is so high that corporate profits and the economy have to keep improving just to sustain current prices. Good news isn't enough.

"The question is no longer, are we doing well? It's, are we doing even better?" McMillan said. "When you pay for perfection, anything shy of that is a disappointment."

At current prices, investors are paying $16.69 for every dollar in company earnings, according to data from FactSet. That's 10 percent above the long-term average. "There's a certain amount of faith needed at this level," McMillan said.

Traders have pushed the stock market lower despite a string of encouraging economic news. The latest came from the Commerce Department, which reported on Monday that consumer spending rose 0.5 percent in August from the previous month. Auto sales made up about half of the increase. It was further evidence that the economy is on solid footing heading into the end of the year.

"The consumer is back in the driver's seat where they should be, moving the economy ahead at what looks like a strong 3 percent pace," said Chris Rupkey, chief financial economist at the Bank of Tokyo in New York, in a note to clients. "Somebody please tell the stock market. Can't ask more of the economy than that."

Pro-democracy protests in Hong Kong escalated Monday, raising concerns that a crackdown by the Chinese government could make the situation worse. Thousands of people took to the streets over the weekend in a challenge against Beijing's decision to limit political reforms. Police fired tear gas and detained 78 protesters.

The situation in Hong Kong weighed on its main stock index, the Hang Seng, which closed with a loss of 1.9 percent. Japan's Nikkei 225 index rose 0.5 percent, and China's Shanghai Composite added 0.4 percent.

Major markets in Europe sank. France's CAC-40 fell 0.8 percent, while Germany's DAX fell 0.7 percent. The FTSE 100 of leading British companies was flat.

Back in the U.S., NiSource surged 6 percent after saying that it plans to split off its natural-gas pipeline business into a stand-alone company. NiSource expects that new company, Columbia Pipeline Group, to be listed on the New York Stock Exchange by the middle of next year. NiSource climbed $2.26 to $40.84.

Prices for U.S. government bonds rose, sending yields lower. The yield on the 10-year Treasury note fell to 2.48 percent from 2.53 percent late Friday.

In commodities trading, the price of gold edged up $3.40 to settle at $1,218.80 an ounce, silver rose three cents to $17.57 an ounce and copper rose two cents to $3.06 a pound.

The price of oil rose amid signs that U.S. refineries are demanding more crude oil to boost output of gasoline. Benchmark U.S. oil gained $1.03 to $94.57 a barrel. Gasoline futures increased 3.44 cents to $2.696 a gallon.

Brent crude, a benchmark for international oils, rose 20 cents to $97.20 a barrel in London.

In other energy futures trading on NYMEX, heating oil was flat at $2.70 a gallon and natural gas rose 12.5 cents to $4.154 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-28.32	points or ▼	-0.17%	on	Tuesday, 30 September 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,042.90	▼	-28.32	▼	-0.17%		
	Nasdaq____	4,493.39	▼	-12.46	▼	-0.28%		
	S&P_500___	1,972.29	▼	-5.51	▼	-0.28%		
	30_Yr_Bond____	3.21	▲	0.03	▲	1.01%		

NYSE Volume	 3,942,936,250 	 	 	 	 	  		 
Nasdaq Volume	 2,156,783,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,622.72	▼	-23.88	▼	-0.36%		
	DAX_____	9,474.30	▲	51.39	▲	0.55%		
	CAC_40__	4,416.24	▲	58.17	▲	1.33%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,296.80	▲	27.20	▲	0.52%		
	Shanghai_Comp	2,363.87	▲	6.16	▲	0.26%		
	Taiwan_Weight	8,966.92	▲	6.16	▲	0.07%		
	Nikkei_225___	16,173.52	▼	-137.12	▼	-0.84%		
	Hang_Seng.__	22,932.98	▼	-296.23	▼	-1.28%		
	Strait_Times.__	3,276.74	▼	-12.98	▼	-0.39%		
	NZX_50_Index_	5,255.04	▼	-4.47	▼	-0.08%		

http://finance.yahoo.com/news/global-stocks-mostly-higher-us-082056678.html

*Stocks slip, leaving S&P 500 down for September*
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) ”” A suddenly stormy month on the stock market came to a quiet end on Tuesday. Major indexes drifted to a slight loss, leaving the Standard & Poor's 500 down 1.6 percent for September, its third monthly drop this year.

The market spent Tuesday wavering between minor gains and losses, but there were big moves beneath the surface. Crude oil prices plunged, dragging down Chevron and other oil and gas companies. Ford Motor fell after cutting its profit forecast, while eBay jumped after announcing plans to spin off PayPal.

Trading has turned choppy over recent weeks. Lingering concerns over conflicts around the world, corporate profits and the strength of the global economy have all played a role, said Robert Pavlik, chief market strategist at Banyan Partners. Investors are also wary of the fact that some of the market's worst swoons have happened in the months of September and October.

"People are unsure at this time of the year," Pavlik said. "We're heading into October. Like September, it's another typically bad month for the market."

The Dow Jones industrial average fell 28.32 points, or 0.2 percent, to 17,042.90. The S&P 500 slipped 5.51 points, or 0.3 percent, to 1,972.29. The Nasdaq composite lost 12.46 points, also 0.3 percent, to 4,493.39.

Despite its bad reputation, September has actually been mostly good to investors. Before this year, the S&P 500 turned in a September loss just twice over the past decade: during the financial crisis in 2008 and again following a fight over raising the government's borrowing limit in 2011.

This month looked to be different. The S&P 500, the main benchmark for mutual funds, reached a record high on Sept. 18, supported by news of stronger economic growth in the U.S and reassuring words from Federal Reserve officials about keeping interest rates low. Turbulence hit the following week as investors began questioning whether the stock market was overpriced. Some warned that the market had been calm for too long.

"It's like when warm currents and cold currents converge, you get a lot of waves and turbulence," said Jack Ablin, chief investment officer at BMO Private Bank. "We're now at a point where we have sharply different opinions in the market. It's a tug of war."

EBay jumped 8 percent on Tuesday, the biggest gain in the S&P 500, following news that it plans to spin off its PayPal payment service into a publicly traded company next year. Carl Icahn, the billionaire investor, had been pushing eBay to make just such a move. EBay's President and CEO John Donahoe will step down after overseeing the split. Ebay jumped $3.97 to $56.63.

Benchmark U.S. crude plunged $3.41, or 3.6 percent, to settle at $91.16. More evidence of plentiful supplies have pushed prices down. Oil has also been dropping as the value of the U.S. dollar rises against other currencies.

Pro-democracy protests continued in Hong Kong, a major world financial hub. Thousands of peopled blocked streets in the business district and surrounding streets. They want the Chinese government to allow open elections for Hong Kong's top office, whereas Beijing wants candidates to be vetted by a panel dominated by supporters of the mainland government.

Hong Kong's Hang Seng Index tumbled 1.3 percent. Tokyo's Nikkei 225 was down as much as 1.5 percent before ending the day with a loss of 0.8 percent. China's Shanghai Composite Index added 0.3 percent.

In Europe, a new batch of economic reports furthered speculation that the European Central Bank might provide more support for the region's economy. The annual inflation rate dropped to 0.3 percent, the weakest rate since October 2009. The report added pressure on the ECB to start a more aggressive stimulus program through large-scale purchases of bonds.

Major markets in Europe ended mixed. France's CAC-40 rose 1.3 percent, while Germany's DAX gained 0.5 percent. Britain's FTSE 100 slipped 0.4 percent.

Back in the U.S., Ford's stock fell after an executive said late Monday that the car maker will fall short of its earnings targets this year. Bob Shanks, Ford's chief financial officer, said record profits in North America aren't enough to offset trouble in South America, where Ford expects to lose $1 billion this year, and Russia, where falling sales and a steep fall in the ruble took the company by surprise. Ford fell 32 cents, or 2 percent, to $14.79.

In other trading, U.S. government bond prices headed lower. That nudged the yield up on the 10-year Treasury note to 2.50 percent from 2.48 percent late Monday. Bond prices and their yields move in opposite directions.

Gold fell $7.20 to settle at $1,211.60 an ounce, silver fell 51 cents to $17.06 an ounce and copper dropped 5 cents to $3.01 a pound.

In other energy trading, Brent crude, a benchmark for many international oils imported by U.S. refiners, dropped $2.53, or 2.6 percent, to $94.67 a barrel in London.

On the NYMEX, wholesale gasoline dropped 11 cents to $2.587 a gallon, heating oil fell 5.69 cents to $2.647 a gallon and natural gas slid 3.3 cents to $4.121 per 1,000 cubic feet


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-238.19	points or ▼	-1.40%	on	Wednesday, 1 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,804.71	▼	-238.19	▼	-1.40%		
	Nasdaq____	4,422.09	▼	-71.30	▼	-1.59%		
	S&P_500___	1,946.16	▼	-26.13	▼	-1.32%		
	30_Yr_Bond____	3.11	▼	-0.10	▼	-3.08%		

NYSE Volume	 4,194,915,000 	 	 	 	 	  		 
Nasdaq Volume	 2,241,799,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,557.52	▼	-65.20	▼	-0.98%		
	DAX_____	9,382.03	▼	-92.27	▼	-0.97%		
	CAC_40__	4,365.27	▼	-50.97	▼	-1.15%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,334.50	▲	37.70	▲	0.71%		
	Shanghai_Comp	2,363.87	▲	6.16	▲	0.26%		
	Taiwan_Weight	8,990.26	▲	23.34	▲	0.26%		
	Nikkei_225___	16,082.25	▼	-91.27	▼	-0.56%		
	Hang_Seng.__	22,932.98	▼	-296.23	▼	-1.28%		
	Strait_Times.__	3,264.09	▼	-12.65	▼	-0.39%		
	NZX_50_Index_	5,274.58	▲	19.55	▲	0.37%		

http://finance.yahoo.com/news/asian-stocks-mixed-wall-street-064831142.html
*
US stocks drop sharply; Airlines sink*
Associated Press
By KEN SWEET

NEW YORK (AP) ”” It was a rough start to October for financial markets.

Disappointing economic news in the U.S. and abroad drove down stocks on Wednesday. The Dow Jones industrial average slumped 200 points. And nervous investors shifted their money to havens like bonds and gold.

At first U.S. stocks were driven lower by word that German manufacturing had slowed last month. The selling accelerated after a separate survey indicated U.S. manufacturing slowed as well.

"A lot of people thought this economic data was going to be robust, so when it was weak, everyone moved to reposition," said Tom di Galoma, head of rates and credit trading at ED&F Man Capital.

Investors also were skittish following news that the first case of Ebola had been diagnosed in the U.S. They dumped airlines on concerns that travel will decline and bought a handful of drug companies working on experimental treatments for the deadly disease.

The blue chip Dow index lost 238.19 points, or 1.4 percent, to 16,804.71. The Standard & Poor's 500 index lost 26.13 points, or 1.3 percent, to 1,946.16 and the Nasdaq composite lost 71.30 points, or 1.6 percent, to 4,422.09.

The declines follow a weak performance in September, just the third monthly loss for the stock market this year. Geopolitical worries, a weakening European economy and the prospect of higher interest rates have weighed on stocks, even though corporate earnings and the economic outlook remain healthy in the U.S.

The report that set off most of the selling in the U.S. was the Institute for Supply Management's monthly manufacturing survey, one of the more closely watched economic indicators that investors look for each month. The ISM index came in at 56.6, below the 58.5 economists expected.

In Germany, Markit reported that manufacturing contracted in September, the latest sign that Europe is being affected by the economic sanctions on Russia. It was the first slowdown in 15 months.

The report came a day before Naples, Italy hosts the European Central Bank's latest policy meeting. Investors will follow closely what ECB President Mario Draghi says about possible stimulus from the central bank following recent weak economic news in Europe.

In European markets, Germany's DAX finished 1 percent lower, France's CAC 40 lost 1.2 percent and the U.K.'s FTSE 100 ended down 1 percent.

"We're in a global economy these days, and U.S. companies get a lot of their revenue and earnings from outside the U.S.," said Matthew Rubin, director of investment strategy at Neuberger Berman. "Investors have valid concerns that the European slowdown could hit companies' bottom line."

Traders moved quickly into U.S. government bonds. The yield on the 10-year Treasury note dropped to 2.39 percent from 2.49 percent late Tuesday, a big move. Gold prices rose $3.90, or 0.3 percent, to $1,215.50 an ounce.

Utility stocks, which investors favor during times of volatility because of their higher-than-average dividends, were among the few that rose Wednesday. The Dow Jones utility index, a collection of 15 utility companies, increased 0.4 percent.

Investors are looking ahead to Friday, when the U.S. government will release the monthly job figures. Economists are expecting that employers added 215,000 workers last month and no change in the unemployment rate, which stands at 6.1 percent.

Despite October's bad start, analysts believe the next three months should be good for investors.

In recent years, the stock market has risen sharply in the last three months of the year. The S&P 500 rose 10 percent in the fourth quarter of 2013 and 11 percent in the same period in 2011. The index fell in the fourth quarter of 2012, but only by 1 percent.

"The reports were negative today, but most investors believe the U.S. economy is on solid footing and is still on track for a recovery," Rubin said. "I still think it's a good time to be an investor in the market."

The S&P 500 index remains 3 percent below its all-time closing high from September 18.

Airlines were among the hardest hit Wednesday as investors feared people would be discouraged from traveling. American Airlines fell $1.09, or 3 percent, to $34.39 and Delta fell $1.25, or 3.5 percent, to $34.90. Southwest Airlines fell $1.22, or 3.6 percent, to $32.55.

Drugmakers developing potential vaccines or treatments for Ebola rose. Tekmira Pharmaceuticals jumped $4.11, or 17 percent, to $27.85 after the company said it may start clinical trials for an Ebola drug this year. NewLink Genetics, another company looking into Ebola treatments, rose $1.53, or 7 percent, to $22.95.

In commodities, the price of oil fell to its lowest price since April 2013 on concerns that a weakening global economy could lower oil demand. Benchmark U.S. crude fell 43 cents to close at $90.73 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 51 cents to close at $94.16 on the ICE Futures exchange in London.

In other energy futures trading, wholesale gasoline rose 1.2 cents to close at $2.450 a gallon, heating oil rose 0.5 cent to close at $2.656 a gallon and natural gas fell 9.8 cents to close at $4.023 per 1,000 cubic feet.

Silver rose 20 cents to $17.26 an ounce. Copper rose three cents to $3.04 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	208.64	points or ▲	1.24%	on	Friday, 3 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,009.69	▲	208.64	▲	1.24%		
	Nasdaq____	4,475.62	▲	45.43	▲	1.03%		
	S&P_500___	1,967.90	▲	21.73	▲	1.12%		
	30_Yr_Bond____	3.13	▼	-0.02	▼	-0.60%		

NYSE Volume	 3,575,607,250 	 	 	 	 	  		 
Nasdaq Volume	 1,736,413,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,527.91	▲	81.52	▲	1.26%		
	DAX_____	9,195.68	▼	-186.35	▼	-1.99%		
	CAC_40__	4,281.74	▲	39.07	▲	0.92%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,315.40	▲	16.90	▲	0.32%		
	Shanghai_Comp	2,363.87	▲	6.16	▲	0.26%		
	Taiwan_Weight	9,106.28	▲	131.09	▲	1.46%		
	Nikkei_225___	15,708.65	▲	46.66	▲	0.30%		
	Hang_Seng.__	23,064.56	▲	131.58	▲	0.57%		
	Strait_Times.__	3,253.24	▲	24.53	▲	0.76%		
	NZX_50_Index_	5,236.99	▼	-8.24	▼	-0.16%		

http://finance.yahoo.com/news/globa...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Dow jumps 208 on job gains; Gold, bonds fall*
Associated Press
By BERNARD CONDON 

NEW YORK (AP) ”” Investors think the U.S. economy is at a perfect temperature for stocks: not too hot, not too cold.

The latest evidence came Friday in a jobs report that showed a pickup in hiring last month that could mean more people with paychecks, more spending and higher corporate profits. But the report also showed that wages were stagnant, which cheered investors worried anything pushing up inflation could prompt the Federal Reserve to raise interest rates soon and kill the rally.

All major stock indexes rose sharply. The Dow Jones industrial average closed 208 points higher. The rally started from the open and swept up nearly every kind of stock, small and large, and in almost every industry. All 10 sectors in the Standard and Poor's 500 index rose.

"The solid payroll report is great for economic growth and stock prices," said Anastasia Amoroso, global market strategist at J.P. Morgan Funds.

The good news pushed up the value of the dollar against other major currencies to the highest level in more than four years. U.S. bonds and gold fell as investors fled traditional "safe haven" assets.

U.S. employers added 248,000 jobs in September, beating market expectations of a 215,000, the Labor Department reported. The hiring helped drive down the unemployment rate to 5.9 percent, the lowest since July 2008. Hiring in July and August was also stronger than initially estimated.

Still, average hourly wages fell a penny last month, the Labor Department reported. Wages are now up just 2 percent in the past year.

"Wage inflation essentially came in zero, and that tells you that the Fed won't be in any rush to raise interest rates," said James Abate, managing director of Centre Asset Management.

The Dow rose 208.64, or 1.2 percent, to 17,009.69. It was the third 200-point move in a little over a week as markets turn more volatile.

The S&P 500 index climbed 21.73 points, or 1.1 percent, to 1,967.90. The Nasdaq composite rose 45.43 points, or 1 percent, to 4,475.62.

Earlier in the week, investors were rattled by a sharp drop in small-company stocks, pro-democracy protests in Hong Kong, and falling oil prices that hurt energy companies, big components in stock indexes.

Even with the gains on Friday, all three indexes ended more than half a percent lower for the week, adding to losses last week.

Many economists predict the Fed will wait until mid-2015 to start raising rates, then proceed with further hikes slowly. The central bank's low-rate polices have helped keep borrowing rates low for consumers and businesses.

The good news in the U.S. contrasts with troubling signs in other countries. The Chinese economy is slowing, and the 18-country eurozone is teetering on another recession. On Thursday, the European Central Bank disappointed investors by not announcing details of more stimulus measures. All major European indexes ended the week sharply lower.

The prospect of a two-speed global economy drove up the value of the U.S. dollar on Friday. The U.S. Dollar Index, which measures the dollar against six other major currencies, surged 1.3 percent. The euro fell 1.2 percent to $1.2515 while the dollar gained 1.2 percent to 109.76 yen.

Investors will get a better sense of how much the improving economy is helping company profits next week when aluminum maker Alcoa kicks off the unofficial start to corporate earnings season. Financial analysts expect earnings per share for the S&P 500 to rise 6.8 percent from a year earlier, then surge 12 percent the next quarter and for all of next year, according to S&P Capital IQ, a research firm.

The S&P 500 seems reasonably valued, if you believe the earnings forecasts. The index is trading at 15.6 times its expected earnings per share over the next 12 months, according to S&P Capital IQ. That is less than point, that is, slightly cheaper, than the long-term average.

In stocks making big moves:

”” Shares of Mylan jumped 8 percent after the generic drugmaker raised its outlook for the third quarter and year. The stock rose $3.73 to $50.23.

”” Diamond Offshore Drilling lost 5 percent, the most in the S&P 500, as the slumping price of oil this week pushed down several oilfield service companies. Diamond Offshore fell $1.83 to $33.00.

”” Salix Pharmaceuticals rose 1.2 percent. The company gained on news it is scrapping its merger with the subsidiary of an Italian drugmaker after the U.S. created new limits on the tax benefits of incorporating overseas. The stock rose $1.78 to $152.87.

Benchmark U.S. crude fell $1.27 to close at $89.74 a barrel on the New York Mercantile Exchange, its lowest level since April of 2013. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.11 to close at $92.31 on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX, wholesale gasoline fell 3 cents to close at $2.379 a gallon, heating oil fell 2.2 cents to close at $2.616 a gallon and natural gas rose 10.7 cents to close at $4.039 per 1,000 cubic feet.

Gold fell $22.20, or 1.8 percent, to $1,192.90 an ounce. Silver fell 22 cents to $16.83 an ounce and copper was flat at $3 a pound.

The yield on the 10-year Treasury note rose to 2.44 percent from 2.43 percent on Thursday.

4966


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-17.78	points or ▼	-0.10%	on	Monday, 6 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,991.91	▼	-17.78	▼	-0.10%		
	Nasdaq____	4,454.80	▼	-20.82	▼	-0.47%		
	S&P_500___	1,964.82	▼	-3.08	▼	-0.16%		
	30_Yr_Bond____	3.13	▼	-0.01	▼	-0.19%		

NYSE Volume	 3,332,318,250 	 	 	 	 	  		 
Nasdaq Volume	 1,754,901,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,563.65	▲	35.74	▲	0.55%		
	DAX_____	9,209.51	▲	13.83	▲	0.15%		
	CAC_40__	4,286.52	▲	4.78	▲	0.11%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,292.60	▼	-22.80	▼	-0.43%		
	Shanghai_Comp	2,363.87	▲	6.16	▲	0.26%		
	Taiwan_Weight	9,106.28	▲	131.09	▲	1.46%		
	Nikkei_225___	15,890.95	▲	182.30	▲	1.16%		
	Hang_Seng.__	23,315.04	▲	250.48	▲	1.09%		
	Strait_Times.__	3,253.24	▲	24.53	▲	0.76%		
	NZX_50_Index_	5,241.31	▲	4.32	▲	0.08%		

http://finance.yahoo.com/news/asian-stocks-mixed-us-jobs-045437712.html

*US stocks edge lower; H&R Block slides*
Associated Press
By STEVE ROTHWELL

NEW YORK (AP) ”” Some encouraging corporate news failed to give the broader stock market a boost on Monday, and stocks edged lower as investors waited for news on the outlook for the Federal Reserve's interest rate policy.

Hewlett-Packard jumped after announcing that it is splitting itself in two. One company will focus on personal computers and printing and the other on technology services. Medical-equipment maker Carefusion surged on word that it was being acquired by its rival Becton Dickinson and Co.

But after opening higher, stocks gave up their early gains and alternated between small gains and small losses.

The market's bull run has faltered in recent weeks and the Standard & Poor's 500 index logged its biggest monthly drop since January last month. Stocks rebounded from that slump on Friday after a report showed a pickup in hiring last month, but many investors remain uncertain about the outlook for stocks as the Fed nears the end of its bond-buying stimulus program and considers raising rates.

"The tug of war between the bulls and the bears is ongoing now," said Quincy Krosby, a market strategist at Prudential Financial.

The S&P 500 fell 3.08 points, or 0.2 percent, to 1,964.82. The Dow Jones industrial average dropped 17.78 points, or 0.1 percent, to 16,991.91. The Nasdaq composite fell 20.82 points, or 0.5 percent, to 4,454.80.

Hewlett-Packard gained after announcing that it is splitting itself in two. One company will focus on personal computers and printing and the other on technology services such as data storage, servers and software. The stock climbed $1.67, or 4.7 percent, to $36.87.

Carefusion jumped $10.58, or 22.9 percent, to $56.75 on news that it was being acquired by a rival. New Jersey medical equipment maker Becton Dickinson and Co. said it will pay $12.2 billion for the company, in a combination focused on medication systems for hospitals and pharmacies. Becton climbed $9.14, or 7.9 percent, to $124.98.

The Fed is due to release minutes on Wednesday of its policy meeting last month and the central bank will end its bond purchases this month. Now investors are watching for clues about the likely timing of any interest rate hike.

Investors should remember that if the Fed is raising rates, it will be because the economy is strengthening, said Karyn Cavanaugh, a senior market strategist at Voya.

"If the potential rise in interest rates is predicated on stronger growth....and if the market recognizes that earnings are good, and the economy is good then (higher rates) it shouldn't be much of an event," said Cavanaugh.

H&R Block logged the biggest drop in the S&P 500 after saying that its latest attempt to sell its banking business is getting delayed in the regulatory approval process. The tax preparer said it would not be able to complete the deal before the next tax season. Its stock dropped $1.75, or 5.5 percent, to $29.91.

Nasdaq-listed GT Advanced Technologies, a supplier to Apple, was also among the day's biggest losers. The company, which is developing sapphire materials to replace glass on some Apple's products, lost almost all of its market value after saying that it was filing for bankruptcy. The stock plunged $10.25, or 93 percent, to 80 cents.

In emerging markets, Brazil's stock market surged after the left-leaning President Dilma Rousseff was forced into a runoff race against Aecio Neves, a center-right challenger, who only surged in the final week of the campaign. Rousseff is promising to expand Brazil's social programs and continue strong state involvement in the economy, while Neves says he will pursue more centrist economic approaches, such as central bank independence, more privatizations and the pursuit of trade deals with Europe and the United States.

Brazil's benchmark Ibovespa index rose 4.7 percent to 57,115.

The dollar fell to 108.96 yen and the euro inched up to $1.2624. U.S. government bond prices rose. The yield on the 10-year Treasury note, which moves in the opposite direction to its price, fell to 2.42 percent.

In energy trading, oil rose as the value of the dollar dropped. Meanwhile, natural gas fell sharply on forecasts for warmer weather.

U.S. benchmark oil rose 60 cents to $90.34 a barrel. Brent crude, a benchmark for many international oils imported by U.S. refiners, gained 48 cents to $92.79 a barrel in London. Oil is priced in dollars, so a decline in the dollar makes oil cheaper for buyers holding other currencies.

Natural gas dropped 14 cents to $3.90 per 1,000 cubic feet amid forecasts of mild temperatures along parts of the East Coast. Wholesale gasoline rose 3.47 cents to $2.413 a gallon and heating oil rose 0.5 cent to $2.621 a gallon

In metals trading, the price of gold rose $14.40, or 1.2 percent, to $1,207.30 an ounce. Silver also gained, climbing 40 cents, or 2.4 percent, to 17.23 an ounce. Copper gained 3.7 cents, or 1.2 percent, to $3.04 per pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-272.52	points or ▼	-1.60%	on	Tuesday, 7 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,719.39	▼	-272.52	▼	-1.60%		
	Nasdaq____	4,385.20	▼	-69.60	▼	-1.56%		
	S&P_500___	1,935.10	▼	-29.72	▼	-1.51%		
	30_Yr_Bond____	3.06	▼	-0.07	▼	-2.30%		

NYSE Volume	 3,653,415,250 	 	 	 	 	  		 
Nasdaq Volume	 1,995,498,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,495.58	▼	-68.07	▼	-1.04%		
	DAX_____	9,086.21	▼	-123.30	▼	-1.34%		
	CAC_40__	4,209.14	▼	-77.38	▼	-1.81%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,284.80	▼	-7.80	▼	-0.15%		
	Shanghai_Comp	2,363.87	▲	6.16	▲	0.26%		
	Taiwan_Weight	9,040.81	▼	-54.33	▼	-0.60%		
	Nikkei_225___	15,783.83	▼	-107.12	▼	-0.67%		
	Hang_Seng.__	23,422.52	▲	107.48	▲	0.46%		
	Strait_Times.__	3,243.99	▼	-9.25	▼	-0.28%		
	NZX_50_Index_	5,235.71	▼	-5.61	▼	-0.11%		

http://finance.yahoo.com/news/global-stocks-lower-wall-street-decline-081443304--finance.html

*US stocks slide on global growth concerns

US stocks slide on evidence of a global slowdown; General Motors drops on earnings worries*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The prospects of weakening global growth weighed on the stock market Tuesday.

U.S. growth may be strengthening, but the outlook elsewhere is far less encouraging. On Tuesday the International Monetary Fund trimmed its forecast for global economic growth. A surprisingly weak report on industrial production in Germany, Europe's biggest economy, added to the concerns.

Industrial companies, whose fortunes are closely tied those of the global economy, led the sell-off. Government bonds rallied as investors snapped up safe assets, pushing the yield on the benchmark 10-year Treasury note close to its lowest level of the year.

After a weak September, the slump in stocks is showing no signs of abating in October. The Standard & Poor's index has now dropped almost 4 percent since closing at a record Sept. 18.

"Investors have become a bit more cautious about earnings and about the pace of global growth," said Kate Warne, a principal at Edward Jones, an investment firm. "That reassessment is leading to a bit more caution on stocks."

The Standard & Poor's 500 index fell 29.72 points, or 1.5 percent, to 1,935.10. The index closed at a record 2,011.36 on Sept. 18.

The Dow Jones industrial average dropped 272.52 points, or 1.6 percent, to 16,719.39. The Nasdaq composite fell 69.60 points, or 1.6 percent, to 4,385.20.

General Motors was among the biggest decliners in the S&P 500 after analysts at Morgan Stanley cut their price target for the stock. The analysts predict that the automaker's earnings will suffer as it invests heavily in production. GM's stock dropped $1.98, or 5.9 percent, to $31.77.

SodaStream was another big loser. The company said it isn't winning over enough new customers in the U.S. and reported preliminary sales results that fell short of Wall Street's expectations. The stock tumbled $6.05, or 21.9 percent, to $21.52.

Stocks started the day lower after a report showed that German industrial output fell 4 percent in August, far more than expected. The slump follows other disappointing economic reports and suggests Europe's economy will not recover as strongly as hoped in the third quarter.

The prospect of slowing growth in other parts of the world weighing on corporate profits was behind the sell-off Tuesday, said Jack Ablin, chief investment officer at BMO Private Bank. Companies will soon start reporting earnings for the third quarter and investors will be watching out for their forecasts for the rest of the year.

"Investors are starting to get worried that Europe is going to dent growth," Ablin said. "It's an open invitation for managements to lower their guidance."

The IMF trimmed its outlook for global economic growth this year and next, mostly because of weaker expansions in Japan, Latin America and Europe. The IMF said Tuesday that the global economy will grow 3.3 percent this year, slightly below what it forecast in July.

Many analysts say, though, that the investors have no need to panic and should focus on the signs that the U.S. economy is strengthening.

"Investors should remain comfortable at these levels and not be panicked by the recent volatility," said Sean Lynch, a managing director of global equity research and strategy for Wells Fargo Private Bank.

The indications of slower growth in Europe and elsewhere outside of the U.S. also weighed on oil prices.

Benchmark U.S. crude fell $1.49 to close at $88.85 a barrel on the New York Mercantile Exchange, its lowest level since April of 2013. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 68 cents to close at $92.11 on the ICE Futures exchange in London.

Sliding oil prices are also hitting energy stocks, and the sector extended its losses on Tuesday. Energy companies in the S&P 500 have dropped 9.4 percent in the past month.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.34 percent from 2.42 percent on Monday. That's close to its lowest level of the year.

In metals trading, gold rose $5.10, or 0.4 percent, to $1,212.40 an ounce. Silver edged up 2 cents, or 0.1 percent, to $17.24 an ounce. Copper was little changed at $3.04 per pound.

On Wednesday, the U.S. Federal Reserve is due to release notes on its latest meeting on Wednesday. Investors will be looking for signs of when the Fed might raise interest rates. The first rate increase is not expected until mid-2015.

Among other stocks making big moves on Tuesday:

”” Keurig Green Mountain jumped after analysts at Goldman Sachs initiated their coverage of the stock with a "buy" rating, predicting that the company's sales and earnings growth are poised to accelerate. Keurig's stock jumped $6.50, or 4.9 percent, to $139.75.

”” AGCO, an agricultural equipment maker, cut its third-quarter and full-year earnings forecasts, sayings its results are expected to be hurt by weaker sales in all regions, lower production and the impact of shifting exchange rates. The company will report its earnings on Oct. 28. AGCO's stock dropped $4.97, or 10.6 percent, $42.13.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	274.83	points or ▲	1.64%	on	Wednesday, 8 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,994.22	▲	274.83	▲	1.64%		
	Nasdaq____	4,468.59	▲	83.39	▲	1.90%		
	S&P_500___	1,968.89	▲	33.79	▲	1.75%		
	30_Yr_Bond____	3.06	▲	0.01	▲	0.20%		

NYSE Volume	 4,416,694,000 	 	 	 	 	  		 
Nasdaq Volume	 2,308,511,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,482.24	▼	-13.34	▼	-0.21%		
	DAX_____	8,995.33	▼	-90.88	▼	-1.00%		
	CAC_40__	4,168.12	▼	-41.02	▼	-0.97%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,241.60	▼	-43.20	▼	-0.82%		
	Shanghai_Comp	2,382.79	▲	18.92	▲	0.80%		
	Taiwan_Weight	8,955.18	▼	-85.63	▼	-0.95%		
	Nikkei_225___	15,595.98	▼	-187.85	▼	-1.19%		
	Hang_Seng.__	23,263.33	▼	-159.19	▼	-0.68%		
	Strait_Times.__	3,228.61	▼	-15.38	▼	-0.47%		
	NZX_50_Index_	5,245.90	▲	10.19	▲	0.19%		

http://finance.yahoo.com/news/global-growth-worries-send-asian-081612000.html

*US stocks have their best day of 2014

US stocks surge to biggest gain of the year as Fed signals no rush to raise interest rates*
Associated Press
By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Wall Street had its best day of the year.

The U.S. stock market surged on Wednesday, erasing a steep loss from the day before. Investors were reacting to minutes from the Federal Reserve's latest policy meeting, which showed that the central bank wants to keep interest rates extremely low for the time being.

"There's a lot of pressure on the Fed right now, so this was a big vote of confidence from investors," said J.J. Kinahan, chief strategist at TD Ameritrade.

The Dow Jones jumped 274.83 points, or 1.6 percent, to 16,994.22. The Standard & Poor's 500 index added 33.79 points, or 1.8 percent, to 1,968.89 and the Nasdaq composite rose 83.39 points, or 1.9 percent, to 4,468.59. All three indexes had their biggest point and percentage gains of 2014.

The jump was the latest whipsaw day for the stock market. Only the day before, the Dow plunged 273 points on fears that the global economy was slowing. Wednesday's gains only made up for what investors lost on Tuesday.

Volatility has picked up sharply in U.S. stocks in recent days. Dow has had moves of 200 points or more five times in the last 10 days. There have only been 10 other days this year when the index has made moves of that magnitude.

Market watchers have been warning for some time now that the market was due to have more volatility, particularly with economic weakness developing in Europe and Asia and with the Federal Reserve on track to end a bond-buying stimulus program later this month. Analysts say investors should expect more big moves in coming weeks.

"I don't think this is going to end until the Fed's meeting in October," said James Liu, a global market strategist at JPMorgan Funds. "The market is in a tug-of-war between the slowdown in international economies and the strong economic numbers here in the U.S."

The stock market moved between gains and losses for most of the day, then surge in the last two hours of trading after the Fed released its minutes at 2:00 p.m. Eastern time.

Investors were encouraged by the language in the minutes of the Fed's latest meeting, which signaled the central bank would only raise interest rates when measures of the economy's health and inflation signaled the time was right, instead of using a specific date or period.

Investors like low interest rates since they keep the cost of borrowing inexpensive for businesses and individuals, encouraging spending and investment. The Fed also sees inflation remaining low for the next few years, another positive for most investors.

The U.S. economy has been a bright spot in an otherwise darkening picture for the global economy. The IMF cut its outlook for this year and next for global growth, citing weakness in Japan, Latin America and Europe. The IMF expects the global economy will grow 3.3 percent this year, slightly below what it forecast in July. Europe, in particular, has been weak. Germany said Tuesday that its industrial output fell 4 percent in August, far more than expected.

In contrast, reports like September jobs survey show the U.S. economy continuing to expand. Investors have become concerned that Europe's weakness will eventually drag on the U.S. too.

"I think the U.S. economy could be protected from Europe for a quarter or two, but will start hurting us here eventually," Kinahan said.

Investors now turn their attention to U.S. companies, who will start reporting their quarterly results en masse in the coming weeks.

Alcoa, the aluminum giant, reported its results after Wednesday's closing bell, which came in much better than expectations. The Pittsburgh, Pa.-based company reported an adjusted third quarter profit of 31 cents a share, much more than the 21 cents analysts were looking for. Alcoa rose 32 cents, or 2 percent, to $16.39 in after-market trading.

In other company news, Sears Holdings, the parent company of Sears and K-mart, dropped $1.45, or 5 percent, to $28.85 following news reports that the company's vendors have started to halt shipments to the retailer. Sears has struggled for several months and has been selling off assets to raise cash to pay for its expenses.

Gap plunged $3.57, or 8.5 percent, to $38.40 in after-market trading after the company announce its CEO Glenn Murphy was stepping down early next year.

In other markets, the price of oil fell to its lowest level in 18 months on lower global demand and high supplies. Benchmark U.S. crude fell $1.54 to close at $87.31 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 73 cents to close at $91.38 on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX, wholesale gasoline fell 5 cents to close at $2.318 a gallon, heating oil fell 3.1 cents to close at $2.576 a gallon and natural gas fell 10.2 cents to close at $3.855 per 1,000 cubic feet.

In metals trading, the price of gold fell $6.40 to $1,206 an ounce. Silver fell 18 cents to $17.06 an ounce and copper fell four cents to $3 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-334.97	points or ▼	-1.97%	on	Thursday, 9 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,659.25	▼	-334.97	▼	-1.97%		
	Nasdaq____	4,378.34	▼	-90.26	▼	-2.02%		
	S&P_500___	1,928.21	▼	-40.68	▼	-2.07%		
	30_Yr_Bond____	3.06	▲	0.00	▲	0.00%		

NYSE Volume	 4,285,427,000 	 	 	 	 	  		 
Nasdaq Volume	 2,105,474,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,431.85	▼	-50.39	▼	-0.78%		
	DAX_____	9,005.02	▲	9.69	▲	0.11%		
	CAC_40__	4,141.45	▼	-26.67	▼	-0.64%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,293.30	▲	51.70	▲	0.99%		
	Shanghai_Comp	2,389.37	▲	6.58	▲	0.28%		
	Taiwan_Weight	8,966.44	▲	11.26	▲	0.13%		
	Nikkei_225___	15,478.93	▼	-117.05	▼	-0.75%		
	Hang_Seng.__	23,534.53	▲	271.20	▲	1.17%		
	Strait_Times.__	3,259.25	▲	32.54	▲	1.01%		
	NZX_50_Index_	5,266.04	▲	20.14	▲	0.38%		

http://finance.yahoo.com/news/global-stocks-rebound-us-gains-091637565.html

*Dow plunges 334, its worst day of 2014

Stocks drop, with Dow having its worst day of 2014, as global economic fears rattle investors*
Associated Press
By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Just one day after the market had its best day of 2014, it had its worst day of 2014.

The Dow Jones industrial average plunged 334 points on Thursday as a decline in energy stocks and worries about the global economy sent investors fleeing out of the market. It was the biggest point drop since June 2013.

It was also the third straight day investors have been taken on a wild roller coaster ride. On Tuesday the Dow fell 272 points, only to jump 275 points on Wednesday. While 100-plus moves in the Dow have become more common as stocks have risen to record highs, 200-plus point moves had been rare until this week. More than half of this year's 200-point moves have happened in the last two weeks.

The VIX, a measure of volatility that is sometimes called Wall Street's "fear index," jumped 26 percent to its highest level since February.

"The violent gyrations are causing havoc for fund managers and active investors (who were) hoping for a smooth fourth quarter," said Todd Schoenberger of J. Streicher Asset Management.

After more than three years of the stock market moving quietly, steadily higher, volatility is back and in a big way, market observers say. The stock market hasn't seen day-to-day movements like this since August 2011, when Standard & Poor's downgraded the United States' credit rating. The S&P downgrade subsequently pushed the U.S. stock market into its last "correction," a technical term for when stocks fall 10 percent or more from a recent peak.

Stocks fell at the opening of trading Thursday, and the selling accelerated once European markets closed at midday Eastern time.

By the end of the day, the Dow had lost 334.97 points, or 2 percent, to 16,659.25. The Standard & Poor's 500 index lost 40.68 points, or 2.1 percent, to 1,928.21 and the Nasdaq composite fell 90.26 points, or 2 percent, to 4,378.34.

Few companies were spared from the selling Thursday. All 30 members of the blue chip Dow index fell and 482 of the 500 companies in the S&P 500 index ended the day lower.

Worries about the global economy, particularly in Europe and Asia, were once again center stage.

A large part of Thursday's selling happened in energy stocks, particularly oil and coal companies.

The price of oil fell sharply again Thursday, continuing its multi-week decline, on concerns that global oil production remains high despite signs that global demand is slowing. A report showed Germany exports sank 5.8 percent in August, the biggest monthly drop in five years. The figure raises concerns that Europe's largest economy may fall into recession. Earlier in the week, the IMF cut its outlook for this year and next for the global economy, citing weakness in Japan, Latin America and particularly Europe.

"Europe is struggling. Asia is struggling. Japan is struggling. The United States is the best house on the block at the moment," said Jurrien Timmer, director of global macro at Fidelity Investments.

Benchmark U.S. crude fell $1.54 to $85.77 a barrel on the New York Mercantile Exchange, a third straight decline of more than 1.5 percent. Oil is now 20 percent below its 2014 peak of $107.26 a barrel, reached in late June, technically pushing oil into a bear market.

Brent crude, an international benchmark used to price oil used by many U.S. refineries, fell $1.33 to $90.05 a barrel in London, at one point slipping below $90 for the first time since June 2012.

Sinking crude price mean lower future profits for oil and gas companies, and investors responded accordingly. The energy sector of the S&P 500 fell nearly 4 percent, far more than the rest of the market. Exxon Mobil and Chevron, the nation's two largest oil and gas companies, each fell roughly 3 percent.

Coal stocks also took a beating after Morgan Stanley analysts downgraded the entire industry. Walter Energy slumped 11 percent and Peabody Energy fell 9 percent.

Traders say the market's volatility may ease once corporate earnings season gets fully underway. Aluminum company Alcoa reported its results Wednesday, which beat analysts' expectations, but the bulk of S&P 500 companies will not report for another week or so.

"Everyone seems to be waiting for earnings season at this point," said Neil Massa, senior equity trader at John Hancock Asset Management.

Average investors who might be worried about the market's recent volatility should remain calm, Fidelity's Timmer said. The stock market has gone up for three straight years and the S&P 500 index is still up 4.3 percent this year.

"Just stick to your long-term (retirement) plan," Timmer said. "You don't want to sell at the bottom and buy at the top."

In other company news, Gap dropped $5.23, or 13 percent, to $36.67. The clothing chain's CEO Glenn Murphy announced he would step down in February. The news came as a surprise to investors, since Murphy is only 52 and was expected to continue in his role for several more years. Murphy was credited for helping Gap navigate through the Great Recession and restoring the company's appeal to younger customers.

Advanced Micro Devices, better known as AMD, fell 33 cents, or 10 percent, to $2.95. The chipmaker also announced a change in leadership, saying CEO and president Rory Read was stepping down. AMD has long struggled to keep its market share of the PC chip market against its main competitor Intel.

The dollar fell to 107.92 yen and the euro fell to $1.2687. U.S. government bond prices were little changed. The yield on the 10-year Treasury note held at 2.33 percent.

Wholesale gasoline futures fell 4.35 cents to $2.275 a gallon. The average price at the pump across the U.S. is $3.25, down 18 cents from a month ago. In other trading of energy futures on the New York Mercantile Exchange, heating oil fell 3.9 cents to $2.537 a gallon and natural gas slipped 1 cent to $3.845 per 1,000 cubic feet.

With this week's volatility, investors moved into gold. The price of gold rose $19.30 to $1,225.30 an ounce. Silver rose 35 cents to $17.42 an ounce and copper rose three cents to $3.03 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-115.15	points or ▼	-0.69%	on	Friday, 10 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,544.10	▼	-115.15	▼	-0.69%		
	Nasdaq____	4,276.24	▼	-102.10	▼	-2.33%		
	S&P_500___	1,906.13	▼	-22.08	▼	-1.15%		
	30_Yr_Bond____	3.04	▼	-0.03	▼	-0.88%		

NYSE Volume	 4,537,913,500 	 	 	 	 	  		 
Nasdaq Volume	 2,660,850,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,339.97	▼	-91.88	▼	-1.43%		
	DAX_____	8,788.81	▼	-216.21	▼	-2.40%		
	CAC_40__	4,073.71	▼	-67.74	▼	-1.64%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,185.70	▼	-107.60	▼	-2.03%		
	Shanghai_Comp	2,374.54	▼	-14.83	▼	-0.62%		
	Taiwan_Weight	8,966.44	▲	11.26	▲	0.13%		
	Nikkei_225___	15,300.55	▼	-178.38	▼	-1.15%		
	Hang_Seng.__	23,088.54	▼	-445.99	▼	-1.90%		
	Strait_Times.__	3,223.87	▼	-35.38	▼	-1.09%		
	NZX_50_Index_	5,225.14	▼	-40.90	▼	-0.78%		

http://finance.yahoo.com/news/global-stocks-sink-wall-street-090146445.html

*US stocks close out worst week since May 2012*
Associated Press
By ALEX VEIGA 

Investors avoided another roller coaster day on Wall Street Friday.

What they got instead was a steady, moderate decline that left the market with its worst weekly performance since May 2012.

Technology shares were especially hard hit. Semiconductor makers slumped after Microchip Technology cut its sales forecast for the quarter and warned investors to expect bad news from others in the sector.

That sent shares lower for Avago Technologies, Intel and Texas Instruments, among others. Microchip Technology declined the most, shedding $5.59, or 12.3 percent, to $39.96.

The decline capped a week of turbulence in the market brought on by renewed fears that economic growth in Europe could be slowing.

The Dow Jones industrial average recorded its biggest gain of the year on Wednesday. The next day, it plunged 334 points, its steepest decline this year.

"A lot of investors are trying to come to grips with the pickup in volatility we've suddenly seen during this week," said David Kelly, chief global strategist for JPMorgan Funds.

The slide in semiconductor stocks dragged down the tech-heavy Nasdaq composite index, keeping it in the red all day.

The other indexes flirted with small gains throughout the day, but the course didn't hold. They ended lower for the fourth time in five days.

All told, the Dow Jones industrial average lost 115.15, or 0.7 percent, to 16,544.10. The Standard & Poor's 500 index shed 22.08, or 1.2 percent, to 1,906.13.

The Nasdaq slid 102.10 points, or 2.3 percent, to 4,276.24.

All three indexes ended lower for the week. For the S&P 500, this was the worst weekly decline since May 18, 2012, when it fell 4.3 percent.

Negative economic news and a slide in oil prices contributed to the uneasiness on Wall Street this week, market watchers said.

Germany, which has been the economic powerhouse for Europe, reported on Thursday its biggest monthly drop in exports in five years. Meanwhile, the International Monetary Fund downgraded its outlook for global economic growth.

In addition, some traders are interpreting the decline in oil prices as further indication that growth is slowing.

"You put those three factors together and it has investors nervous at the health of the world economy," said Jeff Kravetz, regional investment director at U.S. Bank Wealth Management.

The volatility in the market this week also came at a time of relatively light corporate news in the U.S. That changes next week, when major companies begin to report their latest quarterly results.

"Third-quarter earnings season should be pretty reassuring, and I wouldn't be surprised to see money go back into various stocks as companies surprise to the upside, which is what I expect them to do," said Kelly.

Investors did not appear to be overly optimistic on Friday.

Eight of the 10 sectors in the S&P 500 fell, led by technology stocks. Utilities and consumer staples bucked the trend.

Shares in electric car maker Tesla slumped after investors looked over the company's late-Thursday announcement of a new all-wheel drive car. The stock lost $20.10, or 7.8 percent, to $236.91.

Despite the overall slide, some stocks posted strong gains.

L-3 Communications Holdings led the risers in the S&P 500, adding $7.04, or 6.5 percent, to $115.15.

Exact Sciences surged 35.8 percent after the company said its new colon cancer test will be covered by Medicare. Shares in the medical diagnostic test maker added $6.48 to $24.60.

The yield on the 10-year Treasury note slipped to 2.29 percent from 2.31 percent late Thursday.

The price of oil steadied but remained down 4 percent for the week on plentiful global supplies and weak demand. U.S. crude rose 5 cents to close at $85.82 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 16 cents to close at $90.21 a barrel on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX, wholesale gasoline fell 1.7 cents to close at $2.258 a gallon, heating oil rose 2.3 cents to close at $2.560 a gallon and natural gas rose 1.4 cents to close at $3.859 per 1,000 cubic feet

In metals trading, the price of gold fell $3.60 to $1,221.70 an ounce, silver fell 12 cents to $17.30 an ounce and copper was flat at $3.03 a pound.

5399


----------



## Wysiwyg

Another late session plummet. :bad:


----------



## bigdog

Wysiwyg said:


> Another late session plummet. :bad:




*"The late wave of selling was likely triggered by automated trading programs that started selling stocks when it became clear that the S&P 500 would close below an important technical level, said Randy Frederick, managing director of trading and derivatives at Schwab Center for Financial Research".*

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-223.03	points or ▼	-1.35%	on	Monday, 13 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,321.07	▼	-223.03	▼	-1.35%		
	Nasdaq____	4,213.66	▼	-62.58	▼	-1.46%		
	S&P_500___	1,874.74	▼	-31.39	▼	-1.65%		
	30_Yr_Bond____	3.01	▼	-0.02	▼	-0.69%		

NYSE Volume	 4,347,526,500 	 	 	 	 	  		 
Nasdaq Volume	 2,363,489,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,366.24	▲	26.27	▲	0.41%		
	DAX_____	8,812.43	▲	23.62	▲	0.27%		
	CAC_40__	4,078.70	▲	4.99	▲	0.12%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,153.10	▼	-32.60	▼	-0.63%		
	Shanghai_Comp	2,366.01	▼	-8.53	▼	-0.36%		
	Taiwan_Weight	8,711.39	▼	-255.05	▼	-2.84%		
	Nikkei_225___	15,300.55	▼	-178.38	▼	-1.15%		
	Hang_Seng.__	23,143.38	▲	54.84	▲	0.24%		
	Strait_Times.__	3,202.15	▼	-21.72	▼	-0.67%		
	NZX_50_Index_	5,170.05	▼	-55.09	▼	-1.05%		

http://finance.yahoo.com/news/world-stocks-lower-slowdown-concerns-linger-083839385--finance.html

*US indexes slide; Airlines, energy stocks drop

US indexes slide, led by declines in airlines and energy stocks, as investors turn jittery*
Associated Press
By Alex Veiga, AP Business Writer

The stock market couldn't shake off a case of the jitters from last week and closed sharply lower again on Monday.

Airlines, energy and materials stocks were among the biggest decliners. The market is coming off its biggest weekly decline in more than two years.

Many investors remain concerned that economic growth in Europe and Asia could be slowing. A meeting of Eurozone finance ministers in Luxembourg didn't appear to ease those concerns.

A measure of volatility soared, indicating investors are getting increasingly nervous.

"There is a sense that ... the U.S. maybe can't go it alone, that if global growth continues to weaken, the U.S. is not going to be able to sustained the kind of momentum we've been gaining since the first quarter," said Quincy Krosby, market strategist at Prudential Financial. "That's the worry."

A late slide in the last half-hour of trading came after an otherwise calm day in the markets. Index futures had pointed to a higher open in premarket trading early Monday, then the market opened lower and wavered for much of the day between small gains and losses.

The late wave of selling was likely triggered by automated trading programs that started selling stocks when it became clear that the S&P 500 would close below an important technical level, said Randy Frederick, managing director of trading and derivatives at Schwab Center for Financial Research.

Many traders follow these levels to give them an indication about the near-term direction of the market.

In this case, the S&P 500 closed below 1,905, the 200-day moving average price for the index. The index had traded above the average since November, 2012, gaining 36 percent.

"We've broken down to a point where we haven't been for a long, long time," Frederick said.

Frederick still thinks the stock market will avoid a "correction." That's Wall Street talk for a drop of 10 percent or more, something that hasn't happened since October 2011. Frederick is expecting the recent volatility to continue for a few more weeks yet.

All told, the Dow Jones industrial average lost 223.03, or 1.4 percent, to 16,321.07. The Standard & Poor's 500 index shed 31.39, or 1.7 percent, to 1,874.74.

The Nasdaq slid 62.58 points, or 1.5 percent, to 4,213.66.

The VIX, a measure of volatility that is commonly called Wall Street's "fear index," climbed 12.7 percent to 23.95, its highest level since June 2012.

All of the 10 sectors in the S&P 500 fell, led by energy with a decline of 2.9 percent. Utilities, a safe-play sector, fell the least, just 0.1 percent.

The downturn leaves the S&P 500 up just 1.4 percent for the year and down 6.8 percent from its recent peak of 2,011.36 reached on Sept. 18.

The Dow went negative for the year on Friday and is now down 1.5 percent for 2014 and 5.5 percent below its September peak. Small-company stocks have fared much worse than the rest of the market as investors shun investments seen as more speculative. The Russell 2000 index has fallen 13.2 percent since July.

Airline stocks had some of the biggest declines on Monday. That sector has received a drubbing from investors recently as worries mount that the outbreak of the Ebola virus will curb travel spending. Concerns about a slowing global economy have also hurt the stocks.

American Airlines Group fell $2.20, or 7.1 percent, to $28.58 and Delta Air Lines fell $2.01, or 6.1 percent, to $30.90. American has fallen 24 percent in the last month, Delta 22.2 percent.

Investors found reasons to cheer some stocks.

CSX led the gainers in the S&P 500 as investors reacted to a published report that another railroad operator has approached the company about a possible merger. The stock climbed $1.76, or 5.9 percent, to $31.70.

Atlas Energy vaulted 14.9 percent on news of its acquisition by Targa Resources Partner. Atlas Energy added $4.84 to $37.25.

Investors were looking ahead to earnings news from a number of big companies later this week including General Electric, Intel and Bank of America.

Despite the recent volatility in the markets, the overall earnings outlook is good.

Third-quarter earnings growth for companies in the S&P 500 is expected to be about 6.8 percent compared with the same period a year ago, according to S&P Capital IQ.

If earnings live up to or exceed analysts' forecasts, that could help reassure investors, said Karyn Cavanaugh, senior market strategist at Voya Investment Management.

"These companies haven't changed from two months ago, when we were talking about all-time (market) highs, to today," Cavanaugh said. "These are still good companies, with good value and good earnings potential."

The price of U.S. oil slipped slightly and the global oil price fell sharply on expectations that OPEC countries will not cut output in response to lower global demand.

Benchmark U.S. crude fell 8 cents to close at $85.74 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.32 to close at $88.89 on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX, wholesale gasoline fell 0.3 cent to close at $2.255 a gallon, heating oil fell 0.3 cent to close at $2.557 a gallon and natural gas rose 5.7 cents to close at $3.916 per 1,000 cubic feet

Gold rose $8.30 to $1,230 an ounce, silver rose four cents to $17.35 an ounce and copper was flat at $3.04 a pound.

Bond trading was closed for Columbus Day.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-5.88	points or ▼	-0.04%	on	Tuesday, 14 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,315.19	▼	-5.88	▼	-0.04%		
	Nasdaq____	4,227.17	▲	13.52	▲	0.32%		
	S&P_500___	1,877.70	▲	2.96	▲	0.16%		
	30_Yr_Bond____	2.96	▼	-0.06	▼	-1.89%		

NYSE Volume	 4,775,167,500 	 	 	 	 	  		 
Nasdaq Volume	 2,380,966,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,392.68	▼	-102.90	▼	-1.58%		
	DAX_____	8,825.21	▲	36.40	▲	0.41%		
	CAC_40__	4,088.25	▲	14.54	▲	0.36%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,204.00	▲	50.90	▲	0.99%		
	Shanghai_Comp	2,359.47	▼	-6.53	▼	-0.28%		
	Taiwan_Weight	8,768.39	▲	57.00	▲	0.65%		
	Nikkei_225___	14,936.51	▼	-364.04	▼	-2.38%		
	Hang_Seng.__	23,047.97	▼	-95.41	▼	-0.41%		
	Strait_Times.__	3,194.40	▼	-7.75	▼	-0.24%		
	NZX_50_Index_	5,145.89	▼	-24.16	▼	-0.47%		

http://finance.yahoo.com/news/asian-shares-boosted-strong-china-050634750.html

*US stocks stabilize after a three-day sell-off*
Associated Press
By ALEX VEIGA

A slump in energy stocks stymied a rebound in U.S. indexes Tuesday as the price of oil plunged the most in two years.

The decline in oil prices followed forecasts for weaker global demand this year and next, a sign of slowing economic growth. Chevron fell 2 percent, helping to drag down the Dow Jones industrial average in the waning moments of trading.

Even so, corporate earnings provided some encouragement to investors, helping to close the gap on losses after a three-day slump.

Domino's Pizza, Citigroup and Johnson & Johnson reported results that were better than analysts were expecting. The market also got a boost from airline stocks, which rebounded after sliding the day before.

The modest rally provided a breather for investors. The Standard & Poor's 500 index has fallen 6.7 percent since hitting a record high on Sept. 18. Investors are worried that economies in Europe and Asia might be slowing.

"The bank earnings this morning certainly made people feel a little bit better," said Joe Peta, managing director at Novus Partners. "For the time being, at least, the panic selling is over."

The major stock indexes remained in positive territory until the last hour of trading, when they began to fade, threatening to deliver the second last-minute slide in two days.

By the end of the day, the Dow Jones industrial average had lost 5.88 points, or 0.04 percent, to 16,315.19. The S&P 500 index added 2.96 points, or 0.2 percent, to 1,877.70.

The Nasdaq rose 13.52 points, or 0.3 percent, to 4,227.17.

Six of the 10 sectors in the S&P 500 rose, led by industrials, which gained 1.3 percent. Energy fell the most, 1.2 percent.

The Dow went negative for the year on Friday. It's now down 1.6 percent for 2014 and 5.6 percent below its September peak. The S&P 500 index is up 1.6 percent for the year.

Six of the 10 sectors in the S&P 500 rose, with industrial stocks posting the biggest gain at 1.3 percent. Energy stocks fell the most, sliding 1.2 percent.

Several major banks kicked off the third-quarter corporate earnings season.

JPMorgan Chase returned to a profit, but missed Wall Street's expectations. The stock fell 17 cents, or 0.3 percent, to $57.99. Wells Fargo's earnings matched analysts' expectations, while Citigroup's results came in better than expected. Wells Fargo fell $1.37, or 2.7 percent, to $48.83. Citigroup rose $1.57, or 3.1 percent, to $51.47.

Domino's Pizza jumped 11.3 percent on better-than-expected earnings and revenue. The pizza delivery chain operator's stock rose $8.58 to $84.30.

Several airline stocks surged a day after the sector got pummeled amid mounting worries that the Ebola virus outbreak could curb travel spending. Delta jumped $1.89, or 6.1 percent, to $32.79, while Southwest climbed $1.12, or 3.9 percent, to $30. American Airlines Group gained $2.93, or 10.3 percent, to $31.51.

Johnson & Johnson raised its 2014 earnings outlook, partly due to revenue gains from its new blockbuster hepatitis C drug. But shares in the world's biggest health care products maker slipped 2.1 percent as investors worried about looming competition for the drug. The stock shed $2.11 to $97.01.

"The earnings are sufficiently good to justify a higher close on today's market, however the market is a forward looking mechanism and what I think the market is concerned about is a gravitational pull downward due to slower global growth, particularly from Europe," said Jim Russell, senior US equities strategist at USBank.

The price of oil suffered its biggest drop in nearly two years after the International Energy Agency reduced its forecast for demand for this year and 2015.

Benchmark U.S. crude fell $3.90 to close at $81.84 a barrel on the New York Mercantile Exchange. That was the biggest drop since November of 2012, and it's the lowest closing price since June of 2012.

Brent crude, a benchmark for international oils used by many U.S. refineries, fell $3.85 to close at $85.04 on the ICE Futures exchange in London. Brent is at its lowest level since November of 2010.

In metals trading, gold rose $4.30 to $1,234.30 an ounce, silver rose six cents to $17.40 an ounce and copper rose five cents to $3.09 a pound.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.20 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-173.45	points or ▼	-1.06%	on	Wednesday, 15 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,141.74	▼	-173.45	▼	-1.06%		
	Nasdaq____	4,215.32	▼	-11.85	▼	-0.28%		
	S&P_500___	1,862.49	▼	-15.21	▼	-0.81%		
	30_Yr_Bond____	2.88	▼	-0.08	▼	-2.74%		

NYSE Volume	 6,072,575,500 	 	 	 	 	  		 
Nasdaq Volume	 2,903,773,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,211.64	▼	-181.04	▼	-2.83%		
	DAX_____	8,571.95	▼	-253.26	▼	-2.87%		
	CAC_40__	3,939.72	▼	-148.53	▼	-3.63%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,238.00	▲	34.00	▲	0.65%		
	Shanghai_Comp	2,373.67	▲	14.19	▲	0.60%		
	Taiwan_Weight	8,655.51	▼	-112.88	▼	-1.29%		
	Nikkei_225___	15,073.52	▲	137.01	▲	0.92%		
	Hang_Seng.__	23,140.05	▲	92.08	▲	0.40%		
	Strait_Times.__	3,198.72	▲	4.32	▲	0.14%		
	NZX_50_Index_	5,162.87	▲	16.98	▲	0.33%		

http://abcnews.go.com/Business/wireStory/asia-stocks-rise-oil-slump-promises-benefits-26204412

*A Nauseating Day for Wall Street as Stocks Plunge*
NEW YORK ”” Oct 15, 2014, 5:33 PM ET
By KEN SWEET and ALEX VEIGA AP Business Writers

 Fear drove Wall Street to one of its most dramatic, nauseating days in years on Wednesday.

Investors fled stocks and poured into bonds as worries about a global economic slowdown intensified. The Dow Jones industrial average dropped 460 points in afternoon trading, all three U.S. stock indexes were in negative territory for the year, and the so-called fear index spiked.

A late recovery limited the damage and left stocks mostly lower. But investors were shaken after the heaviest day of trading in more than three years.

"I think it's fair to call it a global growth scare right now," said Bill Stone, chief investment strategist at PNC Asset Management.

Investor concerns of a worldwide economic slowdown turned into outright fear after weeks of turbulence. Germany, Europe's biggest economy is struggling. Greece, a key actor in Europe' debt crisis three years ago, could see its government collapse next year, putting a crucial bailout program in danger. A batch of worrisome economic news in the U.S. also fueled the selling.

Traders sold riskier investments and moved money into U.S. government bonds, gold and cash.

By the end of the day, the Dow Jones industrial average lost 173.45 points, or 1 percent, to 16,141.74. The Standard & Poor's 500 index lost 15.21 points, or 0.8 percent, to 1,862.49 and the Nasdaq composite dropped 11.85 points, or 0.3 percent, to 4,215.32

The yield on the benchmark U.S. 10-year note fell from 2.20 percent to below 1.91 percent. By the end of the day, it pulled back to a yield of 2.14 percent. The yield on bonds moves in the opposite direction of prices.

"It typically takes weeks for 10-year Treasurys to move 29 basis points," noted Tom Di Galoma, head of fixed income rates in New York at ED&F Man Capital. "Today it moved 29 basis points in 5 minutes."

Stone said he thought the plunge in bond yields likely played a role in the stock market's steep drop in early trading.

"I don't care who you are: to see the 10-year near 2 percent is shocking," he said.

Investors have grown nervous of a stock market that had pushed ever higher, even in the face of a weakening global economy. The U.S. market has also not had a correction, a technical term for when a stock or index falls 10 percent or more, in more than 3 years. Historically a correction happens every 18 months.

Wednesday's slide brings the market closer to that long-predicted but elusive correction.

Michael Binger, senior portfolio manager at Gradient Investments, said that investors may have started to step back into the market in the last hour of trading as the S&P 500 approached a drop of close to 10 percent from its record close of Sept. 18.

"The market has been waiting for this 5 to 10 percent correction for quite some time, and we got it," he said.

Many market watchers say occasional corrections are a healthy phenomenon over the long term and give investors an opportunity to add to their holdings at a lower cost.

"That's why it' so important to stay invested at a time like this, rather than think it's a time to get out," said Kate Warne, an investment strategist at Edward Jones.

It's not the U.S. economy that investors are worried about, at least not yet. It's everyone else. Last week markets sold off sharply after the International Monetary Fund cut its economic forecast for the global economy, noting the weakness in Europe and in Asia.


----------



## Knobby22

I think some in the market are scared of what might happen with regard to the ebola virus after the latest bad news.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-24.5	points or ▼	-0.15%	on	Thursday, 16 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,117.24	▼	-24.50	▼	-0.15%		
	Nasdaq____	4,217.39	▲	2.07	▲	0.05%		
	S&P_500___	1,862.76	▲	0.27	▲	0.01%		
	30_Yr_Bond____	2.94	▲	0.06	▲	2.09%		

NYSE Volume	 5,044,967,500 	 	 	 	 	  		 
Nasdaq Volume	 2,434,457,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,195.91	▼	-15.73	▼	-0.25%		
	DAX_____	8,582.90	▲	10.95	▲	0.13%		
	CAC_40__	3,918.62	▼	-21.10	▼	-0.54%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,244.30	▲	6.30	▲	0.12%		
	Shanghai_Comp	2,356.50	▼	-17.17	▼	-0.72%		
	Taiwan_Weight	8,633.69	▼	-21.82	▼	-0.25%		
	Nikkei_225___	14,738.38	▼	-335.14	▼	-2.22%		
	Hang_Seng.__	22,900.94	▼	-239.11	▼	-1.03%		
	Strait_Times.__	3,154.21	▼	-44.51	▼	-1.39%		
	NZX_50_Index_	5,132.02	▼	-30.85	▼	-0.60%		

http://finance.yahoo.com/news/asia-stocks-sag-us-fears-europe-stabilizes-080429350--finance.html


*After an early slide, US stocks end mostly higher*
Associated Press
By ALEX VEIGA 

After several days surfing Wall Street's gut-wrenching swells and troughs, investors got a smoother ride on Thursday.
Related Stories

Well, mostly.

The stock market took an early plunge but recovered nearly all of the ground it lost as the day went on. By the closing bell most indexes were showing modest gains.

Despite the relatively calm day, many market pros say investors haven't seen the last of the market's big moves.

Traders are still fretting that global growth will slow and that Europe could slip into another recession, hurting corporate profits. Then there are the many geopolitical uncertainties, from conflicts in Syria and Iraq and uncertainty over the impact of the outbreak of the Ebola virus.

"The sailing has been much too smooth, so going forward, at the very least, (we're) back to normal turbulence," said Erik Davidson, deputy chief investment officer of Wells Fargo Private Bank.

On Thursday, investors drew some encouragement from new data on the labor market and the latest batch of corporate earnings. Energy stocks surged as oil prices bounced back, notching only their fourth daily gain in a month.

"We had some positive economic data that reminded everybody that the economy is doing quite well," said Randy Frederick, a managing director of trading and derivatives with the Schwab Center for Financial Research.

Another sign of easing anxiety: The yield on the 10-year Treasury note rose after plunging a day earlier.

The Dow Jones industrial average sank as much as 206 points in the first hour of trading, turned higher an hour later, then wavered in a small range the rest of the day. The moves echoed Wednesday's trading, when the Dow plunged as much as 460 points, then recovered much of that loss to close down 173.

On Thursday the Dow closed down 24.50 points, or 0.2 percent, to 16,177.24.

The Standard & Poor's 500 index added 0.27 points, or 0.01 percent, to 1,862.76. The Nasdaq composite gained 2.07 points, or 0.1 percent, to 4,217.39.

The S&P 500 is up 0.8 percent for the year, while the Nasdaq is up 1 percent. Both had been down for 2014 a day earlier. The Dow remains down 2.8 percent for the year.

Small-company stocks also rebounded. The Russell 2000 index added 13.36, or 1.3 percent, to 1,085.81. The index is still down 6.7 percent for the year.

Investors cheered earnings from Delta Air Lines, which reported results early Thursday that beat analysts' forecasts. The stock, which has been pummeled this week amid worries about the impact that worries about the Ebola virus might have on bookings, rose 94 cents, or 2.9 percent, to $33.32.

Philip Morris International gained after reporting quarterly results that exceeded analysts' forecasts. Philip Morris' shares rose $1.68, or 2 percent, to $85.26.

Netflix plunged 19 percent after the company's subscriber growth fell short of its own forecasts following a rate increase. The stock slid $86.89 to $361.70.

Half of the 10 sectors in the S&P 500 rose, led by a 1.7 percent rise in energy stocks as the price of crude oil turned higher after a recent slump. Chesapeake Energy led the risers in the S&P 500, climbing $3.02, or 17 percent, to $20.79.

Remarks from St. Louis Fed President James Bullard also helped perk up stocks. In an interview with Bloomberg TV, Bullard said that the Federal Reserve should consider putting off winding down its monthly bond purchases this month as planned.

Bullard is not a voting member of the central bank's policymaking committee, but as the head of a branch of the Fed investors still followed his remarks closely. The Fed's monthly bond purchases are currently $15 billion. The Fed's Sept. 17 policy statement said the purchases would end at the October meeting if the central bank's expectations for improvements in the labor market and inflation continued to be met.

Investors also assessed a mixed bag of U.S. economic data.

A key highlight: U.S. unemployment aid applications fell last week to the lowest level in 14 years, another sign that the job market is strengthening.

U.S. Treasury yields stabilized. The yield on the 10-year Treasury note rose to 2.15 percent from 2.14 percent late Wednesday.

The price of oil rebounded somewhat despite an Energy Department report showing a sharp increase in U.S. stockpiles. Benchmark U.S. crude rose 92 cents to close at $82.70 a barrel on the New York Mercantile Exchange.

Crude remains 4 percent lower for the week, however, on high global supplies and weak demand. It's also sharply below its June peak of $107.26 a barrel.

Brent crude, a benchmark for international oils used by many U.S. refineries, rose 69 cents to close at $84.47 on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX, wholesale gasoline rose 6.2 cents to close at $2.211 a gallon, heating oil rose 1.1 cents to close at $2.470 a gallon and natural gas fell 0.4 cent to close at $3.796 per 1,000 cubic feet.

Metals futures closed slightly lower. Gold fell $3.60 to $1,241.20 an ounce, silver fell three cents to $17.44 an ounce and copper fell three cents to $2.98 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	263.17	points or ▲	1.63%	on	Friday, 17 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,380.41	▲	263.17	▲	1.63%		
	Nasdaq____	4,258.44	▲	41.05	▲	0.97%		
	S&P_500___	1,886.76	▲	24.00	▲	1.29%		
	30_Yr_Bond____	2.97	▲	0.03	▲	1.09%		

NYSE Volume	 4,444,146,500 	 	 	 	 	  		 
Nasdaq Volume	 2,167,057,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,310.29	▲	114.38	▲	1.85%		
	DAX_____	8,850.27	▲	267.37	▲	3.12%		
	CAC_40__	4,033.18	▲	114.56	▲	2.92%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,260.10	▲	15.80	▲	0.30%		
	Shanghai_Comp	2,341.18	▼	-15.32	▼	-0.65%		
	Taiwan_Weight	8,512.88	▼	-120.81	▼	-1.40%		
	Nikkei_225___	14,532.51	▼	-205.87	▼	-1.40%		
	Hang_Seng.__	23,023.21	▲	122.27	▲	0.53%		
	Strait_Times.__	3,167.73	▲	13.52	▲	0.43%		
	NZX_50_Index_	5,146.94	▲	14.92	▲	0.29%		

http://finance.yahoo.com/news/asia-stocks-footing-global-gyrations-052848511.html

*Stocks rise sharply, ending market's dramatic week*
Associated Press
By KEN SWEET

NEW YORK (AP) — The stock market had another turbulent session Friday, capping off one of the more eventful weeks on Wall Street in years. The Dow Jones industrial average soared more than 250 points following strong earnings from Morgan Stanley, General Electric and Textron as well as some encouraging U.S. economic reports.

It was the latest big move for a market which, with a few exceptions, has been on a mostly downward track. Stocks have had four weeks of declines, leaving the Standard & Poor's 500 index 6 percent below the record high it set Sept. 18.

Investors have been riding wild market swings for much of the week. The Dow Jones industrial average plunged as much as 460 points Wednesday, then had one of its best days of the year on Friday.

"We had indiscriminate selling all week, and then today we had indiscriminate buying," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago.

Market watchers have warned investors to expect more volatility than they have been used to in recent months, reflecting the heightened concerns about weaker growth in Europe and what it could mean for U.S. corporate profits, as well as plunging oil prices.

The turmoil has not been limited to the floor of the New York Stock Exchange. Bonds, overseas stock markets and commodities prices have all had big moves this week.

"Most of the swings this week were related to fears about global growth and not about the fundamentals of this market," said James Liu, global market strategist at JPMorgan Funds.

The VIX, a measure of how much volatility investors expect in stocks, has risen from 12 in mid-September to as high as 31 this week, above its historical average of around 20. That's still far below the readings of 80 it had at the height of the 2008 financial crisis.

"This volatility, in a way, is purely psychological. This is the market returning to a more normalized behavior," Liu said.

The Dow Jones industrial average advanced 263.17 points, or 1.6 percent, to 16,380.41 Friday. The Standard & Poor's 500 index rose 24 points, or 1.3 percent, to 1,886.76 and the Nasdaq composite rose 41.05 points, or 1 percent, to 4,258.44.

On Friday, investors rallied behind a group of corporate earnings results.

General Electric rose 2.4 percent after the company reported third-quarter earnings that beat analysts' forecasts, citing improved performance in its aviation and oil and gas divisions. GE has a broad range of businesses that cover so many parts of the economy, from banking to building nuclear reactors, that investors see its results as a bellwether for how U.S. industry is doing. GE rose 57 cents to $24.82.

Textron, another industrial conglomerate, had the second-biggest gain in the S&P 500 index after its own earnings came in far ahead of what analysts were expecting. Textron rose $2.99, or 9 percent, to $36.65.

Overall, the S&P 500's industrial sector rose nearly 2 percent, making it the best performing part of the market.

Next week will be one of the busiest periods for Wall Street this earnings season. A total of 130 companies in the S&P 500 index will report quarterly results next week, including big names like American Express, Cola-Cola, AT&T and IBM.

Investors also had two pieces of positive economic data to work through.

A survey by the University of Michigan showed consumer sentiment unexpectedly rose last month to 86.4, much higher than the 84.3 expected by economists. It was the highest reading for that survey since July 2007, right before the Great Recession.

The Commerce Department reported that construction firms broke ground on more apartment complexes in September, up 6.3 percent to a seasonally adjusted annual rate of 1.017 million homes.

Homebuilders rose on the news. Hovnanian Enterprises gained 21 cents, or 6 percent, to $3.71 and Beazer Homes rose 72 cents, or 4 percent, to $17.71.

On Friday oil prices rose slightly, but were still down 4 percent for the week on prospects of lower demand from a slowing global economy and high supplies.

Benchmark U.S. crude rose 5 cents to close at $82.75 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 34 cents to close at $86.16 on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX, wholesale gasoline rose 2.2 cents to close at $2.233 a gallon, heating oil rose 2.8 cents to close at $2.498 a gallon and natural gas fell 3 cents to close at $3.766 per 1,000 cubic feet

The price of gold fell $2.20 to $1,239 an ounce, silver fell 11 cents to $17.33 an ounce and copper rose two cents to $3 a pound.

5782


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	19.26	points or ▲	0.12%	on	Monday, 20 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,399.67	▲	19.26	▲	0.12%		
	Nasdaq____	4,316.07	▲	57.64	▲	1.35%		
	S&P_500___	1,904.01	▲	17.25	▲	0.91%		
	30_Yr_Bond____	2.96	▼	-0.01	▼	-0.30%		

NYSE Volume	 3,308,984,000 	 	 	 	 	  		 
Nasdaq Volume	 1,644,738,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,267.07	▼	-43.22	▼	-0.68%		
	DAX_____	8,717.76	▼	-132.51	▼	-1.50%		
	CAC_40__	3,991.24	▼	-41.94	▼	-1.04%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,307.30	▲	47.20	▲	0.90%		
	Shanghai_Comp	2,356.73	▲	15.54	▲	0.66%		
	Taiwan_Weight	8,663.14	▲	150.26	▲	1.77%		
	Nikkei_225___	15,111.23	▲	578.72	▲	3.98%		
	Hang_Seng.__	23,070.26	▲	47.05	▲	0.20%		
	Strait_Times.__	3,181.05	▲	13.32	▲	0.42%		
	NZX_50_Index_	5,197.89	▲	50.94	▲	0.99%		

http://finance.yahoo.com/news/japan-leads-asia-stocks-higher-034812309.html

*US stocks quietly move higher; IBM disappoints

US stocks advance in quiet trading session; IBM's results miss the mark, shares plunge*
Associated Press
By Ken Sweet, AP Business Writer

NEW YORK (AP) -- The U.S. stock market moved quietly higher Monday as investors decided to step back into a market that was rattled by white-knuckle turbulence last week.

It was a rare move upward for a market that, for the most part, has been moving lower for the past month.

The Standard & Poor's 500 index rose 17.26 points, or 0.9 percent, to 1,904.02 and the Nasdaq composite gained 57.64 points, or 1.4 percent, to 4,316.07.

The Dow Jones industrial average did not fare as well, and wound up essentially flat for the day. The 30-stock index rose 19.26 points, or 0.1 percent, to 16,399.67. The main reason the Dow did not perform as well as the other two indexes was IBM.

IBM fell $12.95, or 7 percent, to $169.10 after the company reported earnings that missed Wall Street's expectations. The company also missed on revenue and warned that it may not meet its profit goals for the foreseeable future. IBM was the biggest decliner in both the Dow and in the S&P 500.

The Dow is what's known as a price-weighted stock index, which means more expensive stocks like IBM tend to have an out-sized impact on its movements. Without the effect of IBM's decline, the blue chip index would have been up 102 points.

The quiet trading on Wall Street on Monday came after a wild ride last week, when the Dow moved between triple-digit losses and triple-digit gains. Investors remain concerned that economic weakness in Europe could spread to the U.S. Many investors remain bullish on the U.S. stock market over the long term, especially considering how well the U.S. economy has been doing.

"I think we are having a modest correction and I don't think this is a new bear market," said Scott Clemons, chief investment strategist for private banking at Brown Brothers Harriman.

The calm can be seen in the decline in the VIX, Wall Street's so-called "fear index." The VIX fell 15 percent to 18.7, closer to its recent average of 15. It went as high as 30 last week, but before this market volatility started, the VIX had been trading near record lows.

Many market watchers expected more volatile trading in the days and weeks to come. The S&P 500 is down just 5.3 percent from its mid-September high, even with the concerns about Europe and Asia. Also the market has had four straight weeks of declines.

"When a market gets as fully-priced as this one, it doesn't take much for things to go wrong," said Wayne Wilbanks, chief investment officer of Wilbanks, Smith & Thomas Asset Management. "This market is just shifting back to more normal market behavior after being in a low-volatility period for much longer than it should have."

This is one of the busiest weeks for company earnings. A total of 130 companies in the S&P 500 index will report their quarterly results, including big names like American Express, Cola-Cola and AT&T.

One big name to report after Monday's closing bell was Apple. The consumer electronics giant reported a profit of $1.42 a share, beating the $1.30 share expected by analysts. Sales also topped forecasts. Apple's stock rose $1.14, or 1 percent, to $100.95 in after-market trading.

U.S. government bond prices were mostly unchanged Monday. The yield on the 10-year Treasury note held steady at 2.19 percent.

One symptom of the concerns over the global economy has been the sharp fall in oil prices in recent weeks. The price of oil fell slightly Monday, remaining near its lowest level since June of 2012. Benchmark U.S. crude fell 4 cents to close at $82.71 a barrel on the New York Mercantile Exchange.

Brent crude, a benchmark for international oils used by many U.S. refineries, fell 76 cents to close at $85.40 on the ICE Futures exchange in London. Wholesale gasoline fell 3.3 cents to close at $2.200 a gallon.

Gold rose $5.70 to $1,244.70 an ounce. Silver rose two cents to $17.35 an ounce and copper fell two cents to $2.99 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	215.14	points or ▲	1.31%	on	Tuesday, 21 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,614.81	▲	215.14	▲	1.31%		
	Nasdaq____	4,419.48	▲	103.40	▲	2.40%		
	S&P_500___	1,941.28	▲	37.27	▲	1.96%		
	30_Yr_Bond____	2.98	▲	0.02	▲	0.84%		

NYSE Volume	 3,954,109,000 	 	 	 	 	  		 
Nasdaq Volume	 1,925,690,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,372.33	▲	105.26	▲	1.68%		
	DAX_____	8,886.96	▲	169.20	▲	1.94%		
	CAC_40__	4,081.24	▲	90.00	▲	2.25%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,312.50	▲	5.20	▲	0.10%		
	Shanghai_Comp	2,339.66	▼	-17.07	▼	-0.72%		
	Taiwan_Weight	8,654.64	▼	-8.50	▼	-0.10%		
	Nikkei_225___	14,804.28	▼	-306.95	▼	-2.03%		
	Hang_Seng.__	23,088.58	▲	18.32	▲	0.08%		
	Strait_Times.__	3,202.74	▲	21.69	▲	0.68%		
	NZX_50_Index_	5,233.12	▲	35.24	▲	0.68%		

http://finance.yahoo.com/news/asian-stocks-drift-china-growth-054346725.html

*Stocks rally; S&P 500 has best day of 2014*
Associated Press
By KEN SWEET 

NEW YORK (AP) ”” The U.S. stock market marched higher Tuesday, giving the Standard & Poor's 500 index its best day of the year.

Investors rallied behind an encouraging report on the Chinese economy as well as strong quarterly results from Apple and other big companies.

The market continues on its recovery from last week's swoon and has now erased much of its losses over the last two weeks.

"I think it's too early to call to call this a new rally, but I think there are definite signs that investors are gaining confidence again after last week's volatility," said Kristina Hooper, head of U.S. investment strategies at Allianz Global Investors.

The Standard & Poor's 500 index added 37.27 points, or 2 percent, to 1,941.28. The Dow Jones industrial average rose 215.14 points, or 1.3 percent, to 16,614.81. The Nasdaq composite rose 103.40 points, or 2.4 percent, to 4,419.48.

This week so far has been a contrast to last week's turbulence in many ways. Volatility is down, the S&P 500 index is on pace to have its best week of the year and the price of crude oil has stopped sliding. The bond market has also stabilized, with the 10-year Treasury note remaining around 2.20 percent for the last several days.

"Last week the main thing driving the market was the decline in oil, the Ebola scare and the rally in the 10-year Treasury note. All of those items have stabilized," said Ian Winer, director of equity trading at Wedbush Securities. "The Ebola risk, which was likely never a real issue, is being confirmed as such. Oil is holding at $80 a barrel and the 10-year note has stabilized."

That said, there's still a chance for bumps ahead given that a meeting of the Federal Reserve is coming up next week where the central bank is expected to end its bond-buying economic stimulus program for good. Growth worries in Europe and China are still top of mind, and with U.S. corporate earnings season underway, the market's direction could change quickly, traders and strategists said.

"Investors are likely to see more volatility, not less. We expected this to happen now that the Fed's quantitative easing program is ending," Hooper said. "We are in unusual times, so expect to see more of an outsized reaction in the market."

Since falling to a six-month low last week, the stock market has now basically recovered nearly all of its losses. After closing at 1,862.49 on Oct. 15, the S&P 500 index has rallied more than 4 percent in four days.

One notable part of the market investors have been moving back into is smaller, riskier companies. While the S&P 500 and Dow are still down 1.6 percent to 2.5 percent this month, respectively, the Russell 2000 is up 1 percent for October.

"That's an important sign that investors are regaining their confidence," Hooper said.

Apple gave a boost to the overall market. The maker of iPhones and iPads rose $2.71, or 2.7 percent, to $102.47 after its quarterly results easily beat analysts' expectations. Apple said it earned $1.42 a share last quarter, helped by strong sales of the latest version of the iPhone.

Investors also had an encouraging report out of Asia. China's economy expanded by 7.3 percent in the third quarter from a year earlier. Although growth slowed slightly from the previous quarter's 7.5 percent, analysts had expected a more marked slowdown, to 6.9 percent.

China has been a worry spot for investors for many weeks, and has been a key reason why financial markets have been volatile lately. Signs of a slowdown in Europe have also been worrying investors.

"After last week's volatility in the financial markets, the last thing investors needed was bad news out of China," said Neil MacKinnon, global macro strategist at VTB Capital.

In other company news, Coca-Cola fell $2.61, or 6 percent, to $40.68 after the company warned it might not meet its previous financial targets. While its earnings came in roughly where analysts had expected them to be, Coke said it doesn't expect to meet its long-term target of high-single-digit growth. The company also announced it would undergo a $3 billion a year cost-cutting program by 2019.

McDonald's also came out with figures that disappointed investors. The company said sales declined 3.3 percent globally, while in Asia, a key area for the company, sales fell 9.9 percent. McDonald's shares fell 58 cents, or 0.6 percent, to $91.01.

In commodities, oil prices were rising after weeks of declines. Crude gained as the better-than-expected economic data from China suggested higher global demand for oil. Benchmark U.S. crude rose 10 cents to close at $82.81 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 82 cents to close at $86.22 on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX, wholesale gasoline rose 1.3 cents to close at $2.213 a gallon, heating oil rose 2.7 cents to close at $2.513 a gallon and natural gas rose 4.1 cents to close at $3.711 per 1,000 cubic feet.

The recovery in oil prices helped send energy stocks higher. The energy sector in the S&P 500 jumped 2.9 percent Tuesday, by far the biggest gain of the 10 sectors in the index.

In metals trading, gold rose $7 to $1,251.70 an ounce, silver rose 20 cents to $17.55 an ounce and copper rose four cents to $3.03 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-153.49	points or ▼	-0.92%	on	Wednesday, 22 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,461.32	▼	-153.49	▼	-0.92%		
	Nasdaq____	4,382.85	▼	-36.63	▼	-0.83%		
	S&P_500___	1,927.11	▼	-14.17	▼	-0.73%		
	30_Yr_Bond____	3.00	▲	0.02	▲	0.54%		

NYSE Volume	 3,729,800,000 	 	 	 	 	  		 
Nasdaq Volume	 1,882,293,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,399.73	▲	27.40	▲	0.43%		
	DAX_____	8,940.14	▲	53.18	▲	0.60%		
	CAC_40__	4,105.09	▲	23.85	▲	0.58%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,373.30	▲	60.80	▲	1.14%		
	Shanghai_Comp	2,326.55	▼	-13.10	▼	-0.56%		
	Taiwan_Weight	8,748.83	▲	94.19	▲	1.09%		
	Nikkei_225___	15,195.77	▲	391.49	▲	2.64%		
	Hang_Seng.__	23,403.97	▲	315.39	▲	1.37%		
	Strait_Times.__	3,202.74	▲	0.00	▲	0.00%		
	NZX_50_Index_	5,279.70	▲	46.58	▲	0.89%		

http://finance.yahoo.com/news/asia-stocks-gain-us-rally-052906583.html

*Slide in energy sector drags US stock market lower

S&P 500 falls, ending a four-day winning streak, as drop in oil price drags down energy stocks*
Associated Press
By Bernard Condon, AP Business Writer

NEW YORK (AP) -- Stocks fell broadly on Wednesday, snapping a four-day winning streak for the Standard & Poor's 500 index, as investors shaken by recent swings in the market sold some of their holdings.

A slide in the price of oil dragged down energy stocks. Eight of the 10 industry groups in the S&P 500 fell, led by a 1.7 percent drop in energy. Small-company stocks also fell as traders unloaded riskier assets.

"The market is still nervous," said John Manley, chief equity strategist at Wells Fargo Funds Management. "The extreme volatility of the last few weeks is on our minds."

The drop in the S&P 500 came a day after the index's biggest gain this year.

Stocks were higher most of the morning on hopes that the European Central Bank would add to its stimulus program as well as news that U.S. inflation remained low last month. A batch of good earnings reports from U.S. companies also helped.

Those gains vanished in the afternoon as the price of crude oil began to drop. Traders have worried about a steady decline in oil as global demand for energy recedes.

"The market is taking a bit of breather," shrugged TD Ameritrade Chief Strategist JJ Kinahan. "People are reassessing what their expectations should be for the rest of the earnings season."

The S&P 500 dropped 14.17 points, or 0.7 percent, to 1,927.11. The Dow Jones industrial average fell 153.49 points, or 0.9 percent, to 16,461.32. The Nasdaq composite fell 36.63 points, or 0.8 percent, to 4,382.85.

The losses were mitigated by a batch of generally positive third-quarter earnings reports, which suggested that corporate profits were still growing at a healthy clip. Yahoo jumped 5 percent after reporting blowout earnings.

The closely watched Vix index, a gauge of expected swings in stock prices, surged nearly two points to 18. That is above the recent average of 15, but far below last week's high of 30.

TD Ameritrade's Kinahan suggested investors may have pushed up the Vix in reaction to news of a gunman killing a soldier outside a war memorial in Canada earlier in the day. But he was doubtful the shooting impacted the overall market much.

A big question hanging over stocks is just how good can corporate earnings get as Europe inches closer to recession and China slows.

So far this earnings season, investors have been encouraged. With about a fifth of S&P 500 companies out with their results and outlooks, stocks look reasonably priced as measured by expectations of future earnings. The index is trading at 15.8 times expected earnings per share over the next 12 months, according to S&P Capital IQ, a research firm. That is not much lower”” meaning cheaper ””than the average of 16.4 since 2001.

But other measures, comparing stock prices to earnings over the past 10 years, for instance, suggest the market may be overvalued.

Investors will get a clearer view on Thursday, a big day for earnings across industries. Those reporting include Microsoft, 3M, Amazon.com, Caterpillar and United Continental.

The government reported that consumer prices rose 1.7 percent in the year to date through September, below the 2 percent target set by the Federal Reserve. Low inflation has allowed the central bank to keep rates at record lows to help the economy by encouraging lending and hiring.

Frank Fantozzi, CEO of money management firm Planned Financial Services, says low inflation is another reason to resist selling when stocks are dropping, like they did Wednesday.

"Energy prices are pretty low and wages have stayed pretty flat. You look at that, and GDP growing pretty healthily, and there are too many good things," Fantozzi said. "The market should push through this."

Among stocks making big news:

”” Broadcom, a semiconductor company, rose 5.5 percent, the largest gain in the S&P 500, after reporting earnings late Tuesday that topped Wall Street estimates. The stock rose $2.04 to $39.37.

”” Biogen Idec dropped 5 percent despite a strong quarter. The drug company said a patient who took its newest multiple sclerosis drug suffered a brain inflammation and later died. The stock dropped $17.70 to $309.07.

The price of oil fell sharply after the Energy Department reported an increase in oil inventories that was far larger than analysts expected. The benchmark U.S. crude contract fell $1.97 to $80.52 a barrel in New York.

Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.51 to close at $84.71 on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX, wholesale gasoline fell 5.7 cents to close at $2.156 a gallon, heating oil fell 4.0 cents to close at $2.473 a gallon and natural gas fell 5.2 cents to close at $3.659 per 1,000 cubic feet.

Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 2.22 percent.

Gold fell $6.20 to $1,245.50 an ounce, silver fell 32 cents to $17.23 an ounce and copper fell a penny to $3.02 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	216.58	points or ▲	1.32%	on	Thursday, 23 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,677.90	▲	216.58	▲	1.32%		
	Nasdaq____	4,452.79	▲	69.95	▲	1.60%		
	S&P_500___	1,950.82	▲	23.71	▲	1.23%		
	30_Yr_Bond____	3.05	▲	0.05	▲	1.53%		

NYSE Volume	 3,756,220,250 	 	 	 	 	  		 
Nasdaq Volume	 1,876,923,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,419.15	▲	19.42	▲	0.30%		
	DAX_____	9,047.31	▲	107.17	▲	1.20%		
	CAC_40__	4,157.68	▲	52.59	▲	1.28%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,369.90	▼	-3.40	▼	-0.06%		
	Shanghai_Comp	2,302.42	▼	-24.14	▼	-1.04%		
	Taiwan_Weight	8,731.07	▼	-17.76	▼	-0.20%		
	Nikkei_225___	15,138.96	▼	-56.81	▼	-0.37%		
	Hang_Seng.__	23,333.18	▼	-70.79	▼	-0.30%		
	Strait_Times.__	3,236.50	▲	33.76	▲	1.05%		
	NZX_50_Index_	5,292.83	▲	13.13	▲	0.25%		

http://finance.yahoo.com/news/asia-stocks-down-mixed-china-055857197.html

*US stocks jump following strong corporate earnings

US stocks rise sharply following strong earnings from 3M, Caterpillar, others*
Associated Press
By Steve Rothwell, AP Business Writers

NEW YORK (AP) -- A combination of strong company earnings and encouraging economic reports, both in the U.S. and Europe, gave the stock market another day of solid gains on Thursday.

Caterpillar jumped after its third-quarter earnings report was better than Wall Street analysts had been expecting. The company also raised its profit outlook for the year. 3M, the maker of Post-it notes, industrial coatings and ceramics, was among other companies that gained after releasing impressive third-quarter results.

Investors were also cheered by a report that showed the number of people applying for U.S. unemployment benefits remains at a historically low level, suggesting that hiring is gaining steam. In Europe, a survey of businesses eased concerns that the region may be slipping back into recession.

Solid company earnings are sending the stock market higher and helping it recover from a jarring drop in mid-October that gave the Standard & Poor's 500 index its biggest slump in two years. The index has gained on five of the last six days, and on Tuesday logged its biggest advance of the year.

"The economic backdrop here in the United States is continuing to look strong. Earnings are validating that," said Karyn Cavanaugh, a senior market strategist at Voya Investment Management.

The Standard & Poor's 500 index rose 23.71 points, or 1.2 percent, to 1,950.82. The Dow Jones industrial average climbed 216.58 points, or 1.3 percent, to 16,677.90. The Nasdaq composite rose 69.95 points, or 1.6 percent, to 4,452.79.

Eight of the ten sectors in the S&P 500 gained, led by a surge in industrial companies after Caterpillar and 3M reported their earnings.

Caterpillar said that some belt tightening had helped it contend with a slowing global economy. The company's CEO said he was hopeful that economic growth would pick up next year. Caterpillar's stock rose $4.70, or 5 percent, to $99.27. 3M gained $6.10, or 4.4 percent, to $145.05.

Companies in the S&P 500 have reported earnings growth of 5.5 percent for the third quarter, according to analysts at S&P Capital IQ. The rate of growth has slowed from 10.4 percent in the second quarter, but is forecast to pick up in the final three months of the year.

Stocks had started the day higher, following gains in European indexes, after a survey of the manufacturing and services sectors eased some fears that the region could be falling back into recession.

Financial information company Markit said its composite purchasing managers index for the 18-country bloc, a broad gauge of business activity, rose to 52.2 in October from 52 in September. Analysts had expected a small decline. Readings above 50 suggest expansion.

Although the reports from Europe "weren't fantastic," they suggested that the region would avoid sliding back into recession, said David Lebovitz, Global Market Strategist at J.P. Morgan Funds. Concerns about the worsening growth outlook in Europe helped push stocks sharply lower last week.

"It almost feels like the markets can breathe a sigh of relief for the time being," Lebovitz said. "That, combined with the earnings numbers, is what's driving the market."

European markets closed higher. France's CAC-40 rose 1.3 percent. Germany's DAX gained 1.2 percent and Britain's FTSE 100 edged up 0.3 percent.

In energy trading, the price of oil rose sharply Thursday on reports of lower production in Saudi Arabia and signs of strength in the U.S. economy.

The price of oil rose sharply on reports of lower production in Saudi Arabia and signs of strength in the U.S. economy. Benchmark U.S. crude rose $1.57 to close at $82.09 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $2.12 to close at $86.83 on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX, wholesale gasoline rose 5.1 cents to close at $2.207 a gallon, heating oil rose 2.6 cents to close at $2.499 a gallon natural gas fell 3.7 cents to close at $3.622 per 1,000 cubic feet.

In currency trading, the dollar was little changed against the euro, trading at $1.2651. The dollar climbed to 108.16 yen. U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.28 percent from 2.22 on Wednesday.

In metals trading, gold fell $16.40 to $1,229.10 an ounce, silver fell seven cents to $17.16 an ounce and copper rose two cents to $3.04 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	127.51	points or ▲	0.76%	on	Friday, 24 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,805.41	▲	127.51	▲	0.76%		
	Nasdaq____	4,483.72	▲	30.92	▲	0.69%		
	S&P_500___	1,964.58	▲	13.76	▲	0.71%		
	30_Yr_Bond____	3.05	▲	0.00	▲	0.13%		

NYSE Volume	 3,062,606,250 	 	 	 	 	  		 
Nasdaq Volume	 1,697,352,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,388.73	▼	-30.42	▼	-0.47%		
	DAX_____	8,987.80	▼	-59.51	▼	-0.66%		
	CAC_40__	4,128.90	▼	-28.78	▼	-0.69%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,399.30	▲	29.40	▲	0.55%		
	Shanghai_Comp	2,302.28	▼	-0.14	▼	-0.01%		
	Taiwan_Weight	8,646.01	▼	-85.06	▼	-0.97%		
	Nikkei_225___	15,291.64	▲	152.68	▲	1.01%		
	Hang_Seng.__	23,302.20	▼	-30.98	▼	-0.13%		
	Strait_Times.__	3,222.55	▼	-13.95	▼	-0.43%		
	NZX_50_Index_	5,333.83	▲	41.00	▲	0.77%		

http://finance.yahoo.com/news/asia-stocks-down-mixed-china-055857197.html
*
US stock market has best week in nearly 2 years*
Associated Press
By KEN SWEET

NEW YORK (AP) ”” The stock market closed out its best week in nearly two years on a positive note Friday, helped by strong quarterly earnings from Microsoft and other big U.S. companies.

After weeks of speculation over the fate of Europe's economy, Ebola fears and plunging oil prices, investors were able to get back to basics. Wall Street is in the midst of one of the busiest times of the year, when companies report their quarterly results. Ultimately what drives stock prices higher is the potential for a company to earn more, so higher profits generally mean higher stock prices.

"What matters most to the market are earnings expectations and corporate fundamentals, and so far they're looking pretty good," said Michael Arone, chief investment strategist at State Street Global Advisors.

Profits for S&P 500 companies are up 5.6 percent from a year ago this earnings season, according to FactSet. That growth is better than the 4.6 percent increase the market was expecting.

Quarterly results from Microsoft and UPS helped lift stocks Friday, but there have been other strong reports this week. Caterpillar, 3M, Apple and others have all came in well above expectations.

Microsoft's sales and profits were well above analysts' expectations. Cloud services, a business the company has focused on, also grew. Microsoft rose $1.11, or 2.5 percent, to $46.13.

UPS also reported strong results and expects December shipments to rise 11 percent from a year ago. Many investors consider UPS a bellwether for how the U.S. economy is doing, particularly during the crucial holiday shopping season. UPS rose 11 cents, or 0.1 percent, to $100.59.

Investors were able to set aside dismal third-quarter results from Amazon. The online retailer's stock took a beating, but that wasn't enough to drag down the rest of the market.

The Dow Jones industrial average rose 127.51 points, or 0.8 percent, to 16,805.41. The Standard & Poor's 500 index added 13.76 points, or 0.7 percent, to 1,964.58 and the Nasdaq composite rose 30.92 points, or 0.7 percent, to 4,483.72.

The S&P 500 rose 4.1 percent for the week, its biggest gain since January 2013. But volatility can go both ways. Just as the market jumped sharply this week, it plunged just as sharply last week. The index is still down 0.4 percent for October.

"We've seen the market sell-off and we saw people buy on the bounce, and that looks like it will continue," said Brad McMillan, chief investment officer at Commonwealth Financial.

Amazon reported a steeper-than-expected quarterly loss despite soaring sales. Investors have grown impatient with the company, which has been unable to deliver profits even as it gains ground as one of the world's largest retail companies. Amazon fell $26.12, or 8 percent, to $287.06.

Investors are turning their focus to next week's Federal Reserve policy meeting for hints about the future of the central bank's bond purchases and its short-terms interest rates.

The bond-buying program has kept long-term rates extremely low to encourage investment and hiring. Recent mixed signals about the strength of the U.S. recovery have prompted speculation that the Fed might let the program continue for longer than previously anticipated.

Investors will also get another large batch of quarterly results from U.S. companies next week, when 159 members of the S&P 500 index report. Those companies include Merck, Exxon Mobil, Chevron and Visa.

The price of oil fell Friday on further evidence of ample supplies and weak demand. Benchmark U.S. crude fell $1.08 to close at $81.01 a barrel in New York.

Brent crude, a benchmark for international oils used by many U.S. refineries, fell 70 cents to close at $86.13 in London.

In New York, wholesale gasoline fell 2.5 cents to close at $2.182 a gallon, heating oil fell 1.7 cents to close at $2.482 a gallon and natural gas rose 0.1 cent to close at $3.623 per 1,000 cubic feet.

The price of gold rose $2.70 to $1,231.80 an ounce, silver rose two cents to $17.18 an ounce and copper was flat at $3.04 a pound.

6204


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	12.53	points or ▲	0.07%	on	Monday, 27 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,817.94	▲	12.53	▲	0.07%		
	Nasdaq____	4,485.93	▲	2.22	▲	0.05%		
	S&P_500___	1,961.63	▼	-2.95	▼	-0.15%		
	30_Yr_Bond____	3.03	▼	-0.02	▼	-0.52%		

NYSE Volume	 3,497,992,000 	 	 	 	 	  		 
Nasdaq Volume	 1,488,414,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,363.46	▼	-55.69	▼	-0.87%		
	DAX_____	8,902.61	▼	-85.19	▼	-0.95%		
	CAC_40__	4,096.74	▼	-32.16	▼	-0.78%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,441.90	▲	42.60	▲	0.79%		
	Shanghai_Comp	2,290.44	▼	-11.84	▼	-0.51%		
	Taiwan_Weight	8,627.78	▼	-18.23	▼	-0.21%		
	Nikkei_225___	15,388.72	▲	97.08	▲	0.63%		
	Hang_Seng.__	23,143.23	▼	-158.97	▼	-0.68%		
	Strait_Times.__	3,226.11	▲	3.56	▲	0.11%		
	NZX_50_Index_	5,333.83	▲	41.00	▲	0.77%		

http://finance.yahoo.com/news/asia-stocks-mostly-higher-ecb-032347790.html

*S&P 500 ends with slight loss on oil, Europe woes*
Associated Press
By Matthew Craft, AP Business Writer 

NEW YORK (AP) -- Lower oil prices and more gloomy economic news from Europe tugged the U.S. stock market to a slight loss on Monday.

Companies whose fortunes tend to follow global economic growth fared the worst, as shares of oil companies and material producers dropped 2 percent. Those industries that depend on the U.S. economy, including telecoms, held steady.

"What we're seeing is a market trying to find its footing right now," said Kevin Mahn, president and chief investment officer of Hennion & Walsh Asset Management.

The Standard & Poor's 500 index closed with a loss of 2.95 points, or 0.2 percent, at 1,961.63.

The Nasdaq composite rose 2.22 points, a fraction of a percent, to 4,485.93, while the Dow Jones industrial average picked up 12.53 points, or 0.1 percent, to 16,817.94.

The news out Monday was mostly glum. Business confidence in Germany, Europe's largest economy, declined for a sixth straight month, and Goldman Sachs said slowing economic growth around the world led it to lower its forecast for crude prices.

The European Central Bank released the results of its stress tests of Europe's 130 biggest banks and said 13 of them still needed to raise more capital to survive a severe downturn. The bank that did worst in the tests, Italy's Monte dei Paschi di Siena, saw its shares plunge 18 percent. Those that passed, however, traded higher.

Germany's DAX lost 0.9 percent. France's CAC 40 dropped 0.8 percent, and Britain's FTSE 100 dipped 0.4 percent.

Last week, the U.S. stock market turned in its best performance in nearly two years. The rise helped the S&P 500 regain ground from four weeks of losses. The benchmark index had dropped almost 6 percent by mid-October, but is now down just a fraction ”” 0.5 percent ”” for the month.

David Joy, chief market strategist at Ameriprise Financial, thinks the volatility is tied to actions by the world's central banks. The Federal Reserve is winding down its $4 trillion bond-buying program ”” known as QE ”” this month. And many investors expect the European Central Bank to launch its own program on a similar scale.

"We're approaching the end of QE, and I think the market is going through a period when people are asking, how important is it to lack that support?" Joy said. "The open question is how robust is the economy you're left with. Is it strong enough to sustain earnings growth?"

Rising supplies and weak global demand continued to weigh on the price of crude oil on Monday, which has tumbled from a high of $107 a barrel in June. Goldman Sachs was the latest Wall Street bank to lower its forecast for prices in a report, saying OPEC was unlikely to cut exports to try and push prices back up. Benchmark U.S. crude fell 1 cent to close at $81 a barrel in New York after trading much lower earlier in the day.

Oil and gas companies sank. Halliburton and Nabors Industries both dropped more than 6 percent.

Among other companies making big moves, Micron Technology surged 4 percent after the chip maker announced plans to spend as much as $1 billion to buy its own shares. Micron jumped $1.24 to $32.30, extending a rally that has pushed the stock up 48 percent this year.

Merck said its earnings and sales fell in the third quarter, and the pharmaceutical company also scaled back its most optimistic forecasts for full-year profits and revenue. The news knocked Merck's stock down $1.16, or 2 percent, to $56.45.

In other trading on Monday, prices barely budged in the market for U.S. government bonds. The yield on the 10-year Treasury note slipped to 2.26 percent from 2.27 percent late Friday.

In the commodity markets, gold fell $2.50 to settle at $1,229.30 an ounce, silver fell 2 cents to $17.16 an ounce and copper edged up 2 cents to $3.06 a pound.

Brent crude, a benchmark for international oils used by many U.S. refineries, fell 30 cents to close at $85.13 in London.

In other trading on the New York Mercantile Exchange:

”” Wholesale gasoline fell 1.2 cents to close at $2.170 a gallon.

”” Heating oil fell 0.7 cents to close at $2.475 a gallon.

”” Natural gas fell 6.2 cents to close at $3.561 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	187.81	points or ▲	1.12%	on	Tuesday, 28 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,005.75	▲	187.81	▲	1.12%		
	Nasdaq____	4,564.29	▲	78.36	▲	1.75%		
	S&P_500___	1,985.05	▲	23.42	▲	1.19%		
	30_Yr_Bond____	3.06	▲	0.02	▲	0.76%		

NYSE Volume	 3,602,050,750 	 	 	 	 	  		 
Nasdaq Volume	 1,849,439,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,402.17	▲	38.71	▲	0.61%		
	DAX_____	9,068.19	▲	165.58	▲	1.86%		
	CAC_40__	4,112.67	▲	15.93	▲	0.39%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,434.00	▼	-7.90	▼	-0.15%		
	Shanghai_Comp	2,337.87	▲	47.43	▲	2.07%		
	Taiwan_Weight	8,773.55	▲	145.77	▲	1.69%		
	Nikkei_225___	15,329.91	▼	-58.81	▼	-0.38%		
	Hang_Seng.__	23,520.36	▲	377.13	▲	1.63%		
	Strait_Times.__	3,211.65	▼	-14.46	▼	-0.45%		
	NZX_50_Index_	5,338.33	▲	4.50	▲	0.08%		

http://finance.yahoo.com/news/global-stocks-mostly-higher-fed-meeting-awaited-091856970.html

*Stocks rise as profits, confidence index climb*
Associated Press
By BERNARD CONDON 

NEW YORK (AP) ”” Strong corporate earnings pushed up stocks across industries on Tuesday, with the energy sector and small companies leading the gains.

Stocks rose from the open, then built on the momentum as investors sifted through mostly encouraging quarterly results. Whirlpool, AutoNation and engine-maker Cummins all rose 7 percent after reporting their results.

The surge in stocks in recent days is a turnaround from Oct. 15, when the Standard and Poor's 500 closed just short of a "correction," defined as a drop of 10 percent or more from a recent high. With the gains on Tuesday, the index has nearly erased all those losses.

"Here we are just two weeks later, and we've just about gained it back," said Scott Wren, a stock strategist at Wells Fargo Advisors. "We think it's still going up."

Investors were cheered also by news that a key gauge of U.S. consumer confidence rebounded strongly in October. The Conference Board reported that its confidence index hit a seven-year high as solid job gains raised expectations for economic growth, an encouraging sign for retailers as they head into the holiday shopping season.

"We're predicting Christmas is going to be very strong," said Phil Orlando, chief equity strategist at Federated Investments. "Stocks are cheap right now."

The S&P 500 rose 23.42 points, or 1.2 percent, to 1,985.05. That puts it another strong day from it a record high. It's now just 26.31 points short of its Sept. 18 record close of 2,011.36.

All ten industry groups in the index rose, led by a 2.3 percent gain in energy stocks.

The Dow Jones industrial average rose 187.81 points, or 1.1 percent, to 17,005.75. The Nasdaq composite climbed 78.36 points, or 1.8 percent, to 4,564.29.

The biggest gain was in the Russell 2000, a small stock index. It jumped 2.9 percent.

In other economic news, orders to U.S. companies for long-lasting manufactured goods fell for a second month in September, a government report showed. Orders have jumped around in recent months due to moves in the volatile category of aircraft orders.

Homebuilders rose following news that U.S. home prices grew in August, albeit at a more modest pace. The Standard & Poor's/Case-Shiller 20-city home price index rose 5.6 percent in August from 12 months earlier. Home prices were rising at a double-digit pace as recently as last fall. Meritage Homes rose 84 cents, or 2.2 percent, to $38.60.

Investors are now looking ahead to Wednesday's announcement from the Federal Reserve's policymaking committee for insight into when the central bank might start raising interest rates. The Fed is winding down its $4 trillion bond-buying program, which is known as quantitative easing. There is heightening concern about whether the U.S. economy is strong enough to sustain growth without that support.

Among other stocks making big moves Tuesday:

”” Amgen rose 6 percent after it announced plans to cut more jobs, buy back $2 billion worth of stock and raise its dividend by 30 percent. That followed news Monday that third-quarter adjusted earnings and revenue for the world's biggest biotech drugmaker topped Wall Street's expectations. The stock rose $8.99 to $157.19.

”” Madison Square Garden Co. surged 11 percent after the company said it's considering a plan to split off its entertainment businesses from its media and sports divisions. The stock rose $7.21 to $72.99.

”” Twitter reported third-quarter revenue late Monday that outpaced expectations, but investors are worried about revenue for the last three months of the year and growth in the number of users. The stock plummeted $4.78 to $43.78, a loss of 10 percent.

The price of oil rose as rising consumer confidence led investors to anticipate greater demand for energy.

U.S. crude rose 42 cents to $81.42 a barrel in New York. That helped push up energy stocks 2.3 percent, the biggest gain among the 10 industry groups in the S&P 500. Crude has dropped sharply since June, when it went as high as $107 a barrel.

Brent crude, a benchmark for international oils used by many U.S. refineries, rose 20 cents to close at $86.03 a barrel on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX, wholesale gasoline rose 2.6 cents to close at $2.196 a gallon, heating oil rose 1.8 cents to close at $2.493 a gallon and natural gas rose 8.8 cents to close at $3.649 per 1,000 cubic feet.

In bond trading, the price of the 10-year Treasury note fell slightly. The yield, which moves in the opposite direction, rose to 2.29 percent from 2.26 percent late Monday.

The price of gold edged up 10 cents to $1,229.40 an ounce, silver rose six cents to $17.23 an ounce and copper rose three cents to $3.09 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-31.44	points or ▼	-0.18%	on	Wednesday, 29 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,974.31	▼	-31.44	▼	-0.18%		
	Nasdaq____	4,549.23	▼	-15.07	▼	-0.33%		
	S&P_500___	1,982.30	▼	-2.75	▼	-0.14%		
	30_Yr_Bond____	3.05	▼	-0.01	▼	-0.29%		

NYSE Volume	 3,761,590,250 	 	 	 	 	  		 
Nasdaq Volume	 2,076,175,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,453.87	▲	51.70	▲	0.81%		
	DAX_____	9,082.81	▲	14.62	▲	0.16%		
	CAC_40__	4,110.64	▼	-2.03	▼	-0.05%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,431.10	▼	-2.90	▼	-0.05%		
	Shanghai_Comp	2,373.03	▲	35.16	▲	1.50%		
	Taiwan_Weight	8,903.68	▲	130.13	▲	1.48%		
	Nikkei_225___	15,553.91	▲	224.00	▲	1.46%		
	Hang_Seng.__	23,819.87	▲	299.51	▲	1.27%		
	Strait_Times.__	3,224.03	▲	12.38	▲	0.39%		
	NZX_50_Index_	5,355.88	▲	17.54	▲	0.33%		

http://finance.yahoo.com/news/world-stocks-gain-focus-shifts-fed-meeting-085843076--finance.html

*Stocks slip after Fed statement; Dollar gains*
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) ”” An optimistic statement from the Federal Reserve sent the dollar up and gold prices down Wednesday as traders prepared for rising interest rates.

Major U.S. stock indexes ended with a slight loss after the Fed confirmed that it was shutting down a bond-buying program because the economy no longer needs as much help.

At the end of a two-day meeting, the Fed said that it had ended its $4 trillion bond-buying program, known as quantitative easing, or QE for short, as a result of "underlying strength in the broader economy."

"I was pleasantly surprised," said Brad Sorenson, director of market and sector analysis at Charles Schwab. Sorenson liked the statement's optimistic tone and was happy the Fed didn't extend its stimulus effort. Launching another round of bond purchases would have raised worries about the economy and backfired, he said.

"They don't have a lot of bullets left to shoot at any problems," he said. "The effectiveness of quantitative easing diminishes each time it's done."

The Standard & Poor's 500 index fell 2.75 points, or 0.1 percent, to 1,982.30. The Dow Jones industrial average fell 31.44 points, or 0.2 percent, to 16,974.31. The Nasdaq composite fell 15.07 points, or 0.3 percent, to 4,549.23.

The S&P 500 index, the benchmark for most investment funds, is now up half a percent for the month of October. It had slumped as much as 6 percent on Oct. 15 as a host of concerns sent markets tumbling.

Marty Leclerc, chief investment officer at Barrack Yard Advisors, said the market should be able to handle an interest rate increase from near zero to something slightly higher. The Fed has made clear that it plans to move carefully. "The fact is, easy money is still here," he said. "They're not taking away the punch bowl, they're just dialing down the amount of booze in the punch."

The Fed restated a pledge to keep its benchmark short-term rate near zero, but it also pointed to signs of strength in the job market. Most economists think the Fed won't raise that rate until the middle of next year.

"Today's statement shows the Fed believes the economy is nearing the final stages of full recovery," said Chris Rupkey, chief financial economist at the Bank of Tokyo Mitsubishi, in a note to clients. "They halted the QE purchases today, and tomorrow, rate hikes are coming. Bet on it."

Gold dropped and the dollar jumped after the statement came out Wednesday afternoon. Gold fell $17.70, or 1.4 percent, to $1,211.70 an ounce. Silver fell 14 cents to $17.09 an ounce. Copper lost a penny to $3.08 a pound.

A widely used gauge of the dollar's strength against other currencies, the ICE dollar index, rose 0.6 percent to 85.96.

U.S. government bond prices dipped, nudging the yield on the 10-year Treasury note up to 2.32 percent.

Solid earnings from Caterpillar, Microsoft and other big companies have helped the stock market recover from its slide earlier this month. Nearly half of the big companies in the S&P 500 index have turned in third-quarter results, and more than seven out of 10 have cleared analysts' targets, according to S&P Capital IQ. Earnings are on track to rise 6 percent for the third quarter.

Videogame maker Electronic Arts turned in earnings that topped analysts' estimates and raised its profit projections for the year. Sales of "FIFA 14," a soccer game, and "Titanfall," a first-person shooter game, helped lift revenue. EA's stock rose $1.43, or 4 percent, to $38.91.

Facebook lost 6 percent after its chief financial officer said that expenses for the social networking giant could increase by as much as 75 percent next year as it ramps up spending on investments. Its stock dropped $4.91 to $75.86.

Orbital Sciences Corporation sank following news that its Antares rocket exploded moments after lifting off from its launch pad on Tuesday. The rocket was carrying a supply ship for astronauts on the International Space Station, part of Orbital's contract with NASA. Orbital's stock plunged $5.10, or 17 percent, to $25.27.

In the commodity markets, benchmark U.S. crude oil rose 78 cents to $82.20 a barrel. Brent crude, the global benchmark, gained $1.09 to $87.12 a barrel in London. The U.S. Energy Department said U.S. crude oil supplies rose by 2.1 million barrels last week, about 700,000 barrels below the expectations of analysts surveyed by Platts.

In other trading:

”” Wholesale gasoline rose 2.5 cents to $2.221 a gallon

”” Heating oil added 4.2 cents to $2.535 a gallon

”” Natural gas jumped 7.9 cents to $3.728 per 1,000 cubic feet


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	221.11	points or ▲	1.30%	on	Thursday, 30 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,195.42	▲	221.11	▲	1.30%		
	Nasdaq____	4,566.14	▲	16.91	▲	0.37%		
	S&P_500___	1,994.65	▲	12.35	▲	0.62%		
	30_Yr_Bond____	3.04	▼	-0.01	▼	-0.39%		

NYSE Volume	 3,569,891,500 	 	 	 	 	  		 
Nasdaq Volume	 1,936,917,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,463.55	▲	9.68	▲	0.15%		
	DAX_____	9,114.84	▲	32.03	▲	0.35%		
	CAC_40__	4,141.24	▲	30.60	▲	0.74%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,457.10	▲	26.00	▲	0.48%		
	Shanghai_Comp	2,391.08	▲	18.05	▲	0.76%		
	Taiwan_Weight	8,888.07	▼	-15.61	▼	-0.18%		
	Nikkei_225___	15,553.91	▲	224.00	▲	1.46%		
	Hang_Seng.__	15,658.20	▲	104.29	▲	0.67%		
	Strait_Times.__	23,702.04	▼	-117.83	▼	-0.49%		
	NZX_50_Index_	3,234.31	▲	10.28	▲	0.32%		

http://finance.yahoo.com/news/stocks-mostly-gain-fed-ends-stimulus-092151926.html

*Big gain in Visa drives Dow average higher

US stock indexes rise; Big gain in Visa drives Dow Jones industrial average higher*
Associated Press
By Matthew Craft, AP Business Writer 

NEW YORK (AP) -- Solid quarterly results from a range of big companies helped send the stock market slightly higher Thursday. The standout was Visa, whose 10 percent jump helped tug the Dow Jones industrial average up nearly 200 points.

Visa, the world's largest payment-processing company, turned in quarterly earnings late Wednesday that topped Wall Street's forecasts and announced plans to spend as much as $5 billion on buying its own shares. Visa's stock gained $21.99 to $236.65.

For investors, there was plenty of encouraging news. Before the market opened, the government said that the U.S. economy grew at an annual rate of 3.5 percent in the three months ending in September, powered by more business investment, sales abroad and the biggest jump in military spending in five years.

"It's another report that indicates the economy can stand on its own two feet," said Peter Cardillo, chief market economist at Rockwell Global Capital Management, referring to the government's estimate of economic growth.

The Standard & Poor's 500 index gained 12.35 points, or 0.6 percent, to close at 1,994.65. The Nasdaq composite rose 16.91 points, or 0.4 percent, to 4,566.14.

The Dow Jones industrial average surged 221.11 points, or 1.3 percent, to 17,195.42. Unlike other market measures, the Dow weighs its roster of 30 large corporations by their stock prices rather than by their market size. That means companies with the most expensive stocks, such as Visa and Goldman Sachs, have more power to drive the average up or down.

The world's second-largest card-payment company, MasterCard, said its third-quarter profit surged as Americans appeared less hesitant to use their debit and credit cards. The results beat Wall Street's expectations, propelling MasterCard's stock up $7.14, or 9 percent, to $83.13.

Sam Stovall, chief equity strategist at S&P Capital IQ, saw a number of optimistic signs for the market. Reports that Visa and MasterCard are handling more transactions could mean that Americans will be more likely to open their wallets during the holiday shopping season. What's more, the market is approaching a stretch that nearly always rewards investors.

"We're entering the best six months of the year, November through April," Stovall said. Since World War II, the market has climbed 94 percent of the time, for an average gain of 15 percent.

Rising corporate earnings have helped turn the market higher in recent weeks. More than half of the S&P 500's members have released their third-quarter results, and roughly seven out of 10 have beaten Wall Street's targets, according to S&P Capital IQ. Third-quarter earnings are now on track to increase nearly 7 percent, with health-care companies reporting the largest profit gains.

BorgWarner, a maker of car parts, said a slide in the value of foreign currencies against the dollar will hamper its results this year. The company, which operates in 19 countries, cut its forecast for full-year profits and sales. BorgWarner slumped $2.49, or 4 percent, to $54.37.

In Europe, France's CAC 40 gained 0.7 percent and Germany's DAX edged up 0.4 percent. Britain's FTSE 100 rose 0.1 percent.

Back in the U.S., the price of the 10-year Treasury note edged up, and its yield, which moves in the opposite direction, slipped to 2.31 percent from 2.32 percent late Wednesday.

Gold lost $26.30 to settle at $1,198.60 an ounce, silver fell 84 cents to $16.42 an ounce and copper fell four cents to $3.06 a pound.

In other commodity trading, the price of oil fell as the dollar strengthened, making oil priced in dollars less attractive to overseas buyers. Benchmark U.S. crude fell $1.08 to close at $81.12 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 88 cents to close at $86.24 on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX:

”” Wholesale gasoline fell 2.5 cents to close at $2.196 a gallon.

”” Heating oil fell 2.2 cents to close at $2.513 a gallon.

”” Natural gas rose 3.9 cents to close at $3.827 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	195.1	points or ▲	1.13%	on	Friday, 31 October 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,390.52	▲	195.10	▲	1.13%		
	Nasdaq____	4,630.74	▲	64.60	▲	1.41%		
	S&P_500___	2,018.05	▲	23.40	▲	1.17%		
	30_Yr_Bond____	3.06	▲	0.02	▲	0.79%		

NYSE Volume	 4,224,411,000 	 	 	 	 	  		 
Nasdaq Volume	 2,317,524,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,546.47	▲	82.92	▲	1.28%		
	DAX_____	9,326.87	▲	212.03	▲	2.33%		
	CAC_40__	4,233.09	▲	91.85	▲	2.22%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,505.00	▲	47.90	▲	0.88%		
	Shanghai_Comp	2,420.18	▲	29.10	▲	1.22%		
	Taiwan_Weight	8,974.76	▲	86.69	▲	0.98%		
	Nikkei_225___	16,413.76	▲	755.56	▲	4.83%		
	Hang_Seng.__	23,998.06	▲	296.02	▲	1.25%		
	Strait_Times.__	3,274.25	▲	39.94	▲	1.23%		
	NZX_50_Index_	5,387.83	▲	17.65	▲	0.33%		

http://finance.yahoo.com/news/japan-stocks-soar-5-percent-yen-falls-stimulus-054139125--finance.html

*Wall Street caps a wild month with a rally

From swoon to surge: US stocks reach record levels after Japan's surprise economic stimulus*
Associated Press
By Ken Sweet, AP Business Writer

NEW YORK (AP) -- For stock investors, there was no shortage of drama in October.

Stocks started the month modestly below a record high, only to cascade to their worst slump in two years. But after flirting with a correction, or a 10 percent drop, the U.S. market rebounded and closed at all-time highs on the last day of the month.

All told, U.S. stocks ended October solidly higher, up 2.3 percent. The Dow Jones industrial average capped the rally by rising 195.10 points, or 1.1 percent, to end at 17,390.52 on Friday. The Standard & Poor's 500 rose 23.40 points, or 1.2 percent, to 2,018.05 and the Nasdaq composite added 64.60 points, or 1.4 percent, to 4,630.74.

Both the Dow and the S&P 500 closed at record highs.

It's a remarkable turn given the month's volatility, which at times approached levels from the 2008 financial crisis. Then again, the month has an unfortunate history for unsettling moves, with the stock market crashes of 1929 and 1987 both happening in October.

This October, the market's seesaw path was driven by fears that Europe's economy was slipping back into a recession, worries about plunging oil prices and concerns of possible weakness in the U.S. economy. Oh, and don't forget Ebola. Those anxieties sent the market, for the most part, straight down for two weeks.

The nadir came on Oct. 15, when the S&P 500 came with a hair's breadth of going into a correction. Investors had suspected such a drop. The last one occurred in late 2011, and historically corrections happen every 18 months or so.

But just after the market came close to going into a correction, it bounced right back. Strong U.S. corporate earnings were the primary driver of the rebound as well as signs that central banks in Japan and Europe were going to do all they could to stop their economies from dragging everyone else down with them.

"I don't think it's a surprise that we came close to a correction. We've been expecting one for a while. I think the bigger surprise has been how we rip-roared all the way back up," said Bob Doll, chief equity strategist at Nuveen Asset Management. "When you hit someone over their head with a hammer, you don't expect them to get up immediately."

U.S. companies have been, for the most part, reporting strong quarterly results the last two weeks. Corporate profits are up 7.3 percent from a year ago, according to FactSet, compared with the 4.5 percent investors had expected at the beginning of the month. And any worries about the U.S. economy earlier in the month evaporated as the data rolled in, mostly recently Thursday's data showing the U.S. economy grew at a 3.5 percent pace last quarter.

Friday's gains were driven by the Bank of Japan, which surprised investors by announcing it would increase its bond and asset purchases by 10 trillion yen to 20 trillion yen ($90.7 billion to $181.3 billion) to about 80 trillion yen ($725 billion) annually. The announcement came after data showed that the world's third-largest economy remains in the doldrums, with household spending dropping and unemployment ticking up.

Japan's move comes only two days after the U.S. Federal Reserve brought an end to its own bond-buying program. Investors have been hopeful that the European Central Bank might also start buying bonds to stimulate that region's economy by keeping interest rates low and injecting cash into the financial system. That form of stimulus is called quantitative easing, also known among investors as "QE."

"The Japanese central bank has taken the QE baton from the Fed, and equity traders couldn't be happier," said David Madden, market analyst at IG.

Japan's stock market rose 4.8 percent to the highest level since 2007.

The Japanese currency weakened dramatically following the Bank of Japan's announcement. The yen slumped 2.6 percent against the dollar to 112 yen. The yen is trading at the lowest level in more than five years. Japanese companies typically like a weak Japanese yen because it makes their exported goods cheaper abroad.

European stock markets rose broadly following the Bank of Japan's announcement on hopes that the ECB could be tempted to follow Japan's lead in stepping up stimulus measures. However, few think anything will be announced at the ECB's next policy meeting next Thursday.

"The willingness of the Bank of Japan to ease further in the fight against deflation will encourage those who think the ECB should be doing the same," said Julian Jessop, chief global economist at Capital Economics.

Britain's FTSE 100 rose 1.3 percent. France's CAC 40 jumped 2.2 percent and Germany's DAX climbed 2.3 percent.

In other markets, the price of U.S. benchmark crude oil fell 58 cents to $80.54 a barrel in New York as increasing production from OPEC members added to already high global supplies of oil.

Brent crude, used to price oil in international markets, dipped 38 cents to $85.86 in London. In other energy futures trading on the NYMEX, wholesale gasoline fell 2.6 cents to close at $2.169 a gallon, heating oil fell was flat at $2.515 a gallon and natural gas rose 4.6 cents to close at $3.873 per 1,000 cubic feet.

Bond prices fell. The yield on the U.S. 10-year Treasury note rose to 2.34 percent from 2.31 percent Thursday.

In metals trading, the price of gold fell $27 to $1,171.60 an ounce. Silver fell 31 cents to $16.11 an ounce and copper fell 2 cents to $3.05 a pound.

6590


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-24.28	points or ▼	-0.14%	on	Monday, 3 November 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,366.24	▼	-24.28	▼	-0.14%		
	Nasdaq____	4,638.91	▲	8.17	▲	0.18%		
	S&P_500___	2,017.81	▼	-0.24	▼	-0.01%		
	30_Yr_Bond____	3.07	▲	0.01	▲	0.20%		

NYSE Volume	 3,526,849,250 	 	 	 	 	  		 
Nasdaq Volume	 1,984,453,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,487.97	▼	-58.50	▼	-0.89%		
	DAX_____	9,251.70	▼	-75.17	▼	-0.81%		
	CAC_40__	4,194.03	▼	-39.06	▼	-0.92%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,485.00	▼	-20.00	▼	-0.36%		
	Shanghai_Comp	2,430.03	▲	9.85	▲	0.41%		
	Taiwan_Weight	9,004.86	▲	30.10	▲	0.34%		
	Nikkei_225___	16,413.76	▲	755.56	▲	4.83%		
	Hang_Seng.__	23,915.97	▼	-82.09	▼	-0.34%		
	Strait_Times.__	3,288.48	▲	14.23	▲	0.43%		
	NZX_50_Index_	5,418.22	▲	30.39	▲	0.56%		

http://finance.yahoo.com/news/stock-markets-recovery-led-drugmakers-175019286.html

*Stock market's recovery is led by drugmakers

Healthy recovery: Health care stocks lead market's rebound to record levels*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- For stocks, it's just what the doctor ordered.

Health care companies are leading the market's rebound from a sharp sell-off two weeks ago, helping push the Dow Jones industrial average and Standard & Poor's 500 index back to record levels.

The industry, which is made up of a range of companies, from global drugmakers like Pfizer to insurers like UnitedHealth, has risen 11.2 percent since October 15, when the stock market's recent slump hit bottom. That is a bigger rise than the 8.4 percent gain for the broader market.

The sector's surge has been driven by its strong third-quarter earnings.

About two-thirds of companies in the S&P 500 have now turned in results, and the health care industry is on track to have the best earnings growth, according to data from Estimize, a company that gathers forecasts from a range of financial professionals.

Average earnings growth for the sector is forecast to come in at 14 percent for the period, higher than growth of 11.7 percent for all companies in the index. Sales are also booming, with sector revenue expected to rise 12 percent for the quarter, above the 4.5 percent growth overall.

Celgene has been one of the best-performing health care stocks in the S&P 500 since the market slump ended Oct. 15. Shares of the biotechnology company have surged 24 percent since the bottom, helped by a strong earnings report last month that showed double-digit sales growth. The company is also confident about its drugs in development.

Health care stocks, which also include medical device makers and hospital owners, have been an investor favorite for some time. The sector is up 21 percent in 2014, and is on track to outperform the broader market for the fourth straight year.

What's driving the streak? Aging populations in the developed world mean more money is being spent on medicines and treatments.

Health care spending is forecast to grow at an average of 5.7 percent in the 10 years from 2013 to 2023, 1.1 percentage points faster than the overall growth rate for the economy, according to estimates from the Centers for Medicare and Medicaid Services. The U.S. now spends close to 20 percent of its gross domestic product on health care, compared with 14 percent twenty years ago, according to World Bank figures.

Within the sector, some big drug companies are attractive to investors because they pay a large dividend relative to the average S&P 500 company.

AbbVie, for example, has a healthy yield of 3.1 percent compared with 2 percent for the broader market. The yield shows how much a company pays out in dividends each year relative to the price of its stock.

The company is also benefiting from a strong business. The stock surged Friday after it reported third-quarter earnings that were better than analysts forecast. The maker of Crohn's disease treatment Humira also raised its earnings outlook for the second time this year.

The company has seen its stock price jump 16 percent since the end of the slump.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	17.6	points or ▲	0.10%	on	Tuesday, 4 November 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,383.84	▲	17.60	▲	0.10%		
	Nasdaq____	4,623.64	▼	-15.27	▼	-0.33%		
	S&P_500___	2,012.10	▼	-5.71	▼	-0.28%		
	30_Yr_Bond____	3.05	▼	-0.01	▼	-0.42%		

NYSE Volume	 3,912,931,000 	 	 	 	 	  		 
Nasdaq Volume	 1,876,855,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,453.97	▼	-34.00	▼	-0.52%		
	DAX_____	9,166.47	▼	-85.23	▼	-0.92%		
	CAC_40__	4,130.19	▼	-63.84	▼	-1.52%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,498.20	▲	13.20	▲	0.24%		
	Shanghai_Comp	2,430.68	▲	0.65	▲	0.03%		
	Taiwan_Weight	8,989.18	▼	-15.68	▼	-0.17%		
	Nikkei_225___	16,862.47	▲	448.71	▲	2.73%		
	Hang_Seng.__	23,845.66	▼	-70.31	▼	-0.29%		
	Strait_Times.__	3,281.57	▼	-9.27	▼	-0.28%		
	NZX_50_Index_	5,423.26	▲	5.04	▲	0.09%		

http://finance.yahoo.com/news/stocks-muted-china-factory-growth-090956116.html

*US stocks slip as oil slump hits energy companies*
Associated Press
By STEVE ROTHWELL

NEW YORK (AP) ”” The ongoing slump in oil prices weighed on stocks again on Tuesday, pushing energy companies to another day of big losses. Disappointing earnings outlooks from a range of companies, including Priceline and Michael Kors also weighed on the market.

Oil has fallen sharply in recent weeks as global supplies rise while demand for fuel trails expectations. The latest decline was prompted by reports that Saudi Arabia is cutting the price of oil that it supplies to the U.S. as it attempts to maintain its market share as U.S. production booms.

The drop in oil prices has hit energy stocks hard, driving them into negative territory for the year. It has also helped push the stock market back from the record levels that it reached last week.

"It's a case of sell first, ask questions later, for anything oil-related," said Quincy Krosby, a market strategist at Prudential Financial.

The Standard & Poor's 500 index fell 5.71 points, or 0.3 percent, to 2,012.10. The Nasdaq composite dropped 15.27 points, or 0.3 percent, to 4,623.64. The Dow Jones industrial average bucked the trend, edging up 17.60 points, or 0.1 percent, to 17,383.84.

While energy stocks are suffering, many analysts and investors predict that the U.S. economy will benefit in the long run from lower energy prices. Lower gas prices will put more money in consumers' pockets, giving them more spending power.

Airline stocks were among the winners Tuesday as energy prices fell. Fuel is their single largest operating cost and lower prices should mean higher profits if demand for air travel stays strong. Delta Airlines surged $1.71, or 4.2 percent, to $42.32. United Continental, Jet Blue and Southwest Airlines also logged big gains.

Investors were also keeping an eye on third quarter earnings reports.

Michael Kors fell the most in the S&P 500 index.

The maker of luxury handbags, shoes and other accessories gave an outlook for the fourth quarter that disappointed investors. The stock fell $6.57, or 8.4 percent, to $71.42.

Priceline also slumped. The online travel booking company dropped $100.82, or 8.4 percent, to $1,097.70 after the company hinted that the weak economic backdrop in Europe would hurt its earnings in the current quarter. The booking company reported that its earnings rose 28 percent in the third quarter, but its outlook for the current quarter fell short of analysts' projections.

Investors will also be following the outcome of the midterm elections. Polling across the board gives Republicans well over a 50 percent chance of turning out at least six incumbent Senate Democrats or capturing seats left vacant by Democrat retirements, an outcome that would put the opposition in charge of both houses of Congress in the final two years of Obama's second White House term.

Some strategists say that even if Republicans win both houses, it will likely have little impact on the direction of the stock market in coming months.

"The reality is that you're still going to have a Democratic president, and very little is going to get done in the last two years of his term," said David Lafferty, chief market strategist at Natixis Global Asset Management. "When elections really begin to matter is probably going to be in the next cycle."

The news from overseas may also have discouraged buyers.

The European Union cut its already low economic growth forecasts further on Tuesday, indicating the recovery will remain sluggish amid problems for the biggest economies, particularly France and Germany. The official forecast for growth this year in the 18-country eurozone was cut to 0.8 percent from a prediction of 1.2 percent made in the spring. The institution also cut its forecast for next year.

Germany's DAX dropped 0.9 percent to 9,169 while France's CAC-40 fell 1.5 percent to 4,129. The FTSE 100 of leading British shares fell 0.5 percent to 6,453.

The dollar's surge against the yen abated Tuesday, a day after the U.S. currency rose to its highest point in almost seven years. The dollar was flat at 113.51 yen. It fell against the euro, trading at $1.2550. U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.32 percent.

In currency trading, the dollar's surge against the yen abated after the U.S. currency rose to its highest point in almost seven years on Monday. The dollar traded flat at 113.51 yen. It fell against the euro, trading at $1.2550. U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.32 percent.

In metals trading, silver for December delivery slumped 25 cents, or 1.5 percent, to 15.95 an ounce. Gold for the same month dropped $2.10, or 0.2 percent, to $1,167.70 an ounce. Gold is now trading at a four-year low.

Copper for December slipped 4.7 cents, or 1.5 percent, to $3.02 per pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	100.69	points or ▲	0.58%	on	Wednesday, 5 November 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,484.53	▲	100.69	▲	0.58%		
	Nasdaq____	4,620.72	▼	-2.91	▼	-0.06%		
	S&P_500___	2,023.57	▲	11.47	▲	0.57%		
	30_Yr_Bond____	3.07	▲	0.01	▲	0.39%		

NYSE Volume	 3,758,487,500 	 	 	 	 	  		 
Nasdaq Volume	 1,910,342,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,539.14	▲	85.17	▲	1.32%		
	DAX_____	9,315.48	▲	149.01	▲	1.63%		
	CAC_40__	4,208.42	▲	78.23	▲	1.89%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,492.80	▼	-5.40	▼	-0.10%		
	Shanghai_Comp	2,419.25	▼	-11.42	▼	-0.47%		
	Taiwan_Weight	8,962.60	▼	-26.58	▼	-0.30%		
	Nikkei_225___	16,937.32	▲	74.85	▲	0.44%		
	Hang_Seng.__	23,695.62	▼	-150.04	▼	-0.63%		
	Strait_Times.__	3,287.54	▲	5.97	▲	0.18%		
	NZX_50_Index_	5,402.15	▼	-21.10	▼	-0.39%		

http://finance.yahoo.com/news/asia-stocks-lower-europe-growth-070223229.html

*US stocks gain as the price of crude oil rebounds*
Associated Press
By STEVE ROTHWELL

NEW YORK (AP) ”” Stocks returned to record levels on Wednesday as a rebound in oil prices boosted energy stocks. The stock market also gained after the completion of midterm elections that saw Republicans take control of the Senate.

The direction of the stock market has been dictated by swings in the price of oil this week. Energy stocks plunged on Monday and Tuesday on reports that Saudi Arabia was cutting prices for U.S.-bound crude. On Wednesday, oil rebounded on a smaller-than-expected increase in overall U.S. supplies.

Devon Energy was the biggest gainer in the Standard & Poor's 500 index after it reported record oil production late Tuesday and said that its third-quarter earnings more than doubled to $1.02 billion. The results were better than Wall Street analysts had forecast.

The stock market has returned to record levels after a sharp slump last month. The rebound has been fueled by a combination of rising corporate earnings and evidence that the economy is maintaining its gradual recovery.

"We're within the midst of a secular bull market right now, and I do believe the general trend right now in the U.S. stock market is going to be upward," said Kevin Mahn, President and Chief Investment Officer at Hennion & Walsh Asset Management.

The S&P 500 rose 11.47 points, or 0.6 percent, to 2,023.57. That surpassed the previous record of 2,018.05 set on Friday. The Dow Jones industrial average gained 100.69 points, or 0.6 percent, to 17,484.53. The index is also at an all-time high. The Nasdaq composite fell two points, or less than 0.1 percent, to 4,620.72.

Investors also assessed the impact of the midterm elections.

America awoke Wednesday to sharper dividing lines in an already divided government. Republicans gained control of the Senate and strengthened their hold on the House in a wave of Election Day victories late Tuesday. Republicans racked up Senate victories in seven states, including GOP-leaning Arkansas, Montana, South Dakota and West Virginia.

Many analysts pointed out though that a divided government isn't necessarily negative for the stock market.

Evaluating data going back to 1946, analysts at S&P Capital IQ found that the stock market had its best returns when a Democratic President was opposed by a unified Republican Congress. In the eight years when that combination was in place the S&P 500 index gained an average of 15.1 percent.

The worst returns occurred when a Republican president was working with a split Congress. In that scenario, stocks rose an average of just 3.5 percent a year.

Despite this week's events in Washington, what matters more for investors when evaluating companies is the strength of their balance sheets and their earnings potential, said W. Janet Dougherty, a global investment specialist based in Chicago with J.P. Morgan Private Bank.

"In the near-term what happens in Washington shouldn't deter you, or impact how you're investing," Dougherty said. "It's really does come down to fundamentals."

Investors also got some encouraging news on hiring on Wednesday.

U.S. companies added 230,000 jobs in October, payroll processer ADP said Wednesday. That's the most in four months and a sign that businesses are still willing to hire despite signs of slowing growth overseas. The report could indicate a healthy gain in the government's monthly report on jobs due out Friday.

In oil trading, Benchmark U.S. crude rose for the first time in five days, climbing $1.49 to $78.68 a barrel on a smaller-than-expected increase in overall U.S. oil supplies and a surprise decline in oil supplies at the main U.S. trading hub in Cushing, Oklahoma. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 13 cents to close at $82.95 on the ICE Futures exchange in London.

Devon energy surged $5.60, or 10 percent, to $61.62 after reporting record oil production late Tuesday and saying that its third-quarter earnings more than double to $1.02 billion.

Other winning stocks included a pair of big media companies.

Time Warner jumped after raising its earnings forecast for the year. The company's stock gained $3.02, or 4 percent, to $77.99.

Twenty-First Century Fox said late Tuesday that it earned $1.04 billion in its fiscal first quarter on strong results from its cable networks and movies including "Dawn of the Planet of the Apes" and "The Fault in Our Stars." Its stock rose $1.51, or 4.5 percent, to $34.84.

TripAdvisor was the day's biggest loser. Its stock plunged after the company posted weak quarterly results late Tuesday. The travel website company's shares dropped $11.84, or 14.1 percent, to $71.95.

In currency trading, the dollar rose to 114.74 yen from 113.69 yen late Tuesday. The euro fell to $1.2472 from $1.2548. The yield on the 10-year Treasury note rose was unchanged from Tuesday at 2.34 percent.

The price of gold continued to slide. Gold fell $22, or 1.9 percent, to $1,145.70 an ounce. Silver slid 51 cents, or 3.2 percent, to $15.43 an ounce and copper dropped 1.1 cents, or 0.4 percent, to $3.01 a pound.

In other energy futures trading, wholesale gasoline rose 0.9 cent to close at $2.087 a gallon and heating oil fell 0.4 cent to close at $2.439 a gallon. Natural gas rose for the seventh straight trading day on forecasts for colder weather. Natural gas futures rose 6.5 cents to close at $4.194 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	69.94	points or ▲	0.40%	on	Thursday, 6 November 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,554.47	▲	69.94	▲	0.40%		
	Nasdaq____	4,638.47	▲	17.75	▲	0.38%		
	S&P_500___	2,031.21	▲	7.64	▲	0.38%		
	30_Yr_Bond____	3.09	▲	0.03	▲	0.91%		

NYSE Volume	 3,601,652,000 	 	 	 	 	  		 
Nasdaq Volume	 1,941,815,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,551.15	▲	12.01	▲	0.18%		
	DAX_____	9,377.41	▲	61.93	▲	0.66%		
	CAC_40__	4,227.68	▲	19.26	▲	0.46%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,479.20	▼	-13.60	▼	-0.25%		
	Shanghai_Comp	2,425.86	▲	6.61	▲	0.27%		
	Taiwan_Weight	8,891.02	▼	-71.58	▼	-0.80%		
	Nikkei_225___	16,792.48	▼	-144.84	▼	-0.86%		
	Hang_Seng.__	23,649.31	▼	-46.31	▼	-0.20%		
	Strait_Times.__	3,290.96	▲	3.30	▲	0.10%		
	NZX_50_Index_	5,403.61	▲	1.46	▲	0.03%		

http://finance.yahoo.com/news/asia-stocks-waver-ahead-us-jobs-report-081026771.html

*Dow, S&P 500 step further into record territory*
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) ”” Solid profits for big companies and optimistic economic news helped nudge the stock market to another record high Thursday.

In European markets, losses turned to gains when the head of the European Central Bank said he was ready to take more steps to revive the region's struggling economy. The news knocked the euro to a two-year low against the dollar.

Whole Foods Market jumped 12 percent, the biggest gain in the Standard & Poor's 500 index, after reporting higher quarterly earnings than analysts had expected. Whole Foods climbed $4.33 to end the day at $44.34.

"The news is encouraging today," said David Joy, chief market strategist at Ameriprise Financial. "It's especially nice to see the European Central Bank saying the right things."

The S&P 500 edged up 7.64 points, or 0.4 percent, to close at 2,031.21. That put the benchmark index for most mutual funds up 0.7 percent for the week.

The Dow Jones industrial average rose 69.94 points, or 0.4 percent, to 17,554.47, while the Nasdaq composite gained 17.75 points, also 0.4 percent, to 4,638.47.

Stronger earnings results from Caterpillar, Microsoft and other corporate giants have helped push the market higher over recent weeks. Third-quarter earnings for S&P 500 companies are on track to rise nearly 9 percent, according to S&P Capital IQ. Before results began to roll in, analysts had estimated earnings would increase 6 percent.

"What's really important about this earnings season is that CEOs are no longer saying, 'We can survive.' They're saying, 'We're expanding our business,'" said JJ Kinahan, TD Ameritrade's chief strategist. "There's a note of optimism we haven't heard in a long time."

After the close of regular trading on Wednesday, Tesla Motors posted results that beat Wall Street's estimates and also reported record deliveries of its flagship sedan, the Model S. Tesla's stock gained $10.25, or 4 percent, to $241.22.

In Europe, Mario Draghi, the head of the European Central Bank, said he would consider more unconventional measures, such as large-scale bond purchases, to pump money into the economy, "if needed." The ECB has come under increasing pressure to provide more support for Europe's recovery and prevent prices from falling. Draghi spoke following the ECB's decision to keep its benchmark interest rate unchanged at 0.05 percent, a record low.

"Draghi has a tendency to cause hysteria in the markets even when he potentially doesn't mean to," said Craig Erlam, market analyst at Alpari. "It only takes the slightest suggestion that further easing is likely, or that (bond-buying) is a possibility, and the markets go wild."

European stock markets turned higher after Draghi's talk. Germany's DAX closed with a gain of 0.7 percent, while the CAC-40 in France gained 0.5 percent. The FTSE 100 index of leading British shares picked up 0.2 percent.

Draghi's comments also helped push the euro lower. The currency fell from $1.252 before he began talking to $1.239, its lowest level since August 2010.

Back in the U.S., government bond prices fell, nudging the yield on the 10-year Treasury note up to 2.37 percent.

In metals trading, gold continued its slump, losing $3.10, or 0.3 percent, to settle at $1,142.60 an ounce. Silver slid 3 cents, or 0.2 percent, to $15.41 an ounce, and copper rose a penny, or 0.3 percent, to $3.02 per pound.

Benchmark U.S. crude oil dipped 77 cents to close at $77.91 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 9 cents to close at $82.86 in London.

In other trading on the NYMEX, wholesale gasoline rose 4.3 cents to close at $2.130 a gallon, heating oil rose 2 cents to close at $2.459 a gallon and natural gas rose 21 cents to close at $4.404 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	19.46	points or ▲	0.11%	on	Friday, 7 November 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,573.93	▲	19.46	▲	0.11%		
	Nasdaq____	4,632.53	▼	-5.94	▼	-0.13%		
	S&P_500___	2,031.92	▲	0.71	▲	0.03%		
	30_Yr_Bond____	3.05	▼	-0.05	▼	-1.52%		

NYSE Volume	 3,453,985,000 	 	 	 	 	  		 
Nasdaq Volume	 1,930,457,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,567.24	▲	16.09	▲	0.25%		
	DAX_____	9,291.83	▼	-85.58	▼	-0.91%		
	CAC_40__	4,189.89	▼	-37.79	▼	-0.89%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,522.10	▲	42.90	▲	0.78%		
	Shanghai_Comp	2,418.17	▼	-7.69	▼	-0.32%		
	Taiwan_Weight	8,912.62	▲	21.60	▲	0.24%		
	Nikkei_225___	16,880.38	▲	87.90	▲	0.52%		
	Hang_Seng.__	23,550.24	▼	-99.07	▼	-0.42%		
	Strait_Times.__	3,286.39	▼	-4.57	▼	-0.14%		
	NZX_50_Index_	5,418.99	▲	15.38	▲	0.28%		

http://finance.yahoo.com/news/asia-stocks-rise-ecb-stimulus-075440506.html

*Dow, S&P 500 eke out gains, set record highs*
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) — An encouraging report on hiring barely fazed the stock market Friday, leaving indexes with the slightest of gains. For investors, good is no longer good enough.

The Labor Department said that U.S. employers added 214,000 jobs to their payrolls in October. That knocked the unemployment rate down to 5.8 percent, the lowest rate since July 2008. But Wall Street wanted more.

"This isn't a bad report by any means," Dan Greenhaus, chief strategist at the brokerage BTIG in New York, wrote in a note to clients. Nine months of employers hiring more than 200,000 workers is obviously an encouraging trend. But he described the 214,000 figure as "certainly disappointing."

The Standard & Poor's 500 index eked out a gain of 0.71 point to end at 2,031.92. The Dow Jones industrial average gained 19.46 points, or 0.1 percent, to 17,573.93. Both indexes closed out the week at record highs.

The Nasdaq composite fell 5.94 points, or 0.1 percent, to 4,632.53.

"The market is priced for perfection right now," said Brad McMillan, chief investment officer for Commonwealth Financial in Waltham, Massachusetts. That's Wall Street slang for a market that's so high it appears investors think everything is going to keep getting better and better. "If it's not fantastic, it disappoints," he explained.

Similarly, bond traders were betting that the government's report would show even stronger hiring last month, said Tom di Galoma, head of rates and credit trading at ED&F Man Capital, a brokerage in New York. So the actual report rattled the normally staid Treasury market, pushing the 10-year yield down to 2.30 percent from 2.39 percent late Thursday. Comments from Janet Yellen, the Federal Reserve Chair, that implied the Fed was in no rush to raise interest rates helped press bond yields down.

In other trading, Humana dropped 7 percent after turning in quarterly results that fell short of forecasts. The health-insurer attributed the sharp drop in earnings to its spending on health care exchanges as well as higher costs for prescription drugs. Humana's stock fell $9.29 to $130.58.

First Solar also turned in third-quarter earnings and sales that missed analysts' targets. The maker of solar panels also pared its forecast for 2014 revenue, and its stock sank $6.12, or 11 percent, to $50.29.

Despite some misses, the third-quarter earnings season has turned out better than predicted. Profits are on course to rise nearly 9 percent for companies in the S&P 500, according to S&P Capital IQ. Before results began to roll in, analysts had forecast a 6 percent increase.

Among other companies in the news, Sears Holdings soared following the retailer's announcement that it may form a real estate investment trust. The plan entails Sears selling up to 300 buildings then leasing them back. The store's stock shot up $10.14, or 31 percent, to $42.81.

In commodities trading, gold rose $27.20 to settle at $1,169.80 an ounce, while silver picked up 3 cents to $15.71 an ounce. Copper added 2 cents to $3.04 per pound.

Oil rose as an improving job market in the U.S. raised expectations for energy demand. Benchmark U.S. crude added 74 cents to close at $78.65 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for oil used by many U.S. refineries, rose 53 cents to close at $83.39 a barrel in London.

Other oil and gas contracts traded higher:

— Wholesale gasoline rose 0.5 cent to close at $2.135 a gallon.

— Heating oil rose 4.1 cents to close at $2.500 a gallon.

— Natural gas rose 0.8 cent to close at $4.412 per 1,000 cubic feet.

7042


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	39.81	points or ▲	0.23%	on	Monday, 10 November 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,613.74	▲	39.81	▲	0.23%		
	Nasdaq____	4,651.62	▲	19.08	▲	0.41%		
	S&P_500___	2,038.26	▲	6.34	▲	0.31%		
	30_Yr_Bond____	3.09	▲	0.04	▲	1.38%		

NYSE Volume	 3,242,784,250 	 	 	 	 	  		 
Nasdaq Volume	 1,778,196,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,611.25	▲	44.01	▲	0.67%		
	DAX_____	9,351.87	▲	60.04	▲	0.65%		
	CAC_40__	4,222.82	▲	32.93	▲	0.79%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,501.40	▼	-20.70	▼	-0.37%		
	Shanghai_Comp	2,473.67	▲	55.50	▲	2.30%		
	Taiwan_Weight	9,049.98	▲	137.36	▲	1.54%		
	Nikkei_225___	16,780.53	▼	-99.85	▼	-0.59%		
	Hang_Seng.__	23,744.70	▲	194.46	▲	0.83%		
	Strait_Times.__	3,301.00	▲	14.61	▲	0.44%		
	NZX_50_Index_	5,470.34	▲	51.35	▲	0.95%		

http://finance.yahoo.com/news/asian-shares-higher-china-us-data-japan-falls-033542062--finance.html
*
US stocks climb to new highs; home builders gain*
Associated Press
By STEVE ROTHWELL 

NEW YORK (AP) ”” For stocks on Monday, the path of least resistance was up.

The Standard & Poor's 500 index and the Dow Jones industrial average both edged up to all-time highs on a day that was light on economic news and company releases.

Toll Brothers, a builder of luxury homes, rose after saying its revenue surged in the most recent reporting period. Dean Foods jumped after the dairy company reported a much smaller loss than expected for its third quarter and projected a profit for the current quarter.

Stocks are trading at record levels, having rebounded following a sharp slump at the beginning of October. Improving company earnings and signs that the U.S. economy remains solid, despite growth lagging overseas, are encouraging stock investors.

"What is there to not like?" said Karyn Cavanaugh, a senior market strategist at Voya Investment Management. "As we head into the end of the year, earnings projections for 2015 are looking strong."

The Standard & Poor's 500 index rose 6.34 points, or 0.3 percent, to 2,038.26. The Dow Jones industrial average gained 39.81 points, or 0.2 percent, to 17,613.74. The Nasdaq composite climbed 19.08 points, or 0.4 percent, to 4,651.62.

About 90 percent of companies in the S&P 500 have reported their third-quarter results, and their earnings are projected to rise at an average rate of 8.9 percent for the period, according to S&P Capital IQ data. That compares with growth of 4.9 percent in the same period a year ago, and 10.4 percent in the second quarter.

Earnings are also forecast to keep growing at a broadly similar pace in coming quarters.

The economy is also providing companies with a sound base. Reports last week showed that U.S. manufacturing continued to expand and hiring remained healthy.

On Monday, health care stocks rose the most of the ten sectors in the index. They climbed almost 1 percent, extending their gains for the year to 22 percent.

Home builders rose after Toll Brothers said that its revenue rose 29 percent in the most recent quarter and average sales prices rose. Toll Brother's stock climbed 73 cents, or 2.3 percent, to $32.95.

Other companies in the industry, including Lennar Corp., PulteGroup and D.R. Horton also rose.

Cable companies were among the day's losers after President Barack Obama said regulators should reclassify the Internet as a public utility.

The president also said that Internet providers shouldn't be allowed to cut deals with online services like Netflix, Amazon or YouTube to prioritize their content. In a statement released by the White House Monday, the president called for an "explicit ban" on such deals.

Time Warner Cable fell $7.10, or 4.9 percent, to $136.50. Comcast fell $2.20, or 4 percent, to $52.95.

Energy companies also resumed their slide as the price of oil dropped again.

The price of oil fell Monday on expectations of continued high OPEC output after the Kuwaiti oil minister predicted no production cut this month and an important field in Libya appeared to be coming back online.

Benchmark U.S. crude fell $1.25 to close at $77.40 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.05 to close at $82.34 on the ICE Futures exchange in London. That's the lowest close for Brent since October 2010.

Stocks, though no longer cheap, are still attractive because of lower returns elsewhere, said Bill Stone, the chief investment strategist for PNC Wealth Management. Bond yields have fallen this year, and rates on cash deposits remain close to zero.

"My baseline is that stocks will continue to chug along," Stone said.

On Monday, bond prices fell, pushing yields higher, though they remain lower than they were at the start of the year.

The yield on the 10-year Treasury edged up to 2.35 percent from 2.30 percent. The yield was at 3 percent at the start of the year.

Later in the week investors will be taking stock of retail company earnings to gain insight into how much American shoppers are spending ahead of the holiday season. Macy's, Nordstrom and Wal-Mart will report their earnings. The government will also release its retail sales data for October on Friday.

The dollar edged higher against the Japanese yen, climbing 0.3 percent to 114.89 yen. Against the euro, the U.S. currency was little changed at $1.2424.

In metals trading, gold fell for the eighth time in nine days, sliding $10, or 0.9 percent, to $1,159.80 an ounce. Silver dropped 4.3 cents, or 0.3 percent, to $15.67 an ounce. Copper fell 1.9 cents, or 0.6 percent, to $3.02 a pound.

In other energy futures trading on the NYMEX:

”” Wholesale gasoline fell 3.4 cents to close at $2.109 a gallon.

”” Heating oil fell 3.1 cents to close at $2.469 a gallon.

”” Natural gas fell 15.7 cents to close at $4.255 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	1.16	points or ▲	0.01%	on	Tuesday, 11 November 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,614.90	▲	1.16	▲	0.01%		
	Nasdaq____	4,660.56	▲	8.94	▲	0.19%		
	S&P_500___	2,039.68	▲	1.42	▲	0.07%		
	30_Yr_Bond____	3.09	▲	0.00	▲	0.13%		

NYSE Volume	 2,932,126,750 	 	 	 	 	  		 
Nasdaq Volume	 1,628,401,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,627.40	▲	16.15	▲	0.24%		
	DAX_____	9,369.03	▲	17.16	▲	0.18%		
	CAC_40__	4,244.10	▲	21.28	▲	0.50%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,494.00	▼	-7.40	▼	-0.13%		
	Shanghai_Comp	2,469.67	▼	-4.00	▼	-0.16%		
	Taiwan_Weight	9,034.14	▼	-15.84	▼	-0.18%		
	Nikkei_225___	17,124.11	▲	343.58	▲	2.05%		
	Hang_Seng.__	23,808.28	▲	63.58	▲	0.27%		
	Strait_Times.__	3,289.74	▼	-11.26	▼	-0.34%		
	NZX_50_Index_	5,490.79	▲	20.45	▲	0.37%		

http://finance.yahoo.com/news/stocks-eke-small-gain-close-214021106.html

*Stocks eke out small gain to close at record

Stocks log small gain to end at record; Homebuilders gain after D.R. Horton's orders jump*
Associated Press
By Steve Rothwell, AP Markets Writer 

NEW YORK (AP) -- The stock market eked out another all-time high on Tuesday, but the gains were slight as investors awaited more news to give them an indication about the strength of the economy.

Homebuilders got a lift after D.R. Horton reported a surge in net orders for the fourth quarter, the second encouraging report from the sector in as many days after Toll Brother reported strong revenue growth Monday. Juniper Networks slumped after the sudden departure of its CEO.

The stock market's climb to record levels is being underpinned by record corporate earnings. As the reporting period for the third quarter winds down, companies have again managed to post strong earnings, allaying investors' concern that slowing growth elsewhere in the world would crimp profits.

"The strengthening economy is definitely there in the earnings," said Jerry Braakman, chief investment officer of First American Trust.

The Standard & Poor's 500 index rose 1.42 points, or 0.1 percent, to 2,039.68. The Dow Jones industrial average climbed 1.16 points, or less than 0.1 percent, to 17,614.90. The Nasdaq composite climbed 8.94, or 0.2 percent, to 4,660.56.

Ninety percent of companies in the S&P 500 have reported their results for the third quarter. Average earnings for companies in the index are now projected to have risen 8.9 percent in the period, according to analysts at S&P Capital IQ. At the start of last month earnings were forecast to grow only 6.7 percent.

Stocks will likely move "sideways to up" for the remainder of the year, said James Liu, Global Market Strategist at J.P. Morgan Funds. Earnings "continue to look good," he said.

While earnings remain strong, the market could face volatility as investors fret about the potential timing of the Federal Reserve's first increase in interest rates since 2006. "That's my largest area of concern," Liu said.

Fed policy makers have ended their most recent bond-buying stimulus program in October and have said that they will keep interest rates low until they are more certain about the economic recovery.

On Tuesday, D.R. Horton was among the day's gainers after the company said that net orders surged 48 percent in its fourth fiscal quarter. The company's stock climbed 52 cents, or 2.2 percent, to $23.95. Other home builders including PulteGroup and Lennar also rose.

Home builders also gained Monday after luxury home builder Toll Brothers said its revenue rose 29 percent in the most recent quarter and average sales prices climbed.

Zoetis, a maker of animal health medicines, surged after reports that activist investor William Ackman had taken a $2 billion stake in the company. The Wall Street Journal reported that Ackman's Pershing Square Capital Management had built the stake together with fellow hedge fund Sachem Head Capital Management. Zoetis rose $3.56, or 9 percent, to $43.72.

Juniper Networks slumped $1.22, or 5.7 percent, to 20.28 after announcing that CEO Shaygan Kheradpir had left the company after less than a year. The company said in a press release that his resignation "follows a review by the board of directors of his leadership and his conduct in connection with a particular negotiation with a customer."

In energy trading, the price of U.S. oil rose Tuesday on expectations of lower domestic supplies but global oil fell to a 4-year low as Libyan production and exports appear closer to reaching the market.

Benchmark U.S. crude rose 54 cents to close at $77.94 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 67 cents to close at $81.67 on the ICE Futures exchange in London.

The dollar rose 0.5 percent to 115.47 yen. The U.S currency weakened against the euro, declining to $1.2476. U.S. government bond trading was closed for Veterans Day.

The price of gold edged up $3.20 to $1,163 an ounce. Silver rose less than a penny to $15.68 an ounce and copper rose a penny to $3.03 a pound.

In other energy futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline rose 0.3 cent to close at $2.104 a gallon.

”” Heating oil closed unchanged at $2.469 a gallon.

”” Natural gas fell 0.8 cent to close at $4.247 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-2.7	points or ▼	-0.02%	on	Wednesday, 12 November 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,612.20	▼	-2.70	▼	-0.02%		
	Nasdaq____	4,675.14	▲	14.58	▲	0.31%		
	S&P_500___	2,038.25	▼	-1.43	▼	-0.07%		
	30_Yr_Bond____	3.08	▼	-0.01	▼	-0.39%		

NYSE Volume	 3,244,640,000 	 	 	 	 	  		 
Nasdaq Volume	 1,733,627,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,611.04	▼	-16.36	▼	-0.25%		
	DAX_____	9,210.96	▼	-158.07	▼	-1.69%		
	CAC_40__	4,179.88	▼	-64.22	▼	-1.51%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,443.00	▼	-51.00	▼	-0.93%		
	Shanghai_Comp	2,494.48	▲	24.80	▲	1.00%		
	Taiwan_Weight	8,918.95	▼	-115.19	▼	-1.28%		
	Nikkei_225___	17,197.05	▲	72.94	▲	0.43%		
	Hang_Seng.__	23,938.18	▲	129.90	▲	0.55%		
	Strait_Times.__	3,283.71	▼	-8.44	▼	-0.26%		
	NZX_50_Index_	5,487.89	▼	-2.90	▼	-0.05%		

http://finance.yahoo.com/news/us-stocks-edge-lower-5-165755082.html

*US stocks edge lower after 5 record highs

US stocks drift lower following 5 days of record highs; Smucker down on weak sales*
Associated Press
By Matthew Craft, AP Business Writer 

NEW YORK (AP) -- Big banks weighed on the stock market Wednesday, tugging major indexes back from record highs.

Regulators from the U.S., Switzerland and the U.K. fined five major banks a total of $3.4 billion for conspiring to manipulate foreign-currency trading. The news drove down bank stocks in Europe and U.S. JPMorgan Chase fell more than 1 percent, the biggest drop in the Dow Jones industrial average.

"The fines from the watchdogs took some of the wind out of the market," said Peter Cardillo, chief market economist at Rockwell Global Capital Management. But a slight dip following five days of record highs "is actually healthy," he said. "That's the sign of a good bull market. Going straight up every day would be reckless."

The Standard & Poor's 500 index slipped 1.43 point, a sliver of a percent, to end at 2,038.25.

The Dow lost 2.70 points to 17,612.20, while the Nasdaq composite rose 14.58 points, or 0.3 percent, to 4,675.13.

On Tuesday, the S&P 500 closed at a record high for the fifth straight day.

Major markets in Europe closed with bigger losses. France's CAC 40 dropped 1.5 percent, while Germany's DAX lost 1.7 percent. Britain's FTSE 100 sank 0.2 percent.

Back in the U.S., J.M. Smucker dropped 4 percent, the worst loss in the S&P 500. The maker of Jif peanut butter, fruit jams, and other products trimmed its full-year profit forecast, saying higher prices for Folgers coffee have hurt sales. J.M. Smucker's stock fell $3.70 to $100.38.

Susquehanna Bancshares soared 33 percent on news that the commercial bank BB&T agreed to buy Susquehanna for roughly $2.5 billion. The deal, which still needs approval from shareholders and regulators, would give BB&T a wide reach across Pennsylvania and the Mid-Atlantic states. Susquehanna Bancshares jumped $3.22 to $13.12. BB&T fell 66 cents, or 2 percent, to $37.67.

In a week light on major economic reports, investors were looking ahead to the government's monthly look on retail sales, due out Friday. Wall Street's economists expect the Commerce Department to say sales inched up 0.2 percent last month. Sales fell in September.

Sam Stovall, chief equity strategist at S&P Capital IQ, said that the upcoming report could reveal some of the benefits from lower gasoline prices. Over the past month, the national average has dropped 29 cents to $2.92 a gallon, the lowest price in four years, according to the American Automobile Association. As a result, money that would have been spent on filling up the gas tank can be used to fill up shopping bags, right in time for the holiday shopping season.

China's Shanghai Composite Index gained 1 percent after Hong Kong scrapped a daily limit on how much yuan residents can buy. Japan's benchmark Nikkei 225 touched a seven-year high and closed with a gain of 0.4 percent.

Prices for U.S. government bonds barely budged, with the yield on the 10-year Treasury note holding tight at 2.36 percent. The bond market was closed Tuesday for Veterans Day.

In the commodity markets, the price of gold lost $3.90 to settle at $1,159.10 an ounce. Silver slid 6 cents to $15.62 an ounce while copper ended unchanged at $3.03 a pound.

The price of crude oil hit a four-year low on more signs of rising supplies. Benchmark U.S. crude lost 76 cents to close at $77.18 a barrel on the New York Mercantile Exchange. Brent crude, an international benchmark used by many U.S. refineries, fell $1.29 cents to close at $80.38 a barrel, also a 4-year low, in London.

In other trading on the NYMEX:

”” Wholesale gasoline rose 0.3 cent to close at $2.107 a gallon.

”” Heating oil fell 2.2 cents to close at $2.447 a gallon.

”” Natural gas fell 6.2 cents to close at $4.185 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	40.59	points or ▲	0.23%	on	Thursday, 13 November 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,652.79	▲	40.59	▲	0.23%		
	Nasdaq____	4,680.14	▲	5.01	▲	0.11%		
	S&P_500___	2,039.33	▲	1.08	▲	0.05%		
	30_Yr_Bond____	3.08	▲	0.00	▼	-0.13%		

NYSE Volume	 3,443,428,000 	 	 	 	 	  		 
Nasdaq Volume	 1,809,753,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,635.45	▲	24.41	▲	0.37%		
	DAX_____	9,248.51	▲	37.55	▲	0.41%		
	CAC_40__	4,187.95	▲	8.07	▲	0.19%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,423.50	▼	-19.50	▼	-0.36%		
	Shanghai_Comp	2,485.61	▼	-8.87	▼	-0.36%		
	Taiwan_Weight	8,980.67	▲	61.72	▲	0.69%		
	Nikkei_225___	17,392.79	▲	195.74	▲	1.14%		
	Hang_Seng.__	24,019.94	▲	81.76	▲	0.34%		
	Strait_Times.__	3,304.93	▲	21.22	▲	0.65%		
	NZX_50_Index_	5,462.74	▼	-25.14	▼	-0.46%		

http://finance.yahoo.com/news/us-stocks-close-higher-dow-215751682.html

*US stocks close higher as Dow Jones hits record

Stocks close higher after flitting between gains and losses for most of day; DreamWorks soars*
Associated Press
By Bernard Condon, AP Business Writer 

NEW YORK (AP) -- Stocks wavered between small gains and losses on Thursday to close little changed as traders weighed generally strong earnings reports against the falling fortunes of energy companies.

Indexes rose from the opening of trading following encouraging quarterly results from Wal-Mart Stores and the media giant Viacom, then flitted up and down most of the day. After four weeks of healthy gains for stocks and a series of record daily closes, the tepid trading was not unexpected.

"After a move higher so far, so fast, the market needs a pause," said Quincy Krosby, a market strategist at Prudential Financial. "We need another catalyst to move higher."

All three major U.S. indexes closed higher after a late-afternoon rally. The Dow Jones industrial average rose 40.59 points, or 0.2 percent, to 17,652.79, a record. It was the seventh record close for the blue-chip index in eight trading days.

The Standard & Poor's 500 index rose 1.08 points, or less than a tenth of a percentage point, to 2,039.33. The Nasdaq composite rose 5.01 points, or 0.1 percent, to 4,680.14.

A slump in the energy sector held back the overall market as oil prices continued to slump over fears that supplies will outstrip demand. Benchmark U.S. crude lost 4 percent and is trading at a four-year low.

Energy stocks closed down 1.4 percent, after being off more 2 percent earlier in the day.

Energy company shares trimmed their losses after a late-day report from the Wall Street Journal that Halliburton is in talks to buy rival oil-field service company, Baker Hughes, citing unnamed sources. Baker Hughes soared $7.77, or 15 percent, to $58.75.

In other deal news, DreamWorks jumped 14 percent on a New York Times report that the toy maker Hasbro is trying to buy the movie studio. And Berkshire Hathaway, run by billionaire Warren Buffett, said it was buying the Duracell battery business from Procter & Gamble in a deal valued at about $3 billion.

Jim Russell, a portfolio manager at Bahl & Gaynor, an investment firm, said the deal making helped keep stocks positive for the day.

"It's another source of demand for stocks, and presumably from smart buyers," he said. "It's lent some optimism to the market."

Among other stocks making big moves:

— Wal-Mart jumped $3.74 to $82.94 after reporting earnings and revenue that were higher than financial analysts had expected. The 4.7 percent gain was the biggest in the Dow.

— Viacom, which owns the Paramount studio, MTV and VH1, rose $1.95, or 2.8 percent, to $71.20 after its results topped forecasts.

— Amazon rose 1.6 percent following news that it had resolved a bitter, long-running dispute with the book publisher Hachette. Amazon stock gained $4.97 to $316.48.

Benchmark U.S. crude fell $2.97 to close at $74.21 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $2.46 to close at $77.92 a barrel, also a 4-year low, on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX:

— Wholesale gasoline fell 10.5 cents to close at $2.002 a gallon.

— Heating oil fell 8.5 cents to close at $2.362 a gallon.

— Natural gas fell 20.8 cents to close at $3.977 per 1,000 cubic feet.

In metals trading, the price of gold edged up $2.40 to $1,161.50 an ounce. Silver was flat at $15.62 an ounce and copper fell three cents to $2.99 a pound.

U.S. government bond prices rose slightly. The yield on the 10-year Treasury note slipped to 2.34 percent from 2.36 percent on Wednesday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-18.05	points or ▼	-0.10%	on	Friday, 14 November 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,634.74	▼	-18.05	▼	-0.10%		
	Nasdaq____	4,688.54	▲	8.40	▲	0.18%		
	S&P_500___	2,039.82	▲	0.49	▲	0.02%		
	30_Yr_Bond____	3.04	▼	-0.03	▼	-1.11%		

NYSE Volume	 3,201,993,500 	 	 	 	 	  		 
Nasdaq Volume	 1,733,632,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,654.37	▲	18.92	▲	0.29%		
	DAX_____	9,252.94	▲	4.43	▲	0.05%		
	CAC_40__	4,202.46	▲	14.51	▲	0.35%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,433.80	▲	10.30	▲	0.19%		
	Shanghai_Comp	2,478.82	▼	-6.78	▼	-0.27%		
	Taiwan_Weight	8,982.88	▲	2.21	▲	0.02%		
	Nikkei_225___	17,490.83	▲	98.04	▲	0.56%		
	Hang_Seng.__	24,087.38	▲	67.44	▲	0.28%		
	Strait_Times.__	3,315.67	▲	10.74	▲	0.32%		
	NZX_50_Index_	5,484.00	▲	21.25	▲	0.39%		

http://finance.yahoo.com/news/stocks-end-mostly-gains-extend-214705483.html

*Stocks end mostly up as gains extend into 4th week

US stocks end mostly higher as gains extend into 4th week; Virgin America soars in debut*
Associated Press
By Bernard Condon, AP Business Writer

NEW YORK (AP) -- Stocks ended mostly higher on Friday as major indexes extended gains for a fourth week in a row, a rare stretch for this year.

After flitting between tiny gains and losses for most of the day, the Standard and Poor's 500 index rose just two-hundredths of one percent to close at a record high. The Dow Jones industrial average ended slightly lower, but the losses were limited by a gain in energy shares, which have been falling sharply in recent months as oil prices drop.

As of Friday, the S&P 500 is up 10 percent so far this year.

"The market has continued to surprise me with its strength," said Uri Landesman, president of Platinum Partners, an investment fund in New York. "It's been almost a six-year party ... and it takes a lot to upset that momentum."

The S&P 500 rose 0.49 points to 2,039.82. The Dow slipped 18.05 points, or 0.1 percent, to 17,634.74. The Nasdaq composite rose 8.4 points, or 0.2 percent, to 4,688.54.

Stocks have been mostly rising since Oct. 15, when the S&P 500 nearly fell into a "correction," a trading term for a drop of 10 percent or more from a recent peak. Generally strong corporate earnings results and solid U.S. economic data have lifted shares sharply since then.

On Friday, investors got more good economic news. The Commerce Department reported that retail sales rose 0.3 percent in October after a drop in September. The reversal, though modest, was interpreted by some market experts as evidence that recent job gains and lower gas prices are lifting spirits as the holiday shopping season begins.

"American consumers are starting to spend again," said John Manley, chief stock strategist at Wells Fargo Funds, which manages $250 billion. "More people are working ... and that makes us a little freer at the cash registers."

Six of the S&P 500 index's 10 industry sectors rose for day, led by an 0.8 percent gain in energy shares. Energy stocks had fallen 10 percent in three months as the price of crude plummeted to a four-year low.

Among the highlights of the day, Virgin America, an airline backed by billionaire Richard Branson, soared 30 percent in its initial public offering.

For the week, the S&P 500 and the Dow closed up about a third of percentage point, their fourth week of gains. The only better performance this year was a five-week run started in early August.

Among stocks making moves:

— Nordstrom rose 92 cents, or 1.3 percent, to $74.17 after the high-end retailer reporting earnings that topped financial analysts' expectations.

— Hertz Global Holdings sank 5 percent after announcing it needs to restate its financial results for 2012 and 2013. The car-rental company fell $1.404 to $21.69.

The price of oil posted its biggest gain in two months on concerns over Libyan output and strong retail sales in the U.S. that raised expectations for demand. Benchmark U.S. crude rose $1.61 to close at $75.82 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $1.92 to $79.41 on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX:

— Wholesale gasoline rose 4.1 cents to close at $2.043 a gallon.

— Heating oil rose 5.4 cents to close at $2.416 a gallon.

— Natural gas rose 4.3 cents to close at $4.022 per 1,000 cubic feet.

The price of U.S. government bonds rose slightly. The yield on the 10-year Treasury note slipped to 2.32 percent from 2.34 percent on Thursday. The yield was at 3 percent at the start of the year. Yields move in the opposite direction to the price.

The price of gold rose $24.10, or 2.1 percent, to $1,185.60 an ounce. Silver rose 69 cents, or 4.4 percent, to $16.31 an ounce and copper rose five cents, or 1.7 percent, to $3.05 a pound.

7511


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	13.01	points or ▲	0.07%	on	Monday, 17 November 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,647.75	▲	13.01	▲	0.07%		
	Nasdaq____	4,671.00	▼	-17.54	▼	-0.37%		
	S&P_500___	2,041.32	▲	1.50	▲	0.07%		
	30_Yr_Bond____	3.06	▲	0.02	▲	0.56%		

NYSE Volume	 3,119,697,250 	 	 	 	 	  		 
Nasdaq Volume	 1,652,274,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,671.97	▲	17.60	▲	0.26%		
	DAX_____	9,306.35	▲	53.41	▲	0.58%		
	CAC_40__	4,226.10	▲	23.64	▲	0.56%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,396.60	▼	-37.20	▼	-0.68%		
	Shanghai_Comp	2,474.01	▼	-4.82	▼	-0.19%		
	Taiwan_Weight	8,884.39	▼	-98.49	▼	-1.10%		
	Nikkei_225___	16,973.80	▼	-517.03	▼	-2.96%		
	Hang_Seng.__	23,797.08	▼	-290.30	▼	-1.21%		
	Strait_Times.__	3,287.85	▼	-27.82	▼	-0.84%		
	NZX_50_Index_	5,484.00	▲	21.25	▲	0.39%		

http://finance.yahoo.com/news/p-500-ekes-record-dreamworks-215419022.html

*S&P 500 ekes out record; DreamWorks sinks

S&P 500 index manages a tiny gain, enough to set a record high; DreamWorks Animation sinks*
Associated Press
By Alex Veiga, AP Business Writer

Despite a day of mostly listless trading, the Standard & Poor's 500 index managed to notch another all-time high.

The index on Monday inched past its most recent record-high close set on Friday, extending its gain for the year to 10.4 percent. The Dow Jones industrial average also ended higher after briefly eclipsing its most recent high. The Nasdaq composite ended lower.

The latest milestone for the S&P 500 came on a day when the major U.S. stock indexes mostly hovered between small gains and losses as investors weighed the implications of an economic slowdown in Japan that worsened in the third quarter into a recession. Energy stocks fell as the price of crude oil resumed its slide.

"Japan definitely started us on a bit of a negative tone with the economy back into recession," said Chris Gaffney, senior market strategist at EverBank Wealth Management.

The major stock indexes started off in negative territory early Monday as the markets reacted to data showing the world's third-largest economy unexpectedly shrank at a 1.6 percent annual pace in the third quarter after contracting 7.1 percent the previous quarter.

Tokyo's benchmark Nikkei stock index lost 3 percent.

U.S. markets veered lower much of the morning. By afternoon, though, stocks began to pare some their losses as traders cheered several pieces of corporate deal news.

Shares in Botox-maker Allergan and oilfield services company Baker Hughes were among the biggest gainers.

In the end, the S&P rose 1.50 points, or 0.1 percent, to 2,041.32. That's just ahead of its previous all-time high close of 2,039.82 on Friday.

The Dow gained 13.01 points, or 0.1 percent, to 17,647.75. The Nasdaq composite fell 17.54 points, or 0.4 percent, to 4,671.

The three major stock indexes are up for the year.

Stocks have been mostly rising since Oct. 15, when the S&P 500 nearly fell into a "correction," a trading term for a drop of 10 percent or more from a recent peak.

Generally strong corporate earnings results and solid U.S. economic data have helped blunt the impact of global economic uncertainty.

News that Japan is in a recession stoked those fears once again, but the impact on the market was tempered, given the day's narrow trading range, noted Sean Lynch, managing director of global equity research and strategy for Wells Fargo Private Bank.

"The U.S. economy is a consumption-driven economy," Lynch said. "The U.S. is in pretty good footing here as we head into the last month of the year."

Six of the 10 sectors in the S&P 500 ended lower, with energy stocks falling most. The sector is down 3.8 percent this year, and is the only one in the red for 2014. Utilities rose the most.

Concerns over the global economy were dominant in the oil markets. Benchmark U.S. crude fell 18 cents to $75.64 a barrel in New York.

The yield on the 10-year U.S. Treasury note rose to 2.34 percent from 2.32 percent late Friday.

In commodities trading, the price of gold slipped $2.10 to $1,183.50 an ounce, silver fell 26 cents to $16.06 an ounce and copper edged down a penny to $3.04 a pound.

Among stocks making big moves Monday:

”” Pharmaceutical giant Actavis agreed to buy Allergan for $66 billion. Allergan shares surged 5.3 percent, gaining $10.55 to $209.20. Actavis added $4.17, or 1.7 percent, to $247.94.

”” Baker Hughes jumped 8.9 percent on news it has agreed to be acquired by rival Halliburton in a deal worth $34.6 billion in cash and stock. Baker Hughes rose $5.34 to $65.23. Halliburton fell $5.85, or 10.6 percent, to $49.23.

”” DreamWorks Animation slid 14.3 percent following a media report over the weekend that talks between the animation studio and toy maker Hasbro have faded, dimming the likelihood that Hasbro will buy the studio known for movies such as "Shrek" and "Kung Fu Panda." DreamWorks fell $3.71 to $22.31. Shares in Hasbro rose $2.35, or 4.4 percent, to $56.37.

In other energy trading, Brent crude, the international benchmark, fell 10 cents to $79.31. Oil fell initially following news that Japan's economy had unexpectedly slipped back into recession.

Meanwhile, natural gas soared on forecasts of below-normal temperatures in the Midwest and the eastern U.S. Natural gas rose 32 cents, or 8 percent, to $4.341 per 1,000 cubic feet. Wholesale gasoline lost 1.6 cents to $2.026 a gallon and heating oil dropped 1.2 cents to $2.404 a gallon


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	40.07	points or ▲	0.23%	on	Tuesday, 18 November 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,687.82	▲	40.07	▲	0.23%		
	Nasdaq____	4,702.44	▲	31.44	▲	0.67%		
	S&P_500___	2,051.80	▲	10.48	▲	0.51%		
	30_Yr_Bond____	3.04	▼	-0.02	▼	-0.52%		

NYSE Volume	 3,393,198,500 	 	 	 	 	  		 
Nasdaq Volume	 1,623,263,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,709.13	▲	37.16	▲	0.56%		
	DAX_____	9,456.53	▲	150.18	▲	1.61%		
	CAC_40__	4,262.38	▲	36.28	▲	0.86%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,383.10	▼	-13.50	▼	-0.25%		
	Shanghai_Comp	2,456.37	▼	-17.64	▼	-0.71%		
	Taiwan_Weight	8,859.07	▼	-25.32	▼	-0.28%		
	Nikkei_225___	17,344.06	▲	370.26	▲	2.18%		
	Hang_Seng.__	23,529.17	▼	-267.91	▼	-1.13%		
	Strait_Times.__	3,313.73	▲	25.06	▲	0.76%		
	NZX_50_Index_	5,505.03	▲	14.80	▲	0.27%		

http://finance.yahoo.com/news/us-index-notch-latest-records-211434995.html

*US index notch latest records; Relief over Japan

Dow, S&P 500 mark latest record highs; Relief over better news from Japan and Germany*
Associated Press
By Alex Veiga, AP Business Writer

Investors remained in a record-setting mood Tuesday, edging the Dow Jones industrial average and Standard & Poor's 500 index to their latest all-time highs.

Pharmaceutical and medical equipment companies led the broad pickup in stocks, extending gains for the S&P 500 and Dow. The Nasdaq notched its first gain this week.

A positive outlook from homebuilders and encouraging news from Japan and Germany also helped lift markets.

The rally builds on a market rebound in recent weeks powered by strong corporate earnings and easing concerns among investors about the spread of Ebola and economic growth overseas.

"We've gotten good news on all of the worries since mid-October and we had much better-than-expected earnings," said Kate Warne, an investment strategist at Edward Jones. "As a result, it's not surprising we're seeing a series of record highs."

The major stock indexes opened flat on Monday, but quickly began to rise.

Germany's ZEW measure of investor sentiment showed an improvement in November after 10 months of declines, allaying worries about a slowing economy and lifting European markets.

Developments in Japan, whose economy slipped into recession in the third quarter, provided some relief.

Tokyo's benchmark Nikkei index rose 2.2 percent amid expectations, later confirmed, that Japan's government will delay a sales tax hike that was planned for next year.

U.S. stocks also got a boost from an increase in a measure of U.S. homebuilders' confidence, which rebounded in November as both sales expectations and buyer traffic improved.

The indexes continued to build on their gains throughout the day as investors piled into health care stocks. Pharmaceutical giant Actavis led all stocks in the S&P 500, vaulting 8.7 percent. Medical device maker Medtronic climbed 3.3 percent.

The energy sector lagged the rest of the market as the price of oil resumed its slide.

All told, the S&P 500 index added 10.48 points, or 0.5 percent, to 2,051.80. Its previous closing high was set Monday.

The Dow rose 40.07 points, or 0.2 percent, to 17,687.82. That's just 0.2 percent higher than its most recent record close last Thursday.

The Nasdaq composite gained 31.44 points, or 0.7 percent, to 4,702.44.

Nine of the 10 sectors in the S&P 500 notched gains, led by health care stocks. The sector is up 23.5 percent this year. Telecommunications stocks declined.

On Oct. 15 the S&P 500 nearly fell into a "correction," a trading term for a drop of 10 percent or more from a recent peak. The market has mostly risen since then.

The rise in Actavis came a day after the company agreed to buy Botox-maker Allergan for $66 billion. Actavis rose $21.66 to $269.60.

"Actavis is up strong, so that suggests it's a better take on the merger deal, as people get more into the details of it," said Warne.

Medtronic shares ended up $3.28 at $72.47.

Investors kept rewarding strong company earnings.

Solar power products company JA Solar jumped 8.8 percent after it reported better-than-expected quarterly financial results. The stock added 69 cents to $8.49.

Some companies' quarterly report cards failed to impress investors.

Urban Outfitters fell 6.6 percent a day after the retailer reported third-quarter results that fell short of Wall Street's expectations. The stock shed $2.04 to $28.79.

Home Depot's third-quarter profit rose 14 percent, but the company said it could not account for all possible losses from a huge data breach it revealed in September. Shares in the nation's largest home improvement retailer fell $2.05, or 2.1 percent, to $95.98.

With the bulk of earnings season over, investors are looking ahead to how companies will fare this holiday season.

"The broad equity market is in holiday mode," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. "I don't see the market moving meaningfully higher or lower in the near term until we get greater visibility on what consumers are going to do in the holiday season."

Market watchers anticipate the slide in gas prices will prompt consumers to spend more in coming weeks. The average price of gasoline in the U.S fell to $2.89 this week, 33 cents below prior-year levels.

"That's a meaningful dip," Sandven said.

The price of oil fell on mounting evidence of a slower global economy and doubts that OPEC will decide to cut output when it meets next week.

Benchmark U.S. crude fell $1.03 to close at $74.61 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 84 cents to close at $78.47 on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX:

”” Wholesale gasoline rose 1.7 cents to close at $2.043 a gallon

”” Heating oil fell 2.3 cents to close at $2.381 a gallon.

”” Natural gas fell 9.7 cents to close at $4.244 per 1,000 cubic feet.

Gold rose $13.60 to $1,197.10 an ounce, silver rose 12 cents to $16.17 an ounce and copper fell four cents to $3 a pound.

The yield on the 10-year U.S. Treasury note slipped to 2.32 percent from 2.34 percent late Monday.

Among stocks making big moves Tuesday:

”” Nokia rose 26 cents, or 3.4 percent, to $7.93 on news that the company plans to launch a tablet computer next year that will run on the Android operating system.

”” SunEdison surged 29.3 percent after the solar energy company agreed to buy wind energy company First Wind for more than $1.9 billion. SunEdison gained $4.87 to $21.48.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-2.09	points or ▼	-0.01%	on	Wednesday, 19 November 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,685.73	▼	-2.09	▼	-0.01%		
	Nasdaq____	4,675.71	▼	-26.73	▼	-0.57%		
	S&P_500___	2,048.72	▼	-3.08	▼	-0.15%		
	30_Yr_Bond____	3.07	▲	0.02	▲	0.79%		

NYSE Volume	 3,393,917,000 	 	 	 	 	  		 
Nasdaq Volume	 1,601,537,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,696.60	▼	-12.53	▼	-0.19%		
	DAX_____	9,472.80	▲	16.27	▲	0.17%		
	CAC_40__	4,266.19	▲	3.81	▲	0.09%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,352.50	▼	-30.60	▼	-0.57%		
	Shanghai_Comp	2,450.99	▼	-5.38	▼	-0.22%		
	Taiwan_Weight	8,963.24	▲	104.17	▲	1.18%		
	Nikkei_225___	17,288.75	▼	-55.31	▼	-0.32%		
	Hang_Seng.__	23,373.31	▼	-155.86	▼	-0.66%		
	Strait_Times.__	3,334.56	▲	20.83	▲	0.63%		
	NZX_50_Index_	5,522.06	▲	17.03	▲	0.31%		

http://finance.yahoo.com/news/asia-stocks-down-china-property-japan-weighed-072524897--finance.html

*US stocks drift lower after release of Fed minutes*
Associated Press
By ALEX VEIGA

U.S. financial markets pulled back slightly from their most recent record highs Wednesday, ending lower for the first time this week.

The Dow Jones industrial average and Standard & Poor's 500 index mostly hovered slightly below the all-time high closes set a day earlier.

Investors sifted through a batch of favorable corporate earnings as they waited for the Federal Reserve to publish the minutes from its late-October policy meeting.

Traders hoped to glean fresh insight into when the central bank will raise a benchmark interest rate that affects many consumer and business loans.

In the end, the deeper look at the Fed's deliberation didn't sway trading meaningfully.

"This does not move the needle a whole bunch," said John Canally, Chief Economic Strategist for LPL Financial. "The minutes confirm that the Fed remains on track to hike rates about a year from now based on the economy tracking to their forecasts."

The slide in oil prices continued, despite pivoting upward at times during the day. U.S. government bond prices fell.

All told, the S&P 500 index slipped 3.08 points, or 0.2 percent, to 2,048.72.

The Dow fell 2.09 points, or 0.01 percent, to 17,685.73.

The Nasdaq composite shed 26.73 points, or 0.6 percent, to 4,675.71.

Seven of the 10 sectors in the S&P 500 declined, with telecommunications stocks dropping the most. Energy stocks managed the biggest gain.

Avon Products led the index's decliners, sliding 47 cents, or 4.7 percent, to $9.43.

Interest rates tend to increase when the economy is growing and adding jobs, trends that are good for corporate profits. When rates remain low, however, they tend to make stocks more attractive in comparison with bonds.

During its Oct. 28-29 policy meeting, the Fed reaffirmed that it expected to keep a key short-term interest rate low for a "considerable time."

The minutes released Wednesday showed that the Fed decided not to alter its wording on the timing of any interest rate increases. Fed officials worried that a change could be misinterpreted by financial markets.

Most economists predict that the Fed won't raise rates before June.

"The market's reaction is a reasonable one; no bombshells here," said Erik Davidson, deputy chief investment officer of Wells Fargo Private Bank. "The free short-term money that's out there will continue to be positive for the stock market."

Apart from the Fed action, investors had their eye on quarterly earnings from several retailers.

Lowe's reported better-than-expected third-quarter earnings, helped by a nascent recovery in the housing market. The home improvement retailer also raised its full-year forecast. The stock rose $3.73, or 6.4 percent, to $62.26.

Target also reported third-quarter earnings that exceeded Wall Street's expectations, rebounding from a massive data breach just before Christmas last year. Its shares gained $4.99, or 7.4 percent, to $72.50.

Investors also bid up shares in Staples, which reported higher fiscal third-quarter earnings late Wednesday. The office supply chain surged $1.16, or 9.1 percent, to $13.92.

The price of oil finished nearly unchanged as hopes for an OPEC production cut offset an Energy Department report showing that crude inventories increased far more than expected last week.

Benchmark U.S. crude fell 3 cents to close at $74.58 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 37 cents to close at $78.10 on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX:

”” Wholesale gasoline rose 0.1 cent to close at $2.044 a gallon

”” Heating oil fell 2.2 cents to close at $2.359 a gallon.

”” Natural gas rose 12.7 cents to close at $4.371 per 1,000 cubic feet.

In metals trading, the price of gold fell $3.20 to $1,193.90 an ounce, silver rose 12 cents to $16.29 an ounce and copper rose four cents to $3.05 a pound.

The yield on the 10-year Treasury note rose to 2.35 percent from 2.32 percent late Tuesday.

Among the stocks making big moves Wednesday:

”” Cliffs Natural Resources sank 20 percent on news that the mining company is seeking to exit its Eastern Canadian iron ore operations, including the Bloom Lake mine. The stock fell $2.04 to $8.17.

”” Oplink Communications jumped 13.8 percent after the optical networking equipment company said it will be acquired by Koch Industries in an all-cash deal worth $445 million. Oplink shares rose $2.93 to $24.18.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	33.27	points or ▲	0.19%	on	Thursday, 20 November 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,719.00	▲	33.27	▲	0.19%		
	Nasdaq____	4,701.87	▲	26.16	▲	0.56%		
	S&P_500___	2,052.75	▲	4.03	▲	0.20%		
	30_Yr_Bond____	3.05	▼	-0.01	▼	-0.46%		

NYSE Volume	 3,106,287,250 	 	 	 	 	  		 
Nasdaq Volume	 1,633,390,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,678.90	▼	-17.70	▼	-0.26%		
	DAX_____	9,483.97	▲	11.17	▲	0.12%		
	CAC_40__	4,234.21	▼	-31.98	▼	-0.75%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,302.50	▼	-50.00	▼	-0.93%		
	Shanghai_Comp	2,452.66	▲	1.67	▲	0.07%		
	Taiwan_Weight	9,078.87	▲	115.63	▲	1.29%		
	Nikkei_225___	17,300.86	▲	12.11	▲	0.07%		
	Hang_Seng.__	23,349.64	▼	-23.67	▼	-0.10%		
	Strait_Times.__	3,315.60	▼	-18.96	▼	-0.57%		
	NZX_50_Index_	5,526.95	▲	4.89	▲	0.09%		

http://finance.yahoo.com/news/asia-stocks-dragged-down-weak-manufacturing-052132177--finance.html

*Dow, S&P 500 edge back up to record highs*
Associated Press
By ALEX VEIGA 

U.S. stocks rebounded Thursday, sending the Dow Jones industrial average and Standard & Poor's 500 index back into record territory.

It was the second record-high close for the Dow this week and the third for the S&P 500. The modest gains erased losses from the day before, pushing the three major stock indexes further ahead for the week.

Good news on housing, the job market and another dash of strong corporate earnings helped drive stocks higher, reversing a decline earlier in the day. Energy stocks led the gainers in the S&P 500 as oil prices rose.

Discouraging economic data out of Europe and China stoked worries of a global economic slowdown and sent stocks lower in early trading. But investors shrugged off those concerns, reassured by a batch of positive U.S. economic reports.

"Housing was good, leading indicators were good, manufacturing was good," said Doug Cote, chief market strategist at Voya Investment Management.

Traders also drew encouragement from retailers including Best Buy, Dollar Tree and Kirkland's, which reported better-than-expected earnings. Third-quarter earnings for companies in the S&P 500 are at an all-time high.

"That's a signal for investors that the fundamentals are solid behind this market," Cote said.

In the end, the S&P 500 index rose 4.03 points, or 0.2 percent, to 2,052.75. That's just above the index's previous record-high close on Tuesday at 2,051.80. The S&P 500 is up 11.1 percent this year.

The Dow gained 33.27 points, or 0.2 percent, to 17,719. That's up from its last record-high close of 17,687.82 on Tuesday. The Dow is up 6.9 percent this year.

The Nasdaq composite added 26.16 points, or 0.6 percent, to 4,701.87. The tech-heavy index is up 12.6 percent this year.

The major stock indexes were moving lower early Thursday, then spent much of the morning drifting between tiny gains and losses. They turned higher around midmorning, as the market digested the news on housing.

Sales of previously occupied homes increased in October on an annual basis for the first time this year, according to the National Association of Realtors. The report helped lift the stock prices of many homebuilders. William Lyon Homes led the gainers, adding 97 cents, or 5 percent, to $20.23.

Meanwhile, the Labor Department said applications for unemployment benefits fell slightly last week to a seasonally adjusted 291,000. The applications, which are a proxy for layoffs, have fallen 16 percent in the past 12 months.

Also on Thursday, the Federal Reserve Bank of Philadelphia said its regional manufacturing index rose to the highest level since 1993, adding to other recent evidence that U.S. manufacturing is expanding modestly and helping boost economic growth.

That data offset worries over the 18-country eurozone, where a broad gauge of business activity fell this month to a 16-month low. In China, a preliminary survey showed manufacturing in the world's second-largest economy slid to a six-month low this month.

While a concern, the global economic picture has taken a back seat to corporate earnings and the improving job market and economy in the U.S. and emerging markets.

"We're coming off an earnings season that has been very strong, with 80 percent of companies beating on the top line and around 55 percent beating on the bottom line," noted Tony Roth, chief investment officer at Wilmington Trust.

Investors bid up several retailers that reported strong earnings Thursday.

Best Buy jumped $2.48, or 7 percent, to $38.02, while discounter Dollar Tree gained $3.24, or 5.2 percent, to $65.87. Home decorations chain Kirkland's climbed $4.44, or 24.5 percent, to $22.53.

Six of the 10 sectors in the S&P 500 index ended higher, led by energy stocks. The telecommunications sector fell the most. Among individual stocks, Keurig Green Mountain fell the most, declining $11.45, or 7.4 percent, to $142.50.

Benchmark U.S. crude rose $1 to $75.58 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $1.23 to $79.33 on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX, wholesale gasoline fell 1.6 cents to close at $2.028 a gallon, heating oil rose 2.1 cents to close at $2.38 a gallon and natural gas rose 11.8 cents to close at $4.489 per 1,000 cubic feet.

Gold fell $3 to $1,190.90 an ounce, silver fell 16 cents to $16.14 an ounce and copper fell three cents to $3.02 a pound.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.34 percent from 2.36 percent late Wednesday.

Among other stocks making big moves:

”” Activision Blizzard vaulted 7.9 percent on news that the videogame maker reached a settlement with Vivendi and others in a shareholder lawsuit and will receive $275 million. Activision rose $1.54 to $21.11.

”” Caesars Entertainment is considering a plan to turn its most debt-heavy division into a real estate investment trust. Shares in the casino and resort operator rose 77 cents, or 5.4 percent, to $15.14.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	91.06	points or ▲	0.51%	on	Friday, 21 November 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,810.06	▲	91.06	▲	0.51%		
	Nasdaq____	4,712.97	▲	11.10	▲	0.24%		
	S&P_500___	2,063.50	▲	10.75	▲	0.52%		
	30_Yr_Bond____	3.02	▼	-0.03	▼	-1.05%		

NYSE Volume	 3,870,290,500 	 	 	 	 	  		 
Nasdaq Volume	 1,814,758,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,750.76	▲	71.86	▲	1.08%		
	DAX_____	9,732.55	▲	248.58	▲	2.62%		
	CAC_40__	4,347.23	▲	113.02	▲	2.67%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,292.10	▼	-10.40	▼	-0.20%		
	Shanghai_Comp	2,486.79	▲	34.13	▲	1.39%		
	Taiwan_Weight	9,091.53	▲	12.66	▲	0.14%		
	Nikkei_225___	17,357.51	▲	56.65	▲	0.33%		
	Hang_Seng.__	23,437.12	▲	87.48	▲	0.37%		
	Strait_Times.__	3,345.32	▲	29.72	▲	0.90%		
	NZX_50_Index_	5,495.81	▼	-31.14	▼	-0.56%		

http://finance.yahoo.com/news/asian-stock-markets-turn-higher-yen-rises-063516010.html

*Dow, S&P 500 push further into record territory*
Associated Press
By ALEX VEIGA

U.S. stocks capped a week that already had several record highs by delivering a couple more.

The Dow Jones industrial average and Standard & Poor's 500 index carved out all-time highs on Friday, extending the market's gains for the week. It was the third record close for the Dow in the week and the fourth for the S&P 500.

The latest records extended a comeback in the S&P 500, which has increased 11 percent since plunging in mid-October.

Investors on Friday cheered news of an interest rate cut in China and the possibility that Europe's central bank will step up stimulus efforts in the region.

"What it suggests is that these central banks are prepared to do even more to stimulate growth, to stimulate demand, and that always equates to better stock markets," said Quincy Krosby, a market strategist at Prudential Financial.

All 10 sectors in the S&P 500 index rose, with materials stocks climbing the most. The sector is up 9 percent this year.

Energy stocks were among the big gainers, getting a boost from a rebound in oil prices. Some traders anticipated that OPEC will decide to cut production at a conference next week.

Ross Stores led the gains in the S&P 500, adding $6.09, or 7.3 percent, to $89.30.

All told, the S&P 500 index rose 10.75 points, or 0.5 percent, to 2,063.50. That's just above the index's previous high close a day before at 2,052.75. The S&P 500 is up 11.6 percent this year.

The Dow gained 91.06 points, or 0.5 percent, to 17,810.06. That's up from its last record close of 17,719 on Thursday. The Dow as gained 7.4 percent this year.

The Nasdaq composite added 11.10 points, or 0.2 percent, to 4,712.97. The index is up 12.8 percent for the year.

A strong third-quarter earnings season, on top of a recent string of positive U.S. economic data on housing, jobs and manufacturing, have helped put investors in a buying mood.

The prospect of central banks outside the U.S. ramping up their own stimulus efforts is seen as another positive for stock investors, particularly with the Federal Reserve winding down its massive bond-buying program this year.

"Central bank intervention is the No. 1 thing investors worldwide are looking at right now," said Mike Serio, regional chief investment officer at Wells Fargo Private Bank. "In the short run, that looks pretty good for stocks."

On Friday, China's central bank lowered the interest rate on its one-year loans to financial institutions by 0.4 percentage points to 5.6 percent. The surprise cut came in the wake of recent figures showing that the country's annual growth rate slowed to a five-year low of 7.3 percent last quarter.

European Central Bank President Mario Draghi also caused a stir in markets when he told a conference in Frankfurt, Germany, that the bank is willing to "step up the pressure" and increase its efforts to stimulate Europe's struggling economy.

If current efforts do not achieve the desired effect, Draghi said the ECB could "broaden even more the channels through which we intervene."

For many in the markets, that was a clear hint that the bank could soon starting buying government bonds.

Beyond the talk of central bank stimulus, investors had their eye on the latest batch of corporate earnings Friday.

Traders bid up shares in several companies that reported better-than-expected earnings, including software maker Splunk and sporting goods retailer Hibbett Sports. Splunk rose $1.99, or 3.1 percent, to $66.93. Hibbett gained $1.82, or 4 percent, to $47.75.

Video game retailer GameStop and clothing chain operator Gap slumped after delivering disappointing results. GameStop slid $5.68, or 13 percent, to $37.86. Gap fell $1.68, or 4.2 percent, to $38.46.

Wireless communications company Aruba Networks sank 13.7 percent after its outlook fell short of financial analysts' expectations. The stock shed $2.98 to $18.82.

China's interest rate cut raised hopes for increased economic activity and oil demand. That helped lift oil prices.

Benchmark U.S. crude gained 66 cents to settle at $76.51 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $1.03 to close at $80.36 on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX, wholesale gasoline rose 2.9 cents to close at $2.057 a gallon, heating oil rose 2.5 cents to close at $2.405 a gallon and natural gas fell 22.3 cents to close at $4.266 per 1,000 cubic feet.

In metals trading, gold rose $6.80 to $1,197.70 an ounce, silver rose 26 cents to $16.40 an ounce and copper rose a penny to $3.03 a pound.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.31 percent from 2.34 percent late Thursday.

8108


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	7.84	points or ▲	0.04%	on	Monday, 24 November 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,817.90	▲	7.84	▲	0.04%		
	Nasdaq____	4,754.89	▲	41.92	▲	0.89%		
	S&P_500___	2,069.41	▲	5.91	▲	0.29%		
	30_Yr_Bond____	3.02	▼	0.00	▼	-0.07%		

NYSE Volume	 3,120,874,750 	 	 	 	 	  		 
Nasdaq Volume	 1,545,421,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,729.79	▼	-20.97	▼	-0.31%		
	DAX_____	9,785.54	▲	52.99	▲	0.54%		
	CAC_40__	4,368.44	▲	21.21	▲	0.49%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,349.00	▲	56.90	▲	1.08%		
	Shanghai_Comp	2,532.88	▲	46.09	▲	1.85%		
	Taiwan_Weight	9,122.33	▲	30.80	▲	0.34%		
	Nikkei_225___	17,357.51	▲	56.65	▲	0.33%		
	Hang_Seng.__	23,893.14	▲	456.02	▲	1.95%		
	Strait_Times.__	3,340.53	▼	-4.79	▼	-0.14%		
	NZX_50_Index_	5,471.68	▼	-24.13	▼	-0.44%		

http://finance.yahoo.com/news/us-stocks-inch-further-record-161235681.html

*US stocks inch further into record territory

Stocks end slightly higher at record levels, extending fall rally; Retail stocks climb*
Associated Press
By Steve Rothwell, AP Markets Writer 

NEW YORK (AP) -- The stock market eked out another record close Monday as investors remained confident that stimulus from central banks would revive global growth. Retail stocks rose ahead of the crucial holiday season.

Stocks have surged following a slump that lasted from mid-September to mid-October. The rally has been driven by optimism that central banks in Europe, China and Japan will invigorate economic growth outside the U.S.

"You clearly have momentum favoring stocks right now," said Russ Koesterich, chief investment strategist at Blackrock.

The Standard & Poor's 500 index rose 5.91 points, or 0.3 percent, to 2,069.41. The index has climbed for seven of the last eight days and is at an all-time high, having gained almost 12 percent this year.

The Dow Jones industrial average rose 7.84 points, less than 0.1 percent, to 17,817.90. The Nasdaq composite gained 41.92 points, or 0.9 percent, to 4,754.89.

On Monday, the gains were led by the so-called consumer discretionary sector, which includes retailers such as Coach, Urban Outfitters and Gap. These stocks should benefit most if the consumers go on a spending spree this holiday season.

Coach rose 95 cents, or 2.6 percent, to $37.41 as analysts at Stifel reiterated their belief that the maker of luxury clothing and accessories is "doing the right things to reinvigorate the brand." The analysts believe that the stock's price could climb as high as $47. The stock is down 32 percent for the year.

Telecommunications stocks were among the day's biggest losers. Verizon and AT&T slumped after analysts at Citigroup published a gloomy review of the sector and predicted a tough year ahead for the two phone giants.

Verizon fell 71 cents, or 1.4 percent, to $49.50. Citigroup cut its outlook on the stock to "neutral," predicting that the company's earnings will come in lower than most Wall Street analysts expect. Revenue growth at the big telecommunication companies could crimped by more intense competition and higher prices for wireless spectrum. AT&T dropped 58 cents, or 1.6 percent, to $34.70.

Stocks were still riding momentum from Friday, when China's central bank lowered a key interest rate and European Central Bank President Mario Draghi said he was willing to step up the bank's efforts to stimulate the region's struggling economy.

Oil fell ahead of a crucial meeting in Vienna on Thursday of the Organization of Petroleum Exporting Countries. Traders will be looking for a possible agreement to cut production to shore up prices. The price of crude has tumbled 26 percent since June as producers kept output stable while demand in Europe and other markets weakened.

Benchmark U.S. crude fell 73 cents, or 1 percent, to $75.78 per barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 68 cents to close at $79.68 a barrel on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX, wholesale gasoline fell 2.3 cents to $2.033 a gallon, heating oil fell a penny to $2.395 a gallon and natural gas fell 11.5 cents to $4.151 per 1,000 cubic feet.

The slump in energy prices bodes well for the upcoming holiday shopping season, said Jennifer Ellison, a principal of San Francisco-based Bingham, Osborn & Scarborough. She predicts that any money that consumers save at the gas pump is likely to be spent, rather than saved.

The falling price of oil "affects consumers in a lot of different ways, but most importantly you've got more money in your pocket," said Ellison. "That has a big impact especially at a time like holiday season when people are spending anyway."

In U.S. government bond trading, prices edged up. The yield on the benchmark 10-year Treasury note fell to 2.30 percent from 2.31 percent on Friday. The dollar resumed its climb against the Japanese yen. The U.S. currency rose to 118.26 yen from 117.79 yen Friday. The euro rose to $1.2439 from $1.2360.

In metals trading, the price of gold fell $2, or 0.2 percent, to $1,195.70 an ounce. Silver dropped 1.9 cents, or 0.1 percent, to $16.38 an ounce. Copper declined 3.2 cents, or 1 percent, to $3 per pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-2.96	points or ▼	-0.02%	on	Tuesday, 25 November 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,814.94	▼	-2.96	▼	-0.02%		
	Nasdaq____	4,758.25	▲	3.36	▲	0.07%		
	S&P_500___	2,067.03	▼	-2.38	▼	-0.12%		
	30_Yr_Bond____	2.97	▼	-0.05	▼	-1.76%		

NYSE Volume	 3,329,636,000 	 	 	 	 	  		 
Nasdaq Volume	 1,687,717,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,731.14	▲	1.35	▲	0.02%		
	DAX_____	9,861.21	▲	75.67	▲	0.77%		
	CAC_40__	4,382.31	▲	13.87	▲	0.32%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,320.90	▼	-28.10	▼	-0.53%		
	Shanghai_Comp	2,567.60	▲	34.72	▲	1.37%		
	Taiwan_Weight	9,116.24	▼	-6.09	▼	-0.07%		
	Nikkei_225___	17,407.62	▲	50.11	▲	0.29%		
	Hang_Seng.__	23,843.91	▼	-49.23	▼	-0.21%		
	Strait_Times.__	3,344.99	▲	4.46	▲	0.13%		
	NZX_50_Index_	5,442.68	▼	-29.00	▼	-0.53%		

http://finance.yahoo.com/news/asia-stocks-fall-china-rate-cut-effect-fades-080939659--finance.html

*US stocks dip as oil pushes energy sector lower

US stocks fall back from record levels as oil slumps again, pushing energy sector lower*
Associated Press
By Steve Rothwell, AP Business Writer

NEW YORK (AP) -- A slump in energy prices pushed the stock market back from record levels on Tuesday.

Energy stocks slid as the price of oil resumed its descent. Traders speculated that member nations of the oil-producing group OPEC would fail to agree on production cuts at an upcoming meeting in Vienna on Thursday. Oil has now dropped almost a third from a peak in June.

While lower oil prices are a long-term boon to consumers and industrial companies, they are a drag on stocks in the near term because energy companies account for about 10 percent of the overall market's profits.

Despite the losses, the major indexes remain close to all-time highs.

Stocks have been drifting gradually higher this month, having rebounded sharply from a slump in October, as investors have grown more confident that actions from central banks around the world will help bolster the global economy. The gains are likely to continue for now, said Jim McDonald, chief investment strategist at Northern Trust.

"People's sentiment is still pretty conservative," McDonald said. "That means that the slow-and-steady market can continue longer than people anticipate."

The Standard & Poor's 500 index fell 2.38 points, or less than 0.1 percent, to 2,067.03. The Dow Jones industrial average dropped 2.96 points, or less than 0.1 percent, to 17,814.94. The Nasdaq composite gained 3.36 points, or 0.1 percent, to 4,758.25.

Stocks started the day with small gains after a report showed that the U.S. economy grew at a solid 3.9 percent annual rate in the July-September period, faster than the 3.5 percent that was initially reported. The upward revision was due to higher estimates of spending by consumers and businesses, the Commerce Department said.

That positive report was tempered by news that U.S. consumer confidence fell in November. The Conference Board says its consumer confidence index fell to 88.7, down from a seven-year high of 94.5 in October. The decline primarily reflected less optimism in the short-term outlook as consumers expressed less confidence in current business conditions.

Among individual stocks, Pall, a company that makes filters for the food and health care industries, was the leading gainer in the S&P 500. The company's stock jumped $3.31, or 3.5 percent, to $98 after its earnings beat the expectations of Wall Street analysts.

Energy stocks slid along with oil prices following reports that the world's biggest producers are unwilling to cut production to help stop a slump in the price of crude. The sector dropped 1.6 percent and is now down 3.2 percent for the year. It's the only one of the 10 industry sectors in the S&P 500 that is down for the year.

Representatives from Venezuela, Saudi Arabia, Mexico and Russian state oil giant OAO Rosneft met Tuesday ahead of a meeting of the Organization of the Petroleum Exporting Countries in Vienna and didn't announce any immediate plans to cut output, The Wall Street Journal reported.

Benchmark U.S. crude fell $1.69 to close at $74.09 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.35 to close at $78.33 a barrel on the ICE Futures exchange in London.

In metals trading, the price of gold rose $1.40 to $1,197.10 an ounce. Silver rose 18 cents to $16.55 an ounce and copper fell four cents to $2.96 a pound.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.26 percent from 2.31 percent Monday. The dollar fell to 117.94 yen from 118.28 yen late Monday. The euro rose to $1.2472.

In other energy futures trading on the NYMEX:

”” Wholesale gasoline fell 0.1 cent to close at $2.032 a gallon

”” Heating oil fell 0.1 cent to close at $2.395 a gallon.

”” Natural gas rose 13.1 cents to close at $4.282 per 1,000 cubic feet


----------



## bigdog

Source: http://finance.yahoo.com 

*The U.S. stock market will be closed on Thursday for the Thanksgiving holiday. It will also close early, at 1:00 p.m. Eastern time, on Friday.	* 

 *The NYSE DOW closed  	HIGHER ▲	12.81	points or ▲	0.07%	on	Wednesday, 26 November 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,827.75	▲	12.81	▲	0.07%		
	Nasdaq____	4,787.32	▲	29.07	▲	0.61%		
	S&P_500___	2,072.83	▲	5.80	▲	0.28%		
	30_Yr_Bond____	2.94	▼	-0.03	▼	-0.88%		

NYSE Volume	 2,716,401,750 	 	 	 	 	  		 
Nasdaq Volume	 1,337,862,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,729.17	▼	-1.97	▼	-0.03%		
	DAX_____	9,915.56	▲	54.35	▲	0.55%		
	CAC_40__	4,373.42	▼	-8.89	▼	-0.20%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,380.30	▲	59.40	▲	1.12%		
	Shanghai_Comp	2,604.35	▲	36.75	▲	1.43%		
	Taiwan_Weight	9,122.39	▲	6.15	▲	0.07%		
	Nikkei_225___	17,383.58	▼	-24.04	▼	-0.14%		
	Hang_Seng.__	24,111.98	▲	268.07	▲	1.12%		
	Strait_Times.__	3,349.66	▲	4.67	▲	0.14%		
	NZX_50_Index_	5,457.39	▲	14.71	▲	0.27%		

http://finance.yahoo.com/news/asia-stocks-rise-us-growth-revised-higher-051459019--finance.html

*US stock market inches to record ahead of holiday*
Associated Press
By STEVE ROTHWELL

NEW YORK (AP) ”” The U.S. stock market eked out another record close on Wednesday ahead of the Thanksgiving holiday as investors assessed the latest reports on the economy and some corporate earnings.

Orders for long-lasting manufactured goods rose in October, but a key category that tracks business investment plans declined sharply for a second straight month. Another report showed U.S. consumers spent modestly more in October, a slight improvement after no gain at all in the previous month.

The reports paint a picture of a "good, but not great" economy, said Scott Keifer, global investment specialist at JPMorgan Private Bank. Slow growth is keeping inflation low and that's holding down interest rates. The result is an environment in which stocks can prosper.

"There seems to be a feeling that the markets are going to continue to drift higher as we get to the end of the year," said Keifer, who is based in Orange County, Calif.

The Standard & Poor's 500 index rose 5.80 points, or 0.3 percent, to 2,072.83. The index has now closed at an all-time high on 47 occasions this year.

The Dow Jones industrial average rose 12.81 points, or 0.1 percent, to 17,827.75. The Nasdaq composite climbed 29.07 points, or 0.6 percent, to 4,787.32.

Semiconductor stocks were among the gainers on Wednesday after Analog Devices reported income and revenue that exceeded Wall Street's forecasts. The company said it expects revenue growth of 21 percent in its first fiscal quarter. The stock jumped $2.85, or 5.5 percent, to $54.56, leading gains for semiconductor stocks in the S&P 500, which rose 2.3 percent.

Stocks have rebounded strongly from a slump that lasted from mid-September to mid-October. The S&P 500 has surged 11.3 percent since then. The gains have slowed this week, however, ahead of the Thanksgiving holiday.

"This seems to be a classic holiday plateau," said Kristina Hooper, head of US Capital Markets Research & Strategy for Allianz Global Investors. "Probably, we are not going to get any focus until we come back on Monday."

The U.S. stock market will be closed on Thursday for the Thanksgiving holiday. It will also close early, at 1:00 p.m. Eastern time, on Friday.

The company's fourth-quarter results were stronger than Wall Street expected, but the company said its sales of farm equipment and its income will keep falling in the company's new fiscal year. Deere's stock slid 80 cents, or 0.9 percent, to $86.99.

Energy stocks were once again the biggest loser of the 10 industry groups represented in the S&P 500 index as the price of oil dipped again.

The price of oil slid to another four-year low in light trading ahead of an OPEC meeting Thursday in Vienna that is not expected to result in a cut to global production.

Benchmark U.S. crude fell 40 cents to close at $73.69 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 58 cents to close at $77.75 a barrel on the ICE Futures exchange in London.

Energy stocks slumped 1.1 percent, taking their loss for the year to 5.6 percent. The sector is the only group in the S&P 500 to be down for the year.

In metals trading, futures closed little changed from the day before. Gold fell 50 cents to $1,196.60 an ounce, silver edged down half a cent to $16.55 an ounce and copper was flat at $2.96 a pound.

In bond trading, U.S. Treasury prices rose slightly. The yield on the benchmark 10-year note fell to 2.24 percent from 2.26 on Tuesday.

The dollar edged down to 117.65 yen from 117.85 yen late Tuesday. The euro rose to $1.2507 from $1.2477 late Tuesday.


----------



## bigdog

Source: http://finance.yahoo.com 

*The US markets were closed for the Thanksgiving public holiday.*  

 *The NYSE DOW closed  	HIGHER ▲	12.81	points or ▲	0.07%	on	Wednesday, 26 November 2014 **
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,827.75	▲	12.81	▲	0.07%		
	Nasdaq____	4,787.32	▲	29.07	▲	0.61%		
	S&P_500___	2,072.83	▲	5.80	▲	0.28%		
	30_Yr_Bond____	2.94	▼	-0.03	▼	-0.88%		

NYSE Volume	 2,745,953,250 	 	 	 	 	  		 
Nasdaq Volume	 1,342,729,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,723.42	▼	-5.75	▼	-0.09%		
	DAX_____	9,974.87	▲	59.31	▲	0.60%		
	CAC_40__	4,382.34	▲	8.92	▲	0.20%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,381.40	▲	1.10	▲	0.02%		
	Shanghai_Comp	2,630.49	▲	26.14	▲	1.00%		
	Taiwan_Weight	9,165.31	▲	42.92	▲	0.47%		
	Nikkei_225___	17,248.50	▼	-135.08	▼	-0.78%		
	Hang_Seng.__	24,004.28	▼	-107.70	▼	-0.45%		
	Strait_Times.__	3,340.96	▼	-8.70	▼	-0.26%		
	NZX_50_Index_	5,455.38	▼	-2.01	▼	-0.04%		

http://news.brisbanetimes.com.au/br...rnational-markets-roundup-20141128-3ldms.html

*International markets roundup*
Date     November 28, 2014 - 6:25AM 

NEW YORK - *The US markets were closed for the Thanksgiving public holiday.*

LONDON - Borrowing costs for the German and French governments have fallen to record lows on the prospect of quantitative easing in the struggling eurozone, while the euro slid further and stocks gained.

In Frankfurt, the DAX 30 climbed 0.60 per cent to 9,974.87 points and in Paris the CAC 40 rose 0.20 per cent to 4,382.34 points.
Advertisement

London's benchmark FTSE 100 index was pulled down, however, by falling prices for energy company stocks after the OPEC oil cartel decided not to cut output despite a supply gut, ending off 0.09 per cent at 6,723.42 points.

A signal by a senior ECB official on Wednesday that the central bank could begin major purchases of government bonds of eurozone countries sent the yields, or interest paid, on them down as investors tried to lock in returns.

HONG KONG - Asian stocks were mixed in lacklustre trade, while oil prices hit a new four-year low ahead of a pivotal OPEC meeting expected to maintain the cartel's production levels despite a huge glut.

Tokyo stocks lost 0.78 per cent on Thursday as a stronger yen took the wind out of the market ahead of the Thanksgiving holiday, which will see US markets closed Thursday and open for shortened trade on Friday.

The Hang Seng Index fell 0.45 per cent or 107.70 points to 24,004.28 on turnover of HK$72.888 billion (US$9.4 billion) ahead of an Organisation of the Petroleum Exporting Countries (OPEC) decision on quotas and after an unexpected drop in Chinese industrial profits.

Coming in at its highest close in more than three years, the benchmark Shanghai Composite Index gained 1.00 per cent, or 26.15 points, to 2,630.49 on turnover of 339.0 billion yuan ($55.2 billion). It was the exchange's highest ending since August 4, 2011.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.75 per cent, or 10.52 points, to 1,416.18 on turnover of 270.6 billion yuan.

Sydney edged up 0.09 per cent to close at 5,400.9 points, with Seoul also ending up slightly by 0.06 per cent to 1,982.09 points.

WELLINGTON - The NZX 50 Index fell 2.014 points, or 0.03 per cent, to 5455.378.


----------



## bigdog

Source: http://finance.yahoo.com 

*Regular U.S. trading closed at 1 p.m. Eastern time on Friday and the market was shut Thursday for the Thanksgiving holiday.	* 

 *The NYSE DOW closed  	HIGHER ▲	0.49	points or ▲	0.00%	on	Friday, 28 November 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,828.24	▲	0.49	▲	0.00%		
	Nasdaq____	4,791.63	▲	4.31	▲	0.09%		
	S&P_500___	2,067.56	▼	-5.27	▼	-0.25%		
	30_Yr_Bond____	2.91	▼	-0.03	▼	-1.02%		

NYSE Volume	 2,493,856,000 	 	 	 	 	  		 
Nasdaq Volume	 981,031,810 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,722.62	▼	-0.80	▼	-0.01%		
	DAX_____	9,980.85	▲	5.98	▲	0.06%		
	CAC_40__	4,390.18	▲	7.84	▲	0.18%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,298.10	▼	-83.30	▼	-1.55%		
	Shanghai_Comp	2,682.83	▲	52.35	▲	1.99%		
	Taiwan_Weight	9,187.15	▲	21.84	▲	0.24%		
	Nikkei_225___	17,459.85	▲	211.35	▲	1.23%		
	Hang_Seng.__	23,987.45	▼	-16.83	▼	-0.07%		
	Strait_Times.__	3,350.50	▲	9.54	▲	0.29%		
	NZX_50_Index_	5,424.45	▼	-30.93	▼	-0.57%		

http://finance.yahoo.com/news/asian-energy-shares-slide-opec-052912113.html

*Stocks slip as crude oil sinks*
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) — A sharp drop in crude prices tugged down shares in oil and gas companies on Friday, leading the Standard & Poor's 500 index to a slight loss in a short trading session.

The index, a benchmark for many investments, still closed out November with its third-best month this year.

"Crude is the big story today," said JJ Kinahan, TD Ameritrade's chief strategist. "There are very clear winners and losers. The Chevrons and Exxons of the world are getting hammered; then on the other side you have the shipping companies — UPS and FedEx — along with the airlines. For them, it's a beautiful story."

The S&P 500 index lost 5.27 points, or 0.3 percent, to close at 2,067.56. As a group, energy companies lost 6 percent, the worst drop of the 10 sectors in the S&P 500 by far.

The Dow Jones industrial average inched up 0.49 of a point, a sliver of a percent, to eke out another record high, 17,828.24. The Nasdaq composite picked up 4.31 points, less than 0.1 percent, to 4,791.63. Regular U.S. trading closed at 1 p.m. Eastern time on Friday and the market was shut Thursday for the Thanksgiving holiday.

Rising corporate profits and a steadily improving U.S. economy have helped push the stock market to record highs this month. The S&P 500 gained 2.5 percent in November. But it was a quiet climb, a combination of many small steps. There wasn't a single day in November that the index rose more than 1 percent.

The main news driving trading was a decision made Thursday by the OPEC oil cartel to keep production at 30 million barrels a day. That announcement hit oil prices hard as traders expect the global supply of oil to stay high. Crude oil slumped $7.54, or 10 percent, to settle at $66.15.

The recent slide for oil prices has had a double-edged effect on the market. It has given a boost to airlines, shippers, retailers and cruise lines, which benefit from both falling costs and customers having more money in their pockets to spend. But it has battered drillers, producers and other companies that provide services to the oil and gas industry.

It was the same story Friday. United Parcel Service gained 3 percent, and FedEx added 2 percent.

Around the world, the slide in crude prices pulled oil and gas companies down. Newfield Exploration lost 16 percent and QEP Resources 15 percent, the two steepest drops by any company in the S&P 500 index.

In Asia, China's state-owned oil giant CNOOC, the country's biggest crude producer, plunged. In Europe, shares in Royal Dutch Shell, Total and other energy giants fell.

Despite those steep drops, Europe's major markets ended with slight gains. France's CAC 40 added 0.2 percent, while Germany's DAX inched up 0.1 percent. In the U.K, the FTSE 100 index of leading British companies barely moved from the previous day.

"The template for equity markets today has been clear from the beginning," said Alastair McCaig, market analyst at IG. "Oil and energy manufacturers are down, while those companies that are oil consumers are up."

In metals trading, the price of gold for February delivery lost $22 to $1,175.50 an ounce, and silver for March fell $1.05 to $15.56 an ounce. Copper for March fell 11 cents to $2.85 a pound.

In other energy futures trading on the New York Mercantile Exchange:

— Wholesale gasoline for January delivery fell 18 cents to close at $1.83 a gallon.

— January Heating oil fell 17 cents to close at $2.16 a gallon.

— January natural gas fell 27 cents to close $4.09 at per 1,000 cubic feet

8988


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-51.44	points or ▼	-0.29%	on	Monday, 1 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,776.80	▼	-51.44	▼	-0.29%		
	Nasdaq____	4,727.35	▼	-64.28	▼	-1.34%		
	S&P_500___	2,053.44	▼	-14.12	▼	-0.68%		
	30_Yr_Bond____	2.95	▲	0.04	▲	1.24%		

NYSE Volume	 4,107,670,250 	 	 	 	 	  		 
Nasdaq Volume	 1,841,476,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,656.37	▼	-66.25	▼	-0.99%		
	DAX_____	9,963.51	▼	-17.34	▼	-0.17%		
	CAC_40__	4,377.33	▼	-12.85	▼	-0.29%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,190.70	▼	-107.40	▼	-2.03%		
	Shanghai_Comp	2,680.16	▼	-2.68	▼	-0.10%		
	Taiwan_Weight	9,117.71	▼	-69.44	▼	-0.76%		
	Nikkei_225___	17,590.10	▲	130.25	▲	0.75%		
	Hang_Seng.__	23,367.45	▼	-620.00	▼	-2.58%		
	Strait_Times.__	3,305.64	▼	-44.86	▼	-1.34%		
	NZX_50_Index_	5,429.62	▲	5.18	▲	0.10%		

http://finance.yahoo.com/news/stocks-sink-retail-sales-slip-china-slows-151813512--finance.html

*Stocks slip after retail sales weaken, China slows*
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) ”” Mounting signs of weakness in the global economy and a poor start to the holiday shopping season knocked the stock market lower on Monday.

Earlier sales, a shift to online shopping and stagnant wages meant fewer Americans showed up to stores over the Thanksgiving weekend, the National Retail Federation said Sunday. The trade group estimated that total spending for the four days totaled $50.9 billion, down 11 percent from last year.

Major retailers slumped in response. Macy's lost $1.72, or 3 percent, to $63.19 and Target fell $1.25, or 2 percent, to $72.75. Best Buy lost $2.15, or 6 percent, to $37.26.

New reports of slowing manufacturing in China as well as in the three largest economies that use the European currency -- Germany, France and Italy -- also gave investors little reason to cheer.

The Standard & Poor's 500 index fell 14.12 points, or 0.7 percent, to close at 2,053.44. The losses were widespread: General Electric and other industrial companies led eight of the ten sectors in the index down.

The Dow Jones industrial average dropped 51.44 points, or 0.3 percent, to 17,776.80, while the Nasdaq composite fell 64.28 points, or 1.3 percent, to 4,727.35.

It was a weak start to what has been the stock market's best month on average. Since 1950, the S&P 500 has ended December with a typical gain of 1.7 percent, according to the "Stock Trader's Almanac." But after a strong 11 percent run this year, the market looks relatively expensive. The S&P 500 index trades at 17.6 times its profits over the past 12 months, well above the long-term average.

Peter Cardillo, chief market economist at Rockwell Global Capital, said more reports of slow economic growth around the world and falling oil prices could drive the market down in the coming weeks. But he thinks any setback will likely prove temporary. "Maybe the weakness in the global economy will take some of the starch out of our economy," he said. "It probably will, just not so much that it really hurts corporate earnings."

A survey by HSBC showed Chinese manufacturing activity lost steam in November, adding to signs of an economic slowdown. HSBC said its purchasing managers' index edged down to 50 from 50.4 the previous month. On the index's 100-point scale, numbers below 50 indicate contraction. China's economic growth slowed to a five-year low of 7.3 percent in the latest quarter.

"The November PMIs confirm that growth in China's industry remains under downward pressure," Louis Kuijs of Royal Bank of Scotland wrote in a report to investors.

In Asia, Hong Kong's Hang Seng index plunged 2.6 percent, while the Shanghai Composite Index slipped 0.1 percent. Japan's benchmark stock index Nikkei 225 added 0.8 percent.

Major stock markets in Europe closed with slight losses. Germany's DAX sank 0.2 percent, and France's CAC 40 dropped 0.3 percent. Britain's FTSE 100 slid 1 percent. Russia's RTS index lost 1.6 percent.

Back in the U.S., DreamWorks Animation slumped after its latest movie, "Penguins of Madagascar," had a weaker box-office opening over the Thanksgiving weekend than analysts had expected. The sequel to its popular "Madagascar" movie took second place to the newest installment of "The Hunger Games" series. DreamWorks' stock plunged $1.33, or 6 percent, to $22.51.

In the bond market, the yield on the 10-year Treasury note rose to 2.23 percent from 2.16 percent late Friday. High demand for U.S. government bonds has kept yields low.

Precious metals surged. Gold jumped $42.60 to settle at $1,218.10 an ounce, while silver surged $1.14 to $16.69 an ounce. Copper rose five cents to $2.90 a pound.

Oil posted its biggest percentage gain in more than two years, stemming a rout that had knocked about $40 off the price of a barrel of crude since June. Analysts still expect oil prices to remain weak given OPEC's decision last week to maintain its current production targets. That, combined with rising production in the U.S., has created an oversupplied oil market. Benchmark U.S. crude jumped $2.85, or 4 percent, to close at an even $69 a barrel on the New York Mercantile Exchange.

In other trading on the NYMEX:

”” Wholesale gasoline rose 5 cents to $1.88 a gallon

”” Heating oil rose 5 cents to $2.21 a gallon.

”” Natural gas fell 8 cents to $4.01 per 1,000 cubic feet


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	102.75	points or ▲	0.58%	on	Tuesday, 2 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,879.55	▲	102.75	▲	0.58%		
	Nasdaq____	4,755.81	▲	28.46	▲	0.60%		
	S&P_500___	2,066.55	▲	13.11	▲	0.64%		
	30_Yr_Bond____	3.00	▲	0.06	▲	1.97%		

NYSE Volume	 3,630,131,750 	 	 	 	 	  		 
Nasdaq Volume	 1,789,936,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,742.10	▲	85.73	▲	1.29%		
	DAX_____	9,934.08	▼	-29.43	▼	-0.30%		
	CAC_40__	4,388.30	▲	10.97	▲	0.25%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,260.00	▲	69.30	▲	1.34%		
	Shanghai_Comp	2,763.54	▲	83.39	▲	3.11%		
	Taiwan_Weight	9,034.79	▼	-82.92	▼	-0.91%		
	Nikkei_225___	17,663.22	▲	73.12	▲	0.42%		
	Hang_Seng.__	23,654.30	▲	286.85	▲	1.23%		
	Strait_Times.__	3,322.32	▲	16.68	▲	0.50%		
	NZX_50_Index_	5,418.78	▼	-10.84	▼	-0.20%		

http://finance.yahoo.com/news/asia-stocks-drift-global-economic-outlook-dims-051008917.html

*Energy companies lead an advance in US stocks*
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) ”” Energy and health-care companies led major stock indexes higher on Tuesday, even as crude oil resumed its slide. General Motors rose after reporting stronger sales, and Biogen, a biotech company, soared following news that its drug for Alzheimer's disease showed promise.

Reports that fewer people turned out to shop over the Thanksgiving weekend helped knock the market down on Monday. But those concerns were likely overblown, as other evidence suggests that people simply wanted to avoid the crowds at Black Friday sales, said Brad McMillan, the chief investment officer at Commonwealth Financial. IBM Digital Analytics, for instance, said that sales on Cyber Monday jumped 8 percent.

"I think what you're seeing is a little reality settling in," McMillan said. "Look at Cyber Monday numbers. You see that and say hmm, maybe it's not going to be so bad after all."

The Standard & Poor's 500 index rose 13.11 points, or 0.6 percent, to 2,066.55.

The Dow Jones industrial average gained 102.75 points, or 0.6 percent, to 17,879.55, while the Nasdaq composite rose 28.46 points, or 0.6 percent, to 4,755.81. Oil and gas companies led nine of the 10 industries in the S&P 500 higher.

The one economic report out Tuesday gave investors some encouragement. Newly built houses and schools lifted U.S. construction spending in October to the highest level since May, the Commerce Department said. Overall construction spending climbed 1.1 percent, higher than economists' forecasts.

General Motors posted solid sales gains in the U.S. last month, helped by discounts and falling gas prices. GM's sales climbed 6 percent to nearly 226,000 in November. The carmaker's stock gained 32 cents, or 1 percent, to $33.26.

Among other companies making big moves, Avanir Pharmaceuticals soared on news that Otsuka Pharmaceuticals of Japan plans to buy the company for $3.5 billion. Under the terms of the deal, Otsuka would pay Avanir investors $17 per share in cash. Avanir's stock jumped $1.92, or 13 percent, to $16.92.

Crude oil prices resumed their long slide, falling $2.12 to settle at $66.88 a barrel in New York trading. The slump has rippled throughout financial markets in recent weeks, putting stress on oil-exporting countries such as Russia. On Tuesday, Russia's government forecast that the country's economy will shrink next year. That helped send Russia's currency down 5 percent against the dollar and drive its RTS stock index down 3 percent.

"The economic conditions Russia is facing right now are aggressively against its economy," said Jameel Ahmad, Chief Market Analyst for FXTM.

Elsewhere in Europe, Germany's DAX slipped 0.3 percent, while France's CAC 40 inched up 0.3 percent. In the U.K., the FTSE 100 index of leading British shares gained 1.3 percent.

In Asia, Japan's Nikkei rose 0.4 percent. In China, the Shanghai Composite Index climbed 3 percent, and Hong Kong's Hang Seng added 1.2 percent.

Traders will have a batch of economic news to digest over the rest of the week. On Thursday, the European Central Bank meets to discuss whether the region's flagging economy needs more support. On Friday, the U.S. Labor Department releases its look at employment in November, a report that often sends markets swinging.

In other trading on Tuesday, government bond prices fell, pushing the yield on the 10-year Treasury note up to 2.29 percent.

Prices for precious metals sank. Gold dropped $18.70 to settle at $1,199.40 an ounce, while silver slid 24 cents to $16.46 an ounce. Copper dipped a penny to $2.89 a pound.

In other trading on the New York Mercantile Exchange:

”” Wholesale gasoline fell 7 cents to close at $1.812 a gallon.

”” Heating oil fell 6 cents to close at $2.154 a gallon.

”” Natural gas fell 13 cents to close at $3.874 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	33.07	points or ▲	0.18%	on	Wednesday, 3 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,912.62	▲	33.07	▲	0.18%		
	Nasdaq____	4,774.47	▲	18.66	▲	0.39%		
	S&P_500___	2,074.33	▲	7.78	▲	0.38%		
	30_Yr_Bond____	2.99	▼	-0.01	▼	-0.37%		

NYSE Volume	 3,556,792,000 	 	 	 	 	  		 
Nasdaq Volume	 1,704,877,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,716.63	▼	-25.47	▼	-0.38%		
	DAX_____	9,971.79	▲	37.71	▲	0.38%		
	CAC_40__	4,391.86	▲	3.56	▲	0.08%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,301.20	▲	41.20	▲	0.78%		
	Shanghai_Comp	2,779.53	▲	15.98	▲	0.58%		
	Taiwan_Weight	9,175.26	▲	140.47	▲	1.55%		
	Nikkei_225___	17,720.43	▲	57.21	▲	0.32%		
	Hang_Seng.__	23,428.62	▼	-225.68	▼	-0.95%		
	Strait_Times.__	3,303.39	▼	-18.93	▼	-0.57%		
	NZX_50_Index_	5,500.76	▲	10.53	▲	0.19%		

http://finance.yahoo.com/news/us-stocks-extend-record-run-220529806.html

*US stocks extend record run ahead of jobs report

US stocks extend record run ahead of jobs report; Material stocks lead gains for market*
Associated Press
By Matthew Craft and Steve Rothwell, AP Business Writers

NEW YORK (AP) -- A batch of good news on the economy Wednesday pushed the stock market to new highs.

Payroll processer ADP said that U.S. companies added 208,000 jobs in November, the third straight month that hiring has topped 200,000. A separate report showed that service sector activity climbed close to an eight-month high in November.

The reports were an encouraging sign before the government's monthly jobs survey is published on Friday.

"There is nothing more important than employment data," said Russell Price, senior economist at Ameriprise Financial. "More income fuels more consumer spending over time."

The Standard & Poor's 500 index rose 7.78 points, or 0.4 percent, to 2,074.33. The Dow Jones industrial average rose 33.07 points, or 0.2 percent, to 17,912.62. The Nasdaq composite climbed 18.66 points, or 0.4 percent, to 4,774.47.

After rebounding from a slump in mid-October, stocks have been gradually moving higher on optimism that the U.S. economy will continue to improve next year. Investors are also hopeful that actions by central banks outside of the U.S. will help bolster global growth.

Economists forecast that the U.S. government will say employers added 225,000 jobs in November and that the unemployment rate slipped to 5.7 percent from 5.8 percent, according the financial data provider FactSet.

"The biggest, most important economic statistic in the world looks like it will continue its winning streak if this morning's ADP employment report is to be believed," Christopher Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi, wrote in a note to clients. "Things are better than you think."

On Wednesday, stocks also got a lift from the energy sector as the price of oil showed signs of stabilizing. The sector rose for a third straight day, as drilling companies and other businesses that provide services to the oil and gas industry gained.

Cimarex Energy, an oil and gas exploration company, was among the biggest gainers in the S&P 500. Its stock surged $5.27, or 5.1 percent, to $108.17.

The energy sector has pared its loss for the year to 7.4 percent after this week's gains. The industry group is the only one of the 10 industry groups in the S&P 500 to be down for the year.

In energy trading, the price of U.S. benchmark crude rose 50 cents to $67.38 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 62 cents to close at $69.92 on the ICE Futures exchange in London. That's the lowest close for Brent since May of 2010.

Among individual stocks, Abercrombie & Fitch surged after the clothing store for teens reported that its quarterly profit topped analysts' estimates, even though sales slumped. Abercrombie gained 97 cents, or 3.5 percent, to $28.81.

In government bond trading, prices for U.S. government bonds edged higher. The yield on the 10-year Treasury note declined to 2.28 from 2.29 percent on Tuesday.

Prices of precious metals were mixed. Gold rose $9.30 to settle at $1,208.70 an ounce, while silver slipped 4 cents to $16.41 an ounce. Copper dipped 2 cents to $2.87 a pound.

In currency trading, the dollar rose against the Japanese yen, to 119.83 yen from 119.22 yen. The U.S. currency also gained against the euro, pushing the euro down to $1.231.

In other energy futures trading on the NYMEX:

”” Wholesale gasoline fell 0.5 cents to close at $1.807 a gallon

”” Heating oil fell 2.1 cents to close at $2.133 a gallon.

”” Natural gas fell 6.9 cents to close at $3.805 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-12.52	points or ▼	-0.07%	on	Thursday, 4 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,900.10	▼	-12.52	▼	-0.07%		
	Nasdaq____	4,769.44	▼	-5.04	▼	-0.11%		
	S&P_500___	2,071.92	▼	-2.41	▼	-0.12%		
	30_Yr_Bond____	2.96	▼	-0.04	▼	-1.17%		

NYSE Volume	 3,346,948,500 	 	 	 	 	  		 
Nasdaq Volume	 1,686,070,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,679.37	▼	-37.26	▼	-0.55%		
	DAX_____	9,851.35	▼	-120.44	▼	-1.21%		
	CAC_40__	4,323.89	▼	-67.97	▼	-1.55%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,345.40	▲	44.20	▲	0.83%		
	Shanghai_Comp	2,899.46	▲	119.93	▲	4.31%		
	Taiwan_Weight	9,225.11	▲	49.85	▲	0.54%		
	Nikkei_225___	17,887.21	▲	166.78	▲	0.94%		
	Hang_Seng.__	23,832.56	▲	403.94	▲	1.72%		
	Strait_Times.__	3,304.82	▲	1.43	▲	0.04%		
	NZX_50_Index_	5,500.76	▲	10.53	▲	0.19%		

http://finance.yahoo.com/news/europe-stocks-steady-ahead-ecb-china-surges-085317800--finance.html

*Stocks slip on ECB stimulus speculation*
Associated Press
By KEN SWEET 

NEW YORK (AP) ”” The stock market posted slight losses Thursday after European Central Bank officials decided to delay any stimulus for the struggling continent until next year. Investors also braced for the release of Friday's closely watched U.S. jobs report.

Stocks had been solidly lower much of the day, but did recover some of their losses after news outlets reported that the European Central Bank would consider a large stimulus package for next month.

Earlier comments from ECB President Mario Draghi were initially interpreted to mean the bank wouldn't act until next year, but by late Thursday consensus was building that stimulus was imminent.

"The ECB and Draghi basically said, 'we don't know what we are doing yet, but when we do it next month, it's going to be big,'" said Ian Winer, head of equity trading at Wedbush Securities.

The Dow Jones industrial average fell 12.52 points, or 0.1 percent, to 17,900.10. It was down nearly 100 points earlier in the day.

The Standard & Poor's 500 index fell 2.41 points, or 0.1 percent, to 2,071.92 and the Nasdaq composite fell 5.04 points, or 0.1 percent, to 4,769.44.

Energy stocks were among the hardest hit. The S&P 500's energy sector lost nearly 1 percent as the price of oil sank yet again. Benchmark U.S. crude fell 57 cents to close at $66.81 a barrel on the New York Mercantile Exchange on news that Saudi Arabia reduced its January prices to U.S. and Asian customers. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 28 cents to close at $69.64 on the ICE Futures exchange in London.

Bloomberg News reported that ECB officials are considering a large bond-purchasing program that will include European government debt, citing unnamed central bank figures. The report followed the ECB's decision Thursday to keep its main interest rate unchanged at a record low of 0.05 percent.

Draghi hinted at a news conference that the bank could act early next year. He said the ECB will reassess the success of its existing stimulus programs and the impact of low oil prices on Europe's economy. If needed, the ECB could do more, he said.

Draghi's comments and the Bloomberg News report indicate that the ECB is getting ready to make its own large-scale purchases of government bonds. The policy, known as quantitative easing, or "QE," has been used by the U.S. Federal Reserve, the Bank of England and the Bank of Japan.

Europe has been a point of worry for investors all year. The economic sanctions that Europe imposed on Russia, one of its biggest trading partners, following Russia's annexation of Crimea has taken a toll on the entire continent. Europe has teetered on the brink of recession as Germany, Europe's largest economy, has stagnated. If Europe slipped into recession, it would be its third recession since 2008.

Jonathan Loynes, chief European economist at Capital Economics, also expects a program of government bond purchases to be launched in January. "But whether it will be big and effective enough to revive the eurozone economy is another matter," he added.

In the U.S., the main focus will be the November jobs report, which comes out Friday. Following some solid hiring data on Wednesday from private payrolls firm ADP, economists expect that employers added 225,000 jobs last month and that the unemployment rate slipped to 5.7 percent from 5.8 percent.

Traders got another piece of job-related news Thursday. The number of people who filed for unemployment benefits fell by 17,000 to 297,000, the Labor Department said. A reading below 300,000 has been a signal that hiring continues to pick up in the U.S.

"At current levels, (the jobless claims numbers) are consistent with a very low layoff rate and solid employment growth," Guy Berger and Michelle Girard, economists at RBS, wrote in a note to clients.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.24 percent from 2.28 percent late Wednesday.

Barnes & Noble dropped $1.21, or 5.4 percent, to $21.03 after the company terminated its commercial agreement with Microsoft for its Nook e-reader. Barnes & Noble bought out Microsoft's stake in the Nook for $120 million in cash and stock, freeing the company to spin off its Nook business down the road. Microsoft rose 76 cents, or 1.6 percent, to $48.84.

In other energy futures trading:

”” Wholesale gasoline fell 1.2 cents to close at $1.795 a gallon

”” Heating oil fell 1.5 cents to close at $2.118 a gallon.

”” Natural gas fell 15.6 cents to close at $3.649 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	58.69	points or ▲	0.33%	on	Friday, 5 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,958.79	▲	58.69	▲	0.33%		
	Nasdaq____	4,780.76	▲	11.32	▲	0.24%		
	S&P_500___	2,075.37	▲	3.45	▲	0.17%		
	30_Yr_Bond____	2.96	▲	0.01	▲	0.20%		

NYSE Volume	 3,350,294,250 	 	 	 	 	  		 
Nasdaq Volume	 1,736,323,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,742.84	▲	63.47	▲	0.95%		
	DAX_____	10,087.12	▲	235.77	▲	2.39%		
	CAC_40__	4,419.48	▲	95.59	▲	2.21%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,313.60	▼	-31.80	▼	-0.59%		
	Shanghai_Comp	2,937.65	▲	38.19	▲	1.32%		
	Taiwan_Weight	9,206.57	▼	-18.54	▼	-0.20%		
	Nikkei_225___	17,920.45	▲	33.24	▲	0.19%		
	Hang_Seng.__	24,002.64	▲	170.08	▲	0.71%		
	Strait_Times.__	3,324.39	▲	19.57	▲	0.59%		
	NZX_50_Index_	5,500.76	▲	10.53	▲	0.19%		

http://finance.yahoo.com/news/stocks-rise-hiring-surge-dow-211531810.html

*Stocks rise after hiring surge; Dow misses 18,000

US, European stocks rise modestly after strong November jobs report; Dow flirts with 18,000*
Associated Press
By Ken Sweet, AP Business Writer

NEW YORK (AP) -- A strong jobs report boosted U.S. and European stocks Friday, and left the Dow Jones industrial average just short of the 18,000 mark.

The main focus in the markets was the monthly hiring numbers. The Labor Department said U.S. employers added 321,000 jobs last month, the biggest burst of hiring in nearly three years, while the unemployment rate remained steady at 5.8 percent.

Despite the good news, stock gains were restrained. Investors now expect that the robust jobs growth — and other signs the economy is accelerating — could lead the Federal Reserve to raise interest rates sooner than anticipated.

Banks, whose profit margins increase when interest rates rise, were among Friday's biggest gainers. Safety-focused utility stocks, which tend to perform poorly in an improving economy, were among the biggest decliners, along with energy companies, which were hurt once again by lower oil prices.

With Friday's modest increases, the Standard & Poor's 500 index closed out a seventh-straight week of gains. The stretch was its longest winning streak in a year and in stark contrast to the near-correction in the market only a month-and-a-half ago.

"We continue to see this steady drip into the equities markets, and I don't think it's going to stop any time soon," said David Kelly, chief global strategist for J.P. Morgan Funds.

The Dow Jones industrial average rose 58.69 points, or 0.3 percent, to 17,958.79. The S&P 500 index climbed 3.45 points, or 0.2 percent, to 2,075.37. The Nasdaq composite gained 11.32 points, or 0.2 percent, to 4,780.76.

November's jobs report, as well as other positive economic data, could raise expectations among investors that the Federal Reserve will soon start raising interest rates. Last month marks the 10th straight month of job gains above 200,000, and would put 2014 on track to be the best year for hiring since 1999.

The yield on the benchmark 10-year U.S. Treasury note climbed to 2.31 percent Friday from 2.24 percent the day before as investors sold bonds in anticipation of higher rates.

"The bottom line is this was yet another very solid employment report and another strong data point reaffirming the strength of U.S. growth versus a sluggish global (economy)," Rick Rieder, chief investment officer of fundamental fixed income at BlackRock, wrote in a note to reporters.

Investors like seeing a healthy U.S. economy, but are also aware that stock prices are higher partly because of ultra-low interest rates. If the Fed believes the U.S. economy is overheating, they could raise interest rates and it could cause stock prices to decline.

Not all stocks would be losers in a higher interest rate environment. Bank stocks rose Friday, with JPMorgan Chase, Citigroup, Bank of America, and Wells Fargo up 1 percent to 2.5 percent. Higher interest rates would allow banks to charge more for loans and that would boost their profits.

Still, those gains weren't enough to push the Dow to another round-number landmark. Just five months after cresting the 17,000-point level for the first time, the Dow is on the verge of 18,000. The blue chips came within nine points of that figure Friday, before pulling back.

Still, the Dow's performance this year has trailed the other major indexes. The average is up 8.3 percent in 2014, while the S&P 500, which is tracked more by mutual funds and Wall Street, is up 12.3 percent. The Nasdaq is up the most, rising 14.5 percent.

The price of oil fell Friday to its lowest level since July of 2009 on continued expectations of high global supplies and Saudi Arabia's decision to cut its prices.

Benchmark U.S. crude fell 97 cents to close at $65.84 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell for the ninth time in the last 10 trading sessions, closing down 57 cents to $69.07 in London.

Energy stocks followed oil prices lower. Chevron fell $1.41, or 1.3 percent, to $110.87. Marathon Petroleum lost $4.52, or 4.7 percent, to $92.15 and Phillips 66 fell $1.95, or 2.6 percent, to $73.02.

Along with the improving economy, the drop in oil prices has been encouraging to investors. Lower oil prices and, in turn, falling gas prices, are effectively a tax cut for the average person, and it could translate into higher spending down the road.

The dollar rose against other currencies as traders anticipated more robust growth in the U.S. and higher interest rates.

The price of gold fell $17.30, or 1.4 percent, to $1,190.40 an ounce. Silver fell 32 cents, or 1.9 percent, to $16.26 an ounce. Copper slipped a penny to $2.90 a pound.

9718


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-106.31	points or ▼	-0.59%	on	Monday, 8 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,852.48	▼	-106.31	▼	-0.59%		
	Nasdaq____	4,740.69	▼	-40.06	▼	-0.84%		
	S&P_500___	2,060.31	▼	-15.06	▼	-0.73%		
	30_Yr_Bond____	2.90	▼	-0.06	▼	-2.13%		

NYSE Volume	 3,775,885,500 	 	 	 	 	  		 
Nasdaq Volume	 1,896,057,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,672.15	▼	-70.69	▼	-1.05%		
	DAX_____	10,014.99	▼	-72.13	▼	-0.72%		
	CAC_40__	4,375.48	▼	-44.00	▼	-1.00%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,348.90	▲	35.30	▲	0.66%		
	Shanghai_Comp	3,020.26	▲	82.61	▲	2.81%		
	Taiwan_Weight	9,187.29	▼	-19.28	▼	-0.21%		
	Nikkei_225___	17,935.64	▲	15.19	▲	0.08%		
	Hang_Seng.__	24,047.67	▲	45.03	▲	0.19%		
	Strait_Times.__	3,297.84	▼	-26.55	▼	-0.80%		
	NZX_50_Index_	5,500.76	▲	10.53	▲	0.19%		

http://finance.yahoo.com/news/us-stocks-fall-energy-sector-215300955.html

*US stocks fall as energy sector drops sharply

Stocks fall as the energy sector sinks near a 2-year low; McDonald's falls on weak sales*
Associated Press
By Bernard Condon, AP Business Writer

NEW YORK (AP) -- U.S. stocks fell on Monday as oil prices turned sharply lower and spooked investors into dumping shares of drillers and other energy-service companies.

The drop in oil weighed on stocks from the start of trading. Weak trade figures out of China and news that Japan's recession is deeper than initially thought suggested demand for crude would be lower in those two economies. Among the big losers were two Dow Jones industrial average components, Chevron, down 3.7 percent, and Exxon Mobil, off 2.3 percent.

More broadly, the six-month drop in oil, which has brought the price of crude down to the lowest level in five years, suggests headwinds for the U.S. economy, said Bill Strazzullo, chief market strategist at Bell Curve Trading.

"When you look at the major drivers of global growth ”” Japan, China and the eurozone ”” they're really struggling," he said. "Can the U.S. continue to grow at a moderate pace when the rest of the world is having major problems?"

Energy shares in the Standard and Poor's 500, a broader index than the Dow, dropped to their lowest level in nearly two years. The decline of 3.9 percent was by far the biggest percentage drop among the 10 sectors in the index. Six of the 10 sectors fell.

Selling was especially fierce in shares of smaller companies in the oil business. Cimarex Energy, Transocean, and Noble Energy were each down at least 5 percent.

The Dow lost 106.31 points, or 0.6 percent, to 17,852.48. The Standard & Poor's 500 index fell 15.06 points, or 0.7 percent, to 2,060.31. The Nasdaq composite fell 40.06 points, or 0.8 percent, to 4,740.69

Stocks have been rising steadily since mid-October. An encouraging jobs report on Friday showing the biggest burst in hiring in nearly three years helped push the S&P 500 to a record, capping a seven-week winning streak, its longest this year.

For its part, the Dow came within nine points of breaching 18,000 points on Friday, just five months after passing 17,000.

But troubles in Asia and falling stocks in Europe on Monday put that milestone further from reach.

In China, the world's No. 2 economy, the government reported that export growth fell sharply last month and imports unexpectedly contracted. The news followed figures showing China's economy growing at its slowest pace in five years.

In Japan, revised figures for the July-September quarter showed its economy shrank 1.9 percent, a bigger drop than previously estimated.

In Europe, German industrial production inched up 0.2 percent in October, less than expected. Europe's biggest economy is barely growing, up just 0.1 percent in the third quarter.

The news combined to push down benchmark crude 4 percent.

John Manley, chief stock strategist at Wells Fargo Funds, noted that there is an optimistic take on the oil slump. Falling oil means drivers saving money on filling their gas tanks, which could translate into people spending more in stores this holiday season.

"If Americans have a bit more money, they tend to spend more," Manley said.

Among other stocks making big moves:

””McDonald's, another Dow component, lost 3.8 percent. That was the biggest loss in the blue-chip index. Investors sold after learning that a key global sales figure slipped 2.2 percent in November. U.S. sales continued to fall and the company fought to recover from a food-safety scandal in China. Stock in the world's biggest hamburger chain sank $3.70 to $92.61.

”” Merck & Co. agreed to pay $8.4 billion to buy Cubist Pharmaceuticals, a leader in developing drugs to fight so-called superbugs that have evolved to resist antibiotics. Cubist jumped $26.24, or 35 percent, to $100.60. Merck rose 39 cents, or 0.6 percent, to $61.88.

Benchmark crude oil dropped $2.79 to $63.05 a barrel in New York. Brent crude, which is used to price oil sold on international markets, dropped $2.88, or 4 percent, to $66.19 a barrel. Both prices are at their lowest levels since 2009.

In other energy futures trading:

”” Wholesale gasoline dropped 6.68 cents to $1.707 a gallon

”” Heating oil fell 5.29 cents to $2.055 a gallon

”” Natural gas plunged 20.7 cents to $3.595 per 1,000 cubic feet.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.26 percent.

In metals trading, the price of gold rose $4.50 to $1,194.90 an ounce, silver inched up two cents to $16.28 an ounce, and copper fell two cents to $2.89 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-51.28	points or ▼	-0.29%	on	Tuesday, 9 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,801.20	▼	-51.28	▼	-0.29%		
	Nasdaq____	4,766.47	▲	25.77	▲	0.54%		
	S&P_500___	2,059.82	▼	-0.49	▼	-0.02%		
	30_Yr_Bond____	2.88	▼	-0.03	▼	-0.90%		

NYSE Volume	 3,970,537,000 	 	 	 	 	  		 
Nasdaq Volume	 1,850,982,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,529.47	▼	-142.68	▼	-2.14%		
	DAX_____	9,793.71	▼	-221.28	▼	-2.21%		
	CAC_40__	4,263.94	▼	-111.54	▼	-2.55%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,258.30	▼	-90.60	▼	-1.69%		
	Shanghai_Comp	2,856.27	▼	-163.99	▼	-5.43%		
	Taiwan_Weight	9,128.90	▼	-58.39	▼	-0.64%		
	Nikkei_225___	17,813.38	▼	-122.26	▼	-0.68%		
	Hang_Seng.__	23,485.83	▼	-561.84	▼	-2.34%		
	Strait_Times.__	3,319.84	▲	22.00	▲	0.67%		
	NZX_50_Index_	5,500.76	▲	10.53	▲	0.19%		

http://finance.yahoo.com/news/china-shares-plunge-other-asian-markets-falter-080702363.html

*US stocks are mostly spared from a global sell-off*
Associated Press
By KEN SWEET 

NEW YORK (AP) ”” The U.S. stock market ended slightly lower Tuesday, avoiding the sharp declines in Europe and Asia thanks to a rally in beaten-down energy companies.

After an early sell-off, the Dow Jones industrial average steadied and ended with a moderate loss of 0.3 percent. That followed a sharp drop in European indexes, most notably in Greece, where the stock market suffered its biggest one-day loss since 1987. Greek officials called an early presidential vote, and investors feared the outcome could jeopardize the country's bailout program.

Stocks in China also stumbled, interrupting a months-long surge, after regulators there tightened rules for lending.

At the end of the day, the Dow lost 51.28 points to close at 17,801.20. It was down as much as 222 points in early trading. The Standard & Poor's 500 index closed effectively unchanged on the day, down 0.49 of a point to 2,059.82. The Nasdaq composite added 25.77 points, or 0.5 percent, to 4,766.47.

Energy companies were among the best performers, helped by a rebound in oil prices from a five-year low. Six out of the 10 biggest advancers in the S&P 500 were oil and gas exploration companies.

The gains in the energy industry were a respite for a sector that has been hit hard this year. The S&P 500 energy index is down 12 percent in 2014, versus the 11 percent rise in the overall market.

Telecom companies were among the biggest decliners Tuesday.

Verizon fell $1.98, or 4 percent, to $46.92 after the company said its wireless division's recent practice of deep discounting and buying out competitors' contracts could hurt the company's profit margins. AT&T, another major wireless carrier, also dropped. AT&T fell 99 cents, or 3 percent, to $32.89.

While the losses in the U.S. were slight, the losses in Europe were far deeper. France's CAC-40 closed down 2.6 percent and Germany's DAX lost 2.2 percent. Britain's FTSE 100 shed 2.1 percent.

The Athens stock exchange plunged 13 percent as investors worried that the country might have to hold early general elections and that a left-wing opposition party would win. The Syriza party wants to cut what Greece owes in bailout money, which could spook investors for years and potentially derail the country's recovery.

"It's somewhat of a gamble the prime minister is playing," said Phil Camporeale, a portfolio manager for J.P. Morgan Asset Management. "While there isn't the contagion issue there was in Europe two years ago, it's still not good for the eurozone."

Major Chinese oil and bank stocks fell, some by the daily limit of 10 percent allowed by regulators, after China's clearing house for securities trades raised the minimum rating for corporate bonds it would accept in exchange for short-term credit. That prompted concerns about the availability of financing for trades.

Tuesday's decline in Chinese stocks interrupted a buying frenzy that has pushed the Shanghai benchmark up 41 percent since June.

Hu Guopeng, an analyst at Founder Securities in Beijing, said the plunge in China was a "technical correction" linked to the uncertainty about the availability of credit.

It "does not mean the end of the market boom," Hu said.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.21 percent from 2.26 percent late Monday. The dollar declined 1.2 percent against the Japanese currency to 119.64 yen. The euro rose 0.1 percent to $1.238.

The price of oil rose Tuesday as the value of the dollar fell. Because oil is priced in dollars, a weaker dollar makes oil more attractive to global investors. Benchmark U.S. crude rose 77 cents to close at $63.82 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 65 cents to close at $66.84 on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX:

”” Wholesale gasoline rose 1.7 cents to close at $1.724 a gallon

”” Heating oil rose 2.9 cents to close at $2.084 a gallon.

”” Natural gas rose 5.7 cents to close at $3.652 per 1,000 cubic feet.

The price of gold rose $37.10, or 3.1 percent, to $1,232 an ounce. Silver jumped 86 cents, or 5.3 percent, to $17.13 an ounce and copper rose four cents, or 1.5 percent, to $2.93 an ounce.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-268.05	points or ▼	-1.51%	on	Wednesday, 10 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,533.15	▼	-268.05	▼	-1.51%		
	Nasdaq____	4,684.03	▼	-82.44	▼	-1.73%		
	S&P_500___	2,026.14	▼	-33.68	▼	-1.64%		
	30_Yr_Bond____	2.84	▼	-0.04	▼	-1.39%		

NYSE Volume	 4,080,167,000 	 	 	 	 	  		 
Nasdaq Volume	 1,732,016,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,500.04	▼	-29.43	▼	-0.45%		
	DAX_____	9,799.73	▲	6.02	▲	0.06%		
	CAC_40__	4,227.91	▼	-36.03	▼	-0.84%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,237.10	▼	-21.20	▼	-0.40%		
	Shanghai_Comp	2,940.01	▲	83.74	▲	2.93%		
	Taiwan_Weight	9,032.16	▼	-96.74	▼	-1.06%		
	Nikkei_225___	17,412.58	▼	-400.80	▼	-2.25%		
	Hang_Seng.__	23,524.52	▲	38.69	▲	0.16%		
	Strait_Times.__	3,326.47	▲	6.63	▲	0.20%		
	NZX_50_Index_	5,500.76	▲	10.53	▲	0.19%		

http://finance.yahoo.com/news/asian-shares-mostly-lower-weak-china-data-052214167.html

*US stocks slide the most in two months*
Associated Press
By STEVE ROTHWELL

NEW YORK (AP) ”” Oil resumed its slide on Wednesday and took the stock market down with it.

The catalyst for the latest sell-off in oil was an OPEC report that projected demand for its crude would sink next year to levels not seen in more than a decade. Demand for the cartel's oil has been eroded as other countries such as the U.S. have stepped up production.

The decline in the price of oil accelerated after the U.S. Energy Department reported that domestic oil inventories had increased. Analysts expected a decline.

Benchmark U.S. crude fell $2.88 to close at $60.94 a barrel. The price of oil has now dropped more than 40 percent from a peak of $107 in June.

The wider fallout from the plunge in the price of oil may be starting to worry investors. While lower oil prices are good for consumers and some industries, if prices continue to drop some producers may be forced out of business.

"The slide in oil has been pretty dramatic," said Randy Frederick, managing director of trading and derivatives with the Schwab Center for Financial Research. "There is an over-reaction to these lower energy prices, which is what we seem to be seeing right now, where it becomes more panic selling."

The Standard & Poor's 500 index fell 33.68 points, or 1.6 percent, to 2,026.14. The decline was the biggest for the index since Oct. 13.

The Dow Jones industrial average dropped 268.05 points, or 1.5 percent, to 17,533.15. The Nasdaq composite fell 82.44 points, or 1.7 percent, to 4,684.03.

Falling oil prices and concerns about global growth have pushed stocks down sharply since they closed at record levels on Friday. The market rose that day after the government reported a jump in hiring in November that put the U.S. on track for the healthiest year for job creation since 1999.

The resilience of the U.S. economy has prompted investors to speculate that the Federal Reserve will signal next week that it is nearing its first rate increase in more than eight years. The prospect of higher rates is unsettling for some investors as the market's almost six-year bull run has come against a backdrop of unprecedented stimulus.

Federal Reserve policymakers are scheduled to convene a two-day meeting on Dec. 16.

"The stronger employment data and economic data that we have gotten has only increased people's confidence that the Fed is going to be raising rates by the (middle) of next year," said Rob Eschweiler, global investment specialist at J.P. Morgan Private Bank in Houston.

Among individual stocks, Yum Brands, which owns the Taco Bell, KFC and Pizza Hut chains, was one of the day's big losers.

The stock slumped after the company cut its profit outlook for the year late Tuesday. It said sales in China are recovering more slowly than expected after a food-safety scare. Yum fell $4.69, or 6.2 percent, to $70.53.

Shares of airlines, which are heavy fuel users, rose as oil plunged. Southwest Airlines gained 75 cents, or 1.8 percent, to $41.48. The stock has gained 120 percent this year.

Government bond prices rose. The yield on the benchmark 10-year Treasury note fell to 2.17 percent from 2.21 percent on Tuesday. In currency trading, the dollar fell to 117.90 yen from 119.40 late Tuesday. The euro rose to $1.2445 from $1.2385.

In metals trading, Gold was little changed, dropping $2.60, or 0.2 percent, to $1,229.40 an ounce. Silver rose 5.3 cents, or 0.3 percent, to $17.19 an ounce. Copper fell 3.5 cents, or 1.2 percent, to $2.89 per pound.

In other energy trading, Brent crude, a benchmark for international oils used by many U.S. refineries, fell $2.60, or 3.9 percent, to $64.24 a barrel on the ICE Futures exchange in London.

”” Wholesale gasoline fell 8.2 cents to close at $1.642 a gallon.

”” Heating oil fell 3.8 cents to close at $2.046 a gallon.

”” Natural gas rose 5.4 cents to close at $3.706 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	63.19	points or ▲	0.36%	on	Thursday, 11 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,596.34	▲	63.19	▲	0.36%		
	Nasdaq____	4,708.16	▲	24.14	▲	0.52%		
	S&P_500___	2,035.33	▲	9.19	▲	0.45%		
	30_Yr_Bond____	2.83	▼	-0.01	▼	-0.35%		

NYSE Volume	 3,928,738,750 	 	 	 	 	  		 
Nasdaq Volume	 1,717,401,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,461.70	▼	-38.34	▼	-0.59%		
	DAX_____	9,862.53	▲	62.80	▲	0.64%		
	CAC_40__	4,225.86	▼	-2.05	▼	-0.05%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,207.40	▼	-29.70	▼	-0.57%		
	Shanghai_Comp	2,925.74	▼	-14.26	▼	-0.49%		
	Taiwan_Weight	9,013.07	▼	-19.09	▼	-0.21%		
	Nikkei_225___	17,257.40	▼	-155.18	▼	-0.89%		
	Hang_Seng.__	23,312.54	▼	-211.98	▼	-0.90%		
	Strait_Times.__	3,320.37	▼	-5.44	▼	-0.16%		
	NZX_50_Index_	5,500.76	▲	10.53	▲	0.19%		

http://finance.yahoo.com/news/europe-stocks-gain-asia-down-global-economy-jitters-085248939.html

*Retail sales report boosts US stock market*
Associated Press
By KEN SWEET

NEW YORK (AP) ”” Good news on U.S. retail sales lifted the stock market Thursday, although worries about the latest plunge in oil prices kept the gains in check.

Investors are caught between two conflicting thoughts: the improving U.S. economy, lower energy costs and higher consumer spending are expected to boost profits for many companies. But the recent drop in oil prices, which has accelerated in recent days, has investors worried that earnings for energy companies will suffer.

The drop in the price of oil has been a significant reason why stocks on pace to post their first weekly loss in nearly two months.

"Here on one hand the U.S. economy is doing very well. You can see it today in the retail sales numbers. But the global economy isn't doing well, which is why oil prices are dropping," said Russ Koesterich, global chief investment strategist at Blackrock.

The Dow Jones industrial average rose 63.19 points, or 0.4 percent, to 17,596.34. It was up 225 points earlier.

The Standard & Poor's 500 index rose 9.19 points, or 0.5 percent, to 2,035.33 and the Nasdaq composite rose 24.14 points, or 0.5 percent, to 4,708.16.

Companies that rely the most on spending by consumers rose the most Thursday. The S&P 500 consumer discretionary sector, a category that includes department stores and other retailers, gained 0.7 percent, while makers of consumer staples increased 0.8 percent.

Urban Outfitters, GameStop, Coach, Best Buy and Macy's were among the biggest gainers.

The rise came after the Commerce Department said U.S. retail sales rose by 0.7 percent in November. The encouraging retail sales report could not have come at a more crucial time for retailers, since holiday sales often mean the difference between retail companies reporting a profit or a loss for the year.

Falling gasoline prices led to a decline of 0.8 percent in sales at gas stations, but that money was likely spent elsewhere, investors said.

"(Lower oil prices) are a very big tax cut for U.S. consumers," Koesterich said. "Middle-income families are spending what they would spend on gas on other parts of the economy."

Another downturn in the price of oil discouraged buyers.

Oil fell 99 cents to close at $59.95 a barrel, its first time below $60 a barrel in more than five years. That's on top of steep plunges of $2.88 a barrel on Wednesday and $2.79 a barrel Monday. It's down sharply from its recent high of $107 a barrel in June.

Earlier in the day, oil prices seemed to be holding steady above that $60 mark, which in turn helped keep energy stocks higher. But oil could not keep up the momentum, and slid in afternoon trading.

"Once oil broke $60 a barrel, the market followed," said Jonathan Corpina, a trader at Meridian Equity Partners.

While lower oil prices are good for consumers, many energy companies rely on high oil prices to justify drilling in remote parts of the globe for hard-to-reach reserves of crude. Energy companies also make up a big part of the U.S. stock market.

Oil drillers and drilling equipment suppliers were among the biggest decliners. Nabors Industries fell 34 cents, or 3 percent, to $10.51. Transocean lost 37 cents, or 2 percent, to $17.02. Chesapeake Energy fell 43 cents, or 2.5 percent, to $16.71.

With the decline in oil, the S&P 500's energy component is down 7 percent this week alone. It's down 13 percent for the year.

"Now with oil prices coming down so much ... people are just getting a little bit nervous and they're taking their gains before they lose them before year-end," said Robert Pavlik, chief market strategist at Banyan Partners.

Among individual companies, Lending Club, a peer-to-peer lending platform, rose $8.43, or 56 percent, to $23.43 on its first day of trading. Lending Club's initial public offering priced at $15 a share on Wednesday night, above the estimated range.

U.S. government bond prices were little changed. The yield on the 10-year Treasury note held at 2.17 percent. The dollar rose 1.4 percent against the yen to 118.98 yen. The euro fell 0.7 percent to $1.2395.

Precious and industrial metals futures closed mixed. February gold fell $3.80 to $1,225.60 an ounce, March silver fell eight cents to $17.11 an ounce and March copper rose three cents to $2.92 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-315.51	points or ▼	-1.79%	on	Friday, 12 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,280.83	▼	-315.51	▼	-1.79%		
	Nasdaq____	4,653.60	▼	-54.57	▼	-1.16%		
	S&P_500___	2,002.33	▼	-33.00	▼	-1.62%		
	30_Yr_Bond____	2.76	▼	-0.07	▼	-2.44%		

NYSE Volume	 4,151,594,500 	 	 	 	 	  		 
Nasdaq Volume	 1,740,966,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,300.63	▼	-161.07	▼	-2.49%		
	DAX_____	9,594.73	▼	-267.80	▼	-2.72%		
	CAC_40__	4,108.93	▼	-116.93	▼	-2.77%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,196.90	▼	-10.50	▼	-0.20%		
	Shanghai_Comp	2,938.17	▲	12.43	▲	0.42%		
	Taiwan_Weight	9,027.33	▲	14.26	▲	0.16%		
	Nikkei_225___	17,371.58	▲	114.18	▲	0.66%		
	Hang_Seng.__	23,249.20	▼	-63.34	▼	-0.27%		
	Strait_Times.__	3,324.13	▲	5.43	▲	0.16%		
	NZX_50_Index_	5,500.76	▲	10.53	▲	0.19%		

http://finance.yahoo.com/news/us-stocks-plunge-oil-rout-214904669.html

*US stocks plunge as oil rout continues

US stocks slump to worst weekly loss in more than two years as oil rout continues*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- What a difference a week makes.

Seven days after closing at record levels on the back of a strong employment report, the stock market slumped to its worst weekly loss in two and a half years. The catalyst for the sell-off was an extension of a rout in oil prices.

Oil plunged Friday for the fourth time in five days after the International Energy Agency said global oil demand will grow less than previously forecast next year. The price of oil fell 12 percent for the week, going below $60 per barrel on Thursday for the first time since July 2009. Oil has now fallen 47 percent since reaching a peak of $107 in June this year.

A debate is raging among analysts and investors over whether tumbling oil prices are a net advantage, or a detriment, to the economy and the stock market. While consumers benefit from lower gas prices, energy companies will take a hit as their earnings are crimped. Those companies will also spend less on plants and equipment, hurting their suppliers.

Investors are also starting to worry whether the slump in demand for oil is signaling that growth outside of the U.S. is weaker than had been thought. The last time oil prices were this low was when the U.S. economy was emerging from the Great Recession.

"In a nation like the U.S. (as well as) Europe and most of Asia, the benefits of falling oil outweighs the costs," said Jeff Kleintop, Schwab's chief global investment strategist. "The concern is that there's something more to it, given such a sharp decline, that there's something deeper here."

The Standard & Poor's fell 33 points, or 1.6 percent, to 2,002.33. The index dropped 3.5 percent in the week, its biggest drop since May 2012.

The Dow Jones industrial average dropped 315.51 points, or 1.8 percent, to 17,280.83. The Nasdaq composite dropped 54.57 points, or 1.2 percent, to 4,653.60.

After flirting with a close above 18,000 just one week ago, the Dow has now shed more than 700 points after being weighed down by big losses in Exxon Mobil and Chevron.

Stocks started the day lower after a report showed that growth in factory output in China, the world's second-largest economy, declined last month.

The data came after Chinese leaders affirmed their commitment to the "new normal" of slower growth as they try to steer China toward a more sustainable expansion based on domestic consumption.

U.S. benchmark oil dropped $2.14, or 3.6 percent, to $57.81 a barrel. Brent, the international benchmark, lost $1.83, or 2.9 percent, to $61.85 a barrel. Energy stocks in the S&P 500 index fell 2.1 percent, taking their loss for the year to 16.5 percent.

Some companies bucked the downward trend.

Adobe reported fourth-quarter results late Thursday that beat Wall Street expectations. Adobe also said it will pay $800 million to buy the stock image and video company Fotolia. The stock jumped $6.28, or 9 percent, to $76.02.

Government bond prices rose. The yield on the benchmark 10-year Treasury note, which falls when prices rise, dropped to 2.08 percent from 2.17 percent Thursday.

The dollar fell. The U.S. currency dropped 0.2 percent to 118.74 yen. The euro rose 0.5 percent against the dollar to $1.24593.

In metals trading, silver fell six cents, or 0.3 percent, to $17.06 an ounce. Gold dropped $3.10, or 0.3 percent, to $1,222.50. Copper rose a penny, or 0.4 percent, to $2.93 a pound.

In other futures trading on the NYMEX:

— Wholesale gasoline fell 2.7 cents to close at $1.597 a gallon.

— Heating oil fell 4.5 cents to close at $2.016 a gallon.

— Natural gas rose 16.1 cents to close at $3.795 per 1,000 cubic feet.

0407


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-99.99	points or ▼	-0.58%	on	Monday, 15 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,180.84	▼	-99.99	▼	-0.58%		
	Nasdaq____	4,605.16	▼	-48.44	▼	-1.04%		
	S&P_500___	1,989.63	▼	-12.70	▼	-0.63%		
	30_Yr_Bond____	2.75	▼	-0.01	▼	-0.40%		

NYSE Volume	 4,336,358,000 	 	 	 	 	  		 
Nasdaq Volume	 2,047,896,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,182.72	▼	-117.91	▼	-1.87%		
	DAX_____	9,334.01	▼	-260.72	▼	-2.72%		
	CAC_40__	4,005.38	▼	-103.55	▼	-2.52%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,164.60	▼	-32.30	▼	-0.62%		
	Shanghai_Comp	2,953.42	▲	15.25	▲	0.52%		
	Taiwan_Weight	8,985.63	▼	-41.70	▼	-0.46%		
	Nikkei_225___	17,099.40	▼	-272.18	▼	-1.57%		
	Hang_Seng.__	23,027.85	▼	-221.35	▼	-0.95%		
	Strait_Times.__	3,294.14	▼	-29.99	▼	-0.90%		
	NZX_50_Index_	5,499.07	▼	-15.88	▼	-0.29%		

http://finance.yahoo.com/news/stocks-fall-biggest-weekly-loss-191835533.html

*Stocks fall after biggest weekly loss since 2012

US stocks fall after biggest weekly loss since 2012; Russian ruble hits record low*
Associated Press
By Bernard Condon, AP Business Writer

NEW YORK (AP) -- Falling oil prices pushed U.S. stocks down broadly on Monday, extending losses into a second week.

European stocks also fell, and the Russian ruble plunged to a record low against the dollar as the continuing collapse in the price of oil reverberated through global financial markets.

A brief rally after trading opened in the U.S. vanished as crude oil continued a six-month slide that has slashed its price nearly in half. Global demand for oil has been waning just as supplies are becoming more abundant.

The stock losses in the U.S. were modest, but markets in Germany and France fell more than 2 percent. The Russian ruble plunged, sending stocks sharply lower there, too.

The Standard & Poor's 500 fell 12.70 points, or 0.6 percent, to 1,989.63. All 10 industry sectors in the index dropped. The losses followed a 3.5 percent drop in the S&P 500 last week, its biggest decline since May 2012.

"People are taking profits, and it can go on for a while," said Uri Landesman, president of Platinum Partners, an investment fund in New York. "You're seeing a mini-correction."

A solid report on U.S. manufacturers and some merger news helped jolt markets higher after the open, but the gains evaporated after an hour as crude prices fell. The oil slump is worrying investors because it hammers the profits of drillers and other oil companies that are big components in stock indexes. Investors also fear it may signal the global economic slowdown is deeper than expected.

The Dow Jones industrial average fell 99.99 points, or 0.6 percent, to 17,180.84. The Nasdaq composite lost 48.44 points, or 1 percent, to 4,605.16.

The ruble sank 13 percent to 65.83 to the dollar. The Russian currency started the year at 32.85 to the dollar. The drop in crude prices has hurt Russia since the country is a major oil exporter and depends heavily on oil for tax revenue.

Several commentators have noted that plunging oil prices could eventually help U.S. stocks because it pushes down gas prices, freeing up money for Americans to spend at stores.

Doug Cote, chief market strategist at Voya Investment Management, said investors have overreacted to the oil drop and that he expects stocks to rise.

"Every time the consumer goes to the gas pump, it feels fantastic," he said. For the middle class, "it's like getting a big tax cut."

Investors may get a better sense of just how much oil is helping consumers when the Federal Reserve concludes a two-day meeting on Wednesday. The central bank statement summarizing its conclusions from such policy setting meetings can move markets. Investors will be looking to see if the statement keeps two key words: "considerable time," a reference to how long the Fed plans to keep short-term interest rates near zero.

Those low rates are widely credited with helping stocks race higher in the nearly six-year bull market. Most economists think the Fed will wait until June to raise rates.

In economic news, U.S. manufacturing output in November surpassed its pre-recession peak as auto production ramped up. The Federal Reserve figures are an encouraging sign that America's factories are somewhat insulated from the global economic slowdown.

Among stocks making big moves:

”” Riverbed Technology, a maker of computer-network equipment, jumped $1.57, or 8.4 percent, to $20.31 after agreeing to a $3.6 billion sale to private-equity firm Thoma Bravo and a Canadian pension fund.

”” Pet supplies chain PetSmart rose $3.30, or 4.2 percent, to $80.97 after announcing Sunday that it had agreed to an $8.7 billion sale to a group of investors led by BC Partners.

”” Range Resources jumped $1.22 or 2.3 percent to $55.40. The energy company, which is heavily focused on natural gas, said production would increase due to better efficiency. The company also said it was trimming its capital spending plans, becoming the latest energy producer to do so.

Prices for U.S. government bonds fell. The yield on the 10-year Treasury note rose to 2.11 percent from 2.08 percent late Friday.

Benchmark U.S. crude fell $1.90, or 3.3 percent, to close at $55.91 a barrel on the New York Mercantile Exchange. Oil was as high as $107 a barrel in June.

In other energy trading, Brent crude, a benchmark for international oils used by many U.S. refineries, fell 79 cents to close at $61.06 in London. In New York, wholesale gasoline fell 2.1 cents to close at $1.576 a gallon, heating oil fell 1.4 cents to close at $2.002 a gallon and natural gas fell 7.6 cents to close at $3.719 per 1,000 cubic feet.

Precious and industrial metals futures fell. Gold declined $14.80 to $1,207.70 an ounce. Silver fell 49 cents to $16.56 an ounce and copper lost six cents to $2.88 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-111.97	points or ▼	-0.65%	on	Tuesday, 16 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,068.87	▼	-111.97	▼	-0.65%		
	Nasdaq____	4,547.83	▼	-57.32	▼	-1.24%		
	S&P_500___	1,972.74	▼	-16.89	▼	-0.85%		
	30_Yr_Bond____	2.70	▼	-0.04	▼	-1.57%		

NYSE Volume	 4,926,879,000 	 	 	 	 	  		 
Nasdaq Volume	 2,136,248,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,331.83	▲	149.11	▲	2.41%		
	DAX_____	9,563.89	▲	229.88	▲	2.46%		
	CAC_40__	4,093.20	▲	87.82	▲	2.19%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,131.00	▼	-33.60	▼	-0.65%		
	Shanghai_Comp	3,021.52	▲	68.10	▲	2.31%		
	Taiwan_Weight	8,950.91	▼	-34.72	▼	-0.39%		
	Nikkei_225___	16,755.32	▼	-344.08	▼	-2.01%		
	Hang_Seng.__	22,670.50	▼	-357.35	▼	-1.55%		
	Strait_Times.__	3,215.09	▼	-79.05	▼	-2.40%		
	NZX_50_Index_	5,495.75	▼	-3.32	▼	-0.06%		

http://finance.yahoo.com/news/early-rally-fizzles-leaving-us-211530781.html

*An early rally fizzles, leaving US indexes lower*

*A late slide erases a rally in US stocks as trading remains volatile; oil price stabilizes*
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Sudden twists in the price of oil and currency trading turned the stock market into a roller-coaster ride on Tuesday.

Major indexes opened lower as falling oil prices and a plunge in the Russian ruble weighed on markets. Less than an hour later, crude oil recovered and oil and gas producers surged, driving the Dow Jones industrial average up as much as 246 points in the morning.

All of the gains were wiped out in the last hour.

The Standard & Poor's 500 index ended with a loss of 16.89 points, or 0.9 percent, to 1,972.74.

The Dow Jones industrial average lost 111.97 points, or 0.7 percent, to 17,068.87, while the Nasdaq composite dropped 57.32 points, or 1.2 percent, to 4,547.83.

The turbulence drove traders into the safety of U.S. government bonds, driving prices up and yields down. The yield on the 10-year Treasury note sank to 2.06 percent from 2.12 percent late Monday, a big move in the normally placid market.

The volatility in financial markets is likely to last until oil prices find a stable floor, said Marc Zabicki, senior market strategist at Ameriprise Financial.

"Lower oil prices certainly are a net positive for U.S. consumer spending," he said. "But there's a contagion risk out there that investors have an eye on. Namely, what does it do to shale gas players, and what does it mean to the banks that lend to them?"

Since reaching a record high of 2,075.37 on Dec. 5, the S&P 500 has fallen into a slump, losing ground on six of the past seven trading days. Energy companies have been hit hard, a result of the ongoing slump in crude. The S&P 500 has lost 4.6 percent so far this month. December, usually one of the market's best months, hasn't lived up to its reputation.

The price of U.S. oil settled higher on Tuesday for the first time in a week, rising 2 cents to close at $55.93 a barrel in New York. Oil has fallen by nearly half since June as demand wanes and supply surges.

Major markets in Europe surged. France's CAC 40 gained 2.2 percent, while Germany's DAX picked up 2.5 percent. Britain's FTSE 100 climbed 2.4 percent.

John Manley, chief equity strategist at Wells Fargo Fund Management, said that the trouble in developing countries highlighted the stability of the U.S. economy and its stock market.

"Yes, I do worry about Russia, yes I do worry about Venezuela, and you can't really have oil come down more than 45 percent without somebody having a problem, somewhere," Manley said. "But there's an old saying on Wall Street, 'In a dog-eat-dog market, get yourself a big dog,' and the U.S. is the ultimate big dog when it comes to this sort of thing."

Falling oil prices have also hammered markets in the Persian Gulf. Dubai's main market and Abu Dhabi's closed at their lowest points of the year on Tuesday with losses of 7 percent. Saudi Arabia's stock market fell 7.3 percent. Many are concerned that the drop in the price of oil will lead to less government spending and political unrest.

Back in the U.S., precious and industrial metals futures fell. Gold declined $13.40 to $1,194.30 an ounce, and silver fell 81 cents to $15.75 an ounce. Copper slipped two cents to $2.86 a pound.

Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.20 to close at $59.86 in London.

In other commodity trading on the New York Mercantile Exchange:

__ Wholesale gasoline dropped 3.5 cents to close at $1.541 a gallon.

__ Heating oil lost 4.2 cents to $1.960 a gallon.

__ Natural gas dropped 10 cents to $3.619 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	288	points or ▲	1.69%	on	Wednesday, 17 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,356.87	▲	288.00	▲	1.69%		
	Nasdaq____	4,644.31	▲	96.48	▲	2.12%		
	S&P_500___	2,012.89	▲	40.15	▲	2.04%		
	30_Yr_Bond____	2.75	▲	0.05	▲	1.85%		

NYSE Volume	 4,912,685,000 	 	 	 	 	  		 
Nasdaq Volume	 2,177,053,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,336.48	▲	4.65	▲	0.07%		
	DAX_____	9,544.43	▼	-19.46	▼	-0.20%		
	CAC_40__	4,111.91	▲	18.71	▲	0.46%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,140.60	▲	9.60	▲	0.19%		
	Shanghai_Comp	3,061.02	▲	39.50	▲	1.31%		
	Taiwan_Weight	8,828.36	▼	-122.55	▼	-1.37%		
	Nikkei_225___	16,819.73	▲	64.41	▲	0.38%		
	Hang_Seng.__	22,585.84	▼	-84.66	▼	-0.37%		
	Strait_Times.__	3,227.23	▲	12.14	▲	0.38%		
	NZX_50_Index_	5,496.58	▲	0.83	▲	0.02%		

http://finance.yahoo.com/news/stocks-gain-most-more-fed-213024381.html

*Stocks gain most in more than a year on Fed, oil

Stocks log biggest gain in more than a year on Fed's 'patient' pledge; energy sector jumps*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- A pledge from the Federal Reserve to remain "patient" when deciding when to lift interest rates gave the stock market its biggest gain in more than a year.

Stocks rose from the open on Wednesday, led by gains for the energy sector, as oil prices showed signs of stabilizing after their big slump in recent months. The market's gains were extended after Fed policymakers released a statement following the end of its most recent policy meeting.

A near six-year bull run for the stock market has come against a background of exceptional stimulus from the Fed. At the start of the month investors had worried that signs of strengthening hiring would lead the Fed to bring forward the start of rate increases.

"The Fed is going to be our friend for a very long time," said Burt White, chief investment officer for LPL Financial. "Growth continues to be good and corporate America is healthy. If you mix all that together it translates to rising stock prices."

The Standard & Poor's 500 index rose 40.15 points, or 2.04 percent, to 2,012.89. That was the biggest gain for the index since October 2013

The Dow Jones industrial average rose 288 points, or 1.7 percent, to 17,356.87. The Nasdaq composite climbed 96.48 points, or 2.1 percent, to 4,644.31.

Stock investors have had a wild ride in the final quarter of the year. The market plunged at the start of October on concerns that global growth was slowing. Then it rebounded and surged to record levels at the start of December, before falling sharply last week as the price of oil collapsed, dragging down energy stocks.

On Wednesday, energy stocks led gains for the S&P 500 index as the price of oil steadied. Stocks in the sector jumped 4.2 percent, reducing their losses for the year to 13 percent.

The price of U.S. oil rose Wednesday after the Energy Department reported a decline in inventories, a turnaround from a Tuesday report of increased inventories from the American Petroleum Institute, an industry group.

Benchmark U.S. crude rose 54 cents to close at $56.47 a barrel in New York. Brent crude for February delivery, a benchmark for international oils used by many U.S. refineries, rose $1.17 to close at $61.18 a barrel in London. The January Brent contract expired Tuesday at $59.86.

Stocks that were linked to Cuba surged after President Barack Obama announced the re-establishment of diplomatic relations on Wednesday and declared an end to America's "outdated approach" to the communist island in a historic shift aimed at ending a half-century of Cold War enmity.

Copa Airlines, a Panama City-based carrier, and one of the most successful airlines in Latin America, jumped. Its stock rose $6.36, or 7.2 percent, to $94.48 on the news.

The Herzfeld Caribbean Basin Fund, a closed-end fund designed to take advantage of greater trade with Cuba, surged $1.97, or 28.9 percent, to $8.78.

Among individual names, FedEx was one of the biggest losers in early trading after in the shipping company reported earnings that fell short of Wall Street's expectations. The company said a jump in plane maintenance costs blunted gains the company reaped from managing costs, lowering its pension expense and growing its export package revenue. The company's stock dropped $6.48, or 3.7 percent, to $167.78.

Russia also remained in focus on concerns about the impact of the recent slide in the ruble. The currency has lost more than 50 percent of its value this year. After falling again early Wednesday, the ruble recovered and was 12 percent higher at 61.66 rubles to the dollar.

The currency recovered some of its losses Wednesday after Russian authorities indicated that they would sell foreign currency to relieve pressure on the ruble. The Russian currency has suffered in the wake of sliding oil prices and sanctions imposed over Russia's involvement in Ukraine's crisis.

In government bond trading, prices fell. The yield on the 10-year benchmark Treasury note, which rises when prices fall, climbed to 2.13 percent from 2.08 percent a day earlier.

The price of gold was little changed from Tuesday at $1,194.50 an ounce. Silver rose 18 cents to $15.93 an ounce and copper rose a penny to $2.87 a pound.

In other energy futures trading on the NYMEX:

”” Wholesale gasoline rose 2.5 cents to close at $1.566 a gallon.

”” Heating oil rose 4.9 cents to close at $2.009 a gallon.

”” Natural gas fell 8.3 cents to close at $3.702 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	421.28	points or ▲	2.43%	on	Thursday, 18 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,778.15	▲	421.28	▲	2.43%		
	Nasdaq____	4,748.40	▲	104.08	▲	2.24%		
	S&P_500___	2,061.23	▲	48.34	▲	2.40%		
	30_Yr_Bond____	2.81	▲	0.06	▲	2.18%		

NYSE Volume	 4,680,183,500 	 	 	 	 	  		 
Nasdaq Volume	 2,115,175,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,466.00	▲	129.52	▲	2.04%		
	DAX_____	9,811.06	▲	266.63	▲	2.79%		
	CAC_40__	4,249.49	▲	137.58	▲	3.35%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,189.70	▲	49.10	▲	0.96%		
	Shanghai_Comp	3,057.52	▼	-3.50	▼	-0.11%		
	Taiwan_Weight	8,878.63	▲	50.27	▲	0.57%		
	Nikkei_225___	17,210.05	▲	390.32	▲	2.32%		
	Hang_Seng.__	22,832.21	▲	246.37	▲	1.09%		
	Strait_Times.__	3,247.02	▲	19.79	▲	0.61%		
	NZX_50_Index_	5,518.48	▲	21.89	▲	0.40%		

http://finance.yahoo.com/news/fed-rate-wording-boosts-asian-stock-markets-064743446.html

*Dow industrials have their best day in three years*
Associated Press
By STEVE ROTHWELL

NEW YORK (AP) ”” The Dow Jones industrial average had its biggest surge in three years Thursday, its second straight triple-digit gain following the Federal Reserve's reassurance that it was in no hurry to raise interest rates.

Bullish earnings from technology giant Oracle also drove the rally, which has helped stocks erase an early-December slump. Industrial and health care stocks also logged big gains. Even the energy sector advanced, despite another drop in the price of oil.

Fed Chair Janet Yellen said Wednesday that she foresaw no rate hike in the first quarter of 2015. The comments eased concerns that policymakers would start raising interest rates at a time when growth outside the U.S. appears to be flagging. They also helped investors look past worries about the impact of a slumping oil price and turmoil in Russia, where the currency has slumped.

"What we're seeing is a move back to fundamentals," said Karyn Cavanaugh, a senior market strategist at Voya Investment Management. "Earnings continue to be good...the U.S. economy is continuing to do well."

The Standard & Poor's 500 index rose 48.34 points, or 2.4 percent, to 2,061.23. The Dow Jones industrial average gained 421.28 points, also 2.4 percent, to 17,778.15. The Nasdaq Composite gained 104.08 points, or 2.2 percent, to 4,748.40.

Oracle was the biggest gainer in the S&P 500 index after it reported earnings late Wednesday that beat the expectations of Wall Street analysts. The company said its software and cloud revenue grew 5 percent. The stock rose $4.19, or 10.2 percent, to $45.35. The company's advance helped push up the tech sector 3 percent.

Investors are betting that as the economy improves and unemployment continues to fall, companies will start to invest in technology to boost productivity.

"Oracle has been out of favor for some time, and it's probably about time it gets back in favor," said Jerry Braakman, chief investment officer of First American Trust.

Stocks rose sharply Thursday even as oil resumed its slide.

The price of oil fell $2.36 to close at $54.11 a barrel, after rising as high as $58.71 in morning trading. Oil has plunged since June, when it peaked at $107 a barrel. Overproduction and weak demand are behind the fall in global oil prices. Brent crude, a benchmark for international oil, fell $1.91 to close at $59.27 in London.

A rapid descent in oil prices was the catalyst for big losses on the stock market a week earlier. While falling oil prices are good for consumers, putting more money in their pockets by cutting gas prices, they are bad for energy companies. Oil has fallen almost 50 percent from a peak of $107 a barrel in June.

U.S. government bond prices fell. The yield on the benchmark 10-year government Treasury note climbed to 2.21 percent from 2.14 percent a day earlier.

In currency trading, the euro fell to $1.2274 from $1.2329 the previous day. The dollar edged higher against the Japanese yen, climbing to 118.83 yen from 118.83 yen.

Prices for precious and industrial metals were little changed. Gold edged up 30 cents to $1,194.80 an ounce, silver was essentially unchanged at $15.93 an ounce and copper fell two cents to $2.85 a pound.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 3.9 cents to close at $1.527 a gallon.

”” Heating oil fell 7 cents to close at $1.939 a gallon.

”” Natural gas fell 6 cents to close at $3.642 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	26.65	points or ▲	0.15%	on	Friday, 19 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,804.80	▲	26.65	▲	0.15%		
	Nasdaq____	4,765.38	▲	16.98	▲	0.36%		
	S&P_500___	2,070.65	▲	9.42	▲	0.46%		
	30_Yr_Bond____	2.77	▼	-0.04	▼	-1.35%		

NYSE Volume	 6,316,354,000 	 	 	 	 	  		 
Nasdaq Volume	 3,242,621,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,545.27	▲	79.27	▲	1.23%		
	DAX_____	9,786.96	▼	-24.10	▼	-0.25%		
	CAC_40__	4,241.65	▼	-7.84	▼	-0.18%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,312.70	▲	123.00	▲	2.37%		
	Shanghai_Comp	3,108.60	▲	51.07	▲	1.67%		
	Taiwan_Weight	8,999.52	▲	120.89	▲	1.36%		
	Nikkei_225___	17,621.40	▲	411.35	▲	2.39%		
	Hang_Seng.__	23,116.63	▲	284.42	▲	1.25%		
	Strait_Times.__	3,279.53	▲	35.88	▲	1.11%		
	NZX_50_Index_	5,527.75	▲	9.27	▲	0.17%		

http://finance.yahoo.com/news/asia-equity-rally-continues-fed-050707985.html

*US stocks inch higher after a big two-day rally*
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) ”” Oil and gas companies led the stock market up Friday, helping the Standard & Poor's 500 index notch its second-best week this year.

With little news to give them direction, traders continued to push indexes higher. That extended a rally from Wednesday when the Federal Reserve said it was in no hurry to hike interest rates.

"What a very crazy week," said Sam Stovall, chief equity strategist at S&P Capital IQ.

Benchmark U.S. crude bounced up from recent lows, climbing $2.36 to settle at $56.52 a barrel in New York, as traders bet that a 6-month plunge in prices had gone too far. Chevron, Denbury Resources and other energy companies led nine of the 10 sectors in the S&P 500 to gains.

Nike's stock dropped $2.24, or 2 percent, to $94.84. The maker of athletic apparel posted results that beat Wall Street's forecasts late Thursday, but a drop in orders from Japan and developing markets in Asia overshadowed an otherwise strong quarter.

The S&P 500 gained 9.42 points, or 0.5 percent, to 2,070.65, bringing its weekly gain to 3.4 percent.

The Nasdaq composite picked up 16.98 points, or 0.4 percent, to 4,765.38, and the Dow Jones industrial average rose 26.65 points, or 0.1 percent, to 17,804.80.

At the start of the week, slumping oil prices and the state of the world economy were investors' main worries. A plunge in the Russian currency, the ruble, added to a sense of unease.

The turnaround came Wednesday, when Janet Yellen, the Federal Reserve chairwoman, said she saw no reason to hike interest rates in early 2015 and that the central bank would be "patient" in deciding when to raise rates from near zero. Her comments eased concerns that the Fed would start raising rates when growth in other major economies has looked weak. Traders celebrated, driving the S&P 500 up 4.5 percent over two days.

"It's just crazy volatility," said Jim Paulsen, chief investment strategist and economist at Wells Capital Management. Paulsen pointed to the magnitude of the market's turn. Before the Fed's statement came out on Wednesday, the S&P 500 was on course for a second week of losses. Two days later, it closed out one of its best weeks this year.

Stock markets in Asia climbed in the wake of the big gains in Europe and the U.S. on Thursday. Japan's Nikkei 225 jumped 2.4 percent, while South Korea's Kospi added 1.7 percent. Hong Kong's Hang Seng advanced 1.3 percent.

"The major equity markets are finishing the trading year on a positive note thanks to Janet Yellen's Christmas message," said Neil MacKinnon, global macros strategist at VTB Capital. He said that with no major economic reports coming out, the markets will soon "switch into holiday mode," as traders head off for vacations.

Back in the U.S., strong quarterly results from Red Hat, an open-source software company, drove its stock up 11 percent, the biggest gain in the S&P 500. Red Hat reported better earnings and sales than analysts had expected late Thursday. Its stock soared $6.54 to $68.04.

CarMax jumped 11 percent after the used-car dealership posted a 22 percent surge in its quarterly profits thanks to higher sales. The company's results beat analysts' estimates, sending its stock up $6.79 to $67.32.

U.S. government bond prices rose, nudging yields down. The yield on the benchmark 10-year Treasury note slipped to 2.16 percent.

In the commodity markets, gold edged up $1.20 to $1,196 an ounce, while silver added 10 cents to $16.03 an ounce. Copper rose 3 cents to $2.88 a pound.

Brent crude, a benchmark for international oils used by many U.S. refineries, rose $2.11 to close at $61.38 in London.

In other futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline rose 3.3 cents to close at $1.560 a gallon.

”” Heating oil rose 2.3 cents to close at $1.962 a gallon.

”” Natural gas fell 17.8 cents to close at $3.464 per 1,000 cubic feet. Forecasts for a mild winter, have pushed natural gas to its lowest price since November 2013.

1202


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	154.64	points or ▲	0.87%	on	Monday, 22 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,959.44	▲	154.64	▲	0.87%		
	Nasdaq____	4,781.42	▲	16.04	▲	0.34%		
	S&P_500___	2,078.54	▲	7.89	▲	0.38%		
	30_Yr_Bond____	2.75	▼	-0.02	▼	-0.87%		

NYSE Volume	 3,338,074,000 	 	 	 	 	  		 
Nasdaq Volume	 1,664,895,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,576.74	▲	31.47	▲	0.48%		
	DAX_____	9,865.76	▲	78.80	▲	0.81%		
	CAC_40__	4,254.43	▲	12.78	▲	0.30%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,414.10	▲	101.40	▲	1.91%		
	Shanghai_Comp	3,127.44	▲	18.85	▲	0.61%		
	Taiwan_Weight	9,095.00	▲	95.48	▲	1.06%		
	Nikkei_225___	17,635.14	▲	13.74	▲	0.08%		
	Hang_Seng.__	23,408.57	▲	291.94	▲	1.26%		
	Strait_Times.__	3,330.96	▲	51.43	▲	1.57%		
	NZX_50_Index_	5,541.74	▲	13.99	▲	0.25%		

http://finance.yahoo.com/news/asian-markets-gain-oil-rebounds-071356976--finance.html

*US stocks push to record highs, continuing a rally*
Associated Press
By ALEX VEIGA 

The Dow Jones industrial average and the Standard & Poor's 500 index closed at record highs Monday as the market delivered its fourth gain in as many trading days.

Pharmaceutical and technology stocks were among the big risers, while shares in energy companies fell sharply as the decline in oil prices deepened. Discouraging data on U.S. home sales failed to derail the "Santa" rally, what traders often call a pre-Christmas advance.

Trading volume was lighter than usual as many investors looked ahead to the Christmas holiday.

"We're getting a good Santa Claus rally," said Sam Stovall, U.S. equity strategist at S&P Capital IQ.

After a strong finish last week, investors remained mostly in a buying mood Monday. The major stock indexes drifted between small gains and losses in the morning, as traders digested the latest housing data.

The National Association of Realtors reported that sales of previously occupied homes fell 6.1 percent last month to a seasonally adjusted annual rate of 4.93 million. That's the slowest pace in six months.

By late morning, the major indexes were rising and holding on to gains that were modest, but good enough for a new set of record highs.

The Standard & Poor's 500 index gained 7.89 points, or 0.4 percent, to 2,078.54. The S&P's most recent record close was 2,075.37, set on Dec. 5.

The Dow Jones industrial average rose 154.64, or 0.9 percent, to 17,959.44. Its last record close was 17,958.79 on Dec. 5.

The Nasdaq composite picked up 16.04 points, or 0.3 percent, to 4,781.42.

The Dow and S&P 500 are both up for the month, while the Nasdaq is down. The three indexes are up for the year.

Market gains this year have been in line with that of prior years that were also preceded by strong growth, noted Stovall.

"On average, the S&P has gained 10 percent in the years following 20-plus-percent advances," he said. "And we're doing just that."

The market is coming off a big advance last week, which gave the S&P 500 its second-biggest weekly gain this year.

The latest rally kicked off last Wednesday, when Federal Reserve Chair Janet Yellen delivered remarks that eased investors' concerns that the central bank would start raising interest rates in response to slowing growth in other major economies.

Looking ahead, trading volume is expected to thin out the next couple of days leading into Christmas.

"A lot of traders and a lot of investors are going to take the whole week off and that might lead to some volatility," said Mike Serio, regional chief investment officer at Wells Fargo Private Bank.

Several economic barometers, including government reports on durable goods, personal income, consumer sentiment and the latest estimate of growth in the third quarter, are due out this week.

"If we see any of those numbers really off track, it might affect the market," Serio said.

Eight of the 10 sectors in the S&P 500 index rose Monday, led by technology stocks. Health care and energy stocks declined.

Pharmaceutical stocks were among those making big moves Monday.

Achillion Pharmaceuticals' shares gained 9 percent after the biotechnology company reported positive results from two studies focusing on a treatment regimen for hepatitis C patients. The stock rose $1.28 to $15.49. Meanwhile, Enanta Pharmaceuticals vaulted 10.1 percent after it received regulatory approval for a hepatitis C treatment. Enanta added $4.70 to $51.32.

Drugmaker Gilead Sciences tumbled 14.3 percent after pharmacy benefits manager Express Scripts said it will no longer cover two of Gilead's hepatitis C drugs as part of an effort to battle the high cost of treatment for the disease. Gilead slid $15.55 to $92.90.

News that Ocwen Financial's executive chairman will resign as part of a settlement that also provides $150 million to homeowners sent shares in the mortgage servicer down 26.9 percent. The stock shed $5.89 to $16.01.

The price of U.S. oil fell on expectations of a further buildup in supplies both in the U.S. and from OPEC producers. Benchmark U.S. crude fell $1.26 to close at $55.26 a barrel in New York. Oil has plunged since peaking at $107 a barrel in June.

Several oil production and exploration companies tumbled as the slide in oil prices deepened Monday.

Nabors Industries fell 53 cents, or 3.9 percent, to $13.10, while Chesapeake Energy slid $1.44, or 7.3 percent, to $18.42. Range Resources shed $2.80, or 4.7 percent, to $57.07. Southwestern Energy dropped $1.69, or 5.5 percent, to $29.31.

In other energy futures trading, wholesale gasoline fell 2.5 cents to close at $1.535 a gallon, while heating oil fell 1.1 cents to close at $1.951 a gallon.

Natural gas fell 32 cents to close at $3.144 per 1,000 cubic feet. Natural gas has fallen 15 percent over the past three trading sessions to its lowest level since January 2013 on forecasts for milder winter weather.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.16 percent.

Metals prices closed lower. Gold fell $16.20 to $1,179.80 an ounce. Silver fell 34 cents to $15.69 an ounce and copper lost a penny to $2.87 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	64.73	points or ▲	0.36%	on	Tuesday, 23 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,024.17	▲	64.73	▲	0.36%		
	Nasdaq____	4,765.42	▼	-16.00	▼	-0.33%		
	S&P_500___	2,082.17	▲	3.63	▲	0.17%		
	30_Yr_Bond____	2.85	▲	0.10	▲	3.71%		

NYSE Volume	 3,017,202,500 	 	 	 	 	  		 
Nasdaq Volume	 1,560,083,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,598.18	▲	21.44	▲	0.33%		
	DAX_____	9,922.11	▲	56.35	▲	0.57%		
	CAC_40__	4,314.97	▲	60.54	▲	1.42%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,356.40	▼	-57.70	▼	-1.07%		
	Shanghai_Comp	3,032.61	▼	-94.83	▼	-3.03%		
	Taiwan_Weight	9,097.71	▲	2.71	▲	0.03%		
	Nikkei_225___	17,635.14	▲	13.74	▲	0.08%		
	Hang_Seng.__	23,333.69	▼	-74.88	▼	-0.32%		
	Strait_Times.__	3,332.51	▲	1.55	▲	0.05%		
	NZX_50_Index_	5,552.10	▲	10.36	▲	0.19%		

http://finance.yahoo.com/news/dow-tops-18-000-points-213340481.html

*Dow tops 18,000 points as US economy surges ahead

Dow tops 18,000 for the first time; Traders are encouraged by surging US economic growth*
Associated Press
By Alex Veiga, AP Business Writer

In a year full of market milestones, Wall Street crushed a couple more Friday, lifting the Dow Jones industrial average past the 18,000-point mark for the first time and delivering the Standard & Poor's 500 index its second record-high close in two days.

Investors welcomed the latest encouraging news on the economy as the government said the U.S. grew at the fastest pace in more than a decade in the third quarter. The economic report card raised expectations for greater demand for fuel, driving oil prices higher and giving some respite to energy stocks, which have been hammered in concert with the slide in oil prices this year.

The rally gave the Dow and the S&P 500 their fifth straight gain. The indexes have recovered the last of the ground they lost in an early-December slump. It also marked the 51st all-time high for the S&P 500 and the 36th for the Dow this year, according to S&P Dow Jones Indices.

"This is going to end up being a bit better of a year for stocks and bonds than most people thought coming in," said Bob Doll, chief equity strategist at Nuveen Asset Management. "The economy caught some steam and it's able to stand up with its own two feet."

Despite weak growth overseas, geopolitical troubles and other concerns, investors have repeatedly bet on the U.S. economy and corporate earnings growth this year, pushing stock prices higher.

The market has been going steadily higher for the last two weeks after hitting a recent low of 17,069 on Dec. 16 as traders worried about plunging oil prices and a sharp drop in Russia's currency. Investors have been encouraged by signs of strength in the U.S. economy and reassurances that the Federal Reserve won't raise interest rates soon. Those trends bode well for the bull market run, which is on track to mark its sixth year in March.

And yet, the indexes' new heights have made the market more expensive. At their current price, investors are paying $17.60 for every $1 in earnings for companies in the S&P 500. That's above the long-term average price-to-earnings ratio of $16.

Even so, stocks are not overvalued, said Cameron Hinds, regional chief investment officer at Wells Fargo Private Bank.

"You have to understand that U.S. economic output is at an all-time high and corporate profits are at an all-time high," Hinds said. "Bull markets typically don't die purely of old age, they tend to die of recessions and overvaluation and perhaps policy mistakes, and we don't see any of those on the horizon."

All told, the Dow gained 64.73 points to 18,024.17 That's up 0.4 percent from its previous record close on Monday. The latest close is the Dow's second 1,000-point milestone this year after closing above 17,000 for the first time in July.

The S&P 500 rose 3.63 points to 2,082.17. That's a gain of 0.2 percent from its own all-time recorded a day earlier.

The Nasdaq composite fell 16 points, or 0.3 percent, to 4,765.42.

All told, the S&P 500 is up 12.7 percent this year, while the Dow has gained 8.7 percent. The Dow, which has just 30 stocks, has been held back by a slump in Chevron as the price of oil collapsed and by a 14 percent drop in IBM.

The market started off Tuesday's record run early in the day, with the Dow and the S&P opening slightly higher. Shortly after, the Dow topped 18,000 points for the first time, while the S&P extended beyond the all-time high from the day before.

The Nasdaq trailed the other two indexes, weighed down by a broad slide in biotech stocks.

Express Scripts, the nation's largest pharmacy benefits manager, is putting pressure on drugmakers like Gilead Sciences and others to lower prices. Gilead shed $3.45, or 3.7 percent, to $89.45. Express Scripts rose $3.55, or 4.3 percent, to $85.88.

Investors were monitoring a mixed bag of economic reports Tuesday.

The Commerce Department reported that the economy grew at a 5 percent annual rate in the July-September period, powered by stronger consumer spending and business investment. That's the fastest quarterly growth since the summer of 2003.

Consumer spending grew at the fastest pace in three months in November, while income posted the best gain in five months. Factory orders for long-lasting manufactured goods declined last month. And sales of new homes slid 1.6 percent in November to a seasonally adjusted annual rate of 438,000, the second consecutive monthly decline.

Oil prices stabilized after a recent rout. Benchmark U.S. crude rose $1.86 to close at $57.12 a barrel. The price has fallen by about half from a peak of $107 a barrel in June due to abundant supplies and waning global demand for energy.

Brent crude, a benchmark for international oils used by many U.S. refineries, rose $1.58 to close at $61.69 in London.

In other futures trading, wholesale gasoline rose 3.5 cents to close at $1.570 a gallon, while heating oil added 4 cents to close at $1.991 a gallon. Natural gas rose 2.7 cents to close at $3.171 per 1,000 cubic feet.

Precious and industrial metals futures closed mixed.

Gold slipped $1.80 to $1,178 an ounce. Silver edged up eight cents to $15.77 an ounce and copper slipped less than a penny to $2.87 a pound.

The rally in stocks dampened demand for bonds, pushing U.S. government bond prices lower. The yield on the 10-year Treasury note rose to 2.26 percent.

On Wednesday, U.S. and European markets close early ahead of the Christmas holiday.


----------



## bigdog

*MERRY XMAS ALL

U.S. stock markets reopen on Friday.*

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	6.04	points or ▲	0.03%	on	Wednesday, 24 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,030.21	▲	6.04	▲	0.03%		
	Nasdaq____	4,773.47	▲	8.05	▲	0.17%		
	S&P_500___	2,081.88	▼	-0.29	▼	-0.01%		
	30_Yr_Bond____	2.83	▼	-0.02	▼	-0.63%		

NYSE Volume	 1,422,401,880 	 	 	 	 	  		 
Nasdaq Volume	 716,583,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,609.93	▲	11.75	▲	0.18%		
	DAX_____	9,922.11	▲	56.35	▲	0.57%		
	CAC_40__	4,295.85	▼	-19.12	▼	-0.44%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,369.50	▲	13.10	▲	0.24%		
	Shanghai_Comp	2,972.53	▼	-60.08	▼	-1.98%		
	Taiwan_Weight	9,186.18	▲	88.47	▲	0.97%		
	Nikkei_225___	17,854.23	▲	219.09	▲	1.24%		
	Hang_Seng.__	23,349.34	▲	15.65	▲	0.07%		
	Strait_Times.__	3,345.91	▲	13.40	▲	0.40%		
	NZX_50_Index_	5,557.42	▲	5.32	▲	0.10%		

http://finance.yahoo.com/news/us-stocks-eke-gains-abbreviated-180827613.html

*US stocks eke out gains in abbreviated trading day

Slight gains for most US indexes a day after Dow industrials close above 18,000 for first time*
Associated Press
By Alex Veiga, AP Business Writer

Major U.S. stock indexes ended mostly higher on Wednesday, with the Dow Jones industrial average adding modestly to its gains a day after closing above 18,000 for the first time.

It was the Dow's sixth straight gain, coming during a half-day trading session ahead of the Christmas holiday.

Investors welcomed Labor Department data showing that applications for unemployment benefits fell last week to the lowest level in seven weeks. The news came a day after the Commerce Department estimated that the economy grew in the July-September quarter at the fastest pace in 11 years.

The unemployment data show steady improvement in the labor market, which is positive news for the economy.

"We're still giddy after yesterday's GDP (report)," said Chris Gaffney, a senior market strategist at EverBank Wealth Management. "That's what's mainly driving this market."

The Dow gained 6.04 points Wednesday to close at 18,030.21. That's up 0.03 percent from a day earlier.

The Standard & Poor's 500 index slipped 0.29 points, or 0.01 percent, to 2,081.88. That's slightly below the S&P's most-recent all-time high recorded on Tuesday.

The Nasdaq composite added 8.05 points, or 0.2 percent, to 4,773.47.

U.S. government bond prices rose. The yield on the 10-year Treasury note dipped to 2.26 percent.

The Dow and S&P 500 have recovered the last of the ground they lost in an early-December slump.

The stock market got off to a positive start early Wednesday following the labor market report and held onto to its gains throughout much of the abbreviated trading session. Shortly before the stock market closed at 1:00 p.m. Eastern Time, the S&P 500 turned lower.

The stock market has been mostly trending higher the last two weeks after hitting a recent low of 17,069 on Dec. 16 as traders worried about plunging oil prices and a sharp drop in Russia's currency.

Investors have been encouraged by corporate earnings growth and signs of a strengthening U.S. economy.

Consumer spending and personal income have been rising. The economy also has been creating more jobs. In the first 11 months of this year, employers have added 2.65 million jobs. That already makes 2014 the best year for hiring since 1999.

In addition, remarks last week by the Federal Reserve reassured investors that the central bank won't raise interest rates soon.

With just one week left until 2015, the S&P 500 is up 12.6 percent this year, not including dividends, while the Dow is up 8.8 percent. The Nasdaq is up 14.3 percent.

"We'll look for more volatility next year, but we still expect a buy-on-the-dips, grind-higher equity market," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.

Utilities stocks were among the biggest gainers Wednesday. The sector is up 26.4 percent this year. Investors often turn to utilities as a safe haven during periods of market volatility.

"Possibly, people just want to get a bit more defensive in respect to their gains going into the end of the year," Gaffney said.

Seven of the 10 sectors in the S&P 500 fell, with energy stocks declining the most. The sector has fallen 8.9 percent this year as the slide in oil prices has deepened.

The price of benchmark U.S. crude oil fell $1.28 to close at $55.84 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.45 to close at $60.24 a barrel in London.

Oil prices have been a major focus in markets over the past few weeks as they have fallen by about a half since the summer.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 5.8 cents to close at $1.513 a gallon.

”” Heating oil fell 6.7 cents to close at $1.924 a gallon.

”” Natural gas fell 14.1 cents to close at $3.030 per 1,000 cubic feet.

In metals trading, gold fell $4.50 to $1,173.50 an ounce, silver fell 6 cents to $15.71 an ounce and copper fell a penny to $2.85 a pound.

U.S. stock markets reopen on Friday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	23.5	points or ▲	0.13%	on	Friday, 26 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,053.71	▲	23.50	▲	0.13%		
	Nasdaq____	4,806.86	▲	33.39	▲	0.70%		
	S&P_500___	2,088.77	▲	6.89	▲	0.33%		
	30_Yr_Bond____	2.81	▼	-0.02	▼	-0.71%		

NYSE Volume	 1,704,743,880 	 	 	 	 	  		 
Nasdaq Volume	 897,046,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,609.93	▲	11.75	▲	0.18%	closed Jan 26	
	DAX_____	9,922.11	▲	56.35	▲	0.57%	closed Jan 26	
	CAC_40__	4,295.85	▼	-19.12	▼	-0.44%	closed Jan 26	

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,369.50	▲	13.10	▲	0.24%	closed Jan 26	
	Shanghai_Comp	3,157.60	▲	85.07	▲	2.77%		
	Taiwan_Weight	9,214.07	▲	55.37	▲	0.60%		
	Nikkei_225___	17,818.96	▲	10.21	▲	0.06%		
	Hang_Seng.__	23,349.34	▲	15.65	▲	0.07% closed Jan 26		
	Strait_Times.__	3,353.68	▲	7.77	▲	0.23%		
	NZX_50_Index_	5,557.42	▲	5.32	▲	0.10% closed Jan 26		

http://finance.yahoo.com/news/us-stocks-edge-higher-quiet-145936918.html

*US stocks edge higher in quiet trading

US stocks edge higher in quiet, post-holiday trading; Asian markets gain*
Associated Press
By Alex Veiga, AP Business Writer

Major U.S. stock indexes moved higher Friday afternoon, with the Dow Jones industrial average and Standard & Poor's 500 index on track for new highs. Falling oil prices helped bolster expectations for stronger consumer spending heading into next year. Utilities stocks were among the biggest gainers in light trading a day after Christmas.

KEEPING SCORE: The Dow Jones industrial average rose 57 points, or 0.3 percent, to 18,087 as of 3:17 p.m. Eastern time. The Standard & Poor's 500 gained 10 points, or 0.5 percent, to 2,092. The Nasdaq composite added 41 points, or 0.9 percent, to 4,814.

ENERGY: Benchmark U.S. crude oil fell $1.11 to close at $54.73 a barrel. Oil prices have been a major focus in markets over the past few weeks. They have fallen by about a half since the summer as traders worry that there won't be enough global demand for the abundant supplies of oil being produced.

THE QUOTE: Investors are cheering the slide in oil prices, anticipating the trend should help boost consumer spending, which accounts for 70 percent of the U.S. economy, said Phil Blancato, CEO and president of Ladenburg Thalmann Asset Management.

Also giving the market a lift: Money managers typically put remaining cash back to work in their funds ahead of the end of the year.

"They realize they're in the strongest spending season of the year, so it's hard not to find good data," Blancato said. "There's lighter volume with people being out of the office, so there's a lot on your side that's going to drive the market."

SECTOR VIEW: The 10 sectors in the S&P 500 index moved higher, led by utilities stocks. The sector is up 27.9 percent this year. Celgene notched the biggest gain among individual stocks in the S&P 500, adding $4.14, or 3.8 percent, to $113.75. Newfield Exploration declined the most, shedding 74 cents, or 2.7 percent, to $27.12.

BUMPING UP BIOTECH: Shares in two biotech companies surged. Cytokinetics gained 5.3 percent on news the company will continue advancing development of a muscle-weakness treatment with its partner, Astellas Pharma. The stock rose 31 cents to $6.18. Juno Therapeutics climbed 17.3 percent. The company closed its initial public offering on Wednesday. The stock gained $6.93 to $46.97.

HIGH ON VIRGIN: Virgin America jumped 6.7 percent after several financial firms issued bullish recommendations for the airline company's stock. Its shares added $2.73 to $43.73.

MARKETS OVERSEAS: Major European markets were closed. In Asia, South Korea's Kospi gained 0.1 percent, while the Shanghai Composite Index rose 2.8 percent, led by gains transportation and property development shares. In Japan, the Nikkei 225 rose 0.1 percent amid expectations of further government stimulus.

"That's certainly a positive for global markets, hopefully global growth and a positive for our market as well," said David Chalupnik, head of equities at Nuveen Asset Management.

BONDS: U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.25 percent.

COMMODITIES: Most metals prices rose. Gold gained $21.80 to $1,195.30 an ounce. Silver rose 44 cents to $16.15 an ounce, and copper fell four cents to $2.81 an ounce.

In other energy trading, Brent crude, a benchmark for international oils used by many U.S. refineries, fell 79 cents to close at $59.45 a barrel in London.

On the NYMEX, wholesale gasoline fell 0.4 cent to close at $1.509 a gallon, heating oil fell 1.6 cents to close at $1.908 a gallon and natural gas fell 2.3 cents to close at $3.007 per 1,000 cubic feet.

1871


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-15.48	points or ▼	-0.09%	on	Monday, 29 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,038.23	▼	-15.48	▼	-0.09%		
	Nasdaq____	4,806.91	▲	0.05	▲	0.00%		
	S&P_500___	2,090.57	▲	1.80	▲	0.09%		
	30_Yr_Bond____	2.78	▼	-0.04	▼	-1.35%		

NYSE Volume	 2,426,284,000 	 	 	 	 	  		 
Nasdaq Volume	 1,198,325,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,633.51	▲	23.58	▲	0.36%		
	DAX_____	9,927.13	▲	5.02	▲	0.05%		
	CAC_40__	4,317.93	▲	22.08	▲	0.51%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,447.00	▲	77.50	▲	1.44%		
	Shanghai_Comp	3,168.02	▲	10.41	▲	0.33%		
	Taiwan_Weight	9,286.28	▲	67.78	▲	0.74%		
	Nikkei_225___	17,729.84	▼	-89.12	▼	-0.50%		
	Hang_Seng.__	23,773.18	▲	423.84	▲	1.82%		
	Strait_Times.__	3,367.69	▲	14.01	▲	0.42%		
	NZX_50_Index_	5,592.33	▲	34.91	▲	0.63%		

http://finance.yahoo.com/news/stocks-mostly-gain-despite-fears-215135717.html

*Stocks mostly gain despite new fears over Greece

US stocks close mostly higher in light trading despite new fears over Greece's bailout*
Associated Press
By Bernard Condon, AP Business Writer

NEW YORK (AP) -- U.S stocks inched mostly higher in light trading on Monday as investors shrugged off falling energy prices, a plunging Russian ruble and fears that Greece could renege on its bailout.

Stocks wavered throughout the day, with the Dow Jones industrial average moving between gains and losses several times. In the end the blue-chip index closed down slightly, but other major indexes recorded tiny gains.

"Most of the bad news came from overseas ... and that makes the U.S. market more attractive," said Jack Ablin, chief investment officer at BMO Private Bank. "Investors are shifting money from overseas."

The Standard & Poor's 500 index rose 1.80 points, or 0.1 percent, to 2,090.57. The Dow fell 15.48 points, or 0.1 percent, to 18,038.23. The Nasdaq composite rose 0.05 points to 4,806.91

With little economic or company developments in the U.S., investors focused on news that Greece will have to call snap elections next month that could bring more economic turmoil to the country. The opposition Syriza party, which is against terms of the international bailout of the country, is leading in the polls.

The Athens exchange closed with a loss of 4 percent after falling as much as 11 percent earlier. Several European markets also slumped, with Italy's benchmark index losing 1.1 percent.

In Russia, the ruble fell 8 percent against the U.S. dollar after a rally last week. Russian monetary officials have made stabilizing the currency a priority amid slumping oil revenues and unease about the country's economic outlook.

Despite the troubles abroad developing for several weeks now, U.S. stocks have been rising on optimism over the U.S. economy.

Employers are on track to hire nearly 3 million workers this year, the most since the dot-com boom year of 1999. The unemployment rate has dropped to 5.8 percent, down about a percentage point since the start of the year. And the U.S. economy grew at an annualized rate of 5 percent in the July-September quarter, the fastest in 11 years.

On Monday, six of 10 industry sectors in the S&P 500 rose, led by a 1.1 percent gain in utilities.

Trading was light ahead of the New Year's holiday later this week. Volume was about two-thirds of the recent average on the New York Stock Exchange

John Manley, chief equity strategist at Wells Fargo Fund Management, said he expects that stocks are being pushed higher in part from what he calls "sleepy heads," investors who tend to put off plowing money into IRAs until the closing days of each year.

"All of a sudden they wake up, and realize, 'I need to do this to get my tax deduction,'" he says.

The S&P 500 has hit record highs more than 50 times so far this year and has tripled from the 12-year low it reached in the depths of the financial crisis in 2009.

The index now trades at 17.8 times what companies in the index are expected to earn over the next 12 months, according to FactSet, a data provider. That is above the 10-year average of about 15 times.

In other developments overseas, China's official Xinhua News Agency reported Sunday that regulators will change accounting rules for bank deposits to free up more money for lending. That could help boost economic growth, which slumped to a five-year low in the latest quarter.

The news helped lift Asian markets. Hong Kong's Hang Seng index gained 1.8 percent.

Among stocks making news:

”” The Manitowoc Co. rose $1.87, or 9 percent, to $22.79 on news that activist investor Carl Icahn took a 7.8 percent stake in the crane maker and is pushing for the company to split into two.

”” Gilead Sciences rose $3.51 to $97.30 for a gain of 3.7 percent, one of the biggest in the S&P 500. The biotechnology company expanded an agreement with a Johnson & Johnson unit to develop and sell an HIV treatment.

Benchmark U.S. crude dropped $1.12 to $53.61 a barrel in New York. On Friday, the contract fell $1.11 to settle at $54.73.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 5.6 cents to close at $1.453 a gallon.

”” Heating oil fell 5.9 cents to close at $1.849 a gallon.

”” Natural gas rose 18.2 cents to close at $3.189 per 1,000 cubic feet.

In metals trading, gold lost $13.40 to $1,181.90 an ounce, silver fell 37 cents to $15.78 an ounce and copper edged up less than a penny to $2.82 a pound.

The dollar rose to 120.71 yen from 120.35 Friday. The euro edged down to $1.2153 from Friday's $1.2205.

The 10-year Treasury note rose. The yield fell to 2.21 percent from 2.25 percent on Friday


----------



## bigdog

Source: http://finance.yahoo.com 

*HAPPY NEW YEAR *  

 *The NYSE DOW closed  	LOWER ▼	-55.16	points or ▼	-0.31%	on	Tuesday, 30 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,983.07	▼	-55.16	▼	-0.31%		
	Nasdaq____	4,777.44	▼	-29.47	▼	-0.61%		
	S&P_500___	2,080.35	▼	-10.22	▼	-0.49%		
	30_Yr_Bond____	2.76	▼	-0.02	▼	-0.65%		

NYSE Volume	 2,407,187,000 	 	 	 	 	  		 
Nasdaq Volume	 1,231,196,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,547.00	▼	-86.51	▼	-1.30%		
	DAX_____	9,805.55	▼	-121.58	▼	-1.22%		
	CAC_40__	4,245.54	▼	-72.39	▼	-1.68%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,392.30	▼	-54.70	▼	-1.00%		
	Shanghai_Comp	3,165.81	▼	-2.20	▼	-0.07%		
	Taiwan_Weight	9,268.43	▼	-17.85	▼	-0.19%		
	Nikkei_225___	17,450.77	▼	-279.07	▼	-1.57%		
	Hang_Seng.__	23,501.10	▼	-272.08	▼	-1.14%		
	Strait_Times.__	3,366.11	▼	-1.58	▼	-0.05%		
	NZX_50_Index_	5,577.20	▼	-15.13	▼	-0.27%		

http://finance.yahoo.com/news/global-markets-fall-holiday-nears-185501554.html

*Global markets fall as New Year holiday nears

Global markets slip as investors prepare for New Year holiday and weigh uncertainty in Greece*
Associated Press
By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Lingering concerns about the political future of Greece pushed U.S. and global stock markets modestly lower on Tuesday.

Trading was slow as most investors have closed their books for 2014. It was the eighth-slowest day of the year on the New York Stock Exchange.

As been the case several times this year, investors turned their eyes to Europe.

Greek stocks stabilized after a volatile day Monday, when the country's government was forced to call elections that could create more economic turmoil. Investors worry that the elections might be won by the left-wing opposition Syriza party, which opposes the austerity measures associated with Greece's international financial rescue deal. The Athens stock market plunged as much as 11 percent on Monday before recovering some of those losses to close down 4 percent that day.

"An election puts all sorts of doubt on the future of the bailout agreement," said Stan Shamu, a market strategist at IG Markets. "Potentially markets had already priced this in, but I would still remain cautious around Greece."

U.S. stocks opened lower and stayed down throughout the day. The Dow Jones industrial average lost 55.16 points, or 0.3 percent, to 17,983.07. The Standard & Poor's 500 index lost 10.22 points, or 0.5 percent, to 2,080.35 and the Nasdaq composite fell 29.47 points, or 0.6 percent, to 4,777.44.

European markets also fell. France's CAC 40 lost 1.7 percent, Germany's DAX declined 1.2 percent and Britain's FTSE 100 dropped 1.3 percent. Greece's stock market fell 0.4 percent.

At this point, most investors are done trading for the year. The market is also expected to be quiet Wednesday ahead of New Year's Day holiday, however oftentimes the last trading day of the year does see a modest burst of trading as some investors shift their portfolios around for tax purposes.

With one more trading day in 2014, the S&P 500 is up 12.6 percent for the year, or 15.4 percent including dividends. That gain is almost double what stock market strategists expected at the beginning of the year.

"There were some negative surprises along the way, including the Ebola scare and increasing social tensions around the globe," Gary Thayer, chief macro strategist at Wells Fargo Advisors, wrote in a note to investors. "However, U.S. markets were able to weather these problems as (the U.S. economy) improved."

In other markets, the dollar fell against the euro and yen. The yield on the benchmark 10-year U.S. Treasury note fell to 2.19 percent from 2.20 percent Monday.

Benchmark U.S. crude rose 51 cents to settle at $54.12 a barrel in New York. On Monday, the contract plunged $1.12 to settle at $53.61. Brent crude, a benchmark for international oils used by many U.S. refineries, edged up two cents to close at $57.90 a barrel in London.

In other energy commodities, wholesale gasoline was little changed at $1.454 a gallon, heating oil rose two cents to $1.869 a gallon and natural gas fell 10.5 cents to close at $3.094 per 1,000 cubic feet.

Gold rose $18.50 to $1,200.40 an ounce, silver rose 50 cents to $16.28 an ounce and copper rose three cents to $2.85 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-160	points or ▼	-0.89%	on	Wednesday, 31 December 2014	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,823.07	▼	-160.00	▼	-0.89%		
	Nasdaq____	4,736.05	▼	-41.39	▼	-0.87%		
	S&P_500___	2,058.90	▼	-21.45	▼	-1.03%		
	30_Yr_Bond____	2.75	▼	-0.01	▼	-0.33%		

NYSE Volume	 2,581,261,750 	 	 	 	 	  		 
Nasdaq Volume	 1,434,581,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,566.09	▲	19.09	▲	0.29%		
	DAX_____	9,805.55	▼	-121.58	▼	-1.22%		
	CAC_40__	4,272.75	▲	27.21	▲	0.64%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,388.60	▼	-3.70	▼	-0.07%		
	Shanghai_Comp	3,234.68	▲	68.86	▲	2.18%		
	Taiwan_Weight	9,307.26	▲	38.83	▲	0.42%		
	Nikkei_225___	17,450.77	▼	-279.07	▼	-1.57%		
	Hang_Seng.__	23,605.04	▲	103.94	▲	0.44%		
	Strait_Times.__	3,365.15	▼	-0.96	▼	-0.03%		
	NZX_50_Index_	5,568.28	▼	-8.92	▼	-0.16%		

http://finance.yahoo.com/news/us-stocks-post-sixth-straight-213754344.html

*US stocks post sixth straight year of gains

Stocks fall on the last day of trading for 2014; S&P 500 ends the year up double digits*
Associated Press
By Ken Sweet, AP Business Writer 

NEW YORK (AP) -- U.S. stocks ended a strong 2014 with moderate declines Wednesday.

Even with the losses, the Standard & Poor's 500 index finished the year with an 11.4 percent increase, its sixth straight year of gains. Oil, by contrast, had its worst annual performance since 2008, ending down 45 percent for 2014 after a sharp slump in the second half of the year.

The 11.4 percent rise in the S&P 500 was double what strategists expected for the market at the beginning of the year.

"It turned out to be a great year for U.S. economic growth, which got us higher corporate profits as well," said Cameron Hinds, regional chief investment officer for Wells Fargo Private Bank.

Most strategists believe the stock market will also rise in 2015, but they expect more modest gains of between 4 percent and 6 percent.

There was no major catalyst for Wednesday's selling. Trading has been slow all week because of the holidays and most fund managers have closed their books for the year. However, some investors do reshuffle their portfolios in the last few days of the year for tax purposes.

Roughly 2.6 billion shares were traded on the New York Stock Exchange, compared with the 3.6 billion typically traded on an average day.

Energy stocks edged lower as the price of oil fell. Benchmark U.S. crude dropped 85 cents to $53.27 a barrel in New York. Oil has plunged since June amid abundant supplies and weak global demand. In total, the price fell 45 percent in 2014, the worst year for crude since the 2008 financial crisis.

Oil drillers fell the most Wednesday. Diamond Offshore was the biggest decliner in the S&P 500, declining 3.6 percent. The energy component of the S&P 500 is down 10 percent this year

"I think most of the selling you're seeing today is related to the fall in oil, as well as repositioning before the end of the year," Hinds said.

U.S. markets will be closed Thursday for New Year's Day and will reopen Friday.

On Wednesday, the Dow Jones industrial average fell 160 points, or 0.9 percent, to 17,823.07. It ended 2014 up 7.5 percent, lagging behind the S&P 500 and Nasdaq.

The Nasdaq lost 41.39 points, or 0.9 percent, to 4,736.05. The Nasdaq rose 13.4 percent in 2014.

The S&P 500 fell 21.45 points, or 1 percent, to 2,058.90.

Prices for U.S. government bonds rose. The yield on the 10-year Treasury note edged down to 2.17 percent. Bonds were an unexpected strong spot for the market in 2014. The 10-year note started 2014 at around 2.99 percent. Bond yields fall as prices rise.

Gold fell $16.30 to $1,184.10 an ounce. The precious metal barely budged in 2014, falling 0.2 percent, compared with its drop of 28.3 percent in 2013.

Silver fell 68 cents to $15.60 an ounce and copper fell three cents to $2.83 a pound.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 1.8 cents to $1.435 a gallon.

”” Heating oil fell 2.2 cents to close at $1.847 a gallon.

”” Natural gas fell 20.5 cents to close at $2.889 per 1,000 cubic feet


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	9.92	points or ▲	0.06%	on	Friday, 2 January 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,832.99	▲	9.92	▲	0.06%		
	Nasdaq____	4,726.81	▼	-9.24	▼	-0.20%		
	S&P_500___	2,058.20	▼	-0.70	▼	-0.03%		
	30_Yr_Bond____	2.70	▼	-0.05	▼	-1.89%		

NYSE Volume	 2,708,660,750 	 	 	 	 	  		 
Nasdaq Volume	 1,348,423,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,547.80	▼	-18.29	▼	-0.28%		
	DAX_____	9,764.73	▼	-40.82	▼	-0.42%		
	CAC_40__	4,252.29	▼	-20.46	▼	-0.48%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,415.00	▲	26.40	▲	0.49%		
	Shanghai_Comp	3,234.68	▲	68.86	▲	2.18%		
	Taiwan_Weight	9,307.26	▲	38.83	▲	0.42%		
	Nikkei_225___	17,450.77	▼	-279.07	▼	-1.57%		
	Hang_Seng.__	23,857.82	▲	252.78	▲	1.07%		
	Strait_Times.__	3,370.59	▲	5.44	▲	0.16%		
	NZX_50_Index_	5,568.28	▼	-8.92	▼	-0.16%		

http://finance.yahoo.com/news/asia-stocks-higher-first-day-2015-trading-062601836--finance.html

*US stocks end mixed as manufacturing growth slows*
Associated Press
By STEVE ROTHWELL

NEW YORK (AP) — Stocks got off to a sluggish start on the first day of trading in the New Year, ending the day mixed as a report showed that manufacturing growth slowed in December.

U.S. factory activity grew at the slowest pace in six months last month, weakened by declines in orders and production, according to the Institute for Supply Management. While the sector is still in good health, growth was slower than economists had forecast.

The stock market climbed to record levels at the end of 2014 and investors may now be reassessing the outlook for the market at the start of the year, said Brad McMillan, chief investment officer for Commonwealth Financial, an independent broker-dealer firm. While growth prospects in the U.S. look decent, in Europe and Asia they are less encouraging.

Investors are "stepping back and saying, 'now we're in the New Year, let's take a fresh look,' " said McMillan. "There's certainly some degree of, I wouldn't say pessimism, but readjustment, going on."

The Standard & Poor's 500 index fell 0.70 points, or less than 0.1 percent, to 2,058.20. The Dow Jones industrial average rose 9.92 points, or less than 0.1 percent, to 17,832.99. The Nasdaq composite dropped 9.24 points, or 0.2 percent, to 4,726.81.

Stocks had another good year in 2014, but the rally faded in the final days of the year. The S&P 500 climbed 11.4 percent, after rising 29.6 percent in 2013. To justify those gains, company earnings will have to keep growing.

"We don't think the U.S. equity market is going to do anywhere near as well this year" as it has in recent years, said Dan Morris, global investment strategist at TIAA-CREF, an investment manager. "There's a lot more that could go wrong than could go right in the U.S."

Morris says stock investors should expect returns in the single digits this year, and should also brace themselves for higher levels of volatility as the Federal Reserve moves toward its first rate increase since 2006.

On Friday, stocks started out with solid gains, then fell back after the ISM published its manufacturing report. After drifting lower for much of the afternoon, the market recovered slightly and ended the day little changed.

U.S. crude fell after moving between losses and small gains. The price dropped 58 cents to $52.69 a barrel in New York. Brent crude, the international standard, declined 91 cents to $56.42.

Declining in oil prices are a boon to consumers, who are paying less for gas, but they hurts energy companies by lowering their revenues. The energy industry accounts for about 10 percent of earnings of companies in the S&P 500 index.

The fall in prices will also mean that oil companies will rein in spending on plants and equipment, said Anastasia Amoroso, global market strategist for J.P. Morgan Funds.

"The benefit of lower oil prices is incremental to the damage that they inflict on other parts of the economy," Amoroso said.

In currency trading, the euro retreated against the dollar. The decline came after European Central Bank President Mario Draghi indicated that the bank could support a government bond-buying program to combat alarmingly low inflation in the eurozone. The currency fell to $1.2003, its lowest level against the dollar in 4-1/2 years.

Investors have a number of concerns about Europe as 2015 begins. Growth is anemic in the region and an election in Greece on Jan. 25 could re-ignite the country's debt crisis if an anti-austerity party wins.

In government bond trading, prices rose. The yield on the 10-year Treasury note fell to 2.11 percent from 2.17 percent on Wednesday. Markets were closed Thursday for the New Year's Day holiday. The dollar also rose against the Japanese yen, climbing 0.6 percent to 120.51.

In metals trading, gold edged up $2.10 to $1,186.20 an ounce, silver rose 17 cents to $15.77 an ounce and copper slipped less than a penny to $2.82 a pound.

In other energy futures trading:

— Wholesale gasoline dropped 3.9 cents to $1.433 per gallon.

— Heating oil fell 3.8 cents to $1.796 a gallon.

— Natural gas rose 11.4 cents to $3.003 per 1,000 cubic feet.

2722


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-331.34	points or ▼	-1.86%	on	Monday, 5 January 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,501.65	▼	-331.34	▼	-1.86%		
	Nasdaq____	4,652.57	▼	-74.24	▼	-1.57%		
	S&P_500___	2,020.58	▼	-37.62	▼	-1.83%		
	30_Yr_Bond____	2.61	▼	-0.09	▼	-3.41%		

NYSE Volume	 3,768,783,750 	 	 	 	 	  		 
Nasdaq Volume	 1,701,850,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,417.16	▼	-130.64	▼	-2.00%		
	DAX_____	9,473.16	▼	-291.57	▼	-2.99%		
	CAC_40__	4,111.36	▼	-140.93	▼	-3.31%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,429.50	▲	14.50	▲	0.27%		
	Shanghai_Comp	3,350.52	▲	115.84	▲	3.58%		
	Taiwan_Weight	9,274.11	▼	-33.15	▼	-0.36%		
	Nikkei_225___	17,408.71	▼	-42.06	▼	-0.24%		
	Hang_Seng.__	23,721.32	▼	-136.50	▼	-0.57%		
	Strait_Times.__	3,328.28	▼	-42.31	▼	-1.26%		
	NZX_50_Index_	5,602.60	▲	34.32	▲	0.62%		

http://finance.yahoo.com/news/markets-plunge-oil-dips-below-212910727.html

*Markets plunge as oil dips below $50; Euro drops on Greece

US stocks plunge as oil falls below $50, raising growth worries; Euro sinks on Greece*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The ongoing slump in the price of oil is starting to become a headache for the stock market.

On Monday, oil plunged, dipping below $50 for the first time in more than five years. The sharp drop prompted a big sell-off, not just in the energy sector, but across the entire stock market.

Stocks had already endured a weak open amid concerns that Greece could exit the euro, adding to worries about the poor outlook for growth in that region. As oil continued to slide, the losses deepened and the Standard & Poor's 500 index ended the day with its biggest loss in three months.

The price of oil has been falling since last summer amid mounting evidence that the world is oversupplied with the commodity after a surge in U.S. production. After six months of falling prices, investors are now getting jittery that the slump is attributable to more than just the supply glut; it could also be signaling a weakening global economy.

"The lower that oil prices go, the more it reinforces into the market's mind that perhaps this is more of a demand issue than a supply issue," said Burt White, Chief Investment Officer at LPL Financial. That raises questions "about the robustness of this recovery."

The S&P 500 index dropped 37.62 points, or 1.8 percent, to 2,020.58. That was the biggest one-day slump for the index since Oct. 9. The Dow Jones industrial average fell 331.34 points, or 1.9 percent, to 17,501.65. The Nasdaq composite fell 74.24 points, or 1.6 percent.

Energy stocks led the drop, plunging 4 percent, as the price of oil closed down $2.65 at $50.04 a barrel, after dipping below $50 during trading. But the declines were broad, and even airline stocks, usually a beneficiary of lower oil prices, ended the day lower.

Most analysts and economists say that, on balance, a decline in oil prices is a boon for the broader economy because it reduces energy costs for industrial companies. Lower gas prices also put more money in the pockets of consumers.

But there are downsides as well. As the price of oil slumps, some companies in the energy industry will go out of business. Not only will that cost jobs in the sector, but it will also cut spending on things like plants and equipment.

Transocean, a company that provides offshore drilling services to oil companies, was among the biggest decliners in the S&P 500 index on Monday. The company's stock slumped $1.28, or 7.1 percent, to $16.84.

Another area for concern is Europe.

Investors were already worried about the poor growth prospects in the euro region, and the impact that it would have on global growth. Now, they also have to contend with renewed speculation that Greece may exit the euro.

European stock markets slumped and the euro plunged against the dollar on reports that German Chancellor Angela Merkel no longer believes it would be too risky for the 19-member eurozone if Greece dropped out of the currency bloc. Elections in Greece this month could be won by the Syriza party, which wants to renegotiate the terms of the country's international bailout, threatening its place in the euro group.

The euro currency was already under pressure from expectations that the European Central Bank will expand its monetary stimulus as the region's economy struggles.

On Monday, the currency was trading at $1.1939 after falling to a five-year low of $1.1862.

The outlook for economic growth in Europe and other regions matters to companies in the U.S., as nearly half the sales from S&P 500 companies are generated outside of the U.S.

"Our companies do a lot of business with Europe, we sell a lot of goods and services there," said Scott Wren, senior global equity strategist at the Wells Fargo Investment Institute. "Anything that hurts consumer confidence and business in Europe is going to hurt economic growth."

In U.S. government bond trading, prices rose as investors moved to buy the safest assets. The yield on the benchmark 10-year Treasury note, which falls when prices rise, dropped to 2.04 percent.

Despite the increase in volatility, analysts are still confident in the outlook for growth in the U.S. and believe that the stock market will hand investors positive returns this year. Some even recommend adding to stock holdings when prices fall.

Just one week ago, the S&P 500 index closed at an all-time high of 2,090.57. The energy sector aside, company earnings should remain strong, and the economy is still growing. Last quarter the U.S. economy expanded at an annual rate of 5 percent.

"When you get some pullbacks, we'll definitely be pounding the table recommending that they put some sideline cash to work," said Wells Fargo's Wren.

In metals trading, prices for precious and industrial metals ended mixed. Gold rose $17.80 to $1,204 an ounce, silver rose 45 cents to $16.21 an ounce and copper fell five cents to $2.77 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-130.01	points or ▼	-0.74%	on	Tuesday, 6 January 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,371.64	▼	-130.01	▼	-0.74%		
	Nasdaq____	4,592.74	▼	-59.84	▼	-1.29%		
	S&P_500___	2,002.61	▼	-17.97	▼	-0.89%		
	30_Yr_Bond____	2.52	▼	-0.08	▼	-3.15%		

NYSE Volume	 4,431,799,500 	 	 	 	 	  		 
Nasdaq Volume	 2,045,365,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,366.51	▼	-50.65	▼	-0.79%		
	DAX_____	9,469.66	▼	-3.50	▼	-0.04%		
	CAC_40__	4,083.50	▼	-27.86	▼	-0.68%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,346.20	▼	-83.30	▼	-1.53%		
	Shanghai_Comp	3,351.45	▲	0.93	▲	0.03%		
	Taiwan_Weight	9,048.34	▼	-225.77	▼	-2.43%		
	Nikkei_225___	16,883.19	▼	-525.52	▼	-3.02%		
	Hang_Seng.__	23,485.41	▼	-235.91	▼	-0.99%		
	Strait_Times.__	3,281.95	▼	-46.33	▼	-1.39%		
	NZX_50_Index_	5,561.38	▼	-41.22	▼	-0.74%		

http://finance.yahoo.com/news/bonds-rally-stocks-oil-prices-195757689.html

*Bonds rally as stocks and oil prices extend slumps

US stocks extend decline; oil drops further, 10-year Treasury yield falls below 2 percent*

Associated Press
By Steve Rothwell, AP Markets Writer 

NEW YORK (AP) -- The U.S. economy ended last year on a tear, but financial markets are saying the outlook for this year is less bright.

Stocks continued to retreat from their recent record highs on Tuesday, weighed down by an ongoing plunge in the price of oil. Bonds rallied as investors bought the safest assets, pushing the yield on the benchmark 10-year Treasury note back below 2 percent for the first time in three months.

The moves suggest that investors have little confidence the U.S. economy will continue to grow at the 5 percent annual pace reached in the final quarter of last year. As a consequence, company earnings will suffer. The reason for the gloomy prognosis is a slowdown in growth elsewhere in world, particularly Europe.

The slump in the price of oil, which dropped well below $50 a barrel Tuesday from $107 in June, has also prompted a sharp shift in investor sentiment.

"Oil prices falling is a good thing for the economy overall," said Randy Frederick, Managing Director of Trading and Derivatives with the Schwab Center for Financial Research. "But there is a point when they fall far enough that it could potentially be a problem."

The Standard & Poor's 500 index dropped 17.97 points, or 0.9 percent, to 2,002.61. The index fell as low as 1,992.44 during the day. The Dow Jones industrial average closed down 130.01 points, or 0.7 percent, at 17,371.64. The Nasdaq composite dropped 59.84 points, or 1.3 percent, to 4,592.74.

While drivers filling up at gas stations are welcoming lower oil prices, investors are getting worried about the consequences of the slump, which has pushed the price of oil down by more than half in six months. On Tuesday, the price of oil fell $2.11 to $47.93.

If prices stay low, some companies in the energy industry will go out of business because the cost of extracting the oil will exceed its price. Not only will that cost jobs in the sector, but it will also lead to lower spending on plants and equipment.

On Tuesday, U.S. Steel said it will temporarily lay off about 750 employees from two plants that make tubular steel used in oil and gas drilling. The Pittsburgh-based company said it is making the moves in response to falling oil prices and competition from foreign companies.

Investors also got some discouraging news on the economy.

A report that orders to U.S. factories fell for a fourth straight month in November stoked investors' concerns about growth. The Commerce Department said Tuesday factory orders dropped 0.7 percent in November after falling by the same amount in October. The weakness was due to decreases in demand for primary metals, industrial machinery and military aircraft.

The Institute for Supply Management said Tuesday that its services index fell to 56.2 last month, down from 59.3 in November.

For some the drop in bond yields is also worrying because it signals a move toward falling prices, or deflation.

Falling prices may intuitively seem attractive, but they can have a damaging impact on a country's growth. That's because consumers and businesses will start to cut back their spending as they wait for prices to drop.

Lower oil prices "are adding to the fear of deflation spreading to the global economy," said Peter Cardillio, chief market economist at Rockwell Global Capital. "That's what the real fear is all about."

Bonds are rallying in part because U.S. yields, even at their current low levels, are attractive to overseas investors. The yield on the 10-year Treasury note, which falls when prices rise, dropped to 1.96 percent from 2.03 percent on Monday.

The yield on the 10-year German government bond, by contrast, is just 0.44 percent, and France's 10-year bond yields 0.74 percent. The comparable Japanese government bond yields 0.28 percent.

Bonds yields in Europe have plummeted as growth in that region has wavered and investors have started to worry that Greece might seek to renegotiate the terms of its bailout and exit the euro bloc if an anti-austerity party wins national elections this month.

Financial stocks fell the most among the 10 industry sectors in the S&P 500 index on Tuesday. Weaker growth would mean less demand for loans, and lower interest rates mean that the profits banks make on loans will be lower.

Among individual stocks, Michael Kors was the biggest loser in the S&P 500.

The stock slumped $6.13, or 8.4 percent, to $66.87 after analysts at Credit Suisse cut their price target on the company's stock to $79 from $103 following what they described as a "dramatic" increase in promotional activity at the luxury retailer, suggesting that it is struggling to maintain growth rates.

AOL was one of the stocks to buck the downward trend. The stock climbed $1.51, or 3.4 percent, to $46.25 after Bloomberg reported that Verizon had approached the company about a potential acquisition or joint venture to expand its mobile video offerings. Verizon gained 47 cents, or 1 percent, to $47.04.

In metals trading, precious metals futures mostly rose. Gold increased $15.40 to $1,219.40 an ounce, silver rose 42 cents to $16.64 an ounce and copper was flat at $2.77 a pound.

In other energy trading, Brent crude, a benchmark for international oils used by many U.S. refineries, fell $2.01 to close at $51.10 in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 2.7 cents to close at $1.354 a gallon.

”” Heating oil fell 2.3 cents to close at $1.726 a gallon.

”” Natural gas rose 5.6 cents to close at $2.938 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	212.88	points or ▲	1.23%	on	Wednesday, 7 January 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,584.52	▲	212.88	▲	1.23%		
	Nasdaq____	4,650.47	▲	57.73	▲	1.26%		
	S&P_500___	2,025.90	▲	23.29	▲	1.16%		
	30_Yr_Bond____	2.51	▼	-0.01	▼	-0.32%		

NYSE Volume	 3,792,335,750 	 	 	 	 	  		 
Nasdaq Volume	 1,889,099,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,419.83	▲	53.32	▲	0.84%		
	DAX_____	9,518.18	▲	48.52	▲	0.51%		
	CAC_40__	4,112.73	▲	29.23	▲	0.72%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,334.50	▼	-11.70	▼	-0.22%		
	Shanghai_Comp	3,373.95	▲	22.51	▲	0.67%		
	Taiwan_Weight	9,080.09	▲	31.75	▲	0.35%		
	Nikkei_225___	16,885.33	▲	2.14	▲	0.01%		
	Hang_Seng.__	23,681.26	▲	195.85	▲	0.83%		
	Strait_Times.__	3,298.36	▲	16.41	▲	0.50%		
	NZX_50_Index_	5,558.06	▼	-3.32	▼	-0.06%		

http://finance.yahoo.com/news/asia-stocks-snap-2-days-losses-growth-woes-060054139--finance.html

*US stocks rise, breaking a string of losses, as oil steadies*
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) ”” Encouraging economic news and a rare rise in oil prices helped give the stock market its first gain in the new year Wednesday.

Major indexes started climbing from the opening bell, following a report from ADP, the payroll processor, which showed that businesses hired more workers last month. Companies added 241,000 workers in December, an increase from the previous month.

The increase offered more evidence that the U.S. economy is on steady ground and gave investors another reason to jump back into the market after five straight days of losses, said Jeff Kravetz, regional investment director at U.S. Bank Wealth Management.

All three major U.S. indexes climbed more than 1 percent. The Standard & Poor's 500 index gained 23.29 points to close at 2,025.90.

The Dow Jones industrial average rose 212.88 points to 17,584.52, and the Nasdaq composite gained 57.73 points to 4,650.47.

Before Wednesday, falling oil prices and concerns about the global economy had knocked the S&P 500 down 2.7 percent, its worst start to a year since 2008.

The recent turbulence is likely just a pause in the stock market's steady run, said Michael Arone, chief investment strategist at State Street Global Advisors.

"It's perfectly normal market activity," Arone said. "Things tend not to go up or down in a straight line."

Major markets in Europe also ended higher for the first time this week. Germany's DAX closed with a gain of 0.5 percent and France's CAC-40 rose 0.7 percent. Britain's FTSE 100 advanced 0.8 percent.

Consumer prices in Europe fell in December for the first time since 2009. The 0.2 percent drop was mainly the result of falling oil prices, something that could help consumers immediately. But falling prices also increase pressure on the European Central Bank to provide more stimulus for the region's flagging economy. Many analysts expect the bank to announce plans to buy government bonds later this month. After the report on prices came out, the euro slipped to $1.1833 from $1.1890.

Markets barely moved following the release of minutes from the Federal Reserve's December policy meeting. Fed officials discussed various risks to the economy, but concluded that the recent big drop in oil prices was likely to end up boosting growth.

The price of oil stabilized near a six-year low. U.S. crude oil rose 72 cents to close at $48.65 a barrel on the New York Mercantile Exchange. The gain, which followed news of a decline in U.S. crude inventories, as only the second in nine trading days.

Crude has fallen by more than half since June as supplies rose. Lower energy costs are a boon to consumers and businesses, but some see the plunge as a worrying sign of weakness in the global economy.

Despite turbulent trading over recent weeks, Kravetz expects 2015 to be another solid year for the stock market.

"We're telling our clients not to get caught up in this short-term volatility. Look at the fundamentals: the job market, corporate balance sheets, economic growth. They're very good."

Among other companies in the news on Wednesday, J.C. Penney soared $1.33, or 20 percent, to $7.89 after the beleaguered retail store posted solid sales late Tuesday. For the nine-week holiday shopping season, the company reported sales growth of nearly 4 percent over the same period in 2013.

Eli Lilly predicted higher revenue and earnings this year as it tries to recover from the loss of patents protecting key drugs. But the forecast fell short of Wall Street's expectations. The company's stock fell 49 cents, or 0.7 percent, to $69.23.

In the bond market, prices for U.S. government Treasurys fell, nudging yields up. The yield on the 10-year Treasury note edged up to 1.96 percent from 1.94 percent the day before.

In the commodity markets, precious and industrial metals dipped. Gold fell $8.70 to $1,210.70 an ounce, silver sank nine cents to $15.54 an ounce and copper lost less than a penny to $2.76 a pound.

Brent crude, a benchmark for international oils used by many U.S. refineries, rose 5 cents to close at $51.15 in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 1.6 cents to close at $1.338 a gallon.

”” Heating oil fell 2.7 cents to close at $1.699 a gallon.

”” Natural gas fell 6.7 cents to close at $2.871 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	323.35	points or ▲	1.84%	on	Thursday, 8 January 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,907.87	▲	323.35	▲	1.84%		
	Nasdaq____	4,736.19	▲	85.72	▲	1.84%		
	S&P_500___	2,062.14	▲	36.24	▲	1.79%		
	30_Yr_Bond____	2.59	▲	0.08	▲	3.10%		

NYSE Volume	 3,840,816,500 	 	 	 	 	  		 
Nasdaq Volume	 2,039,143,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,569.96	▲	150.13	▲	2.34%		
	DAX_____	9,837.61	▲	319.43	▲	3.36%		
	CAC_40__	4,260.19	▲	147.46	▲	3.59%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,359.40	▲	24.90	▲	0.47%		
	Shanghai_Comp	3,293.46	▼	-80.50	▼	-2.39%		
	Taiwan_Weight	9,238.03	▲	157.94	▲	1.74%		
	Nikkei_225___	17,167.10	▲	281.77	▲	1.67%		
	Hang_Seng.__	23,835.53	▲	154.27	▲	0.65%		
	Strait_Times.__	3,345.11	▲	46.75	▲	1.42%		
	NZX_50_Index_	5,574.05	▲	15.99	▲	0.29%		

http://finance.yahoo.com/news/asia-stocks-boosted-us-economic-data-oil-steadying-052408095.html

*US stocks bounce back, recovering from rough start to year*
Associated Press
By STEVE ROTHWELL 

NEW YORK (AP) ”” The stock market is bouncing back from a tough start to 2015.

Investors sent shares sharply higher for a second straight day Thursday, erasing the market's heavy losses from the first few days of the year.

The gains were driven by a combination of positive economic news from the U.S. and hopes for stimulus from Europe's central bank. The price of oil is also showing signs of stabilizing after six months of heavy losses, and there is renewed confidence that the Federal Reserve will keep supporting the economy as growth outside the U.S. appears to be flagging.

The wild swings in stock prices will likely become more common this year as investors try and anticipate when, if at all, the Fed will start to raise interest rates, said JJ Kinahan, chief market strategist at TD Ameritrade.

"People will have to get used to volatility at a higher level," Kinahan said. It's going to be "one of the primary stories for 2015."

The Standard & Poor's 500 index climbed 36.24 points, or 1.8 percent, to 2,062.14. The index is now up 0.2 percent for the year, after falling 2.7 percent in the first three days of trading.

The Dow Jones industrial average gained 323.35 points, or 1.8 percent, to 17,907.87. The Nasdaq composite gained 85.72 points, or 1.8 percent, to 4,736.19.

Comments from Charles Evans, president of the Fed's Chicago branch, late Wednesday gave stocks a lift. Evans said that the U.S. central bank shouldn't rush to raise interest rates, because inflation was likely to remain tame for several years, according to Bloomberg.

The prospect of more stimulus from other central banks is also driving the rebound.

European data Wednesday showed that consumer prices fell in December for the first time since 2009. That increased pressure on the European Central Bank president Mario Draghi to act to support the region's flagging economy.

Many analysts expect the bank to announce a plan this month to buy European government bonds. Such a move, known as quantitative easing, is designed to hold down long-term interest rates and stimulate borrowing and spending.

"Oddly enough, the market was helped by some of the weaker data out of the eurozone," said Quincy Krosby, a market strategist at Prudential Financial. "In many ways, the bad news was the good news."

Investors also got encouraging news on hiring Thursday.

A report showed that fewer Americans applied for unemployment benefits last week. That's a sign that employers expect the economy to keep growing, prompting them to hold on to workers. The Labor Department said Thursday that applications for unemployment benefits fell 4,000 last week to 294,000.

Economists forecast that a government report Friday will show that U.S. employers added 243,000 jobs last month.

Among individual stocks, Constellation Brands was one of the day's biggest gainers.

The company, which owns the Corona and Modelo beer brands, said its fiscal third-quarter earnings climbed thanks to increased beer sales. The earnings surpassed the expectations of Wall Street analysts, and the company also raised its full-year profit forecast. The stock gained $4.59, or 4.5 percent, to $107.64.

In energy trading, oil ended the day fractionally higher after fluctuating between small gains and losses for most of the day.

U.S. crude oil gained 14 cents, or 0.3 percent, to $48.79 a barrel. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 19 cents to close at $50.96 in London.

A big fall in the price of oil earlier in the week helped spark a big sell off in the stock market.

The price of the commodity has fallen by more than half since June last year as traders try to price in a glut of supply due to increased production. The sharp drop in prices has also prompted concern that economies outside the U.S. remain weak.

In bond trading, prices fell. The yield on the benchmark 10-year Treasury note rose to 2.01 percent from 1.97 percent on Wednesday.

The dollar rose against most major currencies. Against the Japanese yen, the dollar rose to 119.63 from 119.65. It rose to its highest in nine years against the euro, trading at $1.1790.

In metals trading, gold edged down $2.20 to $1,208.50 an ounce, silver fell 16 cents to $16.39 an ounce and copper rose a penny to $2.77 a pound.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 0.3 cent to close at $1.341 a gallon.

”” Heating oil rose 1.1 cents to close at $1.711 a gallon.

”” Natural gas rose 5.6 cents to close at $2.927 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-170.5	points or ▼	-0.95%	on	Friday, 9 January 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,737.37	▼	-170.50	▼	-0.95%		
	Nasdaq____	4,704.07	▼	-32.12	▼	-0.68%		
	S&P_500___	2,044.81	▼	-17.33	▼	-0.84%		
	30_Yr_Bond____	2.56	▼	-0.04	▼	-1.43%		

NYSE Volume	 3,343,366,000 	 	 	 	 	  		 
Nasdaq Volume	 1,659,418,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,501.14	▼	-68.82	▼	-1.05%		
	DAX_____	9,648.50	▼	-189.11	▼	-1.92%		
	CAC_40__	4,179.07	▼	-81.12	▼	-1.90%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,440.10	▲	80.70	▲	1.51%		
	Shanghai_Comp	3,285.41	▼	-8.04	▼	-0.24%		
	Taiwan_Weight	9,215.58	▼	-22.45	▼	-0.24%		
	Nikkei_225___	17,197.73	▲	30.63	▲	0.18%		
	Hang_Seng.__	23,919.95	▲	84.42	▲	0.35%		
	Strait_Times.__	3,338.44	▼	-6.67	▼	-0.20%		
	NZX_50_Index_	5,584.84	▲	10.79	▲	0.19%		

http://finance.yahoo.com/news/stocks-mostly-higher-ahead-us-093734142.html

*US stocks slide following weak wage growth, oil price slump*
Associated Press
By ALEX VEIGA

A turbulent week of trading ended Friday with U.S. stocks finishing lower for the third time in five days.

The decline followed two days of big gains and nudged major indexes lower for the year.

A slide in oil prices deepened, stoking concerns about global economic growth. Energy stocks tumbled, extending their losses for the year.

Investors also were discouraged by weak U.S. wage growth in December, despite another strong increase in hiring.

"We finally got the jobs growing," said Erik Davidson, deputy chief investment officer of Wells Fargo Private Bank. "Now people are looking through that at the actual wage growth numbers and they want to see improvement on wages, which obviously would spur demand and consumer confidence."

The Standard & Poor's 500 index shed 17.33 points, or 0.8 percent, to 2,044.81. The index is now down 0.7 percent for the year.

The Dow Jones industrial average slid 170.50 points, or about 1 percent, to 17,737.37. The Dow has fallen 0.5 percent this year.

The Nasdaq composite lost 32.12 points, or 0.7 percent, to 4,704.07. It's down 0.7 percent this year.

After a long period of relative calm, stock markets have become more volatile as investors grapple with slowing global growth and slumping oil prices. A gauge of investor anxiety, the Chicago Board Options Exchange's volatility index, or VIX, rose 3 percent to 17.5 on Friday, up from 12 a month ago.

"It's going to be a volatile year, but I think if you remain a long-term investor ... and you push out this volatility and you focus on the trends, I think (the stock market) is going to have a pretty good year," said Robert Pavlik, chief market strategist at Banyan Partners.

A combination of positive U.S. economic news, hopes for stimulus from Europe's central bank and renewed confidence that the Federal Reserve will keep supporting the economy helped push stocks higher in the middle of the week after a tough start to the year.

But by Friday, the jobs data and a renewed decline in oil prices put traders in a selling mood once again.

U.S. crude fell 43 cents, or 0.9 percent, to close at $48.36 a barrel in New York on further evidence that OPEC will not cut production in an effort to support prices. In London, Brent crude fell 85 cents, or 1.7 percent, to $50.11 a barrel, setting a new five and a half-year low.

The price of oil has fallen by more than half since June as traders anticipate a glut of supply caused by increased production. The slide also has stoked concern about the already troubled state of economies overseas.

"Is it a canary in the coal mine for bigger global economic concerns?" Davidson said. "Is oil telling us something about the future of the global economy?"

The latest U.S. jobs data also gave some investors reason for concern.

The government reported that employers added 252,000 jobs in December, slightly more than economists expected. The government also noted that more jobs were added in October and November than it had previously estimated.

Still, wage growth remained weak, as average hourly pay slipped 5 cents in December. And the unemployment rate fell to 5.6 percent from 5.8 percent in part because many of the jobless gave up looking for work and were no longer counted as unemployed.

Among individual stocks, Avon Products declined the most among companies in the S&P 500. The stock shed 66 cents, or 7.5 percent, to $8.17. It's down 13 percent this year.

All 10 sectors in the S&P 500 fell. Financial stocks were the biggest losers on the day. The sector is down 2.4 percent this year.

In government bond trading, prices rose. The yield on the benchmark 10-year Treasury fell to 1.95 percent from 2.02 percent on Thursday.

The euro edged up to $1.1841 from $1.1792 the previous day. The dollar fell to 118.51 yen from 119.80 yen.

In metals trading, gold edged up $7.60 to $1,216.10 an ounce, silver rose three cents to $16.42 an ounce and copper fell two cents to $2.75 an ounce.

In other futures trading on the NYMEX:

— Wholesale gasoline fell 1.8 cents to close at $1.323 a gallon.

— Heating oil fell 0.8 cent to close at $1.703 a gallon.

— Natural gas rose 1.9 cents to close at $2.946 per 1,000 cubic feet.

Among other stocks making big moves Friday:

— Star Bulk Carriers sank 23.1 percent after the global shipping company priced a public offering of stock below the previous day's closing price. The stock slid $1.51 to $5.02.

— Ruby Tuesday's latest quarterly revenue fell short of expectations as sales at restaurants open at least a year declined. Shares in the chain-restaurant operator shed 83 cents, or 11.7 percent, to $6.27.

— Agenus jumped 28.7 percent on news that the biotechnology company signed a licensing, development and commercialization deal with Incyte for immuno-therapeutics. Agenus rose $1.18 to $5.29. Incyte fell $1.18, or 1.6 percent, to $72.03.

3393


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-96.53	points or ▼	-0.54%	on	Monday, 12 January 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,640.84	▼	-96.53	▼	-0.54%		
	Nasdaq____	4,664.71	▼	-39.36	▼	-0.84%		
	S&P_500___	2,028.26	▼	-16.55	▼	-0.81%		
	30_Yr_Bond____	2.49	▼	-0.06	▼	-2.50%		

NYSE Volume	 3,454,067,000 	 	 	 	 	  		 
Nasdaq Volume	 1,791,369,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,501.42	▲	0.28	▲	0.00%		
	DAX_____	9,781.90	▲	133.40	▲	1.38%		
	CAC_40__	4,228.24	▲	49.17	▲	1.18%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,399.50	▼	-40.60	▼	-0.75%		
	Shanghai_Comp	3,229.32	▼	-56.10	▼	-1.71%		
	Taiwan_Weight	9,178.30	▼	-37.28	▼	-0.40%		
	Nikkei_225___	17,197.73	▲	30.63	▲	0.18%		
	Hang_Seng.__	24,026.46	▲	106.51	▲	0.45%		
	Strait_Times.__	3,344.89	▲	6.45	▲	0.19%		
	NZX_50_Index_	5,609.80	▲	24.96	▲	0.45%		

http://finance.yahoo.com/news/europe-stocks-gain-asia-falls-oil-slide-us-091750215.html

*US stocks head lower; crude oil price falls again*
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) ”” Falling oil prices dragged the stock market lower on Monday as Exxon Mobil, Chevron and other big energy companies sank along with crude.

The steep drop in oil prices over recent months has investors second-guessing expectations for the quarterly earnings season that starts this week.

Sam Stovall, the U.S. equity strategist at S&P Capital IQ, said that it seems that every day brings another drop in Wall Street's earnings forecasts.

"What's happening is that we're seeing the very low bar for fourth-quarter earnings raising anxiety," Stovall said. "It's the continued decline in oil, but it's also that nearly half of the S&P 500's revenues come from overseas. Japan is in recession, and Europe is teetering on the edge of it."

The Standard & Poor's 500 index lost 16.55 points, or 0.8 percent, to close at 2,028.26.

The Dow Jones industrial average slid 96.53 points, or 0.5 percent, to 17,640.84, and the Nasdaq composite lost 39.36 points, or 0.8 percent, to 4,664.71.

In a wide-ranging note to clients, Goldman Sachs slashed its forecast for oil prices. It now estimates that that crude will average $50.40 a barrel this year, far below its previous forecast of $83.75. It also trimmed its forecast for Brent crude, a type used in international markets, to $70 a barrel from $90.

Oil prices extended their slide, with U.S. crude losing $2.29 to settle at $46.07 a barrel. Brent lost $2.68 to $47.43. Both trade at their lowest levels since March of 2009.

"I think we're going to see plenty more volatility in the coming days as pressure mounts on oil producers to scale back production before prices get dangerously low," said Craig Erlam, market analyst at Alpari.

Monday also marked the unofficial start to the fourth-quarter earnings season as Alcoa turned in its latest quarterly results after the closing bell. The aluminum producer reported stronger earnings and revenue than Wall Street expected, pushing the stock up 20 cents, or 1 percent, to $16.38 in extended trading.

Analysts expect big corporations to turn in modest results for the fourth-quarter, forecasting earnings growth of 4.6 percent, according to S&P Capital IQ. Overall sales are expected to be meager, rising 2.3 percent, largely the result of sliding revenue for oil companies.

Traders are also looking ahead to Greece's general election on Jan. 25. Opinion polls show the Syriza party on track to win the election. Syriza wants to change the terms of the country's bailout agreement with lenders, but few think it will be able to govern without the support of other parties. Diminishing fears that Greece will drop the euro currency have helped take some pressure off the country's bond market.

Major markets in Europe climbed. Germany's DAX gained 1.4 percent, while France's CAC-40 added 1.2 percent. Britain's FTSE 100 closed flat.

Back in the U.S., Tiffany & Co. cut its outlook for annual profits and posted weaker sales in the holiday season, partially the result of a stronger U.S. dollar pinching results. The jewelry retailer's stock fell $14.44, or 14 percent, to $89.01, the biggest drop in the S&P 500.

AmerisourceBergen announced plans to buy MWI Veterinary Supply for roughly $2.5 billion, or $190 a share. The deal would give the prescription-drug distributer a foothold in the growing business of veterinary medicine. MWI's stock jumped $14.35, or 8 percent, to $190, while AmerisourceBergen sank $2.07, or 2 percent, to $90.93.

In the bond market, prices for Treasurys rose, pushing the yield on the 10-year Treasury note down to 1.91 percent from 1.95 percent late Friday.

In commodity trading, the price of gold gained $16.70 to settle at $1,232.80 an ounce, and silver rose 15 cents to $16.56 an ounce. Copper fell three cents to $2.73 an ounce.

In other futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline fell 4.8 cents to close at $1.275 a gallon.

”” Heating oil fell 4.9 cents to close at $1.654 a gallon.

”” Natural gas fell 15.1 cents to close at $2.795 per 1,000 cubic feet.

___


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-27.16	points or ▼	-0.15%	on	Tuesday, 13 January 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,613.68	▼	-27.16	▼	-0.15%		
	Nasdaq____	4,661.50	▼	-3.21	▼	-0.07%		
	S&P_500___	2,023.03	▼	-5.23	▼	-0.26%		
	30_Yr_Bond____	2.48	▼	-0.01	▼	-0.40%		

NYSE Volume	 4,107,443,250 	 	 	 	 	  		 
Nasdaq Volume	 2,074,339,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,542.20	▲	40.78	▲	0.63%		
	DAX_____	9,941.00	▲	159.10	▲	1.63%		
	CAC_40__	4,290.28	▲	62.04	▲	1.47%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,382.10	▼	-17.40	▼	-0.32%		
	Shanghai_Comp	3,235.30	▲	5.98	▲	0.19%		
	Taiwan_Weight	9,231.80	▲	53.50	▲	0.58%		
	Nikkei_225___	17,087.71	▼	-110.02	▼	-0.64%		
	Hang_Seng.__	24,215.97	▲	189.51	▲	0.79%		
	Strait_Times.__	3,338.97	▼	-5.92	▼	-0.18%		
	NZX_50_Index_	5,636.61	▲	26.80	▲	0.48%		

http://finance.yahoo.com/news/us-stocks-end-see-saw-215817498.html

*US stocks end see-saw day lower

US stocks drop, losing early gains, as energy stocks fall; Homebuilders dip on demand outlook*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- Stocks swung from gains to losses and almost back again on Tuesday.

The U.S. market opened the day higher, getting a boost from encouraging news on hiring and small business confidence. The market then swooned in the afternoon as oil closed lower. The pendulum then swung back late in the day as oil gained in after-hours trading and stocks ended with small losses.

From peak to trough, the Dow Jones industrial average swung 425 points.

Stocks are having a jumpy start to the year as investors grapple with the potential impact of oil's plunge. The outlook for global growth also remains fuzzy as the U.S. recovery continues, but economies in Europe and Asia struggle.

Even though stock market volatility has picked up at the start of the year, investors should remain calm, said Janet Dougherty, a global investment specialist in Chicago at JPMorgan private bank.

"You have to remember that we've been through an extended period where there wasn't a lot of volatility in the equity markets, and now we're just getting back to normalized levels," Dougherty said.

The Standard & Poor's 500 index eased 5.23 points, or 0.3 percent, to 2,023.03. The Dow fell 27.16 points, or 0.15 percent, to 17,613.68. The Nasdaq composite slipped 3.21 points, or less than 0.1 percent, to 4,661.50.

Oil fell Tuesday after the energy minister for the United Arab Emirates said Tuesday there are no plans for OPEC to curb production to shore up falling crude prices. The price of oil has slumped almost 60 percent since last June as traders bet that the supply glut will persist.

"At a certain point oil has got to find a bottom," said Jeffrey Carbone, a partner at Cornerstone, a wealth manager. "But for that to happen, somebody is going to have to flinch and cut production."

The market also took a knock after the CEO of KB Homes said that his company was experiencing soft demand in some markets. The comments caused the stock to plunge, dragging other home builders lower.

KB Home ended the day down $2.70, or 16.3 percent, at $13.87. The Standard & Poor's home building index dropped 3 percent.

The market's initial rise came after a survey suggested that the rapid pace of hiring in 2014 would continue this year. A separate survey showed that small businesses remain confident for the outlook on growth.

U.S. employers advertised the most job openings in nearly 14 years in November, the Labor Department said. That suggests businesses are determined to keep adding staff because they are confident that strong economic growth will create more demand for goods and services.

Job openings rose 2.9 percent to 4.97 million in November, the most since January 2001. More job vacancies generally lead to more hiring.

A survey on small business showed confidence rising to an 8-year high in December. The survey also showed that more small business owners plan to raise wages.

Among individual stocks, McGraw Hill Financial, the owner of the Standard & Poor's bond rating company, was the biggest gainer, rising $5.13, or 6 percent, to $90.89. The gains followed reports that the company was close to reaching a $1 billion settlement with the U.S. government for allegedly misleading investors about its ratings of bonds backed by subprime mortgages.

In government bond trading, the yield on the 10-year Treasury note fell to 1.90 percent from 1.91 percent on Monday.

The dollar gained against the euro but dropped against the yen. The euro fell 0.5 percent to $1.1775 and the dollar slipped 0.2 percent to 117.89 Japanese yen.

In metals trading, prices were mixed. Gold rose $1.60, or 0.1 percent, to $1,234.40 an ounce. Silver gained 59 cents, or 3.6 percent, to $17.15 an ounce. Copper fell 8 cents, or 3 percent, to $2.64 a pounds.

In other energy trading:

”” Wholesale gasoline fell 0.6 cent to close at $1.269 a gallon.

”” Heating oil fell 2.1 cents to close at $1.633 a gallon.

”” Natural gas rose 14.8 cents to close at $2.943 per 1,000 cubic feet.


----------



## explod

From high to low I actually think the DOW swung about 800.

Certainly some tom toms beating.   Many oil fields across the globe producing at a loss,  go figure?


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-186.59	points or ▼	-1.06%	on	Wednesday, 14 January 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,427.09	▼	-186.59	▼	-1.06%		
	Nasdaq____	4,639.32	▼	-22.18	▼	-0.48%		
	S&P_500___	2,011.27	▼	-11.76	▼	-0.58%		
	30_Yr_Bond____	2.45	▼	-0.03	▼	-1.25%		

NYSE Volume	 4,349,671,000 	 	 	 	 	  		 
Nasdaq Volume	 1,982,755,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,388.46	▼	-153.74	▼	-2.35%		
	DAX_____	9,817.08	▼	-123.92	▼	-1.25%		
	CAC_40__	4,223.24	▼	-67.04	▼	-1.56%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,332.20	▼	-49.90	▼	-0.93%		
	Shanghai_Comp	3,222.44	▼	-12.86	▼	-0.40%		
	Taiwan_Weight	9,180.23	▼	-51.57	▼	-0.56%		
	Nikkei_225___	16,795.96	▼	-291.75	▼	-1.71%		
	Hang_Seng.__	24,112.60	▼	-103.37	▼	-0.43%		
	Strait_Times.__	3,326.16	▼	-14.91	▼	-0.45%		
	NZX_50_Index_	5,648.62	▲	12.02	▲	0.21%		

http://finance.yahoo.com/news/dismal-report-us-retail-spending-191103888.html

*Dismal report on US retail spending hits the stock market

US stocks fall on dismal retail report and a slow growth outlook; Investors flee to bonds*
Associated Press
By Bernard Condon, AP Business Writer

NEW YORK (AP) -- A dismal report on retail spending in the U.S. and signs of slowing global growth drove stocks lower and sent yields on government bonds plunging as investors sought safety.

U.S. stocks fell from the start of trading on a report that consumers pulled back on spending last month and on a slump in European markets. At one point, the Dow Jones industrial average shed nearly 350 points.

Investors dumped some key commodities on fears global growth is stalling, pushing the price of copper to a five-year low, and they piled into German, British and U.S. government bonds. The yield on the 30-year U.S. Treasury fell to its lowest on record.

"We haven't seen volatility like this for years," said John Canally, investment strategist for LPL Financial. "People are more worried."

The Commerce Department reported that retail sales fell 0.9 percent in December, the biggest decline since January last year. The drop was a surprise to many investors because it showed consumers are still reluctant to spend despite lower gas prices and a pickup in hiring.

"There was a perception that the economy was improving, but that has gotten called into question," said Peter Tuz, a portfolio manager at Chase Investment Counsel, which manages $400 million in assets. "The savings from lower gas prices hasn't translated into higher consumer spending yet."

A report from the World Bank late Tuesday also weighed on markets. The bank lowered its forecast for global growth this year to 3 percent from 3.4 percent. It blamed sluggish economies in Europe and Japan and a slowdown in China.

The price of copper, a metal used in construction and manufacturing, fell 14 cents, or 5.2 percent, to close at $2.51 a pound following the World Bank's downgrade.

Investors buying up 10-year Treasury notes sent its yield, a benchmark for home loans and corporate borrowing, to 1.85 percent, its lowest since May 2013. The yield on the 30-year bond dropped below 2.4 percent for the first time.

The Standard & Poor's 500 index fell 11.76 points, 0.6 percent, to 2,011.27 The S&P 500 is heading for its third straight week of losses.

The Nasdaq composite fell 22.18 points, or 0.5 percent, to 4,639.32 And the Dow Jones industrial average dropped 186.59 points, or 1.1 percent, to 17,427.09.

Stocks are swinging more this year as investors become anxious. The Dow index was down as much as 348.78 points in the early afternoon, before gaining back much of its losses. On Tuesday, the difference between the Dow's high and low was more than 400 points.

Investors will turn their attention next to more corporate earnings reports. A handful of big companies are expected to report Thursday, including giant money manager BlackRock, energy company Schlumberger and Intel Corp., the world's largest chip maker.

Overall, companies in the S&P 500 are expected to report a modest 4.5 percent increase in fourth-quarter earnings per share compared with a year ago, according to S&P Capital IQ.

Among stocks making big moves:

”” The drop in commodities pushed mining giant Freeport-McMoRan down $2.30, or 11 percent, to $18.74.

”” JPMorgan Chase fell $2.03, or 3.5 percent, to $56.81 after reporting a 7 percent drop in fourth-quarter earnings. The bank was hit by more legal costs and a decline in trading revenue.

”” GameStop jumped nearly 11 percent, the biggest gain in the S&P 500, after its CEO reported strong sales in gaming software sales during the holiday shopping season. The stock rose $3.44 to $36.21.

The price of oil surged, despite a large increase in U.S. oil stockpiles, on a weaker dollar and traders' expectations that oil had fallen too far recently. Benchmark U.S. crude rose $2.59 to close at $48.48 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $2.10 to close at $48.69 in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 8.2 cents to close at $1.351 a gallon.

”” Heating oil rose 2.2 cents to close at $1.655 a gallon.

”” Natural gas rose 29 cents to close at $3.233 per 1,000 cubic feet.

Gold edged up 10 cents to $1,234.50 an ounce and silver fell 17 cents to $16.99 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-106.38	points or ▼	-0.61%	on	Thursday, 15 January 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,320.71	▼	-106.38	▼	-0.61%		
	Nasdaq____	4,570.82	▼	-68.50	▼	-1.48%		
	S&P_500___	1,992.67	▼	-18.60	▼	-0.92%		
	30_Yr_Bond____	2.41	▼	-0.04	▼	-1.63%		

NYSE Volume	 4,231,356,500 	 	 	 	 	  		 
Nasdaq Volume	 1,889,252,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,498.78	▲	110.32	▲	1.73%		
	DAX_____	10,032.61	▲	215.53	▲	2.20%		
	CAC_40__	4,323.20	▲	99.96	▲	2.37%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,310.60	▼	-21.60	▼	-0.41%		
	Shanghai_Comp	3,336.45	▲	114.02	▲	3.54%		
	Taiwan_Weight	9,165.09	▼	-15.14	▼	-0.16%		
	Nikkei_225___	17,108.70	▲	312.74	▲	1.86%		
	Hang_Seng.__	24,350.91	▲	238.31	▲	0.99%		
	Strait_Times.__	3,338.84	▲	12.68	▲	0.38%		
	NZX_50_Index_	5,642.05	▼	-6.57	▼	-0.12%		

http://finance.yahoo.com/news/volat...wing-higher-led-china-091304458--finance.html

*Weak bank results weigh on stock market*
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) ”” Disappointing results from Bank of America and Citigroup tugged the stock market to its fifth straight loss Thursday.

Oil prices continued their slide, and U.S. government bonds jumped.

Weak revenue from trading pulled down Bank of America's profit 11 percent in the fourth quarter. The bank's earnings and revenue fell short of Wall Street's estimates. BofA's stock sank 84 cents, or 5 percent, to $15.20.

Discouraging news on the global economy and falling oil prices have rattled investors recently, even as the bull market for stocks closes in on its sixth anniversary.

The stock market's fall is likely to prove temporary, another pause in a long climb higher, said Henry Smith, chief investment officer at Haverford Trust.

"Bull markets don't die because of age," he said. "They die almost always in anticipation of the next recession. But where are the indications of that?"

Despite slowing growth overseas, the U.S. economy continues to improve. Last week, the government said that the unemployment rate declined to 5.6 percent in December, a six-year low. On Thursday, the New York branch of the Federal Reserve reported manufacturing expanded in the region.

"Lately, it has ... been the economy versus the markets," said Jack Ablin, the chief investment officer at BMO Private Bank. "There's a divergence. The financial markets are worried about the impact of plunging oil prices, at the same time the economic backdrop in the U.S. is improving."

On Thursday, the Standard & Poor's 500 index fell 18.60, or 0.9 percent, to close at 1,992.67. The Dow Jones industrial average dropped 106.38 points, or 0.6 percent, to 17,320.71, while the Nasdaq composite fell 68.50, or 1.5 percent, to 4,570.82.

A volatile day of oil trading ended with crude falling $2.23 to end at $46.25 a barrel. Earlier in the day it jumped over $51. Brent crude, a benchmark for international oils, fell $1.02 to close at $47.67 in London.

Smith said he isn't troubled by the drop in oil. "Lower oil prices are good for the vast majority of the economy," he said. "It can't be bad because consumers in the U.S. and globally benefit from lower energy costs."

With JPMorgan Chase posting a drop in profits on Wednesday, the fourth-quarter earnings season has had a rough start. But that shouldn't come as a surprise. Analysts have spent the past few weeks trimming their forecasts. They now predict big corporations will report earnings growth of 4 percent, according to S&P Capital IQ, down from forecasts of 6.6 percent on December 1. Overall sales are expected to rise just 2.1 percent, largely the result of sliding revenue for oil companies.

Citigroup sank $1.82, or 4 percent, to $47.23 following news that the bank's quarterly profit fell 86 percent. The bank booked legal and restructuring charges at the end of last year to cover costs tied to a number of investigations. Analysts had expected stronger results.

In Europe, France's CAC 40 climbed 2.4 percent, while Germany's DAX gained 2.2 percent. Britain's FTSE 100 rose 1.7 percent.

Switzerland's central bank rocked currency markets on Thursday when it abandoned efforts to keep the Swiss franc artificially low against the euro. The Swiss currency soared in response. But Swiss stocks took a pounding on the prospect of the country's exports becoming more expensive to overseas buyers.

In Asia, Japan's Nikkei 225 jumped 1.9 percent. China's Shanghai Composite surged 3.5 percent, and Hong Kong's Hang Seng rose 1 percent.

Back in the U.S., Radio Shack's stock plummeted 36 percent following a report in The Wall Street Journal that the struggling electronics retailer could file for bankruptcy protection as early as February. The company's shares fell 15 cents to 26 cents

Target announced that it was closing all of its stores in Canada, saying it couldn't find a realistic way for the division to turn a profit before 2021. Target's stock rose $1.34, or 2 percent, to $75.67.

Precious and industrial metals traded higher. Gold gained $30.30 to $1,264.80 an ounce, while silver rose 11 cents to $17.10 an ounce. Copper inched up 5 cents to $2.56 a pound.

In other futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline fell 5.2 cents to close at $1.299 a gallon.

”” Heating oil fell 3.2 cents to close at $1.623 a gallon.

”” Natural gas fell 7.5 cents to close at $3.158 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	190.86	points or ▲	1.10%	on	Friday, 16 January 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,511.57	▲	190.86	▲	1.10%		
	Nasdaq____	4,634.38	▲	63.56	▲	1.39%		
	S&P_500___	2,019.42	▲	26.75	▲	1.34%		
	30_Yr_Bond____	2.43	▲	0.02	▲	1.00%		

NYSE Volume	 4,021,722,250 	 	 	 	 	  		 
Nasdaq Volume	 1,890,162,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,550.27	▲	51.49	▲	0.79%		
	DAX_____	10,167.77	▲	135.16	▲	1.35%		
	CAC_40__	4,379.62	▲	56.42	▲	1.31%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,278.80	▼	-31.80	▼	-0.60%		
	Shanghai_Comp	3,376.50	▲	40.04	▲	1.20%		
	Taiwan_Weight	9,138.29	▼	-26.80	▼	-0.29%		
	Nikkei_225___	16,864.16	▼	-244.54	▼	-1.43%		
	Hang_Seng.__	24,103.52	▼	-247.39	▼	-1.02%		
	Strait_Times.__	3,300.68	▼	-38.16	▼	-1.14%		
	NZX_50_Index_	5,616.73	▼	-25.33	▼	-0.45%		

http://finance.yahoo.com/news/oil-company-rally-snaps-5-221650998.html

*Oil-company rally snaps 5-day losing streak

Oil swings higher, lifting energy companies and stock market at end of turbulent week*
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- A surge in oil and gas companies pulled the stock market out of a five-day slump on Friday, as the price of crude swung higher.

Oil prices jumped after the International Energy Agency predicted drillers would cut production this year. Exxon Mobil, Chevron and other energy companies led all 10 sectors of the Standard & Poor's 500 index to gains, climbing 3 percent. Oil's seven-month slide had cut its price by more than half.

"Lower oil prices on the whole are supportive of economic growth worldwide," said Jason Pride, director of investment strategy at Glenmede Trust. "They're very helpful for Japan, Europe, China and India. It's clearly a good thing."

The S&P 500 index gained 26.75 points, or 1.3 percent, to finish at 2,019.42.

The Dow Jones industrial average climbed 190.86 points, or 1.1 percent, to close at 17,511.57, and the Nasdaq rose 63.56 points, or 1.4 percent, to 4,634.38.

The rally came at the end of another rough week for the market. Since the start of the year, worries about the strength of the global economy and falling oil prices have weighed major indexes down. Even with its strong performance on Friday, the S&P 500 still lost 1 percent for the week, its third straight weekly drop.

"There has been a lot of conflicting information to digest, recently," said Anastasia Amoroso, a global market strategist at J.P. Morgan Asset Management.

Amoroso said the big question has been whether the recent slump in oil prices will lead to other problems, such as deflation, a downward spiral in prices that could put companies out of business. "Are low oil prices a good or a bad thing?" she asked, rhetorically. "For stocks, deflation is not so great."

Benchmark U.S. crude jumped $2.44 on Friday to settle at $48.69 a barrel in New York trading. Brent crude, a benchmark for international oils used by many U.S. refineries, added 31 cents to $50.17 in London.

The economic reports out Friday offered investors some encouragement. U.S. manufacturers churned out more furniture, computers and clothing in December, according to the Federal Reserve, as factory production increased for a fourth straight month in a row. In a separate report, a gauge of consumer sentiment from the University of Michigan jumped to its highest level in 11 years.

A fall in trading revenue pulled down Goldman Sachs's quarterly earnings 10 percent. The investment bank's fixed income, currency and commodities division slumped 29 percent. Goldman's stock dipped $1.26, or 0.7 percent, to $177.23.

It was a recurring theme for a week in which JPMorgan Chase, Bank of America and other big banks turned in results that missed analysts' forecasts. Overall, analysts predict that big corporations will post earnings growth of 4 percent, according to S&P Capital IQ. Sales are expected to rise just 2.1 percent, largely the result of falling revenue for oil companies.

Most major markets in Europe closed with solid gains. Germany's DAX and France's CAC 40 climbed 1.3 percent. Britain's FTSE 100 rose 0.8 percent.

A move by the Swiss National Bank on Thursday rippled through currency markets, after the central bank ditched its policy to cap the rise of the Swiss franc. Following the news, the Swiss franc spiked against both the euro and the dollar. Switzerland's stock market sank again on Friday, losing 6 percent.

The move in the Swiss franc rocked brokerages that deal in foreign currencies. FXCM, a New York-based brokerage, said late Thursday that its big losses may have put the company in breach of regulatory requirements. FXCM's stock plunged ahead of the opening bell before trading in its shares was suspended.

In the bond market, U.S. Treasury prices fell, driving the yield on the 10-year Treasury note to 1.83 percent.

Precious and industrial metals extended their recent run. Gold gained $12.10 to settle at $1,276.90 an ounce, while silver rose 65 cents to $17.75 an ounce. Copper inched up 6 cents to $2.62 a pound.

In other trading on the New York Mercantile exchange:

— Wholesale gasoline rose 6 cents to close at $1.359 a gallon.

— Heating oil rose 4.3 cents to close at $1.666 a gallon.

— Natural gas fell 3.1 cents to close at $3.127 per 1,000 cubic feet.

3768


----------



## bigdog

*Martin Luther King, Jr. Day Monday January 19 2014 holiday and NYSE closed*

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	190.86	points or ▲	1.10%	on	Monday, 19 January 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,511.57	▲	190.86	▲	1.10%	HOLIDAY	 	 			
	Nasdaq____	4,634.38	▲	63.56	▲	1.39%	HOLIDAY	 	 			
	S&P_500___	2,019.42	▲	26.75	▲	1.34%	HOLIDAY	 	 			
	30_Yr_Bond____	2.43	▲	0.02	▲	1.00%	HOLIDAY	 	 			

NYSE Volume	 4,021,722,250 	 	 	 	 	  		 
Nasdaq Volume	 1,890,162,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,585.53	▲	35.26	▲	0.54%		
	DAX_____	10,242.35	▲	74.58	▲	0.73%		
	CAC_40__	4,394.93	▲	15.31	▲	0.35%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,289.00	▲	10.20	▲	0.19%		
	Shanghai_Comp	3,116.35	▼	-260.14	▼	-7.70%		
	Taiwan_Weight	9,174.06	▲	35.77	▲	0.39%		
	Nikkei_225___	17,014.29	▲	150.13	▲	0.89%		
	Hang_Seng.__	23,738.49	▼	-365.03	▼	-1.51%		
	Strait_Times.__	3,307.70	▲	7.02	▲	0.21%		
	NZX_50_Index_	5,638.14	▲	21.41	▲	0.38%		

https://uk.finance.yahoo.com/news/european-stocks-rise-expected-ecb-184703209.html

*European stocks rise on expected ECB stimulus move*

Europe's main stock markets closed higher Monday, the start of a pivotal week for the region with the ECB forecast to announce fresh stimulus measures and Greece holding a snap election.

In London the benchmark FTSE 100 index climbed 0.54 percent to end the day at 6,585.53 points compared with Friday's close.

Frankfurt's DAX 30 grew 0.73 percent to a record high close of 10.242,35 points, while the CAC 40 in Paris gained 0.35 percent to 4,394.93 points.

"European stock markets are starting the new trading week on a positive note seeing some early follow-through buying after last Friday?s steep gains," said Markus Huber, senior analyst at broker Peregrine & Black.

"Increasing optimism that the ECB will finally announce QE (stimulus) during their monthly meeting later this week is continuing to drive investors into stocks. In addition a weak euro combined with low oil prices is stirring hopes that a sustained recovery for the eurozone isn't far off."

Stock indices had rallied Friday on fresh signals that the European Central Bank will launch a bond-buying stimulus programme this week, news that has weighed heavily on the euro.

The chronically low level of inflation across the single currency bloc has fuelled concern the region could slip into deflation -- a sustained and widespread drop in prices. Britain, which is not part of the eurozone, also risks falling into deflation later this year.

While falling prices may sound good for consumers, deflation can trigger a vicious spiral in which businesses and households delay purchases, throttling demand and causing companies to lay off workers.

Such concerns have fuelled speculation that the ECB could launch a programme of sovereign bond purchases known as quantitative easing or QE when it holds its first policy meeting of the year on Thursday.

The expectation weighed on borrowing costs, with 10-year Spanish and Italian bond rates striking record low levels on Monday. The Spanish note dropped to 1.470 percent before rebounding to close at 1.513 percent, and Italy closed at 1.664 percent after hitting a low of 1.619 percent.

The euro recovered following its 11-year low against the dollar on Friday. At 1700 GMT Monday, the European single currency bought $1.1630 compared with $1.1566 late in New York on Friday.

At one point ahead of the weekend, the single currency tumbled to $1.1460 -- the first time it had traded under $1.15 since November 2003.

- Eyes on ECB -

"The main event this week is the ECB?s policy meeting and press conference on Thursday," noted Neil MacKinnon, economist at financial group VTB Capital.

"The markets expect the ECB to announce a QE programme of anything up to 600 billion euros ($696 billion) consisting of purchases of eurozone government bonds."

Stocks rallied on a weaker euro, which boosted shares in companies reliant on exports. The single currency is feeling the force of expected ECB stimulus as it reduces the prospect of higher eurozone interest rates any time soon.

Also on the radar this week is a snap general election in Greece on Sunday.

The looming election has raised concerns that a victory by the leftist Syriza party will force eurozone member Greece to renegotiate its bailout with international lenders.

The euro meanwhile has been hit also by a soaring Swiss franc. The franc has jumped by about 20 percent against the euro since the Swiss central bank stunned markets Thursday with its bombshell decision to abandon the minimum rate of 1.20 francs against the European common currency.

The Swiss National Bank had since September 2011 been defending the exchange rate in a bid to protect the country's vital export industry, including by buying massive quantities of foreign currencies.

Switzerland's main stocks index closed up 3.21 percent Monday after plunging 14 percent last week following the central bank's shock decision to scrap its three-year bid to hold down the value of the franc.

Wall Street was closed on Monday due to a US national holiday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	3.66	points or ▲	0.02%	on	Tuesday, 20 January 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,515.23	▲	3.66	▲	0.02%		
	Nasdaq____	4,654.85	▲	20.46	▲	0.44%		
	S&P_500___	2,022.55	▲	3.13	▲	0.15%		
	30_Yr_Bond____	2.40	▼	-0.04	▼	-1.52%		

NYSE Volume	 3,917,296,750 	 	 	 	 	  		 
Nasdaq Volume	 1,769,166,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,620.10	▲	34.57	▲	0.52%		
	DAX_____	10,257.13	▲	14.78	▲	0.14%		
	CAC_40__	4,446.02	▲	51.09	▲	1.16%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,286.80	▼	-2.20	▼	-0.04%		
	Shanghai_Comp	3,173.05	▲	56.70	▲	1.82%		
	Taiwan_Weight	9,251.69	▲	77.63	▲	0.85%		
	Nikkei_225___	17,366.30	▲	352.01	▲	2.07%		
	Hang_Seng.__	23,951.16	▲	212.67	▲	0.90%		
	Strait_Times.__	3,334.02	▲	26.32	▲	0.80%		
	NZX_50_Index_	5,633.22	▼	-4.92	▼	-0.09%		

http://finance.yahoo.com/news/us-stocks-turn-higher-afternoon-205141227.html

*US stocks turn higher in afternoon trading

US stock market ekes out gain as tech companies surge in late afternoon trading*
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- A late rise in technology stocks helped the U.S. stock market stagger to a tiny gain following a choppy day of trading Tuesday.

A combination of tepid earnings results, falling oil prices and downbeat news kept the market lower for most of the day. Major indexes started higher in the first few minutes of trading but quickly faded, as slipping confidence among homebuilders and another drop in crude pulled housing and energy stocks down. The S&P 500 spent the afternoon slowly recovering, until a late surge in Apple, Netflix and other technology titans helped nudge the index up.

"There's just a lot driving trading today," Randy Frederick, managing director of trading and derivatives with the Schwab Center for Financial Research. "I think we're going to see more volatility for a while, not just down but up, too."

The S&P 500 index inched up 3.13 points, or 0.2 percent, to finish at 2,022.55.

The Dow Jones industrial average gained 3.66 points, a sliver of a percent, to 17,515.23, and the Nasdaq rose 20.46 points, or 0.4 percent, to 4,654.85.

Of the 10 sectors in the S&P 500 index, technology companies had the best day, with Apple and Netflix climbing 3 percent.

Frederick said that uncertainty is behind the recent turbulence.

At the moment, there are just too many open questions about oil prices and the global economy. He pointed to two upcoming events that could swing markets: a meeting of the European Central Bank on Thursday and elections in Greece on Sunday. Many in the markets are betting that the ECB will unveil a new effort to revive that region's flagging economy.

U.S. economic news Tuesday offered little encouragement. A weak signal from the housing market sent builders' stocks down. The National Association of Home Builders/Wells Fargo's builder sentiment index slipped a point from the prior month, an indication that they feel slightly less confident in their sales prospects heading into the spring. D.R. Horton dropped 81 cents, or 3 percent, to $22.95, while PulteGroup lost 77 cents, or 4 percent, to $20.80.

The International Monetary Fund cut its forecasts for global growth over the next two years, warning that persistent weakness in most major economies will outweigh any benefit from lower oil prices. It now predicts global growth at 3.5 percent this year and 3.7 percent in 2016.

China's government said that its economy expanded 7.4 percent last year, its weakest pace in 24 years. The slower growth is partly a result of Beijing's efforts to wean the economy off its reliance on heavy industry and trade. But a range of problems, including a slumping property market and uneven exports, have hampered the shift.

Europe's stock markets ended mixed. France's CAC 40 gained 1.2 percent, while Germany's DAX closed with a gain of 0.1 percent.

Johnson & Johnson, the maker of Tylenol, Band-Aids and baby shampoo, turned in earnings early Tuesday that beat analysts' forecasts, yet it came up short for revenue, largely a result of a stronger dollar. Sales of medical devices and other products sank as transactions in foreign currencies translated into fewer dollars. The company's stock fell $2.75, or 3 percent, to $101.29.

Delta Air Lines surged $3.33, or 7 percent, to $49.17, thanks to its stronger results. The recent slump in oil prices helped, as the airline spent much less on fuel at the end of last year compared with the same period of 2013.

In other trading, prices climbed in the U.S. government bond market, tamping Treasury yields down. The yield on the 10-year Treasury dipped to 1.79 percent, a sharp drop from 1.84 percent late Friday.

Most precious and industrial metals made gains. Gold continued its recent rally, climbing $17.30 to settle at $1,294.20 an ounce. Silver rose two cents to $17.96 an ounce. Copper was the exception, slipping 2 cents to $2.59 a pound.

Reports of China's slower economic growth helped push the price of oil lower Tuesday. Benchmark U.S. crude for February delivery fell $2.30 to close at $46.39 a barrel in New York on the last day of trading for the contract. Brent crude for March delivery, the international benchmark, fell 85 cents to close at $47.99 in London.

In other trading on the NYMEX:

”” Wholesale gasoline slipped 4.6 cents to close at $1.313 a gallon.

”” Heating oil fell 7.5 cents to close at $1.591 a gallon.

”” Natural gas lost 29.6 cents to close at $2.831 per 1,000 cubic feet


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	39.05	points or ▲	0.22%	on	Wednesday, 21 January 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,554.28	▲	39.05	▲	0.22%		
	Nasdaq____	4,667.42	▲	12.58	▲	0.27%		
	S&P_500___	2,032.12	▲	9.57	▲	0.47%		
	30_Yr_Bond____	2.44	▲	0.04	▲	1.75%		

NYSE Volume	 3,689,332,000 	 	 	 	 	  		 
Nasdaq Volume	 1,779,574,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,728.04	▲	107.94	▲	1.63%		
	DAX_____	10,299.23	▲	42.10	▲	0.41%		
	CAC_40__	4,484.82	▲	38.80	▲	0.87%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,367.40	▲	80.60	▲	1.52%		
	Shanghai_Comp	3,323.61	▲	150.56	▲	4.74%		
	Taiwan_Weight	9,319.71	▲	68.02	▲	0.74%		
	Nikkei_225___	17,280.48	▼	-85.82	▼	-0.49%		
	Hang_Seng.__	24,352.58	▲	401.42	▲	1.68%		
	Strait_Times.__	3,354.46	▲	20.44	▲	0.61%		
	NZX_50_Index_	5,672.85	▲	39.64	▲	0.70%		

http://finance.yahoo.com/news/most-...rs-await-ecb-decision-063829796--finance.html

*US stocks rise on expected European stimulus, higher oil

US stocks rise broadly on hopes of Europe stimulus, higher oil; Netflix, energy stocks up most*
Associated Press
By Bernard Condon, Associated Press 

NEW YORK (AP) -- Another choppy day on Wall Street ended with stocks broadly higher on hopes of new stimulus measures for Europe's weak economy and a sharp rise in oil prices.

Stocks flitted between gains and losses at the open of trading Wednesday, then rose on media reports that new stimulus measures by the European Central Bank will be as large as investors anticipated. The bank is expected on Thursday to unveil a massive round of government bond buying, a program known as quantitative easing.

All 10 sectors of the Standard and Poor's 500 stock index rose. A gain in oil prices helped push the energy sector up 1.8 percent, the biggest gainer.

The bumpy market is not surprising after big stock gains last year and the year before, said Phil Orlando, chief equity strategist at Federated Investments.

"Investors are worried the gains can't possibly last another year," he said. "Investors are really nervous. "

Investors also weighed a batch of corporate earnings reports. Netflix surged 17 percent on a jump in fourth-quarter profits. But IBM's results disappointed and its stock dropped 3 percent.

Europe is facing anemic growth, high unemployment and falling prices. To combat this, many investors had been expecting the European Central Bank to buy 500 billion euros ($580 billion) of various government bonds.

"All eyes are on the Mario Draghi," said Anastasia Amoroso, global market strategist at J.P. Morgan Asset Management, referring to the ECB president. "This is the most anticipated event of the week."

The S&P 500 rose 9.57 points, or 0.5 percent, to close at 2,032.12. It was third straight day of gains for the index, a first in the new year.

The Dow Jones industrial average climbed 39.05 points, or 0.2 percent, to 17,554.28. The Nasdaq gained 12.58 points, or 0.3 percent, to 4,667.42.

Reporting of fourth-quarter corporate earnings is in full swing. When all S&P 500 companies have reported, earnings per share are expected to edge up 0.5 percent, the smallest quarterly gain in two years, according to FactSet. A slump in oil, down more than 50 percent over the last seven months, is largely to blame. EPS at energy companies are expected to fall 22 percent from a year earlier.

"This earnings season is not as much of a slam dunk as in the past," said JP Morgan's Amoroso. "In prior seasons we had all sectors contributing (to gains), but energy and some industrial companies aren't now. There's a lot of uncertainty."

In economic news, construction of new homes rebounded in December, helping to push activity for the entire year to the highest level since the peak of the housing boom nine years ago. Homebuilders D.R. Horton rose 2 percent.

The Commerce Department report showed that builders started construction at a seasonally adjusted annual rate of 1.09 million in December, an increase of 4.4 percent from November.

Among stocks making big moves:

”” Netflix jumped $60.48 to $409.28. In a report late Tuesday, the company said it added 4.3 million subscribers in the final three months of 2014 and that per-share earnings rose 72 percent from a year earlier, a record gain.

”” UnitedHealth rose $3.70, or 3.5 percent, to $109.32 following quarterly earnings that topped expectations. The nation's largest health insurer said last month that it expected double-digit earnings growth in 2015.

”” IBM dropped $4.86, or 3 percent, to $152.09 after reporting an 11 percent drop in fourth-quarter profit. Its outlook for the coming year also disappointed investors as business customers continued to move away from buying big mainframe computers and traditional software installed on their own systems.

In oil markets, prices rose on signs that drillers are cutting back and on the expected European stimulus. Benchmark U.S. crude rose $1.31 to close at $47.78 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $1.04 to close at $49.03 in London.

The dollar weakened to 117.85 yen from 118.64 yen the previous day. The euro edged up to $1.1607 from $1.1548.

Gold fell 50 cents to $1,293.70 an ounce. Silver rose 23 cents to $18.19 an ounce. Copper edged up nearly 2 cents to $2.61 a pound.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 1.3 cents to close at $1.326 a gallon.

”” Heating oil rose 1.9 cents to close at $1.646 a gallon.

”” Natural gas rose 14.3 cents to close at $2.974 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	259.7	points or ▲	1.48%	on	Thursday, 22 January 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,813.98	▲	259.70	▲	1.48%		
	Nasdaq____	4,750.40	▲	82.98	▲	1.78%		
	S&P_500___	2,063.15	▲	31.03	▲	1.53%		
	30_Yr_Bond____	2.47	▲	0.03	▲	1.19%		

NYSE Volume	 4,121,934,000 	 	 	 	 	  		 
Nasdaq Volume	 1,926,213,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,796.63	▲	68.59	▲	1.02%		
	DAX_____	10,435.62	▲	136.39	▲	1.32%		
	CAC_40__	4,552.80	▲	67.98	▲	1.52%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,390.50	▲	23.10	▲	0.43%		
	Shanghai_Comp	3,343.34	▲	19.73	▲	0.59%		
	Taiwan_Weight	9,369.51	▲	49.80	▲	0.53%		
	Nikkei_225___	17,329.02	▲	48.54	▲	0.28%		
	Hang_Seng.__	24,522.63	▲	170.05	▲	0.70%		
	Strait_Times.__	3,371.24	▲	16.78	▲	0.50%		
	NZX_50_Index_	5,647.15	▼	-25.71	▼	-0.45%		

http://finance.yahoo.com/news/stocks-rally-euro-falls-europe-215331559.html

*Stocks rally, euro falls after Europe unveils stimulus plan

US stocks erase losses for year after Europe's central bank unveils economic plan*
Associated Press
By Matthew Craft, AP Business Writer 

 NEW YORK (AP) -- A plan to revive Europe's sagging economy rippled through the financial world on Thursday, setting off a rally in the stock market that wiped out its losses for the year.

The pledge by the European Central Bank to spend 1.1 trillion euros on bonds knocked down government borrowing rates across Europe and drove the euro to its lowest level against the dollar in 11 years. For investors, the long wait for action in Europe was over.

"It's all about the ECB today," said Jeff Kravetz, regional investment strategist at U.S. Bank Wealth Management. "This is a very positive development. They have a reputation of overpromising and under-delivering, and today they delivered."

The Standard & Poor's 500 index jumped 31.03 points, or 1.5 percent, to close at 2,063.15. That nudged it into positive territory for the year, up 0.2 percent.

The Dow Jones industrial average climbed 259.70 points, or 1.5 percent, to 17,813.98 while the Nasdaq climbed 82.98 points, or 1.8 percent, to 4,750.40.

The ECB announced Thursday that it would start buying 60 billion euros worth of government and private bonds every month, slightly more than what many in the markets anticipated. The central bank said the program will run 18 months, from this March until September of next year, but left open the option of extending the program if necessary.

That wiggle room is crucial, said Joseph Quinlan, chief market strategist at U.S. Trust. Turning around an economy often takes longer than people think. The Federal Reserve launched its first bond-buying effort at the end of 2008 and kept expanding it over the following years.

"The biggest positive is that it appears to be open-ended," Quinlan said. "As we learned in the U.S., it takes time for this to work."

Major markets in Europe ended the day with solid gains. Germany's DAX rose 1.3 percent and France's CAC-40 gained 1.5 percent. Britain's FTSE 100 picked up 1 percent.

Prices for government bonds across Europe jumped, pushing yields to record lows. The yield on the 10-year German bond hit 0.39 percent. Borrowing costs for governments in France, Italy and other countries also reached new lows.

"It's hard not to see this as a positive, but there will be lingering doubts," said Chris Rupkey, chief financial economist at the Bank of Tokyo, in a note to clients. "Is there even enough debt for them to buy?"

The euro fell further against the U.S. dollar on Thursday, reaching $1.13. The euro hasn't been that cheap since September 2003, according to FactSet data. A weakened euro makes European goods cheaper, which could help boost exports from the region and lift inflation from dangerously low levels.

The dollar index, which measures the greenback against a basket of major currencies, climbed 1.6 percent, putting it up 4.6 percent for the month.

A strong dollar has its drawbacks, especially for big U.S. corporations that depend on overseas sales. It raises prices for U.S. products in foreign countries, and means the revenue that U.S. companies collect in other currencies translates into fewer dollars when they bring the money home. A strong dollar, in other words, can pinch profits. For companies in the S&P 500 index, roughly half of total revenue comes from outside the United States.

The strong dollar, for example, hurt Johnson & Johnson in the fourth quarter, and triggered a sell-off in its shares on Tuesday.

Big-name companies turning in results on Thursday were spared damage from currency fluctuations, however. Southwest Airlines reported higher quarterly profit and revenue than Wall Street expected. The carrier said lower prices for jet fuel helped reduce costs, and estimated that it should save around half a billion dollars on fuel during the first three months of 2015. Southwest jumped $3.52, or 8 percent, to $45.35, making it the biggest gainer in the S&P 500.

Union Pacific's stock chugged ahead, rising $5.43, or 5 percent, to $119.83. Its fourth-quarter profit surged 22 percent as the railroad operator hauled more freight.

In the commodity markets, most precious and industrial metals settled higher. Gold rose an even $7 to $1,300.70 an ounce, while silver picked up 17 cents to $18.36 an ounce. Copper slipped 3 cents to $2.58 a pound.

U.S. government bond prices dipped, shoving the yield on the 10-year Treasury to 1.88 percent from 1.87 percent late Wednesday.

The price of oil fell following news of a large increase in U.S. crude stocks. The Energy Department said oil and petroleum fuel supplies have reached their highest level since 1990. Benchmark U.S. crude fell $1.47 to close at $46.31 a barrel in New York. Brent crude, the international benchmark, fell 51 cents to $48.52 in London.

In other futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline rose 0.5 cents to close at $1.331 a gallon.

”” Heating oil rose 0.8 cents to close at $1.638 a gallon.

”” Natural gas fell 13.9 cents to close at $2.835 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-141.38	points or ▼	-0.79%	on	Friday, 23 January 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,672.60	▼	-141.38	▼	-0.79%		
	Nasdaq____	4,757.88	▲	7.48	▲	0.16%		
	S&P_500___	2,051.82	▼	-11.33	▼	-0.55%		
	30_Yr_Bond____	2.39	▼	-0.08	▼	-3.04%		

NYSE Volume	 3,623,753,750 	 	 	 	 	  		 
Nasdaq Volume	 1,610,030,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,832.83	▲	36.20	▲	0.53%		
	DAX_____	10,649.58	▲	213.96	▲	2.05%		
	CAC_40__	4,640.69	▲	87.89	▲	1.93%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,468.20	▲	77.70	▲	1.44%		
	Shanghai_Comp	3,351.76	▲	8.42	▲	0.25%		
	Taiwan_Weight	9,470.94	▲	101.43	▲	1.08%		
	Nikkei_225___	17,511.75	▲	182.73	▲	1.05%		
	Hang_Seng.__	24,850.45	▲	327.82	▲	1.34%		
	Strait_Times.__	3,411.50	▲	41.21	▲	1.22%		
	NZX_50_Index_	5,675.24	▲	28.09	▲	0.50%		

http://finance.yahoo.com/news/asian-stock-markets-boosted-ecb-stimulus-plan-074702069--finance.html

*Stocks fall, snapping 4-day winning streak; UPS slumps*
Associated Press
By STEVE ROTHWELL 

NEW YORK (AP) — A batch of mixed earnings reports Friday helped push the stock market to its first day of losses this week.

Shares of tissue and diaper maker Kimberly-Clark dropped after the company's earnings fell short of expectations and it gave a disappointing outlook. Package-delivery service UPS plunged after it cut its earnings forecast.

Strong growth in company earnings have underpinned a bull run in stocks that has stretched for nearly six years. Earnings are still expected to keep rising, but the pace of growth is slowing, and investors are looking for signs that sales are up.

"Our view is that the market is poised to have a reset to reflect what we think is a lower growth environment," said James Abate, chief investment officer of Centre Funds, an asset management company.

The Standard & Poor's 500 index fell 11.33 points, or 0.6 percent, to 2,051.82. The Dow Jones industrial average slipped 141.38 points, or 0.8 percent, to 17,672.60. The Nasdaq composite bucked the trend, gaining 7.48 points, or 0.2 percent, to 4,757.88.

Despite the fall, stocks ended with their first weekly gain of the year.

Global stocks rose sharply on Thursday after the European Central Bank announced that it would buy 60 billion euros ($67 billion) of government and corporate bonds each month at least through September 2016. The 1.1 trillion euro program signals the willingness of the ECB to boost the economies in the 19-nation euro currency alliance.

The ECB's stimulus "was a big positive not just for Europe, but also the U.S.," said Jerry Braakman, chief investment officer of First American Trust, in Santa Ana, California.

Stocks have wavered since the start of the year on signs that growth outside of the U.S. was slowing. Many investors worried that a pronounced slowdown would eventually curb the U.S. economic recovery.

"Anything that can stem the contagion and stop the malaise from spilling over ... that allows our bull market to continue," Braakman said.

For the week, the S&P 500 edged up 1.6 percent while he Dow rose 0.9 percent.

But on Friday, earnings from some big-name companies weighed down the market.

Kimberly-Clark reported a fourth-quarter loss of $83 million. The company also forecast weaker sales in 2015. The stock dropped $7.33, or 6.2 percent, to $111.65.

UPS said it was hurt by the huge cost of guaranteeing punctual deliveries over the holidays. That forced the shipping company to cut its outlook for the year. UPS hired more workers and boosted capacity at its facilities during the busy holiday season to avoid a repeat of 2013, when shippers struggled with a deluge of orders. Its stock slumped $11.32, or 10 percent, to $102.93.

Oil has resumed its slump after stabilizing last week. Benchmark crude finished down 72 cents to $45.59 a barrel on Friday. For the week, oil is also down, extending a slump that has cut the price by more than half since June.

As a result of oil's fall, weaker results from energy companies are expected to hurt profits for S&P 500 companies in the fourth quarter. Still, overall earnings are expected to grow by 4.1 percent in that period, according to data from S&P Capital IQ. That's slower than the 4.9 percent increase a year earlier. Revenue is expected to rise 2 percent.

Still, not all earnings reports on Friday disappointed.

Starbucks quarterly earnings soared 82 percent as the coffee chain attracted more customers over the holidays, thanks to its expanded food and drink menu. The company's stock jumped $5.48, or 6.6 percent, to $88.22.

In government bond trading, prices rose. The yield on the 10-year government bond fell to 1.79 percent from 1.87 on Thursday.

The dollar continued to strengthen against most major currencies. Against the euro, the dollar traded at $1.1212 from $1.356. The euro is at its lowest against the dollar in more than a decade.

The U.S. currency slipped slightly against the Japanese yen, dropping to 117.83 yen from 118.56 yen the previous day.

In metals trading, prices fell.

Silver dropped 6 cents, or 0.3 percent, to $18.30 an ounce. Gold fell $8.10, or 0.6 percent, to $1,292.60 an ounce. Copper declined 7.7 cents, or 3 percent, to $2.50 a pound.

In other futures trading on the NYMEX:

— Brent crude rose 27 cents to $48.79 a barrel.

— Wholesale gasoline rose 2 cents to $1.347 a gallon.

— Heating oil was essentially flat at $1.646 a gallon.

— Natural gas gained 15 cents to $2.986 per 1,000 cubic feet.

4245


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	6.1	points or ▲	0.03%	on	Monday, 26 January 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,678.70	▲	6.10	▲	0.03%		
	Nasdaq____	4,771.76	▲	13.88	▲	0.29%		
	S&P_500___	2,057.09	▲	5.27	▲	0.26%		
	30_Yr_Bond____	2.40	▲	0.00	▲	0.17%		

NYSE Volume	 3,434,999,250 	 	 	 	 	  		 
Nasdaq Volume	 1,667,137,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,852.40	▲	19.57	▲	0.29%		
	DAX_____	10,798.33	▲	148.75	▲	1.40%		
	CAC_40__	4,675.13	▲	34.44	▲	0.74%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,468.20	▲	77.70	▲	1.44%	*AUSTRALIA DAY HOLIDAY* 
	Shanghai_Comp	3,383.18	▲	31.42	▲	0.94%		
	Taiwan_Weight	9,477.67	▲	6.73	▲	0.07%		
	Nikkei_225___	17,468.52	▼	-43.23	▼	-0.25%		
	Hang_Seng.__	24,909.90	▲	59.45	▲	0.24%		
	Strait_Times.__	3,397.30	▼	-14.20	▼	-0.42%		
	NZX_50_Index_	5,698.66	▲	23.42	▲	0.41%		

http://finance.yahoo.com/news/asia-stocks-down-anti-austerity-024727734.html

*Stocks eke out small gains after drifting most of the day*
Associated Press
By ALEX VEIGA

U.S. stocks eked out tiny gains on Monday after spending much of the day drifting sideways.

Major stock indexes barely budged early as investors took in stride the election of a Greek political party that has called for the elimination of some that nation's rescue loans. Market players also weighed the latest batch of corporate earnings

Traders welcomed news of several corporate mergers, including an $11 billion deal between reinsurers Axis Capital Holdings and PartnerRe.

"Greece was the big driver," said Chris Gaffney, a senior market strategist at EverBank Wealth Management. "The EU leaders have already come out and are willing to talk about extending the debt, so that calmed the markets a bit."

The market also brushed off concerns of a major blizzard set to descend over the Northeast U.S. The stock exchanges were expected to open for business as usual on Tuesday.

The Dow Jones industrial added 6.10 points, or 0.03 percent, to 17,678.70. The Standard & Poor's 500 gained 5.27 points, or 0.3 percent, to 2,057.09. The Nasdaq composite rose 13.88 points, or 0.3 percent, to 4,771.76.

Monday's market action got off to a listless start, as the major market indexes held mostly unchanged from Friday's close.

Investors were still digesting Sunday's election victory by Greece's Syriza party, which has vowed to end painful austerity policies. That's raised concerns about whether Greece will break free from the Eurozone. The country's current bailout plan concludes at the end of February.

European markets' initial reaction to the election was positive, sending Germany's DAX up 1.4 percent, while the CAC-40 in France rose 0.7 percent. The main stock market in Greece recouped some of its early losses to end 3.2 percent lower.

"European markets reflected worse expectations for the outcome of this election and, as a result, they're seeing this as better-than-expected news," said Kate Warne, an investment strategist at Edward Jones.

Six of the 10 sectors in the S&P 500 ended higher, and energy companies rose the most. The price of oil fell on continuing expectations of high supplies, but comments from an OPEC official suggested that the recent price plunge might be near an end.

Corporate deals also helped push some stocks sharply higher Monday.

Packaging company MeadWestvaco agreed to combine with Rock-Tenn Co. to create a $16 billion company, which will be named before the deal closes. MeadWestvaco jumped 14 percent, to lead all stocks in the S&P 500. The stock gained $6.31 to $51.35. Rock-Tenn vaulted $3.86, or 6.1 percent, to $66.85.

Post Holdings jumped 18 percent on news that the company has agreed to acquire privately held MOM Brands in a deal that involves $1.05 billion in cash and nearly 2.5 million shares of stock. MOM's products include cereals, hot wheat and oatmeal products. Post shares gained $7.39 to $48.83.

Investors also cheered the combination of Axis Capital and ParnterRe, lifting Axis shares $2.81, or 5.7 percent, to $52.14. PartnerRe gained $1.36, or 1.2 percent, to $115.50.

Developments in Russia also rippled through parts of the market.

Standard & Poor's rating agency downgraded Russia's credit grade to junk status on Monday. The agency sees the country's financial buffers at risk amid a slide in the country's currency and weakening revenue from oil exports. The downgrade contributed to a slide in the ruble, which weakened about 6 percent against the dollar.

Beyond geopolitical news, traders remain focused on corporate earnings, which are a key driver of stocks. They're also looking ahead to Wednesday, when the Federal Reserve is scheduled to deliver an update that could provide new insight into when the central bank plans to begin raising interest rates.

Players in the market appear to be looking past the major snowstorm sweeping into the Northeast.

"It could be disruptive, potentially, for a few people, maybe a few traders," said Doug Cote, chief market strategist at Voya Investment Management. "But as far as the market impact goes, it's minimal, unless there are severe power outages."

The NYSE Group said it plans normal trading hours for its exchanges through Tuesday.

Last week, the S&P 500 ended higher three days in a row before pulling back Friday. The Dow and S&P 500 are down slightly for the year, but remain near all-time highs set last month. The Nasdaq is up 0.8 percent this year.

In commodities trading, benchmark U.S. crude fell 44 cents to close at $45.15 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 63 cents to close at $48.16 in London. Oil has plunged since June, when it traded above $100.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 3.1 cents to close at $1.317 a gallon.

”” Heating oil fell 0.7 cents to close at $1.640 a gallon.

”” Natural gas fell 10.5 cents to close at $2.881 per 1,000 cubic feet.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 1.82 percent from 1.80 percent late Friday.

In metals trading, gold fell $13.20 to $1,279.40 an ounce. Silver slipped 31 cents to $17.98 an ounce. Copper rose four cents to $2.54 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-291.49	points or ▼	-1.65%	on	Tuesday, 27 January 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,387.21	▼	-291.49	▼	-1.65%		
	Nasdaq____	4,681.50	▼	-90.27	▼	-1.89%		
	S&P_500___	2,029.55	▼	-27.54	▼	-1.34%		
	30_Yr_Bond____	2.40	▲	0.00	▲	0.17%		

NYSE Volume	 3,301,402,000 	 	 	 	 	  		 
Nasdaq Volume	 1,859,652,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,811.61	▼	-40.79	▼	-0.60%		
	DAX_____	10,628.58	▼	-169.75	▼	-1.57%		
	CAC_40__	4,624.21	▼	-50.92	▼	-1.09%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,511.50	▲	43.30	▲	0.79%		
	Shanghai_Comp	3,352.96	▼	-30.22	▼	-0.89%		
	Taiwan_Weight	9,521.59	▲	43.92	▲	0.46%		
	Nikkei_225___	17,768.30	▲	299.78	▲	1.72%		
	Hang_Seng.__	24,807.28	▼	-102.62	▼	-0.41%		
	Strait_Times.__	3,412.20	▲	13.68	▲	0.40%		
	NZX_50_Index_	5,737.74	▲	39.08	▲	0.69%		

http://finance.yahoo.com/news/us-company-outlooks-worry-investors-211226348.html

*US company outlooks worry investors, sending stocks lower

Disappointing outlooks for companies like Caterpillar, Microsoft, drive stocks lower*
Associated Press
By Alex Veiga, AP Business Writer

U.S. stocks slumped Tuesday after some of the market's largest companies reported disappointing earnings, taking investors on a turbulent ride that deepened the losses for the year.

The companies that rattled the market included Microsoft, Caterpillar and Procter & Gamble. Some also forecast weaker results in months ahead.

An unexpected drop in U.S. orders of long-lasting goods also weighed on the market, briefly dragging the Dow Jones industrial average down 390 points early in the day before it pared back some of the losses. It was the biggest one-day decline for the blue-chip index since Jan. 5.

The downbeat company report cards raise concerns about Corporate America's ability to grow profits at a time when many investors are expecting the resurgent U.S. economy to drive earnings should economic growth weaken overseas.

"That theme, 'Boy, this is the year earnings are going to come back,' suffered a little bit of a setback," said Sean Lynch, co-head of global equity strategy at Wells Fargo Investment Institute. "Investors are starting to worry that the stronger dollar and some the impacts of energy aren't always positive."

The Dow dropped 291.49 points, or 1.7 percent, to close at 17,387.21. It is now 3.7 percent below its record high of 18,053.71 on Dec. 26.

The Standard & Poor's 500 index lost 27.53 points, or 1.3 percent, to 2,029.56. It's down 2.9 percent from its high of 2,090.57 on Dec. 29.

The Nasdaq composite dropped 90.27 points, or 1.9 percent, to 4,681.50.

The major stock indexes got off to a rough start early on, each opening sharply lower as investors digested the company earnings news.

A report showing that sales of new U.S. homes accelerated 11.6 percent last month failed to veer the market from its slide.

By midmorning, the Dow had flirted with a drop of nearly 400 points. The market began to pare its losses around midday.

Nine of the 10 sectors in the S&P 500 fell, with technology stocks dropping the most. Utility stocks, where investors go when they're looking for safety, were the only industry group to rise.

Stocks have wavered since the start of the year on signs that growth outside of the U.S. is slowing.

December's decline in durable goods orders suggests that U.S. companies may be growing wary of economic weakness in Europe and Asia, as well as the strengthening dollar, which can hurt American exports.

Traders remain focused on corporate earnings, which are a key driver of stocks. But there were few bright spots among several of the companies delivering their latest financial results Tuesday.

Caterpillar, Packaging Corp. of America, J&J Snack Foods and mining company Freeport-McMoRan each reported earnings that fell short of Wall Street forecasts.

Even companies that boasted strong quarterly results, such as American Airlines Group, which recorded record quarterly profit, also delivered cautionary notes. The airline said a key revenue figure would decline in the next quarter.

Weakening currencies versus the dollar was a recurrent theme, with Procter & Gamble and Microsoft each citing the stronger dollar as reason for weaker results in months ahead. Caterpillar, Packaging Corp. and Pfizer also issued weak earnings or revenue outlooks.

A stronger dollar can hurt companies that do a large share of their business overseas because sales in other countries translate back into fewer dollars.

"If you look at multi-nationals, they are encountering these problems, but on the whole, I think earnings season will be OK, nothing exceptional or earth-shattering, but they will prove to be satisfactory," said Peter Cardillo, chief market economist at Rockwell Global Capital.

Tuesday's big price swoon may have been exaggerated by lower trading volumes than normal.

While the New York Stock Exchange opened at its regular time, many workers in the financial industry probably struggled to get to their offices because the city's transport links had been shut down in anticipation of a harsh winter storm.

"Volume is not all that heavy," Cardillo said. "These gyrations might be somewhat extended. The low volume is exaggerating these declines."

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 1.82 percent from 1.83 late Monday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-195.84	points or ▼	-1.13%	on	Wednesday, 28 January 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,191.37	▼	-195.84	▼	-1.13%		
	Nasdaq____	4,637.99	▼	-43.50	▼	-0.93%		
	S&P_500___	2,002.16	▼	-27.39	▼	-1.35%		
	30_Yr_Bond____	2.29	▼	-0.11	▼	-4.50%		

NYSE Volume	 4,035,667,250 	 	 	 	 	  		 
Nasdaq Volume	 2,027,030,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,825.94	▲	14.33	▲	0.21%		
	DAX_____	10,710.97	▲	82.39	▲	0.78%		
	CAC_40__	4,610.94	▼	-13.27	▼	-0.29%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,516.60	▲	5.10	▲	0.09%		
	Shanghai_Comp	3,305.74	▼	-47.22	▼	-1.41%		
	Taiwan_Weight	9,510.92	▼	-10.67	▼	-0.11%		
	Nikkei_225___	17,795.73	▲	27.43	▲	0.15%		
	Hang_Seng.__	24,861.81	▲	54.53	▲	0.22%		
	Strait_Times.__	3,419.15	▲	6.95	▲	0.20%		
	NZX_50_Index_	5,794.82	▲	57.09	▲	0.99%		

http://finance.yahoo.com/news/stock...s-add-growth-concerns-092948435--finance.html

*Stocks fade late as oil dips, Fed gives investors pause*
Associated Press
By ALEX VEIGA

The Federal Reserve's latest take on the U.S. economy got investors in a selling mood Wednesday, as stocks fell sharply for the second straight day.

The stock market also took a hit when benchmark U.S. oil sank to its lowest level in nearly six years, hurting prospects for energy companies.

The central bank issued a statement Wednesday making clear that it would remain "patient" in raising interest rates from near zero, which was expected. But the Fed also strengthened its assessment of the U.S. economy, noting it is expanding at a solid pace and generating strong job growth.

That's good news for Main Street and Corporate America, but signals that the Fed is moving closer to raising rates, even if it's not contemplating an imminent hike. When interest rates remain low they tend to make stocks more attractive by comparison to bonds.

"The market is, on one hand, happy the Fed is saying things look solid, but it means at some point we will get that first rate hike," said Quincy Krosby, market strategist for Prudential Financial.

The Energy Department reported that U.S. oil inventories rose to their highest levels ever recorded. Those high supplies drove crude prices to the lowest level since March 2009. Benchmark U.S. crude fell $1.78 to close at $44.45 a barrel in New York. As recently as June, it traded above $100.

Inflation has stayed ultra-low partly because of the plunge in energy prices and a steadily rising dollar. The Fed noted it anticipates inflation will decline further before starting to rise gradually.

Prices for the benchmark 10-year Treasury jumped after the Fed statement came out, knocking the yield to 1.70 percent, the lowest level this year. It edged back up to 1.72 percent late in day, compared with 1.82 percent late Tuesday. The yield on the 30-year bond, meanwhile, touched a record low of 2.27 percent.

"The Fed has a much more beneficial view on drop in oil than the stock market does," said John Canally, chief economic strategist at LPL Financial.

All told, the Dow Jones industrial average dropped 195.84 points, or 1.1 percent, to close at 17,191.37.The Standard & Poor's 500 index lost 27.39 points, or 1.4 percent, to 2,002.16.

The Nasdaq composite dropped 43.50 points, or 0.9 percent, to 4,637.99.

The market had been in a wait-and-see mode in advance of the Fed statement, drifting between small gains and losses for much of the day. Falling oil prices dragged the energy sector lower, while strong earnings from Apple helped lift tech stocks.

The market initially perked up after the Fed issued its statement at 2 p.m. Eastern Time. But the gains were short-lived, and by late afternoon three major indexes slumped, extending their losses for the year. The Dow in now 4.8 percent below its all-time high of 18,053.71 on Dec. 26. The S&P 500 index is down 4.2 percent from its high of 2,090.57 on Dec. 29.

The 10 sectors in the index fell Wednesday, with energy stocks falling the most.

Among the biggest decliners were several oil and gas exploration companies, as well as drilling services and equipment providers.

Nabors Industries lead declines. It slid $1.39, or 11.7 percent, to $10.49. Denbury Resources lost 67 cents, or 9.4 percent, to $6.47. Hess Corp. tumbled $5.59, or 7.8 percent, to $66.02.

Apart from the Fed, investors have been closely monitoring company earnings this week. They're trying to assess whether Corporate America can continue to grow profits amid concerns that economic growth could weaken overseas.

"This is a market that has to get used to focusing on what companies tell us in terms of their bottom line and their top line," Krosby said. "And you're already seeing it in the market during this earnings season."

Investors cheered strong financial results from Apple, which reported record-smashing quarterly earnings late Tuesday. The stock added $6.17, or 5.7 percent, to $115.31.

Boeing also got a lift after it reported that its profit vaulted 19 percent in the fourth-quarter on strong demand for commercial jets airliners. The stock rose $7.16, or 5.4 percent, to $139.64.

Along with Boeing, several other companies turned in better-than-expected financial results on Wednesday, including video-game maker Electronic Arts, storage container seller Tupperware Brands, computer chip maker Freescale Semiconductor and steel company U.S. Steel.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	225.48	points or ▲	1.31%	on	Thursday, 29 January 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,416.85	▲	225.48	▲	1.31%		
	Nasdaq____	4,683.41	▲	45.41	▲	0.98%		
	S&P_500___	2,021.25	▲	19.09	▲	0.95%		
	30_Yr_Bond____	2.32	▲	0.02	▲	1.09%		

NYSE Volume	 4,097,000,250 	 	 	 	 	  		 
Nasdaq Volume	 2,013,523,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,810.60	▼	-15.34	▼	-0.22%		
	DAX_____	10,737.87	▲	26.90	▲	0.25%		
	CAC_40__	4,631.43	▲	20.49	▲	0.44%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,532.20	▲	15.60	▲	0.28%		
	Shanghai_Comp	3,262.30	▼	-43.43	▼	-1.31%		
	Taiwan_Weight	9,426.90	▼	-84.02	▼	-0.88%		
	Nikkei_225___	17,606.22	▼	-189.51	▼	-1.06%		
	Hang_Seng.__	24,595.85	▼	-265.96	▼	-1.07%		
	Strait_Times.__	3,419.05	▼	-0.10	▲	0.00%		
	NZX_50_Index_	5,759.81	▼	-35.01	▼	-0.60%		

http://finance.yahoo.com/news/asia-stocks-sunk-oil-plunge-fed-rate-hike-054549010.html

*Strong earnings and job news give stocks a lift

US stocks finish higher after stronger company earnings, labor market news*
Associated Press
By Alex Veiga, AP Business Writer 

After a shaky start, U.S. stocks rebounded Thursday, snapping a two-day losing streak.

Investors welcomed better-than-expected quarterly results from several companies, including Ford, Coach and Harley-Davidson. Homebuilder stocks surged.

Even energy stocks, which were down most of the day, recovered in concert with a slight uptick in oil prices. Benchmark U.S. crude oil rose 8 cents to close at $44.53 a barrel.

New government data showing that applications for unemployment benefits fell to the lowest level in almost 15 years added a dash of favorable economic news.

The broader market rally helped the major stock indexes regain some of the ground they lost earlier in the week, though they remain down for the year.

"We've had a bit of a turnaround since the lows we saw earlier in the day," said Anastasia Amoroso, global market strategist at J.P. Morgan Funds. "It appears earnings outside of energy (stocks) have been rather strong."

Investors have had no shortage of market-moving news to digest this week, from the outcome of a national election in Greece with potential implications for the Eurozone, to the Federal Reserve's latest take on the economy and interest rates. It's also the busiest week of the current earnings season, with 142 companies in the Standard & Poor's 500 scheduled to report.

The Dow Jones industrial average rose 225.48 points, or 1.3 percent, to close at 17,416.85. The S&P 500 index gained 19.09 points, or 1 percent, to 2,021.25. The Nasdaq composite added 45.41 points, or 1 percent, to 4,683.41.

The gains were broad. All 10 sectors in the S&P 500 rose, led by materials stocks. Even energy stocks, which are down more than any other sector this year, eked out a 0.2 percent gain.

Electronics and audio equipment maker Harman International Industries led among the gainers, rising $24, or 23.7 percent, to $125.01. The company reported better-than-expected quarterly results and raised its profit forecast for the year.

Chipmaker Qualcomm notched the biggest drop among stocks in the S&P 500, shedding $7.30, or 10.3 percent, to $63.69.

The major market indexes drifted along through much of Thursday before turning higher in the afternoon. For much of the day, investors looked mainly on the latest batch of corporate earnings.

Homebuilders surged after PulteGroup reported that completed home sales increased 7 percent in the October-December quarter. PulteGroup climbed $1.24, or 6 percent, to $21.82. Rival Ryland Group led the sector, climbing $2.95, or 8 percent, to $39.62.

Traders also digested the implications of the steep drop in weekly unemployment benefit claims last week.

The big drop is a sign that hiring will likely remain healthy, which could bolster the case for the Federal Reserve to raise interest rates from near zero sooner, rather than later, said Doug Cote, chief market strategist for Voya Investment Management.

"The market is reacting to the Fed being intent on normalizing interest rate policy, and today's numbers added to that pressure," Cote said.

Higher interest rates tend to make stocks less attractive in comparison to bonds.

The S&P 500 hit a record in late December, and it's remained relatively close to that since. Expectations for earnings, meanwhile, have been sinking with the price of crude oil.

Some companies have given weaker outlooks for growth, citing the impact of falling oil or a strengthening dollar.

That's contributed to heightened volatility in the market this month.

The average day-to-day swing for the S&P 500 index in either direction last year was about 10 points, but so far this year it's been about 20 points, said Randy Frederick, managing director of trading and derivatives at Schwab Center for Financial Research.

"It's oil prices, it's the dollar, it's interest rates, it's the Fed," said Frederick. "We're still bullish about the market, but we think volatility is not going to be as low as it was last year and right now that's been the case."

Chevron, Tyson Foods and Newell Rubbermaid are among the companies due to report earnings on Friday.

Investors also will have their eye on the government's latest estimate of U.S. economic growth in the fourth quarter, consumer sentiment, and a key report on wage growth.

"If it's way off the (market) expectations either way it could be a market mover," Frederick said.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 1.75 percent from 1.72 percent late Wednesday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-251.9	points or ▼	-1.45%	on	Friday, 30 January 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,164.95	▼	-251.90	▼	-1.45%		
	Nasdaq____	4,635.24	▼	-48.17	▼	-1.03%		
	S&P_500___	1,994.99	▼	-26.26	▼	-1.30%		
	30_Yr_Bond____	2.25	▼	-0.07	▼	-2.93%		

NYSE Volume	 4,568,995,000 	 	 	 	 	  		 
Nasdaq Volume	 2,162,717,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,749.40	▼	-61.20	▼	-0.90%		
	DAX_____	10,694.32	▼	-43.55	▼	-0.41%		
	CAC_40__	4,604.25	▼	-27.18	▼	-0.59%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,551.60	▲	19.40	▲	0.35%		
	Shanghai_Comp	3,210.36	▼	-51.94	▼	-1.59%		
	Taiwan_Weight	9,361.91	▼	-64.99	▼	-0.69%		
	Nikkei_225___	17,674.39	▲	68.17	▲	0.39%		
	Hang_Seng.__	24,507.05	▼	-88.80	▼	-0.36%		
	Strait_Times.__	3,391.20	▼	-27.85	▼	-0.81%		
	NZX_50_Index_	5,744.00	▼	-15.82	▼	-0.27%		

http://finance.yahoo.com/news/world-stocks-uneven-ahead-us-growth-report-095755785--finance.html

*Stocks sag at the close; January finishes on weak note*
Associated Press
By ALEX VEIGA 

The U.S. stock market capped a rough month Friday, delivering its third loss in five days and extending its declines for the year.

All told, the Standard & Poor's 500 index fell 3 percent in January, its worse monthly performance in a year. While the U.S. economy continued to show signs of strength, energy companies suffered from a sharp drop in oil prices and some big multinational companies saw their earnings dinged by a stronger dollar.

On Friday, investors also weighed the consequences of a slowdown in U.S. economic growth and how further strength in the dollar could dent corporate profits.

"The real issue still is the confusion, the uncertainty around the speed of decline in oil prices and what that means, and the rise in the dollar and what that means for earnings," said Bob Doll, chief equity strategist at Nuveen Asset Management.

The concerns about a surging dollar intensified after Russia's central bank unexpectedly cut interest rates to 15 percent from 17 percent to help the weakening economy. That sent the ruble down against the dollar.

Before the U.S. market opened, the government said that the economy grew 2.6 percent in the last quarter of 2014, as weaker government and business spending held growth back. The decline was unexpected and down from a gain of 4.6 percent in the second quarter and 5 percent in the third quarter.

But others news signaled the steady health of the U.S. economy. Consumer spending surged in the final three months of 2014. The Labor Department reported that wages and benefits rose last year by 2.2 percent, the biggest calendar-year increase since 2008

Investors also sifted through the latest batch of corporate earnings news, and the results were mixed.

Amazon.com and Visa reported strong results late Thursday. Amazon jumped 13.7 percent, while Visa rose 2.8 percent.

Several companies didn't fare as well, including Ugg footwear maker Deckers Outdoor and the parent of Hawaiian Airlines, which offered discouraging outlooks. Deckers slumped 19.7 percent, while Hawaiian Holdings slid 27 percent.

The Dow Jones industrial average dropped 251.90 points, or 1.5 percent, to close at 17,164.95. The S&P 500 index lost 26.26 points, or 1.3 percent, to 1,994.99. The Nasdaq composite fell 48.17 points, or 1 percent, to 4,635.24.

Nine of the 10 sectors in the S&P 500 fell, with utilities declining the most.

The one sector that rose was energy. Benchmark U.S. crude rose $3.71 to close at $48.24 a barrel in New York. The price rose on expectations of lower supplies as the number of working drilling rigs continued to fall, according to a closely-watched industry count. Concerns over an attack on oil-rich Kirkuk, Iraq by Islamic insurgents also spurred oil buying and higher prices.

While oil had a strong day, it remains in a deep slump. The price of benchmark U.S. crude has fallen to $48 a barrel from over $107 last June.

Demand for ultra-safe bonds rose. The yield on the 10-year Treasury note fell to 1.66 percent Friday, the lowest since May 2013. Yields fall as bond prices rise.

"I think that the bond market is starting to scare equity investors: 'What do they know that I don't?'" said Jim Paulsen, chief investment strategist at Wells Capital Management. "The bond market is telling us that things are getting worse."

The dollar strengthened against the euro, which slipped to $1.1291 from $1.1327.

In other futures trading:

— Brent crude rose $3.86 to close at $52.99 in London.

— Wholesale gasoline rose 6.1 cents to close at $1.415 a gallon.

— Heating oil rose 6.8 cents to close at $1.686 a gallon.

— Natural gas fell 2.8 cents to close at $2.691 per 1,000 cubic feet.

4924


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	196.09	points or ▲	1.14%	on	Monday, 2 February 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,361.04	▲	196.09	▲	1.14%		
	Nasdaq____	4,676.69	▲	41.45	▲	0.89%		
	S&P_500___	2,020.85	▲	25.86	▲	1.30%		
	30_Yr_Bond____	2.25	▲	0.00	▲	0.04%		

NYSE Volume	 3,981,375,750 	 	 	 	 	  		 
Nasdaq Volume	 1,912,487,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,782.55	▲	33.15	▲	0.49%		
	DAX_____	10,828.01	▲	133.69	▲	1.25%		
	CAC_40__	4,627.67	▲	23.42	▲	0.51%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,586.50	▲	34.90	▲	0.63%		
	Shanghai_Comp	3,128.30	▼	-82.06	▼	-2.56%		
	Taiwan_Weight	9,386.99	▲	25.08	▲	0.27%		
	Nikkei_225___	17,558.04	▼	-116.35	▼	-0.66%		
	Hang_Seng.__	24,484.74	▼	-22.31	▼	-0.09%		
	Strait_Times.__	3,423.35	▲	32.15	▲	0.95%		
	NZX_50_Index_	5,756.69	▲	12.69	▲	0.22%		

http://finance.yahoo.com/news/stocks-rise-rally-higher-oil-220825022.html

*Stocks rise in late rally on higher oil; energy stocks jump

Stocks rise broadly on a third straight day of higher oil prices; All 10 S&P 500 sectors gain*
Associated Press
By Bernard Condon, AP Business Writer 

NEW YORK (AP) -- A late rally led by energy companies pushed U.S. stock indexes higher Monday after the market flitted between small gains and losses for most of the day.

Stocks opened higher, then moved down, then back up as investors seemed unable to make up their minds. A pair of weak reports on the U.S. economy fed the uncertainty. Oil prices ended up surging for a third straight day, and stocks of big producers jumped. All 10 industry sectors in the Standard and Poor's 500 index rose.

Exxon Mobil rose 2.5 percent after reporting better-than-expected earnings. Chevron jumped 3.4 percent. Both companies are members of the Dow Jones industrial average.

The market got a lift in early trading after European markets climbed following reassuring comments from France on Greece's efforts to ease the terms of its financial rescue program.

At mid-morning Eastern time, a closely watched monthly report revealed that U.S. manufacturing expanded last month at the slowest pace in a year. Also, the Commerce Department reported that consumer spending edged lower in December as vehicle sales slowed and more Americans chose to save rather than spend.

The difference between the highest and lowest levels in the S&P 500 index was 2 percent for the day, more than twice the average move over the past two years.

"The market still hasn't found a comfort zone," said Howard Silverblatt, senior index analyst at S&P Dow Jones Indices. "Volatility was so low for so long, we got used to it."

The S&P 500 rose 25.86 points, or 1.3 percent, to 2,020.85. The Dow added 196.09 points, or 1.1 percent, to 17,361.04. The Nasdaq composite rose 41.45 points, or 0.9 percent, to 4,676.69

The price of benchmark U.S. oil has fallen more than 50 percent in the past seven months, threatening the profits of energy companies and unsettling investors.

Investors are also on edge after a Greek election that put the anti-austerity Syriza party into power. Also, prices are falling in Europe and China's economy, the world's second-largest, is slowing.

Adding to the concerns: A report Friday showing the U.S. economy grew at 2.6 percent annual rate in the fourth quarter, nearly half as fast as in the previous quarter and less than economists had expected.

"The U.S. has been able to chug along despite what's going on in the rest of the world," market strategist Bill Strazzullo of Bell Curve Trading said after the factory report came out. "But now it looks like there is a bit of contagion."

U.S. crude oil rose $1.33 to close at $49.57 a barrel in New York, its highest level in nearly a month. Traders bet that oil has bottomed out despite signs of rising inventories and a refinery strike that may shrink crude consumption. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $1.76 to close at $54.75 a barrel in London.

Energy companies rose 3 percent, the biggest gain among the 10 sectors in the S&P 500. Among the big winners, Denbury Resources jumped 12 percent and Chesapeake Energy rose 7 percent.

Investors will turn their attention next to several big companies reporting this week, including United Parcel Service and Disney on Tuesday and General Motors on Wednesday.

With about half the companies in the S&P 500 index already out with their results, earnings for companies in the index are expected to have risen 2.2 percent in the fourth quarter, according to FactSet, a financial data provider. That is one of the smallest gains since the economic recovery began nearly six years ago.

The dollar rose to 117.60 yen from 117.43 yen Friday. The euro strengthened to $1.1344 from $1.1285.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 1.67 percent. Gold edged down $2.30 to $1,276.90 an ounce, silver fell four cents to $17.25 an ounce and copper was flat at $2.49 a pound.

In other trading of energy futures on the NYMEX:

”” Wholesale gasoline rose 6.6 cents to close at $1.545 a gallon.

”” Heating oil rose 5.7 cents to close at $1.758 a gallon.

”” Natural gas fell 1.1 cents to close at $2.680 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	305.36	points or ▲	1.76%	on	Tuesday, 3 February 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,666.40	▲	305.36	▲	1.76%		
	Nasdaq____	4,727.74	▲	51.05	▲	1.09%		
	S&P_500___	2,050.03	▲	29.18	▲	1.44%		
	30_Yr_Bond____	2.37	▲	0.12	▲	5.33%		

NYSE Volume	 4,596,594,500 	 	 	 	 	  		 
Nasdaq Volume	 2,076,876,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,871.80	▲	89.25	▲	1.32%		
	DAX_____	10,890.95	▲	62.94	▲	0.58%		
	CAC_40__	4,677.90	▲	50.23	▲	1.09%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,666.20	▲	79.70	▲	1.43%		
	Shanghai_Comp	3,204.91	▲	76.61	▲	2.45%		
	Taiwan_Weight	9,448.73	▲	61.74	▲	0.66%		
	Nikkei_225___	17,335.85	▼	-222.19	▼	-1.27%		
	Hang_Seng.__	24,554.78	▲	70.04	▲	0.29%		
	Strait_Times.__	3,408.02	▼	-15.33	▼	-0.45%		
	NZX_50_Index_	5,781.95	▲	25.26	▲	0.44%		

http://finance.yahoo.com/news/hopes-end-oil-price-rout-211226784.html

*Hopes for an end to oil price rout sends stocks higher

US stocks rise on higher oil prices, hopes for deal on Greek debt; energy stocks gain the most*

Associated Press 
By Bernard Condon, AP Business Writer 

NEW YORK (AP) -- A jump in oil prices helped push U.S. stocks indexes sharply higher for a second day on Tuesday, erasing much of their losses from the start of the year.

U.S. benchmark oil surged 7 percent on hopes that a seven-month collapse in prices that had rattled financial markets was ending. All 10 industry sectors of the Standard and Poor's 500 index rose, led a 2.8 percent gain in energy shares.

Stocks climbed from the start following a rally in European markets on signs that Greece's new government won't press for a write-off of the country's bailout loans. The benchmark stock index in Athens jumped 11 percent.

U.S. investors were also encouraged by a surge in auto sales last month.

The S&P 500 index climbed 29.18 points, or 1.4 percent, to 2,050.03. The Dow Jones industrial average jumped 305.36 points, or 1.8 percent, to 17,666.40. The Nasdaq rose 51.05 points, or 1.1 percent, to 4,727.74.

Investors are hoping that oil prices have found a floor after falling as much as 60 percent from their recent peak last June. Prices have risen 19 percent in four days as producers have canceled exploration projects and cut the number of rigs drilling for oil.

"Prices were due for a bounce," said Matthew Kaufler, a portfolio manager at Federated Investors. Kaufler suspects producers will have idle more rigs before prices stabilize. "There's a lot of hope that it's the bottom, but these things aren't really obvious."

The stock market got off to a bad start this year. The S&P 500 sank 3 percent in January, its worse monthly performance in a year. With Tuesday's gains, the index is now down just 0.4 percent so far in 2015.

Automakers were among the big winners as investors responded to reports of strong vehicle sales last month. Ford rose 38 cents, or 2.5 percent, to $15.65. General Motors climbed 87 cents, or 2.6 percent, to $33.98.

The main indexes in France and Britain each rose more than 1 percent after a report that Greece's finance minister had suggested in a meeting Monday in London that its debt be replaced with bonds that would be repaid only if Greece's economy grows. He also suggested using interest-only bonds.

Among other stocks making big moves:

”” Office supply chain Staples jumped $1.87, or 11 percent, to $19.01 following a report in the Wall Street Journal that the company is in advanced talks to combine with Office Depot. Office Depot leapt $1.65, or 22 percent, to $9.28.

”” AutoNation rose $3.83, or 6.5 percent, to $63.17 after the country's largest chain of car dealerships reported income that beat Wall Street's estimates.

”” The New York Times rose 7.6 percent and Gannett gained 5.7 percent after the media companies each reported quarterly earnings that exceeded analysts' expectations. The New York Times rose 97 cents to $13.73. Gannett rose $1.81 to $33.32.

The euro was little changed at $1.1505. The dollar fell 0.2 percent to 117.27 yen.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 1.79 percent from 1.67 percent. Gold fell $16.60 to $1,260.30 an ounce, silver rose seven cents to $17.32 an ounce and copper rose nine cents to $2.58 a pound.

In other oil futures trading in New York:

”” Wholesale gasoline rose 5.67 cents to $1.601 a gallon

”” Heating oil jumped 8.9 cents to $1.847 a gallon

”” Natural gas gained 7.4 cents to $2.754 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	6.62	points or ▲	0.04%	on	Wednesday, 4 February 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,673.02	▲	6.62	▲	0.04%		
	Nasdaq____	4,716.70	▼	-11.03	▼	-0.23%		
	S&P_500___	2,041.51	▼	-8.52	▼	-0.42%		
	30_Yr_Bond____	2.39	▲	0.02	▲	0.72%		

NYSE Volume	 4,111,902,500 	 	 	 	 	  		 
Nasdaq Volume	 2,137,205,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,860.02	▼	-11.78	▼	-0.17%		
	DAX_____	10,911.32	▲	20.37	▲	0.19%		
	CAC_40__	4,696.30	▲	18.40	▲	0.39%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,733.70	▲	67.50	▲	1.19%		
	Shanghai_Comp	3,174.13	▼	-30.78	▼	-0.96%		
	Taiwan_Weight	9,513.92	▲	65.19	▲	0.69%		
	Nikkei_225___	17,678.74	▲	342.89	▲	1.98%		
	Hang_Seng.__	24,679.76	▲	124.98	▲	0.51%		
	Strait_Times.__	3,416.64	▲	8.62	▲	0.25%		
	NZX_50_Index_	5,785.32	▲	3.37	▲	0.06%		

http://finance.yahoo.com/news/us-stock-indexes-mostly-fall-215025883.html

*US stock indexes mostly fall as price of oil plunges again

US stocks end mostly lower as oil prices resume slide; Disney hits all-time high on earnings*
Associated Press
By Matthew Craft, AP Business Writer

 The stock market ended an uncertain day mostly lower after the price of oil took another plunge. Stronger profits at Disney pushed its stock higher, giving the Dow Jones industrial average a small lift.

Major indexes headed lower at the opening bell, as a drop in crude oil tugged energy stocks down. The Standard & Poor's 500 index recovered its losses by midday, meandered through the afternoon, then swung from a solid gain to a slight loss in the final hour of trading.

"I think there's a sense of uneasiness and lack of conviction among investors right now," said Terry Sandven, senior equity strategist at U.S. Bank Wealth Management. "You see that in the split personality of the market."

The Standard & Poor's 500 index fell 8.52 points, or 0.4 percent, to 2,041.51.

The Dow edged up 6.62 points, less than 0.1 percent, to 17,673.02 and the Nasdaq sank 11.03 points, or 0.2 percent, to 4,716.70.

Over the previous six trading days, the market turned in three gains and three losses. Sandven said rising uncertainty over corporate earnings has helped drive the volatility. Falling oil prices and a stronger dollar have pinched companies' profits, forcing investors to second-guess their expectations.

Late Tuesday, Walt Disney reported that strong results from theme parks, television channels and selling merchandise tied to its "Frozen" movie drove quarterly earnings up 19 percent. Disney's profit and revenue trounced Wall Street's estimates for the quarter, and its stock surged $7.18, or 8 percent, to $101.28, an all-time high.

Bob Iger, Disney's CEO, said the company was not seeing a hit to attendance from the measles outbreak linked last month to Disney's Southern California parks.

Ralph Lauren's stock lost $31.12, or 18 percent, to $139.71, after the retailer reported a drop in quarterly earnings and slashed its sales forecast for the full year. The company spent more to open new stores while revenue stayed nearly flat, held back by a stronger dollar.

The fourth-quarter earnings season now looks better than it did just two weeks ago. Nearly three out of four big companies have turned in higher profits than analysts had expected, putting overall earnings on track to rise nearly 7 percent for the quarter, according to S&P Capital IQ. Two weeks ago, the expected increase was just 4 percent.

A recent rebound in oil prices fizzled out Wednesday as the benchmark contract for U.S. crude fell $4.60, or 8.7 percent, to settle at $48.45 a barrel in New York. The drop came after the U.S. government reported an increase in crude inventories last week.

Oil had rallied over the previous four days as traders speculated that low prices would force more energy companies to curtail exploration and production. Brent crude, a benchmark for international oils used by many U.S. refineries, declined $3.75, or 6.5 percent, to close at $54.16 a barrel in London.

Major markets in Europe ended mixed. France's CAC 40 rose 0.4 percent and Germany's DAX edged up 0.2 percent. Britain's FTSE 100 closed with a loss of 0.2 percent.

In the U.S., Staples announced that it's buying Office Depot for $6 billion in a widely anticipated merger of the two largest office supply retailers. The cash-and-stock deal comes a little more than a year after Office Depot merged with OfficeMax and still needs approval from regulators. Staples dropped $2.28, or 12 percent, to $16.73.

Prices wavered in the market for U.S. government bonds, leaving the yield on the 10-year Treasury note at 1.79 percent, the same as late Tuesday.

In the commodity markets, gold rose $4.20 to $1,264.50 an ounce, while silver rose seven cents to $17.40 an ounce. Copper edged up a penny to $2.59 a pound.

In other futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline fell 12 cents to $1.482 a gallon.

”” Heating oil fell 8 cents to close at $1.767 a gallon.

”” Natural gas fell 9.2 cents to close at $2.662 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	211.86	points or ▲	1.20%	on	Thursday, 5 February 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,884.88	▲	211.86	▲	1.20%		
	Nasdaq____	4,765.10	▲	48.39	▲	1.03%		
	S&P_500___	2,062.52	▲	21.01	▲	1.03%		
	30_Yr_Bond____	2.42	▲	0.03	▲	1.38%		

NYSE Volume	 3,782,941,750 	 	 	 	 	  		 
Nasdaq Volume	 1,976,066,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,865.93	▲	5.91	▲	0.09%		
	DAX_____	10,905.41	▼	-5.91	▼	-0.05%		
	CAC_40__	4,703.30	▲	7.00	▲	0.15%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,765.50	▲	31.80	▲	0.55%		
	Shanghai_Comp	3,136.53	▼	-37.59	▼	-1.18%		
	Taiwan_Weight	9,512.05	▼	-1.87	▼	-0.02%		
	Nikkei_225___	17,504.62	▼	-174.12	▼	-0.98%		
	Hang_Seng.__	24,765.49	▲	85.73	▲	0.35%		
	Strait_Times.__	3,403.83	▼	-13.74	▼	-0.40%		
	NZX_50_Index_	5,797.59	▲	12.28	▲	0.21%		

http://finance.yahoo.com/news/healt...y-advance-wall-street-150614488--finance.html

*Stocks jump as health care, energy stocks advance*
Associated Press
By KEN SWEET 

NEW YORK (AP) — The stock market surged again on Thursday, putting the Dow Jones industrial average on track for its best week since 2011.

Investors plowed money back into stocks following a slump the week before, encouraged by a 4 percent jump in the price of crude oil and Pfizer's $16 billion deal to buy the drugmaker Hospira.

The Dow Jones industrial average jumped more than 200 points, its third big gain this week. The Dow is now up about 700 points, or 4 percent, so far this week.

That's a far cry from the week before, when the blue-chip index stumbled nearly 3 percent.

"We've been returning to more normal volatility and this week is just the most recent example of that," said Gabriela Santos, a global market strategist with JPMorgan Funds.

The Dow Jones industrial average rose 211.86 points, or 1.2 percent, to 17,884.88. The Standard & Poor's 500 index added 21.01 points, or 1 percent, to 2,062.52. The Nasdaq composite rose 48.39 points, or 1 percent, to 4,765.10.

The gains put the Dow and S&P 500 back into the black for 2015.

Health care stocks and energy companies had some of the biggest gains.

Drug giant Pfizer said it would buy Hospira, a maker of injectable drugs, for $90 a share in cash. The deal is the first by Pfizer since it walked away from a merger with AstraZeneca last year. Like many other large drug companies, Pfizer is trying to generate more sales as its blockbuster drugs go generic. Hospira soared $22.84, or 35 percent, to $87.62 and Pfizer rose 92 cents, or 3 percent, to $32.99.

Oil also had a wild day.

Benchmark U.S. crude rose $2.03 to settle at $50.48 a barrel on the New York Mercantile Exchange, continuing a volatile ride that has lasted for several weeks. On Wednesday, oil plunged $4.60, or 8.7 percent, to settle at $48.45 a barrel the day before after the U.S. government reported an increase in crude inventories last week.

Few investors believe the turbulence in oil trading will end any time soon. While data earlier this week showed U.S. production is slowing, this week's crude oil inventory levels tell a different story.

"We're starting to see some production shifts, but it's happening slowly," Santos said. "Oil is going to keep making these big swings until something is done to deal with all this oversupply."

Brent crude, a benchmark for international oils, rose $2.50 to $56.66 a barrel in London.

U.S. stocks shrugged off more bad news in Europe. Greek stocks dropped as tensions between the country's new left-wing government and the European Central Bank intensified.

Greece's new left-wing government is insisting it will stick to its anti-austerity agenda, hours after the European Central Bank tightened the screws on Athens by withdrawing a key borrowing option for the country's banks.

Greek stocks dropped 3 percent on the news. European stocks closed mostly flat, after being down more sharply earlier in the trading day.

"The decision by the ECB to no longer accept Greek bonds as collateral may be aimed at piling the pressure on Greece to request an extension of its current bailout beyond February 28, but it is has also raised the risk that Greece could be forced into a default," said Jane Foley, an analyst at Rabobank International.

In other markets, U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 1.81 percent.

Gold fell $1.80 to $1,262.70 an ounce, silver fell 20 cents to $17.20 an ounce and copper was flat at $2.60 a pound.

In other energy commodities:

— Wholesale gasoline rose 4.3 cents to close at $1.525 a gallon.

— Heating oil rose 3.9 cents to close at $1.806 a gallon.

— Natural gas fell 6.2 cents to close at $2.600 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-60.59	points or ▼	-0.34%	on	Friday, 6 February 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,824.29	▼	-60.59	▼	-0.34%		
	Nasdaq____	4,744.40	▼	-20.70	▼	-0.43%		
	S&P_500___	2,055.47	▼	-7.05	▼	-0.34%		
	30_Yr_Bond____	2.52	▲	0.10	▲	4.00%		

NYSE Volume	 4,242,252,500 	 	 	 	 	  		 
Nasdaq Volume	 1,976,066,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,853.44	▼	-12.49	▼	-0.18%		
	DAX_____	10,846.39	▼	-59.02	▼	-0.54%		
	CAC_40__	4,691.03	▼	-12.27	▼	-0.26%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,774.70	▲	9.20	▲	0.16%		
	Shanghai_Comp	3,075.91	▼	-60.62	▼	-1.93%		
	Taiwan_Weight	9,456.18	▼	-55.87	▼	-0.59%		
	Nikkei_225___	17,648.50	▲	143.88	▲	0.82%		
	Hang_Seng.__	24,679.39	▼	-86.10	▼	-0.35%		
	Strait_Times.__	3,431.36	▲	24.78	▲	0.73%		
	NZX_50_Index_	5,797.59	▲	12.28	▲	0.21%		

http://www.kptv.com/story/28043113/us-stocks-give-up-gains-as-dividend-stocks-sink

*Safe-play stocks, bonds and gold sink after US hiring surge *

By KEN SWEET
AP Business Writer

NEW YORK (AP) - "Safety" wasn't safe Friday.

A blockbuster U.S. jobs report sent investors fleeing traditional places of comfort: dividend-paying stocks, as well as bonds and gold. The selling left major indexes slightly lower.

When nervous investors crowd into safe-haven assets, it's known on Wall Street as a "flight to safety." On Friday, it was a flight from safety as investors grew more confident that the economy would grow.

"The January employment report was strong across the board," said Michelle Girard, an economy at RBS Securities, in a note to clients. "The data were clearly very healthy."

Gold fell more than 2 percent. As bond prices fell, the yield on the 10-year Treasury note jumped to 1.95 percent from 1.81 percent, a large move. Yields on shorter-term Treasury securities moved even more.

High-dividend utility stocks, one of the best performing parts of the market over the last 12 months, took a beating. The Dow Jones utility index, a collection of 15 utility companies, plunged 4 percent, its worst day since August 2011.

January's jobs report startled investors who have become accustomed to near-zero interest rates. U.S. employers added 257,000 jobs last month and wages jumped by the most in six years, evidence that the job market is closer to full health. The gain was far better than the 230,000 jobs economists had expected.

The government also said hiring was far stronger in November and December than previously estimated. Wages, which have been mostly stagnant since the recession, rose at the fastest pace since 2008.

The Dow Jones industrial average fell 60.59 points, or 0.3 percent, to 17,824.29. The Standard & Poor's 500 index lost 7.05 points, or 0.3 percent, to 2,055.47 and the Nasdaq composite fell 20.70 points, or 0.4 percent, to 4,744.40.

Understanding why a strong jobs report could cause the stock market to slide requires some counterintuitive thinking.

Unlike their counterparts in Europe and Asia, U.S. central bankers are poised to start raising interest rates. The exact timing of the Federal Reserve's interest rate move is unknown, but every investor has an opinion on when and how it will happen. Strategists say the January jobs report, as well as the November and December revisions, gives the Fed more ammunition to justify an interest rate increase sooner rather than later.

"There's an underlying nervousness in this market built on cheap money," said Russ Koesterich, global chief investment strategist at BlackRock.

Trading Friday in Fed fund futures, securities that reflect investors' views on when the Federal Reserve might change interest rates, suggested a rising likelihood that the Fed could raise interest rates as soon as June.

Near-zero interest rates have been a key factor driving the stock market's dramatic rise since March 2009. By keeping interest rates low, the Fed has made bonds seem expensive and, by comparison, stocks cheap. So if interest rates are to rise, a richly-priced stock market would tend to be less attractive to investors, strategists say.

This dynamic was reflected in trading in utility stocks on Friday. Utility stocks typically pay consistently high dividends and tend to fluctuate less than other stocks, giving them some attributes of a bond. That makes them appealing to investors seeking income with relatively less risk compared with other parts of the stock market.

"It's much more difficult to justify these high prices for utility stocks with yields rising like this," Koesterich said.

Banks, which can profit from higher rates by charging more for loans, rose Friday.

Despite Friday's downturn, it has been a good week overall for investors. The Dow ended up 3.8 percent and the S&P 500 climbed 3 percent. Stocks have now reclaimed the ground the lost in January.

The price of oil also rebounded this week. U.S. crude jumped 7 percent, its biggest gain since February 2011, during the Arab Spring and turmoil in Libya.

On Friday U.S. crude rose $1.21 a barrel, or 2.4 percent, to close at $51.69 a barrel. Brent, the international standard, gained $1.23, or 2.2 percent, to end at $57.80 a barrel in London.

The price of oil is still down by about half from last June because of a glut in global supplies.

In other metals trading, silver fell 50 cents, or 2.9 percent, to $16.69 an ounce and copper fell a penny to $2.59 a pound.

In other futures trading on the NYMEX:

Wholesale gasoline rose 3.4 cents to close at $1.559 a gallon.

Heating oil rose 3.3 cents to close at $1.839 a gallon.

Natural gas fell 2.1 cents to close at $2.579 per 1,000 cubic feet. It was the eighth down day for natural gas out of the last 9, pushing natural gas to its lowest level since June of 2012.

5479


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-95.08	points or ▼	-0.53%	on	Monday, 9 February 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,729.21	▼	-95.08	▼	-0.53%		
	Nasdaq____	4,726.01	▼	-18.39	▼	-0.39%		
	S&P_500___	2,046.74	▼	-8.73	▼	-0.42%		
	30_Yr_Bond____	2.52	▲	0.00	▲	0.08%		

NYSE Volume	 3,507,667,750 	 	 	 	 	  		 
Nasdaq Volume	 1,585,009,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,837.15	▼	-16.29	▼	-0.24%		
	DAX_____	10,846.39	▼	-59.02	▼	-0.54%		
	CAC_40__	4,691.03	▼	-12.27	▼	-0.26%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,770.10	▼	-4.60	▼	-0.08%		
	Shanghai_Comp	3,095.12	▲	19.22	▲	0.62%		
	Taiwan_Weight	9,421.50	▼	-34.68	▼	-0.37%		
	Nikkei_225___	17,711.93	▲	63.43	▲	0.36%		
	Hang_Seng.__	24,521.00	▼	-158.39	▼	-0.64%		
	Strait_Times.__	3,419.71	▼	-11.65	▼	-0.34%		
	NZX_50_Index_	5,769.57	▼	-28.02	▼	-0.48%		

http://finance.yahoo.com/news/stocks-head-lower-concerns-mount-152727608.html

*Stocks head lower as concerns mount over China, Greece

US stocks head lower following weak Chinese trade report and concerns over Greece*
Associated Press
By Matthew Craft, AP Business Writer 

NEW YORK (AP) -- Concerns about the world economy helped tug U.S. stocks lower on Monday as worries mount over Greece's standoff with its creditors.

Major indexes headed lower at the opening of trading, following European markets down. A rebound in crude oil drove energy stocks higher.

With no major reports on the U.S. economy to hold their attention, investors looked abroad.

"There's still a lot of uncertainty around Greece," said Jack Ablin, chief investment officer at BMO Private Bank. "It's one of these tectonic plates shifting around the financial system."

Greece's new prime minister, Alexis Tsipras, set his government on a collision course with the country's creditors. In a speech on Sunday, Tsipras declared an end to a regimen of budget cuts and tax increases and said he would push for a short-term loan to give the country and its creditors time to negotiate a new arrangement to replace its bailout program. Greece and its international creditors were expected to take up the issue later this week.

For investors, the worry is that if Greece drops the European currency, it could have unpredictable consequences for the wider financial system. One fear is that other countries with much larger economies might follow Greece out the door.

The Standard & Poor's 500 slipped 8.73 points, or 0.4 percent, to close at 2,046.74. Of the 10 sectors in the index, only energy companies finished higher.

The Dow Jones industrial average fell 95.08 points, or 0.5 percent, to 17,729.21, while the Nasdaq composite fell 18.39 points, or 0.4 percent, to 4,726.01.

Hasbro jumped $3.92, or 7 percent, to $59.66 after the toy company turned in stronger quarterly results. Sales of toys geared toward boys surged, led by Transformers, Nerf and Marvel-brand action heroes. Hasbro also raised its dividend and expanded plans to buy back its own shares.

McDonald's reported that a key measure of global sales shrank last month, as sales slumped across the Middle East, Africa and Asia. The world's biggest hamburger chain dropped $1.27, or 1 percent, to $92.72.

This week marks the half-way point for the fourth-quarter earnings season, and the results are shaping up better than Wall Street had expected. Seven out of 10 big companies have turned in higher profits than analysts had forecast, putting overall earnings on track to rise 7 percent for the full quarter, according to S&P Capital IQ.

In other trading on Monday, U.S. crude oil rose $1.17, or 2.3 percent, to close at $52.86 a barrel in New York, while brent crude, the international benchmark, rose 54 cents to $58.34 in London. The gains came as OPEC said that it expects demand for crude to rise this year and U.S. output to fall.

Higher prices for crude oil helped lift stocks in companies tied to the oil industry. Nabors Industries, a driller, and National Oilwell Varco each gained 3 percent.

Major markets in Europe closed lower. France's CAC-40 lost 0.9 percent, and Germany's DAX fell 1.7 percent. Greece's main Athens Exchange lost 4.7 percent.

Interest rates on government bonds in Italy and Spain jumped, though they still remain near historic lows.

In Asia, most major stock markets closed lower following news that China's imports fell nearly 20 percent over a year earlier. Exports were also weak, heightening concerns about the world's second-largest economy.

Hong Kong's Hang Seng fell 0.6 percent while South Korea's Kospi slipped 0.4 percent. Japan's Nikkei 225 added 0.4 percent.

Back in the U.S., prices for government bonds edged up, pushing long-term interest rates down. The yield on the 10-year Treasury note slipped to 1.95 percent.

In the commodity markets, gold gained $6.90 to settle at $1,241.50 an ounce, while silver rose 38 cents to $17.07 an ounce. Copper lost half a penny to $2.85 a pound.

In other trading on the New York Mercantile Exchange:

”” Wholesale gasoline rose 1.9 cents to close at $1.578 a gallon.

”” Heating oil rose 3.4 cents to close at $1.873 a gallon.

”” Natural gas rose 1.8 cents to close at $2.597 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	139.55	points or ▲	0.79%	on	Tuesday, 10 February 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,868.76	▲	139.55	▲	0.79%		
	Nasdaq____	4,787.64	▲	61.63	▲	1.30%		
	S&P_500___	2,068.59	▲	21.85	▲	1.07%		
	30_Yr_Bond____	2.57	▲	0.05	▲	1.98%		

NYSE Volume	 3,642,547,000 	 	 	 	 	  		 
Nasdaq Volume	 1,720,542,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,829.12	▼	-8.03	▼	-0.12%		
	DAX_____	10,753.83	▲	90.32	▲	0.85%		
	CAC_40__	4,695.65	▲	44.57	▲	0.96%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,757.40	▼	-12.70	▼	-0.22%		
	Shanghai_Comp	3,141.59	▲	46.47	▲	1.50%		
	Taiwan_Weight	9,393.70	▼	-27.80	▼	-0.30%		
	Nikkei_225___	17,652.68	▼	-59.25	▼	-0.33%		
	Hang_Seng.__	24,528.10	▲	7.10	▲	0.03%		
	Strait_Times.__	3,434.24	▲	16.22	▲	0.47%		
	NZX_50_Index_	5,784.09	▲	14.52	▲	0.25%		

http://finance.yahoo.com/news/us-st...stors-assess-earnings-150237303--finance.html

*US stocks advance on earnings, possible Greece deal*
Associated Press
By STEVE ROTHWELL

NEW YORK (AP) ”” A mix of positive earnings and corporate news boosted stocks on Tuesday. Signs that Greece might be willing to broker a deal with its creditors also gave the market a lift.

Coca-Cola rose after the company reported a better-than-expected quarterly profit. General Motors gained after an activist investor said he would seek a seat on the company's board and push for a stock buyback.

Stock investors have had a bumpy ride since the start of the year.

The market slumped in January as the ongoing drop in oil prices hit energy stocks and amid worries about the prospects for global growth. Stocks have bounced back in February as energy stocks rose from their lows and on signs that the U.S. economy is maintaining its recovery. On Tuesday, stocks logged a solid gain even after a big drop in oil prices pushed the energy sector lower.

"The economic data is coming in OK, and when you delve into the big picture of the earnings reports, they're not bad," said Robert Pavlik, Chief Investment Strategist at Boston Private Wealth. "People want to be in the market when it starts to go back up."

The Standard & Poor's 500 index rose 21.85 points, or 1.1 percent, to 2,068.59. The Dow Jones industrial average gained 139.55 points, or 0.8 percent, to 17,868.76. The Nasdaq composite rose 61.63 points, or 1.3 percent, to 4,787.64.

Investors were encouraged by signs that a deal could be reached between Greece and its lenders. The nation's new prime minister voiced confidence Monday that a compromise can be reached at high-stakes meetings in coming days.

Greece's stocks and bonds have taken a drubbing this year after the radical left-led government renewed a pledge to seek debt forgiveness and dubbed the country's rescue package, with its conditions of strict austerity, a "toxic fantasy."

"There's a growing sense that the two sides in the negotiations may be moving toward some compromise," said Quincy Krosby, a market strategist at Prudential Financial.

Energy stocks took a hit on Tuesday after the International Energy Agency said that the recent rebound in oil prices "will be comparatively limited in scope." Analysts at Citigroup said the upturn would likely to prove short-lived and predicted that rising inventory costs could push the price as low as $20 a barrel.

Oil dropped more than 5 percent, erasing three days of gains. Benchmark U.S. crude fell $2.84 to close at $50.02 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.91 to close at $56.43 in London.

Among individual stocks, Coca-Cola was one of the day's winners after reporting a better-than-expected quarterly profit. The company trimmed costs and fetched higher prices for its drinks in North America.

The world's biggest beverage maker has been struggling to boost global sales amid tepid growth overseas and a shift away from soda back at home. The company's stock rose $1.17, or 2.8 percent, to $42.40.

General Motors rose after Harry Wilson, a former hedge fund manager and one-time member of the Obama administration's task force that helped to restructure GM and Chrysler in 2009, said he'll seek a seat on GM's board at the automaker's annual meeting this summer and will push for an $8 billion stock buyback to take place next year. Wilson is acting with the backing of a variety of hedge funds.

GM rose $1.52, or 4.2 percent, to $37.52.

U.S. government bond prices were little changed. The yield on the benchmark Treasury note was flat at 1.98 percent.

The dollar strengthened to 119.43 yen from 118.58 yen Monday. The euro declined to $1.1313 from $1.1330.

In metals trading, gold fell $9.30 to $1,232.20 an ounce, silver fell 20 cents to $16.87 an ounce and copper fell three cents to $2.55 a pound.

In other energy futures trading on the NYMEX:

”” Wholesale gasoline fell 2.6 cents to close at $1.552 a gallon.

”” Heating oil fell 4 cents to close at $1.833 a gallon.

”” Natural gas rose 8 cents to close at $2.677 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-6.62	points or ▼	-0.04%	on	Wednesday, 11 February 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,862.14	▼	-6.62	▼	-0.04%		
	Nasdaq____	4,801.18	▲	13.54	▲	0.28%		
	S&P_500___	2,068.53	▼	-0.06	▲	0.00%		
	30_Yr_Bond____	2.56	▼	-0.01	▼	-0.27%		

NYSE Volume	 3,568,424,500 	 	 	 	 	  		 
Nasdaq Volume	 1,752,518,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,818.17	▼	-10.95	▼	-0.16%		
	DAX_____	10,752.11	▼	-1.72	▼	-0.02%		
	CAC_40__	4,679.38	▼	-16.27	▼	-0.35%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,731.70	▼	-25.70	▼	-0.45%		
	Shanghai_Comp	3,157.70	▲	16.11	▲	0.51%		
	Taiwan_Weight	9,462.22	▲	68.52	▲	0.73%		
	Nikkei_225___	17,652.68	▼	-59.25	▼	-0.33%		
	Hang_Seng.__	24,315.02	▼	-213.08	▼	-0.87%		
	Strait_Times.__	3,444.57	▲	10.33	▲	0.30%		
	NZX_50_Index_	5,789.18	▲	5.09	▲	0.09%		

http://finance.yahoo.com/news/us-stocks-end-little-changed-212051329.html
*
US stocks end little changed as Greek debt meeting begins

US stocks close effectively unchanged as European ministers meet to discuss Greece's debt*
Associated Press
By Ken Sweet, AP Business Writer

NEW YORK (AP) -- U.S. stocks closed effectively flat in quiet trading Wednesday as investors waited to see what the outcome would be of an emergency meeting between Greece and the rest of the eurozone to discuss the country's finances.

Energy stocks were among the biggest decliners as the price of oil fell.

The Dow Jones industrial average edged down 6.62 points, or 0.04 percent, to 17,862.14. The Standard & Poor's 500 index closed flat, down 0.06 of a point to 2,068.53 and the Nasdaq composite rose 13.54 points, or 0.3 percent, to 4,801.18.

Once again, investors turned their eyes to Europe. Finance ministers from nations that use the euro held an emergency meeting in Brussels on Wednesday, the group's first opportunity to hear directly from Greece's new government.

Greece wants to renegotiate the terms of its international bailout, which has imposed years of punishing austerity on the country. The current agreement expires in late February. Speculation that Greece could be granted extra time to hold new negotiations lifted markets Tuesday.

"At the moment, it seems European leaders and Greece are willing to meet each other in the middle and this has comforted investors' concerns after the aggressive tone by Greek Prime Minister Tsipras over the weekend," Stan Shamu, market strategist at IG, said in a commentary.

One source of weakness in U.S. markets was energy stocks.

The price of oil fell back below $50 a barrel after the Energy Department reported that U.S. crude inventories rose by 4.9 million barrels last week to their highest level for this time of year "in at least the last 80 years."

Benchmark U.S. crude fell $1.18 to close at $48.84 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.77 to close at $54.66 in London.

Transocean, one of the world's largest drilling rig companies, fell 4 percent while Pioneer Natural Resources, another major oil exploration company, fell 4 percent as well. Both were the biggest decliners in the S&P 500.

In other energy commodities, wholesale gasoline fell 0.9 cent to close at $1.543 a gallon. Heating oil fell 1.9 cents to close at $1.814 a gallon. Natural gas rose 12 cents to close at $2.797 per 1,000 cubic feet.

U.S. government bond prices were little changed. The yield on the 10-year Treasury note was flat at 2 percent.

Gold fell $12.60 to $1,219.60 an ounce, silver fell 11 cents to $16.76 an ounce and copper lost a penny to $2.54 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	110.24	points or ▲	0.62%	on	Thursday, 12 February 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,972.38	▲	110.24	▲	0.62%		
	Nasdaq____	4,857.61	▲	56.64	▲	1.18%		
	S&P_500___	2,088.48	▲	19.95	▲	0.96%		
	30_Yr_Bond____	2.57	▲	0.01	▲	0.27%		

NYSE Volume	 3,781,206,750 	 	 	 	 	  		 
Nasdaq Volume	 1,982,049,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,828.11	▲	9.94	▲	0.15%		
	DAX_____	10,919.65	▲	167.54	▲	1.56%		
	CAC_40__	4,726.20	▲	46.82	▲	1.00%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,707.70	▼	-24.00	▼	-0.42%		
	Shanghai_Comp	3,173.42	▲	15.71	▲	0.50%		
	Taiwan_Weight	9,496.31	▲	34.09	▲	0.36%		
	Nikkei_225___	17,979.72	▲	327.04	▲	1.85%		
	Hang_Seng.__	24,422.15	▲	107.13	▲	0.44%		
	Strait_Times.__	3,415.08	▼	-29.49	▼	-0.86%		
	NZX_50_Index_	5,749.31	▼	-39.87	▼	-0.69%		

http://finance.yahoo.com/news/stocks-muted-ahead-emergency-meeting-145910783.html

*US stocks approach record as technology, energy stocks gain*
Associated Press
By STEVE ROTHWELL

NEW YORK (AP) ”” U.S. stocks climbed back close to record levels on Thursday as technology, materials and energy companies all notched big gains.

Cisco Systems led the technology sector higher after reporting better-than-expected earnings. Energy stocks rose as the price of oil rebounded following two days of heavy losses.

There were also big gains for online travel companies. Expedia and Orbitz jumped after Expedia said that it was acquiring its rival. TripAdvisor also surged amid speculation that the wave of consolidation in the industry would continue.

Stocks have logged big gains in February after a slumping to their worst month in a year in January on worries about the outlook for the global economy. Company earnings are still growing and the U.S. economy appears to be maintaining its recovery as hiring picks up.

"People were getting a little bit overly pessimistic," said Karyn Cavanaugh, a senior market strategist at Voya Investment Management. "I still think we're going to see a pretty decent year for the market."

The Standard & Poor's 500 index rose 19.95 points, or 1 percent, to 2,088.48. The index is within two points of its record close of 2,090.57, set Dec. 29.

The Dow Jones industrial average gained 110.24 points, or 0.6 percent, to 17,972. The Nasdaq composite climbed 56.43 points, or 1.2 percent, to 4,857.61.

Stocks had started the day higher on some encouraging news from Europe, where world leaders clinched a cease-fire deal for Ukraine and as investors remained hopeful that Greece would be able to reach an agreement with its creditors.

An emergency meeting Wednesday between Greece's new government and finance ministers from nations that use the euro ended in a stalemate. Greece wants its creditors to ease the terms of a bailout program that has imposed years of austerity on the country.

Investors are hopeful that a deal will be reached before the country's financial rescue program expires at the end of the month. The main Athens stock index jumped 6.7 percent.

In the U.S., TripAdvisor was the biggest gainer in the S&P 500, surging $15.13, or 23 percent, to $82.40, after the announcement of Expedia's bid for Orbitz.

Cisco, a major maker of computer networking equipment, was another big gainer. The stock jumped $2.53, or 9.4 percent, to $29.46 after it reported earnings late Wednesday that exceeded analysts' expectations. The company's outlook for the full year was also better than expected.

The S&P 500 index is up 4.7 percent for the month. If the market closes out the month at this level, it will be the best performance for the index since July 2013.

On Thursday, American Express was among the day's losers after the company said that it hasn't been able to come to an agreement to renew and exclusivity deal with Costco. The current agreement covers U.S. stores and dates back 16 years. It will end March 31, 2016.

Amex slumped $5.53, or 6.4 percent, to $80.48.

In energy trading, the price of oil rose sharply as the CEO of Royal Dutch Shell said he expects crude demand will grow faster than supply this year. Benchmark U.S. crude rose $2.37 to close at $51.21 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $2.39 to close at $57.05 in London.

Oil has recovered since falling 60 percent in the past seven months. It went as low as $45 a barrel at the end of January. The rebound is encouraging investors who had worried that the slump was signal of a slowing global economy.

In U.S. government bond trading, prices rose slightly. The yield on the benchmark 10-year Treasury note edged down to 1.97 percent from 1.99 percent on Wednesday.

The dollar fell to 119 yen from 120.16 yen the previous day. The euro rose to $1.1406 from $1.1319.

In metals trading, gold rose $1.10 to $1,220.70 an ounce, silver rose three cents to $16.79 an ounce and copper rose five cents to $2.60 a pound.

In other energy trading, In other futures trading on the NYMEX:

”” Wholesale gasoline rose 5.3 cents to close at $1.596 a gallon.

”” Heating oil rose 10 cents to close at $1.914 a gallon.

”” Natural gas fell 8.4 cents to close at $2.713 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	46.97	points or ▲	0.26%	on	Friday, 13 February 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,019.35	▲	46.97	▲	0.26%		
	Nasdaq____	4,893.84	▲	36.22	▲	0.75%		
	S&P_500___	2,096.99	▲	8.51	▲	0.41%		
	30_Yr_Bond____	2.63	▲	0.06	▲	2.14%		

NYSE Volume	 3,534,205,000 	 	 	 	 	  		 
Nasdaq Volume	 1,897,722,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,873.52	▲	45.41	▲	0.67%		
	DAX_____	10,963.40	▲	43.75	▲	0.40%		
	CAC_40__	4,759.36	▲	33.16	▲	0.70%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,835.50	▲	127.80	▲	2.24%		
	Shanghai_Comp	3,203.83	▲	30.41	▲	0.96%		
	Taiwan_Weight	9,529.51	▲	33.20	▲	0.35%		
	Nikkei_225___	17,913.36	▼	-66.36	▼	-0.37%		
	Hang_Seng.__	24,682.54	▲	260.39	▲	1.07%		
	Strait_Times.__	3,426.22	▲	7.05	▲	0.21%		
	NZX_50_Index_	5,786.54	▲	37.23	▲	0.65%		

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Stocks close at a record high as energy sector recovers

US stocks close at record high as oil rebound lifts the energy sector; CBS gains on earnings*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- A slight gain was enough to push the stock market to a record high Friday.

Stocks climbed as a rebound in oil prices pushed energy stocks higher. A report showing faster-than-forecast growth in Europe at the end of last year also boosted investor sentiment.

Investors were also picking over the latest earnings news. CBS gained after strong advertising revenue boosted its earnings. V.F. Corporation, a clothing company whose brands include Vans, Wrangler and Timberland, jumped after giving an upbeat outlook for the year.

Stocks have surged in February, rebounding from a January slump, as recovering oil prices have boosted energy stocks. Growing corporate earnings and the announcement of more stimulus from the European Central Bank to boost growth in the region have also helped turn around investor sentiment this month.

"Stability seems to be coming back," said JJ Kinahan, chief strategist at TD Ameritrade. "Overall, I think the market is going to go higher ... but it may be a case of two steps forward, one step back."

The Standard & Poor's 500 rose 8.51 points, or 0.4 percent, to 2,096.99. That surpassed the previous record close of 2,090.57 set Dec. 29.

The Dow Jones industrial average climbed 46.97 points, or 0.3 percent, to 18,019.35. The index is still 35 points short of its all-time high. The Nasdaq composite gained 36.22 points, or 0.8 percent, to 4,893.84.

About three-quarters of the companies in the S&P 500 index have now reported results for the fourth quarter, and earnings for the period are projected to rise by 7.5 percent. While that is a decline from growth of 10.4 percent in the previous quarter, it's better than analysts were expecting at the start of December.

On Friday, V.F. Corporation was one of the biggest gainers in the S&P 500. The company's stock rose $4.26, or 6 percent, to $75.26 after it said that it was expecting "meaningful growth" in all of its markets worldwide. That's despite challenges it faces from a strengthening dollar.

CBS was another winner on Friday.

The media company gained $2.06, or 3.6 percent, to $59.83 after it reported earnings late Thursday that were slightly better than Wall Street analysts had been expecting. The company got a boost from higher advertising revenues, led by the broadcast of "Thursday Night Football" and political ad revenues associated with the midterm elections.

This month's sharp gains are making some analysts cautious on stocks.

The price-earnings ratio for next year's earnings for S&P 500 companies is at 17.1, the highest level in more than a decade. The measure is a gauge of how much investors are willing to pay for a company's earnings.

"Watch those valuation levels very carefully," said James Liu, Global Market Strategist for J.P. Morgan Asset Management.

Rather than tracking the broader market investors should focus on certain sectors, Liu says. At the moment he favors so-called consumer discretionary stocks, which should benefit as hiring picks and consumers get more money in their pockets from lower gas prices.

ConAgra was one of the biggest losers in the S&P 500 on Friday.

The food company, whose brands include Swiss Miss hot chocolate mix and Slim Jim beef jerky, dropped $1.59, or 4.4 percent, to $34.83 after cutting its earnings outlook for the year late Thursday. ConAgra blamed the impact of a stronger dollar and intense competition for its Private Brands unit.

While energy stocks have been rebounding this year, one of last year's biggest gainers is this year's biggest decliner.

Utilities surged 25 percent last year as investor pushed up the price of the dividend-rich stocks as bond yields fell. Now, as bond yields are showing signs of rising from their lows, investors are dumping the stocks. The sector is down 7 percent this month.

Stocks in the U.S. again got a lift from developments in Europe.

Data out Friday showed the eurozone economy picked up speed in the fourth quarter thanks to better growth in Germany and Spain. The currency union's economy grew 0.3 percent in the October-December period compared with the previous quarter, more than expected, thanks also to lower oil prices and a weaker euro. The growth rate, while encouraging, is still only about half that of the U.S.

Greece and its creditors in the 19-country eurozone took visible, if modest, steps to bridge their differences over Athens' demands to lighten the load of its financial bailout. Investors are hopeful that a deal will be reached to avoid Greece's exit from the euro.

In energy trading, benchmark U.S. crude rose $1.57 to $52.78 a barrel on the New York Mercantile Exchange. Brent crude climbed $2.24 to $61.52 a barrel in London.

In U.S. government bond trading, prices fell slightly. The yield on the 10-year benchmark government note edged up to 2.04 percent from 1.99 percent on Tuesday.

The dollar was little changed against the Japanese yen and the euro. The dollar traded at 118.75 yen, down from 118.85 yen the previous day. The euro was flat at $1.1406.

In metals trading, precious and industrial metals futures closed higher. Gold rose $6.40 to $1,227.10 an ounce, silver jumped 50 cents to $17.29 an ounce and copper edged up less than a penny to $2.61 a pound.

In other energy futures trading on the NYMEX:

— Wholesale gasoline rose 3 cents to close at $1.626 a gallon.

— Heating oil rose 5.7 cents to close at $1.971 a gallon.

— Natural gas rose 9.1 cents to close at $2.804 per 1,000 cubic feet.

6093


----------



## bigdog

Source: http://finance.yahoo.com 

*The NYSE was closed for Washington’s Birthday holiday on Monday February 17	* 

 *The NYSE DOW closed  	HIGHER ▲	46.97	points or ▲	0.26%	on	Friday, 13 February 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,019.35	▲	46.97	▲	0.26%	HOLIDAY	
	Nasdaq____	4,893.84	▲	36.22	▲	0.75%	HOLIDAY	
	S&P_500___	2,096.99	▲	8.51	▲	0.41%	HOLIDAY	
	30_Yr_Bond____	2.63	▲	0.06	▲	2.14%	HOLIDAY	

NYSE Volume	 3,534,205,000 	 	 	 	 	  		 
Nasdaq Volume	 1,897,722,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,857.05	▼	-16.47	▼	-0.24%		
	DAX_____	10,923.23	▼	-40.17	▼	-0.37%		
	CAC_40__	4,751.95	▼	-7.41	▼	-0.16%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,849.50	▲	14.00	▲	0.24%		
	Shanghai_Comp	3,222.36	▲	18.54	▲	0.58%		
	Taiwan_Weight	9,529.51	▲	33.20	▲	0.35%		
	Nikkei_225___	18,004.77	▲	91.41	▲	0.51%		
	Hang_Seng.__	24,726.53	▲	43.99	▲	0.18%		
	Strait_Times.__	3,427.16	▲	0.94	▲	0.03%		
	NZX_50_Index_	5,758.25	▼	-28.29	▼	-0.49%		

http://finance.yahoo.com/news/asia-stocks-gain-japan-exits-091524669.html

*Europe stocks wary on Greece, Asia up on Japan recession end*
Associated Press

LONDON (AP) ”” European stocks edged lower on Monday as investors were skeptical that Greece and its European creditors would find a quick deal to solve the country's debt problems. Asian stocks, however, closed higher after Japan emerged from recession.

KEEPING SCORE: Germany's DAX fell 0.4 percent to close at 10,923.23 and France's CAC 40 dropped 0.2 percent to 4,751.95. Britain's FTSE 100 inched down 0.2 percent to 6,857.05. In Asia, Tokyo's Nikkei 225 jumped 0.5 percent to 18,004.77 and the Shanghai Composite Index added 0.6 percent to 3,222.36. Hong Kong's Hang Seng gained 0.2 percent to 24,726.50. Wall Street is closed for a public holiday.

GREEK TENSIONS: Eurozone finance ministers meet Monday to consider Greece's proposal for short-term "bridge financing" without the onerous terms previously imposed on the country until a longer-term solution to Greece's crushing debt is found. Investors hope an agreement will be reached to avoid Greece's exit from the euro. Germany's finance minister on Monday said a quick deal on Monday is unlikely. That pushed Athens' stock index down almost 4 percent.

JAPAN REBOUND: Asia was buoyed by news Japan emerged from recession last quarter, even though growth fell short of many forecasters' expectations. Data on Monday showed the world's third-largest economy grew at a 2.2 percent annualized rate in the three months ending in October, boosted by exports and public spending. Growth for 2014 was flat and real wages fell 0.1 percent. Private investment was anemic, suggesting that businesses and households still are cautious. Japan's economy slipped into recession last year after the government increased sales tax in April.

THE QUOTE: "The fact that the economic growth started stabilizing should be reassuring to both the government and the Bank of Japan," said economist Yoshiro Sato of Credit Agricole-CIB in a report. "That said, the level of real GDP is still far below that before the consumption tax hike and that will require continued efforts made by the government side in terms of structural reforms."

ENERGY: U.S. benchmark crude was up 22 cents at $53.00 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained $1.57 on Friday to close at $52.78.

CURRENCIES: The dollar dropped to 118.48 yen from 118.76 yen late Friday. The euro was steady at $1.1390.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	28.23	points or ▲	0.16%	on	Tuesday, 17 February 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,047.58	▲	28.23	▲	0.16%		
	Nasdaq____	4,899.27	▲	5.43	▲	0.11%		
	S&P_500___	2,100.34	▲	3.35	▲	0.16%		
	30_Yr_Bond____	2.74	▲	0.11	▲	4.27%		

NYSE Volume	 3,289,191,250 	 	 	 	 	  		 
Nasdaq Volume	 1,675,401,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,898.13	▲	41.08	▲	0.60%		
	DAX_____	10,895.62	▼	-27.61	▼	-0.25%		
	CAC_40__	4,753.99	▲	2.04	▲	0.04%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,822.30	▼	-27.20	▼	-0.47%		
	Shanghai_Comp	3,246.91	▲	24.54	▲	0.76%		
	Taiwan_Weight	9,529.51	▲	33.20	▲	0.35%		
	Nikkei_225___	17,987.09	▼	-17.68	▼	-0.10%		
	Hang_Seng.__	24,784.88	▲	58.35	▲	0.24%		
	Strait_Times.__	3,415.91	▼	-11.25	▼	-0.33%		
	NZX_50_Index_	5,750.21	▼	-8.03	▼	-0.14%		


*MY APOLOGIES FOR POSTING THIS EARLY REPORT; I HAVE AN IMPORTANT APPOINTMENT THAT I MUST ATTEND SHORTLY*

http://finance.yahoo.com/news/us-stocks-edge-higher-bringing-183930860.html

*US stocks edge higher, bringing market back to record

US stocks edge higher in afternoon trading, pulling the market back to a record*
Associated Press
By Ken Sweet, AP Business Writer

NEW YORK (AP) -- U.S. stocks edged slightly higher in late afternoon trading Tuesday as investors continued to watch Greece's debt talks and hoped a deal would eventually be reached to keep the country from falling out of the eurozone.

KEEPING SCORE: The Dow Jones industrial average was up nine points, or 0.1 percent, to 18,027 as of 3:03 p.m. Eastern. The Standard & Poor's 500 index was up a point, or 0.1 percent, 2,098. The Nasdaq composite was flat at 4,894.

GREEK DRAMA: Greece is considering requesting an extension to its loan agreement, government officials said Tuesday, in an effort to reach a last-minute deal with the country's European creditors and avoid the danger of a euro exit.

After five years of punishing austerity, Greece wants to scrap its existing program in favor of a new one with easier terms. If no agreement is reached by the end of the month, investors expect that Greece may have little option but to default and stop using the euro currency. Most analysts expect a deal will be reached in time and this extension is the latest sign that an agreement will be reached.

THE QUOTE: "Greece's new government wants more independence, but it doesn't want that independence at all costs," said Anastasia Amoroso, a global market strategist at JPMorgan Funds. "The extension is good news because it buys Greece and the eurozone time to reach a long-term resolution."

BONDS: The yield on the benchmark U.S. 10-year note jumped to 2.15 percent from 2.05 percent on Friday. Bond yields have been climbing sharply since the start of the month as investors become more confident that the Federal Reserve will raise interest rates this year.

On Wednesday, the Fed will release the minutes from its January policy meeting. Investors expect the language to signal that the nation's central bank is on track for a modest interest rate hike as early as June.

EUROPE: Market indexes ended mixed across the continent. Germany's DAX edged down 0.3 percent. Britain's FTSE 100 rose 0.6 percent and France's CAC-40 closed mostly flat. Greek stocks fell 2.5 percent.

ENERGY: U.S. benchmark crude added 84 cents to $53.59 per barrel on the New York Mercantile Exchange. The contract gained $1.57 to close at $52.78 Friday. U.S. markets were closed Monday for Presidents Day.

BURNING RUBBER: Goodyear Tire & Rubber's stock surged after the company reported a jump in its quarterly profit, thanks to a $2 billion tax credit that offset the effect of a stronger dollar on sales. Goodyear rose 84 cents, or 3 percent, to $26.75.

ROOM UPGRADE: Starwood Hotels was up $2.37, or 3 percent, to $80.92 after the company announced the sudden resignation of its CEO Frits van Paasschen. The company's board of directors said it would pivot the company toward timeshares and other high-growth areas of the hospitality industry.

METALS: Gold fell $18.50, or 1.5 percent, to $1,208.60 an ounce. Silver fell 92 cents, or 5 percent, to $16.40 an ounce and copper fell 2 cents, or 1 percent, to $2.58 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-17.73	points or ▼	-0.10%	on	Wednesday, 18 February 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,029.85	▼	-17.73	▼	-0.10%		
	Nasdaq____	4,906.36	▲	7.10	▲	0.14%		
	S&P_500___	2,099.68	▼	-0.66	▼	-0.03%		
	30_Yr_Bond____	2.70	▼	-0.04	▼	-1.57%		

NYSE Volume	 3,338,230,250 	 	 	 	 	  		 
Nasdaq Volume	 1,645,685,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,898.08	▼	-0.05	▲	0.00%		
	DAX_____	10,961.00	▲	65.38	▲	0.60%		
	CAC_40__	4,799.03	▲	45.04	▲	0.95%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,877.90	▲	55.60	▲	0.95%		
	Shanghai_Comp	3,246.91	▲	24.54	▲	0.76%		
	Taiwan_Weight	9,529.51	▲	33.20	▲	0.35%		
	Nikkei_225___	18,199.17	▲	212.08	▲	1.18%		
	Hang_Seng.__	24,832.08	▲	47.20	▲	0.19%		
	Strait_Times.__	3,435.66	▲	19.75	▲	0.58%		
	NZX_50_Index_	5,741.36	▼	-8.85	▼	-0.15%		

http://finance.yahoo.com/news/us-stock-market-ends-mostly-211331210.html

US stock market ends mostly lower
S&P 500, Dow end slightly lower after Fed releases meeting minutes
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The U.S. stock market edged mostly lower on Wednesday, easing back from its latest all-time highs.

The markets barely budged following the midafternoon release of minutes from the Federal Reserve's January meeting. The transcript showed that policymakers were less likely to raise interest rates in June than investors previously thought.

The decline follows two straight days of record closing highs for the Standard & Poor's 500 index.

"The market had really gathered steam around a June tightening date, the minutes seem to have walked that back a bit," said David Lafferty, chief market strategist at Natixis Global Asset Management.

The Dow Jones industrial average slipped 17.73 points, or 0.1 percent, to 18,029.85. The S&P 500 eased 0.7 point, or 0.03 percent, to 2,099.68. The index closed at an all-time high of 2,100.34 on Tuesday.

The Nasdaq composite rose 7.10 points, or 0.1 percent, to 4,906.36.

Major stock indexes opened lower early Wednesday. Energy stocks declined as the price of oil fell amid speculation that a recent rally in crude was excessive.

The price of benchmark U.S. crude, which had been rising last week, fell $1.39 to $52.14 a barrel Wednesday. The price of oil has jumped 16 percent since bottoming out at the end of January after a seven-month slump.

Brent crude, a benchmark for international oils used by many U.S. refineries, fell $2 to $60.53 a barrel.

Investors hammered Fossil Group's shares after the retailer reported disappointing fourth-quarter earnings report and outlook. The stock fell the most among companies in the S&P 500, shedding $15.63, or 15.7 percent, to $83.69.

Stocks continued to drift lower ahead of the release of the meetings from the Fed's January meeting.

But the declines eased after 2 p.m. Eastern time, when the minutes appeared to ease any concerns that the central bank would raise rates anytime soon.

The minutes revealed that officials were concerned about the impact on financial markets of dropping the word "patient" from their communications, when describing how long they were willing to wait before raising rates.

Officials noted that wage growth has remained weak even as the unemployment rate has declined. Inflation remains below the Fed's 2 percent target. The Fed's benchmark interest rate has been at a record low near zero since December 2008.

Government bonds rallied after the release of the Fed's minutes. The yield on the 10-year Treasury note, which moves inversely to its price, fell to 2.08 percent from 2.14 percent late Tuesday.

All told, four of the 10 sectors in the S&P 500 ended lower. Energy stocks slumped the most, declining 1.5 percent. Utilities notched the biggest gain at 2.4 percent.

The S&P 500 has bounced back after a weak start to the year, as a rebound in the price of oil has boosted energy stocks and returned the index to all-time highs. Strong reports on hiring and company earnings have also encouraged investors. The gains have come, even as a strengthening dollar has curbed overseas earnings for companies in the index.

Most companies in the S&P 500 index have now reported their results for the fourth quarter. Earnings are forecast to rise 7.6 percent after all the results are in, according to S&P Capital IQ. That compares with growth of 9.2 percent in the third quarter and a rate of 4.9 percent in the same period a year earlier.

In metals trading, gold fell $8.40, or 0.7 percent, to $1,199.70 an ounce. Silver fell 11 cents, or 0.7 percent, to $16.27 an ounce and copper rose 3 cents, or 1.3 percent, to $2.61 a pound.

The dollar gained against the euro, pushing the currency down to $1.14. The U.S. currency fell to 118.71 against the Japanese yen.

Investors also had their eye on developments in Greece, where the government is set to ask its European creditors to extend a 240 billion-euro international loan agreement ”” but without the deep spending cuts and income reductions from the country's austerity program.

Greece's bailout program expires after Feb. 28 and there are worries that a failure to extend it may force the country out of the euro, and potentially damage the global economy. Investors are optimistic, however, that Greece will reach a compromise with its creditors.

In other energy futures trading, the price of wholesale gasoline fell 2 cents to $1.574 a gallon. Heating oil slipped 2 cents to $1.959 a gallon. Natural gas rose 7 cents to $2.831 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-44.08	points or ▼	-0.24%	on	Thursday, 19 February 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,985.77	▼	-44.08	▼	-0.24%		
	Nasdaq____	4,924.70	▲	18.34	▲	0.37%		
	S&P_500___	2,097.45	▼	-2.23	▼	-0.11%		
	30_Yr_Bond____	2.73	▲	0.04	▲	1.37%		

NYSE Volume	 3,223,502,250 	 	 	 	 	  		 
Nasdaq Volume	 1,563,696,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,888.90	▼	-9.18	▼	-0.13%		
	DAX_____	11,001.94	▲	40.94	▲	0.37%		
	CAC_40__	4,833.28	▲	34.25	▲	0.71%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,869.80	▼	-8.10	▼	-0.14%		
	Shanghai_Comp	3,246.91	▲	24.54	▲	0.76%		
	Taiwan_Weight	9,529.51	▲	33.20	▲	0.35%		
	Nikkei_225___	18,264.79	▲	65.62	▲	0.36%		
	Hang_Seng.__	24,832.08	▲	47.20	▲	0.19%		
	Strait_Times.__	3,435.66	▲	19.75	▲	0.58%		
	NZX_50_Index_	5,726.23	▼	-15.13	▼	-0.26%		

http://finance.yahoo.com/news/investors-dump-utility-stocks-us-222434998.html

*As investors dump utility stocks, US markets edge lower

US stocks dip as investors dump utility stocks; losses offset by gain in consumer stocks*
Associated Press
By Steve Rothwell, AP Markets Writer 

NEW YORK (AP) -- A slide in shares of utility companies nudged the U.S. stock market lower Thursday.

Utilities were the day's biggest losers, falling 1 percent, and their losses resumed a trend that emerged in late January. Investors have dumped the dividend-rich stocks as the yield of the U.S. 10-year note creeps higher.

Energy stocks also weighed on the market Thursday.

Overall, though, U.S. stocks have rebounded from a January slump. The Standard & Poor's 500 index has reached all-time highs in February, and is on track for its best monthly performance in more than three years. Company earnings are still growing and the economy is continuing to recover.

"The U.S. markets are still in a 'goldilocks' scenario," neither too hot, or too cold, said Jeremy Zirin, chief U.S. equity strategist for UBS Wealth Management Research. "Growth is solid, but not spectacular, and most importantly, not stoking high levels of inflation."

The Standard & Poor's 500 index ended the day down 2.23 points, or 0.11 percent, at 2,097.45. The index is still within a fraction of the all-time high of 2,100.34 reached on Tuesday.

The index has gained 5.1 percent in February. If it holds those gains through the end of the month, it would be the strongest performance since October 2011.

The Dow Jones industrial average dropped 44.08 points, or 0.2 percent, to 17,985.77.

The price of oil fell, though it regained some of its losses when the Energy Department reported that the growth in supplies was less than expected. Benchmark U.S. crude fell 98 cents to close at $51.16 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 32 cents to close at $60.21 in London.

Technology stocks were among the day's gainers. The sector has outperformed the broader market since the start of the year and the tech-heavy Nasdaq composite has gained 6.2 percent this month.

On Thursday, the index rose 18.34 points, or 0.4 percent, to 4,924.70. It was the seventh straight gain for the index, its longest streak of gains since last February.

Investors are favoring technology stocks because they offer better growth prospects than the overall market, said Zirin of UBS.

Consumer-oriented tech companies such as Apple should benefit as lower gas prices leave more money in consumers' pockets, he said. Businesses are also likely to increase investments in technology.

Priceline was the biggest gainer in the S&P 500. The stock jumped $95.06, or 8.5 percent, to $1,218 as an increase in bookings helped the online travel company beat analysts' expectations.

In Europe, Greece's government asked to extend its rescue loan agreement by six months in order to give it and the eurozone more time to hash out a longer, permanent deal. However, Greece held back on offering to extend a series of budget cuts and reforms that the eurozone has required since 2010 in exchange for loans. Greece says that the measures have devastated its economy. The 19 finance ministers of the eurozone will meet Friday to discuss the proposals.

The main stock market in Athens rose 1.1 percent. Germany's DAX climbed 0.2 percent. The CAC-40 in France was 0.6 percent higher.

In U.S. government bond trading, prices fell. The yield on the 10-year government climbed to 2.10 percent from 2.08 percent on Wednesday. The yield started the month at 1.64 percent.

The U.S. dollar was little changed against the Japanese yen, trading at 118.97 yen on Thursday. The dollar edged up against the euro, pushing the currency down to $1.1383 from $1.1399.

In metals trading, gold rose $7.40, or 0.6 percent, to $1,207.10. Silver gained 11.6 cents, or 0.7 percent, to $16.38 and copper rose 0.5 cents, or 0.2 percent, to $2.62 a pound.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 4.2 cents to close at $1.616 a gallon.

”” Heating oil rose 3.5 cents to close at $1.994 a gallon.

”” Natural gas fell 0.3 cent to close at $2.834 per 1,000 cubic fee


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	154.67	points or ▲	0.86%	on	Friday, 20 February 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,140.44	▲	154.67	▲	0.86%		
	Nasdaq____	4,955.97	▲	31.27	▲	0.63%		
	S&P_500___	2,110.30	▲	12.85	▲	0.61%		
	30_Yr_Bond____	2.74	▲	0.00	▲	0.11%		

NYSE Volume	 3,268,209,750 	 	 	 	 	  		 
Nasdaq Volume	 1,700,411,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,915.20	▲	26.30	▲	0.38%		
	DAX_____	11,050.64	▲	48.70	▲	0.44%		
	CAC_40__	4,830.90	▼	-2.38	▼	-0.05%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,845.60	▼	-24.20	▼	-0.41%		
	Shanghai_Comp	3,246.91	▲	24.54	▲	0.76%		
	Taiwan_Weight	9,529.51	▲	33.20	▲	0.35%		
	Nikkei_225___	18,332.30	▲	67.51	▲	0.37%		
	Hang_Seng.__	24,832.08	▲	47.20	▲	0.19%		
	Strait_Times.__	3,435.66	▲	19.75	▲	0.58%		
	NZX_50_Index_	5,748.95	▲	22.72	▲	0.40%		

http://finance.yahoo.com/news/nasdaq-gains-eighth-straight-day-220340889.html

*Nasdaq gains for eighth straight day, nearing dot-com high

Nasdaq rises for eighth straight day, pushing index closer to dot-com-era record high*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The Nasdaq composite rose for an eighth straight day Friday, pushing the index closer to its all-time closing high.

The index climbed with the overall stock market after Greece and its creditors in the eurozone reached an agreement on the country's request to extend its bailout. The news was seen as positive by investors because it reduces the risk of Greece leaving the euro, a move that has the potential to send shockwaves throughout global financial markets.

After gaining nearly 7 percent in February, the Nasdaq is now less than 2 percent from its record close of 5,048.62, a benchmark set during the frenzy of the dot-com era in March 2000.

On Friday, the Nasdaq added 31.27 points, or 0.6 percent, to 4,955.97. Its eight-day win streak matches its longest stretch of gains since February 2014.

The technology-heavy index, which tracks the 2,500-plus stocks that are listed on the Nasdaq stock market, has advanced 4.6 percent this year, and is up 16 percent in the last year.

Almost half the companies in the index are technology stocks, and the Nasdaq is outperforming both the Dow Jones industrial average and the Standard & Poor's 500 index this year, as the technology sector is coming back in favor. The S&P 500 is up 2.5 percent since the start of 2015, and has risen 15 percent over the last year.

One stock in particular is giving the Nasdaq a lift: Apple.

The technology giant has gained 17 percent this year, pushing its market value over $750 billion. The surge means that the stock now accounts for about 10 percent of the Nasdaq's market value. That compares with its 4 percent share for the S&P 500.

=============================================================================								
http://finance.yahoo.com/news/stock-market-hits-high-greece-211836537.html

*Stock market hits new high after Greece gets loan extension

Dow, S&P 500 close at record highs after Greece gets 4-month extension of bailout*
Associated Press
By Ken Sweet, AP Business Writer 

NEW YORK (AP) -- A deal giving Greece more time to repay its debts swung the U.S. stock market higher Friday and drove the stock market to a record high.

While expected, the deal between the struggling country and its European creditors left investors relieved. Any failure to reach an accord could have sent tremors through markets at a time when Europe is trying to revive its regional economy.

"It's good this didn't go down to the wire to get resolved," said Paul Christopher, head of international strategy at Wells Fargo.

Stocks started off the day solidly lower. The Dow Jones industrial average fell as much as 107 points. But as rumors and news came out that Greece and its creditors were close to a deal, the market climbed ever-so-steadily higher. The euro also gained against the dollar.

The Dow finished up 154.67 points, or 0.9 percent, to 18,140.44. The Standard & Poor's 500 index climbed 12.85 points, or 0.6 percent, to 2,110.30 and the Nasdaq composite rose 31.27 points, or 0.6 percent, to 4,955.97. The Dow closed at a record high, surpassing its record close on Dec. 26. The S&P 500 also closed at record high.

The Nasdaq, which has yet to reclaim its record high from the dot-com era, in now within 93 points of that March 2000 peak.

In Brussels, the deal reached between the European Union and Greece's recently elected government would extend the country's repayment plan by four months. That is shorter than the six months originally requested by Greece.

In return, Greece has committed to not pursue any "unilateral" measures that might affect the country's budget targets. Greece has committed to provide a list of reforms based on its current bailout program for assessment by Monday.

The deal is a shift from only a day ago, where it seemed like Greece and its creditors were still struggling to reach a basic agreement for the Mediterranean country. Without the agreement, Greece would have only about a week left before it would default on its obligations and cause it to drop the euro currency.

Greece's economy is small, but the potential disruption Greece could have to the global financial system potentially could be huge. In a worst-case scenario, Greece abandoning the euro could embolden political parties in other debt-ridden countries to seek to leave the euro as well.

"A Greek exit is not good for anyone, including the Greeks," said Christopher of Wells Fargo. "If Greece leaves, everyone else could leave and you're left with nothing."

In energy markets, the price of oil fell Friday after a closely-watched count of drilling rigs declined less than expected. That could mean crude supplies will remain ample.

Benchmark U.S. crude fell 82 cents to close at $50.34 a barrel in New York on the last day of trading for the March contract. Brent crude, a benchmark for international oils used by many U.S. refineries, rose one cent to close at $60.22 in London.

In other futures trading, wholesale gasoline rose 2.5 cents to close at $1.641 a gallon. Heating oil rose 11.8 cents to close at $2.112 a gallon. Natural gas rose 11.7 cents to close at $2.951 per 1,000 cubic feet.

The U.S. dollar rose to 119.09 yen from 119.04 yen the previous session, while the euro rose against the dollar to $1.1379 compared with $1.1368 Thursday.

Gold fell $2.70 to $1,204.90 an ounce, silver fell 11 cents to $16.30 an ounce and high-grade copper fell 3 cents to $2.59 a pound.

6616


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-23.6	points or ▼	-0.13%	on	Monday, 23 February 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,116.84	▼	-23.60	▼	-0.13%		
	Nasdaq____	4,960.97	▲	5.00	▲	0.10%		
	S&P_500___	2,109.66	▼	-0.64	▼	-0.03%		
	30_Yr_Bond____	2.65	▼	-0.08	▼	-3.03%		

NYSE Volume	 3,049,044,500 	 	 	 	 	  		 
Nasdaq Volume	 1,723,062,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,912.16	▼	-3.04	▼	-0.04%		
	DAX_____	11,130.92	▲	80.28	▲	0.73%		
	CAC_40__	4,862.30	▲	31.40	▲	0.65%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,872.40	▲	26.80	▲	0.46%		
	Shanghai_Comp	3,246.91	▲	24.54	▲	0.76%		
	Taiwan_Weight	9,529.51	▲	33.20	▲	0.35%		
	Nikkei_225___	18,466.92	▲	134.62	▲	0.73%		
	Hang_Seng.__	24,836.76	▲	4.68	▲	0.02%		
	Strait_Times.__	3,421.30	▼	-14.36	▼	-0.42%		
	NZX_50_Index_	5,754.36	▲	5.41	▲	0.09%		

http://finance.yahoo.com/news/us-stocks-edge-mostly-lower-210916442.html

*US stocks edge mostly lower, pulling Dow back from a record

US stocks edge mostly lower, pulling Dow back from record; Energy shares sink along with oil*
Associated Press
By Alex Veiga, AP Business Writer

The slump in crude oil prices and disappointing U.S. home sales data helped nudge stocks mostly lower on Monday, pulling the market back from an all-time high reached last week.

The Dow Jones industrial average and Standard & Poor's 500 index spent much of the day hovering slightly below their most-recent highs. But the Nasdaq composite mounted a late-afternoon comeback that extended its recent win streak for the ninth day in a row.

Oil drilling companies and homebuilders notched broad declines, while traders bid up shares in utilities stocks.

Investors were looking ahead to the start of a two-day round of Congressional testimony by Federal Reserve Chair Janet Yellen. The remarks could provide insight into when the central bank will begin raising its key interest rate from near zero.

"The markets are in a holding pattern," said Erik Davidson, chief investment officer of Wells Fargo Private Bank. "We'll have some very interesting information coming up from Janet Yellen tomorrow and Wednesday, so the markets are looking at that very closely."

The Dow ended down 23.60 points, or 0.1 percent, to 18,116.84. The S&P 500 fell 0.64 points, or 0.03 percent, to 2,109.66. The Nasdaq gained 5.01 points, or 0.1 percent, to 4,960.97. The index, which has yet to reclaim its record high from the dot-com era, in now within 87 points of that March 2000 peak.

The three stock indexes are up for the year.

Stocks started off the day basically flat as investors weighed developments in Greece and falling oil prices.

Greece's new government and its creditors reached an agreement over the weekend that staved off the threat of a Greek bankruptcy and an exit from the euro. Athens was expected to send creditors a list of reforms tied to the four-month bailout pact early Tuesday.

The price of oil fell for the fourth day in a row as the return of a Libyan oil field raised expectations for more oil supply. Benchmark U.S. crude fell $1.36 to close at $49.45 a barrel in New York.

That helped drag down shares in several offshore oil drilling and oilfield services companies.

Transocean fell 75 cents, or 4.4 percent, to $16.26, while Ensco shed $1.11, or 3.7 percent, to $28.65. Nabors Industries fell the most among stocks in the S&P 500, losing 67 cents, or 5 percent, to $12.85.

Investors bought up shares in Valeant Pharmaceuticals, which announced on Sunday a deal to buy rival drugmaker Salix Pharmaceuticals for about $10 billion in cash. Valeant rose $25.49, or 15 percent, to $198.75.

A midmorning report showing that sales of previously occupied homes tumbled 4.9 percent last month sent most homebuilder shares lower. UCP declined the most, shedding 45 cents, or 4.8 percent, to $8.97.

"The home numbers were a little disappointing," said Bob Doll, chief equity strategist at Nuveen Asset Management.

All told, six of the 10 sectors in the S&P 500 fell. Telecommunications stocks declined the most. Utilities stocks led the gainers.

Tuesday will provide investors with some fresh insight on the U.S. consumer.

The Conference Board will report its latest consumer confidence index. January's reading surged to the highest level in nearly seven years.

But the biggest market-moving news could come from the Fed.

Yellen is scheduled to deliver her semiannual report to Congress on the economy and interest rates. Investors will be listening for any hints of when the central bank will move to raise its key interest rate. Higher Fed rates would affect rates on many consumer and business loans and could depress stock and bond prices.

The Fed's most recent policy statement expressed the intention to be "patient" about raising rates. Many economists have predicted the central bank will raise rates in June.

In other futures trading Monday, Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.32 to close at $58.90 in London. Wholesale gasoline rose 0.5 cents to close at $1.646 a gallon. Heating oil rose 10.6 cents to close at $2.218 a gallon, and natural gas fell 7.2 cents to close at $2.879 per 1,000 cubic feet.

Precious and industrial metals futures closed slightly lower. Gold fell $4.10 to $1,200.80 an ounce, silver fell two cents to $16.25 an ounce and copper edged down less than a penny to $2.59 a pound.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.06 percent from 2.11 percent late Friday.

Among other stocks making moves Monday:

”” Cooper Tire & Rubber fell 5 percent after the tire maker reported fourth-quarter earnings that fell short of what Wall Street analysts had expected. The stock shed $1.89 to $35.82.

”” Tower Semiconductor reported a profit during its fourth quarter after reporting a loss in the same period a year earlier. Shares in the chipmaker vaulted $2.07, or 15.1 percent, to $15.76.

”” Polypore International surged 12.7 percent on news the company is selling its energy storage business to Asahi Kasei for $2.2 billion after it sells another segment to 3M for $1 billion. The stock gained $6.75 to $59.70.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	92.35	points or ▲	0.51%	on	Tuesday, 24 February 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,209.19	▲	92.35	▲	0.51%		
	Nasdaq____	4,968.12	▲	7.15	▲	0.14%		
	S&P_500___	2,115.48	▲	5.82	▲	0.28%		
	30_Yr_Bond____	2.60	▼	-0.05	▼	-2.04%		

NYSE Volume	 3,199,113,000 	 	 	 	 	  		 
Nasdaq Volume	 1,781,321,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,949.63	▲	37.47	▲	0.54%		
	DAX_____	11,205.74	▲	74.82	▲	0.67%		
	CAC_40__	4,886.44	▲	24.14	▲	0.50%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,890.00	▲	17.60	▲	0.30%		
	Shanghai_Comp	3,246.91	▲	24.54	▲	0.76%		
	Taiwan_Weight	9,629.37	▲	99.86	▲	1.05%		
	Nikkei_225___	18,603.48	▲	136.56	▲	0.74%		
	Hang_Seng.__	24,750.07	▼	-86.69	▼	-0.35%		
	Strait_Times.__	3,437.61	▲	16.31	▲	0.48%		
	NZX_50_Index_	5,722.96	▼	-31.39	▼	-0.55%		

http://finance.yahoo.com/news/us-st...yellen-begins-remarks-151853045--finance.html

*Slight gains push US stocks to record highs; Home Depot up*
Associated Press
By ALEX VEIGA

The Dow Jones industrial average and Standard & Poor's 500 index delivered new highs Tuesday, beating marks they set last week.

The Nasdaq composite also built on its gains for the year, finishing higher for the 10th day in a row.

The latest milestones came as investors liked what they heard from Federal Reserve Chair Janet Yellen, who told Congress the central bank would be patient about raising interest rates as the economy improves.

"Markets had been very focused on the Yellen testimony and wanted to see if there was going to be any change in the outlook for the first Fed rate hike," said David Lefkowitz, senior equity strategist for UBS Wealth Management Research. "The short answer to that is, not really. The Fed is, at a minimum, not going to do anything imminently."

Progress in Greece's efforts to secure an extension of its rescue program and strong earnings from Home Depot also encouraged traders. The home-improvement retailer was the best performer in the 30-company Dow, rising 4.4 percent.

The Dow ended up 92.35 points, or 0.5 percent, to 18,209.19. That's up 0.4 percent from its most-recent high of 18,140.44 last Friday.

The S&P 500 gained 5.82 points, or 0.3 percent, to 2,115.48. The index also reached its previous high of 2,110.30 on Friday.

The Nasdaq gained 7.15 points, or 0.1 percent, to 4,968.12. The index, which has yet to eclipse its record high from the dot-com era, is now within 81 points of that March 2000 peak.

The three main U.S. stock indexes are all up for the year. The S&P 500 has closed at a new high four times this month. The Dow has done it twice.

The current bull market, now in its sixth year, has been powered by strong corporate earnings growth and low interest rates, which make stocks more attractive relative to bonds.

Yellen's remarks to Congress on Tuesday suggest that the interest rate part of that dynamic isn't likely to change right away.

In the first part of her two-day testimony, Yellen noted that the U.S. economy is making steady progress, but that for now the Fed will remain patient about raising interest rates because the job market is still healing and inflation is too low. The Fed has kept its benchmark rate near zero since 2008. Yellen's testimony supports the view that a rate increase is not likely before June or even later this year.

"It's a little bit uncertain on when exactly they'll raise rates, but it's not going to happen sooner than expected," Lefkowitz said.

The major stock indexes spent much of the morning drifting between small gains and losses as traders awaited Yellen's remarks and kept tabs on developments in Greece.

Athens and its bailout creditors reached a tentative agreement last week to continue a rescue loan program by four months to avoid the risk of a Greek default and exit from the euro currency. On Tuesday, the country's European creditors approved a 4-month extension to the nation's financial bailout.

"It was not unexpected, but welcome news," said Brad Sorensen, director of market and sector analysis at the Schwab Center for Financial Research. "We don't have to worry about that for at least a few weeks, anyway."

The news helped lift stocks indexes in Europe, including Britain's FTSE 100, which edged up 0.5 percent to 6,949, a record high. France's CAC-40 rose 0.5 percent to 4,886 while Germany's DAX gained 0.7 percent to 11,205. The Athens Stock Exchange General Index jumped 9.8 percent.

Investors also got a batch of new U.S. economic data Tuesday.

A key gauge of U.S. home prices showed that prices rose 4.5 percent in December versus a year earlier. The small gain comes after price increases slowed for 12 straight months. Meanwhile, the Conference Board reported that its consumer confidence index dropped this month to 96.4 from a revised 103.8 in January. The February and January readings are the highest since before the recession started in December 2007.

All told, nine of the 10 sectors in the S&P 500 index rose, led by utilities stocks. Health care stocks declined.

Home Depot rose after the company reported fourth-quarter financial results and a full-year outlook that exceeded Wall Street's expectations. The company also said it has authorized an $18 billion buyback of its shares and boosted its quarterly dividend by 26 percent. The stock rose $4.47, or 4.4 percent, to $116.75.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 1.98 percent from 2.06 percent late Monday.

The price of oil fell for the fifth day in a row on expectations of rising inventories in the U.S. Benchmark U.S. crude fell 17 cents to close at $49.28 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 24 cents to close at $58.66 in London.

In other futures trading on the NYMEX, wholesale gasoline fell 2.6 cents to close at $1.620 a gallon, while heating oil fell 18.9 cents to close at $2.029 a gallon. Natural gas rose 2.3 cents to close at $2.902 per 1,000 cubic feet.

In metals trading, gold edged down $3.50 to $1,197.30 an ounce, silver lost seven cents to $16.19 an ounce and copper rose six cents to $2.65 a pound.

Among other stocks making big moves Tuesday:

”” First Solar jumped 10 percent a day after the solar power company said it plans to combine some of its assets with SunPower into an investment vehicle that is intended to provide steady dividends. First Solar led the gainers in the S&P 500, adding $5.06 to $54.70.

”” Macy's reported better-than-expected earnings for the fourth quarter, but the retailer issued a forecast that fell short of Wall Street's expectations. The stock dipped $2.06, or 3.2 percent, to $62.10.

”” Rosetta Resources slumped 15 percent after the oil and gas company reported worse-than-expected fourth-quarter earnings and said it is deferring production growth. Its shares slid $3.29 to $18.58.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	15.38	points or ▲	0.08%	on	Wednesday, 25 February 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,224.57	▲	15.38	▲	0.08%		
	Nasdaq____	4,967.14	▼	-0.98	▼	-0.02%		
	S&P_500___	2,113.86	▼	-1.62	▼	-0.08%		
	30_Yr_Bond____	2.57	▼	-0.03	▼	-1.04%		

NYSE Volume	 3,285,582,250 	 	 	 	 	  		 
Nasdaq Volume	 1,782,566,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,935.38	▼	-14.25	▼	-0.21%		
	DAX_____	11,210.27	▲	4.53	▲	0.04%		
	CAC_40__	4,882.22	▼	-4.22	▼	-0.09%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,908.60	▲	18.60	▲	0.32%		
	Shanghai_Comp	3,228.84	▼	-18.06	▼	-0.56%		
	Taiwan_Weight	9,699.54	▲	70.17	▲	0.73%		
	Nikkei_225___	18,585.20	▼	-18.28	▼	-0.10%		
	Hang_Seng.__	24,778.28	▲	28.21	▲	0.11%		
	Strait_Times.__	3,440.83	▲	3.22	▲	0.09%		
	NZX_50_Index_	5,842.29	▲	119.33	▲	2.09%		

http://finance.yahoo.com/news/dow-ekes-another-record-close-211305982.html

*Dow ekes out another record close even as other indexes slip

Dow Jones industrial average ekes out another record high close even as other indexes slip*
Associated Press
By Alex Veiga, AP Business Writer 

The Dow Jones industrial average notched its third record high close in a row Wednesday, even as other market indexes ended lower.

Trading was relatively subdued as investors reviewed the latest corporate earnings news. Utilities stocks were among the biggest decliners. Energy stocks rebounded as oil prices broke a five-day slide and climbed back above $50 a barrel.

Wall Street also kept an eye on Federal Reserve Chief Janet Yellen's second appearance before Congress in two days. Her remarks didn't generate any major market-moving news. A day earlier, Yellen suggested that the Fed is not in a hurry to raise interest rates.

"The market is just trying to figure out whether the next move is up or down," said David Lebovitz, global market strategist at J.P. Morgan Asset Management.

The Dow ended up 15.38 points, or 0.1 percent, to 18,224.57. McDonald's was the biggest gainer in the 30-company index, climbing 3.9 percent.

The Standard & Poor's 500 index slipped 1.62 points, or 0.1 percent, to 2,113.86. The Nasdaq shed 1 point, or 0.02 percent, to 4,967.14. The three indexes are all up for the year.

The Dow and S&P 500 closed at record highs on Tuesday after investors were encouraged Yellen's remarks on interest rates. Lower rates make borrowing easier and tend to be a plus for financial markets.

The Fed has kept its benchmark rate near zero since 2008. Most economists anticipate that a rate increase is not likely before June or even later this year.

A key factor in that decision will be inflation. That's one reason investors will be focused on the release of the latest consumer price index on Thursday.

"That should provide a little bit of insight on what the Fed's next move might be and when it may occur," Lebovitz said.

The three indexes opened lower on Wednesday, then veered between small gains and losses through much of the day. In the last hour of trading, the Dow eked out a gain.

Hewlett-Packard and Boston Beer slumped early. Both reported disappointing quarterly results late Tuesday. Hewlett-Packard tumbled 9.9 percent, while the brewer of Samuel Adams beer sank 10.3 percent. Chesapeake Energy and Lumber Liquidators also declined after reporting weak earnings early Wednesday. Chesapeake fell 9.6 percent, while the hardwood floors retailer slid 26.4 percent.

Investors bid up shares in several companies whose latest quarterly earnings fared better.

TJX, the parent company of T.J. Maxx and Marshalls, rose 3.3 percent after its profit beat analysts' expectations. The company also said would raise wages for its workers.

Benefitfocus vaulted 47.2 percent, while specialty contracting services company Dycom Industries surged 17 percent. Discount retailer Dollar Tree rose 2.2 percent.

In all, half of the 10 sectors in the S&P 500 moved lower. Utilities stocks fell 1.6 percent and are now down 4 percent this year. Consumer discretionary stocks notched the biggest gain. The sector is up 5.6 percent this year.

The price of oil rose after the Energy Department reported that diesel and gasoline inventories fell more than expected, indicating a pickup in demand. Benchmark U.S. crude rose $1.71 to close at $50.99 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $2.97 to close at $61.63 in London.

In other futures trading on the NYMEX: Wholesale gasoline rose 9.9 cents to close at $1.719 a gallon, while heating oil rose 7.5 cents to close at $2.104 a gallon. Natural gas fell 0.8 cents to close at $2.894 per 1,000 cubic feet.

Gold rose $4.20 to $1,201.50 an ounce, silver rose 24 cents to $16.43 an ounce and copper rose two cents to $2.66 a pound.

U.S. government bond prices rose. The yield on the 10-year Treasury note slipped to 1.97 percent from 1.98 percent late Tuesday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-10.15	points or ▼	-0.06%	on	Thursday, 26 February 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,214.42	▼	-10.15	▼	-0.06%		
	Nasdaq____	4,987.89	▲	20.75	▲	0.42%		
	S&P_500___	2,110.74	▼	-3.12	▼	-0.15%		
	30_Yr_Bond____	2.61	▲	0.04	▲	1.48%		

NYSE Volume	 3,408,750,250 	 	 	 	 	  		 
Nasdaq Volume	 1,847,604,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,949.73	▲	14.35	▲	0.21%		
	DAX_____	11,327.19	▲	116.92	▲	1.04%		
	CAC_40__	4,910.62	▲	28.40	▲	0.58%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,877.90	▼	-30.70	▼	-0.52%		
	Shanghai_Comp	3,298.36	▲	69.52	▲	2.15%		
	Taiwan_Weight	9,622.10	▼	-77.44	▼	-0.80%		
	Nikkei_225___	18,785.79	▲	200.59	▲	1.08%		
	Hang_Seng.__	24,902.06	▲	123.78	▲	0.50%		
	Strait_Times.__	3,426.18	▼	-14.65	▼	-0.43%		
	NZX_50_Index_	5,861.68	▲	19.39	▲	0.33%		

http://finance.yahoo.com/news/us-stock-indexes-drift-mostly-201652167.html

*US stock indexes drift mostly lower as oil prices sink

US stock indexes drift mostly lower, led by declines in energy companies as oil prices slide*
Associated Press
By Alex Veiga, AP Business Writer

U.S. stocks drifted to a slightly lower finish on Thursday, weighed down by falling energy stocks as the slump in oil prices deepened.

Chevron and Exxon Mobil were among the biggest decliners in the Dow Jones industrial average, which eased back from its latest all-time high. The Standard & Poor's 500 index also slipped below its record high set earlier this week. The Nasdaq composite bucked the trend, creeping within 61 points of its dot-com era record close.

Expectations of rising oil supplies sent the price of crude to its lowest level in nearly a month. Benchmark U.S. crude oil fell $2.82 to close at $48.17 a barrel on the New York Mercantile Exchange. Investors also had to sort through a mix of corporate earnings and U.S. economic reports.

"When you have a big move in the market you expect to see it pull back a little bit, catch its breath and wait for that next catalyst to move higher," said Quincy Krosby, market strategist for Prudential Financial.

The Dow ended down 10.15 points, or 0.1 percent, to 18,214.42. Among individual Dow members, Chevron lost $1.52, or 1.4 percent, to $107.06 while Exxon Mobil slid 95 cents, or 1.1 percent, to $88.65.

The S&P 500 index slipped 3.12 points, or 0.2 percent, to 2,110.74. The Nasdaq gained 20.75 points, or 0.4 percent, to 4,987.89.

The three indexes are all up for the year.

The Dow and S&P 500 opened lower on Thursday and held that course most of the day, while the Nasdaq gradually moved higher. The market's trajectory took shape early on, as traders pored over corporate earnings and economic news.

The Commerce Department reported that orders for long-lasting manufactured goods rose 2.8 percent in January, the biggest increase since July. The Labor Department said that applications for unemployment benefits rose last week to a seasonally adjusted 313,000, the most in six weeks. That total is still consistent with steady hiring.

A report tracking the change in prices paid by consumers held particular interest for the market. The consumer price index, a measure of inflation, is closely watched by the Federal Reserve as it looks to begin raising its benchmark interest rate from near zero, where it's been since 2008.

Excluding volatile food and energy costs, the Labor Department's consumer price index rose 0.2 percent in January. Over the past year, those "core" prices have increased just 1.6 percent. That's below the 2 percent benchmark the Federal Reserve considers optimal for a healthy economy.

"It's definitely a mixed report," said Randy Frederick, a managing director of trading and derivatives with the Schwab Center for Financial Research. "The market is in this zone where it doesn't know whether to cheer bad news because that means rates will stay low or good news because it means the economy is getting better.

Earlier this week, Federal Reserve Chair Janet Yellen told Congress that the Fed is not in a hurry to raise interest rates. Lower rates make borrowing easier and tend to be a plus for financial markets.

While most economists anticipate that a rate increase is not likely before June or even later this year, rising inflation could prompt the Fed to take action sooner.

Six of the 10 sectors in the S&P 500 ended lower, with energy stocks declining 1.8 percent, the biggest drop in the index. The sector is now down 1.2 percent this year. Technology stocks led the gainers. They are up 3.9 percent this year.

Several oil drilling companies fell sharply. Ensco slid $2.17, or 8.2 percent, to $24.31, while Noble shed $2.49, or 5 percent, to $47.32. Newfield Exploration ended down $2.40, or 6.7 percent, at $33.60.

Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.58 to close at $60.05 in London.

In other futures trading on the NYMEX, wholesale gasoline fell 1.1 cents to close at $1.708 a gallon. Heating oil rose 3.2 cents to close at $2.136 a gallon. And natural gas fell 16.5 cents to close at $2.697 per 1,000 cubic feet.

Precious and industrial metals futures ended higher. Gold rose $8.60 to $1,210.10 an ounce, silver rose 15 cents to $16.58 an ounce and copper rose five cents to $2.71 a pound.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.03 percent from 1.97 percent late Wednesday.

Among stocks making big moves Thursday:

”” Sears fell 5 percent after the company reported its fourth straight year of falling profit and revenue. Sears lost $1.85 to $36.05.

”” Taser International slumped 16.1 percent after its latest quarterly results fell short of Wall Street's expectations. The stock declined $4.37 to $22.69.

”” Salesforce.com gained 11.7 percent after the cloud software company reported a boost in quarterly revenue. The company jumped $7.37 to $70.24.

”” Cyberonics surged 10.3 percent on news the medical technology company's fiscal third-quarter earnings exceeded financial analysts' forecasts. The stock gained $6.23 to $66.60.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-81.72	points or ▼	-0.45%	on	Friday, 27 February 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,132.70	▼	-81.72	▼	-0.45%		
	Nasdaq____	4,963.53	▼	-24.36	▼	-0.49%		
	S&P_500___	2,104.50	▼	-6.24	▼	-0.30%		
	30_Yr_Bond____	2.60	▼	-0.01	▼	-0.34%		

NYSE Volume	 3,552,392,000 	 	 	 	 	  		 
Nasdaq Volume	 1,915,760,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,946.66	▼	-3.07	▼	-0.04%		
	DAX_____	11,401.66	▲	74.47	▲	0.66%		
	CAC_40__	4,951.48	▲	40.86	▲	0.83%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,898.50	▲	20.60	▲	0.35%		
	Shanghai_Comp	3,310.30	▲	11.94	▲	0.36%		
	Taiwan_Weight	9,622.10	▼	-77.44	▼	-0.80%		
	Nikkei_225___	18,797.94	▲	12.15	▲	0.06%		
	Hang_Seng.__	24,823.29	▼	-78.77	▼	-0.32%		
	Strait_Times.__	3,402.86	▼	-23.32	▼	-0.68%		
	NZX_50_Index_	5,878.47	▲	16.79	▲	0.29%		

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

* 
Stocks slip after weaker growth, end best month since 2011

Stock indexes slip after a weaker estimate of US economic growth, end best month since 2011
*
Associated Press
By Alex Veiga, AP Business Writer

February proved to be a strong month for U.S. stocks, even though it ended in downbeat fashion.

Major stock indexes closed lower on Friday, capping a week of subdued trading that still delivered a couple of new highs for the Dow Jones industrial average and Standard & Poor's 500 index. It also brought the Nasdaq composite within striking distance of its March 2000 high.

The Nasdaq notched the biggest monthly gain at 7.1 percent. But the S&P 500's 5.5 percent performance marked its best monthly increase since October 2011, and a turnaround from its 3.1 percent slide in January. The Dow rose 5.6 percent for the month.

Trading was listless for much of Friday as investors balanced encouraging reports on housing and consumer confidence against data showing that the U.S. economy grew at a slower annual rate in the final months of 2014 than previously estimated. Oil rose, recouping some of its losses from a day earlier. Technology stocks were among the biggest decliners.

"Many people are trying to figure out what to do, taking some profits when they can. We saw that over the past couple of days with tech stocks," said JJ Kinahan, TD Ameritrade's chief strategist. "It's a wait-and-see attitude."

The Dow ended down 81.72 points, or 0.5 percent, to 18,132.70. That's 0.5 percent below its most-recent high of 18,224.57 on Wednesday.

The S&P 500 slid 6.24 points, or 0.3 percent, to 2,104.50. The index is down 0.5 from a high of 2,115.48 on Tuesday.

The Nasdaq fell 24.36 points, or 0.5 percent, to 4,963.53. The index has been inching closer to crossing the 5,000-point mark, something it hasn't done since March 2000 at the height of the dot-com era. It's now within 86 points of that peak.

The three main U.S. stock indexes are all up for the year.

The current bull market, now in its sixth year, has been powered by strong corporate earnings growth and low interest rates, which make stocks more attractive relative to bonds. Strong job growth and improving consumer confidence have also encouraged traders, despite signs of sluggishness in Europe and elsewhere.

Some of that confidence appeared shaken on Friday, when the Commerce Department reported that the U.S. economy grew at an annual rate of 2.2 percent in the October-December quarter, weaker than the 2.6 percent estimate last month. The latest growth projection represents a major slowdown from the previous quarter, which produced the strongest growth in 11 years.

Other economic bellwethers were more upbeat: An index of pending home sales, an indicator of potentially completed sales, rose in January and the December figure was revised higher to show a smaller decline. Separately, the University of Michigan's index of consumer sentiment slipped this month. It remains at the highest level in eight years.

"The market does not have a clear catalyst to either cause it to sell off or to surge forward, and we're getting a little expensive from a valuation perspective," said David Heidel, regional investment director at U.S. Bank Wealth Management.

Investors should get a better sense of the economy and consumers' willingness to spend next week, when automakers report their February sales figures and the government issues its monthly update on hiring.

All told, eight of the 10 sectors in the S&P 500 ended lower, with technology stocks notching the biggest decline. The sector is up 4.2 percent this year. Consumer staples rose the most. Those stocks are up 2.9 percent this year.

Several energy companies were among the biggest decliners in the S&P 500.

Southwestern Energy fell $1.27, or 4.8 percent, to $25.08, while NRG Energy lost 79 cents, or 3.2 percent, to $23.98. Chesapeake Energy slid 52 cents, or 3 percent, to $16.68.

Benchmark U.S. crude rose $1.59 to $49.76 a barrel on the New York Mercantile Exchange. Brent crude rose $2.53 to $62.58 a barrel in London.

U.S. oil prices appeared to stabilize in February around the $50 a barrel mark. That's made a key variable of business more predictable for investors, Kinahan said.

"That's really the kind of thing that gives stability to the stock market," Kinahan said.

U.S. government bond prices rose. The yield on the 10-year Treasury note slipped to 1.99 percent from 2.03 percent late Thursday.

In metals trading, gold edged up $3 to $1,213.10 an ounce, silver fell seven cents to $16.51 an ounce and copper was flat at $2.72 a pound.

In other energy futures trading, wholesale gasoline rose 6 cents to $1.768 a gallon, heating oil jumped 16.3 cents to $2.30 a gallon and natural gas rose 3.7 cents to $2.734 per 1,000 cubic feet.

7256


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	155.93	points or ▲	0.86%	on	Monday, 2 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,288.63	▲	155.93	▲	0.86%		
	Nasdaq____	5,008.10	▲	44.57	▲	0.90%		
	S&P_500___	2,117.39	▲	12.89	▲	0.61%		
	30_Yr_Bond____	2.68	▲	0.09	▲	3.27%		

NYSE Volume	 3,393,845,250 	 	 	 	 	  		 
Nasdaq Volume	 1,879,048,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,940.64	▼	-6.02	▼	-0.09%		
	DAX_____	11,410.36	▲	8.70	▲	0.08%		
	CAC_40__	4,917.32	▼	-34.16	▼	-0.69%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,926.30	▲	27.80	▲	0.47%		
	Shanghai_Comp	3,336.28	▲	25.98	▲	0.78%		
	Taiwan_Weight	9,601.36	▼	-20.74	▼	-0.22%		
	Nikkei_225___	18,826.88	▲	28.94	▲	0.15%		
	Hang_Seng.__	24,887.44	▲	64.15	▲	0.26%		
	Strait_Times.__	3,403.89	▲	1.03	▲	0.03%		
	NZX_50_Index_	5,892.67	▲	14.20	▲	0.24%		

http://finance.yahoo.com/news/nasdaq-5-000-index-passes-214507036.html
*
Nasdaq 5,000: index passes milestone number

Nasdaq passes 5,000 for first time since dot-com era as stocks move higher on deal news*
Associated Press
By Matthew Craft, AP Business Writer 

NEW YORK (AP) -- The Nasdaq composite closed above 5,000 for the first time since its dot-com era peak nearly 15 years ago after merger news and an encouraging economic report helped push U.S. stocks broadly higher on Monday.

The major indexes rose from the start, with the Nasdaq passing the 5,000- milestone shortly before noon. The tech heavy index then dropped, before rising toward the close to end at 5,008.10, just 40 points from its March 2000 record.

Investors cheered a report from the government showing household incomes rose in January, though they spent less than a month earlier. Consumer discretionary stocks rose 1.2 percent on the news, the most of the 10 industry sectors of the Standard and Poor's 500 index.

"Today, it's about the consumer," said David Joy, chief market strategist at Ameriprise Financial. "Consumers appear to be feeling a little bit better."

The S&P 500 closed up 12.89 points, or 0.6 percent, to 2,117.39. The Dow Jones industrial average rose 155.93 points, or 0.9 percent, to 18,288.63. The Nasdaq rose 44.57 points, or 0.9 percent.

The broad gains on the first trading day of March came after the best monthly advance for stocks in more than three years. The S&P 500 climbed 5.5 percent in February, its biggest gain since October 2011.

In deal news, NXP Semiconductors said Sunday that it's planning to acquire Freescale Semiconductor in an $11.8 billion deal. The merger would create the largest supplier of microchips for cars.

NXP's stock jumped $14.67, or 17 percent, to $99.56. Freescale rose $4.25, or 12 percent, to $40.36.

Boards of both companies have already approved the deal. Regulators still need to sign off on it.

In other deal news, Cardinal Health rose $1.53, or 1.7 percent, to $89.52 after offering to buy a unit of Johnson & Johnson that makes heart devices for approximately $1.94 billion.

In the U.S. government report, the dip in consumer spending in January was the second monthly drop in a row. But adjusted for inflation, spending rose. And analysts are expecting the strong income gains will lead to more spending the rest of the year.

Household income after taxes shot up 0.9 percent in January, the biggest gain in two years.

Investors also were watching developments overseas. The People's Bank of China cut interest rates for the second time in three months on Saturday, trimming the rate for one-year commercial loans to 5.35 percent.

It was the latest measure aimed at propping up growth in the world's second-largest economy. The government has recently cut business taxes and boosted pay for government workers.

Asian stock markets closed higher, but European indexes were mixed.

Other stocks making big moves included Sotheby, which sank after the auction house posted a big drop in quarterly earnings. Higher expenses weighed on the company's profits, which came in below analysts' estimates. Sotheby sank 61 cents, or 1.4 percent, to $43.34.

In the bond market, prices for U.S. government bonds fell, pushing yields up. The yield on the 10-year Treasury note rose to 2.08 percent from 2 percent late Friday.

The price of oil fell on reports of rising OPEC output, including from a large field in Libya that recently re-started production. Benchmark U.S. crude fell 17 cents to close at $49.59 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $3.04 to close at $59.54 in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 8.1 cents to close at $1.897 a gallon.

”” Heating oil fell 8.7 cents to close at $1.887 a gallon.

”” Natural gas fell 3.6 cents to close at $2.698 per 1,000 cubic feet.

Precious and industrial metals ended mixed. Gold dropped $4.90 to settle at $1,208.20 an ounce, while silver slipped 11 cents to $16.45 an ounce. Copper picked up a penny to $2.70 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-85.26	points or ▼	-0.47%	on	Tuesday, 3 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,203.37	▼	-85.26	▼	-0.47%		
	Nasdaq____	4,979.90	▼	-28.19	▼	-0.56%		
	S&P_500___	2,107.78	▼	-9.61	▼	-0.45%		
	30_Yr_Bond____	2.71	▲	0.03	▲	1.04%		

NYSE Volume	 3,251,710,750 	 	 	 	 	  		 
Nasdaq Volume	 1,965,946,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,889.13	▼	-51.51	▼	-0.74%		
	DAX_____	11,280.36	▼	-130.00	▼	-1.14%		
	CAC_40__	4,869.25	▼	-48.07	▼	-0.98%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,902.90	▼	-23.40	▼	-0.39%		
	Shanghai_Comp	3,263.05	▼	-73.23	▼	-2.20%		
	Taiwan_Weight	9,605.77	▲	4.41	▲	0.05%		
	Nikkei_225___	18,815.16	▼	-11.72	▼	-0.06%		
	Hang_Seng.__	24,702.78	▼	-184.66	▼	-0.74%		
	Strait_Times.__	3,422.11	▲	18.22	▲	0.54%		
	NZX_50_Index_	5,893.66	▲	0.99	▲	0.02%		

http://finance.yahoo.com/news/us-stocks-fall-broadly-day-214428801.html

*US stocks fall broadly a day after Nasdaq passes 5,000 mark

US stocks fall a day after Nasdaq passes 5,000 for first time in 15 years; energy stocks rise*
Associated Press
By Bernard Condon, AP Business Writer 

NEW YORK (AP) -- U.S. stocks fell from record highs on Tuesday and the Nasdaq dropped below 5,000 a day after passing that milestone for the first time since the dot-com era 15 years ago.

The losses were modest but broad, with eight industry sectors in the Standard and Poor's 500 index falling. Higher oil prices helped oil drillers and other energy companies buck the trend. They eked out a 0.2 percent rise for the day.

With no major economic news and few earnings reports, investors were at pains to point to a catalyst for the stock slump other than jitters that sometime follow big gains.

"It's only natural we would get a little flutter after a milestone like yesterday," said Wells Fargo Funds' Chief Equity Strategist John Manley, referring to the Nasdaq closing above 5,000. "It may very well go on for a few days."

The Dow Jones industrial average fell 85.26 points, or 0.5 percent, to 18,203.37. The Standard & Poor's 500 declined 9.61 points, or 0.5 percent, to 2,107.78. The Nasdaq gave up 28.20 points, or 0.6 percent, to close at 4,979.90.

Ford Motor slumped after reporting U.S. sales from last month that disappointed investors. Ford sales fell 1.9 percent as dealers lacked the inventory to meet demand for the new F-150 pickup truck. Ford dropped 40 cents, or 2.4 percent, to $16.17.

Oil rose on reports that Saudi Arabia raised prices for Asian customers and fears of heightening tensions with Iran after Israeli Prime Minister Benjamin Netanyahu addressed Congress. Several oil drillers surged. Denbury Resources, an oil and gas producer, jumped 28 cents, or 3.4 percent, to $8.58.

With nearly all companies in the S&P 500 having reported their fourth-quarter results, earnings per share for companies in the S&P 500 index are expected to have risen a healthy 7.7 percent, according to S&P Capital IQ.

Liquor giant Brown-Forman reports earnings on Wednesday, followed by Costco Wholesale on Thursday. Staples, the nation's biggest office supply chain, reports on Friday.

Financial analysts expect earnings to drop compared with the year-earlier periods for the next two quarters, but that is mostly because of a drag from energy companies as oil prices have fallen more than 50 percent since last June.

Anastasia Amoroso, global market strategist for J.P. Morgan Asset Management, said she wasn't surprised by the pullback.

"We're seeing a market that is fairly valued, earnings are behind us and no major catalysts are coming up," she said. "It's a market ready for a pause."

The slump in the U.S. followed losses in European markets. France's CAC 40 and Germany's DAX each lost 1 percent. Britain's FTSE 100 dropped 0.7 percent.

On Monday, the Nasdaq rose to just 40 points from its 5,048.62 peak reached March 10, 2000. The index has changed significantly since then. Gone is the heavy weighting of telecommunications stocks and big bets on Internet companies with little or no earnings.

Among other stocks in the news:

”” Personal finance company Springleaf Holdings rose $12.19, or 32 percent, to $50.23 after it said it would buy Citigroup's OneMain Financial for $4.25 billion. OneMain provides personal loans at more than 1,100 branches across 43 states.

””Best Buy gained 55 cents, or 1.4 percent, to $39.18 after the company said it would raise its dividend 21 percent and give shareholders an additional one-time payment. The nation's biggest electronics chain also reported fourth-quarter earnings that were higher than financial analysts had expected.

Benchmark U.S. crude rose 93 cents to close at $50.52 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $1.48 to close at $61.02 a barrel in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 5.3 cents to close at $1.950 a gallon.

”” Heating oil rose 5.3 cents to close at $1.940 a gallon.

”” Natural gas rose 1.4 cents to close at $2.712 per 1,000 cubic feet.

In bond trading, the yield on the 10-year Treasury note rose to 2.12 percent from 2.08 percent on Monday.

In metals trading, gold fell $3.80 to $1,204.40 an ounce, silver fell two cents to $16.30 an ounce and copper lost four cents to close at $2.66 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-106.47	points or ▼	-0.58%	on	Wednesday, 4 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,096.90	▼	-106.47	▼	-0.58%		
	Nasdaq____	4,967.14	▼	-12.76	▼	-0.26%		
	S&P_500___	2,098.53	▼	-9.25	▼	-0.44%		
	30_Yr_Bond____	2.72	▲	0.01	▲	0.22%		

NYSE Volume	 3,421,329,500 	 	 	 	 	  		 
Nasdaq Volume	 1,780,947,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,919.24	▲	30.11	▲	0.44%		
	DAX_____	11,390.38	▲	110.02	▲	0.98%		
	CAC_40__	4,917.35	▲	48.10	▲	0.99%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,871.50	▼	-31.40	▼	-0.53%		
	Shanghai_Comp	3,279.53	▲	16.48	▲	0.51%		
	Taiwan_Weight	9,621.73	▲	15.96	▲	0.17%		
	Nikkei_225___	18,703.60	▼	-111.56	▼	-0.59%		
	Hang_Seng.__	24,465.38	▼	-237.40	▼	-0.96%		
	Strait_Times.__	3,415.53	▼	-6.58	▼	-0.19%		
	NZX_50_Index_	5,874.08	▼	-19.58	▼	-0.33%		

http://finance.yahoo.com/news/us-stocks-fall-pulling-market-210928725.html

*US stocks fall, pulling market further below record highs

Stock indexes ended lower for a second day in US, pulling market further below record highs*
Associated Press
By Mathew Craft, AP Business Writer

NEW YORK (AP) -- U.S. stocks sank Wednesday, pulling indexes further below record highs hit earlier in the week. The drop was modest but broad: nine of the 10 sectors in the Standard & Poor's 500 index lost ground.

Given the market's recent run, it's only natural for investors to turn cautious, said Terry Sandven, senior equity strategist at U.S. Bank Wealth Management. On Monday, the S&P 500 reached an all-time high while the Nasdaq crossed the 5,000 mark for the first time in nearly 15 years.

"We're in wait-and-see mode," Sandven said. "Prices are definitely stretched, especially when earnings expectations are being set lower."

The S&P 500 gave up 9.25 points, or 0.4 percent, to 2,098.53.

The Dow Jones industrial average lost 106.47 points, or 0.6 percent, to 18,096.90. The Nasdaq composite fell 12.76 points, or 0.3 percent, to 4,967.14.

Alcoa's stock sank 4 percent following news that analysts at Bank of America cut their ratings on the aluminum giant. BofA's analysts expect prices for aluminum to lose strength as China increases its exports. Alcoa lost 59 cents to $14.59.

Abercrombie & Fitch posted quarterly profits that beat analysts' estimates but its sales fell short. A top executive at the retailer warned that it will likely face trouble from a stronger dollar. Abercrombie's stock plunged $3.72, or 16 percent, to $20.27.

With all but 12 big companies in the S&P 500 having turned in their fourth-quarter results, overall earnings are on track to increase 7.7 percent, according to S&P Capital IQ. That's much better than some had feared.

Forecasts for the first three months, however, have been slashed. In early December, analysts projected an 8.6 percent increase in corporate earnings for the first quarter. Today, they expect them to shrink 2.6 percent.

ADP, a payroll processing company, reported Wednesday that its survey showed U.S. businesses added more than 200,000 people to their payrolls in February, the latest sign of strong hiring. The survey came two days before the government's release of its monthly employment report on Friday. Economists forecast that the economy added 240,000 jobs last month and the unemployment rate slipped to 5.6 percent from 5.7 percent.

U.S. economic growth appears steady despite reports out earlier this week showing declines in construction spending and car sales, according to Jim O'Sullivan, chief U.S. economist at High-Frequency Economics. "We expect another fairly strong rise in payrolls and a drop in the unemployment rate in the February employment report on Friday," O'Sullivan said in a report to clients.

In Europe, both France's CAC-40 index and Germany's DAX gained 1 percent. Britain's FTSE 100 picked up 0.4 percent.

Two reports showed hints of life in Europe's economy. Retail sales increased by 1.1 percent in January, the first time since records began in 2000 that they've grown for four consecutive months. Meanwhile, a key gauge of business activity showed growth in February across all four of the region's biggest economies: Germany, France, Italy and Spain.

In the market for U.S. government bonds, the yield on the 10-year Treasury note held steady at 2.12 percent.

Most precious and industrial metals traded lower. Gold fell $3.50 to settle at $1,200.90 an ounce, and silver slipped 14 cents to $16.16 an ounce. Copper settled at $2.66 a pound, nearly unchanged.

Benchmark U.S. crude rose $1.01 to settle at $51.53 a barrel in New York. Brent crude, the international benchmark, fell 47 cents to $60.55 in London.

In other trading on the New York Mercantile Exchange:

”” Wholesale gasoline fell 2.4 cents to close at $1.926 a gallon.

”” Heating oil fell 3.9 cents to close at $1.901 a gallon.

”” Natural gas rose 5.7 cents to close at $2.769 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	38.82	points or ▲	0.21%	on	Thursday, 5 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,135.72	▲	38.82	▲	0.21%		
	Nasdaq____	4,982.81	▲	15.67	▲	0.32%		
	S&P_500___	2,101.04	▲	2.51	▲	0.12%		
	30_Yr_Bond____	2.72	▲	0.00	▼	-0.11%		

NYSE Volume	 3,104,982,750 	 	 	 	 	  		 
Nasdaq Volume	 1,685,234,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,961.14	▲	41.90	▲	0.61%		
	DAX_____	11,504.01	▲	113.63	▲	1.00%		
	CAC_40__	4,963.51	▲	46.16	▲	0.94%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,873.70	▲	2.20	▲	0.04%		
	Shanghai_Comp	3,248.48	▼	-31.06	▼	-0.95%		
	Taiwan_Weight	9,595.09	▼	-26.64	▼	-0.28%		
	Nikkei_225___	18,751.84	▲	48.24	▲	0.26%		
	Hang_Seng.__	24,193.04	▼	-272.34	▼	-1.11%		
	Strait_Times.__	3,395.27	▼	-20.26	▼	-0.59%		
	NZX_50_Index_	5,856.77	▼	-17.31	▼	-0.29%		

http://finance.yahoo.com/news/us-stocks-edge-higher-pharmacyclics-161305897.html

*US stocks edge higher; Pharmacyclics jumps on AbbVie bid

US stocks edge higher; Pharmacyclics jumps on AbbVie $21 billion bid*
Associated Press
By Steve Rothwell, AP Markets Writer 

NEW YORK (AP) -- The stock market closed slightly higher on Thursday as gains for utilities and financial stocks were largely offset by losses in energy and materials companies.

Kroger jumped after reporting better-than-expected earnings that were boosted in part by lower fuel costs. Joy Global, a manufacturer of mining equipment, fell sharply after it said that the worldwide plunge in commodity prices was hurting its business.

Investors got some positive news on the global economy early in the day as the European Central Bank upgraded its growth forecast for the eurozone this year to 1.5 percent from 1 percent. ECB President Mario Draghi also said that the bank's planned 1 trillion euro ($1.1 trillion) stimulus program will start on March 9.

Even though gains for stocks have slowed this week, major indexes remain close to record levels after a strong surge in February.

Despite steady gains in recent years, stocks remain attractive because interest rates are still close to historic lows, while company earnings are inching higher, said Scott Keifer, a global investment specialist at JPMorgan Private Bank.

"Fundamentally, things are still good," he said. "We think this is an environment of global growth that's good, but not great."

The Standard & Poor's 500 index rose 2.51 points, or 0.1 percent, to 2,101.04. The Dow Jones industrial average gained 38.82 points, or 0.2 percent, to 18,135.72. The Nasdaq composite climbed 15.67 points, or 0.3 percent, to 4,982.81.

On Thursday, health care stocks got a boost from some merger news. The sector was one of the hottest for acquisitions last year, and that trend that looks set to continue in 2015.

Pharmacyclics jumped after AbbVie said it would acquire the company for about $21 billion. It's AbbVie's first attempt at a major deal since walking away from a $55 billion takeover of Shire last fall.

Pharmacyclics rose $23.74, or 10.3 percent, to $254.22, while AbbVie's stock fell $3.41, or 5.7 percent, to $56.86.

Investors also got some news on hiring.

The number of people seeking unemployment benefits rose last week to the highest level since May, though the pace of applications remains at a level consistent with steady hiring, the Labor Department said.

The government will publish its monthly jobs report Friday. Economists expect it to show that the U.S. added 240,000 jobs in February after adding 257,000 jobs in January.

Investors will also be watching for signs of wage growth. In January, average hourly wage rose 12 cents to $24.75, a jump of 0.5 percent, the sharpest since 2008.

Further signs of strength in the labor market may prompt investors to bring forward their expectations for the timing of the Federal reserve's first rate increase in almost a decade. Currently, investors expect the Federal Reserve to raise rates by October, at the latest.

In individual stock trading, Kroger jumped $4.66, or 6.7 percent, to $74.31, after it reported better results than analysts were expecting. The company attributed the strong earnings to better fuel margins and a lower inventory charge. The retailer also released a better outlook than analysts were expecting.

Joy Global, a manufacturer of mining equipment, was one of the day's biggest losers.

The stock slumped $2.19, or 5.2 percent, to $39.94 after the company said a worldwide slump in commodity prices continues to hurt its business. The decline was the biggest in the S&P 500.

In energy trading, the price of U.S. oil fell Thursday on a stronger dollar, which makes oil, which is priced in dollars around the world, more expensive to holders of foreign currency.

Benchmark U.S. crude fell 77 cents to close at $50.76 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 7 cents to close at $60.48 in London.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.11 percent from 2.12 percent on Wednesday. The dollar gained against the euro, pushing the currency down to $1.1018. The dollar rose to 120.14 Japanese yen.

Precious and industrial metals futures ended mostly lower. Gold fell $4.70 to $1,196.20 an ounce, silver was unchanged at $16.16 an ounce and copper edged down less than a penny to $2.65 a pound.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 3.9 cents to close at $1.887 a gallon.

”” Heating oil fell 2.4 cents to close at $1.877 a gallon.

”” Natural gas rose 7.2 cents to close at $2.841 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-278.94	points or ▼	-1.54%	on	Friday, 6 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,856.78	▼	-278.94	▼	-1.54%		
	Nasdaq____	4,927.37	▼	-55.44	▼	-1.11%		
	S&P_500___	2,071.26	▼	-29.78	▼	-1.42%		
	30_Yr_Bond____	2.84	▲	0.12	▲	4.53%		

NYSE Volume	 3,859,937,750 	 	 	 	 	  		 
Nasdaq Volume	 1,857,358,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,911.80	▼	-49.34	▼	-0.71%		
	DAX_____	11,550.97	▲	46.96	▲	0.41%		
	CAC_40__	4,964.35	▲	0.84	▲	0.02%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,868.60	▼	-5.10	▼	-0.09%		
	Shanghai_Comp	3,241.19	▼	-7.29	▼	-0.22%		
	Taiwan_Weight	9,645.77	▲	50.68	▲	0.53%		
	Nikkei_225___	18,971.00	▲	219.16	▲	1.17%		
	Hang_Seng.__	24,164.00	▼	-29.04	▼	-0.12%		
	Strait_Times.__	3,417.51	▲	22.24	▲	0.66%		
	NZX_50_Index_	5,903.06	▲	46.29	▲	0.79%		

http://finance.yahoo.com/news/us-stocks-drop-strong-jobs-162146004.html

*US stocks drop; strong jobs report raises rate hike prospect

US stocks drop sharply as strong jobs report raises prospect of summer rate hike; dollar jumps*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- A strong jobs report shook up the financial markets on Friday.

U.S. employers added 295,000 jobs last month, the government said. That was more than economists were expecting and, combined with a drop in the unemployment rate, raised the likelihood of the Federal Reserve raising interest rates sooner than had previously been expected.

The dollar surged and Treasuries fell as investors factored in the possibility that the Fed could implement its first rate hike in almost a decade as soon as June. The prospects of higher interest rates sent stocks tumbling. The market logged its worst day in two months.

Fed policy makers have held interest rates close to zero for more than six years in an effort to stimulate growth and boost the economy. That stimulus has helped underpin a six-year bull market in stocks.

"We're moving to another chapter here," said Jim Russell, a portfolio manager at Bahl and Gaynor, a wealth manager. "Certainly, the number does put pressure on the Fed to move."

The Standard & Poor's 500 index fell 29.78 points, or 1.4 percent, to 2,071.26. The Dow Jones industrial average dropped 278.94 points, or 1.5 percent, to 17,856.78. The Nasdaq composite fell 55.44 points, or 1.1 percent, to 4,927.37.

Stocks opened lower and the losses accelerated throughout the day. By the close of trading the S&P 500 index had logged its biggest one-day loss since Jan. 5.

Government bonds fell as investors factored in a higher probability of a summer rate hike. The yield on the benchmark 10-year Treasury note jumped to 2.25 percent from 2.12 percent late Thursday.

Stocks that pay rich dividends, such as utilities, telecommunication companies and real estate investment companies, slumped the most. These stocks have been popular while interest rates on bonds have remained low. If interest rates on bonds rise, they become less attractive by comparison. The Dow Jones utility average plunged 3.1 percent. It's down 7.8 percent this year.

Some investors said that the sharp sell-off was an overreaction.

"The Fed is not going to raise interest rates from zero to five percent overnight," said Kevin Mahn, Chief Investment Officer of Hennion & Walsh Asset Management.

Mahn says that investors should remember that if interest rates are going up, it's because the economy is getting stronger, and while rates may rise this year, they remain low by historical standards.

Financial stocks were among those that fared better on Friday, logging the smallest loss in the S&P 500 index.

Higher interest rates are generally good for financial companies such as banks because they can lend at higher rates. Banks also rose a day after the Federal Reserve announced that major U.S. lenders had all passed the Fed's annual "stress tests," which are designed to gauge whether lenders are strong enough to withstand severe disruptions to the financial system. Bank of America rose 22 cents, or 1.4 percent, to $16.22, one of the biggest gains in the S&P 500.

Apple was another stock that managed to buck the trend and eke out a small gain.

The company will replace AT&T in the Dow Jones industrial average on March 19, the manager of the index announced Friday. S&P Dow Jones, which manages the index, cast the move as a sort of a housekeeping maneuver, a way of ensuring that the index better reflects the U.S. economy and markets.

Apple, the world's most valuable publicly traded company, gained 19 cents, or 0.2 percent, to $126.60. The company's market value is about $736 billion, according to FactSet data.

The dollar jumped after the release of the job figures as traders priced in an earlier rate hike. The euro, already at 12-year lows, slid to $1.0848. The dollar also rose against the Japanese yen, climbing to 120.72 yen.

While a stronger dollar is a boon to U.S. consumers because it helps make imported goods less expensive, it is a burden to big companies that rely on overseas sales for a lot of their revenue. Global corporations from Coca-Cola to Avon Products have said this year that their earnings have been affected by the strengthening U.S. currency. A rising dollar means that the sales they make abroad are worth less in dollar terms.

In energy trading, the price of U.S. oil fell sharply after the strong jobs report pushed up the value of the dollar. That made oil a less attractive investment for overseas buyers. Benchmark U.S. crude fell $1.15 to close at $49.61 a barrel in New York. Oil finished the week down 25 cents. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 75 cents to close at $59.73 a barrel in London.

Precious and industrial metals futures fell sharply. Gold fell $31.90 to $1,164.30 an ounce, silver fell 35 cents to $15.81 an ounce and copper lost four cents to $2.61 a pound.

In other futures trading on the NYMEX:

— Wholesale gasoline fell 0.5 cent to close at $1.882 a gallon.

— Heating oil fell 0.8 cents to close at $1.869 a gallon.

— Natural gas fell 0.2 cent to close at $2.839 per 1,000 cubic feet.

7853


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	138.94	points or ▲	0.78%	on	Monday, 9 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,995.72	▲	138.94	▲	0.78%		
	Nasdaq____	4,942.44	▲	15.07	▲	0.31%		
	S&P_500___	2,079.43	▲	8.17	▲	0.39%		
	30_Yr_Bond____	2.80	▼	-0.04	▼	-1.41%		

NYSE Volume	 3,349,576,000 	 	 	 	 	  		 
Nasdaq Volume	 1,662,511,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,876.47	▼	-84.67	▼	-1.22%		
	DAX_____	11,582.11	▲	31.14	▲	0.27%		
	CAC_40__	4,937.20	▼	-27.15	▼	-0.55%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,793.00	▼	-75.60	▼	-1.29%		
	Shanghai_Comp	3,302.41	▲	61.22	▲	1.89%		
	Taiwan_Weight	9,562.98	▼	-82.79	▼	-0.86%		
	Nikkei_225___	18,790.55	▼	-180.45	▼	-0.95%		
	Hang_Seng.__	24,123.05	▼	-40.95	▼	-0.17%		
	Strait_Times.__	3,404.57	▼	-12.94	▼	-0.38%		
	NZX_50_Index_	5,896.96	▼	-6.10	▼	-0.10%		

http://finance.yahoo.com/news/us-stock-indexes-climb-gm-191927559.html

*US stock indexes climb; GM gains on buyback announcement

US stock indexes gain, recovering after a big slump on Friday; GM rises on buyback plan*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The stock market's bull run turned six on Monday. The anniversary was marked with modest gains.

Stocks were rebounding from a big sell-off on Friday when the market slumped after an unexpectedly strong jobs report. The healthy hiring picture bolstered speculation that the Federal Reserve will raise its interest rates sooner than had previously been expected.

On Monday, General Motors was among the biggest gainers after announcing a $5 billion stock buyback plan. Deal news also gave the market a boost. Macerich, a real estate investment trust, jumped after bigger rival Simon Property made a hostile bid for the company.

Stocks are becoming more volatile as investors try to assess when the Federal Reserve will start to raise interest rates and the impact that will have on the economy. The Fed has kept its benchmark lending rate close to zero for six years, underpinning the run in stocks that stretches back to March, 2009.

"Every time the market settles in on what the Fed will do, it gets spooked," said Jim Dunigan, chief investment officer at PNC Asset Management. "Today, that anxiety subsided a bit."

The Standard & Poor's 500 index rose 8.17 points, or 0.4 percent, to 2,079.43. The Dow Jones industrial average gained 138.94 points, or 0.8 percent, to 17,995.72. The Nasdaq composite climbed 15.07 points, or 0.3 percent, to 4,942.44.

GM was among the biggest gainers on Monday.

The automaker announced a plan to buy back its own stock. The move is part of a deal with Harry Wilson, an activist investor and a former member of the government task force that restructured GM coming out of its 2009 bankruptcy. In exchange, Wilson agreed to withdraw his hostile candidacy for the Detroit automaker's board of directors. The company's stock rose $1.12, or 3.1 percent, to $37.66.

Macerich, a real estate investment trust that specializes in retail properties, was another winner.

Its stock climbed $6.04, or 7 percent, to $92.76 after Simon Property made a hostile bid of $16 billion in cash and stock for the company.

The S&P 500 has tripled since bottoming out at 676.53 six years ago in the wake of the housing market collapse and the Great Recession. The streak of gains is the fourth longest since the 1940s and has pushed the stock market to record levels.

Despite those sizeable gains, few analysts are calling an end to the bull market just yet.

Scott Wren, a senior global equity strategist at the Wells Fargo Investment Institute, says investors should still take advantage of any sell-offs to add to their positions.

"Overall, you're still going to get out of this year with good, but not great returns," Wren said. Wren forecasts that overseas growth will pick up, helping to underpin a steady recovery in the U.S.

Gains on Monday were led by industrial and technology stocks. These so-called cyclical stocks are most likely to benefit the most if economic growth picks up.

Investors were also keeping an eye on developments overseas.

In Europe, The European Central Bank started its 60 billion euro ($65 billion) per month bond-buying program on Monday. The bank hopes the purchases will stimulate the eurozone economy and get inflation back to the bank's target of just below 2 percent. At present, consumer prices in the 19-country currency bloc are falling at an annual rate of 0.3 percent.

The divergence between the Fed and the ECB's monetary policies has caused the dollar to appreciate against other currencies. The dollar has surged since December, gaining against both the euro and the Japanese yen.

The dollar traded at $1.0853 against the euro on Monday, close to a 12-year high. It also gained against the yen, climbing to 121.15 yen.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.19 percent from 2.25 percent on Friday.

Precious and industrial metals futures closed mixed. Gold edged up $2.20 to $1,166.50 an ounce, silver fell three cents to $15.78 an ounce and copper rose six cents to $2.67 a pound.

The price of oil rose slightly on forecasts that a dramatic increase in inventories at the country's main storage hub in Cushing, Oklahoma may be abating. Benchmark U.S. crude rose 39 cents to close at $50 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.20 to close at $58.53 a barrel in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 0.7 cent to close at $1.875 a gallon.

”” Heating oil fell 2.9 cents to close at $1.840 a gallon.

”” Natural gas fell 16.1 cents to close at $2.678 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-332.78	points or ▼	-1.85%	on	Tuesday, 10 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,662.94	▼	-332.78	▼	-1.85%		
	Nasdaq____	4,859.80	▼	-82.64	▼	-1.67%		
	S&P_500___	2,044.16	▼	-35.27	▼	-1.70%		
	30_Yr_Bond____	2.72	▼	-0.08	▼	-2.86%		

NYSE Volume	 3,669,011,750 	 	 	 	 	  		 
Nasdaq Volume	 1,828,395,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,702.84	▼	-173.63	▼	-2.52%		
	DAX_____	11,500.38	▼	-81.73	▼	-0.71%		
	CAC_40__	4,881.95	▼	-55.25	▼	-1.12%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,794.30	▲	1.30	▲	0.02%		
	Shanghai_Comp	3,286.07	▼	-16.34	▼	-0.49%		
	Taiwan_Weight	9,536.53	▼	-26.45	▼	-0.28%		
	Nikkei_225___	18,665.11	▼	-125.44	▼	-0.67%		
	Hang_Seng.__	23,896.98	▼	-226.07	▼	-0.94%		
	Strait_Times.__	3,398.26	▼	-6.31	▼	-0.19%		
	NZX_50_Index_	5,887.75	▼	-9.21	▼	-0.16%		

http://finance.yahoo.com/news/us-stocks-fall-sharply-fears-210159034.html

*US stocks fall sharply on fears the Fed may soon raise rates

US stocks fall sharply amid global market turmoil on fears of possible US interest rates hikes*
Associated Press
By Bernard Condon, AP Business Writer

NEW YORK (AP) -- The seventh year of the U.S. bull market is off to a rocky start.

U.S. stocks fell sharply on Tuesday, wiping out this year's gains for the Dow Jones industrial average and the Standard & Poor's 500 index. Investors are nervous about the likelihood of the first increase in U.S. interest rates in nine years and a plunge in the value of the euro.

Investors dumped stocks from the start of trading and the selling accelerated as the day wore on. All 10 industry sectors in the S&P 500 closed lower.

The Dow sank 332.78 points, or 1.9 percent, to 17,662.94. The S&P 500 fell 35.27 points, or 1.7 percent, to end at 2,044.16. The Nasdaq composite lost 82.64 points, or 1.7 percent, to 4,859.79. The Nasdaq is still up nearly 3 percent so far this year.

The prospect higher interest rates is unnerving investors. The Fed's ultra-low rate policy, in place since 2008, has allowed companies to borrow cheaply and has made stocks more appealing relative to bonds by pushing bond yields lower. The S&P 500 has tripled since hitting a recession low on March 9, 2009.

A Fed rate increase would also be likely to drive up the value of the U.S. dollar even more. Though a strong dollar sounds good, it can hurt U.S. companies. It makes their goods costlier for foreigners and shrinks the value of profits they collect overseas.

"Regardless of whether the Fed hikes in June or September, it's coming and it's not very far away," said Craig Erlam, senior market analyst at OANDA. "That makes the dollar very strong compared to its peers."

On Tuesday, the euro dropped 1.3 percent against the dollar to a 12-year low of $1.07.

Talk of U.S. rate hikes comes as central banks in other major countries are trying to jolt their economies to faster growth by lowering borrowing costs. On Monday, the European Central Bank began buying bonds to lower long-term interest rates in a program called quantitative easing, or QE. The central bank in Japan has a similar effort underway. The U.S. Fed ended its bond purchases last year.

When central banks move in opposite directions, it can cause disruptions in the global flow of capital into bonds and currencies and, in turn, stocks.

The hit to U.S. companies from the stronger dollar comes as they struggle to meet high earnings targets. In October, earnings per share for the S&P 500 were expected to jump 12 percent in 2015, according to S&P Capital IQ. Now, earnings per share are expected to increase just 1.5 percent.

Steven Ricchiuto, chief economist at Mizuho Securities, thinks U.S. markets are in for trouble as the Fed moves to raise rates.

"Earnings are not improving here, and you're getting weaker potential overseas earnings," he said.

Traders think it's likely that the Federal Reserve will raise interest rates in June given a strengthening U.S. jobs market. A government report on Tuesday showed U.S. employers advertising the most job openings in 14 years in January. That followed a report on Friday that the unemployment rate had fallen to 5.5 percent last month.

Markets also fell in Europe. Britain's FTSE 100 index lost the most, 2.5 percent.

Investors are worried that Greece may run out of money soon. Analysts say Europe is better protected now than two years ago against a potential Greek default, but the possibility continues to create uncertainty. Greece's lenders are withholding rescue money until it comes up with a list of economics reforms. Greece faces a cash crunch this month.

"The Greek government is pushing the envelope with its creditors and the market is scared by the prospect of another long, drawn-out debt negotiation," said David Madden, market analyst at IG.

Bonds in several European countries rose on Tuesday, sending yields lower. In Germany, France, the Netherlands, Spain and Italy, yields on 10-year government bonds hit record lows, according to data from Tradeweb.

Among stocks in the news:

”” Barnes & Noble dropped $2.50, or 10 percent, to $22.36 after reporting fiscal third-quarter profit that fell far short of Wall Street expectations. Revenue also fell due to weakness in its retail and Nook businesses.

”” Credit Suisse surged after the Swiss bank sought to turn the page on a period of scandals and fines by replacing its CEO with the head of British insurer Prudential, Tidjane Thiam. Credit Suisse rose $1.57, or 6.7 percent, to $25.11.

In the U.S. bond market, the yield on the 10-year Treasury note fell to 2.13 percent from 2.19 percent late Monday.

The price of oil fell sharply on further indications of rising global supplies as Iraq production appeared to be returning to market after weather-related disruptions. Benchmark U.S. crude fell $1.71 to close at $48.29 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $2.14 to close at $56.39 in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 5.7 cents to close at $1.818 a gallon.

”” Heating oil fell 2.6 cents to close at $1.814 a gallon.

”” Natural gas rose 5.4 cents to close at $2.732 per 1,000 cubic feet.

Precious and industrial metals futures closed lower. Gold lost $6.40 to $1,160.10 an ounce, silver fell 14 cents to $15.63 an ounce and copper fell five cents to $2.62 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-27.55	points or ▼	-0.16%	on	Wednesday, 11 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,635.39	▼	-27.55	▼	-0.16%		
	Nasdaq____	4,849.94	▼	-9.85	▼	-0.20%		
	S&P_500___	2,040.24	▼	-3.92	▼	-0.19%		
	30_Yr_Bond____	2.68	▼	-0.04	▼	-1.32%		

NYSE Volume	 3,407,256,500 	 	 	 	 	  		 
Nasdaq Volume	 1,805,382,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,721.51	▲	18.67	▲	0.28%		
	DAX_____	11,805.99	▲	305.61	▲	2.66%		
	CAC_40__	4,997.75	▲	115.80	▲	2.37%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,763.30	▼	-31.00	▼	-0.54%		
	Shanghai_Comp	3,290.90	▲	4.83	▲	0.15%		
	Taiwan_Weight	9,523.18	▼	-13.35	▼	-0.14%		
	Nikkei_225___	18,723.52	▲	58.41	▲	0.31%		
	Hang_Seng.__	23,717.97	▼	-179.01	▼	-0.75%		
	Strait_Times.__	3,379.57	▼	-18.69	▼	-0.55%		
	NZX_50_Index_	5,861.98	▼	-25.77	▼	-0.44%		

http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*US stocks slip at close, stabilizing a day after sell-off

US stocks edge lower in listless trading, stabilizing a day after sell-off; euro slides again*
Associated Press
By Bernard Condon, AP Business Writer 

NEW YORK (AP) -- U.S. stock indexes closed slightly lower Wednesday, stabilizing a day after their biggest sell-off in two months.

With no obvious catalyst pushing them either way, indexes spent most of the day wavering between slight gains and losses. Investors are waiting for clues from a Federal Reserve meeting next Wednesday as to when it may start increasing interest rates. The prospect of higher rates and a surge in the dollar have been weighing on markets since indexes hit record highs last week.

Stocks rose at the opening of trading and, until about an hour before the close, were holding onto their gains. The losses at the end were tiny, and energy and financial companies managed to rally.

"Investors are reassessing whether yesterday's sell-off made sense," said David Lefkowitz, senior stock strategist at UBS. "We still like stocks."

The Dow Jones industrial average lost 27.55 points, or 0.2 percent, to close at 17,635.39. The Standard & Poor's 500 index lost 3.92 points, or 0.2 percent, to 2,040.24. Both indexes are down now about 1 percent in 2015.

The Nasdaq composite fell 9.85 points, or 0.2 percent, to 4,849.94. The Nasdaq is up 2.4 percent this year.

The odds of the Fed raising rates appeared to rise on Friday after the U.S. government reported a burst in hiring last month. A rate increase would be the first in nine years. Low rates and other monetary stimulus have helped the S&P 500 to triple in price since the bull market began six years ago.

A U.S. interest rate rise would come as Japan and Europe are struggling to grow and as China's expansion slows. On Wednesday, China's official Xinhua news agency reported that output in the world's second-biggest economy rose 6.8 percent in the first two months of the year, less than expected. China is expected to slow further after growing 7.4 percent last year, the slowest rate in nearly a quarter-century.

"You have three out of four major drivers of economic growth still struggling," said Bill Strazzullo, chief market strategist at Bell Curve Trading. "Can the U.S. go it alone, especially with rates heading higher?"

Strazzullo said he wouldn't be surprised if the S&P 500 fell 10 percent in the coming months.

UBS's Lefkowitz is more optimistic. He said he doesn't think higher interest rates will hurt the U.S. economy because it has been steadily strengthening. After Tuesday's stock market tumble, he published a report showing that, in the six months after initial Fed rate hikes going back to 1954, the S&P 500 has rallied an average 7.6 percent.

David Lebovitz, Global Market Strategist for J.P. Morgan Asset Management, also thinks interest rate fears are overblown. "I think a couple of months after the Fed hikes, the market will be higher," he said.

As the Fed is poised to raise rates, the European Central Bank is trying to lower them. The divergent policies are hammering the euro and sending the dollar higher. On Wednesday, the euro fell to $1.0550, its lowest level since April 2003.

Among stocks making big moves:

”” Apple fell $2.27, or 1.8 percent, to $122.24 after its iTunes and app stores suffered a rare outage, frustrating millions of users around the world. Earlier in the week, Apple announced new details about its Apple Watch and MacBook products.

”” Southwest Airlines rose 90 cents, or 2 percent, to $43.84. The airline said its flights were more crowded and a key revenue figure increased in February compared with a year earlier.

”” Vera Bradley, a handbag and accessories company, plunged $2.93, or 16 percent, to $15.14. The company reported fourth-quarter results below analysts' estimates. Its updated outlook for the fiscal 2016 also disappointed.

The price of U.S. oil fell slightly after the Energy Department reported an increase in inventories that was only slightly larger than analysts had expected. Benchmark U.S. crude fell 12 cents to close at $48.17 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $1.15 to close at $57.54 a barrel in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 0.8 cent to close at $1.826 a gallon.

”” Heating oil rose 0.6 cent to close at $1.820 a gallon.

”” Natural gas rose 9.2 cents to close at $2.824 per 1,000 cubic feet.

In the bond market, U.S. government bond prices rose, pushing yields lower. The yield on the 10-year Treasury note fell to 2.11 percent from 2.13 percent on Tuesday.

Precious and industrial metals futures closed lower. Gold fell $9.50 to $1,150.60 an ounce, silver fell 27 cents to $15.37 an ounce and copper fell two cents to $2.61 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	259.83	points or ▲	1.47%	on	Thursday, 12 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,895.22	▲	259.83	▲	1.47%		
	Nasdaq____	4,893.29	▲	43.35	▲	0.89%		
	S&P_500___	2,065.95	▲	25.71	▲	1.26%		
	30_Yr_Bond____	2.68	▼	-0.01	▼	-0.19%		

NYSE Volume	 3,420,219,000 	 	 	 	 	  		 
Nasdaq Volume	 1,819,094,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,761.07	▲	39.56	▲	0.59%		
	DAX_____	11,799.39	▼	-6.60	▼	-0.06%		
	CAC_40__	4,987.33	▼	-10.42	▼	-0.21%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,816.00	▲	52.70	▲	0.91%		
	Shanghai_Comp	3,349.32	▲	58.42	▲	1.78%		
	Taiwan_Weight	9,596.00	▲	72.82	▲	0.76%		
	Nikkei_225___	18,991.11	▲	267.59	▲	1.43%		
	Hang_Seng.__	23,797.96	▲	79.99	▲	0.34%		
	Strait_Times.__	3,373.60	▼	-4.99	▼	-0.15%		
	NZX_50_Index_	5,886.78	▲	24.80	▲	0.42%		

http://finance.yahoo.com/news/us-stocks-gain-dollar-rally-204757758.html

*US stocks gain as dollar rally wanes; Banks jump

US stocks rebound as dollar falls; Banks gain after many win Fed clearance to raise dividends*
Associated Press
By Steve Rothwell, AP Markets Writer 

NEW YORK (AP) -- A sharp rally in the dollar relented on Thursday, helping push the stock market to its best day in five weeks.

The U.S. currency dropped for the first day in nine against the euro after a weak retail sales report raised questions about the strength of the economy.

A jump in the dollar since the start of the month has pushed stocks back from record levels. Investors are worried that the stronger U.S. currency could crimp corporate earnings by hurting overseas sales. About half of the revenue generated by companies in the Standard & Poor's 500 index comes from overseas.

Financial stocks were among the biggest gainers after a number of banks got approval from the Federal Reserve to raise dividends and buy back shares. Intel was one of the days' biggest losers after the company cut its revenue forecast for the first quarter.

"It's the pullback in the dollar that's cheering investors," said Peter Cardillo, chief market economist at Rockwell Global Capital. "The frenzy that we saw in the foreign exchange markets has, at least for today, calmed down."

The Standard & Poor's 500 index climbed 25.71 points, or 1.3 percent, to 2,065.95. The best performance for the index since Feb. 3.

The Dow Jones industrial gained 259.83 points, or 1.5 percent, to 17,895.22. The Nasdaq composite climbed 43.55 points, or 0.9 percent, to 4,893.29

Stocks have slumped since the start of the month on speculation that the Federal Reserve could raise its benchmark interest rate in June as hiring continues to improve. Policy makers have held their main rate close to zero for more than six years to help the economy recover from the Great Recession.

Thursday's slide in the dollar and the positive news on the banks more than outweighed a government report that showed retail sales were sluggish in February. The ongoing weakness is raising concerns about the strength of the economy.

Retail sales remain poor despite a big drop in gas prices last year. U.S. retail sales fell in February as auto purchases dropped by the most in more than a year and Americans spent less at restaurants and home improvement stores. Retail sales fell 0.6 percent last month after a 0.8 percent decline in January, the Commerce Department said Thursday. It was the third straight drop.

Many investors think it's only a matter of time before consumers start to spend again, particularly if gas prices stay low and wages start to rise.

"We're still set up for a good back-half of the year," said Michael Scanlon, a senior investment analyst at John Hancock Asset Management. "People are going to start spending that money that they are saving on fuel ... and we're definitely seeing green shoots of wage inflation."

Among individual stocks, Intel was the biggest decliner in the S&P 500.

Intel cut its revenue forecast for the first quarter to $12.5 billion to $13.1 billion. The company cited weak demand for business desktop PCs and a strong dollar, which diminished revenue from overseas sales. Intel's stock slumped $1.53, or 4.7 percent, to $30.80.

Morgan Stanley was the biggest gainer in the index.

The bank and other financial stocks gained after the Fed approved their plans to raise dividends and buy back shares. The announcements follow regulatory tests that assess whether lenders have adequate reserves to withstand a major economic downturn.

Morgan Stanley gained $2.14, or 6.1 percent, to $37.09 after announcing a $3.1 billion stock buyback and raising its dividend to 15 cents from 10 cents.

Citigroup was another big gainer. Its stock rose $1.75, or 3.3 percent, to $54.08 after the bank announced late Wednesday that it would buy back $7.8 billion in stock and raise its quarterly dividend to 5 cents from 1 cent.

While the Fed appears to be edging closer to raising rates, the European Central Bank and the Bank of Japan are still trying to stimulate their economies by lowering borrowing costs. The divergent policies have pushed the dollar sharply higher against most other major currencies.

In the short term, investors worry that the stronger dollar will act as a drag on profits for global companies that rely on overseas sales for a large portion of their revenue.

On the Thursday, the U.S. currency pared some of its gains.

The euro appreciated 0.5 percent against the dollar and was trading at $1.0635. The dollar also lost ground against the Japanese yen, falling to 121.29 yen.

U.S. government bond prices were little changed from Wednesday. The yield on the benchmark 10-year Treasury note held steady at 2.11 percent.

In metals trading, gold gained $1.30, or 0.1 percent, to $1,151.90 an ounce. Silver rose 15 cents, or 1 percent, to $15.52 an ounce. Copper gained 5.3 cents, or 2 percent, to $2.66 per pound.

The price of oil fell for the fifth time in 6 days on continuing concerns about rising supplies in the U.S. and around the world. Benchmark U.S. crude fell $1.12 to close at $47.05 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 46 cents to close at $57.08 in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 1.6 cent to close at $1.810 a gallon.

”” Heating oil rose 4.1 cent to close at $1.779 a gallon.

”” Natural gas fell 9 cents to close at $2.734 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-145.91	points or ▼	-0.82%	on	Friday, 13 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,749.31	▼	-145.91	▼	-0.82%		
	Nasdaq____	4,871.76	▼	-21.53	▼	-0.44%		
	S&P_500___	2,053.40	▼	-12.55	▼	-0.61%		
	30_Yr_Bond____	2.70	▲	0.02	▲	0.63%		

NYSE Volume	 3,499,276,250 	 	 	 	 	  		 
Nasdaq Volume	 1,801,874,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,740.58	▼	-20.49	▼	-0.30%		
	DAX_____	11,901.61	▲	102.22	▲	0.87%		
	CAC_40__	5,010.46	▲	23.13	▲	0.46%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,788.00	▼	-28.00	▼	-0.48%		
	Shanghai_Comp	3,372.91	▲	23.59	▲	0.70%		
	Taiwan_Weight	9,579.35	▼	-16.65	▼	-0.17%		
	Nikkei_225___	19,254.25	▲	263.14	▲	1.39%		
	Hang_Seng.__	23,823.21	▲	25.25	▲	0.11%		
	Strait_Times.__	3,362.77	▼	-10.83	▼	-0.32%		
	NZX_50_Index_	5,908.59	▲	21.80	▲	0.37%		

http://finance.yahoo.com/news/stocks-decline-third-week-interest-203205459.html

*Stocks decline for third week; interest rate worries persist

US stocks fall for third-straight week; worries about oil prices and interest rates persist*
Associated Press
By Ken Sweet, AP Business Writer

NEW YORK (AP) -- The stock market was hit hard Friday, capping a third week of declines, as investors reacted to a steep drop in oil prices and a jump in the value of the dollar.

Utilities, companies that make basic materials like steel, and major exporters had the biggest declines.

The sell-off came at the end of a volatile week and sets the stage for a Federal Reserve policy meeting next week. Investors will be watching closely for clues about the central bank's views on the economy and interest rates.

"This week has really been about investors' outlooks adjusting in the face of higher interest rates later this year," said Gabriela Santos, a global market strategist at JPMorgan Funds.

The Dow Jones industrial average fell 145.91 points, or 0.8 percent, to 17,749.31. The Standard & Poor's 500 index lost 12.55 points, or 0.6 percent, to 2,053.40 and the Nasdaq composite lost 21.53 points, or 0.4 percent, to 4,871.76.

Oil dropped sharply after the International Energy Agency said prices had further to fall because supplies were continuing to rise. Benchmark U.S. crude fell $2.21 to close at $44.84 a barrel in New York. Oil is now within 40 cents of its low for the year, and its lowest level in six years, after a drop of 10 percent this week. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $2.41 to close at $54.67 a barrel in London.

Several energy stocks followed the price of oil lower. Transocean, an offshore oil rig company, fell 67 cents, or 4.7 percent, to $13.60 and Denbury Resources fell 29 cents, or 3.8 percent, to $7.31.

The U.S. dollar continued its advance against other major currencies. The euro declined 1.3 percent to $1.0486. The U.S. dollar index, which measures the dollar against a group of other currencies, increased 0.8 percent Friday and is up 6.4 percent over the past month.

The dollar's advance can be tied to two factors, strategists say. The U.S. economy is getting better, as seen by the strong jobs report last week, and the Federal Reserve is poised to raise interest rates sooner rather than later. In comparison, the European Central Bank is trying to drive down interest rates by buying government bonds, a tactic the Fed used until last fall. The ECB's program has been driving down the value of the euro.

A higher dollar makes U.S. exports more expensive abroad. General Electric, Caterpillar and Deere fell more than the rest of the market. U.S. Steel, whose products competes with cheap foreign imports, fell nearly 4 percent after the company announced it would idle of its operations and lay off workers. U.S. Steel lost 83 cents to $21.80.

"A rise in the dollar over a long period of time is fine, but this very rapid appreciation can directly impact companies' profits," Santos said.

Stocks that pay higher dividends, such as utilities, also had big losses. The Dow Jones utility index fell 1 percent. That index is down 7.4 percent so far this year.

A growing number of investors believe the Federal Reserve will raise its benchmark interest rate as early as June. Higher rates are typically bad for high-dividend stocks because it diminishes their appeal to investors seeking income.

In the bond market, U.S. government bond prices didn't move much. The yield on the 10-year Treasury note was unchanged at 2.12 percent.

In other commodity markets, precious and industrial metals futures closed little changed on the day. Gold edged up 50 cents to $1,152.40 an ounce, silver fell two cents to $15.49 an ounce and copper was flat at $2.66 a pound. In other energy trading, wholesale gasoline fell 4.8 cents to close at $1.762 a gallon, heating oil fell 6.6 cents to close at $1.713 a gallon and natural gas fell 0.7 cents to close at $2.727 per 1,000 cubic feet.

8390


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	228.11	points or ▲	1.29%	on	Monday, 16 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,977.42	▲	228.11	▲	1.29%		
	Nasdaq____	4,929.51	▲	57.75	▲	1.19%		
	S&P_500___	2,081.19	▲	27.79	▲	1.35%		
	30_Yr_Bond____	2.68	▼	-0.02	▼	-0.67%		

NYSE Volume	 3,295,894,750 	 	 	 	 	  		 
Nasdaq Volume	 1,673,514,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,804.08	▲	43.01	▲	0.64%		
	DAX_____	12,167.72	▲	266.11	▲	2.24%		
	CAC_40__	5,061.16	▲	50.70	▲	1.01%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,769.70	▼	-18.30	▼	-0.32%		
	Shanghai_Comp	3,449.30	▲	76.39	▲	2.26%		
	Taiwan_Weight	9,512.91	▼	-66.44	▼	-0.69%		
	Nikkei_225___	19,246.06	▼	-8.19	▼	-0.04%		
	Hang_Seng.__	23,949.55	▲	126.34	▲	0.53%		
	Strait_Times.__	3,376.04	▲	13.27	▲	0.39%		
	NZX_50_Index_	5,911.40	▲	2.81	▲	0.05%		

http://finance.yahoo.com/news/us-stocks-gain-rebounding-weeks-152242719.html

*US stocks gain, rebounding after weeks of losses

US stocks climb as dollar's rally against the euro abates; Oil falls to six-year low*
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- U.S. stocks bounced back on Monday after losing ground for three weeks as the dollar's rally against the euro abated.

Elsewhere in financial markets, oil closed at a six-year low, below $44 a barrel, as supplies continue to outpace demand. Treasurys gained after some mixed reports on the economy.

The stock market has stumbled in recent weeks as the dollar has surged against the euro. The U.S. currency has been rising on expectations that the Federal Reserve will start to raise interest rates even as the European Central Bank continues to provide stimulus to that region's economy.

A stronger dollar is a problem for big U.S. companies that rely on overseas sales because it makes their goods more expensive in foreign markets and reduces the value of the profits they bring back home to the U.S.

"The dollar was weaker today, which was helpful." said Quincy Krosby, a market strategist at Prudential Financial. "There's no doubt that the stronger dollar has been impeding sales."

The Standard & Poor's 500 index rose 27.79 points, or 1.4 percent, to 2,081.19. It was the biggest gain for the index in six weeks.

The Dow Jones industrial average climbed 228.11 points, or 1.3 percent, to 17,977.42. The Nasdaq composite jumped 57.75 points, or 1.2 percent, to 4,929.51.

The focal point this week for investors is the Fed's two-day policy meeting that starts on Tuesday. Many investors and analysts expect the U.S. central bank will signal in a statement after the meeting that they are considering raising interest rates later this year. The Fed has kept its benchmark lending rate near zero for more than six years, underpinning a strong rally in U.S. stocks.

Investors will also be looking for any comments Fed policymakers might make on the impact to the economy of the rapid surge in the dollar, Krosby said.

Stocks rose broadly on Monday. Nine of the 10 industry groups that make up the S&P 500 index rose.

The market gained despite some mixed reports on the economy.

U.S. industrial production edged up slightly in February as a big surge by utilities due to a cold winter offset a third straight decline in factory output. The Federal Reserve also reported that industrial production rose 0.1 percent in February following a 0.3 percent fall in January.

Another report showed that U.S. homebuilders are feeling slightly less confident in their sales prospects, even as their overall sales outlook remains favorable. The National Association of Home Builders/Wells Fargo builder sentiment index slipped this month to 53, down two points from February. It's the third monthly decline in a row.

The economic data gave a lift to bond prices, pushing Treasury yields lower. The yield on the 10-year Treasury note dropped to 2.08 percent from 2.12 percent on Friday.
View gallery
US stocks gain, rebounding after weeks of losses
Trader Christopher Fuchs, left, works on the floor of the New York Stock Exchange, Monday, March 16 …

Health care stocks were the biggest gainers of the 10 industry groups that make up the S&P 500, rising 2.2 percent. Gains for the sector were led by Edwards Lifesciences, a company that develops and manufactures products to treat heart disease. On Sunday, the company announced positive study results for the medical device maker's third-generation heart-valve replacement system.

The company's stock climbed $13.29, or 9.8 percent, to $148.64, making it the biggest gainer in the S&P 500.

Avon Products was the biggest loser in index.

The cosmetics company's stock is being removed from the S&P 500 on March 20. It will be replaced by menswear company Hanesbrands. Avon fell 44 cents, or 5.7 percent, to $7.28.

Energy stocks managed to gain despite another big slump in the price of oil.

Oil fell to its lowest level in six years on continuing expectations that rising supplies in the U.S. are far outpacing demand. Benchmark U.S. crude fell 96 cents to close at $43.88 a barrel in New York.

The price of oil has dropped 12 percent over the past week, and is now the lowest since March of 2009. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.23 to close at $53.44 in London.

In Europe, Germany's DAX rose 2.2 percent to 12,167, the first time the index has closed above 12,000. France's CAC 40 rose 1 percent to 5,061, while Britain's FTSE 100 rose 0.9 percent to 6,804. European stocks have surged this year after the European Central Bank announced that it would introduce more stimulus to revive the region's slumping economy.

In currency trading, the euro strengthened to $1.0575 from $1.0497 Friday. The U.S. currency has surged against the euro in this year. The strengthening dollar hurts U.S. companies such as Coca-Cola and Proctor & Gamble that rely on overseas sales for a large chunk of their revenue.

The dollar was little changed against the Japanese currency at 121.40 yen.

Precious and industrial metals futures edged higher. Gold rose 80 cents to $1,153.20 an ounce, silver rose 12 cents to $15.62 an ounce and copper inched up less than a penny to $2.67 a pound.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 3.3 cents to close at $1.729 a gallon.

”” Heating oil fell 1.4 cents to close at $1.699 a gallon.

”” Natural gas fell 1.1 cents to close at $2.716 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-128.34	points or ▼	-0.71%	on	Tuesday, 17 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,849.08	▼	-128.34	▼	-0.71%		
	Nasdaq____	4,937.43	▲	7.93	▲	0.16%		
	S&P_500___	2,074.28	▼	-6.91	▼	-0.33%		
	30_Yr_Bond____	2.62	▼	-0.06	▼	-2.28%		

NYSE Volume	 3,190,258,000 	 	 	 	 	  		 
Nasdaq Volume	 1,689,431,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,837.61	▲	33.53	▲	0.49%		
	DAX_____	11,980.85	▼	-186.87	▼	-1.54%		
	CAC_40__	5,028.93	▼	-32.23	▼	-0.64%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,811.00	▲	41.30	▲	0.72%		
	Shanghai_Comp	3,502.85	▲	53.54	▲	1.55%		
	Taiwan_Weight	9,539.44	▲	26.53	▲	0.28%		
	Nikkei_225___	19,437.00	▲	190.94	▲	0.99%		
	Hang_Seng.__	23,901.49	▼	-48.06	▼	-0.20%		
	Strait_Times.__	3,369.95	▼	-6.09	▼	-0.18%		
	NZX_50_Index_	5,905.41	▼	-5.99	▼	-0.10%		

http://finance.yahoo.com/news/us-stocks-mostly-fall-fed-205006353.html

*US stocks mostly fall as Fed meets on interest rates

US stocks mostly drop, a day after big jump, as investors wait for clues from Fed on rate hike*
Associated Press
By Bernard Condon, AP Business Writer

A day after their biggest gain in six weeks, U.S. stock indexes mostly fell on Tuesday as oil continued to slide and investors fretted over when the Federal Reserve will raise a key borrowing rate. Low rates have helped stocks soar over the past six years. The Fed kicked off a two-day meeting on Tuesday to discuss rates, and will release a policy statement on Wednesday.

Losses were small, but spread across industries. Nine of the 10 sectors of the Standard & Poor's 500 index dropped, led by a 1.2 percent fall in raw-material companies.

Randall Warren, chief investment officer of Warren Financial Service, said he's isn't worried about higher rates, but is bracing for more price swings nonetheless.

"The economy is stronger, and can handle it and people will realize that," he said. "But now we're in the fear phase."

The S&P 500 fell 6.99 points, or 0.3 percent, to 2,074.20. The Dow Jones industrial average lost 128.34 points, or 0.7 percent, to 17,849.08. The Dow jumped 228 the day before.

The Nasdaq composite edged up 7.93 points, or 0.2 percent, to 4,937.43.

Energy stocks sank as the price of oil slid for the sixth straight day to another six-year low. U.S. benchmark crude fell 42 cents to close at $43.46 a barrel in New York.

In its statement released Wednesday, the Fed is widely expected to drop the word "patient" in describing how long it will wait to raise rates. Many economists think that will signal that the Fed will make its first move in June.

Others aren't so sure, with some predicting the central bank will wait until next year.

Mixed signals on the economy have been adding to the uncertainty.

U.S. employers have added more than 200,000 jobs in each of the past 12 months, and the unemployment rate has fallen to 5.5 percent. That is the lowest rate in seven years.

On the down side, a report on Monday showed output at the nation's factories fell for a third straight month in February.

"We keep getting good economic information, then bad economic information," said Aaron Jett, an equity strategist at Bel-Air Investment Advisors. "There's no conviction about what the Fed will do."

On Tuesday, the Commerce Department said construction of new homes plummeted 17 percent in February from the month before, to a seasonally adjusted annual rate of 897,000. Bad winter weather in Northeast and Midwest was mostly to blame.

Homebuilder stocks dropped on the news. Hovnanian Enterprises fell 8 cents, or 2.4 percent, to $3.27.

Other stocks in the news:

”” Apple rose $2.09, or 1.7 percent, to $127.04 on a report in the Wall Street Journal that the iPhone maker is in talks with programmers to include TV networks in an online television service.

”” Weight Watchers sank 20 cents, or 2 percent, to $9.93 after Credit Suisse downgraded its rating on the stock. The bank said the company faces tough competition from free and lower-cost weight loss alternatives.

”” American Airlines jumped $3.47, or nearly 7 percent, to $53.69 after news that the carrier will join the S&P 500 index after the close of trading Friday.

The euro strengthened to $1.0603 from $1.0578. The dollar was unchanged at 121.37 yen.

In oil markets, Brent crude for May delivery, a benchmark for international oils used by many U.S. refineries, fell 43 cents to close at $53.51 in London. The Brent contract for April delivery expired Monday at $53.44 a barrel.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 0.1 cent to close at $1.730 a gallon.

”” Heating oil fell 0.5 cent to close at $1.694 a gallon.

”” Natural gas rose 13.9 cents to close at $2.855 per 1,000 cubic feet.

Precious and industrial metals futures fell. Gold lost $5 to $1,148.20 an ounce, silver fell four cents to $15.58 an ounce and copper fell three cents to $2.63 a pound.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.05 percent from 2.08 percent on Monday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	227.11	points or ▲	1.27%	on	Wednesday, 18 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,076.19	▲	227.11	▲	1.27%		
	Nasdaq____	4,982.83	▲	45.39	▲	0.92%		
	S&P_500___	2,099.50	▲	25.22	▲	1.22%		
	30_Yr_Bond____	2.54	▼	-0.08	▼	-3.02%		

NYSE Volume	 4,102,171,500 	 	 	 	 	  		 
Nasdaq Volume	 1,918,997,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,945.20	▲	107.59	▲	1.57%		
	DAX_____	11,922.77	▼	-58.08	▼	-0.48%		
	CAC_40__	5,033.42	▲	4.49	▲	0.09%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,808.00	▼	-3.00	▼	-0.05%		
	Shanghai_Comp	3,577.30	▲	74.45	▲	2.13%		
	Taiwan_Weight	9,653.43	▲	113.99	▲	1.19%		
	Nikkei_225___	19,544.48	▲	107.48	▲	0.55%		
	Hang_Seng.__	24,120.08	▲	218.59	▲	0.91%		
	Strait_Times.__	3,361.75	▼	-8.20	▼	-0.24%		
	NZX_50_Index_	5,846.66	▼	-58.74	▼	-0.99%		

http://finance.yahoo.com/news/stocks-bonds-rally-fed-says-203556137.html

*Stocks, bonds rally as Fed says it may move slowly on rates

US stocks and bonds rally after Fed signals it may move slowly on raising rates, dollar slumps*
Associated Press
By Steve Rothwell, AP Markets Writer 

NEW YORK (AP) -- Stocks rallied Thursday after the Federal Reserve signaled that it may move slowly to raise interest rates.

While the central bank left open the possibility of a rate increase later in the year, policymakers also lowered their assessment of the economy and noted that inflation was likely to remain low.

Investors had expected the Fed to signal that it was close to raising rates, possibly as early as June, and were surprised by the cautious tone that policymakers struck on the outlook for the economy.

Stocks swung from losses earlier in the day to big gains after the statement was released. Bonds also rallied, pushing the yield on the 10-year Treasury note back below 2 percent. The dollar plunged against the euro.

"There is very little to suggest that the Fed is going to raise rates aggressively this year," said Jeremy Zirin, an investment strategist at UBS Wealth Management.

The Standard & Poor's 500 index rose 25.14 points, or 1.2 percent, to 2,099.42. The index had been down as much as 11 points before the release of the Fed's statement at 2:00 p.m.

The Dow Jones industrial average gained 227.11 points, or 1.3 percent, to 18,076.19. The Nasdaq composite rose 45.39 points, or 0.9 percent, to 4,982.83.

Energy companies led the gains for stocks as the price of oil spiked after the Fed's statement. Lower rates tend to make oil and other hard assets more attractive investments, increasing their prices. The energy sector in the S&P 500 jumped 2.9 percent.

Benchmark U.S. crude rose $1.20 to close at $44.66 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $2.40 to close at $55.91 a barrel in London.

Fed policymakers have held their benchmark interest rate close to zero since 2008 to help the economy recover from the Great Recession. Low rates make it easier for businesses and consumers to borrow and spend. They have also helped the stock market soar over the past six years, pushing major stock indexes to record levels.

The Fed's statement confirmed that stocks remain in a "Goldilocks" environment, where growth is solid, but not strong enough to stoke inflation, said Zirin at UBS.

"This still seems to be the sweet spot for equity investors, where you should see decent, but unspectacular earnings gains," he said.

In currency trading, the dollar slumped, reversing a recent surge against the euro.

The U.S. currency traded lower against the euro, weakening almost 3 percent to $1.0894. The dollar had traded as low as $1.05 earlier in the week.

The dollar weakened to 119.85 yen from 121.34 yen late Tuesday.

U.S. government bond prices jumped. The yield on the 10-year Treasury note fell to 1.92 percent from 2.08 percent on Tuesday, a sharp move lower.

Metals were mixed. Gold rose $3.10, or 0.3 percent, to $1,151.30 an ounce. Silver fell four cents, or 0.2 percent, to $15.54 an ounce. Copper dropped 6 cents, or 2.4 percent, to $2.57 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-117.16	points or ▼	-0.65%	on	Thursday, 19 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,959.03	▼	-117.16	▼	-0.65%		
	Nasdaq____	4,992.38	▲	9.55	▲	0.19%		
	S&P_500___	2,089.27	▼	-10.23	▼	-0.49%		
	30_Yr_Bond____	2.54	▲	0.00	▲	0.08%		

NYSE Volume	 3,290,154,250 	 	 	 	 	  		 
Nasdaq Volume	 1,626,514,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,962.32	▲	17.12	▲	0.25%		
	DAX_____	11,899.40	▼	-23.37	▼	-0.20%		
	CAC_40__	5,037.18	▲	3.76	▲	0.07%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,912.50	▲	104.50	▲	1.80%		
	Shanghai_Comp	3,582.27	▲	4.97	▲	0.14%		
	Taiwan_Weight	9,736.73	▲	83.30	▲	0.86%		
	Nikkei_225___	19,476.56	▼	-67.92	▼	-0.35%		
	Hang_Seng.__	24,468.89	▲	348.81	▲	1.45%		
	Strait_Times.__	3,386.16	▲	24.41	▲	0.73%		
	NZX_50_Index_	5,859.40	▲	12.74	▲	0.22%		

http://finance.yahoo.com/news/us-stock-market-sinks-price-155627320.html

*US stock market sinks as price of crude oil resumes a slide

US stocks slip as oil price fades, bringing down energy sector; Apple joins Dow industrials*
Associated Press
By Matthew Craft, AP Business Writer 

NEW YORK (AP) -- Another drop in oil prices helped drive the stock market to a loss on Thursday, as major indexes gave up their gains from the day before. Chevron, Exxon Mobil and other energy companies led stocks down.

Benchmark U.S. oil sank 70 cents to close at $43.96 a barrel in New York, extending a slump that has slashed prices by more than half over the past year.

"Given the big drop that we've had the big question is, when does oil hit bottom?" said Jeff Carbone, a senior partner at Cornerstone Financial Partners in Charlotte, North Carolina. "I don't think oil will bottom out until a company or a country flinches and cuts production. Right now producers are still pumping as much as they can."

It was Apple's first day as a member of the Dow Jones industrial average, as the maker of iPhones, iPads and other gadgets replaced AT&T. Goldman Sachs also took Visa's title as the most expensive stock among the blue chips. Because the Dow weighs its 30 companies by their share price instead of their market value, a stock split for Visa pushed the payment processor off its perch.

The Standard & Poor's 500 fell 10.23 points, or 0.5 percent, to 2,089.27.

The Dow Jones industrial average lost 117.16 points, or 0.6 percent, to 17,959.03. The Nasdaq composite rose 9.55 points, or 0.2 percent, to 4,992.38.

The economic news out Thursday gave investors little encouragement to drive stocks up. An index aimed at gauging the economy's momentum rose by a slight amount for a second straight month, and the number of people seeking U.S. unemployment benefits held steady. The Labor Department reported that weekly applications for unemployment aid edged up by 1,000 to 291,000 last week.

Phil Orlando, chief equity strategist at Federated Investors, thinks the market could hit a rough patch soon, with the S&P 500 sliding 5 percent or more in the coming months. "Why do we think that? Because what hit the fourth quarter hit in the first quarter: the stronger dollar, the decline in energy prices and the weather."

Any turbulence shouldn't last long, Orlando said, arguing that low gas prices could lead to a surge in consumer spending later in the year. "At some point, people have to say maybe energy prices will stay low and so we'll ratchet up our spending," he said.

The stock market surged Wednesday after the Federal Reserve signaled that it wasn't in a hurry to raise interest rates. Years of ultra-low rates has helped lift stock and bond prices by keeping the cost of borrowing cheap. The Fed has held its benchmark interest rate close to zero since 2008.

Major markets in Europe were mixed. Germany's DAX fell 0.2 percent, while France's CAC 40 edged up 0.1 percent. Britain's FTSE 100 rose 0.2 percent.

Back in the U.S., Nucor, a steel company, cut its forecast for quarterly earnings, blaming rising imports for driving steel prices down. Nucor plunged $3.17, or 6 percent, to $46.10.

Transocean announced late Wednesday that it would scrap four drilling rigs that it had tried to sell, requiring the company to take a charge against its earnings. Transocean sank $1.09, or 7 percent, to $14.16.

Prices for U.S. government bond prices slipped, nudging yields up. The yield on the 10-year Treasury note rose to 1.97 percent from 1.92 percent on Wednesday.

In the commodity markets, precious and industrial metals settled with strong gains. Gold rose $17.70 to $1,169 an ounce, while silver jumped 57 cents to $16.11 an ounce. Copper added nine cents to $2.66 a pound.

Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.48 to close at $54.43 in London.

In other futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline fell 2.5 cents to close at $1.774 a gallon.

”” Heating oil fell 5.1 cents to close at $1.722 a gallon.

”” Natural gas fell 10.7 cents to close at $2.813 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	168.62	points or ▲	0.94%	on	Friday, 20 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,127.65	▲	168.62	▲	0.94%		
	Nasdaq____	5,026.42	▲	34.04	▲	0.68%		
	S&P_500___	2,108.10	▲	18.83	▲	0.90%		
	30_Yr_Bond____	2.50	▼	-0.03	▼	-1.38%		

NYSE Volume	 5,554,799,000 	 	 	 	 	  		 
Nasdaq Volume	 2,774,743,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,022.51	▲	60.19	▲	0.86%		
	DAX_____	12,039.37	▲	139.97	▲	1.18%		
	CAC_40__	5,087.49	▲	50.31	▲	1.00%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,936.30	▲	23.80	▲	0.40%		
	Shanghai_Comp	3,617.32	▲	35.05	▲	0.98%		
	Taiwan_Weight	9,749.69	▲	12.96	▲	0.13%		
	Nikkei_225___	19,560.22	▲	83.66	▲	0.43%		
	Hang_Seng.__	24,375.24	▼	-93.65	▼	-0.38%		
	Strait_Times.__	3,412.44	▲	26.28	▲	0.78%		
	NZX_50_Index_	5,871.38	▲	11.97	▲	0.20%		

http://finance.yahoo.com/news/us-stocks-rise-rebound-oil-141218978.html
*
US stocks rise on rebound in oil, strong company results

US stocks turn higher as oil rebounds; Nike, Darden report strong results*
Associated Press
By Ken Sweet, AP Business Writer 

NEW YORK (AP) -- Stocks advanced Friday, capping a strong week, helped by a recovery in the price of oil and earnings from Olive Garden owner Darden Restaurants and sportswear giant Nike.

The Nasdaq composite index inched closer to its all-time high set at the height of the dot-com bubble.

Once again, it was the Federal Reserve affecting much of this week's market movement. The Fed implied at the end of its two-day meeting Wednesday that its policymakers were in no hurry to raise interest rates with the U.S. economy still growing slowly and inflation extremely low. Friday's rally was partly an extension of that, strategists said.

"The trepidation in the market before the Fed announcement has disappeared," said Kristina Hooper, U.S. investment strategist at Allianz Global Investments.

The Dow Jones industrial average rose 168.62 points, or 0.9 percent, to 18,127.65. The Standard & Poor's 500 index rose 18.79 points, or 0.9 percent, to 2,108.06 and the Nasdaq composite added 34.04 points, or 0.7 percent, to 5,026.42.

The Nasdaq closed 22 points from the record high of 5,048 it set in March 2000. It has taken the Nasdaq 15 years to recover from the dot-com bubble, while the S&P 500 and Dow recovered their losses in 2007 and 2006, respectively.

Dow member Nike was among the biggest gainers Friday, rising $3.66, or 3.7 percent, to $101.98. Nike's results beat expectations, but investors focused more on the fact that foreign sales remain strong despite the rising dollar and overseas market volatility.

The rapid rise in the dollar has been a particular sore spot for investors. The dollar is up more than 8 percent against the major currencies this year, which makes goods made in the U.S. more expensive abroad and has had a direct negative impact on sales. The dollar rose to 120.09 yen from 120.76 yen Thursday. The euro rose to $1.0809 from $1.0668 the previous day.

The latest example was jewelry maker Tiffany & Co., which cut its full-year profit forecast, saying the higher dollar was making its products less attractive to foreign buyers. Tiffany's stock fell $3.44, or 4 percent, to $82.93.

"The dollar's appreciation has been rapid and it's become a problem for many of these companies who have significant exposure to foreign markets," said Russ Koesterich, BlackRock's global chief investment strategist.

Oil also helped the market Friday. After dropping more than 3 percent Thursday, U.S. benchmark oil for April delivery jumped $1.76, or 4 percent, to $45.72 a barrel. Energy stocks rose far more than the rest of the market. The S&P 500's energy sector gained 2 percent.

Oil ended a volatile week up 2 percent even after dropping to its lowest level in six years on Tuesday. Oil inventories are at record highs, but the number of rigs drilling for oil is falling fast and a sliding U.S. dollar is making oil a more attractive investment to overseas buyers.

Brent crude, the international standard, rose 89 cents, or 1.6 percent, to $55.32 a barrel.

In other futures trading on the NYMEX:

— Wholesale gasoline rose 2.4 cents to close at $1.798 a gallon.

— Heating oil rose 1.2 cents to close at $1.734 a gallon.

— Natural gas fell 2.7 cents to close at $2.786 per 1,000 cubic feet.

In the metals markets, precious and industrial metals futures rose. Gold gained $15.60 to $1,184.60 an ounce, silver jumped 77 cents to $16.88 an ounce and copper rose 10 cents to $2.76 a pound.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 1.93 percent from 1.97 percent late Thursday.

9078


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-11.61	points or ▼	-0.06%	on	Monday, 23 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,116.04	▼	-11.61	▼	-0.06%		
	Nasdaq____	5,010.97	▼	-15.44	▼	-0.31%		
	S&P_500___	2,104.42	▼	-3.68	▼	-0.17%		
	30_Yr_Bond____	2.51	▲	0.00	▲	0.20%		

NYSE Volume	 3,223,018,500 	 	 	 	 	  		 
Nasdaq Volume	 1,580,743,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,037.67	▲	75.35	▲	1.08%		
	DAX_____	11,895.84	▼	-143.53	▼	-1.19%		
	CAC_40__	5,054.52	▼	-32.97	▼	-0.65%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,921.00	▼	-15.30	▼	-0.26%		
	Shanghai_Comp	3,687.73	▲	70.41	▲	1.95%		
	Taiwan_Weight	9,758.09	▲	8.40	▲	0.09%		
	Nikkei_225___	19,754.36	▲	194.14	▲	0.99%		
	Hang_Seng.__	24,494.51	▲	119.27	▲	0.49%		
	Strait_Times.__	3,414.61	▲	2.17	▲	0.06%		
	NZX_50_Index_	5,875.23	▲	3.85	▲	0.07%		

http://finance.yahoo.com/news/us-stock-market-starts-week-204719882.html

*US stock market starts the week with a small loss

US stocks start week with small losses; Nasdaq slips after flirting with record last week*
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- A late turn pulled the stock market to a loss on Monday, as major indexes wavered following a strong run last week.

Kansas City Southern slumped 8 percent, the biggest fall in the Standard & Poor's 500 index, after the railroad operator trimmed its revenue estimates, pointing to falling fuel prices and the strengthening dollar. Its stock lost $9.21 to $106.48.

Major indexes started higher in morning trading, settled into an afternoon lull, then dipped down in the last 10 minutes of trading.

The S&P 500 fell 3.68 points, or 0.2 percent, to close at 2,104.42.

The Dow Jones industrial average lost 11.61 points, or 0.1 percent, to 18,116.04 while the Nasdaq composite slipped 15.44 points, or 0.3 percent, to 5,010.97.

Traders kept tabs on a meeting in Europe between the leaders of Greece and Germany for signs of progress in Greece's debt negotiations. Greece faces a cash crunch in the coming weeks and is in talks with its European lenders on what steps it must take to receive more loans. Greece's Prime Minister, Alexis Tsipras, committed to keeping a dialogue open on reforms that would qualify Greece for urgently-needed rescue loans.

Brad McMillan, chief investment officer at Commonwealth Financial, said he expects the market to head higher over the coming months because there appears to be nothing on the horizon capable of knocking it off course. Investors have pushed the S&P 500 to all-time highs despite concerns over Europe's sluggish economy and slumping oil prices.

"Greece hasn't pulled it down, deflation hasn't pulled it down," McMillan said. "Unless the Federal Reserve says it's going to raise interest rates in June, I just can't see what's going to pull it down."

Last week, the S&P 500 jumped nearly 3 percent, its biggest weekly gain since early February. Investors cheered Wednesday when the Federal Reserve said that it was in no hurry to raise interest rates with inflation low.

Among other companies making moves, Gilead Sciences dropped following reports that the pharmaceutical company told physicians that nine patients taking its hepatitis C treatments developed slow heartbeats and that one died. Gilead slid $2.03, or 2 percent, to $100.26.

Tenet Healthcare surged 5 percent following news that the health care services company plans to launch a new hospital venture with a private equity firm. The company's stock gained $2.45, or 5 percent, to $52.07.

Major markets in Europe ended mixed. Germany's DAX lost 1.2 percent and France's CAC 40 shed 0.7 percent. Britain's FTSE 100 picked up 0.2 percent.

Tokyo's Nikkei 225 finished with a gain of 1 percent. In China, the Shanghai Composite Index surged 2 percent, while Hong Kong's Hang Seng added 0.5 percent.

Back in the U.S., bond prices inched up, sending yields down. The yield on the 10-year Treasury note slipped to 1.91 percent from 1.93 percent late Friday.

In commodity trading, prices for precious and industrial metals climbed higher. Gold rose $3.10 to settle at $1,187.70 an ounce, while silver picked up a penny to $16.89 an ounce. Copper added 3 cents to $2.79.

The price of oil edged up amid signs that the growth in U.S. supply may be slowing. Benchmark U.S. crude rose 88 cents to close at $47.45 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, added 60 cents to close at $55.92 in London.

In other futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline rose 0.6 cent to close at $1.804 a gallon.

”” Heating oil fell 0.3 cent to close at $1.731 a gallon.

”” Natural gas fell 5.3 cents to close at $2.733 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-104.9	points or ▼	-0.58%	on	Tuesday, 24 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,011.14	▼	-104.90	▼	-0.58%		
	Nasdaq____	4,994.73	▼	-16.25	▼	-0.32%		
	S&P_500___	2,091.50	▼	-12.92	▼	-0.61%		
	30_Yr_Bond____	2.47	▼	-0.04	▼	-1.71%		

NYSE Volume	 3,190,437,500 	 	 	 	 	  		 
Nasdaq Volume	 1,580,164,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,019.68	▼	-17.99	▼	-0.26%		
	DAX_____	12,005.69	▲	109.85	▲	0.92%		
	CAC_40__	5,088.28	▲	33.76	▲	0.67%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,934.50	▲	13.50	▲	0.23%		
	Shanghai_Comp	3,691.41	▲	3.68	▲	0.10%		
	Taiwan_Weight	9,731.66	▼	-26.43	▼	-0.27%		
	Nikkei_225___	19,713.45	▼	-40.91	▼	-0.21%		
	Hang_Seng.__	24,399.60	▼	-94.91	▼	-0.39%		
	Strait_Times.__	3,414.60	▲	4.47	▲	0.13%		
	NZX_50_Index_	5,870.54	▼	-4.69	▼	-0.08%		

http://finance.yahoo.com/news/us-stocks-decline-investors-assess-205748229.html

*US stocks decline as investors assess economy, earnings

US stocks drop on economic and earnings news; Home builders gain on strong February sales*
Associated Press
By Steve Rothwell, AP Markets Writer 

NEW YORK (AP) -- U.S. stocks dropped Tuesday as investors weighed company news and the latest report on consumer prices.

Signs that the dollar could resume its recent surge also made investors nervous.

Homebuilders bucked the trend, gaining after sales of new U.S. homes in February climbed to their fastest pace in seven years.

The stock market has drifted lower for two straight days. The declines follow a rally in the market last week when Federal Reserve policy makers surprised investors by suggesting they were in no hurry to raise interest rates. Those low rates have helped power a six-year bull run for stocks.

"We're in something of a holding pattern as markets continue to digest all that's going on," said Kristina Hooper, U.S. investment strategist at Allianz Global Investors.

The Standard & Poor's 500 index fell 12.92 points, or 0.6 percent, to 2,091.50 Tuesday. The Dow slipped 104.90 points, or 0.6 percent, to 18,011.14. The Nasdaq composite fell 16.25 points, or 0.3 percent, to 4,994.73.

Stocks were little changed throughout the morning before drifting lower in the afternoon.

The slump in stocks coincided with a rally in the dollar. The U.S. currency had started the day lower against the euro before erasing those losses.

The dollar index, which measures the strength of the U.S. currency against a basket of others such as the euro and Japanese yen, has climbed 15 percent in the last six months.

That rise has already weighed on the earnings of companies such as Coca-Cola and Caterpillar that rely on overseas sales for a large portion of their earnings. S&P 500 companies start reporting results for the first quarter next month.

"The dollar overall is something that everyone is watching, everyone is nervous about it, with earnings season coming up," said JJ Kinahan, chief market strategist at TD Ameritrade.

In other economic news, a modest rebound in gas costs and broad gains in other categories lifted consumer prices for the first time in four months. The consumer price index rose 0.2 percent in February, the Labor Department said Tuesday, after dropping 0.7 percent the previous month.

Utilities declined the most of the 10 industry sectors in the S&P 500. They are the worst performing group in the index this year, falling 5.8 percent.

These stocks typically pay dividends that are high relative to their companies' share prices. They were in demand last year, when government bond yields fell, and investors wanted them for the level of income they were no longer able to get from bonds.

Now, they are less popular because many investors think that the Fed will raise interest rates later this year. That means that the yield on safer bonds should eventually rise, making utilities less attractive by comparison.

"Your real vulnerability is on the stock side," said Jeff Lancaster, a principal of San Francisco-based Bingham, Osborn & Scarborough. "You can lose more money in a day in stocks than you can in a bad year on bonds."

Among individual stocks, mining company Freeport-McMoRan Inc. fell after it said it would slash its quarterly dividend by 84 percent due to falling commodity prices The company's stock fell 15 cents, or 0.8 percent, to $19.18.

Home builders were among the gainers on Tuesday, after the Commerce Department said that new-home sales shot up 7.8 percent last month to a seasonally adjusted annual rate of 539,000, the strongest performance since February 2008.

PulteGroup rose 40 cents, or 2 percent, to $21.94. Beazer Homes climbed 36 cents, also 2 percent, to $17.57.

In energy trading, the price of U.S. crude rose slightly as traders anticipated the release of weekly supply information. Benchmark U.S. crude rose 6 cents to close at $47.51 a barrel in New York.

Brent crude, a benchmark for international oils used by many U.S. refineries, fell 81 cents to close at $55.11 in London. The price slipped on weak Chinese manufacturing data that suggested lower global demand.

Prices rose in government bond trading, pushing down the yield on the 10-year Treasury note to 1.87 percent from 1.91 percent late Monday.

The dollar gained against the euro and the Japanese yen. Against the euro, the U.S. currency traded at $1.0924, and against the yen it climbed to 119.72.

In metal trading, gold rose $3.70, or 0.3 percent, to $1,191.40 an ounce. Silver gained 9.2 cents, or 0.5 percent, to $16.98 an ounce. Copper climbed 1.4 cents, or 0.5 percent, to $2.83 per pound.

In other futures trading on the NYMEX, wholesale gasoline fell 0.4 cent to close at $1.800 a gallon. Heating oil fell 2.4 cents to close at $1.707 a gallon. Natural gas rose 5.3 cents to close at $2.786 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-292.6	points or ▼	-1.62%	on	Wednesday, 25 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,718.54	▼	-292.60	▼	-1.62%		
	Nasdaq____	4,876.52	▼	-118.21	▼	-2.37%		
	S&P_500___	2,061.05	▼	-30.45	▼	-1.46%		
	30_Yr_Bond____	2.50	▲	0.03	▲	1.42%		

NYSE Volume	 3,456,585,500 	 	 	 	 	  		 
Nasdaq Volume	 2,141,739,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,990.97	▼	-28.71	▼	-0.41%		
	DAX_____	11,865.32	▼	-140.37	▼	-1.17%		
	CAC_40__	5,020.99	▼	-67.29	▼	-1.32%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,937.10	▲	2.60	▲	0.04%		
	Shanghai_Comp	3,660.73	▼	-30.68	▼	-0.83%		
	Taiwan_Weight	9,667.83	▼	-63.83	▼	-0.66%		
	Nikkei_225___	19,746.20	▲	32.75	▲	0.17%		
	Hang_Seng.__	24,528.23	▲	128.63	▲	0.53%		
	Strait_Times.__	3,417.62	▲	4.36	▲	0.13%		
	NZX_50_Index_	5,857.78	▼	-12.76	▼	-0.22%		

http://finance.yahoo.com/news/us-market-indexes-slump-extending-201400813.html

*US market indexes slump, extending declines to a 3rd day

Dow, S&P 500 indexes extend a decline to a 3rd day; Kraft soars on news of Heinz acquisition*
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Investors dumped high-flying technology and biotech companies and sent the stock market down for a third straight day Wednesday.

Major indexes drifted lower in early trading, following news that orders for long-lasting U.S. goods sank last month. The selling gathered strength in the afternoon, with companies like Avago Technologies and Skyworks Solutions losing the most.

Peter Cardillo, chief market economist at Avalon Partners, a New York brokerage, said the market's fall was driven by big investors selling some of their winnings before the first quarter closes next week. The drop in factory orders also raised concerns that a slowdown in economic activity could continue.

"A weak first quarter could spill into the second quarter," Cardillo said, "and that probably leads to a poor earnings season."

The Standard & Poor's 500 index lost 30.45 points, or 1.5 percent, to 2,061.05. The Dow Jones industrial average fell 292.60 points, or 1.6 percent, to 17,718.54, while the Nasdaq composite fell 118.21 points, or 2.4 percent, to 4,876.52.

It was the worst day for stocks since March 10, when speculation over the Federal Reserve's plans to raise interest rates helped knock the S&P 500 down 1.7 percent.

Jack Ablin, chief investment officer at BMO Private Bank, said he thinks it's going to be tough for the market to sustain a strong run higher. Major indexes still trade near record highs reached at the start of the month, even though analysts expect earnings to shrink in the first half of the year. That makes the typical stock look pricey.

"We're going to have a difficult time continuing to make new highs if the underlying economy isn't following the direction of the market," he said. "At some point we're going to hit the intersection of reality and expectations."

Before the market opened on Wednesday, the Commerce Department reported that orders to U.S. factories for long-lasting manufactured goods fell in February for the third time in four months. Demand for commercial aircraft, cars and machinery waned.

"You can put this durables report into your Surprise Index as it missed market expectations," said Christopher Rupkey, chief financial economist at MUFG Union Bank, in a note to clients. "But more importantly it is another piece of data that shows the real GDP economy is running 2 percent and not 3 percent."

Among companies making big moves, H.J. Heinz and Kraft Foods announced plans to merge in a deal that would create one of the world's largest food companies. The merger was engineered by Heinz's owners, Warren Buffett's Berkshire Hathaway and Brazilian investment firm 3G Capital, and still needs a nod from federal regulators and Kraft shareholders. Kraft's stock shot up $21.85, or 36 percent, to $83.17.

Apollo Education Group turned in a quarterly loss as enrollment fell at its for-profit University of Phoenix. The company's stock plunged $7.95, or 28 percent, to $20.04.

Major indexes closed with losses across Europe. Germany's DAX dropped 1.2 percent and France's CAC 40 lost 1.3 percent. Britain's FTSE 100 sank 0.4 percent.

U.S. government bond prices fell, pushing the yield on the 10-year Treasury note up to 1.93 percent.

In the commodity markets, gold rose $5.60 to settle at $1,197 an ounce and silver inched up 2 cents to $17 an ounce. Copper slipped a penny to $2.79 a pound.

The price of U.S. crude rose amid concerns of spreading turmoil in the Middle East after Saudi Arabia reportedly began amassing troops near its border with strife-torn Yemen. Benchmark U.S. crude rose $1.70 to close at $49.21 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $1.37 a barrel to close at $56.48 a barrel in London.

In other trading on the New York Mercantile Exchange:

”” Wholesale gasoline rose 3.7 cents to close at $1.837 a gallon.

”” Heating oil rose 2.1 cents to close at $1.728 a gallon.

”” Natural gas fell 6.3 cents to close at $2.723 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-40.31	points or ▼	-0.23%	on	Thursday, 26 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,678.23	▼	-40.31	▼	-0.23%		
	Nasdaq____	4,863.36	▼	-13.16	▼	-0.27%		
	S&P_500___	2,056.15	▼	-4.90	▼	-0.24%		
	30_Yr_Bond____	2.60	▲	0.10	▲	3.96%		

NYSE Volume	 3,510,848,500 	 	 	 	 	  		 
Nasdaq Volume	 1,949,515,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,895.33	▼	-95.64	▼	-1.37%		
	DAX_____	11,843.68	▼	-21.64	▼	-0.18%		
	CAC_40__	5,006.35	▼	-14.64	▼	-0.29%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,849.70	▼	-87.40	▼	-1.47%		
	Shanghai_Comp	3,682.10	▲	21.37	▲	0.58%		
	Taiwan_Weight	9,619.12	▼	-48.71	▼	-0.50%		
	Nikkei_225___	19,471.12	▼	-275.08	▼	-1.39%		
	Hang_Seng.__	24,497.08	▼	-31.15	▼	-0.13%		
	Strait_Times.__	3,431.59	▲	12.57	▲	0.37%		
	NZX_50_Index_	5,833.17	▼	-24.61	▼	-0.42%		

http://finance.yahoo.com/news/us-stocks-fall-4th-straight-204825577.html

*US stocks fall for a 4th straight day; price of oil surges

US stocks fall for a 4th straight day; oil prices surge as conflict escalates in Yemen*
Associated Press
By Ken Sweet, AP Business Writer

NEW YORK (AP) -- A see-saw day for U.S. stocks ended with slight losses on Thursday, giving the market its fourth drop in a row.

Edgy investors continue to monitor violence in the Middle East and the rapid ascent of the U.S. dollar, which is causing companies to pull back their profit forecasts for the year.

After hitting record highs earlier this month, stocks have been steadily declining this week. Strategists and traders said the strong dollar, geopolitical tensions and a market that is already expensive have given investors little impetus to buy in recent days.

"We have been due for a pullback," said Brad Sorensen of the Schwab Center for Financial Research. "The markets have been focused on the Fed (potentially raising interest rates) and the impact of a stronger dollar."

The Dow Jones industrial average lost 40.31 points, or 0.2 percent, to 17,678.23. The Standard & Poor's 500 index lost 4.90 points, or 0.2 percent, to 2,056.15 and the Nasdaq composite fell 13.16 points, or 0.3 percent, to 4,863.36.

The market has fallen every day this week, bringing the S&P 500 index and the Dow down 2.5 percent each and erasing their gains for the year. The Nasdaq composite has dropped even more this week, 3.2 percent, as traders targeted high-flying biotech companies for heavy selling. The Nasdaq is still up 2.7 percent for the year.

Most of the action Thursday was in energy markets. The price of oil rose sharply as mounting tensions in Yemen got traders worried that the flow of crude from the Persian Gulf region could be disrupted. Saudi Arabia and other Gulf states launched strikes on military installations in Yemen in an effort to oust Shiite rebels that forced the country's embattled president to flee.

U.S. crude rose $2.22, or 4.5 percent, to close at $51.43 a barrel in New York. U.S. crude oil has jumped 17 percent since hitting a low of $43.96 a barrel a week ago. It was the first time the benchmark U.S. oil contract closed at $50 or higher since March 9.

Brent crude, a benchmark for international oils used by many U.S. refineries, rose $2.71, or 4.8 percent, to close at $59.19 a barrel in London.

"The conflict has the potential to act as a drag on oil supplies as most oil tankers from Arab producers must pass by the Yemen coastline in order to get through the Red Sea and Suez Canal," said Craig Erlam, senior market analyst at OANDA.

The rise in oil was not enough to lift battered energy stocks. The energy sector in the S&P 500 index ended the day down 0.2 percent.

For most investors, the main focus remains the U.S. dollar. The U.S. currency has appreciated 8 percent in the past three months. A stronger dollar tends to make U.S.-made goods more expensive abroad, making it more difficult for U.S. companies to compete.

"The dollar is going to be a drag on company earnings, at least temporarily," said Stephen Freedman, a strategist at UBS Wealth Management Research.

On Thursday, the euro fell to $1.0885 against the dollar, while the dollar declined to 119.18 Japanese yen.

The full impact of the dollar's appreciation will likely be seen early next month, when U.S. companies start reporting their quarterly results. Already some, like the jewelry maker Tiffany, have said the higher dollar has crimped profits.

Alcoa, the aluminum company, will issue its results April 8.

In the bond market, prices for U.S. government bonds fell. The yield on the 10-year Treasury note rose to an even 2 percent from 1.93 percent the day before.

In metals trading, gold rose $7.80 to $1,204.80 an ounce, silver rose 14 cents to $17.14 an ounce and copper rose two cents to $2.81 a pound.

Wholesale gasoline rose 4.5 cents to close at $1.882 a gallon. Heating oil rose 5.9 cents to close at $1.788 a gallon. Natural gas fell 5.1 cents to close at $2.672 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	34.43	points or ▲	0.19%	on	Friday, 27 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,712.66	▲	34.43	▲	0.19%		
	Nasdaq____	4,891.22	▲	27.86	▲	0.57%		
	S&P_500___	2,061.02	▲	4.87	▲	0.24%		
	30_Yr_Bond____	2.53	▼	-0.07	▼	-2.81%		

NYSE Volume	 2,977,894,250 	 	 	 	 	  		 
Nasdaq Volume	 1,652,377,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,855.02	▼	-40.31	▼	-0.58%		
	DAX_____	11,868.33	▲	24.65	▲	0.21%		
	CAC_40__	5,034.06	▲	27.71	▲	0.55%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,888.90	▲	39.20	▲	0.67%		
	Shanghai_Comp	3,691.10	▲	9.00	▲	0.24%		
	Taiwan_Weight	9,503.72	▼	-115.40	▼	-1.20%		
	Nikkei_225___	19,285.63	▼	-185.49	▼	-0.95%		
	Hang_Seng.__	24,486.20	▼	-10.88	▼	-0.04%		
	Strait_Times.__	3,450.10	▲	18.51	▲	0.54%		
	NZX_50_Index_	5,854.25	▲	21.08	▲	0.36%		

http://finance.yahoo.com/news/stocks-close-slight-gains-still-203046008.html

*Stocks close with slight gains, but still end the week lower

US stocks edge higher after a tough week; oil slumps after a sharp gain the day before*
Associated Press
By Ken Sweet, AP Business Writer

NEW YORK (AP) -- A tough week on the stock market ended quietly Friday.

Major indexes notched modest gains, not nearly enough to make up for the four previous days of losses. It wound up being the second-worst week for the market so far this year.

The Dow Jones industrial average remains down slightly for 2015, and the Standard & Poor's 500 index is essentially flat.

There was no one major catalyst to move the market one way or another Friday. Biotechnology stocks, battered over the last week, were among the top gainers, while energy stocks lagged as the price of oil fell.

The Dow Jones industrial average rose 34.43 points, or 0.2 percent, to 17,712.66. The S&P 500 rose 4.87 points, or 0.2 percent, to 2,061.02 and the Nasdaq composite rose 27.86 points, or 0.6 percent, to 4,891.22.

Stocks fell most of the week due to a combination of weaker-than-expected economic data and concerns that the rapid rise of the dollar may crimp U.S. corporate earnings. Companies start releasing their first-quarter results next month.

The biggest sell-off came on Wednesday, when a report showed orders at U.S. factories for long-lasting manufactured goods fell in February, the latest disappointing data suggesting the U.S. economy has hit a soft patch. The Dow plunged nearly 300 points that day.

The question is whether the U.S. economy is really slowing down or whether the phenomenon can be blamed on the nasty winter weather. In addition to first-quarter earnings reports, investors will also be watching the Labor Department's monthly job markets survey, due out April 3, for insight into how the economy is doing.

"I'm trying to be as forward-looking as possible here. Clearly the weather had some sort of impact this quarter, but I still believe U.S. economic growth is strong," said Scott Wren, a global equity strategist at Wells Fargo Advisors.

The turmoil in Yemen has caused heightened volatility in oil markets this week as well. The tensions have erupted into a regional conflict, with Saudi Arabia and its allies bombing Shiite rebels allied with Iran, while Egyptian officials said a ground assault will follow the airstrikes. Iran denounced the Saudi-led air campaign, calling it "a dangerous step."

While the price of U.S. crude fell sharply Friday, it still finished much higher for week, up more than 10 percent. It was the biggest weekly gain for oil since March 2009.

Benchmark U.S. crude fell 5 percent, or $2.56, to close at $48.87 a barrel in New York. U.S. crude finished last week at $45.72. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 7 cents to close at $56.41 in London.

In other futures trading on the NYMEX:

— Wholesale gasoline fell 8.4 cents to close at $1.798 a gallon.

— Heating oil fell 5.8 cents to close at $1.728 a gallon.

— Natural gas fell 8.2 cents to close at $2.590 per 1,000 cubic feet.

Prices for U.S. government bonds rose. The yield on the 10-year Treasury fell to 1.96 percent from 1.99 percent late Thursday.

In the metals market, gold fell $5 to $1,299.80 an ounce, silver fell seven cents to $17.07 an ounce and copper fell four cents to $2.77 an ounce.

9794


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	263.65	points or ▲	1.49%	on	Monday, 30 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,976.31	▲	263.65	▲	1.49%		
	Nasdaq____	4,947.44	▲	56.22	▲	1.15%		
	S&P_500___	2,086.24	▲	25.22	▲	1.22%		
	30_Yr_Bond____	2.56	▲	0.03	▲	1.15%		

NYSE Volume	 2,917,815,500 	 	 	 	 	  		 
Nasdaq Volume	 1,750,127,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,891.43	▲	36.41	▲	0.53%		
	DAX_____	12,086.01	▲	217.68	▲	1.83%		
	CAC_40__	5,083.52	▲	49.46	▲	0.98%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,816.30	▼	-72.60	▼	-1.23%		
	Shanghai_Comp	3,786.57	▲	95.47	▲	2.59%		
	Taiwan_Weight	9,521.87	▲	18.15	▲	0.19%		
	Nikkei_225___	19,411.40	▲	125.77	▲	0.65%		
	Hang_Seng.__	24,855.12	▲	368.92	▲	1.51%		
	Strait_Times.__	3,454.26	▲	4.16	▲	0.12%		
	NZX_50_Index_	5,821.29	▼	-32.96	▼	-0.56%		

http://finance.yahoo.com/news/stocks-gain-encouraging-signs-spending-200924713.html

*Stocks gain on encouraging signs in spending and home sales

US market indexes close higher following encouraging reports on US home sales and spending*
Associated Press
By Alex Veiga, AP Business Writer 

Encouraging U.S. economic data and a batch of corporate deals put investors in a buying mood Monday, sending stocks sharply higher.

The broad rally nudged the Dow Jones industrial average back into positive territory for the year after a rough stretch for the market most of last week.

Traders welcomed a government report showing that consumer spending and incomes rose in February. Another report hinted at strong start to the spring buying season.

Energy stocks were among the biggest gainers, bucking a slide in the price of crude oil. Several drugmakers soared on merger news.

"You had all the elements today for a positive market," said Quincy Krosby, market strategist for Prudential Financial.

The Dow rose 263.65 points, or 1.5 percent, to 17,976.31. The 30-company index was up as much as 295 points. It's now up 0.9 percent for the year.

The Standard & Poor's 500 index rose 25.22 points, or 1.2 percent, to 2,086.24, while the Nasdaq composite gained 56.22 points, or 1.2 percent, to 4,947.44. Both indexes are also up for the year.

Investors have their eye on economic data as they look ahead to the next round of corporate earnings, beginning next week. While a clutch of weaker-than-expected data sent the market lower much of last week, positive economic news got Monday's rally going early.

In Europe, a survey from the European Commission showed that economic sentiment across the 19-country eurozone was at its highest level since July 2011. In Asia, Chinese stocks soared on hopes of more economic stimulus.

In the U.S., the government said that consumer spending edged up 0.1 percent in February following two straight monthly declines, while consumers' incomes rose a solid 0.4 percent. The National Association of Realtors reported that its index of pending home sales rose to its highest level since June 2013.

"Today's data suggest that the economy is going to be stronger in the next quarter starting in April," Krosby said.

Expectations that any increase in the Federal Reserve's key interest rate this year will be gradual also helped lift the market. On Friday, Federal Reserve Chair Janet Yellen said in a speech that continued improvement in the U.S. economy means an increase in the Fed's key interest rate could come later this year, but would likely be gradual.

"The market takes some confidence in that," said Erik Davidson, chief investment officer for Wells Fargo Private Bank.

All told, the 10 sectors in the S&P 500 rose, with energy stocks notching the biggest gain. The sector rose 2.1 percent. It's still down 2.7 percent for the year. Analog Devices led all stocks in the S&P 500, climbing $5.97, or 10.2 percent, to $64.81.

Investors bid up several health care companies and drugmakers involved in deals.

UnitedHealth Group jumped 2.5 percent after the insurer agreed to buy pharmacy benefits manager Catamaran. Shares in UnitedHealth Group added $2.99 to $121. Catamaran vaulted 23.8 percent, adding $11.51 to $59.83.

Auspex Pharmaceuticals soared 41.5 percent after it agreed to be acquired by Teva Pharmaceuticals Industries for about $3.2 billion in cash. Auspex gained $29.45 to $100.36.

Horizon Pharma climbed 18.2 percent on news it is buying Hyperion Therapeutics for $1.1 billion. Horizon gained $3.97 to $25.78. Hyperion added $3.24, or 7.6 percent, to $45.98.

The price of oil fell slightly ahead of Tuesday's deadline for negotiators to reach a general agreement to curb Iran's nuclear program in exchange for an easing of sanctions.

If it appears that more Iranian crude could eventually come on the market, prices could fall. U.S. oil fell 19 cents to $48.68 a barrel. Brent crude, a benchmark for many international oils imported by U.S. refineries, slipped 12 cents to $56.29 a barrel.

In other futures trading:

”” Wholesale gasoline was unchanged at $1.80 a gallon

”” Heating oil was unchanged at $1.73 a gallon

”” Natural gas rose 0.5 cent to $2.644 per 1,000 cubic feet

Precious and industrial metals futures closed mixed. Gold fell $15 to $1,184.80 an ounce, silver fell 40 cents to $16.67 an ounce and copper edged up a penny to $2.78 a pound.

U.S. government bond prices rose. The yield on the 10-year Treasury note edged down to 1.96 percent from 1.97 percent late Friday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-200.19	points or ▼	-1.11%	on	Tuesday, 31 March 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,776.12	▼	-200.19	▼	-1.11%		
	Nasdaq____	4,900.88	▼	-46.56	▼	-0.94%		
	S&P_500___	2,067.89	▼	-18.35	▼	-0.88%		
	30_Yr_Bond____	2.54	▼	-0.01	▼	-0.47%		

NYSE Volume	 3,351,032,500 	 	 	 	 	  		 
Nasdaq Volume	 1,807,052,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,773.04	▼	-118.39	▼	-1.72%		
	DAX_____	11,966.17	▼	-119.84	▼	-0.99%		
	CAC_40__	5,033.64	▼	-49.88	▼	-0.98%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,861.90	▲	45.60	▲	0.78%		
	Shanghai_Comp	3,747.90	▼	-38.67	▼	-1.02%		
	Taiwan_Weight	9,586.44	▲	64.57	▲	0.68%		
	Nikkei_225___	19,206.99	▼	-204.41	▼	-1.05%		
	Hang_Seng.__	24,900.89	▲	45.77	▲	0.18%		
	Strait_Times.__	3,447.01	▼	-7.25	▼	-0.21%		
	NZX_50_Index_	5,833.98	▲	12.70	▲	0.22%		

http://finance.yahoo.com/news/slide-stocks-erases-much-previous-201531873.html

*Late slide in stocks erases much of the previous day's gain

US stocks indexes end lower as traders do some end-of-quarter profit-taking, portfolio pruning*
Associated Press
By Alex Veiga, AP Business Writer

The stock market closed out the first three months of the year Tuesday on a down note, erasing much of the gains from the prior day's big rally.

The Dow Jones industrial average slumped 200 points, knocking the blue chip index slightly lower for the year. The Standard & Poor's 500 index ended the quarter with a meager gain of half a percent.

The broad decline came as traders seized on the final day of the quarter to do some profit-taking and prune their portfolios. Health care stocks were among the biggest decliners. Oil prices extended their slide.

"It's the end of the quarter," said Anwiti Bahuguna, senior portfolio manager at Columbia Threadneedle Investments. "Today the markets are probably driven by that quite a bit, because people are rebalancing their portfolios."

The Dow fell 200.19 points, or 1.1 percent, to 17,776.12. The 30-company index was down as much as 203 points. It's now down 0.3 percent for the year.

The S&P 500 index slid 18.35 points, or 0.9 percent, to 2,067.89. The index is now up 0.4 percent for the year. The Nasdaq composite lost 46.56 points, or 0.9 percent, to 4,900.88. The tech-heavy index ended the quarter up 3.5 percent.

Traders often look to close out positions to make their books look as healthy as possible at the end of a quarter.

Other factors also contributed to the stepped-up selling on Tuesday.

"There's also rising concern about oil prices, especially as the U.S. gets closer to a deal with Iran," said Paul Christopher, head of international strategy at the Wells Fargo Investment Institute. "There's some speculation that Iran will be able to release a lot of oil into the world."

That could stoke fears of deflation, which can hurt corporate profits, he added.

The price of oil fell Tuesday as talks between the U.S. and Iran progressed somewhat, which could lead to more crude on the global market in the coming months.

Benchmark U.S. crude fell $1.08 to close at $47.60 a barrel in New York. Oil finished down $2.16, or 4.3 percent, for the month. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.18 to close at $55.11 in London.

The major stock indexes' anemic quarterly performance reflects lowered investor expectations for corporate earnings due to concerns over the impact falling oil prices and a strong dollar may have on big companies.

"It's a pretty weak start for the S&P 500 because the market is pricing the very sharp decline in earnings that has been coming through the entire quarter," Bahuguna said.

Companies will begin reporting financial results for the first three months of the year next week. Earnings for companies in the S&P 500 index are expected to be down 3 percent overall, according to S&P Capital IQ.

Investors are monitoring economic data for clues about how earnings will unfold.

On Tuesday, they got a dash of encouraging data.

The Conference Board said its consumer confidence index rose to 101.3 in March from revised 98.8 reading in February. The index reflects a pickup in hiring and suggests more consumer spending ahead. Separately, Standard & Poor's/Case-Shiller said home prices increased in January.

The market opened lower on Tuesday and stayed in the red the rest of the day.

All 10 sectors in the S&P 500 ended lower. Health care stocks led the decline, falling 1.5 percent. The sector is still up 6.2 percent for the year. Celgene notched the biggest decline in the S&P 500. Its shares fell $4.74, or 4 percent, to $115.28.

U.S. government bond prices rose. The yield on the 10-year Treasury note slipped to 1.92 percent from 1.95 percent late Monday.

In metals trading, gold fell $1.70 to $1,183.10 an ounce, silver fell eight cents to $16.60 an ounce and copper fell four cents to $2.74 a pound.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 2.1 cents to close at $1.780 a gallon.

”” Heating oil fell 1.3 cents to close at $1.718 a gallon.

”” Natural gas fell 0.4 cents to close at $2.640 per 1,000 cubic feet.

Among other stocks making big moves Tuesday:

”” Synta Pharmaceuticals tumbled 16.7 percent after the biotechnology company priced a public offering of 22 million shares below the prior day's closing price. The stock shed 39 cents to $1.94.

”” Shares in Charter Communications jumped 5.3 percent on news the company has agreed to buy fellow cable operator Bright House Networks in a deal valued at $10.4 billion. Charter added $9.72 to $193.11.

”” Movado Group surged 11.3 percent after the luxury watch maker reported better-than-expected fourth-quarter profit and raised its quarterly dividend by 10 percent. The stock gained $2.89 to $28.52.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-77.94	points or ▼	-0.44%	on	Wednesday, 1 April 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,698.18	▼	-77.94	▼	-0.44%		
	Nasdaq____	4,880.23	▼	-20.66	▼	-0.42%		
	S&P_500___	2,059.69	▼	-8.20	▼	-0.40%		
	30_Yr_Bond____	2.47	▼	-0.07	▼	-2.71%		

NYSE Volume	 3,566,501,000 	 	 	 	 	  		 
Nasdaq Volume	 1,836,582,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,809.50	▲	36.46	▲	0.54%		
	DAX_____	12,001.38	▲	35.21	▲	0.29%		
	CAC_40__	5,062.22	▲	28.58	▲	0.57%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,832.90	▼	-29.00	▼	-0.49%		
	Shanghai_Comp	3,810.29	▲	62.40	▲	1.66%		
	Taiwan_Weight	9,507.66	▼	-78.78	▼	-0.82%		
	Nikkei_225___	19,034.84	▼	-172.15	▼	-0.90%		
	Hang_Seng.__	25,082.75	▲	181.86	▲	0.73%		
	Strait_Times.__	3,447.02	▲	0.01	▲	0.00%		
	NZX_50_Index_	5,835.58	▲	1.60	▲	0.03%		

http://finance.yahoo.com/news/us-stocks-ease-second-day-210447866.html

*US stocks ease for second day; price of crude oil soars

US stocks close modestly lower as jobs, manufacturing data disappoint; crude oil price soars*
Associated Press
By Alex Veiga, AP Business Writer

A batch of discouraging economic news deepened investors' concerns about corporate earnings, pulling major U.S. stock indexes down on Wednesday for the second day in a row.

The modest slide cut the Standard & Poor's 500 index's gain for the year to less than one-tenth of a percent. Oil prices surged above $50 a barrel on signs that U.S. production growth is slowing.

Payroll processor ADP said U.S. companies added fewer jobs last month than economists had expected, while an index of manufacturing activity declined for the fifth month in a row. In addition, the government said U.S. construction spending fell in February.

"The data show we definitely hit a bit of a slowdown in the first quarter, and now investors are getting worried about the upcoming earnings reports," said Chris Gaffney, a senior market strategist at EverBank Wealth Management.

Many of the stocks that fell the most on Wednesday were also some of the biggest gainers during the first three months of the year. The health care sector notched the biggest decline in the S&P 500. Even so, it's up 4.8 percent this year, leading the nine other sectors in the index.

"We've had a long, good run by the equity markets and, at times, investors look for opportunities to maybe take some gains off the table," Gaffney said.

The Dow Jones industrial average fell 77.94 points, or 0.4 percent, to 17,698.18. The 30-company index was down as much as 191 points. It's down 0.7 percent for the year.

The S&P 500 index slid 8.16 points, or 0.4 percent, to 2,059.69. The index is now up 0.04 percent for the year.

The Nasdaq composite lost 20.66 points, or 0.4 percent, to 4,880.23. The tech-heavy index ended is up about 3 percent this year.

Half of the 10 sectors in the S&P 500 fell. Telecommunications services led among the gainers, rising 0.8 percent.

Macerich fell the most in the index, sliding $5.60, or 6.6 percent, to $78.73. The company slumped after rival Simon Property Group called off its hostile $16.8 billion takeover bid for the shopping mall operator.

Investors have been weighing mixed economic data this week in advance of the next round of corporate earnings, which begins next week.

On Tuesday, they got a dash of encouraging data on consumer confidence, spending and home prices. But Wednesday's slate clouded the economic picture.

ADP said U.S. companies added a seasonally adjusted 189,000 jobs last month. That was below market expectations for an increase of around 250,000. Also, the Institute for Supply Management's U.S. manufacturing index slipped in March, reflecting slower growth in factory orders. U.S. construction spending declined in February for the second month in a row.

It's likely the weak ADP jobs report prompted some traders to make moves on Wednesday in anticipation that the government's March payroll employment tally will also be discouraging. That report is due out Friday, but U.S. markets will be closed for the Good Friday holiday.

Earnings for companies in the S&P 500 index are expected to be down 3.1 percent overall, according to S&P Capital IQ. Investors have reduced expectations for corporate earnings due to concerns over the impact falling oil prices and a strong dollar may have on big companies. The dollar has strengthened by about 9 percent so far this year.

"We think the second quarter probably won't look very good as well," said James Liu, Global Market Strategist for J.P. Morgan Asset Management. "The hope is that by the third and fourth quarters, these two big effects with the U.S. dollar and oil will have stabilized, and so you'll see a bounce back in earnings at that point."

The price of oil rose sharply Wednesday on signs that U.S. production growth is slowing, a weaker dollar that makes oil a more attractive investment to overseas buyers, and anticipation that a delay in talks with Iran over its nuclear program could keep Iranian oil off the world market.

Benchmark U.S. crude rose $2.49 to close at $50.09 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.99 to close at $57.10 in London.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 1.86 percent from 1.93 percent late Tuesday.

In metals trading, gold rose $25 to $1,208.10 an ounce, silver rose 46 cents to $17.06 an ounce and copper edged down less than a penny to $2.75 a pound.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 6.1 cents to close at $1.831 a gallon.

”” Heating oil rose 3.9 cents to close at $1.747 a gallon.

”” Natural gas fell 3.5 cents to close at $2.605 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	65.06	points or ▲	0.37%	on	Thursday, 2 April 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,763.24	▲	65.06	▲	0.37%		
	Nasdaq____	4,886.94	▲	6.71	▲	0.14%		
	S&P_500___	2,066.96	▲	7.27	▲	0.35%		
	30_Yr_Bond____	2.52	▲	0.05	▲	1.98%		

NYSE Volume	 3,099,223,500 	 	 	 	 	  		 
Nasdaq Volume	 1,539,022,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,833.46	▲	23.96	▲	0.35%		
	DAX_____	11,967.39	▼	-33.99	▼	-0.28%		
	CAC_40__	5,074.14	▲	11.92	▲	0.24%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,869.70	▲	36.80	▲	0.63%		
	Shanghai_Comp	3,863.93	▲	38.15	▲	1.00%		
	Taiwan_Weight	9,600.32	▲	92.66	▲	0.97%		
	Nikkei_225___	19,435.08	▲	122.29	▲	0.63%		
	Hang_Seng.__	25,275.64	▲	192.89	▲	0.77%		
	Strait_Times.__	3,453.75	▲	6.73	▲	0.20%		
	NZX_50_Index_	5,831.40	▼	-4.19	▼	-0.07%		

https://au.finance.yahoo.com/news/u...;_ylg=X3oDMTBhczE4NW9pBGxhbmcDZW4tQVU-;_ylv=3

*US stocks edge higher after 2 days of losses

US stocks close slightly higher after a 2 days of declines; CarMax jumps on higher profit*
By Alex Veiga, AP Business Writer 

Major U.S. stock indexes closed slightly higher on Thursday, rebounding from a two-day slide as investors looked ahead to the start of the next round of corporate earnings beginning next week.

Traders drew encouragement from the latest economic data, particularly a government report indicating a steep drop in applications for unemployment benefits last week. That appeared to reassure investors that the government will report solid job growth for March.

"There is a little bit of an expectation that the jobs number will come in good," said JJ Kinahan, TD Ameritrade's chief strategist. That report is due out Friday, when markets will be closed for Good Friday.

Consumer discretionary stocks were among the biggest risers. The price of oil fell back below $50 a barrel after the U.S., five other world powers and Iran reached an agreement that could soon lift sanctions on Iran and allow the country to export more crude.

The Dow Jones industrial average gained 65.06 points, or 0.4 percent, to 17,763.24. The 30-company index is down 0.3 percent for the year.

The S&P 500 index rose 7.27 points, or 0.4 percent, to 2,066.96. The index is now up 0.4 percent for the year.

The Nasdaq composite added 6.71 points, or 0.1 percent, to 4,886.94. The tech-heavy index ended is up about 3.2 percent this year.

Trading got off to a turbulent start. Major indexes briefly turned lower at midday before moving higher, a trend that held the rest of the day.

Investors have been weighing mixed economic data as they try to gauge how corporate earnings will unfold in coming weeks.

Earlier in the week, they got a dash of positive data on consumer confidence, spending and home prices, but also discouraging reports on hiring, construction spending and manufacturing.

Thursday's economic data gave investors more reasons to be optimistic.

The Labor Department said applications for unemployment benefits fell sharply last week to a seasonally adjusted 268,000. The decrease is a sign of a strong job market despite evidence of tepid economic growth in the opening months of 2015.

The four-week trend continues to go in the right direction, noted Tim Dreiling, senior portfolio manager at U.S. Bank Wealth Management.

New data on U.S. factory orders also helped lift the market. The Commerce Department said orders edged up 0.2 percent in February, breaking a six-month losing streak. Excluding volatile transportation orders, factory orders rose 0.8 percent, the most since June.

Meanwhile, the Commerce Department said that the nation's trade deficit plunged 16.9 percent to $35.4 billion in February.

Financial analysts anticipate the Labor Department will report Friday that employers added 248,000 jobs last month, according to FactSet. Employers added 295,000 jobs in February.

Earnings for companies in the S&P 500 index are expected to be down 3 percent overall, according to S&P Capital IQ. That would be the first decline in quarterly earnings since the third quarter of 2009, the firm said.

Investors have reduced their expectations for corporate earnings due to concerns over the impact that falling oil prices and a strong dollar may have on big companies.

All told, nine of the 10 sectors in the S&P 500 rose, led by consumer discretionary stocks. The sector also leads the index for the year with a gain of 4.8 percent.

CarMax climbed 9.3 percent after the dealership operator said that its profit rose sharply in the latest quarter as purchases of used vehicles increased. The stock climbed the most out of all the stocks in the S&P 500 index, adding $6.34 to $74.73.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 1.91 percent from 1.86 percent late Wednesday.

The slide in crude oil deepened. Benchmark U.S. crude fell 95 cents to close at $49.14 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $2.15 to close at $54.95 in London.

In other futures trading on the NYMEX, wholesale gasoline fell 7 cents to close at $1.761 a gallon, while heating oil fell 6.4 cents to close at $1.683 a gallon. Natural gas rose 10.8 cents to close at $2.713 per 1,000 cubic feet.

In metals trading, gold fell $7.30 to $1,200.90 an ounce, silver fell 36 cents to $16.70 an ounce and copper edged down a penny to $2.73 a pound.

Among stocks making big moves Thursday:

— Sequential Brands Group surged 12.6 percent on news that the brand management and licensing company will buy a majority stake in Jessica Simpson's clothing, apparel and accessories brand. The stock rose $1.34 to $12.01.

— Repros Therapeutics climbed 4.6 percent after the company said that the Food and Drug Administration accepted its application seeking approval for a testosterone drug. Repros added 39 cents to $8.88.

0418


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	117.61	points or ▲	0.66%	on	Monday, 6 April 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,880.85	▲	117.61	▲	0.66%		
	Nasdaq____	4,917.32	▲	30.38	▲	0.62%		
	S&P_500___	2,080.62	▲	13.66	▲	0.66%		
	30_Yr_Bond____	2.57	▲	0.04	▲	1.66%		

NYSE Volume	 3,286,187,000 	 	 	 	 	  		 
Nasdaq Volume	 1,702,340,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,833.46	▲	23.96	▲	0.35%		HOLIDAY
	DAX_____	11,967.39	▼	-33.99	▼	-0.28%	HOLIDAY	
	CAC_40__	5,074.14	▲	11.92	▲	0.24%		HOLIDAY

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,869.70	▲	36.80	▲	0.63%		HOLIDAY
	Shanghai_Comp	3,863.93	▲	38.15	▲	1.00%		HOLIDAY
	Taiwan_Weight	9,600.32	▲	92.66	▲	0.97%		HOLIDAY
	Nikkei_225___	19,397.98	▼	-37.10	▼	-0.19%		
	Hang_Seng.__	25,275.64	▲	192.89	▲	0.77%	HOLIDAY	
	Strait_Times.__	3,452.91	▼	-0.84	▼	-0.02%		
	NZX_50_Index_	5,831.40	▼	-4.19	▼	-0.07%		HOLIDAY

http://finance.yahoo.com/news/us-stock-indexes-gain-quiet-153441823.html

*US stock indexes gain in quiet trading; oil price surges

US stock indexes move higher in quiet trading; energy shares gain as price of crude oil surges*
Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Expectations that the Federal Reserve will be slow to raise interest rates following a weak jobs report last week helped send the stock market up on Monday. A jump in the price of crude oil set off a rally in energy stocks.

The stock market was closed Friday when the Labor Department reported that employers added just 126,000 workers to their payrolls in March, the smallest increase since December 2013. It was another sign of weaker economic growth in the winter months and added more pressure on the Federal Reserve to put off raising rates from near zero. Historically low rates have helped stocks soar over the past six years.

David Lefkowitz, senior equity strategist at UBS, said calming words from William Dudley, president of the Fed's New York branch, gave investors encouragement. In a speech Monday morning, Dudley pointed to the recent shaky economic news and said he expects the Fed's rate increases would be "shallow."

"If Fed officials think the economy is not strong enough, they're not going to do anything to jeopardize the economic recovery," Lefkowitz said. "With inflation low and well-contained the Fed can be patient. There's nothing forcing their hand."

The Standard & Poor's 500 index gained 13.66 points, or 0.7 percent, to close at 2,080.62. The Dow Jones industrial average rose 117.61 points, or 0.7 percent, to 17,880.85, and the Nasdaq composite rose 30.38 points, or 0.6 percent, to 4,917.32.

"Had the market been open on Friday, we would have probably had a triple-digit decline in the Dow," said Hank Smith, chief investment officer at Harverford Trust. "The fact that we had a weekend to digest put it in perspective."

Smith said he thought the economy was tracing a route laid out in previous years when rough winters gave way to stronger springs. "This is deja vu," he said. "There was no polar vortex, like last year, but you clearly had weather in New England that was much more severe than last year."

The Institute for Supply Management reported Monday that companies in the service industry expanded at a slightly slower pace in March. The ISM services index slipped to 56.5 last month, from 56.9 in February. Any reading above 50 reflects growth.

Benchmark U.S. crude jumped an even $3, or 6 percent, to close at $52.14 a barrel on the New York Mercantile Exchange. That set off a rally in energy-sector stocks. Transocean, an operator of drilling rigs, soared $1.52, or 10 percent, to $16.51.

Major markets in Europe were closed for Easter Monday. In Asia, Japan's Nikkei 225 closed with a loss of 0.2 percent, while Seoul's Kospi gained 0.1 percent. India's SENSEX surged 0.9 percent. Stock exchanges in Australia and China were also closed.

Back in the U.S., Ventas announced plans to buy Ardent Medical Services, a privately owned hospital chain, for $1.75 billion and spin off most of its skilled nursing facilities. Ventas, an investment trust focused on health care, surged $3.67, or 5 percent, to $76.90.

Government bond prices fell, driving the yield on the 10-year Treasury note up to 1.90 percent.

In commodity trading, prices for most precious and industrial metals continued their recent climb. Gold gained $17.70 to settle at $1,218.60 an ounce, while silver rose 41 cents to $17.11 an ounce. Copper slipped 2 cents to $2.72.

Brent crude oil, the international benchmark used by many U.S. refineries, rose $3.17, or 6 percent, to $58.12 a barrel on the ICE exchange in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 8.1 cents to close at $1.843 a gallon.

”” Heating oil rose 8.2 cents to close at $1.764 a gallon.

”” Natural gas fell 6.3 cents to close at $2.650 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-5.43	points or ▼	-0.03%	on	Tuesday, 7 April 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,875.42	▼	-5.43	▼	-0.03%		
	Nasdaq____	4,910.23	▼	-7.08	▼	-0.14%		
	S&P_500___	2,076.33	▼	-4.29	▼	-0.21%		
	30_Yr_Bond____	2.53	▼	-0.04	▼	-1.40%		

NYSE Volume	 3,065,618,250 	 	 	 	 	  		 
Nasdaq Volume	 1,550,275,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,961.77	▲	128.31	▲	1.88%		
	DAX_____	12,123.52	▲	156.13	▲	1.30%		
	CAC_40__	5,151.19	▲	77.05	▲	1.52%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,893.20	▲	23.50	▲	0.40%		
	Shanghai_Comp	3,961.38	▲	97.45	▲	2.52%		
	Taiwan_Weight	9,641.90	▲	41.58	▲	0.43%		
	Nikkei_225___	19,640.54	▲	242.56	▲	1.25%		
	Hang_Seng.__	25,275.64	▲	192.89	▲	0.77%		
	Strait_Times.__	3,465.62	▲	12.71	▲	0.37%		
	NZX_50_Index_	5,855.44	▲	24.04	▲	0.41%		

http://finance.yahoo.com/news/us-stocks-end-lower-following-202933412.html

*US stocks end lower following late-day sell-off; oil gains

US stocks fall slightly as indexes retreat in a late-day sell-off; price of crude oil gains*
Associated Press By Ken Sweet and Matthew Craft, AP Business Writers

NEW YORK (AP) -- U.S. stocks fell Tuesday as an early advance fizzled in the last hour of trading.

Energy stocks rose with the price of oil while consumer discretionary stocks were among the biggest decliners. Utility stocks also dragged down the major indices.

The Dow Jones industrial average lost 5.43 points, or 0.03 percent, to 17,875.42. The Standard & Poor's 500 index fell 4.29 points, or 0.2 percent, to 2,076.33. The Nasdaq composite lost 7.08 points, or 0.1 percent, to 4,910.23.

Stocks were modestly higher most of the day but sank right before the close. The Dow Jones utility index, an index representing 15 of the nation's largest utility companies, fell 1 percent.

Many traders spent the day focusing on the upcoming earnings season. Earnings season officially starts Wednesday with Alcoa, which reports its results after the closing bell.

Bad news from Alcoa, and other companies, could make for turbulent trading.

Analysts have put the bar for first-quarter profits very low, a result of the stronger dollar and low oil prices squeezing revenues. They expect overall earnings to shrink 3 percent compared with the same quarter of last year, according to S&P Capital IQ. If those forecasts come true, it would be the first earnings drop since 2009

"Equities are trading near all-time highs while earnings expectations get set lower," Terry Sandven, senior equity strategist at U.S. Bank Wealth Management. "That's just not sustainable."

Investors also had two deals to work through Tuesday.

FedEx said it reached an agreement to take over TNT Express, one of Europe's largest delivery companies, for 4.4 billion euros, or $4.8 billion. If shareholders approve it, the companies expect to wrap up the deal in the first half of 2016. FedEx's stock surged $4.49, or 3 percent, to $171.16.

Warren Buffett's Berkshire Hathaway plans to take a nearly 10 percent stake in Axalta Coating Systems, which makes specialized coatings for cars and trucks. Berkshire is buying 20 million shares for $28 from The Carlyle Group, a private equity firm. Axalta, which went public in November, jumped $2.78, or 10 percent, to $31.11.

Oil prices rose on Tuesday. U.S. crude increased $1.84, or 3.5 percent, to close at $53.98 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 98 cents, or 1.7 percent, to close at $58.10 a barrel in London.

U.S. government bond prices rose slightly. The yield on the 10-year Treasury note fell to 1.88 percent from 1.90 percent on Monday

In the metals markets, gold fell $8 to settle at $1,210.60 an ounce, while silver slipped 27 cents to $16.84 an ounce. Copper rose 5 cents to $2.76 a pound.

In other energy futures trading on the NYMEX:

”” Wholesale gasoline rose 1.8 cents to close at $1.861 a gallon.

”” Heating oil rose 2 cents to close at $1.784 a gallon.

”” Natural gas rose 3 cents to close at $2.680 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	27.09	points or ▲	0.15%	on	Wednesday, 8 April 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,902.51	▲	27.09	▲	0.15%		
	Nasdaq____	4,950.82	▲	40.59	▲	0.83%		
	S&P_500___	2,081.90	▲	5.57	▲	0.27%		
	30_Yr_Bond____	2.52	▼	-0.01	▼	-0.40%		

NYSE Volume	 3,265,932,000 	 	 	 	 	  		 
Nasdaq Volume	 1,685,617,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,937.41	▼	-24.36	▼	-0.35%		
	DAX_____	12,035.86	▼	-87.66	▼	-0.72%		
	CAC_40__	5,136.86	▼	-14.33	▼	-0.28%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,928.30	▲	35.10	▲	0.60%		
	Shanghai_Comp	3,994.81	▲	33.43	▲	0.84%		
	Taiwan_Weight	9,571.97	▼	-69.93	▼	-0.73%		
	Nikkei_225___	19,789.81	▲	149.27	▲	0.76%		
	Hang_Seng.__	26,236.86	▲	961.22	▲	3.80%		
	Strait_Times.__	3,460.68	▼	-4.94	▼	-0.14%		
	NZX_50_Index_	5,859.71	▲	4.28	▲	0.07%		

http://finance.yahoo.com/news/stocks-edge-higher-health-care-201230211.html

*Stocks edge higher as health care gains on deal news

Stocks rise as Mylan bids $29 billion for Perrigo; Fed minutes give no clarity on rate hikes*
Associated Press By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- Deal news gave the stock market a lift Wednesday.

Health care stocks rose after generic drugmaker Mylan bid $29 billion for rival Perrigo. That offset a slump in energy stocks prompted by a big drop in oil prices.

In Europe, oil company Royal Dutch Shell agreed to buy BG Group for $69.7 billion in cash and stock.

Corporations worldwide are seeking to increase growth through acquisitions and have announced almost $1 trillion of deals so far this year, according to data provider Dealogic. That's giving a boost to stock markets as the acquiring companies typically offer a premium for their targets.

"There's obviously the big debate about whether (deals are) value-creating or value-destroying," said Dan Morris, Global Investment Strategist at investment company TIAA-CREF. "But in the short term it is generally good for markets."

The Standard & Poor's 500 index rose 5.57 points, or 0.3 percent, at 2,081.90. The Dow Jones industrial average was up 27.09 points at 17,902.51. The Nasdaq composite gained 40.59 points, or 0.8 percent, to 4,950.82.

Investors were also parsing the minutes from the latest Federal Reserve meeting for clues about the timing of a possible interest rate increase, and waiting for companies to start reporting their first-quarter earnings.

Alcoa, a metals maker, one of the first major companies to report earnings, said after the close that its revenue fell short of analysts' expectations. Its stock slid 47 cents, or 3.6 percent, to $13.21 in after-hours trading.

Overall, earnings per share are projected to decline by about 3 percent for S&P 500 companies, according to data from S&P Capital IQ. That would be the first contraction since the third quarter of 2009, when the economy was emerging from the Great Recession.

On Wednesday, generic drugmaker Perrigo was the biggest gainer in the S&P 500. The stock surged $30.29, or 18 percent, to $195 after the Mylan announced that it had made a cash-and-stock offer for the company. That's a premium of 24 percent to the latest closing price for Perrigo shares.

Both Mylan and Perrigo recently left the U.S. for Europe. If they combine they would form one of the world's largest makers of generic and over-the-counter generic medicines. Mylan's stock also rose, gaining $8.79, or 15 percent, to $68.36.

Energy stocks were the biggest decliners on the day, slumping as the price of oil plunged.

Oil fell nearly 7 percent, its biggest drop in two months, after the Energy Department reported an increase in oil storage that was about three times what analysts had expected.

Crude stocks rose by 11 million barrels during the week ending April 3, reaching a new high for this time of year. Benchmark U.S. crude fell $3.56 to close at $50.42 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $3.55 to close at $55.55 in London.

Investors also parsed the minutes of the Federal Reserve's March policy meeting that were released in Wednesday afternoon.

Fed officials disagreed widely last month on when they might begin lifting interest rates from record lows. Minutes of the March meeting revealed that several policy makers favored a rate hike in June, while others were concerned about low inflation. Policy makers have held the Fed's benchmark rate at close to zero for more than six years.

"I don't think the minutes are going to cause people to alter their views as to when the Fed is going to raise interest rates," said Sean Lynch, co-head of global equity strategy at Wells Fargo Investment Institute. "Our thoughts are still that they raise rates sometime this summer."

Corporate earnings will also be in focus in coming weeks.

Companies are set to start reporting earnings for the first quarter. Earnings per share are projected to decline by about 3 percent for S&P 500 companies, according to data from S&P Capital IQ. That would be the first contraction since the third quarter of 2009, when the economy was emerging from the Great Recession.

A big slump in oil prices last year his crimped profits at energy companies, and a surging dollar is hurting the earnings of big multinational corporations.

U.S. government bond prices were little changed. The yield on the 10-year Treasury note was flat at 1.89 percent. The dollar fell to 120.06 yen from 120.30 yen Tuesday. The euro slipped to $1.0799 from $1.0823.

In metals trading, gold fell $7.50 to $1,203.10 an ounce, silver fell 39 cents to $16.45 an ounce and copper fell three cents to $16.45 a pound.

In other energy futures trading on the NYMEX:

”” Wholesale gasoline fell 12.2 cents to close at $1.739 a gallon.

”” Heating oil fell 8.6 cents to close at $1.698 a gallon.

”” Natural gas fell 6.1 cents to close at $2.619 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	56.22	points or ▲	0.31%	on	Thursday, 9 April 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,958.73	▲	56.22	▲	0.31%		
	Nasdaq____	4,974.56	▲	23.74	▲	0.48%		
	S&P_500___	2,091.18	▲	9.28	▲	0.45%		
	30_Yr_Bond____	2.60	▲	0.08	▲	2.98%		

NYSE Volume	 3,173,060,250 	 	 	 	 	  		 
Nasdaq Volume	 1,688,780,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,015.36	▲	77.95	▲	1.12%		
	DAX_____	12,166.44	▲	130.58	▲	1.08%		
	CAC_40__	5,208.95	▲	72.09	▲	1.40%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,901.50	▼	-26.80	▼	-0.45%		
	Shanghai_Comp	3,957.53	▼	-37.28	▼	-0.93%		
	Taiwan_Weight	9,568.04	▼	-3.93	▼	-0.04%		
	Nikkei_225___	19,937.72	▲	147.91	▲	0.75%		
	Hang_Seng.__	26,944.39	▲	707.53	▲	2.70%		
	Strait_Times.__	3,460.30	▼	-0.38	▼	-0.01%		
	NZX_50_Index_	5,847.17	▼	-12.54	▼	-0.21%		

http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*US stocks edge higher; energy stocks gain as oil stabilizes

US stocks edge higher led by gains for energy stocks; investors assess corporate earnings*
Associated Press By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- U.S. stocks edged higher Thursday, led by gains for energy companies as the price of oil stabilized following a big drop the day before.

Oil rose as negotiations with Iran over its nuclear program hit a snag. That could mean Iranian oil will continue to be held back from the international market by sanctions.

Investors were also assessing some mixed news on company earnings.

Drugstore chain Walgreens climbed after reporting earnings that surpassed the expectations of Wall Street analysts. The company also said it would expand a cost-cutting program. Alcoa and Bed, Bath & Beyond dropped after delivering earnings reports that disappointed investors.

For the first time in years, the outlook for earnings could prove to be more of a hindrance than a help to stock investors in coming weeks.

Companies in the S&P 500 are expected to report that average earnings per share shrank by 3.1 percent in the first quarter, according to S&P Capital IQ. If the forecast proves accurate, it will be the first time since 2009, when the U.S. economy was emerging from the Great Recession, that earnings have contracted.

"If the U.S. market is going to advance this year, it's going to need to advance mostly on the back of earnings," said Russ Koesterich, chief investment strategist at BlackRock. "The guidance going forward is going to be critical for the market."

The Standard & Poor's 500 index rose 9.28 points, or 0.5 percent, to 2,091.18. The Dow Jones industrial average rose 56.22 points, or 0.3 percent, to 17,958.73. The Nasdaq composite gained 23.74 points, or 0.5 percent, to 4,974.56.

After six years of gains, U.S. stocks have made only modest advances this year. A big slump in oil prices since June last year have hit profits at energy companies and a surge in the U.S. dollar is hurting multi-national corporations that have a lot of sales overseas. Investors are also unsettled by the prospect of the Federal Reserve's first interest rate increase after more than six years of near-zero rates.

While U.S. stocks have struggled to gain traction this year, markets in Europe have surged.

On Thursday, the Stoxx Europe 600, an index that tracks large and medium-sized companies in Europe, closed at a record 409.15, surpassing the previous record of 405.50 set in March, 2000 during the technology boom. Stocks in the region are getting a boost from a combination of European Central Bank stimulus, a weaker euro and low oil prices.

The index is up almost 20 percent this year. By contrast, the S&P 500 index is up 1.6 percent, so far.

Walgreens was one of the day's biggest gainers on the U.S. market.

The company's stock jumped $4.94, or 5.6 percent, to $92.62 after it earnings surpassed analysts' expectations. The drugstore chain said it will shutter about 200 U.S. stores as part of an expanded cost reduction push.

Alcoa was among the losers.

The company posted a first-quarter profit that beat Wall Street expectations, but its revenue fell short.

Alcoa is striving to transform itself from an aluminum maker into a supplier for the auto and aerospace industries, making it less sensitive to swings in commodity prices. Analysts were disappointed by the outlook for the company's rolled metal products, which include sheets used for drinks and food cans. Alcoa's stock dropped 46 cents, or 3.4 percent, to $13.21.

Bed Bath & Beyond also slumped after reporting earnings.

The results for the housewares retailer fell short of the expectations of Wall Street analysts. Its earnings outlook was also less than forecast. Wedbush analyst Seth Basham described the outlook as "somber" and said the company's profitability was being threatened more and more by online competition.

The stock dropped $4.22, or 5.4 percent, to $73.46.

In energy trading, benchmark U.S. crude rose 37 cents to close at $50.79 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $1.02 to close at $56.57 in London.

U.S. government bond prices fell. The yield on the benchmark 10-year Treasury note edged up to 1.96 percent. The euro fell to $1.0661 versus $1.0797 on Wednesday. The dollar rose to 120.35 yen from 120.15 yen the day before.

Gold fell $9.50 to $1,193.60 an ounce, silver fell 28 cents to $16.18 an ounce and copper edged down less than a penny to $2.73 a pound.

In other energy trading on the NYMEX:

”” Wholesale gasoline rose 2 cents to close at $1.759 a gallon.

”” Heating oil fell 2.9 cents to close at $1.727 a gallon.

”” Natural gas fell 9.1 cents to close at $2.528 per 1,000 cubic feet, the lowest since June of 2012.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	98.92	points or ▲	0.55%	on	Friday, 10 April 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,057.65	▲	98.92	▲	0.55%		
	Nasdaq____	4,995.98	▲	21.41	▲	0.43%		
	S&P_500___	2,102.06	▲	10.88	▲	0.52%		
	30_Yr_Bond____	2.58	▼	-0.01	▼	-0.46%		

NYSE Volume	 3,111,218,000 	 	 	 	 	  		 
Nasdaq Volume	 1,466,659,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,089.77	▲	74.41	▲	1.06%		
	DAX_____	12,374.73	▲	208.29	▲	1.71%		
	CAC_40__	5,240.46	▲	31.51	▲	0.60%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,935.40	▲	33.90	▲	0.57%		
	Shanghai_Comp	4,034.31	▲	76.78	▲	1.94%		
	Taiwan_Weight	9,617.70	▲	49.66	▲	0.52%		
	Nikkei_225___	19,907.63	▼	-30.09	▼	-0.15%		
	Hang_Seng.__	27,272.39	▲	328.00	▲	1.22%		
	Strait_Times.__	3,472.38	▲	12.08	▲	0.35%		
	NZX_50_Index_	5,847.36	▲	0.19	▲	0.00%		

http://finance.yahoo.com/news/us-close-higher-second-week-202127509.html

*US close higher for second week; GE soars on deal news

US close higher, capping off second week of gains; General Electric soars on deal news*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- U.S. stocks advanced Friday, capping off a second straight weekly advance for the market. Investors were encouraged by the latest corporate deal news, that General Electric would be selling its long-struggling lending business.

Investors are turning their focus to next week, when corporate earnings ramp up. So far the outlook isn't encouraging. With economic sluggishness in the U.S. and Europe, as wells the rapid appreciation of the dollar, analysts expect first-quarter results to be down 4.6 percent.

"Earnings are not going to be down because the U.S. economy is struggling," said James Liu, global market strategist at JPMorgan Funds. "It's going to be because of what has happened in energy and the dollar."

Next week the nation's biggest banks will report their results, including Bank of America, JPMorgan Chase, Wells Fargo and Goldman Sachs. Thirty-five of the members of the Standard & Poor's 500 will report their results, as well as seven members of the Dow Jones industrial average

On Friday the Dow rose 98.92 points, or 0.6 percent, to 18,057.65. The S&P 500 rose 10.88 points, or 0.5 percent, to 2,102.06 and the Nasdaq composite rose 21.41 points, or 0.4 percent, to 4,995.98.

General Electric soared after the company said it would sell most of its lending arm, known as GE Capital, and shift its focus back to its industrial business.

GE's stock jumped $2.78, or 11 percent, to $28.51, making it the biggest gainer in the Dow and the S&P 500.

GE is known for making jet engines, light bulbs and other electronics, but a significant part of the company's business has been financing. GE Capital was a huge business until the financial crisis, when new regulations made being non-bank company in the lending business more difficult. GE spun off its credit card operation into a new company last year called Synchrony Financial.

It was a solid week for the market overall. The Dow and S&P 500 each rose 1.7 percent, while the Nasdaq rose 2.2 percent. The U.S. stock market has not had two straight weeks of gains since mid-February.

Most of this week's gains can be attributed to the Federal Reserve. After the disappointing March jobs report released April 3, traders now believe that the nation's central bank is not going to raise interest rates until September instead of the originally anticipated June timeframe.

William Dudley, president of the Federal Reserve's New York branch, said Monday that the Fed's rate increases would be "shallow" when he cited the recent weak economic data including the jobs report.

"I think we are still looking at two rate hikes this year, but they will likely be later this year," JPMorgan's Liu said.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.95 percent. The dollar edged down to 120.20 yen from 120.57 yen while the euro fell to $1.0597 from $1.0662.

In energy markets, the price of oil rose Friday after a closely-watched count of working drill rigs declined more sharply than expected, suggesting supplies will soon fall.

Benchmark U.S. crude rose 85 cents to close at $51.64 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $1.30 to close at $57.87 in London.

In other futures trading on the NYMEX:

— Wholesale gasoline rose 4.8 cents to close at $1.807 a gallon.

— Heating oil rose 3.9 cents to close at $1.766 a gallon.

— Natural gas fell 1.7 cents to close at $2.511 per 1,000 cubic feet.

In metals trading, gold rose $11 to $1,204.60 an ounce, silver rose 21 cents to $16.38 an ounce and copper edged up half a penny to $2.73 an ounce.

0911


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-80.61	points or ▼	-0.45%	on	Monday, 13 April 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,977.04	▼	-80.61	▼	-0.45%		
	Nasdaq____	4,988.25	▼	-7.73	▼	-0.15%		
	S&P_500___	2,092.43	▼	-9.63	▼	-0.46%		
	30_Yr_Bond____	2.58	▲	0.00	▼	-0.08%		

NYSE Volume	 2,910,137,750 	 	 	 	 	  		 
Nasdaq Volume	 1,504,866,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,064.30	▲	48.94	▲	0.70%		
	DAX_____	12,338.73	▼	-36.00	▼	-0.29%		
	CAC_40__	5,254.12	▲	13.66	▲	0.26%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,928.10	▼	-7.30	▼	-0.12%		
	Shanghai_Comp	4,121.71	▲	87.40	▲	2.17%		
	Taiwan_Weight	9,666.52	▲	48.82	▲	0.51%		
	Nikkei_225___	19,905.46	▼	-2.17	▼	-0.01%		
	Hang_Seng.__	28,016.34	▲	743.95	▲	2.73%		
	Strait_Times.__	3,484.39	▲	12.01	▲	0.35%		
	NZX_50_Index_	5,854.32	▲	6.96	▲	0.12%		

http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3
*
US stock market slips in light trading

US stock market drifts lower as investors look toward busy week for corporate earnings*
Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Investors sent stocks slightly lower Monday ahead of a busy week for company earnings.

With little news to move the market either way, major indexes spent the day wavering between slim gains and losses. Stocks started higher in the morning, turned lower shortly after midday, then drifted downward until the closing bell.

The Dow Jones industrial average fell 80.61 points, or 0.5 percent, to close at 17,977.04. The Standard & Poor's 500 index slipped 9.63 points, or 0.5 percent, to 2,092.43. The Nasdaq lost 7.73 points, or 0.2 percent, to 4,988.25.

JetBlue Airways surged after the airline reported a 9 percent increase in passengers last month compared with the same period a year ago. The company's stock gained 80 cents, or 4 percent, to $19.85.

JPMorgan Chase, Johnson & Johnson, and Wells Fargo are among the big names turning in quarterly results Tuesday as earnings season gets underway. Investors are braced for bad news, a result of the stronger dollar and low oil prices squeezing revenues. Analysts forecast that first-quarter earnings shrank 3 percent compared with the same quarter of last year, according to S&P Capital IQ. If that winds up happening, it would be the first drop in quarterly profits since 2009.

Brad McMillan, chief investment officer for Commonwealth Financial Network, said those numbers shouldn't raise too many worries. "Usually when earnings go down it means the economy is going in the tank, because most earnings come from domestic sales," he said. "This time is different. The big hit to earnings is from energy companies just getting hammered by oil prices. And a big chunk of the rest is from the stronger dollar."

Major stock markets in Europe were mixed. Germany's DAX sank 0.3 percent, while France's CAC 40 rose 0.3 percent. Britain's FTSE 100 fell 0.4 percent.

Markets in China jumped on expectations that Beijing will launch additional support for the world's second-largest economy. Imports fell 12 percent in March from a year earlier and exports declined 15 percent. That added to signs that economic growth in the first three months of the year, due to be reported Wednesday, might decline further from 7 percent the previous quarter.

Hong Kong's Hang Seng gained 2.7 percent, closing at its highest level since December 2007. The Shanghai Composite Index climbed 2.1 percent, hitting its highest level since March 2008. In Japan, the Nikkei 225 closed nearly unchanged.

Back in the U.S., Builders FirstSource said it's buying ProBuild, a supplier of building materials, for roughly $1.6 billion, aiming to expand its geographic reach. The deal is expected to close in the second half of the year. Builders FirstSource soared $4.67, or 68 percent, to $11.57.

Two gold mining companies, Alamos Gold and AuRico Gold, announced a plan to merge on Monday in a deal worth $1.5 billion. It's the latest merger between gold miners attempting to cut costs in the face of slumping prices for precious metals. Alamos Gold jumped 39 cents, or 6 percent, to $6.28. The price of gold has lost a third of its value since late 2012, when it traded as high as $1,780 an ounce.

Gold and other precious metals fell slightly in Monday trading. Gold lost $5.30 to settle at $1,199.30 an ounce, while silver slid 9 cents to $16.29. Copper lost 2 cents to $2.72.

Prices for U.S. government bonds crept up, pushing the yield on the 10-year Treasury note down to 1.93 percent.

In the market for oil and gas, benchmark U.S. crude oil rose 27 cents to close at $51.91 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for many oils imported by U.S. refineries, gained 6 cents to $57.93 a barrel.

In other trading on the NYMEX:

”” Wholesale gasoline fell less than a cent to $1.805 a gallon

”” Heating oil gained 1.7 cents to $1.783 a gallon

”” Natural gas was unchanged at $2.511 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	59.66	points or ▲	0.33%	on	Tuesday, 14 April 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,036.70	▲	59.66	▲	0.33%		
	Nasdaq____	4,977.29	▼	-10.96	▼	-0.22%		
	S&P_500___	2,095.84	▲	3.41	▲	0.16%		
	30_Yr_Bond____	2.55	▼	-0.03	▼	-1.32%		

NYSE Volume	 3,301,391,000 	 	 	 	 	  		 
Nasdaq Volume	 1,551,643,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,075.26	▲	10.96	▲	0.16%		
	DAX_____	12,227.60	▼	-111.13	▼	-0.90%		
	CAC_40__	5,218.06	▼	-36.06	▼	-0.69%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,916.20	▼	-11.90	▼	-0.20%		
	Shanghai_Comp	4,135.57	▲	13.85	▲	0.34%		
	Taiwan_Weight	9,642.22	▼	-24.30	▼	-0.25%		
	Nikkei_225___	19,908.68	▲	3.22	▲	0.02%		
	Hang_Seng.__	27,561.49	▼	-454.85	▼	-1.62%		
	Strait_Times.__	3,521.08	▲	36.69	▲	1.05%		
	NZX_50_Index_	5,882.11	▲	27.79	▲	0.47%		

http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*US stocks mostly higher after rise in oil, mixed earnings

US stocks end mostly higher after rise in oil, mixed earnings reports; bond prices rise*
Associated Press By Bernard Condon, AP Business Writer

NEW YORK (AP) -- Rising oil prices helped push the stock market mostly higher on Tuesday, but the gains were tiny as investors weighed mixed results from companies reporting earnings.

Stocks fell shortly after the open, then headed mostly higher along with the price of oil. Chevron led the Dow Jones industrial average higher with a 2.2 percent gain.

A jump in JPMorgan Chase after the bank reported strong first-quarter earnings also helped push the blue-chip index higher. Wells Fargo slumped after reporting that its earnings had fallen.

The Dow Jones rose 59.66 points, or 0.3 percent, to 18,036.70. The Standard & Poor's 500 climbed 3.41 points, or 0.2 percent, to 2,095.84. The Nasdaq composite fell 10.96 points, or 0.2 percent, to 4,977.29.

Stocks have generally been rising this year, but the gains have been modest as several factors from labor strife at West Coast ports, bad weather, a slump in oil prices and a strengthening dollar have dug into earnings. A stronger currency makes profits earned overseas by U.S. multinationals worth less when translated back to dollars.

Companies in the S&P 500 are expected to report a 3.5 percent slump in earnings per share in the first quarter, according to S&P Capital IQ. That would be the first quarterly drop since the U.S. was climbing out of recession in 2009.

Many financial analysts and stock strategists are shrugging off the profit hit as temporary. But not everyone is convinced, said LPL Financial economist John Canally, and worry is beginning to creep in.

"What will be the further impact of the strong dollar? If you're an energy company, what do you do if oil prices don't rise? There are no answers yet," said Canally. "And that uncertainly is what markets don't like and so trading is choppy."

The impact of stronger dollar was seen in Johnson & Johnson's results released Tuesday. The company said a stronger dollar was partly to blame for an 8.6 percent drop in its first-quarter profit. The company also cut its full-year profit forecast. Shares fell three cents to $100.52.

Investors will have more results to mull over in the coming days. Bank of America, Delta Air Lines and Netflix report on Wednesday, giant money manager BlackRock and Goldman Sachs on Thursday and General Electric and IBM on Friday.

In total, 35 members of the S&P 500 are expected to report this week.

In economic news, the Commerce Department reported that retail sales rose 0.9 percent last month, after declining 0.5 percent in February. The rebound suggests that shoppers are returning after an unseasonably cold winter froze sales.

But the rise was less than economists had expected, and it follows other indicators that the U.S. economic growth is slowing. A jobs report released earlier this month showed that hiring had slowed dramatically in the March.

"It's remarkable that we've had relatively weak economic data but the market has held up," said Mark Luschini, chief investment strategist at Janney Montgomery Scott. He added, "Investors are willing to look through that."

Among stocks making moves:

”” JPMorgan Chase gained 97 cents, or 1.6 percent, to $63.04 after reporting earnings rose 11 percent in the first quarter. The nation's largest bank by assets was helped by strong results in its currency, commodities and fixed-income trading businesses.

”” Norfolk Southern slumped 4.2 percent after forecasting disappointing first-quarter results after the close of trading on Monday. It said demand for coal shipments for export fell. Shares dropped $4.38 to $100.49. The railroad company reports results on April 29.

”” Wells Fargo fell 40 cents, or 0.7 percent, to $54.19 after reporting first-quarter earnings fell slightly from the same period a year earlier. Gains from trading and mortgages were offset by lower income from other sources, such as card fees and deposit service charges.

”” Avon Products surged 14 percent after The Wall Street Journal, citing sources familiar with matter, reported that the beauty company is considering "strategic alternatives" that could include selling its North American business. Shares rose $1.14 to $9.15.

The rise in oil Tuesday came on indications that U.S. oil production in places like North Dakota is beginning to slip as a result of a sharp pullback in drilling activity in recent months. Benchmark U.S. crude rose $1.38 to close at $53.29 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 50 cents to close at $58.43 in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 3.1 cents to close at $1.836 a gallon.

”” Heating oil rose 1.9 cents to close at $1.802 a gallon.

”” Natural gas rose 1.9 cents to close at $2.530 per 1,000 cubic feet.

In currency markets, the dollar slipped to 119.37 yen from 120.32 yen. The euro rose to $1.0655 from $1.0597.

Gold fell $6.70 to $1,192.60 an ounce, silver fell 13 cents to $16.16 an ounce and copper fell two cents to $2.70 a pound.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.89 percent from 1.93 percent late Monday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	75.91	points or ▲	0.42%	on	Wednesday, 15 April 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,112.61	▲	75.91	▲	0.42%		
	Nasdaq____	5,011.02	▲	33.73	▲	0.68%		
	S&P_500___	2,106.63	▲	10.79	▲	0.51%		
	30_Yr_Bond____	2.56	▲	0.01	▲	0.35%		

NYSE Volume	 3,998,632,500 	 	 	 	 	  		 
Nasdaq Volume	 1,769,250,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,096.78	▲	21.52	▲	0.30%		
	DAX_____	12,231.34	▲	3.74	▲	0.03%		
	CAC_40__	5,254.35	▲	36.29	▲	0.70%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,877.30	▼	-38.90	▼	-0.66%		
	Shanghai_Comp	4,084.16	▼	-51.40	▼	-1.24%		
	Taiwan_Weight	9,540.06	▼	-102.16	▼	-1.06%		
	Nikkei_225___	19,869.76	▼	-38.92	▼	-0.20%		
	Hang_Seng.__	27,618.82	▲	57.33	▲	0.21%		
	Strait_Times.__	3,539.95	▲	18.87	▲	0.54%		
	NZX_50_Index_	5,856.08	▼	-26.03	▼	-0.44%		

http://finance.yahoo.com/news/us-stocks-rise-earnings-roll-171822985.html

*US stocks rise as earnings roll in, oil prices climb

US stock market climbs as earnings roll in and oil prices rise, lifting energy companies*
Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Rising corporate profits and a jump in oil prices helped push the stock market to a modest gain on Wednesday. Delta and Intel led the way up after turning in results that beat Wall Street's forecasts. The price of oil soared to its highest price this year, driving up energy stocks.

For investors, any good news comes as a welcome surprise this earnings season, which is widely expected to be the worst in years. Analysts predict that companies in the S&P 500 will report a 3 percent drop in profits. Most of the blame lies with the slump in oil prices over the past year, which has squeezed oil and gas companies, and a strong dollar, which diminishes the value of profits earned abroad when they're brought back home.

"So far, there's no signal that this quarter is really a harbinger of a profit recession," said Jeremy Zirin, head of investment strategy at UBS Wealth Management. I think that's why the market is reacting positively today."

The Standard & Poor's 500 index rose 10.79 points, or 0.5 percent, to close at 2,106.63. Transocean, an operator of drilling rigs, soared 10 percent, the biggest gain in the index.

The Dow Jones industrial average rose 75.91 points, or 0.4 percent, to 18,112.61, while the Nasdaq composite added 33.73 points, or 0.7 percent, to 5,011.02.

Delta Air Lines said its quarterly profit more than tripled as passengers flew more and fuel prices plunged from a year ago. The results sent Delta's stock up $1.12, or 3 percent, to $44.20.

After the market closed Tuesday, Intel, the world's largest maker of computer chips, reported quarterly profits that beat analysts' targets. Intel's stock surged $1.34, or 4 percent, to $32.83.

Crude oil jumped $3.10 to settle at $56.39, hitting its highest price this year, after the Energy Department said that storage of crude rose by the smallest amount in three months. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $1.89 to close at $60.32 in London.

Major markets in Europe ended the day mixed. Germany's DAX finished flat while France's CAC-40 gained 0.7 percent. Britain's FTSE 100 index of leading shares added 0.3 percent.

Minutes after being forced from the stage by a protester, Mario Draghi, the president of the European Central Bank, indicated that the bank will stick with its monthly purchases of bonds. A recent run of solid economic data fed speculation that the ECB will ease the pace of its bond-buying, aimed at spurring economic growth. His briefing came after the bank kept its main interest rate unchanged at a record low of 0.05 percent.

In Asia, Japan's Nikkei 225 stock index slipped 0.2 percent. Hong Kong's Hang Seng gained 0.2 percent, while the Shanghai composite index lost 1.2 percent.

Back in the U.S., Bank of America turned in a quarterly profit following a big loss a year ago as it put some of its legal troubles behind it. But revenue remained flat for its main businesses. The bank's stock dropped 18 cents, or 1 percent, to $15.64.

Aduro Biotech more than doubled on its first day of trading, closing at $42, far above its initial offering price of $17. The 147 percent increase beat the 119 percent first-day gain for Shake Shack on Jan. 15, making it the biggest first-day pop for an IPO this year.

Precious and industrial metals traded higher. Gold rose $8.70 to settle at $1,201.30 an ounce, while silver rose 12 cents to $16.28 an ounce. Copper picked up a penny to $2.71 a pound.

In the market for U.S. government bonds, the yield on the 10-year Treasury note was unchanged at 1.90 percent.

In other trading on the New York Mercantile Exchange:

”” Wholesale gasoline rose 10 cents to close at $1.936 a gallon.

”” Heating oil rose 8.7 cents to close at $1.889 a gallon.

”” Natural gas rose 0.8 cents to close at $2.610 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-6.84	points or ▼	-0.04%	on	Thursday, 16 April 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,105.77	▼	-6.84	▼	-0.04%		
	Nasdaq____	5,007.79	▼	-3.23	▼	-0.06%		
	S&P_500___	2,104.99	▼	-1.64	▼	-0.08%		
	30_Yr_Bond____	2.56	▲	0.00	▲	0.00%		

NYSE Volume	 3,437,865,750 	 	 	 	 	  		 
Nasdaq Volume	 1,630,186,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,060.45	▼	-36.33	▼	-0.51%		
	DAX_____	11,998.86	▼	-232.48	▼	-1.90%		
	CAC_40__	5,224.49	▼	-29.86	▼	-0.57%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,917.60	▲	40.30	▲	0.69%		
	Shanghai_Comp	4,194.82	▲	110.66	▲	2.71%		
	Taiwan_Weight	9,656.87	▲	116.81	▲	1.22%		
	Nikkei_225___	19,885.77	▲	16.01	▲	0.08%		
	Hang_Seng.__	27,739.71	▲	120.89	▲	0.44%		
	Strait_Times.__	3,531.61	▼	-8.34	▼	-0.24%		
	NZX_50_Index_	5,881.76	▲	25.68	▲	0.44%		

http://finance.yahoo.com/news/giving-afternoon-gain-us-stocks-203525919.html

*Giving up an afternoon gain, US stocks close with tiny loss

An afternoon gain fades for US indexes, leaving the market slightly lower; Netflix, Etsy soar*
Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Netflix soared, big corporations turned in quarterly results, and investors welcomed new companies into the market. There was plenty of news, but major indexes finished the day just short of where they started.

Stocks drifted lower at the start of trading, followed oil prices higher in the early afternoon, then flipped back to slight losses in the last hour before the closing bell.

David Lebovitz, global market strategist at J.P. Morgan Asset Management, said investors are trying to figure out if the recent run of uninspiring economic news will hit corporate profits. At the same time, big banks and other corporations have turned in better results than Wall Street expected this week.

"There's a bit of a tug of war right now," Lebovitz said. "So far, it looks like the earnings season is off to a decent start."

The Standard & Poor's 500 index edged down 1.64 points, a fraction of a percent, to 2,104.99.

The Dow Jones industrial average slipped 6.84 points, less than 0.1 percent, to 18,105.77, and the Nasdaq composite lost 3.23 points, also less than 0.1 percent, to 5,007.79.

Netflix said it added 4.9 million subscribers in the first three months of the year, better than any other quarter since the company started streaming video eight years ago. All told, Netflix finished March with 62 million subscribers around the world. Traders drove the company's stock up $86.59, or 18 percent, to $562.05, the biggest gain in the S&P 500.

Citigroup's quarterly net income rose as the bank trimmed expenses and legal costs, which compensated for a decline in revenue. The results beat Wall Street's estimates, sending Citi's stock up 81 cents, or 2 percent, to $54.02.

The first-quarter earnings season is supposed to be the worst in years, with analysts forecasting a 3 percent drop in earnings compared with the year before. The early results suggest things might not turn out that way. Earnings from more than seven out of 10 companies have come in higher than Wall Street's estimates, according to S&P Capital IQ.

The economic news out Thursday gave traders little direction. The Labor Department reported that the number of Americans applying for unemployment aid last week inched up for the second week in a row. The four-week average, a less volatile measure, edged up to 282,750, still close to the lowest level in nearly 15 years.

In Europe, mounting fears that Greece could default on its debts shot the country's borrowing costs higher. The latest jitters followed a report Thursday in the Financial Times that Greece made an "informal approach" to the International Monetary Fund to have its bailout repayments delayed. Many in the markets think the Greek government will struggle to make a payment due next month to the IMF if it fails to reach a deal in negotiations with European creditors.

"There seems little chance of talks being resolved," said Neil MacKinnon, global macro strategist at VTB Capital. "A debt default looms."

European stock markets fell. Germany's DAX dropped 1.9 percent and France's CAC 40 lost 0.6 percent. Britain's FTSE 100 slid 0.5 percent.

Back in the U.S., Etsy nearly doubled in its first day of trading, jumping $14, or 88 percent, to $30. The online market for handmade crafts and vintage goods raised $267 million in its initial public offering late Wednesday, selling shares at $16 each.

U.S. government bonds held steady, with the 10-year Treasury yield trading at 1.88 percent.

In the commodity markets, industrial metals surged while precious metals barely budged. Copper rose 6 cents to settle at $2.77 a pound. Gold fell $3.30 to $1,198 an ounce, and silver added a penny to $16.28 an ounce.

The price of oil rose for the sixth day in a row on expectations that growth in U.S. supplies is slowing. Benchmark U.S. crude inched up 32 cents to close at $56.71 a barrel in New York. Brent crude for June delivery, a benchmark for international oils used by many U.S. refineries, rose 66 cents to close at $63.98 a barrel in London. The Brent contract for delivery in May expired Wednesday at $60.32.

In other trading on the New York Mercantile Exchange:

”” Wholesale gasoline fell 0.1 cent to close at $1.935 a gallon.

”” Heating oil rose 1.9 cents to close at $1.908 a gallon.

”” Natural gas rose 7.4 cents to close at $2.684 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-279.47	points or ▼	-1.54%	on	Friday, 17 April 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,826.30	▼	-279.47	▼	-1.54%		
	Nasdaq____	4,931.81	▼	-75.98	▼	-1.52%		
	S&P_500___	2,081.18	▼	-23.81	▼	-1.13%		
	30_Yr_Bond____	2.51	▼	-0.05	▼	-2.00%		

NYSE Volume	 3,614,370,250 	 	 	 	 	  		 
Nasdaq Volume	 1,917,801,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,994.63	▼	-65.82	▼	-0.93%		
	DAX_____	11,688.70	▼	-310.16	▼	-2.58%		
	CAC_40__	5,143.26	▼	-81.23	▼	-1.55%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,851.50	▼	-66.10	▼	-1.12%		
	Shanghai_Comp	4,287.30	▲	92.47	▲	2.20%		
	Taiwan_Weight	9,570.93	▼	-85.94	▼	-0.89%		
	Nikkei_225___	19,652.88	▼	-232.89	▼	-1.17%		
	Hang_Seng.__	27,653.12	▼	-86.59	▼	-0.31%		
	Strait_Times.__	3,525.19	▼	-6.42	▼	-0.18%		
	NZX_50_Index_	5,861.48	▼	-20.27	▼	-0.34%		

http://finance.yahoo.com/news/greek-day-reckoning-shakes-stock-175252223.html

*Greek 'day of reckoning' shakes stock markets

European stock slump, disappointing earnings drive US market lower in broad sell-off*
Associated Press By Bernard Condon, AP Business Writer

NEW YORK (AP) -- Fear that Greece could default on its debt and abandon the euro rattled global financial markets Friday.

News that negotiations between Greece and its international lenders are making little progress sent European stock markets down sharply, and the selling spread across the Atlantic. By the close of U.S. trading, stocks across industries were lower, with four of five stocks down. Investors shifted money into German government bonds, a perceived haven in troubled times.

In the U.S., disappointing first-quarter financial results from several big companies fed the selling. After American Express reported revenue that fell short of expectations, investors drove down its stock more than 4 percent.

"The day of reckoning" for Greece is fast approaching, said Uri Landesman, president of investment fund Platinum Partners. "People thought everyone would work it out, but if no one caves, there won't be a deal."

For all the turmoil in the markets, major U.S. stock indexes closed the day with relatively modest losses. At one point, the Dow Jones industrial average was down 357, heading for its worst day in six months. The Dow regained some of those losses toward the close of trading, ending down 279.47 to 17,826.30, a drop of 1.5 percent.

That was only the worst drop since March 25. The Dow has struggled since reaching a record high on March 2 and is now back where it started the year.

The Standard & Poor's 500 index lost 23.81 points, or 1.1 percent, to 2,081.18. The Nasdaq composite fell 75.98 points, or 1.5 percent, to 4,931.81.

Greece and its creditors are still struggling to find a deal that can keep the country from defaulting on its debt. The argument is over what reforms Greece should make in return for loans. Many think Greece will struggle to make payments to the International Monetary Fund due next month if it fails to reach a deal.

The concerns have caused investors to demand higher rates for loaning money to Greece's government. The yield on the country's benchmark 10-year bond jumped to 12.72 percent Friday. That rate has more than doubled from 5.51 percent in September.

In corporate news, Honeywell International fell $2.22, or 2 percent, to $101.70 after reporting disappointing first-quarter results. The industrial conglomerate posted earnings per share that beat estimates, but its revenue fell short.

Advanced Micro Devices plunged 10 percent after reporting a larger loss than investors had expected after the market closed on Thursday. The chipmaker's stock fell 29 cents to $2.58.

Investors have been bracing themselves for a disappointing earnings season. Companies in the S&P 500 are expected to report earnings per share fell 2.6 percent from a year earlier, according to S&P Capital IQ, a research firm. That would be the first drop since 2009.

Jim Paulsen, chief investment strategist at Wells Capital Management, said stocks are now somewhat expensive compared with earnings and, along with a list of other worries, the news from Greece on Friday proved just too much to bear.

"When you have more nervous investors, news becomes magnified," he said.

Worrisome news out of China also weighed on investors. After markets closed in Asia, Chinese financial regulators issued warnings about that country's soaring stock market. Regulators said they will tighten rules on borrowing to buy stocks. They also plan to make it easier for investors to bet against the market there, The Wall Street Journal reported. Shanghai's stock market has more than doubled in the last year.

"People are thinking maybe the party is over in China," said Doug Cote, chief market strategist for Voya Investment Management. "China recognizes that it could be creating a bubble, and now it wants to slow down. It's trying to rein back risk."

Germany's DAX index dropped 2.6 percent. France's CAC 40 shed 1.6 percent and Britain's FTSE 100 fell 0.9 percent. Investors piled into German government debt, which is perceived as being among the safest investments denominated in euros. Yields on Germany's 10-year government note, which moves opposite to its price, fell to 0.07 percent, a record low, according to Tradeweb.

The price of oil fell nearly 3 percent Friday on a slowdown in the reduction of working drilling rigs, but finished the week sharply higher. A closely watched industry count of drilling rigs showed a decline of 26 U.S. rigs for the week, compared with a decline of 42 last week.

Benchmark U.S. crude fell 97 cents to close at $55.74 a barrel in New York. U.S. crude finished up 8 percent for the week, however. Brent crude fell 53 cents to close at $63.45 a barrel in London.

In other futures trading on the NYMEX:

— Wholesale gasoline fell 0.5 cent to close at $1.930 a gallon.

— Heating oil fell 2.6 cents to close at $1.882 a gallon.

— Natural gas rose 0.5 cent to close at $2.634 per 1,000 cubic feet.

The dollar fell slightly to 118.86 yen while the euro rose to $1.0794. Bond prices fell after the U.S. government reported a slight increase in inflation last month. The yield on the 10-year Treasury note fell slightly to 1.87 percent from 1.88 percent on Thursday

Precious and industrial metals futures didn't move much. Gold rose $5.10 to $1,203.10 an ounce, silver fell 6 cents to $16.23 an ounce and copper was unchanged at $2.77 a pound.

1499


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	208.63	points or ▲	1.17%	on	Monday, 20 April 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,034.93	▲	208.63	▲	1.17%		
	Nasdaq____	4,994.60	▲	62.79	▲	1.27%		
	S&P_500___	2,100.40	▲	19.22	▲	0.92%		
	30_Yr_Bond____	2.57	▲	0.07	▲	2.63%		

NYSE Volume	 2,966,101,250 	 	 	 	 	  		 
Nasdaq Volume	 1,611,972,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,052.13	▼	-8.32	▼	-0.12%		
	DAX_____	11,891.91	▲	203.21	▲	1.74%		
	CAC_40__	5,187.59	▲	44.33	▲	0.86%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,806.80	▼	-44.70	▼	-0.76%		
	Shanghai_Comp	4,217.08	▼	-70.22	▼	-1.64%		
	Taiwan_Weight	9,552.85	▼	-18.08	▼	-0.19%		
	Nikkei_225___	19,634.49	▼	-18.39	▼	-0.09%		
	Hang_Seng.__	27,094.93	▼	-558.19	▼	-2.02%		
	Strait_Times.__	3,503.25	▼	-21.94	▼	-0.62%		
	NZX_50_Index_	5,824.28	▼	-37.21	▼	-0.63%		

http://finance.yahoo.com/news/us-stocks-gain-rebounding-fridays-204044025.html

*US stocks gain, rebounding from Friday's slump; Hasbro jumps

US stocks gain, getting a lift from good earnings reports; Hasbro jumps on Transformer sales*
Associated Press By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The stock market bounced back from a big loss on Friday after getting a boost from some good first-quarter earnings reports.

Toy maker Hasbro reported an unexpected gain in sales on the back of strong demand for its Transformer, Nerf and Marvel toys. Oil and gas services company Halliburton and investment bank Morgan Stanley also reported results that we're better than analysts were expecting.

Stocks were recovering from a big slump on Friday when worries about the unresolved Greek debt crisis and some disappointing earnings reports rattled financial markets.

This week is one of the busiest for first-quarter earnings with 147 companies, close to one-third of those in the S&P 500, scheduled to report their results. Investors are already expecting weak earnings because a surge in the dollar is hurting overseas sales. A big drop in oil prices is also hitting energy companies.

The strong earnings Monday "are setting a good trend to start the week," said David Lyon, a global investment specialist at JPMorgan Private Bank. "Earnings are coming in better than the weakened expectations."

The Standard & Poor's 500 index climbed 19.22 points, or 0.9 percent, to 2,100.40. The Dow Jones industrial average gained 208.63 points, or 1.2 percent, to 18,034.93. The Nasdaq composite climbed 62.79 points, or 1.3 percent, to 4,994.60.

Currently, analysts are predicting earnings per share will slide by an average of 2.6 percent for S&P 500 companies in the first quarter, according to S&P Capital IQ data. If that forecast holds, it will mark the first period that earnings have contracted since the third quarter of 2009, when the U.S. was emerging from the Great Recession.

On Monday, though, the reports were better than forecast.

Hasbro was the biggest gainer in the S&P 500 index after reporting better-than-expected earnings. The company is battling a shift toward video gaming, but unexpectedly reported rising revenue for the first quarter. The stock jumped $8.27, or 13 percent, to $74.16.

Halliburton was another company to gain after posting earnings that beat expectations.

The company reported a $643 million loss for the first quarter, but after asset write-offs, severance costs and other items had been accounted for, the company logged earnings per share of 49 cents. Halliburton's stock rose 96 cents, or 2 percent, to $47.85.

Stocks have moved between big upswings and losses for much of the year, and the S&P 500 has gained only 2 percent so far in 2015.

Not all investors are positive on the near-term outlook for stocks. Michael Scanlon, a senior investment analyst at John Hancock Asset Management, says stocks will likely continue to struggle to advance as long as the debt situation in Greece remains unresolved and earnings at U.S. companies remain weak.

"I feel like the first half of this year ... is going to turn out to be a pretty bumpy period for equities," said Scanlon.

In government bond trading, prices edged lower. The yield on the benchmark 10-year Treasury note rose to 1.88 percent from 1.86 percent on Friday.

In currency trading, the euro weakened to $1.0737 from $1.0805 on Friday. The dollar rose to 119.24 yen from 118.94 yen

U.S. crude oil rose 64 cents to close at $56.38 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, was unchanged at $63.45 a barrel in London.

In metals trading, silver fell 34 cents, or 2.1 percent, to $15.89 an ounce. Gold dropped $9.40, or 0.8 percent, to $1,193.50 an ounce. Copper also dropped, falling 4.2 cents, or 1.5 percent, to $2.73 a pound.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 1.6 cents to close at $1.932 a gallon.

”” Heating oil fell 0.5 cent to close at $1.877 a gallon.

”” Natural gas fell 9.8 cents to close at $2.536 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-85.34	points or ▼	-0.47%	on	Tuesday, 21 April 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,949.59	▼	-85.34	▼	-0.47%		
	Nasdaq____	5,014.10	▲	19.50	▲	0.39%		
	S&P_500___	2,097.29	▼	-3.11	▼	-0.15%		
	30_Yr_Bond____	2.59	▲	0.02	▲	0.66%		

NYSE Volume	 3,223,047,250 	 	 	 	 	  		 
Nasdaq Volume	 1,689,459,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,062.93	▲	10.80	▲	0.15%		
	DAX_____	11,939.58	▲	47.67	▲	0.40%		
	CAC_40__	5,192.64	▲	5.05	▲	0.10%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,844.00	▲	37.20	▲	0.64%		
	Shanghai_Comp	4,293.62	▲	76.55	▲	1.82%		
	Taiwan_Weight	9,533.98	▼	-18.87	▼	-0.20%		
	Nikkei_225___	19,909.09	▲	274.60	▲	1.40%		
	Hang_Seng.__	27,850.49	▲	755.56	▲	2.79%		
	Strait_Times.__	3,508.61	▲	5.36	▲	0.15%		
	NZX_50_Index_	5,817.52	▼	-6.76	▼	-0.12%		

http://finance.yahoo.com/news/mixed-earnings-news-leaves-us-200903397.html
*
Mixed earnings news leaves US stocks mostly lower

Stock indexes end mostly lower as US companies turn in mixed earnings; Harley-Davidson sinks*
Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Tepid corporate results and another drop in the price of crude oil pulled stocks mostly lower on Tuesday.

Major indexes started the day slightly higher, turned lower around noon, then languished until the closing bell. A mixed batch of first-quarter earnings reports offered traders little direction.

DuPont said the rising dollar weighed on its results in the first quarter as earnings and sales shrunk. The chemical giant also lowered its forecast for full-year profits, and its stock fell $2.15, or 3 percent, to $70.69.

"It seems the market is in a holding pattern as investors are waiting to see just how much the dollar impacts corporate earnings," said Russell Price, Ameriprise Financial's senior economist. "So far, things are a bit better than expected, but we'll see how it plays out."

The Standard & Poor's 500 index fell 3.11 points, or 0.2 percent, to close at 2,097.29.

The Dow Jones industrial average fell 85.34 points, or 0.5 percent, to 17,949.59 while the Nasdaq composite gained 19.50 points, or 0.4 percent, to 5,014.10.

A strong dollar reflects the relative strength of the U.S. economy, but for big companies with customers around the world, a rising dollar can mean trouble. It hits Corporate America in two ways, making goods produced in the U.S. more expensive to foreign customers and diminishing the value of sales collected in foreign currencies when U.S. corporations bring the money home.

The rising dollar is a key reason analysts forecast that first-quarter corporate earnings will fall 2.2 percent, according to S&P Capital IQ. They expect sales to sink 1.8 percent. Over the past week, Johnson & Johnson, American Express and General Electric blamed the dollar for hurting their results.

Among a slew of other companies reporting results Tuesday, Harley-Davidson turned in quarterly sales that fell short of analysts' targets. The maker of motorcycles also cut its full-year forecast for shipments, blaming price cuts by rivals as well as the strong dollar. The company's stock fell $6.05, or 10 percent, to $55.72.

Teva Pharmaceuticals proposed buying Mylan NV, another maker of generic drugs, for more than $40 billion in cash and stock. The offer depends on Mylan dropping its proposed acquisition of yet another drugmaker, Perrigo. Mylan's stock jumped $6.02, or 9 percent, to $74.07. Teva's rose 87 cents, or 1 percent, to $64.16.

Major markets in Europe continued their recent climb. Germany's DAX finished with a gain of 0.4 percent, while France's CAC-40 inched up 0.1 percent. Britain's FTSE 100 added 0.2 percent.

Hong Kong's Hang Seng led a surge in Asian markets, jumping 2.8 percent. The Shanghai Composite Index in mainland China added 1.8 percent. Japan's Nikkei 225 gained 1.4 percent, while South Korea's Kospi lost 0.1 percent.

Back in the U.S., Kimberly-Clark jumped 5 percent after the maker of Huggies diapers and paper products reported income and revenue that easily beat analysts' forecasts. Its stock surged $5.79 to $113.15.

Government bond prices fell, pushing the yield on the benchmark 10-year Treasury note up to 1.91 percent.

In commodity trading, gold rose $9.40 to settle at $1,203.10 an ounce, while silver rose 12 cents to $16.01 an ounce. Copper slipped 3 cents to $2.70 a pound.

Crude oil fell $1.12 to close at $55.26 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, lost $1.37 to close at $62.08 a barrel in London.

In other futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline fell 4.3 cents to close at $1.888 a gallon.

”” Heating oil fell 2.4 cents to close at $1.853 a gallon.

”” Natural gas rose 3.9 cents to close at $2.575 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	88.68	points or ▲	0.49%	on	Wednesday, 22 April 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,038.27	▲	88.68	▲	0.49%		
	Nasdaq____	5,035.17	▲	21.07	▲	0.42%		
	S&P_500___	2,107.96	▲	10.67	▲	0.51%		
	30_Yr_Bond____	2.65	▲	0.07	▲	2.55%		

NYSE Volume	 3,348,150,750 	 	 	 	 	  		 
Nasdaq Volume	 1,669,728,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,028.24	▼	-34.69	▼	-0.49%		
	DAX_____	11,867.37	▼	-72.21	▼	-0.60%		
	CAC_40__	5,211.09	▲	18.45	▲	0.36%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,812.80	▼	-31.20	▼	-0.53%		
	Shanghai_Comp	4,398.49	▲	104.87	▲	2.44%		
	Taiwan_Weight	9,613.00	▲	79.02	▲	0.83%		
	Nikkei_225___	20,133.90	▲	224.81	▲	1.13%		
	Hang_Seng.__	27,933.85	▲	83.36	▲	0.30%		
	Strait_Times.__	3,496.24	▼	-12.37	▼	-0.35%		
	NZX_50_Index_	5,793.61	▼	-23.90	▼	-0.41%		

http://finance.yahoo.com/news/slugg...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*After a sluggish start, US stocks finish higher

US stocks end higher after slow start; Visa among top gainers after China opens payment market*
Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Investors cheered moves by Google and credit-card companies on Wednesday and sent the stock market to a solid gain. Google helped set off a surge in technology stocks after it unveiled a low-cost wireless phone service.

Google's new wireless service, dubbed "Project Fi," costs around $20 a month for basic service and charges customers for the amount of data they use. The low-cost plan puts the Internet search giant into competition with AT&T and Verizon Wireless. Google's stock gained $6.25, or 1 percent, to $549.18.

For most of the day, the market looked like a driver given bad directions. Major indexes shuffled between slight gains and losses in morning trading before turning higher in the late afternoon. The gains were modest but shared widely: All 10 industries in the Standard & Poor's 500 index rose.

McDonald's said a strong dollar and restructuring charges weighed on its first-quarter results as a new CEO tries to turn the hamburger chain around. The company's sales continued to fall in the quarter, but its earnings beat Wall Street's estimates. McDonald's gained $2.97, or 3 percent, to $97.84.

Jack Ablin, chief investment officer at BMO Private Bank, called the market's response to McDonald's earnings typical of the earnings season so far.

"It was pretty lousy report, but investors remain optimistic about the future," Ablin said. "I think investors are willing to shrug off one bad quarter for earnings. We'll see what happens if we get a string of disappointments."

The S&P 500 index rose 10.67 points, or 0.5 percent, to 2,107.96. That's just 10 points shy of its record high reached on March 2.

The Dow Jones industrial average was up 88.68 points, or 0.5 percent, to 18,038.27, and the Nasdaq composite picked up 21.07 points, or 0.4 percent, to 5,035.17.

Visa and MasterCard surged following news that China plans to allow foreign companies to handle bank-card transactions. Visa's stock jumped $2.66, or 4 percent, to $68.01, while MasterCard gained $3.43, also 4 percent, to $91.20.

Among the big companies turning in quarterly results, Boeing reported higher profit and revenue for the first quarter. But the aircraft maker's sales missed estimates, while costs climbed for its 787 Dreamliner. Boeing dropped $2.14, or 1 percent, to $151.19.

Chipotle said bad weather and a shortage of pork slowed its sales growth at the start of the year. As a result, revenue for the first quarter fell short of Wall Street's targets. Chipotle said the issue could last until the end of the year. Chipotle's stock sank $51.29, or 7 percent, to $641.23.

Major markets finished mixed in Europe. France's CAC 40 rose 0.4 percent, while Germany's DAX dropped 0.6 percent. Britain's FTSE 100 fell 0.5 percent.

In Asia, Japan's benchmark Nikkei 225 rose 1.1 percent to finish at 20,133, the first time since April 14, 2000 that the index closed above 20,000 points. South Korea's Kospi was little changed. Hong Kong's Hang Seng gained 0.3 percent and China's Shanghai Composite jumped 2.4 percent.

Back in the U.S., government bond prices fell, driving the yield on the 10-year Treasury note up to 1.98 percent from 1.91 percent late Tuesday.

In commodities trading, benchmark U.S. crude oil fell 45 cents to $56.16 a barrel in New York. Brent crude rose 65 cents to $62.73 barrel in London.

In other futures trading on the New York Mercantile Exchange, wholesale gasoline rose 3.6 cents to $1.925 a gallon, heating oil rose 1.8 cents to $1.871 a gallon and natural gas rose 3.1 cents to $2.606 per 1,000 cubic feet.

Precious and industrial metals closed lower. Gold dropped $16.20 to end at $1,186.920 an ounce, while silver slid 21 cents to $15.80 an ounce. Copper dropped 4 cents to $2.67.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	20.42	points or ▲	0.11%	on	Thursday, 23 April 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,058.69	▲	20.42	▲	0.11%		
	Nasdaq____	5,056.06	▲	20.89	▲	0.41%		
	S&P_500___	2,112.93	▲	4.97	▲	0.24%		
	30_Yr_Bond____	2.63	▼	-0.02	▼	-0.72%		

NYSE Volume	 3,648,069,000 	 	 	 	 	  		 
Nasdaq Volume	 1,833,633,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,053.67	▲	25.43	▲	0.36%		
	DAX_____	11,723.58	▼	-143.79	▼	-1.21%		
	CAC_40__	5,178.91	▼	-32.18	▼	-0.62%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,820.30	▲	7.50	▲	0.13%		
	Shanghai_Comp	4,414.51	▲	16.01	▲	0.36%		
	Taiwan_Weight	9,797.49	▲	184.49	▲	1.92%		
	Nikkei_225___	20,187.65	▲	53.75	▲	0.27%		
	Hang_Seng.__	27,827.70	▼	-106.15	▼	-0.38%		
	Strait_Times.__	3,502.75	▲	6.51	▲	0.19%		
	NZX_50_Index_	5,757.91	▼	-35.70	▼	-0.62%		

http://finance.yahoo.com/news/nasdaq-sets-record-high-15-203205818.html
*
Nasdaq sets record high, 15 years after dot-com bubble

Nasdaq closes at all-time high, 15 years after dot-com bubble; oil gains*

Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Fifteen years, one month and thirteen days.

That's how long it took the Nasdaq composite index to close above the record it set at the apex of the dot-com bubble.

The Nasdaq rose 20.89 points, or 0.4 percent, to 5,056.06, above the record of 5,048.62 it set on March 10, 2000. In many ways, the crossing of that threshold is purely ceremonial and psychological.

The index, while still weighted with technology and Internet companies, has not been defined by the like of Pets.com, Geocities or WebVan for a decade and a half.

Apple, a company that was teetering on the edge in 2000, is now the biggest publicly traded company on the planet and makes up 9.7 percent of the Nasdaq. Google, which didn't exist as a public company in 2000, now makes up 2.4 percent of the index.

And the Standard & Poor's 500, which most fund managers use as a benchmark for the overall stock market, recovered from its dot-com peak in 2007.

"It's a major psychological barrier, but in the end, it's just a number," said Scott Wren, senior global equity strategist at Wells Fargo Advisors.

The Nasdaq's advance was part of a broader move higher by the stock market on Thursday.

The Dow Jones industrial average rose 20.42 points, 0.1 percent, to 18,058.69. The S&P 500 rose 4.97 points, or 0.2 percent, 2,112.93. The S&P 500 is about four points below the record high it set March 2.

The Nasdaq's close was a side attraction for many professional investors, who have been focused on companies that have been reporting their quarterly earnings and how the strong U.S. dollar has been having a negative impact on U.S. companies that rely a lot on overseas sales.

3M, General Motors, Procter & Gamble and Caterpillar all reported their earnings on Thursday and all said the strong U.S. dollar hurt them.

P&G, which makes Tide detergent and Gillette razors, said its profits were down roughly 7 percent and sales were down 8 percent from a year earlier. The company blamed a strong U.S. dollar, which makes its products more expensive when sold abroad. P&G fell $1.48, or 2 percent, to $80.95.

Another consumer products company, 3M, also reported lower profits due to the dollar. The maker of Post-Its and Scotch Tape fell $5.01, or 3 percent, to $159.66.

While Caterpillar reported a better-than-expected profit for last quarter, the construction equipment maker said it may face bigger issues later this year as long as the dollar remains strong. Caterpillar fell 8 cents to $84.79.

"The results have been pretty consistent this earnings season. If you're an export-heavy company, your results have suffered from a strong dollar," said Randy Frederick, managing director of trading and derivatives for Charles Schwab.

Benchmark U.S. crude oil rose $1.58, or 2.8 percent, to close at $57.74 a barrel in New York. The advance helped lift energy stocks, which gained 1 percent. Brent crude rose $2.12 to close at $64.85 a barrel in London.

Oil has been recovering slowly from low levels it hit in March, which investors have taken as a sign that prices are starting to stabilize after a year of declines.

In other trading of energy futures on the New York Mercantile Exchange, wholesale gasoline rose 7.1 cents to $1.997 a gallon, heating oil gained 5.3 cents to $1.924 a gallon and natural gas fell 7.5 cents to $2.531 per 1,000 cubic feet.

In other markets, the dollar fell to 119.50 yen from 119.98 yen late Wednesday. The euro rose to $1.0828 from $1.0725. Bond prices rose. The yield on the 10-year Treasury note declined to 1.95 percent from 1.98 percent late Wednesday.

In metals, gold rose $7.40 to $1,194.30 an ounce, silver rose 3 cents to $15.83 an ounce, and copper rose 3 cents to $2.69 a pound.


----------



## bigdog

*Lest We Forget*

*The phrase "lest we forget" forms the refrain of "Recessional." It introduces the reason for the entreaty expressed in the poem: that God might spare England from oblivion or profanity "lest we forget" the sacrifice of Christ ("Thine ancient sacrifice").

The phrase later passed into common usage after World War I across the British Commonwealth especially, becoming linked with Remembrance Day observations; it came to be a plea not to forget past sacrifices, and was often found as the only wording on war memorials, or used as an epitaph.*

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	21.45	points or ▲	0.12%	on	Friday, 24 April 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,080.14	▲	21.45	▲	0.12%		
	Nasdaq____	5,092.08	▲	36.02	▲	0.71%		
	S&P_500___	2,117.69	▲	4.76	▲	0.23%		
	30_Yr_Bond____	2.62	▼	-0.02	▼	-0.68%		

NYSE Volume	 3,355,276,250 	 	 	 	 	  		 
Nasdaq Volume	 1,875,132,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,070.70	▲	17.03	▲	0.24%		
	DAX_____	11,810.85	▲	87.27	▲	0.74%		
	CAC_40__	5,201.45	▲	22.54	▲	0.44%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,906.80	▲	86.50	▲	1.49%		
	Shanghai_Comp	4,393.69	▼	-20.82	▼	-0.47%		
	Taiwan_Weight	9,913.28	▲	115.79	▲	1.18%		
	Nikkei_225___	20,020.04	▼	-167.61	▼	-0.83%		
	Hang_Seng.__	28,060.98	▲	233.28	▲	0.84%		
	Strait_Times.__	3,513.00	▲	10.25	▲	0.29%		
	NZX_50_Index_	5,765.36	▲	7.45	▲	0.13%		

http://finance.yahoo.com/news/stocks-rise-tech-earnings-nasdaq-140959492.html

*Stocks rise on tech earnings; Nasdaq adds to record

Stocks rise on big tech earnings; Nasdaq composite adds to record*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks advanced slightly Friday as investors cheered the quarterly results of three large technology companies: Google, Microsoft and Amazon.

The modest gains helped close out a relatively strong week for U.S. stocks, with the three major indexes rising between 1.4 and 3.2 percent in five days. The Standard & Poor's 500 and Nasdaq composite closed at record highs.

Investors now prepare for the biggest week of earnings season. Next week, more than 150 companies in the S&P 500 will report their results, including such market-moving names as Apple, Ford, Visa, Pfizer and Exxon Mobil.

On Friday, The Dow Jones industrial average rose 21.45 points, or 0.1 percent, to 18,080.14. The S&P 500 rose 4.76 points, or 0.2 percent, to 2,117.69 and the Nasdaq rose 36.02 points, or 0.7 percent, to 5,092.08.

The Nasdaq beat its record of 5,048.62, set on March 10, 2000 at the height of the dot-com boom, on Thursday.

Microsoft, Amazon and Google all rose sharply after the releasing their quarterly results, which helped lift the Nasdaq more than the Dow or S&P 500. A common theme was signs that the companies were growing sales outside of their bread-and-butter businesses.

Amazon jumped $55.11, or 14 percent, to $445.10 in heavy trading. While the company reported a quarterly loss, Amazon showed it had 49 percent sales growth in Amazon Web Services, its cloud computing division. The promise that cloud computing could bolster Amazon's bottom line was enough to send investors flooding into the stock.

Microsoft rose $4.53, or 11 percent, to $47.87. The software giant had results that beat expectations, and like Amazon, showed promising growth in its cloud computing business. Lastly, Google rose $16.20, or 3 percent, to $573.66. The search and advertising company missed analysts' expectations; the company had strong growth in mobile advertising.

Investors have been looking for Google, Microsoft and Amazon to show some sort of progress outside their traditional businesses. Microsoft cannot solely rely on computer sales to drive its profits, Amazon has very low profit margins on the products it sells and Google is heavily exposed to desktop computer advertising while the world is shifting to mobile.

"I think we are starting to see actual evidence that their strategies are working, especially at Microsoft and Amazon," said Dan Morgan, a portfolio manager at Synovus Trust Company, who owns shares of all three companies.

Next week could be a make-or-break period for investors. So far, first quarter earnings have come in softer than what investors had anticipated, which has caused analysts to write down their forecasts. Most companies have blamed the U.S. dollar as a reason why sales and profits are down, but there are only so many excuses investors will accept before they sell.

First-quarter profits are expected to be down 2.8 percent from a year earlier. It would be the first time corporate profits have declined since the third quarter of 2012, according to FactSet.

In the energy markets, the price of U.S. crude oil fell 59 cents to close at $57.15 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 43 cents to close at $65.28 a barrel in London.

The dollar fell to 118.93 yen from 119.62 yen. The euro was little changed at $1.0866. U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 1.91 percent from 1.96 percent late Thursday.

In other energy futures trading on the NYMEX, wholesale gasoline rose 1.2 cents to close at $2.008 a gallon. Heating oil rose 0.4 cent to close at $1.928 a gallon. Natural gas was unchanged at $2.531 per 1,000 cubic feet.

In metals trading, gold fell $19.30 to $1,175 an ounce, silver fell 19 cents to $15.64 an ounce and copper rose five cents to $2.75 a pound.

2020


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-42.17	points or ▼	-0.23%	on	Monday, 27 April 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,037.97	▼	-42.17	▼	-0.23%		
	Nasdaq____	5,060.25	▼	-31.84	▼	-0.63%		
	S&P_500___	2,108.92	▼	-8.77	▼	-0.41%		
	30_Yr_Bond____	2.61	▼	-0.01	▼	-0.19%		

NYSE Volume	 3,438,881,750 	 	 	 	 	  		 
Nasdaq Volume	 2,147,460,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,103.98	▲	50.31	▲	0.71%		
	DAX_____	12,039.16	▲	228.31	▲	1.93%		
	CAC_40__	5,268.91	▲	67.46	▲	1.30%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,954.80	▲	48.00	▲	0.81%		
	Shanghai_Comp	4,527.40	▲	133.71	▲	3.04%		
	Taiwan_Weight	9,973.12	▲	59.84	▲	0.60%		
	Nikkei_225___	19,983.32	▼	-36.72	▼	-0.18%		
	Hang_Seng.__	28,433.59	▲	372.61	▲	1.33%		
	Strait_Times.__	3,515.85	▲	2.85	▲	0.08%		
	NZX_50_Index_	5,765.36	▲	7.45	▲	0.13%		

http://finance.yahoo.com/news/us-stocks-drop-start-busy-210330592.html

*US stocks drop at start of busy week for earnings,

US stocks drop ahead of busy week for earnings, Fed meeting; health care stocks fall sharply*
Associated Press By Bernard Condon, AP Business Writer
NEW YORK (AP) -- U.S. stocks slumped on Monday as investors looked ahead to a flood of earnings reports this week.

Stocks appeared headed for new highs in the morning, but drifted lower in afternoon as health care companies dropped sharply. Mylan, a maker of generic drugs, slumped nearly 6 percent. It was a downbeat note after strong gains last week, capped by a new record in the Nasdaq composite, 15 years after its dot-com era peak.

 With little news and stocks at highs, "I think we have some profit-taking here," said chief stock strategist Phil Orlando, of Federated Investors as stocks started moving lower in the afternoon.

The Dow Jones industrial average fell 42.17 points, or 0.2 percent, to close at 18,037.97. The Standard & Poor's 500 index fell 8.77 points, or 0.4 percent, to 2,108.92. The Nasdaq fell 31.84 points, or 0.6 percent, to 5,060.25.

The drops were broad, with seven of the 10 industry sectors of the S&P 500 down for day. Health care stocks fell the most, down 1.8 percent

One bright spot was Dow index component DuPont, which rose 4.6 percent after activist investor Nelson Peltz gained a powerful backer Monday in his effort to split the chemical maker into two companies. Proxy advisory firm Institutional Shareholder Services recommended shareholders give the billionaire investor two seats on DuPont's board.

More than 150 companies in the S&P 500 report quarterly results this week, including Ford, Visa, Pfizer and Exxon Mobil. Investors are anxious because falling oil prices and a strengthening dollar have hammered first-quarter results at some companies. Per-share earnings for the S&P 500 are expected to fall 0.8 percent from a year earlier, according to S&P Capital IQ, a provider of financial data.

That would be the first drop since 2009, though it is better than the 2.4 percent drop expected two months ago.

Investors are also worried about slumping revenue at many companies, thanks in part to the stronger dollar. That makes money generated overseas by big companies here worth less when translated back into the U.S currency. Companies can compensate by cutting costs, but it's not easy given all the cutting already.

"We're at the point in the cycle where revenue needs to pick up, but it's not," said David Lebovitz, global market strategist at J.P. Morgan Asset Management. He added, "I'm not so sure companies can slash their way to earnings; they're running pretty leanly."

Investors are also looking ahead to Wednesday when the Federal Reserve ends a two-day meeting where policymakers will discuss when to raise a key interest rate that has been held near zero for 6  ½ years. After its March meeting, the Fed opened the door to a rate increase this year by no longer saying it would be "patient" in starting to raise its benchmark rate.

The government also releases its estimate of economic growth in the January-March quarter. Gross domestic product is expected to have risen 1 percent, down from 2.2 percent in the previous quarter.

The rise in U.S. stocks in the morning followed gains in European markets that built toward their close. Investors were encouraged by news that Greece had reshuffled its team that is negotiating a bailout, raising hopes that it will be able to avert a default.

Some see the shake-up as a way to reduce the clout of Finance Minister Yanis Varoufakis, who has been criticized for failing to put together a list of changes that the country's European creditors want before they release new loans. Greece's government is expected to run out of money to pay its bills in another few weeks.

The Greek stock index rallied on the news, closing up 4.4 percent. France's CAC-40 index rose 1.3 percent and Germany's DAX jumped 1.9 percent.

In other stocks making moves, Applied Materials fell $1.83, or 8 percent, to $19.97 after calling off its $9.4 billion acquisition of Tokyo Electron Ltd. The two big semiconductor industry suppliers said that they were told by the Department of Justice that there were antitrust concerns.

Mylan dropped after the drugmaker rejected a $40 billion buyout offer from Teva Pharmaceuticals, a cash-and-stock deal that Mylan says undervalues it. The stock fell $4.34 to $71.72.

The dollar rose to 119.09 yen from 118.95 yen. The euro rose slightly to $1.0885 from $1.0883.

U.S. government bond prices fell, pushing up the yield on the 10-year Treasury to 1.93 percent.

The price of oil fell slightly Monday as concerns about hefty supplies offset signs that oil companies are cutting production. U.S. oil slipped 16 cents to $56.99 per barrel. Brent crude, a benchmark for many international oils used by U.S. refineries to make gasoline, fell 45 cents to $64.83 in London.

In other energy futures trading:

”” Wholesale gasoline was flat at $2.01 per gallon

”” Heating oil slipped 0.7 cent to $1.921 per gallon

”” Natural gas fell 4.1 cents to $2.49 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	72.17	points or ▲	0.40%	on	Tuesday, 28 April 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,110.14	▲	72.17	▲	0.40%		
	Nasdaq____	5,055.42	▼	-4.82	▼	-0.10%		
	S&P_500___	2,114.76	▲	5.84	▲	0.28%		
	30_Yr_Bond____	2.67	▲	0.06	▲	2.18%		

NYSE Volume	 3,546,427,250 	 	 	 	 	  		 
Nasdaq Volume	 1,992,896,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,030.53	▼	-73.45	▼	-1.03%		
	DAX_____	11,811.66	▼	-227.50	▼	-1.89%		
	CAC_40__	5,173.38	▼	-95.53	▼	-1.81%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,921.50	▼	-33.30	▼	-0.56%		
	Shanghai_Comp	4,476.21	▼	-51.18	▼	-1.13%		
	Taiwan_Weight	9,956.83	▼	-16.29	▼	-0.16%		
	Nikkei_225___	20,058.95	▲	75.63	▲	0.38%		
	Hang_Seng.__	28,442.75	▲	9.16	▲	0.03%		
	Strait_Times.__	3,495.09	▼	-20.76	▼	-0.59%		
	NZX_50_Index_	5,769.65	▲	4.30	▲	0.07%		

http://finance.yahoo.com/news/stocks-end-mostly-higher-company-203246577.html

*Stocks end mostly higher as company earnings reports pour in

US stocks edge higher as company earnings reports pour in; Twitter plunges on results*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks posted modest gains Tuesday as investors worked through another large batch of earnings reports.

Pharmaceutical stocks rose after drug giant Merck reported better-than-expected results. Twitter plunged nearly 20 percent after its results, which were released early, missed analysts' marks.

Earnings season is at its busiest this week, with more than 150 companies reporting their results, including Apple, Exxon Mobil, Ford and others. So far, earnings have been coming in better than the gloomy expectations analysts had at the beginning of the month.

But with stocks trading at all-time highs, there's little momentum for this market to barrel upward, strategists say.

"This market just feels tired to me," said Dan Morgan, a fund manager at Synovus Trust.

On Tuesday, the Dow Jones industrial average rose 72.17 points, or 0.4 percent, to 18,110.14. The Standard & Poor's 500 index rose 5.84 points, or 0.3 percent, to 2,114.76. The Nasdaq composite edged down 4.82 points, or 0.1 percent, to 5,055.42.

Merck rose $2.88, or 5 percent, to $59.88. While the company's profits fell 44 percent from a year ago, the results still handily beat analysts' estimates. Adjusted earnings for the maker of diabetes drugs Januvia and Janumet were 85 cents a share versus the 75 cents expected by analysts. Other health care stocks also rose, including Aetna, drugmaker AbbVie and laboratory equipment maker Waters Corp.

The Nasdaq ended lower partly because of Apple, which fell $2.09, or 1.6 percent, to $130.56.

The iPhone and computer and maker reported a record quarterly profit of $13.6 billion, but Apple's outlook was not as rosy as some analysts had predicted. Apple had $193.5 billion in cash on its balance sheet and plans on increasing its dividend and share buyback.

Twitter was the center of some late-day drama when its quarterly results were unexpectedly released before the market closed. Twitter's revenue missed analysts' expectations, sending its shares down $9.39, or 18 percent, to $42.27.

Much of the focus this week will be on the Fed's two-day policy meeting, which ends Wednesday. Policymakers are discussing when the Fed should start raising interest rates again. The Fed opened the door to rate increases after its March meeting, but some recent weak economic data might complicate that picture.

"What we do know is the Fed is going remain accommodative and keep interest rates low for the foreseeable future," said David Lefkowitz, senior equity strategy at UBS Wealth Management.

Another weak signal on the U.S. economy came out Tuesday. The Conference Board reported that its index of consumer confidence fell to the lowest level in four months as hiring slowed down.

The Conference Board said its index fell to 95.2 in April from 101.4 in March. That was the lowest since 93.1 in December. The survey's measure of how respondents assess current economic conditions fell for the third straight month. Their expectations for the future also fell.

In energy markets, the price of U.S. oil rose slightly while global crude slipped. Benchmark U.S. crude rose 7 cents to close at $57.06 a barrel in New York. Brent crude fell 19 cents to close at $64.64 a barrel in London.

In other energy futures trading on the New York Mercantile Exchange: wholesale gasoline fell 0.7 cent to close at $2.002 a gallon, heating oil fell 0.4 cents to close at $1.917 a gallon and natural gas rose 2.7 cents to close at $2.517 per 1,000 cubic feet.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 1.98 percent from 1.92 percent late Monday.

Precious and industrial metals futures closed mostly higher. Gold rose $10.70 to $1,213.90 an ounce. Silver gained 20 cents to $16.59 an ounce and copper edged up a penny to $2.78 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-74.61	points or ▼	-0.41%	on	Wednesday, 29 April 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,035.53	▼	-74.61	▼	-0.41%		
	Nasdaq____	5,023.64	▼	-31.78	▼	-0.63%		
	S&P_500___	2,106.85	▼	-7.91	▼	-0.37%		
	30_Yr_Bond____	2.74	▲	0.07	▲	2.74%		

NYSE Volume	 4,084,899,250 	 	 	 	 	  		 
Nasdaq Volume	 1,829,542,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,946.28	▼	-84.25	▼	-1.20%		
	DAX_____	11,432.72	▼	-378.94	▼	-3.21%		
	CAC_40__	5,039.39	▼	-133.99	▼	-2.59%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,818.20	▼	-103.30	▼	-1.74%		
	Shanghai_Comp	4,476.62	▲	0.41	▲	0.01%		
	Taiwan_Weight	9,853.83	▼	-103.00	▼	-1.03%		
	Nikkei_225___	20,058.95	▲	75.63	▲	0.38%		
	Hang_Seng.__	28,400.34	▼	-42.41	▼	-0.15%		
	Strait_Times.__	3,487.15	▼	-7.94	▼	-0.23%		
	NZX_50_Index_	5,740.82	▼	-28.84	▼	-0.50%		

http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*US stocks drop as economy grows at meager pace

US stocks drop as economy ekes out meager growth; Fed shows no sign of raising interest rates*
Associated Press By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- News that the economy skidded to a near halt in the first three months of the year helped push the stock market lower on Wednesday.

Battered by harsh weather, plunging exports and sharp cutbacks in oil and gas drilling, the overall economy grew at a barely discernible annual rate of 0.2 percent in the first quarter, the Commerce Department reported early in the day. It was the poorest showing in a year and down from 2.2 percent growth in the fourth quarter.

Stocks stayed lower after the Federal Reserve downgraded its assessment of the economy and appeared no closer to raising its benchmark interest rate from close to zero.

The stock market, trading close to record levels, is struggling to maintain its upward momentum at the start of the seventh year of a bull-market run. The S&P 500 index has gained only 2.3 percent in the first four months of the year and is fluctuating between small gains and losses. That's a trend that may continue for a while yet.

"We're in a period of indecisiveness, where things could stay muddled for a while, without any really compelling case to either drive things back up ... or, on the other hand, to send things back into a major pullback," said Katrina Lamb, head of investment strategy and research at MV Financial, a wealth management firm.

The Standard & Poor's 500 index fell 7.91 points, or 0.4 percent, to 2,106.85. The Dow Jones industrial average dropped 74.61 points, or 0.4 percent, or 18,035.53 points. The Nasdaq declined 31.78 points, or 0.6 percent, to 5,023.64.

In addition to news from the Fed and on the economy, investors were also looking at the latest corporate earnings.

Starwood Hotels and Resorts surged after the company's board of directors said it would explore a "full range" of strategic and financial options for the company. Starwood also reported earnings that surpassed analysts' expectations. The stock climbed $6.73, or 8.3 percent, to $87.53.

Buffalo Wild Wings slumped $24.35, or 12.8 percent, to $160.25 after the company reported disappointing first-quarter results. The company said its net income and revenue grew. But the price of chicken wings surged and Buffalo Wild Wings' costs were also boosted by the chain's expansion.

Overall, company earnings are coming in better than had been expected.

Just over half of the companies in the S&P 500 have now reported their first-quarter numbers, and analysts are forecasting that average earnings will grow by just 0.2 percent, according to data from S&P Capital IQ. While that is a sharp slowdown from a 7.8 percent growth rate in the fourth quarter of last year, it is much better than the decline of 3.1 percent that analysts had expected at the start of the month.

That slowdown is being driven by a big drop in earnings at energy companies, caused by a plunge in the price of oil, as well as a stronger dollar, which is eating away at the value of overseas sales for global companies based in the U.S. Most investors remain confident that many of the factors weighing on the economy are transitory, and that growth will accelerate in the second quarter, said Russ Koesterich, chief investment strategist at BlackRock. However, if that scenario doesn't play out, trading could become more volatile in the second half of the year. "The narrative is that the economy rebounds in the second quarter and earnings rebound with it," said Russ Koesterich, chief investment strategist at BlackRock. "If it wasn't all about the weather or temporary factors ... then that is where you might get some more volatility this summer."

In other corporate news, shares of Salesforce.com surged as investors reacted to a report that the business software company had been approached by an unidentified suitor.

A Bloomberg story, citing unnamed people, stirred speculation that Salesforce might be sold to rival Oracle Corp. in a deal that could be worth $50 billion. Salesforce jumped $7.76, or 11.6 percent, to $74.65.

In currency trading, the euro climbed to $1.1116 from $1.0972, after the weaker-than-forecast report on the U.S. economy. That's the currency's highest level against the dollar in almost two months. The dollar rose to 118.98 yen from 118.82 yen late Tuesday

Government bond prices fell. The yield on the 10-year Treasury note rose to 2.04 percent from 2 percent late Tuesday.

In energy trading, U.S. benchmark crude oil rose $1.52 to $58.58 a barrel in New York, its highest closing price of the year. Brent crude, the international benchmark for oil, climbed $1.20 to $65.84.

In other energy futures trading on the New York Mercantile Exchange: wholesale gasoline rose 1.6 cents to close at $2.018 a gallon, heating oil rose 3.2 cents to close at $1.948 a gallon and natural gas rose 6.9 cents to close at $2.606 per 1,000 cubic feet.

Precious and industrial metals futures were little changed. Gold fell $3.90 to settle at $1,210 an ounce, silver rose eight cents to $16.67 an ounce and copper rose two cents to $2.80 an ounce.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	183.54	points or ▲	1.03%	on	Friday, 1 May 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,024.06	▲	183.54	▲	1.03%		
	Nasdaq____	5,005.39	▲	63.97	▲	1.29%		
	S&P_500___	2,108.29	▲	22.78	▲	1.09%		
	30_Yr_Bond____	2.83	▲	0.07	▲	2.69%		

NYSE Volume	 3,419,650,500 	 	 	 	 	  		 
Nasdaq Volume	 1,831,669,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,985.95	▲	25.32	▲	0.36%		
	DAX_____	11,454.38	▲	21.66	▲	0.19%		
	CAC_40__	5,046.49	▲	7.10	▲	0.14%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,798.80	▲	25.10	▲	0.43%		
	Shanghai_Comp	4,441.66	▼	-34.96	▼	-0.78%		
	Taiwan_Weight	9,820.05	▼	-33.78	▼	-0.34%		
	Nikkei_225___	19,531.63	▲	11.62	▲	0.06%		
	Hang_Seng.__	28,133.00	▼	-267.34	▼	-0.94%		
	Strait_Times.__	3,487.39	▲	0.24	▲	0.01%		
	NZX_50_Index_	5,797.40	▲	6.06	▲	0.10%		

http://finance.yahoo.com/news/stocks-end-higher-bouncing-back-200826054.html

*Stocks end higher, bouncing back from a drop the day before

Stocks end higher on Wall Street, bouncing back from a drop the day before*
Associated Press By Matthew Craft, AP Business Writer
May 1, 2015 

NEW YORK (AP) -- The stock market bounced back on Friday as investors picked up companies that had dropped earlier in the week. Major indexes recovered nearly all their losses from a fall the day before.

"It's an odd day in the markets," said Jack Ablin, chief investment officer at BMO Private Bank. The news out Friday was mostly disappointing, he said. Big corporations' earnings reports weren't all that good.

Expedia was an exception. The online travel company turned in sales that topped Wall Street's estimates, driving its stock up $7.46, or 8 percent, to $101.69.

The Standard & Poor's 500 index climbed 22.78 points, or 1.1 percent, to finish at 2,108.29. That's after dropping 1 percent the day before.

The Dow Jones industrial average gained 183.54 points, or 1 percent, to 18,024.06, while the Nasdaq composite rose 63.97 points, 1.3 percent, to 5,005.39.

Charlie Smith, chief investment officer at Fort Pitt Capital Group, cautioned against reading too much into a day with light trading. "The rally is fun," he said, "but it doesn't mean much."

The Nasdaq lost 1.7 percent for the week as investors sold many of the technology companies that have fared well this year. Strong gains for Apple and other tech stocks helped the Nasdaq finally topple a record high last Thursday. So, what changed?

Smith said Apple's earnings had something to do with it. Apple is big enough that its moves can swing the Nasdaq higher or lower. Last week, investors bought Apple's stock in anticipation of another blowout earnings report when the tech giant reported results Monday. In the three days afterward, Apple's stock lost 6 percent.

LinkedIn plunged after the online networking service warned of weaker earnings in the months ahead, a result of the stronger dollar and the company's pending purchase of Lynda.com, an online learning company. Twitter continued a slump started earlier in the week when the company turned in disappointing sales and cut its revenue outlook. Twitter dropped $1.12, or 3 percent, to $37.84, while LinkedIn lost $46.92, or 19 percent, to $205.21.

Roughly a third of all the companies in the S&P 500 reported first-quarter results this week, and the news was mixed. Falling oil prices and a rising dollar hammered many of them. Analysts expect companies in the S&P 500 will say overall earnings inched up 0.6 percent compared with the same period of last year, according to S&P Capital IQ, a provider of financial information. But revenue is expected to drop 1.4 percent.

Ablin said that investors are wrestling with a slew of diverging trends. Recent reports have raised concerns about the economy's strength. On Wednesday, the government said that it nearly stopped growing in the first three months of the year. To some investors that's not such bad news: Weak economic growth could lead the Federal Reserve to postpone its plans to raise a key borrowing rate. Record low interest rates have helped the stock market soar since the financial crisis.

"Economic data has recently been disappointing," Ablin said, "but that keeps the Fed offstage."

In Europe, the only major market open for trading was in Britain, where the FTSE 100 finished with a gain of 0.4 percent.

Japan's Nikkei 225 rose 0.1 percent, and Australia's S&P/ASX 200 added 0.4 percent. New Zealand's benchmark rose 0.1 percent. Most markets in Asia and Europe were closed for the International Workers Day holiday.

Back in the U.S., government bond prices sank, pushing the yield on the 10-year Treasury note up to 2.12 percent from 2.03 percent the day before.

In commodities trading, gold dropped $7.90 to end at $1,174.50 an ounce, while silver lost 2 cents to $16.14 an ounce. Copper added 4 cents to $2.93 a pound.

Oil fell nearly 1 percent Friday, the first trading day in May, following a gain of more than 20 percent the month before. U.S. oil slid 48 cents, or 0.8 percent, to $59.15 a barrel. Brent crude slipped 32 cents, or 0.5 percent, to $66.46 a barrel.

In other trading:

—Wholesale gasoline was barely changed at $2.045 a gallon.

—Heating oil crept up 0.2 cent to $1.982.

—Natural gas rose 2.5 cents to $2.776 per 1,000 cubic feet.

3038


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	46.34	points or ▲	0.26%	on	Monday, 4 May 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,070.40	▲	46.34	▲	0.26%		
	Nasdaq____	5,016.93	▲	11.54	▲	0.23%		
	S&P_500___	2,114.49	▲	6.20	▲	0.29%		
	30_Yr_Bond____	2.87	▲	0.04	▲	1.49%		

NYSE Volume	 3,092,168,000 	 	 	 	 	  		 
Nasdaq Volume	 1,641,476,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,985.95	▲	25.32	▲	0.36%		
	DAX_____	11,619.85	▲	165.47	▲	1.44%		
	CAC_40__	5,081.97	▲	35.48	▲	0.70%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,815.90	▲	17.10	▲	0.29%		
	Shanghai_Comp	4,480.46	▲	38.81	▲	0.87%		
	Taiwan_Weight	9,845.04	▲	24.99	▲	0.25%		
	Nikkei_225___	19,531.63	▲	11.62	▲	0.06%		
	Hang_Seng.__	28,123.82	▼	-9.18	▼	-0.03%		
	Strait_Times.__	3,482.70	▼	-4.69	▼	-0.13%		
	NZX_50_Index_	5,767.08	▼	-30.32	▼	-0.52%		


http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*US stocks gain, pushing the market close to record levels

US stocks climb, pushing the market close to record levels; Cognizant jumps on earnings*
Associated Press By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The stock market closed just short of a record on Monday as investors assessed some positive earnings reports.

Cognizant Technology Solutions, a technology consulting business, was the biggest gainer in the Standard & Poor's 500 index after it reported earnings that beat the expectations of Wall Street analysts and raised its outlook for earnings and sales for the year. Tyson Foods, the maker of Jimmy Dean sausage products, was another company whose stock gained after posting strong earnings.

Corporate earnings for the first quarter have surpassed analysts' expectations, growing slightly rather than contracting, as had been forecast. That's helping boost demand for stocks, keeping alive a bull market that is now in its seventh year.

"Earnings haven't been as bad as people were expecting ... the picture isn't too bad," said Sean Lynch, Co-Head of Global Equity Strategy for Wells Fargo Investment Institute.

The Standard & Poor's 500 index rose 6.20 points, or 0.3 percent, to 2,114.49, within three points of its all-time high reached on April 24. The Dow Jones industrial average climbed 46.34 points, or 0.3 percent, to 18,070.40. The Nasdaq composite gained 11.54 points, or 0.2 percent, to 5,016.93.

Stocks also got a lift from the first gain in factory orders since last summer.

Orders rose in March for the first time since last July, breaking a long stretch of weakness in manufacturing. The increase of 2.1 percent followed seven monthly declines, the Commerce Department reported Monday. Also, orders in a key category that tracks business investment plans eked out a 0.1 percent rise. It was the first advance in the category since last August.

The most closely watched piece of economic news this week will come out on Friday, when the government releases its monthly jobs report. Investors follow the survey closely because they believe it will give them insight into when the Federal Reserve may raise interest rates.

Fed policy makers have heled their benchmark interest rate close to zero since 2008. Most investors expect that they will refrain from raising rates until the second half of the year at the earliest, to allow the economy more time to strengthen.

Although the economy slowed in the first three months of the year, companies have still managed to continue to increase their earnings.

Average earnings-per-share for S&P 500 companies are forecast to rise by 1.7 percent in the first quarter, according to data from S&P Capital IQ. While the pace of growth has slowed from the final quarter of 2014, it is a much better performance than analysts were expecting at the start of April. At that time analysts were predicting a slump of 3.1 percent.

On Monday, Cognizant Technology Solutions beat Wall Street analysts' forecasts and raised its earnings and sales outlook for the year. The stock climbed $3.64, or 6.2 percent, to $62.78.

Tyson Foods rose 60 cents, or 1.5 percent, to $41.09 after its earnings were better than analysts predicted.

In bond trading, prices edged lower.

The yield on the 10-year Treasury note, which moves in the opposite direction to its price, climbed 2.14 percent from 2.12 percent on Friday.

Gold rose $12.30, or 1 percent, to $1,186.80 an ounce. Silver climbed 30.6 cents, or 1.9 percent, $16.44 an ounce and copper fell a penny $2.92 a pound.

In energy trading, oil slipped slightly. Benchmark U.S. crude fell 22 cents to close at $58.93 a barrel on the New York Mercantile Exchange. Brent crude fell a penny to close at $66.45 a barrel in London.

The euro gave up some of its recent gains, falling to $1.1148 from $1.1192. The dollar fell to 120.13 yen from 120.28 yen.

In other energy futures trading on the NYMEX:

       ”” Wholesale gasoline fell 1.1 cents to close at $2.034 a gallon.

       ”” Heating oil fell 0.3 cents to close at $1.979 a gallon.

       ”” Natural gas rose 4.5 cents to close at $2.821 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-142.2	points or ▼	-0.79%	on	Tuesday, 5 May 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,928.20	▼	-142.20	▼	-0.79%		
	Nasdaq____	4,939.33	▼	-77.60	▼	-1.55%		
	S&P_500___	2,089.46	▼	-25.03	▼	-1.18%		
	30_Yr_Bond____	2.91	▲	0.04	▲	1.29%		

NYSE Volume	 3,794,350,500 	 	 	 	 	  		 
Nasdaq Volume	 2,029,572,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,927.58	▼	-58.37	▼	-0.84%		
	DAX_____	11,327.68	▼	-292.17	▼	-2.51%		
	CAC_40__	4,974.07	▼	-107.90	▼	-2.12%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,816.20	▲	0.30	▲	0.01%		
	Shanghai_Comp	4,298.71	▼	-181.76	▼	-4.06%		
	Taiwan_Weight	9,820.13	▼	-24.91	▼	-0.25%		
	Nikkei_225___	19,531.63	▲	11.62	▲	0.06%		
	Hang_Seng.__	27,755.54	▼	-368.28	▼	-1.31%		
	Strait_Times.__	3,471.19	▼	-11.51	▼	-0.33%		
	NZX_50_Index_	5,787.79	▲	20.71	▲	0.36%		

http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*
US stocks sink as oil price jumps above $60

Stocks sag, ending a 2-day run; oil rises above $60 a barrel and jitters over Greece return*
Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- A combination of concerns knocked the U.S. stock market lower Tuesday, snapping a two-day run.

Crude oil climbed above $60 a barrel for the first time this year, raising expectations for rising inflation and interest rates. Greece's government remained in a standoff with its European creditors as a debt payment looms next week.

"There are some jitters," said Bill Stone, chief investment officer at PNC Asset Management Group. "Greece is definitely part of it. The other part is oil prices going up. That implies more inflation."

Major indexes wavered at the outset of trading, drifted lower throughout the morning, then spent the afternoon slowly ceding ground.

The Standard & Poor's 500 index lost 25.03 points, or 1.2 percent, to 2,089.46. The Dow Jones industrial average dropped 142.20 points, or 0.8 percent, to 17,928.20, while the Nasdaq composite fell 77.60 points, or 1.6 percent, to 4,939.33.

The price of oil jumped $1.47 to close at $60.40 a barrel, the first time crude has traded that high since early December, following reports that a Libyan oil terminal had closed. Brent crude rose $1.07 to $67.52 in London.

An impasse in talks between Greece and its lenders raised concerns about the country's ability to handle an upcoming debt payment. Greece will have to scrounge for cash to make a payment of 750 million euros (the equivalent of $840 million) to the International Monetary Fund due on May 12.

Among companies turning in results on Tuesday, Kellogg reported that its quarterly earnings slumped 44 percent as a rising U.S. dollar took a bite out of sales. The maker of Frosted Flakes and Pop Tarts fell 95 cents, or 1 percent, to $63.18.

Walt Disney's stock hit an all-time high after it delivered quarterly results that beat Wall Street's estimates, thanks, in part, to rising revenue from its Walt Disney World Resort and other theme parks. Last weekend, its "Avengers: Age of Ultron" had the second-biggest domestic opening behind the first "Avengers." Disney's stock gave up its early gain and ended the day slightly lower, down 22 cents at $110.81.

The first-quarter earnings season has given investors little to celebrate, said Tim Dreiling, a senior portfolio manager at a division of U.S. Bank Wealth Management. Roughly seven out of every 10 companies in the S&P 500 have reported results that beat analysts' estimates for quarterly profit, according to S&P Capital IQ. Yet more than half have fallen short of revenue targets. "That's what is concerning," Dreiling said.

Major markets in Europe slumped. France's CAC-40 sank 2.1 percent, while Germany's DAX fell 2.5 percent. Britain's FTSE 100 slipped 0.8 percent. European government bond prices also fell, shooting government borrowing costs up.

The Shanghai Composite Index in mainland China had its worst day in months, losing 4.1 percent, in turn dragging down Hong Kong's Hang Seng 1.3 percent. Markets in Japan, South Korea and Thailand were shut for holidays.

Back in the U.S., government bond prices fell, nudging the yield on the 10-year Treasury note up to 2.18 percent from 2.15 percent the day before.

In commodities trading, gold rose $6.40 to end at $1,193.20 an ounce, while silver picked up 14 cents to $16.58 an ounce. Copper added 1 cent to $2.94 a pound.

In other trading on the New York Mercantile Exchange:

”” Wholesale gasoline rose 2.9 cents to close at $2.063 a gallon.

”” Heating oil rose 3.6 cents to close at $2.015 a gallon.

”” Natural gas fell 4.1 cents to close at $2.780 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-86.22	points or ▼	-0.48%	on	Wednesday, 6 May 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,841.98	▼	-86.22	▼	-0.48%		
	Nasdaq____	4,919.64	▼	-19.68	▼	-0.40%		
	S&P_500___	2,080.15	▼	-9.31	▼	-0.45%		
	30_Yr_Bond____	2.99	▲	0.08	▲	2.75%		

NYSE Volume	 3,789,947,250 	 	 	 	 	  		 
Nasdaq Volume	 2,086,102,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,933.74	▲	6.16	▲	0.09%		
	DAX_____	11,350.15	▲	22.47	▲	0.20%		
	CAC_40__	4,981.59	▲	7.52	▲	0.15%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,690.90	▼	-125.30	▼	-2.15%		
	Shanghai_Comp	4,229.27	▼	-69.44	▼	-1.62%		
	Taiwan_Weight	9,818.20	▼	-1.93	▼	-0.02%		
	Nikkei_225___	19,531.63	▲	11.62	▲	0.06%		
	Hang_Seng.__	27,640.91	▼	-114.63	▼	-0.41%		
	Strait_Times.__	3,459.79	▼	-11.40	▼	-0.33%		
	NZX_50_Index_	5,765.27	▼	-22.52	▼	-0.39%		

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3
*
Stocks drop on weak jobs data, jitters over Yellen comments

US stocks fall broadly on weak jobs data, Yellen comments; bond yields, oil price rise again*
Associated Press By Bernard Condon, AP Business Writer

NEW YORK (AP) -- U.S. stocks fell across industries on Wednesday as investors worried over stock valuations, economic growth and rising interest rates.

Markets started the day higher, propelled by a jump in energy stocks, but then quickly gave up the gains. A comment from Federal Reserve Chair Janet Yellen suggesting that stocks are generally overvalued added to the selling pressure.

Uncertainty over how quickly interest rates will climb also weighed on markets as yields on bonds continued to rise. Some market experts think the Fed will have to increase its short-term rate relatively soon to fight inflation. The yield on 10-year U.S. Treasury note rose to 2.23 percent, its highest level in two months.

"There are creeping worries that inflation, which was seen as non-existent, will soon be part of landscape," said Mark Luschini, chief investment strategist for Janney Montgomery Scott. "There is data suggesting the Federal Reserve will not be in a hurry to raise rates, but people are worried."

Eight of the 10 industry sectors of the Standard and Poor's 500 index ended the day lower, led by a 1.2 percent slump in telecommunications companies.

The S&P 500 fell 9.31 points, or 0.5 percent, to 2,080.15. The Dow Jones industrial average dropped 86.22 points, or 0.5 percent, to 17,841.98. The Nasdaq composite declined 19.68 points, or 0.4 percent, to 4,919.64.

In economic news, U.S. payroll processor ADP said hiring slowed in April to its weakest pace in nearly a year and a half. But a separate report showed labor costs jumped 5 percent in the first quarter, after a 4.2 percent rise in the fourth quarter.

"I think we're going to get higher rates, and the stock market is going to struggle with this," said Wells Capital Management chief strategist Jim Paulsen, noting that the unemployment rate fell to 5.5 percent in March, down nearly half from its peak less than six years ago. "It doesn't take much to overheat when you're near full employment."

Investors will get a clearer picture on Friday, when the government releases its monthly survey on hiring and unemployment.

The decline in stocks accelerated in midmorning trading after Yellen said market valuations were generally "quite high" in response to a question about risks to financial stability at a conference in Washington.

The S&P 500 now trades at 17.5 times what companies in the index earned in the past 12 months, according to FactSet, a data provider. That is higher, meaning more expensive, than the 10-year average of 14.6 times.

Corporate earnings reports were mixed. Video game maker Electronic Arts rose 3 percent and Lending Club rose 4 percent after reporting results that beat analysts' expectations. EA rose $1.77 to $60.93 and Lending Club rose 73 cents to $18.31.

News Corp., the publisher of The Wall Street Journal, fell $1.03, or 6.4 percent, to $14.99 after its results missed forecasts. Restaurant chain Noodles & Co. also reported disappointing results, and investors sent its stock down $4.01, or 19 percent, to $16.70.

In deal news, shares of Synageva BioPharma soared 112 percent after Alexion Pharmaceuticals said it would pay a huge premium to buy the maker of rare disease treatments in an $8.4 billion deal. Synageva has no products on the market and lost nearly $60 million in the first quarter. Its stock rose $107.52 to $203.39.

The price of oil rose on an unexpected drop in crude oil supplies in the U.S. Benchmark U.S. crude rose 53 cents to close at $60.93 a barrel in New York after having reached as high as $62.58 during the day.

Crude climbed above $60 a barrel for the first time this year on Tuesday following reports that a Libyan oil terminal had closed.

Brent crude rose 25 cents to close at $67.77 in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 2.6 cents to close at $2.037 a gallon.

”” Heating oil rose 0.1 cent to close at $2.016 a gallon.

”” Natural gas fell 0.4 cents to close at $2.776 per 1,000 cubic feet.

The dollar weakened to 119.30 yen from 119.93 yen. The euro strengthened to $1.1369 from $1.1184.

Gold fell $2.90 to $1,190.30 an ounce, silver fell seven cents to $16.50 an ounce and copper fell a penny to $2.93 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	82.08	points or ▲	0.46%	on	Thursday, 7 May 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,924.06	▲	82.08	▲	0.46%		
	Nasdaq____	4,945.54	▲	25.90	▲	0.53%		
	S&P_500___	2,088.00	▲	7.85	▲	0.38%		
	30_Yr_Bond____	2.91	▼	-0.08	▼	-2.58%		

NYSE Volume	 3,704,130,750 	 	 	 	 	  		 
Nasdaq Volume	 2,007,518,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,886.95	▼	-46.79	▼	-0.67%		
	DAX_____	11,407.97	▲	57.82	▲	0.51%		
	CAC_40__	4,967.22	▼	-14.37	▼	-0.29%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,644.80	▼	-46.10	▼	-0.81%		
	Shanghai_Comp	4,112.21	▼	-117.05	▼	-2.77%		
	Taiwan_Weight	9,704.11	▼	-114.09	▼	-1.16%		
	Nikkei_225___	19,291.99	▼	-239.64	▼	-1.23%		
	Hang_Seng.__	27,289.97	▼	-350.94	▼	-1.27%		
	Strait_Times.__	3,432.78	▼	-27.01	▼	-0.78%		
	NZX_50_Index_	5,729.35	▼	-35.92	▼	-0.62%		

http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*US stock indexes edge higher a day after a drop

US stocks edge higher after sell-off the day before; Yellen's comments remain in focus*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks rose moderately Thursday in relatively quiet trading, a contrast to the heavy selling that occurred a day earlier when Federal Reserve Chair Janet Yellen suggested that stock prices might be too high.

The bigger action was in the bond market. U.S. Treasurys rose sharply in the afternoon, sending benchmark yields lower, a day after a flood of selling.

Yellen caught investors off-guard Wednesday by saying stock values were generally "quite high." She was speaking response to a question about risks to financial stability at a conference in Washington.

Historically, Fed officials do not usually offer opinions about market levels. In the mid-1990s, stocks swooned after then-Fed chairman Alan Greenspan used the term "irrational exuberance" when talking about the market.

"Investors remain confused as to where this market wants to go," said Jonathan Corpina, a managing partner at Meridian Equity Partners.

Many investors agree that the U.S. stock market is trading at stretched levels. Quarterly corporate earnings, which are ultimately what stocks are valued off of, were better than expected, but those expectations were low in the first place.

Now, with Yellen's comments, some analysts say stocks are unlikely to advance much further from here. Investors are paying about $17 for every dollar of earnings in the Standard & Poor's 500, not excessively high but still above the $15 that investors have historically paid for similar results.

"This market just feels tired. I just see us moving sideways for a while," said Wayne Wilbanks, chief investment officer at Wilbanks, Smith, Thomas in Norfolk, Va., which manages about $2.4 billion in assets.

The Dow rose 82.08 points, or 0.5 percent, to 17,924.06, effectively erasing the losses from the previous prior. The S&P 500 rose 7.85 points, or 0.4 percent, to 2,088 and the Nasdaq composite index rose 25.90 points, or 0.5 percent, to 4,945.54.

Even with today's gains, the major indexes are down between 0.6 percent and 1.2 percent for the week.

The next big thing on investors' plates will be the April jobs report, which comes out Friday. Economists expect U.S. employers added 215,000 jobs in April and the unemployment rate ticked down to 5.4 percent. The March jobs report was much weaker than Wall Street had anticipated, so economists and investors are going to be looking for any significant revisions to the previous numbers.

The bond market had a neck-twisting day as bond prices rose sharply. The yield on the 10-year Treasury note fell to 2.19 percent from 2.25 percent late Wednesday, an unusually large move.

Among individual companies, Whole Foods Market lost $4.65, or 10 percent, to $43.07 after the company's reported sales growth for the first quarter that was weaker than analysts had expected.

Yelp jumped $8.79, or 23 percent, to $47.01 after The Wall Street Journal reported that the online review website is exploring a sale.

In energy markets, oil fell more than 3 percent because of gains in the U.S. dollar, which makes oil more expensive for holders of other currencies.

U.S. oil dropped $1.99, or 3.3 percent, to $58.94 per barrel. That marked the biggest drop in U.S. oil since April 8. Brent crude, a benchmark for international oils used by U.S. refineries to make gasoline, fell $2.23 to $65.54 per barrel.

In trading in other energy futures, wholesale gasoline fell 4.6 cents to $1.99 per gallon, heating oil dropped 5.4 cents to $1.962 per gallon and natural gas fell 4.2 cents to $2.734 per 1,000 cubic feet.

The dollar rose to 119.77 yen from 119.32 yen. The euro fell to $1.1271 from $1.1354.

The price of gold fell $8.10 to $1,182.20 an ounce, silver fell 21 cents to $16.30 an ounce and copper fell a penny to $2.92 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	267.05	points or ▲	1.49%	on	Friday, 8 May 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,191.11	▲	267.05	▲	1.49%		
	Nasdaq____	5,003.55	▲	58.00	▲	1.17%		
	S&P_500___	2,116.10	▲	28.10	▲	1.35%		
	30_Yr_Bond____	2.90	▼	-0.01	▼	-0.31%		

NYSE Volume	 3,399,567,750 	 	 	 	 	  		 
Nasdaq Volume	 1,928,335,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,046.82	▲	159.87	▲	2.32%		
	DAX_____	11,709.73	▲	301.76	▲	2.65%		
	CAC_40__	5,090.39	▲	123.17	▲	2.48%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,635.40	▼	-9.40	▼	-0.17%		
	Shanghai_Comp	4,205.92	▲	93.70	▲	2.28%		
	Taiwan_Weight	9,692.00	▼	-12.11	▼	-0.12%		
	Nikkei_225___	19,379.19	▲	87.20	▲	0.45%		
	Hang_Seng.__	27,577.34	▲	287.37	▲	1.05%		
	Strait_Times.__	3,452.01	▲	19.23	▲	0.56%		
	NZX_50_Index_	5,735.35	▲	6.00	▲	0.10%		

http://finance.yahoo.com/news/us-stocks-jump-most-since-203953259.html

*US stocks jump the most since March following hiring gains

Stocks surge the most since March after US reports a pickup in hiring; Monster Beverage sinks*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- The U.S. stock market had its best day in two months Friday following good news about the job market.

The surge was enough to push two of the three major U.S indexes to gains for the week.

Investors were encouraged that U.S. employers added 223,000 jobs in April, a solid gain suggesting that the economy may be recovering after a stumbling start to the year.

While the jobs report is always closely watched, April's survey garnered even more interest than usual after a poor March, which had revised figures showing only 85,000 jobs were added to payrolls.

"I am even more convinced that the March report was an outlier," Paul Christopher, an investment strategist with Wells Fargo Advisors. "We all know the first quarter was a tough quarter. The jobs numbers needed to hold up and they did."

The Dow Jones industrial average jumped 267.05 points, or 1.5 percent, to 18,191.11 Friday. The Standard & Poor's 500 index added 28.10 points, or 1.4 percent, 2,116.10, its biggest percentage gain since March 16. The Nasdaq composite rose 58 points, or 1.2 percent, to 5,003.55.

Both the Dow and S&P 500 ended fractionally higher for the week, while the Nasdaq ended down less than 0.1 percent.

The bond market had a more nuanced take on the employment report. Investors bought bonds, pushing down the yield on the U.S. 10-year Treasury note to 2.14 percent from 2.18 percent Thursday. That rate had been as high as 2.30 percent just two days ago, representing a big move for that market.

Bond traders noted that while the job survey was positive overall, there were several troubling signs, including sluggish wage growth. The disappointing March number also cast doubt on how solid the economy's footing is. As a result, they said, the Federal Reserve could hold off longer than previously expected before raising interest rates.

"These numbers are starting to lead investors to the same conclusion that the Fed will not lift rates through 2015," said Tom di Galoma at ED&F Man Capital.

European markets also rose sharply after David Cameron's Conservative Party won an outright majority in Britain's Parliament, greatly reducing the threat of political uncertainty there.

Britain's FTSE 100 rose 2.3 percent, Germany's DAX rose 2.6 percent and France's CAC 40 gained 2.5 percent. Prices for European government bonds rose broadly, sending yields lower.

The British pound advanced sharply against the dollar and euro.

"The U.K. general election result is a surprisingly market-friendly outcome," said Vicky Redwood from Capital Economics in London.

Visa was among the biggest gainers in the S&P 500 and Dow. Shares in the payment processor jumped in late-afternoon trading after Bloomberg News reported Visa is in talks to buy Visa Europe, which was split off in 2007.

The price of oil rose slightly at the end of a volatile week. Benchmark U.S. crude rose 45 cents to close at $59.39 a barrel on the New York Mercantile Exchange. Brent crude fell 15 cents Friday to close at $65.39 in London.

In other energy futures trading on the NYMEX, wholesale gasoline rose 0.2 cent to close at $1.992 a gallon, heating oil fell 0.8 cent to close at $1.954 a gallon and natural gas rose 14.6 cents to close at $2.880 per 1,000 cubic feet.

In metals trading, gold rose $6.70 to $1,188.90 an ounce, silver rose 17 cents to $16.47 an ounce and copper was little changed at $2.92 a pound.

3588


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-85.94	points or ▼	-0.47%	on	Monday, 11 May 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,105.17	▼	-85.94	▼	-0.47%		
	Nasdaq____	4,993.57	▼	-9.98	▼	-0.20%		
	S&P_500___	2,105.33	▼	-10.77	▼	-0.51%		
	30_Yr_Bond____	3.04	▲	0.14	▲	4.72%		

NYSE Volume	 2,992,633,750 	 	 	 	 	  		 
Nasdaq Volume	 1,710,091,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,029.85	▲	142.90	▲	2.07%		
	DAX_____	11,673.35	▼	-36.38	▼	-0.31%		
	CAC_40__	5,027.87	▼	-62.52	▼	-1.23%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,627.60	▼	-7.80	▼	-0.14%		
	Shanghai_Comp	4,333.58	▲	127.67	▲	3.04%		
	Taiwan_Weight	9,663.72	▼	-28.28	▼	-0.29%		
	Nikkei_225___	19,620.91	▲	241.72	▲	1.25%		
	Hang_Seng.__	27,718.20	▲	140.86	▲	0.51%		
	Strait_Times.__	3,470.80	▲	18.79	▲	0.54%		
	NZX_50_Index_	5,747.95	▲	12.60	▲	0.22%		

http://finance.yahoo.com/news/us-stock-indexes-edge-lower-204728180.html

*US stock indexes edge lower, led by the energy sector

US stocks drift lower, led by energy sector, as market comes off its biggest gain in 2 months*
Associated Press By Alex Veiga, AP Business Writer

The U.S. stock market took a small step back on Monday, giving up some of its big gains from last week.

Crude oil prices fell, pulling down energy stocks. Exxon Mobil lost 1.7 percent, the most in the Dow Jones industrial average. The price of oil slipped as traders weighed declining drilling in the U.S. against rising gasoline supplies that could crimp demand for crude in the coming weeks. Benchmark U.S. crude fell 14 cents to close at $59.25 a barrel in New York.

The market was coming off its biggest gain in two months on Friday following news that U.S. employers added 223,000 jobs in April, a solid gain suggesting that the economy may be recovering after a stumbling start to the year.

That sentiment helped cool off demand for bonds on Monday. As a result, the yield on the 10-year Treasury note rose to 2.26 percent, its highest level of the year so far, from 2.15 percent late Friday.

"It's a day of digestion after big news and a big move on Friday," said Eric Wiegand, a senior portfolio manager at U.S. Bank Wealth Management.

The Dow fell 85.94 points, or 0.5 percent, to 18,105.17. The Standard & Poor's 500 index lost 10.77 points, or 0.5 percent, to 2,105.33. The Nasdaq composite slipped 9.98 points, or 0.2 percent, to 4,993.57. The three indexes are up for the month and year.

The indexes barely budged much of the day. Absent major new economic data, investors mostly focused Monday on the latest corporate deal news and company earnings.

Noble Energy's $2.1 billion all-stock buyout of rival oil and gas production company Rosetta Resources failed to impress traders, however. Noble's shares slumped $3.05, or 6.2 percent, to $46.07. It was the biggest decliner among S&P 500 companies.

The slide in oil prices also hurt stock prices for several other oil producers and drilling equipment companies. QEP Resources fell $1.13, or 5.2 percent, to $20.46, while Pioneer Natural Resources slid $6.07, or 3.8 percent, to $152.99. National Oilwell Varco shed $1.90, or 3.6 percent, to $51.33.

"We have crude down a little bit today and energy stocks are having a tough time," said JJ Kinahan, TD Ameritrade's chief strategist.

The 10 sectors in the S&P 500 declined, led by energy stocks. The sector is down 0.2 percent for the year.

The rest of this week should provide traders some insight into a key facet of the U.S. economy: consumer spending.

Several major retailers report quarterly results, including Macy's, J.C. Penney, Nordstrom and Kohl's. Also, the government reports its latest monthly tally of retail sales on Wednesday.

"Are the people out there spending money? That's what we need to see next," Kinahan said. "That's what everybody is having a bit of trouble figuring out."

In other energy futures trading, Brent crude, a benchmark for international oil used by many U.S. refineries, fell 48 cents to close at $64.91 in London. Wholesale gasoline fell 0.6 cents to close at $1.986 a gallon, while heating oil fell 0.9 cent to close at $1.945 a gallon. Natural gas fell 7.8 cents to close at $2.802 per 1,000 cubic feet.

In metals trading, gold fell $5.90 to $1,183 an ounce, silver fell 15 cents to $16.31 an ounce and copper fell two cents to $2.90 a pound.

Markets in Europe were mixed as traders looked for progress on the latest bailout for Greece. European finance ministers met on Monday to discuss the issue, but emerged without a deal. A debt default would destabilize Greece, potentially causing it to fall out of the eurozone. France's CAC 40 fell 1.2 percent, while Germany's DAX shed 0.3 percent. Britain's FTSE 100 edged up 0.2 percent.

The Shanghai Composite Index jumped 3 percent after the People's Bank of China cut interest rates for the third time in half a year, the central bank's latest bid to shore up sputtering economic growth. Elsewhere in Asia, Japan's Nikkei 225 rose 1.3 percent, while South Korea's Kospi gained 0.6 percent and Hong Kong's Hang Seng added 0.5 percent.

Among U.S. stocks making big moves Monday:

— Better-than-expected quarterly results sent shares in Actavis and Dean Foods higher. Actavis rose $8.92, or 3 percent, to $301.74, while Dean Foods gained $1.05, or 6.4 percent, to $17.33.

— Monster Beverage surged after a Citi analyst upgraded the energy drink maker. The stock jumped $5.53, or 4.3 percent, to $134.01.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-36.94	points or ▼	-0.20%	on	Tuesday, 12 May 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,068.23	▼	-36.94	▼	-0.20%		
	Nasdaq____	4,976.19	▼	-17.38	▼	-0.35%		
	S&P_500___	2,099.12	▼	-6.21	▼	-0.29%		
	30_Yr_Bond____	3.02	▼	-0.02	▼	-0.56%		

NYSE Volume	 3,160,062,750 	 	 	 	 	  		 
Nasdaq Volume	 1,669,256,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,933.80	▼	-96.05	▼	-1.37%		
	DAX_____	11,472.41	▼	-200.94	▼	-1.72%		
	CAC_40__	4,974.65	▼	-53.22	▼	-1.06%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,673.10	▲	45.50	▲	0.81%		
	Shanghai_Comp	4,401.22	▲	67.64	▲	1.56%		
	Taiwan_Weight	9,680.73	▲	17.01	▲	0.18%		
	Nikkei_225___	19,624.84	▲	3.93	▲	0.02%		
	Hang_Seng.__	27,407.18	▼	-311.02	▼	-1.12%		
	Strait_Times.__	3,442.33	▼	-28.47	▼	-0.82%		
	NZX_50_Index_	5,746.23	▼	-1.72	▼	-0.03%		

http://finance.yahoo.com/news/us-stocks-edge-lower-amid-182941849.html

*US stocks edge lower amid bond market volatility

US stock indexes edge lower as investors weigh bond market action; AOL soars*
Associated Press By Alex Veiga, AP Business Writer

A spike in long-term interest rates rattled investors Tuesday, nudging major U.S. stock indexes lower for the second day in a row.

The market nearly clawed back all the way from an early slump that dragged the Dow Jones industrial average down as much as 180 points in the first half-hour of trading. The price of oil closed above $60 a barrel for just the third time this year, giving a boost to energy stocks.

Traders around the world have been selling off government bonds in recent weeks. That trend accelerated on Tuesday, bringing down bond prices and, in turn, driving up the benchmark U.S. bond yield to the highest level since late November. Weakness in bond prices pushes up the cost of borrowing, including mortgages and other loans, which can act as drag on the economy.

"A dramatic increase in yields brought our market down in the morning, and as the pressure on the bonds eased up the stock market came back," said David Chalupnik, head of equities at Nuveen Asset Management.

The Dow fell 36.94 points, or 0.2 percent, to 18,068.23. The Standard & Poor's 500 index lost 6.21 points, or 0.3 percent, to 2,099.12. The Nasdaq composite slid 17.38 points, or 0.4 percent, to 4,976.19. The three indexes are up for the month and year.

The indexes headed lower as soon as regular trading opened on Tuesday, following declines in European markets as the bond market sell-off sent yields higher.

The yield on the 10-year German government bond rose to 0.67 percent from 0.61 percent the day before. It traded as low as 0.08 percent last month.

In the U.S., the yield on the 10-year Treasury note surged as high as 2.36 percent. The selling eased by late afternoon and the yield fell to 2.25 percent, down from 2.28 percent late Monday. The yield was below 2 percent as recently as April 28.

"Bonds had been at such lofty prices that a sell-off was somewhat expected," said Chris Gaffney, president of EverBank World Markets.

Investors also had their eye on the latest batch of company earnings and some headline-grabbing corporate deals.

Verizon agreed to buy Internet pioneer AOL for about $4.4 billion, a 15 percent premium to its closing price on Monday. Shares in AOL jumped 18.6 percent. The stock added $7.93 to $50.52. Verizon slipped 18 cents, or 0.4 percent, to $49.62.

Shares in water and air filter maker Pall vaulted 19.4 percent on a published report that the company is close to being acquired. The stock added $19.31 to $118.62.

Traders sold off shares in clothing chain operator Gap and cloud computing company Rackspace Hosting after each reported quarterly results that were crimped by the strong U.S. dollar. Gap fell $1.51, or 3.8 percent, to $38.36, while Rackspace slid $7.17, or 13.5 percent, to $45.96.

Eight of the 10 sectors in the S&P 500 moved lower. Materials stocks dropped the most. The sector is up 4.3 percent this year. Energy led the gainers. It's up 0.3 percent for the year.

In Europe, Britain's FTSE 100 fell 1.4 percent and Germany's DAX sank 1.7 percent. France's CAC 40 dropped 1.1 percent. In Asia, Japan's Nikkei 225 closed flat. South Korea's Kospi was little changed. Hong Kong's Hang Seng was down 1.1 percent, while Australia's S&P/ ASX 200 rose 0.9 percent. China's Shanghai Composite index advanced 1.6 percent.

Benchmark U.S. crude rose $1.50 to close at $60.75 in New York. Brent crude, a benchmark for international oil used by many U.S. refineries, climbed $1.95 to close at $66.86 in London.

In other futures trading on the NYMEX, wholesale gasoline rose 5 cents to close at $2.039 a gallon, while heating oil rose 5 cents to close at $2 a gallon. Natural gas rose 10 cents to close at $2.90 per 1,000 cubic feet.

In metals trading, gold rose $9.40 to $1,192.40 an ounce, silver gained 21 cents to $16.53 and copper increased three cents to $2.93 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-7.74	points or ▼	-0.04%	on	Wednesday, 13 May 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,060.49	▼	-7.74	▼	-0.04%		
	Nasdaq____	4,981.69	▲	5.50	▲	0.11%		
	S&P_500___	2,098.48	▼	-0.64	▼	-0.03%		
	30_Yr_Bond____	3.07	▲	0.05	▲	1.69%		

NYSE Volume	 3,379,705,750 	 	 	 	 	  		 
Nasdaq Volume	 1,648,494,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,949.63	▲	15.83	▲	0.23%		
	DAX_____	11,351.46	▼	-120.95	▼	-1.05%		
	CAC_40__	4,961.86	▼	-12.79	▼	-0.26%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,710.80	▲	37.70	▲	0.66%		
	Shanghai_Comp	4,375.76	▼	-25.46	▼	-0.58%		
	Taiwan_Weight	9,724.11	▲	43.38	▲	0.45%		
	Nikkei_225___	19,764.72	▲	139.88	▲	0.71%		
	Hang_Seng.__	27,249.28	▼	-157.90	▼	-0.58%		
	Strait_Times.__	3,453.17	▲	10.84	▲	0.31%		
	NZX_50_Index_	5,751.76	▲	5.53	▲	0.10%		

http://finance.yahoo.com/news/us-stock-indexes-end-mostly-205113961.html

*US stock indexes end mostly lower after a listless day

US stock indexes close mostly lower as investors weigh US retail sales data, corporate deals*
Associated Press By Alex Veiga, AP Business Writer

Weak U.S. retail sales data helped set the stage Wednesday for a listless day of trading on Wall Street.

Coming off a two-day losing streak, the major stock indexes spent much of the day drifting between small gains and losses before ending mostly lower.

Technology stocks were among the biggest gainers, sending the tech-heavy Nasdaq composite slightly higher. The Dow Jones industrial average and Standard & Poor's 500 index notched their third straight loss. The price of U.S. oil fell.

In addition to corporate deals and earnings news, traders had their eye on the Commerce Department's latest monthly snapshot of retail sales. The report, a bellwether for consumer spending, showed retail sales were essentially flat in April, falling short of Wall Street's forecasts. All told, retail sales have risen just 0.9 percent over the past 12 months.

"The retail sales numbers were really crucial in terms of assessing whether or not the rebound from the first quarter was gaining momentum," said Quincy Krosby, market strategist for Prudential Financial. "It leaves a lingering concern as to whether or not there's something more at work keeping the economy from rebounding."

The Dow Jones industrial average fell 7.74 points, or 0.04 percent, to 18,060.49. The Standard & Poor's 500 index shed 0.64 points, or 0.03 percent, to 2,098.48. The Nasdaq composite added 5.50 points, or 0.1 percent, to 4,981.69.

The indexes are up for the month and year.

The markets barely budged from the get-go on Wednesday, absent the global bond market sell-off that rattled investors a day earlier. After a brief dip, bond prices rose, sending the yield on the 10-year Treasury note up to 2.28 percent from 2.25 percent late Tuesday.

Traders got a look at the disappointing retail sales report early on.

Even so, the major stock indexes made only minor moves and spent much of the afternoon higher before arriving at an uneven finish.

Why wasn't there a bigger drop in the market? Because some investors anticipate the weaker sales data could give the Federal Reserve one more reason to put off lowering its key interest rate until at least September, said Phil Orlando, chief equity strategist at Federated Investors.

"The Fed is looking at this data too, and if you thought they would be considering a rate hike in June, I don't see how you do that on the basis of this data point," Orlando said. Low interest rates favor stocks.

Investors also got some insight into retail spending from one of the biggest department store operators, Macy's.

The retailer said its profit slumped 13 percent in the first quarter as it faced delayed merchandise shipments from the West Coast port slowdown, severe winter weather and lower spending by international tourists. Macy's results fell short of Wall Street's expectations. The stock lost $1.60, or 2.4 percent, to $63.73.

Traders also took a dim view of Artic Cat's latest financial results, which included revenue that fell short of financial analysts' forecasts. Arctic Cat slid $2.56, or 7.3 percent, to $32.51.

EZchip Semiconductor tumbled 24.2 percent after the network processor delivered a disappointing customer update. The stock fell $4.73 to $14.84.

Investors bid up stocks in a couple of companies that announced acquisitions.

Owens-Illinois, which makes beer and wine bottles, jumped 9.2 percent after saying it would buy a glass container business from the Mexican company Vitro. The stock gained $2.19 to $26.98.

Shares in Williams Companies rose 6.2 percent on news that the gas infrastructure company is buying Williams Partners in a $13.8 billion stock deal. The stock added $3.11 to $53.21.

Six of the 10 sectors in the S&P 500 moved lower. Utilities stocks declined the most. The sector is down 8.8 percent this year. Technology stocks notched the biggest gain. That sector is now up 3.1 percent this year.

The price of U.S. oil fell 25 cents to $60.50 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 5 cents to $66.81 a barrel in London. In other futures trading on the New York Mercantile Exchange, wholesale gasoline rose less than a penny to $2.041 a gallon, while heating oil rose half a penny to $2.005 a gallon. Natural gas gained 3.8 cents to $2.935 per 1,000 cubic feet.

In metals trading, gold jumped $25.80 to $1,218.20 an ounce, silver rose 70 cents to $17.22 an ounce and copper edged down less than a penny to $2.93 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	191.75	points or ▲	1.06%	on	Thursday, 14 May 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,252.24	▲	191.75	▲	1.06%		
	Nasdaq____	5,050.79	▲	69.10	▲	1.39%		
	S&P_500___	2,121.10	▲	22.62	▲	1.08%		
	30_Yr_Bond____	3.06	▼	-0.01	▼	-0.23%		

NYSE Volume	 3,207,805,250 	 	 	 	 	  		 
Nasdaq Volume	 1,703,440,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,973.04	▲	23.41	▲	0.34%		
	DAX_____	11,559.82	▲	208.36	▲	1.84%		
	CAC_40__	5,029.31	▲	67.45	▲	1.36%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,692.50	▼	-18.30	▼	-0.32%		
	Shanghai_Comp	4,378.31	▲	2.55	▲	0.06%		
	Taiwan_Weight	9,610.83	▼	-113.28	▼	-1.16%		
	Nikkei_225___	19,570.24	▼	-194.48	▼	-0.98%		
	Hang_Seng.__	27,286.55	▲	37.27	▲	0.14%		
	Strait_Times.__	3,454.04	▲	0.87	▲	0.03%		
	NZX_50_Index_	5,738.40	▼	-13.35	▼	-0.23%		

http://finance.yahoo.com/news/us-stock-indexes-end-higher-205424240.html

*US stock indexes end higher, breaking three-day slump

Encouraging jobs and inflation data help lift US stocks, push S&P 500 to new high*
Associated Press By Alex Veiga, AP Business Writer


U.S. stocks rebounded Thursday, snapping a three-day losing streak for the Dow Jones industrial average and the Standard & Poor's 500 index.

Encouraging data on the U.S. job market and inflation helped lift the market, pushing the S&P 500 to a record high. The Dow came within 36 points of its own record. The indexes are up for the month and year.

Technology and consumer staples stocks were among the biggest gainers. The price of U.S. oil fell on continuing concerns about high global supplies.

The Dow rose 191.75 points, or 1.1 percent, to 18,252.24. The S&P 500 index gained 22.62 points, or 1.1 percent, to 2,121.10. That's three points higher than its previous closing high of 2,117.69 on April 24.

The Nasdaq composite added 69.10 points, or 1.4 percent, to 5,050.80.

The 10 sectors in the S&P 500 closed higher, with technology stocks leading the pack. The sector is up 4.8 percent this year.

"We've been at roughly this level of the S&P for almost three months," said David Lefkowitz, senior equity strategist at UBS Wealth Management Americas. "We're up 1 percent today and that's a decent move."

After a mostly downbeat week in the markets, trading got off to a strong start early Thursday as investors weighed the two Labor Department reports.

The government said fewer people applied for unemployment aid last week, pushing the four-week average down to its lowest level since April 2000. Unemployment benefit applications are a proxy for layoffs, so the very low level is evidence that Americans are enjoying more job security.

It is also a sign employers are confident enough in the economy to hold on to their employees, despite signs of sluggish growth.

A separate index that tracks the prices of goods and services before they reach consumers declined 0.4 percent last month. That could signal that the Federal Reserve will hold off on raising its key interest rate until this fall, said Erik Davidson, chief investment officer for Wells Fargo Private Bank.

"Inflation is not a big issue," he said. "The market consensus has to be that it will be September or later that the Fed will move."

Investors are trying to gauge when the Federal Reserve will move to raise short-term interest rates for the first time in more than six years. The central bank has said it wants to see annual inflation heading toward 2 percent, a sign of a healthier economy.

Beyond economic data, traders had their eye on the latest batch of corporate earnings and deal news.

Ctrip.com International surged 8.8 percent after the Chinese travel services company reported better-than-expected first-quarter financial results and a strong outlook. The stock gained $5.78 to $71.14.

Traders also bid up shares in Perry Ellis International. The clothing maker's first-quarter earnings trumped Wall Street forecasts and the company also raised its earnings forecast for the year. Perry Ellis climbed $2.06, or 8.6 percent, to $26.09.

Some companies' latest financial results failed to live up to expectations.

Kohl's plunged 13.3 percent after the retailer reported that its first-quarter revenue and a key sales measure fell short of Wall Street's forecasts, even as the company posted a better-than-expected profit for the quarter. The stock lost $9.89 to $64.62.

In energy trading, benchmark U.S. crude oil fell 62 cents to close at $59.88 a barrel in New York. Brent crude, a benchmark for international oil used by many U.S. refineries, fell 22 cents to close at $66.59 in London.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.24 percent from 2.29 percent late Wednesday.

Wholesale gasoline rose 1.7 cents to close at $2.058 a gallon, while heating oil rose 0.1 cent to close at $2.006 a gallon. Natural gas rose 7.3 cents to close at $3.008 per 1,000 cubic feet.

Precious and industrial metals futures closed mixed. Gold edged up $7 to $1,225.20 an ounce, silver rose 24 cents to $17.47 an ounce and copper edged down less than a penny to $2.92 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	20.32	points or ▲	0.11%	on	Friday, 15 May 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,272.56	▲	20.32	▲	0.11%		
	Nasdaq____	5,048.29	▼	-2.50	▼	-0.05%		
	S&P_500___	2,122.73	▲	1.63	▲	0.08%		
	30_Yr_Bond____	2.92	▼	-0.14	▼	-4.60%		

NYSE Volume	 3,097,247,250 	 	 	 	 	  		 
Nasdaq Volume	 1,634,362,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,960.49	▼	-12.55	▼	-0.18%		
	DAX_____	11,447.03	▼	-112.79	▼	-0.98%		
	CAC_40__	4,993.82	▼	-35.49	▼	-0.71%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,730.00	▲	37.50	▲	0.66%		
	Shanghai_Comp	4,308.69	▼	-69.62	▼	-1.59%		
	Taiwan_Weight	9,579.48	▼	-31.35	▼	-0.33%		
	Nikkei_225___	19,732.92	▲	162.68	▲	0.83%		
	Hang_Seng.__	27,822.28	▲	535.73	▲	1.96%		
	Strait_Times.__	3,463.10	▲	7.32	▲	0.21%		
	NZX_50_Index_	5,760.38	▲	21.97	▲	0.38%		

http://finance.yahoo.com/news/us-stock-indexes-end-mostly-205648196.html

*US stock indexes end mostly higher; S&P hits new high

S&P 500 notches second straight record high after a day of mostly listless trading; oil falls*
Associated Press By Alex Veiga, AP Business Writer

U.S. stock indexes spent Friday mostly drifting between tiny gains and losses, but the small moves were enough to nudge the Standard & Poor's 500 index to its second record high in two days.

The Dow Jones industrial average also notched a gain for the second day in a row. The Nasdaq bucked the trend, closing slightly lower.

Utilities stocks were among the biggest gainers as investors weighed a mix of U.S. economic data and corporate earnings news. The price of U.S. oil fell slightly, ending a second week in a row nearly flat just under $60 a barrel.

Despite the latest milestone, it was a mostly listless day on Wall Street, as traders appeared content to hold off on major moves following Thursday's big rally.

"Often, in fact, there's a bit of selling pressure in these situations as many people want to book some profits after these days," said JJ Kinahan, TD Ameritrade's chief strategist.

The Dow rose 20.32 points, or 0.1 percent, to 18,272.56. That's within 16 points of its record set on March 2.

The S&P 500 index gained 1.63 points, or 0.1 percent, to 2,122.73. The Nasdaq slipped 2.50 points, or 0.1 percent, to 5,048.29. The three indexes are up for the month and year.

Trading got off to a sluggish start early Friday and remained mostly muted, with the major indexes hovering near their prior-day totals.

Separate reports on Friday offered a mixed assessment of U.S. manufacturing. The Federal Reserve said factory activity in New York increased slightly in May, suggesting that manufacturers are beginning to adapt to the challenges caused by a stronger dollar, lower oil prices and restrained consumer spending. Meanwhile, U.S. industrial output fell for the fifth straight month in April. The trend suggests that weakness in manufacturing and mining are weighing heavily on the economy.

Other reports this week have also shown diverging trends for the U.S. economy. The Commerce Department's U.S. retail sales report for April fell short of Wall Street's forecasts. But the latest figures on applications for unemployment aid and inflation were more encouraging.

"This week, on balance, the economic reports have been a little soggy," said Bob Doll, chief equity strategist at Nuveen Asset Management. "We're muddling through and the market is just fine with that."

Investors are gauging how well the U.S. economy is doing as they try to anticipate when the Federal Reserve will raise short-term interest rates for the first time in more than six years. Many economists anticipate the central bank won't increase rates before September.

Seven of the 10 sectors in the S&P 500 index rose, led by utilities stocks. The sector remains down 6.7 percent this year. Financials fared the worst. The sector is down 0.3 percent for the year.

Netflix was among the big gainers in the S&P 500, climbing 4.5 percent following a published report saying that the video streaming service is in talks to begin doing business in China. The stock rose $26.40 to $613.25.

Companies reporting better-than-expected quarterly earnings or outlooks were among the big gainers Friday. Darling Ingredients climbed $1.55, or 11 percent, to $15.64.

Others failed to live up to expectations, however.

Dillard's reported weak first-quarter financial results, which pulled the department store chain's shares down 7 percent. The stock lost $8.74 to $115.46.

Keurig Green Mountain sank 8.6 percent as investors worried that the company's new cold-drink machine is priced too high. The stock lost $8.81 to $94.26.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.15 percent from 2.23 percent late Thursday.

In energy trading, benchmark U.S. crude fell 19 cents to close at $59.69 a barrel in New York. U.S. oil ended last week at $59.39 and the week before at $59.15. Brent crude for July delivery, a benchmark for international oil used by many U.S. refineries, fell 11 cents to close at $66.81 in London. The June Brent contract expired Thursday at $66.59.

In other futures trading on the NYMEX, wholesale gasoline fell 0.1 cent to close at $2.057 a gallon. Heating oil fell 0.1 cent to close at $2.005 a gallon. Natural gas rose 0.8 cents to close at $3.016 per 1,000 cubic feet.

Precious and industrial metals futures edged mostly higher. Gold increased 10 cents to $1,225.30 an ounce, silver also rose 10 cents to $17.56 an ounce and copper was unchanged at $2.92 a pound.

4357


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	26.32	points or ▲	0.14%	on	Monday, 18 May 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,298.88	▲	26.32	▲	0.14%		
	Nasdaq____	5,078.44	▲	30.15	▲	0.60%		
	S&P_500___	2,129.20	▲	6.47	▲	0.30%		
	30_Yr_Bond____	3.02	▲	0.10	▲	3.28%		

NYSE Volume	 2,891,517,000 	 	 	 	 	  		 
Nasdaq Volume	 1,601,132,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,968.87	▲	8.38	▲	0.12%		
	DAX_____	11,594.28	▲	147.25	▲	1.29%		
	CAC_40__	5,012.31	▲	18.49	▲	0.37%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,660.00	▼	-70.00	▼	-1.22%		
	Shanghai_Comp	4,283.49	▼	-25.20	▼	-0.58%		
	Taiwan_Weight	9,606.10	▲	26.62	▲	0.28%		
	Nikkei_225___	19,890.27	▲	157.35	▲	0.80%		
	Hang_Seng.__	27,591.25	▼	-231.03	▼	-0.83%		
	Strait_Times.__	3,459.57	▼	-3.53	▼	-0.10%		
	NZX_50_Index_	5,772.71	▲	12.33	▲	0.21%		

http://finance.yahoo.com/news/us-stocks-close-higher-third-201824633.html

*US stocks close higher for a third day; Dow, S&P at records

Stocks edge higher in quiet trading; Dow, S&P 500 indexes close at new records*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- The stock market crept to a record high in a quiet session on Monday.

Investors had little news to weigh because most major companies have finished reporting first-quarter results.

The Dow Jones industrial average added 26.32 points, or 0.1 percent, to 18,298.88. The Standard & Poor's rose 6.47 points, or 0.3 percent, to 2,129.20 and the Nasdaq composite rose 30.15 points, or 0.6 percent, to 5,078.44.

Among the winners was Apple, which rose $1.42, or 1 percent, to $130.19. Activist investor Carl Icahn published a letter Monday calling for the technology giant to buy back more of its own stock. Icahn said Apple is worth $240 a share. Apple and Icahn have fought the last couple of years, but Icahn has been mostly successful at getting Apple to increase its share buybacks and dividends recently.

While the S&P 500 has notched record highs for three straight days, strategists caution that it will be difficult for the stock market to move substantially higher from here.

First-quarter results are tallied up, and the Federal Reserve appears to be waiting to raise interest rates until later this year.

"We will need to see a clear turnaround in the economic data and start to see earnings growth for investors to find some confidence in this market," said David Lebovitz, a global market strategist with JPMorgan Funds.

There were a couple minor corporate deals to work through. Ann Inc., the parent company of Ann Taylor and Loft, jumped $7.69, or 20 percent, to $46.40 after it agreed to be acquired by The Ascena Retail Group. Pharmaceutical company Endo International fell $4.58, or 5.4 percent, to $80.77 after it agreed to buy the privately held Par Pharmaceutical for $8 billion.

In the energy markets, the price of oil fell for the fourth straight session Monday. Oil has been drifting lower on high supplies of crude and fuels, and a rising dollar has been making oil less attractive to overseas buyers.

Benchmark U.S. crude fell 26 cents to close at $59.43 a barrel in New York. Brent crude, a benchmark for international oil used by many U.S. refineries, fell 54 cents to close at $66.27 in London.

In other futures trading on the NYMEX, wholesale gasoline fell 1.6 cents to close at $2.041 a gallon, heating oil fell 1.8 cents to close at $1.987 a gallon and natural gas fell 0.6 cent to close at $3.010 per 1,000 cubic feet.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.23 percent from 2.15 percent Friday.

The euro slipped $1.1304 from $1.1390 on Friday. The dollar climbed to 120 yen from 119.38 yen on Friday.

In metals trading, gold rose $2.30 to $1,227.60 an ounce, silver rose 17 cents to $17.73 an ounce and copper edged down two cents to $2.91 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	13.51	points or ▲	0.07%	on	Tuesday, 19 May 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,312.39	▲	13.51	▲	0.07%		
	Nasdaq____	5,070.03	▼	-8.41	▼	-0.17%		
	S&P_500___	2,127.83	▼	-1.37	▼	-0.06%		
	30_Yr_Bond____	3.04	▲	0.02	▲	0.63%		

NYSE Volume	 3,296,513,500 	 	 	 	 	  		 
Nasdaq Volume	 1,718,982,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,995.10	▲	26.23	▲	0.38%		
	DAX_____	11,853.33	▲	259.05	▲	2.23%		
	CAC_40__	5,117.30	▲	104.99	▲	2.09%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,619.40	▼	-40.60	▼	-0.72%		
	Shanghai_Comp	4,417.55	▲	134.06	▲	3.13%		
	Taiwan_Weight	9,716.77	▲	110.67	▲	1.15%		
	Nikkei_225___	20,026.38	▲	136.11	▲	0.68%		
	Hang_Seng.__	27,693.54	▲	102.29	▲	0.37%		
	Strait_Times.__	3,454.04	▼	-5.53	▼	-0.16%		
	NZX_50_Index_	5,757.16	▼	-15.55	▼	-0.27%		

http://finance.yahoo.com/news/us-stock-market-drifts-latest-205101785.html

*US stock market drifts from latest record highs

US stock indexes drift in afternoon trading as market comes off latest record high; Oil falls*

Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- The stock market slipped back from its latest record high in a listless day of trading Tuesday. Oil companies and drillers tugged major indexes down as the price of crude oil dropped for a fifth day straight.

Wal-Mart Stores fell after reporting weak sales and a drop in quarterly earnings, a result of raises for workers and a rising dollar squeezing its profits. Wal-Mart's stock sank $3.49, or 4 percent, to $76.43.

Major indexes headed lower at the opening of trading, wavered between tiny gains and losses throughout the morning then spent much of the afternoon sitting still.

The Standard & Poor's 500 index has gained 2 percent this month, setting record highs along the way. "But it hasn't felt like it," said Hank Smith, chief investment officer at Haverford Trust. "The market pulls back slightly one day, then moves ahead. It has been a grind."

The S&P 500 lost 1.37 points, a sliver of a percent, to 2,127.83. The Nasdaq composite dipped 8.41 points, or 0.2 percent, to 5,070.03.

The Dow Jones industrial average managed a slight gain, edging up 13.51 points, or 0.1 percent, to 18,312.39. That marked the fourth straight daily gain for the Dow.

The government reported that builders started work on new houses at the fastest pace in seven years. Housing starts jumped 20.2 percent to an annual rate of 1.14 million homes, the fastest clip since November 2007.

The news helped lift shares in D.R. Horton, PulteGroup and other builders. "The housing market comes back in the spring, is what realtors always say, and boy is this true today," said Christopher Rupkey, chief financial economist at MUFG Union Bank, in a note to clients.

In other trading, Take-Two Interactive, the company behind the "Grand Theft Auto" video games, surged 18 percent after posting earnings that trounced analysts' estimates. The company's stock jumped $4.42 to $28.62.

Major indexes in Europe closed with solid gains. Germany's DAX surged 2.2 percent, while France's CAC 40 picked up 2.1 percent. Britain's FTSE 100 rose 0.4 percent.

The rally in Europe came after an official with the European Central Bank said that it would step up its bond-buying program in May and June to avoid slow trading in the summer months. The ECB's effort tends to support stock and bond markets while weakening the euro.

In another development, Greece's finance minister said he expects his government will reach an agreement with its creditors within the next week, potentially saving the cash-strapped country from defaulting on its debts. The talks have run on for almost four months.

In China, the Shanghai Composite Index rose 3.1 percent, while Hong Kong's Hang Seng added 0.4 percent. Japan's Nikkei 225 rose 0.7 percent.

Back in the U.S., government bond prices fell, pushing the yield on the benchmark 10-year Treasury note up to 2.28 percent from 2.24 percent late Monday.

In other commodity markets, precious and industrial metals took a hard fall. Gold dropped $20.90 to settle at $1,206.70 an ounce and silver sank 66 cents to $17.07 an ounce. Copper lost 7 cents to $2.84 a pound.

The price of oil fell sharply Tuesday, extending its slide for a fifth day in a row. A rising dollar made oil, which is priced in dollars, more expensive for overseas buyers. Benchmark U.S. crude fell $2.17 to close at $57.26 a barrel in New York. Brent crude, a benchmark for international oil used by many U.S. refineries, fell $2.25 to close at $64.02 in London.

In other trading on the New York Mercantile Exchange:

— Wholesale gasoline fell 4.6 cents to close at $1.995 a gallon.

— Heating oil fell 5.8 cents to close at $1.929 a gallon.

— Natural gas fell 6.2 cents to close at $2.948 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-26.99	points or ▼	-0.15%	on	Wednesday, 20 May 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,285.40	▼	-26.99	▼	-0.15%		
	Nasdaq____	5,071.74	▲	1.71	▲	0.03%		
	S&P_500___	2,125.85	▼	-1.98	▼	-0.09%		
	30_Yr_Bond____	3.05	▲	0.02	▲	0.49%		

NYSE Volume	 3,042,478,500 	 	 	 	 	  		 
Nasdaq Volume	 1,759,400,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,007.26	▲	12.16	▲	0.17%		
	DAX_____	11,848.47	▼	-4.86	▼	-0.04%		
	CAC_40__	5,133.30	▲	16.00	▲	0.31%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,614.00	▼	-5.40	▼	-0.10%		
	Shanghai_Comp	4,446.29	▲	28.74	▲	0.65%		
	Taiwan_Weight	9,685.31	▼	-31.46	▼	-0.32%		
	Nikkei_225___	20,196.56	▲	170.18	▲	0.85%		
	Hang_Seng.__	27,585.05	▼	-108.49	▼	-0.39%		
	Strait_Times.__	3,439.68	▼	-14.36	▼	-0.42%		
	NZX_50_Index_	5,755.79	▼	-1.38	▼	-0.02%		

http://finance.yahoo.com/news/stocks-barely-move-yet-another-205254916.html

*Stocks barely move in yet another listless day for markets

US stock indexes close with tiny changes after another listless day of trading; Etsy plunges*

Associated Press By Bernard Condon, AP Business Writer

NEW YORK (AP) -- The stock market showed little life on Wednesday as it closed yet another trading day barely changed from the day before.

Major indexes flitted between tiny gains and losses in the morning, rallied a bit after the Federal Reserve released minutes from its last meeting, then petered out toward the close. The Standard and Poor's 500 ended lower, but barely ”” down just 0.09 percent.

It was the fourth day in a row that the index moved less than one-half of one percentage point.

"There's no real reason to rally and no real reason to decline," said Matthew Tuttle, CEO of money manager Tuttle Tactical Management. "It's been really boring."

The S&P 500 closed down 1.98 points to 2,125.85. The Dow Jones industrial average slipped 26.99 points, or 0.2 percent, to 18,285.40. The Nasdaq composite rose 1.71 points, less than 0.1 percent, to 5,071.74.

Stocks fell from the opening of trading as investors weighed the latest batch of earnings reports for the first quarter. Etsy plunged 18 percent after its first earnings report as a publicly traded company showed a hefty quarterly loss. Stock in the e-commerce retailer of crafts dropped $3.80 to $17.20.

With most companies out with their results, earnings per share for S&P 500 stocks are expected to have risen 3 percent from a year ago, according to S&P Capital IQ, a data provider. That is better than the drop that financial analysts had been predicted in early March, but still low by recent standards.

More worrisome for markets, analysts have been slashing their forecasts for future quarters, too. At the beginning of 2015, they were expecting a 7 percent jump in S&P 500 earnings for the full year. Now they expect an increase of less than 1 percent.

The tiny move down for the Dow on Wednesday came after four straight gains.

Ernie Cecilia, chief investment officer of Bryn Mawr Trust, said investors have feared missing out on a six-year bull market that never seems to falter.

"Even in the brief sell-offs, it seems investors and money managers are buying on weakness," he said.

The minutes of the Fed's meeting from April showed that policymakers at the central bank generally thought June was too early to raise rates. Stocks have been propelled higher in part by easy money policies at central banks. A rate increase would be the first since the global financial crisis.

Among stocks making moves:

”” Staples fell 26 cents, or 1.6 percent, to $16.15 after reporting a sharp drop in first-quarter earnings.

”” Lowe's sank 4.6 percent on earnings and revenue that fell short of what analysts were looking for. Stock of the home-improvement retailer fell $3.33 to $68.50.

In Europe, France's CAC 40 rose 0.3 percent and Britain's FTSE 100 was up 0.2 percent. Germany's DAX was flat.

The price of oil rose for the first time in a week after the Energy Department reported a surprisingly large drop in supplies of both crude oil and fuels. Benchmark U.S. crude rose 99 cents to close at $58.98 a barrel in New York. Brent crude, a benchmark for international oil used by many U.S. refineries, rose $1.01 to close at $65.03 in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 4.6 cents to close at $2.041 a gallon.

”” Heating oil rose 1.7 cents to close at $1.946 a gallon.

”” Natural gas fell 3.3 cents to close at $2.915 per 1,000 cubic feet.

In currency markets, the dollar strengthened to 121.32 yen from 120.67 yen. The euro declined to $1.1095 from $1.1147.

The price of U.S. government bonds rose. The yield on the 10-year Treasury note fell to 2.26 percent from 2.30 percent late Tuesday.

Precious and industrial metals prices closed little changed. Gold rose $2 to $1,208.70 an ounce, silver rose four cents to $17.11 an ounce, and copper edged down less than a penny to $2.83 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	0.34	points or ▲	0.00%	on	Thursday, 21 May 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,285.74	▲	0.34	▲	0.00%		
	Nasdaq____	5,090.79	▲	19.05	▲	0.38%		
	S&P_500___	2,130.82	▲	4.97	▲	0.23%		
	30_Yr_Bond____	2.98	▼	-0.07	▼	-2.46%		

NYSE Volume	 3,090,744,500 	 	 	 	 	  		 
Nasdaq Volume	 1,658,418,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,013.47	▲	6.21	▲	0.09%		
	DAX_____	11,864.59	▲	16.12	▲	0.14%		
	CAC_40__	5,146.70	▲	13.40	▲	0.26%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,663.60	▲	49.60	▲	0.88%		
	Shanghai_Comp	4,529.42	▲	83.13	▲	1.87%		
	Taiwan_Weight	9,578.56	▼	-106.75	▼	-1.10%		
	Nikkei_225___	20,202.87	▲	6.31	▲	0.03%		
	Hang_Seng.__	27,523.72	▼	-61.33	▼	-0.22%		
	Strait_Times.__	3,439.86	▲	0.18	▲	0.01%		
	NZX_50_Index_	5,769.27	▲	13.48	▲	0.23%		

http://finance.yahoo.com/news/us-stocks-notch-record-rising-202736327.html

*US stocks notch record as rising oil boosts energy sector

US stocks notch another record as rising oil boosts energy sector; Best Buy gains on earnings*

Associated Press By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The stock market eked out another record close on Thursday as rising oil prices boosted energy stocks.

Best Buy was among the biggest gainers after reporting earnings that exceeded the expectations of Wall Street analysts. Lumber Liquidators, a specialty retailer of hardwood flooring, plunged after its CEO abruptly quit the company.

Stocks are trading at record levels, but the market's gains this week have been modest.

On the one hand, signs that the economy is flagging suggest that the Federal Reserve will likely refrain from raising rates until later in the year at the earliest. The central bank has kept its benchmark interest rate close to zero for more than six years. That's been a good backdrop for stocks.

On the other hand, if the economy fails to pick up sufficiently, corporate earnings will suffer. That would hurt stocks. Also, after a six-year bull market, stocks are no longer cheap.

"At this point, there's a bit of a wait-and-see attitude," said Stephen Freedman, head of cross-asset strategy at UBS Wealth Management. "There's uncertainty about the Fed and there's uncertainty about the growth outlook in the U.S."

The Standard & Poor's closed up 4.97 points, or 0.2 percent, at 2,130.82. The Dow Jones industrial average edged up 0.34 point to 18,285.74. The Nasdaq composite rose 19.05 points, or 0.4 percent, to 5,090.79.

Trading volume was lower than average ahead of the Memorial Day holiday in the U.S. on Monday.

Best Buy was among the day's biggest gainers, jumping after the company reported strong earnings. The electronics retailer said sales of mobile phones, big televisions and major appliances helped sales, offsetting weakness in tablets and computers. Its stock jumped $1.33, or 3.9 percent, to $35.11.

Lumber Liquidators fell sharply after CEO Robert Lynch abruptly resigned. The company is embroiled in an investigation over products imported from China after the CBS news show "60 Minutes" first reported in March that some of its flooring contained high levels of the carcinogen formaldehyde, a dangerous chemical.

The company's stock dropped $4.17, or 16.5 percent, to $21.10.

In energy trading, the price of oil rose sharply for the second day in a row on a decline in the value of the dollar, which made oil, which is priced in dollars, more attractive to overseas buyers.

Benchmark U.S. crude rose $1.74 to close at $60.72 a barrel in New York. The price of oil has now climbed more than 40 percent from its lows in March. Brent crude, a benchmark for international oil used by many U.S. refineries, rose $1.51 to close at $66.54 in London.

The latest gain in oil prices helped push the stocks of energy companies higher. Rig operator Transocean rose 83 cents, or 4.3 percent, to $20.09 and Chesapeake Energy rose 56 cents, or 3.8 percent, to $15.31.

Investors also got some more news on the economy.

More Americans sought unemployment aid last week, though the number of applications remains at a historically low level that is consistent with a healthy job market. Weekly applications increased 10,000 to 274,000, the Labor Department said Thursday. The four-week average, a less volatile figure, fell to a 15-year low of 266,250.

Government bond prices rose. The yield on the 10-year Treasury note fell to 2.19 percent from 2.25 percent on Wednesday. The dollar declined to 121.03 yen from 121.25 yen. The euro rose to $1.1112 from $1.1094.

In metals trading, precious and industrial metals futures ended narrowly mixed. The price of gold fell $4.60 to $1,204.10 an ounce, silver rose two cents to $17.13 an ounce and copper rose two cents to $2.85 a pound.

In other energy futures trading:

”” Wholesale gasoline rose 4.1 cents to close at $2.082 a gallon.

”” Heating oil rose 4 cents to close at $1.986 a gallon.

”” Natural gas rose 3.4 cents to close at $2.949 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-53.72	points or ▼	-0.29%	on	Friday, 22 May 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,232.02	▼	-53.72	▼	-0.29%		
	Nasdaq____	5,089.36	▼	-1.43	▼	-0.03%		
	S&P_500___	2,126.06	▼	-4.76	▼	-0.22%		
	30_Yr_Bond____	2.99	▲	0.01	▲	0.27%		

NYSE Volume	 2,574,319,500 	 	 	 	 	  		 
Nasdaq Volume	 1,522,411,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,031.72	▲	18.25	▲	0.26%		
	DAX_____	11,815.01	▼	-49.58	▼	-0.42%		
	CAC_40__	5,142.89	▼	-3.81	▼	-0.07%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,668.20	▲	4.60	▲	0.08%		
	Shanghai_Comp	4,657.60	▲	128.17	▲	2.83%		
	Taiwan_Weight	9,638.80	▲	60.24	▲	0.63%		
	Nikkei_225___	20,264.41	▲	61.54	▲	0.30%		
	Hang_Seng.__	27,992.83	▲	469.11	▲	1.70%		
	Strait_Times.__	3,450.18	▲	10.32	▲	0.30%		
	NZX_50_Index_	5,776.02	▲	6.75	▲	0.12%		

http://www.newser.com/article/c1536...et-trading-ahead-of-memorial-day-holiday.html

* Stocks slip on lower oil prices, mixed earnings in quiet trading ahead of Memorial Day holiday

US stocks fall slightly on lower oil, mixed earnings news*
By BERNARD CONDON | Associated Press 

NEW YORK (AP) — The stock market capped a quiet week of trading on a down note.

Major indexes fell from the start on Friday as oil drillers and other energy-related companies followed oil prices lower. Stocks spent much of the rest of the day drifting between losses and gains as investors considered a mixed bag corporate earnings and a slight increase in inflation.

The Standard & Poor's 500 index closed down 4.76 points, or 0.2 percent, to 2,126.06. The Dow Jones industrial average fell 53.72 points, or 0.3 percent, to 18,232.02. The Nasdaq composite edged down 1.43 points to 5,089.36.

Trading was light ahead of the Memorial Day weekend in the U.S. Just 2.5 billion shares changed hands on the New York Stock Exchange, three-quarters of the normal level.

Nine of the 10 industry sectors of the S&P 500 were lower, led by a 0.8 percent drop in telecommunications stocks.

Among stocks making big gains, Deere & Co. rose $3.89, or 4.3 percent, to $93.35 after the equipment maker beat analysts' estimates for its latest quarterly earnings. The company also raised its profit forecast for the year.

Campbell Soup rose 98 cents, or 2 percent, to $47.91 after reporting better-than-expected results, too.

In economic news, the Labor Department reported that inflation rose 0.1 percent in April, its third straight increase. The report also noted that core inflation, which excludes volatile food and energy prices, climbed 0.3 percent, the biggest one-month increase in more than two years.

The numbers suggest that an improving economy could be setting the stage for the Federal Reserve to raise its benchmark short-term interest rate. The central market has held the rate near zero for more than six years.

"We don't think inflation is really a problem, but the uptick is a cover for the Fed to do what it wants to do anyway: Get off zero rates," said Jim McDonald, chief investment strategist at Northern Trust.

Later in the day, Federal Reserve Chair Janet Yellen said in a speech that she expected the Fed to begin raising rates later this year if the job market improves. But she cautioned that the economy is still facing challenges, including disappointing wage growth and too many people working part-time.

Despite the drop for the day, the S&P 500 still closed up for the week, its third weekly gain in a row. The index has closed at record highs recently, though the gains have been tiny as investors fret over unimpressive earnings and an uncertain global economy.

"It continues to be the rally that no one respects," said JJ Kinahan, chief strategist at TD Ameritrade. "Despite headwinds, it continues to plug along."

Among stocks making moves Friday, Gap Inc. fell 55 cents, or 1.4 percent, to $38.01 on news late Thursday that first-quarter earnings plunged 8 percent as it tries to turn around its Banana Republic and Gap chains. The company also cited a surge in the value of the dollar, which makes sales abroad worth less when translated back to the U.S. currency.

Overseas, the Shanghai Composite Index jumped 2.8 percent to close at its highest level since 2008. Investors are betting that the economic stimulus that has powered the rally will continue after several poor indicators, including a disappointing manufacturing index on Thursday.

Markets in Europe were mixed. Germany's DAX slipped 0.4 percent. Britain's FTSE 100 rose 0.3 percent.

Benchmark U.S. crude fell $1 to close at $59.72 a barrel in New York as traders worried about supplies of oil outstripping demand. U.S. oil finished the week between $59 and $60 for the fourth straight week. Brent crude, a benchmark for international oil used by many U.S. refineries, fell $1.17 to close at $65.37 a barrel in London.

The national average retail price of gasoline reached its high for the year of $2.74 a gallon just before the Memorial Day weekend, according to AAA, though it remains nearly $1 cheaper than last year at this time.

In other futures trading on the NYMEX:

— Wholesale gasoline fell 2.8 cents to close at $2.054 a gallon.

— Heating oil fell 3.3 cents to close at $1.953 a gallon.

— Natural gas fell 6.2 cents to close at $2.887 per 1,000 cubic feet.

The rise in consumer prices sent U.S. bond prices lower. The yield on the benchmark 10-year Treasury note rose to 2.21 percent from 2.19 percent late Thursday.

Precious and industrial metals futures closed little changed. Gold edged down 10 cents to $1,204 an ounce, silver rose two cents to $17.13 an ounce, and copper fell four cents to $2.81 a pound.

4991


----------



## bigdog

Source: http://finance.yahoo.com 

*US Markets were due to be closed Monday for the Memorial Day holiday.

Global stocks mostly rose Monday on a quiet trading day with Wall Street, London, Frankfurt and Hong Kong closed for holidays.

3AW radio got it wrong this morning reporting Fridays US results as Monday May 25 results*


 *The NYSE DOW closed  	LOWER ▼	-53.72	points or ▼	-0.29%	on	Friday, 22 May 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,232.02	▼	-53.72	▼	-0.29%	holiday	
	Nasdaq____	5,089.36	▼	-1.43	▼	-0.03%	holiday		
	S&P_500___	2,126.06	▼	-4.76	▼	-0.22%	holiday		
	30_Yr_Bond____	2.99	▲	0.01	▲	0.27%	holiday		

NYSE Volume	 2,574,319,500 	 	 	 	 	  		 
Nasdaq Volume	 1,522,411,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,031.72	▲	18.25	▲	0.26%	holiday		
	DAX_____	11,815.01	▼	-49.58	▼	-0.42%	holiday		
	CAC_40__	5,117.17	▼	-25.72	▼	-0.50%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,719.90	▲	51.70	▲	0.91%		
	Shanghai_Comp	4,813.80	▲	156.20	▲	3.35%		
	Taiwan_Weight	9,645.17	▲	6.37	▲	0.07%		
	Nikkei_225___	20,413.77	▲	149.36	▲	0.74%		
	Hang_Seng.__	27,992.83	▲	469.11	▲	1.70%	holiday		
	Strait_Times.__	3,460.85	▲	10.67	▲	0.31%		
	NZX_50_Index_	5,794.98	▲	18.96	▲	0.33%		

http://finance.yahoo.com/news/global-stocks-mostly-higher-quiet-084932336.html

*Global stocks mostly higher in quiet trading day

Global stock markets mostly higher with Hong Kong, Wall Street, London closed for holidays*
Associated Press By Joe Mcdonald, AP Business Writer

BEIJING (AP) -- Global stocks mostly rose Monday on a quiet trading day with Wall Street, London and Hong Kong closed for holidays.

KEEPING SCORE: In in Europe, France's CAC-40 was among the few indexes to trade, shedding 0.7 percent to 5,106.54 points. London and Frankfurt are closed for holidays. Wall Street is closed for Memorial Day. In Asia, the Shanghai Composite Index surged 3.4 percent to close at 4,813.80 and Tokyo's Nikkei 225 rose 0.7 percent to 20,413.77. Sydney's S&P/ASX 200 advanced 1 percent to 5,721.50. Taiwan, Singapore and New Zealand also rose. Jakarta, Bangkok and Manila declined. Hong Kong and Seoul were closed for holidays.

U.S. ECONOMY: Amid the slow trading, investors were digesting economic news from the U.S. on Friday. A report showed inflation rose 0.1 percent in April, its third straight increase. The numbers suggest that an improving economy could be setting the stage for the Federal Reserve to raise its benchmark short-term interest rate. Also Friday, Federal Reserve Chairwoman Janet Yellen said in a speech that she expected the Fed to begin raising rates later this year if the job market improves. But she cautioned that the economy is still facing challenges, including disappointing wage growth and too many people working part-time.

GREECE DEBT: There were lingering concerns over Greece, where the stock market was down 2 percent. The country's ruling coalition rejected a call by party hardliners to skip its next payment to the International Monetary Fund on June 5. Greece does not have the money to the debt repayment without more bailout loans, but is balking at making new reforms, as creditors demand. Greece says it expects a deal by the end of the month.

WALL STREET: On Friday, major indexes declined as oil drillers and other energy-related companies followed oil prices lower. The S&P 500 fell but closed up for the week. The index has closed at record highs recently, though the gains have been tiny as investors fret over unimpressive earnings and an uncertain global economy. The Standard & Poor's 500 closed down 4.76 points, or 0.2 percent, to 2,126.06. The Dow Jones industrial average fell 53.72 points, or 0.3 percent, to 18,232.02. The Nasdaq composite edged down 1.43 points to 5,089.36. Markets were due to be closed Monday for the Memorial Day holiday.

ENERGY: Benchmark U.S. oil lost 45 cents to $59.27 per barrel in electronic trading on the New York Mercantile Exchange. The contract shed $1 on Friday to $59.72.

CURRENCIES: The dollar gained to 121.49 yen from Friday's 121.54 yen. The euro declined to $1.0985 from $1.1013.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-190.48	points or ▼	-1.04%	on	Tuesday, 26 May 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,041.54	▼	-190.48	▼	-1.04%		
	Nasdaq____	5,032.75	▼	-56.61	▼	-1.11%		
	S&P_500___	2,104.20	▼	-21.86	▼	-1.03%		
	30_Yr_Bond____	2.89	▼	-0.09	▼	-3.15%		

NYSE Volume	 3,286,942,750 	 	 	 	 	  		 
Nasdaq Volume	 1,693,017,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,948.99	▼	-82.73	▼	-1.18%		
	DAX_____	11,625.13	▼	-189.88	▼	-1.61%		
	CAC_40__	5,083.54	▼	-33.63	▼	-0.66%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,770.40	▲	50.50	▲	0.88%		
	Shanghai_Comp	4,910.90	▲	97.10	▲	2.02%		
	Taiwan_Weight	9,669.41	▲	24.24	▲	0.25%		
	Nikkei_225___	20,437.48	▲	23.71	▲	0.12%		
	Hang_Seng.__	28,249.86	▲	257.03	▲	0.92%		
	Strait_Times.__	3,459.98	▼	-0.87	▼	-0.03%		
	NZX_50_Index_	5,795.85	▲	0.87	▲	0.02%		

http://finance.yahoo.com/news/slumping-energy-sector-leads-broad-200909390.html

*Slumping energy sector leads a broad sell-off in US stocks

US stocks close broadly lower, led by declines in energy companies as the price of oil slides*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- The stock market endured its worst day in three weeks on Tuesday as investors fretted over Greece's debt crisis and a surge in the U.S. dollar.

Investors seeking safety bought U.S. government bonds.

The Dow Jones Industrial average lost 190.48 points, or 1 percent, to 18,041.54. The Standard & Poor's 500 index lost 21.86 points, also 1 percent, to 2,104.20 and the Nasdaq composite fell 56.61 points, or 1.1 percent, to 5,032.75.

Only a handful of stocks, 32 out of the S&P 500's members, posted gains. Time Warner Cable rose after agreeing to be acquired by Charter Communications for $55 billion. Time Warner closed up $12.42, or 7 percent, to $183.60. Charter rose $4.45, or 2.5 percent, to $179.78.

The drop Tuesday can be tied to two phenomena that, when put together, caused the selling to compound.

On one side, investors remain concerned about Greece's ability to repay its debts. Greece might miss a payment on June 5 if it fails to receive bailout funds from creditors, who are demanding that the country make reforms to its economy. Talks to reach a deal resumed Tuesday after a weekend break, but it is unclear whether an agreement can be reached in time.

Also, the value of the U.S. dollar surged Tuesday, causing reverberations in several markets. The price of oil, gold and other commodities, which are priced in dollars, dropped. That, in turn, pushed down the stocks of companies which do business in those commodities, such as copper and gold miners, or do most of their business outside the U.S. Industrial, oil and gas, and material sector companies were all broadly lower.

While investors have considered Greece's financial troubles for years now, the country is precariously close to the edge this time. It owes 6.7 billion euros this month to investors and the International Monetary Fund and does not have the cash to pay it.

Meanwhile, another big question for investors is when the Federal Reserve the Federal Reserve will finally make its first interest rate increase in almost a decade. Many expect that to occur either later this year or early next year.

"If you think Greece is actually in its last throes in the eurozone it's better to be safe and park your money in U.S. dollars and deal with the Fed's interest rate increase down the road," said Quincy Krosby, a market strategist at Prudential Financial.

Both the European Central Bank and the Bank of Japan are in the midst of bond-buying programs to stimulate their economies, as the Fed did recently in the U.S. A byproduct of those programs can be a weakened currency. So when the Fed does raise interest rates, it could cause the U.S. dollar to appreciate even more against the euro and Japanese yen.

U.S. government bond prices rose sharply, sending yields lower. The yield on the 10-year Treasury note fell to 2.13 percent from 2.22 percent late Friday.

The price of oil fell sharply Tuesday as dollar gained strength against other currencies. Oil is priced in dollars around the world, so a rising dollar makes oil more expensive to holders of foreign currency.

Benchmark U.S. crude fell $1.69 to close at $58.03 a barrel in New York. Brent crude, a benchmark for international oil used by many U.S. refineries, fell $1.80 to close at $63.72 in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 5.6 cents to close at $1.998 a gallon.

”” Heating oil fell 5.3 cents to close at $1.900 a gallon.

”” Natural gas fell 6.5 cents to close at $2.822 per 1,000 cubic feet.

Precious and industrial metals prices ended broadly lower. Gold fell $17.10 to settle at $1,186.90 an ounce, silver fell 31 cents to $16.75 an ounce and copper fell 3 cents to $2.78 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	121.45	points or ▲	0.67%	on	Wednesday, 27 May 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,162.99	▲	121.45	▲	0.67%		
	Nasdaq____	5,106.59	▲	73.84	▲	1.47%		
	S&P_500___	2,123.48	▲	19.28	▲	0.92%		
	30_Yr_Bond____	2.88	▼	-0.02	▼	-0.59%		

NYSE Volume	 3,129,927,750 	 	 	 	 	  		 
Nasdaq Volume	 1,788,058,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,033.33	▲	84.34	▲	1.21%		
	DAX_____	11,771.13	▲	146.00	▲	1.26%		
	CAC_40__	5,182.53	▲	98.99	▲	1.95%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,724.20	▼	-46.20	▼	-0.80%		
	Shanghai_Comp	4,941.71	▲	30.82	▲	0.63%		
	Taiwan_Weight	9,693.54	▲	24.13	▲	0.25%		
	Nikkei_225___	20,472.58	▲	35.10	▲	0.17%		
	Hang_Seng.__	28,081.21	▼	-168.65	▼	-0.60%		
	Strait_Times.__	3,424.94	▼	-35.04	▼	-1.01%		
	NZX_50_Index_	5,757.94	▼	-37.92	▼	-0.65%		

http://abcnews.go.com/Business/wireStory/us-stocks-open-modestly-higher-quiet-trading-31336789

*Stocks of major US airlines end 6-session losing streak

After sliding from 2015 highs, major airline stocks end their losing string as oil prices fall*

NEW YORK ”” May 27, 2015, 4:23 PM ET
By KEN SWEET AP Business Writer

 Stocks ended higher Wednesday, recovering the most of their losses from the day before, as Greece appeared closer to resolving its latest debt issues.

However, the overall market remains directionless as most investors are focused on figuring out when the Federal Reserve's long-awaited interest rate increase may come.

The Dow Jones industrial average rose 121.45 points, or 0.7 percent, to 18,162.99. It had fallen 190 points on Tuesday. The Standard & Poor's 500 index rose 19.28 points, or 0.9 percent, to 2,123.48 and the Nasdaq composite rose 73.84 points, or 1.5 percent, to 5,106.59.

The stock market was barely higher for the first half of the day, but gained momentum in the afternoon after Greece's Prime Minister Alexis Tsipras said his country is near a deal with its creditors. Tsipras stressed that "calm and determination" were needed in the final stretch of negotiations.

Greece might miss a debt payment on June 5 if it fails to receive bailout funds from creditors, who are demanding that the country make reforms to its economy. It is unclear whether an agreement can be reached in time and Greece is dealing with three different creditor institutions: the International Monetary Fund, European Commission and European Central Bank.

Missing those payments could destabilize the country's financial system and eventually push it out of the 19-country eurozone, a step that could shake the currency union and the global economy.

The news helped the euro stabilize against the dollar after its sell-off Tuesday. The drop in the euro was partially blamed for yesterday's stock market sell-off.

Outside of Greece and the dollar, most of investors' attention is on the Fed and when the central bank plans to start raising rates for the first time in almost a decade. Investors and strategists are split on when the central bank will move, with some thinking it could be as early as September and most looking at early 2016.

Market strategists argue that until the market has some more clarity from the Fed or from economic data, stocks are unlikely to post solid gains. There was no major economic data on Wednesday to move the market one way or another.

"It's an old but true expression: the market likes certainty. Until we get that from the Fed, stocks are unlikely to make any headway," said David Lefkowitz, a senior equity strategist at UBS.

In individual stocks, tobacco companies Lorillard and Reynolds American rose after the Federal Trade Commission gave its tacit approval to the companies' $27.4 billion merger. Lorillard, maker of Newport cigarettes, was up 70 cents, or 1 percent, to $72.82. Reynolds American, which makes Camel cigarettes, was up $1.70, or 2.3 percent, to $77.13.

Michael Kors Holdings sank $14.66, or 24 percent, to $45.93. The handbag and accessories maker posted a drop in year-over-year sales and predicted sales would be well short of analysts' estimates. And jewelry maker Tiffany & Co. rose $9.01, or 11 percent, to $94.54 after its quarterly results topped analysts' expectations, despite a stronger dollar.

Benchmark U.S. crude fell 52 cents to $57.51 a barrel on the New York Mercantile Exchange. Brent crude fell $1.66 to $62.06 a barrel in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 5.4 cents to close at $1.945 a gallon.

”” Heating oil fell 4.4 cents to close at $1.857 a gallon.

”” Natural gas fell 0.7 cents to close at $2.815 per 1,000 cubic feet.

In the bond market, U.S. government bond prices edged higher. The yield on the 10-year Treasury note fell to 2.13 percent from 2.14 percent the day before

Precious and industrial metals futures ended lower. Gold lost $1.30 to $1,185.60 an ounce, silver fell 10 cents to $16.65 an ounce and copper fell a penny to $2.77 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-36.87	points or ▼	-0.20%	on	Thursday, 28 May 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,126.12	▼	-36.87	▼	-0.20%		
	Nasdaq____	5,097.98	▼	-8.62	▼	-0.17%		
	S&P_500___	2,120.79	▼	-2.69	▼	-0.13%		
	30_Yr_Bond____	2.88	▲	0.01	▲	0.35%		

NYSE Volume	 2,982,402,750 	 	 	 	 	  		 
Nasdaq Volume	 1,721,275,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,040.92	▲	7.59	▲	0.11%		
	DAX_____	11,677.57	▼	-93.56	▼	-0.79%		
	CAC_40__	5,137.83	▼	-44.70	▼	-0.86%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,714.60	▼	-9.60	▼	-0.17%		
	Shanghai_Comp	4,620.27	▼	-321.45	▼	-6.50%		
	Taiwan_Weight	9,712.84	▲	19.30	▲	0.20%		
	Nikkei_225___	20,551.46	▲	78.88	▲	0.39%		
	Hang_Seng.__	27,454.31	▼	-626.90	▼	-2.23%		
	Strait_Times.__	3,417.77	▼	-7.17	▼	-0.21%		
	NZX_50_Index_	5,777.64	▲	19.70	▲	0.34%		

http://finance.yahoo.com/news/us-stocks-fall-slightly-greece-204604902.html

*US stocks fall slightly; Greece debt deadline looms

US stock markets edge lower as Greece debt deadline looms; China's Shanghai index tumbles*

Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- U.S. stocks fell slightly Thursday, following a sell-off in the Chinese market and continued worries about the approaching debt payment deadline for cash-starved Greece.

The overall market was quiet, with the Dow moving less than 100 points throughout the session. Energy and industrial stocks were among the biggest decliners. Most investors are in "wait and see" mode regarding Greece and the Federal Reserve, which is weighing when to begin raising interest rates.

The Dow Jones industrial average slipped 36.87 points, or 0.2 percent, to 18,126.12. The Standard & Poor's 500 index edged down 2.69 points, or 0.1 percent, to 2,120.79 and the Nasdaq composite lost 8.62 points, or 0.2 percent, to 5,097.98.

In corporate news, chipmakers Avago Technologies and Broadcom agreed to merge in a $37 billion deal. Avago rose 89 cents, or 1 percent, to $142.38. Broadcom fell 91 cents, or 2 percent, to $56.25. Both stocks had jumped sharply Wednesday ”” Broadcom by 22 percent and Avago by 8 percent ”” on rumors those companies were in talks.

In Greece, progress in talks between that country and its creditors is unclear. Greece said it expected to reach a deal to get more bailout loans in time to make a key debt payment on June 5. Its creditors were quick to temper expectations.

Greece said it aims to clinch a deal by Sunday, which would allow it to receive the much needed final installment of its international bailout and avoid a default.

Greece has given investors a headache for years now, and many are skeptical that this round of talks will resolve any of the country's debt issues.

"They're likely to kick the can down the road as they have been," said Scott Wren, a market strategist with Wells Fargo. "At this point, I think we're likely looking at Greece leaving the eurozone."

In European markets, Greek stocks fell 1.7 percent. Germany's DAX lost 0.8 percent, France's CAC-40 lost 0.9 percent and the U.K.'s FTSE 100 index rose 0.1 percent.

Along with Greece's debt problems, investors are looking for insight into when the Fed might start raising interest rates. The central bank is expected to increase rates as early as September, but the bank's policymakers say any increase will depend on how the U.S. economy is doing.

Investors were also unnerved but a sell-off in Asia. China's Shanghai Composite sank 6.5 percent. Stock market commentator Hexun attributed the fall to several factors, including brokerages tightening lending to individual investors, selling by speculators and a Chinese sovereign wealth fund selling shares in two state banks.

Despite an economic slowdown in China, the index has gained 40 percent in the past three months. Chinese leaders have tried to tap the brakes on the stock boom, fearing it could run out of control and disrupt economic reform plans.

In the U.S., government bond prices were flat. The yield on the 10-year Treasury note held at 2.14 percent.

In energy markets, oil ended slightly higher after the government reported bigger-than-expected declines in U.S. oil and gasoline supplies. The price of U.S. oil rose 17 cents to $57.68 a barrel after being down $1 a barrel earlier. Brent crude, used by many U.S. refiners in the production of gasoline, rose 52 cents to $62.58 in London.

In other energy futures trading, wholesale gasoline gained 4.1 cents to $1.985 a gallon. Heating oil rose 1.4 cents to $1.87 a gallon and natural gas fell 14.1 cents to $2.706 per 1,000 cubic feet.

In the metals markets, gold rose $2.30 to $1,188.80 an ounce, silver rose two cents to $16.67 an ounce and high-grade copper was unchanged at $2.77 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-115.44	points or ▼	-0.64%	on	Friday, 29 May 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,010.68	▼	-115.44	▼	-0.64%		
	Nasdaq____	5,070.03	▼	-27.95	▼	-0.55%		
	S&P_500___	2,107.39	▼	-13.40	▼	-0.63%		
	30_Yr_Bond____	2.85	▼	-0.04	▼	-1.32%		

NYSE Volume	 3,927,227,750 	 	 	 	 	  		 
Nasdaq Volume	 1,997,937,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,984.43	▼	-56.49	▼	-0.80%		
	DAX_____	11,413.82	▼	-263.75	▼	-2.26%		
	CAC_40__	5,007.89	▼	-129.94	▼	-2.53%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,774.90	▲	60.30	▲	1.06%		
	Shanghai_Comp	4,611.74	▼	-8.52	▼	-0.18%		
	Taiwan_Weight	9,701.07	▼	-11.77	▼	-0.12%		
	Nikkei_225___	20,563.15	▲	11.69	▲	0.06%		
	Hang_Seng.__	27,424.19	▼	-30.12	▼	-0.11%		
	Strait_Times.__	3,392.11	▼	-25.66	▼	-0.75%		
	NZX_50_Index_	5,844.95	▲	67.31	▲	1.17%		

http://finance.yahoo.com/news/stocks-end-week-lower-following-203526924.html

*Stocks end week lower following disappointing economic data

Stocks end week lower following reports that US economy contracted in the first quarter*

Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks sank Friday following news that the U.S. economy shrank in the first three months of the year.

The revised data showed that gross domestic product contracted 0.7 percent in the first quarter. That was worse than the government's initial estimate of growth of 0.2 percent.

The Dow Jones industrial average lost 115.44 points, or 0.6 percent, to 18,010.68. The Standard & Poor's 500 index lost 13.40 points, or 0.6 percent, to 2,107.39 and the Nasdaq composite lost 27.95 points, or 0.6 percent, to 5,070.03.

All three indexes ended the week lower. It was the first weekly loss for the S&P 500 following three weeks of gains.

Investors had two other disappointing pieces of economic news to work through. A Chicago manufacturing survey fell to 46.2, well below the 53 that economists were anticipating, and a measure of consumer sentiment fell to a six-month low in May.

Along with the disappointing economic data, investors continued to watch developments out of Greece.

Greek Prime Minister Alexis Tsipras has said a deal with the country's creditors could be ready by the weekend, but it appears other key officials are less confident.

"With it being a Friday and the uncertainty around the Greece situation and the disappointing economic data, naturally investors are taking some of their positions off the table," said JJ Kinahan, a strategist at TDAmeritrade.

Christine Lagarde, the head of the International Monetary Fund, said a Greek exit from the euro remains a possibility, while German Finance Minister Wolfgang Schaeuble also appeared cautious in comments following the end of a meeting of top finance officials in Berlin. Without a deal to receive its remaining bailout cash soon, Greece faces the grim possibilities of defaulting on its debt or ditching the euro. Figures from the European Central Bank showing Greek bank deposits are at their lowest in more than a decade only added to the prevailing gloom.

Among individual stocks, shares of Humana rose $36.24, or 20 percent, to $214.65 after The Wall Street Journal reported that the health insurance company has hired investment bankers to potentially sell the company.

GameStop rose $2.49, or 6 percent, to $43.41. The video game retailer posted results that exceeded analysts' estimates, helped by the sale of recently released video game titles.

In energy, the price of oil rose nearly 5 percent Friday on an increase in demand and a surprisingly large decline in the number of rigs drilling for oil in the U.S. Benchmark U.S. crude rose $2.62 to close at $60.30 a barrel in New York. Oil finished the week up 1 percent. Brent crude, a benchmark for international oil used by many U.S. refineries, rose $2.98 to close at $65.56 in London.

In other futures trading on the NYMEX, wholesale gasoline rose 10.1 cents to close at $2.086 a gallon, heating oil rose 8.5 cents to close at $1.955 a gallon, and natural gas fell 6.4 cents — its fifth decline in a row — to close at $2.642 per 1,000 cubic feet.

U.S. government bond prices rose slightly. The yield on the 10-year Treasury note fell to 2.12 percent. The euro rose to $1.0984 to the dollar, while the dollar rose to 124.13 yen against the Japanese currency.

Precious and industrial metals futures ended mixed. Gold rose $1.30 to $1,189.40 an ounce, silver rose three cents to $16.70 an ounce and copper fell four cents to $2.73 a pound.

5658


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	29.69	points or ▲	0.16%	on	Monday, 1 June 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,040.37	▲	29.69	▲	0.16%		
	Nasdaq____	5,082.93	▲	12.90	▲	0.25%		
	S&P_500___	2,111.73	▲	4.34	▲	0.21%		
	30_Yr_Bond____	2.95	▲	0.10	▲	3.65%		

NYSE Volume	 3,008,353,250 	 	 	 	 	  		 
Nasdaq Volume	 1,881,939,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,953.58	▼	-30.85	▼	-0.44%		
	DAX_____	11,436.05	▲	22.23	▲	0.19%		
	CAC_40__	5,025.30	▲	17.41	▲	0.35%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,734.00	▼	-40.90	▼	-0.71%		
	Shanghai_Comp	4,828.74	▲	216.99	▲	4.71%		
	Taiwan_Weight	9,625.69	▼	-75.38	▼	-0.78%		
	Nikkei_225___	20,569.87	▲	6.72	▲	0.03%		
	Hang_Seng.__	27,597.16	▲	172.97	▲	0.63%		
	Strait_Times.__	3,392.11	▼	-25.66	▼	-0.75%		
	NZX_50_Index_	5,844.95	▲	67.31	▲	1.17%		

http://finance.yahoo.com/news/us-stocks-gain-broadly-intel-200739972.html

*US stocks gain broadly after Intel deal for chip designer

US stocks gain broadly after encouraging economic reports, big Intel deal for chip designer*

Associated Press By Bernard Condon, AP Business Writer

NEW YORK (AP) -- Stocks rose on Monday after the release of some encouraging economic data and news of a big acquisition in the semiconductor industry.

The gains were modest, but broad. Eight of the 10 industry sectors in the Standard and Poor's 500 index ended higher, led by industrial stocks with a gain of 0.4 percent.

The biggest gainer in the S&P 500 was chip designer Altera, the target of a $17 billion cash offer by giant chip-maker Intel. Altera jumped $2.83 to $51.68, a 6 percent gain. Companies have been combining at a rapid clip, helping to boost stocks in the seventh year of the bull market.

The S&P 500 rose 4.34 points, or 0.2 percent, to 2,111.73. The Dow Jones industrial average rose 29.69 points, or 0.2 percent, to 18,040.37. The Nasdaq composite climbed 12.90 points, or 0.3 percent, to 5,082.93.

In economic news, U.S. manufacturing growth accelerated in May for the first time in six months, propelled by more new orders and an increase in hiring, according to the Institute for Supply Management, a trade group. A separate report showed construction spending climbed in April to the highest level in more than six years.

Investors are anxious about U.S. growth following a series of weak data, capped by news Friday that the economy shrank in the first three months of the year. They'll have a better sense of the growth outlook later this week after several other economic reports are released, culminating Friday with one on hiring in May.

"The market is looking at the data and saying, this is good," said Mizuho Securities' chief economist Steven Ricchiuto, referring to Monday's construction and factory reports. "It supports the idea that GDP will rebound in the second quarter."

Ricchiuto cautioned that he doesn't think economic growth will be fast enough to result in big corporate profit gains that will push stock prices higher. Earnings for companies in the S&P 500 are expected to rise just 0.6 percent for the full year, according to the S&P Capital IQ, a research firm.

Investors are also anxious about when the Federal Reserve will raise short-term interest rates. It has held them near zero since for more than six years to encourage borrowing and spending.

The Altera deal follows several other blockbuster corporate deals recently, including a $55 billion acquisition by Charter Communications for rival Time Warner Cable last week. So far this year, more than $700 billion in deals have been announced, a 43 percent jump from the same period a year ago, according to S&P Capital IQ.

Intel fell 55 cents to $33.91, a loss of 1.6 percent, the biggest drop in the Dow index.

Among other stocks making big moves, the solid construction data helped push up homebuilders. D.R. Horton rose 32 cents, or 1.2 percent, to $26.44. Toll Brothers rose 38 cents, or 1.2 percent, to $36.55.

In Europe, tensions remain high as Greece inches closer to a Friday deadline to make a debt payment to the International Monetary Fund. Greece is struggling to convince the IMF and creditors in Europe that it has a reform strategy in place so it can get access to more bailout cash.

"Concerns about Greece continue to hold investors back from taking on too much risk," said Fawad Razaqzada, an analyst at Forex.com.

Germany's DAX rose 0.2 percent while the CAC-40 in France gained 0.4 percent. Britain's FTSE 100 fell 0.4 percent.

In Asia, the Shanghai Composite jumped 4.7 percent following a steep plunge last week triggered partly by a pullback on lending to investors at brokerages. Officials in China are worried that stocks have risen too far, too fast. The index is up 137 percent in the past 12 months.

The price of oil slipped slightly as the dollar gained strength, making oil less attractive to holders of foreign currencies. Benchmark U.S. crude fell 10 cents to close at $60.20 a barrel in New York. Brent crude, a benchmark for international oil used by many U.S. refineries, fell 68 cents to close at $64.88 a barrel in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 2.1 cents to close at $2.042 a gallon.

”” Heating oil fell 2.4 cents to close at $1.926 a gallon.

”” Natural gas rose 7 cents to close at $2.649 per 1,000 cubic feet.

In the currency markets, the euro was little changed at $1.0931 and the dollar rose slightly to 124.79 Japanese yen.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.18 percent from 2.12 percent late Friday.

Precious and industrial metals futures closed broadly lower. Gold fell $1.10 to $1,188.70 an ounce. Silver fell two cents to $16.68 an ounce. Copper edged down a penny to $2.72 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-28.43	points or ▼	-0.16%	on	Tuesday, 2 June 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,011.94	▼	-28.43	▼	-0.16%		
	Nasdaq____	5,076.52	▼	-6.40	▼	-0.13%		
	S&P_500___	2,109.60	▼	-2.13	▼	-0.10%		
	30_Yr_Bond____	3.02	▲	0.07	▲	2.37%		

NYSE Volume	 3,050,861,000 	 	 	 	 	  		 
Nasdaq Volume	 1,708,800,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,928.27	▼	-25.31	▼	-0.36%		
	DAX_____	11,328.80	▼	-107.25	▼	-0.94%		
	CAC_40__	5,004.46	▼	-20.84	▼	-0.41%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,639.90	▼	-94.10	▼	-1.64%		
	Shanghai_Comp	4,910.53	▲	81.79	▲	1.69%		
	Taiwan_Weight	9,614.26	▼	-11.43	▼	-0.12%		
	Nikkei_225___	20,543.19	▼	-26.68	▼	-0.13%		
	Hang_Seng.__	27,466.72	▼	-130.44	▼	-0.47%		
	Strait_Times.__	3,340.75	▼	-51.36	▼	-1.51%		
	NZX_50_Index_	5,863.74	▲	18.79	▲	0.32%		

http://finance.yahoo.com/news/stocks-drop-energy-gains-offset-205133078.html

*Stocks drop as energy gains are offset by utilities slump

Stocks drop as energy sector gains are offset by slump in utilities; PVH climbs on earnings*

Associated Press By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The stock market remains stuck in a rut.

On Tuesday, U.S. stocks ended the day with a slight loss as gains for the energy sector were offset by a slump in utilities. Treasury notes fell for a second day after a report showed that consumer prices rose in Europe for the first time since November, a sign that global inflation is picking up from a low base.

Stocks have been treading water for a month now as a series of modest gains and losses have cancelled each other out. The market remains close to record levels after a six-year bull-run, but investors appear reluctant to push prices any without first seeing evidence that the economy is recovering from its winter slump.

"It's still a decent market," said Jerry Braakman, chief investment officer of First American Trust. "We're up for the year but it's not flying off the roof like it has been for the last five, or six years."

The Standard & Poor's 500 index fell 2.13 points, or 0.1 percent, to 2,109.60. The index has gained 0.1 percent in the past month.

The Dow Jones industrial average dropped 28.43 points, or 0.2 percent, to 18,011.94. The Nasdaq composite fell 6.40 points, or 0.1 percent, to 5,076.52.

Utilities led declines for stocks as bond yields climbed for a second day.

Investors bought dividend-rich utility stocks last year as bond yields plunged, but that trend has reversed as bond yields have edged higher in the last four months. The sector has dropped 7.6 percent this year, making it the worst performer among the 10 industry groups that make up the S&P 500.

The slump in that sector was offset by a gain in energy stocks, which benefited from higher oil prices.

Oil closed at its highest level since December as the dollar fell against the euro. Oil is priced in dollars, and a drop in the value of the U.S. currency pushes up the price that producers demand for oil.

Despite the recent lack of momentum for stocks, the trend still points for higher prices, said Karyn Cavanaugh, a senior Vice President at Voya Investment Management. She believes that stocks will resume their ascent as the economy strengthens and company earnings keep rising.

"The tendency is up, but it's not always a straight line," said Cavanaugh.

Among the day's biggest winners on Tuesday was PVH. The stock jumped after the company reported earnings that beat the expectations of Wall Street analysts. The company also announced that its board had approved a $500 million share buyback program.

Investors were also following developments with Greece, a day after an emergency meeting of the nation's international creditors.

Greece has submitted a proposal it hopes will secure a deal to get more funds from its lenders. Greek Prime Minister Alexis Tsipras said it is now up Europe's leaders to accept a deal or risk potentially disastrous consequences for the region. For four months, Greece and its creditors have been locked in a standoff over what reforms the country needs to make to get more loans.

In bond trading, prices fell, pushing yields higher. The yield on the 10-year Treasury note climbed to 2.26 percent from 2.18 percent on Monday. European government bond yields also rose broadly. The yield on the 10-year German government bond rose to 0.72 percent from 0.55 percent, a large move.

The dollar weakened against the Japanese yen. Earlier, it climbed above 125 yen for the first time since 2002. The U.S. currency also weakened against the dollar after the consumer prices report. The currency traded up at $1.1153, from $1.0934 the day before.

In metals trading, gold was little changed at $1,194.40 an ounce. The price of silver rose 12 cents to $16.80 an ounce. Copper climbed 1.6 cents to $2.74 per pound.

The price of oil rose nearly two percent to its highest level since December on a sharp rise in the euro against the dollar. Benchmark U.S. crude rose $1.06 to close at $61.26 a barrel in New York. Brent crude, a benchmark for international oil used by many U.S. refineries, rose 61 cents to close at $65.49 a barrel in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 2.3 cents to close at $2.065 a gallon.

”” Heating oil rose 2 cents to close at $1.946 a gallon.

”” Natural gas rose 4.9 cents to close at $2.698 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	64.33	points or ▲	0.36%	on	Wednesday, 3 June 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,076.27	▲	64.33	▲	0.36%		
	Nasdaq____	5,099.23	▲	22.71	▲	0.45%		
	S&P_500___	2,114.07	▲	4.47	▲	0.21%		
	30_Yr_Bond____	3.11	▲	0.09	▲	2.85%		

NYSE Volume	 3,101,246,500 	 	 	 	 	  		 
Nasdaq Volume	 1,828,776,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,950.46	▲	22.19	▲	0.32%		
	DAX_____	11,419.62	▲	90.82	▲	0.80%		
	CAC_40__	5,034.17	▲	29.71	▲	0.59%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,588.30	▼	-51.60	▼	-0.91%		
	Shanghai_Comp	4,909.98	▼	-0.55	▼	-0.01%		
	Taiwan_Weight	9,556.52	▼	-57.74	▼	-0.60%		
	Nikkei_225___	20,473.51	▼	-69.68	▼	-0.34%		
	Hang_Seng.__	27,657.47	▲	190.75	▲	0.69%		
	Strait_Times.__	3,349.84	▲	9.09	▲	0.27%		
	NZX_50_Index_	5,858.71	▼	-5.04	▼	-0.09%		

http://finance.yahoo.com/news/encouraging-economic-news-gives-us-201519164.html
*
Encouraging economic news gives US stocks a modest bump

Stocks rise following solid news on hiring, trade and business conditions; utilities slump*

Associated Press By Bernard Condon, AP Business Writer

NEW YORK (AP) -- Encouraging economic news pushed stocks higher Wednesday, although a slump in energy companies and utilities kept broader gains in check.

Stocks climbed from the start of trading on news that U.S. exports rose in April and that hiring picked up in May. The buying followed a rise in overseas markets on hopes of a breakthrough in Greece's talks with its creditors.

By the end of the day, seven of 10 industry groups in the Standard and Poor's 500 index rose. Utility stocks dropped 1.4 percent and energy companies fell 0.7 percent, along with the price of oil.

The S&P 500 edged up 4.47 points, or 0.2 percent, to 2,114.07. The Dow Jones industrial average rose 64.33 points, or 0.4 percent, to end at 18,076.27. The Nasdaq composite climbed 22.71 points, or 0.5 percent, to 5,099.23.

The Federal Reserve said that a survey of business conditions showed that manufacturing held steady or increased in most parts of the country. A separate report from the Institute for Supply Management showed U.S. service firms grew in May at the slowest pace in a year. But any reading over 50 indicates that services firms are expanding.

Investors are anxious for signs that U.S. growth is picking up, but not so much that the Fed will feel compelled to raise interest rates too fast and send stocks down sharply.

Colleen S. Supran, principal at investment firm Bingham, Osborn & Scarborough, said Wednesday's reports seemed to strike a sort of Goldilocks' balance of hot, but not too hot.

"It's not so robust, that anyone can come out and say, 'The Fed has got to raise rates,'" she said. "Everything is just good enough."

Utility companies were driven down by a sharp rise in bond yields. Investors like utility stocks for their fat dividends, but bonds are becoming more attractive as a source of income. The yield on the 10-year Treasury note rose on Wednesday to 2.37 percent, the highest since November.

Energy stocks fell as the price of benchmark U.S. oil slid nearly 3 percent. The two biggest decliners in the S&P 500, Chesapeake Energy and Diamond Offshore Drilling, each fell by more than 3 percent.

Among big gainers for the day was clothing maker G-III Apparel Group, which reported earnings and revenue that came in well ahead of what Wall Street analysts were looking for. Its stock surged $7.06, or 12 percent, to $67.15.

Investors were also keeping an eye on Greece. The country's prime minister is trying to persuade creditors to accept a proposal that could unlock much-delayed bailout loans, but he's running out of time.

Greece has to make a payment of over 300 million euros ($333 million) to the International Monetary Fund this Friday, then make a series of other payments in the coming months. If it fails to repay past loans and get new ones, Greece may have to exit from the euro, a development that could roil the 19-country eurozone.

"The consensus is that they'll meet the June 5th payment ... but the concern is they'll struggle mightily to meet their July payment," said JJ Kinahan, chief strategist at TD Ameritrade. "The market is taking one payment at a time, but this continues to loom as a major point of concern."

In the U.S. hiring report, payroll processor ADP said that companies added 201,000 jobs last month, up from just 165,000 in April. That raised hopes for more good news on Friday, when the government releases its broader survey of the job market.

Benchmark U.S. crude fell $1.62 to close at $59.64 a barrel in New York. Brent crude, a benchmark for international oil used by many U.S. refineries, fell $1.69 to close at $63.80 in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 2 cents to close at $2.045 a gallon.

”” Heating oil fell 5.4 cents to close at $1.892 a gallon.

”” Natural gas fell 6.4 cents to close at $2.634 per 1,000 cubic feet.

Gold fell $9.50, or nearly 1 percent, to $1,184.90 an ounce.

Silver slipped 32 cents, or 2 percent, to $16.48 an ounce.

Copper edged down 1 cent to $2.72 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-170.69	points or ▼	-0.94%	on	Thursday, 4 June 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,905.58	▼	-170.69	▼	-0.94%		
	Nasdaq____	5,059.12	▼	-40.11	▼	-0.79%		
	S&P_500___	2,095.84	▼	-18.23	▼	-0.86%		
	30_Yr_Bond____	3.03	▼	-0.07	▼	-2.35%		

NYSE Volume	 3,210,475,250 	 	 	 	 	  		 
Nasdaq Volume	 1,783,752,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,859.24	▼	-91.22	▼	-1.31%		
	DAX_____	11,340.60	▼	-79.02	▼	-0.69%		
	CAC_40__	4,987.13	▼	-47.04	▼	-0.93%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,511.30	▼	-77.00	▼	-1.38%		
	Shanghai_Comp	4,947.10	▲	37.12	▲	0.76%		
	Taiwan_Weight	9,348.63	▼	-207.89	▼	-2.18%		
	Nikkei_225___	20,488.19	▲	14.68	▲	0.07%		
	Hang_Seng.__	27,551.89	▼	-105.58	▼	-0.38%		
	Strait_Times.__	3,347.26	▼	-2.58	▼	-0.08%		
	NZX_50_Index_	5,865.44	▲	6.73	▲	0.11%		

http://finance.yahoo.com/news/us-stocks-head-lower-greece-200551947.html

*US stocks head lower as Greece talks remain stuck

Wall Street follows Europe lower as Greece remains at impasse with creditors over loan terms*

Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Uncertainty surrounding Greece's debts helped knock the U.S. stock market lower Thursday as an impasse between Greece and its creditors dragged on. The drop put major indexes on track for a weekly loss. Oil and gas stocks had some of the biggest losses as the price of crude sank 3 percent.

Major indexes headed lower at the outset of trading, briefly returned to the starting line, then lost ground throughout the afternoon.

Hank Smith, chief investment officer at Haverford Trust, said he thinks Greece and its creditors will eventually reach an agreement that allows the country to receive new loans. But just the possibility that Greece could default on its debts and become the first country to drop the euro currency makes investors nervous. "It creates a tremendous amount of anxiety because we don't have a playbook," Smith said. "It just hasn't happened before."

The Standard & Poor's 500 index lost 18.23 points, or 0.9 percent, to finish at 2,095.84. All 10 industry groups in the Standard & Poor's 500 fell, with Du Pont and other materials companies leading the way down.

The Dow Jones industrial average fell 170.69 points, or 0.9 percent, to 17,905.58 and the Nasdaq composite lost 40.11 points, or 0.8 percent, to 5,059.12.

Before the market opened, J.M. Smucker reported a loss in its latest quarter even though sales climbed. The maker of Folger's coffee said higher prices for coffee beans and a strong dollar pinched results. Smucker's stock fell $4.44, or 4 percent, to $113.75.

A report that Dish Network is talking to T-Mobile US about a possible merger sent both stocks up. The Wall Street Journal said that the two sides have yet to nail down crucial details, including a purchase price. Dish's stock jumped $3.44, or 5 percent, to $74.25, while T-Mobile's surged $1.01, or 3 percent, to $39.34.

A meeting on Wednesday between Greece's Prime Minister, Alexis Tsipras, and the head of the European Union's executive arm ran into the early morning hours on Thursday yet failed to yield an agreement to release vital loans. Later Thursday, Greece told the International Monetary Fund that it would postpone a payment due Friday and bundle it together with three other payments at the end of the month.

Major European markets finished broadly lower, erasing gains made earlier in the week. Germany's DAX sank 0.7 percent, while the CAC-40 in France fell 0.9 percent. The FTSE 100 index of leading British shares lost 1.3 percent. Greece's main index slumped 1.3 percent.

"It looks like investors put a bit too much stock in the ... meeting last night," said Connor Campbell, a trader at Spreadex.

In Asia, Japan's benchmark Nikkei 225 index edged up 0.1 percent. In China, the Shanghai index finished 0.8 percent higher, while Hong Kong's Hang Seng fell 0.4 percent. Australia's S&P/ASX 200 dropped 1.4 percent.

Back in the U.S., government bond prices rose, pushing Treasury yields down. The yield on the 10-year Treasury note dropped to 2.31 percent from 2.36 percent late Wednesday.

Precious and industrial metals futures fell. Gold lost $9.70 to $1,175.20 an ounce, and silver sank 38 cents to $16.10 an ounce. Copper lost four cents to close at $2.69 a pound.

The price of oil fell nearly 3 percent on expectations that OPEC will decide to keep its output high at its Friday meeting in Vienna. Benchmark U.S. crude fell $1.64 to close at $58.00 a barrel in New York. Brent crude, a benchmark for international oil used by many U.S. refineries, fell $1.77 to close at $62.03 a barrel in London.

In other futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline fell 6.4 cents to close at $1.981 a gallon.

”” Heating oil fell 4.8 cents to close at $1.844 a gallon.

”” Natural gas fell 0.8 cents to close at $2.626 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-56.12	points or ▼	-0.31%	on	Friday, 5 June 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,849.46	▼	-56.12	▼	-0.31%		
	Nasdaq____	5,068.46	▲	9.33	▲	0.18%		
	S&P_500___	2,092.83	▼	-3.01	▼	-0.14%		
	30_Yr_Bond____	3.11	▲	0.08	▲	2.54%		

NYSE Volume	 3,259,034,250 	 	 	 	 	  		 
Nasdaq Volume	 1,819,666,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,804.60	▼	-54.64	▼	-0.80%		
	DAX_____	11,197.15	▼	-143.45	▼	-1.26%		
	CAC_40__	4,920.74	▼	-66.39	▼	-1.33%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,506.50	▼	-4.80	▼	-0.09%		
	Shanghai_Comp	5,023.10	▲	75.99	▲	1.54%		
	Taiwan_Weight	9,340.13	▼	-8.50	▼	-0.09%		
	Nikkei_225___	20,460.90	▼	-27.29	▼	-0.13%		
	Hang_Seng.__	27,260.16	▼	-291.73	▼	-1.06%		
	Strait_Times.__	3,333.67	▼	-11.33	▼	-0.34%		
	NZX_50_Index_	5,867.90	▲	2.46	▲	0.04%		

http://finance.yahoo.com/news/burst-hiring-drives-us-bonds-201053555.html

*Burst of hiring drives US bonds lower; stocks slip

Surge in US hiring sends bond yields higher as traders anticipate rate increase; stocks slip*

Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- A burst of hiring last month led to a drop in the bond market Friday as traders placed bets that the Federal Reserve would raise interest rates later this year. Despite the good economic news, the stock market drifted to another loss, finishing lower for the second week in a row.

The Labor Department reported that U.S. employers added 280,000 workers to their payrolls in May and also tweaked its estimate of hiring in March and April, raising hiring numbers for the two months by a combined 32,000.

Traders reacted immediately to the report, dropping U.S. government bonds and shooting yields up. The benchmark 10-year Treasury note bounced to a high for the year, 2.43 percent, before drifting back to 2.40 percent. The dollar gained strength against the Japanese yen and other major currencies.

"I was pleasantly surprised," said Russell Price, Ameriprise Financial's senior economist. "This adds to the recent spate of positive data that shows the economy is really pulling out of its winter slump."

But major stock indexes finished mixed. The Dow Jones industrial average fell 56.12 points, or 0.3 percent, to 17,849.46.

The Standard & Poor's 500 index lost 3.01 points, or 0.1 percent, to 2,092.83, while the Nasdaq edged up 9.33 points, or 0.2 percent, to 5,068.46.

Big banks and other companies that benefit from rising interest rates made gains: JPMorgan Chase, Wells Fargo, PNC Financial Services hit all-time highs.

Jeremy Zirin, head of investment strategy at UBS Wealth Management, said the rapid rise in interest rates over recent months has unsettled some investors. In April, when traders were more concerned about the strength of the global economy, the yield on the 10-year Treasury slipped below 1.90 percent.

In general, a rise in interest rates reflects economic growth, but a quick leap could slow the economy down by triggering a sudden drop in lending.

Zirin said investors "want to see the rise in bond yields be more tempered. They can handle higher interest rates as long as they come at a measured pace."

In Europe, markets were rattled by Greece's decision to bundle together its upcoming payments to the International Monetary Fund. The move heightened concerns that the country could default on its debts and drop the euro. It was the first time a developed country has taken the option of rolling debt payments together, an emergency move last taken up last by Zambia in the 1980s. At an emergency session of Greece's parliament on Friday, Prime Minister Alexis Tsipras said his government cannot accept "irrational" proposals like one made this week by the international organizations overseeing Greece's bailout.

Greece's stock market led the way lower. The benchmark Athens index slumped 5 percent. Elsewhere, both France's CAC 40 and Germany's DAX ended with a loss of 1.3 percent. Britain's FTSE 100 sank 0.8 percent.

Japan's Nikkei 225 finished with a drop of 0.1 percent, and South Korea's Kospi fell 0.2 percent. In China, Hong Kong's Hang Seng dropped 1.1 percent, and the Shanghai Composite Index gained 1.5 percent.

Precious and industrial metals futures settled mostly lower. Gold lost $7.10 to $1,168.10 an ounce, and silver slipped 12 cents to $15.98 an ounce. Copper picked up a penny to close at $2.69 a pound.

In other commodity trading, the price of oil rose 2 percent following news that the number of rigs drilling for oil in the U.S. decreased. Benchmark U.S. crude rose $1.13 to close at $59.13 a barrel in New York. Oil finished the week down 1 percent. Brent crude, a benchmark for international oil used by many U.S. refineries, rose $1.28 to close at $63.31 in London.

In other futures trading on the New York Mercantile Exchange:

— Wholesale gasoline rose 4.9 cents to close at $2.030 a gallon.

— Heating oil rose 2.6 cents to close at $1.870 a gallon.

— Natural gas fell 3.6 cents to close at $2.590 per 1,000 cubic feet.

6245


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-82.91	points or ▼	-0.46%	on	Monday, 8 June 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,766.55	▼	-82.91	▼	-0.46%		
	Nasdaq____	5,021.63	▼	-46.83	▼	-0.92%		
	S&P_500___	2,079.28	▼	-13.55	▼	-0.65%		
	30_Yr_Bond____	3.10	▼	-0.01	▼	-0.23%		

NYSE Volume	 2,918,886,000 	 	 	 	 	  		 
Nasdaq Volume	 1,691,527,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,790.04	▼	-14.56	▼	-0.21%		
	DAX_____	11,064.92	▼	-132.23	▼	-1.18%		
	CAC_40__	4,857.66	▼	-63.08	▼	-1.28%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,506.50	▼	-4.80	▼	-0.09%		Queens Birthday Holiday June 8 
	Shanghai_Comp	5,131.88	▲	108.78	▲	2.17%		
	Taiwan_Weight	9,368.43	▲	28.30	▲	0.30%		
	Nikkei_225___	20,457.19	▼	-3.71	▼	-0.02%		
	Hang_Seng.__	27,316.28	▲	56.12	▲	0.21%		
	Strait_Times.__	3,322.78	▼	-10.89	▼	-0.33%		
	NZX_50_Index_	5,885.81	▲	17.91	▲	0.31%		

http://finance.yahoo.com/news/us-stocks-end-lower-pushing-200955107.html
*
US stocks end lower, pushing Dow into the red for the year

US stocks slide, pushing Dow into red for year; Airlines drop amid worries about capacity*

Associated Press By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The Dow Jones industrial average slipped into the red for the year on Monday as stocks extended their slump.

Airlines were among the biggest losers amid concern that capacity growth in the industry may curb profitability. JetBlue Airways, American Airlines and Delta Air Lines were among the carriers that declined.

Stocks have sagged in the past two weeks as investors try to assess if Federal Reserve policymakers will raise their benchmark interest rate later this year for the first time since the recession. A stronger-than-forecast jobs report on Friday suggested that the economy is recovering from its winter slump.

The Fed has kept its benchmark interest rate unchanged at close to zero for more than six years to help support lending and boost the economy. Those low rates have also boosted the stock market in that time, pushing it to record levels.

"The market is suggesting that if the data continue at this pace, the Fed will be more inclined to raise rates in September, rather than waiting," said Quincy Krosby, a market strategist at Prudential Financial.

The Standard & Poor's 500 index dropped 13.55 points, or 0.7 percent, to 2,079.28. The Dow fell 82.91 points, or 0.5 percent, to 17,766.55, giving it a loss of 0.3 percent for 2015.

The Nasdaq composite declined 46.83 points, or 0.9 percent, to 5,021.63.

On Monday, slumped as industry executives met in Miami for the International Air Transportation group's annual general meeting.

American Airlines CEO Doug Parker told Reuters at the meeting Sunday that he was worried that growth in airline capacity could depress profits.

Brokerage Raymond James cut its earnings forecasts for American Airlines, Delta Air Lines and United Continental. The firm said in a note that "softer" economic growth would mean that airlines would struggle to raise fares as much as they had previously anticipated during the stronger summer months.

American Airlines was among the leading decliners in the S&P 500, dropping $1.86, or 4.5 percent, to $39.86. Delta Air Lines, United, Southwest Airlines and JetBlue also fell.

The drop for airlines extended a theme of weakness for the transport sector.

The Dow Jones Transportation average is down almost 9 percent this year, a slump that is giving a potentially worrying signal about the economy even as hiring picks up. A drop in transport companies could mean that fewer goods are being transported by boat, plane or rail, suggesting that demand remains weak six years after the end of the recession.

"You do want to see transport stocks gaining," said Prudential's Krosby. "It would lend confirmation (to expectations) that the economy is gaining that crucial momentum that we have been waiting for."

Talks between Greece and its creditors have been deadlocked since late last week, when Greek Prime Minister Alexis Tsipras rejected as unacceptable a proposal made by the three institutions overseeing the country's bailout: the European Central Bank, the International Monetary Fund and the European Commission.

A resolution to the talks is needed by June 30, when Greece's emergency financing program ends. Without fresh funds, Greece is unlikely to be able to repay its debts and could end up crashing out of the euro. Jitters over Greece's financial future have been a cloud over markets in recent days, notably in Germany, where the DAX index is down more than 10 percent from its April peak.

The Wall Street Journal reported that Greece's creditors have suggested extending the country's bailout program until the end of March 2016. The report cited people familiar with negotiations.

Still, some analysts forecast that the current weakness in stocks will prove transitory and stocks will eventually continue to move higher. That's because corporate profits are still strong and interest rates will still be low enough to boost growth.

"Even when the Fed begins to raise rates later this year, we will be going from zero to something that is slightly above zero," said Michael Arone, Chief Investment Strategist for State Street Global Advisors.

In energy trading, the price of oil fell as import data suggested a slowdown in Chinese trade, which could lead to weaker global demand for diesel, gasoline and other fuels.

Benchmark U.S. crude fell 99 cents to close at $58.14 a barrel in New York. Brent crude, a benchmark for international oil used by many U.S. refineries, fell 62 cents to close at $62.69 in London

In U.S. government bond trading, prices rose. The yield on the 10-year note fell to 2.38 percent. The yield had risen to its highest level of the year on Friday. The dollar slipped to 124.42 yen from 125.61 yen on Friday. The euro strengthened to $1.1298 from $1.1113.

Metals prices were little changed.

Gold rose $5.50, or 0.5 percent, to $1,173.60 an ounce. Silver dropped 2.5 cents, or 0.2 percent, to $15.96 an ounce and copper was little changed at $2.70 a pound

In other futures trading on the NYMEX:

— Wholesale gasoline fell 2.3 cents to close at $2.007 a gallon.

— Heating oil fell 1.5 cents to close at $1.855 a gallon.

— Natural gas rose 11.5 cents to close at $2.705 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-2.51	points or ▼	-0.01%	on	Tuesday, 9 June 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,764.04	▼	-2.51	▼	-0.01%		
	Nasdaq____	5,013.87	▼	-7.76	▼	-0.15%		
	S&P_500___	2,080.15	▲	0.87	▲	0.04%		
	30_Yr_Bond____	3.15	▲	0.05	▲	1.51%		

NYSE Volume	 3,017,609,750 	 	 	 	 	  		 
Nasdaq Volume	 1,731,601,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,753.80	▼	-36.24	▼	-0.53%		
	DAX_____	11,001.29	▼	-63.63	▼	-0.58%		
	CAC_40__	4,850.22	▼	-7.44	▼	-0.15%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,479.70	▼	-26.80	▼	-0.49%		
	Shanghai_Comp	5,113.53	▼	-18.35	▼	-0.36%		
	Taiwan_Weight	9,191.87	▼	-176.56	▼	-1.88%		
	Nikkei_225___	20,096.30	▼	-360.89	▼	-1.76%		
	Hang_Seng.__	26,989.52	▼	-326.76	▼	-1.20%		
	Strait_Times.__	3,295.13	▼	-25.20	▼	-0.76%		
	NZX_50_Index_	5,862.11	▼	-23.70	▼	-0.40%		

http://finance.yahoo.com/news/us-stocks-drift-mostly-lower-194739532.html

*US stocks drift mostly lower; Treasury rates rise

US indexes drift mostly lower, extending a weak streak; benchmark rate hits high for the year*

Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- With little news to drive trading, major market indexes drifted mostly lower in a listless day of trading on Tuesday. Bond prices fell, driving a benchmark interest rate to its high for the year, and crude oil jumped back above $60 a barrel.

John Canally, an investment strategist at LPL Financial, expects the market to coast until the Federal Reserve meets next week. "Basically, we're in a waiting period for the Fed," he said. "Today is probably what you can expect for the rest of the week: a lack of direction."

The Standard & Poor's 500 index picked up 0.87 of a point, a sliver of a percent, to finish at 2,080.15.

The Dow Jones industrial average slipped 2.51 points, less than 0.1 percent, to 17,764.04, while the Nasdaq composite lost 7.76 points, or 0.2 percent, to 5,013.87.

The major indexes have lost ground in recent weeks as investors speculated over the Federal Reserve's next move. Many think an improving economy will push the Fed to raise its benchmark interest rate later this year for the first time since the Great Recession. A solid jobs report on Friday suggested that the economy has started to recover from its winter slump.

Prices for U.S. government bonds dropped Tuesday, sending the yield on the 10-year Treasury note to a new high for the year, 2.44 percent. Signs that the economy has started to shake off its winter slump have driven long-term interest rates up over the past two months.

In other trading, United Natural Foods, a supplier to Whole Food Markets and other stores, slumped 5 percent after it posted results that fell short of analysts' targets late Monday. It also cut its full-year forecast for profits. The company's stock dropped $2.92 to $60.74.

Major stock markets in Europe extended their slump. Germany's DAX slipped 0.6 percent, and France's CAC 40 lost 0.2 percent. Britain's FTSE 100 finished with a loss of 0.5 percent.

HSBC Holdings, Europe's largest bank by market value, fell 1 percent in London after it said it was slashing jobs and shifting its focus toward Asia, where it has a large and growing business.

In Asia, Japan's Nikkei 225 sank 1.8 percent. China's Shanghai Composite shed 0.4 percent, while Hang Seng in Hong Kong fell 1.1 percent.

Back in the U.S., precious and industrial metals futures closed narrowly mixed. Gold rose $4 to settle at $1,177.60 an ounce, while silver was little changed at $15.96 an ounce. Copper edged up two cents to $2.71 a pound.

The price of oil surged as an Energy Department monthly report predicted a decline in U.S. output later this year and next. Benchmark U.S. crude jumped $2.00 to close at $60.14 a barrel in New York. Brent crude, a benchmark for international oil used by many U.S. refineries, rose $2.19 to close at $64.88 in London.

In other futures trading:

”” Wholesale gasoline rose 7 cents to close at $2.077 a gallon.

”” Heating oil rose 6.3 cents to close at $1.918 a gallon.

”” Natural gas rose 14.1 cents to close at $2.846 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	236.36	points or ▲	1.33%	on	Wednesday, 10 June 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,000.40	▲	236.36	▲	1.33%		
	Nasdaq____	5,076.69	▲	62.82	▲	1.25%		
	S&P_500___	2,105.20	▲	25.05	▲	1.20%		
	30_Yr_Bond____	3.21	▲	0.06	▲	1.84%		

NYSE Volume	 3,414,258,250 	 	 	 	 	  		 
Nasdaq Volume	 1,795,095,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,830.27	▲	76.47	▲	1.13%		
	DAX_____	11,265.39	▲	264.10	▲	2.40%		
	CAC_40__	4,934.91	▲	84.69	▲	1.75%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,486.00	▲	6.30	▲	0.11%		
	Shanghai_Comp	5,106.04	▼	-7.50	▼	-0.15%		
	Taiwan_Weight	9,298.50	▲	106.63	▲	1.16%		
	Nikkei_225___	20,046.36	▼	-49.94	▼	-0.25%		
	Hang_Seng.__	26,687.64	▼	-301.88	▼	-1.12%		
	Strait_Times.__	3,325.77	▲	30.64	▲	0.93%		
	NZX_50_Index_	5,803.87	▼	-58.24	▼	-0.99%		

http://finance.yahoo.com/news/us-stocks-rally-breaking-weeklong-154056971.html

*US stocks rally, breaking a weeklong losing streak

US stock market surges, breaking a weeklong slump; Dow average erases its loss for the year*

Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Signs of progress in negotiations over Greece's debts helped launch a stock market rally Wednesday, snapping a weeklong slump.

The rally was broad: All 30 stocks in the Dow Jones industrial average and all 10 industry groups in the S&P 500 index made gains.

"Everybody's screen is full of green," said Matt Kaufler, a fund manager at Federated Investors.

Major indexes started higher at the opening of trading, putting the market on track for solid gains. Around midday, Bloomberg reported that German Chancellor Angela Merkel may be willing to release more money from Greece's bailout fund if the Greek government commits to at least one move to tighten its budget. Without a deal by the end of the month, Greece faces the prospect of going bankrupt and dropping the euro.

The stock market surged after the news broke and held most of its gains until the closing bell.

The Standard & Poor's 500 index climbed 25.05 points, or 1.2 percent, to close at 2,105.20. It was the best day for the broad-market benchmark in a month.

The Dow Jones industrial average rallied 236.36 points, or 1.3 percent, to 18,000.40, while the Nasdaq composite gained 62.82 points, or 1.3 percent, to 5,076.69.

U.S. government bond prices continued to slide. The drop nudged the yield on the 10-year Treasury note to another high for the year, 2.49 percent. In late trading the yield was 2.48 percent. Long-term interest rates have surged in recent months as the economy shows signs of shaking off its winter slump.

"The market is starting to price in an improving economy," said Brad McMillan, the chief investment officer at Commonwealth Financial. "And we're seeing a lot of great economic numbers."

McMillan pointed to last Friday's report from the Labor Department that showed employers added 280,000 workers to their payrolls last month. Wages, which had barely moved in previous months, also edged up. "There was just a lot to like in that report," he said.

Major markets in Europe finished with solid gains Wednesday. Germany's DAX jumped 2.4 percent, while France's CAC-40 closed with a gain of 1.7 percent. The FTSE 100 index of leading British shares added 1.1 percent.

The yen jumped against the dollar after the head of the Bank of Japan said the country's currency was unlikely to continue its slump. The dollar fell 1.4 percent to 122.64 yen.

Japan's benchmark Nikkei 225 slipped 0.2 percent, and South Korea's Kospi shed 0.6 percent. Hong Kong's Hang Seng lost 1.1 percent, while Australia's S&P/ASX 200 closed 0.1 percent lower.

Back in the U.S., Netflix's stock soared to a new high after shareholders cleared the way for the Internet video service to split its stock. Netflix rose $23.95, or 4 percent, to $671.10. Netflix has nearly doubled in price this year.

An announcement by Johnson Controls, an industrial parts supplier, that it was considering splitting off its automotive business propelled the company's stock higher. Johnson Controls gained $2.03, or 4 percent, to $53.59.

In the commodity markets, precious and industrial metals futures settled slightly higher. Gold rose $9 to $1,186.60 an ounce, while silver was unchanged at $15.96 an ounce. Copper picked up 3 cents to close at $2.75 a pound.

The price of oil closed at its highest level since December after the Energy Department's weekly supply report showed a surprisingly big drop in crude inventories along with rising demand for gasoline.

Benchmark U.S. crude rose $1.29 to close at $61.43 a barrel in New York. Brent crude, a benchmark for international oil used by many U.S. refineries, rose 82 cents to close at $65.70 a barrel in London.

In other futures trading:

”” Wholesale gasoline rose 6.9 cents to close at $2.146 a gallon.

”” Heating oil rose 2.8 cents to close at $1.946 a gallon.

”” Natural gas rose 4.5 cents to close at $2.891 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	38.97	points or ▲	0.22%	on	Thursday, 11 June 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,039.37	▲	38.97	▲	0.22%		
	Nasdaq____	5,082.51	▲	5.82	▲	0.11%		
	S&P_500___	2,108.86	▲	3.66	▲	0.17%		
	30_Yr_Bond____	3.11	▼	-0.10	▼	-3.24%		

NYSE Volume	 3,139,819,000 	 	 	 	 	  		 
Nasdaq Volume	 1,626,314,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,846.74	▲	16.47	▲	0.24%		
	DAX_____	11,332.78	▲	67.39	▲	0.60%		
	CAC_40__	4,971.37	▲	36.46	▲	0.74%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,562.60	▲	76.60	▲	1.40%		
	Shanghai_Comp	5,121.59	▲	15.56	▲	0.30%		
	Taiwan_Weight	9,302.49	▲	3.99	▲	0.04%		
	Nikkei_225___	20,382.97	▲	336.61	▲	1.68%		
	Hang_Seng.__	26,907.85	▲	220.21	▲	0.83%		
	Strait_Times.__	3,347.67	▲	21.90	▲	0.66%		
	NZX_50_Index_	5,858.41	▲	54.55	▲	0.94%		

http://finance.yahoo.com/news/us-stocks-end-higher-building-201042284.html

*US stocks end higher, building on gains of a day earlier

Stocks gain broadly after an encouraging gain in retail sales last month; energy stocks fall*

Associated Press By Bernard Condon, AP Business Writer

NEW YORK (AP) -- Stocks rose for a second day after an encouraging report on retail sales suggested that Americans are finally feeling confident enough to spend more.

The market climbed from the start of trading on Thursday, pulled back at mid-morning on fears over a possible Greek default, but managed to hold on to modest gains across industries. Seven of the 10 sectors of the Standard and Poor's 500 rose, led by a 0.7 percent increase in utility stocks.

Investors have worried that corporate profits would stall if the U.S. economy, and the consumers who drive much of its growth, didn't show more vigor. The retail report for May helped ease those concerns, for the moment at least.

"Today's news suggests that the consumer is back on track," said Clark Yingst, chief stock strategist at Joseph Gunnar & Co.

The S&P 500 climbed 3.66 points, or 0.2 percent, to 2,108.86. The Dow Jones industrial average increased 38.97 points, or 0.2 percent, to 18,039.37. The Nasdaq composite rose 5.82 points, or 0.1 percent, to 5,082.51.

A drop in the price of oil pushed down energy stocks. The top 5 biggest losers in the S&P 500 were all energy companies. Offshore-rig owner Transocean fell 5 percent.

Investors have been watching economic news closely. The economy contracted in the first three months of this year, but recent data, including a report last week of a burst of hiring last month, suggest things are picking up.

The retail report showed that Americans ramped up their spending on autos, building materials and clothing, a sign that strong job growth is starting to boost sales at stores. Retail sales climbed 1.2 percent in May, the Commerce Department said.

James Abate, chief investment officer at Centre Funds, said investors want the economy to strengthen, but not so much as to force interest rates up. Ultra-low rates have helped send stocks higher in the past six years.

Abate said the retail report seemed to strike the right balance.

"Retail sales are showing some strength, but not so much to get the Federal Reserve to act in an aggressive manner to raise rates," Abate said.

The rise in U.S. stocks followed a climb overseas on hopes that Greece was making progress in its talks with creditors. The rally, which started in Asia and spread to Europe, faded after news that creditors had told Greek Prime Minister Alexis Tsipras to tone down his demands over the next week or face financial ruin. The International Monetary Fund took the toughest stance, saying it was bringing its negotiators back to Washington.

Germany's DAX ended the day up 0.6 percent, half as high as it was earlier in the day. France's CAC 40 added 0.7 percent while Britain's FTSE 100 rose 0.2 percent.

Among other U.S. stocks making moves, Boeing gained $1.34, or 1 percent, to $142.96 after predicting demand for planes will rise as millions of people in developing countries fly for the first time. Boeing forecast a need for 43,560 airplanes worldwide by 2034, double the existing fleet.

Amgen rose $2.41, or 1.5 percent, to $157.96 after a panel of advisers at the Food and Drug Administration recommended approval of a cholesterol-lowering drug for people at especially high risk of clogged arteries.

Citrix Systems jumped 7 percent after the software company received a letter from investment firm Elliott Management proposing a shakeup in strategy. The software company rose $4.42 to $70.39.

In afterhours trading, Twitter jumped $2.66, or 7 percent, to $38.50 after announcing that CEO Dick Costolo will step down after almost five years leading the company.

Benchmark U.S. crude fell 66 cents to close at $60.77 a barrel in New York after the International Energy Agency projected higher global crude production in a monthly report. Brent crude, a benchmark for international oil used by many U.S. refineries, fell 59 cents to close at $65.11 in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 0.8 cent to close at $2.138 a gallon.

”” Heating oil fell 2.5 cents to close at $1.921 a gallon.

”” Natural gas fell 6.6 cents to close at $2.825 per 1,000 cubic feet.

The euro fell slightly to $1.1258 from $1.1348 late Wednesday. The dollar rose to 123.45 yen from 122.70 yen.

In government bond trading, the yield on the 10-year Treasury note fell to 2.38 percent, down sharply from 2.49 percent the day before, its highest level of the year.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-140.53	points or ▼	-0.78%	on	Friday, 12 June 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,898.84	▼	-140.53	▼	-0.78%		
	Nasdaq____	5,051.10	▼	-31.41	▼	-0.62%		
	S&P_500___	2,094.11	▼	-14.75	▼	-0.70%		
	30_Yr_Bond____	3.10	▼	-0.01	▼	-0.19%		

NYSE Volume	 2,719,436,500 	 	 	 	 	  		 
Nasdaq Volume	 1,430,966,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,784.92	▼	-61.82	▼	-0.90%		
	DAX_____	11,196.49	▼	-136.29	▼	-1.20%		
	CAC_40__	4,901.19	▼	-70.18	▼	-1.41%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,552.10	▼	-10.50	▼	-0.19%		
	Shanghai_Comp	5,166.35	▲	44.76	▲	0.87%		
	Taiwan_Weight	9,301.93	▼	-0.56	▼	-0.01%		
	Nikkei_225___	20,407.08	▲	24.11	▲	0.12%		
	Hang_Seng.__	27,280.54	▲	372.69	▲	1.39%		
	Strait_Times.__	3,353.85	▲	6.18	▲	0.18%		
	NZX_50_Index_	5,846.97	▼	-11.45	▼	-0.20%		

http://finance.yahoo.com/news/greek-jitters-upset-us-european-203822629.html

*Greek jitters upset US, European stock markets

US, European stock markets sag after creditor walks away from Greek debt talks*

Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- A setback in talks between Greece and its creditors helped knock the stock market lower on Friday, amid renewed concerns that the country could default on its debts.

Despite the drop, the Standard & Poor's 500 index managed to eke out a 1-point gain for the week, snapping a two-week slump.

An unexpected decision by the International Monetary Fund to walk away from talks with Greece spurred the selling. At a summit meeting in Brussels late Thursday, the IMF pulled its negotiators out of talks with Greece, saying there had been no progress and that major differences remained on key issues. Without a deal by the end of the month, Greece faces the prospect of going bankrupt and dropping the euro currency.

Markets are likely to make sudden turns until Greece and its creditors reach a deal, said Ninh Chung, head of investment strategy at SVB Asset Management. Earlier this week, stocks on both sides of the Atlantic rallied on reports of progress in the talks.

"There had been optimism over Greece," Chung said, "and now it seems like we've had a complete 180."

The S&P 500 slipped 14.75 points, or 0.7 percent, to close at 2,094.11. The Dow Jones industrial average fell 140.53 points, or 0.8 percent, to 17,898.84, and the Nasdaq composite lost 31.41 points, or 0.6 percent, to 5,051.10.

The losses were modest but broad: All 30 companies in the Dow and all 10 industries in the S&P 500 finished with losses.

Speculation over Greece's fate and the Federal Reserve's first interest rate increase have weighed on markets over recent weeks. Many think an improving U.S. economy will push the Fed to raise its benchmark interest rate later this year for the first time since the Great Recession. The Fed's ultra-cheap interest rates have helped fuel the six-year bull market in stocks.

"I'm not sure the downside risk with Greece is as big as investors believe, but it's caught investors' attention," said Jack Ablin, chief investment officer at BMO Private Bank. "It's the same with the Fed tightening."

Major indexes in Europe slumped on Friday, wiping out gains from earlier in the week. Greece's market fell the most, with the main Athens index down 6 percent. Germany's DAX sank 1.2 percent, and the CAC-40 in France finished with a loss of 1.4 percent. Britain's FTSE 100 lost 1 percent.

In Asia, Japan's Nikkei 225 inched up 0.1 percent. In China, the Shanghai composite index advanced 0.9 percent, and Hong Kong's Hang Seng rose 1.4 percent.

Back in the U.S., shares of Wingstop vaulted 61 percent in their first day of trading as a public company. The chicken-wings chain raised $110.2 million in its initial public offering late Thursday, selling shares at $19 each. Wingstop soared $11.59 to $30.59.

Government bond prices wavered, finishing the day slightly lower. The yield on the10 -year Treasury inched up to 2.39 percent from 2.38 percent the day before.

In metals trading, gold fell $1.20 to settle at $1,179.20 an ounce, while silver slipped 14 cents to $15.83 an ounce. Copper picked up a penny to $2.68 a pound.

Oil fell for a second straight day after reaching a high for the year on Wednesday. Benchmark crude oil sank 81 cents to settle at $59.96 a barrel. Brent crude, an international benchmark, dropped $1.24 to $63.87 a barrel.

In other trading on the New York Mercantile Exchange:

— Wholesale gasoline fell 1.7 cents to $2.121 a gallon

— Heating oil declined 3.18 cents to $1.889 a gallon

— Natural gas dropped 7.5 cents to $2.75 per 1,000 cubic feet.

6848


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-107.67	points or ▼	-0.60%	on	Monday, 15 June 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,791.17	▼	-107.67	▼	-0.60%		
	Nasdaq____	5,029.97	▼	-21.13	▼	-0.42%		
	S&P_500___	2,084.43	▼	-9.68	▼	-0.46%		
	30_Yr_Bond____	3.09	▼	-0.01	▼	-0.29%		

NYSE Volume	 3,063,681,000 	 	 	 	 	  		 
Nasdaq Volume	 1,791,709,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,710.52	▼	-74.40	▼	-1.10%		
	DAX_____	10,984.97	▼	-211.52	▼	-1.89%		
	CAC_40__	4,815.36	▼	-85.83	▼	-1.75%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,541.50	▼	-10.60	▼	-0.19%		
	Shanghai_Comp	5,062.99	▼	-103.36	▼	-2.00%		
	Taiwan_Weight	9,259.48	▼	-42.45	▼	-0.46%		
	Nikkei_225___	20,387.79	▼	-19.29	▼	-0.09%		
	Hang_Seng.__	26,861.81	▼	-418.73	▼	-1.53%		
	Strait_Times.__	3,323.13	▼	-30.72	▼	-0.92%		
	NZX_50_Index_	5,819.97	▼	-27.00	▼	-0.46%		

http://finance.yahoo.com/news/us-stock-market-ends-lower-200836406.html
*
US stock market ends lower as Greek bailout talks stall

Worries over Greek bailout, discouraging US manufacturing data weigh down stock market*

Associated Press By Alex Veiga, AP Business Writer

Concerns over Greece's latest effort to avoid a default weighed on U.S. financial markets Monday.

The Dow Jones industrial average slipped 107.67 points, or 0.6 percent, to 17,791.17. The Standard & Poor's 500 index slid 9.68 points, or 0.5 percent, to 2,084.43. The Nasdaq composite lost 21.13 points, or 0.4 percent, to 5,029.97.

Monday's slide got started early after weekend negotiations between Greece and its creditors failed to get the struggling nation closer to a bailout deal.

Greek leaders want to get access to the final 7.2 billion euros ($8.2 billion) of their bailout program that's needed to repay debts and avoid a possible default that could trigger an exit from the euro; the bailout package expires at the end of the month.

"All eyes, including our own, are on Greece," said Erik Davidson, chief investment officer for Wells Fargo Private Bank. "This is a grand experiment and if it were to go awry, it would certainly have implications."

Investors also got some discouraging news from the Federal Reserve Bank of New York's latest Empire State manufacturing index. This month's reading fell to negative 2, which means manufacturing activity is contracting. The report suggested manufacturers are still being held back by a strong dollar and cutbacks in investment by oil and gas drillers.

Traders did get some good news on the homebuilding sector. A survey of U.S. homebuilders vaulted to the highest level since last fall, and separate measures of builders' sales expectations jumped to housing boom-era levels.

The report helped lift shares of most homebuilders. California builders Standard Pacific and Ryland Group, which announced late Sunday that they will combine later this year, were among the biggest gainers in the sector.

Standard Pacific added 47 cents, or 5.6 percent, to $8.83. Ryland rose $2.23, or 5.2 percent, to $45.02.

Nine of the 10 sectors in the S&P 500 fell, with industrials stocks leading the declines.

Beyond the day's action, investors were looking ahead to Wednesday's meeting of the Federal Reserve's policymakers, when the central bank is expected to deliver an update on its interest rate policy.

Wall Street has been trying to gauge when the Fed will begin raising its key interest rate from near zero. Many economists anticipate such a move could come as soon as September.

"When the doctor comes in and tells you we're going to take you off your medication it's usually good news," said Davidson. "At the same time, there's a prevailing sentiment that much of the run-up in the stock market has been a direct result of stimulus."

Benchmark U.S. crude oil continued to fall, losing 44 cents to close at $59.52 a barrel on the New York Mercantile Exchange. The contract hit a high for the year last Wednesday but has been falling since then.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.36 percent from 2.39 percent late Friday.

Precious and industrial metals futures closed mixed. Gold rose $6.60 to $1,185.80 an ounce, silver rose 26 cents to $16.08 an ounce and copper fell three cents to $2.65 a pound.

In energy futures trading: Brent crude fell $1.26 to $62.61 a barrel, wholesale gasoline slipped 2 cents to $2.10 a gallon, heating oil eased 2 cents to $1.87 a gallon, and natural gas rose 14 cents to 2.90 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	113.31	points or ▲	0.64%	on	Tuesday, 16 June 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,904.48	▲	113.31	▲	0.64%		
	Nasdaq____	5,055.55	▲	25.58	▲	0.51%		
	S&P_500___	2,096.29	▲	11.86	▲	0.57%		
	30_Yr_Bond____	3.05	▼	-0.04	▼	-1.20%		

NYSE Volume	 2,905,981,250 	 	 	 	 	  		 
Nasdaq Volume	 1,655,304,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,710.10	▼	-0.42	▼	-0.01%		
	DAX_____	11,044.01	▲	59.04	▲	0.54%		
	CAC_40__	4,839.86	▲	24.50	▲	0.51%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,535.20	▼	-6.30	▼	-0.11%		
	Shanghai_Comp	4,887.43	▼	-175.56	▼	-3.47%		
	Taiwan_Weight	9,212.78	▼	-46.70	▼	-0.50%		
	Nikkei_225___	20,257.94	▼	-129.85	▼	-0.64%		
	Hang_Seng.__	26,566.70	▼	-295.11	▼	-1.10%		
	Strait_Times.__	3,298.09	▼	-25.04	▼	-0.75%		
	NZX_50_Index_	5,813.93	▼	-6.04	▼	-0.10%		

http://finance.yahoo.com/news/focus-talk-company-deals-sends-211814681.html

*Focus on talk of company deals sends US stock indexes higher

Deal talk drives US stocks higher; Aetna climbs on reports of UnitedHealth interest*

Associated Press By Alex Veiga, AP Business Writer

Signs of more corporate dealmaking sent U.S. stocks higher on Tuesday, allowing investors to take their mind off Greece's debt troubles.

Investors were also looking ahead to Wednesday's economic and interest rate policy update from the Federal Reserve. They'll be looking for hints as to when the central bank will begin raising its key interest rate after holding it close to zero for more than six years.

Many economists expect the central bank will raise its rate in September if the economy keeps strengthening. Ultra-low rates have helped drive the six-year bull market. Stocks have managed only small gains this year, as investors have obsessed about the outlook for interest rates.

"The sooner they define it and actually do it, the better off for the market," said JJ Kinahan, TD Ameritrade's chief strategist. "The market just wants something tangible to trade on, and between the Fed and Greece we're getting neither."

The Dow Jones industrial average gained 113.31 points, or 0.6 percent, to 17,904.48. The Standard & Poor's 500 index rose 11.86 points, or 0.6 percent, to 2,096.29. The Nasdaq composite rose 25.58 points, or 0.5 percent, to 5,055.55.

All 10 sectors in the S&P 500 index moved higher, with consumer staples leading the gains. The sector rose 1.1 percent, but remains down 1.4 percent this year.

Aetna rose 3.3 percent after The Wall Street Journal reported that UnitedHealth Group approached the rival health insurer about a deal. Aetna added $3.96 to $124.97. UnitedHealth Group gained $2.57, or 2.2 percent, to $121.55.

Perrigo climbed gained $7.95, or 4.3 percent, to $191.25 as traders anticipated that it may be acquired by a rival. Mylan, a maker of generic drugs, has said it wants to buy the company, but is being targeted itself by Teva Pharmaceuticals.

On Tuesday, Abbott Laboratories, Mylan's biggest shareholder, said that it backed Mylan's plan to remain a stand-alone company. Teva has made a $40 billion bid for Mylan, but wants that company to drop its pursuit of Perrigo.

Coty surged 19.3 percent on news reports that the cosmetics and fragrance company has won an auction to buy several Procter & Gamble businesses. Coty gained $5.03 to $31.08.

News that U.S. homebuilders broke ground on fewer homes last month sent shares in homebuilders lower. Meritage Homes fell the most, losing 59 cents, or 1.3 percent, to $43.58.

European stocks were mixed. France's CAC 40 rose 0.5 percent, while Germany's DAX added 0.5 percent. Britain's FTSE 100 was flat. Greece's main stock index sank 4.8 percent.

In energy trading, benchmark U.S. crude rose 45 cents to close at $59.97 a barrel in New York. Brent crude for August delivery, a benchmark for international oil used by many U.S. refineries, fell 25 cents to close at $63.70 a barrel in London. The Brent contract for July delivery expired Monday at $62.61.

In other futures trading, wholesale gasoline rose 2.6 cents to close at $2.125 a gallon, while heating oil rose 1.5 cents to close at $1.885 a gallon. Natural gas fell 0.5 cent to close at $2.894 per 1,000 cubic feet.

In precious metals trading, gold dropped $4.90 to $1,180 an ounce. Silver fell 11.8 cents to $15.97 an ounce. Copper slipped 3 cents to $2.62 a pound.

Bond prices rose. The yield on the 10-year Treasury note edged down to 2.31 percent from 2.36 percent late Monday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	31.26	points or ▲	0.17%	on	Wednesday, 17 June 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,935.74	▲	31.26	▲	0.17%		
	Nasdaq____	5,064.88	▲	9.33	▲	0.18%		
	S&P_500___	2,100.44	▲	4.15	▲	0.20%		
	30_Yr_Bond____	3.07	▲	0.02	▲	0.62%		

NYSE Volume	 3,224,647,500 	 	 	 	 	  		 
Nasdaq Volume	 1,714,043,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,680.55	▼	-29.55	▼	-0.44%		
	DAX_____	10,978.01	▼	-66.00	▼	-0.60%		
	CAC_40__	4,790.62	▼	-49.24	▼	-1.02%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,590.30	▲	55.10	▲	1.00%		
	Shanghai_Comp	4,967.90	▲	80.47	▲	1.65%		
	Taiwan_Weight	9,189.83	▼	-22.95	▼	-0.25%		
	Nikkei_225___	20,219.27	▼	-38.67	▼	-0.19%		
	Hang_Seng.__	26,753.79	▲	187.09	▲	0.70%		
	Strait_Times.__	3,333.49	▲	35.40	▲	1.07%		
	NZX_50_Index_	5,779.26	▼	-34.67	▼	-0.60%		

http://finance.yahoo.com/news/us-stocks-rise-fed-stands-201348966.html

*US stocks rise after Fed stands pat on rates

Stocks gain after Fed says it's seeing improvement in economy, but not enough to raise rates*
Associated Press By Alex Veiga, AP Business Writer

Stocks edged higher Wednesday after the Federal Reserve reassured investors it was in no rush to raise interest rates from historically low levels.

The central bank said that the economy is strengthening, but not enough for policymakers to signal an imminent rate hike. The Fed's benchmark rate has remained near zero for more than six years in an effort to bolster the economy and encourage borrowing, lending and investment.

Surging stocks and ultra-low rates have gone hand-in-hand over the last six years, pushing the market to all-time highs.

"This makes the market feel more confident," said Alan Rechtschaffen, financial advisor at UBS Wealth Management Americas.

As the economy has recovered investors have been trying to gauge not only when the Fed will begin raising rates, but also how aggressively it will move. Investors worry that if rates climb too quickly, the economy will slump.

The Dow Jones industrial average gained 31.26 points, or 0.2 percent, to 17,935.74. The Standard & Poor's 500 index rose 4.15 points, or 0.2 percent, to 2,100.44. The Nasdaq composite rose 9.33 points, or 0.2 percent, to 5,064.88.

Bond prices also rose after the Fed released its statement at 2 p.m. Eastern time. The yield on the 10-year Treasury note fell to 2.31 percent from 2.38 percent just before the statement was released.

Fed Chair Janet Yellen told reporters after a two-day policy meeting that the central bank needs to see more gains in employment and stronger signs of inflation before raising rates. She didn't provide a timetable for an increase, but most economists expect the Fed to move later this year.

Utilities gained the most of the 10 sectors in the S&P 500.

Investors buy the dividend-rich stocks to provide them with an income. Low rates make them look attractive compared to bonds.

The major stock indexes remain close to their record highs set in May, but have sagged in the past month as investors have focused on the outlook for rates.

The Dow is still up 0.6 percent this year despite dropping 2 percent from its last record close on May 19. The S&P 500 is up 2 percent for the year and off 1.4 percent from its high on May 21.

Aside from the Fed, investors were also keeping an eye on negotiation between Greece and its lenders.

Greece remains deadlocked in talks with its creditors Wednesday and there was little sign of a breakthrough a day ahead of a meeting of the 19 finance ministers from countries that use the euro. Greece needs to get more loans before the end of the month, when its bailout program expires and it is scheduled to make a big payment to the International Monetary Fund.

European markets have slumped in the last month as the talks have failed to produce an agreement. Greek markets are suffering the most. The nation's benchmark index sank 3 percent Wednesday and is down 18 percent this year.

Yields on Greek government bonds have surged as investors' confidence in the country's ability to pay its debt has waned. The yield on the Greek 10-year government bond has climbed to 13 percent from 6 percent a year ago.

Back in the U.S., investors welcomed the latest round of corporate deals.

Kythera Biopharmaceuticals surged 22.1 percent to $74.11 after Botox maker Allergan agreed to buy the drugmaker for about $2.1 billion. The deal would add a product that reduces double chins to Allergan's portfolio. Allergan added 77 cents to $298.79.

Medical technology company Hill-Rom Holdings climbed 6.3 percent to $55.70 after it agreed to buy privately held rival Welch Allyn for about $2.05 billion in a cash-and-stock deal.

In energy trading, the price of U.S. oil ended little changed after a volatile day. Oil prices had sagged after the Energy Department's weekly supply report showed a surprise increase in gasoline inventories.

Benchmark U.S. crude fell 5 cents to close at $59.92 a barrel in New York. Brent crude, a benchmark for international oil used by many U.S. refineries, rose 17 cents to close at $63.87 in London.

In metals trading, gold prices slipped $4.10, or 0.3 percent, to $1,176 an ounce. Silver fell 2 cents to $15.95 an ounce and copper dropped 1 cent to $2.60 an ounce.

In other futures trading, wholesale gasoline fell 2.4 cents to close at $2.101 a gallon. Heating oil rose 2.5 cents to close at $1.910 a gallon. Natural gas fell 3.9 cents to close at $2.855 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	180.1	points or ▲	1.00%	on	Thursday, 18 June 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,115.84	▲	180.10	▲	1.00%		
	Nasdaq____	5,132.95	▲	68.07	▲	1.34%		
	S&P_500___	2,121.24	▲	20.80	▲	0.99%		
	30_Yr_Bond____	3.14	▲	0.07	▲	2.25%		

NYSE Volume	 3,569,062,250 	 	 	 	 	  		 
Nasdaq Volume	 1,879,793,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,707.88	▲	27.33	▲	0.41%		
	DAX_____	11,100.30	▲	122.29	▲	1.11%		
	CAC_40__	4,803.48	▲	12.86	▲	0.27%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,522.70	▼	-67.60	▼	-1.21%		
	Shanghai_Comp	4,785.36	▼	-182.54	▼	-3.67%		
	Taiwan_Weight	9,218.37	▲	28.54	▲	0.31%		
	Nikkei_225___	19,990.82	▼	-228.45	▼	-1.13%		
	Hang_Seng.__	26,694.66	▼	-59.13	▼	-0.22%		
	Strait_Times.__	3,300.42	▼	-25.49	▼	-0.77%		
	NZX_50_Index_	5,749.71	▼	-29.56	▼	-0.51%		

http://finance.yahoo.com/news/us-stocks-rise-sharply-fed-212248717.html

*US stocks rise sharply on Fed relief; Nasdaq sets record

US stocks rise sharply on Fed rate relief; Nasdaq closes at all-time high*
Associated Press By Alex Veiga, AP Business Writer

U.S. stocks notched their biggest gains in a week Thursday, pushing the Nasdaq composite index to an all-time high.

The rally came a day after the Federal Reserve suggested that it wasn't planning to raise interest rates right away. Ultra-low rates over the past six years have helped drive a bull market in stocks that has pushed the market to record levels.

The central bank said Wednesday that it needs to see more improvement in the economy and stronger signs of inflation before lifting rates, reassuring investors.

"The Fed's likely to raise rates later this year, but maybe not as aggressively as some market participants worried," said Michael Baele, managing director and senior portfolio manager at U.S. Bank Private Client Reserve.

The Dow Jones industrial average gained 180.10 points, or 1 percent, to 18,115.84. The Standard & Poor's 500 index climbed 20.80 points, or 1 percent, to 2,121.24.

The Nasdaq added 68.07 points, or 1.3 percent, closing at 5,132.95, surpassing the most recent high for the index of 5,106.59 set May 27.

Most major U.S. stock indexes are up for the year, but the Nasdaq is turning in the best performance. It's up 8.4 percent, compared with a gain of 3 percent for the S&P 500 index and 1.6 percent for the Dow.

The Nasdaq's rise has been driven by technology and health care. In a slow-growth world, investors are favoring stocks where earnings will be better than average. Faster-growing companies should also fare better should rates eventually rise, said Peter Cardillo, chief market economist at Rockwell Global Capital.

While the Nasdaq, which tracks 2,500-plus stocks, has been steadily climbing since 2011, its ascent isn't the crazed surge that drove it to its dot-com bubble era highs in 2000. This time the gains are underpinned by solid companies said Stephen Freedman, senior investment strategist at UBS Wealth Management Americas.

The average price-earnings ratio of the Nasdaq, a measure of how much investors are willing to pay for every dollar of earnings the companies in the index generate, is currently 21. When the Nasdaq was at its highest, the ratio reached 194.

Drug developer BioMarin Pharmaceuticals and biotechnology company Radius Health were among the big gainers in the index on Thursday. Both companies reported positive news on treatments still in development.

BioMarin vaulted $15.06, or 12.2 percent, to $138.66, while Radius added $7.91, or 15.3 percent, to $59.64.

Investors also welcomed the market debut of fitness-tracking gear company Fitbit on Thursday.

The company's stock jumped $9.68, or 48.4 percent, to $29.68 after pricing its initial public offering at $20 per share.

Traders also got an indication that the economy was recovering from its weak start to the year.

An index designed to predict the future health of the economy posted a second straight strong increase in May, indicating the economy should gain strength in the second half of this year. Separately, weekly applications for unemployment benefits fell last week to a seasonally adjusted 267,000, near 15-year lows reached two months ago.

Despite the upbeat day, investors still haven't forgotten about Greece.

The debt-stricken nation and its international lenders are deadlocked in bailout talks. Greece needs more loans from its creditors before June 30, when its current bailout program expires and a 1.6 billion euro ($1.8 billion) debt repayment is due. Greece and its creditors blame one another for an impasse in the talks. A default could result in Greece leaving the euro currency bloc, dealing a blow to the project.

Bonds edged lower, pushing the yield on the benchmark 10-year Treasury note up to 2.33 percent from 2.32 percent late Wednesday.

The dollar weakened as traders priced in a lower trajectory for Fed rate increases. The U.S. currency dropped to 122.83 yen from 123.58 yen on Wednesday. The euro strengthened slightly to $1.1404 from $1.1354.

The price of oil rose Thursday as the dollar weakened, making oil more attractive to holders of foreign currencies. Benchmark U.S. crude rose 53 cents to close at $60.45 a barrel in New York. Brent crude, a benchmark for international oil used by many U.S. refineries, rose 39 cents to close at $64.26 in London.

In metals trading, gold rose $25.20 to $1,202 an ounce. Silver climbed 21 cents to $16.15 an ounce. Copper was little changed at $2.60 a pound.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 1 cent to close at $2.111 a gallon.

”” Heating oil rose 0.5 cent to close at $1.915 a gallon.

”” Natural gas fell 7.8 cents to close at $2.777 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-99.89	points or ▼	-0.55%	on	Friday, 19 June 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,015.95	▼	-99.89	▼	-0.55%		
	Nasdaq____	5,117.00	▼	-15.95	▼	-0.31%		
	S&P_500___	2,109.99	▼	-11.25	▼	-0.53%		
	30_Yr_Bond____	3.06	▼	-0.09	▼	-2.71%		

NYSE Volume	 4,452,625,000 	 	 	 	 	  		 
Nasdaq Volume	 2,472,158,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,710.45	▲	2.57	▲	0.04%		
	DAX_____	11,040.10	▼	-60.20	▼	-0.54%		
	CAC_40__	4,815.37	▲	11.89	▲	0.25%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,591.50	▲	68.80	▲	1.25%		
	Shanghai_Comp	4,478.36	▼	-306.99	▼	-6.42%		
	Taiwan_Weight	9,218.37	▲	28.54	▲	0.31%		
	Nikkei_225___	20,174.24	▲	183.42	▲	0.92%		
	Hang_Seng.__	26,760.53	▲	65.87	▲	0.25%		
	Strait_Times.__	3,300.96	▲	0.54	▲	0.02%		
	NZX_50_Index_	5,781.76	▲	32.06	▲	0.56%		

http://finance.yahoo.com/news/us-stock-rally-peters-market-210802944.html

*US stock rally peters out, but market still ends week higher

US stock rally fades, but market still ends week higher; Nasdaq pulls back from record*

Associated Press By Alex Veiga, AP Business Writer

A rally that pushed a key index to a record high petered out on Friday.

Despite the losses, the market still ended with its best week in nearly two months after getting a boost from the Federal Reserve on Wednesday. Policymakers signaled that they were in no hurry to raise interest rates from historically low levels.

"Many sectors and stocks have had a good few days, so some of it is (down to) people taking off some of their profits," said JJ Kinahan, TD Ameritrade's chief strategist about Friday's trading.

The Standard & Poor's 500 index lost 11.48 points, or 0.5 percent, to 2,109.76. For the week the index was up 0.8 percent, its best gain since the week ending April 24.

The Dow Jones industrial average fell 99.89 points, or 0.6 percent, to 18,015.95.

The Nasdaq composite slid 15.95 points, or 0.3 percent, closing at 5,117. That's just below its record high of 5,132.95 set on Thursday.

An impasse in bailout negotiations between Greece and its creditors and worries about a stock bubble in China weighed on the market. Utilities and financials stocks were among the biggest decliners. The price of oil fell, ending the week nearly flat.

Investors spent much of the week focused on the Federal Reserve's next move on interest rates.

The market got some reassurance from the central bank on Wednesday, when the Fed suggested it wanted to see more improvement in the economy and signs of inflation before raising rates. The low rates have helped drive the bull market in stocks.

Clarity on Greece's ongoing debt drama has been more elusive.

Greece and its lenders remain deadlocked in their attempts to hammer out a pact for the debt-stricken nation. Greece needs more loans from its creditors before June 30, when its current bailout program expires and a 1.6 billion euro ($1.8 billion) debt payment is due.

On Friday, the European Central Bank agreed to provide temporary support for Greece's banks ahead of an emergency summit meeting next week. That meeting could determine whether Greece still has a future in the euro. Greece's main stock index slumped 11 percent for the week.

Traders also had their eye on China, where the main stock index plunged Friday, raising concerns that a bubble in the market may have burst. The Shanghai Composite Index tumbled 6.4 percent and is 13 percent lower for the week. The index has more than doubled in the past year.

A series of disappointing sales forecasts also hurt stocks.

Hershey fell 3.5 percent after the chocolate and candy maker cut its revenue outlook for the year because of weak demand in China. The company also said it plans to cut about 300 jobs by the end of the year. The stock lost $3.22 to $89.04.

CarMax fell 3.7 percent after the used car dealership chain reported fiscal first-quarter sales that fell short of forecasts. The stock shed $2.69 to $69.27.

Investors welcomed news that activist investor firm Jana partners has taken a 7.2 percent stake in ConAgra Foods.

Jana said ConAgra's results have been disappointing since it bought Ralcorp, the owner of Post cereals, in January 2013, and asked the packaged food company to extend the deadline for nominating board candidates.

ConAgra, the maker of Slim Jim meat snacks and Swiss Miss hot chocolate drinks, jumped $4.25, or 10.9 percent, to $43.37.

The dollar fell to 122.61 yen from 123.04 yen on Thursday. The euro fell against the dollar to $1.1357 from $1.1371.

In energy trading, benchmark U.S. crude fell 84 cents to close at $59.61 a barrel in New York. Oil finished last week at $59.96. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.24 to close at $63.02 in London.

In other energy futures trading, wholesale gasoline fell 5.1 cents to close at $2.059 a gallon. Heating oil fell 4.8 cents to close at $1.867 a gallon. Natural gas rose 3.9 cents to close at $2.816 per 1,000 cubic feet.

In metals trading, the price of gold was little changed at $1,201.90 an ounce. Silver dropped 4.4 cents to $16.11 an ounce. Copper declined 3.7 cents to $2.57 a pound.

U.S. government bond prices rose. The yield on the 10-year Treasury note, which falls when prices rise, dropped to 2.26 percent from 2.32 percent late Thursday.

7437


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	103.83	points or ▲	0.58%	on	Monday, 22 June 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,119.78	▲	103.83	▲	0.58%		
	Nasdaq____	5,153.97	▲	36.97	▲	0.72%		
	S&P_500___	2,122.85	▲	12.86	▲	0.61%		
	30_Yr_Bond____	3.15	▲	0.10	▲	3.17%		

NYSE Volume	 3,031,508,500 	 	 	 	 	  		 
Nasdaq Volume	 1,622,331,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,825.67	▲	115.22	▲	1.72%		
	DAX_____	11,460.50	▲	420.40	▲	3.81%		
	CAC_40__	4,998.61	▲	183.24	▲	3.81%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,603.10	▲	11.60	▲	0.21%		
	Shanghai_Comp	4,478.36	▼	-306.99	▼	-6.42%		
	Taiwan_Weight	9,341.77	▲	123.40	▲	1.34%		
	Nikkei_225___	20,428.19	▲	253.95	▲	1.26%		
	Hang_Seng.__	27,080.85	▲	320.32	▲	1.20%		
	Strait_Times.__	3,315.13	▲	14.17	▲	0.43%		
	NZX_50_Index_	5,772.05	▼	-9.71	▼	-0.17%		

http://finance.yahoo.com/news/us-stocks-climb-greek-optimism-153203258.html

*US stocks climb on Greek optimism, more deal news

US stocks rise amid optimism on Greece; Cigna jumps after rejecting Anthem's 'inadequate' bid*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- U.S. stocks advanced Monday as investors grew more optimistic that there would be a breakthrough in talks between Greece and its lenders.

Stocks also got a boost from deal news in the health care and energy sectors.

The Dow Jones industrial average added 103.83 points, or 0.6 percent, to 18,119.78. The Standard & Poor's 500 index rose 12.86 points, or 0.6 percent, to 2,122.85 and the Nasdaq composite climbed 36.97 points, or 0.7 percent, to 5,153.97.

European nations were cautiously optimistic on Monday that a deal on Greece's bailout was within reach this week, easing fears that the country would default on its debt and leave the euro region. The country needs more loans from European lenders and the International Monetary Fund to enable it to make a June 30 debt payment.

Greece and its creditors have been negotiating for months over what economic reforms the Mediterranean nation should implement in return for the loans. U.S. stocks slumped earlier this month, in part on investors' concerns that a Greek default could potentially cause turmoil in global financial markets.

"An eleventh hour compromise was always the likely scenario and it looks like that is what we are getting," said Russ Koesterich, global chief investment strategist at BlackRock.

The Greek stock market surged 9 percent and the yield on the 10-year Greek government bond dropped 1.48 percentage points to 10.90 percent as traders bought the bonds.

The main stock indexes in Europe closed broadly higher. Germany's DAX and France's CAC 40 each rose 3.8 percent and the U.K.'s FTSE 100 rose 1.7 percent

In the U.S., health insurers Cigna and Anthem were sharply higher after Anthem made a $47 billion bid to buy its competitor. Anthem, which runs the largest Blue Cross Blue Shield health insurance network, was up $5.98, or 3.6 percent, to $171.04. Cigna was up $7.34, or 4.7 percent, to $162.60.

Cigna described the bid as "inadequate" and not in the best interests of its shareholders.

Other health insurers rose on speculation of more mergers in the industry. Aetna rose $3.98, or 3.2 percent, to $128.05.

In the energy markets, the price of oil finished little changed from Friday. Benchmark U.S. crude rose 7 cents to close at $59.68 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 32 cents to close at $63.34 in London.

In other futures trading on the NYMEX, wholesale gasoline fell 2.9 cents to close at $2.030 a gallon. Heating oil rose 0.2 cents to close at $1.869 a gallon. Natural gas fell 8.3 cents to close at $2.733 per 1,000 cubic feet.

The energy sector also had some merger news. Williams Cos. rejected a buyout offer from Energy Transfer Equity for $48 billion, but said that it may still put itself up for sale.

Williams shares rose $12.52, or 26 percent, to $60.86.

U.S. government bond prices fell. The yield on the benchmark 10-year note rose to 2.37 percent from 2.26 percent on Friday. The euro was little changed against the dollar at $1.1361, while the dollar rose to 123.37 yen.

Precious and industrial metals futures mostly fell. Gold lost $17.80 to $1,184.10 an ounce, silver rose three cents to $16.14 an ounce and copper edged down less than a penny to $2.57 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	24.29	points or ▲	0.13%	on	Tuesday, 23 June 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,144.07	▲	24.29	▲	0.13%		
	Nasdaq____	5,160.09	▲	6.12	▲	0.12%		
	S&P_500___	2,124.20	▲	1.35	▲	0.06%		
	30_Yr_Bond____	3.20	▲	0.05	▲	1.49%		

NYSE Volume	 3,092,650,000 	 	 	 	 	  		 
Nasdaq Volume	 1,615,917,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,834.87	▲	9.20	▲	0.13%		
	DAX_____	11,542.54	▲	82.04	▲	0.72%		
	CAC_40__	5,057.68	▲	59.07	▲	1.18%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,671.40	▲	68.30	▲	1.22%		
	Shanghai_Comp	4,576.49	▲	98.13	▲	2.19%		
	Taiwan_Weight	9,391.14	▲	49.37	▲	0.53%		
	Nikkei_225___	20,809.42	▲	381.23	▲	1.87%		
	Hang_Seng.__	27,333.46	▲	252.61	▲	0.93%		
	Strait_Times.__	3,339.78	▲	24.65	▲	0.74%		
	NZX_50_Index_	5,772.13	▲	0.08	▲	0.00%		

http://finance.yahoo.com/news/stocks-slight-gains-amid-optimism-201719198.html
*
Stocks make slight gains amid optimism on Greek debt deal

Stocks edge higher as investors remain optimistic on Greek deal; Netflix gains on stock split*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks edged higher Tuesday as investors waited for a deal between Greece and its creditors. Greece faces defaulting on its debt without new loans, but appeared to be moving closer to an agreement to secure new funding.

The Dow Jones industrial average rose 24.29 points, or 0.1 percent, to 18,144.07. The Standard & Poor's 500 index added 1.35 points, or 0.1 percent, to 2,124.20 and the Nasdaq composite rose 6.12 points, or 0.1 percent, to 5,160.09.

Prepaid debit card company Green Dot was among the biggest gainers. Its stock soared 40 percent after the company announced it had renewed its partnership with Wal-Mart for another five years. Netflix climbed in after-hours trading following the company's announcement that its board had approved a plan to split its stock.

Stocks added to gains from Monday, as reports from Europe suggested that Greece's proposals for budget savings appeared to have won initial approval from the nation's creditors. European finance ministers are scheduled to meet on Wednesday.

Greek Prime Minister Alexis Tsipras still has to sell the proposals to his own political party. His Syriza party was voted into office on a pledge to repeal the harsh budget cuts and tax increases that previous governments had imposed since 2010 in return for loans.

Investors have been following the discussions closely, wary that a Greek default and the nation's potential exit from the euro currency could cause chaos in financial markets.

"We always knew there was going to be a lot of drama with Greece," said Kristina Hooper, U.S. investment strategist at Allianz Global Investors. "Having said that, if things do take a turn for the worse, the EU is far better equipped to handle this crisis compared to a few years ago."

In the U.S., investors also remain focused on when the Federal Reserve might increase its key interest rate for the first time in nearly a decade.

Fed Governor Jerome Powell said at an event hosted by the Wall Street Journal that he expects the U.S. central bank to begin raising its benchmark interest rate in September, with a second rate rise coming in December.

U.S. government bond prices fell again Tuesday, pushing the yield on the 10-year Treasury note up to 2.41 percent.

Treasuries have been falling sharply in recent weeks as investors anticipate that the Federal Reserve will raise interest rates for the first time in almost a decade later this year. At the beginning of June, the 10-year note was trading at 2.18 percent.

Netflix stock rose $14, or 2.1 percent, to $695.04 in trading after the close of the market. The internet video company announced that its board had approved a stock split, making the company's shares more affordable. Netflix stockholders will get six additional shares for every share that they own.

In the energy markets, the price of oil rose Tuesday on expectations that gasoline demand is rising, which would in turn boost demand for crude.

Benchmark U.S. crude for August delivery rose 63 cents to close at $61.01 a barrel in New York. The contract for U.S. crude for July delivery expired Monday at $59.68. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $1.11 to close at $64.45 in London.

In other futures trading on the NYMEX, wholesale gasoline rose 4.7 cents to close at $2.077 a gallon. Heating oil rose 4.2 cents to close at $1.911 a gallon. Natural gas fell 0.7 cents to close at $2.726 per 1,000 cubic feet.

In metals trading, gold fell $7.50 to $1,176.60 an ounce. Silver slipped 41 cents to $15.74 an ounce and copper dropped 4.6 cents to $2.61 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-75.71	points or ▼	-0.42%	on	Thursday, 25 June 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,890.36	▼	-75.71	▼	-0.42%		
	Nasdaq____	5,112.19	▼	-10.22	▼	-0.20%		
	S&P_500___	2,102.31	▼	-6.27	▼	-0.30%		
	30_Yr_Bond____	3.16	▲	0.01	▲	0.32%		

NYSE Volume	 3,263,902,750 	 	 	 	 	  		 
Nasdaq Volume	 1,616,781,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,807.82	▼	-36.98	▼	-0.54%		
	DAX_____	11,473.13	▲	1.87	▲	0.02%		
	CAC_40__	5,041.71	▼	-3.64	▼	-0.07%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,619.90	▼	-52.80	▼	-0.93%		
	Shanghai_Comp	4,527.78	▼	-162.37	▼	-3.46%		
	Taiwan_Weight	9,476.34	▲	79.03	▲	0.84%		
	Nikkei_225___	20,771.40	▼	-96.63	▼	-0.46%		
	Hang_Seng.__	27,145.75	▼	-259.22	▼	-0.95%		
	Strait_Times.__	3,349.87	▼	-1.46	▼	-0.04%		
	NZX_50_Index_	5,733.29	▼	-42.20	▼	-0.73%		

http://finance.yahoo.com/news/stocks-slip-investors-balance-greece-192458782.html

*
Stocks slip as investors balance Greece, consumer spending

US stocks slip as investors balance Greece, consumer spending data; Health care sector gains*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks edged lower Thursday as talks over keeping Greece solvent stalled and got extended into the weekend.

Health care stocks rose sharply after the Supreme Court upheld the Affordable Care Act's insurance subsidies.

The Dow Jones industrial average lost 75.71 points, or 0.4 percent, to 17,890.36. The Standard & Poor's 500 index fell 6.27 points, or 0.3 percent, to 2,102.31 and the Nasdaq composite fell 10.22 points, or 0.2 percent, to 5,112.19.

Stocks had been flat to slightly higher the first half of the day. But that momentum was soon lost and Greece worries turned the market lower in the early afternoon.

The bitter standoff between Greece and its international creditors was extended into the weekend, days before Athens has to meet a crucial debt deadline which could decide whether it defaults on its debt and has to drop out of the euro.

A key meeting of eurozone finance ministers broke up Thursday without agreement on Greece's rescue package, intensifying doubts about whether Athens can make a 1.6 billion euro ($1.8 billion) debt payment to the International Monetary Fund that is due Tuesday.

An agreement on a drastic Greek tax and austerity reform package is necessary for creditors to unfreeze 7.2 billion euros (8.1 billion dollars) in bailout money.

Greece has a small economy and its debt problems have been long known by investors. However, the possibilities of destabilizing the euro and the implications of a country defaulting on its debt have weighed on investors for months now.

"It's fair to say markets have been somewhat complacent about the risk related to Greece, and it's all coming to a head now," said Ben Mandel, a global strategist at JPMorgan Multi-Asset Solutions. "It could cause some volatility next week."

Health care stocks, especially hospital operators, rose sharply after the Supreme Court upheld the nationwide tax subsidies under President Barack Obama's health care overhaul. The ruling will preserve health insurance for millions of Americans who are not covered under state-owned exchanges. Humana rose 7 percent, HCA Holdings rose 9 percent, Tenet Healthcare rose 12 percent and Cigna rose 2 percent.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.40 percent from 2.37 percent the day before.

In the energy markets, the price of oil fell on continuing concerns that high supplies of gasoline and diesel will keep a lid on crude demand. Benchmark U.S. crude fell 57 cents to close at $59.70 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 29 cents to close at $63.20 in London.

In other futures trading on the NYMEX, wholesale gasoline fell 1.9 cents to close at $2.037 a gallon. Heating oil fell 1.4 cents to close at $1.862 a gallon. Natural gas rose 9.1 cents to close at $2.850 per 1,000 cubic feet.

Gold fell $1.10 to $1,171.80 an ounce, silver fell four cents to $15.81 an ounce and copper was flat at $2.62 a pound.

The euro edged down to $1.1205 and the dollar weakened to 123.62 Japanese yen


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	56.32	points or ▲	0.31%	on	Friday, 26 June 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,946.68	▲	56.32	▲	0.31%		
	Nasdaq____	5,080.51	▼	-31.68	▼	-0.62%		
	S&P_500___	2,101.49	▼	-0.82	▼	-0.04%		
	30_Yr_Bond____	3.25	▲	0.09	▲	2.98%		

NYSE Volume	 5,027,407,000 	 	 	 	 	  		 
Nasdaq Volume	 3,840,523,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,753.70	▼	-54.12	▼	-0.79%		
	DAX_____	11,492.43	▲	19.30	▲	0.17%		
	CAC_40__	5,059.17	▲	17.46	▲	0.35%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,536.10	▼	-83.80	▼	-1.49%		
	Shanghai_Comp	4,192.87	▼	-334.91	▼	-7.40%		
	Taiwan_Weight	9,462.57	▼	-13.77	▼	-0.15%		
	Nikkei_225___	20,706.15	▼	-65.25	▼	-0.31%		
	Hang_Seng.__	26,663.87	▼	-481.88	▼	-1.78%		
	Strait_Times.__	3,320.90	▼	-28.97	▼	-0.86%		
	NZX_50_Index_	5,755.44	▲	22.15	▲	0.39%		

http://finance.yahoo.com/news/stocks-end-mostly-lower-greece-200518449.html

*Stocks end mostly lower as Greece debt deadline approaches

US stocks end mostly lower as deadline for Greece debt repayment nears; Chinese market plunges*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks had a mixed day Friday, as investors waited for negotiators to finish their work on a solution to Greece's debt problems. Chinese stocks plunged 7 percent as fears spread that a yearlong bull rally there has become overheated. China's benchmark index is still up more than double over the past year.

The Dow Jones industrial average added 56.32 points, or 0.3 percent, to 17,946.68. It was largely lifted by Nike, which rose more than 4 percent after posting strong quarterly results.

The Standard & Poor's 500 index fell 0.82 of a point, or 0.04 percent, to 2,101.49 and the Nasdaq composite lost 31.68 points, or 0.6 percent, to 5,080.51. All three indexes ended the week slightly lower.

As they have done all week, global investors are watching closely as Greek debt talks go down to the wire. On Thursday, a key meeting of eurozone finance ministers broke up without an agreement. The 19 ministers are due to meet again Saturday.

Greece needs a deal in order to make a debt payment of 1.6 billion euros ($1.8 billion) to the International Monetary Fund on Tuesday. Failing to do so would put the country on a path toward default and a possible exit from the euro.

"While these deadlines can quite often be taken with a pinch of salt, Greece has literally run out of time on this occasion," said Craig Erlam, senior market analyst at OANDA.

Investors now turn to next week, when the U.S. government will release the June jobs report. Economists forecast that U.S. employers created 237,500 jobs last month, according to FactSet.

There's been a lot of focus on when the Federal Reserve will raise its key interest rate. Recent economic data seems to show that the U.S. economic recovery is holding steady, and now many investors are expecting the Fed to raise rates in September.

"There's a premium on economic data right now. Outside of Greece, everyone will be focused on how the U.S. economy is holding up," said Quincy Krosby, a market strategist at Prudential Financial.

While Greece has been the main driver in financial markets recent weeks, worries over China have risen the list of concerns. On Friday, Chinese stocks plunged more than 7 percent. The Shanghai composite closed at 4,391.91. It reached 5,300 just two weeks ago.

"Although I continue to be optimistic about the longer-term trend of (China's) markets, it's clear that we are in a sharp correction phase," said Bernard Aw of IG Markets in Singapore.

In energy trading, the price of oil was nearly flat Friday. It finished the week little changed, and remained in a narrow range for the ninth straight week. Benchmark U.S. crude fell 7 cents to close at $59.63 a barrel in New York.

Oil finished last week at $59.61 and it has traded roughly between $57 and $61 since late April. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 6 cents to close at $63.26 a barrel in London.

In other futures trading on the New York Mercantile Exchange, wholesale gasoline rose 1.2 cents to close at $2.049 a gallon. Heating oil rose 0.1 cents to close at $1.863 a gallon and natural gas fell 7.7 cents to close at $2.773 per 1,000 cubic feet.

Gold rose $1.40 to $1,173.20 an ounce. Silver fell 7 cents to $15.73 an ounce and copper rose 2 cents to $2.64 a pound.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.48 percent from 2.39 percent late Thursday.

In currency trading, the euro fell to $1.1161 while the dollar rose to 123.85 Japanese yen

7883


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-350.33	points or ▼	-1.95%	on	Monday, 29 June 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,596.35	▼	-350.33	▼	-1.95%		
	Nasdaq____	4,958.47	▼	-122.04	▼	-2.40%		
	S&P_500___	2,057.64	▼	-43.85	▼	-2.09%		
	30_Yr_Bond____	3.10	▼	-0.15	▼	-4.65%		

NYSE Volume	 3,679,935,000 	 	 	 	 	  		 
Nasdaq Volume	 2,027,997,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,620.48	▼	-133.22	▼	-1.97%		
	DAX_____	11,083.20	▼	-409.23	▼	-3.56%		
	CAC_40__	4,869.82	▼	-189.35	▼	-3.74%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,416.60	▼	-119.50	▼	-2.16%		
	Shanghai_Comp	4,053.03	▼	-139.84	▼	-3.34%		
	Taiwan_Weight	9,236.10	▼	-226.47	▼	-2.39%		
	Nikkei_225___	20,109.95	▼	-596.20	▼	-2.88%		
	Hang_Seng.__	25,966.98	▼	-696.89	▼	-2.61%		
	Strait_Times.__	3,280.18	▼	-40.72	▼	-1.23%		
	NZX_50_Index_	5,705.81	▼	-49.63	▼	-0.86%		

http://finance.yahoo.com/news/us-stocks-notch-worst-day-201033602.html


*US stocks notch worst day of year as Greek crisis escalates

Stocks swoon as investors fret over Greece's debt crisis, sending indexes to worst day of year*
Associated Press By Matthew Craft and Steve Rothwell, AP Business Writers

NEW YORK (AP) -- Fears that Greece's troubles could spread through the global financial system shook markets on Monday, driving U.S. stocks to their worst day of the year.

Investors fled from stocks in Europe and the U.S. and retreated to the safety of government bonds. Measures of volatility spiked. In many ways, it looked similar to previous episodes in Europe's long-running debt crisis, except that this time, investors said, they weren't quite as worried.

A series of events over the weekend left Greece perilously close to defaulting on its debts. Greece's Prime Minister, Alexis Tsipras, said his government would hold a referendum on budget proposals made by the country's lenders. European officials refused to extend the country's bailout program, which expires on Tuesday, the same day it's supposed to make a debt payment to the International Monetary Fund.

Jeff Carbone, a senior partner at Cornerstone Financial Partners, said the real worry isn't so much Greece, a country with an economy roughly the size of Missouri's. "It's the contagion risk. If Greece goes, who's next? This isn't about Greece; it's what happens next."

The Standard & Poor's 500 index dropped 43.85 points, or 2.1 percent, to 2,057.64. The Dow Jones industrial average lost 350.33 points, or 2 percent, to 17,596.35, and the Nasdaq composite fell 122.04 points, or 2.4 percent, to 4,958.47.

The losses wiped out all the gains for the Dow and S&P 500 indexes this year.

In Europe, Germany's DAX lost 3.6 percent while France's CAC-40 lost 3.7 percent. The FTSE 100 index of leading British shares fell 2 percent. Greece's stock market was closed. Investors bought German and British government bonds, which are seen as safe havens, and sold bonds issued by Greece's government, sending those yields sharply higher.

"We are really looking at a situation where the market doesn't know what the fallout is going to be," said David Lafferty, chief market strategist at Natixis Global Asset Management. "But the U.S. market feels that it is relatively contained at this point."

Over the weekend, the European Central Bank refused to extend its emergency support for Greece's banking system. That prompted the Greek government to close banks and announce limits on withdrawals. Pictures of long lines at bank machines in Athens appeared on television screens around the world.

"Whenever you see any kind of bank line, there is in the back of investors' mind the thought: 'What if it spreads? What if people panic?'" said Karyn Cavanaugh, senior market strategist at Voya Investment Management. "What's going on in Europe, of course it's going to roil markets in the short term," But for U.S. investors, she said, "the long-term impact is not that big of a deal."

The last time Greece's troubles shook U.S. markets, there were plenty of other problems. In 2012, Spain had entered a recession, and the worry was that it was too big of a country to rescue. Sputtering U.S. job growth added to the anxiety. That spring, the S&P 500 index lost 9.9 percent within two months. Investors sought safety in U.S. Treasury bonds, driving long-term interest to historic lows.

Back then, the fear was that a financial crisis would spread from Greece to the rest of Europe "because these economies were very fragile," Cavanaugh said.

The rating agency Standard & Poor's said Monday that it interprets the Greek government's decision to hold a referendum as a sign that it will put "domestic politics over financial and economic stability, commercial debt payments and eurozone membership." The agency says it now sees a 50-percent chance of Greece dropping the currency.

If Greece defaults and switches to a new currency, it's sure to shake global financial markets. But the world is unlikely to see anything like the full-blown crisis of 2008. A few years ago, banks across Europe were loaded down with loans to the Greek government, corporations and banks. Things have changed since then.

"Today, the European banks have shed much of their Greek debt and they have significantly increased their capital," says Mark Zandi, chief economist at Moody's Analytics. "A Greek default and exit from the euro zone would be devastating to Greece's economy, but no one else's. ... The Greek standoff will be disconcerting to financial markets, but only temporarily."

The European Central Bank is also ready to swing into action to prevent a panic. The ECB has already committed to buying 60 billion euros a month in corporate and government bonds to push down interest rates and help the European economy. It could buy even more, and flood financial markets with cash, to calm jittery European investors.

Bond price rose. The yield on the 10-year Treasury note fell to 2.33 percent from 2.47 percent late Friday, a big move. The euro rose to $1.1242 from $1.1160.

Gold edged up $5.80 to $1,179 an ounce, and silver slipped 7 cents to $15.66 an ounce. Copper edged up half a cent to $2.64 a pound.

Crude oil fell $1.30 to close at $58.33 a barrel in New York. Brent crude fell $1.25 to close at $62.01 a barrel in London.

In other trading in New York:

”” Wholesale gasoline fell 1.9 cents to close at $2.030 a gallon.

”” Heating oil fell 2.6 cents to close at $1.837 a gallon.

”” Natural gas rose 3.2 cents to close at $2.805 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	23.16	points or ▲	0.13%	on	Tuesday, 30 June 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,619.51	▲	23.16	▲	0.13%		
	Nasdaq____	4,986.87	▲	28.40	▲	0.57%		
	S&P_500___	2,063.11	▲	5.47	▲	0.27%		
	30_Yr_Bond____	3.10	▲	0.01	▲	0.16%		

NYSE Volume	 4,078,641,250 	 	 	 	 	  		 
Nasdaq Volume	 2,036,961,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,520.98	▼	-99.50	▼	-1.50%		
	DAX_____	10,944.97	▼	-138.23	▼	-1.25%		
	CAC_40__	4,790.20	▼	-79.62	▼	-1.63%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,451.20	▲	34.60	▲	0.64%		
	Shanghai_Comp	4,277.22	▲	224.19	▲	5.53%		
	Taiwan_Weight	9,323.02	▲	86.92	▲	0.94%		
	Nikkei_225___	20,235.73	▲	125.78	▲	0.63%		
	Hang_Seng.__	26,250.03	▲	283.05	▲	1.09%		
	Strait_Times.__	3,317.33	▲	37.15	▲	1.13%		
	NZX_50_Index_	5,726.96	▲	21.15	▲	0.37%		

http://finance.yahoo.com/news/us-stocks-edge-higher-investors-210444800.html

*US stocks edge higher as investors follow Greek debt talks

US stock indexes regain some ground as investors follow Greek debt saga; Bond insurers slump*
Associated Press By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The U.S. stock market stabilized on Tuesday as investors followed the latest developments in the Greek debt saga.

Stocks edged higher a day after the market had its worst day of the year. That slump was prompted by a breakdown in talks between Greece and its creditors. Greece's European bailout program ends Tuesday at midnight, and the country hasn't yet managed to agree on an extension or a new deal with creditors.

On Tuesday, the office of the Greek Prime Minister said that the country remains at the negotiating table, and that the government has proposed a two-year deal with Europe's bailout fund. The eurozone's top official, Jeroen Dijsselbloem, said that said there was no point in continuing the current program since the Greek government had rejected all of the creditors' proposals. A request for a new European aid program would be considered later.

The Greek government has also called a referendum for Sunday, asking Greeks to vote on whether the nation should accept the deal offered by its creditors. Investors are concerned that if Greece defaults on its debts the nation will eventually drop out of the euro currency, a move that could potentially set off turmoil in financial markets.

Even though the standoff in Greece is far removed from the U.S., the global nature of financial markets will ensure that any ripple effects will be felt across the Atlantic, said Mike Ryan, chief investment strategist at UBS Wealth Management Americas.

"There are obvious concerns that failure to reach some kind of an agreement could put Greece on a path to a eurozone exit," Ryan said. "If there is going to be volatility in global markets, it will be reflected in U.S. markets as well."

The Standard & Poor's 500 index rose 5.47 points, or 0.3 percent, to 2,063.11 The index closed out the quarter with a loss of 0.2 percent, its first quarterly decline since dropping 1 percent in the last three months of 2012.

The Dow Jones industrial average climbed 23.16 points, or 0.1 percent, to 17,619.51. The Nasdaq composite rose 28.40 points, or 0.6 percent, to 4,986.87.

Despite Monday's slump, many investors remain confident U.S. financial markets will hold their own.

"Whatever happens here, even if it's the worst case scenario and Greece drops out (of the euro), the pullback probably wouldn't be gigantic," said Scott Wren, a senior global equity strategist at the Wells Fargo Investment Institute.

In European trading, the Stoxx 50 index of leading European shares fell 1.3 percent. Germany's DAX dropped 1.2 percent, while the CAC-40 in France fell 1.6 percent.

In the U.S., Willis Group Holdings rose $1.50, or 3.3 percent, to $46.90 after the insurance broker said it will combine with Towers Watson in a deal valued at about $18 billion.

Bond insurers, including MBIA and Ambac, fell sharply for a second day as investors followed the debt crisis in Puerto Rico. Credit-rating firm Standard & Poor's said that a default, or a restructuring, of the island's debt within the next six months appeared inevitable.

Puerto Rico's governor said Monday night he will form a financial team to negotiate with bondholders on delaying debt payments and then restructuring $72 billion in public debt that he says the island can't repay.

"If Greece wasn't happening, this would be a major story right now," said JJ Kinanhan, chief strategist at TD Ameritrade.

MBIA dropped 36 cents, or 5.7 percent, to $6.01. The stock has fallen 36 percent in the last week. Ambac Financial fell $3.08, or 15.6 percent, to $16.64.

Andrew Gadlin, an analyst who follows MBIA for the broker Odeon, estimates that the insurer has $5.8 billion of exposure to Puerto Rico's debt.

Mark Palmer, an analyst at BTIG, wrote in a note Monday that bond insurers were "unbuyable" until there was greater clarity on the losses the firms could face.

Investors were also looking forward to the U.S. government's monthly jobs report, which will be published on Thursday. A strong report is likely to increase investors' expectations that the Federal Reserve will raise its benchmark interest rate for the first time in close to a decade later this year.

U.S. financial markets will be closed Friday in observance of Independence Day.

In currency trading, the euro fell 0.7 percent at $1.1137 while the dollar fell 0.1 percent to 122.50 yen.

Government bond prices fell slightly after big gains on Monday. The yield on the 10-year Treasury note edged up to 2.35 percent from 2.33 percent a day earlier.

The price of oil rose for the first time in a week as negotiations with Iran over its nuclear program were extended, potentially delaying a return of Iranian crude to the market.

Benchmark U.S. crude rose $1.14 to close at $59.47 a barrel in New York. U.S. crude finished the month down 1.4 percent. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $1.58 to close at $63.59 a barrel in London.

Metals futures ended slightly lower. Gold fell $7.20 to $1,171.80 an ounce, silver lost 11 cents to settle at $15.55 an ounce and copper fell two cents to $2.62 a pound.

In other energy futures trading on the NYMEX:

”” Wholesale gasoline rose 6 cents to close at $2.090 a gallon.

”” Heating oil rose 5 cents to close at $1.887 a gallon.

”” Natural gas rose 2.7 cents to close at $2.832 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	138.4	points or ▲	0.79%	on	Wednesday, 1 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,757.91	▲	138.40	▲	0.79%		
	Nasdaq____	5,013.12	▲	26.26	▲	0.53%		
	S&P_500___	2,077.42	▲	14.31	▲	0.69%		
	30_Yr_Bond____	3.20	▲	0.09	▲	2.93%		

NYSE Volume	 3,738,927,500 	 	 	 	 	  		 
Nasdaq Volume	 2,036,961,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,608.59	▲	87.61	▲	1.34%		
	DAX_____	11,180.50	▲	235.53	▲	2.15%		
	CAC_40__	4,883.19	▲	92.99	▲	1.94%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,506.00	▲	54.80	▲	1.01%		
	Shanghai_Comp	4,053.70	▼	-223.52	▼	-5.23%		
	Taiwan_Weight	9,375.23	▲	52.21	▲	0.56%		
	Nikkei_225___	20,329.32	▲	93.59	▲	0.46%		
	Hang_Seng.__	26,250.03	▲	283.05	▲	1.09%		
	Strait_Times.__	3,331.14	▲	13.81	▲	0.42%		
	NZX_50_Index_	5,794.35	▲	67.39	▲	1.18%		

http://finance.yahoo.com/news/us-stocks-gain-greece-appears-153456381.html

*US stocks gain as Greece appears to be willing to negotiate

US stocks gain as Greece appears to be willing to negotiate on debt; Chubb soars on tie-up*
Associated Press By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- Hopes that a deal could be reached between Greece and its creditors pushed stocks higher on Wednesday.

The U.S. market opened higher, following strong gains for European stocks, after Greek Prime Minister Alexis Tsipras wrote a letter to the nation's creditors and appeared to make concessions. Greece failed to repay a loan to the International Monetary Fund that was due on Tuesday after talks between the nations and its creditors broke down late last week.

Investors are worried that Greece could leave the euro region if no agreement is reached.

"The developments in Greece ... seem to be driving sentiment more than anything," said Phil Orlando, chief equity strategist at Federated Investors. "What we're seeing now is a little bit of a bounce back based on a sentiment that we're getting close to a resolution."

The Standard & Poor's 500 index rose 14.31 points, or 0.7 percent, to 2,077.42. The Dow Jones industrial average climbed 138.40 points, or 0.8 percent, to 17,757.91. The Nasdaq composite gained 26.26 points, or 0.5 percent, to 5,013.12.

Despite rallying on Wednesday stocks are still lower for the week after the market logged its worst day of the year on Monday. Fears that Greece could leave the euro, prompting chaos in financial markets, set off a global stock market rout.

"Monday's reaction to Greece was largely overdone," said Bob Pavlik, chief market strategist at Boston Private Wealth. "I don't think the ramifications of Greece defaulting would be that dire for the global economy."

Despite the intense interest in Greece's situation, the country accounts for only a small fraction of Europe's economy.

In the U.S., investors got two encouraging reports on the economy.

Payroll processor ADP said businesses added 237,000 jobs last month, up from 203,000 in May and the most since December. A separate survey showed U.S. manufacturing growth improved in June. The Institute for Supply Management, a trade group of purchasing managers, said its manufacturing index rose to the highest level this year.

The government's monthly nonfarm payrolls report will be published on Thursday.

A strong jobs report would likely increase the conviction among many economists that the Federal Reserve will raise its benchmark interest rate later this year for the first time in more than a decade. The central bank has held its rate close to zero for more than six years to help the economy recover from the Great Recession.

In deal news, Chubb jumped $24.85, or 26 percent, to $119.99 after rival insurer Ace said it was buying the company in a cash-and-stock deal valued at about $28.3 billion. The combined company plans to use the Chubb name and will have its main offices in Zurich, Switzerland, where Ace is based. The news pushed up the prices of other insurance companies.

Corporate deal making has been on the rise this year as CEOs become more confident about the outlook for economy and interest rates remain close to historic lows. The low rates mean that corporations can borrow cheaply to finance acquisitions.

Airline stocks were among the day's losers after the U.S. government confirmed that it is investigating possible collusion between major airlines to limit available seats and keep airfares high. Thanks to a series of mergers starting in 2008, American Airlines, Delta Air Lines, Southwest Airlines and United now control more than 80 percent of the seats in the domestic travel market.

Delta's stock fell 81 cents, or 2 percent, to $40.27. American Airlines dropped $1.14, or 2.8 percent, to $38.80.

Energy stocks also sagged after the price of oil fell sharply following an Energy Department report that crude inventories rose for the first time in eight weeks.

Analysts had forecast supplies would drop by 1.3 million barrels, but instead they increased by 2.4 million barrels, according to the Energy Department's weekly petroleum status report.

Benchmark U.S. crude fell $2.51 to close at $56.96 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.58 to close at $62.01 a barrel in London.

In currency trading, the euro fell to $1.1056 while the dollar rose to 123.17 yen.

Bond prices fell, pushing the yield on the benchmark 10-year Treasury note up to 2.42 percent from 2.35 percent on Tuesday.

In metals trading, gold dropped $2.50 to $1,169.30 an ounce. Silver was little changed at $15.55 an ounce and copper rose 1.2 cents to $2.64 a pound.

In other futures trading on the NYMEX:

— Wholesale gasoline fell 4.2 cents to close at $2.007 a gallon.

— Heating oil fell 5.1 cents to close at $1.839 a gallon.

— Natural gas fell 4.9 cents to close at $2.783 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

*U.S. markets will be closed Friday in observance of the Independence Day holiday.*


 *The NYSE DOW closed  	LOWER ▼	-27.8	points or ▼	-0.16%	on	Thursday, 2 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,730.11	▼	-27.80	▼	-0.16%		
	Nasdaq____	5,009.21	▼	-3.91	▼	-0.08%		
	S&P_500___	2,076.78	▼	-0.64	▼	-0.03%		
	30_Yr_Bond____	3.19	▲	0.00	▼	-0.09%		

NYSE Volume	 2,998,945,250 	 	 	 	 	  		 
Nasdaq Volume	 1,492,508,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,630.47	▲	109.49	▲	1.68%		
	DAX_____	11,099.35	▲	154.38	▲	1.41%		
	CAC_40__	4,835.56	▲	45.36	▲	0.95%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,587.90	▲	81.90	▲	1.49%		
	Shanghai_Comp	3,912.77	▼	-140.93	▼	-3.48%		
	Taiwan_Weight	9,379.24	▲	4.01	▲	0.04%		
	Nikkei_225___	20,522.50	▲	193.18	▲	0.95%		
	Hang_Seng.__	26,282.32	▲	32.29	▲	0.12%		
	Strait_Times.__	3,327.84	▼	-3.30	▼	-0.10%		
	NZX_50_Index_	5,841.47	▲	47.12	▲	0.81%		

http://finance.yahoo.com/news/us-stocks-slip-mixed-us-204752145.html

*US stocks slip on mixed US jobs report, Greek fears

US stocks slip on mixed US jobs report, fear of fallout from Greece as referendum nears*
Associated Press By Bernard Condon, AP Business Writer

NEW YORK (AP) -- Stocks ended a tumultuous trading week with slight losses Thursday as investors sought safety ahead of an extended holiday weekend.

Investors bought at the opening of trading after a Labor Department report on job creation suggested the economy was improving, though not so fast as to raise the specter of inflation and higher interest rates. But the gains vanished after a downbeat report from the International Monetary Fund on Greece's finances as the country heads toward a vote on the country's financial bailout this weekend.

It was a quiet close to an eventful week. Stocks plunged around the world Monday over worries that a Greek default could spread losses throughout the global financial system. A continued drop in Chinese stocks added to the fears, as well as a statement from Puerto Rico's governor that the commonwealth would not be able to pay back its large public debt.

Stocks rose a bit over the next two days, but by Thursday's close the Standard and Poor's 500 index was still down 1.2 percent for the week, its biggest weekly loss in three months.

U.S. markets will be closed Friday in observance of the Independence Day holiday.

The S&P 500 slipped 0.64 points, less than 0.1 percent, to 2,076.78. The Dow Jones industrial average fell 27.80 points, or 0.2 percent, to 17,730.11. The Nasdaq composite fell 3.91 points, less than 0.1 percent, to 5,009.21.

"We've got Greece, we've got China and Puerto Rico," said Sean Lynch, co-head of global equity strategy for Wells Fargo Investment Institute. "Investors want to take some risk off the table."

The jobs report showed payrolls rose by 223,000 in June and the unemployment rate fell to a seven-year low of 5.3 percent. But the rate declined mostly because many people abandoned their job hunts and were no longer counted as unemployed.

The report also said average hourly earnings rose 2 percent, slightly lower than consensus.

Investors bought bonds in anticipation that inflation, and interest rates, will remain low. The price of the benchmark 10-year Treasury note rose, pushing down its yield to 2.38 percent from 2.45 percent just before the jobs report came out.

"There is no wage pressure and therefore no inflationary pressure. The Fed should just let the economy run," said Steven Ricchiuto, chief economist at Mizuho Securities. "Maybe instead of hiking rates in September, maybe it'll be in December, maybe March."

The report from the IMF said Greece needs 50 billion euros ($56 billion) in new financing from October through 2018, and more debt relief. The analysis was made before Greece closed its banks and defaulted on IMF loans earlier this week. The outlook is worse now.

Greece's government plans to put austerity measures to voters on Sunday after European creditors rejected its latest proposal for a new aid program.

Six of the 10 sectors of the S&P 500 fell on Thursday. Stocks of utilities, considered a conservative investment because of their big dividends, rose 1.4 percent.

Among stocks making big moves:

”” Health Net rose $6.51, or 10 percent, to $71.57 after Medicaid coverage provider Centene said it will pay about $6.3 billion to buy the company. The deal is more evidence of managed-care companies looking to bulk up in response to the federal overhaul of health care.

”” U.S.-listed shares of BP rose $2.02, or 5 percent, to $41.29 after the oil driller reached an $18.7 billion settlement with several states to resolve litigation over the 2010 Gulf of Mexico oil spill.

”” Tesla Motors rose $10.87, or 4 percent, to $280.02 after announcing second-quarter deliveries of its electric car surged 52 percent to set a company record exceeding 11,000 vehicles. The stock has gained 26 percent so far this year despite consistently losing money.

The price of oil erased early gains and closed down slightly after a closely watched count of working drilling rigs had its first increase since December. Benchmark U.S. crude fell 3 cents Thursday to close at $56.93 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 6 cents to close at $62.07 a barrel in London.

In other futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline rose 2.7 cents to close at $2.034 a gallon.

”” Heating oil rose 0.1 cent to close at $1.840 a gallon.

”” Natural gas rose 3.9 cents to close at $2.822 per 1,000 cubic feet.

Precious and industrial metals futures closed mostly lower. Gold lost $5.80 to settle at $1,163.50 an ounce, silver fell two cents to $15.54 an ounce and copper was little changed at $2.63 a pound.


----------



## bigdog

*U.S. markets were closed Friday in observance of the Independence Day holiday.*

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-27.8	points or ▼	-0.16%	on	Friday, 3 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,730.11	▼	-27.80	▼	-0.16%	U.S. markets were closed Friday	
	Nasdaq____	5,009.21	▼	-3.91	▼	-0.08%	U.S. markets were closed Friday	
	S&P_500___	2,076.78	▼	-0.64	▼	-0.03%	U.S. markets were closed Friday	
	30_Yr_Bond____	3.19	▲	0.00	▼	-0.09%		U.S. markets were closed Friday 

NYSE Volume	 2,998,945,250 	 	 	 	 	  		 
Nasdaq Volume	 1,492,508,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,585.78	▼	-44.69	▼	-0.67%		
	DAX_____	11,058.39	▼	-40.96	▼	-0.37%		
	CAC_40__	4,808.22	▼	-27.34	▼	-0.57%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,528.00	▼	-59.90	▼	-1.07%		
	Shanghai_Comp	3,686.92	▼	-225.85	▼	-5.77%		
	Taiwan_Weight	9,358.23	▼	-21.01	▼	-0.22%		
	Nikkei_225___	20,539.79	▲	17.29	▲	0.08%		
	Hang_Seng.__	26,064.11	▼	-218.21	▼	-0.83%		
	Strait_Times.__	3,342.73	▲	14.89	▲	0.45%		
	NZX_50_Index_	5,840.90	▼	-0.57	▼	-0.01%		

http://finance.yahoo.com/news/world-stocks-drift-lower-ahead-091140701.html
*
World stocks drift lower ahead of Greek vote; China plunges

World stocks drift lower ahead of Greek vote; Chinese stocks plunge as support measures fail*
Associated Press By The Associated Press


World stock markets mostly drifted lower Friday ahead of Greece's weekend referendum, while China's main stock benchmark plunged as government efforts failed to reassure panicky investors.

KEEPING SCORE: European stocks were mixed, with France's CAC 40 falling 0.6 percent to close at 4,808.22. Germany's DAX dropped 0.4 percent to 11,058.39. Britain's FTSE 100 declined 0.7 percent to 6,585.78. U.S. markets were closed in observance of Independence Day.

GREECE VOTES: Investors are awaiting the outcome of a weekend referendum in Greece on whether to accept more budget cuts in exchange for new bailout loans. The government says a "No" vote will put it in a better bargaining position for new terms, while European officials and the opposition say a rejection could lead to Greece's exit from the euro. Markets in Asia will get the first chance to react to the result of Sunday's vote.

CHINA SELL-OFF: A Chinese market rout deepened as investors dumped shares in spite of government measures this week aimed at restoring confidence, such as cutting fees and easing rules on borrowing money for trading. The China Securities Regulatory Commission, the market watchdog, said late Thursday that it's launching an investigation into suspected stock market manipulation, state media reported, an indication that the government is trying to halt the market slide.

ANALYST VIEWPOINT: "Policies take time to work their way through the system before sentiments can be more permanently altered," Bernard Aw of IG Markets in Singapore wrote in a commentary. "For now, the mood is verging on panic."

ASIA: The Shanghai Composite Index ended down 5.8 percent at 3,686.92. The index has plunged 29 percent since hitting a peak of 5,166.35 June 12. Hong Kong's Hang Seng fell 0.8 percent to close at 26,064.11, while Japan's Nikkei 225 edged up 0.1 percent to 20,539.79. South Korea's Kospi slipped 0.1 percent to 2,104.41 and Australia's S&P/ASX 200 retreated 1.1 percent to 5,538.30.

ENERGY: Benchmark U.S. crude fell $1.41 to $55.52 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.75 to $60.32 a barrel in London.

CURRENCIES: The dollar fell to 122.78 yen from 123.09 yen late Thursday. The euro rose to $1.1100 from $1.1083.


*THE FIVE CHARTS AS AT THURDAY JULY 2 BECAUSE U.S. MARKETS WERE CLOSED FRIDAY JULY 3*

8386


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-46.53	points or ▼	-0.26%	on	Monday, 6 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,683.58	▼	-46.53	▼	-0.26%		
	Nasdaq____	4,991.94	▼	-17.27	▼	-0.34%		
	S&P_500___	2,068.76	▼	-8.02	▼	-0.39%		
	30_Yr_Bond____	3.07	▼	-0.12	▼	-3.79%		

NYSE Volume	 3,490,257,250 	 	 	 	 	  		 
Nasdaq Volume	 1,747,954,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,535.68	▼	-94.79	▼	-1.43%		
	DAX_____	10,890.63	▼	-167.76	▼	-1.52%		
	CAC_40__	4,711.54	▼	-96.68	▼	-2.01%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,463.30	▼	-64.70	▼	-1.17%		
	Shanghai_Comp	3,775.91	▲	89.00	▲	2.41%		
	Taiwan_Weight	9,255.96	▼	-102.27	▼	-1.09%		
	Nikkei_225___	20,112.12	▼	-427.67	▼	-2.08%		
	Hang_Seng.__	25,236.28	▼	-827.83	▼	-3.18%		
	Strait_Times.__	3,332.94	▼	-9.79	▼	-0.29%		
	NZX_50_Index_	5,776.62	▼	-64.28	▼	-1.10%		

http://finance.yahoo.com/news/us-stocks-slip-amid-global-204502328.html

*US stocks slip amid global sell-off after Greek 'no' vote

US stocks slip after Greeks reject terms of bailout deal; European markets, oil drop sharply*

Associated Press By Bernard Condon, AP Business Writer

NEW YORK (AP) -- Stocks in the U.S. fell broadly following drops in overseas markets as Greeks voted to reject creditor conditions for more loans, but the losses weren't as steep as many had feared.

With time running out for Greece to strike a new deal and its banks desperately short of cash, a wave of selling that started in Asia early Monday spread to Europe, then the U.S. By the end of the day, nine of the 10 industry groups in the Standard and Poor's 500 index were down. But the index itself had fallen a modest 0.4 percent.

Still, many investors were clearly nervous, putting money into assets considered safe bets in turbulent times such as U.S. government bonds. A rout in the stocks of oil drillers and other energy companies fed the selling as the price oil plunged nearly 8 percent.

In a Sunday referendum on creditor demands for spending cuts and tax hikes in exchange for more bailout money, 61 percent of Greeks voted "no," a much higher proportion than anticipated. Some analysts attributed the lack of sharper sell-off in stock markets to the resignation of the Greek finance minister, which might help bailout talks resume.

The Dow Jones industrial average fell 46.53 points, or 0.3 percent, to 17,683.58. The S&P 500 gave up 8.02 points, or 0.4 percent, to 2,068.76. The Nasdaq composite fell 17.27 points, or 0.3 percent, to 4,991.94.

In Europe, Germany's DAX fell 1.5 percent while the CAC-40 in France fell 2 percent. The FTSE 100 index of leading British shares was 0.8 percent lower.

Many in the markets fear that the Greek vote has pushed the country one step closer to leaving the euro.

Greek banks are running out of cash even after the government last week placed limits on how much depositors can withdraw. The European Central Bank has been providing emergency credit to the banks, but on Monday said it could not increase the amount offered because the banks' collateral was weaker now.

Meeting in Paris with her French counterpart, German Chancellor Angela Merkel stressed the importance of Greece taking "responsibility" for reforming its economy. Both she and French President Francois Hollande said the door was open to more negotiations. Eurozone leaders meet Tuesday to discuss the crisis.

Several reports from global banks and investment firms on Monday predicted the country will have no choice but to exit the euro and issue its own currency to relieve the cash crunch. A so-called "Grexit" from the euro is considered one of the biggest risks facing the global economy.

"The prospects of Greece remaining in the eurozone have suffered a setback," said Bill O'Neill, head of the U.K. Investment Office at UBS Wealth Management. "A deal to keep Greece in the eurozone remains possible, but the odds against a successful conclusion have now lengthened."

Russ Koesterich, chief strategist at giant money manager BlackRock, wrote in note to clients that he doesn't think the Greece crisis poses a "longer-term" threat to the global economy or financial markets.

Oil fell $4.40 to $52.53 a barrel on worries that a slowdown in Europe from the Greek crisis will cut demand for oil. Prices also reflected worries that Iranian crude held back by sanctions will soon hit the market as talks with the U.S. over Iran's nuclear program continue to progress.

Some hopes for progress in the talks with Greece grew Monday after Greek Finance Minister Yanis Varoufakis quit. Over months of negotiations, Varoufakis' relations with his peers in the eurozone had deteriorated significantly.

"The fact that Varoufakis has resigned hints that the Greek government may at least be offering an olive branch given his reputation for using aggressive terms such as 'water-boarding' to describe the creditors' actions," said Jane Foley, a senior currency analyst at Rabobank International.

The eurozone has taken steps after years of trouble with Greece to limit damage from a default and euro exit. Banks in Europe no longer hold much Greek government debt and the European Central Bank has pledged to pump liquidity into its financial system should fear spread through Europe.

Still, investors are on edge.

When the Greek government announced June 29 plans to hold a referendum and the closure of the country's banks, markets plunged around the world. In the U.S., the S&P 500 fell 2.1 percent, its biggest drop since the start of the year.

On Monday, investors braced for a repeat as Asian markets opened sharply lower. By the end of their trading days, Japan's Nikkei 225 and South Korea's Kospi each dropped more than 2 percent. Hong Kong's Hang Seng sank 3.2 percent.

China bucked the trend. The country's benchmark index, the Shanghai Composite climbed 2.4 percent after regulators and the securities industry intervened to prop up prices that had been falling in recent weeks.

Among U.S. stocks making big moves, Aetna sank $8.08 to $117.43, a 6.4 percent loss. That was the biggest slide in the S&P 500. The company agreed last week to buy rival health insurer Humana for $35 billion.

The euro fell 0.5 percent to $1.1057. The dollar slipped 0.3 percent to 122.54 Japanese yen.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.29 percent from 2.39 percent late Thursday, a big move. U.S. markets were closed Friday for Independence Day.

Gold rose $9.70 to $1,173.20 an ounce, silver rose 19 cents to $15.73 an ounce and copper fell nine cents to $2.54 a pound.

Brent crude, a benchmark for international oils used by many U.S. refineries, fell $3.78 to close at $56.54 in London.

In other futures trading on the NYMEX:

— Wholesale gasoline fell 11 cents to close at $1.924 a gallon.

— Heating oil fell 13.1 cent to close at $1.709 a gallon.

— Natural gas fell 6.6 cents to close at $2.756 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	93.33	points or ▲	0.53%	on	Tuesday, 7 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,776.91	▲	93.33	▲	0.53%		
	Nasdaq____	4,997.46	▲	5.52	▲	0.11%		
	S&P_500___	2,081.34	▲	12.58	▲	0.61%		
	30_Yr_Bond____	3.01	▼	-0.06	▼	-1.82%		

NYSE Volume	 4,470,581,000 	 	 	 	 	  		 
Nasdaq Volume	 2,133,919,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,432.21	▼	-103.47	▼	-1.58%		
	DAX_____	10,676.78	▼	-213.85	▼	-1.96%		
	CAC_40__	4,604.64	▼	-106.90	▼	-2.27%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,564.00	▲	100.70	▲	1.84%		
	Shanghai_Comp	3,727.12	▼	-48.79	▼	-1.29%		
	Taiwan_Weight	9,250.16	▼	-5.80	▼	-0.06%		
	Nikkei_225___	20,376.59	▲	264.47	▲	1.31%		
	Hang_Seng.__	24,975.31	▼	-260.97	▼	-1.03%		
	Strait_Times.__	3,340.93	▲	7.99	▲	0.24%		
	NZX_50_Index_	5,803.17	▲	26.55	▲	0.46%		

http://finance.yahoo.com/news/us-stocks-end-higher-greece-201246947.html
*
US stocks end higher as Greece debt talks proceed

US stock market closes higher as European leaders meet to discuss Greece's tottering finances*

Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- New twists in the Greek debt crisis led to a choppy day of trading on Tuesday, as a late turn left the stock market with a modest gain.

Greece and its creditors held talks in Brussels on Tuesday to discuss how to keep the country from falling out of the euro. Reports out late in the day said European officials considered providing Greece with emergency funding to help it avoid defaulting on its debts. Greece has little time left before its banks run out of cash.

"It's all Greece all the time," said Burt White, chief investment officer at LPL Financial.

Major indexes drifted lower in early trading, then dropped further around midday, pushing the Standard & Poor's 500 index below a technical level watched by many traders, the index's average over the past 200 days. To many in the market it was a signal that stocks had fallen too far, so they jumped back in.

"These technical factors played a role today," said Quincy Krosby, market strategist at Prudential Financial. "The other factor was that some of the language coming from European creditors suggested that, despite the differences, there appears to be strong political motivation to hammer out some sort of agreement with Greece."

The Standard & Poor's 500 index rose 12.58 points, or 0.6 percent, to 2,081.34.

The Dow Jones industrial average climbed 93.33 points, or 0.5 percent, to 17,776.91, while the Nasdaq composite inched up 5.52 points, or 0.1 percent, to 4,997.46.

Major indexes in Europe finished broadly lower. Germany's DAX slid 2 percent and France's CAC-40 lost 2.3 percent. Britain's FTSE 100 dropped 1.6 percent.

The gains in the U.S. were led by utilities and makers of consumer staples, safe-play sectors investors tend to favor when they're fearful of market swings.

The basic materials sector was the only one of the 10 industries in the S&P 500 index to fall. Among individual stocks, Newmont Mining dropped $1.45, or 6.1 percent, to $22.41, the biggest decline in the index.

Mining stocks have taken a hit from plunging prices for metals as traders worry about global demand for basic materials. The price of copper has dropped 7 percent over the past two days.

White thinks that as quarterly earnings reports start to roll in over the coming weeks, investors will turn away from Greece to focus on the U.S. and its improving economy. That shift, he said, could help pull the stock market out of its recent rut.

The unofficial start to the second-quarter earnings season starts Wednesday afternoon when Alcoa turns in its results. Analysts forecast that companies in the S&P 500 will report that their overall profits dropped 4 percent in the quarter, according to S&P Capital IQ. White said he expects that those expectations will prove too pessimistic.

Markets in China extended their slump. The Shanghai Composite Index fell 1.3 percent, while Hong Kong's Hang Seng lost 1 percent. Tokyo's Nikkei 225 advanced 1.3 percent, and Seoul's Kospi lost 0.7 percent.

China's stock market has lost nearly 30 percent after hitting a peak in June. The government has responded with a slew of new emergency measures, but analysts argue that they can't keep prices up without some improvement in economic growth.

"China's leadership has doubled down on its efforts to prop up equity prices," Mark Williams of Capital Economics wrote in a report. "There is a good chance that the market rescue efforts are seen to be a failure in a few months' time."

In other trading on Tuesday, Horizon Pharma offered roughly $2 billion to buy Depomed, a rival pharmaceutical company, in a hostile bid. The Dublin-based company took the offer directly to shareholders after Depomed's executives reportedly refused to talk about a previous proposal. Horizon fell 68 cents, or 2 percent, to $33.86, while Depomed soared $7.98, or 39 percent, to $28.62.

U.S. government bond prices rose, pushing the yield on the 10-year Treasury note down to 2.25 percent from 2.29 percent late Monday.

Precious and industrial metals closed lower. Gold lost $20.60 to settle at $1,152.60 an ounce, silver slid eight cents to $14.95 an ounce. Copper lost 9 cents to $2.45 a pound.

The price of oil dropped slightly following news that the Energy Department increased its forecast for crude oil production in the U.S. Benchmark crude fell 20 cents to close at $52.33 a barrel on the New York Mercantile Exchange. Brent crude, the international benchmark, rose 31 cents to close at $56.85 a barrel in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 2.5 cents to close at $1.949 a gallon.

”” Heating oil rose 0.2 cent to close at $1.711 a gallon.

”” Natural gas fell 4 cents to close at $2.716 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-261.49	points or ▼	-1.47%	on	Wednesday, 8 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,515.42	▼	-261.49	▼	-1.47%		
	Nasdaq____	4,909.76	▼	-87.70	▼	-1.75%		
	S&P_500___	2,046.68	▼	-34.66	▼	-1.67%		
	30_Yr_Bond____	2.99	▼	-0.03	▼	-0.96%		

NYSE Volume	 3,611,753,000 	 	 	 	 	  		 
Nasdaq Volume	 1,934,511,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,490.70	▲	58.49	▲	0.91%		
	DAX_____	10,747.30	▲	70.52	▲	0.66%		
	CAC_40__	4,639.02	▲	34.38	▲	0.75%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,456.50	▼	-107.50	▼	-1.93%		
	Shanghai_Comp	3,507.19	▼	-219.93	▼	-5.90%		
	Taiwan_Weight	8,976.11	▼	-274.05	▼	-2.96%		
	Nikkei_225___	19,737.64	▼	-638.95	▼	-3.14%		
	Hang_Seng.__	23,516.56	▼	-1,458.75	▼	-5.84%		
	Strait_Times.__	3,284.99	▼	-55.94	▼	-1.67%		
	NZX_50_Index_	5,767.70	▼	-35.47	▼	-0.61%		

http://finance.yahoo.com/news/nyse-shutdown-upends-already-tough-214042773.html
*
NYSE shutdown upends an already tough day for markets

US stocks end lower after technical issue shuts NYSE for half the day; no hack seen*
Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- It was already a tough day in the market when the unexpected hit.

The New York Stock Exchange halted trading late Wednesday morning because of technical trouble.

The outage came as traders had plenty of other things to worry about. Concerns about China's plunging stock market and a logjam in talks between Greece and its creditors weighed on the mood. Major indexes were already falling before the shutdown, which occurred shortly after 11:30 a.m. Eastern time. NYSE resumed trading at 3:10 p.m.

The exchange, in a statement late Wednesday, attributed the malfunction to a "configuration issue" and not as the result of hackers. A NYSE spokeswoman would not provide further details.

The broader stock market stayed open as orders to buy and sell kept flowing to the Nasdaq and other exchanges around the country.

Tom Caldwell, who runs an investment firm with stakes in several exchanges, said there are some 60 exchanges and trading venues that can take orders when one goes down, so investors shouldn't get rattled.

"It's disruptive, but not wildly disruptive," said Caldwell, chairman of Caldwell Securities.

President Obama was briefed on the NYSE situation, according to Josh Earnest, the White House spokesman. Officials told the president there were no malicious actors involved.

By the end of the day, the Standard & Poor's 500 index fell 34.66 points, or 1.7 percent, to close at 2,046.68.

The Dow Jones industrial average dipped 261.49 points, or 1.5 percent, to 17,515.42 and the Nasdaq slid 87.70 points, or 1.8 percent, to 4,909.76.

U.S. markets have been dogged by technical problems over recent years as more trading is handled by computers. In May 2010, the Dow plunged hundreds of points in minutes in an incident that later became known as the "flash crash." In March 2012, BATS Global Markets, a Kansas company that offers stock trading services, canceled its own IPO after several snafus.

Two months later, a highly anticipated IPO of Facebook on the Nasdaq exchange was marred by a series of technical problems, rattling investors unsure if their orders went through.

James Angel, an associate professor of finance at Georgetown University's McDonough School of Business, said NYSE's shutdown highlighted both the fragility and the resilience of modern technology. Angel sat on the board of exchange company Direct Edge before it was acquired by a larger rival last year.

"From an investors' perspective, if you hadn't heard about the outage, you probably wouldn't have noticed," Angel said.

Portfolio manager Mark Spellman of Alpine Funds said an outage similar to Wednesday's would have caused panic a few decades ago, when the NYSE dominated the market. But firms making trades were able to use a variety of other exchanges while the NYSE was out of commission. He says the disruption didn't cause any problems for the global markets.

"Only 15 to 20 percent of global stock exchange trading happens on the NYSE these days," he said. "Things are so spread out."

Still, others on Wall Street found the long outage unsettling.

Phil Orlando, chief equity strategist at Federated Investors, said it was unsettling that computer problems also forced United Airlines to temporarily ground its flights across the country and the Wall Street Journal's website went down, all on the same day.

"These are visible icons of American industry," he said. "It's just unnerving."

Todd Leone, a trader with Meridian Equity Partners, said in an interview outside the New York Stock Exchange that occasional technical glitches are a "fact of life" today.

"It's a little bit scary," Leone said, speaking during the NYSE outage. "Computers dominate our lives."

In China, the Shanghai Composite sank 6 percent despite new attempts by China's government to stop the selling. Hong Kong's Hang Seng, a victim of the turmoil in mainland Chinese markets, also lost 6 percent. Beijing ordered state-owned companies to buy shares and promised more credit to finance trading. The Shanghai index has lost almost a third of its value in the last month. It is still up 70 percent over the past year.

In Europe, Greece applied for a new three-year loan and said it would have a new proposal for creditors in coming days. The deeply indebted country needs a financial lifeline from its European lenders before its banks collapse, an event that could push Greece out of the currency union.

EUROPEAN STOCKS: The region's major markets finished with gains. Germany's DAX gained 0.7 percent and France's CAC 40 rose 0.8 percent. Britain's FTSE 100 added 0.9 percent.

METALS: Gold rose $10.90 to $1,163.50 an ounce, and silver added 20 cents to $15.15 an ounce. Copper gained 5 cents to $2.50.

BONDS AND CURRENCIES: U.S. government bond prices edged up, nudging the yield on the 10-year Treasury down to 2.20 percent from 2.26 late Tuesday. The euro rose to $1.1083, while the dollar fell to 120.78 yen.

CRUDE: The price of oil fell after the Energy Department reported a surprise increase in crude oil supplies for the second straight week. Benchmark U.S. crude fell 68 cents to close at $51.65 a barrel in New York. Brent crude, an international benchmark, rose 20 cents to close at $57.05 in London.

OTHER ENERGY MARKETS: Wholesale gasoline rose 5 cents to close at $1.999 a gallon. Heating oil rose 0.4 cent to close at $1.715 a gallon. Natural gas fell 3.1 cents to close at $2.685 per 1,000 cubic feet.


----------



## bigdog

*My apologies for not posting yesterday as retuning from Thailand to Melbourne*

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	211.79	points or ▲	1.21%	on	Friday, 10 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,760.41	▲	211.79	▲	1.21%		
	Nasdaq____	4,997.70	▲	75.30	▲	1.53%		
	S&P_500___	2,076.62	▲	25.31	▲	1.23%		
	30_Yr_Bond____	3.21	▲	0.11	▲	3.55%		

NYSE Volume	 3,072,074,250 	 	 	 	 	  		 
Nasdaq Volume	 1,598,576,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,673.38	▲	91.75	▲	1.39%		
	DAX_____	11,315.63	▲	319.22	▲	2.90%		
	CAC_40__	4,903.07	▲	145.85	▲	3.07%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,478.10	▲	21.80	▲	0.40%		
	Shanghai_Comp	3,877.80	▲	168.47	▲	4.54%		
	Taiwan_Weight	8,914.13	▲	0.00	▲	0.00%		
	Nikkei_225___	19,779.83	▼	-75.67	▼	-0.38%		
	Hang_Seng.__	24,901.28	▲	508.49	▲	2.08%		
	Strait_Times.__	3,279.88	▲	12.48	▲	0.38%		
	NZX_50_Index_	5,725.34	▼	-12.10	▼	-0.21%		

http://finance.yahoo.com/news/us-stocks-rise-optimism-greek-155446526.html

*US stocks rise on optimism that Greek debt deal will be done

US stocks rise on optimism for a deal to keep Greece in the euro; Airlines climb*

Associated Press By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- U.S. stocks logged their best day in two months Friday as Greece appeared to move closer to securing a bailout deal that will enable it to avoid bankruptcy and keep the country in the euro.

Greece and its creditors appeared to be narrowing their differences after Athens offered reform proposals in order to secure a third bailout of around 53 billion euros ($59.5 billion). A final decision could be made on Sunday.

A second day of gains for Chinese stocks also encouraged investors. U.S. stocks had fallen sharply on Wednesday, in part on concern that a monthlong slump in China's stock market could crimp growth in the world's second-largest economy.

"This is a giant collective exhaling," said Kristina Hooper, U.S. investment strategist at Allianz Global Investors. The Greek deal "is not done, but we're closer than we have been in a while."

The Standard & Poor's 500 index rose 25.31 points, or 1.2 percent, to 2,076.62. The Dow Jones industrial average climbed 211.79 points, or 1.2 percent, to 17,760.41. The Nasdaq composite gained 75.30 points, or 1.5 percent, to 4,997.70.

The gains pushed the S&P 500 back into positive territory for the year.

On Friday, stocks in China jumped before the U.S. market opened. China's Shanghai Composite Index jumped 4.5 percent, paring its losses for the month to 24 percent.

The Chinese market is only recovering after the government intervened heavily and about half of the companies listed in mainland China suspended trading in their stocks.

That's making some investors cautious.

"The policy makers appear to have some success in stabilizing values, but fifty percent of Chinese stocks are not currently trading," said Jim McDonald, chief investment strategist at Northern Trust.

Back in the U.S., airline stocks rallied after American Airlines, the nation's largest carrier, signaled that it was cutting back on its growth plans this year amid signs that average fares are declining. American said it expects to increase passenger-carrying capacity by 1 percent this year, down from an earlier forecast of 2 percent. American Airlines rose $1.54, or 3.9 percent, to $41.21. Delta Air Lines jumped $1.91, or 4.7 percent, to $42.46.

Investors also followed a speech by Federal Reserve Chair Janet Yellen on Friday.

Speaking in Cleveland, Ohio, Yellen said that the Fed is on track to start raising interest rates later this year, but expressed concerns over headwinds that are still holding back the U.S. economy, in particular lingering weakness in the labor market and new potential threats overseas.

David Kelly, chief global strategist at JPMorgan Asset Management, said after the speech that he expected the Fed to lift interest rates in September, provided that Greece reaches a deal with its creditors and there were no major financial crises between now and then.

Investor start focusing on second-quarter earnings next week as the pace of company reporting picks up.

Among the companies reporting are banks, including JPMorgan, Bank of America and Wells Fargo, as well as Delta, Netflix and Intel.

"Earnings will be adequate, we don't expect them to blow out the lights," said Allianz's Hooper. "It will be a subdued, but mildly positive earnings environment."

Companies in the S&P 500 are forecast to report that earnings shrank by 4.5 percent on average. While that would be the first contraction in earnings in almost six years, the figures are distorted by a big drop in energy company earnings following the collapse in the oil price last year.

In bond trading, prices fell. The yield on the 10-year Treasury note climbed to 2.40 percent from 2.32 percent on Thursday. The euro surged against the dollar, climbing 0.7 percent to $1.1151. The dollar rose 0.7 percent against the Japanese currency, to 122.80 yen.

The price of oil declined slightly and ended the week down 7 percent on concerns about economic growth in Europe and China as well as robust production from U.S. drillers. Benchmark U.S. crude fell 4 cents to close at $52.74 a barrel in New York. It ended last week at $56.93 a barrel. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 12 cents Friday to close at $58.73 a barrel in London.

In metals trading, silver rose 12 cents to $15.47 an ounce. Gold dropped $1.30 to $1,157.90 an ounce. Copper fell 1.3 cents to $2.55 a pound.

In other futures trading on the New York Mercantile Exchange:

— Wholesale gasoline fell 2.8 cents to close at $2.017 a gallon.

— Heating oil fell 0.4 cent to close at $1.740 a gallon.

— Natural gas rose 4.4 cents to close at $2.770 per 1,000 cubic feet.

8878


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	217.27	points or ▲	1.22%	on	Monday, 13 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,977.68	▲	217.27	▲	1.22%		
	Nasdaq____	5,071.51	▲	73.82	▲	1.48%		
	S&P_500___	2,099.60	▲	22.98	▲	1.11%		
	30_Yr_Bond____	3.21	▲	0.00	▼	-0.06%		

NYSE Volume	 3,096,856,750 	 	 	 	 	  		 
Nasdaq Volume	 1,696,274,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,737.95	▲	64.57	▲	0.97%		
	DAX_____	11,484.38	▲	168.75	▲	1.49%		
	CAC_40__	4,998.10	▲	95.03	▲	1.94%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,460.40	▼	-17.70	▼	-0.32%		
	Shanghai_Comp	3,970.39	▲	92.58	▲	2.39%		
	Taiwan_Weight	9,033.92	▲	119.79	▲	1.34%		
	Nikkei_225___	20,089.77	▲	309.94	▲	1.57%		
	Hang_Seng.__	25,224.01	▲	322.73	▲	1.30%		
	Strait_Times.__	3,311.22	▲	31.34	▲	0.96%		
	NZX_50_Index_	5,706.70	▼	-18.64	▼	-0.33%		

http://finance.yahoo.com/news/stocks-end-higher-greece-lines-201139769.html

*Stocks end higher after Greece lines up a new bailout deal

US stocks notch solid gains after Greece agrees to a new bailout deal with its creditors*

Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- A new agreement between Greece and its lenders helped lift the stock market on Monday, extending the market's winning streak to a third day. The deal for a new loan package is aimed at keeping the country in the euro, but many hurdles remain.

Major indexes headed higher at the opening bell, following solid gains in Europe, then kept climbing throughout the afternoon. Nearly three stocks rose for every one that fell on the New York Stock Exchange, and every sector in the S&P 500 finished with gains.

Nine hours after a self-imposed deadline passed, European officials announced the breakthrough on Greece early Monday. The tentative agreement removed an immediate threat that the country would default on its debts and leave the euro. In exchange for a three-year loan program, the deal requires Greece's parliament to pass tax increases and other key demands from its lenders into law by Wednesday.

"Our markets have reason to cheer," said Tim Dreiling, senior portfolio manager at the U.S. Bank's Private Client Reserve. "It's a reprieve from worry for a few days at least."

The Standard & Poor's 500 index gained 22.98 points, or 1.1 percent, to 2,099.60.

The Dow Jones industrial average climbed 217.27, or 1.2 percent, to 17,977.68, while the Nasdaq gained 73.82, or 1.5 percent, to 5,071.51.

Major markets in Europe rallied on the news. Germany's DAX climbed 1.5 percent and France's CAC 40 surged 1.9 percent. Britain's FTSE 100 finished with a gain of 1 percent.

Worries over Greece and China have buffeted markets in recent weeks. Barring any worrying news out of either country, investors will likely shift their attention to earnings reports as a parade of major corporations turn in second-quarter results.

JPMorgan Chase, Johnson & Johnson and Wells Fargo will report early Tuesday, followed by Bank of America and Google later in the week. Analysts expect overall earnings to fall 4.5 percent compared with the prior year, according to S&P Capital IQ. If that forecast comes true, it would mark the first drop in earnings since 2009.

Among other companies making big moves on Monday, Marathon Petroleum soared 8 percent, the biggest gain in the S&P 500, following its announcement that a partnership it runs will buy MarkWest Energy Partners, a company that works with natural gas. Marathon jumped $4.29 to $58.78.

Microsoft said it would roll out Windows 10 in late July. The upgraded operating system is supposed to allow users to switch seamlessly between personal computers and their gadgets. The company's stock rose 93 cents, or 2 percent, to $45.54, among the biggest gains in the Dow.

In Asia, Japan's Nikkei 225 gained 1.6 percent, South Korea's Kospi gained 1.5 percent. In China, the Shanghai Composite added 2.4 percent, bouncing back after a slew of government measures to halt a dramatic slide. Hong Kong's Hang Seng rose 1.3 percent.

Back in the U.S., government bond prices slipped, pushing yields up. The yield on the 10-year Treasury note rose to 2.43 percent from 2.40 percent late Friday.

Precious metals finished with slight losses. Gold lost $2.50 to settle at $1,155.40 an ounce, while silver sank 3 cents to $15.44 an ounce. Copper picked up a penny to close at $2.56 a pound.

Benchmark U.S. oil fell 54 cents to close at $52.20 a barrel on the New York Mercantile Exchange. Brent crude, an international benchmark, fell 88 cents at $57.85 a barrel in London.

In other futures trading on the NYMEX:

— Wholesale gasoline fell 7.7 cents to close at $1.940 a gallon.

— Heating oil fell 2.1 cents to close at $1.719 a gallon.

— Natural gas rose 9.4 cents to close at $2.864 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	75.9	points or ▲	0.42%	on	Tuesday, 14 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,053.58	▲	75.90	▲	0.42%		
	Nasdaq____	5,104.89	▲	33.38	▲	0.66%		
	S&P_500___	2,108.95	▲	9.35	▲	0.45%		
	30_Yr_Bond____	3.19	▼	-0.02	▼	-0.53%		

NYSE Volume	 3,002,250,250 	 	 	 	 	  		 
Nasdaq Volume	 1,685,091,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,753.75	▲	15.80	▲	0.23%		
	DAX_____	11,516.90	▲	32.52	▲	0.28%		
	CAC_40__	5,032.47	▲	34.37	▲	0.69%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,561.90	▲	101.50	▲	1.86%		
	Shanghai_Comp	3,924.49	▼	-45.90	▼	-1.16%		
	Taiwan_Weight	9,041.76	▲	7.84	▲	0.09%		
	Nikkei_225___	20,385.33	▲	295.56	▲	1.47%		
	Hang_Seng.__	25,120.91	▼	-103.10	▼	-0.41%		
	Strait_Times.__	3,316.50	▲	5.28	▲	0.16%		
	NZX_50_Index_	5,750.88	▲	44.18	▲	0.77%		

http://finance.yahoo.com/news/us-stocks-post-4th-straight-201029432.html

*US stocks post a 4th straight gain; Micron soars

US stocks post a 4th straight gain; Micron Technology soars on deal talk*

Associated Press By Bernard Condon, AP Business Writer

NEW YORK (AP) -- Stocks climbed broadly on Tuesday as investors who had been fretting over the Greek debt crisis and plunging Chinese stocks turned their attention back to the U.S. economy and corporate earnings reports.

JPMorgan Chase and Johnson & Johnson reported second-quarter profits that were stronger than expected. A government report showed that Americans cut back on spending at retailers last month, but some investors interpreted that as good for stocks since it may make the Federal Reserve more cautious when it starts raising rates for the first time in nine years.

"It's back to the mindset that bad news is good news," said James Abate, chief investment officer of Centre Funds. "We think (the Fed) will raise rates in September, but we don't think it will be an aggressive tightening cycle."

The gains were modest but widespread. Among the 10 industry sectors of the Standard and Poor's 500 index, only utilities fell. It was the fourth straight gain in a row for the broader index.

The S&P 500 increased 9.35 points, or 0.5 percent, to 2,108.95. The Dow Jones industrial average gained 75.90 points, or 0.4 percent, to 18,053.58. The Nasdaq composite climbed 33.38 points, or 0.7 percent, to 5,104.89.

The Commerce Department said retail sales slipped 0.3 percent in June, the weakest showing since February. That followed a robust 1 percent jump in May. A separate report from National Federation of Independent Business showed an index of small business optimism fell in June.

Investors were also keeping an eye on Greece after the country struck a preliminary deal with its creditors. Prime Minister Alexis Tsipras has to convince lawmakers to approve tax hikes and spending cuts by Wednesday to receive emergency money and re-open the country's banks, but he faced dissent even within his left-wing party.

Peter Cardillo, chief economist at Rockwell Global, a brokerage firm, thinks the Greek crisis may still spook the stock market. He said investors seemed to be more focused Tuesday on earnings, and hoping some decent reports so far will continue and buck the currently low expectations investors have.

"The earnings announcements are probably going to be the real driving force of the markets over the next few weeks," Cardillo said.

Earnings for companies in the S&P 500 index are expected to fall 4.4 percent compared with the prior year, according to S&P Capital IQ. That would be the first drop since 2009.

Companies reporting in the coming days include Delta Air Lines and Netflix on Wednesday, Ebay and Google on Thursday and General Electric on Friday.

Among stocks making big moves, loan servicing company Navient cut its earnings forecast because of weakened credit trends on some student loans and a drop in loans that are coming out of deferment compared with previous years. Its stock plunged $1.94, or 10.6 percent, to $16.42.

Micron Technology jumped 11 percent on reports that a Chinese company is preparing a $23 billion bid for the chip maker in what would be China's largest takeover of a U.S. company. Some media reports said that Tsinghua Unigroup Ltd. would bid $21 per Micron share, and that an offer could come this week. Micron gained $2 to $19.61.

Twitter briefly spiked 8.5 percent after a fake story said the company received a $31 billion buyout offer. The story appeared on a website made to look like Bloomberg's business news page. A Bloomberg spokesman said the story was bogus. Twitter closed up 94 cents, or 2.6 percent, to $36.72.

The main Chinese index lost 1.2 percent after three straight gains. The government has been trying to lift stocks after the Shanghai Composite Index lost as much as 30 percent over the past month. Among other measures, executives and big shareholders have been barred from selling. Analysts say it is unclear whether the market can hold up once the barriers to selling are relaxed.

In oil trading, benchmark U.S. crude rose 84 cents to close at $53.04 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 66 cents to close at $58.51 a barrel in London.

In other futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline fell 0.9 cents to close at $1.931 a gallon.

”” Heating oil rose 0.7 cent to close at $1.725 a gallon.

”” Natural gas fell 2.4 cents to close at $2.840 per 1,000 cubic feet.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.40 percent from 2.45 percent late Monday.

Precious and industrial metals futures closed lower. Gold lost $1.90 to $1,153.50 an ounce, silver fell 14 cents to $15.30 an ounce and copper gave up a penny to close at $2.54 a pound.


----------



## shouldaindex

DJI log chart peaks are lined up perfectly.

Fed ending 7 year easing cycle.

Conclusion too obvious?


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-3.41	points or ▼	-0.02%	on	Wednesday, 15 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,050.17	▼	-3.41	▼	-0.02%		
	Nasdaq____	5,098.94	▼	-5.95	▼	-0.12%		
	S&P_500___	2,107.40	▼	-1.55	▼	-0.07%		
	30_Yr_Bond____	3.13	▼	-0.06	▼	-1.76%		

NYSE Volume	 3,261,959,500 	 	 	 	 	  		 
Nasdaq Volume	 1,692,277,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,753.75	▲	0.00	▲	0.00%		
	DAX_____	11,539.66	▲	22.76	▲	0.20%		
	CAC_40__	5,047.24	▲	14.77	▲	0.29%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,619.00	▲	57.10	▲	1.03%		
	Shanghai_Comp	3,805.70	▼	-118.78	▼	-3.03%		
	Taiwan_Weight	9,054.20	▲	12.44	▲	0.14%		
	Nikkei_225___	20,463.33	▲	78.00	▲	0.38%		
	Hang_Seng.__	25,055.76	▼	-65.15	▼	-0.26%		
	Strait_Times.__	3,341.01	▲	24.51	▲	0.74%		
	NZX_50_Index_	5,805.95	▲	55.07	▲	0.96%		

http://finance.yahoo.com/news/energy-stocks-lead-us-market-213033842.html
*
Energy stocks lead US market lower; investor wait on Greece

Stocks slip as weaker oil pushes down shares of energy companies; investors await Greek vote*

Associated Press By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The U.S. stock market edged lower Wednesday, ending a four-day rally, as a drop in energy shares and jitters over Greece outweighed encouraging earnings reports from banks.

Energy stocks slumped along with the price of oil after a report showed that a drop in U.S. supplies last week was less than expected.

The market's pause follows strong gains. Stocks have surged in the past week as a slump in China's stock market abated and Greece reached a deal with its creditors for more loans to avoid bankruptcy and a possible exit from the euro.

Greece's deal with its creditors must still be approved by the country's lawmakers. As investors waited for a vote in the nation's parliament, protesters clashed with police in the streets of Athens. The protesters want an end to the harsh austerity measures demanded by Greece's creditors in exchange for more loans.

"You come in some days and it looks like it's all clear and that Greece has been resolved, and the next day it hasn't," said Michael Scanlon, portfolio manager with John Hancock Asset Management.

The Standard & Poor's 500 index edged down 1.55 points, or less than 0.1 percent, to 2,107.40. The Dow Jones industrial average slipped 3.41 points, or less than 0.1 percent, to 18,050.17. The Nasdaq composite fell 5.95 points, or 0.1 percent, to 5,098.94.

The U.S. stock market started the day higher after encouraging second-quarter results from banks, including Bank of America.

The bank said its profit more than doubled thanks to lower legal bills. It also said an increase in deposits, lower expenses and an improving balance sheet helped offset a decline in revenue.

The bank's stock rose 55 cents, or 3.2 percent, to $17.68.

Investors were also following Federal Reserve Chair Janet Yellen's comments to the House Financial Services Committee.

Yellen told Congress she sees encouraging signs that the economy is reviving after a harsh winter. If the improvements continue, she said, policymakers will likely start raising interest rates later this year. The Fed has kept its benchmark rate near zero since December 2008, pushing up bond and stock prices.

Yellen was flagging the possibility of higher rates so as not to surprise investors when the Fed does eventually lift them, said Quincy Krosby, a market strategist for Prudential Financial.

"That's the last thing she wants to do," said Krosby. "That's why we have to pay attention when she says that (a rate increase) is on the table."

Among individual stocks, Macy's was the biggest gainer in the S&P 500. The stock jumped on reports that activist investor firm Starboard Value thinks the department store chain could boost its value by spinning off its real estate holdings. Macy's climbed $5.28, or 7.9 percent, to $72.01.

In energy trading, benchmark U.S. crude fell $1.63, or 3 percent, to close at $51.41 a barrel, as a report on supplies showed a smaller-than-expected decline last week. The price of oil has fallen 13 percent this month.

Oil has come under further pressure after Iran reached a nuclear deal with world powers. That paves the way for sanctions on the country to be lifted, allowing Iran to export oil and add to a glut in global supply.

In government bond trading, prices rose. The yield on the 10-year Treasury note fell to 2.36 percent from 2.40 percent on Tuesday.

The dollar rose to 123.78 yen from 123.35 yen. The euro was down slightly to $1.0950 from $1.1010.

In metals trading, silver fell 27 cents to $15.03 an ounce. Gold dropped $6.10 to $1,147.40 an ounce. Copper declined 1.4 cents to $2.53 a pound.

In other futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline fell 7 cents to close at $1.86 a gallon.

”” Heating oil slipped 5.6 cents to close at $1.67 a gallon.

”” Natural gas rose 8 cents to close at $2.92 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	70.08	points or ▲	0.39%	on	Thursday, 16 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,120.25	▲	70.08	▲	0.39%		
	Nasdaq____	5,163.18	▲	64.24	▲	1.26%		
	S&P_500___	2,124.29	▲	16.89	▲	0.80%		
	30_Yr_Bond____	3.12	▼	-0.02	▼	-0.61%		

NYSE Volume	 3,229,916,000 	 	 	 	 	  		 
Nasdaq Volume	 1,798,212,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,796.45	▲	42.70	▲	0.63%		
	DAX_____	11,716.76	▲	177.10	▲	1.53%		
	CAC_40__	5,121.50	▲	74.26	▲	1.47%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,649.80	▲	30.80	▲	0.55%		
	Shanghai_Comp	3,823.18	▲	17.47	▲	0.46%		
	Taiwan_Weight	9,042.21	▼	-11.99	▼	-0.13%		
	Nikkei_225___	20,600.12	▲	136.79	▲	0.67%		
	Hang_Seng.__	25,162.78	▲	107.02	▲	0.43%		
	Strait_Times.__	3,350.23	▲	11.37	▲	0.34%		
	NZX_50_Index_	5,824.15	▲	18.20	▲	0.31%		

http://finance.yahoo.com/news/us-stocks-end-higher-citi-200825434.html

*US stocks end higher as Citi, others report strong earnings

Stocks close higher after eBay and others report earnings gains; Greek banks get cash*

Associated Press By Bernard Condon, AP Business Writer

NEW YORK (AP) -- A new financial lifeline for Greece and strong corporate earnings on Thursday helped push U.S. stocks higher.

Stocks rose from the start, following a jump in major European indexes, as strong second-quarter results from Netflix, eBay, Citigroup and other companies fed the buying. By the end of the day, nine of 10 industry sectors of the Standard and Poor's 500 index posted gains.

Investors have been worried about a possible Greek financial collapse, plunging Chinese stocks and Puerto Rico's struggles to pay its debt. But investors put those concerns aside as upbeat second-quarter company results suggested that earnings may turn out better than expected. A key gauge of anxiety among investors, the VIX, was down nearly 40 percent on Thursday from a week ago.

"Some of the red flags in the market have come down, and now the market can look to earnings," said Kevin Dorwin, managing principal of Bingham, Osborn & Scarborough, a San Francisco-based investment firm.

The S&P 500 gained 16.89 points, or 0.8 percent, to 2,124.29. The Dow Jones industrial average climbed 70.08 points, or 0.4 percent, to 18,120.25. The Nasdaq composite climbed 64.24 points, or 1.3 percent, to 5,163.18.

Stocks in Europe got a boost from news that Greek lawmakers approved tax hikes, cuts to pensions and other measures demanded by its creditors. That was followed by an announcement from the European Union that it would provide a short-term loan to Greece to help it cover its debts through mid-August. And the European Central Bank said it would raise the amount of emergency liquidity available to the country's banks.

Germany's DAX and France's CAC-40 each climbed 1.5 percent.

Among U.S. companies posting earnings, Netflix was a big winner. Its stock soared 18 percent, the biggest gain in the S&P 500. Investors were reacting to an announcement late Wednesday that the company had added far more streaming-video subscribers than projected in the second quarter, 3.3 million. The shares climbed $17.68 to $115.81.

Since the start of earnings season a week ago, 38 companies in the S&P 500 have reported results and most have beaten expectations. That has raised hope that earnings won't be as bad as many have feared. S&P Capital IQ, a financial data provider, is predicting that earnings at companies in the S&P 500 will fall 3.8 percent from a year earlier.

Earnings expectations may be low, but "if today is any indication, three-quarters of the companies will beat," said Jack Ablin, chief investment officer of BMO Private Bank.

Citigroup climbed $2.13, or 3.8 percent, to $58.59 after announcing profits had rebounded in the second quarter from a year earlier, when the bank had recorded a huge legal settlement for its role in the housing bubble and financial crisis.

Companies reporting Friday include General Electric, Honeywell and Kansas City Southern.

Among other stocks making moves:

”” EBay rose $2.15, or 3.4 percent, to $65.59 after announcing earnings that topped Wall Street expectations. The company also said it sold a business that helps develop online sites for retailers as it prepares to spin off PayPal.

”” Goldman Sachs fell $1.78, or 0.8 percent, to $211.18 after reporting second-quarter profit fell by half on higher provisions for mortgage-related litigation and regulatory matters.

”” Google jumped $62.17, or 10 percent, to $663.50 in after-market trading on better-than-expected earnings and revenue gains.

In China, the Shanghai Composite Index rose after two days of big drops, climbing 0.5 percent.

Benchmark U.S. crude lost 50 cents to close at $50.91 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 46 cents to close at $57.51 a barrel in London.

In other futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline rose 3.8 cents to close at $1.897 a gallon.

”” Heating oil fell 0.3 cent to close at $1.666 a gallon.

”” Natural gas declined 6.4 cents to close at $2.854 per 1,000 cubic feet.

U.S government bond prices didn't move much. The yield on the 10-year Treasury note held steady at 2.35 percent.

Precious and industrial metals futures closed mostly lower. Gold lost $3.50 to $1,143.90 an ounce, silver fell 6 cents to $14.96 an ounce and copper was little changed at $2.53 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-33.8	points or ▼	-0.19%	on	Friday, 17 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,086.45	▼	-33.80	▼	-0.19%		
	Nasdaq____	5,210.14	▲	46.96	▲	0.91%		
	S&P_500___	2,126.64	▲	2.35	▲	0.11%		
	30_Yr_Bond____	3.08	▼	-0.03	▼	-1.03%		

NYSE Volume	 3,375,896,750 	 	 	 	 	  		 
Nasdaq Volume	 1,856,307,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,775.08	▼	-21.37	▼	-0.31%		
	DAX_____	11,673.42	▼	-43.34	▼	-0.37%		
	CAC_40__	5,124.39	▲	2.89	▲	0.06%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,652.50	▲	2.70	▲	0.05%		
	Shanghai_Comp	3,957.35	▲	134.18	▲	3.51%		
	Taiwan_Weight	9,045.98	▲	3.77	▲	0.04%		
	Nikkei_225___	20,650.92	▲	50.80	▲	0.25%		
	Hang_Seng.__	25,415.27	▲	252.49	▲	1.00%		
	Strait_Times.__	3,353.45	▲	14.59	▲	0.44%		
	NZX_50_Index_	5,853.76	▲	29.61	▲	0.51%		

http://finance.yahoo.com/news/nasdaq-logs-best-week-nearly-201730212.html
*
Nasdaq logs best week in nearly nine months as Google jumps

Nasdaq logs best week in nearly nine months as Google surges on strong earnings*

Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- A strong week fizzled to a close on Friday as the stock market eked out a small gain. But a few companies made big moves. Google surged after reporting strong results, pushing the Nasdaq to another record high.

It was a quiet end to an eventful week. Markets around the world rallied on Monday after Greece and its creditors agreed to a broad framework for a new loan program. Stronger quarterly earnings reports from a range of big U.S. companies, including Citigroup and JPMorgan Chase, added more encouragement.

"It appears the sky is clearing," said Linda Duessel, senior equity strategist at Federated Investors.

Before this week, concerns about China's plunging stock market and the prospect of Greece leaving the euro "had been bogging us down," she said.

The Standard & Poor's 500 index edged up 2.35 points, or 0.1 percent, to close at 2,126.64. The broad-market measure finished the week with a gain of 2.4 percent, its best performance in four months.

The Nasdaq rose 46.96 points, or 0.9 percent, to 5,210.14, closing out its best week in nine months. The Dow Jones industrial average lost 33.80 points, or 0.2 percent, at 18,086.45.

Google jumped after reporting profits and sales that topped analysts' forecasts late Thursday. The results ended six consecutive quarters in which Google's earnings fell short of analysts' targets. Google rose $97.84, or 16 percent, to $699.62.

Earnings reports out this week have looked better than Wall Street expected. Analysts forecast that second-quarter earnings will shrink 3.3 percent compared with the prior year, according to S&P Capital IQ. Last week, the prediction was for a drop of 4.4 percent.

Greece's deal cleared another hurdle on Friday when German lawmakers overwhelmingly backed it. The European Union also said it would get Athens enough money for it to keep making its debt payments.

Europe's major markets finished mixed after rallying earlier this week. Germany's DAX lost 0.4 percent while France's CAC edged up 0.1 percent. Britain's FTSE 100 slipped 0.3 percent.

Back in the U.S., Comerica reported a drop in quarterly earnings, partially a result of the Dallas-based bank setting aside more money to cover losses on loans to oil companies. The news drove Comerica's stock down $3.19, or 6.3 percent, to $47.28.

Bond prices barely moved, leaving the 10-year Treasury note at 2.35 percent. The dollar dropped to 124.06 yen while rising to $1.0838 for every euro.

In commodities trading, precious and industrial metals sank. Gold fell $12 to settle at $1,131.90 an ounce, while silver sank 15 cents to $14.92 an ounce. Copper fell 3 cents to $2.50 a pound.

Benchmark U.S. crude oil fell two cents to close at $50.89 a barrel in New York. Brent crude, the international benchmark, rose 18 cents to close at $57.10 a barrel in London.

In other trading on the New York Mercantile Exchange:

— Wholesale gasoline rose 3.2 cents to close at $1.929 a gallon.

— Heating oil fell 0.2 cent to close at $1.664 a gallon.

— Natural gas increased 1.6 cents to close at $2.870 per 1,000 cubic feet.

9551


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	13.96	points or ▲	0.08%	on	Monday, 20 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,100.41	▲	13.96	▲	0.08%		
	Nasdaq____	5,218.86	▲	8.72	▲	0.17%		
	S&P_500___	2,128.28	▲	1.64	▲	0.08%		
	30_Yr_Bond____	3.11	▲	0.02	▲	0.75%		

NYSE Volume	 3,255,950,500 	 	 	 	 	  		 
Nasdaq Volume	 1,818,069,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,788.69	▲	13.61	▲	0.20%		
	DAX_____	11,735.72	▲	62.30	▲	0.53%		
	CAC_40__	5,142.49	▲	18.10	▲	0.35%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,669.00	▲	16.50	▲	0.29%		
	Shanghai_Comp	3,992.11	▲	34.76	▲	0.88%		
	Taiwan_Weight	8,975.00	▼	-70.98	▼	-0.78%		
	Nikkei_225___	20,650.92	▲	50.80	▲	0.25%		
	Hang_Seng.__	25,404.81	▼	-10.46	▼	-0.04%		
	Strait_Times.__	3,373.48	▲	20.03	▲	0.60%		
	NZX_50_Index_	5,861.93	▲	8.17	▲	0.14%		

http://finance.yahoo.com/news/us-stocks-notch-modest-gains-201243635.html
*
US stocks notch modest gains on solid earnings reports

US stocks rise slightly as following earnings gains from Hasbro, others; PayPal surges*

Associated Press By Alex Veiga, AP Business Writer

U.S. stocks ended slightly higher on Monday after a mostly listless day of trading. The Nasdaq composite managed to eke out its second straight record high.

Investors had their eye on company earnings news after weeks of fretting over Greece's debt crisis and a steep slide in China's stock market.

"We're focused on earnings and they're coming in better," said Quincy Krosby, a market strategist at Prudential Financial. "Even though the estimates have been lowered, the companies beating are beating very nicely."

Technology stocks rose more than the rest of the market. Gold slumped to its lowest level in five years, pulling mining stocks lower. A nearly three-week slump in oil prices deepened.

The Dow Jones industrial average gained 13.96 points, or 0.1 percent, to 18,100.41. The Standard & Poor's 500 index added 1.64 points, or 0.1 percent, to 2,128.28. The Nasdaq rose 8.72, or 0.2 percent, to 5,218.86, eclipsing its previous record set last Friday.

The three major indexes are up for the year. The S&P is up 3.4 percent, while the Dow is up 1.6 percent. The Nasdaq has gained 10.2 percent this year.

Stocks briefly wavered in early trading Monday, but mostly remained on course for a gain as traders reviewed the latest earnings reports.

Toymaker Hasbro and the oil and gas company Halliburton rose after reporting results Monday that were better than analysts were expecting.

Hasbro climbed $4.90, or 6.3 percent, to $83.15. Halliburton added 73 cents, or 1.8 percent, to $40.72.

PayPal surged 5.4 percent on its first day of trading as a stand-alone company after its separation from eBay. PayPal gained $2.08 to $40.47.

Newmont Mining slid 12.2 percent as gold prices slumped. The stock lost $2.53 to $18.16.

All told, seven of the 10 sectors in the S&P 500 moved higher, led by technology stocks. The sector is up 5.7 percent this year. Energy stocks fell the most, extending the sector's losses for the year to 10.5 percent.

It's a slow week for major economic news, but investors have their hands full with about 129 companies expected to report earnings.

More than 20, including Microsoft and Apple, will be delivering earnings on Tuesday.

Analysts forecast that second-quarter earnings by companies in the S&P 500 will shrink 3.4 percent compared with the prior year, according to S&P Capital IQ.

Earnings are taking center stage once again as fears over a Greek exit from the euro have abated.

On Monday, Greek banks reopened for the first time in more than three weeks. The European Union sent Athens the short-term money it needs to pay off a 4.2 billion-euro ($4.6 billion) debt to the European Central Bank and clear its arrears with the International Monetary Fund. Other hurdles remain before Greece secures its third bailout.

In energy futures trading, the price of oil continued its nearly three-week slump as it fell with other commodities over concerns over weakening demand in China.

Benchmark U.S. crude dipped below $50 briefly for the first time since April and closed down 74 cents to $50.15 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 45 cents to close at $56.65 in London.

In other futures trading on the NYMEX, wholesale gasoline rose 0.1 cent to close at $1.930 a gallon. Heating oil fell 0.6 cent to close at $1.658 a gallon. Natural gas fell 4.7 cents to close at $2.823 per 1,000 cubic feet.

Precious and industrial metals futures ended lower. Gold slumped $25.10 to $1,106.80 an ounce. Gold is trading at a five-year low as its appeal as a safe haven asset and a hedge against inflation have waned. Silver lost 8 cents to $14.75 an ounce. Copper fell two cents to $2.48 a pound.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.38 percent from 2.35 percent late Friday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-181.12	points or ▼	-1.00%	on	Tuesday, 21 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,919.29	▼	-181.12	▼	-1.00%		
	Nasdaq____	5,208.12	▼	-10.74	▼	-0.21%		
	S&P_500___	2,119.21	▼	-9.07	▼	-0.43%		
	30_Yr_Bond____	3.08	▼	-0.03	▼	-0.84%		

NYSE Volume	 3,343,757,000 	 	 	 	 	  		 
Nasdaq Volume	 1,775,857,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,769.07	▼	-19.62	▼	-0.29%		
	DAX_____	11,604.80	▼	-130.92	▼	-1.12%		
	CAC_40__	5,106.57	▼	-35.92	▼	-0.70%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,688.50	▲	19.50	▲	0.34%		
	Shanghai_Comp	4,017.67	▲	25.56	▲	0.64%		
	Taiwan_Weight	9,005.96	▲	30.96	▲	0.34%		
	Nikkei_225___	20,841.97	▲	191.05	▲	0.93%		
	Hang_Seng.__	25,536.43	▲	131.62	▲	0.52%		
	Strait_Times.__	3,371.41	▼	-2.07	▼	-0.06%		
	NZX_50_Index_	5,876.91	▲	14.98	▲	0.26%		

http://finance.yahoo.com/news/weak-showings-companies-including-ibm-201312658.html

*Weak showings from companies including IBM send stocks lower

US stocks end lower after several companies including IBM report disappointing results*

Associated Press By Alex Veiga, AP Business Writer

Disappointing earnings from several big U.S. companies put investors in a selling mood Tuesday, giving the stock market its first broad decline in four days.

IBM and United Technologies were among the companies whose latest quarterly report cards fell short of Wall Street's expectations or included dimmer outlooks. Telecommunications stocks were among the biggest decliners.

Traders have been focusing on the health of Corporate America to get a read on how the global economy is doing, though it's still early days. Only about 12 percent of the companies in the Standard & Poor's 500 index have reported earnings so far.

"Investors appear to be in a listen-only mode as we await greater clarity on second-quarter results," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. "Our belief is that equities still grind higher, but we're in a sideways-trending mode here into August and perhaps even in the early part of September as well."

The Dow Jones industrial average slumped 181.12 points, or 1 percent, to 17,919.29. The S&P 500 index lost 9.07 points, or 0.4 percent, to 2,119.21.

The Nasdaq composite slid 10.74 points, or 0.2 percent, to 5,208.12. The tech-heavy index closed at a record high the previous two days.

The three major stock indexes remain up for the year.

Nine of the 10 sectors in the S&P 500 index declined, led by a 1.7 percent drop in telecommunications stocks. Energy stocks rose slightly.

Stocks headed lower early on Tuesday as investors reacted to IBM's latest quarterly results, released late Monday. The market stayed in the red the rest of the day.

IBM delivered better-than-expected earnings, but its revenue fell short of financial analysts' forecasts. The stock slumped $10.15, or 5.9 percent, to $163.07.

On Tuesday, United Technologies reported earnings that didn't meet forecasts. The aerospace company also cut its outlook for 2015, citing weaker sales of Otis elevators in Europe and China's slowing economy. The stock lost $7.77, or 7 percent, to $102.71.

Verizon Communications also declined. While its earnings topped Wall Street's expectations, the number of newly added wireless postpaid customers was down from last year. Verizon fell $1.13, or 2.3 percent, to $46.97.

Investors found some companies' earnings made them buy-worthy.

Harley-Davidson surged 5 percent after the motorcycle maker's second-quarter earnings beat Wall Street expectations. The stock added $2.73 to $57.67.

Apple fell in after-hours trading after the company reported strong iPhone sales but revealed little about how sales of its new smartwatch were doing. The company also issued a forecast for the current quarter that suggested revenue could fall below analysts' estimates. Apple slid $8.45, or 6 percent, to $122.27.

Microsoft fell 3 percent in extended trading. The company, which also released its results after the closing bell, booked an $8.4 billion expense to write off the Nokia phone business it bought just over a year ago.

"The market is being cautious, waiting for a little more direction," said Ian Kerrigan, global investment specialist at J.P. Morgan Private Bank. "There are people who are taking some gains out there and waiting a little while to see what happens with Greece, what happens with China, what happens with the Fed."

About 60 percent of the companies in the S&P 500 report over the next two weeks. Analysts forecast that second-quarter earnings by companies in the S&P 500 will shrink 3.3 percent compared with the prior year, according to S&P Capital IQ.

Excluding results from energy sector companies, second-quarter earnings by companies in the index are projected to be up 4.5 percent, however.

In energy futures trading, benchmark U.S. crude rose 21 cents to close at $50.36 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, climbed 39 cents to close at $57.04 a barrel in London.

In other futures trading on the New York Mercantile Exchange, wholesale gasoline fell 0.9 cent to close at $1.921 a gallon. Heating oil rose 2 cents to close at $1.678 a gallon. Natural gas rose 5.9 cents to close at $2.882 per 1,000 cubic feet.

Precious and industrial metals futures ended mixed. Gold fell $3.30 to $1,103.50 an ounce, silver edged up two cents to $14.77 an ounce and copper edged down less than a penny to $2.48 a pound.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.33 percent from 2.38 percent late Monday.

Among other stocks making big moves Tuesday:

”” LifeLock plunged 49.3 percent after the Federal Trade Commission accused the identity theft protection company of misleading customers about the level of protection and the timeliness of the warnings they will receive. The agency also contends that LifeLock isn't living up to a previous $12 million settlement with regulators. The company said it is prepared to defend itself in court. The stock slid $7.91 to $8.15.

”” Chesapeake Energy fell 9.5 percent on news that the energy company has axed its annual dividend and will redirect the money into its 2016 capital spending program. The move comes as natural gas and crude are in an extended decline with few signs of a rebound. The stock lost 98 cents to $9.29.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-68.25	points or ▼	-0.38%	on	Wednesday, 22 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,851.04	▼	-68.25	▼	-0.38%		
	Nasdaq____	5,171.77	▼	-36.35	▼	-0.70%		
	S&P_500___	2,114.15	▼	-5.06	▼	-0.24%		
	30_Yr_Bond____	3.04	▼	-0.04	▼	-1.40%		

NYSE Volume	 3,694,134,000 	 	 	 	 	  		 
Nasdaq Volume	 2,037,507,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,667.34	▼	-101.73	▼	-1.50%		
	DAX_____	11,520.67	▼	-84.13	▼	-0.72%		
	CAC_40__	5,082.57	▼	-24.00	▼	-0.47%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,603.50	▼	-85.00	▼	-1.49%		
	Shanghai_Comp	4,026.04	▲	8.37	▲	0.21%		
	Taiwan_Weight	8,918.70	▼	-87.26	▼	-0.97%		
	Nikkei_225___	20,593.67	▼	-248.30	▼	-1.19%		
	Hang_Seng.__	25,282.62	▼	-253.81	▼	-0.99%		
	Strait_Times.__	3,358.63	▼	-12.78	▼	-0.38%		
	NZX_50_Index_	5,927.75	▲	50.84	▲	0.87%		

http://finance.yahoo.com/news/techn...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3
*
Technology shares lead a slump in US stocks; Apple sinks

Technology stocks sink, dragging broader market lower, on weak showings from Apple, others*

Associated Press By Alex Veiga, AP Business Writer

U.S. stocks notched their second decline in as many days Wednesday, pulled down by a technology stock slump headlined by Apple and Microsoft.

Both companies delivered disappointing quarterly results or outlooks the night before, setting the stage for the sell-off in the technology sector.

"Apple is the biggest publicly traded company in the world, so it's going to have a big impact on the indices," noted Erik Davidson, chief investment officer at Wells Fargo Private Bank.

The slide wasn't that broad, however. Financial and utilities stocks were among the big gainers. And homebuilders got a boost from a report indicating U.S. home sales surged last month to the fastest pace in more than eight years.

The Dow Jones industrial average slid 68.25 points, or 0.4 percent, to 17,851.04. The Standard & Poor's 500 index lost 5.06 points, or 0.2 percent, to 2,114.15.

The Nasdaq composite shed 36.35 points, or 0.7 percent, to 5,171.77. The tech-heavy index, which hit a new high on Monday, remains the best-performing index for the year. It's up 9.2 percent, while the S&P 500 is up 2.7 percent and the Dow is essentially flat.

Five of the 10 sectors in the S&P 500 index declined, led by a 1.6 percent drop in technology stocks. Financials led the gainers, rising 0.7 percent.

The major stock indexes declined from the get-go as traders reacted to weaker showings late Tuesday from Microsoft, Yahoo and Apple.

Yahoo posted a nearly $22 million loss driven by soaring commissions paid to its partners and flat sales. The stock slipped 49 cents, or 1.2 percent, to $39.24.

Microsoft's slide was more pronounced at 3.7 percent. The company reported a hefty quarterly loss stemming from an expense of $8.4 billion related to its purchase of the Nokia phone business over a year ago. The stock lost $1.74 to $45.54.

Apple fared the worst, shedding 4.2 percent after management gave a cautious outlook for the current quarter and didn't provide much detail on how the company's new smartwatch was doing. Apple's latest results also stirred investor concerns about a slowdown in the growth of iPhone sales. The stock fell $5.53 to 125.22.

Despite its size, Apple's latest results don't necessarily speak to the overall health of the economy or corporate America, Davidson said.

"Do iPhone sales tell us a lot about the broader economy and the markets or does it tell us more about Apple? It probably tells us more about Apple," Davidson said. "In general, you have a U.S. economy that is recovering. Earnings are going fairly well."

Several other companies, including consumer reviews service Angie's List, Tupperware Brands and Packaging Corp. of America reported earnings or revenue that fell short of Wall Street's expectations.

Whirlpool and Chipotle Mexican Grill were among the companies whose earnings impressed investors Wednesday.

Shares in Whirlpool vaulted $12.15, or 7.3 percent, to $178.36, while Chipotle gained $52.75, or 7.8 percent, to $725.82.

Investors have their eye on company earnings and outlooks to get a sense of how the economy is doing. Of the roughly 104 companies that have reported so far, about 70 percent of them delivered results that beat Wall Street estimates, according to S&P Capital IQ.

McDonald's and Caterpillar are among the other big-name companies reporting earnings on Thursday.

In a light week of economic news, the market got encouraging data on the housing market.

The National Association of Realtors said that sales of previously occupied homes climbed 3.2 percent in June to a seasonally adjusted annual rate of 5.49 million. That's the highest pace in more than eight years and indicates that demand has eclipsed the amount of homes available for sale.

Homebuilder shares got a bump from the report, with New Home notching the biggest gain. The stock rose 99 cents, or 5.9 percent, to $17.81.

"It may be tough to keep that pace, but it really shows how much the housing market is going in the right direction, and along with employment, there's a lot of hope for the economy," said JJ Kinahan, TD Ameritrade's chief strategist.

The price of oil closed below $50 for the first time since April after the government reported a surprise increase in U.S. crude inventories.

Oil inventories typically shrink this time of year because demand is high, and analysts had expected a decline of 1.9 million barrels, according to Platts. Instead, crude supplies increased by 2.5 million barrels, according to the Energy Information Administration's weekly status report.

Benchmark U.S. crude fell $1.67 to close at $49.19 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 91 cents to close at $56.13 a barrel in London.

In other futures trading on the New York Mercantile Exchange, wholesale gasoline fell 5.3 cents to close at $1.868 a gallon. Heating oil fell 0.6 cents to close at $1.672 a gallon. Natural gas rose 1.5 cents to close at $2.897 per 1,000 cubic feet.

Precious and industrial metals futures fell.

Gold lost $12 to $1,091.50 an ounce. Silver gave up six cents to $14.71 an ounce and copper declined five cents to $2.43 an ounce.

Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 2.33 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-119.12	points or ▼	-0.67%	on	Thursday, 23 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,731.92	▼	-119.12	▼	-0.67%		
	Nasdaq____	5,146.41	▼	-25.36	▼	-0.49%		
	S&P_500___	2,102.15	▼	-12.00	▼	-0.57%		
	30_Yr_Bond____	2.98	▼	-0.06	▼	-1.94%		

NYSE Volume	 3,772,994,750 	 	 	 	 	  		 
Nasdaq Volume	 2,005,523,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,655.01	▼	-12.33	▼	-0.18%		
	DAX_____	11,512.11	▼	-8.56	▼	-0.07%		
	CAC_40__	5,086.74	▲	4.17	▲	0.08%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,581.30	▼	-22.20	▼	-0.40%		
	Shanghai_Comp	4,123.92	▲	97.88	▲	2.43%		
	Taiwan_Weight	8,791.12	▼	-127.58	▼	-1.43%		
	Nikkei_225___	20,683.95	▲	90.28	▲	0.44%		
	Hang_Seng.__	25,398.85	▲	116.23	▲	0.46%		
	Strait_Times.__	3,356.37	▼	-2.80	▼	-0.08%		
	NZX_50_Index_	5,901.30	▼	-26.45	▼	-0.45%		

http://finance.yahoo.com/news/stocks-fall-3rd-straight-day-201119684.html

*Stocks fall for 3rd straight day as earnings disappoint

Disappointing earnings extend stock market losses to third straight day*
Associated Press By Alex Veiga, AP Business Writer

Investors have been second-guessing the strength of company results this week and they found more reasons to do so on Thursday.

Disappointing earnings and outlooks from several big companies, including American Express, Caterpillar and 3M helped drag U.S. stocks lower for a third day in a row. The losing streak has nudged the Dow Jones industrial average into negative territory for the year.

While companies have mostly reported better-than-anticipated profits since the start of the month, many have fallen short when it comes to revenue. Others have issued cautious outlooks, citing the strength of the dollar, a slowing economy in China or falling oil prices. That's giving investors reason to pause.

What investors need in order to push stocks higher again is "true revenue growth from the corporate sector, which we just haven't seen," said Randy Frederick, managing director of trading and derivatives at Charles Schwab & Co.

Amazon bucked the trend, jumping 15 percent in after-hours trading following better-than-expected earnings.

The Dow slid 119.12 points, or 0.7 percent, to 17,731.92. The average is now down 0.5 percent for the year.

The Standard & Poor's 500 index lost 12 points, or 0.6 percent, to 2,102.15. Utilities and materials stocks fell the most among the 10 industry groups on the index.

The Nasdaq composite declined 25.36 points, or 0.5 percent, to 5,146.41. The tech-focused index, which hit a high on Monday, remains the best-performing index for the year. It's up 8.7 percent, compared with 2.1 percent for the S&P 500.

Bond prices rose as investors shifted money from stocks into bonds. The yield on the 10-year Treasury note fell to 2.27 percent.

A slide in the price of oil deepened on concerns that global crude supplies continue to outpace demand. U.S. crude is below $50 a barrel.

Thursday's stock market decline began early as investors sized up the latest earnings.

American Express, Caterpillar and 3M all released weaker-than-expected results. American Express fell $1.98, or 2.5 percent, to $77.01. Caterpillar lost $2.88, or 3.6 percent, to $76.88, while 3M declined $5.91, or 3.8 percent, to $149.50.

Traders bid up shares in other companies that delivered strong results.

General Motors rose 4 percent after the automaker's second-quarter earnings handily beat financial analysts' forecasts. Southwest Airlines turned in its ninth straight quarter of record earnings late Wednesday. The stock also rose 4 percent.

Roughly one-third of the companies in the S&P 500 have reported earnings so far. About 73 percent of them have delivered results that beat Wall Street estimates, according to S&P Capital IQ. That's better than the historical average of 66 percent.

But in many cases, companies are growing earnings by cutting expenses or buying back shares, Frederick said.

In energy futures trading, benchmark U.S. crude fell 74 cents to close at $48.45 a barrel in New York. Crude has fallen 21 percent over the past month, from $61.01 on June 23. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 86 cents Thursday to close at $55.27 in London.

In other futures trading, wholesale gasoline fell 1.6 cents to close at $1.852 a gallon, while heating oil fell 1.7 cents to close at $1.655 a gallon. Natural gas fell 8.1 cents to close at $2.816 per 1,000 cubic feet.

Precious and industrial metals futures ended mixed. Gold rose $2.60 to $1,094.10 an ounce, silver gave up three cents to end at $14.68 an ounce and copper fell five cents to $2.39 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-163.39	points or ▼	-0.92%	on	Friday, 24 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,568.53	▼	-163.39	▼	-0.92%		
	Nasdaq____	5,088.63	▼	-57.78	▼	-1.12%		
	S&P_500___	2,079.65	▼	-22.50	▼	-1.07%		
	30_Yr_Bond____	2.97	▼	-0.01	▼	-0.27%		

NYSE Volume	 3,870,016,500 	 	 	 	 	  		 
Nasdaq Volume	 2,008,801,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,579.81	▼	-75.20	▼	-1.13%		
	DAX_____	11,347.45	▼	-164.66	▼	-1.43%		
	CAC_40__	5,057.36	▼	-29.38	▼	-0.58%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,556.80	▼	-24.50	▼	-0.44%		
	Shanghai_Comp	4,070.91	▼	-53.01	▼	-1.29%		
	Taiwan_Weight	8,767.86	▼	-23.26	▼	-0.26%		
	Nikkei_225___	20,544.53	▼	-139.42	▼	-0.67%		
	Hang_Seng.__	25,128.51	▼	-270.34	▼	-1.06%		
	Strait_Times.__	3,352.65	▼	-3.72	▼	-0.11%		
	NZX_50_Index_	5,894.18	▼	-7.12	▼	-0.12%		

http://finance.yahoo.com/news/us-stocks-sink-p-500-200855248.html

*US stocks sink; S&P 500 index notches another losing week

Poor company earnings send US stocks lower, giving the S&P 500 index another weekly loss*
Associated Press By Alex Veiga, AP Business Writer

The U.S. stock market capped a four-day losing streak with its biggest drop of the week.

Disappointing quarterly results and outlooks from several companies pulled the major stock indexes sharply lower on Friday. New signs pointing to a slowing of China's economy also added to investor jitters, bringing down the price of oil and other commodities.

While corporate profits have mostly exceeded Wall Street's expectations so far this earnings season, investors have grown uneasy as many companies provided cautious outlooks or weak sales.

"The revenue numbers have been very shaky," said JJ Kinahan, TD Ameritrade's chief strategist. "After next week, we'll have a much better picture overall how the earnings season was. But right now, that's the theme that I'm seeing, and it's not a healthy one."

The mixed company earnings increasingly weighed on stocks as the week wore on. The Standard & Poor's 500 index has now lost ground four out of the last five weeks.

The S&P 500 ended the day down 22.50 points, or 1.1 percent, to 2,079.65, while the Dow Jones industrial average slid 163.39 points, or 0.9 percent, to 17,568.53. The Nasdaq composite lost 57.78 points, or 1.1 percent, to 5,088.63.

Stocks kicked off the week on a strong note, driving the Nasdaq to its latest record high and bringing the S&P 500 close to a milestone of its own. But it's been downhill since then. The Dow fell into negative territory for the year on Thursday. As of Friday, it was down 1.4 percent for 2015.

The tech-focused Nasdaq remains the best-performing index for the year. It's up 7.4 percent, compared with 1 percent for the S&P 500.

Trading got off to an uneven start on Friday. The major indexes were all down by midmorning as traders sized up the latest corporate earnings.

Biotechnology company Biogen and pharmaceutical company AbbVie both reported a better-than-expected second-quarter profits, but their revenue fell short of Wall Street forecasts. Biogen plunged $85.02, or 22.1 percent, to $300.03. AbbVie declined $2.44, or 3.5 percent, to $68.08.

Capital One Financial, which announced quarterly results a day earlier that failed to live up to financial analysts' expectations, sank 13.1 percent. The stock ended down $11.91 at $78.86.

Even a dash of merger news, which often puts investors in a buying mood, failed to impress.

Anthem agreed to buy rival Cigna for $48 billion in a deal that would create the nation's largest health insurer by enrollment, covering about 53 million U.S patients. Anthem fell $4.35, or 2.8 percent, to $150.86, while Cigna lost $8.64, or 5.6 percent, to $145.72.

Investors did welcome Amazon's latest quarterly report card. The e-commerce pioneer announced a surprise profit late Thursday. The stock vaulted $47.24, or 9.8 percent, to $529.42.

Nine of the 10 sectors in the S&P 500 ended lower. Health care stocks fell the most, 2.5 percent. Utilities edged higher.

Of the 187 companies in the S&P 500 that have reported earnings so far, about 72 percent of them have delivered results that beat Wall Street estimates, according to S&P Capital IQ. That's better than the historical average of 66 percent.

"Generally most companies are seeing modest growth, but nothing to write home about," said Brad Sorensen, managing director of market and sector analysis at Schwab Center for Financial Research.

Another 163 companies, or a third of the S&P 500, are due to report earnings next week, including Facebook, Twitter and Exxon Mobil.

In energy trading, the price of oil continued to slide Friday as the number of rigs drilling for oil in the U.S. rose. Benchmark U.S. crude fell 31 cents to close at $48.14 a barrel in New York. Crude fell 5 percent for the week, and is down 19 percent for the month. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 65 cents Friday to close at $54.62 a barrel in London.

In other futures trading, wholesale gasoline fell 2.4 cents to close at $1.828 a gallon, while heating oil fell 2.5 cents to close at $1.630 a gallon. Natural gas fell 4 cents to close at $2.776 per 1,000 cubic feet.

Precious and industrial metals futures closed broadly lower. Gold lost $8.60 to $1,085.50 an ounce, silver gave up 21 cents to finish at $14.48 an ounce and copper edged down less than a penny to $2.38 a pound.

The price of U.S. government bonds rose slightly. The yield on the 10-year Treasury note fell to 2.26 percent from 2.27 percent late Thursday.

0625


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-127.94	points or ▼	-0.73%	on	Monday, 27 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,440.59	▼	-127.94	▼	-0.73%		
	Nasdaq____	5,039.78	▼	-48.85	▼	-0.96%		
	S&P_500___	2,067.64	▼	-12.01	▼	-0.58%		
	30_Yr_Bond____	2.95	▼	-0.03	▼	-0.84%		

NYSE Volume	 3,836,939,750 	 	 	 	 	  		 
Nasdaq Volume	 1,829,763,630 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,505.13	▼	-74.68	▼	-1.13%		
	DAX_____	11,056.40	▼	-291.05	▼	-2.56%		
	CAC_40__	4,927.60	▼	-129.76	▼	-2.57%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,579.20	▲	22.40	▲	0.40%		
	Shanghai_Comp	3,725.56	▼	-345.35	▼	-8.48%		
	Taiwan_Weight	8,556.68	▼	-23.26	▼	-0.26%		
	Nikkei_225___	20,350.10	▼	-194.43	▼	-0.95%		
	Hang_Seng.__	24,351.96	▼	-776.55	▼	-3.09%		
	Strait_Times.__	3,313.42	▼	-211.18	▼	-2.41%		
	NZX_50_Index_	5,872.06	▼	-22.12	▼	-0.38%		

http://finance.yahoo.com/news/plunge-chinese-shares-helps-send-210326042.html
*
Plunge in Chinese shares helps send global markets lower

Huge drop in Chinese stocks helps send indexes lower in US and Europe; Bond, gold prices rise*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- The worst drop in China's stock market in eight years helped drag down other markets around the world Monday.

The tough day follows declines in U.S. markets last week, when the three major indexes fell more than 2 percent as a number of big companies reported disappointing earnings.

Faced with a drop in stock prices in Asia, Europe and the U.S., investors moved into traditional safe havens. The yield on the 10-year U.S. Treasury note fell to 2.22 percent from 2.26 percent on Friday. The price of gold rose 1 percent.

Dividend-heavy stocks, like utilities, also gained. Investors favor high-dividend companies during times of volatility because they provide a reliable income stream.

"There remain very few buyers out there and there are some growing concerns that we're looking at a slowdown in global economic growth," said Sean Lynch, co-head of global equity strategy with the Wells Fargo Investment Institute.

The Dow Jones industrial average lost 127.94 points, or 0.7 percent, to 17,440.59. The Standard & Poor's 500 index lost 12.01 points, or 0.6 percent, to 2,067.64 and the Nasdaq composite lost 48.85 points, or 1 percent, to 5,039.78.

It was the fifth straight loss for the U.S. market. The S&P 500 is still up about half a percent for the year. The Dow is down 2 percent and the tech-heavy Nasdaq is up 6 percent.

ASIA

The worries for investors this week started with an 8.5 percentage point plunge on the Shanghai market, the biggest one-day decline since February 2007. It was the latest big drop in the Chinese stock market, which has slumped since early June.

Some analysts said Monday's dive was set off by brokerages restricting credit used to finance stock purchases, also known as margin trading. Chinese authorities took aggressive steps to stabilize the market after it tumbled last month.

"The continuous check on margin trading by security companies has triggered today's sell-off," said Xu Xiaoyu, a market strategist at China Investment Securities. "In addition, the recent economic data shows it still takes time for the economy to recover from its sluggishness."

The precipitous rise and fall of the Chinese stock market has been one of the bigger topics of conversation for investors this summer.

By the time China's Shanghai benchmark index peaked in early June, it was up 150 percent in the last year. The gains were originally driven by commentary in state media that called the stock market undervalued. That led investors to believe the government would ensure that stock prices gained.

When the Chinese stock market started falling, many investors felt the decline would bring a much-needed correction to that country's stock market bubble. But many small Chinese investors jumped into the market near its peak and are now sitting on significant losses.

There are now concerns the 30 percent decline in the stock market is starting to do damage to China's economy. A closely watched Chinese purchasing manager's index fell to a 15-month low over the weekend, with analysts blaming the drop partly on the market.

"Rightly or wrongly, people are concerned about a global economic slowdown," said James Liu, a global market strategist with JPMorgan Funds.

The Chinese sell-off ruffled other markets in Asia, though the scant amount of foreign investment in Chinese shares limits the ripple effects outside of Hong Kong, a semiautonomous Chinese territory that is also a financial center.

Hong Kong's Hang Seng shed 3.1 percent and Japan's Nikkei 225 dropped 1 percent. South Korea's Kospi fell 0.4 percent.

EUROPE and the U.S.

In Europe, which has already had a volatile summer because of worries about Greece's precarious finances, also fell broadly on Monday.

The Euro STOXX 50 index, the European equivalent of the Dow 30, fell 2.4 percent. Germany's DAX lost 2.6 percent, France's CAC-40 lost 2.6 percent and the U.K.'s FTSE 100 lost 1.1 percent.

Elsewhere, traders were turning their attention to the U.S. Federal Reserve as they try to assess when the central bank will start raising interest rates. The market appears split between those who think it will happen in September or December. The central bank will also meet this week, but few expect it to begin raising rates.

Traders also have the busiest week for second-quarter earnings reports this week, with 174 members of the S&P 500 as well as six members of the Dow average reporting their results.

BIG PHARMA GETS BIGGER

Generic drug giant Teva Pharmaceuticals jumped $8.76, or 14 percent, to $70.61 after it announced it would buy Allergan's generic drug division for $40.5 billion in cash and stock. Allergan's shares also rose, up $19.01, or 6 percent, to $327.19.

CURRENCIES AND COMMODITIES

The price of oil fell to the lowest point since March as another steep drop in Chinese stocks caused concerns that demand from the world's second biggest oil consumer would slip. Benchmark U.S. crude fell 75 cents to close at $47.39 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.15 to close at $53.47 a barrel in London.

In other futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline fell 0.8 cent to close at $1.820 a gallon.

”” Heating oil fell 3.4 cents to close at $1.596 a gallon.

”” Natural gas rose 1.3 cents to close at $2.789 per 1,000 cubic feet.

In currency trading, the euro strengthened 0.9 percent to $1.1092 while the dollar fell 0.4 percent to 123.28 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	189.68	points or ▲	1.09%	on	Tuesday, 28 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,630.27	▲	189.68	▲	1.09%		
	Nasdaq____	5,089.21	▲	49.43	▲	0.98%		
	S&P_500___	2,093.25	▲	25.61	▲	1.24%		
	30_Yr_Bond____	2.95	▼	-0.03	▼	-0.84%		

NYSE Volume	 2,022,850,500 	 	 	 	 	  		 
Nasdaq Volume	 1,829,763,630 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,555.28	▲	50.15	▲	0.77%		
	DAX_____	11,173.91	▲	117.51	▲	1.06%		
	CAC_40__	4,977.32	▲	49.72	▲	1.01%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,571.00	▼	-8.20	▼	-0.15%		
	Shanghai_Comp	3,663.00	▼	-62.65	▼	-1.68%		
	Taiwan_Weight	8,556.68	▼	-25.81	▲	0.30%		
	Nikkei_225___	20,328.89	▼	-21.21	▼	-0.10%		
	Hang_Seng.__	24,503.94	▲	151.98	▲	0.62%		
	Strait_Times.__	3,281.09	▼	-32.33	▼	-0.98%		
	NZX_50_Index_	5,848.39	▼	-23.67	▼	-0.40%		

http://finance.yahoo.com/news/stocks-end-skid-strong-earnings-212141506.html

*Stocks end skid on strong earnings, more stability in China

Strong US company earnings, smaller decline in China help stocks end 5-day losing streak*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Global stocks steadied and U.S. markets marched higher Tuesday, as investors were encouraged by strong results from UPS, Ford and other big companies.

The recovery comes after five straight days of losses for U.S. indexes. It's not uncommon for stocks to reverse course after several days in one direction, and investors say the market is still lacking the foundation for an extended rally.

"We just don't see any significant catalyst that will move this market higher, even after last week's declines," said Kristina Hooper, global market strategist with Allianz Global Investors.

The Dow Jones industrial average rose 189.68 points, or 1.1 percent, to 17,630.27, ending near its high for the day. The Standard & Poor's 500 index rose 25.61 points, or 1.2 percent, to 2,093.25 and the Nasdaq composite rose 49.43 points, or 1 percent, to 5,089.21.

A dose of corporate earnings gains helped drive the advance Tuesday.

UPS rose $4.82, or 5.1 percent, to $99.94. The company saw profits jump from a year ago, helped by stronger business overseas. UPS is sometimes seen a proxy for the global economy because of its huge role in delivering goods all over the world on a daily basis.

Ford rose 28 cents, or 1.9 percent, to $14.83. The carmaker said profits jumped 44 percent in the second quarter, helped by higher global sales and higher prices for premium trucks and SUVs.

Ford and UPS are just a few of the more than 170 companies in the S&P 500 that report their results this week.

Global markets were a little less stressed Tuesday.

The Shanghai Composite Index closed down 1.7 percent, but had been trading down as much as 4 percent earlier in the day. Chinese stocks plunged 8.5 percent on Monday, the biggest drop since February 2007, despite concerted efforts by the Chinese government to stem the market's slide. European stocks rose roughly 1 percent.

Traders were turning their attention to the U.S. Federal Reserve as they try to assess when interest rates will rise. Fed policymakers started a two-day meeting on Tuesday, but few central bank watchers expect a rate hike. Many expect the Fed to begin its next cycle of rate increases in September or December. Ultra-low interest rates have been a boon for stock and bond markets, and many questions remain about how markets will react to the first increase since the 2008 financial crisis.

In other markets, the price of U.S. crude rose for the first time in five days on expectations that supply reports this week could show a decline. Brent crude, a benchmark for international oils used by many U.S. refineries, continued to fall, however. Benchmark U.S. crude rose 59 cents to close at $47.98 a barrel in New York. Brent fell 17 to close at $53.30 a barrel in London.

In other futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline fell 1.7 cents to close at $1.803 a gallon.

”” Heating oil rose 0.8 cents to close at $1.604 a gallon.

”” Natural gas rose 3.2 cents to close at $2.821 per 1,000 cubic feet.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.25 percent from 2.22 percent. The dollar rose to 123.58 Japanese yen from 123.27 yen on Monday. The euro fell to $1.1056 from $1.1087.

Precious and industrial metals futures ended mixed. Gold slipped 20 cents to $1,096.20 an ounce, silver rose four cents to $14.63 an ounce and copper gained five cents to $2.40 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	121.12	points or ▲	0.69%	on	Wednesday, 29 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,751.39	▲	121.12	▲	0.69%		
	Nasdaq____	5,111.73	▲	22.53	▲	0.44%		
	S&P_500___	2,108.57	▲	15.32	▲	0.73%		
	30_Yr_Bond____	2.99	▲	0.03	▲	0.84%		

NYSE Volume	 4,040,451,250 	 	 	 	 	  		 
Nasdaq Volume	 1,893,631,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,631.00	▲	75.72	▲	1.16%		
	DAX_____	11,211.85	▲	37.94	▲	0.34%		
	CAC_40__	5,017.44	▲	40.12	▲	0.81%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,609.60	▲	38.60	▲	0.69%		
	Shanghai_Comp	3,789.17	▲	126.17	▲	3.44%		
	Taiwan_Weight	8,563.48	▼	-19.01	▼	-0.22%		
	Nikkei_225___	20,302.91	▼	-25.98	▼	-0.13%		
	Hang_Seng.__	24,619.45	▲	115.51	▲	0.47%		
	Strait_Times.__	3,284.00	▲	2.91	▲	0.09%		
	NZX_50_Index_	5,870.77	▲	22.38	▲	0.38%		

http://finance.yahoo.com/news/stocks-end-higher-fed-keeps-201253700.html

*Stocks end higher after Fed keeps interest rates unchanged

Stocks end higher after Fed holds interest rates close to zero; Northrop jumps on earnings*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- U.S. stocks rose on Wednesday after Federal Reserve policymakers voted to keep interest rates unchanged and gave no indication that a rate rise was imminent. A modest rebound in Chinese stocks also helped push the market higher.

The Dow Jones industrial average rose 121.12 points, or 0.7 percent, to 17,751.39. The Standard & Poor's 500 index rose 15.32 points, or 0.7 percent, to 2,108.57 and the Nasdaq composite rose 22.53 points, or 0.4 percent, to 5,111.73.

The Fed said the U.S. economy continues to improve in numerous aspects, but signaled that it wants to see further economic gains and higher inflation before raising rates. Many investors expect the Fed will still lift rates in September or December, but its statement gave no timing for the raise.

Low interest rates have been good for stock investors, helping fuel a bull market that has lasted more than six years.

"Yeah, the economy is improving, but they are not really saying that the economy is taking off here," said Tom di Galoma, head of rates trading at ED&F Man Capital. "If the Fed doesn't raise rates in September, I think we're looking at some time mid next year."

There are several reasons why the Fed could stand pat on interest rates, from the recent distress in China's stock market to the falling prices of commodities this year, which will help keep a lid on inflation.

Bond investors seemed to agree with the idea that the Fed was in no rush to raise rates. Bonds rose, pushing the benchmark 10-year Treasury note traded at a yield of 2.27 compared with the nearly 2.30 percent before the Fed statement.

Investors had a second day of relative calm in the Chinese stock market. China's Shanghai Composite Index rebounded 3.4 percent to close at 3,969.40 after flitting between gains and losses for most of the day. Alarm over the sharp fall in Chinese shares has abated somewhat as the Shanghai index has steadied following Monday's 8.5 percent dive.

A strong batch of corporate earnings also helped lift the market. Gilead Sciences rose $2.64, or 2.3 percent, to $115.71. The company's profits jumped 23 percent from a year ago, helped by its new blockbuster hepatitis C medicine Harvoni. The company also raised its 2015 forecasts.

Northrop Grumman led defense companies higher after it posted a stronger-than-expected profit in the second quarter and raised its outlook for the year. Northrop's stock jumped $10.10, or 6.2 percent, to $173.44, its biggest one-day gain in at least five years.

In other markets, the price of U.S. crude rose Wednesday after the government reported a surprise drop in oil inventories and oil production. Benchmark U.S. crude rose 81 cents to close at $48.79 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 8 cents to close at $53.38 in London.

In other futures trading on the NYMEX, wholesale gasoline rose 1.9 cents to close at $1.822 a gallon. Heating oil fell 0.6 cent to close at $1.598 a gallon. Natural gas rose 6.5 cents to close at $2.886 per 1,000 cubic feet.

The euro fell to $1.0989 from $1.1068. The dollar rose to 123.94 Japanese yen from 123.57 yen.

Precious and industrial metals futures ended mixed. Gold fell $3.60 to $1,092.60 an ounce, silver rose 10 cents to $14.73 an ounce and copper edged up less than a penny to $2.41 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-5.41	points or ▼	-0.03%	on	Thursday, 30 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,745.98	▼	-5.41	▼	-0.03%		
	Nasdaq____	5,128.79	▲	17.05	▲	0.33%		
	S&P_500___	2,108.63	▲	0.06	▲	0.00%		
	30_Yr_Bond____	2.95	▼	-0.03	▼	-1.14%		

NYSE Volume	 3,578,767,250 	 	 	 	 	  		 
Nasdaq Volume	 1,898,620,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,668.87	▲	37.87	▲	0.57%		
	DAX_____	11,257.15	▲	45.30	▲	0.40%		
	CAC_40__	5,046.42	▲	28.98	▲	0.58%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,653.10	▲	43.50	▲	0.78%		
	Shanghai_Comp	3,705.77	▼	-83.40	▼	-2.20%		
	Taiwan_Weight	8,651.49	▲	88.01	▲	1.03%		
	Nikkei_225___	20,522.83	▼	219.92	▼	1.08%		
	Hang_Seng.__	24,497.98	▼	-121.47	▼	-0.49%		
	Strait_Times.__	3,249.52	▼	-34.48	▼	-1.05%		
	NZX_50_Index_	5,891.85	▲	21.08	▲	0.36%		

http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*US stocks eke out tiny gains after erasing an early loss

US stocks erase and early loss and close with tiny gains; earnings news mostly disappoints*
Associated Press By Ken Sweet, AP Business Writer
NEW YORK (AP) -- Stocks ended the day mostly flat on Thursday, recovering from broad losses earlier in the day. Investors continue to focus on corporate earnings, and Thursday's batch brought mostly disappointing results from Procter & Gamble, Facebook and others.

The Dow Jones industrial average lost 5.41 points, less than 0.1 percent, to end at 17,745.98. The index had been down 110 points at the beginning of the day.

The Standard & Poor's 500 index closed effectively unchanged, up 0.06 of a point at 2,108.63. The Nasdaq composite rose 17.05 points, or 0.3 percent, to 5,128.78.

Several companies made big moves after reporting their quarterly results. This is the busiest week for corporate earnings, with 174 members of the S&P 500 reporting.

Consumer products giant Procter & Gamble fell $3.23, or 4 percent, to $77.39. The maker of Tide detergent and Gillette razors reported softer sales than Wall Street analysts had expected. The company, like many others, has been negatively affected by the strong dollar, which makes U.S. products more expensive abroad.

Whole Foods plunged $4.74, or 12 percent, to $36.08. The company reported a sharp slowdown in sales growth last quarter, partially hurt by the recent news that some Whole Foods locations in New York City were overcharging customers.

Facebook fell $1.78, or 1.8 percent, to $95.21 after the company's results, while positive overall, included a sharp 82 percent jump in expenses as the company invested in growth. Facebook's stock hit an all-time high on July 21.

Many U.S. companies reporting second-quarter earnings have struggled to increase sales despite modest growth in the U.S. and elsewhere. That was evident Thursday in the results reported by P&G and Whole Foods.

FactSet estimates that revenue at companies in the S&P 500 has decreased 4 percent from a year ago, largely due to weakness in the energy sector. Even when energy is excluded, revenue is still up only 1.8 percent from the same period a year earlier.

"It's really a reflection of how lackluster this economic growth has been," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago. "Profits can be manipulated by cutting costs, buying back shares, but your top line is your top line and if you aren't growing sales, it's very hard to mask that."

Investors had one batch of economic data to work through. The U.S. economy grew at a 2.3 percent annual rate in the April-June quarter, rebounding from a harsh winter. Leading the growth was a surge in consumer spending, the backbone of the U.S. economy, and a recovery in foreign trade. While positive, the data looks at the U.S. economy three months ago and did little to boost stocks.

In other markets, the price of oil resumed its slide after two days of gains. Benchmark U.S. crude fell 27 cents to close at $48.52 a barrel in New York. Crude is down nearly $11 a barrel, or 18 percent, for the month. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 7 cents to close at $53.31 a barrel in London.

In other futures trading on the NYMEX, wholesale gasoline rose 0.6 cents to close at $1.828 a gallon. Heating oil closed unchanged at $1.598 a gallon. Natural gas fell 11.8 cents to close at $2.768 per 1,000 cubic feet.

The dollar rose 0.4 percent to 124.34 yen and the euro edged down 0.6 percent to $1.0903.

Precious and industrial metals futures ended mostly lower. Gold lost $4.60 to settle at $1,088.70 an ounce, silver gave up five cents to settle at $14.70 an ounce and copper fell three cents to $2.38 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-56.12	points or ▼	-0.32%	on	Friday, 31 July 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,689.86	▼	-56.12	▼	-0.32%		
	Nasdaq____	5,128.28	▼	-0.50	▼	-0.01%		
	S&P_500___	2,103.84	▼	-4.79	▼	-0.23%		
	30_Yr_Bond____	2.93	▼	-0.03	▼	-0.91%		

NYSE Volume	 3,684,458,500 	 	 	 	 	  		 
Nasdaq Volume	 1,899,807,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,696.28	▲	27.41	▲	0.41%		
	DAX_____	11,308.99	▲	51.84	▲	0.46%		
	CAC_40__	5,082.61	▲	36.19	▲	0.72%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,681.70	▲	28.60	▲	0.51%		
	Shanghai_Comp	3,663.73	▼	-42.04	▼	-1.13%		
	Taiwan_Weight	8,665.34	▲	13.85	▲	0.16%		
	Nikkei_225___	20,585.24	▲	62.41	▲	0.30%		
	Hang_Seng.__	24,636.28	▲	138.30	▲	0.56%		
	Strait_Times.__	3,202.50	▼	-47.02	▼	-1.45%		
	NZX_50_Index_	5,920.96	▲	29.11	▲	0.49%		

http://finance.yahoo.com/news/us-stocks-end-lower-energy-201105516.html

*US stocks end lower as energy stocks slump on earnings

US stocks end lower as Exxon and Chevron slump on earnings; Oil falls sharply again*
Associated Press By Ken Sweet, AP Business Writer
NEW YORK (AP) -- Stocks closed modestly lower Friday as oil titans Exxon Mobil and Chevron led a slump in energy stocks.

The Dow Jones industrial average lost 56.12 points, or 0.3 percent, to 17,689.86. The Standard & Poor's 500 index lost 4.71 points, or 0.2 percent, to 2,103.92. The Nasdaq composite closed little changed, down half a point to 5,128.28.

It's was a see-saw week for the market, but all three major indexes closed higher by roughly 1 percent.

Shares of Exxon Mobil and Chevron, the two largest publicly traded energy companies, fell roughly 5 percent each on Friday. Both companies posted major declines in their year-over-year profits largely due to the big drop in the price of oil.

In the case of Exxon, earnings fell 52 percent from a year earlier, causing the company to report its lowest quarterly profit since June 2009. Exxon shares fell $3.80, or 4.6 percent, to $79.21.

Chevron, hurt by low oil prices and a write-off of some of its assets, reported its lowest profit in 13 years. The company reported a profit of 30 cents a share, well below the $1.13 analysts expected. Chevron fell $4.55, or 4.9 percent, to $88.48.

Exxon and Chevron dragged down other energy stocks. The S&P 500 energy sector slumped 2.6 percent, its biggest drop since January.

Energy companies have been a major drag on corporate earnings in the second quarter. S&P 500 companies are on track for a 1.3 percent year-over-year decline in earnings, according to FactSet. If energy were excluded, corporate profits would be up 5.4 percent.

Even with oil prices down more than 50 percent from a year ago, crude has continued to fall. Oil prices declined sharply again Friday on continuing concerns over high global supplies and weak demand, helping push oil down 21 percent for the month.

Benchmark U.S. crude fell $1.40 to close at $47.12 a barrel in New York. Crude fell $12.35 a barrel during the month, from $59.47 at the end of June. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.10 to close at $52.21 in London.

A disappointing economic report also weighed on stocks.

U.S. wages and benefits grew at their slowest pace in 33 years in the spring, the Labor Department said, stark evidence that the improving job market is having little impact on paychecks for most Americans. The slowdown likely reflects a sharp drop-off in bonus and incentive pay for some workers.

The lackluster wage growth suggests that companies are still able to find the workers they need without boosting pay, a sign the job market is not yet back to full health. That could cause the Federal Reserve hold of any increase in interest rates.

Bond prices rose after the report, pushing the 10-year U.S. Treasury note down to 2.19 percent from 2.26 percent on Thursday.

"I can't imagine the Fed is looking at (this data) this morning as a reason to increase rates in September," said Tom di Galoma, head of rates trading at ED&F Man Capital.

In other energy markets, wholesale gasoline rose 1.3 cents to close at $1.841 a gallon. Heating oil fell 1.4 cents to close at $1.584 a gallon. Natural gas fell 5.2 cents to close at $2.716 per 1,000 cubic feet.

In currencies, the dollar fell 0.3 percent to 123.90 yen and the euro rose 0.4 percent to $1.0985.

In metals trading, gold rose $6.50 to $1,095.90 an ounce and silver rose 5 cents to $14.75 an ounce. Copper fell 1 cent to $2.43 per pound.

1430


----------



## Logique

US market anticipating the interest rate rise?  Not so hot technically. Certainly gold is going nowhere.

Uncomfortably close to a Death Cross on daily EMA.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-91.66	points or ▼	-0.52%	on	Monday, 3 August 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,598.20	▼	-91.66	▼	-0.52%		
	Nasdaq____	5,115.38	▼	-12.90	▼	-0.25%		
	S&P_500___	2,098.04	▼	-5.80	▼	-0.28%		
	30_Yr_Bond____	2.86	▼	-0.07	▼	-2.25%		

NYSE Volume	 3,475,933,500 	 	 	 	 	  		 
Nasdaq Volume	 1,779,418,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,688.62	▼	-7.66	▼	-0.11%		
	DAX_____	11,443.72	▲	134.73	▲	1.19%		
	CAC_40__	5,120.52	▲	37.91	▲	0.75%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,664.30	▼	-17.40	▼	-0.31%		
	Shanghai_Comp	3,622.91	▼	-40.82	▼	-1.11%		
	Taiwan_Weight	8,524.41	▼	-140.93	▼	-1.63%		
	Nikkei_225___	20,548.11	▼	-37.13	▼	-0.18%		
	Hang_Seng.__	24,411.42	▼	-224.86	▼	-0.91%		
	Strait_Times.__	3,192.79	▼	-9.71	▼	-0.30%		
	NZX_50_Index_	5,957.85	▲	36.89	▲	0.62%		

http://finance.yahoo.com/news/us-stocks-drop-led-another-205044022.html
*
US stocks drop, led by another fall in the energy sector

Energy stocks slump, leading broader US market lower; Tyson Foods drops after cutting outlook*
Associated Press By Steve Rothwell, AP Business Writer

NEW YORK (AP) -- Another bad day for the energy sector pulled down stocks on Monday.

Energy stocks slumped as the price of oil dropped to its lowest in more than four months. Oil has fallen sharply since the end of June on evidence that a global supply glut is building at the same time demand appears to be slowing.

The energy sector is down 15 percent this year, making it easily the worst performing industry group in the S&P 500 index. Earnings at energy companies have dropped almost 60 percent in the second quarter.

"Certainly, oil production has been strong globally," said Serena Vinton, a portfolio manager at Franklin Templeton. "And with some of the global economic concerns and strong global production, it creates a nervous environment for oil."

The Standard & Poor's 500 index dropped 5.80 points, or 0.3 percent, to 2,098.04. The Dow Jones industrial average fell 91.66 points, or 0.5 percent, to 17,598.20. The Nasdaq composite slipped 12.90 points, or 0.3 percent, to 5,115.38.

Benchmark U.S. crude fell $1.95, or 4.1 percent, to close at $45.17 a barrel in New York. U.S. crude has been sliding since reaching a high this year of $61.43 a barrel on June 10.

Overall, stocks have been in the doldrums since the S&P 500 closed at an all-time high of 2,130 on May 21. Short sell-offs have been followed by short rallies as investors have weighed signs of an improving U.S. economy against signs of weakening growth overseas.

Among individual stocks, Tyson Foods was the biggest loser in the S&P 500 index Monday. The meat producer slumped $4.39, or 9.9 percent, to $39.96 after cutting its outlook for fiscal 2015 earnings.

The company, which owns the Jimmy Dean breakfast sausage brand, blamed conditions in the beef market for its woes, citing high cattle costs and "export issues" as factors that were hurting its profits.

Michael Kors was another big loser, dropping $3.28, or 7.8 percent, to $38.71 amid concern that demand for the luxury fashion retailer's handbags is dropping off. Analysts at investment bank Canaccord cut their price target on the stock ahead of the company's latest earnings report due out Thursday.

In Europe, Greece's stock market sank 16 percent as it reopened from a month-long shutdown brought on by the near collapse of the country's financial system during its high-wire bailout negotiations.

Two surveys published Monday showed the damage caused to the Greek economy in July by the bank closures, money controls and uncertainty over the country's future.

A gauge of manufacturing in Greece plummeted in July to the lowest reading ever recorded, despite improvements across the rest of the 19-country eurozone. A separate survey showed that business and consumer confidence fell for a fifth consecutive month in July to its worst level since October 2012.

"The fundamentals of the country are still so weak and so uncertain," Jorge Mariscal, regional chief investment officer for emerging markets at UBS Wealth Management. "Clearly, the market is trading these assets as what they are, distressed assets."

Even after reaching the basis of a deal with its creditors, Greece still has to demonstrate that it can deliver on its pledges for reform, he said.

Investors also got an update on how the U.S. economy is doing.

U.S. factories were a little less busy last month. The Institute of Purchasing Managers' manufacturing index slipped to 52.7 from 53.5 in June. Economists had expected the index to remain unchanged. Any reading above 50 indicates growth.

Investors are following this month's economic reports closely to see if the economy is strengthening sufficiently for the Federal Reserve to raise interest rates later this year.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-47.51	points or ▼	-0.27%	on	Tuesday, 4 August 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,550.69	▼	-47.51	▼	-0.27%		
	Nasdaq____	5,105.55	▼	-9.84	▼	-0.19%		
	S&P_500___	2,093.32	▼	-4.72	▼	-0.22%		
	30_Yr_Bond____	2.89	▲	0.03	▲	0.91%		

NYSE Volume	 3,546,065,250 	 	 	 	 	  		 
Nasdaq Volume	 1,814,809,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,686.57	▼	-2.05	▼	-0.03%		
	DAX_____	11,456.07	▲	12.35	▲	0.11%		
	CAC_40__	5,112.14	▼	-8.38	▼	-0.16%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,681.90	▲	17.60	▲	0.31%		
	Shanghai_Comp	3,756.54	▲	133.64	▲	3.69%		
	Taiwan_Weight	8,510.86	▼	-13.55	▼	-0.16%		
	Nikkei_225___	20,520.36	▼	-27.75	▼	-0.14%		
	Hang_Seng.__	24,406.12	▼	-5.30	▼	-0.02%		
	Strait_Times.__	3,191.04	▼	-1.75	▼	-0.05%		
	NZX_50_Index_	5,933.75	▼	-24.10	▼	-0.40%		

http://finance.yahoo.com/news/us-stocks-move-lower-earnings-192947659.html

*US stocks move lower as earnings disappoint; Allstate slumps

US stocks move mostly lower as traders assess earnings; Allstate slumps on weak results*
Associated Press By Steve Rothwell, AP Business Writer

NEW YORK (AP) -- U.S. stocks fell for a third straight day Tuesday as investors assessed some disappointing earnings reports.

Allstate slumped to its biggest loss in more than five years after reporting a drop in profits that was worse than Wall Street analysts had been expecting. NRG Energy was another company that disappointed investors, reporting a loss, when analysts had been expecting a small profit.

Stocks have been trading in a tight range for several weeks as investors wait to see if the economy strengthens sufficiently for the Federal Reserve to raise its benchmark interest rate for the first time in more than nine years. Investors shouldn't make the mistake though of thinking that the market is in a summer slumber, said Kate Warne, an investment strategist at brokerage Edward Jones.

While energy stocks have plunged in response to falling oil prices, she noted, health care stocks are having another banner year.

"Stocks haven't moved any place, but it's because there's been an equal mix of gainers and losers," says Jones. "What we're seeing is a back-and-forth market, not a doldrums market."

The Standard & Poor's 500 index dropped 4.72 points, or 0.2 percent, to 2,093.32. The Dow Jones industrial average dropped 47.51 points, or 0.3 percent, to 17,550.69. The Nasdaq composite fell 9.84 points, or 0.2 percent, to 5,105.55.

Allstate was among the biggest decliners in the S&P 500. The insurer dropped $7.04, or 10 percent, to $62.34 after reporting earnings that fell significantly short of analysts' expectations. The company said its earnings dropped because of more frequent and more severe auto accidents.

NRG Energy dropped $2.23, or 10 percent, to $20.04.

A slump in Apple's stock also weighed on the market.

Apple dropped for a fifth straight day after falling below a closely followed level that traders use to gauge the momentum of a stock. The iPhone maker closed down $3.80 at $114.64 and has dropped 14 percent since closing at a record $133 on Feb. 23. That puts Apple in a correction, Wall Street parlance for price declines of 10 percent or more from a peak.

Almost 80 percent of the companies in the S&P 500 have now reported their second-quarter earnings, and average earnings for companies in the index are set to fall 0.2 percent. If earnings do end lower the quarter lower, once all companies have reported, it would be the first quarter in almost six years that corporations have failed to grow their profits.

Still, many analysts are predicting that earnings will recover in the second half of the year as the economy strengthens.

"This is an earnings stall, not an earnings decline," said Jeremy Zirin, head of investment strategy at UBS Wealth Management.

In energy trading, the price of oil rose Tuesday, partially reversing Monday's steep drop. U.S. crude rose 57 cents to close at $45.74 a barrel in New York, regaining some of the $1.95 it lost Monday. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 47 cents to close at $49.99 in London.

Despite Tuesday's rebound in oil prices it is likely still too early to consider investing in oil stocks, said Anastasia Amoroso, a global market strategist at JPMorgan Funds. That's because they still haven't been able to adjust to the sharp drop in oil prices that started about a year ago.

"As much as oil companies are attempting to cut costs they cannot keep up with the drop in revenues," said Amoroso. "For me, you need to see some further cost cutting by the energy companies."

In bond trading, prices fell after the Wall Street Journal reported that Federal Reserve Bank of Atlanta Dennis Lockhart said in interview that the economy was ready for its first rate increase in more than nine years.

The yield on the 10-year Treasury note climbed to 2.22 percent from 2.15 percent the day before. The comments also gave a boost to the dollar. The dollar rose to 124.33 yen and the euro fell to $1.0889.

In metals trading, gold edged up $1.30 to $1,090.70 an ounce, silver rose four cents to $14.56 an ounce and copper increased two cents to $2.36 a pound.

In other energy futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline rose 1 cent to close at $1.685 a gallon.

”” Heating oil rose 1.7 cents to close at $1.548 a gallon.

”” Natural gas rose 6.4 cents to close at $2.812 per 1,000 cubic feet.

    


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-10.22	points or ▼	-0.06%	on	Wednesday, 5 August 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,540.47	▼	-10.22	▼	-0.06%		
	Nasdaq____	5,139.94	▲	34.40	▲	0.67%		
	S&P_500___	2,099.84	▲	6.52	▲	0.31%		
	30_Yr_Bond____	2.94	▲	0.06	▲	1.94%		

NYSE Volume	 2,429,512,250 	 	 	 	 	  		 
Nasdaq Volume	 1,314,477,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,752.41	▲	65.84	▲	0.98%		
	DAX_____	11,636.30	▲	180.23	▲	1.57%		
	CAC_40__	5,196.73	▲	84.59	▲	1.65%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,659.50	▼	-22.40	▼	-0.39%		
	Shanghai_Comp	3,694.57	▼	-61.97	▼	-1.65%		
	Taiwan_Weight	8,542.27	▲	31.41	▲	0.37%		
	Nikkei_225___	20,614.06	▲	93.70	▲	0.46%		
	Hang_Seng.__	24,514.16	▲	108.04	▲	0.44%		
	Strait_Times.__	3,191.39	▲	0.35	▲	0.01%		
	NZX_50_Index_	5,938.51	▲	4.76	▲	0.08%		

http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*US stocks eke out gains following solid earnings news

Better earnings drive US stocks to modest gains, but energy sector slumps along with oil*
Associated Press By Mathew Craft, AP Business Writer

NEW YORK (AP) -- The latest batch of corporate results helped nudge the stock market to a slight gain Wednesday, snapping a three-day slump. Another drop in oil prices held indexes back.

First Solar soared 17 percent, the biggest gain in the S&P 500, following news that the country's largest solar company turned in results that beat estimates and also raised its outlook for full-year profits. First Solar's stock jumped $7.42 to $51.92.

Better corporate earnings have helped support the stock market over the past month. Heading into the second-quarter earnings season last month, investors were braced for a sharp drop in profits. But now, with the bulk of results turned in, earnings are on track to slip just 0.2 percent, according to S&P Capital IQ.

"The expectations were that things would be terrible," said Brad McMillan, the chief investment officer for the Commonwealth Financial Network. "And while they're not great, they're certainly better than expected."

The Standard & Poor's 500 index gained 6.52 points, or 0.3 percent, to close at 2,099.84.

The Dow Jones industrial average lost 10.22 points, or 0.1 percent, to 17,540.47, while the Nasdaq composite rose 34.40 points, or 0.7 percent, to 5,139.94.

The market has looked listless in recent weeks as investors have traded one set of concerns for another. Worries about Greece have faded, said Burt White, the chief investment officer at LPL Financial. But concerns about China's economy and the Federal Reserve's next interest-rate increase remain. "I don't think the economy has a confidence problem," White said. "I think investors are having a confidence issue here."

Among other companies reporting quarterly results, Walt Disney dropped 9 percent, weighing on the Dow, after posting sales that fell short of estimates. The company also said a decrease in subscribers to ESPN could hamper its profit in the coming years. Disney's stock lost $11.16 to $110.53.

Priceline Group climbed 5 percent after the online-booking service posted profit and revenue that easily beat analysts' forecasts, helped by rising reservations for hotel rooms and rental cars. Its stock gained $67.22 to $1,351.21.

In Europe, an encouraging economic survey along with improving corporate earnings helped push major markets up. Germany's DAX surged 1.6 percent, France's CAC 40 gained 1.7 percent, and Britain's FTSE 100 added 1 percent.

In China, the Shanghai Composite Index slid 1.6 percent, while Hong Kong's Hang Seng gained 0.5 percent. Japan's Nikkei 225 rose 0.5 percent, South Korea's Kospi added 0.1 percent, while Australia's S&P/ASX 200 dropped 0.4 percent.

Back in the U.S., government bond prices fell, sending the yield on the 10-year Treasury note up to 2.27 percent from 2.22 percent.

Most precious and industrial metals finished with losses. Gold lost $5.10 to settle at $1,085.60 an ounce while silver was flat at $14.55 an ounce. Copper lost a penny to $2.35 a pound.

The price of oil turned lower after the Energy Department reported an increase in gasoline inventories. U.S. crude fell 59 cents to close at $45.15 a barrel on the New York Mercantile Exchange, hitting its lowest price since March. Brent crude, an international benchmark, fell 40 cents to close at $49.59 in London.

In other trading on the New York Mercantile Exchange:

— Wholesale gasoline fell 1.4 cents to close at $1.671 a gallon.

— Heating oil fell 0.9 cents to close at $1.539 a gallon.

— Natural gas fell 1.4 cents to close at $2.798 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-120.72	points or ▼	-0.69%	on	Thursday, 6 August 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,419.75	▼	-120.72	▼	-0.69%		
	Nasdaq____	5,056.44	▼	-83.50	▼	-1.62%		
	S&P_500___	2,083.56	▼	-16.28	▼	-0.78%		
	30_Yr_Bond____	2.91	▼	-0.04	▼	-1.22%		

NYSE Volume	 4,248,628,000 	 	 	 	 	  		 
Nasdaq Volume	 2,246,570,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,747.09	▼	-5.32	▼	-0.08%		
	DAX_____	11,585.10	▼	-51.20	▼	-0.44%		
	CAC_40__	5,192.11	▼	-4.62	▼	-0.09%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,600.10	▼	-59.40	▼	-1.05%		
	Shanghai_Comp	3,661.54	▼	-33.03	▼	-0.89%		
	Taiwan_Weight	8,449.56	▼	-92.71	▼	-1.09%		
	Nikkei_225___	20,664.44	▲	50.38	▲	0.24%		
	Hang_Seng.__	24,375.28	▼	-138.88	▼	-0.57%		
	Strait_Times.__	3,196.66	▲	5.27	▲	0.17%		
	NZX_50_Index_	5,928.69	▼	-9.82	▼	-0.17%		

http://finance.yahoo.com/news/media...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Media companies lead a broad decline in US stocks

Viacom, other media stocks sink as traders worry about fading cable TV revenue; Keurig plunges*
Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Big media companies led the stock market lower Thursday as investors fretted over fading revenue from cable television. Viacom and 21st Century Fox were among the hardest hit.

Major indexes headed higher in the first few minutes of trading before pulling a quick U-turn. The selling gained momentum until the afternoon, when the indexes recovered some of their losses.

Walt Disney and other media giants sank following signs that more people are cancelling their cable TV. Viacom, the company behind Comedy Central and Nickelodeon, reported Thursday that its sales and profit fell in the most recent quarter. 21st Century Fox, which owns MTV, also reported a drop in television revenue. Viacom's stock plunged 14 percent, and 21st Century Fox lost 6 percent.

"You don't usually see media names move like this," said Rob Eschweiler, a global investment specialist at J.P. Morgan Private Bank in Houston.

The Standard & Poor's 500 index fell 16.28 points, or 0.8 percent, to 2,083.56, and the Nasdaq composite lost 83.50, or 1.6 percent, to 5,056.44. The Dow Jones industrial average lost 120.72, or 0.7 percent, to 17,419.75, the sixth day in a row the Dow has finished with a loss.

Over the past month, the market has been in the habit of making gains one week and losing them all the next. "We've been moving nowhere fast," said Terry Sandven, senior equity strategist at U.S. Bank Wealth Management in Minneapolis. "The market just lacks any direction."

Sandven said he thinks things will change once investors get a clear picture of how quickly the Federal Reserve will raise interest rates for the first time in more than nine years. He's hoping the Fed will make its first move in September.

"It will mean that the Fed thinks the economy is strong enough to handle something other than crisis-level rates," Sandven said.

Among other companies in the news, Keurig Green Mountain plummeted 30 percent, the biggest drop in the S&P 500, after reporting falling sales of its packaged coffee and brewing products. The company said it plans to lay off 5 percent of its workforce in a bid to cut costs. Its stock dropped $22.31 to $52.67.

With the bulk of big companies already handing in results, analysts project that second-quarter earnings at big U.S. companies edged up 0.2 percent, according to S&P Capital IQ. Though meager, it's much better than the 4 percent drop analysts had forecast a month ago.

Investors are looking ahead to the Labor Department's monthly jobs report on Friday. Economists forecast the government report will show employers added 225,000 jobs and the unemployment rate held at 5.3 percent for the second straight month. That level of job creation would buttress expectations that the Fed will lift its benchmark interest rate later this year.

"I think if the Fed doesn't move this year it's going to be a disappointment," Eschweiler said. "It would be a bit of a head scratcher: What do they know that we don't?"

Major markets in Europe ended with slight losses. Germany's DAX lost 0.4 percent, while both France's CAC 40 and Britain's FTSE 100 slipped 0.1 percent.

In Asia, Japan's benchmark Nikkei 225 inched up 0.2 percent while South Korea's Kospi lost 0.8 percent. Hong Kong's Hang Seng fell 0.6 percent and the Shanghai Composite fell 0.9 percent. Benchmarks in Taiwan, Indonesia, the Philippines and New Zealand also finished lower.

Back in the U.S., government bond prices rose, pushing the yield on the 10-year Treasury note down to 2.22 percent from 2.27 percent the day before.

In commodity trading, gold rose $4.50 to settle at $1,090.10 an ounce, and silver gained 12 cents to $14.68. Copper lost a penny to $2.34 a pound.

The price of oil fell near its low for the year as a Goldman Sachs report predicting that oil prices would be "lower for longer" reinforced concerns that have driven oil lower over the past six weeks. U.S. crude fell 49 cents to close at $44.66 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 7 cents to close at $49.52 in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 2.3 cents to close at $1.648 a gallon.

”” Heating oil rose 1.1 cents to close at $1.550 a gallon.

”” Natural gas rose 1.5 cents to close at $2.813 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-46.37	points or ▼	-0.27%	on	Friday, 7 August 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,373.38	▼	-46.37	▼	-0.27%		
	Nasdaq____	5,043.54	▼	-12.90	▼	-0.26%		
	S&P_500___	2,077.57	▼	-5.99	▼	-0.29%		
	30_Yr_Bond____	2.83	▼	-0.08	▼	-2.72%		

NYSE Volume	 3,599,693,250 	 	 	 	 	  		 
Nasdaq Volume	 1,988,408,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,718.49	▼	-28.60	▼	-0.42%		
	DAX_____	11,490.83	▼	-94.27	▼	-0.81%		
	CAC_40__	5,154.75	▼	-37.36	▼	-0.72%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,472.30	▼	-127.80	▼	-2.28%		
	Shanghai_Comp	3,744.20	▲	82.67	▲	2.26%		
	Taiwan_Weight	8,442.29	▼	-7.27	▼	-0.09%		
	Nikkei_225___	20,724.56	▲	60.12	▲	0.29%		
	Hang_Seng.__	24,552.47	▲	177.19	▲	0.73%		
	Strait_Times.__	3,196.66	▲	0.00	▲	0.00%		
	NZX_50_Index_	5,868.66	▼	-60.03	▼	-1.01%		

http://finance.yahoo.com/news/us-stocks-drop-solid-jobs-200736154.html

*US stocks drop after solid jobs report suggests higher rates

US stocks drop as solid jobs report keeps alive the prospect of higher rates this year*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- U.S. stocks fell Friday after a solid jobs report kept alive the possibly that the Federal Reserve may raise interest rates as soon as next month.

It was the seventh straight day of declines for the Dow Jones industrial average. That's the longest losing streak for the index since July 2011, when investors were worried that the U.S. would slip back into recession.

Stocks started the day lower after the report was released and stayed there throughout the day. Fed policy makers have held rates at close to zero for more than six years to stimulate the economy after the Great Recession. The low rates have been good for the stock market, helping fuel a bull-market run that has lasted since March, 2009.

U.S. employers added 215,000 jobs in July, the Labor Department said Friday, another signal that the job market is steadily improving and providing another key piece of data for the Fed as it assesses whether the U.S. economy can withstand higher interest rates.

While the number was slightly below the 225,000 jobs Wall Street economists were forecasting, traders said the data was still good enough to show that the U.S. economy is continuing to improve.

"Today's number was not weak enough to dissuade the Fed," said Jurrien Timmer, director of global macro at Fidelity Investments, who predicts that the Fed will raise rates for the first time since 2006 in September.

The Dow lost 46.37 points, or 0.3 percent, to 17,373.38. The index is now down 2.5 percent for the year, and is about 5 percent below its record close of 18,312.39 set May 19.

The Standard & Poor's 500 index fell 5.99 points, or 0.3 percent, to 2,077.57 and the Nasdaq composite fell 12.90 points, or 0.3 percent, to 5,043.54.

Among individual stocks, American Express was a big mover.

The credit card company jumped $4.72, or 6.3 percent, to $79.72 after Bloomberg reported that activist investors ValueAct Capital Management had amassed a $1 billion stake in the company and would press for changes there that would benefit investors.

In bond trading, yields on two- and three-year Treasury notes rose immediately after the jobs report was published.

The yield on the two-year note climbed to 0.72 percent from 0.69 percent on Thursday. It was as low as 0.41 percent in January. Shorter-dated Treasuries would be most affected by the Fed raising rates.

The yield on the 10-year Treasury note fell to 2.17 percent from 2.23 percent a day earlier.

In currency trading, the dollar fell against the euro and the yen. The euro rose to 1.096 and the dollar dropped to 124.23 yen.

In other markets, the price of oil fell for the sixth trading day out of the last seven as the number of rigs operating in the U.S. rose, reinforcing expectations that a global supply glut will persist.

U.S. crude fell 79 cents to close at $43.87 a barrel in New York, nearing a six-year low of $43.46 set on March 17. For the week, crude fell 7 percent. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 91 cents Friday to close at $48.61 in London.

The slump in crude helped push energy stocks lower again. The sector is down 16 percent this year, making it the worst performer in the S&P 500.

In other energy futures trading, wholesale gasoline fell 2.5 cents to close at $1.623 a gallon. Heating oil fell 0.6 cents to close at $1.544 a gallon. Natural gas fell 1.5 cents to close at $2.798 per 1,000 cubic feet.

In metals trading, the price of gold rose $4 to $1,094.10 an ounce. Silver climbed 14.4 cents to $14.82 an ounce. Copper fell 0.8 cents to $2.33 a pound.

2189


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	241.79	points or ▲	1.39%	on	Monday, 10 August 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,615.17	▲	241.79	▲	1.39%		
	Nasdaq____	5,101.80	▲	58.25	▲	1.16%		
	S&P_500___	2,104.18	▲	26.61	▲	1.28%		
	30_Yr_Bond____	2.90	▲	0.08	▲	2.65%		

NYSE Volume	 3,517,299,750 	 	 	 	 	  		 
Nasdaq Volume	 1,765,535,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,736.22	▲	17.73	▲	0.26%		
	DAX_____	11,604.78	▲	113.95	▲	0.99%		
	CAC_40__	5,195.41	▲	40.66	▲	0.79%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,504.90	▲	32.60	▲	0.60%		
	Shanghai_Comp	3,928.42	▲	184.21	▲	4.92%		
	Taiwan_Weight	8,466.84	▲	24.55	▲	0.29%		
	Nikkei_225___	20,808.69	▲	84.13	▲	0.41%		
	Hang_Seng.__	24,521.12	▼	-31.35	▼	-0.13%		
	Strait_Times.__	3,196.66	▲	0.00	▲	0.00%		
	NZX_50_Index_	5,865.02	▼	-3.64	▼	-0.06%		

http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*US stocks jump as oil's bounce boosts energy stocks

US stocks jump, led by resurgent energy stocks; Precision Castparts soars on Buffett deal*
Associated Press By Steve Rothwell, AP Business Writer

NEW YORK (AP) -- A resurgent energy sector and another big acquisition by Warren Buffett propelled the stock market to its best day in three months on Monday.

Energy stocks jumped, following the price of oil higher. Crude rebounded after dropping to its lowest level of the year in early trading. Industrial stocks also climbed sharply after Buffett's Berkshire Hathaway agreed to buy Precision Castparts, a maker of industrial components, for $32 billion.

The pace of corporate deal making has been surging this year as borrowing costs have stayed low, making it easier for companies to fund acquisitions. That tends to push up stock prices because buyers typically pay a premium to make the deal attractive to shareholders.

"Any time you have mergers and acquisitions, especially of this size, that's a good sign because corporate America is feeling good about the economic prospects," said Peter Cardillo, chief market economist at Rockwell Global Capital.

The Standard & Poor's 500 index rose 26.61 points, or 1.3 percent, to 2,104.18. It was the biggest gain for the index since May 8.

The Dow Jones industrial average rose 241.79 points, or 1.4 percent, to 17,615.17. The Nasdaq composite climbed 58.25 points, or 1.2 percent, to 5,101.80.

The gains also ended a seven-day losing streak for the Dow Jones industrial average, its longest run of losses in four years. Some mixed earnings reports and the slump in oil have weighed on the 30-member index in the past three weeks.

Some investors are also anticipating that the Federal Reserve may raise interest rates next month. That's unnerving for them because rates close to zero have been a major factor in driving a bull-market in stocks that has lasted for more than six years.

Precision Castparts was the biggest gainer in the S&P 500. The stock jumped $37.04, or 19 percent, to $230.92. Berkshire will pay $235 per share in cash for Precision Castparts' outstanding stock. The deal is valued at about $37.2 billion including debt.

Energy stocks were also among the biggest gainers as oil rose, rebounding from heavy losses last week. The sector jumped 3 percent as companies including Exxon Mobil and Chevron climbed.

The price of oil posted a strong gain after briefly dipping below its lowest close for the year. U.S. crude climbed $1.09 to close at $44.96 a barrel in New York. Early Monday oil dipped a penny below its $43.46 March 17 close, its lowest in six years. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $1.80 to close at $50.41 in London.

Despite Monday's rebound, oil is still down almost 60 percent from its peak last year.

About 90 percent of the companies in the S&P 500 have reported their second-quarter results, and average earnings for companies in the index are flat for the period. However, that's masking a big slump in energy company earnings. If the energy sector is excluded, profits rose 7.7 percent, according to S&P Capital IQ data.

That's a good sign for some investors.

"Once you start digging into the numbers the only sector that is really messing things up is energy," said Brad McMillan, Chief Investment Officer for Commonwealth Financial Network. "Everything else is doing pretty well."

Twitter was another beaten-up stock that had a good day on Monday.

The social media company got a lift after the company signed a two-year content and advertising deal with the National Football League. Also, interim CEO and co-founder Jack Dorsey increased his stake in the embattled social media company.

Twitter, which has fallen sharply this year as its growth has disappointed investors, jumped $2.46, or 9.1 percent, to $29.50.

U.S. government bond prices fell. The yield on the benchmark 10-year Treasury note climbed to 2.23 percent from 2.17 percent on Friday. The dollar rose to 124.62 yen. The euro rose to $1.1019.

The price of gold rose $10 to $1,104.10 an ounce, silver gained 47 cents to $15.29 an ounce and copper increased seven cents to $2.40 a pound.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 7.1 cents to close at $1.694 a gallon.

”” Heating oil rose 4.8 cents to close at $1.592 a gallon.

”” Natural gas rose 1.5 cents to close at $2.842 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-212.33	points or ▼	-1.21%	on	Tuesday, 11 August 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,402.84	▼	-212.33	▼	-1.21%		
	Nasdaq____	5,036.79	▼	-65.01	▼	-1.27%		
	S&P_500___	2,084.07	▼	-20.11	▼	-0.96%		
	30_Yr_Bond____	2.80	▼	-0.10	▼	-3.38%		

NYSE Volume	 3,711,294,000 	 	 	 	 	  		 
Nasdaq Volume	 1,885,242,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,664.54	▼	-71.68	▼	-1.06%		
	DAX_____	11,293.65	▼	-311.13	▼	-2.68%		
	CAC_40__	5,099.03	▼	-96.38	▼	-1.86%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,473.10	▼	-31.80	▼	-0.58%		
	Shanghai_Comp	3,927.91	▼	-0.51	▼	-0.01%		
	Taiwan_Weight	8,394.14	▼	-72.70	▼	-0.86%		
	Nikkei_225___	20,720.75	▼	-87.94	▼	-0.42%		
	Hang_Seng.__	24,498.21	▼	-22.91	▼	-0.09%		
	Strait_Times.__	3,153.06	▼	-43.60	▼	-1.36%		
	NZX_50_Index_	5,822.35	▼	-42.67	▼	-0.73%		

http://finance.yahoo.com/news/us-stocks-oil-prices-sink-134248847.html

*US stocks, oil prices sink after China currency move

US stocks fall as China currency move raises growth worries; oil plunges to six-year low*
Associated Press By Steve Rothwell, AP Business Writer

NEW YORK (AP) -- A move by China's government to devalue its currency set off a sharp sell-off in global financial markets Tuesday as investors worried about the health of the world's second-largest economy.

China's government said the move to weaken the yuan was a result of reforms intended to make its exchange rate more market-oriented. However, most investors interpreted the action as an attempt by authorities to stimulate a slowing economy. A cheaper yuan will benefit China's exports by making them less expensive overseas.

The move triggered a wave of selling. Oil, copper and other commodity prices fell as traders anticipated weaker demand from China. That led to big drops energy and materials stocks. Companies that derive a large part of their sales from China, like Apple and Yum Brands, also fell sharply.

"China is the second-largest economy in the world, and they are certainly going through a stage right now where growth is not as robust as it has been," said Michael Scanlon, a managing director at John Hancock Asset Management. "China is one of the biggest risks to the equity market as a whole."

The Standard & Poor's 500 index fell 20.11 points, or 1 percent, to 2,084.07. The Dow Jones industrial average lost 212.33 points, or 1.2 percent, to 17,402.84. The Nasdaq composite index fell 65.01 points, or 1.3 percent, to 5,036.79

The Chinese government allowed the yuan to fall 1.9 percent, the biggest one-day drop in a decade. In recent months, the yuan has strengthened along with the U.S. dollar, hurting Chinese exporters. China's exports fell by an unexpectedly large 8.3 percent in July. The yuan was valued at 6.32 per dollar on Tuesday, compared with 6.21 per dollar a day earlier.

Yum Brands, the owner of the KFC and Taco Bell chains, was among the biggest decliners in the S&P 500. The fast-food company gets more than half of its sales from China. The company said last month that it was expecting a strong second-half of the year in China. Yum fell $4.28, or 4.9 percent, to $83.54.

Apple, another company that makes a lot of money in China, dropped $6.23, or 5.2 percent, to $113.49 and Wynn Resorts, which generates more than half of its revenue from the Chinese gambling hub of Macau, slipped $2.39, or 4.3 percent, to $54.36.

The price of oil had another big drop, closing at its lowest level in six years. Oil prices also fell after OPEC said its production increased to a 3-year high, adding further evidence of a global supply glut. U.S. crude fell $1.88 to settle at $43.08 a barrel in New York, its lowest close since March of 2009. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.23 to close at $49.18 in London.

The losses for stocks on Tuesday wiped out a large part of the gains from a day earlier, when the market logged its largest advance in three months as the price of oil logged a big gain and some corporate deal news boosted investor sentiment.

Investors shouldn't be too worried by the big moves in market prices, said David Kelly, chief Global Strategist at JPMorgan Funds, because the moves were likely being exacerbated by low trading activity during the summer months.

"It's another sign of softness in the global economy and that's what is hurting the market today," Kelly said. "But I wouldn't make too much of the violent reaction because it's a rather thin market to say the least."

Google was one of the biggest gainers in the S&P 500 on Tuesday.

The tech giant gained after it announced a new structure for the company that included separating its lucrative internet business from some of its more speculative research projects. Investors welcomed the increase in transparency that will give them a better idea of how the technology giant spends its cash. Google's stock gained $27.16, or 4.1 percent, to $690.30.

Bond prices rose sharply as investors snapped up safer assets. The yield on the 10-year Treasury note, which moves in the opposite direction to its price, fell to 2.14 percent from 2.23 percent on Monday.

The dollar rose to 125.18 yen from 124.82 yen Monday. The euro rose to $1.1047 from $1.1021.

European markets were mostly lower. France's CAC-40 fell 1.9 percent, and Germany's DAX lost 2.7 percent. Britain's FTSE 100 shed 1.1 percent.

Gold climbed $3.60 to $1,107.70 an ounce and silver was little changed at $15.28 an ounce. Copper dropped 6.9 cents to $2.33 per pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	-0.33	points or ▲	0.00%	on	Wednesday, 12 August 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,402.51	▼	-0.33	▲	0.00%		
	Nasdaq____	5,044.39	▲	7.60	▲	0.15%		
	S&P_500___	2,086.05	▲	1.98	▲	0.10%		
	30_Yr_Bond____	2.82	▲	0.01	▲	0.50%		

NYSE Volume	 4,271,092,000 	 	 	 	 	  		 
Nasdaq Volume	 2,049,813,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,571.19	▼	-93.35	▼	-1.40%		
	DAX_____	10,924.61	▼	-369.04	▼	-3.27%		
	CAC_40__	4,925.43	▼	-173.60	▼	-3.40%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,383.50	▼	-89.60	▼	-1.64%		
	Shanghai_Comp	3,886.32	▼	-41.59	▼	-1.06%		
	Taiwan_Weight	8,283.38	▼	-110.76	▼	-1.32%		
	Nikkei_225___	20,392.77	▼	-327.98	▼	-1.58%		
	Hang_Seng.__	23,916.02	▼	-582.19	▼	-2.38%		
	Strait_Times.__	3,061.49	▼	-91.57	▼	-2.90%		
	NZX_50_Index_	5,757.22	▼	-65.13	▼	-1.12%		

http://finance.yahoo.com/news/us-stocks-wobble-then-recover-204131734.html

*US stocks wobble, then recover after China currency weakens

US stocks wobble after a second day of weakening in China's currency, then recover lost ground*
Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Another drop in China's currency shook markets around the world for a second straight day amid rising concerns about the world's second-largest economy. Major markets in Europe slumped, while the U.S. stock market recovered from an early drop to finish nearly flat.

China's central bank let its currency fall again on Wednesday, following a surprising devaluation the day before. The move jolted markets in Europe, home to big companies that rely on China's growing middle class to buy their products.

Major indexes in the U.S. started the day with steep losses, as investors sold shares in Tiffany, YUM! Brands and other companies with significant sales in China. By the afternoon the worst of it was over, and the broader market spent the rest of the day climbing back to where it started.

"Clearly, emotions are running high today," said Jack Ablin, chief investment officer at BMO Private Bank. Ablin said the market's sudden turns reflect the uncertainty surrounding China's actions. "It's really about a fear of the unknown," he said.

The Standard & Poor's 500 index finished with a gain of 1.98 points, or 0.1 percent, at 2,086.05.

The Dow Jones industrial average lost 0.33 of a point to close at 17,402.51, while the Nasdaq composite inched up 7.60 points, or 0.2 percent, to 5,044.39.

China's government said its moves were attempts to make the country's exchange rate more responsive to the market. But a weaker yuan also benefits China by making exports cheaper to overseas customers. Many investors considered the devaluation a sign that China's economy is in worse shape than official reports suggest.

"There's a lot of uncertainty right now," said David Joy, chief market strategist for Ameriprise Financial. "What does this tell us about how weak their economy is? And is this going to spread their weakness to other countries?"

The news from China battered European markets for a second day running. Germany's DAX dropped 3.3 percent, France's CAC 40 dropped 3.4 percent, while Britain's FTSE 100 lost 1.4 percent.

In Asia, Japan's Nikkei 225 fell 1.6 percent and Australia's S&P/ASX 200 fell 1.7 percent. Hong Kong's Hang Seng lost 2.4 percent, and the Shanghai Composite Index lost 1.1 percent.

Back in the U.S., Alibaba Group slumped after posting sales that fell short of Wall Street's high expectations, even though first-quarter income for China's top Internet retailer more than doubled. Alibaba dropped $3.96, or 5.1 percent, to $73.38.

Macy's reported a drop in quarterly profits and sales on Wednesday as the department-store chain's results were hobbled by delayed deliveries and a strong dollar. The company also cut its sales forecast for the rest of the year. Macy's lost $3.42, or 5.1 percent, to $64.11.

In other markets, U.S. government bond prices edged down, nudging the yield on the 10-year Treasury to 2.15 percent from 2.14 percent the day before. The dollar slipped to $1.1161 for every euro and weakened to 124.22 Japanese yen.

Precious and industrial metals ended broadly higher. Gold added $15.90 to $1,123.60 an ounce, silver added 19 cents to $15.48 an ounce and copper crept up two cents to $2.35 a pound.

Crude oil rose 22 cents to close at $43.30 a barrel, bouncing off a six-year low reached the previous day. Brent crude, an international benchmark, added 48 cents to close at $49.66 in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 7 cents to close at $1.764 a gallon.

”” Heating oil rose 2.4 cents to close at $1.587 a gallon.

”” Natural gas rose 8.7 cents to close at $2.931 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	5.74	points or ▲	0.03%	on	Thursday, 13 August 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,408.25	▲	5.74	▲	0.03%		
	Nasdaq____	5,033.56	▼	-10.83	▼	-0.21%		
	S&P_500___	2,083.39	▼	-2.66	▼	-0.13%		
	30_Yr_Bond____	2.86	▲	0.04	▲	1.35%		

NYSE Volume	 3,224,403,750 	 	 	 	 	  		 
Nasdaq Volume	 1,609,554,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,568.33	▼	-2.86	▼	-0.04%		
	DAX_____	11,014.63	▲	90.02	▲	0.82%		
	CAC_40__	4,986.85	▲	61.42	▲	1.25%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,389.00	▲	5.50	▲	0.10%		
	Shanghai_Comp	3,954.56	▲	68.24	▲	1.76%		
	Taiwan_Weight	8,311.74	▲	28.36	▲	0.34%		
	Nikkei_225___	20,595.55	▲	202.78	▲	0.99%		
	Hang_Seng.__	24,018.80	▲	102.78	▲	0.43%		
	Strait_Times.__	3,091.78	▲	30.29	▲	0.99%		
	NZX_50_Index_	5,737.69	▼	-19.53	▼	-0.34%		

http://finance.yahoo.com/news/us-stocks-close-mixed-chinas-200613464.html

*US stocks close mixed as China's currency stabilizes

US markets closed mixed as China soothes concerns over further drops in its currency*
Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- The anxiety that rattled markets earlier this week dissipated Thursday as China's central bank calmed concerns that the country's currency would continue its slide. Major markets in Europe and Asia made gains, while the U.S. stock market finished with a slight loss.

Officials from China's central bank defended recent moves to loosen the government's grip on its currency, saying that the yuan will eventually rebound from its recent fall. There is "no basis for persistent and substantial devaluation," said a deputy central bank governor, Zhang Xiaohui. The yuan is close to "market levels" after two days of sharp drops, Zhang said.

Beijing's surprise devaluation of its currency shook markets around the world this week, upending stocks, commodities and currencies.

"I think the central bankers have given people a reason to believe they're not that worried," said Jason Pride, director of investment strategy at Glenmede, a money management firm. "That's why we're seeing some recovery today."

The major U.S. stock indexes spent much of Thursday changing course. They fell in the morning, climbed higher in the afternoon then drifted lower in the final hour of trading.

The Standard & Poor's 500 index lost 2.66 points, or 0.1 percent, to close at 2,083.39.

The Dow Jones industrial gained 5.74 points, less than 0.1 percent, to 17,408.25 and the Nasdaq composite lost 10.83 points, or 0.2 percent, to 5,033.56.

"This week it has really been all about China's move and trying to interpret what its broader impact might be," said Stephen Freedman, senior investment strategist at UBS Wealth Management. "Now it seems cooler heads are prevailing. People are saying, 'Maybe this might not be as big of a deal as feared.'"

A handful of big companies turned in quarterly results. The department-store chain Kohl's reported quarterly sales and earnings that fell short of analysts' estimates. The news knocked its stock down $5.39, or 9 percent, to $56.11.

Cisco Systems surged after posting quarterly results that topped analysts' expectations after the market closed on Wednesday. The maker of computer networking equipment credited rising revenue from selling data-center servers and its collaboration with other businesses. Cisco's stock gained 80 cents, or 3 percent, to $28.70, the biggest gain of any company in the Dow.

Major Asian benchmarks finished higher after a two-day slump. Japan's Nikkei 225 rose 1 percent, and South Korea's Kospi gained 0.4 percent. In China, Hong Kong's Hang Seng climbed 0.4 percent, while the Shanghai Composite Index on the mainland added 1.8 percent.

In Europe, Germany's DAX gained 0.8 percent and France's CAC-40 climbed 1.2 percent The FTSE 100 index of leading British shares finished with a tiny loss.

U.S. government bonds sank, lifting the yield on the 10-year Treasury note to 2.19 percent from 2.15 percent late Wednesday.

In the commodity markets, gold fell $8 to settle at $1,115.60 an ounce, while silver sank 8 cents to $15.40 an ounce. Copper picked up a fraction of a penny to $2.35 a pound.

The price of oil slipped to another six-year low Thursday on continuing concerns about high global supplies. U.S. crude fell $1.07 to close at $42.23, its lowest close since March 3, 2009. Brent crude, an international benchmark, fell 44 cents to close at $49.22 in London.

In other futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline fell 5 cents to close at $1.714 a gallon.

”” Heating oil fell 1.8 cents to close at $1.569 a gallon.

”” Natural gas fell 14.4 cents to close at $2.787 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	69.15	points or ▲	0.40%	on	Friday, 14 August 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,477.40	▲	69.15	▲	0.40%		
	Nasdaq____	5,048.24	▲	14.68	▲	0.29%		
	S&P_500___	2,091.54	▲	8.15	▲	0.39%		
	30_Yr_Bond____	2.84	▼	-0.02	▼	-0.56%		

NYSE Volume	 2,795,424,000 	 	 	 	 	  		 
Nasdaq Volume	 1,464,258,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,550.74	▼	-17.59	▼	-0.27%		
	DAX_____	10,985.14	▼	-29.49	▼	-0.27%		
	CAC_40__	4,956.47	▼	-30.38	▼	-0.61%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,360.00	▼	-29.00	▼	-0.54%		
	Shanghai_Comp	3,965.33	▲	10.78	▲	0.27%		
	Taiwan_Weight	8,305.64	▼	-6.10	▼	-0.07%		
	Nikkei_225___	20,519.45	▼	-76.10	▼	-0.37%		
	Hang_Seng.__	23,991.03	▼	-27.77	▼	-0.12%		
	Strait_Times.__	3,114.25	▲	22.47	▲	0.73%		
	NZX_50_Index_	5,696.45	▼	-41.24	▼	-0.72%		

http://finance.yahoo.com/news/slow-growth-world-technology-stocks-151413636.html
*
In a slow-growth world, technology stocks are trending again

Technology stocks, attractive in a slow-growth world, are dominating the market again*
Associated Press By Steve Rothwell and Michael Liedtke, AP Business Writers

NEW YORK (AP) -- Technology stocks are trending big-time as investors latch on to innovative companies racing ahead in a slow-growth world.

The tech-heavy Nasdaq is the best performing major U.S. stock index this year, gaining 6.6 percent as the Standard & Poor's 500 and the Dow Jones Industrial averages have wavered between small gains and losses.

The industry has re-established itself as the dominant sector in the U.S. stock market and currently accounts for 20 percent of the value of the S&P 500 index. That is tech's largest share since the dot-com bubble, and makes it the biggest sector in the market.

But the sector's success isn't universal. Some of the most recent earnings reports from big tech companies have highlighted both the good and the bad for the industry.

Here are three positive trends for tech, and two negative ones.

ROOM TO GROW

The economy is still expanding, but at a tepid pace.

Tech companies, however, are generating rapidly rising sales and profits as they disrupt older industries. And that is drawing in investors.

Many think the Internet boom that ended in 2000 was just the first leg in a wave of technology growth.

"The global digital economy is in its infancy. It's still being constructed," says Joe Quinlan, chief market strategist at U.S. Trust in New York. "So we have tremendous upside when it comes to social media, e-commerce, retailing, you name it."

Facebook's revenue jumped 39 percent in the second quarter. That compares with a 4 percent fall for S&P 500 companies in the period. Revenue at business software company Salesforce.com, which hasn't released its second-quarter figures yet, has tripled over the last five years.

SURPRISINGLY AFFORDABLE

Despite its run-up, the sector is not that pricey. In fact, tech stocks are trading at a slight discount to the market.

The average price-earnings ratio, a measure of how much investors are willing to pay for each dollar of earnings, is 16.2 for tech companies in the S&P 500. That is below the 16.5 ratio for the entire index, meaning that tech as a group is fractionally cheaper than the overall market.

"I don't see a valuations bubble," says Jeremy Zirin, head of investment strategy at UBS Wealth Management in New York. "It's not that there isn't froth in some areas, it's just not that pervasive."

Even after a 19-fold increase in the price of Apple's stock during the past decade, it's difficult to argue that it costs too much.

The P/E for Apple's stock is 12, considerably less than the average tech company and the overall market.

Google is another giant with modest valuations.

The Internet company's stock surged in mid-July after it reported better-than-expected earnings for the first time since October 2013. It rose further this month after it announced that it was changing its corporate structure. The change was welcomed by investors who want more transparency about how Google spends its money.

Investors also liked what they heard from Google's new chief financial officer, Ruth Porat, a Wall Street veteran, who has delivered a message of newfound austerity.

Businesses are still moving to the Internet and increasing their spending on advertising, trends that are far from over, says Matt Peron, managing director of global equity at Northern Trust, an asset manager. Those trends should benefit Google, the dominant force in online search and marketing.

That outlook, combined with a reasonable valuation, makes Google an attractive stock to own, he says. The company's P/E is 20.7, above the average for the S&P 500, but not excessively so.

DIVIDENDS

During the last Internet boom, tech companies developed reputations for being extravagant spenders. The money was spent chasing growth, not pleasing shareholders.

Nowadays, many of the larger, more established tech companies are returning cash to shareholders in the form of dividend payments.

Two-thirds of technology firms in the S&P 500 pay a dividend, according to S&P Dow Jones Indices, accounting for 15 percent of all dividend payments made by companies in the index. Some of the biggest names in the sector even pay better-than-average dividends.

Microsoft has a 2.6 percent dividend yield, which measures how much a company pays in dividends compared to its stock price. The S&P 500 average is 1.9 percent. IBM and Intel are also offering higher rates than the market.

Those quarterly payments are especially appealing to investors in an era of extraordinarily low yields in other investments, such as high-quality bonds.

WATCH OUT FOR FROTH

Investors may be getting carried away with the prospects for some stocks. Netflix is an example.

The company has been on an incredible run. Since bottoming out at a split-adjusted $7.54 in August 2012, the stock has soared 16-fold to peak at $126.45 on Aug. 6.

Netflix has added 38 million subscribers around the world during the past three years while expanding into dozens of countries. It's solidified its position as the leader in streaming video.

But investors are paying a high price for that growth. The P/E on the stock has jumped to 427 this year.

If those lofty expectations for earnings growth are not met, an uncomfortable adjustment could follow.

Twitter's stock, for example, has lost almost half its value from a peak in October as the company struggles to satisfy investors' demands for revenue and user growth. And online business review company Yelp has dropped 70 percent since its September high as it grapples with the market's expectations.

OVERSEAS EXPOSURE

Tech is the most exposed of all the S&P 500 sectors to demand from overseas.

About 60 percent of the sector's revenue comes from abroad, according S&P Dow Jones Indices.

As a result, earnings in the group will be hit if the dollar continues to strengthen, as it has done over the past two years. That's because a stronger dollar reduces the value of overseas sales and makes U.S.-produced goods more expensive for foreign buyers.

Microsoft and eBay were two technology companies that lamented the impact of the stronger dollar in their most recent earnings.

Tech companies are also vulnerable to weaker growth in economies overseas. That was illustrated this week when Apple slumped on worries that the Chinese economy was slowing more markedly than investors thought.

Apple's stock dropped 5.2 percent on Tuesday after the Chinese government devalued its currency, the yuan. Most analysts saw the move as an attempt to prop up growth.

The iPhone maker generates almost 17 percent of its sales from China.

2748


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	67.78	points or ▲	0.39%	on	Monday, 17 August 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,545.18	▲	67.78	▲	0.39%		
	Nasdaq____	5,091.70	▲	43.46	▲	0.86%		
	S&P_500___	2,102.44	▲	10.90	▲	0.52%		
	30_Yr_Bond____	2.80	▼	-0.04	▼	-1.41%		

NYSE Volume	 2,856,123,500 	 	 	 	 	  		 
Nasdaq Volume	 1,492,165,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,550.30	▼	-0.44	▼	-0.01%		
	DAX_____	10,940.33	▼	-44.81	▼	-0.41%		
	CAC_40__	4,984.83	▲	28.36	▲	0.57%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,368.60	▲	8.60	▲	0.16%		
	Shanghai_Comp	3,993.67	▲	28.33	▲	0.71%		
	Taiwan_Weight	8,213.42	▼	-92.22	▼	-1.11%		
	Nikkei_225___	20,620.26	▲	100.81	▲	0.49%		
	Hang_Seng.__	23,814.65	▼	-176.38	▼	-0.74%		
	Strait_Times.__	3,067.35	▼	-46.90	▼	-1.51%		
	NZX_50_Index_	5,727.42	▲	30.97	▲	0.54%		

http://finance.yahoo.com/news/stocks-climb-chinas-currency-steadies-212949358.html

*Stocks climb as China's currency steadies, homebuilders rise

US stocks end broadly higher as China currency steadies and homebuilders rise; oil falls again*
Associated Press By Bernard Condon, AP Business Writer

NEW YORK (AP) -- The U.S. stock market climbed on Monday as China's currency steadied and optimism among homebuilders rose.

Investors pushed the market lower at the open, then began buying after an index of homebuilders showed optimism at its highest since the housing boom a decade ago. Gains were modest, but broad as nine of the 10 industry groups of the Standard & Poor's 500 index ended the day higher, led by health care stocks.

"This continues to be a resilient market," said Henry Smith, chief investment officer at Haverford Trust. "The averages came back."

Global news was mixed. The Chinese yuan barely changed, which was a relief to investors rattled last week by a drop of as much as 3 percent in the currency after its surprise devaluation. Oil prices, meanwhile, fell below $42 a barrel for the first time in 6-1/2 years, and investors reacted by dumping stocks of drillers and other energy-related companies.

The S&P 500 ended the day up 10.90 points, or 0.5 percent, to 2,102.44. The Dow Jones industrial average rose 67.78 points, or 0.4 percent, to 17,545.18. The Nasdaq composite climbed 43.46 points, or 0.9 percent, to 5,091.70.

The gains for the S&P 500 pushed the index to roughly where it was a week earlier, before stocks around the world tumbled on the Chinese news.

Bill Strazzullo, chief market strategist at Bell Curve Trading, said trading on Monday fits a recent pattern of investors toughing it out in the face of scary headlines.

"We've weathered Greece, we've weathered the slowdown in China, we've weather trouble in our own economy and yet we're in spitting distance of all-time highs," he said. "People are still bullish."

Investors are hoping for good results from retail earnings reports this week, including Wal-Mart and Home Depot on Tuesday, Target and Lowe's on Wednesday, and Gap on Thursday. Overall, S&P 500 earnings per share are expected to be flat in the second quarter from a year earlier, the worst results in nearly six years, according to research firm S&P Capital IQ.

In economic news, a report showed manufacturing activity in New York state contracted in August at the fastest pace since the Great Recession.

Among other companies making big moves:

— Zulily, a company that offers flash sales online, soared 49 percent after QVC-owner Liberty Interactive offered to buy it for $2.32 billion. The stock rose $6.17 to $18.74.

— Lennar jumped $1.40, or 2.7 percent, to $53.94 after the National Association of Home Builders/Wells Fargo index showed builder sentiment rose this month to the highest level since November 2005.

— Estee Lauder's stock slid the most in the S&P 500 after the company fell short of revenue forecasts. Its outlook in future quarters also disappointed. The stock dropped $6.02, or 6.8 percent, to $82.80.

In Japan, the Nikkei rose after government data showed Asia's second-biggest economy contracted 1.6 percent in the April-June quarter because of bad weather and slowing China demand. But those trends raised hopes of fresh stimulus. Prime Minister Shinzo Abe has championed a huge monetary easing program aimed at kick-starting economic growth.

In oil trading, U.S. crude fell 63 cents to close at $41.87 on the contraction in Japan, the world's third-largest oil consumer. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 45 cents to close at $48.74.

In foreign exchange markets, the dollar bought 6.394 Chinese yuan and the euro was flat at $1.1081. In Japan, the dollar held steady at 124.41 yen.

Gold futures edged up $5.70 to $1,118.60 an ounce. Silver rose 8.5 cents to $15.298 an ounce. Copper slipped 3.2 cents to $2.333 a pound

Prices of U.S. government bonds rose, tugging down the yield on the 10-year Treasury note to 2.17 percent from 2.20 percent late Friday.

In other futures trading on the NYMEX:

— Wholesale gasoline fell 3.3 cents to close at $1.654 a gallon.

— Heating oil fell 0.3 cents to close at $1.555 a gallon.

— Natural gas fell 7.3 cents to close at $2.728 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-33.84	points or ▼	-0.19%	on	Tuesday, 18 August 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,511.34	▼	-33.84	▼	-0.19%		
	Nasdaq____	5,059.35	▼	-32.35	▼	-0.64%		
	S&P_500___	2,096.92	▼	-5.52	▼	-0.26%		
	30_Yr_Bond____	2.86	▲	0.06	▲	2.21%		

NYSE Volume	 2,940,810,500 	 	 	 	 	  		 
Nasdaq Volume	 1,485,547,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,526.29	▼	-24.01	▼	-0.37%		
	DAX_____	10,915.92	▼	-24.41	▼	-0.22%		
	CAC_40__	4,971.25	▼	-13.58	▼	-0.27%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,309.40	▼	-59.20	▼	-1.10%		
	Shanghai_Comp	3,748.16	▼	-245.50	▼	-6.15%		
	Taiwan_Weight	8,177.22	▼	-36.20	▼	-0.44%		
	Nikkei_225___	20,554.47	▼	-65.79	▼	-0.32%		
	Hang_Seng.__	23,474.97	▼	-339.68	▼	-1.43%		
	Strait_Times.__	3,049.65	▼	-17.70	▼	-0.58%		
	NZX_50_Index_	5,710.77	▼	-16.65	▼	-0.29%		

http://finance.yahoo.com/news/us-stocks-fizzle-wal-mart-201914894.html
*
US stocks fizzle as Wal-Mart falls and China slumps

US stocks end lower as Wal-Mart cuts profit forecast and China's market slumps*
Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- The U.S. stock market shuffled to a slight loss in a lazy day of summer trading Tuesday.

Wal-Mart's shares slid after the retailer cut its profit forecast for the year, while renewed concerns over the strength of China's economy weighed on companies that depend on customers there.

But the broader market looked aimless. The major indexes headed lower at the opening of trading, turned higher just before lunchtime, then slowly lost ground throughout the afternoon.

"We're in the summer doldrums," said Jim Paulsen, chief investment strategist at Wells Capital Management. "Most people are staying cool on the lake somewhere."

Another reason for the markets' recent drift, Paulsen said, is that the news hasn't been all that surprising. "People know about China's problems, they know about falling commodity prices," he said. "They've digested a lot of the news that's out there already."

The Standard & Poor's 500 index slipped 5.52 points, or 0.3 percent, to close at 2,096.92. The benchmark for most mutual funds has lost just 7 points this month.

The Dow Jones industrial average lost 33.84 points, or 0.2 percent, to end at 17,511.34, and the Nasdaq composite sank 33.35 points, or 0.6 percent, to 5,059.35.

In other trading, Wal-Mart fell 3 percent after warning that its annual profit will likely fall short of previous estimates, partly because of a strong dollar. The world's largest retailer also reported a drop in quarterly earnings as it spent more on wages and overhauling U.S. stores. Shares slid $2.43 to $69.48.

Other retailers fared better. TJX, the company behind T.J. Maxx, reported rising earnings and sales and raised its estimate for annual profit. The news shot its stock up $5.17, or 7 percent, to $76.78, the biggest gain in the S&P 500.

Overseas, China's main Shanghai stock index took another plunge, losing 6 percent. It was the index's largest one-day drop since an 8 percent dive on July 27 and happened even though Beijing banned major shareholders from selling stocks.

"All the news out of China recently has done nothing to restore confidence in its financial markets," said David Madden, market analyst at IG, "and the ripple effect can be felt in Europe."

Major European markets closed with slight losses. France's CAC-40 slipped 0.3 percent, and Britain's FTSE 100 fell 0.4 percent. Germany's DAX lost 0.2 percent. Worries over China, a key customer for German-made machinery, chemicals and other goods, have helped knock the DAX down 3.5 percent so far this month.

Back in the U.S., Lennar, D.R. Horton and other companies in the housing market jumped following news that builders started work on single-family homes at the fastest pace since 2007.

Government bond prices dipped, nudging the yield on the 10-year Treasury note up to 2.19 percent.

Precious and industrial metals settled broadly lower. Gold slipped $1.50 to $1,117.10 an ounce, while silver sank 51 cents to $14.79 an ounce. Copper lost 4 cents to $2.30 a pound.

The price of oil inched above its recent six-year low, though analysts expect the supply glut that has pushed prices lower to persist. U.S. crude rose 75 cents to close at $42.62 in New York. Brent crude for October delivery, an international benchmark, rose 7 cents to close at $48.81 in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 0.7 cent to close at $1.647 a gallon.

”” Heating oil rose 0.4 cent to close at $1.559 a gallon.

”” Natural gas fell 2.4 cents to close at $2.704 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-162.61	points or ▼	-0.93%	on	Wednesday, 19 August 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,348.73	▼	-162.61	▼	-0.93%		
	Nasdaq____	5,019.05	▼	-40.29	▼	-0.80%		
	S&P_500___	2,079.61	▼	-17.31	▼	-0.83%		
	30_Yr_Bond____	2.82	▼	-0.04	▼	-1.54%		

NYSE Volume	 3,506,208,000 	 	 	 	 	  		 
Nasdaq Volume	 1,761,758,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,403.45	▼	-122.84	▼	-1.88%		
	DAX_____	10,682.15	▼	-233.77	▼	-2.14%		
	CAC_40__	4,884.10	▼	-87.15	▼	-1.75%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,379.80	▲	70.40	▲	1.33%		
	Shanghai_Comp	3,794.11	▲	45.95	▲	1.23%		
	Taiwan_Weight	8,021.84	▼	-155.38	▼	-1.90%		
	Nikkei_225___	20,222.63	▼	-331.84	▼	-1.61%		
	Hang_Seng.__	23,167.85	▼	-307.12	▼	-1.31%		
	Strait_Times.__	3,041.25	▼	-8.40	▼	-0.28%		
	NZX_50_Index_	5,750.03	▲	39.26	▲	0.69%		

http://finance.yahoo.com/news/stocks-lower-fed-minutes-keep-181212194.html
*
Stocks lower as Fed minutes keep rate increase in play

Stocks fall, following global sell-off; Fed minutes show bank still pondering rate hike*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks posted solid losses on Wednesday as investors got mixed signals from the Federal Reserve over the possibility of an interest rate hike in September. Energy stocks fell as the price of oil plummeted.

The Dow Jones industrial average lost 162.61 points, or 0.9 percent, to 17,348.73. The Standard & Poor's 500 index lost 17.31 points, or 0.8 percent, to 2,079.61 and the Nasdaq composite index lost 40.30 points, or 0.8 percent, to 5,019.05.

The minutes from the Federal Reserve's July meeting gave no specific clues on whether the central bank's officials were poised to raise interest rates in September. Stocks recovered some of their losses after the release of the Fed minutes, but the modest recovery dissipated and the market basically ended the day roughly where it was most of the session.

In the minutes, Fed officials appeared to move closer to raising interest rates for the first time in nearly a decade but remained concerned that the economic slowdown in China could pose risks to the U.S. economy. Policy makers also expressed concerns that inflation, noting the recent sharp decline in commodity prices, remains too low to justify an interest rate increase.

"We don't come away from the minutes feeling more confident about our call for a September rate hike as we might have hoped," said Michelle Girard, an economist at RBS.

Bond yields fell sharply as bond traders took the Fed minutes as a sign that interest rates were going to remain at near-zero levels for several more months. The U.S. 10-year Treasury note fell to a yield of 2.12 percent from 2.19 percent on Tuesday. Most traders believe the Fed will either raise interest rates in September or wait until early 2016.

"In their heart of hearts Fed officials want to raise interest rates this year. But with commodity prices as low as they are, it could give the Fed pause," said Alan Rechtschaffen of UBS.

Benchmark U.S. crude dropped $1.95 to $41.17 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.96 to $46.88 per barrel. Oil's losses deepened after data from the U.S. government showed oil inventories rose much more than expected last week.

Energy stocks followed crude oil lower. Marathon Oil fell 7 percent, Chevron fell 3 percent and Exxon Mobil fell 2 percent, respectively.

In other futures trading on the NYMEX, wholesale gasoline fell 8.8 cents to close at $1.559 a gallon. Heating oil fell 4.1 cents to close at $1.518 a gallon. Natural gas rose 1.2 cents to close at $2.716 per 1,000 cubic feet.

Overseas, China's stock market roiled Asian and European stocks, on fears that the country's currency, the yuan, will continue to erode. Chinese stocks ended higher but only after a turbulent day that included sharp losses early on. The Shanghai Composite Index closed up 1.2 percent after plunging as much as 5 percent. European stocks ended the day down roughly 2 percent.

The euro rose to $1.1065 while the dollar was down against the Japanese Yen at 124.08 yen.

Gold closed up $11.00 to $1,127.90 an ounce, silver rose 39 cents to $15.18 an ounce and copper fell a penny to $2.27 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-358.04	points or ▼	-2.06%	on	Thursday, 20 August 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,990.69	▼	-358.04	▼	-2.06%		
	Nasdaq____	4,877.49	▼	-141.56	▼	-2.82%		
	S&P_500___	2,035.73	▼	-43.88	▼	-2.11%		
	30_Yr_Bond____	2.75	▼	-0.06	▼	-2.31%		

NYSE Volume	 3,918,239,750 	 	 	 	 	  		 
Nasdaq Volume	 2,052,310,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,367.89	▼	-35.56	▼	-0.56%		
	DAX_____	10,432.19	▼	-249.96	▼	-2.34%		
	CAC_40__	4,783.55	▼	-100.55	▼	-2.06%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,295.50	▼	-84.30	▼	-1.57%		
	Shanghai_Comp	3,664.29	▼	-129.82	▼	-3.42%		
	Taiwan_Weight	8,029.81	▲	7.97	▲	0.10%		
	Nikkei_225___	20,033.52	▼	-189.11	▼	-0.94%		
	Hang_Seng.__	22,757.47	▼	-410.38	▼	-1.77%		
	Strait_Times.__	3,009.78	▼	-31.47	▼	-1.03%		
	NZX_50_Index_	5,742.46	▼	-7.57	▼	-0.13%		

http://finance.yahoo.com/news/dow-drops-358-points-china-213620268.html

*Dow drops 358 points after China fears spur global sell-off

US stock market endures worst day in 18 months over worries about China, global growth*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- The U.S. stock market endured its worst performance in 18 months on Thursday, driven lower by another slump in Chinese shares and heavy selling by technical traders.

The global rout started in China, where sharp declines in energy and property stocks pushed the Shanghai Composite down more than 3 percent. That selling soon spread to European and U.S. markets, where the Standard & Poor's 500 index moved further below a closely watched trading level.

Investors, facing screens full of red, retreated to their usual places of safety: bonds, gold and cash.

"The emerging markets really got slammed overnight and that quickly spread to the rest of the world," said J.J. Kinahan, chief strategist at TD Ameritrade.

The Dow Jones industrial average plunged 358.04 points, or 2.1 percent, to 16,990.69. The S&P 500 dropped 43.88 points, or 2.1 percent, to 2,035.73 and the Nasdaq composite lost 141.56 points, or 2.8 percent, to 4,877.49.

It was the biggest percentage decline for the Dow and S&P 500 since February 2014. The blue chip index is now at its lowest level since October 2014.

Buyers of stocks were few and far between. Selling outweighed buying by a ratio of more than eight to one in heavy trading. Still, even with the sell-off, the S&P 500 was down just 4.5 percent from its record close of 2,130.82 on May 21.

As the selling picked up Thursday, investors moved money to traditional havens in times of uncertainty.

Gold rose $25.30, or 2.2 percent, to $1,153.20 an ounce, the metal's best day since April. Demand for ultra-safe U.S. government bonds rose, pulling down the yield on the benchmark 10-year Treasury note to 2.07 percent from 2.13 late Wednesday. The 10-year's yield stood at 2.19 percent only two days before, and its decline since then represents a major decline.

Worries over China, the world's second-largest economy, spurred Thursday's losses. The Shanghai Composite Index dropped 3.4 percent. Chinese shares have had a wild ride this week and that has raised questions about Beijing's ability to stabilize the market and the devaluation of that nation's currency.

The move has caused other countries to devalue their own currencies, notably oil-rich Kazakhstan and the manufacturing hub of Vietnam.

Strategists and traders, noting the lack of major U.S. economic news on Thursday, said the drop in stocks was also likely tied to programmed selling, which came after the S&P 500 moved below one of its most closely watched indicators, a 200-day moving average.

While many investors buy and sell stocks based on a company's business outlook, there is a different class of trader who relies on such technical indicators to make investment decisions.

"I see this drop as likely because we crossed the 200-day moving average, and that's causing us to have further selling," said Scott Wren, chief global equity strategist at the Wells Fargo Investment Institute.

Media stocks were hit particularly hard. Walt Disney shares fell $6.43, or 6 percent, to $100.02. Analysts are concerned that viewers are moving away from cable, which could hurt lucrative Disney properties such as ESPN.

Viacom, owner of CBS, fell 6 percent as well while Twenty-First Century Fox slipped 4 percent.

The year's biggest winners also were hit hard, possibly a sign that investors feel the seven-year bull market for stocks might be slowing down. Netflix, which is up about 130 percent since January, fell 8 percent. Gilead Sciences dipped 3 percent and Google declined 2 percent.

The price of benchmark U.S. oil rose slightly but remains near its low point of March 2009. U.S. crude rose 34 cents to $41.14 in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 54 cents to $46.62 in London.

In other futures trading, wholesale gasoline fell 2.4 cents to close at $1.535 a gallon. Heating oil fell 2.2 cents to close at $1.496 a gallon. Natural gas rose 3.9 cents to close at $2.755 per 1,000 cubic feet.

In metals, silver rose 34 cents to $15.52 an ounce and copper rose 4 cents to $2.32 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-530.94	points or ▼	-3.12%	on	Friday, 21 August 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,459.75	▼	-530.94	▼	-3.12%		
	Nasdaq____	4,706.04	▼	-171.45	▼	-3.52%		
	S&P_500___	1,970.89	▼	-64.84	▼	-3.19%		
	30_Yr_Bond____	2.75	▼	-0.01	▼	-0.25%		

NYSE Volume	 4,996,503,500 	 	 	 	 	  		 
Nasdaq Volume	 2,596,979,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,187.65	▼	-180.24	▼	-2.83%		
	DAX_____	10,124.52	▼	-307.67	▼	-2.95%		
	CAC_40__	4,630.99	▼	-152.56	▼	-3.19%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,224.80	▼	-70.70	▼	-1.34%		
	Shanghai_Comp	3,507.74	▼	-156.55	▼	-4.27%		
	Taiwan_Weight	7,786.92	▼	-242.89	▼	-3.02%		
	Nikkei_225___	19,435.83	▼	-597.69	▼	-2.98%		
	Hang_Seng.__	22,409.62	▼	-347.85	▼	-1.53%		
	Strait_Times.__	2,971.01	▼	-38.77	▼	-1.29%		
	NZX_50_Index_	5,751.19	▲	8.73	▲	0.15%		

http://finance.yahoo.com/news/fears-over-global-slowdown-hammer-191757929.html#
*
Fears over global slowdown hammer US stocks for 2nd day

US stocks join global market rout for 2nd day on worries over China; Nasdaq nears a correction*
Associated Press By Bernard Condon and Matthew Craft, AP Business Writers

NEW YORK (AP) -- Growing concerns about a slowdown in China shook markets around the world on Friday, driving the U.S. stock market to its biggest drop in nearly four years.

The rout started in Asia and quickly spread to Europe, battering major markets in Germany and France. In the U.S., the selling started early and never let up. Investors ditched beaten-down oil companies, as well as Netflix, Apple and other technology darlings. Oil plunged below $40 for the first time since the financial crisis, and government bonds rallied as investors raced into hiding spots.

"Investors are wondering if growth isn't coming from the U.S. or China, where is it going to come from?" said Tim Courtney, CIO of Exencial Wealth Advisors. "This is about growth."

By the time it was over, the Standard and Poor's 500 index had lost 5.8 percent for the week, its worst weekly slump since 2011. That leaves the main benchmark for U.S. investments 7.7 percent below its all-time high -- within shooting range of what traders call a "correction," a 10 percent drop from a peak.

Markets began falling last week after China announced a surprise devaluation of its currency, the yuan. Investors have interpreted China's move as a sign that flagging growth in world's second-largest economy could be worse than government reports suggest. On Friday, they got more bad news: A private survey showed another drop in manufacturing on the mainland.

The Standard & Poor's 500 index dropped 64.84 points, or 3.2 percent, to close at 1,970.89.

The Dow Jones industrial average fell 530.94 points, or 3.1 percent, to 16,459.75. That's 10 percent off its high, a correction.

The Nasdaq slid 171.45 points, or 3.5 percent, to 4,706.04.

"Concerns about slowing growth in China are certainly valid," said Jeremy Zirin, head of investment strategy at UBS Wealth Management. "But there doesn't seem to be any signal that the weakness abroad is slipping into the U.S. economy."

Investors pointed to other reasons behind the recent sell-off, such as falling prices for oil and other commodities as well as the relatively high prices investors pay for U.S. stocks compared with corporate earnings.

"All of this is coming at a time when we haven't had a correction since the summer of 2012," Zirin said.

Roberto Perli, head of global monetary policy research at Cornerstone Macro, said the market's recent slump likely means the Federal Reserve won't raise its benchmark interest rate at its September meeting. Fed officials gathering next month will have to weigh the global pressures against evidence of a solid U.S. job market and improving U.S. economic growth.

"They have the luxury of being able to wait and see what happens," Perli said. "But if the meeting was tomorrow, it's probably fair to say that they wouldn't tighten given all the turmoil in the global markets."

For all the markets' jitters, many economists say they remain confident that the U.S. economy is resilient enough to withstand a slowdown in the developing world. And Europe's economy appears to be emerging from its long slump.

Major markets in Europe finished with deep losses on Friday. France's CAC-40 fell 3.2 percent while Germany's DAX lost 2.9 percent. In Britain, the FTSE 100 index dropped 2.8 percent.

In Asia, the Shanghai Composite index suffered another steep drop of 4.3 percent. Japan's Nikkei 225 lost 3 percent, South Korea's Kospi shed 2 percent and Hong Kong's Hang Seng fell 1.5 percent.

Back in the U.S., government bond prices rose, pushing the yield on the 10-year Treasury note to 2.04 percent.

In the commodity markets, gold gained $6.40 to settle at $1,159.60 an ounce, while silver slipped 22 cents to $15.30 an ounce. Copper lost 2 cents to $2.30 a pound.

The price of U.S. oil briefly dipped below $40 a barrel for the first time since March of 2009. U.S. crude fell 69 cents to close at $40.45 in New York. At one point, it fell as low as $39.86 in midday trading. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.16 to close at $45.46 in London.

In other trading on the NYMEX:

— Wholesale gasoline rose 1 cent to close at $1.545 a gallon.

— Heating oil fell 3.4 cents to close at $1.462 a gallon.

— Natural gas fell 7.9 cents to close at $2.676 per 1,000 cubic feet.

3392


----------



## bigdog

*The Dow plummeted 1,089 points Monday within the first four minutes of the opening bell as traders dumped shares. But a wave of buying by bargain-hunters cut the Dow's losses by half just five minutes later.

The Dow ended up losing 588.47 points, or 3.6 percent, closing at 15,871.35*

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-588.4	points or ▼	-3.57%	on	Monday, 24 August 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	15,871.35	▼	-588.40	▼	-3.57%		
	Nasdaq____	4,526.25	▼	-179.79	▼	-3.82%		
	S&P_500___	1,893.21	▼	-77.68	▼	-3.94%		
	30_Yr_Bond____	2.72	▼	-0.03	▼	-1.06%		

NYSE Volume	 6,615,565,000 	 	 	 	 	  		 
Nasdaq Volume	 3,435,570,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,898.87	▼	-288.78	▼	-4.67%		
	DAX_____	9,648.43	▼	-476.09	▼	-4.70%		
	CAC_40__	4,383.46	▼	-247.53	▼	-5.35%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,014.20	▼	-210.60	▼	-4.03%		
	Shanghai_Comp	3,209.91	▼	-297.84	▼	-8.49%		
	Taiwan_Weight	7,410.34	▼	-376.58	▼	-4.84%		
	Nikkei_225___	18,540.68	▼	-895.15	▼	-4.61%		
	Hang_Seng.__	21,251.57	▼	-1,158.05	▼	-5.17%		
	Strait_Times.__	2,843.39	▼	-127.62	▼	-4.30%		
	NZX_50_Index_	5,607.31	▼	-143.88	▼	-2.50%		

http://finance.yahoo.com/news/stocks-slump-dow-ends-down-214632531.html

*Stocks slump; Dow ends down 588 after early 1,000-pt. slide

US stocks slump again over China slowdown; Dow briefly plunges 1,000 points, ends day down 588*
Associated Press By Alex Veiga and Steve Rothwell, AP Business Writers

U.S. stocks slid again Monday, with the Dow Jones industrial average briefly plunging more than 1,000 points in a sell-off that sent a shiver of fear from Wall Street to Main Street.

Stocks regained some of that ground as the day wore on, but the Dow finished with a loss of 588 points, the eighth-worst single-day point decline and the second straight fall of more than 500.

The slump — part of a global wave of selling touched off by signs of a slowdown in China, the world's second-largest economy — triggered worries among Wall Street professionals and ordinary Americans who are saving for retirement or a down payment on a house.

With the lease on her car up, health insurance worker Deirdre Ralph of Wayne, New Jersey, had planned to get a less pricey vehicle and invest the savings. Now she's having doubts.

"That money, I wanted to take and put it toward my retirement," said Ralph, 61. "Should I? Or should I just have a great old time?"

The Dow ended up losing 588.47 points, or 3.6 percent, closing at 15,871.35. As scary as the sell-off was, the Dow's decline doesn't even make the list of the Top 10 biggest drops in percentage terms.

The Standard & Poor's 500 index slid 77.68 points, or 3.9 percent, to 1,893.21, and is now in "correction" territory, Wall Street jargon for a drop of at least 10 percent from a recent peak. The last market correction was nearly four years ago.

The Nasdaq composite shed 179.79 points, or 3.8 percent, closing at 4,526.25.

All three major indexes are down for the year.

"There is a lot of fear in the markets," said Bernard Aw, market strategist at IG.

U.S. stocks have been on a bull run for more than six years, after bottoming out in March 2009 in the aftermath of the financial crisis and the Great Recession. The rout began in China last week and continued on Monday, when the country's main stock index sank 8.5 percent.

China concerns aside, U.S. stocks have been primed for a sell-off for several months, said Jim Paulsen, chief investment strategist and economist for Wells Capital Management.

"I've been of the view since late last year that this market is in a vulnerable position," he said. "It's gone almost straight up for six years."

Stocks have kept rising even as corporate earnings growth has slowed. The price-earnings ratio for the S&P 500, a measure of how much investors are willing to pay for each dollar of company earnings, climbed as high as 17.2 in March. That was the highest level in at least a decade, according to FactSet.

The Dow plummeted 1,089 points Monday within the first four minutes of the opening bell as traders dumped shares. But a wave of buying by bargain-hunters cut the Dow's losses by half just five minutes later.

The U.S. market slide was broad. The 10 sectors in the S&P 500 headed lower, with energy stocks recording the biggest decline, 5.2 percent, amid a slump in the price of oil. The sector is down almost 25 percent this year.

U.S. Treasurys surged as investors bought less risky assets. The yield on the benchmark 10-year note fell to 2.01 percent from 2.04 percent.

Oil, commodities and the currencies of many developing countries also tumbled on concerns that a slowdown in China might hurt economic growth around the globe. Crude oil closed below $40 a barrel for the first time since early 2009. Gold and silver also fell.

In Europe, Germany's DAX stock index fell 4.7 percent, while the CAC-40 in France slid 5.4 percent. The FTSE 100 index of leading British shares dropped 4.7 percent.

In Asia, Japan's Nikkei index fell 4.6 percent, its worst one-day drop since in over 2 ½ years. Hong Kong's Hang Seng index fell 5.2 percent, Australia's S&P ASX/200 slid 4.1 percent, and South Korea's Kospi lost 2.5 percent.

The Shanghai index suffered its biggest percentage decline in 8 ½ years. China is facing a slowdown in economic growth, the banking system is short of cash, and investors are pulling money out of the country.


----------



## bigdog

*The three major U.S. indexes have now lost ground six days in a row, with the Dow falling about 1,900 points over that period.

The S&P 500 is down 12 percent from its record close of 2,130.82 on May 21.*

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-204.91	points or ▼	-1.29%	on	Tuesday, 25 August 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	15,666.44	▼	-204.91	▼	-1.29%		
	Nasdaq____	4,506.49	▼	-19.76	▼	-0.44%		
	S&P_500___	1,867.61	▼	-25.60	▼	-1.35%		
	30_Yr_Bond____	2.85	▲	0.14	▲	5.00%		

NYSE Volume	 5,175,476,000 	 	 	 	 	  		 
Nasdaq Volume	 2,587,672,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,081.34	▲	182.47	▲	3.09%		
	DAX_____	10,128.12	▲	479.69	▲	4.97%		
	CAC_40__	4,564.86	▲	181.40	▲	4.14%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,143.80	▲	129.60	▲	2.58%		
	Shanghai_Comp	2,964.97	▼	-244.94	▼	-7.63%		
	Taiwan_Weight	7,675.64	▲	265.30	▲	3.58%		
	Nikkei_225___	17,806.70	▼	-733.98	▼	-3.96%		
	Hang_Seng.__	21,404.96	▲	153.39	▲	0.72%		
	Strait_Times.__	2,886.29	▲	42.90	▲	1.51%		
	NZX_50_Index_	5,613.29	▲	5.98	▲	0.11%		

http://finance.yahoo.com/news/us-stocks-extend-losses-early-204600419.html

*US stocks extend losses as early rally fades

Another losing day on Wall Street as early rally fades; Dow sheds more than 200 points*
Associated Press By Alex Veiga, AP Business Writer

Just when it looked as if the bleeding had stopped, it started up again.

A rally in U.S. stocks evaporated in the minutes before the closing bell Tuesday, sending the Dow Jones industrial average down more than 200 points and extending Wall Street's losing streak to six days — the longest such stretch in more than three years.

Where the market might bottom out is anyone's guess — not exactly comforting news to anyone whose retirement savings or down payment on a house are tied up in stocks.

The rally came after China lowered interest rates to try to boost its slowing economy. Other world markets surged on the news out of Beijing, and for a while, it looked as if U.S. stocks would follow suit and the global sell-off might stop.

Stocks also got a lift from economic reports showing a rebound in U.S. consumer confidence and sales of new American homes.

At one point Tuesday, the Dow was up as much as 441 points. But sell orders began pouring in in the last 15 minutes of trading, and stocks swung abruptly from positive to negative territory.

The Dow ended with a loss of 204.91 points, or 1.3 percent, at 15,666.44. The Standard & Poor's 500 index fell 25.60 points, or 1.4 percent, to 1,867.61. The Nasdaq composite declined 19.76 points, or 0.4 percent, to 4,506.49.

"The return to a more traditional stimulus from China helped excite many investors," said Jeff Kleintop, chief global investment strategist at Charles Schwab. "But, in fact, this is more likely the start of a longer-term period of volatility."

The three major U.S. indexes have now lost ground six days in a row, with the Dow falling about 1,900 points over that period.

The S&P 500 is down 12 percent from its record close of 2,130.82 on May 21. That puts it in what Wall Street calls a "correction" — a drop of at least 10 percent from its most recent high. It is the S&P's first correction in nearly four years.

The last time the S&P declined six days straight was July 2012.

China, the world's second-largest economy, cut its interest rates for the fifth time in nine months in a renewed effort to shore up growth. The central bank also increased the amount of money available for lending by reducing the reserves banks are required to hold.

A slowdown in China has the potential to significantly crimp demand for oil and other commodities, a ripple effect that could dampen global economic growth.

"The Chinese economy is going to be on this bumpy road for a while, and it will have ebbs and flows that will no doubt have a serious impact on the global economy," said Kamel Mellahi, professor at the Warwick Business School. "What we are seeing now is a dress rehearsal of things to come."

Beyond China, traders are waiting for clarity from the Federal Reserve, which has signaled it could begin raising its key interest rate from near zero for the first time in nearly a decade as early as this year. The Fed isn't expected to deliver a policy update until it wraps up a meeting of policymakers in mid-September.

European markets recovered almost all their losses from Monday's sell-off. Germany's DAX jumped 5 percent, while France's CAC-40 rose 4.1 percent. The FTSE 100 index of leading British shares gained 3.1 percent.

China's central bank took action hours after the country's main stock index closed sharply lower for a fourth day. The Shanghai stock index slumped 7.6 percent, on top of Monday's 8.5 percent loss.

Tokyo's Nikkei 225 also closed lower, sliding 4 percent. But other markets in Asia posted modest recoveries, including Hong Kong and Sydney.

Energy company Pepco Holdings declined the most in the S&P 500 on Tuesday after regulators in Washington rejected its proposed merger with Exelon. Pepco stock shed $4.44, or 16.5 percent, to $22.51.

Best Buy recorded the biggest gain in the index, climbing $3.68, or 12.6 percent, to $32.95, after the home electronics chain reported better-than-expected results for the quarter.

Oil rebounded from its lowest closing level in more than six years. The price of U.S. crude rose $1.07, or 2.8 percent, to $39.31.

U.S. government bond prices fell, pushing up the yield on the 10-year Treasury note to 2.07 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	619.07	points or ▲	3.95%	on	Wednesday, 26 August 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,285.51	▲	619.07	▲	3.95%		
	Nasdaq____	4,697.54	▲	191.05	▲	4.24%		
	S&P_500___	1,940.51	▲	72.90	▲	3.90%		
	30_Yr_Bond____	2.93	▲	0.08	▲	2.73%		

NYSE Volume	 5,331,811,000 	 	 	 	 	  		 
Nasdaq Volume	 2,609,145,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,979.20	▼	-102.14	▼	-1.68%		
	DAX_____	9,997.43	▼	-130.69	▼	-1.29%		
	CAC_40__	4,501.05	▼	-63.81	▼	-1.40%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,178.90	▲	35.10	▲	0.68%		
	Shanghai_Comp	2,927.29	▼	-37.68	▼	-1.27%		
	Taiwan_Weight	7,715.59	▲	39.95	▲	0.52%		
	Nikkei_225___	18,376.83	▲	570.13	▲	3.20%		
	Hang_Seng.__	21,080.39	▼	-324.57	▼	-1.52%		
	Strait_Times.__	2,873.00	▼	-13.29	▼	-0.46%		
	NZX_50_Index_	5,577.78	▼	-35.51	▼	-0.63%		

http://finance.yahoo.com/news/us-stocks-move-sharply-higher-six-day-slump-140420648--finance.html#
*
US stocks surge, snapping 6-day losing streak*
Associated Press By ALEX VEIGA

The Dow Jones industrial average rocketed more than 600 points Wednesday, its biggest gain in seven years, snapping a six-day losing streak that had Americans nervously checking their investment balances.

While the surge came as a relief to many, Wall Street professionals warned that more rough days lie ahead, in part because of unsettled conditions in China, where signs of an economic slowdown triggered the sell-off that has shaken global markets over the past week.

Heading into Wednesday, the three major U.S. stock indexes had dropped six days in a row, the longest slide in more than three years. The Dow had fallen about 1,900 points over that period, while the slump wiped out more than $2 trillion in corporate value.

On Tuesday, a rally on Wall Street collapsed in the final minutes of trading, with the Dow closing more than 200 points lower. On Wednesday, the market opened strong again, and the question all day was whether the rally would hold. It did, and picked up speed just before the closing bell.

The Dow vaulted 619.07 points, or 4 percent, to 16,285.51. It was the Dow's third-biggest point gain of all time and its largest since Oct. 28, 2008, when it soared 889 points.

The Standard & Poor's 500 index, a much broader measure of the stock market, gained 72.90 points, or 3.9 percent, to 1,940.51. In percentage terms, it was the best day for the S&P 500 in nearly four years. The Nasdaq composite rose 191.05 points, or 4.2 percent, to 4,697.54.

Wall Street professionals said investors apparently saw the big sell-off as an opportunity to go bargain-hunting and buy low. "That always leads to a bounce or spike in the market," said Quincy Krosby, market strategist for Prudential Financial.

Another factor was believed to be a comment on Wednesday from the head of the New York Federal Reserve Bank, William Dudley, who said that because of the slowdown in China and other factors, the case for the Fed to raise rock-bottom interest rates next month for the first time in nearly a decade is "less compelling" than it was a few weeks ago.

"That certainly helped the market," Krosby said.

The U.S. stock market has been on a run-up that has lasted more than six years and pushed the major indexes to all-time highs. Investors worry that the economy could falter if the Fed raises rates too soon.

Over the past few days, ordinary Americans with 401(k)s and other investments have been calling their financial advisers in search of some reassurance.

"I wouldn't say it is full-blown panic," said Brennan Miller, a branch manager for Charles Schwab in Chicago. "Markets have been steadily advancing for several years, and that breathed some complacency. This caught people off guard."

Any sign that the market has bottomed out could encourage investors to get back in.

"There's a lot of cash on the sidelines waiting to get in, so to the extent that there's any sort of bottom seen, that will increase people's confidence and boldness," said Erik Davidson, chief investment officer for Wells Fargo Private Bank.

Still, the market has a ways to go before it recovers its run of recent losses. The Dow remains down 8.6 percent this year, while the S&P 500 is off 5.8 percent. The Nasdaq is down just 0.8 percent.

And despite Wednesday's strong rebound, analysts said there are probably more roller-coaster days ahead, good and bad, because of China as well as worries about a Fed rate increase.

In international markets, major indexes in Germany, France and Britain fell anywhere from 1.3 to 1.7 percent. Markets in Asia were mixed. Japan's Nikkei 225 stock index rose 3.2 percent. Hong Kong's Hang Seng index fell 0.5 percent.

The price of oil fell back below $39 a barrel after a U.S. government report showed an unexpected decline in demand for gasoline. U.S. government bond prices fell, and the yield on the 10-year Treasury note rose to 2.18 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	369.26	points or ▲	2.27%	on	Thursday, 27 August 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,654.77	▲	369.26	▲	2.27%		
	Nasdaq____	4,812.71	▲	115.17	▲	2.45%		
	S&P_500___	1,987.66	▲	47.15	▲	2.43%		
	30_Yr_Bond____	2.90	▼	-0.03	▼	-1.02%		

NYSE Volume	 4,971,177,000 	 	 	 	 	  		 
Nasdaq Volume	 2,328,080,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,192.03	▲	212.83	▲	3.56%		
	DAX_____	10,315.62	▲	318.19	▲	3.18%		
	CAC_40__	4,658.18	▲	157.13	▲	3.49%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,242.60	▲	63.70	▲	1.23%		
	Shanghai_Comp	3,083.59	▲	156.30	▲	5.34%		
	Taiwan_Weight	7,824.55	▲	108.96	▲	1.41%		
	Nikkei_225___	18,574.44	▲	197.61	▲	1.08%		
	Hang_Seng.__	21,838.54	▲	758.15	▲	3.60%		
	Strait_Times.__	2,945.43	▲	72.43	▲	2.52%		
	NZX_50_Index_	5,634.94	▲	57.16	▲	1.02%		

http://finance.yahoo.com/news/us-stocks-end-sharply-higher-201222177.html

*US stocks end sharply higher after Chinese market surges

US stocks jump after Chinese market surges, US economy grew faster than previously estimated*
Associated Press By Alex Veiga, AP Business Writer

Investors were in a buying mood again on Thursday, driving U.S. stocks higher for the second straight day as they took advantage of this month's sell-off.

The rally came a day after the stock market delivered its biggest gain in almost four years, ending a steep six-day slump that was triggered by concerns about the health of the Chinese economy.

Energy stocks surged as the price of U.S. oil jumped more than 10 percent, closing back above $40 a barrel.

Investors were encouraged by a big gain in the Chinese stock market as the nation's main index logged its biggest gain in eight weeks. They also welcomed a report indicating that the U.S. economy expanded at a much faster pace than previously estimated in the second quarter.

But mostly it was the opportunity to pick up shares that had been beaten down in the sell-off that drove the rebound. By Tuesday, the Standard & Poor's 500 index had tumbled more than 10 percent from the all-time high that it reached in May.

"Asset prices sold off so much and so drastically, people went in and did start to bottom-fish," said David Lyon, global investment specialist at J.P. Morgan Private Bank in San Francisco.

The Dow Jones industrial average climbed 369.26 points, or 2.3 percent, to 16,654.77. The index has recouped almost 1,000 points in the last two days. That's more than half of its losses during a sharp six-day slump.

The S&P 500 index gained 47.15 points, or 2.4 percent, to 1,987.66. The Nasdaq composite rose 115.17 points, or 2.5 percent, to 4,812.71.

Thursday's market action pushed the three indexes into positive territory for the week and nudged the Nasdaq out of the red for the year. The tech-heavy index now up 1.6 percent for the year, while the Dow and the S&P 500 are still lower.

Financial markets have been volatile since China decided to weaken its currency earlier this month, a move investors interpreted as an attempt to bolster a sagging economy.

But on Thursday the news out of China was more positive. The Shanghai Composite Index rose 5.3 percent, its first gain in six days. The index is rebounding from losses that triggered worldwide selling and wiped nearly 23 percent off its value over the past week.

Traders are also jittery about the outlook for interest rates. The Federal Reserve has signaled it could raise its key interest rate for the first time in nearly a decade later this year.

William Dudley, president of the New York Federal Reserve Bank, said Wednesday that the case for a U.S. interest rate hike in September is "less compelling" given China's troubles, weak oil prices and emerging markets weakness.

Stocks picked up early on Thursday as investors reacted to the rebound in the Chinese stock market and European stock indexes.

The Commerce Department provided a surprise boost, reporting that the economy, as measured by gross domestic product, expanded at an annual rate of 3.7 percent in the April-June quarter. That's a much bigger rebound in growth during the spring that previously estimated, and the strongest growth since last summer.

The report gave investors comfort that the global economy isn't headed for the kind of downturn that could lead into a recession, said Lyon.

"It's an adjustment to a global slowdown where the globe is just going to be growing at a low-to-moderate pace," he said.

All of the 10 sectors in the S&P 500 rose, led by energy stocks. The sector rose 4.9 percent, paring its losses for the year to 20 percent.

Freeport-McMoRan notched the biggest gain in the index. The copper producer said it is cutting spending, production and jobs as it deals with declining copper prices. Its stock climbed $2.27, or 28.7 percent, to $10.19.

Markets overseas also mounted rallies.

Germany's DAX gained 3.2 percent. France's CAC-40 increased 3.5 percent. Britain's FTSE 100 rose 3.6 percent.

In other Asian stock trading, Hong Kong's Hang Seng advanced 2.9 percent to 21,697.31 and Tokyo's Nikkei 225 added 1.1 percent to 18,574.44.

Oil soared to its biggest one-day gain since March 2009, lifted by rising global stock markets and a report showing the U.S. economy grew 3.7 percent in the second quarter. U.S. oil rose $3.96, or 10.3 percent, to $42.56 a barrel. Brent crude, an benchmark for international oils imported by U.S. refineries, rose $4.42, or 10.3 percent, to $47.56 in London.

In metals trading, gold fell $2 to $1,122.60 an ounce. Silver rose 37.60 cents to $14.42 an ounce. Copper gained 8.6 cents to $2.33 per pound.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.19 percent from 2.18 percent on Wednesday.

The dollar rose to 121.02 yen from Wednesday's 119.16 yen. The euro edged down to $1.1242 from the previous session's $1.1337.

In other futures trading:

”” Wholesale gasoline rose 10.19 cents to $1.435 a gallon

”” Heating oil gained 11.51 cents to $1.496 a gallon

”” Natural gas fell 5.5 cents to $2.638 per 1,000 cubic feet.
Rates


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-11.76	points or ▼	-0.07%	on	Friday, 28 August 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,643.01	▼	-11.76	▼	-0.07%		
	Nasdaq____	4,828.32	▲	15.62	▲	0.32%		
	S&P_500___	1,988.87	▲	1.21	▲	0.06%		
	30_Yr_Bond____	2.91	▲	0.01	▲	0.24%		

NYSE Volume	 3,945,702,750 	 	 	 	 	  		 
Nasdaq Volume	 1,924,061,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,247.94	▲	55.91	▲	0.90%		
	DAX_____	10,298.53	▼	-17.09	▼	-0.17%		
	CAC_40__	4,675.13	▲	16.95	▲	0.36%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,274.70	▲	32.10	▲	0.61%		
	Shanghai_Comp	3,232.35	▲	148.76	▲	4.82%		
	Taiwan_Weight	8,019.18	▲	194.63	▲	2.49%		
	Nikkei_225___	19,136.32	▲	561.88	▲	3.03%		
	Hang_Seng.__	21,612.39	▼	-226.15	▼	-1.04%		
	Strait_Times.__	2,955.94	▲	10.51	▲	0.36%		
	NZX_50_Index_	5,670.48	▲	35.54	▲	0.63%		

http://finance.yahoo.com/news/calm-wall-street-turbulent-week-214947046.html
*
Calm on Wall Street: A turbulent week ends on a placid note

Calm on Wall Street: A turbulent week ends on a placid note, but has the storm passed?*
Associated Press By Alex Veiga, AP Business Writer

Well, that was exciting.

Days after China threw the biggest scare into Wall Street in years, U.S. stocks have come surging back and ended the week Friday on a placid note that suggested the worst may be over for now.

Even so, investors are buckling their seat belts for more turbulence ahead.

The Dow Jones industrial average fell a scant 11.76 points Friday, or 0.1 percent, to 16,643.01, capping a week that saw stomach-churning losses and gains of around 600 points per day. The Standard & Poor's 500 index rose 1.21 points, or 0.1 percent, to 1,988.87. The Nasdaq composite added 15.62 points, or 0.3 percent, to 4,828.32.

U.S. stocks went into their swoon last week, mostly over signs of a slowdown in China, the world's second-biggest economy. Before the six-day losing streak had ended, the Dow had plummeted 1,900 points and the S&P 500 was undergoing its first "correction," a decline of 10 percent or more, in nearly four years.

But stocks soared at midweek, cutting the Dow's losses nearly in half, in a rally analysts attributed to bargain-hunting, signs that the Federal Reserve may hold off raising interest rates this fall, and a new report that said the U.S. economy is growing at a more robust rate than previously believed.

Still, the concerns that triggered the sell-off remain: slumping oil prices, a slowing Chinese economy, weak corporate earnings forecasts and uncertainty over interest rates.

That means there's likely to be more market volatility ahead, something that history backs up. September has been the worst month for stocks.

"For the last few years, let's face it, there's been very little volatility," said JJ Kinahan, TD Ameritrade's chief strategist. "We've had a very impressive rally. Not that we can't go higher, but it's not going to be an easy path to get there."

The S&P 500 is still nearly three times higher than its post-2008 financial crisis low in March 2009. The Dow is up roughly 2 1/2 times higher.

Despite the bounce-back this week, stocks are on course for their worst monthly performance in more than three years. The S&P 500 is down 5.5 percent in August, and the Dow is down 5.9 percent.

"That kind of volatility is really pretty scary," said Hans Chang, 33, who was visiting New York on Friday. Because he recently left his job, Chang has to sell investments he bought with stock options within 90 days — something he can't do now without taking a big loss.

But for other investors like James Day, a data management specialist in Ferndale, Michigan, the stock market swoon was a signal to buy low and boost his contributions to his 401(k).

"I'm not looking to retire tomorrow, so as far as I'm concerned, I have time," said Day, 43. "If I don't think I'm staring down the barrel of some long-term recession or unemployment, I look at these dips as an opportunity."

Investors can expect the volatility to continue at least until the market gets a better idea from the Fed on the timing of an interest rate increase, something many investors fear could put a damper on the U.S. economy.

Federal Reserve Vice Chairman Stanley Fischer said Friday that before the recent turbulence, there was a "pretty strong case" for raising rates in September. But he said the Fed is watching how events unfold.

Traders and strategists have often described the U.S. stock market as overbought. Even with the wild swings this week, investors are paying close to $18 for every $1 of earnings in the S&P 500 — above the $15 investors have historically paid for stocks after World War II.

"It's still an expensive market," said Kevin Dorwin, managing principal of San Francisco-based Bingham, Osborn & Scarborough. "We still need to see earnings growth or valuations improve, and absent that, it's hard to see how the market can move up."

Rob Lee, 64, of Melbourne, Australia, said he invests only small amounts of money in "very safe securities" because he wants to avoid the risk of sharp drops in the market like the one last week. But he added: "It'll bounce back. It always does."

3917


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-114.98	points or ▼	-0.69%	on	Monday, 31 August 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,528.03	▼	-114.98	▼	-0.69%		
	Nasdaq____	4,776.51	▼	-51.82	▼	-1.07%		
	S&P_500___	1,972.18	▼	-16.69	▼	-0.84%		
	30_Yr_Bond____	2.93	▲	0.02	▲	0.76%		

NYSE Volume	 3,910,697,000 	 	 	 	 	  		 
Nasdaq Volume	 1,773,095,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,247.94	▲	55.91	▲	0.90%	CLOSED BANK HOLIDAY	
	DAX_____	10,259.46	▼	-39.07	▼	-0.38%		
	CAC_40__	4,652.95	▼	-22.18	▼	-0.47%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,222.10	▼	-52.60	▼	-1.00%		
	Shanghai_Comp	3,205.99	▼	-26.36	▼	-0.82%		
	Taiwan_Weight	8,174.92	▲	155.74	▲	1.94%		
	Nikkei_225___	18,890.48	▼	-245.84	▼	-1.28%		
	Hang_Seng.__	21,670.58	▲	58.19	▲	0.27%		
	Strait_Times.__	2,921.44	▼	-34.50	▼	-1.17%		
	NZX_50_Index_	5,656.24	▼	-14.24	▼	-0.25%		

http://finance.yahoo.com/news/us-stocks-close-worst-month-201416508.html

*US stocks close out their worst month in 3 years

After weeks of turmoil, US stock market closes out its worst month in more than 3 years*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- August was a brutal month for investors.

Fears about a slowdown in China's economy and concerns about when the Federal Reserve will raise interest rates pushed stocks sharply lower this month. While the market recovered much of the ground it lost, the Standard & Poor's 500 index still finished August down 6.3 percent, its worst showing since May 2012.

The selling started midway through the month after China shocked investors by devaluating its currency. The move, an effort to boost China's economy, seemed to have the opposite effect. Global investors interpreted the decision as a sign that China's economy, the second-largest in the world, was growing more slowly than anticipated. That combined with another plunge in Chinese stocks sent off red flags in Asia, Europe and the Americas.

The selling was fierce and deep. Trading volume, which typically slows in summer, spiked. The S&P 500 index at one point fell into what's known as a "correction," which is when an index falls 10 percent or more from a recent high.

On Monday the declines were relatively modest. The Dow Jones industrial average gave up 114.98 points, or 0.7 percent, to close at 16,528.03. The S&P 500 lost 16.69 points, or 0.8 percent, to 1,972.18 and the Nasdaq composite lost 51.82 points, or 1.1 percent, to 4,776.51.

The losses had been deeper, but oil prices, which were solidly lower earlier in the day, jumped after the U.S. Energy Department cut its estimate for the country's oil production. The news sent energy stocks higher, making energy the only industry in the S&P 500 to close with a gain.

U.S. crude surged $3.98, or nearly 9 percent, to $49.20 a barrel in New York. Brent crude, the international standard, jumped $4.10 to $54.15 a barrel in London.

It wasn't like U.S. markets were in perfect shape before China's spooked them. Investors had recently trudged through a corporate earnings season which delivered only meager profit growth.

"Earnings growth is waning and stock valuations are either fully valued or even a little overvalued right now. I think the investor complacency we had earlier in the summer has made this market primed to overact to basically anything out there," said Scott Clemons, chief investment strategist at Brown Brothers Harriman Private Bank.

Things are not likely to change in September. Even setting aside the historical reputation of September being one of the toughest months for the market, investors will have to contend with the Federal Reserve's interest rate meeting on September 16 and 17 and more economic data from the U.S. and China that could drastically swing the market from one way to another.

"Concerns over slowing growth in China are unlikely to go away. Many investors have long awaited signs that China was on the verge of implosion," said Bob Doll, chief equity strategist at Nuveen Asset Management.

Investors are also keeping a close eye on the Federal Reserve.

Fed Vice Chairman Stanley Fischer said over the weekend that policymakers still had a "pretty strong case" for raising rates in September. That ran counter to recent market sentiment that China's economic slowdown and global market volatility might prompt the nation's central bank to wait.

Speaking at the Fed's annual gathering in Jackson Hole, Wyoming, Fischer emphasized he was not saying what action the Fed might take at its September meeting, but analysts took his comments to mean he saw the economy moving close to satisfying the Fed's conditions for a hike. The Fed has kept rates ultra-low since the 2008 financial crisis.

Asian markets had another bumpy day. The Shanghai Composite Index fell as much as 2.6 percent, but recovered to close 0.8 percent lower. Hong Kong's Hang Seng also spent most of the day in the red before closing up 0.3 percent. Tokyo's Nikkei 225 lost 1.3 percent.

European stocks also fell. Germany's DAX lost 0.4 percent and France's CAC-40 lost 0.5 percent. U.K.'s markets were closed for a holiday.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.22 percent from 2.18 percent late Friday. The dollar declined to 121.22 yen from 121.38 yen on Friday. The euro rose to $1.120 from $1.1180.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-469.68	points or ▼	-2.84%	on	Tuesday, 1 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,058.35	▼	-469.68	▼	-2.84%		
	Nasdaq____	4,636.10	▼	-140.40	▼	-2.94%		
	S&P_500___	1,913.85	▼	-58.33	▼	-2.96%		
	30_Yr_Bond____	2.93	▲	0.00	▲	0.03%		

NYSE Volume	 4,367,756,500 	 	 	 	 	  		 
Nasdaq Volume	 2,238,005,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,058.54	▼	-189.40	▼	-3.03%		
	DAX_____	10,015.57	▼	-243.89	▼	-2.38%		
	CAC_40__	4,541.16	▼	-111.79	▼	-2.40%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,117.10	▼	-105.00	▼	-2.01%		
	Shanghai_Comp	3,166.62	▼	-39.36	▼	-1.23%		
	Taiwan_Weight	8,017.56	▼	-157.36	▼	-1.92%		
	Nikkei_225___	18,165.69	▼	-724.79	▼	-3.84%		
	Hang_Seng.__	21,185.43	▼	-485.15	▼	-2.24%		
	Strait_Times.__	2,882.77	▼	-38.67	▼	-1.32%		
	NZX_50_Index_	5,654.99	▼	-1.25	▼	-0.02%		

http://finance.yahoo.com/news/us-stocks-plunge-bleak-chinese-200928294.html

*US stocks plunge after bleak Chinese manufacturing report

US, global stocks fall sharply on more signs of weakness in China's economy*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks plunged again Tuesday, continuing a rocky ride for Wall Street, after an economic report out of China rekindled fears that the world's second-largest economy is slowing more than previously anticipated.

The sell-off adds to what has been a difficult few weeks for U.S. and international markets. U.S. stocks just closed out their worst month in more than three years. Tuesday's drop also dashed hopes that, after some relatively calm trading Friday and Monday, the stock market's wild swings were coming to an end.

"This market remains fragile," said Jack Ablin, chief investment officer at BMO Private Bank. "There's nothing fundamentally wrong with the U.S. economy, but we are going through this correction process. We've got a rocky road ahead of us."

Stocks started the day sharply lower and never recovered, with the Dow Jones industrial average falling as much as 548 points. No part of the market was spared. All 10 sectors of the Standard & Poor's 500 index fell more than 2 percent. Just three stocks in the S&P 500 closed higher.

"Monday's relatively peaceful markets are a distant memory as Chinese data and shares sparked another severe ... reaction from the developed world," said John Briggs, head of fixed income strategy at RBS.

In the end, the Dow lost 469.68 points, or 2.8 percent, to 16,058.35. The S&P 500 fell 58.33 points, or 3 percent, to 1,913.85 and the Nasdaq composite fell 140.40 points, 2.9 percent, to 4,636.10.

As it's been for the last several weeks, the selling and problems started in Asia.

An official gauge of Chinese manufacturing fell to a three-year low last month, another sign of slowing growth in that country. The manufacturing index, which surveys purchasing managers at factories, dropped to a reading of 49.7 in August from 50.0 in July. A reading below 50 indicates a contraction.

China's stocks sank on the news, with Shanghai Composite Index closing down 1.2 percent. The index has lost 38 percent of its value since hitting a peak in June.

The Chinese economy has been a focus for investors all summer, and the concerns have intensified in the last three weeks. China devalued its currency, the renminbi, in mid-August. Investors interpreted the move as a sign that China's economy was not doing as well as previously reported.

Investors moved into traditional havens like bonds and gold Tuesday. Bond prices rose, pushing the yield on the benchmark 10-year Treasury note down to 2.16 percent from 2.22 percent on Monday. Gold rose $7.30, or 0.6 percent, to settle at $1,139.80 an ounce.

Faced with the possibility of slowing demand in China, the commodity markets once again took the brunt of the hit.

U.S. crude oil fell $3.79 to close at $45.41 a barrel in New York. Brent Crude, a benchmark for international oils used by many U.S. refineries, fell $4.59 to close at $49.56 in London.

Energy stocks were once again among the biggest decliners. Exxon Mobil fell nearly 4 percent and Chevron fell 2.5 percent. Exxon is down 22 percent this year, Chevron 30 percent.

In a sign of how battered energy companies have been this year, ConocoPhillips announced it was laying off 10 percent of its workers, roughly 1,800 workers, as a reaction this year's plunge in oil prices.

Along with worries about China, speculation about whether or not the Federal Reserve will raise interest rates as soon as this month continues to weigh on markets. Traders say a lot hinges on the August jobs report, which will be released this Friday. Economists are forecasting that U.S. employers created 220,000 jobs in the month and that the unemployment rate fell to 5.2 percent.

The Federal Reserve meets September 16 and 17. Some economists are predicting that policymakers will be confident enough in the U.S. economic recovery to raise interest rates for the first time in almost a decade. While Fed officials are mostly focused on the U.S. economy, they cannot ignore problems in the global economy.

"China's problems are totally a concern for the Fed," said Tom di Galoma, head of rates trading at ED&F Man Capital. "With inflation remaining low here, I just don't a reason why they would raise rates."

Markets in Europe were broadly lower. Germany's DAX fell 2.4 percent, France's CAC-40 lost 2.4 percent and the U.K.'s FTSE 100 index declined 3 percent. Japan's Nikkei 225 was also volatile, dropping 3.8 percent. The Hang Seng in Hong Kong sank 2.2 percent. Stocks also fell in South Korea and Australia.

The dollar fell to 119.68 yen from 121.20 yen on Monday. The euro rose to $1.1307 from $1.1225.

In other energy markets, wholesale gasoline fell 10.3 cents to close at $1.396 a gallon, heating oil fell 12.3 cents to close at $1.578 a gallon and natural gas rose 1.3 cents to close at $2.702 per 1,000 cubic feet.

Copper lost 4 cents to $2.30 a pound and palladium slumped $23.05 to $578.50 an ounce. The price of silver edged down four cents to $14.61 an ounce and platinum edged down $2.10 to $1,008.40 an ounce.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	293.03	points or ▲	1.82%	on	Wednesday, 2 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,351.38	▲	293.03	▲	1.82%		
	Nasdaq____	4,749.98	▲	113.87	▲	2.46%		
	S&P_500___	1,948.86	▲	35.01	▲	1.83%		
	30_Yr_Bond____	2.96	▲	0.03	▲	1.13%		

NYSE Volume	 3,739,001,750 	 	 	 	 	  		 
Nasdaq Volume	 1,915,223,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,083.31	▲	24.77	▲	0.41%		
	DAX_____	10,048.05	▲	32.48	▲	0.32%		
	CAC_40__	4,554.92	▲	13.76	▲	0.30%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,119.40	▲	2.30	▲	0.04%		
	Shanghai_Comp	3,160.17	▼	-6.46	▼	-0.20%		
	Taiwan_Weight	8,035.29	▲	17.73	▲	0.22%		
	Nikkei_225___	18,095.40	▼	-70.29	▼	-0.39%		
	Hang_Seng.__	20,934.94	▼	-250.49	▼	-1.18%		
	Strait_Times.__	2,878.13	▼	-4.64	▼	-0.16%		
	NZX_50_Index_	5,590.21	▼	-64.78	▼	-1.15%		

http://finance.yahoo.com/news/us-markets-rebound-day-big-175523715.html

*US markets rebound a day after big plunge

US stocks rebound a day after plunging on fears about slowing growth in China*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- U.S. stocks rebounded Wednesday, recovering a significant portion of their losses from the day earlier. Investors remain on edge after the latest market plunge, which was triggered by more signs of slowing growth in China.

The market still has a lot of ground to make up following last week's major declines.

The Dow Jones industrial average added 293.03 points, or 1.8 percent, to 16,351.38. That index fell more than 470 points the day before. The Standard & Poor's 500 rose 35.01 points, or 1.8 percent, to 1,948.86 and the Nasdaq composite rose 113.87 points, or 2.5 percent, 4,749.98.

Tax preparation company H&R Block was the biggest gainer in the S&P 500, rising $2.47, or 7.5 percent, to $35.42. The company reported a smaller-than-expected loss and announced a $3.5 billion stock buyback program.

The market has been bouncing around sharply the last few weeks following signs of weakness in China and uncertainty over when the Federal Reserve will begin raising interest rates. Triple-digit moves in the Dow have been an almost daily occurrence in the past month.

"Investors should expect more volatility," said Mark Luschini, chief investment strategist for Janney Montgomery Scott. "The market needs to work through this correction, and that could take weeks, or maybe months."

While China remains a dominant force in traders' minds, investors are now turning their attentions toward the U.S.

A private survey showed that U.S. businesses added jobs at a steady pace last month, with construction and manufacturing showing solid gains. The payroll processor ADP said businesses added 190,000 jobs last month, up from 177,000 in July, but below a six-month high set in June of 231,000.

The ADP report comes two days before Friday's August jobs report. Economists are forecasting that U.S. employers created 220,000 jobs in August, and that the unemployment rate fell to 5.2 percent.

It will be the last jobs report Federal Reserve policymakers have before their next policy meeting later this month. Some economists expect the Fed to raise interest rates for the first time in close to a decade after the meeting.

China remains in focus across financial markets. The Shanghai composite index opened more than 4 percent lower, but turned positive by midday and eventually ended the day down just 0.2 percent. The volatile trading led some analysts to suspect Beijing was intervening to support share prices before a two-day holiday.

Tracking Chinese shares, other Asian benchmarks swung between gains and losses. Hong Kong's Hang Seng sank 1.2 percent. Japan's benchmark Nikkei 225 index slipped 0.4 percent.

Europe closed modestly higher. Germany's DAX rose 0.3 percent, France's CAC 40 rose 0.3 percent and the U.K.'s FTSE 100 rose 0.4 percent.

Oil ended a choppy day higher after an Energy Department report showed a decline in fuel supplies, which suggests rising demand. U.S. crude rose 84 cents to close at $46.25 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 94 cents to close at $50.50 a barrel in London.

In other futures trading on the NYMEX, wholesale gasoline rose 2.9 cents to close at $1.425 a gallon, heating oil rose 3.1 cents to close at $1.609 a gallon and natural gas fell 5.4 cents to close at $2.648 per 1,000 cubic feet.

U.S. government bond prices fell, pushing the yield on the benchmark 10-year Treasury note up to 2.19 percent from 2.15 percent on Tuesday.

The euro was 0.5 percent lower at $1.1234, a day ahead of the European Central Bank's latest policy meeting. The dollar rose 0.3 percent to 120.25 yen.

The price of gold edged down $6.20 to $1,133.60 an ounce, silver slipped five cents to $14.66 an ounce and copper rose three cents to $2.33 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

*TWO DAY HOLIDAY	IN CHINA BEGINS THURSDAY - FRIDAY	* 

 *The NYSE DOW closed  	HIGHER ▲	23.38	points or ▲	0.14%	on	Thursday, 3 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,374.76	▲	23.38	▲	0.14%		
	Nasdaq____	4,733.50	▼	-16.48	▼	-0.35%		
	S&P_500___	1,951.13	▲	2.27	▲	0.12%		
	30_Yr_Bond____	2.95	▼	-0.02	▼	-0.57%		

NYSE Volume	 3,507,499,250 	 	 	 	 	  		 
Nasdaq Volume	 1,792,551,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,194.10	▲	110.79	▲	1.82%		
	DAX_____	10,317.84	▲	269.79	▲	2.68%		
	CAC_40__	4,653.79	▲	98.87	▲	2.17%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,048.70	▼	-70.70	▼	-1.38%		
	Shanghai_Comp	3,160.17	▼	-6.46	▼	-0.20%	TWO DAY HOLIDAY	IN CHINA
	Taiwan_Weight	8,095.95	▲	60.66	▲	0.75%		
	Nikkei_225___	18,182.39	▲	86.99	▲	0.48%		
	Hang_Seng.__	20,934.94	▼	-250.49	▼	-1.18%	TWO DAY HOLIDAY	IN CHINA	
	Strait_Times.__	2,906.43	▲	28.30	▲	0.98%		
	NZX_50_Index_	5,569.68	▼	-20.53	▼	-0.37%		

http://finance.yahoo.com/news/stocks-gain-european-central-bank-184126165.html

*Stocks gain as European central bank says it's ready to act

Stocks edge higher as European Central Bank says it's ready to provide more support if needed*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- U.S. stocks moved slightly higher Thursday as markets calmed after a recent bout of turmoil. Investors were encouraged by comments from European Central Bank policymakers, who said they were willing to provide more stimulus to the region's economy, if needed.

Investors now turn to Friday, when a key jobs report will be released that could help determine whether or not the Federal Reserve raises interest rates this month.

"There's a lot of trepidation in the market over what the Fed will do, and it's only getting worse as we get closer to the meeting," said Kristina Hooper, head of investment strategies at Allianz Global Investors. The Fed's two-day meeting begins Sept. 16.

The Dow Jones industrial average added 23.38 points, or 0.1 percent, to 16,374.76. The Standard & Poor's 500 index rose 2.27 points, or 0.1 percent, to 1,951.13 and the Nasdaq composite fell 16.48 points, or 0.4 percent, to 4,733.50.

Stocks started the day solidly higher, but momentum waned as the day dragged on. Major indexes dipped briefly into the red by mid-afternoon before ending mostly higher.

Investors were initially encouraged by news out of the European Central Bank, where President Mario Draghi said the bank is ready to give the eurozone a bigger dose of stimulus should inflation across the 19-country bloc fail to pick up. Along with keeping interest rates low, the ECB is pumping 60 billion euros a month into the region's economy through purchases of government and corporate bonds. The program is slated to run at least through September 2016.

"Draghi said in 2012 he would do whatever it takes to grow the eurozone economy and he's holding to that promise," said Quincy Krosby, a market strategist at Prudential Financial.

European markets jumped on the news. Germany's DAX closed up 2.7 percent, France's CAC-40 rose 2.2 percent and U.K.'s FTSE 100 rose 1.8 percent.

At the same time the ECB is stimulating Europe's economy, the Federal Reserve could raise U.S. interest rates for the first time since the financial crisis. While chances of a September interest rate increase have diminished because of signs of weakening global growth and a sell-off in Chinese stocks, many believe the growing U.S. economy may be ready to withstand higher interest rates.

Friday's jobs report for August, a key gauge of how the U.S. economy is doing, could play a big role in guiding that decision by the Fed. Economists are forecasting that employers created 220,000 jobs last month and that the unemployment rate fell to 5.2 percent.

The price of oil followed the stock market higher. U.S. crude rose 50 cents to close at $46.75 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 18 cents to close at $50.68 a barrel in London.

In other futures trading on the NYMEX:

— Wholesale gasoline rose 1.2 cents to close at $1.437 a gallon.

— Heating oil rose 1 cent to close at $1.619 a gallon.

— Natural gas rose 7.7 cents to close at $2.725 per 1,000 cubic feet.

In other markets, U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.16 percent from 2.19 percent late Wednesday. The euro fell to $1.1134 from $1.1238. The dollar fell to 119.91 yen from 120.24 yen.

The price of gold fell $9.10 to settle at $1,124.50 an ounce, silver rose four cents to $14.70 an ounce and copper rose six cents to $2.39 a pound.


----------



## bigdog

* U.S. markets will be closed on Monday in observance of the holiday. However, the Chinese stock market, which has been closed for a two-day holiday, will reopen.*

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-272.38	points or ▼	-1.66%	on	Friday, 4 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,102.38	▼	-272.38	▼	-1.66%		
	Nasdaq____	4,683.92	▼	-49.58	▼	-1.05%		
	S&P_500___	1,921.22	▼	-29.91	▼	-1.53%		
	30_Yr_Bond____	2.89	▼	-0.06	▼	-1.97%		

NYSE Volume	 3,170,086,750 	 	 	 	 	  		 
Nasdaq Volume	 1,565,390,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,042.92	▼	-151.18	▼	-2.44%		
	DAX_____	10,038.04	▼	-279.80	▼	-2.71%		
	CAC_40__	4,523.08	▼	-130.71	▼	-2.81%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,060.80	▲	12.10	▲	0.24%		
	Shanghai_Comp	3,160.17	▼	-6.46	▼	-0.20%	HOLIDAY	
	Taiwan_Weight	8,000.60	▼	-95.35	▼	-1.18%		
	Nikkei_225___	17,792.16	▼	-390.23	▼	-2.15%		
	Hang_Seng.__	20,840.61	▼	-94.33	▼	-0.45%	HOLIDAY	
	Strait_Times.__	2,863.81	▼	-42.62	▼	-1.47%		
	NZX_50_Index_	5,546.88	▼	-22.80	▼	-0.41%		

http://finance.yahoo.com/news/us-stocks-drop-mixed-jobs-205315628.html

*US stocks drop; mixed jobs report clouds rate outlook

US stocks sink as mixed jobs report keeps investors guessing about the rate outlook*
Associated Press By Steve Rothwell, Business Writer

NEW YORK (AP) -- It's an adage that investors hate uncertainty. Unfortunately for them, they got more of it on Friday.

The stock market has been volatile for weeks on concern that China's economy is slowing more rapidly than previously thought. But investors have also had to contend with uncertainty about the outlook for interest rates.

Investors had been hoping that the government's August jobs report would give them more clarity on interest rates, before a key Federal Reserve meeting later this month. However, a mixed report left them guessing as to whether policymakers will feel confident enough about the strength of the U.S. economy to raise interest rates from historic lows.

The report showed that the U.S. unemployment rate fell to a seven-year low in August, but also that employers added fewer jobs than forecast.

"It's interesting and disappointing that today's data didn't provide us with that 'Ah-ha!' clarity that everyone is seeking," said Michael Arone, Chief Investment Strategist at State Street Global Advisors.

The Dow Jones industrial average fell 272.38 points, or 1.7 percent, to 16,102.38. The Standard & Poor's 500 index gave up 29.91 points, or 1.5 percent, to 1,921.22. The Nasdaq composite slipped 49.58 points, or 1.1 percent, to 4,683.92.

Fed policymakers have kept their benchmark interest rate close to zero since late 2008 to help revive the economy after the Great Recession. Those low rates have also been good for the stock market, supporting a bull run that has lasted for more than six years.

On Friday, the S&P 500 ended the week down 3.4 percent, its second-worst weekly drop of the year. The index is down nearly 10 percent from its peak of 2,130.82 reached May 21.

Much of the damage this week was done on Tuesday, after gloomy manufacturing data out of China rekindled fears about the health of the world's second-largest economy.

But despite the big drop in stocks, some strategists say that much of the evidence suggests the U.S. economy is maintaining its recovery. A report this week showed robust growth in the service industry.

"As China is sneezing, there is very little to suggest that the U.S. is catching a cold," said Jeremy Zirin, chief U.S. equity strategist for Wealth Management Research at UBS.

Trading volume was lighter than usual ahead of the Labor Day holiday. U.S. markets will be closed on Monday in observance of the holiday. However, the Chinese stock market, which has been closed for a two-day holiday, will reopen.

Among individual stocks, Netflix continued its slide on Friday. The company's stock has slumped for six straight days and closed the week down 16 percent on speculation that competition from rivals including Amazon and Hulu is intensifying. Variety also reported Monday that Apple is exploring a move into original programming.

Bond prices edged up after the jobs report, pushing the yield on the benchmark 10-year Treasury note down to 2.13 percent from 2.16 percent on Thursday.

In Europe, the FTSE 100 index of leading British shares was down 2.4 percent, Germany's DAX fell 2.7 percent. The CAC-40 in France was 2.8 percent lower.

The euro edged up to $1.1151. The dollar fell 1 percent against the Japanese currency, to 118.99 yen.

In metals trading, the price of gold fell $3.10 to settle at $1,121.50 an ounce, silver fell 16 cents to $14.54 an ounce and copper declined seven cents to $2.32 a pound.

The price of oil fell along with stocks but pared its losses after a closely watched count of active drilling rigs in the U.S. fell. Crude declined 70 cents to close at $46.05 a barrel in New York. Brent Crude, a benchmark for international oils used by many U.S. refineries, fell $1.07 to close at $49.61 a barrel in London.

In other futures trading on the NYMEX:

— Wholesale gasoline fell 1.9 cents to close at $1.418 a gallon.

— Heating oil fell 2.3 cent to close at $1.596 a gallon.

— Natural gas fell 7 cents to close at $2.655 per 1,000 cubic feet.

4519


----------



## bigdog

*U.S. markets will be closed on Monday in observance of the holiday.*

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-272.38	points or ▼	-1.66%	on	Monday, 7 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,102.38	▼	-272.38	▼	-1.66%		CLOSED for HOLIDAY
	Nasdaq____	4,683.92	▼	-49.58	▼	-1.05%	CLOSED for HOLIDAY	
	S&P_500___	1,921.22	▼	-29.91	▼	-1.53%	CLOSED for HOLIDAY	
	30_Yr_Bond____	2.89	▼	-0.06	▼	-1.97%	CLOSED for HOLIDAY	

NYSE Volume	 3,170,366,000 	 	 	 	 	  		 
Nasdaq Volume	 1,567,149,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,074.52	▲	31.60	▲	0.52%		
	DAX_____	10,108.61	▲	70.57	▲	0.70%		
	CAC_40__	4,549.64	▲	26.56	▲	0.59%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,051.00	▼	-9.80	▼	-0.19%		
	Shanghai_Comp	3,080.42	▼	-79.75	▼	-2.52%		
	Taiwan_Weight	7,986.56	▼	-14.04	▼	-0.18%		
	Nikkei_225___	17,860.47	▲	68.31	▲	0.38%		
	Hang_Seng.__	20,583.52	▼	-257.09	▼	-1.23%		
	Strait_Times.__	2,852.41	▼	-11.40	▼	-0.40%		
	NZX_50_Index_	5,572.73	▲	25.85	▲	0.47%		

http://finance.yahoo.com/news/european-markets-soothed-chinese-assurances-130548350.html


*European markets soothed by Chinese assurances

Despite earlier Asian weakness, European markets soothed by China assurances*
Associated Press By The Associated Press

LONDON (AP) -- Attempts by Chinese officials to reassure investors helped European markets post some modest gains Monday, on a day when trading activity was diminished by a U.S. holiday.

KEEPING SCORE: In Europe, France's CAC-40 closed up 0.6 percent at 4,549.64 while Germany's DAX rose 0.7 percent to 10,108.61. The FTSE 100 index of leading British shares ended 0.5 percent higher at 6,074.52. Wall Street was closed Monday for the Labor Day holiday.

CHINA RHETORIC: China's central bank governor, finance minister and securities agency all tried to reassure investors over the weekend that market turmoil was ending. At a meeting of the Group of 20 major economies. People's Bank of China Gov. Zhou Xiaochuan said Beijing's intervention averted a bigger crisis, according to a central bank statement.

ASIA'S DAY: Despite those attempts to reassure, the Shanghai Composite Index ended 2.5 percent lower to 3,080.42 after fluctuating between gains and losses. Hong Kong's Hang Seng lost 1.2 percent to 20,583.52. Tokyo's Nikkei 225 rose 0.4 percent to 17,860.47 while India's Sensex declined 0.3 percent to 23,135.45. Sydney's S&P/ASX 200 shed 0.2 percent to 5,030.40 and Seoul's Kospi was off 0.2 percent at 1,883.22.

US JITTERS: The U.S. remains in focus in the run-up to next week's policy meeting of the Federal Reserve. A mixed August jobs report has left investors wondering what the Fed will do. Friday's figures showed the U.S. unemployment rate fell to a seven-year low but employers adding fewer jobs than forecast. The Fed has kept its benchmark interest rate close to zero since late 2008, which has pushed up stock prices.

ANALYST TAKE: "Given that Chinese investors are back after a short break last week, coupled with increased uncertainty about the Fed's next policy move ... stock market volatility could remain high," said Fawad Razaqzada, technical analyst at Forex.com.

ENERGY: Benchmark U.S. crude fell $1.50 to $44.55 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, used to price international oils, lost $1.70 to $47.91 in London.

CURRENCIES: Trading in currency markets was subdued with the euro up 0.2 percent at $1.1171 and the dollar 0.3 percent higher at 119.35 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	390.3	points or ▲	2.42%	on	Tuesday, 8 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,492.68	▲	390.30	▲	2.42%		
	Nasdaq____	4,811.93	▲	128.01	▲	2.73%		
	S&P_500___	1,969.41	▲	48.19	▲	2.51%		
	30_Yr_Bond____	2.97	▲	0.08	▲	2.77%		

NYSE Volume	 3,545,702,500 	 	 	 	 	  		 
Nasdaq Volume	 1,755,654,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,146.10	▲	71.58	▲	1.18%		
	DAX_____	10,271.36	▲	162.75	▲	1.61%		
	CAC_40__	4,598.26	▲	48.62	▲	1.07%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,133.50	▲	82.50	▲	1.63%		
	Shanghai_Comp	3,170.45	▲	90.03	▲	2.92%		
	Taiwan_Weight	8,001.50	▲	14.94	▲	0.19%		
	Nikkei_225___	17,427.08	▼	-433.39	▼	-2.43%		
	Hang_Seng.__	21,259.04	▲	675.52	▲	3.28%		
	Strait_Times.__	2,885.32	▲	32.91	▲	1.15%		
	NZX_50_Index_	5,610.31	▲	37.58	▲	0.67%		

http://finance.yahoo.com/news/us-stocks-surge-getting-boost-190248859.html

US stocks surge, getting a boost from China's rally

US stocks surge as market volatility continues; Dow average has its biggest gain in 2 weeks
Associated Press By Steve Rothwell, AP Business Writer

NEW YORK (AP) -- The wild ride for investors continued on Tuesday.

Stocks surged to their second-biggest gain of the year, more than wiping out a big loss from Friday and leaving the Dow Jones industrial average down just slightly for the month.

The market was rebounding from a steep sell-off last week, when a mixed jobs report left investors uncertain about the outlook for interest rates.

Big moves have become commonplace in financial markets in recent weeks as investors have worried about the health of the Chinese economy and the outlook for U.S. interest rates. Many slumps have been followed by strong rebounds.

Some strategists believe a sell-off in stocks that began in the middle of August is over, while others say that there may still be more selling.

"There is some value out there, but I'm not fully convinced that the selling pressure is out of the picture," said Robert Pavlik, chief market strategist at Boston Private Wealth.

The Standard & Poor's 500 index gained 48.19 points, or 2.5 percent, to 1,969.41. The Dow rose 390.30 points, or 2.4 percent, to 16,492.68. The Nasdaq composite climbed 128.01 points, or 2.7 percent, to 4,811.93 points.

Trading was closed in the U.S. on Monday in observance of the Labor Day holiday.

Traders were encouraged by a rebound in China's stock market despite some disappointing news on its economy.

The country's exports shrank 5.5 percent last month compared with a year earlier, while imports tumbled 13.8 percent. August's figures were hit by disruption from a massive explosion at the busy Tianjin port and government-enforced factory shutdowns in the run-up to a huge military parade in Beijing last week. China's trade has been weak for months, reflecting muted global demand and a domestic slowdown.

Despite the disappointing reports, China's Shanghai Composite Index jumped 2.9 percent in a rebound from losses earlier in the day. A big slump in the Chinese markets this year has unsettled investors.

Investors also got some encouraging news on mergers.

General Electric surged on reports that the European Union is set to approve its $17 billion acquisition of Alstom SA's power business. The deal was announced in June last year. GE climbed 96 cents, or 4 percent, to $24.96.

Teco Energy soared after agreeing to be acquired by the Canadian energy and services company Emera for about $6.5 billion. Teco's stock rose $5.27, or 25 percent, to $26.34.

Meredith jumped $4.53, or 9.9 percent, to $50.47 after agreeing to be acquired by rival media company Media General.

The deal news was a good sign for investors because it signaled that executives and investors still believe that stock prices are at reasonable levels, said Quincy Krosby, a market strategist for Prudential Financial.

"We expect to see more deals, and the more deals that are announced the more helpful it will be," said Krosby.

In Europe, Germany's DAX advanced 1.6 percent, Britain's FTSE 100 climbed 1.2 percent and the CAC 40 in France gained 1.1 percent.

U.S. government bond prices fell, pushing the yield on the 10-year benchmark Treasury note up to 2.18 percent from 2.13 percent on Friday. The euro rose to $1.1182 from $1.1168. The dollar rose to 119.76 from 119.39 yen.

In metals trading, Gold was little changed at $1,121 an ounce. Silver rose 21 cents to $14.75 an ounce and copper rose 12 cents to $2.43 per pound.

The price of oil slipped slightly Tuesday as traders weighed continuing supply concerns against the possibility of rising demand in the U.S. US. crude fell 11 cents to close at $45.94 a barrel in New York. Brent Crude, a benchmark for international oils used by many U.S. refineries, rose $1.89 to close at $49.52 in London, reversing Monday's steep decline.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 1.6 cents to close at $1.402 a gallon.

”” Heating oil fell 0.2 cent to close at $1.594 a gallon.

”” Natural gas rose 5.5 cents to close at $2.710 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-239.11	points or ▼	-1.45%	on	Wednesday, 9 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,253.57	▼	-239.11	▼	-1.45%		
	Nasdaq____	4,756.53	▼	-55.40	▼	-1.15%		
	S&P_500___	1,942.04	▼	-27.37	▼	-1.39%		
	30_Yr_Bond____	2.94	▼	-0.03	▼	-0.91%		

NYSE Volume	 3,628,215,250 	 	 	 	 	  		 
Nasdaq Volume	 1,946,431,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,229.01	▲	82.91	▲	1.35%		
	DAX_____	10,303.12	▲	31.76	▲	0.31%		
	CAC_40__	4,664.59	▲	66.33	▲	1.44%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,236.90	▲	103.40	▲	2.01%		
	Shanghai_Comp	3,243.09	▲	72.64	▲	2.29%		
	Taiwan_Weight	8,286.92	▲	285.42	▲	3.57%		
	Nikkei_225___	18,770.51	▲	1,343.43	▲	7.71%		
	Hang_Seng.__	22,131.31	▲	872.27	▲	4.10%		
	Strait_Times.__	2,928.18	▲	42.86	▲	1.49%		
	NZX_50_Index_	5,671.42	▲	61.11	▲	1.09%		

http://finance.yahoo.com/news/stocks-fall-jobs-data-raise-205652232.html

*Stocks fall as jobs data raise chances of rate increase

Stocks fall as jobs data raise chances of September rate increase; energy stocks lead decline*
Associated Press By Steve Rothwell and Bernard Condon, AP Business Writers

NEW YORK (AP) -- A strong morning rally for stocks turned into an afternoon sell-off on Wednesday, reminding investors that the market remains volatile.

Stocks started the day with sharp gains on optimism that policymakers in Asia will do more to help boost growth in the region. Japan's stock market logged its biggest gain in almost seven years after comments from the country's prime minister raised expectations of more measures to shore up economic growth.

The stock market then drifted gradually lower after a classic good-news-is-bad-news moment. A government report released at midmorning showed that the number of available jobs jumped sharply in July to the highest level in 15 years. That added to evidence that hiring remains strong and may prompt Federal Reserve policymakers to raise interest rates at their next meeting later this month.

By the close, the Dow Jones industrial average had swung more than 400 points from its peak of the day. The index had surged a day earlier, logging its second-best day of the year.

The report "poured a bit of cold water on the market," said Karen Cavanaugh, a senior market strategist at Voya Financial. "We will definitely have some more volatility, but that's part of a normal market."

The Dow ended 239.11 points, or 1.5 percent, lower at 16,253.57. The Standard & Poor's 500 index dropped 27.37 points, or 0.8 percent, to 1,942.04. The Nasdaq composite fell 55.40 points, or 1.2 percent, to 4,756.53.

Job openings soared 8 percent to 5.75 million in July, the most since records began in 2000, the Labor Department said Wednesday. A separate report on Friday showed that U.S. unemployment fell to a seven-year low of 5.1 percent last month. If the hiring situation continues to improve it could potentially lead to higher wages and rising inflation.

Policymakers have held the Fed's benchmark interest rates close to zero for almost eight years. The backdrop of low interest rates has been good for stocks, underpinning a 6  ½ year-long bull market. That dynamic may change if signs of an improving economy push policymakers toward lifting rates for the first time in close to a decade.

"The Fed has been one of the main supports of the stock market and the economy," said Kate Warne, an investment strategist at Edward Jones. "It's not a surprise that as it starts to move away from its extraordinary support that investors feel a bit nervous about what happens next."

Declines on Wednesday were led by energy stocks, which fell as the price of oil slumped for a third straight day.

Oil dropped on concerns that global supplies are still outpacing demand. U.S. crude fell $1.79 to close at $44.15 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.94 to close at $47.58 in London.

U.S. stocks had a strong opening after big gains in Asia.

Japan's Nikkei 225 soared after comments from Prime Minister Shinzo Abe that raised expectations of more measures to shore up economic growth under his "Abenomics" stimulus program. The Nikkei rose 7.7 percent, its biggest one-day rise since October 2008.

Investors were also comforted by comments from China's No. 2 leader, who tried to ease concerns about its economic slowdown. Premier Li Keqiang said the nation's growth is in the "proper range" and Beijing has no plans to allow its currency to decline further following the surprise devaluation on Aug. 11.

Among individual stock movers on Tuesday, Barnes & Noble was a big loser.

The book retailers' stock sank $4.50, or 28 percent, to $11.80 after the troubled bookseller reported a wider first-quarter loss as sales of its Nook e-reader and digital books fell sharply. Its college bookstore business, which was the only unit to post an increase in sales in the quarter, was spun off last month.

Netflix was the biggest gainer in the S&P 500 index.

The video streaming company snapped a seven-day losing streak, gaining $4.23, or 4.5 percent, to $99.18 after the company said it would bring its service to four more Asian countries next year.

In Europe, France's CAC 40 advanced 1.4 percent. Germany's DAX rose 0.3 percent. Britain's FTSE 100 rose 1.3 percent.

In government bond trading, prices were little changed. The yield on the 10-year Treasury note held steady at 2.19 percent a day earlier. The dollar rose 0.2 percent against the euro to $1.1194 and gained against the yen, climbing 0.7 percent to 120.67.

The price of gold fell $19 to $1,102 an ounce. Silver fell 18 cents to $14.57 an ounce and copper edged up less than a penny to $2.44 per pound.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 4.2 cents to close at $1.360 a gallon.

”” Heating oil fell 5.5 cent to close at $1.539 a gallon.

”” Natural gas fell 5.9 cents to close at $2.651 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	76.83	points or ▲	0.47%	on	Thursday, 10 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,330.40	▲	76.83	▲	0.47%		
	Nasdaq____	4,796.25	▲	39.72	▲	0.84%		
	S&P_500___	1,952.29	▲	10.25	▲	0.53%		
	30_Yr_Bond____	2.99	▲	0.04	▲	1.53%		

NYSE Volume	 3,623,870,500 	 	 	 	 	  		 
Nasdaq Volume	 1,837,061,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,157.69	▼	-71.32	▼	-1.14%		
	DAX_____	10,210.44	▼	-92.68	▼	-0.90%		
	CAC_40__	4,596.53	▼	-68.06	▼	-1.46%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,117.00	▼	-119.90	▼	-2.29%		
	Shanghai_Comp	3,197.89	▼	-45.20	▼	-1.39%		
	Taiwan_Weight	8,268.68	▼	-18.24	▼	-0.22%		
	Nikkei_225___	18,299.62	▼	-470.89	▼	-2.51%		
	Hang_Seng.__	21,562.50	▼	-568.81	▼	-2.57%		
	Strait_Times.__	2,888.03	▼	-40.15	▼	-1.37%		
	NZX_50_Index_	5,670.99	▼	-0.43	▼	-0.01%		

http://finance.yahoo.com/news/us-stocks-close-higher-investors-201321300.html

*US stocks close higher as investors parse Fed's next move

US stocks close with modest gains, bucking global losing trend, as investors look to the Fed*
Associated Press By Bernard Condon, AP Business Writer

NEW YORK (AP) -- Stocks in the U.S. bucked a global market slump Thursday as investors look ahead to a crucial Federal Reserve meeting next week on interest rates.

Investors pushed major U.S. indexes lower in the morning following drops in Asia and Europe, then reversed course as oil prices rose. That helped send shares of energy companies, which have been battered in recent weeks, higher.

Traders remain focused on a two-day meeting of Federal Reserve policymakers next week. They are trying to anticipate when and how quickly the central bank will begin to raise interest rates from their historically low levels. Those low rates have been a key factor sending stock prices higher over the past seven years.

A report Thursday showing a decline in applications for unemployment claims was the latest bullish sign on the job market, which could prompt the Fed to tighten credit. Some say worries about higher rates are overblown.

"The U.S. economy is in significantly better shape than in the past," said Mike Ryan, chief investment strategist at UBS Wealth Management Americas. "We're not dependent on Fed largess and stimulus to support growth."

The Dow Jones industrial average rose 76.83 points, or 0.5 percent, to close at 16,330.40. The Standard & Poor's 500 index gained 10.25 points, or 0.5 percent, to 1,952.29. The Nasdaq composite climbed 39.72 points, or 0.8 percent, to 4,796.25.

Global markets have been moving sharply up and down in recent weeks as investors worry about a slowdown in China, plunging currencies in developing countries like Malaysia and uncertainty over the Fed's next move. In five of the six previous days of trading in September, the S&P 500 has made big moves both up and down, including a surge of 2.5 percent on Tuesday and a plunge of 3 percent on the first day of the month.

Trading was relatively light on Thursday, with little news moving prices one way or the other.

Apple jumped $2.42, or 2.2 percent, to $112.57, on Thursday, a day after the company introduced updated versions of the iPhone, Apple TV and iPad. Technology stocks rose 1 percent overall, the biggest gain among the 10 industry sectors of the S&P 500.

The price of oil rose sharply after the Energy Department reported a strong increase in U.S. gasoline demand.

A report on unemployment claims early Thursday showed fewer Americans applied for benefits last week, adding to recent evidence of robust hiring. The Labor Department said weekly applications benefits dropped 6,000 to 275,000.

A separate government report the day before said U.S. job openings jumped to the highest level in 15 years in July. A report last week showed the U.S. unemployment rate fell to a seven-year low of 5.1 percent in August.

Investors are not so sure they like the healthier economy because it could mean the Fed raising rates sooner, and faster, than anticipated.

"The Fed has to be mindful of all this job creation because, sooner or later, companies are going to have to compete for workers, and they're going to compete by raising wages," said David Joy, chief market strategist at Ameriprise Financial. "That will filter into the Fed's deliberations next week."

In Asia, Japan's Nikkei 225 slumped 2.5 percent after surging 7.7 percent on Wednesday in its biggest gain since October 2008. Hong Kong's Hang Seng index dropped 2.6 percent and China's Shanghai Composite Index finished 1.4 percent lower.

European markets were mostly lower. France's CAC-40 lost 1.5 percent.

Among U.S. stocks making big moves:

”” Krispy Kreme Doughnuts plunged $2.08, or 12 percent, $15.65 after the company lowered its outlook following disappointing second-quarter results.

”” Lululemon Athletica sank $10.51, or 16 percent, to $53.54 after the high-end apparel maker predicted profits for the current quarter that were lower than Wall Street analysts were expecting.

”” Freight company Con-Way soared $12.01, or 34 percent, to $47.54 after agreeing to be acquired by XPO Logistics.

U.S. crude rose $1.77 to close at $45.92 a barrel in New York. Over the past four weeks, U.S. gasoline demand averaged 9.3 million barrels per day, up 3.8 percent compared with the same period last year, according to the Energy Department's weekly petroleum status report. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $1.31 to close at $48.89 a barrel in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 3.4 cents to close at $1.394 a gallon.

”” Heating oil rose 3.6 cents to close at $1.575 a gallon.

”” Natural gas rose 3.2 cents to close at $2.683 per 1,000 cubic feet.

Bond prices fell slightly. The yield on the 10-year Treasury note rose to 2.22 percent from 2.20 percent late Wednesday. The U.S. dollar rose to 120.62 yen from 120.28 yen. The euro rose to $1.1285 from $1.1219.

The price of gold rose $7.30 to $1,109.30 an ounce. Silver rose 7 cents to $14.65 an ounce and copper gained a penny to $2.45 per pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	102.69	points or ▲	0.63%	on	Friday, 11 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,433.09	▲	102.69	▲	0.63%		
	Nasdaq____	4,822.34	▲	26.09	▲	0.54%		
	S&P_500___	1,961.05	▲	8.76	▲	0.45%		
	30_Yr_Bond____	2.94	▼	-0.04	▼	-1.51%		

NYSE Volume	 3,200,018,000 	 	 	 	 	  		 
Nasdaq Volume	 1,673,764,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,117.76	▼	-38.05	▼	-0.62%		
	DAX_____	10,123.56	▼	-86.88	▼	-0.85%		
	CAC_40__	4,548.72	▼	-47.81	▼	-1.04%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,096.30	▼	-20.70	▼	-0.40%		
	Shanghai_Comp	3,200.23	▲	2.34	▲	0.07%		
	Taiwan_Weight	8,305.82	▲	37.14	▲	0.45%		
	Nikkei_225___	18,264.22	▼	-35.40	▼	-0.19%		
	Hang_Seng.__	21,504.37	▼	-58.13	▼	-0.27%		
	Strait_Times.__	2,888.03	▲	0.00	▲	0.00%		HOLIDAY
	NZX_50_Index_	5,648.22	▼	-22.77	▼	-0.40%		

http://finance.yahoo.com/news/wobble-us-stocks-manage-slight-204124563.html

*After a wobble, US stocks manage slight gains

After an early stumble, US stock indexes finish higher, closing out a solid week*
Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Major stock indexes shook off an early stumble to finish with slight gains on Friday as traders turned their attention to a key meeting of the Federal Reserve next week.

It was a quiet end to another turbulent week. Thanks largely to a big jump on Tuesday, the market finished with a 2 percent gain for the week, recouping a portion of the steep losses from the week before.

The major indexes headed lower at the opening of trading on Friday, as falling oil prices pulled oil and gas companies down.

The economic news wasn't encouraging, either. A reading on consumer confidence this month sank to its lowest level since September of last year.

"It seems people are focused on the market's volatility and the potential impact of a slowing China," said Phil Orlando, chief equity strategist at Federated Investors in New York, the money-management firm. "I understand why folks are nervous. I think eventually things will settle down."

The Standard & Poor's 500 gained 8.76 points, or 0.5 percent, to close at 1,961.05.

The Dow Jones industrial average rose 102.69 points, or 0.6 percent, to 16,433.09, while the Nasdaq composite rose 26.09, or 0.5 percent, to 4,822.34.

News about China's slowing economy, a looming rate increase from the Fed and a host of other concerns have combined to knock the market down 6 percent over the past month. It has been a staggered fall, with sharp drops one week followed by slight gains the next.

Wall Street is divided over whether the Fed will raise its benchmark lending rate next week for the first time in nine years. The Fed slashed its key rate to near zero during the financial crisis, supporting the stock market's seven-year run. Uncertainty over the Fed's timing has kept investors on edge.

Major markets in Europe ended with losses on Friday. Germany's DAX dropped 0.9 percent, while France's CAC-40 sank 1 percent. Britain's FTSE 100 slipped 0.6 percent.

In Asia, China's Shanghai Composite Index added 0.1 percent, while Hong Kong's Hang Seng shed 0.3 percent. Japan's Nikkei 225 fell 0.2 percent.

Before traders return to their desks on Monday, a large batch of Chinese economic news will come out over the weekend. Joshua Mahony, market analyst at IG in London, said that could lead to a turbulent start to trading next week.

"The weekend release of Chinese retail sales, industrial production and fixed asset investment numbers means that Monday is likely to start with a bang," Mahony said.

Back in the U.S., Kroger gained 5 percent after reporting earnings that beat analysts' estimates. The grocery store chain's stock rose $1.89 to $37.29.

Prices for U.S. government bonds rose, pushing the yield on the 10-year Treasury note down to 2.19 percent from 2.23 percent late Thursday.

In the commodity markets, precious and industrial metals finished mostly lower. Gold dropped $6 to settle at $1,103.30 an ounce, and silver sank 14 cents to $14.50 an ounce. Copper settled unchanged from the day before at $2.45 a pound.

The price of oil fell on concerns that the current glut of oil would persist well into next year. Goldman Sachs cut its forecast for oil prices next year to $45 a barrel from $57, saying supplies were far higher than previous estimates. U.S. crude fell $1.29 to close at $44.63 a barrel in New York. Brent Crude, a benchmark for international oil, fell 75 cents to close at $48.14 in London.

In other trading:

— Wholesale gasoline fell 2.4 cents to close at $1.370 a gallon.

— Heating oil fell 2.5 cents to close at $1.550 a gallon.

— Natural gas rose 1 cent to close at $2.693 per 1,000 cubic feet.

5112


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-62.13	points or ▼	-0.38%	on	Monday, 14 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,370.96	▼	-62.13	▼	-0.38%		
	Nasdaq____	4,805.76	▼	-16.58	▼	-0.34%		
	S&P_500___	1,953.03	▼	-8.02	▼	-0.41%		
	30_Yr_Bond____	2.95	▲	0.00	▲	0.14%		

NYSE Volume	 2,996,818,750 	 	 	 	 	  		 
Nasdaq Volume	 1,461,011,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,084.59	▼	-33.17	▼	-0.54%		
	DAX_____	10,131.74	▲	8.18	▲	0.08%		
	CAC_40__	4,518.15	▼	-30.57	▼	-0.67%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,120.50	▲	24.20	▲	0.47%		
	Shanghai_Comp	3,114.80	▼	-85.44	▼	-2.67%		
	Taiwan_Weight	8,307.29	▲	1.47	▲	0.02%		
	Nikkei_225___	17,965.70	▼	-298.52	▼	-1.63%		
	Hang_Seng.__	21,561.90	▲	57.53	▲	0.27%		
	Strait_Times.__	2,871.47	▼	-16.56	▼	-0.57%		
	NZX_50_Index_	5,665.87	▲	17.65	▲	0.31%		

http://finance.yahoo.com/news/fed-rate-decision-looming-stocks-162057624.html

*With Fed rate decision looming, stocks head lower

Weak China data weigh on markets as Fed rate decision looms*
Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- More signs of slowing economic growth in China weighed on companies that produce raw materials on Monday, pulling the stock market to a slight loss. Trading was light as investors looked ahead to a much-anticipated Federal Reserve meeting later this week.

Brad McMillan, chief investment officer for the Commonwealth Financial Network, said the market was likely to drift until the Fed wraps up its meeting on Thursday. "Everybody is waiting to see what happens when and if the Fed raises rates."

Until recently, many in the markets thought that the Fed would raise its benchmark interest rate at the end of its two-day meeting on Thursday. Now, opinions are split. Some analysts suggest China's slower economy and turbulence in financial markets might prompt the Fed to postpone its first rate increase since 2006. But the Fed's deputy chairman, Stanley Fischer, recently said he saw a "pretty strong case" for raising rates.

Major U.S. indexes opened higher, then quickly changed course. They sank slowly through the rest of the morning and remained lower through the remainder of the day. Miners and other materials companies had some of the biggest losses. Metals companies Alcoa and Nucor dropped 3 percent, while Freeport-McMoRan lost 2 percent.

The Standard & Poor's 500 index lost 8.02 points, or 0.4 percent, to close at 1,953.03.

The Dow Jones industrial average gave up 62.13 points, or 0.4 percent, to 16,370.96, and the Nasdaq composite fell 16.58 points, or 0.3 percent, to 4,805.76.

Apple reported strong demand for its latest iPhones, driving its stock up. The tech giant said that initial sales of the iPhone 6s and iPhone 6s Plus are on track to beat the tally from last year, when it sold a record 10 million large-screen iPhones during the first weekend. Apple climbed $1.10, or 1 percent, to $115.31.

In Europe, Germany's DAX closed with a gain of 0.1 percent while France's CAC-40 lost 0.7 percent. The FTSE 100 index of leading British shares slipped 0.5 percent.

Two economic reports out Sunday rekindled concerns over China's economic slowdown. Factory output and investment grew at a slower pace than forecast. China's main stock index, the Shanghai Composite, took another hard fall on Monday, dropping 2.7 percent

Elsewhere, Hong Kong's Hang Seng added 0.3 percent. Japan's Nikkei 225 lost 1.6 percent, and South Korea's Kospi lost 0.5 percent.

Back in the U.S., Raptor Pharmaceuticals lost more than a third of its market value after the drug developer said it may scrap development of a liver disease treatment because it failed to pass a key test. The company's stock plunged $4.51, or 37 percent, to $7.52.

Prices for U.S. government bonds barely moved. The yield on the 10-year Treasury note was little changed at 2.18 percent.

In commodities markets, industrial metals finished lower while precious metals ended mixed. Gold gained $4.40 to settle at $1,107.70 an ounce, and silver sank 14 cents to $14.36 an ounce. Copper dropped 5 cents to $2.41 a pound.

The price of oil fell on weakness in the gasoline market brought on by high fuel supplies and the end of the summer driving season. U.S. crude fell 63 cents to close at $44 a barrel in New York. Brent Crude, a benchmark for international oils used by many U.S. refineries, fell $1.77 to close at $46.37 a barrel in London.

In other futures trading in New York:

”” Wholesale gasoline fell 6.6 cents to close at $1.304 a gallon.

”” Heating oil fell 4.6 cents to close at $1.504 a gallon.

”” Natural gas rose 6.5 cents to close at $2.758 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	228.89	points or ▲	1.40%	on	Tuesday, 15 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,599.85	▲	228.89	▲	1.40%		
	Nasdaq____	4,860.52	▲	54.76	▲	1.14%		
	S&P_500___	1,978.09	▲	25.06	▲	1.28%		
	30_Yr_Bond____	3.06	▲	0.12	▲	3.90%		

NYSE Volume	 3,239,298,750 	 	 	 	 	  		 
Nasdaq Volume	 1,580,482,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,137.60	▲	53.01	▲	0.87%		
	DAX_____	10,188.13	▲	56.39	▲	0.56%		
	CAC_40__	4,569.37	▲	51.22	▲	1.13%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,046.60	▼	-73.90	▼	-1.44%		
	Shanghai_Comp	3,005.17	▼	-109.63	▼	-3.52%		
	Taiwan_Weight	8,259.99	▼	-47.30	▼	-0.57%		
	Nikkei_225___	18,026.48	▲	60.78	▲	0.34%		
	Hang_Seng.__	21,455.23	▼	-106.67	▼	-0.49%		
	Strait_Times.__	2,841.94	▼	-29.53	▼	-1.03%		
	NZX_50_Index_	5,652.39	▼	-13.48	▼	-0.24%		

http://finance.yahoo.com/news/us-stocks-post-solid-gains-204445224.html

*US stocks post solid gains a day before crucial Fed meeting

US stocks climb sharply a day before crucial Fed meeting; industrial stocks lead gains*
Associated Press By Steve Rothwell, AP Business Writer

NEW YORK (AP) -- U.S. stocks rose sharply on Tuesday, a day before the start of a crucial Federal Reserve meeting.

Policymakers at the U.S. central bank will convene a two-day meeting on Wednesday and may decide to raise interest rates for the first time in close to a decade.

Opinions are divided among investors and economists as to whether the Fed will, or even should, raise interest rates this month. On the one hand, hiring in the U.S. is continuing to improve and the housing market is recovering. On the other, there are signs that weakness in the global economy could impact the U.S. economy.

Fed policymakers have kept the central bank's benchmark rate close to zero for almost seven years, supporting both the economy and the stock market.

The sharp gains on Tuesday came after some mixed reports that showed weakness in some parts of the economy. While retail sales edged higher last month, factory output fell in the same period as automakers cut back on production. A New York Fed survey showed that factory activity in New York state sank for a second straight month in September.

"It's almost as if the market believes the Fed isn't going to do anything on Thursday. That's why people are bidding it up," said Kevin Mahn, Chief Investment Officer at Hennion & Walsh Asset Management in New Jersey. "However, I do believe (raising rates) would be the right thing for the economy...it's time."

The Dow Jones industrial average climbed 228.89 points, or 1.4 percent, to 16,599.85. The Standard & Poor's 500 index climbed 25.06 points, or 1.3 percent, to 1,978.09. The Nasdaq composite advanced 54.76 points, or 1.1 percent, to 4,860.52.

The gains were led by industrial stocks. The sector had been among those hit worst by the recent global sell-off as investors worried about the outlook for global demand.

"People have been overly pessimistic on global growth," said Scott Wren, senior global equity strategist at Wells Fargo Investment Institute. "I think they are going to be surprised....you are going to see a little bit more stability."

The stock market has recovered some of its losses in August and early September, but is still down from its peak of the year as traders and investors fret about the possible impact of slower growth in China and other emerging markets. The S&P 500 has dropped 7.2 percent from its record close set in May.

Despite the bounce Tuesday, some investors believe that the market's slump may yet have some way to run.

Michael Ball, President of Weatherstone Capital Management, is playing it safe by holding more cash. He says that the outlook for stocks is deteriorating against a backdrop of moderately rising interest rates and the prospect of weakening corporate earnings.

"Frankly, we are very concerned about the market," said Ball. "You may get a bounce out of here, but without improving earnings and better global economic growth, it may be short-lived."

Earnings for S&P 500 companies are expected to slump 4.1 percent in the third-quarter, according to S&P Capital IQ.

Energy stocks got a lift on Tuesday as oil prices rose.

The price of oil rose on further signs of declining oil production in the U.S. The price of U.S. oil rose 59 cents to $44.59 a barrel. Brent crude, a benchmark for many international types of oil imported into the U.S., gained 26 cents to $46.63 a barrel.

In government bond trading, prices fell. The yield on the 10-year Treasury note rose to 2.29 percent from 2.18 percent on Monday. The dollar rose to 120.42 yen from 120.30 yen late Monday. The euro dropped to $1.1272 from $1.1309.

In metals trading, gold fell $5.10 to $1,102.60 an ounce. Silver fell 4 cents to $14.33 an ounce and copper gained 2 cents to $2.43 a pound.

In other energy futures trading:

Wholesale gasoline rose 2.9 cents to $1.333 a gallon

Heating oil fell less than a penny to $1.50 a gallon

Natural gas slipped 3 cents to $2.728 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	140.1	points or ▲	0.84%	on	Wednesday, 16 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,739.95	▲	140.10	▲	0.84%		
	Nasdaq____	4,889.24	▲	28.72	▲	0.59%		
	S&P_500___	1,995.31	▲	17.22	▲	0.87%		
	30_Yr_Bond____	3.09	▲	0.03	▲	0.98%		

NYSE Volume	 3,627,879,750 	 	 	 	 	  		 
Nasdaq Volume	 1,657,369,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,229.21	▲	91.61	▲	1.49%		
	DAX_____	10,227.21	▲	39.08	▲	0.38%		
	CAC_40__	4,645.84	▲	76.47	▲	1.67%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,123.60	▲	77.00	▲	1.53%		
	Shanghai_Comp	3,152.26	▲	147.09	▲	4.89%		
	Taiwan_Weight	8,333.29	▲	73.30	▲	0.89%		
	Nikkei_225___	18,171.60	▲	145.12	▲	0.81%		
	Hang_Seng.__	21,966.66	▲	511.43	▲	2.38%		
	Strait_Times.__	2,868.74	▲	26.80	▲	0.94%		
	NZX_50_Index_	5,667.97	▲	15.58	▲	0.28%		

http://finance.yahoo.com/news/stocks-advance-ahead-federal-decision-204519149.html

*Stocks advance ahead of Federal Reserve decision

Stocks advance ahead of important Federal Reserve decision; AB InBev rises after deal offer*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks posted solid gains Wednesday ahead of a closely watched decision by the Federal Reserve on whether or not to raise interest rates.

Beer companies gained on word of a possible deal between two giant brewers, and energy stocks rose sharply following a big jump in the price of oil.

The Dow Jones industrial average rose 140.10 points, or 0.8 percent, to 16,739.95. The Standard & Poor's 500 index rose 17.22 points, or 0.9 percent, to 1,995.31 and the Nasdaq composite added 28.72 points, or 0.6 percent, to 4,889.24.

Investors have been speculating about when the Federal Reserve will raise interest rates for months. The Fed started its two-day policy meeting Wednesday and will announce its decision Thursday afternoon, which will be followed by a press conference by Fed Chair Janet Yellen.

Interest rates have been near zero since 2008, when the Fed cut rates sharply in response to the financial crisis and Great Recession. The Fed's low interest rate policy was designed to encourage lending, but it also helped drive a seven-year bull market in stocks by making bonds, CDs and other interest-bearing investments less attractive, driving investors to put money into the stock market.

"If they raise tomorrow, it's going to be nasty for the stock market. Much of the rally back has had much to do with investors believing the Fed isn't going to move," said Tom di Galoma, head of fixed income rates trading at ED&F Man Capital.

Investors' opinions are mixed on the chance of a rate increase. Two months ago, it seemed almost certain that the Fed was going to raise rates in September. Now, after the turmoil in financial markets in August over concerns about China's economy, investors are far less certain.

"I just don't think the economy is strong enough and inflation remains too low to justify a rate increase," di Galoma said.

Stocks have been rising steadily ahead of the Fed's meeting. Investors have said that stocks recovered partly because the chances of an interest rate hike diminished.

In company news, SABMiller, a major beer maker whose brands include Miller and Foster's, jumped 20 percent in London after the company said it received a takeover offer from Anheuser-Busch InBev of Belgium. A combination of the two would create a massive conglomerate worth $275 billion. Any potential deal would be heavily scrutinized by regulators.

U.S.-traded shares of AB InBev rose $7.39, or 7 percent, to $115.43. Other beer makers also rose. Molson Coors jumped $10.34, or 14 percent, to $82.98.

Energy stocks also rose after a steeper-than-expected drop in crude inventories sent oil prices sharply higher.

U.S. benchmark crude jumped $2.56, or 5.7 percent, to $47.15 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for many international types of oil imported into the U.S., gained $2, or 4.2 percent, to $49.75 a barrel in London.

The Energy Information Administration said U.S. oil supplies fell last week by a steeper-than-expected 2.2 million barrels. Analysts surveyed by Platts expected a decline of 200,000 barrels. The plunge follows news that oil drillers in the U.S. are cutting production in the face of low oil prices.

Oil company stocks followed crude oil higher. The energy sector of the S&P 500 shot up up 2.8 percent, more than twice as much as the rest of the market.

U.S. government bond prices were little changed from Tuesday. The yield on the 10-year Treasury note held at 2.30 percent.

The dollar was little changed at 120.61 yen and the euro edged up to $1.1285.

Gold rose $16.40 to $1,119 an ounce. Silver gained 56 cents to $14.89 an ounce and copper climbed 2.6 cents to $2.45 a pound.

In other energy futures trading:

Wholesale gasoline rose 4.9 cents to $1.382 a gallon

Heating oil rose 4.1 cents to $1.541 a gallon

Natural gas slipped 6.8 cents to $2.66 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-65.21	points or ▼	-0.39%	on	Thursday, 17 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,674.74	▼	-65.21	▼	-0.39%		
	Nasdaq____	4,893.95	▲	4.71	▲	0.10%		
	S&P_500___	1,990.20	▼	-5.11	▼	-0.26%		
	30_Yr_Bond____	3.03	▼	-0.06	▼	-1.88%		

NYSE Volume	 4,193,606,000 	 	 	 	 	  		 
Nasdaq Volume	 1,878,807,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,186.99	▼	-42.22	▼	-0.68%		
	DAX_____	10,229.58	▲	2.37	▲	0.02%		
	CAC_40__	4,655.14	▲	9.30	▲	0.20%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,171.20	▲	47.60	▲	0.93%		
	Shanghai_Comp	3,086.06	▼	-66.20	▼	-2.10%		
	Taiwan_Weight	8,445.50	▲	112.21	▲	1.35%		
	Nikkei_225___	18,432.27	▲	260.67	▲	1.43%		
	Hang_Seng.__	21,854.63	▼	-112.03	▼	-0.51%		
	Strait_Times.__	2,895.81	▲	27.07	▲	0.94%		
	NZX_50_Index_	5,694.23	▲	26.26	▲	0.46%		

http://finance.yahoo.com/news/stocks-close-lower-fed-keeps-205629109.html

*Stocks close lower after Fed keeps interest rates low

Stocks close mostly lower after Federal Reserve holds off on raising rates; Bonds rise*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks ended mostly lower after a volatile day as traders tried to figure out what was next for U.S. interest rates.

The bumpy trading Thursday came after the Federal Reserve decided to keep interest rates low for now, citing weakness in the global economy and unsettled financial markets.

Investors did make significant bets on U.S. Treasuries and, for a change, precious metals. The U.S. dollar weakened against its major currency counterparts as the threat of higher interest rates abated.

The Dow Jones industrial average lost 65.21 points, or 0.4 percent, to 16,674.74. The Standard & Poor's 500 index fell 5.11 points, or 0.3 percent, to 1,990.20 and the Nasdaq composite index rose 4.71 points, or 0.1 percent, to 4,893.95.

The Fed said that while the U.S. job market is solid, there are reasons to be concerned about global economic growth. Fed Chair Janet Yellen said a rate hike is still likely this year. The Fed meets again in October and December.

"The market got what it wanted," said Alan Rechtschaffen, a portfolio manager at UBS. "The market had a 'rate rant' last month and that scared the Fed."

Interest rates have been near zero since 2008, when the Fed drastically cut rates in response to the financial crisis and Great Recession. The last time the central bank actually raised rates was 2006.

Ultra-low interest rates tend to help the stock market because they make bonds, CDs and other income-producing investments less appealing by comparison. They also make it inexpensive for companies to borrow money to buy back their own shares, which also sends stock prices higher.

On the other hand, the Fed has made it abundantly clear that the current policy of super-low rates is an unusual measure intended to shore up the economy and will eventually be dismantled. Keeping it in place is a signal that the Fed believes the economy isn't quite strong enough to withstand higher rates. For investors wondering when interest rate policy will be "normalized," that means more waiting.

"They just need a little more time. The drumbeat is getting louder for them to actually raise rates," said Tony Bedikian, head of global markets at Citizens Financial Group.

With interest rates not changing soon and inflation in check, investors bought up bonds. The yield on the U.S. 10-year Treasury note dropped to 2.19 percent from 2.30 percent the day before, a large move. The two-year Treasury note, which would be more heavily impacted by higher short-term interest rates, had even an even more dramatic move, dropping to 0.68 percent from 0.80 percent.

In precious metals markets, gold and silver saw significant buying in after-hours trading after the Fed released its statement. Gold fell $2 to settle at $1,117 an ounce in regular trading but was up $12.80 to $1,131.80 an ounce later. Silver added 10 cents to settle at $14.98 an ounce, and gained another 25 cents to $15.13 in extended trading. Copper finished unchanged at $2.45 a pound in regular trading. It was up a penny in after-hours trading.

Oil finished slightly lower after the Fed's comments. U.S. crude fell 25 cents to $46.90 a barrel. Brent crude, a benchmark for many international oils imported by U.S. refineries, fell 67 cents to $49.08 a barrel.

In other energy futures trading, wholesale gasoline fell less than a penny to $1.376 a gallon. Heating oil slipped 1.17 cents to $1.53 a gallon and natural gas fell 1 cent to $2.652 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-290.16	points or ▼	-1.74%	on	Friday, 18 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,384.58	▼	-290.16	▼	-1.74%		
	Nasdaq____	4,827.23	▼	-66.72	▼	-1.36%		
	S&P_500___	1,958.03	▼	-32.17	▼	-1.62%		
	30_Yr_Bond____	2.93	▼	-0.10	▼	-3.46%		

NYSE Volume	 5,993,101,500 	 	 	 	 	  		 
Nasdaq Volume	 3,258,215,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,104.11	▼	-82.88	▼	-1.34%		
	DAX_____	9,916.16	▼	-313.42	▼	-3.06%		
	CAC_40__	4,535.85	▼	-119.29	▼	-2.56%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,194.30	▲	23.10	▲	0.45%		
	Shanghai_Comp	3,097.92	▲	11.86	▲	0.38%		
	Taiwan_Weight	8,462.14	▲	16.64	▲	0.20%		
	Nikkei_225___	18,070.21	▼	-362.06	▼	-1.96%		
	Hang_Seng.__	21,920.83	▲	66.20	▲	0.30%		
	Strait_Times.__	2,879.59	▼	-16.22	▼	-0.56%		
	NZX_50_Index_	5,712.05	▲	17.82	▲	0.31%		

http://finance.yahoo.com/news/us-stocks-fall-sharply-investors-210624176.html

*US stocks fall sharply as investors mull Fed's rate decision

Global growth worries hammer stocks a day after Fed holds rates; Bonds, gold rally*
Associated Press By Bernard Condon, AP Business Writer

NEW YORK (AP) -- Fears over slowing global growth hammered stocks in the U.S. and Europe on Friday and lifted prices of government bonds and other assets seen as safer bets.

The selling pushed down major stock indexes in Germany, France and Britain before spreading to the U.S. The Standard and Poor's 500 index slumped to its biggest loss in more than two weeks as all 10 industry sectors of the broad market gauge fell. Energy companies dropped the most as oil plunged.

The stock sell-off came a day after the Federal Reserve decided to hold interest rates near zero. That means borrowing costs will remain low for a while yet, a prospect that has in the past typically boosted stocks. But some investors, expecting the Fed would be confident enough to nudge rates up by at least a quarter of a point, interpreted the stance as a sign that the global economy is dangerously weak.

"If growth in the strongest economy ”” the United States ”” isn't strong enough to raise rates even a quarter of a point, what does that say about the prospects for global growth?" said Bill Strazzullo, chief strategist at market research firm Bell Curve Trading.

The Fed has kept its benchmark rate close to zero for almost seven years. In that time, U.S. stocks have nearly tripled from their financial crisis low. The Fed meets again next month and in December.

The Dow Jones industrial average ended down 289.95 points, or 1.7 percent, to 16,384.79. The S&P 500 slumped 32.12 points, or 1.6 percent, to 1,958.08 and the Nasdaq composite shed 66.72 points, or 1.4 percent, to 4,827.23

Bonds rallied as investors sought safety. The benchmark 10-year Treasury note gained, pushing down its yield to 2.13 percent. Gold also gained.

A gauge of investor fear, the VIX index, shot up 7 percent to 23. In early July, this measure of expected swings in stock prices was 12.

In its rate decision Thursday, the Fed cited low inflation, weakness in the global economy and unsettled financial markets. Investors have been on edge about a slowdown in China and other emerging market nations since last month. The S&P 500 index is down about 8 percent from its record close of 2,130.82 set in May.

UBS strategist Julian Emanuel said a mix of other factors may have also fed the selling Friday.

Investors are worried about third-quarter corporate earnings, which are forecast to drop 4 percent for companies in the S&P 500. Also, several dozen House Republicans have said they won't vote for a funding bill that includes money for Planned Parenthood, raising the specter of a government shutdown next month.

"When you add up the Fed, China, the cloudy earnings outlook and, and possibly of government shutdown, it's not a surprise that the market has had a defensive reaction," Emanuel said.

In Europe, Germany's DAX fell 3.1 percent while the CAC-40 in France dropped 2.6 percent. Britain's FTSE 100 ended the day 1.3 percent lower.

Among U.S. stocks making big moves, JPMorgan Chase fell $1.71, or 2.7 percent, to $60.94 as investors judged that lower interest rates for longer mean banks won't be able charge more for loans. Citigroup slumped $1.36, or 2.6 percent, $50.29.

La Quinta plunged $2.92, or 15 percent, to $16.05 after the hotel company announced late Thursday that its CEO Wayne Goldberg had stepped down after almost a decade in charge. The company also lowered its 2015 sales forecast due to weak demand in August and September.

In metals trading, the price of gold rose $20.80 to $1,137 an ounce. Silver climbed 17.9 cents to $15.16 an ounce and Copper fell 6.6 cents to $2.39 per pound.

The price of oil plunged over concerns that demand for crude could weaken if the global economy slows. U.S. oil dropped $2.22, or 4.7 percent, to $44.68 per barrel. Brent crude, the global benchmark, fell $1.61, or 3.3 percent, to $47.47 per barrel in London.

In other energy futures trading:

”” Wholesale gasoline fell 2 cents to $1.356 per gallon.

”” Heating oil slipped 3.9 cents to $1.491 per gallon.

”” Natural gas fell 4.7 cents to $2.605 per 1,000 cubic feet.

5701


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	125.61	points or ▲	0.77%	on	Monday, 21 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,510.19	▲	125.61	▲	0.77%		
	Nasdaq____	4,828.96	▲	1.73	▲	0.04%		
	S&P_500___	1,966.97	▲	8.94	▲	0.46%		
	30_Yr_Bond____	3.04	▲	0.11	▲	3.62%		

NYSE Volume	 3,253,814,000 	 	 	 	 	  		 
Nasdaq Volume	 2,011,072,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,108.71	▲	4.60	▲	0.08%		
	DAX_____	9,948.51	▲	32.35	▲	0.33%		
	CAC_40__	4,585.50	▲	49.65	▲	1.09%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,096.40	▼	-97.90	▼	-1.88%		
	Shanghai_Comp	3,156.54	▲	58.62	▲	1.89%		
	Taiwan_Weight	8,307.04	▼	-155.10	▼	-1.83%		
	Nikkei_225___	18,070.21	▼	-362.06	▼	-1.96%		
	Hang_Seng.__	21,756.93	▼	-163.90	▼	-0.75%		
	Strait_Times.__	2,882.27	▲	2.68	▲	0.09%		
	NZX_50_Index_	5,683.52	▼	-28.53	▼	-0.50%		

http://finance.yahoo.com/news/stocks-end-higher-led-financial-201336793.html

*Stocks end higher, led by financial shares; drugmakers drop

Stocks rise, led by financial shares; Drugmakers drop on Clinton's 'price gouging' comments*
Associated Press By Bernard Condon, AP Business Writer

NEW YORK (AP) -- Stocks rose broadly on Monday, recouping some losses from a sell-off last week, as investors tried to look beyond uncertainty about the outlook for interest rates.

The major U.S. indexes dipped into losses in the afternoon on sharp declines for drugmakers. The drop was sparked by a tweet from Democratic presidential front-runner Hillary Rodham Clinton about plans to stop "price gouging" in the industry. But rising technology and banking shares helped lift the market by the end of the day.

Jack Ablin, chief investment officer at BMO Private Bank, said that investors have been conditioned to buy after big drops during the long bull market, and that's what they did Monday.

"Investors who have been buying the dips in recent years have benefited," he said, "so perhaps they'll use that strategy until it doesn't work anymore."

The Dow Jones industrial average closed up 125.61 points, or 0.8 percent, to 16,510.19.

The Standard & Poor's 500 index rose 8.94 points, or 0.5 percent, to 1,966.97. Nine of the 10 industry sectors in the index rose. The Nasdaq composite gained 1.73 points, or less than 0.1 percent, to 4,828.95.

Last week's broad slump was triggered by a decision from the Federal Reserve not to raise interest rates. Low borrowing rates have helped stocks triple in price since 2009, and a decision to keep them low normally would encourage investors to buy shares.

But the central bank cited concerns over a global economic slowdown for delaying a hike, and that spooked investors already on edge after weeks of seconding guessing growth in China and the impact of struggling emerging markets with plunging currencies.

Financial stocks rose Monday after comments from Federal Reserve officials over the weekend suggested some still foresee a rate increase as likely this year. Federal Reserve Bank of Atlanta President Dennis Lockhart said on Monday that he was "confident" of a rate rise this year.

Investors are betting that if interest rates rise, banks and other financial companies would be able to charge more for the loans they make. Citigroup rose 42 cents, or 0.8 percent, to $50.71.

Biogen, a maker of specialty drugs, was among the big losers after Clinton's comments on drugmakers. The stock dropped $17.51, or 5.6 percent, to $297.16. Dow members Pfizer, Merck and Johnson & Johnson also fell.

Atmel, a California-based semiconductor company, was one of the day's big winners. The stock surged after the company accepted an offer worth about $4.6 billion in cash and stock from Britain's Dialog Semiconductor. Atmel provides electronics products used in the industrial, automotive, consumer, communications, and computing markets. Its stock jumped 92 cents, or 13 percent, to $8.19.

In Europe, stocks stabilized from losses on Friday. Britain's FTSE 100 index rose 0.1 percent while the CAC-40 in France climbed 1.1 percent. Germany's DAX rose 0.3 percent.

The price of oil rose on expectations that U.S. production would continue to slip, helping to eventually ease the supply glut. Investors are also betting that a higher price for wholesale gasoline could spur refiners to process more crude. U.S. crude rose $2 to close at $46.68 a barrel in New York. Brent Crude, a benchmark for international oils used by many U.S. refineries, rose $1.45 to close at $48.92 in London.

In metals trading, the price of gold fell $5 to $1,132 an ounce. Silver rose 5.8 cents to $15.22 an ounce and copper was little changed from Friday at $2.39 per pound.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 4.7 cents to close at $1.403 a gallon.

”” Heating oil rose 2.3 cents to close at $1.514 a gallon.

”” Natural gas fell 4.7 cents to close at $2.605 per 1,000 cubic feet

In government bond trading, prices fell. The yield on the benchmark 10-year Treasury note rose to 2.20 percent from 2.13 percent on Friday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-179.72	points or ▼	-1.09%	on	Tuesday, 22 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,330.47	▼	-179.72	▼	-1.09%		
	Nasdaq____	4,756.72	▼	-72.23	▼	-1.50%		
	S&P_500___	1,942.74	▼	-24.23	▼	-1.23%		
	30_Yr_Bond____	2.93	▼	-0.10	▼	-3.39%		

NYSE Volume	 3,803,938,500 	 	 	 	 	  		 
Nasdaq Volume	 2,030,740,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,935.84	▼	-172.87	▼	-2.83%		
	DAX_____	9,570.66	▼	-377.85	▼	-3.80%		
	CAC_40__	4,428.51	▼	-156.99	▼	-3.42%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,130.80	▲	34.40	▲	0.67%		
	Shanghai_Comp	3,185.62	▲	29.08	▲	0.92%		
	Taiwan_Weight	8,365.92	▲	58.88	▲	0.71%		
	Nikkei_225___	18,070.21	▼	-362.06	▼	-1.96%		
	Hang_Seng.__	21,796.58	▲	39.65	▲	0.18%		
	Strait_Times.__	2,868.47	▼	-13.80	▼	-0.48%		
	NZX_50_Index_	5,696.79	▲	13.27	▲	0.23%		

http://finance.yahoo.com/news/us-stocks-drop-oil-other-154259743.html

*US stocks drop as oil and other commodities sink

US stock market takes a fall as oil, copper and other commodities sink*
Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Another bout of turbulence swung the U.S. stock market to a loss Tuesday as raw-material producers sank along with prices for oil and copper. The selling swept across every industry, with all 10 sectors of the S&P 500 taking a fall.

JJ Kinahan, TD Ameritrade's chief strategist, said lingering uncertainty over China's slowdown and the timing of the Federal Reserve's first interest-rate hike in nearly a decade has made investors skittish.

"I think it's really just the fact that nobody knows what to do," Kinahan said. "When things are this uncertain, the reaction is sell first and see what happens later."

Without any big news to drive trading, the indexes slumped throughout the morning, bottomed out in the afternoon and then spent the rest of the day recovering their losses.

The Standard & Poor's 500 index dropped 24.23 points, or 1.2 percent, to 1,942.74.

The Dow Jones industrial average fell 179.72 points, or 1.1 percent, to 16,330.47, and the Nasdaq composite declined 72.73 points, or 1.5 percent, to 4,756.72.

Mounting concerns about slowing growth in China and around the world have battered financial markets throughout the summer. The S&P 500, the most widely used measure of U.S. investments, has lost more than 8 percent in three months.

Investors will get another look at China's economy on Wednesday when Caixin's manufacturing index comes out. Last month, it hit a six-year low. Federal Reserve officials cited China's slowdown as one reason it decided to delay raising interest rates last week.

The scandal at Volkswagen AG, the world's top-selling carmaker, deepened after it said some 11 million of its diesel vehicles worldwide were fitted with software to cheat U.S. emissions test. The company said it was setting aside around 6.5 billion euros ($7.3 billion) to cover the fallout. Its U.S.-listed shares plunged $4.66, or 15 percent, to $25.44, extending Volkswagen's losses to 30 percent over two days.

In Europe, markets across the continent closed with big losses. Germany's DAX dropped 3.8 percent, and France's CAC-40 dropped 3.4 percent. Britain's FTSE 100 index closed with a loss of 2.8 percent.

Major indexes in Asia ended higher, with Hong Kong's Hang Seng up 0.2 percent and mainland China's Shanghai Composite Index up 0.9 percent. Markets in Japan remain closed for a three-day holiday.

Back in the U.S., ConAgra Foods tumbled 7 percent after posting a $1.2 billion quarterly loss. Sales for the maker of Chef Boyardee, Hebrew National hot dogs and other packaged food also fell short of analysts' forecasts. ConAgra's stock sank $3 to $39.40.

After the market closed on Monday, Mosaic said it would cut production of its fertilizers as falling prices for crops have hurt the company's sales. Mosaic pointed to swings in currencies and financial markets as other culprits. Its stock lost $2.56, or 7 percent, to $33.88.

U.S. government bond prices jumped, knocking the yield on the 10-year Treasury note down to 2.13 percent, from 2.20 percent late Monday.

In commodity trading, most industrial and precious metals settled with steep losses. Copper lost 9 cents, or 4 percent, to finish at $2.30 a pound. Gold dropped an even $8 to $1,124.80 an ounce, and silver sank 47 cents to $14.76 an ounce.

Benchmark U.S. crude oil fell 85 cents to close at $45.83 a barrel in New York. Brent Crude, an international benchmark, rose 16 cents to close at $49.08 a barrel in London.

In other trading:

”” Wholesale gasoline rose 1.3 cents to close at $1.416 a gallon.

”” Heating oil rose 1.8 cents to close at $1.532 a gallon.

”” Natural gas rose 0.4 cents to close at $2.577 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-50.58	points or ▼	-0.31%	on	Wednesday, 23 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,279.89	▼	-50.58	▼	-0.31%		
	Nasdaq____	4,752.74	▼	-3.98	▼	-0.08%		
	S&P_500___	1,938.76	▼	-3.98	▼	-0.20%		
	30_Yr_Bond____	2.94	▲	0.01	▲	0.31%		

NYSE Volume	 3,190,297,750 	 	 	 	 	  		 
Nasdaq Volume	 1,595,959,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,032.24	▲	96.40	▲	1.62%		
	DAX_____	9,612.62	▲	41.96	▲	0.44%		
	CAC_40__	4,432.83	▲	4.32	▲	0.10%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,032.50	▼	-98.30	▼	-1.92%		
	Shanghai_Comp	3,115.89	▼	-69.73	▼	-2.19%		
	Taiwan_Weight	8,193.42	▼	-172.50	▼	-2.06%		
	Nikkei_225___	18,070.21	▼	-362.06	▼	-1.96%		
	Hang_Seng.__	21,302.91	▼	-493.67	▼	-2.26%		
	Strait_Times.__	2,845.74	▼	-22.73	▼	-0.79%		
	NZX_50_Index_	5,654.34	▼	-42.45	▼	-0.75%		

http://finance.yahoo.com/news/materials-energy-stocks-slide-china-200703013.html

*Materials and energy stocks slide on China growth worries

US stocks end mostly lower, led by weakness in materials and energy sectors*
Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Another slide in raw-material producers and oil companies tugged the stock market to a slight loss on Wednesday, amid heightened concerns about global economic growth. Dow Chemical and Chevron each lost 2 percent.

The news out Wednesday was hardly encouraging. A private measure of manufacturing in China hit its lowest level in six years, a result of weaker factory production, overall new orders and hiring.

That, along with plunging oil prices, could have led to a much bigger sell-off, said Jim Paulsen, chief investment strategist at Wells Capital Management. But that's hardly encouraging for investors looking for a signal that the worst is over. The market has finished lower in four of the past five days.

"I'm sure there are a lot of buyers on the sidelines," he said, "but right now it doesn't seem like a very good time to buy."

The major indexes headed higher at the outset of trading Wednesday, took a sharp turn lower just before lunchtime, then climbed back almost to breakeven in the afternoon. By the closing bell, the stock market wound up just shy of where it started.

The Standard & Poor's 500 index gave up 3.98 points, or 0.2 percent, to finish the day at 1,938.76.

The Dow Jones industrial average lost 50.58 points, or 0.3 percent, to 16,279.89, and the Nasdaq composite fell 3.98 points, or 0.1 percent, to 4,752.74.

Mounting concerns about slowing global economic growth and the timing of the Federal Reserve's first interest-rate hike in nearly a decade has battered markets recently. The S&P 500, the most widely used measure of U.S. investments, has lost more than 8 percent in three months.

Anthony Valeri, a market strategist at LPL Financial, said he thinks the choppy trading will likely continue until next week, when a batch of major U.S. economic reports come out. The government releases its monthly look at the job market next Friday.

In other news, Volkswagen's CEO stepped down Wednesday, taking responsibility for a growing scandal. His resignation followed the German carmaker's admission that it rigged software in its cars to pass U.S. emission tests. In a statement, Martin Winterkorn said he was "not aware of any wrongdoing on my part." U.S.-listed shares of Volkswagen surged $1.66, or 7 percent, to $27.10.

Major indexes in Europe recovered a portion of their steep losses from the day before. Germany's DAX finished with a gain of 0.4 percent, while France's CAC 40 picked up 0.1 percent. Britain's FTSE 100 gained 1.6 percent.

Evidence of slowing economic growth hit markets across Asia. China's Shanghai Composite Index dropped 2.2 percent, while Hong Kong's Hang Seng sank 2.3 percent. South Korea's Kospi fell 1.9 percent, and Australia's S&P/ASX 200 lost 2.1 percent. Japan's stock market remains closed until Thursday for public holidays.

Back in the U.S., bond prices fell, nudging the yield on the benchmark 10-year Treasury note to 2.15 percent from 2.13 percent the day before.

Precious and industrial metals futures ended mixed. Gold edged up $6.70 to $1,131.50 an ounce, and silver increased three cents to $14.79 an ounce. Copper slipped less than a penny to $2.30 a pound.

Oil futures fell following the report showing weakness in Chinese manufacturing. That renewed concerns that demand for crude will weaken as the global economy slows. Abundant supplies of crude are also pushing prices lower.

U.S. crude fell $1.88 to close at $44.48 a barrel in New York. Brent Crude, a benchmark for international oils used by many U.S. refineries, fell $1.33 to close at $47.75 in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 3.5 cents to close at $1.382 a gallon.

”” Heating oil fell 2.6 cents to close at $1.506 a gallon.

”” Natural gas was little changed at $2.569 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-78.57	points or ▼	-0.48%	on	Thursday, 24 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,201.32	▼	-78.57	▼	-0.48%		
	Nasdaq____	4,734.48	▼	-18.27	▼	-0.38%		
	S&P_500___	1,932.24	▼	-6.52	▼	-0.34%		
	30_Yr_Bond____	2.90	▼	-0.04	▼	-1.33%		

NYSE Volume	 4,090,545,000 	 	 	 	 	  		 
Nasdaq Volume	 1,984,928,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,961.49	▼	-70.75	▼	-1.17%		
	DAX_____	9,427.64	▼	-184.98	▼	-1.92%		
	CAC_40__	4,347.24	▼	-85.59	▼	-1.93%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,102.30	▲	69.80	▲	1.39%		
	Shanghai_Comp	3,142.69	▲	26.80	▲	0.86%		
	Taiwan_Weight	8,123.10	▼	-70.32	▼	-0.86%		
	Nikkei_225___	17,571.83	▼	-498.38	▼	-2.76%		
	Hang_Seng.__	21,095.98	▼	-206.93	▼	-0.97%		
	Strait_Times.__	2,845.74	▼	-22.73	▼	-0.79%		
	NZX_50_Index_	5,676.81	▲	22.47	▲	0.40%		

http://finance.yahoo.com/news/us-stocks-drop-global-growth-192818684.html

*US stocks drop on global growth worries; Caterpillar slumps

US stocks fall on global growth worries; Caterpillar drops after cutting sales forecast*
Associated Press By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- More evidence that global economic growth is slowing pushed the U.S. stock market down for a third straight day on Thursday.

The market fell sharply at the open, pushing stocks close to their lowest levels of the month, before rebounding during afternoon trading to close with only slight losses.

Caterpillar, a bellwether for industrial companies, fell sharply after cutting its sales outlook for this year and announcing that it would eliminate as many as 10,000 jobs to cut costs.

Also, the government reported that orders for long-lasting U.S. manufactured goods dropped in August. A key category that tracks business investment plans was especially weak.

"We're looking for that good news and we're not getting any," said John Toohey, vice president of equity investments at USAA.

The Standard & Poor's 500 index fell 6.52 points, or 0.3 percent, to 1,932.24. The Dow Jones industrial average lost 78.57 points, or 0.5 percent, to 16,201.32. The Nasdaq composite fell 18.27 points, or 0.4 percent, to 4,734.48.

The market has been in a funk for the past month as investors worry that slowing growth overseas, particularly in China, will hurt U.S. companies. A decision by the Federal Reserve to hold its benchmark interest rate close to zero last week also made investors uneasy.

Policymakers held the Fed's benchmark interest rate despite an improving job market and a steady economy. Fed Chair Janet Yellen told reporters after the meeting that worries about China and emerging markets were a factor in their decision. Many economists expected that the central bank would instead focus on the health of the U.S. economy.

Yellen said in a speech late Thursday that she expects the Fed to begin raising interest rates by the end of the year. She also suggested that global economic weakness will not be significant enough to alter the central bank's plan to raise its key short-term rate from zero by December. Her remarks came after the market had closed.

On Thursday, Caterpillar was the biggest decliner in the S&P 500.

The company slumped after cutting its 2015 revenue forecast by $1 billion to about $48 billion. Caterpillar also said sales would fall another 5 percent next year. The company said it may eliminate as many as 10,000 jobs between now and 2018. The maker of mining and construction equipment is suffering as a global slump in commodity prices hurts mining companies. The stock dropped $4.40, or 6.3 percent, to $65.80.

European markets also fell. Germany's DAX dropped 1.9 percent, Britain's FTSE 100 declined 1.2 percent and France's CAC 40 lost 1.9 percent.

Automakers in Europe are still suffering in the wake of Volkswagen's emissions scandal. While VW's stock closed flat on the day, fellow German carmaker BMW fell 5.2 percent after a report said one of its models had failed a test in Europe. Fiat Chrysler fell 7.5 percent.

There was some strong earnings news from Nike after the close of trading.

The sportswear company reported earnings that surpassed analysts' expectations as sales grew. Its stock climbed $8.61, or 7.5 percent, to $123.35 in after-hours trading.

In commodities trading, benchmark U.S. crude rose 43 cents to $44.91 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for many international oils imported by U.S. refineries, rose 42 cents to $48.17 a barrel.

Bond prices rose, pushing the yield on the 10-year Treasury note down to 2.12 percent from 2.15 percent a day earlier. The dollar slipped to 120.06 yen. The euro ticked higher to $1.1221.

The price of gold rose $22.30 to $1,153.80 an ounce. Silver climbed 34 cents to $15.13 an ounce and copper rose 0.7 cents to $2.30 a pound.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 1.6 cents to close at $1.365 a gallon.

”” Heating oil rose 1.8 cents to close at $1.524 a gallon.

”” Natural gas rose 2.2 cents to close at $2.591 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-78.57	points or ▼	-0.48%	on	Friday, 25 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,201.32	▼	-78.57	▼	-0.48%		
	Nasdaq____	4,734.48	▼	-18.27	▼	-0.38%		
	S&P_500___	1,932.24	▼	-6.52	▼	-0.34%		
	30_Yr_Bond____	2.90	▼	-0.04	▼	-1.33%		

NYSE Volume	 4,090,545,000 	 	 	 	 	  		 
Nasdaq Volume	 1,984,928,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,961.49	▼	-70.75	▼	-1.17%		
	DAX_____	9,427.64	▼	-184.98	▼	-1.92%		
	CAC_40__	4,347.24	▼	-85.59	▼	-1.93%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,102.30	▲	69.80	▲	1.39%		
	Shanghai_Comp	3,142.69	▲	26.80	▲	0.86%		
	Taiwan_Weight	8,123.10	▼	-70.32	▼	-0.86%		
	Nikkei_225___	17,571.83	▼	-498.38	▼	-2.76%		
	Hang_Seng.__	21,095.98	▼	-206.93	▼	-0.97%		
	Strait_Times.__	2,845.74	▼	-22.73	▼	-0.79%		
	NZX_50_Index_	5,676.81	▲	22.47	▲	0.40%		

http://finance.yahoo.com/news/slump-health-care-pushes-stocks-210310229.html

*Late slump in health care pushes stocks to weekly loss

Late health care slump pushes stocks to weekly loss, offsets gains for financial stocks*
Associated Press By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- A late slump in health care stocks pushed the market to its third weekly loss this month.

Stocks had traded solidly higher for most of the day, as banks, insurance companies and brokerage firms climbed after Federal Reserve Chair Janet Yellen said that the policymakers would likely raise interest rates this year. The market gave up its most of its gains in the afternoon as a sell-off in drugmakers led the health care sector lower.

The stock market has been volatile for the past six weeks on worries about the impact of slowing growth in China and other emerging markets, as well as uncertainty about the outlook for interest rates. The late sell-off on Friday pushed stocks to their third losing week in the last four.

"This is a dangerous market that is still looking for direction," said Jerry Braakman, Chief Investment Officer at First American Trust an investment management firm. "Although the U.S. is continuing to improve, outside the U.S., it's just scary."

The Standard & Poor's 500 index fell 0.9 points, or less than 0.1 percent, to 1,931.34. The Dow Jones industrial average gained 113.35 points, or 0.7 percent, to 16,314.67. The Nasdaq composite fell 47.98 points, or 1 percent, to 4,686.50.

The S&P 500 closed down 1.4 percent for the week, the Dow was 0.4 percent lower.

Shares of drugmakers began their slide on Monday when Democratic presidential front-runner Hillary Rodham Clinton pledged to stop "price gouging" in the industry. The health care sector, a longtime favorite of investors, ended the week with its worst weekly performance in more than four years.

Biotechnology shares in the S&P 500 dropped plunged during the week, pushing the overall health care index down 5.8 percent, its worst week since August 2011. Vertex Pharmaceuticals, which focuses on developing drugs for cystic fibrosis and viral infections, was the biggest decliner in the index on Friday, dropping $7.83, or 7 percent, to $103.20.

The market had started the day with solid gains as investors were encouraged by a report that showed U.S. economic growth was faster in the spring than previously estimated.

The U.S. economy expanded at an annual rate of 3.9 percent in the April-June quarter, up from a previous estimate of 3.7 percent, the Commerce Department reported Friday. The strength came from gains in consumer spending, business investment and residential construction.

Financial companies got a boost after Federal Reserve Chair Janet Yellen said that the central bank was still likely to raise interest rates this year. She suggested global economic weakness won't be significant enough to alter the central bank's plan to raise its key short-term rate from zero by December. Record low interest rates since the 2008 global financial crisis have been a boon for stocks, underpinning a bull market that has run for six and a half years.

The combination of higher rates and a growing economy is good for financial companies. That's because they can earn more from making loans. Citigroup rose $1.42, or 2.9 percent, to $50.55 and Bank of America climbed 34 cents, or 2.2 percent, to $15.89.

"The financials are a wonderful place to be over the next several quarters if a rate rises materializes," said Jim Russell, a portfolio manager at Bahl & Gaynor Investment Counsel.

Nike was biggest gainer in the S&P 500 on Friday. The stock soared after the company's earnings surpassed analyst expectations. Nike climbed $10.21, or 8.9 percent, to $125.

Volkswagen shares fell again. The company named Matthias Mueller, the head of the group's Porsche unit, to be the new CEO. His predecessor Martin Winterkorn quit the job this week over the emissions scandal, which has tarnished the company's reputation. VW shares ended down 2.8 percent on Friday and dropped almost 30 percent for the week.

U.S. government bond prices fell. The yield on the benchmark 10-year Treasury note rose to 2.16 percent from 2.13 percent late Thursday.

The euro rose to $1.1194 while the dollar edged up to 120.60 yen.

In metals trading, gold closed $8.20 lower at $1,145.60 an ounce. Silver edged lower, dropping 1.9 cents to $15.11 and copper fell 1.9 cents to $2.28 per pound.

The price of oil rose Friday as the number of rigs drilling for oil in the U.S. fell for the fourth straight week, according to a closely watched industry count. U.S. crude rose 79 cents to close at $45.70 a barrel in New York, ending a choppy week of trading up 2.3 percent. Brent Crude, a benchmark for international oils used by many U.S. refineries, rose 43 cents to close at $48.60 a barrel in London.

In other futures trading on the NYMEX:

— Wholesale gasoline rose 3.1 cents to close at $1.396 a gallon.

— Heating oil fell 0.1 cent to close at $1.523 a gallon.

— Natural gas fell 2.7 cents to close at $2.564 per 1,000 cubic feet.

6349


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-312.78	points or ▼	-1.92%	on	Monday, 28 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,001.89	▼	-312.78	▼	-1.92%		
	Nasdaq____	4,543.97	▼	-142.53	▼	-3.04%		
	S&P_500___	1,881.77	▼	-49.57	▼	-2.57%		
	30_Yr_Bond____	2.87	▼	-0.09	▼	-3.04%		

NYSE Volume	 4,318,632,000 	 	 	 	 	  		 
Nasdaq Volume	 2,365,377,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,958.86	▼	-150.15	▼	-2.46%		
	DAX_____	9,483.55	▼	-204.98	▼	-2.12%		
	CAC_40__	4,357.05	▼	-123.61	▼	-2.76%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,145.10	▲	68.40	▲	1.35%		
	Shanghai_Comp	3,100.76	▲	8.41	▲	0.27%		
	Taiwan_Weight	8,132.35	▲	9.25	▲	0.11%		
	Nikkei_225___	17,645.11	▼	-235.40	▼	-1.32%		
	Hang_Seng.__	21,186.32	▲	90.34	▲	0.43%		
	Strait_Times.__	2,791.92	▼	-40.72	▼	-1.44%		
	NZX_50_Index_	5,699.13	▲	11.78	▲	0.21%		

http://finance.yahoo.com/news/us-stocks-fall-sharply-china-180932561.html

*US stocks fall sharply on China growth worries

US stocks plunge amid ongoing worries about the outlook for growth in China; Drugmakers slide*
Associated Press By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- Ongoing worries about the health of the Chinese economy and another big sell-off in drugmakers pushed the stock market back toward its lowest level of the year.

Energy and raw material companies dropped on reports that industrial profits at Chinese companies fell sharply in August, heightening worries about a slowdown in the world's second-biggest economy. Health care stocks fell sharply as drugmakers extended a decline that began last week.

Stocks have fallen sharply in August and September on concern that a slowdown in China is worse than previously thought and is spreading to other emerging market economies. The slowdown could start hurting U.S. companies that rely on overseas demand for a large portion of their profits.

"Whenever the market is down, the first place to look these days is China," said John Manley, chief equity strategist at Wells Fargo Fund Management. "Right now, we need evidence that China is not slowing that much and that profits are still going to be OK."

The Standard & Poor's 500 index slipped 49.57 points, or 2.6 percent, to 1,881.77. The index is now 14 points above its lowest level of the year, set Aug. 25.

The Dow Jones industrial average lost 312.78 points, or 1.9 percent, to 16,001.89. The Nasdaq composite slumped 142.53 points, or 3 percent, to 4,543.97.

Monday's slump put the S&P 500 index back in a "correction," a Wall Street term meaning a drop of 10 percent or more from a recent peak. The index is down 11.7 percent from its record close of 2,130.82, set in May of this year.

Some analysts expressed surprise at the ferocity of Monday's sell-off, given the relative strength of the U.S. economy. Hiring is coming back and the housing the market is recovering.

"The economy here is still improving. There's no reason that this selling pressure should be as severe as it has been," said Robert Pavlik chief market strategist at Boston Private Wealth.

Health care stocks are another weak link in the market.

A sell-off in drugmakers extended into a second week. The Nasdaq Biotechnology index dropped 6 percent, its worst day in more than four years. The sector ”” a recent favorite of investors ”” slumped last week after Democratic presidential candidate Hillary Rodman Clinton announced a plan to tackle rising drug costs. The sector has plunged 27 percent since reaching a peak in July.

Congressional Democrats are also pressing a Republican committee chairman to force Valeant Pharmaceuticals, a Canadian drugmaker, to turn over documents tied to price hikes imposed earlier this year. The company's U.S.-listed stock plunged $32.97, or 17 percent, to $166.50.

Alcoa was among the stocks that bucked the trend on Monday and closed higher.

The metals maker gained after announcing that it will split into two independent companies. Its bauxite, aluminum and casting operations will be in one company and its engineering and transportation businesses will be in another. The company's stock rose 52 cents, or 6 percent, to $9.59.

In addition to concerns about the outlook for growth in China, investors have also been worried about U.S. interest rates. Federal Reserve Bank of New York President William Dudley said in an interview with The Wall Street Journal on Monday that he expects policymakers will raise rates this year. The Fed has kept short-term rates close to zero for almost seven years to help the economy recover from the financial crisis.

In Europe, Volkswagen resumed its slide.

The carmaker's stock fell 7 percent as German prosecutors opened an investigation against the company's former CEO, Martin Winterkorn. The probe aims to determine who was responsible for selling vehicles with manipulated emissions data, prosecutors in Germany said in a statement.

The stocks of other European automakers, including BMW, Daimler and Fiat Chrysler also fell sharply.

U.S. government bond prices rose, pushing the yield on the 10-year Treasury note down to 2.10 percent from 2.16 percent on Friday. The euro was little changed from Friday at $1.1201 and the dollar fell 0.7 percent to 119.9 yen.

The price of oil fell sharply on concerns that weak global economic conditions would reduce demand for energy. U.S. crude fell $1.27 to close at $44.43 a barrel in New York. Brent Crude, a benchmark for international oils used by many U.S. refineries, fell $1.26 to close at $47.34 in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 4.7 cents to close at $1.349 a gallon.

”” Heating oil fell 4.5 cents to close at $1.477 a gallon.

”” Natural gas fell 0.1 cent to close at $2.563 per 1,000 cubic feet.

Gold fell $13.90 to $1,131.70 an ounce. Silver dropped 57 cents to $14.54 an ounce and copper fell 3.2 cents or $2.25 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	47.24	points or ▲	0.30%	on	Tuesday, 29 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,049.13	▲	47.24	▲	0.30%		
	Nasdaq____	4,517.32	▼	-26.65	▼	-0.59%		
	S&P_500___	1,884.09	▲	2.32	▲	0.12%		
	30_Yr_Bond____	2.86	▼	-0.02	▼	-0.52%		

NYSE Volume	 4,119,623,500 	 	 	 	 	  		 
Nasdaq Volume	 2,272,443,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,909.24	▼	-49.62	▼	-0.83%		
	DAX_____	9,450.40	▼	-33.15	▼	-0.35%		
	CAC_40__	4,343.73	▼	-13.32	▼	-0.31%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,958.10	▼	-187.00	▼	-3.63%		
	Shanghai_Comp	3,038.14	▼	-62.62	▼	-2.02%		
	Taiwan_Weight	8,132.35	▲	9.25	▲	0.11%		
	Nikkei_225___	16,930.84	▼	-714.27	▼	-4.05%		
	Hang_Seng.__	20,556.60	▼	-629.72	▼	-2.97%		
	Strait_Times.__	2,787.94	▼	-3.98	▼	-0.14%		
	NZX_50_Index_	5,612.42	▼	-86.71	▼	-1.52%		

http://finance.yahoo.com/news/health-care-stocks-push-p-210324815.html
*
Health care stocks push S&P 500 to first gain in six days

Health care stocks push S&P 500 to first gain in six days, but index remains near low of year*
Associated Press By Steve Rothwell, AP Business Writer

NEW YORK (AP) -- A rebound in the health care sector helped steady stocks on Tuesday, pushing the Standard & Poor's 500 index to its first gain in six days.

Drugmakers including Edwards Lifesciences and Medtronic were among the biggest gainers as the industry group rebounded from a sharp slump the day before.

The gains for the overall market were small. Stocks flitted between modest gains and losses for most of the day before closing slightly higher.

The market remains close to its lows for the year and is set to close out September with its worst quarterly performance in four years.

Concerns that China's economy is slowing more rapidly than previously thought have hurt the market. Investors are also preoccupied with the outlook for U.S. interest rates. Federal Reserve policymakers have said they will likely raise interest rates before the end of the year.

Some investors see a rate increase as a vote of confidence in the U.S. economy. Others think it would be a mistake to raise borrowing costs just as the global economy is showing signs of flagging.

"The Fed is still, as it has been for over a year now, the number one thing that's overriding the market," said JJ Kinahan, chief strategist at TD Ameritrade. "There's just so much skittishness, people just don't have confidence."

The S&P 500 rose 2.32 points, or 0.1 percent, to 1,884.09. The index slumped 50 points the day before and is down 8.7 percent for the third quarter.

The Dow Jones industrial average climbed 47.24 points, or 0.6 percent, to 16,049.13 The Nasdaq composite dropped 26.65 points, or 0.6 percent, to 4,517.32.

Biotechnology stocks have been a weak spot for the stock market recently. The sector has slumped on concern that lawmakers will seek to implement new regulations to curb price hikes in the industry.

On Tuesday, the Nasdaq Biotechnology Index edged down 0.6 percent, its eighth straight day of losses. The index has slumped 27 percent from its peak in July, putting it in a bear market, Wall Street terminology for a drop of 20 percent or more.

Brad Sorensen, a director at the Schwab Center for Financial Research, said he wasn't surprised by the sell-off in biotech stocks given how sharply valuations have climbed in recent years.

"The biotech industry was concerning to us," Sorensen said. "It clearly had bubble-like characteristics with a lot of speculative money moving into it and a lot of IPOs."

Yahoo was among the stronger stocks on Tuesday.

The stock rose 66 cents, or 2.4 percent, to $28.26 after the company said that it still planned to spin off its stake in China's Alibaba Group. Yahoo is moving ahead with the plan even though the IRS has yet to rule on the tax payments that the company could face from the gains on its initial investment.

Investors also got some good news on the economy from a report showing that American consumers were feeling more confident this month. The Conference Board, a business research group, said Tuesday that its consumer confidence index rose to 103 in September after surging in August to 101.3. The September reading was the highest since January.

The price of oil rose on expectations that the Energy Department will report a slowdown in U.S. crude production when it releases its monthly petroleum supply report Wednesday. U.S. crude rose 80 cents to close at $45.23 a barrel in New York. Brent Crude, a benchmark for international oils used by many U.S. refineries, rose 89 cents to close at $48.23 a barrel in London.

Bond prices rose slightly. The yield on the 10-year Treasury note fell to 2.05 percent from 2.09 percent a day earlier. The euro edged up to $1.1250 and the dollar slipped to 119.72 yen.

In Europe, Germany's DAX edged down 0.3 percent and the CAC-40 in France was down by the same amount. The FTSE 100 index of leading British shares lost 0.8 percent.

Gold fell $4.90 to $1,126.80 an ounce. Silver dropped 3.5 cents to $14.57 an ounce and copper was unchanged at $2.25 per pound

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 1.4 cents to close at $1.363 a gallon.

”” Heating oil rose 2 cents to close at $1.498 a gallon.

”” Natural gas fell 8.4 cents to close at $2.586 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	235.57	points or ▲	1.47%	on	Wednesday, 30 September 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,284.70	▲	235.57	▲	1.47%		
	Nasdaq____	4,620.16	▲	102.84	▲	2.28%		
	S&P_500___	1,920.03	▲	35.94	▲	1.91%		
	30_Yr_Bond____	2.88	▲	0.02	▲	0.88%		

NYSE Volume	 4,507,503,500 	 	 	 	 	  		 
Nasdaq Volume	 2,366,198,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,061.61	▲	152.37	▲	2.58%		
	DAX_____	9,660.44	▲	210.04	▲	2.22%		
	CAC_40__	4,455.29	▲	111.56	▲	2.57%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,058.60	▲	100.50	▲	2.03%		
	Shanghai_Comp	3,052.78	▲	14.64	▲	0.48%		
	Taiwan_Weight	8,181.24	▲	48.89	▲	0.60%		
	Nikkei_225___	17,388.15	▲	457.31	▲	2.70%		
	Hang_Seng.__	20,846.30	▲	289.70	▲	1.41%		
	Strait_Times.__	2,790.89	▲	2.95	▲	0.11%		
	NZX_50_Index_	5,593.36	▼	-19.06	▼	-0.34%		

http://finance.yahoo.com/news/big-gain-stocks-end-turbulent-200939775.html

*A big gain for stocks at the end of a turbulent quarter

US stocks rally on last day of a turbulent quarter; Ralph Lauren soars after naming new CEO*
Associated Press By Bernard Condon, AP Business Writer

NEW YORK (AP) -- U.S. stocks rose across the board Wednesday following big gains in Asia and Europe, a buoyant end to the worst quarter for the market in four years.

From worries over a slowing Chinese economy, uncertainty over interest rates and a scary slide in commodity prices, stocks have been hit with one blow after another in the past three months. But on Wednesday, investors were in the mood to buy, especially stocks that have been battered recently. Energy companies and raw material suppliers, the biggest losers in the quarter, rose more than 2 percent each.

The buying began at the opening of trading and swept across all 10 sectors of the Standard and Poor's 500 index. Among the big gainers, fashion company Ralph Lauren jumped 14 percent after announcing a new CEO would take over from its namesake founder.

Tim Courtney, chief investment officer of Exencial Wealth Advisors, said it was only a matter of time before investors started buying given the recent drops.

"I've been surprised we haven't had rallies like the one we're seeing now," Courtney said. After "so many negative days, you're going to get a bounceback."

The S&P 500 jumped 35.94 points, or 1.9 percent, to 1,920.03. The index has fallen seven of the past 10 days, and is off 6.9 percent in the July-September period, the worst quarterly performance since 2011.

The Dow Jones industrial average gained 235.57 points, or 1.5 percent, to 16,284.70. It fell 7.6 percent in the quarter. The Nasdaq composite climbed 102.84 points, or 2.3 percent, to 4,620.16.

The rally in the U.S. followed even bigger gains overseas. Stocks indexes in France, Germany, Britain and Japan all climbed more than 2 percent.

The rocky third quarter began with fears over Greece's debt, then moved on to worries about a rout in Chinese stocks, signs of slowing growth in the country, the world's second largest, and plunging currencies in developed countries that export to it. The S&P 500 dropped more than 10 percent in August from his May high, a drop known on Wall Street as a "correction."

"It's been ugly," said John Canally, an investment strategist at LPL Financial. "We hadn't had a 10 percent pullback since 2011, and people forget how to act."

All five of the biggest drops in the year for the S&P 500 occurred in the last three months. Investors were so jumpy, they even sold on news that previously would have triggered buying. When the Federal Reserve announced earlier this month that it would hold off raising interest rates, the S&P 500 slipped.

On Wednesday, investors mustered enough courage to buy even biotechnology companies, breaking an eight-day streak of drops for the battered sector. The Nasdaq Biotechnology index, down 24 percent from a peak in July, rose 4.5 percent. It fell sharply last week after Democratic presidential front-runner Hillary Clinton tweeted that drug prices were too high, then said she would use government drug-buying programs to slash prices if elected.

Among stocks making big moves on Wednesday, Western Digital surged $10.57, or 15 percent, to $79.44 after the digital storage company agreed to a $3.8 billion investment from China's Unisplendour Corp.

The Gap fell $1.72, or nearly 6 percent, to $28.50. The new CEO of Ralph Lauren, Stefan Larsson, will leave his current job as global president of Gap's low-price Old Navy chain. Ralph Lauren rose $14.11 to $118.16.

Chesapeake Energy rose 54 cents, or 8 percent, to $7.33 after announcing that it would cut 15 percent of its workforce.

Investors are waiting for jobs data due out on Friday for clues about when the Federal Reserve may raise interest rates. Policymakers have said they will likely raise rates before the end of the year. On Wednesday, U.S. payroll processor ADP reported that U.S. employers added 200,000 jobs this month, up from 180,000 the previous month.

The price of oil fell slightly as total U.S. crude inventories rose. U.S. crude fell 14 cents to close at $45.09 a barrel in New York. Oil finished the volatile month down 8 percent.

Brent Crude, a benchmark for international oils used by many U.S. refineries, rose 14 cents to close at $48.37 a barrel in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 2.6 cents to close at $1.389 a gallon.

”” Heating oil rose 1.5 cents to close at $1.513 a gallon.

”” Natural gas fell 6.2 cents to close at $2.524 per 1,000 cubic feet.

Prices of U.S. government bonds didn't move much. The yield on the 10-year Treasury note held steady at 2.05 percent.

Precious metals futures ended slightly lower, but copper prices surged. Gold slipped $11.60 to $1,115.20 an ounce, silver fell six cents to $14.52 an ounce and copper jumped nine cents to $2.34 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-12.69	points or ▼	-0.08%	on	Thursday, 1 October 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,272.01	▼	-12.69	▼	-0.08%		
	Nasdaq____	4,627.08	▲	6.92	▲	0.15%		
	S&P_500___	1,923.82	▲	3.79	▲	0.20%		
	30_Yr_Bond____	2.85	▼	-0.03	▼	-0.97%		

NYSE Volume	 3,954,817,500 	 	 	 	 	  		 
Nasdaq Volume	 2,104,732,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,072.47	▲	10.86	▲	0.18%		
	DAX_____	9,509.25	▼	-151.19	▼	-1.57%		
	CAC_40__	4,426.54	▼	-28.75	▼	-0.65%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,144.10	▲	85.50	▲	1.69%		
	Shanghai_Comp	3,052.78	▲	14.64	▲	0.48%		
	Taiwan_Weight	8,295.94	▲	114.70	▲	1.40%		
	Nikkei_225___	17,722.42	▲	334.27	▲	1.92%		
	Hang_Seng.__	20,846.30	▲	289.70	▲	1.41%		
	Strait_Times.__	2,801.85	▲	10.96	▲	0.39%		
	NZX_50_Index_	5,585.43	▼	-7.93	▼	-0.14%		

http://finance.yahoo.com/news/us-stocks-end-little-changed-201132971.html

*US stocks end little changed before monthly jobs report

US stocks close little changed after worst quarter in 4 years; investors await jobs report*
Associated Press By The Associated Press

NEW YORK (AP) -- A late turn gave the stock market a meagre gain to start the month Thursday, a day after it finished its worst quarter in four years.

Investors were looking ahead to Friday when the government releases its monthly jobs report. Economists forecast that employers added 200,000 workers to their payrolls last month. Strong hiring would likely raise expectations that the Federal Reserve will increase its benchmark interest rate at its next meeting later this month.

If the jobs report were to show a gain of more than 200,000, people will start wondering about the Fed's next move, said Brad McMillan, chief investment officer at the Commonwealth Financial Network. "That could mean we're in for another big drop," he said.

Mounting concerns about slowing global economic growth and the timing of the Fed's first interest-rate hike in nearly a decade battered markets over recent months.

Without any big developments to drive the action on Thursday, trading appeared aimless. The Standard & Poor's 500 index took a sharp fall in the morning, languished throughout the afternoon then climbed back to finish the day with a slight gain.

The S&P 500 added 3.79 points, or 0.2 percent, to close at 1,923.82.

The Dow Jones industrial average fell 12.69 points, or 0.1 percent, to 16,272.01 and the Nasdaq composite gained 6.92 points, or 0.2 percent, to 4,627.08.

On Wednesday, the S&P 500, the most widely used measure of U.S. investments, closed out the quarter with a 7.4 percent loss.

"It has been a painful experience, but that's what creates opportunities," said Tom Dinegan, an equity strategist at UBS Wealth Management. "There's more panic in the market than there is in the economy."

Among companies in the news, Dunkin' Brands plunged 12 percent after the company's revenue estimates fell short of analysts' forecasts. Dunkin' Brands dropped $6 to an even $43.

Twitter lost 8.4 percent amid reports that the social-media company will name co-founder Jack Dorsey as CEO for a second time. Its stock sank $2.26 to $24.68.

In Europe, Germany's DAX fell 1.6 percent, and France's CAC-40 fell 0.7 percent. The FTSE 100 index of leading British shares edged up 0.2.

There was some encouraging news out of China where an official measure of manufacturing rose in September, up from its lowest level in three years.

Elsewhere in Asia, Japan's Nikkei 225 jumped 1.9 percent, South Korea's Kospi rose 0.8 percent, and Australia's S&P/ASX 200 advanced 1.8 percent.

Prices for U.S. government bonds edged up, nudging the yield down to 2.04 percent from 2.05 percent late Wednesday. The euro rose to $1.1188 while the dollar dipped to 119.90 yen.

Precious and industrial metals settled with small losses. Gold dropped $1.50 to finish at $1,113.70 an ounce, and silver slipped a penny to $14.51 an ounce. Copper lost 4 cents to $2.30 per pound.

The price of oil fell Thursday on weakness in U.S. manufacturing, which could lead to lower demand for crude. The Institute for Supply Management said Thursday that U.S. manufacturers expanded at their slowest pace in two years last month, held back by faltering global growth.

The price of crude oil fell 35 cents to close at $44.74 a barrel in New York. Brent Crude, a benchmark for international oils used by many U.S. refineries, fell 68 cents to close at $47.69 in London.

In other futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline remained unchanged at $1.367 a gallon.

”” Heating oil fell 1.7 cents to close at $1.520 a gallon.

”” Natural gas fell 9.1 cents to close at $2.433 per 1,000 cubic feet, its lowest level since the summer of 2012, on high supplies.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	200.36	points or ▲	1.23%	on	Friday, 2 October 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,472.37	▲	200.36	▲	1.23%		
	Nasdaq____	4,707.78	▲	80.69	▲	1.74%		
	S&P_500___	1,951.36	▲	27.54	▲	1.43%		
	30_Yr_Bond____	2.83	▼	-0.03	▼	-0.91%		

NYSE Volume	 4,355,894,000 	 	 	 	 	  		 
Nasdaq Volume	 2,165,175,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,129.98	▲	57.51	▲	0.95%		
	DAX_____	9,553.07	▲	43.82	▲	0.46%		
	CAC_40__	4,458.88	▲	32.34	▲	0.73%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,089.20	▼	-54.90	▼	-1.07%		
	Shanghai_Comp	3,052.78	▲	14.64	▲	0.48%		
	Taiwan_Weight	8,305.03	▲	9.09	▲	0.11%		
	Nikkei_225___	17,725.13	▲	2.71	▲	0.02%		
	Hang_Seng.__	21,506.09	▲	659.79	▲	3.17%		
	Strait_Times.__	2,793.15	▼	-8.70	▼	-0.31%		
	NZX_50_Index_	5,593.51	▲	8.08	▲	0.14%		

http://finance.yahoo.com/news/stock-market-shakes-early-stumble-201355467.html

*Stock market shakes of an early stumble, ends higher

Stock markets shakes off an early stumble and ends higher, led by gains in energy sector*
Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- News of slower hiring last month jolted markets early Friday, driving government bonds up and the dollar down. The stock market, after slumping in early trading, finished the day with a solid gain.

A jump in crude oil helped turn things around, as Chevron, Exxon Mobil and other oil giants charged higher. But the swing was also a result of traders speculating that the weak jobs report will prevent the Federal Reserve from raising its benchmark interest rate anytime soon. The Fed has only two meetings left to make a move this year: one later this month and another in December.

"It looks like October is clearly off the table," said Michael Arone, chief investment strategist at State Street Global Advisors. "I think it puts into question December, too."

The government reported that employers added 142,000 workers last month, much lower than the 200,000 anticipated on Wall Street, and hired fewer people in July and August than previously thought. The unemployment rate stayed at 5.1 percent, but only because many Americans have stopped looking for work and are no longer counted as unemployed.

"There's just no positive spin you can put on it," said Russ Koesterich, BlackRock's global chief investment strategist. "Combined with other reports, it really raises questions about the strength of the recovery."

Major indexes fell hard at the opening of trading, with the Dow Jones industrial average losing as much as 258 points, then reversed course and charged higher throughout the afternoon.

The Dow gained 200.36 points, or 1.2 percent, to close at 16,472.37.

The Standard & Poor's 500 index surged 27.54 points, or 1.4 percent, to 1,951.36. The Nasdaq composite rose 80.69 points, or 1.7 percent, to 4,707.78.

Sometimes, bad news looks like good news for investors. It's been a confusing theme ever since the Fed cut its benchmark rate to near zero during the financial crisis in 2008, helping to set off a stock-market rally.

In the upside-down logic of Wall Street, discouraging economic reports have often been treated as encouraging because it meant the Fed would keep lending rates at record lows. Low rates help drive money into stocks, partly by making the returns on bonds, CDs and other income-producing investments seem paltry by comparison.

In Europe, major indexes finished slightly higher. Germany's DAX rose 0.5 percent, France's CAC-40 rose 0.7 percent, and Britain's FTSE 100 added 0.9 percent.

Markets in Asia drifted, with Japan's Nikkei 225 rising less than 0.1 percent. South Korea's Kospi slipped 0.5 percent. Hong Kong's Hang Seng rebounded after a holiday, jumping 3.2 percent. Australia's S&P/ASX 200 lost 1.2 percent to 5,052.00. Markets on mainland China remain closed for holidays until Oct. 8.

Back in the U.S., Nordstrom's stock climbed after announcing that it will pay a special dividend and spend up to $1 billion buying its own shares. The department-store chain gained $3.69, or 5 percent, to $75.12.

U.S. government bond prices jumped, driving the yield on the 10-year down to 1.98 percent, down from 2.04 percent late Thursday. It fell as low as 1.91 percent in morning trading, its lowest level since April. The euro rose to $1.1218.

In the commodity markets, precious metals finished with big gains. Gold jumped $22.90, or 2 percent, to $1,136.60 an ounce, and silver soared 75 cents, or 5 percent, to $15.26 an ounce. Copper rose 2 cents, or 1 percent, to $2.33 a pound.

The price of oil bounced back from two days of losses. U.S. crude gained 80 cents to close at $45.54 a barrel in New York. Brent Crude, a benchmark for international oils used by many U.S. refineries, rose 44 cents to close at $48.13 a barrel in London.

In other futures trading on the New York Mercantile Exchange:

— Wholesale gasoline fell 2.5 cents to close at $1.341 a gallon.

— Heating oil was little changed at $1.520 a gallon.

— Natural gas rose 1.8 cents to close at $2.451 per 1,000 cubic feet.

7004


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	304.06	points or ▲	1.85%	on	Monday, 5 October 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,776.43	▲	304.06	▲	1.85%		
	Nasdaq____	4,781.26	▲	73.49	▲	1.56%		
	S&P_500___	1,987.05	▲	35.69	▲	1.83%		
	30_Yr_Bond____	2.90	▲	0.07	▲	2.55%		

NYSE Volume	 4,301,827,500 	 	 	 	 	  		 
Nasdaq Volume	 1,976,090,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,298.92	▲	168.94	▲	2.76%		
	DAX_____	9,814.79	▲	261.72	▲	2.74%		
	CAC_40__	4,616.90	▲	158.02	▲	3.54%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,184.10	▲	94.90	▲	1.86%		
	Shanghai_Comp	3,052.78	▲	14.64	▲	0.48%		
	Taiwan_Weight	8,352.36	▲	47.33	▲	0.57%		
	Nikkei_225___	18,005.49	▲	280.36	▲	1.58%		
	Hang_Seng.__	21,854.50	▲	348.41	▲	1.62%		
	Strait_Times.__	2,851.25	▲	58.10	▲	2.08%		
	NZX_50_Index_	5,630.54	▲	37.03	▲	0.66%		

http://finance.yahoo.com/news/us-stocks-end-sharply-higher-201349483.html

*US stocks end sharply higher; GE leads gains in industrials

US stocks jump; energy companies climb along with price of oil; General Electric, Twitter up*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks rallied in the U.S. and overseas Monday after last week's gloomy jobs report led investors to expect that the Federal Reserve will wait even longer before making its first interest rate increase since the financial crisis.

Energy stocks rose along with the price of oil, while General Electric pushed industrial stocks higher.

On Monday the Dow Jones industrial average added 304.06 points, or 1.9 percent, to 16,776.43. The Standard & Poor's 500 index rose 35.69 points, or 1.8 percent, to 1,987.05 and the Nasdaq composite index rose 73.49 points, or 1.6 percent, to 4,781.26.

It was the fifth straight day of gains for the S&P 500, a reversal of the five consecutive losses for the index right before the rally began.

Monday's rally was a continuation of a surge that began Friday, when the Labor Department said U.S. employers created only 142,000 jobs in September, far less than expected. Last week's jobs report is being taken as positive by investors who want the Fed to postpone raising interest rates. The Fed next meets at the end of this month and again in late December. Ultra-low interest rates in place since the 2008 financial crisis have helped drive stock prices higher.

"It seems clear that investors have decided that the Federal Reserve cannot raise rates at its October meeting and probably cannot raise rates for longer than that," said Kristina Hooper, head of investment strategies for the U.S. at Allianz Global Investors.

Hooper pointed to the trading of Fed fund futures, which are securities that bet on which way the Fed will move interest rates. Those futures now indicate that investors expect the most likely timing for the next rate increase is March 2016.

Whether the Fed agrees with investors remains to be seen. Fed officials, including Janet Yellen, have said the central bank is looking to start raising rates this year. On Thursday, investors will get the minutes from the Fed's September meeting, which should provide insight into where Fed policymakers stand.

Monday's gains were broad. Higher energy prices pushed oil and gas stocks to gains. U.S. crude gained 72 cents to close at $46.26 a barrel in New York. Brent Crude, a benchmark for international oils used by many U.S. refineries, rose $1.12 to close at $49.25 a barrel in London.

The energy sector of the S&P 500 gained 2.9 percent, much more than the rest of the market.

Dow member General Electric rose $1.35, or 5.3 percent, to $26.82 after activist investor Nelson Peltz disclosed he had accumulated a $2.5 billion stake in GE. Peltz is likely to put more pressure on GE's CEO Jeffrey Immelt to raise the company's stock price, which has lingered around $25-$26 a share for the last two years.

Alphabet Inc., the new parent company of Google, rose $14.69, or 2.2 percent, to $671.68. Google announced earlier this year that it would reorganize. Alphabet will be the parent company, with Google being the largest subsidiary. This would allow investors to see how well Google's core business was doing, separately from its more experimental ventures like driverless cars. Monday was the first day the company started trading as Alphabet.

Twitter jumped $1.84, or 7 percent, to $28.15 after the company said it was moving its co-founder Jack Dorsey into the CEO position full-time. Dorsey had been interim CEO since June.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.06 percent from 1.99 percent late Friday.

The dollar rose to 120.43 yen. The euro fell to $1.1188.

Precious and industrial metals futures closed higher. Gold edged up $1 to settle at $1,137.60 an ounce, silver rose 45 cents to $15.71 an ounce and copper increased three cents to $2.36 a pound.

In other futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline rose 4.4 cents to close at $1.388 a gallon.

”” Heating oil rose 2.8 cents to close at $1.548 a gallon.

”” Natural gas fell 0.1 cents to close at $2.45 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	13.76	points or ▲	0.08%	on	Tuesday, 6 October 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,790.19	▲	13.76	▲	0.08%		
	Nasdaq____	4,748.36	▼	-32.90	▼	-0.69%		
	S&P_500___	1,979.92	▼	-7.13	▼	-0.36%		
	30_Yr_Bond____	2.87	▼	-0.03	▼	-0.86%		

NYSE Volume	 4,189,089,250 	 	 	 	 	  		 
Nasdaq Volume	 2,069,972,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,326.16	▲	27.24	▲	0.43%		
	DAX_____	9,902.83	▲	88.04	▲	0.90%		
	CAC_40__	4,660.64	▲	43.74	▲	0.95%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,199.00	▲	14.90	▲	0.29%		
	Shanghai_Comp	3,052.78	▲	14.64	▲	0.48%		
	Taiwan_Weight	8,394.10	▲	41.74	▲	0.50%		
	Nikkei_225___	18,186.10	▲	180.61	▲	1.00%		
	Hang_Seng.__	21,831.62	▼	-22.88	▼	-0.10%		
	Strait_Times.__	2,897.41	▲	46.16	▲	1.62%		
	NZX_50_Index_	5,668.11	▲	37.57	▲	0.67%		

http://finance.yahoo.com/news/rally-energy-stocks-doesnt-lift-201015922.html

*A rally in energy stocks doesn't lift broader market

Stocks end slightly lower as biotechnology stocks drag down broader market; DuPont jumps*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- U.S. stocks paused Tuesday, closing moderately lower after five straight days of gains. DuPont and energy companies rose sharply, but the overall market was weighed down by health-care stocks, especially biotechnology companies.

Investors remain mostly in standby mode, with the closely watched minutes from the Federal Reserve's September meeting coming out on Thursday and third-quarter company earnings just around the corner.

The Dow Jones industrial average added 13.76 points, or 0.1 percent, to 16,790.19. The Standard & Poor's 500 index lost 7.13 points, or 0.4 percent, to 1,979.92 and the Nasdaq composite lost 32.90 points, or 0.7 percent, to 4,748.36.

The biggest gainer in the S&P 500 and Dow was chemical giant DuPont, which rose $3.93, or nearly 8 percent, to $55.21. DuPont's CEO Ellen Kullman announced she would retire effective next week. DuPont's profits have lagged in recent years, and the company has been a target of activist investors like Nelsen Peltz.

Biotechnology stocks were hit hard. The Nasdaq Biotechnology Index fell nearly 4 percent after the recently announced 12-nation Trans-Pacific Partnership trade deal provided only eight years of certain kinds of drug patent protection, less than the 12 years that the industry was lobbying for.

Biotech stocks have been hammered in recent months because of investor concerns that the industry might face more scrutiny from Washington over its drug pricing practices. The index is down 24 percent from its peak in late July.

Barring some geopolitical crisis or massive company news, the next major move for the market will likely come Thursday, when investors will get the minutes from the Fed's latest policy meeting in September.

Investors are increasingly confident the Federal Reserve will hold off for longer than previously expected on raising interest rates following last week's jobs report, which showed that the U.S. economy was creating fewer jobs.

Securities that allow investors to bet on which way the Fed will move interest rates now show the market expects the next rate hike will come in March 2016. The minutes, which break down the issues the Fed addressed at their last meeting, should provide clues on whether policymakers still feel confident about raising interest rates.

"We need to see if they had signs that last week's bad jobs report was coming, and decided to hold off on raising rates then, or if they are still set on moving this year," said J.J. Kinahan, chief market strategist at TD Ameritrade.

In energy markets, oil rose after the Energy Department said U.S. crude oil production declined by 120,000 barrels per day in September compared with August. The agency also expects oil production to decline from an average of 9.2 million barrels per day this year to 8.9 million barrels per day in 2016.

U.S. benchmark crude jumped $2.27 to close at $48.53 a barrel on the New York Mercantile Exchange. That helped send oil and gas companies sharply higher. ConocoPhillips, Chevron and ExxonMobil rose between 2 and 4 percent each.

Brent Crude, a benchmark for international oils used by many U.S. refineries, rose $2.67 to $51.92 a barrel in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 5.1 cents to close at $1.436 a gallon.

”” Heating oil rose 6.3 cents to close at $1.612 a gallon.

”” Natural gas rose 2 cents to close at $2.47 per 1,000 cubic feet.

U.S. government bond prices rose slightly. The yield on the 10-year Treasury note edged down to 2.04 percent. The dollar rose to 120.25 yen and the euro rose to $1.1269.

In metals trading, the price of gold rose $8.80 to $1,146.40 an ounce, silver rose 28 cents to $15.98 an ounce and copper was little changed at $2.36 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	122.1	points or ▲	0.73%	on	Wednesday, 7 October 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,912.29	▲	122.10	▲	0.73%		
	Nasdaq____	4,791.15	▲	42.79	▲	0.90%		
	S&P_500___	1,995.83	▲	15.91	▲	0.80%		
	30_Yr_Bond____	2.89	▲	0.01	▲	0.45%		

NYSE Volume	 4,595,588,500 	 	 	 	 	  		 
Nasdaq Volume	 2,122,660,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,336.35	▲	10.19	▲	0.16%		
	DAX_____	9,970.40	▲	67.57	▲	0.68%		
	CAC_40__	4,667.34	▲	6.70	▲	0.14%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,228.40	▲	29.40	▲	0.57%		
	Shanghai_Comp	3,052.78	▲	14.64	▲	0.48%		
	Taiwan_Weight	8,495.23	▲	101.13	▲	1.20%		
	Nikkei_225___	18,322.98	▲	136.88	▲	0.75%		
	Hang_Seng.__	22,515.76	▲	684.14	▲	3.13%		
	Strait_Times.__	2,961.81	▲	64.40	▲	2.22%		
	NZX_50_Index_	5,650.03	▼	-18.08	▼	-0.32%		

http://finance.yahoo.com/news/down-day-stock-market-ends-203419042.html
*
An up-and-down day for stock market ends with a solid gain

After a see-saw day, the stock market ends with a gain; Yum Brands plunges on China weakness*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks posted solid gains in a quiet session Wednesday, helped by advances in health-care and industrial companies.

Without any major economic reports to work with, trading was lighter than usual. Many investors remain on the sidelines ahead of Thursday's release of minutes from the Federal Reserve's latest policy meeting and the start of corporate earnings season.

The Dow Jones industrial average rose 122.10 points, or 0.7 percent, to 16,912.29. The Standard & Poor's 500 index added 15.91 points, or 0.8 percent, to 1,995.83 and the Nasdaq composite rose 42.79 points, or 0.9 percent, to 4,791.15.

The biggest gainers were stocks that were hit hardest the day before: health-care, particularly biotechnology companies, and energy stocks. Drugmaker Amgen rose nearly 5 percent, Celgene rose 4 percent and Regeneron Pharmaceuticals rose nearly 6 percent.

By far the biggest loser in the S&P 500 index was Yum Brands, the parent company of KFC, Taco Bell and Pizza Hut. Yum sank $15.71, or 19 percent, to $67.71 after the restaurant operator's profits and sales missed analysts' expectations. Sales in China, a major market for KFC, rose only 2 percent, far less than expected.

Events over the next two weeks are likely to determine the market's next move. Earnings season will unofficially start Thursday when Alcoa, the giant maker of aluminum and other metals, will report its results.

Expectations for this round of earnings are low. Analysts expect third-quarter results to be down 5.1 percent from last year, according to FactSet, which would be the first back-to-back quarterly drop in earnings since 2009.

"Expectations are so low this quarter that it's not going to be hard for companies to beat," said Jack Ablin, chief investment officer at BMO Private Bank, overseeing $66 billion in assets.

Another concern lingering on investors' minds is whether the global economy is entering a downturn. Those fears were stoked by a report from the IMF that China's slowdown and tumbling commodity prices will push global economic growth this year to the lowest level since the 2009 recession.

With that in mind, companies, particularly those with exposure to businesses outside the U.S., are likely to be in focus this quarter, Ablin said.

"We need to see how the impact of international trade and global growth is having on the multinationals here," he said.

Oil prices gave up an early gain and turned lower after the Energy Department reported that U.S. oil inventories rose by 3.1 million barrels last week and that demand for oil fell slightly. Oil had rallied earlier on signs that producers were cutting back production.

Benchmark U.S. oil fell 72 cents, or 1.5 percent, at $47.81 a barrel in New York. It had been up 2 percent earlier. Brent Crude, which is used to price international oils, lost 59 cents, or 1.1 percent, to $51.33 a barrel in London.

In other futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline fell 4.6 cents to close at $1.390 a gallon.

”” Heating oil fell 3.2 cents to close at $1.580 a gallon.

”” Natural gas rose less than a penny to close at $2.474 per 1,000 cubic feet.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.07 percent. The euro edged down to $1.1240 and the dollar slipped to 119.98 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	138.46	points or ▲	0.82%	on	Thursday, 8 October 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,050.75	▲	138.46	▲	0.82%		
	Nasdaq____	4,810.79	▲	19.64	▲	0.41%		
	S&P_500___	2,013.43	▲	17.60	▲	0.88%		
	30_Yr_Bond____	2.95	▲	0.06	▲	2.08%		

NYSE Volume	 3,922,273,750 	 	 	 	 	  		 
Nasdaq Volume	 1,969,022,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,374.82	▲	38.47	▲	0.61%		
	DAX_____	9,993.07	▲	22.67	▲	0.23%		
	CAC_40__	4,675.91	▲	8.57	▲	0.18%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,241.40	▲	13.00	▲	0.25%		
	Shanghai_Comp	3,143.36	▲	90.58	▲	2.97%		
	Taiwan_Weight	8,445.96	▼	-49.27	▼	-0.58%		
	Nikkei_225___	18,141.17	▼	-181.81	▼	-0.99%		
	Hang_Seng.__	22,354.91	▼	-160.85	▼	-0.71%		
	Strait_Times.__	2,947.03	▼	-14.78	▼	-0.50%		
	NZX_50_Index_	5,626.29	▼	-23.74	▼	-0.42%		

http://finance.yahoo.com/news/stocks-gain-signs-point-fed-203237345.html

*Stocks gain as signs point to Fed keeping interest rates low

US stocks gain as signs point to Federal Reserve keeping rates low; energy sector climbs*
Associated Press By Ken Sweet and Marley Jay, AP Business Writers

NEW YORK (AP) -- Signs that the Federal Reserve would keep interest rates low for several more months pushed stocks broadly higher on Thursday, adding to what has been a near eight-day rally. Energy stocks advanced with the price of oil.

The Dow Jones industrial average rose 138.46 points, or 0.8 percent, to 17,050.75. The Standard & Poor's 500 index rose 17.60 points, or 0.9 percent, to 2,013.43 and Nasdaq composite rose 19.64 points, or 0.4 percent, to 4,810.79.

The S&P 500 has risen seven out of the last eight sessions and is now above 2,000, a psychological milestone, for the first time since mid-August.

Stocks spent most of the morning little changed, but moved steadily higher after investors had a chance to work through the minutes from the Fed's September policy meeting.

In the minutes, Fed officials expressed confidence that the U.S. economy was improving, citing the improving job market. But policymakers had concerns that inflation continues to remain abnormally low, noting the recent drop in commodity prices, which were a major reason why the Fed did not raise interest rates.

The Fed has kept interest rates near zero for nearly seven years now. The Fed has repeatedly signaled it wants to raise interest rates, but it has held off on doing so.

"The Federal Reserve is waiting for the ideal time to raise rates. But, for those who live in the real world, we know that there is not a 'perfect' time to raise interest rates," said David Libovitz, global market strategist at JPMorgan Funds.

Scott Clemons, chief investment strategist for Brown Brothers Harriman's wealth management business, said investors no longer expect rates to go up this year, even though Chair Janet Yellen has said that's likely to happen. He added that the central bank is "beginning to falter" in communicating to investors what its plans are.

"The market has begun to conclude that they're the boy who cried wolf" where raising interest rates are concerned, Clemons said.

The price of oil rose Thursday as the dollar weakened, making oil more attractive to overseas buyers, and on concerns that Russia's military actions in Syria raised the threat of a wider conflict in the region.

Energy stocks were among the biggest gainers on Thursday, following oil higher. Marathon Oil rose 5 percent, Occidental Petroleum was up 3 percent and Hess Corp. added 4 percent.

Benchmark U.S. oil rose $1.62, or 3.4 percent, at $49.43 a barrel in New York. Brent Crude, which is used to price international oils, gained $1.72, or 3.4 percent, to $53.05 a barrel in London.

In other futures trading on the New York Mercantile Exchange, wholesale gasoline rose 1.8 cents to close at $1.408 a gallon. Heating oil rose 2.2 cents to close at $1.602 a gallon and natural gas rose 2.4 cents to close at $2.498 per 1,000 cubic feet.

Netflix had a strong day as well, rising $6.83, or 6 percent, to $114.93. The streaming movie and TV show company announced it was increasing prices on its most popular plan to cover the higher costs for its new original shows and series.

With stocks posting solid advances, investors sold bonds, pushing yields higher. The yield on the 10-year Treasury note rose to 2.10 percent from 2.07 percent late Wednesday. The euro rose to $1.1274 while the dollar was little changed at 119.94 yen.

Precious and industrial metals futures ended lower. Gold lost $4.40 to $1,144.30 an ounce, silver fell 33 cents to $15.77 an ounce and copper declined two cents to $2.34 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	33.74	points or ▲	0.20%	on	Friday, 9 October 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,084.49	▲	33.74	▲	0.20%		
	Nasdaq____	4,830.47	▲	19.68	▲	0.41%		
	S&P_500___	2,014.89	▲	1.46	▲	0.07%		
	30_Yr_Bond____	2.93	▼	-0.02	▼	-0.64%		

NYSE Volume	 3,675,479,250 	 	 	 	 	  		 
Nasdaq Volume	 1,779,859,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,416.16	▲	41.34	▲	0.65%		
	DAX_____	10,096.60	▲	103.53	▲	1.04%		
	CAC_40__	4,701.39	▲	25.48	▲	0.54%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,309.20	▲	67.80	▲	1.29%		
	Shanghai_Comp	3,183.15	▲	39.79	▲	1.27%		
	Taiwan_Weight	8,445.96	▼	-49.27	▼	-0.58%		
	Nikkei_225___	18,438.67	▲	297.50	▲	1.64%		
	Hang_Seng.__	22,458.80	▲	103.89	▲	0.46%		
	Strait_Times.__	2,998.50	▲	51.47	▲	1.75%		
	NZX_50_Index_	5,638.79	▲	13.01	▲	0.23%		

http://finance.yahoo.com/news/stocks-close-best-week-small-200916959.html

*Stocks close out best week of the year with a small gain

US stocks close out their best week of the year with a modest advance; airlines among gainers*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- The stock market closed out its best week this year with a modest gain on Friday, helped by airlines and industrial companies.

Investors now turn their focus to corporate earnings, which will start to pick up next week.

The Dow Jones industrial average rose 33.74 points, or 0.2 percent, to 17,084.49. The Standard & Poor's 500 index rose 1.46 points, or 0.1 percent, to 2,014.89 and the Nasdaq composite rose 19.68 points, or 0.4 percent, to 4,830.47.

The S&P 500 ended the week up 3.3 percent, its best week since mid-December. Global markets also had a strong week, with markets in Germany and France rising more than 5 percent. In Asia, markets in Japan, China and Hong Kong are up roughly 4 percent each.

Most of the gains this week came immediately following the release of last week's disappointing jobs report, which sent a signal to investors that the Federal Reserve would hold pat on raising interest rates at least for several more months. That signal was reinforced Thursday, when the minutes from the September Fed meeting showed policymakers are too concerned about low inflation and the slowdown in China to raise interest rates.

"In short, we found little to change our view that the first Fed hike will not occur in 2015 (and the) market has reached the same conclusion," wrote Ajay Rajadhyaksha, head of fixed-income at Barclays, in a report.

One sector that did push higher was airlines. The companies said they flew nearly full flights last month, an important profit driver for the industry. United Continental flew flights on average 82.9 percent full; while American Airlines reported its flights were 82.7 percent full.

United Continental rose 6.6 percent, American rose 6.7 percent, JetBlue Airways and Southwest Airlines added 3 percent each.

One industrial company that did not do well was Alcoa, the aluminum company, which fell 75 cents, or 7 percent, to $10.26. The company reported a steep drop in profits for its third quarter, citing lower aluminum prices and a strong U.S. dollar.

Investors are now positioning themselves for corporate earnings, which pick up steam next week with most of the nation's largest banks report their results, as well as big companies like Intel, Netflix, UnitedHealth and General Electric. Earnings are expected to be down roughly 5.5 percent from a year ago, according to FactSet, mostly because of a sharp drop in commodity prices.

"Earnings are going to dominate the next few weeks. Once we get guidance from Corporate America, investors will be reasonably more confident about getting back into the market," said Bob Doll, chief equity strategist at Nuveen Asset Management.

The price of U.S. oil edged higher Friday. Benchmark crude oil rose 20 cents to close at $49.63 a barrel in New York. Brent Crude, which is used to price international oils, slipped 40 cents to $52.65 a barrel in London.

In other futures trading on the New York Mercantile Exchange, wholesale gasoline rose 0.9 cents to close at $1.417 a gallon. Heating oil fell 1.1 cents to close at $1.591 a gallon and natural gas rose 0.4 cents to close at $2.502 per 1,000 cubic feet.

U.S. government bond prices rose slightly. The yield on the 10-year Treasury note fell to 2.09 percent. The euro rose to $1.1363 while the dollar rose to 120.24 yen.

Metals prices rose. Gold climbed $11.60 to $1,155.90 an ounce, silver gained five cents to $15.82 an ounce and copper climbed seven cents to $2.41 a pound.

7536


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	47.37	points or ▲	0.28%	on	Monday, 12 October 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,131.86	▲	47.37	▲	0.28%		
	Nasdaq____	4,838.64	▲	8.17	▲	0.17%		
	S&P_500___	2,017.46	▲	2.57	▲	0.13%		
	30_Yr_Bond____	2.92	▲	0.01	▲	0.20%		

NYSE Volume	 2,876,690,750 	 	 	 	 	  		 
Nasdaq Volume	 1,329,675,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,371.18	▲	44.98	▲	0.70%		
	DAX_____	10,119.83	▲	23.23	▲	0.23%		
	CAC_40__	4,688.70	▲	12.69	▲	0.27%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,267.40	▲	41.80	▲	0.79%		
	Shanghai_Comp	3,287.66	▲	104.51	▲	3.28%		
	Taiwan_Weight	8,573.72	▲	127.76	▲	1.51%		
	Nikkei_225___	18,438.67	▲	297.50	▲	1.64%		
	Hang_Seng.__	22,730.93	▲	272.13	▲	1.21%		
	Strait_Times.__	3,032.11	▲	33.61	▲	1.12%		
	NZX_50_Index_	5,689.83	▲	51.04	▲	0.91%		

http://finance.yahoo.com/news/us-stocks-edge-higher-investors-205108716.html

*US stocks edge higher as investors wait for earnings

US stocks edge higher as investors wait for earnings reports; Oil slumps the most in six weeks*
Associated Press By Steve Rothwell, AP Business Writer

NEW YORK (AP) -- U.S. stocks edged higher Monday on a quiet day for the market ahead of a busy weak for corporate earnings.

EMC climbed after Dell said it would acquire the data storage company for $67 billion. Energy stocks slumped as the price of oil fell sharply following a report that showed OPEC members are keeping up production even after a big drop in prices over the last year.

Investors will be focusing on corporate earnings this week as they try to assess the impact that slowing global growth is having on company profits. Analysts are projecting that earnings contracted more than 5 percent in the third quarter as overseas demand weakened. JPMorgan Chase, Intel and Johnson & Johnson are among companies that will publish their earnings in coming days.

While the stock market was open Monday, bond trading was closed in observance of the Columbus Day holiday.

"The market is trading in a holiday mode," said Peter Cardillo, chief market economist at Rockwell Global Capital. "We could see some hefty gyrations as earnings season moves into full gear."

The Standard & Poor's 500 index rose 2.57 points, or 0.1 percent, to 2,017.46. The Dow Jones industrial average rose 47.37 points, or 0.3 percent, to 17,131.86. The Nasdaq composite climbed 8.17 points, or 0.2 percent, to 4,838.64.

Energy stocks dropped the most among the 10 industry sectors of the S&P 500 as the price of crude fell sharply.

Oil dropped as a report showed that OPEC members are keeping up production even after a big drop in prices. Benchmark U.S. crude fell $2.53 to close at $47.10 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, fell $2.79 to $49.86 a barrel in London.

The slide in crude prices since last year is having a big impact on corporate earnings.

Overall, earnings are forecast to slide by 5.3 percent, compared with the same period last year, but much of that decline is due to a big slump in energy company profits. Earnings in the energy sector are forecast to slide by 66 percent, according to S&P Capital IQ.

Still, some analysts are confident that the outlook for companies will improve next year, as demand revives overseas and improving consumer confidence boosts the U.S. economy.

"This earnings season will be a confirmation process. 'Yes, we have low inflation and yes, we are growing very moderately, but fairly dependably,' " said Scott Wren, senior global equity strategist at Wells Fargo Investment Institute. "It will be OK, it won't be great, but I think we can look forward to better earnings growth in 2016."

Gains were also muted as the stock market was coming off its biggest week of the year.

Most of the advance came after a disappointing jobs report which suggested the Federal Reserve could postpone a long-anticipated interest rate rise for several months. That thought was reinforced Thursday, when the minutes from the September Fed meeting showed policymakers were too concerned about low inflation and the slowdown in China to raise interest rates.

Low rates can help boost stocks by reducing returns on fixed-income investments such as bonds. They also make it easier for companies to borrow in the bond markets, giving them funds to buy back their own stock.

On Monday, Eli Lilly was among the day's biggest losers.

The stock dropped after the drugmaker said it was halting development of evacetrapib, a drug that was intended to treat patients with high-risk heart disease. The stock fell $6.70, or 7.1 percent, to $79.44.

Data storage company EMC was a winner.

The stock climbed 51 cents, or 1.8 percent, to $28.37 after Dell said it was acquiring the company in a deal valued at about $67 billion. Since going private in 2013, Dell has been investing in research and development and expanding its software and services business.

In metal trading, gold closed up $8.60 at $1,164.50 an ounce. Silver rose 4.6 cents to $15.86 an ounce and copper was little changed at $2.42 per pound.

The dollar declined to 120.02 yen. The euro rose to $1.1364.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 7.6 cents to close at $1.341 a gallon.

”” Heating oil fell 8.9 cents to close at $1.502 a gallon.

”” Natural gas rose 3.3 cents to close at $2.535 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-49.97	points or ▼	-0.29%	on	Tuesday, October 13, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,081.89	▼	-49.97	▼	-0.29%		
	Nasdaq____	4,796.61	▼	-42.03	▼	-0.87%		
	S&P_500___	2,003.69	▼	-13.77	▼	-0.68%		
	30_Yr_Bond____	2.90	▼	-0.02	▼	-0.82%		

NYSE Volume	 3,334,656,250 	 	 	 	 	  		 
Nasdaq Volume	 1,534,154,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,342.28	▼	-28.90	▼	-0.45%		
	DAX_____	10,032.82	▼	-87.01	▼	-0.86%		
	CAC_40__	4,643.38	▼	-45.32	▼	-0.97%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,234.60	▼	-32.80	▼	-0.62%		
	Shanghai_Comp	3,293.23	▲	5.57	▲	0.17%		
	Taiwan_Weight	8,567.92	▼	-5.80	▼	-0.07%		
	Nikkei_225___	18,234.74	▼	-203.93	▼	-1.11%		
	Hang_Seng.__	22,600.46	▼	-130.47	▼	-0.57%		
	Strait_Times.__	2,984.88	▼	-47.23	▼	-1.56%		
	NZX_50_Index_	5,702.82	▲	12.99	▲	0.23%		

http://finance.yahoo.com/news/us-stocks-drop-investors-assess-205111381.html

*US stocks drop as investors assess earnings, deals

US stocks drop as investors focus on earnings, deal news; Ryder slumps on weak guidance*
Associated Press By Steve Rothwell and Marley Jay, AP Markets Writer

NEW YORK (AP) -- U.S. stocks dropped on Tuesday for the first day in five as investors assessed company earnings and the latest corporate deal news. More evidence of weakness in China's economy also unsettled the market.

Ryder System led industrial stocks lower after the transportation and logistics company cut its profit forecast for the third quarter. Molson Coors surged on speculation that a tie-up between the world's two largest brewers would give it an opportunity to expand its own business.

The stock market started October with strong gains, rebounding from a big slump in the previous two months as investors worried about a slowing Chinese economy. This week investors are focusing on corporate earnings as they try and measure the impact that slowing global growth is having on profits.

Companies that are focused on the U.S. are likely to do well as consumer confidence improves, said Jerry Braakman, chief investment officer of First American Trust.

"It's been a rally here and the question is: 'Is this just a bounce?' " Braakman said. "The earnings season will help us a little with that. Looking at the consumer numbers here in the U.S., they are still very strong."

The Standard & Poor's 500 index fell 13.77 points, or 0.7 percent, to 2,003.69. The Dow Jones industrial average declined 49.97 points, or 0.3 percent, to 17,081.89. The Nasdaq composite dropped 42.03 points, or 0.9 percent, to 4,796.61.

Stocks started the day lower after a report showed that China's imports fell in September by an unexpectedly wide margin.

Imports dropped 20.4 percent after a 5.5 percent decline in August. It was the latest sign of weakness in the country's economy and indicates anemic demand in the world's second biggest economy.

"We don't think that this is a hard landing (for China's economy) in the making," said Stephen Freedman, Senior Investment Strategist, UBS Wealth Management Americas. "But we do acknowledge that there has been some spillover into the U.S."

Among individual stocks, Ryder System was the biggest decliner in the S&P 500. The transportation and logistics company cut its earnings forecast for the third quarter, blaming lower-than-forecast growth at a unit that provides services to companies that own and operate truck fleets. Its stock dropped $7.02, or 9.3 percent, to $68.63.

Chemicals company FMC Corp. fell $1.18, or 3.1 percent, to $36.35. The company lowered its earnings outlook late Monday and will lay off up to 850 workers, citing the rapid devaluation of the Brazilian real. The falling real is hurting its agricultural solutions business and FMC said it can't raise prices fast enough to compensate. The company makes almost a quarter of its sales in Brazil.

Overall, earnings for companies in the S&P 500 are forecast to contract by 5.4 percent for the third quarter, according to S&P Capital IQ. Much of the slump is attributable to a collapse in earnings at energy and material companies, where profits are shrinking as oil and commodity prices have plunged.

Molson Coors was the biggest gainer in the S&P 500.

The brewing company surged after AB InBev announced that it had reached an agreement to buy SABMiller. If the deal goes ahead, Molson Coors may get the opportunity to buy full ownership of its MillerCoors joint venture, which sells beers including Miller Lite, Coors Light and Blue Moon in the U.S. Molson Coors' stock jumped $7.83, or 9.9 percent, to $86.58.

Government bond prices rose, pushing the yield on the 10-year Treasury note down to 2.04 percent. The euro strengthened to $1.1384, while the dollar weakened to 119.76 yen.

Stocks fell in Europe. Britain's FTSE 100 declined 0.4 percent and Germany's DAX slid 0.9 percent. France's CAC 40 dropped 1 percent.

The price of oil slipped Tuesday. Benchmark U.S. crude fell 44 cents to close at $46.66 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, fell 62 cents to $49.24 a barrel in London.

In metals trading, gold edged up 90 cents to $1,165.40 an ounce. Silver climbed 4.3 cents to $15.91 an ounce and copper fell 2.8 cents to $2.39 per pound.

In other energy futures trading on the NYMEX:

”” Wholesale gasoline fell 2.7 cents to close at $1.314 a gallon.

”” Heating oil fell 3.2 cents to close at $1.471 a gallon.

”” Natural gas fell 3.7 cents to close at $2.498 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-157.14	points or ▼	-0.92%	on	Wednesday, October 14, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,924.75	▼	-157.14	▼	-0.92%		
	Nasdaq____	4,782.85	▼	-13.76	▼	-0.29%		
	S&P_500___	1,994.24	▼	-9.45	▼	-0.47%		
	30_Yr_Bond____	2.84	▼	-0.06	▼	-2.00%		

NYSE Volume	 3,627,707,500 	 	 	 	 	  		 
Nasdaq Volume	 1,890,226,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,269.61	▼	-72.67	▼	-1.15%		
	DAX_____	9,915.85	▼	-116.97	▼	-1.17%		
	CAC_40__	4,609.03	▼	-34.35	▼	-0.74%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,230.40	▼	-4.20	▼	-0.08%		
	Shanghai_Comp	3,262.44	▼	-30.79	▼	-0.93%		
	Taiwan_Weight	8,522.51	▼	-45.41	▼	-0.53%		
	Nikkei_225___	17,891.00	▼	-343.74	▼	-1.89%		
	Hang_Seng.__	22,439.91	▼	-160.55	▼	-0.71%		
	Strait_Times.__	2,983.92	▼	-0.96	▼	-0.03%		
	NZX_50_Index_	5,727.13	▲	24.31	▲	0.43%		

http://finance.yahoo.com/news/us-stocks-drop-wal-mart-152410485.html#

*US stocks drop; Wal-Mart slumps on weak guidance

US stocks drop, led by declines in retailers after Wal-Mart plunges on weak outlook*
Associated Press By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- Weak earnings guidance from Wal-Mart and a couple of tepid reports on the economy pushed stocks lower on Wednesday.

Wal-Mart logged its biggest one-day decline in almost three decades after the retailer stunned investors with an announcement that it expects its profit to fall as it works to fend off intensifying competition. JPMorgan led financial stocks lower after the lender's third-quarter earnings fell short of analysts' expectations.

A rally for stocks has stalled this week as worries about weakening global growth have resurfaced. A Federal Reserve report on Wednesday showed that factory output was sluggish in the late summer, in part because of the strong dollar. A separate report on retail sales indicated that Americans are still spending cautiously.

After a sharp summer sell-off in stocks that was followed by an early October rebound, investors are split as to what comes next for the market. Some are expecting a strong fourth quarter, while others think that there could be more selling to come.

"I'm pretty much in the bearish camp," said Ken Winans, president of Winans Investments, an investment advisory and research firm. "The fear has come back in."

The Standard & Poor's 500 index closed down 9.45 points, or 0.5 percent, to 1,994.24. The Dow Jones industrial average fell 157.14 points, or 0.9 percent, to 16,924.75. The Nasdaq composite fell 13.76 points, or 0.3 percent, to 4,782.85.

Wal-Mart was the biggest decliner in the S&P 500 and also dragged the Dow lower.

The retailer forecast that sales for its full fiscal year would be flat as the company was hurt by unfavorable currency exchange rates. Wal-Mart had previously forecast sales growth of 1 to 2 percent. For its next fiscal year, it said profit could fall by as much as 12 percent.

The stock slumped $6.70, or 10 percent, to $60.03, its worst one-day decline since January 1988.

Investors were also assessing earnings reports from three big banks.

Bank of America gained after reporting its results, but JPMorgan and Wells Fargo declined. JPMorgan said late Tuesday that its profit climbed 22 percent, but its earnings still fell short of analysts' estimates.

JPMorgan's stock fell $1.56, or 2.5 percent, to $59.99. Wells Fargo reported a slight gain in profits for the quarter, but its lending margins fell. Wells Fargo edged down 36 cents, or 0.7 percent, to $51.50. Bank of America rose 12 cents, or 0.8 percent, to $15.64.

The S&P 500 and the Dow are still lower for the year after a big slump in the previous two months on worries about the outlook for global economic growth. Some investors say the declines are overdone, and they're expecting a bounce back in the final quarter of the year.

Worries about the health of China's economy are overdone, said Michael Scanlon, managing director and portfolio manager at John Hancock Asset Management.

He's expecting a strong fourth quarter for stocks.

"The U.S. is in pretty good shape," said Scanlon. "You can overreact and take a view on every economic data point that we get, but that's probably not in your best interest."

While the recent worries about the outlook for growth have shaken the stock market, they have boosted demand for bonds. Treasury notes rallied on Wednesday, pushing the yield on the 10-year note down to 1.98 percent from 2.04 percent a day earlier.

TripAdvisor was one of the day's winners.

The travel website operator surged after it announced a tie-up with the online travel booking company Priceline. The deal will bring several Priceline brands, including Booking.com, to TripAdvisors' instant booking platform. TripAdvisor jumped $17.03, or 25.5 percent, $83.72, the biggest gain in the S&P 500.

In Europe, the FTSE 100 index of leading British shares was down 1 percent. Germany's DAX fell 1.2 percent and in France the CAC-40 was 0.7 percent lower.

In metals trading, gold rose $14.40 to $1,179.80 an ounce. Silver climbed 21 cents to $16.12 an ounce and copper rose 3 percent to $2.42 a pound.

In currency trading, the euro rose to $1.1488 while the dollar slipped to 118.71 yen.

The price of oil edged lower Wednesday. Benchmark U.S. crude fell two cents to close at $46.64 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, declined nine cents to $49.15 a barrel in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 0.6 cents to close at $1.308 a gallon.

”” Heating oil rose 1.3 cents to close at $1.483 a gallon.

”” Natural gas rose two cents to close at $2.518 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	217	points or ▲	1.28%	on	Thursday, October 15, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,141.75	▲	217.00	▲	1.28%		
	Nasdaq____	4,870.10	▲	87.25	▲	1.82%		
	S&P_500___	2,023.86	▲	29.62	▲	1.49%		
	30_Yr_Bond____	2.87	▲	0.03	▲	1.20%		

NYSE Volume	 3,666,313,500 	 	 	 	 	  		 
Nasdaq Volume	 1,862,663,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,338.67	▲	69.06	▲	1.10%		
	DAX_____	10,064.80	▲	148.95	▲	1.50%		
	CAC_40__	4,675.29	▲	66.26	▲	1.44%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,265.60	▲	35.20	▲	0.67%		
	Shanghai_Comp	3,338.07	▲	75.63	▲	2.32%		
	Taiwan_Weight	8,601.52	▲	79.01	▲	0.93%		
	Nikkei_225___	18,096.90	▲	205.90	▲	1.15%		
	Hang_Seng.__	22,888.17	▲	448.26	▲	2.00%		
	Strait_Times.__	3,015.14	▲	31.22	▲	1.05%		
	NZX_50_Index_	5,775.71	▲	48.58	▲	0.85%		

http://finance.yahoo.com/news/us-stocks-advance-citigroup-gains-151653416.html

*US stocks advance; Citigroup gains on strong earnings

Stocks notch biggest advance in almost two weeks; Banks lead gains after Citi beats estimates*
Associated Press By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- Financial stocks surged on Thursday, helping push the market to its biggest gain in almost two weeks.

Citigroup jumped after reporting that its earnings rose sharply in the third quarter as the bank continued to cut expenses and clean up its books in the wake of the financial crisis. KeyCorp also climbed after posting solid earnings.

The reports cheered investors, who have been looking for good news to boost stocks since a summer sell-off roiled the markets. However, the optimism may be short-lived. Third-quarter earnings are forecast to contract overall as falling energy prices and weak global demand start to eat into profits.

"Financials could be the bright spot of the whole earnings season, so let the market have its fun," said Karyn Cavanaugh, senior market strategist at Voya Investment Financial. "We'll take any bright spot we can get in this earnings season, because things really don't look good."

The Standard & Poor's 500 index rose 29.62 points, or 1.5 percent, to 2,023.86. That was the biggest one-day gain for the index since Oct. 5.

The Dow Jones industrial average climbed 217 points, or 1.3 percent, to 17,141.75. The Nasdaq composite rose 87.25 points, or 1.8 percent, to 4,870.10.

Earnings for companies in the S&P 500 are forecast to drop 5 percent in the third quarter, according to S&P Capital IQ. If earnings do end up lower, it would be the first time in six years they have contracted.

On Thursday, financial stocks climbed 2.3 percent, the most among the 10 sectors that make up the S&P 500. Citigroup climbed $2.25, or 4.4 percent, to $52.97, and KeyCorp rose 60 cents, or 4.7 percent, to $13.31.

Stocks have started October with a strong rally after closing out September with their worst quarterly performance in four years. Worries about the Chinese economy and the possibility of a Federal Reserve rate increase shook the market in August and September.

After a run of weak economic reports in the last month, many investors now think the Fed will keep interest rates unchanged for the rest of the year. Fed policymakers have kept the bank's benchmark lending rate close to zero for almost seven years, supporting a bull market in stocks.

The outlook for interest rates will likely hold the key for how stocks perform for the rest of the year, said Sean Lynch, co-head of global equity strategy at Wells Fargo Investment Institute.

"Last year, we had a pretty good rally into year end," Lynch said. "I wouldn't be surprised, should people get a clear indication of what's going to happen with the Fed, if we see that happen again."

Netflix was among the day's biggest losers.

The stock slumped $9.14, or 8.3 percent, to $101.09 after the company reported late Wednesday that it is hooking fewer U.S. viewers than it hoped.

First Data, an electronic payment company based in Atlanta, raised $2.6 billion in an initial public offering, making it the biggest listed IPO of the year so far, according to data provider Dealogic. The stock priced at $16, but closed down 25 cents, or 1.6 percent.

In metals trading, gold rose $7.70 to $1,187.50 an ounce. Gold has climbed 6 percent this month as doubts about the health of the global economy have resurfaced. Silver rose 4.7 cents to $16.16 an ounce. Copper rose 0.8 cents to $2.42 per pound.

In European stock trading, Germany's DAX rose 1.5 percent. Britain's FTSE 100 advanced 1.1 percent and the French CAC-40 was 1.4 percent higher.

Bonds edged lower, pushing the yield on the 10-year note up to 2.02 percent from 1.98 percent on Wednesday. The euro fell to $1.1382 while the dollar edged down to 118.89 yen.

The price of oil fell on Thursday. Benchmark U.S. crude lost 26 cents to close at $46.38 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, declined 44 cents to $48.71 a barrel in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 0.1 cents to close at $1.307 a gallon.

”” Heating oil rose 0.3 cents to close at $1.486 a gallon.

”” Natural gas fell 6.5 cents to close at $2.453 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	74.22	points or ▲	0.43%	on	Friday, October 16, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,215.97	▲	74.22	▲	0.43%		
	Nasdaq____	4,886.69	▲	16.59	▲	0.34%		
	S&P_500___	2,033.11	▲	9.25	▲	0.46%		
	30_Yr_Bond____	2.86	▼	-0.01	▼	-0.31%		

NYSE Volume	 3,562,024,250 	 	 	 	 	  		 
Nasdaq Volume	 1,798,547,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,378.04	▲	39.37	▲	0.62%		
	DAX_____	10,104.43	▲	39.63	▲	0.39%		
	CAC_40__	4,702.79	▲	27.50	▲	0.59%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,303.70	▲	38.10	▲	0.72%		
	Shanghai_Comp	3,391.35	▲	53.28	▲	1.60%		
	Taiwan_Weight	8,604.95	▲	3.43	▲	0.04%		
	Nikkei_225___	18,291.80	▲	194.90	▲	1.08%		
	Hang_Seng.__	23,067.37	▲	179.20	▲	0.78%		
	Strait_Times.__	3,030.61	▲	15.47	▲	0.51%		
	NZX_50_Index_	5,820.01	▲	44.30	▲	0.77%		

http://finance.yahoo.com/news/modest-rise-gives-stocks-third-201209746.html
*
Modest rise gives stocks a third straight week of gains

US stocks end modestly higher after a day of wavering, marking a third straight week of gains*
Associated Press By Alex Veiga, AP Business Writer

U.S. stocks closed modestly higher Friday, giving the market its third straight week of gains.

Consumer staples and health care stocks were among the biggest risers as investors assessed the latest company earnings and economic news.

After several weeks speculating about the implications of a slowdown in China and the timing of an interest rate increase by the Federal Reserve, traders are squarely tuned into company earnings as they hunt for insight into how the global economy is doing.

"That's what the market is focused on," said Quincy Krosby, a market strategist at Prudential Financial. "Are we seeing a pickup in demand overseas and in the United States, and if so, which sectors? That's what this is about."

General Electric rose 3 percent, the most in the Dow Jones industrial average, after the industrial conglomerate reported earnings that beat analysts' forecasts.

The Dow rose 74.22 points, or 0.4 percent, to 17,215.97. The Standard & Poor's 500 index gained 9.25 points, or 0.5 percent, to 2,033.11. The Nasdaq composite added 16.59 points, or 0.3 percent, to 4,886.69.

The tech-heavy Nasdaq is up 3.2 percent this year. The Dow and S&P 500 are still negative. The Dow is down 3.4 percent, while the S&P 500 is off 1.3 percent.

The three major stock indexes began the day slightly higher, then wavered after midday. The indexes slipped into the red at times before drifting back into positive territory.

Investors appeared to brush off some discouraging economic data, including a Federal Reserve report indicating that U.S. manufacturing production fell for the second straight month in September. A separate Labor Department report showed that employers advertised fewer job openings in August and kept hiring flat. The job market has weakened the past two months, reflecting slower global economic growth.

All told, nine of the 10 sectors in the S&P 500 rose. Health care and consumer staples stocks each gained about 1 percent. The industrials sector declined 0.2 percent.

General Electric reported a decline in third-quarter profit, but strong performances from its core units helped the company top Wall Street expectations. GE rose 95 cents, or 3.4 percent, to $28.98.

Mattel climbed 6 percent after analysts at Oppenheimer published a research note highlighting the toymaker's core brands as a bright spot. The report came a day after Mattel reported disappointing third-quarter results. Mattel gained $1.36 to $23.89.

Traders hammered Quanta Services after the contracting services company lowered its third-quarter profit and revenue outlook, citing project delays and a tough market. The stock plunged 28.5 percent, losing $7.47 to $18.74.

Third-quarter earnings are forecast to contract overall as falling energy prices and weak global demand start to eat into profits.

Among companies in the S&P 500 that have already reported third-quarter results, earnings declined 5.1 percent from a year ago, the first drop in earnings growth since the July-September period in 2009, according to S&P Capital IQ.

"When all is said and done we'll probably be looking at earnings that are flattish for the quarter," said David Lefkowitz, an executive director and equity strategist at UBS. "But excluding the energy sector, we're looking for 6 percent growth, which is consistent with what we saw earlier this year."

The earnings season hits a peak next week with scores of major companies scheduled to report results including Morgan Stanley, Boeing, General Motors, McDonald's and Microsoft.

In Europe, the FTSE 100 index of leading British shares was up 0.6 percent, while Germany's DAX rose 0.4 percent. France's CAC 40 gained 0.6 percent. In Asia, South Korea's Kospi inched down 0.1 percent, while Hong Kong's Hang Seng rose 0.8 percent. The Shanghai Composite in mainland China was up 1.6 percent. Japan's benchmark Nikkei 225 added 1.1 percent, aided by expectations that the country's central bank will come up with more stimulus measures this month or next.

In energy futures trading, Benchmark U.S. crude added 88 cents to close at $47.26 in New York. Brent crude, used to price international oils, rose 73 cents to close at $50.46 a barrel in London.

Wholesale gasoline rose 2.1 cents to close at $1.328 a gallon, while heating oil rose 1 cent to close at $1.497 a gallon. Natural gas fell 2.3 cents to close at $2.43 per 1,000 cubic feet.

U.S. government bond prices didn't budge. The yield on the 10-year Treasury note held at 2.02 percent. The euro was little changed at $1.1349 while the dollar edged up to 119.49 yen.

In metals trading, gold fell $4.40 to $1,183.10 an ounce, silver declined five cents to $16.11 an ounce and copper lost two cents to settle at $2.40 a pound.

8144


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	14.57	points or ▲	0.08%	on	Monday, October 19, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,230.54	▲	14.57	▲	0.08%		
	Nasdaq____	4,905.47	▲	18.78	▲	0.38%		
	S&P_500___	2,033.66	▲	0.55	▲	0.03%		
	30_Yr_Bond____	2.88	▲	0.02	▲	0.70%		

NYSE Volume	 3,273,303,500 	 	 	 	 	  		 
Nasdaq Volume	 1,605,710,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,352.33	▼	-25.71	▼	-0.40%		
	DAX_____	10,164.31	▲	59.88	▲	0.59%		
	CAC_40__	4,704.07	▲	1.28	▲	0.03%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,304.60	▲	0.90	▲	0.02%		
	Shanghai_Comp	3,386.70	▼	-4.65	▼	-0.14%		
	Taiwan_Weight	8,631.50	▲	26.55	▲	0.31%		
	Nikkei_225___	18,131.23	▼	-160.57	▼	-0.88%		
	Hang_Seng.__	23,075.61	▲	8.24	▲	0.04%		
	Strait_Times.__	3,024.50	▼	-6.11	▼	-0.20%		
	NZX_50_Index_	5,834.83	▲	14.82	▲	0.25%		

http://finance.yahoo.com/news/us-stocks-eke-tiny-gains-201058771.html

*US stocks eke out tiny gains after a sluggish day

Stocks end slightly higher after spending most of the day lower, dragged down by energy sector*
Associated Press By Alex Veiga, AP Business Writer

U.S. stocks mustered a slight gain in the final moments of trading on Monday, capping a day of listless action that had the market headed for a downbeat close.

A slide in oil prices hammered energy stocks, including Chevron and Exxon Mobil, which ended up as the biggest decliners in the Dow Jones industrial average. Other commodities also fell, hurt by a strengthening dollar.

Weight Watchers more than doubled on news that Oprah Winfrey is buying a 10 percent stake in the weight management company and will help promote the company's services.

Investors had their eye on company earnings from Morgan Stanley, Hasbro and others. Both companies tumbled after their results left investors less-than-impressed.

Still, Monday's sluggish trading suggests many investors were holding off on any big moves until they see a broader slice of companies report third-quarter earnings over the next few days, said David Schiegoleit, managing director of investments at the Private Client Reserve at U.S. Bank.

"A lot of participants are on the sidelines waiting to see those numbers come out and use them as a cue to move forward," Schiegoleit said. "The big push in earnings season starts today, particularly after the close, and as we head into the rest of the week."

All told, the Dow rose 14.57 points, or 0.1 percent, to 17,230.54. The Standard & Poor's 500 index added 0.55 points, or 0.03 percent, to 2,033.66. The Nasdaq composite rose 18.78 points, or 0.4 percent, to 4,905.47.

Major stock indexes have closed higher for three days in a row.

Five of the 10 sectors in the S&P 500 rose, led by consumer discretionary stocks, which gained 0.5 percent. The sector is up 9 percent this year.

Energy stocks fell the most, 1.9 percent. The sector is down about 15 percent this year, hurt by the slide in oil prices. Benchmark U.S. crude fell $1.37 on Monday to close at $45.89 a barrel in New York.

Shares in Exxon Mobil fell $1.49, or 1.8 percent, to $80.99, while Chevron slid $1.26, or 1.4 percent, to $90.03.

"Oil has had a tough time getting off the ground and most commodities are down," said JJ Kinahan, TD Ameritrade's chief strategist. "Normally you would say it is demand, but because pretty much every commodity is getting hit today. I relate that more to dollar strength."

The dollar edged up to 119.48 yen and the euro fell to $1.1326.

Investors are tuned into earnings as they hunt for insight into how the global economy is doing.

Roughly 57 percent of the companies in the S&P 500 index report earnings over the next two weeks. That works out to about 117 companies this week, including Verizon Communications, eBay, Caterpillar and Alphabet. Another 170 companies in the S&P 500 report earnings next week.

Morgan Stanley and Hasbro's latest results put many investors in a selling mood.

Hasbro fell the most among stocks in the S&P 500 after the toy maker reported that sales of girls' toys and games dropped 28 percent in the third quarter. The stock lost $5.60, or 7.2 percent, to $72.18. Morgan Stanley slumped 4.8 percent after reporting a sharp drop in quarterly earnings as the bank's bond trading business weakened. The stock fell $1.63 to $32.32.

Weight Watchers surged 105 percent on news that Oprah Winfrey is paying about $43.2 million for a 10 percent stake in Weight Watchers and is joining the weight management company's board. Winfrey also agreed to endorse the company's programs and services, and to help promote the company. Weight Watchers' shares climbed $7.13 to $13.92.

Stock markets overseas were mixed. Germany's DAX rose 0.6 percent, while France's CAC 40 rose 0.03 percent. Britain's FTSE 100 inched down 0.4 percent. In Asia, China's Shanghai Composite Index lost an early gain to end down 0.1 percent. Hong Kong's Hang Seng ended little changed. Japan's Nikkei 225 fell 0.9 percent.

Data released Monday showed that China's economic growth decelerated in the latest quarter but relatively robust spending by Chinese consumers helped to avert a deeper downturn. The world's second-largest economy grew by 6.9 percent in the three months ended in September, down from the previous quarter's 7 percent and the slowest since early 2009 in the aftermath of the global crisis. Growth of 6.8 percent had been forecast by analysts.

In other energy trading, Brent Crude, which is used to price international oils, slid $1.85 to $48.61 a barrel in London.

Wholesale gasoline fell 7.7 cents to close at $1.251 a gallon on the New York Mercantile Exchange, while heating oil fell 4.8 cents to close at $1.449 a gallon. Natural gas edged up 1.2 cents to close at $2.442 per 1,000 cubic feet.

In metals trading, gold fell $10.30 to $1,172.80 an ounce, silver dropped 27 cents to $15.84 an ounce and copper lost four cents to settle at $2.37 a pound.

U.S. government bond prices rose slightly. The yield on the 10-year Treasury note fell to 2.02 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-13.43	points or ▼	-0.08%	on	Tuesday, October 20, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,217.11	▼	-13.43	▼	-0.08%		
	Nasdaq____	4,880.97	▼	-24.50	▼	-0.50%		
	S&P_500___	2,030.77	▼	-2.89	▼	-0.14%		
	30_Yr_Bond____	2.92	▲	0.04	▲	1.35%		

NYSE Volume	 3,280,623,000 	 	 	 	 	  		 
Nasdaq Volume	 1,697,936,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,345.13	▼	-7.20	▼	-0.11%		
	DAX_____	10,147.68	▼	-16.63	▼	-0.16%		
	CAC_40__	4,673.81	▼	-30.26	▼	-0.64%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,271.60	▼	-33.00	▼	-0.62%		
	Shanghai_Comp	3,425.33	▲	38.63	▲	1.14%		
	Taiwan_Weight	8,653.60	▲	22.10	▲	0.26%		
	Nikkei_225___	18,207.15	▲	75.92	▲	0.42%		
	Hang_Seng.__	22,989.22	▼	-86.39	▼	-0.37%		
	Strait_Times.__	3,019.03	▼	-5.47	▼	-0.18%		
	NZX_50_Index_	5,895.49	▲	60.66	▲	1.04%		

http://finance.yahoo.com/news/stocks-edge-lower-ibms-woes-201140139.html

*Stocks edge lower; IBM's woes weigh on the Dow average

US stocks end slightly lower; weakness in IBM pulls Dow down; Harley-Davidson plunges*
Associated Press By Alex Veiga, AP Business Writer

U.S. stocks snapped a three-day winning streak Tuesday as weak company earnings and outlooks weighed on the market.

Major indexes wavered between small gains and losses for most of the day before settling slightly lower in the last 15 minutes of trading. The slide in crude oil prices deepened.

Investors are mostly focused on corporate America the next couple of weeks as the third-quarter earnings season unfolds. This week and next week are particularly heavy, with big companies including Coca-Cola, Procter & Gamble and Apple reporting earnings.

Traders are trying to glean whether the global economy is slowing and how U.S. companies are coping with factors like the stronger dollar, which can crimp profits for companies as their goods become pricier overseas.

Tuesday's tentative trading action suggests investors are not sure what to make of the earnings season so far, said Chris Gaffney, president at EverBank World Markets.

"Everybody's watching earnings and it's been mixed so far," Gaffney said. "We went into this earnings season with lowered expectations and even in spite of that we're seeing some misses."

The Dow Jones industrial average lost 13.43 points, or 0.1 percent, to 17,217.11. The Standard & Poor's 500 index fell 2.89 points, or 0.1 percent, to 2,030.77. The Nasdaq composite shed 24.50 points, or 0.5 percent, to 4,880.97.

The Dow is down 3.4 percent this year, while the S&P 500 is off 1.4 percent. The Nasdaq is up 3.1 percent for the year.

Weak hardware sales and the impact of the strong dollar hurt IBM's results in the third quarter. The company, which reported its latest results late Monday, was among the stocks to slump on Tuesday as investors sized up earnings. The stock weighed heavily on the 30-stock Dow, losing $8.58, or 5.7 percent, to $140.64.

Harley-Davidson sank 13.9 percent after the company reported a drop in third-quarter profit and cut its forecasts for motorcycle shipments. Harley shares slid $7.80 to $48.25.

About 57 percent of the companies in the S&P 500 index report earnings over the next two weeks. That works out to about 117 companies this week, including Boeing, General Motors and eBay on Wednesday.

"The major data points for investors are really still going to be with earnings, getting a sense of how confident businesses are, demand and pricing," said Eric Wiegand, senior portfolio manager at U.S. Bank Wealth Management.

Beyond earnings, traders welcomed some deal news Tuesday.

SanDisk climbed 4.4 percent on media reports indicating that the data storage company was in advanced talks to sell itself to rival Western Digital. SanDisk gained $3.19 to $75.19. Western Digital fell $5.62, or 7 percent, to $74.86.

Investors also bid up shares in Team Health Holdings on news that AmSurg is offering to buy the health care staffing and services company in a cash-and-stock deal worth about $7.8 billion. Team Health vaulted $10.09, or 19.2 percent, to $62.59.

Yum Brands, which owns KFC, Pizza Hut and Taco Bell, rose 1.8 percent after saying it plans to spin off its China business, which has stumbled recently. The stock added $1.32 to $73.03.

In Europe, Germany's DAX fell 0.2 percent, while the CAC-40 in France slid 0.6 percent. The FTSE 100 index of leading British shares dipped 0.1 percent. In Asia, the Shanghai Composite Index rose 1.1 percent, while Tokyo's Nikkei 225 gained 0.4 percent. Hong Kong's Hang Seng shed 0.4 percent.

Benchmark U.S. crude fell 34 cents to $45.55 a barrel in New York. U.S. crude has fallen six of the last seven trading days. Brent crude, used to price international oils, rose 10 cents to $48.71 a barrel in London.

In other trading, wholesale gasoline rose 2.7 cents to close at $1.278 a gallon on the New York Mercantile Exchange, while heating oil was little changed at $1.449 a gallon. Natural gas rose 3.4 cents to close at $2.476 per 1,000 cubic feet.

Precious and industrial metals futures ended little changed. Gold rose $4.70 to $1,177.50 an ounce, silver rose eight cents to $15.92 an ounce and copper slipped less than a penny to $2.37 a pound.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.07 percent from 2.02 percent the day before. The euro rose to $1.1347 and the dollar rose to 119.85 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-48.5	points or ▼	-0.28%	on	Wednesday, October 21, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,168.61	▼	-48.50	▼	-0.28%		
	Nasdaq____	4,840.12	▼	-40.85	▼	-0.84%		
	S&P_500___	2,018.94	▼	-11.83	▼	-0.58%		
	30_Yr_Bond____	2.87	▼	-0.05	▼	-1.78%		

NYSE Volume	 3,574,111,250 	 	 	 	 	  		 
Nasdaq Volume	 1,879,665,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,348.42	▲	3.29	▲	0.05%		
	DAX_____	10,238.10	▲	90.42	▲	0.89%		
	CAC_40__	4,695.10	▲	21.29	▲	0.46%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,286.50	▲	14.90	▲	0.28%		
	Shanghai_Comp	3,320.68	▼	-104.65	▼	-3.06%		
	Taiwan_Weight	8,609.23	▼	-44.37	▼	-0.51%		
	Nikkei_225___	18,554.28	▲	347.13	▲	1.91%		
	Hang_Seng.__	22,989.22	▼	-86.39	▼	-0.37%		
	Strait_Times.__	3,025.70	▲	6.67	▲	0.22%		
	NZX_50_Index_	5,918.26	▲	22.77	▲	0.39%		

http://finance.yahoo.com/news/early-rally-fades-leaving-stocks-201419387.html

*An early rally fades, leaving stocks modestly lower

Early gains fade for stocks, leaving the market lower; Yahoo slides on disappointing results*
Associated Press By Alex Veiga, AP Business Writer

U.S. stocks closed lower on Wednesday after a late-afternoon slide erased modest gains made earlier in the day.

The decline added to the market's losses from the day before and came as crude oil prices fell and investors focused primarily on the latest wave of companies reporting quarterly financial results.

Yahoo slumped 5 percent after reporting a sharp drop in a closely watched measure of revenue, while Chipotle Mexican Grill tumbled 5.7 percent after the restaurant chain's results fell short of Wall Street's expectations.

Not all the earnings news was bad. Investors bid up shares in General Motors, which climbed 5.8 percent, and Biogen, which rose 4 percent, among others.

Only about a quarter of the companies slated to report their results have done so.

"As we get a fuller picture of how (third-quarter) earnings are going to wind up shaking out, that will give people more of a comfort level in terms of the directional cues in the market," said Mike Ryan, chief investment strategist at UBS Wealth Management Americas.

A roaring start to Ferrari's market debut and news about a couple of corporate deals also failed to keep the market from slipping into the red.

The Dow Jones industrial average fell 48.50 points, or 0.3 percent, to 17,168.61. The Standard & Poor's 500 index lost 11.83 points, or 0.6 percent, to 2,018.94. The Nasdaq composite slid 40.85 points, or 0.8 percent, to 4,840.12.

The major stock indexes started trading higher early Wednesday, but lost momentum by midmorning. They drifted between small gains and losses until the last half-hour of trading, then veered lower.

Investors have been reviewing company earnings this week as they hunt for insight into how the global economy is doing.

All told, 104 companies in the S&P 500 index have reported third-quarter earnings so far. Some 69 percent of those have reported results that beat Wall Street's expectations. That's better than the historic average of 66 percent, according to S&P Capital IQ.

Traders cheered General Motors' latest quarterly results, including strong North American sales that helped GM overcome $1.5 billion in costs from its deadly ignition switch problem. The stock gained $1.94 to $35.42.

Biogen also rose, adding $10.53 to $276.34 after the biotechnology said it will cut 11 percent of its workforce and disclosed that its third-quarter profit and revenue topped expectations.

Some companies' results prompted traders to sell.

Chipotle Mexican Grill lost $39.96 to $665.67, while Yahoo shed $1.71 to $31.12.

Nine of the 10 sectors in the S&P 500 moved lower. Energy stocks fell the most, about 1 percent. The sector is down 15.5 percent this year. Industrial stocks bucked the trend notching a tiny gain.

In Europe, Germany's DAX was up 0.9 percent, while the CAC-40 in France rose 0.5 percent. The FTSE 100 index of leading British shares rose 0.1 percent. In China, the Shanghai Composite Index took a hit from selling of heavy industrials. The Shanghai benchmark fell 3.1 percent. Japan's Nikkei 225 gained 1.9 percent and South Korea's Kospi was up 0.2 percent. Hong Kong's market was closed for a public holiday.

Benchmark U.S. crude fell $1.09 to close at $45.20 a barrel in New York. Brent crude, used to price international oils, fell 86 cents to $47.85 a barrel in London.

In other trading, wholesale gasoline rose 0.3 cents to close at $1.281 a gallon on the New York Mercantile Exchange. Heating oil rose 0.1 cent to $1.45 a gallon, and natural gas fell 7.2 cents to close at $2.404 per 1,000 cubic feet.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.03 percent from 2.07 percent the day before.

In currency action, the euro fell to $1.1342, while the dollar rose to 119.94 yen.

Precious and industrial metals futures ended lower. Gold fell $10.40 to $1,167.10 an ounce, silver slid 20 cents to $15.71 an ounce and copper slipped less than a penny to $2.36 a pound.

Among the other stocks making big moves:

__ Ferrari, founded in 1929 by Italian sports driver Enzo Ferrari, surged 5.8 percent in its stock market debut. The shares, which priced at $52, added $3 to $55.

__ KLA-Tencor shares vaulted 18.8 percent on news the semiconductor company is being acquired by Lam Research for about $10.6 billion. KLA-Tencor climbed $10.12 to $63.98. Shares in Lam Research gained 76 cents, or 1.1 percent, to $70.79.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	320.55	points or ▲	1.87%	on	Thursday, October 22, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,489.16	▲	320.55	▲	1.87%		
	Nasdaq____	4,920.05	▲	79.93	▲	1.65%		
	S&P_500___	2,052.51	▲	33.57	▲	1.66%		
	30_Yr_Bond____	2.86	▼	-0.01	▼	-0.38%		

NYSE Volume	 4,362,398,500 	 	 	 	 	  		 
Nasdaq Volume	 2,124,915,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,376.28	▲	27.86	▲	0.44%		
	DAX_____	10,491.97	▲	253.87	▲	2.48%		
	CAC_40__	4,802.18	▲	107.08	▲	2.28%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,299.60	▲	13.10	▲	0.25%		
	Shanghai_Comp	3,368.74	▲	48.06	▲	1.45%		
	Taiwan_Weight	8,608.46	▼	-0.77	▼	-0.01%		
	Nikkei_225___	18,435.87	▼	-118.41	▼	-0.64%		
	Hang_Seng.__	22,845.37	▼	-143.85	▼	-0.63%		
	Strait_Times.__	3,038.11	▲	12.41	▲	0.41%		
	NZX_50_Index_	5,923.60	▲	5.34	▲	0.09%		

http://finance.yahoo.com/news/strong-company-earnings-send-stock-172850379.html

*Strong company earnings send stock indexes sharply higher

US stock indexes march higher after encouraging results from eBay, McDonald's and others*
Associated Press By Alex Veiga, AP Business Writer

The U.S. stock market rebounded Thursday from a two-day slump, notching its biggest gain in more than two weeks and pushing the Dow Jones industrial average up more than 300 points.

The gains brought the Standard & Poor's 500 index nearly back to breakeven for the year following steep declines in August and September. Industrials stocks were among the index's biggest gainers.

The rally followed a batch of encouraging earnings from McDonald's, eBay and other companies. Alphabet, Microsoft and Amazon also delivered better-than-expected results shortly after the close of regular trading.

News that the European Central Bank could consider expanding its stimulus program in December also helped rally the market. Such a move could help stimulate spending in the region, a plus for U.S. companies struggling with declining overseas revenue, said Bob Doll, chief equity strategist at Nuveen Asset Management.

"We've had some pretty good earnings in a season that so far has been mixed," Doll said. "Then you layer some chatter out from the ECB, and all the uncertainty and skepticism and negativism, and the mass amount of cash on the sidelines, and it doesn't take much to get a rally going."

The Dow climbed 320.55 points, or 1.9 percent, to 17,489.16. The S&P 500 index rose 33.57 points, or 1.7 percent, to 2,052.51. The last time the Dow and S&P 500 delivered bigger single-day gains was Oct. 5.

The Nasdaq added 79.93 points, or 1.7 percent, to 4,920.05.

A surge in European stocks set the stage for the three major U.S. stock indexes to go higher early on Thursday.

Mario Draghi, head of the European Central Bank, signaled that the bank could boost monetary stimulus at its meeting in December. That raised expectations that the ECB might extend its $1.2 trillion bond purchase program. Draghi also said that the ECB was also considering other measures, such as further cutting one of its key interest rates.

"The market was in a tight trading range leading up to today's move to the upside, waiting for a catalyst in essence to push the market in one direction or the other," said Quincy Krosby, a market strategist at Prudential Financial. "And you can see clearly that the Draghi comments were very positively received by the market."

Beyond that, investors pored over the latest slate of company earnings, which helped put them in a buying mood.

Traders bid up eBay, which reported earnings late Wednesday that came in well ahead of what analysts were expecting. The e-commerce company jumped $3.37, or 13.9 percent, to $27.58.

McDonald's climbed 8.1 percent after the world's largest burger chain handily beat Wall Street estimates and said its sales increased in the third quarter. McDonald's shares added $8.33 to $110.87.

Texas Instruments' earnings also beat projections. The company also gave an upbeat outlook for the current quarter. The stock vaulted $6.19, or 11.9 percent, to $58.09.

Some companies turned in disappointing results, which sent their share prices tumbling.

Homebuilder PulteGroup fell $1.29, or 6.6 percent, to $18.16. American Express slid 5.2 percent a day after the credit card issuer reported a 16 percent drop in profits and cut its full-year forecast. The stock lost $4.01 to $72.50.

U.S. companies have been struggling to drum up sales overseas amid a stronger dollar, which makes their products less competitive, and decreased demand due to a sluggish global economy.

All told, about 148 companies in the S&P 500 index have reported third-quarter earnings so far. Some 68 percent of those have reported results that beat Wall Street's expectations. That's better than the historic average of 66 percent, according to S&P Capital IQ.

Nine of the 10 sectors in the S&P 500 index rose, led by industrials, up 2.8 percent. The sector is down 2.7 percent this year. Health care stocks fell 0.5 percent. The sector, which was among the biggest risers in the index for much of the year, is down 0.9 percent.

Among the hardest-hit health care stocks Thursday were Tenet Healthcare and Universal Health Services. Tenet slumped $6.57, or 18.9 percent, to $28.23, while Universal Health slid $13.74, or 11 percent, to $111.73.

Germany's DAX rose 2.5 percent, while the CAC-40 in France rose 2.3 percent. The FTSE 100 index of leading British shares gained 0.4 percent.

In China, the Shanghai Composite Index finished up 1.4 percent following a 3 percent slide Wednesday. Elsewhere in Asia stock markets closed mostly lower. Japan's Nikkei 225 fell 0.6 percent and South Korea's Kospi dropped 1 percent. Hong Kong's Hang Seng fell 0.6 percent.

In energy futures trading, benchmark U.S. crude rose 18 cents to $45.38 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, added 23 cents to $48.08 a barrel in London.

Wholesale gasoline rose 2.6 cents to close at $1.307 a gallon on the New York Mercantile Exchange, while heating oil rose 1.5 cents to $1.465 a gallon. Natural gas fell 1.8 cents to close at $2.386 per 1,000 cubic feet.

Precious and industrial metals futures were mixed. Gold fell $1 to $1,166.10 an ounce, silver rose 13 cents to $15.84 an ounce and copper gained 2 cents to $2.38 a pound.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.02 percent from 2.03 percent the day before. The euro fell to $1.1109 while the dollar rose to 120.72 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	157.54	points or ▲	0.90%	on	Friday, October 23, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,646.70	▲	157.54	▲	0.90%		
	Nasdaq____	5,031.86	▲	111.81	▲	2.27%		
	S&P_500___	2,075.15	▲	22.64	▲	1.10%		
	30_Yr_Bond____	2.90	▲	0.04	▲	1.26%		

NYSE Volume	 4,073,883,500 	 	 	 	 	  		 
Nasdaq Volume	 2,161,919,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,444.08	▲	67.80	▲	1.06%		
	DAX_____	10,794.54	▲	302.57	▲	2.88%		
	CAC_40__	4,923.64	▲	121.46	▲	2.53%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,388.10	▲	88.50	▲	1.67%		
	Shanghai_Comp	3,412.43	▲	43.69	▲	1.30%		
	Taiwan_Weight	8,673.81	▲	65.35	▲	0.76%		
	Nikkei_225___	18,825.30	▲	389.43	▲	2.11%		
	Hang_Seng.__	23,151.94	▲	306.57	▲	1.34%		
	Strait_Times.__	3,068.46	▲	30.35	▲	1.00%		
	NZX_50_Index_	5,970.67	▲	47.07	▲	0.79%		

http://finance.yahoo.com/news/tech-stocks-lead-rally-p-155246033.html

*Tech stocks lead a rally; S&P 500 turns positive for year

Microsoft, Amazon and other big technology names lead stocks higher; S&P 500 positive for year*
Associated Press By Alex Veiga, AP Business Writer

U.S. stocks closed higher on Friday, delivering their second gain in two days and pushing the Standard & Poor's 500 index back into positive territory for the year.

Strong quarterly earnings from several big-name technology companies helped rally the market, which has been gradually regaining ground following a swoon in August and September. Microsoft vaulted to a 15-year high, while Amazon and Google's parent company Alphabet closed sharply higher.

Investors also welcomed an interest rate cut by China's central bank and the possibility of more economic stimulus for Europe.

"It's been a great couple of days for the market and it's actually impressive to see such a good follow-up after yesterday's unbelievable move," said JJ Kinahan, TD Ameritrade's chief strategist.

The Nasdaq composite, which is heavily weighted with technology stocks, rose 111.81 points, or 2.3 percent, to 5,031.86.

The Dow Jones industrial average rose 157.54 points, or 0.9 percent, to 17,646.70. The S&P 500 index climbed 22.64 points, or 1.1 percent, to 2,075.15.

The gains pushed the Nasdaq up 6.3 percent for the year. The S&P 500 index is now up 0.8 percent. The Dow is down 1 percent.

The stock indexes notched healthy gains early on Friday, as investors bid up shares in Microsoft, Amazon and Alphabet a day after the three tech giants reported surprisingly strong quarterly results.

Microsoft surged $4.84, or 10.1 percent, to $52.87. Amazon gained $35.12, or 6.2 percent, to $599.03, while Alphabet climbed $38.19, or 5.6 percent, to $719.33.

Shares in Capital One Financial jumped 8.2 percent. The credit card issuer and lender reported third-quarter earnings late Thursday that came in ahead of Wall Street's expectations. The stock added $6.18 to $81.12.

The market action in the U.S. followed a rally in European and Asian stock markets as traders welcomed new action by China's central bank and the possibility of more stimulus for Europe.

China's central bank on Friday announced cuts in its benchmark interest rates on loans and deposits. It was the sixth interest-rate cut in a year.

A day earlier, the head of the European Central Bank hinted that the bank might extend its $1.2 trillion bond purchase program or take other measures to stimulate the Eurozone's economy.

"Both of those were positive and begin to lift the cloud of uncertainty which drove the volatility in the third quarter," said Michael Baughen, global investment specialist at J.P. Morgan Private Bank.

Next week, the spotlight turns to the world's other big central banks, the Federal Reserve and the Bank of Japan, which are holding policy meetings at which officials will undoubtedly factor the ECB's intentions into their own outlooks.

Wall Street has been trying to discern when the Fed will begin to raise its benchmark interest rate from a record low near zero, where it's been since late 2008.

Six of the 10 sectors in the S&P 500 index moved higher, led by technology stocks. The sector rose 3 percent and is up 6.6 percent this year. Utilities stocks declined the most, sliding 1.8 percent and extending its loss for the year to 5.7 percent.

While only about a quarter of the companies in the S&P 500 index have reported results this earnings season, the market has seen some encouraging signs so far.

"There are just hints everywhere that things might not be in the dire situation we were all thinking it was a month ago," Kinahan said, citing strong sales growth for General Motors, which gets more than half its revenue from China, and Amazon.com.

Some companies failed to live up to expectations Friday.

Pandora Media tumbled 35.4 percent after the Internet radio giant reported a loss for the third quarter and gave a weak outlook. The stock lost $6.80 to $12.39. Skechers U.S.A. slumped 31.5 percent after the shoe company's revenue disappointed Wall Street. The stock slid $14.55 to $31.64.

Overseas, Germany's DAX gained 2.9 percent, while France's CAC 40 rose 2.5 percent Britain's FTSE 100 climbed 1.1 percent. Japan's Nikkei 225 jumped 2.1 percent, while South Korea's Kospi gained 0.9 percent. Hong Kong's Hang Seng added 1.3 percent.

Benchmark U.S. crude fell 78 cents to $44.60 a barrel on the New York Mercantile Exchange. Brent Crude fell 9 cents to $47.99 a barrel in London.

Wholesale gasoline fell 0.3 cents to close at $1.304 a gallon, heating oil fell 1.1 cents to close at $1.454 a gallon and natural gas fell 10 cents to close at $2.286 per 1,000 cubic feet.

Gold fell $3.30 to $1,162.80 an ounce, silver slipped a penny to $15.83 an ounce and copper declined 3 cents to $2.35 a pound.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.09 percent from 2.03 percent the day before.

The dollar rose to 121.41 yen. The euro fell to $1.1009.

8688


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-23.65	points or ▼	-0.13%	on	Monday, October 26, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,623.05	▼	-23.65	▼	-0.13%		
	Nasdaq____	5,034.70	▲	2.84	▲	0.06%		
	S&P_500___	2,071.18	▼	-3.97	▼	-0.19%		
	30_Yr_Bond____	2.87	▼	-0.03	▼	-1.00%		

NYSE Volume	 3,336,593,250 	 	 	 	 	  		 
Nasdaq Volume	 1,742,568,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,417.02	▼	-27.06	▼	-0.42%		
	DAX_____	10,801.34	▲	6.80	▲	0.06%		
	CAC_40__	4,897.13	▼	-26.51	▼	-0.54%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,386.30	▼	-1.80	▼	-0.03%		
	Shanghai_Comp	3,429.58	▲	17.15	▲	0.50%		
	Taiwan_Weight	8,745.36	▲	71.55	▲	0.82%		
	Nikkei_225___	18,947.12	▲	121.82	▲	0.65%		
	Hang_Seng.__	23,116.25	▼	-35.69	▼	-0.15%		
	Strait_Times.__	3,083.07	▲	14.61	▲	0.48%		
	NZX_50_Index_	5,970.67	▲	47.07	▲	0.79%		

http://finance.yahoo.com/news/us-stocks-slip-earnings-reports-201132950.html

*US stocks slip as earnings reports fail to impress

Stocks dip at the start of a big week of company earnings and a Federal Reserve meeting*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- Stocks edged lower Monday as investors began another big week of company earnings and looked ahead to a policy meeting of the Federal Reserve.

Companies from Apple to Xerox are reporting earnings this week. About one-third the way through the quarterly earnings season, the results so far have been "nothing spectacular," says investment strategist Kristina Hooper of Allianz Global Investors.

More troubling than the middling income reports, Hooper says, is the fact that many companies are failing to meet analysts' forecasts for revenue. "What we really should be focusing on is the revenue picture, and that's more negative."

The Federal Reserve will meet Tuesday and Wednesday, and while the central bank has said it wants to raise interest rates soon, few investors expect that to happen this year because the global economy remains weak. The Fed left interest rates untouched in September, which helped set off a rally that pulled stocks out of the red for 2015 last week.

The Standard & Poor's 500 index dipped 3.97 points, or 0.2 percent, to 2,071.18. The S&P 500 remains positive for the year. The Dow Jones industrial average, which is still negative for the year, fell 23.65 points, or 0.1 percent, to 17,623.05. The Nasdaq composite rose 2.84 points, less than 0.1 percent, to 5,034.70.

Not all the earnings news was bad. LendingTree soared $22.98, or 23.5 percent, to $120.98 after the online mortgage broker reported better-than-expected results for the third quarter. LendingTree also raised its revenue estimate for the year and gave an optimistic forecast for 2016. Medical laboratory operator Laboratory Corporation of America rose $5.79, or 5.2 percent, to $117.74 after its third-quarter results topped estimates.

Xerox fell 31 cents, or 3 percent, to $10.03 after the business services and copier company reported disappointing quarterly revenue said it will conduct a review of its operations in hopes of boosting value for its shareholders.

Companies continued to combine. Intercontinental Exchange, the owner of the New York Stock Exchange and other stock markets, said it will buy the privately held market data company Interactive Data for $5.2 billion. Duke Energy, the biggest electric company in the U.S., said it will buy Piedmont Natural Gas for about $4.9 billion. Piedmont surged $15.60, or 37 percent, to $57.82.

Russ Koesterich, global chief investment strategist for BlackRock, says he expects the current wave of company deals to continue as global economic growth remains gradual and borrowing costs remain low. The boost that the stock market gets from those deals, however, might not be as long-lasting, he said. Deals have given the market "a bit of a sugar high," Koesterich said, driving stocks higher despite disappointing company results.

In economic news, the government reported an unexpected drop in new home sales. Sales fell to their slowest pace in 10 months in September, hit by higher home prices and softer economic growth. That helped send homebuilder shares lower. KB Home fell 14 cents, or 1 percent, to $13.83.

U.S. crude oil lost 62 cents, or 1.4 percent, to close at $43.98 a barrel in New York. Brent Crude, which is used to price international oils, fell 45 cents, or 0.9 percent, to $47.54 a barrel in London.

Wholesale gasoline fell 1.6 cents to close at $1.288 a gallon, heating oil fell 2.9 cents to close at $1.426 a gallon and natural gas sank 22 cents to close at $2.062 per 1,000 cubic feet.

The price of gold rose $3.40 to $1,166.20 an ounce. Silver rose eight cents to $15.91 an ounce and copper edged up a penny to $2.36 a pound.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.06 percent from 2.09 percent late Friday. The dollar declined to 121.02 yen. The euro edged up to $1.1050.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-41.62	points or ▼	-0.24%	on	Tuesday, October 27, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,581.43	▼	-41.62	▼	-0.24%		
	Nasdaq____	5,030.15	▼	-4.56	▼	-0.09%		
	S&P_500___	2,065.89	▼	-5.29	▼	-0.26%		
	30_Yr_Bond____	2.85	▼	-0.02	▼	-0.56%		

NYSE Volume	 4,143,230,000 	 	 	 	 	  		 
Nasdaq Volume	 1,900,202,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,365.27	▼	-51.75	▼	-0.81%		
	DAX_____	10,692.19	▼	-109.15	▼	-1.01%		
	CAC_40__	4,847.07	▼	-50.06	▼	-1.02%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,384.60	▼	-1.70	▼	-0.03%		
	Shanghai_Comp	3,434.34	▲	4.76	▲	0.14%		
	Taiwan_Weight	8,701.32	▼	-44.04	▼	-0.50%		
	Nikkei_225___	18,777.04	▼	-170.08	▼	-0.90%		
	Hang_Seng.__	23,142.73	▲	26.48	▲	0.11%		
	Strait_Times.__	3,052.53	▼	-30.54	▼	-0.99%		
	NZX_50_Index_	6,001.02	▲	30.35	▲	0.51%		

http://finance.yahoo.com/news/stocks-tick-lower-mixed-earnings-180944160.html

*Stocks tick lower on mixed earnings; price of oil skids

Stocks slip as companies report mixed 3Q results; drop in oil price hits energy sector*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- Stocks slipped Tuesday afternoon after several U.S. companies delivered disappointing results and forecasts. Energy companies fell more than the rest of the market as the price of crude oil hit two-month lows.

The market made only small moves as the Federal Reserve started a two-day meeting to discuss interest rates. That marked a pause after a rally this month that has wiped out much of a steep loss from August.

Investors are still concerned about the slow pace of the economic recovery in the U.S. and are wondering how the economy and the market will react when interest rates eventually start to rise. Few expect the Fed to raise interest rates this year. And while ultra-low rates tend to be favorable for stocks and bonds, many investors would like to see the uncertainty over interest rate policy resolved.

"We don't think there's going to be enough evidence between now and the end of the year to support a move by the Fed," said Patrick Maldari, a senior fixed income investment specialist at Aberdeen Asset Management. "They just have not had the ammunition. The economic data continues to be weak."

The Dow Jones industrial average fell 41.62 points, or 0.2 percent, to 17,581.43. The Standard & Poor's 500 index fell 5.29 points, or 0.3 percent, to 2,065.89. The Nasdaq composite fell 4.56 points, or 0.1 percent, to 5,030.15.

The price of U.S. oil fell almost 2 percent and reached its lowest level since the market turmoil of late August. Oil prices had recovered some of their losses from this summer as companies cut back on production.

Energy analyst Jim Ritterbusch said a recent increase in oil stockpiles, the result of decreased refining production, has sent oil prices back down. Ritterbusch says he thinks crude will slip back to its August lows of around $38 a barrel and stay there through the end of 2015.

Energy stocks declined along with the price of oil. Chesapeake Energy fell 41 cents, or 5.8 percent, to $6.72, while Marathon Oil was down 48 cents, or 2.7 percent, to $17.11 and Anadarko Petroleum lost $3.71, or 5.4 percent, to $65.29.

Health care was the only sector to rise after some of the world's largest drug companies announced strong results. Pfizer raised its profit forecast after its third-quarter results came in better than expected, while Bristol-Myers said sales of key new medicines like the cancer drugs Opdivo and Yervoy improved. Pfizer rose 83 cents, or 2.4 percent, to $34.99 and Bristol-Myers added $2.25, or 3.5 percent, to $66.80.

Among other stocks making big moves:

”” Ford reported improved sales of its new F-150 pickup truck, but its net income fell short of Wall Street estimates. Ford fell 79 cents, or 5 percent, to $14.89.

”” UPS slumped after the package delivery company surprised investors by saying its revenue dipped in the third quarter. The stock fell $3.08, or 2.9 percent, to $103.10.

”” Alibaba, the Chinese e-commerce giant, said it got a big boost from mobile sales in the third quarter. The results reassured investors about Alibaba's performance while prospects for the Chinese economy remain uncertain. Alibaba rose $3.09, or 4 percent, to $79.44. Yahoo, which owns a big stake in Alibaba, picked up 90 cents, or 2.7 percent, to $34.30.

Earnings continued to pour in after the close of regular trading. Apple's results were stronger than expected and the tech giant said it expects to surpass last year's record of 74.5 million iPhones sold in the December quarter. The stock rose $3.21, or 2.8 percent, to $117.76 in late electronic trading.

Twitter skidded $3.39, or 10.8 percent, to $27.95 aftermarket after Wall Street was disappointed with the messaging service's fourth-quarter outlook.

In other oil trading, Brent crude, which is used to price international oils used in many U.S. refineries, fell 73 cents to $46.81 a barrel in London. Wholesale gasoline fell by a fraction of a cent to close at $1.287 a gallon in New York, heating oil fell 2 cents to $1.424 a gallon and natural gas edged up 3 cents to $2.092 per 1,000 cubic feet.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.04 percent from 2.06 percent late Monday. The dollar fell to 120.33 yen and the euro edged down to $1.1040.

The price of gold dipped 40 cents to $1,165.80 an ounce. Silver fell four cents to $15.86 an ounce and copper picked up 0.5 cents to $2.36 per pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	198.09	points or ▲	1.13%	on	Wednesday, October 28, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,779.52	▲	198.09	▲	1.13%		
	Nasdaq____	5,095.69	▲	65.54	▲	1.30%		
	S&P_500___	2,090.35	▲	24.46	▲	1.18%		
	30_Yr_Bond____	2.86	▲	0.01	▲	0.42%		

NYSE Volume	 4,666,566,000 	 	 	 	 	  		 
Nasdaq Volume	 2,118,165,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,437.80	▲	72.53	▲	1.14%		
	DAX_____	10,831.96	▲	139.77	▲	1.31%		
	CAC_40__	4,890.58	▲	43.51	▲	0.90%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,374.40	▼	-10.20	▼	-0.19%		
	Shanghai_Comp	3,375.20	▼	-59.14	▼	-1.72%		
	Taiwan_Weight	8,665.99	▼	-35.33	▼	-0.41%		
	Nikkei_225___	18,903.02	▲	125.98	▲	0.67%		
	Hang_Seng.__	22,956.57	▼	-186.16	▼	-0.80%		
	Strait_Times.__	3,040.51	▼	-12.02	▼	-0.39%		
	NZX_50_Index_	5,998.99	▼	-2.03	▼	-0.03%		

http://finance.yahoo.com/news/wobble-stocks-end-higher-investors-205116250.html

*After a wobble, stocks end higher as investors watch the Fed

A late rally leaves stock market higher as traders anticipate a possible Fed move on rates*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- The stock market ended solidly higher Wednesday, recovering from an afternoon wobble, after the Federal Reserve indicated that it will consider raising its benchmark interest rate at its December meeting. Bond yields rose and the dollar climbed against other currencies as traders anticipated that higher rates were on the way.

Federal Reserve policymakers decided to leave interest rates unchanged after a two-day meeting, but they also said they would consider raising rates at the last meeting of 2015 if the economy keeps improving.

Bob Doll, chief investment strategist for Nuveen Investments, said October and November employment data will feature prominently in the Fed's deliberations.

"If they're OK, I think the Fed will finally, finally, finally go," Doll said.

The Dow Jones industrial average had been up 130 points just before the Fed released its policy statement at 2 p.m. Eastern time, then briefly retreated into the red after the statement came out. By late afternoon the Dow more than recovered, closing up 198.09 points, or 1.1 percent, at 17,779.52. The Standard & Poor's 500 index gained 24.46 points, or 1.2 percent, to 2,090.35. The Nasdaq composite picked up 65.55 points, or 1.3 percent, to 5,095.69.

The Fed cut its benchmark interest rate to almost zero in late 2008 to stimulate the economy during the Great Recession. Although Fed Chair Janet Yellen has said she wants to start raising rates this year, the Fed struck a cautious tone in its September meeting following some rough patches in the U.S. economy and warning signs from overseas.

Investors concluded that the Fed would probably leave rates alone until next year, but the latest release shows that an increase on Dec. 16 is very possible. In its latest statement, the Fed eliminated language expressing concern about the global economy.

The prospect of higher interest rates set off a rally in banks, which stand to make more money on lending. Bank stocks in the S&P 500 jumped 2.4 percent, twice as much as the broader index.

The dollar rose against the yen and the euro. If the Fed does begin to raise rates in December, it would come as central banks in Europe and Japan continue to pursue stimulus programs. The euro fell sharply against the dollar, to $1.0925 from $1.1040 late Tuesday. The dollar rose to 121.03 yen from 120.33 yen.

In bond trading, the yield on the 10-year Treasury note rose to 2.09 percent from 2.04 percent the day earlier. Yields on Treasury notes affect rates on mortgages and many other kinds of loans.

Oil prices soared after Pemex, the national oil company of Mexico, said it received permission to swap crude oil with the U.S. That could represent a step toward ending the U.S. ban on exporting crude. The price of oil had had been sliding since early October and reached its lowest level in two months Tuesday. The 6.3 percent gain Wednesday was the largest increase since Aug. 31.

U.S. crude climbed $2.74 to $45.94 a barrel in New York. Brent crude, which is used to price international oils, rose $2.24, or 4.8 percent, to $49.05 a barrel in London.

In other energy trading, wholesale gasoline rose 6.3 cents to close at $1.350 a gallon in New York, heating oil rose 6 cents to $1.484 a gallon and natural gas fell 5.9 3 cents to $2.033 per 1,000 cubic feet.

While the Fed news weighed heavily on the broader market, earnings reports continued to drive many individual stocks. Northrop Grumman surged $9.90, or 5.5 percent, to $190.50 after the defense contractor said it received a contract worth up to $80 billion to build new bombers for the Air Force. Northrop Grumman stock has been trading at all-time highs.

Apple gained $4.72, or 4.1 percent, to $119.27 after the tech giant reported another quarter of record earnings late Tuesday, boosted by surging sales in China. Apple also forecast healthy iPhone sales during the upcoming holidays.

AIG advanced $2.97, or 4.9 percent, to $63.89 after billionaire investor Carl Icahn said he's taken a "large" stake in the company. Icahn said the insurance conglomerate should split into three separate businesses. Icahn said his view has support from other major shareholders.

Metals prices increased. Gold rose $10.30, or 0.9 percent, to $1,176.10 an ounce and silver added 43 cents, or 2.7 percent, to $16.29 an ounce. Copper prices stayed steady at $2.36 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-23.72	points or ▼	-0.13%	on	Thursday, October 29, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,755.80	▼	-23.72	▼	-0.13%		
	Nasdaq____	5,074.27	▼	-21.42	▼	-0.42%		
	S&P_500___	2,089.41	▼	-0.94	▼	-0.04%		
	30_Yr_Bond____	2.96	▲	0.10	▲	3.56%		

NYSE Volume	 4,000,595,750 	 	 	 	 	  		 
Nasdaq Volume	 1,904,705,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,395.80	▼	-42.00	▼	-0.65%		
	DAX_____	10,800.84	▼	-31.12	▼	-0.29%		
	CAC_40__	4,885.82	▼	-4.76	▼	-0.10%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,310.20	▼	-64.20	▼	-1.19%		
	Shanghai_Comp	3,387.32	▲	12.12	▲	0.36%		
	Taiwan_Weight	8,571.08	▼	-94.91	▼	-1.10%		
	Nikkei_225___	18,935.71	▲	32.69	▲	0.17%		
	Hang_Seng.__	22,819.94	▼	-136.63	▼	-0.60%		
	Strait_Times.__	3,001.51	▼	-39.00	▼	-1.28%		
	NZX_50_Index_	6,002.97	▲	3.98	▲	0.07%		

http://finance.yahoo.com/news/earni...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Earnings fail to lift US stocks as economic growth slows

US stocks dip after economic growth slows; weak results hit Buffalo Wild Wings, GoPro*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- Stocks slipped Thursday after the U.S. said economic growth slowed more than expected in the summer.

A mixed batch of third-quarter earnings reports didn't inspire investors. Companies including restaurant chain Buffalo Wild Wings and camera maker GoPro plunged after releasing weak results.

The market was lower all day after the Commerce Department said the economy cooled off in the summer as businesses cut production and drew down their inventories. The department estimated that gross domestic product grew 1.5 percent, a bit less than analysts had forecast.

RBS senior economist Kevin Cummins said the report isn't a major warning sign. In his view, consumers are spending more money because gas prices have tumbled, and the labor market is doing well even though fewer people are in the workforce than in years past. While jobs reports for August and September showed reduced growth, Cummins expects to see better results in October.

"The domestic economy is in pretty healthy shape right now," Cummins said.

The Dow Jones industrial average was down 23.72 points, or 0.1 percent, to 17,755.80. The Standard & Poor's 500 index dipped 0.94 point to 2,089.41. The Nasdaq composite sank 21.42 points, or 0.4 percent, to 5,074.27.

Those little losses weren't enough to undo the gains stocks made in the last hour of trading on Wednesday, after the Federal Reserve voiced some confidence in the economy by saying it might raise interest rates in December.

U.S. government bond prices kept falling, pushing yields higher as investors anticipated that U.S. interest rates could rise. The yield on the 10-year Treasury note rose to 2.18 percent from 2.10 percent late Wednesday.

The higher bond yields pulled buyers away from income-producing investments. Utility stocks in the S&P 500 index slid 0.6 percent, far more than the rest of the market.

Several companies dropped after releasing their reports. Buffalo Wild Wings skidded $31.95, or 17.3 percent, to $152.45 after the restaurant chain's profit and sales fell short of expectations. Computer networking company F5 Networks dropped after reporting disappointing fourth-quarter revenue and first-quarter projections. The stock lost $11.26, or 9.3 percent, to $110.08.

While some companies have gotten major bumps after reporting good results, particularly in the tech sector, this earnings season hasn't been great so far. Most of the companies on the S&P 500 have now disclosed their third-quarter earnings, and S&P Capital IQ says 52 percent of those have reported lower-than-expected revenue. Per-share profits are also down compared to last year.

GoPro slumped $4.59, or 15.2 percent, to $25.62 after the wearable camera maker reported disappointing results for its most recent quarter. It was the lowest closing price for GoPro shares, which began trading in 2014 and have lost more than half their value since mid-August.

Deutsche Bank said it lost about $6.6 billion in the third quarter. The company says it will sell businesses that employ about 20,000 people and eliminate 15,000 other jobs in an effort to improve profitability. It also won't pay a dividend this year or next. The stock sank $2.42, or 8 percent, to $27.89.

There were some big gainers to be found, though. Hanesbrands rose after the maker of underwear, socks and t-shirts announced strong third-quarter results and raised its profit estimate for the year. The stock gained $4.05, or 14.7 percent, to $31.65.

The latest company to surge on talks of a possible sale was Allergan, which makes Botox. The Irish drugmaker jumped 6 percent after Allergan said it is in preliminary talks with Pfizer about a sale, which could become the largest deal in the history of the pharmaceutical industry. Allergan jumped $18.17 to $305.37, which put its market value at about $120 billion.

Pfizer makes the pain and fibromyalgia treatment Lyrica, erectile dysfunction drug Viagra, and Prevnar 13, a vaccine against pneumonia and ear and other infections. It's the second-largest drug company in the world and bought competitor Hospira for $15 billion last month.

Just last year Pfizer failed to complete a similarly sized deal: it tried to buy competitor AstraZeneca for $119 billion, but the Anglo-Dutch company rejected the offer.

U.S. crude added 12 cents to $46.06 a barrel in New York. Brent crude, which is used to price international oils, lost 25 cents to $48.80 a barrel in London. Wholesale gasoline was unchanged at $1.350 a gallon in New York, heating oil fell less than one cent to $1.475 a gallon and natural gas slid 4.1 cents to $2.257 per 1,000 cubic feet.

The price of gold fell $28.80, or 2.4 percent, to $1,147.30 an ounce and silver declined 74 cents, or 4.6 percent, to $15.55 an ounce. Copper fell four cents, or 1.8 percent, to $2.32 a pound.

The dollar slipped to 121.13 yen from 121.23 yen. The euro rose to $1.0975 from $1.0909.

____

This story has been updated to clarify that Deutsche Bank will sell divisions with 20,000 employees and cut 15,000 jobs.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-92.26	points or ▼	-0.52%	on	Friday, October 30, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,663.54	▼	-92.26	▼	-0.52%		
	Nasdaq____	5,053.75	▼	-20.53	▼	-0.40%		
	S&P_500___	2,079.36	▼	-10.05	▼	-0.48%		
	30_Yr_Bond____	2.93	▼	-0.03	▼	-1.08%		

NYSE Volume	 4,235,014,000 	 	 	 	 	  		 
Nasdaq Volume	 1,996,195,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,361.09	▼	-34.71	▼	-0.54%		
	DAX_____	10,850.14	▲	49.30	▲	0.46%		
	CAC_40__	4,897.66	▲	11.84	▲	0.24%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,288.60	▼	-21.60	▼	-0.41%		
	Shanghai_Comp	3,382.56	▼	-4.75	▼	-0.14%		
	Taiwan_Weight	8,554.31	▼	-16.77	▼	-0.20%		
	Nikkei_225___	19,083.10	▲	147.39	▲	0.78%		
	Hang_Seng.__	22,640.04	▼	-179.90	▼	-0.79%		
	Strait_Times.__	2,998.35	▼	-3.16	▼	-0.11%		
	NZX_50_Index_	5,986.37	▼	-16.60	▼	-0.28%		

http://finance.yahoo.com/news/us-stocks-slip-finish-month-200814204.html

*US stocks slip but finish month with biggest gain in 4 years

US stocks dip as they complete the strongest month since 2011, recovering their summer losses*
Associated Press By Marley Jay, AP Markets Writer

The stock market drifted lower Friday but finished October with its biggest monthly gain in four years.

U.S. government economic data released Friday and earlier this week suggests the economy is still sluggish, stuck in a pattern of gradual but uneven growth it has followed since the Great Recession. But the outlook for future growth improved and fears waned that a slowing Chinese economy would send the U.S. economy into a tailspin.

Strong corporate earnings in some sectors, like health care and telecommunications, also helped propel the market all the way back to positive for the year after a swoon in August and a rocky September.

Paul Christopher, global market strategist for Wells Fargo, said investors are now gaining confidence in the U.S. economy and are more hopeful that China won't suffer an abrupt downturn.

"We could see investors finally put that correction in August and those fears permanently behind them," he said.

The Standard & Poor's 500 index has risen for five consecutive weeks and it ended October up 8.3 percent, its best month since October 2011. The index's increase of 159 points was the biggest in its 77-year history. The next-best month was March 2000, the height of the dot-com bubble, when it rose 132 points.

Sam Stovall, U.S. equity strategist at S&P Capital IQ, said a very strong October usually means the market won't make big gains in November and December, muting the so-called Santa Claus rally. He does expect stocks to keep rising for the rest of this year, though, and make gains in 2016, lifted by overall economic growth and improving corporate earnings.

He said 2016 "has a chance of being a good year but not a great year" for equities. "Investors will continue to buy the dips until the prospect of either a U.S. or global recession spooks investors again."

On Friday, stocks were largely flat through much of the day, venturing into positive territory in the early afternoon before ending lower. The S&P 500 lost 10.05 points, or 0.5 percent, to 2,079.36. The Dow Jones industrial average dipped 92.26 points, or 0.5 percent, to 17,663.54. The Nasdaq composite index slid 20.53 points, or 0.4 percent, to 5,053.75.

The Commerce Department said Friday that consumer spending inched up just 0.1 percent in September, partly because consumers were spending less on gasoline as energy prices fell. The gain was the smallest in eight months. The department said Thursday that economic growth slowed sharply in the summer, although most economists think the economy has improved this month.

Wells Fargo's Christopher said the November and December U.S. unemployment reports will help set the course of the markets for the rest of this year, along with the Federal Reserve's interest rate policies.

The busiest week of third-quarter earnings wrapped up Friday with big moves for a slew of companies. The professional networking service LinkedIn surpassed analyst estimates and its stock gained $23.87, or 11 percent, to $240.87. Drugmaker AbbVie surged as sales of its anti-inflammatory Humira, the biggest-selling drug in the world, continued to rise. AbbVie rose $5.45, or 10.1 percent, to $59.55.

Chevron, the second-largest U.S. oil company, said its profit fell almost two-thirds. The company said it will eliminate around 10 percent of its jobs, or up to 7,000 positions, and will also slash capital and exploration spending as it deals with lower oil prices that are cutting deeply into profit.

Valeant Pharmaceuticals suffered more losses Friday as controversy around its drug prices and sales practices climbed. The stock sank $17.73, or 15.9 percent, to $93.77. On Thursday the two largest pharmacy benefits management companies in the U.S., CVS and Express Scripts, cut ties with a Valeant-linked specialty pharmacy called Philidor. Philidor has been criticized as a "phantom pharmacy" used to artificially boost Valeant's sales. On Friday Valeant said Philidor has informed it that it will shut down as soon as possible.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.14 percent.

Benchmark U.S. crude rose 53 cents, or 1.2 percent, to $46.59 a barrel in New York. Brent crude, which is used to price international oils, advanced 76 cents, or 1.6 percent, to $49.56 a barrel in London. Wholesale gasoline rose 5.5 cents, or 4.1 percent, to $1.405 a gallon. Heating oil picked up 2.5 cents, or 1.7 percent, to $1.499 a gallon. Natural gas rose 6.4 cents, or 2.8 percent, to $2.321 per 1,000 cubic feet.

Gold fell $5.90, or 0.5 percent, to $1,414.40 an ounce. Silver rose 1.7 cents, or 0.1 percent, to $15.57 an ounce. Copper slipped a fraction of a cent to $2.257 a pound.

The dollar lost value against the yen, falling to 120.67 yen from 121.11 on Thursday. The euro rose compared to the dollar, reaching $1.099 from $1.0974.

0176


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	165.22	points or ▲	0.94%	on	Monday, November 2, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,828.76	▲	165.22	▲	0.94%		
	Nasdaq____	5,127.15	▲	73.40	▲	1.45%		
	S&P_500___	2,104.05	▲	24.69	▲	1.19%		
	30_Yr_Bond____	2.96	▲	0.02	▲	0.82%		

NYSE Volume	 3,696,160,000 	 	 	 	 	  		 
Nasdaq Volume	 1,872,898,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,361.80	▲	0.71	▲	0.01%		
	DAX_____	10,950.67	▲	100.53	▲	0.93%		
	CAC_40__	4,916.21	▲	18.55	▲	0.38%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,221.30	▼	-67.30	▼	-1.27%		
	Shanghai_Comp	3,325.08	▼	-57.48	▼	-1.70%		
	Taiwan_Weight	8,614.77	▲	60.46	▲	0.71%		
	Nikkei_225___	18,683.24	▼	-399.86	▼	-2.10%		
	Hang_Seng.__	22,370.04	▼	-270.00	▼	-1.19%		
	Strait_Times.__	2,974.41	▼	-23.94	▼	-0.80%		
	NZX_50_Index_	5,983.84	▲	12.99	▲	0.23%		

http://finance.yahoo.com/news/dow-j...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Dow Jones industrial average turns positive for the year

Gains in energy, health care stocks send Dow Jones industrial average into the black for 2015*
Associated Press By Marley Jay and Ken Sweet, The Associated Press

NEW YORK (AP) -- Stocks posted solid gains Monday, adding to last month's big advances and pushing the Dow Jones industrial average into positive territory for 2015. Several companies moved on news, including Chipotle Mexican Grill and Visa.

Health care stocks were among the winners as drugmakers Pfizer and AbbVie climbed, while energy stocks rose sharply in a late-day rally.

The Dow Jones industrial average rose 165.22 points, or 0.9 percent, to 17,828.76. The gain made the Dow the last of the three major U.S. market indexes to return to positive territory for 2015.

The Standard & Poor's 500 index rose 24.69 points, or 1.2 percent, to 2,104.05 and the Nasdaq composite rose 73.40 points, or 1.5 percent, to 5,127.15.

Health-care stocks continued to rally. Drug giant Pfizer rose $1.24, or 3.7 percent, to $35.05, the second-biggest gain in the Dow. The shares slumped late last week on word Pfizer is in talks to buy competitor Allergan.

AbbVie, which surged 10 percent Friday on strong third-quarter results, climbed $3.83, or 6.4 percent, to $63.38 after analysts at Morgan Stanley upgraded the stock.

Health-care stocks gained 2 percent, nearly twice as much as the broader S&P 500 index. Energy stocks rose even more, 2.4 percent. Exxon Mobil, Chevron, Chesapeake Energy and others rose 3 percent or more.

Visa was among the biggest decliners. The payments processor gave up $2.36, or 3 percent, to close at $75.22 after saying it would buy its sister company Visa Europe in a deal that could be worth more than $23 billion. The company warned that 2016 earnings could be hurt as the company finances the debt and stock to pay for the deal.

A lot of focus for investors is on company earnings, which continue to roll out this week. Earnings season is nearly through, and the stock market has recovered significantly as companies have reported somewhat better results than initially expected.

With 340 companies out of the S&P 500 reporting, third-quarter earnings are down 2.2 percent compared to a year earlier. When earnings season began, analysts were looking for earnings to be down 5.2 percent.

"Companies continue to grind out modestly better earnings than we expected, and if you exclude energy, things actually don't look too bad," said Scott Wren, senior global equity strategist for Wells Fargo Investment Institute.

In other company news, Hewlett-Packard officially split into two companies over the weekend. HP Inc., which will sell personal computers and printers, rose $1.59, or 13 percent, to $13.83. Hewlett Packard Enterprise will sell commercial computer systems, software and tech services. Its stock edged down 23 cents, or 1.6 percent, to $14.49.

Chipotle Mexican Grill stumbled as an E. coli outbreak linked to restaurants in Oregon and Washington state spread. The restaurant chain has shut down all 43 of its locations in those states. More than 20 people have gotten sick and that number is expected to increase as word of the outbreak spreads. No deaths have been reported. Chipotle lost $16.23, or 2.5 percent, to $624.

In other markets, U.S. crude oil fell 45 cents, or 1 percent, to close at $46.14 a barrel on the New York Mercantile Exchange. Brent crude, which is used to price international oils, slid 77 cents, or 1.6 percent, to $48.79 a barrel in London.

In other energy trading, wholesale gasoline edged up 0.4 cent to $1.375 a gallon in New York, heating oil fell a penny to $1.507 a gallon and natural gas fell 6.5 cents to $2.256 per 1,000 cubic feet.

U.S government bond prices fell. The yield on the 10-year Treasury note rose to 2.18 percent from 2.15 percent Friday. The dollar edged up to 120.74 yen from 120.70 yen and the euro rose to $1.1022 from $1.1003.

Precious and industrial metals futures closed mixed. Gold fell $5.50 to $1,135.90 an ounce, silver fell 16 cents to close at $15.41 an ounce and copper edged up less than a penny to $2.32 a pound.

___

This story has been corrected to show that one of the companies created in the split of Hewlett-Packard is Hewlett Packard Enterprise, not Enterprises.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	89.39	points or ▲	0.50%	on	Tuesday, November 3, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,918.15	▲	89.39	▲	0.50%		
	Nasdaq____	5,145.13	▲	17.98	▲	0.35%		
	S&P_500___	2,109.79	▲	5.74	▲	0.27%		
	30_Yr_Bond____	3.00	▲	0.04	▲	1.49%		

NYSE Volume	 4,184,029,000 	 	 	 	 	  		 
Nasdaq Volume	 1,949,836,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,383.61	▲	21.81	▲	0.34%		
	DAX_____	10,951.15	▲	0.48	▲	0.00%		
	CAC_40__	4,936.18	▲	19.97	▲	0.41%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,291.20	▲	69.90	▲	1.34%		
	Shanghai_Comp	3,316.70	▼	-8.39	▼	-0.25%		
	Taiwan_Weight	8,713.19	▲	98.42	▲	1.14%		
	Nikkei_225___	18,683.24	▼	-399.86	▼	-2.10%		
	Hang_Seng.__	22,568.43	▲	198.39	▲	0.89%		
	Strait_Times.__	2,999.56	▲	25.15	▲	0.85%		
	NZX_50_Index_	6,021.97	▲	38.13	▲	0.64%		

http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*US stocks close higher, helped by energy, auto sales

US stocks close higher as energy sector gains along with oil*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- A rally in energy companies helped push the U.S. stock market higher for a second straight day on Tuesday. Investors also worked through corporate news and prepared for key U.S. economic data later this week.

The Dow Jones industrial average rose 89.39 points, or 0.5 percent, to 17,918.15. The Standard & Poor's 500 index rose 5.74 points, or 0.3 percent, to 2,109.79 and the Nasdaq composite rose 17.98 points, or 0.4 percent, to 5,145.13.

Oil and gas companies, one of the most battered parts of the market, saw another wave of investor interest. The energy sector of the S&P 500 rallied 2.5 percent. The advance was mostly on the back of a jump in the price of oil, which climbed 4 percent.

Drilling and exploration companies were the biggest benefactors. Pioneer Natural Resources, Diamond Offshore and Anadarko Petroleum all rose more than 5 percent. Oil conglomerates Exxon Mobil and Chevron rose 2 percent and 3 percent respectively.

Investors found some good news in the monthly sales reports from the automakers. General Motors, Ford and others reported double-digit increases in sales from a year earlier, and some automakers are on pace to break annual sales records.

"Even with the market volatility this summer, there aren't the signs that consumers are hunkering down," said David Kelly, chief global strategist at JP Morgan Funds. "This could be good news heading into the holidays."

GM rose 21 cents, or 0.6 percent, to $35.78 and Ford rose six cents, or 0.4 percent, to $14.81.

In other company news, shares of King Digital Entertainment, the publisher of the Candy Crush Saga video game, jumped $2.31, or 15 percent, to $17.85 after Activision Blizzard announced it would buy the company for $5.9 billion. Activision Blizzard rose $1.25, or 3.6 percent, to $35.82.

Investors will be turning to economic data out later this week. The October jobs report comes out on Friday. If the survey comes in strong, it would raise market expectations that the Fed will raise interest rates at their December meeting. Economists surveyed by FactSet expect U.S. employers added 185,000 jobs in October and that the unemployment rate remained steady at 5.1 percent

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.21 percent from 2.17 percent late Monday. In currencies, the euro fell to $1.0963 from $1.1013 and the dollar rose to 120.99 yen from 120.76 yen.

In the metals market, gold fell $21.80, or 2 percent, to $1,114.10 an ounce, silver fell 17 cents, or 1 percent, to $15.24 an ounce and copper rose a penny to $2.33 a pound.

Benchmark U.S. crude added $1.76, or 3.8 percent, to close at $47.90 a barrel on the New York Mercantile Exchange. Brent crude, which is used to price international oils, rose $1.75, or 3.6 percent, to $50.54 a barrel in London.

Wholesale gasoline jumped seven cents to $1.446 a gallon in New York, heating oil rose 5.9 cents to $1.566 a gallon and natural gas fell 0.3 cents to $2.253 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-50.57	points or ▼	-0.28%	on	Wednesday, November 4, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,867.58	▼	-50.57	▼	-0.28%		
	Nasdaq____	5,142.48	▼	-2.65	▼	-0.05%		
	S&P_500___	2,102.31	▼	-7.48	▼	-0.35%		
	30_Yr_Bond____	2.99	▼	-0.01	▼	-0.23%		

NYSE Volume	 4,018,502,750 	 	 	 	 	  		 
Nasdaq Volume	 2,073,526,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,412.88	▲	29.27	▲	0.46%		
	DAX_____	10,845.24	▼	-105.91	▼	-0.97%		
	CAC_40__	4,948.29	▲	12.11	▲	0.25%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,294.80	▲	3.60	▲	0.07%		
	Shanghai_Comp	3,459.64	▲	142.94	▲	4.31%		
	Taiwan_Weight	8,857.02	▲	143.83	▲	1.65%		
	Nikkei_225___	18,926.91	▲	243.67	▲	1.30%		
	Hang_Seng.__	23,053.57	▲	485.14	▲	2.15%		
	Strait_Times.__	3,040.48	▲	40.92	▲	1.36%		
	NZX_50_Index_	6,071.21	▲	49.24	▲	0.82%		

http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*US stocks slip, led by weakness in the energy sector

Stocks fall with the price of oil; media companies plunge after bleak outlook from Time Warner*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks retreated modestly Wednesday after comments from Federal Reserve Chair Janet Yellen implied that Fed policymakers are still considering raising interest rates in December.

Yellen's comments pushed the U.S. dollar higher. The dollar's rise had a secondary impact of causing oil to fall, which in turn impacted oil, gas and energy stocks. U.S. government bond prices also fell.

Media and entertainment stocks were pummeled after worrisome comments from media conglomerate Time Warner.

The Dow Jones industrial average lost 50.57 points, or 0.3 percent, to 17,867.58. The Standard & Poor's 500 index fell 7.48 points, or 0.4 percent, to 2,102.31 and the Nasdaq composite fell 2.65 points, or 0.1 percent, to 5,142.48.

During her regular semi-annual testimony to Congress, Yellen said that an interest rate hike in December would be a "live possibility" if the economy stays on track. Yellen did stress that no decision has been made yet and a move in December will depend on how the economy fares between now and then.

At its Dec. 15-16 meeting, the Fed will consider raising a key interest rate from a record low of near zero if the economy continues to grow at a strong enough pace to keep adding jobs and push annual inflation toward the Fed's 2 percent target, Yellen said.

Once considered an unlikely scenario, a December rate hike seems more likely by the day. Stocks have recovered nearly all of their losses from the summer, financial markets have calmed in China and elsewhere, and the U.S. economy continues to slowly improve.

Securities that allow investors to bet on which way the Fed will move interest rates are now pricing in a roughly 60 percent chance of the Fed raising rates next month, according to data from the Chicago Mercantile Exchange.

"Everyone is so focused on the world's central banks at the moment they don't seem to care about anything else," said Colleen Supran with the San Francisco-based wealth management firm Bingham, Osborn & Scarborough.

Investors will closely parse the October jobs report, which is due out Friday. Investors expect that U.S. employers added 185,000 jobs last month and that the unemployment rate remained steady at 5.1 percent.

One of the biggest victims of Yellen's comments, inadvertently, was oil and gas stocks. Yellen's comments cause the U.S. dollar to strengthen and oil prices to decline sharply.

Crude oil fell $1.58, or 3.3 percent, to $46.32 a barrel, reversing after two days of gains. Brent crude, which is used to price international oils, fell $1.96, or 4 percent, to $48.58 a barrel.

"Today's sell-off was easily definable by some hawkish comments out of (Yellen) suggestive of a rate hike next month," wrote Jim Ritterbusch, with the oil trading firm Ritterbusch & Associates, in a note.

Some of the biggest gainers on Monday and Tuesday were among the biggest decliners on Wednesday. Oilfield servicing company Baker Hughes fell $2.90, or 5.3 percent, to $51.56. Newfield Exploration lost $1.84, or 4.6 percent, to $38.30.

Media companies were another weak spot in the market. They fell sharply after Time Warner gave a worrisome earnings forecast for 2016. The company cited concerns about "cord-cutting," a phenomenon that's been increasing in recent years where long-time cable TV subscribers have cancelled or substantially curtailed their subscriptions, opting instead for cheaper services like HBO GO or Netflix.

Time Warner fell $5.10, or 6.6 percent, to $72.20, Viacom fell $3.37, or 6.6 percent, to $47.92 and Twenty-First Century Fox lost $1.63, or 5.2 percent, to $29.65.

Netflix gained $4.31, or 4 percent, to $114.05.

Bond prices fell, mostly as a result of Yellen's comments. The yield on the 10-year Treasury note rose to 2.22 percent from 2.21 percent the day before.

Precious and industrial metals futures closed lower. Gold fell $7.90 to $1,106.20 an ounce, silver lost 18 cents to $15.06 an ounce and copper edged down less than a penny to $2.32 a pound.

In the rest of the energy market, wholesale gasoline fell 5.4 cents to $1.392 a gallon in New York, heating oil fell 6.3 cents to $1.504 a gallon and natural gas rose 0.9 cents to $2.262 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-4.15	points or ▼	-0.02%	on	Thursday, November 5, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,863.43	▼	-4.15	▼	-0.02%		
	Nasdaq____	5,127.74	▼	-14.74	▼	-0.29%		
	S&P_500___	2,099.93	▼	-2.38	▼	-0.11%		
	30_Yr_Bond____	3.01	▲	0.02	▲	0.63%		

NYSE Volume	 3,993,757,250 	 	 	 	 	  		 
Nasdaq Volume	 2,026,758,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,364.90	▼	-47.98	▼	-0.75%		
	DAX_____	10,887.74	▲	42.50	▲	0.39%		
	CAC_40__	4,980.04	▲	31.75	▲	0.64%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,247.90	▼	-46.90	▼	-0.89%		
	Shanghai_Comp	3,522.82	▲	63.18	▲	1.83%		
	Taiwan_Weight	8,850.18	▼	-6.84	▼	-0.08%		
	Nikkei_225___	19,116.41	▲	189.50	▲	1.00%		
	Hang_Seng.__	23,051.04	▼	-2.53	▼	-0.01%		
	Strait_Times.__	3,023.65	▼	-16.83	▼	-0.55%		
	NZX_50_Index_	6,073.63	▲	2.42	▲	0.04%		

http://www.usnews.com/news/business/articles/2015/11/05/stocks-open-flat-on-mixed-earnings

*US stocks close slightly lower in quiet session ahead of Friday jobs report*
By KEN SWEET, AP Business Writer

NEW YORK (AP) ”” The U.S. stock market ended Thursday's trading slightly lower as investors were hesitant to make any large bets before the release of the government's closely watched jobs report, out Friday.

The Dow Jones industrial average lost 4.15 points, or less than 0.1 percent, to 17,863.43. The Standard & Poor's 500 index fell 2.38 points, or 0.1 percent, to 2,099.93 and the Nasdaq composite fell 14.74 points, or 0.3 percent, to 5,127.74.

Drug stocks were among the biggest decliners, following another steep drop in shares of Valeant Pharmaceuticals. Shares in the company, which traded above $250 a share only a few months ago, fell below $80 on reports that a major hedge fund had sold its investment in the company and a Congressional panel is probing the company's operations. Valeant closed down $13.20, or 14 percent, to $78.77.

While the government's monthly jobs report is always important to investors, there is additional focus on this month's report. With the fate of years of near-zero interest rates hanging in the balance, strong October and November jobs reports could give the Federal Reserve enough of a reason to consider raising interest rates in December.

"We think the Fed does raise interest rates in December, but it is going to be somewhat of a close call and it depends on how the data comes in between now and then," said David Lefkowitz, senior equity strategist for UBS wealth management.

Testifying before a committee of the U.S. Congress on Wednesday, Federal Reserve Chair Janet Yellen described the U.S. economy as "performing well" and said an interest rate hike in December was a "live possibility" if the economy stays on track. Her view was echoed by another Fed policymaker later in the day. Yellen did stress that no decision has been made yet and a move in December will depend on how the economy fares between now and then.

Economists expect that U.S. employers added 190,000 jobs last month and that the unemployment rate remained steady at 5.1 percent, according to FactSet.

Investors have become increasingly confident that there's a real chance of a December rate hike. Investments that track which way the Fed will move interest rates show the possibility of a rate hike at around 60 percent. Bond yields remained unchanged, with the benchmark 10-year U.S. Treasury note at 2.23 percent. Bond yields are at their highest level since right before the Fed's September meeting.

"This is all to say that perhaps the Fed is going to pull off what was once thought of as unachievable and (end near-zero interest rates) without blowing up the market," said Kevin McNeil, U.S. rates strategist at RBS, in a note to investors late Thursday.

In the energy markets, U.S. crude oil fell $1.12, or 2.4 percent, to $45.20 a barrel in electronic trading in New York. Brent crude, which is used to price international oils, fell 60 cents, or 1.2 percent, to $47.98 a barrel.

Wholesale gasoline futures fell two cents, or 1 percent, to $1.487 a gallon, heating oil fell three cents, or 2 percent, to $1.361 a gallon and natural gas futures rose 10 cents, or 4.5 percent, to $2.364 per 1,000 cubic feet.

The jump in natural gas prices helped push gas companies sharply higher. Southwestern Energy rose 62 cents, or 5.3 percent, to $12.28 and CONSOL Energy rose 33 cents, or 4 percent to $8.45.

In metals, gold fell $2.00, or 0.2 percent, $1,104.20 an ounce, silver fell eight cents, or 0.5 percent, to $14.98 an ounce and copper fell 7 cents, or 3 percent, to $2.255 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	46.9	points or ▲	0.26%	on	Friday, November 6, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,910.33	▲	46.90	▲	0.26%		
	Nasdaq____	5,147.12	▲	19.38	▲	0.38%		
	S&P_500___	2,099.20	▼	-0.73	▼	-0.03%		
	30_Yr_Bond____	3.09	▲	0.08	▲	2.52%		

NYSE Volume	 4,284,964,500 	 	 	 	 	  		 
Nasdaq Volume	 2,032,140,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,353.83	▼	-11.07	▼	-0.17%		
	DAX_____	10,988.03	▲	100.29	▲	0.92%		
	CAC_40__	4,984.15	▲	4.11	▲	0.08%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,269.70	▲	21.80	▲	0.42%		
	Shanghai_Comp	3,590.03	▲	67.21	▲	1.91%		
	Taiwan_Weight	8,693.57	▼	-156.61	▼	-1.77%		
	Nikkei_225___	19,265.60	▲	149.19	▲	0.78%		
	Hang_Seng.__	22,867.33	▼	-183.71	▼	-0.80%		
	Strait_Times.__	3,010.47	▼	-13.18	▼	-0.44%		
	NZX_50_Index_	6,069.74	▼	-3.89	▼	-0.06%		

http://finance.yahoo.com/news/stock...-october-jobs-numbers-151454001--finance.html

*Stocks end mixed as market factors interest rate hike

Stocks closed mixed after strong October jobs report, as higher interest rates now look likely*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks had a mixed reaction Friday to the surprisingly strong October jobs report as investors adjusted to the prospect of higher interest rates as early as next month.

While the major indexes, on the surface, had a muted reaction to the jobs numbers, look at the individual parts of the market showed investors were actively reshuffling their portfolios.

Dividend-paying stocks, which are typically bought for their higher-than-average payouts when interest rates and bond yields are low, dropped sharply on Friday. The Dow Jones utility index, a basket of 15 dividend-paying utility stocks, sank 4 percent.

In contrast, bank stocks rose sharply as investors bet that higher interest rates would translate into higher profits, since they may be able to charge more for lending. JPMorgan Chase rose $2.02, or 3 percent, to $68.46, Bank of America rose 64 cents, or 3.7 percent, to $17.95 and Morgan Stanley rose $1.53, or 4.5 percent, $35.41.

"You just need to look at those two groups and see that the market is positioning itself for higher interest rates," said Ryan Larson, head of equity trading at RBC Global Asset Management.

Wall Street has been in a months-long guessing game about the Federal Reserve, trying to figure out when the policymakers at the nation's central bank will finally raise interest rates. The market turmoil over the summer kept the Fed from raising rates at their September meeting, and policymakers decided to wait yet again at their October meeting to see more signs the U.S. economy was on sure footing.

By nearly every account, the October jobs report gave the Fed exactly what they wanted. The Labor Department said U.S. employers added 271,000 jobs, far more than the most hopeful of expectations, and the unemployment rate dipped to a fresh seven-year low of 5 percent, from 5.1 percent. The burst of hiring, the most in 10 months, filled jobs across a range of industries.

"This makes it pretty likely the Fed will raise rates in December," said Priscilla Hancock, a global fixed income strategist for J.P. Morgan Asset Management.

Fed fund futures, which are securities that bet on which way the Fed will move interest rates, now show roughly a 74 percent chance of the central bank raising rates in December, up from 60 percent on Wednesday and up from well below 50 percent as recently as late summer. But the size of the predicted interest rate increase remains modest. Investors expect interest rates will go from their current 0-to-0.25 percent levels to 0.5 percent.

"The Fed is still going to be extremely accommodative for investors. A rate hike in December is removing those emergency measures that the bank put into place during the financial crisis," Hancock said.

The Dow Jones industrial average rose 46.90 points, or 0.3 percent, to close at 17,910.33. The Standard & Poor's 500 index fell less than a point to 2,099.20 and the Nasdaq composite rose 19.38 points, or 0.4 percent, to close 5,147.12.

The bond market's reaction to the jobs number was far more volatile than the stock market's, with bond prices sinking as investors scaled back their holdings of Treasuries and safer investments.

The benchmark 10-year U.S. Treasury note rose to a yield of 2.32 percent from 2.23 percent on Thursday, a big move for that security. The two-year note jumped to a yield of 0.89 percent, a five-year high for that note, from 0.83 percent the day before.

The data also caused the dollar to rise sharply against its major currency counterparts. The euro fell to $1.0742, its lowest level in six months, and the dollar rose against the Japanese yen to 123.19.

The stronger dollar caused a selloff in commodities as well. Benchmark crude oil fell 91 cents, or 2 percent, to $44.29 a barrel and Brent crude, which is used to price international oils, fell 56 cents, or 1.2 percent, to $47.42 a barrel. Gold fell $16.50, or 1.5 percent, to $1,087.70 an ounce, silver fell 29 cents, or 2 percent, to $14.69 an ounce and high-grade copper fell a penny, or 0.6 percent, to $2.242 a pound.

In other energy products, heating oil rose less than a cent to $1.49 a gallon, wholesale gasoline futures rose a penny to $1.37 a gallon and natural gas rose 0.7 cent to $2.371 per 1,000 cubic feet.

0894


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-179.85	points or ▼	-1.00%	on	Monday, November 9, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,730.48	▼	-179.85	▼	-1.00%		
	Nasdaq____	5,095.30	▼	-51.82	▼	-1.01%		
	S&P_500___	2,078.58	▼	-20.62	▼	-0.98%		
	30_Yr_Bond____	3.11	▲	0.02	▲	0.55%		

NYSE Volume	 3,816,244,500 	 	 	 	 	  		 
Nasdaq Volume	 1,838,821,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,295.16	▼	-58.67	▼	-0.92%		
	DAX_____	10,815.45	▼	-172.58	▼	-1.57%		
	CAC_40__	4,911.17	▼	-72.98	▼	-1.46%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,180.30	▼	-89.40	▼	-1.70%		
	Shanghai_Comp	3,646.88	▲	56.85	▲	1.58%		
	Taiwan_Weight	8,642.48	▼	-51.09	▼	-0.59%		
	Nikkei_225___	19,642.74	▲	377.14	▲	1.96%		
	Hang_Seng.__	22,726.77	▼	-140.56	▼	-0.61%		
	Strait_Times.__	2,997.72	▼	-12.75	▼	-0.42%		
	NZX_50_Index_	6,047.89	▼	-21.85	▼	-0.36%		

http://finance.yahoo.com/news/us-stocks-lower-weak-china-145232973.html

*US stocks end lower as traders worry about global growth*
Associated Press By KEN SWEET

NEW YORK (AP) ”” The stock market stumbled Monday as investors worried that the global economy could be slowing just as last week's blockbuster U.S. jobs report appeared to open the way to the first rate hike from the Federal Reserve in nearly a decade. It was the first notable decline for the market in six weeks.

The Dow Jones industrial average lost 179.85 points, or 1 percent, to 17,730.48, slipping back into negative territory for the year. The Standard & Poor's 500 index lost 20.62 points, or 1 percent, to 2,078.58. The Nasdaq composite fell 51.82 points, or 1 percent, to 5,095.30.

Investors continue to deal with the fallout of October's unexpectedly strong jobs report, which greatly increased expectations that the U.S. Federal Reserve is likely to raise short-term interest rates, which have been close to zero since the 2008 financial crisis.

The Labor Department said U.S. employers created 271,000 jobs last month, more than the even most bullish of forecasts. The unemployment rate also dropped to 5 percent, the lowest in seven years. The surprising sign of strength could encourage the Fed to finally start to return interest rates to normal levels.

"This all shows how Friday's employment report possibly changed the game," John Briggs, head of fixed income strategy at RBS, wrote in a note to investors.

The possibility of higher interest rates continued to push investors to reposition their portfolios. Even in a declining stock market, investors also sold government bonds. The yield on the 10-year Treasury note rose to 2.34 percent. That's up from 2.33 percent Friday and significantly higher than the 2.23 percent level on Thursday. Yields on other Treasuries, including the two-year and three-year notes, also rose.

Securities that bet on which way the Fed will move interest rates show roughly a 70 percent chance the central bank will raise rates.

Global stocks were also reacting to news out of China, where customs data showed the country's imports plunged 18.8 percent in October from a year earlier, damping hopes for a Chinese economic rebound this quarter. Exports shrank 6.9 percent in a sign of weak global demand.

Germany's DAX index fell 1.6 percent, France's CAC-40 index lost 1.5 percent and the U.K.'s FTSE 100 lost 1 percent. In Asia, stocks actually rose in a bet that Asian governments would be more proactive in helping their ailing economies than their European counterparts.

"We've known about China's issues for a while now, but this will likely lead to the government doing more stimulus," said Quincy Krosby, market strategist with Prudential Financial.

Among individual companies, travel site Priceline fell $138.75, or 9.6 percent, to $1,311.15 after the company's outlook for the fourth quarter, a typically strong period for travel companies, came up short of analysts' expectations.

Drugmaker Mallinckrodt fell $11.88, or 17 percent, to $58.01 after the short-selling firm Citron Research warned that the company might have issues similar to Valeant Pharmaceuticals. Citron became well-known earlier this year when it published a report on Valeant, whose stock has fallen by two thirds since the summer.

Benchmark U.S. crude fell 42 cents, or 0.9 percent, to $43.87 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, declined 23 cents to $47.19 a barrel in London.

In other energy trading, heating oil fell a penny to $1.477 a gallon, wholesale gasoline was mostly unchanged at $1.371 a gallon and natural gas fell seven cents to $2.30 per 1,000 cubic feet.

Precious and industrial metals prices closed mixed. Gold edged up 40 cents to $1,088.10 an ounce, silver dropped 28 cents, or 1.9 percent, to $14.41 an ounce and copper rose a penny, or 0.5 percent, to $2.23 a poun


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	27.73	points or ▲	0.16%	on	Tuesday, November 10, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,758.21	▲	27.73	▲	0.16%		
	Nasdaq____	5,083.24	▼	-12.06	▼	-0.24%		
	S&P_500___	2,081.72	▲	3.14	▲	0.15%		
	30_Yr_Bond____	3.09	▼	-0.01	▼	-0.39%		

NYSE Volume	 3,698,057,000 	 	 	 	 	  		 
Nasdaq Volume	 1,872,920,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,275.28	▼	-19.88	▼	-0.32%		
	DAX_____	10,832.52	▲	17.07	▲	0.16%		
	CAC_40__	4,912.16	▲	0.99	▲	0.02%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,157.70	▼	-22.60	▼	-0.44%		
	Shanghai_Comp	3,640.49	▼	-6.40	▼	-0.18%		
	Taiwan_Weight	8,536.90	▼	-105.58	▼	-1.22%		
	Nikkei_225___	19,671.26	▲	28.52	▲	0.15%		
	Hang_Seng.__	22,401.70	▼	-325.07	▼	-1.43%		
	Strait_Times.__	2,997.72	▼	-12.75	▼	-0.42%		
	NZX_50_Index_	6,002.81	▼	-45.08	▼	-0.75%		

http://finance.yahoo.com/news/us-stocks-wobble-extending-slump-gap-plunges-151502887.html#

*A late gain leaves stocks mostly higher after a 4-day slump

US stocks extend slide into fifth day as Apple leads tech stocks lower on iPhone concerns*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) ”” Stocks reversed course and moved mostly higher Tuesday, breaking a four-day losing streak.

The gainers included retailers and media companies. Strong quarterly results from D.R. Horton boosted shares of homebuilders.

Health care stocks including drug companies also made gains, while Apple dragged down the technology sector. Analysts at Credit Suisse said a slowdown in the company's orders for components suggests demand for the new iPhone 6 is weak.

The Dow Jones industrial average rose 27.73 points, or 0.2 percent, to 17,758.21. The Standard & Poor's 500 index added 3.14 points, or 0.2 percent, to 2,081.72. The tech-heavy Nasdaq composite gave up 12.06 points, or 0.2 percent, to 5,083.24.

Stocks spent most of Tuesday in the red, then turned positive in the last hour and a half of trading. The S&P 500 had fallen 1.5 over the previous four trading days. Most of that loss came on Monday, when the index took its biggest dive in six weeks.

Botox maker Allergan was one of the biggest gainers in health care. The Irish company, which has held talks with competitor Pfizer about a potential sale, rose $9.88, or 3.3 percent, to $306.70. Drugmakers Perrigo, Endo and Mallinckrodt all traded higher.

Apple lost $3.80, or 3.2 percent, to $116.77. The world's most valuable company reported record earnings just two weeks ago, boosted by surging sales in China. Apple gets more than two-thirds of its revenue from iPhone sales, and some investors are worried that Apple won't be able to maintain its growth as worldwide smartphone sales slow down.

Apple's loss weighed down tech stocks. Tech stocks have had a strong year, rising more than 6 percent, the second-best industry gain in the S&P 500.

While tech and health care stocks have performed well this year, some companies could have a rougher road ahead. With the Federal Reserve poised to raise interest rates, the dollar could get stronger. That would be a source of pain for semiconductor makers and drug companies, said Jack Ablin of BMO Private Bank.

"The types of companies that could get hurt are the ones that rely on exports for their growth and profits," he said.

Chipotle Mexican Grill's restaurants in Washington state and Oregon could reopen in a few days after. A total of 43 locations were closed because of an E. coli outbreak, and tests for the bacteria at Chipotle restaurants came back negative. Shares of Chipotle rose $19.59, or 3.2 percent, to $628.88.

Homebuilder D.R. Horton rose $2.38, or 8.3 percent, to $31.35 after its fiscal fourth-quarter results surpassed analyst estimates. That lifted shares of its competitors: PulteGroup rose 63 cents, or 3.6 percent, $18.19 and Lennar added $1.60, or 3.4 percent, to $49.40,

Gap lost 40 cents, or 1.4 percent, to $27.29 after the retailer posted disappointing results for October, including lower overall sales. Earlier in the day its stock fell as much as 6 percent.

Industrial equipment and software maker Rockwell Automation fell $3.61, or 3.4 percent, to $104.18 after its earnings came up short of what analysts were looking for.

Bond prices didn't move much. The yield on the 10-year Treasury note dipped to 2.33 percent from 2.34 percent a day earlier.

Benchmark U.S. crude rose 34 cents, or 0.8 percent, to close at $44.21 a barrel in New York. Brent crude, a benchmark for international oils, picked up 25 cents, or 0.5 percent, to close at $47.44 a barrel in London. Heating oil rose 0.9 cents to $1.487 and wholesale gasoline slipped 0.9 cents to $1.362 a gallon. Natural gas rose two cents to $2.32 per 1,000 cubic feet.

The dollar rose to 123.19 yen from 123.11 yen on Monday. The euro slipped to $1.0721 from $1.0758.

Gold inched up 40 cents to $1,088.50 an ounce. Silver fell 5.7 cents to $14.36 an ounce. Copper fell 1.25 cents to $2.2175 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-55.99	points or ▼	-0.32%	on	Wednesday, November 11, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,702.22	▼	-55.99	▼	-0.32%		
	Nasdaq____	5,067.02	▼	-16.22	▼	-0.32%		
	S&P_500___	2,075.00	▼	-6.72	▼	-0.32%		
	30_Yr_Bond____	3.11	▲	0.02	▲	0.52%		

NYSE Volume	 3,608,619,000 	 	 	 	 	  		 
Nasdaq Volume	 1,651,380,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,297.20	▲	21.92	▲	0.35%		
	DAX_____	10,907.87	▲	75.35	▲	0.70%		
	CAC_40__	4,952.51	▲	40.35	▲	0.82%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,181.10	▲	23.40	▲	0.45%		
	Shanghai_Comp	3,650.25	▲	9.76	▲	0.27%		
	Taiwan_Weight	8,415.01	▼	-121.89	▼	-1.43%		
	Nikkei_225___	19,691.39	▲	20.13	▲	0.10%		
	Hang_Seng.__	22,352.17	▼	-49.53	▼	-0.22%		
	Strait_Times.__	2,981.59	▼	-16.13	▼	-0.54%		
	NZX_50_Index_	6,013.53	▲	10.72	▲	0.18%		

http://finance.yahoo.com/news/stock-indexes-stumble-early-trading-152503221.html#

*Weakness in retailers and energy companies pull stocks lower*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- Stock indexes ended lower Wednesday after a day of wavering between small gains and losses. A weak report from Macy's pushed retail stocks lower, and energy stocks retreated as the price of oil fell.

Macy's plunged 14 percent, its largest one-day drop in seven years. Other retailers slumped as investors took its results as a warning about third-quarter sales and the upcoming holiday shopping season.

October's big rally is fading into the distance, but most of the market's recent losses have been small. Stocks have lost ground for five of the last six trading days, leaving the market with a meager gain for the year to date.

The Dow Jones industrial average lost 55.99 points, or 0.3 percent, to 17,702.22. The Standard & Poor's 500 index fell 6.72 points, or 0.3 percent, to 2,075. The Nasdaq composite gave up 16.22 points, or 0.3 percent, to 5,067.02.

Macy's third-quarter sales were lower than analysts expected, prompting the owner of the Bloomingdale's chain to cut its profit forecast for the year. Macy's also said it will close more stores. Its shares sank $6.58, or 14 percent, to $40.44.

Citi Investment Research analyst Paul Lejuez said fewer people bought winter clothes like boots and coats in the third quarter because the weather was warm. That meant they were less likely to go shopping for clothes at all, so inventories built up and discounts increased. That's a troubling sign around three weeks before Black Friday.

That's bad for anybody that competes against Macy's," he said.

Investors dumped shares of other retailers following the trouble at Macy's.

Kohl's fell $2.44, or 5.4 percent, to $43.16 and Nordstrom dropped $2.41, or 3.7 percent, to $62.32. Urban Outfitters fell $2.12, or 7.4 percent, to $26.59. PVH Corp., the company behind the Calvin Klein and Tommy Hilfiger brands, lost $4.67, or 5 percent, to $88.26.

In energy trading, the price of oil dropped 3 percent after a report showed a big buildup in U.S. crude stockpiles. The American Petroleum Institute said supplies grew by 6.3 million barrels, far more than analysts expected, according to Price Futures Group analyst Phil Flynn.

U.S. crude slid $1.28 to $42.93 a barrel in New York and Brent crude, which is used to price international oils, lost $1.63 to $45.81 a barrel in London.

The two largest beer makers in the world said they have hammered out the terms of a deal. The $107 billion joining of AB InBev and SABMiller brings together brands including Budweiser, Corona, Grolsch and Stella Artois. The combined company will make about a third of the world's beer. Shares of AB InBev rose $2.18, or 2.8 percent, to $121.63.
View gallery
FILE - In this Wednesday, Oct. 8, 2014, file photo,&nbsp;&hellip;
FILE - In this Wednesday, Oct. 8, 2014, file photo, American flags fly in front of the New York Stoc …

As part of the agreement, SABMiller will sell its majority stake in a U.S. joint venture to Molson Coors for $12 billion. Molson Coors added $3.88, or 4.4 percent, to $92.19.

E-commerce giant Alibaba said it smashed records during the "Singles Day" holiday. Alibaba said it received 467 million orders, worth about $14.3 billion. That didn't translate into gains for its stock, which fell $1.58, or 1.9 percent, to $79.85.

Security company ADT added $1.44, or 4.4 percent, to $34 after its fiscal fourth quarter profit surpassed analysts' estimates.

Drugmaker Horizon Pharma sank 20 percent as it continued a dispute with pharmacy benefits manager Express Scripts. Horizon said it is questioning its relationship with Express Scripts, which is suing Horizon and took a pharmacy that dispenses Horizon's drugs out of its network. It's the latest tussle between drugmakers and companies that pay for their products. Horizon shares have lost about half their value since the end of July.

Shares of Horizon lost $4.39 to $17.99.

The price of gold declined $3.60 to $1,084.90 an ounce. Silver fell 9.3 cents to $14.26 an ounce. Copper was little changed at $2.218 a pound.

In other energy trading, heating oil fell 3.9 cents to $1.448 a gallon and wholesale gasoline shed 3.2 cents to $1.329 a gallon. Natural gas declined 5.7 cents to $2.263 per 1,000 cubic feet.

The dollar slipped to 122.84 yen from 123.25 yen. The euro rose to $1.0740 from $1.0707.

Bond trading was closed for Veteran's Day.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-254.15	points or ▼	-1.44%	on	Thursday, November 12, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,448.07	▼	-254.15	▼	-1.44%		
	Nasdaq____	5,005.08	▼	-61.94	▼	-1.22%		
	S&P_500___	2,045.97	▼	-29.03	▼	-1.40%		
	30_Yr_Bond____	3.09	▼	-0.02	▼	-0.58%		

NYSE Volume	 3,917,569,750 	 	 	 	 	  		 
Nasdaq Volume	 1,781,500,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,178.68	▼	-118.52	▼	-1.88%		
	DAX_____	10,782.63	▼	-125.24	▼	-1.15%		
	CAC_40__	4,856.65	▼	-95.86	▼	-1.94%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,182.20	▲	1.10	▲	0.02%		
	Shanghai_Comp	3,632.90	▼	-17.35	▼	-0.48%		
	Taiwan_Weight	8,428.09	▲	13.08	▲	0.16%		
	Nikkei_225___	19,697.77	▲	6.38	▲	0.03%		
	Hang_Seng.__	22,888.92	▲	536.75	▲	2.40%		
	Strait_Times.__	2,959.01	▼	-22.58	▼	-0.76%		
	NZX_50_Index_	6,023.96	▲	10.43	▲	0.17%		

http://finance.yahoo.com/news/november-stock-slide-continues-oil-211523705.html

*A November stock slide continues as oil, metals prices fall*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” A deepening slump in prices for oil, metals and other commodities sent stock prices lower on Thursday.

Major market indexes opened lower and the selling accelerated as the day wore on. The drop in oil and metals prices hurt mining, metals and energy stocks. Stocks began sliding early this month and have returned some of the gains from a powerful rally in October.

The Dow Jones industrial average sank 254.15 points, or 1.4 percent, to 17,448.07. The Standard & Poor's 500 lost 29.03 points, or 1.4 percent, to 2,045.97. The Nasdaq composite index fell 61.94 points, or 1.2 percent, to 5,005.08.

The S&P 500 has fallen for six out of the last seven days, and Thursday's decline was the largest over that span. While October was the best month for the market in four years, the S&P 500 is now down slightly this year. The Dow average is also lower in 2015.

Mike McGlone, head of U.S. research for ETF Securities, said investors are coming to grips with the fact that the Federal Reserve is about to start raising interest rates, ending an era of stimulus policies that have boosted stocks. At the same time, stocks could get hurt by warning signs about the U.S. economy, like weak jobs data or disappointing earnings.

"Now we have almost a lose-lose situation" for stocks, McGlone said.

Precious metals prices surged during the Great Recession, but in recent years many investors bought stocks instead, leading to a sustained slide in the prices of gold and silver.

Metals like copper and steel have been hurt by the sluggish global economy, and copper prices are down 23 percent this year. All three fell Thursday after the head of Europe's central bank said new stimulus measures may be put in place next month. That would boost the dollar at the expense of the euro. The central bank of Japan is also considering stimulus moves, which would make the dollar stronger compared to the yen.

Gold declined $3.90 to $1,081 an ounce and silver fell for the tenth consecutive day, losing 3.8 cents to $14.225 an ounce. It's down 11 percent since late October. Copper fell 4.6 cents, or 2.1 percent, to $2.173 a pound. Copper prices have tumbled 23 percent this year.

Mining and metals companies retreated. Freeport-McMoRan dropped 54 cents, or 5.8 percent, to $8.77. Its stock has skidded 69 percent over the past year. Steel maker Nucor fell $1.11, or 2.7 percent, to $40.11. Nucor has lost a quarter of its value in the past year.

When the dollar appreciates it tends to send prices for metals, oil and other commodities, which are priced in dollars, lower. That's because buyers using other currencies such as the yen and the euro often aren't willing to pay higher prices in their own currency just because the dollar has appreciated.

"Since November hit, the U.S. dollar has gone straight up and these commodities are getting smoked," Ryan Detrick, a markets strategist at Kimble Charting Solutions, said.

The price of oil slid for the sixth time in seven days and hit its lowest price since late August after the U.S. government said crude stockpiles grew by 4.2 million barrels last week. A private report released Wednesday had showed an even larger increase, but the markets showed no signs of relief.

U.S. benchmark crude fell $1.18, or 2.7 percent, to $41.75 a barrel in New York. Brent crude, which is used to price international oils, lost $1.75, or 3.8 percent, to $44.06 a barrel in London. Heating oil fell 4.1 cents to $1.407 a gallon. Wholesale gasoline shed 5.6 cents to $1.273 a gallon. Natural gas dipped 0.3 cents to $2.26 per 1,000 cubic feet.

Kohl's climbed $2.63, or 6.1 percent, to $45.79 after the retailer said strong sales in the back-to-school season and in late October boosted its results in the third quarter.

Kohl's and other retailers tumbled Wednesday after a disappointing report from Macy's. Kohl's more than made up its losses, while competitors made partial recoveries.

Angie's List, which lets users research, shop for and rate home services like plumbers and home cleaners, advanced $1.05, or 13.3 percent, to $8.97 after it received a buyout offer from IAC/InteractiveCorp, which owns About.com and HomeAdvisor.com. Its offer values Angie's List at $512 million, or $8.75 a share. The gains suggest investors are hoping for an improved offer.

Angie's List confirmed it received the offer and said it was unsolicited. Its shares have doubled in recent months, but are down sharply from their level of $28 in 2013.

Freshpet, which sells refrigerated fresh pet food, tumbled 25 percent after reporting its third-quarter results. The company said growth in fridges was lower than it expected and manufacturing problems hurt its profits. Freshpet plunged $2.09 and closed at $6.28.

Advance Auto Parts said the strong dollar and integration costs hurt its profit. The auto parts retailer lowered its annual outlook and said CEO Darren Jackson will retire in January. The stock lost $30.03, or 15.4 percent, to $164.64.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.31 percent. The euro inched up to $1.0821 from $1.0776. The yen slipped to $122.57 from 122.89.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-202.83	points or ▼	-1.16%	on	Friday, November 13, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,245.24	▼	-202.83	▼	-1.16%		
	Nasdaq____	4,927.88	▼	-77.20	▼	-1.54%		
	S&P_500___	2,023.04	▼	-22.93	▼	-1.12%		
	30_Yr_Bond____	3.06	▼	-0.03	▼	-1.10%		

NYSE Volume	 4,216,879,000 	 	 	 	 	  		 
Nasdaq Volume	 1,970,804,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,118.28	▼	-60.40	▼	-0.98%		
	DAX_____	10,708.40	▼	-74.23	▼	-0.69%		
	CAC_40__	4,807.95	▼	-48.70	▼	-1.00%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,111.80	▼	-70.40	▼	-1.36%		
	Shanghai_Comp	3,580.84	▼	-52.06	▼	-1.43%		
	Taiwan_Weight	8,329.50	▼	-98.59	▼	-1.17%		
	Nikkei_225___	19,596.91	▼	-100.86	▼	-0.51%		
	Hang_Seng.__	22,396.14	▼	-492.78	▼	-2.15%		
	Strait_Times.__	2,925.68	▼	-33.33	▼	-1.13%		
	NZX_50_Index_	5,989.03	▼	-34.93	▼	-0.58%		

http://finance.yahoo.com/news/stocks-set-end-winning-streak-retail-gets-slammed-153935558.html

*Retail gets slammed as stocks have second-worst week of year

A rout in retail stocks leaves the market with its second-worst week of the year*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- The stock market slumped to its second-biggest weekly loss of the year Friday, breaking a streak of six consecutive weeks of gains. Fears that the holiday shopping season will be a dud tanked retail stocks.

Retailers ranging from department stores to dollar stores plunged after Nordstrom posted disappointing third-quarter results, just as Macy's did earlier this week.

The price of oil continued to slide on evidence that global supplies are still rising. The dollar could get even stronger, further pressuring oil and other commodities and affecting mining and energy companies.

The Dow Jones industrial average fell 202.83 points, or 1.2 percent, to 17,245.24. The Standard & Poor's 500 gave up 22.93 points, or 1.1 percent, to 2,023.04. The Nasdaq composite index slipped 77.20 points, or 1.5 percent, to 4,927.88.

Concerns about retail sales and skidding commodities prices have eroded the gains from October's big stock market rally. Stocks have now lost ground seven of the last eight days. Overall the S&P 500 is down almost 2 percent for the year.

Nordstrom sank $9.51, or 15 percent, to $53.96 after reporting weaker sales. The company also cut its forecast for the year. Macy's had done the same on Wednesday.

The holiday shopping rush will kick into high gear with Black Friday in two weeks. Following several weak reports from retailers, investors are becoming worried that sales will be poor during that period, which is a crucial moneymaker for retail companies. Macy's and Nordstrom both hit two-year lows Friday. Consumer discretionary stocks were by far the worst performing group in the S&P 500.

J.C. Penney's results were about equal to analyst projections, but its stock lost $1.35, or 15.4 percent, to $7.44. Video game retailer GameStop sank $7.35, or 16.5 percent, to $37.18. Watchmaker Fossil Group plunged $18.62, or 36.5 percent, to $32.39. Fossil posted disappointing earnings Thursday afternoon and also said it will buy activity tracker maker Misfit for $260 million. Its shares hit their lowest level in five years.

Compounding those worries was a government report showing that U.S. retail spending edged up just 0.1 percent in October, a bit less than analysts expected. Prices charged by farmers, manufacturers and other producers fell in October. The figures show there is little sign of inflation in the U.S. economy. When inflation is higher, consumers have an incentive to spend more money.

Stifel Nicolaus analyst Richard Jaffe suggested the widespread selling was an overreaction. Shoppers will spend plenty of money this holiday season, he said, and while they're spending more money on smartphones and TVs and other big items than they used to, there will still be plenty of socks and sweaters given as gifts over the holidays.

"Christmas is boxed gifts," Jaffe said. "There will be a lot of gift giving, a lot of apparel sales."

Jaffe noted that Americans' shopping habits have changed a lot over the last few years. Consumers are spending more on homes, cars, and vacations. Aging baby boomers don't buy clothes as often as they used to, and younger shoppers are more interested in technology.

The price of oil continued to fall after the International Energy Agency said commercial inventories reached almost 3 billion barrels at the end of September, a record. The IEA also said growth in global demand will slow down next year. Oil prices have dropped because demand can't keep up with ever-increasing supplies. The strong dollar makes dollar-denominated commodities costlier to buyers using yen, euro and other currencies.

U.S. crude slumped $1.01, or 2.4 percent, to $40.74 a barrel in New York. It's dropped about 13 percent this month and is at its lowest price since late August. Brent crude, which is used to price international oils, lost 45 cents, or 1 percent, to $43.61 a barrel in London.

Jim Ritterbusch of the oil trading firm Ritterbusch & Associates said crude could fall another $3 to $4 a barrel. It's gone as low as $37.75 this year.

In other energy trading, heating oil fell 2.5 cents to $1.381 a gallon. Wholesale gasoline dipped 3.4 cents to $1.239 a gallon. Natural gas edged up 10.1 cents to $2.361 per 1,000 cubic feet.

The price of gold fell 10 cents to $1,080.90 an ounce. Silver fell for the tenth day in a row, losing 2.1 cents to $14.20 an ounce. Copper dipped slightly to just under $2.17 a pound. All three metals are at their lowest levels in six years.

Generic drugmaker Mylan climbed after a long pursuit of Irish drugmaker Perrigo came to an end. Perrigo's shareholders rejected a $26 billion offer from Mylan, an offer Perrigo had called inadequate. Mylan logged the biggest gain on the S&P 500, adding $5.58, or 12.9 percent, to $48.78. Perrigo fell $9.65, or 6.2 percent, to $146.90.

U.S. government bond prices rose. The yield on the 10-year Treasury note slipped to 2.27 percent from 2.31 percent. The euro declined to $1.0751 from $1.0791 and the dollar edged up to $122.67 yen from 122.62 yen.

1476


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	237.77	points or ▲	1.38%	on	Monday, November 16, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,483.01	▲	237.77	▲	1.38%		
	Nasdaq____	4,984.62	▲	56.73	▲	1.15%		
	S&P_500___	2,053.19	▲	30.15	▲	1.49%		
	30_Yr_Bond____	3.07	▲	0.01	▲	0.46%		

NYSE Volume	 3,664,802,000 	 	 	 	 	  		 
Nasdaq Volume	 1,773,354,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,146.38	▲	28.10	▲	0.46%		
	DAX_____	10,713.23	▲	4.83	▲	0.05%		
	CAC_40__	4,804.31	▼	-3.64	▼	-0.08%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,064.50	▼	-47.30	▼	-0.93%		
	Shanghai_Comp	3,606.96	▲	26.12	▲	0.73%		
	Taiwan_Weight	8,295.40	▼	-34.10	▼	-0.41%		
	Nikkei_225___	19,393.69	▼	-203.22	▼	-1.04%		
	Hang_Seng.__	22,010.82	▼	-385.32	▼	-1.72%		
	Strait_Times.__	2,918.21	▼	-7.47	▼	-0.26%		
	NZX_50_Index_	5,961.67	▼	-27.36	▼	-0.46%		

http://finance.yahoo.com/news/us-stocks-inch-higher-early-151535670.html

*Stocks move higher in afternoon trading*
Associated Press By Alex Veiga, AP Business Writer

U.S. stocks mounted a broad rally on Monday, snapping a three-day losing streak as investors moved past concerns that the terrorist attacks in Paris could spell big trouble for the global economy.

Oil and gas stocks were among the biggest gainers as the price of crude rose. Traders also bid up shares in defense contractors, while travel-related stocks slumped.

The gains followed a mixed day in European markets, which shook off an early loss and ended mixed.

Friday's attacks in Paris, which killed 129 people, are not likely to negatively affect the economies of the U.S. or Europe, said Scott Wren, senior global equity strategist for Wells Fargo Investment Institute.

"It all comes down to, are consumers going to be staying at home and not out spending money because they're afraid that if they go anywhere they're going to be victims of a terrorist attack," Wren said. "That might be the case if you saw a series of these things, but hopefully that's not what's going to happen and the economy is not going to be affected."

All told, the Dow Jones industrial average rose 237.77 points, or 1.4 percent, to 17,483.01. The Standard & Poor's 500 index gained 30.15 points, or 1.5 percent, to 2,053.19. The Nasdaq composite added 56.73 points, or 1.2 percent, to 4,984.62.

Monday's rally helped lift the market following its biggest weekly loss since August.

The market action got off to a somber start as the New York Stock Exchange paused to observe a moment of silence shortly before the start of regular trading.

The major market indexes started lower but rebounded within the first 10 minutes as investors piled into consumer staples stocks, a category that includes Coca-Cola and household products maker Procter & Gamble. Stocks wavered for a while, but began to climb steadily by midday as crude oil prices perked up, pushing up energy stocks.

The energy sector in the S&P 500 surged 3.3 percent, far more than the rest of the market.

Natural gas and coal producer Consol Energy added 56 cents, or 7.6 percent, to $7.96. Cabot Oil & Gas gained $1.82, or 8.8 percent, to $22.56, while Range Resources rose $2.90, or 9.1 percent, to $34.62.

The energy sector has been the biggest laggard among industries this year, down 14.9 percent, as the slide in oil prices has deepened.

Benchmark U.S. crude oil climbed $1, or 2.5 percent, to close at $41.74 a barrel in New York. Brent crude, used to price international oils, rose 9 cents, or 0.2 percent, to close at $44.56 a barrel in London.

News that Marriott International agreed to acquire rival hotel chain Starwood for $12.2 billion received a mixed response. Marriott ultimately added 98 cents, or 1.3 percent, to $73.72, while Starwood slid $2.72, or 3.6 percent, to $72.27.

The prospects of stepped-up military action to counteract terror threats helped give defense contractors a boost.

Northrop Grumman gained $7.79, or 4.4 percent, to $186.61, while Lockheed Martin added $7.51, or 3.5 percent, to $220.67. Raytheon rose $4.86, or 4.1 percent, to $121.11.

At the same time, traders moved to unload some travel-related stocks.

Priceline Group slid $30.88, or 2.4 percent, to $1,266.87, while Expedia declined $2.67, or 2.1 percent, to $122.53. Carnival fell 79 cents, or 1.5 percent, to $50.77. Delta Air Lines lost $1.06, or 2.2 percent, to $47.93.

The attacks may make it even more likely that the European Central Bank will expand its stimulus program at the conclusion of its December meeting, some analysts said. Some speculate that the Federal Reserve could also hold off on raising rates next month.

"At this juncture, it is easy to see that the Fed's intentions to 'normalize' monetary policy could be derailed by a combination of adverse domestic economic and external events," said Neil MacKinnon, global macro strategist at VTB Capital.

In Europe, Germany's DAX was flat, while France's CAC-40 slipped 0.1 percent. Britain's FTSE 100 rose 0.5 percent. In Asia, Japan's Nikkei 225 fell nearly 1 percent, while Australia's S&P/ASX 200 lost nearly 1 percent. Hong Kong's Hang Seng fell 1.7 percent.

In other energy futures trading, wholesale gasoline was little changed at $1.239 a gallon, heating oil rose 0.4 cent to $1.385 a gallon and natural gas rose 2.4 cents to $2.385 per 1,000 cubic feet.

Precious and industrial metals prices closed mixed. Gold rose $2.70 to $1,083.60 an ounce, silver fell two cents to $14.22 an ounce and copper gave up five cents to close at $2.12 a pound.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.27 percent from 2.28 percent late Friday. The dollar rose to 123.21 yen from 122.72 yen and the euro fell to $1.0687 from $1.0740.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	6.49	points or ▲	0.04%	on	Tuesday, November 17, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,489.50	▲	6.49	▲	0.04%		
	Nasdaq____	4,986.02	▲	1.40	▲	0.03%		
	S&P_500___	2,050.44	▼	-2.75	▼	-0.13%		
	30_Yr_Bond____	3.05	▼	-0.03	▼	-0.81%		

NYSE Volume	 4,264,481,000 	 	 	 	 	  		 
Nasdaq Volume	 1,758,176,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,268.76	▲	122.38	▲	1.99%		
	DAX_____	10,971.04	▲	257.81	▲	2.41%		
	CAC_40__	4,937.31	▲	133.00	▲	2.77%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,174.30	▲	109.80	▲	2.17%		
	Shanghai_Comp	3,604.80	▼	-2.16	▼	-0.06%		
	Taiwan_Weight	8,419.42	▲	124.02	▲	1.50%		
	Nikkei_225___	19,630.63	▲	236.94	▲	1.22%		
	Hang_Seng.__	22,264.25	▲	253.43	▲	1.15%		
	Strait_Times.__	2,916.78	▲	1.05	▲	0.04%		
	NZX_50_Index_	5,967.60	▲	5.93	▲	0.10%		

http://finance.yahoo.com/news/stocks-waver-early-trading-mixed-152133002.html#

*An early gain fades, leaving stock indexes little changed*
Associated Press By ALEX VEIGA

U.S. stocks ended little changed on Tuesday after a late-afternoon slump wiped out much of the market's gains from earlier in the day.

Investors weighed mixed results from Wal-Mart stores, Home Depot and other big U.S. retailers, as well as new data on inflation. Energy stocks were among the biggest decliners as oil prices closed lower.

"You saw oil prices come down, and the market has been following oil prices," said Quincy Krosby, market strategist at Prudential Financial. "The market moved up handsomely yesterday, so we're not losing all of the gains."

The Dow Jones industrial average added 6.49 points, or 0.04 percent, to 17,489.50. Earlier, the average had been up more than 116 points.

The Standard & Poor's 500 index lost 2.75 points, or 0.1 percent, to 2,050.44. The index had briefly moved into positive territory for the year. The Nasdaq composite gained 1.40 points, or 0.03 percent, to 4,986.01.

Major stock indexes wavered for much of the morning as investors sorted through the latest company earnings and a batch of economic reports. Traders pushed stocks higher by midday and for much of the afternoon until the final hour of trading, when the rally evaporated.

Investors, who have been worried that sales could be weak this holiday shopping season, sold retailers that reported disappointing quarterly results.

Urban Outfitters fell 3.8 percent after the retailer's latest quarterly sales fell short. The stock dropped 87 cents to $21.80. Dick's Sporting Goods slumped 9.4 percent after reporting worse-than-expected results and giving a weak outlook. The stock fell $3.85 to $36.96.

Other big retailers fared better.

Wal-Mart Stores rose 3.5 percent after the company reported improved customer traffic and an increase in a key sales figure for the third quarter, even as a stronger dollar pressured its performance overseas. The world's largest retailer also issued a forecast for the holiday shopping season that largely beat Wall Street expectations. The stock added $2.05 to $59.92.

Home Depot climbed 4.4 percent after the home-improvement retailer reported better-than-expected third-quarter earnings and revenue, and delivered an upbeat fiscal outlook. The stock rose $5.34 to $126.18.

Traders also had their eye on economic reports. The Labor Department reported that the consumer price index rose 0.2 percent in October after falling the prior two months.

The small uptick in inflation could increase the likelihood that the Federal Reserve will begin raising short-term interest rates from historic lows as early as next month, said David Chalupnik, head of equities at Nuveen Asset Management.

"Historically, hiking interest rates would not be good for the stock market, but at this point it's a psychological boost that the economy is self-sustaining enough that the Fed could get off the zero interest rate policy," Chalupnik said.

The energy sector shed 1.2 percent, extending its losses this year to 15.9 percent. The sector ”” the S&P 500 index's biggest decliner for the year ”” has been hurt by the protracted slide in oil prices.

That decline resumed on Tuesday. Benchmark U.S. crude oil dropped $1.07 to close at $40.67 a barrel in New York. Brent crude, used to price international oils, fell 99 cents to close at $43.57 a barrel in London.

Wholesale gasoline was little changed at $1.238 a gallon, heating oil lost 1.7 cents to $1.368 a gallon and natural gas fell 1.4 cents to $2.371 per 1,000 cubic feet.

European indexes moved higher, thanks partly to a report showing that business optimism in Germany rose more than analysts had expected this month amid strong domestic demand and a weaker euro. Germany's DAX rose 2.4 percent, while France's CAC 40 jumped 2.8 percent. Britain's FTSE 100 rose 2 percent.

Precious and industrial metals prices closed lower. Gold fell $15 to $1,068.60 an ounce, silver declined five cents to $14.17 an ounce and copper gave up one cent to close at $2.10 a pound.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.26 percent from 2.27 percent. The dollar rose to 123.41 yen from 123.26 yen, while the euro fell to $1.0644 from $1.0678.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	247.66	points or ▲	1.42%	on	Wednesday, November 18, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,737.16	▲	247.66	▲	1.42%		
	Nasdaq____	5,075.20	▲	89.19	▲	1.79%		
	S&P_500___	2,083.58	▲	33.14	▲	1.62%		
	30_Yr_Bond____	3.04	▼	-0.01	▼	-0.20%		

NYSE Volume	 3,864,925,500 	 	 	 	 	  		 
Nasdaq Volume	 1,971,926,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,278.97	▲	10.21	▲	0.16%		
	DAX_____	10,959.95	▼	-11.09	▼	-0.10%		
	CAC_40__	4,906.72	▼	-30.59	▼	-0.62%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,189.10	▲	14.80	▲	0.29%		
	Shanghai_Comp	3,568.47	▼	-36.33	▼	-1.01%		
	Taiwan_Weight	8,340.47	▼	-78.95	▼	-0.94%		
	Nikkei_225___	19,649.18	▲	18.55	▲	0.09%		
	Hang_Seng.__	22,188.26	▼	-75.99	▼	-0.34%		
	Strait_Times.__	2,886.08	▼	-30.70	▼	-1.05%		
	NZX_50_Index_	5,979.81	▲	12.21	▲	0.20%		

http://finance.yahoo.com/news/stock...ds-jumps-spinoff-news-151433602--finance.html
*
Deal news and bank gains send stock market solidly higher

More corporate deals and signs of firmer interest rates send the stock market to a solid gain*
Associated Press By Alex Veiga, AP Business Writer

U.S. stocks notched their best day in nearly four weeks on Wednesday as investors welcomed new hints pointing to a Federal Reserve interest rate hike in coming weeks. Trader were also encouraged by more corporate deal news.

The rally pushed the Standard & Poor's 500 index back into positive territory for the year.

ConAgra Foods jumped 4 percent on news the company is spinning off its frozen potatoes business. Railroad operator Norfolk Southern rose 6 percent after receiving an unsolicited takeover offer by Canadian Pacific.

Stocks in financial companies, which tend to benefit from rising interest rates, were among the biggest gainers after traders digested the minutes from the Fed's October policy meeting. The minutes show that officials believed that the economy could improve enough to justify a rate hike at the central bank's meeting next month.

"The market today is just reinforcing the view that most likely the Fed is going to move in December, and that's not necessarily a bad thing for either the economy" or the stock market, said Jeremy Zirin, chief equities strategist at UBS Wealth Management Americas.

The Dow Jones industrial average rose 247.66 points, or 1.4 percent, to 17,737.16. The Standard & Poor's 500 index gained 33.14 points, or 1.6 percent, to 2,083.58. That's the S&P 500's best gain since Oct. 22. The Nasdaq composite added 89.19 points, or 1.8 percent, to 5,075.20.

The Fed meeting minutes revealed that Fed officials believed the U.S. job market would improve further and that inflation would begin to move toward their 2 percent annual target by the time the group meets next month. They also took note of the U.S. economy's resilience through a summer of financial market turbulence and felt that global threats had "diminished."

The Fed has kept its benchmark for short-term rates near zero since late 2008. A string of rate hikes can eventually weigh on stock markets, but investors have mostly become prepared for the Fed to act next month and don't anticipate that an initial rate hike will derail the bull market.

Major stock indexes headed higher as trading got going early Wednesday and maintained the momentum throughout the day.

The government's latest tally of U.S. home construction didn't slow down the rally, despite delivering news that builders broke ground on fewer houses and apartments in October.

Investors began bidding up shares in ConAgra and Norfolk Southern early on. ConAgra added $1.57 to $40.93, while Norfolk Southern rose $5.52 to $92.49.

All 10 sectors in the S&P 500 rose, led by health care stocks, which rose 2 percent. The sector is up 5.1 percent this year. Financial stocks rose 1.8 percent. The sector is down 0.8 percent for the year. Among individual bank stocks, JPMorgan Chase gained $1.32, or 2 percent, to $67.45 and Bank of America climbed 42 cents, or 2.4 percent, to $17.84.

Not all stocks had a good day.

Target slumped 4.3 percent after the retailer reported that its sales at established locations increased in the third quarter at a slower rate than in the previous quarter. The stock shed $3.13 to $69.78.

Citrix Systems slid 10 percent on news that the computing company will slash about 1,000 jobs and spin off its GoTo business into a separate company as it seeks to cut costs. The stock fell $7.88 to $70.54.

Europe markets ended mixed. Germany's DAX dipped 0.1 percent, while France's CAC-40 lost 0.6 percent. The FTSE 100 edged up 0.2 percent.

Benchmark U.S. crude rose 8 cents to close at $40.75 a barrel on the New York Mercantile Exchange. It briefly dipped below $40 a barrel for the first time since August. Brent crude, used to price international oils, rose 57 cents to close at $44.14 a barrel in London.

Wholesale gasoline rose 2.8 cents to $1.266 a gallon, heating oil rose 1.2 cents to $1.38 a gallon and natural gas fell 2.4 cents to $2.347 per 1,000 cubic feet.

Precious and industrial metals prices were mixed. Gold rose 10 cents to $1,068.70 an ounce, silver declined nine cents to $14.08 an ounce and copper gave up three cents to close at $2.08 a pound.

U.S. government bond prices held steady. The yield on the 10-year Treasury note was little changed at 2.27 percent. The dollar edged up to 123.57 yen from Tuesday's 123.41 yen. The euro slipped to $1.0647 from $1.0649.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-4.41	points or ▼	-0.02%	on	Thursday, November 19, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,732.75	▼	-4.41	▼	-0.02%		
	Nasdaq____	5,073.64	▼	-1.56	▼	-0.03%		
	S&P_500___	2,081.24	▼	-2.34	▼	-0.11%		
	30_Yr_Bond____	3.00	▼	-0.04	▼	-1.25%		

NYSE Volume	 3,592,453,000 	 	 	 	 	  		 
Nasdaq Volume	 1,747,082,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,329.93	▲	50.96	▲	0.81%		
	DAX_____	11,085.44	▲	125.49	▲	1.14%		
	CAC_40__	4,915.10	▲	8.38	▲	0.17%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,293.30	▲	104.20	▲	2.01%		
	Shanghai_Comp	3,617.06	▲	48.59	▲	1.36%		
	Taiwan_Weight	8,477.20	▲	136.73	▲	1.64%		
	Nikkei_225___	19,859.81	▲	210.63	▲	1.07%		
	Hang_Seng.__	22,500.22	▲	311.96	▲	1.41%		
	Strait_Times.__	2,925.05	▲	38.97	▲	1.35%		
	NZX_50_Index_	5,995.25	▲	15.44	▲	0.26%		

http://finance.yahoo.com/news/stock...-unitedhealth-best-buy-tumble-151627473.html#

US stocks edge lower, dragged down by health care sector
Associated Press By ALEX VEIGA

U.S. stocks closed slightly lower Thursday after spending much of the day wavering between small gains and losses.

Several companies reported earnings and outlooks that offered a mixed picture of the economy for investors.

Health care stocks were among the biggest decliners, dragged down after UnitedHealth Group cut its full-year earnings forecast. The nation's largest health insurer also raised doubts about whether it will continue to participate in a key piece of the Affordable Care Act.

Traders felt a bit better about payments company Square and online dating site operator Match Group. Both soared on their first day of trading.

In the absence of major economic news, investors honed in on the uneven company earnings and outlooks.

"That's why we are largely without a lot of vigor in either direction today," said Eric Wiegand, senior portfolio manager at U.S. Bank Wealth Management.

All told, the Dow Jones industrial average fell 4.41 points, or 0.02 percent, to 17,732.75. The Standard & Poor's 500 index slipped 2.34 points, or 0.1 percent, to 2,081.24. The Nasdaq composite lost 1.56 points, or 0.03 percent, to 5,073.64.

Stocks got off to a plodding start early Thursday, spending much of the morning hovering close to the levels from a day earlier, when the S&P 500 index posted its biggest gain in four weeks.

The Labor Department's latest weekly tally of unemployment benefit applications provided some good, if expected, insight into the job market. Applications for unemployment aid dropped last week to a seasonally adjusted 271,000. The four-week average, a less volatile measure, increased 3,000 to 270,750.

Beyond that, investors focused on the latest string of company earnings.

Best Buy dropped 2.1 percent after releasing disappointing sales and a cautious outlook for the holiday shopping season. The stock slipped 66 cents to $30.67.

UnitedHealth Group fell 5.6 percent after it cut its 2015 earnings forecast and said it would pull back on the marketing of its exchange business a few weeks after open enrollment for that coverage began nationwide.

The insurer also said that it will decide in the first half of next year to what extent it can continue to serve the public health insurance exchange markets in 2017. The stock lost $6.62 to $110.63. Tenet Healthcare also slumped, sliding $2.65, or 8 percent, to $30.40.

Health care stocks fell the most among the 10 sectors in the S&P 500 index, sliding 1.6 percent. The sector remains up 3.4 percent for the year.

"UnitedHealth kind of sent shivers through the stock market a little bit," said Chris Gaffney, president at EverBank World Markets.

Other companies turned in more encouraging results.

Single-serve coffee brewing systems maker Keurig Green Mountain and customer-management software developer Salesforce.com each rose sharply after reporting better-than-expected earnings and revenue. Keurig vaulted $7.38, or 18.2 percent, to $47.88. Salesforce.com climbed $3.29, or 4.3 percent, to $80.64.

Traders also bid up shares in J.M. Smucker, which delivered earnings that beat Wall Street's expectations. The food products company jumped $7.90, or 7 percent, to $121.28.

Square and Match Group made a big splash in their market debut.

Square, known for its white, cube-shaped credit and debit card readers that plug into smartphones, gained $4.07, or 45.2 percent, to $13.07. Match, owner of online dating portals Tinder, Match.com and OKCupid, climbed $2.74, or 22.8 percent, to $14.74.

In Europe, Germany's DAX gained 1 percent, while France's CAC-40 rose 0.2 percent. Britain's FTSE 100 climbed 0.8 percent. In Asia, China's main stock index rose 1.4 percent, while Hong Kong's Hang Seng gained 1.4 percent. Tokyo's Nikkei 225 rose 1.1 percent, while South Korea's Kospi gained 1.3 percent.

Benchmark U.S. crude fell 21 cents to $40.54 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, rose 4 cents to $44.18 a barrel in London.

Wholesale gasoline rose 2 cents to $1.288 a gallon, heating oil fell 1 cent to $1.372 a gallon and natural gas fell 7 cents to $2.276 per 1,000 cubic feet.

Precious and industrial metals prices were mixed. Gold rose $9.20 to $1,077.90 an ounce, silver gained 14 cents to $14.22 an ounce and copper was essentially flat at $2.08 a pound.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.24 percent from 2.27 percent late Wednesday.

The euro rose to $1.0731 from $1.0647 while the dollar fell to 122.86 yen from 123.57 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	91.06	points or ▲	0.51%	on	Friday, November 20, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,823.81	▲	91.06	▲	0.51%		
	Nasdaq____	5,104.92	▲	31.28	▲	0.62%		
	S&P_500___	2,089.17	▲	7.93	▲	0.38%		
	30_Yr_Bond____	3.02	▲	0.02	▲	0.50%		

NYSE Volume	 3,872,529,750 	 	 	 	 	  		 
Nasdaq Volume	 1,732,027,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,334.63	▲	4.70	▲	0.07%		
	DAX_____	11,119.83	▲	34.39	▲	0.31%		
	CAC_40__	4,910.97	▼	-4.13	▼	-0.08%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,305.50	▲	12.20	▲	0.23%		
	Shanghai_Comp	3,630.50	▲	13.44	▲	0.37%		
	Taiwan_Weight	8,465.45	▼	-11.75	▼	-0.14%		
	Nikkei_225___	19,879.81	▲	20.00	▲	0.10%		
	Hang_Seng.__	22,754.72	▲	254.50	▲	1.13%		
	Strait_Times.__	2,917.91	▼	-1.92	▼	-0.07%		
	NZX_50_Index_	6,008.52	▲	13.27	▲	0.22%		

http://finance.yahoo.com/news/retailers-lift-us-stocks-toward-153017362.html

*Stocks march higher, ending their best week so far this year

Stock market has its best week of the year; retailers climb, led by Ross Stores*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- The stock market closed out its best week of the year Friday as big gains by retailers and technology companies pushed major indexes upward.

Stocks faded as Friday wore on, but they still finished higher. The S&P 500 index climbed almost 3.3 percent this week. By just a hair, that was its biggest weekly gain in 2015.

Stocks climbed Monday and Wednesday as the U.S. market didn't seem to be affected by a string of unsettling international events, including last Friday's terrorist attack in Paris. Instead, investors responded to signs the U.S. economy remains strong.

The Dow Jones industrial average rose 91.06 points, or 0.5 percent, to 17,823.81. The Standard & Poor's 500 index added 7.93 points, or 0.4 percent, to 2,089.17. The Nasdaq composite index gained 31.28 points, or 0.6 percent, to 5,104.92. The Dow turned positive for the year by a fraction of a point.

"Throughout the week we got more and more news that the Federal Reserve was assessing the economy favorably," said Erik Davidson, chief investment officer at Wells Fargo Private Bank.

Davidson said investors have slowly gotten used to the idea that the Federal Reserve is going to raise interest rates. That prospect worried them greatly a few months ago, but now, stocks are rising because investors are taking heart that the Fed believes the economy is on solid footing. Meanwhile, new economic stimulus in Europe could strengthen the global economy.

Retailers rallied after solid earnings reports from discount chain Ross Stores and footwear seller Foot Locker. Retail stocks got pummeled this month after weak reports from Macy's and Nordstrom caused investors to worry that the holiday shopping season would be a bust. But some retailers are doing well.

Ken Perkins, president of the research firm Retail Metrics, said shoppers are looking for discounts and turning to lower-priced retailers like TJ Maxx and Ross Stores and to "fast fashion" retailers who keep up with the latest trends.

"All that doesn't bode well for mall-based retailers," Perkins said.

Ross Stores gained $4.64, or 10 percent, to $50.84 while Foot Locker rose $3.49, or 5.7 percent, to $65.02. Gap advanced $1.89, or 7.5 percent, to $26.98 and Urban Outfitters rose 71 cents, or 3.2 percent, to $23.

Athletic apparel and footwear maker Nike said it will raise its dividend, buy back $12 billion of its own shares and split its stock. Nike, which has nearly tripled over the last five years, rose $6.87, or 5.5 percent, to $132.65.

Alphabet, the parent company of Google, led a rally in tech stocks and made its biggest gain in almost a month. The company said Wednesday that former VMWare CEO Diane Green will run Google's commercial technology business. That suggests Google wants to strengthen its enterprise business, which is a big profit center for Amazon and Microsoft but an area where Google has lagged. Alphabet shares rose $17.06, or 2.2 percent, to $777.

HP Enterprise, which sells commercial computer systems, software and tech services, rose 43 cents, or 2.1 percent, to $14.21. Web domain-name registration company VeriSign added $3.70, or 4.3 percent, to $90.30.

TurboTax maker Intuit climbed after it reported strong quarterly revenue and gave a forecast for the current quarter that was better than analysts expected. The stock added $5.78, or 5.9 percent, to $103.20.

Chipotle Mexican Grill sustained its biggest one-day loss in three years. The shares dropped $75.32, or 12.3 percent, to $536.19 after the Centers for Disease Control and Prevention said an E. coli outbreak linked to Chipotle locations has been found in three more states around the country. In October Chipotle briefly closed all its restaurants in Oregon and Washington to stem the outbreak.

U.S. crude lost 15 cents to $40.39 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, rose 48 cents, or 1.1 percent, to $44.66 a barrel in London. This week U.S. crude dipped under $40 a barrel for the first time in almost three months.

Wholesale gasoline was unchanged at $1.371 a gallon. Heating oil was also little changed at $1.29 a gallon. Natural gas fell 13 cents to $2.145 per 1,000 cubic feet.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.26 percent from 2.25 percent late Thursday. The euro fell to $1.0657 from $1.0731. The dollar edged up to 122.87 yen from 122.86 yen.

Metals prices continued to slide. The price of gold fell $1.60 to $1,076.30 an ounce. Silver slipped 12.6 cents, or 0.9 percent, to $14.10 an ounce. Copper declined 2.2 cents, or 1 percent, to $2.06 a pound.

2147


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-31.13	points or ▼	-0.17%	on	Monday, November 23, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,792.68	▼	-31.13	▼	-0.17%		
	Nasdaq____	5,102.48	▼	-2.44	▼	-0.05%		
	S&P_500___	2,086.59	▼	-2.58	▼	-0.12%		
	30_Yr_Bond____	3.01	▼	-0.01	▼	-0.36%		

NYSE Volume	 3,511,376,250 	 	 	 	 	  		 
Nasdaq Volume	 1,637,557,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,305.49	▼	-29.14	▼	-0.46%		
	DAX_____	11,092.31	▼	-27.52	▼	-0.25%		
	CAC_40__	4,889.12	▼	-21.85	▼	-0.44%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,326.50	▲	21.00	▲	0.40%		
	Shanghai_Comp	3,610.31	▼	-20.18	▼	-0.56%		
	Taiwan_Weight	8,485.73	▲	20.28	▲	0.24%		
	Nikkei_225___	19,879.81	▲	20.00	▲	0.10%		
	Hang_Seng.__	22,665.90	▼	-88.82	▼	-0.39%		
	Strait_Times.__	2,903.49	▼	-14.42	▼	-0.49%		
	NZX_50_Index_	6,077.62	▲	69.10	▲	1.15%		

http://finance.yahoo.com/news/stocks-edge-higher-continuing-momentum-last-week-152306090.html

*Markets fade after an early gain, finish with small losses*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” Stocks gained ground early Monday as they came off their best week in 2015, but faded in the afternoon and sustained small losses for the day.

Technology stocks fell more than the rest of the market. Pfizer and Allergan slipped after announcing a deal to combine and create the world's largest drug company. GameStop skidded after reporting weak results.

The Dow Jones industrial average lost 31.13 points, or 0.2 percent, to 17,792.68. The Standard & Poor's 500 index declined 2.58 points, or 0.1 percent, to 2,086.59. The Nasdaq composite index fell 2.44 points, or 0.1 percent, to 5,102.48.

The S&P 500 index rose 3.3 percent last week, lifted by good news from retailers and tech stocks. That was its largest weekly gain since last December. However, it wasn't quite enough to cancel out the big loss the S&P suffered the previous week.

Pfizer, the maker of Viagra and Lipitor, said it will buy Botox maker Allergan for about $155 billion. The New York-based company will gain new products that will help it counteract the expiration of patents protecting some key drugs. Pfizer will also become based in Ireland as part of the deal, reducing its tax bill.

If the purchase goes through, it will be one of the largest corporate transactions in history. It's also the biggest deal in 2015, a year that has been filled with big mergers. Just two weeks ago, Budweiser maker AB InBev agreed to buy rival beer maker SABMiller for $107 billion.

Pfizer gave up 85 cents, or 2.6 percent, to $31.33 and Allergan fell $10.74, or 3.4 percent, to $301.72. The companies said last month that they were discussing a combination, and Allergan shares are up about 6 percent since then while Pfizer stock has lost 11 percent.

Apple dragged down the technology sector as its stock fell $1.55, or 1.3 percent, to $117.75.

Video game retailer GameStop slipped after it reported a smaller quarterly profit and less revenue than analysts had forecast. The company said sales of new games and game systems weren't as good as it expected, and sales were also hurt by delays in opening some stores. Its shares slid $1.65, or 4.2 percent, to $37.61.

Video game maker Electronic Arts fell after GameStop's announcement, losing $3.44, or 4.8 percent, to $68.98.

Consumer discretionary stocks rose. Chipotle Mexican Grill rebounded $23.10, or 4.3 percent, to $559.29. The stock dropped 12 percent and set an annual low Friday on reports that an E. coli outbreak linked to its restaurants had spread.

Amazon rose $10.54, or 1.6 percent, to $678.99 days before Black Friday. Macy's, which like many retailers has taken a beating on fears the holiday shopping season will be weak, rose $1.44, or 3.7 percent, to $40.04.

Tuesday morning the Conference Board will release its latest Consumer Confidence report. That will give investors more insight into how consumers are feeling and how much they'll spend shopping.

Tobias Levkovich, chief U.S. Equity Strategist for Citi Investment Research, said consumers will keep spending because businesses are hiring, energy costs and interest rates are low, and there are some signs that wages are increasing.

"Large and small business both look primed to keep hiring, which has got to be good news for consumers," he said.

British drugmaker Mallinckrodt and food producer Tyson both climbed following solid quarterly reports. Tyson climbed $4.44, or 10.2 percent, to $48.09. Mallinckrodt gained $5.10, or 8.4 percent, to $66.10. Its shares have plunged 47 percent since early August on concerns about new regulations of drug prices, which could hurt its business.

Alcoa rose after the hedge fund Elliott Management disclosed that it has bought a 6.4 percent stake in the maker of aluminum and other metals. Alcoa picked up 38 cents, or 4.4 percent, to $9.07.

Benchmark U.S. crude fell 15 cents, or 0.4 percent, to close at $41.75 a barrel in New York. Brent crude, which is used to price international oils, rose 17 cents, or 0.4 percent, to $44.83 a barrel in London.

Heating oil edged up 0.3 cents to $1.374 a gallon. Wholesale gasoline added 2.3 cents to $1.313 a gallon. Natural gas rose 6.5 cents, or 3 percent, to $2.21 per 1,000 cubic feet.

Metals prices are mired in a slump that has taken them to their lowest prices in six years. That continued Monday, as gold fell $9.50, or 0.9 percent, to $1,066.80 an ounce and silver lost six cents, or 0.5 percent, to $14.03 an ounce. Copper slid 3.4 cents, or 1.7 percent, $2.02 per pound.

U.S. government bond prices rose slightly. The yield on the 10-year Treasury note fell to 2.24 percent from 2.26 percent. The dollar rose to 122.85 yen from 122.84 yen. The euro declined to $1.0625 from $1.0657 Friday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	19.51	points or ▲	0.11%	on	Tuesday, November 24, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,812.19	▲	19.51	▲	0.11%		
	Nasdaq____	5,102.81	▲	0.33	▲	0.01%		
	S&P_500___	2,089.14	▲	2.55	▲	0.12%		
	30_Yr_Bond____	3.01	▲	0.00	▼	-0.03%		

NYSE Volume	 3,788,585,250 	 	 	 	 	  		 
Nasdaq Volume	 1,924,624,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,277.23	▼	-28.26	▼	-0.45%		
	DAX_____	10,933.99	▼	-158.32	▼	-1.43%		
	CAC_40__	4,820.28	▼	-68.84	▼	-1.41%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,277.00	▼	-49.50	▼	-0.93%		
	Shanghai_Comp	3,616.11	▲	5.79	▲	0.16%		
	Taiwan_Weight	8,400.14	▼	-85.59	▼	-1.01%		
	Nikkei_225___	19,924.89	▲	45.08	▲	0.23%		
	Hang_Seng.__	22,587.63	▼	-78.27	▼	-0.35%		
	Strait_Times.__	2,924.33	▲	20.84	▲	0.72%		
	NZX_50_Index_	6,101.27	▲	23.65	▲	0.39%		

http://finance.yahoo.com/news/us-stocks-slip-early-trading-following-europe-lower-151619985.html

*US stocks recover from early slump; price of oil spikes*
By MARLEY JAY

NEW YORK (AP) ”” Stocks overcame an early stumble Tuesday and finished modestly higher as investors shook off concerns about heightened tensions in the Middle East and a drop in consumer confidence.

The price of oil spiked after Turkey shot down a Russian fighter plane that Turkey said had violated its airspace and ignored warnings. Energy stocks including Exxon Mobil and Chevron moved higher along with the price of oil. Travel-related stocks including airlines, cruise operators and booking sites like Expedia slumped.

The Dow Jones industrial average climbed 19.51 points, or 0.1 percent, to 17,812.19. The Standard & Poor's 500 index added 2.55 points, or 0.1 percent, to 2,089.14. The Nasdaq composite index inched up 0.33 points to 5,102.81.

The downing of the Russian plane added a new layer of complexity to the crisis in Syria. Russia denied that its jets had violated Turkish airspace, said it had been betrayed by Turkey, and warned of severe consequences. NATO worked to reduce tensions at an extraordinary meeting.

Domestically, a business research group said consumer confidence in the U.S. sank this month as Americans worried about the state of the job market. The Conference Board said consumer confidence fell to its lowest level in a year. That was a surprise after a month of strong job gains in October. Consumer discretionary stocks including Netflix and Amazon slipped following the report.

Jeremy Zirin, chief equity strategist at UBS Wealth Management Research, said the confidence report was a surprise because there are a lot of reasons for consumers to feel good right now. Employers are hiring and Americans have more money to spend because inflation and gas prices are low. There's also evidence wages are increasing.

"It's hard to explain," he said. Zirin said he thinks consumer confidence will improve in December.

Crude oil rose $1.12, or 2.7 percent, to $42.87 a barrel in New York. That followed a 3.4-percent jump on Monday. Before that, the price of U.S. crude had fallen to its lowest level since August. Brent crude rose $1.29, or 2.9 percent, to $46.12 a barrel in London.

In other energy trading, wholesale gasoline climbed 7.7 cents, or 5.8 percent, to $1.39 a gallon. Heating oil rose 2.5 cents, or 1.8 percent, to $1.40 a gallon. Natural gas missed out on the rally and lost 1 cent to $2.20 per 1,000 cubic feet.

Energy stocks rose 2.1 percent, by far the largest gain in the S&P 500 index. Exxon Mobil rose $1.60, or 2 percent, to $81.88 and Chevron gained $1.34, or 1.5 percent, to $81.35.

The rising price of oil was one of several pieces of bad news for travel stocks like booking sites and airlines. Higher oil prices mean increased fuel costs, and they would also leave consumers with less money for travel. The sector was also battered by a global travel warning from the State Department and the drop in consumer confidence, which suggests that Americans might become nervous about spending money on vacations.

The State Department advised travelers that groups including the Islamic State, al Qaeda and Boko Haram continue to plan terrorist attacks, and Americans should be particularly alert around the holidays. Cowen & Co. analyst Helane Becker said bookings might slump after that warning, but if there's a dip, it probably won't long.

"There's usually a decline in bookings in the short term," she said. "I suspect that people who have planned their vacations around the holidays will continue to go but perhaps people who are booking will stay stateside or not go at all."

Priceline sank $24.14, or 1.9 percent, to $1,240.18 and competitor Expedia shed $3.65, or 3.7 percent, to $121.27. Among airlines, United lost $1.76, or 3 percent, to $56.80 and Southwest dropped $1.24, or 2.6 percent, to $46.23. Royal Caribbean lost $2.91, or 3.1 percent, to $92.02 and Carnival gave up $1, or 2 percent, to $50.39.

Quarterly earnings reports continued to roll in. Jewelry company Signet, the owner of brands including Kay Jewelers, Jared and Zale, reported lower than expected profit and revenue. Its stock dropped $5.76, or 4.1 percent, to $134.89.

Food makers Campbell Soup and Hormel both rose after releasing their results. Campbell Soup shares picked up $1.54, or 3.1 percent, to $51.33 and Hormel added $2.06, or 3 percent, to $71.32.

Metals prices, which have tumbled to six-year lows, made some gains. Gold rebounded $7, or 0.7 percent, to $1,073.80 an ounce. The price of silver rose for only the third time in November, adding 12.7 cents, or 0.9 percent, to $14.159 an ounce. Copper picked up 3.4 cents, or 1.7 percent, to $2.055 a pound.

The euro rose to $1.0655 from $1.0625. The dollar fell to 122.44 yen from 122.85 yen. Bond prices didn't move much. The yield on the 10-year Treasury note rose to 2.25 percent from 2.24 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

*U.S. markets will be closed Thursday November 26 for Thanksgiving. They will reopen Friday but will close at 1 p.m. Eastern.	* 

 *The NYSE DOW closed  	HIGHER ▲	1.2	points or ▲	0.01%	on	Wednesday, November 25, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,813.39	▲	1.20	▲	0.01%		
	Nasdaq____	5,116.14	▲	13.33	▲	0.26%		
	S&P_500___	2,088.87	▼	-0.27	▼	-0.01%		
	30_Yr_Bond____	3.00	▼	-0.01	▼	-0.37%		

NYSE Volume	 2,789,228,500 	 	 	 	 	  		 
Nasdaq Volume	 1,523,905,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,337.64	▲	60.41	▲	0.96%		
	DAX_____	11,169.54	▲	235.55	▲	2.15%		
	CAC_40__	4,892.99	▲	72.71	▲	1.51%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,245.20	▼	-31.80	▼	-0.60%		
	Shanghai_Comp	3,647.93	▲	31.82	▲	0.88%		
	Taiwan_Weight	8,386.13	▼	-14.01	▼	-0.17%		
	Nikkei_225___	19,847.58	▼	-77.31	▼	-0.39%		
	Hang_Seng.__	22,498.00	▼	-89.63	▼	-0.40%		
	Strait_Times.__	2,897.28	▼	-26.21	▼	-0.90%		
	NZX_50_Index_	6,069.14	▼	-32.13	▼	-0.53%		

http://finance.yahoo.com/news/us-stocks-edge-higher-early-152427276.html

*US stocks wobble into Thanksgiving break in light trading*
Associated Press By MARLEY JAY

NEW YORK (AP) — Stocks wobbled on Wednesday and finished little changed before the Thanksgiving holiday in the U.S.

The market was positive for most of the day, but its gains dissipated in the final minutes of trading. Last week the markets made their biggest weekly jump of 2015, but the indexes have hardly budged this week.

The Dow Jones industrial average rose 1.20 points to 17,813.39, while the Standard & Poor's 500 index lost 0.27 points to 2,088.87. The Nasdaq composite index picked up 13.33 points, or 0.3 percent, to 5,116.14.

U.S. markets will be closed Thursday for Thanksgiving. They will reopen Friday but will close at 1 p.m. Eastern.

A rebound by drugmakers Pfizer and Allergan boosted the health care sector, while consumer stocks like e-commerce giant Amazon.com and home retailer Home Depot rose in the last trading day before Black Friday unofficially kicks off the holiday shopping period.

Pfizer rose 90 cents, or 2.8 percent, to $32.87 and Irish counterpart Allergan added $8.83, or 2.8 percent, to $320.26. On Monday the two drugmakers said they would combine in a deal valued at about $155 billion. Pfizer shares fell a combined 10 percent Monday and Tuesday, and Allergan shares also slipped after the deal was announced. However the stock is up 12 percent since late October, when the companies confirmed they were in talks.

Agricultural equipment maker Deere rose after its fiscal fourth-quarter results and projections for the current fiscal year were better than analysts expected. While sales of tractors and bulldozers and other machinery have dropped, Deere has slashed its costs. The stock rose $3.66, or 4.8 percent, to $80.

Hewlett-Packard reported earnings for the final time Tuesday night, weeks after the tech giant formally split into two separate companies. HP, which inherited the parent company's PC, printer and commercial software business, sank $2, or 13.7 percent, to $12.64 as its sales weakened. Hewlett Packard Enterprise gained 43 cents, or 3.1 percent, to $14.12. Sales of hardware for data centers, including servers and networking devices, improved.

Energy stocks, which surged Tuesday, gave back some of their gains even though the price of oil increased slightly. The U.S. government said crude oil stockpiles rose last week. They are at their highest levels in at least 80 years.

NRG Energy lost 44 cents, or 3.5 percent, to $12.18. ConocoPhillips fell 94 cents, or 1.7 percent, to $54.38.

The price of U.S. crude rose 17 cents, or 0.4 percent, to $43.04 a barrel in New York. Brent crude, a benchmark for international oils, picked up five cents to $46.17 a barrel in London.

Wholesale gasoline rose 0.6 cents to $1.396 a gallon. Heating oil inched up 0.3 cents to $1.403 a gallon. Natural gas rose 0.6 cents to $2.206 per 1,000 cubic feet.

The Commerce Department said consumer spending inched up 0.1 percent in October, the second small gain in a row. Despite weak spending in September and October, economists think spending will keep growing because the labor market is strong.

Spending on long-lasting manufactured goods improved in October after two months of declines. A measure of business investment improved by the biggest amount since July.

Brad Sorensen, director of market and sector research for Charles Schwab, said there were no big surprises in the economic reports. Most were a bit better than expected, and wages and compensation for workers appear to be rising.

"Both of those things play into the Fed being comfortable raising interest rates next month," he said. Most experts think the Federal Reserve will begin raising its key interest rate at its mid-December meeting. That rate has been near zero since 2008.

Sorensen said he thinks tech stocks will do well over the next few months as consumers continue to spend on electronics and businesses invest more in technology. He also thinks financial stocks, particularly large banks and regional banks, will score bigger profits because they'll be able to charge more money for loans.

Spam maker Hormel said it is planning a stock split that would double the number of shares on the market, which could boost demand for the stock. Its shares rose $2.23, or 3 percent, to $73.55. The stock gained 3 percent Tuesday after the company reported a strong fourth quarter and outlook, and it's been trading at all-time highs.

Metals prices slipped after making gains on Tuesday. Gold declined $3.80, or 0.4 percent, to $1,070 an ounce. Silver declined a fraction of a cent to $14.158 an ounce. Copper fell 0.9 cents, or 0.4 percent, to $2.046 a pound.

Bond prices ticked higher, and the yield on the 10-year Treasury inched down to 2.23 percent from 2.24 percent. The euro fell to $1.0617 from $1.0655 on Tuesday. The dollar rose to 122.72 yen from 122.44 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

*U.S. markets were closed Thursday November 26 for Thanksgiving. They will reopen Friday but will close at 1 p.m. Eastern*. 

 *The NYSE DOW closed  	HIGHER ▲	1.2	points or ▲	0.01%	on	Thursday, November 26, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,813.39	▲	1.20	▲	0.01%		HOLIDAY 
	Nasdaq____	5,116.14	▲	13.33	▲	0.26%	HOLIDAY 	
	S&P_500___	2,088.87	▼	-0.27	▼	-0.01%	HOLIDAY 	
	30_Yr_Bond____	3.00	▼	-0.01	▼	-0.37%		HOLIDAY 

NYSE Volume	 2,813,561,750 	 	HOLIDAY  	 	 	  		 
Nasdaq Volume	 1,528,368,880 			HOLIDAY 				

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,393.13	▲	55.49	▲	0.88%		
	DAX_____	11,320.77	▲	151.23	▲	1.35%		
	CAC_40__	4,946.02	▲	53.03	▲	1.08%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,259.70	▲	14.50	▲	0.28%		
	Shanghai_Comp	3,635.55	▼	-12.38	▼	-0.34%		
	Taiwan_Weight	8,484.90	▲	98.77	▲	1.18%		
	Nikkei_225___	19,944.41	▲	96.83	▲	0.49%		
	Hang_Seng.__	22,488.94	▼	-9.06	▼	-0.04%		
	Strait_Times.__	2,884.69	▼	-6.89	▼	-0.24%		
	NZX_50_Index_	6,087.90	▲	18.76	▲	0.31%		

http://finance.yahoo.com/news/asian-stocks-rise-expectations-europe-072524148.html

*With US off, global stocks buoyed by Europe stimulus hopes
Global stock markets buoyed by European stimulus hopes as Russia-Turkey jitters fade*
Associated Press By Pan Pylas, Associated Press

LONDON (AP) -- With Wall Street closed for the Thanksgiving holiday and tensions between Russia and Turkey fading, European stock markets were buoyed Thursday by expectations that the European Central Bank will back further stimulus for the ailing 19-country eurozone economy next week.

There's increasing speculation that ECB President Mario Draghi will announce a bold package of measures as the bank tries to shore up the economic recovery across the region and get inflation back towards its target of just below 2 percent on an annual basis. Currently, inflation is standing at 0.1 percent. That prospect is keeping the euro currency at relative lows at $1.06 as well as depressing the interest rates payable on a series of government bonds across Europe.

In Europe, the FTSE 100 index of leading British shares closed up 0.9 percent at 6,393.13 while Germany's DAX rose 1.4 percent to 11,320.77. The CAC-40 in France ended 1.1 percent higher at 4,946.02.

"In the event that the ECB fails to deliver what Mr. Market wants then one would expect to see a big drop in stock prices ”” an unlikely event, in our view," said Fawad Razaqzada, technical analyst at Forex.com.

Razaqzada said there's potential for stock markets, particularly in Europe, to post further strong gains over coming days before possibly retreating a little sometime after the ECB meeting on Thursday.

Earlier in Asia, Japan's Nikkei 225 rose 0.5 percent to 19,944.41 and South Korea's Kospi gained 1.1 percent to 2,030.68. Hong Kong's Hang Seng erased earlier gains, finishing flat at 22,488.94. Australia's S&P/ASX 200 advanced 0.3 percent to 5,210.70.

Wall Street is set to reopen Friday for an abbreviated session and much of the interest will likely center on Black Friday, when millions of Americans venture to shops the day after Thanksgiving in search of bargains.

In the energy markets, Brent crude, a benchmark for international oils, lost 75 cents to trade at $45.42 a barrel in London.


----------



## bigdog

Source: http://finance.yahoo.com 

*U.S. markets were closed Thursday November 26 for Thanksgiving. 

They reopened Friday with early close at 1 p.m. Eastern. 	* 

 *The NYSE DOW closed  	LOWER ▼	-14.9	points or ▼	-0.08%	on	Friday, November 27, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,798.49	▼	-14.90	▼	-0.08%		
	Nasdaq____	5,127.52	▲	11.38	▲	0.22%		
	S&P_500___	2,090.11	▲	1.24	▲	0.06%		
	30_Yr_Bond____	3.00	▲	0.01	▲	0.20%		

NYSE Volume	 1,439,365,880 	 	 	 	 	  		 
Nasdaq Volume	 773,855,310 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,375.15	▼	-17.98	▼	-0.28%		
	DAX_____	11,293.76	▼	-27.01	▼	-0.24%		
	CAC_40__	4,930.14	▼	-15.88	▼	-0.32%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,251.40	▼	-8.30	▼	-0.16%		
	Shanghai_Comp	3,436.30	▼	-199.25	▼	-5.48%		
	Taiwan_Weight	8,398.40	▼	-86.50	▼	-1.02%		
	Nikkei_225___	19,883.94	▼	-60.47	▼	-0.30%		
	Hang_Seng.__	22,068.32	▼	-420.62	▼	-1.87%		
	Strait_Times.__	2,859.12	▼	-25.57	▼	-0.89%		
	NZX_50_Index_	6,101.02	▲	13.12	▲	0.22%		

http://finance.yahoo.com/news/stocks-open-lower-holiday-energy-sector-slides-153030603--finance.html

*Disney stumbles

Stocks edge higher in quiet post-holiday trading; Disney has worst day in three months*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- Stocks finished mostly higher Friday as they wrapped up a quiet week of trading.

The Standard & Poor's 500 index fluctuated early on, but managed to eke out a small gain as telecommunications and financial stocks rose. Disney dragged down the Dow Jones industrial average after the company said ESPN lost 3 million subscribers in the last year. Oil prices slumped, dragging down energy stocks.

The Dow fell 14.90 points, or 0.1 percent, to 17,798.49. The S&P 500 picked up 1.24 points, or less than 0.1 percent, to 2,090.11. The Nasdaq composite index added 11.38 points, or 0.2 percent, to 5,127.52.

U.S. markets were closed Thursday for the Thanksgiving holiday, and closed at 1 p.m. on Friday.

Stocks didn't have much momentum in a week of light trading. The market made its biggest weekly gain of 2015 last week, but this week the Dow fell 0.1 percent and the S&P 500 rose less than 0.1 percent.

Oil prices dropped. Benchmark U.S. crude fell $1.33, or 3.1 percent, to $41.71 a barrel in New York. Brent crude, a benchmark for international oils, gave up 60 cents, or 1.3 percent, to $44.86 a barrel in London.

The largest losers on the S&P 500 were energy stocks. Consol Energy lost 52 cents, or 6.5 percent, to $7.48 and Southwestern Energy gave up 68 cents, or 7.2 percent, to $8.74.

Prudential Financial market strategist Quincy Krosby said oil prices gained a premium this week because of geopolitical concerns like increased military action against the Islamic State and growing tensions between Russia and Turkey after Turkey shot down a Russian fighter plane on Tuesday.

Krosby said those gains may not last long. Next week OPEC will hold a meeting in Vienna, and the group could send oil prices higher by deciding to cut back on production. Or, it could decide to keep producing oil at its present rate, which might make prices fall further.

That premium on the price of oil "can move up dramatically but also come down or dissipate just as quickly," Krosby said.

Disney fell $3.54, or 3 percent, to $115.13, its biggest one-day loss since August. Late Wednesday, Disney disclosed that U.S. subscribers to its ESPN sports channel fell for the second year in a row, to 92 million as of Oct. 3, matching the lowest total since 2006. ESPN's subscriber totals had hovered around 100 million for years.

Disney has said that ESPN has lost subscribers, but investors appeared shaken by the size of the losses. Small but growing numbers of people are opting out of traditional cable TV bundles and buying smaller, less expensive groups of channels instead. Investors in media companies are worried about potential losses of subscribers and revenue.

A dispute over the health and mental capacity of media mogul Sumner Redstone hit shares of Viacom, the owner of media properties including Paramount Pictures, Comedy Central, MTV and Nickelodeon. In a lawsuit filed Wednesday, Manuela Herzer, Redstone's former companion, said the 92-year-old executive can't make informed decisions anymore and needs medical care at all times. Lawyers for Redstone, who controls the shareholder vote at Viacom as well as at CBS, disputed the claims.

Viacom's Class B shares fell $1.19, or 2.3 percent, to $51.16.

Spam maker Hormel didn't miss a beat over the holiday break, rising $1.46, or 2 percent, to $75.01. Earlier this week Hormel posted strong-quarterly results and announced a planned stock split. Its shares rose 10 percent this week.

Hewlett Packard Enterprise also continued to rise. The technology services company, formerly part of Hewlett-Packard, saw an increase in sales of data-center hardware during the fourth quarter. Its shares added 23 cents, or 1.3 percent, to $14.35 after picking up 3 percent Wednesday.

Retail stocks didn't move much on Black Friday, when millions of shoppers hit the stores in search of bargains. Target rose 28 cents to $73.44 and Wal-Mart Stores dipped 35 cents to $59.89. Amazon fell $2.08 to $673.26.

In other energy trading, wholesale gasoline fell 0.6 cents to $1.391 a gallon. Heating oil fell 5 cents, or 3.6 percent, to $1.352 a gallon. Natural gas inched up 0.6 cents to $2.206 per 1,000 cubic feet.

Gold fell $13.80, or 1.3 percent, to $1,056.20 an ounce. Silver declined 15 cents, or 1.1 percent, to $14.008 an ounce. Copper inched up 0.5 cents to $2.051 a pound.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.22 percent from 2.24 percent late Wednesday. The euro fell to $1.0597 from $1.0617 and dollar rose to 122.84 yen from 122.72 yen.

2700


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-78.57	points or ▼	-0.44%	on	Monday, November 30, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,719.92	▼	-78.57	▼	-0.44%		
	Nasdaq____	5,108.67	▼	-18.86	▼	-0.37%		
	S&P_500___	2,080.41	▼	-9.70	▼	-0.46%		
	30_Yr_Bond____	2.99	▼	-0.01	▼	-0.37%		

NYSE Volume	 4,116,018,000 	 	 	 	 	  		 
Nasdaq Volume	 2,187,039,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,356.09	▼	-19.06	▼	-0.30%		
	DAX_____	11,382.23	▲	88.47	▲	0.78%		
	CAC_40__	4,957.60	▲	27.46	▲	0.56%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,218.20	▼	-33.20	▼	-0.63%		
	Shanghai_Comp	3,445.40	▲	9.10	▲	0.26%		
	Taiwan_Weight	8,320.61	▼	-77.79	▼	-0.93%		
	Nikkei_225___	19,747.47	▼	-136.47	▼	-0.69%		
	Hang_Seng.__	21,996.42	▼	-71.90	▼	-0.33%		
	Strait_Times.__	2,855.94	▼	-3.18	▼	-0.11%		
	NZX_50_Index_	6,100.15	▼	-0.87	▼	-0.01%		

http://finance.yahoo.com/news/us-stocks-little-changed-early-152322258.html#

*Signs of weak holiday spending send retail stocks lower*
Associated Press By KEN SWEET

NEW YORK (AP) ”” Stocks closed modestly lower on Monday, as traders returned from the Thanksgiving holiday to focus on the early signs of how the holiday shopping season may turn out and where interest rates may go in the U.S. and Europe.

The Dow Jones industrial average lost 78.57 points, or 0.4 percent, to 17,719.92. The Standard & Poor's 500 index lost 9.70 points, or 0.5 percent, to 2,080.41 and the Nasdaq composite lost 18.86 points, or 0.4 percent, to 5,108.67.

Consumer discretionary stocks were among the biggest decliners, including the big department stores like Macy's, Kohl's, Wal-Mart and Target. Initial data from the first holiday shopping weekend showed shoppers were not going to stores as much as last year.

Preliminary data from ShopperTrak showed in-store sales on Thanksgiving and Black Friday were $12.1 billion, down from $12.3 billion the year earlier. This despite an economic climate that should be inherently good for Americans to shop in, including lower gas prices from a year ago and an improving job market.

"We believe Black Friday has gone from a period of management excitement to one of anguish," Nomura retail analysts Simeon Siegel, Gene Vladimirov and Julie Kim wrote in a note to investors.

Investment bank analysts observed the department stores having to do deep discounting to attract shoppers to their stores. But data from research firms like ChannelAdvisor showed strong growth in sales online, which could suggest consumers decided to spend online instead of in brick-and-mortar shops.

Consumer discretionary stocks fell 1 percent, compared to the 0.5 percent drop in the S&P 500. Some of the more notable decliners were Macy's, which fell 91 cents, or 2.3 percent, to $39.08, Wal-Mart, which fell $1.05, or 1.8 percent, to $58.84 and Urban Outfitters, which fell $1.25, or 5.3 percent, to $22.40. Even online retail giant Amazon dropped $8.46, or 1.3 percent, to $664.80.

"While it's too early to make the call about how 2015 holiday revenues (and margins) will unfold, our survey results for the Black Friday weekend don't add a lot of confidence for the broad retail landscape," Dave Weiner and Sindhu Chitturi, retail analysts for Deutsche Bank, wrote in a note to investors.

More broadly, investors are also focused on this week's European Central Bank meeting and the release of U.S. jobs data.

The European Central Bank is widely expected to give the region's economy another dose of stimulus as it tries to keep a recovery going and get inflation closer to 2 percent. The stimulus is likely to include increasing the amount banks have to pay to park money at the ECB, giving them an incentive to lend it out instead.

While the ECB moves toward increasing stimulus, the Federal Reserve is getting ready to start raising interest rates for the first time since June 2006. A series of U.S. economic reports this week, culminating with Friday's jobs survey for November, could cement investors' expectations for a rate hike at the Fed's next policy meeting in mid-December.

"Unless this report is a total disaster, I think it's very, very likely the Fed is going to raise in December," said Scott Wren, senior equity strategist at the Wells Fargo Investment Institute.

The policy divergence between the two central banks has weighed on the euro and sent the dollar higher. On Monday the euro fell to $1.0572, its lowest level since April. It traded at $1.0591 late Friday.

Major U.S. stock indexes ended November with slight gains. The S&P 500 rose less than 0.1 percent and the Dow gained 0.3 percent.

Benchmark U.S. crude fell 6 cents to $41.65 a barrel in New York. Brent crude, which is used to price international oils, lost 25 cents to close at $44.61 a barrel in London. In other energy trading, wholesale gasoline fell 3.2 cents to $1.359 a gallon, heating oil fell 1.6 cents to $1.337 a gallon and natural gas rose 2.3 cents to $2.235 per 1,000 cubic feet.

U.S. government bond prices didn't move much. The yield on the 10-year Treasury note edged down to 2.21 percent. The dollar rose to 123.12 yen from 122.85 yen late Friday.

Gold rose $9.60 to $1,065.80 an ounce, silver edged up four cents to $14.05 an ounce and copper edged down half a penny to $2.04 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	168.43	points or ▲	0.95%	on	Tuesday, December 1, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,888.35	▲	168.43	▲	0.95%		
	Nasdaq____	5,156.31	▲	47.64	▲	0.93%		
	S&P_500___	2,102.63	▲	22.22	▲	1.07%		
	30_Yr_Bond____	2.92	▼	-0.07	▼	-2.41%		

NYSE Volume	 3,624,903,500 	 	 	 	 	  		 
Nasdaq Volume	 1,995,300,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,395.65	▲	39.56	▲	0.62%		
	DAX_____	11,261.24	▼	-120.99	▼	-1.06%		
	CAC_40__	4,914.53	▼	-43.07	▼	-0.87%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,312.60	▲	94.40	▲	1.81%		
	Shanghai_Comp	3,456.31	▲	10.90	▲	0.32%		
	Taiwan_Weight	8,463.30	▲	142.69	▲	1.71%		
	Nikkei_225___	20,012.40	▲	264.93	▲	1.34%		
	Hang_Seng.__	22,381.35	▲	384.93	▲	1.75%		
	Strait_Times.__	2,870.26	▲	14.32	▲	0.50%		
	NZX_50_Index_	6,150.68	▲	50.53	▲	0.83%		

http://finance.yahoo.com/news/us-stocks-open-higher-led-banks-industrials-152101753.html

*Health care, banking stocks lead a recovery in US markets*
Associated Press By KEN SWEET

NEW YORK (AP) -- Stocks started off December on a strong note, helped by improving economic data from Japan and Europe as well as hopes that the European Central Bank will expand its stimulus program. Trading remained relatively quiet ahead of the release later this week of the U.S. government's monthly jobs survey and a Federal Reserve meeting later this month.

The Dow Jones industrial average rose 168.43 points, or 1 percent, to 17,888.35. The Standard & Poor's 500 index rose 22.22 points, or 1.1 percent, to 2,102.63 and the Nasdaq composite rose 47.64 points, or 0.9 percent, to 5,156.31.

Financial stocks were among the biggest gainers, helped by the prospect of higher interest rates. Banks are more profitable when interest rates rise because they can charge more to lend. JPMorgan Chase rose 93 cents, or 1.4 percent, to $67.61. Goldman Sachs rose $3.05, or 1.6 percent, to $193.07 and Bank of America rose 38 cents, or 2.2 percent, to $17.81.

Investors are keyed into both the European Central Bank and the Federal Reserve this month. Policy decisions from both central banks will be important in determining the fate of the market in the last month of 2015.

"As it has been most of this year, central banks are still running the show," said Samantha Azzarello, global market strategist at J.P. Morgan Funds.

The ECB will decide on Thursday whether to expand its economic stimulus program, which functions similarly to the bond-buying program the Fed used after the financial crisis to keep long-term interest rates low. ECB head Mario Draghi has signaled the bank could expand its bond-buying program or even cut interest rates further.

Investors are so certain that Draghi will expand his program that data out Tuesday showing the unemployment rate in the 19-country eurozone edged down to a four-year low of 10.7 percent in October is not seen as likely to derail those measures.

In the U.S., most of the focus will be on the November job's report, to be released Friday. Expectations are high. Economists expect that U.S. employers added 271,000 jobs last month, according to FactSet. The unemployment rate is expected remain at 5 percent.

This jobs report comes shortly before the Fed's two-day meeting later this month, where policymakers will debate moving interest rates in the opposite direction of the ECB: higher. Securities that allow investors to bet on which way the Fed will move rates are forecasting a 79 percent probability that the Fed will tighten. Unless Friday's jobs report is horrific, that is unlikely to change.

"Generally the last couple of weeks have been very quiet. We've been and will be in a holding pattern head of the Fed's December meeting," said Ryan Larson, head of equity trading with RBC Global Asset Management.

In energy markets, benchmark U.S. crude rose 20 cents to $41.85 a barrel on the New York Mercantile Exchange. Brent crude, which is used to price oil internationally, lost 17 cents to $44.44 a barrel in London. Heating oil rose a cent to $1.369 a gallon, wholesale gasoline rose six cents to $1.363 a gallon and natural gas was roughly unchanged at $2.231 per thousand cubic feet.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.14 percent from 2.21 percent. The U.S. dollar slipped to 122.84 yen from 123.25 yen on Monday on the Japanese economic data. The euro rose to $1.0631 from $1.0572.

Gold fell $1.80, or 0.2 percent, to $1,063.50 an ounce, silver was roughly unchanged at $14.08 an ounce and copper rose two cents, or 1 percent, to $2.072 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	158.67	points or ▲	0.89%	on	Wednesday, December 2, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,729.68	▲	158.67	▲	0.89%		
	Nasdaq____	5,123.22	▲	33.08	▲	0.64%		
	S&P_500___	2,079.51	▲	23.12	▲	1.10%		
	30_Yr_Bond____	2.91	▲	0.01	▲	0.38%		

NYSE Volume	 3,895,699,500 	 	 	 	 	  		 
Nasdaq Volume	 2,036,776,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,420.93	▲	25.28	▲	0.40%		
	DAX_____	11,190.02	▲	71.22	▲	0.63%		
	CAC_40__	4,905.76	▲	8.77	▲	0.18%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,304.70	▼	-7.90	▼	-0.15%		
	Shanghai_Comp	3,536.91	▲	80.60	▲	2.33%		
	Taiwan_Weight	8,457.40	▼	-5.90	▼	-0.07%		
	Nikkei_225___	19,938.13	▼	-74.27	▼	-0.37%		
	Hang_Seng.__	22,479.69	▲	98.34	▲	0.44%		
	Strait_Times.__	2,883.64	▲	13.38	▲	0.47%		
	NZX_50_Index_	6,143.31	▼	-7.37	▼	-0.12%		

http://finance.yahoo.com/news/stocks-mixed-early-trade-oil-price-slips-150946423.html

*A slump in the price of crude oil sinks energy stocks*
Associated Press By KEN SWEET

NEW YORK (AP) ”” Stocks sank Wednesday as a sharp drop in the price of oil dragged down energy companies. U.S. crude closed below $40 a barrel for the first time since August.

Investors continue to weigh the implications of potential changes in interest rate policy around the world. The European Central Bank meets Thursday to discuss increasing its stimulus program, and the Federal Reserve is likely to raise rates for the first time in nine years at its next policy meeting in mid-December.

The Dow Jones industrial average fell 158.67 points, or 0.9 percent, to 17,729.68. The Standard & Poor's 500 index fell 23.12 points, or 1.1 percent, to 2,079.51 and the Nasdaq composite lost 33.08 points, or 0.6 percent, to 5,123.22.

Oil and gas stocks fell far more than the rest of the market. Energy stocks in the S&P 500 sank 3.1 percent compared with a 1.1 percent decline in the broader market.

The price of oil was lower all day, and the losses accelerated in the afternoon after the Energy Department reported that U.S. crude inventories rose by 1.2 million barrels last week, while analysts had expected a decline.

Benchmark U.S. crude dropped $1.91, or 4.6 percent, to $39.94 a barrel on the New York Mercantile Exchange. Brent crude, which is used to price international oils, fell $1.95, or 4.4 percent, to $42.49 a barrel in London.

Exxon Mobil fell $2.34, or 3 percent, to $79.55, Chevron lost $2.33, or 2.5 percent, to $90.25 and drilling rig operator Transocean fell 37 cents, or 2.6 percent, to $13.83.

In other trading, Yahoo jumped $1.94, or 6 percent, to $35.65 on reports that the company was considering selling its core Internet businesses in order to avoid a big tax bill on the eventual sale of its stake in Chinese e-commerce giant Alibaba. Yahoo has struggled for years to re-energize its business model.

Outside the drop in oil prices, and its impact on energy companies, investors remain focused on what the world's central banks plan to do at their upcoming policy meetings.

The consensus among investors is that the Fed will raise rates at its December 15-16 meeting. That thesis was reinforced Wednesday, when Fed Chair Janet Yellen indicated that the U.S. economy is on track for an interest rate hike this month, though she was careful to point out that the Fed will need to review any upcoming data before making a final decision.

Government bond prices fell after Yellen's comments. The yield on the 10-year Treasury note rose to 2.18 percent from 2.15 percent late Tuesday.

The data Yellen is referring to includes the November jobs report, which comes out Friday. Economists forecast that U.S. employers created 200,000 jobs last month and the unemployment rate remained steady at 5 percent.

"It's becoming more and more likely that the Fed is going to rate rates," said Kristina Hooper, Head of U.S. Investment Strategies at Allianz Global Investors.

Unless the November employment figures are extraordinarily weak, investors believe the Fed will raise interest rates this month, from record low levels, for the first time since the financial crisis. Some preliminary jobs data out Wednesday supported the prediction that the U.S. jobs market continued to improve last month. The payroll processor ADP said the private sector created 217,000 jobs in November.

In Europe, investors expect the European Central Bank will move in the opposite direction and expand its stimulus program when policymakers meet on Thursday, either by expanding its bond purchases or by cutting interest rates further. ECB head Mario Draghi signaled that action is coming this week as the bank seeks to support growth and push inflation higher.

The U.S. dollar strengthened to 123.24 yen from 122.84 yen. The euro slipped to $1.0613 from $1.0631.

In other energy futures trading in New York, wholesale gasoline fell 7 cents, or 5.1 percent, to close $1.293 a gallon, heating oil fell 6.4 cents, or 4.7 percent, to $1.305 a gallon and natural gas declined 6.6 cents, or 3 percent, to $2.165 a gallon.

In metals, gold fell $9.70, or 1 percent, to $1,053.80 a troy ounce, silver fell seven cents to $14.01 an ounce and copper fell four cents to $2.033 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-252.01	points or ▼	-1.42%	on	Thursday, December 3, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,477.67	▼	-252.01	▼	-1.42%		
	Nasdaq____	5,037.53	▼	-85.70	▼	-1.67%		
	S&P_500___	2,049.62	▼	-29.89	▼	-1.44%		
	30_Yr_Bond____	3.08	▲	0.17	▲	5.78%		

NYSE Volume	 4,254,098,500 	 	 	 	 	  		 
Nasdaq Volume	 2,059,799,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,275.00	▼	-145.93	▼	-2.27%		
	DAX_____	10,789.24	▼	-400.78	▼	-3.58%		
	CAC_40__	4,730.21	▼	-175.55	▼	-3.58%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,276.70	▼	-28.00	▼	-0.53%		
	Shanghai_Comp	3,584.82	▲	47.92	▲	1.35%		
	Taiwan_Weight	8,456.06	▼	-1.34	▼	-0.02%		
	Nikkei_225___	19,939.90	▲	1.77	▲	0.01%		
	Hang_Seng.__	22,417.01	▼	-62.68	▼	-0.28%		
	Strait_Times.__	2,888.14	▲	4.50	▲	0.16%		
	NZX_50_Index_	6,125.67	▼	-17.64	▼	-0.29%		

http://finance.yahoo.com/news/us-european-stocks-fall-ecb-151748067.html#

*Markets slide in US and Europe after stimulus falls short*
Associated Press By KEN SWEET

NEW YORK (AP) — Global markets sank Thursday after the European Central Bank announced stimulus plans that came up short of what investors had forecast. The bond market was especially roiled by the ECB's move. Bond prices in the U.S. and Europe fell sharply, and yields jumped.

The Dow Jones industrial average lost 252.01 points, or 1.4 percent, to 17,477.67. The Standard & Poor's 500 index fell 29.89 points, or 1.4 percent, to 2,049.62 and the Nasdaq composite fell 85.70 points, or 1.7 percent, to 5,037.53. The selling pushed the S&P 500 back into the red for 2015.

The ECB's stimulus plans, long awaited, came in with a thud on Thursday. The ECB announced a slight cut in one of its key interest rates in an attempt to stimulate lending and help a modest economic recovery. Investors had expected to see the ECB step up its monthly purchases of bonds as well.

"Financial markets were expecting the ECB to do 'whatever it takes' to stimulate inflation, and instead the ECB did 'maybe what it'll take' to stimulate inflation," said Guy LeBas, head of fixed income at Janney Montgomery Scott.

Europe's economy has lagged behind the U.S. since the financial crisis, and policymakers have struggled to keep the 19 countries that use the euro from falling into deflation or an economic contraction. But the President of the ECB, Mario Draghi, has been far more aggressive than his predecessors in trying new ways to boost the economy, including its current program of negative interest rates and bond buying. Expectations were high for this week's meeting.

"In the last couple of years, Mario Draghi and the ECB would typically over-deliver on what they indicated they would do to help stimulate the economy. So a lot of investors overbought bonds on expectations that Draghi would over-deliver. This time, he didn't, and he disappointed the market quite a bit," said Bob Michele, head of global fixed income at JPMorgan Asset Management.

The ECB's announcement caused the euro to jump 3 percent against the dollar, a large move for currencies, to $1.0975. Investors had been betting against the euro ahead of the announcement, expecting that more central bank stimulus would put pressure on the currency. Investors had to unwind those positions, causing Thursday's oversized moved in the currency market.

"People aren't sure where to put their money so everyone just went to cash," said J.J. Kinahan, chief strategist at TD Ameritrade.

European stocks also had one of their worst days in months. Germany's DAX plunged 3.6 percent, its biggest drop since September. France's CAC-40 index lost 3.6 percent and the U.K.'s FTSE lost 2.3 percent.

With the ECB not expanding stimulus as much as expected, European bond prices fell sharply, sending yields higher. If the ECB had announced more stimulus, it would have had the effect of putting downward pressure on interest rates. The yield on the 10-year German government bond soared 0.20 percentage points to 0.67 percent, a massive move in the bond market. The yield on the 10-year French government bond rose 0.20 percentage points to 0.99 percent, also a substantial move.

The sell-off in the dollar also impacted U.S. Treasuries. The yield on the 10-year Treasury note jumped to 2.32 percent, up sharply from 2.18 percent the day before.

Investors now turn to back to the U.S. While the ECB is easing policy, the Federal Reserve looks set to raise interest rates later this month for the first time in nine years. In comments Wednesday, Fed Chair Janet Yellen gave an upbeat assessment of the economy's progress since the Fed's last meeting in October, describing it as in line with its expectations for the labor market and inflation. She also was careful to point out the need to review upcoming data, including the U.S. jobs report Friday.

Economists forecast that U.S. employers created 200,000 jobs in November, and the unemployment rate remained steady at 5 percent.

In other markets, benchmark U.S. crude jumped $1.14, or 2.9 percent, to close at $41.08 a barrel on the New York Mercantile Exchange. Brent crude, which is used to set prices for international oils, climbed $1.35, or 3.2 percent, to $43.84 a barrel in London.

Heating oil rose 5.4 cents to $1.359 a gallon, wholesale gasoline rose 0.3 cent to $1.296 a gallon and natural gas rose 1.6 cents to $2.181 per thousand cubic feet.

In metals, gold rose $7.40, or 0.7 percent, to $1,061.20 an ounce, silver rose seven cents to $14.08 an ounce and copper rose three cents to $2.06 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	369.96	points or ▲	2.12%	on	Friday, December 4, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,847.63	▲	369.96	▲	2.12%		
	Nasdaq____	5,142.27	▲	104.74	▲	2.08%		
	S&P_500___	2,091.69	▲	42.07	▲	2.05%		
	30_Yr_Bond____	3.01	▼	-0.07	▼	-2.11%		

NYSE Volume	 4,146,745,500 	 	 	 	 	  		 
Nasdaq Volume	 1,869,551,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,238.29	▼	-36.71	▼	-0.59%		
	DAX_____	10,752.10	▼	-37.14	▼	-0.34%		
	CAC_40__	4,714.79	▼	-15.42	▼	-0.33%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,201.50	▼	-75.20	▼	-1.43%		
	Shanghai_Comp	3,524.99	▼	-59.83	▼	-1.67%		
	Taiwan_Weight	8,398.60	▼	-57.46	▼	-0.68%		
	Nikkei_225___	19,504.48	▼	-435.42	▼	-2.18%		
	Hang_Seng.__	22,235.89	▼	-181.12	▼	-0.81%		
	Strait_Times.__	2,879.05	▼	-4.84	▼	-0.17%		
	NZX_50_Index_	6,094.82	▼	-30.85	▼	-0.50%		

http://finance.yahoo.com/news/stocks-rise-solid-november-jobs-152733915.html

*Strong job gains send US stock market sharply higher*
Associated Press By MARLEY JAY

NEW YORK (AP) — The stock market surged to its biggest gain since early September Friday after another strong month of hiring by U.S. employers.

The solid news on the economy opened the way for the Federal Reserve to begin raising interest rates back toward normal levels later this month. Energy stocks and the price of crude oil fell after OPEC said it won't cut production.

Stocks started the day higher after the Labor Department said employers added 211,000 jobs in November. That was more than investors expected, and a sign that consumers are still spending and keeping the economy afloat even as manufacturing and energy companies are struggling.

The rally gained more power after European Central Bank President Mario Draghi said the ECB is ready to expand its stimulus program if necessary. That was a relief: stocks and bonds tumbled Thursday after the ECB announced some new stimulus measures, but didn't do as much as investors expected.

"His clarification of comments he made earlier in the week gives investors confidence that ECB will continue its 'whatever is necessary' course," said Erik Davidson, chief investment officer at Wells Fargo Private Bank.

The Dow Jones industrial average rose 369.96 points, or 2.1 percent, to 17,847.63. The Standard & Poor's 500 index had its best day since Sept. 8, rising 42.07 points, or 2.1 percent, to 2,091.69. The Nasdaq composite increased 104.74 points, or 2.1 percent, to 5,142.27 points.

When the Federal Reserve decided not to raise interest rates in September, investors gradually concluded that the Fed would act in December unless it received some big warning signs about the health of the economy.

Those signs never came. The September jobs report was disappointing, but hiring climbed in October, and November hiring was solid. The government also said the economy gained more jobs in September and October than it initially reported.

The Fed slashed its key short-term interest rate to near zero during the financial crisis and it kept it low throughout the Great Recession to encourage lending and hiring. It hasn't raised interest rates in nine years.

Davidson said the jobs data was as good as investors expected, which gives them more confidence in the state of the economy and the Fed's plans.

"The markets love predictability and this is about as predictable as you can get," he said. In addition to the jobs growth, Davidson said more people are looking for work and wages are improving.

Luke Bartholomew, investment manager Aberdeen Capital Management, said it was almost a foregone conclusion that the Fed will raise interest rates, but what isn't clear is what will happen after that.

"It would have taken a really catastrophically bad number to put the Fed off today," he said. "It's a question of what the path looks like next year."

Consumer discretionary stocks were the best performers in the S&P 500. Discount retailer Dollar Tree, toy maker Mattel and homebuilder D.R. Horton climbed, and Apple rose $3.83, or 3.3 percent, to $119.03, a large move for the world's most valuable company.

Energy stocks, however, took a beating, and almost all of the largest losses in the S&P 500 went to energy companies. Oil cartel OPEC said it won't cut oil production even though global stockpiles keep growing. The price of oil is trading near six-year lows.

The price of U.S. crude fell $1.11, or 2.7 percent, to $39.97 a barrel in New York. Brent crude, a benchmark for international oils, slid 84 cents, or 1.9 percent, to $43.

Meanwhile warm weather in the U.S. is hurting demand for heating fuels like natural gas and heating oil. Natural gas drillers, pipeline companies and oil and gas service companies were all pummeled.

Stephen Schork, an independent analyst and trader, said that's because weather throughout much of the U.S. remains warm, meaning Americans aren't using as much energy to heat their homes.

"The market is giving up on winter," he said. "Here in the East... there's just no demand."

Murphy Oil lost 85 cents, or 3.2 percent, to $25.46. Helmerich & Payne fell 2.23, or 4 percent, to $53.38. Southwestern Energy shed 45 cents, or 5.5 percent, to $7.74. Chesapeake Energy declined 32 cents, or 6.6 percent, to $4.55.

In other trading of energy futures, wholesale gasoline fell 2.6 cents, or 2 percent, to $1.27 a gallon. Heating oil declined 1.6 cents to $1.342 a gallon. Natural gas inched up 0.5 cents to $2.816 per 1,000 cubic feet.

The dollar regained some strength against the euro. The euro slipped to $1.0871 from $1.0975, and the dollar rose to 123.22 yen from 122.31 yen Thursday. Bond prices also bounced back, and the yield on the 10-year Treasury note fell to 2.27 percent from 2.32 percent.

Avon Products rose as multiple media reports said the beauty products company is considering selling its North American business to private equity firm Cerberus Capital Management. Avon jumped 23 cents, or 5.8 percent, to $4.22.

Gold gained $22.90, or 2.2 percent, to $1,084.10. Silver added 45 cents, or 3.2 percent, to $14.53 an ounce. Copper inched up 1.8 cents to $2.079 a pound.

3205


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-117.12	points or ▼	-0.66%	on	Monday, December 7, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,730.51	▼	-117.12	▼	-0.66%		
	Nasdaq____	5,101.81	▼	-40.46	▼	-0.79%		
	S&P_500___	2,077.07	▼	-14.62	▼	-0.70%		
	30_Yr_Bond____	2.95	▼	-0.06	▼	-1.96%		

NYSE Volume	 4,005,680,500 	 	 	 	 	  		 
Nasdaq Volume	 1,927,857,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,223.52	▼	-14.77	▼	-0.24%		
	DAX_____	10,886.09	▲	133.99	▲	1.25%		
	CAC_40__	4,756.41	▲	41.62	▲	0.88%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,205.90	▲	4.40	▲	0.08%		
	Shanghai_Comp	3,536.93	▲	11.94	▲	0.34%		
	Taiwan_Weight	8,454.27	▲	55.67	▲	0.66%		
	Nikkei_225___	19,698.15	▲	193.67	▲	0.99%		
	Hang_Seng.__	22,203.22	▼	-32.67	▼	-0.15%		
	Strait_Times.__	2,900.92	▲	21.87	▲	0.76%		
	NZX_50_Index_	6,064.43	▼	-30.39	▼	-0.50%		

http://finance.yahoo.com/news/oil-gas-companies-lead-early-152552589.html

*Oil price drops to lowest since 2009, sinking energy stocks*
Associated Press By BERNARD CONDON

NEW YORK (AP) ”” A sharp drop in the price of oil on Monday rattled investors and helped push stocks lower across several industries.

Investors sold from the start of trading following a decision by OPEC last week not to cut production. Benchmark U.S. crude dropped nearly 6 percent, deepening its stunning 1 ½ year plunge, to close at its lowest level in nearly seven years. The losses were broad, with seven of the 10 industry sectors in the Standard & Poor's 500 index closing lower.

As they have all year, oil drillers bore the brunt of the selling. Chevron and Exxon Mobil, both members of the 30-stock Dow Jones industrial average, each fell nearly 3 percent.

"There was a big hope that OPEC would announce a production cut, but it just didn't happen," said Mizuho Securities Chief Economist Steven Ricchiuto. He added: "The whole world is facing excess supply as the global economy slows."

The Dow gave up 117.12 points, or 0.7 percent, to 17,730.51. The S&P 500 fell 14.62 points, or 0.7 percent, to 2,077.07. The Nasdaq composite dropped 40.46 points, or 0.8 percent, to 5,101.81.

Airlines stocks were among the winners as investors anticipated bigger profits thanks to falling fuel costs. JetBlue Airways jumped $1.01, or 4 percent, to $26.49. Delta Air Lines also rose 4 percent, gaining $2 to close at $51.78.

In theory, lower oil prices should help many stocks because consumers often spend money elsewhere that they save at the pump or on heating bills. But investors have been disappointed.

"Retailers have been waiting for the pump-price dividend to filter into their stores, but for the most part we're not seeing it," said Jack Ablin, chief investment officer at BMO Private Bank.

Meanwhile, the shift in the U.S. to producing more oil has made the stock market more vulnerable to price swings in the commodity.

In each of the past three quarters, as oil prices have tanked, earnings per share for energy companies in the S&P 500 have dropped more than 50 percent, according to S&P Capital IQ, a financial data provider. After Monday's drop, their stocks are down 22 percent since the start of the year.

Among other stocks making big moves:

””Chipotle Mexican Grill dropped $9.45, or 1.7 percent, to $551.75. The restaurant chain warned late Friday that an outbreak of E. coli linked to its restaurants sent sales plummeting by as much as 22 percent in recent weeks.

”” Keurig Green Mountain soared 72 percent after agreeing to be acquired by a private equity firm. The stock jumped $37.19 to $88.89.

”” Office Depot plunged nearly 16 percent after regulators said they would try to block a proposed purchase of the company by rival Staples for $6.3 billion. Office Depot dropped $1.04 to $5.59. Staples fell $1.70, or nearly 14 percent, to $10.66.

”” Stocks of gun makers soared on the prospect of big sales amid a push for greater gun control following the San Bernardino shootings. Smith & Wesson Holding added $1.45, or 7.6 percent, to $20.44.

U.S. crude fell $2.32, or 5.8 percent, to close at $37.65 a barrel on the New York Mercantile Exchange, its lowest price since Feb. 2009. Brent crude, used to price international oils, fell $2.27, or 5.3 percent, to $40.73 a barrel in London.

In other energy trading in New York, wholesale gasoline fell 6.1 cents, or 4.8 percent, to close at $1.209 a gallon, heating oil lost 6.3 cents, or 4.7 percent, to close at $1.280 a gallon and natural gas fell 11.9 cents, or 5.4 percent, to $2.067 per 1,000 cubic feet.

U.S. government bond prices edged up. The yield on the 10-year Treasury note fell to 2.23 percent from 2.27 percent late Friday. The euro slipped to $1.0843 from $1.0871 and the dollar edged up to 123.33 yen from 123.22 yen.

Precious and industrial metals futures ended broadly lower. The price of gold slipped $8.90 to $1,075.20 an ounce, silver lost 20 cents to $14.33 an ounce and copper gave up three cents to $2.05 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-162.51	points or ▼	-0.92%	on	Tuesday, December 8, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,568.00	▼	-162.51	▼	-0.92%		
	Nasdaq____	5,098.24	▼	-3.57	▼	-0.07%		
	S&P_500___	2,063.59	▼	-13.48	▼	-0.65%		
	30_Yr_Bond____	2.97	▲	0.02	▲	0.81%		

NYSE Volume	 4,104,963,500 	 	 	 	 	  		 
Nasdaq Volume	 1,838,744,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,135.22	▼	-88.30	▼	-1.42%		
	DAX_____	10,673.60	▼	-212.49	▼	-1.95%		
	CAC_40__	4,681.86	▼	-74.55	▼	-1.57%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,158.00	▼	-47.90	▼	-0.92%		
	Shanghai_Comp	3,470.07	▼	-66.86	▼	-1.89%		
	Taiwan_Weight	8,343.86	▼	-110.41	▼	-1.31%		
	Nikkei_225___	19,492.60	▼	-205.55	▼	-1.04%		
	Hang_Seng.__	21,905.13	▼	-298.09	▼	-1.34%		
	Strait_Times.__	2,876.03	▼	-24.89	▼	-0.86%		
	NZX_50_Index_	6,035.00	▼	-29.43	▼	-0.49%		

http://finance.yahoo.com/news/energy-companies-lead-early-stock-153117251.html#

*Signs of weakness in China sink materials stocks; oil falls

Another drop in stocks, led by materials and energy sectors, as China's economy appears weak*
Associated Press By Bernard Condon, AP Business Writer

NEW YORK (AP) -- U.S. stocks fell for a second day on Tuesday following a wave of selling abroad on fears that a slump in commodity prices was far from over.

The selling began in Asia on disappointing trade figures from China, then spread to Europe where stock indexes in Germany, France and Britain each dropped more than 1 percent. In the U.S., stocks fell sharply in the morning, but later made back much of the losses.

Still, the selling was broad, with nine of the 10 sectors of the Standard and Poor's 500 index closing down. Suppliers of raw materials fell the most, down 1.9 percent. Energy companies dropped 1.5 percent.

A big focus for investors ”” oil ”” slid again. After dropping for 1 1/2 years, U.S. benchmark crude costs just $37.51 a barrel, near a seven-year low.

"The energy sector has done a good job grappling with mid-$40 oil, but it's tougher as you go under $40," said Doug Cote, chief market strategist at Voya Investment Management. "The energy sector is having trouble adapting."

The Dow Jones industrial average lost 162.51 points, or 0.9 percent, to 17,568. It was down 245 points earlier.

The S&P 500 gave up 13.48 points, or 0.7 percent, to 2,063.59. The Nasdaq composite slipped 3.6 points, or 0.1 percent, to 5,098.24.

In Asia, Chinese customs data showed exports from the world's second largest economy contracted 6.8 percent in November, worse than October's 3.6 percent fall. Imports dropped 8.7 percent.

Mining stocks in particular were slammed because China is a major importer of raw materials, accounting for as much as 50 percent of global demand, according to consultants PwC. Freeport-McMoran slumped 7 percent. It's down 71 percent this year.

John Manley, chief stock strategist at Wells Fargo Funds, said raw material suppliers ramped up production too much a few years ago as China stoked its economy after the global financial crisis.

"It surprised producers that China was soaking up so much," Manley said. "As China slows, and shifts to more consumer growth, these producers have been hit."

Iron ore, off 43 percent since the start of 2015, fell again Tuesday, shedding 15 cents to close at $39.25 a metric ton. Copper inched up less than a penny to $2.05 a pound. It is down 29 percent this year.

Among other stocks making big moves:

”” Outerwall plunged $14.02, or 24 percent, to $44.04 after lowering its earnings guidance and announcing the head of its movie-kiosk division, Redbox, was leaving as rentals fall.

”” Chipotle Mexican Grill fell $9.51, or 1.7 percent, to $542.24 on reports that 80 Boston College students were sickened after eating at one of the company's restaurants. The stock is down 21 percent so far in 2015 as the food chain struggles with the fallout from an E. coli outbreak linked to its restaurants. The company said it believes the Boston College cases are due to the norovirus, not E. coli.

”” Norfolk Southern fell $5.20, or 5.7 percent, to $86.32 after rejecting Canadian Pacific's latest takeover offer. Norfolk Southern has said it doubts regulators would approve the merger anyway. Canadian Pacific fell $4.47, or 2.5 percent, to $171.64.

U.S. government bond prices were flat. The yield on the 10-year Treasury note held steady at 2.23 percent. The euro edged up to $1.0897 from $1.0843 late Monday. The dollar fell to 123.02 yen from 123.33 yen.

Precious metals futures closed mixed. Gold edged up 10 cents to $1,075.30 an ounce, silver fell 22 cents to $14.12 an ounce.

Brent crude, the international benchmark, lost 47 cents, or 1.2 percent, to close at $40.26 a barrel in London.

In other trading of energy futures in New York, wholesale gasoline fell 0.6 cents to close at $1.204 a gallon, heating oil fell 2 cents to $1.259 a gallon and natural gas edged up 0.3 cent to $2.07 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-75.7	points or ▼	-0.43%	on	Wednesday, December 9, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,492.30	▼	-75.70	▼	-0.43%		
	Nasdaq____	5,022.87	▼	-75.38	▼	-1.48%		
	S&P_500___	2,047.62	▼	-15.97	▼	-0.77%		
	30_Yr_Bond____	2.96	▼	-0.02	▼	-0.54%		

NYSE Volume	 4,295,741,000 	 	 	 	 	  		 
Nasdaq Volume	 1,966,374,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,126.68	▼	-8.54	▼	-0.14%		
	DAX_____	10,592.49	▼	-81.11	▼	-0.76%		
	CAC_40__	4,637.45	▼	-44.41	▼	-0.95%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,129.90	▼	-28.10	▼	-0.54%		
	Shanghai_Comp	3,472.44	▲	2.37	▲	0.07%		
	Taiwan_Weight	8,229.62	▼	-114.24	▼	-1.37%		
	Nikkei_225___	19,301.07	▼	-191.53	▼	-0.98%		
	Hang_Seng.__	21,803.76	▼	-101.37	▼	-0.46%		
	Strait_Times.__	2,861.19	▼	-14.84	▼	-0.52%		
	NZX_50_Index_	6,053.55	▲	18.55	▲	0.31%		

http://finance.yahoo.com/news/stocks-shake-off-two-day-slump-materials-rebound-152354340.html

*Tech stocks lead a broad decline in the US market*
Associated Press By BERNARD CONDON

NEW YORK (AP) ”” A slump in technology shares on Wednesday helped turn early gains in U.S. stock indexes into losses across industries, extending the market's losing streak to a third day.
Related Stories

Investors sent the Dow Jones industrial average up 200 points in morning, then began dumping some big tech stocks. Apple fell 2.2 percent and Microsoft lost 1.5 percent.

By the end of the day, seven of the 10 industry sectors in the Standard and Poor's 500 index fell. Suppliers of raw materials, the focus of aggressive selling in recent days, rose 3.1 percent as investors hunted for bargains.

"You've got two days of massive selling of oil and commodity companies, so perhaps some are oversold," said Bryn Mawr Trust Chief Investment Officer Ernie Cecilia. He added, though, that they weren't cheap enough yet for him to join in the buying.

The Dow index lost 75.70 points, or 0.4 percent, to 17,492.30. The S&P 500 gave up 15.97 points, or 0.8 percent, to 2,047.62. The Nasdaq composite dropped 75.38 points, or 1.5 percent, to 5,022.87.

Yahoo slumped after the struggling Internet company said it would scrap a spinoff of its big stake in the Chinese e-commerce giant Alibaba. The stock lost 45 cents, or 1.3 percent, to $34.40. Yahoo said it will instead explore breaking off the rest of its business into a new company.

Some of the biggest gainers were stocks that suffered big losses the day before. Freeport McMoRan, a miner that fell 7 percent on Tuesday, rose 3.7 percent, gaining 25 cents to close at $6.99.

Helping boost raw material stocks were news reports that two giant chemical companies, Dow Chemical and DuPont, were in talks to combine. Dow Chemical rose $6.07, or 11.9 percent, to $56.97. DuPont climbed $7.89, or 11.8 percent, to $74.49.

Oil drillers, which have been beaten down recently, also rallied. Exxon Mobil and Chevron each rose 1.3 percent, despite another drop in benchmark U.S. oil.

Bill Strazzullo, chief market strategist at Bell Curve Trading, said a recent slump in oil and other major commodities is signaling that the global economy is weak. That could mean more rocky days in the market.

"You got commodities in a death spiral, and that's just not impacting the U.S., but the global economy," he said. "Investors are taking off risk."

Among other stocks making big moves Wednesday, Costco fell $9.15, or 5 percent, to $159.72 after reporting weaker earnings than analysts were expecting.

Benchmark U.S. crude slipped 35 cents to close at $37.16 a barrel in New York. Brent crude, the international standard, fell 15 cents to close at $40.11 a barrel in London. In other trading, wholesale gasoline rose 2.8 cents to close at $1.232 a gallon, heating oil fell two cents to $1.239 a gallon and natural gas fell 0.8 cent to $2.062 per 1,000 cubic feet.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.21 percent from 2.22 percent late Tuesday. The U.S. dollar fell to 121.24 yen from 123.05 yen. The euro rose to $1.1023 from $1.0890.

Previous and industrial metals futures closed broadly higher. Gold edged up $1.20 to $1,076.50 an ounce, silver rose seven cents to $14.19 an ounce and copper gained a penny to $2.07 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	82.45	points or ▲	0.47%	on	Thursday, December 10, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,574.75	▲	82.45	▲	0.47%		
	Nasdaq____	5,045.17	▲	22.31	▲	0.44%		
	S&P_500___	2,052.23	▲	4.61	▲	0.23%		
	30_Yr_Bond____	2.97	▲	0.02	▲	0.54%		

NYSE Volume	 3,676,701,250 	 	 	 	 	  		 
Nasdaq Volume	 1,710,936,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,088.05	▼	-38.63	▼	-0.63%		
	DAX_____	10,598.93	▲	6.44	▲	0.06%		
	CAC_40__	4,635.06	▼	-2.39	▼	-0.05%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,087.50	▼	-42.40	▼	-0.83%		
	Shanghai_Comp	3,455.50	▼	-16.94	▼	-0.49%		
	Taiwan_Weight	8,216.17	▼	-13.45	▼	-0.16%		
	Nikkei_225___	19,046.55	▼	-254.52	▼	-1.32%		
	Hang_Seng.__	21,704.61	▼	-99.15	▼	-0.45%		
	Strait_Times.__	2,848.46	▼	-12.73	▼	-0.44%		
	NZX_50_Index_	6,040.56	▼	-12.99	▼	-0.21%		

http://finance.yahoo.com/news/stocks-edge-higher-early-trade-energy-sector-recovers-152517099.html
*
Energy stocks, beaten down all week, help push market higher*
Associated Press By BERNARD CONDON

NEW YORK (AP) ”” Investors took a chance on some beaten-down shares on Thursday, helping the U.S. stock market to its first gain in four days.

The gain was modest, but broad, with eight of the 10 industry sectors of the Standard and Poor's 500 index ending higher. Drillers and other energy companies, down sharply in previous days, climbed 0.6 percent, much more than the rest of the market. Among individual stocks, Chevron rose nearly 2 percent.

Some suppliers of raw materials posted gains, too. Aluminum giant Alcoa and miner Freeport-McMoRan each rose 5 percent.

The climb came despite a continuing slump in the price of commodities that has been rattling markets all year. Benchmark U.S. crude oil fell to another seven-year low.

The Dow Jones industrial average climbed 82.45 points, or 0.5 percent, to 17,574.75. The S&P 500 index rose 4.61 points, or 0.2 percent, to 2,052.23. The Nasdaq composite increased 22.31 points, or 0.4 percent, to 5,045.17.

Natural gas and coal producer Consol Energy jumped 10 percent. It's still the biggest loser in the S&P 500 this year, however, down 78 percent.

In economic news, applications for unemployment benefits in the U.S. rose last week, but the number of Americans seeking aid remains close to historic lows. The report comes a week before the Federal Reserve is expected to raise interest rates for the first time in nine years. That would signal the central bank is confident the economy is strong enough to withstand higher borrowing costs.

"There is a fear over the market. China is slowing, emerging markets are slowing," said James Dunigan, chief investment strategist at PNC Wealth Management. "But if the Fed can say we're comfortable with U.S. employment and economic growth, that will be a positive."

The price of crude oil fell 40 cents, or 1 percent, to $36.76 a barrel in New York. Oil is trading at its lowest level since early 2009.

The upside to lower oil is that consumers save money at the gas pump, giving them more money to spend at stores and elsewhere. But that boost hasn't helped much yet.

"You just don't have anything to show in retail sales or consumer spending," said James Paulsen, chief investment strategist at Wells Capital Management. "Where is the stimulus from lower oil?"

Among other stocks making big moves, Men's Wearhouse plunged $3.12, or 17 percent, to $15.27 after reporting earnings per share that were half what financial analysts expected, according to FactSet. The struggling clothes chain is down 65 percent since the start of 2015.

First Solar dropped $4.50, or nearly eight percent, to $54.35 after the solar energy company released earnings and a forecast that disappointed investors.

U.S. government bond prices fell slightly. The yield on the 10-year Treasury note rose to 2.23 percent from 2.21 percent late Wednesday. The dollar rose to 121.62 yen from 121.19 yen. The euro fell to $1.0936 from $1.1028.

Precious and industrial metals futures closed mostly lower. Gold edged down $4.50 to $1,072 an ounce, silver lost eight cents to $14.11 an ounce and copper was up less than a penny at $2.07 a pound.

Brent crude, the international benchmark, fell 38 cents, or 0.9 percent, to $39.73 a barrel in London.

In other trading of energy futures in New York, wholesale gasoline rose 4.9 cents to $1.28 a gallon, heating oil lost 1.4 cents to $1.225 a gallon and natural gas fell 4.7 cents to $2.105 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-309.54	points or ▼	-1.76%	on	Friday, December 11, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,265.21	▼	-309.54	▼	-1.76%		
	Nasdaq____	4,933.47	▼	-111.71	▼	-2.21%		
	S&P_500___	2,012.37	▼	-39.86	▼	-1.94%		
	30_Yr_Bond____	2.88	▼	-0.10	▼	-3.23%		

NYSE Volume	 4,255,235,500 	 	 	 	 	  		 
Nasdaq Volume	 2,053,096,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,952.78	▼	-135.27	▼	-2.22%		
	DAX_____	10,340.06	▼	-258.87	▼	-2.44%		
	CAC_40__	4,549.56	▼	-85.50	▼	-1.84%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,078.60	▼	-8.90	▼	-0.17%		
	Shanghai_Comp	3,434.58	▼	-20.91	▼	-0.61%		
	Taiwan_Weight	8,115.89	▼	-100.28	▼	-1.22%		
	Nikkei_225___	19,230.48	▲	183.93	▲	0.97%		
	Hang_Seng.__	21,464.05	▼	-240.56	▼	-1.11%		
	Strait_Times.__	2,834.63	▼	-13.83	▼	-0.49%		
	NZX_50_Index_	6,069.94	▲	29.38	▲	0.49%		

http://finance.yahoo.com/news/stocks-drop-early-trading-oil-152004066.html

*A rout in crude oil prices hammers the stock market*
Associated Press By BERNARD CONDON

NEW YORK (AP) — A slump in oil prices sparked a global sell-off in financial markets on Friday with losses spreading from Asia to Europe to the U.S., where stocks fell sharply to cap their worst week since the summer.

The selling was broad, with all 10 sectors of the Standard and Poor's 500 index ending down. Fearful investors put their money in government bonds, especially U.S. Treasurys. Another measure of anxiety, the so-called Vix index, jumped. It is now up 70 percent in just five days.

Investors worry the sharp fall in the price of oil and other commodities is a sign of weakness in the global economy, especially China, and that will cut into profits at big energy producers and suppliers of raw materials as well as other companies.

"We're stockpiling commodities and demand is not picking up," said Tim Courtney, chief investment officer of Exencial Wealth Advisors. "It's kind of a depressing market."

Energy shares, already decimated this year, fell 3.4 percent on Friday. Southwestern Energy plunged 14 percent. Freeport McMoRan, a mining giant, dropped 6 percent.

The trouble began with a report from the International Energy Agency that said the oversupply in oil would persist until late next year even as demand continues to weaken. Benchmark U.S. crude plunged $1.14, or 3 percent, to close at $35.62 a barrel in New York. It has been falling for 1  ½ years and is now at its lowest level since early 2009.

By the end of the day, the S&P 500 index had lost 39.86 points, or 1.9 percent, to 2,012.37. It was down 3.8 percent for the week, its worst showing since August.

The Dow Jones industrial average lost 309.54 points, or 1.8 percent, to 17,265.21. The Nasdaq composite declined 111.71 points, or 2.2 percent, to 4,933.47.

In Europe, Germany's DAX lost 2.4 percent, Britain's FTSE 100 dropped 2.2 percent and France's CAC 40 shed 1.8 percent.

Investors were also rattled by trouble in a risky corner of the credit markets where bonds from heavily indebted companies are traded. Their prices have fallen sharply as investors fear the companies that issued the bonds might default. A fund that tracks the bonds, the iShares iBoxx USD High Yield Corporate Bond ETF, has dropped nearly 4 percent in five days.

Investors are also focused on a Federal Reserve meeting next week where the central bank is widely expected to announce an increase in its benchmark interest rate from a record low.

Recent economic reports indicate that the U.S. economy is healthy enough to withstand a rate hike, but investors are still nervous because it would be the first rate rise in nearly a decade.

"It's anticipation of the Fed, it's oil, it's credit ... all of these factors are putting fear and confusion into the investor," said Jonathan D. Corpina, senior managing partner at Meridian Equity Partners.

In a sign of trouble among commodity producers, Dow Chemical and DuPont on Friday announced a $130 billion deal to merge their businesses to counter falling prices. Their stocks had risen in previous days on reports the deal was forthcoming, but fell sharply on Friday.

Dow Chemical dropped $1.54, or nearly 3 percent, to $53.37. DuPont lost $4.11, or 5.5 percent, to $70.44.

In Asia, Japan's Nikkei 225 index climbed 1 percent, but most other major indexes fell. Hong Kong's Hang Seng dropped 1.1 percent and mainland China's Shanghai Composite lost 0.6 percent.

Among stocks making big moves:

— Software maker Adobe Systems rose $2.46, or 2.8 percent, to $91.42 after reporting earnings in its latest quarter that exceeded analysts' expectations. The stock is up 26 percent since the start of the year.

— Corning rose 99 cents, or 5.6 percent, to $18.68 after the company said it will give up its stake in Dow Corning, a joint venture with Dow Chemical. Instead it will invest in a semiconductor business that is owned by Dow Corning.

U.S. government bond prices rose sharply. The yield on the 10-year Treasury note fell to 2.12 percent from 2.23 percent late Thursday, a big move. The dollar fell to 120.79 yen from 121.64 yen. The euro strengthened to $1.0995 from $1.0939.

Precious and industrial metals futures closed mixed. Gold edged up $3.70 to $1,075.70 an ounce, silver fell 23 cents to $13.88 an ounce and copper rose four cents to $2.12 a pound.

In other energy futures market, Brent crude, the international oil benchmark, fell $1.80, or 4.5 percent, to $37.93 a barrel in London. In New York, heating oil plunged eight cents, or 6.5 percent, to $1.146 a gallon, wholesale gasoline was little changed at $1.282 a gallon, and natural gas lost 2.5 cents, or 1.2 percent, to $1.99 per 1,000 cubic feet.

3787


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	103.29	points or ▲	0.60%	on	Monday, December 14, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,368.50	▲	103.29	▲	0.60%		
	Nasdaq____	4,952.23	▲	18.76	▲	0.38%		
	S&P_500___	2,021.94	▲	9.57	▲	0.48%		
	30_Yr_Bond____	2.96	▲	0.08	▲	2.88%		

NYSE Volume	 4,548,816,000 	 	 	 	 	  		 
Nasdaq Volume	 2,147,859,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,874.06	▼	-78.72	▼	-1.32%		
	DAX_____	10,139.34	▼	-200.72	▼	-1.94%		
	CAC_40__	4,473.07	▼	-76.49	▼	-1.68%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,981.90	▼	-96.70	▼	-1.90%		
	Shanghai_Comp	3,520.67	▲	86.09	▲	2.51%		
	Taiwan_Weight	8,040.16	▼	-75.73	▼	-0.93%		
	Nikkei_225___	18,883.42	▼	-347.06	▼	-1.80%		
	Hang_Seng.__	21,309.85	▼	-154.20	▼	-0.72%		
	Strait_Times.__	2,815.04	▼	-19.59	▼	-0.69%		
	NZX_50_Index_	6,035.25	▼	-34.69	▼	-0.57%		

http://finance.yahoo.com/news/us-stocks-wobble-early-trade-152816747.html

*A late buying burst leaves US stocks higher after wobbly day*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” After an indecisive day, stocks turned around in the last minutes of trading Monday and managed to end with modest gains.

Last week the market had its worst drop since mid-August, and for much of the day it looked like the losses would continue. Near midday the Standard & Poor's 500 index hit a two-month low. But oil prices recovered from last week's rout and the broader market rose over the last hour of trading, finishing at its highest levels of the day.

The Dow Jones industrial average picked up 103.29 points, or 0.6 percent, to 17,358.50. The S&P 500 index gained 9.57 points, or 0.5 percent, to 2,021.94. Nine of the 10 sectors on the S&P 500 finished higher, though most of the gains were small. The Nasdaq composite index added 18.76 points, or 0.4 percent, to 4,952.23.

Early in the day the price of oil fell below $35 a barrel for the first time since early 2009. However oil recovered and rose about 2 percent, breaking a streak of six straight losses.

U.S. crude gained 69 cents at $36.31 a barrel in New York. Brent crude, a benchmark for international oils, fell a penny to $37.92 a barrel in London.

The gain sent oil companies broadly higher. Exxon Mobil rose $1.69, or 2.3 percent, to $76.03 and Chevron added $2.89, or 3.3 percent, to $89.33.

Consumer products maker Jarden Brands agreed to be acquired by competitor Newell Rubbermaid. The cash and stock deal would create a conglomerate that owns brands like Paper Mate, Sharpie, Elmer's, Rubbermaid and Calphalon.

The deal is worth at least $13.2 billion, or $60 per share. Jarden stock added $1.41, or 2.7 percent, to $54.09. Newell Rubbermaid shares fell $3.13, or 6.9 percent, to $42.15.

Natural gas prices plunged to the lowest level since September 2001 as warm weather continues to erode demand for home heating. The falling price hurt natural gas companies. Range Resources sank 89 cents, or 3.9 percent, to $21.86 and Southwestern Energy slumped 57 cents, or 9.7 percent, to $5.33.

Natural gas fell 9.6 cents, or 4.8 percent, to $1.894 per 1,000 cubic feet.

Stephen Schork, an independent analyst and trader, said industrial demand for natural gas in the U.S. and from Canada has tumbled. That means the biggest remaining source of demand is for consumers who use gas to heat their homes. But it's been a very warm winter so far.

"This weather's going to persist through the rest of this month," Schork said. However he said prices will recover if it gets colder in January.

In other energy trading, wholesale gasoline declined 2.6 cents, or 2 percent, to $1.256 a gallon and heating oil lost 1.8 cents, or 1.6 percent, to $1.128 a gallon.

Activist investor Daniel Loeb is challenging the combination of chemicals makers DuPont and Dow Chemical, announced on Friday. Loeb, who owns a stake in Dow Chemical, questioned the timing of the deal and wants Dow CEO Andrew Liveris removed. Dow's board says it stands by the proposal.

On Friday Dow and DuPont agreed to combine into a $130 billion company and then split up into three smaller businesses. Loeb has pushed Dow to split its specialty chemical and petrochemical businesses. Another activist investor, Nelson Peltz, has been pushing DuPont to break itself up.

Dow Chemical lost $2.08, or 3.9 percent, to $51.29 and DuPont slid $2.52, or 3.6 percent, to $67.92.

Mining companies and industrial materials makers slumped, with Dow and DuPont leading the way. Copper miner Freeport-McMoRan dropped as copper prices continued to slide. Freeport shares skidded 44 cents, or 6.4 percent, to $6.46.

Gold sank $12.30, or 1.1 percent, to $1,063.40 an ounce. Silver declined 18.9 cents, or 1.4 percent, to $13.70 an ounce. The price of copper fell 0.5 cents to $2.11 a pound.

The Federal Reserve will start its last meeting of the year on Tuesday, and on Wednesday it's expected to raise interest rates for the first time in almost a decade. The Fed's key short-term interest rate has been close to zero since Dec. 16, 2008. The boost in rates would be a sign of confidence in the U.S. economy, but some investors worry that it will slow down growth.

Phil Orlando, chief equity strategist for Federated Investors, said the Federal Reserve is reacting to positive signs like increased hiring and economic growth. While inflation is lower than the Fed would like, Orlando said the Fed won't wait for inflation to rise further because it will take a long time before the economy feels the full effect of higher interest rates.

"The Fed can't wait," he said. "It'll be 18 months before that change in policy hits the economy," he said.

Orlando also thinks the boost in interest rates will set off a rally that will take stocks higher for the rest of the year, possibly back to the record levels they set in May. Stocks have wobbled in recent weeks. It's been more than a month since the S&P 500 rose for two consecutive days.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.22 percent from 2.13 percent. The dollar rose to 120.87 yen from 120.77 yen Friday. The euro was unchanged at $1.0993.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	156.41	points or ▲	0.90%	on	Tuesday, December 15, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,524.91	▲	156.41	▲	0.90%		
	Nasdaq____	4,995.36	▲	43.13	▲	0.87%		
	S&P_500___	2,043.41	▲	21.47	▲	1.06%		
	30_Yr_Bond____	2.99	▲	0.03	▲	1.05%		

NYSE Volume	 4,302,359,000 	 	 	 	 	  		 
Nasdaq Volume	 2,002,016,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,017.79	▲	143.73	▲	2.45%		
	DAX_____	10,450.38	▲	311.04	▲	3.07%		
	CAC_40__	4,614.40	▲	141.33	▲	3.16%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,963.90	▼	-18.00	▼	-0.36%		
	Shanghai_Comp	3,510.35	▼	-10.31	▼	-0.29%		
	Taiwan_Weight	8,073.35	▲	33.19	▲	0.41%		
	Nikkei_225___	18,565.90	▼	-317.52	▼	-1.68%		
	Hang_Seng.__	21,274.37	▼	-35.48	▼	-0.17%		
	Strait_Times.__	2,822.18	▲	7.14	▲	0.25%		
	NZX_50_Index_	6,040.55	▲	5.30	▲	0.09%		

http://finance.yahoo.com/news/us-stocks-rise-morning-trade-market-shakes-off-152819724--finance.html

*Stocks post biggest gain in a week, led by energy and banks*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” Stocks posted their biggest gains in more than a week Tuesday, led by rising energy companies and banks.

The market was higher all day, building on a late gain the day before. The Standard & Poor's 500 index rose for the second day in a row, something that hadn't happened since early November. Energy stocks rose as the price of crude oil jumped 3 percent, and banks moved higher a day ahead of an expected rate increase by the Federal Reserve.

The Dow Jones industrial average added 156.41 points, or 0.9 percent, to 17,524.91. The S&P 500 increased 21.47 points, or 1.1 percent, to 2,043.41. The Nasdaq composite index gained 43.13 points, or 0.9 percent, to 4,995.36.

Stocks have been on a bumpy ride ever since a six-week winning streak ended in early November. They dropped sharply in mid-November, then bounced back the following week, but failed to build consistently on those gains.

Last week, a plunge in the price of oil set off a sharp drop in energy stocks, which dragged the broader market down to its second-worst weekly performance of 2015. Now with more encouraging signs on the economy, many expect the Fed to begin returning borrowing costs back toward normal levels with its first interest rate increase in nine years.

The government said early Tuesday that prices for a variety of goods and services rose last month, including plane tickets and medical care. Overall prices were unchanged from last year because food and energy prices are weak, but "core inflation," which leaves out energy and food, rose 0.2 percent. That's the best result in more than a year.

Michelle Girard, chief U.S. economist for RBS, said the reassuring signal on inflation should remove any last barriers to the Fed to raise rates. The inflation report gave the Fed "a green light to take action tomorrow," Girard said. The Fed's key short-term interest rate has been near zero for seven years.

Energy stocks were the top-performing sector as U.S. crude rose $1.04, or 2.9 percent, to $37.35 a barrel in New York. That's on top of a 2 percent gain on Monday. Oil is still down 30 percent in 2015 and is at its lowest in more than six years. Brent crude, a benchmark for international oils, rose 53 cents, or 1.4 percent, to $38.45 a barrel in London.

That helped the energy sector, which has struggled throughout 2015. Exxon Mobil had its best day since late August. Its shares jumped $3.40, or 4.5 percent, to $79.43. Offshore drillers Ensco added $1.21, or 8 percent, to $16.40 and Transocean rose 74 cents, or 5.9 percent, to $13.38.

Natural gas continued to tumble. Its price gas slid 7.2 cents, or 3.8 percent, to $1.822 per 1,000 cubic feet. That's the lowest price since March 1999, not adjusting for inflation. Industrial demand for natural gas has been weak, and the warm weather means most Americans haven't needed as much heat for their homes as they usually do this time of year.

In other energy trading, wholesale gasoline fell 1.1 cents, or 0.9 percent, to $1.2444 a gallon and heating oil rose 1.9 cents, or 1.7 percent, to $1.147 a gallon.

Bank stocks climbed as investors anticipated that higher interest rates would help banks become more profitable by charging more for loans. JPMorgan Chase rose $1.83, or 2.8 percent, to $66.10 and Wells Fargo gained $1.71, or 3.2 percent, to $54.91.

Investors dipped a toe back into the high-yield bond market after several days of selling. The iShares high yield corporate bond ETF rose $1.29, or 1.6 percent, to $80.12 and the SPDR Barclays high yield bond ETF rose 39 cents, or 1.2 percent, to $33.81.

High yield bonds have been attractive to investors in recent years because their returns are high. But investors are becoming worried that more companies could default.

Guy LeBas, chief fixed income strategist at Janney Montgomery Scott, said plunging oil prices were a big contributor to the recent decline. And he thinks more pain is coming.

"Buyers of high yield bonds will be, on average, pretty happy five years from now," he said. "But I think they're going to be pretty unhappy in the next three months."

Prices for U.S. government bonds, which are considered extremely low-risk, fell. The yield on the 10-year note rose to 2.27 percent from 2.23 percent late Monday.

Gold fell $1.80 to $1,061.60 an ounce, while silver gained 7.5 cents, or 0.5 percent, to $13.77 an ounce. Copper fell 5.5 cents, or 2.6 percent, to $2.06 per pound.

The euro fell to $1.0917 from $1.0998. The dollar rose to 121.73 yen from 120.84 yen on Monday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	224.18	points or ▲	1.28%	on	Wednesday, December 16, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,749.09	▲	224.18	▲	1.28%		
	Nasdaq____	5,071.13	▲	75.77	▲	1.52%		
	S&P_500___	2,073.07	▲	29.66	▲	1.45%		
	30_Yr_Bond____	3.00	▲	0.01	▲	0.33%		

NYSE Volume	 4,543,912,500 	 	 	 	 	  		 
Nasdaq Volume	 1,983,573,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,061.19	▲	43.40	▲	0.72%		
	DAX_____	10,469.26	▲	18.88	▲	0.18%		
	CAC_40__	4,624.67	▲	10.27	▲	0.22%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,078.70	▲	114.80	▲	2.31%		
	Shanghai_Comp	3,516.19	▲	5.83	▲	0.17%		
	Taiwan_Weight	8,184.66	▲	111.31	▲	1.38%		
	Nikkei_225___	19,049.91	▲	484.01	▲	2.61%		
	Hang_Seng.__	21,701.21	▲	426.84	▲	2.01%		
	Strait_Times.__	2,840.92	▲	25.40	▲	0.90%		
	NZX_50_Index_	6,070.94	▲	30.39	▲	0.50%		

http://www.usnews.com/news/business...continue-to-rise-before-fed-decision-on-rates

*Stocks climb after Fed raises interest rates at long last, but says it won't move too quickly*

 Associated Press Dec. 16, 2015, at 4:57 p.m.
By MARLEY JAY, AP Markets Writer

NEW YORK (AP) ”” Stocks climbed Wednesday after the Federal Reserve raised interest rates, a long-expected vote of confidence in the U.S. economy. At the same time investors were encouraged that the Fed emphasized that further increases will be gradual.

The market was slightly higher at midday and rose steadily through the afternoon after the Fed released its policy statement and as Fed Chair Janet Yellen gave a news conference explaining the Fed's decision.

The Dow Jones industrial average rose 224.18 points, or 1.3 percent, to 17,749.09. The Standard & Poor's 500 index added 29.66 points, or 1.5 percent, to 2,073.07. The Nasdaq composite gained 75.77 points, or 1.5 percent, to 5,071.13.

The market finished higher for the third day in a row, something that hadn't happened in almost two months. The S&P 500 is up 3 percent over the last three days.

The biggest gainers were sectors known for paying big dividends. Utilities surged 2.6 percent, while telecommunications and consumer goods makers rose 2 percent. Only the energy sector finished lower as the price of oil dropped and natural gas continued to fall.

Paul Christopher, head global market strategist at Wells Fargo Investment Institute, said investors think big dividend payers might pay even more out to shareholders and buy back more stock because as interest rates rise, they'll be reluctant to spend a lot of money on equipment.

The Federal Reserve raised its main interest rate by a quarter of a point, a move that was widely anticipated in the markets. That rate had been near zero for seven years.

For months the Fed has been suggesting it would raise borrowing costs from their historically low levels because the U.S. economy has improved a great deal since the financial crisis and the Great Recession. The S&P 500 has more than doubled since the Federal funds rate was cut to zero in 2008. Unemployment, which peaked at 10 percent, is now at five percent.

The Fed emphasized Wednesday that it plans to raise interest rates slowly.

Stephen Freedman, senior investment strategist at UBS Wealth Management Americas, said the Fed is "taking off the Band-Aid" because the economy has healed substantially.

"Three or four hikes next year would be, historically speaking, extremely slow and progressive," he said. "The Fed is not going to choke the economy."

The boost in interest rates lifted metals prices. The yield on the two-year Treasury note also rose to its highest level in five years.

Oil prices and energy stocks skidded after the U.S. government said oil stockpiles grew 4.8 million barrels last week. The price of oil has plunged to its lowest levels in more than six years because supplies continued to rise as the global economy struggles.

Benchmark U.S. crude dropped $1.83, or 4.9 percent, to close at $35.52 a barrel in New York. Brent crude, a benchmark for international oils, lost $1.26, or 3.3 percent, to $37.19 a barrel in London. U.S. crude had climbed over the last two days after falling beneath $35 a barrel Monday.

Pioneer Natural Resources lost $10.18, or 7 percent, to $134.40 and Devon Energy dropped $1.30, or 4.1 percent, to $30.57.

Natural gas, which has dropped to 16-year-lows, lost 3.2 cents to close at $1.79 per 1,000 cubic feet. Natural gas has been falling as traders anticipate weaker demand for home heating due to the unseasonably warm winter weather in the U.S.

The price of wholesale gasoline fell 1.2 cents to $1.233 a gallon and heating oil lost 3.5 cents, or 3 percent, to $1.112 a gallon.

Payment card processor Heartland Payments climbed after it accepted an offer from Global Payments worth $100 per share, or $4.3 billion. Heartland provides credit, debit, and prepaid card processing and security technology services nationwide. Its shares rose $9.87, or 11.6 percent, to $94.97.

The government said the pace of homebuilding increased in November on a big jump in apartment construction in the Midwest and the South. Construction of single-family houses also reached an eight-year high. The Commerce Department said Wednesday that total housing starts climbed 10.5 percent.

Shares of homebuilders rallied. Beazer Homes rose 64 cents, or 5.6 percent, to $12.13. PulteGroup added 63 cents, or 3.6 percent, to $18.02 and D.R. Horton advanced 80 cents, or 2.5 percent, to $32.26.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.30 percent. The euro edged up to $1.0970 from $1.0917 late Thursday while the dollar rose to 121.85 yen from 121.73 yen.

The price of gold rose $15.20, or 1.4 percent, to $1,076.80 an ounce and silver jumped 47.8 cents, or 3.5 percent, to $14.25 an ounce. Copper picked up 1.5 cents to $2.07 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-253.25	points or ▼	-1.43%	on	Thursday, December 17, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,495.84	▼	-253.25	▼	-1.43%		
	Nasdaq____	5,002.55	▼	-68.58	▼	-1.35%		
	S&P_500___	2,041.89	▼	-31.18	▼	-1.50%		
	30_Yr_Bond____	2.94	▼	-0.07	▼	-2.23%		

NYSE Volume	 4,249,961,000 	 	 	 	 	  		 
Nasdaq Volume	 1,841,601,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,102.54	▲	41.35	▲	0.68%		
	DAX_____	10,738.12	▲	268.86	▲	2.57%		
	CAC_40__	4,677.54	▲	52.87	▲	1.14%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,150.60	▲	71.90	▲	1.42%		
	Shanghai_Comp	3,580.00	▲	63.81	▲	1.81%		
	Taiwan_Weight	8,319.67	▲	135.01	▲	1.65%		
	Nikkei_225___	19,353.56	▲	303.65	▲	1.59%		
	Hang_Seng.__	21,872.06	▲	170.85	▲	0.79%		
	Strait_Times.__	2,861.18	▲	20.26	▲	0.71%		
	NZX_50_Index_	6,088.33	▲	17.39	▲	0.29%		

http://finance.yahoo.com/news/us-stocks-dip-early-trading-153155265.html

*Stocks slide as a late tumble erases post-Fed gains*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” Stocks skidded Thursday as a late drop erased the market's gains from the day before. Companies that sell oil, gold and silver tumbled along with the prices of those commodities.

Thursday's slide marked the end of a three-day winning streak. Indexes drifted lower in the morning and fell sharply in the final minutes of trading. Energy stocks fell as the price of oil slumped again, and lower metals prices hurt mining companies.

The Dow Jones industrial average sank 253.25 points, or 1.4 percent, to 17,495.84. The Standard & Poor's 500 lost 31.18 points, or 1.5 percent, to 2,041.89. The Nasdaq composite index gave up 68.58 points, or 1.4 percent, to 5,002.55.

Energy and mining stocks have been pummeled this year as the sluggish global economy reduces demand even as supplies become more abundant. U.S. crude fell 57 cents, or 1.6 percent, to $34.95 a barrel in New York. It had not closed beneath $35 since Feb. 18, 2009 and traded above $60 a barrel as recently as June.

Chevron lost $2.90, or 3.1 percent, to $90.54 and Marathon Oil lost $1, or 7.3 percent, to $12.78.

Natural gas, which has fallen to 16-year lows, gave up another 3.5 cents, or 2 percent, to $1.755 per 1,000 cubic feet. The price of natural gas has tumbled as demand has collapsed. Thanks to the warm weather, customers haven't needed much gas to heat their homes this winter. And demand from industrial customers has been weak.

Metals prices gave up their gains from Wednesday. The price of gold fell $27.20, or 2.5 percent, to $1,049.60 an ounce and silver sank 54.5 cents, or 3.8 percent, to $13.703 an ounce. Copper fell 2.8 cents, or 1.4 percent, to $2.044 a pound.

Among mining stocks, Newmont Mining dropped $1.47, or 7.7 percent, to $17.61 and Freeport-McMoRan lost 57 cents, or 8.5 percent, to $6.12.

Only utility stocks traded higher. Utilities have also struggled this year, but including a tiny gain Thursday, they have risen for four days in a row and are up 4 percent over that time. Utility stocks are seen as steady performers that pay regular dividends, and some investors think payments are going to increase. Duke Energy rose 47 cents to $70.50 and Ameren Corp. gained $1.03, or 2.4 percent, to $44.03.

Solar power stocks continued to rise after Congress agreed to extend a federal tax credit for commercial and residential solar projects. Leading Democrats and Republicans reportedly agreed to extend the 30-percent credit through 2019, after which it will wind down over two years. The credit was scheduled to fall in 2017 and be eliminated in 2018.

SolarCity gained $3.57, or 6.6 percent, to $57.26 and Sunrun added $1.08, or 9.3 percent, to $12.71. The stocks are up 55 percent and 62 percent this week, respectively.

"This was one of the biggest risks confronting the industry over the last year," said Angelica Jarvenpaa, research associate for Raymond James. She said solar power companies didn't know if the tax credit would be allowed to expire.

Jarvenpaa said the agreement is "among the best case scenarios" for solar power because it tells companies what they can expect for the next several years. She added that the extension will benefit the entire industry, including companies that serve homes, businesses, utilities and manufacturers of solar cells.

Shipping company FedEx said its quarterly profit grew as online shopping increased and costs in its express-delivery business came down. FedEx also said it thinks holiday shipments will rise by more than 12 percent from a year ago. FedEx rose $3.01, or 2 percent, to $151.84.

Streaming music company Pandora Media surged. A panel of copyright judges raised the amount that streaming companies like Pandora have to pay to record labels, but the increase was less than many had expected. Pandora jumped $1.82, or 13.5 percent, to $15.26.

Business software maker Oracle had its worst day in more than two years. The stock slipped after Oracle reported a smaller quarterly profit. Its revenue also fell short of analyst forecasts. The shares declined $1.98, or 5.1 percent, to $36.93.

The dollar climbed. While the Fed is raising interest rates, central banks in Europe and Japan are planning to lower them. That will make the dollar even stronger. A strong dollar hurts U.S. exporters but makes imports cheaper.

The euro dropped to $1.0805 from $1.0970. The dollar rose to 122.85 yen from 121.85 yen.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.23 percent from 2.30 percent late Wednesday.

In other energy trading, Brent crude, a benchmark for international oils, fell 33 cents, or 0.9 percent, to $37.06 a barrel in London. The price of wholesale gasoline rose 2.9 cents, or 2.3 percent, to $1.262 a gallon in New York. Heating oil slipped 0.7 cents to $1.105 a gallon.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-367.29	points or ▼	-2.10%	on	Friday, December 18, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,128.55	▼	-367.29	▼	-2.10%		
	Nasdaq____	4,923.08	▼	-79.47	▼	-1.59%		
	S&P_500___	2,005.55	▼	-36.34	▼	-1.78%		
	30_Yr_Bond____	2.91	▼	-0.03	▼	-0.89%		

NYSE Volume	 6,585,060,500 	 	 	 	 	  		 
Nasdaq Volume	 3,722,671,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,052.42	▼	-50.12	▼	-0.82%		
	DAX_____	10,608.19	▼	-129.93	▼	-1.21%		
	CAC_40__	4,625.26	▼	-52.28	▼	-1.12%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,156.50	▲	5.90	▲	0.11%		
	Shanghai_Comp	3,578.96	▼	-1.03	▼	-0.03%		
	Taiwan_Weight	8,257.32	▼	-62.35	▼	-0.75%		
	Nikkei_225___	18,986.80	▼	-366.76	▼	-1.90%		
	Hang_Seng.__	21,755.56	▼	-116.50	▼	-0.53%		
	Strait_Times.__	2,852.84	▼	-8.34	▼	-0.29%		
	NZX_50_Index_	6,107.84	▲	19.51	▲	0.32%		

http://finance.yahoo.com/news/us-stocks-keep-sliding-global-153625375.html

*US stocks tumble on global worries; financial stocks skid*
Associated Press By MARLEY JAY

NEW YORK (AP) — Stocks plunged across all sectors in the heaviest trading of the year Friday as enthusiasm over a long-awaited increase in U.S. interest rates faded.

Several other negative factors combined to give the market its second big loss in a row, bringing the indexes lower for the week.

Bank stocks, which investors had bid up in hopes they would become more profitable as loan rates climbed, fell the most. Technology shares suffered more declines as a bad December got worse for Apple. The world's most valuable publicly traded company sank again, bringing its monthly loss to 10 percent.

Overseas, Japan's market sank after that country's central bank made changes to a stimulus program that fell short of what investors were hoping for. Another drop in energy prices sent oil stocks lower again, and worries about weak global growth weighed on shipping and other transportation companies.

The Dow Jones industrial average dropped 367.29 points, or 2.1 percent, to 17,128.55. The S&P 500 index fell 36.34 points, or 1.8 percent, to 2,005.55. The Nasdaq composite sank 79.47 points, or 1.6 percent, to 4,923.08. All 10 Standard & Poor's 500 sectors fell.

U.S. stock trading was even more volatile than usual Friday because of the simultaneous expiration of several kinds of futures and other contracts that investors use to place bets on indexes and individual stocks. As a result Friday was the busiest trading day of the year for stocks.

The market ended a tumultuous week slightly lower. Stocks had rallied over the first three days and jumped Wednesday after the Federal Reserve raised interest rates for the first time in almost a decade. The move was a vote of confidence in the U.S. economy. But over the next two days stocks were hit by some of the worries that have dogged them all year, like weakness in the Chinese economy, slowing global growth, and skidding prices for energy and metals.

While the Bank of Japan plans to spend a bit more on exchange-traded funds for companies that increase hiring and investment, investors were hoping for more, according to Ryan Larson, head of U.S. equity trading for RBC Global Asset Management.

"They were looking for more, and when the market's disappointed, this is what you get," he said.

The global market went into a similar slide two weeks ago, when the European Central Bank ramped up its stimulus efforts but didn't do nearly as much as expected. Stocks rallied after ECB President Mario Draghi said the bank is ready to expand its stimulus program further if needed.

Those slumps show that investors will continue keeping an eye on the words and deeds of central banks in struggling Europe and Japan as well as the U.S. for the foreseeable future.

The Federal Reserve had kept interest rates near zero for seven years. Fed Chair Janet Yellen emphasized that despite the boost, interest rates will remain low for some time. That pleased investors overall, but it eventually put pressure on bank stocks. Banks will benefit from higher interest rates and have and have rallied over the last few months, but the initial benefits won't be great.

Goldman Sachs dropped $7.12, or 3.9 percent, to $175.49 and ETrade Financial lost $1.13, or 3.8 percent, to $28.82. Citigroup gave up $1.63, or 3.1 percent, to $51.21.

Tech stocks also slumped. Apple fell $2.95, or 2.7 percent, to $106.03. The stock has fallen 10 percent in December and has risen only three days this month. Microsoft fell $1.57, or 2.8 percent, to $54.13.

Transportation stocks also fell. Shares of J.B. Hunt Transportation surrendered $1.96, or 2.7 percent, to $70.62 and Ryder System lost $2.59, or 4.6 percent, to $54.08.

Used car dealership chain CarMax disclosed disappointing quarterly results, as its profit and sales both fell short of analyst projections. Its stock lost $3.66, or 6.4 percent, to $53.49.

The news wasn't all bad. Darden Restaurants, the owner of Olive Garden and other chains, climbed after the company raised its outlook for the year. Olive Garden sales rose and the company's profit was better than analysts were expecting. The stock added $4.11, or 7 percent, to $62.50.

U.S. crude fell 22 cents to $34.73 a barrel in New York. Oil is trading at its lowest level in almost seven years and has slumped over the last two days. Brent crude, a benchmark for international oils, slipped 18 cents to $36.88 a barrel in London. Natural gas, which has sunk to 16-year lows as demand fell, picked up 1.2 cents to $1.767 per 1,000 cubic feet.

Offshore oil drilling companies skidded. Transocean gave up 74 cents, or 5.7 percent, to $12.26 while Ensco lost $1.08, or 7 percent, to $14.31 and Diamond Offshore Drilling dipped 70 cents, or 3.3 percent, to$20.47.

Wholesale gasoline rose 1.3 cents to $1.275 a gallon and heating oil inched up to $1.107 a gallon.

Metals prices also rose Friday. The price of gold edged up $15.40, or 1.5 percent, to $1,065 per ounce and silver added 39.3 cents, or 2.9 percent, to $14.096 an ounce. Copper rose 6.9 cents, or 3.4 percent, to $2.113 a pound.

U.S. government bond prices rose. The yield on 10-year Treasury note fell to 2.21 percent from 2.23 percent. The euro rose to $1.0863 from $1.0805. The dollar dipped to 121.25 yen from 122.85 yen. The dollar had climbed Thursday and is expected to gain strength as the Fed raises interest rates while central banks in Europe and Japan reduce interest rates.

4348


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	123.07	points or ▲	0.72%	on	Monday, December 21, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,251.62	▲	123.07	▲	0.72%		
	Nasdaq____	4,968.92	▲	45.84	▲	0.93%		
	S&P_500___	2,021.15	▲	15.60	▲	0.78%		
	30_Yr_Bond____	2.93	▲	0.02	▲	0.55%		

NYSE Volume	 3,685,404,250 	 	 	 	 	  		 
Nasdaq Volume	 1,626,678,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,034.84	▼	-17.58	▼	-0.29%		
	DAX_____	10,497.77	▼	-110.42	▼	-1.04%		
	CAC_40__	4,565.17	▼	-60.09	▼	-1.30%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,157.80	▲	1.30	▲	0.03%		
	Shanghai_Comp	3,642.47	▲	63.51	▲	1.77%		
	Taiwan_Weight	8,282.17	▲	24.85	▲	0.30%		
	Nikkei_225___	18,916.02	▼	-70.78	▼	-0.37%		
	Hang_Seng.__	21,791.68	▲	36.12	▲	0.17%		
	Strait_Times.__	2,845.55	▼	-7.29	▼	-0.26%		
	NZX_50_Index_	6,120.82	▲	12.98	▲	0.21%		

http://finance.yahoo.com/news/us-stocks-rise-moderately-light-150842747.html

*US stocks post modest gain in light trading

US stocks recover some of last week's losses in light trade; oil stocks fall as oil drops*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks posted moderate gains in a quiet trading day Monday, recovering part of their losses sustained late last week. Energy stocks continued to be a drag on the market, as the price of oil fell once again.

The Dow Jones industrial average added 123.07 points, or 0.7 percent, to 17,251.62. The Standard & Poor's 500 index rose 15.60 points, or 0.8 percent, to 2,021.15 and the Nasdaq composite rose 45.84 points, or 0.9 percent, to 4,968.92.

Investors are still working through the market impact of the Federal Reserve's decision last week to raise interest rates for the first time in nearly a decade. Markets rose in response to the Fed finally ending the uncertainty around its decision last Wednesday, but then fell sharply later in the week when traders sold shares to book profits. The Dow dropped 2.1 percent Friday.

Monday's buying was partly a recovery from last week's drop, a common response to a sharp sell-off.

Crude oil continued to decline, however, nearing levels not seen since the financial crisis. Crude oil fell 25 cents, or 0.7 percent, to $35.81 a barrel. Brent crude, which is used to price international oils, was down 53 cents, or 1.4 percent, to $36.35 a barrel.

Energy stocks struggled as a result, making it the worst performing sector in the S&P 500. Newfield Exploration fell $1.19, or 4 percent, to $30.41. ConocoPhillips fell 83 cents, or 2 percent, to $45.10.

Trading volume tends to decrease on Wall Street during the last two weeks of the year, as many investors begin to close their books and go away for the holidays. Markets are closed for the next two Fridays for holidays, and trading closes early on Thursday for Christmas Eve. There is also little in the way of market-moving economic data or company news expected.

"Today's calendar is relatively light, and with liquidity getting thinner over the course of the week, the potential for exaggerated moves is very real," said Chris Beauchamp, senior market analyst at IG. "The default direction is still likely to be up, given past performance."

In other energy trading, heating oil fell a penny to $1.13 a gallon, wholesale gasoline fell five cents to $1.22 a gallon and natural gas jumped 14 cents to $1.91 per 1,000 cubic feet.

The yield on the 10-year U.S. Treasury note fell to 2.19 percent from 2.21 percent on Friday. The dollar fell against the euro to $1.09 while the dollar was mostly unchanged against the yen at $121.19.

In metals, gold rose $15.60 to $1,080.60 a troy ounce, silver rose 22 cents to $14.31 a troy ounce and copper rose three cents to $2.14 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	165.65	points or ▲	0.96%	on	Tuesday, December 22, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,417.27	▲	165.65	▲	0.96%		
	Nasdaq____	5,001.11	▲	32.19	▲	0.65%		
	S&P_500___	2,038.97	▲	17.82	▲	0.88%		
	30_Yr_Bond____	2.96	▲	0.04	▲	1.30%		

NYSE Volume	 3,462,061,750 	 	 	 	 	  		 
Nasdaq Volume	 1,519,035,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,083.10	▲	48.26	▲	0.80%		
	DAX_____	10,488.75	▼	-9.02	▼	-0.09%		
	CAC_40__	4,567.60	▲	2.43	▲	0.05%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,167.70	▲	9.90	▲	0.19%		
	Shanghai_Comp	3,651.77	▲	9.30	▲	0.26%		
	Taiwan_Weight	8,292.74	▲	10.57	▲	0.13%		
	Nikkei_225___	18,886.70	▼	-29.32	▼	-0.16%		
	Hang_Seng.__	21,830.02	▲	38.34	▲	0.18%		
	Strait_Times.__	2,848.59	▲	3.04	▲	0.11%		
	NZX_50_Index_	6,147.97	▲	27.15	▲	0.44%		

http://finance.yahoo.com/news/us-stocks-slightly-higher-price-151716555.html#

*US stocks move higher as the price of crude oil stabilizes*
Associated Press By KEN SWEET

NEW YORK (AP) ”” Stocks rose for a second day on Tuesday, helped by a stabilization in crude oil prices. Chipotle Mexican Grill fell on more worries about the safety of its food.

The Dow Jones industrial average rose 165.65 points, or 1 percent, to 17,417.27. The Standard & Poor's 500 index rose 17.82 points, or 0.9 percent, to 2,038.97 and the Nasdaq composite rose 32.19 points, or 0.7 percent, to 5,001.11.

It was another light day of trading. Many investors have closed their portfolios for the year or are on vacation for the Christmas and New Year's holidays. However, a modest recovery in oil prices did help lift energy and materials stocks.

"Investors are either done for the year or are setting up their portfolios for 2016, buying this year's winners or doing reallocation to their portfolios," said J.J. Kinahan, chief strategist at TD Ameritrade.

Chipotle Mexican Grill fell $27.40, or 5 percent, to $494.61 after the fast food chain disclosed additional cases of E. coli had occurred at its restaurants.

U.S. crude oil futures closed up 33 cents to $36.14 a barrel on the New York Mercantile Exchange. Brent crude, which is used to price international oils, was down 24 cents to $36.11 a barrel in London. Energy stocks were among the bigger gainers Tuesday, with the energy sector of the S&P 500 index up 1.2 percent. Mining and materials stocks were also up.

Diamond Offshore rose $1.13, or 5.6 percent, to $21.43. Drilling rig operator Transocean rose 43 cents, or 4 percent, to $12.55.

Markets are searching for direction as the flow of economic data slows dramatically until after the New Year. Investors have already had plenty of time to digest this month's major decisions by the Federal Reserve to raise rates and by the European Central Bank to increase its stimulus efforts.

Most investors expect stocks and bonds to trade in a narrow range until January.

"We need a catalyst, and look to the week of the employment report to be that catalyst, but that is still two weeks away," John Briggs, head of American fixed income strategy at RBS, wrote in a note to investors.

In other energy trading, heating oil fell 1.3 cents to $1.088 a gallon, wholesale gasoline fell 3.5 cents to $1.175 a gallon and natural gas fell 1.3 cents to $1.888 per thousand cubic feet.

The euro rose to $1.0952 from $1.0926 a day earlier. The dollar was unchanged against the Japanese yen at 121.04. The yield on the 10-year U.S. Treasury note rose to 2.24 percent from 2.19 percent the day before.

In metals trading, gold fell $6.50 to $1,074.10 a troy ounce, silver was unchanged at $14.31 an ounce and copper fell three cents to $2.109 a pound.


----------



## bigdog

*MERRY XMAS AND A HAPPY NEW YEAR TO ALL*

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	185.34	points or ▲	1.06%	on	Wednesday, December 23, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,602.61	▲	185.34	▲	1.06%		
	Nasdaq____	5,045.93	▲	44.82	▲	0.90%		
	S&P_500___	2,064.29	▲	25.32	▲	1.24%		
	30_Yr_Bond____	3.00	▲	0.03	▲	1.15%		

NYSE Volume	 3,421,366,500 	 	 	 	 	  		 
Nasdaq Volume	 1,552,371,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,240.98	▲	157.88	▲	2.60%		
	DAX_____	10,727.64	▲	238.89	▲	2.28%		
	CAC_40__	4,674.53	▲	106.93	▲	2.34%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,193.50	▲	25.80	▲	0.50%		
	Shanghai_Comp	3,636.09	▼	-15.68	▼	-0.43%		
	Taiwan_Weight	8,315.70	▲	22.96	▲	0.28%		
	Nikkei_225___	18,886.70	▼	-29.32	▼	-0.16%		
	Hang_Seng.__	22,040.59	▲	210.57	▲	0.96%		
	Strait_Times.__	2,863.65	▲	10.68	▲	0.37%		
	NZX_50_Index_	6,195.34	▲	47.37	▲	0.77%		

http://finance.yahoo.com/news/energy-stocks-lead-early-market-gain-oil-price-152504332--finance.html
*
Energy stocks lead a market gain as oil price climbs*
Associated Press By KEN SWEET

NEW YORK (AP) — Stocks advanced for a third straight day on Wednesday, once again helped by higher oil prices, which lifted shares in oil and gas companies.

Trading was light as Wall Street and the rest of the country heads into Christmas and the New Year. U.S. markets will be open for only a half day on Thursday.

The Dow Jones industrial average rose 185.34 points, or 1.1 percent, to 17,602.61. The Standard & Poor's 500 index rose 25.32 points, or 1.2 percent, to 2,064.29 and the Nasdaq composite rose 44.82 points, or 0.9 percent, to 5,045.93.

With the gains in the last three days, U.S. markets have recovered most of the losses incurred late last week. The S&P 500 is back in the black for 2015, albeit slightly.

Investors took their cues from the energy markets once again. Oil prices rose for a third day, bouncing back from lows hit earlier in the week, which helped lift the battered energy sector. U.S. crude futures jumped $1.36, or 3.8 percent, to $37.50 a barrel on the New York Mercantile Exchange. Brent crude, which is used to price international oils, added $1.25, or 3.5 percent, to $37.36 a barrel in London.

"The market lately has been ruled pretty clearly by oil in particular, and more broadly, commodity prices. Now we seem to have some stability in oil, copper and other metals that's helping the market," said Scott Wren, senior global equity strategist at the Wells Fargo Investment Institute.

Oil and gas prices rose sharply, easily beating out other sectors in the market. Among individual stocks, Murphy Oil rose $1.31, or 6 percent, to $23.62, ConocoPhillips rose $2.75, or 6 percent as well, to $49.03 and Halliburton added $1.43, or 4.2 percent, to $35.45. Overall, the S&P 500 energy sector is up 5.6 percent this week alone. For the year it's still down 21 percent, the most in the S&P 500.

In other trading, Nike fell $3.14, or 2.4 percent, to $128.71, after the company reported revenue that fell short of analysts' forecasts. Nike is still the biggest winner in the Dow average this year with a gain of 34 percent.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.26 percent. The dollar slipped to 120.88 yen from 121.04 yen a day earlier. The euro edged lower to $1.0912 from $1.0952.

In other energy commodities, heating oil rose 3.2 cents to $1.119 a gallon, wholesale gasoline rose 6.7 cents, or 6 percent, to $1.241 a gallon and natural gas rose 9.5 cents, or 5 percent, to $1.983 per thousand cubic feet.

Precious and industrial metals prices ended mixed. Gold fell $5.80 to $1,068.30 an ounce, silver slipped 3 cents to $14.29 an ounce and copper edged up two cents to $2.12 a pound.

==========================================================================
http://finance.yahoo.com/news/2015-market-winners-losers-tech-191516725.html

*2015 market winners, losers: Tech soars, old guard stumbles

Netflix and Amazon are 2015's biggest gainers, energy companies crowd list of biggest losers*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- In a flat year overall for stocks, there was still plenty of excitement to be enjoyed — or endured — by 2015's biggest winners and losers.

It was a year to make old guard companies shudder.

New media companies like Netflix, which rose 142 percent to notch the biggest gain in the S&P 500, became more valuable than established media companies like CBS. Amazon eviscerated traditional retailers like Macy's and Walmart. And energy and materials companies were flattened by weak demand at a time of abundant supplies. The biggest loser was Chesapeake Energy, down almost 80 percent in 2015.

The Dow Jones industrial average, dominated by long-established companies in traditional industries, is down 1.2 percent for the year through Wednesday. The Nasdaq composite, with its heavy concentration of technology companies, is up a respectable 6.5 percent.

Here are the stories behind some of the stock markets biggest winners and losers for 2015.

*ANOTHER STAR TURN FOR NETFLIX*
Netflix has enjoyed top billing before: it was the biggest gainer in the S&P 500 in 2010 and 2013, and it more than tripled in value both years.

But another big year in 2015 pushed the company's value past established media rivals like CBS and made it about the same as Time Warner. The streaming entertainment service had 69 million subscribers at the end of the third quarter, and almost a quarter of those signed up in the last year. Netflix also continued to win fans for shows like "Orange is the New Black" and "Narcos." The company says its service will be available in 200 countries by the end of the year.
*
AMAZONIAN PROPORTIONS*
E-commerce giant Amazon celebrated its 20th anniversary with results that sent investors into a buying frenzy. Amazon was the second biggest gainer in the S&P 500 for the year, up 114 percent through Wednesday. The company is on track to report more than $100 billion in revenue in 2015 and it has started to turn in higher profits more frequently despite a loss in the first quarter.

Its stock surge pushed the company's market value past that of longtime competitor Wal-Mart. Wal-Mart stock fell 29 percent in 2015, which made this Wal-Mart's worst year since 1974, when it had fewer than 100 stores. Wal-Mart was the Dow's biggest loser.

"This year seemed to mark an inflection point for Amazon," wrote Christine Short, an analyst at Estimize, who said Amazon was "almost solely responsible for the downfall of big box giant Wal-Mart."

Macy's and Staples also were among the 20 biggest losers as fewer shoppers trekked to stores and bought more goods online instead.

Amazon is now in a battle with the other high-flying stock of 2015: Amazon and Netflix are rivals in creating original entertainment for subscribers. This year the two snagged almost 50 Primetime Emmy nominations between them. Netflix shows received far more nominations but Amazon's shows won five Emmys to Netflix's four.

*WARCRAFT GETS A CANDY CRUSH*
The third biggest gainer in the S&P 500 was Activision Blizzard, the video game maker behind "Call of Duty" and "World of Warcraft." It rose 93 percent as it moved to expand into the sweeter side of games. In November the company agreed to buy King Entertainment, the maker of the smartphone hit "Candy Crush Saga," to strengthen its mobile games business. It is also working on a "World of Warcraft" movie and a TV show adapted from its kid-focused "Skylanders" game.

The rest of the top ten winners in the index were a mix of companies representing several industries, including the video graphics chip maker NVIDIA, the payments processor Total System Services, the website domain name company VeriSign, and Spam maker Hormel Foods. First Solar also made the top 10, getting a major boost when Congress extended tax breaks for solar installations in December.

*THE BIGGEST LOSERS*
Six of the 10 biggest losers in the S&P 500 were energy companies, led by Chesapeake Energy, Southwestern Energy and Consol Energy. All three are dependent on the price of natural gas and all fell between 75 percent and 80 percent this year. Nine energy companies in the index lost at least half their value.

A big reason: Mother Nature. An extraordinarily warm fall and early winter in the U.S. is slashing demand for heating, and half the nation uses natural gas to heat their homes. Natural gas supplies were already high coming into the winter. That combined with low demand pushed natural gas prices to their lowest levels since 1999 in mid-December.

The rout in crude oil prices that began in mid-2014 deepened in 2015, pulling down the value of oil company shares and the performance of the overall stock market.

All this pain for energy companies is good for consumers, who are now enjoying low prices for gasoline and shrinking heating bills.

There were four non-energy losers in the S&P's bottom 10.

— Mining company Freeport-McMoRan fell 68 percent, hurt by slowing economic growth in China that reduced demand for raw materials.

— Watchmaker Fossil Group lost nearly two-thirds of its value as fitness trackers grew more popular and the Apple Watch was launched.

— Chipmaker Micron Technology fell 59 percent as consumers continued to turn away from personal computers.

— Casino operator Wynn Resorts fell 54 percent because a corruption crackdown in China has dampened the enthusiasm of high-rolling gamblers in Macau, an important location for Wynn.


----------



## Joe Blow

bigdog said:


> *MERRY XMAS AND A HAPPY NEW YEAR TO ALL*




Merry Christmas bigdog! I hope you and your loved ones enjoy a relaxing Christmas break.

Thank you again for providing the ASF community with your daily U.S. market updates. Your efforts are sincerely appreciated.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-50.44	points or ▼	-0.29%	on	Thursday, December 24, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,552.17	▼	-50.44	▼	-0.29%		
	Nasdaq____	5,048.49	▲	2.56	▲	0.05%		
	S&P_500___	2,060.99	▼	-3.30	▼	-0.16%		
	30_Yr_Bond____	2.96	▼	-0.03	▼	-1.13%		

NYSE Volume	 1,402,775,000 	 	 	 	 	  		 
Nasdaq Volume	 695,613,440 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,254.64	▲	13.66	▲	0.22%		
	DAX_____	10,727.64	▲	238.89	▲	2.28%		
	CAC_40__	4,663.18	▼	-11.35	▼	-0.24%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,256.10	▲	62.60	▲	1.21%		
	Shanghai_Comp	3,612.49	▼	-23.60	▼	-0.65%		
	Taiwan_Weight	8,324.36	▲	8.66	▲	0.10%		
	Nikkei_225___	18,789.69	▼	-97.01	▼	-0.51%		
	Hang_Seng.__	22,138.13	▲	97.54	▲	0.44%		
	Strait_Times.__	2,877.62	▲	13.97	▲	0.49%		
	NZX_50_Index_	6,225.53	▲	30.19	▲	0.49%		

http://finance.yahoo.com/news/us-stocks-waver-thin-trading-150321278.html

*US stocks drift to a mixed close in quiet pre-holiday trade

US stocks end little changed in a quiet, holiday-shortened trading day*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks closed slightly lower in extremely light trading Thursday as investors remained on the sidelines ahead of Christmas. The price of crude oil continued to recover.

The Dow Jones industrial average fell 50.44 points, or 0.3 percent, to 17,552.17. The Standard & Poor's 500 index fell 3.30 points, or 0.2 percent, to 2,060.99 and the Nasdaq composite rose 2.56 points, less than 0.1 percent, to 5,048.49.

Christmas Eve is almost always the quietest trading day of the year, and this year was no exception. Roughly 1.4 billion shares changed hands on the New York Stock Exchange, a third of what's typical and the lowest volume since Christmas Eve 2013.

U.S. and European markets will remain closed Friday in observance of Christmas.

While stocks were slightly lower Thursday, U.S. markets had a solid week. The S&P 500 rose nearly 3 percent and is back into positive territory for the year, albeit barely. It is not uncommon for stocks to rally into the end of the year, as investors close their books and reposition themselves for the next year.

"The Santa Claus rally got an early start," said Quincy Krosby, a market strategist with Prudential Financial, referring to the gains that historically happen between Christmas and New Year's Day. "If we can hold onto this, we will be setting up for a good January."

Oil prices continued to recover from lows earlier in the week. U.S. crude futures gained 60 cents to close at $38.10 a barrel on the New York Mercantile Exchange. Brent crude, which is used to price international oils, rose 53 cents to close at $37.89 a barrel in London.

Energy stocks didn't benefit from oil's climb. The energy component of the S&P 500 index fell 0.9 percent, the most of the 10 industry sectors in the S&P 500 index.

In other company news, bond insurer MBIA rose 51 cents, or 8 percent, to $6.75 after Puerto Rico's struggling electric power company reached a deal with its creditors. MBIA insured the bonds issued by the Puerto Rico Electric Power Authority.

The dollar edged lower to 120.28 yen from 120.88 yen a day earlier. The euro rose slightly to $1.0964 from $1.0912.

Bond prices rose slightly. The yield on the 10-year U.S. Treasury note fell to 2.24 percent from 2.25 percent a day earlier.

In other energy markets, heating oil fell 1.8 cents to close at $1.101 a gallon, wholesale gasoline rose 2.3 cents to $1.264 a gallon and natural gas rose 4.6 cents to $2.029 per 1,000 cubic feet.

In the metals markets, gold rose $7.60 to $1,075.90 an ounce, silver rose nine cents to $14.38 an ounce and copper was unchanged at $2.12 a pound.

4928


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-23.9	points or ▼	-0.14%	on	Monday, December 28, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,528.27	▼	-23.90	▼	-0.14%		
	Nasdaq____	5,040.99	▼	-7.51	▼	-0.15%		
	S&P_500___	2,056.50	▼	-4.49	▼	-0.22%		
	30_Yr_Bond____	2.94	▼	-0.02	▼	-0.81%		

NYSE Volume	 2,463,095,250 	 	 	 	 	  		 
Nasdaq Volume	 1,291,898,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,254.64	▲	13.66	▲	0.22%	HOLIDAY MONDAY DECEMBER 26	
	DAX_____	10,653.91	▼	-73.73	▼	-0.69%		
	CAC_40__	4,617.95	▼	-45.23	▼	-0.97%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,256.10	▲	62.60	▲	1.21%	HOLIDAY MONDAY DECEMBER 26		
	Shanghai_Comp	3,533.78	▼	-94.13	▼	-2.59%		
	Taiwan_Weight	8,358.49	▼	-4.79	▼	-0.06%		
	Nikkei_225___	18,873.35	▲	104.29	▲	0.56%		
	Hang_Seng.__	21,919.62	▼	-218.51	▼	-0.99%		
	Strait_Times.__	2,875.32	▼	-2.30	▼	-0.08%		
	NZX_50_Index_	6,225.53	▲	30.19	▲	0.49%	HOLIDAY MONDAY DECEMBER 26		

http://finance.yahoo.com/news/energ...y-decline-wall-street-151546484--finance.html

*Energy, mining stocks lead a decline on Wall Street*
Associated Press By ALEX VEIGA

U.S. stocks closed modestly lower on Monday as a deepening slump in crude oil prices pulled down energy and mining stocks on a lighter than usual day of trading.

Chevron fell 1.8 percent, the most in the Dow Jones industrial average. Consol Energy sank 9 percent.

After recovering a bit last week, U.S. crude oil fell 3 percent amid reports that Iran intends to increase exports by 500,000 barrels per day once economic sanctions are removed. That would only add to excess global supplies that have helped depress oil prices.

Investors worry that falling oil prices could be a signal of further economic weakness ahead, said Paul Christopher, head global market strategist at Wells Fargo Investment Institute.

"We don't think that's the case, but we think that's what's weighing on the market today," Christopher said.

The Dow lost 23.90 points, or 0.1 percent, to 17,528.27. The Standard & Poor's 500 index fell 4.49 points, or 0.2 percent, to 2,056.50. The Nasdaq composite shed 7.51 points, or 0.2 percent, to 5,040.99.

With less than a week to go in 2015, the Dow is down 1.7 percent for the year, while the S&P 500 is essentially flat with a loss of 0.1 percent. The Nasdaq is up 6.4 percent for the year.

The three major indexes were headed lower from the start of regular trading on Monday and didn't shift out of negative territory the rest of the day.

Energy and mining companies felt the brunt of the sell-off.

Chevron fell $1.69 to $90.36, while Exxon Mobil lost 59 cents, or 0.7 percent, to $78.74. Consol Energy tumbled 78 cents to $7.87, while Chesapeake Energy slid 38 cents, or 8.5 percent, to $4.07.

Mining company Freeport-McMoRan sank 9.5 percent following news that James R. Moffett, the company's executive chairman and co-founder, is stepping down. Plunging commodity prices have led to mass layoffs across the entire industry. The move follows the recent revelation that activist investor Carl Icahn has taken a huge stake in the company. The stock shed 72 cents to $6.85.
U.S. stocks edge lower as oil slides below $37 per … Play video
U.S. stocks edge lower as oil slides below $37 per&nbsp;&hellip;

Six of the 10 sectors in the S&P 500 index moved lower. Energy stocks fell the most, 1.8 percent. The sector is down 23.2 percent this year. Consumer discretionary stocks fared the best, gaining 0.3 percent. That sector is the best performer so far this year, up 9.1 percent.

Trading volume was lighter than usual following the Christmas holiday weekend. That's likely to be the case this week as well ahead of the New Year's Day holiday, said David Schiegoleit, managing director of investments at the Private Client Reserve at U.S. Bank.

"We could see heightened volatility given the low volume, but I don't see anything fundamental happening between now and the end of the year that could drive prices in either direction," Schiegoleit said.

Benchmark U.S. crude shed $1.29, or 3.4 percent, to close at $36.81 per barrel on the New York Mercantile Exchange. Brent crude, which is used to price international oils, lost $1.27, or 3.4 percent, to close at $36.62 per barrel in London.

Among other energy futures trading, wholesale gasoline fell 0.3 cents to close at $1.233 a gallon, heating oil fell 1 cent to close at $1.09 a gallon and natural gas rose 20 cents to close at $2.228 per 1,000 cubic feet.

Major stock indexes in Europe also ended lower on Monday. Germany's DAX fell 0.7 percent, while France's CAC 40 was off 1 percent.

Trading in Asian markets was mixed. Japan's Nikkei added 0.6 percent, while the Shanghai Composite Index lost 2.6 percent. Hong Kong's Hang Seng slipped 1 percent. The London Stock Exchange remained closed for the holiday break.

Precious and industrial metals prices ended broadly lower. Gold slipped $7.60 to $1,068.30 an ounce, silver dropped 50 cents to $13.88 an ounce and copper fell five cents to $2.08 a pound.

Bond prices rose. The yield on the 10-year U.S. Treasury note fell to 2.23 percent from 2.25 percent. The dollar slipped to 120.36 yen while the euro fell to $1.0971.

Among other stocks making big moves Monday:

”” Valeant Pharmaceuticals lost 10.5 percent after the company announced that CEO J. Michael Pearson is taking a medical leave of absence. Pearson was hospitalized with pneumonia last week. Three executives will take over for Pearson during his absence. The company's stock fell $11.97 to $102.14.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	192.71	points or ▲	1.10%	on	Tuesday, December 29, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,720.98	▲	192.71	▲	1.10%		
	Nasdaq____	5,107.94	▲	66.95	▲	1.33%		
	S&P_500___	2,078.36	▲	21.86	▲	1.06%		
	30_Yr_Bond____	3.04	▲	0.10	▲	3.44%		

NYSE Volume	 2,508,449,750 	 	 	 	 	  		 
Nasdaq Volume	 1,356,288,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,314.57	▲	59.93	▲	0.96%		
	DAX_____	10,860.14	▲	206.23	▲	1.94%		
	CAC_40__	4,701.36	▲	83.41	▲	1.81%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,315.60	▲	59.50	▲	1.13%		
	Shanghai_Comp	3,563.74	▲	29.96	▲	0.85%		
	Taiwan_Weight	8,293.91	▼	-64.58	▼	-0.77%		
	Nikkei_225___	18,982.23	▲	108.88	▲	0.58%		
	Hang_Seng.__	21,999.62	▲	80.00	▲	0.36%		
	Strait_Times.__	2,888.22	▲	12.90	▲	0.45%		
	NZX_50_Index_	6,292.44	▲	66.91	▲	1.07%		

http://finance.yahoo.com/news/us-stocks-gain-led-energy-151225806.html#

*Stocks rebound as US confidence improves and oil price rises*
Associated Press By ALEX VEIGA

Technology and health care companies led a broad rally in U.S. stocks Tuesday that pulled the Standard & Poor's 500 index back into the black for the year.

The gains erased the market's losses over the previous two days, when worries over falling oil and other commodities prices dragged down stocks. That trend snapped on Tuesday as the price of U.S. crude oil rebounded with a 2.9 percent gain.

Investors also drew encouragement from better-than-expected data on consumer confidence and housing.

"Both of those set us up nicely on a low volume day to be more positive than negative," said Darrell Cronk, president of Wells Fargo Investment Institute.

The Dow Jones industrial average rose 192.71 points, or 1.1 percent, to 17,720.98. The S&P 500 index gained 21.86 points, or 1.1 percent, to 2,078.36. The Nasdaq composite added 66.95 points, or 1.3 percent, to 5,107.94.

The S&P 500 index, considered a benchmark for the broader stock market, is now on course to end 2015 with a gain of about 1 percent. The Nasdaq is up nearly 8 percent for the year, while the Dow is down 0.6 percent.

In Europe, Germany's DAX rose 1.9 percent, while France's CAC 40 gained 1.8 percent. Britain's FTSE 100 rose 1 percent. Several markets in Asia notched small gains.

The U.S. rally accelerated as investors got a look at the latest batch of U.S. economic data.

The Conference Board said its consumer confidence index increased from the previous month, reflecting positive views on the economy and job market.

Separately, a key gauge of home values indicated that U.S. home prices climbed 5.5 percent in October from a year earlier. Home values have climbed at a roughly 5 percent pace during much of 2015 as strong hiring bolstered the real estate market, which still recovering from a bust that triggered a recession eight years ago.

Traders also welcomed a break in the decline in crude oil prices.

Benchmark U.S. crude rose $1.06, or 2.9 percent, to close at $37.87 a barrel on the New York Mercantile Exchange, recovering after a slump Monday. Brent crude, which is used to price international oils, gained $1.17, or 3.2 percent, to close at $37.79 a barrel in London.

Consol Energy and Chesapeake Energy were among the companies to get a boost from the pickup in energy prices.

Shares in Consol gained 37 cents, or 4.7 percent, to $8.24, while Chesapeake jumped 51 cents, or 12.5 percent, to $4.58.

"Lately the markets have been taking their cue from the movement in commodity prices, and in particular, oil," said Cronk.

In other energy trading in New York, wholesale gasoline rose 4.3 cents, or 3.5 percent, to $1.276 a gallon, heating oil rose 3.9 cents, or 3.6 percent, to $1.23 a gallon and natural gas jumped 14.4 cents, or 6.5 percent, to $2.372 per 1,000 cubic feet.

Precious and industrial metals prices ended mixed. Gold slipped 30 cents to $1,068 an ounce, silver rose 4 cents to $13.93 an ounce and copper gained 6 cents to $2.14 a pound.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.31 percent from 2.23 percent late Monday. The dollar was slightly higher at 120.46 yen, up from 120.34 on Monday. The euro slipped to $1.0934 from $1.0975.

Among other stocks making big moves Tuesday:

”” Pep Boys surged 8.8 percent after the auto parts and services retailer received another offer from activist investor Carl Icahn, putting the deal in the neighborhood of $1 billion. Shares in Pep Boys have been ratcheting steadily higher over the past two months as a takeover bid from Japanese tiremaker Bridgestone turned into a fight for control with Icahn. The stock added $1.53 to $18.94.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-117.11	points or ▼	-0.66%	on	Wednesday, December 30, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,603.87	▼	-117.11	▼	-0.66%		
	Nasdaq____	5,065.85	▼	-42.09	▼	-0.82%		
	S&P_500___	2,063.36	▼	-15.00	▼	-0.72%		
	30_Yr_Bond____	3.04	▲	0.00	▲	0.03%		

NYSE Volume	 2,322,295,500 	 	 	 	 	  		 
Nasdaq Volume	 1,191,864,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,274.05	▼	-40.52	▼	-0.64%		
	DAX_____	10,743.01	▼	-117.13	▼	-1.08%		
	CAC_40__	4,677.14	▼	-24.22	▼	-0.52%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,366.40	▲	50.80	▲	0.96%		
	Shanghai_Comp	3,572.88	▲	9.14	▲	0.26%		
	Taiwan_Weight	8,279.99	▼	-13.92	▼	-0.17%		
	Nikkei_225___	19,033.71	▲	51.48	▲	0.27%		
	Hang_Seng.__	21,882.15	▼	-117.47	▼	-0.53%		
	Strait_Times.__	2,885.51	▼	-2.71	▼	-0.09%		
	NZX_50_Index_	6,319.39	▲	26.95	▲	0.43%		

http://finance.yahoo.com/news/another-drop-energy-stocks-leads-152306367.html

*Another drop in energy stocks leads market lower*
Associated Press By ALEX VEIGA

The latest downturn in crude oil prices put investors in a selling mood Wednesday, pulling U.S. stocks lower for the second time this week.

The market decline, which wiped out some of the gains from a rally the day before, came on lighter-than-usual trading ahead of the New Year's Day holiday.

Energy companies fell the most among the 10 sectors in the Standard & Poor's 500 index, 1.5 percent. The sector is down 23.8 percent for the year. Southwestern Energy fell 6.8 percent, while Consol Energy sank 5.6 percent.

The price of oil shed 3.4 percent on Wednesday, extending its losses for the year to nearly 40 percent.

"You have oil prices affecting the market negatively today," said Quincy Krosby, market strategist for Prudential Financial. "You throw in exceedingly low volume and it's a recipe for skewing the market, in this case to the downside."

The Dow Jones industrial average fell 117.11 points, or 0.7 percent, to 17,603.87. The S&P 500 index dropped 15 points, or 0.7 percent, to 2,063.36. The Nasdaq composite lost 42.09 points, or 0.8 percent, to 5,065.85.

The day's market action cut into the S&P 500's slim gain for the year. The index remains essentially flat with an increase of 0.2 percent this year. The Nasdaq is up about 7 percent, while the Dow is on track to end 2015 with a loss of 1.2 percent.

The major stock indexes headed lower from the get-go on Wednesday as investors tracked the latest swings in oil and natural gas prices.

Benchmark U.S. crude fell $1.27 to close at $36.60 a barrel in New York. It's down 39 percent this year. Brent crude, which is used to price international oils, slid $1.33, or 3.5 percent, to close at $36.46 a barrel in London.

Several energy companies closed lower, including Noble Energy, which fell $1.18, or 3.5 percent, to $32.22, and Southwestern Energy, which tumbled 46 cents, or 6.8 percent, to $6.30.

Consol Energy shed 46 cents, or 5.6 percent, to $7.78. Natural gas company Chesapeake Energy fell 18 cents, or 3.9 percent, to $4.40.

In other energy trading in New York, wholesale gasoline fell 5 cents, or 3.6 percent, to $1.23 a gallon, while heating oil declined 5 cents, or 4.5 percent, to $1.079 a gallon. Natural gas slumped 15.6 cents to $2.214 per 1,000 cubic feet.

Traders found good reasons to bid up other stocks.

Weight Watchers International vaulted 19 percent after announcing an advertising campaign featuring Oprah Winfrey, who owns a 10 percent stake in the company. The stock added $3.68 to $23.05.

In Europe, trading volumes were low on the last full day of the year ahead of the New Year's holiday. Many European markets will be open only for a half day on Dec. 31. Germany's DAX fell 1.1 percent, while France's CAC 40 lost 0.5 percent. Britain's FTSE 100 slipped 0.6 percent.

Precious and industrial metals prices ended mixed. Gold lost $8.20 to $1,059.80 an ounce, silver fell 9 cents to $13.84 an ounce and copper gained 1 cent to $2.15 a pound.

Bond prices edged higher. The yield on the 10-year Treasury note fell to 2.29 percent.

In currencies, the dollar rose to 120.55 yen from 120.39 yen late Tuesday. The euro slipped to $1.0924 from $1.093


----------



## bigdog

Source: http://finance.yahoo.com 

*NYSE is closed January 1 2016 for New Year holiday*

 *The NYSE DOW closed  	LOWER ▼	-178.84	points or ▼	-1.02%	on	Thursday, December 31, 2015	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,425.03	▼	-178.84	▼	-1.02%		
	Nasdaq____	5,007.41	▼	-58.44	▼	-1.15%		
	S&P_500___	2,043.94	▼	-19.42	▼	-0.94%		
	30_Yr_Bond____	3.01	▼	-0.03	▼	-0.89%		

NYSE Volume	 2,610,210,000 	 	 	 	 	  		 
Nasdaq Volume	 1,411,131,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,242.32	▼	-31.73	▼	-0.51%		
	DAX_____	10,743.01	▼	-117.13	▼	-1.08%		
	CAC_40__	4,637.06	▼	-40.08	▼	-0.86%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,344.60	▼	-21.80	▼	-0.41%		
	Shanghai_Comp	3,539.18	▼	-33.69	▼	-0.94%		
	Taiwan_Weight	8,338.06	▲	58.07	▲	0.70%		
	Nikkei_225___	19,033.71	▲	51.48	▲	0.27%		
	Hang_Seng.__	21,914.40	▲	32.25	▲	0.15%		
	Strait_Times.__	2,882.73	▼	-2.78	▼	-0.10%		
	NZX_50_Index_	6,324.26	▲	4.87	▲	0.08%		

http://finance.yahoo.com/news/us-stocks-ending-2015-mostly-185738656.html#

*US stocks end 2015 mostly flat, capping volatile year*
Associated Press By ALEX VEIGA

The U.S. stock market took investors for a wild ride in 2015, but in the end it was a trip to nowhere.

Despite veering between record highs and the steepest dive in four years, the stock market ended the year essentially flat, delivering the weakest performance since 2008. That means if you invested in a fund that tracks the Standard & Poor's 500 index, you have little to show for the past 12 months.

"It's been mildly disappointing," said Michael Baele, managing director at the Private Client Reserve at U.S. Bank. "Any time that you come in toward the end of the year close to flat you always want a little bit more."

Markets overseas had their own challenges.

China's market surged in the late spring and then fell sharply in the summer despite several efforts by China's government to stem the decline. The Shanghai Composite Index ended the year up 9.4 percent. Japan's market finished flat after that country's government stepped up its economic stimulus program. In Europe, Britain's market ended the year down about 5 percent, while indexes in Germany and France turned in healthy gains of 9.6 percent and 8.5 percent, respectively.

In the U.S., the market got 2015 off to a slow start as investors worried about falling crude oil prices, flat earnings growth and when and how quickly the Federal Reserve would begin raising interest rates.

By May, the major indexes were hitting new highs. Even the Nasdaq bested its dot-com high-water mark set in March 2000.

The market didn't stay in milestone territory for long, though.

Worries about slowing growth in China and elsewhere gave reason for the Fed to pause and for investors to fret, even as the U.S. economy continued to create jobs and consumer confidence improved. Weak company earnings, largely due to the strong dollar and falling oil prices, didn't do much for the market's confidence.

By August, the anxiety had deepened and the market dropped sharply. The three major U.S. indexes went into a correction, commonly defined as a loss of at least 10 percent from a recent peak, for the first time in four years.

That slide didn't last long, either.

Within several weeks, the market had mostly bounced back. The Nasdaq composite returned to positive territory for the year, while the Dow average and S&P 500 remained slightly in the red until December.

In the weeks that followed, the S&P 500 inched back into positive territory, leaving the Dow as the only major market indicator negative for the year.

That held true until the last day of the year, when the S&P 500 index slipped back into the red.

The Dow ended down 178.84 points, or 1 percent, to 17,425.03 on Thursday. The S&P 500 index lost 19.42 points, or 0.9 percent, to 2,043.94. The Nasdaq composite fell 58.43 points, or 1.2 percent, to 5,007.41.

The S&P 500 ended the year with a slight loss of 0.7 percent. Once dividends are included, it had a total return of 1.4 percent, according to preliminary calculations. That's its worst showing since 2008, when it slumped 37 percent in the midst of the financial crisis. That figure also includes dividends.

"There was a lot of news that kept hitting the market and the market kept shrugging it all off and hung in there," said J.J. Kinahan, chief strategist at TD Ameritrade. "I'd say, given all that the market faced this year, it was pretty strong."

These were some of the key factors driving U.S. markets in 2015:

WAITING FOR THE FED

Wall Street watched few things more closely this year than the Federal Reserve. Traders had been predicting early on that the central bank would begin raising its benchmark interest rate as early as March. When that didn't happen, investors turned their focus to June, only to be disappointed again.

Eventually, in December, the Fed took action. It nudged its benchmark overnight borrowing rate higher, its first increase in interest rates in nearly a decade.

The Fed made it clear that it was expressing a vote of confidence in the U.S. economy by doing so and that future increases would be gradual. That helped reassure investors that the Fed wouldn't raise rates too quickly and thereby stunt the economy's growth.

"It really was central banks looming large over the market," Baele said. "The market had a fair amount of fear that the Fed raising rates was a risk to the market. It's turned around now."

CORRECTION ARRIVES

The bull market had racked up six years of annual gains by the time the calendars turned to 2015. The last time it had a correction was 2011. Historically, that's an unusually long time for the market to go without a meaningful pullback. That plus a string of record highs in late 2014 led many to think the market was overdue a drop.

The long-awaited correction finally arrived in August. Late in the month indexes dropped sharply as investors worried that a slowdown in China's huge economy could spread to other countries.

Yet after an 11 percent plunge between Aug. 17 and 25, and another, less steep drop in late September, the market began to struggle higher. By late November it had recouped all the losses from its late summer swoon.

Once investors determined that China's slowdown would not spillover to the U.S. and European economies, "then we had a very rapid recovery from that very sharp decline," Jeremy Zirin, chief equities strategist at UBS Wealth Management Americas.

EARNINGS DRAG

A big reason why the market finished flat in 2015 is that company earnings growth has also been largely flat.

That was due primarily to the impact of falling oil prices on energy sector earnings. Also, the rapid appreciation of the dollar constrained earnings for companies that do a lot of business overseas, including Procter & Gamble, Tiffany, Gap and Avon.

As a result, earnings growth for companies in the S&P 500 index went from 7 percent in 2014 to essentially zero in 2015, Zirin said.

Excluding energy, earnings for the rest of the S&P 500 would be up about 7 percent this year, Zirin said.

With so few companies producing meaningful growth, investors homed in on those that did. Among the biggest gainers: Facebook, Amazon, Netflix and Alphabet, Google's parent company.

"There's only been a handful of really strong performers on a market cap-weighted index that have driven us to performance while the majority of the indices and the majority of the stocks are actually negative for the year," said Darrell Cronk, president of Wells Fargo Investment Institute.

SLOW-GROWTH ECONOMY

The U.S. economy didn't do the stock market any favors in 2015.

It expanded at a slight 0.6 percent annual rate in the first three months of the year, depressed by unusually severe winter weather and disruptions at West Coast ports. The economy revved up in the next quarter, growing at an annual rate of 3.9 percent, but slowed to a gain of 2.1 percent in the July-September quarter.

Consumer spending remained a bright spot, however. That's one reason why consumer discretionary stocks, a category that includes big retailers and car makers, were the biggest gainers in the S&P 500.



http://finance.yahoo.com/news/us-stocks-edge-lower-pulling-p-500-red-152113258--finance.html

*US stocks edge lower; S&P 500 goes red for the year*
Associated Press By ALEX VEIGA

U.S. stocks closed lower on Thursday, capping the worst year for the market since 2008.

The Standard & Poor's 500 index ended essentially flat for the year after the day's modest losses nudged it into the red for 2015. Even factoring in dividends, the index eked out a far smaller return than in 2014.

The Dow Jones industrial average also closed out the year with a loss. The tech-heavy Nasdaq composite fared better, delivering a gain for the year.

"It's a lousy end to a pretty lousy year," said Edward Campbell, portfolio manager for QMA, a unit of Prudential Investment Management. "A very unrewarding year."

Trading was lighter than usual on Thursday ahead of the New Year's Day holiday. Technology stocks were among the biggest decliners, while energy stocks eked out a tiny gain thanks to a rebound in crude oil and natural gas prices.

The Dow ended the day down 178.84 points, or 1 percent, to 17,425.03. The S&P 50 index lost 19.42 points, or 0.9 percent, to 2,043.94. The Nasdaq composite fell 58.43 points, or 1.2 percent, to 5,007.41.

For 2015, the Dow registered a loss of 2.2 percent. It's the first down year for the Dow since 2008. The Nasdaq ended with a gain of 5.7 percent.

The S&P 500 index, regarded as a benchmark for the broader stock market, lost 0.7 percent for the year.

According to preliminary calculations, the index had a total return for the year of just 1.4 percent, including dividends. That's the worst return since 2008 and down sharply down from the 13.7 percent it returned in 2014.

While U.S. employers added jobs at a solid pace in 2015 and consumer confidence improved, several factors weighed on stocks in 2015.

Investors worried about flat earnings growth, a deep slump in oil prices and the impact of the stronger dollar on revenues in markets outside the U.S. They also fretted about the timing of the Federal Reserve's first interest rate increase in more than a decade.

The uncertainty led to a volatile year in stocks, which hit new highs earlier in the year, but swooned in August as concerns about a slowdown in China's economy helped drag the three major stock indexes into a correction, or a drop of at least 10 percent. The markets recouped most of their lost ground within a few weeks.

"The market didn't go anywhere and earnings didn't really go anywhere," Campbell said.

On Thursday, nine of the 10 sectors in the S&P 500 index ended lower, led by a 1.4 percent decline in technology stocks. Energy stocks, which had been battered recently as commodities prices sank, rose 0.3 percent as oil prices rebounded. The sector still closed out the year down nearly 24 percent, making it the worst performer in the S&P 500.

Crude oil and natural gas prices recovered some of their losses from the day before. Benchmark U.S. crude climbed 44 cents, or 1.2 percent, to close at $37.04 a barrel in New York. Brent crude, used to price international oils, gained 82 cents, or 2.2 percent, to close at $37.28 a barrel in London.

In other energy trading in New York, wholesale gasoline rose 3.7 cents to $1.267 a gallon, heating oil rose 2.2 cents to $1.101 a gallon and natural gas rose 12.3 cents to $2.337 per 1,000 cubic feet.

In Europe, Britain's FTSE 100 dropped 0.5 percent, putting it down 4.9 percent for the year. France's CAC-40 fared better in 2015, with an 8.5 percent gain after slipping 0.9 percent on Thursday. Germany's main stock market, which was closed Thursday for the holiday, ended the year with a 9.6 percent gain. In Asia, the Shanghai Composite Index lost 0.9 percent, while Hong Kong's Hang Seng gained 0.1 percent.

Precious and industrial metals prices ended mixed. Gold rose $40 cents to $1,060.20 an ounce, silver fell 4 cents to $13.80 an ounce and copper slid 1 cent to $2.14 a pound.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.27 percent from 2.30 percent a day earlier.

In currency markets, the dollar fell to 120.19 yen from 120.55 yen, while the euro fell to $1.0859 from $1.0924.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-276.09	points or ▼	-1.58%	on	Monday, January 4, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,148.94	▼	-276.09	▼	-1.58%		
	Nasdaq____	4,903.09	▼	-104.32	▼	-2.08%		
	S&P_500___	2,012.66	▼	-31.28	▼	-1.53%		
	30_Yr_Bond____	2.99	▼	-0.02	▼	-0.83%		

NYSE Volume	 4,243,674,500 	 	 	 	 	  		 
Nasdaq Volume	 2,172,010,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,093.43	▼	-148.89	▼	-2.39%		
	DAX_____	10,283.44	▼	-459.57	▼	-4.28%		
	CAC_40__	4,522.45	▼	-114.61	▼	-2.47%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,322.80	▼	-21.80	▼	-0.41%		
	Shanghai_Comp	3,296.26	▼	-242.92	▼	-6.86%		
	Taiwan_Weight	8,114.26	▼	-223.80	▼	-2.68%		
	Nikkei_225___	18,450.98	▼	-582.73	▼	-3.06%		
	Hang_Seng.__	21,327.12	▼	-587.28	▼	-2.68%		
	Strait_Times.__	2,835.97	▼	-46.76	▼	-1.62%		
	NZX_50_Index_	6,324.26	▲	4.87	▲	0.08%		

http://finance.yahoo.com/news/global-stocks-sink-china-index-dives-7-percent-151654934.html

*Stocks sink on first day of 2016 on China, Mideast worries*
Associated Press By BERNARD CONDON

NEW YORK (AP) ”” The new year got off to an inauspicious start on Wall Street as stocks tumbled Monday in a global sell-off triggered by new fears of a slowdown in China and rising tensions in the Middle East.

The Dow Jones industrial average clawed back from a steep early decline but still ended down 1.6 percent, its biggest loss in two weeks. Markets in Asia and Europe were down more.

The wave of selling on the first trading day of 2016 served as a reminder that worries over the fragile global economy that weighed on financial markets last year are not going away anytime soon.

"It's going to be a turbulent year," said Kevin Kelly, chief investment officer of Recon Capital Partners. "This isn't a blip."

The trouble started in China, where weak manufacturing figures in the world's second-largest economy sent the Shanghai Composite Index plunging 6.9 percent before Chinese authorities halted trading.

Investors were also unnerved by heightened tensions between Saudi Arabia, a huge oil supplier, and Iran. Saudi Arabia executed a prominent Shiite cleric, prompting Iranian protesters to set fire to the Saudi Embassy in Tehran on Sunday. The price of oil swung wildly.

In the U.S., the Dow slumped 276.09 points to 17,148.94. It was down as much as 467 points earlier in the day.

The Standard & Poor's 500 index lost 31.28 points, or 1.5 percent, to 2,012.66. The Nasdaq composite fell 104.32 points, or 2.1 percent, to 4,903.09.

The selling in China spread quickly across markets in other Asian countries, then to Europe. The DAX index in Germany tumbled 4.3 percent. Britain's FTSE 100 fell 2.4 percent, while France's CAC 40 dropped 2.5 percent.

Huang Cengdong, an analyst for Sinolink Securities in Shanghai, said he expects more turmoil in the Chinese stock market ahead of corporate earnings reports. "There will be heavy selling in the near future," Huang said.

Elsewhere in Asia, Japan's Nikkei 225 tumbled 3.1 percent, and Hong Kong's Hang Seng retreated 2.7 percent. South Korea's Kospi closed 2.2 percent lower.

In the U.S., investors were also worried about data suggesting that slow overseas growth and low oil prices are continuing to hurt U.S. manufacturers. A report from the Institute for Supply Management showed manufacturing contracted last month at the fastest pace in more than six years as factories cut jobs and new orders shrank.

In China, the Caixin/Markit index of manufacturing fell in December for the 10th straight month. The resulting stock drop markets in Shanghai and Shenzhen led authorities to halt trading under a "circuit breaker" mechanism announced late last year. It was the first time China used the system.

The slowdown in China is worrisome around the globe because the country's manufacturers are huge buyers of raw materials, machinery and energy from other countries. Also, many automakers and consumer goods companies are hoping to sell more to increasingly wealthy Chinese households.

Chinese authorities have been trying for months to restore confidence in the country's market after a plunge in June rattled global markets and prompted a panicked, multibillion-dollar government intervention.

Ernie Cecilia, chief investment officer of Bryn Mawr Trust, warned that investors shouldn't overreact to Monday's drops.

"A weak first day of the year doesn't portend that 2016 will be a down year," Cecilia said. "There are a lot of trading days left."

Escalating tensions in the Middle East briefly sent the price of oil surging. Saudi Arabia said Sunday it is severing diplomatic relations with Iran, a development that could potentially threaten oil supplies.

"Oil markets will be concerned that this could be an incremental step in a deteriorating political situation that might ultimately threaten world oil supply," Ric Spooner, chief analyst at CMC Markets, said in a commentary.

Benchmark U.S. crude fell 28 cents to close at $36.76 a barrel on the New York Mercantile Exchange.

Bond prices rose, sending yields lower. Investors tend to park money in U.S. government bonds when they are fearful of weak economic growth or turbulence in stocks and other markets. The yield on the 10-year Treasury note fell to 2.24 percent from 2.27 percent.

In metals trading, gold rose $15 to $1,075.20 an ounce, silver lost 4 cents to $13.84 an ounce and copper fell six cents to $2.08 a pound.

Brent crude, the international standard, edged down 6 cents to close at $37.22 a barrel in London.

In other energy trading in New York, wholesale gasoline rose 2 cents to $1.291 a gallon, heating oil rose a quarter of a cent to $1.126 a gallon and natural gas edged down 0.3 cent to $2.334 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	9.72	points or ▲	0.06%	on	Tuesday, January 5, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,158.66	▲	9.72	▲	0.06%		
	Nasdaq____	4,891.43	▼	-11.66	▼	-0.24%		
	S&P_500___	2,016.71	▲	4.05	▲	0.20%		
	30_Yr_Bond____	3.01	▲	0.02	▲	0.70%		

NYSE Volume	 3,676,381,000 	 	 	 	 	  		 
Nasdaq Volume	 1,890,874,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,137.24	▲	43.81	▲	0.72%		
	DAX_____	10,310.10	▲	26.66	▲	0.26%		
	CAC_40__	4,537.63	▲	15.18	▲	0.34%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,239.20	▼	-83.60	▼	-1.57%		
	Shanghai_Comp	3,287.71	▼	-8.55	▼	-0.26%		
	Taiwan_Weight	8,075.11	▼	-39.15	▼	-0.48%		
	Nikkei_225___	18,374.00	▼	-76.98	▼	-0.42%		
	Hang_Seng.__	21,188.72	▼	-138.40	▼	-0.65%		
	Strait_Times.__	2,825.97	▼	-10.00	▼	-0.35%		
	NZX_50_Index_	6,278.10	▼	-46.16	▼	-0.73%		

http://finance.yahoo.com/news/us-stocks-slip-gm-ford-fall-sales-reports-152803204--finance.html

*US indexes end mostly higher; GM, Ford slip on sales miss

US stocks mostly higher after a day of wavering; GM and Ford sink as sales miss forecasts*
Associated Press By Marley Jay, AP Markets Writer

 U.S. stocks managed some small gains Tuesday, but not enough to make up for big losses from the day before.

Utilities and telecommunications stocks rose the most. General Motors and Ford dropped as their December sales fell short of analysts' estimates.

The Dow Jones industrial average gained 9.72 points, or 0.1 percent, to 17,158.66. The Standard & Poor's 500 index edged up 4.05 points, or 0.2 percent, to 2,016.71. The Nasdaq composite fell 11.66 points, or 0.2 percent, to 4,891.43, as shares of Apple sank 2.5 percent.

Stocks spent most of the day alternating between small gains and losses, and turned positive in the last hour of trading. The relatively stable trading came a day after a plunge in China's main index set off a bout of selling in global markets.

Despite increased tensions in the Middle East, energy prices continued to tumble because demand appears weak while global stockpiles are large. Analysts surveyed by Platts said they believe refining decreased last week and stockpiles will grow again.

U.S. crude fell 79 cents, or 2.1 percent, to $35.97 a barrel in New York. Brent crude, a benchmark for international oils, fell 80 cents, or 2.1 percent, to $36.42 a barrel in London.

The biggest losses belonged to drilling services companies. Ensco lost $1, or 6.3 percent, to $14.89 and Diamond Offshore Drilling decreased $1.05, or 4.8 percent, to $20.80. Transocean and Baker Hughes also fell.

Automakers reported that last month was the best December in the history of the U.S. auto industry, with 1.6 million cars and trucks sold. That helped make 2015 the biggest sales year in the industry's history. But shares General Motors and Ford slumped as their monthly totals fell short of analysts' projections.

Shares of GM fell 88 cents, or 2.6 percent, to $32.43 and Ford declined 25 cents, or 1.8 percent, to $13.72. Auto parts supplier Delphi Automotive gave up $2.33, or 2.8 percent, to $81.66.

Gun makers continued to trade higher as President Barack Obama announced executive actions intended to reduce gun violence and unregulated sales. The prospect of additional background checks and other restrictions often boosts demand for guns.

Smith & Wesson rose $2.58, or 11.1 percent, to $25.86 and Sturm Ruger gained $4.15, or 6.8 percent, to $65.54. Late Monday, Smith & Wesson raised its profit estimates for the year, saying sales were better than it had expected. The stocks also rose Monday because background checks surged in December, suggesting strong sales.

Smith & Wesson has more than doubled over the last year and Sturm Ruger is up 87 percent.

Spirit Airlines jumped after the company replaced CEO Ben Baldanza. Baldanza helped make Spirit into an "ultra-low cost carrier" with low fares and fees for everything from snacks, seat assignments, and space in overhead bins.

The company also became known for splashy promotions and "pre-reclined" seats that couldn't be lowered, letting the company fit more people on its planes. However shares were down by about half over the last year and in November they hit two-year lows.

Spirit gained $2.32, or 5.9 percent, to $41.50.

Fitbit tumbled to a new low as investors were not impressed with the Blaze, its newest fitness tracker. The stock fell $5.46, or 18.3 percent, to $24.30. Fitbit stock began trading at $20 in June and rose as high as $51.90 in August.

The dollar slipped to 118.97 yen from 119.30 yen late Monday. The euro fell to $1.0744 from $1.0827. The yield on the 10-year Treasury note edged down to 2.24 percent from 2.25 percent.

In other energy trading, wholesale gasoline fell 3.4 cents, or 2.6 percent, to $1.257 a gallon and heating oil was nearly unchanged at $1.125 a gallon. Natural gas fell 0.9 cents to $2.325 per 1,000 cubic feet.

Gold edged up $3.20 to $1,078.40 an ounce, silver rose 13 cents to $13.97 an ounce and copper climbed 2 cents to $2.10 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-252.15	points or ▼	-1.47%	on	Wednesday, January 6, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,906.51	▼	-252.15	▼	-1.47%		
	Nasdaq____	4,835.76	▼	-55.67	▼	-1.14%		
	S&P_500___	1,990.26	▼	-26.45	▼	-1.31%		
	30_Yr_Bond____	2.94	▼	-0.07	▼	-2.36%		

NYSE Volume	 4,243,220,000 	 	 	 	 	  		 
Nasdaq Volume	 2,110,443,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,073.38	▼	-63.86	▼	-1.04%		
	DAX_____	10,214.02	▼	-96.08	▼	-0.93%		
	CAC_40__	4,480.47	▼	-57.16	▼	-1.26%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,178.00	▼	-61.20	▼	-1.17%		
	Shanghai_Comp	3,361.84	▲	74.13	▲	2.25%		
	Taiwan_Weight	7,990.39	▼	-84.72	▼	-1.05%		
	Nikkei_225___	18,191.32	▼	-182.68	▼	-0.99%		
	Hang_Seng.__	20,980.81	▼	-207.91	▼	-0.98%		
	Strait_Times.__	2,804.27	▼	-29.96	▼	-1.06%		
	NZX_50_Index_	6,262.52	▼	-15.58	▼	-0.25%		

http://abcnews.go.com/Business/wireStory/us-stocks-sink-jitters-north-korea-china-weakness-36117481

*Stocks Hit 2-Month Lows as Oil Dives and China Worries Flare*
By Marley Jay, ap markets writer

 U.S. stocks tumbled to two-month lows Wednesday as fears about China's economy slowing down led to more widespread selling. The price of oil plunged to its lowest level since 2008 on the prospect that global demand could fall further.

For the second time in three days, markets slumped on concerns about that the second-largest economy in the world is stumbling. A monthly survey of China's service industries slipped to a 17-month low. That helped knock the price of oil lower since China is a major consumer of energy.

Global markets were also rattled after North Korea said it had conducted its first successful test of a hydrogen bomb. Experts in South Korea and the U.S. doubted that the country had made that breakthrough, but the announcement still caused alarm.

The Dow Jones industrial average dropped 252.15 points, or 1.5 percent, to 16,906.51. The Standard & Poor's 500 index lost 26.45 points, or 1.3 percent, to 1,990.26, for its fourth loss in five days. The Nasdaq composite gave up 55.67 points, or 1.1 percent, to 4,835.76.

U.S. benchmark crude sank $2, or 5.6 percent, to close at $33.97 a barrel in New York, its lowest price since December 2008. Brent crude, a benchmark for international oils, fell $2.19, or 6 percent, to close at $34.23 a barrel in London.

Southwestern Energy fell 96 cents, or 12.6 percent, to $6.69 and Marathon Oil declined $1.48, or 11.6 percent, to $11.28.

France's CAC 40 shed 1.3 percent and Germany's DAX dropped 0.9 percent. Britain's FTSE 100 fell 1 percent. Japan's Nikkei 225 index lost 1 percent and South Korea's Kospi fell 0.3 percent. Hong Kong's Hang Seng shed 1 percent. The Shanghai Composite Index in mainland China rebounded 2.3 percent as the Chinese government said it will keep some market-stabilizing measures in place.

Stocks also plunged Monday on signs of weakness in China's manufacturing sector. The Shanghai Composite skidded almost 7 percent that day and also fell on Tuesday.

Scott Wren, senior global equity strategist for the Wells Fargo Investment Institute, said the market was overreacting to the latest signs of weakness in China.

"Stocks are not trading on fundamentals," he said. "They're trading on fear that Chinese growth is going to collapse and that these lower oil prices are going to lead to a growing number of defaults in the high-yield bond market."

U.S. government bond prices rose Wednesday as the turbulent stock market made bonds more appealing. The yield on the 10-year Treasury note fell to 2.17 percent from 2.24 percent.

The markets have endured a rough few days to start 2016. J.J. Kinahan, chief markets strategist for TD Ameritrade, said that's making bonds attractive.

"Bonds have been up a lot this year even though the interest rates are nothing to be excited about," he said. "They want the security of knowing that their money is safe."

Other energy prices also slipped. The price of wholesale gasoline sank 9.5 cents, or 7.6 percent, to $1.162 a gallon after the U.S. government said inventories of gas climbed by 10.6 million barrels last week. Citi Investment Research analyst Edward Morse said that was the biggest weekly increase since 1993.

Heating oil sank 4.5 cents, or 4 percent, to $1.081 a gallon. Natural gas declined 5.6 cents, or 2.5 percent, to $2.267 per 1,000 cubic feet.

Auto retailer AutoNation said it had to offer large discounts in December, especially on luxury vehicles. The company said it will report smaller profits per vehicle in the fourth quarter. The stock dropped $5.98, or 10.5 percent, to $50.76.

Netflix made the biggest gain in the S&P 500. The streaming video service announced at an electronics show in Las Vegas that it would debut in 130 countries Wednesday, with the notable exception of China. Its shares rose $10.02, or 9.3 percent, to $117.68.

Chipotle Mexican Grill said it received a federal grand jury subpoena as the government looks into norovirus outbreak at a California restaurant this summer. Chipotle also disclosed that sales at restaurants open at least one year plunged 30 percent in December in the wake of an E. coli outbreak that affected dozens of restaurants and a norovirus outbreak in one location in Massachusetts. The stock lost $22.36, or 5 percent, to $426.67. Chipotle has fallen 40 percent since the outbreaks began in October.

The euro edged up to $1.0788 from $1.0744. The dollar fell to 118.38 yen from 118.97 yen late Tuesday.

The price of gold rose $13.50, or 1.3 percent, to $1,091.90 an ounce. Silver inched up 0.5 cents to $13.976 an ounce. Copper slid 0.8 cents to $2.088 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-392.41	points or ▼	-2.32%	on	Thursday, January 7, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,514.10	▼	-392.41	▼	-2.32%		
	Nasdaq____	4,689.43	▼	-146.34	▼	-3.03%		
	S&P_500___	1,943.09	▼	-47.17	▼	-2.37%		
	30_Yr_Bond____	2.93	▼	-0.01	▼	-0.48%		

NYSE Volume	 4,976,111,000 	 	 	 	 	  		 
Nasdaq Volume	 2,510,095,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,954.08	▼	-119.30	▼	-1.96%		
	DAX_____	9,979.85	▼	-234.17	▼	-2.29%		
	CAC_40__	4,403.58	▼	-76.89	▼	-1.72%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,068.80	▼	-109.20	▼	-2.11%		
	Shanghai_Comp	3,125.00	▼	-236.84	▼	-7.04%		
	Taiwan_Weight	7,852.06	▼	-138.33	▼	-1.73%		
	Nikkei_225___	17,767.34	▼	-423.98	▼	-2.33%		
	Hang_Seng.__	20,333.34	▼	-647.47	▼	-3.09%		
	Strait_Times.__	2,729.91	▼	-74.36	▼	-2.65%		
	NZX_50_Index_	6,213.39	▼	-49.13	▼	-0.78%		

http://finance.yahoo.com/news/us-stocks-slide-again-china-154233044.html

*Stocks slump the most in 3 months on new China worries

More signs of trouble in China send indexes, oil prices sharply lower; Crude lowest since 2004*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- Stocks and oil prices plunged again Thursday on spreading fears that China's economy, a major engine of global growth, is sputtering.

It was the worst one-day drop since late September, and the main U.S. benchmark, the Standard & Poor's 500 index, has now had its worst four-day opening of a year in history.

The latest bout of market volatility came after China allowed its currency to weaken further, a dangerous omen for the world's second-largest economy. That helped set off a 7 percent plunge in China's main index, causing trading to be halted after just 30 minutes.

The malaise spread across continents, sending indexes sharply lower in the U.S. and Europe. The price of U.S. crude oil plunged to its lowest level since 2004 as traders worried that weakness in China would translate into lower global demand for energy.

The selling in the U.S. has been concentrated in technology stocks, which could suffer if demand for iPhones and other electronics weakens. Apple sank 4 percent and has now fallen 27 percent since July.

Thursday's drop pushed the tech-heavy Nasdaq composite index into what market watchers call a "correction," or a drop of 10 percent from a recent peak. The Nasdaq has fallen for six days straight.

China could be in store for more declines after that country's market regulator suspended automatic trading halts that were put in place Jan. 1. Those halts, which were triggered twice this week, are increasingly seen as inadequate measures to prevent volatility.

"The management of the Chinese economy is the real concern," said John Canally, chief economic strategist at LPL Financial. "All that matters for markets right now is 'China can't get their act straight.' "

The Dow Jones industrial average sank 392.41 points, or 2.3 percent. At one point it was down 442 points, or 2.6 percent.

The S&P 500 index gave up 47.17 points, or 2.4 percent. The Nasdaq composite index dropped 146.34 points, or 3 percent, to 4,689.43.

While the Nasdaq is so far the only major U.S. index to enter a correction, the other two are getting close. The Dow average is down 9.8 percent from its peak in May, and the S&P 500 index has lost 8.8 percent since then.

European markets also dropped. Germany's DAX slid 2.3 percent, France's CAC 40 gave up 1.7 percent and Britain's FTSE 100 lost 2 percent.

The price of U.S. crude oil dipped to 12-year lows as investors worried worldwide demand will fall even further. It sank 70 cents, or 2.1 percent, to $33.27, its lowest close since February 2004. Brent crude, the benchmark for international oils, lost 48 cents to $33.75 a barrel in London. Brent is trading at 11-year lows.

Apple, the world's largest publicly traded company, had its biggest loss in four months and fell to its lowest price since October 2014. Financial stocks also slumped. Citigroup gave up $2.56, or 5.1 percent, to $47.56.

Aerospace company Boeing fell $5.82, or 4.2 percent, to $133.01 and railroad operator Union Pacific felt $1.75, or 2.3 percent, to $73.08.

2016 has started with a series of warning signs about China's economy. Those worries about China have drowned out signs that the economies of the U.S. and Europe are doing fairly well.

Thursday's selling was linked to weakness in the yuan, as the government's decision to let the currency get weaker may be a sign of weakness in China's economy. Earlier this week, economic data caused investors to worry about China's manufacturing and service industries.

"China's been such a big driver of global growth for 15 years and now they're not, and they don't seem to have a plan for the next 15 years," said Canally.

The S&P 500 is down 4.9 percent this week, on pace for its biggest weekly loss since August. That decline was touched off by worries that a dive in China's stock market would harm that nation's economy.

The price of gold added $15.90, or 1.5 percent, to $1,107.80 an ounce. Silver rose 36.8 cents, or 2.6 percent, to $14.344 an ounce. Those prices have been falling for years, but gold prices have recovered recently and are at their highest price in about two months.

However the price of copper declined 6.6 cents, or 3.2 percent, to $2.022 a pound. That helped send copper producer Freeport-McMoRan down 56 cents, or 9.1 percent, to $5.61. Its stock has plunged 84 percent over the last two years.

In other energy trading, wholesale gasoline declined 1.6 cents to $1.146 a gallon and heating oil lost 1.5 cents to $1.066 a gallon. Natural gas rose 11.5 cents, or 5.1 percent, to $2.382 per 1,000 cubic feet.

The euro rose to $1.0927 from $1.0788. The dollar fell to 117.750 yen from 118.38 yen.

Bonds prices rose. The yield on 10-year Treasury bond fell to 2.15 percent from 2.17 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-167.65	points or ▼	-1.02%	on	Friday, January 8, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,346.45	▼	-167.65	▼	-1.02%		
	Nasdaq____	4,643.63	▼	-45.79	▼	-0.98%		
	S&P_500___	1,922.03	▼	-21.06	▼	-1.08%		
	30_Yr_Bond____	2.92	▼	-0.01	▼	-0.21%		

NYSE Volume	 4,625,190,000 	 	 	 	 	  		 
Nasdaq Volume	 2,244,833,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,912.44	▼	-41.64	▼	-0.70%		
	DAX_____	9,849.34	▼	-130.51	▼	-1.31%		
	CAC_40__	4,333.76	▼	-69.82	▼	-1.59%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,049.40	▼	-19.40	▼	-0.38%		
	Shanghai_Comp	3,186.41	▲	61.41	▲	1.97%		
	Taiwan_Weight	7,893.97	▲	41.91	▲	0.53%		
	Nikkei_225___	17,697.96	▼	-69.38	▼	-0.39%		
	Hang_Seng.__	20,453.71	▲	120.37	▲	0.59%		
	Strait_Times.__	2,751.23	▲	21.32	▲	0.78%		
	NZX_50_Index_	6,158.11	▼	-55.28	▼	-0.89%		

http://finance.yahoo.com/news/us-stocks-rise-day-sharp-153623143.html

*US stock market drops, ending its worst week since 2011*
Associated Press By MARLEY JAY

NEW YORK (AP) — A wave of late selling pummeled U.S. stocks Friday and pushed the market to its worst week in four years.

The dismal start to the new year comes as investors worry that China's huge economy is slowing down. That has helped send the price of oil plunging to its lowest level since 2004, the latest blow to U.S. energy companies.

Industrial and technology companies such as Boeing and Apple that do a lot of business in China have also fallen sharply this week. Mining companies such as Freeport-McMoRan plunged as copper prices have fallen. China is a major importer of copper.

Stocks started the day higher, driven in part by news of an encouraging burst in hiring last month by U.S. employers. China's stock market also rose 2 percent overnight, recovering somewhat after steep drops earlier in the week triggered trading halts.

Indexes wavered between small gains and losses for most of the day, but took a decisive turn lower in the last hour of trading. That made this the worst week since September 2011, when the market was roiled by the fight over the U.S. debt ceiling and Standard & Poor's move to cut the credit rating of the U.S. government.

The Dow Jones industrial average dropped 167.65 points, or 1 percent, to 16,346.45. The Standard & Poor's 500 index fell 21.06 points, or 1.1 percent, to 1,922.03. The Nasdaq composite index shed 45.80 points, or 1 percent, to 4,643.63.

The Dow and S&P 500 are each down about 6 percent for the week. The Nasdaq composite fell even more, 7.3 percent. That index is heavily weighted with technology and biotech companies, both of which were high-fliers last year.

The largest losses on Friday went to financial stocks. JPMorgan Chase lost $1.35, or 2.2 percent, to $58.92 and Citigroup fell $1.43, or 3 percent, to $46.13. Health care stocks slumped, led by drug companies. Energy stocks also skidded as the price of oil, already at decade lows, continued to fall.

European stocks also rose early in the day, but couldn't hang on. The FTSE 100 index of leading British shares declined 0.7 percent while Germany's DAX lost 1.3 percent. The CAC-40 in France slid 1.6 percent.

The same pattern held in the U.S. In its monthly jobs report, released before the stock market opened, the Labor Department said U.S. employers added 292,000 jobs in December, far more than economists had forecast.

That's the latest sign the U.S. economy is still growing. On average employers added 284,000 jobs per month in the fourth quarter, the best rate in a year.

Michael Fredericks, portfolio manager for BlackRock Multi-Asset Income Fund, said the labor market is healthy and wages could improve this month. "These are unusually strong job creation numbers," he said.

Fredericks said the low wage growth and limited inflation will make the Federal Reserve proceed cautiously as it raises interest rates. In December the Fed raised rates for the first time in nine years, but interest rates are still very low.

Throughout the week, worries about China's economy and shocks to its markets have canceled out positive news from the U.S. and Europe. While China's economy is still growing, that growth isn't as fast as it has been. That could hurt sales of everything from iPhones to oil and heavy machinery.

Oil prices also lost ground. U.S. crude fell 11 cents to close at $33.16 a barrel in New York and Brent crude, a benchmark for international oils, declined 20 cents to $33.55 a barrel in London.

Exxon Mobil lost $1.54, or 2 percent, to $74.69 and Tesoro fell $5.41, or 5 percent, to $101.62.

This week retailers started disclosing their holiday-season results. Gap and American Eagle both reported disappointing sales. Gap stock dropped $3.83, or 14.3 percent, to $22.91, its lowest in almost four years. American Eagle tumbled $2.64, or 16.6 percent, to $13.24.

Department stores were among the biggest losers on the S&P 500. Their holiday sales have been hurt by the unusually warm winter weather. Kohl's fell $2.98, or 5.9 percent, to $47.88 and Macy's lost $1, or 2.7 percent, to $35.89.

The Container Store reported a surprise third-quarter loss and disappointing sales, and its stock plunged $2.96, or 41.2 percent, to $4.22. The company went public in November 2013 with an IPO that priced at $18 per share and it finished its first trading day at $36.20.

The price of gold fell $9.90, or 0.9 percent, to $1,097.90 an ounce. Silver declined 42.6 cents, or 3 percent, to $13.918 an ounce. Copper was unchanged at $2.022 a pound.

The euro fell to $1.0903 from $1.0927 and the dollar edged up to 117.67 yen from 117.50 yen late Thursday. Bond prices rose. The yield on the 10-year Treasury note edged down to 2.12 percent from 2.15 percent.

6225


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	52.12	points or ▲	0.32%	on	Monday, January 11, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,398.57	▲	52.12	▲	0.32%		
	Nasdaq____	4,637.99	▼	-5.64	▼	-0.12%		
	S&P_500___	1,923.67	▲	1.64	▲	0.09%		
	30_Yr_Bond____	2.96	▲	0.04	▲	1.23%		

NYSE Volume	 4,580,805,000 	 	 	 	 	  		 
Nasdaq Volume	 2,350,401,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,871.83	▼	-40.61	▼	-0.69%		
	DAX_____	9,825.07	▼	-24.27	▼	-0.25%		
	CAC_40__	4,312.74	▼	-21.02	▼	-0.49%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,990.70	▼	-58.70	▼	-1.16%		
	Shanghai_Comp	3,016.70	▼	-169.71	▼	-5.33%		
	Taiwan_Weight	7,788.42	▼	-105.55	▼	-1.34%		
	Nikkei_225___	17,697.96	▼	-69.38	▼	-0.39%		
	Hang_Seng.__	19,888.50	▼	-565.21	▼	-2.76%		
	Strait_Times.__	2,708.85	▼	-42.38	▼	-1.54%		
	NZX_50_Index_	6,102.83	▼	-55.28	▼	-0.90%		

http://finance.yahoo.com/news/us-st...ing-off-another-drop-152854536--finance.html#

*US end mostly higher, but energy sector hit by slump in oil*
Associated Press By Alex Veiga, AP Business Writer

The U.S. stock market mounted a last-minute comeback to close slightly higher on Monday, snapping a three-day losing streak.

The Standard & Poor's 500 index and the Dow Jones industrial average each eked out a tiny gain, while the Nasdaq composite ended slightly lower.

Consumer staples stocks were among the biggest gainers. Oil and gas companies were hit by another plunge the price of crude oil, which tumbled 5.3 percent to a 12-year low. Chevron lost 1.7 percent and Exxon Mobil fell 1 percent.

The latest downturn in oil comes at a time when investors are increasingly uneasy about the trajectory of China's economy and the possible implications for U.S. company earnings. China's Shanghai composite fell 5.3 percent on Monday.

"Investors have one eye on China, and all that's going on there, and the other eye on oil," said Erik Davidson, chief investment officer at Wells Fargo Private Bank. "Those two things are keeping investors on pins and needles right now."

The Dow added 52.12 points, or 0.3 percent, to 16,398.57. The S&P 500 index rose 1.64 points, or 0.1 percent, to 1,923.67. The Nasdaq fell 5.64 points, or 0.1 percent, to 4,637.99.

All of the major stock indexes are down sharply for the year.

The three indexes hinted at a rebound early Monday, but spent much of the day in the red as investors weighed the implications of another stock market drop in China and the slide in crude. The market appeared headed for a lower close until the final minutes of regular trading, when the Dow and S&P 500 index shifted back into positive territory.

Monday's market action is a slight reprieve from an otherwise rough year so far for investors.

Last week, U.S. stocks posted their worst week in more than four years. It was also the market's worst-ever opening week of a year.

A weakening of China's currency and steep drops in its stock market have stoked worries over the outlook for the world's second-largest economy.

That doesn't bode well for the next round of company earnings, which kicks into gear this week.

Many companies' quarterly results will likely reflect the impact of China's softening economy and lower oil prices, said Jason Pride, director of investment strategy at Glenmede.

"The No. 1 most-mentioned item in third-quarter reports was weakness in China," Pride said. "We'd be surprised if China and oil are not central to the earnings narrative as well."

Alcoa delivered its report card after the close of regular trading on Monday. The earnings were better than analysts had expected. Several banks, including Citigroup, Wells Fargo and J.P. Morgan are scheduled to report results toward the end of the week.

On Monday, Benchmark U.S. crude dropped $1.75, or 5.3 percent, to $31.41 a barrel in New York. The last time it was lower was Dec. 5, 2003, when it closed at $30.73 a barrel. Brent crude, a benchmark for international oils, fell $2, or 6 percent, to $31.55 a barrel in London.

Several energy and mining companies slumped as crude oil and other commodity prices fell.

Freeport-McMoRan sank $1.10, or 20.3 percent, to $4.31, making it the biggest decliner in the S&P 500 index. Consol Energy also slumped, losing 69 cents, or 9 percent, to $7. NRG Energy shed $1.11, or 9.8 percent, to $10.23.

Chevron slid $1.36, or 1.7 percent, to $80.77, while Exxon Mobil lost $1, or 1.3 percent, to $73.69.

All told, energy stocks fell the most among companies in the S&P 500 index, 2.1 percent. The sector is down 8.8 percent this year. That's on top of a loss of 24 percent for 2015.

Consumer staples stocks led the risers pack, adding about 1 percent. Macy's notched the biggest gain in the index, adding $2.93, or 8.2 percent, to $38.82.

HCA Holdings also rose after the hospital operator raised its profit forecast. The stock added $3.56, or 5.5 percent to $67.83.

European markets were down. Germany's DAX slipped 0.2 percent, while the CAC-40 in France lost 0.5 percent. The FTSE 100 index of leading British shares slid 0.7 percent.

In Asia, Chinese stocks sank again after a rebound Friday that analysts suggested was due to buying from a group of state entities dubbed the "National Team." The Shanghai Composite Index fell 5.3 percent and Hong Kong's Hang Seng sank 2.8 percent. Sydney's S&P/ASX 200 lost 1.2 percent, while Seoul's Kospi fell 1.2 percent. Tokyo's markets were closed for a holiday.

In metals trading, gold fell $1.70 to $1,096.20 an ounce, while silver fell 5 cents to $13.86 an ounce. Copper slipped 5 cents, or 2.4 percent, to $1.97 a pound.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.18 percent from 2.12 percent late Friday.

In currency action, the euro fell to $1.0856 from $1.0903 and the dollar edged down to 117.74 yen compared with 117.67 yen late Friday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	117.65	points or ▲	0.72%	on	Tuesday, January 12, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,516.22	▲	117.65	▲	0.72%		
	Nasdaq____	4,685.92	▲	47.93	▲	1.03%		
	S&P_500___	1,938.68	▲	15.01	▲	0.78%		
	30_Yr_Bond____	2.88	▼	-0.07	▼	-2.50%		

NYSE Volume	 4,858,680,000 	 	 	 	 	  		 
Nasdaq Volume	 2,116,157,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,929.24	▲	57.41	▲	0.98%		
	DAX_____	9,985.43	▲	160.36	▲	1.63%		
	CAC_40__	4,378.75	▲	66.01	▲	1.53%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,982.20	▼	-8.50	▼	-0.17%		
	Shanghai_Comp	3,022.86	▲	6.16	▲	0.20%		
	Taiwan_Weight	7,768.45	▼	-19.97	▼	-0.26%		
	Nikkei_225___	17,218.96	▼	-479.00	▼	-2.71%		
	Hang_Seng.__	19,711.76	▼	-176.74	▼	-0.89%		
	Strait_Times.__	2,691.37	▼	-17.48	▼	-0.65%		
	NZX_50_Index_	6,112.35	▲	9.52	▲	0.16%		

http://finance.yahoo.com/news/stock...ns-technology-energy-152232248--finance.html#

*Stocks rebound after early slide; tech stocks lead gains*
Associated Press By ALEX VEIGA

A volatile day on Wall Street ended in upbeat fashion Tuesday as a late-afternoon rally led by technology stocks pushed the market to a modest gain.

The turnaround helped snap an eight-day trading slump for the Nasdaq composite, which is heavily weighted with technology stocks.

Energy stocks slumped as much as 2 percent during the day, then recovered in late trading to eke out a slight gain.

Crude oil prices declined for the seventh day in a row, the longest losing streak since July 2014. Oil has now fallen nearly 18 percent this year.

"We saw a little bit of weakness in oil and the selling just continued," said J.J. Kinahan, chief strategist at TD Ameritrade.

All told, the Dow Jones industrial average gained 117.65 points, or 0.7 percent, to 16,516.22. The Standard & Poor's 500 index added 15.01 points, or 0.8 percent, to 1,938.68. The Nasdaq composite climbed 47.93 points, or 1 percent, to 4,685.92.

Investors have been wrestling with fears about a protracted slowdown in China's economy and the potential fallout for corporate earnings. Uncertainty about Beijing's ability to manage its financial markets has also kept traders on edge after sharp losses last week.

The steep downturn in crude oil prices has also weighed on the market. The three major U.S. stock indexes are all down for the year, with the Dow and S&P 500 index off about 5 percent, while the Nasdaq is down 6.4 percent.

Trading looked to take a more positive turn early Tuesday as the major U.S. stock indexes opened higher and oil prices rose. That trend didn't last, as oil prices turned lower once more, weighing on energy stocks. The market looked like it was headed for a lower close before it reversed course in the final hour of trading.

"You're seeing very oversold conditions," said Phil Blancato, CEO of Ladenburg Thalmann Asset Management. "People here are basically buying the dip."

Eight of the 10 sectors in the S&P 500 index rose. Technology companies gained 1.2 percent. Health care and consumer discretionary stocks also notched gains of 1 percent. Utilities and telecommunications services stocks fell.

Chipmaker Intel added 62 cents, or 2 percent, to $32.68, while and Apple gained $1.43, or 1.5 percent, to $99.96. Among health care companies, UnitedHealth Group climbed 2.4 percent, the biggest gainer in the Dow Jones industrial average. It added $2.68 to $112.26.

Energy stocks rose 0.4 percent. The sector remains down 8.5 percent this year.

U.S. crude oil fell 97 cents, or 3.1 percent, to $30.44 a barrel in New York. Brent crude, a benchmark for international oils, fell 69 cents, or 2.2 percent, to $30.86 a barrel in London.

Traders continued to take their cue from oil prices by parting with stocks in energy and mining companies.

Freeport-McMoRan lost 20 cents, or 4.6 percent, to $4.11. Consol Energy shed 30 cents, or 4.3 percent, to $6.70.

"The trading in oil is particularly precarious, and because of that, everybody is selling energy-related stocks," Kinahan said. "Nobody wants to be the one holding the bag."

Investors also had their eye on company earnings season, which began Monday and runs for the next several weeks.

Alcoa sank 9 percent after the aluminum manufacturer's earnings included revenue that fell short of Wall Street's expectations. The stock dropped 72 cents to $7.28.

GameStop tumbled 5.1 percent after investors were disappointed with the video game store operator's holiday season sales. The stock lost $1.50 to $27.88.

Health insurers fared a bit better.

Traders bid up shares in Anthem, which rose $7.24, or 5.6 percent, to $135.60, and Aetna, which added $4.08, or 3.9 percent, to $109.15.

European markets moved higher.

Germany's DAX rose 1.6 percent, while the CAC-40 in France rose 1.5 percent. The FTSE 100 index of leading British shares gained 1 percent.

In Asia, China's Shanghai composite closed 0.2 percent higher, recovering some of its losses from the day before. Japan's Nikkei 225 fell 2.7 percent. Hong Kong's Hang Seng shed 0.9 percent, while South Korea's Kospi dropped 0.2 percent.

In metals trading, gold fell $11 to $1,085.20 an ounce, while silver fell 12 cents to $13.75 an ounce. Copper slipped 1 cent to $1.96 a pound.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.11 percent from 2.17 percent late Monday. The euro fell to $1.0851 from $1.0871 a day earlier and the dollar rose to 117.69 yen from 117.53 yen.

In other energy trading in New York, wholesale gasoline fell 2.8 cents to close at $1.085 a gallon, heating oil fell 2.5 cents to 99 cents a gallon and natural gas fell 13.9 cents to $2.257 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-364.81	points or ▼	-2.21%	on	Wednesday, January 13, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,151.41	▼	-364.81	▼	-2.21%		
	Nasdaq____	4,526.06	▼	-159.85	▼	-3.41%		
	S&P_500___	1,890.28	▼	-48.40	▼	-2.50%		
	30_Yr_Bond____	2.85	▼	-0.03	▼	-1.18%		

NYSE Volume	 5,024,490,500 	 	 	 	 	  		 
Nasdaq Volume	 2,435,461,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,960.97	▲	31.73	▲	0.54%		
	DAX_____	9,960.96	▼	-24.47	▼	-0.25%		
	CAC_40__	4,391.94	▲	13.19	▲	0.30%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,041.60	▲	59.40	▲	1.19%		
	Shanghai_Comp	2,949.60	▼	-73.26	▼	-2.42%		
	Taiwan_Weight	7,824.61	▲	56.16	▲	0.72%		
	Nikkei_225___	17,715.63	▲	496.67	▲	2.88%		
	Hang_Seng.__	19,934.88	▲	223.12	▲	1.13%		
	Strait_Times.__	2,696.50	▲	4.72	▲	0.18%		
	NZX_50_Index_	6,151.87	▲	39.52	▲	0.65%		

http://www.bostonglobe.com/business/2016/01/13/dow/peYYNFkDInr6Kq6UtfF6DK/story.html

*Dow closes down more than 360 points*
By Alex Veiga Associated Press  January 13, 2016

It’s been a turbulent ride for stock market investors this year and it got worse Wednesday.

A broad downturn in U.S. stocks on another volatile day for crude oil prices knocked the Standard & Poor’s 500 index down 10 percent from its November peak.

That’s known as a correction on Wall Street, and it’s the second time in less than five months for the S&P 500 index, which is regarded as the bellwether for the stock market.

The Dow Jones industrial average also tumbled, losing more than 300 points before closing within 25 points of its own correction level.

The rocky start to the year reflects mounting worries on Wall Street about a slowdown in the global economy, plunging oil prices and the implications for U.S. companies. It also deepens the pain for many investors after a flat year of returns for the stock market last year.

The S&P 500 index is now down 7.5 percent this year, while the Dow is off 7.3 percent. The Nasdaq is deeper in the red, down 9.6 percent. The Russell 2000, which is composed of small-company stocks, is now down 20 percent from its June peak. That big a plunge is defined as a bear market.

‘‘At the very core of this there’s a bull-bear debate,’’ said Quincy Krosby, market strategist at Prudential Financial. ‘‘Whether or not we’re headed into a recession. That’s the debate. Are we gaining the momentum in the economy to justify the valuation in the market?’’

Energy and consumer stocks bore the brunt of the selling on Wednesday. The price of U.S. crude oil closed slightly higher, but remains near $30 a barrel, a level that investors fear could force many oil and gas company to go bankrupt. Brent crude, the international standard, fell 2 percent.

Some of the biggest winners from last year, such as Netflix and Amazon, both of which doubled in value in 2015, also fell sharply.

‘‘The momentum names that drove this market higher have just been clobbered,’’ Krosby said.

All told, the Dow lost 364.81 points, or 2.2 percent, to 16,151.41. The S&P 500 index fell 48.40 points, or 2.5 percent, to 1,890.28. It was the worst day for the index since Sept. 28.

The Nasdaq slid 159.85 points, or 3.4 percent, to 4,526.06.

All the sectors in the S&P 500 index ended sharply lower, with consumer discretionary stocks faring the worst, down 3.4 percent.

Biotechnology stocks also took a drubbing. The Nasdaq Biotechnology index lost 5.3 percent and is down 17.2 percent this year.

The market was coming off its best day this year and appeared to be headed for more gains early in the day. A report showing that China’s exports fell less than expected in November helped lift the market. The price of crude oil rebounded more than 3 percent in the first hour of regular trading.

The trend didn’t hold for long, however, as oil prices began to swoon following a report showing that demand for fuels slipped last week. Investors also began size up to discouraging earnings outlooks from Ford Motor and auto parts supplier BorgWarner. Ford fell 65 cents, or 5.1 percent, to $12.20. BorgWarner lost $3.56, or 9.5 percent, to $33.84.

Railroad operator CSX and supermarket chain SuperValu also ended lower after the companies reported their latest quarterly results. CSX slid $1.35, or 5.7 percent, to $22.35. SuperValu fell 93 cents, or 15.5 percent, to $5.08.

Benchmark U.S. crude edged up 4 cents to close at $30.48 a barrel in New York. U.S. crude is down 18 percent so far this year. Brent crude, a benchmark for international oils, fell 57 cents, or 1.8 percent, to $30.31 a barrel in London.

Energy companies got hammered despite the rare gain in U.S. crude prices.

Traders are increasingly worried that a plunge in the price of crude to near $30 a barrel will lead to more strain, layoffs and bankruptcies for oil and gas companies.

Williams Cos. tumbled $2.93, or 17.7 percent to $13.61. Consol Energy slid 65 cents, or 9.7 percent, to $6.05. Valero Energy shed $6.16, or 8.7 percent, to $65.03.

In Europe, Germany’s DAX fell 0.2 percent while France’s CAC 40 rose 0.3 percent. The FTSE 100 of leading British shares gained 0.5 percent. In Asia, stocks rallied despite a 2.4 percent drop in the Shanghai Composite. Japan’s Nikkei 225 stock index jumped 2.9 percent while Hong Kong’s Hang Seng gained 1.1 percent. South Korea’s Kospi and Australia’s S&P/ASX 200 added 1.3 percent. Shares in New Zealand and Southeast Asia were mostly higher.

The yield on the 10-year Treasury note fell to 2.07 percent from 2.11 percent late Tuesday. Trading in foreign exchange markets was subdued. The euro was little changed at $1.0857 and the dollar rose to 117.89 yen from 117.58 yen.

Precious and industrial metals futures closed mostly higher. Gold rose $1.90 to $1,087.10 an ounce, silver rose 41 cents to $14.16 an ounce and copper was little changed at $1.96 a pound.

In other energy trading, wholesale gasoline fell 3.2 cents to $1.053 a gallon, heating oil fell 2.1 cents to 96.9 cents a gallon and natural gas rose 1.2 cents to $2.269 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	227.64	points or ▲	1.41%	on	Thursday, January 14, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,379.05	▲	227.64	▲	1.41%		
	Nasdaq____	4,615.00	▲	88.94	▲	1.97%		
	S&P_500___	1,921.84	▲	31.56	▲	1.67%		
	30_Yr_Bond____	2.89	▲	0.04	▲	1.54%		

NYSE Volume	 5,189,850,500 	 	 	 	 	  		 
Nasdaq Volume	 2,517,783,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,918.23	▼	-42.74	▼	-0.72%		
	DAX_____	9,794.20	▼	-166.76	▼	-1.67%		
	CAC_40__	4,312.89	▼	-79.05	▼	-1.80%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,964.10	▼	-77.50	▼	-1.54%		
	Shanghai_Comp	3,007.65	▲	58.05	▲	1.97%		
	Taiwan_Weight	7,742.88	▼	-81.73	▼	-1.04%		
	Nikkei_225___	17,240.95	▼	-474.68	▼	-2.68%		
	Hang_Seng.__	19,817.41	▼	-117.47	▼	-0.59%		
	Strait_Times.__	2,647.85	▼	-48.65	▼	-1.80%		
	NZX_50_Index_	6,109.29	▼	-42.58	▼	-0.69%		

http://abcnews.go.com/Business/wireStory/us-stocks-open-mixed-stabilizing-day-plunge-36286323

*US Stocks Rebound a Day After Plunge, Led by Energy Sector*
By alex veiga, ap business writer
Jan 14, 2016, 4:57 PM ET

 Energy stocks led a broad rally in U.S. stocks Thursday, giving the market its biggest gain in over a month.

A recovery in crude oil prices helped put stocks into rebound mode a day after the market had its worst drop since September. Investors also welcomed some encouraging company earnings.

Chevron and Exxon Mobil each jumped about 5 percent, by far the biggest gains in the Dow Jones industrial average. It was a reprieve for the energy sector, which has been battered in recent months as crude oil prices plunged. U.S. crude oil rose 2.4 percent on Thursday.

"That all led to a little bit of confidence in the markets and some buyers coming in," said Sean Lynch, co-head of global equity for Wells Fargo Investment Institute. "It's been pretty ugly so far, year-to-date, and it's good to see the gains, but we'll see if they follow through (Friday.)"

The Dow rose 227.64 points, or 1.4 percent, to 16,379.05. The average had risen as much as 330 points earlier. The Standard & Poor's 500 index gained 31.56 points, or 1.7 percent, to 1,921.84. The Nasdaq composite added 88.94 points, or 2 percent, to 4,615.

It was the best gain for each index since Dec. 4.

Even with the big rebound day the three major U.S. stock indexes remain down for the year. The Dow and S&P 500 are both off about 6 percent, while the Nasdaq is down nearly 8 percent.

It's been a rocky start to the year for stocks, reflecting investor worries about the slowdown in China, plunging oil prices and the implications those trends may have for U.S. corporations. The first eight trading days of 2016 represent the worst start to a year in the history of both the S&P 500 and the Dow.

That slump worsened on Wednesday, pushing the S&P 500 index into what's known as a correction, or a drop of 10 percent or more from a peak.

On Thursday, after wavering in the first hour of trading, the market shifted higher and remained on an upward track the rest of the day.

Investors welcomed a pickup in the price of crude oil, which had briefly fallen below $30 a barrel for the first time since late 2003 the day before. It ended up rising 72 cents, or 2.4 percent, to close at $31.20 a barrel in New York. Brent crude, a benchmark for international oils, also gained 72 cents, or 2.4 percent, to $31.03 a barrel in London.

The rise in crude oil led traders to pile into several big-name energy companies. Exxon Mobil added $3.47, or 4.6 percent, to $79.12, while Chevron rose $4.14, or 5.1 percent, to $85.47.

"The markets in general needed a little dose of confidence and they got it through a firming of oil prices," Lynch said.

Energy company Williams Cos. vaulted 34.4 percent, to lead all the gainers in the S&P 500. The stock, which had fallen sharply a day earlier, rose $4.68 to $18.29. It's still down 29 percent for the year. Freeport-McMoRan also got a boost. The mining company rose 46 cents, or 12.3 percent, to $4.20.

All told, the S&P 500's energy stocks jumped 4.5 percent. The sector remains down 6.1 percent for the year.

The start of the latest corporate earnings season also helped lift the market Thursday.

JPMorgan Chase rose 1.5 percent after the bank reported earnings that were better than analysts expected. The stock added 86 cents to $58.20.

Some companies provided less encouraging updates.

Best Buy slid 9.7 percent after the electronics store operator reported a drop in sales during the holiday season. The company also said it expects a wider drop in fourth-quarter revenue, partly on weak mobile phone and personal device sales. The stock was the biggest decliner in the S&P 500 index. It shed $2.83 to $26.43.

Investors may get more insight into how the U.S. economy and Corporate America are doing on Friday. Reports on consumer sentiment, retail sales and manufacturing are due out. Several big banks, including Citigroup and Wells Fargo, are also scheduled to release quarterly earnings.

In Europe, Germany's DAX dropped 1.7 percent and France's CAC 40 slid 1.8 percent. The FTSE 100 index of leading British shares was 0.7 percent lower. In Asia, Japan's benchmark Nikkei 225 dived 2.7 percent, South Korea's Kospi fell 0.9 percent and Hong Kong's Hang Seng lost 0.6 percent. The Shanghai Composite rebounded nearly 2.0 percent.

Precious and industrial metals future closed mixed. Gold lost $13.50 to $1,073.60 an ounce, silver fell 41 cents to $13.75 an ounce and copper rose 2 cents to $1.98 a pound.

In other energy trading, wholesale gasoline rose 1.6 cents to $1.068 a gallon, heating oil rose 1.1 cents to 98.1 cents a gallon, and natural gas fell 13 cents to $2.139 per 1,000 cubic feet.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.10 percent from 2.09 percent late Wednesday.

In currency trading, the euro fell to $1.0862 from $1.0876, while the dollar rose to 118.15 yen from 117.78 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-390.97	points or ▼	-2.39%	on	Friday, January 15, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	15,988.08	▼	-390.97	▼	-2.39%		
	Nasdaq____	4,488.42	▼	-126.59	▼	-2.74%		
	S&P_500___	1,880.33	▼	-41.51	▼	-2.16%		
	30_Yr_Bond____	2.81	▼	-0.08	▼	-2.73%		

NYSE Volume	 5,431,198,000 	 	 	 	 	  		 
Nasdaq Volume	 2,644,658,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,804.10	▼	-114.13	▼	-1.93%		
	DAX_____	9,545.27	▼	-248.93	▼	-2.54%		
	CAC_40__	4,210.16	▼	-102.73	▼	-2.38%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,948.50	▼	-15.60	▼	-0.31%		
	Shanghai_Comp	2,900.97	▼	-106.68	▼	-3.55%		
	Taiwan_Weight	7,762.01	▲	19.13	▲	0.25%		
	Nikkei_225___	17,147.11	▼	-93.84	▼	-0.54%		
	Hang_Seng.__	19,520.77	▼	-296.64	▼	-1.50%		
	Strait_Times.__	2,630.76	▼	-13.81	▼	-0.52%		
	NZX_50_Index_	6,169.09	▲	59.80	▲	0.98%		

http://finance.yahoo.com/news/global-stock-markets-slide-oil-falls-below-30-152432299.html

*Stock market slides again; worst two-week start to a year*
Associated Press By ALEX VEIGA

Never before has Wall Street gotten off to a worse start to a year.

The stock market capped the first two weeks of 2016 with a steep slide Friday that sent the Dow Jones industrial average down nearly 400 points.

All three major stock indexes — the Dow, the Nasdaq composite and the Standard & Poor's 500 — are now in what's known as a correction, or a drop of 10 percent or more from their recent peaks.

The market has been on a stomach-churning ride since the start of the year, wrenched up — but mostly down — because of alarm over a slowdown in China and the plunging price of oil to its lowest level in 12 years. Investors are already seeing damage to U.S. corporate profits, particularly at energy companies.

The Dow slid 390.97 points, or 2.4 percent, to 15,988.08. The average had been down more than 500 points early in the afternoon. The S&P 500 ended down 41.51 points, or 2.2 percent, at 1,880.33. The Nasdaq dropped 126.59 points, or 2.7 percent, to 4,488.42.

The Dow and S&P 500 have now fallen about 8 percent this year, while the Nasdaq is off about 10 percent.

"Oil is the root cause of today," said Dan Farley, regional investment strategist at the Private Client Reserve at U.S. Bank. "People are uncertain, and when they're uncertain they're scared."

Crude oil has dropped below $30 a barrel from a high of over $100 during the summer of 2014, eviscerating energy company profits. On Friday, Williams Cos. led a slide among oil, gas and mining companies, falling $2.19, or 12 percent, to $16.10.

Investors also got some discouraging economic news on Friday: The Federal Reserve said U.S. industrial production, which includes manufacturing, mining and utilities, dropped in December for the third month in a row. And another government report indicated U.S. retail sales dipped last month.

Many investors had welcomed the new year with fairly high hopes. They expected oil prices would stabilize. After a market correction in August, few forecast it would happen again so soon. And the Federal Reserve's move in December to raise interest rates for the first time in nearly 10 years signaled to many that the U.S. economy was healthy.

"The hope was global growth would stabilize, and early in 2016 here, that has been a disappointment, too," said David Chalupnik, head of equities at Nuveen Asset Management.

Despite the rough start to the year, Wall Street watchers are not ready to say the bull market is over.

"We don't believe we're going into a bear market," Chalupnik said. "The reason for that is the U.S. economy is sound."

Intel dropped 9.1 percent after the chipmaker posted its fourth-quarter results, noting its personal computer business continues to slump. The stock was the biggest decliner in the Dow. It fell $2.98 to $29.76.

Benchmark U.S. crude fell $1.78, or 5.7 percent, to $29.42 a barrel in New York. Brent crude, a benchmark for international oils, fell $1.94, or 6.3 percent, to $28.94 a barrel in London.

Stocks opened higher in Europe but quickly fell. Germany's DAX lost 2.5 percent, while France's CAC 40 dropped 2.4 percent. Britain's FTSE 100 fell 1.9 percent.

In China, the Shanghai Composite Index slid 3.6 percent to its lowest close in 13 months. China's official Xinhua News Agency reported that new bank loans during the last month fell from a year earlier, another sign that the country's economic growth is slowing from the torrid pace of the past few years.

Hong Kong's Hang Seng dropped 1.5 percent. Japan's Nikkei 225 lost 0.5 percent and South Korea's Kospi 1.1 percent.

In other energy trading, wholesale gasoline fell 5 cents to close at $1.02 a gallon, heating oil fell 5 cents to close at 93 cents a gallon, and natural gas fell 4 cents to close at $2.10 per one thousand cubic feet.

Precious and industrial metals futures closed mixed. Gold rose $17.10 to $1,090.70 an ounce, silver gained 15 cents to $13.90 an ounce and copper fell 3 cents to $1.94 a pound.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.03 percent from 2.09 percent late Thursday. The euro rose to $1.0911 from $1.0862, while the dollar fell to 117.05 yen.

6754


----------



## bigdog

Source: http://finance.yahoo.com 

*NYSE closed Monday January 18 2016 for Martin Luther King, Jr. Day*

 *The NYSE DOW closed  	LOWER ▼	-390.97	points or ▼	-2.39%	on	Monday, January 18, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	15,988.08	▼	-390.97	▼	-2.39%	CLOSED HOLIDAY	
	Nasdaq____	4,488.42	▼	-126.59	▼	-2.74%	CLOSED HOLIDAY		
	S&P_500___	1,880.33	▼	-41.51	▼	-2.16%	CLOSED HOLIDAY		
	30_Yr_Bond____	2.81	▼	-0.08	▼	-2.73%	CLOSED HOLIDAY		

NYSE Volume	 5,445,890,500 	CLOSED HOLIDAY	 	 	 	 	  		 
Nasdaq Volume	 2,772,884,500 		CLOSED HOLIDAY						

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,779.92	▼	-24.18	▼	-0.42%		
	DAX_____	9,521.85	▼	-23.42	▼	-0.25%		
	CAC_40__	4,189.57	▼	-20.59	▼	-0.49%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,911.80	▼	-36.70	▼	-0.74%		
	Shanghai_Comp	2,913.84	▲	12.87	▲	0.44%		
	Taiwan_Weight	7,811.18	▲	49.17	▲	0.63%		
	Nikkei_225___	16,955.57	▼	-191.54	▼	-1.12%		
	Hang_Seng.__	19,237.45	▼	-283.32	▼	-1.45%		
	Strait_Times.__	2,597.79	▼	-32.97	▼	-1.25%		
	NZX_50_Index_	6,101.44	▼	-67.65	▼	-1.10%		

https://au.finance.yahoo.com/news/international-markets-roundup-201011947.html

*International markets roundup*

A roundup of trading on major world markets:

NEW YORK - New York markets were closed for the Martin Luther King public holiday.

LONDON - Britain's top share index has fallen to its lowest closing level in more than three years, with miners down on lingering concerns about metals demand and UK banks mirroring losses seen by Italian financials.

The blue-chip FTSE 100 equity index finished 0.4 per cent lower at 5,779.92 points on Monday, its lowest closing level since late 2012. The UK mining index fell 0.4 per cent, while the banking index was down 1.4 per cent.

"UK banks have pulled the index down on account of heavy losses seen by their Italian counterparts. Markets are still in a downtrend because of worries about China and no improvement in the supply-demand dynamics of the oil market," Mike van Dulken, head of research at Accendo Markets, said.

Banks featured among the top decliners, with Standard Chartered, Barclays and HSBC falling 1.2 to 2.2 per cent, after losses in Italian banks.

The FTSE 100 index has slipped more than seven per cent since the start of 2016 after dropping nearly five per cent in 2015. Growing concerns about the pace of economic growth in China, the world's biggest metals consumer, and falling commodity prices have hit investor sentiment.

"The year has got off to a miserable start and many investors will be looking to trim their positions in order to protect profits, leading to an unpleasant feedback loop that could see last week's break of key support militate into something far more negative," IG analyst Chris Beauchamp said.

HONG KONG - Asian shares slid to their lowest levels since 2011 after weak US economic data and a massive fall in oil prices stoked further worries about a global economic downturn.

Spreadbetters expected a subdued open for European shares, forecasting London's FTSE to open modestly higher while seeing Germany's DAX and France's CAC to start flat-to-slightly-weaker.

MSCI's broadest index of Asia-Pacific shares outside Japan fell to its lowest since October 2011 and was last down 0.5 per cent.

Japan's Nikkei tumbled as much as 2.8 per cent to a one-year low. It has lost 20 per cent from its peak hit in June, meeting a common definition of a bear market.

MSCI's emerging stock index dropped to a six-and-a-half-year low on Monday, and was last down 0.3 per cent on the day.

The volatile Shanghai Composite index initially pierced through intraday lows last seen in August before paring the losses and closing up 0.4 per cent. It was still down nearly 18 per cent in January.

But, the Hang Seng fell 1.45 per cent, or 283.32 points, to 19,237.45.

WELLINGTON - The S&P/NZX 50 Index dropped 67.65 points, or 1.1 per cent, to 6101.44.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	27.94	points or ▲	0.17%	on	Tuesday, January 19, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,016.02	▲	27.94	▲	0.17%		
	Nasdaq____	4,476.95	▼	-11.47	▼	-0.26%		
	S&P_500___	1,881.33	▲	1.00	▲	0.05%		
	30_Yr_Bond____	2.80	▼	-0.01	▼	-0.32%		

NYSE Volume	 4,843,389,000 	 	 	 	 	  		 
Nasdaq Volume	 2,325,465,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,876.80	▲	96.88	▲	1.68%		
	DAX_____	9,664.21	▲	142.36	▲	1.50%		
	CAC_40__	4,272.26	▲	82.69	▲	1.97%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,955.10	▲	43.30	▲	0.88%		
	Shanghai_Comp	3,007.74	▲	93.90	▲	3.22%		
	Taiwan_Weight	7,854.88	▲	43.70	▲	0.56%		
	Nikkei_225___	17,048.37	▲	92.80	▲	0.55%		
	Hang_Seng.__	19,635.81	▲	398.36	▲	2.07%		
	Strait_Times.__	2,638.47	▲	45.47	▲	1.75%		
	NZX_50_Index_	6,124.20	▲	22.76	▲	0.37%		

http://finance.yahoo.com/news/financial-stocks-lead-early-gain-wall-street-153233241.html
*
US stocks rise in shaky trading, led by utilities*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- U.S. stocks struggled through a turbulent afternoon day of trading Tuesday and eked out small gains, led by utility and consumer stocks. The price of crude oil continued to fall, and energy and mining stocks tumbled.

Stocks in Asia and Europe had rallied earlier in the day as investors were satisfied with China's fourth-quarter economic growth. The Dow Jones industrial average rose as much as 183 points in the first minutes of trading Tuesday. The gains faded in the afternoon before a late spurt of buying in the last half hour sent indexes mostly higher.

The Dow Jones industrial average rose 27.94 points, or 0.2 percent, to 16,016.02. The Standard & Poor's 500 index rose one point to 1,881.33. The Nasdaq composite index fell 11.47 points, or 0.3 percent, to 4,476.95. Major indexes had plunged Friday, and the Dow and S&P 500 are coming off their worst opening weeks of a year in history.

The Chinese government's report confirmed that the world's second-largest economy is slowing, as annual growth hit a 25-year low in 2015. That can affect demand for everything from energy to metals to consumer goods and heavy machinery. Fears about a slowdown in China, and how abrupt and painful it might be, has helped knock oil prices to 12-year lows.

Safe-play stocks like utilities and telecommunications companies rose the most. AT&T added 52 cents, or 1.5 percent, to $34.51 and NextEra Energy gained $2.55, or 2.4 percent, to $107.81. Consumer goods maker Procter & Gamble, the maker of Tide detergent and Charmin toilet paper, gained $1.75, or 2.3 percent, to $76.73.

U.S. crude fell 96 cents, or 3.3 percent, to close at $28.46 a barrel in New York. Brent crude, a benchmark for international oils, rose 21 cents to close at $28.76 a barrel in London.

Energy stocks continued to fall on concerns about reduced worldwide demand. Chesapeake Energy lost 48 cents, or 13.5 percent, to $3.08. Marathon Oil fell 46 cents, or 5.7 percent, to $7.68.

The price of gold fell $1.60 to $1,089.10 an ounce. Silver rose 22.5 cents, or 1.6 percent, to $14.121 an ounce. Copper gained 3.4 cents, or 1.7 percent, to $1.978 a pound. Gold miner Newmont Mining lost $1.39, or 7.9 percent, to $16.31 and copper producer Freeport-McMoRan gave up 39 cents, or 9 percent, to $3.96. Freeport-McMoRan shares have skidded 41.5 percent in 2016.

Delta Air Lines reported a bigger fourth-quarter profit because of falling fuel prices. Delta said it expects fuel to be even less expensive in the first quarter. Its shares rose $1.46, or 3.3 percent, to $45.96. Health insurer UnitedHealth Group posted stronger-than-expected results in the fourth quarter. Its stock rose $3.31, or 3 percent, to $112.58.

Netflix surged aftermarket as the company's net income surpassed analyst forecasts and its international subscriber growth was stronger than Netflix had expected. Netflix's stock surged 8 percent in extended trading to $116.75.

Jewelry retailer Tiffany fell after reporting that sales dropped in the fourth quarter and said it will eliminate some jobs. The company also forecast minimal earnings and sales growth in 2016. The stock lost $3.43, or 5.1 percent, to $64.22.

So far not a single U.S. company has gone public this year, according to Kathy Smith of Renaissance Capital, a manager of IPO-focused exchange-traded funds. That should change this week, as Elevate Capital, which offers credit and related services to people with below-average credit, is expected to start trading Friday. But Smith said only two companies will go public this month. There were also just two IPOs in December, the fewest in any month since October 2011.

"The IPO market is pretty close to being closed," Smith said.

Companies are reluctant to go public when the market is weak, and the companies that did go public last year weren't rewarded for it: Smith says the companies that completed their IPOs in 2015 are down an average of 17 percent from their offering prices.

France's CAC 40 rose 2 percent and Germany's DAX added 1.5 percent. Britain's FTSE 100 gained 1.7 percent. China's Shanghai Composite surged 3.2 percent and Hong Kong's Hang Seng gained 2.1 percent. Japan's Nikkei 225 inched up 0.5 percent.

The U.S. dollar slipped to 117.44 yen from 117.50 yen on Monday. The euro rose to $1.0923 from $1.0885. Bond prices slipped. The yield on the 10-year Treasury note, which has slumped this year, rose to 2.05 percent from at 2.04 percent.

In other trading of energy futures, the price of wholesale gasoline inched up 0.5 cents to $1.026 a gallon. Heating oil fell 2.6 cents to 90.9 cents a gallon. Natural gas slipped 0.9 cents to $2.091 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-249.28	points or ▼	-1.56%	on	Wednesday, January 20, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	15,766.74	▼	-249.28	▼	-1.56%		
	Nasdaq____	4,471.69	▼	-5.26	▼	-0.12%		
	S&P_500___	1,859.33	▼	-22.00	▼	-1.17%		
	30_Yr_Bond____	2.76	▼	-0.05	▼	-1.68%		

NYSE Volume	 6,373,892,500 	 	 	 	 	  		 
Nasdaq Volume	 3,132,380,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,673.58	▼	-203.22	▼	-3.46%		
	DAX_____	9,391.64	▼	-272.57	▼	-2.82%		
	CAC_40__	4,124.95	▼	-147.31	▼	-3.45%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,896.90	▼	-58.20	▼	-1.17%		
	Shanghai_Comp	2,976.69	▼	-31.05	▼	-1.03%		
	Taiwan_Weight	7,699.12	▼	-155.76	▼	-1.98%		
	Nikkei_225___	16,416.19	▼	-632.18	▼	-3.71%		
	Hang_Seng.__	18,886.30	▼	-749.51	▼	-3.82%		
	Strait_Times.__	2,559.77	▼	-78.70	▼	-2.98%		
	NZX_50_Index_	6,113.72	▼	-10.48	▼	-0.17%		

http://finance.yahoo.com/news/cheap-oil-good-consumers-slamming-211654295.html

*Cheap oil, good for consumers, is slamming stocks. Why?

A plunging price of oil is dragging stock markets to their worst start to a year ever, even though low fuel prices are great for consumers and most companies *
Associated Press By Ken Sweet and David Koenig, AP Business Writers

NEW YORK (AP) -- Wall Street is drowning in oil.

Stocks are having their worst start to a year in history in part because of a rapid plunge in the price of oil. The price of crude is down 28 percent this year already, which in turn has dragged down energy company shares in the Standard & Poor's 500 index by 13 percent, which has helped pull the overall index down 9 percent.

This even though low oil prices — and the cheap prices for gasoline and other fuels that result — are wonderful for consumers and many companies.

"It seems ironic that in the run-up to the global financial crisis we were worried about oil prices being too high in 2007 and 2008. Now we're worried about them being too low," said Julian Jessop, head of commodities research with London-based researchers Capital Economics Ltd.

The drastic drop in oil and stock prices stands in contrast with a U.S. economy that, on the whole, is doing pretty well. U.S employers created 292,000 jobs in December, and few economists see the economy sliding into recession.

Here's what experts think is going on.

WHY IS OIL SO LOW?

Because there is so much of it.

A long run of high oil prices inspired drillers to develop new techniques and to go to new places to find more oil, and they succeeded. In the U.S. improved oil drilling technologies known generally as fracking have added more oil to the global market than the total production of any other nation in OPEC other than Saudi Arabia.

Producers in the U.S. and abroad haven't cut back production very much, despite the low prices, and now the lifting of international sanctions against Iran could send more oil flowing into markets that are already awash in crude.

U.S. stockpiles are at their highest level in at least 80 years, and the International Energy Agency predicts that during the first half of this year global oil supply could outstrip demand by 1.5 million barrels per day.

Demand for crude has been growing steadily, but that may not last because economic growth in China, the world's second-largest oil consumer after the U.S., is slowing.

WHY DO LOW OIL PRICES HURT THE STOCK MARKET?

Oil company profits are plummeting, so oil company shares are plummeting, and that is dragging down the whole market.

Analysts estimate that profit for all S&P 500 companies in total are on track to be down a recession-like 5.8 percent for 2015. But if energy companies were removed from that figure, S&P 500 profits would be up a very healthy 5.7 percent for the full year.

That profit drop directly leads to lower share prices that drag down entire indexes. Two of the biggest oil companies in the world, Exxon and Chevron, are part of the 30-member Dow Jones industrial average. Of the 20 biggest share price losers in the S&P 500 this year, 13 are energy companies.

Investors are also selling shares of companies that may have exposure to the oil industry, like certain banks. And the price of oil has now fallen so low that investors are also worried that it could mean global economic growth is much weaker than expected, which could hurt all companies.

AREN'T LOWER OIL PRICES A GOOD THING FOR THE ECONOMY?

It depends on why prices are lower.

If they fall because new supplies have been found, it usually helps the broader economy, and markets held up fairly well during oil's big slide from over $100 a barrel in 2014 to under $50 a barrel last year.

"In the long run, lower oil prices should be positive or at worst neutral for the world economy because all they're really doing is transferring income from oil producers to oil consumers," Jessop says.

But this latest plunge in prices to under $30 a barrel has investors worried that oil prices are falling because global growth is slowing, as businesses and consumers in many developing countries, particularly China, cut back on spending. Bruce Kasman, chief economist at JPMorgan Chase, says that steep drops in oil prices have historically been a sign of a weakening global economy.

Also, U.S. consumers have remained cautious about spending the money they aren't putting into their gas tanks, which limits the benefit to the broader economy. Americans saved 5.5 percent of their incomes in November, up nearly a full percentage point from a year earlier.

Kasman estimates that U.S. spending grew at a tepid pace of just 1.5 percent in the final three months of last year. "There's no doubt that the consumer spending growth figures for the U.S., Europe and Japan have disappointed," he said.

Some of that likely reflected a temporary drag from warm weather, as Americans spent less on winter clothing and utilities. That could turn around in the first quarter, giving the economy a lift, Kasman said.

Delta Air Lines told investors this week that bookings for this spring are ahead of last year's pace because cheaper gasoline means consumers have more money.

COULD THIS LEAD TO BROADER TURMOIL, THE WAY THE SUBPRIME MORTGAGE CRISIS DID?

It is already having some ripple effects, but the energy market isn't nearly as big or far-reaching as the housing market.

When oil prices were high, lots of banks, including some of the biggest on Wall Street, made loans to energy companies to finance drilling in North Dakota, Texas and elsewhere. Dealogic estimates that the oil and gas industry has roughly $500 billion in outstanding debt. According to the Federal Reserve, there is $11 trillion in outstanding residential mortgage debt.

Still, some are feeling it. Oil company cash flow is slowing, and companies are finding it harder to repay their loans. Oil and gas company bankruptcies are rising, and the entire market for so-called junk bonds has been shaken as a result of energy company defaults.

JPMorgan Chase, Wells Fargo, Citigroup and Bank of America all had to write down the value of energy loans or set aside more money to cover losses. BofA executives told investors this week that energy loans were roughly 2 percent of its total loans. Smaller regional banks could to be more exposed relatively than the big Wall Street banks.

IS THERE AN OIL PRICE THAT WOULD BE GOOD FOR THE MARKET AND CONSUMERS?

Jessop thinks that a price of about $60 a barrel would do the trick. "High enough to keep the main producers in business but low enough to provide a real boost to the incomes of consumers," he says. He expects prices to return to that level by the end of next year as oil companies pare back exploration and the glut is worked off.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	115.94	points or ▲	0.74%	on	Thursday, January 21, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	15,882.68	▲	115.94	▲	0.74%		
	Nasdaq____	4,472.06	▲	0.37	▲	0.01%		
	S&P_500___	1,868.99	▲	9.66	▲	0.52%		
	30_Yr_Bond____	2.80	▲	0.04	▲	1.45%		

NYSE Volume	 5,042,176,500 	 	 	 	 	  		 
Nasdaq Volume	 2,406,565,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,773.79	▲	100.21	▲	1.77%		
	DAX_____	9,574.16	▲	182.52	▲	1.94%		
	CAC_40__	4,206.40	▲	81.45	▲	1.97%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,917.60	▲	20.70	▲	0.42%		
	Shanghai_Comp	2,880.48	▼	-96.21	▼	-3.23%		
	Taiwan_Weight	7,664.01	▼	-35.11	▼	-0.46%		
	Nikkei_225___	16,017.26	▼	-398.93	▼	-2.43%		
	Hang_Seng.__	18,542.15	▼	-344.15	▼	-1.82%		
	Strait_Times.__	2,530.17	▼	-29.60	▼	-1.16%		
	NZX_50_Index_	6,080.90	▼	-32.82	▼	-0.54%		

http://www.usnews.com/news/business...slightly-higher-as-crude-oil-price-stabilizes

*Stocks rise a day after a sharp decline triggered by a slump oil prices*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) ”” Stocks rose Thursday and recovered some of their steep losses from the day before. The price of oil also recovered from a big decline. That lifted energy companies, which have been struggling as energy prices tumble.

European markets also rose on hopes the European Central Bank will do more to aid the region's economy.

In the U.S., energy stocks climbed as oil prices bounced back from their worst day in four months, and strong earnings from Verizon lifted telecom stocks. Blue chip stocks did better than the rest of the market. The Dow Jones industrial average had its second-best day of 2016.

The Dow added 115.94 points, or 0.7 percent, to 15,882.68. The Standard & Poor's 500 index rose 9.66 points, or 0.5 percent, to 1,868.99. The Nasdaq composite index added less than half a point and closed at 4,472.06.

Stocks were on pace for much larger gains earlier in the day. The Dow was up 272 points shortly after noon, which would have canceled out Wednesday's loss.

U.S. crude rose $1.18, or 4.2 percent, to close at $29.53 a barrel in New York. On Wednesday U.S. crude took its biggest one-day loss since September. Brent crude, a benchmark for international oils, rose $1.37, or 4.9 percent, to $29.25 a barrel in London.

Energy stocks have crumbled as the price of oil fell from $100 a barrel in mid-2014. The price of oil is the lowest it's been since 2003.

Natural gas company Southwestern Energy jumped after saying it will eliminate around 1,100 jobs, or 44 percent of its work force, in the next few months. Its shares added $1.42, or 19.2 percent, to $8.80. Coal and natural gas company Consol Energy surged 97 cents, or 19.1 percent, to $6.04. Pipeline company Kinder Morgan rose $1.87, or 15.6 percent, to $13.88.

Consol and Southwestern were the second- and third-worst performing S&P 500 stocks in 2015.

European Central Bank head Mario Draghi said the ECB will consider using more stimulus measures at its next meeting in March as it tries to bolster the European economy. The prospect of more stimulus sent the euro down to $1.0875 from $1.0894 late Wednesday.

The ECB has been buying government-backed bonds as part of its efforts to stimulate the region's economy. Yields on 10-year bonds issued by European countries dropped following Draghi's remarks. That suggests investors expect government bond prices to rise further.

European stock indexes also rose. Britain's FTSE 100 increased 1.8 percent, Germany's DAX climbed 1.9 percent and France's CAC gained 2 percent.

David Lefkowitz, senior equity strategist at UBS Wealth Management, said the ECB is responding to the current turmoil in the markets while the Fed wants to keep raising interest rates and Chinese economic policy seems to be in disarray.

Lefkowitz thinks the market could get another lift next week if the Fed acknowledges the turbulent state of the markets at its January meeting. The Fed raised interest rates for the first time in almost a decade in December, and Lefkowitz said investors are hoping for signs the Fed plans to go slowly.

"At least one of the major central banks is willing to be ... more pragmatic and recognize that when facts change, you may need to revisit your policies," he said.

Telecom stocks rose after Verizon, the largest U.S. cellphone carrier, said it turned a profit in the fourth quarter and held on to more customers. Its shares gained $1.45, or 3.3 percent, to $45.87. AT&T shares added 64 cents, or 1.9 percent, to $34.54.

Consumer stocks also gained ground. Wal-Mart rose $1.04, or 1.7 percent, to $61.88. It's the only Dow component that has risen this year, though it's up only 1 percent. Department store operator Nordstrom picked up $1.64, or 3.6 percent, to $47.74 and Home Depot gained $3.76, or 3.2 percent, to $120.22


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	210.83	points or ▲	1.33%	on	Friday, January 22, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,093.51	▲	210.83	▲	1.33%		
	Nasdaq____	4,591.18	▲	119.12	▲	2.66%		
	S&P_500___	1,906.90	▲	37.91	▲	2.03%		
	30_Yr_Bond____	2.82	▲	0.02	▲	0.82%		

NYSE Volume	 4,872,069,500 	 	 	 	 	  		 
Nasdaq Volume	 2,120,914,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,900.01	▲	126.22	▲	2.19%		
	DAX_____	9,764.88	▲	190.72	▲	1.99%		
	CAC_40__	4,336.69	▲	130.29	▲	3.10%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,969.60	▲	52.00	▲	1.06%		
	Shanghai_Comp	2,916.56	▲	36.08	▲	1.25%		
	Taiwan_Weight	7,756.18	▲	92.17	▲	1.20%		
	Nikkei_225___	16,958.53	▲	941.27	▲	5.88%		
	Hang_Seng.__	19,080.51	▲	538.36	▲	2.90%		
	Strait_Times.__	2,577.09	▲	44.39	▲	1.75%		
	NZX_50_Index_	6,121.61	▲	40.71	▲	0.67%		

http://finance.yahoo.com/news/us-stocks-join-global-rally-153102948.html#

*Energy stocks lead a broad rally as the price of oil soars*
Associated Press By MARLEY JAY

NEW YORK (AP) — U.S. stocks made their biggest gain in more than a month on Friday as oil prices surged, lifting energy stocks. Tech stocks also climbed as Apple shares had their day since August.

Energy companies soared after the price of U.S. crude jumped 9 percent. Oil prices reached their lowest level in 12 years earlier this week, but they jumped Thursday and Friday.

The Dow Jones industrial average rose 210.83 points, or 1.3 percent, to 16,093.51. The Standard & Poor's 500 index had its best day since early December, gaining 37.91 points, or 2 percent, to 1,906.90. The Nasdaq composite index made its biggest gain since September, adding 119.12 points, or 2.7 percent, to 4,591.18.

The markets rose this week for the first time in four weeks as the prospect of economic stimulus in Europe helped put investors in a buying mood, following a dismal beginning to the new year. In Japan, the Nikkei 225 index had its best day in four months as investors hoped the Bank of Japan will also step in.

This week's gains didn't look likely on Wednesday, when stocks nosedived along with energy prices. At one point the Dow tumbled 565 points. Since the first two weeks of this year were its worst opening to a year in history.

While the two-day surge may have investors hoping the worst is behind them, Jim Paulsen, chief investment strategist for Wells Capital Management, said he still thinks the S&P 500 will slide to around 1,800 before a real recovery comes. That's below even the darkest moments from Wednesday's swoon.

"It's going to continue to be a struggle," he said. "Everyone will be convinced we're heading for recession, everyone will be convinced we're in a bear market."

There was little trace of that view on Friday. U.S. crude rose $2.66 to $32.19 a barrel in New York. Brent crude, a benchmark for international oils, rose $2.93, or 10 percent, to $32.18 a barrel in London. U.S. oil climbed 21 percent over the last two days and it has recovered about half its losses from earlier in the year.

Pipeline operator Kinder Morgan rose $1.46, or 10.5 percent, to $15.34 after it jumped 16 percent Thursday. Pipeline company Williams Cos. added $3.70, or 23.1 percent, to $19.74. Devon Energy gained $1.45, or 6 percent, to $25.63.

Goldman Sachs analyst Jeffrey Currie said energy prices have fallen so far that the industry is making real cuts in production. "We are now at a price level that is creating real fundamental change," he said.

Low energy prices are good for many industries and consumers, but investors have gotten nervous that falling energy prices foretell a big slowdown in the global economy. Currie said it will take a long time for the market to recover from the huge decline in energy prices. But he said prices are down because of a supply glut, not because demand is collapsing.

Shares of Apple, which have lost about a quarter of their value in the last six months, rose $5.12, or 5.3 percent, to $101.42. Microsoft gained $1.81, or 4 percent, to $52.29. Facebook added $3.78, or 4 percent, to $97.94 and Alphabet added $18.79, or 2.6 percent, to $745.46.

On Friday European Central Bank head Mario Draghi said the bank has a lot of options to boost inflation and is determined and willing to act. On Thursday Draghi suggested the ECB will consider more stimulus action at its next meeting in March.

France's CAC 40 added 3.1 percent and Germany's DAX rose 2 percent. Britain's FTSE 100 climbed 2.2 percent.

Japan's Nikkei 225 index rose 5.9 percent. Earlier this week the index entered a bear market, meaning it was down 20 percent from a recent peak. South Korea's Kospi gained 2.1 percent and Hong Kong's Hang Seng added 2.9 percent. The Shanghai Composite Index in mainland China climbed 1.3 percent.

Telecommunications and utilities stocks also rose and turned positive for the year. They're both up 1 percent while the other eight industrial sectors in the S&P 500 are much lower in 2016. Last year the S&P 500 utility index fell 8 percent and telecom stocks fell 2 percent.

Paulsen, chief investment strategist for Wells Capital Management, said investors turn to utilities and telecom stocks when the market gets rough. Companies in those industries pay relatively large dividends, which means their prices are more stable and the stocks behave almost like bonds.

"They are just the most conservative sector of the stock market," he said.

Credit card company American Express gave a very negative outlook for 2016 and 2017. The company expects its earnings per share to fall this year even though it's selling credit card accounts tied a co-branded credit card it offers with Costco. That relationship is ending.

The stock fell $7.58, or 12.1 percent, to $55.06, its biggest loss in almost seven years. American Express is a Dow component, and that loss caused the Dow to lag the other major U.S. indexes.

Gold and copper producer Freeport-McMoRan tumbled 39 cents, or 9.1 percent, to $3.94. Its shares have dropped 42 percent in 2016 after huge plunges the previous two years. The company has struggled as metals prices have fallen, and its decision a few years ago to invest in oil and gas came shortly before those prices also plunged.

The largest oilfield services company in the world said it cut 10,000 jobs in the fourth quarter after eliminating some 20,000 earlier in 2015. However Schlumberger said it will buy back $10 billion in stock. Its share price has fallen 25 percent over the last year. The stock rose $3.7, or 6.1 percent, to $65.20.

In other energy trading, wholesale gas added 5.3 cents, or 5.1 percent, to $1.084 a gallon. Heating oil picked up 9.8 cents, or 10.9 percent, to 99.6 cents a gallon. Natural gas inched up to $2.139 per 1,000 cubic feet.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.05 percent from 2.03 percent a day earlier.

The price of gold fell $1.90 to $1,096.30 an ounce and silver fell 3.7 cents to $14.06 an ounce. Copper rose 0.6 cents to $2.003 a pound.

The dollar rose to 118.78 yen from 117.50 on Thursday. The euro weakened on the prospect of further ECB stimulus. It fell to $1.0791 from $1.0875.

7305


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-208.29	points or ▼	-1.29%	on	Monday, January 25, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	15,885.22	▼	-208.29	▼	-1.29%		
	Nasdaq____	4,518.49	▼	-72.69	▼	-1.58%		
	S&P_500___	1,877.08	▼	-29.82	▼	-1.56%		
	30_Yr_Bond____	2.80	▼	-0.02	▼	-0.64%		

NYSE Volume	 4,207,917,000 	 	 	 	 	  		 
Nasdaq Volume	 1,900,680,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,877.00	▼	-23.01	▼	-0.39%		
	DAX_____	9,736.15	▼	-28.73	▼	-0.29%		
	CAC_40__	4,311.33	▼	-25.36	▼	-0.58%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,057.10	▲	87.50	▲	1.76%		
	Shanghai_Comp	2,938.51	▲	21.95	▲	0.75%		
	Taiwan_Weight	7,894.15	▲	137.97	▲	1.78%		
	Nikkei_225___	17,110.91	▲	152.38	▲	0.90%		
	Hang_Seng.__	19,340.14	▲	259.63	▲	1.36%		
	Strait_Times.__	2,582.64	▲	5.55	▲	0.22%		
	NZX_50_Index_	6,175.24	▲	53.63	▲	0.88%		

http://finance.yahoo.com/news/us-stocks-slide-energy-prices-165940232.html
*
Stocks slip as oil skids 6 percent, hitting energy companies

US stocks close lower as energy prices fall after a big jump last week*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- U.S. stocks fell Monday as the price of oil slumped again, giving up some of the ground it gained late last week. That forced energy companies lower.

The stock market opened lower and stayed in the red all day. The selling accelerated in the last hour of trading. The biggest losses came in the energy sector and companies that make chemicals and paper goods

The Dow Jones industrial average fell 208.29 points, or 1.3 percent, to 15,885.22. The Standard & Poor's 500 index shed 29.82 points, or 1.6 percent, to 1,877.08. The Nasdaq composite index lost 72.69 points, or 1.6 percent, to 4,518.49.

Plunging oil prices have been decimating profits at energy companies and getting investors worried that the global economy is slowing down. Companies that mine metals, especially copper, face the same problem. Low oil prices are also hurting banking stocks because some banks hold large amounts of loans from energy companies, and investors fear they may not get paid back.

The price of benchmark U.S. crude fell $1.85, or 5.7 percent, to $30.34 a barrel in New York. Brent crude, a benchmark for international oils, lost $1.68, or 5.2 percent, to $30.50 a barrel in London. U.S. oil jumped 9 percent Friday after setting 12-year lows earlier in the week.

Exxon Mobil lost $2.59, or 3.4 percent, to $73.98 and Chevron fell $2.65, or 3.2 percent, to $80.89. Chesapeake Energy lost 56 cents, or 16 percent, to $2.95.

Paper and packaging companies fell on concerns about product prices falling. WestRock gave up $5.63, or 14.9 percent, to $32.11 and International Paper declined $3.87, or 10.6 percent, to $32.58.

Mark Wilde, managing director BMO Capital Markets, said stocks in that sector are falling because an influential trade publication estimated that prices for containerboard, an important product, fell sharply in January.

"I think it confirms people's fears," Wilde said. "Falling prices are going to mean lower earnings."

Friday was the best day for the S&P 500 since early December. It was the biggest gain for the Nasdaq composite index since September. That helped stocks make their first weekly gain in the last four.

The shaky global outlook helped push companies to make a slew of big deals last year, and that trend continued as Tyco International and Johnson Controls said they will combine. Tyco makes fire suppression systems and Johnson Controls makes ventilation systems, auto seating and car batteries. Both stocks have struggled as investors worried about their growth.

Tyco jumped $3.56, or 11.6 percent, to $34.15, the biggest gain in the S&P 500. Johnson Controls lost $1.39, or 3.9 percent, to $34.21.

Companies spent a record $5 trillion on acquisitions and other deals last year, a big jump from 2014. While few deals have been announced in the first weeks of 2016, business technology company Intralinks that will change. It thinks global deal value will rise 3.5 percent, to a total of almost $2.3 trillion.

John Manley, chief equity strategist for Wells Fargo Fund Management, said he expects another big year of deals even though interest rates are likely to rise. That's because companies around the world are still looking for ways to become more efficient and lift their earnings and sales growth.

"I have no reason to think it's going to slow down," he said.

The economic outlook didn't get any brighter Monday. Business economists became more pessimistic about profits and sales than they were last fall and expect slower economic growth, according to a survey by the National Association for Business Economics. However, most of the survey participants said their companies plan to raise wages in the first quarter. That's the largest proportion in more than a year.

Heavy machinery maker Caterpillar sank after Goldman Sachs downgraded the stock to "Sell." Analyst Jerry Revich said companies around the world are spending less money on machinery because commodity prices have dropped. Caterpillar lost $3.07, or 5 percent, to $57.91.

McDonald's rose after the restaurant chain said its U.S. sales grew 5.7 percent in the fourth quarter, its best result in more than three years. The company said its all-day breakfast menu and the warm weather helped its sales. Overall, its sales rose 5 percent. The stock edged up 80 cents to $119.20.

Twitter continued to slide after the company said four executives, including its head of engineering, will leave the company. The stock lost 82 cents, or 4.6 percent, to $17.02. Twitter is down 57 percent in the last year.

Asian markets rose. Japan's Nikkei 225 rose 0.9 percent and Hong Kong's Hang Seng jumped 1.4 percent. Germany's DAX lost 0.3 percent, France's CAC 40 slid 0.6 percent and Britain's FTSE 100 declined 0.4 percent.

In other energy trading, wholesale gasoline fell 5 cents, of 5 percent, to $1.03 a gallon. Heating oil dropped 6 cents, or 6.1 percent, to 93.5 cents a gallon. Natural gas rose 1.9 cents to $2.158 per 1,000 cubic feet.

The price of gold rose $9 to $1,105.30 an ounce and silver gained 19.7 cents, or 1.4 percent, to $14.254 an ounce. Copper fell less than half a cent to $1.998 per pound.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.00 percent from 2.06 percent. The euro rose to $1.0837 from $1.0791 late Friday. The dollar fell to 118.48 yen from 118.78 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	282.01	points or ▲	1.78%	on	Tuesday, January 26, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,167.23	▲	282.01	▲	1.78%		
	Nasdaq____	4,567.67	▲	49.18	▲	1.09%		
	S&P_500___	1,903.63	▲	26.55	▲	1.41%		
	30_Yr_Bond____	2.78	▼	-0.02	▼	-0.75%		

NYSE Volume	 4,297,086,000 	 	 	 	 	  		 
Nasdaq Volume	 1,944,020,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,911.46	▲	34.46	▲	0.59%		
	DAX_____	9,822.75	▲	86.60	▲	0.89%		
	CAC_40__	4,356.81	▲	45.48	▲	1.05%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,057.10	▲	87.50	▲	1.76%	*HOLIDAY	*
	Shanghai_Comp	2,749.79	▼	-188.73	▼	-6.42%		
	Taiwan_Weight	7,828.67	▼	-65.48	▼	-0.83%		
	Nikkei_225___	16,708.90	▼	-402.01	▼	-2.35%		
	Hang_Seng.__	18,860.80	▼	-479.34	▼	-2.48%		
	Strait_Times.__	2,546.49	▼	-36.15	▼	-1.40%		
	NZX_50_Index_	6,142.15	▼	-33.09	▼	-0.54%		

http://finance.yahoo.com/news/stocks-rise-oil-prices-consumer-154438336.html

*Stock rise, driven by a turn higher in crude oil prices

Oil prices are changing course again and climbing, boosting energy stocks*
Associated Press By Marley Jay, AP Markets Writer


NEW YORK (AP) -- U.S. stocks jumped Tuesday as the price of oil made another abrupt reversal, this time rising almost 4 percent after falling sharply the day before.

Energy stocks climbed along with the price of oil, and Chevron and Exxon Mobil made major gains. Strong fourth-quarter results from beleaguered wireless provider Sprint gave telecom stocks a boost. Quarterly earnings also sent several stocks higher, including Post-it Notes maker 3M, Procter & Gamble, which makes Crest toothpaste, and luxury handbag maker Coach.

The Dow Jones industrial average jumped 282.01 points, or 1.8 percent, to 16,167.23. The Standard & Poor's 500 index rose 26.55 points, or 1.4 percent, to 1,903.63. The Nasdaq composite index added 49.18 points, or 1.1 percent, to 4,567.67.

Energy stocks gained ground as the price of U.S. crude rose $1.10, or 3.7 percent, to close at $31.45 a barrel in New York. It fell almost 6 percent Monday. Brent crude, a benchmark for international oils, rose $1.30, or 4.3 percent, to $31.80 a barrel in London. Despite the rebound, U.S. crude is down almost 18 percent this month.

Exxon Mobil picked up $2.72, or 3.7 percent, $76.70 and Chevron rose $3.23, or 4 percent, to $84.12.

Quarterly earnings contributed to many of the biggest moves of the day. Procter & Gamble reported a larger profit in the fourth quarter as it raised prices and cut costs. The maker of Pantene shampoo, Crest toothpaste and Charmin toilet paper added $1.96, or 2.6 percent, to $78.81.

Coach reported a greater profit than analysts had expected, and its stock rose $2.98, or 9.8 percent, to $33.33. Even with that big gain, however, it's down 10 percent over the last 12 months.

3M, which makes industrial coatings and ceramics, reported a greater profit and more revenue than analysts expected. It rose $7.21, or 5.2 percent, to $144.78.

The Dow had its best day since early December. Many of the companies making the biggest gains, including Exxon, Chevron and 3M, are Dow components. The Nasdaq made smaller gains because tech stocks didn't rise as much as the broader market.

Huntington Bancshares agreed to buy competitor FirstMerit Corp for $3.4 billion. The deal would create the largest bank in Ohio, and the companies would have about $100 billion in combined assets. FirstMerit added $2.82, or 18.3 percent, to $18.19 and Huntington lost 75 cents, or 8.5 percent, to $8.50.

Sprint, the fourth-largest wireless provider in the U.S., posted a smaller loss in its third quarter and said its aggressive promotions lured in more users. The company raised its outlook for the year.

Sprint's stock rose 47 cents, or 18.7 percent, to $2.99. The stock, which hit an all-time low last Wednesday, has been on a wild ride the last few days, jumping almost 15 percent Friday and then falling 12 percent Monday, when Sprint said it had cut about 2,500 jobs since last fall, or 8 percent of its staff.

Other telecom stocks also jumped Tuesday. Verizon Communications gained $1.22, or 2.6 percent, to $48.25.

While the market made broad gains and undid most of Monday's losses, it's still down substantially this year and there are signs investors have big worries about the global economy.

The yield on the 10-year Treasury note slipped to 2 percent from 2.01 percent and the yield on the two-year Treasury note dipped to 0.84 percent from 0.86 percent. In the last week the yields on those two bonds have gotten closer than they've been since June 2008, a sign that investors are concerned about economic growth.

"Fear is the biggest driver," said Guy LeBas, chief fixed income strategist for Janney Capital. LeBas said investors are also anticipating weaker inflation and think the Federal Reserve will be more cautious about raising interest rates because the market has experienced so much turmoil this month.

U.S. government bonds get more popular with investors when the economy looks dicey because the U.S. government is extremely likely to make good on its debt. Investors are willing to accept lower interest payments when they are concerned about safety.

When yields on longer-term bonds like the 10-year bond fall toward the yield on short-term bonds, it signals that investor expectations for future growth have dimmed.

France's CAC 40 rose 1.1 percent and Germany's DAX picked up 0.9 percent. Britain's FTSE 100 gained 0.6 percent. However Asian markets were hammered by Monday's slide in oil prices, which can signal weak demand. The Shanghai Composite dropped 6.4 percent to finish at 2,749.78, the lowest since December 2014. Japan's Nikkei 225 lost 2.4 percent to 16,708.90.

Gold rose $14.90, or 1.3 percent, to $1,120.20 an ounce and silver gained 31 cents, or 2.2 percent, to $14.564 an ounce. Copper picked up 1.9 cents to $2.158 a pound.

The price of gold has risen 5.8 percent this year. Only 13 stocks in the S&P 500 have made a bigger gain.

In other energy trading, wholesale gasoline rose 1.7 cents to $1.047 a gallon and heating oil gained 3.2 cents, or 3.5 percent, to 96.8 cents. Natural gas added 2.2 cents to $2.18 per 1,000 cubic feet.

The euro edged up to $1.0844 from $1.0837, and the dollar rose to 118.54 yen from 118.48 late Monday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-222.77	points or ▼	-1.38%	on	Wednesday, January 27, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	15,944.46	▼	-222.77	▼	-1.38%		
	Nasdaq____	4,468.17	▼	-99.51	▼	-2.18%		
	S&P_500___	1,882.95	▼	-20.68	▼	-1.09%		
	30_Yr_Bond____	2.79	▲	0.01	▲	0.32%		

NYSE Volume	 4,702,019,000 	 	 	 	 	  		 
Nasdaq Volume	 2,072,043,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,990.37	▲	78.91	▲	1.33%		
	DAX_____	9,880.82	▲	58.07	▲	0.59%		
	CAC_40__	4,380.36	▲	23.55	▲	0.54%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,000.80	▼	-56.30	▼	-1.11%		
	Shanghai_Comp	2,735.56	▼	-14.23	▼	-0.52%		
	Taiwan_Weight	7,849.83	▲	21.16	▲	0.27%		
	Nikkei_225___	17,163.92	▲	455.02	▲	2.72%		
	Hang_Seng.__	19,052.45	▲	191.65	▲	1.02%		
	Strait_Times.__	2,546.18	▲	0.57	▲	0.02%		
	NZX_50_Index_	6,141.94	▼	-0.21	▲	0.00%		

http://www.usnews.com/news/business...-fall-on-weak-forecasts-from-apple-and-boeing
*
US stocks give up a gain and end sharply lower after the Federal Reserve gives a cautious assessment of the global economy and says US growth has slowed*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) ”” Stocks sank Wednesday after the Federal Reserve gave a cautious assessment of the global economy and said growth in the U.S. has slowed down.

The statement from the Fed smothered a small rally in stocks earlier in the day. In addition to lowering its view of the U.S. economy, the Fed didn't say if it will respond to those and other concerns by slowing down its planned increases in interest rates.

Investors sold tech stocks, already under pressure following a shaky outlook from Apple, as well as consumer stocks like travel booking sites and cruise lines. They bought conservative, dividend-paying stocks like telecommunications companies and utility providers.

The Dow Jones industrial average fell 222.77 points, to 1.4 percent, to 15,944.46. A large chunk of that loss belonged to Apple and to Boeing, which gave a disappointing 2016 outlook and suffered its biggest one-day loss in 14 years.

The Standard & Poor's 500 index sank 20.68 points, or 1.1 percent, to 1,882.95. The slump in tech stocks hammered the Nasdaq composite index, which lost 99.51 points, or 2.2 percent, to 4,468.17.

The Federal Reserve said it is watching developments in the world economy and financial markets and how they might affect the U.S. economy. It also said U.S. economic growth had slowed down.

Few expected the Fed to raise interest rates this week because it just raised them last month. Sam Stovall, U.S. equity strategist at S&P Capital IQ, said investors wanted the Fed to say that it won't increase interest rates at its meeting in March, and will raise interest rates after that at a more gradual pace. It didn't do that.

"What the Fed was saying is 'No, March is still on the table,'" he said.

Even if the U.S. economy has slowed, it's been growing steadily for years while other major economies like China, Europe and Japan have struggled. Partly for that reason, the dollar has gotten very strong compared to other global currencies, making U.S. exports more expensive and imports cheaper.

That's one of the big problems facing Apple. Tim Cook, CEO of the world's most valuable publicly traded company, said the dollar is having an "extreme" effect on its sales in almost every country. Apple also said iPhone sales set another record in its latest quarter, but sales growth slowed down. It predicted a revenue decline in the current quarter, something that hasn't happened in 13 years.

The stock gave up $6.57, or 6.6 percent, to $93.42.

The dollar didn't change much after the Fed's announcement. The euro rose to $1.0907 from $1.0853 and the dollar rose to 118.64 yen from 118.46 yen. Further increases in interest rates are likely to make the dollar even stronger compared to other currencies.

The price of crude rose as investors hoped for cuts in fuel production. On Wednesday the head of Russia's state oil pipeline monopoly said talks with OPEC and Saudi Arabia are in the works. Oil prices have plunged over the last year and a half because global supply is outstripping demand, creating a gigantic fuel glut.

Benchmark U.S. crude rose 85 cents, or 2.7 percent, to close at $32.30 a barrel in New York. Brent crude, the benchmark for international oils, rose $1.30, or 4.1 percent, to $31.10 a barrel in London. Oil prices also increased about 4 percent on Tuesday.

Since the Fed's last meeting in December, when it raised its benchmark interest rate from record lows, oil prices have plunged, stocks have swung wildly, and investors have become more concerned that China's huge economy, a major driver of global growth, is sputtering.

Aerospace and defense giant Boeing fell after its profit forecast came up short of analysts' projections. The company also said aircraft deliveries will slip this year. Textron, which makes Cessna planes and Bell helicopters, also tumbled after its fourth-quarter profit and sales disappointed investors.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	125.18	points or ▲	0.79%	on	Thursday, January 28, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,069.64	▲	125.18	▲	0.79%		
	Nasdaq____	4,506.68	▲	38.51	▲	0.86%		
	S&P_500___	1,893.36	▲	10.41	▲	0.55%		
	30_Yr_Bond____	2.79	▲	0.00	▲	0.04%		

NYSE Volume	 4,652,180,500 	 	 	 	 	  		 
Nasdaq Volume	 2,289,637,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,931.78	▼	-58.59	▼	-0.98%		
	DAX_____	9,639.59	▼	-241.23	▼	-2.44%		
	CAC_40__	4,322.16	▼	-58.20	▼	-1.33%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,028.10	▲	27.30	▲	0.55%		
	Shanghai_Comp	2,655.66	▼	-79.90	▼	-2.92%		
	Taiwan_Weight	7,905.10	▲	55.27	▲	0.70%		
	Nikkei_225___	17,041.45	▼	-122.47	▼	-0.71%		
	Hang_Seng.__	19,195.83	▲	143.38	▲	0.75%		
	Strait_Times.__	2,559.34	▲	13.16	▲	0.52%		
	NZX_50_Index_	6,149.70	▲	7.76	▲	0.13%		

http://www.usnews.com/news/business...little-changed-in-early-trade-oil-price-rises

*US stocks post gains as oil prices send energy companies higher*
Associated Press Jan. 28, 2016, at 5:19 p.m
By MARLEY JAY, AP Markets Writer

NEW YORK (AP) ”” U.S. stocks rose Thursday as the price of oil climbed for the third day in a row on hopes that major oil exporters would cut production. Tech stocks traded higher, led by Facebook and PayPal, while drugmakers fell.

Facebook made its biggest leap in two and a half years after it said its profit more than doubled in the fourth quarter. The social network finished 2015 with almost 1.6 billion users. Sports apparel maker Under Armour also surged. Energy prices and companies rose after the Kremlin said it is discussing the state of the oil markets with Saudi Arabia and OPEC. Investors hope that talks between two of the three biggest oil producers in the world could lead to production cuts that would begin to alleviate a global supply glut.

The Dow Jones industrial average climbed 125.18 points, or 0.8 percent, to 16,069.64. The Standard & Poor's 500 index picked up 10.41 points, or 0.6 percent, to 1,893.36. The Nasdaq composite index rose 38.51 points, or 0.9 percent, to 4,506.68.

Stocks switched between small gains and losses throughout the morning. In the afternoon they gradually traded higher, but never went as high as they did at the very beginning of the day.

U.S. crude rose 92 cents, or 2.8 percent, to $33.22 a barrel in New York. Brent crude, a benchmark for international oils, gained 79 cents, or 2.4 percent, to $33.89.

The price of U.S. oil has climbed 9.5 percent over the last three days as investors hope production will be reduced, which would strengthen the fuel's price.

Oil prices have been on a long, steep slide since 2014 as world stockpiles hit extremely high levels and investors feared demand would get weaker. Last Wednesday U.S. oil closed at a 12-year low of $26.55 a barrel.

Oil and natural gas producer Devon Energy rose $2.30, or 9.4 percent, to $26.79. Oil company Hess, which rose almost 6 percent Wednesday after it said it will cut more spending, picked up another $3.49, or 9.5 percent, to $40.34.

Facebook surged after reporting that its profit more than doubled in the fourth quarter. The social networking site gained another 46 million users, giving it 1.59 billion around the world. The stock rose $14.66, or 15.6 percent, to $109.11, its best day since July 2013.

Facebook's results lifted the four big-name "FANG" stocks: Facebook, e-commerce giant Amazon, streaming video company Netflix and search engine operator Google. Amazon advanced almost 9, while Google's parent company, Alphabet, and Netflix both rose about 4 percent.

"Since Facebook killed it yesterday, the others are enjoying a rally," said Wedbush analyst Michael Pachter. "Facebook use is completely independent of Amazon use, but investors blindly bid up all of them when one does well."

However Amazon reported disappointing fourth-quarter results after the market closed, and its shares tumbled 14 percent in aftermarket trading.

E-commerce site eBay took its worst one-day loss in seven years after its guidance for the current quarter and the year disappointed investors. The stock lost $3.29, or 12.5 percent, to $23.13. EBay's former payment unit PayPal reported strong results and added $2.65, or 8.4 percent, to $34.24. That was the best result for PayPal since the company was spun off from eBay in July.

"While it is safe to say Amazon won this holiday season, eBay clearly lost," said Wedbush analyst Gil Luria.

Sports apparel maker Under Armour reported a larger-than-expected profit and better revenue than analysts had forecast. The company said shoe revenue almost doubled on strong sales of Stephan Curry basketball sneakers. Its stock climbed $15.49, or 22.1 percent, to $84.07, for its biggest one-day gain in two years.

Drug stocks tumbled, and the biggest losses went to companies that make complex, costly drugs. Cancer drug maker Celgene lost $5.10, or 5 percent, to $97.21 after its 2016 estimates disappointed investors.

The Massachusetts attorney general's office said Wednesday it is investigating whether the high price of a new hepatitis C drug from another biotech firm, Gilead Sciences, violates state law. Gilead fell $2.10, or 2.3 percent, to $87.53.

Biotech stocks have fallen in recent months as controversy over drug prices has increased. The Nasdaq biotech index fell 3.5 percent Thursday. That index hit a record high in July and has lost about a third of its value since then.

Abbott Laboratories lost $3.76, or 9.3 percent, to $36.71 after the maker of infant formula, medical devices and drugs posted quarterly profits that disappointed investors.

Quarterly earnings aided or pressured a wide variety of stocks. Construction and mining equipment maker Caterpillar reported better-than-expected results even though the company is struggling with lower commodity prices and a weakening global economy. It rose $2.76, or 4.7 percent, to $61.08.

Computer network equipment maker Juniper Networks tumbled after releasing disappointing forecasts for the current quarter. The company also said its chief financial officer was leaving. The stock lost $4.08, or 15.4 percent, to $22.46.

Overseas markets struggled after the Federal Reserve made cautious comments about the state of the global markets and growth in the U.S. Germany's DAX fell 2.4 percent and France's CAC-40 gave up 1.3 percent. The FTSE 100 index of leading British shares lost 1 percent. Japan's benchmark Nikkei 225 index gave up early gains to end 0.7 percent lower.

The price of gold declined 20 cents to $1,115.60 an ounce. Silver fell 22.7 cents, or 1.6 percent, to $14.232 an ounce. Copper lost 1.3 cents to $2.052 a pound.

In other energy trading, wholesale gasoline rose 3.3 cents to $1.079 a gallon. Heating oil rose 0.6 cents to $1.031 a gallon. Natural gas rose 2.5 cents to $2.182 per 1,000 cubic feet.

Bond prices rose. The yield on the 10-year Treasury note sipped to 1.98 percent from 2 percent. The euro rose to $1.0955 from $1.0907. The dollar rose to 118.78 yen from 118.64 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	396.66	points or ▲	2.47%	on	Friday, January 29, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,466.30	▲	396.66	▲	2.47%		
	Nasdaq____	4,613.95	▲	107.28	▲	2.38%		
	S&P_500___	1,940.24	▲	46.88	▲	2.48%		
	30_Yr_Bond____	2.76	▼	-0.03	▼	-1.18%		

NYSE Volume	 5,344,816,500 	 	 	 	 	  		 
Nasdaq Volume	 2,538,779,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,083.79	▲	152.01	▲	2.56%		
	DAX_____	9,798.11	▲	158.52	▲	1.64%		
	CAC_40__	4,417.02	▲	94.86	▲	2.19%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,056.60	▲	28.50	▲	0.57%		
	Shanghai_Comp	2,737.60	▲	81.94	▲	3.09%		
	Taiwan_Weight	8,080.60	▲	175.50	▲	2.22%		
	Nikkei_225___	17,518.30	▲	476.85	▲	2.80%		
	Hang_Seng.__	19,683.11	▲	487.28	▲	2.54%		
	Strait_Times.__	2,629.11	▲	66.66	▲	2.60%		
	NZX_50_Index_	6,170.22	▲	20.52	▲	0.33%		

http://finance.yahoo.com/news/us-stocks-rise-japan-stimulus-155020098.html

*US stocks soar to finish tough month as tech stocks climb

US stocks soar as Microsoft leads tech stocks higher*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- Stocks soared on the last trading day of January, with Microsoft, Visa and other tech stocks making the biggest gains in a broad market rally.

Indexes rose throughout the day and finished with their biggest gains in about five months. Asian stocks jumped after the Bank of Japan moved to stimulate the economy, and European markets also rose. In the U.S, tech stocks climbed following strong fourth-quarter results from Microsoft and Visa. Materials companies and banks also made large gains, and the price of oil rose for the fourth day in a row.

The U.S. government said Friday that the economy slowed in the fourth quarter, a possibility that had worried investors. But its estimate of the country's gross domestic product was about equal to analysts' forecasts and didn't hurt stocks.

The Dow Jones industrial average surged 396.66 points, or 2.5 percent, to 16,466.30. The Standard & Poor's 500 index rose 46.88 points, or 2.5 percent, to 1,940.24, as more than 480 of its component stocks rose. The Nasdaq composite index jumped 107.28 points, or 2.4 percent, to 4,613.95.

Stocks made some big gains in the last two weeks, but still finished January with hefty losses.

Microsoft added $3.04, or 5.8 percent, to $55.09 after its fourth-quarter profit and revenue beat expectations. The tech giant posted strong results from its cloud computing business and the unit that sells PC software and Surface tablets and Xbox game consoles.

Visa and MasterCard both rose after reporting solid results. Visa climbed $5.16, or 7.4 percent, to $74.49 and MasterCard picked up $5.60, or 6.7 percent, to $89.03.

E-commerce company Amazon took its largest one-day slide in more than a year. Amazon's quarterly profit more than doubled, but it still fell short of Wall Street's forecasts because of increased costs. Some of those related to its Fulfillment by Amazon service, which handles shipping for sellers and makes them eligible for Amazon Prime shipping. The stock lost $48.35, or 7.6 percent, to $587.

Honeywell advanced $5.23, or 5.3 percent, to $103.20 following its fourth-quarter report, and General Electric added 89 cents, or 3.2 percent, to $29.10.

Xerox said it will split into two publicly traded companies after pressure from activist investor Carl Icahn. Its stock gained 52 cents, or 5.6 percent, to $9.75.

The Commerce Department said U.S. gross domestic product grew only 0.7 percent over the last three months of 2015, while analyst expected 0.8 percent. The agency said consumers spent less, businesses invested less, and exports were down because of global instability.

The U.S. economy has been expanding for six and a half years, but on Wednesday the Federal Reserve cautioned that the U.S. economy is slowing down. The Fed also expressed concerns about global growth. Stocks tumbled after the Fed released its assessment.

Crude oil prices kept rising. Benchmark U.S. oil added 40 cents, or 1.2 percent, to $33.62 a barrel in New York. Brent crude, a benchmark for international oils, gained 85 cents, or 2.5 percent, to $34.74. Oil prices have increased for four days in a row as investors hope for cuts in global production.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 1.93 percent from 1.98 percent. European bond yields also sank. The euro weakened to $1.0829 from $1.0955.

Consol Energy jumped $1.19, or 18 percent, to $7.94 following its fourth-quarter report and another increase in the price of natural gas.

Electronic Arts traded lower. Its profit and revenue forecasts fell a bit short of Wall Street estimates. The video game maker said sales of its "Star Wars: Battlefront" game were strong, but analysts said investors were disappointed with the number of downloads, which are more profitable than sales of physical games.

The stock gave up $5.25, or 7.5 percent, to $64.55. That was its largest daily loss in almost three years.

January was a tough month for the market, and the beginning of the year was the worst in the history of the Dow average and the S&P 500 index. Both fell into a correction, or a drop of at least 10 percent from a recent peak.

The small-cap Russell 2000 index entered a bear market, which means a 20 percent slide.

The Dow and S&P 500 both fell more than 5 percent in January, while the Nasdaq lost almost 8 percent. For each index, that was the largest drop in a single month in years. The Russell finished January down almost 9 percent.

Google's parent, Alphabet, might soon overtake Apple as the world's most valuable publicly traded company. Alphabet has surged over the last year while Apple has struggled. Both companies are valued at more than $500 billion, and Apple is currently about $16 billion above Alphabet.

On Friday the Bank of Japan said it will charge money to banks that leave large amounts of cash parked at the central bank. The policy is intended to encourage commercial banks to lend more money. That could stimulate investment and growth in Japan's struggling economy.

Japanese bonds and fell the dollar got stronger compared to the yen. Friday afternoon the dollar traded at 121.10 yen, a huge move for the currency, which traded at 118.78 yen late Thursday.

Luke Bartholomew, investment manager at Aberdeen Capital Management, said the move by Japan's central bank is a change of course for the bank and for its governor, Haruhiko Kuroda.

"The surprise is they're going to negative rates a little more than a week after Kuroda explicitly said they had no intention of doing so," Bartholomew said. He said the Bank of Japan will need to do more to strengthen Japan's economy.

Japan's Nikkei 225 jumped 2.8 percent and Hong Kong's Hang Seng gained 2.5 percent. The Shanghai Composite in mainland China rose 3.1 percent. European indexes also rose. Germany's DAX climbed 1.6 percent. Britain's FTSE 100 added 2.6 percent and France's CAC 40 advanced 2.2 percent.

Wholesale gasoline picked up 2.4 cents, or 2.2 percent, to $1.103 a gallon. Heating oil added 2.4 cents, or 2.3 percent, to $1.055 a gallon. Natural gas rose 11.6 cents, or 5.3 percent, to $2.298 per 1,000 cubic feet.

Metals prices didn't change much. Gold rose 80 cents to $1,116.40 an ounce and silver gained 1.1 cents to $14.243 an ounce. Copper added 1.6 cents to $2.067 a pound.

8002


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-17.12	points or ▼	-0.10%	on	Monday, February 1, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,449.18	▼	-17.12	▼	-0.10%		
	Nasdaq____	4,620.37	▲	6.41	▲	0.14%		
	S&P_500___	1,939.38	▼	-0.86	▼	-0.04%		
	30_Yr_Bond____	2.78	▲	0.02	▲	0.83%		

NYSE Volume	 4,255,433,000 	 	 	 	 	  		 
Nasdaq Volume	 1,935,996,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,060.10	▼	-23.69	▼	-0.39%		
	DAX_____	9,757.88	▼	-40.23	▼	-0.41%		
	CAC_40__	4,392.33	▼	-24.69	▼	-0.56%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,094.30	▲	37.70	▲	0.75%		
	Shanghai_Comp	2,688.85	▼	-48.75	▼	-1.78%		
	Taiwan_Weight	8,156.96	▲	11.75	▲	0.14%		
	Nikkei_225___	17,865.23	▲	346.93	▲	1.98%		
	Hang_Seng.__	19,595.50	▼	-87.61	▼	-0.45%		
	Strait_Times.__	2,602.41	▼	-26.70	▼	-1.02%		
	NZX_50_Index_	6,174.49	▲	4.27	▲	0.07%		

http://finance.yahoo.com/news/oil-gas-companies-lead-early-decline-stocks-151746476.html

*US stocks edge mostly lower as energy prices plunge again*
Associated Press By KEN SWEET

NEW YORK (AP) ”” The stock market was able to recover from steep losses to close slightly lower on Monday as investors looked past another steep drop in the price of oil and renewed concerns about economic growth in China and the U.S. Oil and gas companies remained in the red.

The fact that utility and other high-dividend stocks were among the better performers should be seen as a sign that investors still don't have much conviction behind last week's gains and Monday's recovery, traders said.

The Dow Jones industrial average fell 17.12 points, or 0.1 percent, to 16,449.18 after being down roughly 150 points earlier in the day. The Standard & Poor's 500 index fell 0.86 points, less than 0.1 percent, to 1,939.38 and the Nasdaq composite rose 6.41 points, or 0.1 percent, to 4,620.37.

Stocks had been lower most of the day after separate reports showed manufacturing slowing last month in both the U.S. and China. The reports initially caused a sell-off in commodities, notably energy and industrial metals like copper. The price of U.S. benchmark oil plunged $2, or 5.9 percent, to $31.62 a barrel in New York. Natural gas also fell about 6 percent.

But as the trading day drew to a close, investors began to buy up utilities and other dividend-paying stocks. The Dow Jones utility index, a collection of 15 utility companies, rose nearly 1 percent on Monday. Telecommunications stocks, another traditional dividend play, posted the second-biggest gains in the S&P 500.

J.J. Kinahan, chief strategist at TD Ameritrade, said part of the reason dividend stocks did better than the rest of the market was speculation that the Federal Reserve, faced with a more uncertain economic environment, would likely not raise interest rates as fast as investors had thought at the beginning of the year.

Dividend stocks perform poorly in a rising interest rate environment, because the value of the yield on dividend stocks gets worn away as yields rise on bonds and other dividend-paying investments.

"We're looking at probably only two (interest rate) raises this year instead of four, and that makes dividend stocks look relatively attractive again," Kinahan said.

Energy stocks, not surprisingly, were the biggest losers on Monday, following the price of oil lower. The energy component of the S&P 500 fell nearly 2 percent, versus the nearly flat performance of the broader market.

Southwestern Energy declined 39 cents, or 4.4 percent, to $8.50, Transocean dropped 63 cents, or 6 percent, to $9.79 and Chesapeake Energy fell 18 cents, or 5 percent, to $3.21.

In other company news, Alere jumped $16.91, or 46 percent, to $54.11 after Abbott Laboratories announced it was purchasing the health care company, which is focused on diagnostics, for $5.8 billion. Abbott Labs shares rose 60 cents, or 2 percent, to $38.45.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 1.95 percent. The dollar fell to 121.02 yen from 121.10 yen on Friday. The euro strengthened to $1.0893 from $1.0829.

Prices for precious and industrial metals closed mixed. Gold rose $11.50 to $1,127.90 an ounce, silver gained 10 cents to $14.34 an ounce and copper slipped a penny to $2.06 a pound.

In other energy trading, wholesale gasoline lost 4.9 cents to $$1.083 a gallon, heating oil fell 4.2 cents to $1.037 a gallon and natural gas plunged 14.6 cents to $2.152 per 1,000 cubic feet. In London, Brent crude fell $1.75 to $34.24 a barrel.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-295.64	points or ▼	-1.80%	on	Tuesday, February 2, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,153.54	▼	-295.64	▼	-1.80%		
	Nasdaq____	4,516.95	▼	-103.42	▼	-2.24%		
	S&P_500___	1,903.03	▼	-36.35	▼	-1.87%		
	30_Yr_Bond____	2.68	▼	-0.10	▼	-3.67%		

NYSE Volume	 4,401,433,500 	 	 	 	 	  		 
Nasdaq Volume	 2,120,597,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,922.01	▼	-138.09	▼	-2.28%		
	DAX_____	9,581.04	▼	-176.84	▼	-1.81%		
	CAC_40__	4,283.99	▼	-108.34	▼	-2.47%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,044.00	▼	-50.30	▼	-0.99%		
	Shanghai_Comp	2,749.57	▲	60.72	▲	2.26%		
	Taiwan_Weight	8,131.24	▼	-25.72	▼	-0.32%		
	Nikkei_225___	17,750.68	▼	-114.55	▼	-0.64%		
	Hang_Seng.__	19,446.84	▼	-148.66	▼	-0.76%		
	Strait_Times.__	2,579.23	▼	-23.18	▼	-0.89%		
	NZX_50_Index_	6,180.08	▲	5.59	▲	0.09%		

http://finance.yahoo.com/news/energy-sector-leads-another-decline-stocks-oil-falls-151616114.html#

*Stocks sink, weighed down by another drop in price of oil*
Associated Press By KEN SWEET

NEW YORK (AP) -- Another steep drop in the price of oil weighed on global markets Tuesday. Investors remained deeply concerned about the global economy following this week's disappointing Chinese and U.S. manufacturing data.

Energy stocks fell as oil giants Exxon Mobil and Chevron reported their worst quarterly results in more than a decade. In the technology sector, Google's parent company, Alphabet, overtook Apple as the world's most valuable publicly traded company.

The Dow Jones industrial average lost 295.64 points, or 1.8 percent, to 16,153.54. The Standard & Poor's 500 index fell 36.35 points, or 1.9 percent, 1,903.03 and the Nasdaq composite fell 103.42 points, or 2.2 percent, to 4,516.95.

It's a busy week on the economic data front, particularly in the U.S., where the week ends with monthly payroll figures. So far, the numbers haven't impressed. On Monday, the Institute for Supply Management said its gauge of factory activity pointed to a contraction while China's official survey found that manufacturing fell to its lowest level in more than three years.

Those reports have weighed heavily on the market, and have put investors back in a selling mood after a brief reprieve last week. U.S. government bond prices rose as investors sought safety. The yield on the 10-year Treasury note fell to 1.86 percent from 1.95 percent late Monday.

"The fear trade is alive and well and experiencing a resurgence. It's all about focusing on defensive plays right now," said Kristina Hooper, head of U.S. investment strategies for Allianz Global Investors.

The weak manufacturing reports weighed heavily on oil prices, and the selling pressure continued on Tuesday. Benchmark U.S. oil slumped $1.74, or 5.5 percent, to close at $29.88 a barrel on the New York Mercantile Exchange, a day after it plunged nearly 6 percent. Brent crude lost $1.52, or 4.4 percent, to $32.72 a barrel in London.

Energy companies, as has been the case for several weeks, followed oil prices lower. Exxon Mobil fell $1.70, or 2.2 percent, to $74.59 and Chevron fell $4.05, or 4.7 percent, to $81.24.

"Hope is extinguished for now, as the now two-day fall in crude has regained the market's focus," wrote John Briggs, head of Americas fixed income strategy at RBS, in a note to investors.

Chevron and Exxon, once the two world's largest publicly traded companies, are showing signs of stress because of the plunge in oil prices. Exxon reported its lowest profit since 2002 and also announced it was curtailing its stock buyback program. Chevron posted its first quarterly loss since 2002.

Bank stocks fell on worries that oil prices will cause more energy loans to go bad, and that the slowing economy might impact their bottom line. There's also concern that the slowing economy might put the brakes on the Federal Reserve's plans to raise interest rates, which ultimately help banks make more money by raising borrowing rates on loans.

JPMorgan Chase lost $1.83, or 3.1 percent, to $57.03, Bank of America dropped 73 cents, or 5.2 percent, to $13.23 and Citigroup fell $2.06, or 5 percent, to $40.42.

"This is a market that's not going anywhere fast. Weak China, weak oil is still with us and will be with us for a while. The market needs time to work through this, and until then, we will see more volatility, particularly because of China," said Anatasia Amoroso, a global market strategist at JPMorgan Asset Management.

In other company news, Alphabet, the recently formed parent company of Google, rose $12.65, or 1.7 percent, to $764.65 after the company's results handily beat analysts' forecasts late Monday. With Tuesday's gains, Alphabet is now the largest publicly traded company by market value, overtaking Apple.

The dollar fell to 120.04 yen from 120.12 yen. The euro strengthened to $1.0917 from $1.0895.

In other energy trading, heating oil fell 2.6 cents to $1.011 a gallon, wholesale gasoline fell 8.2 cents to $1.001 a gallon, and natural gas fell to 12.7 cents, or 6 percent, to $2.025 per thousand cubic feet.

In metals, gold fell 60 cents to $1,127.30 an ounce, silver fell five cents to $14.29 an ounce and copper was flat at $2.025 per pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	183.12	points or ▲	1.13%	on	Wednesday, February 3, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,336.66	▲	183.12	▲	1.13%		
	Nasdaq____	4,504.24	▼	-12.71	▼	-0.28%		
	S&P_500___	1,912.53	▲	9.50	▲	0.50%		
	30_Yr_Bond____	2.70	▲	0.03	▲	0.97%		

NYSE Volume	 5,139,570,000 	 	 	 	 	  		 
Nasdaq Volume	 2,388,576,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,837.14	▼	-84.87	▼	-1.43%		
	DAX_____	9,434.82	▼	-146.22	▼	-1.53%		
	CAC_40__	4,226.96	▼	-57.03	▼	-1.33%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,930.80	▼	-113.20	▼	-2.24%		
	Shanghai_Comp	2,739.25	▼	-10.32	▼	-0.38%		
	Taiwan_Weight	8,063.00	▼	-68.24	▼	-0.84%		
	Nikkei_225___	17,191.25	▼	-559.43	▼	-3.15%		
	Hang_Seng.__	18,991.59	▼	-455.25	▼	-2.34%		
	Strait_Times.__	2,550.74	▼	-28.49	▼	-1.10%		
	NZX_50_Index_	6,133.38	▼	-46.70	▼	-0.76%		

http://finance.yahoo.com/news/us-stocks-early-gain-move-151259504.html

*US stocks stage a late turnaround, led by the energy sector

US stocks close mostly higher after a surge in the price of crude oil gave some relief to the beaten-down energy sector*
Associated Press By Ken Sweet, AP Business Writer
NEW YORK (AP) -- Stocks staged a rapid comeback in late-afternoon trading to close solidly higher Wednesday, helped by a surge in the price of oil and a decline in the U.S. dollar.

Chipotle Mexican Grill fell as the company said a federal investigation into its E. coli outbreak had widened, and Yahoo sank as the troubled Internet company announced layoffs and plans to sell businesses.

The Dow Jones industrial average rose 183.12 points, or 1.1 percent, to 16,336.66. The Standard & Poor's 500 index rose 9.50 points, or 0.5 percent, to 1,912.53 and the Nasdaq composite fell 12.71 points, or 0.3 percent, to 4,504.24.

It was a day of major swings. The Dow had been down nearly 200 points earlier. Major industries that were deep in the red, like energy and financials, were able to recover almost all the ground they lost. In the red most of the day, energy stocks ended up nearly 4 percent.

The gains can be largely attributed to a decline in the value of dollar against the major other currencies. The U.S. dollar index, which tracks the dollar against other major currencies, fell 1.7 percent, a large move for the foreign exchange market. Nearly all that decline happened in the last two hours of trading.

Many U.S. companies have been complaining that the appreciation of the dollar was eroding their earnings by making U.S. exports less profitable.

A weaker dollar also tends to send commodity prices higher. That was a relief to investors as well since a plunge in the price of crude oil has been decimating profits at energy companies.

"An unusually weak U.S. dollar provided a key impetus to today's rally," Jim Ritterbusch, an oil analyst with Ritterbusch and Associates, wrote in a note to investors.

The price of U.S. crude oil jumped $2.40, or 8 percent, to close at $32.28 a barrel, which helped lift up energy stocks.

Despite the gains on Wednesday, investors remain skeptical of this market. They are still putting money into traditional safe-havens: stocks that pay high dividends, U.S. government bonds, and precious metals.

The Dow Jones utility index, a basket of 15 utility companies, rose 1.3 percent. That index is up more than 8 percent this year. Utilities and other companies that pay large dividends are popular at times of uncertainty because they provide a regular return and are large, mature businesses that tend to stand up well during economic downturns.

Some traders are taking that a step further.

"I've been telling clients to be in all cash," said Ian Winer, co-head of equities trading at Wedbush Securities. "There's too much credit risk out there, S&P 500 earnings could be down this year and it seems an increasing possibility that the U.S. could be in a recession in 2017."

In other company news, Yahoo slumped $1.38, or 4.7 percent, to $27.68 after the company announced late Tuesday it would cut 1,700 jobs and sell some of the company's struggling businesses.

Chipotle fell $13.90, or 3 percent, to $461.74 after the company said the E. coli outbreak at its stores hurt sales more than anticipated. Chipotle also disclosed it was now under investigation by Federal regulators over the outbreak.

In individual currencies, the euro rose against the dollar to $1.1101, the dollar fell against the Japanese yen to 117.85 yen, and the dollar fell against the British pound to $1.4598.

In other energy commodities, heating oil jumped 6.8 cents to $1.0786 a gallon, wholesale gasoline rose 1.3 cents to $1.014 a gallon, and natural gas rose 1.3 cents to $2.038 per thousand cubic feet.

In metals, gold rose $14.00, or 1.2 percent, to $1,141.30 an ounce, silver jumped 45 cents, or 3 percent, to $14.73 an ounce and copper rose four cents, or 2 percent, to $2.095 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	79.92	points or ▲	0.49%	on	Thursday, February 4, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,416.58	▲	79.92	▲	0.49%		
	Nasdaq____	4,509.56	▲	5.32	▲	0.12%		
	S&P_500___	1,915.45	▲	2.92	▲	0.15%		
	30_Yr_Bond____	2.70	▲	0.00	▼	-0.18%		

NYSE Volume	 5,122,328,000 	 	 	 	 	  		 
Nasdaq Volume	 2,142,139,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,898.76	▲	61.62	▲	1.06%		
	DAX_____	9,393.36	▼	-41.46	▼	-0.44%		
	CAC_40__	4,228.53	▼	-55.46	▼	-1.29%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,029.30	▲	98.50	▲	2.00%		
	Shanghai_Comp	2,781.02	▲	41.78	▲	1.53%		
	Taiwan_Weight	8,063.00	▼	-68.24	▼	-0.84%		
	Nikkei_225___	17,044.99	▼	-146.26	▼	-0.85%		
	Hang_Seng.__	19,183.09	▲	191.50	▲	1.01%		
	Strait_Times.__	2,558.49	▲	7.75	▲	0.30%		
	NZX_50_Index_	6,137.71	▲	4.33	▲	0.07%		

http://abcnews.go.com/Business/wireStory/us-stocks-move-higher-early-trading-crude-oil-36711982

*US stocks end modestly higher after a day of wavering*

KEN SWEET, The Associated Press
Posted: Thursday, February 4, 2016, 4:31 PM

 U.S. stocks posted modest gains Thursday as investors await Friday's closely watched jobs report, which could offer insight about the U.S. economy and help determine whether the Federal Reserve raises interest rates again next month.

Many believe the likelihood of another rate increase in March has faded because of recent signs of weakness in the global economy. That has sent the dollar lower against other currencies, a welcome change for U.S. exporters whose overseas sales have been hurt by the appreciation of the dollar over the last year and a half.

The Dow Jones industrial average rose 79.92 points, or 0.5 percent, to 16,416.58. The Standard & Poor's 500 index rose 2.92 points, or 0.2 percent, to 1,915.45 and the Nasdaq composite rose 5.32 points, or 0.1 percent, to 4,509.56.

Stocks oscillated between gains and losses the whole day, and got some traction in the last couple hours of trading. Industrial and materials companies were among the biggest gainers, helped by a weaker dollar.

Investors are getting ready for Friday's payroll numbers. Economists surveyed by FactSet forecast that U.S. employers created 200,000 jobs in January and the unemployment rate held steady at 5 percent.

Over the past couple of weeks, investors have scaled back expectations that the Fed will continue raising interest rates amid signs that the global slowdown in growth is beginning to hurt the U.S. economy.

On Wednesday, a private survey found that the U.S. service sector grew in January at the slowest rate in nearly two years. Fed fund futures, a security that allows investors to bet on which way the Fed will move interest rates, are indicating that the next best chance the Fed will raise rates is not until early 2017.

"The market is starting to price in a small chance of recession, not some realistic chance, but enough of a chance to give investors pause and reposition," said Khoa Le, who co-heads a derivatives trading desk at Credit Suisse.

Diminished expectations of a March Fed rate hike have continued to weaken the dollar. The euro rose 0.9 percent to a three-month high of $1.1208 while the dollar fell 1.1 percent against the Japanese yen to 116.79 yen.

Le said the large move in the dollar in recent days is partially related to a great unwinding of positions by both large investors and companies who might hold significant amounts of cash overseas.

Many investors were "buying into this thesis of a strong dollar," Le said. "Now that the Fed is less likely to raise rates, we are seeing clients reposition."

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 1.85 percent from 1.89 percent.

In other company news, mobile video camera maker GoPro plunged 93 cents, or 9 percent, to $9.78 after the company reported a wider-than-expected fourth quarter loss. GoPro shares are down 46 percent in 2016.

Viacom rose $1.11, or 2 percent, to $48.68 after the company announced that its 92-year-old majority shareholder, Sumner Redstone, was stepping down as CEO to be replaced by CBS CEO Les Moonves.

It was a usually quiet day for energy commodities, which for several days had experienced wild swings. Benchmark U.S. crude edged down 56 cents to $31.72 a barrel on the New York Mercantile Exchange. The contract jumped 8 percent on Wednesday in New York. Brent crude, a benchmark for international oil prices, fell 58 cents to $34.46 a barrel in London.

Other energy commodities were mixed. Heating oil rose less than a penny to $1.081 a gallon, wholesale gasoline rose 1.5 cents to $1.0284 a gallon and natural gas fell 6.6 cents to $1.972 per thousand cubic feet.

In metals, gold rose $16.30 to $1,157.60 an ounce, silver rose 11.6 cents to $14.85 an ounce and copper rose 3.7 cents to $2.1315 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-211.61	points or ▼	-1.29%	on	Friday, February 5, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,204.97	▼	-211.61	▼	-1.29%		
	Nasdaq____	4,363.14	▼	-146.42	▼	-3.25%		
	S&P_500___	1,880.05	▼	-35.40	▼	-1.85%		
	30_Yr_Bond____	2.68	▼	-0.02	▼	-0.67%		

NYSE Volume	 4,873,998,000 	 	 	 	 	  		 
Nasdaq Volume	 2,416,542,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,848.06	▼	-50.70	▼	-0.86%		
	DAX_____	9,286.23	▼	-107.13	▼	-1.14%		
	CAC_40__	4,200.67	▼	-27.86	▼	-0.66%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,025.60	▼	-3.70	▼	-0.07%		
	Shanghai_Comp	2,763.49	▼	-17.53	▼	-0.63%		
	Taiwan_Weight	8,063.00	▼	-68.24	▼	-0.84%		
	Nikkei_225___	16,819.59	▼	-225.40	▼	-1.32%		
	Hang_Seng.__	19,288.17	▲	105.08	▲	0.55%		
	Strait_Times.__	2,623.21	▲	64.72	▲	2.53%		
	NZX_50_Index_	6,153.80	▲	16.09	▲	0.26%		

http://finance.yahoo.com/news/stocks-edge-lower-early-trading-151520006.html
*
Stocks lose more ground as jobs report disappoints

Stocks finish another down week sharply lower on worries that the risk of a recession in the US, while still low, is growing*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks posted steep losses Friday, ending the week with broad declines, as investors fretted over a report showing that U.S. job creation slowed last month.

Technology stocks fell especially hard, and shares of LinkedIn had their worst day in history.

Energy and consumer discretionary stocks fell as oil prices declined and investors continued to worry that the risk of the U.S. economy slipping into recession, while low, is growing.

The Dow Jones industrial average fell 211.75 points, or 1.3 percent, to 16,204.83. The Standard & Poor's 500 index lost 35.43 points, or 1.9 percent, to 1,880.02 and the Nasdaq composite dropped 146.41 points, or 3.3 percent, to 4,363.14.

Stocks were mostly lower throughout day, but losses accelerated as the end of trading approached. With Friday's losses, the Dow was down 1.6 percent for the week, the S&P 500 fell 3.1 percent and Nasdaq lost 5.4 percent.

Investors were discouraged by a report that showed U.S. employers added 151,000 jobs last month, a sharp deceleration from recent months as companies shed education, transportation and temporary workers. That was below economists' forecasts of 185,000 new jobs, according to data from FactSet.

The report included some positive signs, however. The unemployment rate fell to 4.9 percent from 5 percent, the lowest level since February 2008. Average wages jumped 2.5 percent over the past year to $25.39 an hour, evidence that the past years of job growth are helping to generate larger pay raises.

"It's a rather difficult report to interpret. It confirms there has been some deceleration in the U.S. economy. We're not falling off the cliff, but it clearly shows the U.S. economy is not immune to the global slowdown," said Russ Koesterich, global market strategist with asset manager BlackRock.

The jobs report, while less than what economists were looking for, still showed that the U.S. economy is growing, albeit slowly. The report caused the dollar to strengthen against other currencies, reversing some of the last two days of declines.

The report also raised a new worry about Federal Reserve interest rate policy. Investors had been betting in recent weeks that a slowing U.S. economy might prompt the Federal Reserve to delay plans to raise interest rates. But the Fed could see the data showing the growth in hourly wages as an early sign of inflation, which in turn might cause them to keep raising rates even in a slowing economy, Koesterich said.

"You have the possibility of soft growth and monetary tightening, and that's not a great place to be as an investor," he said.

Technology stocks were hit hard by disappointing results from professional social network company LinkedIn and data analysis company Tableau Software. LinkedIn shares dropped $83.90, or 44 percent, to $108.38, its worst single-day performance in the company's history. The company provided a weak outlook for 2016 and announced it was winding down an advertising platform that was supposed to be a new venture.

Tableau Software plunged $40.40, or 49 percent, to $41.33 after the data analytics company reported a wider-than-expected loss and its software license revenue missed analysts' predictions. Tableau's dismal results spread to other software companies, like Salesforce.com, which fell 13 percent, and Adobe Systems, which fell 8 percent.

U.S. government bond prices were mostly unchanged. The yield on the benchmark 10-year Treasury note remained at 1.84 percent.

The dollar rose to 116.89 yen from 116.71 yen. The euro fell to $1.1164 from $1.1214, inching back from its highest level in more than three months.

In the energy markets, U.S. crude fell 83 cents to $30.89 a barrel on the New York Mercantile Exchange. Brent crude, the international benchmark, fell 40 cents to $34.06 a barrel in London. Heating oil fell 2 cents to $1.059 a gallon, wholesale gasoline fell 3.6 cents to 99.27 cents and natural gas rose 9 cents to $2.063 per thousand cubic feet.

In precious and industrial metals trading, gold edged up 20 cents to $1,157.70 an ounce, silver fell 7 cents to $14.78 an ounce and copper fell 3 cents to $2.10 a pound.

8522


----------



## bigdog

Source: http://finance.yahoo.com 

*In Asia, many markets were closed for the Lunar New Year holidays. 		* 

 *The NYSE DOW closed  	LOWER ▼	-177.92	points or ▼	-1.10%	on	Monday, February 8, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,027.05	▼	-177.92	▼	-1.10%		
	Nasdaq____	4,283.75	▼	-79.39	▼	-1.82%		
	S&P_500___	1,853.44	▼	-26.61	▼	-1.42%		
	30_Yr_Bond____	2.56	▼	-0.12	▼	-4.55%		

NYSE Volume	 5,554,716,000 	 	 	 	 	  		 
Nasdaq Volume	 2,607,770,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,689.36	▼	-158.70	▼	-2.71%		
	DAX_____	8,979.36	▼	-306.87	▼	-3.30%		
	CAC_40__	4,066.31	▼	-134.36	▼	-3.20%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,022.10	▼	-3.50	▼	-0.07%		
	Shanghai_Comp	2,763.49	▼	-17.53	▼	-0.63%	*CLOSED HOLIDAY * 
	Taiwan_Weight	8,063.00	▼	-68.24	▼	-0.84%	*CLOSED HOLIDAY * 
	Nikkei_225___	17,004.30	▲	184.71	▲	1.10%		
	Hang_Seng.__	19,288.17	▲	105.08	▲	0.55%	*CLOSED HOLIDAY * 
	Strait_Times.__	2,623.21	▲	64.72	▲	2.53%	*CLOSED HOLIDAY * 
	NZX_50_Index_	6,153.80	▲	16.09	▲	0.26%		

*Stocks Fall Sharply as Banks, Tech Sector Take a Beating*
    By Alex Veiga, AP business writer

 Wall Street rode another wave of selling Monday that sent U.S. stocks sharply lower, before a late-afternoon pullback stemmed some of the losses.

Investors unloaded materials, financials and other stocks, briefly knocking the Dow Jones industrial average down more than 400 points.

Technology shares, which soared last year, were targeted for especially aggressive selling, bringing the tech-heavy Nasdaq composite index down almost 20 percent from its record high last year.

The losses left major market indexes down for the second day in a row, extending what has been a dismal beginning of 2016 for the stock market, its worst start to a year on record.

European markets also fell sharply, with the worst losses coming in weaker economies such as Greece, Spain, and Italy. Traditional safe harbor investments like gold and U.S. government bonds were among the few bright spots in a market awash in red.

"Traders are worried that the financial market weakness that we're experiencing is going to lead to weakness in the real economy," said Jim McDonald, chief investment strategist at Northern Trust.

The Dow fell 177.92 points, or 1.1 percent, to 16,027.05. The Standard & Poor's 500 lost 26.61 points, or 1.4 percent, to 1,853.44. The Nasdaq composite dropped 79.39 points, or 1.8 percent, to 4,283.75. The index is within 110 points of being in what Wall Street considers a bear market, or a 20 percent drop from its high.

For the year, the Dow is now down 8 percent, while the S&P 500 is down 9.3 percent. The Nasdaq has lost 14.5 percent this year.

The stock market has been in a slump for much of this year after a lackluster 2015. Several factors have kept investors in a selling mood, including falling crude oil prices, the impact of a stronger dollar on U.S. company earnings, and heightened concern that economic growth is slowing in China and elsewhere.

Fears of a global economic downturn are now heightening concerns that the U.S. economy could slide into a recession later this year.

The market anxiety helped push bond prices higher, pulling down the yield on the 10-year Treasury note to 1.75 percent from 1.84 percent late Friday, a large move.

Investors looking for some positive outlooks for 2016 aren't finding much in the latest wave of company earnings, either.

Many of the companies that have reported quarterly results in recent weeks also gave weak earnings outlooks for this year, noted Bill Northey, chief investment officer at the Private Client Group at U.S. Bank.

"In fact, we're now looking at growth estimates that are sub-5 percent for 2016, which is down rather materially from where we came into fourth-quarter earnings season," Northey said.

Benchmark U.S. crude oil fell $1.20, or 3.9 percent, to close at $29.69 a barrel in New York. Brent crude, a benchmark for international oils, dropped $1.18, or 3.5 percent, to close at $32.88 a barrel in London.

The prolonged slump in oil prices has investors worried that companies that drill for crude may not be able to pay back their loans.

Speculation that Chesapeake Energy might be preparing to file for bankruptcy protection helped push its stock price down 33 percent on Monday, making it one of the worst performers in the S&P 500 index.

In response, the company issued a statement around midday saying it "currently has no plans to pursue bankruptcy." The stock closed down $1.02 to $2.04 in heavy trading.

Traders also sold fellow driller Williams Cos., which lost $5.96, or 34.8 percent, to $11.16.

Despite the latest drop in crude oil prices, the S&P 500 index's energy sector ended slightly higher. The other nine sectors declined, with materials stocks shedding the most, 2.7 percent.

Financials stocks also slumped, falling 2.6 percent.

Given the jitters over a possible global economic slowdown, investors are betting that the Federal Reserve will be less aggressive about raising its key interest rate further this year. Going into 2016, many on Wall Street were projecting as many as four rate hikes by the Fed this year. Higher interest rates benefit banks, which make money from interest on credit cards and other loans.

Goldman Sachs Group was one of the biggest decliners in the Dow, sliding $7.22, or 4.6 percent, to $149.25. Bank of America shed 68 cents, or 5.3 percent, to $12.27.

Credit Suisse Group AG fell 4 percent on news that the bank's new CEO has asked for his bonus to be cut following a report of a huge fourth-quarter loss and plans for 4,000 job cuts. The stock fell 54 cents to $14.44.

Federal Reserve Chair Janet Yellen is scheduled to deliver a policy update to Congress later this week.

"What the market wants to see is the Fed realizing that there's no way on Earth they can raise rates three to four times in the next 12 months," McDonald said.

Monday's market slump followed a wave of selling in Europe that was concentrated in the more financially shaky countries. The stock index in Spain was off roughly 4 percent, while Italy's lost about 5 percent. Greece's index sank about 8 percent.

The larger stock markets didn't fare much better.

Germany's DAX fell 3.3 percent, while France's CAC 40 dropped 3.2 percent. The FTSE 100 index of leading British shares slid 2.7 percent.

In Asia, many markets were closed for the Lunar New Year holidays. Japan's benchmark Nikkei 225 rose 1.1 percent, while Australia's S&P/ASX 200 was flat.

Precious metals prices rose sharply as traders took cover from the turbulence in the stock market.

Gold jumped $40.20, or 3.5 percent, to $1,197.90 an ounce and silver climbed 64.8 cents, or 4.4 percent, to $15.43 an ounce. Copper, an industrial metal that will often rise and fall along with investor's optimism about the global economy, slipped 1.3 cents to $2.09 a pound.

In other energy trading in New York, wholesale gasoline fell 3.7 cents, or 3.7 percent, to 95.61 cents a gallon and home heating oil fell 1.3 cents to $1.046 a gallon. Natural gas rose 7.7 cents, or 3.7 percent, to $2.14 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

*In Asia, many markets were closed for the Lunar New Year holidays.*

 *The NYSE DOW closed  	LOWER ▼	-12.67	points or ▼	-0.08%	on	Tuesday, February 9, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,014.38	▼	-12.67	▼	-0.08%		
	Nasdaq____	4,268.76	▼	-14.99	▼	-0.35%		
	S&P_500___	1,852.21	▼	-1.23	▼	-0.07%		
	30_Yr_Bond____	2.55	▼	-0.01	▼	-0.20%		

NYSE Volume	 4,987,392,500 	 	 	 	 	  		 
Nasdaq Volume	 2,349,325,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,632.19	▼	-57.17	▼	-1.00%		
	DAX_____	8,879.40	▼	-99.96	▼	-1.11%		
	CAC_40__	3,997.54	▼	-68.77	▼	-1.69%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,882.60	▼	-139.50	▼	-2.78%		
	Shanghai_Comp	2,763.49	▼	-17.53	▼	-0.63%	*CLOSED HOLIDAY* 
	Taiwan_Weight	8,063.00	▼	-68.24	▼	-0.84%	*CLOSED HOLIDAY* 
	Nikkei_225___	16,085.44	▼	-918.86	▼	-5.40%		
	Hang_Seng.__	19,288.17	▲	105.08	▲	0.55%	*CLOSED HOLIDAY* 
	Strait_Times.__	2,623.21	▲	64.72	▲	2.53%	*CLOSED HOLIDAY* 
	NZX_50_Index_	6,071.32	▼	-82.48	▼	-1.34%		

http://finance.yahoo.com/news/stock...-japans-nikkei-slumps-153316229--finance.html

*US stocks end a bumpy day slightly lower*
Associated Press By ALEX VEIGA

U.S. stocks extended their three-day losing streak Tuesday, closing slightly lower after spending most of the day wavering between gains and losses.

Energy companies led the decline as the price of U.S. crude oil sank nearly 6 percent. It's now at about $28 a barrel. The market's bumpy ride followed a slide in European stock indexes and steep losses in Japan, reflecting mounting investor anxiety that the global economy is slowing.

"The market continues to price in worst-case scenarios, a recessionary China and an energy sector that's looking basically like it should go bankrupt at this level," said Jeff Carbone, managing director of Cornerstone Financial Partners.

The Dow Jones industrial average fell 12.67 points, or 0.1 percent, to 16,014.38. The Standard & Poor's 500 slipped 1.23 points, or 0.1 percent, to 1,852.21. The Nasdaq composite lost 14.99 points, or 0.4 percent, to 4,268.76.

The latest losses pulled the three indexes further down for the year. The Dow is off 8.1 percent, while the S&P 500 index is down 9.4 percent. The Nasdaq is off 14.8 percent.

Stock markets have endured a torrid start to the year as investors have fretted over a number of issues, including the fall in the price of oil to multi-year lows, a slowdown in China and whether many parts of the global economy will fall into recession and suffer a debilitating period of deflation, or falling prices.

The market veered lower early on Tuesday following wave of selling in Europe and Japan, where the Nikkei index closed 5.4 percent lower. The interest rate on the country's benchmark bond also dropped into negative territory for the first time.

Major U.S. stock indexes rebounded early on as oil prices briefly rose, but the rally didn't last. A late-afternoon rebound also failed to hold as oil prices closed lower for the second day in a row.

"The market's correlation to oil has not subsided at this time," said Carbone. "There seems to be no end in sight."

Benchmark U.S. crude oil dropped $1.75, or 5.6 percent, to close at $27.94 a barrel in New York. Brent crude, a benchmark for international oils, fell $2.56, or 7.8 percent, to close at $30.32 a barrel in London.

All told, the S&P 500 index's energy sector companies lost 2.5 percent, the worst performer in the index.

Consol Energy lost $1.02, or 11.9 percent, to $7.53, while Southwestern Energy fell 97 cents, or 10.4 percent, to $8.37. Murphy Oil slid $1.37, or 7.1 percent, to $17.86.

The International Energy Agency, which advises countries on energy policy, said oil prices will continue to come under pressure as supply is set to outpace demand this year.

Investors also had their sights on the latest batch of company earnings news.

Entertainment conglomerate Viacom plunged 21.5 percent after missing revenue estimates for the fifth quarter in a row. The stock fell $8.99 to $32.86.

Bristow Group tumbled 20.2 percent after the helicopter services company reported better-than-expected fiscal third-quarter profit, but revenue fell short of forecasts. The stock lost $3.73 to $14.75.

Some companies fared much better.

Martin Marietta Materials vaulted 9.4 percent after the construction materials company reported a sharp increase in earnings. The stock climbed $11.03 to $128.88. The gains helped lift the materials sector overall, which notched the biggest gain in the S&P 500 index.

Traders were also looking ahead to the beginning on Wednesday of two days of testimony before Congress by Federal Reserve Chair Janet Yellen.

Yellen is scheduled to outline the central bank's outlook on the economy. Traders will be watching for hints about when the Fed will make its next move to raise its key interest rate. Most analysts and investors think the Fed will raise rates fewer than four times this year, if at all.

"The market is looking at growth slowing globally and perhaps slowing more in the U.S. and wondering how the Federal Reserve could rationalize four rate hikes or even three rate hikes," Quincy Krosby, market strategist for Prudential Financial. "That has been a major worry for markets and that's the reason tomorrow is so important."

In overseas action, the FTSE 100 index of leading British shares lost 1 percent, while Germany's DAX fell 1.1 percent. The CAC-40 in France dropped 1.7 percent.

Precious metals prices were mixed. Gold rose 70 cents, or 0.1 percent, to $1,198.60 an ounce and silver inched up 2 cents, or 0.1 percent, to $15.44 an ounce. Copper, an industrial metal that will often rise and fall along with investor's optimism about the global economy, fell 5 cents, or 2.4 percent, to $2.04 a pound.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.73 percent from 1.75 percent late Monday. The dollar was down at 115.12 yen from 115.58 yen. As recently as the end of January, the dollar was trading above 121 yen. The euro up $1.1296 from $1.1186.

In other energy trading in New York, wholesale gasoline fell 6 cents, or 6 percent, to 90 cents a gallon and home heating oil fell 7 cents to 97 cents a gallon. Natural gas fell 4 cents, or 2 percent, to $2.10 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

*In Asia, some markets were stilled closed for the Lunar New Year holidays.*

 *The NYSE DOW closed  	LOWER ▼	-99.64	points or ▼	-0.62%	on	Wednesday, February 10, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	15,914.74	▼	-99.64	▼	-0.62%		
	Nasdaq____	4,283.59	▲	14.83	▲	0.35%		
	S&P_500___	1,851.86	▼	-0.35	▼	-0.02%		
	30_Yr_Bond____	2.53	▼	-0.03	▼	-1.02%		

NYSE Volume	 4,358,875,500 	 	 	 	 	  		 
Nasdaq Volume	 2,385,420,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,672.30	▲	40.11	▲	0.71%		
	DAX_____	9,017.29	▲	137.89	▲	1.55%		
	CAC_40__	4,061.20	▲	63.66	▲	1.59%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,826.50	▼	-56.10	▼	-1.15%		
	Shanghai_Comp	2,763.49	▼	-17.53	▼	-0.63%	*CLOSED HOLIDAY* 
	Taiwan_Weight	8,063.00	▼	-68.24	▼	-0.84%	*CLOSED HOLIDAY* 
	Nikkei_225___	15,713.39	▼	-372.05	▼	-2.31%		
	Hang_Seng.__	19,288.17	▲	105.08	▲	0.55%	*CLOSED HOLIDAY* 
	Strait_Times.__	2,582.10	▼	-41.11	▼	-1.57%		
	NZX_50_Index_	6,019.49	▼	-51.83	▼	-0.85%		

http://finance.yahoo.com/news/us-stocks-open-higher-feds-152238757.html

*US stocks edge higher as Fed's Yellen signals caution*
Associated Press By Alex Veiga, AP Business Writer

The Federal Reserve's latest signals on interest rates gave U.S. stocks a lift for much of Wednesday, but the rally didn't last.

A sell-off in the final minutes of trading knocked the Dow Jones industrial average and the Standard & Poor's 500 index slightly into the red. The slide extended a three-day losing streak for the two indexes. Only the Nasdaq composite held its course, carving out a slight gain.

Materials and energy stocks were among the biggest decliners as U.S. crude oil prices declined again.

Investors were mostly focused on Fed Chair Janet Yellen's remarks on the economy and interest rates as she delivered her semiannual report to Congress.

The market has been anxious about the possibility of interest rate hikes at a time when the global economy is showing signs of slowing. But Yellen's remarks addressed investors' concerns, said Erik Davidson, chief investment officer for Wells Fargo Private Bank.

"The markets have gotten the message that the Fed is not on autopilot," Davidson said. "If they'd gotten the sense that the Fed was on autopilot and was predestined to a certain number of rate hikes in 2016, that would have been troublesome."

The Dow fell 99.64 points, or 0.6 percent, to 15,914.74. The average is now down 8.7 percent this year. The S&P 500 index slipped 0.35 point, or 0.02 percent, to 1,851.86. The index is off 9.4 percent this year.

The Nasdaq added 14.83 points, or 0.4 percent, to 4,283.59. The gain helped trim the Nasdaq's losses for the year, which stand at 14.5 percent.

Investors appeared to be in a buying mood early in the day in anticipation of Yellen's testimony. That sent stocks higher early on and sustained them until the last-minute slide as oil prices closed lower.

Benchmark U.S. crude fell 49 cents, or 1.8 percent, to close at $27.45 a barrel in New York. Brent crude, a benchmark for international oils, rose 52 cents, or 1.7 percent, to close at $30.84 a barrel in London.

Yellen offered no major surprises in prepared remarks released before the start of her two-day Congressional testimony. She reiterated the Fed's confidence that the U.S. economy was on track for stronger growth and a rebound in inflation.

At the same time, she cautioned that global weakness and falling financial markets could depress the U.S. economy's growth. That would, in turn, slow the pace of Fed interest rate hikes, she said.

Yellen also made clear that the central bank won't likely find it necessary to cut rates after having raised them from record lows in December.

Since the Fed decided to raise its key interest rate from a record low in December, the U.S. economy has hit some turbulence and markets have become volatile. Traders are increasingly worried about a number of issues, including the fall in the price of oil to multi-year lows, a slowdown in China and whether many parts of the global economy will fall into recession and suffer a debilitating period of deflation, or falling prices.

A delay or slower rollout of interest rate increases by the Fed is seen as good for the market, as higher interest rates can be detrimental to stocks, Davidson said.

"Higher interest rates can be detrimental to equities, although we're of the view that we're not at risk of higher interest rates in the short term," Davidson said.

All told, eight of the 10 sectors in the S&P 500 index declined, with materials and energy stocks posting the biggest drops. Health care and technology stocks bucked the downward trend.

Akamai Technologies notched the biggest increase in the S&P 500 index, surging 21.2 percent. It added $8.39 to $47.96. Assurant fell the most. The stock lost $10.26, or 13.4 percent, to $66.23.

Several big media companies slumped.

Disney dropped 3.8 percent a day after it reported that its ESPN network has hit a soft patch. The stock was the biggest decliner in the Dow, sliding $3.47 to $88.85. Time Warner was down 5 percent after its revenue fell short of forecasts. Time Warner shed $3.14 to $60.07.

In Europe, Germany's DAX added 1.6 percent, while France's CAC 40 rose 1.6 percent. Britain's FTSE 100 gained 0.7 percent. In Asia, Japan's Nikkei 225 sank 2.3 percent and is down about 11 percent in the past month. Australia's S&P/ASX 200 shed 1.2 percent. Markets were closed in China, Taiwan, Hong Kong and South Korea for Lunar New Year holidays. Hong Kong and Korea reopen on Thursday and China and Taiwan resume trading on Monday.

Precious metals prices closed lower. Gold fell $4, or 0.3 percent, to $1,194.60 an ounce and silver slid 17 cents, or 1.1 percent, to $15.28 an ounce. Copper, an industrial metal that will often rise and fall along with investor's optimism about the global economy, fell 1 cent, or 0.6 percent, to $2.03 a pound.

Bond prices rose. The yield on the 10-year Treasury slipped to 1.67 percent from 1.73 percent late Tuesday. The dollar fell to 113.68 yen from 115.01 yen, while the euro rose to $1.1277 from $1.1287 the day before.

In other energy trading in New York, wholesale gasoline rose 4 cents, or 4.9 percent, to 94 cents a gallon and home heating oil was flat at 97 cents a gallon. Natural gas fell 5 cents, or 2.5 percent, to $2.05 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-254.56	points or ▼	-1.60%	on	Thursday, February 11, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	15,660.18	▼	-254.56	▼	-1.60%		
	Nasdaq____	4,266.84	▼	-16.76	▼	-0.39%		
	S&P_500___	1,829.08	▼	-22.78	▼	-1.23%		
	30_Yr_Bond____	2.50	▼	-0.02	▼	-0.99%		

NYSE Volume	 5,419,096,000 	 	 	 	 	  		 
Nasdaq Volume	 2,725,197,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,536.97	▼	-135.33	▼	-2.39%		
	DAX_____	8,752.87	▼	-264.42	▼	-2.93%		
	CAC_40__	3,896.71	▼	-164.49	▼	-4.05%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,870.90	▲	44.40	▲	0.92%		
	Shanghai_Comp	2,763.49	▼	-17.53	▼	-0.63%	*CLOSED HOLIDAY* 
	Taiwan_Weight	8,063.00	▼	-68.24	▼	-0.84%	*CLOSED HOLIDAY* 
	Nikkei_225___	15,713.39	▼	-372.05	▼	-2.31%	*CLOSED HOLIDAY* 
	Hang_Seng.__	18,545.80	▼	-742.37	▼	-3.85%		
	Strait_Times.__	2,538.28	▼	-43.82	▼	-1.70%		
	NZX_50_Index_	5,987.02	▼	-32.47	▼	-0.54%		

http://finance.yahoo.com/news/us-markets-dive-amid-global-152209252.html#
*
US stocks slide further on global economic worries

US stocks fell again on concerns about global economic weakness, but they recovered somewhat from much sharper losses earlier in the day*
Associated Press By Alex Veiga, AP Business Writer

Jitters over the global economy and a steep drop in crude oil knocked U.S. stocks lower for the fourth day in a row Thursday.

The drop in the U.S. followed large losses all around the world, and left all three major U.S. indexes down at least 10 percent since the beginning of the year.

The latest slump reflected heightened concerns that global economic growth is slowing, even as Federal Reserve Chair Janet Yellen reiterated her confidence in the U.S. economy in testimony to congress Thursday.

"A lot of people are having trouble assessing the true value of stocks," said J.J. Kinahan, TD Ameritrade's chief strategist. "What it says to me is we're going to continue with volatility."

Financial companies were among the biggest decliners amid growing anxiety that interest rates in the U.S. and elsewhere would remain low and sap bank profits. The price of oil tumbled to $26.21, its lowest level since May 2003. Investors fled to the traditional havens of bonds and precious metals. Gold jumped 4.5 percent.

While stocks ended lower, they recovered somewhat from far steeper losses earlier in the day. The Dow Jones industrial average dropped 254.56 points, or 1.6 percent, to 15,660.18. The average had been down as much as 411 points.

The Standard & Poor's 500 lost 22.78 points, or 1.2 percent, to 1,829.08. The Nasdaq composite fell 16.76 points, or 0.4 percent, to 4,266.84.

Investors have become increasingly worried that the mounting market turmoil could put a brake on the global economy at a time it is already struggling with a litany of issues, including China's slowdown, low inflation and plunging energy markets.

Yellen, in her second day of testimony before U.S. lawmakers Thursday, acknowledged that global economic pressures pose risks to the U.S. economy, but said it's too early to tell whether those risks are severe enough to alter the central bank's interest-rate policies.

That failed to reassure investors hoping the Fed would signal that rate hikes are off the table for this year, said Katie Nixon, chief investment officer at Northern Trust Wealth Management.

"The market is disappointed in that and looking for more direct comment on perhaps pushing out rate increases," Nixon said. "She had the opportunity to do that, so that's obviously feeding into market anxiety."

All 10 sectors in the S&P 500 index closed lower. Financial stocks fell the most, down 3 percent.

Citigroup fell $2.43, or 6.5 percent, to $34.98, while Bank of America shed 82 cents, or 6.8 percent, to $11.16. JPMorgan slid $2.45, or 4.4 percent, to $53.07.

Benchmark U.S. crude oil fell for the sixth day in a row, sliding $1.24, or 4.5 percent, to $26.21 a barrel in New York. Brent crude, a benchmark for international oils, dropped 78 cents, or 2.5 percent, to $30.06 a barrel in London. Natural gas fell 5 cents, or 2.5 percent, to $1.99 per 1,000 cubic feet.

The drop in oil and natural gas prices sent shares in several energy companies lower. Southwestern Energy lost 43 cents, or 5 percent, to $8.15, while NRG Energy shed $1.11, or 10.4 percent, to $9.59.

Boeing plunged 6.8 percent following a report that the Securities and Exchange Commission is investigating the aircraft manufacturer over accounting practices. The stock was the worst-performer in the Dow, losing $7.92 to $108.44.

Traders bid up shares in TripAdvisor after the travel website operator's fourth-quarter profit and revenue topped estimates. The stock gained $6.72, or 12.4 percent, to $61.07 and was the best performing stock in the S&P 500.

Tesla Motors climbed 4.7 percent after the electric car maker said its lower-priced Model 3 sedan is on schedule for 2017 release. The stock added $6.80 to $150.47.

In Europe, Germany's DAX dropped 2.9 percent, while France's CAC 40 slid 4.1 percent, dragged down by a 13 percent drop in the shares of bank Societe Generale, which warned about its profits. Britain's FTSE 100 shed 2.4 percent.

In Asia, some indexes reopened after a holiday and caught up with several days of market turmoil. Hong Kong's Hang Seng dived 3.9 percent after opening as much as 5 percent lower. South Korea's Kospi staged its biggest daily drop in nearly four years, down 2.9 percent. China and Taiwan will reopen on Monday. Japan was closed Thursday for a separate public holiday.

Bond prices rose, driving the yield on the 10-year Treasury down to 1.66 percent from 1.71 percent late Wednesday.

Gold surged $53, or 4.5 percent, to $1,247.80 an ounce, while silver climbed 51 cents, or 3.4 percent, to $15.79 an ounce. Copper, an industrial metal that will often rise and fall along with investor's optimism about the global economy, fell 2 cents, or 1 percent, to $2.01 a pound.

In other energy trading in New York, wholesale gasoline was little changed at 94 cents a gallon and home heating oil was flat at 98 cents a gallon.

The dollar took a dive as investors adjusted their expectations for fewer interest rate increases in the U.S. It fell to 112.27 yen from 113.68 yen. It also fell against the euro, which was up to $1.1330 from $1.1277.


----------



## bigdog

Source: http://finance.yahoo.com 

*Markets in China and Taiwan were closed all week for Lunar New Year holidays and will reopen on Monday.*

 *The NYSE DOW closed  	HIGHER ▲	313.66	points or ▲	2.00%	on	Friday, February 12, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	15,973.84	▲	313.66	▲	2.00%		
	Nasdaq____	4,337.51	▲	70.67	▲	1.66%		
	S&P_500___	1,864.78	▲	35.70	▲	1.95%		
	30_Yr_Bond____	2.61	▲	0.10	▲	4.03%		

NYSE Volume	 4,635,477,000 	 	 	 	 	  		 
Nasdaq Volume	 1,919,227,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,707.60	▲	170.63	▲	3.08%		
	DAX_____	8,967.51	▲	214.64	▲	2.45%		
	CAC_40__	3,995.06	▲	98.35	▲	2.52%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,816.60	▼	-54.30	▼	-1.11%		
	Shanghai_Comp	2,763.49	▼	-17.53	▼	-0.63%	*CLOSED HOLIDAY* 
	Taiwan_Weight	8,063.00	▼	-68.24	▼	-0.84%	*CLOSED HOLIDAY* 
	Nikkei_225___	14,952.61	▼	-760.78	▼	-4.84%		
	Hang_Seng.__	18,319.58	▼	-226.22	▼	-1.22%		
	Strait_Times.__	2,539.95	▲	1.67	▲	0.07%		
	NZX_50_Index_	5,933.96	▼	-53.06	▼	-0.89%		

http://finance.yahoo.com/news/us-stocks-open-higher-oil-153206416.html

*US stocks end a down week on an up note

A rebound in bank shares and energy companies lifts US shares after 5 straight down days*
Associated Press By Alex Veiga, AP Business Writer

U.S. stocks ended a down week on a high note Friday, snapping a five-day losing streak on the strength of energy and financial companies.

A sharp rebound in oil prices and an encouraging report on retail sales helped lift the stock market to its first gain since late last week.

Despite the rally, the major U.S. stocks indexes ended the week down about 1 percent and they remain down more than 8 percent for the year.

"It's a relief to see after several very ugly days in a row, but I wouldn't hang my hat on it and say the worst is over," said Rob Eschweiler, global investment specialist at J.P. Morgan.

The Dow Jones industrial average rose 313.66 points, or 2 percent, to 15,973.84. The Standard & Poor's 500 gained 35.70 points, or 2 percent, to 1,864.78. The Nasdaq composite added 70.67 points, or 1.7 percent, to 4,337.51.

Global stocks have been in a slump since the beginning of the year on concerns that growth in China, which has been the engine of the global economy in recent years, is slowing far faster than expected. Plunging oil prices and low inflation have added to the market's jitters that the global economy is sputtering.

Those worries also helped drive the stock market lower in recent days, and continued to batter stocks in Asia. Japan's main stock index lost nearly 5 percent Friday. But the downbeat trend in the U.S. snapped as investors were encouraged by retail sales and a rally in European stocks.

A surge in oil prices helped put investors in a buying mood early on. A day after sinking to its lowest level since May 2003, benchmark U.S. crude climbed $3.23, or 12.3 percent, to close at $29.44 a barrel in New York. Brent crude, a benchmark for international oils, gained $3.30, or 11 percent, to $33.36 a barrel in London.

The oil rebound sent the S&P 500's energy companies 2.6 percent higher. Marathon Oil was the best performer in the sector, rising 48 cents, or 6.8 percent, to $7.49.

"Oil, which has been one of the most fickle, most volatile series that everybody's watching, is having a nice day," said Tim Dreiling, regional investment director for The Private Client Reserve of U.S. Bank. "Europe is continuing to look good. And it looked like (the market) was oversold."

Financial shares led the market's advance. The sector is the worst performing part of the market this year because investors expect that low interest rates around the world will sap bank profits, but it rallied 4 percent Friday.

JP Morgan Chase climbed $4.42, or 8.3 percent, to $57.49, while Citigroup added $2.56, or 7.3 percent, to $37.54. Bank of America rose 79 cents, or 7.1 percent, to $11.95. Meanwhile, Deutsche Bank AG surged 12.1 percent after the bank offered to buy back more than $5 billion in bonds in a display of financial strength. The stock gained $1.87 to $17.38.

Traders also welcomed a report from the Commerce Department indicating a modest gain in retail sales last month. The data, which came in ahead of expectations, suggested that consumers kept shopping despite sharp drops in stock prices.

The positive sales report and recent jobs data showing a pickup in wage growth suggest the economy is holding up better than Wall Street thinks, Eschweiler said.

"It solidifies our view that the markets are pricing in a significantly higher probability of recession than what we think the fundamentals currently dictate," he said.

Encouraging quarterly results from some companies also helped lift the market.

Wynn Resorts surged 15.8 percent after the casino operator reported better-than-expected quarterly results Thursday. The stock gained $9.45 to $69.14.

Groupon vaulted 29 percent after the online daily deal service's latest quarterly profit and revenue topped Wall Street estimates. The stock added 65 cents to $2.89.

Some companies didn't fare as well, however.

Activision Blizzard slid 7.9 percent after the video game company' reported weaker-than-anticipated quarterly revenue Thursday. The stock was one of the biggest decliners in the S&P 500 index, losing $2.40 to $28.12.

Pandora Media slumped 12 percent after the Internet radio company's fourth-quarter profit fell short of estimates and the company didn't comment on rumors that it's looking to sell itself. The stock lost $1.09 to $8.

In Europe, Germany's DAX was up 2.5 percent, while France's CAC 40 was up 2.5 percent. Britain's FTSE 100 rose 3.1 percent.

In Asia, Japan's main stock index fell sharply, leading other Asian markets lower. Tokyo's Nikkei 225 plunged 4.8 percent after earlier sinking as much as 5.3 percent. Hong Kong's Hang Seng fell 1.2 percent. South Korea's Kospi gave up 1.4 percent and Australia's S&P/ASX 200 fell 1.2 percent. Shares in New Zealand and Southeast Asia also fell. Markets in China and Taiwan were closed all week for Lunar New Year holidays and will reopen on Monday.

A day after surging 4.5 percent, gold fell $8.40, or 0.7 percent, to $1,239.40 an ounce. Silver was flat at $15.79 an ounce. Copper, an industrial metal that will often rise and fall along with investor's optimism about the global economy, rose 2 cents, or 1.1 percent, to $2.03 a pound.

In other energy trading in New York, wholesale gasoline jumped 10 cents, or 10.8 percent, to close at $1.04 a gallon, while home heating oil climbed 9 cents, or 9.2 percent, to close at $1.07 a gallon. Natural gas fell 3 cents, or 1.4 percent, to $1.97 per 1,000 cubic feet.

Bond prices fell. The yield on the 10-year Treasury rose to 1.74 percent from 1.66 percent late Thursday.

In currency markets, the dollar rose to 113.26 yen from 112.27, while the euro fell to $1.1255 from $1.1330.

9087


----------



## bigdog

Source: http://finance.yahoo.com 

*The NYSE was closed for Washington's Birthday	Monday February 15*

 *The NYSE DOW closed  	HIGHER ▲	313.66	points or ▲	2.00%	on	Friday, February 12, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	15,973.84	▲	313.66	▲	2.00%	*CLOSED FOR HOLIDAY* 
	Nasdaq____	4,337.51	▲	70.67	▲	1.66%	*CLOSED FOR HOLIDAY* 
	S&P_500___	1,864.78	▲	35.70	▲	1.95%	*CLOSED FOR HOLIDAY* 
	30_Yr_Bond____	2.61	▲	0.10	▲	4.03%	*CLOSED FOR HOLIDAY* 

NYSE Volume	 4,669,264,500 	 	 	 	 	  		 
Nasdaq Volume	 1,873,037,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,824.28	▲	116.68	▲	2.04%		
	DAX_____	9,206.84	▲	239.33	▲	2.67%		
	CAC_40__	4,115.25	▲	120.19	▲	3.01%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,893.40	▲	76.80	▲	1.59%		
	Shanghai_Comp	2,746.20	▼	-17.30	▼	-0.63%		
	Taiwan_Weight	8,066.51	▲	3.51	▲	0.04%		
	Nikkei_225___	16,022.58	▲	1,069.97	▲	7.16%		
	Hang_Seng.__	18,918.14	▲	598.56	▲	3.27%		
	Strait_Times.__	2,607.90	▲	67.95	▲	2.68%		
	NZX_50_Index_	6,034.28	▲	100.32	▲	1.69%		

http://finance.yahoo.com/news/japan-stocks-zoom-poor-growth-051954062.html

*World stocks rally after Japan's Nikkei jumps 7.2 percent

Japanese stocks rocketed Monday, leading a global market rally after dismal growth data raised hopes of extra stimulus for the world's third-biggest economy
*
 By Kelvin Chan, AP Business Writer

HONG KONG (AP) -- World stocks rallied on Monday, led by a jump in Japan's main index, amid hopes for more stimulus from central banks in Europe and Japan.

Will Wall Street closed for Presidents' Day, Japan's benchmark Nikkei 225 soared 7.2 percent to close at 16,022.58, rebounding from last week's slump to post its second biggest one-day gain in three years.

That led to big gains in Europe, where Britain's FTSE 100 closed 2 percent higher at 5,824.28 and Germany's DAX gained 2.7 percent to 9,206.84. France's CAC 40 rose 3 percent to close at 4,115.25.

Stocks began rallying after government data showed Japan's economy shrank 1.4 percent on an annualized basis last quarter because of weak consumer demand and slower exports. It's a setback for Prime Minister Shinzo Abe's economic revival program, which aims to stoke inflation through massive monetary easing. However, the report also gives the government more reason to open the stimulus taps wider to restore growth, economists said.

"Together with the recent slump in the Nikkei and the appreciation of the yen, the case for additional easing remains compelling," said Marcel Thieliant of Capital Economics. He predicted the Bank of Japan will step up bond purchases and push interest rates that are already in negative territory even lower.

Investor sentiment was also bolstered by comments from China's central bank chief playing down the likelihood of a one-off devaluation of the yuan.

People's Bank of China Governor Zhou Xiaochuan signaled in a Caixin magazine interview published over the weekend that there was no basis for further depreciation of China's currency, providing relief for the country's exporting neighbors worried that a weakening yuan would hurt their competitiveness.

Later in the day, stocks were nudged higher and the euro fell sharply after the European Central Bank reiterated that more stimulus would be considered at the next policy meeting in March.

The euro was down 1 percent at $1.1138 after ECB chief Mario Draghi said Monday there were "a variety of instruments" the ECB could employ if it decided more stimulus is needed. It could pump more money into the economy or cuts rates further, something that would weigh on the value of the euro.

U.S. futures, meanwhile, rose. Dow futures up 1.2 percent and those for the S&P 500 up 1.3 percent.

Elsewhere, South Korea's Kospi climbed 1.5 percent to 1,862.20 and Hong Kong's Hang Seng was up 3.3 percent to 18,918.14. Australia's S&P/ASX 200 rose 1.6 percent to 4,843.50. Taiwan's benchmark was flat while markets in Southeast Asia gained.

The Shanghai Composite Index in mainland China, though, lost 0.6 percent to finish at 2,746.20 after reopening following the Lunar New Year holiday.

Chinese shares were also weighed down by the latest monthly trade figures. Exports fell 11 percent while imports slid by nearly a fifth, according to customs data, highlighting persistent weakness in the world's second biggest economy.

Economists, however, were reserving final analysis until figures for February are out because the timing of the Lunar New Year holiday distorts China's economic data at the beginning of the year.

In energy trading, benchmark U.S. crude oil futures rose 29 cents to $29.73 a barrel in electronic trading on the New York Mercantile Exchange. The contract climbed $3.23 on Friday. Brent crude, a benchmark for international oils, gained 5 cents to $34.04 a barrel in London


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	222.57	points or ▲	1.39%	on	Tuesday, February 16, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,196.41	▲	222.57	▲	1.39%		
	Nasdaq____	4,435.96	▲	98.44	▲	2.27%		
	S&P_500___	1,895.58	▲	30.80	▲	1.65%		
	30_Yr_Bond____	2.64	▲	0.04	▲	1.42%		

NYSE Volume	 4,544,305,000 	 	 	 	 	  		 
Nasdaq Volume	 2,066,166,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,862.17	▲	37.89	▲	0.65%		
	DAX_____	9,135.11	▼	-71.73	▼	-0.78%		
	CAC_40__	4,110.66	▼	-4.59	▼	-0.11%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,961.60	▲	68.20	▲	1.39%		
	Shanghai_Comp	2,836.57	▲	90.37	▲	3.29%		
	Taiwan_Weight	8,212.07	▲	145.56	▲	1.80%		
	Nikkei_225___	16,054.43	▲	31.85	▲	0.20%		
	Hang_Seng.__	19,122.08	▲	203.94	▲	1.08%		
	Strait_Times.__	2,644.58	▲	36.68	▲	1.41%		
	NZX_50_Index_	6,075.37	▲	41.09	▲	0.68%		

http://finance.yahoo.com/news/us-stocks-rising-second-day-154255310.html#

*US stocks rise for the second day in a row in broad rally*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” Stocks closed broadly higher as the market notched its second sizable gain in a row. Retail and industrial stocks made the biggest gains as they were lifted by company earnings, some good news from China's economy, and hope that Japan's struggling economy will get another boost.

Indexes were higher all day and almost matched the big gains they made on Friday. Strong quarterly results gave some company stocks a boost and investors worried a bit less about China and Japan.

For a change, stocks traded higher even though the price of oil slumped. Investors were skeptical that OPEC nations will sign off on a deal to freeze production, so U.S. crude sank after a big rally on Friday.

The Dow Jones industrial average added 222.57 points, or 1.4 percent, to 16,196.41. The Standard & Poor's 500 index rose 30.80 points, or 1.7 percent, to 1,895.58. The Nasdaq composite climbed 98.44 points, or 2.3 percent, to 4,435.96.

The S&P 500 had climbed 2 percent on Friday. It had been two months since the S&P 500 rose at least 1 percent for two consecutive days. The U.S. market was closed Monday for the Presidents Day holiday.

ADT surged after the home security company accepted an offer from investment company Apollo Global Management worth $42 per share, or $6.94 billion. Its stock rose $12.77, or 47.5 percent, to $39.64. Apollo Global added 72 cents, or 5.4 percent, to $14.12.

Amazon rose $14.02, or 2.8 percent, to $521.10. Home Depot rose $3.11, or 2.7 percent, to $119.43 and competitor Lowe's gained $2.56, or 3.9 percent, to $67.43.

Hormel, the maker of Spam and Dinty Moore stew among other foods, had its best day in almost seven years after the company posted a stronger-than-expected quarterly profit and raised its forecast for the year. Its stock climbed $2.94, or 7.1 percent, to $44.44. It's up 60 percent over the last year.

Restaurant Brands, the parent company of Burger King and Tim Hortons, jumped $1.81, or 5.7 percent, to $33.82 after the company said an important sales measurement rose at both of its chains in the fourth quarter.

Hospital stocks tumbled after Community Health Systems said admissions decreased in the fourth quarter. That's partly because it had more patients last year with respiratory illnesses and the flu. The company took a loss as it absorbed impairment charges and set aside more money to cover unpaid bills.

The stock plunged $4.12, or 22.1 percent, to $14.56.

It's been a bad couple of weeks for company earnings. Three-fourths of the companies listed on the S&P 500 have reported their quarterly results, and earnings are expected to fall almost 5 percent compared with a year ago, according to S&P Capital IQ. That's mostly because of plunging oil prices, which are pummeling energy company profits.

Analyst Lindsey Bell of S&P Global Markets Intelligence says that we're in the middle of a cycle that will see S&P 500 profits fall for four quarters in a row, but the market is focused on other issues, including concerns about the health of China's economy and central bank policy.

"You don't hear a lot of people talking about how we're going to have a nearly five-percent decline in earnings," she said.

Bell says earnings will start growing again later this year because companies have lowered the bar. Still, analysts are swiftly lowering their estimates for 2016. She says analysts now expect earnings growth of 2.9 percent, down from 7.4 percent at the start of 2016.

Daily deals site Groupon notched a large gain for the second day in a row. The stock rose $1.19, or 41.2 percent, to $4.08 after Chinese e-commerce site Alibaba disclosed it had taken a 5.6 percent stake in the company. Groupon stock jumped 29 percent Friday after the company reported its fourth-quarter results, but the stock is still in a big slump over the last year.

Tuesday started with gains for Asian stocks. China's central bank guided the yuan higher, pushing the currency close to its highest level of the year. That's a positive sign for the Chinese economy. Along with many other factors, weakness in the yuan this year has caused investors to worry about the health of the Chinese economy. China's official news agency also said new yuan loans climbed in January.

In Japan, a report showed the economy was weaker than expected, but that still gave stocks a boost because investors hope it will convince the Bank of Japan to take further steps to stimulate the economy.

Japan's Nikkei added 0.2 percent after soaring 7.2 percent the day before, its biggest daily gain since September. Hong Kong's Hang Seng advanced 1.1 percent.

Stocks in Europe mostly fell. Germany's DAX lost 0.8 percent and France's CAC 40 slipped 0.1 percent. However Britain's FTSE 100 rose 0.7 percent.

Russia and Saudi Arabia said Tuesday they had reached a deal to freeze their oil output, but the deal won't take effect unless other OPEC nations also agree to it. Analysts say Iran probably won't sign on because it wants to increase production following its period of sanctions.

U.S. crude lost 40 cents, or 1.4 percent, to $29.04 a barrel in New York. It jumped 12 percent Friday, its biggest gain in years.

Brent crude, a benchmark for international oils, gave up $1.21, or 3.6 percent, to $32.18 a barrel in London.

Wholesale gasoline fell 7.2 cents, or 6.9 percent, to 97.1 cents a gallon. Heating oil fell 4.2 cents, or 4 percent, to $1.027 a gallon. Natural gas slid 6.3 cents, or 3.2 percent, to $1.903 per 1,000 cubic feet.

The prices of gold and silver have climbed this year as investors look for safety in a turbulent market. With the stock market bouncing back on Tuesday, the price of gold sank $31.20, or 2.5 percent, to $1,208.20 an ounce, and silver fell 45.6 cents, or 2.9 percent, to $15.334 an ounce. Copper rose 2.2 cents to $2.051 a pound.

The yield on the 10-year Treasury note rose to 1.78 percent from 1.75 percent Friday. The dollar rose to 113.88 yen from 113.26 yen. The euro slipped to $1.114 from $1.126.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	257.42	points or ▲	1.59%	on	Wednesday, February 17, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,453.83	▲	257.42	▲	1.59%		
	Nasdaq____	4,534.06	▲	98.11	▲	2.21%		
	S&P_500___	1,926.82	▲	31.24	▲	1.65%		
	30_Yr_Bond____	2.69	▲	0.04	▲	1.67%		

NYSE Volume	 4,939,777,500 	 	 	 	 	  		 
Nasdaq Volume	 2,339,105,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,030.32	▲	168.15	▲	2.87%		
	DAX_____	9,377.21	▲	242.10	▲	2.65%		
	CAC_40__	4,233.47	▲	122.81	▲	2.99%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,938.40	▼	-23.20	▼	-0.47%		
	Shanghai_Comp	2,867.34	▲	30.77	▲	1.08%		
	Taiwan_Weight	8,214.25	▲	2.18	▲	0.03%		
	Nikkei_225___	15,836.36	▼	-218.07	▼	-1.36%		
	Hang_Seng.__	18,924.57	▼	-197.51	▼	-1.03%		
	Strait_Times.__	2,613.79	▼	-30.79	▼	-1.16%		
	NZX_50_Index_	6,085.57	▲	10.20	▲	0.17%		

http://finance.yahoo.com/news/stocks-rising-again-higher-oil-153737416.html

*Stocks leap for a 3rd day, driven by gains in oil and tech*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” Stocks climbed Wednesday as investors clung to hope for an international deal to stem a global glut in crude oil with production cutbacks. That sent the price of oil sharply higher, as well as the stocks of major energy companies like Chevron. Tech stocks also rose, led by Microsoft and Facebook.

The gains capped a three-day rally, the longest so far in 2016, that has wiped out about half of the market's losses since the beginning of the year. The Standard & Poor's 500 index hit its lowest point of the year last Thursday, and has risen about 5 percent since then.

Priceline, Fossil, and Garmin rose after reporting robust earnings.

The Dow Jones industrial average gained 257.42 points, or 1.6 percent, to 16,453.83. The S&P 500 rose 31.24 points, or 1.7 percent, to 1,926.82. The Nasdaq composite index jumped 98.11 points, or 2.2 percent, to 4,534.06.

The price of oil recovered as investors again hoped for an international deal that will cap or cut production. Several OPEC nations are in talks about freezing production at January's levels, but that deal requires all of OPEC's members to agree, and Iran said Wednesday that it won't stop increasing its exports. Still, investors appeared to be encouraged that the countries are talking.

The price of U.S. crude jumped $1.62, or 5.6 percent, to $30.66 a barrel in New York. Brent crude, a benchmark for international oils, rose $2.32, or 7.2 percent, to $34.50 a barrel in London.

U.S. crude soared Friday on anticipation of a deal, but even with the recent gains, it's still down 17 percent this year.

Energy stocks climbed along with the price of oil. Chevron rose $3.50, or 4.1 percent, to $88.31 and Hess picked up $2.63, or 6.4 percent, to $43.47. Tech stocks made big gains, led by Microsoft, which added $1.33, or 2.6 percent, to $52.42, and Facebook, which rose $3.59, or 3.5 percent, to $105.20.

Oil and natural gas company Devon Energy missed out on those gains after saying it will eliminate 20 percent of its staff in the first quarter and slash its spending and its quarterly dividend in response to the diminished price of oil.

The stock lost 93 cents, or 4.4 percent, to $20.33. It's down 69 percent over the last year.

For almost six months, stocks have surged and dropped repeatedly as investors worry about issues like the health of China's economy, the Federal Reserve's plans on interest rates, and plunging oil prices. Sameer Samana, global quantitative strategist for Wells Fargo Investment Institute, said the ride isn't over yet.

"None of those issues have gone away," Samana said. "You'll continue to see that kind of pattern."

Samana said U.S. companies, and large stocks in particular, are doing pretty well and that investors will eventually start paying more attention to their performance. But he said it's possible that volatility in financial markets will start to affect the broader economy, cutting into consumer spending and prompting businesses to cut jobs.

While corporate earnings have been shaky, companies that surpassed analysts' expectations were rewarded on Wednesday. Online travel company Priceline climbed after its profit and revenue beat estimates. The stock gained $124.88, or 11.2 percent, to $1,235.56. Expedia rose 5 percent and TripAdvisor 3 added percent. Expedia and TripAdvisor posted strong results last week.

Personal navigation device maker Garmin rose $5.83, or 16.5 percent, to $41.06 after its fourth-quarter profit topped Wall Street estimates.

Watch and accessories maker Fossil posted strong results, and its annual profit guidance also pleased investors. The stock added $9.84, or 28.6 percent, to $44.30. Fossil was one of the worst-performing stocks in the S&P 500 last year. It lost almost two-thirds of its value as fitness trackers became more popular and the Apple Watch was launched.

Pipeline company Kinder Morgan jumped 10 percent on the rise in oil prices and from the news that Warren Buffett's Berkshire Hathaway has taken a 1.2 percent stake in the company. The stock advanced $1.56 and closed at $17.18.

U.S. factories cranked out more cars, furniture and food in January. The Federal Reserve said factory output rose 0.5 percent, the biggest increase since July. Output had fallen in four of the previous five months, and the data suggests U.S. manufacturing may be recovering after struggling last year. While the strong dollar and weak overseas growth have cut into exports and corporate profits, Americans are spending at a solid pace.

In other energy trading, wholesale gasoline rose 3.3 cents to $1 a gallon. Heating oil rose 6.1 cents, or 5.9 percent, to $1.088 a gallon. Natural gas added 3.9 cents, or 2 percent, to $1.942 per 1,000 cubic feet.

The price of gold rose $3.20 to $1,211.40 an ounce and silver inched up 4.3 cents to $15.377 an ounce. Copper added 2.5 cents to $2.076 a pound.

European stocks also rallied. Germany's DAX rose 2.7 percent and France's CAC 40 gained 3 percent. Britain's FTSE 100 picked up 2.9 percent. Asian stocks slumped, however. Japan's Nikkei 225 fell 1.4 percent as investors shrugged off data showing strong machinery orders in January. Hong Kong's Hang Seng dropped 1 percent while the Shanghai Composite rose 1.1 percent.

The yield on the 10-year Treasury note jumped to 1.82 percent from 1.78 percent. The dollar slipped to 113.77 yen from 113.88 yen. The euro slipped to $1.1139 from $1.1144.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-40.4	points or ▼	-0.25%	on	Thursday, February 18, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,413.43	▼	-40.40	▼	-0.25%		
	Nasdaq____	4,487.54	▼	-46.53	▼	-1.03%		
	S&P_500___	1,917.83	▼	-8.99	▼	-0.47%		
	30_Yr_Bond____	2.63	▼	-0.05	▼	-2.01%		

NYSE Volume	 4,390,492,000 	 	 	 	 	  		 
Nasdaq Volume	 2,191,539,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,971.95	▼	-58.37	▼	-0.97%		
	DAX_____	9,463.64	▲	86.43	▲	0.92%		
	CAC_40__	4,239.76	▲	6.29	▲	0.15%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,047.10	▲	108.70	▲	2.20%		
	Shanghai_Comp	2,862.89	▼	-4.45	▼	-0.16%		
	Taiwan_Weight	8,314.67	▲	100.42	▲	1.22%		
	Nikkei_225___	16,196.80	▲	360.44	▲	2.28%		
	Hang_Seng.__	19,363.08	▲	438.51	▲	2.32%		
	Strait_Times.__	2,657.57	▲	43.78	▲	1.67%		
	NZX_50_Index_	6,111.09	▲	25.52	▲	0.42%		

http://finance.yahoo.com/news/us-stocks-slip-wal-mart-154834426.html

*Stocks slip as 3-day rally ends; Wal-Mart sinks retailers*
Associated Press By MARLEY JAY

NEW YORK (AP) - Stocks slipped Thursday as a three-day rally ran out of steam. A surge in oil prices also slowed down, and consumer stocks fell after Wal-Mart reported disappointing sales and cut its projections for the year.

The losses were small but spread across many industries. Energy stocks fell the most, followed by banks. Those stocks had made big gains over the last three days as the market rallied. Wal-Mart's weak results put pressure on other retailers as well as supermarket chains.

The Dow Jones industrial average gave up 40.40 points, or 0.3 percent, to 16,413.43. The Standard & Poor's 500 index lost 8.99 points, or 0.5 percent, to 1,917.83. The Nasdaq composite index slid 46.53 points, or 1 percent, to 4,487.54.

Wal-Mart's profit fell compared to last year and its sales were weaker than analysts expected. The retailer now says its net sales this year will be about the same as in 2015. It's struggling with competition from online giant Amazon and other retailers and is also paying its employees more, which has reduced its profits. In January the company said it would close 269 stores.

On Thursday the stock lost $1.99, or 3 percent, to $64.12. It's down 26 percent over the last year.

Wal-Mart is the first major retailer to report its quarterly results. Competitors including Target, JC Penney and Macy's will follow next week. Retail consultant Walter Loeb said he thinks most of those competitors will also report disappointing results.

"There are many, many retailers who have not been proactive in keeping their expenses in check," he said, adding that weakening sales growth makes that a bigger problem. Loeb said consumers are spending cautiously because they are worried about job security and aren't sure if the U.S. economy will keep growing.

J.C. Penney lost 20 cents, or 2.6 percent, to $7.63 and Costco fell $2.26, or 1.5 percent, to $148.65. Wal-Mart's struggles also affected supermarkets, as the company noted that meat and dairy prices are down. Kroger fell $1.35, or 3.5 percent, to $38.06.

Oil prices fluctuated after a big rally over the last few days. Investors are hoping that a round of international talks will lead to a deal that addresses a glut in oil production, but the U.S. government reported that energy stockpiles are still growing.

U.S. crude added 11 cents to close at $30.77 a barrel in New York. The price of U.S. oil has climbed 17 percent over the last week. Brent crude, a benchmark for international oils, lost 22 cents to close at $34.28 a barrel in London.

With oil prices trading around 13-year lows, at least six OPEC nations have backed a plan that would stop oil production from increasing any further. That would help address a giant supply glut. Iran, which has not agreed to the deal and has said it wants to keep increasing its production, said it supports any measure to raise oil prices.

Investors saw that as a good sign, but the deal won't go into effect unless all 13 OPEC members agree to it. Meanwhile, stockpiles keep growing. According to an Energy Information Administration report, oil inventories grew by 2.1 million barrels and gasoline stockpiles increased by 3 million barrels.

Independent analyst Jim Ritterbusch said people are driving a bit more because the price of gas has plunged, but it's not a big change, so it's not helping improve prices.

"It looks like gasoline demand is still soft," he said. "You can only buy and sell so many SUVs."

While oil companies have shut down hundreds of oil drilling rigs, it will be months before oil production really slows down because drilling operations have become much more efficient, Ritterbusch said.

The S&P 500 jumped more than 5 percent over the past three days, with banks and consumer stocks making the biggest gains. That rally erased about half of the index's losses since the beginning of the year.

Financial stocks had made the largest gains during the three-day rally, as the S&P 500's financial stock index jumped more than 7 percent over the three days ending on Wednesday. JPMorgan Chase retreated 96 cents, or 1.6 percent, to $57.81 and Bank of America fell 32 cents, or 2.5 percent, to $12.24.

IBM climbed after the company said it will buy Truven Health analytics for $2.6 billion, expanding the health care capabilities of its Watson computing system. IBM rose $6.35, or 5 percent, to $132.45, by far the largest gain in the Dow average.

Logistics company Ingram Micro surged $6.69, or 22.6 percent, to $36.34 after it agreed to be bought by Chinese shipping company Tianjin Tianhai. The deal values Ingram at about $6 billion, or $38.90 per share.

With the broader market slumping, investors returned again to the safe havens of telecom and utilities stocks. Those were the only S&P 500 sectors that traded higher, and they're also the only sectors that have made big gains in 2016.

European markets were mixed. Germany's DAX rose 0.9 percent and France's CAC 40 inched up 0.2 percent, but Britain's FTSE 100 slipped 1 percent. Asian stock markets rose. Japan's Nikkei 225 jumped 2.3 percent and South Korea's Kospi rose 1.3 percent. Hong Kong's Hang Seng surged 2.3 percent.

In metals trading, gold rose $14.90, or 1.2 percent, to $1,226.30 an ounce and silver added 5.5 cents to $15.432 an ounce. Copper inched down to $2.074 a pound.

The yield on the 10-year Treasury note fell to 1.74 percent from 1.82 percent. The euro fell to $1.1099 from $1.1139. The dollar slid to 113.58 yen from 113.77 yen.

In other energy trading, wholesale gasoline fell 3.1 cents to 97.2 cents a gallon. Heating oil declined 0.9 cents to $1.079 a gallon. Natural gas slipped 9 cents, or 4.6 percent, to $1.852 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-21.44	points or ▼	-0.13%	on	Friday, February 19, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,391.99	▼	-21.44	▼	-0.13%		
	Nasdaq____	4,504.43	▲	16.89	▲	0.38%		
	S&P_500___	1,917.78	▼	-0.05	▲	0.00%		
	30_Yr_Bond____	2.61	▼	-0.03	▼	-1.03%		

NYSE Volume	 4,119,230,750 	 	 	 	 	  		 
Nasdaq Volume	 2,101,844,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,950.23	▼	-21.72	▼	-0.36%		
	DAX_____	9,388.05	▼	-75.59	▼	-0.80%		
	CAC_40__	4,223.04	▼	-16.72	▼	-0.39%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,008.30	▼	-38.80	▼	-0.77%		
	Shanghai_Comp	2,860.02	▼	-2.87	▼	-0.10%		
	Taiwan_Weight	8,325.04	▲	10.37	▲	0.12%		
	Nikkei_225___	15,967.17	▼	-229.63	▼	-1.42%		
	Hang_Seng.__	19,285.50	▼	-77.58	▼	-0.40%		
	Strait_Times.__	2,656.87	▼	-0.70	▼	-0.03%		
	NZX_50_Index_	6,141.71	▲	30.62	▲	0.50%		

http://finance.yahoo.com/news/global-stock-markets-oil-price-144333117.html 
*Stocks edge lower again, but wrap up best week of the year *
 By MARLEY JAY
The Associated Press

NEW YORK (AP) ”” U.S. stocks inched lower Friday as the price of oil slipped and investors worried again about the health of the global economy. Chemicals companies fell the most. Despite the loss, the market still had its best week of the year.

Stocks declined as the price of oil slipped 4 percent, giving back some of its gains from the last week, and agricultural equipment giant Deere cut its sales projections. That helped touch off a wider slump that hurt chemicals, materials and mining companies. Consumer stocks like home improvement retailers and travel companies rose after the government said consumer prices are rising, a sign the U.S. economy is in good shape.

The Dow Jones industrial average fell 21.44 points, or 0.1 percent, to 16,391.99. The Standard & Poor’s 500 index dipped 0.05 points to 1,917.78. The Nasdaq composite index rose 16.89 points, or 0.4 percent, to 4,504.43.

Stocks made big gains Tuesday and Wednesday. Then the rally stalled and indexes took small losses over the last two days. Still, the Nasdaq, which is still down 10 percent this year, logged its biggest weekly gain since July and the S&P 500 had its best week in two months.

Benchmark U.S. crude fell $1.13, or 3.7 percent, to $29.64 a barrel in New York. It climbed 17 percent over the previous week. Brent crude, a benchmark for international oils, slid $1.27, or 3.7 percent, to $33.01.

That sent oil and gas stocks tumbling. Southwestern Energy dropped $1.40, or 16.5 percent, to $7.09 and Murphy Oil fell $1.24, or 7.3 percent, to $15.76.

Agricultural equipment company Deere lowered its sales forecast for the year as sales of farm and construction remain weak. That canceled out first-quarter results that were better than analysts expected. Deere lost $3.33, or 4.1 percent, to $77. Elsewhere, chemicals maker LyondellBassell Industries dipped $2.06, or 2.6 percent, to $78.14 and agricultural chemicals maker Monsanto fell $1.40, or 1.6 percent, to $88.52.

The government reported that consumer goods prices are still rising, and consumer stocks traded higher. Online retailer Amazon gained $9.90, or 1.9 percent, to $534.90, while home improvement retailer Home Depot added $1.72, or 1.4 percent, to $121.69 and online travel company Priceline rose $31.79, or 2.5 percent, to $1,283.74.

The Labor Department said prices for consumer goods have risen 1.4 percent over the last year, a sign that the pace of inflation is picking up and the economy is improving. The combination of a strong dollar and cheaper oil has suppressed inflation across much of the economy, but prices of other goods have been rising.

Michael Scanlon, managing director and portfolio manager for John Hancock Asset Management, said consumers are still spending plenty of money on cars, homes and travel. He thinks that spending is going to grow.

“People feel more stable in their jobs with increasing wages (and) home prices continue to rise,” he said.

Gas prices are also very low, and while consumers have mostly put their gas savings in the bank instead of spending it, Scanlon thinks that’s going to change. Gas prices have stayed low for more than a year, and he thinks shoppers will start to trust that pump prices are going to stay low.

For the moment, retailers are continuing to struggle. Department store operator Nordstrom disappointed Wall Street with its holiday-season results. The company said its sales were weaker than it expected and its profits were hurt because it had to match discounts offered by competitors.

Nordstrom gave up $3.55, or 6.7 percent, to $49.17 while Macy’s fell 90 cents, or 2.2 percent, to $40.23 and JC Penney lost 31 cents, or 4.1 percent, to $7.32. Retail stocks also stumbled Thursday after Wal-Mart reported weak quarterly sales and cut its forecasts for the year. Several other major retailers will report their quarterly results next week.

Department stores have struggled since they disclosed weak third-quarter results in November. Nordstrom is down 23 percent since its previous report a little more than three months ago.

Chipmaking equipment company Applied Materials climbed after it reported stronger-than-expected profit and sales. Its stock gained $1.21, or 7 percent, to $18.38. That was its biggest increase in almost two years.

Yahoo rose 62 cents, or 2 percent, to $30.04 after the Internet company said it has created a committee of independent directors and hired advisers as part of an effort to redefine itself. Big shareholders are pushing Yahoo to sell its main Internet business. The company eliminated 15 percent of its staff earlier this month.

European stocks fell as the leaders of Britain and the rest of the 28-country European Union entered a second day of talks on how to reform the country’s membership in the bloc. The talks are stalled over a series of issues, including immigration rights.

Germany’s DAX fell 0.8 percent, while France’s CAC 40 and Britain’s FTSE 100 both declined 0.4 percent. Asian stocks were mixed, as Japan’s benchmark Nikkei 225 lost 1.4 percent and South Korea’s Kospi added 0.4 percent. Hong Kong’s Hang Seng fell 0.4 percent and the Shanghai Composite in mainland China inched down 0.1 percent.

In other energy trading, wholesale gasoline fell 1.3 cents to 95.9 cents a gallon. Heating oil lost 5.4 cents, or 5 percent, to $1.026 a gallon. Natural gas slid 4.8 cents, or 2.6 percent, to $1.804 per 1,000 cubic feet.

The price of gold increased $4.50 to $1,230.80 an ounce and silver fell 5.9 cents to $15.373 an ounce. Copper held steady at $2.068 a pound.

Bond prices ticked lower. The yield on the 10-year Treasury note rose to 1.76 percent from 1.74 percent. The euro rose to $1.1135 from $1.1094 Thursday. The dollar fell to 112.56 yen from 113.57 yen.

0023


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-188.88	points or ▼	-1.14%	on	Tuesday, February 23, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,431.78	▼	-188.88	▼	-1.14%		
	Nasdaq____	4,503.58	▼	-67.02	▼	-1.47%		
	S&P_500___	1,921.27	▼	-24.23	▼	-1.25%		
	30_Yr_Bond____	2.60	▼	-0.02	▼	-0.84%		

NYSE Volume	 3,829,548,250 	 	 	 	 	  		 
Nasdaq Volume	 1,841,024,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,962.31	▼	-75.42	▼	-1.25%		
	DAX_____	9,416.77	▼	-156.82	▼	-1.64%		
	CAC_40__	4,238.42	▼	-60.28	▼	-1.40%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,039.10	▼	-17.50	▼	-0.35%		
	Shanghai_Comp	2,903.33	▼	-23.84	▼	-0.81%		
	Taiwan_Weight	8,334.64	▲	7.96	▲	0.10%		
	Nikkei_225___	16,052.05	▼	-59.00	▼	-0.37%		
	Hang_Seng.__	19,414.78	▼	-49.31	▼	-0.25%		
	Strait_Times.__	2,672.07	▲	11.42	▲	0.43%		
	NZX_50_Index_	6,175.67	▲	36.21	▲	0.59%		

http://finance.yahoo.com/news/stocks-open-slightly-lower-wall-street-151853249.html

*Stocks end lower on Wall Street as commodities prices fall

Stocks fall broadly as commodity prices retreat*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks fell broadly on Tuesday as commodity prices retreated. Crude oil sank more than 4 percent. Investors remained worried about growth in China as the country cut the value of its currency against the dollar yet again.

Investors were also discouraged by a report showing that consumer confidence fell to its lowest level in seven months.

The Dow Jones industrial average fell 188.88 points, or 1.1 percent, to 16,431.78. The Standard & Poor's 500 index lost 24.23 points, or 1.3 percent, to 1,921.27 and the Nasdaq composite fell 67.02 points, or 1.5 percent, to 4,503.58.

As has happened multiple times this year, stocks fell in tandem with energy prices.

Saudi Arabia's oil minister said Tuesday that production cuts to boost oil prices won't work, and said the world's oil market should be allowed to work even if that forces some operators out of business. He also said he expects oil prices to remain low for some time.

Crude oil fell $1.52, or 4.6 percent, to $31.87 a barrel while Brent crude, which is used to price oils internationally, fell $1.42, or 4.1 percent, to $33.27 a barrel in London.

Energy stocks fell far more than the rest of the market, with the energy component of the S&P 500 dropping 3.2 percent.

It's not uncommon to see stocks give up some of their gains after a strong multi-day like the one that happened last week, but traders say the mood in the market is still cautious. They note that trading volume has been far lighter on days the market has risen and heavier on days it has fallen. That suggests there is more interest among investors in getting out of stocks than there is in getting in to them.

"We aren't seeing the buying interest that you would usually see in a major upward swing in the markets," said Ryan Larson, head of U.S. equity trading at RBC Global Asset Management. "Although we have come off the bottom, it's still quite volatile out there."

Investors were also still watching developments out of China, where the People's Bank of China announced it had cut its daily rate between the yuan and the dollar more than expected. The weakening yuan was a major cause of market turmoil in August 2015 as investors worried that it signaled a slowdown in China's economy.

Here in the U.S., a report from the Conference Board showed U.S. consumer confidence fell to 92.2 in February, down sharply from a reading of 97.8 in January and the lowest level since July. Consumers expressed worries about deteriorating business conditions and turbulence in the financial markets for their drop in confidence.

Among individual companies, Fitbit, a maker of wearable fitness trackers, fell $3.44, or 21 percent, to $13.08 after the company issued a weak forecast for 2016.

Dow member United Technologies lost 77 cents, or 1 percent, to $91.60 after the company rejected a merger offer from Honeywell.

U.S. government bond prices rose. The yield on the 10-year Treasury note edged down to 1.72 percent from 1.75 percent a day earlier. The dollar fell to 112.06 yen from 112.83 yen while the euro weakened to $1.1009 from $1.1026.

In other energy prices, heating oil fell 3.3 cents to $1.022 a gallon, wholesale gasoline fell 3.4 cents to 96.6 cents and natural gas fell 3.9 cents to $1.782 per thousand cubic feet.

Precious and industrial metals futures ended mixed. Gold rose $12.50 to $1,222.60 an ounce, silver rose six cents to $15.24 an ounce and copper slipped a penny to $2.11 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	53.21	points or ▲	0.32%	on	Wednesday, February 24, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,484.99	▲	53.21	▲	0.32%		
	Nasdaq____	4,542.61	▲	39.02	▲	0.87%		
	S&P_500___	1,929.80	▲	8.53	▲	0.44%		
	30_Yr_Bond____	2.60	▲	0.00	▲	0.00%		

NYSE Volume	 4,263,738,500 	 	 	 	 	  		 
Nasdaq Volume	 2,034,839,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,867.18	▼	-95.13	▼	-1.60%		
	DAX_____	9,167.80	▼	-248.97	▼	-2.64%		
	CAC_40__	4,155.34	▼	-83.08	▼	-1.96%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,943.30	▼	-95.80	▼	-1.90%		
	Shanghai_Comp	2,928.90	▲	25.56	▲	0.88%		
	Taiwan_Weight	8,282.86	▼	-51.78	▼	-0.62%		
	Nikkei_225___	15,915.79	▼	-136.26	▼	-0.85%		
	Hang_Seng.__	19,192.45	▼	-222.33	▼	-1.15%		
	Strait_Times.__	2,619.96	▼	-52.11	▼	-1.95%		
	NZX_50_Index_	6,230.37	▲	54.70	▲	0.89%		

http://finance.yahoo.com/news/stocks-open-lower-weak-oil-prices-push-energy-151522931.html#
*
Stocks erase an early loss and manage modest gains

The stock market recovered from an early loss and managed a modest gain after the price of crude oil turned higher*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- The stock market reversed steep declines and ended slightly higher on Wednesday, thanks in part to a pickup in the price of crude oil.

Indexes continue to be weighed down by bank stocks, which remain under pressure due to economic unease and worries about the amount of loans on their books to struggling oil and gas companies.

The Dow Jones industrial average rose 53.21 points, or 0.3 percent, to 16,484.99. The Standard & Poor's 500 index rose 8.53 points, or 0.4 percent, to 1,929.80 and the Nasdaq composite rose 39.02 points, or 0.9 percent, to 4,542.61.

Stocks had been dramatically lower earlier in the day, with the Dow down as much as 265 points. However as oil prices recovered through the day, so did energy stocks and the broader market. After being down nearly 4 percent earlier, oil closed up 28 cents, or 1 percent, to $32.15 a barrel. The energy component of the S&P 500, which had been down roughly 2 percent, closed up 1 percent.

"As goes oil, so goes everything," said Ian Winer, co-head of equities trading at Wedbush Securities.

The market's only place of weakness by the end of trading was the financial sector. Bank stocks had some of the biggest losses, and the financial services component of the S&P 500 lost 0.8 percent.

Despite substantial gains in recent days, many investors remain hesitant to commit more money to the market and don't need much reason to sell, analysts say. Bank stocks are often a proxy for how well an economy is expected to do, since loans can sour during an economic slowdown. While oil rose on Tuesday, the pressure on the commodity prices seems to be ever downward.

While oil rose 1 percent Wednesday, crude fell 4 percent the day before after Saudi Arabia's oil minister, Ali Al-Naimi, told a meeting of energy leaders in Houston that production cuts aimed at supporting falling crude prices won't work. He said that the market should instead let some operators go out of business.

"Fundamentally, there's nothing that shows the U.S. economy is faltering here. But people continue to be worried about low commodity prices and there is general unease that has lingered from how the markets started this year," said David Kelly, chief investment strategist at J.P. Morgan Funds.

Bond prices fell. The yield on the 10-year U.S. Treasury note edged rose to 1.75 percent from 1.72 percent.

In other energy trading, heating oil rose 3.7 cents, or 3.6 percent, to $1.059 a gallon, wholesale gasoline futures rose 4.4 cents, or 4.6 percent, to $1.01 a gallon and natural gas fell 0.4 cents, or 0.2 percent, to $1.778 per thousand cubic feet. Brent crude oil, which is used to price oil internationally, rose $1.14, or 3.4 percent, to $34.10 a barrel in London.

In metals trading, gold closed up $16.50, or 1.3 percent, to $1,239.10 an ounce, silver rose 5.2 cents, or 0.3 percent, to $15.33 an ounce and high-grade copper futures fell 0.8 cents, or 0.4 percent, to $2.101 a pound.

The dollar rose to 112.05 yen from 111.97 yen in the previous day's trading. The euro was mostly unchanged unchanged at $1.1011.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	212.3	points or ▲	1.29%	on	Thursday, February 25, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,697.29	▲	212.30	▲	1.29%		
	Nasdaq____	4,582.21	▲	39.60	▲	0.87%		
	S&P_500___	1,951.70	▲	21.90	▲	1.13%		
	30_Yr_Bond____	2.57	▼	-0.02	▼	-0.89%		

NYSE Volume	 4,070,931,000 	 	 	 	 	  		 
Nasdaq Volume	 1,777,862,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,012.81	▲	145.63	▲	2.48%		
	DAX_____	9,331.48	▲	163.68	▲	1.79%		
	CAC_40__	4,248.45	▲	93.11	▲	2.24%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,944.70	▲	1.40	▲	0.03%		
	Shanghai_Comp	2,741.25	▼	-187.65	▼	-6.41%		
	Taiwan_Weight	8,365.86	▲	83.00	▲	1.00%		
	Nikkei_225___	16,140.34	▲	224.55	▲	1.41%		
	Hang_Seng.__	18,888.75	▼	-303.70	▼	-1.58%		
	Strait_Times.__	2,603.40	▼	-16.56	▼	-0.63%		
	NZX_50_Index_	6,225.28	▼	-5.09	▼	-0.08%		

http://finance.yahoo.com/news/us-stocks-little-changed-early-trading-151855418.html

*US stocks post solid gain on rising oil prices

Late day rally pushes stocks solidly higher Thursday, helped by a recovery in the price of oil and bank stocks, which have been hit hard this year*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- A late-day surge pushed U.S. stocks sharply higher Thursday, propelled by a recovery in energy companies and bank stocks, which have been hit hard this year.

Investors were also encouraged by positive economic data, including improved orders for long-lasting goods that served as a sign that businesses were buying equipment and investing in their operations.

The Dow Jones industrial average rose 212.30 points, or 1.3 percent, to close at 16,697.29. The Standard & Poor's 500 index rose 21.90 points, or 1.1 percent, to close at 1,951.70 and the Nasdaq composite rose 39.60 points, or 0.9 percent, to close at 4,582.20.

Stocks had been flat to slightly higher most of the day but added to their gains in the last hour of trading. The market ”” as it has done for weeks now ”” largely tracked the price of oil. U.S. crude oil closed up 92 cents, or nearly 3 percent, to $33.07 a barrel while Brent crude, the global benchmark, rose 88 cents, or 2.6 percent, to $35.29 a barrel.

"Oil and the stock market are going to keep moving in tandem like this until oil prices stabilize," said Jeremy Zirin, chief equity strategist at UBS Wealth Management.

Bank stocks got a reprieve Thursday after several weeks of downward pressure. The financials sector was the biggest gainer in the S&P 500. Morgan Stanley rose 4 percent, Goldman Sachs rose 2 percent, while the big retail banks Bank of America, U.S. Bancorp and Citigroup were up more than 1 percent each.

Bank stocks have been hit hard this year on expectations that the Federal Reserve will now be reluctant to raise interest rates, which boost bank profits, and that low oil prices will continue to cause banks to write off energy loans.

"The fears about the banks are entirely about profitability. Investors were expecting the Fed to raise rates three to four times this year, now we are looking at maybe one interest rate hike," Zirin said.

Orders to U.S. companies for long-lasting manufactured goods rose in January at the strongest pace in 10 months, the government said Thursday. A key category that tracks business investment surged by the largest amount in 19 months. The bigger-than-expected gains could be a sign of better days ahead for the nation's beleaguered manufacturers.

The biggest gainer in the S&P 500 Thursday was Salesforce.com, which jumped $6.90, or 11 percent, to $69.42 after the company issued an upbeat outlook for the year. Investors had been worried about the results of Salesforce after a competitor, Tableau, issued a dismal outlook earlier this month that caused its shares to drop nearly 50 percent, dragging down its competitors.

Both U.S. and European markets fared well despite a sharp drop in Chinese stocks overnight. The Shanghai composite fell 6.4 percent on renewed concerns about the country's manufacturing sector and market liquidity.

Bond prices rose, with the yield on the 10-year U.S. Treasury note falling to 1.71 percent from 1.75 percent on Wednesday.

In other energy trading, heating oil rose 1 cent, or 1 percent, to $1.07 a gallon, wholesale gasoline rose 4.6 cents, or 4.5 percent, to $1.056 a gallon and natural gas fell 6.7 cents, or 4 percent, to $1.711 per 1,000 cubic feet.

In metals, gold fell 30 cents to $1,238.80 an ounce and silver fell 13 cents to $15.20 an ounce. High-quality copper fell 2.8 cents to $2.073 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

My apologies for being late posting; I was away driving my new race red RHD Mustang V8 Coupe 						

 *The NYSE DOW closed  	LOWER ▼	-57.32	points or ▼	-0.34%	on	Saturday, February 27, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,639.97	▼	-57.32	▼	-0.34%		
	Nasdaq____	4,590.47	▲	8.27	▲	0.18%		
	S&P_500___	1,948.05	▼	-3.65	▼	-0.19%		
	30_Yr_Bond____	2.64	▲	0.06	▲	2.41%		

NYSE Volume	 4,330,037,000 	 	 	 	 	  		 
Nasdaq Volume	 1,826,217,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,096.01	▲	83.20	▲	1.38%		
	DAX_____	9,513.30	▲	181.82	▲	1.95%		
	CAC_40__	4,314.57	▲	66.12	▲	1.56%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,945.10	▲	0.40	▲	0.01%		
	Shanghai_Comp	2,767.21	▲	25.96	▲	0.95%		
	Taiwan_Weight	8,411.16	▲	45.30	▲	0.54%		
	Nikkei_225___	16,188.41	▲	48.07	▲	0.30%		
	Hang_Seng.__	19,364.15	▲	475.40	▲	2.52%		
	Strait_Times.__	2,649.38	▲	45.98	▲	1.77%		
	NZX_50_Index_	6,224.98	▼	-0.30	▲	0.00%		

http://finance.yahoo.com/news/us-gl...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Stocks end strong week on flat note

US stocks failed to follow global shares higher on Friday, but still held onto strong gains for the week*
Associated Press By Ken Sweet, AP Business Writer
February 26, 2016 6:01 PM

NEW YORK (AP) -- Stocks ended a strong week on a flat note as lower oil prices and utility stocks offset encouraging economic news.

Still, the market ended Friday with a second straight weekly gain.

The Dow Jones industrial average closed down 57.32 points, or 0.3 percent, to 16,639.97. The Standard & Poor's 500 index lost 3.65 points, or 0.2 percent, to 1,948.05 and the Nasdaq composite added 8.27 points, or 0.2 percent, to 4,590.47.

All three indexes finished the week up by 1.5 percent or more. Oil, despite Friday's decline, was up 3.6 percent for the week.

On Friday the market was buoyed early by a strong rally in overseas stocks triggered by word from China that it would not devalue its currency to make its imports more competitive.

Also, the Commerce Department said U.S. gross domestic product, the broadest measure of economic health, grew at an annual rate of 1 percent in the fourth quarter, an improvement from the first estimate of 0.7 percent. Economists were expecting a reading of 0.4 percent growth.

"We are finally seeing some stabilization in the economic data — durable goods numbers, retail sales, and this second reading on GDP — that will hopefully end this debate on whether the U.S. economy is heading toward recession," said Quincy Krosby, a market strategist with Prudential Financial.

Voya Market Strategists Douglas Cote and Karyn Cavanaugh, in a note to investors, said the GDP data could increase the likelihood of an interest rate increase at the Federal Reserve's meeting in March.

But the stronger economic news kicked interest rates up sharply. That in turn hit relatively safe investments like government bonds and stocks that are attractive for their dividends, like utilities and consumer staples, hard.

Coca-Cola was the biggest decliner in the Dow, slipping 2.3 percent, followed by Wal-Mart and IBM. All three stocks have a dividend yield of 3 percent or more.

The Dow Jones utility index, a basket of 15 utility companies, fell nearly 3 percent, and the sector was the biggest loser in the S&P 500. Utility stocks tend to do better at times of low interest rates or economic uncertainty because their business is relatively stable and they pay a high dividend.

Government bond prices fell, pushing the yield on the 10-year Treasury note up to 1.76 percent from 1.72 percent the day before. Gold prices also fell, closing down $18.40 to $1,220.40 an ounce.

Oil was unable to hold gains it had early in the day, and closed down 29 cents, or 1 percent, to $32.78 a barrel. Brent crude, the global benchmark, fell 19 cents to close at $35.10. In other energy commodities, heating oil fell 1.9 cents to $1.051 a gallon. Wholesale gasoline futures fell 3.9 cents to $1.017 a gallon and natural gas rose 0.6 cents to $1.791 per 1,000 cubic feet.

In other metals, silver fell 49 cents to $14.71 an ounce and high-grade copper rose 5 cents to $2.125 a pound.

0926


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-123.47	points or ▼	-0.74%	on	Monday, February 29, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,516.50	▼	-123.47	▼	-0.74%		
	Nasdaq____	4,557.95	▼	-32.52	▼	-0.71%		
	S&P_500___	1,932.23	▼	-15.82	▼	-0.81%		
	30_Yr_Bond____	2.62	▼	-0.02	▼	-0.80%		

NYSE Volume	 4,426,106,500 	 	 	 	 	  		 
Nasdaq Volume	 2,186,858,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,097.09	▲	84.28	▲	1.40%		
	DAX_____	9,495.40	▼	-17.90	▼	-0.19%		
	CAC_40__	4,353.55	▲	38.98	▲	0.90%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,947.90	▲	2.80	▲	0.06%		
	Shanghai_Comp	2,687.98	▼	-79.23	▼	-2.86%		
	Taiwan_Weight	8,411.16	▲	45.30	▲	0.54%		
	Nikkei_225___	16,026.76	▼	-161.65	▼	-1.00%		
	Hang_Seng.__	19,111.93	▼	-252.22	▼	-1.30%		
	Strait_Times.__	2,666.51	▲	17.13	▲	0.65%		
	NZX_50_Index_	6,230.87	▲	5.89	▲	0.09%		

http://finance.yahoo.com/news/us-markets-start-week-neutral-154932851.html
*
Late selling leaves stocks down for third straight month

Late-day selling pushed US stocks to a loss for the day and erased nearly all of the market's gains for the month*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- Late-day selling sent U.S. stocks to a loss Monday and erased nearly all of the market's gains for the month. Weak earnings for drug companies pushed health care stocks lower, and energy shares fell as natural gas plunged.

Investors lost enthusiasm for stocks after two straight weekly gains. Health care stocks fell furthest as drugmakers Endo International, Mylan and Mallinckrodt all slumped. Oil prices rose, but natural gas hit a 17-year low. Banks lost ground, partly because investors are worried about potential losses on loans to energy companies.

The Dow Jones industrial average fell 123.47 points, or 0.7 percent, to 16,516.50. The Standard & Poor's 500 index fell 15.82 points, or 0.8 percent, to 1,932.23. The Nasdaq composite index fell 32.52 points, or 0.7 percent, to 4,557.95.

Monday's loss pushed the S&P 500 and the Nasdaq to a loss for February, their third monthly loss in a row. The Dow eked out a gain of 0.3 percent for its first positive month since November.

John Manley, chief equity strategist for Wells Fargo Fund Management, said investors are nervous. "A lot of investors have fantastic profits from three or four years (of gains) and they also have terrible memories from seven or eight years ago," he said. "Why not sell first and ask questions later?"

The drug and medical device company Endo lost $11.13, or 21 percent, to $41.81 after the company said it will wind down its Astora women's health business and set aside $834 million to cover costs from possible product liability lawsuits over vaginal mesh implants, which have been linked to thousands of injuries.

Valeant Pharmaceuticals slid after the company withdrew its financial forecasts. The stock gave up $14.85, or 18.4 percent, to $65.80. Mallinckrodt declined $4.21, or 6.1 percent, to $65.03.

With stocks on shaky ground, precious metals prices improved. The price of gold has climbed nearly 11 percent this month. Gold is seen as a safe investment when the market gets rough, and Steven Dunn, the head of ETF Securities' U.S. division, said investors are now more worried about the global markets than they have been in several years.

"When there is turmoil in the world, people do come back to gold as sort of that safe port," he said.

The price of gold rose 1 percent Monday to $1,234.40 an ounce. Over the last two weeks gold has traded near it highest price in a year.

Benchmark U.S. crude oil rose 97 cents, or 3 percent, to $33.75 a barrel on the New York Mercantile Exchange. Brent crude, the global benchmark, gained 87 cents, or 2.5 percent, to $35.97 a barrel in London.

Natural gas prices skidded 4 percent to $1.71 per 1,000 cubic feet, its lowest level since March of 1999. In a research note, Commodity Weather Group said it expects a "super warm pattern" to start in about a week. That will lead to less demand for heat as the winter comes to a close.

In other energy trading, wholesale gasoline rose 3 cents to $1.05 a gallon and heating oil rose 2 cents to $1.08 a gallon.

Global stocks were mixed.

Policymakers at a weekend meeting of the Group of 20 rich and developing countries promised to use "all tools" at their disposal to bolster weak global growth, but they didn't announce any specific moves. Some relief emerged with the news that China's monetary authorities had cut the amount of deposits that banks have to keep in reserve at the central bank. That should free up cash for banks to lend. The government also guided the yuan lower.

Germany's DAX slipped 0.2 percent, while the FTSE 100 index of British shares remained unchanged. The CAC-40 in France rose 0.9 percent. The yen's strength weighed on Japan's benchmark Nikkei 225, which fell 1 percent. The Shanghai Composite Index tumbled 2.9 percent after the yuan's decline.

Stock markets in Europe were helped somewhat by news that inflation across the eurozone turned negative in February as consumer prices fell. The euro fell because traders expect further monetary stimulus from the European Central Bank at its meeting on March 10.

In other metals trading, silver prices edged up 21 cents to $14.90 an ounce. Copper rose 1 cent to $2.13 a pound.

Bond prices rose and the yield on the 10-year Treasury note slipped to 1.75 percent from 1.76 percent. The euro fell to $1.0875 from $1.0928 and the dollar fell to 112.95 yen from 113.90 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	348.58	points or ▲	2.11%	on	Tuesday, March 1, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,865.08	▲	348.58	▲	2.11%		
	Nasdaq____	4,689.60	▲	131.65	▲	2.89%		
	S&P_500___	1,978.35	▲	46.12	▲	2.39%		
	30_Yr_Bond____	2.70	▲	0.09	▲	3.37%		

NYSE Volume	 4,774,834,000 	 	 	 	 	  		 
Nasdaq Volume	 2,216,613,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,152.88	▲	55.79	▲	0.92%		
	DAX_____	9,717.16	▲	221.76	▲	2.34%		
	CAC_40__	4,406.84	▲	53.29	▲	1.22%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	4,989.60	▲	41.70	▲	0.84%		
	Shanghai_Comp	2,733.17	▲	45.19	▲	1.68%		
	Taiwan_Weight	8,485.69	▲	74.53	▲	0.89%		
	Nikkei_225___	16,085.51	▲	58.75	▲	0.37%		
	Hang_Seng.__	19,407.46	▲	295.53	▲	1.55%		
	Strait_Times.__	2,682.39	▲	15.88	▲	0.60%		
	NZX_50_Index_	6,280.90	▲	50.03	▲	0.80%		

http://finance.yahoo.com/news/banks-bounce-back-leading-us-stocks-higher-early-153348888.html

*Stocks snap higher following encouraging signs on US economy

Stocks post their biggest gains in more than a month following more encouraging signs of growth in the US economy*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) — Stocks roared to their best day in more than a month Tuesday as investors hit the "buy" button following some encouraging signs of strength in the U.S. economy. Construction spending reached its highest level in eight years in January. Banks, the worst-performing sector of the market so far this year, led the way higher.

Stocks jumped at 10 a.m., when the Commerce Department reported that construction spending continued to rise in January. At the same time, a survey showed some signs of life in the beaten-down manufacturing sector. Those were good signs for the U.S. economy.

Banks rose the most, but big names in consumer and tech stocks also climbed, as did oil prices.

The Dow Jones industrial average jumped 348.58 points, or 2.1 percent, to 16,865.08. The Standard & Poor's 500 index surged 46.12 points, or 2.4 percent, to 1,978.35. That was the biggest gain for the S&P 500, a widely used benchmark, since late January.

The Nasdaq composite index, which is heavily weighted with technology companies, made its biggest gain since August, adding 131.65 points, or 2.9 percent, to 4,689.60.

Stocks have stumbled this year as investors feared for the health of the U.S. economy at the same time that China, Europe, and Japan are slowing or struggling. Tuesday's report showed construction spending rose by the most in eight months. A manufacturing index had its best reading in six months, though activity is still declining.

Bank of America picked up 67 cents, or 5.4 percent, to $13.19 and JPMorgan Chase gained $2.90, or 5.2 percent, to $59.20, leading financial stocks higher. The S&P 500's financial component has slumped about 9 percent this year, worse than any other industry, as investors worry about loans banks have made to energy companies and low interest rates.

In recent months the strong dollar has hurt tech stocks, which do a lot of business outside the U.S., because it makes their products more expensive overseas and cuts into their revenue. Those stocks climbed Tuesday, with the biggest gains going to familiar names. Apple gained $3.84, or 4 percent, to $100.53. It had been more than a month since Apple stock closed above $100. Alphabet, the parent of Google, rose $24.95, or 3.5 percent, to $742.17. Microsoft picked up $1.70, or 3.3 percent, to $52.58 and Facebook stock added $2.90, or 2.7 percent, to $109.82.

Karyn Cavanaugh, senior markets strategist for Voya Investment Management, said investors abandoned tech and bank stocks as the market slumped in January and February.

"They've just been beaten with a stick this year," she said. "Earnings have not been that bad and the companies' financials are not that bad."

Cavanaugh said investors are pleased with the construction and manufacturing reports, and relieved that the dollar and oil prices seem to have stabilized.

Agribusiness giant Monsanto gained $2.50, or 2.8 percent, to $92.49 and chemical maker DuPont rose $2.07, or 3.4 percent, to $62.94. Among consumer stocks, Amazon rose $26.52, or 4.8 percent, to $579.04 and Netflix gained $4.89, or 5.2 percent, to $98.30.

Most automakers reported big gains in their February U.S. sales. Ford climbed 58 cents, or 4.6 percent, to $13.09 after its sales rose almost 20 percent, a better gain than analysts expected. Honda, Fiat Chrysler and Nissan also reported big improvements. GM's sales fell as it tries to shift its business away from rental sales, but its stock gained 57 cents, or 1.9 percent, to $30.01.

Auto parts supplier BorgWarner rose $1.48, or 4.6 percent, to $34.16, and navigation device maker Garmin added 93 cents, or 2.3 percent, to $41.44.

Hertz climbed after the company said it cut costs and improved the management of its rental fleet. The stock, which has been trading at its lowest since 2009, jumped $1.04, or 12.2 percent, to $9.54.

Clothing, handbag and accessories maker Kate Spade gained $2.17, or 10.9 percent, to $21.99 after it gave a strong profit forecast for 2016. Human resources software company Workday reported a smaller loss and better-than-expected sales. The stock rose $11.29, or 18.7 percent, to $71.74.

Medical device maker Medtronic gave up $3.21, or 4.1 percent, to $74.18 after its sales fell short of analysts' projections.

Industrial conglomerate Honeywell said it's giving up on its effort to buy rival United Technologies. It had offered to buy United Technologies for $108 per share, or about $90 billion, and Honeywell said its target wasn't willing to negotiate a deal. United Technologies, which was one of the best Dow performers in February, slumped $1.57, or 1.6 percent, to $95.05. Honeywell rebounded $4.52, or 4.5 percent, to $105.87.

Oil prices also moved higher. U.S. crude rose 65 cents, or 1.9 percent, to $34.40 a barrel in New York. Brent crude, the benchmark for international oils, rose 24 cents to $36.81 a barrel in London. Natural gas, which closed at a 17-year low on Monday, climbed 3 cents to $1.74 per 1,000 cubic feet.

Overseas markets rose after China's move to support bank lending helped offset concern over a drop in manufacturing in the world's second-largest economy. Germany's DAX climbed 2.3 percent and France's CAC-40 added 1.2 percent. Britain's FTSE 100 rose 0.9 percent. Hong Kong's Hang Seng gained 1.5 percent. Tokyo's Nikkei 225 added 0.4 percent.

The euro fell to $1.0868 from $1.0884 late Monday and the dollar rose to 114.05 yen from 112.82 yen.

The price of gold slipped $3.60 to $1,230.80 an ounce and silver decreased 16 cents to $14.76 an ounce. Copper gained 1 cent to $2.15 a pound.

In other energy trading, wholesale gasoline fell 2 cents to $1.31 a gallon. Heating oil rose less than 1 cent to $1.10 a gallon.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	34.24	points or ▲	0.20%	on	Wednesday, March 2, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,899.32	▲	34.24	▲	0.20%		
	Nasdaq____	4,703.42	▲	13.83	▲	0.29%		
	S&P_500___	1,986.45	▲	8.10	▲	0.41%		
	30_Yr_Bond____	2.69	▼	-0.01	▼	-0.41%		

NYSE Volume	 4,620,223,500 	 	 	 	 	  		 
Nasdaq Volume	 2,149,773,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,147.06	▼	-5.82	▼	-0.09%		
	DAX_____	9,776.62	▲	59.46	▲	0.61%		
	CAC_40__	4,424.89	▲	18.05	▲	0.41%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,083.50	▲	93.90	▲	1.88%		
	Shanghai_Comp	2,849.68	▲	116.51	▲	4.26%		
	Taiwan_Weight	8,544.05	▲	58.36	▲	0.69%		
	Nikkei_225___	16,746.55	▲	661.04	▲	4.11%		
	Hang_Seng.__	20,003.49	▲	596.03	▲	3.07%		
	Strait_Times.__	2,726.96	▲	44.57	▲	1.66%		
	NZX_50_Index_	6,313.07	▲	32.17	▲	0.51%		

http://finance.yahoo.com/news/stocks-edge-lower-early-trading-154047659.html

NEW YORK (AP) ”” U.S. stocks are closing modestly higher, led by gains in energy companies as investors hope that the worst may soon be over for the battered sector.

Exxon Mobil led the Dow Jones industrial average higher with a gain of 2 percent. Other energy companies also rose.

Investors were encouraged by another gain in the price of oil, its seventh rise in the last eight days.

Agribusiness giant Monsanto dropped 8 percent after cutting its outlook, and spirits maker Brown-Forman, whose brands include Jack Daniels, fell 2 percent after lowering its guidance.

The Dow Jones industrial average edged up 34 points, or 0.2 percent, to 16,899.

The Standard & Poor's 500 index added eight points, or 0.4 percent, to 1,986. The Nasdaq composite climbed 13 points, or 0.3 percent, to 4,703


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	34.24	points or ▲	0.20%	on	Wednesday, March 2, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,899.32	▲	34.24	▲	0.20%		
	Nasdaq____	4,703.42	▲	13.83	▲	0.29%		
	S&P_500___	1,986.45	▲	8.10	▲	0.41%		
	30_Yr_Bond____	2.69	▼	-0.01	▼	-0.41%		

NYSE Volume	 4,620,223,500 	 	 	 	 	  		 
Nasdaq Volume	 2,149,773,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,147.06	▼	-5.82	▼	-0.09%		
	DAX_____	9,776.62	▲	59.46	▲	0.61%		
	CAC_40__	4,424.89	▲	18.05	▲	0.41%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,083.50	▲	93.90	▲	1.88%		
	Shanghai_Comp	2,849.68	▲	116.51	▲	4.26%		
	Taiwan_Weight	8,544.05	▲	58.36	▲	0.69%		
	Nikkei_225___	16,746.55	▲	661.04	▲	4.11%		
	Hang_Seng.__	20,003.49	▲	596.03	▲	3.07%		
	Strait_Times.__	2,726.96	▲	44.57	▲	1.66%		
	NZX_50_Index_	6,313.07	▲	32.17	▲	0.51%		

http://abcnews.go.com/Business/wireStory/stocks-edge-lower-early-trading-day-big-gain-37338650

*Stocks Made Small Gains as Energy Companies Surge*

    By marley jay, ap markets writer
NEW YORK ”” Mar 2, 2016, 5:06 PM ET

 Stocks eked out tiny gains Wednesday as oil prices continued to recover and investors hoped the worst is over for the beleaguered energy industry. Telecommunications companies, which have climbed as the rest of the market has struggled this year, also rose.

Indexes wavered between tiny gains and losses for most of the day, then climbed steadily in the last 90 minutes of trading. Oil prices increased for the seventh time in eight days, an encouraging sign after many months of sharp declines. After Tuesday's big gains, the market is the highest it's been since the first week of the year.

The Dow Jones industrial average rose 34.24 points, or 0.2 percent, to 16,899.32. The Standard & Poor's 500 index gained 8.10 points, or 0.4 percent, to 1,986.45. The Nasdaq composite index added 13.83 points, or 0.3 percent, to 4,703.42.

The price of oil has been plunging for almost two years, from over $100 a barrel in mid-2014 to $26 a barrel last month. That decimated profits at energy companies and hurt banks that lent money to them. Oil has staged a modest recovery over the last couple of weeks.

Benchmark U.S. crude rose 26 cents to close at $34.66 a barrel in New York, its highest closing price since Jan. 5. Brent crude gained 12 cents to $36.93 a barrel in London.

Energy stocks did the best in the market. Murphy Oil climbed $2.08, or 12.1 percent, to $19.30, and Marathon Oil picked up $1.14, or 14.3 percent, to $9.10. Telecom stocks also rose, with Verizon Communications up 66 cents to $52.12. Verizon and AT&T are trading at their highest prices in more than a year.

Agribusiness giant Monsanto took its biggest one-day loss in five years after it slashed its annual profit forecast. The company cited the strong dollar, competition from lower-cost generic products, and reduced spending from farmers because of lower crop prices. The stock tumbled $7.19, or 7.8 percent, to $85.30.

The news pressured other materials companies including fertilizer maker CF Industries, which fell $1.51, or 4.2 percent, to $34.74.

Spirits maker Brown-Forman, whose brands include Jack Daniels and Korbel, also lowered its profit estimates because of the strong dollar. The company makes 60 percent of its sales overseas. It's also being affected by cutbacks in spending by travelers and weak economies in some emerging markets. Its stock fell $1.47 to $96.19.

A strong dollar hurts U.S. companies in a couple of ways when they do business overseas: it makes their products more expensive compared to locally-produced goods, and it reduces their revenue when it's translated back into dollars.

Katie Nixon, chief investment officer of wealth management for Northern Trust, said that matters because economic growth is so slow right now. Still, she said it's not a big problem for the U.S. economy as a whole, which relies more on services than sales of goods.

"The strong dollar is much more of an issue for the S&P 500 than it is for the U.S. economy," she said.

ADP, a payroll processing company, delivered another positive sign for the economy when it said private U.S. businesses added a healthy 214,000 jobs last month. That followed upbeat reports on construction and manufacturing on Tuesday. The federal government will release its jobs report on Friday.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.84 percent from 1.82 percent a day earlier. Bond yields also climbed on Tuesday.

"The Treasury yield is increasing because the economy is better than people had feared and investors feel that the Fed is going to hike rates," Nixon said.

Bond yields are still relatively low. That has helped telecommunications and utility stocks, which are seen as similar to bonds: they are less-volatile stocks that tend to pay high dividends. Investors have favored them in recent months as the rest of the market turned turbulent. They are the two best performing sectors in the market so far this year.

Sporting goods retailer Big 5 Sporting Goods fell $1.38, or 10.4 percent, to $11.91 as it offered a weak profit forecast, and competing retailer Sports Authority said it will file for Chapter 11 bankruptcy protection and close almost a third of its stores.

Digital health and wellness company Everyday Health leapt 89 cents, or 19.1 percent, to $5.55 following a strong quarterly report. Teen retailer Abercrombie & Fitch rose $1.27, or 4.4 percent, to $30.41 after it said its Hollister business did particularly well in the latest quarter.

Germany's DAX rose 0.6 percent and France's CAC rose 0.4 percent. The FTSE 100 index of leading British shares dipped 0.1 percent after asset manager BlackRock warned that if the U.K. votes to leave European Union, the economy will be "economically worse off."

A weak yen added to investor optimism, sending Japan's benchmark Nikkei 225 up 4.1 percent. Hong Kong's Hang Seng added 3.1 percent.

The price of gold rose $11 to $1,241.80 an ounce. Silver rose 27 cents to $15.02 an ounce. Copper rose 4 cents to $2.18 a pound.

In other energy trading, the price of natural gas fell 6 cents to close at $1.68 per 1,000 cubic feet. Natural gas is at its lowest price in 17 years. Wholesale gasoline rose 1 cent to $1.31 a gallon. Heating oil rose 1 cent to $1.11 a gallon.

The euro was unchanged at $1.0868 and the dollar fell to 113.45 yen after climbing to 114.05 yen Tuesday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	44.58	points or ▲	0.26%	on	Thursday, March 3, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,943.90	▲	44.58	▲	0.26%		
	Nasdaq____	4,707.42	▲	4.00	▲	0.09%		
	S&P_500___	1,993.40	▲	6.95	▲	0.35%		
	30_Yr_Bond____	2.66	▼	-0.03	▼	-1.19%		

NYSE Volume	 5,032,662,500 	 	 	 	 	  		 
Nasdaq Volume	 2,437,464,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,130.46	▼	-16.60	▼	-0.27%		
	DAX_____	9,751.92	▼	-24.70	▼	-0.25%		
	CAC_40__	4,416.08	▼	-8.81	▼	-0.20%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,142.20	▲	58.70	▲	1.15%		
	Shanghai_Comp	2,859.76	▲	10.08	▲	0.35%		
	Taiwan_Weight	8,611.79	▲	67.74	▲	0.79%		
	Nikkei_225___	16,960.16	▲	213.61	▲	1.28%		
	Hang_Seng.__	19,941.76	▼	-61.73	▼	-0.31%		
	Strait_Times.__	2,787.62	▲	60.66	▲	2.22%		
	NZX_50_Index_	6,380.86	▲	67.79	▲	1.07%		

http://finance.yahoo.com/news/us-stocks-edge-higher-led-211146869.html

*US stocks climb again as energy companies keep rising*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” Stocks made modest gains on Thursday as the market once again turned higher late in the day. Energy stocks led the way as investors continued to hope that oil prices have stabilized after almost two years of steep declines.

For the second day in a row, stocks opened with small losses and gradually rose during the afternoon. Energy companies surged and are now slightly higher for the year. Industrial companies like Caterpillar and Deere also rose. Drugmakers led a decline in health care stocks.

The Dow Jones industrial average gained 44.58 points, or 0.3 percent, to 16,943.90. The Standard & Poor's 500 index edged up 6.95 points, or 0.4 percent, to 1,993.40. Tech stocks lagged, and the Nasdaq composite index added 4 points, or 0.1 percent, to 4,707.42.

Stocks have eked out small gains over the last two days, aided by steady oil prices and reports showing the U.S. economy is on solid footing. After a big jump on Tuesday, and the market is on target for its third consecutive weekly gain.

The price of U.S. crude wavered between small gains and losses, finally closing down 9 cents at $34.57 a barrel in New York. Brent crude, the benchmark for international oils, added 14 cents to $37.07 a barrel in London. The price of U.S. oil has risen more than 30 percent in three weeks, and Brent crude has erased its losses for the year.

ConocoPhillips rose $2.07, or 5.7 percent, to $38.56 and Southwestern Energy jumped $1.13, or 18.2 percent, to $7.34.

Chesapeake Energy continued to skyrocket after the company said it does not expect to be prosecuted or fined as part of a federal investigation into founder and former company head Aubrey McClendon, who left the company in 2013.

Early Wednesday, McClendon was indicted by a federal grand jury on charges of rigging gas-lease bids. Later in the day officials announced that McClendon had died in a single-car crash in Oklahoma City.

The stock jumped 23 percent Wednesday and added another 87 cents, or 25.6 percent, to $4.27. The stock tumbled 74 percent in 2015.

J.J. Kinahan, chief market strategist for TD Ameritrade, said that after Tuesday's surge, investors are being patient and looking for good news about the state of the economy. That could come Friday morning, when the government reports its latest employment figures.

Kinahan said investors will be looking for signs of growth in better-paying jobs, possibly in the manufacturing or health care industries, as opposed to restaurants and hotels.

"We know we're not going to be a manufacturing economy again," he said, but investors hope to see some growth in manufacturing jobs instead of losses.

The Commerce Department said orders to U.S. factories grew 1.6 percent in January, the biggest gain in seven months. A category that measures business investment rose by the largest amount in 19 months.

Mining equipment maker Joy Global climbed $2.77, or 20.8 percent, to $16.09 after its first-quarter sales were stronger than expected. 3D printer maker Stratasys rose $3.64, or 17.4 percent, to $24.53. The company's fourth-quarter results were better than expected and it gave a strong forecast for 2016.

Supermarket operator Kroger dropped $2.85, or 7 percent, to $37.80 after investors were disappointed with its quarterly sales and its forecasts.

Losses for biotech drug companies pulled health care stocks lower. Cancer drugmaker Celgene lost $2 to $102.73, and hepatitis C drugmaker Gilead Sciences fell 97 cents to $87.83. Alexion Pharmaceuticals sank $5.74, or 3.8 percent, to $145.85.

The prices of gold, silver, and copper each rose about 1 percent. Gold rose $16.40 to $1,258.20 an ounce and silver closed up 12 cents at $15.15 an ounce. Copper advanced 3 cents to $2.21 a pound. The price of gold has climbed almost 19 percent this year, and silver has risen about 10 percent.

Britain's FTSE 100 and Germany's DAX each fell 0.3 percent. France's CAC 40 declined 0.2 percent. Asian markets closed mostly higher. Japan's Nikkei 225 rose 1.3 percent and South Korea's Kospi gained 0.6 percent. Hong Kong's Hang Seng index fell 0.3 percent.

Chinese leaders were expected to lower their growth target during the upcoming gathering of the National People's Congress this week as China seeks more flexibility for structural reforms for the slowing, state-dominated economy. The growth target due to be announced on Saturday is expected to be a range of 6.5 to 7 percent, down from 2015's goal of about 7 percent.

In other energy trading, wholesale gasoline lost 1 cent to $1.30 a gallon. Heating oil rose 1 cent to $1.12 a gallon. Natural gas, which is trading at 17-year lows, fell 4 cents to $1.64 a gallon.

Bond prices edged higher. The yield on the 10-year Treasury note dipped to 1.83 percent from 1.84 percent late Wednesday. The euro rose to $1.0950 from $1.0868 and the dollar edged up to 113.52 yen from 113.45 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	62.87	points or ▲	0.37%	on	Friday, March 4, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,006.77	▲	62.87	▲	0.37%		
	Nasdaq____	4,717.02	▲	9.60	▲	0.20%		
	S&P_500___	1,999.99	▲	6.59	▲	0.33%		
	30_Yr_Bond____	2.70	▲	0.04	▲	1.62%		

NYSE Volume	 6,030,584,500 	 	 	 	 	  		 
Nasdaq Volume	 2,285,879,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,199.43	▲	68.97	▲	1.13%		
	DAX_____	9,824.17	▲	72.25	▲	0.74%		
	CAC_40__	4,456.62	▲	40.54	▲	0.92%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,151.10	▲	8.90	▲	0.17%		
	Shanghai_Comp	2,874.15	▲	14.39	▲	0.50%		
	Taiwan_Weight	8,643.55	▲	31.76	▲	0.37%		
	Nikkei_225___	17,014.78	▲	54.62	▲	0.32%		
	Hang_Seng.__	20,176.70	▲	234.94	▲	1.18%		
	Strait_Times.__	2,837.00	▲	49.38	▲	1.77%		
	NZX_50_Index_	6,418.13	▲	37.27	▲	0.58%		

http://finance.yahoo.com/news/us-stocks-dip-following-jobs-151738845.html#

*A modest gain for stocks keeps a 4-day winning streak alive*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- Stocks wobbled to the finish Friday but salvaged a four-day winning streak after the U.S. government said employers added more jobs than expected in February. That was another vote of confidence in the economy. Mining companies made the biggest gains as metals prices climbed.

The jobs report showed that construction, retail and health care companies are still hiring more workers. Energy companies also rose with the recovering price of oil. Stocks fell back from an afternoon peak as investors sold telecommunications companies, which have been the best-performing sector of the market this year.

The Dow Jones industrial average rose 62.87 points, or 0.4 percent, to 17,006.77. The Standard & Poor's 500 index gained 6.59 points, or 0.3 percent, to 1,999.99. The Nasdaq composite index edged up 9.60 points, or 0.2 percent, to 4,717.02.

The Labor Department said employers added 242,000 jobs last month. Consumer demand was solid, and the government also said employers hired more people in December and January than it had previously estimated. More people also looked for work.

This week stocks rose after reports on hiring, construction spending and manufacturing suggested that the U.S. economy is doing fairly well. Kate Warne, investment strategist for Edward Jones, said she expects continued job and economic growth for the U.S.

"The worries that we've been hearing recently about the economy sliding into recession aren't warranted," she said. Combined with low inflation rates, she said that's good news for investors.

Metals and energy prices kept climbing on the continued signs of life for the economy. Gold, which is trading at its highest price in a year, rose $12.50, or 1 percent, to $1,270.70 an ounce. Silver jumped 55 cents, or 3.6 percent, to $15.69 an ounce and copper rose 7 cents, or 3 percent, to $2.27 a pound.

The price of U.S. oil jumped $1.35, or 3.9 percent, to $35.92 a barrel. Brent crude, the benchmark for international oils, rose $1.65, or 4.5 percent, to $38.72 a barrel in London.

Oil prices climbed about 10 percent this week and have risen for three weeks in a row, which hadn't happened since May. Brent crude is now higher than it was at the beginning of the year, although U.S. crude is still lower.

Those gains helped copper mining company Freeport-McMoRan gained 63 cents, or 6.9 percent, to $9.74. Aluminum producer Alcoa edged up 10 cents to $9.57.

Energy stocks also kept rising. Drilling rig operators did the best as investors were pleased they keep closing rigs to cut costs. Transocean climbed $1.88, or 17.4 percent, to $12.71. Ensco rose $1.43, or 13.1 percent, to $12.36.

The market has now erased most of its losses after a painful start to the year. But there are signs investors are still worried: investors keep buying utility and telecom stocks, which are considered safe bets when the market is troubled, and the price of gold has surged to its highest levels in more than a year. And while stocks have risen the last three days, the gains were small and came in choppy trading.

Warne said investors still feel uneasy about problems ranging from shaky economies outside the U.S., low oil prices, and uncertainty over when the Federal Reserve will raise interest rates and what effect that will have on the economy.

"I think we're going to continue to see a lot of market volatility," she said.

AMC Theaters, owned by Wanda Group of China, is buying Carmike Cinemas for $1.1 billion. The deal will create the biggest movie theater chain in the world. Earlier this year, Wanda said it would buy Legendary Entertainment, a studio that co-financed movies including "Jurassic World" and "The Dark Knight." Carmike climbed $4.14, or 16.4 percent, to $29.25.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.87 percent from 1.84 percent late Thursday.

Michael Fredericks, portfolio manager for BlackRock Multi-Asset Income Fund, noted that bond yields have recovered along with stocks over the last few weeks.

"There was just a huge amount of pessimism" about economic growth, he said. He added that bond yields had fallen because investors were worried about the health of Europe's banks and the possibility the Fed would experiment with negative interest rates in the U.S.

A handful of companies rose and fell as quarterly earnings kept trickling out. Hewlett Packard Enterprise, an information technology products and service company, reported better-than-expected results from its first quarter as a publicly-traded company. Its stock surged $1.84, or 13.5 percent, to $15.44.

Handgun maker Smith & Wesson rose $1.65, or 6.5 percent, to $27.05 after its profit and sales surpassed Wall Street estimates. Smith & Wesson also raised its profit and sales projections for its current fiscal year.

Tax preparer H&R Block tumbled after its quarterly profit and revenue disappointed investors. The company said people are filing their taxes later and refunds are taking longer to process as efforts to fight tax fraud increase. The stock dropped $5.14, or 15.6 percent, to $27.76.

Britain's FTSE 100 gained 1.1 percent and France's CAC 40 rose 0.9 percent. Germany's DAX was up 0.7 percent. Japan's Nikkei 225 index closed 0.3 percent higher and Hong Kong's Hang Seng added 1.2 percent. South Korea's Kospi edged 0.1 percent lower.

In other energy trading, wholesale gasoline rose 3 cents to $1.33 a gallon. Heating oil climbed 4 cents to $1.16 a gallon. Natural gas picked up 3 cents to $1.67 per 1,000 cubic feet.

The euro rose to $1.0996 from $1.0959 the day before while the dollar rose to 114.21 yen from 113.57 yen.

1596


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	67.18	points or ▲	0.40%	on	Monday, March 7, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,073.95	▲	67.18	▲	0.40%		
	Nasdaq____	4,708.25	▼	-8.77	▼	-0.19%		
	S&P_500___	2,001.76	▲	1.77	▲	0.09%		
	30_Yr_Bond____	2.70	▲	0.00	▼	-0.04%		

NYSE Volume	 4,938,883,500 	 	 	 	 	  		 
Nasdaq Volume	 2,171,043,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,182.40	▼	-17.03	▼	-0.27%		
	DAX_____	9,778.93	▼	-45.24	▼	-0.46%		
	CAC_40__	4,442.29	▼	-14.33	▼	-0.32%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,204.70	▲	53.60	▲	1.04%		
	Shanghai_Comp	2,897.34	▲	23.19	▲	0.81%		
	Taiwan_Weight	8,659.55	▲	16.00	▲	0.19%		
	Nikkei_225___	16,911.32	▼	-103.46	▼	-0.61%		
	Hang_Seng.__	20,159.72	▼	-16.98	▼	-0.08%		
	Strait_Times.__	2,823.51	▼	-13.49	▼	-0.48%		
	NZX_50_Index_	6,418.93	▲	0.80	▲	0.01%		

http://finance.yahoo.com/news/us-st...ly-trading-banks-tech-152745607--finance.html

*Stock market posts meager gains, led by energy companies*
Associated Press By BERNARD CONDON

NEW YORK (AP) ”” Stocks wavered throughout the day but managed to eke out modest gains Monday as oil prices rose.

Investors bought drillers, refiners and other energy companies as the three-week rise in crude continued. Six of 10 industry sectors in the Standard & Poor's 500 rose, helping the index extend its winning streak to fifth day.

The ride up was bumpy, though, and the gains were slight. The S&P 500 gained just 0.09 percent. That was its smallest increase in seven weeks.

"Today's volatility is mostly about a little profit-taking and taking a pause after such a strong advance in recent days," said Jim Paulsen, chief investment strategist at Wells Capital.

The Dow Jones industrial average increased 67.18 points, or 0.4 percent, to 17,073.95. The S&P 500 edged up 1.77 points to 2,001.76. The Nasdaq composite, which is heavily weighted with technology stocks, gave up 8.77 points, or 0.2 percent, to 4,708.25.

Shares of consumer products and technology companies fell. Chipmaker Micron Technology fell 30 cents, or 2.5 percent, to $11.58.

With no big U.S. economic or earnings announcements, news from abroad appeared to drive much of the trading.

The price of iron ore jumped 17 percent on news over the weekend that China plans to run up its deficit to stimulate its economy. China is the world's largest buyer of this raw material for steel, and mining companies soared on the news. Cliffs Natural Resources rose 54 cents to $3.43, a gain of 19 percent.

China also lowered its official growth target this year to 6.5 to 7 percent. The slowdown has been rattling markets, although fears that the trouble could spill over into the U.S. economy have eased in recent weeks as encouraging U.S. data suggest growth is solid. On Friday, the government reported that employers added 242,000 jobs to their payrolls last month, more than had been expected.

"The market is correctly pricing in a lower chance of global recession or U.S. recession," said Brian Nick, head of tactical asset allocation at UBS Wealth Management Americas.

Investors are anxious over a policy meeting of the European Central Bank on Thursday as inflation across the 19-country eurozone has fallen back below zero. They expect further stimulus from the central bank, possibly including a cut in deposit rates further into negative territory. The Bank for International Settlements, which helps coordinate monetary policy around the world, warned on Monday of a "gathering storm" as central banks run out of room to stimulate their economies.

European markets were mostly lower, with France's CAC-40 and Britain's FTSE 100 each losing 0.3 percent. Germany's DAX dropped 0.5 percent.

Benchmark U.S. crude added $1.98, or 5.5 percent, to close at $37.90 a barrel on the New York Mercantile Exchange.

The 10 biggest gainers in the S&P 500 were drillers and other energy-related companies. Murphy Oil rose $2.99, or nearly 13 percent, to $26.69.

In Asia, Tokyo's Nikkei retreated 0.6 percent and Hong Kong's Hang Seng shed 0.1 percent. Seoul's Kospi advanced 0.1 percent.

In other oil trading, Brent crude, which is used to price international oils, rose $2.12, or 5.5 percent, to $40.84 a barrel in London

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 1.90 percent from 1.87 percent on Friday. The euro rose to $1.1013 from $1.0999 and the dollar fell to 113.27 yen from 114.02 yen.

Precious and industrial metals futures ended mixed. Gold fell $6.70 to $1,264 an ounce, silver slipped six cents to $15.63 an ounce and copper rose a penny to $2.28 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-109.85	points or ▼	-0.64%	on	Tuesday, March 8, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,964.10	▼	-109.85	▼	-0.64%		
	Nasdaq____	4,648.82	▼	-59.43	▼	-1.26%		
	S&P_500___	1,979.26	▼	-22.50	▼	-1.12%		
	30_Yr_Bond____	2.64	▼	-0.07	▼	-2.44%		

NYSE Volume	 4,589,467,000 	 	 	 	 	  		 
Nasdaq Volume	 2,067,794,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,125.44	▼	-56.96	▼	-0.92%		
	DAX_____	9,692.82	▼	-86.11	▼	-0.88%		
	CAC_40__	4,404.02	▼	-38.27	▼	-0.86%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,169.50	▼	-35.20	▼	-0.68%		
	Shanghai_Comp	2,901.39	▲	4.05	▲	0.14%		
	Taiwan_Weight	8,664.31	▲	4.76	▲	0.05%		
	Nikkei_225___	16,783.15	▼	-128.17	▼	-0.76%		
	Hang_Seng.__	20,011.58	▼	-148.14	▼	-0.73%		
	Strait_Times.__	2,778.77	▼	-44.74	▼	-1.58%		
	NZX_50_Index_	6,446.72	▲	27.79	▲	0.43%		

http://finance.yahoo.com/news/us-stocks-pull-back-early-152117657.html#

*Stocks pull back, breaking a winning streak for the S&P 500*
Associated Press By BERNARD CONDON

NEW YORK (AP) ”” Stocks fell broadly on Tuesday as investors around the world fled risky bets on worrisome trade data out of China and a slump in the price of crude oil.

Investors dumped stocks from the start of trading, then picked up their selling near the close. Seven of the 10 industry sectors of the Standard and Poor's 500 dropped, putting an end to a five-day winning streak for that index. Treasury bonds rose sharply as investors sought safety.

Oil prices have been rising from 13-year lows in the recent weeks, but reversed course Tuesday with a nearly 4 percent drop in U.S. crude. Energy stocks were hammered. Murphy Oil plunged 15 percent and oil rig operator Transocean lost 10 percent.

A report overnight from China showing that exports and imports had dropped last month helped revive fears that a slowdown in China could hurt the slowly strengthening U.S. economy.

"Where is the global growth going to come from?" asked Mizuho Securities Chief Economist Steven Ricchiuto. "There is no acceleration in growth."

The Dow Jones industrial average fell 109.85 points, or 0.6 percent, to 16,964.10. The S&P 500 fell 22.50 points, or 1.1 percent, to 1,979.26. The Nasdaq composite gave up 59.43 points, or 1.3 percent, to 4,648.82.

After dropping sharply earlier this year, U.S. stocks have been generally climbing as data on hiring, construction spending and manufacturing suggested the U.S. might be able to buck a slowdown abroad. The S&P 500 is up 10 percent from mid-February.

But Chief Investment Officer Bill Stone of PNC Asset Management Group said investors have been worried that the climb was not sustainable given trouble overseas, and the drop in oil and Chinese trade data pushed many of them to sell.

"We're overbought," Stone said. "People are taking some profits off of the larger run-up from the low."

China's report showed exports plunged 25 percent in February from a year earlier, as weak global demand and a business shutdown during the Lunar New Year holiday combined to depress sales. Customs data also showed imports fell 14 percent.

In overseas trading, nearly every major market fell. Japan's Nikkei 225 dropped 0.8 percent and South Korea's Kospi lost 0.6 percent. In Europe, France's CAC 40, Germany's DAX and Britain's FTSE 100 each fell 0.9 percent.

Investors are looking ahead to a policy announcement from the European Central Bank on Thursday. Further stimulus moves are expected, but its unprecedented program of buying bonds and driving interest rates into negative territory has had mixed results so far.

Among U.S. stocks making big moves on Tuesday, hamburger chain Shake Shack plunged $5, or 12 percent, to $37.23 after delivering quarterly results and an outlook that disappointed investors.

Urban Outfitters jumped $4.53, or 16 percent, to $32.69. Late Monday, the retailer reported strong earnings during the holiday season.

The euro fell to $1.1002 from $1.1014. The dollar edged down to 112.61 yen from 113.27 yen.

Yields on U.S. government bonds, which move in the opposite direction of prices, fell sharply. The yield on the 10-year Treasury note fell to 1.82 percent from 1.91 percent late Monday.

Benchmark U.S. crude fell $1.40 to $36.50 a barrel on the New York Mercantile Exchange. It had jumped $1.98 on Monday. Brent crude, which is used to price international oils, fell $1.19, or 3 percent, to $39.65 a barrel.

In other energy markets, wholesale gasoline fell less a penny to $1.388 a gallon, heating oil dropped 2.3 cents to $1.20 a gallon and natural gas rose 2.2 cents to $1.712 per 1,000 cubic feet.

Industrial and precious metals ended broadly lower. Gold slipped $1.10 to $1,262.90 an ounce, silver fell 24 cents to $15.39 an ounce and copper lost six cents to $2.22 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	36.26	points or ▲	0.21%	on	Wednesday, March 9, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,000.36	▲	36.26	▲	0.21%		
	Nasdaq____	4,674.38	▲	25.55	▲	0.55%		
	S&P_500___	1,989.26	▲	10.00	▲	0.51%		
	30_Yr_Bond____	2.68	▲	0.05	▲	1.78%		

NYSE Volume	 4,018,884,500 	 	 	 	 	  		 
Nasdaq Volume	 1,783,610,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,146.32	▲	20.88	▲	0.34%		
	DAX_____	9,723.09	▲	30.27	▲	0.31%		
	CAC_40__	4,425.65	▲	21.63	▲	0.49%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,215.70	▲	46.20	▲	0.89%		
	Shanghai_Comp	2,862.56	▼	-38.83	▼	-1.34%		
	Taiwan_Weight	8,634.11	▼	-30.20	▼	-0.35%		
	Nikkei_225___	16,642.20	▼	-140.95	▼	-0.84%		
	Hang_Seng.__	19,996.26	▼	-15.32	▼	-0.08%		
	Strait_Times.__	2,810.43	▲	31.66	▲	1.14%		
	NZX_50_Index_	6,457.26	▲	10.54	▲	0.16%		

http://abcnews.go.com/Business/wireStory/us-stocks-rising-earnings-impress-investors-37518020

US Stocks Post Slight Gains, Led by Oil and Gas Companies
    By bernard condon, ap business writer

 Stocks rose on the seventh anniversary of the bull market on Wednesday as crude oil resumed its climb from a 13-year low.

The gains were modest as investors await key policy decisions from Europe's central bank on Thursday and from the U.S. Federal Reserve next week. Energy companies rebounded from big drops the day before, gaining 1.5 percent.

The stock market has been climbing for three weeks as reports on hiring, retail spending and manufacturing suggest the U.S. economy is strengthening and that fears that a slowdown in China would tip the U.S. into recession are overblown. The Standard and Poor's 500 index is up 9 percent from its mid-February low.

"People are becoming more optimistic and markets are recovering," said Seth Masters, chief investment officer at AB Bernstein. The hope is that "monetary authorities are committed to doing what it takes and not derail it."

The Dow Jones industrial average climbed 36.26 points, or 0.2 percent, to 17,000.36. The Nasdaq composite increased 25.55 points, or 0.6 percent, to 4,674.38. The S&P 500 climbed 10 points, or 0.5 percent, to 1,989.26.

The gains were broad, with nine of 10 industry sectors of the S&P 500 rising. The jump in crude sent several energy companies soaring. Chesapeake Energy climbed 8 percent, Devon Energy rose 7 percent and Newfield Exploration rose 6 percent.

The S&P 500 has tripled since bottoming out at 676.53 exactly seven years ago during the financial crisis. Stocks have been pushed up by higher corporate earnings, though not in the past year, and by the Federal Reserve's unprecedented efforts to encourage investors to take more risk by lowering interest rates on bonds and other safer assets.

The current bull market is the third-longest of the 11 since World War II, according to research firm S&P Capital IQ.

Chief Investment Officer Krishna Memani of Oppenheimer Funds said he's optimistic the bull market will extend its run because modest economic growth means little inflation, and no need for the Federal Reserve to move too quickly to reverse its stimulus policies.

"We believe this will be one of the longest economic expansions, and thus one the longest bull markets, we have experienced," he said. "Easy money still rules."

The Federal Reserve meets next week, but most investors do not think it will raise short-term interest rates it controls from near zero. It raised them for the first time in nine years in December.

At the end of its policy meeting on Thursday, the European Central Bank is widely expected to announce more efforts to stimulate the 19-country eurozone. Possible moves include another cut in the deposit rate for funds from commercial banks to even further below zero. The hope is that will get banks to stop holding onto their money and lend more.

The ECB also could increase its bond-buying program to pump more money into the region's economy.

Among U.S. stocks making big moves Wednesday, Air Transport Services jumped $1.96, or 17 percent, to $13.73 after turning in solid results and saying it will operate an air transport network for Amazon. Pet-food company Blue Buffalo Pet Products rose $4.19, or 23 percent, $22.75 after posting strong earnings.

Chipotle Mexican Grill fell $18.06, or 3 percent, to $506.63. The restaurant chain closed a Massachusetts store after a local health board said an employee there tested positive for norovirus. The agency also found two other suspected cases. The closure follows a series of food scares that sickened customers at its restaurants around the country. The stock is down 23 percent in the past 12 months.

In Europe, Germany's DAX and Britain's FTSE 100 were each up 0.3 percent. The CAC-40 in France rose 0.5 percent. The three indexes each fell nearly 1 percent the day before.

Japan's benchmark Nikkei 225 index lost 0.8 percent while South Korea's Kospi rose 0.3 percent. Hong Kong's Hang Seng dipped 0.1 percent.

Prices for industrial and precious metals ended mostly lower. Gold slipped $5.50 to $1,257.40 an ounce, silver fell two cents to $15.37 an ounce and copper gained one cent to $2.23 a pound.

In energy trading, a barrel of benchmark U.S. crude rose $1.79, or 5 percent, to $38.29. Brent crude, which is used to price international oils, gained $1.42, or 3.6 percent, to $41.07 a barrel. Wholesale gasoline rose 8.3 cents to $1.471 a gallon, heating oil rose 3.3 cents to $1.233 a gallon and natural gas rose four cents to $1.752 per 1,000 cubic feet.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 1.88 percent from 1.83 percent.

The euro was flat at $1.1002. The dollar edged up to 113.36 yen from 112.61 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-5.23	points or ▼	-0.03%	on	Thursday, March 10, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	16,995.13	▼	-5.23	▼	-0.03%		
	Nasdaq____	4,662.16	▼	-12.22	▼	-0.26%		
	S&P_500___	1,989.57	▲	0.31	▲	0.02%		
	30_Yr_Bond____	2.70	▲	0.02	▲	0.60%		

NYSE Volume	 4,370,369,000 	 	 	 	 	  		 
Nasdaq Volume	 1,929,358,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,036.70	▼	-109.62	▼	-1.78%		
	DAX_____	9,498.15	▼	-224.94	▼	-2.31%		
	CAC_40__	4,350.35	▼	-75.30	▼	-1.70%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,210.90	▼	-4.80	▼	-0.09%		
	Shanghai_Comp	2,804.73	▼	-57.83	▼	-2.02%		
	Taiwan_Weight	8,660.70	▲	26.59	▲	0.31%		
	Nikkei_225___	16,852.35	▲	210.15	▲	1.26%		
	Hang_Seng.__	19,984.42	▼	-11.84	▼	-0.06%		
	Strait_Times.__	2,809.12	▼	-1.31	▼	-0.05%		
	NZX_50_Index_	6,508.28	▲	51.02	▲	0.79%		

http://finance.yahoo.com/news/us-stocks-edge-higher-early-152241460.html

*US stocks slip; an early gain in European markets fades*
Associated Press By BERNARD CONDON

NEW YORK (AP) ”” Stocks swung between gains and losses on Thursday, then ended right back where they started.

With seconds to close, the Standard and Poor's 500 eked out a gain, finishing just 0.02 percent higher.

Stocks rose at the open of trading, echoing a surge in markets in Europe, where the central bank announced a series of moves to jolt the region's economy to faster growth. Then, as central bank chief Mario Draghi spoke at a news conference, investors started having second thoughts and stocks there sank, as did U.S. markets.

The S&P 500 edged up 0.31 points to end at 1,989.57.The Dow Jones industrial average gave up 5.23 points, less than 0.1 percent, to 16,995.13. It was up as much as 130 points earlier. The Nasdaq composite gave up 12.22 points, or 0.3 percent, to 4,662.16.

The new European Central Bank moves included a cut in interest rates, cheap loans to banks and several new measures, such as targeting corporate bonds in its bond-buying program.

The interest rate paid to commercial banks to store money at the central bank was cut further into negative territory, to minus 0.4 percent from minus 0.3 percent. The aim is to get banks to remove the money and use it to make loans, but it's an unprecedented and controversial policy.

"The central bank came out all guns blazing," said Craig Erlam, senior market analyst at currency trader OANDA.

The bank's efforts also underlined the weakness of the 19-country eurozone and the desperation by monetary authorities to do something about it. The policy announcements ended up rattling investors more than reassuring them.

"The effectiveness of central bank policy has become less and less," said Ernie Cecilia, chief investment officer of Bryn Mawr Trust. "There really isn't a lot of growth to show. Europe is really struggling."

In the U.S., several companies lost ground after releasing disappointing earnings and outlooks. Canadian Solar sank 13 percent and Vail Resorts lost 4 percent.

With nearly all companies out with fourth-quarter results, earnings per share for the S&P 500 are now estimated to have fallen 4.2 percent from the same period a year earlier, according to S&P Capital IQ.

In energy trading, U.S. crude oil shed 1.2 percent after jumping 4.9 percent on Wednesday.

Tim Courtney, chief investment officer of Exencial Wealth Advisors, thinks the drop played a role in dampening the stock market's gains for the day.

"When oil falls, it conjures up images of deflation, inventories piling up and China slowing," he said. For investors to buy more stocks, "they want to see oil markets stabilize."

Among stocks making big moves, Dollar General rose $8.02, or 11 percent, to $83.23 after the company reported that its fourth quarter profit rose almost 6 percent, topping Wall Street expectations.

U.S. crude shed 45 cents to $37.84 a barrel on the New York Mercantile Exchange. Brent crude, which is used to price international oils, lost $1.02, or 2.5 percent, to $40.05 a barrel.

In other energy trading, wholesale gasoline fell 3.15 cents, or 2 percent, to $1.439 a gallon, heating oil rose 1.66 cents to $1.216 a gallon and natural gas gained 3.6 cents to $1.788 per 1,000 cubic feet.

In Europe, Germany's DAX lost 2.3 percent, France's CAC 40 fell 1.7 percent and Britain's FTSE 100 gave up 1.8 percent.

U.S government bond prices fell, pushing yields higher. The yield on the 10-year Treasury note rose to 1.93 percent from 1.88 percent the day before. In currency trading, the euro rose to $1.1207 from $1.0996 late Wednesday and the dollar fell to 112.97 yen from 113.40 yen.

Industrial and precious metals mostly rose. Gold increased $15.40 to $1,272.80 an ounce. Silver climbed 18.3 cents to $15.55 an ounce and copper slipped 1.25 cents to $2.22 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	218.18	points or ▲	1.28%	on	Friday, March 11, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,213.31	▲	218.18	▲	1.28%		
	Nasdaq____	4,748.47	▲	86.31	▲	1.85%		
	S&P_500___	2,022.19	▲	32.62	▲	1.64%		
	30_Yr_Bond____	2.75	▲	0.05	▲	1.82%		

NYSE Volume	 4,042,787,750 	 	 	 	 	  		 
Nasdaq Volume	 1,759,640,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,139.79	▲	103.09	▲	1.71%		
	DAX_____	9,831.13	▲	332.98	▲	3.51%		
	CAC_40__	4,492.79	▲	142.44	▲	3.27%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,224.80	▲	13.90	▲	0.27%		
	Shanghai_Comp	2,810.31	▲	5.58	▲	0.20%		
	Taiwan_Weight	8,706.14	▲	45.44	▲	0.52%		
	Nikkei_225___	16,938.87	▲	86.52	▲	0.51%		
	Hang_Seng.__	20,199.60	▲	215.18	▲	1.08%		
	Strait_Times.__	2,828.86	▲	19.74	▲	0.70%		
	NZX_50_Index_	6,515.41	▲	7.13	▲	0.11%		

http://finance.yahoo.com/news/us-stocks-open-sharply-higher-151607988.html#

*Stock market extends rally to a 4th week as energy recovers*
Associated Press By Bernard Condon, AP Business Writer

NEW YORK (AP) -- A jump in crude oil and a rise in European markets set off a rally in U.S. stocks to cap a four-week winning streak for major indexes.

Investors bought across industries from the start of trading on Friday. Drillers, refiners and other energy companies rose sharply as the price for U.S. crude hit a high for the year. Devon Energy jumped 11 percent and Southwestern Energy gained 10 percent.

Just a month ago, investors were dumping shares amid talk of a possible U.S. recession. The Standard & Poor's 500 index fell to almost a two-year low. But confidence has returned as data has suggested the U.S. economy is strengthening.

"While things aren't great, they're not the disaster we thought," said Bill Strazzullo, chief market strategist at Bell Curve Trading. "We've rallied after a horrendous start to the year."

The S&P 500 is up now nearly 11 percent from Feb. 11.

On Friday, the S&P 500 gained 32.62 points, or 1.6 percent, to 2,022.19. The Dow Jones industrial average rose 218.18 points, or 1.3 percent, to 17,213.31. The Nasdaq composite climbed 86.31 points, or 1.9 percent, to 4,748.47.

U.S. crude gained after the International Energy Agency said signs that the market has "bottomed out" have emerged. Energy companies have been shutting down rigs and laying off thousands of workers as oil prices plunged to around $30 per barrel, from well over $100 per barrel just two years ago.

U.S. crude has risen 47 percent from a 13-year low of $26.21 a month ago.

Bank stocks also rose sharply. That sector had been beaten down in recent weeks as investors worried about loans to highly leveraged energy companies going bad.

The rally has got some investors worried, though.

Chief Equity Strategist Phil Orlando of Federated Investors said the "terrific four-week run" makes him a "little nervous." Among his concerns are a steeper China slowdown, a U.S. dollar strengthening even more and hurting U.S. exports, no relief from the corporate profits drop over the last year and more surprises in the presidential election.

"Don't discount the fiscal policy uncertainty of the election," he warned.

Xavier Smith, manager of the Centre Global Select Equity Fund, said he doesn't buy the oil rally, either.

"Oil is a proxy for the overall economy, and it's not going on four cylinders anywhere," Smith said. "So why would oil be strong? It doesn't make any sense."

European markets rose sharply as investors hoped that the European Central Bank's latest blast of stimulus policies would help revive the region's economy. Germany's DAX gained 3.5 percent, France's CAC 40 advanced 3.3 percent and Britain's FTSE 100 rose 1.7 percent.

The ECB moves included three interest rate cuts, loans to banks, and the expansion of a bond-buying stimulus program. Shares in banks, which will be supported by the ECB loans, were among the biggest gainers.

Investors turn their attention to a meeting of the U.S. Federal Reserve next week. Unlike its counterparts in Europe and Japan, the Fed is looking to wind down its economic stimulus, though most investors do not expect it to tighten credit next week. The Fed raised rates for the first time in nine years in December.

Among stocks making big moves, driller Anadarko Petroleum rose $3.79, or 9 percent, to $46.29 after saying it would cut 1,000 workers, or 17 percent of its work force.

Power company Pepco Holdings fell $2.18, or 9 percent, to $22.07 after officials for the District of Columbia where it operates rejected a proposal to salvage its troubled $6.8 billion merger with Exelon Corp. District regulators rejected the merger twice before.

U.S. crude added 66 cents, or 1.7 percent, to $38.50 per barrel on the New York Mercantile Exchange Brent crude, which is used to price international oils, gained 34 cents, or 0.8 percent, to $40.39 a barrel. Wholesale gasoline fell 0.5 cents to $1.444 a gallon, heating oil rose 0.2 cents to $1.218 a gallon and natural gas gained 3.4 cents to $1.822 per 1,000 cubic feet.

The dollar strengthened to 113.70 yen from 113.11 yen while the euro fell to $1.1157 from $1.1196.

U.S. government bonds fell, pushing their yields higher. The yield on the 10-year Treasury note rose to 1.98 percent from 1.93 percent late Thursday

Industrial and precious metals were mixed. Gold fell $13.40 to $1,259.40 an ounce. Silver climbed 5.6 cents to $15.61 an ounce and copper rose 2.1 cents to $2.24 a pound.

2398


----------



## bigdog

Source: http://finance.yahoo.com 

*USA moved forward one hour to daylight saving time during the weekend
-- I can now post earlier!*

 *The NYSE DOW closed  	HIGHER ▲	15.82	points or ▲	0.09%	on	Monday, March 14, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,229.13	▲	15.82	▲	0.09%		
	Nasdaq____	4,750.28	▲	1.81	▲	0.04%		
	S&P_500___	2,019.64	▼	-2.55	▼	-0.13%		
	30_Yr_Bond____	2.73	▼	-0.02	▼	-0.62%		

NYSE Volume	 3,466,567,250 	 	 	 	 	  		 
Nasdaq Volume	 1,632,899,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,174.57	▲	34.78	▲	0.57%		
	DAX_____	9,990.26	▲	159.13	▲	1.62%		
	CAC_40__	4,506.59	▲	13.80	▲	0.31%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,242.40	▲	17.60	▲	0.34%		
	Shanghai_Comp	2,859.50	▲	49.19	▲	1.75%		
	Taiwan_Weight	8,747.90	▲	41.76	▲	0.48%		
	Nikkei_225___	17,233.75	▲	294.88	▲	1.74%		
	Hang_Seng.__	20,435.34	▲	235.74	▲	1.17%		
	Strait_Times.__	2,847.06	▲	18.20	▲	0.64%		
	NZX_50_Index_	6,566.83	▲	51.42	▲	0.79%		

http://finance.yahoo.com/news/us-stocks-lower-despite-global-141009062.html

*US stocks end nearly unchanged ahead of Fed meeting

US stocks ended nearly unchanged ahead of this week's Federal Reserve meeting*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- U.S. stocks barely budged Monday, finishing mixed as lower oil prices pulled energy companies down while hotels and travel-related companies rose.

Trading was quiet Monday ahead of the Federal Reserve's meeting later this week, which is expected to shed some light on the possibility of a future increase in benchmark interest rates.

"Lately (the market) seems to quiet down ahead of the Fed," said BlackRock portfolio manager Peter Stournaras.

U.S. stocks missed out on a global rally that lifted stocks in Europe and Asia. The Standard & Poor's 500 fell for just the second time this month.

The Dow Jones industrial average rose 15.82 points, or 0.1 percent, to 17,229.13. The S&P 500 lost 2.55 points, or 0.1 percent, to 2,019.64. The Nasdaq composite index gained 1.81 points to 4,750.28.

Starwood Hotels jumped after a consortium led by China's Anbang Insurance Group offered to buy the hotel chain for $14 billion. Last year Marriott International agreed to buy Starwood for $12.2 billion. Starwood said it will examine the new offer and its stock gained $5.51, or 7.8 percent, to $75.93.

Marriott stock rose $2.04, or 3 percent, to $70.93. It will get a $400 million payment if Starwood backs out of their agreement.

The news lifted other travel-related companies. TripAdvisor gained $2.84, or 4.5 percent, to $66.54 and Expedia rose $1.46, or 1.3 percent, to $116.39.

C. Patrick Scholes, analyst for SunTrust Robinson Humphrey, said investors in Expedia and TripAdvisor are hoping Starwood will be sold to Anbang instead of competitor Marriott. He said if Marriott and Starwood were to combine, they would have more power to negotiate lower commissions with the online travel agencies. "If there's no deal, that strength and bargaining power is taken away," he said.

Host Hotels also outperformed the market and picked up 24 cents, or 1.4 percent, to $16.87. Scholes said Anbang's offer suggests that foreign buyers are still interested in U.S. hotel companies.

Energy and materials stocks fell with the prices of oil, gas, and precious metals.

The price of oil tumbled after Iran's oil minister dismissed the idea of a freeze in production over the weekend. U.S. benchmark crude fell $1.32, or 3.4 percent, to close at $37.18 a barrel in New York. Brent crude, the global benchmark, lost 86 cents, or 2.1 percent, to $39.53 a barrel in London. Southwestern Energy lost 54 cents, or 6.7 percent, to $7.46 and Chesapeake Energy gave up 32 cents, or 6.8 percent, to $4.38.

The Federal Reserve will meet Tuesday and Wednesday. Investors don't expect the Fed to raise interest rates, but they will look closely at its comments on the state of the U.S. and global economies to get clues about possible moves in the future. In December the Fed raised interest rates for the first time in almost a decade, but it left them unchanged in January.

Stocks have rallied over the last four weeks, and BlackRock's Stournaras noted that some of the most beaten-down parts of the market, including energy and mining companies, have made major contributions to that rally as economic indicators, especially in the U.S. have begun to improve. That means those stocks could tumble again if investors don't like what the Fed has to say about the economy or global growth this week, he said.

Big gainers Monday included The Fresh Market, which jumped $5.41, or 23.5 percent, to $28.39 after private equity firm Apollo Global said it will buy the grocery store chain for $1.3 billion, or $28.50 per share.

Drug developer GW Pharmaceuticals more than doubled after it reported positive results from a late-stage study of its drug Epidiolex, an experimental seizure disorder treatment derived from a marijuana extract. The stock surged $46.25, or 120 percent, to $84.71. Zynerba Pharmaceuticals, which is studying drug based on synthetic compounds derived from cannabis, climbed $12.59, or 149 percent, to $21.03.

Stocks in Europe rose after the eurozone had its biggest monthly increase in industrial production since 2009. Germany's DAX rose 1.6 percent. France's CAC 40 added 0.3 percent while Britain's FTSE 100 gained 0.6 percent.

Chinese stocks rose after the chief of the China Securities Regulatory Commission told a press conference over the weekend that it's too early to talk about winding back official support measures for the markets, according to the official Xinhua news agency. That suggests the government will continue to support Chinese equities.

Japan reported a jump in private sector machinery orders, a sign that capital spending could improve this year. Japan's benchmark Nikkei 225 index rose 1.7 percent and South Korea's Kospi was little changed. Hong Kong's Hang Seng added 1.2 percent and the Shanghai Composite Index in mainland China gained 1.8 percent.

In other energy trading, wholesale gasoline fell 2 cents to $1.42 a gallon and heating oil lost 2 cents to $1.20 a gallon. Natural gas fell less than a penny to close at $1.82 per 1,000 cubic feet.

In metals trading, the price of gold fell $14.30, or 1.1 percent, to $1,245.10 an ounce. Silver fell 8.4 cents to $15.52 an ounce. Copper was little changed at $2.24 a pound.

Bond prices rose. The yield on the 10-year Treasury note slipped to 1.96 percent from 1.98 percent. The euro declined to $1.1097 from $1.1157 late Friday. The dollar edged up to 113.80 yen from 113.70 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	22.4	points or ▲	0.13%	on	Tuesday, March 15, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,251.53	▲	22.40	▲	0.13%		
	Nasdaq____	4,728.67	▼	-21.61	▼	-0.45%		
	S&P_500___	2,015.93	▼	-3.71	▼	-0.18%		
	30_Yr_Bond____	2.72	▼	-0.01	▼	-0.33%		

NYSE Volume	 3,554,984,750 	 	 	 	 	  		 
Nasdaq Volume	 1,702,366,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,139.97	▼	-34.60	▼	-0.56%		
	DAX_____	9,933.85	▼	-56.41	▼	-0.56%		
	CAC_40__	4,472.63	▼	-33.96	▼	-0.75%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,168.60	▼	-73.80	▼	-1.41%		
	Shanghai_Comp	2,864.37	▲	4.87	▲	0.17%		
	Taiwan_Weight	8,611.18	▼	-136.72	▼	-1.56%		
	Nikkei_225___	17,117.07	▼	-116.68	▼	-0.68%		
	Hang_Seng.__	20,288.77	▼	-146.57	▼	-0.72%		
	Strait_Times.__	2,839.44	▼	-7.62	▼	-0.27%		
	NZX_50_Index_	6,577.82	▲	10.99	▲	0.17%		

http://finance.yahoo.com/news/us-stocks-fall-early-energy-141847035.html#

*US stocks end mixed, lower, amid drug company rout

US stocks are slightly lower in afternoon trading as falling commodity prices again pulled energy and materials companies lower, and drugmakers are falling on concerns about prices*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) ”” Stocks ended mixed and mostly lower Tuesday, led by a steep decline in drug company shares as investors worried it will become harder for the companies to raise prices. Materials companies fell along with the price of precious metals.

U.S. stocks have hardly moved over the last two days, following a four-week rally that erased some big losses from earlier this year.

"People are kind of re-evaluating where we are," said James Paulsen, chief investment strategist for Wells Capital Management. "It's kind of amazing we haven't pulled back a little more."

The Dow Jones industrial average added 22.40 points, or 0.1 percent, to 17,251.53. The Standard & Poor's 500 index lost 3.71 points, or 0.2 percent, to 2,015.93. The Nasdaq composite index slipped 21.61 points, or 0.5 percent, to 4,728.67.

Trading has been mixed and fairly calm this week as investors wait for the Federal Reserve's Open Markets Committee remarks on interest rates and the economy on Wednesday. Investors are also awaiting Wednesdays' Consumer Price Index report, which Paulsen believes will reveal more than the Fed's statement.

"We ought to be paying attention to the Fed's boss, the economy," he said. "If the economic data gets better, the Fed will raise rates. If it doesn't get better, they won't."

Drug company stocks were not afforded any of the market's tranquility Tuesday. They were pummeled after Valeant Pharmaceuticals, which is already facing scrutiny over its business practices, said its strategy of boosting product prices is no longer viable. Every drug company in the S&P 500 fell, and big drug makers Pfizer and Merck led decliners on the Dow.

Valeant tumbled $35.53, or 51.5 percent, to $33.51 after it disclosed disappointing fourth-quarter results, cut its forecasts for 2016 and said it could default on its debt. Valeant is being investigated by the Securities and Exchange commission and Congress is questioning its practice of acquiring older drugs and raising their prices, a strategy shared by other drugmakers.

Endo International lost $9.51, or 22.6 percent, to $32.5 and Mallinckrodt fell $10.10, or 14.5 percent, to $59.51.

Drugmaker Eli Lilly fell on concerns surrounding the potential approval of a drug designed to treat dementia caused by Alzheimer's disease. The company said Tuesday it is changing the goal of a late-stage trial, and investors worried the change makes it less likely regulators will approve the drug. The stock gave up $2.67, or 3.6 percent, to $71.24.

Tech stocks made the biggest gains Tuesday, led by Apple, which rose $2.06, or 2 percent, to $104.58 after a Morgan Stanley analyst said first-quarter iPhone sales look stronger than Wall Street had expected.

Mining companies fell with metals prices. The price of gold fell $14.10, or 1.1 percent, to $1,231 an ounce. Silver sank 26 cents, or 1.7 percent, to $15.26 an ounce. Copper slipped less than 1 cent to $2.23 a pound.

Energy stocks declined as oil prices fell sharply for the second day in a row. Benchmark U.S. crude shed 84 cents, or 2.3 percent, to $36.34 a barrel in New York. Brent crude, the benchmark used to price international oils, lost 79 cents, or 2 percent, to $38.74 per barrel in London.

In other energy trading, wholesale gasoline slipped 1 cent to $1.41 a gallon. Heating oil fell 2 cents to $1.18 a gallon. Natural gas rose 3 cents, or 1.8 percent, to $1.85 per 1,000 cubic feet.

The Bank of Japan left its monetary policy unchanged Tuesday but downgraded its assessment of conditions in the world's third-largest economy, citing risks from weaker growth in China and other emerging economies and volatility in financial markets, among other factors. Tokyo's Nikkei 225 lost 0.7 percent and Hong Kong's Hang Seng declined 0.7 percent Seoul's Kospi was off 0.1 percent and the Shanghai Composite Index gained 0.2 percent.

France's CAC-40 lost 0.8 percent and Germany's DAX shed 0.6 percent. Britain's FTSE 100 declined 0.6 percent.

Bond prices held steady and the yield on the 10-year U.S. Treasury note remained at 1.96 percent. The euro edged up to $1.1107 from $1.1097 and the dollar slipped to 113.10 yen from 113.80 yen. The British pound fell to $1.4158 amid renewed jitters about the June popular vote on whether to remain in the 28-country European Union. The pound fell to a seven-year low last month.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	74.23	points or ▲	0.43%	on	Wednesday, March 16, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,325.76	▲	74.23	▲	0.43%		
	Nasdaq____	4,763.97	▲	35.30	▲	0.75%		
	S&P_500___	2,027.22	▲	11.29	▲	0.56%		
	30_Yr_Bond____	2.74	▲	0.01	▲	0.51%		

NYSE Volume	 4,031,337,750 	 	 	 	 	  		 
Nasdaq Volume	 1,786,389,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,175.49	▲	35.52	▲	0.58%		
	DAX_____	9,983.41	▲	49.56	▲	0.50%		
	CAC_40__	4,463.00	▼	-9.63	▼	-0.22%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,175.70	▲	7.10	▲	0.14%		
	Shanghai_Comp	2,870.43	▲	6.06	▲	0.21%		
	Taiwan_Weight	8,699.14	▲	87.96	▲	1.02%		
	Nikkei_225___	16,974.45	▼	-142.62	▼	-0.83%		
	Hang_Seng.__	20,257.70	▼	-31.07	▼	-0.15%		
	Strait_Times.__	2,844.21	▲	4.77	▲	0.17%		
	NZX_50_Index_	6,562.96	▼	-14.86	▼	-0.23%		

http://finance.yahoo.com/news/stocks-mostly-higher-economic-data-143321549.html

*Stocks end modestly higher after Fed holds rates steady*

*US stocks rose Wednesday after the Federal Reserve left interest rates unchanged and forecast it will raise rates more gradually than it had envisioned late last year*

Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- U.S. stocks rose Wednesday after the Federal Reserve left interest rates unchanged and forecast it will raise rates more gradually than it had envisioned late last year.

The market had been lower before the Fed released its statement, which highlighted strength in hiring and housing, but weakness in exports and concerns over slower global economic growth. The Fed now expects to raise interest rates two times this year instead of four.

Jeremy Zirin, chief equity strategist for UBS Wealth Management Americas, said the Fed and the markets now seem to have the same view on interest rate increases, and that means the market may be a little less volatile than it has been recently. "It probably eases investors' minds that we're unlikely to see a rate hike in April, and it probably takes June off the table," he said.

Lower rates help boost economic growth by reducing borrowing costs and reducing the risk associated with expanding businesses or starting new ones. Lower rates also make stocks look more attractive to investors.

Stocks are now on track for their fifth straight week of gains and the Dow Jones industrial average and Standard & Poor's 500 index closed at their highest levels since the first trading day of the year.

The Dow gained 74.23 points Wednesday, or 0.4 percent, to 17,325.76. The S&P 500 index rose 11.29 points, or 0.6 percent, to 2,027.22. The Nasdaq composite index rose 35.30 points, or 0.8 percent, to 4,763.97.

Oil prices rose nearly 6 percent and pushed energy shares sharply higher. Crude jumped after a group of major energy producing nations said they will hold more talks next month about a freeze in oil output levels. A deal — which is far from a sure thing — could help relieve a global glut that has depressed oil prices. In the U.S., oil inventories grew, but not as much as investors expected.

Benchmark U.S. crude rose $2.12 to $38.46 a barrel in New York. Brent crude, the benchmark for international oils, rose $1.59, or 4.1 percent, to $40.33 a barrel.

Energy companies were the top-performing sector on the market. Devon Energy gained $2.13, or 8.8 percent, to $26.22 Southwestern Energy rose 67 cents, or 9.3 percent, to $7.90 and Oneok added $1.79, or 6.5 percent, to $29.51.

After the Fed's decision, bond prices rose sharply and the yield on the 10-year Treasury note fell to 1.91 percent from 1.97 percent. The euro jumped to $1.1217 from $1.1107 late Tuesday. The dollar fell to 112.55 yen from 113.10 yen.

Mining and materials companies and technology stocks, which would all benefit from a weaker dollar, also traded higher. Newmont Mining rose $1.18, or 4.5 percent, to $27.55 and Alcoa added 58 cents, or 6.3 percent, to $9.74. Apple edged up $1.39, or 1.3 percent, to $105.97 and Microsoft gained 76 cents, or 1.4 percent, to $54.35.

Metals prices were little changed on the day, as they closed earlier in the afternoon. Gold lost $1.20 to $1,229.80 an ounce. Silver decreased 4 cents to $15.22 an ounce. Copper was unchanged at $2.23 a pound.

Peabody Energy, the largest coal mining company in the U.S., is plunging after it said it is delaying an interest payment and may have to file for Chapter 11 bankruptcy protection. The stock sank $1.82, or 45.4 percent, to $2.19.

Stocks have been rising in recent weeks on mounting evidence that the U.S. economy remains in good shape overall despite the shaky state of other major economies. That trend continued Wednesday as the Labor Department said core inflation, or inflation that leaves out energy and food prices, continued to rise. It's up 2.3 percent over the last year, its biggest 12-month gain since May of 2012. Overall inflation slipped in February because of lower gas prices and it's up just 1 percent in the last year.

The Fed has been looking closely at inflation as it considers raising interest rates. Though one of the Fed's main goals is to prevent runaway inflation, it wants to see inflation rise more than it has in recent years to be sure the economy is healthy enough to handle higher rates.

Separate reports showed construction of new homes continued to grow in February, but applications were weak again, a sign of future trouble. Meanwhile U.S. factories made more machinery, appliances and computer in February. It's the second straight monthly increase and a sign manufacturing is improving.

In other energy trading, wholesale gasoline rose 1 cent to $1.42 a gallon. Heating oil gained 5 cents, or 4.5 percent, to $1.23 a gallon. Natural gas rose 2 cents to $1.87 per 1,000 cubic feet.

Germany's DAX gained 0.5 percent and Britain's FTSE 100 added 0.6 percent. France's CAC 40 fell 0.2 percent. Asian stocks were also mixed, as Japan's benchmark Nikkei 225 slipped 0.8 percent and South Korea's Kospi added 0.3 percent. Hong Kong's Hang Seng lost 0.2 percent to while the Shanghai Composite index rose 0.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	155.73	points or ▲	0.90%	on	Thursday, March 17, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,481.49	▲	155.73	▲	0.90%		
	Nasdaq____	4,774.99	▲	11.02	▲	0.23%		
	S&P_500___	2,040.59	▲	13.37	▲	0.66%		
	30_Yr_Bond____	2.69	▼	-0.04	▼	-1.54%		

NYSE Volume	 4,526,903,500 	 	 	 	 	  		 
Nasdaq Volume	 1,911,557,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,201.12	▲	25.63	▲	0.42%		
	DAX_____	9,892.20	▼	-91.21	▼	-0.91%		
	CAC_40__	4,442.89	▼	-20.11	▼	-0.45%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,226.40	▲	50.70	▲	0.98%		
	Shanghai_Comp	2,904.83	▲	34.40	▲	1.20%		
	Taiwan_Weight	8,734.54	▲	35.40	▲	0.41%		
	Nikkei_225___	16,936.38	▼	-38.07	▼	-0.22%		
	Hang_Seng.__	20,503.81	▲	246.11	▲	1.21%		
	Strait_Times.__	2,880.17	▲	35.96	▲	1.26%		
	NZX_50_Index_	6,573.45	▲	10.49	▲	0.16%		

http://finance.yahoo.com/news/us-stocks-muddled-early-trading-141617695.html#

*Dow positive for 2016 after metals, oil boost stocks*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” Another surge in U.S. stocks Thursday, on the heels of a four-week rally, turned the Dow Jones industrial average positive for the year and wiped out its losses from a terrible start to 2016.

The price of gold and silver and oil jumped, boosting materials and energy companies. The dollar continued to weaken, boosting industrial companies on hopes they will be able to sell more products overseas.

The Dow Jones rose 155.73 points, or 0.9 percent, to 17,481.49. It's is now up 0.3 percent for the year, the first time it has been in the black for 2016. The Standard & Poor's 500 index gained 13.37 points, or 0.7 percent, to 2,040.59. The S&P 500 remains down 0.2 percent for the year. A little more than a month ago, the Dow and the S&P 500 were both down 10 percent for the year.

The Nasdaq composite rose 11.01 points, or 0.2 percent, to 4,774.99, but remains down close to 5 percent this year.

The price of oil also crossed a threshold, closing above $40 a barrel for the first time since early December. Benchmark U.S. crude rose $1.74, or 4.5 percent, to close at $40.20 a barrel. Brent crude, the benchmark for international oils, gained $1.21, or 3 percent, to $41.54 a barrel in London. Oil prices are now higher than they were at the end of 2015, but still far lower they have been for most of the last decade.

The dollar, after years of strength, has weakened in recent days, in part because of the Federal Reserve's decision to leave rates unchanged and to slow the pace of increases. Commodities are priced in dollars around the world, so a weaker dollar makes them more affordable in foreign markets and increases demand.

"When the dollar strengthens gold tends to sell off and vice versa," said James Butterfill, head of research and investment strategy at ETF Securities. Also, he said, investors aren't sure what monetary policy makers in Europe will do, and that kind of uncertainty usually sends metals prices higher.

The price of gold jumped $35.20, or 2.9 percent, to $1,265 an ounce and silver climbed 81 cents, or 5.3 percent, to $16.03 an ounce. Copper rose 6 cents, or 2.6 percent, to $2.29 a pound. Gold is at its highest price in about a year and silver and copper are around five month highs.

Mining companies and makers of chemicals, jets, farm equipment and heavy machinery all traded higher. General Electric picked up 79 cents, or 2.6 percent, to $30.96 and Boeing gained $3.13, or 2.5 percent, to $130.70. Agribusiness giant Monsanto rose $2.21, or 2.4 percent, to $92.92.

Package delivery company FedEx rose after it reported strong holiday-season sales, helped by continued growth in online shopping. FedEx also raised its projections for the year. The stock gained $17.07, or 11.8 percent, to $161.34. That was its biggest one-day gain since 1993.

Health care stocks continued to slump as a Senate committee sharply questioned executives from Turing Pharmaceuticals, which became notorious last year when it raised the price for a decades-old anti-infection drug by 5,000 percent. Investors are fearful that it will get harder for drug companies to raise their prices and boost their profits and revenues. Endo International lost $3.88, or 11.4 percent, to $30.03 and has dropped 29 percent this week. Eli Lilly gave up $3.42, or 4.7 percent, to $69.06. The Nasdaq biotech index, which includes makers of some of the mostly costly medications, has dropped almost 6 percent this week.

SeaWorld Entertainment said it will immediately stop breeding orcas after years of controversy over keeping the whales in captivity. The move will phase the animals out of its theme parks. The stock made its biggest gain since its IPO in 2013, rising $1.60, or 9.3 percent, to $18.72.

The Labor Department reported that applications for unemployment benefits rose slightly last week, but they remain at levels consistent with a healthy job market.

Bond prices have also risen, dampening their yields. The yield on the 10-year Treasury note slipped to 1.90 percent after it fell to 1.91 percent on Wednesday. The euro rose to $1.1316 from $1.1204. The dollar fell to 111.50 yen from 112.68 yen.

In other energy trading, wholesale gasoline picked up two cents to $1.44 a gallon and heating oil rose two cents to $1.25 a gallon. Natural gas gained seven cents, or 3.6 percent, to $1.94 per 1,000 cubic feet.

Overseas, Germany's DAX gave up 0.9 percent and the CAC-40 in France lost 0.5 percent. Britain's FTSE 100 inched up 0.4 percent. Japan's Nikkei 225 index closed 0.2 percent lower, as a weaker dollar would be bad news for Japanese exporters. Hong Kong's Hang Seng index climbed 1.2 percent. Shanghai's composite index gained 1.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	120.81	points or ▲	0.69%	on	Friday, March 18, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,602.30	▲	120.81	▲	0.69%		
	Nasdaq____	4,795.65	▲	20.66	▲	0.43%		
	S&P_500___	2,049.58	▲	8.99	▲	0.44%		
	30_Yr_Bond____	2.67	▼	-0.02	▼	-0.78%		

NYSE Volume	 6,492,781,000 	 	 	 	 	  		 
Nasdaq Volume	 2,827,190,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,189.64	▼	-11.48	▼	-0.19%		
	DAX_____	9,950.80	▲	58.60	▲	0.59%		
	CAC_40__	4,462.51	▲	19.62	▲	0.44%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,239.30	▲	12.90	▲	0.25%		
	Shanghai_Comp	2,955.15	▲	50.32	▲	1.73%		
	Taiwan_Weight	8,810.71	▲	76.17	▲	0.87%		
	Nikkei_225___	16,724.81	▼	-211.57	▼	-1.25%		
	Hang_Seng.__	20,671.63	▲	167.82	▲	0.82%		
	Strait_Times.__	2,906.80	▲	26.63	▲	0.92%		
	NZX_50_Index_	6,623.50	▲	50.05	▲	0.76%		

http://finance.yahoo.com/news/us-stocks-open-higher-head-141227418.html#

*Market finishes 5th week of gains, turning S&P 500 positive

US stocks are rising again, setting the market up to extend its winning streak to a fifth week*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- Another strong gain for stocks Friday extended the market's recovery from a dismal start to the year to a fifth week in a row.

The Standard and Poor's 500 index closed up for the year for the first time. The Dow Jones industrial average turned positive Thursday. Both had been down more than 10 percent for the year a little more than a month ago.

The Dow rose 120.81 points Friday, or 0.7 percent, to 17,602.30. It is up 1 percent for the year. The S&P 500 gained 8.99 points, or 0.4 percent, to 2,049.58, and is now up 0.3 percent for 2016. The Nasdaq composite picked up 20.6 points, or 0.4 percent, to 4,795.65, though the Nasdaq remains down 4 percent for the year.

Stocks had plunged early this year as investors feared that Chinese economy, which has been the engine of global growth, was slowing faster than expected and that China's slide would be enough to pull the U.S. economy into recession.

"The market tended to focus on the negative and ignore the good" at the start of this year, said Lowell Yura, head of Multi-Asset Solutions for BMO Global Asset Management.

But over the course of the five-week rally, reports on hiring, manufacturing and construction spending showed the U.S. economy is doing fairly well. Industrial, consumer and technology stocks benefited from the more positive outlook in the U.S. Energy and materials stocks climbed as oil and precious metals prices rose.

And this week the Federal Reserve said it expects to slow the pace of interest rate increases this year. Lower rates make stocks look more attractive to investors, and they help boost economic growth by reducing borrowing costs and reducing the risk associated with starting or expanding businesses.

The biggest gainers Friday were health care stocks and banks, the worst-performing parts of the market this year. Companies that make aircraft, machinery and chemicals also rose as the dollar fell against other currencies on hopes that the weaker dollar will boost their sales outside of the U.S.

Starwood Hotels climbed $4.18, or 5.5 percent, to $80.57 after the hotel chain said it accepted a new buyout offer from a group led by Anbang Insurance Group of China. The bid is worth more than $14 billion. Competitor Marriott, which agreed to buy Starwood last year, said it is considering its options and noted it has the right to make another offer.

Columbia Pipeline Group climbed after TransCanada Corp. agreed to buy the company for $10 billion, or $25.50 per share, in an attempt to expand further into the U.S. Columbia Pipeline stock advanced $1.33, or 5.7 percent, to $24.84.

Health care stocks regained some ground after a rough week. Hospital operator Tenet Healthcare rose $1.57, or 5.9 percent, to $28.14 and prescription drug distributor McKesson gained $6.62, or 4.4 percent, to $158.31. Drug companies also ticked upward after days of losses, including Bristol-Myers Squibb, which rose $1.36, or 2.2 percent, to $62.83.

JPMorgan Chase said it will buy back another $1.88 billion in stock, while Bank of America announced an $800 million stock repurchase. Chase stock rose $1.73, or 2.9 percent, to $60.48 and Bank of America shares picked up 39 cents, or 2.9 percent, to $13.79. Financial stocks are also getting a boost from the recovery in oil prices. As energy prices tumbled, investors worried that some bank loans to energy companies wouldn't get paid back.

Bond prices have also been rising in the wake of the Fed's announcement, and on Friday the yield on the 10-year U.S. Treasury note dipped to 1.87 percent from 1.90 percent. The euro fell to $1.1268 from $1.1316. The dollar inched up to 111.60 yen after closing at 111.50 yen Thursday.

Oil prices turned lower, though they remained sharply higher for the week. Benchmark U.S. crude lost 76 cents, or 1.9 percent, to $39.44 a barrel in New York. Brent crude, the benchmark for international oils, gave up 34 cents to $41.20 a barrel in London. On Thursday U.S. crude closed over $40 per barrel for the first time since early December. The price of U.S. crude is up 50 percent since Feb. 11 on hopes that producers will cut output and relieve a global glut.

Metals prices declined after a big jump on Thursday. Gold fell $10.70 to $1,254.30 an ounce. Silver lost 22 cents, or 1.4 percent, to $15.81 an ounce. Copper dipped 1 cent to $2.28 a pound.

In other energy trading, wholesale gasoline fell 1 cent to $1.43 a gallon. Heating oil lost 2 cents to $1.24 a gallon. Natural gas gave up 3 cents to $1.91 per 1,000 cubic feet.

Stocks overseas were mixed. Germany's DAX rose 0.6 percent and France's CAC 40 added 0.4 percent. Britain's FTSE 100 fell 0.2 percent. Japan's Nikkei 225 fell 1.2 percent and Hong Kong's Hang Seng index rose 0.8 percent. The Shanghai Composite index in mainland China rose 1.7 percent.

3287


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	21.57	points or ▲	0.12%	on	Monday, March 21, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,623.87	▲	21.57	▲	0.12%		
	Nasdaq____	4,808.87	▲	13.23	▲	0.28%		
	S&P_500___	2,051.60	▲	2.02	▲	0.10%		
	30_Yr_Bond____	2.73	▲	0.06	▲	2.13%		

NYSE Volume	 3,348,756,250 	 	 	 	 	  		 
Nasdaq Volume	 1,616,249,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,184.58	▼	-5.06	▼	-0.08%		
	DAX_____	9,948.64	▼	-2.16	▼	-0.02%		
	CAC_40__	4,427.80	▼	-34.71	▼	-0.78%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,224.90	▼	-14.40	▼	-0.27%		
	Shanghai_Comp	3,018.80	▲	63.65	▲	2.15%		
	Taiwan_Weight	8,812.70	▲	1.99	▲	0.02%		
	Nikkei_225___	16,724.81	▼	-211.57	▼	-1.25%		
	Hang_Seng.__	20,684.15	▲	12.52	▲	0.06%		
	Strait_Times.__	2,880.69	▼	-26.11	▼	-0.90%		
	NZX_50_Index_	6,641.94	▲	18.44	▲	0.28%		

http://finance.yahoo.com/news/stocks-drift-between-small-gains-losses-early-trade-141820706.html#

*Stocks shake off an early loss and end with slight gains*
Associated Press By ALEX VEIGA

Major U.S. stock indexes eked out modest gains on Monday, extending the market's winning streak into a fourth day.

Stocks wavered into the red at times before steadying in the late afternoon. The price of oil also veered lower at times, but ended higher.

Investors had their eye on the latest batch of company deal news and new data on housing that sent homebuilders broadly lower. Telecommunications services and health care stocks were among the biggest risers.

Monday's action builds on the market's five-week string of gains and suggests an improved outlook by investors since the market's rocky start to 2016. Worries about the global economy prompted the Federal Reserve to slow the pace of interest rate increases this year.

"Investors have really come to terms with the fact that recession risks are receding in the U.S., and that certainly was helped by the Fed action last week," said Mike Baele, senior portfolio manager at U.S. Bank Wealth Management. "We likely move sideways until we get some clarity on earnings."

The Dow Jones industrial average rose 21.57 points, or 0.1 percent, to 17,623.87. The Standard & Poor's 500 index added 2.02 points, or 0.1 percent, to 2,051.60. The Nasdaq composite gained 13.23 points, or 0.3 percent, to 4,808.87.

Thanks to steady gains in recent weeks, the Dow is up 1.1 percent for the year, while the S&P 500 index is up 0.4 percent. The Nasdaq is down about 4 percent.

Stocks had appeared to be headed for a down day early Monday.

Homebuilders fell broadly following a report indicating that sales of previously occupied U.S. homes sank 7.1 percent last month. The trend could weigh on homebuilders, many of which rely on buyers who must sell their home before they can purchase a newly built one. William Lyon Homes was among the biggest decliners. The stock shed 72 cents, or 4.9 percent, to $13.88.

Several companies rose on deal news.

Starwood Hotels & Resorts Worldwide climbed $3.62, or 4.5 percent, to $84.19. Its proposed buyout by Marriott International, which could be contested by China's Anbang, would create the world's biggest hotel company. That likely weighed on fellow hotel operator Wyndham Worldwide, which slid $3.72, or 4.6 percent, to $77.07.

Paint maker Valspar vaulted 23.1 percent on news of its $9 billion sale to Sherwin-Williams. Shares in Valspar rose $29.39 to $103.22. Sherwin slumped $15.40, or 5.3 percent, to $273.29.

Traders also welcomed Markit's decision to combine with competitor IHS in an all-stock deal valued at more than $13 billion. Markit surged $4.02, or 13.6 percent, to $33.51.

Embattled drug company Valeant Pharmaceuticals climbed 7.4 percent as investors cheered a boardroom shake-up that includes plans to replace CEO Michael Pearson and the addition of activist investor Bill Ackman to the board. The stock, which has slid 71.5 percent this year, gained $2 to $28.98.

Oil prices also recovered after dipping earlier in the day.

Benchmark U.S. crude rose 47 cents, or 1.2 percent, to close at $39.91 a barrel in New York. Brent crude, the benchmark for international oils, gained 34 cents to close at $41.54 a barrel in London.

Several energy companies slumped as natural gas lost 8 cents, or 4.1 percent, to close at $1.83 per 1,000 cubic feet.

Williams Cos. shed 80 cents, or 4.4 percent, to $17.35, while Cabot Oil & Gas slid 98 cents, or 4.3 percent, to $21.79. Natural gas transport and storage company Oneok also fell. It was down $1.13, or 3.7 percent, to $29.69.

Market action overseas was mixed.

In Europe, Germany's DAX was essentially flat, while France's CAC 40 fell 0.8 percent. Britain's FTSE 100 slipped 0.1 percent. In Asia, South Korea's benchmark Kospi index slipped 0.1 percent, while Hong Kong's Hang Seng index rose 0.1 percent. Australia's S&P/ASX 200 dipped 0.3 percent. Markets in Japan were closed for a holiday.

In other energy trading, wholesale gasoline added 3 cents, or 2.2 percent, to close at $1.46 a gallon, while heating oil slipped less than a penny to close at $1.24 a gallon.

Among metals, gold dropped $10.10, or 0.8 percent, to $1,244.20 an ounce. Silver fell rose 4 cents, or 0.2 percent, to $15.85 an ounce. Copper rose a penny, or 0.4 percent, to $2.29 a pound.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 1.92 percent from 1.88 percent late Friday. The euro fell to $1.1248 while the dollar rose to 111.84 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-41.3	points or ▼	-0.23%	on	Tuesday, March 22, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,582.57	▼	-41.30	▼	-0.23%		
	Nasdaq____	4,821.66	▲	12.79	▲	0.27%		
	S&P_500___	2,049.80	▼	-1.80	▼	-0.09%		
	30_Yr_Bond____	2.72	▼	-0.01	▼	-0.40%		

NYSE Volume	 3,381,793,750 	 	 	 	 	  		 
Nasdaq Volume	 1,604,919,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,144.65	▼	-39.93	▼	-0.65%		
	DAX_____	9,990.00	▲	41.36	▲	0.42%		
	CAC_40__	4,431.97	▲	4.17	▲	0.09%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,230.80	▲	5.90	▲	0.11%		
	Shanghai_Comp	2,999.36	▼	-19.44	▼	-0.64%		
	Taiwan_Weight	8,785.68	▼	-27.02	▼	-0.31%		
	Nikkei_225___	17,048.55	▲	323.74	▲	1.94%		
	Hang_Seng.__	20,666.75	▼	-17.40	▼	-0.08%		
	Strait_Times.__	2,880.65	▼	-0.04	▲	0.00%		
	NZX_50_Index_	6,664.25	▲	22.31	▲	0.34%		

http://www.usnews.com/news/business...lower-travel-companies-sink-following-attacks

*U.S. stock indexes close mostly lower as airlines, cruise companies and travel booking sites fall following the deadly bombings in Belgium*

By ALEX VEIGA, AP Business Writer

U.S. stock indexes closed mostly lower Tuesday as airlines, cruise companies and travel booking sites fell following the deadly bombings in Belgium.

News of the attacks, which killed at least 31 people, pulled the broader market lower for much of the morning. An early afternoon rally erased some of the losses, but the rebound didn't hold.

Oil drilling companies also slumped following a downbeat forecast on drilling. Health care and technology stocks gained ground.

The last-minute slide snapped a four-day winning streak for the market. Trading was relatively light, reflecting the Easter holiday weekend. It also signaled that traders were not rattled by the potential market implications of the attack.

"This is the new investing normal now," said Chris Gaffney, president of EverBank World Markets. "You're going to have these big tragic events, so I don't think investors are really too concerned with it long-term."

The Dow Jones industrial average lost 41.30 points, or 0.2 percent, to 17,582.57. The Standard & Poor's 500 index dipped 1.80 points, or 0.1 percent, to 2,049.80. The Nasdaq composite added 12.79 points, or 0.3 percent, to 4,821.66.

The three main U.S. stock indexes headed lower early on Tuesday as traders digested the news that bombs had struck the Brussels airport and one of the city's metro stations. Belgium raised its terror alert to the highest level. Airports across Europe tightened security. The Islamic State group claimed responsibility for the attacks.

The major European stock markets declined early on, but ultimately closed higher.

Germany's DAX rose 0.4 percent, while the CAC-40 in France edged up 0.1 percent. The FTSE 100 index of leading British shares was up 0.1 percent. Belgium's BEL 20 index rose 0.2 percent.

"What happens is investors and traders go in and start to bottom-fish on sectors that have sold off," said Quincy Krosby, market strategist at Prudential Financial. "It flies in the face of the headlines and the human cost of these terrorist attacks, but the stock markets tend to turn around."

In the U.S., travel-related companies slumped and never quite recovered.

Royal Caribbean Cruises shed $2.24, or 2.9 percent, to $75.99, while Carnival lost $1.03, or 2.1 percent, to $48.75.

American Airlines Group fell 71 cents, or 1.6 percent, to $42.76, while Delta Air Lines fell 73 cents, or 1.5 percent, to $49.39.

Travel website operators Priceline Group and Expedia also fell.

Priceline slid $31.10, or 2.3 percent, to $1,319.41, while Expedia lost $1.96, or 1.8 percent, to $108.92.

"The only sector that appears to be truly suffering, naturally, is anything having to do with travel," said J.J. Kinahan, TD Ameritrade's chief strategist.

Transocean also slumped Tuesday.

The oil drilling company shed 53 cents, or 5 percent, to $10 after management said they don't expect drilling to increase any time soon. The outlook weighed on other drillers. Ensco lost 32 cents, or 2.8 percent, to $11.01, while Helmerich & Payne slid $1.12, or 1.8 percent, to $59.86.

Other stocks fared better.

Staples climbed 7.6 percent to lead all gainers in the S&P 500 index. The company recovered some of its losses from a day earlier, when a court battle over the office supply chain's proposed merger with Office Depot began. The stock added 73 cents to $10.30.

Markets in Asia were mixed.

Japan's Nikkei 225 climbed 1.9 percent, while Hong Kong's Hang Seng index shed early gains, sliding 0.1 percent. South Korea's Kospi gained 0.4 percent, while Australia's S&P ASX 200 edged up 0.1 percent.

In energy trading, benchmark U.S. crude slipped 7 cents to close at $41.45 a barrel in New York. Brent crude, the benchmark for international oils, rose 25 cents to $41.79 a barrel in London. In other energy trading, wholesale gasoline added 4 cents, or 2.6 percent, to close at $1.50 a gallon, while heating oil rose a penny to close at $1.25 a gallon. Natural gas added 4 cents, or 1.9 percent, to close at $1.86 per 1,000 cubic feet.

Among metals, gold rose $4.40, or 0.4 percent, to $1,248.60 an ounce. Silver gained 4 cents, or 0.2 percent, to $15.89 an ounce. Copper was little changed at $2.29 a pound.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 1.94 percent from 1.92 percent late Monday. The euro fell to $1.1216 from $1.1251, while the dollar rose to 112.33 yen from 111.86.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-79.98	points or ▼	-0.45%	on	Wednesday, March 23, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,502.59	▼	-79.98	▼	-0.45%		
	Nasdaq____	4,768.86	▼	-52.80	▼	-1.10%		
	S&P_500___	2,036.71	▼	-13.09	▼	-0.64%		
	30_Yr_Bond____	2.65	▼	-0.07	▼	-2.57%		

NYSE Volume	 3,627,193,000 	 	 	 	 	  		 
Nasdaq Volume	 1,707,080,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,199.11	▲	6.37	▲	0.10%		
	DAX_____	10,022.93	▲	32.93	▲	0.33%		
	CAC_40__	4,423.98	▼	-7.99	▼	-0.18%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,204.30	▼	-26.50	▼	-0.51%		
	Shanghai_Comp	3,009.96	▲	10.60	▲	0.35%		
	Taiwan_Weight	8,766.09	▼	-19.59	▼	-0.22%		
	Nikkei_225___	17,000.98	▼	-47.57	▼	-0.28%		
	Hang_Seng.__	20,615.23	▼	-51.52	▼	-0.25%		
	Strait_Times.__	2,881.98	▲	1.33	▲	0.05%		
	NZX_50_Index_	6,664.25	▲	22.31	▲	0.34%		

http://abcnews.go.com/Business/wireStory/stocks-decline-broadly-early-trading-us-37867133

*Stocks Slip, Led by Energy and Materials Companies*
  By alex veiga, ap business writer

 Falling prices for oil and other commodities pulled U.S. stocks modestly lower on Wednesday, nudging the Standard & Poor's 500 index slightly into the red for the year and putting it on course to snap a five-week winning streak.

Energy and mining companies led the decline, while consumer staples and utilities stocks bucked the broader downward trend.

Disappointing earnings from several companies, including Nike, also weighed on the market. Oil slumped 4 percent.

Trading was muted ahead of Friday, when markets will be closed for the Good Friday holiday.

"It's one of the lowest volume days of the year," said Erik Davidson, chief investment officer for Wells Fargo Private Bank. "We're seeing a little bit of a sell-off, but not much."

Investors can expect similarly low trading volume on Thursday.

The Dow Jones industrial average fell 79.98 points, or 0.5 percent, to 17,502.59. The S&P 500 index lost 13.09 points, or 0.6 percent, to 2,036.71. The Nasdaq composite dropped 52.80 points, or 1.1 percent, to 4,768.86.

The Dow is now up 0.5 percent for the year, while the S&P 500 is down 0.4 percent and the Nasdaq is off 4.8 percent.

Major U.S. indexes moved lower early on as falling prices for oil, natural gas, precious metals and other commodities put traders in a selling mood.

Chesapeake Energy lost 69 cents, or 14.3 percent, to $4.13, while Marathon Oil fell $1.12, or 9.9 percent, to $10.19. Southwestern Energy slid 73 cents, or 9 percent, to $7.35.

Mining companies also slumped, including Newmont Mining, which fell $2.41, or 8.8 percent, to $24.98, while Freeport-McMoRan lost $1.24, or 11.28 percent, to $9.75.

A batch of company earnings also gave investors reasons to sell.

Nike, one of the 30 stocks in the Dow, fell 3.8 percent after reporting revenue that fell far short of what analysts were expecting. The athletic apparel maker also gave a weaker-than-anticipated outlook for 2016. The stock dropped $2.46 to $62.44.

Krispy Kreme Doughnuts slid 7.1 percent after the chain reported disappointing fourth-quarter revenue and a weaker-than-expected annual profit forecast. The stock shed $1.09 to $14.29.

Software maker Red Hat also declined, losing 4.2 percent after it reported disappointing forecasts. The stock fell $3.38 to $72.33.

Most homebuilders slumped after the Commerce Department reported that new-home sales rose only 2 percent in February to a seasonally adjusted annual rate of 512,000. Sales in the opening two months of 2016 are running slightly below last year's pace. Beazer Homes USA fell the most, sliding 63 cents, or 7.2 percent, to $8.07.

All told, eight of the 10 sectors in the S&P 500 index lost ground, with energy stocks sliding the most, 2.1 percent. The sector is down about 18 percent over the past 12 months. Utilities and consumer staples stocks moved higher.

Not all companies got caught up in the broad decline.

Pepco Holdings vaulted $5.69, or 26.8 percent, to $26.93 after a Washington D.C. regulator approved Pepco's $7 billion sale to rival utility Exelon. The deal will only go through if Exelon agrees to the regulator's terms, however. Exelon slipped 28 cents, or less than 1 percent, to $34.72.

European stocks were mixed following Tuesday's deadly bombings in Belgium.

Germany's DAX rose 0.3 percent, while France's CAC 40 fell 0.2 percent. Britain's FTSE 100 edged up 0.1 percent. Belgium's main index increased 0.1 percent.

In Asia, markets mostly fell moderately. Japan's benchmark Nikkei 225 fell 0.3 percent. South Korea's Kospi edged 0.1 percent lower. Hong Kong's Hang Seng fell 0.3 percent. Australia's S&P/ASX 200 lost 0.5 percent.

In energy trading, benchmark U.S. crude fell $1.66, or 4 percent, to close at $39.79 a barrel in New York. Brent crude, the benchmark for international oils, slid $1.32, or 3.2 percent, to close at $40.47 a barrel in London.

Wholesale gasoline fell 4 cents, or 2.9 percent, to close at $1.45 a gallon, while heating oil slipped 5 cents, or 3.8 percent, to close at $1.20 a gallon. Natural gas declined 7 cents, or 3.7 percent, to close at $1.79 per 1,000 cubic feet.

Among metals, gold fell $24.60, or 2 percent, to $1,224.40 an ounce. Silver slid 61 cents, or 3.9 percent, to $15.27 an ounce. Copper lost 5 cents, or 2.4 percent, to $2.24 a pound.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.87 percent from 1.94 percent late Tuesday. The euro fell slightly to $1.1183 from $1.1216, while the dollar rose to 112.39 yen from 112.33 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	13.14	points or ▲	0.08%	on	Thursday, March 24, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,515.73	▲	13.14	▲	0.08%		
	Nasdaq____	4,773.50	▲	4.64	▲	0.10%		
	S&P_500___	2,035.94	▼	-0.77	▼	-0.04%		
	30_Yr_Bond____	2.67	▲	0.02	▲	0.87%		

NYSE Volume	 3,407,041,500 	 	 	 	 	  		 
Nasdaq Volume	 1,564,057,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,106.48	▼	-92.63	▼	-1.49%		
	DAX_____	9,851.35	▼	-171.58	▼	-1.71%		
	CAC_40__	4,329.68	▼	-94.30	▼	-2.13%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,151.60	▼	-52.70	▼	-1.01%		
	Shanghai_Comp	2,960.97	▼	-48.99	▼	-1.63%		
	Taiwan_Weight	8,743.38	▼	-22.71	▼	-0.26%		
	Nikkei_225___	16,892.33	▼	-108.65	▼	-0.64%		
	Hang_Seng.__	20,345.61	▼	-269.62	▼	-1.31%		
	Strait_Times.__	2,847.39	▼	-34.59	▼	-1.20%		
	NZX_50_Index_	6,662.55	▼	-6.32	▼	-0.09%		

http://finance.yahoo.com/news/energy-stocks-lead-early-decline-134243388.html#

*US stocks close narrowly mixed in quiet pre-holiday trading*
Associated Press By Alex Veiga, AP Business Writer

The U.S. stock market capped a week of mostly light trading Thursday with its first weekly loss since mid-February.

A slide in banks and other financial services companies pulled the market broadly lower for much of the day. By late afternoon, the Dow Jones industrial average and the Nasdaq composite recaptured losses from earlier in the day. The Standard & Poor's 500 index, a broad measure of the stock market, stayed in the red. Oil prices fell.

Trading was relatively quiet ahead of the Easter holiday weekend. U.S. markets will be closed Friday for the Good Friday holiday.

"Volume is very light today, probably the lightest that we've had in a month," said Quincy Krosby, market strategist at Prudential Financial. "That can skew markets in either direction."

The Dow rose 13.14 points, or 0.1 percent, to 17,515.73. The S&P 500 index slipped 0.77 points, or 0.04 percent, to 2,035.94. The Nasdaq added 4.64 points, or 0.1 percent, to 4,773.50.

Coming into this week the stock market had mounted a five-week string of gains that helped reverse some of Wall Street's hefty losses from the market's stumbling start to 2016.

The market's rebound gained momentum last week, when the Federal Reserve announced that it would slow the pace of interest rate increases this year, citing worries about the global economy.

But this week, some Fed bank presidents made public comments that suggested the pace of rate hikes might not be slowed after all.

One Fed official, James Bullard, president of the St. Louis Federal Reserve Bank, pointed to a broadly unchanged economic outlook and said a case could be made for a possible rate hike next month if the next round of jobs data exceed official targets.

The remarks drove up the value of the dollar against other major currencies, pushing down commodity prices.

It also helped point stocks lower from the get-go on Thursday, as investors fretted over the impact on U.S. exports.

"It makes the market nervous and it suggests that perhaps there's dissent at the Federal Reserve," Krosby said.
Dollar strength is whacking Europe, Asia, oil and  … Play video
Dollar strength is whacking Europe, Asia, oil and gold:&nbsp;&hellip;

A government report indicating that orders to U.S. factories for long-lasting manufactured goods fell 2.8 percent in February didn't help.

Financial stocks took the biggest hit. The sector pared some of its early losses, but still ended the day down the most among the S&P 500 index's 10 sectors, 0.7 percent.

Prudential Financial lost $2.07, or 2.8 percent, to $70.76, while Morgan Stanley shed 34 cents, or 1.3 percent, to $24.93. Wells Fargo fell 86 cents, or 1.7 percent, to $48.90.

The decline in commodities also hurt some energy companies, including Williams Cos. The natural gas producer fell the most among stocks in the S&P 500 index, tumbling 91 cents, or 5.6 percent, to $15.35.

Several companies also moved on earnings news.

Sportsman's Warehouse sank 11.3 percent after the company released a disappointing forecast. The stock shed $1.56 to $12.23.

Others fared better.

Signet Jewelers rose 2.9 percent after the retailer posted solid quarterly results and its annual profit forecast was better than expected. The stock added $3.41 to $121.42.

KB Home also reported strong first-quarter results. The homebuilder gained 83 cents, or 6.3 percent, to $13.93. And PVH, owner of the Calvin Klein and Tommy Hilfiger brands, rose $6.66, or 7.6 percent, to $94.29 after it reported better-than-anticipated quarterly profit and revenue.

Meanwhile, Office Depot and Staples vaulted on mounting optimism that a court will allow the office supply competitors to combine even though regulators oppose the deal. Office Depot gained 57 cents, or 9 percent, to $6.91. Staples climbed 71 cents, or 7 percent, to $10.76.

Stock markets in Europe posted sizable losses.

Germany's DAX dropped 1 percent, while France's CAC-40 fell 3 percent. Britain's FTSE 100 slid 1.3 percent. In Asia, Hong Kong's Hang Seng slid 1.3 percent. Sydney's S&P ASX 200 fell 1.1 percent, while Seoul's Kospi was off 0.5 percent. Tokyo's Nikkei 225 shed 0.6 percent.

After a period of sustained gains, oil prices closed lower again as concerns over excess supplies returned following the latest U.S. stockpiles data. Benchmark U.S. crude fell 33 cents, or 0.8 percent, to close at $39.46 a barrel in New York. Brent crude, the benchmark for international oils, slipped 3 cents to $40.44 a barrel in London. Wholesale gasoline rose a penny to close at $1.47 a gallon. Heating oil slipped a penny to close at $1.20 a gallon. Natural gas added a penny to close at $1.81 per 1,000 cubic feet.

Gold fell $2.40 to $1,221.60 an ounce. Silver slid 7 cents to $15.20 an ounce. Copper lost a penny to $2.23 a pound.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.90 percent from 1.88 percent late Wednesday. The euro was down to $1.1177 from $1.1183, while the dollar rose to 112.81 yen from 112.39.

3913


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	19.66	points or ▲	0.11%	on	Monday, March 28, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,535.39	▲	19.66	▲	0.11%		
	Nasdaq____	4,766.79	▼	-6.72	▼	-0.14%		
	S&P_500___	2,037.05	▲	1.11	▲	0.05%		
	30_Yr_Bond____	2.64	▼	-0.03	▼	-1.05%		

NYSE Volume	 2,797,744,750 	 	 	 	 	  		 
Nasdaq Volume	 1,319,041,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,106.48	▼	-92.63	▼	-1.49%		*Easter Monday Holiday * 
	DAX_____	9,851.35	▼	-171.58	▼	-1.71%	*Easter Monday Holiday * 
	CAC_40__	4,329.68	▼	-94.30	▼	-2.13%	*Easter Monday Holiday * 

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,151.60	▼	-52.70	▼	-1.01%	*Easter Monday Holiday * 
	Shanghai_Comp	2,957.82	▼	-21.61	▼	-0.73%		
	Taiwan_Weight	8,690.45	▼	-14.52	▼	-0.17%		
	Nikkei_225___	17,134.37	▲	131.62	▲	0.77%		
	Hang_Seng.__	20,345.61	▼	-269.62	▼	-1.31%	*Easter Monday Holiday * 
	Strait_Times.__	2,830.29	▼	-17.10	▼	-0.60%		
	NZX_50_Index_	6,662.55	▼	-6.32	▼	-0.09%	*Easter Monday Holiday * 

https://www.washingtonpost.com/busi...e1dda6-f4ac-11e5-958d-d038dac6e718_story.html

*Stocks are mixed in quiet trading; consumer companies lead*
 By Marley Jay | AP March 28 at 4:52 PM

NEW YORK ”” Stocks got a little help from an international hotel deal and dueling superheroes Monday, but they could only wobble to a split finish in a quiet day of trading.

Hotel chains Starwood and Marriott climbed after a Chinese insurance company made another offer to buy Starwood. Media giant Time Warner rose after “Batman v Superman: Dawn of Justice” had a super opening weekend.

Stocks flipped between small gains and losses for most of the day. Oil prices slipped and energy companies took modest losses. Mining and metals companies traded slightly higher.

Monday was the slowest trading day of 2016 for U.S. markets, and European exchanges were closed for the Easter holiday. Trading was closed in the U.S. Friday for the Good Friday holiday.

The Dow Jones industrial average rose 19.66 points, or 0.1 percent, to 17,535.39. The Standard & Poor’s 500 index added 1.11 points to 2,037.05, ending a three-day losing streak.

The Nasdaq composite index lost 6.72 points, or 0.1 percent, to 4,766.79. Stocks have flagged over the last few days after a five-week rally.

The bidding for the Starwood chain may have reached an end as a group of investors led by China’s Anbang Insurance Group offered to buy the company for $15 billion. Marriott agreed to buy Starwood for $12.2 billion last year and recently raised that offer to $14.41 billion. Starwood stock added $1.62, or 2 percent, to $83.75. It’s up 19 percent in the last two weeks.

Marriott rose $2.70, or 3.9 percent, to $71.34. JMP Securities analyst Whitney Stevenson said investors expect Marriott to give up on its pursuit of Starwood.

“They were probably at the limit of what they wanted to pay,” she said. “Marriott stock is up today because the market is assuming they do not overpay and collect the $470-ish million they get from the breakup fee and walk away from this thing.”

If Anbang does buy Starwood, that will be good news for smaller hotel companies, Stevenson said. Starwood and Marriott would have been the largest hotel chain in the world, and she said they could have “crushed” smaller competitors.

Time Warner climbed after “Batman v Superman” had one of the best opening weekends ever despite negative reviews and some skepticism from fans. It grossed about $424 million worldwide, including $170 million in the U.S. That was a good sign for Time Warner’s planned series of movies based on DC Comics characters.

Time Warner rose $2.53, or 3.6 percent, to $72.54. Also making gains were Netflix, which rose $2.85, or 2.9 percent, to $101.21, and retailer Dollar Tree, which added $2.32, or 3 percent, to $80.84.

Those and other consumer stocks rose after the government said Friday that the U.S. economy grew at a faster pace in the fourth quarter. And on Monday, the Commerce Department said consumer spending continued to grow in February, although for the third straight month, it rose by only a small amount.

Consumers have saved a lot of money as gas and heating prices have plunged, said Michael Scanlon, managing director and portfolio manager for John Hancock Asset Management. But he said people aren’t sure that prices will stay low, so they haven’t ramped up their spending. That has surprised experts.

“The fact that spending is growing in line with wages is showing how much more responsible the U.S. consumer is today,” he said. But Scanlon thinks consumers will start spending more soon.

On Friday the government said the economy grew 1.4 percent in the fourth quarter, above its previous estimate of 1 percent. Consumer spending and home construction kept the economy growing.

Benchmark U.S. crude fell seven cents to $39.39 a barrel in New York. Brent crude, used to price international oils, lost 17 cents to $40.27 a barrel in London. That weighed on energy companies. Hess lost $1.26, or 2.4 percent, to $50.84 and Devon Energy fell 63 cents, or 2.4 percent, to $25.84.

Noble Energy slumped after Israel’s Supreme Court struck down a deal that would have given Noble and other companies the right to start pumping natural gas from offshore deposits. The stock shed $2.65, or 8.2 percent, to $29.69.

Cosmetics giant Avon Products said it reached a deal with activist investors, including Barington Capital, that headed off a possible proxy fight. Avon stock rose 36 cents, or 8.4 percent, to $4.64.

Pandora Media skidded after the streaming music company announced a management shakeup. Co-founder Tim Westergren will replace Brian McAndrews as CEO. The stock tumbled $1.33, or 12.2 percent, to $9.60.

In other energy trading, wholesale gasoline was little changed at $1.47 a gallon. Heating oil fell 2 cents to $1.18 a gallon. Natural gas rose 4 cents, or 2.3 percent, to $1.85 per 1,000 cubic feet.

The price of gold fell $1.50 to $1,220.10 an ounce. Silver lost 1 cent to $15.19 an ounce. Copper rose 2 cents to $2.25 a pound.

Asian stocks were mostly lower. Seoul’s Kospi edged down 0.1 percent. Tokyo’s Nikkei 225 gained 0.8 percent.

Bond prices rose. The yield on the 10-year U.S. Treasury note dipped to 1.88 percent from 1.91 percent. The euro inched up to $1.1200 from $1.1177 late Thursday. The dollar rose to 113.28 yen from 112.81 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	97.72	points or ▲	0.56%	on	Tuesday, March 29, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,633.11	▲	97.72	▲	0.56%		
	Nasdaq____	4,846.62	▲	79.84	▲	1.67%		
	S&P_500___	2,055.01	▲	17.96	▲	0.88%		
	30_Yr_Bond____	2.61	▼	-0.03	▼	-1.25%		

NYSE Volume	 3,820,168,250 	 	 	 	 	  		 
Nasdaq Volume	 1,718,133,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,105.90	▼	-0.58	▼	-0.01%		
	DAX_____	9,887.94	▲	36.59	▲	0.37%		
	CAC_40__	4,366.67	▲	36.99	▲	0.85%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,076.20	▼	-75.40	▼	-1.46%		
	Shanghai_Comp	2,919.83	▼	-37.99	▼	-1.28%		
	Taiwan_Weight	8,617.35	▼	-73.10	▼	-0.84%		
	Nikkei_225___	17,103.53	▼	-30.84	▼	-0.18%		
	Hang_Seng.__	20,366.30	▲	20.69	▲	0.10%		
	Strait_Times.__	2,819.08	▼	-11.21	▼	-0.40%		
	NZX_50_Index_	6,676.33	▲	13.78	▲	0.21%		

http://finance.yahoo.com/news/us-stocks-open-lower-dragged-134547079.html#

*Reassurances from Fed on interest rates send stocks higher*
Associated Press By MARLEY JAY

NEW YORK, N.Y. - Stocks closed at their highest level of the year Tuesday as investors welcomed the latest signal from the Federal Reserve that it will move slowly to raise interest rates. Big names including Apple and Microsoft led technology stocks higher as the market made its biggest gain in two weeks.

Stocks rose after Yellen confirmed that the Fed isn't in a hurry to raise interest rates. The Fed made similar points just two weeks ago, but since then, some members of the Fed's decision making committee had said they thought it was time for rates to go higher. Yellen's remarks boosted all corners of the market, and the price of gold rose along with stocks. Bond prices also rose and yields sank.

"A little bit of self-doubt started to enter the trading public's mind," said Sam Stovall, U.S. equity strategist for S&P Capital IQ. "She reassured investors."

The Dow Jones industrial average rose 97.72 points, or 0.6 per cent, to 17,633.11. The Standard & Poor's 500 index gained 17.96 points, or 0.9 per cent, to 2,055.01 Aided by the gains in tech stocks and in small cap stocks, the Nasdaq composite index climbed 79.84 points, or 1.7 per cent, to 4,846.62.

Stocks were trading slightly lower before Yellen's remarks, but they moved higher after the text of her comments was released. The price of gold climbed while bond yields fell and the dollar weakened. The yield on the 10-year U.S. Treasury note slid to 1.80 per cent from 1.89 per cent. The euro rose to $1.1295 from $1.1200. The dollar slipped to 112.75 yen from 113.28 yen. Gold rose $15.70, or 1.3 per cent, to $1,235.80 an ounce.

Apple climbed $2.51, or 2.4 per cent, to $107.70 after the FBI dropped its legal efforts to force Apple to break into the iPhone used by Syed Farook, who along with his wife killed 14 people in San Bernadino, California, in December. The FBI said it was able to hack into the phone, and asked a court to vacate an order forcing Apple to help. Apple had been fighting the government's efforts and said it will continue trying to make its products more secure.

Microsoft added $1.17, or 2.2 per cent, to $54.71. Information technology company SAIC advanced $5.33, or 11.5 per cent, to $51.88 after its fourth-quarter profit was far larger than analysts expected.

Utility and telecommunications stocks, which pay hefty dividends similar to bonds, also traded higher.

Financial stocks made only small gains and lagged the market. They are able to charge more money on lending when interest rates are higher, so the Fed's low-rate policy has hurt the sector. So has the weakening price of oil, because investors are worried that loans to energy companies won't be repaid.

Bank of America fell 20 cents, or 1.5 per cent, to $13.42 and Wells Fargo lost 65 cents, or 1.3 per cent, to $48.05.

In her remarks to the Economic Club of New York, Yellen said the Fed expects to move slowly because the U.S. economy and financial conditions have weakened over the last few months, and global pressures could harm the U.S. economy. Those concerns include the possibility of a broad economic slump, lower oil prices, and the shaky stock market.

The Fed cited similar reasons earlier this month, when it said it expected to raise rates twice this year, not four times.

Benchmark U.S. crude dropped $1.11, or 2.8 per cent, to $38.28 a barrel in New York. Brent crude, used to price international oils, lost $1.13, or 2.8 per cent, to $39.14 a barrel in London.

Home building companies rose after Lennar reported strong quarterly results, selling more homes at higher prices. Its stock gained $1.48, or 3.2 per cent, to $48.18. Competitor D.R. Horton rose 90 cents, or 3 per cent, to $30.72 and PulteGroup added 39 cents, or 2.2 per cent, to $18.51.

Drugmaker Medivation fell after a group of legislators took aim at the company over the price of its prostate cancer treatment Xtandi. They urged federal agencies to cut the price of Xtandi and asked for public hearings. Xtandi is Medivation's only approved drug, and its average list price is about $129,000 a year. Sales topped $1 billion last year. Medivation stock shed $2.50, or 6.1 per cent, to $38.75.

Retailer Conn's skidded $3.84, or 24.5 per cent, to $11.81 after its quarterly profit came up short of estimates and its 2016 forecasts disappointed investors.

In other commodities trading, heating oil fell two cents to $1.16 a gallon. Natural gas rose 3 per cent to $1.90 per 1,000 cubic feet. Silver picked up 4 cents to $15.23 an ounce. Copper prices slumped 3 cents, or 1.4 per cent, to $2.21 a pound.

Overseas markets were mixed. France's CAC 40 added 0.9 per cent and Germany's DAX picked up 0.4 per cent. The FTSE 100 index of leading British shares was little changed. Japan's benchmark Nikkei 225 lost 0.2 per cent and South Korea's Kospi added 0.6 per cent. Hong Kong's Hang Seng gained 0.1 per cent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	83.55	points or ▲	0.47%	on	Wednesday, March 30, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,716.66	▲	83.55	▲	0.47%		
	Nasdaq____	4,869.29	▲	22.67	▲	0.47%		
	S&P_500___	2,063.95	▲	8.94	▲	0.44%		
	30_Yr_Bond____	2.66	▲	0.05	▲	1.76%		

NYSE Volume	 3,588,700,500 	 	 	 	 	  		 
Nasdaq Volume	 1,629,511,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,203.17	▲	97.27	▲	1.59%		
	DAX_____	10,046.61	▲	158.67	▲	1.60%		
	CAC_40__	4,444.42	▲	77.75	▲	1.78%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,081.50	▲	5.30	▲	0.10%		
	Shanghai_Comp	3,000.65	▲	80.81	▲	2.77%		
	Taiwan_Weight	8,737.04	▲	119.69	▲	1.39%		
	Nikkei_225___	16,878.96	▼	-224.57	▼	-1.31%		
	Hang_Seng.__	20,803.39	▲	437.09	▲	2.15%		
	Strait_Times.__	2,872.78	▲	53.70	▲	1.90%		
	NZX_50_Index_	6,714.16	▲	37.83	▲	0.57%		

http://finance.yahoo.com/news/us-stocks-open-higher-building-134401453.html#

*Another gain for US stocks, led by banks and tech companies*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- U.S. stocks rose Wednesday as technology companies traded higher for the second day in a row and consumer companies gained steam as cruise lines rose. The beleaguered financial sector recovered some of its losses from earlier this year.

Stocks started the day sharply higher, following a jump in European markets, although they returned some of those gains as the day wore on. Oil prices followed the same pattern and finished a few cents higher. Cruise lines rose after Carnival posted strong first-quarter results, and the dollar weakened further. Stocks are up about 7 percent this month, part of a rally that has canceled out their losses from a disastrous start to the year.

"The Fed really cured a lot of global ills" by deciding to go slower in raising interest rates, said John Cannally, chief economic strategist for LPL Financial. The Federal Reserve announced that decision two weeks ago, and Fed Chair Janet Yellen emphasized it again in a speech Tuesday.

The Dow Jones industrial average rose 83.55 points, or 0.5 percent, to 17,716.66. The Standard & Poor's 500 index gained 8.94 points, or 0.4 percent, to 2,063.95. The Nasdaq composite index added 22.67 points, or 0.5 percent, to 4,869.29.

Banks and insurance companies made the biggest gains. MetLife gained $2.27, or 5.3 percent, to $44.73 after the company successfully challenged its "too big to fail" designation. The Financial Stability Oversight Council had said MetLife needed greater government oversight because of its size and importance to the financial system, but the company took the council to court over that ruling. On Wednesday a judge ruled in its favor.

Fellow insurer AIG advanced $1.13, or 2.1 percent, to $54.52 and Prudential rose $1.43, or 2 percent, to $72.95. Banks also traded higher.

Apple led the gains among technology companies. Its stock rose $1.88, or 1.7 percent, to $109.56. The world's largest publicly traded company is at its highest price since mid-December. Visa gained $1.40, or 1.9 percent, to $76.78.

After two weeks of mixed trading, stocks started moving higher late Tuesday, when Federal Reserve Chair Janet Yellen said the central bank expects to proceed slowly in raising interest rates. The market is now on pace for its best month since October, and the Dow and S&P 500 are higher for the year. In February they were each down 10 percent.

"You really had a year's worth of volatility in one quarter and we're back where we started," said Cannally. Companies will start reporting their first-quarter earnings in two weeks, and Cannally said that may determine what the market does next.

Cruise line operator Carnival got a boost after its first-quarter results were better than analysts expected, and the company raised its profit projections for the year. The stock gained $2.73, or 5.5 percent, to $52.37 and competitor Royal Caribbean Cruises jumped $4.30, or 5.7 percent, to $80.35.

Railroad operator Norfolk Southern added $1.95, or 2.4 percent, to $84.75 after it said it is open to a possible sale to Canadian Pacific, but only if Canadian Pacific offers a better price and regulators approve the structure of the deal. Norfolk Southern has rejected three offers from Canadian Pacific worth about $30 billion. Rival CSX picked up 41 cents, or 1.6 percent, to $26.30.

U.S. companies added 200,000 jobs in March, according to a survey of private employers by ADP, a payroll processing company. The survey showed companies in construction, retail and shipping continued to bring on new workers, and it suggests hiring continues in the U.S. The federal government will release its monthly jobs report Friday.

Canadian yoga-wear company Lululemon gained $6.56, or 10.7 percent, to $67.80 after it disclosed strong fourth-quarter sales.

Acadia Pharmaceuticals rose after a Food and Drug Administration panel made a positive recommendation for Acadia's drug Nuplazid, which is intended to treat psychotic delusions and behaviors that harm patients with Parkinson's disease. The stock climbed $2.20, or 9.2 percent, to $26.01.

Payroll processor Paychex lost $1.20, or 2.2 percent, to $53.29 as investors were unimpressed with its fiscal third-quarter results. The stock has climbed over the last two months and is near all-time highs.

U.S. crude rose four cents to $38.32 a barrel in New York. Brent crude, the benchmark for international oil prices, rose 12 cents to $39.26 a barrel in London.

The dollar continued to weaken. The euro rose to $1.1333 from $1.1295 and the dollar fell to 112.47 yen from 112.75 yen. Bond prices slipped, returning some of Tuesday's gains. The yield on the 10-year U.S. Treasury note rose to 1.83 percent from 1.80 percent.

France's CAC-40 climbed 1.8 percent, while Germany's DAX and the FTSE 100 in Britain each rose 1.6 percent. Asian stocks were mixed after the Asian Development Bank said economies in the region will grow at a slower pace in 2016 and 2017 because of reduced growth in China and a weak recovery in other major industrial economies. Tokyo's Nikkei 225 lost 1.3 percent as the yen continued to strengthen. Hong Kong's Hang Seng index climbed 2.1 percent. South Korea's KOSPI rose 0.4 percent.

Gold fell $8.90 to $1,226.90 an ounce. Silver slipped two cents to $15.21 an ounce, while copper fell two cents to $2.19 a pound.

In other energy trading, wholesale gasoline fell 2 cent to $1.44 a gallon. Heating oil was little changed at $1.16 a gallon. Natural gas climbed 2 cents to $2 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-31.57	points or ▼	-0.18%	on	Thursday, March 31, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,685.09	▼	-31.57	▼	-0.18%		
	Nasdaq____	4,869.85	▲	0.55	▲	0.01%		
	S&P_500___	2,059.74	▼	-4.21	▼	-0.20%		
	30_Yr_Bond____	2.62	▼	-0.04	▼	-1.39%		

NYSE Volume	 3,714,051,250 	 	 	 	 	  		 
Nasdaq Volume	 1,692,812,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,174.90	▼	-28.27	▼	-0.46%		
	DAX_____	9,965.51	▼	-81.10	▼	-0.81%		
	CAC_40__	4,385.06	▼	-59.36	▼	-1.34%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,151.80	▲	70.30	▲	1.38%		
	Shanghai_Comp	3,003.92	▲	3.27	▲	0.11%		
	Taiwan_Weight	8,744.83	▲	7.79	▲	0.09%		
	Nikkei_225___	16,758.67	▼	-120.29	▼	-0.71%		
	Hang_Seng.__	20,776.70	▼	-26.69	▼	-0.13%		
	Strait_Times.__	2,840.90	▼	-31.88	▼	-1.11%		
	NZX_50_Index_	6,752.42	▲	38.26	▲	0.57%		

http://finance.yahoo.com/news/tranquil-start-last-trading-day-142059873.html#

*Stocks slip, ending a turbulent quarter on a quiet note*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” Stocks closed mostly lower on Thursday, with chemicals and agricultural companies taking the largest losses. The price of gold continued its long surge. Trading was quiet on the final day of a stormy first quarter that produced surprising gains.

Indexes were little changed for most of the day, then gradually slid from small gains to small losses in the afternoon. A shaky industry outlook hurt agriculture, fertilizer and farm equipment companies.

Gold prices inched higher to complete their biggest quarterly gain in almost 30 years. The Dow Jones industrial average and Standard & Poor's 500 index, both of which were down more than 10 percent last month, finished the quarter higher.

At the start of this year, investors seemed eager to turn the page on 2015. But the market plunged as investors feared for the health of the global economy. Tobias Levkovich, chief U.S. Equity Strategist for Citi Investment Research, said investors bought traditionally defensive stocks as the market fell, including health care companies and companies that make consumer goods. Then stocks rallied, and many of those companies suffered while energy companies and others recovered.

"If you're an institutional investor you probably got way too defensive in January, you suffered on the way down and you've suffered on the way up," he said. "The market may have recovered, but a lot of people haven't, in their portfolios."

The Dow fell 31.57 points, or 0.2 percent, to 17,685.09. The S&P 500 shed 4.21 points, or 0.2 percent, to 2,059.74 The Nasdaq composite index rose 0.55 points to 4,869.85.

Agricultural companies slumped following disappointing quarterly results and a shaky outlook from irrigation company Lindsay. Agricultural giant Monsanto lost $3.35, or 3.7 percent, to $87.74. Fertilizer maker Mosaic fell $1.12, or 4 percent, to $27. Equipment maker Deere shed $3.13, or 3.9 percent, to $76.99.

The price of gold rose $7.30, or 0.6 percent, to $1,234.20 an ounce. In the first quarter gold rose 16 percent, its largest gain in any quarter since 1986, going higher because of concerns about the health of the global economy, central bank policies, and, more recently, because the U.S. dollar has started to weaken after years of gains. Gold had fallen for six quarters in a row.

The price of silver rose 25 cents, or 1.7 percent, to $15.46 an ounce. Copper lost 1 cent to $2.18 a pound.

Stocks tumbled in January and early February on concerns that weak growth in several major global economies would pull the U.S. economy into recession. In early February, the Dow average and the S&P 500 index were down more than 10 percent from the start of the year. Stocks roared back in March as investors were encouraged by positive economic news in the U.S. and central bank moves around the world to stimulate economic growth.

The Dow finished the quarter up 1.5 percent and the S&P 500 made a 0.8 percent gain. The Nasdaq lost 2.8 percent.

IBM rose $3.04, or 2 percent, to $151.45 after the company said it will expand its business services division by buying Bluewolf Group, which provides cloud consulting and implementation services. IBM didn't disclose terms. Over the last few months IBM agreed to buy Truven Health Analytics to strengthen the health care capabilities of its Watson cognitive computing system, and it bought the data, technology and websites of the Weather Company, which owns the Weather Channel.

Benchmark U.S. crude rose 2 cents to $38.34 per barrel in New York. Brent crude, used to price international oils, added 34 cents, or 0.9 percent, to $39.60 a barrel in London.

Electric car maker Tesla rose $2.88, or 1.3 percent, to $229.77. On Thursday the company unveiled its lower-priced Model 3 car. It costs less than half as much as Tesla's earlier cars, and is expected to have about twice as much range as other electric cars that are in a similar price category.

Watchmaker Movado lost $2.81, or 9.3 percent, to $27.53 after its profit and sales forecasts for 2016 fell short of analyst estimates.

The federal government said more Americans filed for unemployment benefits last week, but the number of applications remains very low, a sign that hiring is solid. About 276,000 people filed for those benefits, up 11,000 from the week before. The government will release March employment data on Friday.

With the first quarter over, companies will start reporting their results on April 11. Analysts expect earnings for the companies on the S&P 500 to fall more than 7 percent, according to S&P Capital IQ. The main reason is the energy sector, which is expected to post broad losses because the price of oil has plunged.

Earnings also fell in the last two quarters, but are expected to improve later this year and finish a little higher in 2016. That would be the second straight year of very slow earnings growth.

Bond prices continued to rise. The yield on the 10-year U.S. Treasury note dipped to 1.77 percent from 1.83 percent. The dollar inched up to 112.53 yen from 112.47 yen. The euro rose to $1.1387 from $1.1333.

In other energy trading, wholesale gasoline dipped 1 cent to $1.43 a gallon. Heating oil rose two cents, or 2 percent, to $1.18 a gallon. Natural gas fell 4 cents, or 1.9 percent, to $1.96 per 1,000 cubic feet.

Stocks in Europe retreated after Wednesday's surge. France's CAC-40 fell 1.3 percent and Germany's DAX declined 0.8 percent. In London the FTSE 100 index was off 0.5 percent. Tokyo's Nikkei 225 fell 0.7 percent and the Hang Seng in Hong Kong retreated 0.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	107.66	points or ▲	0.61%	on	Friday, April 1, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,792.75	▲	107.66	▲	0.61%		
	Nasdaq____	4,914.54	▲	44.69	▲	0.92%		
	S&P_500___	2,072.78	▲	13.04	▲	0.63%		
	30_Yr_Bond____	2.62	▲	0.00	▲	0.00%		

NYSE Volume	 3,749,428,250 	 	 	 	 	  		 
Nasdaq Volume	 1,713,044,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,146.05	▼	-28.85	▼	-0.47%		
	DAX_____	9,794.64	▼	-170.87	▼	-1.71%		
	CAC_40__	4,322.24	▼	-62.82	▼	-1.43%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,073.80	▼	-78.00	▼	-1.51%		
	Shanghai_Comp	3,009.53	▲	5.61	▲	0.19%		
	Taiwan_Weight	8,657.55	▼	-87.28	▼	-1.00%		
	Nikkei_225___	16,164.16	▼	-594.51	▼	-3.55%		
	Hang_Seng.__	20,498.92	▼	-277.78	▼	-1.34%		
	Strait_Times.__	2,818.49	▼	-22.41	▼	-0.79%		
	NZX_50_Index_	6,708.02	▼	-44.40	▼	-0.66%		

http://finance.yahoo.com/news/us-stocks-edge-mostly-lower-142412339.html#

*US stocks jump after solid March jobs report*
Associated Press By MARLEY JAY

NEW YORK (AP) — U.S. stocks climbed Friday after the government said job growth continued at a strong clip in March. Makers of consumer goods and household products rose, and health care companies rebounded. The solid employment report helped U.S. stocks stay out of a steep global decline.

Early in the day stocks tumbled along with the prices of oil and precious metals, but they recovered in the afternoon and finished at their highest levels of the day. The Labor Department's monthly jobs report showed that employers added 215,000 jobs last month, a sign the economy isn't slowing down. Energy companies took big losses. Hotel companies and airlines both tumbled.

The jobs report was a bit stronger than investors expected but was consistent with hiring over the last few years. That shows employers are confident enough to add staff even though overall economic growth has slowed down. More people also looked for work and wages edged higher.

Kate Warne, investment strategist for Edward Jones, said the report shows the U.S. economy is staying on track and growth remains steady in spite of all the stock market turmoil this year.

"That means more spending on everything from housing to McDonald's," she said. "It's one more confirmation that the worries from earlier in the year really weren't warranted."

The Dow Jones industrial average rose 107.66 points, or 0.6 percent, to 17,792.75. The Standard & Poor's 500 index added 13.04 points, or 0.6 percent, to 2,072.78. The Nasdaq composite index gained 44.69 points, or 0.9 percent, to 4,914.54. Stocks haven't made many sharp moves in recent weeks, but have drifted gradually higher.

Consumer companies rose. Procter & Gamble, which makes Pampers diapers, Tide detergent and Olay beauty products, gained $1.22, or 1.5 percent, to $83.53. Drugstore chain Walgreens rose $2.46, or 2.9 percent, to $86.70. Mondelez, the maker of Oreo cookies and Trident gum, added $1.12, or 2.8 percent, to $41.24.

Energy prices dropped as investors became more pessimistic about the fate of a proposed deal for major oil-producing nations to reduce production. That would help address a gigantic glut in global supplies, which has hurt prices. U.S. crude fell $1.55, or 4 percent, to $36.79 a barrel in New York. Brent crude, the benchmark for pricing international oils, gave up $1.66, or 4.1 percent, to $38.67 a barrel in London.

Marathon Oil retreated 70 cents, or 6.3 percent, to $10.44 and Diamond Offshore Drilling lost 76 cents, or 3.5 percent, to $20.97.

In an abrupt reversal, a consortium led by Anbang Insurance Group ended its effort to buy Starwood Hotels & Resorts. The group had offered to buy Starwood for $15 billion, which surpassed a $14 billion offer from the competing Marriott chain. The consortium said it withdrew its offer because of market conditions. Starwood had accepted a $14 billion offer from Marriott but said Monday that Anbang's bid was probably better.

Starwood fell $4.05, or 4.9 percent, to $79.38 and Marriott lost $4.04, or 5.7 percent, to $67.14. Starwood and Marriott would become the biggest hotel chain in the world, and competing hotel companies also fell. Hilton shed 51 cents, or 2.3 percent, to $22.01.

Regeneron Pharmaceuticals made its biggest gain in four years after an eczema drug it is developing with Sanofi met its goals in a late-stage clinical trial. The stock surged $44.81, or 12.4 percent, to $405.25, leading a recovery in drugmaking stocks. Biotechnology companies including Amgen and Gilead Sciences also traded higher.

Tesla Motors gained $7.82, or 3.4 percent, to $237.59 after the electric car company said it received a flood of orders for Model 3, the new, lower-priced vehicle it announced on Thursday. On Twitter, CEO Elon Musk said the company has booked 198,000 orders.

Other automakers fell even though most companies reported strong monthly sales. People keep buying cars and trucks in big numbers, but discounts are jumping. So are sales to rental car companies, which bring in smaller profits. Ford lost 40 cents, or 3 percent, to $13.10 and General Motors declined 96 cents, or 3.1 percent, to $30.47.

Airlines fell after an analyst warned that companies may slash their business travel. Michael Linenberg of Deutsche Bank said U.S. corporate profits are getting squeezed, and he downgraded Delta, United Continental, American Airlines and Hawaiian. United Continental dipped $3.14, or 5.2 percent, to $56.72 and Delta fell $1.67, or 3.4 percent, to $47.01. American sank $1.49, or 3.6 percent, to $39.52.

Gold fell $12.10, or 1 percent, to $1,223.50 an ounce. Silver dropped 42 cents, or 2.7 percent, to $15.05 an ounce. Copper lost two cents to $2.16 a pound.

Retailer Urban Outfitters disclosed strong sales at its older stores, and the stock added $1.20, or 3.6 percent, to $34.29. Urban Outfitters is the best-performing stock on the S&P 500 index this year, as its value has climbed 51 percent.

In other energy trading, wholesale gasoline fell 5 cents, or 3 percent, to $1.40 a gallon. Heating oil slid 5 cents, or 4.5 percent, to $1.13 a gallon. Natural gas was little changed at $1.96 per 1,000 cubic feet.

Stocks overseas tumbled. Germany's DAX lost 1.7 percent and the CAC-40 in France tumbled 1.4 percent, and in Britain, the FTSE 100 lost 0.5 percent. Tokyo's Nikkei 225 sank 3.6 percent, while South Korea's Kospi fell 1.1 percent. Hong Kong's Hang Seng index declined 1.3 percent. Asian markets were hit by weak economic reports from Japan. The nations' big exporters have been hit by a double whammy of a slowing Chinese economy and a rising yen.

Bond prices didn't move much. The yield on the 10-year U.S. Treasury note held steady at 1.77 percent. The dollar fell to 111.73 yen from 112.53 yen, while the euro rose to $1.1392 from $1.1387.

4590


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-55.75	points or ▼	-0.31%	on	Monday, April 4, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,737.00	▼	-55.75	▼	-0.31%		
	Nasdaq____	4,891.80	▼	-22.75	▼	-0.46%		
	S&P_500___	2,066.13	▼	-6.65	▼	-0.32%		
	30_Yr_Bond____	2.61	▼	-0.01	▼	-0.34%		

NYSE Volume	 3,467,860,750 	 	 	 	 	  		 
Nasdaq Volume	 1,626,008,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,164.72	▲	18.67	▲	0.30%		
	DAX_____	9,822.08	▲	27.44	▲	0.28%		
	CAC_40__	4,345.22	▲	22.98	▲	0.53%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,070.10	▼	-3.70	▼	-0.07%		
	Shanghai_Comp	3,009.53	▲	5.61	▲	0.19%		
	Taiwan_Weight	8,657.55	▼	-87.28	▼	-1.00%		
	Nikkei_225___	16,123.27	▼	-40.89	▼	-0.25%		
	Hang_Seng.__	20,498.92	▼	-277.78	▼	-1.34%		
	Strait_Times.__	2,836.20	▲	17.71	▲	0.63%		
	NZX_50_Index_	6,743.60	▲	35.58	▲	0.53%		

http://finance.yahoo.com/news/us-stock-indexes-narrowly-mixed-141225894.html

*US stocks end slightly lower in quiet trading*
Associated Press By KEN SWEET

NEW YORK (AP) ”” U.S. stocks fell slightly in quiet trading Monday as investors worked through several company announcements and prepared for the start of company earnings releases.

Health care companies were solidly higher. Global markets rose modestly.

The Dow Jones industrial average lost 55.75 points, or 0.3 percent, to 17,737. The Standard & Poor's 500 index lost 6.65 points, or 0.3 percent, to 2,066.13 and the Nasdaq composite lost 22.75 points, or 0.5 percent, to 4,891.80.

While stocks have recovered most their losses from earlier in the year, investors remain somewhat pessimistic about the market in the near term, especially ahead of the quarterly earnings reporting season, which unofficially beings next week with results from aluminum mining company Alcoa.

Profits of companies in the S&P 500 are expected to drop 8.5 percent from a year ago, according to data from FactSet, with most of that decline coming from the oil and gas sector.

This is despite the continually positive economic reports out of the U.S., including last week's jobs numbers and manufacturing data.

"While the economic fundamentals are good, investor sentiment is still quite negative," said Samantha Azzarello, a global market strategist at J.P. Morgan Funds.

The low expectations for company earnings mean that stock values remain relatively high. Investors are paying roughly $18.63 for every dollar of earnings in the S&P 500, well above the $14 to $15 they typically pay.

"You're going to need a big improvement in companies' results for stocks to move higher," said Kristina Hooper, head of U.S. investment strategies at Allianz Global Investors.

Stocks were not as impacted by a noticeable drop in oil prices on Monday, continuing a trend that started last week. Benchmark U.S. crude fell $1.09, or 3 percent, $35.70 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, lost 98 cents to $37.69 a barrel in London.

Weeks earlier, a sharp drop in oil prices could have reverberated far more greatly on the stock market. Azzarello says the breakdown in oil's influence on stocks could ultimately be a good thing.

"The market just had to work itself out," Azzarello said.

In individual company news, Virgin America jumped $16.20, or 42 percent, to $55.11 after the company agreed to be bought by Alaska Air Group. Shares of Alaska Air fell $3.09, or 4 percent, to $78.92. JetBlue, which had bid for Virgin as well, fell 92 cents, or 4.3 percent, to $20.41.

Tesla Motors rose $9.40, or 4 percent, to $246.99 after the company announced it had received 276,000 preorders for its highly anticipated Model 3, which is to be unveiled on Thursday.

Bond prices rose slightly. The yield on the 10-year Treasury note fell to 1.76 percent from 1.77 percent. The euro was mostly unchanged at $1.1397 while the dollar fell to 111.26 yen from 111.73 yen.

In other energy markets, heating oil fell 4 cents to $1.089 a gallon, wholesale gasoline futures fell 2 cents to $1.377 a gallon and natural gas rose 4 cents to $1.998 per thousand cubic feet.

In the metals markets, gold fell $4.20 to $1,219.30 an ounce, silver fell 10 cents to $14.94 an ounce and copper fell 2 cents to $2.14 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-133.68	points or ▼	-0.75%	on	Tuesday, April 5, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,603.32	▼	-133.68	▼	-0.75%		
	Nasdaq____	4,843.93	▼	-47.86	▼	-0.98%		
	S&P_500___	2,045.17	▼	-20.96	▼	-1.01%		
	30_Yr_Bond____	2.55	▼	-0.06	▼	-2.37%		

NYSE Volume	 4,155,850,000 	 	 	 	 	  		 
Nasdaq Volume	 1,653,990,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,091.23	▼	-73.49	▼	-1.19%		
	DAX_____	9,563.36	▼	-258.72	▼	-2.63%		
	CAC_40__	4,250.28	▼	-94.94	▼	-2.18%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,000.40	▼	-69.70	▼	-1.37%		
	Shanghai_Comp	3,053.07	▲	43.54	▲	1.45%		
	Taiwan_Weight	8,657.55	▼	-87.28	▼	-1.00%		
	Nikkei_225___	15,732.82	▼	-390.45	▼	-2.42%		
	Hang_Seng.__	20,177.00	▼	-321.92	▼	-1.57%		
	Strait_Times.__	2,800.92	▼	-34.43	▼	-1.21%		
	NZX_50_Index_	6,715.81	▼	-27.79	▼	-0.41%		

http://abcnews.go.com/Business/wireStory/stocks-open-lower-us-disney-slumps-exec-leaves-38162033

*Stocks End Lower in US; Disney Slumps After Exec Leaves*
    By ken sweet, ap business writer
NEW YORK ”” Apr 5, 2016,

 U.S. stocks fell for a second day on Tuesday, as the head of the International Monetary Fund sounded downbeat on the outlook for the world economy.

Disney fell after the company's expected successor to CEO Bob Iger announced he was leaving the company. Allergan plunged after the Treasury Department announced tax rules that would make its merger with Pfizer more difficult.

The Dow Jones industrial average fell 133.68 points, or 0.8 percent, to 17,603.32. The Standard & Poor's 500 index lost 20.96 points, or 1 percent, to 2,045.17 and the Nasdaq composite fell 47.86 points, or 1 percent, to 4,843.93.

Stocks opened lower and remained down all day. Investors moved into traditional areas of safety, including gold and U.S. government bonds. The market is coming off a multi-week rally that erased nearly all of its losses from earlier in the year.

The yield on the 10-year Treasury note fell to 1.72 percent from 1.76 percent. Gold rose $10.30 to $1,229.60 an ounce.

After last month's big rally, investors are waiting to see how quarterly results from companies come in. Earnings season starts next week with Alcoa, the aluminum company, as well as the big banks like JPMorgan Chase.

"The market has been expected this quarter's earnings to be lousy so if earnings come in better than expected, it might provide some support to the market," said Scott Wren, senior global equity strategist at the Wells Fargo Investment Institute.

Christine Lagarde, the head of the IMF, warned in a speech that "the recovery remains too slow, too fragile." She said the world economy isn't in a crisis but that slow growth risks becoming ingrained as a "new mediocre." She noted the outlook for the next six months has weakened, suggesting the IMF may be revising its forecasts lower.

Lagarde's comments helped cause European and Asian markets to close broadly lower. Japan's benchmark Nikkei 225 index lost 2.4 percent, hit hard by a rise in the yen. South Korea's Kospi fell 0.8 percent and Hong Kong's Hang Seng sank 1.6 percent. In Europe, Germany's DAX fell 2.6 percent, France's CAC-40 fell 2.2 percent and the U.K.'s FTSE 100 fell 1.2 percent.

Among individual companies, Allergan fell $41, or 15 percent, to $236.55. The U.S. Treasury Department announced new tax rules to discourage what are known as corporate inversions, which is when a U.S. company mergers with a foreign company for tax purposes. Allergan was currently in the process of doing an inversion with U.S. drug giant Pfizer. Shares of Pfizer rose 64 cents, or 2.1 percent, to $31.36.

Disney fell $1.68, or 1.7 percent, to $97. The media giant said late Monday that Tom Staggs, the heir apparent to the company's current CEO, would depart. Iger said he plans to retire in 2018.

Benchmark U.S. crude edged up 19 cents to close at $35.89 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, rose 18 cents to close at $37.87 a barrel in London.

The euro inched down to $1.1385 from $1.1397, while the dollar fell to 110.49 yen from 111.26 yen.

In other energy commodities, heating oil fell 1 cent to $1.075 a gallon, wholesale gasoline was unchanged at $1.378 a gallon and natural gas fell 4 cents to $1.954 per thousand cubic feet.

In other metals trading, silver rose 17 cents to $15.12 an ounce and copper fell less than 1 cent to $2.138 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	112.73	points or ▲	0.64%	on	Wednesday, April 6, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,716.05	▲	112.73	▲	0.64%		
	Nasdaq____	4,920.72	▲	76.78	▲	1.59%		
	S&P_500___	2,066.66	▲	21.49	▲	1.05%		
	30_Yr_Bond____	2.58	▲	0.03	▲	1.33%		

NYSE Volume	 3,722,657,250 	 	 	 	 	  		 
Nasdaq Volume	 1,688,386,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,161.63	▲	70.40	▲	1.16%		
	DAX_____	9,624.51	▲	61.15	▲	0.64%		
	CAC_40__	4,284.64	▲	34.36	▲	0.81%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,024.60	▲	24.20	▲	0.48%		
	Shanghai_Comp	3,050.59	▼	-2.47	▼	-0.08%		
	Taiwan_Weight	8,513.30	▼	-144.25	▼	-1.67%		
	Nikkei_225___	15,715.36	▼	-17.46	▼	-0.11%		
	Hang_Seng.__	20,206.67	▲	29.67	▲	0.15%		
	Strait_Times.__	2,811.25	▲	10.33	▲	0.37%		
	NZX_50_Index_	6,734.27	▲	18.46	▲	0.27%		

http://finance.yahoo.com/news/us-stocks-edge-mostly-higher-141440669.html

*US stocks rise as health care and energy companies soar*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” U.S. stocks broke a two-day losing streak Wednesday as investors bought up drugmakers and other health care companies. Energy companies also jumped as the price of oil surged.

Biotech drug companies, which have been mired in a long slide, made their biggest gains in almost five years. That came after Pfizer, one of the largest pharmaceutical companies in the world, gave up on a plan to buy Botox maker Allergan for $160 billion and investors wondered if it will look elsewhere.

The gains were only enough to wipe out most of the market's losses from a day earlier. Stocks wavered in recent weeks as investors wait for quarterly earnings to start pouring in, and many are bracing for another shaky quarter.

Jack Ablin, chief investment officer of BMO Private Bank, said it's going to be another weak earnings period, and the only way stocks will trade much higher is if companies are able to give optimistic projections for the rest of the year.

"Without an improvement in earnings or a projection of earnings growth, our outlook is kind of tapped out," he said.

The Dow Jones industrial average gained 112.73 points, or 0.6 percent, to 17,716.05. The Standard & Poor's 500 index rose 21.49 points, or 1.1 percent, to 2,066.66. The Nasdaq composite index picked up 76.78 points, or 1.6 percent, to 4,902.72.

Pfizer and Allergan confirmed Wednesday that they are walking away from their proposed merger after the U.S. Treasury Department announced new rules that made the deal, and others like it, far less appealing. Pfizer rose $1.57, or 5 percent, to $32.93, its biggest gain since 2011.

Pfizer was ready to make one of the largest corporate deals in history for Allergan as it tried to boost its sales and cut its tax bill. Biotechnology companies, which make complex and costly drugs, climbed higher. Celgene, which makes treatments for cancer, gained $6.10, or 6 percent, to $108.22. Vertex Pharmaceuticals rose $7.15, or 8.5 percent, to $91.31.

Biotech stocks are facing pressure from legislators over the price of their drugs, and investors fear that their ability to raise prices will be impeded.

Energy companies gained ground as benchmark U.S. crude rose $1.86, or 5.2 percent, to close at $37.75 a barrel in New York. Brent crude, a benchmark for international oils, added $1.97, or 5.2 percent, to close at $39.84 a barrel in London. The price of oil has skidded in recent days before making small gains Tuesday.

Chevron picked up $2.17, or 2.3 percent, to $94.84 and Exxon Mobil added $1.10, or 1.3 percent, to $83.31. Hess rose $2.74, or 5.3 percent, to $54.

Oilfield services companies Halliburton and Baker Hughes also traded higher after the U.S. government sued to block them from combining. Halliburton had agreed to buy its rival for more than $34 billion in November 2014, after oil prices began to fall. Baker Hughes gained $3.47, or 8.8 percent, to $42.83. Halliburton climbed $2.04, or 5.9 percent, to $36.44.

While the pace of company earnings will climb next week, a few companies made big moves Wednesday after they disclosed their results. Constellation Brands, the owner of Corona, Negra Modelo and Pacifico beers, reported solid quarterly results and raised its profit forecasts for the year. Its stock rose $8.98, or 5.9 percent, to $160.34.

Electronic payment processing company Global Payments gained $5.71, or 8.8 percent, to $70.86 after it posted strong quarterly results.

Lighting maker Cree said its sales will fall far short of expectations because of new product delays and software problems. The company said it may take a loss in the third quarter. Its stock lost $4.24, or 14.6 percent, to $24.81.

Ablin of BMO Private Bank said he thinks companies with a long history of maintaining or raising their dividends will do the best in the weeks and months to come. Telecommunications companies pay some of the biggest dividends on the market, and they slumped Wednesday as AT&T and Verizon prepared to pay out billions of dollars in dividends.

Harley-Davidson took the biggest loss on the S&P 500, as it gave up $3.50, or 7 percent, to $46.34. Analyst John Tomlinson of ITG Investment Research said he thinks the motorcycle company lost market share over the first three months of this year, and said he thinks its retail sales in the U.S. will drop in the first quarter.

In metals trading, the price of gold fell $5.80 to $1,223.80 an ounce. Silver declined six cents to $15.05 an ounce. Copper inched up less than one cent to $2.14 a pound.

In other energy trading, wholesale gasoline rose two cents to $1.39 a gallon. Heating oil jumped almost seven cents to $1.14 a gallon. Natural gas fell four cents to $1.91 per 1,000 cubic feet.

Stocks in Europe also gained ground. Britain's FTSE 100 rose 1.2 percent and the CAC 40 in France added 0.8 percent. Germany's DAX rose 0.6 percent. Japan's Nikkei 225 closed 0.1 percent lower and the Hang Seng index in Hong Kong picked up 0.2 percent. South Korea's KOSPI finished 0.4 percent higher.

Bond prices fell. The yield on the 10-year U.S. Treasury note rose to 1.76 percent from 1.72 percent. The U.S. dollar dipped to 109.62 yen from 110.49 yen. The euro rose to $1.1410 from $1.1385.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-174.09	points or ▼	-0.98%	on	Thursday, April 7, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,541.96	▼	-174.09	▼	-0.98%		
	Nasdaq____	4,848.37	▼	-72.35	▼	-1.47%		
	S&P_500___	2,041.91	▼	-24.75	▼	-1.20%		
	30_Yr_Bond____	2.52	▼	-0.07	▼	-2.59%		

NYSE Volume	 3,799,145,750 	 	 	 	 	  		 
Nasdaq Volume	 1,831,308,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,136.89	▼	-24.74	▼	-0.40%		
	DAX_____	9,530.62	▼	-93.89	▼	-0.98%		
	CAC_40__	4,245.91	▼	-38.73	▼	-0.90%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,042.30	▲	17.70	▲	0.35%		
	Shanghai_Comp	3,008.42	▼	-42.17	▼	-1.38%		
	Taiwan_Weight	8,490.25	▼	-23.05	▼	-0.27%		
	Nikkei_225___	15,749.84	▲	34.48	▲	0.22%		
	Hang_Seng.__	20,266.05	▲	59.38	▲	0.29%		
	Strait_Times.__	2,813.59	▲	2.34	▲	0.08%		
	NZX_50_Index_	6,755.23	▲	20.96	▲	0.31%		

http://finance.yahoo.com/news/us-stocks-skid-early-trading-oil-prices-slip-141600354--finance.html#

*US stocks go through broad slump led by banks*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” U.S. stocks sunk to their biggest loss in a month and a half Thursday as banks and technology companies tumbled. Interest rates moved lower, hurting financial stocks. The dollar continued to fall compared to the Japanese yen. Stocks have fallen three out of four days this week.

Stocks sharply reversed course after their gains a day ago. Financial companies including Goldman Sachs and Citigroup took the largest losses. Technology and telecommunications companies also fell.

The market has lost momentum over the last few weeks after a furious rally that wiped out most of its losses from early 2016. Scott Wren, senior global equity strategist for Wells Fargo's Investment Institute, said stocks are rising and falling based on how investors expect the global economy to do.

"People are worried about growth today," he said. "You're not getting much more than modest economic activity."

The Dow Jones industrial average fell 174.09 points, or 1 percent, to 17,541.96. The Standard & Poor's 500 index shed 24.75 points, or 1.2 percent, to 2,041.91. The Nasdaq composite index lost 72.35 points, or 1.5 percent, to 4,848.37.

Financial companies fell sharply. Goldman Sachs slid $4.78, or 3.1 percent, to $150.41 and Citigroup lost $1.59, or 3.8 percent, to $40.27 while JPMorgan Chase dipped $1.49, or 2.5 percent, to $57.32. Wren said banks are struggling because economic growth is sluggish and interest rates remain low, which means they can't make as much money from lending.

"Interest rates aren't going to do what banks really need them to do," he said.

eBay led tech stocks lower as it fell $1.33, or 5.2 percent, to $24.10 and Apple gave up $2.42, or 2.2 percent, to $108.54. Telecommunications companies continued to struggle. Verizon fell $1.52, or 2.8 percent, to $52.

Wynn Resorts jumped $10.44, or 11.7 percent, to $99.99 after the hotel and casino company proposed a new development. Wynn said it wants to build a recreational lake and hotel behind its Wynn Las Vegas property.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 1.69 percent from 1.76 percent. The dollar continued to weaken against the yen, and is now at its lowest compared to the yen in almost a year and a half. On Thursday it fell to 108.24 yen from 109.62 yen. The euro declined to $1.1377 from $1.1410.

Benchmark U.S. crude fell 49 cents, or 1.3 percent, to $37.26 per barrel in New York. Brent crude, used to price international oils, dropped 41 cents to $39.43 a barrel in London.

Wholesale club operator Costco declined after the company disclosed its March sales. Its stock fell $4.74, or 3 percent, to $152.03. Retailer Ollie's Bargain Outlet Holdings traded higher after it announced solid quarterly results. The stock climbed $2.34, or 10.3 percent, to $25.04.

HanesBrands said it will buy Champion Europe. HanesBrands owns Champion and the deal gives it control of a company that owned the Champion trademark in Europe as well as the Middle East and Africa. It recently made a similar deal in Japan unit as well. The underwear, T-shirt and sock maker's stock added 77 cents, or 2.8 percent, to $27.87.

ConAgra Foods added 66 cents, or 1.5 percent, to $46.09. The maker of Chef Boyardee, Hebrew National hot dogs and other packaged foods reported third-quarter profit and sales were stronger than expected.

Used car dealership chain CarMax reported strong fourth-quarter results, but its stock lost $3.81, or 7.1 percent, to $49.48. The company said it faced a tougher sales environment in the second half of the fiscal year.

The price of gold rose $13.70 or 1.1 percent, to settle at $1,237.50 an ounce and silver gained 10 cents to $15.16 an ounce. Copper plunged seven cents, or 3.1 percent, to $2.08 a pound.

In other energy trading, wholesale gasoline fell 1 cent to $1.38 a gallon. Heating oil slipped 1 cent to $1.13 a gallon. Natural gas rose 11 cents, or 5.6 percent, to $2.02 per 1,000 cubic feet.

The Labor Department said applications for unemployment benefits fell slightly last week. That shows employers aren't slashing jobs even though there are signs economic growth is weak.

Germany's DAX fell 1 percent and the CAC-40 in France shed 0.9 percent. Britain's FTSE 100 lost 0.4 percent. In Tokyo, the Nikkei 225 advanced 0.2 percent and Hong Kong's Hang Seng added 0.3 percent. In South Korea, the Kospi added 0.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	35	points or ▲	0.20%	on	Friday, April 8, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,576.96	▲	35.00	▲	0.20%		
	Nasdaq____	4,850.69	▲	2.32	▲	0.05%		
	S&P_500___	2,047.60	▲	5.69	▲	0.28%		
	30_Yr_Bond____	2.56	▲	0.04	▲	1.59%		

NYSE Volume	 3,356,480,250 	 	 	 	 	  		 
Nasdaq Volume	 1,518,630,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,204.41	▲	67.52	▲	1.10%		
	DAX_____	9,622.26	▲	91.64	▲	0.96%		
	CAC_40__	4,303.12	▲	57.21	▲	1.35%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,018.00	▼	-24.30	▼	-0.48%		
	Shanghai_Comp	2,984.96	▼	-23.46	▼	-0.78%		
	Taiwan_Weight	8,541.50	▲	51.25	▲	0.60%		
	Nikkei_225___	15,821.52	▲	71.68	▲	0.46%		
	Hang_Seng.__	20,370.44	▲	104.39	▲	0.52%		
	Strait_Times.__	2,808.32	▼	-5.27	▼	-0.19%		
	NZX_50_Index_	6,730.28	▼	-24.95	▼	-0.37%		

http://finance.yahoo.com/news/us-stocks-jump-following-another-142529904.html#

*Indexes inch higher as oil prices jump, but retailers skid*
Associated Press By MARLEY JAY

NEW YORK (AP) — A surge in the price of oil sent energy companies higher on Friday, but U.S. stocks got only a small boost overall as retailers suffered big losses.

tocks rose in morning trading as oil prices climbed, and the Dow Jones industrial average jumped more than 150 points early on. Retailers skidded as investors worried about reports from Gap and L Brands. Biotech drugmakers returned some of their gains from earlier in the week.

Oil prices climbed about 7 percent this week as the dollar got weaker. The price of oil has seesawed as investors hope energy producing companies will cut production. Experts aren't sure the gains will last.

"If this fizzles out in a week or so I think you could see oil prices roll over," said Steve Chiavarone, associated portfolio manager for Federated Investors.

The Dow picked up 35 points, or 0.2 percent, to 17,576.96. The Standard & Poor's 500 index rose 5.69 points, or 0.3 percent, to 2,047.60. The Nasdaq composite index eked out a gain of 2.32 points, or less than 0.1 percent, to 4,850.69.

Benchmark U.S. crude rose $2.46, or 6.6 percent, to $39.72 a barrel in New York. Brent crude, used to price international oils, gained $2.51, or 6.4 percent, to $41.94 a barrel in London.

ConocoPhillips picked up 92 cents, or 2.3 percent, to $41.23 and Murphy Oil advanced $1.25, or 5.1 percent, to $25.69.

Oil prices recovered this week, and Chiavarone said that's partly because the Federal Reserve is stressing that it will raise interest rates slowly. That makes the dollar weaker, and investors think that means demand for oil will go up.

Gap said all three of its major chains saw their sales drop in March, and added that levels of product inventory are high, which could lead to bigger discounts that will hurt its profits. Meanwhile L Brands said it will restructure its Victoria's Secret brand and eliminate about 200 corporate jobs.

Gap plunged $3.83, or 13.8 percent, to $23.85 and L Brands stock lost $3.65, or 4.3 percent, to $80.50. The companies' statements and their losses hurt companies that sell everything from athletic apparel to handbags to watches to department store chains. Macy's gave up 94 cents, or 2.3 percent, to $39.68. Under Armour lost 87 cents, or 2 percent, to $43.54.

Analyst Simeon Siegel of Nomura Securities said Gap and L Brands both reported decent sales, and their problems don't suggest big trouble for retailers in general.

"Everything gets lumped in together," he said. He added that retail stocks have made big gains recently. "For the past few weeks we've had this incredible rally that really wasn't predicated on any results," he said.

Pain drug maker Depomed rose after activist investment firm Starboard Value disclosed a 9.8 percent stake in the company, making it one of Depomed's largest shareholders. Last year Horizon Pharma tried to buy Depomed for about $1.1 billion, or $33 per share, but Depomed fended off that effort and Horizon dropped it in November. Depomed's stock jumped $1.95, or 13 percent, to $16.95.

Biotech drugmakers retreated. Regeneron Pharmaceuticals lost $13.43, or 3.2 percent, to $404.94 and Biogen declined $2.21, or 0.8 percent, to $270.83. Those stocks logged their biggest gain in almost five years on Wednesday, but have suffered big losses since July.

Specialty glass maker Corning said it will buy optical components maker Alliance Fiber Optic Products for $18.50 per share, or $305 million. Alliance stock surged $2.99, or 19.3 percent, to $18.45. Corning dipped 13 cents to $20.53.

Ruby Tuesday tumbled 62 cents, or 11.9 percent, to $4.60. The restaurant chain's earnings were disappointing and it cut its forecasts. The company also said its chief financial officer will leave to take a job with another company.

The price of gold rose $6.30 to $1,242.50 an ounce. Silver gained 23 cents, or 1.5 percent, to $15.38 an ounce. Copper edged up 1 cent to $2.02 a pound.

Energy prices rallied in late February and march as investors hoped that major oil-producing nations will agree to freeze production levels in mid-April. But Chaivarone said they may be disappointed, and if a deal doesn't emerge, he thinks oil prices could fall back to around $30 a barrel.

In other energy trading, wholesale gasoline rose 8 cents, or 6 percent, to $1.46 a gallon. Heating oil jumped 7 cents, or 6.6 percent, to $1.20 a gallon. Natural gas slipped 3 cents to $1.99 per 1,000 cubic feet.

The yield on the 10-year U.S. Treasury note rose to 1.72 percent from 1.69 percent. The dollar rose to 108.33 yen from 108.24 yen. The euro inched up to $1.1397 from $1.1377.

Stocks in Europe rallied. France's CAC 40 rose 1.4 percent and the FTSE 100 in Britain climbed 1.1 percent. Germany's DAX added 1 percent. Japan's benchmark Nikkei 225 index finished 0.5 percent higher. South Korea's Kospi dipped 0.1 percent. Hong Kong's Hang Seng rose 0.5 percent.

5279


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-20.55	points or ▼	-0.12%	on	Monday, April 11, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,556.41	▼	-20.55	▼	-0.12%		
	Nasdaq____	4,833.40	▼	-17.29	▼	-0.36%		
	S&P_500___	2,041.99	▼	-5.61	▼	-0.27%		
	30_Yr_Bond____	2.56	▲	0.01	▲	0.23%		

NYSE Volume	 3,559,505,250 	 	 	 	 	  		 
Nasdaq Volume	 1,496,945,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,200.12	▼	-4.29	▼	-0.07%		
	DAX_____	9,682.99	▲	60.73	▲	0.63%		
	CAC_40__	4,312.63	▲	9.51	▲	0.22%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,013.20	▼	-4.80	▼	-0.10%		
	Shanghai_Comp	3,033.96	▲	49.00	▲	1.64%		
	Taiwan_Weight	8,562.59	▲	21.09	▲	0.25%		
	Nikkei_225___	15,751.13	▼	-70.39	▼	-0.44%		
	Hang_Seng.__	20,440.81	▲	70.41	▲	0.35%		
	Strait_Times.__	2,809.24	▲	0.92	▲	0.03%		
	NZX_50_Index_	6,725.11	▼	-5.17	▼	-0.08%		

http://finance.yahoo.com/news/stocks-rise-ahead-company-earnings-142333969.html

*US stock indexes waver ahead of company earnings reports*
Associated Press By KEN SWEET

NEW YORK (AP) ”” Stocks ended Monday's session mostly unchanged as investors waited for first-quarter company earnings to start rolling in. Overseas markets gained as investors hoped for more stimulus in China, the world's second-largest economy.

The Dow Jones industrial average lost 20.55 points, or 0.1 percent, to 17,556.41. The Standard & Poor's 500 index fell 5.61 points, or 0.3 percent, to 2,041.99 and the Nasdaq composite fell 17.29 points, or 0.4 percent, to 4,833.40.

First-quarter earnings reports got underway with results from aluminum mining giant Alcoa after the closing bell Monday. The company reported adjusted earnings of 7 cents a share, beating the loss of two cents per share that analysts had anticipated.

Later this week the nation's largest banks will start reporting their results, including JPMorgan Chase, Citigroup and Wells Fargo. Expectations are low for this earnings season. Analysts surveyed by FactSet expect a decline of 9.1 percent in earnings from a year earlier.

The decline in earnings is largely tied to the steep drop in the price of oil from a year ago, which has hammered the share prices of energy companies as well as their profits. Energy companies expected to report a loss this quarter. If energy was excluded from the S&P 500, earnings in the index would only be down 4.2 percent from a year ago.

Some investors have said they are looking to set aside this quarter's earnings results. Since many believe the price of oil has found a bottom, there is hope that earnings later this year will make up for the first quarter's expected dismal performance.

"There are signs we could see positive U.S. earnings surprises later this year, driven by a stabilization in oil prices and a halt in the U.S. dollar's rise," Richard Turnill, global chief investment strategist for BlackRock, wrote in a note to investors.

Overseas, investors were encouraged by economic data out of China, which showed inflation remains tame within the world's second-largest economy. Low inflation could provide a reason for Chinese officials to offer more monetary stimulus to keep the country's economy from slowing further. Asian and European markets closed mostly higher.

Benchmark U.S. crude oil rose 64 cents to close at $40.36 a barrel. Brent crude, the international benchmark, rose 89 cents to $42.83 a barrel in London.

In other individual companies, Hertz Global Holdings fell $1.11, or 11 percent, to $8.59 after the rental car company cut its full-year earnings forecast. The company said the car rental industry is suffering from too much capacity and competition.

Yahoo rose 41 cents, or 1 percent, to $36.48 after news reports said the U.K.'s Daily Mail was interested in purchasing the company. The Daily Mail confirmed the reports on Monday.

U.S. government bond prices were mostly unchanged. The yield on the 10-year Treasury note remained steady at 1.72 percent. The dollar edged lower 107.95 yen from 108.10 yen. The euro was slightly higher at $1.1409.

In other energy commodities, heating oil rose 1 cent to $1.215 a gallon, wholesale gasoline rose 4 cents to $1.508 a gallon and natural gas fell 8 cents to $1.912 per thousand cubic feet.

Precious and industrial metals prices closed higher. Gold climbed $14.20 to $1,258 an ounce, silver jumped 59 cents to $15.98 an ounce and copper edged up less than a penny to $2.09 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	164.84	points or ▲	0.94%	on	Tuesday, April 12, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,721.25	▲	164.84	▲	0.94%		
	Nasdaq____	4,872.09	▲	38.69	▲	0.80%		
	S&P_500___	2,061.72	▲	19.73	▲	0.97%		
	30_Yr_Bond____	2.61	▲	0.04	▲	1.76%		

NYSE Volume	 4,231,877,000 	 	 	 	 	  		 
Nasdaq Volume	 1,709,834,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,242.39	▲	42.27	▲	0.68%		
	DAX_____	9,761.47	▲	78.48	▲	0.81%		
	CAC_40__	4,345.91	▲	33.28	▲	0.77%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,053.70	▲	40.50	▲	0.81%		
	Shanghai_Comp	3,023.65	▼	-10.31	▼	-0.34%		
	Taiwan_Weight	8,531.18	▼	-31.41	▼	-0.37%		
	Nikkei_225___	15,928.79	▲	177.66	▲	1.13%		
	Hang_Seng.__	20,504.44	▲	63.63	▲	0.31%		
	Strait_Times.__	2,814.65	▲	5.41	▲	0.19%		
	NZX_50_Index_	6,726.01	▲	0.90	▲	0.01%		

http://abcnews.go.com/Business/wireStory/stocks-eke-modest-gains-focus-turns-us-earnings-38332147

*US Stocks Rise Broadly, Led by Gains in the Energy Sector*
    By ken sweet, ap business writer
NEW YORK ”” Apr 12, 2016,

 Stocks posted solid gains on Tuesday, led by energy companies after news reports said Saudi Arabia and Russia were working toward an agreement to cut oil production. Investors also worked through the initial batch of earnings from the first quarter of the year.

The Dow Jones industrial average rose 164.84 points, or 0.9 percent, to 17,721.25. The Standard & Poor's 500 index climbed 19.73 points, or 1 percent, to 2,061.72 and the Nasdaq composite increased 38.69 points, or 0.8 percent, to 4,872.09.

Corporate earnings got underway on a weak note after Alcoa, the aluminum mining giant, reported a 15 percent decline in revenue late Monday. Alcoa also had a huge drop in first-quarter profit from a year earlier as aluminum prices fell. Alcoa's stock fell 26 cents, or 2.7 percent, to $9.48.

Later this week big U.S. banks will start releasing their results, including JPMorgan Chase, Citigroup and Wells Fargo. Investors will be watching the banks to see how well they've weathered the market's recent volatility and low oil prices earlier this year. Banks are often seen as a proxy for how the U.S. economy is doing.

"It's not going to be a clean earnings season for financials at all," said Peter Stournaras, a portfolio manager at BlackRock. "The banks have suffered from fears about oil loans, but those fears are overblown."

Expectations for earnings are low this quarter. Analysts surveyed by FactSet expect corporate profits to be down 9.1 percent from a year ago, hurt primarily by the steep drop in oil prices and other commodities. The entire energy sector is expected to report a loss this quarter, according to FactSet.

"Earnings will paint an important picture over the next few weeks, but the more important story is the continued improvement in the macroeconomic environment here in the U.S. and globally," said Ryan Larson, head of U.S. equity trading at RBC Global Asset Management in Chicago.

Oil prices moved sharply higher after Russian officials told Interfax, the Russian news agency, that they planned to reach a deal with Saudi Arabia to cut oil production. OPEC ministers meet this Sunday in Doha, Qatar.

Benchmark U.S. crude oil climbed $1.81, or 4.5 percent, at $42.17 a barrel in New York. Brent crude, the international standard, rose $1.86 to $44.69 a barrel in London.

Energy stocks, which have been beaten down in recent months, followed the price of crude oil higher. The energy component of the S&P 500 jumped almost 3 percent.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 1.77 percent from 1.73 percent late Monday. The euro fell to $1.1397 from $1.1412 while the dollar rose to 108.53 yen from 107.94 yen.

In other energy commodities, heating oil rose 6 cents to $1.276 a gallon, wholesale gasoline rose 3 cents to $1.534 a gallon and natural gas rose 9 cents to $2.004 per thousand cubic feet.

Precious and industrial metals prices closed broadly higher. Gold gained $2.90 to $1,260.90 an ounce, silver rose 25 cents to $16.22 an ounce and copper climbed six cents to $2.15 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	187.03	points or ▲	1.06%	on	Wednesday, April 13, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,908.28	▲	187.03	▲	1.06%		
	Nasdaq____	4,947.42	▲	75.33	▲	1.55%		
	S&P_500___	2,082.42	▲	20.70	▲	1.00%		
	30_Yr_Bond____	2.58	▼	-0.03	▼	-1.15%		

NYSE Volume	 4,167,793,250 	 	 	 	 	  		 
Nasdaq Volume	 1,952,155,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,362.89	▲	120.50	▲	1.93%		
	DAX_____	10,026.10	▲	264.63	▲	2.71%		
	CAC_40__	4,490.31	▲	144.40	▲	3.32%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,127.20	▲	73.50	▲	1.45%		
	Shanghai_Comp	3,066.64	▲	42.99	▲	1.42%		
	Taiwan_Weight	8,652.08	▲	120.90	▲	1.42%		
	Nikkei_225___	16,381.22	▲	452.43	▲	2.84%		
	Hang_Seng.__	21,158.71	▲	654.27	▲	3.19%		
	Strait_Times.__	2,890.41	▲	75.76	▲	2.69%		
	NZX_50_Index_	6,777.91	▲	51.90	▲	0.77%		

http://finance.yahoo.com/news/us-stocks-jump-jpmorgan-gives-banks-boost-141910144.html

*US stocks jump as JPMorgan gives banks a big boost*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” U.S. stocks climbed again Wednesday as quarterly results from JPMorgan Chase gave banks a big lift. Economic news from China powered industrial and technology companies in the U.S. and stock exchanges overseas.

JPMorgan Chase, the largest bank in the U.S., led a rally in financial stocks after its first-quarter results came in better than analysts expected. Railroad operators and auto parts suppliers also gained ground, while consumer goods makers struggled. Gains over the last two days have brought stocks to their highest levels of 2016.

Julian Emanuel, U.S. equities and derivatives strategist for UBS, said it didn't take much to send banks, the worst-performing sector in the market this year, higher.

"Bank stocks have been so beaten up that any good news, either on better credit conditions driven by higher energy prices or news on cost-cutting, is likely to underpin those stocks," he said.

The Dow Jones industrial average jumped 187.03 points, or 1.1 percent, to 17,908.28. The Standard & Poor's 500 index rose 20.70 points, or 1 percent, to 2,082.42. The Nasdaq composite index advanced 75.33 points, or 1.6 percent, to 4,947.42.

JPMorgan, the largest bank in the U.S. and the first to report its earnings, said its first-quarter profit fell because of weak results in its investment banking business. Its profit and revenue were bigger than analysts expected, however, and the stock rose $2.51, or 4.2 percent, to $61.79. Bank of America picked up 52 cents, or 3.9 percent, to $13.79 and Wells Fargo rose $1.26, or 2.6 percent, to $49.03. Citigroup jumped $2.35, or 5.6 percent, to $44.25.

Banks have slumped this year because investors are worried they will take big losses on loans to energy companies, which did hurt JPMorgan's results. Low interest rates are also affecting bank stocks because they reduce the profits banks can make on loans.

Railroad operator CSX gained $1.04, or 4.2 percent, to $26.03. The company's profit fell as demand for coal got weaker and CSX hauled less freight, but expenses fell, partly because fuel costs dropped. CSX said it plans to cut more spending.

Other railroad stocks surged. Union Pacific added $2.08, or 2.6 percent, to $81.72 and Norfolk Southern rose $2.42, or 3.1 percent, to $81.14.

Industrial stocks and tech stocks rose on reports that exports from China grew 11.5 percent in March compared with a year earlier. That was the first annual gain since June, and it's a sign of life from China's slowing economy. Heavy equipment maker Caterpillar rose $3.03, or 4 percent, to $79.13 and engine maker Cummins climbed $5.90, or 5.5 percent, to $113.70.

While the long-beleaguered banking sector traded higher on Wednesday, the best-performing parts of the market so far this year, utilities and telecommunications companies, traded lower. Emanuel said that's a sign the recent rally is running out of steam.

"The market's run, in our view, too far, too fast," he said.

Consumer goods makers also fell. The Commerce Department said retail sales fell a little in March, although the Federal Reserve said overall consumer spending grew a bit in February and March. Americans have been cautious about their spending this year even though gas prices are low and jobs are growing. Tobacco company Reynolds American lost $2.11, or 4.1 percent, to $49.15 and Altria fell $1.75, or 2.7 percent, to $62.07.

Tyson Foods gave up $2.74, or 4 percent, to $65.63 and Clorox declined $2.03, or 1.6 percent, to $126.14. Campbell Soup shed $1.17, or 1.8 percent, to $62.81.

Delphi Automotive rose $4.07, or 5.6 percent, to $76.42. Two years ago the IRS argued that some of Delphi's businesses were based in the U.S. and should be taxed accordingly. Delphi said Wednesday that the agency agrees that's not the case.

Verizon Communications slipped after around 39,000 landline and cable workers walked off the job Wednesday morning. Verizon's contracts with its unions expired about eight months ago and little progress has been made in negotiations. The stock declined 65 cents, or 1.3 percent, to $51.29.

France's CAC 40 rose 3.3 percent and Germany's DAX added 2.7 percent. The FTSE 100 in Britain rose 1.9 percent. Japan's benchmark Nikkei 225 added 2.8 percent and Hong Kong's Hang Seng gained 3.2 percent.

U.S. crude slipped 41 cents, or 1 percent, to $41.76 a barrel in New York. Brent crude, the benchmark for international oil pricing, fell 51 cents, or 1.1 percent, to $44.18 a barrel in London.

In other energy trading, wholesale gasoline was little changed at $1.53 a gallon. Heating oil fell 1 cent to $1.27 a gallon. Natural gas rose 3 cents to $2.04 per 1,000 cubic feet.

Bond prices rose. The yield on the 10-year U.S. Treasury note slipped to 1.76 percent from 1.78 percent. The dollar rose to 109.25 yen from 108.53 yen and the euro fell to $1.1285 from $1.1397.

Precious and industrial metals futures ended mixed. Gold lost $12.60 to $1,248.30 an ounce, silver edged up 10 cents to $16.33 an ounce and copper rose two cents to $2.17 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	18.15	points or ▲	0.10%	on	Thursday, April 14, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,926.43	▲	18.15	▲	0.10%		
	Nasdaq____	4,945.89	▼	-1.53	▼	-0.03%		
	S&P_500___	2,082.78	▲	0.36	▲	0.02%		
	30_Yr_Bond____	2.60	▲	0.02	▲	0.74%		

NYSE Volume	 3,758,186,000 	 	 	 	 	  		 
Nasdaq Volume	 1,647,384,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,365.10	▲	2.21	▲	0.03%		
	DAX_____	10,093.65	▲	67.55	▲	0.67%		
	CAC_40__	4,511.51	▲	21.20	▲	0.47%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,187.70	▲	60.50	▲	1.18%		
	Shanghai_Comp	3,082.36	▲	15.72	▲	0.51%		
	Taiwan_Weight	8,667.71	▲	15.63	▲	0.18%		
	Nikkei_225___	16,911.05	▲	529.83	▲	3.23%		
	Hang_Seng.__	21,337.81	▲	179.10	▲	0.85%		
	Strait_Times.__	2,913.93	▲	23.52	▲	0.81%		
	NZX_50_Index_	6,823.81	▲	45.90	▲	0.68%		

http://finance.yahoo.com/news/us-stocks-dip-early-trading-142527649.html

*U.S. stock indexes wobble to a mixed finish*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” U.S. stocks hardly budged Thursday and finished with a mix of small gains and losses. Banks and airlines rose on strong first-quarter reports, while consumer products companies struggled.

The market wavered throughout the day. Stocks are coming off two big gains in a row and are trading at their highest levels of the year.

"People are getting a bit more confident of what's going on in the market," said J.J. Kinahan, chief strategist for TD Ameritrade.

The Dow Jones industrial average added 18.15 points, or 0.1 percent, to 17,926.43. The Standard & Poor's 500 index ticked up 0.36 points to 2,082.78. The Nasdaq composite lost 1.53 points to 4,945.89.

The results from banks haven't been great so far, but investors expected even worse because of shaky loans to energy companies and low interest rates that have made lending less profitable. Kinahan said banks are benefiting from lower expenses and more people are seeking mortgage loans.

"If businesses are starting to expand a little bit, if the consumer is out there trying to buy housing, (lending) is a steady source of income for these institutions," he said. Investors feared "this was going to be an absolutely disastrous earnings season," he said.

Bank of America picked up 35 cents, or 2.5 percent, to $14.14, as its results met investor expectations. First Republic Bank jumped $2.38, or 3.5 percent, to $69.88 after the San Francisco bank reported a bigger-than-expected profit. Fifth Third Bank, another regional bank, gained 32 cents, or 1.8 percent, to $17.73.

Wells Fargo's profit fell as it set aside more money to cover its struggling portfolio of oil and gas loans, one of the chief worries investors have about the financial industry. The stock slipped 24 cents to $48.79. Bank stocks jumped Wednesday after JPMorgan Chase, the largest U.S. bank, reported results that beat expectations.

Data storage company Seagate Technology said its third-quarter profit margins and revenue will be lower than expected. The company said it's seeing lower demand for some kinds of hard disk drives. Its stock plunged $6.82, or 20.1 percent, to $27.11, by far the largest loss in the S&P 500. Competitor Western Digital fell $2.98, or 6.7 percent, to $41.82 and NetApp lost $1.06, or 4 percent, to $25.64.

Delta Air Lines' first-quarter profit jumped 27 percent, helped by low fuel costs. Delta's stock gained 45 cents to $48.49, but its competitors had even bigger gains. American Airlines rose $1.23, or 3.1 percent, to $41.17 and United added $1.15, or 2.1 percent, to $56.73. JetBlue and Southwest also rose.

Pier 1 Imports fell after the home decor company gave a shaky outlook for the first half of its fiscal year. Pier 1 said it expects pressure on its profit and sales because of marketing expenses, including a return to TV advertising, as well as price markdowns. The stock gave up 43 cents, or 5.9 percent, to $6.91.

Benchmark U.S. crude oil fell 26 cents to $41.50 a barrel in New York. Brent crude, the international standard, gave up 34 cents to $43.84 a barrel in London.

Gold fell $21.80, or 1.7 percent, to $1,226.50 an ounce. Silver fell 15 cents to $16.17 an ounce. Copper was unchanged at $2.17 a pound.

Claims for unemployment benefits dropped sharply last week and reached their lowest level since 1973. They've been at low levels for a year, which indicates the job market is healthy and employers aren't letting go of workers. That suggests many companies see the recent slowdown as temporary.

In other energy trading, wholesale gasoline fell 2 cents to $1.51 a gallon. Heating oil dipped 1 cent to $1.25 a gallon. Natural gas fell 7 cents, or 3 percent, to $1.97 per 1,000 cubic feet.

In Europe, Germany's DAX was up 0.7 percent while the CAC-40 in France rose 0.5 percent. The FTSE 100 index in Britain held steady. Japan's benchmark Nikkei 225 closed 3.2 percent higher as the yen weakened slightly against the dollar. Hong Kong's Hang Seng gained 0.8 percent and the KOSPI in South Korea climbed 1.7 percent.

Bond prices slipped. The yield on the 10-year U.S. Treasury note rose to 1.79 percent from 1.77 percent. The euro fell to $1.1267 from $1.1283 and the dollar edged up to 109.28 yen from 109.24 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-28.97	points or ▼	-0.16%	on	Friday, April 15, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,897.46	▼	-28.97	▼	-0.16%		
	Nasdaq____	4,938.22	▼	-7.67	▼	-0.16%		
	S&P_500___	2,080.73	▼	-2.05	▼	-0.10%		
	30_Yr_Bond____	2.56	▼	-0.03	▼	-1.31%		

NYSE Volume	 3,691,814,500 	 	 	 	 	  		 
Nasdaq Volume	 1,686,650,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,343.75	▼	-21.35	▼	-0.34%		
	DAX_____	10,051.57	▼	-42.08	▼	-0.42%		
	CAC_40__	4,495.17	▼	-16.34	▼	-0.36%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,224.10	▲	36.40	▲	0.70%		
	Shanghai_Comp	3,078.12	▼	-4.24	▼	-0.14%		
	Taiwan_Weight	8,700.39	▲	32.68	▲	0.38%		
	Nikkei_225___	16,848.03	▼	-63.02	▼	-0.37%		
	Hang_Seng.__	21,316.47	▼	-21.34	▼	-0.10%		
	Strait_Times.__	2,923.94	▲	10.01	▲	0.34%		
	NZX_50_Index_	6,844.74	▲	20.93	▲	0.31%		

http://finance.yahoo.com/news/us-stocks-slip-oil-prices-142937643.html#

*US stocks dip with oil prices, but finish the week higher

U.S. stocks fell slightly as a dip in oil prices dragged energy companies lower, but utilities and metals and mining companies finished higher*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- U.S. stocks took small losses in quiet trading Friday as energy companies sank with the price of oil, but the market finished higher for the week.

The price of oil fell 3 percent and made energy companies the worst performing sector of the market. Utility companies rose as bond yields decreased, and metals and mining companies rose as gold and silver prices edged higher.

For the week, the market was propelled higher by quarterly financial results from big banks that were less ugly than investors were bracing for. The market quieted, though, toward the end of the week.

"We're in a wait and see market," said Kate Warne, investment strategist for Edward Jones. "People are still skeptical about earnings growth in the first quarter, but there's no longer the grave concern there was a few weeks ago."

The Dow Jones industrial average fell 28.97 points Friday, or 0.2 percent, to 17,897.46. The Dow rose 1.8 percent for the week. The Standard & Poor's 500 index lost 2.05 points Friday, or 0.1 percent, to 2,080.73 but finished the week up 1.6 percent. The Nasdaq composite index dipped 7.67 points, or 0.2 percent, to 4,938.22. For the week it was up 1.8 percent.

U.S. crude fell $1.14 to $40.36 a barrel in New York. Brent crude, the international benchmark, lost 74 cents, or 1.7 percent, to $43.10 a barrel in London. The prices of wholesale gasoline, heating oil and natural gas also slumped.

Ministers from major oil-producing countries will meet this weekend in Qatar to discuss their production policies. The price of oil has risen in recent weeks in part on hopes that those countries will be able to strike a deal that will limit oil production and help relieve a global glut. But a deal is far from a sure thing, and oil prices have slipped in recent days.

"Many of us are skeptical about whether there will be an agreement and even more skeptical about whether that will stabilize oil prices where they are now," Warne said, because even if countries keep oil production near current levels, they'll still be producing more than necessary to meet demand.

Occidental Petroleum lost $2.17, or 2.9 percent, to $72.15. EOG Resources fell $2.10, or 2.7 percent, to $75.71.

Utility companies, the best performing group of stocks on the market this year, made the largest gains Friday. Investors are being drawn to their relatively high dividend payouts because rising bond prices are lowering the yields investors can earn from bonds. Edison International rose $1.02, or 1.5 percent, to $71.06 and NextEra Energy rose $1.28, or 1.1 percent, to $117.43.

Bond prices rose and the yield on the 10-year U.S. Treasury note declined to 1.75 percent from 1.79 percent.

Citigroup said Friday its first quarter profit shrank 27 percent on weak results from its consumer bank and trading businesses, but the bank's net income and revenue were greater than expected. The stock fell 6 cents to $44.92, but still finished the week 11 percent higher. Bank holding company Regions Financial also reported a bigger profit and greater revenue than expected. Its stock added 26 cents, or 3.1 percent, to $8.74.

The price of gold and silver both edged upward, which gave metals and mining companies a boost. Gold gained $8.10 to $1,234.60 an ounce, while silver rose 14 cents to $16.31 an ounce. Copper lost 2 cents to $2.15 a pound. Newmont Mining added 69 cents, or 2.4 percent, to $29.37 and Freeport-McMoRan picked up 13 cents, or 1.2 percent, to $10.86.

In other energy trading, wholesale gasoline slipped 4 cents, or 2.9 percent, to $1.46 a gallon and heating oil decreased 2 cents, or 1.8 percent, to $1.23 a gallon. Natural gas fell 7 cents, or 3.5 percent, to $1.90 per 1,000 cubic feet.

China reported that its economy grew 6.7 percent in the first quarter of 2016. While that is the slowest pace in years, it matched analyst projections.

Germany's DAX fell 0.4 percent and the CAC-40 in France was 0.4 percent lower. The FTSE 100 index of leading British shares declined 0.3 percent. The benchmark Nikkei 225 index in Japan shed 0.4 percent, while South Korean Kospi dipped 0.1 percent. Hong Kong's Hang Seng slipped 0.1 percent.

The euro rose to $1.1288 from $1.1267 and the dollar fell to 108.70 yen from 109.28 yen.

5951


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	106.7	points or ▲	0.60%	on	Monday, April 18, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,004.16	▲	106.70	▲	0.60%		
	Nasdaq____	4,960.02	▲	21.80	▲	0.44%		
	S&P_500___	2,094.34	▲	13.61	▲	0.65%		
	30_Yr_Bond____	2.59	▲	0.02	▲	0.94%		

NYSE Volume	 3,312,238,250 	 	 	 	 	  		 
Nasdaq Volume	 1,773,846,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,353.52	▲	9.77	▲	0.15%		
	DAX_____	10,120.31	▲	68.74	▲	0.68%		
	CAC_40__	4,506.84	▲	11.67	▲	0.26%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,204.90	▼	-19.20	▼	-0.37%		
	Shanghai_Comp	3,033.66	▼	-44.46	▼	-1.44%		
	Taiwan_Weight	8,666.01	▼	-34.38	▼	-0.40%		
	Nikkei_225___	16,275.95	▼	-572.08	▼	-3.40%		
	Hang_Seng.__	21,161.50	▼	-154.97	▼	-0.73%		
	Strait_Times.__	2,917.75	▼	-6.19	▼	-0.21%		
	NZX_50_Index_	6,851.20	▲	6.46	▲	0.09%		

http://finance.yahoo.com/news/us-stocks-recover-early-slump-move-higher-142514794--finance.html#

*US stocks recover from an early slump and close higher*
Associated Press By ALEX VEIGA

Energy companies led a broad rally in U.S. stocks Monday as investors shrugged off another slide in crude oil prices.

The gain nudged the Dow Jones industrial average slightly above the 18,000-point mark for the first time since last summer, while the Standard & Poor's 500 index rose to the highest level in a year.

The market had been headed lower early on following news that representatives from several major oil-producing nations meeting over the weekend in Doha, Qatar, failed to hammer out a deal to cut output. That sent the price of U.S. oil down 7 percent at one point before recouping much of its losses. It ended down 1.4 percent.

Beyond the volatile oil market, investors had their eye on the latest company earnings, which have been mostly encouraging so far, said Sean Lynch, co-head of global equity strategy at Wells Fargo Investment Institute.

"We're seeing broad-based gains across all the sectors," Lynch said. "The market is maybe finding some resilience here and maybe looking back on the fundamentals of the earnings season and seeing it's not so bad."

The Dow climbed 106.70 points, or 0.6 percent, to close at 18,004.16. The last time the average was above 18,000 points was on July 20.

The S&P 500 index added 13.61 points, or 0.7 percent, to 2,094.34. That's the highest level since April 14 last year.

The Nasdaq composite index gained 21.80 points, or 0.4 percent, to 4,960.02.

For the year, the Dow is up 3.3 percent, while the S&P 500 is up 2.5 percent. The Nasdaq is down about 1 percent.

The price of oil had risen in recent weeks on hopes for a deal that will limit oil production in an effort to relieve a global glut. But hopes for a meaningful production cut faded Monday when the talks over the weekend failed to deliver a deal.

Saudi Arabia said it wouldn't back a deal if Iran, which is trying to ramp up output as international sanctions are lifted, wasn't involved. Already tense relations between the two countries deteriorated in recent months over issues including the wars in Syria and Yemen, in which they are backing opposing sides.

Word of the failed talks initially pulled oil prices lower, weighing on stocks.

All told, U.S. crude fell 58 cents, or 1.4 percent, to close at $39.78 a barrel in New York. Brent crude, the international benchmark, lost 19 cents, or 0.4 percent, to close at $42.91 a barrel in London.

Investors decided that expectations for an oil output deal had been very modest to begin with, said Eric Wiegand, senior portfolio manager at U.S. Bank Wealth Management.

"The Saudis, back in January, had continued to point to June as being the OPEC meeting that they were really focused on," Wiegand said. "Perhaps the expectations for something before June were misplaced."

Several energy and drilling services companies rebounded after an early morning sell-off.

Hess rose $2.67, or 4.7 percent, to $59.84, while Marathon Oil added 35 cents, or 2.7 percent, to $13.36. Baker Hughes gained $1.90, or 4.3 percent, to $45.70.

Energy companies notched the biggest gain among the sectors in the S&P 500, rising 1.6 percent. The sector is up 7.7 percent this year.

Stocks in the health care and consumer discretionary sectors also posted big gains.

Hasbro jumped 5.8 percent after reporting better results than analysts were expecting. The toy company benefited from strong sales of "Star Wars," ''Frozen" and Disney princess products. The stock added $4.77 to $87.18.

Endo International led a surge among several pharmaceutical companies. The stock also posted the biggest gain in the S&P 500, vaulting $2.16, or 8.2 percent, to $28.49. Regeneron Pharmaceuticals climbed $15.65, or 3.9 percent, to $422.38.

Major stock indexes in Europe also closed higher.

Germany's DAX rose 0.7 percent, while the CAC-40 in France edged up 0.3 percent. Britain's FTSE 100 index was up 0.2 percent.

In Asia, Japan's Nikkei 225 index dropped 3.4 percent as a rising yen and quake-related production halts added to investor worries. Hong Kong's Hang Seng index lost 0.7 percent. South Korea's Kospi slid 0.3 percent, while Australia's S&P/ASX 200 dipped 0.4 percent.

In other energy trading, wholesale gasoline fell about 2 cents to $1.44 a gallon. Heating oil was little changed at $1.24 a gallon. Natural gas rose 38 cents, or 2 percent, to $1.94 per 1,000 cubic feet.

Precious and industrial metals futures ended narrowly mixed. Gold edged up 40 cents to $1,235 an ounce, silver slipped six cents to $16.25 an ounce and copper edged up a penny to $2.16 a pound.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.77 percent from 1.75 late Friday. In currency markets, the dollar rose to 108.82 yen from 108.70 yen. The euro rose to $1.1314 from $1.1288.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	49.44	points or ▲	0.27%	on	Tuesday, April 19, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,053.60	▲	49.44	▲	0.27%		
	Nasdaq____	4,940.33	▼	-19.69	▼	-0.40%		
	S&P_500___	2,100.80	▲	6.46	▲	0.31%		
	30_Yr_Bond____	2.60	▲	0.01	▲	0.35%		

NYSE Volume	 4,019,620,750 	 	 	 	 	  		 
Nasdaq Volume	 1,865,771,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,405.35	▲	51.83	▲	0.82%		
	DAX_____	10,349.59	▲	229.28	▲	2.27%		
	CAC_40__	4,566.48	▲	59.64	▲	1.32%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,254.70	▲	49.80	▲	0.96%		
	Shanghai_Comp	3,042.82	▲	9.16	▲	0.30%		
	Taiwan_Weight	8,633.72	▼	-32.29	▼	-0.37%		
	Nikkei_225___	16,874.44	▲	598.49	▲	3.68%		
	Hang_Seng.__	21,428.25	▲	266.75	▲	1.26%		
	Strait_Times.__	2,951.81	▲	34.06	▲	1.17%		
	NZX_50_Index_	6,873.04	▲	21.84	▲	0.32%		

http://finance.yahoo.com/news/us-stocks-move-higher-investors-142346147.html

*US stock indexes close mostly higher; oil price rebounds

U.S. stocks close mostly higher, led by gains in energy, mining and financial companies*
Associated Press By Alex Veiga, AP Business Writer

U.S. stocks closed mostly higher on Tuesday, led by gains in energy, mining and financial companies.

The Dow Jones industrial average and the Standard & Poor's 500 index eked out small gains. The tech-heavy Nasdaq composite closed modestly lower, reflecting a slump in technology stocks, which were dragged down by Netflix and IBM.

The gains in energy and mining companies came as prices for oil, copper and other basic materials rose.

Investors were mostly focused on the latest batch of corporate earnings and on what company managers have to say about their prospects for growing profits this year.

"The market is focused on where we are going to be three months from now, five months from now," said Quincy Krosby, market strategist at Prudential Financial. "It's all about the guidance, and it's also all about what companies are doing to beat on the bottom line."

The Dow rose 49.44 points, or 0.3 percent, to 18,053.60. The S&P 500 index gained 6.46 points, or 0.3 percent, to 2,100.80. The Nasdaq fell 19.69 points, or 0.4 percent, to 4,940.33.

Expectations for earnings are low this quarter, with corporate profits for companies in the S&P 500 projected to be down 8.1 percent, according to S&P Global Market Intelligence. Even excluding the beaten-down energy sector, earnings growth for the S&P 500 companies is expected to be down 3.4 percent.

All of the earnings growth this year is expected to come in the second half of 2016, noted Erin Gibbs, equity chief investment officer at S&P Global Market Intelligence.

Several companies delivered quarterly results that put investors in a buying mood Tuesday.

Johnson & Johnson gained 1.6 percent after its first-quarter earnings beat Wall Street's expectations. Higher sales of new prescription drugs and other key medicines nearly offset a big hit from the strong dollar. The stock added $1.75 to $112.68.

UnitedHealth Group added 2.1 percent after it reported strong results for the first quarter and raised its guidance for the year. The health insurer also said it would cut back on participating in Affordable Care Act health care exchanges in a bid to stem losses related to the program. The stock gained $2.69 to $130.50.

Goldman Sachs' latest results also gave the investment bank's shares a lift. Goldman's earnings beat Wall Street's estimates, even though its profit sank by 56 percent from a year earlier. The stock rose $3.63, or 2.3 percent, to $162.65.

Kansas City Southern gained 4.6 percent after the railroad operator posted larger-than-expected quarterly earnings. The stock climbed $4.55 to $96.02.

Some companies' quarterly snapshots and outlooks failed to impress traders.

Netflix slumped 13 percent, a day after the streaming video company gave a disappointing forecast for subscriber additions and reported first-quarter revenue that fell short of financial analysts' forecasts. The stock lost $14.06 to $94.34.

IBM delivered improved first-quarter earnings thanks to a big tax refund, but also had lower revenue amid weaker software sales. The stock slid $8.53, or 5.6 percent, to $144.

Illumina sank 23.2 percent after the genetic testing tools maker predicted that sales in the first quarter will be far lower than analysts expected. Illumina shares were down $41.25 at $136.88.

This week, about 100 of the companies in the S&P 500 names are due to report quarterly results.

Beyond earnings, the market pushed up prices for mining and energy companies as the price of oil, natural gas, metals and other materials rose.

Freeport-McMoRan gained 99 cents, or 9 percent, to $12.01, while Newmont Mining rose $1.45, or 4.9 percent, to $30.91.

Williams Cos. was among the energy and drilling services companies to get a boost. It jumped $1.33, or 8 percent, to $18.01, while Oneok climbed $2.23, or 6.9 percent, to $34.39. Diamond Offshore Drilling rose $1.41, or 6.3 percent, to $23.76.

Benchmark U.S. crude rose $1.30, or 3.3 percent, to close at $41.08 a barrel in New York. Brent crude, the international benchmark, gained $1.12, or 2.6 percent, to close at $44.03 a barrel in London. Natural gas jumped 15 cents, or 7.6 percent, to close at $2.088 per 1,000 cubic feet.

Upbeat economic data and a rebound in oil prices lifted European markets.

Germany's DAX was up 2.3 percent, while France's CAC 40 was up 1.3 percent. Britain's FTSE 100 was up 0.8 percent. Earlier in Asia, Japan's Nikkei rallied 3.7 percent a sharp loss on Monday. South Korea's Kospi rose 0.1 percent, while Hong Kong's Hang Seng index gained 1.3 percent.

In other energy trading, wholesale gasoline rose about 4 cents, or 3 percent, to close at $1.48 a gallon. Heating oil added 3 cents, or 2.2 percent, to close at $1.26 a gallon.

Precious and industrial metals futures ended sharply higher. Gold rose $19.30, or 1.6 percent, to $1,254.30 an ounce, silver gained 72 cents, or 4.4 percent, to $16.97 an ounce and copper rose 6 cents, or 2.7 percent, to $2.22 a pound.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.79 percent from 1.77 percent late Monday.

In currency markets, the yen resumed its slide with the dollar strengthening to 109.13 yen from 108.82 yen. The euro rose to $1.1377 from $1.1314.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	42.67	points or ▲	0.24%	on	Wednesday, April 20, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,096.27	▲	42.67	▲	0.24%		
	Nasdaq____	4,948.13	▲	7.80	▲	0.16%		
	S&P_500___	2,102.40	▲	1.60	▲	0.08%		
	30_Yr_Bond____	2.66	▲	0.07	▲	2.50%		

NYSE Volume	 4,120,210,250 	 	 	 	 	  		 
Nasdaq Volume	 2,014,649,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,410.26	▲	4.91	▲	0.08%		
	DAX_____	10,421.29	▲	71.70	▲	0.69%		
	CAC_40__	4,591.92	▲	25.44	▲	0.56%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,281.20	▲	26.50	▲	0.50%		
	Shanghai_Comp	2,972.58	▼	-70.24	▼	-2.31%		
	Taiwan_Weight	8,514.48	▼	-119.24	▼	-1.38%		
	Nikkei_225___	16,906.54	▲	32.10	▲	0.19%		
	Hang_Seng.__	21,236.31	▼	-199.90	▼	-0.93%		
	Strait_Times.__	2,949.95	▼	-1.86	▼	-0.06%		
	NZX_50_Index_	6,901.26	▲	28.22	▲	0.41%		

http://finance.yahoo.com/news/us-stocks-waver-early-investors-eye-company-earnings-142219321.html

*US stocks end modestly higher as oil price recovers*
Associated Press By ALEX VEIGA

Financial and energy companies led a modest increase in U.S. stocks Wednesday, giving the stock market its third gain in a row.

The market got a boost from a pickup in the price of oil, which climbed about 4 percent after an early slide. When oil prices rise it tends to favor battered energy stocks and financial companies such as banks, which have been in the doldrums due to investor concerns that loans to struggling oil companies could go bad.

After several weeks of moving in different directions, the stock market appears to be getting more closely tied to the fluctuations in oil prices.

"Oil is what's been driving the market lately," said Chris Gaffney, president of EverBank World Markets.

Utilities and consumer staples stocks were among the biggest decliners.

The Dow Jones industrial average rose 42.67 points, or 0.2 percent, to 18,096.27. The Standard & Poor's 500 index added 1.60 points, or 0.1 percent, to 2,102.40. The Nasdaq composite index gained 7.80 points, or 0.2 percent, to 4,948.13.

The Dow is now up almost 4 percent for the year, while the S&P 500 is up about 3 percent. The Nasdaq narrowed its loss to 1.2 percent.

Trading got off to a flat start, with the major stock indexes moving sideways. They perked up by midmorning, as oil prices turned higher, but the rally lost some steam by the end of the day.

U.S. crude rose $1.55, or 3.8 percent, to close at $42.63 a barrel in New York. Brent crude, the international benchmark, climbed $1.77, or 4 percent, at $45.80 a barrel in London. Heating oil jumped 5.5 percent after adding 7 cents to close at $1.33 a gallon.

That helped lift shares in several energy companies. Chesapeake Energy gained 30 cents, or 4.9 percent, to $6.42, while Williams Cos. rose 82 cents, or 4.6 percent, at $18.83.

The market got some encouraging data on housing, with the National Association of Realtors reporting that sales of previously occupied U.S. homes bounced back in March after a February slump as the spring home-selling season kicked off

Investors also had their eye on the latest batch of company earnings.

Corporate profits for companies in the S&P 500 are expected to be down 8.1 percent, according to S&P Global Market Intelligence. Even excluding energy companies, which have been hammered by falling oil prices, earnings growth for the S&P 500 companies is projected to be down 3.3 percent.

Even so, while only about 15 percent of companies having reported results at this point, many have turned in better-than-expected results.

"So far, we're actually seeing companies surprising to the upside," said Jason Pride, director of investment strategy at Glenmede.

Discover Financial Services led all the gainers in the S&P 500 after the credit card issuer and lender reported better-than-anticipated quarterly profit and sales as loan volume improved. The stock climbed $4.29, or 8.2 percent, to $56.84.

VMWare also delivered strong results, which vaulted the cloud-computing company $7.07, or nearly 14 percent, to $58.53.

Some companies failed to turn in encouraging results.

Coca-Cola slid 4.8 percent after the world's biggest beverage maker reported a lower profit for the first quarter. The company was squeezed by a strong dollar and charges related to the transformation of its North American operations. Coca-Cola was the biggest decliner in the S&P 500. It lost $2.23 to $44.37.

Beyond earnings, investors welcomed news that printer maker Lexmark International agreed to be bought by a group that includes Apex Technology and PAG Asia Capital for about $2.51 billion. The stock climbed $3.24, or 9.3 percent, to $37.90.

Stock markets in Europe also closed higher.

Germany's DAX rose 0.7 percent, while the CAC-40 of France gained 0.6 percent. The FTSE 100 of leading British shares added 0.1 percent. Earlier in Asia, most markets closed lower. South Korea's Kospi fell 0.3 percent and Hong Kong's Hang Seng slid 0.9 percent. Japan's benchmark Nikkei 225 edged up 0.2 percent, while Australia's S&P/ASX 200 added 0.5 percent.

In other energy trading, wholesale gasoline rose about 3 cents, or 1.8 percent, to close at $1.51 a gallon. Natural gas fell 2 cents to close at $2.069 per 1,000 cubic feet.

Precious and industrial metals futures inched higher. Gold rose 10 cents to $1,254.40 an ounce, silver gained 16 cents, or 1 percent, to $17.14 an ounce and copper rose 1.5 cents to $2.24 a pound.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.85 from 1.78 late Tuesday. In currency markets, the euro fell to $1.1302 from $1.1377, while the dollar rose to 109.80 yen from 109.13


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-113.75	points or ▼	-0.63%	on	Thursday, April 21, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,982.52	▼	-113.75	▼	-0.63%		
	Nasdaq____	4,945.89	▼	-2.24	▼	-0.05%		
	S&P_500___	2,091.48	▼	-10.92	▼	-0.52%		
	30_Yr_Bond____	2.69	▲	0.03	▲	1.17%		

NYSE Volume	 4,140,883,250 	 	 	 	 	  		 
Nasdaq Volume	 1,936,002,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,381.44	▼	-28.82	▼	-0.45%		
	DAX_____	10,435.73	▲	14.44	▲	0.14%		
	CAC_40__	4,582.83	▼	-9.09	▼	-0.20%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,336.40	▲	55.20	▲	1.05%		
	Shanghai_Comp	2,952.89	▼	-19.69	▼	-0.66%		
	Taiwan_Weight	8,568.65	▲	54.17	▲	0.64%		
	Nikkei_225___	17,363.62	▲	457.08	▲	2.70%		
	Hang_Seng.__	21,622.25	▲	385.94	▲	1.82%		
	Strait_Times.__	2,960.78	▲	10.83	▲	0.37%		
	NZX_50_Index_	6,906.10	▲	4.84	▲	0.07%		

http://finance.yahoo.com/news/us-stock-indexes-edge-lower-early-trading-oil-141647838--finance.html

*US stock indexes close lower as market snaps 3-day rally

A steep slide in phone companies and utilities weighs on Wall Street, snapping a three-day winning streak for the market*
Associated Press By Alex Veiga, AP Business Writer

A steep slide in traditional safe-play stocks such as phone companies and utilities weighed on Wall Street Thursday, snapping a three-day winning streak for the market.

The broad decline came as investors pored over company earnings for clues about the health of Corporate America and the trajectory of the U.S. economy. Oil prices also fell, extending losses for the battered energy sector.

"Today might be a little bit of profit-taking after such a big run here," said Jeff Kravetz, regional investment strategist at U.S. Bank's Private Client Reserve. "We did have a few companies that reported weaker-than-expected earnings."

The Dow Jones industrial average fell 113.75 points, or 0.6 percent, to 17,982.52. The Standard & Poor's 500 index shed 10.92 points, or 0.5 percent, to 2,091.48. The Nasdaq composite index lost 2.24 points, or 0.1 percent, to 4,945.89.

Many more companies are due to post their quarterly results in coming weeks. So far, though, traders have been quick to make moves on stocks, depending on whether the companies lived up to the market's expectations.

"We're still seeing a lot of companies struggling to meet that top line of revenue, and that's the bigger story," said JJ Kinahan, TD Ameritrade's chief strategist.

Mattel fell 5.8 percent after the toy maker reported a larger-than-anticipated quarterly loss and disappointing sales of Barbie dolls. The stock shed $1.91 to $31.13.

Alliance Data Systems, which manages loyalty and rewards programs for retailers and other companies, slumped 7 percent after the company issued a disappointing outlook for the current quarter. The stock lost $15.32 at $202.60.

Casino operator Las Vegas Sands also failed to match Wall Street's expectations. That sent the stock down $4.79, or 9.2 percent, to $47.39.

Investors bid up shares in companies that exceeded earnings forecasts.

Under Armour surged 6.8 percent after the athletic apparel company reported strong quarterly sales. It also increased its outlook for the year. The stock climbed $2.98 to $46.93.

General Motors rose 1.5 percent after the automaker said its profit more than doubled, thanks partly to strong demand in North America. The stock gained 47 cents to $32.66.

Citrix Systems climbed 4.4 percent a day after the company reported earnings that topped Wall Street expectations. The stock added $3.51 to $84.03.

Beyond earnings, traders sent shares in Viacom sharply higher on news that the company reached a new deal to have Dish Network continue to broadcast Viacom programming. Shares in Viacom added $5.18, or 13.9 percent, to $42.56.

American Airlines, General Electric and McDonald's are among the companies reporting earnings on Friday.

Markets in Europe were mixed Thursday.

German's DAX rose 0.1 percent, while France's CAC 40 edged down 0.2 percent. Britain's FTSE 100 fell 0.4 percent. Earlier in Asia, Japan's benchmark Nikkei 225 ended 2.7 percent higher. Hong Kong's Hang Seng climbed 1.8 percent. Australia's S&P/ASX 200 rose 1.1 percent. South Korea's KOSPI added 0.8 percent.

Benchmark U.S. crude oil fell $1, or 2.3 percent, to close at $43.18 a barrel in New York after. Brent crude, the international standard, dropped $1.27, or 2.8 percent, to close at $44.53 a barrel in London.

In other energy trading, wholesale gasoline rose about a penny to close at $1.52 a gallon. Heating oil fell 3 cents, or 2.4 percent, close at $1.30 a gallon. Natural gas was little changed at $2.07 per 1,000 cubic feet.

Precious and industrial metals futures were mixed. Gold fell $4.10 to $1,250.30 an ounce, silver slid 5 cents to $17.09 an ounce and copper rose about a penny to $2.25 a pound.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.86 percent from 1.84 percent late Wednesday.

In currency markets, the dollar slipped to 109.53 yen from 109.80 yen on Wednesday. The euro fell to $1.1295 from $1.1302.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	21.23	points or ▲	0.12%	on	Friday, April 22, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,003.75	▲	21.23	▲	0.12%		
	Nasdaq____	4,906.23	▼	-39.66	▼	-0.80%		
	S&P_500___	2,091.58	▲	0.10	▲	0.00%		
	30_Yr_Bond____	2.70	▲	0.01	▲	0.48%		

NYSE Volume	 4,029,618,500 	 	 	 	 	  		 
Nasdaq Volume	 2,029,634,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,310.44	▼	-71.00	▼	-1.11%		
	DAX_____	10,373.49	▼	-62.24	▼	-0.60%		
	CAC_40__	4,569.66	▼	-13.17	▼	-0.29%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,299.20	▼	-37.20	▼	-0.70%		
	Shanghai_Comp	2,959.24	▲	6.35	▲	0.22%		
	Taiwan_Weight	8,535.75	▼	-32.90	▼	-0.38%		
	Nikkei_225___	17,572.49	▲	208.87	▲	1.20%		
	Hang_Seng.__	21,467.04	▼	-155.21	▼	-0.72%		
	Strait_Times.__	2,940.43	▼	-20.35	▼	-0.69%		
	NZX_50_Index_	6,866.11	▼	-39.99	▼	-0.58%		

http://finance.yahoo.com/news/us-stocks-edge-mostly-higher-141533053.html#

*US stock indexes end mixed as investors size up earnings*
Associated Press By ALEX VEIGA

A rebound in the price of oil and natural gas helped drive sharp gains for energy and financial companies, nudging U.S. stocks mostly higher Friday.

That offset a slide in the technology sector following disappointing earnings from Microsoft, Google parent Alphabet and other big names.

The Dow Jones industrial average eked out a tiny gain, while the Standard & Poor's 500 index closed essentially flat. Both ended the week higher. But the tech-heavy Nasdaq composite fell short on both counts.

"The Nasdaq took a hit today," said Erik Davidson, chief investment officer at Wells Fargo Private Bank.

The Dow rose 21.23 points, or 0.1 percent, to 18,003.75. The S&P 500 index added 0.10 points to 2,091. The Nasdaq composite index lost 39.66 points, or 0.8 percent, to 4,906.23.

Trading was listless for much of the day, with the Dow and S&P 500 wavering between small gains and losses as the Nasdaq stayed in the red.

As was the case much of the week, investors were mostly focused on company earnings and energy prices.

The latter helped lift several oil and gas companies.

Southwestern Energy notched the biggest gain in the S&P 500. The stock vaulted $1.60, or 15 percent, to $12.27. Range Resources jumped $2.58, or about 7 percent, to $39.75, while Chesapeake Energy climbed 36 cents, or 5.8 percent, to $6.55.

Benchmark U.S. crude rose 55 cents, or 1.3 percent, to close at $43.73 a barrel in New York. Brent crude, used to price international oils, gained 58 cents, or 1.3 percent, to close at $45.11 a barrel in London. Natural gas gained 7 cents, or 3.5 percent, to close at $2.14 per 1,000 cubic feet.

Investors cheered earnings from Norfolk Southern, which jumped 10.5 percent after the railroad operator slashed costs during its latest quarter. The stock rose $8.70 to $91.33.

Quarterly results from several big-name companies failed to impress traders, however.

American Airlines Group fell 4.5 percent after the company said weaker fares and labor costs cut into its revenue in the first quarter. The stock shed $1.80 to $38.21.

Investors sold shares in Starbucks after the coffee chain reported disappointing sales growth for the first three months of the year. The stock lost $2.96, or about 5 percent, to $57.68.

Microsoft fell 7.2 percent, making it the biggest decliner in the S&P 500. The stock lost $4 to $51.78, while Alphabet slid $42.23, or 5.4 percent, to $737.77. Overall, the technology sector was off about 2 percent.

Despite the declines, investors seemed to conclude that the issues driving lackluster results at Alphabet and Microsoft were largely confined to those companies, Davidson said.

"The broader market doing better," he said. "Energy has to be part of that."

Major stock indexes in Europe ended lower.

Germany's DAX fell 0.6 percent, while France's CAC 40 slipped 0.3 percent. Britain's FTSE 100 declined 1.1 percent. In Asia, Hong Kong's Hang Seng index fell 0.7 percent. Tokyo's Nikkei 225 rose 1.2 percent. Seoul's Kospi slid 0.3 percent and Sydney's S&P ASX 200 lost 0.7 percent.

In other energy futures trading, wholesale gasoline added about a penny to close at $1.53 a gallon. Heating oil also rose a penny to close at $1.31 a gallon.

Precious and industrial metals futures were mixed. Gold fell $20.30, or 1.6 percent, to $1,230 an ounce, silver slid 19 cents, or 1.1 percent, to $16.90 an ounce and copper rose about a penny to $2.26 a pound.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.89 percent from 1.86 late Thursday.

In currency markets, the dollar gained to 111.67 yen from Thursday's 109.53 yen. The euro fell to $1.1245 from $1.1295.

6810


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-26.51	points or ▼	-0.15%	on	Monday, April 25, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,977.24	▼	-26.51	▼	-0.15%		
	Nasdaq____	4,895.79	▼	-10.44	▼	-0.21%		
	S&P_500___	2,087.79	▼	-3.79	▼	-0.18%		
	30_Yr_Bond____	2.72	▲	0.02	▲	0.74%		

NYSE Volume	 3,314,241,000 	 	 	 	 	  		 
Nasdaq Volume	 1,654,830,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,260.92	▼	-49.52	▼	-0.78%		
	DAX_____	10,294.35	▼	-79.14	▼	-0.76%		
	CAC_40__	4,546.12	▼	-23.54	▼	-0.52%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,299.20	▼	-37.20	▼	-0.70%	Anzac Day Holiday	
	Shanghai_Comp	2,946.67	▼	-12.57	▼	-0.42%		
	Taiwan_Weight	8,560.28	▲	24.53	▲	0.29%		
	Nikkei_225___	17,439.30	▼	-133.19	▼	-0.76%		
	Hang_Seng.__	21,304.44	▼	-162.60	▼	-0.76%		
	Strait_Times.__	2,900.28	▼	-40.15	▼	-1.37%		
	NZX_50_Index_	6,866.11	▼	-39.99	▼	-0.58%	Anzac Day Holiday		

http://finance.yahoo.com/news/us-stocks-dip-following-losses-141409537.html#

*US stocks slip as energy companies fall with oil prices*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- U.S. stocks slipped in quiet trading Monday as energy companies dropped with the price of oil. Metals and chemicals companies also fell. Company earnings remain weak, and Xerox and drugmaker Perrigo tumbled after reporting disappointing results and cutting their forecasts for the year.

Stocks looked like they were headed for big losses in the morning, as the Dow Jones industrial average dropped as much as 148 points. Stocks recovered most of those losses over the last hours of trading. Investors traded less than usual as they looked through a weak group of company earnings and prepared for the latest Federal Reserve meeting, which will conclude Wednesday.

"The market is being restrained as much by uncertainty over ... companies' ability to generate earnings growth and revenue growth as they are around uncertainty over Fed policy," said Justin Christofel, portfolio manager with BlackRock's Multi-Asset Income Fund.

Over the last week, company earnings have generally been better than expected, but Christofel said that's because investors weren't expecting much.

The Dow Jones industrial average fell 26.51 points, or 0.2 percent, to 17,977.24. The Standard & Poor's 500 index lost 3.79 points, or 0.2 percent, to 2,087.79. The Nasdaq composite index slid 10.44 points, or 0.2 percent, to 4,895.79.

Xerox cut its earnings estimate for the year after its first-quarter profit plunged 85 percent. The company's revenue fell, and costs went up as it gets ready to split into two businesses. The stock shed $1.49, or 13.3 percent, to $9.68.

Irish drugmaker Perrigo skidded after it cut its profit forecast. The company said prices for over-the-counter products in Europe are down, and it may take an impairment charge for a business it bought just a year ago. Perrigo chairman and CEO Joseph Papa also left the company to join Valeant Pharmaceuticals. The stock lost $21.95, or 18.1 percent, to $99.40.

About a third of the companies in the S&P 500 will report their earnings this week. Wall Street isn't feeling optimistic: according to Lindsey Bell of S&P Global Market Intelligence, analysts think earnings will fall 8 percent. That's the third straight quarterly decline, and the largest in seven years.

"Earnings have been revised down viciously this quarter," Christofel said.

Investors kept their powder dry as they waited to see what central banks in the U.S. and Japan will do. The Federal Reserve will meet Tuesday and Wednesday, and while investors don't think the Fed will raise interest rates this month, they will review the Fed's comments about the state of the U.S. and global economy. Bank of Japan officials will meet later in the week and could take new actions to stimulate the Japanese economy.

Benchmark U.S. crude fell $1.09, or 2.5 percent, to $42.64 a barrel in New York. Brent crude, used to price international oils, lost 63 cents, or 1.4 percent, to $44.48 a barrel in London. Transocean stock lost 53 cents, or 4.9 percent, to $10.26 and Hess fell $1.51, or 2.4 percent, to $61.87.

Gannett, the owner of USA Today and other papers, offered to buy Tribune Publishing for $388 million. Tribune owns 11 newspapers including the Los Angeles Times and Chicago Tribune. It said Tribune has refused to start constructive talks.

The offer values Tribune Publishing at $12.25 per share. Tribune jumped $3.98, or 52.9 percent, to $11.50. Gannett;s stock rose $1.02, or 6.5 percent, to $16.79.

Industrial and materials companies fell. Railroad company Union Pacific gave up $2.02, or 2.3 percent, to $87.61 and mining and construction equipment maker Caterpillar declined $1.53, or 2 percent, to $76.79.

Consumer companies traded higher. Supermarket operator Kroger picked up $1.19, or 3.3 percent, to $36.77 and spice retailer McCormick added $1.53, or 1.7 percent, to $93.29. Tyson Foods rose $1.01, or 1.6 percent, to $64.08.

The federal government approved Charter Communications' bid to buy Time Warner Cable. Time Warner Cable stock rose $8.18, or 4.1 percent, to $209.63 and Charter added $9.10, or 4.6 percent, to $207.01. If California utility regulators approve the deal, which they are expected to do, Charter will become the second-largest Internet provider and third-largest video company in the U.S.

Homebuilder stocks fell as sales of new home decreased for the third month in a row. The Commerce Department said overall sales fell 1.5 percent in March as sales in the West dropped more than 20 percent. PulteGroup sank 24 cents, or 1.3 percent, to $18.81 and KB Home lost 26 cents, or 1.8 percent, to $14.14.

The government of Saudi Arabia said a small portion of the world's largest oil company will go public. Saudi Aramco has long been considered the most valuable company in the world, and the kingdom valued it at more than $2 trillion. Apple, the most valuable publicly-traded company, has a market capitalization of about $583 billion.

The price of gold and silver each ticked higher. Gold gained $10.20 to $1,240.20 an ounce and silver added 11 cents to $17 an ounce. Copper fell 1 cent to $2.25 a pound.

In other energy trading, wholesale gasoline fell 2 cents to $1.51 a gallon. Heating oil lost 2 cents to $1.29 a gallon. Natural gas fell 8 cents to $2.06 per 1,000 cubic feet.

Germany's DAX fell 0.8 percent and the CAC 40 in France slipped 0.5 percent. Britain's FTSE 100 lost 0.8 percent. Japan's benchmark Nikkei 225 dipped 0.8 percent. In South Korea the Kospi inched down 0.1 percent. Hong Kong's Hang Seng fell 0.8 percent.

Bond prices fell and the yield on the 10-year U.S. Treasury note rose to 1.91 percent from 1.89 percent. The euro rose to $1.1261 from $1.1245. The dollar fell to 111.28 yen from 111.67 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	13.08	points or ▲	0.07%	on	Tuesday, April 26, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,990.32	▲	13.08	▲	0.07%		
	Nasdaq____	4,888.28	▼	-7.51	▼	-0.15%		
	S&P_500___	2,091.70	▲	3.91	▲	0.19%		
	30_Yr_Bond____	2.76	▲	0.03	▲	1.17%		

NYSE Volume	 3,545,768,000 	 	 	 	 	  		 
Nasdaq Volume	 2,094,527,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,284.52	▲	23.60	▲	0.38%		
	DAX_____	10,259.59	▼	-34.76	▼	-0.34%		
	CAC_40__	4,533.18	▼	-12.94	▼	-0.28%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,283.60	▼	-15.60	▼	-0.29%		
	Shanghai_Comp	2,964.70	▲	18.03	▲	0.61%		
	Taiwan_Weight	8,581.57	▲	21.29	▲	0.25%		
	Nikkei_225___	17,353.28	▼	-86.02	▼	-0.49%		
	Hang_Seng.__	21,407.27	▲	102.83	▲	0.48%		
	Strait_Times.__	2,894.66	▼	-5.62	▼	-0.19%		
	NZX_50_Index_	6,795.72	▼	-70.39	▼	-1.03%		

http://finance.yahoo.com/news/us-stocks-rise-oil-prices-142511641.html#

*US stocks mostly trade higher as energy sector rises*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” Stocks finished mostly higher Tuesday in another cautious day of trading. Energy companies climbed in tandem with the price of oil, but technology companies fell.

The market wavered between small gains and losses throughout the day. Chemicals companies made the biggest gains, led by DuPont, while energy companies benefited from higher oil prices. Health care stocks fell on more regulatory scrutiny of drug pricing. The Nasdaq composite index fell for the fourth day in a row.

Trading has been light this week. Julian Emanuel, U.S. equities and derivatives strategist for UBS, said investors are waiting to see the results of Federal Reserve and Bank of Japan policy meetings in the next few days. The Fed is expected to leave interest rates unchanged, while the Bank of Japan could take new steps to stimulate Japan's economy.

"People are very, very wary of taking big positions," he said. "The commentary is going to be very closely parsed."

The Dow Jones industrial average added 13.08 points, or 0.1 percent, at 17,990.32. The Standard & Poor's 500 index rose 3.91 points, or 0.2 percent, to 2,091.70. The Nasdaq fell 7.50 points, or 0.2 percent, to 4,888.28.

The price of benchmark U.S. crude oil jumped $1.40, or 3.3 percent, to $44.04 per barrel in New York. Brent crude, used to price international oils, gained $1.26, or 2.8 percent, to $45.74 a barrel in London.

That helped energy stocks, and ConocoPhillips rose $1.81, or 3.9 percent, to $48.08 while Pioneer Natural Resources gained $11.86, or 7.7 percent, to $165.36. Oil company BP rose $1.70, or 5.3 percent, to $33.49 after BP posted a larger-than-expected profit and it left its dividend unchanged even though oil prices and energy income has plunged.

Earnings reports continued to stream in after the market closed for the day. Apple's first-quarter results disappointed investors as its sales fell for the first time in more than a decade and fell short of analysts' forecasts. Apple sank $6.20, or 5.9 percent, to $98.15 in aftermarket trading. Twitter's first-quarter revenue and its second-quarter forecast disappointed investors and its stock lost $1.90, or 10.7 percent, to $15.85 in after-hours trading.

Chemicals companies and makers of mining and construction equipment reported solid quarterly results. Emanuel of UBS said that energy, chemical and mining companies and heavy machinery makers are getting a hand from China's economy, which is doing better than investors expected a few months ago.

DuPont picked up $1.58, or 2.4 percent, to $67.55. The chemicals giant expects a larger profit for the year, saying the strong dollar won't hurt its results as much as it predicted. Dow Chemical, which is preparing to combine with DuPont, added $1.13, or 2.2 percent, to $53.67.

Truck leasing company Ryder System added $4.20, or 6.4 percent, to $69.45. Manufacturing company Ingersoll-Rand rose $1.36, or 2.1 percent, to $65.39. Truck maker Paccar gained $2.88, or 5.1 percent, to $58.93.

Telecommunications companies, one of the best performing parts of the market this year, fell on Tuesday. The stocks traded lower as bond prices fell and yields rose, making them more attractive to income-seeking investors compared to telecom stocks.

Drug companies fell as investors looked ahead to the latest Congressional panel on drug prices. The Senate Aging Committee will hold its third meeting on drug prices Wednesday, and on Tuesday the committee said former Valeant Pharmaceuticals executive Robert Schiller and hedge fund manager Bill Ackman, an investor in Valeant, will both be questioned.

Investors in drug companies fear that Congressional scrutiny will make it harder for the companies to keep raising drug prices and keep their profits growing. Alexion Pharmaceuticals lost $4.01, or 2.5 percent, to $154.01. Vertex Pharmaceuticals fell $1.52, or 1.8 percent, to $84.14.

Elsewhere, specialty glass maker Corning lost $1.75, or 8.3 percent, to $19.22 after its sales were weaker than expected. Whirlpool, the appliance maker behind Maytag, KitchenAid and other brands, reported disappointing profit and sales. The company said its business was hurt by the strong dollar. The stock lost $6.61, or 3.6 percent, to $179.43.

Drug developer Sarepta Therapeutics plunged after a Food and Drug Administration panel said its muscular dystrophy drug eteplirsen shouldn't be approved. The panelists said evidence didn't show the drug is effective. The stock fell $3.93, or 26.3 percent, to $11.02.

In other energy trading, wholesale gasoline rose 5 cents, or 3.5 percent, to $1.57 a gallon. Heating oil added 4 cents, or 3.3 percent, to $1.33 a gallon. Natural gas fell 3 cents to $2.03 per 1,000 cubic feet.

The price of gold rose $3.20 to $1,243.40 an ounce and silver edged up 10 cents to $17.11 an ounce. Copper lost 1 cent to $2.24 a pound.

Britain's FTSE 100 rose 0.4 percent, while Germany's DAX and the CAC 40 in France each lost 0.3 percent. Japan's Nikkei 225 fell 0.5 percent and South Korea's Kospi rose 0.3 percent. The Hang Seng index in Hong Kong gained 0.5 percent.

Bond prices edged lower. The yield on the 10-year U.S. Treasury note rose to 1.93 percent from 1.92 percent a day earlier. The dollar rose to 111.41 yen from 111.28 yen. The euro rose to $1.1291 from $1.1261.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	51.23	points or ▲	0.28%	on	Wednesday, April 27, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,041.55	▲	51.23	▲	0.28%		
	Nasdaq____	4,863.14	▼	-25.14	▼	-0.51%		
	S&P_500___	2,095.15	▲	3.45	▲	0.16%		
	30_Yr_Bond____	2.70	▼	-0.06	▼	-2.10%		

NYSE Volume	 4,054,419,250 	 	 	 	 	  		 
Nasdaq Volume	 2,052,346,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,319.91	▲	35.39	▲	0.56%		
	DAX_____	10,299.83	▲	40.24	▲	0.39%		
	CAC_40__	4,559.40	▲	26.22	▲	0.58%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,250.90	▼	-32.70	▼	-0.62%		
	Shanghai_Comp	2,953.67	▼	-11.03	▼	-0.37%		
	Taiwan_Weight	8,563.05	▼	-18.52	▼	-0.22%		
	Nikkei_225___	17,290.49	▼	-62.79	▼	-0.36%		
	Hang_Seng.__	21,361.60	▼	-45.67	▼	-0.21%		
	Strait_Times.__	2,874.72	▼	-19.94	▼	-0.69%		
	NZX_50_Index_	6,750.40	▼	-45.32	▼	-0.67%		

http://finance.yahoo.com/news/us-stocks-slip-tech-slumps-following-apple-earnings-142427406.html

*US stocks rise, shaking off tech slump, after Fed stands pat*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” U.S. stocks rose Wednesday after the Federal Reserve left its key interest rate unchanged, as investors expected. Energy companies climbed again as the price of oil came close to a six-month high. Technology stocks were battered following weak results from Apple and Twitter.

Stocks opened mostly lower in muted early trading, but they moved higher after the Fed released its decision on interest rates. Bond yields fell and investors bought high-dividend phone and utility companies instead. Thanks to the losses for tech stocks, the Nasdaq composite index fell for the fifth day in a row.

Investors didn't expect the Fed to raise interest rates this month, and they're starting to think that interest rates won't go up in June, the Fed's next meeting, either. But David Kelly, chief global strategist JPMorgan Chase, said that might be a problem because the Fed didn't make its intentions clear on Wednesday.

"There's nothing in this to tell us when the next rate hike is going to be," Kelly said. He thinks the market will react badly if the Fed raises interest rates without advising investors that it's coming.

"What they can't do is just coast into the June meeting having not given anybody any indication at all," Kelly said.

The Dow Jones industrial average picked up 51.23 points, or 0.3 percent, to 18,041.55. The Standard & Poor's 500 index rose 3.45 points, or 0.2 percent, to 2,095.15. The Nasdaq composite index dropped 25.14 points, or 0.5 percent, to 4,863.14.

The Federal Reserve noted that economic growth in the U.S. has slowed down over the last month, but the job market is getting stronger. While the Fed also said the global economy slowed, its statement suggests it is becoming less concerned about the effects of the slowing global economy on the U.S.

Bond prices were rising before the Fed's announcement and moved even higher after its statement was released. Higher prices mean lower yields, and the yield on the 10-year U.S. Treasury note fell to 1.86 percent from 1.93 percent. Lower bond yields made telecommunications and utility stocks more appealing to investors seeking income. Verizon Communications gained $1.25, or 2.5 percent, to $51.69. NRG Energy added 43 cents, or 3 percent, to $14.98.

The price of crude oil started with big gains, turned lower, and then bounced back. It wound up at its highest price since early December. Benchmark U.S. crude oil rose $1.29, or 2.9 percent, to close at $45.33 a barrel in New York. Brent crude, the international standard, added $1.44, or 3.1 percent, to $47.18 a barrel in London.

Among energy stocks, Anadarko Petroleum added $2.42, or 4.6 percent, to $54.78 and Diamond Offshore Drilling gained 98 cents, or 4.1 percent, to $24.63.

Tech stocks fell after Apple, the most valuable public company in the world, said iPhone sales declined in the first quarter. That hadn't happened since iPhones went on sale in 2007. Apple also reported its first decline in quarterly revenue since 2003 and forecast similar results in the current quarter. Its stock skidded $6.53, or 6.3 percent, to $97.82.

Microblogging site Twitter dropped $2.89, or 16.3 percent, to $14.86 after its first-quarter revenue fell short of expectations and its outlook disappointed investors. Its stock has fallen 71 percent in the last year.

Earnings reports were responsible for much of the day's action. Aerospace giant Boeing was the biggest gainer on the Dow average. The company reported mixed first-quarter results, with weaker-than-expected earnings but strong sales. The stock rose $3.84, or 2.9 percent, to $137.08.

Medical device maker Boston Scientific climbed to its highest price in 10 years after it after it swung to a profit in the first quarter, with earnings and sales that were better than expected. It also raised its projections for the year. The stock gained $2.20, or 11.2 percent, to $21.89.

Buffalo Wild Wings tumbled $15.62, or 10.8 percent, to $129 after the chain's sales fell short of analyst projections. Chipotle Mexican Grill fell $28.70, or 6.4 percent, to $417.22. Chipotle posted its first loss as a public company as sales plunged following an E. coli outbreak and Norovirus scare.

Tax preparer H&R Block slumped $3.23, or 13.6 percent, to $20.59 after the company said it handled fewer returns this year than it did in 2015 and announced a series of executive changes.

DreamWorks Animation rocketed $5.08, or 18.7 percent, to $32.20 on reports the company behind the "Shrek" and "Kung Fu Panda" franchises might be acquired by Comcast. Comcast stock rose 2 cents to $61.30.

Struggling Internet company Yahoo will add four directors backed by activist investment firm Starboard Value to its board. That ends a potential proxy fight between Yahoo and Starboard. The new directors include Starboard CEO Jeffrey Smith. Two current Yahoo directors won't run for new terms. Yahoo stock lost 16 cents to $36.95.

The price of gold rose $7 to $1,250.40 an ounce. Silver gained 18 cents, or 1 percent, to $17.29 an ounce. Copper fell 3 cents, or 1.1 percent, to $2.22 a pound.

In other energy trading, wholesale gasoline edged up 1 cent to $1.58 a gallon. Heating oil jumped 5 cents, or 3.5 percent, to $1.38 a gallon. Natural gas fell 4 cents, or 1.8 percent, to $2 per 1,000 cubic feet.

The CAC-40 in France finished 0.6 percent higher, and Britain's FTSE 100 was also up 0.6 percent. Germany's DAX rose 0.4 percent. Japan's benchmark Nikkei 225 closed 0.4 percent lower. Hong Kong's Hang Seng fell 0.2 percent.

The dollar slipped to 111.34 yen from 111.41 yen. The euro rose to $1.1323 from $1.1291.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-57.12	points or ▼	-0.32%	on	Friday, April 29, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,773.64	▼	-57.12	▼	-0.32%		
	Nasdaq____	4,775.36	▼	-29.93	▼	-0.62%		
	S&P_500___	2,065.30	▼	-10.51	▼	-0.51%		
	30_Yr_Bond____	2.67	▼	-0.03	▼	-1.04%		

NYSE Volume	 4,677,933,000 	 	 	 	 	  		 
Nasdaq Volume	 2,525,519,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,241.89	▼	-80.51	▼	-1.27%		
	DAX_____	10,038.97	▼	-282.18	▼	-2.73%		
	CAC_40__	4,428.96	▼	-128.40	▼	-2.82%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,316.00	▲	26.60	▲	0.50%		
	Shanghai_Comp	2,938.32	▼	-7.27	▼	-0.25%		
	Taiwan_Weight	8,377.90	▼	-95.97	▼	-1.13%		
	Nikkei_225___	16,666.05	▼	-624.44	▼	-3.61%		
	Hang_Seng.__	21,067.05	▼	-320.98	▼	-1.50%		
	Strait_Times.__	2,838.52	▼	-23.78	▼	-0.83%		
	NZX_50_Index_	6,820.58	▲	30.60	▲	0.45%		

http://finance.yahoo.com/news/us-stocks-skid-weak-health-142838308.html

*US stocks hit by health care woes but avoid bigger losses*
Associated Press By MARLEY JAY

NEW YORK (AP) — U.S. stocks fell Friday as health care and technology companies continued to report weak first-quarter results, but thanks to some late buying, they managed to avoid major losses.

Stocks opened lower and fell further throughout the morning, extending a downturn from the day before. That followed a rout in European indexes. Late in the day bond prices rose again, sending yields lower and pushing investors to buy utility and phone company stocks.

Dan Suzuki, senior U.S. equities strategist at Bank of America, said investors don't like what they're seeing in the results from technology companies.

"A lot of investors have been disappointed by results from tech this earnings season," he said. So they are turning to bond-like stocks such as phone and utility companies, as well as small- and mid-cap stocks, which struggled in 2015.

"Everything that was working through last year has been an underperformer this year, and vice versa," he said.

The Dow Jones industrial average gave up 57.12 points, or 0.3 percent, to 17,773.64. It was down as much as 178 points earlier in the day. The Standard & Poor's 500 index fell 10.51 points, or 0.5 percent, to 2,065.30. The Nasdaq composite index lost 29.93 points, or 0.6 percent, to 4,775.36. That was its seventh decline in a row.

Health care companies took the biggest losses after a bout of weak earnings reports. Biotech drugmaker Gilead Sciences said its results were hurt by big discounts and rebates on its costly hepatitis C medicines, and its stock lost $8.79, or 9.1 percent, to $88.21. Rival biotech giant Amgen reported relatively solid results, but fell $2.26, or 1.4 percent, to $158.30.

Health insurer Molina Healthcare slashed its full-year guidance because of higher medical care costs in Ohio and Texas, expenses related to recent acquisitions, and pharmacy costs, especially in Puerto Rico. It plunged $12.46, or 19.4 percent, to $51.76.

Molecular diagnostics company Cepheid shed $6.86, or 19.4 percent, to $28.54 as analysts were disappointed with its revenue projections for the second quarter.

Tech stocks continued to slide. After its profit fell short of estimates, electronic storage company Seagate Technology lost $5.13, or 19.1 percent, to $21.77. Hard drive maker Western Digital dropped $5.19, or 11.3 percent, to $40.87. Apple, which is in a deep two-week slide, fell another $1.09, or 1.1 percent, to $93.75. Like the Nasdaq, Apple has fallen for seven days in a row.

Bond prices rose slightly, and yields continue to slip. The yield on the 10-year U.S. Treasury note fell to 1.82 percent from 1.83 percent. Utility companies made the biggest gains, as NextEra Energy added $1.11, or 1 percent, to $117.58.

While earnings hurt tech and health care companies, better results at consumer companies sent those stocks higher. E-commerce giant Amazon said its revenue jumped 28 percent in the first quarter, and the company turned a far bigger profit than analysts expected. Cloud-based Amazon Web Services performed well. Amazon rose $57.59, or 9.6 percent, to $656.59.

Consumer products maker Newell Brands gave a strong outlook for the year after its reported solid results in the first quarter, and its stock rose $2.12, or 4.9 percent, to $45.54. Online travel company Expedia reported a bigger adjusted profit and greater sales than expected, and its stock added $8.86, or 8.3 percent, to $115.77.

Digital TV listing company Rovi said it will buy digital video recording company TiVo for about $1.1 billion in cash and stock. TiVo gained 56 cents, or 5.9 percent, to $9.98 and Rovi rose 27 cents, or 1.6 percent, to $17.62.

Stocks in Europe took big losses. Official data showed the eurozone economy rose by a surprising 0.6 percent in the first quarter, but investors were concerned that inflation slipped in April. France's CAC 40 fell 2.8 percent and Germany's DAX lost 2.7 percent. Britain's FTSE 100 shed 1.3 percent.

The yen continued to gain strength, as it has done over the last few months. It jumped Thursday after the Bank of Japan held off on implementing any new economic stimulus measures. On Friday the dollar fell to 106.73 yen from 108.09 yen. Japanese markets were closed for a holiday Friday. In Hong Kong, the Hang Seng index fell 1.5 percent and Seoul's Kospi gave up 0.3 percent.

Metals prices continued to rise. Gold advanced $24.10, or 1.9 percent, to $1,290.50 an ounce and silver rose 23 cents, or 1.3 percent, to $17.82 an ounce. Gold is trading at 15-month highs. Copper picked up 5 cents, or 2.3 percent, to $2.28 a pound.

Benchmark U.S. crude lost 11 cents to $45.92 a barrel in New York. Brent crude, used to price international oils, fell 1 cent to $48.13 a barrel in London.

In other energy trading, wholesale gasoline lost 1 cent to $1.58 a gallon. Heating oil fell 3 cents, or 1.9 percent, to $1.38 a gallon. Natural gas rose 10 cents, or 4.8 percent, to $2.18 per 1,000 cubic feet.

The euro rose to $1.1454 from $1.1351.

7583


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	117.52	points or ▲	0.66%	on	Monday, May 2, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,891.16	▲	117.52	▲	0.66%		
	Nasdaq____	4,817.59	▲	42.24	▲	0.88%		
	S&P_500___	2,081.43	▲	16.13	▲	0.78%		
	30_Yr_Bond____	2.72	▲	0.05	▲	1.95%		

NYSE Volume	 3,824,833,000 	 	 	 	 	  		 
Nasdaq Volume	 2,749,500,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,241.89	▼	-80.51	▼	-1.27%		
	DAX_____	10,123.27	▲	84.30	▲	0.84%		
	CAC_40__	4,442.75	▲	13.79	▲	0.31%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,312.00	▼	-4.00	▼	-0.08%		
	Shanghai_Comp	2,938.32	▼	-7.27	▼	-0.25%		
	Taiwan_Weight	8,377.90	▼	-95.97	▼	-1.13%		
	Nikkei_225___	16,147.38	▼	-518.67	▼	-3.11%		
	Hang_Seng.__	21,067.05	▼	-320.98	▼	-1.50%		
	Strait_Times.__	2,838.52	▲	0.00	▲	0.00%		
	NZX_50_Index_	6,791.82	▼	-28.76	▼	-0.42%		

http://finance.yahoo.com/news/us-st..._ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3#

*US stocks rise as some tech companies recover*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- U.S. stock indexes moved solidly higher Monday afternoon, recovering some of last week's steep declines. Recently battered technology stocks such as Amazon.com and Microsoft all posted gains, helping end a seven-day losing streak in the Nasdaq composite.

The Dow Jones industrial average rose 117.52 points, or 0.7 percent, to 17,891.16. The Standard & Poor's 500 index added 16.13 points, or 0.8 percent, to 2,081.43 and the Nasdaq rose 42.24 points, or 0.9 percent, to 4,817.59.

Notably, one major technology stock that did not participate in Monday's gains was Apple, which closed down 10 cents, or 0.1 percent, to $93.64. Apple has fallen eight days in a row, and has now lost 16 percent of its value in the last two weeks.

Technology stocks have been an unexpected drag on the market in the last week. Apple reported its first quarterly decline in profits in years, which sent ripples through the stock market. Investors have been moving into safer investments. The Dow Jones utility index, a collection of 15 dividend-paying utility companies, is up more than 14 percent this year.

"There's a risk-off sentiment in the market right now," said David Lebovitz, a global market strategist at J.P. Morgan Funds.

Overseas, Japan's Nikkei stock index fell more than 3 percent overnight as markets there reopened after a holiday. The market fell as Japanese investors continued to react negatively to the Bank of Japan's decision to leave interest rates unchanged. The Japanese yen also continues to climb sharply, which hurts Japanese exporters.

"It's a bit concerning. Investors are beginning to question whether monetary policy can really push Japan's economy forward and generate growth," Lebovitz said.

Among individual companies, Halliburton rose after a $34 billion merger with Baker Hughes was called off following antitrust concerns from the Justice Department. Halliburton rose 74 cents, or 1.8 percent, to $42.05. Baker Hughes fell 96 cents, or 2 percent, to $47.40.

Apollo Education Group, which runs the University of Phoenix, rose sharply after a group of investors raised their bid for the company. Apollo rose 97 cents, or 12.4 percent, to $8.77.

A private survey out Monday showed U.S. manufacturing expanded in April for the second straight month, suggesting that factories are adapting to a strong dollar and economic weakness overseas. The Institute for Supply Management said its manufacturing index came in at 50.8 last month, down from March's 51.8 reading but above the threshold of 50 that signals growth.

Benchmark U.S. crude oil fell $1.14 to close at $44.78 per barrel in New York. Brent crude, which is used to price international oils, fell $1.54 to close at $45.83 a barrel in London.

In other energy trading in New York, wholesale gasoline fell four cents to $1.56 a gallon, heating oil lose three cents to $1.36 a gallon and natural gas dropped 14 cents to $2.04 per 1,000 cubic feet.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.86 percent from 1.82 percent late Friday. The dollar slipped to 106.45 yen from 106.73 yen while the euro strengthened to $1.1523 from $1.1454.

Precious and industrial metals futures ended mixed. Gold rose $5.30 to $1,295.80 an ounce, silver fell 13 cents to $17.66 an ounce and copper lost two cents to $2.26 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-140.25	points or ▼	-0.78%	on	Tuesday, May 3, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,750.91	▼	-140.25	▼	-0.78%		
	Nasdaq____	4,763.22	▼	-54.37	▼	-1.13%		
	S&P_500___	2,063.37	▼	-18.06	▼	-0.87%		
	30_Yr_Bond____	2.66	▼	-0.06	▼	-2.13%		

NYSE Volume	 4,162,140,000 	 	 	 	 	  		 
Nasdaq Volume	 2,883,107,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,185.59	▼	-56.30	▼	-0.90%		
	DAX_____	9,926.77	▼	-196.50	▼	-1.94%		
	CAC_40__	4,371.98	▼	-70.77	▼	-1.59%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,415.00	▲	103.00	▲	1.94%		
	Shanghai_Comp	2,992.64	▲	54.32	▲	1.85%		
	Taiwan_Weight	8,294.12	▼	-83.78	▼	-1.00%		
	Nikkei_225___	16,147.38	▼	-518.67	▼	-3.11%		
	Hang_Seng.__	20,676.94	▼	-390.11	▼	-1.85%		
	Strait_Times.__	2,811.20	▼	-27.32	▼	-0.96%		
	NZX_50_Index_	6,843.01	▲	51.19	▲	0.75%		

http://finance.yahoo.com/news/weak-...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3


*Slump in Chinese manufacturing weighs on markets

Renewed concerns about economic growth in Europe and China weigh on markets, causing stocks to erase all of the previous day's gains*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Renewed concerns about economic growth abroad ”” specifically Europe and China ”” weighed on markets on Tuesday, causing stocks to erase all of the previous day's gains.

The Dow Jones industrial average lost 140.25 points, or 0.8 percent, to 17,750.91. The Standard & Poor's 500 index lost 18.06 points, or 0.9 percent, to 2,063.37 and the Nasdaq composite lost 54.37 points, or 1.1 percent, to 4,763.22.

Stocks started lower and remained there most of the day, with the Dow moving down 100 to 200 points throughout the day.

The selling started in Asia, when a Chinese purchasing managers' index for manufacturing declined to 49.4 last month from 49.7 in March. A number below 50 indicates that manufacturing is contracting. Worries about China were largely responsible for a bout of turmoil in global financial markets early this year.

Those concerns were compounded after European officials trimmed their economic growth forecasts for the 19 countries that share the euro currency, citing an unpredictable global outlook marked by political uncertainty and weakness in emerging markets.

Although Europe's economy was surprisingly strong in the first quarter, when it regained the size it was before the 2008 financial crisis, EU Commissioner Pierre Moscovici said the recovery "remains uneven."

"It's a reminder that the global economy is not doing particularly well," said Ian Winer, director of equity trading at Wedbush Securities. Winer noted the sell-off in energy and metals, most notably oil and copper, which are economically sensitive commodities that would fall if Chinese factories were to idle.

The global economic worries caused more losses for two of the hardest-hit sectors in the U.S. stock market this year: energy and banks. Energy companies in the S&P 500 slumped 2.2 percent, the most in the index, and financial stocks fell 1.3 percent.

Chevron dropped $1.99, or 2 percent, to $101.32. JPMorgan Chase lost $1.23, or 2 percent, to $62.56. Goldman Sachs fell $3.04, or 1.8 percent, to $163.14.

Pfizer jumped 90 cents, or 3 percent, to $33.70 after the company reported solid first quarter earnings that beat analysts' estimates. Pfizer saw big sales gains in some of its newest drugs, including Lyrica and the vaccine Prevnar 13.

In energy, benchmark U.S. crude oil lost $1.13, or 2.5 percent, to close at $43.65 a barrel on the New York Mercantile Exchange. Brent crude, the international standard, fell 86 cents, or 1.9 percent, to close at $44.97 a barrel in London. In other energy trading in New York, wholesale gasoline fell 5 cents to $1.51 a gallon, heating oil fell two cents to $1.33 a gallon and natural gas rose four cents to $2.086 per 1,000 cubic feet.

U.S. government bond prices rose sharply. The yield on the 10-year Treasury note fell to 1.80 percent from 1.87 percent late Monday. The euro fell to $1.1508 from $1.1523. The dollar rose slightly to 106.47 yen from 106.45 yen.

Gold fell $4 to $1,291.80 an ounce. Silver fell 18 cents to $17.47 an ounce and copper fell 5 cents to $2.21 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-99.65	points or ▼	-0.56%	on	Wednesday, May 4, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,651.26	▼	-99.65	▼	-0.56%		
	Nasdaq____	4,725.64	▼	-37.58	▼	-0.79%		
	S&P_500___	2,051.12	▼	-12.25	▼	-0.59%		
	30_Yr_Bond____	2.64	▼	-0.02	▼	-0.71%		

NYSE Volume	 4,041,778,750 	 	 	 	 	  		 
Nasdaq Volume	 2,407,929,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,112.02	▼	-73.57	▼	-1.19%		
	DAX_____	9,828.25	▼	-98.52	▼	-0.99%		
	CAC_40__	4,324.23	▼	-47.75	▼	-1.09%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,335.60	▼	-79.40	▼	-1.47%		
	Shanghai_Comp	2,991.27	▼	-1.37	▼	-0.05%		
	Taiwan_Weight	8,185.47	▼	-108.65	▼	-1.31%		
	Nikkei_225___	16,147.38	▼	-518.67	▼	-3.11%		
	Hang_Seng.__	20,525.83	▼	-151.11	▼	-0.73%		
	Strait_Times.__	2,773.07	▼	-38.13	▼	-1.36%		
	NZX_50_Index_	6,824.50	▼	-18.51	▼	-0.27%		

http://finance.yahoo.com/news/weak-..._ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3#

*Weak US hiring report sends stocks lower on Wall Street

U.S. and global stock indexes moved lower a second day Wednesday following a dismal report on job creation that gave investors concern over the state of the economy*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- U.S. and global stock indexes moved lower a second day Wednesday following a dismal report on job creation that gave investors concern over the state of the economy. The data followed a round of economic news out of China and Europe a day earlier that also suggested sluggish growth.

The Dow Jones industrial average lost 99.65 points, or 0.6 percent, to 17,651.26. The Standard & Poor's 500 index lost 12.25 points, or 0.6 percent, to 2,051.12 and the Nasdaq composite fell 37.58 points, or 0.8 percent, to 4,725.64.

Stocks started lower and remained there throughout the day, following a survey by payroll processor ADP which showed U.S. companies hired workers at the slowest pace in three years last month.

ADP said private companies hired 156,000 workers in April, down from 194,000 in March. The figure was significantly worse than expected. The weak reading bodes poorly for the broader job market survey due out Friday from the Labor Department, which is one of the most closely watched reports on the economic calendar. Economists expect the government to report that U.S. employers created 200,000 jobs last month and that the unemployment rate remained held steady at 5 percent.

Other economic indicators out of Europe were disappointing on Wednesday. Retail sales fell 0.5 percent during March from the previous month. Investors had expected a more modest decline of 0.1 percent.

Financial information company Markit said its purchasing managers' index for the region, a gauge of business activity, slipped to 53 in April from 53.1 the previous month. Though still above the 50 threshold indicating expansion, the reading has fallen from the start of the year.

While stocks are well off the lows they hit in February, investors remain reluctant to make heavy bets back into the stock market. The S&P 500 has bounced off the 2,100-point mark several times in the last six months, most recently as last week. That means investors feel stocks are too expensive to make big bets, and are waiting to see more positive data or earnings, traders say.

"We've run out of gas here. ... We are going to need some sort of catalyst to move this market higher, but I don't know what that catalyst might be. Earnings have been OK, but not strong enough to say it's time to buy," said Rob Bernstone, a managing director in equity trading at Credit Suisse.

Among individual companies, Intercontinental Exchange, the parent company of the New York Stock Exchange, jumped $17.51, or 7 percent, to $258.49 after the company announced it would not bid for the London Stock Exchange. The announcement came at the same time Intercontinental was reporting first quarter earnings, which were better than expected.

Travel company Priceline sank $101.60, or 7.5 percent, to $1,253.04 after the company warned that profits would slow in the second quarter.

Benchmark U.S. crude added 13 cents to close at $43.78 per barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, fell 35 cents to close at $44.62 a barrel in London. In other energy trading in New York, wholesale gasoline fell two cents to $1.49 a barrel, heating oil fell half a penny to $1.33 a gallon and natural gas rose six cents to $2.14 per 1,000 cubic feet.

U.S. bond prices rose. The yield on the 10-year U.S. Treasury note edged down to 1.77 percent from 1.80 percent. The dollar rose to 106.93 yen from 106.41 yen late Tuesday. The euro fell to $1.1498 from $1.1505.

Gold fell $17.40 to $1,274.40 an ounce, silver fell 20 cents to $17.28 an ounce and copper fell 3 cents to $2.18 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	9.45	points or ▲	0.05%	on	Thursday, May 5, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,660.71	▲	9.45	▲	0.05%		
	Nasdaq____	4,717.09	▼	-8.55	▼	-0.18%		
	S&P_500___	2,050.63	▼	-0.49	▼	-0.02%		
	30_Yr_Bond____	2.61	▼	-0.04	▼	-1.33%		

NYSE Volume	 3,998,210,750 	 	 	 	 	  		 
Nasdaq Volume	 2,503,428,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,117.25	▲	5.23	▲	0.09%		
	DAX_____	9,851.86	▲	23.61	▲	0.24%		
	CAC_40__	4,319.46	▼	-4.77	▼	-0.11%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,344.50	▲	8.90	▲	0.17%		
	Shanghai_Comp	2,997.84	▲	6.57	▲	0.22%		
	Taiwan_Weight	8,167.96	▼	-17.51	▼	-0.21%		
	Nikkei_225___	16,147.38	▼	-518.67	▼	-3.11%		
	Hang_Seng.__	20,449.82	▼	-76.01	▼	-0.37%		
	Strait_Times.__	2,767.81	▼	-5.26	▼	-0.19%		
	NZX_50_Index_	6,876.48	▲	51.98	▲	0.76%		

http://finance.yahoo.com/news/globa..._ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3#

*Stocks close flat as investors wait for Friday's jobs report*
Associated Press By KEN SWEET

NEW YORK (AP) ”” Stocks closed mostly unchanged on Thursday, as an earlier rally in oil prices faded and investors waited for the release of a closely watched jobs report on Friday.

The Dow Jones industrial average rose 9.45 points, or less than 0.1 percent, to 17,660.71. The Standard & Poor's 500 index fell 0.49 of a point, less than 0.1 percent, to 2,050.63 and the Nasdaq composite lost 8.55 points, or 0.2 percent, to 4,717.09.

As the week comes to a close, the market's focus is turning to the U.S. jobs report for April due out Friday. Investors will be watching closely to see if it could have any impact on the Federal Reserve's plans for raising interest rates at its next policy meeting in June. Economists expect the report to show jobs grew by 200,000 last month while the unemployment rate stayed at 5 percent.

A private sector jobs report released by ADP on Wednesday showed that private employers created only 156,000 jobs last month, which was significantly below economists' estimates.

Ahead of Friday's numbers, investors remain reluctant to make any significant bets. Several traders and strategists have said there is no major catalyst to move the market higher at the moment.

"There's just too many unknowns right now, and there's nothing to get people going in the market. The jobs numbers may provide some guidance," said J.J. Kinahan, chief strategist at TD Ameritrade.

Crude oil prices gave up much of an early gain that had been driven by concerns that production could be impacted by a massive fire that swept through the Canadian oil sands hub of Fort McMurray, Alberta.

Benchmark U.S. crude oil rose 54 cents, or 1.2 percent, to $44.32 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, was up 39 cents at $45.01 a barrel in London. Oil had been up nearly 4 percent earlier in the day.

Despite what turned out to be a relatively modest rise in oil prices, energy companies were still the best performing part of the market. The energy component of the S&P 500 rose 0.7 percent.

A number of companies fell after releasing earnings and forecasts that didn't impress investors. Electric car maker Tesla sank $11.03, or 5 percent, to $211.53 after reporting a much wider loss than Wall Street analysts were expecting. The company suffered parts delays for its new Model X SUV.

Cereal maker Kellogg sank $1.97, or 2.6 percent, to $75.05 after reporting declines in both sales and earnings in the first quarter. SeaWorld sank 98 cents, or 5 percent, to $18.49 after reporting a wider first-quarter loss as expenses climbed.

In other energy commodities, wholesale gasoline rose less than 1 cent to $1.49 a gallon, heating oil was unchanged at $1.33 and natural gas fell 7 cents to $2.076 per thousand cubic feet.

Bond prices rose, sending yields lower. The yield on the 10-year Treasury note fell to 1.74 percent from 1.78 percent a day earlier. The euro fell to $1.1404 from $1.1498 and the dollar rose to 107.28 yen from 106.93 yen.

In metals, gold fell $2.10 to $1,272.30 an ounce, silver rose 3 cents to $17.33 an ounce and copper fell 3 cents to $2.15 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	79.92	points or ▲	0.45%	on	Friday, May 6, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,740.63	▲	79.92	▲	0.45%		
	Nasdaq____	4,736.16	▲	19.06	▲	0.40%		
	S&P_500___	2,057.14	▲	6.51	▲	0.32%		
	30_Yr_Bond____	2.63	▲	0.02	▲	0.84%		

NYSE Volume	 3,780,450,250 	 	 	 	 	  		 
Nasdaq Volume	 2,152,550,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,125.70	▲	8.45	▲	0.14%		
	DAX_____	9,869.95	▲	18.09	▲	0.18%		
	CAC_40__	4,301.24	▼	-18.22	▼	-0.42%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,358.60	▲	14.10	▲	0.26%		
	Shanghai_Comp	2,913.25	▼	-84.59	▼	-2.82%		
	Taiwan_Weight	8,146.43	▼	-21.53	▼	-0.26%		
	Nikkei_225___	16,106.72	▼	-40.66	▼	-0.25%		
	Hang_Seng.__	20,109.87	▼	-339.95	▼	-1.66%		
	Strait_Times.__	2,730.80	▼	-37.01	▼	-1.34%		
	NZX_50_Index_	6,898.11	▲	21.63	▲	0.31%		

http://finance.yahoo.com/news/stocks-slip-jobs-report-shows-hiring-slowdown-140958296--finance.html#

*Stocks shake off earlier loss to close higher*
Associated Press By KEN SWEET

NEW YORK (AP) — Stocks closed modestly higher on Friday, ending three days of losses, after the U.S. government's disappointing jobs report added to speculation that the Federal Reserve might keep interest rates low for another year.

Investors were also weighing tepid U.S. earnings reports and persistent weakness in the global economy.

The Dow Jones industrial average rose 79.92 points, or 0.5 percent, to 17,740.63. The Standard & Poor's 500 index rose 6.51 points, or 0.3 percent, to 2,057.14 and the Nasdaq composite rose 19.06 points, or 0.4 percent, to 4,736.16.

The three major indexes ended the week slightly lower, despite Friday's gains.

Stocks started the day lower after the Labor Department said U.S. employers created just 160,000 jobs last month, significantly below the 200,000 that economists were expecting.

While one month does not make a trend, there have been a few reports this week from around the world that suggested weakness in the global economy. A closely watched Chinese manufacturing survey showed production contracted last month, and European Union officials trimmed their forecasts for growth across the 19 countries that use the euro.

"Once again, we received evidence that the U.S. economy is just bumbling along and will most likely remain so until after the U.S. presidential election," said Tom di Galoma, a managing director of fixed income at Seaport Global.

As the day progressed, stocks turned higher in the early afternoon and stayed there the rest of the day. In a way, the bad news of the jobs report is good news for stock market investors, who have benefited from more than seven years of extremely low interest rates. Low interest rates make stocks look cheaper when compared to bonds.

Di Galoma and others said that the April jobs report significantly reduces the possibility that the Federal Reserve will interest rates in June or even later this year.

"In my view, a rate hike potential this year is nearing zero probability," he said.

That view appears to be widely held. Fed fund futures, which are securities that allow traders to bet on which way the Fed will move interest rates, show that a majority of investors do not expect the Fed to raise rates until February 2017.

"The weakening of jobs growth, should it persist as we think it will, will make the Fed's job more challenging this year, and any rate hikes will occur at a much slower pace than originally anticipated at the start of the year, and may not happen at all," said Rick Rieder, BlackRock's chief investment officer of fixed income.

Immediately after the release of the jobs report, bond prices jumped and interest rates moved sharply lower, but as the day wore on, the market reversed course. U.S. government bond prices ended lower, and the yield on the benchmark U.S. 10-year Treasury note rose to 1.78 percent from 1.74 percent the day before.

The euro rose to $1.1401 from $1.1398 and the dollar declined to 107.13 yen from 107.25 yen.

In company news, payment processor Square sank $2.83, or 22 percent, to $10.22. The company, run by Twitter founder Jack Dorsey, reported a larger than expected quarterly loss and reported sharply higher expenses.

In commodities, benchmark U.S. crude oil rose 34 cents to close at $44.66 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, climbed 36 cents to close at $45.37 a barrel in London.

Wholesale gasoline rose less than 1 cent to $1.496 a gallon, heating oil rose 1 cent to $1.337 a gallon and natural gas rose 2.5 cents to $2.101 per thousand cubic feet.

Gold rose $21.70 to $1,294 an ounce, silver rose 20 cents to $17.53 an ounce and copper was unchanged at $2.15 a pound.

8495


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-34.72	points or ▼	-0.20%	on	Monday, May 9, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,705.91	▼	-34.72	▼	-0.20%		
	Nasdaq____	4,750.21	▲	14.05	▲	0.30%		
	S&P_500___	2,058.69	▲	1.55	▲	0.08%		
	30_Yr_Bond____	2.62	▼	-0.01	▼	-0.27%		

NYSE Volume	 3,779,869,000 	 	 	 	 	  		 
Nasdaq Volume	 1,655,173,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,114.81	▼	-10.89	▼	-0.18%		
	DAX_____	9,980.49	▲	110.54	▲	1.12%		
	CAC_40__	4,322.81	▲	21.57	▲	0.50%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,387.80	▲	29.20	▲	0.54%		
	Shanghai_Comp	2,832.11	▼	-81.14	▼	-2.79%		
	Taiwan_Weight	8,131.83	▼	-14.60	▼	-0.18%		
	Nikkei_225___	16,216.03	▲	109.31	▲	0.68%		
	Hang_Seng.__	20,156.81	▲	46.94	▲	0.23%		
	Strait_Times.__	2,766.06	▲	35.26	▲	1.29%		
	NZX_50_Index_	6,885.05	▼	-13.06	▼	-0.19%		

http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*US stocks finish a little higher as health care jumps*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” U.S. stocks finished just a bit higher Monday as gains for drug companies were almost canceled by sharp losses for metals and energy companies.

Coming off two weeks of losses, stocks traded in a narrow range. Drug company stocks, which have been under pressure recently over concerns they'll have trouble raising prices for medicines, moved sharply higher. The energy market was shaken up and the price of oil fell as Saudi Arabia replaced its oil minister. Metals companies tumbled on renewed worries about China's economy.

"The S&P 500 is kind of stuck in a range and it's been in that range, really, since the middle of March," said Randy Frederick, managing director of trading and derivatives at Charles Schwab. After Friday's weak jobs report and an uninspiring earnings season, Frederick thinks stocks will stay where they are for now.

The Dow Jones industrial average edged down 34.72 points, or 0.2 percent, to 17,705.91 as machinery maker Caterpillar and energy giant Chevron lost ground. The Standard & Poor's 500 index picked up 1.55 points to 2,058.69. The Nasdaq composite index rose 14.05 points, or 0.3 percent, to 4,750.21.

Health care stocks, one of the worst-performing areas of the market this year, made a broad rally. Botox maker Allergan jumped after reporting encouraging results from a late-stage clinical study of a treatment for uterine fibroids, a noncancerous growth in the uterus. The stock climbed $12.06, or 6 percent, to $213.71. Mallinckrodt, which has tumbled in recent months as investors worried about its ability to raise drug prices, added $3.45, or 6.1 percent, to $59.85.

Health care real estate investment trust HCP rose after a strong earnings report. HCP gained $1.44, or 4.2 percent, to $35.99. Health care products giant Johnson & Johnson picked up 98 cents to $113.72.

U.S. crude fell $1.22, or 2.7 percent, to $43.44 a barrel in New York. Brent crude, the benchmark for international oil prices, fell $1.74, or 3.8 percent, to $43.63 a barrel in London. Among energy companies, Chevron gave up $1.51, or 1.5 percent, to $100.35 and ConocoPhillips fell $1.11, or 2.6 percent, to $41.65.

The energy market was unsettled after the government of Saudi Arabia replaced its longtime oil minister over the weekend. Ali al-Naimi held that position for 20 years and was a powerful voice within OPEC. He was dismissed as the government plans a series of reforms that are intended to overhaul the kingdom's economy as it deals with the effects of a steep drop in oil prices.

Reports showed that China's exports fell by 1.8 percent in April from a year earlier and imports plunged 10.9 percent. Both totals were weaker than analysts expected. China is a critical market for fuels and metals, and investors worried that the import and export data means demand is getting weaker.

"If the growth is slowing, that reduces the demand for all sorts of metals," said Frederick. He added that the Chinese yuan has weakened recently, and it could fall further if the Federal Reserve raises interest rates soon.

Gold dropped $27.40, or 2.1 percent, to $1,266.60 an ounce and silver lost 44 cents, or 2.5 percent, to $17.09 an ounce. Copper sank 5 cents, or 2.2 percent, to $2.11 a pound.

Gold producer Newmont Mining fell $2.30, or 6.7 percent, to $31.83. Gold and copper miner Freeport-McMoRan lost $1.27, or 10.8 percent, to $10.52 and aluminum producer Alcoa fell 58 cents, or 5.8 percent, to $9.46.

Krispy Kreme Doughnuts agreed to be taken private by coffee giant JAB Beech for about $1.35 billion, or $21 per share. The company's board approved the sale and shareholders will vote on it in June. Krispy Kreme's stock jumped $4.10, or 24.3 percent, to $20.96.

LendingClub tumbled $2.48, or 34.9 percent, to 4.62 after its chairman and CEO resigned. The company, an online marketplace that connects borrowers and investors, said Renaud Laplanche left after an internal review of the sale of $22 million in loans to an investor.

LendingClub said he violated company business practices and didn't fully disclose his actions during a company review.

Meat producer Tyson Foods raised its annual forecasts after its second-quarter results surpassed Wall Street estimates. Its stock added 99 cents, or 1.5 percent, to $68.24. Competitor Hormel Foods rose $1.19, or 3.1 percent, to $39.74.

CBS and Viacom slumped after a judge dismissed a case that challenged the mental competency of Sumner Redstone, who controls both companies. An ex-girlfriend had challenged the 92-year-old's ability to make decisions about his medical care. Viacom's fell 89 cents, or 2.2 percent, to $40.43 and CBS lost $1.68, or 2.9 percent, to $56.

Germany's DAX stock index jumped after figures showed factory orders climbed in March. February's figures were also revised higher. The DAX advanced 1.1 percent while the CAC-40 in France rose 0.5 percent. The FTSE 100 index of leading British shares dipped 0.2 percent. The Shanghai Composite Index sank 2.8 percent. Seoul's Kospi was off 0.4 percent while Tokyo's Nikkei 225 advanced 0.7 percent.

Bond prices continued to rise. The yield on the 10-year U.S. Treasury note fell to 1.75 percent from 1.78 percent late Friday. The dollar rose to 108.48 yen from 107.13 yen. The euro slipped to $1.1389 from $1.1401.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	222.44	points or ▲	1.26%	on	Tuesday, May 10, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,928.35	▲	222.44	▲	1.26%		
	Nasdaq____	4,809.88	▲	59.67	▲	1.26%		
	S&P_500___	2,084.39	▲	25.70	▲	1.25%		
	30_Yr_Bond____	2.62	▼	-0.01	▼	-0.23%		

NYSE Volume	 3,559,799,500 	 	 	 	 	  		 
Nasdaq Volume	 2,193,036,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,156.65	▲	41.84	▲	0.68%		
	DAX_____	10,045.44	▲	64.95	▲	0.65%		
	CAC_40__	4,338.21	▲	15.40	▲	0.36%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,403.90	▲	16.10	▲	0.30%		
	Shanghai_Comp	2,832.59	▲	0.48	▲	0.02%		
	Taiwan_Weight	8,156.29	▲	24.46	▲	0.30%		
	Nikkei_225___	16,565.19	▲	349.16	▲	2.15%		
	Hang_Seng.__	20,242.68	▲	85.87	▲	0.43%		
	Strait_Times.__	2,741.15	▼	-24.91	▼	-0.90%		
	NZX_50_Index_	6,909.40	▲	24.35	▲	0.35%		

http://finance.yahoo.com/news/us-stocks-jump-prospect-china-144029748.html

*US stocks make biggest leap since March on China stimulus*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” U.S. stocks surged to their biggest gain in two months on Tuesday after the Chinese government moved to stimulate the world's second-largest economy. That gave a big boost to energy, chemicals and machinery companies.

For months investors have worried about the state of China's economy, which is slowing down after a quarter-century of rapid growth. The prospect of greater sales to China lifted companies that make basic building materials, chemicals, building and mining equipment, and aircraft. The price of oil matched a six-month high and companies that drill for oil and refine it also rose. All 10 industrial sectors of the Standard & Poor's 500 index finished higher.

Investors have been taking money out of stocks lately, said Bob Doll, chief equity strategist and senior portfolio manager at Nuveen Asset Management. He said they were glad to see China's government do something about its economy.

"It's just another small step on the way of China attempting to address the issue," he said. "This is a ray of sunshine which is needed."

The Dow Jones industrial average jumped 222.44 points, or 1.3 percent, to 17,928.35. The Standard & Poor's 500 gained 25.70 points, or 1.3 percent, to 2,048.39. The Nasdaq composite index rose 59.67 points, or 1.3 percent, to 4,809.88.

Stocks overseas traded mostly higher after China's cabinet approved measures to boost exports as Beijing struggles to reduce gluts in many industries and reverse an export decline that threatens to cause job losses. The moves include more bank lending, greater tax rebates, and support for export credits.

General Electric picked up 61 cents, or 2 percent, to $30.48 and aerospace giant Boeing rose $2.62, or 2 percent, to $134.72. Companies that make chemicals and other basic materials also rose. Dow Chemical gained 70 cents, or 1.4 percent, to $51.54 and Martin Marietta Materials rose $5.60, or 3.1 percent, to $187.85.

U.S. crude rose $1.22, or 2.8 percent, to $44.66 a barrel in New York. Brent crude, the benchmark for international oil prices, gained $1.89, or 4.3 percent, to $45.52 a barrel in London. That canceled out losses for oil on Monday, and U.S. crude matched its highest price in six months.

Among energy companies, Exxon Mobil added $1.42, or 1.6 percent, to $89.99 and Hess climbed $3.24, or 5.9 percent, to $57.71.

Economic news from the U.S. was mixed. The Labor Department said job openings in March rose by the largest amount in eight months, but total hiring slowed down. The agency said job openings grew 2.7 percent to about 5.8 million. However the slower pace of hiring suggests employers were more reluctant to fill open positions as the economy grew at a slow pace.

Amazon reached an all-time high after it launched a self-publishing video platform called Video Direct. The move could make money for Amazon and budding filmmakers in the same way YouTube has created a community of online celebrities. Amazon climbed $23.50, or 3.5 percent, to $703.25.

International Flavors & Fragrances, which makes ingredients for the food, cosmetics and consumer products industries, climbed to an all-time high after it reported strong results for the first quarter. The stock rose $6.35, or 5.3 percent, to $126.24.

Allergan, the maker of Botox and other medicines said it will buy back up to $10 billion in stock with proceeds from sale of its generic drug business. That sale is expected to close later this year. The stock jumped $11.29, or 5.3 percent, to $225 and is up 12 percent this week.

Retailer Gap reported April sales that were far weaker than expected as its recent struggles appeared to get worse. The parent of Gap, Old Navy and Banana Republic forecast a smaller profit than analysts had projected, and Gap said it is considering options for its overseas business. The stock fell $2.51, or 11.5 percent, to $19.30 and set its lowest price since early 2012.

SolarCity reported a larger first-quarter loss than Wall Street expected and cut its annual projections. The solar panel installer said bookings aren't as strong as it expected and regulations held back its business. The stock shed $4.69, or 20.8 percent, to $17.82.

Stocks overseas mostly traded higher. Japan's benchmark Nikkei 225 added 2.2 percent as the yen weakened, a boon for the nation's exporters. The dollar rose to 109.30 yen from 108.48 yen. The dollar has been very strong in recent years but has lost a bit of strength compared to the yen in recent months.

South Korea's Kospi added 0.8 percent and the Shanghai Composite was little changed. Germany's DAX and Britain's FTSE 100 both gained 0.7 percent and the CAC 40 in France added 0.4 percent.

Bond yields were stable and the yield on the 10-year U.S. Treasury note stayed at 1.75 percent. The euro declined to $1.1370 from $1.1389.

In other energy trading, wholesale gasoline gained 4 cents, or 3 percent, to $1.49 a gallon. Heating oil rose 5 cents, or 4 percent, to $1.34 a gallon. Natural gas rose 6 cents, or 2.9 percent, to $2.16 per 1,000 cubic feet.

Metals prices were little changed. Gold fell $1.80 to $1,264.80 an ounce. Silver held steady at $17.09 an ounce. Copper fell 1 cent to $2.09 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-217.23	points or ▼	-1.21%	on	Wednesday, May 11, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,711.12	▼	-217.23	▼	-1.21%		
	Nasdaq____	4,760.69	▼	-49.19	▼	-1.02%		
	S&P_500___	2,064.46	▼	-19.93	▼	-0.96%		
	30_Yr_Bond____	2.58	▼	-0.03	▼	-1.26%		

NYSE Volume	 3,780,001,250 	 	 	 	 	  		 
Nasdaq Volume	 1,901,411,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,162.49	▲	5.84	▲	0.09%		
	DAX_____	9,975.32	▼	-70.12	▼	-0.70%		
	CAC_40__	4,316.67	▼	-21.54	▼	-0.50%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,434.80	▲	30.90	▲	0.57%		
	Shanghai_Comp	2,837.04	▲	4.45	▲	0.16%		
	Taiwan_Weight	8,135.56	▼	-20.73	▼	-0.25%		
	Nikkei_225___	16,579.01	▲	13.82	▲	0.08%		
	Hang_Seng.__	20,055.29	▼	-187.39	▼	-0.93%		
	Strait_Times.__	2,732.87	▼	-8.28	▼	-0.30%		
	NZX_50_Index_	6,944.34	▲	34.94	▲	0.51%		

http://finance.yahoo.com/news/us-stocks-skid-macys-drags-143343606.html

*Retailers lead a broad decline in stocks as Macy's plunges*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” A rout in retail stocks pulled U.S. indexes down on Wednesday. Macy's, the largest U.S. department store chain, slashed its annual profit forecast after it reported a steep drop in earnings. Office Depot and Staples took big losses after a judge blocked their plans to merge.

Macy's had its biggest one-day loss since 2008, and its troubles dragged down department store, clothing, jewelry and accessories companies. Coming off their biggest gain in two months, stocks were lower all day, and most parts of the market slumped. Health care stocks took some of the biggest losses.

Utilities companies traded higher as bond prices rose and yields fell, and energy companies rose with oil prices. The price of oil climbed after the U.S. Department of Energy surprised investors by reporting that oil stockpiles shrank last week, and production also fell.

Retailers have a lot to worry about, said Kate Warne, investment strategist for Edward Jones. Competition within the industry is getting more intense as stores deal with more Internet-based competition and sell bigger ranges of products to keep shoppers from going elsewhere. Meanwhile, higher oil prices could push up the cost of gas and crimp consumer spending.

"Consumers aren't spending the way they used to spend, especially on apparel, and they're not spending as much at the mall," Warne said.

The Dow Jones industrial average sank 217.23 points, or 1.2 percent, to 17,711.12. The Standard & Poor's 500 index fell 19.93 points, or 1 percent, to 2,064.46. The Nasdaq composite index lost 49.19 points, or 1 percent, to 4,760.69.

Macy's fell to its lowest price since December 2011 after it posted disappointing sales and said shoppers spent less on clothes and international tourists spent less. Macy's also sharply reduced its annual profit forecast. The stock sank $5.61, or 15.2 percent, to $31.38.

Retailers including Michael Kors, Nordstrom, Kohl's and Tiffany also took big losses. Watch and accessories maker Fossil Group also disclosed disappointing sales and said conditions have gotten worse. It cut its projections for the year, and its stock dropped $11.66, or 29.1 percent, to $28.44.

Office Depot and Staples plunged after calling off their proposed merger. A federal judge ruled that competition for office supplies would be reduced if the largest office-supply chain combined with the second-largest, supporting the government's effort to stop the $6.3 billion deal. Office Depot nosedived $2.46, or 40.4 percent, to $3.63 and reached its lowest price in three years. Staples skidded $1.90, or 18.3 percent, to $8.46.

Online rival Amazon, which is trading at all-time highs, rose $10.16, or 1.4 percent, to $713.23.

Already trading at its highest price in six months, benchmark U.S. crude rose again after the government reported a surprise decline of 3.4 million barrels in supplies for last week. Analysts were expecting an increase. U.S. oil production also fell, and is down 6 percent compared to a year ago.

U.S. crude rose $1.57, or 3.5 percent, to $46.23 a barrel in New York. Brent crude, the international benchmark, jumped $2.08, or 4.6 percent, to $47.60 a barrel in London.

Energy companies also traded higher. ConocoPhillips rose 81 cents, or 1.9 percent, to $43.68 and Halliburton gained 70 cents, or 1.8 percent, to $39.54.

Disney posted weaker-than-expected earnings and sales. Its parks and consumer products divisions didn't do as well as analysts hoped, and the company said it's discontinuing its Disney Infinity video game line because the changing market is too risky. Its stock lost $4.31, or 4 percent, to $102.29.

Video game maker Electronic Arts' quarterly profit and sales were far stronger than expected, and it gave a strong forecast for its current fiscal year. The stock jumped $8.84, or 13.7 percent, to $73.38.

Drug companies traded lower as regulators continued to scrutinize their business practices. Merck and Johnson & Johnson both said the U.S. Attorney's Office for the Southern District of New York is looking into their relationships with pharmacy benefits management companies, which handle drug benefits for insurers and other health care beneficiaries.

Endo Pharmaceuticals, which makes the pain drug Percocet, disclosed a similar inquiry earlier this week and its stock lost $1.97, or 12.7 percent, to $13.55. Vertex Pharmaceuticals fell $5.45, or 6.1 percent, to $83.63.

Pet food maker Blue Buffalo Pet Products advanced after it reported strong quarterly results and boosted its sales forecast for the year. The stock added $1.93, or 8.1 percent, to $25.81.

Fast food chain Wendy's raised its annual projections after reporting strong first-quarter results, but cautioned that a key sales measurement won't meet its expectations in the second quarter. The stock gave up 99 cents, or 8.9 percent, to $10.19.

In other energy trading, wholesale gasoline rose 10 cents, or 6.4 percent, to $1.58 a gallon. Heating oil increased 6 cents, or 4.4 percent, to $1.40 a gallon. Natural gas rose 2 cents to $2.17 per 1,000 cubic feet.

The price of gold rose $10.70 to $1,275.50 an ounce. Silver gained 23 cents, or 1.3 percent, to $17.32 an ounce. Copper picked up 1 cent to $2.10 a pound.

Germany's DAX slid 0.7 percent and France's CAC 40 was 0.5 percent lower. Britain's FTSE 100 rose 0.1 percent. Japan's Nikkei 225 edged up 0.1 percent, while South Korea's Kospi fell 0.1 percent.

Bond prices rose. The yield on the 10-year U.S. Treasury note fell to 1.73 percent from 1.76 percent. The dollar fell to 108.49 yen from 109.30 yen. The euro rose to $1.1425 from $1.1370.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	9.38	points or ▲	0.05%	on	Thursday, May 12, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,720.50	▲	9.38	▲	0.05%		
	Nasdaq____	4,737.33	▼	-23.35	▼	-0.49%		
	S&P_500___	2,064.11	▼	-0.35	▼	-0.02%		
	30_Yr_Bond____	2.61	▲	0.03	▲	1.16%		

NYSE Volume	 3,768,451,750 	 	 	 	 	  		 
Nasdaq Volume	 2,020,635,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,104.19	▼	-58.30	▼	-0.95%		
	DAX_____	9,862.12	▼	-113.20	▼	-1.13%		
	CAC_40__	4,293.27	▼	-23.40	▼	-0.54%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,423.40	▼	-11.40	▼	-0.21%		
	Shanghai_Comp	2,835.86	▼	-1.18	▼	-0.04%		
	Taiwan_Weight	8,108.05	▼	-27.51	▼	-0.34%		
	Nikkei_225___	16,646.34	▲	67.33	▲	0.41%		
	Hang_Seng.__	19,915.46	▼	-139.83	▼	-0.70%		
	Strait_Times.__	2,745.39	▲	12.52	▲	0.46%		
	NZX_50_Index_	6,923.17	▼	-21.17	▼	-0.30%		

http://finance.yahoo.com/news/us-stocks-bounce-back-recent-143807888.html

*US stocks finish little change after weak employment report

Stocks hardly budge after the US government said applications for unemployment benefits spiked last week*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- U.S. stocks ended pretty much where they started Thursday after spending the day cycling up and down. Investors bought safe picks like phone companies and food makers after a surprisingly weak report on the job market.

Stocks started the day higher. Materials companies climbed after Monsanto, an agricultural giant, soared on reports it might be acquired. The market turned lower in late morning trading as investors worried about the Labor Department's report, which showed an unexpected jump in the number of people seeking unemployment benefits. Oil waverd between gains and losses, but finished higher for the sixth time in seven days.

"The market is following oil," said John Cannally, chief economic strategist for LPL Financial. Cannally thinks investors don't have a lot of confidence in the global economy right now, and will be watching subsequent reports out of China to see if there are more signs that the world's second-largest economy is continuing to slow down.

The Dow Jones industrial average rose 9.38 points, less than 0.1 percent, to 17,720.50. The Standard & Poor's 500 index dipped 0.35 points to 2,064.11. The Nasdaq composite index fell 23.35 points, or 0.5 percent, to 4,737.33.

The Labor Department said applications for unemployment benefits rose to the highest level since February 2015. That comes after a disappointing jobs report for April. Applications rose by 20,000 to 294,000. Despite the increase, they have remained below 300,000 for more than a year.

The biggest gains went to phone companies, chemicals makers and consumer stocks. AT&T increased 37 cents to $39.55. Among consumer companies, Kraft Heinz rose $1.14, or 1.3 percent, to $86.34 and Coca-Cola added 37 cents to $45.83.

Monsanto led materials companies higher after Bloomberg News reported that German chemical and pharmaceutical company Bayer might make an offer for it. That follows a wave of consolidation in the chemicals industry: DuPont and Dow Chemical agreed to combine last year, and ChemChina agreed to buy Syngenta of Switzerland in March. Monsanto jumped $7.58, or 8.4 percent, to $97.92.

Benchmark U.S. oil, which is at its highest price since early November, gained 47 cents, or 1 percent, to $46.70 a barrel in New York. Brent crude, the benchmark for international oil prices, rose 48 cents, or 1 percent, to $48.08 a barrel in London.

The International Energy Agency said it thinks the global oil surplus will shrink by the year's end, bringing supply and demand much closer to balance. The price of oil dropped from around $100 a barrel in mid-2014 to as low as $26 a barrel in February and has rallied since then.

Department store Kohl's said its sales dropped and its income was weighed down by high costs. The company's results suffered as it discounted some items to clear out inventory. The stock fell $3.55, or 9.2 percent, to $35.15.

Retailers have been struggling for months. Macy's slashed its profit forecast Wednesday following its quarterly report, and Gap posted worse-than-expected April sales on Monday.

Apple fell to its lowest price in almost two years. Its stock slid $2.17, or 2.3 percent, to $90.34.

Biotech drug companies slumped on continued scrutiny of their pricing policies. Valeant Pharmaceuticals International fell on reports the company has not reduced the price of some of its medications, something it said it would do earlier this year. The stock gave up $1.42, or 5.4 percent, to $24.93. Botox maker Allergan fell $6.69, or 3 percent, to $216.02 and multiple sclerosis treatment maker Biogen declined $4.54, or 1.7 percent, to $262.71. UnitedHealth, the largest U.S. health insurer, gave up 95 cents to $129.74 and Aetna lost $3.66, or 3.3 percent, to $108.60.

Data security company Infoblox surged $3.73, or 24.4 percent, to $19.04 after Bloomberg reported that a private equity firm offered to buy it.

Burger chain Jack in the Box reported strong results, including better sales at its Qdoba Mexican restaurants. Its stock jumped 9.88, or 15.2 percent, to $75.02.

Payment card company CPI Card Group reported disappointing results as shipments of chip-enabled cards were lower than expected. The company said the market is struggling in the U.S. and cut its guidance because credit card companies aren't buying and issuing as many of the cards as expected.

Its stock skidded $3.66, or 47.7 percent, to $4.01. The company's IPO priced at $10 per share in October.

In other energy trading, wholesale gasoline was little changed at $1.58 a gallon. Heating oil was little changed at $1.39 a gallon. Natural gas lost 2 cents to $2.16 per 1,000 cubic feet.

The price of gold dipped $4.30 to $1,271.20 an ounce. Silver lost 22 cents, or 1.2 percent, to $17.10 an ounce. Copper fell 3 cents, or 1.4 percent, to $2.07 a pound.

Germany's DAX fell 1.1 percent and the FTSE 100 in Britain was down 0.4 percent. France's CAC 40 lost 0.2 percent. Japan's Nikkei 225 stock index rose 0.4 percent and the Hang Seng index of Hong Kong dropped 0.7 percent. South Korea's Kospi lost 0.1 percent.

Bond prices fell and the yield on the 10-year U.S. Treasury note rose to 1.75 percent from 1.73 percent. The dollar edged up to 109.14 yen from 108.49 yen. The euro slipped to $1.1373 from $1.1425.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-185.18	points or ▼	-1.05%	on	Friday, May 13, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,535.32	▼	-185.18	▼	-1.05%		
	Nasdaq____	4,717.68	▼	-19.66	▼	-0.41%		
	S&P_500___	2,046.61	▼	-17.50	▼	-0.85%		
	30_Yr_Bond____	2.55	▼	-0.06	▼	-2.26%		

NYSE Volume	 3,570,471,000 	 	 	 	 	  		 
Nasdaq Volume	 1,657,084,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,138.50	▲	34.31	▲	0.56%		
	DAX_____	9,952.90	▲	90.78	▲	0.92%		
	CAC_40__	4,319.99	▲	26.72	▲	0.62%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,396.30	▼	-27.10	▼	-0.50%		
	Shanghai_Comp	2,827.11	▼	-8.75	▼	-0.31%		
	Taiwan_Weight	8,053.69	▼	-54.36	▼	-0.67%		
	Nikkei_225___	16,412.21	▼	-234.13	▼	-1.41%		
	Hang_Seng.__	19,719.29	▼	-196.17	▼	-0.99%		
	Strait_Times.__	2,734.91	▼	-10.48	▼	-0.38%		
	NZX_50_Index_	6,916.57	▼	-6.60	▼	-0.10%		

http://finance.yahoo.com/news/us-stocks-mostly-slide-retail-141348272.html#

*US stocks take a late tumble as retail suffering continues

US stocks edge lower on the last day of a turbulent week*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) — A late slump Friday pulled U.S. stocks to their third straight weekly loss. Companies that make clothing, food and household goods dropped on more bad news from retailers, and energy companies fell with the price of oil.

Stocks started falling just before noon and continued to slump the rest of the day. Machinery and equipment companies took some of the biggest losses. Retailers fell again after Nordstrom and J.C. Penney became the latest department store operators to report plunging first-quarter sales. Bond prices jumped and yields fell, which hurt bank stocks.

"The rebound and recovery rally has largely run its course," said Mike Ryan, chief investment strategist for UBS Wealth Management Americas. With investors worrying about weak corporate profits, the health of the global economy and the Federal Reserve's plans, Ryan said "It's going to be more of a grind" in the coming months.

The Dow Jones industrial average gave up 185.18 points, or 1.1 percent, to 17,535.32. The Standard & Poor's 500 index fell 17.62 points, or 0.9 percent, to 2,046.49. The Nasdaq composite index lost 19.66 points, or 0.4 percent, to 4,717.68.

The S&P 500 has fallen 2.2 percent over the last three weeks, bringing the index back almost to breakeven for the year.

Wrapping up a brutal week, Nordstrom gave retailers yet another gut punch when it slashed its annual projections and said a key measure of sales fell for the first time in almost seven years. Nordstrom stock tumbled $6.07, or 13.4 percent, to $39.16 and hit a four-year low. J.C. Penney's and Dillard's also reported results that came up short of analysts' estimates.

A Commerce Department released Friday confirmed that consumers are spending more, just not at department stores. Sales at those stores have fallen 2 percent over the last year while online and catalog sales have jumped 10 percent. Nordstrom tumbled 19 percent this week, while Macy's and Kohl's, which reported first-quarter results earlier in the week, fell 17 percent and 14 percent, respectively.

"It's been a very challenging week for retailers," said Rob Samuels, a UBS Wealth Management strategist. He said consumers are spending money on home improvement goods and trips and other items, but they're not spending as much on clothes. And competition to department stores just keeps growing, as shoppers turn to smaller web-based brands.

"It's not just Amazon anymore," he said.

Consumer stocks slumped after advancing on Thursday. Wal-Mart gave up $1.91, or 2.8 percent, to $64.94 and Costco sank $2.22, or 1.5 percent, to $144.50. PepsiCo fell after investment firm Trian disclosed that it had sold its stake in the company. The beverage maker lost $1.92, or 1.8 percent, to $104.18.

U.S. government bond prices jumped in the afternoon, and the yield on the 10-year U.S. Treasury note dipped to 1.70 percent from 1.76 percent. When bond yields fall it tends to hurt banks, since rates on many kinds of long-term loans such as mortgages are tied to bond yields.

Wells Fargo slid 96 cents, or 2 percent, to $48.24. Bank of America declined 2 cents, or 1.8 percent, to $13.88 and Citigroup fell 89 cents, or 2 percent, to $43.11.

Benchmark U.S. oil fell 49 cents, or 1 percent, to $46.21 a barrel in New York, while Brent crude, the benchmark for international oil prices, lost 2 cents to $47.83 a barrel in London. That pulled energy stocks down. Exxon Mobil lost $1.01, or 1.1 percent, to $88.66 and Murphy Oil fell $1.21, or 4 percent, to $29.14.

The Commerce Department report showed that total retail sales in the U.S. improved in April, suggesting spending might have rebounded after a weak first quarter. Retail sales have climbed 3 percent over the last year.

Graphics chip and processor maker Nvidia surpassed Wall Street forecasts in the first quarter, and its stock jumped $5.41, or 15.2 percent, to $40.98.

Shake Shack's profit and sales beat estimates, in part because consumers snapped up its new fried chicken sandwich. The burger chain raised its estimates for sales and said it will open more stores than it previously planned. The stock gained $3.34, or 9.7 percent, to $37.60.

Metals prices were little changed. Gold rose $1.50 to $1,262.70 an ounce. Silver added 3 cents to $17.13 an ounce. Copper remained at $2.07 a pound.

In other energy trading, wholesale gasoline inched up to $1.59 a gallon. Heating oil rose 1 cent to $1.40 a gallon. Natural gas lost 6 cents, or 2.7 percent, to $2.10 per 1,000 cubic feet.

The euro fell to $1.1307 from $1.1373 and the dollar slid to 108.63 yen from 109.14 yen.

Germany's DAX rose 0.9 percent and the CAC-40 in France gained 0.3 percent. The FTSE 100 in Britain was 0.6 percent higher. Japan's benchmark Nikkei 255 index lost 1.4 percent and South Korea's Kospi shed 0.5 percent. Hong Kong's Hang Seng fell 1 percent.

9215


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	175.39	points or ▲	1.00%	on	Monday, May 16, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,710.71	▲	175.39	▲	1.00%		
	Nasdaq____	4,775.46	▲	57.78	▲	1.22%		
	S&P_500___	2,066.66	▲	20.05	▲	0.98%		
	30_Yr_Bond____	2.60	▲	0.04	▲	1.72%		

NYSE Volume	 3,482,675,750 	 	 	 	 	  		 
Nasdaq Volume	 1,716,970,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,151.40	▲	12.90	▲	0.21%		
	DAX_____	9,952.90	▲	90.78	▲	0.92%		
	CAC_40__	4,312.28	▼	-7.71	▼	-0.18%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,420.30	▲	24.00	▲	0.44%		
	Shanghai_Comp	2,850.86	▲	23.75	▲	0.84%		
	Taiwan_Weight	8,067.60	▲	13.91	▲	0.17%		
	Nikkei_225___	16,466.40	▲	54.19	▲	0.33%		
	Hang_Seng.__	19,883.95	▲	164.66	▲	0.84%		
	Strait_Times.__	2,736.06	▲	1.15	▲	0.04%		
	NZX_50_Index_	6,914.13	▼	-2.44	▼	-0.04%		

http://finance.yahoo.com/news/us-stocks-gain-early-trading-crude-oil-rises-143308077.html

*US stocks climb in broad rally as crude oil rises*
Associated Press By BERNARD CONDON

NEW YORK (AP) ”” A jump in oil prices and some deal news helped send stocks up broadly Monday, breaking a three-day losing streak.

Investors bought from the start of trading, pushing oil drillers and other energy stocks up sharply. A bullish oil report from Goldman Sachs helped send benchmark U.S. crude up 3.3 percent to its highest close in six months. All 10 sectors of the Standard and Poor's 500 index rose.

Major indexes were also boosted by news that billionaire Warren Buffett had invested in Apple, triggering a 3.7 percent jump in that stock. Apple is the most heavily weighted member of the S&P 500 and so a rise in its stock has an outsize impact on the index.

The S&P 500 rose 20.05 points, or 1 percent, to 2,066.66. The Dow Jones industrial average rose 175.39 points, or 1 percent, to 17,710.71. The Nasdaq composite index gained 57.78 points, or 1.2 percent, to 4,775.46

The report from Goldman argued that the glut in oil supplies has turned into a "deficit," and so prices could continue to rise. The sunny forecast, plus oil production troubles in Nigeria, pushed U.S. crude up $1.51 to $47.72 a barrel. A plunge in oil prices since mid-2014 has hammered energy company earnings, one reason why overall S&P 500 earnings have not risen since that year.

When oil prices climb, investors think the "earnings drought is at an end," said Tim Courtney, chief investment officer of Exencial Wealth Advisors. "Whatever happens to energy drives all the markets."

Energy shares in the S&P 500 rose 1.6 percent on Monday. Marathon Oil jumped 4 percent and Devon Energy also rose 4 percent.

In deal news, Tribune Publishing soared $2.61, or 23 percent, to $14.08 after USA Today owner Gannett raised its offer to buy the publisher. The new offer comes one week after Tribune, which owns the Los Angeles Times, Chicago Tribune and other newspapers, adopted a "poison pill" plan to help it remain independent. Gannett rose 2.2 percent.

U.S. interest rate policy could impact stocks this week. In addition to planned remarks from several Federal Reserve officials, the Fed is scheduled on Wednesday to release minutes of its last meeting.

Investors will be looking for clues as to whether the central bank is likely to raise rates from low levels that have helped push up stocks and other assets since the financial crisis. A report on Friday showed retail sales rose a solid 3 percent last month compared with the previous year, suggesting the Fed may be more likely to raise rates.

Anna Rathbun, director of research for investment manager CBIZ Retirement Plan Services, said investors are jittery, notwithstanding Monday's climb.

If the Fed raised rates, "the question is, 'What then?'" she said. "Will stocks and commodity prices fall again?"

The central bank's next two-day policy meeting begins June 14.

In other stocks making moves, Memorial Resource Development rose 41 cents, or 3 percent, to $13.86 per share after rival natural gas producer Range Resources said it would buy Memorial for $3.3 billion. Range Resources plunged $4.32, or 10 percent, to $37.69.

Anacor Pharmaceuticals rocketed 57 percent to $100.67, a gain of $36.64, after drug giant Pfizer announced a deal to buy the maker of a topical eczema treatment for $5.2 billion. Pfizer rose 19 cents, or 0.6 percent, $33.38.

Warren Buffett's Berkshire Hathaway bought 9.8 million Apple shares in the first quarter, a stake worth nearly $1 billion, as the tech giant traded near its lowest price in almost two years, according to regulatory documents released Monday. Apple rose $3.36 to $93.88.

In overseas markets, Britain's FTSE 100 inched up 0.2 percent while the CAC-40 in France slipped 0.2 percent. Trading in Germany was closed for a holiday.

In other energy markets, Brent crude, used to price international oils, rose $1.14, or 2.4 percent, to $48.97 a barrel in London. In New York, wholesale gasoline rose 2 cents to $1.61 a gallon, heating oil rose 4 cents to $1.44 a gallon and natural gas fell 7 cents to $2.03 per 1,000 cubic feet.

Precious and industrial metals prices closed higher. Gold gained $1.50 to $1,274.20 an ounce, silver rose 2 cents to $17.15 an ounce and copper added 2 cents to $2.09 a pound.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 1.76 percent from 1.70 percent. The dollar rose to 108.98 yen from 108.63 yen and the euro rose to $1.1320 from $1.1307.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-180.73	points or ▼	-1.02%	on	Tuesday, May 17, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,529.98	▼	-180.73	▼	-1.02%		
	Nasdaq____	4,715.73	▼	-59.73	▼	-1.25%		
	S&P_500___	2,047.21	▼	-19.45	▼	-0.94%		
	30_Yr_Bond____	2.59	▼	-0.01	▼	-0.39%		

NYSE Volume	 4,085,861,750 	 	 	 	 	  		 
Nasdaq Volume	 2,212,251,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,167.77	▲	16.37	▲	0.27%		
	DAX_____	9,890.19	▼	-62.71	▼	-0.63%		
	CAC_40__	4,297.57	▼	-14.71	▼	-0.34%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,458.50	▲	38.20	▲	0.70%		
	Shanghai_Comp	2,843.68	▼	-7.18	▼	-0.25%		
	Taiwan_Weight	8,140.48	▲	72.88	▲	0.90%		
	Nikkei_225___	16,652.80	▲	186.40	▲	1.13%		
	Hang_Seng.__	20,118.80	▲	234.85	▲	1.18%		
	Strait_Times.__	2,781.11	▲	45.05	▲	1.65%		
	NZX_50_Index_	6,974.87	▲	60.74	▲	0.88%		

http://finance.yahoo.com/news/stocks-lower-morning-sizable-gains-142521893.html

*Stocks sink, erasing gains from a rally the day before

US stocks fall across industries, erasing gains from a rally the previous day*
Associated Press By Bernard Condon, AP Business Writer

NEW YORK (AP) -- Stocks fell across industries on Tuesday, erasing gains from a rally a day earlier, as investors sifted through economic reports for clues as to when the era of low interest rates may end.

Consumer goods companies and utilities fell the most. Kraft Heinz fell 4 percent and Consolidated Edison dropped 2 percent. Nine of the 10 sectors of the Standard and Poor's 500 index ended lower. Energy stocks rose as the price of crude oil rose to a seven-month high.

The Dow Jones industrial average lost 180.73 points, or 1 percent, to 17,529.98. The S&P 500 index gave up 19.45 points, or 0.9 percent, to 2,047.21. The Nasdaq composite pulled back 59.73 points, or 1.3 percent, to 4,715.73.

Diane Jaffee, a senior portfolio manager at TCW Group, said investors are worried that a pickup in inflation suggests the Federal Reserve might raise interest rates soon, threatening the still-sluggish economy. The Fed next meets on rates in June.

"The specter of rising rates in June may be making investors queasy," said Jaffe. The economy is at a "tipping point."

The Labor Department reported Tuesday that the cost of living in April climbed by the most in more than three years. A separate report said builders are breaking ground on new homes at a faster past than last year.

Investors worry that reports like those could prompt the Fed to raise rates. That could hurt high-dividend stocks like utilities.

Adding to the jitters, Politico quoted Atlanta Fed President Dennis Lockhart saying that "action could be taken" at the Fed's June policy meeting.

Investors will get a better idea of the Fed's thinking on Wednesday when the central bank releases minutes from its last meeting in April.

Among stocks making big moves, LendingClub plunged 34 cents, or nine percent, to $3.60 after the Department of Justice opened an investigation. The company forced out its founder last week after an internal review found irregularities with the way loans were sold.

The stock traded as high as $25 a share in late 2014, shortly after the company went public.

Pandora Media rose 61 cents, or six percent, to $10.59 after hedge fund Corvex Management raised its stake and began advocating for a sale of the streaming music company. Corvex said that putting the company on the block is the best answer to rising competition from Spotify and Apple.

Another report showed U.S. industrial production posted the biggest increase in April since November 2014 after dropping the previous two months. Industrial output, which includes output at factories, mines and utilities, rose 0.7 percent from March.

Still, production is modest. The report said that factories are operating at 75.3 percent of capacity, well below their long-run average.

"We've got an economy in slow-down mode, with an increase in inflation," said James Abate, chief investment officer at Centre Funds. "That is the worst possible situation."

In Europe, stocks were mixed. France's CAC 40 fell 0.3 percent, while Germany's DAX shed 0.6 percent. Britain's FTSE 100 gained 0.3 percent.

In Asian markets, Japan's Nikkei 225 rose 1.1 percent as the yen continued to weaken, a plus for Japanese exporters. Hong Kong's Hang Seng gained 1.2 percent.

U.S. crude rose 59 cents to $48.31 a barrel in New York. Brent crude, used to price international oils, rose 31 cents to $49.28 a barrel in London. Wholesale gasoline rose 3 cents to $1.63 a gallon, heating oil also rose 3 cents to $1.47 a gallon and natural gas rose 2 cents to $2.05 per 1,000 cubic feet.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 1.77 percent from 1.75 percent. The dollar rose to 109.07 yen from 108.98 yen and the euro fell to $1.1317 from $1.1320.

Precious and industrial metals futures closed mostly higher. Gold rose $2.70 to $1,276.90 an ounce and silver gained 10 cents to $17.25 an ounce. Copper was flat at $2.09 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-3.36	points or ▼	-0.02%	on	Wednesday, May 18, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,526.62	▼	-3.36	▼	-0.02%		
	Nasdaq____	4,739.12	▲	23.39	▲	0.50%		
	S&P_500___	2,047.63	▲	0.42	▲	0.02%		
	30_Yr_Bond____	2.68	▲	0.10	▲	3.75%		

NYSE Volume	 4,050,487,250 	 	 	 	 	  		 
Nasdaq Volume	 1,865,123,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,165.80	▼	-1.97	▼	-0.03%		
	DAX_____	9,943.23	▲	53.04	▲	0.54%		
	CAC_40__	4,319.30	▲	21.73	▲	0.51%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,420.50	▼	-38.00	▼	-0.70%		
	Shanghai_Comp	2,807.51	▼	-36.17	▼	-1.27%		
	Taiwan_Weight	8,159.68	▲	19.20	▲	0.24%		
	Nikkei_225___	16,644.69	▼	-8.11	▼	-0.05%		
	Hang_Seng.__	19,826.41	▼	-292.39	▼	-1.45%		
	Strait_Times.__	2,777.11	▼	-4.00	▼	-0.14%		
	NZX_50_Index_	6,982.63	▲	7.76	▲	0.11%		

http://finance.yahoo.com/news/stock...ing-ahead-fed-minutes-142004563--finance.html
*
Stocks end mostly unchanged after key Fed minutes released*
Associated Press By BERNARD CONDON

NEW YORK (AP) ”” New signs that interest rates may be heading higher sent stocks flitting between gains and losses Wednesday, but the major indexes ended up closing pretty much where they started.

Stocks held onto gains through the first part of the day, but in the afternoon the Federal Reserve released minutes of its last meeting suggesting it was more open to raising rates than many had thought. Caught unaware, investors started dumping utilities and other high dividend payers that had been in favor for much of the year.

Bond prices fell sharply, sending long-term interest rates higher.

By the close, the Standard and Poor's 500 index managed to eke out a gain, up 0.42 points, just 0.02 percent higher, to 2,047.63. The Dow Jones industrial average slipped 3.36 points, less 0.1 percent, to 17,526.62. The Nasdaq composite climbed 23.39 points, or 0.5 percent, to 4,739.12.

Utilities fell 1.9 percent on the Fed news, but banks rose because they can make more money on loans if rates go higher. JPMorgan Chase jumped 4 percent and Goldman Sachs climbed 3 percent.

"The Fed is clearly in the driver's seat" of the stock market, said Ernie Cecilia, chief investment officer of Bryn Mawr Trust. It's impacting prices "more than any other kind of input out there."

The minutes of the Fed's last meeting showed a widely held view among policymakers that it "likely would be appropriate" to raise rates at its June meeting as long as the economy and labor markets continue to strengthen and inflation shows signs of accelerating.

Some investors are worried that a rise in rates will hurt a sluggish U.S. economy that grew just 0.5 percent in the first quarter.

"There is little room for error," said Tom Cassidy, chief investment officer at Univest Wealth Management Division. "When you're growing slowly, any hiccup could result in a recession."

Among stocks making big moves, Target plunged $5.61, or 7.6 percent, to $68 after reporting that sales had slowed. The company also gave a forecast that disappointed investors.

Shares of many other retailers followed the company lower in what is shaping up to be a miserable year for the sector. Wal-Mart dropped $1.95, or 3 percent, to $63.15 and Costco Wholesale lost $2.31, or 1.6 percent, to $141.29.

Lowe's bucked the trend, rising $2.53, or 3 percent, to $78.60 on surging first-quarter profits and higher comparable-store sales. The home improvement chain also raised its outlook for the year as it benefits from a strengthening U.S. housing market.

In overseas markets, Germany's DAX and France's CAX 40 each rose 0.5 percent. Britain's FTSE 100 was unchanged. Japan's Nikkei 225 index was flat. Hong Kong's Hang Seng lost 1.5 percent.

U.S. crude oil fell 12 cents, or 0.2 percent, to close at $48.19 a barrel in New York. Brent crude, used to price international oils, dropped 35 cents, or 0.7 percent, to $48.93 a barrel in London.

In other trading, wholesale gasoline rose 1 cent to $1.65 a gallon, heating oil gained 2 cents to $1.48 a gallon and natural gas fell 5 cents to $2 per 1,000 cubic feet.

The yield on the 10-year Treasury note rose to 1.86 percent from 1.71 percent late Tuesday, a large move. The dollar rose to 110 yen from 109.07 yen. The euro fell to $1.1229 from $1.1317.

Precious and industrial metals futures closed broadly lower. Gold fell $2.50 to $1,274.40 an ounce, silver lost 12 cents to $17.13 an ounce and copper dropped 1 cent to $2.08 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-91.22	points or ▼	-0.52%	on	Thursday, May 19, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,435.40	▼	-91.22	▼	-0.52%		
	Nasdaq____	4,712.53	▼	-26.59	▼	-0.56%		
	S&P_500___	2,040.04	▼	-7.59	▼	-0.37%		
	30_Yr_Bond____	2.63	▼	-0.05	▼	-1.83%		

NYSE Volume	 3,812,548,250 	 	 	 	 	  		 
Nasdaq Volume	 1,715,419,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,053.35	▼	-112.45	▼	-1.82%		
	DAX_____	9,795.89	▼	-147.34	▼	-1.48%		
	CAC_40__	4,282.54	▼	-36.76	▼	-0.85%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,385.60	▼	-34.90	▼	-0.64%		
	Shanghai_Comp	2,806.91	▼	-0.61	▼	-0.02%		
	Taiwan_Weight	8,095.98	▼	-63.70	▼	-0.78%		
	Nikkei_225___	16,646.66	▲	1.97	▲	0.01%		
	Hang_Seng.__	19,694.33	▼	-132.08	▼	-0.67%		
	Strait_Times.__	2,740.11	▼	-37.00	▼	-1.33%		
	NZX_50_Index_	6,903.62	▼	-79.01	▼	-1.13%		

http://finance.yahoo.com/news/stocks-fall-fed-signals-june-142716004.html

*Stocks fall over continued worry about possible Fed hike

Stocks drop on Wall Street as traders get used to the idea that the Federal Reserve may raise interest rates next month*
Associated Press By Bernard Condon, AP Business Writer

NEW YORK (AP) -- Stocks dropped on Thursday as investors get used to idea that the Federal Reserve may raise interest rates next month.

Major indexes fell from the start of trading, following European markets sharply lower, with banks and industrial companies hit the hardest. By the close, Goldman Sachs had dropped 3 percent and Boeing fell 2 percent, the biggest declines in the Dow Jones industrial average. Several commodities sank for a second day, including gold, silver and copper.

With earnings season mostly over and little news to move prices, the focus remained on the suddenly higher odds that the Fed will increase rates in June, as minutes from its last meeting released Wednesday suggest.

"This is all about the Fed," said Bill Strazzullo, chief market strategist at Bell Curve Trading. "Putting June on the table was something few expected."

With the drop on Thursday, the Standard and Poor's 500 index has now slipped into a loss for year. Both it and the Dow index have fallen in five of the past seven days.

The Dow fell 91.22 points, or 0.5 percent, to 17,435.40. The S&P 500 lost 7.59 points, or 0.4 percent, to 2,040.04. The Nasdaq composite gave up 26.59 points, or 0.6 percent, to 4,712.53.

At the Fed's meeting in April, policymakers indicated an increase in rates was likely, assuming the economy and labor market continued to strengthen. Higher rates diminish the appeal of high-dividend companies to investors seeking income.

"Many of these stocks already had significant moves up and were due for a correction," said Chief Investment Officer Henry Smith of Haverford Trust. "They have decent yields, but high valuations."

That said, some winners from the previous day became losers as investors scrambled to make sense of the new Fed stance.

Banks climbed after Wednesday's release of the Fed minutes on the expectation they will be able to charge more for loans as rates rise. But investors apparently thought the buying went too far, and sold them heavily on Thursday. The sector dropped 0.9 percent.

Among other stocks making big moves, Wal-Mart Stores jumped nearly 10 percent after reporting surprisingly strong sales and releasing an optimistic outlook. The world's largest retailer rose $6.05 to $69.20.

Urban Outfitters jumped $3.42, or 14 percent, to $28.01 after reporting first-quarter sales that exceeded analyst forecasts. The solid results from Urban and Wal-Mart contrasts with dour reports from many other retailers in recent weeks.

Monsanto rose $3.42, or 3.5 percent, to $100.55 after German drug and chemicals company Bayer confirmed it has entered talks with the U.S.-based seed company.

In Europe, Germany's DAX fell 1.5 percent while the CAC-40 in France fell 0.9 percent. Britain's FTSE 100 index was down 1.8 percent.

The Nikkei 225 index in Tokyo ended flat, while South Korea's Kospi lost 0.5 percent. Hong Kong's Hang Seng shed 0.7 percent.

Benchmark U.S. crude oil fell 3 cents to close $48.16 a barrel in New York. Brent crude, used to price international oils, dropped 12 cents to $48.81 a barrel in London. Wholesale gasoline fell 2 cents to $1.63 a gallon, heating slipped less than a penny to $1.48 a gallon and natural gas rose 4 cents to $2.04 per 1,000 cubic feet.

U.S. government bond prices rose. The yield on the 10-year Treasury note slipped to 1.85 percent from 1.86 percent. In currency trading, the dollar slipped to 109.89 yen from 110 yen and the euro fell to $1.1202 from $1.1229.

In metals markets, gold lost $19.60 to $1,254.80 an ounce, silver gave up 64 cents to $16.49 an ounce and copper fell 2 cents to $2.06 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	65.54	points or ▲	0.38%	on	Friday, May 20, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,500.94	▲	65.54	▲	0.38%		
	Nasdaq____	4,769.56	▲	57.03	▲	1.21%		
	S&P_500___	2,052.32	▲	12.28	▲	0.60%		
	30_Yr_Bond____	2.64	▲	0.00	▲	0.15%		

NYSE Volume	 3,496,591,250 	 	 	 	 	  		 
Nasdaq Volume	 1,910,065,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,156.32	▲	102.97	▲	1.70%		
	DAX_____	9,916.02	▲	120.13	▲	1.23%		
	CAC_40__	4,353.90	▲	71.36	▲	1.67%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,415.20	▲	29.60	▲	0.55%		
	Shanghai_Comp	2,825.48	▲	18.58	▲	0.66%		
	Taiwan_Weight	8,131.26	▲	35.28	▲	0.44%		
	Nikkei_225___	16,736.35	▲	89.69	▲	0.54%		
	Hang_Seng.__	19,852.20	▲	157.87	▲	0.80%		
	Strait_Times.__	2,763.82	▲	23.71	▲	0.87%		
	NZX_50_Index_	6,909.86	▲	6.24	▲	0.09%		

http://finance.yahoo.com/news/stocks-move-higher-led-technology-143749891.html#

*Stocks close higher, led by health care and tech companies

Stocks rise on Friday, erasing much of the losses from earlier in the week, as investors adjust to the possibility of higher interest rates next month*
Associated Press By Bernard Condon, The Associated Press

NEW YORK (AP) -- Stocks rose on Friday in a modest but broad rally that erased much of the losses from earlier in the week when investors had sold over fears of rising interest rates.

Health care and technology stocks rose the most, helping to nudge the Standard and Poor's 500 index back to slight gains for the week and year. Nine of the index's 10 sectors closed higher.

Stocks rose from the start of trading, following sizable gains in Europe. Among the winners, Intel climbed nearly 2 percent and Pfizer closed up 1.1 percent.

Investors were spooked earlier in the week when the Federal Reserve released minutes of its last meeting that suggested it may raise rates in June, something the market had not expected. They scrambled to readjust portfolios, selling oil and copper, U.S. Treasury bonds and stocks of steady dividend payers like utilities that tend to fall when rates rise.

But on Friday a measure of calm returned. U.S. bonds barely moved, commodities ended mixed and utilities rose, albeit just 0.2 percent.

The S&P 500 rose 12.28 points, or 0.6 percent, to 2,052.32. The Dow Jones industrial average ended the day up 65.54 points, or 0.4 percent, to 17,500.94. The Dow lost 0.2 percent for the week.

The Nasdaq composite climbed 57.03 points, or 1.2 percent, to 4,769.56.

Applied Materials led the move higher in technology stocks. The maker of chipmaking equipment jumped $2.75, or 14 percent, to $22.66 after reporting earnings ahead of analysts' forecasts.

Another big gainer for the day, Interoil, jumped $11.92, or 38 percent, to $43.57 after rival Oil Search announced a deal to buy the company for $2.2 billion. The deal still needs approval by shareholders.

Friday's gains notwithstanding, the major indexes have barely moved this year.

Steven Ricchiuto, chief economist at Mizuho Securities, says investors are uncertain about the strength of the economy and that's reflected in their unwillingness to commit themselves to buying.

"There's no conviction," he said. "There is no upside momentum."

Jim Paulsen, chief investment strategist for Wells Capital Management, thinks investors will eventually come around. He said he welcomes Fed talk of a rate increase because it shows things are getting better.

"The economy is good enough that even the Fed thinks it might be able to raise rates," he said. "Job creation is there, unemployment is low."

Among other stocks making big moves, Campbell Soup dropped $4.08, or 6 percent, to $59.90 after reporting third-quarter sales that fell short of Wall Street expectations. The company partly blamed challenges in its V8 beverages business and problems with its fresh carrot supply.

The clothes chain Gap rose 73 cents, or 4 percent, to $18.01 after announcing late Thursday that it's closing 75 Old Navy and Banana Republic stores outside North America. The announcement came as the clothes retailer reported a 47 percent drop in first-quarter profits and lower revenue.

In Europe, stock markets reversed losses from the previous day. Britain's FTSE 100 was up 1.7 percent while Germany's DAX rose 1.2 percent. France's CAC 40 advanced 1.7 percent.

Japan's Nikkei 225 rose 0.5 percent while South Korea's Kospi was flat. Hong Kong's Hang Seng index rose 0.8 percent. Australia's S&P/ASX 200 gained 0.5 percent.

Benchmark U.S. oil fell 41 cents to $47.75 a barrel in New York. Brent, used to price international oils, lost 9 cents to $48.72 a barrel in London.

In other energy markets, wholesale gasoline inched up to $1.64 a gallon. Heating oil rose 1 cent to $1.49 a gallon. Natural gas rose 2 cents to $2.06 per 1,000 cubic feet.

Bond prices rose slightly. The yield on the 10-year Treasury note held steady at 1.85 percent. The euro rose to $1.1219 from $1.1202, while the dollar rose to 110.23 yen from 109.89 yen.

Metals prices were mixed. Gold fell $1.90 to $1,252.90 an ounce. Silver added 4 cents to $16.53 an ounce. Copper remained at $2.06 a pound

0164


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-8.01	points or ▼	-0.05%	on	Monday, May 23, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,492.93	▼	-8.01	▼	-0.05%		
	Nasdaq____	4,765.78	▼	-3.78	▼	-0.08%		
	S&P_500___	2,048.04	▼	-4.28	▼	-0.21%		
	30_Yr_Bond____	2.63	▼	-0.01	▼	-0.30%		

NYSE Volume	 3,045,292,250 	 	 	 	 	  		 
Nasdaq Volume	 1,838,816,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,136.43	▼	-19.89	▼	-0.32%		
	DAX_____	9,842.29	▼	-73.73	▼	-0.74%		
	CAC_40__	4,325.10	▼	-28.80	▼	-0.66%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,384.90	▼	-30.30	▼	-0.56%		
	Shanghai_Comp	2,843.65	▲	18.16	▲	0.64%		
	Taiwan_Weight	8,344.44	▲	213.18	▲	2.62%		
	Nikkei_225___	16,654.60	▼	-81.75	▼	-0.49%		
	Hang_Seng.__	19,809.03	▼	-43.17	▼	-0.22%		
	Strait_Times.__	2,766.93	▲	3.11	▲	0.11%		
	NZX_50_Index_	6,907.77	▼	-2.09	▼	-3.00%		

http://finance.yahoo.com/news/stocks-little-changed-investors-wait-fed-141833418.html

*US stocks close slightly lower as investors wait for Fed*
Associated Press By KEN SWEET

NEW YORK (AP) ”” Stocks ended a quiet day slightly lower on Monday as investors sat on the sidelines waiting for more clues about whether the Federal Reserve might raise interest rates next month. Energy stocks fell along with the price of crude oil.

The Dow Jones industrial average fell 8.01 points, or 0.05 percent, to 17,492.93. The Standard & Poor's 500 index fell 4.28 points, or 0.2 percent, to 2,048.04 and the Nasdaq composite lost 3.78 points, or 0.1 percent, to 4,765.78.

Investors had little news to interpret and no major economic data to analyze on Monday, so stocks traded in a very narrow range throughout the day. Roughly 3 billion shares traded hands on the New York Stock Exchange, making it one of the slowest trading days so far this year.

Several members of the Federal Reserve will be making speeches this week, which may give insight to investors on what Fed policymakers might do at their meeting in June. Minutes from the Fed's late April meeting showed that policymakers at the nation's central bank seem to believe the U.S. economy has improved enough to warrant higher interest rates.

"Very quiet today," Ryan Larson, head of U.S. equity trading at RBC Global Asset Management, wrote in response to an email query from AP. "The hesitation seems to directly related to what the Fed may or may not do come its June meeting."

Securities that bet on which way the Fed will move interest rates now show that investors believe there is a 26 percent chance that interest rates will climb.

In company news, Monsanto rose $4.48, or 4 percent, to $106 after German company Bayer offered to buy the agricultural products company for $62 billion. The deal would make the combined company the world's largest producer of fertilizers and other agricultural products.

Tribune Publishing fell $2.14, or 15 percent, to $12.09 after the newspaper company rejected a new takeover offer from Gannett. The company also announced a new investor, who bought a $70 million stake in Tribune.

Benchmark U.S. crude shed 33 cents to $48.08 per barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, fell 37 cents to $48.35 a barrel in London. Energy stocks followed oil prices lower.

In other energy commodities, wholesale gasoline rose 1 cent to $1.65 a gallon, heating oil fell 1 cent to $1.48 a gallon and natural gas fell 1 cent to $2.06 per thousand cubic feet.

U.S. government bond prices rose slightly. The yield on the 10-year Treasury note fell to 1.83 percent from 1.84 percent. The dollar fell to 109.19 yen from 110.23 yen and the euro fell to $1.1221 from $1.1219.

Precious and industrial metals futures closed mostly lower. Gold lost $1.40 to $1,251.50 an ounce, silver fell 11 cents to $16.42 an ounce and copper was little changed at $2.06 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	213.12	points or ▲	1.22%	on	Tuesday, May 24, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,706.05	▲	213.12	▲	1.22%		
	Nasdaq____	4,861.06	▲	95.27	▲	2.00%		
	S&P_500___	2,076.06	▲	28.02	▲	1.37%		
	30_Yr_Bond____	2.64	▲	0.01	▲	0.46%		

NYSE Volume	 3,590,969,500 	 	 	 	 	  		 
Nasdaq Volume	 1,965,420,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,219.26	▲	82.83	▲	1.35%		
	DAX_____	10,057.31	▲	215.02	▲	2.18%		
	CAC_40__	4,431.52	▲	106.42	▲	2.46%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,361.90	▼	-23.00	▼	-0.43%		
	Shanghai_Comp	2,821.67	▼	-21.98	▼	-0.77%		
	Taiwan_Weight	8,300.66	▼	-43.78	▼	-0.52%		
	Nikkei_225___	16,498.76	▼	-155.84	▼	-0.94%		
	Hang_Seng.__	19,830.43	▲	21.40	▲	0.11%		
	Strait_Times.__	2,750.23	▼	-16.70	▼	-0.60%		
	NZX_50_Index_	6,872.66	▼	-35.11	▼	-0.51%		

http://finance.yahoo.com/news/us-stocks-jump-rising-interest-142008028.html#

*Tech companies take the lead as US stocks surge*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” U.S. stocks made their biggest gain since March on Tuesday as technology companies like Apple and Microsoft soared. Homebuilders also climbed after the government said sales of new homes reached an eight-year high last month. That was a sign the housing market and the broader economy are still in pretty good shape.

Stocks opened higher following hefty gains in Europe. Tech stocks made their biggest gain in almost three months, which erased their losses from earlier this year. Banks rose as interest rates continued to inch higher, which lets banks make more money on lending. Stocks have alternated between gains and losses in recent days following a four-week-long string of losses.

"A little bit of good data has reminded people that things are actually OK," said David Lefkowitz, senior equity strategist at UBS Wealth Management. "It's almost like a rubber band. When things get too stretched they snap back."

The Dow Jones industrial average rose 213.12 points, or 1.2 percent, to 17,706.05. The Standard & Poor's 500 index picked up 28.02 points, or 1.4 percent, to 2,076.06. The Nasdaq composite index surged 95.27 points, or 2 percent, to 4,861.06.

Tech stocks led the market higher with their biggest jump since March 1. Apple picked up $1.47, or 1.5 percent, to $97.90 and Alphabet, Google's parent company, added $15.78, or 2.2 percent, to $733.03. Microsoft rose $1.56, or 3.1 percent, to $51.59.

Home building stocks jumped after the Commerce Department said sales of new homes reached their highest level since January 2008. Sales of both newly-built and previously-occupied homes grew as job gains and low mortgage rates encourage Americans to keep buying homes. Toll Brothers also reported better first-quarter results than analysts expected, and the company raised its annual projections for home prices and sales. The stock gained $2.36, or 8.7 percent, to $29.46.

Beazer Homes USA added 66 cents, or 9.2 percent, to $7.86 and PulteGroup rose 91 cents, or 5.1 percent, to $18.73.

Bond prices fell. The yield on the 10-year U.S. Treasury note rose to 1.86 percent from 1.84 percent. When interest rates go up, as they have been doing recently, banks can make more money from lending. JPMorgan Chase climbed $1.08, or 1.7 percent, to $64.54 and Bank of America gained 21 cents, or 1.6 percent, to $14.68.

Agribusiness giant Monsanto rejected an offer from German conglomerate Bayer worth $62 billion, or $122 per share. However Monsanto said it's open to talks with Bayer about a possible sale. As investors hoped for a richer offer, Monsanto stock rose $3.30, or 3.1 percent, to $109.30.

Streaming video company Netflix jumped after it said it struck deal with Disney. Starting in September, Netflix will have exclusive U.S. rights to new movies from Disney, Marvel, Lucasfilm and Pixar. Netflix stock jumped $3, or 3.2 percent, to $97.89.

Fertilizer maker CF Industries ended a deal to buy OCI's distribution networks for about $8 billion. CF planned to reincorporate in the U.K. as part of the deal, which would have reduced its tax bill, but the company said new Treasury Department rules made the combination less appealing. CF Industries will pay OCI $150 million for calling off the deal. CF Industries shed $2.24, or 7.5 percent, to $27.61.

Oil is trading at its highest price since early October, and benchmark U.S. crude picked up 54 cents, or 1.1 percent, to $48.62 a barrel in New York. Brent crude, used to price international oils, rose 26 cents, or 0.5 percent, to $48.61 a barrel in London.

Retailers continued to struggle. Electronics chain Best Buy said its quarterly sales kept falling and its outlook was weak. That made Best Buy the latest retailer to disclose disappointing quarterly results. Its stock lost $2.45, or 7.4 percent, to $30.55.

Shoe and accessories retailer DSW cut its outlook, saying it expects weaker sales this year. That came after the company reported disappointing results for its first fiscal quarter. The stock gave up $2.53, or 11.6 percent, to $19.20.

Athletic apparel maker Under Armour rose after it announced a deal with UCLA worth $280 million over 15 years. The stock jumped 95 cents, or 2.5 percent, to $38.22.

Twitter announced a series of format changes that make its 140-character limit a bit more flexible. While that might make Twitter more appealing to new users, Twitter did not abolish that limit entirely, as some had expected. Already trading around all-time lows, the stock declined 38 cents, or 2.6 percent, to $14.03.

France's CAC 40 added 2.5 percent while Germany's DAX gained 2.2 percent. In Britain the FTSE 100 rose 1.3 percent. Japan's benchmark Nikkei 225 fell 0.9 percent as the yen continued to strengthen, hurting Japanese exporters. South Korea's Kospi edged down 0.9 percent. Hong Kong's Hang Seng rose 0.1 percent.

In other energy trading, wholesale gasoline gained 1 cent to $1.65 a gallon. Heating oil rose 1 cent to $1.49 a gallon. Natural gas fell 8 cents to $1.98 per 1,000 cubic feet.

Gold fell $22.30, or 1.8 percent, to $1,229.20 an ounce. Silver slid 17 cents, or 1 percent, to $16.25 an ounce. Copper was unchanged at $2.07 a pound.

The dollar rose to 109.98 yen from 109.19 yen. The euro slipped to $1.1143 from $1.1221.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	145.46	points or ▲	0.82%	on	Wednesday, May 25, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,851.51	▲	145.46	▲	0.82%		
	Nasdaq____	4,894.89	▲	33.84	▲	0.70%		
	S&P_500___	2,090.54	▲	14.48	▲	0.70%		
	30_Yr_Bond____	2.67	▲	0.03	▲	1.02%		

NYSE Volume	 3,838,674,500 	 	 	 	 	  		 
Nasdaq Volume	 1,733,692,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,262.85	▲	43.59	▲	0.70%		
	DAX_____	10,205.21	▲	147.90	▲	1.47%		
	CAC_40__	4,481.64	▲	50.12	▲	1.13%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,436.80	▲	74.90	▲	1.40%		
	Shanghai_Comp	2,815.09	▼	-6.58	▼	-0.23%		
	Taiwan_Weight	8,396.20	▲	95.54	▲	1.15%		
	Nikkei_225___	16,757.35	▲	258.59	▲	1.57%		
	Hang_Seng.__	20,368.05	▲	537.62	▲	2.71%		
	Strait_Times.__	2,766.66	▲	16.43	▲	0.60%		
	NZX_50_Index_	6,908.04	▲	35.38	▲	0.51%		

http://finance.yahoo.com/news/us-stocks-climb-second-day-oil-prices-rise-143407438.html

*Energy companies lead the way as US stocks keep rising*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” U.S. stocks climbed Wednesday as investors continued to recover some confidence in the health of the global economy. That sent oil prices higher and gave energy companies a boost, while materials companies also climbed higher.

In Europe, a round of new rescue loans for Greece was unfrozen, eliminating the risk the country will default on its debts in the next few months. A survey of business sentiment in Germany, the largest economy in Europe, rose more than expected. European stock indexes rose and the U.S. market followed them. Expecting stronger demand for fuel and materials used in industry and construction, investors bought stock in energy and mining and chemicals companies. U.S. stocks had jumped Tuesday after a strong report on home sales.

Investors "feel confident that perhaps we're seeing a stabilization of growth overseas," said Quincy Krosby, market strategist at Prudential Financial. "Here in the U.S. the economy appears to be pulling out of the first quarter slump."

The Dow Jones industrial average advanced 145.46 points, or 0.8 percent, to 17,851.51. The Standard & Poor's 500 index rose 14.48 points, or 0.7 percent, to 2,090.54. The Nasdaq composite index added 33.84 points, or 0.7 percent, to 4,894.89.

Already at their highest levels since October, oil prices ticked higher after the U.S. government said fuel stockpiles decreased last week. Benchmark U.S. crude gained 94 cents, or 1.9 percent, to $49.56 a barrel in New York. Brent crude, used to price international oils, rose $1.13, or 2.3 percent, to $49.74 a barrel in London. That sent energy companies higher. Chevron added $1.58, or 1.6 percent, to $101.77 and Schlumberger rose $2.29, or 3 percent, to $77.91.

German conglomerate Bayer said it's committed to completing its acquisition of Monsanto, and the seed company rose $2.38, or 2.2 percent, to $111.68. Monsanto rejected an offer from Bayer worth $62 billion, or $122 per share, but said Tuesday that it's open to talks.

Elsewhere, chemicals maker LyondellBasell Industries picked up $2.26, or 2.8 percent, to $82.71. Gold and copper miner Freeport-McMoRan added 54 cents, or 4.9 percent, to $11.65.

In other deal news, Hewlett Packard Enterprise said it will sell its business service unit to CSC for $8.5 billion. The company, which was formed when Hewlett-Packard split in two last year, will focus on selling tech products to big organizations, like hardware and software for data centers. Hewlett Packard Enterprise rose $1.10, or 6.8 percent, to $17.35 and Computer Sciences surged $15, or 42.1 percent, to $50.65.

Bank stocks made some of the biggest gains as investors anticipated that interest rates will rise, allowing banks to make more money on lending. The Federal Reserve has said it wants to keep raising interest rates if the economy is strong enough. Bond prices edged lower on Wednesday, and the yield on the 10-year U.S. Treasury note rose to 1.87 percent from 1.86 percent.

Wells Fargo rose $1.30, or 2.6 percent, to $50.50 and Citigroup added $1.08, or 2.4 percent, to $46.94.

Chinese e-commerce company Alibaba fell after it said U.S. regulators are investigating its accounting practices. The company said the Securities and Exchange Commission has asked for documents and information related to its consolidated earnings and other items. The stock lost $5.53, or 6.8 percent, to $75.59.

A string of painful quarterly results for retailers continued Wednesday. Clothing and accessories chain Express reported disappointing results and gave weak projections for the rest of the year, and its stock fell $1.35, or 8.4 percent, to $14.68.

French drugmaker Sanofi said it wants to replace the entire board of cancer drug Medivation. Sanofi has offered to buy the company for $9.3 billion, or $52.50 per share, but Medivation rejected that bid and Sanofi says Medivation won't discuss a deal. Sanofi stock gained 76 cents, or 1.9 percent, to $40.97. Medivation fell 43 cents to $61.48.

In European trading, Germany's DAX advanced 1.5 percent. France's CAC gained 1.1 percent while Britain's FTSE 100 rose 0.7 percent. Japan's Nikkei 225 rose 1.6 percent and Hong Kong's Hang Seng index jumped 2.7 percent. South Korea's Kospi gained 1.2 percent.

Gold fell $5.40 to $1,223.80 an ounce. The price of gold has fallen 4 percent over a six-day losing streak. Silver was unchanged at $16.26 an ounce. Copper rose 4 cents to $2.10 per pound.

In other energy trading, wholesale gasoline fell 1 cent to $1.64 a gallon. Heating oil rose 2 cents to $1.51 a gallon. Natural gas picked up 1 cent to $1.99 per 1,000 cubic feet.

The dollar rose to 110.10 yen from 109.98 yen. The euro inched up to $1.1160 from $1.1143.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-23.22	points or ▼	-0.13%	on	Thursday, May 26, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,828.29	▼	-23.22	▼	-0.13%		
	Nasdaq____	4,901.77	▲	6.88	▲	0.14%		
	S&P_500___	2,090.10	▼	-0.44	▼	-0.02%		
	30_Yr_Bond____	2.63	▼	-0.04	▼	-1.54%		

NYSE Volume	 3,130,511,000 	 	 	 	 	  		 
Nasdaq Volume	 1,574,186,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,265.65	▲	2.80	▲	0.04%		
	DAX_____	10,272.71	▲	67.50	▲	0.66%		
	CAC_40__	4,512.64	▲	31.00	▲	0.69%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,451.90	▲	15.10	▲	0.28%		
	Shanghai_Comp	2,822.44	▲	7.36	▲	0.26%		
	Taiwan_Weight	8,394.12	▼	-2.08	▼	-0.02%		
	Nikkei_225___	16,772.46	▲	15.11	▲	0.09%		
	Hang_Seng.__	20,397.11	▲	29.06	▲	0.14%		
	Strait_Times.__	2,773.31	▲	6.65	▲	0.24%		
	NZX_50_Index_	6,947.88	▲	39.84	▲	0.58%		

http://finance.yahoo.com/news/us-stocks-barely-budge-banks-143306783.html

*US stocks finish mixed as 2-day climb comes to an end*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” U.S. stocks barely budged Thursday as investors moved cautiously after two days of large gains. Utilities and phone companies rose the most thanks to a decline in bond yields, while chemicals companies and banks surrendered some of their recent gains.

Stocks alternated between small losses and gains and moved more on individual news than broad trends. Retailers Dollar Tree and Costco rose after they reported strong quarterly results. That made them exceptions in a difficult quarter for department stores, watch sellers, and clothing companies.

Stocks got a small boost after Jerome Powell, who sits on the Federal Reserve's committee that determines interest rates, suggested the Fed will wait a little longer before it raises rates again.

"That reduces the risk of an unpleasant surprise at the June meeting," said Jim McDonald, chief investment strategist for Northern Trust. Fed Chair Janet Yellen will speak at Harvard University on Friday and McDonald said investors did not want to make big moves before they know her views.

The Dow Jones industrial average fell 23.22 points, or 0.1 percent, to 17,828.29. The Standard & Poor's 500 index lost 0.44 points to 2,090.10. The Nasdaq composite index added 6.88 points, or 0.1 percent, to 4,901.77.

Bond yields, which have risen over the last few weeks, slumped as prices rose. That sent utility and phone company stocks higher because those stocks are seen as similar to bonds, and the lower yields make them more appealing compared to bonds. NextEra Energy rose $1.59, or 1.3 percent, to $119.82 and Con Edison picked up 94 cents, or 1.3 percent, to $72.73. AT&T added 22 cents to $38.84.

The yield on the 10-year U.S. Treasury note fell to 1.83 percent from 1.87 percent.

Chemicals companies, which posted some of the biggest gains on Wednesday, traded lower. Monsanto, which has jumped on talks about a potential sale to Bayer, lost $2.06, or 1.8 percent, to $109.62. DuPont fell $1.27, or 1.9 percent, to $66.96. Citigroup lead banks lower, giving up 83 cents, or 1.8 percent, to $46.11.

Weak earnings reports have weighed on retailers' stocks in recent weeks. Among other problems, shoppers aren't spending as much on clothes and the strong dollar is hurting their profits and sales overseas. Department stores have been hit the hardest.

But on Thursday several retailers disclosed solid results from the past three months.

Discount retailer Dollar Tree said its first-quarter profit more than tripled and it raised its forecasts for the year. Its stock gained $10.01, or 12.8 percent, to $88.37. Also jumping after a strong report was PVH, the owner of the Calvin Klein and Tommy Hilfiger brands, which added $3.90, or 4.3 percent, to $93.73. And wholesale club operator Costco rose $5.17, or 3.6 percent, to $149.71.

Like the broader market, oil prices were little changed. U.S. crude slipped 8 cents to $49.48 a barrel in New York while Brent crude, which is used to price international oils, fell 15 cents to $49.59 a barrel in London. Oil prices are at their highest level since October, but U.S. crude hasn't closed above $50 a barrel since July.

Stocks have risen to some of their highest levels of 2016, driven by investors encouraged by strong monthly home sales in the U.S. and economic support for Greece. But similar news on Thursday, including a drop in new applications for unemployment benefits and further growth in pending home sales, didn't make much of a difference for Wall Street. And a government report showed that a measurement of business investment fell for the third month in a row. That suggests manufacturing is still under pressure.

Jewelry company Signet Jewelers slumped after it posted weaker-than-expected sales and lowered its projections for sales at older stores. The stock lost $11.37, or 10.5 percent, to $97.

Personal computer and printer maker HP reported a bigger profit than analysts had forecast, and it gave a solid outlook for the year. The stock climbed 84 cents, or 6.9 percent, to $13.04.

U.S. Foods Holding, the second-biggest food service distributor in the country, went public with a $1.02 billion initial public offering. That was one of the largest IPOs of the year, as the market turmoil over the last few months has made companies hesitant to go public. The stock jumped $1.91, or 8.3 percent, to $24.91.

In other energy trading, wholesale gasoline fell 2 cents to $1.62 a gallon. Heating oil declined 1 cent to $1.50 a gallon. Natural gas fell 3 cents to $1.96 per 1,000 cubic feet.

The price of gold slipped for the seventh day in a row, losing $3.40 to $1,220.40 an ounce. Silver rose 8 cents to $16.34 an ounce. Copper was unchanged at $2.10 a pound.

France's CAC and Germany's DAX both gained 0.7 percent and the FTSE in Britain was little changed. Japan's Nikkei 225 index added nearly 0.1 percent. Hong Kong's Hang Seng index added 0.1 percent.

The dollar slipped to 109.72 yen from 110.10 yen. The euro inched up to $1.1191 from $1.1160.


----------



## bigdog

Source: http://finance.yahoo.com 

*NYSE CLOSED FOR MEMORIAL DAY HOLIDAY MONDAY MAY 30*

 *The NYSE DOW closed  	HIGHER ▲	44.93	points or ▲	0.25%	on	Friday, May 27, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,873.22	▲	44.93	▲	0.25%		
	Nasdaq____	4,933.50	▲	31.74	▲	0.65%		
	S&P_500___	2,099.06	▲	8.96	▲	0.43%		
	30_Yr_Bond____	2.65	▲	0.02	▲	0.80%		

NYSE Volume	 3,055,891,250 	 	 	 	 	  		 
Nasdaq Volume	 1,470,321,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,270.79	▲	5.14	▲	0.08%		
	DAX_____	10,286.31	▲	13.60	▲	0.13%		
	CAC_40__	4,514.74	▲	2.10	▲	0.05%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,469.70	▲	17.80	▲	0.33%		
	Shanghai_Comp	2,821.05	▼	-1.40	▼	-0.05%		
	Taiwan_Weight	8,463.61	▲	69.49	▲	0.83%		
	Nikkei_225___	16,834.84	▲	62.38	▲	0.37%		
	Hang_Seng.__	20,576.77	▲	179.66	▲	0.88%		
	Strait_Times.__	2,802.51	▲	29.20	▲	1.05%		
	NZX_50_Index_	6,992.55	▲	44.67	▲	0.64%		

http://finance.yahoo.com/news/us-stocks-edge-higher-led-143349242.html

*Stocks rise to wrap up a strong week as banks move higher

US stocks rise after Fed Chair Janet Yellen said the central bank aims to keep raising interest rates if the economy continues to improve*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- Stocks rose Friday to wrap up their strongest week in almost three months. Banks gained ground after Federal Reserve Chair Janet Yellen said the central bank intends to keep raising interest rates provided the economy continues to improve.

Stocks turned higher over the last few hours of trading to finish at their highest levels of the day. Banks made the largest gains, as they stand to make bigger profits on lending if interest rates rise further. Phone companies traded higher after Verizon reportedly agreed in principle to a new contract with striking employees. Alphabet led technology stocks higher.

Yellen said it will be "appropriate" to raise interest rates in the next few months if the economy continues to improve, and emphasized that the Fed will move slowly and carefully. There were signs of that improvement throughout the week, including increased home sales, leading to big gains for stocks. On Friday the Commerce Department said the U.S. economy grew a bit more in the first quarter than it previously estimated. In recent months stocks have slumped when investors thought the Fed might be about to raise interest rates. That may have changed this week.

"Both inflation and growth are on an upward trend," said Jon Adams, senior investment strategist for BMO Global Asset Management. He said investors may be worrying a bit less about the Fed's plans because the economy could be getting onto more solid footing, but the central bank must remain careful in dealing with investor expectations.

"The Fed's kind of walking a tight rope here," he said.

The Dow Jones industrial average rose 44.93 points, or 0.3 percent, to 17,783.22. The Standard & Poor's 500 index added 8.96 points, or 0.4 percent, to 2,099.06. The Nasdaq composite index picked up 31.74 points, or 0.6 percent, to 4,933.50.

The Commerce Department said the U.S. economy was a bit stronger in the first quarter than it initially believed. The agency said the gross domestic product grew 0.8 percent in the first three months of the year, above its original estimate of 0.5 percent. That's still sluggish, but experts think the economy will grow about 2 percent in the current quarter.

Bank stocks were led higher by Bank of America, which rose 18 cents, or 1.2 percent, to $14.88, and Citigroup, which picked up 47 cents, or 1 percent, to $46.58. Bank stocks have struggled this year because the Fed has pushed back plans to raise rates. Bond prices dipped and yields rose, another sign investors expect interest rates to increase. The yield on the 10-year U.S. Treasury note rose to 1.85 percent from 1.83 percent. The yield on the Treasury note is closely tied to interest rates.

Labor Secretary Thomas Perez said Verizon and its unions agreed in principle to a new four-year contract. About 39,000 landline and cable employees in the Eastern U.S. went on strike in April. They had been working without a contract since August. Verizon gained 46 cents to $50.62.

Google's parent company Alphabet rose after a federal jury said the company did not need permission to use tools made by Oracle when it built its Android software. Oracle said Google stole its intellectual property and sought $9 billion in damages, and it plans to appeal the ruling. Alphabet stock added $10.67, or 1.4 percent, to $747.60.

Benchmark U.S. crude oil lost 15 cents to $49.33 a barrel in New York. Brent crude, which is used to price international oils, gave up 27 cents to $49.32 a barrel in London.

Machinery maker Terex dropped after Chinese heavy equipment maker Zoomlion abandoned its effort to buy the company. Zoomlion offered to buy Terex at the start of the year, after Terex accepted an offer from Finland's Konecranes. Terex backed out of that deal and will instead sell its crane business to Konecranes. Terex stock sank $3.44, or 14.1 percent, to $20.89.

Scientific equipment maker Thermo Fisher said it will buy electron microscope maker FEI for $107.50 per share in cash, or about $4.2 billion. The deal comes about two months after Thermo Fisher paid $1.3 billion to buy Affymetrix, a company that makes equipment to analyze genetic codes. FEI stock climbed $13.55, or 14.3 percent, to $108.13 and Thermo Fisher added 93 cents to $152.13.

The price of gold fell $6.60 to $1,213.80. Gold has slipped about 5 percent over the last two weeks. Silver fell 7 cents to $16.27 an ounce. Copper rose 1 cent to $2.11 a pound.

Wholesale gasoline rose 1 cent to $1.63 a gallon. Heating oil fell 1 cent to $1.49 a gallon. Natural gas rose 2 cents to $2.17 per 1,000 cubic feet.

Germany's DAX and the FTSE 100 in Britain both rose 0.1 percent, and France's CAC 40 gained a bit less than that. Japan's benchmark Nikkei 225 index added 0.4 percent and South Korea's Kospi gained 0.6 percent. Hong Kong's Hang Seng climbed 0.9 percent.

The dollar rose to 110.38 yen from 109.72 yen. The euro dipped to $1.1114 from $1.1191.

0891


----------



## bigdog

Source: http://finance.yahoo.com 

*NYSE CLOSED FOR MEMORIAL DAY HOLIDAY MONDAY MAY 30		
BRITIAN CLOSED FOR BANK HOLIDAY MONDAY MAY 30	*

 *The NYSE DOW closed  	HIGHER ▲	44.93	points or ▲	0.25%	on	Monday, May 30, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,873.22	▲	44.93	▲	0.25%	HOLIDAY	
	Nasdaq____	4,933.50	▲	31.74	▲	0.65%	HOLIDAY		
	S&P_500___	2,099.06	▲	8.96	▲	0.43%	HOLIDAY		
	30_Yr_Bond____	2.65	▲	0.02	▲	0.80%	HOLIDAY		

NYSE Volume	 3,071,701,000 	 	 	 	 	  		 
Nasdaq Volume	 1,473,621,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,270.79	▲	5.14	▲	0.08%	HOLIDAY		
	DAX_____	10,333.23	▲	46.92	▲	0.46%		
	CAC_40__	4,529.40	▲	14.66	▲	0.32%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,473.60	▲	3.90	▲	0.07%		
	Shanghai_Comp	2,822.45	▲	1.41	▲	0.05%		
	Taiwan_Weight	8,535.87	▲	72.26	▲	0.85%		
	Nikkei_225___	17,068.02	▲	233.18	▲	1.39%		
	Hang_Seng.__	20,629.39	▲	52.62	▲	0.26%		
	Strait_Times.__	2,796.75	▼	-5.76	▼	-0.21%		
	NZX_50_Index_	7,019.64	▲	27.09	▲	0.39%		

http://finance.yahoo.com/news/global-stocks-rise-wall-street-gains-090203739--finance.html

*Global stocks rise amid increasing optimism about the world economy*
Associated Press By JOE McDONALD

BEIJING (AP) ”” Major stock markets edged up on Monday amid greater optimism about the global economy, though trading volumes were low as the U.K. and U.S. markets were closed for a holiday.

KEEPING SCORE: Germany's DAX gained 0.5 percent to close at 10,333.23 while France's CAC-40 rose 0.3 percent to 4,529.40. Earlier, Tokyo's Nikkei 225 rose 1.4 percent to 17,068.02 and Hong Kong's Hang Seng added 0.3 percent to 20,629.39. The Shanghai Composite Index held steady at 2,822.45, Sydney's S&P-ASX 200 also was unchanged at 5,408.00 while Seoul's Kospi shed 0.1 percent to 1,967.13.

GLOBAL OPTIMISM: Sentiment has been buoyant since last week, when U.S. Federal Reserve chair Janet Yellen sounded confident about the economy. She said the Fed intends to keep raising interest rates as long as growth keeps improving. Bank shares in particular rose on the comments, as financial groups stand to make bigger profits on lending if interest rates rise.

ANALYST'S TAKE: "Janet Yellen's remarks on Friday confirm that at least one increase in the Fed rate is likely this year. Traders will take confidence from the fact that stock markets are firm in the face of this confirmation. As far as the markets are concerned, the timing of the next Fed increase now becomes the central issue," Ric Spooner of CMC Markets said in a report.

EUROPEAN DATA: A rise in economic confidence in the 19-country eurozone also helped buoy markets in Europe. The Economic Sentiment Indicator, a monthly survey by the European Union's executive Commission, rose to a four-month high of 104.7 points in May from 104.0 in April. It was supported by optimism among consumers, industry managers, expectations for stronger hiring as well as rising retail prices.

THE YUAN WEAKENS: In Asia, China's yuan weakened after the central bank set the starting point for the day's trading at its lowest level against the dollar in five years. The People's Bank of China failed to factor a possible U.S. rate hike into its plans and had to change its stance following Yellen's speech, according to Stephen Innes, a trader for OANDA. "I don't think the bank is trying to drive down the yuan," said Innes.

WEEK AHEAD: Investors were looking ahead to China's May manufacturing index due Wednesday as well as OPEC's meeting Thursday. The oil cartel is not expected to change its output levels as oil prices have recovered in recent weeks, but its views on the market will be scrutinized by investors. The European Central Bank will also hold a meeting on Thursday, and is likewise expected to take no action as it waits for past stimulus measures to have an effect on the economy.

ENERGY: Benchmark U.S. crude rose 19 cents to $49.52 per barrel in electronic trading on the New York Mercantile Exchange. The contract shed 15 cents on Friday. Brent crude, used to price international oils, rose 27 cents to $50.22 per barrel in London. The contract fell 22 cents the previous session.

CURRENCY: The dollar gained to 111.09 yen from Friday's 110.23. The euro edged up to $1.1132 from $1.1116.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-86.02	points or ▼	-0.48%	on	Tuesday, May 31, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,787.20	▼	-86.02	▼	-0.48%		
	Nasdaq____	4,948.05	▲	14.55	▲	0.29%		
	S&P_500___	2,096.96	▼	-2.10	▼	-0.10%		
	30_Yr_Bond____	2.63	▼	-0.02	▼	-0.79%		

NYSE Volume	 4,249,137,000 	 	 	 	 	  		 
Nasdaq Volume	 2,217,479,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,230.79	▼	-40.00	▼	-0.64%		
	DAX_____	10,262.74	▼	-70.49	▼	-0.68%		
	CAC_40__	4,505.62	▼	-23.78	▼	-0.53%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,447.80	▼	-25.80	▼	-0.47%		
	Shanghai_Comp	2,916.62	▲	94.17	▲	3.34%		
	Taiwan_Weight	8,535.59	▼	-0.28	▲	0.00%		
	Nikkei_225___	17,234.98	▲	166.96	▲	0.98%		
	Hang_Seng.__	20,815.09	▲	185.70	▲	0.90%		
	Strait_Times.__	2,791.06	▼	-5.69	▼	-0.20%		
	NZX_50_Index_	7,039.41	▲	19.77	▲	0.28%		

http://finance.yahoo.com/news/us-st...-weigh-economic-data-141354996--finance.html#

*US stocks slide following late slump in oil prices*
Associated Press By MARLEY JAY and ALEX VEIGA

EW YORK (AP) ”” U.S. stock indexes are falling Tuesday afternoon and energy companies are sliding with the price of oil. Makers of household products are trading lower following mixed reports about consumer behavior in the U.S.

KEEPING SCORE: The Dow Jones industrial average dropped 101 points, or 0.6 percent, to 17,771 as of 3:34 p.m. Eastern time. The Standard & Poor's 500 index fell 5 points, or 0.2 percent, to 2,094. The Nasdaq composite index rose 3 points, or 0.1 percent, to 4,936 as health stocks made small gains. Despite the losses, major U.S. indexes are wrapping up a strong month.

ENERGY: The oil minister of the United Arab Emirates said he is "optimistic" about the state of the energy market. Ministers from OPEC nations will meet in Vienna this week and the comments suggest there isn't a lot of urgency to address a global supply glut.

Benchmark U.S. crude oil fell 23 cents to $49.10 a barrel in New York. Brent crude, used to price international oils, gave up 7 cents to $49.69 a barrel in London.

Chevron fell $1.21, or 1.2 percent, to $100.81 and Exxon Mobil shed $1.11, or 1.2 percent, to $88.90.

OIL PENNED IN: David Schiegoleit, managing director of investments for the private client reserve at U.S. Bank, said he thinks oil won't go much higher unless the global economy really improves or major nations start spending more.

"We do see $50 as sort of high end," he said.

Schiegoliet said he thinks oil prices will stay between $30 and $50 a barrel until then. The price of oil has almost doubled since early February, but it hasn't closed above $50 a barrel since July.

EYE ON CONSUMERS: The Commerce Department said U.S. consumer spending rose 1 percent in April as purchases of cars and other long-lasting goods increased. Wages and salaries, the most important component of incomes, gained 0.5 percent. The report suggests the U.S. economy could pick up in the second quarter after six months of sluggish growth.

But economists at the Conference Board said consumer confidence fell for the second month in a row and reached its lowest level since November. The group said consumers are feeling cautious about business and job market conditions, and they anticipate little change in the months ahead. That was a surprise since a similar survey by the University of Michigan showed greater optimism among consumers.

CONSUMER GOODS: Companies that make household goods like food, drinks, cleaners and other everyday items fell in afternoon trading. Beer and wine maker Constellation Brands lost $4.45, or 2.8 percent, to $153.38 and Clorox gave up $1.23 to $128.47.

THE QUOTE: Erik Davidson, chief investment officer for Wells Fargo Private Bank, said the consumer spending report shows Americans are gradually spending more and getting over the shocks of the financial crisis and Great Recession.

"There's probably never been a better time to be a consumer than right now," Davidson said. He noted that the job market remains solid, wages are inching higher and a strong dollar is making goods produced overseas less expensive.

POWER DEAL: Westar Energy, the biggest utility company in Kansas, surged after Great Plains Energy agreed to buy it for $8.5 billion, or $60 per share in cash and stock. The deal will give Great Plains a total of 1.5 million customers in Kansas and Missouri. Westar climbed $3.81, or 7.2 percent, to $56.73 and Great Plains Energy slid $1.78, or 5.8 percent, to $29.22.

NOT READY FOR TAKEOFF: Boeing slumped after the U.S. Air Force announced new delays for the company's KC-46 Pegasus Tanker, a midair refueling plane. Boeing lost $3.02, or 2.3 percent, to $126.20.

JAZZ IT UP: Jazz Pharmaceuticals says it will buy cancer drug developer Celator Pharmaceuticals for $30.25 per share, or $1.28 billion. Celator's most advanced drug is Vyxeos, a potential treatment for acute myeloid leukemia.

Jazz gets most of its revenue from Xyrem, a drug used to treat side effects of narcolepsy, but it also makes cancer drugs. Celator soared $12.51, or 71.4 percent, to $30.04 and Jazz stock lost $1.02 to $151.07.

OVERSEAS: Germany's DAX edged 0.7 percent lower, while France's CAC 40 slipped 0.5 percent. Britain's FTSE 100 was down 0.6 percent. Earlier in Asia, Japan's benchmark Nikkei 225 closed 1 percent higher, while South Korea's Kospi added 0.8 percent. Hong Kong's Hang Seng climbed 0.9 percent.

OTHER ENERGY PRICES: Wholesale gasoline fell 2 cents to $1.61 a gallon. Heating oil was unchanged at $1.50 a gallon. Natural gas climbed 12 cents, or 5.5 percent, to $2.29 per 1,000 cubic feet.

METALS: Gold rose 80 cents to $1,217.50 an ounce. Silver fell 28 cents, or 1.7 percent, to $15.99 an ounce. Copper fell 2 cents to $2.10 per pound. That was the end of an eight-day losing streak for gold, which fell 6 percent in May.

BONDS AND CURRENCIES: Bond prices edged higher. The yield on the 10-year Treasury note slipped to 1.84 percent from 1.86 late Friday. The dollar strengthened to 110.59 yen from 110.38 yen. The euro rose to $1.1126 from $1.1114.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	2.47	points or ▲	0.01%	on	Wednesday, June 1, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,789.67	▲	2.47	▲	0.01%		
	Nasdaq____	4,952.25	▲	4.20	▲	0.08%		
	S&P_500___	2,099.33	▲	2.37	▲	0.11%		
	30_Yr_Bond____	2.63	▲	0.00	▼	-0.08%		

NYSE Volume	 3,498,535,250 	 	 	 	 	  		 
Nasdaq Volume	 1,828,629,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,191.93	▼	-38.86	▼	-0.62%		
	DAX_____	10,204.44	▼	-58.30	▼	-0.57%		
	CAC_40__	4,475.39	▼	-30.23	▼	-0.67%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,395.20	▼	-52.60	▼	-0.97%		
	Shanghai_Comp	2,913.51	▼	-3.11	▼	-0.11%		
	Taiwan_Weight	8,597.16	▲	61.57	▲	0.72%		
	Nikkei_225___	16,955.73	▼	-279.25	▼	-1.62%		
	Hang_Seng.__	20,760.98	▼	-54.11	▼	-0.26%		
	Strait_Times.__	2,790.54	▼	-0.52	▼	-0.02%		
	NZX_50_Index_	7,022.40	▼	-17.01	▼	-0.24%		

http://finance.yahoo.com/news/us-stock-indexes-move-lower-weak-chinese-data-142436483.html

*US stocks eke small gains after listless day of trading

U.S. stocks perk up after a downbeat start to eke out a small gain*
Associated Press By Alex Veiga, AP Business Writer

U.S. stocks perked up after a downbeat start to eke out a small gain Wednesday.

Consumer companies were among the big gainers on a day when investors sized up a mixed bag of new data on the U.S. manufacturing, housing and automobile industries. Telecommunications stocks lagged the rest of the market.

Investors have been looking for clues in the latest economic figures to gauge the likelihood that the Federal Reserve will raise its key interest rate at the central bank's next meeting of policymakers later this month.

"The market is in a holding pattern," said Quincy Krosby, market strategist at Prudential Financial. "Everything now is being viewed via the eye of the Fed in order to ascertain whether and if we get a rate hike this summer."

The Dow Jones industrial average rose 2.47 points, or 0.01 percent, to 17,789.67. The Standard & Poor's 500 index added 2.37 points, or 0.1 percent, to 2,099.33. The index remains within 2 percent of its all-time high set in May 2015.

The Nasdaq composite index gained 4.20 points, or 0.1 percent, to 4,952.25.

The latest gains helped nudge the Dow and S&P 500 higher for the year. The Dow is up 2.1 percent, while the S&P 500 is up 2.7 percent. The Nasdaq is off 1.1 percent.

The major stock indexes opened lower on Wednesday, echoing a slide in markets in Europe and Asia as traders considered new reports on China's manufacturing sector, including one suggesting a weaker outlook for the nation's factories.

Investors also got an early look a mix of new U.S. data. The Commerce Department said construction spending fell in April by the biggest amount in five years, dragged down by declines in housing, commercial construction and spending on government projects.

Separately, car shopping site Kelly Blue Book projected that U.S. auto sales slumped 7 percent in May, usually one of the strongest months of the year for the U.S. auto industry. The drop is the biggest monthly sales decline since August 2010.

Most major automakers reported lower sales in May compared to the same month a year ago, including General Motors and Ford Motors. Shares in GM lost $1.06, or 3.4 percent, to $30.22, while Ford slid 38 cents, or 2.8 percent, to $13.11.

Auto dealership chain CarMax also took a hit, dropping $1.57, or about 3 percent, to $52.09.

Meanwhile, the Institute of Supply Management said that U.S. factories expanded for the straight month in May, helped by a weaker U.S. dollar.

"It's another data point in the direction of things being OK," said Jason Pride, director of investment strategy at Glenmede.

Investors' outlook perked up by late afternoon around the time when the Federal Reserve released its latest Beige Book, a snapshot of the U.S. economy that the central bank's policymakers use to inform their actions.

Another key factor: the government's next monthly update on nonfarm hiring, due out Friday.

"It's been a mixed picture, but with enough elements in the picture to keep the Fed in play to raise rates," Krosby said.

Beyond economic data, investors kept an eye on companies reporting quarterly results or outlooks.

Michael Kors led all companies in the S&P 500 index, climbing 6.6 percent after it reported that strong online sales and new store locations helped boost its fiscal fourth-quarter revenue. The retailer's results topped Wall Street's expectations. The stock gained $2.83 to $45.55.

Cracker Barrel vaulted 8.4 percent after the restaurant chain reported strong earnings growth for its fiscal third quarter. The stock added $12.74 to $164.22.

Other companies didn't fare as well.

Under Armour slumped 3.9 percent after the sports apparel maker slashed its full-year revenue guidance, saying that the closure of Sports Authority stores will hurt its sales. A bankruptcy court recently decided to approve the liquidation of privately held Sports Authority, which sold Under Armour goods, rather than a restructuring or sale. Under Armour shed $1.48 to $36.25.

Markets in Europe closed lower. Germany's DAX fell 0.6 percent, while France's CAC 40 slid 0.7 percent. Britain's FTSE 100 lost 0.6 percent. The downbeat data on China's factories weighed on markets in the world's second-largest economy and elsewhere in Asia.

Hong Kong's Hang Seng index fell 0.3 percent. Japan's Nikkei 225 finished 1.6 percent lower, while South Korea's Kospi slipped less than 0.1 percent. Australia's S&P/ASX 200 slumped 1 percent.

Benchmark U.S. crude oil slipped 9 cents to close at $49.01 a barrel in New York. Brent crude, which is used to price international oils, slid 17 cents to close at $49.72 a barrel in London.

In other energy futures trading, natural gas rose 9 cents, or 4.1 percent, to close at $2.38 per 1,000 cubic feet. Wholesale gasoline was little changed at $1.62 a gallon and heating oil was also flat at $1.50 a gallon.

Among metals, gold fell $2.80 to $1,214.70 an ounce, while silver slid 7 cents to $15.93 an ounce. Copper shed 2 cents to $2.07 a pound.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.84 percent from 1.85 late Tuesday.

In currency markets, the dollar weakened to 109.54 yen from 110.59 yen in Tuesday's trading. The euro rose to $1.1186 from $1.1126.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	48.89	points or ▲	0.27%	on	Thursday, June 2, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,838.56	▲	48.89	▲	0.27%		
	Nasdaq____	4,971.36	▲	19.11	▲	0.39%		
	S&P_500___	2,105.26	▲	5.93	▲	0.28%		
	30_Yr_Bond____	2.59	▼	-0.04	▼	-1.60%		

NYSE Volume	 3,617,718,500 	 	 	 	 	  		 
Nasdaq Volume	 1,671,073,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,185.61	▼	-6.32	▼	-0.10%		
	DAX_____	10,208.00	▲	3.56	▲	0.03%		
	CAC_40__	4,466.00	▼	-9.39	▼	-0.21%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,354.20	▼	-41.00	▼	-0.76%		
	Shanghai_Comp	2,925.23	▲	11.72	▲	0.40%		
	Taiwan_Weight	8,556.02	▼	-41.14	▼	-0.48%		
	Nikkei_225___	16,562.55	▼	-393.18	▼	-2.32%		
	Hang_Seng.__	20,859.22	▲	98.24	▲	0.47%		
	Strait_Times.__	2,795.09	▲	4.55	▲	0.16%		
	NZX_50_Index_	7,003.12	▼	-19.28	▼	-0.27%		

http://finance.yahoo.com/news/energy-companies-lead-slide-us-142917724.html#

*After an early wobble, US stocks close higher*
Associated Press By ALEX VEIGA

U.S. stocks rebounded from an early slide Thursday, nudging the Standard & Poor's 500 index and Nasdaq composite to their highest close of the year.

Health care companies led the comeback. Energy stocks declined the most following a meeting of OPEC ministers that ended without an agreement on crude production cuts.

A late-afternoon reversal delivered the second gain in two days for the stock market in what's been a muted week of trading. Investors have been on the sidelines waiting for clues as to whether the Federal Reserve will raise its key interest rate at the central bank's next meeting of policymakers later this month.

Many will be looking to Friday, when the Labor Department releases its latest monthly jobs report.

"It is the last major data point for the Fed to digest before they go into their mid-June meeting," said Bill Northey, chief investment officer at the U.S. Bank Private Client Group.

The Dow Jones industrial average gained 48.89 points, or 0.3 percent, to 17,838.56.

The S&P 500 index added 5.93 points, or 0.3 percent, to 2,105.26. The last time it was higher this year was on April 20. The index is now about 1.2 percent below its all-time high set in May last year.

The Nasdaq rose 19.11 points, or 0.4 percent, to 4,971.36. That eclipsed its previous high this year on April 18.

Seven of the 10 sectors in the S&P 500 posted gains, led by health care companies. Health insurer Humana climbed the most in the index, adding $9.96, or 5.6 percent, to $187.36. Drugmaker Endo International rose 82 cents, or 4.9 percent, to $17.44. And Aetna gained $4.74, or 4.1 percent, to $120.03.

Major stock indexes had been stuck in the red for much of the day as investors monitored the OPEC meeting in Vienna.

Oil ministers ended the meeting without reaching a consensus on regulating supplies. That sent crude oil prices lower initially, but they later reversed course.

Benchmark U.S. crude oil rose 16 cents, or 0.3 percent, to close at $49.17 a barrel in New York. Brent crude, which is used to price international oils, added 32 cents, or 0.6 percent, to close at $50.04 a barrel in London.

"OPEC taking a pause or choosing not to institute any production caps was not surprising given the fact that we've seen oil come up near $50 a barrel," Northey said.

Even so, energy stocks were the biggest laggard in the S&P 500.

Shares in several oil drilling and exploration companies declined, with Diamond Offshore Drilling sliding the most. The stock lost $1.01, or 4 percent, to $24.30.

Investors also weighed the latest company earnings and deal news.

L Brands, the company behind the Victoria's Secret brand, rose 4.3 percent after it reported its latest sales figures. The stock added $2.92 to $71.33.

Johnson & Johnson rose on news that the company agreed to buy privately-held hair care products maker Vogue International for about $3.3 billion. Vogue's hair care products are sold in the U.S. and 38 other countries. Johnson & Johnson shares rose $1.71, or 1.5 percent, to $114.49.

Some companies' results put traders in a selling mood.

Conn's sank 26.3 percent after the retailer reported quarterly results that fell short of analysts' estimates. The stock lost $3.08 to $8.63.

Online storage provider Box tumbled 11.5 percent after the company reported disappointing results late Wednesday. The stock fell $1.47 to $11.34.

European stock indexes were mixed after the European Central Bank said that its stimulus measures are helping the economy of the 19 countries that use the euro and need time to work before any new monetary jolts are added. Germany's DAX was little changed, while France's CAC 40 fell 0.2 percent. Britain's FTSE 100 lost 0.1 percent.

In Asia, Japan's Nikkei 225 fell 2.3 percent after Prime Minister Shinzo Abe decided to postpone a sales tax hike to avoid shocks to the faltering recovery. Hong Kong's Hang Seng index rose 0.5 percent. Australia's S&P/ASX 200 lost 0.8 percent. South Korea's KOSPI rose 0.1 percent.

In other energy futures trading, natural gas rose 2 cents, or 1 percent, to close at $2.405 per 1,000 cubic feet. Wholesale gasoline rose 2 cents, or 1.2 percent, at $1.63 a gallon, and heating oil gained a penny to close at $1.51 a gallon.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 1.81 percent from 1.84 late Wednesday.

In currency markets, the dollar fell to 108.91 yen from 109.54 in the previous day's trading. The euro fell to $1.1148 from $1.1186.

Precious and industrial metals futures closed little changed. Gold fell $2.10 to $1,212.60 an ounce, silver gained 10 cents to $16.03 an ounce and copper was flat at $2.07 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-31.5	points or ▼	-0.18%	on	Friday, June 3, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,807.06	▼	-31.50	▼	-0.18%		
	Nasdaq____	4,942.52	▼	-28.85	▼	-0.58%		
	S&P_500___	2,099.13	▼	-6.13	▼	-0.29%		
	30_Yr_Bond____	2.52	▼	-0.07	▼	-2.63%		

NYSE Volume	 3,613,228,250 	 	 	 	 	  		 
Nasdaq Volume	 1,600,255,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,209.63	▲	24.02	▲	0.39%		
	DAX_____	10,103.26	▼	-104.74	▼	-1.03%		
	CAC_40__	4,421.78	▼	-44.22	▼	-0.99%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,392.50	▲	38.30	▲	0.72%		
	Shanghai_Comp	2,938.68	▲	13.45	▲	0.46%		
	Taiwan_Weight	8,587.36	▲	31.34	▲	0.37%		
	Nikkei_225___	16,642.23	▲	79.68	▲	0.48%		
	Hang_Seng.__	20,947.24	▲	88.02	▲	0.42%		
	Strait_Times.__	2,809.23	▲	14.14	▲	0.51%		
	NZX_50_Index_	7,024.38	▲	21.26	▲	0.30%		


*US stocks, dollar slide after weak jobs report*
Associated Press By ALEX VEIGA

Banks and other financial companies led a modest decline in U.S. stocks Friday after a report indicating that hiring slowed sharply in May put investors in a selling mood.

The market slide snapped a two-day winning streak and sent bond prices surging as investors sought safety in U.S. government-backed debt. The dollar also fell sharply against several major currencies.

The downbeat jobs data appeared to convince traders that the Federal Reserve will keep interest rates low longer than previously expected. It also stirred concerns that the economy is slowing.

"What we don't want to see is this number as a beginning of a series of weaker data," said Quincy Krosby, a market strategist at Prudential Financial. "That's going to affect the market."

The Dow Jones industrial average fell 31.50 points, or 0.2 percent, to 17,807.06. The Standard & Poor's 500 index lost 6.13 points, or 0.3 percent, to 2,099.13. The Nasdaq composite index gave up 28.85 points, or 0.6 percent, to 4,942.52.

The Labor Department reported that the U.S. economy added only 38,000 jobs in May, the lowest amount in five years. The unemployment rate fell to 4.7 percent from 5 percent, but mainly because about half a million unemployed people stopped looking for work.

Separate reports out Friday also showed a mixed snapshot of the economy. The Institute of Supply Management said U.S. services firms grew in May at the slowest pace in more than two years, while the Commerce Department said orders to U.S. factories rose in April by the largest amount in six months.

The weak hiring data fueled speculation that the Fed will hold off on raising its key interest rate this summer, something Wall Street was anticipating could happen as soon as July. That weighed on banks and financial services companies, as low interest rates make it harder for banks to make money from loans.

ETrade Financial slumped $1.44, or 5.1 percent, to $26.69, while Charles Schwab lost $1.62, or 5.3 percent, to $29.22. Bank of America fell 52 cents, or 3.5 percent, to $14.42. Citigroup slid $1.58, or 3.4 percent, to $45.39.

All told, financials sector companies posted the biggest drop in the in the S&P 500, sliding 1.4 percent. It's down 1.7 percent this year and is the only one of the 10 sectors in the index that's negative for 2016.

The prospect of interest rates holding steady made U.S. bonds more attractive, sending their prices sharply higher. That demand spike, in turn, pushed the yield on the 10-year Treasury note down 1.70 percent from 1.80 late Thursday.

"What you're seeing today is bonds are rallying because the thought that we're going to see higher rates in the short term has come off the table a bit," said J.J. Kinahan, chief strategist at TD Ameritrade. "It's about pure yield."

The dollar also fell against other major currencies, falling to 106.68 yen from 108.91 the day before. The euro jumped to $1.1347 from $1.1148.

Traders also piled money into precious and industrial metals. Gold rose $30.30, or 2.5 percent, to $1,242.90 an ounce, while silver gained 34 cents, or 2.1 percent, to $16.37 an ounce. Copper added 4 cents, or 2.1 percent, to $2.11 a pound.

The rally in metals helped polish shares in some mining companies. Newmont Mining jumped $3.05, or 9.4 percent, to $35.40, while Freeport-McMoRan added 45 cents, or 4.2 percent, to $11.11.

Utilities companies, which had been down of late as investors bet on the Fed raising rates sooner, rather than later, surged Friday. The sector was the biggest gainer in the S&P 500, climbing 1.7 percent. It's now up 15 percent this year.

Investors also bid up shares in several companies reporting earnings or sales data.

Broadcom climbed 4.9 percent after the communications chip maker posted a bigger-than-expected profit in its fiscal second quarter. The stock climbed $7.65 to $162.56.

Ambarella jumped 9.4 percent after the video compression chip maker's profit and revenue topped Wall Street's expectations. The stock rose $3.99 to $46.47.

Gap rose 4.1 percent after the clothing chain operator reported late Wednesday that sales at established stores declined 6 percent in May, better than the 7 percent drop forecast by financial analysts. The stock added 76 cents to $19.09.

Traders were not as welcoming to Zumiez. The clothing retailer fell 4.2 percent after sales at older stores slumped in its fiscal first quarter. The stock shed 64 cents to $14.42.

Benchmark U.S. crude oil fell 55 cents, or 1.1 percent, to close at $48.62 a barrel in New York. Brent crude, which is used to price international oils, slid 40 cents, or 0.8 percent, to close at $49.64 a barrel in London.

In other energy futures trading, natural gas dropped 1 cent to close at $2.398 per 1,000 cubic feet. Wholesale gasoline slid 3 cents, or 1.7 percent, to close at $1.61 a gallon. Heating oil shed 2 cents, or 1.4 percent, to close at $1.49 a gallon.

In Europe, major stock indexes mostly fell. Germany's DAX fell 1 percent, while France's CAC 40 lost 1 percent. Britain's FTSE 100 rose 0.4 percent.

Earlier in Asia, Japan's benchmark Nikkei 225 added 0.5 percent, while South Korea's Kospi inched up 0.04 percent. Hong Kong's Hang Seng added 0.4 percent. The S&P/ASX 200 of Australia jumped 0.8 percent.

1643


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	113.27	points or ▲	0.64%	on	Monday, June 6, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,920.33	▲	113.27	▲	0.64%		
	Nasdaq____	4,968.71	▲	26.20	▲	0.53%		
	S&P_500___	2,109.41	▲	10.28	▲	0.49%		
	30_Yr_Bond____	2.55	▲	0.03	▲	1.11%		

NYSE Volume	 3,422,401,000 	 	 	 	 	  		 
Nasdaq Volume	 1,575,066,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,273.40	▲	63.77	▲	1.03%		
	DAX_____	10,121.08	▲	17.82	▲	0.18%		
	CAC_40__	4,423.38	▲	1.60	▲	0.04%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,431.00	▲	38.50	▲	0.71%		
	Shanghai_Comp	2,934.10	▼	-4.58	▼	-0.16%		
	Taiwan_Weight	8,597.11	▲	5.54	▲	0.06%		
	Nikkei_225___	16,580.03	▼	-62.20	▼	-0.37%		
	Hang_Seng.__	21,030.22	▲	82.98	▲	0.40%		
	Strait_Times.__	2,831.28	▲	22.05	▲	0.78%		
	NZX_50_Index_	7,024.38	▲	21.26	▲	0.30%		

http://finance.yahoo.com/news/us-stocks-climb-led-energy-141622996.html

*Federal Reserve relief and oil prices send stocks higher

US stocks post solid gains as the price of oil climbs and energy companies trade higher*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- Stocks jumped Monday after Federal Reserve Chair Janet Yellen again managed to soothe investors' jangled nerves. The Standard & Poor's 500 index made its highest close in 2016, and oil prices also reached their highest levels of the year.

Market indexes were higher all day. They weakened a bit during Yellen's remarks, but rose further as investors concluded that the Fed won't raise interest rates again until it is certain higher rates won't stall the economy. Energy companies made the biggest gains as oil prices increased. Banks rose as investors anticipated that interest rates will eventually rise.

Investment manager Luke Bartholomew of Aberdeen Asset Management said Yellen was noncommittal following a weak jobs report on Friday. But Bartholomew said the Fed's decision won't be based on a single report or economic indicator.

"There's still a lot of data to go," he said.

The Dow Jones industrial average gained 113.27 points, or 0.6 percent, to 17,920.33. The S&P 500 rose 10.28 points, or 0.5 percent, to 2,109.41. The Nasdaq composite index picked up 26.20 points, or 0.5 percent, to 4,968.71. The Nasdaq is close to its highs for the year.

Yellen's remarks come after the government released a surprisingly weak jobs report for May on Friday. Yellen, who called that report "disappointing," had said recently that the Fed would probably raise interest rates in the next few months if the economy kept getting stronger. She did not repeat that comment Monday, and investors concluded that the Fed won't raise interest rates until it is certain that doing so won't stall the economy.

Benchmark U.S. crude oil rose $1.07, or 2.2 percent, to $49.69 a barrel in New York. That's its highest closing price this year. Brent crude, which is used to price international oils, gained 91 cents, or 1.8 percent, to $50.55 a barrel in London. That brought energy companies higher. Exxon Mobil added 97 cents, or 1.1 percent, to $89.34.

Independent energy analyst Jim Ritterbusch said oil prices rose because the dollar has weakened since the disappointing jobs report, and acts of sabotage in Nigeria have sapped the country's oil production, boosting crude prices.

The price of oil has rebounded over the last few months, but it's far lower than it was two years ago. That's causing a lot of pain for energy companies.

Oil and gas exploration company Devon Energy said Monday it will sell almost $1 billion in assets later this year to shore up its financial position. That sent its stock up $1.64, or 4.6 percent, to $37.56. Oilfield services company Hercules Offshore filed for Chapter 11 bankruptcy protection for the second time in less than a year. Hercules plans to sell all of its assets to pay off investors, including international divisions. Its stock lost 9 cents, or 6.4 percent, to $1.32.

Rival oilfield service company Halliburton gained $2.04, or 4.8 percent, to $44.89 and Baker Hughes rose $3.28, or 7.1 percent, to $49.52. Drilling rig company Transocean jumped $1.43, or 14.7 percent, to $11.17 after Barron's reported the company won a contract for an operation that will be based off of India.

CF Industries climbed $2.54, or 8.9 percent, to $31.15 and Mosaic rose $1.66, or 6.2 percent, to $28.36. That helped pull materials and chemicals companies higher.

Drugmaker AbbVie slid after investors were disappointed with results from a study of a lung cancer drug AbbVie is acquiring. In April AbbVie agreed to buy StemCentrx for $5.8 billion, gaining the company's stem cell treatment ova-T in the process. But after the results were announced, AbbVie declined $2.18, or 3.4 percent, to $62.82.

Food producer Tyson Foods slumped after a BMO Capital Markets analyst downgraded the food company to "Market Perform." Tyson stock fell $2.33, or 3.7 percent, to $60.88 but is up 49 percent over the last 12 months.

Gold gained $4.50 to $1,247.40 an ounce. Silver rose 8 cents to $16.45 an ounce. Copper was little changed at $2.12 a pound.

In other energy trading, wholesale gasoline lost 2 cents to $1.59 a gallon. Heating oil gained 2 cents to $1.50 a gallon. Natural gas rose 7 cents, or 2.8 percent, to $2.47 per 1,000 cubic feet.

The FTSE 100 index of leading British shares jumped 1 percent as polls showed voters in the U.K. want the nation to leave the European Union. Britain will hold a referendum on membership in the 28-nation bloc on June 23 and campaigning is heating up. The British pound weakened based on the latest polls. Elsewhere Germany's DAX rose 0.2 percent and France's CAC 40 was little changed. Japan's Nikkei 225 fell nearly 0.4 percent and Hong Kong's Hang Seng added 0.4 percent.

Bond yields recovered after a big drop on Friday. As bond prices fell, the yield on the 10-year U.S. Treasury note rose to 1.74 percent from 1.70 percent. The dollar rose to 107.40 yen from 106.68 yen. The euro inched up to $1.1373 from $1.1347.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	17.95	points or ▲	0.10%	on	Tuesday, June 7, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,938.28	▲	17.95	▲	0.10%		
	Nasdaq____	4,961.75	▼	-6.96	▼	-0.14%		
	S&P_500___	2,112.13	▲	2.72	▲	0.13%		
	30_Yr_Bond____	2.53	▼	-0.01	▼	-0.43%		

NYSE Volume	 3,506,703,500 	 	 	 	 	  		 
Nasdaq Volume	 1,668,443,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,284.53	▲	11.13	▲	0.18%		
	DAX_____	10,287.68	▲	166.60	▲	1.65%		
	CAC_40__	4,475.86	▲	52.48	▲	1.19%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,441.00	▲	10.00	▲	0.18%		
	Shanghai_Comp	2,936.04	▲	1.95	▲	0.07%		
	Taiwan_Weight	8,679.90	▲	82.79	▲	0.96%		
	Nikkei_225___	16,675.45	▲	95.42	▲	0.58%		
	Hang_Seng.__	21,328.24	▲	298.02	▲	1.42%		
	Strait_Times.__	2,848.09	▲	16.81	▲	0.59%		
	NZX_50_Index_	7,037.31	▲	12.93	▲	0.18%		

http://finance.yahoo.com/news/us-stocks-keep-rising-oil-142737844.html

*Late sell-off leaves US stocks barely higher; oil rises

US stocks finish with meager gains after a late sell-off erased much of an early gain*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- Stock indexes inched upward Tuesday, led by gains in energy companies as the price of oil closed above $50 a barrel for the first time in almost a year.

The market had been on track for its highest close since last July, but an afternoon stumble erased most of the early rally, leaving broad indicators with meager gains for the day.

Slumping bond yields increased the appeal of high-dividend stocks, sending prices for phone companies higher. Health care stocks sank as a series of poor results from clinical trials knocked drugmakers lower.

The Dow Jones industrial average held onto a gain of 17.95 points, or 0.1 percent, to 17,938.28. The Dow was up as much as 82 points earlier.

The S&P 500 rose 2.72 points, or 0.1 percent, to 2,112.13. The Nasdaq composite, which is heavily weighted with biotech companies, lost 6.96 points, or 0.1 percent, to 4,961.75.

Benchmark U.S. crude oil added 67 cents, or 1.3 percent, to $50.36 a barrel in New York. Oil hasn't closed at $50 a barrel or higher since July 21. Brent crude, which is used to price international oils, added 89 cents, or 1.8 percent, to $51.44 a barrel in London.

Among energy companies, Chevron rose $2.15, or 2.1 percent, to $103.32 while Newfield Exploration added $1.87, or 4.7 percent, to $41.81. Helmerich & Payne gained $2.61, or 4 percent, to $67.35.

The dollar plunged following Friday's jobs report as investors concluded that the Fed won't raise interest rates any time soon. That has helped energy companies by putting upward pressure on the price of crude oil. Industrial companies have also had a good run.

"When you get a Fed that is now perceived to be lower for longer (on interest rates), with a dollar that is less likely to rally, and an economy that may be slowing but is not in recession, that has tended to be a positive for those stocks in 2016," said Julian Emanuel, U.S. equities and derivatives strategist for UBS.

Bond prices rose, sending the yield on the 10-year U.S. Treasury note down to 1.72 percent from 1.74 percent. That made bonds less appealing, and sent income-seeking investors into phone company stocks. Verizon added $1.04, or 2.1 percent, to $51.75.

Two biotech drugmakers tumbled after important drugs failed in clinical testing. Biogen, which makes several treatments for multiple sclerosis, said a potential drug called opicinumab failed in a mid-stage clinical trial. Its stock dropped $36.98, or 12.8 percent, to $252.86.

Alexion Pharmaceuticals said a study of its drug Soliris failed, and its stock lost $16.86, or 10.9 percent, to $138.13. The company gets almost all of its revenue from Soliris, which is approved to treat two rare blood disorders, and an additional approval could have strengthened its sales. Both Biogen and Alexion have plunged by about one-third since July.

Canadian drugmaker Valeant Pharmaceuticals disclosed its delayed quarterly results and cut its profit and revenue estimates for the year. Its stock gave up $4.21, or 14.6 percent, to $24.64, and it's down 90 percent since mid-September.

Banks took more losses, as the prospect of lower interest rates suggested diminished profits. Goldman Sachs lipped $1.89, or 1.2 percent, to $155.17 and Morgan Stanley gave up 33 cents, or 1.2 percent, to $26.52.

Organic and specialty foods distributor United Natural Foods posted a larger-than-expected profit in its fiscal third quarter, and the company raised its projections for the year. Its stock jumped $5.45, or 14 percent, to $44.28.

Real estate information website Zillow said will pay $130 million to settle a lawsuit brought by competitor Move Inc. Move, which is owned by News Corp., said Zillow hired two of its executives and obtained trade secrets that helped the Zillow buy another rival, Trulia, in 2014. Move said it would seek as much as $1.8 billion in damages. Zillow Group stock gained $1.74, or 5.7 percent, to $32.07.

Surgical implant maker Zimmer Biomet said it will buy spine surgery products maker LDR Holding for $1 billion, or $37 per share. LDR jumped $14.41, or 63.8 percent, to $36.99 and Zimmer fell $2.11, or 1.7 percent, to $119.43.

Metals prices hardly budged. Gold fell 40 cents to $1,247 an ounce. Silver slipped 5 cents to $16.39 an ounce. Copper fell 1 cent to $2.05 a pound.

In other energy trading, wholesale gasoline held steady at $1.59 a gallon. Heating oil added 4 cents to $1.54 a gallon. Natural gas gained 1 cent to $2.47 per 1,000 cubic feet.

Overseas, Germany's DAX rose 1.6 percent and the CAC-40 in France was up 1.2 percent. The FTSE 100 index of leading British shares edged up 0.2 percent. Japan's Nikkei 225 rose 0.6 percent and South Korea's Kospi gained 1.3 percent. Hong Kong's Hang Seng Index rose 1.4 percent.

The dollar slipped to 107.31 yen from 107.40 yen. The euro fell to $1.1361 from $1.1373.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	66.77	points or ▲	0.37%	on	Wednesday, June 8, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,005.05	▲	66.77	▲	0.37%		
	Nasdaq____	4,974.64	▲	12.89	▲	0.26%		
	S&P_500___	2,119.12	▲	6.99	▲	0.33%		
	30_Yr_Bond____	2.51	▼	-0.02	▼	-0.83%		

NYSE Volume	 3,552,408,750 	 	 	 	 	  		 
Nasdaq Volume	 1,639,710,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,301.52	▲	16.99	▲	0.27%		
	DAX_____	10,217.03	▼	-70.65	▼	-0.69%		
	CAC_40__	4,448.73	▼	-27.13	▼	-0.61%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,441.10	▲	0.10	▲	0.00%		
	Shanghai_Comp	2,927.16	▼	-8.89	▼	-0.30%		
	Taiwan_Weight	8,715.48	▲	35.58	▲	0.41%		
	Nikkei_225___	16,830.92	▲	155.47	▲	0.93%		
	Hang_Seng.__	21,297.88	▼	-30.36	▼	-0.14%		
	Strait_Times.__	2,862.38	▲	14.29	▲	0.50%		
	NZX_50_Index_	6,991.51	▼	-45.80	▼	-0.65%		

http://finance.yahoo.com/news/us-stocks-rise-weaker-dollar-143056165.html

*US stocks extend gains as mining and machinery makers rise*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” Stocks rose for the third day in a row Wednesday as machinery and mining companies traded higher. Oil prices also continued their rise, and stocks and oil prices are at their highest in almost a year.

Metals prices jumped as the dollar got weaker. Also trading higher were makers of beverages and other consumer goods. That's because a weaker dollar could mean better sales and bigger profits for U.S. companies that do a lot of business overseas.

Kate Warne, an investment strategist for Edward Jones, said the dollar weakness won't last: the Federal Reserve is preparing to eventually raise interest rates, which will make the dollar stronger, while stimulus policies of central banks in Europe and Japan will cause their own currencies to depreciate.

"The dollar will bounce around," she said. "It's not likely to weaken a whole lot given the gap in central bank policies."

The Dow Jones industrial average rose 66.77 points, or 0.4 percent, to 18,005.05. The Standard & Poor's 500 index gained 6.99 points, or 0.3 percent, to 2,119.12. The Nasdaq composite added 12.89 points, or 0.3 percent, to 4,974.64. The S&P 500 and oil prices are both at their highest levels since July, and the Nasdaq hasn't been this high since Dec. 31.

Machinery maker Caterpillar rose $1.30, or 1.7 percent, to $78.11 and engine maker Cummins picked up $1.72, or 1.5 percent, to $118.87. Gold and copper producer Freeport-McMoRan added 34 cents, or 3 percent, to $11.58 and gold producer Newmont Mining gained 43 cents, or 1.2 percent, to $35.38.

The dollar declined to 106.94 yen from 107.31 yen late Tuesday. The euro edged up to $1.1397 from $1.1361. The dollar has been very strong over the last few years but slipped a bit in the wake of Friday's disappointing jobs report.

The dollar declined to 106.94 yen from 107.31 yen late Tuesday. The euro edged up to $1.1397 from $1.1361. The dollar has been very strong over the last few years but slipped a bit in the wake of Friday's disappointing jobs report.

The price of gold jumped $15.30, or 1.2 percent, to $1,262.30 an ounce and silver leaped 59 cents, or 3.6 percent, to $16.99 an ounce. Copper added 1 cent to $2.06 a pound.

Oil prices continued to rise. Benchmark U.S. crude rose 87 cents, or 1.7 percent, to $51.23 a barrel in New York. Brent crude, the benchmark for international oil prices, jumped $1.07, or 2.1 percent, to $52.51 a barrel in London.

Brown-Forman, the maker of Jack Daniel's and other liquor brands, gained ground after it reported strong fourth-quarter results. The stock gained $3.45, or 3.5 percent, to $100.80. Competitor Constellation Brands, which makes Corona, Negra Modelo and Pacifico beers, rose $2.95, or 2 percent, to $154.06 and Molson Coors rose $1.89, or 1.9 percent, to $103.60.

Other makers of household goods also rose. Kellogg added 92 cents, or 1.2 percent, to $76.08 and PepsiCo edged up 69 cents to $103.18.

Utility companies gained ground as bond yields fell. Utilities are stable, dividend-paying investments that are often compared to bonds, and investors bought them as yields decreased. NextEra Energy rose $1.81, or 1.5 percent, to $122.92 and Duke Energy added 52 cents to $80.51.

VeriFone Systems, which makes terminals used for electronic payments, slashed its annual forecast after it reported disappointing quarterly results. The company said it will eliminate jobs and review some of its struggling businesses. The stock gave up $6.96, or 24.7 percent, to $21.27.

Restaurant chain Dave & Buster's climbed $4.29, or 10.2 percent, to $46.15 after the company reported strong first-quarter results and raised its outlook for the year.

Headphones maker Skullcandy surged after the company's founder said he might want to take the company private. Rick Alden, Skullcandy's largest shareholder, disclosed the idea in a form filed with the Securities and Exchange Commission.

Skullcandy stock climbed 63 cents, or 16 percent, to $4.56.

In other energy trading, wholesale gasoline gained 3 cents to $1.62 a gallon. Heating oil picked up 3 cents to $1.57 a gallon. Natural gas was unchanged at $2.47 per 1,000 cubic feet.

Germany's DAX was down 0.7 percent and France's CAC-40 shed 0.6 percent. Britain's FTSE 100 added 0.3 percent. Tokyo's Nikkei 225 gained 0.9 percent and Seoul's Kospi advanced 0.8 percent.

U.S. government bond prices rose. The yield on the 10-Year U.S. Treasury note fell to 1.70 percent from 1.72 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-19.86	points or ▼	-0.11%	on	Thursday, June 9, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,985.19	▼	-19.86	▼	-0.11%		
	Nasdaq____	4,958.62	▼	-16.03	▼	-0.32%		
	S&P_500___	2,115.48	▼	-3.64	▼	-0.17%		
	30_Yr_Bond____	2.48	▼	-0.03	▼	-1.27%		

NYSE Volume	 3,275,931,250 	 	 	 	 	  		 
Nasdaq Volume	 1,544,175,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,231.89	▼	-69.63	▼	-1.10%		
	DAX_____	10,088.87	▼	-128.16	▼	-1.25%		
	CAC_40__	4,405.61	▼	-43.12	▼	-0.97%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,437.40	▼	-3.70	▼	-0.07%		
	Shanghai_Comp	2,927.16	▼	-8.89	▼	-0.30%		
	Taiwan_Weight	8,715.48	▲	35.58	▲	0.41%		
	Nikkei_225___	16,668.41	▼	-162.51	▼	-0.97%		
	Hang_Seng.__	21,297.88	▼	-30.36	▼	-0.14%		
	Strait_Times.__	2,843.80	▼	-18.58	▼	-0.65%		
	NZX_50_Index_	6,970.55	▼	-20.96	▼	-0.30%		

http://finance.yahoo.com/news/us-stocks-retreat-banks-mining-companies-fall-141110566--finance.html#

*Winning streak for stocks ends as banks and miners slump

US stocks finish a bit lower, ending a three-day string of gains*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- A three-day winning streak for U.S. stocks ended quietly Thursday. A decline in bond yields sent bank stocks lower, while utilities and phone companies moved higher.

Stocks traded lower all day as investors took some profits. Banks took the biggest losses, followed by metals companies. With bond yields down, investors snapped up phone and utility company shares. Household goods makers turned higher late in the day, but that wasn't enough to cancel out losses elsewhere.

"There's just a little lack of confidence in the market," said Steve Quirk, executive vice president of trading for TD Ameritrade. "When you're sitting near 11 month highs and there is uncertainty, people are going to be cautious."

The Dow Jones industrial average slid 19.86 points, or 0.1 percent, to 17,985.19. The Standard & Poor's 500 index lost 3.64 points, or 0.2 percent, to 2,115.48. The Nasdaq composite declined 16.03 points, or 0.3 percent, to 4,958.62.

Stocks are still up for the week. Over the last few days the S&P 500 has reached its highest levels since last July. Oil prices have done the same.

Bond prices rose, sending the yield on the 10-year U.S. Treasury note down to 1.68 percent from 1.70 percent a day earlier. Lower bond yields drive down interest rates on mortgages and other kinds of loans, making them less profitable for banks.

Mortgage agency Freddie Mac reported that mortgage rates fell this week after three weeks of increases. Freddie Mac said the average 30-year fixed-rate mortgage slipped to 3.60 percent from 3.66 percent last week. A year ago the rate was 4.04 percent.

Bank of America gave up 24 cents, or 1.7 percent, to $14.19 and Capital One fell $1.23, or 1.7 percent, to $70.87.

Mining and chemicals companies also weakened. Copper and gold producer Freeport-McMoRan fell 68 cents, or 5.9 percent, to $10.90 and Eastman Chemical fell $1.84, or 2.5 percent, to $71.78.

Utilities and phone company stocks made modest gains as bond yields fell. Those stocks are seen as similar to bonds because they pay large dividends, so low bond yields make them more appealing by comparison. Ameren advanced $1.21, or 2.4 percent, to $50.89 and PG&E picked up 97 cents, or 1.6 percent, to $62.98. AT&T added 23 cents to $40.09.

Jam and spreads maker J.M. Smucker climbed after it reported strong fourth-quarter sales of coffee products and pet foods. The company also gave an optimistic profit forecast for the current fiscal year. Its stock jumped $10.52, or 7.9 percent, to $143.23.

Other consumer goods makers followed Smucker's lead late in the day. Tyson Foods rose $1.52, or 2.5 percent, to $61.28 and Kellogg picked up $1.61, or 2.1 percent, to $77.69.

U.S. crude shed 67 cents, or 1.3 percent, to $50.56 a barrel in New York. Brent crude, the benchmark for international oil prices, fell 56 cents, or 1.1 percent, to $51.95 a barrel in London.

Other companies tumbled after their earnings disappointing investors. Home furnishings retailer Restoration Hardware cut its forecast for the year after it reported weak quarterly results. The company said it's facing weaker sales of luxury goods. Its stock lost $7.66, or 21.2 percent, to $28.41.

Menswear chain Tailored Brands disclosed weak first-quarter results as its Men's Wearhouse brand struggled. The stock tumbled $3.19, or 20.5 percent, to $12.34.

Airlines traded higher as oil prices dropped, which could reduce their fuel costs. American Airlines added 89 cents, or 2.7 percent, to $33.40 and United Continental rose $1.01, or 2.2 percent, to $46.70.

Gold rose $10.40, or 0.8 percent, to $1,272.70 an ounce. Silver added 28 cents to $17.27 an ounce. Copper fell 2 cents to $2.04 a pound.

In other energy trading, wholesale gasoline was unchanged at $1.62 a gallon. Heating oil fell 2 cents to $1.55 a gallon. Natural gas jumped 15 cents to $2.62 per 1,000 cubic feet.

European stock indexes skidded after European Central Bank President Mario Draghi warned that national governments need to make more reforms to get the regional economy going. Draghi said the central bank can't the economy on its own. Germany's DAX fell 1.3 percent and Britain's FTSE 100 slid 1.1 percent. France's CAC 40 lost 1 percent.

Tokyo's Nikkei 225 shed 1 percent after the government reported that domestic and foreign private machinery orders fell in April from the month before, which suggests capital investment remains weak. South Korea's KOSPI was 0.1 percent lower.

The dollar fell to 106.75 yen from 106.94 yen on Wednesday. The euro dropped to $1.1327 from $1.1397.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-119.85	points or ▼	-0.67%	on	Friday, June 10, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,865.34	▼	-119.85	▼	-0.67%		
	Nasdaq____	4,894.55	▼	-64.07	▼	-1.29%		
	S&P_500___	2,096.07	▼	-19.41	▼	-0.92%		
	30_Yr_Bond____	2.45	▼	-0.03	▼	-1.37%		

NYSE Volume	 3,483,899,000 	 	 	 	 	  		 
Nasdaq Volume	 1,683,269,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,115.76	▼	-116.13	▼	-1.86%		
	DAX_____	9,834.62	▼	-254.25	▼	-2.52%		
	CAC_40__	4,306.72	▼	-98.89	▼	-2.24%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,391.60	▼	-45.80	▼	-0.84%		
	Shanghai_Comp	2,927.16	▼	-8.89	▼	-0.30%		
	Taiwan_Weight	8,715.48	▲	35.58	▲	0.41%		
	Nikkei_225___	16,601.36	▼	-67.05	▼	-0.40%		
	Hang_Seng.__	21,042.64	▼	-255.24	▼	-1.20%		
	Strait_Times.__	2,822.97	▼	-20.83	▼	-0.73%		
	NZX_50_Index_	6,971.78	▲	1.23	▲	0.02%		

http://finance.yahoo.com/news/asian-stocks-slip-investors-await-061904198.html

*US stocks give up recent gains as oil prices sink

US stocks fall Friday as energy companies are hammered by the largest decline in oil prices in two months*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- U.S. stocks skidded Friday in a wave of selling that wiped out most of the market's gains from earlier this week. A drop in oil prices took energy companies sharply lower. Investors were also troubled by a poll showing Britain may be more likely to leave the European Union.

Oil prices fell by the largest amount in two months, and banks slumped as bond yields fell for the second consecutive day, pulling interest rates lower. Machinery, technology and consumer stocks also lost ground. It was the market's biggest loss in more than three weeks.

Eric Wiegand, senior portfolio manager for U.S. Bank's Private Client Reserve, said investors are guessing at the outcome of the British referendum and the Federal Reserve's meeting next week, as well as the impending U.S. presidential election.

"There's just not a good way to handicap the outcome just yet," he said.

The Dow Jones industrial average lost 119.85 points, or 0.7 percent, to 17,865.34. The Standard & Poor's 500 index fell 19.41 points, or 0.9 percent, to 2,096.07. The Nasdaq composite shed 64.07 points, or 1.3 percent, to 4,894.55.

U.S. crude shed $1.49, or 2.9 percent, to $49.07 a barrel in New York. Brent crude, the benchmark for international oil prices, fell $1.28, or 2.5 percent, to $50.56 a barrel in London. Oil prices had reached 11-month highs in the last few days.

ConocoPhillips gave up $2.06, or 4.4 percent, to $44.51 and oilfield services company Schlumberger shed $1.43, or 1.8 percent, to $78.53.

As they did Thursday, banks fell along with bond yields. Lower bond yields drive down interest rates on mortgages and other kinds of loans, and that makes them less profitable for banks. Citigroup sank $1.11, or 2.5 percent, to $43.90 and JPMorgan Chase lost 91 cents, or 1.4 percent, to $63.84.

Bond prices rose further and the yield on the 10-year U.S. Treasury note sank to 1.64 percent from 1.69 percent.

The drop in bond yields sent phone companies higher, as those stocks' high dividend yields are comparable to bonds. Verizon Communications rose 72 cents, or 1.4 percent, to $52.67.

Stocks started the week with three days of gains and reached their highest levels in months, but finished back where they started. For the week the Dow was a bit higher, the Nasdaq lower, and the S&P 500 essentially unchanged.

That showed investors are cautiously optimistic, as the U.S. economy is still growing and corporate profits are expected to pick up later in the year. But they're also very sensitive to uncertainty or potential trouble, whether it's from slower global growth or Fed policy or Britain's status in the European Union.

A poll in London's The Independent showed that 55 percent of British citizens want to leave the European Union. Some investors fear Britain's economy will be damaged if it votes to leave the EU, and that other nations might follow Britain's lead.

Consumer stocks also fell, with some of the sharpest losses going to big names. Netflix slid $3.34, or 3.4 percent, to $93.75 and Amazon declined $9.74, or 1.3 percent, to $717.91.

Retailer Urban Outfitters slumped after it said sales at established stores are continuing to fall in the second quarter so far. Those sales are considered an important measure of retailer performance. The company's stock slid $1.61, or 5.8 percent, to $26.32.

Westlake Chemical Corp. said it will buy Axiall for $33 per share, or $2.33 billion. The agreement ends a takeover dispute that had lasted all year, and it will create one of the largest producers of chlorine, plastics and other chemicals. Axiall jumped $6.75, or 26.2 percent, to $32.56 and Westlake rose $1.34, or 3 percent, to $46.40.

Tax preparer H&R Block posted a bigger profit and more revenue than analysts expected, sending its stock up $2.69, or 12.5 percent, to $24.23. That was by far the largest gain among S&P 500 stocks.

Global Blood Therapeutics climbed after it reported positive results from an early clinical study of its most advanced drug, a potential treatment for sickle cell disease. The company's stock gained $2, or 9 percent, to $24.15.

Mattress Firm, the bedding maker behind Serta, Sealy, and other brands, reported a bigger loss and less revenue than expected and cut its estimates for the year. Its stock dropped $4.18, or 12.4 percent, to $29.40.

Gold rose $3.20 to $1,275.90 an ounce. Silver gained 6 cents to $17.33 an ounce. Copper fell 1 cent to $2.03 a pound.

In other energy trading, wholesale gasoline dropped 6 cents to $1.56 a gallon. Heating oil fell 4 cents to $1.52 a gallon. Natural gas lost 6 cents to $2.56 per 1,000 cubic feet.

Germany's DAX fell 2.5 percent and the CAC 40 in France slumped 2.2 percent. Britain's FTSE 100 lost 1.9 percent. Japan's benchmark Nikkei 225 index lost 0.4 percent while South Korea's Kospi dipped 0.3 percent. Hong Kong's Hang Seng shed 1.2 percent.

The dollar declined to 106.79 yen from 106.83 yen. The euro fell to $1.1259 from $1.1331.

2299


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-132.86	points or ▼	-0.74%	on	Monday, June 13, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,732.48	▼	-132.86	▼	-0.74%		
	Nasdaq____	4,848.44	▼	-46.11	▼	-0.94%		
	S&P_500___	2,079.06	▼	-17.01	▼	-0.81%		
	30_Yr_Bond____	2.43	▼	-0.01	▼	-0.53%		

NYSE Volume	 3,359,003,000 	 	 	 	 	  		 
Nasdaq Volume	 1,704,941,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,044.97	▼	-70.79	▼	-1.16%		
	DAX_____	9,657.44	▼	-177.18	▼	-1.80%		
	CAC_40__	4,227.02	▼	-79.70	▼	-1.85%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,391.60	▼	-45.80	▼	-0.84%	HOLIDAY MONDAY	
	Shanghai_Comp	2,833.07	▼	-94.09	▼	-3.21%		
	Taiwan_Weight	8,536.22	▼	-179.26	▼	-2.06%		
	Nikkei_225___	16,019.18	▼	-582.18	▼	-3.51%		
	Hang_Seng.__	20,512.99	▼	-529.65	▼	-2.52%		
	Strait_Times.__	2,785.43	▼	-37.54	▼	-1.33%		
	NZX_50_Index_	6,924.27	▼	-47.51	▼	-0.68%		

http://finance.yahoo.com/news/asian-shares-fall-ahead-fed-053037365.html#

*Stocks fall before Fed meeting; LinkedIn soars on buyout

US and global stocks fell for a third day on Monday, as concerned investors waited to see what the Federal Reserve would do with interest rates later this week and anxiously awaited the fate of Britain's membership in the European Union*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- U.S. and global stocks fell for a third day on Monday, as concerned investors waited to see what the Federal Reserve would do with interest rates later this week and anxiously awaited the fate of Britain's membership in the European Union.

LinkedIn shares jumped after Microsoft announced plans to buy the company.

The Dow Jones industrial average lost 132.86 points, or 0.7 percent, to 17,732.48. The Standard & Poor's 500 index fell 17.01 points, or 0.8 percent, to 2,079.06 and the Nasdaq composite fell 46.11 points, or 0.9 percent, to 4,848.44.

The Federal Reserve had been expected to start raising interest rates, but now appears likely to remain in a wait-and-see mode. The central bank's two-day meeting will start Tuesday, with a decision on interest rates Wednesday afternoon. Fed Chair Janet Yellen is scheduled to hold a news conference after the interest rate decision.

While last month many investors were betting that the Fed would raise interest rates, the two most recent monthly jobs reports in the U.S. have put a damper on those expectations.

Investors' lack of confidence that the Fed will raise rates could be seen in bonds and the U.S. dollar. The yield on the 10-year U.S. Treasury note fell to 1.61 percent from 1.64 percent on Friday, its lowest yield so far this year. The dollar, while off its lows, is still also trading near its lows for the year against other major currencies.

Combined with the weight of the Fed decision, stocks, particularly in Europe, remain under pressure on investor concerns over whether Britain will choose to remain in the European Union in a June 23 referendum. Recent polls have shown the race is tight, with some polls showing a majority of British voters are in favor of exiting the EU, a development known informally as "Brexit."

"This week's Fed meeting feels like a bit of a sideshow, given the focus on Brexit and the market's appropriate belief that the Fed is unlikely to (raise) ahead of such an ... event," said John Briggs, head of strategy for the Americas at RBS, in a note to investors.

Germany's DAX closed down 1.8 percent, France's CAC-40 fell 1.9 percent and the U.K.'s FTSE 100 fell 1.2 percent.

Shares of professional social networking site LinkedIn soared $61.13, or 47 percent, to $192.21 after Microsoft announced it was purchasing the company for $26.2 billion in cash. Shares of Microsoft fell $1.34, or 2.6 percent, to $50.14 after the deal was announced.

Twitter shares jumped as well, up 53 cents, or 4 percent, to $14.55 on speculation that LinkedIn's buyout could mean better buyout prospects for that social media service.

Security software company Symantec jumped 91 cents, or 5 percent, to $18.21 after the company said it would purchase another security company, Blue Coat, for $4.6 billion. Blue Coat had plans to go public later this year. Symantec was the biggest gainer in the S&P 500.

In currencies, the dollar fell to 106.21 yen from 106.79 yen. The dollar fell slightly against the euro to $1.1291 and rose slightly against the British pound to $1.423.

U.S. crude fell 19 cents to $48.88 a barrel. Brent crude, the benchmark for international oil prices, fell 19 cents to $50.35 a barrel in London. Oil prices had reached 11-month highs in the last few days.

In other energy commodities, heating oil was effectively unchanged at $1.515 a gallon, wholesale gasoline futures fell 2 cents to $1.536 a gallon and natural gas rose 3 cents to $2.585 per thousand cubic feet.

In the metals markets, gold rose $11.00 to $1,286.90 an ounce, silver rose 11 cents to $17.44 an ounce and copper rose two cents to $2.054 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-57.66	points or ▼	-0.33%	on	Tuesday, June 14, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,674.82	▼	-57.66	▼	-0.33%		
	Nasdaq____	4,843.55	▼	-4.89	▼	-0.10%		
	S&P_500___	2,075.32	▼	-3.74	▼	-0.18%		
	30_Yr_Bond____	2.42	▼	-0.01	▼	-0.37%		

NYSE Volume	 3,747,559,750 	 	 	 	 	  		 
Nasdaq Volume	 1,708,850,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,923.53	▼	-121.44	▼	-2.01%		
	DAX_____	9,519.20	▼	-138.24	▼	-1.43%		
	CAC_40__	4,130.33	▼	-96.69	▼	-2.29%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,282.50	▼	-109.10	▼	-2.02%		
	Shanghai_Comp	2,842.19	▲	9.12	▲	0.32%		
	Taiwan_Weight	8,576.12	▲	39.90	▲	0.47%		
	Nikkei_225___	15,859.00	▼	-160.18	▼	-1.00%		
	Hang_Seng.__	20,387.53	▼	-125.46	▼	-0.61%		
	Strait_Times.__	2,768.33	▼	-17.10	▼	-0.61%		
	NZX_50_Index_	6,834.95	▼	-89.32	▼	-1.29%		

http://finance.yahoo.com/news/us-gl...ak-ahead-fed-meeting-141442217--finance.html#

*Stocks fall again as Fed decision, Brexit vote looms*
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks in the U.S. and other global markets fell for a fourth day Tuesday as jittery investors await for the Federal Reserve's decision on interest rates and worried about Britain's expected close vote on whether to leave the European Union.

Credit card company stocks fell sharply after Synchrony Financial, the country's leading issuer of store brand credit cards, warned that more of its customers were falling behind on payments.

The Dow Jones industrial average fell 57.66 points, or 0.3 percent, to 17,674.82. The Standard & Poor's 500 index fell 3.74 points, or 0.2 percent, to 2,075.32 and the Nasdaq composite fell 4.89 points, or 0.1 percent, to 4,843.55.

As stocks declined, U.S. government bond yields remained at their lowest levels since 2012 as investors sought safety ahead of the Fed meeting and the vote in Britain. The yield on the 10-year Treasury note was 1.62 percent, up slightly from a day earlier.

In Europe, benchmark German government bond yields fell below zero percent for the first time, a signal that skittish investors are willing to pay to park their money in investments they consider super-safe.

The Federal Reserve's two-day meeting started Tuesday, with a decision on interest rates to be announced Wednesday. The Fed had been expected to raise interest rates, but following some weak economic data, including the most recent monthly jobs report, it now appears likely to wait.

Most investors are focused overseas right now. There is grave uncertainty about whether British voters will choose to leave the European Union in a June 23 referendum. Polls show the vote could go either way and investors are starting to worry about the consequences.

A British exit from the EU, known informally as Brexit, would likely hurt the British economy most and destabilize the rest of Europe. The repercussions, however, are not clear and investors are reacting to the general uncertainty over the situation.

"Investors are 'Brexit' proofing their portfolios right now," said Anastasia Amoroso, a global markets strategist at JPMorgan Asset Management.

Amoroso said that if the U.K. were to leave the EU, both the British and European Central Banks would likely lower interest rates to stabilize the continent's economy, which would put pressure on bonds.

"Expect drastic volatility around this vote, and if it does in fact happen look for more countries to leave the EU as well," said Tom di Galoma, a bond trader and managing director at Seaport Global, in an email.

In individual companies, Synchrony Financial plunged $3.99, or 13 percent, to $26.45 after the company disclosed that more of its customers were falling behind on payments. The company is also taking losses on more accounts than anticipated.

The news hit other credit card companies hard. American Express fell $2.60, or 4 percent, to $61.07 and Capital One Financial fell $4.57, or 6.6 percent, to $64.43.

In commodities, benchmark U.S. crude dropped 39 cents to $48.49 per barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, fell 52 cents to $49.83 per barrel in London.

Wholesale gasoline futures fell 1 cent to $1.52 a gallon, heating old fell 1 cent to $1.50 a gallon and natural gas rose 2 cents to $2.604 per thousand cubic feet.

Gold rose $1.20 to $1,288.10 an ounce, silver fell 2 cents to $17.42 an ounce and copper fell 1 cent to $2.04 a pound

The dollar fell to 105.97 yen from 106.21 yen. The euro edged down to $1.1205 from $1.1293.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-34.65	points or ▼	-0.20%	on	Wednesday, June 15, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,640.17	▼	-34.65	▼	-0.20%		
	Nasdaq____	4,834.93	▼	-8.62	▼	-0.18%		
	S&P_500___	2,071.50	▼	-3.82	▼	-0.18%		
	30_Yr_Bond____	2.42	▲	0.00	▼	-0.08%		

NYSE Volume	 3,511,333,750 	 	 	 	 	  		 
Nasdaq Volume	 1,653,014,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,966.80	▲	43.27	▲	0.73%		
	DAX_____	9,606.71	▲	87.51	▲	0.92%		
	CAC_40__	4,171.58	▲	41.25	▲	1.00%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,230.40	▼	-52.10	▼	-0.99%		
	Shanghai_Comp	2,887.21	▲	45.02	▲	1.58%		
	Taiwan_Weight	8,606.37	▲	30.25	▲	0.35%		
	Nikkei_225___	15,919.58	▲	60.58	▲	0.38%		
	Hang_Seng.__	20,467.52	▲	79.99	▲	0.39%		
	Strait_Times.__	2,774.25	▲	5.92	▲	0.21%		
	NZX_50_Index_	6,869.56	▲	34.61	▲	0.51%		

http://finance.yahoo.com/news/us-stocks-bounce-back-mining-140709739.html

*A late decline erases gains for US stock market indexes*
Associated Press By KEN SWEET

NEW YORK (AP) ”” The stock market fell for a fifth straight day Wednesday as investors set aside the Federal Reserve's interest rate decision and remained focused on next week's vote on whether Britain will remain in the European Union.

The Dow Jones industrial average fell 34.65 points, or 0.2 percent, to 17,640.17. The Standard & Poor's 500 index fell 3.82 points, or 0.2 percent, to 2,071.50 and the Nasdaq composite fell 8.62 points, or 0.2 percent, to 4,834.93.

As expected, the Federal Reserve's policymakers voted to keep interest rates unchanged at their current level of 0.25 percent to 0.50 percent.

In their statement, the Fed said that while U.S. economic activity continues to strengthen, "the pace of improvement in the labor market has slowed," a reference to the April and May job reports that were weaker than anticipated.

"After that May jobs report, I think today's decision was a fait accompli," said Kristina Hooper, head of U.S. investment strategies at Allianz Global Investors, after the decision was announced. "They needed to hit the pause button for June, but I think a July rate hike still remains a distinct possibility."

Bond prices remained high, keeping yields low. The yield on the 10-year U.S. Treasury note fell to 1.58 percent from 1.61 percent a day earlier. Bond investors said the uncertainty about the British vote has forced European investors to buy up U.S. government bonds in a search for yield and security, pushing bond yields to their lowest levels in years.

"We are in a rare moment where the highest quality creditor, the United States, is also the creditor with the highest interest rate," said Brandon Swensen, senior portfolio manager and co-head of U.S. fixed income at RBC Global Asset Management.

With the Fed decision revealed, most investors are focused on the other side of the Atlantic. There is grave uncertainty about whether British voters will choose to leave the European Union in a June 23 referendum. Polls show the vote could go either way and investors are starting to worry about the consequences.

A British exit from the EU, which investors have taken to referring to as "Brexit," would likely hurt the British economy most and destabilize the rest of Europe. The repercussions, however, are not clear and investors are reacting to the general uncertainty over the situation.

During her press conference, Yellen said Fed policymakers said the upcoming vote was one of the reasons why the central bank kept interest rates unchanged.

"The potential disruption from (a British exit from the EU) has not loomed as large with investors as it should have. Now that the Fed decision over, the (vote will be all they'll be talking about," Hooper said.

Among individual companies, Whole Foods Market fell $1.62, or 5 percent, to $30.90 after the Food and Drug Administration said there were "serious violations" at a kitchen in Massachusetts that may have resulted in contaminated food and the grocery chain hasn't done enough to fix them so far.

Benchmark U.S. crude oil fell 48 cents to close at $48.01 a barrel in New York. The price has fallen 6.3 percent over the last five days. Brent crude, used to price international oils, fell 86 cents to close at $48.97 a barrel in London.

In other energy commodities, wholesale gasoline futures fell 2 cents to $1.50 a gallon, heating oil closed down 2 cents to $1.48 a gallon and natural gas fell 1 cent to $2.595 per 1,000 cubic feet.

The dollar rose to 105.98 yen from 105.97 yen. The euro edged up to $1.1268 from $1.1205.

Gold prices rose 20 cents to $1,288.30 an ounce. Silver rose 8 cents to $17.50 an ounce and copper closed up five cents to $2.091 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	92.93	points or ▲	0.53%	on	Thursday, June 16, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,733.10	▲	92.93	▲	0.53%		
	Nasdaq____	4,844.92	▲	9.98	▲	0.21%		
	S&P_500___	2,077.99	▲	6.49	▲	0.31%		
	30_Yr_Bond____	2.38	▼	-0.04	▼	-1.65%		

NYSE Volume	 3,615,201,250 	 	 	 	 	  		 
Nasdaq Volume	 1,658,406,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,950.48	▼	-16.32	▼	-0.27%		
	DAX_____	9,550.47	▼	-56.24	▼	-0.59%		
	CAC_40__	4,153.01	▼	-18.57	▼	-0.45%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,231.70	▲	1.30	▲	0.02%		
	Shanghai_Comp	2,872.82	▼	-14.39	▼	-0.50%		
	Taiwan_Weight	8,494.14	▼	-112.23	▼	-1.30%		
	Nikkei_225___	15,434.14	▼	-485.44	▼	-3.05%		
	Hang_Seng.__	20,038.42	▼	-429.10	▼	-2.10%		
	Strait_Times.__	2,751.56	▼	-22.69	▼	-0.82%		
	NZX_50_Index_	6,888.57	▲	19.01	▲	0.28%		

http://finance.yahoo.com/news/stock...in-british-vote-looms-143249301--finance.html

*Stocks stage late-day comeback to end 5 days of losses*
Associated Press By KEN SWEET

NEW YORK (AP) ”” Stocks in the U.S. staged a late afternoon rally to close moderately higher on Thursday, ending a five-day losing streak.

The Dow Jones industrial average rose 92.93 points, or 0.5 percent, to 17,733.10. It had been down more than 100 points earlier in the day. The Standard & Poor’s 500 index rose 6.49 points, or 0.3 percent, to 2,077.99 and the Nasdaq composite rose 9.98 points, or 0.2 percent, to 4,844.91.

Investors continued to focus on next week’s vote on whether Britain would remain a member of the European Union. Overseas, Japanese stocks plunged 3 percent after the Bank of Japan decided not to increase its economic stimulus efforts.

Traders are bracing for a tight race in the British vote on June 23 on whether to leave the EU. The Bank of England, which kept its rates on hold as well on Thursday, said a vote to leave would likely result in the pound dropping sharply. It would also hurt spending and investment.

“This is going to be a big event. Up until a few weeks ago, the markets were pricing in a probability of the U.K. leaving the EU at around 20 percent. Now the chance is roughly 42 percent,” said Richard Turnill, BlackRock’s global chief investment strategist. “We are going to see significant volatility ahead of the U.K. referendum.”

As a result, investors have been shifting money into assets considered less risky in times of volatility. High-dividend utility stocks rose nearly 1 percent. Gold also rose nearly 1 percent and U.S. government bond yields remain at lows not seen in four years.

“Everyone is focused on the vote. It’s all about de-risk right now, taking chips off the table,” said Rob Bernstone, a managing director and head of trading at Credit Suisse.

Entertainment conglomerate Viacom jumped sharply in the last hour of trading, closing up $2.85, or 6.8 percent, to $45.05, after Sumner Redstone’s National Amusements said it had replaced five of Viacom’s 11 directors, including CEO Philippe Dauman. The move came as the mental competency of Redstone, Viacom’s controlling shareholder, is being challenged in court.

Meanwhile, drugmaker giant Merck rose $1.41, or 2.5 percent, to $57.50 after the company said it had positive results in a medical study for its cancer drug Keytruda, which could result in higher sales of the drug.

Japan’s central bank once again voted not to further ease monetary policy to help the country’s faltering recovery. The Bank of Japan is pumping about 80 trillion yen ($769 billion) into the country’s economy each year with purchases of Japanese government bonds and other assets.

The yen jumped nearly 2 percent against the U.S. dollar, reaching its highest level in two years. Japanese officials have said they may intervene in currency markets if the yen appreciates too much. Japan’s economy is heavily reliant on exports, which are hurt when the yen rises sharply in value against other currencies.

As a result of the Bank of Japan’s actions, the U.S. dollar fell sharply against the yen, trading at 104.31 yen compared with 105.98 the previous day. The euro fell to $1.1236 from $1.1268.

The price of benchmark U.S. crude oil sank $1.80 to $46.21 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, shed $1.78 to $47.19 a barrel in London.

Energy stocks fell along with the price of oil. Transocean, Marathon Oil, and Murphy Oil, all drilling or oil exploration companies, fell 3 to 4 percent each.

In other energy trading, heating oil fell 5 cents to $1.42 a gallon, wholesale gasoline fell 4 cents to $1.47 a gallon and natural gas fell 2 cents to $2.58 per 1,000 cubic feet.

Gold rose $10.10 to $1,298.40 an ounce, silver rose 10 cents to $17.61 an ounce and copper fell 4 cents to $2.05 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-57.94	points or ▼	-0.33%	on	Friday, June 17, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,675.16	▼	-57.94	▼	-0.33%		
	Nasdaq____	4,800.34	▼	-44.58	▼	-0.92%		
	S&P_500___	2,071.22	▼	-6.77	▼	-0.33%		
	30_Yr_Bond____	2.43	▲	0.05	▲	2.06%		

NYSE Volume	 4,824,623,500 	 	 	 	 	  		 
Nasdaq Volume	 2,469,054,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,021.09	▲	70.61	▲	1.19%		
	DAX_____	9,631.36	▲	80.89	▲	0.85%		
	CAC_40__	4,193.83	▲	40.82	▲	0.98%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,248.30	▲	16.60	▲	0.32%		
	Shanghai_Comp	2,885.10	▲	12.29	▲	0.43%		
	Taiwan_Weight	8,568.08	▲	73.94	▲	0.87%		
	Nikkei_225___	15,599.66	▲	165.52	▲	1.07%		
	Hang_Seng.__	20,169.98	▲	131.56	▲	0.66%		
	Strait_Times.__	2,763.42	▲	11.86	▲	0.43%		
	NZX_50_Index_	6,847.07	▼	-41.50	▼	-0.60%		

http://finance.yahoo.com/news/us-stocks-fall-early-trade-142850718.html#

*Stocks end week lower as British vote remains focus*
Associated Press By KEN SWEET

NEW YORK (AP) — U.S. stocks closed out a difficult week on a modestly lower note Friday, as investors continued to monitor Britain's frenzied debate on whether to leave the European Union. The debate took on a new level of concern after the killing of a member of parliament.

Technology stocks were among the biggest decliners. Apple fell as a patent dispute in China threatened to jeopardize futures sales of iPhones in the world's second-largest economy.

The Dow Jones industrial average lost 57.94 points, or 0.3 percent, to 17,675.16. The Standard & Poor's 500 index fell 6.77 points, or 0.3 percent, to 2,071.22 and the Nasdaq composite fell 44.58 points, or 0.9 percent, to 4,800.34.

Anxiety over the British referendum coming up next Thursday continued to dominate trading. Stocks have fallen six out of the past seven trading days. This week the Dow and S&P 500 each lost 1 percent while the Nasdaq gave up almost 2 percent.

The campaigning in Britain became heated this week, and took an alarming turn when a well-regarded politician in favor of staying in the EU was killed. Polls have been tight or have shown, on occasion, a slight likelihood that Britain could leave the EU. Many have predicted that could harm the British economy.

Investors interpreted the assassination as something that could sway more voters to stay in the EU. U.K. and European stocks and the British pound rose against the euro and dollar. The pound rose to $1.4375 compared with $1.4205 the day before.

"This tragic event may have dampened the 'leave' campaign's momentum somewhat," said Daniel Vernazza, analyst at UniCredit bank. He noted the movement in the pound was the most significant indicator that investors believe this would be positive for the 'remain' campaign.

In other European trading, Germany's DAX index rose 0.8 percent, France's CAC-40 rose 1 percent and the U.K.'s FTSE 100 index rose 1.2 percent.

Technology giant Apple fell $2.22, or 2.3 percent, to $95.33 after Chinese officials ruled that Apple infringed on a patent of a major competitor, which could cause iPhone sales to be suspended in the country.

Elizabeth Arden rose $4.57, or 49 percent, to $13.88 after hair and makeup company Revlon said it would buy the company for $14 a share, or $419.3 million.

Benchmark U.S. crude added $1.77 to close at $47.98 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, gained $1.98 to close at $49.17 a barrel in London.

In other energy commodities, heating oil rose 6 cents to $1.48 a gallon, wholesale gasoline rose 4 cents to $1.51 a gallon and natural gas rose 4 cents to $2.62 per 1,000 cubic feet.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 1.61 percent from 1.58 percent a day earlier. In other currency trading, the dollar fell to 104.23 yen from 104.31 yen while the euro gained slightly to $1.1275 from $1.1236.

The price of gold slipped $3.60 to $1,294.80 an ounce, silver lost 20 cents to $17.41 an ounce and copper was little changed at $2.05 a pound.

3043


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	129.71	points or ▲	0.73%	on	Monday, June 20, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,804.87	▲	129.71	▲	0.73%		
	Nasdaq____	4,837.21	▲	36.88	▲	0.77%		
	S&P_500___	2,083.25	▲	12.03	▲	0.58%		
	30_Yr_Bond____	2.47	▲	0.04	▲	1.69%		

NYSE Volume	 3,435,995,000 	 	 	 	 	  		 
Nasdaq Volume	 1,650,518,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,204.00	▲	182.91	▲	3.04%		
	DAX_____	9,962.02	▲	330.66	▲	3.43%		
	CAC_40__	4,340.76	▲	146.93	▲	3.50%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,335.60	▲	87.30	▲	1.66%		
	Shanghai_Comp	2,888.81	▲	3.70	▲	0.13%		
	Taiwan_Weight	8,625.92	▲	57.84	▲	0.68%		
	Nikkei_225___	15,965.30	▲	365.64	▲	2.34%		
	Hang_Seng.__	20,510.20	▲	340.22	▲	1.69%		
	Strait_Times.__	2,800.87	▲	37.45	▲	1.36%		
	NZX_50_Index_	6,869.54	▲	22.47	▲	0.33%		

http://finance.yahoo.com/news/us-stocks-surge-investors-grow-144116497.html

*US stocks rise as investors grow hopeful about British vote*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” U.S. stocks rose sharply on Monday as investors grew more hopeful that Britain will remain in the European Union, letting go of fears that have pulled stocks down in the last two weeks.

Asian stocks traded higher and indexes in Europe soared as the latest opinion polls and betting markets suggest it's more likely Britain will stay in the EU than leave it. Britons vote on the matter on Thursday.

The British pound rose sharply and investors dumped ultra-safe assets like U.S. government bonds, gold and utility stocks, sending those prices lower. Machinery and consumer companies jumped and energy companies rose with the price of oil.

Jim McDonald, chief investment strategist at Northern Trust, said Britain's status within the EU won't affect U.S. businesses very much, although it would hurt European banks. But he said investors are worried what will happen to the union if Britain does leave. For example, other countries might also think about backing out of the EU, doing greater damage to Europe and the global economy.

"It's not the direct effects that people are worried about, it's the indirect ones," he said.

The Dow Jones industrial average climbed 129.71 points, or 0.7 percent, to 17,804.87. The Standard & Poor's 500 index rose 12.03 points, or 0.6 percent, to 2,083.25. The Nasdaq composite gained 36.88 points, or 0.8 percent, to 4,837.21. U.S. stocks were on pace for much larger gains earlier in the day. At one time the Dow was up 271 points.

The pound rose to $1.4693 from $1.4375, a large move.

Machinery companies climbed. Aerospace company Boeing added $2.93, or 2.3 percent, to $132.75 and Honeywell advanced $1.14, or 1 percent, to $117.06. General Electric rose 23 cents to $30.83.

Consumer stocks rose as investors bet people will spend more on shopping and travel. Amazon gained $7.62, or 1.1 percent, to $714.01 while travel booking site Priceline added $32.72, or 2.5 percent, to $1,341.96 and Nike rose 65 cents, or 1.2 percent, to $54.36.

Benchmark U.S. crude oil rose $1.39, or 2.9 percent, to $49.37 a barrel in New York. Brent crude, used to price international oils, gained $1.48, or 3 percent, to $50.65 a barrel in London. After a six-day losing streak, oil prices are up about 7 percent over the past two days.

Among energy stocks, Chevron rose $1.04, or 1 percent, to $102.61. Marathon Oil jumped $1.32, or 10 percent, to $14.48 after it agreed to pay $888 million for PayRock Energy.

Bond prices dropped as investors moved money out of ultra-safe assets. The yield on the 10-year U.S. Treasury note rose to 1.67 percent from 1.61 percent late Friday. That's an encouraging sign for banks since bond yields are used to set interest rates on many kinds of loans including mortgages, and banks will be able to make more money from lending as rates increase.

Bank of America rose 14 cents, or 1 percent, to $13.54 and Wells Fargo, the nation's biggest mortgage lender, rose 33 cents to $46.93.

JD.com stock jumped after the second-largest e-commerce site in China said it was buying Wal-Mart's Yihaodian marketplace as part of a broad partnership with the company. JD.com jumped 93 cents, or 4.6 percent, to $21.06.

FedEx rose after the federal government moved to dismiss charges against the shipping company. Prosecutors had planned to charge FedEx with knowingly delivering illegal prescription drugs to dealers and addicts, but late Friday the government dropped the case. The trial was set to begin Monday. FedEx picked up $2.22, or 1.4 percent, to $164.47.

Britain's FTSE 100 leaped 3 percent and France's CAC 40 rose 3.5 percent. Germany's DAX rocketed 3.4 percent higher. Japan's benchmark Nikkei 225 index surged 2.3 percent. South Korea's Kospi climbed 1.4 percent and Hong Kong's Hang Seng added 1.7 percent.

In other energy trading, wholesale gasoline added 8 cents to $1.58 a gallon. Heating oil edged up 5 cents to $1.53 a gallon. Natural gas rose 12 cents to $2.75 per 1,000 cubic feet.

Gold slipped $2.70 to $1,292.10 an ounce. Silver rose 10 cents to $17.51 an ounce. Copper added 4 cents to $2.09 a pound.

The dollar fell to 103.96 yen from 104.23 yen and the euro rose to $1.1314 from $1.1275.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	24.86	points or ▲	0.14%	on	Tuesday, June 21, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,829.73	▲	24.86	▲	0.14%		
	Nasdaq____	4,843.76	▲	6.55	▲	0.14%		
	S&P_500___	2,088.90	▲	5.65	▲	0.27%		
	30_Yr_Bond____	2.50	▲	0.02	▲	0.97%		

NYSE Volume	 3,220,137,500 	 	 	 	 	  		 
Nasdaq Volume	 1,577,844,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,226.55	▲	22.55	▲	0.36%		
	DAX_____	10,015.54	▲	53.52	▲	0.54%		
	CAC_40__	4,367.24	▲	26.48	▲	0.61%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,353.30	▲	17.70	▲	0.33%		
	Shanghai_Comp	2,878.56	▼	-10.25	▼	-0.35%		
	Taiwan_Weight	8,684.85	▲	58.93	▲	0.68%		
	Nikkei_225___	16,169.11	▲	203.81	▲	1.28%		
	Hang_Seng.__	20,668.44	▲	158.24	▲	0.77%		
	Strait_Times.__	2,789.45	▼	-11.42	▼	-0.41%		
	NZX_50_Index_	6,839.40	▼	-30.14	▼	-0.44%		

http://finance.yahoo.com/news/us-stocks-hold-steady-ahead-british-vote-143322175--finance.html#

*US stocks rise as Yellen takes careful tone before Congress

US stock indexes close slightly higher after Fed Chair Janet Yellen sounds a cautious note on raising rates*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- U.S. stocks rose Tuesday as investors were relieved to hear Federal Reserve Chair Janet Yellen say the Fed would remain cautious in raising interest rates.

Stocks hardly budged for most of the day as investors were occupied by Yellen's Congressional appearance and the looming vote on Britain's possible withdrawal from the European Union.

Energy and phone companies made the biggest gains. For the second day in a row, stocks traded higher and bond prices fell as investors felt a bit surer that Britain will stay in the EU.

Yellen told the Senate that the Fed will proceed cautiously in raising interest rates because of the uncertainties facing the U.S. economy. She said the central bank will watch carefully to see if the recent slowdown in job growth is temporary or a sign of a bigger problem. The Fed left interest rates unchanged in June and will meet again in late July. Yellen's testimony will conclude on Wednesday.

"The market seems to have responded well to Dr. Yellen's tone of caution," said Phil Orlando, chief equity strategist for Federated Investors.

The Dow Jones industrial average picked up 24.86 points, or 0.1 percent, to 17,829.73. The Standard & Poor's 500 index rose 5.65 points, or 0.3 percent, to 2,088.90. The Nasdaq composite added 6.55 points, or 0.1 percent, to 4,843.76.

Energy companies climbed despite a dip in the price of oil, which is trading far above its lows from early this year. The price of oil rose about 7 percent over the last two days. While Orlando expects the price of oil to decline further, he said oil companies will still be able to make money if oil trades between $40 and $60 a barrel. That wasn't the case earlier this year, when it went as low as $26 a barrel.

Benchmark U.S. crude fell 52 cents, or 1.1 percent, to $48.85 a barrel in New York. Brent crude, the benchmark for international oil prices, slipped 3 cents to $50.62 a barrel in London.

Schlumberger gained 93 cents, or 1.2 percent, to $78.52 and Occidental Petroleum picked up $1.06, or 1.4 percent, to $77.16.

AT&T added 29 cents to $41.07 and Verizon gained 34 cents to $54.10 as phone companies made some of the biggest gains.

Opinion polls and betting markets indicate that Britons are more likely to vote to remain in the EU in a referendum Thursday. But polls suggest the vote will be close, and uncertainty about the outcome has weighed on global markets and contributed to a recent five-day losing streak for U.S. stocks.

On Tuesday bond prices fell as investors felt comfortable taking on riskier investments. The yield on the 10-year U.S. Treasury note edged up to 1.70 percent from 1.69 percent.

Used car dealership CarMax disclosed disappointing first-quarter results as its costs increased and sales fell short of Wall Street's estimates. Its stock gave up $2.49, or 4.9 percent, to $48.14. Auto retailer AutoNation fell $1.47, or 3 percent, to $47.89 and auto supplier BorgWarner skidded $1.38, or 4 percent, to $33.35.

Transportation and logistics company Werner Enterprises forecast disappointing second-quarter results. It said sluggish freight market conditions are hurting rates, as are the costs associated with an increase in pay for drivers. The stock lost $2.37, or 9.6 percent, to $22.31.

American Science & Engineering, which makes X-ray inspection systems, agreed to be acquired by airport security and full-body scanner manufacturer OSI Systems. OSI will pay $37 per share, or $263.9 million. American Science & Engineering's stock jumped $4.54, or 14 percent, to $36.88.

Generic drug maker Impax Laboratories tumbled after it agreed to pay $586 million for a group of generic drugs owned by Allergan and Teva Pharmaceutical Industries. Those companies had to sell the products because Allergan is buying Teva's generic drugs business. Impax lost $3.66, or 11.4 percent, to $28.31.

Data security software company Imperva climbed $5.02, or 12.4 percent, to $45.46 after Elliott Capital, the firm run by activist investor Paul Singer, disclosed a stake.

The price of gold dropped $19.60, or 1.5 percent, to $1,272.50 an ounce and silver fell 20 cents, or 1.1 percent, to $17.32 an ounce. Copper rose 2 cents to $2.12 a pound.

In other energy trading, wholesale gasoline rose 1 cent to $1.59 a gallon. Heating oil slipped 1 cent to $1.52 a gallon. Natural gas rose 2 cents to $2.77 per 1,000 cubic feet.

Germany's DAX rose 0.5 percent and France's CAC 40 advanced 0.6 percent, also adding to large gains on Monday. Britain's FTSE 100 gained 0.4 percent. Tokyo's Nikkei 225 rose 1.3 percent and Hong Kong's Hang Seng added 0.7 percent while Seoul's Kospi gained 0.1 percent.

The dollar rose to 104.76 yen from 103.96 yen. The euro fell to $1.1257 from $1.1314. The British pound edged back down to $1.4663 from $1.4693 after a big jump Monday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-48.9	points or ▼	-0.27%	on	Wednesday, June 22, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,780.83	▼	-48.90	▼	-0.27%		
	Nasdaq____	4,833.32	▼	-10.44	▼	-0.22%		
	S&P_500___	2,085.45	▼	-3.45	▼	-0.17%		
	30_Yr_Bond____	2.50	▲	0.00	▼	-0.08%		

NYSE Volume	 3,155,632,250 	 	 	 	 	  		 
Nasdaq Volume	 1,556,141,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,261.19	▲	34.64	▲	0.56%		
	DAX_____	10,071.06	▲	55.52	▲	0.55%		
	CAC_40__	4,380.03	▲	12.79	▲	0.29%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,349.50	▼	-3.80	▼	-0.07%		
	Shanghai_Comp	2,905.55	▲	26.99	▲	0.94%		
	Taiwan_Weight	8,716.25	▲	31.40	▲	0.36%		
	Nikkei_225___	16,065.72	▼	-103.39	▼	-0.64%		
	Hang_Seng.__	20,795.12	▲	126.68	▲	0.61%		
	Strait_Times.__	2,786.13	▼	-3.32	▼	-0.12%		
	NZX_50_Index_	6,781.74	▼	-57.66	▼	-0.84%		

http://finance.yahoo.com/news/us-stocks-rise-ahead-more-144210949.html#

*US stocks slip as energy and tech companies struggle*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” U.S. stocks gave up some early gains to finish lower Wednesday as energy companies sank with the price of oil and weak quarterly reports weighed down technology companies.

After two days of closing higher, stocks rose in the morning but couldn't hang on to the gains. Energy companies fell after U.S. energy stockpiles shrank by a smaller amount than analysts expected, and announcements from Adobe Systems and HP hurt tech stocks. Drug companies traded higher.

Trading was light as investors watched Federal Reserve Chair Janet Yellen's testimony before Congress and waited for Thursday's referendum on Britain's membership in the European Union.

"There's not a lot of trading out there. People are tentative," said Randy Frederick, managing director of trading and derivatives at Charles Schwab. Britons will vote Thursday, but results won't be known until after U.S. markets are closed. Frederick said stocks could tumble if Britain votes to leave the European Union, but if the "remain" campaign wins, he expected that U.S. stocks wouldn't have a huge reaction.

Polls indicate it will be a tight race, but bookies are giving the "remain" camp a higher probability of winning. International experts, including Yellen, have said that a British exit would cause volatility in global markets and uncertainty for the world economy.

The Dow Jones industrial average dipped 48.90 points, or 0.3 percent, to 17,780.83. The Standard & Poor's 500 index fell 3.45 points, or 0.2 percent, to 2,085.45. The Nasdaq composite edged down 10.44 points, or 0.2 percent, to 4,833.32.

Yellen said the Federal Reserve will be cautious in raising interest rates because of the mixed state of the economy, with consumer spending rising but investment spending weak.

The U.S. government said crude inventories fell by about 900,000 barrels last week, substantially less than experts had expected. Oil prices have tumbled in the last few years because growth in supplies has far outstripped demand. Benchmark U.S. crude fell 72 cents, or 1.4 percent, to $49.13 a barrel in New York. Brent crude, the benchmark for international oil prices, lost 74 cents, or 1.5 percent, to $49.88 a barrel in London.

Chevron gave up 95 cents to $102.29 and Marathon Oil lost 34 cents, or 2.3 percent, to $14.75.

Health care stocks climbed after Medicare spending did not exceed levels that would have required action by a cost-cutting board. While the review board doesn't have any members yet, investors have been worrying for months that the government will pressure drug companies to cut their prices.

Alliance Bernstein analyst Tim Anderson said the development is good for health care investors, but said spending may hit the target next year, giving the next president more leverage in trying to lower drug prices. Bristol-Myers Squibb rose $1.06, or 1.5 percent, to $72.31 and cancer drug maker Celgene jumped $2.37, or 2.4 percent, to $99.23.

Tesla shareholders reacted harshly after the electric car maker offered to buy solar panel maker SolarCity for up to $2.8 billion in an attempt to create a one-stop shop for clean energy. Tesla CEO Elon Musk is the chairman and largest shareholder in both companies, and SolarCity CEO Lyndon Rive is his cousin. Tesla slumped $22.95, or 10.5 percent, to $196.66. SolarCity stock added 69 cents, or 3.3 percent, to $21.88, far below the value of the offer.

Software maker Adobe Systems announced a larger-than-expected profit, but analysts were less excited about its projections for the current quarter. Adobe lost $5.71, or 5.7 percent, to $94.01.

Computer and printer maker HP forecast strong results in its fiscal third quarter but won't offer as many discounts and will carry reduced supplies. An analyst for Citi called the change a "radical shift." HP fell 72 cents, or 5.4 percent, to $12.61.

FedEx gave a cautious outlook as the package delivery company spends more money on expanding its network and acquires more aircraft to keep up with the e-commerce boom. Its stock fell $7.44, or 4.5 percent, to $156.51.

In other energy trading, wholesale gasoline was little changed at $1.59 a gallon. Heating oil fell 1 cent to $1.50 a gallon. Natural gas lost 9 cents to $2.68 per 1,000 cubic feet.

Gold fell $2.50 to $1,270 an ounce. Gold prices have fallen for four days in a row after rising for the seven days before that. Silver fell 1 cent to $17.31 an ounce. Copper rose 2 cents to $2.14 a pound.

Britain's FTSE 100 was up 0.6 percent and Germany's DAX was also 0.6 percent higher. France's CAC 40 rose 0.3 percent. The Hang Seng in Hong Kong picked up 0.6 percent and Japan's Nikkei 225 fell 0.6 percent.

The British pound rose to $1.4691 from $1.4663 a day earlier. The dollar declined to 104.47 yen from 104.76 yen. The euro rose to $1.1307 from $1.1257. Bond prices rose. The yield on the 10-year Treasury note fell to 1.69 percent from 1.71 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	230.24	points or ▲	1.29%	on	Thursday, June 23, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,011.07	▲	230.24	▲	1.29%		
	Nasdaq____	4,910.04	▲	76.72	▲	1.59%		
	S&P_500___	2,113.32	▲	27.87	▲	1.34%		
	30_Yr_Bond____	2.56	▲	0.06	▲	2.44%		

NYSE Volume	 3,262,176,500 	 	 	 	 	  		 
Nasdaq Volume	 1,605,741,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,338.10	▲	76.91	▲	1.23%		
	DAX_____	10,257.03	▲	185.97	▲	1.85%		
	CAC_40__	4,465.90	▲	85.87	▲	1.96%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,358.60	▲	9.10	▲	0.17%		
	Shanghai_Comp	2,891.96	▼	-13.59	▼	-0.47%		
	Taiwan_Weight	8,676.68	▼	-39.57	▼	-0.45%		
	Nikkei_225___	16,238.35	▲	172.63	▲	1.07%		
	Hang_Seng.__	20,868.34	▲	73.22	▲	0.35%		
	Strait_Times.__	2,793.85	▲	7.72	▲	0.28%		
	NZX_50_Index_	6,821.35	▲	39.61	▲	0.58%		

http://finance.yahoo.com/news/us-stocks-rise-britons-polls-141957411.html

*US stocks jump as Britons go to polls on EU membership*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” U.S. stocks made their biggest gain in a month Thursday as investors grew more optimistic that Britons will vote to stay in the European Union. Investors bought stocks and sold bonds, sending bond yields and banks higher.

On the last trading day before results from the British referendum, stocks continued to rise as investors grew more confident Britain won't leave the union. Bank stocks did the best, while materials companies also rose. The price of oil topped $50 a barrel. Utility companies, which are generally seen as a safe investment, lagged the market as investors took a few more risks.

U.S. stocks have advanced about 2 percent this week. Before that, the market slumped as investors worried that a "leave" vote would disrupt the economies of Britain and Europe. Throughout this year, the market has bobbed up and down as investors traded on political and central bank news, like the British referendum and comments from the Federal Reserve.

J.J. Kinahan, chief strategist at TD Ameritrade, said that's because the global economy is sluggish. Corporate profits and revenues have also been uninspiring.

"What it really shows is just a lack of growth," he said. "That makes it very difficult to commit capital and I think that's a pattern you're going to continue to see."

The Dow Jones industrial average jumped 230.24 points, or 1.3 percent, to 18,011.07. The Standard & Poor's 500 index rose 27.87 points, also 1.3 percent, to 2,113.32. The Nasdaq composite climbed 76.72 points, or 1.6 percent, to 4,910.04.

European stock indexes also advanced. France's CAC 40 rose 2 percent and Germany's DAX gained 1.8 percent. Britain's FTSE 100 rose 1.2 percent.

Bond prices declined, sending the yield on the 10-year Treasury note up to 1.75 percent from 1.69 percent a day earlier.

Higher bond yields mean higher interest rates, which allow banks to make money on lending. Citigroup rose $1.78, or 4.2 percent, to $44.46 and Bank of America gained 43 cents, or 3.2 percent, to $14.04.

The British pound rose to $1.4808 from $1.4691, its highest level of the year. The pound has gotten stronger as investors grew more confident Britain will stay in the EU. The dollar rose to 105.78 yen from 104.47 yen. The euro rose to $1.1351 from $1.1307.

U.S. crude rose 98 cents, or 2 percent, to $50.11 a barrel in New York. Brent crude, the benchmark for international oil prices, rose $1.03, or 2.1 percent, to $50.91 a barrel in London. Among energy stocks, Chevron picked up $2.15, or 2.1 percent, to $104.44 and ConocoPhillips rose $1.64, or 3.7 percent, to $45.63.

Fertilizer maker Mosaic climbed $1.26, or 4.7 percent, to $28 on reports that the large potash companies of Russia and Belarus might start working together, something that haven't done since 2013. That might bolster prices of the fertilizer, which have slumped in recent years. Other mining and chemicals companies also surged. Paint and coatings maker PPG Industries rose $3.41, or 3.2 percent, to $111.22 and gold and copper miner Freeport-McMoran added 27 cents, or 2.3 percent, to $11.77.

Software company Twilio surged after its initial public offering raised more money than analysts expected. The company makes software that helps companies communicate with their customers and employees through methods like text messages and phone notifications. Its IPO priced at $150 million, and the stock soared $13.79, or 91.9 percent, to $28.79.

Bookseller Barnes & Noble reported stronger-than-expected sales and its stock jumped 82 cents, or 7.9 percent, to $11.26.

Macy's, the largest U.S. department store, said CEO Terry Lundgren will step down early next year after about 13 years in charge. He will remain chairman of the company, and president Jeff Gennette will become CEO. Macy's rose 57 cents, or 1.7 percent, to $33.38.

Software maker Red Hat fell $1.36, or 1.7 percent, to $78.39 after it posted mixed quarterly results and a disappointing outlook. The company also said it will buy software maker 3scale, but didn't disclose terms.

The Labor Department said applications for unemployment benefits fell last week, more evidence employers are keeping workers and may be hiring at a faster pace. About 2.1 million Americans are receiving those benefits, or 4.6 percent fewer than a year ago.

The price of gold fell $6.90 to $1,263.10 an ounce, and it's down almost 3 percent over the last five days. Silver rose 4 cents to $17.35 an ounce. Copper added 3 cents to $2.16 a pound.

In other energy trading, wholesale gasoline rose 2 cents to $1.60 a gallon. Heating oil gained 2 cents to $1.52 a gallon. Natural gas added 2 cents to $2.70 per 1,000 cubic feet.

In Asia, Japan's benchmark Nikkei 225 gained 1.1 percent, Hong Kong's Hang Seng inched up 0.4 percent and South Korea's Kospi fell 0.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-610.32	points or ▼	-3.39%	on	Friday, June 24, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,400.75	▼	-610.32	▼	-3.39%		
	Nasdaq____	4,707.98	▼	-202.06	▼	-4.12%		
	S&P_500___	2,037.41	▼	-75.91	▼	-3.59%		
	30_Yr_Bond____	2.43	▼	-0.13	▼	-4.93%		

NYSE Volume	 7,427,657,500 	 	 	 	 	  		 
Nasdaq Volume	 3,925,427,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,138.69	▼	-199.41	▼	-3.15%		
	DAX_____	9,557.16	▼	-699.87	▼	-6.82%		
	CAC_40__	4,106.73	▼	-359.17	▼	-8.04%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,192.80	▼	-165.80	▼	-3.09%		
	Shanghai_Comp	2,854.29	▼	-37.67	▼	-1.30%		
	Taiwan_Weight	8,476.99	▼	-199.69	▼	-2.30%		
	Nikkei_225___	14,952.02	▼	-1,286.33	▼	-7.92%		
	Hang_Seng.__	20,259.13	▼	-609.21	▼	-2.92%		
	Strait_Times.__	2,735.39	▼	-58.46	▼	-2.09%		
	NZX_50_Index_	6,667.78	▼	-153.57	▼	-2.25%		

http://finance.yahoo.com/news/global-stocks-tumble-britain-votes-142626461.html#

*Global stocks tumble after Britain votes to leave the EU*
Associated Press By MARLEY JAY

NEW YORK (AP) — Stocks plunged in the U.S. and worldwide Friday after Britain voted to leave the European Union. The result stunned investors, who reacted by rushing to the safety of gold and U.S. government bonds as they wondered what will come next for Britain, Europe and the global economy.

U.S. stocks gave up all their gains from earlier in the year. The Dow Jones industrial average tumbled 611.21 points, or 3.4 percent, to 17,399.86. The Standard & Poor's 500 dropped 76.02 points, or 3.6 percent, to 2,037.70. Both indexes took their biggest loss since August. The Nasdaq composite suffered its biggest loss since mid-2011, down 202.06 points, or 4.1 percent, to 4,707.98. Indexes in Europe and Asia took even larger losses.

The British vote brought a massive dose of uncertainty to financial markets, something investors loathe. Traders responded by dumping riskier assets that appeared to have the most to lose from disruptions in financial flows and trade: banks, technology companies and makers of basic materials. More shares were traded than on any day since August 2011, when Standard & Poor's downgraded the credit rating of the U.S. government during a crisis over the budget and the country's debt ceiling.

Britons voted to leave the EU over concerns including immigration and regulation. It's far from clear what that will mean for international trade or for Europe, as the EU, which was formed in the decades following World War II, has never before lost a member state.

"This vote is a step away from free trade," said Bob Doll, chief equity strategist Nuveen Asset Management. "When you add to it the specter of the last couple of years of terrorism it causes the average individual ... to be more nationalistic, more populist, more protectionist."

Bond prices surged and yields fell. The yield on the 10-year U.S. Treasury note dropped to 1.56 percent from 1.75 percent on Thursday, a large move.

Banks took the largest losses by far. Citigroup plummeted $4.16, or 9.4 percent, to $40.30 and JPMorgan Chase fell $4.45, or 6.9 percent, to $59.60. They have the most to lose in Britain's departure from the EU because they do a lot of cross-border business in Europe based from their offices in London. They also become less profitable when bond yields fall, since that lowers interest rates on mortgages and many other kinds of loans.

Microsoft fell $2.08, or 4 percent, to $49.83 and IBM gave up $8.76, or 5.6 percent, to $146.59. DuPont gave up $3.21, or 4.6 percent, to $66 and LyondelBassel Industries lost $4.14, or 5.2 percent, to $74.91.

The pound fell dramatically, to $1.3638. At one point the British currency hit a 31-year low.

Oil prices sank. Benchmark U.S. crude declined $2.47, or 4.9 percent, to close at $47.64 a barrel in New York. Brent crude, the international benchmark, fell $2.50, or 4.9 percent, to $48.41 a barrel in London.

In addition to bonds, other safety assets also soared. Gold jumped $59.30, or 4.7 percent, to $1,322.40. That's its highest price since July 2014. Silver rose 44 cents, or 2.5 percent, to $17.79 an ounce, its highest in more than a year. Gold producer Newmont Mining rose the most in the S&P 500 index. It climbed $1.80, or 5.1 percent, to $37.19 and set a three-year high.

High-dividend utility companies made tiny gains. Consolidated Edison rose $1.55, or 2 percent, to $78.41 and Duke Energy added 38 cents to $82.43.

The vote only begins the process of Britain's departure from the EU, and it also begins years of negotiations over Britain's trade, business and political links. Observers wonder if other nations will follow in Britain's footsteps by leaving the EU.

"This is a negative in economic terms for the UK," said David Kelly, chief global strategist at JPMorgan Asset Management. "The EU will be very tough negotiators with them."

Investors had sent stocks higher this week as they gradually grew more confident, based on polls and the changing odds in the betting market, that Britain would stay in the E.U. They sent the pound to its highest price of the year and sold bonds, pushing yields higher. Those gains were rapidly undone Friday.

Britain's FTSE 100 dropped 3.1 percent. At one point it was 8 percent lower. The German DAX index sank 6.8 percent and France's CAC 40 index tumbled 8 percent.

Japan's Nikkei 225 finished a wild day down 7.9 percent, its biggest loss since the global financial crisis in 2008. South Korea's Kospi sank 3.1 percent, its worst day in four years. Hong Kong's Hang Seng index tumbled 4.4 percent and stocks in Shanghai, Taiwan, Sydney, Mumbai and Southeast Asian countries were sharply lower.

In other energy trading, wholesale gasoline sank 8 cents to $1.53 a gallon. Heating oil fell 7 cents to $1.46 a gallon. Natural gas lost 4 cents to $2.66 per 1,000 cubic feet.

In other currency trading, the dollar fell to 102.24 yen from 104.47 yen while the euro weakened to $1.1121 from $1.1351.

3641


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-260.51	points or ▼	-1.50%	on	Monday, June 27, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,140.24	▼	-260.51	▼	-1.50%		
	Nasdaq____	4,594.44	▼	-113.54	▼	-2.41%		
	S&P_500___	2,000.54	▼	-36.87	▼	-1.81%		
	30_Yr_Bond____	2.28	▼	-0.15	▼	-6.21%		

NYSE Volume	 5,429,822,000 	 	 	 	 	  		 
Nasdaq Volume	 2,395,420,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	5,982.20	▼	-156.49	▼	-2.55%		
	DAX_____	9,268.66	▼	-288.50	▼	-3.02%		
	CAC_40__	3,984.72	▼	-122.01	▼	-2.97%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,216.20	▲	23.40	▲	0.45%		
	Shanghai_Comp	2,895.70	▲	41.42	▲	1.45%		
	Taiwan_Weight	8,458.87	▼	-18.12	▼	-0.21%		
	Nikkei_225___	15,309.21	▲	357.19	▲	2.39%		
	Hang_Seng.__	20,227.30	▼	-31.83	▼	-0.16%		
	Strait_Times.__	2,729.85	▼	-5.54	▼	-0.20%		
	NZX_50_Index_	6,686.93	▲	19.15	▲	0.29%		

http://finance.yahoo.com/news/stocks-pound-fall-again-due-uk-vote-uncertainty-141856908.html#

*Stocks, pound fall again due to UK vote uncertainty*
Associated Press By Alex Veiga, AP Business Writer

Investor jitters over the economic fallout of Britain's vote to leave the European Union sent U.S. stocks sharply lower Monday.

The latest slump followed another rough day for European markets and a further weakening of the euro and British pound, which last week plunged to its lowest level since 1985.

Ratings agency Standard & Poor's added to the market's anxiety Monday by stripping the UK of its top-shelf credit rating. The firm cited uncertainty over the UK's vote to leave the EU.

Materials companies led the slide on Wall Street. Losses also piled up for financial and technology stocks. Shares in energy companies fell as the price of U.S. crude oil declined.

"When you get major news like this that is unexpected, as the 'Brexit' vote was, it often takes about five trading days to kind of work through the system," said JJ Kinahan, chief strategist at TD Ameritrade.

The Dow Jones industrial average lost 260.51 points, or 1.5 percent, to 17,140.24. The average had been down more than 337 points earlier in the day.

The S&P 500 index slid 36.87 points, or 1.8 percent, to 2,000.54. The Nasdaq composite fell 113.54 points, or 2.4 percent, to 4,594.44.

The three major indexes are down for the year.

Britons voted last Thursday to leave the EU over concerns including immigration and regulation. That move created a wave of uncertainty for financial markets, triggering a sell-off on Friday that resulted in the biggest losses for the Dow and S&P 500 since August, while the Nasdaq notched its worst day since August 2011.

Despite the losses on Friday and Monday, the market is still well above the lows it reached in early February, when the S&P 500 closed as low as 1,829.

"This is a bit of a spillover from Friday," said Eric Wiegand, senior portfolio manager for U.S. Bank's Private Client Reserve. "While it hasn't been a very pleasant two-day period, we're largely erasing some of the rallies we had in the previous five-plus sessions."

Eight of the 10 sectors in the S&P 500 index posted losses Monday, with materials companies shedding the most, 3.4 percent.

Utilities stocks, traditionally seen as a more attractive investment at times of heightened market volatility, notched the biggest gain, 1.3 percent.

Western Digital declined the most among companies in the S&P 500 index. The maker of data storage products shed $5.66, or 11.8 percent, to $42.18. Rival Seagate Technology slid $2.29, or 9.9 percent, to $20.87.

Banks and other financial companies slumped as investors speculated that the global economic uncertainty caused by Britain's decision to leave the EU will prompt the Federal Reserve to hold off on raising its benchmark interest rate. Banks benefit from higher interest rates, which translate into more revenue from loans and credit cards.

"A lot of the expectations about what these financial stocks would be worth have changed," Kinahan said. "This sort of takes Fed rate raises off the table for a while, maybe through the end of 2016."

Charles Schwab fell $2.10, or 8 percent, to $24.05, while JPMorgan Chase shed $1.99, or 3.3 percent, to $57.61. State Street gave up $4.20, or 7.6 percent, to $50.79.

European stock markets added to their steep losses from Friday. Britain's FTSE 100 fell 2.5 percent, while Germany's DAX and France's CAC 40 each gave up 3 percent.

Earlier, Tokyo's Nikkei 225 rose 2.4 percent, making up some of the ground it lost on Friday, when it closed nearly 8 percent lower. Hong Kong's Hang Seng shed 0.2 percent. Seoul's Kospi rose 0.1 percent.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.45 percent from 1.56 late Friday.

In currency markets, the British pound slid to $1.3176 from $1.3638 late Friday, despite the British Treasury's reassurances that the economy was strong enough to withstand the uncertainty. The euro weakened to $1.1005 from $1.1121, while the Japanese yen fell to 101.97 from 102.24.

Benchmark U.S. crude slid $1.31, or 2.7 percent, to $46.33 a barrel in New York. Brent crude, used to price international oils, fell $1.25, or 2.6 percent, to $47.16 a barrel in London.

Wholesale gasoline dropped 5 cents to $1.48 a gallon. Heating oil fell 3 cents to $1.43 a gallon. Natural gas rose 5 cents to $2.72 per 1,000 cubic feet.

Gold edged up $2.30 to $1,324.70 an ounce, silver slipped 5 cents to $17.79 an ounce and copper fell 1 cent to $2.13 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	269.48	points or ▲	1.57%	on	Tuesday, June 28, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,409.72	▲	269.48	▲	1.57%		
	Nasdaq____	4,691.87	▲	97.42	▲	2.12%		
	S&P_500___	2,036.09	▲	35.55	▲	1.78%		
	30_Yr_Bond____	2.28	▲	0.00	▲	0.18%		

NYSE Volume	 4,341,268,500 	 	 	 	 	  		 
Nasdaq Volume	 1,881,089,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,140.39	▲	158.19	▲	2.64%		
	DAX_____	9,447.28	▲	178.62	▲	1.93%		
	CAC_40__	4,088.85	▲	104.13	▲	2.61%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,179.70	▲	36.50	▲	0.70%		
	Shanghai_Comp	2,912.56	▲	16.85	▲	0.58%		
	Taiwan_Weight	8,505.51	▲	46.64	▲	0.55%		
	Nikkei_225___	15,323.14	▲	13.93	▲	0.09%		
	Hang_Seng.__	20,172.46	▼	-54.84	▼	-0.27%		
	Strait_Times.__	2,756.53	▲	26.68	▲	0.98%		
	NZX_50_Index_	6,716.58	▲	29.65	▲	0.44%		

http://finance.yahoo.com/news/us-stocks-rebound-anxiety-over-143425433.html

*US stocks rebound as anxiety over British vote eases

U.S. stock indexes mount a broad comeback as investors set aside their anxiety over Britain's vote to leave the European Union and snap up shares following a two-day rout*

Associated Press By Alex Veiga, AP Business Writer

U.S. stock indexes mounted a broad comeback Tuesday as investors set aside their anxiety over Britain's vote to leave the European Union and snapped up shares following a two-day rout.

Encouraging data on the U.S. economy and housing market helped put traders in a buying mood. The broad rally followed even bigger gains in Europe, which also bounced back from the steep losses triggered by Britain's "leave" vote last Thursday.

Oil and gas companies led the rally as energy prices rose. Banks and other financial companies, which took the heaviest losses in the sell-off, also surged. Health care, consumer and technology stocks also notched gains. Bond prices fell, sending yields higher.

"We were due for a bounce heading into the morning; we had a couple of tough days there," said Sean Lynch, co-head of global equity strategy at Wells Fargo Investment Institute. "Investors are stepping up and seeing some areas that may have been oversold the past couple of days and redeploying some of their cash."

The Dow Jones industrial average gained 269.48 points, or 1.6 percent, to 17,409.72. The Standard & Poor's 500 index rose 35.55 points, or 1.8 percent, to 2,036.09. The Nasdaq composite added 97.42 points, or 2.1 percent, to 4,691.87.

Despite the rebound, the three indexes remain on track to end June in the red. They're also down for the year.

European benchmarks had an even better day than U.S. indexes. Britain's FTSE 100 and France's CAC 40 each gained 2.6 percent. Germany's DAX added 1.9 percent.

The euro and the British pound recovered somewhat, though the pound remained near the 30-year lows it plunged to immediately following the British "leave" vote.

Uncertainty and anxiety over the economic fallout from Britain's vote to leave the European Union had roiled global financial markets since Friday and prompted ratings agencies to slash their top-shelf credit rating for the U.K.

Investors appeared to shake off their some of their jitters Tuesday. British Prime Minister David Cameron signaled he might not trigger a clause setting in motion the U.K.'s exit from the EU before October.

In the U.S., investors got a batch of encouraging economic data to consider.

The Commerce Department raised its estimate of U.S. economic growth in the first three months of the year. Separately, a key gauge of home values showed U.S. home prices climbed in April, hitting record highs in several cities. In addition, the Conference Board said its measure of U.S. consumer confidence increased this month to the highest level since October.

"Obviously, the market isn't very receptive to uncertainty, but in some ways this uncertainty is providing the possibility and the consideration that what happened in the U.K. isn't necessarily reflective of, or an indicator of, a recession, especially here in the U.S. as well as globally," said W. Janet Dougherty, a global investment specialist at J.P. Morgan Private Bank.

Pharmaceutical company Endo International surged 18.3 percent, the biggest gainer in the S&P 500 index. The stock added $2.50 to $16.19.

Xencor vaulted 32.1 percent after the drugmaker announced a partnership with Novartis to develop two cancer drugs. The stock rose $4.02 to $16.56.

Several energy companies also notched gains.

Southwestern Energy climbed $1.47, or 11.8 percent, to $13.89, while Devon Energy added $2.24, or 6.6 percent, to $35.99. Cabot Oil & Gas gained $1.93, or 8 percent, to $25.99.

Earlier in Asia, markets bounced back from early losses as leaders signaled they were ready to step in with support policies. Japan's benchmark Nikkei 225 index climbed 0.1 percent, while South Korea's Kospi added 0.5 percent.

Hong Kong's Hang Seng Index was a laggard, losing 0.3 percent. It was dragged down by companies with high exposure to Europe, such as billionaire tycoon's Li Ka-shing's CK Hutchison Holdings, which has British retail, ports and telecom investments and fell 1.7 percent.

In currency markets, the pound recovered to $1.3343 from $1.3176 on Monday. The yen eased slightly against the dollar, though it was still hovering near its strongest level in two years. The dollar rose to 102.79 yen from 101.97 yen. The euro strengthened to $1.1049 from $1.1005.

Benchmark U.S. crude rose $1.52, or 3.3 percent, to close at $47.85 a barrel in New York. Brent crude, used to price international oils, gained $1.42, or 3 percent, to close at $48.58 a barrel in London.

In other energy trading, wholesale gasoline rose 3 cents to $1.51 a gallon. Heating oil added 4 cents to $1.47 a gallon. Natural gas gained 20 cents, or 7.4 percent, to $2.92 per 1,000 cubic feet.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.46 percent from 1.44 late Monday.

In metals trading, gold fell $6.80 to $1,317.90 an ounce, silver rose 10 cents to $17.89 an ounce and copper added 5 cents to $2.18 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	284.96	points or ▲	1.64%	on	Wednesday, June 29, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,694.68	▲	284.96	▲	1.64%		
	Nasdaq____	4,779.25	▲	87.38	▲	1.86%		
	S&P_500___	2,070.77	▲	34.68	▲	1.70%		
	30_Yr_Bond____	2.28	▲	0.00	▲	0.22%		

NYSE Volume	 4,229,033,000 	 	 	 	 	  		 
Nasdaq Volume	 1,965,553,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,360.06	▲	219.67	▲	3.58%		
	DAX_____	9,612.27	▲	164.99	▲	1.75%		
	CAC_40__	4,195.32	▲	106.47	▲	2.60%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,221.00	▲	41.30	▲	0.80%		
	Shanghai_Comp	2,931.59	▲	19.03	▲	0.65%		
	Taiwan_Weight	8,586.56	▲	81.05	▲	0.95%		
	Nikkei_225___	15,566.83	▲	243.69	▲	1.59%		
	Hang_Seng.__	20,436.12	▲	263.66	▲	1.31%		
	Strait_Times.__	2,792.73	▲	36.20	▲	1.31%		
	NZX_50_Index_	6,804.21	▲	87.63	▲	1.30%		


http://finance.yahoo.com/news/us-stocks-rise-following-strong-gains-global-markets-143101187.html

*US stocks claw back half of ground lost post-British vote*
Associated Press By ALEX VEIGA

Banks and other financial companies led another broad surge in U.S. stocks Wednesday, turning the Dow Jones industrial average and the Standard & Poor's 500 index slightly positive for the year.

It was the second rally in two days for the stock market, which had been rattled since Friday by investor concerns over Britain's vote to leave the European Union.

Those worries eased Wednesday as traders shifted money back into stocks. The gains over Tuesday and Wednesday erased more than half of the losses U.S. markets suffered in the two-day slide that kicked off on Friday.

Britain's stock market has recouped all its losses in the same stretch, but other major markets in Europe and Asia have yet to bounce back fully. Markets in France, Germany, Japan and Hong Kong have gotten back about half the ground they lost; Brazil's has recouped about three-quarters.

"The market has moved from a shock," said Erik Davidson, chief investment officer for Wells Fargo Private Bank. "The worries around 'Brexit' are now moving from short-term worries to long-term worries, and that's why we're seeing this dramatic rebound in the market."

The Dow gained 284.96 points, or 1.6 percent, to 17,694.68. The S&P 500 index rose 34.68 points, or 1.7 percent, to 2,070. The Nasdaq composite added 87.38 points, or 1.9 percent, to 4,779.25.

European stock indexes posted gains that eclipsed Wall Street's for the second day in a row. The British pound edged up against the dollar following its plunge to 31-year lows after the British vote last week.

Britain's benchmark stock index, the FTSE 100, gained 3.6 percent, while Germany's DAX rose 1.7 percent. France's CAC 40 added 2.6 percent.

On Wall Street, financial companies, which had taken the brunt of the selling after the British "leave" vote, rose 2.3 percent. The sector is still down 5.6 percent for the year.

Citigroup jumped 4.2 percent, adding $1.68 to $42.12, while American Express rose $2.02, or 3.5 percent, to $59.63. JPMorgan Chase gained $1.68, or 2.8 percent, to $61.20.

Several oil and gas production and transportation companies also notched gains as the price of crude oil rose sharply. Murphy Oil climbed $1.93, or 6.4 percent, to $32.02. Kinder Morgan rose 82 cents, or 4.6 percent, to $18.53.

The market also got a boost from new data on consumer spending and the latest batch of company deal news.

The Commerce Department said that consumer spending increased 0.4 percent in May on top of a 1.1 percent surge in April. The data underscore that consumer spending, which accounts for about 70 percent of U.S. economic activity, picked up in the spring after getting off to a slow start in 2016.

The Canadian Imperial Bank of Commerce agreed to buy bank holding company PrivateBancorp for $47 per share in cash and stock, or $3.73 billion. News of the deal sent PrivateBancorp shares up 23.3 percent. The stock added $8.36 to $44.29.

Tesaro more than doubled after the drug developer said its targeted pill for recurrent ovarian cancer prevented the disease from worsening for many months after chemotherapy ended. There's no approved maintenance treatment to keep ovarian cancer at bay after chemotherapy. The stock gained $40.19 to $77.40.

Global financial markets were rattled last Friday by the British "leave" vote, which many investors did not seem to anticipate. Stocks and oil fell, as did the pound, while bonds and gold rose thanks to their perceived status as safe havens. Ratings agency S&P slashed its top-shelf credit rating for the U.K.

But the two-day slump broke on Tuesday, as investors appeared to set aside their anxiety over Britain's vote.

In another sign that investors' worries are easing, the VIX, a gauge of expectation of future U.S. stock volatility, fell 11.3 percent Wednesday to 16.6. It had hit 25.8 on Friday.

"The VIX is literally where it was two weeks ago," said Tom Siomades, head of Hartford Funds' Investment Consulting Group. "(Investors) dumped everything on Friday, and when they came back, they realized things aren't as bad and it's going to take a long time to unwind this thing."

Earlier, stock markets in Asia closed broadly.

Japan's Nikkei 225 rose 1.6 percent and South Korea's Kospi gained 1 percent. Hong Kong's Hang Seng index added 1.3 percent, while Australia's S&P/ASX 200 rose 0.8 percent. Stocks in Taiwan, Singapore and Indonesia also were higher.

In currency markets, the British pound recovered some of its losses this week but remained near its 31-year low. It rose to $1.3431 from $1.3343 on Tuesday.

The yen, which strengthened sharply after the British referendum, bounced back after an early slide. The dollar fell to 102.56 yen from 102.79 yen. The euro rose to $1.1106 from $1.1049.

In energy futures trading, benchmark U.S. crude surged $2.03, or 4.2 percent, to close at $49.88 a barrel in New York. Brent crude, used to price international oils, also rose $2.03, or 4.2 percent, to close at $50.61 a barrel in London.

Among metals, gold rose $9 to $1,326.90 an ounce, silver gained 52 cents to $18.41 an ounce and copper added 1 cent to $2.19 a pound.

Bond prices fell. The yield on the 10-year Treasury note jumped to 1.52 percent from 1.47 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	235.31	points or ▲	1.33%	on	Thursday, June 30, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,929.99	▲	235.31	▲	1.33%		
	Nasdaq____	4,842.67	▲	63.43	▲	1.33%		
	S&P_500___	2,098.86	▲	28.09	▲	1.36%		
	30_Yr_Bond____	2.31	▲	0.03	▲	1.18%		

NYSE Volume	 4,612,765,500 	 	 	 	 	  		 
Nasdaq Volume	 2,030,439,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,504.33	▲	144.27	▲	2.27%		
	DAX_____	9,680.09	▲	67.82	▲	0.71%		
	CAC_40__	4,237.48	▲	42.16	▲	1.00%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,310.40	▲	89.40	▲	1.71%		
	Shanghai_Comp	2,929.61	▼	-1.99	▼	-0.07%		
	Taiwan_Weight	8,666.58	▲	80.02	▲	0.93%		
	Nikkei_225___	15,575.92	▲	9.09	▲	0.06%		
	Hang_Seng.__	20,794.37	▲	358.25	▲	1.75%		
	Strait_Times.__	2,840.93	▲	48.20	▲	1.73%		
	NZX_50_Index_	6,897.53	▲	93.32	▲	1.37%		

http://finance.yahoo.com/news/us-stock-indexes-drift-higher-143022689.html#

*US stock indexes extend rally to a 3rd day*
Associated Press By ALEX VEIGA

Investors remained in a buying mood Thursday, driving U.S. stocks broadly higher for the third day in a row.

The latest gains added to the market's rebound from the brief, but steep slump that followed Britain's vote to leave the European Union a week ago.

While the rally suggests that traders' anxiety over Britain's departure from the EU have eased, a surge in U.S. bond prices Thursday signaled many investors remain cautious about the possible long-term implications. As bond prices rose, the yield on the 10-year Treasury note fell to 1.47 percent.

Consumer staples companies posted the biggest gains. Utilities stocks, a traditional safe-haven for investors seeking less risk, were a close second. Oil prices fell.

"The equity market has realized that the 'Brexit' in a vacuum by itself is not a reason to wholesale abandon equities," said David Schiegoleit, managing director of investments for the private client reserve at U.S. Bank. "But there is still the fear that it becomes contagious with other economies in Europe."

The Dow Jones industrial average gained 235.31 points, or 1.3 percent, to 17,929.99. The Standard & Poor's 500 index rose 28.09 points, or 1.4 percent, to 2,098.86. The Nasdaq composite added 63.43 points, or 1.3 percent, to 4,842.67.

The stock market closed out the second quarter with modest gains.

The S&P 500 index added 1.9 percent in the April-June period. Much of the biggest gains came from energy stocks, which benefited from a rebound in oil prices, and utilities and telecom companies, which became more attractive as bond yields declined. The index is up 2.7 percent so far this year.

The Dow, which gained 1.4 percent during the second quarter, is up 2.9 percent this year. The Nasdaq lost 0.6 percent in the second quarter and is down 3.3 percent through the first half of 2016.

Trading got off to a tepid start on Thursday, but got going into rally mode by midmorning, suggesting a resolve among investors to put their worries about Britain's eventual EU exit in their rearview mirror.

Markets in Europe also extended their rebound from the two-day slump that broke on Tuesday. Britain's FTSE 100 rose 2.3 percent. The U.K.'s stock market has recouped its losses, though that is largely thanks to a drop in the British currency, which favors earnings for big companies overseas.

Germany's DAX added 0.7 percent. France's CAC 40 rose 1 percent.

The simultaneous rise in prices for stocks and U.S. bonds on Thursday was unusual and suggests nervous investors overseas are seeking the relative safety of bonds even as other traders look to ride the U.S. stock market rally further, Schiegoleit said.

"You have not only nerves pushing foreign money into U.S. Treasurys, you also have negative yields in several places around the world, which is forcing capital into the U.S. bond market," he said.

Another factor: Over 60 percent of the stocks in the S&P 500 have a dividend yield that's higher than the 10-year U.S. Treasury. That gives even income investors a reason to buy stocks because bonds yields have fallen.

The latest batch of company deal news also helped lift U.S. stocks Thursday.

Cable channel Starz climbed 6 percent after agreeing to be acquired by Lions Gate Entertainment, which owns the "Orange Is The New Black" Netflix series and the "Hunger Games" movies. Starz jumped $1.67 to $29.92. Lions Gate shed 71 cents, or 3.4 percent, to $20.23.

Hershey surged 16.8 percent following a published report that snack company Mondelez has made an overture to acquire the candy maker. Hershey said it rejected the offer. Hershey added $16.35 to $113.49. Mondelez gained $2.54, or 6 percent, to $45.51.

Care.com shares vaulted 37.9 percent after Google Capital invested $46 million in the online family care management service. Care.com added $3.21 to $11.68.

Earlier in Asia, Japan's benchmark Nikkei 225 edged up 0.1 percent, while South Korea's Kospi rose 0.7 percent. Australia's S&P/ASX 200 added 1.8 percent. Hong Kong's Hang Seng index rose 1.5.

In energy futures trading, benchmark U.S. crude fell $1.55, or 3.1 percent, to close at $48.33 a barrel in New York. Brent crude, used to price international oils, slid 93 cents, or 1.8 percent, to close at $49.68 a barrel in London. Wholesale gasoline fell 2 cents to $1.50 a gallon, while heating oil shed 5 cents to $1.48 a gallon. Natural gas rose 6 cents to $2.92 per 1,000 cubic feet.

In metals trading, gold lost $6.30 to $1,320.60 an ounce, silver gained 22 cents to $18.62 an ounce and copper added 1 cent to $2.20 a pound.

The pound slipped to $1.3244 from $1.3431, still down sharply from the pre-vote level of $1.50.

The Japanese yen, seen as a safe haven, strengthened sharply after the British referendum, but has become less volatile since then. The dollar was trading at 103.27 yen, up from 102.56 yen on Wednesday. The euro fell to $1.1077 from $1.1106.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	19.38	points or ▲	0.11%	on	Friday, July 1, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,949.37	▲	19.38	▲	0.11%		
	Nasdaq____	4,862.57	▲	19.89	▲	0.41%		
	S&P_500___	2,102.95	▲	4.09	▲	0.19%		
	30_Yr_Bond____	2.24	▼	-0.07	▼	-2.86%		

NYSE Volume	 3,435,420,250 	 	 	 	 	  		 
Nasdaq Volume	 1,577,330,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,577.83	▲	73.50	▲	1.13%		
	DAX_____	9,776.12	▲	96.03	▲	0.99%		
	CAC_40__	4,273.96	▲	36.48	▲	0.86%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,327.00	▲	16.60	▲	0.31%		
	Shanghai_Comp	2,932.48	▲	2.87	▲	0.10%		
	Taiwan_Weight	8,738.24	▲	71.66	▲	0.83%		
	Nikkei_225___	15,682.48	▲	106.56	▲	0.68%		
	Hang_Seng.__	20,794.37	▲	358.25	▲	1.75%		
	Strait_Times.__	2,846.37	▲	5.44	▲	0.19%		
	NZX_50_Index_	6,926.23	▲	28.70	▲	0.42%		

http://finance.yahoo.com/news/us-stock-indexes-edge-higher-142154585.html

*US stock indexes end strong week with tiny gains

U.S. stock indexes marked their fourth consecutive gain, an upbeat finish for a week that got off to a turbulent start as investors fretted about Britain's vote to leave the European Union*
Associated Press By Alex Veiga, AP Business Writer

U.S. stock indexes marked their fourth consecutive gain Friday, an upbeat finish for a week that got off to a turbulent start as investors fretted about Britain's vote to leave the European Union.

In the days since the two-day market tumble ended on Tuesday, the U.S. stock market came close to regaining all the ground lost since the vote last week. It ended the week up 3 percent, its biggest weekly gain since November.

The main stock indexes in Europe posted even bigger gains this week, with British stocks recouping all their losses along the way.

At the same time, demand for U.S. Treasurys surged this week, driving bond prices sharply higher. That pulled down the yield on the 10-year Treasury note to 1.44 percent Friday, close to its record low.

Investors also bid up the price of gold, another traditional safe-haven.

"Clearly there is still an underlying sense of nervousness," said JJ Kinahan, chief strategist at TD Ameritrade. "No reasonable economic theory would be telling you to buy bonds with this kind of yield. It's more 'I don't care if I don't make yield, I want my money back.'"

The Dow Jones industrial average gained 19.38 points, or 0.1 percent, to 17,949.37. The Standard & Poor's 500 index added 4.09 points, or 0.2 percent, to 2,102.95. The Nasdaq composite rose 19.89 points, or 0.4 percent, to 4,862.57.

The major stock indexes in Europe got a boost Friday as traders anticipated a coordinated central bank response to soothe volatility in the wake of Britain's vote to leave the European Union.

The British government said it would abandon its goals of achieving a budget surplus by the end of the decade, which would free up more money for the economy. The announcement came a day after the Bank of England said it would likely offer more monetary stimulus to the British economy to help it cope with the drop in business activity it is experiencing in the days since last week's vote to leave the EU.

All told, Britain's FTSE 100 rose 1.1 percent Friday, while Germany's DAX gained 1 percent. France's CAC 40 added 0.9 percent.

In the U.S., consumer-focused companies rose more than the rest of the market Friday. Netflix climbed $5.19, or 5.7 percent, to $96.67. Harley-Davidson led the gainers in the S&P 500 index, climbing $8.95, or 19.8 percent, to $54.25.

Financial and utilities stocks were the biggest laggard.

Several automakers reported growth in sales for June, giving a boost to shares in several auto-related companies. Ford Motor, which posted a 6 percent increase in sales for the month, rose 15 cents, or 1.2 percent, to $12.72. General Motors added 59 cents, or 2.1 percent, to $28.89, even though the company posted a 2 percent decline in sales due a large drop in rental sales. Auto supplier BorgWarner also got a lift, rising 77 cents, or 2.6 percent, to $30.29.

Investors flocked to stocks in the face of narrowing choices for investments amid low or negative interest rates on many bonds.

Expectations of more financial stimulus from central banks, which lowers returns on fixed-income investments like bonds, have pushed investors into buying stocks. Returns on many government bonds around the world — particularly in Europe and Japan — are negative.

In Asia, stock markets were mixed.

Japan's Nikkei 225 climbed 0.7 percent, while South Korea's KOSPI rose 0.9 percent and Taiwan's TAIEX index added 0.8 percent. Australia's S&P ASX 200 index gained 0.3 percent. Southeast Asian markets were mixed. The Hong Kong market was closed for holiday.

The dollar fell to 102.58 yen from 103.27 yen late Thursday. The euro rose to $1.1125 from $1.1077, while the pound fell to $1.3259 from $1.3244.

In energy futures trading, U.S. crude rose 66 cents, or 1.4 percent, to close at $48.99 a barrel in New York. Brent crude, used to price international oils, rose 53 cents to $50.35 a barrel in London. Natural gas rose 6 cents, or 2.2 percent, to $2.9870 per 1,000 cubic feet.

In metals trading, gold gained $18.40, or 1.4 percent, to $1,339 an ounce, while silver rose 97 cents, or 5.2 percent, to $19.59 an ounce. Copper added 2 cents to $2.22 a pound.

Among other big movers Friday:

— Micron Technology slumped 9.2 percent after the memory chip maker reported disappointing sales and gave an outlook that fell short of Wall Street's expectations. The company also said it will eliminate jobs to reduce its spending. The stock shed $1.26 to $12.50.

4129


----------



## bigdog

Source: http://finance.yahoo.com 

*Independence Day Holiday in the United States 	July 4 2016	* 

 *The NYSE DOW closed  	HIGHER ▲	19.38	points or ▲	0.11%	on	Monday, July 4, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,949.37	▲	19.38	▲	0.11%	*Holiday* 
	Nasdaq____	4,862.57	▲	19.89	▲	0.41%	*Holiday* 
	S&P_500___	2,102.95	▲	4.09	▲	0.19%	*Holiday* 
	30_Yr_Bond____	2.24	▼	-0.07	▼	-2.86%	*Holiday* 

NYSE Volume	 3,449,151,000 	 	 	 	 	  		 
Nasdaq Volume	 1,602,090,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,522.26	▼	-55.57	▼	-0.84%		
	DAX_____	9,709.09	▼	-67.03	▼	-0.69%		
	CAC_40__	4,234.86	▼	-39.10	▼	-0.91%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,365.20	▲	38.20	▲	0.72%		
	Shanghai_Comp	2,988.60	▲	56.13	▲	1.91%		
	Taiwan_Weight	8,760.58	▲	22.34	▲	0.26%		
	Nikkei_225___	15,775.80	▲	93.32	▲	0.60%		
	Hang_Seng.__	21,059.20	▲	264.83	▲	1.27%		
	Strait_Times.__	2,870.56	▲	24.19	▲	0.85%		
	NZX_50_Index_	6,940.95	▲	14.72	▲	0.21%		

http://finance.yahoo.com/news/asian...t-easing-expectations-052127650--finance.html

*Stocks dip in Europe amid thin trading, US shut for holiday

European stock markets are down slightly, despite gains earlier in Asia, as investors await more clarity on Britain's future outside the European Union and a U.S. holiday kept trading volumes thin*
Associated Press By Joe Mcdonald, AP Business Writer

BEIJING (AP) -- European stock markets slipped Monday, despite gains earlier in Asia, as investors awaited more clarity on Britain's future outside the European Union and a U.S. holiday kept trading volumes thin.

KEEPING SCORE: Germany's DAX fell 0.7 percent to close at 9,709.09 and France's CAC 40 shed 0.9 percent to 4,234.86. Britain's FTSE 100 dropped 0.8 percent to 6,522.26. While Wall Street was closed for the Fourth of July holiday, the Shanghai Composite Index rose 1.9 percent to 2,988.60 and Hong Kong's Hang Seng gained 1.3 percent to 21,059.20. Tokyo's Nikkei 225 advanced 0.6 percent to 15,775.80 and Sydney's S&P-ASX 200 gained 0.7 percent to 5,281.80.

POST-BREXIT STIMULUS: Investor sentiment was boosted last week by expectations the Bank of England and European Central Bank might provide monetary stimulus to shore up growth following Britain's vote and the U.S. Federal Reserve might postpone a rate hike. The top British central banker, Mark Carney, said that some form of stimulus "will likely be required over the summer" because the economic outlook has deteriorated.

EUROPEAN JITTERS: But the momentum in stock markets did not last in Europe, as the prospect of low interest rates for longer has hurt financial stocks. Banks take a hit to their earnings when interest rates are low, because they cannot lend money at higher, more profitable rates. Shares in Italian banks in particular are suffering because of concern about their ability to handle bad loans. There are also concerns about longer-term growth rates in Europe as uncertainty about Britain's exit lingers.

ANALYST QUOTE: "The recession we now expect in the U.K. will create an external demand shock for the euro area through trade linkages in goods and services," said Ruben Segura-Cayuela and Gilles Moec, economists at Bank of American Merrill Lynch. They expect "uncertainty spillovers" from the U.K. exit, mainly through lower business investment.

AUSTRALIAN ELECTIONS: Close election results left Australia with the possibility of a hung Parliament. Vote counting was due to resume Tuesday and political analysts said it could be two weeks or more before a result is announced. "Markets will be concerned by the potential for a period of policy paralysis when it comes to budget and economic reform," Ric Spooner of CMC Markets said in a report.

ENERGY: Benchmark U.S. crude shed 13 cent to $48.86 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained 66 cents on Friday. Brent crude, used to price international oils, dropped 18 cents to $50.17 in London. It rose 64 cents the previous session.

CURRENCY: The dollar edged up to 102.51 yen from Friday's 102.49 yen. The euro rose to $1.1146 from $1.1139, and the pound was roughly flat at $1.3295.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-108.75	points or ▼	-0.61%	on	Tuesday, July 5, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,840.62	▼	-108.75	▼	-0.61%		
	Nasdaq____	4,822.90	▼	-39.67	▼	-0.82%		
	S&P_500___	2,088.55	▼	-14.40	▼	-0.68%		
	30_Yr_Bond____	2.14	▼	-0.10	▼	-4.60%		

NYSE Volume	 3,643,179,750 	 	 	 	 	  		 
Nasdaq Volume	 1,545,659,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,545.37	▲	23.11	▲	0.35%		
	DAX_____	9,532.61	▼	-176.48	▼	-1.82%		
	CAC_40__	4,163.42	▼	-71.44	▼	-1.69%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,312.80	▼	-52.40	▼	-0.98%		
	Shanghai_Comp	3,006.39	▲	17.79	▲	0.60%		
	Taiwan_Weight	8,716.07	▼	-44.51	▼	-0.51%		
	Nikkei_225___	15,669.33	▼	-106.47	▼	-0.67%		
	Hang_Seng.__	20,750.72	▼	-308.48	▼	-1.46%		
	Strait_Times.__	2,864.67	▼	-5.89	▼	-0.21%		
	NZX_50_Index_	6,970.99	▲	30.04	▲	0.43%		

http://finance.yahoo.com/news/us-stocks-skid-fears-british-141434327.html

*Stocks skid, bond yields hit record lows on British worries*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” U.S. stocks slumped Tuesday as investors grew fearful over the health of the British financial system. Looking for safety, they flocked to Treasury notes and pushed the yields on long-term government bonds to all-time lows. Energy companies took the biggest losses as oil prices tumbled.

Investors were jolted after three U.K. financial firms stopped trading in their commercial property funds because large numbers of investors were trying to liquidate their holdings.

Stocks mostly fell, although investors bought shares of companies seen as safe plays, like household goods makers and utilities. Bond yields plunged, with the 10-year and 30-year Treasury yields reaching record-low levels as demand for Treasuries rose and prices jumped.

It was an abrupt end to a big four-day rally for stocks, and a reminder that the effects of Britain's vote to leave the European Union has left markets deeply unsettled. Answers may be very slow in coming.

"We've seen a tremendous rally pretty much every night in longer-term bonds" since the vote, said Tom di Galoma, managing director at Seaport Global Holdings. "There's just so many unanswered questions both from the legal standpoint, a diplomatic standpoint, an economic standpoint."

The Dow Jones industrial average fell 108.75 points, or 0.6 percent, to 17,840.62. The Standard & Poor's 500 index slid 14.40 points, or 0.7 percent, to 2,088.55. The Nasdaq composite lost 39.67 points, or 0.8 percent, to 4,822.90. U.S. markets were closed Monday for the Independence Day holiday.

Stocks took a steep two-day plunge last month after Britain voted to leave the European Union. Over the last four days they recovered almost all of the ground they lost after the vote.

On Tuesday the trouble began when Aviva Investors, Standard Life and M&G Investments stopped trading in their commercial property funds. The firms said they were protecting other investors who wished to remain in their respective funds. The Bank of England said it eased bank rules to allow them to lend up to 150 billion pounds ($200 billion) to households and businesses.

The pound fell to $1.3032 from $1.3259 on Tuesday, its weakest in 31 years.

The yield on the 10-year note dropped to 1.38 percent in late trading, down from 1.45 percent late Friday. It went as low as 1.36 percent during the day, according to Tradeweb. The yield on the 30-year note fell to 2.16 percent. It was 2.24 percent Friday.

According to Tradeweb, the yield on the 10-year and 30-year Treasury notes are both at all-time lows. They've tumbled this year as worries about the global economy, the U.S. Federal Reserve and now Britain have investors craving safety.

Other traditionally steady investments also did well. Gold rose $19.70, or 1.5 percent, to $1,358.70 an ounce. Silver gained 32 cents, or 1.6 percent, to $19.91 an ounce. Copper lost 3 cents to $2.18 a pound. Gold is at its highest price in more than two years and silver is the highest it's been since August 2014.

Benchmark U.S. crude sank $2.39, or 4.9 percent, to close at $46.60 a barrel in New York. Brent crude, used to price international oils, fell $2.14, or 4.3 percent, to close at $47.96 a barrel in London. That pulled energy companies lower. Halliburton shed $2.03, or 4.5 percent, to $43.53 and ConocoPhillips gave up $1.81, or 4.2 percent, to $41.70. Schlumberger retreated $1.89, or 2.4 percent, to $77.63.

Lower bond yields translate to lower interest rates on many kinds of loans such as mortgages, and that hurts bank profits. Citigroup lost $1.39, or 3.3 percent, to $40.78 and Goldman Sachs fell $3.80, or 2.6 percent, to $144.45.

Chemical and mining companies also took large losses. But the types of stocks that are generally considered the safest all traded higher. Those included household goods companies. Clorox added $2.08, or 1.5 percent, to $139.24 and Coca-Cola added 31 cents to $45.43. Also rising were phone and utility companies.

In other energy trading, wholesale gasoline fell 8 cents, or 5.6 percent, to $1.43 a gallon. Heating oil lost 7 cents, or 4.4 percent, to $1.45 a gallon. Natural gas dropped 22 cents, or 7.5 percent, to $2.76 per 1,000 cubic feet.

A majority stake in Hostess Brands, the company that makes Twinkies and Ding Dongs, is being acquired by Gores Holdings. Gores will pay $375 million in cash and commit another $350 million in the deal. Hostess filed for Chapter 11 bankruptcy protection four years ago. Gores Holdings is an acquisition company run by the private equity firm Gores Group. The holding company's stock added 23 cents, or 2.4 percent, to $10.01.

Insys Therapeutics climbed after the Food and Drug Administration approved its drug Syndros, a synthetic version of THC, a component of marijuana. Syndros is intended to treat severe weight loss in AIDS patients and nausea and vomiting in chemotherapy patients. The stock jumped 93 cents, or 7 percent, to $14.40.

Outside the U.S., stock indexes were mostly lower. France's CAC 40 fell 1.7 percent and Germany's DAX lost 1.8 percent. However Britain's FTSE 100 picked up 0.4 percent. Japan's benchmark Nikkei 225 slipped 0.7 percent to finish and South Korea's Kospi fell 0.3 percent. Hong Kong's Hang Seng dipped 1.4 percent.

The dollar fell to 101.49 yen from 102.58 yen. The euro slid to $1.1075 from $1.1125.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	78	points or ▲	0.44%	on	Wednesday, July 6, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,918.62	▲	78.00	▲	0.44%		
	Nasdaq____	4,859.16	▲	36.26	▲	0.75%		
	S&P_500___	2,099.73	▲	11.18	▲	0.54%		
	30_Yr_Bond____	2.15	▲	0.01	▲	0.65%		

NYSE Volume	 3,892,778,500 	 	 	 	 	  		 
Nasdaq Volume	 1,726,917,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,463.59	▼	-81.78	▼	-1.25%		
	DAX_____	9,373.26	▼	-159.35	▼	-1.67%		
	CAC_40__	4,085.30	▼	-78.12	▼	-1.88%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,284.70	▼	-28.10	▼	-0.53%		
	Shanghai_Comp	3,017.29	▲	10.90	▲	0.36%		
	Taiwan_Weight	8,575.75	▼	-140.32	▼	-1.61%		
	Nikkei_225___	15,378.99	▼	-290.34	▼	-1.85%		
	Hang_Seng.__	20,495.29	▼	-255.43	▼	-1.23%		
	Strait_Times.__	2,864.67	▼	-5.89	▼	-0.21%		
	NZX_50_Index_	6,977.23	▲	6.24	▲	0.09%		

http://finance.yahoo.com/news/us-stocks-slip-further-bond-142806045.html

*US stocks rise as drugmakers gain; gold keeps climbing*
Associated Press By MARLEY JAY

NEW YORK (AP) – U.S. stocks changed course and turned higher Wednesday, with drug and consumer companies leading the way. Investors were willing to take a few more risks than the day before, but they remained cautious, and demand for bonds and precious metals stayed high.

Stocks opened lower, and the Dow Jones industrial average fell as much as 127 points early on. Indexes started moving higher at noon and finished at their highest levels of the day. Phone companies, traditionally safe investments, fell after some recent gains. Bond prices were little changed after Tuesday’s surge, which pulled the yields on long-term U.S. bonds to their lowest levels ever recorded.

The day before, investors flocked to bonds and sold off all but the steadiest stocks as they worried about the health of Britain’s financial system. Those fears faded a bit on Wednesday, but Kristina Hooper, head of U.S. investment strategies at Allianz Global Investors, said demand for bonds will remain high as the effects of the British vote to leave the European Union ripple through the markets.

“It’s probably safe to assume there will be bouts of continued fear going forward that could drive the yield down … even lower than where we’ve already been,” she said.

The Dow Jones industrial average rose 78 points, or 0.4 percent, to 17,918.62. The Standard & Poor’s 500 index added 11.18 points, or 0.5 percent, to 2,099.73. The Nasdaq composite gained 36.26 points, or 0.8 percent, to 4,859.16.

Drugmakers AbbVie and Biogen led health care stocks higher after regulators in the European Union approved their drug Zinbryta, a treatment for multiple sclerosis that can be take just once a month. AbbVie rose $1.45, or 2.3 percent, to $63.37 and Biogen gained $5.45, or 2.3 percent, to $247.48.

Bond prices inched higher and yields fell as investors sought safety following Britain’s vote to leave the European Union. The yield on the 10-year Treasury note slipped to 1.37 percent from 1.38 percent and the yield on the 30-year Treasury bond fell to 2.14 percent from 2.15 percent. According to Tradeweb, both yields set all-time lows early Wednesday, reaching 1.32 percent and 2.10 percent, respectively.

Bond yields have tumbled over the last few months following a weak U.S. jobs report and then the unexpected result of the British referendum to leave the European Union. While the yields on U.S. bonds have fallen, they remain higher than yields from other advanced economies, some of which are negative. The U.S. economy also appears to be in better shape.

Netflix fell after a Jefferies & Co. analyst said its U.S. subscriber growth may be slower than expected. John Janedis also said competition is increasing for Netflix. He downgraded the stock to “Underperform” from “Hold” and cut his price target to $80 per share from $120. Netflix lost $3.31, or 3.4 percent, to $94.60.

Other consumer stocks traded higher, however. Online retailer Amazon rose $9.51, or 1.3 percent, to $737.61 and used car dealership CarMax gained $2.69, or 5.6 percent, to $50.45.

Phone company stocks were the only S&P 500 sector to trade lower. Frontier Communications pulled the sector to small losses as it gave up 10 cents, or 2 percent, to $4.88. Phone companies are the best-performing sector on the S&P 500 over the last month.

Nortek, which makes heating and ventilation systems for buildings, agreed to be acquired by Melrose Industries PLC for $86 per share, or $1.4 billion. Nortek stock jumped $24.09, or 38.6 percent, to $86.58.

The price of gold rose $8.40 to $1,367.10 an ounce and silver surged 30 cents, or 1.5 percent, to $20.20 an ounce. Gold is trading at its highest price since March 2014 while silver is at its highest price since August of that year. Newmont Mining gained $1.04, or 2.6 percent, to $41.42 and Harmony Gold rose 22 cents, or 5.4 percent, to $4.32.

Copper, meanwhile, fell 3 cents to $2.15 a pound.

Oil prices, which fell earlier in the day, also reversed course. Benchmark U.S. crude closed up 83 cents, or 1.8 percent, to $47.43 a barrel in New York. Brent crude, used to price international oils, added 84 cents, or 1.8 percent, to $48.80 a barrel in London.

Gas prices lagged after the U.S. government said stockpiles of gasoline jumped last week. That was a surprise to analysts, as S&P Global Platts says they expected gasoline stockpiles to fall by 900,000 barrels.

The price of wholesale gasoline remained at $1.43 a gallon, and companies that refine oil into gas stumbled. Marathon Petroleum fell $2.28, or 5.9 percent, to $36.50 and Valero Energy fell $1.18, or 2.4 percent, to $48.66. Phillips 66 slumped $1.56, or 2 percent, to $76.37.

In other energy trading, heating oil gained 3 cents to $1.47 a gallon. Natural gas rose 2 cents to $2.79 per 1,000 cubic feet.

The British pound continued to weaken. It’s at its lowest in more than 30 years and fell to $1.2922 from $1.3032 Wednesday. The dollar slipped to 101.40 yen from 101.55 yen on Tuesday. The euro rose to $1.1105 from $1.1075.

France’s CAC lost 1.9 percent and Germany’s DAX shed 1.7 percent while Britain’s FTSE 100 fell 1.2 percent. Tokyo’s Nikkei 225 and South Korea’s Kospi each skidded 1.9 percent. Hong Kong’s Hang Seng index slid 1.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-22.74	points or ▼	-0.13%	on	Thursday, July 7, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,895.88	▼	-22.74	▼	-0.13%		
	Nasdaq____	4,876.81	▲	17.65	▲	0.36%		
	S&P_500___	2,097.90	▼	-1.83	▼	-0.09%		
	30_Yr_Bond____	2.14	▼	-0.01	▼	-0.56%		

NYSE Volume	 3,589,306,250 	 	 	 	 	  		 
Nasdaq Volume	 1,555,933,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,533.79	▲	70.20	▲	1.09%		
	DAX_____	9,418.78	▲	45.52	▲	0.49%		
	CAC_40__	4,117.85	▲	32.55	▲	0.80%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,311.00	▲	26.30	▲	0.50%		
	Shanghai_Comp	3,016.85	▼	-0.45	▼	-0.01%		
	Taiwan_Weight	8,640.91	▲	65.16	▲	0.76%		
	Nikkei_225___	15,276.24	▼	-102.75	▼	-0.67%		
	Hang_Seng.__	20,706.92	▲	211.63	▲	1.03%		
	Strait_Times.__	2,862.17	▼	-2.50	▼	-0.09%		
	NZX_50_Index_	7,007.52	▲	30.29	▲	0.43%		

http://finance.yahoo.com/news/us-stocks-rise-survey-shows-142103202.html

*Stocks end mixed as crude oil dives and safety stocks fall*
Associated Press By MARLEY JAY

NEW YORK (AP) ”” U.S. stocks swerved between gains and losses Thursday and wound up with a muddled finish as the price of oil plunged. Investors also sold utility and phone company stocks. They have favored those companies all year, especially in the wake of Britain's vote to leave the European Union last month.

Stocks started higher, building on gains from the previous day. But they fell after a government report that showed oil stockpiles did not shrink as much as investors had hoped. Investors sold government bonds after buying them at a rapid clip earlier this week, and precious metals prices also slid. Energy companies were hammered as the price of oil dropped almost 5 percent.

Nate Thooft, head of global asset allocation for Manulife Asset Management, noted that stocks and oil prices have often traded in tandem this year.

"Where oil goes, stocks go," he said. "Oil fell dramatically pretty quickly."

The Dow Jones industrial average fell 22.74 points, or 0.1 percent, to 17,895.88. The Standard & Poor's 500 index slid 1.83 points, or 0.1 percent, at 2,097.90. The Nasdaq composite rose 17.65 points, or 0.4 percent, to 4,876.81. The Dow rose as much as 66 points in the morning and fell as much as 102 points in the afternoon.

The price of oil fell after the Energy Information Administration said crude oil inventories shrank by 2.2 million barrels last week. Analysts expected a bigger drop of 2.6 million barrels, according to S&P Global Platts. Inventories have been at historically high levels lately as the supply of oil outstrips demand.

Investors sold some of the safest groups of stocks.

Duke Energy shed $1.94, or 2.2 percent, to $85.29. Xcel Energy lost $1.01, or 2.2 percent, to $44.32. AT&T fell 80 cents, or 1.9 percent, to $42.30. The S&P 500's utility and phone company indexes have both climbed 20 percent this year. Bond prices dipped. The yield on the 10-year U.S. Treasury note rose to 1.39 percent from 1.37 percent. The yield on the 30-year Treasury note remained around 2.14 percent. Both notes have set all-time lows over recent days.

Gold, which is trading at its highest price in more than two years, lost $5 to $1,362.10 an ounce. Silver lost 37 cents, or 1.8 percent, to $19.84 an ounce. Copper shed 3 cents to $2.12 a pound.

Benchmark U.S. crude lost $2.29, or 4.8 percent, to $45.14 a barrel in New York. Brent crude, used to price international oils, lost $2.40, or 4.9 percent, to $46.40 a barrel in London. In the morning oil prices rose almost 2 percent.

Exxon Mobil fell $1.13, or 1.2 percent, to $92.96 and Chevron retreated $1.53, or 1.5 percent, to $103.05.

Organic food maker WhiteWave Foods jumped after French yogurt giant Danone agreed to buy the company for $56.25 a share, or about $10 billion. The deal would expand Danone's range of health foods and the U.S. market. WhiteWave gained $8.80, or 18.6 percent, to $56.23.

Dutch anti-virus software company AVG Technologies surged after rival Avast Software agreed to buy it for $25 a share, or $1.3 billion. AVG stock advanced $5.79, or 30.8 percent, to $24.58.

Health insurers Aetna and Humana slumped as investors worried that the government will stop the companies from combining. Aetna, the third-largest U.S. health insurer, agreed to buy Humana last year for about $35 billion in cash and stock. But the companies can't complete the deal without approval from the Department of Justice.

Humana stock dropped $17.24, or 9.6 percent, to $162.74 and Aetna skidded $4.77, or 4 percent, to $115.47.

Investors are looking at reports showing healthy hiring. A survey by payroll processor ADP said private U.S. companies added 172,000 jobs in June, a sign hiring may have picked up again after it slowed down in April and May. Meanwhile the U.S. government said weekly applications for unemployment benefits fell last week, another sign employers continue to hire more workers. The government will release its own jobs report on Friday.

"There's a general consensus that there's going to be a bounce-back for June," Thooft said. He said stocks could trade lower if the results are disappointing, but added that if the report is solid or better than expected, investors might wonder if that will encourage the Federal Reserve to raise interest rates.

Costco stock gained $7.69, or 4.9 percent, to $163.70 after investors were pleased with the warehouse club operator's June sales.

Hard drive maker Western Digital forecast stronger results for its fiscal fourth quarter after it acquired flash memory chip maker SanDisk in May. Western Digital stock rose $2.20, or 4.8 percent, to $47.66.

In other energy trading, wholesale gasoline lost 7 cents, or 4.9 percent, to $1.36 a gallon. Heating oil fell 6 cents, or 4.1 percent, to $1.41 a gallon. Natural gas lost 1 cent to $2.78 per 1,000 cubic feet.

Britain's FTSE 100 rose 1.1 percent, France's CAC 40 added 0.8 percent and Germany's DAX increased 0.5 percent. Japan's benchmark Nikkei 225 index slipped 0.7 percent. South Korea's Kospi climbed 1.1 percent and Hong Kong's Hang Seng rose 1 percent.

The dollar declined to 100.76 yen from 101.40 yen. The euro fell to $1.1055 from $1.1105. The British pound declined to $1.2896 from $1.2922. It's been trading at 30-year lows over the last few days.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	250.86	points or ▲	1.40%	on	Friday, July 8, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,146.74	▲	250.86	▲	1.40%		
	Nasdaq____	4,956.76	▲	79.95	▲	1.64%		
	S&P_500___	2,129.90	▲	32.00	▲	1.53%		
	30_Yr_Bond____	2.11	▼	-0.03	▼	-1.40%		

NYSE Volume	 3,541,475,500 	 	 	 	 	  		 
Nasdaq Volume	 1,821,231,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,590.64	▲	56.85	▲	0.87%		
	DAX_____	9,629.66	▲	210.88	▲	2.24%		
	CAC_40__	4,190.68	▲	72.83	▲	1.77%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,315.60	▲	4.60	▲	0.09%		
	Shanghai_Comp	2,988.09	▼	-28.75	▼	-0.95%		
	Taiwan_Weight	8,640.91	▲	65.16	▲	0.76%		
	Nikkei_225___	15,106.98	▼	-169.26	▼	-1.11%		
	Hang_Seng.__	20,564.17	▼	-142.75	▼	-0.69%		
	Strait_Times.__	2,847.04	▼	-15.13	▼	-0.53%		
	NZX_50_Index_	7,000.10	▼	-7.42	▼	-0.11%		

http://finance.yahoo.com/news/us-stocks-climb-strong-june-142821304.html

*Stocks finish just short of a record on strong jobs report

US stocks finish close to record highs after the government's June jobs report came in much stronger than investors expected*
Associated Press By Marley Jay, AP Markets Writer

NEW YORK (AP) -- U.S. stocks surged Friday, finishing just short of record highs, as investors responded enthusiastically to a strong June job market report.

The buying accelerated throughout the day after the Labor Department said U.S. employers added 287,000 jobs last month. That was far more than analysts expected, and after weak reports from April and May, it suggests the economy and job market haven't run out of steam.

"It was a strong report and it put to bed worries that we were seeing the job market sputter," said Kate Warne, investment strategist for Edward Jones.

Mining and materials companies, which would stand to benefit more than other industries from an accelerating economy, took the biggest gains. Machinery makers also jumped. Only eight stocks on the Standard & Poor's 500 finished lower.

The Dow Jones industrial average surged 250.86 points, or 1.4 percent, to 18,146.74. The S&P 500 rose 32 points, or 1.5 percent, to 2,129.90. The Nasdaq composite advanced 79.95 points, or 1.6 percent, to 4,956.76.

The government said the unemployment rate rose slightly as more people looked for jobs. There was also evidence wages were rising faster. The April and May reports worried investors, in part because they came after the economy grew just 1.1 percent over the first three months of 2016. The U.S. economy has been growing for more than six years and investors are wary that that streak could end.

Among material and industrial companies, paint and coatings maker PPG Industries added $3.29, or 3.2 percent, to $106.32 and aluminum producer Alcoa picked up 48 cents, or 5.2 percent, to $9.82. Machinery maker Caterpillar climbed $2.32, or 3.1 percent, to $77.37 and aerospace company Boeing gained $2.92, or 2.3 percent, to $130.09.

Retailer Gap climbed after it said sales at stores open at least a year grew in June as Old Navy results improved. Sales at those stores are considered an important measure of retailers' results, and Thomson Reuters said it was the first improvement in that gauge for Gap in more than a year. Analysts expected another decline this month.

Gap stock rose $1.07, or 4.9 percent, to $22.70. The stock is down 8 percent this year.

Videoconferencing equipment maker Polycom said it will be taken private by Siris Capital. It accepted an offer from Siris worth $12.50 per share, or $1.7 billion. Polycom accepted an offer from Mitel Networks in April. Polycom stock gained $1.38, or 12.7 percent, to $12.25. Mitel, which will get a $60 million payment from Polycom, climbed $1.19, or 19.8 percent, to $7.21.

The S&P 500 is less than a point away from the record high it set in May 2015. The Dow, too, is close to a record. They reached those peaks before investors got very worried about the slowdown in China's economy, before the Federal Reserve started raising interest rates for the first time in almost nine years, and before anyone thought Britain might really vote to leave the European Union.

While all of those concerns have hurt stocks, they have recovered. But it's been a very careful, uneasy rally. The stocks that have done the best in the last year are phone companies and utilities, which pay big dividends and are considered safe. U.S. bond yields have set all-time lows in the last few days. Gold is at its highest price in two years.

U.S. economic growth has been steady but uninspiring and corporate profits and revenues are in a slump. But the alternatives don't look any better. China has been shaky. The economies of Japan and Europe are weak, and the yields on some European bonds are negative as nations try to boost their economic growth. That means investors have to pay to own those bonds. So even if U.S. stocks aren't setting the world alight, they've been good enough.

"I don't think investors are nearly as excited as they would typically be in an environment where stocks are close to record highs," said Warne.

The yield on the 10-year Treasury note fell to 1.36 percent from 1.39 percent. That's far below the 2.29 percent level it began the year at. When demand for bonds is high, their prices rise and yields fall. That has the effect of sending interest rates on many kinds of loans including mortgages lower, since those rates are tied to bond yields.

Drug developer Juno Therapeutics said it halted a mid-stage study on a potential leukemia treatment following the deaths of two patients. The study involved the company's most advanced experimental drug, and Juno said the deaths of the patients came after an additional chemotherapy drug was added to their treatment. The stock sank $13.01, or 31.9 percent, to $27.81.

Energy prices were slightly higher. Benchmark U.S. crude added 27 cents to $45.41 a barrel in New York. Brent crude, a standard for international oil prices, picked up 36 cents to 46.76 a barrel in London.

Gold lost $3.70 to $1,358.40 an ounce. Silver picked up 26 cents, or 1.3 percent, to $20.10 an ounce. Copper held steady at $2.12 a pound.

In other energy trading, wholesale gasoline rose 1 cent to $1.37 a gallon. Heating oil remained at $1.41 a gallon. Natural gas added 2 cents to $2.80 per 1,000 cubic feet.

Germany's DAX jumped 2.2 percent and the CAC-40 in France was 1.8 percent higher. In Britain, the FTSE 100 added 0.9 percent. Japan's Nikkei 225 closed 1.1 percent down. Hong Kong's Hang Seng index shed 0.7 percent and South Korea's KOSPI lost 0.6 percent.

The dollar fell to 100.46 yen from 100.76 yen. The euro slipped to $1.1049 from $1.1055. The British pound rose to $1.2952 from $1.2896.

4768


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	80.19	points or ▲	0.44%	on	Monday, July 11, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,226.93	▲	80.19	▲	0.44%		
	Nasdaq____	4,988.64	▲	31.88	▲	0.64%		
	S&P_500___	2,137.16	▲	7.26	▲	0.34%		
	30_Yr_Bond____	2.15	▲	0.04	▲	1.90%		

NYSE Volume	 3,230,127,000 	 	 	 	 	  		 
Nasdaq Volume	 1,602,079,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,682.86	▲	92.22	▲	1.40%		
	DAX_____	9,833.41	▲	203.75	▲	2.12%		
	CAC_40__	4,264.53	▲	73.85	▲	1.76%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,417.50	▲	101.90	▲	1.92%		
	Shanghai_Comp	2,994.92	▲	6.82	▲	0.23%		
	Taiwan_Weight	8,786.47	▲	145.56	▲	1.68%		
	Nikkei_225___	15,708.82	▲	601.84	▲	3.98%		
	Hang_Seng.__	20,880.50	▲	316.33	▲	1.54%		
	Strait_Times.__	2,876.14	▲	29.10	▲	1.02%		
	NZX_50_Index_	7,062.45	▲	62.35	▲	0.89%		

http://finance.yahoo.com/news/stocks-gain-putting-p-500-142349020.html

*Stocks gain, setting a new record high for S&P 500 index*

NEW YORK (AP) ”” The Standard and Poor's 500 index closed at a record high Monday, beating the mark it set a bit over a year ago.

The Dow Jones industrial average was within 1 percent of its own closing high, which was also set in May last year, but the Nasdaq composite has further to go. The technology-focused index is still negative for the year and would have to gain nearly 5 percent to regain the closing high it reached last July.

The S&P 500 gained 7.26 points, or 0.3 percent, to 2,137.16. That beat the record close of 2,130.82 it reached on May 21, 2015.

The Dow rose 80.19 points, or 0.4 percent, to 18,226.93. The Nasdaq composite rose 31.88 points, or 0.6 percent, to 4,988.64.

The market has had a rough ride in the year since the S&P 500's last record. Investors have been rattled by plunging oil prices, falling corporate earnings, fears over possible rising interest rates, slowing growth in China, and, most recently, Britain's historic vote to leave the European Union.

In the weeks since the British referendum on June 23, however, many investors have come around to thinking that the consequences of the vote, which has come to be known as "Brexit," may be contained largely to Britain, and they've gone back to buying stocks again.

Jonathan Corpina, senior managing partner at Meridian Equity Partners, expressed surprise that the market has bounced back so much that the S&P 500 has reached another record high.

"If you looked at the headlines from Brexit, you'd think that the world was coming to an end," Corpina said. "And very quickly, in a matter of weeks, that was completely erased."

Technology stocks and banks rose more than the rest of the market, while utilities and phone companies, which investors have favored recently for their steady dividends, fell. Boeing rose $1.95, or 1.5 percent, to $132.04 and Citigroup added 31 cents, or 0.7 percent, to $42.29.

This week investors are turning their focus to company earnings. Aluminum maker Alcoa reported its quarterly earnings after the closing bell Monday, and JPMorgan Chase will release its own results on Thursday.

Earnings per share for companies in the S&P 500 index are expected to fall 5.4 percent for the second quarter, the fourth straight quarterly drop, according to research firm S&P Global Market Intelligence. But some investors think the worst is over as oil prices stabilize, the jobs market strengthens and consumers start spending more.

"When consumers start to spend more, producers have to produce more, which means they have to hire more workers," said John Manley, chief equity strategist for Wells Fargo Fund Management. "It's a virtuous cycle."

In Japan, the benchmark Nikkei 225 rose 4 percent following a weekend election that landed the ruling coalition a resounding victory, ensuring stability and more stimulus spending for the world's third-largest economy.

European markets closed sharply higher. France's CAC 40 gained 1.8 percent, while Germany's DAX climbed 2.1 percent. Britain's FTSE 100 added 1.4 percent. Elsewhere in Asia, South Korea's Kospi gained 1.3 percent and Hong Kong's Hang Seng rose 1.5 percent.

Benchmark U.S. crude fell 65 cents, or 1.4 percent, to close at $44.76 a barrel in New York. Brent crude, a standard for international oil prices, lost 51 cents, or 1.1 percent, to $46.25 a barrel in London.

In other energy trading in New York, wholesale gasoline rose 1 cent to $1.38 a gallon, heating oil was flat at $1.42 a gallon and natural gas dropped 10 cents, or 3.5 percent, to $2.70 percent.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.43 percent from 1.36 percent. The dollar rose to 102.77 yen from 100.46 yen. The euro rose to $1.1058 from $1.1049.

Gold fell $1.80 to $1,356.60 an ounce, silver rose 2 cents to $20.30 an ounce and copper rose 3 cents to $2.15 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	120.74	points or ▲	0.66%	on	Tuesday, July 12, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,347.67	▲	120.74	▲	0.66%		
	Nasdaq____	5,022.82	▲	34.18	▲	0.69%		
	S&P_500___	2,152.14	▲	14.98	▲	0.70%		
	30_Yr_Bond____	2.23	▲	0.08	▲	3.77%		

NYSE Volume	 4,057,556,250 	 	 	 	 	  		 
Nasdaq Volume	 1,758,964,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,680.69	▼	-2.17	▼	-0.03%		
	DAX_____	9,964.07	▲	130.66	▲	1.33%		
	CAC_40__	4,331.38	▲	66.85	▲	1.57%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,433.20	▲	15.70	▲	0.29%		
	Shanghai_Comp	3,049.38	▲	54.46	▲	1.82%		
	Taiwan_Weight	8,841.46	▲	54.99	▲	0.63%		
	Nikkei_225___	16,095.65	▲	386.83	▲	2.46%		
	Hang_Seng.__	21,224.74	▲	344.24	▲	1.65%		
	Strait_Times.__	2,901.82	▲	25.68	▲	0.89%		
	NZX_50_Index_	7,079.46	▲	17.01	▲	0.24%		

http://www.nytimes.com/aponline/2016/07/12/world/asia/ap-financial-markets.html?_r=0

*Dow Jones Industrial Average Closes at a Record High*

NEW YORK ”” The stock market reached another milestone Tuesday as the Dow Jones industrial average closed at a record high.

A day earlier, the broader Standard & Poor's 500, a widely used benchmark for index funds, also reached a record-high close. Both indexes beat peaks set in May 2015.

The Dow, which is made up of just 30 stocks, is an older and better-known barometer of the market than the S&P 500, but professional investors generally pay much closer attention to the S&P 500.

The Dow rose 120.74 points, or 0.7 percent, to 18,347.67. That is 35 points higher than its previous closing high set on May 19 last year.

The S&P 500 gained 14.98 points, or 0.7 percent, to 2,152.14. The Nasdaq composite rose 34.18 points, or 0.7 percent, to 5,022.82.

The Nasdaq is still lagging the other two main U.S. stock market indexes. The index, which is heavily weighted with technology and biotech stocks, erased its losses for the year on Tuesday.

The Dow and S&P 500 are each up 5.3 percent for 2016, having roared back following a big drop in January and early February. The S&P has soared 17.7 percent since reaching a low of the year of 1,829 on Feb. 11.

Investors continued to show an appetite for taking on risk. The biggest gainers included energy companies, which have been benefiting from a recovery in the price of oil, materials companies and banks.

Financial companies, which have lagged the market this year, have been rising in recent days as long-term interest rates move higher in the bond market. Higher rates mean banks can make more money from lending. Citigroup gained 93 cents, or 2.7 percent, to $43.44.

Despite recent increases, however, bond yields remain near historic lows, a worrisome sign to many analysts. Just last week the yield on the 10-year Treasury note touched an all-time low. Bond yields tend to fall when demand for bonds rises, which can indicate that investors are seeking safety.

"I wish we can be celebrating, but it's a little disconcerting," said Rob Bartenstein, CEO of Kestra Private Wealth Services. "You've got government bonds at historical lows and equity markets at historical highs. That's not something you see at the same time. ... I feel underinvested, but I'm not willing to chase stocks."

Sectors that investors tend to favor when they're nervous, including utilities, phone companies and makers of consumer staples, all fell as investors moved money out of lower-risk assets. Bond prices also fell sharply, sending yields higher.

Aluminum maker Alcoa kicked off the second quarter earnings season on a positive note by reporting revenue and profit that beat Wall Street expectations. The stock jumped 55 cents, or 5.4 percent, to $10.69. Earnings for companies in the S&P 500 are expected to fall compared to the year ago period, but then rise in the next quarter.

Seagate Technology surged $5.26, or 21.8 percent, to $29.35 after forecasting strong sales. It also announced it will cut 6,500 jobs, about 14 percent of its total.

Benchmark U.S. crude added $2.04 to close at $46.80 a barrel in New York. Brent crude, a standard for international oil prices, rose $2.22 to $48.47 a barrel in London. In other energy trading in New York, wholesale gasoline rose 5 cents to $1.43 a gallon, heating oil rose 5 cents to $1.46 a gallon and natural gas rose 3 cents to $2.73 per 1,000 cubic feet.

In Japan, the Nikkei 225 index jumped 2.5 percent, a day after soaring 4 percent. Prime Minister Shinzo Abe has promised new government spending to help jolt Asia's second-biggest economy back to life now that his Liberal Democratic Party has won in parliamentary elections. Investors are betting he'll keep flooding the market with money by expanding bond purchases.

Elsewhere in Asia, Korea's Kospi edged up 0.1 percent and Hong Kong's Hang Seng added 1.7 percent. In Europe, France's CAC 40 rose 1.6 percent and Germany's DAX added 1.3 percent. Britain's FTSE 100 was flat.

Shares of Nintendo jumped 12.7 percent in Tokyo, fueled by the craze for "Pokemon Go," a smartphone game that's become the top grossing app in the iPhone store less than a week after its release in the U.S., Australia and New Zealand.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 1.50 percent from 1.43 percent. The yield plunged last week as low as 1.32 percent, an all-time low, according to Tradeweb.

The dollar rose to 104.79 yen from 102.77 yen. The euro rose to $1.1067 from $1.1058.

The price of gold fell $21.30 to $1,335.30, silver fell 13 cents to $20.17 an ounce and copper rose 7 cents to $2.21 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	24.45	points or ▲	0.13%	on	Wednesday, July 13, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,372.12	▲	24.45	▲	0.13%		
	Nasdaq____	5,005.73	▼	-17.09	▼	-0.34%		
	S&P_500___	2,152.43	▲	0.29	▲	0.01%		
	30_Yr_Bond____	2.18	▼	-0.05	▼	-2.42%		

NYSE Volume	 3,479,240,250 	 	 	 	 	  		 
Nasdaq Volume	 1,523,787,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,670.40	▼	-10.29	▼	-0.15%		
	DAX_____	9,930.71	▼	-33.36	▼	-0.33%		
	CAC_40__	4,335.26	▲	3.88	▲	0.09%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,470.30	▲	37.10	▲	0.68%		
	Shanghai_Comp	3,060.69	▲	11.31	▲	0.37%		
	Taiwan_Weight	8,857.75	▲	16.29	▲	0.18%		
	Nikkei_225___	16,231.43	▲	135.78	▲	0.84%		
	Hang_Seng.__	21,322.37	▲	97.63	▲	0.46%		
	Strait_Times.__	2,910.65	▲	8.83	▲	0.30%		
	NZX_50_Index_	7,064.32	▼	-15.14	▼	-0.21%		

http://www.nytimes.com/aponline/2016/07/13/world/europe/ap-financial-markets.html?_r=0

*Stocks Eke Out Late Gains to Hit More Records*
By THE ASSOCIATED PRESSJULY 13, 2016, 5:12 P.M. E.D.T. 

NEW YORK ”” Stocks inched up to another record on Wednesday after spending much of the day flitting between gains and losses.

After big moves up in recent days, investors appeared to take a bit of breather. They nudged stocks higher at the open, then sent them down, then back up in indecisive trading that set the tone for the rest of the day. In the last half hour, the Standard and Poor's 500 crept to a tiny gain, closing up less than a third of a point, an increase of just 0.01 percent.

Still, it was another high, and a winning streak that began with a strong U.S. jobs report on Friday stretched into a fourth day.

Investors are hoping the strengthening economy combined with low interest rates will help lift corporate profits and the appetite for stocks.

"Good economic numbers could translate into decent second quarter earnings, and rates are low," said Ernie Cecilia, chief investment officer of Bryn Mawr Trust. That makes for a "decent environment" for stocks.

Utility companies rose more than the rest of the market, though, a sign that investors are cautious as they seek out the relative safety of steady dividend payers. Investors also sought safety in U.S. government bonds, sending yields lower. The yield on the 10-year Treasury note, which had been rising since hitting an all-time low last week, dropped to 1.47 percent from 1.51 percent.

The S&P 500 edged up 0.29 points to 2,152.43. The Dow Jones industrial average rose 24.45 points, or 0.1 percent, to 18,372.12. The Nasdaq composite lost 17.09 points, or 0.3 percent, at 5,005.73.

Rising oil prices have brought relief to the stock market in recent months, but the price reversed course Wednesday after the U.S. government said crude oil stockpiles shrank less than expected last week. Hess slumped $2.11, or 3.5 percent, to $58.02 and Devon Energy lost $1.01, or 2.5 percent, to $39.

Eight of the 10 biggest losers in the S&P 500 were energy-related companies.

For all the recent gains in stocks, the major indexes are barely above their old records a year ago.

"In essence, we have a stock market that has given us zero gains but plenty of heartaches," said James Abate, chief investment officer at Centre Asset Management.

Investors will turn their attention to second quarter earnings reports over the next few days. Earnings per share at companies in the S&P 500 are expected to fall 5.5 percent compared with the same period a year ago, according to research firm S&P Global Market Intelligence. That will be the fourth quarter in a row of drops.

On Thursday, JP Morgan Chase and Delta Air Lines report, followed by Citigroup and Wells Fargo on Friday.

Among stocks making big moves, Juno Therapeutics soared $2.63, or 9.5 percent, to $30.42 after regulators said its leukemia drug trials can continue. The stock had tumbled Friday after the Food and Drug Administration halted testing.

Arts and crafts chain Michaels fell $1.75, or 6 percent, to $27.13 after a disappointing forecast. It said it plans to sell stock to raise money.

In overseas trading, Britain's FTSE 100 slipped 0.2 percent and Germany's DAX fell 0.3 percent. France's CAC 50 rose 0.1 percent.

In Japan, the Nikkei 224 extended gains for another day with a rise of 0.8 percent on hopes that Prime Minister Shinzo Abe will expand bond purchases and flood financial markets with money now that his Liberal Democratic Party has won parliamentary elections.

South Korea's Kospi gained 0.7 percent. Hong Kong's Hang Seng index rose 0.5 percent.

In the currency markets, the euro rose to $1.1107 from $1.1067 and the dollar fell to 104.31 yen from 104.79 yen. The pound fell to $1.3182 from $1.3271.

Precious and industrial metals prices rose. Gold climbed $8.30 to $1,343.60 an ounce, silver increased 24 cents to $20.41 an ounce and copper added 3 cents to $2.24 a pound.

Benchmark U.S. crude fell $2.05, or 4.4 percent, to close at $44.75 a barrel in New York. Brent crude, a standard for international oil prices, lost $2.21, or 4.6 percent, to close at $46.26 a barrel in London.

In other energy trading, wholesale gasoline lost 5 cents, or 3.6 percent, to close at $1.38 a barrel, heating oil fell 8 cents, or 5.6 percent, to $1.38 a barrel and natural gas was flat at $2.74 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	134.29	points or ▲	0.73%	on	Thursday, July 14, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,506.41	▲	134.29	▲	0.73%		
	Nasdaq____	5,034.06	▲	28.33	▲	0.57%		
	S&P_500___	2,163.75	▲	11.32	▲	0.53%		
	30_Yr_Bond____	2.25	▲	0.07	▲	3.22%		

NYSE Volume	 3,411,006,500 	 	 	 	 	  		 
Nasdaq Volume	 1,529,936,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,654.47	▼	-15.93	▼	-0.24%		
	DAX_____	10,068.30	▲	137.59	▲	1.39%		
	CAC_40__	4,385.52	▲	50.26	▲	1.16%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,491.80	▲	21.50	▲	0.39%		
	Shanghai_Comp	3,054.02	▼	-6.67	▼	-0.22%		
	Taiwan_Weight	8,866.36	▲	8.61	▲	0.10%		
	Nikkei_225___	16,385.89	▲	154.46	▲	0.95%		
	Hang_Seng.__	21,561.06	▲	238.69	▲	1.12%		
	Strait_Times.__	2,906.92	▼	-3.73	▼	-0.13%		
	NZX_50_Index_	7,080.33	▲	16.01	▲	0.23%		

http://finance.yahoo.com/news/us-stocks-rise-early-trading-142522352.html

*US stocks rise for a 5th day on solid earnings reports*

NEW YORK (AP) ”” Solid earnings reports Thursday drove the stock market to another record high.

Stocks rose from the start of trading after JPMorgan Chase released results that were better than analysts expected. Companies are expected to report earnings dropped again in the April-June period, but a few big ones that have released numbers so far have beaten low expectations, encouraging investors.

The gains were broad, with nine of the 10 industry sectors of the Standard and Poor's 500 index showing gains. Banks rose the most, 0.9 percent.

"It's really early in earnings season, but so far so good," said Brad Sorensen, director of the Schwab Center for Financial Research. He added, "Optimism is starting to creep into the market."

Investors pulled money out of conservative assets like gold and Treasury bonds, sending yields on the bonds sharply higher. They also sold stocks of utility companies, considered a haven because of their safe and steady dividends.

The Dow Jones industrial average rose 134.29 points, or 0.7 percent, to 18,506.41. The S&P 500 gained 11.32 points, or 0.5 percent, to 2,163.75. The Nasdaq composite increased 28.33 points, or 0.6 percent, to 5,034.06.

The Dow and S&P 500 remain at record highs, but the Nasdaq is barely positive for the year.

The U.S. gains followed rallies in Germany, France and Japan, with stock indexes in each of those countries rising more than 1 percent.

British stocks initially rose, then gave up the gains after the Bank of England surprised investors by holding off on cutting interest rates despite the hit to the British economy from last month's vote to leave the European Union. The British pound soared on the news.

U.S. stocks have been on a rocky ride since the start of the year. They fell sharply in January and early February on fears that a slowdown in Chinese economic growth would drag the rest of the world into recession, then rose again, the fell after the shock of Britain's vote.

But a strong U.S. jobs report last Friday, hopes that Japan's ruling party will flood its market with even more money and signs of political stability in Britain as its new prime minister takes over have lifted investor spirits.

Brad McMillan, chief investment officer at the Commonwealth Financial Network, said the recent scares may have flushed out sellers, setting up the market for even bigger gains.

"Anyone inclined to sell did so" earlier, he said, "and now the market is dominated by buyers."

Still, McMillan is worried that prices may have gotten ahead of fundamentals.

Corporate earnings are the biggest driver of stock prices, and they're looking weak overall, notwithstanding Thursday's batch of solid reports. Per share earnings in the S&P 500 are expected to fall 5.5 percent from the year earlier period, the fourth quarter in a row of drops, according to S&P Global Market Intelligence.

Among companies making big moves on Thursday, Japanese messaging app Line surged 27 percent on its first day of trading, a gain of $8.74 to $41.58. Line has more users than Facebook or Twitter in Japan.

KFC owner Yum Brands climbed $2.53, or 3 percent, to $88.27 after reporting better-than-expected profit late Wednesday.

Delta Air Lines rose $1.42, or 3.6 percent, to $40.98 after also reporting second-quarter profits that beat expectations. Lower fuel prices have helped airlines post big profits.

JPMorgan Chase rose 96 cents, or 1.5 percent to $64.12. In addition to topping profit forecasts, investors were encouraged by strong trading revenue for the quarter. Citigroup and Wells Fargo report results on Friday.

In Europe, Germany's DAX was up 1.4 percent and the CAC-40 in France rose 1.2 percent. Britain's FTSE 100 slipped 0.2 percent.

In Japan, the Nikkei closed nearly 1 percent higher as the yen weakened against the dollar. Hong Kong's Hang Seng index rose 1.1 percent.

Prices of U.S. government fell, pushing the yield on the 10-year Treasury note to 1.53 percent from 1.48 percent.

The British pound rose to $1.3330 from $1.3160 a day earlier. The euro rose to $1.1123 from $1.1114 and the dollar rose to 105.43 yen from 104.33 yen.

Benchmark U.S. crude rose 93 cents to close at $45.68 a barrel in New York. Brent crude, a standard for international oil prices, rose $1.11 to close at $47.37 a barrel in London.

In other energy trading in New York, wholesale gasoline rose 4 cents to $1.41 a gallon, heating oil rose 3 cents to $1.41 a gallon and natural gas slipped a penny to $2.73 per 1,000 cubic feet.

Precious and industrial metals prices were mixed. Gold fell $11.40 to $1,332.20 an ounce, silver lost 9 cents to $20.32 an ounce and copper was flat at $2.24 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	10.14	points or ▲	0.05%	on	Friday, July 15, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,516.55	▲	10.14	▲	0.05%		
	Nasdaq____	5,029.59	▼	-4.47	▼	-0.09%		
	S&P_500___	2,161.74	▼	-2.01	▼	-0.09%		
	30_Yr_Bond____	2.30	▲	0.06	▲	2.45%		

NYSE Volume	 3,078,251,500 	 	 	 	 	  		 
Nasdaq Volume	 1,484,859,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,669.24	▲	14.77	▲	0.22%		
	DAX_____	10,066.90	▼	-1.40	▼	-0.01%		
	CAC_40__	4,372.51	▼	-13.01	▼	-0.30%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,510.10	▲	18.30	▲	0.33%		
	Shanghai_Comp	3,054.30	▲	0.28	▲	0.01%		
	Taiwan_Weight	8,949.85	▲	83.49	▲	0.94%		
	Nikkei_225___	16,497.85	▲	111.96	▲	0.68%		
	Hang_Seng.__	21,659.25	▲	98.19	▲	0.46%		
	Strait_Times.__	2,925.35	▲	18.43	▲	0.63%		
	NZX_50_Index_	7,072.88	▼	-7.45	▼	-0.11%		

http://finance.yahoo.com/news/stocks-rising-wall-street-6th-144432674.html

*Stocks end little changed after mixed day*

NEW YORK (AP) — Stocks ended more or less where they started on Friday as a five-day rally ran out of steam.

The market was down most of the day after disappointing bank earnings weighed on financial company shares. Investors also sold retailers and other consumer-focused stocks. But by the close, the Dow Jones industrial average managed to squeeze out a gain to set another record high.

U.S. government bonds fell, sending their yields higher.

“The market is taking a breather,” said Anna Rathbun, research director at CBIZ Retirement Plan Services. “Investors are taking gains.”

The Dow edged up 10.14 points, or 0.1 percent, to 18,516.55. The Standard & Poor’s 500 index slipped 2.01 points, or 0.1 percent, to 2,161.74. Six of the 10 sectors in that index ended lower.

The Nasdaq composite lost 4.47 points, or 0.1 percent, to end at 5,029.59.

All three indexes ended the week up, their third in a row.

Earnings remained a focus for investors. Wells Fargo fell $1.23, or 2.5 percent, to $47.71 after the consumer banking giant reported a drop in second-quarter earnings.

Earnings per share for the entire S&P 500 are expected to have dropped 5.3 percent last quarter compared to a year ago, according to S&P Global Market Intelligence. That would be the fourth quarter in a row of falling profits, rare outside of a recession.

Bill Strazzullo, chief market strategist at Bell Curve Trading, expects stocks will continue to climb in future weeks, but he’s worried. He thinks the gains have more to do with easy money policies by central banks in the U.S., Europe and Japan than any improvement in fundamentals.

“The market isn’t really trading on economic growth and earnings. It’s being propped up by wildly accommodative monetary policy,” he said. “The music will eventually stop and stock markets around the world will fall significantly.”

Trading was subdued in Europe after a man drove a truck into crowds celebrating Bastille Day along the beachfront of Nice, killing at least 84 people.

France’s CAC-40 was down 0.3 percent while Germany’s DAX was flat. Britain’s FTSE 100 rose 0.2 percent.

Travel-related stocks fell in the wake of the attack. Cruise operator Royal Caribbean lost $1.49, or 2.1 percent, to $70.39. Delta Air Lines fell $1, or 2.4 percent, to $39.98.

Among other stocks making big moves, Herbalife rose $5.89, or 10 percent, to $65.25 after it agreed to pay a $200 million settlement over allegations that it deceived consumers, but avoided a more serious charge that it was operating as a pyramid scheme. The deal puts an end to a Federal Trade Commission investigation of the nutritional supplements company that had stretched over two years.

In economic news, the Labor Department reported consumer prices rose a modest 1 percent in June from a year ago, suggesting that the Federal Reserve may take its time raising interest rates from the record lows that have helped push stocks higher. The Fed’s target for inflation is 2 percent.

The Commerce Department reported that retail sales rose a robust 2.7 percent in June from a year earlier. Consumer spending accounts for about two-thirds of economic output in the U.S., much higher than in many other developed countries.

In Asia, Japan’s Nikkei 225 rose 0.7 percent. The Hang Seng index in Hong Kong climbed 0.5 percent and South Korea’s Kospi index added 0.4 percent.

Benchmark U.S. crude rose 27 cents to close at $45.95 a barrel in New York. Brent crude, a standard for international oil prices, climbed 24 cents to $47.61 a barrel.

In other energy trading in New York, wholesale gasoline rose 1 cent to $1.42 a gallon, heating oil fell 1 cent to $1.40 a gallon and natural gas rose 3 cents to $2.76 per 1,000 cubic feet.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.59 percent from 1.54 percent, a big move. The euro fell to $1.1064 from $1.1123 and the dollar rose to 105.55 yen from 105.43 yen.

Precious and industrial metals prices fell. Gold fell $4.80 to $1,327.40 an ounce, silver lost 16 cents to $20.17 an ounce and copper declined 1 cent to $2.23 a pound.

5410


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	16.5	points or ▲	0.09%	on	Monday, July 18, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,533.05	▲	16.50	▲	0.09%		
	Nasdaq____	5,055.78	▲	26.19	▲	0.52%		
	S&P_500___	2,166.89	▲	5.15	▲	0.24%		
	30_Yr_Bond____	2.30	▲	0.00	▲	0.00%		

NYSE Volume	 2,997,180,250 	 	 	 	 	  		 
Nasdaq Volume	 1,485,015,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,695.42	▲	26.18	▲	0.39%		
	DAX_____	10,063.13	▼	-3.77	▼	-0.04%		
	CAC_40__	4,357.74	▼	-14.77	▼	-0.34%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,538.90	▲	28.80	▲	0.52%		
	Shanghai_Comp	3,043.56	▼	-10.73	▼	-0.35%		
	Taiwan_Weight	9,008.21	▲	58.36	▲	0.65%		
	Nikkei_225___	16,497.85	▲	111.96	▲	0.68%		
	Hang_Seng.__	21,803.18	▲	143.93	▲	0.66%		
	Strait_Times.__	2,928.76	▲	3.41	▲	0.12%		
	NZX_50_Index_	7,105.95	▲	33.07	▲	0.47%		

http://finance.yahoo.com/news/stock...y-trading-wall-street-143644389--finance.html

*Stocks inch higher, send S&P 500 to another record*

NEW YORK (AP) ”” Stocks ticked higher Monday as investors looked past this weekend's failed coup attempt in Turkey and nudged the Standard & Poor's 500 index to another record.

The S&P 500 rose 5.15 points, or 0.2 percent, to 2,166.89. It was the fifth time in the last six days that the index set a closing high. The Dow Jones industrial average rose 16.50, or 0.1 percent, to 18,533.05. The Nasdaq composite rose 26.19, or 0.5 percent, to 5,055.78.

The stock market has been on a mostly upward swing since February, notwithstanding a few setbacks, after shrugging off worries about fragile economies overseas, weaker profits at home and sundry other challenges. Add one more to the list: Friday's military uprising in Turkey.

Currency traders had the first chance to react to the attempted coup, which caught investors' attention after most stock markets were closed late Friday, and the initial reaction was one of fear. But by the time stock markets around the world opened for trading Monday, most reacted with a shrug, and the Turkish lira recovered some of its steep losses.

"The market is looking at things with a half-full lens these days, and there's some basis for the market to take this in stride," said Matthew Peron, head of global equity at Northern Trust Asset Management.

The coup attempt was quickly halted. Plus, economic reports around the world have been coming in better than analysts expected. "There is a firmer footing to the global economy, and this isn't enough to knock that narrative," Peron said.

Technology stocks led the way, rising 0.7 percent after SoftBank Group agreed to buy British chip designer ARM Holdings for $32 billion. ARM's U.S.-listed shares soared $19.09, or 40.6 percent, to $66.17.

Financial stocks gained after Bank of America reported earnings that were better than analysts were expecting. Banks have been struggling with low interest rates, which limit the profits they can earn from making loans.

Bank of America nevertheless reported a smaller decline in earnings than analysts forecast, due in part to higher trading revenue and cost cuts. Its stock rose 45 cents, or 3.3 percent, to $14.11.

The day atop the leaderboard for tech and bank stocks marks a turnaround from their performance earlier this year. Financial stocks are the only sector of the S&P 500's 10 that are still down for 2016, while technology has made one of the smallest gains.

For much of the year, investors have flocked instead to industries seen as offering a steadier ride. These are also ones that tend to pay the biggest dividends. Telecom stocks are up 22.1 percent, versus the S&P 500's 6 percent rise, for example.

Much of that demand likely came from investors seeking alternatives to bonds, which are paying only small amounts of interest. The Federal Reserve raised the target for its benchmark short-term interest rate in December for the first time since 2006, but economists have since been pushing out their predictions for when the next increase may occur.

The yield on the 10-year Treasury ticked higher Monday, to 1.58 percent from 1.55 percent late Friday.

Hasbro was the day's worst-performing stock in the S&P 500, despite reporting better-than-expected quarterly earnings. It fell $5.68, or 6.6 percent, to $79.82 after it said revenue growth at its boys' toy unit grew more slowly than analysts expected. The unit is Hasbro's largest, accounting for 40 percent of its total revenue.

Netflix stock dropped sharply in after-hours trading after the video service said it added fewer subscribers last quarter than expected. The company blamed cancellations by subscribers facing price increases after a two-year rate freeze expired. The stock sank $16.50, or 16.7 percent, to $82.15 after-hours.

A slew of other companies are scheduled to report their quarterly earnings this week, including nearly a fifth of the S&P 500 index. Analysts have dim expectations, with forecasts for a fourth consecutive decline in earnings, according to S&P Global Market Intelligence.

Many investors will be paying more attention to what companies have to say about upcoming earnings trends than how they did during the spring. Analysts are expecting earnings for the S&P 500 to return to growth in the current quarter, and investors hope to hear CEOs say at least that conditions are improving, if not good.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	25.96	points or ▲	0.14%	on	Tuesday, July 19, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,559.01	▲	25.96	▲	0.14%		
	Nasdaq____	5,036.37	▼	-19.41	▼	-0.38%		
	S&P_500___	2,163.78	▼	-3.11	▼	-0.14%		
	30_Yr_Bond____	2.27	▼	-0.03	▼	-1.22%		

NYSE Volume	 2,952,075,000 	 	 	 	 	  		 
Nasdaq Volume	 1,589,508,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,697.37	▲	1.95	▲	0.03%		
	DAX_____	9,981.24	▼	-81.89	▼	-0.81%		
	CAC_40__	4,330.13	▼	-27.61	▼	-0.63%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,533.90	▼	-5.00	▼	-0.09%		
	Shanghai_Comp	3,036.60	▼	-6.97	▼	-0.23%		
	Taiwan_Weight	9,034.87	▲	26.66	▲	0.30%		
	Nikkei_225___	16,723.31	▲	225.46	▲	1.37%		
	Hang_Seng.__	21,673.20	▼	-129.98	▼	-0.60%		
	Strait_Times.__	2,919.54	▼	-9.22	▼	-0.31%		
	NZX_50_Index_	7,154.83	▲	48.88	▲	0.69%		

http://finance.yahoo.com/news/us-stock-indexes-pull-back-142937469.html

*Dow inches to record high in mixed day for stock indexes*

NEW YORK (AP) ”” Stocks ended mixed Tuesday as investors let up on the accelerator after a three-week rally sent indexes to all-time highs.

The Dow Jones industrial average inched 25.96 points higher, or 0.1 percent, for its eighth consecutive gain to set another record at 18,559.01. But the Standard & Poor's 500 index, which more mutual funds at the core of 401(k) accounts benchmark themselves against, pulled back from its record high. It lost 3.11, or 0.1 percent, to 2,163.78. The Nasdaq composite fell 19.41, or 0.4 percent, to 5,036.37.

A mixed set of corporate earnings helped keep the market in a tight range through the day. The S&P 500 was down for the entire day but never by more than 0.4 percent. About 10 stocks fell on the New York Stock Exchange for every seven that rose.

Netflix was one of the decliners to pull down the S&P 500. It lost $12.97, or 13.1 percent, to $85.84 after the video streaming service reported adding fewer subscribers last quarter than it expected. The tumble continued a sharp turnaround for Netflix, whose stock has struggled in recent months after more than doubling in 2015, the biggest gain in the S&P 500.

Philip Morris International fell $3.11, or 3 percent, to $99.89 after reporting weaker quarterly results than analysts expected. Smokers in North Africa, Japan, Argentina and elsewhere bought fewer cigarettes, leading to a 5 percent drop in shipments from a year earlier.

Better-than-expected earnings from Johnson & Johnson, meanwhile, helped to prop up the Dow Jones industrial average, which has just 30 stocks. The health care giant rose $2.11, or 1.7 percent, to $125.25 after it raised its forecast for profits this year.

"For investors, the most important questions are: When is the recession coming, and am I paying too much for stocks?" said Linda Duessel, senior equity strategist at Federated Investors. "Everything else is noise, and there's so much noise."

Duessel does not see a recession on the horizon, and she says stock prices can remain high because government bonds and other alternatives look even less attractive.

A report on the housing industry was the latest to show better-than-expected data for the U.S. economy, joining updates earlier this month on retail sales and job growth. Home construction strengthened more in June than economists expected, particularly in the Northeast and West. The June reading on housing starts from the Commerce Department was the highest since February, though down from a year earlier.

The International Monetary Fund said Tuesday that indicators are pointing to a pickup in the U.S. economy following a weaker-than-expected first quarter. But it also lowered its forecast for global growth this year, down to 3.1 percent from 3.2 percent, due to the United Kingdom's recent vote to leave the European Union.

As for whether stocks are expensive, one big part of the answer is how much profit companies are producing. Stock prices tend to track earnings trends over the long term, and profits have been on the downswing for the last year. Analysts expect S&P 500 companies to say their earnings per share fell 5 percent in the spring quarter from the same period a year earlier, according to S&P Global Market Intelligence. Wall Street expects profit growth to resume in the second half of the year.

Overseas, Japan's Nikkei 225 index jumped 1.4 percent on a weaker yen and a Pokemon-powered rally in Nintendo shares. France's CAC 40 was down 0.6 percent, and Germany's DAX shed 0.8 percent.

The yield on the 10-year Treasury fell to 1.55 percent from 1.59 percent late Monday.

Precious and industrial metals prices ended the day mixed. Gold rose $3.00 to $1,332.30 per ounce. Silver fell 7 cents to $20.01, and copper rose nearly 3 cents to $2.26 per pound.

The price of crude oil fell 59 cents to $44.65 a barrel. Brent crude lost 30 cents, or 0.6 percent, to $44.66 a barrel in London. Wholesale gasoline fell 1 cent to $1.38 a gallon, heating oil edged up less than 1 cent to $1.38 a gallon and natural gas rose less than 1 cent to $2.73 per 1,000 cubic feet.

The euro fell to $1.1015 from $1.1068 late Monday, and the British pound fell to $1.3093 from $1.3260. The dollar slipped to 106.09 Japanese yen from 106.12 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	36.02	points or ▲	0.19%	on	Wednesday, July 20, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,595.03	▲	36.02	▲	0.19%		
	Nasdaq____	5,089.93	▲	53.56	▲	1.06%		
	S&P_500___	2,173.02	▲	9.24	▲	0.43%		
	30_Yr_Bond____	2.30	▲	0.02	▲	1.01%		

NYSE Volume	 3,196,547,000 	 	 	 	 	  		 
Nasdaq Volume	 1,778,106,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,728.99	▲	31.62	▲	0.47%		
	DAX_____	10,142.01	▲	160.77	▲	1.61%		
	CAC_40__	4,379.76	▲	49.63	▲	1.15%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,565.90	▲	32.00	▲	0.58%		
	Shanghai_Comp	3,027.90	▼	-8.70	▼	-0.29%		
	Taiwan_Weight	9,007.68	▼	-27.19	▼	-0.30%		
	Nikkei_225___	16,681.89	▼	-41.42	▼	-0.25%		
	Hang_Seng.__	21,882.48	▲	209.28	▲	0.97%		
	Strait_Times.__	2,945.74	▲	26.20	▲	0.90%		
	NZX_50_Index_	7,172.67	▲	17.84	▲	0.25%		

http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*A technology surge tips stock indexes to new highs*

NEW YORK (AP) – Stocks took another modest step further into record territory Wednesday after several companies reported profits that were stronger than expected, if not strong. Technology stocks led the way following an encouraging report from Microsoft.

Both the Standard & Poor’s 500 index and Dow Jones industrial average set all-time highs, and the Dow marked its ninth consecutive day of gains. It’s the longest winning streak for the measure of blue-chip stocks since 2013, and it’s been a decidedly slow-and-steady one. All but one of those days had a gain of less than 1 percent.

“The problem is: Where do we go from here?” asked Randy Frederick, managing director of trading and derivatives at Charles Schwab. “I have the tendency to believe the upside is somewhat limited,” in part because stock prices have been rising faster than corporate earnings in recent years.

The Standard & Poor’s 500 index rose 9.24 points, or 0.4 percent, to close at 2,173.02. The Dow Jones industrial average rose 36.02, or 0.2 percent, to 18,595.03. The Nasdaq composite rose 53.56, or 1.1 percent, to 5,089.93.

Companies are in the middle of telling investors how much they earned in the spring, and analysts are forecasting yet another decline from year-ago levels. The low expectations have made it easier for companies to come in above forecasts.

Microsoft surged to one of the biggest increases in the S&P 500 in the first day of trading after it reported quarterly results that easily beat analysts’ expectations. The technology giant’s stock jumped $2.82, or 5.3 percent, to $55.91 after it said momentum in its cloud-computing business helped it to return to a profit in its fiscal fourth quarter.

That drove the technology sector up 1.4 percent, much more than the rest of the market.

The best-performing stock in the S&P 500 was Cintas, which jumped $9.43, or 9.7 percent, to $106.85. The company, which provides uniforms, restroom supplies and other products for offices, also reported quarterly earnings above analysts’ expectations.

So far this reporting season, earnings for nearly two out of three companies have come in above analysts’ expectations, according to S&P Global Markets Intelligence. That’s what usually happens, because analysts tend to lower their earnings forecasts for companies as each reporting season approaches.

Several reports on the U.S. economy have also come in better than expected in recent weeks, which has helped drive the run for stocks to a record.

Markets have become calm enough that the VIX, an index that measures investors’ expectations of future volatility in the stock market, fell 2.2 percent and is near its lowest level since 2014.

The S&P 500 has been on a steady ride higher since setting a record on July 1, with no days where it has swung by 1 percent during that span. That’s a sharp turnaround from the end of June, when the S&P 500 swung at least that much in six straight days, with one fear-inducing drop of 3.6 percent.

The market’s calm has also meant less demand for gold and Treasurys, traditional go-to investments during periods of fear. The price of gold fell $13 to $1,319.30 per ounce. The yield on the 10-year Treasury note, which moves in the opposite direction of its price, rose to 1.58 percent from 1.56 percent late Tuesday.

The weakest areas of the stock market Tuesday were sectors that tend to be big dividend payers, such as utilities, which lost 0.5 percent. These types of stocks had led the market for much of 2016 as investors sought alternatives to low-yielding bonds.

Twenty-First Century Fox fell 75 cents, or 2.7 percent, to $27.00 amid widespread reports that its Fox News business will soon cut ties with its head, Roger Ailes, following allegations of sexual harassment. Fox News is a key profit maker for the company.

The price of U.S. crude oil rose 29 cents to $44.94 per barrel. Brent crude, the international benchmark, rose 51 cents to $47.17 a barrel. Wholesale gasoline fell 1 cent to $1.36 a gallon, heating oil rose 2 cents to $1.41 a gallon and natural gas fell 7 cents to $2.66 per 1,000 cubic feet.

Silver fell 39 cents to $19.61 per ounce, and copper fell less than a cent to $2.25 per pound.

European markets were mostly higher, while Asia’s day was mixed. Germany’s DAX rose 1.6 percent after Volkswagen reported earnings that were better than analysts were expecting. France’s CAC 40 climbed 1.1 percent, and Japan’s Nikkei 225 index dipped 0.2 percent.

The euro fell to $1.1005 from $1.1015 late Tuesday, and the dollar rose to 106.87 Japanese yen from 106.09 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-77.8	points or ▼	-0.42%	on	Thursday, July 21, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,517.23	▼	-77.80	▼	-0.42%		
	Nasdaq____	5,073.90	▼	-16.03	▼	-0.31%		
	S&P_500___	2,165.17	▼	-7.85	▼	-0.36%		
	30_Yr_Bond____	2.30	▲	0.00	▲	0.17%		

NYSE Volume	 3,405,430,000 	 	 	 	 	  		 
Nasdaq Volume	 1,750,604,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,699.89	▼	-29.10	▼	-0.43%		
	DAX_____	10,156.21	▲	14.20	▲	0.14%		
	CAC_40__	4,376.25	▼	-3.51	▼	-0.08%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,588.70	▲	22.80	▲	0.41%		
	Shanghai_Comp	3,039.01	▲	11.11	▲	0.37%		
	Taiwan_Weight	9,056.56	▲	48.88	▲	0.54%		
	Nikkei_225___	16,810.22	▲	128.33	▲	0.77%		
	Hang_Seng.__	22,000.49	▲	118.01	▲	0.54%		
	Strait_Times.__	2,940.48	▼	-5.26	▼	-0.18%		
	NZX_50_Index_	7,214.05	▲	41.38	▲	0.58%		

http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Stocks pull back, halting a record-setting win streak*

NEW YORK (AP) – Stocks fell Thursday after a mixed set of earnings reports put at least a temporary halt to the market’s record-setting run. Airlines had some of the sharpest drops on worries that falling fares will hurt their profits.

The Dow Jones industrial average sank, breaking a nine-day winning streak, its longest in three years. It lost 77.80 points, or 0.4 percent, to 18,517.23.

The Standard & Poor’s 500 index fell 7.85, or 0.4 percent, to 2,165.17. The Dow and S&P 500 have been setting a series of all-time highs this week. The Nasdaq composite sank 16.03, or 0.3 percent, to 5,073.90.

“It’s surprising how strong the market has been,” said Rich Weiss, senior portfolio manager at American Century Investments. Not only are companies in the midst of reporting another quarter of weaker earnings, U.S. economic growth is still only modest, and it’s even weaker elsewhere in the world.

“The only logical explanation is that it’s a horse race and that, relative to the other horses, the U.S. equity market is looking more attractive” than foreign stocks, bonds and other investments, Weiss said.

Stock markets overseas were mixed after the European Central Bank left interest rates at record lows but also said that it could add stimulus as it assesses the impact of the United Kingdom’s recent vote to leave the European Union.

The yield on the 10-year Treasury yield fell to 1.55 percent from 1.58 percent late Wednesday.

Southwest Airlines was the worst-performing stock in the S&P 500 and fell $4.71, or 11.2 percent, to $37.32. It reported weaker earnings growth than analysts expected and said a key revenue trend will turn down in the current quarter.

That helped drag down stocks across the airline industry. Delta Air Lines, United Continental Holdings and American Airlines Group all lost 2.7 percent or more.

Intel sank $1.42, or 4 percent, to $34.27 after reporting slower revenue growth for the latest quarter than analysts expected.

Electric-car maker Tesla lost $7.86, or 3.4 percent, to $220.50 after investors weren’t impressed with CEO Elon Musk’s “master plan” for the company, which was posted on Tesla’s website late Wednesday. Tesla is under scrutiny after one of its cars driving in Autopilot mode crashed in May, killing the driver.

Energy stocks fell with the price of oil. U.S. crude sank $1 to settle at $44.75 per barrel. Brent fell 97 cents to $46.20 a barrel in London. Wholesale gasoline fell 1 cent to $1.36 a gallon, heating oil fell 3 cents to $1.37 a gallon and natural gas rose 3 cents to $2.69 per 1,000 cubic feet.

The best-performing stock in the S&P 500 was eBay, which jumped $2.94, or 10.9 percent, to $29.93 after reporting stronger-than-expected results for the latest quarter.

Utility stocks also largely held up, rising 0.6 percent. They and other dividend-paying stocks have been at the forefront of the stock market’s rise this year, as investors searched for steadier returns and anything that produces income given how low bond yields are.

Utilities are up 20.2 percent so far this year, versus a 5.9 percent gain for the S&P 500. Some analysts see that as a worrying sign and want to see improvement in areas of the market that are more closely tied to the health of the economy, such as financials or companies that sell non-essential goods and services to consumers, before becoming more optimistic.

Gold rose $11.70 ounce to $1,331 an ounce, silver rose 20 cents to $19.82 an ounce and copper rose less than a cent to $2.26 a pound.

France’s CAC 40 index fell 0.1 percent, Britain’s FTSE 100 fell 0.4 percent, and Germany’s DAX index rose 0.1 percent. Japan’s Nikkei 225 added 0.8 percent, and South Korea’s Kospi slipped 0.2 percent.

The dollar fell to 105.86 Japanese yen from 106.87 late Wednesday, and the euro rose to $1.1013 from $1.1005.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	53.62	points or ▲	0.29%	on	Friday, July 22, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,570.85	▲	53.62	▲	0.29%		
	Nasdaq____	5,100.16	▲	26.26	▲	0.52%		
	S&P_500___	2,175.03	▲	9.86	▲	0.46%		
	30_Yr_Bond____	2.29	▼	-0.01	▼	-0.43%		

NYSE Volume	 3,011,740,500 	 	 	 	 	  		 
Nasdaq Volume	 1,547,111,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,730.48	▲	30.59	▲	0.46%		
	DAX_____	10,147.46	▼	-8.75	▼	-0.09%		
	CAC_40__	4,381.10	▲	4.85	▲	0.11%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,574.30	▼	-14.40	▼	-0.26%		
	Shanghai_Comp	3,012.82	▼	-26.19	▼	-0.86%		
	Taiwan_Weight	9,013.14	▼	-43.42	▼	-0.48%		
	Nikkei_225___	16,627.25	▼	-182.97	▼	-1.09%		
	Hang_Seng.__	21,964.27	▼	-36.22	▼	-0.16%		
	Strait_Times.__	2,945.35	▲	4.87	▲	0.17%		
	NZX_50_Index_	7,226.05	▲	12.00	▲	0.17%		

http://finance.yahoo.com/news/us-st...-another-listless-day-141819691--finance.html

*Another creep higher sends S&P 500 to record high, again*

NEW YORK (AP) — Another day, another lazy drift higher for stocks and another record high.

The Standard & Poor’s 500 index rose 9.86 points, or 0.5 percent, to 2,175.03 on Friday. It surpassed its prior record set Wednesday by 0.09 percent, the latest nudge higher for a market that has taken a decidedly slow-and-steady path to all-time highs in recent weeks. Telecom and utility stocks led the way, as they have for much of this year.

The Dow Jones industrial average rose 53.62 points, or 0.3 percent, to 18,570.85. The Nasdaq composite rose 26.26, or 0.5 percent, to 5,100.16. The gains sent all three indexes to their fourth consecutive winning week, their longest streak since March.

Many doubts still hang over the market, including the continued drop for corporate earnings and a U.S. economy that is growing only modestly. But various earnings and economic reports have come in better than expected, and the S&P 500 is up nearly 9 percent since June 27.

Southwestern Energy had the biggest gain in the S&P 500 following its own better-than-expected earnings report. It lost money in the latest quarter, but less than analysts estimated. The producer of natural gas and oil also raised its forecast for production this year, and its stock jumped $1.26, or 9.5 percent, to $14.47.

American Airlines Group likewise rose despite reporting a drop in earnings. It climbed $1.40, or 4 percent, to $36.36 after reporting better results than analysts expected.

The telecom and utilities sectors each rose 1.3 percent to lead the market. They have been at the forefront of the market’s rise this year because they pay some of the biggest dividends, and investors are scrounging for income given the low interest rates paid by bonds.

The yield on the 10-year Treasury note held steady at 1.56 percent, while the yield on the 30-year Treasury bond ticked down to 2.28 percent from 2.29 percent late Thursday.

Honeywell International fell $3.05, or 2.6 percent, to $115.61. The company reported stronger earnings than analyst expected, but it also lowered its forecast for full-year sales. It helped hold the industrial sector to the weakest gains of the day among the 10 sectors that make up the S&P 500, up 0.1 percent.

Fridays’ gains were the latest in a steady march higher for stocks. The S&P 500 has not had a day where it moved by 1 percent, up or down, in the last two weeks. It’s a sharp turnaround from the end of June, when worries about the United Kingdom’s vote to leave the European Union sent the S&P 500 to six straight days where it swung at least 1 percent.

The biggest loss for the S&P 500 over that span was Thursday’s drop of 0.4 percent. And investors quickly snapped up stocks the following day.

“I think people are a little more sensitized, where any tick lower in the market creates this ‘buy-on-the-dip’ mentality,” said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management. “I think it’s interesting; a half-a-percent move down feels like a 5 percent move.”

Next week could be more exciting. The Bank of Japan and Federal Reserve both hold policy meetings. Record-low interest rates and big stimulus programs from central banks have pushed stocks higher since the financial crisis.

Japan’s economy is barely growing. Economists are speculating about whether its central bank may push more stimulus next week.

The U.S. economy is in better shape than other advanced economies, and few expect the Federal Reserve to make a big move at its meeting. But if it highlights the better-than-expected recent economic reports, economists may move up their predictions for when the Fed could next raise interest rates.

The Fed pulled rates off their record low in December but has held pat since then.

European stock markets were mixed. Germany’s DAX index dipped 0.1 percent, France’s CAC 40 index rose 0.1 percent and Britain’s FTSE 100 rose 0.5 percent. Japan’s Nikkei 225 index fell 1.1 percent, Hong Kong’s Hang Seng dipped 0.2 percent and South Korea’s Kospi index lost 0.1 percent.

The price of U.S. crude fell 56 cents, or 1.2 percent to settle at $44.19 a barrel. Brent crude, the global benchmark, fell 51 cents, or 1.1 percent, to $45.69 a barrel in London. Wholesale gasoline rose 1 cent to $1.36 a gallon, heating oil fell 1 cent to $1.36 a gallon and natural gas rose 9 cents to $2.78 per 1,000 cubic feet.

Precious and industrial metals prices ended lower. Gold fell $7.60 to $1,323.40 an ounce, silver fell 13 cents to $19.69 an ounce and copper lost 2 cents to close at $2.24 a pound.

The pound sank against the dollar on expectations for more stimulus from the Bank of England. It fell to $1.3093 from $1.3203. The dollar ticked up to 106.17 Japanese yen from 105.86 yen, and the euro dipped to $1.0961 from $1.1013.

6018


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-77.79	points or ▼	-0.42%	on	Monday, July 25, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,493.06	▼	-77.79	▼	-0.42%		
	Nasdaq____	5,097.63	▼	-2.53	▼	-0.05%		
	S&P_500___	2,168.48	▼	-6.55	▼	-0.30%		
	30_Yr_Bond____	2.29	▲	0.00	▼	-0.17%		

NYSE Volume	 3,042,856,000 	 	 	 	 	  		 
Nasdaq Volume	 1,642,957,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,710.13	▼	-20.35	▼	-0.30%		
	DAX_____	10,198.24	▲	50.78	▲	0.50%		
	CAC_40__	4,388.00	▲	6.90	▲	0.16%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,607.50	▲	33.20	▲	0.60%		
	Shanghai_Comp	3,015.83	▲	3.01	▲	0.10%		
	Taiwan_Weight	8,991.67	▼	-21.47	▼	-0.24%		
	Nikkei_225___	16,620.29	▼	-6.96	▼	-0.04%		
	Hang_Seng.__	21,993.44	▲	29.17	▲	0.13%		
	Strait_Times.__	2,929.85	▼	-15.50	▼	-0.53%		
	NZX_50_Index_	7,317.31	▲	91.26	▲	1.26%		

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Stocks pull back after 4 weeks of gains; Yahoo slips*

NEW YORK (AP) ”” Stocks fell moderately on Monday as investors took a break after four weeks of gains that brought the market to record highs.

Energy companies fell more than the rest of the market as the price of oil took another turn lower. Yahoo fell after Verizon Communications announced it would buy most of Yahoo’s internet businesses for $4.83 billion.

The Dow Jones industrial average lost 77.79 points, or 0.4 percent, to 18,493.06. The Standard & Poor’s 500 index lost 6.55 points, or 0.3 percent, to 2,168.48 and the Nasdaq composite lost 2.53 points, or 0.1 percent, to 5,097.63.

It’s common for a market that has run up quickly to retreat. With the slow summer trading season and lack of economic news, traders say there are few reasons to be buying the market right now.

“This is a broad, but benign, sell-off,” said Ryan Larson, head of U.S. equity trading for RBC Global Asset Management.

Larson pointed out the recent price-to-earnings ratio on the S&P 500, or the amount money that investors are paying for each dollar of earnings, which was trading at nearly 20. That’s far above the 14-16 times that investors are typically comfortable with.

“It’s another reason why the market looks fatigued at the moment,” he said.

This week, while heavy on individual company earnings, is light on economic data. Later this week the Bank of Japan and Federal Reserve will hold policy meetings. With Japan’s economy barely growing, economists are speculating about whether its central bank may push more stimulus, likely lowering its interest rate further into negative territory when it announces its decision on Friday.

The U.S. economy is in better shape than other advanced economies, but expectations are that the Fed will hold interest rates steady and look to raise interest rates later this year. Securities that bet on which way the Fed will move interest rates show only a 10 percent chance of a rate increase this week. The Fed’s two-day meeting starts Tuesday.

Technology companies will dominate quarterly earnings news this week, including results from Apple, Amazon, Google and Facebook. Their reports are also likely to heavily impact trading this week.

In individual company news, Yahoo fell $1.06, or 2.7 percent, to $38.32 after the company announced that Verizon would buy Yahoo’s advertising, media and email businesses for $4.83 billion, ending a five-month auction. Verizon will add Yahoo to its portfolio of recently purchased media companies, including AOL.

Once finished, Yahoo will be a shell of its former self, existing mainly as a holding company for its Alibaba and Yahoo Japan investments, as well as its patent portfolio. Verizon fell 23 cents, or 0.4 percent, to $55.87.

Oil prices continued on their month-long slide. The price of crude fell $1.06, or 2.4 percent, to close at $43.13 a barrel. U.S. crude oil is down 12 percent this month. Brent crude, the global benchmark, dropped 97 cents, or 2.1 percent, to close at $44.72 a barrel in London.

The 2 percent drop in oil prices dragged down major energy companies. Chevron lost $2.59, or 2.5 percent, to $103.07 and Exxon Mobil gave up $1.81, or 2 percent, to $92.20, the two biggest drops in the Dow Jones industrial average.

In other energy trading, wholesale gasoline fell 3 cents to $1.33 a gallon, heating oil fell 3 cents to $1.32 a gallon and natural gas also fell 3 cents to close at 2.75 per 1,000 cubic feet.

U.S. government bond prices didn’t move much. The yield on the 10-year Treasury note held steady at 1.57 percent. The dollar fell to 105.85 yen from 106.17 yen. The euro rose to $1.0989 from $1.0961.

The price of gold fell $3.90 to $1,319.50 an ounce, silver fell 4 cents to $19.65 an ounce and copper fell 2 cents to $2.22 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-19.31	points or ▼	-0.10%	on	Tuesday, July 26, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,473.75	▼	-19.31	▼	-0.10%		
	Nasdaq____	5,110.05	▲	12.42	▲	0.24%		
	S&P_500___	2,169.18	▲	0.70	▲	0.03%		
	30_Yr_Bond____	2.28	▼	-0.01	▼	-0.31%		

NYSE Volume	 3,402,505,500 	 	 	 	 	  		 
Nasdaq Volume	 1,930,975,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,724.03	▲	13.90	▲	0.21%		
	DAX_____	10,247.76	▲	49.52	▲	0.49%		
	CAC_40__	4,394.77	▲	6.77	▲	0.15%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,612.60	▲	5.10	▲	0.09%		
	Shanghai_Comp	3,050.17	▲	34.34	▲	1.14%		
	Taiwan_Weight	9,024.79	▲	33.12	▲	0.37%		
	Nikkei_225___	16,383.04	▼	-237.25	▼	-1.43%		
	Hang_Seng.__	22,129.73	▲	136.29	▲	0.62%		
	Strait_Times.__	2,933.44	▲	3.59	▲	0.12%		
	NZX_50_Index_	7,310.39	▼	-6.92	▼	-0.09%		

http://hosted2.ap.org/APDEFAULT/f70...l Markets/id-b054000682ce49a69d919c0c7476ed05

*Stocks close flat as investors monitor company earnings*
By KEN SWEET, AP Business Writer

NEW YORK (AP) ”” Stocks had a muddled session on Tuesday, as investors worked through a large batch of corporate earnings from a range of companies including Gilead Sciences, McDonald's and Texas Instruments.

McDonald's shares had their biggest one-day percentage decline since the financial crisis, weighing heavily on the Dow Jones industrial average.

The Dow closed down 19.31 points, or 0.1 percent, to 18,473.75. The Standard & Poor's 500 index was effectively flat, rising 0.7 of a point, or 0.03 percent, to 2,169.18 and the Nasdaq composite rose 12.42 points, or 0.2 percent, to 5,110.05.

The decline in the Dow was due to McDonald's, which fell $5.69, or 4.5 percent, to $121.71. Because the Dow is price-weighted and McDonald's is among the most expensive of the 30 stocks that make it up, the company's shares have an outsized influence on the index.

McDonald's reported disappointing growth in the U.S. Sales rose a meager 1.8 percent from a year ago, even with the restaurant chain rolling out an all-day breakfast menu.

Wall Street is in the midst of its busiest week for corporate earnings, with 203 members of the S&P 500 reporting their results. So far, earnings have been better than what analysts had anticipated. Roughly 68 percent of all companies who have reported their results have beaten expectations, according to FactSet.

"You've seen better earnings, especially from companies that do a lot of business internationally," said Kate Warne, investment strategist for Edward Jones. "It is part of what's powered the market higher in July."

In particular, this week is a big one for tech earnings. Apple and Twitter reported after the closing bell Tuesday and Google, Amazon and Facebook release their results later this week.

Apple shares jumped $3.68, or 4 percent, to $101.03 in aftermarket trading. While the company reported a 27 percent drop in quarterly earnings from a year earlier, the results still beat analysts' expectations.

Twitter, however, plunged more than 10 percent in aftermarket trading after the company's results missed expectations and the company cut its guidance for the year.

The market's rally this month has given some investors pause. After an initial wobble in the days following Britain's vote in late June to leave the European Union, the S&P 500 has surged 3.3 percent. Now the index is trading at 19 times expected earnings, which is historically high compared to the 14 to 16 times the index typically trades at.

"We have moved very far, very fast after the U.K. vote," said David Lebovitz, a global market strategist at JP Morgan Asset Management. "We are going to need a bit of time to find the market's new neutral spot after this run-up."

The Federal Reserve started two-day policy meeting on Tuesday. Economists do not expect the nation's central bank to raise interest rates from their current rate of 0.25 percent to 0.5 percent, but will be looking for any signals that policymakers are looking to raise rates later this year.

An interest rate decision is expected Wednesday afternoon.

In other company earnings, Texas Instruments rose $5.20, or 8 percent, to $71.42 after the technology company's quarterly results were better than anticipated. The company also issued a strong forecast for the third quarter.

Consumer and industrial products manufacturer 3M fell $1.97, or 1.1 percent, to $177.66 after the maker of Post-Its and Scotch Tape said it was trimming its sales forecast for the year.

Drugmaker Gilead Sciences fell $7.50, or 8.5 percent, to $81.05 after the company cut its full-year sales. While the company saw sales gains in its HIV drugs, the company said it was facing pricing pressure and slower-than-expected demand for its most important drug Harvoni, which cures Hepatitis C, and its other Hep-C drugs like Solvaldi.

Benchmark U.S. crude fell 21 cents to close at $42.92 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, rose 15 cents to close at $44.87 a barrel in London.

In other energy commodities, heating oil rose less than 1 cent to $1.33 a gallon, wholesale gasoline futures rose 1 cent to $1.35 a gallon and natural gas fell 4 cents to $2.71 per 1,000 cubic feet.

Bond prices rose. The yield on the 10-year U.S. Treasury note fell to 1.56 percent from 1.57 percent. The dollar declined to 104.62 yen from 105.85. The euro edged up to $1.0987 from $1.0989.

Gold rose $1.30 to $1,320.80 an ounce, silver rose 4 cents to $19.68 an ounce and copper rose less than a penny to $2.23 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-1.58	points or ▼	-0.01%	on	Wednesday, July 27, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,472.17	▼	-1.58	▼	-0.01%		
	Nasdaq____	5,139.81	▲	29.76	▲	0.58%		
	S&P_500___	2,166.58	▼	-2.60	▼	-0.12%		
	30_Yr_Bond____	2.23	▼	-0.05	▼	-2.28%		

NYSE Volume	 3,935,951,000 	 	 	 	 	  		 
Nasdaq Volume	 1,970,925,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,750.43	▲	26.40	▲	0.39%		
	DAX_____	10,319.55	▲	71.79	▲	0.70%		
	CAC_40__	4,446.96	▲	52.19	▲	1.19%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,615.00	▲	2.40	▲	0.04%		
	Shanghai_Comp	2,992.00	▼	-58.17	▼	-1.91%		
	Taiwan_Weight	9,063.39	▲	38.60	▲	0.43%		
	Nikkei_225___	16,664.82	▲	281.78	▲	1.72%		
	Hang_Seng.__	22,218.99	▲	89.26	▲	0.40%		
	Strait_Times.__	2,941.49	▲	8.05	▲	0.27%		
	NZX_50_Index_	7,301.90	▼	-8.49	▼	-0.12%		

http://finance.yahoo.com/news/us-stocks-rise-helped-jump-142016013.html

*US stocks edge mostly lower despite a big gain for Apple*

NEW YORK (AP) ”” Stocks ended Wednesday's trading slightly lower as shares of energy companies and consumer goods makers outweighed gains in technology companies like Apple.

Investors also worked through the Federal Reserve's latest policy statement. The Fed didn't make any changes to interest rates but left the door open for increases later this year.

The Dow Jones industrial average fell 1.58 points, less than 0.1 percent, to 18,472.17. The Standard & Poor's 500 index lost 2.60 points, or 0.1 percent, to 2,166.58. The technology-heavy Nasdaq composite rose 29.76 points, or 0.6 percent, to 5,139.81.

Apple jumped $6.36, or 6.6 percent, to $103.03. While the company reported lower revenue and iPhone sales, it still earned $10.5 billion last quarter, well above analysts' estimates. Apple had been one of the biggest drags on the market this year as investors became concerned that its years of massive growth were coming to an end. Apple nearly erased its loss for the year.

"The expectations for Apple were abysmal," said Daniel Morgan, a portfolio manager at Synovus Trust Company who owns Apple shares. "Everyone is waiting for later this year, when Apple releases new products."

Apple, one of the 30 stocks in the Dow Jones industrial average, is the first of the major technology companies to report this week. Investors got results from Facebook after the close of trading Wednesday, which will be followed by Amazon and Google later this week.

Facebook shares jumped 8 percent to $131.05 in aftermarket trading after the company's quarterly results easily surpassed analysts' expectations on both sales and profit. The company said roughly 1.71 billion people now use Facebook at least once a month, up 15 percent from a year earlier.

Coca-Cola, another component of the Dow, fell $1.48, or 3.3 percent, to $43.40 after the beverage giant trimmed its sales outlook for the year, citing weak demand in China and other international markets. Coke has faced headwinds in the U.S. and internationally as more consumers move away from sugary drinks.

Twitter, which also reported its results late Tuesday, plunged $2.68, or 15 percent, to $15.77. The social media company reported another loss and said user adoption rates continue to slow. Roughly 313 million people regularly used Twitter last quarter, a fraction of the 1.7 billion people who use Facebook regularly.

"It's really now becoming a question on whether Twitter as a concept is something financially viable," Morgan said. "Fundamentally, is this going to work?"

The Federal Reserve voted to keep interest rates unchanged while noting that "near-term risks" to the economy have "diminished." The Fed said the U.S. job market has rebounded, with strong job gains in June following weak growth in May. Investors will get another policy decision by one of the world's central banks on Friday, when the Bank of Japan is likely to vote to increase its economic stimulus efforts.

Benchmark U.S. crude fell $1, or roughly 2.3 percent, to close at $41.92 a barrel on the New York Mercantile Exchange, continuing its month-long decline. Brent crude, used to price international oils, fell $1.40 to $43.47 a barrel in London.

Energy stocks were among the biggest decliners as oil prices fell. Marathon Oil, Transocean and Hess Corporation all fell roughly 4 percent or more.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.51 percent from 1.56 percent, most of the gains coming after the Fed's announcement. The dollar rose to 105.23 yen from 104.63 yen and the euro fell to $1.1054 from $1.0986.

In metals, the price of gold rose $5.90 to $1,326.70 an ounce, silver rose 31 cents to $20 an ounce and copper fell 4 cents to $2.19 a pound.

In other energy commodities, heating oil fell 3 cents to $1.30 a gallon, wholesale gasoline futures fell 2 cents to $1.32 a gallon and natural gas fell 4 cents to $2.67 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-15.82	points or ▼	-0.09%	on	Thursday, July 28, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,456.35	▼	-15.82	▼	-0.09%		
	Nasdaq____	5,154.98	▲	15.17	▲	0.30%		
	S&P_500___	2,170.06	▲	3.48	▲	0.16%		
	30_Yr_Bond____	2.23	▲	0.00	▲	0.04%		

NYSE Volume	 3,653,419,750 	 	 	 	 	  		 
Nasdaq Volume	 1,833,893,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,721.06	▼	-29.37	▼	-0.44%		
	DAX_____	10,274.93	▼	-44.62	▼	-0.43%		
	CAC_40__	4,420.58	▼	-26.38	▼	-0.59%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,636.70	▲	21.70	▲	0.39%		
	Shanghai_Comp	2,994.32	▲	2.32	▲	0.08%		
	Taiwan_Weight	9,076.64	▲	13.25	▲	0.15%		
	Nikkei_225___	16,476.84	▼	-187.98	▼	-1.13%		
	Hang_Seng.__	22,174.34	▼	-44.65	▼	-0.20%		
	Strait_Times.__	2,918.62	▼	-22.87	▼	-0.78%		
	NZX_50_Index_	7,306.35	▲	4.45	▲	0.06%		

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Stocks post slight gains as investors work through earnings*

NEW YORK (AP) ”” Stocks had another day of meager gains on Thursday as investors worked through a new batch of mixed company earnings, including results from Facebook, Ford and Whole Foods.

Cautious investors are looking ahead to a meeting of the Bank of Japan on Friday which is expected to result in an announcement of more stimulus for the world’s third-largest economy.

The Dow Jones industrial average lost 15.82 points, or 0.1 percent, to 18,456.35. The Standard & Poor’s 500 index rose 3.48 points, or 0.2 percent, to 2,170.06 and the Nasdaq composite rose 15.17 points, or 0.3 percent, to 5,154.98.

After the market’s run-up this month, investors have mostly been in wait-and-see mode this week. While it’s been a busy week for corporate earnings, and individual stocks have moved a lot, the overall market has been relatively quiet. Market strategists have said that stocks have gotten expensive in recent days, and many investors are waiting for earnings to play out before making any major moves.

Once again, technology companies were front and center. Facebook shares rose $1.66, or 1.3 percent, to $125. The social networking company reported earnings that more than doubled from a year earlier, topping analysts’ views, as well as a 15 percent rise in monthly users. However the shares had been much higher earlier in the session.

NetSuite jumped $16.84, or 18 percent, to $108.41 after computer software giant Oracle announced it was buying the company for $9.3 billion. NetSuite and Oracle both specialize in high-end software, but NetSuite specializes more in cloud computing while Oracle is heavy on mainframe database software. Oracle rose 26 cents, or 0.6 percent, to $41.19 on the news.

Investors got results from Google’s parent company, Alphabet, and Amazon after the market close Thursday. Amazon rose 2 percent and Alphabet rose 3 percent as both companies’ results beat analysts’ expectations.

Investors are now hoping for new stimulus efforts from the Bank of Japan, which is expected to vote Friday on expanding monetary policy measures aimed at reviving sputtering growth in Asia’s second-biggest economy. Japanese Prime Minister Shinzo Abe has announced 28 trillion yen ($266 billion) in extra government spending to jumpstart growth, but details are uncertain.

Bond prices fell slightly, having jumped a day earlier following a decision by the Federal Reserve to keep interest rates steady. Investors are now looking to the September meeting. Securities that allow investors to bet on which way the Fed will move rates show a 25 percent chance that the Fed will increase rates at that meeting.

“We think September has a good chance of a rate hike, and this week’s announcement confirmed that,” said Kristina Hooper, head of U.S. investment strategies at Allianz Global Investors.

Hooper added that there are some investors who believe the Fed will not raise rates so close to a presidential election, but she does not see it as a major factor.

The yield on the benchmark U.S. 10-year note was 1.51 percent, up from 1.50 percent the day before.

In other trading, Whole Foods Market fell $3.03, or 9 percent, to $30.61 after the high-end supermarket chain reported that sales declined in the quarter, as the company faces more competition from other supermarkets who have been increasing their organic produce options.

Ford lost $1.13, or 8 percent, to $12.71 after the company reported a 9 percent drop in profits as sales slowed in the U.S. and struggled in China. The company warned that its full-year guidance might need to be cut.

In currencies, the euro rose to $1.1073 from $1.1023 and the dollar was unchanged at 105.45 yen.

In the energy market, benchmark U.S. crude fell 78 cents to close at $41.14 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, lost $1.40 to close at $43.47 a barrel in London.

In other energy trading, wholesale gasoline fell 2 cents to $1.31 a gallon, heating oil fell 2 cents to $1.27 a gallon and natural gas rose 4 cents to $2.67 per 1,000 cubic feet.

In the metals markets, gold rose $5.60 to $1,332.30 an ounce, silver rose 20 cents to $20.19 an ounce and copper rose 2 cents to $2.21 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-24.11	points or ▼	-0.13%	on	Friday, July 29, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,432.24	▼	-24.11	▼	-0.13%		
	Nasdaq____	5,162.13	▲	7.15	▲	0.14%		
	S&P_500___	2,173.60	▲	3.54	▲	0.16%		
	30_Yr_Bond____	2.18	▼	-0.05	▼	-2.11%		

NYSE Volume	 3,952,279,750 	 	 	 	 	  		 
Nasdaq Volume	 1,950,548,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,724.43	▲	3.37	▲	0.05%		
	DAX_____	10,337.50	▲	62.57	▲	0.61%		
	CAC_40__	4,439.81	▲	19.23	▲	0.44%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,644.00	▲	7.30	▲	0.13%		
	Shanghai_Comp	2,979.34	▼	-14.98	▼	-0.50%		
	Taiwan_Weight	8,984.41	▼	-92.23	▼	-1.02%		
	Nikkei_225___	16,569.27	▲	92.43	▲	0.56%		
	Hang_Seng.__	21,891.37	▼	-282.97	▼	-1.28%		
	Strait_Times.__	2,868.69	▼	-49.93	▼	-1.71%		
	NZX_50_Index_	7,348.13	▲	41.78	▲	0.57%		

http://finance.yahoo.com/news/stocks-fall-bank-japans-stimulus-142250892.html

*Stocks close mostly higher, helped by technology, oil*

NEW YORK (AP) — Stocks ended slightly higher on Friday, helped by better-than-expected quarterly results from Google's parent Alphabet and retailer Amazon and a modest recovery in oil prices.

However, the gains were held back by disappointing results from Exxon Mobil as well as news out of the Bank of Japan, which did not announce as much stimulus as many had hoped.

The Dow Jones industrial average closed down 24.11 points, or 0.1 percent, to 18,432.24.

The Dow was held back partly by a drop in the oil giant Exxon Mobil. The company reported its smallest quarterly profit in 17 years, well below what analysts were looking for, due to the continuing weakness in oil prices. Its major competitor, Chevron, fared slightly better. While earnings dropped sharply from a year ago, Chevron's results still beat analysts' expectations.

Exxon fell $1.25, or 1.4 percent, to $88.95. Chevron climbed 69 cents, or 0.7 percent, to $102.48 after being down earlier in the day.

Broader market indicators ended higher. The Standard & Poor's 500 index rose 3.54 points, or 0.2 percent, to 2,173.60 and the Nasdaq composite increased 7.15 points, or 0.1 percent, to 5,162.13.

Wall Street is finishing out its busiest week of corporate earnings, which was dominated by mostly strong results from technology companies including Apple, Facebook, Alphabet, Amazon and others.

Alphabet, the parent company of Google, jumped $25.50, or 3.3 percent, to $791.34. The company reported earnings of $8.42 a share, well above the $8.04 that analysts were looking for.

Amazon rose $6.20, or 1 percent, to $758.81. The online retail giant reported a profit of $1.78 per share, well above the $1.11 a share that analysts expected. Amazon reported it sold $30.4 billion in goods in the quarter, up 31 percent from a year earlier.

The strong results from Amazon and Google, as well as the results from other tech companies, helped lift the technology-heavy Nasdaq 1.2 percent this week, while the Dow lost 0.8 percent. The S&P 500 closed the week down slightly. It was the first weekly loss for the S&P 500 after four weeks of gains.

So far, corporate profits appear to be coming well ahead of what were very low expectations. Earnings in the S&P 500 so far are down 2.4 percent from a year ago, which is better than the 5.2 percent decline expected when earnings season started, according to S&P Global Market Intelligence.

"Expectations were exceptionally low for the second quarter. While consumers goods and technology has been better than expected, the energy sector continues to show challenges," said Kate Moore, chief equity strategist for BlackRock.

Investors remain cautious, however. The run-up earlier this month made stocks more expensive than investors are historically comfortable with. The S&P 500 is trading at 18.5 times its expected earnings for the next year, noticeable above the 12-14 times investors typically look for.

The presidential election will continue to grow as an issue for markets in the next several months. Investors dislike uncertainty, and the unexpectedly close presidential election and mostly unknown policies of Donald Trump puts them on edge.

Next week another fifth of the S&P 500 will report their results, including Proctor & Gamble, General Motors, Kraft Heinz, 21st Century Fox and Allstate, among many others.

Moore also pointed out the July jobs report, released August 5, will give investors direction since the June and May jobs reports showed two clashing directions for the U.S. economy.

Japan's central bank ended a policy meeting Friday by announcing it will expand purchases of exchange traded funds from financial institutions to help inject more cash into the world's third-largest economy and pursue its 2 percent inflation target. But the measures fell short of hopes for more aggressive action. That helped the yen surge as investors priced in fewer yen in circulation. The dollar dropped to 102.03 yen from 105.45 yen.

Bond prices rose. The yield on the benchmark U.S. 10-year Treasury note falling to 1.46 percent from 1.51 percent the day before.

In energy trading, benchmark U.S. crude reversed earlier losses and was up 46 cents to close at $41.60 on the New York Mercantile Exchange. Brent crude, used to price international oils, fell 24 cents to $42.46 a barrel in London.

Heating oil rose less than 1 cent to $1.28 a gallon, wholesale gasoline futures rose 1 cent to $1.32 a gallon and natural gas fell was little changed at $2.88 per thousand cubic feet.

In other currencies, the euro rose to $1.1179 from $1.1073 the day before and the British pound rose to $1.3239 from $1.3148.

The price of gold closed up $16.70 to $1,349 an ounce, silver rose 16 cents to $20.31 an ounce and copper rose a penny to $2.222 a pound.

6544


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-27.73	points or ▼	-0.15%	on	Monday, August 1, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,404.51	▼	-27.73	▼	-0.15%		
	Nasdaq____	5,184.20	▲	22.06	▲	0.43%		
	S&P_500___	2,170.84	▼	-2.76	▼	-0.13%		
	30_Yr_Bond____	2.23	▲	0.05	▲	2.38%		

NYSE Volume	 3,494,311,250 	 	 	 	 	  		 
Nasdaq Volume	 1,748,412,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,693.95	▼	-30.48	▼	-0.45%		
	DAX_____	10,330.52	▼	-6.98	▼	-0.07%		
	CAC_40__	4,409.17	▼	-30.64	▼	-0.69%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,670.10	▲	26.10	▲	0.46%		
	Shanghai_Comp	2,953.39	▼	-25.95	▼	-0.87%		
	Taiwan_Weight	9,080.71	▲	96.30	▲	1.07%		
	Nikkei_225___	16,635.77	▲	66.50	▲	0.40%		
	Hang_Seng.__	22,129.14	▲	237.77	▲	1.09%		
	Strait_Times.__	2,892.52	▲	23.83	▲	0.83%		
	NZX_50_Index_	7,356.63	▲	8.50	▲	0.12%		

http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*US stocks slip as falling oil prices punish energy companies*

NEW YORK (AP) – U.S. stocks wobbled and finished mostly lower Monday as the price of oil continued to nosedive thanks to the strong dollar. Energy companies took the biggest losses as U.S. crude hovered around $40 a barrel, its lowest price in almost four months, and materials companies also traded lower.

Every oil, gas and pipeline company on the Standard & Poor’s 500 finished lower as a slump in the price of oil and other fuels extended into a third week. The losses for energy and mining, chemical and building companies canceled out gains for technology and health care companies. A survey showed U.S. manufacturing continued to grow in July, but did so at a slower pace than the month before. That, too, is linked to strength in the dollar.

“Manufacturing and oil have moved in lockstep for the better part of five years,” said Steve Chiavarone, associated portfolio manager for Federated Investors.

The Dow Jones industrial average fell 27.73 points, or 0.2 percent, to 18,404.51. The S&P 500 lost 2.76 points, or 0.1 percent, to 2,170.84. The Nasdaq composite gained 22.06 points, or 0.4 percent, to 5,184.20. The Nasdaq rose last week while the other major indexes fell. The Dow and S&P 500 set all-time highs recently and the Nasdaq is within 1 percent of the record it set in July 2015.

A survey by the Institute for Supply Management said U.S. factories expanded for the fifth month in a row, although its survey reading was lower in July than it was in June and factory employment decreased. A survey of manufacturing in Europe showed a similar result, and two surveys showed manufacturing activity in China was relatively weak in July.

The dollar has been gaining strength in over the last few years, and while it appeared to level off recently, it appears to be picking up again because investors are realizing the Federal Reserve may raise interest rates later this year. Chiavarone said that’s starting to hurt oil prices and slow down U.S. manufacturing. When the dollar gets stronger, oil falls because it’s priced in dollars.

Benchmark U.S. crude lost $1.54, or 3.7 percent, to $40.06 a barrel in New York, while Brent crude, which is used to price international oils, gave up $1.39, or 3.2 percent, to $42.14 a barrel in London. The price of oil has fallen 13 percent in a little more than two weeks and during the day it traded below $40 a barrel for the first time since April 8. Exxon Mobil fell $3.09, or 3.5 percent, to $86.85, its biggest loss since January. Chevron shed $3.37, or 3.3 percent, to $99.11.

Ionis Pharmaceuticals rose after it said a drug designed to treat spinal muscular atrophy in infants worked in a late-stage clinical study. It also said drugmaker Biogen exercised an option to develop the drug globally and will pay Ionis $75 million. Biogen plans to start seeking marketing approval for the drug, nusinersen, in the next few months. Ionis surged $8.82, or 30.2 percent, to $38.01 and Biogen gained $11.90, or 4.1 percent, to $301.83, more than any other S&P 500 stock.

Those moves helped pull health care stocks higher. Technology and consumer stocks also gained ground, and the S&P 500 consumer company and tech indexes reached annual highs. Netflix rose $3.12, or 3.4 percent, to $94.37 and Apple added $1.84, or 1.8 percent, to $106.05.

The dollar edged up to 102.35 yen from 102.03 yen. The euro fell to $1.1169 from $1.1179.

Bond prices fell and the yield on the 10-year U.S. Treasury note rose to 1.52 percent from 1.45 percent, reversing a slide in bond yields on Friday. That’s also a sign more investors are expecting higher interest rates.

Tesla agreed to buy SolarCity for $2.6 billion in stock. More than a month ago it offered to buy the company for about $2.5 billion, and investors had hoped for a bigger offer. SolarCity has 45 days to seek better offers. Tesla CEO Elon Musk owns more than 20 percent of both companies, and SolarCity is run by his cousin Lyndon Rive. The deal won’t go through unless it’s approved by a majority of shareholders other than Musk.

SolarCity also cut its guidance Monday. Its stock fell $1.98, or 7.4 percent, to $24.72 and Tesla Motors lost $4.78, or 2 percent, to $230.01.

Caesars Entertainment said it agreed to sell its social and mobile games business to a Chinese consortium for $4.4 billion. Its stock advanced 46 cents, or 6.7 percent, to $7.36.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-90.74	points or ▼	-0.49%	on	Tuesday, August 2, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,313.77	▼	-90.74	▼	-0.49%		
	Nasdaq____	5,137.73	▼	-46.46	▼	-0.90%		
	S&P_500___	2,157.03	▼	-13.81	▼	-0.64%		
	30_Yr_Bond____	2.29	▲	0.05	▲	2.37%		

NYSE Volume	 3,835,661,750 	 	 	 	 	  		 
Nasdaq Volume	 1,968,713,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,645.40	▼	-48.55	▼	-0.73%		
	DAX_____	10,144.34	▼	-186.18	▼	-1.80%		
	CAC_40__	4,327.99	▼	-81.18	▼	-1.84%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,622.10	▼	-48.00	▼	-0.85%		
	Shanghai_Comp	2,971.28	▲	17.89	▲	0.61%		
	Taiwan_Weight	9,068.76	▼	-11.95	▼	-0.13%		
	Nikkei_225___	16,391.45	▼	-244.32	▼	-1.47%		
	Hang_Seng.__	22,129.14	▲	0.00	▲	0.00%		
	Strait_Times.__	2,856.67	▼	-35.85	▼	-1.24%		
	NZX_50_Index_	7,329.20	▼	-27.43	▼	-0.37%		

http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*US stocks take biggest losses in nearly a month*

NEW YORK (AP) ”” U.S. stocks took their biggest loss in almost a month on Tuesday as investors worried about the health of the U.S. economy and sold shares in retailers and car companies. Machinery companies also fell and the price of oil continued to decline.

Travel companies fell after cruise line operator Royal Caribbean cut its projections for the year, and automakers and suppliers fell after car companies reported lower U.S. sales for the month of July. Banks finished lower as investors worried about the health of banks in Europe. While stocks set all-time records as recently as July 22, they've been trading in a very narrow range for the last few weeks. Since stocks aren't making big gains, investors are sensitive to signs of trouble for the U.S. economy, like weaker sales of autos or last week's disappointing GDP report.

"The market had just rallied... and now it's sort of paused," said Jim Paulsen, the chief investment strategist for Wells Capital Management. "Any weak reports get magnified," he said.

The Dow Jones industrial average fell 90.74 points, or 0.5 percent, to 18,313.77. The Standard & Poor's 500 index lost 13.81 points, or 0.6 percent, to 2,157.03. The Nasdaq composite slid 46.46 points, or 0.9 percent, to 5,137.73. The Dow has fallen for seven days in a row, and Tuesday was the worst day for U.S. stocks since July 5.

Auto companies reported lower U.S. sales in July as a heatwave kept buyers at home. General Motors said its sales fell 2 percent and Ford said sales fell 3 percent. After six straight years of growth, auto sales have reached record levels and are starting to plateau. GM stock shed $1.37, or 4.4 percent, to $29.93 and Ford lost 54 cents, or 4.3 percent, to $11.94. Car retailers CarMax and AutoNation and supplier BorgWarner all fell.

Cruise line operator Royal Caribbean cut its forecasts for the year as the strong dollar continues to hurt its results. That left Royal Caribbean's stock down $4.51, or 6.3 percent, to $67.35. Other consumer companies like retailers Nordstrom and Kohl's and office supply chain Staples all stumbled.

Citigroup retreated 43 cents, or 1 percent, to $42.99 and Morgan Stanley fell 50 cents, or 1.8 percent, to $28. Bank stocks in Europe tumbled for the second day in a row. The losses extended to banks that were effectively given a clean bill of health by the European Banking Authority in last Friday's stress tests.

Industrial and transport companies struggled. Delta said a revenue measurement fell in July and its stock lost $3.09, or 7.8 percent, to $36.39 and American Airlines lost $2.09, or 5.9 percent, to $33.51. Emerson Electric, which makes valves and process controls systems, posted disappointing quarterly results. It gave up $2.75, or 4.9 percent, to $53.03. Tech stocks also lost ground. Apple fell $1.57, or 1.5 percent, to $104.48 and electronic storage company Seagate Technology slid $1.78, or 5.5 percent, to $30.65 despite a solid quarterly report.

Oil prices continued to drop, extending a slide that has lasted more than two weeks. Benchmark U.S. crude fell 55 cents, or 1.4 percent, to $39.51 in New York. U.S. crude hadn't closed under $40 a barrel since April 8. Brent crude, which is used to price international oils, sank 34 cents to $41.80 a barrel London.

Drugstore chain and pharmacy benefits manager CVS Health raised its 2016 forecasts as specialty drug prices kept rising and deals for Omnicare and Target's pharmacy and clinic unit boosted its results. Its stock rose $4.57, or 4.9 percent, to $98.06.

Discovery Communications, the company behind TLC, Animal Planet and other channels, reported profit that was larger than analysts expected as its U.S. business strengthened. Its stock gained $1.65, or 6.7 percent, to $26.42.

In other energy trading, wholesale gasoline rose 1 cent to $1.31 a gallon. Heating oil held steady at $1.26 a gallon. Natural gas fell 4 cents to $2.73 per 1,000 cubic feet.

The price of gold rose $13, or 1 percent, to $1,372.60 an ounce, and silver jumped 20 cents, or 1 percent, to $20.70 an ounce. Copper added 1 cent to $2.21 a pound.

Germany's DAX and France's CAC 40 both lost 1.8 percent. Britain's FTSE 100 fell 0.7 percent. Japan's Nikkei 225 lost 1.5 percent. While the Japanese government approved a new economic stimulus package worth about $275 billion, investors were skeptical the measure will work. South Korea's Kospi lost 0.5 percent to 2,019.70. China's Shanghai Composite Index edged up 0.6 percent.

Bond prices fell. The yield on the 10-year Treasury note edged up to 1.55 percent from 1.52 percent. The dollar fell to 100.88 yen from 102.35 yen and the euro rose to $1.1227 from $1.1169.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	41.23	points or ▲	0.23%	on	Wednesday, August 3, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,355.00	▲	41.23	▲	0.23%		
	Nasdaq____	5,159.74	▲	22.00	▲	0.43%		
	S&P_500___	2,163.79	▲	6.76	▲	0.31%		
	30_Yr_Bond____	2.29	▲	0.01	▲	0.26%		

NYSE Volume	 3,708,448,250 	 	 	 	 	  		 
Nasdaq Volume	 1,813,891,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,634.40	▼	-11.00	▼	-0.17%		
	DAX_____	10,170.21	▲	25.87	▲	0.26%		
	CAC_40__	4,321.08	▼	-6.91	▼	-0.16%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,551.40	▼	-70.70	▼	-1.26%		
	Shanghai_Comp	2,978.46	▲	7.18	▲	0.24%		
	Taiwan_Weight	9,001.71	▼	-67.05	▼	-0.74%		
	Nikkei_225___	16,083.11	▼	-308.34	▼	-1.88%		
	Hang_Seng.__	21,739.12	▼	-390.02	▼	-1.76%		
	Strait_Times.__	2,827.58	▼	-29.09	▼	-1.02%		
	NZX_50_Index_	7,277.40	▼	-51.80	▼	-0.71%		

http://finance.yahoo.com/news/us-stocks-inch-higher-payroll-142555664.html

*US stocks tick higher as energy prices jump*

NEW YORK (AP) ”” U.S. stocks edged higher Wednesday as energy companies climbed with the price of oil. Banks also rose, and investors sold traditionally safe stocks. A survey showed that hiring by private companies continued at a solid but uninspiring clip in July.

Stocks opened lower but gradually recovered to finish at their highest levels of the day. The price of oil jumped after the U.S. government said gasoline stockpiles shrank last week. A survey showed private U.S. business payrolls grew by 179,000 in July as retailers and shipping firms hired more workers. That suggests hiring is still healthy, but that wasn't enough to excite investors.

"So much of this (economic) recovery could be correctly categorized as slow but steady," said Mike Baele, senior portfolio manager with U.S. Bank's private client reserve. "It's all better than last year, for the most part, but it's also all below expectations."

The Dow Jones industrial average broke a seven-day losing streak and added 41.23 points, or 0.2 percent, to 18,355. The Standard & Poor's 500 index gained 6.76 points, or 0.3 percent, to 2,163.79. The Nasdaq composite rose 22 points, or 0.4 percent, to 5,159.74.

The employment survey by payroll processor ADP suggests employers continue to hire new workers and at a faster pace than they were this spring, when hiring slowed sharply. Still, growth has been sluggish this year. The Labor Department will release a report Friday that includes hiring by government as well as private companies. Experts think it will show a gain of about 175,000 jobs.

The price of crude oil jumped after the U.S. government said stockpiles of gasoline shrank by more than 3 million barrels last week. S&P Global Platts said that was far more than expected, and that total oil production also decreased slightly. That helped oil bounce back from the slump that's taken it from $50 a barrel in early June down to around $40.

Benchmark U.S. crude added $1.32, or 3.3 percent, to $40.83 a barrel in New York. Brent crude, which is used to price international oils, rose $1.30, or 3.1 percent, to $43.10 a barrel in London.

That translated into big gains for energy companies. Williams Cos. rose $1.71, or 7.1 percent, to $25.67 and Devon Energy gained $1.88, or 5.2 percent, to $38.

Financial stocks also traded higher. Insurance company American International Group jumped following a strong second-quarter report. AIG stock rose $3.96, or 7.3 percent, to $58.10. Intercontinental Exchange, the owner of the New York Stock Exchange and other stock markets, said it will split its stock 5-for-1 and buy back $1 billion in shares. Its stock rose $14.09, or 5.3 percent, to $278.02.

Earnings reports continued to stream in. Luxury clothing, handbag and accessories company Kate Spade skidded $3.67, or 18.2 percent, to $16.47 after it disclosed weak results and lowered its estimates for the year. Kate Spade said travelers aren't spending as much money at stores that depend on shopping by tourists.

Footwear maker Crocs plunged after its second-quarter sales fell $25 million short of analyst estimates. Crocs projected a bigger shortfall in the current quarter, and the company said it expects overall revenue to shrink this year. Its stock gave up $2.56, or 23.3 percent, to $8.44.

Fitness tracker maker Fitbit rebounded after its quarterly results came in stronger than expected. The stock rose $1.77, or 13.4 percent, to $14.93. The stock is still down 50 percent this year, and a year ago it was trading around $50 per share.

Etsy climbed $1.13, or 8.9 percent, to $13.84. The online crafts marketplace said sales were better than expected and raised its sales and other projections for the year.

Zagg, a mobile device accessory company that bought smartphone charger company Mophie earlier this year, reported an unexpected profit and sales that were stronger than estimates. Among other factors, it said the "Pokemon Go" craze boosted its sales as players needed to recharge their phones more often. The stock rose 67 cents, or 10.5 percent, to $7.03.

The price of gold fell $8.30 to $1,356.10 an ounce. Silver fell 23 cents, or 1.1 percent, to $20.47 an ounce. Copper lost 1 cent to $2.20 a pound.

In other energy trading, wholesale gasoline rose 4 cents to $1.35 a gallon. Heating oil added 3 cents to $1.29 a gallon. Natural gas gained 11 cents to $2.84 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-2.95	points or ▼	-0.02%	on	Thursday, August 4, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,352.05	▼	-2.95	▼	-0.02%		
	Nasdaq____	5,166.25	▲	6.51	▲	0.13%		
	S&P_500___	2,164.25	▲	0.46	▲	0.02%		
	30_Yr_Bond____	2.25	▼	-0.04	▼	-1.66%		

NYSE Volume	 3,504,631,250 	 	 	 	 	  		 
Nasdaq Volume	 1,773,588,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,740.16	▲	105.76	▲	1.59%		
	DAX_____	10,227.86	▲	57.65	▲	0.57%		
	CAC_40__	4,345.63	▲	24.55	▲	0.57%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,563.40	▲	12.00	▲	0.22%		
	Shanghai_Comp	2,982.43	▲	3.97	▲	0.13%		
	Taiwan_Weight	9,024.71	▲	23.00	▲	0.26%		
	Nikkei_225___	16,254.89	▲	171.78	▲	1.07%		
	Hang_Seng.__	21,832.23	▲	93.11	▲	0.43%		
	Strait_Times.__	2,831.96	▲	4.38	▲	0.15%		
	NZX_50_Index_	7,298.08	▲	20.68	▲	0.28%		

http://finance.yahoo.com/news/us-stocks-slightly-lower-missing-141955150.html

*US stocks barely budge ahead of monthly jobs report*

NEW YORK (AP) ”” U.S. stocks wavered Thursday and finished barely higher as an interest rate cut by the Bank of England, a move intended to shore up the British economy, wasn’t enough to get investors out of their recent cautious mode.

Technology companies continued to make the biggest gains, as they’ve done over the last few months. Oil prices rose for the second day in a row, something that hadn’t happened for almost three weeks. Bank stocks fell the most, as the interest rate cut suggests they won’t be able to make as much money on lending. While the Bank of England’s moves sent European stocks higher, investors in U.S. stocks moved carefully as they waited for Friday’s jobs report.

Quincy Krosby, market strategist at Prudential Financial, said investors were playing it safe as they waited for the Labor Department’s July employment report. Hiring in June was stronger than expected, but that followed shockingly weak job growth in May.

“The market has been surprised before and wants to make sure that they’re prepared in either direction,” Krosby said. “To get the market to move higher you need an underpinning of stronger economic growth.”

The Dow Jones industrial average slipped 2.95 points to 18,352.05. The Standard & Poor’s 500 index inched up 0.46 points to 2,164.25. The Nasdaq composite rose 6.51 points, or 0.1 percent, to 5,166.25.

The Bank of England cut interest rates to new lows and unveiled a raft of stimulus measures that include resuming a bond-buying program to pump money into the economy and offering cheap loans to banks. The measures seemed to exceed investors’ expectations, and the bank said the measures could be expanded later if it proves necessary.

The Bank of England is trying to counter the shock of Britain’s vote in late June to leave the European Union. Britain’s central bank hadn’t cut interest rates since the financial crisis.

The pound fell to $1.3116 from $1.3317 on Wednesday. Bank shares also lost ground, as lower interest rates reduce the amount of money they can make from lending.

Technology stocks have done better than the broader market in the spring and summer, and on Thursday they were led higher by companies including Facebook and communications chipmaker Broadcom. Facebook rose $1.85, or 1.5 percent, to $124.36, and Broadcom gained $2.88, or 1.8 percent, to $166.99.

Materials companies made some of the biggest gains after strong earnings from Ball Corp. and Westrock. Ball, which makes metal and plastic packaging for food and drink companies, jumped $8.41, or 12 percent, to $78.51 and packaging company WestRock rose $1.77, or 4.2 percent, to $43.72.

Benchmark U.S. crude rose $1.10, or 2.7 percent, to $41.93 a barrel in New York after a 3-percent climb Wednesday. Brent crude, a benchmark for international oil prices, added $1.19, or 2.8 percent, to $44.29 a barrel in London.

The Labor Department said applications for unemployment aid rose to 269,000 last week, a level close to historical lows and a positive sign for the job market. The number of Americans collecting unemployment benefits has fallen more than 5 percent in last year, but the pace of hiring and economic growth slowed in the first half of 2016.

Mobile payments company Square climbed after it reported strong second-quarter results and raised its projections for the year. The stock rose 88 cents, or 8.4 percent, to $11.32.

Travel website operator TripAdvisor reported lower revenue growth and profit margins in the second quarter, disappointing analysts. The company also cited terrorism as among the events that are making it harder to predict how its business will perform in the near future. Its stock lost $5.90, or 8.5 percent, to $63.59.

Theme park operator SeaWorld said its revenue fell in the second quarter as guest numbers from Latin America dropped off amid economic turmoil there and bad weather. Its stock gave up $1.96, or 13.2 percent, to $12.88.

Callaway Golf jumped after sporting goods giant Nike surprised Wall Street by saying it will stop making golf equipment like clubs, golf balls and bags. Nike said it will focus on apparel and shoes instead. Callaway climbed 42 cents, or 4 percent, to $11.

In other energy trading, wholesale gasoline rose 2 cents to $1.37 a gallon. Heating oil added 4 cents to $1.33 a gallon. Natural gas fell 1 cent to $2.83 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	191.48	points or ▲	1.04%	on	Friday, August 5, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,543.53	▲	191.48	▲	1.04%		
	Nasdaq____	5,221.12	▲	54.87	▲	1.06%		
	S&P_500___	2,182.87	▲	18.62	▲	0.86%		
	30_Yr_Bond____	2.31	▲	0.06	▲	2.44%		

NYSE Volume	 3,611,481,250 	 	 	 	 	  		 
Nasdaq Volume	 1,865,460,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,793.47	▲	53.31	▲	0.79%		
	DAX_____	10,367.21	▲	139.35	▲	1.36%		
	CAC_40__	4,410.55	▲	64.92	▲	1.49%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,585.60	▲	22.20	▲	0.40%		
	Shanghai_Comp	2,976.70	▼	-5.73	▼	-0.19%		
	Taiwan_Weight	9,092.12	▲	67.41	▲	0.75%		
	Nikkei_225___	16,254.45	▼	-0.44	▲	0.00%		
	Hang_Seng.__	22,146.09	▲	313.86	▲	1.44%		
	Strait_Times.__	2,828.17	▼	-3.79	▼	-0.13%		
	NZX_50_Index_	7,308.42	▲	10.34	▲	0.14%		

http://finance.yahoo.com/news/us-stocks-jump-strong-jobs-144517936.html

*US stocks rise to record highs after strong jobs report*

NEW YORK (AP) — U.S. stocks jumped to record highs Friday after a strong jobs report for the month of July gave investors more confidence that the economy is still growing. Financial and technology stocks soared and investors sold the safe assets they have favored for most of this year.

The Labor Department said U.S. employers added 255,000 jobs in July, far more than investors expected and the second straight month of strong gains after shaky reports this spring. Stocks made their biggest gain in almost a month. Banks traded higher as investors anticipated higher interest rates and bigger profits on mortgages and other loans. The Nasdaq composite closed at a record high as tech stocks continued to climb. Consumer companies also made big gains. Investors sold bonds, precious metals, and phone and utility companies, safe investments that soared earlier this year as investors worried about the health of the economy.

"It looks like the economy is improving, it looks like corporate earnings are on the upswing," said Sam Stovall, U.S. equity strategist for S&P Capital IQ. That marks a change from earlier this year, he said, when investors worried the U.S. would fall into a recession and tech companies would suffer as businesses cut spending. But tech stocks have come back to lead the market higher over the last few months.

The Dow Jones industrial average rose 191.48 points, or 1 percent, to 18,543.53. The Standard & Poor's 500 index climbed 18.62 points, or 0.9 percent, to 2,182.87. The Nasdaq advanced 54.87 points, or 1.1 percent, to 5,221.12.

The strong jobs report suggests that Britain's vote to leave the European Union in late June didn't have much effect on hiring plans for U.S. companies. The unemployment rate remained at 4.9 percent and hourly pay continued to rise. The hiring spree follows an even larger surge in June and represents a turnaround from weak job growth in the first half of this year, including disappointing job gains in April and May.

Banks rose the most, as higher interest rates boost their profits on lending. Bank of America rose 57 cents, or 3.9 percent, to $15.05 and Citigroup added $1.88, or 4.3 percent, to $45.72.

Kate Warne, an investment strategist for Edward Jones, said the report reassured investors but won't vanquish their fears entirely.

"With an election where both candidates are likely to talk about how badly the economy is doing and how disappointing growth has been, investors as a whole are more anxious than the job picture would suggest," she said.

The Federal Reserve has been saying for months that it intends to raise interest rates if the economy's strength warrants it. July's report provides more evidence the economy is doing well, boosting the chances that interest rates will go up. But Warne said investor views on the economy and the Fed will keep fluctuating.

"When the Fed indicates that they're data dependent, that means investors are going to be data dependent as well," she said.

Bond prices fell and the yield on the 10-year U.S. Treasury note jumped to 1.59 percent from 1.50 percent.

Kraft Heinz, the company behind Oscar Mayer bologna, Jell-O pudding and Velveeta cheese, also traded higher after it reported a larger profit than analysts expected. Its stock picked up $3.25, or 3.8 percent, to $88.79.

After Bristol-Myers Squibb said one of its cancer drugs failed in a clinical trial, its stock suffered its biggest slump since 2000. Meanwhile rival drugmaker Merck soared by the most in seven years. Bristol-Myers sank $12.04, or 16 percent, to $63.28 after saying its drug Opdivo did not halt progression of non-small cell lung cancer in the study.

Merck makes a drug called Keytruda that also stimulates patients' immune systems to fight lung cancer. The company, which took in $533 million from Keytruda this year, rose $6.02, or 10.4 percent, to $63.86. Merck was the largest gainer among S&P 500 stocks, and Bristol-Myers Squibb took the largest loss.

Security software maker FireEye tumbled after it reported weak sales, cut its forecasts and announced job cuts. Its stock plunged $2.02, or 12.1 percent, to $14.73. Rival software firm Symantec disclosed a larger profit and better sales than expected in its fiscal first quarter, and its full-year profit forecast was stronger than expected. Its stock climbed 86 cents, or 4.1 percent, to $21.89.

7181


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-14.24	points or ▼	-0.08%	on	Monday, August 8, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,529.29	▼	-14.24	▼	-0.08%		
	Nasdaq____	5,213.14	▼	-7.98	▼	-0.15%		
	S&P_500___	2,180.89	▼	-1.98	▼	-0.09%		
	30_Yr_Bond____	2.30	▼	-0.01	▼	-0.48%		

NYSE Volume	 3,273,731,000 	 	 	 	 	  		 
Nasdaq Volume	 1,552,465,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,809.13	▲	15.66	▲	0.23%		
	DAX_____	10,432.36	▲	65.15	▲	0.63%		
	CAC_40__	4,415.46	▲	4.91	▲	0.11%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,625.70	▲	40.10	▲	0.72%		
	Shanghai_Comp	3,004.28	▲	27.58	▲	0.93%		
	Taiwan_Weight	9,150.26	▲	58.14	▲	0.64%		
	Nikkei_225___	16,650.57	▲	396.12	▲	2.44%		
	Hang_Seng.__	22,494.76	▲	348.67	▲	1.57%		
	Strait_Times.__	2,870.78	▲	42.61	▲	1.51%		
	NZX_50_Index_	7,348.30	▲	39.88	▲	0.55%		

http://staging.hosted.ap.org/dynami...ME&TEMPLATE=DEFAULT&CTIME=2016-08-08-16-58-17

*US stock indexes close slightly lower; oil rises
*
By ALEX VEIGA
AP Business Writer

A mostly listless day of trading left U.S. stock indexes little changed Monday, hovering just below the record highs they set late last week.

Drug company and consumer-focused stocks weighed on the market, while energy companies surged, getting a lift from a pickup in crude oil prices.

The slight pullback came as investors took advantage of the milestones reached Friday by the Standard & Poor's 500 index and Nasdaq composite to pocket some gains. Strong U.S. jobs data left traders feeling more confident in the economy heading into this week.

"It's a little bit of profit-taking," said JJ Kinahan, chief strategist at TD Ameritrade. "We're coming off a good employment number and we know the consumer's been strong."

The Dow Jones industrial average slipped 14.24 points, or 0.1 percent, to 18,529.29. The S&P 500 index dipped 1.98 points, or 0.1 percent, to 2,180.89. The Nasdaq shed 7.98 points, or 0.2 percent, to 5,213.14.

The stock market hit record highs on Friday after the Labor Department said U.S. employers added 255,000 jobs in July - far more than investors expected. The hiring spree, which followed an even bigger surge in June, gave investors more confidence that the economy is still growing.

The major stock indexes appeared headed for another day of gains early on, as markets in Asia and Europe shrugged off new data showing China's exports and imports declined again last month. A report indicating industrial production in Germany grew at a better-than-expected rate in June helped lift markets overseas.

U.S. markets initially wavered between small gains and losses, but ultimately remained slightly down the rest of the day.

Two drugmakers weighed on the market early on.

Shares in Bristol-Myers Squibb were hammered after plunging on Friday following news that the drugmaker's cancer treatment Opdivo failed in a study aimed at extending its usage for lung cancer patients. The stock lost $2.98, or 4.7 percent, to $60.30.

Meanwhile, Allergan slid 2.2 percent after the Botox-maker's second-quarter revenue fell short of Wall Street's forecasts. The stock lost $5.54 to $248.31.

A pickup in oil prices drove several oil and natural gas companies higher.

Marathon Oil added 38 cents, or 2.7 percent, to $14.25, while Tesoro rose $2.76, or 3.7 percent, to $77.47. Chesapeake Energy gained 12 cents, or 2.5 percent, to $5.01.

Benchmark U.S. crude rose $1.22, or 2.9 percent, to close at $43.02 per barrel in New York. Brent crude, used to price international oils, gained $1.12, or 2.5 percent, to close at $45.39 per barrel in London.

Investors also had their eye on some corporate deal news.

Wal-Mart Stores slipped 0.6 percent after the retail giant agreed to buy fast-growing online retail newcomer Jet.com for $3 billion in cash and another $300 million in stock. The deal underscores how serious Wal-Mart is about challenging online leader Amazon. Shares in Wal-Mart shed 42 cents to $73.34.

Mattress Firm vaulted more than twofold after the mattress retailer agreed to be acquired by furniture seller Steinhoff International in a deal valued at $3.8 billion, including debt. The stock gained $34.01 to $63.75.

Investors should get more insight into the health of the economy at the end of this week, when the government reports July's retail sales figures.

"That's probably the most important data point this week," said Quincy Krosby, market strategist at Prudential Financial. "We're looking for a strong retail report that again confirms that the U.S. consumer is strong and doing their job of helping the economy."

Major stock indexes in Europe eked out gains.

Germany's DAX rose 0.6 percent, while France's CAC 40 gained 0.1 percent. Britain's FTSE 100 index added 0.2 percent.

Earlier, markets in Asia moved mostly higher despite the discouraging economic data out of China. Hong Kong's Hang Seng gained 1.6 percent, while the Shanghai Composite Index rose 0.9 percent. Tokyo's Nikkei 225 surged 2.4 percent. Sydney's S&P-ASX 200 added 0.4 percent, while Seoul's Kospi rose 0.9 percent. India's Sensex added 0.2 percent. Benchmarks in Taiwan, New Zealand and Thailand also rose, while Singapore declined.

In other energy trading, wholesale gasoline slipped a penny to $1.36 a gallon, while heating oil rose 3 cents to $1.34 a gallon. Natural gas fell 2 cents to $2.75 per 1,000 cubic feet.

In metals trading, the price of gold fell $3.10, or 0.2 percent, to $1,341.30 an ounce. Silver dipped 1 cent, or 0.1 percent, to $19.81 an ounce. Copper added a penny, or 0.5 percent, to $2.17 a pound.

Bond prices were little changed. The yield on the 10-year Treasury note held at 1.59 percent. In currency markets, the dollar rose to 102.47 yen from Friday's 101.75 yen. The euro edged down to $1.1083 from $1.1091.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	3.76	points or ▲	0.02%	on	Tuesday, August 9, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,533.05	▲	3.76	▲	0.02%		
	Nasdaq____	5,225.48	▲	12.34	▲	0.24%		
	S&P_500___	2,181.74	▲	0.85	▲	0.04%		
	30_Yr_Bond____	2.26	▼	-0.04	▼	-1.83%		

NYSE Volume	 3,310,762,250 	 	 	 	 	  		 
Nasdaq Volume	 1,598,625,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,851.30	▲	42.17	▲	0.62%		
	DAX_____	10,692.90	▲	260.54	▲	2.50%		
	CAC_40__	4,468.07	▲	52.61	▲	1.19%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,636.70	▲	11.00	▲	0.20%		
	Shanghai_Comp	3,025.68	▲	21.40	▲	0.71%		
	Taiwan_Weight	9,155.08	▲	4.82	▲	0.05%		
	Nikkei_225___	16,764.97	▲	114.40	▲	0.69%		
	Hang_Seng.__	22,465.61	▼	-29.15	▼	-0.13%		
	Strait_Times.__	2,870.78	▲	42.61	▲	1.51%		
	NZX_50_Index_	7,363.16	▲	14.86	▲	0.20%		

http://finance.yahoo.com/news/us-stocks-edge-higher-early-143618581.html

*US stocks eke out small gains; Nasdaq sets record close*

U.S. stocks recovered from a late-afternoon slide to eke out small gains Tuesday, nudging the Nasdaq composite to its second record close in less than a week.

The three major stock indexes, all of which set new highs last Friday, rebounded from a slight decline on Monday.

Investors focused on the latest batch of company earnings, bidding up health care, telecommunications and consumer-focused companies most.

Energy was the biggest laggard, as crude oil prices closed lower, backtracking after an early rally. Traders also sold off shares in big department store chains after The Gap reported lower sales figures.

With nearly 90 percent of S&P 500 companies having already reported, earnings this quarter have been OK, while revenue growth has not been as bad as expected, said Bob Doll, chief equity strategist at Nuveen Asset Management.

"We're slowly turning the corner and exiting (the) earnings recession," Doll said. "The worst quarter, year-over-year, was the first quarter. While the second quarter wasn't great, it was less bad. The third and fourth quarters will continue that."

The Dow Jones industrial average added 3.76 points, or 0.02 percent, to 18,533.05. The Standard & Poor's 500 index rose 0.85 points, or 0.04 percent, to 2,181.74. The Nasdaq composite index gained 12.34 points, or 0.2 percent, to 5,225.48. That's up less 0.1 percent from its most recent high last Friday.

For the year, the Dow is now up 6.4 percent, while the S&P is up 6.7 percent and the Nasdaq is up 4.4 percent.

The stock market has bounced back in recent weeks, buoyed by strong job growth in the U.S., improved company earnings and persistently low inflation and interest rates.

"That all equals support for the market, but then the reality is where do we go from here?" said Mike Baele, senior portfolio manager with U.S. Bank's Private Client Reserve.

On Tuesday, U.S. stocks got a boost early on from a rally in European markets and in Asia, where most of the indexes closed higher.

Data out of China showing that consumer price growth declined in July for the third month in a row helped fuel expectations among investors that Beijing will pump out more stimulus in a bid to soften the slowdown in the world's second-largest economy.

In the U.S., stock indexes edged higher until about mid-afternoon, when crude oil prices reversed course after an early surge. The indexes wavered between small gains and losses the rest of the day before they turned higher in the final minutes of trading.

Traders bid up shares in several companies that posted strong quarterly results.

Endo International vaulted 21.8 percent a day after the medical device maker reported that it returned to profit in the second quarter. The Dublin-based company's shares gained $3.97 to $22.16.

Valeant Pharmaceuticals surged 25.4 percent after the Canadian drugmaker reaffirmed its earnings outlook for the year, despite reporting a wider second-quarter loss. The company also said it is undergoing a restructuring. The stock added $5.71 to $28.16.

Chemicals company Chemours and solar energy seller Vivint Solar also rose after posting better-than-expected earnings. Chemours added 99 cents, or 10.6 percent, to $10.30. Vivint gained 30 cents, or 9.4 percent, to $3.49.

Retailers didn't fare as well.

Gap sank 6.3 percent after reporting lower sales in the second quarter and in July. The stock dropped $1.61 to $24.01. Kohl's also fell, shedding $1.67, or 4.2 percent, to $37.70. Target slid $2.39, or 3.2 percent, to $72.61.

Home furnishing store Wayfair slumped 19.6 percent after posting a wider-than-expected loss in the second quarter. The stock slid $9.45 to $38.80.

Investors shrugged off a Labor Department report indicating that American workers' productivity unexpectedly fell in the second quarter.

An early rally in U.S. crude oil prices evaporated. Benchmark U.S. crude fell 25 cents, or 0.6 percent, to close at $42.77 per barrel in New York. Brent crude, used to price international oils, slid 41 cents, or 0.9 percent, to close at $44.98 per barrel in London.

The slide in oil weighed on several oil and gas companies. NRG Energy fell 69 cents, or 5.1 percent, to $12.83, while Southwestern Energy shed 51 cents, or 3.6 percent, to $13.61. Chesapeake Energy also declined, losing 20 cents, or 4 percent, to $4.81.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-37.39	points or ▼	-0.20%	on	Wednesday, August 10, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,495.66	▼	-37.39	▼	-0.20%		
	Nasdaq____	5,204.58	▼	-20.90	▼	-0.40%		
	S&P_500___	2,175.49	▼	-6.25	▼	-0.29%		
	30_Yr_Bond____	2.23	▼	-0.03	▼	-1.33%		

NYSE Volume	 3,223,991,250 	 	 	 	 	  		 
Nasdaq Volume	 1,593,226,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,866.42	▲	15.12	▲	0.22%		
	DAX_____	10,650.89	▼	-42.01	▼	-0.39%		
	CAC_40__	4,452.01	▼	-16.06	▼	-0.36%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,628.20	▼	-8.50	▼	-0.15%		
	Shanghai_Comp	3,018.75	▼	-6.93	▼	-0.23%		
	Taiwan_Weight	9,200.42	▲	45.34	▲	0.50%		
	Nikkei_225___	16,735.12	▼	-29.85	▼	-0.18%		
	Hang_Seng.__	22,492.43	▲	26.82	▲	0.12%		
	Strait_Times.__	2,875.57	▲	4.79	▲	0.17%		
	NZX_50_Index_	7,349.61	▼	-13.55	▼	-0.18%		

http://hosted2.ap.org/APDEFAULT/f70...l Markets/id-dbdf62e7488249518845562ae589051b

*US stocks close modestly lower as oil slumps*
By ALEX VEIGA, AP Business Writer 

A sharp sell-off in energy companies pulled U.S. stock indexes modestly lower Wednesday, wiping out small gains from the day before.

Another slide in crude oil prices weighed on the energy sector. Banking, health care and technology companies also declined, while consumer-focused stocks and phone companies posted gains.

Investors mostly focused on company earnings from retailers, restaurant chains and other companies.

"We're still down year-over-year for the quarter, but there's a growing conviction that the headwinds from the energy bust and strong dollar are increasingly fading," said David Lefkowitz, senior equity strategist at UBS Wealth Management Americas.

The Dow Jones industrial average fell 37.39 points, or 0.2 percent, to 18,495.66. The Standard & Poor's 500 index shed 6.25 points, or 0.3 percent, to 2,175.49. The Nasdaq composite index lost 20.90 points, or 0.4 percent, to 5,204.58.

In the absence of major economic news, in what is a seasonally slow period for the markets, investors have been monitoring company earnings for clues about how the second half of the year is shaping up for corporate America.

A strong jobs report last Friday boosted investors' confidence in the U.S. economy. Traders are looking ahead to Friday, when the government delivers its latest monthly retail sales figures.

Most companies have already delivered their quarterly report cards, and earnings and revenue have been relatively good. Some 90 percent of the companies in the S&P 500 index have already reported second-quarter results, and roughly 65 percent posted earnings that beat Wall Street's expectations, according to S&P Global Market Intelligence.

Even so, earnings overall are expected to be down 2.1 percent, dragged down by the energy sector, which has been struggling with a steep drop in oil prices.

A report showing a bigger-than-expected increase in U.S. oil stockpiles last week weighed on the price of crude, reversing an early gain.

Benchmark U.S. crude fell $1.06, or 2.5 percent, to close at $41.71 per barrel in New York. Brent crude, used to price international oils, slid 93 cents, or 2.1 percent, to close at $44.05 per barrel in London.

Several companies reported disappointing quarterly results or outlooks on Wednesday.

Michael Kors slid 2.8 percent after the clothing company forecast weaker sales for the current quarter and lowered its outlook for sales at established stores. The stock fell $1.40 to $48.71.

Perrigo sank 9.6 percent after the pharmaceuticals company cut its guidance for the year, citing growing competition and falling prescription drug prices. The stock lost $9.09 to $86.

Traders sought shade from SunPower after the solar products and service company tumbled 30.2 percent. The company said its power plant business is struggling amid growing competition and project delays. The stock lost $4.47 to $10.31.

Investors bid up shares in several companies that reported strong earnings.

Yelp jumped 12.8 percent after the online business review portal reported strong quarterly results. The stock added $4.19 to $36.83.

Clothing company Ralph Lauren surged 8.5 percent after it too delivered strong quarterly results. The stock gained $8.07 to $103.14.

"The earnings beats that we're getting are, to a large extent, being driven by better revenue performance," Lefkowitz said.

Markets overseas were mixed.

In Europe, Germany's DAX and France's CAC 40 each dipped 0.4 percent. Britain's FTSE 100 rose 0.2 percent.

Earlier, Japan's Nikkei 225 lost 0.2 percent despite a report showing private sector machinery orders rebounded in June from May. Hong Kong's Hang Seng edged up 0.1 percent, while Australia's S&P ASX 200 fell 0.2 percent. South Korea's Kospi added less than 0.1 percent. Stocks in Taiwan and Singapore also were higher, but markets in China, Indonesia and New Zealand declined.

In other energy trading, wholesale gasoline slipped 4 cents to $1.30 a gallon, while heating oil lost a penny to $1.32 a gallon. Natural gas fell 5 cents, or 2.1 percent, to $2.56 per 1,000 cubic feet.

Among metals, the price of gold rose $5.20, or 0.4 percent, to $1,351.90 an ounce. Silver added 32 cents, or 1.6 percent, to $20.17 an ounce. Copper gained 2 cents, or 1 percent, to $2.17 a pound.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.51 percent from 1.55 late Tuesday. In currency markets, the dollar weakened to 101.29 yen from 101.90 on Tuesday, while the euro strengthened to $1.1175 from $1.1107.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	117.86	points or ▲	0.64%	on	Thursday, August 11, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,613.52	▲	117.86	▲	0.64%		
	Nasdaq____	5,228.40	▲	23.81	▲	0.46%		
	S&P_500___	2,185.79	▲	10.30	▲	0.47%		
	30_Yr_Bond____	2.29	▲	0.06	▲	2.60%		

NYSE Volume	 3,410,792,750 	 	 	 	 	  		 
Nasdaq Volume	 1,456,057,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,914.71	▲	48.29	▲	0.70%		
	DAX_____	10,742.84	▲	91.95	▲	0.86%		
	CAC_40__	4,503.95	▲	51.94	▲	1.17%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,599.40	▼	-28.80	▼	-0.51%		
	Shanghai_Comp	3,002.64	▼	-16.11	▼	-0.53%		
	Taiwan_Weight	9,131.83	▼	-68.59	▼	-0.75%		
	Nikkei_225___	16,735.12	▼	-29.85	▼	-0.18%	HOLIDAY	
	Hang_Seng.__	22,580.55	▲	88.12	▲	0.39%		
	Strait_Times.__	2,869.82	▼	-5.75	▼	-0.20%		
	NZX_50_Index_	7,353.83	▲	4.22	▲	0.06%		

http://finance.yahoo.com/news/asian-shares-mixed-us-losses-064843308.html

*US stock indexes close at record highs; oil up*

Strong gains by energy companies and retailers helped nudge each of the major U.S. stocks indexes to a record high close Thursday, erasing mild losses from the day before.

The Standard & Poor's 500 index and Nasdaq composite had previously hit new highs last Friday. The Nasdaq also notched a record close on Tuesday.

Investors welcomed some better-than-expected quarterly results from Macy's and Kohl's, which spurred gains for several other big retail chains.

Energy stocks led the rally, getting a boost from a surge in oil prices. An industry report released Thursday projected a more even balance in the supply and demand for oil this year.

"It's been such an oversupplied market for a long period of time, to get that supply-demand closer to being in balance, or to be in balance, is a huge driver," said David Chalupnik, head of equities for Nuveen Asset Management. "That should at least support the commodity price."

The Dow Jones industrial average climbed 117.86 points, or 0.6 percent, to 18,613.52. The average is now up about 0.1 percent from its last record set July 20.

The S&P 500 index added 10.30 points, or 0.5 percent, to 2,185.79. That's a gain of 0.13 percent from its previous high last Friday. The Nasdaq composite index gained 23.81 points, or 0.5 percent, to 5,228.40. It edged up 0.1 percent from its previous high.

The latest market milestones reflect investors' improved confidence in the U.S. economy of late. Strong job growth, more stable oil prices and a crop of better-than-expected company earnings have helped lift stocks in recent weeks.

Still, overall earnings for companies in the S&P 500 are expected to be down 2.2 percent for the second quarter, according to S&P Global Market Intelligence.

"We're still looking at negative earnings growth, albeit improved, and negative revenue growth," said Tim Dreiling, regional investment director for U.S. Bank's Private Client Reserve. "In order for stocks to continue to make new highs and continue to grind higher, we're going to need to see some improvement in revenues and see some improvement in earnings in the second half of 2016."

The major stock indexes got off to a strong start early Thursday, bouncing back from slight losses a day earlier.

Traders bid up oil prices in response to the International Energy Agency's latest forecast. The agency said it expects that supply and demand for oil will be more in balance the rest of this year. It also projected that global oil demand won't grow as much as it previously expected next year, citing a weaker global economy.

Benchmark U.S. crude rose $1.78, or 4.3 percent, to close at $43.49 a barrel in New York. Brent crude, used to price international oils, gained $1.99, or 4.3 percent, to close at $46.04 in London.

Several oil and gas companies got a boost from the rise in crude prices. Devon Energy added $1.74, or 4.4 percent, to $41.31, while Chesapeake Energy rose 23 cents, or 4.8 percent, to $5.03.

Retailers also posted strong gains after Macy's and Kohl's reported quarterly results that beat Wall Street's expectations despite continued competition from online outlets like Amazon.com. Macy's also said it plans to close about 100 stores next year as it tries to become more nimble in a competitive market.

Macy's rose $5.81, or 17.1 percent, to $39.81, while Kohl's jumped $6.15, or 16.2 percent, to $44.19.

Investors also bought up shares in several other retail chains. Nordtsrom gained $3.33, or 7.5 percent, to $47.56, while J.C. Penney rose 79 cents, or 8.6 percent, to $9.94. The chain is scheduled to release earnings early Friday.

The retailers' earnings fueled optimism for the government's latest monthly tally of retail sales Friday.

Not all companies had favorable quarterly results.

Hamburger chain Shake Shack slumped 6.2 percent after it said sales at older locations slowed down in the latest quarter. The stock shed $2.53 to $38.34.

The major stock indexes in Europe closed higher.

Germany's DAX gained 0.9 percent, while France's CAC 40 added 1.2 percent. Britain's FTSE 100 rose 0.7 percent.

In Asia, Hong Kong's Hang Seng index closed 0.4 percent higher, while China's Shanghai Composite slipped 0.5 percent. South Korea's KOSPI edged up 0.2 percent. Japan's stock exchange was closed for a holiday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-37.05	points or ▼	-0.20%	on	Friday, August 12, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,576.47	▼	-37.05	▼	-0.20%		
	Nasdaq____	5,232.89	▲	4.50	▲	0.09%		
	S&P_500___	2,184.05	▼	-1.74	▼	-0.08%		
	30_Yr_Bond____	2.24	▼	-0.05	▼	-2.19%		

NYSE Volume	 2,990,760,500 	 	 	 	 	  		 
Nasdaq Volume	 1,453,337,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,916.02	▲	1.31	▲	0.02%		
	DAX_____	10,713.43	▼	-29.41	▼	-0.27%		
	CAC_40__	4,500.19	▼	-3.76	▼	-0.08%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,626.30	▲	26.90	▲	0.48%		
	Shanghai_Comp	3,050.67	▲	48.03	▲	1.60%		
	Taiwan_Weight	9,150.39	▲	18.56	▲	0.20%		
	Nikkei_225___	16,919.92	▲	184.80	▲	1.10%		
	Hang_Seng.__	22,766.91	▲	186.36	▲	0.83%		
	Strait_Times.__	2,867.40	▼	-2.42	▼	-0.08%		
	NZX_50_Index_	7,363.10	▲	9.27	▲	0.13%		

http://finance.yahoo.com/news/asian-shares-climb-tracking-gains-us-stocks-oil-072821623.html

U*S stock indexes edge mostly lower; oil rises*

Wall Street capped a record-setting week with a day of mostly listless trading Friday that left the three major U.S. stock indexes essentially flat.

The Dow Jones industrial average and the Standard & Poor's 500 index closed slightly lower. The Nasdaq composite eked out a tiny gain, giving the tech-heavy index its fourth record-high close in a week.

Investors mostly focused on the latest batch of company earnings from retailers and other companies, as well as new data indicating that U.S. retail sales in July were more sluggish than expected.

Materials companies fell the most. Energy stocks led the gainers as crude oil prices rose again.

While the retail sales data may have dimmed some traders' views on the economy, most of the selling was likely a reflection of some investors locking in profits while the market remains near its all-time high, said JJ Kinahan, TD Ameritrade's chief strategist.

"It's a summer Friday on a week that we were higher," Kinahan said. "It's more of a 'Why take unnecessary risks? Take some profits, go home happy.'"

The Dow fell 37.05 points, or 0.2 percent, to 18,576.47. The S&P 500 index lost 1.74 points, or 0.1 percent, to 2,184.05. The declines pulled both indexes slightly below their most-recent all-time highs set Thursday.

The Nasdaq bucked the trend, adding 4.49 points, or 0.1 percent, to 5,232.89. The Nasdaq also closed at a record high last Friday, Tuesday and Thursday. It's now up 11 percent over the past seven weeks, the longest winning streak for the index in more than four years.

So far this year, the Dow is up 6.6 percent, the S&PO 500 has gained 6.9 percent and the Nasdaq is up 4.5 percent.

Strong job growth, more stable oil prices and a crop of better-than-expected company earnings have helped lift stocks in recent weeks to record territory.

This week, investors had their eye on the health of retailers. They welcomed the latest quarterly snapshots for Macy's, Kohl's and Nordstrom, sending their shares higher earlier in the week.

Some of that continued Friday as traders cheered results from Nordstrom, J.C. Penney and Dillard's.

Nordtsrom surged 8 percent a day after the department store chain reported earnings that beat Wall Street's expectations. The company also raised its profit guidance for the year. The stock gained $3.82 to $51.38.

J.C. Penney said a pickup in sales helped trim the chain's second-quarter loss from a year earlier. The stock added 61 cents, or 6.1 percent, to $10.55. Dillard's rose 3.4 percent after the retailer posted a second-quarter profit that was larger than analysts expected. Its shares gained $2.26 to $68.67.

Even so, the government's latest retail sales figures appeared to dampen on some of that optimism.

The Commerce Department said that U.S. retail sales held steady in July from the previous month, as Americans spent less at grocery stores, clothing shops, sporting goods and electronics and appliance outlets. Those declines were offset by big increases in auto sales and on online and catalog sales.

Separately, the Labor Department said producer prices posted the biggest drop last month since September, pulled down by tumbling energy, clothing and food prices. Inflation remains modest at both producer and consumer levels.

Despite the downbeat economic data, the market spent much of the day hovering just below its all-time highs.

"It's very understandable that people are not particularly keen to rush into buying at these historically high levels," said Erik Davidson, chief investment officer at Wells Fargo Private Bank. "Add in this economic data that leans to the weaker side and it's not surprising that the market is off a little bit."

Industrial and drilling companies were among the biggest decliners.

Transocean slid the most among stocks in the S&P 500, shedding 47 cents, or 4.5 percent, to $9.90. Steel products manufacturer Nucor fell $1.66, or 3.2 percent, to $50.69, while Alcoa slipped 25 cents, or 2.4 percent, to $10.17.

Oil prices added to recent gains.

Benchmark U.S. crude was rose $1, or 2.3 percent, to close at $44.49 a barrel in New York. Brent crude, used to price international oils, added 93 cents, or 2 percent, to close at $46.97 a barrel in London.

In other energy trading, wholesale gasoline added a penny to $1.37 a gallon, while heating oil rose 2 cents to $1.41 a gallon. Natural gas gained 3 cents to $2.58 per 1,000 cubic feet.

8159


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	59.58	points or ▲	0.32%	on	Monday, August 15, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,636.05	▲	59.58	▲	0.32%		
	Nasdaq____	5,262.02	▲	29.12	▲	0.56%		
	S&P_500___	2,190.15	▲	6.10	▲	0.28%		
	30_Yr_Bond____	2.28	▲	0.04	▲	1.83%		

NYSE Volume	 3,052,156,500 	 	 	 	 	  		 
Nasdaq Volume	 1,482,564,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,941.19	▲	25.17	▲	0.36%		
	DAX_____	10,739.21	▲	25.78	▲	0.24%		
	CAC_40__	4,497.86	▼	-2.33	▼	-0.05%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,633.80	▲	7.50	▲	0.13%		
	Shanghai_Comp	3,125.20	▲	74.53	▲	2.44%		
	Taiwan_Weight	9,148.51	▼	-1.88	▼	-0.02%		
	Nikkei_225___	16,869.56	▼	-50.36	▼	-0.30%		
	Hang_Seng.__	22,932.51	▲	165.60	▲	0.73%		
	Strait_Times.__	2,867.21	▼	-0.19	▼	-0.01%		
	NZX_50_Index_	7,388.35	▲	25.25	▲	0.34%		

http://finance.yahoo.com/news/mining-chemicals-companies-lead-us-143345055.html

*US stocks again rebound as miners and machinery makers rise*

NEW YORK (AP) ”” U.S. stocks closed at a record high Monday behind gains for chemical and machinery companies. Energy companies rose as the price of oil continued its recent recovery.

Makers of chemicals and mining companies made the biggest gains, and machinery companies and banks followed. Investors sold government bonds and utility and phone companies. Those stocks climbed earlier in the year as investors sought safety. Stocks have seesawed between small gains and losses for more than a week as investors consider mixed reports on the health of the economy and a decline in corporate earnings. That hasn't stopped them from setting records, but it's kept investors wary.

"The market has run up in anticipation of better earnings ahead," said Brian Nick, chief investment strategist for TIAA Investments. "If those earnings don't come, we have the Wile E. Coyote moment where we're off the cliff...and we're gonna fall."

The Dow Jones industrial average climbed 59.58 points or 0.3 percent, to 18,636.05. The Standard & Poor's 500 index rose 6.10 points, or 0.3 percent, to 2,190.15. The Nasdaq composite added 29.12 points, or 0.6 percent, to 5,262.02.

Second-quarter earnings are nearly all in the books, with this week's releases from retailers Home Depot, Wal-Mart and Target among the last to appear. Corporate earnings are down once again this quarter and investors don't expect much growth in the third quarter either, but they are starting to expect improvement after that.

U.S. crude jumped $1.25, or 2.8 percent, to $45.74 a barrel in New York. Brent crude, a benchmark used to price international oils, rose $1.38, or 2.9 percent, to $48.35 a barrel in London. After a steep slide for most of June and July, the price of U.S. crude gained 6.4 percent last week.

Drilling rig operator Transocean added 53 cents, or 5.4 percent, to $10.43. National Oilwell Varco picked up $1.04, or 3.1 percent, to $34.85 and ConocoPhillips rose 81 cents, or 2 percent, to $42.18.

Chemicals company LyondellBasell Industries rose $2.16, or 2.9 percent, to $77.49 and mining and energy company Freeport-McMoRan climbed 35 cents, or 3 percent, to $12.17. Aluminum producer Alcoa gained 35 cents, or 3.4 percent, to $10.52.

Utility companies took the largest losses, as Southern Co. declined 86 cents, or 1.6 percent, to $51.49 and Consolidated Edison sank $1.88, or 2.4 percent, to $76.24. Phone companies and household goods makers also slipped.

Real estate investment trust Mid-America Apartment Communities will buy competitor Post Properties for about $3.9 billion in stock. Both companies own large numbers of rental properties, and demand for rentals has boomed in recent years because many people are being priced out of the housing market.

The deal values Post Properties at about $72.53 a share based on Friday's closing prices. The stock rose $5.86, or 9.4 percent, to $68.08 and Mid-America stock lost $5, or 4.9 percent, to $97.15.

Water treatment company Xylem announced a $1.7 billion deal for Sensus, a company that provides smart meters, network technology, and analytics used by water, electric and gas utilities. Xylem stock advanced $1.87, or 3.9 percent, to $50.32.

A survey showed that U.S. homebuilders are feeling more optimistic about the market as prices and sales of new homes rise. The National Association of Home Builders/Wells Fargo builder sentiment index rose from last month.

In June new home sales grew by the fastest pace in eight years, aided by continuing job growth and low mortgage rates. Toll Brothers gained 89 cents, or 3.2 percent, to $28.86 and Lennar added 55 cents, or 1.2 percent, to $47.30.

In other energy trading, wholesale gasoline rose 3 cents to $1.40 a gallon. Heating oil gained 4 cents to $1.45 a gallon. Natural gas held steady at $2.59 per 1,000 cubic feet.

The price of gold rose $4.30 to $1,347.50 an ounce. Silver advanced 14 cents to $19.85 an ounce. Copper picked up 1 cent to $2.15 a pound.

The dollar fell to 101.25 yen from 101.27 yen and the euro rose to $1.1183 from $1.1164.

Japan's economy grew at a lower-than-forecast 0.2 percent pace in the April-June quarter, as private demand and exports remained weak. That could push the Bank of Japan to take additional steps to stimulate the national economy. The bank approved a new stimulus package earlier this month, but that wasn't enough to please investors.

Germany's DAX was up 0.2 percent and the CAC 40 of France dipped less than 0.1 percent. Britain's FTSE 100 gained 0.4 percent. Japan's Nikkei 225 edged 0.3 percent and Hong Kong's Hang Seng index rose 0.7 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-84.03	points or ▼	-0.45%	on	Tuesday, August 16, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,552.02	▼	-84.03	▼	-0.45%		
	Nasdaq____	5,227.11	▼	-34.90	▼	-0.66%		
	S&P_500___	2,178.15	▼	-12.00	▼	-0.55%		
	30_Yr_Bond____	2.30	▲	0.02	▲	0.97%		

NYSE Volume	 3,183,755,250 	 	 	 	 	  		 
Nasdaq Volume	 1,635,634,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,893.92	▼	-47.27	▼	-0.68%		
	DAX_____	10,676.65	▼	-62.56	▼	-0.58%		
	CAC_40__	4,460.44	▼	-37.42	▼	-0.83%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,625.70	▼	-8.10	▼	-0.14%		
	Shanghai_Comp	3,110.04	▼	-15.16	▼	-0.49%		
	Taiwan_Weight	9,110.36	▼	-38.15	▼	-0.42%		
	Nikkei_225___	16,596.51	▼	-273.05	▼	-1.62%		
	Hang_Seng.__	22,910.84	▼	-21.67	▼	-0.09%		
	Strait_Times.__	2,858.80	▼	-8.41	▼	-0.29%		
	NZX_50_Index_	7,310.67	▼	-77.68	▼	-1.05%		

http://www.readingeagle.com/ap/arti...-investors-sell-safe-picks&template=mobileart

*US stocks slip from records as investors sell safe picks*
By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks slid Tuesday as investors continued to sell phone company and utility shares. Energy companies rose with the price of oil, but stocks have been locked in an up-and-down pattern for more than a week.

As the dollar weakened, the price of oil rose for the fourth day in a row to sustain a recent recovery and metals prices also rose. The Labor Department said inflation remains low, as prices paid by consumers were unchanged in July. Most stocks were down, but for the second day in a row, the biggest losses went to traditionally safe investments like telecom and utility companies. Bond prices also inched lower.

The dollar has been very strong over the last few years compared to other currencies. Early this year it looked like the dollar would stay at those elevated levels because the Federal Reserve was raising interest rates while other global central banks were cutting them to stimulate their economies. John Cannally, chief economic strategist for LPL Financial, said the Fed has changed course. By leaving interest rates where they are, it has allowed the currency to weaken a bit, aiding U.S. manufacturing and energy companies and other exporters.

"The Fed is using the dollar as sort of a tool of monetary policy," he said. "The Fed wants to give China and emerging markets time to heal and get their houses in order."

The Dow Jones industrial average lost 84.03 points, or 0.5 percent, to 18,552.02. The Standard & Poor's 500 index slid 12 points, or 0.5 percent, to 2,178.15. The Nasdaq composite fell 34.90 points, or 0.7 percent, to 5,227.11. Stocks have been setting records recently, but it's been more than a week since they rose for two days in a row. The market hasn't made many big moves over the last month.

The Labor Department said prices paid by consumers were unchanged in July as gas and other energy prices kept inflation down. Core inflation, which leaves out food and fuel prices, inched up just 0.1 percent for the month. Overall, inflation is up just 0.8 percent over the last year. That's far below the 2-percent target set by the Federal Reserve, and investors concluded that means the Fed is less likely to raise interest rates soon.

The dollar fell to 100.25 yen from 101.25 yen. The euro rose to $1.1277 from $1.1183. The weakening dollar boosted energy and metals prices Tuesday. Benchmark U.S. crude added 84 cents, or 1.8 percent, to $46.58 per barrel in New York. Brent crude, a benchmark used to price international oils, rose 88 cents, or 1.8 percent, to $49.23 a barrel in London. Oil prices climbed last week after steep losses in June and July.

That aided companies like pipeline operator Kinder Morgan, which rose 48 cents, or 2.3 percent, to $21.78. Apache Corp. added $1.09, or 2.2 percent, to $50.97.

Metals prices also rose. Gold gained $9.40 to $1,456.90 an ounce. Silver added 3 cents to $19.87 an ounce. Copper edged up 2 cents to $2.17 a pound. Bond prices dipped and the yield on the 10-year Treasury note rose to 1.58 percent from 1.56 percent.

Stocks have wavered lately as investors review mixed reports about the U.S. economy as they try to get a sense of its health. On Tuesday the Federal Reserve said U.S. factories cranked out more autos, machinery and chemicals in July, which suggests manufacturers might be recovering, though growth remains little changed from a year ago and manufacturers aren't adding many jobs. Meanwhile the Commerce Department said the pace of home construction grew by the most since February.

Tea maker Hain Celestial Group delayed its quarterly report because of accounting issues and said it doesn't expect to reach its financial projections for the year. The stock tumbled $14.05, or 26.3 percent, to $39.35.

Uniform maker Cintas said it will buy G&K Services, a uniform and facility services maker, for $97.50 a share, or $1.93 billion. G&K Services advanced $14.57, or 17.7 percent, to $96.70 and Cintas stock gained $5.57, or 5.2 percent, to $112.99.

Beauty products maker Coty posted results that surpassed expectations, but said little about its purchase of Procter & Gamble's beauty business, a $15 billion deal expected to close in the next few months. Coty said it's "premature" to comment on how the combined business will do. The stock skidded $1.47, or 4.9 percent, to $28.28.

TJX, the parent of T.J. Maxx, Marshalls and other stores, traded lower after saying higher wages and the strong dollar will hurt its results in the third quarter. Its stock gave up $4.80, or 5.8 percent, to $77.97.

Dick's Sporting Goods announced better-than-expected quarterly results and raised its projections for the year. Its stock jumped $3.87, or 6.1 percent, to $58.76.

In other energy trading, wholesale gasoline rose 2 cents to $1.42 a gallon. Heating oil picked up 1 cent to $1.46 a gallon. Natural gas gained 3 cents to $2.62 per 1,000 cubic feet.

The CAC 40 in France shed 0.8 percent and Britain's FTSE 100 lost 0.7 percent. Germany's DAX fell 0.6 percent. Japan's Nikkei 225 slid 1.6 percent as the yen gained against the U.S. dollar. South Korea's Kospi took a 0.1-percent loss and Hong Kong's Hang Seng index was down 0.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	21.92	points or ▲	0.12%	on	Wednesday, August 17, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,573.94	▲	21.92	▲	0.12%		
	Nasdaq____	5,228.66	▲	1.55	▲	0.03%		
	S&P_500___	2,182.22	▲	4.07	▲	0.19%		
	30_Yr_Bond____	2.27	▼	-0.02	▼	-1.09%		

NYSE Volume	 3,377,591,750 	 	 	 	 	  		 
Nasdaq Volume	 1,681,078,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,859.15	▼	-34.77	▼	-0.50%		
	DAX_____	10,538.13	▼	-138.52	▼	-1.30%		
	CAC_40__	4,417.84	▼	-42.60	▼	-0.96%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,628.10	▲	2.40	▲	0.04%		
	Shanghai_Comp	3,109.55	▼	-0.48	▼	-0.02%		
	Taiwan_Weight	9,117.70	▲	7.34	▲	0.08%		
	Nikkei_225___	16,745.64	▲	149.13	▲	0.90%		
	Hang_Seng.__	22,799.78	▼	-111.06	▼	-0.48%		
	Strait_Times.__	2,843.35	▼	-15.45	▼	-0.54%		
	NZX_50_Index_	7,355.02	▲	44.35	▲	0.61%		

http://finance.yahoo.com/news/us-stocks-earnings-hit-retailers-161613106.html

*US stocks get modest lift from Federal Reserve comments*

NEW YORK (AP) -- U.S. stocks closed barely higher Wednesday as big gains for utilities balanced out losses for retailers like Lowe's, Target and Staples.

Stocks fell in morning trading as a recent slump in phone company and utility stocks continued. But the indexes reversed directions after noon as those stocks turned higher, as did banks and household goods makers. Investors scrutinized the minutes from the Federal Reserve's late July meeting and found no suggestion the central bank's in any hurry to raise interest rates.

Federal Reserve officials felt near-term risks to the U.S. economy have diminished as job growth improved in June and July. It said another boost in interest rates might be warranted before long, but investors doubt that will happen in September and they're not sure if it will happen in the months after that.

"The minutes today were not any kind of a surprise," said Scott Wren, senior global equity strategist for the Wells Fargo Investment Institute. "There's probably some relief there."

The Dow Jones industrial average rose 21.92 points, or 0.1 percent, to 18,573.94. The Standard & Poor's 500 index gained 4.07 points, or 0.2 percent, to 2,182.22 after falling as much as 10 points early on. The Nasdaq composite inched up 1.55 points to 5,228.66. That left the market little changed from Tuesday and continued a persistent pattern of small moves for U.S. stocks.

Utility companies made the biggest gains, as low interest rates and bond yields make their big dividend payments more appealing. Dominion Resources jumped $1.97, or 2.6 percent, to $76.65 and Xcel Energy added 69 cents, or 1.7 percent, to $42.33.

Bond prices turned higher and the yield on the 10-year Treasury note fell to 1.55 percent from 1.58 percent. The dollar weakened, falling to 100.19 yen from 100.25 yen. The euro rose to $1.1290 from $1.1277. In recent days the Fed's decision to leave rates unchanged has weakened the dollar, helping exporters.

Consumer companies slumped after weak results and forecasts for some major retailers. Home improvement retailer Lowe's cut its annual profit forecast after it reported a profit that was smaller than analysts expected, and sales at older stores were weak. Those sales are considered an important measurement of retailer performance. Lowe's stock fell $4.60, or 5.6 percent, to $76.88. Target also lowered its profit projections as it deals with stiff competition. Its stock lost $4.85, or 6.4 percent, to $70.63.

Office supply retailer Staples fell after disappointing analysts with its forecasts, which included further sales declines. Its stock fell 66 cents, or 7.1 percent, to $8.67. Rival Office Depot lost 26 cents, or 6.9 percent, to $3.52.

Urban Outfitters jumped after it disclosed solid second-quarter results. The company said sales at older stores improved, surprising analysts who expected a decline. The stock gained $4.71, or 15.4 percent, to $36.05. It's up 58 percent this year, wiping out a steep loss from 2015.

Barnes & Noble tumbled after the book seller said CEO Ronald Boire is leaving after less than a year in the job. The company said its board determined that Boire was not a good fit. Chairman and former CEO Leonard Riggio, who was scheduled to retire next month, will stay with the company as it seeks a new CEO.

Barnes & Noble has been cutting costs and closing stores as it copes with people doing more of their shopping online and at discount stores. Its stock sank $1.47, or 11 percent, to $11.91.

Oil prices climbed after the Energy Information Administration said U.S. crude oil inventories shrank by 2.5 million barrels last week and gas stockpiles decreased by 2.7 million barrels. The declines were larger than expected, which is generally good for oil prices. Benchmark U.S. crude added 21 cents to $46.79 a barrel in New York. Brent crude, used to price international oils, inched up 62 cents, or 1.3 percent, to $49.85 a barrel in London.

In other energy trading, wholesale gasoline added 3 cents to $1.45 a gallon and heating oil rose 3 cents to $1.49 a gallon. Natural gas held steady a $2.62 per 1,000 cubic feet.

The price of gold fell $8.10 to $1,348.80 an ounce. Silver fell 23 cents, or 1.1 percent, to $19.65 an ounce. Copper gave up 2 cents to $2.15 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	23.76	points or ▲	0.13%	on	Thursday, August 18, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,597.70	▲	23.76	▲	0.13%		
	Nasdaq____	5,240.15	▲	11.49	▲	0.22%		
	S&P_500___	2,187.02	▲	4.80	▲	0.22%		
	30_Yr_Bond____	2.26	▼	-0.01	▼	-0.62%		

NYSE Volume	 3,259,865,250 	 	 	 	 	  		 
Nasdaq Volume	 1,602,493,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,868.96	▲	9.81	▲	0.14%		
	DAX_____	10,603.03	▲	65.36	▲	0.62%		
	CAC_40__	4,437.06	▲	19.38	▲	0.44%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,607.30	▼	-20.80	▼	-0.37%		
	Shanghai_Comp	3,104.11	▼	-5.44	▼	-0.17%		
	Taiwan_Weight	9,122.50	▲	4.80	▲	0.05%		
	Nikkei_225___	16,486.01	▼	-259.63	▼	-1.55%		
	Hang_Seng.__	23,023.16	▲	223.38	▲	0.98%		
	Strait_Times.__	2,836.98	▼	-6.37	▼	-0.22%		
	NZX_50_Index_	7,385.12	▲	30.10	▲	0.41%		

http://finance.yahoo.com/news/us-stocks-wobble-energy-companies-141841613.html

*US stocks edge higher as energy prices rise; dollar weakens*

NEW YORK (AP) -- U.S. stocks again ticked higher Thursday as the continuing rebound in oil prices gave energy companies a lift. The gains were modest, however, as investors have been avoiding big moves. The dollar weakened further, and compared to the yen it's at its lowest in almost three years.

Stocks wobbled in the early part of the day, but energy companies were a standout as the price of U.S. oil reached its highest level since the beginning of July. The weakening dollar aided exporters including technology and chemical companies. The market turned higher in the afternoon. Phone company stocks continued to slump, as did financial firms. Stocks haven't moved much this week and haven't made many big moves over the last month.

Ryan Detrick, senior market strategist for LPL Financial, said the U.S. market tends to be calm in August and trading volume is usually low. Lower trading volume means surprising events can cause big swings for stocks, but so far, it's made this month the opposite of January and early February, when stocks tumbled and the markets were rattled.

"We had record volatility to start the year and these things do tend to revert," he said. "It's amazing how quickly things change."

The Dow Jones industrial average picked up 23.76 points, or 0.1 percent, to 18,597.70. The Standard & Poor's 500 added 4.80 points, or 0.2 percent, to 2,187.02. The Nasdaq composite rose 11.49 points, or 0.2 percent, to 5,240.15.

Benchmark U.S. crude gained $1.43, or 3.1 percent, to $48.22 a barrel in New York. Brent crude, used to price international oils, rose $1.04, or 2.1 percent, to $50.89 a barrel in London. That gave energy companies a lift, and Marathon Oil rose 98 cents, or 6.2 percent, to $16.68 while Devon Energy gained $1.45, or 3.3 percent, to $44.76.

Oil prices have rallied over the last two weeks, but they have essentially remained between $40 and $50 a barrel for the last four months. After oil traded as low as $26.21 a barrel in February, that relative stability has boosted energy company stocks.

The dollar fell to 99.98 yen, its lowest level since October 2013. The euro rose to $1.1354 from $1.1290. The dollar was worth about 120 yen at the start of the year and it's been gradually weakening. A weaker dollar is good for U.S. exporters like chemical, mining and technology companies.

On Wednesday the Federal Reserve released minutes from its latest meeting, which investors took as new confirmation the Fed is in no hurry to raise interest rates again.

Detrick cautioned that the yen sometimes gains strength when investors are nervous

Wal-Mart Stores climbed $1.37, or 1.9 percent, to $74.30. The world's largest retailer raised its annual estimates after reporting strong results for the second quarter. The company is revamping stores and has won back some customers. Wal-Mart, which has lost sales to sites like Amazon as people make more purchases online, is also buying online retailer Jet.com for $3 billion as it fights for more online shoppers.

Internet gear maker Cisco Systems reported unimpressive quarterly results and said it will lay off 5,500 employees, or about 7 percent of its staff. The company had already cut about 10,000 jobs over the last few years and it joins companies like Microsoft, Intel and HP in eliminating jobs and overhauling its product lines. Its stock lost 24 cents to $30.48.

Prison operating companies nosedived after the Justice Department said it will end or sharply reduce contracts with the companies, saying privately-run prisons have more safety and security problems than prisons run by the government. The number of people in federal prison has fallen in recent years, but 22,000 people were in private prisons at the end of last year. That's about 12 percent of all federal inmates.

Corrections Corp. stock plunged $9.65, or 35.5 percent, to $17.57 and Geo Group tumbled $12.78, or 39.6 percent, to $19.51. Both stocks hit their lowest levels in years. The two companies each get about half their revenue from contracts with the federal government. However the new policy doesn't cover private detention facilities used by Immigration and Customs Enforcement, and both companies operate those facilities.

Harley-Davidson stock skidded after the U.S. government said the motorcycle company made racing tuners that caused some bikes to emit higher-than-allowed amounts of some types of air pollutants. The shares dropped as much as 8 percent, although they recovered some of those losses after the Justice Department said Harley-Davidson agreed to settle the case by buying back and destroying the devices and paying $15 million. The stock lost 94 cents, or 1.7 percent, to $53.54.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-45.13	points or ▼	-0.24%	on	Friday, August 19, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,552.57	▼	-45.13	▼	-0.24%		
	Nasdaq____	5,238.38	▼	-1.77	▼	-0.03%		
	S&P_500___	2,183.87	▼	-3.15	▼	-0.14%		
	30_Yr_Bond____	2.29	▲	0.03	▲	1.15%		

NYSE Volume	 3,073,266,500 	 	 	 	 	  		 
Nasdaq Volume	 1,576,853,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,858.95	▼	-10.01	▼	-0.15%		
	DAX_____	10,544.36	▼	-58.67	▼	-0.55%		
	CAC_40__	4,400.52	▼	-36.54	▼	-0.82%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,625.40	▲	18.10	▲	0.32%		
	Shanghai_Comp	3,108.10	▲	3.99	▲	0.13%		
	Taiwan_Weight	9,034.27	▼	-88.23	▼	-0.97%		
	Nikkei_225___	16,545.82	▲	59.81	▲	0.36%		
	Hang_Seng.__	22,937.22	▼	-85.94	▼	-0.37%		
	Strait_Times.__	2,844.02	▲	7.04	▲	0.25%		
	NZX_50_Index_	7,405.25	▲	20.13	▲	0.27%		

http://finance.yahoo.com/news/us-stocks-skid-market-heads-142725185.html

*US stocks take small losses as energy companies slide*

NEW YORK (AP) — U.S. stocks took small losses Friday to end a quiet week of trading. Energy companies fell as a rally in oil prices faded and investors continue to sell the safe assets they favored earlier this year. Technology and materials companies made small gains.

Stocks were lower all day. While U.S. oil prices rose for the seventh day in a row, investors don't appear to expect further gains and they sold energy company shares. Bond prices fell and yields climbed. The Dow Jones industrial average dropped more than 100 points in early trading, but those losses shrank as technology companies and chemicals makers added to the big gains they've made in recent months.

While stocks haven't made many big moves this summer and the Standard & Poor's 500 index was flat this week, there are signs investors feel comfortable enough to take bigger risks. Karyn Cavanaugh, senior market strategist for Voya Investment Strategies, said investors recognize that the Federal Reserve and other central banks are keeping the stock market stable. So investors are putting more money into energy, materials and tech stocks instead of the companies they turned to during the market turmoil at the start of this year.

"Central banks continue to step in to absorb the risk," Cavanaugh said. "(Investors) don't need the utilities and telecoms anymore."

The Dow shed 45.13 points, or 0.2 percent, to 18,552.57. The S&P 500 fell 3.15 points, or 0.1 percent, to 2,183.87. The Nasdaq composite lost 1.77 points, or less than 0.1 percent, to 5,238.38. The Nasdaq rose for the eighth week in a row, although the gain was just 0.1 percent.

U.S. crude rose 30 cents to $48.52 a barrel in New York. U.S. oil has climbed 17 percent in its seven-day streak, but its prices has stayed between $40 and $50 a barrel for about four months, and with an enormous glut of oil on the market, it may not rise much further. Brent crude, used to price international oils, lost 1 cent to $50.88 a barrel in London.

Chevron lost $1.23, or 1.2 percent, to $102.32 and Exxon Mobil retreated $1.11, or 1.2 percent, to $87.80.

Technology companies made small gains. Applied Materials advanced after the manufacturer of chipmaking equipment disclosed new orders and a contract backlog that were much stronger than analysts had forecast. Its stock rose $1.96, or 7.1 percent, to $29.64. Security software maker Symantec added 61 cents, or 2.6 percent, to $23.72. Apple, which is trading around four-month highs, gained 28 cents to $109.36.

Bond prices are down and yields are up after hitting record lows a month ago. On Friday the yield on the 10-year Treasury note jumped to 1.58 percent from 1.54 percent. The dollar also recovered some of its recent losses and rose to 100.24 yen. The currency finished at 99.98 yen Thursday, its first time below 100 yen since October 2013. The euro dipped to $1.1324 from $1.1354.

Retailers did fairly well, and that limited the losses for consumer companies. Some of the largest gains went to Foot Locker, which reported stronger results than analysts expected. The shoe store climbed $6.81, or 11 percent, to $68.49. Nike also gained $1.69, or 3 percent, to $58.90. Discount retailer Ross Stores raised its profit projections its strong second-quarter report, and its stock rose $2.18, or 3.5 percent, to $65.06.

However beauty products maker Estee Lauder skidded after its profit forecast for the current quarter and the new fiscal year fell far short of estimates. Its stock lost $3.37, or 3.5 percent, to $91.73.

Emerson Electric agreed to buy buying Pentair's valves and controls business for $3.15 billion. Pentair acquired that business from Tyco International in 2012 as part of a larger deal between those companies and said it had $1.8 billion in revenue in 2015. Emerson stock fell $1.69, or 3.1 percent, to $52.98 and Pentair gave up 74 cents, or 1.1 percent, to $65.79.

Farm equipment maker Deere powered to its biggest gain since the end of 2008 after it posted strong results and raised its outlook for the year. The company has been cutting costs as farmers struggle with smaller profits on corn and soybeans thanks to large harvests. Deere stock added $10.38, or 13.5 percent, to $87.32.

In other energy trading, wholesale gasoline rose 2 cents to $1.51 a gallon. Heating oil rose 4 cents to $1.53 a gallon. Natural gas fell 9 cents to $2.58 per 1,000 cubic feet.

8629


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-23.15	points or ▼	-0.12%	on	Monday, August 22, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,529.42	▼	-23.15	▼	-0.12%		
	Nasdaq____	5,244.60	▲	6.22	▲	0.12%		
	S&P_500___	2,182.64	▼	-1.23	▼	-0.06%		
	30_Yr_Bond____	2.24	▼	-0.05	▼	-2.14%		

NYSE Volume	 2,767,042,750 	 	 	 	 	  		 
Nasdaq Volume	 1,504,529,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,828.54	▼	-30.41	▼	-0.44%		
	DAX_____	10,494.35	▼	-50.01	▼	-0.47%		
	CAC_40__	4,389.94	▼	-10.58	▼	-0.24%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,612.30	▼	-13.10	▼	-0.23%		
	Shanghai_Comp	3,084.81	▼	-23.30	▼	-0.75%		
	Taiwan_Weight	8,981.81	▼	-52.46	▼	-0.58%		
	Nikkei_225___	16,598.19	▲	52.37	▲	0.32%		
	Hang_Seng.__	22,997.91	▲	60.69	▲	0.26%		
	Strait_Times.__	2,841.19	▼	-2.83	▼	-0.10%		
	NZX_50_Index_	7,462.16	▲	56.91	▲	0.77%		

http://finance.yahoo.com/news/stocks-fall-early-trading-oil-140534701.html

*Stocks end mostly lower in quiet trade; oil prices decline*

NEW YORK (AP) ”” Stocks closed slightly lower in quiet trading Monday after drifting most of the day between gains and losses. Energy companies fell along with the price of oil while biotechnology and drug companies rose after Pfizer announced it was buying a cancer drug maker.

Trading remained subdued, as it has been for most of the month, with many investors remaining on the sidelines until after Labor Day.

The Dow Jones industrial average lost 23.15 points, or 0.1 percent, to 18,529.42. The Standard & Poor's 500 index lost 1.23 points, or 0.1 percent, to 2,182.64 and the Nasdaq composite rose 6.22 points, or 0.1 percent, to 5,244.60.

Cancer drug maker Medivation jumped $13.26, or 20 percent, to $80.42 after pharmaceutical giant Pfizer announced it would buy the company for $14 billion, or $81.50 a share. Pfizer is buying Medivation for its heavily used prostate cancer drug Xtandi, which generates roughly $2 billion in sales a year.

The Medivation deal pushed other biotechnology stocks higher as well, helping the Nasdaq do better than the S&P 500 and the Dow. Regeneron Pharmaceuticals, Vertex Pharmaceuticals and Alexion Pharmaceuticals all rose 3 percent or more.

Monday's trading was extremely light. Roughly 2.73 billion shares changed hands on the New York Stock Exchange, the lightest trading volume so far this year. It is typical for trading to slow in August, with many traders and investors finishing up their summer vacation plans.

Investors have had little to go on for the last couple of weeks. Second-quarter earnings reports are effectively over, and the next major piece of economic news does not come until Friday, when Federal Reserve Chair Janet Yellen will speak at the Fed's annual conference in Jackson Hole, Wyoming.

While investors do not expect the central bank to raise interest rates at its September meeting, there's always the possibility that it will, as well as the increasing likelihood of a rate increase once the presidential election is finished.

"We are in the calm before it gets much busier after Labor Day," said David Lebovitz, a global market strategist with JP Morgan Funds.

Oil prices fell sharply. U.S. benchmark crude lost $1.47 to close at $47.05 a barrel and Brent crude, used to price oil internationally, declined $1.72 to close at $49.16 a barrel. The drop in energy prices dragged down energy stocks, which lost roughly 1 percent, more than the rest of the market.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 1.54 percent from 1.58 percent late Friday.

In other energy commodity trading, heating oil fell 3 cents to $1.49 a gallon and wholesale gasoline fell 3 cents to $1.48 a gallon. Natural gas rose 9.5 cents to $2.679 per thousand cubic feet.

Gold fell $2.80 to $1,343.40 an ounce, silver fell 45 cents to $19 an ounce and copper fell 3 cents to $2.15 a pound.

The dollar rose to 100.29 Japanese yen from 100.24 on Friday. It rose against the euro to $1.1323 from $1.1324.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	17.88	points or ▲	0.10%	on	Tuesday, August 23, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,547.30	▲	17.88	▲	0.10%		
	Nasdaq____	5,260.08	▲	15.47	▲	0.30%		
	S&P_500___	2,186.90	▲	4.26	▲	0.20%		
	30_Yr_Bond____	2.24	▲	0.00	▲	0.00%		

NYSE Volume	 3,028,999,750 	 	 	 	 	  		 
Nasdaq Volume	 1,501,843,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,868.51	▲	39.97	▲	0.59%		
	DAX_____	10,592.88	▲	98.53	▲	0.94%		
	CAC_40__	4,421.45	▲	31.51	▲	0.72%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,647.10	▲	34.80	▲	0.62%		
	Shanghai_Comp	3,089.71	▲	4.90	▲	0.16%		
	Taiwan_Weight	9,030.93	▲	49.12	▲	0.55%		
	Nikkei_225___	16,497.36	▼	-100.83	▼	-0.61%		
	Hang_Seng.__	22,998.93	▲	1.02	▲	0.00%		
	Strait_Times.__	2,850.43	▲	9.24	▲	0.33%		
	NZX_50_Index_	7,467.33	▲	5.17	▲	0.07%		

http://finance.yahoo.com/news/markets-rise-following-upbeat-european-141139015.html

*Modest but steady gains for US indexes; homebuilders soar*

NEW YORK (AP) ”” Stocks posted modest gains on Tuesday, bringing indexes nearly back to the record levels they reached last week. Homebuilders rose sharply following a big jump in sales of new homes last month, and Best Buy soared after the electronics retailer reported a surge in profit as online sales increased.

The Dow Jones industrial average rose 17.88 points, or 0.1 percent, to 18,547.30. The Standard & Poor's 500 index rose 4.26 points, or 0.2 percent, to 2,186.90 and the Nasdaq composite rose 15.47 points, or 0.3 percent, to 5,260.08.

It was another quiet day in trading on Wall Street. Volume on the New York Stock Exchange was again below 3 billion shares, marking one of the slowest days of the year. Monday was the slowest day so far in 2016. Investors have had little in the way of economic data or company news to react to for the last couple of weeks, and many traders are on vacation in the ending days of summer.

This week's biggest event is Friday, when Federal Reserve Chair Janet Yellen is due to speak at an annual conference of central bankers in Jackson Hole, Wyoming. The Fed is not expected to raise interest rates at its September meeting, but Yellen's comments will be dissected for clues on the likelihood and timing of a future hike.

Investors did respond positively to a survey from the 19-country eurozone that showed business activity expanded in August at a modest but steady pace. It was a sign that companies were not overly worried about Britain's decision to leave the European Union. The IHS Markit survey of purchasing managers also reached a seven-month high.

Germany's DAX closed up 0.9 percent, France's CAC-40 rose 0.7 percent and the U.K.'s FTSE 100 rose 0.6 percent.

Stocks also benefited from news that Americans stepped up their purchases of new homes in July at the fastest pace in nearly nine years. Luxury homebuilder Toll Brothers rose nearly 9 percent, while PulteGroup and Lennar rose roughly 3 percent each.

In individual companies, Best Buy jumped $6.43, or 20 percent, to $39.23 after the retailer reported results that beat analysts' estimates. Notably, Best Buy said sales in stores open at least a year rose in the latest quarter, a sign that the company's turnaround strategy is working in the face of strong competition from Amazon and other online retailers.

Drugmaker Mylan fell $2.28, or 5 percent, to $45.62, the second-biggest drop in the S&P 500, following growing outrage over the skyrocketing price increases for Mylan's EpiPen product, which is used treat people who may be suffering from a potentially life-threatening allergic reaction.

Republicans and Democrats in Congress have started asking questions about Mylan's price increases. The EpiPen, invented in the 1970s, used to be roughly $100 for two pens only a few years ago, but now costs roughly $600 for the same two pens.

Analysts at Citi said in a note Tuesday that the political pressure is likely to continue to weigh on Mylan's stock, referencing the pressure Valeant Pharmaceuticals faced over the past year when it also had to respond to political pressure over its drug pricing tactics.

U.S. government bond prices were little changed. The yield on the benchmark 10-year Treasury note held steady at 1.55 percent. The dollar slipped to 100.22 yen from 100.29 yen late Monday. The euro fell to $1.1305 from $1.1323.

Crude oil closed up 69 cents to $48.10 a barrel while Brent crude, used to price oil internationally, rose 80 cents to $49.96.

In other energy trading, heating oil rose 1.5 cents to $1.502 a gallon, wholesale gasoline rose 1.5 cents to $1.499 a gallon and natural gas rose 8 cents to $2.761 per thousand cubic feet.

In metals, gold rose $2.70 to $1,346.10 an ounce, silver rose 7 cents to $19.07 an ounce and copper fell 3 cents to $2.126 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-65.82	points or ▼	-0.35%	on	Wednesday, August 24, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,481.48	▼	-65.82	▼	-0.35%		
	Nasdaq____	5,217.69	▼	-42.38	▼	-0.81%		
	S&P_500___	2,175.44	▼	-11.46	▼	-0.52%		
	30_Yr_Bond____	2.24	▲	0.01	▲	0.31%		

NYSE Volume	 3,141,600,000 	 	 	 	 	  		 
Nasdaq Volume	 1,658,850,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,831.98	▼	-36.53	▼	-0.53%		
	DAX_____	10,622.97	▲	30.09	▲	0.28%		
	CAC_40__	4,435.47	▲	14.02	▲	0.32%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,653.60	▲	6.50	▲	0.12%		
	Shanghai_Comp	3,085.88	▼	-3.83	▼	-0.12%		
	Taiwan_Weight	9,017.38	▼	-13.55	▼	-0.15%		
	Nikkei_225___	16,597.30	▲	99.94	▲	0.61%		
	Hang_Seng.__	22,820.78	▼	-178.15	▼	-0.77%		
	Strait_Times.__	2,869.57	▲	19.14	▲	0.67%		
	NZX_50_Index_	7,410.30	▼	-57.03	▼	-0.76%		

http://local12.com/health/health-updates/stocks-end-lower-as-health-care-companies-decline

*Stocks end lower as health-care companies decline*
By Ken Sweet/ AP Business Writer

NEW YORK (AP) - Stocks closed lower on Wednesday, led by sharp declines in health-care companies as outrage over the steep price hikes for Mylan's EpiPens escalates.

Trading remains quiet overall with many investors still on vacation. It was another below-average day of trading volume on the New York Stock Exchange.

The Dow Jones industrial average lost 65.82 points, or 0.4 percent, to 18,481.48. The Standard & Poor's 500 index lost 11.46 points, or 0.5 percent, to 2,175.44 and the Nasdaq composite lost 42.38 points, or 0.8 percent, to 5,217.69.

Major indexes were down slightly for most of the day, and the losses deepened as a late-day sell-off in drugmakers dragged the broader market lower. Mylan dropped $2.47, or 5.5 percent, to $43.15 after falling nearly 5 percent the day before.

Outrage over Mylan's price increases for its EpiPen product continues to grow. Presidential candidate Hillary Clinton issued a statement Wednesday calling Mylan's price increases "outrageous" and called for the company to reduce its prices for EpiPens immediately. She is the latest in a bipartisan group of politicians who have raised concerns about Mylan's pricing.

EpiPens are medical devices designed to deliver adrenaline to a patient suffering from a potentially fatal allergic reaction. Allergy sufferers often have to carry more than one because they always need to be close by in case of an emergency. Mylan, which bought the rights to the product in 2007, has raised the price from roughly $100 for two pens to roughly $600.

Other biotechnology and drugmaker stocks also fell as investors anticipated that pressure over drug pricing practices could spread to other drugmakers. Vertex Pharmaceuticals fell $4.28, or 4.2 percent, to $96.71 and Allergan fell $9.94, or 3.9 percent, to $243.77.

Metals and mining stocks also took hefty losses following disappointing results from the European mining giant Glencore. The company reported a loss and continues to sell off billions in assets to pay down its massive debt load.

Freeport-McMoRan slumped 90 cents, or 7.5 percent, to $11.08 and Newmont Mining lost $3.30, or 7.5 percent, to $39.85.

Stocks remain stuck in a narrow range, as they have over the last two weeks. Many traders are on vacation and with no economic data and very few company earnings being released, investors are hesitant to make big moves.

"Barring some unforeseen event, this will continue to be the pattern until after Labor Day," said J.J. Kinahan, chief strategist at TD Ameritrade.

Investors are awaiting a speech Friday by Fed Chair Janet Yellen at an annual conference of central bankers in Jackson Hole, Wyoming. The Fed is expected to hold off on raising interest rates at its September meeting, but Yellen's comments will be dissected for clues on the likelihood and timing of a future hike.

"The market has basically come to a standstill waiting for her," Kinahan said.

Benchmark crude oil fell $1.33 to $46.77 a barrel while Brent crude, which is used to price oil internationally, fell 91 cents to $49.05 a barrel. The drop in crude prices did not have a negative effect on energy stocks, which fell less than the rest of the market.

In other energy commodities, heating oil fell less than 1 cent to $1.496 a gallon, wholesale gasoline rose 1 cent to $1.51 a gallon and natural gas rose 3.5 cents to $2.796 per thousand cubic feet.

The yield on the benchmark U.S. 10-year Treasury note rose to 1.56 percent from 1.55 percent the day before. The dollar rose to 100.49 yen from 100.22 yen, while the euro fell to $1.1261 from $1.1305.

Precious and industrial metals futures closed lower. Gold lost $16.40 to $1,329.70 an ounce, silver fell 38 cents to $18.69 an ounce and copper gave up 4 cents to close at $2.09 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-33.07	points or ▼	-0.18%	on	Thursday, August 25, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,448.41	▼	-33.07	▼	-0.18%		
	Nasdaq____	5,212.20	▼	-5.49	▼	-0.11%		
	S&P_500___	2,172.47	▼	-2.97	▼	-0.14%		
	30_Yr_Bond____	2.26	▲	0.02	▲	0.94%		

NYSE Volume	 2,950,506,250 	 	 	 	 	  		 
Nasdaq Volume	 1,461,841,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,816.90	▼	-18.88	▼	-0.28%		
	DAX_____	10,529.59	▼	-93.38	▼	-0.88%		
	CAC_40__	4,406.25	▼	-29.22	▼	-0.66%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,631.40	▼	-22.20	▼	-0.39%		
	Shanghai_Comp	3,068.33	▼	-17.55	▼	-0.57%		
	Taiwan_Weight	9,115.47	▲	98.09	▲	1.09%		
	Nikkei_225___	16,555.95	▼	-41.35	▼	-0.25%		
	Hang_Seng.__	22,826.87	▲	6.09	▲	0.03%		
	Strait_Times.__	2,876.93	▲	7.36	▲	0.26%		
	NZX_50_Index_	7,427.28	▲	16.98	▲	0.23%		

http://finance.yahoo.com/news/stocks-drift-between-small-gains-143541351.html

*Health care sector pulls stock market lower again*

NEW YORK (AP) ”” Stocks fell in light trading for a second day on Thursday as investors sifted through a mix of earnings reports.

The major indexes wavered between small gains and losses in the morning, then moved lower in the afternoon as investors dumped health care stocks. Disappointing earnings from a few retailers helped push down stocks of companies that rely on consumer spending.

The losses were modest, and both the Standard & Poor's 500 index and Dow Jones industrial average remain close to their record highs hit last week. Many investors are holding back from big bets now that the bulk of earnings reports are out and many traders are still on vacation. Only 2.9 billion shares traded hand on the New York Stock Exchange, a very low level.

"We're in an information vacuum," said Joseph Tanious, senior investment strategist at Bessemer Trust.

The Dow Jones industrial average fell 33.07 points, or 0.2 percent, to 18,448.41. The S&P 500 gave up 2.97 points, or 0.1 percent, to 2,172.47. The Nasdaq composite edged down 5.49 points, or 0.1 percent, to 5,212.20.

Biotech stocks stumbled again. Celgene and Regeneron Pharmaceuticals each fell more than 1 percent as investors worry about a backlash in Washington against increases in prices that politicians say amount to price gouging. Mylan, which has been under fire for steep increases in its EpiPen anti-allergy medicine, fell 0.7 percent.

Tiffany & Co. rose the most in the S&P 500 after the luxury retailer reported a slight increase in fiscal second-quarter profits that beat analyst estimates. It rose $4.41, or 6.4 percent, to $73.28.

Results from other companies were disappointing.

The biggest loser in S&P 500 was Dollar General, which plunged $16.18, or nearly 18 percent, to $75.61 after reporting earnings and revenue that fell short of forecasts. Signet Jewelers, the second-biggest decliner, fell $12.06, or nearly 13 percent, to $83.44 after its results also missed estimates.

Overall, earnings per share for companies in the S&P 500 are expected to fall 1.8 percent in the second quarter, according to S&P Global Market Intelligence. That would be the fourth quarter in a row of drops, nearly unheard of outside of a recession.

Many analysts expect earnings to surge toward the end of the year, which may explain why stocks are holding near highs. But some experts are not convinced.

"If you look at earnings, they're just not that great," said Phil Blancato, CEO of Ladenburg Thalmann Asset Management. "There isn't enough news to get people to sell and there isn't enough news to get people to buy."

In overseas trading, Germany's DAX dropped 0.9 percent, France's CAC-40 lost 0.7 and Britain's FTSE 100 fell 0.3 percent. Major markets in Asia were mostly unchanged. Japan's Nikkei 225 fell 0.2 percent.

Benchmark U.S. crude oil rose 55 cents to $47.32 a barrel. Brent crude, which is used to price oil internationally, rose 55 cents to $49.60 a barrel. Wholesale gasoline was little changed at $1.51 a gallon, heating oil rose 1 cent to $1.51 a gallon and natural gas rose 5 cents to $2.85 per 1,000 cubic feet.

U.S. government bond prices slipped. The yield on the 10-year Treasury rose to 1.58 percent. The dollar rose to 100.57 yen from 100.49 yen, while the euro rose to $1.1281 from $1.1261.

The price of gold fell $5.10 to $1,324.60 an ounce, silver fell 7 cents to $18.62 an ounce and copper was little changed at $2.08 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-53.01	points or ▼	-0.29%	on	Friday, August 26, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,395.40	▼	-53.01	▼	-0.29%		
	Nasdaq____	5,218.92	▲	6.71	▲	0.13%		
	S&P_500___	2,169.04	▼	-3.43	▼	-0.16%		
	30_Yr_Bond____	2.30	▲	0.03	▲	1.41%		

NYSE Volume	 3,328,976,500 	 	 	 	 	  		 
Nasdaq Volume	 1,502,397,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,838.05	▲	21.15	▲	0.31%		
	DAX_____	10,587.77	▲	58.18	▲	0.55%		
	CAC_40__	4,441.87	▲	35.26	▲	0.80%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,607.40	▼	-24.00	▼	-0.43%		
	Shanghai_Comp	3,070.31	▲	1.98	▲	0.06%		
	Taiwan_Weight	9,131.72	▲	16.25	▲	0.18%		
	Nikkei_225___	16,360.71	▼	-195.24	▼	-1.18%		
	Hang_Seng.__	22,909.54	▲	94.59	▲	0.41%		
	Strait_Times.__	2,857.65	▼	-19.28	▼	-0.67%		
	NZX_50_Index_	7,391.30	▼	-35.98	▼	-0.48%		

http://finance.yahoo.com/news/stocks-rising-early-trading-following-135947543.html

*Stocks end mostly lower after Yellen speech*

NEW YORK (AP) -- Stocks ended mostly lower on Friday after Federal Reserve officials said the case has strengthened for raising interest rates above the super-low levels that have helped fuel a seven-year bull market.

Major U.S. indexes initially climbed after a speech by Fed Chair Janet Yellen that was bullish on the economy but gave no timetable for future rate increases. Then investors began to have second thoughts, wondering if an increase was possible as early as next month, and buyers turned to sellers.

By the close of trading, seven of the 10 sectors of the Standard and Poor's 500 index had fallen, led by a 2.1 percent drop in utilities. Investors frustrated with low-yielding bonds have flocked to utilities for their steady dividends, but higher rates would make those stocks less attractive.

The S&P 500 slipped 3.43 points, or 0.2 percent, to 2,169.04. The Dow Jones industrial average fell 53.01 points, or 0.3 percent, to 18,395.40. The Nasdaq composite rose 6.71 points, or 0.1 percent, to 5,218.92.

In her speech in Jackson Hole, Wyoming, Yellen noted that the Fed is moving toward raising interest rates in light of a solid job market and an improved outlook for the economy. But she stopped short of signaling when the next rate hike might be.

Stocks climbed as investors perceived her comments as "dovish," meaning a continuation of the easy money policies. Yields on government bonds fell.

But by the end of the day both stocks and bonds had reversed, with the yield on the 10-year Treasury note rising to 1.62 percent from 1.58 percent late Thursday.

Perhaps helping the turn of sentiment were comments on CNBC from Fed Vice Chair Stanley Fischer suggesting the central bank could raise rates twice before year's end, instead of once in December as many investors had been expecting.

Lisa Kopp, senior vice president at U.S. Bank Wealth Management, said she wasn't surprised by the selling given the "jitteriness" in the markets.

"Anything that's not going to be straight-out dovish is going to be disappointing," she said.

Yellen's speech on Friday notwithstanding, not everyone is convinced a rate hike is coming soon.

"She suggests the economy is improving, but the GDP numbers for the past three quarters are closer to 1 percent than three percent," said Bruce Bittles, chief investment strategist at R.W. Baird. "That is very anemic."

A report early in the day from the Commerce Department showed GDP, or gross domestic product, for the second quarter rose by a revised 1.1 percent, slightly lower than initially forecast.

Since exiting the recession in the summer of 2009, the U.S. economy has been growing sluggishly, making it the slowest recovery since World War II.

Among stocks making moves on Friday, Herbalife fell $1.43, or 2.3 percent, to $60.50 after news reports that that Carl Icahn, the company's biggest shareholder and defender, has been trying to unload his stake in the embattled company. After trading closed, Icahn said the reports were wrong and, in fact, he has bought more shares.

Design software company Autodesk jumped $5.17, or 8 percent, to $68.87 after reporting a small profit, beating expectations of a loss.

Earnings per share for companies in the S&P 500 index are expected to fall 1.8 percent in the second quarter, according to S&P Global Market Intelligence. That would be the fourth quarter in a row of drops.

In overseas markets, Britain's FTSE 100 rose 0.3 percent, Germany's DAX gained 0.6 percent and France's CAC 40 climbed 0.8 percent.

In Asia, Japan's Nikkei 225 fell 1.2 percent after consumer prices fell the most in three years in July. Hong Kong's Hang Seng index rose 0.4 percent.

Benchmark U.S. crude oil rose 31 cents to close at $47.64 a barrel. Brent crude, used to price oil internationally, rose 25 cents to close at $49.92 a barrel.

Wholesale gasoline was little changed at $1.52 a gallon, heating oil slipped 1 cent to $1.50 a gallon and natural gas rose 2.5 cents to $2.871 per 1,000 cubic feet.

The dollar rose to 101.86 yen from 100.57 yen the previous day. The euro fell to $1.1183 from $1.1281.

Gold rose $1.30 to $1,325.90 an ounce, silver rose 13 cents to $18.75 an ounce and copper was little changed at $2.08 a pound.

9340


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	107.59	points or ▲	0.58%	on	Monday, August 29, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,502.99	▲	107.59	▲	0.58%		
	Nasdaq____	5,232.33	▲	13.41	▲	0.26%		
	S&P_500___	2,180.38	▲	11.34	▲	0.52%		
	30_Yr_Bond____	2.22	▼	-0.08	▼	-3.48%		

NYSE Volume	 2,644,450,000 	 	 	 	 	  		 
Nasdaq Volume	 1,389,341,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,838.05	▲	21.15	▲	0.31%	*BANK HOLIDAY	*
	DAX_____	10,544.44	▼	-43.33	▼	-0.41%		
	CAC_40__	4,424.25	▼	-17.62	▼	-0.40%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,561.50	▼	-45.90	▼	-0.82%		
	Shanghai_Comp	3,070.03	▼	-0.28	▼	-0.01%		
	Taiwan_Weight	9,110.17	▼	-21.55	▼	-0.24%		
	Nikkei_225___	16,737.49	▲	376.78	▲	2.30%		
	Hang_Seng.__	22,821.34	▼	-88.20	▼	-0.38%		
	Strait_Times.__	2,829.43	▼	-28.22	▼	-0.99%		
	NZX_50_Index_	7,367.26	▼	-24.04	▼	-0.33%		

http://finance.yahoo.com/news/stocks-open-moderately-higher-wall-142009210.html

*Banks lead gains on Wall Street on hopes for higher rates*

NEW YORK (AP) — Banks led the stock market higher Monday as investors anticipate that the Federal Reserve could raise interest rates this year from their historically low levels. That could help banks recover from a long slump by making lending more profitable.

The Dow Jones industrial average rose 107.59 points, or 0.6 percent, to 18,502.99. The Standard & Poor's 500 index climbed 11.34 points, or 0.5 percent, to 2,180.38. The Nasdaq composite edged up 13.41 points, or 0.3 percent, to 5,232.33.

Major U.S. banks posted solid gains as traders bet that the Fed was likely to nudge interest rates higher in December or even at its next policy meeting in September. Federal Reserve Chair Janet Yellen told a conference last week that the case for raising rates was strengthening given improvements in the economy.

Raising interest rates from their rock-bottom levels, where they have been since the 2008 financial crisis, could be a good thing not only for markets but for savers, said Rob Lutts, chief investment officer of Cabot Wealth Management in Salem, Mass.

"We're running out of excuses not to raise interest rates," Lutts said. "We're the wealthiest economy on the planet, and everybody who has a bank account is earning virtually zero on those balances today. There's a lot of spending power that may be released in the economy" if savers earn more on their bank accounts, Lutts said.

Wells Fargo, the nation's largest mortgage lender, rose $1.05, or 2.2 percent, to $49.56 and JPMorgan Chase gained 73 cents, or 1.1 percent, to $66.95. Banks are still one of the worst-performing sectors in the market this year. The financial sector of the S&P 500 has gained just 1.8 percent in 2016 versus a 6.7 percent increase for the broader index.

Herbalife added $2.80, or 4.6 percent, to $63.30 after Icahn said late Friday he had bought an additional 2.3 million shares in the supplements and weight-loss products company, and that he never gave an order to sell his $1 billion stake. A Wall Street Journal report earlier Friday said that the investment bank Jefferies had been looking for buyers for Icahn's position.

Overseas, France's CAC 40 lost 0.4 percent and Germany's DAX fell 0.4 percent. The London Stock Exchange was closed for a summer bank holiday. Earlier in Asia, Japan's benchmark Nikkei 225 added 2.3 percent South Korea's Kospi fell 0.3 percent. Hong Kong's Hang Seng slipped 0.4 percent.

Benchmark U.S. crude oil fell 66 cents to $46.98 a barrel. Brent crude, used to price oil internationally, lost 66 cents to $49.26 a barrel. In other energy trading, wholesale gasoline fell 5 cents to $1.47 a gallon, heating oil fell 1 cent to $1.49 a gallon and natural gas fell 2 cents to $2.85 per 1,000 cubic feet.

Trading was subdued ahead of the Labor Day holiday weekend in the U.S. Very few companies are reporting earnings this week and there is scant news on the economy, apart from the Labor Department's monthly job survey coming up on Friday.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 1.56 percent from 1.63 percent. The dollar rose to 101.98 yen from 101.86 yen late Friday. The euro rose to $1.1187 from $1.1183.

Precious and industrial metals futures closed mostly higher. Gold edged up $1.20 to $1,327.10 an ounce, silver gained 11 cents to $18.86 an ounce and copper edged down less than a penny to $2.08 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-48.69	points or ▼	-0.26%	on	Tuesday, August 30, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,454.30	▼	-48.69	▼	-0.26%		
	Nasdaq____	5,222.99	▼	-9.34	▼	-0.18%		
	S&P_500___	2,176.12	▼	-4.26	▼	-0.20%		
	30_Yr_Bond____	2.23	▲	0.02	▲	0.81%		

NYSE Volume	 3,002,215,750 	 	 	 	 	  		 
Nasdaq Volume	 1,534,691,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,820.79	▼	-17.26	▼	-0.25%		
	DAX_____	10,657.64	▲	113.20	▲	1.07%		
	CAC_40__	4,457.49	▲	33.24	▲	0.75%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,573.50	▲	12.00	▲	0.22%		
	Shanghai_Comp	3,074.68	▲	4.65	▲	0.15%		
	Taiwan_Weight	9,110.56	▲	0.39	▲	0.00%		
	Nikkei_225___	16,725.36	▼	-12.13	▼	-0.07%		
	Hang_Seng.__	23,016.11	▲	194.77	▲	0.85%		
	Strait_Times.__	2,828.39	▼	-1.04	▼	-0.04%		
	NZX_50_Index_	7,387.95	▲	20.69	▲	0.28%		

http://finance.yahoo.com/news/us-st...tors-wait-jobs-report-141942440--finance.html

*US stocks mostly lower as investors wait for jobs report*

NEW YORK (AP) ”” Stocks fell slightly on Tuesday in another quiet day on Wall Street as hesitant investors remained on the sidelines as a slow summer winds down.

Shares of the candy company Hershey plunged after it walked away from a merger proposal, and Apple slipped after the company was hit with a large tax bill in Europe.

Investors continue to wait to see whether the Federal Reserve will raise interest rates later this year. The next key piece of data is coming on Friday with the August jobs report.

The Dow Jones industrial average fell 48.69 points, or 0.3 percent, to 18,454.30. The Standard & Poor's 500 index fell 4.26 points, or 0.2 percent, to 2,176.12 and the Nasdaq composite fell 9.34 points, or 0.2 percent, to 5,222.99.

Trading was extremely light once again, with roughly 2.95 billion shares changing hands on the New York Stock Exchange, the seventh-slowest day of the year. Monday was the slowest trading day of 2016.

Bank stocks were among the few gainers as investors continued to interpret comments from Federal Reserve Chair Yellen and Vice Chair Stanley Fisher at a conference in Wyoming last week as signs the Fed is ready to raise interest rates later this year. In her comments, Yellen said "the case for an increase (in interest rates) has strengthened in recent months."

Banks are a major beneficiary of rising interest rates since they can charge more for loans when interest rates rise.

Bank of America rose 35 cents, or 2 percent, to $16.19, Wells Fargo rose $1.06, or 2 percent, to $50.62 and Morgan Stanley rose 78 cents, or 2.5 percent, to $32.19.

Investors are waiting to see if the Labor Department's monthly jobs survey this week indicates whether the U.S. economy remains on solid footing. Economists expect employers added 182,500 jobs in August and that the unemployment rate fell slightly to 4.8 percent.

A strong jobs report would give the Federal Reserve additional ammunition to raise interest rates either at its September meeting or later this year.

"After Yellen's comments at Jackson Hole, there are some investors who think higher interest rates could hinge on this jobs report," said Scott Wren, a senior global equity strategist at the Wells Fargo Investment Institute.

In other company news, Hershey fell $12.02, or 11 percent, to $99.65 after snack food company Mondelez International said it was walking away from its proposal to buy Hershey for roughly $25 billion.

Mondelez, which makes Oreo cookies and other snack foods, initially proposed to buy the company earlier this summer, but Hershey is a notoriously difficult company to propose mergers with since the majority of the shares are controlled by a non-profit organization.

Apple fell 82 cents, or 0.8 percent, to $106 after the European Union ruled that it has to pay $14.5 billion in back taxes. Both Apple and Ireland said they would appeal the decision, which is the EU's latest and most aggressive move in its campaign to have multinationals pay a fair tax rate.

United Continental rose $4.04, or 8.6 percent, to $50.99 after the company announced it was hiring a former American Airlines executive, Scott Kirby, to become president and take over day-to-day operations.

In energy trading, benchmark U.S. crude oil fell 63 cents to $46.35 a barrel. Brent crude, used to price oil internationally, fell 89 cents to $48.37 a barrel. In other energy commodities, heating oil fell 1.5 cents to $1.471 a gallon, wholesale gasoline fell 1.9 cents to $1.448 a gallon and natural gas fell 7 cents to $2.827 per thousand cubic feet.

Bond prices were mostly unchanged. The yield on the 10-year Treasury note edged up to 1.57 percent.

The dollar rose to 102.97 yen from 101.98 yen late Monday. The euro slipped to $1.1139 from $1.1187.

In metals, gold fell $10.60 to $1,316.50 an ounce, silver fell 19 cents to $18.67 an ounce and copper fell less than 1 cent to $2.077 per pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-53.42	points or ▼	-0.29%	on	Wednesday, August 31, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,400.88	▼	-53.42	▼	-0.29%		
	Nasdaq____	5,213.22	▼	-9.77	▼	-0.19%		
	S&P_500___	2,170.95	▼	-5.17	▼	-0.24%		
	30_Yr_Bond____	2.23	▲	0.00	▼	-0.13%		

NYSE Volume	 3,752,120,750 	 	 	 	 	  		 
Nasdaq Volume	 1,759,887,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,781.51	▼	-39.28	▼	-0.58%		
	DAX_____	10,592.69	▼	-64.95	▼	-0.61%		
	CAC_40__	4,438.22	▼	-19.27	▼	-0.43%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,529.40	▼	-44.10	▼	-0.79%		
	Shanghai_Comp	3,085.49	▲	10.81	▲	0.35%		
	Taiwan_Weight	9,068.85	▼	-41.71	▼	-0.46%		
	Nikkei_225___	16,887.40	▲	162.04	▲	0.97%		
	Hang_Seng.__	22,976.88	▼	-39.23	▼	-0.17%		
	Strait_Times.__	2,820.59	▼	-7.80	▼	-0.28%		
	NZX_50_Index_	7,398.83	▲	10.88	▲	0.15%		

http://finance.yahoo.com/news/us-stocks-inch-lower-despite-142439518.html

*Energy companies pull US stocks lower as oil prices fall*

NEW YORK (AP) ”” U.S. stocks took small losses Wednesday as energy companies fell with the price of oil and chemical and materials companies traded lower. That pulled the market lower for August, ending a five-month winning streak for stocks. The losses were very small, though, as this proved to be one of the quietest months in recent history for stocks.

Stocks traded lower all day and fell for the fifth time in the last six days. The price of oil dropped more than 3 percent after the U.S. government said crude oil stockpiles grew more than expected last week, while gasoline stockpiles didn't shrink as much as investors hoped.

The dollar gained some strength, which sent commodity prices lower, as expectations grew that the Federal Reserve could raise interest rates from their ultra-low levels as early as next month.

"The more the market believes a Fed rate hike is coming based on better economic data, the more the dollar rises," said Quincy Krosby, market strategist at Prudential Financial. "Last Friday (Fed Chair )Janet Yellen put the market on notice that she sees a rate hike in the coming months."

The Dow Jones industrial average fell 53.42 points, or 0.3 percent, to 18,400.88. The Standard & Poor's 500 index gave up 5.17 points, or 0.2 percent, to 2,170.95. The Nasdaq composite dipped 9.77 points, or 0.2 percent, to 5,213.22.

Energy prices slumped after the U.S. government said crude oil stockpiles increased by 2.3 million barrels last week, a bigger gain than analysts expected. Gasoline stockpiles shrank, but not as much as investors had hoped.

U.S. crude fell $1.65, or 3.6 percent, to $44.70 a barrel in New York. Brent crude, the benchmark for international oil prices, lost $1.33, or 2.7 percent, to $47.04.

That helped send oil and gas companies lower. Chevron gave up $1.12, or 1.1 percent, to $100.58 and Exxon Mobil skidded 38 cents to $87.14. Schlumberger declined $1.64, or 2 percent, to $79.

Tax preparer H&R Block posted a bigger first-quarter loss and less revenue than analysts expected. The company, which reported weak results from tax season this spring, said it is facing more competition in the tax prep industry as well as a growing number of independent tax preparers. H&R Block dropped $2.54, or 10.5 percent, to $21.66. The stock is down 35 percent this year.

Brown-Forman, the maker of liquors including Jack Daniel's whiskey and Finlandia vodka, slumped after its sales fell short of estimates. Brown-Forman said its results were hurt by weak sales in emerging markets and the strong dollar, which makes U.S. goods more expensive overseas. The stock declined $1.78, or 3.5 percent, to $48.55.

Materials companies took some of the biggest losses. Chemicals maker DuPont lost 64 cents to $69.60. Agribusiness giant Monsanto fell 94 cents to $106.50 and building materials company Martin Marietta Materials lost $5.80, or 3.1 percent, to $183.03.

The S&P 500 set records in August, but ended the month down 0.1 percent. The index also traded in one of the narrowest ranges of any month in its history as investors tried to get a feel for the Federal Reserve's plans. The biggest losses went to phone and utility companies, while concerns over drug pricing hurt health care stocks. Banks rose the most as investors gradually became more optimistic that interest rates will increase.

Bond prices slipped, sending yields slightly higher. The yield on the 10-year Treasury note dipped to 1.58 percent from 1.57 percent. The dollar rose to 103.44 yen from 102.97 yen. The euro rose to $1.1162 from $1.1139.

In other energy trading, wholesale gasoline fell 4 cents to $1.41 a gallon. Heating oil lost 6 cents to $1.41 a gallon. Natural gas rose 6 cents to $2.89 per 1,000 cubic feet.

Gold fell $5.10 to $1,311.40 an ounce. Silver rose 3 cents to $18.71 an ounce. Copper remained at $2.08 a pound.

In Brazil the Bovespa fell 1.7 percent after the country's Senate voted to remove President Dilma Rousseff from office. The move was expected, but it was a major event in a political fight that has lasted a year and is far from over.

The DAX in Germany shed 0.6 percent and so did Britain's FTSE 100. France's CAC 40 fell 0.4 percent. Earlier, Japan's benchmark Nikkei 225 rose 1 percent as investors were cheered by a stronger dollar, which helps Japanese exporters. South Korea's Kospi lost 0.3 percent and Hong Kong's Hang Seng was down 0.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	18.42	points or ▲	0.10%	on	Thursday, September 1, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,419.30	▲	18.42	▲	0.10%		
	Nasdaq____	5,227.21	▲	13.99	▲	0.27%		
	S&P_500___	2,170.86	▼	-0.09	▲	0.00%		
	30_Yr_Bond____	2.23	▲	0.00	▼	-0.04%		

NYSE Volume	 3,386,338,750 	 	 	 	 	  		 
Nasdaq Volume	 1,588,433,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,745.97	▼	-35.54	▼	-0.52%		
	DAX_____	10,534.31	▼	-58.38	▼	-0.55%		
	CAC_40__	4,439.67	▲	1.45	▲	0.03%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,511.20	▼	-18.20	▼	-0.33%		
	Shanghai_Comp	3,063.31	▼	-22.19	▼	-0.72%		
	Taiwan_Weight	9,001.15	▼	-67.70	▼	-0.75%		
	Nikkei_225___	16,926.84	▲	39.44	▲	0.23%		
	Hang_Seng.__	23,162.34	▲	185.46	▲	0.81%		
	Strait_Times.__	2,816.47	▼	-4.12	▼	-0.15%		
	NZX_50_Index_	7,423.19	▲	24.36	▲	0.33%		

http://finance.yahoo.com/news/weak-start-september-us-stock-market-143919056--finance.html

*Stocks, starting September on a quiet note, notch tiny gains*

NEW YORK (AP) ”” U.S. stocks staged a late recovery Thursday and finished mostly higher, led by technology and metals companies. However energy companies continued to fall with the price of oil.

In early trading the Dow Jones industrial average lost as much as 105 points. But those losses faded around noon and stocks finished more or less back where they started. Banks and utility companies slipped, and energy companies took losses as oil prices fell for the fourth day in a row.

It has now been almost two months since the stock market has made a big move. The market recorded a tiny loss in August after an extraordinarily quiet month.

Benchmark U.S. crude is down more than 9 percent this week, but it's stayed between $40 and $50 a barrel for about five months. Lowell Yura, a portfolio manager at BMO Global Asset Management, said investors shouldn't worry about the recent decline because energy companies have had more than a year to strengthen their financial positions in response to lower oil prices. So even if oil prices fall further, it won't cause much damage to bonds or the broader stock market.

"We've had some time now for that sector to prepare for lower oil prices for longer," he said. "In the long term it's really hard to imagine a world in which low oil prices are bad for growth."

The Dow rose 18.42 points, or 0.1 percent, to 18,419.30. The Standard & Poor's 500 index lost 0.09 points to 2,170.86. The Nasdaq composite gained 13.99 points, or 0.3 percent, to 5,227.21.

U.S. crude oil gave up $1.54, or 3.4 percent, to $43.16 a barrel in New York. Brent crude, the benchmark for international oil prices, fell $1.44, or 3.1 percent, to $45.45 a barrel in London. Valero Energy lost $1.06, or 1.9 percent, to $54.29.

Diamond Offshore Drilling sank after the company said Brazilian oil company Petrobras is terminating a contract with it. Diamond said the contract was scheduled to end in October 2018, and that it does not believe Petrobras' actions are legal. Its shares lost $1.96, or 10.6 percent, to $16.51.

Technology companies made the biggest gains. Hewlett Packard Enterprise gained 68 cents, or 3.2 percent, to $22.16. Graphics chipmaker Nvidia said it will work with Chinese e-commerce company Baidu to develop an autonomous driving system. Nvidia picked up $1.81, or 3 percent, to $63.15 and Baidu rose $5.55, or 3.2 percent, to $176.62.

Campbell Soup fell after disappointing results from the company's fresh products unit. The company said carrot sales fell because of a premature harvest that resulted in smaller vegetables, while a recall hurt sales of its Bolthouse Farms beverages. The maker of canned soups, Pepperidge Farm cookies and V8 juices has been trying to capitalize on a growing desire for fresh foods. Its stock slid $3.81, or 6.3 percent, to $56.91.

Costco stock fell after the company reported weak sales for August. The wholesale club operator said sales at older stores were unchanged compared with last year, while analysts expected some growth. The stock gave up $5.88, or 3.6 percent, to $156.21.

Materials companies made some of the largest gains. Gold producer Newmont Mining jumped $1.19, or 3.1 percent, to $39.43 and steel maker Nucor rose 79 cents, or 1.6 percent, to $49.30.

Casino companies rose after spending on gambling in Macau rose for the first time in more than two years. The Gaming Inspection and Coordination Bureau said gross revenue from gambling rose 1.1 percent in August. Gambling revenue in Macau plunged 34 percent last year and it's down about 9 percent this year. Wynn Resorts rose $3.85, or 4.3 percent, to $93.17 and Las Vegas Sands gained $3.60, or 7.2 percent, to $53.81.

Cable company Charter Communications, which recently bought Time Warner Cable and Bright House Networks, rose after S&P Dow Jones said the company will be added to the Standard & Poor's 500 index next week. Charter gained $11.61, or 4.5 percent, to $268.82.

U.S. manufacturing shrank in August for the first time since February as orders and output fell and factories cut jobs. However there were signs that the weak global economy won't hurt U.S. manufacturers as much. Chinese factory managers said they expect to do more business and European manufacturers reported continued growth.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	72.66	points or ▲	0.39%	on	Friday, September 2, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,491.96	▲	72.66	▲	0.39%		
	Nasdaq____	5,249.90	▲	22.69	▲	0.43%		
	S&P_500___	2,179.98	▲	9.12	▲	0.42%		
	30_Yr_Bond____	2.27	▲	0.04	▲	1.84%		

NYSE Volume	 3,086,336,500 	 	 	 	 	  		 
Nasdaq Volume	 1,475,357,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,894.60	▲	148.63	▲	2.20%		
	DAX_____	10,683.82	▲	149.51	▲	1.42%		
	CAC_40__	4,542.17	▲	102.50	▲	2.31%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,470.60	▼	-40.60	▼	-0.74%		
	Shanghai_Comp	3,067.35	▲	4.05	▲	0.13%		
	Taiwan_Weight	8,987.55	▼	-13.60	▼	-0.15%		
	Nikkei_225___	16,925.68	▼	-1.16	▼	-0.01%		
	Hang_Seng.__	23,266.70	▲	104.36	▲	0.45%		
	Strait_Times.__	2,803.92	▼	-12.55	▼	-0.45%		
	NZX_50_Index_	7,426.11	▲	2.92	▲	0.04%		

http://finance.yahoo.com/news/stocks-gain-tepid-jobs-report-stokes-hopes-low-143644681--finance.html

*Stocks rise as tepid jobs report stokes hopes for low rates
*

NEW YORK (AP) — U.S. stocks rose Friday as investors found some positive aspects in a middling employment report. Job growth slowed in August, and traders hope that will convince the Federal Reserve to wait before raising interest rates.

Stocks started the day with big gains following the Labor Department's job report. Energy companies rose more than the rest of the market as oil prices broke out of a four-day slump. The gains were broad, but the stocks that rose the most were utilities, which would stand to benefit if interest rates remain low.

Kate Warne, investment strategist for Edward Jones, said the jobs report was good but not great. That actually helped send the market higher because a very strong report could have pushed the Fed to raise interest rates as early as this month. Some investors fear that could jeopardize an uneven economic recovery.

"It falls right in the sweet spot of what the market wanted," she said. "It wasn't so strong as to make (higher interest rates) seem necessary but it wasn't so weak as to make a rate increase this year unlikely."

The Dow Jones industrial average added 72.66 points, or 0.4 percent, to 18,491.96. The Dow rose as much as 125 points in the morning. The Standard & Poor's 500 index rose 9.12 points, or 0.4 percent, to 2,179.98. The Nasdaq composite gained 22.69 points, or 0.4 percent, to 5,249.90.

Compared to the last few months, job gains slowed in most major industries in August and wages only rose a little. While the U.S. is on a long streak of job growth, reports over the last few months have been inconsistent. Growth was weak in April and May, but picked up in June and July and seems to have slowed again last month.

The Federal Reserve raised interest rates slightly in December and wants to gradually bring them back closer to where they were before the financial crisis of 2008. But most investors didn't expect rates to rise this month, and the jobs report appeared to confirm that.

U.S. benchmark crude oil rose $1.28, or 3 percent, to $44.44 a barrel in New York. Brent crude, the benchmark for international oil prices, added $1.38, or 3 percent, to $46.83 a barrel in London. U.S. crude had fallen 9 percent over the last four days. Anadarko Petroleum added $2.95, or 5.5 percent, to $56.49 and Chevron picked up 72 cents to $100.93.

Utilities made even bigger gains. They're seen as steady investments, and their high dividends make them more appealing when bond yields are low. NextEra Energy gained $2.13, or 1.8 percent, to $123.13 and American Electric Power rose 83 cents, or 1.3 percent, to $65.24.

Household goods makers also traded higher. Colgate-Palmolive, which makes toothpastes, soaps, and pet foods, rose 62 cents to $74.89. Tyson Foods, the largest meat and poultry processing company in the world, gained 96 cents, or 1.3 percent, to $76.44. Cigarette makers also did well, as Reynolds American and Altria Group gained ground.

Carnival Corp. and Royal Caribbean Cruises both skidded. Morgan Stanley analyst Jamie Rollo said demand for cruises seems to have gotten weaker in August and bookings for late 2016 and early 2017 have slowed down. He downgraded Carnival shares to "Underweight," and the company took the biggest loss on the S&P 500. It fell $2.31, or 4.7 percent, to $46.39 while Royal Caribbean lost $2.70, or 3.7 percent, to $70.01.

Health care companies missed out on the gains as drugmakers fell. Democratic presidential candidate Hillary Clinton announced a plan Friday that's intended to give the government more power to resist increases in the price of older drugs. Mylan fell $1.95, or 4.7 percent, to $39.97 as legislators questioned the company's rebate payments to Medicare. Mylan stock has dropped 18 percent in the last two weeks as the company has been criticized for repeatedly raising the price of its EpiPen allergy injection. Elsewhere, Mallinckrodt fell $3.17, or 4.2 percent, to $72.42.

Athletic apparel maker Lululemon fell after it reported disappointing sales. Its forecast for the rest of the year also failed to inspire investors. The stock tumbled $8.09, or 10.6 percent, to $68.57.

Bond prices fell. The yield on the 10-year U.S. Treasury note rose to 1.61 percent from 1.57 percent. The dollar rose to 103.94 yen from 103.32 yen and the euro edged down to $1.1159 from $1.1197.

9789


----------



## bigdog

Source: http://finance.yahoo.com 

 *THE NYSE WAS CLOSED FOR LABOR DAY HOLIDAY ON MONDAY SEPTEMBER 5

The NYSE DOW closed  	HIGHER ▲	72.66	points or ▲	0.39%	on	Friday, September 2, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,491.96	▲	72.66	▲	0.39%		
	Nasdaq____	5,249.90	▲	22.69	▲	0.43%		
	S&P_500___	2,179.98	▲	9.12	▲	0.42%		
	30_Yr_Bond____	2.27	▲	0.04	▲	1.84%		

NYSE Volume	 3,089,032,500 	 	 	 	 	  		 
Nasdaq Volume	 1,448,273,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,879.42	▼	-15.18	▼	-0.22%		
	DAX_____	10,672.22	▼	-11.60	▼	-0.11%		
	CAC_40__	4,541.08	▼	-1.09	▼	-0.02%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,524.40	▲	53.80	▲	0.98%		
	Shanghai_Comp	3,072.10	▲	4.74	▲	0.15%		
	Taiwan_Weight	9,090.13	▲	102.58	▲	1.14%		
	Nikkei_225___	17,037.63	▲	111.95	▲	0.66%		
	Hang_Seng.__	23,649.55	▲	382.85	▲	1.65%		
	Strait_Times.__	2,851.74	▲	47.82	▲	1.71%		
	NZX_50_Index_	7,492.03	▲	65.92	▲	0.89%		

http://finance.yahoo.com/news/asian...--finance.html?_fsig=x8qNAHT0V3VrPjbAPohCGA--

*US holiday keeps a lid on European markets*

LONDON (AP) -- European stock markets closed a tad lower Monday following mixed economic data. Trading activity was dented by the Labor Day holiday in the U.S.

KEEPING SCORE: In Europe, Germany's DAX ended 0.1 percent lower at 10,672.22 while the CAC-40 fell 0.02 percent to 4,541.08. The FTSE 100 index of leading British shares finished the session 0.2 percent lower at 6,879.42.

BRITAIN HOLDS UP: Another survey of British economic activity provided further evidence that the British economy has held up better than many people expected following the June vote to leave the European Union. According to IHS Markit and the Chartered Institute of Purchasing and Supply, the purchasing managers' index for Britain — a broad gauge of economic activity — jumped to 53.2 points, reversing a record fall to 47.4 in July experienced after the June 23 referendum. The index is on a 100-point scale, with figures above 50 representing growth.

MARKET REACTION: The pound rose modestly on the news, trading 0.1 percent higher at near seven-week highs of $1.3313. British stocks slipped as investors marked down export-oriented companies in light of the pound's move. A higher pound makes their products more expensive in international markets.

ANALYST TAKE: "The latest reading negates some of the pessimism from the July reading, which sparked fears of a substantial slowdown in business activity following the EU referendum after showing the largest decline on record," said David Cheetham, market analyst at XTB.

EUROPE SLOWING? An equivalent survey for the 19-country eurozone suggested that the region lost some economic momentum in August, largely because of a slowdown in Germany, a closely watched survey showed Monday. IHS Markit said its purchasing managers' index for the eurozone fell to a 19-month low of 52.9 points in August from 53.2 the previous month. The fall was unexpected as the initial estimate for August was 53.3 and has stoked speculation that the European Central Bank will enact a further stimulus on Thursday at its regular policy meeting. That has helped shore up stocks across the eurozone.

ENERGY: Oil prices pushed ahead amid speculation of a production freeze after the world's two largest oil producers, Russia and Saudi Arabia, agreed to act together to stabilize global oil output. It's unclear what that may entail though. Benchmark U.S. crude oil gained 70 cents to $45.14 a barrel in electronic trading on the New York Mercantile Exchange, while Brent crude, the benchmark for international oil prices, rose 67 cents to $47.50 a barrel.

ASIA'S DAY: Japan's Nikkei 225 added 0.7 percent to finish at 17,037.63. South Korea's Kospi gained 1.1 percent to 2,060.08. Hong Kong's Hang Seng rose 1.7 percent to 23,668.40, while the Shanghai Composite edged up nearly 0.2 percent to 3,072.10. Australia's S&P/ASX 200 climbed 1.1 percent to 5,429.60.

CURRENCIES: The euro was steady at $1.1150 while the dollar fell 0.6 percent to 103.39 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	46.16	points or ▲	0.25%	on	Tuesday, September 6, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,538.12	▲	46.16	▲	0.25%		
	Nasdaq____	5,275.91	▲	26.01	▲	0.50%		
	S&P_500___	2,186.48	▲	6.50	▲	0.30%		
	30_Yr_Bond____	2.24	▼	-0.03	▼	-1.37%		

NYSE Volume	 3,421,643,000 	 	 	 	 	  		 
Nasdaq Volume	 1,754,002,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,826.05	▼	-53.37	▼	-0.78%		
	DAX_____	10,687.14	▲	14.92	▲	0.14%		
	CAC_40__	4,529.96	▼	-11.12	▼	-0.24%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,510.40	▼	-14.00	▼	-0.25%		
	Shanghai_Comp	3,090.71	▲	18.62	▲	0.61%		
	Taiwan_Weight	9,181.85	▲	91.72	▲	1.01%		
	Nikkei_225___	17,081.98	▲	44.35	▲	0.26%		
	Hang_Seng.__	23,787.68	▲	138.13	▲	0.58%		
	Strait_Times.__	2,896.55	▲	44.81	▲	1.57%		

http://finance.yahoo.com/news/us-stocks-slide-weak-report-144305400.html

*US stocks inch higher on hope for more oil deals*

NEW YORK (AP) ”” Energy companies led U.S. stocks higher Tuesday as investors hoped higher oil prices and bigger profits are on the way.

News of two deals in the energy sector also helped send those stocks higher as traders anticipated that more consolidation could follow. Spectra Energy agreed to be acquired for $28 billion and Yates Petroleum said it would be bought for $2.3 billion.

“What’s driving the stocks today is a view that some consolidation might take some costs out and drive up profits,” said Jim McDonald, chief investment strategist for Northern Trust.

The Dow Jones industrial average gained 46.16 points, or 0.2 percent, to 18,538.12. The Standard & Poor’s 500 index rose 6.50 points, or 0.3 percent, to 2,186.48. The Nasdaq composite added 26.01 points, or 0.5 percent, to close at 5,275.91, an all-time high.

Investors were once again getting their hopes up for an agreement among oil producing countries to reduce output and mitigate a supply glut that has knocked oil prices lower.

On Tuesday Iran’s oil minister said his country would support an effort by OPEC to stabilize the oil market. Because Iran is boosting its oil production after years of sanctions, it has opposed efforts to limit oil production.

Oil prices didn’t change much on the day. Benchmark U.S. crude oil added 39 cents to $44.83 a barrel in New York. Brent crude, the benchmark for international oil prices, lost 37 cents to $47.26 a barrel in London.

The market wobbled in the morning after a survey was released showing a sharp slowdown in the U.S. service sector last month. That helped send shares of consumer companies and banks lower. It also sent prices for precious metals, bonds, and high-yielding utility and phone company stocks higher.

“Just when people think the U.S. economy is starting to regain some strength, you get hit with a report like this,” McDonald said.

The Institute for Supply Management said U.S. service companies grew at a far slower pace in August than they had in July. While service firms have expanded every month six and a half years, the ISM reported its weakest service industry reading since February 2010. New orders and hiring grew at a slower rate and exports fell. Service firms accounted for almost all of U.S. job creation last month.

Some of the biggest gains went to utility and phone companies, traditional safe-play stocks. Investors also snapped up government bonds, sending prices higher and yields lower. That echoed a pattern seen when the market was plunging early this year. AES added 61 cents, or 5 percent, to $12.84 and NextEra Energy rose $2.16, or 1.8 percent, to $125.29.

The yield on the 10-year Treasury note declined to 1.53 percent from 1.61 percent late Friday. The dollar sank to 102.08 yen from 103.94 yen Friday. The euro rose to $1.1253 from $1.1159.

Metals priced jumped. Gold gained $27.30, or 2.1 percent, to $1,354 an ounce. Silver rose 77 cents, or 4 percent, to $20.14 an ounce. Copper picked up 1 cent to $2.09 a pound.

Deal talks and news spread beyond the energy sector. German health care and chemicals conglomerate Bayer raised its offer for Monsanto to $127.50 a share. The latest offer values Monsanto at around $55.8 billion. Monsanto has already rejected two bids from Bayer, and its stock remains far below the price of Bayer’s bid. It fell $1.37, or 1.3 percent, to $106.07 Tuesday.

Industrial and medical device company Danaher will buy molecular diagnostics company Cepheid for $53 per share, or about $4 billion. Cepheid climbed $18.11, or 52.6 percent, to $52.53 while Danaher dipped $1.69, or 2.1 percent, to $79.50.

Bus, truck and engine maker Navistar surged after it announced an investment from a unit of Volkswagen. The companies are also creating a joint venture that will help source parts for each of them, and they will share technology. Volkswagen Truck & Bus also name two directors to Navistar’s board, and Navistar said Tuesday that Chairman James Keyes will retire.

Navistar rose $5.72, or 40.7 percent, to $19.79, far above the $15.76 a share Volkswagen Truck & Bus is paying. Rival engine maker Cummins lost $9.22, or 7.3 percent, to $116.94.

A pair of U.S.-based 3-D printing companies traded higher after General Electric made a big bet on the industry. GE agreed to spend $1.4 billion to buy two European 3-D competitors. 3-D Systems Corp. rose 83 cents, or 5.6 percent, to $15.75 and Stratasys added 83 cents, or 3.8 percent, to $22.76. GE lost 24 cents to $31.05, which helped pull industrial stocks lower.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-11.98	points or ▼	-0.06%	on	Wednesday, September 7, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,526.14	▼	-11.98	▼	-0.06%		
	Nasdaq____	5,283.93	▲	8.02	▲	0.15%		
	S&P_500___	2,186.16	▼	-0.32	▼	-0.01%		
	30_Yr_Bond____	2.24	▲	0.00	▼	-0.13%		

NYSE Volume	 3,298,264,250 	 	 	 	 	  		 
Nasdaq Volume	 1,857,298,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,846.58	▲	20.53	▲	0.30%		
	DAX_____	10,752.98	▲	65.84	▲	0.62%		
	CAC_40__	4,557.66	▲	27.70	▲	0.61%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,521.10	▲	10.70	▲	0.19%		
	Shanghai_Comp	3,091.93	▲	1.22	▲	0.04%		
	Taiwan_Weight	9,259.07	▲	77.22	▲	0.84%		
	Nikkei_225___	17,012.44	▼	-69.54	▼	-0.41%		
	Hang_Seng.__	23,741.81	▼	-45.87	▼	-0.19%		
	Strait_Times.__	2,893.65	▼	-2.90	▼	-0.10%		
	NZX_50_Index_	7,571.11	▲	67.57	▲	0.90%		

http://finance.yahoo.com/news/us-stock-indexes-mixed-nasdaq-210535430.html

*US stock indexes mixed; Nasdaq ekes out another record high*

Even on a day when the major U.S. stock indexes barely budged, the market notched another milestone.

The Nasdaq composite eked out a gain, pushing the tech-heavy index to its second record-high close in a row. The Dow Jones industrial average and Standard & Poor's 500 index drifted in the opposite direction, closing slightly in the red.

Supermarket chains and other consumer-focused companies were among the biggest decliners. Traders bid up shares in energy, technology and airline companies. Crude oil prices rose.

New figures on job openings and a report used by the Federal Reserve to gauge the health of businesses did little to move the market, which has been in a wait-and-see mode as investors gauge the likelihood of further intervention by the Fed.

"We get a favorable data point and shortly thereafter we get one that suggests we're still in a very low-growth environment," said Eric Wiegand, senior portfolio manager at the Private Client Reserve at U.S. Bank. "We're not seeing tremendous volume or tremendous conviction on either side, from either sellers or buyers."

The Dow dropped 11.98 points, or 0.1 percent, to 18,526.14. The S&P 500 index slipped 0.32 points, or 0.01 percent, to 2,186.16. The Nasdaq gained 8.02 points, or 0.2 percent, to 5,283.93.

A run of weak U.S. economic data has reduced expectations that the Federal Reserve will raise interest rates again soon, which would be a potential boon for stocks. However, if the central bank opts to hold off on a rate increase, it could suggest expectations of sluggish economic growth and a dimmer outlook for corporate earnings, which is bad for stocks.

On Wednesday, investors got a mixed bag of economic news. The Fed's latest "Beige Book" survey of business conditions indicated that the economy grew at a moderate or modest pace this summer in eight of the central bank's 12 U.S. districts. The findings represent a slowdown from previous reports.

Separately, the Labor Department said job openings jumped 4 percent in July. Another government report last Friday showed that employers pulled back on hiring in August.

"The jobs report from last Friday still kind of overshadowed that," said JJ Kinahan, chief strategist at TD Ameritrade.

Shares in some supermarket operators slumped on worries about lower food prices and greater discounts. Sprouts Farmers Markets fell $3.13, or 13.7 percent, to $19.68, after the company cut its guidance, citing falling food prices and rising discounts. Whole Foods slid $1.62, or 5.3 percent, to $29.08, while Kroger lost $1.35, or 4.1 percent, to $31.32.

Dave & Buster's Entertainment fell about 3 percent after the restaurant and arcade chain reported weaker-than-anticipated sales. The company also lowered its same-store sales growth outlook for the rest of the year. The stock shed $1.34 to $44.93.

Benchmark U.S. crude oil futures rose 67 cents, or 1.5 percent, to close at $45.50 a barrel in New York. Brent crude, the benchmark for international oil prices, added 72 cents, or 1.5 percent, to close at $47.98 a barrel in London.

The pickup in crude prices gave energy stocks a boost. The sector eked out the biggest gain in the S&P 500 index, rising 0.3 percent. It's up 15.5 percent this year.

Technology stocks also rose, led by digital storage drive manufacturer Western Digital. The stock jumped $5.75, or 12.1 percent, to $53.30. Rival Seagate Technology added $2.04, or 5.9 percent, to $36.51.

Apple shares moved higher as the company announced new iPhone models that are water and dust resistant. Analysts say the new iPhones could help Apple recover modestly from a recent dip in sales. The stock added 66 cents, or 0.6 percent, to $108.36.

Apple also announced that Nintendo's "Super Mario Runs" game will be available on the iPhone. That news sent U.S.-traded shares in Nintendo up $8.12, or 28.8 percent, to $36.32. Nintendo had previously resisted releasing Mario games to mobile phones.

Investors also bid up shares in several airlines. American Airlines Group rose $1.79, or 4.8 percent, to $38.75, while United Continental Holdings added $2.54, or 4.9 percent, to $53.68. Delta Air Lines rose $2.08, or 5.7 percent, to $38.90. Southwest Airlines climbed $1.73, or 4.7 percent, to $38.68.

News that Bill Ackman's investment firm Pershing Square has acquired a 9.9 percent stake in Chipotle Mexican Grill gave shares in the struggling restaurant chain a lift. The stock rose $24.38, or 5.9 percent, to $438.45.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-46.23	points or ▼	-0.25%	on	Thursday, September 8, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,479.91	▼	-46.23	▼	-0.25%		
	Nasdaq____	5,259.48	▼	-24.44	▼	-0.46%		
	S&P_500___	2,181.30	▼	-4.86	▼	-0.22%		
	30_Yr_Bond____	2.32	▲	0.09	▲	3.84%		

NYSE Volume	 3,701,555,000 	 	 	 	 	  		 
Nasdaq Volume	 1,815,368,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,858.70	▲	12.12	▲	0.18%		
	DAX_____	10,675.29	▼	-77.69	▼	-0.72%		
	CAC_40__	4,542.20	▼	-15.46	▼	-0.34%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,484.60	▼	-36.50	▼	-0.66%		
	Shanghai_Comp	3,095.95	▲	4.03	▲	0.13%		
	Taiwan_Weight	9,262.89	▲	3.82	▲	0.04%		
	Nikkei_225___	16,958.77	▼	-53.67	▼	-0.32%		
	Hang_Seng.__	23,919.34	▲	177.53	▲	0.75%		
	Strait_Times.__	2,894.48	▲	0.83	▲	0.03%		
	NZX_50_Index_	7,534.73	▼	-36.38	▼	-0.48%		

http://finance.yahoo.com/news/us-st...lide-european-markets-143307291--finance.html

*US stock indexes notch modest losses; oil prices surge*

A slide in technology and consumer-focused companies helped pull U.S. stock indexes modestly lower Thursday, offsetting strong energy sector gains.

A broad swath of retailers, from department stores to fast-food chains, also notched losses, while most of the big gainers were oil production and drilling companies.

They got a boost from a report indicating fuel stockpiles fell precipitously last week. The price of U.S. crude also jumped on the report, and closed nearly 5 percent higher.

U.S. bond yields also surged, as traders reacted to the European Central Bank's decision to leave its key interest rates unchanged and hold off on extending a stimulus program.

Still, in the absence of any major new economic data, the stock indexes continued a recent pattern of mostly sluggish trading.

"It's been many, many days since we've had a substantive move either to the upside or the downside in the market," said Erik Davidson, chief investment officer for Wells Fargo Private Bank. "It still feels like a holiday week."

The Dow Jones industrial average lost 46.23 points, or 0.3 percent, to 18,479.91. The Standard & Poor's 500 index slid 4.86 points, or 0.2 percent, to 2,181.30.

The sell-off in technology stocks weighed on the Nasdaq composite index, which fell 24.44 points, or 0.5 percent, to 5,259.48. The tech-heavy index set all-time highs on Tuesday and Wednesday.

Apple slid 2.6 percent a day after the consumer electronics giant introduced its newest slate of products, including a new iPhone that doesn't come with an analog headphone jack. The stock shed $2.84 to $105.52.

Investors also got a dash of tech sector deal news. Hewlett Packard Enterprise agreed to spin off part of its business software unit to Micro Focus in a deal valued at $8.8 billion. The pact calls for HP Enterprise to remain majority owner of the new company. Shares in HP Enterprise slid 71 cents, or 3.2 percent, to $21.38.

Separately, Intel said it will spin its cybersecurity business into a new company called McAfee for $3.1 billion in cash. Private equity firm TPG will invest $1.1 billion in the new company and own a majority stake. Intel slipped 2 cents to $36.44.

All told, technology stocks were the biggest decliner in the S&P 500, shedding 0.9 percent. The sector is up 9.1 percent this year.

"The tech sector has been strong and outside of today continues to be strong," said Willie Delwiche, an investment strategist at Baird.

Investors hammered retailers Tractor Supply and Pier 1 Imports.

Tractor Supply slumped 16.9 percent after the farming and hardware goods retailer said its business is being hurt by poor economic conditions in rural, energy-producing areas where it does most of its business, and other factors. The stock was the biggest decliner in the S&P 500 index, shedding $14.15 to $69.38.

Pier 1 Imports tumbled 15 percent after the home decor retailer gave weak quarterly guidance and said its president and CEO will leave the company at the end of the year. The stock slid 72 cents to $4.08.

Several oil drilling and production companies rose on the latest oil stockpiles figures, pushing the S&P 500's energy sector 1.7 percent higher. The sector is up 17.4 percent this year.

Chesapeake Energy rose 93 cents, or 13.7 percent, to $7.74, the biggest gainer in the S&P 500 index. Diamond Offshore Drilling gained $1.43, or 9 percent, to $17.40. Murphy Oil climbed $1.90, or 6.8 percent, to $29.75.

Traders also bid up crude oil prices. Benchmark U.S. crude rose $2.12, or 4.7 percent, to close at $47.62 a barrel in New York. Brent crude, used to price international oils, gained $2.01, or 4.2 percent, to $49.99 in London.

The news out of the European Central Bank helped ease demand for U.S. bonds, driving their prices lower and pushing yields higher. The yield on the 10-year Treasury rose to 1.60 percent from 1.54 percent late Wednesday.

"They're not adding more stimulus, and that maybe makes people feel less like they need to pile into U.S. bonds," said Delwiche.

At a news conference, ECB President Mario Draghi seemed relatively confident about the economy and less inclined to hint at more stimulus than some analysts had expected. He urged governments to do their part.

Despite Draghi's more confident tone, the ECB will have to take more stimulus action at its October or December meetings, analysts said.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-394.46	points or ▼	-2.13%	on	Friday, September 9, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,085.45	▼	-394.46	▼	-2.13%		
	Nasdaq____	5,125.91	▼	-133.57	▼	-2.54%		
	S&P_500___	2,127.81	▼	-53.49	▼	-2.45%		
	30_Yr_Bond____	2.39	▲	0.07	▲	2.88%		

NYSE Volume	 4,201,242,500 	 	 	 	 	  		 
Nasdaq Volume	 2,139,453,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,776.95	▼	-81.75	▼	-1.19%		
	DAX_____	10,573.44	▼	-101.85	▼	-0.95%		
	CAC_40__	4,491.40	▼	-50.80	▼	-1.12%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,440.50	▼	-44.10	▼	-0.80%		
	Shanghai_Comp	3,078.85	▼	-17.10	▼	-0.55%		
	Taiwan_Weight	9,164.88	▼	-98.01	▼	-1.06%		
	Nikkei_225___	16,965.76	▲	6.99	▲	0.04%		
	Hang_Seng.__	24,099.70	▲	180.36	▲	0.75%		
	Strait_Times.__	2,873.33	▼	-21.15	▼	-0.73%		
	NZX_50_Index_	7,468.60	▼	-66.13	▼	-0.88%		

http://finance.yahoo.com/news/us-stock-indexes-slide-morning-143704529.html

*US stocks slump as traders fear higher interest rates*

Investor jitters over the possibility the Federal Reserve is ready to raise interest rates this year roiled Wall Street Friday, handing the stock market its worst day in more than two months.

The Dow Jones industrial average sank nearly 400 points, its worst single-day loss since June. The broad slump wiped out two months of gradual gains, jolting the market out of a mostly flat course over the past several weeks.

Phone and utilities stocks, which investors have sought out this year for their high dividends, fell far more than the rest of the market. Energy companies, which have also gained a lot this year, took a drubbing as the price of crude oil fell.

Remarks by a Fed bank president early Friday fueled growing speculation among traders that the central bank could be ready to lift its key interest rate for the first time since December 2015. Ultra-low interest rates have been a key driver of an extended stock market rally.

"We have a good probability that we're getting it by the end of the year," said JJ Kinahan, chief strategist at TD Ameritrade.

The Dow lost 394.46 points, or 2.1 percent, to 18,085.45. The Standard & Poor's 500 index slid 53.49 points, or 2.5 percent, to 2,127.81. The Nasdaq composite index lost 133.57 points, or 2.5 percent, to 5,125.91.

The three indexes notched their biggest losses since June 24, just after Britain voted to leave the European Union. They S&P 500 also had its worst week since early February.

Friday's swoon was a swift reversal for the market. The Nasdaq set record highs on two consecutive days earlier this week. And the Dow and S&P 500 hit new highs last month.

The signs of a rough day appeared early Friday as the market opened lower. Then investors got wind of the remarks by Fed Bank of Boston President Eric Rosengren, who said a case could be made for the central bank to raise its key interest rate sooner rather than later.

The Fed is scheduled to hold a policy meeting later this month. In recent weeks, few Fed observers have expected the Fed to lift rates this month, speculating that a December hike is more likely.

"We have been in that camp, still believe it will be a December move, rather than a September move," said Bill Northey, chief investment officer of the Private Client Group at U.S. Bank. "But September cannot be ruled out at this point."

The prospect of rising interest rates sent bond prices lower, pushing the yield on the 10-year Treasury to its highest level since late June. It climbed to 1.67 percent from 1.60 percent late Thursday.

As bond yields rose, investors sold off high-dividend stocks like utilities and phone companies. Those stocks have been in favor among investors seeking income while interest rates and bond yields remained ultra-low. AT&T fell $1.48, or 3.6 percent, to $39.71, while Verizon slid $1.78, or 3.3 percent, to $51.82.

Oil prices closed lower after rallying a day earlier. Benchmark U.S. crude fell $1.74, or 3.7 percent, to close at $45.88 a barrel. Brent crude, used to price international oils, slid $1.98, or 4 percent, to close at $48.01 a barrel.

Falling oil prices hurt several oil and gas production and drilling companies. Diamond Offshore Drilling led the decliners in the S&P 500, losing $1.80, or 10.3 percent, to $15.60. Transocean shed 64 cents, or 6.1 percent, to $9.83, while Marathon Oil slid $1.07, or 6.4 percent, to $15.67.

Not all stocks had a rough day.

Strong quarterly results helped lift furniture and housewares retailer Restoration Hardware and fiber optic components supplier Finisar. Restoration Hardware gained $1.34, or 3.8 percent, to $36.63. Finisar added $2.97, or 12.8 percent, to $26.20.

Disappointment over Thursday's decision by the European Central Bank to keep monetary policy unchanged continued to weigh on European markets. Germany's DAX fell 1 percent, while France's CAC 40 lost 1.1 percent. Britain's FTSE 100 was down 1.2 percent.

In Asia, concerns over North Korea's latest nuclear test hit stocks in South Korea. The Kospi index fell 1.3 percent. Japan's benchmark Nikkei 225 rebounded from an initial drop to finish little changed, while Hong Kong's Hang Seng rose 0.8 percent.

In other energy trading, wholesale gasoline fell 6 cents to $1.36 a gallon. Heating oil lost 5 cents to $1.43 a gallon. Natural gas slipped a penny to $2.80 per 1,000 cubic feet.

Among metals, gold slid $7.10 to $1,334.50 an ounce, while silver fell 31 cents to $19.37 an ounce. Copper dipped a penny to $2.09 a pound.

In currency markets, the dollar rose to 102.70 yen from 102.49 on Thursday. The euro slipped to $1.1226 from $1.1257.

90197


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	239.62	points or ▲	1.32%	on	Monday, September 12, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,325.07	▲	239.62	▲	1.32%		
	Nasdaq____	5,211.89	▲	85.98	▲	1.68%		
	S&P_500___	2,159.04	▲	31.23	▲	1.47%		
	30_Yr_Bond____	2.39	▲	0.01	▲	0.21%		

NYSE Volume	 3,976,304,500 	 	 	 	 	  		 
Nasdaq Volume	 1,957,290,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,700.90	▼	-76.05	▼	-1.12%		
	DAX_____	10,431.77	▼	-141.67	▼	-1.34%		
	CAC_40__	4,439.80	▼	-51.60	▼	-1.15%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,319.10	▼	-121.40	▼	-2.23%		
	Shanghai_Comp	3,021.98	▼	-56.88	▼	-1.85%		
	Taiwan_Weight	8,947.06	▼	-106.63	▼	-1.18%		
	Nikkei_225___	16,672.92	▼	-292.84	▼	-1.73%		
	Hang_Seng.__	23,290.60	▼	-809.10	▼	-3.36%		
	Strait_Times.__	2,873.33	▼	-21.15	▼	-0.73%		
	NZX_50_Index_	7,279.76	▼	-188.84	▼	-2.53%		

http://finance.yahoo.com/news/us-st...stors-seek-safe-picks-144112869--finance.html

*US stocks leap as investors hope for steady interest rates*

NEW YORK (AP) ”” U.S. stocks surged Monday after a Federal Reserve official said the central bank shouldn't raise interest rates too soon, which came as a big relief to investors. After a market nosedive on Friday, investors bought safe investments like household goods makers and phone companies. Technology companies also jumped.

Stocks started the day lower following Friday's drop, but they soon rallied. Investors were pleased when Lael Brainard, a member of the Federal Reserve board, said the Fed shouldn't raise interest rates quickly because that could hurt the economy. The biggest gains went to safe investments that pay big dividends, as they are more enticing to investors when interest rates and bond yields are low.

Stocks had plunged Friday following remarks from another Fed official that suggested interest rates could go up next week.

David Kelly, chief global strategist for JPMorgan Funds, said he thinks Federal Reserve policymakers seem "noncommittal" and aren't sure if they should raise interest rates now or not. In his opinion, the Fed's cautious attitude toward raising interest rates even a little is causing strong market reactions.

"The more cautious they are, the more sensitive the market becomes," he said. "What's one quarter of one percent? It's nothing."

The Dow Jones industrial average jumped 239.62 points, or 1.3 percent, to 18,325.07. The Standard & Poor's 500 index rose 31.23 points, or 1.5 percent, to 2,159.04. The Nasdaq composite surged 85.98 points, or 1.7 percent, to 5,211.89.

The gains in the main three U.S. indexes made up for more than half of Friday's losses.

As investors sought safe-play picks, retail giant Wal-Mart rose $1.64, or 2.3 percent, to $71.94 and Procter & Gamble gained $2.01, or 2.3 percent, to $88.25. Phone companies also rose and AT&T gained $1, or 2.5 percent, to $40.71. Those stocks took some of the biggest losses Friday.

HP agreed to buy Samsung's printer business for $1.05 billion, and HP stock rose 54 cents, or 3.9 percent, to $14.49. That helped take technology stocks higher. Elsewhere, Apple rose $2.31, or 2.2 percent, to $105.44 and communications chip maker Broadcom picked up $3.70, or 2.3 percent, to $164.48.

Canadian companies Agrium and Potash Corp. of Saskatchewan agreed to combine into the world's largest crop nutrient company. The companies value their combined business at $36 billion, and Potash shareholders will own a majority of stock in the new company. Potash stock lost 21 cents, or 1.2 percent, to $16.76 and Agrium dipped $2.57, or 2.7 percent, to $92.64.

Markets overseas took sharp losses following the rout in the U.S. Friday. Germany's DAX fell 1.3 percent while the CAC-40 in France also lost 1.2 percent. The FTSE 100 index of leading British shares gave up 1.1 percent. Japan's benchmark Nikkei 225 index lost 1.7 percent and South Korea's Kospi slid 2.3 percent. In Hong Kong the Hang Seng shed 3.4 percent.

U.S. stocks had plunged late last week after Federal Reserve Bank of Boston President Eric Rosengren said there's a case to be made the U.S. central bank should raise rates sooner rather than later. Rosengren and Brainard have both been reluctant to raise rates too quickly.

Investors are not sure if the central bank will raise interest rates, and they're not sure the economy is healthy enough to handle that. Higher rates threaten stocks by making interest-paying savings accounts and bonds more attractive to investors. They could also ding corporate earnings by raising companies' borrowing costs.

Irish drugmaker Perrigo added $6.52, or 7.3 percent, to $95.23 after activist investment firm Starboard Value bought a 4.6 percent stake in the company. Starboard Value said Perrigo needs to boost profit margins for some of divisions, and notes that the company's stock hasn't done well since Perrigo rejected an offer from competitor Mylan NV. Perrigo said it will review Starboard's comments.

U.S. crude rose 41 cents to $46.29 a barrel in New York. Brent crude, the benchmark for international oil trading, climbed 31 cents to $48.32 a barrel in London.

Energy Transfer Pipeline fell $1.19, or 3 percent, to $37.95. On Friday a federal judge ruled that the company can build a $3.8 billion pipeline intended to carry oil from North Dakota to Illinois. That sent the company's stock higher. But the federal government stepped in to temporarily stop part of the project, and several agencies said they will reconsider their decisions supporting it.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-258.32	points or ▼	-1.41%	on	Tuesday, September 13, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,066.75	▼	-258.32	▼	-1.41%		
	Nasdaq____	5,155.25	▼	-56.63	▼	-1.09%		
	S&P_500___	2,127.02	▼	-32.02	▼	-1.48%		
	30_Yr_Bond____	2.47	▲	0.08	▲	3.17%		

NYSE Volume	 4,101,338,500 	 	 	 	 	  		 
Nasdaq Volume	 1,991,207,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,665.63	▼	-35.27	▼	-0.53%		
	DAX_____	10,386.60	▼	-45.17	▼	-0.43%		
	CAC_40__	4,387.18	▼	-52.62	▼	-1.19%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,310.00	▼	-9.10	▼	-0.17%		
	Shanghai_Comp	3,023.51	▲	1.53	▲	0.05%		
	Taiwan_Weight	8,940.83	▼	-6.23	▼	-0.07%		
	Nikkei_225___	16,729.04	▲	56.12	▲	0.34%		
	Hang_Seng.__	23,215.76	▼	-74.84	▼	-0.32%		
	Strait_Times.__	2,818.38	▼	-54.95	▼	-1.91%		
	NZX_50_Index_	7,249.23	▼	-30.53	▼	-0.42%		

http://finance.yahoo.com/news/stocks-skid-weaker-forecast-sends-142638370.html

*Stocks tumble on worries about the Fed and economic growth*

NEW YORK (AP) ”” U.S. stocks abruptly changed course again Tuesday and took large losses. Investors worried about the possibility of a weaker global economy and tried to anticipate the Federal Reserve's plans for interest rates. Energy companies fell with the price of oil after a leading industry group said demand for oil is down more than it previously thought.

Stocks sank over the first few hours of trading and never regained their footing. The price of oil fell 3 percent after the International Energy Agency's remarks about oil demand. The group expects weaker growth because of a more pronounced slowdown in the global economy.

Bond yields jumped and phone company dropped. Apple was one of the few bright spots after T-Mobile said preorders for Apple's newest iPhones are strong.

After two months of unusual calm on the markets, stocks have whipsawed over the last few days. They plunged Friday and recovered about half those losses on Monday, only to drop lower Tuesday. Confusion over the Fed's intentions has been a major factor.

Randy Frederick, vice president of trading and derivatives at Charles Schwab, said investors don't know what the Fed will do at its meeting next Tuesday and Wednesday and the market may remain volatile until then.

"Some of the things they said Friday scared people," he said. "Monday they tried to calm them down. Now they're in a quiet period so we don't know what they're thinking."

The Dow Jones industrial average gave up 258.32 points, or 1.4 percent, to 18,066.75. The Standard & Poor's 500 index fell 32.02 points, or 1.5 percent, to 2,127.02. The Nasdaq composite lost 56.63 points, or 1.1 percent, to 5,155.26.

The IEA, which represents 29 oil-producing countries, is predicting slower growth in demand for oil because of a more pronounced economic slowdown during the third quarter of the year, among other factors. The price of oil has plunged over the last two years as an enormous supply glut built up while growth in demand slowed.

Investors have been worried about a possible slowdown in economic growth. Those fears were a big reason stocks tumbled in January and early February.

U.S. crude fell $1.39, or 3 percent, to $44.90 a barrel in New York. Brent crude, the benchmark for international oil prices, slid $1.22, or 2.5 percent, to $47.10 a barrel in London.

Exxon Mobil sank $2.08, or 2.4 percent, to $85.21 and Marathon Oil stumbled $1.13, or 7.3 percent, to $14.34.

Anadarko Petroleum agreed to pay $2 billion to buy Freeport-McMoRan's deepwater assets in the Gulf of Mexico. Activist investor Carl Icahn, who bought a stake in Freeport-McMoRan last year, has pushed the company to spin off its oil and gas business so it can focus on copper mining. Anadarko stock dipped 20 cents to $57.59 and Freeport-McMoRan fell 93 cents, or 8.4 percent, to $10.15.

Of the 30 stocks on the Dow average, only Apple traded higher. It rose $2.51, or 2.4 percent, to $107.95 after T-Mobile said preorders for Apple's newest iPhones, introduced last week, are the strongest it has seen so far.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 1.73 percent from 1.67 percent. The yield on the 30-year Treasury bond also jumped. Both yields are the highest they've been since late June, right before Britain voted to leave the European Union.

Only 20 stocks in the S&P 500 index traded higher. Some of the largest losses went to phone companies, which sank as higher bond yields made them less appealing as income-producing investments. Verizon shed $1.12, or 2.1 percent, to $51.45 and AT&T fell 74 cents, or 1.8 percent, to $39.97.

Among the few gainers was chipmaker Intersil, which agreed to be bought by Renesas of Japan. Renesas' offer values Intersil at $22.50 per share, or $3.05 billion. Intersil climbed $1.94, or 9.8 percent, to $21.70.

Weight Watchers International slumped 68 cents, or 6.6 percent, to $9.68 after the weight loss company said CEO James Chambers will step down at the end of the month. Weight Watchers more than doubled after the company announced an alliance with Oprah Winfrey, who bought a 10 percent stake and joined the company's board of directors. The stock has given up some of its gains lately.

In other energy trading, wholesale gasoline lost 1 cent to $1.38 a gallon. Heating oil sank 2 cents to $1.42 a gallon. Natural gas fell 1 cent to $2.91 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-31.98	points or ▼	-0.18%	on	Wednesday, September 14, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,034.77	▼	-31.98	▼	-0.18%		
	Nasdaq____	5,173.77	▲	18.52	▲	0.36%		
	S&P_500___	2,125.77	▼	-1.25	▼	-0.06%		
	30_Yr_Bond____	2.44	▼	-0.03	▼	-1.09%		

NYSE Volume	 3,632,867,500 	 	 	 	 	  		 
Nasdaq Volume	 1,851,192,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,673.31	▲	7.68	▲	0.12%		
	DAX_____	10,378.40	▼	-8.20	▼	-0.08%		
	CAC_40__	4,370.26	▼	-16.92	▼	-0.39%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,326.60	▲	16.60	▲	0.31%		
	Shanghai_Comp	3,002.85	▼	-20.66	▼	-0.68%		
	Taiwan_Weight	8,902.30	▼	-38.53	▼	-0.43%		
	Nikkei_225___	16,614.24	▼	-114.80	▼	-0.69%		
	Hang_Seng.__	23,190.64	▼	-25.12	▼	-0.11%		
	Strait_Times.__	2,809.35	▼	-9.03	▼	-0.32%		
	NZX_50_Index_	7,210.72	▼	-38.51	▼	-0.53%		

http://finance.yahoo.com/news/stocks-tick-higher-quiet-start-142108363.html

*Stocks shed early gain as energy and consumer companies fall*

NEW YORK (AP) ”” U.S. stocks surrendered early gains and finished mostly lower Wednesday as energy companies skidded with the price of oil. Apple led technology companies higher. The mixed finish came after three days of big, erratic moves.

The Dow Jones industrial average gained 96 points about an hour after trading began, but those gains slipped away as the day wore on. The price of oil fell about 3 percent for the second day in a row and energy companies fell with it. Household goods companies also slipped. Bond yields decreased after a big gain the day before, and high-dividend utility stocks made gains.

Investors have sent stocks in different directions as they wonder if the Federal Reserve will raise interest rates next week, and they're also speculating about the health of the global economy.

Bonds also reflected that confusion as they changed direction again. Yields fell and prices rose. The yield on the 10-year Treasury note fell to 1.70 percent. A day earlier it jumped to 1.73 percent, the highest in almost three months.

David Lefkowitz, senior equity strategist at UBS Wealth Management Americas, said investors aren't sure what the Federal Reserve and central banks in Europe and Japan will do. But he said they're expecting higher interest rates, or at least less economic stimulus.

"There's now a growing consensus that perhaps we're looking at a rising interest rate environment rather than a falling one," he said.

The Dow Jones industrial average lost 31.98 points, or 0.2 percent, to 18,034. The Standard & Poor's 500 index dipped 1.25 points, or 0.1 percent, to 2,125.77. The Nasdaq composite climbed 18.52 points, or 0.4 percent, to 5,173.77.

After four months of public negotiations, seed and weedkiller maker Monsanto agreed to be bought by German drug and farm chemical company Bayer for $57 billion in cash. Bayer makes a wide range of crop protection chemicals that kill weeds, bugs and fungus, while Monsanto is known for its seeds business and the weedkiller Glyphosate. It rose 66 cents to $106.76.

Benchmark U.S. crude lost $1.32, or 2.9 percent, to finish at $43.58 a barrel in New York. That came after a 3 percent drop on Tuesday. The international standard, Brent crude, fell $1.25, or 2.7 percent, to $45.85 a barrel in London.

Energy companies also as well. Chevron gave up $1.01, or 1 percent, to $98.42 and Murphy Oil lost $1, or 3.8 percent, to $25.14.

Drugstore chains Walgreens fell $1.27, or 1.5 percent, to $80.98 and CVS Health shed $1.49, or 1.6 percent, to $89.44.

Apple picked up $3.88, or 3.6 percent, to $111.83, for its second day of big gains. Apple rose Tuesday after T-Mobile said it's getting strong preorders for the new iPhones. Apple gets most of its revenue from the iPhone, and those sales, while still enormous, have finally started to decline in the last year. That's hurt Apple stock, which traded above $130 a little more than a year ago.

Stocks are at their lowest levels in two months after big losses Friday and Tuesday. In between came a big gain on Monday.

"We're just kind of reverting back to a normal level of volatility," Lefkowitz said. "We got almost lulled to sleep because things were so unusually quiet in the last six weeks of the summer."

Dermatology drug developer Vitae Pharmaceuticals soared to $20.85 after it agreed to be bought by Allergan, the maker of Botox. The deal values Vitae at $21 per share, or $606 million. Vitae, which doesn't have any approved products, closed at $8.10 on Tuesday. Allergan rose $4.71, or 2 percent, to $244.81.

Ford dipped 24 cents, or 1.9 percent, to $12.14 after it said its pretax profit will fall this year. Ford also said its results will weaken further in 2017 as the company invests more money in electric and autonomous cars and its costs rise. The automaker expects results to start improving in 2018.

Cracker Barrel Old Country Store gave up $10.55, or 7 percent, to $139.98 after investors weren't impressed with the restaurant chain's projections for the current fiscal year.

In other energy trading, wholesale gasoline lost 2 cents to $1.36 a gallon. Heating oil fell 4 cents, or 2.9 percent, to $1.38 a gallon. Natural gas gave up 2 cents to $2.89 per 1,000 cubic feet.

The price of gold gained $2.40 to $1,326.10 an ounce. Silver rose 9 cents to $19.07 an ounce. Copper climbed 5 cents, or 2.5 percent, to $2.16 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	177.71	points or ▲	0.99%	on	Thursday, September 15, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,212.48	▲	177.71	▲	0.99%		
	Nasdaq____	5,249.69	▲	75.92	▲	1.47%		
	S&P_500___	2,147.26	▲	21.49	▲	1.01%		
	30_Yr_Bond____	2.47	▲	0.03	▲	1.19%		

NYSE Volume	 3,332,686,000 	 	 	 	 	  		 
Nasdaq Volume	 1,889,754,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,730.30	▲	56.99	▲	0.85%		
	DAX_____	10,431.20	▲	52.80	▲	0.51%		
	CAC_40__	4,373.22	▲	2.96	▲	0.07%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,337.10	▲	10.50	▲	0.20%		
	Shanghai_Comp	3,002.85	▼	-20.66	▼	-0.68%		
	Taiwan_Weight	8,902.30	▼	-38.53	▼	-0.43%		
	Nikkei_225___	16,405.01	▼	-209.23	▼	-1.26%		
	Hang_Seng.__	23,335.59	▲	144.95	▲	0.63%		
	Strait_Times.__	2,805.52	▼	-3.83	▼	-0.14%		
	NZX_50_Index_	7,196.24	▼	-14.48	▼	-0.20%		

http://finance.yahoo.com/news/us-stocks-move-higher-apple-pulls-tech-companies-142913823.html

*US stocks jump as Apple pulls tech companies up again*

NEW YORK (AP) -- U.S. stocks changed course again Thursday and climbed as Apple led a big gain for technology companies and energy companies recovered some of their recent losses. Investors looked over a series of mixed economic reports as they sought clues about the Federal Reserve's intentions and the health of the economy.

Technology companies made the largest gains as Apple rose for the fourth consecutive day. It's up 12 percent this week on growing optimism about early sales of its newest iPhones.

Energy companies bounced back after two rough days, though the price of oil rose only a small amount. Health care and phone company stocks also climbed. Bond yields wobbled and finished little changed, a sign investors aren't sure what will happen with interest rates.

It was the fourth big move for the market in the last five days as investors try to anticipate whether the Fed will raise interest rates next week. Based on weaker producer prices and manufacturing and less spending by shoppers, they appeared to conclude rates will stay where they are for now.

Karyn Cavanaugh, senior market strategist for Voya Investment Strategies, said investors are sending stocks higher because they think the reports will make the Fed less likely to raise rates now. Some investors fear that that would hurt the economy.

"They're not going to raise interest rates in September," she said. "It was kind of a mixed bag, but the bottom line is that the data's not great."

The Dow Jones industrial average rose 177.71 points, or 1 percent, to 18,212.48. The Standard & Poor's 500 index jumped 21.49 points, or 1 percent, to 2,147.26. The Nasdaq composite gained 75.92 points, or 1.5 percent, to 5,249.69.

Apple rose to its highest price in 10 months on reports of strong preorders for the new iPhones it introduced last week. The stock added $3.80, or 3.4 percent, to $115.57. Other technology companies also rose. Microsoft gained 93 cents, or 1.7 percent, to $57.19 and Intel picked up 94 cents, or 2.6 percent, to $36.56.

Strong gains for technology and health care companies have the Nasdaq on pace for its best week since late June.

Benchmark U.S. crude rose 33 cents to $43.91 per barrel in New York. It fell almost 6 percent in the last two days. Brent crude, used to price international oils, added 74 cents, or 1.6 percent, to $46.59 a barrel in London. Among energy stocks, Marathon Petroleum rose $1.87, or 4.5 percent, to $43.74 and Chevron gained $1.08, or 1.1 percent, to $99.50.

Investors pored over a series of economic reports. The Labor Department said producer prices fell in August as gas and food prices declined. Lower producer prices reduce inflation, and the Fed has said it wants to see evidence inflation is edging upward before it raises rates. Inflation has remained consistently low in recent years.

Reports by the Commerce Department and the Federal Reserve, respectively, showed that retail sales fell last month and factory production decreased as well.

Bond prices wobbled. The yield on the 10-year Treasury note remained at 1.70 percent.

Among companies in the news, Goodyear Tire & Rubber climbed after the company boosted its dividend and said it plans to return $4 billion to shareholders over the next few years. The stock rose $1.58, or 5.1 percent, to $32.39.

Aerie Pharmaceuticals surged $9.48, or 44.9 percent, to $30.61 after the company reported positive results from a late-stage trial of Roclatan, an experimental glaucoma drug.

AMC Networks fell $1.44, or 2.8 percent, to $50.53 after Stifel Nicolaus analyst Benjamin Mogil downgraded the company because competition is growing and ratings for its hit "The Walking Dead" may weaken as the show enters its seventh season.

Wells Fargo lost 37 cents to $46.15. Regulators said last week that the bank opened more than 2 million accounts that customers may not have authorized and transferred money into those accounts without their approval. The company agreed to pay a $185 million fine and says it will cut back on aggressive sales targets, but the controversy is damaging its reputation.

The stock is mired in a five-day losing streak that has pulled its value down 7.5 percent.

The price of gold fell $8.10 to $1,318 an ounce and silver lost 3 cents to $19.04 an ounce. Copper remained at $2.16 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-88.68	points or ▼	-0.49%	on	Friday, September 16, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,123.80	▼	-88.68	▼	-0.49%		
	Nasdaq____	5,244.57	▼	-5.12	▼	-0.10%		
	S&P_500___	2,139.16	▼	-8.10	▼	-0.38%		
	30_Yr_Bond____	2.45	▼	-0.02	▼	-0.89%		

NYSE Volume	 4,961,944,500 	 	 	 	 	  		 
Nasdaq Volume	 2,964,067,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,710.28	▼	-20.02	▼	-0.30%		
	DAX_____	10,276.17	▼	-155.03	▼	-1.49%		
	CAC_40__	4,332.45	▼	-40.77	▼	-0.93%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,396.70	▲	59.60	▲	1.12%		
	Shanghai_Comp	3,002.85	▼	-20.66	▼	-0.68%		
	Taiwan_Weight	8,902.30	▼	-38.53	▼	-0.43%		
	Nikkei_225___	16,519.29	▲	114.28	▲	0.70%		
	Hang_Seng.__	23,335.59	▲	144.95	▲	0.63%		
	Strait_Times.__	2,827.45	▲	21.93	▲	0.78%		
	NZX_50_Index_	7,250.51	▲	54.27	▲	0.75%		

http://finance.yahoo.com/news/us-european-shares-slide-led-141418951.html

*Stocks decline, hurt by declines in banks; Waiting for Fed*

NEW YORK (AP) — Stocks were moderately lower Friday, pushed down, in part, by the price of oil. Investors continue to remain on edge regarding the possibility of the Federal Reserve raising interest rates at its meeting next week.

Banks also fell, led by a plunge in Deutsche Bank after the giant German lender said it wouldn't settle with the Department of Justice over its handling of mortgage securities in the run-up to the 2008 financial crisis.

The Dow Jones industrial average fell 88.68 points, or 0.5 percent, to 18,123.80. The Standard & Poor's 500 index fell 8.10 points, or 0.4 percent, to 2,139.16 and the Nasdaq composite fell 5.12 points, or 0.1 percent, to 5,244.57.

The U.S.-listed shares of Deutsche Bank dropped $1.38, or 9 percent, to $13.38 after the bank said it did not intend to pay the $14 billion settlement that the U.S. government asked for. Federal regulators have been looking to settle with Deutsche Bank, as it has done with the other major Wall Street firms like Goldman Sachs and JPMorgan Chase & Co., for its role in the mortgage bubble and financial crisis.

Other European banks fell as well. Royal Bank of Scotland Group fell 30 cents, or 6 percent, to $4.86.

The news out of Deutsche Bank dragged European stocks lower, with Germany's DAX closing down 1.5 percent, France's CAC-40 index down 0.9 percent and the U.K.'s FTSE 100 index down 0.3 percent.

Stocks have been volatile this week, with the Dow moving more than 100 points four out of five days. Most of the volatility has come as investors prepare for next week's Fed meeting. While most investors do not expect a rate increase, there is a small but noticeable likelihood there will be one.

"By the Fed's own criteria, everything is in place for them to raise rates. But still, people don't think they are going to raise rates, so the market is in conflict," said David Kelly, chief global investment strategist at JP Morgan Asset Management.

In other company news, pharmaceutical company Novavax plunged $7.05, or 85 percent, to $1.29 after the company said its experimental vaccine failed in late-stage clinical testing. Novavax has no active products on the market and this drug was their furthest in development.

Intel rose $1.11, or 3 percent, to $37.67 after the company raised its revenue forecasts, citing stronger-than-expected demand for personal computers.

The S&P 500 is adding a new industry to its traditional groups for the first time since the dotcom era. The benchmark stock index will now have a real estate sector, which will be split off from the financial services component. The new industry component will be effective at the end of trading Friday. After the split, the S&P 500 will have 11 industry sectors.

The 10 current sectors of the S&P 500 are: financial services, information technology, energy, industrials, consumer discretionary companies, materials, telecommunications, consumer staples, health care and utilities.

Benchmark U.S. crude lost 88 cents to $43.03 per barrel in New York. Brent crude, used to price international oils, fell 82 cents to $45.77 per barrel. Heating oil fell 1 cent to $1.41 a gallon, wholesale gasoline rose 3 cents to $1.46 a gallon and natural gas rose 2 cents to $2.948 per 1,000 cubic feet.

The yield on the 10-year Treasury note was mostly unchanged at 1.69 percent. The euro fell to $1.1151 from $1.246 and the dollar rose to 102.42 yen from 102.16 yen.

In metals, gold fell $7.80 to $1,310.20 an ounce, silver fell 18 cents to $18.86 an ounce and copper was unchanged at $2.16 a pound.

0771


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-3.63	points or ▼	-0.02%	on	Monday, September 19, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,120.17	▼	-3.63	▼	-0.02%		
	Nasdaq____	5,235.03	▼	-9.54	▼	-0.18%		
	S&P_500___	2,139.12	▼	-0.04	▲	0.00%		
	30_Yr_Bond____	2.44	▼	-0.01	▼	-0.29%		

NYSE Volume	 3,138,187,000 	 	 	 	 	  		 
Nasdaq Volume	 1,749,335,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,813.55	▲	103.27	▲	1.54%		
	DAX_____	10,373.87	▲	97.70	▲	0.95%		
	CAC_40__	4,394.19	▲	61.74	▲	1.43%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,393.70	▼	-3.00	▼	-0.06%		
	Shanghai_Comp	3,026.05	▲	23.20	▲	0.77%		
	Taiwan_Weight	9,152.88	▲	250.58	▲	2.81%		
	Nikkei_225___	16,519.29	▲	114.28	▲	0.70%		
	Hang_Seng.__	23,550.45	▲	214.86	▲	0.92%		
	Strait_Times.__	2,852.14	▲	24.69	▲	0.87%		
	NZX_50_Index_	7,278.12	▲	27.61	▲	0.38%		

http://finance.yahoo.com/news/us-stocks-rise-tech-machinery-142852524.html

*US stocks can't hang onto gains, finish lower*

NEW YORK (AP) ”” U.S. stocks wobbled and finished mostly lower Monday as investors waited for central bank meetings in the United States and Japan. Health care and technology companies took some of the biggest losses while banks rose.

Investors were indecisive as leaders of the Federal Reserve and Bank of Japan prepared to meet, and stocks swung several times between gains and losses. The Dow rose as much as 131 points early on, then fell as much as 30 points in the afternoon. Banks, utility companies and machinery makers rose. Bond yields edged higher and the dollar weakened.

Russ Koesterich, head of asset allocation with BlackRock's Global Allocation Fund, said investors don't expect the Fed to raise interest rates. However he said investors have more questions about the Bank of Japan's plans.

"They could decide to introduce more stimulus, but it could take a lot of different forms," he said. "One of the questions ... is not only what will they do, but what would the market like to see?"

While advancing stocks far outnumbered decliners, the Dow Jones industrial average dipped 3.63 points, or less than 0.1 percent, to 18,120.17. The Standard & Poor's 500 index lost 0.04 points to 2,139.12. The Nasdaq composite fell 9.54 points, or 0.2 percent, to 5,235.03.

The Federal Reserve will meet Tuesday and announce its latest decision on interest rates the following day. Banks got a boost as some investors hoped that interest rates will rise, which would allow banks to make more money from lending. JPMorgan Chase rose 37 cents to $66.19 and Wells Fargo regained 58 cents, or 1.3 percent, to $46.01.

Technology products distributor Tech Data jumped after it said it will buy the technology solutions business of Avnet for $2.6 billion in cash and stock. Tech Data says the deal will give it operations in 35 countries. Its stock rose $15.46, or 22.3 percent, to $84.80 and Avnet gained $2.68, or 6.8 percent, to $41.89.

Meanwhile, network control company Infoblox agreed to be bought by Vista Equity Partners for $26.50 per share, or $1.51 billion. It surged $3.52, or 15.4 percent, to $26.35.

Despite those gains, the broader technology sector gave up an early advance and finished mostly lower. Apple, which surged last week and reached its highest price this year, lost $1.34, or 1.2 percent, to $113.58 and Intel fell 51 cents, or 1.4 percent, to $37.16.

Health care stocks also lagged the market. Merck fell 95 cents, or 1.5 percent, to $61.33 after rival Sanofi said it sued company. Sanofi says Merck infringed on patents protecting its insulin drug Lantus. Eye drug maker Regeneron Pharmaceuticals fell $5.80, or 1.4 percent, to $402.83.

Sarepta Therapeutics soared $20.79, or 73.9 percent, to $48.94 after the Food and Drug Administration granted tentative approval to its drug Exondys 51, a treatment for a type of muscular dystrophy. The drug treats Duchenne muscular dystrophy, a rare and deadly inherited disease that causes muscle weakness and eventually the loss of all basic movement. It usually causes death by age 25.

The FDA had hesitated to approve the drug because advisers said there was little evidence it worked. Its approval is based on a study of only 12 patients, and the FDA is ordering Sarepta to run a larger study.

Isle of Capri Casinos agreed to be bought by Eldorado Resorts for $23 per share, or $950 million in cash and stock. Combined, the companies own 21 casinos and race tracks. Isle of Capri stock jumped $5.11, or 30.2 percent, to $22.04 while Eldorado Resorts stock lost 41 cents, or 2.9 percent, to $13.84.

Health website operator WebMD slumped after it said CEO David Schlanger is leaving the company by mutual agreement. Schlanger is being replaced by President Steven Zatz, who is in charge of WebMD's advertising and sponsorship business. WebMD fell $2.95, or 5.7 percent, to $49.02 and it is down 27 percent since May 25.

General Motors gained 75 cents, or 2.4 percent, to $31.72 after an analyst said auto sales, which are at record highs, should remain strong for several years. Analyst Adam Jonas of Morgan Stanley raised his rating on GM to "Overweight" and raised his price target to $37 a share from $29.

Benchmark U.S. crude added 27 cents to $43.30 a barrel in New York. Brent crude, used to price international oils, rose 18 cents to $45.95 a barrel in London.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	9.79	points or ▲	0.05%	on	Tuesday, September 20, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,129.96	▲	9.79	▲	0.05%		
	Nasdaq____	5,241.35	▲	6.33	▲	0.12%		
	S&P_500___	2,139.76	▲	0.64	▲	0.03%		
	30_Yr_Bond____	2.43	▼	-0.01	▼	-0.61%		

NYSE Volume	 3,114,538,750 	 	 	 	 	  		 
Nasdaq Volume	 1,665,680,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,830.79	▲	17.24	▲	0.25%		
	DAX_____	10,393.86	▲	19.99	▲	0.19%		
	CAC_40__	4,388.60	▼	-5.59	▼	-0.13%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,397.30	▲	3.60	▲	0.07%		
	Shanghai_Comp	3,023.00	▼	-3.05	▼	-0.10%		
	Taiwan_Weight	9,161.58	▲	8.70	▲	0.10%		
	Nikkei_225___	16,492.15	▼	-27.14	▼	-0.16%		
	Hang_Seng.__	23,530.86	▼	-19.59	▼	-0.08%		
	Strait_Times.__	2,854.69	▲	2.55	▲	0.09%		
	NZX_50_Index_	7,308.45	▲	30.33	▲	0.42%		

http://finance.yahoo.com/news/machinery-makers-lead-us-stocks-higher-early-trading-143852443.html

*US stocks creep higher as Federal Reserve meeting starts*

NEW YORK (AP) -- U.S. stocks inched higher Tuesday in another cautious day of trading as investors kept an eye on central banks in the U.S. and Japan. Health care and household goods companies led the way while energy companies slipped.

Major market indexes were higher all day, but returned most of those gains at the close of trading. They rose just enough cancel out Monday's small losses.

Drug companies helped health care stocks make some modest gains, while Exxon Mobil fell on reports it's being investigated by securities regulators. Bond yields slipped and the dollar was little changed as investors waited decisions from the Federal Reserve and the Bank of Japan.

Since investors doubt the Federal Reserve will raise interest rates Wednesday, they may focus instead on the Fed's statement and a press conference led by Fed Chair Janet Yellen.

"The Fed, until they raise rates, are going to be the primary focus of the markets," said J.J. Kinahan, chief market strategist at TD Ameritrade. "The only reason people may take their eye off of that is the election."

The Dow Jones industrial average gained 9.79 points, or 0.1 percent, to 18,129.96. The Standard & Poor's 500 index added 0.64 points to 2,139.76. The Nasdaq composite picked up 6.33 points, or 0.1 percent, to 5,241.35.

On the New York Stock Exchange, more stocks fell than rose. That was the reverse of Monday, when major indexes fell but more stocks were up than down.

Tuesday was the start of two-day meetings for the Fed and Bank of Japan. While investors didn't expect an increase in U.S. interest rates, the Japanese central bank is expected to take new steps to boost the nation's ailing economy. That could include an increase in its stimulus program or a further cut in the deposit rate as a way to encourage banks to lend money.

Gilead Sciences gained $2.79, or 3.5 percent, to $81.78 after the hepatitis C drugmaker completed a $5 billion debt offering. Gilead said it may use the cash to make a deal, and Jefferies & Co. analyst Brian Abrahams said he thinks the company is getting close to at least one acquisition. Elsewhere, Merck rose 61 cents, or 1 percent, to $61.94.

Ascena Retail Group, the parent of Ann Taylor, Lane Bryant and Dress Barn, dropped to a six-year low after the company reported weak quarterly results and gave a forecast that fell short of investor expectations. Ascena bought Ann Taylor a year ago and also struggled with discounts from competitors and shaky demand. Its stock lost $2.43, or 29.9 percent, to $5.69.

Allergan, the maker of Botox, announced yet another acquisition as it agreed to buy Tobira Therapeutics. Tobira is studying drugs that treat symptoms of non-alcoholic steatohepatitis, a disease that triggers inflammation that can lead to cirrhosis, cancer and liver failure.

Tobira stock has tumbled this year after it reported mixed results from a mid-stage trial of one of its drugs. The shares finished at $4.74 on Monday, but Allergan agreed to pay $28.35 per share upfront, and could pay another $49.84 if Tobira's drugs succeed in clinical testing, win regulatory approved, and meet sales targets.

Tobira shares skyrocketed to $38.91 and Allergan fell $6.62, or 2.7 percent, to $238.67.

The Commerce Department said the pace of home construction slowed down in August as fewer homes were built in the South. Monthly housing figures can be volatile and housing starts have grown this year, but the report hurt shares of homebuilders. PulteGroup gave up 58 cents, or 2.9 percent, to $19.29 and Lennar, which reported strong quarterly results, shed $1.59, or 3.5 percent, to $43.50.

Hotel chains Marriott and Starwood climbed after regulators in China approved the $14.41 billion deal that will bring them together to create the world's largest hotel chain. Marriott, which is buying Starwood, said it expects to complete the deal Friday. Its stock added $1.60, or 2.3 percent, to $69.94 and Starwood rose $1.81, or 2.4 percent, to $76.90.

Royal Caribbean Cruises added $2.93, or 4.5 percent, to $68.41 after the company raised its quarterly dividend to 48 cents from 37.5 cents.

Bond prices rose. The yield on the 10-year U.S. Treasury note fell to 1.69 percent from 1.71 percent. The dollar rose to 101.84 yen from 101.81 yen. The euro slipped to $1.1157 from $1.1178.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	163.74	points or ▲	0.90%	on	Wednesday, September 21, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,293.70	▲	163.74	▲	0.90%		
	Nasdaq____	5,295.18	▲	53.83	▲	1.03%		
	S&P_500___	2,163.12	▲	23.36	▲	1.09%		
	30_Yr_Bond____	2.40	▼	-0.03	▼	-1.28%		

NYSE Volume	 3,670,180,000 	 	 	 	 	  		 
Nasdaq Volume	 1,942,244,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,834.77	▲	3.98	▲	0.06%		
	DAX_____	10,436.49	▲	42.63	▲	0.41%		
	CAC_40__	4,409.55	▲	20.95	▲	0.48%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,429.40	▲	32.10	▲	0.59%		
	Shanghai_Comp	3,025.87	▲	2.87	▲	0.10%		
	Taiwan_Weight	9,228.50	▲	66.92	▲	0.73%		
	Nikkei_225___	16,807.62	▲	315.47	▲	1.91%		
	Hang_Seng.__	23,669.90	▲	139.04	▲	0.59%		
	Strait_Times.__	2,850.74	▼	-3.95	▼	-0.14%		
	NZX_50_Index_	7,281.17	▼	-27.28	▼	-0.37%		

http://finance.yahoo.com/news/us-stocks-rise-oil-prices-142637649.html

US stocks jump after Fed leaves interest rates unchanged

NEW YORK (AP) ”” U.S. stocks climbed Wednesday as investors were relieved that the Federal Reserve once again left interest rates unchanged. That sent dividend-paying stocks higher, while energy companies jumped with the price of oil.

Stocks made a big gain after the Fed's decision, which ended about weeks of confusion for investors. With the central bank confirming that it will raise interest rates slowly, bond yields dropped and utility and phone companies rose. The price of oil rose after the U.S. government said energy stockpiles shrank last week.

In the last two weeks, a few Fed leaders gave differing opinions on whether the central bank should raise interest rates now. That surprised investors, and stocks gyrated for a few days before settling down to tiny moves this week.

"If we had not received these mixed messages, I don't think anybody would have been surprised," said Sam Stovall, U.S. equity strategist for S&P Capital IQ.

The Dow Jones industrial average added 163.74 points, or 0.9 percent, to 18,293.70. The Standard & Poor's 500 index picked up 23.36 points, or 1.1 percent, to 2,163.12. The Nasdaq composite rose 53.83 points, or 1 percent, to a record 5,295.18.

Oil prices jumped as fuel stockpiles shrank and investors hoped that supply gluts are easing, which would allow prices to rise. The Energy Information Administration said oil inventories dropped by 6.2 million barrels and gasoline inventories decreased by 2.5 million barrels last week.

S&P Global Platts says analysts expected oil inventories to grow and gasoline stockpiles to shrink by a smaller amount.

Benchmark U.S. crude added $1.29, or 2.9 percent, to $45.34 a barrel in New York. Brent crude, used to price international oils, rose 95 cents, or 2.1 percent, to $46.83 a barrel in London. That helped energy companies, and Anadarko Petroleum rose $2.78, or 4.8 percent, to $61.06 while Chevron added $1.93, or 2 percent, to $99.63.

The Federal Reserve said the economy has gotten a bit stronger after some shaky results in the spring, and that the argument for raising interest rates has also gotten stronger. However the central bank said it wants to see more improvement in the job market before raising rates.

The Fed raised interest rates in December and hasn't made another move since. The benchmark interest rate was cut to zero in late 2008 and at its current pace it will take many years for rates to get back to pre-financial crisis levels.

Investors were surprised earlier this month when Fed official Eric Rosengren, who has been reluctant to raise rates, suggested he might be willing to raise rates this month. For several days stocks made big moves up and down as investors wondered if that would happen. In the end, Rosengren was one of three Fed voters who wanted to raise rates Wednesday. Seven members voted to leave rates where they are.

By Fed standards, that's a divided result. Investors doubt the Fed will take action in November, when it meets right before the presidential election, but they think there's a good chance rates will rise in December.

The Dow was up about 30 points before the Fed's decision was announced. The ruling boosted dividend-paying companies while bond prices changed course and moved higher. The yield on the 10-year Treasury note fell to 1.66 percent from 1.69 percent.

Software maker Adobe Systems climbed after it raised its forecasts for the year. Adobe also reported solid third-quarter results. Its stock climbed $7.16, or 7.1 percent, to $107.78.

FedEx boosted its forecasts for the year as it projected a record holiday season, and the shipping company posted better first-quarter results than analysts had expected. The stock rose $11.21, or 6.9 percent, to $173.86.

Japan's central bank made some technical changes that give it more influence over long-term interest rates. It said it will continue trying to stimulate the Japanese economy until inflation is higher than 2 percent a year, but it didn't reduce interest rates any further. Some analysts thought the central bank would take further steps to bolster economic growth, which would have weakened the yen. The dollar fell to 100.44 yen from 101.84 yen.

Student lender Navient fell 51 cents, or 3.7 percent, to $13.28 after federal regulators began investigating one of its shareholders. The Securities and Exchange Commission said hedge fund manager Leon Cooperman and Omega Advisors illegally traded on insider information by buying shares of a natural gas company before it sold a natural gas facility, which sent its stock soaring. Cooperman denied the charges.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	98.76	points or ▲	0.54%	on	Thursday, September 22, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,392.46	▲	98.76	▲	0.54%		
	Nasdaq____	5,339.52	▲	44.34	▲	0.84%		
	S&P_500___	2,177.18	▲	14.06	▲	0.65%		
	30_Yr_Bond____	2.35	▼	-0.04	▼	-1.83%		

NYSE Volume	 3,505,441,500 	 	 	 	 	  		 
Nasdaq Volume	 1,869,778,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,911.40	▲	76.63	▲	1.12%		
	DAX_____	10,674.18	▲	237.69	▲	2.28%		
	CAC_40__	4,509.82	▲	100.27	▲	2.27%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,466.30	▲	36.90	▲	0.68%		
	Shanghai_Comp	3,042.31	▲	16.44	▲	0.54%		
	Taiwan_Weight	9,235.26	▲	6.76	▲	0.07%		
	Nikkei_225___	16,807.62	▲	315.47	▲	1.91%		
	Hang_Seng.__	23,759.80	▲	89.90	▲	0.38%		
	Strait_Times.__	2,846.06	▼	-4.68	▼	-0.16%		
	NZX_50_Index_	7,311.71	▲	30.54	▲	0.42%		

http://finance.yahoo.com/news/stocks-gain-moderately-oil-commodity-141755956.html

*Stocks gain moderately, led by high-dividend sectors*

NEW YORK (AP) ”” Stocks posted solid gains on Thursday as investors, comfortable that the Federal Reserve will keep interest rates low, bought up stocks that pay big dividends.

Real estate companies rose as investors looked for income, as did telecom stocks, which also typically pay higher-than-average dividends.

The Dow Jones industrial average rose 98.76 points, or 0.5 percent, to 18,392.46. The Standard & Poor's 500 index gained 14.06 points, or 0.7 percent, 2,177.18 and the Nasdaq composite climbed 44.34 points, or 0.8 percent, to 5,339.52.

The newly created real estate component of the S&P 500 climbed 1.9 percent, far more than any other sector. The group is made up largely of real estate investment trusts, which enjoy certain tax benefits by paying out much of their income as dividends.

Telecommunications stocks, which also carry a higher-than-average dividend, also rose more than the rest of the market. AT&T rose 54 cents, or 1.3 percent, to $41.11. Verizon Communications rose 48 cents, or 1 percent, to $52.35.

Trading followed a pattern that has become familiar in the last several months. After hesitating or worrying that the Federal Reserve will raise interest rates, investors piled into high-dividend stocks following yet another Fed decision to stand pat on interest rates. The two best performing parts of the S&P 500 this year are utilities and telecoms, up 18 percent and 15 percent respectively.

"It's another example of the issues facing investors right now, particularly pension funds and retirement funds, that they are all chasing yield in the same places," said Ian Winer, co-head of equities trading at Wedbush Securities.

Winer said he remains concerned how much more stocks can increase in the short-term, with the U.S. presidential election coming and third-quarter company earnings reports around the corner.

"There's plenty of data that doesn't support the market here, but what else are you going to invest in?" he said.

The Federal Reserve kept its key interest rate unchanged Wednesday but signaled it is likely to raise it later this year. The Fed said the U.S. job market has strengthened and economic activity has picked up but business investment is soft and inflation too low. The central bank said risks to its economic outlook are "roughly balanced."

The Fed's decision to keep rates low also caused bond prices to rise and the U.S. dollar to fall against other major currencies, which in turn helped boost prices of commodities, which are denominated in dollars.

The yield on the U.S. Treasury 10-year note fell to 1.62 percent from 1.67 percent the day before.

U.S. benchmark crude rose 98 cents to close at $46.32 a barrel, while Brent crude, used to price international oils, gained 82 cents to close at $47.65 a barrel. In other energy commodities, heating oil rose 2.5 cents to $1.45 a gallon, wholesale gasoline rose less than 1 cent to $1.40 a gallon and natural gas fell 7 cents to $2.99 per 1,000 cubic feet.

Energy companies followed oil prices higher. Murphy Oil rose $1.14, or 4.3 percent, to $27.55 and Transocean rose 51 cents, or 5.6 percent, to $9.65.

Other commodities also rose, which helped out materials stocks. In metals, gold climbed $13.30, or 1 percent, to $1,344.70 an ounce, silver rose 33 cents to $20.10 an ounce and copper increased 4 cents to $2.19 a pound.

Freeport-McMoRan, the mining giant, jumped 44 cents, or 4.2 percent, to $10.98.

The dollar edged up to 100.89 yen from 100.51 yen. The euro rose to $1.1204 from $1.1173.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-131.01	points or ▼	-0.71%	on	Friday, September 23, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,261.45	▼	-131.01	▼	-0.71%		
	Nasdaq____	5,305.75	▼	-33.78	▼	-0.63%		
	S&P_500___	2,164.69	▼	-12.49	▼	-0.57%		
	30_Yr_Bond____	2.34	▼	-0.01	▼	-0.59%		

NYSE Volume	 3,289,845,000 	 	 	 	 	  		 
Nasdaq Volume	 1,732,262,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,909.43	▼	-1.97	▼	-0.03%		
	DAX_____	10,626.97	▼	-47.21	▼	-0.44%		
	CAC_40__	4,488.69	▼	-21.13	▼	-0.47%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,518.60	▲	52.30	▲	0.96%		
	Shanghai_Comp	3,033.90	▼	-8.42	▼	-0.28%		
	Taiwan_Weight	9,284.62	▲	49.36	▲	0.53%		
	Nikkei_225___	16,754.02	▼	-53.60	▼	-0.32%		
	Hang_Seng.__	23,686.48	▼	-73.32	▼	-0.31%		
	Strait_Times.__	2,856.95	▲	10.89	▲	0.38%		
	NZX_50_Index_	7,296.74	▼	-14.97	▼	-0.20%		

http://finance.yahoo.com/news/stocks-move-slightly-lower-quiet-135414558.html

*Stocks move lower as energy, technology stocks fall*

NEW YORK (AP) -- U.S. stock indexes closed moderately lower on Friday following three days of gains. Several technology stocks traded heavily, including Yahoo, Twitter and Facebook. Energy stocks fell along with a steep decline in the price of oil.

The Dow Jones industrial average lost 131.01 points, or 0.7 percent, to 18,261.45. The Standard & Poor's 500 index lost 12.49 points, or 0.6 percent, to 2,164.69 and the Nasdaq composite index lost 33.78, or 0.6 percent, to 5,305.75.

Stocks posted solid gains this week, with the S&P 500 up 1.2 percent, as investors were relieved that the Federal Reserve decided to keep rates at their current low level. The next time the Fed could raise rates is November, but the general impression among investors is the central bank will not raise rates until December, long after the general election.

"As much as market fundamentals matter, the Fed and its decisions continue to dominate markets," said Kristina Hooper, head of U.S. investment strategies at Allianz Global Investors.

Several technology stocks made big moves as investors worked through company-specific news on Facebook, Twitter and Yahoo.

Facebook fell $2.12, or 1.6 percent, to $127.96 after The Wall Street Journal reported that the company was overstating how long users were watching video ads, raising concerns that a portion of Facebook's ad revenue may be at risk.

Yahoo fell $1.35, or 3.1 percent, to $42.80 after the company admitted the data of 500 million users was stolen by a foreign agent, much more than it previously acknowledged. While Yahoo has previously agreed to sell most of its assets to Verizon, there were concerns that this development may cause Verizon to go back to the negotiation table.

Twitter soared $3.99, or 21 percent, to $22.62 after business network CNBC reported that the company is in deal talks with Salesforce and Google's parent company Alphabet for a possible sale.

While stocks rose solidly this week, most of the gains were in relatively safe, dividend-rich companies that investors favor when they're uncertain about the economy. The Dow Jones utility index was up 3.3 percent this week, and the newly created real estate component of the S&P 500, made up of mostly real estate investment trusts, rose 4.3 percent.

Oil prices fell sharply after reports that Saudi Arabia was unable to reach an agreement with Iran to cut production. U.S. benchmark crude oil futures closed down $1.84 to $44.48 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, fell $1.76 to $45.89 a barrel.

In other energy trading, heating oil fell 5 cents to $1.41 per gallon, wholesale gasoline fell 2 cents to $1.38 a gallon and natural gas fell 3.5 cents to $2.955 per thousand cubic feet.

Energy companies were hit hard on the reports, and the energy component of the S&P 500 lost 1.3 percent, much more than the broader market. Transocean, the ocean rig operator, fell 55 cents, or 6 percent, to $9.10.

In metals, gold fell $3.00 to $1,341.70 an ounce, silver fell 29 cents to $19.81 an ounce and copper rose less than 1 cent to $2.201 a pound.

The yield on the U.S. Treasury 10-year note was little changed at 1.62 percent. The euro rose to $1.1231 from $1.204 and the dollar edged up to 101.09 yen from 100.89 yen.

1366


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-166.62	points or ▼	-0.91%	on	Monday, September 26, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,094.83	▼	-166.62	▼	-0.91%		
	Nasdaq____	5,257.49	▼	-48.26	▼	-0.91%		
	S&P_500___	2,146.10	▼	-18.59	▼	-0.86%		
	30_Yr_Bond____	2.33	▼	-0.01	▼	-0.60%		

NYSE Volume	 3,182,620,500 	 	 	 	 	  		 
Nasdaq Volume	 1,631,781,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,818.04	▼	-91.39	▼	-1.32%		
	DAX_____	10,393.71	▼	-233.26	▼	-2.19%		
	CAC_40__	4,407.85	▼	-80.84	▼	-1.80%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,519.10	▲	0.50	▲	0.01%		
	Shanghai_Comp	2,980.43	▼	-53.47	▼	-1.76%		
	Taiwan_Weight	9,194.52	▼	-90.10	▼	-0.97%		
	Nikkei_225___	16,544.56	▼	-209.46	▼	-1.25%		
	Hang_Seng.__	23,317.92	▼	-368.56	▼	-1.56%		
	Strait_Times.__	2,849.94	▼	-7.01	▼	-0.25%		
	NZX_50_Index_	7,258.98	▼	-5.89	▼	-0.08%		

http://finance.yahoo.com/news/health-care-bank-stocks-pull-142816625.html

*US stocks slide as banks tumble on Deutsche Bank worries*

NEW YORK (AP) — U.S. stocks slumped Monday, and banks took the biggest losses. Deutsche Bank plunged as investors worried about the financial health of Germany's largest bank. Pfizer pulled drugmakers down after it announced it won't break up into two companies.

Stocks fell for the second day in a row. Banks were hurt by a drop in bond yields, which means lower interest rates and smaller profits on loans. Consumer companies fell as home improvement retailers were affected by a slowdown in sales of new homes.

European banks tumbled after the German magazine Focus said Deutsche Bank won't get a government bailout if it asks for one. Its report, published Friday, cited "government circles" as its source.

"There's some stress in the banking industry there, and questions about whether governments have the will to step in," said Steve Chiavarone, associated portfolio manager for Federated Investors.

The Dow Jones industrial average lost 166.62 points, or 0.9 percent, to 18,094.83. The Standard & Poor's 500 index fell 18.59 points, or 0.9 percent, to 2,146.10. The Nasdaq composite dropped 48.26 points, or 0.8 percent, to 5,257.49. Stocks are coming off two weeks of solid gains, and the Nasdaq set all-time highs twice last week.

Focus' article, published Friday, also said the German government won't help the Deutsche Bank by intervening with U.S. officials who want it to pay $14 billion to end an investigation into its sale of mortgage-backed securities. The bank's U.S.-listed shares tumbled 90 cents, or 7.1 percent, to $11.85. The stock is down 51 percent this year.

Other banks also tumbled. Goldman Sachs took the largest loss among Dow stocks and sank $3.65, or 2.2 percent, to $161.48. Citigroup shed $1.26, or 2.7 percent, to $45.89.

Bond prices rose. The yield on the 10-year U.S. Treasury note fell to 1.58 percent from 1.62 percent. That also affects banks, as lower bond yields mean lower interest rates and smaller profits on lending.

Stocks overseas also weakened. The DAX in Germany dropped 2.2 percent and France's CAC 40 fell 1.8 percent. In Britain, the FTSE 100 was down 1.3 percent. Japan's benchmark Nikkei 225 edged down 1.3 percent. South Korea's Kospi slipped 0.3 percent and Hong Kong's Hang Seng lost 1.7 percent.

Home Depot and Lowe's sank after the government said sales of new homes fell almost 8 percent in August. That followed a big jump the month before. While sales of new homes have risen over the last year, there simply aren't a lot of houses on the market.

Home Depot shed $2.34, or 1.8 percent, to $125.45 and Lowe's fell $1.54, or 2.1 percent, to $70.81.

Pfizer, one of the largest drug companies in the world, traded lower after it said it will not split into two smaller companies. Some of its investors had supported that plan in the hope it would bolster the value of their stock and accelerate growth, but lately the Viagra maker has been signaling that it probably wouldn't break up. Its stock fell 62 cents, or 1.8 percent, to $33.64.

Oil prices bounced higher as investors monitor a meeting of oil producers in Algeria. Benchmark U.S. crude rose $1.45, or 3.3 percent, to $45.93 a barrel in New York. Brent crude, the international benchmark, rose $1.46, or 3.2 percent, to $47.35 a barrel in London. Oil exploration companies rose the most. Transocean climbed 42 cents, or 4.6 percent, to $9.52 and Noble Energy added 60 cents, or 1.8 percent, to $33.62.

Specialty chemicals maker Chemtura climbed after it agreed to be bought by Germany's Lanxess. Lanxess is paying $33.50 per share for Chemtura, a 19-percent premium, and the companies valued the deal at $2.5 billion. Chemtura stock gained $4.46, or 15.8 percent, to $32.64.

Several companies started the week with deal news. CBOE Holdings, the parent company of the Chicago Board of Exchange, will buy stock exchange operator Bats Global Markets. The companies valued the deal at $3.2 billion, or $32.50 in cash and stock per share of Bats. Bats stock jumped 20 percent Friday as investors hoped that a deal was imminent, and it fell $1.45, or 4.6 percent, to $30.35. CBOE stock lost $3.71, or 5.3 percent, to $66.59.

Casual clothing retailer Lands' End skidded after the departure of its CEO. Federica Marchionni left Dolce & Gabbana to join Lands' End less than two years ago but was unable to stop a decline in sales. Lands' End stock lost $2.54, or 14.1 percent, to $15.46.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	133.47	points or ▲	0.74%	on	Tuesday, September 27, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,228.30	▲	133.47	▲	0.74%		
	Nasdaq____	5,305.71	▲	48.22	▲	0.92%		
	S&P_500___	2,159.93	▲	13.83	▲	0.64%		
	30_Yr_Bond____	2.28	▼	-0.05	▼	-2.02%		

NYSE Volume	 3,408,944,750 	 	 	 	 	  		 
Nasdaq Volume	 1,715,353,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,807.67	▼	-10.37	▼	-0.15%		
	DAX_____	10,361.48	▼	-32.23	▼	-0.31%		
	CAC_40__	4,398.68	▼	-9.17	▼	-0.21%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,493.70	▼	-25.40	▼	-0.46%		
	Shanghai_Comp	2,998.17	▲	17.74	▲	0.60%		
	Taiwan_Weight	9,194.52	▼	-90.10	▼	-0.97%		
	Nikkei_225___	16,683.93	▲	139.37	▲	0.84%		
	Hang_Seng.__	23,571.90	▲	253.98	▲	1.09%		
	Strait_Times.__	2,860.23	▲	10.29	▲	0.36%		
	NZX_50_Index_	7,252.92	▼	-11.95	▼	-0.16%		

http://finance.yahoo.com/news/us-stocks-open-higher-led-142633518.html

*Tech and consumer companies lead US stocks higher*

NEW YORK (AP) ”” U.S. stocks rebounded Tuesday and climbed after a survey showed consumer confidence is at a nine-year high, a sign Americans will keep spending in the months to come. Technology and consumer stocks made the largest gains.

The market opened lower after two days of losses but quickly recovered. The consumer confidence report gave major indexes a boost and they locked in a big gain by early afternoon.

Technology companies jumped, and solid results from cruise line operator Carnival sent travel-related companies higher. Energy companies slumped with oil prices as hopes for an international cut in fuel production faded.

U.S. consumer confidence reached its highest level this month since August 2007, according to the Conference Board. The group said its index rose to 104.1 as consumers grew more optimistic about the labor market. The result was better than expected.

Katie Nixon, chief investment officer for Northern Trust, said it’s even more important right now because government spending, exports, and capital spending by businesses are all limited.

“Everything’s riding on the consumer right now,” she said. Recently investors have worried about consumer spending because of disappointing auto sales and retail sales.

After its slow start, the Dow Jones industrial average jumped 133.47 points, or 0.7 percent, to 18,228.30. The Standard & Poor’s 500 index picked up 13.83 points, or 0.6 percent, to 2,159.93. The Nasdaq composite gained 48.22 points, or 0.9 percent, to 5,305.71.

Economists had expected consumer confidence would fall in September. That’s partly because of disappointing reports on car and retail sales earlier this month. Investors have been wondering if consumers would spend enough to keep the economy growing at a steady pace.

Travel companies made some of the biggest gains on the S&P 500 after cruise operator Carnival reported a solid profit and strong revenue in the third quarter and raised its forecast for its full-year results. Carnival rose $1.88, or 4 percent, to $48.35 while competitor Royal Caribbean added $3.38, or 4.8 percent, to $74.35. Southwest Airlines climbed $1.67, or 4.5 percent, to $38.54 and booking site Expedia gained $4.01, or 3.7 percent, to $113.10.

Amazon rose $16.95, or 2.1 percent, to $816.11 as consumer stocks made big moves. Netflix, which has slumped this year after its stock doubled in 2015, regained $2.51, or 2.7 percent, to $97.07. Microsoft helped pull tech stocks higher as it picked up $1.05, or 1.8 percent, to $57.95. IBM advanced $2.79, or 1.8 percent, to $156.77.

Oil prices fell after investors were disappointed again that OPEC countries didn’t make a deal to limit production. A representative for Iran said there probably won’t be any such agreement this week and that oil-producing nations should discuss the issue in November.

U.S. crude fell $1.26, or 2.7 percent, to $44.67 a barrel in New York. The international standard, Brent crude, lost $1.38, or 2.9 percent, to $45.97 a barrel in London. Oil prices rose 3 percent on Monday. Devon Energy lost $1.26, or 3.2 percent, to $38.38 and ConocoPhillips sank 59 cents, or 1.5 percent, to $39.43.

American Express gained 86 cents, or 1.4 percent, to $64.28. A federal appeals court ruled late Monday that the company didn’t violate antitrust laws by preventing stores from asking customers to use one credit card over another and steering consumers to another type of payment. On Tuesday, the company said it will buy back as much as 150 million shares of its stock and raised its dividend to 32 cents from 29 cents.

Oil and natural gas company Rice Energy said it will buy Vantage Energy for $2.7 billion including debt. Rice Energy fell $2.14, or 7.9 percent, to $25. Part of Vantage’s business will become part of a separate Rice company called Rice Midstream Partners, and shares of that partnership rose $1.21, or 5.7 percent, to $22.52.

Bond prices continued to rise. The yield on the 10-year Treasury note fell to 1.56 percent from 1.58 percent. Bond yields have been slipping for more than a week as investors waited for the Federal Reserve to make a decision on interest rates. Last Wednesday the Fed announced it was leaving rates where they are for now.

Geo Group and Corrections Corp. of America slumped after Democratic candidate Hillary Clinton said during the presidential debate Monday night that states should stop doing business with private prisons. In August the federal government said the Justice Department would stop doing business with those prison companies. Corrections Corp. lost $1.18, or 7.4 percent, to $14.78 and Geo Group slid 94 cents, or 3.8 percent, to $23.68.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	110.94	points or ▲	0.61%	on	Wednesday, September 28, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,339.24	▲	110.94	▲	0.61%		
	Nasdaq____	5,318.55	▲	12.84	▲	0.24%		
	S&P_500___	2,171.37	▲	11.44	▲	0.53%		
	30_Yr_Bond____	2.29	▲	0.01	▲	0.39%		

NYSE Volume	 3,852,848,750 	 	 	 	 	  		 
Nasdaq Volume	 1,743,278,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,849.38	▲	41.71	▲	0.61%		
	DAX_____	10,438.34	▲	76.86	▲	0.74%		
	CAC_40__	4,432.45	▲	33.77	▲	0.77%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,500.20	▲	6.50	▲	0.12%		
	Shanghai_Comp	2,987.86	▼	-10.31	▼	-0.34%		
	Taiwan_Weight	9,194.52	▼	-90.10	▼	-0.97%		
	Nikkei_225___	16,465.40	▼	-218.53	▼	-1.31%		
	Hang_Seng.__	23,619.65	▲	47.75	▲	0.20%		
	Strait_Times.__	2,858.01	▼	-2.22	▼	-0.08%		
	NZX_50_Index_	7,290.45	▲	37.53	▲	0.52%		

http://abcnews.go.com/Business/wireStory/stock-indexes-edge-higher-early-trading-42416552

*Energy Stocks Surge on Oil Deal Hopes, Sending Market Higher*

 Energy companies powered to big gains Wednesday, leading the broader stock market higher, on reports that OPEC nations were moving closer to an agreement to cut oil production.

Stocks switched between gains and losses for most of the day, and most industries did not move much. Energy companies surged at 2 p.m. Eastern time on reports that a deal was close. A two-year slump in oil prices has decimated profits at energy companies. The energy sector made its biggest gain since January.

After stock trading closed, OPEC said it had reached a preliminary deal to reduce production for the first time in eight years.

"It just creates a lot of optimism that the worst is over for investors," said Brian Youngberg, energy analyst at Edward Jones.

The Dow Jones industrial average rose 110.94 points, or 0.6 percent, to 18,339.24. The Standard & Poor's 500 index added 11.44 points, or 0.5 percent, to 2,171.37. The Nasdaq composite edged up 12.84 points, or 0.2 percent, to 5,138.55.

A little more than two years ago, a barrel of oil cost around $100. But a huge supply glut built up as the U.S. and other countries produced more and more oil and the global economy slowed, which hurt demand. Oil hit a low of $26 a barrel in February and has traded between $40 a $50 a barrel since April, but investors doubt the price will rise further without limits on production. OPEC produces more than a third of the world's oil.

"The industry needs higher oil prices," said Youngberg.

Benchmark U.S. crude jumped $2.38, or 5.3 percent, to $47.05 a barrel in New York. Brent crude, the international standard, rose $2.72, or 5.9 percent, to $48.69 a barrel in London.

Exxon Mobil picked up $3.66, or 4.4 percent, to $86.90 and Chevron leaped $3.17, or 3.2 percent, to $102.15.

Oil prices jumped 3 percent Monday and then fell 3 percent Tuesday as hopes for a production deal rose and fell, and oil repeatedly changed course Wednesday as well.

Mining and industrial companies also climbed. The Dow was aided by a big gain for heavy machinery maker Caterpillar, which climbed $3.71, or 4.5 percent, to $86.59.

Phone companies suffered some of the largest declines. AT&T fell 61 cents, or 1.5 percent, to $40.85 after a UBS analyst downgraded the company to "Neutral" from "Buy." Analyst John Hodulik said profits will get squeezed as the companies offer trade-in deals to try to win customers. He cut his profit forecast for Verizon, which lost 43 cents to $52.06.

AT&T has climbed 19 percent this year and Verizon has risen 13 percent as investors sought stocks that pay big dividends while bond yields remain low.

Nike's profit and sales were stronger than analysts expected, but the athletic apparel maker's stock slipped $2.09, or 3.8 percent, to $53.25 as investors worried about challenges including slower orders in North America. Credit Suisse analyst Christian Buss said orders in that market are growing at their slowest pace in five years as competition increases. Nike is down 15 percent this year, more than any other stock on the Dow Jones industrial average.

Stockholders in SABMiller approved its combination with AB InBev. That vote was one of the last hurdles in the giant beer merger, which has already been cleared by regulators. AB InBev stock rose $1.56, or 1.2 percent, to $133.44. As part of the deal, Molson Coors will gain full ownership of its joint venture with SABMiller, MillerCoors. Its stock climbed $2.08, or 1.9 percent, to $109.61.

Mattress maker Tempur Sealy International tumbled after the company said third-quarter sales aren't meeting its expectations. It cut its guidance and said it expects revenue to fall as much as 3 percent this year. That suggests sales of no more than $3.12 billion, while FactSet says analysts expected $3.23 billion on average. Tempur Sealy stock dropped $16.68, or 22.4 percent, to $57.77.

Deutsche Bank traded higher after the German bank said it will sell a life insurance subsidiary and emphasized it is not seeking government aid. The company is selling its Abby Life unit to Phoenix Life Holdings for about $1.2 billion. Investors have been worrying about Deutsche Bank's ability to pay a $14 billion claim from the U.S. government. Its U.S.-listed stock, which is down by half this year, rose 38 cents, or 3.2 percent, to $12.30 Wednesday.

In other energy trading, wholesale gasoline jumped 8 cents, or 6 percent, to $1.48 a gallon. Heating oil gained 8 cents, or 5.8 percent, to $1.49 a gallon. Natural gas fell 4 cents to $2.95 per 1,000 cubic feet.

Bond prices slipped. The yield on the 10-year Treasury note rose to 1.57 percent from 1.56 percent. The dollar rose to 100.75 yen from 100.27 yen and the euro inched down to $1.1214 from $1.1221.

Gold fell $6.70 to $1,323.70 an ounce. Silver shed 4 cents to $19.12 an ounce. Copper added 2 cents to $2.19 per pound.

The CAC-40 in France added 0.8 percent while Germany's DAX rose 0.7 percent. In Britain, the FTSE 100 gained 0.6 percent. Tokyo's Nikkei 225 index fell 1.3 percent and Hong Kong's Hang Seng was unchanged. Seoul's Kospi added 0.9 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-195.79	points or ▼	-1.07%	on	Thursday, September 29, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,143.45	▼	-195.79	▼	-1.07%		
	Nasdaq____	5,269.15	▼	-49.39	▼	-0.93%		
	S&P_500___	2,151.13	▼	-20.24	▼	-0.93%		
	30_Yr_Bond____	2.28	▼	-0.01	▼	-0.57%		

NYSE Volume	 4,203,260,500 	 	 	 	 	  		 
Nasdaq Volume	 1,864,879,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,919.42	▲	70.04	▲	1.02%		
	DAX_____	10,405.54	▼	-32.80	▼	-0.31%		
	CAC_40__	4,443.84	▲	11.39	▲	0.26%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,558.20	▲	58.00	▲	1.05%		
	Shanghai_Comp	2,998.48	▲	10.62	▲	0.36%		
	Taiwan_Weight	9,270.90	▲	76.38	▲	0.83%		
	Nikkei_225___	16,693.71	▲	228.31	▲	1.39%		
	Hang_Seng.__	23,739.47	▲	119.82	▲	0.51%		
	Strait_Times.__	2,885.71	▲	27.70	▲	0.97%		
	NZX_50_Index_	7,343.45	▲	53.00	▲	0.73%		

http://finance.yahoo.com/news/stock...145515427.html?_fsig=uKnqt9I7QE27t41MbzoWcQ--

*Stocks skid as drugmakers fall, then bank woes deepen losses*

NEW YORK (AP) ”” U.S. stocks skidded Thursday as drug companies and banks absorbed large losses. Drugmakers faced scrutiny over price increases, while banks fell as investors worried about the stability of Deutsche Bank and other financial institutions.

Stocks were slightly lower in morning trading, and they fell hard at 12:30 p.m. Eastern time on renewed concerns about Germany's largest bank. EpiPen maker Mylan fell after legislators called for an investigation of the company. The price of oil continued to rise, which sent oil drilling and equipment companies higher. Stocks gave up most of their gains from the last two days.

Quincy Krosby, market strategist for Prudential Financial, said investors don't trust Deutsche Bank's statements about its financial health and they are worried what will happen to the bank and to the broader financial system if Deutsche Bank runs low on capital.

"The market begins to worry about Deutsche Bank and then the relationships Deutsche Bank has with other banks here in the United States," she said.

The Dow Jones industrial average lost 195.79 points, or 1.1 percent, to 18,143.45. The Standard & Poor's 500 index sank 20.24 points, or 0.9 percent, to 2,151.13. The Nasdaq composite dropped 49.39 points, or 0.9 percent, to 5,269.15.

Mylan slumped after a group of senators asked the Department of Justice to investigate whether the drugmaker broke the law when it classified its emergency allergy shot EpiPen as a generic drug, which allowed Mylan to make lower rebate payments to states. Mylan gave up $1.75, or 4.4 percent, to $38.47. The stock is down 21 percent since mid-August as the company has come under criticism for repeatedly raising EpiPen's price over the last decade.

Other drug companies traded lower as investors worry that the government will take action to rein in drug price increases. Merck fell $1.39, or 2.2 percent, to $61.91. Amgen fell $4.26, or 2.5 percent, to $165.45.

Financial stocks slumped on renewed worries about Deutsche Bank. U.S. regulators are seeking $14 billion to settle legal claims over its sales of mortgage securities. It's also unclear whether the German government would support the bank if it runs low on capital. Deutsche Bank has said it isn't seeking government aid.

Deutsche Bank's U.S.-listed shares have lost more than half their value this year. On Thursday they tumbled 82 cents, or 6.7 percent, to $11.48 in heavy trading. JPMorgan Chase slid $1.06, or 1.6 percent, to $65.65 and Goldman Sachs shed $4.50, or 2.8 percent, to $158.95.

Oil prices continued to rise after a 5 percent surge the day before. Energy prices had jumped after the nations of OPEC, which collectively produce more than third of the world's oil, agreed to a small cut in production. The decision was a surprise, but something investors had long hoped for. The deal won't be finalized until November.

U.S. crude picked up 78 cents, or 1.7 percent, to $47.83 a barrel in New York. Brent crude, the international benchmark, added 55 cents, or 1 percent, to $49.24 a barrel in London.

Companies that drill for oil rose sharply as investors expected them to benefit from higher prices for crude. Devon Energy added $1.46, or 3.5 percent, to $43.04.

Companies that provide rigs and other equipment to drillers also rose as investors expected that higher prices for crude will encourage more drilling. Helmerich & Payne rose $2.48, or 4 percent, to $65.26. Companies that refine oil fell on the prospect they will have to pay more money for the oil they refine. Marathon Petroleum fell $2.90, or 6.8 percent, to $39.74 and Valero Energy lost $3.40, or 6.2 percent, to $51.71.

ConAgra Foods climbed after its profit surpassed analysts' forecasts, thanks in part to lower costs. The company has sold several brands to focus on product lines like Chef Boyardee and Hebrew National, and it's getting ready to split into two companies. ConAgra rose $3.12, or 7.2 percent, to $46.25.

CBS and Viacom rose after Sumner Redstone's National Amusements, which controls both companies, said it wants them to combine again. CBS and Viacom had merged in 1999 and split up in 2006. Viacom, which recently replaced its CEO and then announced its interim CEO will leave in November, rose $1.21, or 3.3 percent, to $37.77 and CBS rose 42 cents to $54.57.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	164.7	points or ▲	0.91%	on	Friday, September 30, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,308.15	▲	164.70	▲	0.91%		
	Nasdaq____	5,312.00	▲	42.85	▲	0.81%		
	S&P_500___	2,168.27	▲	17.14	▲	0.80%		
	30_Yr_Bond____	2.34	▲	0.06	▲	2.68%		

NYSE Volume	 4,145,156,500 	 	 	 	 	  		 
Nasdaq Volume	 2,017,076,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,899.33	▼	-20.09	▼	-0.29%		
	DAX_____	10,511.02	▲	105.48	▲	1.01%		
	CAC_40__	4,448.26	▲	4.42	▲	0.10%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,525.20	▼	-33.00	▼	-0.59%		
	Shanghai_Comp	3,004.70	▲	6.22	▲	0.21%		
	Taiwan_Weight	9,166.85	▼	-104.05	▼	-1.12%		
	Nikkei_225___	16,449.84	▼	-243.87	▼	-1.46%		
	Hang_Seng.__	23,297.15	▼	-442.32	▼	-1.86%		
	Strait_Times.__	2,869.47	▼	-16.24	▼	-0.56%		
	NZX_50_Index_	7,361.09	▲	17.64	▲	0.24%		

http://finance.yahoo.com/news/us-stocks-rebound-consumer-companies-142214390.html

*Stocks say 'nevermind'; reverse recent losses as banks jump*

NEW YORK (AP) — U.S. stocks climbed Friday as banks made a rapid recovery following a steep fall a day ago. Investors hoped Deutsche Bank and the financial system in general were in better shape than they had feared.

Banks made the biggest gains Friday as Germany's largest bank tried to reassure investors about its financial health. Investors hope Deutsche Bank will be able to negotiate down the massive cost of settling a U.S. investigation into mortgage securities. Energy companies rose as the price of oil continued to move higher, and strong earnings from Costco sent consumer stocks higher.

Deutsche Bank is the largest lender in Germany, and investors are concerned about not only its plunging stock price, but the potential effect on the financial system if Deutsche Bank gets into serious trouble and the German government does not help it. Those fears faded on Friday.

"People came to the realization that this isn't likely to be a big systemic risk that ripples through the financial sector," said Nate Thooft, head of global asset allocation for Manulife Asset Management.

The Dow Jones industrial average jumped 164.70 points, or 0.9 percent, to 18,308.15. The Standard & Poor's 500 index rebounded 17.14 points, or 0.8 percent, to 2,168.27. The Nasdaq composite rose 42.85 points, or 0.8 percent, to 5,312.

The Department of Justice wants Deutsche Bank to pay $14 billion to end an investigation into mortgage-backed securities, and the stock jumped Friday after a report that the bank could settle the case with a smaller payment. Deutsche Bank's U.S.-listed stock rose $1.61, or 14 percent, to $13.09. The stock has been pummeled this year and is trading near all-time lows.

Financial stocks tumbled Thursday afternoon following reports that some hedge funds were moving their business out of Deutsche Bank. On Friday, bank stocks and the broader market regained almost all of those losses.

Thooft said he does not think banks are in great danger, but he said there are causes for concern, including the health of Italy's banks. Meanwhile, with interest rates so low and regulation getting tighter, there are plenty of reasons for investors to avoid bank stocks.

That didn't stop the financial sector, the weakest sector in the market this year, from rallying on Friday. Among U.S. banks, JPMorgan Chase added 94 cents, or 1.4 percent, to $66.59 and Citigroup gained $1.43, or 3.1 percent, to $47.23.

Benchmark U.S. crude oil rose 41 cents to $48.24 a barrel in New York, and it rose 8 percent over the last three days. Brent crude, the international standard, slipped 18 cents to $49.06 a barrel in London.

Oil prices surged this week after the nations of OPEC, which collectively produce more than one-third of the world's oil, surprised investors with an agreement on a small cut in production. Investors hope energy companies will book larger profits as a result. Chevron jumped $1.65, or 1.6 percent, to $102.92 and EOG Resources rose $1.66, or 1.7 percent, to $96.71.

Warehouse club operator Costco Wholesale jumped $5.02, or 3.4 percent, to $152.51 after it reported a profit that was larger than analysts expected. Companies that make and sell household necessities also climbed. Procter & Gamble gained $1.52, or 1.7 percent, to $89.75 and Wal-Mart rose $1.39, or 2 percent, to $72.12.

Cognizant Technology Solutions tumbled after the information technology consulting and outsourcing firm said it's investigating possible bribes paid to officials in India. Cognizant said it's looking into potential violations of the Foreign Corrupt Practices Act and has informed the Department of Justice and the Securities and Exchange Commission.

Cognizant also said its president Gordon Coburn resigned. The stock fell $7.37, or 13.4 percent, to $47.63.

Major stock indexes set records this quarter thanks mostly to tech stocks. The S&P 500 technology index climbed 12 percent over the last three months. Apple, the most valuable company in the S&P 500, surged 18 percent, partly on indications of strong sales for the newest iPhones. Microsoft, the next-largest company, rose 13 percent and another tech giant, Google parent Alphabet, leaped 14 percent.

Bond prices sank. The yield on the 10-year Treasury note rose to 1.60 percent from 1.56 percent. Stocks that pay high dividends, like utilities and real estate and phone companies, traded lower.

1874


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-54.3	points or ▼	-0.30%	on	Monday, October 3, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,253.85	▼	-54.30	▼	-0.30%		
	Nasdaq____	5,300.87	▼	-11.13	▼	-0.21%		
	S&P_500___	2,161.20	▼	-7.07	▼	-0.33%		
	30_Yr_Bond____	2.34	▲	0.00	▼	-0.04%		

NYSE Volume	 3,110,588,250 	 	 	 	 	  		 
Nasdaq Volume	 1,569,721,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,983.52	▲	84.19	▲	1.22%		
	DAX_____	10,511.02	▲	0.00	▲	0.00%		
	CAC_40__	4,453.56	▲	5.30	▲	0.12%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,564.80	▲	39.60	▲	0.72%		
	Shanghai_Comp	3,004.70	▲	6.22	▲	0.21%		
	Taiwan_Weight	9,234.20	▲	67.35	▲	0.73%		
	Nikkei_225___	16,598.67	▲	148.83	▲	0.90%		
	Hang_Seng.__	23,584.43	▲	287.28	▲	1.23%		
	Strait_Times.__	2,870.84	▲	1.37	▲	0.05%		
	NZX_50_Index_	7,372.49	▲	11.40	▲	0.15%		

http://finance.yahoo.com/news/stocks-fall-early-trading-led-142228581.html

*Stocks fall broadly, led by drops in real estate, utilities*

NEW YORK (AP) -- Stocks fell in light trading Monday as investors dumped former darlings of the market, real estate companies and utilities.

Indexes slumped from the start of trading and remained down throughout the day as investors continue to speculate about when the Federal Reserve is likely to raise interest rates as the economy strengthens. A report earlier in the day showed U.S. manufacturing picking up.

The selling was modest, but broad. Eight of the 11 sectors of the Standard and Poor's 500 index closed down for the day.

The Dow Jones industrial average fell 54.30 points, or 0.3 percent, to 18,253.85. The S&P 500 index lost 7.07 points, or 0.3 percent, to 2,161.20. The Nasdaq composite declined 11.13 points, or 0.2 percent, to 5,300.87.

Investors hungry for income-producing assets have been buying utilities and real estate companies for their steady dividends. But those stocks become less attractive if interest rates and bond yields climb.

On Monday, stocks of real estate companies lost 1.8 percent. Utilities shed 1.4 percent.

In an election year when both candidates for U.S. president are talking tough about trade, renewed fears over Britain's exit from the European Union may have also added to the jitters, said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management.

British Prime Minister Theresa May said that the formal process by which Britain leaves the European Union, dubbed "Brexit," will start by March. That sent the British pound down sharply. May signaled that she would prioritize controls on immigration over access to the European single market.

"There was a hope in the market that Brexit didn't mean Brexit," said Haworth. But now, "we have a timetable."

Bucking the downward trend in the market were some stocks involved in the latest of a string of deal-making.

Janus Capital surged $1.69, or 12 percent, to $15.70 after announcing it would merge with a London-based investment company, Henderson Group.

Outdoor gear retailer Cabela's shot up $8.25, or 15 percent, to $63.18 on news it is being bought by Bass Pro Shops for $4.5 billion.

Ernie Cecilia, chief investment officer at Bryn Mawr Trust, said companies are making deals because they have few other ways of lifting sales in a slow growth, low inflation world.

"If you can't raise prices," Cecilia said, "how else are you going to grow?"

The price of oil continued its climb from last week, which normally would help drillers and other energy companies. Benchmark U.S. crude oil rose 57 cents to close at $48.81 a barrel.

In the end, though, even energy companies fell, losing 0.2 percent.

Among stocks making big moves, Merrimack Pharmaceuticals slumped 31 cents, or 5 percent, to $6.04. The cancer drug developer announced that it would cut almost a quarter of its workforce and look for a new CEO.

Federal Realty Investment trust lost $5.85, or nearly 4 percent, to $148.08, one of the biggest declines in the S&P 500.

A number of economic reports are due out this week, culminating Friday with the government's monthly jobs survey. Strong jobs numbers might encourage Federal Reserve to raise interest rates this year.

In energy trading, Brent crude, the international standard, rose 70 cents to close at $50.89 a barrel in London. Wholesale gasoline edged up 1 cent to $1.47 a gallon, heating oil rose 1 cent to $1.55 a gallon and natural gas increased 2 cents to $2.923 per 1,000 cubic feet.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.62 percent from 1.60 percent. The euro fell to $1.1217 from $1.1237 and the dollar rose to 101.55 yen from 101.41 yen.

Precious and industrial metals prices closed lower. Gold fell $4.40 to $1,312.70 an ounce, silver lost 35 cents to $18.87 an ounce and copper slipped 2 cents to $2.19 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-85.4	points or ▼	-0.47%	on	Tuesday, October 4, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,168.45	▼	-85.40	▼	-0.47%		
	Nasdaq____	5,289.66	▼	-11.22	▼	-0.21%		
	S&P_500___	2,150.49	▼	-10.71	▼	-0.50%		
	30_Yr_Bond____	2.41	▲	0.07	▲	3.04%		

NYSE Volume	 3,710,346,000 	 	 	 	 	  		 
Nasdaq Volume	 1,655,907,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,074.34	▲	90.82	▲	1.30%		
	DAX_____	10,619.61	▲	108.59	▲	1.03%		
	CAC_40__	4,503.09	▲	49.53	▲	1.11%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,569.90	▲	5.10	▲	0.09%		
	Shanghai_Comp	3,004.70	▲	6.22	▲	0.21%		
	Taiwan_Weight	9,287.77	▲	53.57	▲	0.58%		
	Nikkei_225___	16,735.65	▲	136.98	▲	0.83%		
	Hang_Seng.__	23,689.44	▲	105.01	▲	0.45%		
	Strait_Times.__	2,884.64	▲	13.80	▲	0.48%		
	NZX_50_Index_	7,352.46	▼	-20.03	▼	-0.27%		

http://finance.yahoo.com/news/stocks-wavering-between-gains-losses-early-trading-142913205.html

*Stocks fall broadly on Wall Street along with bonds and gold*

NEW YORK (AP) ”” Stocks fell broadly on Tuesday, led by sharp drops in utilities and phone companies. U.S. government bond prices also slumped, and gold had its worse day in nearly three years.

Investors are nervous about the timing and the pace of any increase in the super-low interest rates controlled by the Federal Reserve, and comments from central bank officials recently have added to their jitters.

Stocks rose from the open, but the gains quickly faded and the selling spread across industries. By the end of trading, ten of the 11 sectors of the Standard and Poor's 500 index were down. It was the second day of broad declines, a weak start to a new quarter after solid returns in recent months.

Bank stocks bucked the downward trend in the market and moved higher. Citigroup rose 1.5 percent. Higher interest rates will mean higher profits from lending for banks.

The Dow Jones industrial average fell 85.40 points, or 0.5 percent, to 18,168.45. The S&P 500 fell 10.71 points, or 0.5 percent, to 2,150.49. The Nasdaq composite fell 11.22 points, or 0.2 percent, to 5,289.66.

A big driver of the day's trading was rates, with investors closely watching the yield of the benchmark 10-year Treasury note, which has risen as the price of the note has dropped. The yield on Tuesday rose to 1.69 percent, up more than a tenth of a percentage point in less than a week.

As the yields have risen, investors who had poured money into steady dividend payers like phone and real estate companies and utilities as alternatives to bonds have been selling because bonds are becoming more attractive as a source of income. Utilities have fallen 7 percent since Sept. 22, after soaring 21 percent in the first six months of the year.

"Some people have gotten into areas of the market that act like pseudo-bonds, stocks masquerading as bonds," and now are shifting money out, said Tim Courtney, chief investment officer of Excencial Wealth Advisors. "The markets are reacting very badly to the increases."

On Monday, a key manufacturing gauge in the U.S. showed surprisingly strength. Then an official at the Federal Reserve Bank of Cleveland, a "hawk" who believes the central bank should be raising rates, reiterated her position in a Bloomberg interview.

Investors are looking ahead to a report on job creation out Friday to better gauge how soon the Fed will act. The Fed is expected by most investors to wait until December to raise rates.

Bill Strazzullo, chief market strategist at Bell Curve Trading, said investors are hoping for a continued "goldilocks" situation of modest economic growth.

"The best thing for the market right now is for the economy to be strong enough to dispel the fear of recession," he said, "but not too strong that it accelerate the Fed tightening process."

The price of gold dropped sharply as investors anticipated that rates would keep rising. Higher rates diminish the appeal of gold, which investors tend to favor when they fear that low rates will encourage inflation. Gold slumped $43, or 3.3 percent, to $1,269.70 an ounce.

Among stocks making news, Newell Brands rose 65 cents, or 1.2 percent, to $51.60 after announcing it will sell 10 percent of its businesses, including part of its outdoor segment and its consumer storage unit. The company owns Mr. Coffee, Paper Mate, Elmer's and other brands.

The U.S.-listed shares of Deutsche Bank rose 35 cents, or 2.7 percent, to $13.33. Germany's biggest bank has been under pressure since it revealed the U.S. Justice Department had proposed at $14 billion payment to settle an investigation into the bank's dealings in risky mortgage bonds. Its shares have been rising recently on a news report Friday that a lower fine was in the offing.

In overseas markets, Britain's FTSE 100 jumped 1.3 percent, just shy of its all-time high of 7,122, as the pound continues to sink after the country's prime minister gave a clear timetable on Sunday for exiting the European Union. The pound is now near a 31-year low of $1.2741. A weaker pound makes the products and services of FTSE-listed multinationals cheaper abroad, boosting earnings.

Germany's DAX was 1 percent higher while the CAC-40 in France rose 1.1 percent.

In other metals trading, silver fell $1.09, or 5.8 percent, to $17.78 an ounce and copper fell 3 cents to $2.17 a pound.

U.S. benchmark crude oil fell 12 cents to close at $48.69 a gallon. Brent crude, the international standard, slipped 2 cents to close at $50.87 a barrel in London. Wholesale gasoline rose 3 cents to $1.50 a gallon, heating oil was little changed at $1.55 a gallon and natural gas increased 4 cents to $2.963 per 1,000 cubic feet.

In currency markets, the euro slipped to $1.1197 from $1.1215 and the dollar rose to 102.81 yen from 101.57 yen.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	112.58	points or ▲	0.62%	on	Wednesday, October 5, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,281.03	▲	112.58	▲	0.62%		
	Nasdaq____	5,316.02	▲	26.36	▲	0.50%		
	S&P_500___	2,159.73	▲	9.24	▲	0.43%		
	30_Yr_Bond____	2.44	▲	0.03	▲	1.25%		

NYSE Volume	 3,866,515,250 	 	 	 	 	  		 
Nasdaq Volume	 1,722,318,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,033.25	▼	-41.09	▼	-0.58%		
	DAX_____	10,585.78	▼	-33.83	▼	-0.32%		
	CAC_40__	4,489.95	▼	-13.14	▼	-0.29%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,537.00	▼	-32.90	▼	-0.59%		
	Shanghai_Comp	3,004.70	▲	6.22	▲	0.21%		
	Taiwan_Weight	9,272.28	▼	-15.49	▼	-0.17%		
	Nikkei_225___	16,819.24	▲	83.59	▲	0.50%		
	Hang_Seng.__	23,788.31	▲	98.87	▲	0.42%		
	Strait_Times.__	2,881.79	▼	-2.85	▼	-0.10%		
	NZX_50_Index_	7,271.16	▼	-81.30	▼	-1.11%		

http://finance.yahoo.com/news/stocks-rise-broadly-morning-trading-142729043.html

*Banks, energy companies lead stock market higher*

NEW YORK (AP) -- The stock market broke two days of losses on Wednesday with solid gains as investors piled into shares of banks and energy companies.

Stocks jumped from the start on a rise in the price of crude oil, with banks joining the rally after a strong report on the service sector suggested the Federal Reserve may raise interest rates soon. Banks can benefit when rates rise because it allows them to charge more for their loans. Bank of America rose 2 percent.

The yield on government bonds rose again, and investors dumped phone and real estate companies, sending them down nearly 2 percent. Investors find them less attractive as a source of income relative to bonds when yields are rising.

The Dow Jones industrial average climbed 112.58 points, or 0.6 percent, to 18,281.03. The Standard & Poor's 500 index gained 9.24 points, or 0.4 percent, to 2,159.73. The Nasdaq composite rose 26.36 points, or 0.5 percent, to 5,316.02.

The price of U.S. benchmark crude closed near $50 a barrel, its highest price since late June, after a U.S. government report said energy stockpiles shrank last week, a surprise to most analysts. Chesapeake Energy rose 43 cents to $6.80, a 6.8 percent gain, the biggest in the S&P 500 index.

Investors have been pushing crude sharply higher since OPEC announced a preliminary deal last week that would limit production, and the price is now nearly double its February low of $26.

A private report showed that U.S. service companies grew last month at the fastest pace in nearly a year. The Institute for Supply Management said that its services index jumped to 57.1 in September, the highest point since October last year, the latest in a string of indicators that the economy is gaining strength.

Investors took that as a sign that the Federal Reserve is more likely to raise rates from super-low levels this year, and pushed yields on government bonds higher. The yield on the 10-year Treasury note rose to 1.71 percent from 1.69 percent, and is now up about a tenth of percentage point since the start of the week, a big move.

Investors had been buying high-dividend stocks like utilities and phone and real estate companies as an alternative source of income to bonds, but are now having second thoughts as yields rise.

"Interest rates have been incredibly low, maybe artificially low, and everyone was chasing something with income, and they were blindly chasing them," said Eric Ervin, chief executive of Reality Shares, an investment firm. The rush out of the one-time high flyers, he added, is a "sign of normality."

Among stocks making big moves, Constellation Brands rose $2.75, or 1.7 percent, to $168.60 after it reported strong sales of beers like Corona and Modelo in its latest quarter. It raised its projections for sales growth for its beer business.

Consulting firm Booz Allen Hamilton fell $1.19, or 3.8 percent, to $30.31. Federal prosecutors said a contractor for the National Security Agency had been arrested on charges that he illegally removed highly classified information, and The New York Times reported that the contractor worked for Booz Allen. The firm said it had fired an employee who had been arrested by the FBI.

In Europe, the major indexes fell. Britain's FTSE 100 lost 0.6 percent and France's CAC 40 retreated 0.3 percent. Germany's DAX also dropped 0.3 percent.

The euro rose to $1.1217 from $1.1197 and the dollar rose to 103.63 yen from 102.81.

Precious and industrial metals futures closed lower. Gold lost $1.10 to $1,268.60 an ounce, silver fell 8 cents to $17.70 an ounce and copper was little changed at $2.16 a pound.

The price of U.S. benchmark crude rose $1.14, or 2.3 percent, to end at $49.83 a barrel. Brent crude, the international standard, gained 99 cents, or 1.9 percent, to close at $51.86 a barrel in London

In other energy trading, wholesale gasoline slipped 1 cent to $1.49 a gallon, heating oil rose 3 cents to $1.58 a gallon and natural gas rose 8 cents to $3.041 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-12.53	points or ▼	-0.07%	on	Thursday, October 6, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,268.50	▼	-12.53	▼	-0.07%		
	Nasdaq____	5,306.85	▼	-9.17	▼	-0.17%		
	S&P_500___	2,160.77	▲	1.04	▲	0.05%		
	30_Yr_Bond____	2.46	▲	0.02	▲	0.99%		

NYSE Volume	 3,433,031,500 	 	 	 	 	  		 
Nasdaq Volume	 1,608,478,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,999.96	▼	-33.29	▼	-0.47%		
	DAX_____	10,568.80	▼	-16.98	▼	-0.16%		
	CAC_40__	4,480.10	▼	-9.85	▼	-0.22%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,564.80	▲	27.80	▲	0.50%		
	Shanghai_Comp	3,004.70	▲	6.22	▲	0.21%		
	Taiwan_Weight	9,284.31	▲	12.03	▲	0.13%		
	Nikkei_225___	16,899.10	▲	79.86	▲	0.47%		
	Hang_Seng.__	23,952.50	▲	164.19	▲	0.69%		
	Strait_Times.__	2,885.22	▲	3.43	▲	0.12%		
	NZX_50_Index_	7,197.29	▼	-73.87	▼	-1.02%		

http://finance.yahoo.com/news/stocks-turn-broadly-lower-giving-gains-day-142826870.html

*Stocks end mixed after clawing back from broad losses*

NEW YORK (AP) ”” Stocks recovered from a broad decline to end mixed on Thursday, a day ahead of a key jobs report.

The market fell from the start, then drifted between gains and losses for much of the afternoon. Yields on Treasury bonds rose again, and the price of oil climbed past $50 a barrel for the first time since June.

By the end of trading, seven of the 11 sectors of the Standard and Poor's 500 index rose, led by suppliers of basic materials. Health care companies and phone companies led the decliners.

The S&P 500 inched up 1.04 points, or 0.05 percent, to 2,160.77. The Dow Jones industrial average fell 12.53 points, less than 0.1 percent, to 18,268.50. The Nasdaq composite slipped 9.17 points, or 0.2 percent, to 5,306.85.

A report showing a low number of Americans seeking jobless benefits last week added to recent data suggesting that the economy is strengthening and that the Federal Reserve is likely to raise interest rates soon. Super-low rates have helped fuel the seven-year bull market.

Investors reacted just as they did to solid numbers on the manufacturing and service sectors earlier in the week: They sold Treasury bonds, sending yields up. The yield on the 10-year note rose to 1.74 percent from 1.71 percent on Wednesday, and is now up nearly two tenths of a point in a week, a big move.

Still, stocks investors generally showed little conviction, with none of the industry groups of the S&P 500 moving more than 0.8 percent in either direction.

"Interest rates, presidential elections ... there is a lot of uncertainty," said Jonathan D. Corpina, senior managing partner at Meridian Equity Partners. "Portfolio managers are still waiting to see how to position themselves."

On Friday, investors will get a clue on how quickly rates may rise when a report on the number of jobs created last month is released.

In stocks making moves on Thursday, Twitter plunged $5, or 20 percent, to $19.87 on reports that some companies that were believed to be interested in buying it will not. Rumors of a deal had sent Twitter up 33 percent in the 11 trading days through Wednesday.

Mylan slumped $1.19, or 3 percent, to $36.84 following reports the company overcharged Medicaid over five years for its EpiPen allergy treatment.

Wal-Mart fell $2.31, or 3.2 percent, to $69.36 after the world's largest retailer said it expects no earnings per share growth in its next fiscal year and will slow its store expansion plans.

Investors will turn their attention to the start of corporate earnings next week. Companies in the S&P 500 are expected to report that earnings per share fell 2 percent in the third quarter compared to the year earlier period, according to FactSet, a data provider. That would mark the sixth quarter in a row in declines.

That is a remarkable development given that stocks are near record highs, though many investors expect this so-called earnings recession to end in the fourth quarter this year.

James Abate, chief investment officer of Centre Asset Management, is not one of them.

"The stock market is increasingly becoming detached from the underlying trend in earnings," he said. Investors, he added, are far too optimistic.

In currency markets on Thursday, the dollar continued its climb. It rose to 104.14 yen, its highest level in a month, from 103.64 yen. The euro slipped to $1.1141 from $1.1212.

In European trading, Germany's DAX and France's CAC-40 each shed 0.2 percent. Britain's FTSE 100 slipped 0.5 percent.

The British pound continued to drop on concerns that the country is moving ahead with its decision to the leave the European Union and could exit the bloc's tariff-free single market. The pound fell 0.8 percent to $1.2608, its lowest level since the June 23 vote to leave the EU.

U.S. benchmark crude oil rose 61 cents to close at $50.44 a barrel in the New York, its first close above $50 a barrel since June 23.

Brent crude, the international standard, rose 65 cents to close at $52.51 a barrel in London. Wholesale gasoline edged up less than 1 cent to $1.50 a gallon, heating oil rose 1 cent to $1.60 a gallon and natural gas rose less than 1 cent to $3.05 per 1,000 cubic feet.

The price of gold slumped $15.60 to $1,253 an ounce, silver fell 35 cents to $17.35 an ounce and copper lost 1 cent to $2.16 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-28.01	points or ▼	-0.15%	on	Friday, October 7, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,240.49	▼	-28.01	▼	-0.15%		
	Nasdaq____	5,292.40	▼	-14.45	▼	-0.27%		
	S&P_500___	2,153.74	▼	-7.03	▼	-0.33%		
	30_Yr_Bond____	2.47	▲	0.01	▲	0.33%		

NYSE Volume	 3,570,920,250 	 	 	 	 	  		 
Nasdaq Volume	 1,607,327,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,044.39	▲	44.43	▲	0.63%		
	DAX_____	10,490.86	▼	-77.94	▼	-0.74%		
	CAC_40__	4,449.91	▼	-30.19	▼	-0.67%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,548.50	▼	-16.30	▼	-0.29%		
	Shanghai_Comp	3,004.70	▲	6.22	▲	0.21%		
	Taiwan_Weight	9,265.81	▼	-18.50	▼	-0.20%		
	Nikkei_225___	16,860.09	▼	-39.01	▼	-0.23%		
	Hang_Seng.__	23,851.82	▼	-100.68	▼	-0.42%		
	Strait_Times.__	2,875.24	▼	-9.98	▼	-0.35%		
	NZX_50_Index_	7,167.81	▼	-29.48	▼	-0.41%		

http://abcnews.go.com/Business/wireStory/stocks-fall-wall-street-heads-weekly-decline-42650253

*Stocks End Lower to Cap First Weekly Loss in a Month
*
    By bernard condon, ap business writer

 Stocks ended slightly lower on Wall Street on Friday, giving the market its first weekly decline in a month.

The market edged up in early trading after a much anticipated report on hiring last month showed decent gains. It quickly turned lower and remained down for the rest of the day. Suppliers of basic materials and industrial companies lost the most.

The government reported that employers hired last month at a slower pace than forecast, but not slow enough to signal the economy is in trouble. That might have taken a widely anticipated interest rate hike later this year by the Federal Reserve off the table.

Bonds were little changed on the news. The yield on 10-year Treasury notes slipped to 1.72 percent from 1.74 percent.

Real estate and phone companies continued to long decline. Once favored by investors for their relative stability and steady dividends, they have become less attractive at the prospect of higher interest rates. Real estate companies lost 5 percent during the week, and phone companies slumped 3.8 percent.

"Everything that everyone had been buying for safety has gone down this week, and it's gone down big," said John Fox, chief investment officer of Fenimore Asset Management. "You have an unwinding of the low-rate trade."

The Dow Jones industrial average fell 28.01 points, or 0.2 percent, to 18,240.49. The Standard & Poor's 500 index lost 7.03 points, or 0.3 percent, to 2,153.74. The Nasdaq composite declined 14.45 points, or 0.3 percent, to 5,292.40.

Industrial companies were dragged down in part by Honeywell International, which lowered its earnings forecast. The company put out a press release citing lower shipments to aviation equipment makers and delays in its military and space businesses, among other things. Honeywell closed down $8.67, or 7.5 percent, to $106.94.

The jobs report showed that U.S. employers added 156,000 jobs last month, a decent gain but slightly below market expectations. Jobs growth has averaged 178,000 a month so far this year, down from last year's pace of 229,000.

Most investors expect the Fed to raise rates in December. It has held them near zero since 2008, a factor that many market watchers cite as a key driver of the seven-year bull run in stocks. Low interest rates make stocks appear relatively appealing compared to low-yielding bonds or CDs. They also make it easier for companies to borrow money to buy back their own stock.

"The world's largest economy looks to be sailing full steam ahead to a rate hike before the end of the year," said said Paul Sirani, chief market analyst at Xtrade.

Among stocks making big moves, Tyson Foods plunged $6.63, or 9 percent, to $67.75 after an analyst predicted a big drop in Tyson because of a lawsuit that accuses it and other companies of manipulating poultry prices.

Gap jumped $3.47, or 15 percent, to $26.25 after reporting September sales results that showed growth at its Old Navy chain. Other retailers rose, too.

Ruby Tuesday fell 17 cents, or 7 percent, to $2.34 after the restaurant chain reported a loss in its fiscal first quarter.

In currency markets, the British pound fell as much as 6 percent in what's being dubbed a "flash crash," to its lowest level in more than three decades. It eventually rebounded to $1.2435, down from $1.2605 on Thursday.

Britain's FTSE 100 rose 0.6 percent in the wake of the pound's latest decline. A lower currency potentially makes British exports more competitive as well as boosting the value of foreign earnings when brought back to the U.K.

Germany's DAX was down 0.7 percent while the CAC-40 in France fell 0.7 percent.

U.S. benchmark crude oil fell 63 cents to close at $49.81 a barrel in New York.

Brent crude, the international standard, fell 58 cents to close at $51.93 a barrel in London. Wholesale gasoline fell 2 cents to $1.48 a gallon, heating oil fell 2 cents to $1.58 a gallon and natural gas jumped 14 cents to $3.19 per 1,000 cubic feet.

The price of gold fell $1.10 to $1,251.90 an ounce, silver rose 4 cents to $17.38 an ounce and copper rose less than 1 cent to $2.16 a pound.

The euro rose to $1.1180 while the dollar fell to 103.07 yen.

2422


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-28.01	points or ▼	-0.15%	on	Monday, October 10, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,240.49	▼	-28.01	▼	-0.15%		
	Nasdaq____	5,292.40	▼	-14.45	▼	-0.27%		
	S&P_500___	2,153.74	▼	-7.03	▼	-0.33%		
	30_Yr_Bond____	2.47	▲	0.01	▲	0.33%		

NYSE Volume	 3,578,654,250 	 	 	 	 	  		 
Nasdaq Volume	 1,611,493,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,042.10	▼	-2.29	▼	-0.03%		
	DAX_____	10,478.87	▼	-11.99	▼	-0.11%		
	CAC_40__	4,435.29	▼	-14.62	▼	-0.33%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,555.50	▲	7.00	▲	0.13%		
	Shanghai_Comp	3,048.14	▲	43.44	▲	1.45%		
	Taiwan_Weight	9,265.81	▼	-18.50	▼	-0.20%		
	Nikkei_225___	16,860.09	▼	-39.01	▼	-0.23%		
	Hang_Seng.__	23,851.82	▼	-100.68	▼	-0.42%		
	Strait_Times.__	2,869.05	▼	-6.19	▼	-0.22%		
	NZX_50_Index_	7,116.92	▼	-50.89	▼	-0.71%		

http://finance.yahoo.com/news/us-stocks-jump-energy-companies-141746037.html

*US stocks rise as energy companies and Apple move higher*

NEW YORK (AP) ”” U.S. stocks rose Monday as crude oil jumped to its highest price in more than a year and energy companies climbed with it. Investors also reacted to the latest twists in the presidential race.

Oil rose after Russia's government said it supports efforts by OPEC to cut oil production. Apple reached its highest price of the year and led tech stocks higher after new reports of fires affecting Samsung's Galaxy Note 7 phone, which competes with Apple's iPhone. Early in the day stocks were on track for far larger gains.

Steve Chiavarone, an associated portfolio manager for Federated Investors, said a tumultuous weekend for Republican candidate Donald Trump contributed to the market's gains. He said investors mostly expect Democratic candidate Hillary Clinton to win, and they are concerned about the effect Trump's trade proposals would have on the market and the economy.

"What you're seeing in the market is a cheering of the status quo," he said. In his view, that's because investors understand Clinton's views and what her administration might look like even though they may disagree with her on issues like tax policy.

The Dow Jones industrial average picked up 88.55 points, or 0.4 percent, to 18,329.04. The index rose as much as 159 points earlier. The Standard & Poor's 500 index rose 9.92 points, or 0.5 percent, to 2,163.66. The Nasdaq composite added 36.27 points, or 0.7 percent, to 5,328.67.

Russian President Vladimir Putin said Monday that Russia supports OPEC's efforts to cut oi production. In late September the nations of OPEC announced a preliminary agreement to trim oil production, but Russia, a major energy producer, isn't a member of OPEC.

Benchmark U.S. crude rose $1.54, or 3.1 percent, to $51.35 a barrel in New York. That was its highest closing price since July 2015. Brent crude, used to price international oils, gained $1.21, or 2.3 percent, to $53.14 a barrel in London. Exxon Mobil climbed $1.70, or 2 percent, to $88.44 and Devon Energy added $1.58, or 33.7 percent, to $44.39.

Apple climbed $1.99, or 1.7 percent, to $116.05 as investors hope it will be able to sell more iPhones as competitor Samsung faced new problems with its Galaxy Note 7. Samsung said it has changed its production of the phones following reports that some of its replacement phones are overheating and catching fire, just as the original version of the phone did before Samsung recalled it last month. Samsung did not confirm or deny a report from a Korean news agency that it suspended production of the Note 7 phone.

Drugmaker Mylan gained $2.93, or 8.2 percent, to $38.87. On Friday the company agreed to pay $465 million to settle allegations it overcharged the Medicaid program for its EpiPen allergy shot. Legislators and federal health authorities had said Mylan wrongly classified EpiPen as a generic drug instead of a brand-name one, which meant Mylan paid lower rebates to federal and state Medicaid programs. The stock is down 20 percent since late August.

Bristol-Myers Squibb plunged again after the company reported more data from a study of its drug Opdivo in lung cancer patients. It fell $5.62, or 10.1 percent, to $49.81. Rival Merck rose $1.13, or 1.8 percent, to $63.90 as investors were pleased with results from a study of its cancer treatment Keytruda. Bristol-Myers stock has dropped 34 percent since the company announced initial results from that trial in early August, which has sent to almost two-year lows. Merck is up 10 percent over the same time.

The Mexican peso grew stronger following Trump's calamitous weekend. Trump has criticized Mexico and its trade agreements with the U.S., so the peso has become something of an indicator of how investors feel about the election. The currency has tended to weaken when investors feel Trump is doing better and gets stronger when investors feel more confident in Hillary Clinton's chances. The U.S. buys about 80 percent of Mexico's exports, which gives it a big influence on the Mexican economy.

Following the peso's surge Monday, one U.S. dollar bought just 18.92 pesos, versus the 19.26 pesos it bought on Friday. The peso has weakened sharply this year but is currently the strongest it's been in about a month.

Twitter continued to fall as investors grew less optimistic that the company will be sold. Twitter sank $2.29, or 11.5 percent, to $17.56. It fell 20 percent Thursday on reports that possible buyers including Apple and Alphabet had decided not to make offers. Twitter has been on a big run since late July on rumors the company might be sold. The stock is now the lowest it's been since early August


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-200.38	points or ▼	-1.09%	on	Tuesday, October 11, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,128.66	▼	-200.38	▼	-1.09%		
	Nasdaq____	5,246.79	▼	-81.89	▼	-1.54%		
	S&P_500___	2,136.73	▼	-26.93	▼	-1.24%		
	30_Yr_Bond____	2.49	▲	0.04	▲	1.55%		

NYSE Volume	 3,370,954,500 	 	 	 	 	  		 
Nasdaq Volume	 1,777,592,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,070.88	▼	-26.62	▼	-0.38%		
	DAX_____	10,577.16	▼	-46.92	▼	-0.44%		
	CAC_40__	4,471.74	▼	-25.52	▼	-0.57%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,562.20	▲	6.70	▲	0.12%		
	Shanghai_Comp	3,065.25	▲	17.11	▲	0.56%		
	Taiwan_Weight	9,219.82	▼	-45.99	▼	-0.50%		
	Nikkei_225___	17,024.76	▲	164.67	▲	0.98%		
	Hang_Seng.__	23,549.52	▼	-302.30	▼	-1.27%		
	Strait_Times.__	2,856.13	▼	-14.11	▼	-0.49%		
	NZX_50_Index_	7,124.23	▲	7.31	▲	0.10%		

http://finance.yahoo.com/news/us-stock-indexes-move-lower-143148744.html

*US stock indexes head sharply lower; oil falls*

A batch of disappointing company earnings news helped put investors in a selling mood Tuesday, pulling U.S. stocks sharply lower.

Health care companies led the broad market slide, which more than wiped out gains from the day before. Materials, utilities and technology stocks were among the big decliners. Energy stocks also closed lower as crude oil prices declined.

Several companies, including Alcoa, reported quarterly results that fell short of Wall Street's expectations. While investors will get to size up earnings from many more companies in coming weeks, the downbeat start to the third-quarter earnings season weighed on the market, said JJ Kinahan, chief strategist at TD Ameritrade.

"It's just a bad tone to get us started," Kinahan said. "We've also been in a really low-volatility environment. This is the first day we've seen some heavier trade in a while."

The Dow Jones industrial average fell 200.38 points, or 1.1 percent, to 18,128.66. Earlier, the average was down as much as 267 points. The Standard & Poor's 500 index lost 26.93 points, or 1.2 percent, to 2,136.73. The Nasdaq composite index slid 81.89 points, or 1.5 percent, to 5,246.79.

Indexes headed lower from the start of trading Tuesday and never got out of the red. Traders hammered shares in Alcoa and genetics research company Illumina after the companies reported results that fell short of financial analysts' forecasts.

Alcoa, which is due to split into two companies on Nov. 1, slid $3.60, or 11.4 percent, to $27.91. Illumina sank $45.86, or 24.8 percent, to $138.99.

Fastenal also delivered quarterly results that failed to impress investors. The maker of industrial and construction fasteners fell $2.16, or 5.1 percent, to $39.96.

Traders also sold shares in St. Jude Medical after the medical device maker warned that the lithium battery in some of its implanted heart devices may run out of energy prematurely. The stock lost $2.87, or 3.5 percent, to $78.41. Shares in Abbott Laboratories, which in April agreed to buy St. Jude for $25 billion, also fell. Abbott slid $2.34, or 5.4 percent, to $41.16.

Some companies benefited from others' bad news.

Apple was got a slight boost after rival Samsung announced it was discontinuing its Galaxy Note 7 phone permanently because of overheating handsets. The Galaxy Note 7 competed with Apple's iPhone. Apple gained 25 cents to $116.30.

Crude oil prices fell a day after spiking to their highest level in a year, a move that disappointed some investors.

"Many people thought crude would use its momentum to make a run at its recent highs and it completely faded," Kinahan said.

Benchmark U.S. crude oil lost 56 cents, or 1.1 percent, to close at $50.79 a barrel in New York. Brent, the international standard, slid 73 cents, or 1.4 percent, to close at $52.41 a barrel in London.

In other energy trading, wholesale gasoline fell a penny to $1.48 a gallon. Heating oil slipped 2 cents to $1.59 a gallon. Natural gas shed 4 cents to $3.24 per 1,000 cubic feet.

The major stock indexes in Europe also closed lower.

Germany's DAX fell 0.4 percent, while France's CAC 40 slid 0.6 percent. Britain's FTSE 100 slipped 0.4 percent. Markets in Asia were mixed. Japan's benchmark Nikkei 225 rose 1.0 percent, while Australia's S&P/ASX 200 added 0.1 percent. South Korea's Kospi lost 1.2 percent. Hong Kong's Hang Seng dropped 1.4 percent.

In metals trading, gold fell $4.50 to $1,255.90 an ounce. Silver slid 15 cents to $17.51 an ounce. Copper dropped a penny to $2.19 a pound.

Bond prices fell. The yield on the 10-year Treasury rose to 1.77 percent from 1.72 on Friday. Bond markets were closed Monday.

In currency markets, the dollar strengthened to 103.41 yen from 103.68 on Monday. The euro fell to $1.1053 from $1.1139.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	15.54	points or ▲	0.09%	on	Wednesday, October 12, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,144.20	▲	15.54	▲	0.09%		
	Nasdaq____	5,239.02	▼	-7.77	▼	-0.15%		
	S&P_500___	2,139.18	▲	2.45	▲	0.11%		
	30_Yr_Bond____	2.51	▲	0.02	▲	0.60%		

NYSE Volume	 2,942,157,500 	 	 	 	 	  		 
Nasdaq Volume	 1,536,769,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,024.01	▼	-46.87	▼	-0.66%		
	DAX_____	10,523.07	▼	-54.09	▼	-0.51%		
	CAC_40__	4,452.24	▼	-19.50	▼	-0.44%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,555.20	▼	-7.00	▼	-0.13%		
	Shanghai_Comp	3,058.50	▼	-6.75	▼	-0.22%		
	Taiwan_Weight	9,252.60	▲	32.78	▲	0.36%		
	Nikkei_225___	16,840.00	▼	-184.76	▼	-1.09%		
	Hang_Seng.__	23,407.05	▼	-142.47	▼	-0.60%		
	Strait_Times.__	2,813.71	▼	-42.42	▼	-1.49%		
	NZX_50_Index_	7,107.46	▼	-16.77	▼	-0.24%		

http://finance.yahoo.com/news/wall-street-set-open-lower-125917994.html

*Wall Street stocks close slightly higher after Fed minutes*

(Reuters) - The S&P 500 and the Dow Jones industrial average indexes ended Wednesday's session with small gains as expectations for timing on a rate hike were largely unchanged after U.S. Federal Reserve minutes and investors waited on earnings reports.

Several voting policymakers judged a rate hike would be warranted "relatively soon" if the U.S. economy continued to strengthen, according to minutes from the September policy meeting released Wednesday afternoon.

While keeping rates low has risks, the Fed decided it was more risky to raise rates when they are concerned we might be seeing a slowdown in economic growth, said Kate Warne, investment strategist at Edward Jones in St. Louis.

"Unfortunately, they also didn’t provide a lot of clarity,” Warne said.

Traders have priced in small odds of a rate increase next month as the meeting falls days ahead of the Nov. 8 U.S. presidential election. The odds were still in favour of a December move, but down to 66 percent from 71 percent the day before, according to CME Group's FedWatch tool.

With little news from the Fed, investors will see what earnings look like before they buy more stocks, said Steve Massocca, Chief Investment Officer, Wedbush Equity Management LLC in San Francisco.


Overall, S&P 500 third-quarter earnings are currently expected to fall 0.7 percent, marking the fifth quarter of negative earnings in a row, according to Thomson Reuters data.

The Dow Jones industrial average (.DJI) rose 15.54 points, or 0.09 percent, to 18,144.2, the S&P 500 (.SPX) gained 2.45 points, or 0.11 percent, to 2,139.18 and the Nasdaq Composite (.IXIC) dipped 7.77 points, or 0.15 percent, to 5,239.02.

The biggest weight on Nasdaq was Cisco Systems (CSCO.O), which fell after rival Ericsson (ERIC.O) (ERICb.ST) reported a huge profit decline

Eight of the 11 major S&P 500 indexes closed higher, led by real estate's (.SPLRCR) 1.3-percent rise and a 1 percent increase in utilities (.SPLRCU).

Investors in both yield-sensitive sectors may have feared a more hawkish Fed, according to Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois.

Healthcare and energy were the weakest sectors with an 0.55 percent decline in the S&P 500 healthcare index (.SPXHC) and an 0.41 percent decline for energy (.SPNY) percent. Oil prices fell after OPEC reported its September output at eight-year highs.

Humana Inc (HUM.N) was the biggest loser on the S&P. The insurer said a U.S. government health department cut its quality rating on Humana Medicare plans, a move that could affect how much the government pays it in 2018.

Advancing issues outnumbered declining ones on the NYSE by a 1.10-to-1 ratio.

About 5.6 billion shares changed hands on U.S. exchanges, below the 6.77 billion daily average over the last 20 sessions.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	39.44	points or ▲	0.22%	on	Friday, October 14, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,138.38	▲	39.44	▲	0.22%		
	Nasdaq____	5,214.16	▲	0.83	▲	0.02%		
	S&P_500___	2,132.98	▲	0.43	▲	0.02%		
	30_Yr_Bond____	2.56	▲	0.08	▲	3.27%		

NYSE Volume	 3,185,757,750 	 	 	 	 	  		 
Nasdaq Volume	 1,606,118,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,013.55	▲	35.81	▲	0.51%		
	DAX_____	10,580.38	▲	166.31	▲	1.60%		
	CAC_40__	4,470.92	▲	65.75	▲	1.49%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,518.50	▲	0.20	▲	0.00%		
	Shanghai_Comp	3,063.81	▲	2.46	▲	0.08%		
	Taiwan_Weight	9,165.17	▼	-54.00	▼	-0.59%		
	Nikkei_225___	16,856.37	▲	82.13	▲	0.49%		
	Hang_Seng.__	23,233.31	▲	202.01	▲	0.88%		
	Strait_Times.__	2,815.24	▲	9.76	▲	0.35%		
	NZX_50_Index_	7,133.26	▲	13.21	▲	0.19%		

http://finance.yahoo.com/news/us-stocks-rise-banks-rebound-142852544.html

NEW YORK (AP) — U.S. stocks gave up large gains and finished barely higher Friday. Banks and technology companies traded higher, while stocks that pay large dividends fell thanks to a jump in bond yields.

Stocks were on track for large gains early in the day as reports showed consumers in both the U.S. and China appeared to be spending more. Banks rose after JPMorgan Chase and Citigroup disclosed solid quarterly results. But the gains faded as the day wore on. Drug company stocks continued to fall and energy companies slipped.

"The retail sales numbers on the surface looked pretty good but when you dig into them they were not that great," said Mike Baele, managing director at U.S. Bank's Private Client Reserve. "It seems like every good report we get, we get an offsetting weaker report."

The Dow Jones industrial average, which had jumped as much as 162 points in the morning, finished up 39.44 points, or 0.2 percent, at 18,138.38. The Standard & Poor's 500 inched up 0.43 points to 2,132.98. The Nasdaq composite gained 0.83 points to 5,214.16.

Goldman Sachs was responsible for most of the Dow's gains. It rose $3.10, or 1.9 percent, to $170.52 after Britain's High Court threw out a $1 billion lawsuit against the company. Libya's sovereign wealth fund had accused Goldman Sachs of duping the fund into making risky deals.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.80 percent from 1.75 percent. Higher bond yields also help banks because they lead to higher interest rates on loans, and that allows banks to make bigger profits from lending.

JPMorgan Chase and Citigroup reported results were better than investors expected. The reports may have raised investor hopes for companies that will report their results next week, like Morgan Stanley, Charles Schwab, and BlackRock.

"It was a good kickoff to earnings season" for banks, said Baele. "It was actually some decent revenue as well with both investment banking and trading."

Rising bond yields attracted investors' attention, and they sold utilities, real estate investment trusts, and other stocks that pay large dividends as a result. Those payments are more appealing to investors seeking income when bond yields are low. PG&E Corp. fell 57 cents to $59.80 and Duke Energy slid 73 cents to $77.21.

The Commerce Department said retail sales bounced back in September as spending on restaurants, cars and gas improved. The agency also said business stockpiles and sales grew in August, which is a sign that economic growth could get stronger.

Reports suggested consumers in China are starting to spend more, which helped technology companies recover some of Thursday's losses. Microsoft climbed 50 cents to $57.42 while Intel rose 48 cents, or 1.3 percent, to $37.45 and Apple picked up 68 cents to $117.66.

While retail spending rose, the Commerce Department's report also showed that spending at department stores decreased in September as consumers continued to do more of their shopping online. Kohl's lost $1.44, or 3.2 percent, to $43.68 and Macy's fell $1.23, or 3.3 percent, to $35.57.

Computer and printer maker HP said it will cut between 3,000 and 4,000 jobs over the next three years as demand for those products continues to fall. HP stock lost 67 cents, or 4.4 percent, to $14.48.

Twitter fell 91 cents, or 5.1 percent, to $16.88 after Salesforce.com told the Financial Times it isn't interested in buying the company. Twitter has lost 32 percent of its value since October 5th on reports that potential buyers were not going to make offers. Salesforce investors were not enthusiastic about the potential offer, and its stock jumped $3.64, or 5.2 percent, to $74.27.

U.S. crude oil gave up 9 cents to $50.35 a barrel in New York. Brent crude, the international standard, fell 8 cents to $51.95 a barrel in London. That sent energy companies lower.

Health care stocks, which are by far the worst-performing industry on the S&P 500 this year, continued to slip. EpiPen maker Mylan lost $1.39, or 3.7 percent, and closed at a three-year low of $36.49. Cancer drug maker Celgene sank $2.13, or 2.1 percent, to $98.50.

In other energy trading, wholesale gasoline added 1 cent to $1.49 a gallon. Heating oil lost 1 cent to $1.57 a gallon. Natural gas slumped 6 cents, or 1.7 percent, to $3.29 per 1,000 cubic feet.

2967


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-51.98	points or ▼	-0.29%	on	Monday, October 17, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,086.40	▼	-51.98	▼	-0.29%		
	Nasdaq____	5,199.82	▼	-14.34	▼	-0.27%		
	S&P_500___	2,126.50	▼	-6.48	▼	-0.30%		
	30_Yr_Bond____	2.52	▼	-0.03	▼	-1.25%		

NYSE Volume	 2,820,868,000 	 	 	 	 	  		 
Nasdaq Volume	 1,411,689,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,947.55	▼	-66.00	▼	-0.94%		
	DAX_____	10,503.57	▼	-76.81	▼	-0.73%		
	CAC_40__	4,450.23	▼	-20.69	▼	-0.46%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,470.90	▼	-47.60	▼	-0.86%		
	Shanghai_Comp	3,041.17	▼	-22.64	▼	-0.74%		
	Taiwan_Weight	9,176.22	▲	11.05	▲	0.12%		
	Nikkei_225___	16,900.12	▲	43.75	▲	0.26%		
	Hang_Seng.__	23,037.54	▼	-195.77	▼	-0.84%		
	Strait_Times.__	2,817.07	▲	1.83	▲	0.07%		
	NZX_50_Index_	7,066.37	▼	-66.89	▼	-0.94%		

http://finance.yahoo.com/news/us-st...en-small-gains-losses-142846513--finance.html

*US stock indexes close modestly lower as energy prices fall*

Major U.S. stock indexes closed modestly lower Monday, with some of the biggest declines coming in oil and gas companies as energy prices turned lower.

Companies that rely on consumer spending also lost ground. Utilities and telecom stocks, which pay large dividends, bucked the downward trend as bond yields fell.

Investors had their eye on corporate earnings. Some 80 of the companies in the Standard & Poor's 500 index are scheduled to report their quarterly results this week. How those companies fared in the third quarter, and how they see their prospects for growth in coming months, should give traders a better handle on the state of the economy.

"You have a market that is trying to decipher where the economy is headed, what companies are telling us and what the Fed is poised to do come December," said Quincy Krosby, market strategist at Prudential Financial.

The Dow Jones industrial average lost 51.98 points, or 0.3 percent, to 18,086.40. The average was down as much as 75 points earlier in the day. It's two biggest decliners: McDonald's and Nike, each down 1 percent.

The S&P 500 index slid 6.48 points, or 0.3 percent, to 2,126.50. The Nasdaq composite index fell 14.34 points, or 0.3 percent, to 5,199.82.

The three indexes have posted weekly declines the past two weeks. The Dow and Nasdaq are up about 3.8 percent for the year, while the S&P 500 is up 4 percent.

The market action got off to an uneven start on Monday as traders pored over company earnings. The major indexes wavered between small gains and losses in the first couple of hours of trading, before settling into the red by midday.

Hasbro surged 7.4 percent, the biggest gainer in the S&P 500, after the toy maker posted better-than-expected revenue in its latest quarter. The stock climbed $5.66 to $81.82. Shares in rival Mattel got a slight bump. The company, which is due to report quarterly results on Wednesday, rose 8 cents, 0.3 percent, to $30.18.

Bank of America also reported encouraging third-quarter results, including earnings that climbed nearly 6 percent from a year earlier, helped by strong results in investment banking and trading. The stock added 5 cents, or 0.3 percent, to $16.05.

J.B. Hunt Transport Services' results fell short of Wall Street's forecasts. The stock slid $1.57, or 2 percent, to $78.45.

Netflix vaulted 19 percent in aftermarket trading after reporting earnings that were far higher than analysts were expecting.

As has become the pattern in recent quarters, financial analysts have forecast earnings for the third quarter to be down overall from a year ago, largely due to the downbeat energy sector.

While the energy sector leads all others in the S&P 500, up 14.2 percent for the year, it was among the biggest laggards again on Monday.

Southwestern Energy was the biggest decliner in the S&P 500, sliding 43 cents, or 3.3 percent, to $12.47. Chesapeake Energy fell 21 cents, or 3.2 percent, to $6.35. Devon Energy shed $1.31, or 3 percent, to $41.77.

Beyond earnings, investors also bid up shares in SuperValu after the grocery store and logistics company agreed to sell its Save-A-Lot unit to Canadian private equity firm Onex Corp. for $1.37 billion. The stock added 29 cents, or 5.8 percent, to $5.30.

European markets fell as a broad rise in government bond yields suggested investors are expecting less central bank stimulus and higher interest rates than before.

Germany's DAX slid 0.7 percent, while France's CAC 40 fell 0.5 percent. Britain's FTSE 100 lost 0.9 percent. Earlier in Asia, Japan's benchmark Nikkei 225 wobbled but finished 0.3 percent higher. South Korea's Kospi rose 0.2 percent, while Australia's S&P/ASX 200 dipped 0.8 percent. Hong Kong's Hang Seng fell 0.8 percent. The SET of Thailand dropped 0.2 percent. Other markets in Southeast Asia were mostly lower.

U.S. benchmark crude oil fell 41 cents, or 0.8 percent, to close at $49.94 a barrel in New York. Brent crude, the international standard, lost 43 cents, or 0.8 percent, to close at $51.52 a barrel in London.

Other energy futures were closed flat or lower. Wholesale gasoline was little changed at $1.49 a gallon. Heating oil lost 1 cent to $1.57 a gallon. Natural gas fell 4 cents, or 1.2 percent, to $3.24 per 1,000 cubic feet.

In metals trading, the price of gold rose $1.10 to $1,256.60 an ounce, while silver added 3 cents to $17.47 an ounce. Copper was little changed at $2.11 a pound.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.77 percent from 1.80 late Friday.

In currency markets, the dollar weakened to 103.85 yen from 104.18 on Friday, while the euro strengthened to $1.0997 from $1.0983.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	75.54	points or ▲	0.42%	on	Tuesday, October 18, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,161.94	▲	75.54	▲	0.42%		
	Nasdaq____	5,243.84	▲	44.01	▲	0.85%		
	S&P_500___	2,139.60	▲	13.10	▲	0.62%		
	30_Yr_Bond____	2.51	▼	-0.01	▼	-0.44%		

NYSE Volume	 3,114,258,250 	 	 	 	 	  		 
Nasdaq Volume	 1,445,172,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,000.06	▲	52.51	▲	0.76%		
	DAX_____	10,631.55	▲	127.98	▲	1.22%		
	CAC_40__	4,508.91	▲	58.68	▲	1.32%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,492.00	▲	21.10	▲	0.39%		
	Shanghai_Comp	3,083.88	▲	42.71	▲	1.40%		
	Taiwan_Weight	9,222.58	▲	46.36	▲	0.51%		
	Nikkei_225___	16,963.61	▲	63.49	▲	0.38%		
	Hang_Seng.__	23,394.39	▲	356.85	▲	1.55%		
	Strait_Times.__	2,830.63	▲	13.56	▲	0.48%		
	NZX_50_Index_	6,973.09	▼	-93.28	▼	-1.32%		

http://finance.yahoo.com/news/us-stocks-climb-early-trading-142240824.html

*US stocks rebound on strong company earnings; oil rises*

Surprisingly strong earnings from Netflix, UnitedHealth Group and other companies put investors in a buying mood Tuesday, driving U.S. stocks solidly higher.

Health care stocks led the gainers. Materials, utilities and a broad swath of other companies also posted gains. Industrials and consumer-focused stocks notched the smallest gains. Energy stocks also rose as the price of crude oil recovered from an earlier slide.

The rally wiped out the market's losses from the day before.

"We've had five consecutive quarters of negative earnings, and this one looks like we're going to squeak out a positive, which is very good for the market," said Doug Cote, chief market strategist for Voya Investment Management. "Earnings are coming in better, and some much better, than expected."

The Dow Jones industrial average gained 75.54 points, or 0.4 percent, to 18,161.94. Standard & Poor's 500 index rose 13.10 points, or 0.6 percent, to 2,139.60. The Nasdaq composite index added 44.01 points, or 0.9 percent, to 5,243.84.

Investors are poring over company earnings reports to gauge the market's prospects for growth in coming months and get a better handle on the state of the economy. About 80 of the companies in the S&P 500 were scheduled to report quarterly results this week. So far, about 10 percent have done so since the latest reporting period began last week.

Earnings for the third quarter are projected be down about 1 percent overall from a year ago, according to S&P Global Market Intelligence. That forecast is largely due to the energy sector, which has been hard hit by falling energy prices.

While it's still early, some market watchers are encouraged by the results so far.

"It looks like corporate earnings certainly could start to trend positive," Cote said. "Fundamentals drive markets and positive earnings are a necessary precursor for this bull market to continue."

Health care, which has been the worst performing sector this year, notched the biggest gain Tuesday, 1.1 percent. It remains down 2.6 percent this year.

Investors bid up shares in several companies in the sector, including UnitedHealth Group.

The nation's largest health insurer climbed 6.9 percent after its profit swelled 23 percent to nearly $2 billion in the third quarter. The company also increased its 2016 earnings forecast. The stock rose $9.26 to $143.39.

Netflix surged 19 percent a day after the video streaming service reported earnings that were far better than analysts were expecting. The company noted it grew its domestic and international subscribers during the quarter. The stock added $18.99 to $118.79.

Domino's Pizza jumped 4.9 percent after the company delivered a 25 percent jump in quarterly profit as sales rose. The stock gained $7.44 to $159.45.

Del Taco Restaurants climbed 8.8 percent after the restaurant chain served up solid sales in the third quarter. It also raised its annual profit and revenue projections. The stock added $1.11 to $13.74.

Banks, several of which reported strong earnings last Friday, continued to deliver strong quarterly results. Goldman Sachs rose 2.1 percent after growth in its trading and investment business helped lift earnings. The stock added $3.63 to $172.63. Comerica also posted better-than-expected quarterly results. The lender climbed $1.99, or 4.1 percent, to $50.05.

Some companies reported improved results but missed on their earnings forecasts.

IBM slid 2.6 percent a day after issuing a full-year earnings outlook that fell short of what analysts were expecting. The stock fell $4.05 to $150.72.

U.S. benchmark crude oil rose 35 cents, or 0.7 percent, to close at $50.29 a barrel in New York. Brent crude, the international standard, gained 16 cents, or 0.3 percent, to close at $51.68 a barrel in London.

Other energy futures also eked out small gains. Wholesale gasoline inched up a penny to $1.51 a gallon. Heating oil was little changed at $1.57 a gallon. Natural gas rose 2 cents to $3.26 per 1,000 cubic feet.

The major stock indexes in Europe also rebounded Tuesday.

Germany's DAX rose 1.2 percent, while the CAC-40 in France gained 1.3 percent. The FTSE 100 index of leading British shares rose 2 percent. Several stock markets in Asia also pushed higher. Japan's Nikkei 225 added 0.4 percent, while South Korea's Kospi gained 0.6 percent. Hong Kong's Hang Seng index jumped 1.6 percent. Australia's S&P/ASX 200 rose 0.4 percent.

In metals trading, the price of gold rose $6.30 to $1,262.90 an ounce, while silver added 16 cents to $17.64 an ounce. Copper was little changed at $2.11 a pound.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.74 percent from 1.77 late Monday.

In currency markets, the dollar strengthened to 103.89 yen from 103.85 on Monday, while the euro weakened to $1.0977 from $1.0997.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	40.68	points or ▲	0.22%	on	Wednesday, October 19, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,202.62	▲	40.68	▲	0.22%		
	Nasdaq____	5,246.41	▲	2.57	▲	0.05%		
	S&P_500___	2,144.29	▲	4.69	▲	0.22%		
	30_Yr_Bond____	2.52	▲	0.00	▲	0.16%		

NYSE Volume	 3,361,504,500 	 	 	 	 	  		 
Nasdaq Volume	 1,534,408,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,021.92	▲	21.86	▲	0.31%		
	DAX_____	10,645.68	▲	14.13	▲	0.13%		
	CAC_40__	4,520.30	▲	11.39	▲	0.25%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,518.40	▲	26.40	▲	0.48%		
	Shanghai_Comp	3,084.72	▲	0.84	▲	0.03%		
	Taiwan_Weight	9,283.99	▲	61.41	▲	0.67%		
	Nikkei_225___	16,998.91	▲	35.30	▲	0.21%		
	Hang_Seng.__	23,304.97	▼	-89.42	▼	-0.38%		
	Strait_Times.__	2,844.62	▲	13.99	▲	0.49%		
	NZX_50_Index_	6,976.54	▲	3.45	▲	0.05%		

http://finance.yahoo.com/news/us-st...-higher-early-trading-142415449--finance.html

*US stock indexes notch modest gains as oil prices rise
*

Oil and gas exploration companies led U.S. stocks modestly higher Wednesday, giving the market its second gain in two days.

Energy stocks, already the best-performing category this year, got a boost from U.S. crude oil prices, which climbed to $51.60 a barrel, the highest level in 15 months. Companies that make consumer products were the biggest laggards.

Investors brushed off new data showing residential construction slowed last month. Instead, the focus remained on the latest crop of companies reporting quarterly results.

Overall earnings for companies in the Standard & Poor's 500 index have been down on an annual basis the past five quarters. But the results so far suggest the start of a turnaround, said Paul Christopher, head global market strategist for Wells Fargo Investment Institute.

"We do think the earnings recession is ending," Christopher said. "We're still early in the reporting season, but we see so far the trends that we're looking for."

The Dow Jones industrial average gained 40.68 points, or 0.2 percent, to 18,202.62. The S&P 500 index rose 4.69 points, or 0.2 percent, to 2,144.29. The Nasdaq composite index added 2.58 points, or 0.1 percent, to 5,246.41.

Indexes wavered between small gains and losses in early trading Wednesday, then turned higher by midday and stayed higher for the rest of the day.

Morgan Stanley rose 1.9 percent after the investment bank said its earnings soared 62 percent in the third quarter, thanks to big gains in bond trading. Goldman Sachs disclosed similar results Tuesday. Morgan Stanley added 61 cents to $32.93.

Quarterly results from other companies failed to impress traders.

Intel, which issued a downbeat earnings outlook late Wednesday, slumped $2.24, or 5.9 percent, to $35.51.

Manhattan Associates tumbled 10.4 percent after the business software company reported weak quarterly sales and cut its revenue outlook. The stock fell $6.16 to $52.85.

Lighting maker Cree also served up weak sales and an earnings outlook that fell short of Wall Street's expectations. The stock tumbled $2.79, or 11.1 percent, to $22.41.

About 80 of the companies in the S&P 500 were scheduled to report quarterly results this week. Earnings for the third quarter are projected be down about 0.9 percent overall from a year ago, according to S&P Global Market Intelligence. That forecast is largely due to the energy sector, which has been hard hit by falling energy prices.

That wasn't the case Wednesday.

A report of a drawdown in oil inventories helped lift crude prices. U.S. benchmark crude oil gained $1.31, or 2.6 percent, to close at $51.60 a barrel in New York. Brent crude, the international standard, added 99 cents, or 1.9 percent, to close at $52.67 a barrel in London.

The pickup in oil prices sent shares in several energy, exploration and drilling services companies higher.

Transocean jumped 56 cents, or 5.7 percent, to $10.46. Halliburton rose $2, or 4.3 percent, to $49.07, while Newfield Exploration climbed $1.65, or 3.9 percent, to $44.18.

Global stock markets were mostly steady Wednesday after China reported its economy expanded at a firm pace in the July-September quarter.

In Europe, Germany's DAX rose 0.1 percent, while France's CAC 40 gained 0.3 percent. The FTSE 100 in Britain added 0.3 percent. Earlier in Asia, Japan's Nikkei 225 index rose 0.2 percent, while Australia's S&P ASX/200 added 0.5 percent. The Kospi in South Korea was flat. Hong Kong's Hang Seng index lost 0.4 percent.

Other energy futures closed mostly higher. Wholesale gasoline was little changed at $1.51 a gallon. Heating oil rose 2 cents to $1.59 a gallon. Natural gas fell 9 cents to $3.17 per 1,000 cubic feet.

In metals trading, the price of gold rose $7 to $1,269.90 an ounce, while silver added 3 cents to $17.66 an ounce. Copper was little changed at $2.10 a pound.

Bond prices barely budged. The yield on the 10-year Treasury note held steady at 1.74.

In currency markets, the dollar fell to 103.39 yen from 103.89 yen, while the euro weakened to $1.0969 from $1.0977.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-40.27	points or ▼	-0.22%	on	Thursday, October 20, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,162.35	▼	-40.27	▼	-0.22%		
	Nasdaq____	5,241.83	▼	-4.58	▼	-0.09%		
	S&P_500___	2,141.34	▼	-2.95	▼	-0.14%		
	30_Yr_Bond____	2.50	▼	-0.02	▼	-0.68%		

NYSE Volume	 3,336,218,500 	 	 	 	 	  		 
Nasdaq Volume	 1,715,657,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,026.90	▲	4.98	▲	0.07%		
	DAX_____	10,701.39	▲	55.71	▲	0.52%		
	CAC_40__	4,540.12	▲	19.82	▲	0.44%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,526.20	▲	7.80	▲	0.14%		
	Shanghai_Comp	3,084.46	▼	-0.26	▼	-0.01%		
	Taiwan_Weight	9,317.24	▲	33.25	▲	0.36%		
	Nikkei_225___	17,235.50	▲	236.59	▲	1.39%		
	Hang_Seng.__	23,374.40	▲	69.43	▲	0.30%		
	Strait_Times.__	2,842.62	▼	-2.00	▼	-0.07%		
	NZX_50_Index_	6,973.78	▼	-2.76	▼	-0.04%		

http://finance.yahoo.com/news/us-stock-indexes-mixed-early-143354181.html

*US stocks snap 2-day winning streak, close slightly lower*

A day of mostly listless trading on Wall Street ended Thursday with U.S. stocks giving back modest gains from the day before.

Telecom sector stocks declined the most, weighed down by a slide in shares of AT&T, Sprint and other phone companies. Only health care stocks eked out a gain. The broad slide snapped a two-day winning streak for the market. Energy futures and precious metals also closed lower.

Investors mostly waded through another round of earnings reports, looking to glean insights into the health of corporate America and the U.S. economy. While some companies turned in disappointing results, most of those that have posted earnings so far are beating financial analysts' expectations, said JJ Kinahan, chief strategist at TD Ameritrade.

"Overall, it's been a very, very good earnings season," Kinahan said.

The Dow Jones industrial average slipped 40.27 points, or 0.2 percent, to 18,162.35. The Standard & Poor's 500 index lost 2.95 points, or 0.2 percent, to 2,141.34. The Nasdaq composite index slid 4.58 points, or 0.1 percent, to 5,241.83.

The major stock indexes are all up for the week.

About 15 percent of the companies in the S&P 500 have reported quarterly results so far this earnings period. Of those, more than 80 percent have turned in earnings that beat Wall Street's expectations, Kinahan said.

Financial companies have been among the best performers so far.

On Thursday, investors bid up shares in American Express, which reported better-than-anticipated earnings late Wednesday and also raised its annual outlook. The stock was the biggest gainer in the S&P 500, climbing $5.53, or 9 percent, to $66.78.

"Financials continue to perform and continue to provide support, American Express being the latest example," Kinahan said.

Toy maker Mattel also got a boost a day after it reported strong earnings. The stock rose $1.84, or 6 percent, to $32.46.

Snap-on climbed 6.7 percent after the tool and diagnostic equipment maker posted a larger profit than analysts had forecast. Its shares rose $9.95 to $159.06.

Several other companies posted results that failed to impress investors.

EBay slumped 10.8 percent after the e-commerce giant reported disappointing fourth-quarter results. The stock was the biggest decliner in the S&P 500, sliding $3.50, or 10.8 percent, to $29.02.

Union Pacific fell 6.7 percent after it said weak demand for consumer goods had dampened its freight and coal shipments volume. The railroad operator lost $6.48 to $90.64.

Verizon fell 2.5 percent after the company posted weak quarterly revenue as it added far fewer wireless and internet service subscribers than a year ago. Shares in the company, which is in the process of a potential acquisition of Yahoo's digital operations, shed $1.24 to $49.14.

Shares in other phone companies also fell. AT&T lost 73 cents, or 1.9 percent, to $38.65, while Sprint fell 16 cents, or 2.3 percent, to $6.72. T-Mobile US slid 27 cents, or 0.6 percent, to $47.05.

Beyond earnings, traders also weighed some new economic data Thursday.

The Labor Department said weekly applications for unemployment benefits rose last week to the highest level in five weeks, though it remained close to a recent 43-year low. Separately, the National Association of Realtors said that sales of previously owned homes rose 3.2 percent from August to a seasonally adjusted annual rate of 5.47 million, the strongest pace since June.

Stock indexes in Europe closed higher. Germany's DAX gained 0.5 percent, while France's CAC-40 rose 0.4 percent. London's FTSE 100 added 0.1 percent. Earlier in Asia, Tokyo's Nikkei 225 rose 1.4 percent, while Hong Kong's Hang Seng gained 0.3 percent.

Benchmark U.S. crude fell $1.17, or 2.3 percent, to close at $50.43 a barrel in New York. Brent crude, used to price international oils, slid $1.29, or 2.4 percent, to close at $51.38 a barrel in London.

Other energy futures also closed lower. Wholesale gasoline fell 2 cents to $1.49 a gallon. Heating oil slid 3 cents to $1.56 a gallon. Natural gas lost 3 cents to $3.14 per 1,000 cubic feet.

In metals trading, the price of gold fell $2.40 to $1,267.50 an ounce, while silver lost 11 cents to $17.55 an ounce. Copper was little changed at $2.10 a pound.

Bond prices were little changed. The yield on the 10-year Treasury note held steady at 1.75 percent.

In currency markets, the dollar increased to 103.96 yen from 103.39 on Wednesday, while the euro weakened to $1.0928 from $1.2275.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-16.64	points or ▼	-0.09%	on	Friday, October 21, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,145.71	▼	-16.64	▼	-0.09%		
	Nasdaq____	5,257.40	▲	15.57	▲	0.30%		
	S&P_500___	2,141.16	▼	-0.18	▼	-0.01%		
	30_Yr_Bond____	2.49	▼	-0.01	▼	-0.28%		

NYSE Volume	 3,446,199,500 	 	 	 	 	  		 
Nasdaq Volume	 1,630,190,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,020.47	▼	-6.43	▼	-0.09%		
	DAX_____	10,710.73	▲	9.34	▲	0.09%		
	CAC_40__	4,536.07	▼	-4.05	▼	-0.09%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,513.90	▼	-12.30	▼	-0.22%		
	Shanghai_Comp	3,090.94	▲	6.48	▲	0.21%		
	Taiwan_Weight	9,306.57	▼	-10.67	▼	-0.11%		
	Nikkei_225___	17,184.59	▼	-50.91	▼	-0.30%		
	Hang_Seng.__	23,374.40	▲	0.00	▲	0.00%		
	Strait_Times.__	2,831.06	▼	-11.56	▼	-0.41%		
	NZX_50_Index_	6,958.40	▼	-15.38	▼	-0.22%		

http://finance.yahoo.com/news/us-stock-indexes-head-lower-early-trading-143929233--finance.html

*US stocks close mostly lower; eke out gain for the week*

The major U.S. stock indexes closed mostly lower Friday, capping a day spent wavering between small gains and losses.

Phone companies were the biggest drag on the market following reports that AT&T was considering a deal to acquire the media conglomerate Time Warner. AT&T, Verizon, Sprint and T-Mobile US all fell.

Health care and energy stocks also took some losses, while consumer staples and technology companies held on to slight gains.

Investors continued to focus on corporate America, reviewing earnings from General Electric, McDonald's and other big companies. Earnings from banks and other financial companies have been mostly better than anticipated, which has helped boost that sector.

"We're seeing a lot better earnings come out of the financial sector in particular, and some good earnings come out of technology," said David Schiegoleit, managing director of investments at the Private Client Reserve at U.S. Bank. "That is reflected in some of the sector performance, but when you look at the market overall we're still being weighed down by energy."

The Dow Jones industrial average fell 16.64 points, or 0.1 percent, to 18,145.71. The Standard & Poor's 500 index slipped 0.18 points, or 0.01 percent, to 2,141.16. The Nasdaq composite index gained 15.57 points, or 0.3 percent, to 5,257.40.

The three indexes ended slightly higher for the week. The Dow is now up 4.1 percent for the year, while the S&P 500 is up 4.8 percent. The Nasdaq is up 5 percent.

Roughly two weeks into the third-quarter financial reporting period, earnings for companies in the S&P 500 are projected be down about 0.8 percent overall from a year ago, according to S&P Global Market Intelligence. That forecast is largely due to the energy sector, which has been hard hit by falling energy prices.

Several companies that reported results on Friday failed to impress investors.

General Electric slipped 9 cents to $28.98 after the company said its latest quarterly sales fell more than anticipated due to weaker results from its lighting and transportation businesses. The industrial conglomerate also trimmed its revenue forecast for the year.

Skechers U.S.A. slumped 17.3 percent after the footwear maker reported disappointing results for the second quarter in a row. The stock fell $3.96 to $18.98.

Others companies fared better.

McDonald's rose 33 percent after the world's biggest hamburger chain served up earnings and revenue that exceeded Wall Street's expectations. The stock added $3.36 to $113.93.

Microsoft climbed 4.2 percent a day after the software giant posted a surprisingly high profit for its fiscal first quarter. The results help validate the company's increased focus on software and online services. The stock gained $2.41 to $59.66, eclipsing its previous record close of $59.56 set in December 1999.

News and corporate deal talk also fueled big moves on Wall Street Friday.

Reynolds American jumped 14 percent after London-based British American Tobacco offered to buy out the 57.8 percent stake in Reynolds that it doesn't already own. Reynolds was evaluating the offer, which analysts say would help both sides overcome a decline in smoking rates in their home markets and competition from electronic cigarettes. Reynolds was the biggest gainer in the S&P 500, climbing $6.61 to $53.78.

AT&T fell 3 percent following reports that the company was considering a deal to acquire the media conglomerate Time Warner. AT&T slid $1.16 to $37.49.

Beyond earnings, concerns about the implications of a rising dollar and a possible interest rate hike from the Federal Reserve this year have kept the market in a listless state recently, noted Krishna Memani, chief investment officer at OppenheimerFunds.

"The market is not taking a significant turn in a negative way, but it doesn't really see any positive impetus in the near term to go higher," Memani said.

After an early slide, crude oil prices recovered in afternoon trading. Benchmark U.S. crude rose 22 cents to close at $50.85 a barrel in New York. Brent crude, used to price international oils, gained 40 cents to close at $51.78 a barrel in London.

The major stock indexes in Europe barely budged Friday as investors increasingly factored in the likelihood of a U.S. interest rate increase this year.

3432


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	77.32	points or ▲	0.43%	on	Monday, October 24, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,223.03	▲	77.32	▲	0.43%		
	Nasdaq____	5,309.83	▲	52.43	▲	1.00%		
	S&P_500___	2,151.33	▲	10.17	▲	0.47%		
	30_Yr_Bond____	2.52	▲	0.02	▲	0.96%		

NYSE Volume	 3,330,155,250 	 	 	 	 	  		 
Nasdaq Volume	 1,464,689,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,986.40	▼	-34.07	▼	-0.49%		
	DAX_____	10,761.17	▲	50.44	▲	0.47%		
	CAC_40__	4,552.58	▲	16.51	▲	0.36%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,489.10	▼	-24.80	▼	-0.45%		
	Shanghai_Comp	3,128.25	▲	37.31	▲	1.21%		
	Taiwan_Weight	9,322.50	▲	15.93	▲	0.17%		
	Nikkei_225___	17,234.42	▲	49.83	▲	0.29%		
	Hang_Seng.__	23,604.08	▲	229.68	▲	0.98%		
	Strait_Times.__	2,856.68	▲	25.62	▲	0.90%		
	NZX_50_Index_	6,958.40	▼	-15.38	▼	-0.22%		

http://finance.yahoo.com/news/us-stocks-jump-wave-deals-142001694.html

*Wave of deals lead US stocks higher; tech companies jump*

NEW YORK (AP) -- U.S. stocks rose Monday as investors were cheered by a spate of corporate dealmaking over the weekend. Technology companies made the biggest gains. But investors were doubtful the biggest deal, AT&T's agreement to buy Time Warner, will happen.

Companies announced almost $100 billion in deals over the last few days. Investors had mixed reactions to the moves, but they were pleased the companies were willing to spend.

"Any time you see a lot of IPOs, a lot of merger activity, it boosts confidence," said Karyn Cavanaugh, senior markets strategist for Voya Investment Strategies.

Big-name technology companies including Apple and Alphabet, which owns Google, rose ahead of reporting their earnings this week. Amazon also rose, giving other consumer companies a boost. Energy companies slipped with the price of oil.

The Dow Jones industrial average gained 77.32 points, or 0.4 percent, to 18,223.03. The Standard & Poor's 500 index rose 10.17 points, or 0.5 percent, to 2,151.33. Thanks to the big gains for tech companies, the Nasdaq composite climbed 52.42 points, or 1 percent, to 5,309.83.

Over the weekend telecom giant AT&T agreed to pay $85.4 billion for Time Warner, the entertainment conglomerate that owns HBO, CNN and Warner Bros. Time Warner jumped almost 8 percent Friday but remains far below the $107.50 a share AT&T agreed to pay.

Both presidential tickets have already expressed skepticism about the deal and it's not clear if regulators will let the companies combine. The concern is that the combined company might favor its own media properties at the expense of those owned by rivals. In recent months the government has stepped in to stop a series of big deals, including two major health insurance mergers.

"Any deal is seen as reducing competition and unfair to the consumer," said Cavanaugh, who said there can be major benefits to such deals.

For their part, investors also worried about the price AT&T is paying. The company, which bought DirecTV for $48.5 billion last year, already has about $117 billion in long-term debt.

AT&T fell 63 cents, or 1.7 percent, to $36.86 while Time Warner lost $2.74, or 3.1 percent, to $86.74.

Elsewhere, aviation electronics company Rockwell Collins agreed to buy commercial aircraft and business jet maker B/E Aerospace for $62 a share, or $6.4 billion in cash and stock. B/E Aerospace climbed $8.28, or 16.4 percent, to $58.89 while Rockwell Collins gave up $5.25, or 6.2 percent, to $79.21.

Tech stocks have done very well over the last few months and that could continue as more companies report their earnings. S&P Global Market Intelligence says analysts think earnings for tech companies will grow 6 percent in the third quarter. Overall earnings for companies in the S&P 500 index are expected to rise less than 1 percent.

Microsoft, which is trading at all-time highs after strong earnings last week, rose $1.34, or 2.2 percent, to $61. Alphabet picked up $11.68, or 1.4 percent, to $835.74 and Apple added $1.03 to $117.63.

TD Ameritrade will combine with competitor Scottrade at a time when investors are choosing index funds over stock picking. In a related transaction, TD Bank will also combine with Scottrade Bank. The two deals were valued at $4 billion together. TD Ameritrade slid $1.62, or 4.4 percent, to $35.46.

China Oceanwide Holdings agreed to buy Genworth Financial for $5.43 per share, or $2.7 billion. The financial services firm traded at $25 a share at the end of 2007, before the financial crisis, and its stock hasn't recovered. It's taken steep losses the last few years and on Monday it lost 42 cents, or 8.1 percent, to $4.79.

Benchmark U.S. crude lost 33 cents to $50.52 a barrel in New York after falling more than 2 percent earlier in the session. Brent crude, the international standard, fell 32 cents to $51.46 a barrel in London.

Wireless carrier T-Mobile jumped after reporting better-than-expected results and raising its forecasts for new customers. T-Mobile gained $4.44, or 9.6 percent, to $51.19. It hadn't traded above $50 a share since October 2007.

Consumer companies also did better than the broader market. Amazon picked up $10.10, or 2.3 percent, to $838.09 and PepsiCo rose $1.69, or 1.6 percent, to $107.31.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-53.76	points or ▼	-0.30%	on	Tuesday, October 25, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,169.27	▼	-53.76	▼	-0.30%		
	Nasdaq____	5,283.40	▼	-26.43	▼	-0.50%		
	S&P_500___	2,143.16	▼	-8.17	▼	-0.38%		
	30_Yr_Bond____	2.50	▼	-0.02	▼	-0.60%		

NYSE Volume	 3,749,792,000 	 	 	 	 	  		 
Nasdaq Volume	 1,508,627,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,017.64	▲	31.24	▲	0.45%		
	DAX_____	10,757.31	▼	-3.86	▼	-0.04%		
	CAC_40__	4,540.84	▼	-11.74	▼	-0.26%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,523.30	▲	34.20	▲	0.62%		
	Shanghai_Comp	3,131.94	▲	3.69	▲	0.12%		
	Taiwan_Weight	9,385.65	▲	63.15	▲	0.68%		
	Nikkei_225___	17,365.25	▲	130.83	▲	0.76%		
	Hang_Seng.__	23,565.11	▼	-38.97	▼	-0.17%		
	Strait_Times.__	2,854.05	▼	-2.63	▼	-0.09%		
	NZX_50_Index_	7,002.87	▲	44.47	▲	0.64%		

http://finance.yahoo.com/news/stock...it-consumer-companies-143130652--finance.html

*Consumer stocks fall as Whirlpool, GM and others skid*

NEW YORK (AP) ”” Shaky results from consumer companies dragged the U.S. stock market lower on Tuesday as well-known names like appliance maker Whirlpool and athletic apparel maker Under Armour suffered their worst losses in years.

Third-quarter earnings continued to dominate the market and some of the biggest companies either reported disappointing results or lowered their expectations. Investors wondered if consumers will spend less money on home improvement, clothing and other goods. But companies including Procter & Gamble and Lockheed Martin soared after their reports. Looking for safer options, some investors bought bonds and utility company shares.

Consumer spending is critical to the U.S. economy and poor results for consumer-focused companies could be a sign of trouble. But Doug Roman, managing director of equities for PNC Capital Advisors, said it's too soon to know if shoppers are closing their wallets.

"The market might be extrapolating bigger stories into broader themes, which might not be the case," he said. Corporate earnings have been falling for more than a year, and despite Tuesday's results, investors are growing hopeful that streak is ending.

The Dow Jones industrial average shed 53.76 points, or 0.3 percent, to 18,169.27. The Standard & Poor's 500 index lost 8.17 points, or 0.4 percent, to 2,143.16. The Nasdaq composite fell 26.43 points, or 0.5 percent, to 5,283.40.

Paint and coatings maker Sherwin-Williams posted a disappointing profit and cut its annual guidance because of slower sales growth combined with spending on new stores. Meanwhile appliance maker Whirlpool's results fell far short of analyst projections. Sherwin-Williams had its worst day in seven years as it lost $30.27, or 10.9 percent, to $247.61. Whirlpool, which owns Maytag and KitchenAid, sank $18.37, or 10.8 percent, to $152.09, its largest loss in five years.

Home improvement retailers Home Depot and Lowe's and flooring maker Mohawk Industries all slumped. So did automaker General Motors, which reported solid earnings.

Under Armour reported its slowest sales growth in six years and said its future sales won't be as strong as it expected a year ago. Its stock tumbled $5.01, or 13.2 percent, to $32.89, its biggest drop in almost eight years. Rival Nike also slipped.

Procter & Gamble, which makes Tide detergent and Charmin toilet paper, had its best day in more than a year after it reported better results than investors expected. The consumer products giant has been selling some businesses to cut costs, and it posted stronger sales of personal care products like toothbrushes and deodorants. Its stock rose $2.87, or 3.4 percent, to $86.97,

Aerospace and defense company Lockheed Martin surpassed investor forecasts and raised its projections for the year. Its stock gained $17.10, or 7.4 percent, to $249.26, its biggest leap in seven years.

The reports continued to stream in after the market closed. Apple reported lower quarterly sales and sold fewer iPhones, sending its stock down about 2 percent in late trading. The company did give a better-than-expected forecast for the holiday season.

Oil and gas drilling services company Baker Hughes disclosed a smaller loss than investors expected. Investors were also pleased that Baker Hughes is preparing to cut more costs. The company said it plans to eliminate $650 million in spending this year, up from the $500 million it had planned to cut. It climbed $2.24, or 4.3 percent, to $54.39.

Waters Corp., which makes products used in drug development, announced weak revenue as demand from governments, research institutions and industries fell. The stock slid $19.15, or 12.1 percent, to $138.60.

Drugmaker Merck raised its forecasts after it reported a bigger profit on greater sales of vaccines and cancer medicines. The company has also been trying to keep is spending in check. The stock rose $1.20, or 2 percent, to $61.95.

3M, which makes Post-it notes, industrial coatings and ceramics, forecast weaker sales growth and a smaller profit for the year. The stock declined $5.04, or 2.9 percent, to $166.23.

Elevator and jet engine manufacturer United Technologies raised its annual forecast after its third-quarter profit surpassed analyst estimates. Its stock gained $1.84, or 1.8 percent, to $101.36.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	30.06	points or ▲	0.17%	on	Wednesday, October 26, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,199.33	▲	30.06	▲	0.17%		
	Nasdaq____	5,250.27	▼	-33.13	▼	-0.63%		
	S&P_500___	2,139.43	▼	-3.73	▼	-0.17%		
	30_Yr_Bond____	2.54	▲	0.04	▲	1.40%		

NYSE Volume	 3,746,119,000 	 	 	 	 	  		 
Nasdaq Volume	 1,711,554,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,958.09	▼	-59.55	▼	-0.85%		
	DAX_____	10,709.68	▼	-47.63	▼	-0.44%		
	CAC_40__	4,534.59	▼	-6.25	▼	-0.14%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,442.10	▼	-81.20	▼	-1.47%		
	Shanghai_Comp	3,116.31	▼	-15.63	▼	-0.50%		
	Taiwan_Weight	9,362.25	▼	-23.40	▼	-0.25%		
	Nikkei_225___	17,391.84	▲	26.59	▲	0.15%		
	Hang_Seng.__	23,325.43	▼	-239.68	▼	-1.02%		
	Strait_Times.__	2,828.57	▼	-25.48	▼	-0.89%		
	NZX_50_Index_	6,896.20	▼	-106.67	▼	-1.52%		

http://abcnews.go.com/Business/wireStory/us-stocks-slip-apple-pushes-tech-stocks-43070195

*US stocks slip but steer clear of larger losses*
The Associated Press BY By MARLEY JAY - AP Markets Writer

NEW YORK (AP) ”” U.S. stocks dodged bigger losses and finished barely lower on Wednesday. Health care companies fell and Apple pulled technology companies down, but banks rose.

Earlier in the day, stocks had appeared to be headed for a second day of notable losses, but they recovered some of that lost ground in late trading. Weak earnings for major companies hurt real estate investment trusts and health care companies. Tech stocks slid as investors were unimpressed with Apple's latest results. Banks continued to report strong earnings and Boeing boosted industrial companies.

Stocks haven't made many big moves the last two weeks. "Trading volume has really dropped off," said Scott Wren, a senior global equity strategist at the Wells Fargo Investment Institute. He said investors are being cautious as they wait for the outcome of November's election.

The Dow Jones industrial average added 30.06 points, or 0.2 percent, to 18,199.33. In early trading it fell more than 100 points. The Standard & Poor's 500 index sank 3.73 points, or 0.2 percent, to 2,139.43. The Nasdaq composite shed 33.13 points, or 0.6 percent, to 5,250.27.

While individual companies might rise or fall based on their earnings, Wren said investors don't care that much if overall corporate profits rise or fall this quarter. Earnings have been falling for more than a year but the drops are getting smaller.

"All the market wants in terms of earnings is a continuation of a pattern this year of quarter-to-quarter improvement," he said.

Apple sank $2.66, or 2.2 percent, to $115.59 after it reported another drop in iPhone sales. Apple gets about two-thirds of its revenue from the iPhone and some investors are concerned it depends too much on its marquee product. The company expects sales to start growing again in the holiday season after a recent slump.

The losses for Apple, by far the biggest company in the S&P 500, sent tech stocks lower. That canceled out big jumps in Akamai Technologies and Juniper Networks, which each surged more than 10 percent after strong results.

Medical device maker Edwards Lifesciences reported disappointing sales of heart devices and forecast another shortfall in the current quarter, and its stock slid $19.43, or 17.1 percent, to $94.25. Medical lab operator Laboratory Corp. of America sank $11.95, or 8.6 percent, to $126.46 after a disappointing report. Drugmaker Merck gave up most of its gains from the previous day and fell $1.08, or 1.7 percent, to $60.87.

Financial firms continued to report strong third-quarter results. Regional bank Huntington Bancshares gained 51 cents, or 5 percent, to $10.70 and insurer Chubb rose $4.55, or 3.7 percent, to $127.

Boeing climbed $6.52, or 4.7 percent, to $145.54 after the company raised its forecast for earnings, revenue, and plane deliveries. Boeing was responsible for all of the Dow's gain.

Simon Property Group, which owns more than 100 shopping malls around the country, slumped after analysts worried about its performance, including lower income from stores that have been open for more than a year. That counteracted solid earnings, and its stock fell $8.89, or 4.5 percent, to $188.38.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.79 percent from 1.76 percent.

Mondelez, the maker of Oreo cookies, Cadbury chocolate and Trident gum, climbed after reporting a bigger profit than analysts expected. The company's stock picked up $1.56, or 3.6 percent, to $44.32.

Southwest Airlines slipped after it gave a weak revenue forecast for the rest of the year. Ticket prices have been falling for two years and Southwest said prices are still "soft." Its stock lost $3.55, or 8.5 percent, to $38.40, and other airlines including American and United also traded lower.

The price of oil fell for the third day in a row. U.S. crude fell 78 cents, or 1.6 percent, to $49.18 a barrel. Brent crude, the international standard, lost 81 cents, to 1.6 percent, to $49.98 a barrel in London.

Sales for Chipotle Mexican Grill fell for the fourth quarter in a row and came in weaker than analysts expected as the company continued to struggle in its efforts to win back customers after food safety scares. The stock lost $37.65, or 9.3 percent, to $368.02, its lowest price in three years.

Drugmaker Mylan fell after Kaleo Pharmaceuticals said it will resume selling its emergency allergy shot Auvi-Q next year. That would mean more competition for Mylan's EpiPen. Auvi-Q was taken off the market last year because of the potential for inaccurate dosing, leaving EpiPen without any direct competition.

Mylan lost 70 cents, or 1.6 percent, to $38.08. The stock is down 22 percent since mid-August as the company has come under fire for repeatedly raising the price of the EpiPen over the last decade and for overcharging the government for the shot.

In other energy trading, wholesale gasoline slid 2 cents to $1.48 a gallon. Heating oil lost 1 cent to $1.55 a gallon. Natural gas fell 4 cents to $2.73 per 1,000 cubic feet.

Gold fell $7 to $1,266.60 an ounce. Silver lost 15 cents to $17.63 an ounce. Copper was little changed at $2.15 a pound.

The dollar inched up to 104.54 yen from 104.22 yen. The euro rose to $1.0906 from $1.0892.

The FTSE 100 of Britain dropped 0.8 percent while Germany's DAX lost 0.4 percent and the CAC 40 in France gave up 0.1 percent. Japan's Nikkei 225 edged 0.2 percent higher, but Hong Kong's Hang Seng dropped 1 percent and South Korea's Kospi lost 1.1 percent.


----------



## CanOz

Teska just smashed thier results! the market is pretty short too, this may create some short covering.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-29.65	points or ▼	-0.16%	on	Thursday, October 27, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,169.68	▼	-29.65	▼	-0.16%		
	Nasdaq____	5,215.97	▼	-34.29	▼	-0.65%		
	S&P_500___	2,133.04	▼	-6.39	▼	-0.30%		
	30_Yr_Bond____	2.60	▲	0.07	▲	2.56%		

NYSE Volume	 4,173,767,250 	 	 	 	 	  		 
Nasdaq Volume	 1,819,864,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,986.57	▲	28.48	▲	0.41%		
	DAX_____	10,717.08	▲	7.40	▲	0.07%		
	CAC_40__	4,533.57	▼	-1.02	▼	-0.02%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,378.40	▼	-63.70	▼	-1.17%		
	Shanghai_Comp	3,112.35	▼	-3.96	▼	-0.13%		
	Taiwan_Weight	9,299.55	▼	-62.70	▼	-0.67%		
	Nikkei_225___	17,336.42	▼	-55.42	▼	-0.32%		
	Hang_Seng.__	23,132.35	▼	-193.08	▼	-0.83%		
	Strait_Times.__	2,828.94	▲	0.37	▲	0.01%		
	NZX_50_Index_	6,941.95	▲	45.75	▲	0.66%		

http://finance.yahoo.com/news/healt...higher-solid-earnings-140526050--finance.html

*US stock indexes slip further, but bond yields surge*

NEW YORK (AP) ”” U.S. stocks slipped for the third consecutive day Thursday as media and defense companies skidded. Bond yields climbed to their highest levels since May, which helped banks and hurt stocks that pay big dividends.

Stocks started the day higher and were flat at midday, then gradually slid through the afternoon. Cable and TV companies and publishers sank, and industrial companies like Raytheon and L-3 Communications fell after reporting weak results.

Bond prices fell and yields climbed. That helped banks, since they'll earn more from lending as interest rates rise. It also sent high-dividend stocks like utilities and real estate companies lower as bonds become more appealing to investors seeking income.

Scott Kimball, co-portfolio manager of the BMO TCH Core Plus Bond Fund, said investors believe that central banks will cut back on bond buying. In recent days that's sent prices lower and yields higher.

"The largest bond buyers, the biggest bond managers in the market, have been these central banks," he said. Kimball added that yields could rise further if economic growth picks up.

The Dow Jones industrial average fell 29.65 points, or 0.2 percent, to 18,169.68. The Standard & Poor's 500 index sank 6.39 points, or 0.3 percent, to 2,133.04. The Nasdaq composite lost 34.29 points, or 0.7 percent, to 5,215.97.

Comcast continued to fall as investors worried about competition it could face from a new online TV service like AT&T's DirectTV Now, which was announced Tuesday. Comcast lost $1.08, or 1.7 percent, to $61.48 after falling 3 percent Wednesday.

Competitor Charter Communications and TV networks like CBS and Twenty-First Century Fox also skidded. Automaker and auto parts retailers also fell, which contributed to the losses for consumer companies.

Raytheon gave up $5, or 3.5 percent, to $136.28 as its outlook failed to impress investors. Communications and surveillance company L-3 Communications gave up $10.96, or 7.4 percent, to $137.75 after it posted weak sales. Aerospace giant Boeing slipped after a big surge Wednesday.

U.S. government bond prices dropped. The yield on the 10-year Treasury note jumped to 1.85 percent from 1.79 percent a day earlier, its highest yield in almost five months.

Bristol-Myers Squibb broke out of a slump after it raised its annual forecasts. The stock has fallen by about one-third since early August as investors worried about sales of its cancer treatment Opdivo. The stock rose $2.67, or 5.4 percent, to $51.96. Celgene also raised its forecasts as sales of its cancer drug maker Revlimid kept rising. The stock added $6.34, or 6.4 percent, to $104.75.

Smartphone chipmaker Qualcomm said it will buy NXP for $38 billion, or $110 per share in cash. Qualcomm jumped $1.89, or 2.8 percent, to $70.09 and NXP rose 42 cents to $99.09. The deal has been rumored for about a month and investors were excited about the prospect. Qualcomm has climbed 10 percent and NXP is up 20 percent since it was first reported that the companies were in talks.

Phone companies Level 3 Communications and CenturyLink surged after the Wall Street Journal said the two companies are in talks to combine. CenturyLink soared $2.75, or 9.7 percent, to $31 and Level 3 climbed $4.95, or 10.5 percent, to $51.87. AT&T, Verizon and Frontier Communications also rose.

Newspaper publishers Gannett and Tronc, the company formerly known as Tribune Publishing, both slumped on reports they may not be able to combine. Bloomberg reported Thursday that banks financing the deal were not willing to help fund it. The report cited anonymous sources and said the companies were still talking. USA Today publisher Gannett dropped $1.69, or 17.1 percent, to $8.21 and Tronc fell $4.73, or 27.8 percent, to $8.21 in heavy trading.

Earnings continued to pour in after the closing bell. Amazon fell 4 percent in aftermarket trading after its profit fell short of analysts' estimates, and Alphabet, the corporate parent of Google, rose 1 percent after it surpassed expectations.

Oil prices recovered after falling for three days in a row. U.S. benchmark crude rose 54 cents, or 1.1 percent, to $49.72 a barrel in New York. Brent crude, the international standard, added 49 cents, or 1 percent, to $50.47 a barrel in London.


----------



## notting

Markets getting a bit skittish over Hillary emails which are nothing.
So what Bill made some money public speaking, who cares whether it's for places donating to his charity. WTF!


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-8.49	points or ▼	-0.05%	on	Friday, October 28, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,161.19	▼	-8.49	▼	-0.05%		
	Nasdaq____	5,190.10	▼	-25.87	▼	-0.50%		
	S&P_500___	2,126.41	▼	-6.63	▼	-0.31%		
	30_Yr_Bond____	2.62	▲	0.01	▲	0.58%		

NYSE Volume	 3,997,066,750 	 	 	 	 	  		 
Nasdaq Volume	 1,827,524,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,996.26	▲	9.69	▲	0.14%		
	DAX_____	10,696.19	▼	-20.89	▼	-0.19%		
	CAC_40__	4,548.58	▲	15.01	▲	0.33%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,370.90	▼	-7.50	▼	-0.14%		
	Shanghai_Comp	3,104.27	▼	-8.08	▼	-0.26%		
	Taiwan_Weight	9,306.92	▲	7.37	▲	0.08%		
	Nikkei_225___	17,446.41	▲	109.99	▲	0.63%		
	Hang_Seng.__	22,954.81	▼	-177.54	▼	-0.77%		
	Strait_Times.__	2,816.26	▼	-12.68	▼	-0.45%		
	NZX_50_Index_	6,943.30	▲	1.35	▲	0.02%		

http://finance.yahoo.com/news/us-st...trong-economic-report-140824903--finance.html

*Stocks wilt after FBI inquiry into new Clinton emails*

NEW YORK (AP) — A midday advance on the stock market wilted in afternoon trading Friday after the FBI notified Congress that it will investigate new emails linked to Democratic presidential candidate Hillary Clinton.

The market had started out on a strong note after the government reported that the economy broke out of a slump in the third quarter and grew at the fastest pace in two years.

The early climb was led by industrial, energy and technology companies, which would stand to benefit most from a pickup in economy, but the gains disappeared after the FBI made its announcement at about 1 p.m. Eastern. Clinton has led in recent polls, and the surprise development added new uncertainty just a week and a half before the presidential election.

"I think the betting has to be that there's nothing too damning, but we don't know," said Brad McMillan, chief investment officer for Commonwealth Financial Network.

The Dow Jones industrial average closed down 8.49 points, less than 0.1 percent, at 18,161.19. The index was 80 points higher shortly before the new inquiry was disclosed, then went down as much as 74 points in the minutes that followed.

The Standard & Poor's 500 index dipped 6.63 points, or 0.3 percent, to 2,126.41. The Nasdaq composite slid 25.87 points, or 0.5 percent, to 5,190.10.

Health care companies took the biggest losses by far. Prescription drug distributor McKesson plunged to a three-year low after its revenue fell about $1.5 billion short of estimates. The company slashed its annual outlook because of weaker drug prices, and investors worried that McKesson and its rivals will compete by making bigger cuts in prices.

McKesson tumbled $36.39, or 22.7 percent, to $124.11 and competitor AmerisourceBergen lost $10.36, or 13 percent, to $69.14 while Cardinal Health shed $7.30, or 9.8 percent, to $67.50.

Drugmakers were pummeled on weak earnings. Amgen, the world's largest biotech drug company, reported solid results for the third quarter and raised its guidance. However the company also disclosed flat sales of the anti-inflammatory medication Enbrel, its top-selling drug. Enbrel will soon face more competition, which could hurt sales.

Amgen gave up $15.39, or 9.6 percent, to $145.18. It was the stock's worst one-day loss since October 2000. Drugmaker AbbVie disclosed weak sales and lost $3.86, or 6.3 percent, to $57.60.

Health care stocks are the worst performing part of the market this year. They're down 6 percent while the S&P 500 is up 4 percent. Their performance compared to the rest of the market has gotten even worse over the last few months.

Earlier, stocks rose after the economy grew faster than expected during the third quarter. The Commerce Department said exports grew and more businesses restocked their shelves. In total, gross domestic product grew 2.9 percent, which was better than economists expected. Growth had slowed down late last year, causing worry among investors.

McMillan said he thinks the economy should keep growing at a similar pace for the next few quarters.

"We're already seeing business and consumer confidence come back," he said.

General Electric and oil and gas drilling services company Baker Hughes rose as they discussed a possible deal. GE said the discussions concern a partnership and that it doesn't intend to buy Baker Hughes outright. Baker Hughes tried to merge with competitor Halliburton two years ago, but the companies walked away from the combination after the federal government sued to block it. GE added 59 cents, or 2.1 percent, to $29.22 and Baker Hughes gained $4.57, or 8.4 percent, to $59.12.

Other industrial stocks including United Technologies, which makes products including jet engines and elevators, and manufacturer Honeywell also traded higher.

Amazon sank after its profit came up short of analysts' estimates. The company also released a weak outlook. The stock is trading at all-time highs and has surged more than 30 percent over the last 12 months. It fell $42.04, or 5.1 percent, to $776.32.

AB InBev cut its annual revenue forecast following weak results from its business in Brazil. The world's largest beer maker fell $4.62, or 3.8 percent, to $116.84.

U.S. crude fell $1.02, or 2.1 percent, to $48.70 a barrel in New York. That was its lowest price this month. Brent crude, the international standard, lost 76 cents, or 1.5 percent, to $49.71 a barrel in London.

4061


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-18.77	points or ▼	-0.10%	on	Monday, October 31, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,142.42	▼	-18.77	▼	-0.10%		
	Nasdaq____	5,189.13	▼	-0.97	▼	-0.02%		
	S&P_500___	2,126.15	▼	-0.26	▼	-0.01%		
	30_Yr_Bond____	2.59	▼	-0.03	▼	-1.03%		

NYSE Volume	 3,871,485,000 	 	 	 	 	  		 
Nasdaq Volume	 1,533,651,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,954.22	▼	-42.04	▼	-0.60%		
	DAX_____	10,665.01	▼	-31.18	▼	-0.29%		
	CAC_40__	4,509.26	▼	-39.32	▼	-0.86%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,402.40	▲	31.50	▲	0.59%		
	Shanghai_Comp	3,100.49	▼	-3.78	▼	-0.12%		
	Taiwan_Weight	9,290.12	▼	-16.80	▼	-0.18%		
	Nikkei_225___	17,425.02	▼	-21.39	▼	-0.12%		
	Hang_Seng.__	22,934.54	▼	-20.27	▼	-0.09%		
	Strait_Times.__	2,813.87	▼	-2.39	▼	-0.08%		
	NZX_50_Index_	6,960.68	▲	17.38	▲	0.25%		

http://finance.yahoo.com/news/stocks-flat-early-trade-us-141433382.html

*US indexes waver as traders use caution ahead of election*

NEW YORK (AP) -- Stocks were mostly unchanged on Monday, despite some positive economic data and a raft of big new merger announcements over the weekend.

Hesitant traders continue to watch the day-to-day developments of the U.S. presidential election, which is slightly more than a week away.

The Dow Jones industrial average lost 18.77 points, or 0.1 percent, to 18,142.42. The Standard & Poor's 500 index fell 0.26 points, or less than 0.1 percent, to 2,126.15 and the Nasdaq composite fell 0.97 points, or less than 0.1 percent, to 5,189.13.

With Monday's close the major indexes ended the month of October broadly lower. The Dow fell 0.9 percent, the S&P 500 fell 1.94 percent and the Nasdaq fell 2.3 percent. It was the third-straight month of declines.

The news out late last week regarding newly found emails related to Hillary Clinton's email practices threw the election's results into more uncertainty, which investors typically don't like. Over the weekend, the FBI obtained a warrant to begin reviewing newly discovered emails that may be relevant to the Hillary Clinton email investigation, a law enforcement official told The Associated Press.

"The reopening of the email investigation into Hillary Clinton certainly throws a wrench into the Presidential election now just eight days away," said John Briggs, head of fixed income strategy for the Americas at RBS, in a note to investors.

Along with the election, investors have two heavyweight events on the economic front this week: a meeting of the Federal Reserve and the October jobs report. It's widely expected that the Fed's policymakers will not raise interest rates so close to the election and will wait until the December meeting to raise rates. However, any economic observations from the bank will be important to investors. The jobs report will be the last major piece of economic data out before the Nov. 8 election.

It's also a busy week for corporate earnings, with more than one-fifth of S&P 500 companies reporting their quarterly results.

Wall Street got another wave of mega mergers over the weekend. General Electric announced it would merge its oil and gas division with Baker Hughes, creating a new company with $32 billion in annual revenue. GE rose fell 12 cents, or 0.4 percent, to $29.10 while Baker Hughes fell $3.72, or 6.3 percent, to $55.40.

Separately, telecommunications company CenturyLink announced it was purchasing competitor Level 3 Communications for $24 billion. CenturyLink fell $3.81, or 12.5 percent, to $26.58 and Level 3 rose $2.10, or 4 percent, to $56.15. Earlier this month AT&T announced it would buy Time Warner for $80 billion.

The wave of mergers was not limited to the U.S. On Monday three of Japan's largest shipping companies announced they would merge their shipping container operations.

U.S. government bond prices rose slightly. The yield on 10-year Treasury note fell to 1.83 percent from 1.85 percent on Friday. The dollar rose against the euro, British pound and the Japanese yen.

U.S. benchmark oil futures extended their losses after falling last week to their lowest price this month. Crude fell $1.84 to $46.86 a barrel in New York. Brent crude, the international standard, fell $1.41 to $48.30 a barrel.

In other energy commodities, wholesale gasoline fell 2 cents to $1.45 a gallon and heating oil fell 5 cents to $1.496 a gallon. Natural gas fell 8 cents to $3.026 per thousand cubic feet.

METALS: The price of gold fell $3.70 to $1,273.10 an ounce, silver was unchanged at $17.80 an ounce and copper edged up 1 cent to $2.21 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-105.32	points or ▼	-0.58%	on	Tuesday, November 1, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,037.10	▼	-105.32	▼	-0.58%		
	Nasdaq____	5,153.58	▼	-35.56	▼	-0.69%		
	S&P_500___	2,111.72	▼	-14.43	▼	-0.68%		
	30_Yr_Bond____	2.57	▼	-0.02	▼	-0.70%		

NYSE Volume	 4,508,916,500 	 	 	 	 	  		 
Nasdaq Volume	 1,782,757,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,917.14	▼	-37.08	▼	-0.53%		
	DAX_____	10,526.16	▼	-138.85	▼	-1.30%		
	CAC_40__	4,470.28	▼	-38.98	▼	-0.86%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,375.20	▼	-27.20	▼	-0.50%		
	Shanghai_Comp	3,122.44	▲	21.94	▲	0.71%		
	Taiwan_Weight	9,272.70	▼	-17.42	▼	-0.19%		
	Nikkei_225___	17,442.40	▲	17.38	▲	0.10%		
	Hang_Seng.__	23,147.07	▲	212.53	▲	0.93%		
	Strait_Times.__	2,813.69	▼	-0.18	▼	-0.01%		
	NZX_50_Index_	6,930.49	▼	-30.19	▼	-0.43%		

http://finance.yahoo.com/news/investors-focused-election-stocks-remain-check-141338193.html

*Stocks fade as nervous investors watch 2016 election*
 [Associated Press]
Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks closed broadly lower on Tuesday, as nervous investors continued to monitor the run-up to the 2016 election, which is turning out to be closer than previously expected.

Newspaper stocks fell as Gannett and Tronc, publisher of The Los Angeles Times, called off a merger and drugmaker Pfizer fell as the company cut its full-year forecast.

The Dow Jones industrial average lost 105.32 points, or 0.6 percent, to 18,037.10. The Standard & Poor's 500 index lost 14.43 points, or 0.7 percent, to 2,111.72 and the Nasdaq composite lost 35.56 points, or 0.7 percent, to 5,153.58.

Increasingly, investors' focus has been the presidential election, as polls between Hillary Clinton and Donald Trump appear to have tightened following last week's news that the FBI had opened a new investigation into Clinton's private email server. The narrowing in the race has introduced a new element of uncertainty into financial markets; something that analysts say is likely to keep trading in check.

There were several signs of nervousness in the market. Gold prices rose and the Mexican peso, which has become a proxy for Trump's chances to win, has been falling steadily against the U.S. dollar since Friday. The peso lost nearly 2 percent against the dollar, a significant move in currency trading.

"While Hillary Clinton is still expected to win the final vote, email concerns notwithstanding, next week's outcome could well be too close for comfort," said Michael Hewson, chief markets analyst at CMC Markets.

Notably, the VIX, a measure of volatility that is nicknamed Wall Street's "fear gauge," jumped 14 percent on Tuesday to its highest level since June.

"The tightening in the polls has gotten the market into a bit of a risk-reduction mode. A week ago it was a Clinton blowout. Now, all of a sudden, it's turning into a bit of a race," said Tom di Galoma, managing director of Treasury trading at Seaport Global Holdings.

Outside of the election, investors will be watching the Federal Reserve, which wraps up a two-day meeting on Wednesday. It is widely expected the nation's central bank will keep interest rates stable, due to the meeting's proximity to the general election.

Shares of newspaper company Tronc, which publishes the Los Angeles Times and the Chicago Tribune, plunged $1.49, or 12 percent, to $10.54 after Gannett said it would stop its bid to buy the company. Gannett fell 19 cents, or 2 percent, to $7.59.

The spin-off of Yum Brands' operations in China jumped $1.95, or 8 percent, to $26.19 on its first day of trading. Yum's flagship brand, KFC, has been a success story in China for decades and is by far the largest fast-food franchise in the country. Yum had been pressured by activist shareholders to spin off its China operations.

Drugmaker Pfizer fell 64 cents, or 2 percent, to $31.07 after the company reported third-quarter profits plunged 38 percent, despite higher sales. The mediocre results missed Wall Street expectations and Pfizer lowered the top end of its 2016 profit forecast.

U.S. benchmark oil futures fell 19 cents to close at $46.67 a barrel on the New York Mercantile Exchange. Brent crude, the international standard, lost 47 cents to $48.14 a barrel.

In other energy trading, heating oil rose 1 cent to $1.52 a gallon, wholesale gasoline rose 6 cents to $1.48 a gallon and natural gas fell 12 cents to $2.90 per 1,000 cubic feet.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 1.82 percent from 1.83 percent. In currency trading, the euro rose to $1.1064 from $1.0969 and the dollar fell to 103.90 yen from 104.90 yen.

Precious and industrial metals futures closed broadly higher. Gold climbed $14.90 to $1,288 an ounce, silver rose 62 cents to $18.42 an ounce and copper increased 2 cents to $2.23 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-77.46	points or ▼	-0.43%	on	Wednesday, November 2, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,959.64	▼	-77.46	▼	-0.43%		
	Nasdaq____	5,105.57	▼	-48.01	▼	-0.93%		
	S&P_500___	2,097.94	▼	-13.78	▼	-0.65%		
	30_Yr_Bond____	2.56	▼	-0.01	▼	-0.31%		

NYSE Volume	 4,215,717,500 	 	 	 	 	  		 
Nasdaq Volume	 1,991,252,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,845.42	▼	-71.72	▼	-1.04%		
	DAX_____	10,370.93	▼	-155.23	▼	-1.47%		
	CAC_40__	4,414.67	▼	-55.61	▼	-1.24%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,311.00	▼	-64.20	▼	-1.19%		
	Shanghai_Comp	3,102.73	▼	-19.70	▼	-0.63%		
	Taiwan_Weight	9,139.04	▼	-133.66	▼	-1.44%		
	Nikkei_225___	17,134.68	▼	-307.72	▼	-1.76%		
	Hang_Seng.__	22,810.50	▼	-336.57	▼	-1.45%		
	Strait_Times.__	2,807.14	▼	-6.55	▼	-0.23%		
	NZX_50_Index_	6,853.75	▼	-76.74	▼	-1.11%		

http://finance.yahoo.com/news/stocks-struggle-again-investors-eye-141127198.html

*Stocks struggle again as investors eye 2016 election*
[Associated Press]
Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks retreated for a seventh consecutive day on Wednesday, the market's longest decline in five years, as investor worries about the U.S. presidential election continued to weigh on the market.

A steep decline in oil prices also shook investor confidence.

The Dow Jones industrial average lost 77.46 points, or 0.4 percent, to 17,959.64. The Standard & Poor's 500 index lost 13.78 points, or 0.7 percent, to 2,097.94 and the Nasdaq composite fell 48.01 points, or 0.9 percent, to 5,105.57.

The last time the S&P 500 fell for seven straight days was November 2011, during a flare-up of the European sovereign debt crisis.

Like most of the public, investors have their eyes glued to the presidential race, as polls between Hillary Clinton and Donald Trump have tightened. The narrowing in the race has brought more uncertainty. Gold and bond prices have risen. The VIX, a volatility measure dubbed the "fear gauge" for Wall Street, jumped 14 percent on Tuesday to its highest level since June. It was up another 4.4 percent Wednesday.

The Mexican peso, which has become a de facto proxy for Trump's chances to win the election, has fallen steadily against the U.S. dollar since Friday and fell another 1 percent on Wednesday to 19.425 pesos to the dollar. Investors expect that Mexico's economy would be negatively impacted by a Trump administration, which would weaken the peso.

"The lead-up to the U.S. presidential election was always expected to be lively but the events of the last couple of days has seriously taken its toll on investor sentiment," said Craig Erlam, senior market analyst at OANDA.

Meanwhile a report from the Energy Department that showed a significant buildup in crude oil supplies last week weighed heavily on oil and energy prices. Benchmark crude oil sank $1.33 to $45.34 a barrel in New York. Brent crude, the international standard, fell $1.28 at $46.86 a barrel.

Energy stocks were among the biggest decliners in the S&P 500. Pioneer Natural Resources, Marathon Oil and Sempra energy fell 4 percent or more.

Aside from the election cliffhanger, investors parsed through the latest policy statement from the Federal Reserve. While the nation's central bank voted to keep rates at their current level after their two-day meeting, they left the door open to raise rates at their meeting in December. It was expected the Fed would not want to raise rates ahead of the election.

"If we get an unexpected election outcome, the Fed might put any increase on hold. We are not convinced that December is a sure thing," said Brandon Swensen, a portfolio manager and co-head of fixed income trading at RBC Global Asset Management.

The yield on the 10-year Treasury note fell to 1.80 percent from 1.83 percent the day before.

In individual company news, Brocade Communications rose $1.08, or 10 percent, to $12.32 after Broadcom announced it would buy the company for $5.5 billion. Broadcom rose $3.76, or 2.2 percent, to $172.56.

The dollar fell to 103.28 yen from 103.97 yen, while the euro rose to $1.1096 from $1.1062.

In other energy trading, heating oil fell 5 cents to $1.47 a gallon, wholesale gasoline fell 4 cents to $1.45 a gallon and natural gas fell 11 cents to $2.792 per 1,000 cubic feet.

Precious and industrial metals futures closed mostly higher. Gold increased $20.20 to $1,308.20 an ounce, silver climbed 28 cents to $18.69 an ounce and copper was little changed at $2.23 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-28.97	points or ▼	-0.16%	on	Thursday, November 3, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,930.67	▼	-28.97	▼	-0.16%		
	Nasdaq____	5,058.41	▼	-47.16	▼	-0.92%		
	S&P_500___	2,088.66	▼	-9.28	▼	-0.44%		
	30_Yr_Bond____	2.60	▲	0.04	▲	1.44%		

NYSE Volume	 3,870,523,000 	 	 	 	 	  		 
Nasdaq Volume	 2,017,573,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,790.51	▼	-54.91	▼	-0.80%		
	DAX_____	10,325.88	▼	-45.05	▼	-0.43%		
	CAC_40__	4,411.68	▼	-2.99	▼	-0.07%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,306.60	▼	-4.40	▼	-0.08%		
	Shanghai_Comp	3,128.94	▲	26.20	▲	0.84%		
	Taiwan_Weight	9,067.27	▼	-71.77	▼	-0.79%		
	Nikkei_225___	17,134.68	▼	-307.72	▼	-1.76%		
	Hang_Seng.__	22,683.51	▼	-126.99	▼	-0.56%		
	Strait_Times.__	2,802.08	▼	-5.06	▼	-0.18%		
	NZX_50_Index_	6,778.94	▼	-74.81	▼	-1.09%		

http://finance.yahoo.com/news/stocks-mostly-higher-recovering-7-141625001.html

*Stocks fall for 8th day, longest decline since 2008 crisis*
[Associated Press]
Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks retreated for an eighth consecutive day on Thursday as nervous investors remain transfixed on the potential outcome of next week's U.S. presidential election, which has become too close to call.

The stock market is now on its longest losing streak since the depths of the 2008 financial crisis.

The Dow Jones industrial average dropped 28.97 points, or 0.2 percent, to 17,930.67. The Standard & Poor's 500 index lost 9.28 points, or 0.4 percent, to 2,088.66 and the Nasdaq composite index fell 47.16 points, or 0.9 percent, to 5,058.41.

With five days left until the election, Hillary Clinton maintains a lead in national polling in the U.S. presidential race but Donald Trump has significantly narrowed the gap, particularly in swing states. Investors pointed to polls released in the last two days from Florida, New Hampshire and North Carolina where the two candidates are either statistically tied or Trump holds a small lead.

Investors like certainty, which means they generally favor a Clinton victory as she is seen as maintaining the status quo. Trump's policies are less clear, and the uncertainty has caused jitters in financial markets. The last time the S&P 500 fell for eight straight days was early October 2008, the depths of the financial crisis. However the losses over this period have been modest, nowhere close to the losses racked up in 2008.

"It's a pretty simple equation: uncertainty goes up, stock market goes down," said David Kelly, chief global strategist with JPMorgan Funds.

The Mexican peso, which has become an indirect proxy among investors for Trump's chances at the White House, advanced 1 percent against the dollar on Thursday. Investors have speculated that a Trump administration would be negative for the Mexican economy, and would cause the Mexican peso's value to fall as a result.

The VIX, a measure of volatility that is called Wall Street's "fear gauge," jumped 16 percent this week to its highest level since June. The measure is up 36 percent this week alone.

Kelly said that Clinton is being considered a continuation of the Obama administration, which is mostly priced into the market, whereas Trump would represent a significant departure from current policies and would introduce a great deal more uncertainty into the economy. He expects the stock market to drop sharply if Trump wins.

In other parts of the market, generic drug makers plunged after news reports came out at the Department of Justice was looking to file charges, alleging price fixing, against the companies by end of year. Mylan lost $2.53, or 7 percent, to $34.14, Teva Pharmaceuticals fell $4.13, or 9.5 percent, to $39.20 and Endo International plunged $3.54, or 19.5 percent, to $14.63.

Facebook fell $7.22, or 6 percent, to $119.95. While the company reported third quarter results that easily exceeded analysts' estimates, it also acknowledged that growth in advertising revenue was slowing.

Fitbit, the maker of wearable fitness trackers and other devices, plunged $4.30, or 34 percent, to $8.51 after the company slashed its outlook for the year, citing weak demand for its products. The company also cut its sales forecast for the holiday shopping season.

The price of crude oil extended a losing streak into a fifth day. Benchmark U.S. crude slipped 68 cents to $44.66 a barrel in New York. Brent crude, the international standard, fell 51 cents at $46.35 a barrel in London.

Heating oil fell 1 cent to $1.45 a gallon, wholesale gasoline fell 2 cents to $1.43 a gallon and natural gas fell 2 cents to $2.769 per 1,000 cubic feet.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 1.81 percent from 1.80 percent a day earlier.

In currency trading, the dollar fell to 102.99 yen from 103.28 yen, while the euro edged up to $1.1099 from $1.1096 the day before.

In metals trading, gold fell $4.90 to $1,303.30 an ounce, silver fell 28 cents to $18.41 an ounce and copper fell 2 cents to $2.249 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-42.39	points or ▼	-0.24%	on	Friday, November 4, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	17,888.28	▼	-42.39	▼	-0.24%		
	Nasdaq____	5,046.37	▼	-12.04	▼	-0.24%		
	S&P_500___	2,085.18	▼	-3.48	▼	-0.17%		
	30_Yr_Bond____	2.57	▼	-0.03	▼	-1.12%		

NYSE Volume	 3,814,179,250 	 	 	 	 	  		 
Nasdaq Volume	 1,940,387,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,693.26	▼	-97.25	▼	-1.43%		
	DAX_____	10,259.13	▼	-66.75	▼	-0.65%		
	CAC_40__	4,377.46	▼	-34.22	▼	-0.78%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,263.10	▼	-43.50	▼	-0.82%		
	Shanghai_Comp	3,125.32	▼	-3.62	▼	-0.12%		
	Taiwan_Weight	9,068.15	▲	0.88	▲	0.01%		
	Nikkei_225___	16,905.36	▼	-229.32	▼	-1.34%		
	Hang_Seng.__	22,642.62	▼	-40.89	▼	-0.18%		
	Strait_Times.__	2,788.80	▼	-13.28	▼	-0.47%		
	NZX_50_Index_	6,708.47	▼	-70.47	▼	-1.04%		

http://finance.yahoo.com/news/stocks-decline-9th-day-despite-140239676.html

*S&P 500 index marks its longest losing streak in 36 years*
[Associated Press]
Ken Sweet, AP Business Writer

NEW YORK (AP) -- The slow, steady retreat of the stock market ahead of the 2016 election continued Friday, with the market falling for a ninth straight day. Wall Street is now in its longest period of decline in more than three decades.

Investors continue to focus on the U.S. presidential election, which has become too close for comfort for some investors and has put the market on the defensive.

The Dow Jones industrial average lost 42.39 points, or 0.2 percent, to 17,888.28. The Standard & Poor's 500 index lost 3.48 points, or 0.2 percent, to 2,085.18 and the Nasdaq composite lost 12.04 points, or 0.2 percent, to 5,046.37.

The last time the S&P 500 fell for nine straight days is December 1980, nearly 36 years ago. Ronald Reagan wasn't even president yet.

However the nine days' worth of declines has been relatively minor, comparatively speaking. The S&P 500 fell 9.4 percent during the 1980 nine-day losing streak, according to Howard Silverblatt at S&P Global Market Intelligence, compared with the 3.1 percent decline in this sell-off.

Investors point to one reason for the drop: Donald Trump.

With only a few days left until the election, Hillary Clinton is still leading in national polling but Trump appears to have considerably narrowed the gap, particularly in swing states. Investors like certainty, and Clinton is seen as likely to maintain the status quo. Trump's policies are less clear, and the uncertainty and uncomfortable closeness of the polls has caused jitters in financial markets.

"Some investors are afraid of Donald Trump becoming president," said Michael Scanlon, a portfolio manager at Manulife Asset Management.

Other portfolio managers and market strategists have made similar comments, saying that it is likely a drop would continue on Wall Street if Trump were to prevail, at least in the short term. The VIX, a measure of volatility nicknamed Wall Street's "fear gauge" because it allows investors to bet on how much the stock market will swing in the next 30 days, has surged 40 percent this week. It is at its highest level since June, when Britain voted to leave the European Union.

"No one really knows what Trump would do should he get into power, probably not even himself," said Joshua Mahony, market analyst at IG. "It is that uncertainty that is driving the market negativity that has dominated this week."

Some encouraging news on the U.S. economy did keep the market higher most of the day, but the gains faded in the last hour of trading. Traders did not want to hold positions into the weekend with the election and retreated to their usual hamlets of safety: U.S. government bonds and gold.

U.S. employers added a solid 161,000 jobs in October and raised pay sharply for many workers. The Labor Department's monthly employment report Friday sketched a picture of a resilient job market. The pace of hiring has been consistent with a decent economy. The unemployment rate fell to 4.9 percent from 5 percent. And average hourly pay took a big step up, rising 10 cents an hour to an average of $25.92. That is 2.8 percent higher than a year ago and is the sharpest 12-month rise in seven years.

"This is really good for the U.S. consumer, especially as we head into the critical holiday shopping season," Scanlon said.

With the election coming up in less than a week, the October jobs report is likely to give the Federal Reserve enough ammunition to raise interest rates at its December meeting, economists said. Fed policymakers ended a two-day meeting on Wednesday where they decided to hold rates steady.

"It seems that the only remaining obstacle to the Fed hiking in December would be a significant adverse financial market reaction to the U.S. presidential election," said Chris Williamson, chief business economist at IHS Markit, in an email.

In company news: GoPro, the maker of wearable cameras, lost 78 cents, or 6.5 percent, to $11.16. The company reported a 40 percent drop in revenue in the quarter, and gave a negative outlook for the holiday season. Like Fitbit, GoPro is showing signs of being unable to expand the audience for its product line. The stock did recover part of an earlier loss.

In energy, benchmark U.S. crude oil lost 59 cents to $44.07 a barrel on the New York Mercantile Exchange. Brent crude, the international standard, declined 77 cents to $45.58 a barrel in London.

4682


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	371.32	points or ▲	2.08%	on	Monday, November 7, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,259.60	▲	371.32	▲	2.08%		
	Nasdaq____	5,166.17	▲	119.80	▲	2.37%		
	S&P_500___	2,131.52	▲	46.34	▲	2.22%		
	30_Yr_Bond____	2.60	▲	0.03	▲	1.21%		

NYSE Volume	 3,647,595,500 	 	 	 	 	  		 
Nasdaq Volume	 1,764,768,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,806.90	▲	113.64	▲	1.70%		
	DAX_____	10,456.95	▲	197.82	▲	1.93%		
	CAC_40__	4,461.21	▲	83.75	▲	1.91%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,330.90	▲	67.80	▲	1.29%		
	Shanghai_Comp	3,133.33	▲	8.02	▲	0.26%		
	Taiwan_Weight	9,189.84	▲	121.69	▲	1.34%		
	Nikkei_225___	17,177.21	▲	271.85	▲	1.61%		
	Hang_Seng.__	22,801.40	▲	158.78	▲	0.70%		
	Strait_Times.__	2,800.95	▲	12.15	▲	0.44%		
	NZX_50_Index_	6,872.27	▲	163.80	▲	2.44%		

http://finance.yahoo.com/news/markets-now-us-stocks-open-143924484.html

*Markets Right Now: US stocks surge after FBI clears Clinton*

NEW YORK (AP) -- The latest on developments in U.S. financial markets (All times local):

4:00 p.m.

Stocks surged on Wall Street, breaking a nine-day losing streak, after the FBI said newly discovered emails didn't warrant any action against presidential candidate Hillary Clinton.

The Dow Jones industrial average jumped 371 points, or 2.1 percent, to 18,260 Monday.

Investors have been anxious over signs that the U.S. presidential race was tightening. The Standard & Poor's 500 index is coming off its longest losing streak since 1980. Monday's surge erased more than half of those losses.

The S&P 500 index gained 46 points, or 2.2 percent, to 2,131. The Nasdaq composite jumped 119 points, or 2.4 percent, to 5,166.

Banks and health care companies rose more than the rest of the market. JPMorgan Chase and UnitedHealth had some of the biggest gains in the Dow.

___

11:45 a.m.

Stocks are surging on Wall Street, breaking a nine-day losing streak, after the FBI said newly discovered emails didn't warrant any action against presidential candidate Hillary Clinton.

The Dow Jones industrial average jumped 328 points, or 1.8 percent, to 18,216 Monday.

Investors have been anxious in recent weeks over signs that the U.S. presidential race was tightening. The Standard & Poor's 500 index is coming off its longest losing streak since 1980. Monday's surge erased more than half of those losses.

The S&P 500 index gained 41 points, or 2 percent, to 2,127 in midday trading. The Nasdaq composite jumped 115 points, or 2 percent, to 5,162.

Banks and health care companies rose more than the rest of the market. UnitedHealth and JPMorgan Chase led the Dow higher.

___

9:35 a.m.

Stocks are opening sharply higher on Wall Street after the F.B.I. said newly discovered emails didn't warrant any action against presidential candidate Hillary Clinton.

The Dow Jones industrial average jumped 242 points, or 1.4 percent, to 18,128 shortly after the opening bell Monday.

Investors have been anxious in recent weeks over signs that the U.S. presidential race was tightening.

A key market benchmark, the Standard & Poor's 500 index, is coming off its longest losing streak since 1980, nine days of losses in a row.

Early Monday the S&P 500 index was up 30 points, or 1.5 percent, to 2,115. The Nasdaq composite climbed 80 points, or 1.6 percent, to 5,126.

Goldman Sachs and Microsoft had the biggest gains in the Dow.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	73.14	points or ▲	0.40%	on	Tuesday, November 8, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,332.74	▲	73.14	▲	0.40%		
	Nasdaq____	5,193.49	▲	27.32	▲	0.53%		
	S&P_500___	2,139.56	▲	8.04	▲	0.38%		
	30_Yr_Bond____	2.63	▲	0.02	▲	0.92%		

NYSE Volume	 3,899,575,000 	 	 	 	 	  		 
Nasdaq Volume	 1,667,751,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,843.13	▲	36.23	▲	0.53%		
	DAX_____	10,482.32	▲	25.37	▲	0.24%		
	CAC_40__	4,476.89	▲	15.68	▲	0.35%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,342.20	▲	11.30	▲	0.21%		
	Shanghai_Comp	3,147.89	▲	14.55	▲	0.46%		
	Taiwan_Weight	9,217.43	▲	27.59	▲	0.30%		
	Nikkei_225___	17,171.38	▼	-5.83	▼	-0.03%		
	Hang_Seng.__	22,909.47	▲	108.07	▲	0.47%		
	Strait_Times.__	2,820.24	▲	19.29	▲	0.69%		
	NZX_50_Index_	6,894.36	▲	22.09	▲	0.32%		

http://finance.yahoo.com/news/us-stocks-edge-lower-investors-151914482.html

*US Stocks Close Broadly Higher as Investors Eye Election*
By alex veiga, ap business writer

 Investors remained in a buying mood on Election Day, sending U.S. stocks broadly higher and building on big gains from a day earlier.

Safe-play stocks such as utilities and phone companies were among the biggest gainers Tuesday. Energy companies were essentially flat.

Investors focused on the U.S. presidential election, which rattled financial markets in recent weeks as polls between Hillary Clinton and Donald Trump tightened.

Wall Street has largely seen Clinton as more likely to maintain the status quo, while viewing Trump's polices as less clear. Tuesday's rally, coupled with Monday's market gains, which marked the end of a nine-day losing streak and the best day for stocks since March, suggest the market anticipated a Clinton win.

"The market has been looking for the status quo result, and the polling in the last couple of days shows that result is a good likelihood," said Mike Baele, senior portfolio manager at the Private Client Reserve at U.S. Bank. "That's the reason why the market is bouncing here."

The Dow Jones industrial average rose 73.14 points, or 0.4 percent, to 18,332.74. The average was briefly up as much as 140 points. The Standard & Poor's 500 index gained 8.04 points, or 0.4 percent, to 2,139.56. The Nasdaq composite index added 27.32 points, or 0.5 percent, to 5,193.49.

Trading got off to a downbeat start, weighed down by disappointing earnings from Valeant Pharmaceuticals, CVS Health and other companies. But the market recovered by midmorning as investors' sized up news reports on early voting trends.

Clinton entered Election Day with multiple paths to victory, while Trump needed to prevail in most of the battleground states to reach 270 Electoral College votes. Control of the Senate was also at stake.

Investors have been expecting Clinton to win the presidency, the Democrats to take back the Senate and the Republicans to hold on to the House of Representatives, said Erik Davidson, chief investment officer for Wells Fargo Private Bank.

"That's sort of the base case," he said. "A Trump victory, the markets are not fully ready for that. That could certainly cause some volatility in the markets tomorrow if we have that outcome, and if it's conclusive."

Beyond the election, investors monitored the latest batch of company earnings.

Priceline Group climbed 6.6 percent after the online travel booking company reported quarterly earnings that easily beat analysts' forecasts. The stock gained $97.80 to $1,578.13.

Marriott International gained 2.7 percent after the hotel chain posted a big increase in earnings and revenue for the most recent quarter. The stock added $1.92 to $73.02.

SeaWorld Entertainment jumped 8.1 percent after the embattled parks operator said it has been able to stem falling attendance after a bruising fight with animal rights activists that led to the closure of its orca breeding program. The stock gained $1.16 to $15.41.

Other companies' latest quarterly report cards failed to impress investors.

Hertz plunged 22.5 percent after the car rental company's latest quarterly earnings came up far short of what analysts anticipated. The stock, which was down more than 50 percent at one point, slid $8.04 to $27.70.

CVS Health tumbled 11.8 percent after the drugstore chain and pharmacy benefits manager's third-quarter revenue fell short of Wall Street's expectations. The company also trimmed its outlook. The stock shed $9.86 to $73.53.

Depomed sank 17 percent after the drugmaker reported lower-than-anticipated quarterly earnings. The stock dropped $3.88 to $19.01.

Valeant Pharmaceuticals International slumped 21.7 percent after the Canadian drugmaker reported a third-quarter loss. The company also slashed its guidance as it continues to face scrutiny over its business practices. The stock lost $4.15 to $14.98.

Markets overseas closed mostly higher. In Europe, Germany's DAX rose 0.2 percent, while France's CAC-40 gained 0.4 percent. London's FTSE 100 added 0.5 percent. Earlier in Asia, stock indexes closed mostly higher. Hong Kong's Hang Seng rose 0.5 percent, while Seoul's Kospi added 0.3 percent. Tokyo's Nikkei 225 was little changed.

Benchmark U.S. crude rose 9 cents to close at $44.98 a barrel in New York. Brent crude, used to price international oils, slid 11 cents to close at $46.04 a barrel in London. Other energy futures were also mixed. Wholesale gasoline was little changed at $1.37 a gallon. Heating oil also held steady at $1.44 a gallon. Natural gas fell 18 cents, or 6.5 percent, to $2.63 per 1,000 cubic feet.

In metals trading, the price of gold slid $4.90 to $1,274.50 an ounce, while silver gained 21 cents, or 1.1 percent, to $18.36 an ounce. Copper added 7 cents, or 3.1 percent, to $2.38 a pound.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.86 percent from 1.83 percent late Monday.

In currency markets, the dollar rose to 105.05 yen from 104.58 yen. The euro weakened to $1.1016 from $1.1040. The Mexican peso, which has become an indirect proxy among investors for Trump's chances to win the White House, rose against the dollar. The U.S. currency fell to 18.42 Mexican pesos from 18.68 pesos.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	256.95	points or ▲	1.40%	on	Wednesday, November 9, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,589.69	▲	256.95	▲	1.40%		
	Nasdaq____	5,251.07	▲	57.58	▲	1.11%		
	S&P_500___	2,163.26	▲	23.70	▲	1.11%		
	30_Yr_Bond____	2.88	▲	0.26	▲	9.75%		

NYSE Volume	 6,231,531,500 	 	 	 	 	  		 
Nasdaq Volume	 2,687,983,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,911.84	▲	68.71	▲	1.00%		
	DAX_____	10,646.01	▲	163.69	▲	1.56%		
	CAC_40__	4,543.48	▲	66.59	▲	1.49%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,238.30	▼	-103.90	▼	-1.94%		
	Shanghai_Comp	3,128.37	▼	-19.52	▼	-0.62%		
	Taiwan_Weight	8,943.20	▼	-274.23	▼	-2.98%		
	Nikkei_225___	16,251.54	▼	-919.84	▼	-5.36%		
	Hang_Seng.__	22,415.19	▼	-494.28	▼	-2.16%		
	Strait_Times.__	2,789.88	▼	-30.36	▼	-1.08%		
	NZX_50_Index_	6,664.21	▼	-230.15	▼	-3.34%		

http://finance.yahoo.com/news/us-stocks-mixed-early-trade-153305019.html

*US stocks surge following Trump victory; bond prices tumble*
[Associated Press]
ALEX VEIGA and PAN PYLAS

Major U.S. stock indexes moved higher in morning trading Wednesday as Wall Street sized up the implications of Donald Trump's stunning presidential election victory.

The solid gains marked a reversal from earlier in the morning, when global stock markets were roiled after it became clear that Trump had sealed the win over Hillary Clinton.

Markets had been jittery in recent weeks over the prospect of a Trump administration. But conciliatory comments from the president-elect helped global stock markets recover a large chunk of their earlier losses.

On Wall Street, health care sector companies led the gainers, surging 2.9 percent. Investors had feared Clinton would implement curbs on drug pricing increases that could hurt drugmakers and biotechnology companies. Pfizer jumped 7 percent, the biggest gain in the Dow Jones industrial average.

Financial stocks were also heading sharply higher. Utilities were down the most, sliding 3.3 percent, followed closely by consumer-focused stocks. Crude oil prices also headed lower.

The Dow was up 142 points, or 0.8 percent, to 18,472 as of 11:33 a.m. Eastern Time. The Standard & Poor's 500 index gained 15 points, or 0.7 percent, to 2,154. The Nasdaq composite index rose 37 points, or 0.7 percent, to 5,231.

A sell-off in bonds sent prices tumbling, driving the yield on the 10-year Treasury note up to 1.97 percent from 1.86 percent late Tuesday, a large move. Traders are selling bonds to hedge against the possibility that interest rates, which have been ultra-low for years, could rise steadily again under a Trump administration, said Tom di Galoma, managing director of trading at Seaport Global Securities.

"People are starting to believe that Donald Trump is good for the economy, which makes him not so good for the bond market," di Galoma said. "You've also had the stock market come back overnight. People are starting to realize that a Trump presidency is not the end of the world."

Though uncertainty remains over Trump's trade, immigration and geopolitical policies and what his victory means for the future of globalization, investors appeared somewhat calmed by his victory speech, in which he praised Clinton and urged Americans to "come together as one united people" after a divisive campaign.

"While Trump slightly soothed some concerns in his victory speech, uncertainty remains over what kind of a U.S. he plans to lead," said Craig Erlam, senior market analyst at OANDA.

In Europe, Germany's DAX was up 1.1 percent, while France's CAC-40 gained 1 percent. The FTSE 100 index of leading British shares was 0.6 percent higher.

As Trump gained the lead in the electoral vote count, share prices tumbled in Asia, which were open during the election results.

By the time Trump was confirmed the winner and made his speech, financial markets had steadied. The dollar also recouped some ground, while assets that many investors search out at times of uncertainty, such as gold, came off earlier highs.

One currency that remained heavily sold is the Mexican peso. It was down 8.4 percent as the prospect of a wall along the United States' southern border, a key campaigning point for Trump, has come one step closer to reality. Trump has insisted that Mexico will pay for the wall. The U.S. currency rose sharply to 20.01 Mexican pesos from 18.68 pesos.

Also potentially impacting the peso is Trump's threat to rip up trade deals like the North American Free Trade Agreement, a key plank in Mexico's economic strategy and growth.

"If Trump is able to follow through with these suggestions, Mexican activity will suffer greatly," said Jane Foley, senior foreign exchange strategist at Rabobank International.

Trump doesn't formally take the reins of power until January but he will begin the transition to his presidency almost immediately. In the coming weeks, investors will be looking to see if he further tempers some of the rhetoric that polarized American opinion and often spooked investors in financial markets.

Another point of interest will center on the U.S.'s trade relations with China and its impact across Asia. Trump's victory has raised concerns that the U.S. and China might embark on a trade war of sorts and that protectionism around the world will grow.

Those concerns weighed heavily on Asian stocks. Japan's Nikkei 225 index closed 5.4 percent lower, recouping some losses. Hong Kong's Hang Seng closed 2.2 percent lower.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	218.19	points or ▲	1.17%	on	Thursday, November 10, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,807.88	▲	218.19	▲	1.17%		
	Nasdaq____	5,208.80	▼	-42.28	▼	-0.81%		
	S&P_500___	2,167.48	▲	4.22	▲	0.20%		
	30_Yr_Bond____	2.93	▲	0.05	▲	1.60%		

NYSE Volume	 6,415,089,500 	 	 	 	 	  		 
Nasdaq Volume	 2,838,754,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,827.98	▼	-83.86	▼	-1.21%		
	DAX_____	10,630.12	▼	-15.89	▼	-0.15%		
	CAC_40__	4,530.95	▼	-12.53	▼	-0.28%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,408.90	▲	170.60	▲	3.26%		
	Shanghai_Comp	3,171.28	▲	42.91	▲	1.37%		
	Taiwan_Weight	9,152.18	▲	208.98	▲	2.34%		
	Nikkei_225___	17,344.42	▲	1,092.88	▲	6.72%		
	Hang_Seng.__	22,839.11	▲	423.92	▲	1.89%		
	Strait_Times.__	2,834.09	▲	44.21	▲	1.58%		
	NZX_50_Index_	6,733.72	▲	69.51	▲	1.04%		

http://finance.yahoo.com/news/us-stocks-mostly-higher-afternoon-trading-oil-slumps-183153925.html

*US Stocks Mixed Overall as Dow Sets Record High; Oil Slumps*
ALEX VEIGA AP

 Banks and other financial companies led U.S. stocks mostly higher Thursday, propelling the Dow Jones industrial average to a record high.

The Standard & Poor's 500 index, a broader measure of the stock market, also eked out a gain, adding to a big rally the day before following Donald Trump's presidential election victory. The Nasdaq composite closed lower, weighed down by a slide in technology companies. Bond prices slumped again, sending yields higher.

"You are seeing a massive swing out of cash and fixed-income and into equities to take advantage of this pro-growth cycle that the market believes we're beginning," said David Lyon, global investment specialist at J.P. Morgan Private Bank.

The Dow climbed 218.19 points, or 1.2 percent, to 18,807.88. That's a gain of about 1 percent from the average's previous record high set on Aug. 15. The S&P 500 index added 4.22 points, or 0.2 percent, to 2,167.48.

The Dow and S&P 500 index are on a four-day winning streak. The tech-heavy Nasdaq lost 42.28 points, or 0.8 percent, to 5,208.80.

Investors continued to make moves based on the bevy of possible policy changes that the Trump administration could implement once it takes over in January. Those include cutting taxes, increasing infrastructure spending and slashing government regulation of businesses.

That's particularly given a boost to financial, industrial and health care stocks, while prompting traders to sell consumer goods companies, utilities and phone companies. Investors have also continued to pull out of bonds in anticipation that Trump's policies could usher in stronger economy and, possibly, higher inflation, both of which are bad for bonds.

The sell-off in bonds continued Thursday, sending bond prices lower and kicking the yield on the 10-year Treasury note up to 2.15 percent, the highest it's been since January, from 2.06 percent late Wednesday. That yield is a benchmark used to set interest rates on many kinds of loans including home mortgages.

Traders have been selling bonds more aggressively to hedge against the possibility that interest rates, which have been ultra-low for years, could rise steadily again under Trump's administration.

That scenario would favor banks and other financial companies, one reason why the sector continued to rally Thursday. Higher interest rates help banks earn more money from lending, and years of ultra-low rates have crimped profits at big banks.

JPMorgan Chase led the 30 companies in the Dow, climbing $3.40, or 4.6 percent, to $76.65. It was followed by Goldman Sachs, which rose $8.24, or 4.3 percent, to $200.87.

Wells Fargo gained $3.64, or 7.6 percent, to $51.63, while Discover Financial Services added $3.31, or 5.5 percent, to $63.60.

Traders also bid up shares in Macy's and Kohl's after the companies reported their latest quarterly results.

Macy's rose $2.1, or 5.6 percent, to $40.53. Kohl's was the biggest gainer in the S&P 500, adding $5.27, or 11.5 percent, to $50.97.

Some big names in the technology sector closed lower.

Netflix slumped $6.77, or 5.5 percent, to $115.42, while Amazon.com slid $29.50, or 3.8 percent, to $742.38. Microsoft fell $1.47, or 2.4 percent, to $58.70.

Shares in several phone companies also slumped. AT&T lost 87 cents, or 2.3 percent, to $36.57, while Verizon slid $1.17, or 2.4 percent, to $46.69.

The major stock indexes in Europe turned lower after an early rally. Germany's DAX slid 0.1 percent, while the CAC-40 in France fell 0.3 percent. Britain's FTSE 100 lost 1.2 percent. Optimism that Trump's election will improve U.S.-Russia relations helped lift the Micex index in Moscow 0.9 percent.

Markets in Asia fared better. Japan's benchmark Nikkei 225 index rocketed 6.7 percent after sliding more than 5 percent the day before. South Korea's Kospi advanced 2.3 percent and Hong Kong's Hang Seng added 1.9 percent. Australia's S&P/ASX 200 surged 3.3 percent.

Crude oil prices declined. Benchmark U.S. crude fell 61 cents, or 1.3 percent, to close at $44.66 a barrel in New York. Brent crude, used to price international oils, lost 52 cents, or 1.1 percent, to close at $45.84 a barrel in London.

Other energy futures also closed lower. Wholesale gasoline slid 2 cents to $1.34 a gallon. Heating oil fell a penny to $1.44 a gallon. Natural gas lost 6 cents, or 2.2 percent, to $2.63 per 1,000 cubic feet.

In metals trading, the price of gold fell $7.10 to $1,266.40 an ounce, while silver added 36 cents, or 2 percent, to $18.74 an ounce. Copper rose 9 cents, or 3.7 percent, to $2.55 a pound.

In currency trading, the dollar continued to strengthen Thursday.

The U.S. currency rose to 106.83 yen from 105.84 yen on Wednesday, while the euro slid to $1.0890 from $1.0930. The Mexican peso continued to weaken against the dollar.

One dollar bought 20.61 pesos on Thursday, more than the 19.87 pesos it bought late Wednesday. Investors worry that Trump's anti-immigration stance and intention to repeal a trade pact with Mexico could hurt that country's economy.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	39.78	points or ▲	0.21%	on	Friday, November 11, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,847.66	▲	39.78	▲	0.21%		
	Nasdaq____	5,237.11	▲	28.32	▲	0.54%		
	S&P_500___	2,164.45	▼	-3.03	▼	-0.14%		
	30_Yr_Bond____	2.93	▲	0.00	▲	0.00%		

NYSE Volume	 4,971,765,000 	 	 	 	 	  		 
Nasdaq Volume	 2,129,269,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,730.43	▼	-97.55	▼	-1.43%		
	DAX_____	10,667.95	▲	37.83	▲	0.36%		
	CAC_40__	4,489.27	▼	-41.68	▼	-0.92%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,446.60	▲	37.70	▲	0.70%		
	Shanghai_Comp	3,196.04	▲	24.76	▲	0.78%		
	Taiwan_Weight	8,957.76	▼	-194.42	▼	-2.12%		
	Nikkei_225___	17,374.79	▲	30.37	▲	0.18%		
	Hang_Seng.__	22,531.09	▼	-308.02	▼	-1.35%		
	Strait_Times.__	2,814.60	▼	-19.49	▼	-0.69%		
	NZX_50_Index_	6,697.78	▼	-35.94	▼	-0.53%		

http://finance.yahoo.com/news/us-stocks-slightly-down-early-152702758.html 

*US stocks close mostly higher as Dow sets record high*

By ALEX VEIGA
AP Business Writer

It was perhaps the most surprising trade in a record-setting week on Wall Street: How quickly investors swapped presidential pre-election jitters for enthusiasm at Donald Trump's victory over Hillary Clinton.

That enthusiasm - call it the Trump rally - ultimately propelled the Dow Jones industrial average to consecutive all-time highs this week and gave the Standard and Poor's 500 index its biggest weekly gain in two years. The rally lost some steam Friday, pulling the S&P 500 slightly lower.

The Dow rose 39.78 points, or 0.2 percent, to 18,847.66. The S&P 500 index fell 3.03 points, or 0.1 percent, to 2,164.45. The Nasdaq composite index gained 28.32 points, or 0.5 percent, to 5,237.11.

For months, investors viewed Trump and his proposed agenda as a more risky bet for the economy and the markets than his rival, who had been widely perceived as the candidate most likely to keep the status quo in place.

But then the billionaire won. And, more importantly, Republicans retained majorities in the House and Senate, ensuring that the president-elect's party will be in control when he takes office on January 20.

"I don't think people planned on a straight Republican sweep," said J.J. Kinahan, TD Ameritrade's chief strategist. "All of a sudden you realize some of the things that the markets have been wishing for have a chance to be done. That's why we've rallied so much. This scenario was such a low probability, nobody was planning for it."

Investors are now betting that Trump and a Republican-controlled congress will have a clear pathway to boost infrastructure spending, cut taxes and relax regulations that affect energy, finance and other businesses.

That agenda flipped investors' priorities this week away from defensive assets like bonds, utilities and phone companies, which traders had favored for much of this year, to health care, industrial and financial stocks, which notched their best week since 2009.

The trades mark a reversal from the last couple of years, when investors coped with government gridlock, sluggish economic growth and low interest rates by prizing less-risky assets and stocks like phone companies and utilities with high dividends.

Health care stocks are perhaps the best example of how investors' mindset has changed in just a few days.

The sector had been one of the worst performers this year in anticipation that Clinton, who had mostly maintained a lead in the polls, would push to expand the government's role in health care and curb price increases by drugmakers. That began to turn around this week, as investors bid up shares in pharmaceutical companies.

Banks also were seen to be potentially hurt by a Clinton win. But this week they went from being a laggard to one of the biggest gainers. The sector is benefiting from the expectation that the Trump administration will remove some of the regulations imposed on banks following the 2008 financial crisis.

"You're seeing strength in those sectors that are going to best be positioned for those changes," said David Lyon, global investment specialist at J.P. Morgan Private Bank. "There's been a massive shift toward a pro-growth bias within portfolios."

Investors also are betting that Trump's policies will lead to higher interest rates, which benefits banks by making it more profitable to lend money.

The anticipation of higher interest rates fueled the sell-off in bonds this week that sent bond prices lower and drove up the yield on the 10-year Treasury note to the highest level since January. On Monday it was 1.83 percent. It hit 2.14 percent as of late Thursday. Bond trading was closed Friday in observance of Veterans' Day.

That yield is a benchmark used to set interest rates on many kinds of loans including home mortgages.

The move away from bonds, utilities and other safe-play assets is likely to continue as long as investors believe that Trump's economic policies will lead to growth in the economy and usher in higher interest rates.

"You've seen people rotating out of them this week because they don't feel the need for the straight safety play, they don't need necessarily the yield of the safe stocks longer-term if they believe that the interest rate market is going to continue higher," Kinahan said.

Despite the market's enthusiasm this week, there is still an element of uncertainty about the Trump administration. Kinahan worries about the impact on the economy should inflation rise quickly. "That's a major worry," he said.

Then there's the question of what steps Trump will take to clamp down on illegal immigration and to renegotiate trade deals with other countries.

"What sounded great on the campaign trail may not be actually so great to a lot of businesses, particularly technology," Kinahan said.

5274


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	21.03	points or ▲	0.11%	on	Monday, November 14, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,868.69	▲	21.03	▲	0.11%		
	Nasdaq____	5,218.40	▼	-18.72	▼	-0.36%		
	S&P_500___	2,164.20	▼	-0.25	▼	-0.01%		
	30_Yr_Bond____	2.98	▲	0.05	▲	1.84%		

NYSE Volume	 5,360,202,000 	 	 	 	 	  		 
Nasdaq Volume	 2,236,906,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,753.18	▲	22.75	▲	0.34%		
	DAX_____	10,693.69	▲	25.74	▲	0.24%		
	CAC_40__	4,508.55	▲	19.28	▲	0.43%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,420.30	▼	-26.30	▼	-0.48%		
	Shanghai_Comp	3,210.37	▲	14.33	▲	0.45%		
	Taiwan_Weight	8,940.40	▼	-17.36	▼	-0.19%		
	Nikkei_225___	17,672.62	▲	297.83	▲	1.71%		
	Hang_Seng.__	22,222.22	▼	-308.87	▼	-1.37%		
	Strait_Times.__	2,787.27	▼	-27.33	▼	-0.97%		
	NZX_50_Index_	6,737.76	▲	39.98	▲	0.60%		

http://finance.yahoo.com/news/us-stocks-move-higher-banks-153541887.html

*US stocks finish level as tech losses cancel out bank gains*
[Associated Press]
MARLEY JAY

NEW YORK (AP) ”” U.S. stocks came back from an early loss and finished almost unchanged Monday. Technology companies like Apple and Microsoft took big losses on fears about their overseas revenue, but bank stocks continued to surge along with bond yields.

Technology stocks have been weak since last week's election, and they fell further Monday as investors wonder if Donald Trump's policies as president will hurt their sales in China and other markets overseas. Bank stocks built on their post-election gains as bond yields continued to rise. That paves the way for banks to make more money from lending. Government bond yields are now at their highest levels since January.

"The market is sniffing out the belief that some of these Trump policies may drive some better economic growth but also may in fact be somewhat inflationary," said PNC Chief Investment Strategist Bill Stone.

The Dow Jones industrial average gained 21.03 points, or 0.1 percent, to close at 18,868.69, another all-time high. The Standard & Poor's 500 index dipped 0.25 points to 2,164.20 after it fell as much as 0.4 percent earlier. The Nasdaq composite sank 18.72 points, or 0.4 percent, to 5,218.40.

Technology companies fell sharply, with familiar names taking some of the largest losses. Apple gave up $2.72, or 2.5 percent, to $105.71 while Facebook declined $3.94, or 3.3 percent, to $115.08 and Microsoft slid 90 cents, or 1.5 percent, to $58.12. Alphabet, the parent company of Google, slipped $18.53, or 2.4 percent, to $753.22.

Bond prices fell and yields jumped as investors anticipated that Trump's spending plans would lead to higher inflation and more government borrowing. The yield on the 10-year U.S. Treasury note climbed to 2.25 percent from 2.14 percent late Thursday. Bond trading was closed Friday for the Veterans' Day holiday. The day before the Nov. 8 election, the yield was 1.83 percent. That's a huge move for that benchmark rate.

Goldman Sachs rose $5.24 percent, to 2.6 percent, to $209.18 and Bank of America rose $1.06, or 5.6 percent, to $20.08. JPMorgan Chase picked up $2.82, or 3.7 percent, to $79.51.

Stone said investors are focused on potential corporate and individual tax cuts, a "wave of deregulation" that eliminates some of the rules governing businesses like energy companies and banks, and more protectionism on trade, which could hurt sales for companies that do a lot of business overseas.

Investors are also pleased at the prospect of looser regulation and bigger profits. For example, Trump's election could result in big changes to the Dodd-Frank financial reform bill or to the Consumer Financial Protection Bureau. Stone added that corporate dealmaking could increase if Trump's administration takes a looser approach to antitrust regulation. Several companies announced deals or deal offers Monday.

South Korean conglomerate Samsung said it will buy Harman International for $8 billion, or $112 a share. Harman makes electronics for cars including audio systems and safety and entertainment features. Its stock jumped $22.07, or 25.2 percent, to $109.72.

German industrial equipment company Siemens agreed to buy software maker Mentor Graphics for $4.5 billion, or $37.25 a share. Mentor's stock rose $5.61, or 18.3 percent, to $36.29.

Shares of communication adapter maker Digi International rose $1.75, or 15 percent, to $13.40 after the company said it received an offer from Belden, a communications equipment company. Digi said it rejected the bid of $13.82 a share, or about $359 million, because it's too low. Belden stock added $1.52, or 2.2 percent, to $71.22.

The dollar rose against other currencies as U.S. interest rates rose. It jumped to 108.51 Japanese yen from 106.78 yen. The euro fell to $1.0726 from $1.0845.

Investors are also selling companies that pay big dividends like utilities and phone companies as bonds become more appealing to investors seeking income. Verizon fell 51 cents, or 1.1 percent, to $46.18 and American Electric Power lost $1.27, or 2.1 percent, to $58.72.

Oil prices bounced back from a big loss early on. Benchmark U.S. crude slipped just 9 cents to $43.32 a barrel in New York. Brent crude, used to price international oils, lost 32 cents to $44.43 a barrel in London.

In other energy trading, wholesale gasoline lost 3 cents to $1.28 a gallon. Heating oil fell 2 cents to $1.39 a gallon. Natural gas jumped 13 cents, or 5 percent, to $2.75 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	54.37	points or ▲	0.29%	on	Tuesday, November 15, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,923.06	▲	54.37	▲	0.29%		
	Nasdaq____	5,275.62	▲	57.23	▲	1.10%		
	S&P_500___	2,180.39	▲	16.19	▲	0.75%		
	30_Yr_Bond____	2.97	▼	-0.01	▼	-0.30%		

NYSE Volume	 4,521,399,000 	 	 	 	 	  		 
Nasdaq Volume	 2,048,604,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,792.74	▲	39.56	▲	0.59%		
	DAX_____	10,735.14	▲	41.45	▲	0.39%		
	CAC_40__	4,536.53	▲	27.98	▲	0.62%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,399.80	▼	-20.50	▼	-0.38%		
	Shanghai_Comp	3,206.99	▼	-3.39	▼	-0.11%		
	Taiwan_Weight	8,931.03	▼	-9.37	▼	-0.10%		
	Nikkei_225___	17,668.15	▼	-4.47	▼	-0.03%		
	Hang_Seng.__	22,323.91	▲	101.69	▲	0.46%		
	Strait_Times.__	2,797.55	▲	10.28	▲	0.37%		
	NZX_50_Index_	6,770.43	▲	32.67	▲	0.48%		

http://finance.yahoo.com/news/us-stocks-rise-surging-oil-151832010.html

*Energy companies lead indexes higher as oil price soars*
[Associated Press]
MARLEY JAY

NEW YORK (AP) ”” U.S. stocks climbed Tuesday as the price of oil made its biggest jump in seven months and energy companies rose with it. Technology stocks like Microsoft and Google's parent Alphabet traded higher and bond yields slipped, a break with the pattern since last week's election.

Oil rose almost 6 percent as investors once again grew hopeful that the OPEC cartel will agree to cut fuel production in a few weeks. Companies like utilities and telecom service providers climbed as bond yields fell slightly after a week of large gains. Airlines rose after Warren Buffett made a surprise investment in three carriers.

"The market somehow decided 'let's give the Trump presidency a chance," said John DeClue, chief investment officer for U.S. Bank's private client reserve. However DeClue said the bond market could struggle with Trump in the White House: if taxes are cut and government spending rises sharply, that could lead to climbing deficits that would trouble investors in U.S. government debt.

The Dow Jones industrial average picked up 54.37 points, or 0.3 percent, to 18,923.06, as those gains were partly held back by losses for retailer Home Depot and aerospace company Boeing. The Standard & Poor's 500 index rose 16.19 points, or 0.7 percent, to 2,180.39. The Nasdaq composite added 57.23 points, or 1.1 percent, to 5,275.62.

Energy companies like Exxon Mobil and Occidental Petroleum made large gains as the price of oil rose by the largest amount since early April. At least for a day, investors were hopeful that the nations of OPEC will be able to hammer out a deal to cut oil production, which would boost prices. OPEC agreed to a preliminary deal in September but still have to work out important details.

Benchmark U.S. crude gained $2.49, or 5.7 percent, to $45.81 per barrel in New York. Brent crude, used to price international oils, rose $2.52, or 5.7 percent, to $46.95 a barrel in London. Exxon rose $1.54, or 1.8 percent, to $86.82 and Apache added $4.46, or 7.6 percent, to $63.39.

Tuesday's trading was a partial reversal of the moves investors have made since the presidential election one week ago. Tech stocks have been losing ground recently, but Microsoft picked up $1.14, or 2 percent, to $58.87 and graphics processor maker Nvidia rose $2.55, or 3 percent, to $86.19.

Bond prices edged higher, sending long-term interest rates slightly lower. Bond prices had fallen sharply since the election over worries that President-elect Donald Trump's spending plans would lead to higher inflation. That had sent yields to their highest levels this year. But the yield on the 10-year Treasury note declined to 2.23 percent from 2.27 percent. Companies that pay large dividends, like phone companies, also changed course and rose.

However the dollar continued to get stronger and reached its highest level in almost a year. It rose to 109.32 yen from 108.51 yen. The euro slid to $1.0718 from $1.0726.

Billionaire investor Warren Buffett's Berkshire Hathaway bought stock in United Continental, American Airlines and Delta. Buffett has avoided the volatile industry in the past, but his holding company disclosed stakes in each company in a form filed with the Securities and Exchange Commission. United picked up $3.12, or 5 percent, to $66.06 and American gained $1.36, or 3.1 percent, to $44.76.

Aerospace giant Boeing fell after United said that it will postpone delivery of 61 new Boeing 737 jets that it planned to buy. It will convert the orders to a new, more fuel-efficient model that Boeing calls the 737 Max. Boeing stock lost $1.88, or 1.3 percent, to $148.11.

Retail sales climbed 0.8 percent in October as consumers spent more money on products including cars and home and garden supplies. Retail sales over last two months have been the strongest in more than two years, which shows consumers are still spending.

The report showed continued gains for online retailers. Amazon jumped $24.17, or 3.4 percent, to $743.24 while department stores traded lower as they continued to lose sales.

Equity One will combine with Regency Center in a deal that combines two real estate investment trusts that own shopping centers. The two companies have more than 400 properties, most of them anchored by grocery stores. Equity One climbed $1.90, or 6.8 percent, to $29.77 while Regency Center lost $2.95, or 4.2 percent, to $66.91.

Chinese e-commerce company JD.com climbed after it reported strong quarterly results. The company also said it might reorganize its JD Finance unit, which runs its internet finance business. JD.com said expects to sell its stake in the company and that JD Finance will be owned solely by Chinese investors. The stock climbed $2.70, or 11.4 percent, to $26.41.

In other energy trading, wholesale gasoline rose 6 cents, or 4.5 percent, to $1.34 a gallon. Heating oil picked up 6 cents, or 4.2 percent, to $1.44 a gallon. Natural gas lost 4 cents to $2.71 per 1,000 cubic feet.

Gold rose $2.80 to $1,224.50 an ounce. Silver picked up 15 cents to $17.04 an ounce, while copper gave up 2 cents to $2.51 a pound.

Britain's FTSE 100 index rose 0.6 percent and the CAC-40 in France was also 0.6 percent higher. Germany's DAX gained 0.4 percent. Seoul's Kospi shed 0.3 percent and the Nikkei 225 in Japan finished little changed. Hong Kong's Hang Seng gained 0.5 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-54.92	points or ▼	-0.29%	on	Wednesday, November 16, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,868.14	▼	-54.92	▼	-0.29%		
	Nasdaq____	5,294.58	▲	18.96	▲	0.36%		
	S&P_500___	2,176.94	▼	-3.45	▼	-0.16%		
	30_Yr_Bond____	2.93	▼	-0.05	▼	-1.58%		

NYSE Volume	 3,810,145,250 	 	 	 	 	  		 
Nasdaq Volume	 1,962,923,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,749.72	▼	-43.02	▼	-0.63%		
	DAX_____	10,663.87	▼	-71.27	▼	-0.66%		
	CAC_40__	4,501.14	▼	-35.39	▼	-0.78%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,399.60	▼	-0.20	▲	0.00%		
	Shanghai_Comp	3,205.06	▼	-1.93	▼	-0.06%		
	Taiwan_Weight	8,962.22	▲	31.19	▲	0.35%		
	Nikkei_225___	17,862.21	▲	194.06	▲	1.10%		
	Hang_Seng.__	22,280.53	▼	-43.38	▼	-0.19%		
	Strait_Times.__	2,793.99	▼	-3.56	▼	-0.13%		
	NZX_50_Index_	6,824.58	▲	54.15	▲	0.80%		

http://finance.yahoo.com/news/rally-fades-banks-lead-stocks-lower-dollar-still-151700684.html

*Bank rally fades and stocks fall; dollar hits 13-year high*
[Associated Press]
MARLEY JAY

NEW YORK (AP) ”” U.S. stocks finished barely lower Wednesday as banks return some of the huge gains they've made since the presidential election last week, but technology and consumer stocks climbed. The dollar continued to appreciate against other currencies and reached its highest mark in 13 years.

Banks took the biggest losses as a seven-day rally in that sector petered out. Industrial companies, also big gainers since the election, traded lower as well. The price of oil gave back some of its enormous gain from the day before. Graphics processor maker Nvidia and household names like Apple and Microsoft led technology companies higher. Rising stocks outnumbered decliners.

The dollar has been very strong in recent years, just not this strong, and it's been pretty stable compared to other currencies. But in the wake of the election, investors think the U.S. economy might grow a bit faster and inflation might pick up.

"What's pushed the dollar higher here in the short term is with the Trump win, particularly combined with (Republicans) holding on to the Senate," said Scott Wren, a senior global equity strategist at the Wells Fargo Investment Institute. Still, Wren doesn't think the dollar will rise much further.

The Dow Jones industrial average slid 54.92 points, or 0.3 percent, to 18,868.14. The Standard & Poor's 500 index lost 3.45 points, or 0.2 percent, to 2,176.94. The Nasdaq composite picked up 18.96 points, or 0.4 percent, to 5,294.58.

After a long losing streak before the election, the Dow had risen for seven days in a row through Tuesday and set several all-time highs. The S&P 500 and Nasdaq have also made large gains and are near the records they set this fall.

JPMorgan Chase led banks lower as it fell $1.96, or 2.5 percent, to $77.40 and Morgan Stanley lost 81 cents, or 2 percent, to $39.19. Banks are coming off their best single week since the financial crisis as investors hope for higher interest rates and more profits from lending, as well as cutbacks in regulations that could boost bank profits.

The ICE U.S. Dollar Index, which measures the dollar against six other currencies, rose to its highest level since April of 2003. The dollar is rising in part because investors think the Federal Reserve will raise interest rates at a faster pace in response to inflation stemming from the increased spending that President-elect Donald Trump has proposed.

A stronger dollar hurts U.S. companies that do a lot of business overseas because it makes their products more expensive, and it affects their earnings when they are translated from other currencies back into U.S. dollars. However it makes imported goods cheaper for consumers in the U.S.

The dollar slipped 109.15 Japanese yen from 109.32 yen late Tuesday. The euro slid to $1.0681 from $1.0718.

Technology companies moved upward as they continued a rally from a day earlier. Graphics processor maker Nvidia rose $5.44, or 6.3 percent, to $91.63 after it announced a collaboration with Microsoft, and Apple picked up $2.93, or 2.7 percent, to $110.04.

Tech stocks had weakened since the election. Trump's policies might affect their sales in China and other key markets, and a big surge this summer had brought some technology stocks to all-time highs.

Retailer Target raised its profit forecast and its sales projections for the third quarter with the holiday season approaching. That came as the retailer gave a strong third-quarter report, as it put more emphasis on low prices after it stumbled in the second quarter. The stock gained $4.59, or 6.4 percent, to $76.03.

TJX, the parent of TJ Maxx and Marshalls, reported a bigger profit and better sales than investors expected and its stock gained $2.90, or 3.9 percent, to $76.39. That helped lead consumer stocks higher.

Home improvement retailer Lowe's fell after it said traffic in stores was low during the third quarter, and Lowe's reported a smaller third-quarter profit because of several big charges. Lowe's lost $2.03, or 2.9 percent, to $67.02.

Oil prices slipped. Benchmark U.S. crude lost 24 cents to $45.57 a barrel in New York. Brent crude, which is used to price international oils, fell 32 cents to $46.63 a barrel in London. The price of U.S. crude oil soared Tuesday as investors hoped the oil-producing OPEC countries will agree to a production cut that would boost prices.

Energy companies fell. They had rallied on Tuesday along with the price of crude oil.

Bond prices rose. The yield on the 10-year Treasury note slipped to 2.21 percent from 2.22 percent. Bond yields, which are used to set interest rates on many kinds of loans including mortgages, have risen to their highest levels since the beginning of the year as investors expect inflation to rise. Bond investors hate inflation because it erodes the value of the fixed interest payments that bonds pay.

In other energy trading, wholesale gasoline fell 2 cents to $1.32 a gallon. Heating oil fell 1 cent to $1.44 a gallon. Natural gas rose 6 cents, or 2 percent, to $2.76 per 1,000 cubic feet.

The price of gold slipped 60 cents to $1,223.90 an ounce. Silver fell 12 cents to $16.93 an ounce. Copper fell 4 cents to $2.47 a pound.

In Germany the DAX lost 0.7 percent while France's CAC 40 was off 0.8 percent. Britain's FTSE 100 slid 0.6 percent. Asian markets finished mostly higher. Japan's Nikkei jumped 1.1 percent and the Kospi in Seoul, South Korea gained 0.6 percent. Hong Kong's Hang Seng index closed 0.2 percent lower.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	35.68	points or ▲	0.19%	on	Thursday, November 17, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,903.82	▲	35.68	▲	0.19%		
	Nasdaq____	5,333.97	▲	39.39	▲	0.74%		
	S&P_500___	2,187.12	▲	10.18	▲	0.47%		
	30_Yr_Bond____	2.99	▲	0.06	▲	2.05%		

NYSE Volume	 3,829,762,250 	 	 	 	 	  		 
Nasdaq Volume	 1,977,599,000 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,794.71	▲	44.99	▲	0.67%		
	DAX_____	10,685.54	▲	21.67	▲	0.20%		
	CAC_40__	4,527.77	▲	26.63	▲	0.59%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,408.90	▲	9.30	▲	0.17%		
	Shanghai_Comp	3,208.45	▲	3.40	▲	0.11%		
	Taiwan_Weight	8,995.26	▲	33.04	▲	0.37%		
	Nikkei_225___	17,862.63	▲	0.42	▲	0.00%		
	Hang_Seng.__	22,262.88	▼	-17.65	▼	-0.08%		
	Strait_Times.__	2,813.48	▲	19.49	▲	0.70%		
	NZX_50_Index_	6,814.66	▼	-9.92	▼	-0.15%		

http://abcnews.go.com/Business/wireStory/us-stocks-gain-rising-oil-price-helps-energy-43604774

*Bank Stocks Surge Again, Leading Broader Market Higher*
By marley jay, ap markets writer

 U.S. stocks rose Thursday as banks resumed their steep upward climb and retailers moved higher. Federal Reserve Chair Janet Yellen emphasized that the Fed plans to raise interest rates, which will help banks make more money from lending.

Stocks started the day with small gains and moved higher following Yellen's testimony to Congress. Banks once again marched higher as investors cheered the latest indication that interest rates will rise from their current ultra-low levels. Retailers also rose after strong earnings from Best Buy, while food and household goods makers struggled after weak results from Wal-Mart and J.M. Smucker.

Almost all of the S&P 500's gains since the presidential election have gone to financial stocks. They lagged the market for much of this year, but they're now trading at their highest levels since May 2008, months before the financial crisis peaked.

Investors hope banks will benefit from higher interest rates, faster economic growth and lighter regulation under President-elect Trump.

"I wouldn't expect we're going to see the entire repeal of Dodd-Frank, but we could certainly see some changes that are positive for the financial services sector," said Kate Warne, an investment strategist for Edward Jones.

The Dow Jones industrial average added 35.68 points, or 0.2 percent, to 18,903.82. The Standard & Poor's 500 index rose 10.18 points, or 0.5 percent, to 2,187.12. The Nasdaq composite added 39.39 points, or 0.7 percent, to 5,333.97. The Dow has set several records since the election, while the S&P 500 and Nasdaq are close to records they set a few months ago.

Fed Chair Yellen told Congress that the economy is improving and added that that if the Fed keeps waiting now and raises rates too quickly later, that increases the risk of a recession.

Investors already expected the Fed to raise interest rates when it meets in mid-December, and they felt Yellen's comments confirmed that higher rates are coming.

Bond prices slipped. The yield on the 10-year U.S. Treasury note rose to 2.29 percent from 2.22 percent. Bond yields rise when investors expect higher interest rates and inflation.

Bank of America gained 33 cents, or 1.7 percent, to $20.08 and PNC Financial Services climbed $3.09, or 2.9 percent, to $110.60.

Greater sales of mobile phones and increased online sales helped electronics retailer Best Buy post a strong third quarter, and the company forecast a larger fourth-quarter profit than analysts had expected. Its stock climbed $5.54, or 13.7 percent, to $45.99 and hit a six-year high.

Other retailers also rose. Home Depot recovered some recent losses and added $3.60, or 2.9 percent, to $128.93. Amazon also gained ground as Wal-Mart struggled. It picked up $9.91, or 1.3 percent, to $756.40.

"Instead of spending in traditional ways, consumers have decided to spend their additional dollars in technology and online shopping," Warne said.

Wal-Mart announced disappointing sales in its third quarter. The retailer's profit also fell as it invested more money in its stores and its online business. The stock lost $2.20, or 3.1 percent, to $69.19 Warehouse club operator Costco and grocery store chain Kroger both took small losses as well.

Jam and jellies maker J.M. Smucker disclosed weak sales and its stock shed $5.10, or 3.9 percent, to $124.85. Tyson Foods fell $2.32, or 3.4 percent, to $66.70.

Cisco Systems fell after its earnings forecast disappointed Wall Street. The seller of routers, switches, software and services forecast a smaller-than-expected profit for its second fiscal quarter. That canceled out a strong first-quarter report. The stock gave up $1.52, or 4.8 percent, to $30.05.

Oil refining company Tesoro will buy Western Refining for $37.30 a share in stock, a deal the companies valued at $4.1 billion. The stock closed at $30.50 on Wednesday, and it jumped $7.05, or 23.1 percent, to $37.55. Tesoro shares rose 82 cents, or 1 percent, to $86.56.

Higher interest rates also mean a stronger dollar. The dollar climbed to 109.89 yen from 109.15 yen. The euro fell to $1.0626 from $1.0681. The ICE U.S. dollar index continued to rise. It's at its highest level in 13 years.

Oil prices gave up a small gain and turned lower. Benchmark U.S. crude slid 15 cents to $45.42 a barrel in New York. Brent crude, which is used to price international oils, slipped 14 cents to $46.49 a barrel in London. Energy companies lagged the market after big gains earlier this week.

In other energy trading, wholesale gasoline rose 2 cents to $1.34 a gallon. Heating oil rose 1 cent to $1.45 a gallon. Natural gas fell 6 cents, or 2.2 percent, to $2.70 per 1,000 cubic feet.

Gold fell $7 to $1,216.90 an ounce and silver lost 16 cents to $16.77 an ounce. Copper rose 2 cents to $2.49 a pound.

The FTSE 100 index of leading British shares added 0.7 percent and the CAC 40 in France rose 0.6 percent. Germany's DAX gained 0.2 percent. Japan's Nikkei 225 barely moved and the Hang Seng index in Hong Kong eased 0.1 percent. The Kospi in South Korea inched higher.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-35.89	points or ▼	-0.19%	on	Friday, November 18, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,867.93	▼	-35.89	▼	-0.19%		
	Nasdaq____	5,321.51	▼	-12.46	▼	-0.23%		
	S&P_500___	2,181.90	▼	-5.22	▼	-0.24%		
	30_Yr_Bond____	3.02	▲	0.03	▲	1.00%		

NYSE Volume	 3,525,727,250 	 	 	 	 	  		 
Nasdaq Volume	 1,746,010,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,775.77	▼	-18.94	▼	-0.28%		
	DAX_____	10,664.56	▼	-20.98	▼	-0.20%		
	CAC_40__	4,504.35	▼	-23.42	▼	-0.52%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,427.50	▲	18.60	▲	0.34%		
	Shanghai_Comp	3,192.86	▼	-15.60	▼	-0.49%		
	Taiwan_Weight	9,008.79	▲	13.53	▲	0.15%		
	Nikkei_225___	17,967.41	▲	104.78	▲	0.59%		
	Hang_Seng.__	22,344.21	▲	81.33	▲	0.37%		
	Strait_Times.__	2,838.65	▲	25.17	▲	0.89%		
	NZX_50_Index_	6,857.84	▲	43.18	▲	0.63%		

http://finance.yahoo.com/news/us-stocks-hardly-move-energy-145917682.html

*Drugmaker losses pull stocks lower; small-cap surge goes on*
[Associated Press]
Marley Jay, AP Markets Writer

NEW YORK (AP) -- Major U.S. stock indexes slipped Friday as drug companies dragged the market lower. Small-company stocks bucked the downward trend and continued to climb, and bond yields rose to their highest level in a year.

Drugmakers like Merck and biotech company Amgen took some of the biggest losses Friday. Weak results from Gap and Abercrombie & Fitch hurt retailers as investors kept a close eye on the upcoming holiday season.

Small companies including regional banks continued to make large gains. Those stocks have risen sharply since the presidential election last week and are now at record highs.

"Some of the proposals that (President-elect Donald) Trump has promoted, specifically deregulation and also some of his trade proposals, are better for small companies than potentially they are for large ones," said Katie Nixon, chief investment officer for Northern Trust.

The Dow Jones industrial average slid 35.89 points, or 0.2 percent, to 18,867.93. The Standard & Poor's 500 index lost 5.22 points, or 0.2 percent, to 2,181.90. The Nasdaq composite touched a record high early on, but turned lower and gave up 12.46 points, or 0.2 percent, to 5,321.51.

That's not a big loss, but the major indexes hadn't fallen that much since before the presidential election. Still, the S&P 500 and Nasdaq finished substantially higher this week after their big gains the week before. But indexes of smaller companies, like the Russell 2000 and the S&P 600, did better. They are on 11-day winning streaks and have hit all-time highs.

Among small-company stocks, mortgage lending service company LendingTree added $6.80, or 7.3 percent, to $100 and coal miner Cloud Peak Energy rose 79 cents, or 15.8 percent, to $5.79.

Losses for drug companies weighed down health care stocks. Botox maker Allergan retreated $8.20, or 4.1 percent, to $191.78 and biotech giant Amgen fell $2.13, or 1.4 percent, to $145.23. Hepatitis C drugmaker Gilead Sciences shed 96 cents, or 1.3 percent, to $74.62.

Drug company stocks are coming off their biggest weekly gain in two years. The stocks had been falling in the months leading up to the election because investors worried that under a Hillary Clinton presidency, the federal government would take steps to rein in drug prices. Those kinds of steps are less likely under a Trump presidency and a Republican-controlled Congress.

The dollar continued to climb. It's near one-year highs against the euro and six-month highs against the yen. The dollar rose to 110.63 yen from 109.89 yen. The euro fell to $1.0599 from $1.0626.

The dollar hasn't been this strong since early 2003. Nixon of Northern Trust said that's affecting big multinational companies because it can hurt their sales outside the U.S., but it's less of a problem for smaller, domestically-oriented companies.

Investors continued to sell U.S. government bonds at a rapid clip, and bond prices wobbled and turned lower. The yield on the 10-year Treasury note rose to 2.34 percent from 2.30 percent. Bond prices have fallen hard since the election and yields are now at their highest in a year.

Teen clothing company Abercrombie & Fitch plunged $2.33, or 13.8 percent, to $14.60 after it reported weak sales and a smaller profit than analysts had expected. Gap's said fewer people visited its stores heading into the holiday season. Its stock gave up $5.10, or 16.6 percent, to $25.61. Sporting goods Hibbett Sports retailer cut its annual forecasts after a weak third-quarter report. It dropped $4.90, or 10.8 percent, to $40.40.

Shoppers are not buying as many clothes and moving toward discount chains. That trend continued as discount retailer Ross Stores rose $2.47, or 3.8 percent, to $68 after it posted a better-than-expected profit and sales.

Companies that sell common household products are also moving lower. Procter & Gamble gave up $1.07, or 1.3 percent, to $82 and drugstore operator Walgreens Boots Alliance slumped 72 cents to $83.27. Those companies have fallen since the election as investors buy companies that could benefit more from faster economic growth.

Benchmark U.S. crude rose 27 cents to close at $45.69 a barrel in New York, while Brent crude, which is used to price international oils, added 37 cents to $46.86 a barrel in London. Energy companies traded higher. Chevron rose $1.08, or 1 percent, to $109.20 and ConocoPhillips jumped $1.15, or 2.6 percent, to $44.76.

Gold fell $8.20 to $1,208.70 an ounce. Silver lost 15 cents to $16.62 an ounce. Copper dipped 2 cents to $2.47 a pound.

In other energy trading, wholesale gasoline stayed at $1.34 a gallon. Heating oil picked up 1 cent to $1.46 a gallon. Natural gas climbed 14 cents, or 5.2 percent, to $2.84 per 1,000 cubic feet.

France's CAC 40 fell 0.5 percent and the FTSE 100 in Britain dipped 0.3 percent. The German DAX lost 0.2 percent. Japan's benchmark Nikkei 225 index added 0.6 percent as the yen hit a six-month low, helping shares of the country's big exporters. South Korea's Kospi shed 0.3 percent and Hong Kong's Hang Seng rose 0.4 percent.

5908


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	88.76	points or ▲	0.47%	on	Monday, November 21, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	18,956.69	▲	88.76	▲	0.47%		
	Nasdaq____	5,368.86	▲	47.35	▲	0.89%		
	S&P_500___	2,198.18	▲	16.28	▲	0.75%		
	30_Yr_Bond____	3.01	▼	0.00	▼	-0.10%		

NYSE Volume	 3,564,778,750 	 	 	 	 	  		 
Nasdaq Volume	 1,670,383,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,777.96	▲	2.19	▲	0.03%		
	DAX_____	10,685.13	▲	20.57	▲	0.19%		
	CAC_40__	4,529.58	▲	25.23	▲	0.56%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,419.30	▼	-8.20	▼	-0.15%		
	Shanghai_Comp	3,218.15	▲	25.29	▲	0.79%		
	Taiwan_Weight	9,041.11	▲	32.32	▲	0.36%		
	Nikkei_225___	18,106.02	▲	138.61	▲	0.77%		
	Hang_Seng.__	22,357.78	▲	13.57	▲	0.06%		
	Strait_Times.__	2,816.67	▼	-21.98	▼	-0.77%		
	NZX_50_Index_	6,848.95	▼	-8.89	▼	-0.13%		

http://finance.yahoo.com/news/energ...cks-higher-oil-prices-150713996--finance.html

*US stock indexes bust records as oil prices jump*
[Associated Press]
MARLEY JAY

NEW YORK (AP) ”” A jump in oil prices helped pull U.S. stocks to record highs Monday as investors continue to hope for a cut in oil production that could help prices go higher. The start of the week once again brought several corporate deals, with companies in the energy and technology industries making big moves.

The price of oil rose about 4 percent as investors hope the countries in OPEC, which collectively produce more than a third of the world's oil, will soon finalize a deal that would lower oil production and help support prices. The gains were widespread, with technology, basic materials and utility companies all moving higher.

Stocks reached all-time highs over the summer and have built on those gains since the election. On Monday the Dow Jones industrial average, Standard & Poor's 500, and Nasdaq composite all set records. So did the Russell 2000, an index of smaller companies, and the S&P's small- and mid-size company indexes. The last time all those indexes set records on the same day was Dec. 31, 1999, according to Ryan Detrick, senior market strategist for LPL Financial.

The Dow rose 88.76 points, or 0.5 percent, to 18,956.69. The S&P 500 climbed 16.28 points, or 0.7 percent, to 2,198.18. The Nasdaq composite jumped 47.35 points, or 0.9 percent, to 5,368.86.

Benchmark U.S. crude oil rose to its highest price this month. It gained $1.80, or 3.9 percent, to $47.49 a barrel while Brent crude, the international standard, rose $2.04, or 4.4 percent, to $48.90 a barrel in London. That led to gains for energy companies. Marathon Oil added 86 cents, or 5.5 percent, to $16.48 and Exxon Mobil added $1.21, or 1.4 percent, to $86.49.

OPEC representatives will meet in Vienna on Nov. 30. They have agreed to preliminary terms of a deal that will trim oil production, but the details remain to be determined. Quincy Krosby, market strategist at Prudential Financial, said investors are encouraged by the effort, but she doesn't think a deal, if one happens, will have much effect on oil prices.

"There's nothing to suggest the agreement's going to hold," she said. "When all is said and done, supply and demand will ultimately dictate the price."

Meat producer Tyson Foods tumbled $9.76, or 14.5 percent, to $57.60. The company's fourth-quarter profit and sales fell far short of Wall Street's forecasts as Tyson's chicken business struggled. The company also said CEO Donnie Smith will step down at the end of this year, and company president Tom Hayes will replace him.

Competitor Hormel Foods lost 64 cents, or 1.8 percent, to $34.94.

Small-company stocks have surged since the election. The Russell 2000 has risen for 12 days in a row.

Technology stocks also made substantial gains. They have lagged the market since the election after very strong performance over the summer. Facebook rose $4.75, or 4.1 percent, to $121.77 while online payments company PayPal advanced 55 cents, or 1.4 percent, to $40.63 and Apple picked up $1.69, or 1.5 percent, to $111.75.

Identity theft and fraud protection company LifeLock jumped $3.06, or 14.7 percent, to $23.81 after security software maker Symantec agreed to buy the company for $2.3 billion. The deal values LifeLock at $24 a share. Symantec picked up 77 cents, or 3.2 percent, to $24.52, a sign investors approve of the purchase.

Sunoco Logistics agreed to buy Energy Transfer Partners in an all-stock deal worth about $20 billion. Both companies are involved in the Dakota Access oil pipeline, a project that's been the subject of protests for months. A portion of that pipeline would pump oil under Lake Oahe, a reservoir in North Dakota, and the local Standing Rock Sioux tribe says it fears a leak could contaminate the drinking water on its reservation. The tribe also says the pipeline could disturb sacred sites.

Both companies traded lower after the deal was announced, as they won't distribute as much cash to shareholders after combining. Energy Transfer Partners lost $2.85, or 7.2 percent, to $36.52 and Sunoco Logistics skidded $1.72, or 6.6 percent, to $24.47. Energy Transfer Equity, the general partner of Energy Transfer Partners, picked up 63 cents, or 3.6 percent, to $17.92.

Gold inched up $1.10 to $1,209.80 an ounce. Silver lost 10 cents to $16.52 an ounce. Copper climbed 5 cents, or 1.9 percent, to $2.52 a pound.

The dollar slipped after trading at 13-year highs last week. The euro rose to $1.0612 from $1.0599. The dollar rose to 111.07 yen from 110.63 yen.

Bond prices rose. The yield on the 10-year Treasury note slipped to 2.32 percent from 2.35 percent. That helped utility stocks. They stocks tend to do better when bond yields fall because investors seeking income buy them for their big dividends.

In other energy trading, wholesale gasoline gained 6 cents, or 4.3 percent, to $1.40 a gallon. Heating oil rose 7 cents, or 4.6 percent, to $1.52 per gallon. Natural gas rose 11 cents, or 4 percent, to $2.95 per 1,000 cubic feet.

France's CAC-40 index rose 0.6 percent while the DAX of Germany picked up 0.2 percent. The FTSE 100 index in Britain rose less than 0.1 percent. The Nikkei 225 of Japan rose 0.8 percent. South Korea's Kospi dipped 0.4 percent and the Hang Seng in Hong Kong edged up less than 0.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

* U.S. trading will be closed Thursday for Thanksgiving and markets will close early on Friday*.

 *The NYSE DOW closed  	HIGHER ▲	67.18	points or ▲	0.35%	on	Tuesday, November 22, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,023.87	▲	67.18	▲	0.35%		
	Nasdaq____	5,386.35	▲	17.49	▲	0.33%		
	S&P_500___	2,202.94	▲	4.76	▲	0.22%		
	30_Yr_Bond____	3.01	▼	0.00	▼	-0.13%		

NYSE Volume	 3,920,212,500 	 	 	 	 	  		 
Nasdaq Volume	 1,836,238,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,819.72	▲	41.76	▲	0.62%		
	DAX_____	10,713.85	▲	28.72	▲	0.27%		
	CAC_40__	4,548.35	▲	18.77	▲	0.41%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,480.60	▲	61.30	▲	1.13%		
	Shanghai_Comp	3,248.35	▲	30.20	▲	0.94%		
	Taiwan_Weight	9,133.39	▲	92.28	▲	1.02%		
	Nikkei_225___	18,162.94	▲	56.92	▲	0.31%		
	Hang_Seng.__	22,678.07	▲	320.29	▲	1.43%		
	Strait_Times.__	2,822.20	▲	5.53	▲	0.20%		
	NZX_50_Index_	6,816.39	▼	-32.56	▼	-0.48%		

http://finance.yahoo.com/news/consumer-companies-lead-us-stocks-145730773.html

*Dow surpasses 19,000 as a record-setting drive continues*
[Associated Press]
Marley Jay, AP Markets Writer

NEW YORK (AP) -- The Dow Jones industrial average surpassed 19,000 for the first time Tuesday as a post-election rally drove indexes further into record territory. Discount store chains made large gains, but health care companies tumbled.

Stocks opened solidly higher after setting records on Monday. They gave up some of their gains around midday but reached new highs late in the afternoon. Health care stocks slumped after weak results from medical device company Medtronic. Retailers soared after strong earnings from Dollar Tree and Burlington Stores.

"The consumer in general is far more budget-conscious than they were in previous generations," Ken Perkins, president of research firm Retail Metrics, said of discount chains.

The Dow picked up 67.18 points, or 0.4 percent, to 19,023.87. The Standard & Poor's 500 index added 4.76 points, or 0.2 percent, to 2,202.94. The Nasdaq composite gained 17.49 points, or 0.3 percent, to 5,386.35.

The Russell 2000 index, which tracks smaller companies, continued to set records as it traded higher for the 13th day in a row. It jumped 0.9 percent.

The Dow has closed at a record high six times in the two weeks since the presidential election, but trading volume has fallen in recent days. U.S. trading will be closed Thursday for Thanksgiving and markets will close early on Friday.

Shoppers continued to flock to discount stores. Dollar Tree raised its profit and sales forecasts after the chain reported solid results in the third quarter. Burlington Stores also raised its outlook after it posted a larger profit than analysts expected. Dollar Tree jumped $6.69, or 8.2 percent, to $88.68 and Burlington Stores added $11.86, or 16 percent, to $86.04.

Other retailers like Home Depot, TJX and Signet Jewelers also rose as consumer stocks reached all-time highs. Perkins, of Retail Metrics, said chains like Dollar Tree were able to win over new customers after the Great Recession, and low-cost clothing companies like TJX, the parent of TJ Maxx, have also performed well since that time.

Health care stocks, which are still trading lower than they were at the start of this year, took hefty losses after weak results from Medtronic, one of the world's largest medical device companies.

Matt Miksic, a medical device analyst for UBS, said some investors worried that Medtronic's results mean a lot of drug and medical device companies will face slower growth. Miksic said Medtronic reported weak sales "across pretty much every one of their categories in the U.S."

The company also cut its profit guidance. It sank $6.98, or 8.7 percent, to $73.60. Health care products giant Johnson & Johnson slid $2.26, or 2 percent, to $112.74 and Abbott Laboratories, which makes infant formula, drugs and medical devices, gave up $1.66, or 4.2 percent, to $38.10.

Medical supplier Patterson Cos. plunged, touching a three-year low, after it said its dental business struggled in the second quarter and its animal health business was hurt by weak prices for brand-name drugs. Patterson cuts its profit forecast and its shares dropped $7.95, or 16.7 percent, to $39.56.

Campbell Soup's profit in its fiscal first quarter was better than expected thanks to lower expenses and better sales of snacks like Pepperidge Farm. Hormel, the maker of Spam, reported better results from its refrigerated foods business and its Jennie-O turkey unit. Hormel also gave solid guidance for the current fiscal year. Campbell Soup gained $1.98, or 3.6 percent, to $57.02 and Hormel rose 92 cents, or 2.6 percent, to $35.86.

Dr. Pepper Snapple Group said it will buy fruit drink maker Bai Brands for $1.7 billion. Bai Brands markets its drinks as having fewer calories than other brands and doesn't use artificial sweeteners. Dr. Pepper Snapple stock picked up $2.25, or 2.6 percent, to $87.50.

Industrial companies, including makers of aircraft and engines and other equipment, continued to rise. Companies like Boeing, Lockheed Martin and Northrop Grumman were trading around record highs before the election and they have done better than the broader market since then. Boeing climbed $2.50, or 1.7 percent, to $149.52 Tuesday.

Oil prices wobbled and energy companies fell. Benchmark U.S. crude lost 21 cents to $48.03 a barrel in New York. Brent crude, the international standard, rose 22 cents to $49.12 a barrel in London. The price of oil rose about 4 percent Monday.

Investors continued to sell short-term bonds, which sent their prices lower. The yield on the two-year Treasury note rose to 1.09 percent, its highest in six years. Longer-term bond prices held steady. The yield on the 10-year Treasury note remained at 2.31 percent.

The dollar, which is trading around 13-year highs, was little changed. It rose to 111.14 yen from 111.07 yen. The euro inched up to $1.0624 from $1.0612.

In other energy trading, wholesale gasoline picked up 1 cent to $1.41 a gallon. Heating oil remained at $1.53 a gallon. Natural gas rose 3 cents to $2.98 per 1,000 cubic feet.

Gold rose $1.40 to $1,211.20 an ounce. Silver gained 11 cents to $16.63 an ounce. Copper added 3 cents, or 1.2 percent, to $2.54 a pound.

Britain's FTSE 100 rose 0.6 percent. France's CAC 40 added 0.4 percent while the DAX in Germany gained 0.3 percent. Japan's Nikkei 225 dipped after a powerful earthquake in northern Japan, but the index finished 0.3 percent higher. The earthquake set off a small tsunami, but it appeared to cause only minor damage and injuries. South Korea's Kospi rose 0.9 percent and the Hang Seng in Hong Kong climbed 1.4 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

*U.S. trading will be closed Thursday for Thanksgiving and markets will close early on Friday.	* 

 *The NYSE DOW closed  	HIGHER ▲	59.31	points or ▲	0.31%	on	Wednesday, November 23, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,083.18	▲	59.31	▲	0.31%		
	Nasdaq____	5,380.68	▼	-5.67	▼	-0.11%		
	S&P_500___	2,204.72	▲	1.78	▲	0.08%		
	30_Yr_Bond____	3.02	▲	0.01	▲	0.47%		

NYSE Volume	 3,380,953,500 	 	 	 	 	  		 
Nasdaq Volume	 1,583,223,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,817.71	▼	-2.01	▼	-0.03%		
	DAX_____	10,662.44	▼	-51.41	▼	-0.48%		
	CAC_40__	4,529.21	▼	-19.14	▼	-0.42%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,549.90	▲	69.30	▲	1.26%		
	Shanghai_Comp	3,241.14	▼	-7.22	▼	-0.22%		
	Taiwan_Weight	9,178.23	▲	44.84	▲	0.49%		
	Nikkei_225___	18,162.94	▲	56.92	▲	0.31%	*CLOSED FOR HOLIDAY* 
	Hang_Seng.__	22,676.69	▼	-1.38	▼	-0.01%		
	Strait_Times.__	2,839.69	▲	17.49	▲	0.62%		
	NZX_50_Index_	6,851.45	▲	35.06	▲	0.51%		

http://finance.yahoo.com/news/us-stocks-recede-record-highs-151148233.html

*Equipment companies power Dow and S&P 500 to new records*
[Associated Press]
MARLEY JAY

NEW YORK (AP) — The Dow Jones industrial average and Standard & Poor's 500 indexes again set records Wednesday in a quiet day of pre-holiday trading. Machinery and equipment makers climbed after strong results from Deere, but technology companies fell.

Stocks opened mostly lower, but they slowly recovered. Industrial companies like Caterpillar and United Technologies continued to rise. Banks also rose as bond yields climbed. Companies that make hardware and network devices skidded after printer and PC maker HP gave a weak profit forecast.

"It sends kind of a chill through the sector," said Sameer Samana, a strategist for the Wells Fargo Investment Institute.

The Dow rose 59.31 points, or 0.3 percent, to 19,083.18. The Standard & Poor's 500 index edged up 1.78 points, or 0.1 percent, to 2,204.72. The Nasdaq composite lost 5.67 points, or 0.1 percent, to 5,380.68. Trading was relatively light ahead of the Thanksgiving holiday. U.S. markets will be closed Thursday and will close early on Friday.

The Russell 2000 index of small-company stocks climbed for the 14th day in a row, its longest winning streak since early 1996. It has closed at a record high for nine consecutive days. It's up 16 percent over that time and has now climbed 18 percent this year, more than twice as much as the S&P 500, which tracks large companies.

Deere, an agricultural and construction equipment maker, reported a bigger profit than analysts expected even though its business has been hurt by a slowdown construction and low commodity prices, which have caused farmers to cut back on purchases of equipment. The stock advanced $10.16, or 11 percent, to $102.17, its highest-ever closing price.

Already trading at all-time highs, industrial companies continued to rise after Deere's report. Construction and mining equipment maker Caterpillar gained $2.56, or 2.7 percent, to $96.18. United Technologies, which makes elevators, jet engines and other things, added $1.17, or 1.1 percent, to $108.11. Both companies are Dow components, which contributed to the Dow's big gain.

Printer and PC maker HP lost ground after it issued a profit forecast that disappointed investors. Its stock gave up $1.08, or 6.8 percent, to $14.87. Tech stocks did very well this summer, but they have lagged the market since the presidential election. Samana said investors are concerned that President-elect Donald Trump's immigration policies will hurt their ability to hire workers.

"You may see foreign competitors be able to be more attractive places for talent if there were to be greater restrictions over who could and could not come over," he said.

Bond prices dropped, sending yields higher. The yield on the 2-year Treasury note rose to 1.13 percent from 1.09 percent. The yield on that note is at its highest in more than six years. The yield on the 10-year Treasury note rose to 2.36 percent from 2.31 percent, its highest in almost a year and a half.

Higher bond yields are linked to higher interest rates, so the rising yields helped bank stocks turn higher. Capital One rose $2.03, or 2.5 percent, to $84.62 and Sterling Bancorp jumped 45 cents, or 2 percent, to $23.50. The S&P 500 financial index is up 12 percent since the election while the S&P 500 itself is up 3 percent.

As bond yields rose, investors sold shares of real estate investment trusts, utilities, and companies that sell household goods. Those companies are sometimes compared to bonds because they pay large dividends. When bonds yields rise, those stocks become less appealing to investors seeking income.

Eli Lilly dropped after saying a potential treatment for Alzheimer's disease failed in a clinical trial, as it did not slow down patients' mental decline compared to a placebo. Lilly fell $7.99, or 10.5 percent, to $68, its lowest value in two years. Biogen, which is also involved in studying a treatment for the disease, sank $12.18, or 3.8 percent, to $305.93.

The price of gold reached its lowest level since February as it tumbled $21.90, or 1.8 percent, to $1,189.30 an ounce. Silver fell 24 cents, or 1.4 percent, to $16.39 an ounce. But copper picked up 6 cents, or 2.5 percent, to $2.61 a pound.

Since the election gold prices have skidded and copper prices have surged. Copper's price is linked to economic expansion because of its use in construction and other areas, and it's at its highest price in more than a year. It jumped in late October and November, when the broader market was falling as investors wondered about the outcome of the presidential election, and at one point it closed higher for 14 days in a row.

The metal's price kept rising after the election as investors hope demand will increase under a potential infrastructure stimulus from President-elect Donald Trump and a Republican-controlled Congress.

The dollar rose to 112.60 yen from 111.14 yen. The euro fell to $1.0549 from $1.0624. The U.S. currency hasn't been this strong since March 2003. That's good news for U.S. companies that import goods, but it hurts businesses that get a lot of revenue from overseas.

Benchmark U.S. crude slipped 7 cents to $47.96 per barrel in New York. Brent crude, used to price international oils, lost 17 cents to $48.95 a barrel in London.

In other energy trading, wholesale gasoline picked up 1 cent to $1.42 a gallon. Heating oil fell 1 cent to $1.52 per gallon. Natural gas rose 4 cents to $3.03 per 1,000 cubic feet.

Germany's DAX index shed 0.5 percent and the CAC 40 in France dropped 0.4 percent. Britain's FTSE 100 was slightly lower. The Kospi in South Korea advanced 0.2 percent and Hong Kong's Hang Seng ended unchanged. Japanese markets were closed for a holiday.


----------



## bigdog

Source: http://finance.yahoo.com 

*U.S. trading will be closed Thursday for Thanksgiving and markets will close early on Friday.*

 *The NYSE DOW closed  	HIGHER ▲	59.31	points or ▲	0.31%	on	Wednesday, November 23, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,083.18	▲	59.31	▲	0.31%	*CLOSED FOR THANKSGIVING HOLIDAY* 
	Nasdaq____	5,380.68	▼	-5.67	▼	-0.11%	CLOSED FOR THANKSGIVING HOLIDAY[/B]	 
	S&P_500___	2,204.72	▲	1.78	▲	0.08%	CLOSED FOR THANKSGIVING HOLIDAY[/B]	
	30_Yr_Bond____	3.02	▲	0.01	▲	0.47%	CLOSED FOR THANKSGIVING HOLIDAY[/B]	

NYSE Volume	 3,404,044,500 	 	 	 	 	  		 
Nasdaq Volume	 1,643,449,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,829.20	▲	11.49	▲	0.17%		
	DAX_____	10,689.26	▲	26.82	▲	0.25%		
	CAC_40__	4,542.56	▲	13.35	▲	0.29%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,549.00	▼	-0.90	▼	-0.02%		
	Shanghai_Comp	3,241.74	▲	0.60	▲	0.02%		
	Taiwan_Weight	9,152.11	▼	-26.12	▼	-0.28%		
	Nikkei_225___	18,333.41	▲	170.47	▲	0.94%		
	Hang_Seng.__	22,608.49	▼	-68.20	▼	-0.30%		
	Strait_Times.__	2,843.72	▲	4.03	▲	0.14%		
	NZX_50_Index_	6,883.25	▲	31.80	▲	0.46%		

http://abcnews.go.com/Business/wireStory/global-markets-mixed-quiet-trading-us-holiday-43756619

*Global Markets Steady in Quiet Trading on US Holiday*
    By eileen ng, associated press

Global stock markets were steady Thursday as the Thanksgiving holiday in the U.S. kept trading levels subdued.

KEEPING SCORE: Britain's FTSE 100 edged up 0.2 percent to 6,829.20 and France's CAC 40 rose 0.3 percent to 4,542.56. Germany's DAX also gained 0.3 percent to 10,689.26 after a survey showed businesses in the country remained optimistic in November despite concerns over a slowdown in global commerce and what the impact of Donald Trump's election in the U.S. might mean for trade.

WALL STREET: The Dow Jones industrial average and Standard & Poor's 500 indexes set records this week in pre-holiday trading. Machinery and equipment makers climbed but technology companies fell. U.S. markets were closed Thursday and will close early on Friday.

ANALYST'S TAKE: "Volumes have been poor ... and that's hardly a surprise given the upcoming Thanksgiving holiday but the juggernaut that is the bull market continues, albeit slowly," Chris Weston of IG said in a report. He said the Russell 2000 index of small-company stocks, where the real momentum is, gained for the 14th day in a row. Weston said the U.S. Federal Reserve is expected to go ahead with an interest rate hike in December, especially after the release of a slew of strong economic data. Mizuho Bank in Singapore said the strong dollar continued to be the dominant theme, putting most currencies under selling pressure.

ASIA'S DAY: Japan's Nikkei rose 0.9 percent to 18,333.41. Sydney's S&P-ASX 200 and Shanghai Composite Index were flat at 5,485.10 and 3,241.74 respectively. Seoul's Kospi lost 0.8 percent to 1,971.26 and Hong Kong's Hang Seng shed 0.3 percent to 22,608.49. Benchmarks in New Zealand and Singapore rose but Taiwan, India and Indonesia retreated.

CURRENCY: The dollar rose to 113.34 yen from Wednesday's 112.60 yen, while the euro strengthened to $1.0555 from $1.0549.

ENERGY: Benchmark U.S. crude rose 1 cent to $47.97 per barrel in electronic trading on the New York Mercantile Exchange. The contract slipped 7 cents on Wednesday. Brent crude, used to price international oils, shed 2 cents to $48.93 in London. The contract lost 17 cents in the previous session.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	68.96	points or ▲	0.36%	on	Friday, November 25, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,152.14	▲	68.96	▲	0.36%		
	Nasdaq____	5,398.92	▲	18.24	▲	0.34%		
	S&P_500___	2,213.35	▲	8.63	▲	0.39%		
	30_Yr_Bond____	3.02	▲	0.00	▼	-0.03%		

NYSE Volume	 1,574,046,380 	 	 	 	 	  		 
Nasdaq Volume	 742,639,060 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,840.75	▲	11.55	▲	0.17%		
	DAX_____	10,699.27	▲	10.01	▲	0.09%		
	CAC_40__	4,550.27	▲	7.71	▲	0.17%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,570.50	▲	21.50	▲	0.39%		
	Shanghai_Comp	3,261.94	▲	20.20	▲	0.62%		
	Taiwan_Weight	9,159.07	▲	6.96	▲	0.08%		
	Nikkei_225___	18,381.22	▲	47.81	▲	0.26%		
	Hang_Seng.__	22,723.45	▲	114.96	▲	0.51%		
	Strait_Times.__	2,859.33	▲	15.61	▲	0.55%		
	NZX_50_Index_	6,899.62	▲	16.37	▲	0.24%		

http://finance.yahoo.com/news/us-stocks-rising-early-trading-151805848.html

*US stocks rise to fresh records in shortened session*
[Associated Press]
BERNARD CONDON

NEW YORK (AP) — Stocks hit fresh records in a shortened trading session Friday as investors continued to bet on a pickup in economic growth and rising corporate profits.

The gains were modest but broad, with nearly every sector in the Standard and Poor's 500 index rising. Utilities rose the most, up 1.4 percent.

Indexes have been rising since the presidential election, and the close on Friday capped a third week in a row of S&P 500 gains. The index is up 4 percent so far this month.

Investors anticipate that plans by President-elect Donald Trump to cut taxes, reduce regulations and spend on infrastructure will speed economic growth. Investors are also reacting to recent signs of a pickup in growth in several other major economies around the world, said Jim Paulsen, chief investment strategist for Wells Capital Management.

"We haven't had a synchronized bounce in growth across the globe ever in this recovery" Paulsen said. "This is the first time you're getting all the economic boats going north at the same time, and I think stock markets are reflecting that."

The Dow Jones industrial average rose 68.96 points, or 0.4 percent, to 19,152.14. The S&P 500 climbed 8.63 points, or 0.4 percent, to 2,213.35. The Nasdaq composite added 18.24 points, or 0.3 percent, to 5,398.92.

Stock trading closed at 1:00 p.m. Eastern time. Trading was relatively quiet as investors returned from the Thanksgiving holiday.

Investors sold bonds again on fear that inflation in the future could eat into their fixed payments. Yields, which move opposite prices, fell. The yield on the 10-year Treasury note rose to 2.36 percent.

Ten of 11 sectors of the S&P 500 rose. Energy companies fell with the price of oil. ConocoPhillips lost 55 cents, or 1.2 percent, to $45.75.

Electricity supplier Entergy Energy rose $1.41, or 2.1 percent, to $69.53. The climb in utilities on Friday reflects investor desire for steady dividends. Telephone companies, which are also big dividend payers, rose, too. AT&T climbed 48 cents, or 1.2 percent, to $39.21.

Among others stocks making moves Friday, Johnson & Johnson rose $1.06 cents, or 0.9 percent, to $114.13 after the health care company said it is in early talks to buy Swiss drugmaker Actelion.

Deere & Co. rose 1.7 percent, after rocketing 11 percent on Wednesday. The maker of agricultural and construction equipment reported a quarterly loss on Wednesday, but it was much less than expected. It closed Friday at $103.92, up $1.75.

Stocks closed higher overseas, too.

Britain's FTSE 100 and France's CAC 40 each rose 0.2 percent. Germany's DAX climbed 0.1 percent.

In Asia, Japan's Nikkei 225 finished 0.3 percent higher and South Korea's Kospi edged up 0.2 percent. Stocks in Hong Kong, Australia, Taiwan, Singapore and other Southeast Asian markets also advanced.

Oil prices fell sharply. Benchmark U.S. crude fell $1.90, or 4 percent, to $46.06 per barrel in New York. Brent crude, used to price international oils, lost $1.90, or 3.9 percent, to $47.10 in London.

Investors pushed prices up earlier in the week, but are on edge in anticipation of a meeting of OPEC nations next week. They are meeting to possibly hammer out an agreement on meaningful output cuts.

In other energy trading, wholesale gasoline fell 5 cents to $1.37 a gallon, heating oil lost 5 cents to $1.47 a gallon and natural gas rose 6 cents to $3.09 per 1,000 cubic feet.

The dollar remained at a more than eight-year high against the Chinese yuan, which was trading at 6.92 yuan per dollar. The dollar fell against the Japanese yen, to 113.09 yen from 113.69 yen, while the euro strengthened to $1.0600 from $1.0547.

6514


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-54.24	points or ▼	-0.28%	on	Monday, November 28, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,097.90	▼	-54.24	▼	-0.28%		
	Nasdaq____	5,368.81	▼	-30.11	▼	-0.56%		
	S&P_500___	2,201.72	▼	-11.63	▼	-0.53%		
	30_Yr_Bond____	2.98	▼	-0.04	▼	-1.29%		

NYSE Volume	 3,472,323,250 	 	 	 	 	  		 
Nasdaq Volume	 1,514,104,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,799.47	▼	-41.28	▼	-0.60%		
	DAX_____	10,582.67	▼	-116.60	▼	-1.09%		
	CAC_40__	4,510.39	▼	-39.88	▼	-0.88%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,532.60	▼	-37.90	▼	-0.68%		
	Shanghai_Comp	3,277.00	▲	15.06	▲	0.46%		
	Taiwan_Weight	9,222.24	▲	63.17	▲	0.69%		
	Nikkei_225___	18,356.89	▼	-24.33	▼	-0.13%		
	Hang_Seng.__	22,830.57	▲	107.12	▲	0.47%		
	Strait_Times.__	2,874.65	▲	15.32	▲	0.54%		
	NZX_50_Index_	6,902.96	▲	3.34	▲	0.05%		

http://finance.yahoo.com/news/stocks-fall-record-run-consumer-145037535.html

*Stocks pull back from records; banks, retailers fall*
[Associated Press]
KEN SWEET

NEW YORK (AP) ”” Stocks pulled back slightly on Monday, retreating from the records the market set last week.

Consumer companies and banks took some of the largest losses. Small-company stocks, which have been outperforming the rest of the market for weeks, gave back some of their recent gains.

The Dow Jones industrial average lost 54.24 points, or 0.3 percent, to 19,097.90. The Standard & Poor's 500 index lost 11.63 points, or 0.5 percent, to 2,201.72 and the Nasdaq composite lost 30.11 points, or 0.6 percent, to 5,368.81.

Consumer discretionary stocks were among the hardest hit, following the closely watched post-Thanksgiving sales push.

Online retail giant Amazon fell $13.60, or 1.7 percent, to $766.77 after Citigroup analysts cut their price target on the stock, citing deep discounting by the retailer to compete during the holiday shopping season. Barnes & Noble fell 30 cents, or 2.3 percent, to $12.50 on reports the bookseller is also doing deep discounting to attract customers.

Monday's declines follow what has been a remarkable rally in November since the upset victory of Donald Trump in the U.S. presidential election. Investors have made big bets that Trump, with a Republican-led Congress, will push to deregulate energy and banking and cut taxes, which could lead to stronger economic growth.

"The economic and equity market backdrop was already improving before the election. Trump's victory and the Republican sweep provided a catalyst for investors to ratchet up their optimism," Bob Doll, chief equity strategist at Nuveen Asset Management, wrote in a note to investors.

The Russell 2000, an index of smaller companies lost 1.3 percent on Monday, ending a 15-day winning streak. That was the longest winning streak for the index in 20 years, rising roughly 11.6 percent this month alone.

Banks also fell more than the rest of the market, with the financial sector of the S&P 500 falling 1.4 percent. Banks have surged since the election on speculation that the Trump administration will roll back some regulations put into place following the financial crisis.

Investors have also pulled out of the bond market, betting that higher economic growth will also lead to higher inflation, something the U.S. economy has had little of since the financial crisis.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.31 percent from 2.36 percent. Bond prices have been falling sharply since the election as investors anticipate that Trump's policies could lead to higher economic growth and higher inflation. The yield on the 10-year note was 1.83 percent the day before the election.

The price of benchmark U.S. oil jumped $1.02, or 2.2 percent, to $47.08 a barrel in New York ahead of a meeting of OPEC, where oil-producing countries may consider a broad cut in production. Brent crude, the international standard, rose $1, or 2 percent, to $48.24 a barrel in London.

In other energy trading, heating oil rose 4 cents to $1.51 a gallon, wholesale gasoline rose 4 cents to $1.41 a gallon and natural gas rose 15 cents to $3.23 per thousand cubic feet.

The euro edged higher against the dollar to $1.0597 from $1.0592 on Friday. The dollar fell to 112.26 Japanese yen from 113.04 yen.

The price of gold rose $12.40 to $1,190.80 an ounce, silver rose 11 cents to $16.58 an ounce and copper fell 1 cent to $2.657 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	23.7	points or ▲	0.12%	on	Tuesday, November 29, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,121.60	▲	23.70	▲	0.12%		
	Nasdaq____	5,379.92	▲	11.11	▲	0.21%		
	S&P_500___	2,204.66	▲	2.94	▲	0.13%		
	30_Yr_Bond____	2.95	▼	-0.03	▼	-1.11%		

NYSE Volume	 3,670,283,250 	 	 	 	 	  		 
Nasdaq Volume	 1,682,490,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,772.00	▼	-27.47	▼	-0.40%		
	DAX_____	10,620.49	▲	37.82	▲	0.36%		
	CAC_40__	4,551.46	▲	41.07	▲	0.91%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,520.50	▼	-12.10	▼	-0.22%		
	Shanghai_Comp	3,282.92	▲	5.92	▲	0.18%		
	Taiwan_Weight	9,192.38	▼	-29.86	▼	-0.32%		
	Nikkei_225___	18,307.04	▼	-49.85	▼	-0.27%		
	Hang_Seng.__	22,737.07	▼	-93.50	▼	-0.41%		
	Strait_Times.__	2,879.14	▲	4.49	▲	0.16%		
	NZX_50_Index_	6,901.75	▼	-1.21	▼	-0.02%		

http://finance.yahoo.com/news/energy-companies-drag-us-stocks-150404325.html

*Stocks close higher, helped by health care companies*
[Associated Press]
Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks closed slightly higher on Tuesday, boosted by health-care companies like UnitedHealth Group, which helped outweigh steep declines in energy companies.

Tiffany jumped after it reported better quarterly results than analysts expected.

The Dow Jones industrial average rose 23.70 points, or 0.1 percent, to 19,121.60. The Standard & Poor's 500 index rose 2.94 points, or 0.1 percent, to 2,204.66 and the Nasdaq composite rose 11.11 points, or 0.2 percent, to 5,379.92.

Stocks started the day slightly lower but posted slight gains by late-morning and stayed higher throughout the afternoon.

Health care stocks were a primary driver of the market's upward turn. UnitedHealth, the largest U.S. health insurer, backed its forecast for this year and said it expects its earnings to grow in 2017. That's because of stable medical costs, less exposure to Affordable Care Act health care exchanges, and growth for Optum, a business that manages pharmacy benefits, runs clinics and doctors' offices and provides technology services.

The Dow component closed up $5.48, or 3.6 percent, to $157.59.

Other health care stocks also rallied. Alexion Pharmaceuticals rose $6.21, or 5 percent, to $125.59, drugmaker AbbVie rose $2.13, or 3.6 percent, to $61.59. Other insurance companies also posted gains. Aetna rose $3.64, or 2.8 percent, to $132.03. Cigna, Humana and Anthem all closed up more than 1 percent.

Health care stocks also rose following the announcement of President-elect Donald Trump's nominee for Secretary of Health and Human Services, Georgia Congressman Tom Price, who is an adamant opponent of the Affordable Care Act and is likely to head up the Trump's administration's rollback of the law. Analysts at Jeffreys and Morgan Stanley both said this week the Trump administration would be positive for the industry.

After taking a pause on Monday, stocks remain in rally mode since the election. However the gains have slowed down in the last week.

"We're seeing a lot of consolidation after the market's big run," said Karen Hiatt, a senior portfolio manager at Allianz Global Investors.

In energy, oil prices fell sharply after it seemed like a deal to reduce oil production among OPEC nations was starting to fall apart ahead of their meeting Wednesday. Saudi Arabia's representatives have sounded skeptical while Iran is hesitant to limit its own output as it ramps up production following years of international sanctions.

Benchmark U.S. crude fell $1.85, or 3.9 percent, to close at $45.23 a barrel in New York. Brent crude, used to price international oils, tumbled $1.86, or 3.9 percent, to close at $46.38 a barrel in London.

Energy stocks followed oil prices lower, with oil giants Exxon Mobil and Chevron falling roughly 1 percent each. The energy component of the S&P 500 fell 1.2 percent on Tuesday.

Luxury jeweler Tiffany traded higher after the company reported stronger sales in Asia, which countered weaker results from the U.S. and Europe. Its stock gained $2.46, or 3.1 percent, to $80.60.

In other energy commodities, heating oil fell 5 cents to $1.46 a gallon, wholesale gasoline fell 4 cents to $1.38 a gallon and natural gas was mostly unchanged at $3.32 per 1,000 cubic feet.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.30 percent from 2.31 percent. The dollar rose to 112.33 yen from 112.26 yen. The euro rose to $1.0647 compared with $1.0597 yesterday.

In metals, the price of gold fell $2.90, or 0.2 percent, to $1,187.90 an ounce. Silver rose 8 cents to $16.66 an ounce and copper fell 6 cents to $2.60 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	1.98	points or ▲	0.01%	on	Wednesday, November 30, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,123.58	▲	1.98	▲	0.01%		
	Nasdaq____	5,323.68	▼	-56.24	▼	-1.05%		
	S&P_500___	2,198.81	▼	-5.85	▼	-0.27%		
	30_Yr_Bond____	3.02	▲	0.07	▲	2.27%		

NYSE Volume	 5,449,406,000 	 	 	 	 	  		 
Nasdaq Volume	 1,861,654,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,783.79	▲	11.79	▲	0.17%		
	DAX_____	10,640.30	▲	19.81	▲	0.19%		
	CAC_40__	4,578.34	▲	26.88	▲	0.59%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,502.40	▼	-18.10	▼	-0.33%		
	Shanghai_Comp	3,250.03	▼	-32.89	▼	-1.00%		
	Taiwan_Weight	9,240.71	▲	48.33	▲	0.53%		
	Nikkei_225___	18,308.48	▲	1.44	▲	0.01%		
	Hang_Seng.__	22,789.77	▲	52.70	▲	0.23%		
	Strait_Times.__	2,905.17	▲	26.03	▲	0.90%		
	NZX_50_Index_	6,896.95	▼	-4.80	▼	-0.07%		

http://finance.yahoo.com/news/major-indexes-set-records-energy-150046541.html

*Stocks end mostly lower, despite gains in banks, oil*
[Associated Press]
MARLEY JAY and KEN SWEET

NEW YORK (AP) ”” Stocks moved mostly lower Wednesday as gains in blue-chip energy companies and banks were not enough to make up for losses in the broader market.

The bond market took heavy losses, with the 10-year U.S. Treasury note rising to its highest level in a year and a half. The higher yields sent bond substitutes like utilities, telecommunications and real estate stocks sharply lower.

Oil stocks climbed after OPEC nations, which collectively produce more than one-third of the world's oil, agreed to trim production for the first time in eight years.

The Standard & Poor's 500 index lost 5.85 points, or 0.3 percent, to 2,198.81 and the Nasdaq composite dropped 56.24 points, or 1.1 points, to 5,323.68.

The 30-member Dow Jones industrial average closed up 1.98 points, or 0.01 percent, to 19,123.58. The gain was attributable to big increases in a handful of Dow components, mainly Goldman Sachs, Chevron and DuPont.

The bond and energy markets saw the most drama on Wednesday. Bond prices fell sharply yet again and the 10-year note's yield rose to 2.38 percent from 2.29 percent on Tuesday, a major move for that market. That yield is now trading at its highest level since July 2015.

The election of Donald Trump as the country's next president has sent investors fleeing out of safe-play assets like bonds, gold and dividend-paying stocks this month and into riskier investments like small companies, which would benefit the most from a growing domestic economy.

The Russell 2000 index, which is made up of mostly small to mid-sized companies, soared 11 percent in November. That's the biggest one-month gain for that index in five years.

Investors believe Trump's promises to cut taxes, invest heavily in infrastructure, and cut back regulation will help grow the economy and might even cause inflation, which has been almost non-existent since the financial crisis. U.S. government bonds quickly become less appealing to investors in a healthy, growing economy and in an inflationary environment.

"We have elected a pro-growth president who is going to move very quickly to make some drastic changes, and investors are trying to figure out what to do with that," said Tom di Galoma, head of Treasury trading at Seaport Global Holdings.

Di Galoma said he sees the 10-year note's yield hitting 3 percent by year end, a level not seen in nearly three years.

In energy, OPEC members finalized a deal that will cut their oil output by 1.2 million barrels a day starting in January. Preliminary terms of the deal were announced in September. It's the first time in eight years that the cartel has agreed to cut production. Russia, another major oil-producing country that is not part of OPEC, also agreed to cut its output.

The price of U.S. crude surged $4.21, or 9.3 percent, to close at $49.44 a barrel in New York. That's the biggest one-day gain since February. Brent crude, the international benchmark, gained $4.09, or 8.8 percent, to $50.47 a barrel in London.

Crude dropped almost 4 percent Tuesday as investors felt a deal was becoming less likely.

Other energy commodities also jumped sharply. Heating oil rose 11 cents to $1.57 a gallon, wholesale gasoline rose 11 cents to $1.49 a gallon and natural gas rose 3 cents to $3.35 per 1,000 cubic feet.

Higher oil prices mean more revenue for companies that extract or sell oil, and energy companies made big gains Wednesday. Exxon Mobil picked up $1.40, or 1.6 percent, to $87.30 and Chevron rose $2.22, or 2 percent, to $111.56.

More specialized oil companies, particularly drillers and oil exploration companies and companies who support drillers, soared. Marathon Oil leaped $3.11, or 20.1 percent, to $18.06. Ocean rig operator Transocean jumped $1.88, or 17 percent, to $12.90.

Banks rose as members of President-elect Donald Trump's economic team discussed ways to make it easier for banks to lend more money, which could lead to larger profits for financial institutions.

Steven Mnuchin, Trump's proposed nominee for Treasury secretary, said the administration wants to make changes to the 2010 Dodd-Frank law because it makes it harder for banks to lend. The law was passed to prevent another financial crisis, but critics say it went too far and stopped banks from making loans that people and businesses need to spend and hire.

Goldman Sachs rose $7.54, or 3.6 percent, to $219.29 and JPMorgan Chase added $1.25, or 1.6 percent, to $80.17.

The dollar rose. It climbed to 114.22 yen from 112.33 yen. The euro fell to $1.0599 from $1.0647.

In the metals market, gold dropped $16.90 to $1,173.90 an ounce, silver fell 26 cents to $16.48 an ounce and copper rose 2 cents to $2.633 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	68.35	points or ▲	0.36%	on	Thursday, December 1, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,191.93	▲	68.35	▲	0.36%		
	Nasdaq____	5,251.11	▼	-72.57	▼	-1.36%		
	S&P_500___	2,191.08	▼	-7.73	▼	-0.35%		
	30_Yr_Bond____	3.10	▲	0.08	▲	2.59%		

NYSE Volume	 5,040,164,500 	 	 	 	 	  		 
Nasdaq Volume	 2,164,046,250 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,752.93	▼	-30.86	▼	-0.45%		
	DAX_____	10,534.05	▼	-106.25	▼	-1.00%		
	CAC_40__	4,560.61	▼	-17.73	▼	-0.39%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,560.40	▲	58.00	▲	1.05%		
	Shanghai_Comp	3,273.31	▲	23.27	▲	0.72%		
	Taiwan_Weight	9,263.53	▲	22.82	▲	0.25%		
	Nikkei_225___	18,513.12	▲	204.64	▲	1.12%		
	Hang_Seng.__	22,878.23	▲	88.46	▲	0.39%		
	Strait_Times.__	2,928.58	▲	23.41	▲	0.81%		
	NZX_50_Index_	6,932.74	▲	35.79	▲	0.52%		

http://finance.yahoo.com/news/dow-reaches-record-rising-oil-150356603.html

*Oil and banks take Dow to new highs, but tech companies dive*
[Associated Press]
MARLEY JAY

NEW YORK (AP) ”” Technology companies plunged Thursday, and high-dividend stocks also took hefty losses as bond yields rose to their highest level in more than a year. But more big gains for blue-chip banking and oil stocks pulled the Dow Jones industrial average to a record high.

Big names like Facebook and Oracle fell as technology companies took their biggest losses in two months. Rising bond yields pushed income-seeking investors away from real estate and utility companies. Health care stocks also slumped.

Banks continued to soar as investors expect them to make bigger profits on loans as interest rates rise. Oil prices climbed for the second day after the countries of OPEC agreed to trim oil production next year.

Karyn Cavanaugh, senior market strategist for Voya Investment Strategies, said a focus on President-elect Donald Trump's trade policies might be hurting tech stocks. On Thursday Trump toured a Carrier factory in Indiana after announcing the company will keep some operations at the facility instead of moving them to Mexico. He warned of consequences for companies that send jobs out of the country.

"If you're going to bring jobs back to America and make stuff here, tech is going to be pretty vulnerable," she said. "If there's going to be a trade war, tech is pretty vulnerable."

The Dow gained 68.35 points, or 0.4 percent, to 19,191.93, its highest close on record. The Standard & Poor's 500 index dropped 7.73 points, or 0.4 percent, to 2,191.08. The Nasdaq composite fell 72.57 points, or 1.4 percent, to 5,251.11.

Stock indexes set records after the presidential election last month, but lately they have wobbled as different industries were pulled in opposite directions. Banks and industrial and materials companies are rising while tech stocks have weakened.

Bond prices continued to tumble, sending benchmark yields higher. The yield on the 10-year Treasury note rose to 2.44 percent from 2.38 percent, its highest since July 2015. That sent bank stocks higher because higher bond yields are linked to higher interest rates, which allow banks to make more money from lending.

Goldman Sachs jumped $7.34, or 3.3 percent, to $226.63 and JPMorgan Chase picked up $1.62, or 2 percent, to $81.79. Goldman is trading at its highest price since December 2007.

Facebook skidded $3.32, or 2.8 percent, to $115.10 and chipmaker Analog Devices dropped $5.23, or 7 percent, to $69.01. Microsoft lost $1.06, or 1.8 percent, to $59.20.

After a big gain Wednesday, the dollar slipped to 114.04 yen from 114.22 yen. The euro rose to $1.0645 from $1.0599. In the last few weeks the dollar has reached a 13-year high compared to other currencies. A strong dollar hurts profits and sales for companies that do a lot of business overseas, and the technology companies on the S&P 500 get almost 60 percent of their revenue outside the U.S.

Oil prices rallied again and reached their highest level since mid-October. Benchmark U.S. crude picked up $1.62, or 3.3 percent, to close at $51.06 a barrel in New York. Brent crude, the standard for pricing international oils, added $2.10, or 4.1 percent, to $53.94 a barrel in London. Chevron gained $1.73, or 1.6 percent, to $113.29 and Phillips 66 rose $1.90, or 2.3 percent, to $84.98.

The price of oil soared 9 percent Wednesday after the members of OPEC, which collectively produce more than one-third of the world's oil, agreed to a small cut in production starting in January. The price of oil has mostly traded between $40 and $50 a barrel since early April. It dipped as low as $26 a barrel in February.

A big post-election rally has faded in the last few days, but Cavanaugh said she thinks major indexes will move higher. She noted that corporate earnings grew in the third quarter for the first time in more than a year, and U.S. manufacturing has been recovering.

"We've been so starved for anything that could even resemble growth," she said. "If the U.S. is doing better, then that's going to help the whole entire global economy do better."

Auto sales climbed in November and broke out of a recent slump. U.S. auto sales broke records last year and there have been some signs recently that demand is waning, but on Thursday, a Toyota executive said he thought sales could set a new record in 2016.

GM and Ford climbed after they reported stronger sales growth than analysts expected. Ford gained 47 cents, or 3.9 percent, to $12.43 and General Motors rose $1.90, or 5.5 percent, to $36.43.

Parker-Hannifin, which makes motion and control products, said it will pay about $4 billion to buy Clarcor, a company that makes mobile, industrial and environmental filtration products. The deal values Clarcor at $83 per share and its stock jumped $12.13, or 17.2 percent, to $82.58 while Parker-Hannifin rose $4.54, or 3.3 percent, to $143.47.

In other energy trading, wholesale gasoline rose 6 cent to $1.55 a gallon. Heating oil added 7 cents to $1.65. Natural gas gained 15 cents to $3.51 per 1,000 cubic feet.

Gold fell $4.50 to $1,169.30 an ounce. Silver rose 2 cents to $16.51 an ounce. Copper picked up 1 cent to $2.64 a pound.

European stock indexes fell. Germany's DAX lost 1 percent and in Britain, the FTSE 100 fell 0.5 percent. The CAC 40 in France shed 0.4 percent. Japan's Nikkei 225 jumped 1.1 percent and the Kospi of South Korea was little changed. The Hang Seng index in Hong Kong gained 0.4 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-21.51	points or ▼	-0.11%	on	Friday, December 2, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,170.42	▼	-21.51	▼	-0.11%		
	Nasdaq____	5,255.65	▲	4.55	▲	0.09%		
	S&P_500___	2,191.95	▲	0.87	▲	0.04%		
	30_Yr_Bond____	3.06	▼	-0.03	▼	-1.10%		

NYSE Volume	 3,769,950,750 	 	 	 	 	  		 
Nasdaq Volume	 1,781,392,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,730.72	▼	-22.21	▼	-0.33%		
	DAX_____	10,513.35	▼	-20.70	▼	-0.20%		
	CAC_40__	4,528.82	▼	-31.79	▼	-0.70%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,502.60	▼	-57.80	▼	-1.04%		
	Shanghai_Comp	3,243.84	▼	-29.47	▼	-0.90%		
	Taiwan_Weight	9,189.49	▼	-74.04	▼	-0.80%		
	Nikkei_225___	18,426.08	▼	-87.04	▼	-0.47%		
	Hang_Seng.__	22,564.82	▼	-313.41	▼	-1.37%		
	Strait_Times.__	2,919.37	▼	-9.21	▼	-0.31%		
	NZX_50_Index_	6,904.85	▼	-27.89	▼	-0.40%		

http://finance.yahoo.com/news/stocks-start-higher-big-dividend-150647279.html

*Rally Ebbs as Investors Seek Safety After Weak Wage Data*
 By marley jay, ap markets writer

 Investors made a small move back to safer assets Friday afternoon after the government's November jobs report showed continued hiring, but weak wages.

Indexes finished little changed as real estate and household goods companies rose, but banks, which have soared since the presidential election, took losses.

Most stocks finished higher, and the biggest gains went to companies that pay big dividends, similar to bonds. Investors also bought bonds, and prices rose and yields fell.

The dollar also weakened as investors expected less inflation. Thanks to a loss from Goldman Sachs, which closed at a nine-year high on Thursday, the Dow Jones industrial average dipped after closing at a record high a day ago.

The jobs report called into question some of investors' hopes about the state of the economy, and they reversed some of the moves they've made since the presidential election three weeks ago.

"It suggests that inflationary pressures maybe aren't building as quickly, at least on the wage side, as some had supposed," said Russ Koesterich, head of asset allocation for BlackRock's Global Allocation Fund. He said investors want to see a combination of strong wage growth and stimulus spending to boost the economy in 2017. The weak wage figures throw that into doubt.

"You're less likely to see inflation build if people aren't getting paid more because they can't afford to spend more," said Koesterich.

The Dow lost 21.51 points, or 0.1 percent, to 19,170.42. The Standard & Poor's 500 index rose 0.87 points to 2,191.95. The Nasdaq composite added 4.55 points, or 0.1 percent, to 5,255.65.

The weak finish appeared to mark an end, at least for now, of the post-election rally for U.S. stocks. The S&P 500 and Nasdaq fell this week after a three-week rally took them to record highs. The Dow finished little changed.

The Labor Department said U.S. employers added 178,000 jobs in November as hiring remained steady. Investors have long expected that the Federal Reserve will raise interest rates later this month, and the jobs report did nothing to dispel that notion. But fewer people looked for work and hourly wages slipped.

Bond prices, which have been falling sharply since the presidential election, rose. The yield on the 10-year Treasury note fell to 2.30 percent from 2.45 percent.

Lower bond yields pushed investors to buy utility and real estate companies and consumer goods makers, which are often compared to bonds because of their big dividend payments. When bond yields fall, those stocks become more appealing to investors seeking income. General Growth Properties rose 62 cents, or 2.5 percent, to $25.46 and Exelon rose 84 cents, or 2.6 percent, to $33.01. PepsiCo climbed $1.57, or 1.6 percent, to $100.60.

The drop in bond yields also affected banks because yields are linked to long-term interest rates. Lower interest rates mean banks can't make as much money from lending. Goldman Sachs fell $3.27, or 1.4 percent, to $223.36 and Citigroup gave up $1.25, or 2.2 percent, to $56.02.

The financial sector of the S&P 500 is the highest it's been since 2008, up 13 percent since the presidential election.

Benchmark U.S. crude added 62 cents, or 1.2 percent, to $51.68 a barrel in New York. Brent crude, the standard for pricing international oils, picked up 52 cents, or 1 percent, to $54.46 a barrel in London. The price of oil surged 12 percent this week after OPEC countries agreed to trim the production of oil next year. That was the biggest weekly rise in oil prices since February 2011.

The dollar fell to 113.67 yen. The euro rose to $1.0660 from $1.0645.

Starbucks shares slid $1.30, or 2.2 percent, to $57.21 after the coffee chain said Howard Schultz will step down as CEO in April. He will remain chairman, and Starbucks said he will focus on new ideas like high-end shops. President and Chief Operating Officer Kevin Johnson will become CEO. Schultz gave up the CEO title in 2000, and investors feel Starbucks struggled until he became CEO again in 2008.

Human resources software company Workday gave a weak forecast. CEO Aneel Bhusri said some customers have recently delayed completing large deals, partly because of "global uncertainties such as Brexit, the U.S. presidential election, and pending elections in other G8 countries." Workday's stock tumbled $10.20, or 12.5 percent, to $71.40.

Gold rose $8.40 to $1,177.80 an ounce. Silver jumped 33 cents, or 2 percent, to $16.83 an ounce. Copper lost 2 cents to $2.63 a pound.

In other energy trading, wholesale gasoline picked up 1 cent to $1.56 a gallon. Heating oil added 1 cent to $1.66 a gallon. Natural gas lost 7 cents, or 2 percent, to $3.44 per 1,000 cubic feet.

The CAC-40 in France fell 0.7 percent and the FTSE 100 index in Britain finished 0.3 percent lower. Germany's DAX fell 0.2 percent. The Nikkei 225 index in Japan shed 0.5 percent and South Korea's Kospi lost 0.7 percent. Hong Kong's Hang Seng retreated 1.4 percent.

7369


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	45.82	points or ▲	0.24%	on	Monday, December 5, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,216.24	▲	45.82	▲	0.24%		
	Nasdaq____	5,308.89	▲	53.24	▲	1.01%		
	S&P_500___	2,204.71	▲	12.76	▲	0.58%		
	30_Yr_Bond____	3.06	▼	-0.01	▼	-0.16%		

NYSE Volume	 3,863,862,750 	 	 	 	 	  		 
Nasdaq Volume	 1,690,319,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,746.83	▲	16.11	▲	0.24%		
	DAX_____	10,684.83	▲	171.48	▲	1.63%		
	CAC_40__	4,574.32	▲	45.50	▲	1.00%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,458.00	▼	-44.60	▼	-0.81%		
	Shanghai_Comp	3,204.71	▼	-39.13	▼	-1.21%		
	Taiwan_Weight	9,160.66	▼	-28.83	▼	-0.31%		
	Nikkei_225___	18,274.99	▼	-151.09	▼	-0.82%		
	Hang_Seng.__	22,505.55	▼	-59.27	▼	-0.26%		
	Strait_Times.__	2,943.05	▲	23.68	▲	0.81%		
	NZX_50_Index_	6,854.71	▼	-50.14	▼	-0.73%		

http://finance.yahoo.com/news/dow-h...stocks-continue-climb-152156272--finance.html

*Bank stocks help Dow to another record; tech stocks recover*
[Associated Press]
MARLEY JAY

NEW YORK (AP) ”” U.S. stocks resumed their climb Monday as investors bought stocks that stand to benefit from economic growth, like banks, as well as technology companies, which have been mostly left out of a post-election rally. The Dow Jones industrial set another record high.

Energy companies rose as the price of oil reached its highest level since July 2015. Small-company stocks continued to outpace the rest of the market. Technology companies have fallen since the election as big names like Facebook and Alphabet have lost ground. But that changed Monday.

Samantha Azzarello, global market strategist for JPMorgan Asset Management, said investors have been steadily moving money away from safe-play stocks over the past year and favoring companies that stand to do the best when economic growth picks up steam, as it did in the third quarter. Azzarello said investors expect that trend to continue.

"We've had 2 to 2.5 percent growth in the U.S. and we expect that to pop even higher if we get fiscal stimulus," she said.

The Dow Jones industrial average rose 45.82 points, or 0.2 percent, to 19,216.24. Earlier it went as high as 19,274. The Standard & Poor's 500 index climbed 12.76 points, or 0.6 percent, to 2,204.71. The Nasdaq composite added 53.24 points, or 1 percent, to 5,308.89.

Stocks of small and mid-sized companies rose sharply. The Russell 2000 index jumped 23.53 points, or 1.8 percent, to 1,337.79. Thanks to a big rally in November, the Russell is up 18 percent this year, more than twice as much as the S&P 500, which tracks large U.S. companies. Smaller companies, which are more domestically focused than large multinationals, could stand to benefit more than larger ones from a pickup in U.S. growth.

Banks resumed their post-election rally and are trading at their highest levels since early 2008. Goldman Sachs gained $5.19, or 2.3 percent, to $228.55, a nine-year high. While stocks traded lower overall last week, banks are on a four-week winning streak since the election.

Microsoft added 97 cents, or 1.6 percent, to $60.22 customer-management software developer Salesforce.com climbed $3.43, or 3.5 percent, to $70.80. Tech stocks are down about 1 percent since the election as investors have wondered about the effects of President-elect Donald Trump's potential trade policies. The stocks had also reached all-time highs earlier this year.

Oil prices rose for the fourth day in a row. The price of oil has surged since OPEC countries finalized a deal that will trim oil production starting in January. Benchmark U.S. oil rose 11 cents to $51.79 per barrel in New York. Brent crude, used to price international oils, gained 48 cents to $54.94 a barrel in London.

That sent energy companies higher. Valero Energy gained $3.06, or 5 percent, to $64.52 and ConocoPhillips picked up 76 cents, or 1.6 percent, to $48.88.

Consumer-focused companies also did better than the rest of the market. Amazon jumped $19.02, or 2.6 percent, to $759.36. On Monday the online retail giant said it is testing a grocery store model that works without checkout lines.

Health care stocks took the biggest losses. Health insurer UnitedHealth, a Dow component that has soared since the election, shed $3.10, or 1.9 percent, to $157.63 and drugmaker Merck fell 88 cents, or 1.4 percent, to $60.25.

U.S. government bond prices recovered from a sharp drop earlier in the day and finished just a bit lower. The yield on the benchmark 10-year Treasury note edged up to 2.40 percent from 2.39 percent late Friday.

Italian voters rejected proposed changes to the nation's constitution on Sunday, causing political and economic uncertainty for Europe's fourth-largest economy. Premier Matteo Renzi said he would resign. UniCredit, the biggest bank in Italy, lost 3 percent in Milan. Monte dei Paschi di Siena, the country's third-biggest lender, slumped 4 percent. The bank failed a stress test this year and has been in negotiations with investors to raise money to shore up its financial position.

Italian stocks didn't move much overall, and the FTSE MIB index slipped 0.2 percent.

Azzarello of JPMorgan said that's because investors are getting used to political surprises. "After Brexit and after the U.S. election, markets are now braced for expecting the most extreme outcome when it comes to politics," she said.

Other major European indexes finished higher. Germany's DAX added 1.6 percent and France's CAC-40 gained 1 percent. In London the FTSE 100 advanced 0.2 percent. Asian stocks mostly fell. Tokyo's Nikkei 225 retreated 0.8 percent. The Hang Seng in Hong Kong lost 0.3 percent.

Also on Sunday, the Army Corps of Engineers denied a permit for the Dakota Access oil pipeline in North Dakota. The Standing Rock Sioux tribe and its supporters say the proposed route for the pipeline threatens the tribe's water source and cultural sites. It's the last major piece of construction on the $3.8 billion pipeline. The companies involved in the pipeline criticized the decision and it's not clear if the Trump administration will try to overturn the decision after Trump takes power in January.

The companies connected to the pipeline traded lower Monday. Energy Transfer Partners lost 59 cents, or 1.7 percent, to $33.79 and Sunoco Logistics shed 43 cents, or 1.9 percent, to $22.75. Those two companies recently agreed to combine.

The dollar rose to 113.75 yen from 113.67 yen. The euro rose to $1.0770 from $1.0660.

In other energy trading, wholesale gasoline remained at $1.56 a gallon and heating oil was unchanged at $1.66 a gallon. Natural gas jumped 22 cents, or 6.3 percent, to $3.65 per 1,000 cubic feet.

Gold fell $1.30 to $1,176.50 an ounce. Silver rose 7 cents to $16.90 an ounce. Copper jumped 7 cents, or 2.8 percent, to $2.70 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	35.54	points or ▲	0.18%	on	Tuesday, December 6, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,251.78	▲	35.54	▲	0.18%		
	Nasdaq____	5,333.00	▲	24.11	▲	0.45%		
	S&P_500___	2,212.23	▲	7.52	▲	0.34%		
	30_Yr_Bond____	3.08	▲	0.03	▲	0.85%		

NYSE Volume	 3,838,179,750 	 	 	 	 	  		 
Nasdaq Volume	 1,871,613,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,779.84	▲	33.01	▲	0.49%		
	DAX_____	10,775.32	▲	90.49	▲	0.85%		
	CAC_40__	4,631.94	▲	57.62	▲	1.26%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,486.60	▲	28.60	▲	0.52%		
	Shanghai_Comp	3,199.65	▼	-5.06	▼	-0.16%		
	Taiwan_Weight	9,250.77	▲	90.11	▲	0.98%		
	Nikkei_225___	18,360.54	▲	85.55	▲	0.47%		
	Hang_Seng.__	22,675.15	▲	169.60	▲	0.75%		
	Strait_Times.__	2,949.12	▲	6.07	▲	0.21%		
	NZX_50_Index_	6,910.36	▲	55.65	▲	0.81%		

http://finance.yahoo.com/news/mixed-open-us-stocks-wall-151454735.html

*Phone and bank stocks push indexes higher; Dow at record*
[Associated Press]
KEN SWEET

NEW YORK (AP) ”” Stocks posted slight gains on Tuesday, sending the Dow Jones industrial average to another record, helped by shares of telecommunications companies such as Verizon, Sprint and AT&T.

Small companies and bank stocks also rose as investors continue to speculate that U.S. economic growth will pick up under the incoming Trump administration.

The Dow Jones industrial average rose 35.54 points, or 0.2 percent, to 19,251.78, a record high close. The Standard & Poor's 500 index rose 7.52 points, or 0.3 percent, to 2,212.23 and the Nasdaq composite rose 24.11 points, or 0.5 percent, to 5,333.

Telecommunications stocks were among the biggest gainers, helped by a myriad of company-specific news. Dow member Verizon climbed 61 cents, or 1 percent, to $50.36 and AT&T rose 72 cents, or 2 percent, to $39.35. Overall, the telecom sector of the S&P 500 rose 1.5 percent.

AT&T rose following reports that its newly launched DirectTV Now service was attracting more subscribers than anticipated, while Verizon rose as the company sold a group of data centers for $3.6 billion.

Separately, Sprint and T-Mobile gained after President-elect Donald Trump said that Japanese company Softbank, which owns the majority of Sprint, was going to invest $50 billion in the U.S. to create 50,000 jobs over the next four years. However, it's not clear if Softbank's announcement is new. T-Mobile shares rose on speculation that it could be acquired in de-regulatory Trump White House, possibly by SoftBank.

Sprint jumped 12 cents, or 1.5 percent, to $8.17, while T-Mobile rose 97 cents, or roughly 2 percent, to $55.99.

Bank stocks also continued to perform well, as they have since the election. The financial services sector of the S&P 500 closed up 1 percent, far more than the broader market. The Russell 2000 index, which is made up of mostly smaller companies, rose 1.1 percent to a new record as well.

Boeing's stock dropped briefly after President-elect Trump said he believed the U.S. government should cancel its order for a new Air Force One plane, claiming the project is too expensive. The Air Force has not contracted out the new Air Force One plane, due in 2021, yet. However Boeing does have a $170 million viability contract with the Air Force to determine the capabilities of the next version of Air Force One. Boeing had been down as much as 1 percent earlier in the day, only to close mostly unchanged at $152.24.

A rally in oil prices petered out after four days of gains driven by OPEC's deal to cut production next year. Benchmark U.S. crude closed down 86 cents to $50.93 in New York. Brent crude, the international standard, shed $1.01 to $53.93 a barrel in London. While oil prices were solidly lower, energy companies were trading mostly flat to only slightly lower.

Heating oil fell 2 cents to $1.64 a gallon, wholesale gasoline fell 2 cents to $1.54 a gallon and natural gas fell 2 cents to $3.64 per 1,000 cubic feet.

In other company-specific news, Chipotle Mexican Grill dropped $29.90, or 7.5 percent, to $366.37 after the company's CEO said he was "nervous" about hitting full-year forecasts and that the company's turnaround is going slower than expected. Chipotle has struggled since an E. coli outbreak last year.

In Europe, Italy's stock market jumped 4.2 percent, a day after slipping in the wake of the failure of a constitutional referendum that forced the resignation of that country's premier. France's CAC 40 added 1.3 percent, Britain's FTSE 100 was up 0.5 percent and Germany's DAX rose 0.8 percent.

U.S. government bond prices rose slightly. The yield on the 10-year Treasury note fell to 2.39 percent from 2.40 percent late Monday.

In currencies, the euro fell against the dollar to $1.0715 versus $1.077 the day before and the dollar rose against the yen to 114.05 from 113.75 yen.

In the metals markets, gold fell $6.40 to $1,170.10 an ounce, silver fell 9 cents to $16.81 an ounce and copper fell 2 cents to $2.68 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	297.84	points or ▲	1.55%	on	Wednesday, December 7, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,549.62	▲	297.84	▲	1.55%		
	Nasdaq____	5,393.76	▲	60.76	▲	1.14%		
	S&P_500___	2,241.35	▲	29.12	▲	1.32%		
	30_Yr_Bond____	3.03	▼	-0.05	▼	-1.72%		

NYSE Volume	 4,477,452,500 	 	 	 	 	  		 
Nasdaq Volume	 2,000,484,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,902.23	▲	122.39	▲	1.81%		
	DAX_____	10,986.69	▲	211.37	▲	1.96%		
	CAC_40__	4,694.72	▲	62.78	▲	1.36%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,535.40	▲	48.80	▲	0.89%		
	Shanghai_Comp	3,222.24	▲	22.59	▲	0.71%		
	Taiwan_Weight	9,263.89	▲	13.12	▲	0.14%		
	Nikkei_225___	18,496.69	▲	136.15	▲	0.74%		
	Hang_Seng.__	22,800.92	▲	125.77	▲	0.55%		
	Strait_Times.__	2,959.84	▲	10.72	▲	0.36%		
	NZX_50_Index_	6,889.77	▼	-20.59	▼	-0.30%		

http://finance.yahoo.com/news/losses-drugmakers-pull-us-stocks-mostly-lower-150350322--finance.html

*A broad rally drives Dow, S&P 500 indexes to record highs*
[Associated Press]
MARLEY JAY

NEW YORK (AP) ”” The Dow Jones industrial average and Standard & Poor's 500 indexes soared to their biggest gains since the presidential election on Wednesday and set all-time highs. Investors bought stocks that do well in times of faster economic growth, like technology and industrial companies, but they also snapped up stocks that pay large dividends.

Stocks moved steadily higher throughout the day after a mixed open. Phone and real estate companies made the largest gains, but the rally moved into high gear in the afternoon, as airlines, railroads and trucking companies soared.

Investors took the rally in transportation stocks as a sign of optimism about economic growth. Technology and consumer-focused companies also jumped. Biotech drug companies took steep losses after President-elect Donald Trump said he wants to reduce drug prices.

The transportation sector reached an all-time high for the first time in two years. Julian Emanuel, an equity strategist for UBS, said investors were pleased to see that record because they see it as a sign businesses will start spending more, which would bolster economic growth.

"The consumer has really been the engine of the economy," he said. "The missing piece has been the corporate side, the industrial side."

The Dow Jones industrial average jumped 297.84 points, or 1.5 percent, to 19,549.62. The Standard & Poor's 500 index rose 29.12 points, or 1.3 percent, to 2,241.35. The Nasdaq composite recovered from an early loss to rise 60.76 points, or 1.1 percent, to 5,393.76. That was about five points short of its all-time high.

The Russell 2000 index of small-company stocks also recovered from an early loss and set its own a record as it gained 11.84 points, or 0.9 percent, to 1,364.51.

U.S. government bond prices rose, sending yields lower. The yield on the 10-year Treasury note fell to 2.34 percent from 2.39 percent. Bond yields have risen sharply since the summer but have slipped in the last few days.

The lower bond yields have helped stocks that are seen as bond substitutes, like real estate investment trusts. Their big dividends are attractive to investors who want income, so when bond yields fall, investors often turn to those stocks. Industrial real estate company Prologis rose $1.62, or 3.2 percent, to $52.32 and Verizon picked up $1.02, or 2 percent, to $51.38.

AT&T also jumped as a Senate antitrust panel scrutinized its planned $85.4 billion purchase of Time Warner, the parent of HBO. Legislators asked if the deal would improve competition and reduce prices for consumers, as the companies say it will. AT&T gained $1.10, or 2.8 percent, to $40.45 and Time Warner edged up 8 cents to $93.98.

A wide array of companies that stand to benefit from faster economic growth also climbed. Home improvement retailer Lowe's rose $3.94, or 5.4 percent, to $76.40 and truck maker Paccar jumped $3.20, or 5 percent, to $67.63. U.S. Steel added $1.54, or 4.3 percent, to $37.49.

IBM led technology companies higher as it rose $4.44, or 2.8 percent, to $164.79. Hard drive maker Western Digital climbed $5.30, or 8.3 percent, to $69.15 after it extended a patient licensing deal with Samsung.

In an interview with Time magazine, which named him Person of the Year, the president-elect said he wants to reduce drug prices. He did not say how his administration plans to do that. Democratic nominee Hillary Clinton campaigned on reducing drug prices, and drug company stocks had rallied since the election as investors felt that was less likely to happen under Trump.

The Nasdaq biotechnology index tumbled 2.9 percent, as those companies make costly medications and might stand to lose the most under tighter price regulations. Amgen lost $3.92, or 2.7 percent, to $141.19 and Vertex Pharmaceuticals sank $2.80, or 3.6 percent, to $75.32.

Abbott Laboratories moved to terminate its purchase of diagnostic test maker Alere. Abbott agreed to buy Alere in February for about $5.8 billion, or $56 per share. But since then, Alere has recalled a key monitoring device and delayed a financial statement, and it's being investigated over its overseas business. Alere said Abbott's lawsuit is without merit.

Alere stock dropped $3.19, or 8 percent, to $36.67 and Abbott stock added 6 cents to $38.48.

Benchmark U.S. crude oil lost $1.16, or 2.3 percent, to $49.77 a barrel in New York. Brent crude, the international standard, slid 93 cents, or 1.7 percent, to $53 a barrel in London. Energy companies traded higher Wednesday, although they rose less than the rest of the market.

European stock indexes jumped as investors anticipated that the European Central Bank will extend its bond-buying stimulus program Thursday. The stimulus is designed to boost growth and inflation. European stock indexes climbed. Germany's DAX gained 2 percent and the FTSE 100 in Britain rose 1.8 percent. The CAC 40 of France picked up 1.4 percent.

The dollar fell to 113.85 yen from 114.05 yen. The euro rose to $1.0759 from $1.0715.

In other energy trading, wholesale gasoline lost 3 cents to $1.51 per gallon. Heating oil slipped 2 cents to $1.62 a gallon. Natural gas fell 3 cents to $3.60 per 1,000 cubic feet.

Gold rose $7.40 to $1,177.50 an ounce. Silver jumped 47 cents to $17.28 an ounce. Copper dipped 4 cents to $2.64 a pound.

Japan's benchmark Nikkei 225 rose 0.7 percent and the South Korean Kospi inched up 0.1 percent. The Hang Seng in Hong Kong gained 0.5 percent.


----------



## daytradeprofit

Dow Jones hıt new records yesterday ,wil the next step be above 20,000 points ,Or maybe it's the end of the journey?

I have spoken several times over the past year for the years 1998-1999 imagination
If this is so - and there are signs for that!
There is a situation, and it is not small, we are close to exhaustion increases, which means that between January and March, could start corrective movement.
It could be mid-January, or alternatively the middle of the end of March 2018,
It is still too early to tell, but I'm not so calm, so I wrote it.
we Should begin to keep a finger on the trigger


----------



## Toyota Lexcen

every chance it could run to 20,000 by christmas


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	65.19	points or ▲	0.33%	on	Thursday, December 8, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,614.81	▲	65.19	▲	0.33%		
	Nasdaq____	5,417.36	▲	23.59	▲	0.44%		
	S&P_500___	2,246.19	▲	4.84	▲	0.22%		
	30_Yr_Bond____	3.09	▲	0.06	▲	1.85%		

NYSE Volume	 4,178,003,000 	 	 	 	 	  		 
Nasdaq Volume	 2,137,638,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,931.55	▲	29.32	▲	0.42%		
	DAX_____	11,179.42	▲	192.73	▲	1.75%		
	CAC_40__	4,735.48	▲	40.76	▲	0.87%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,599.00	▲	63.60	▲	1.15%		
	Shanghai_Comp	3,215.37	▼	-6.88	▼	-0.21%		
	Taiwan_Weight	9,375.86	▲	111.97	▲	1.21%		
	Nikkei_225___	18,765.47	▲	268.78	▲	1.45%		
	Hang_Seng.__	22,861.84	▲	60.92	▲	0.27%		
	Strait_Times.__	2,958.86	▼	-0.98	▼	-0.03%		
	NZX_50_Index_	6,916.01	▲	26.24	▲	0.38%		

http://finance.yahoo.com/news/us-indexes-back-away-record-150920325.html

*Gains for banks and materials lead stocks to all-time highs*
[Associated Press]
MARLEY JAY

NEW YORK (AP) ”” After a quiet start, major U.S. stock indexes again set all-time highs Thursday afternoon as the market built on a surge the previous day. Banks continued to lead the way as bond yields jumped, and small-company stocks soared again.

Bond yields in the U.S. and Europe, particularly in heavily indebted countries, jumped after the European Central Bank surprised investors by saying it will reduce the size of its monthly bond purchases. That sent interest rates higher, which makes it more profitable for banks to lend money.

Energy companies rose with the price of oil and companies that make chemicals and other basic materials also climbed. Industrial companies and makers of household goods slipped, which held stocks back from even larger gains.

"Bond yields are creeping higher as these central banks are easing off the pedal a bit," said John Canally, an investment strategist for LPL Financial.

The Dow Jones industrial average climbed 65.19 points, or 0.3 percent, to 19,614.81. It rose as much as 115 points around 2 p.m. The Standard & Poor's 500 index picked up 4.84 points, or 0.2 percent, to 2,246.19.

The Nasdaq composite had lagged behind the other major indexes over the last two weeks, but it rebounded along with technology companies and rose 23.59 points, or 0.4 percent, to 5,417.36.

The Russell 2000 index of small-company stocks jumped 21.87 points, or 1.6 percent, to 1,386.37.

The European Central extended its bond-buying economic stimulus program, as investors expected. It will spend about $579 billion through the end of 2017. But starting in March it will begin spending less on bonds.

While the bank said it's not getting ready to phase out its stimulus program, Canally, of LPL Financial, said investors are starting to think about the time when the ECB will gradually stop buying bonds and will start raising interest rates in response to a healthier economy.

"(It's) a big 180 from where we were a couple of months ago, where the market was pricing in negative rates for a long period of time," he said. Government bond prices in Spain, Italy and Portugal fell, and yields rose sharply.

U.S. government bond prices also fell. The yield on the 10-year Treasury note rose to 2.41 percent from 2.34 percent. That drove banks stocks up since higher interest rates will allow banks to charge more for lending money. Goldman Sachs, which has surged 33 percent since the presidential election and is trading near its all-time high, rose $5.89, or 2.5 percent, to $241.45 and Bank of America picked up 38 cents, or 1.7 percent, to $22.95.

European stocks climbed for the second day in a row. Germany's DAX jumped 1.8 percent and French CAC 40 added 0.9 percent. The FTSE 100 in Britain rose 0.4 percent.

Specialty chemicals maker DuPont helped lead materials companies higher as it added 86 cents, or 1.2 percent, to $74.68. Competitor Albemarle gained $3, or 3.4 percent, to $91.80.

Benchmark U.S. crude rose $1.07, or 2.1 percent, to $50.84 per barrel in New York. Brent crude, the international standard, added 89 cents, or 1.7 percent, to $53.89 a barrel in London.

CVS Health, a drugstore operator and pharmacy benefits manager, dropped $2.42, or 3 percent, to $78.11 as retailers of household goods weakened. Church & Dwight fell $1.09, or 2.4 percent, to $43.79 and Mondelez, the maker of Oreos and other snack foods, fell 61 cents, or 1.5 percent, to $41.33.

Athletic apparel maker Lululemon raised its annual profit forecast after its third-quarter results came in above Wall Street projections. Its stock jumped $9, or 15 percent, to $68.84.

Tailored Brands, the parent of Men's Wearhouse, soared after the company said it made progress in improving the performance of its struggling Jos. A. Bank business. The company reported strong quarterly results and jumped $7.51, or 39.7 percent, to $26.44. A year and a half ago it was trading around $60, but it has tumbled the company tried to reduce Jos. A. Bank's dependence on discounts.

Warehouse club operator Costco reported a mixed quarter, but Wall Street found some encouraging trends in its business and shares recovered some of their recent losses. Kelly Bania of BMO Capital Markets said the company might raise membership fees to deal with weaker sales, while Edward Kelly of Credit Suisse said the company's growth should get stronger thanks to a new credit card and continued consumer spending.

Costco rose $3.74, or 2.4 percent, to $157.59.

In other energy trading, wholesale gasoline was little changed at $1.50 a gallon. Heating oil gained 1 cent to $1.63 a gallon. Natural gas jumped 9 cents, or 2.6 percent, to $3.70 per 1,000 cubic feet.

The dollar rose to 114.20 yen from 113.85 yen. The euro slipped to $1.0603 from $1.0759.

Gold lost $5.10 to $1,172.40 an ounce. Silver fell 18 cents to $17.10 an ounce. Copper slid 2 cents to $2.63 a pound.

In Asia, Japan's Nikkei 225 surged 1.5 percent and the Kospi in South Korea jumped 2 percent. Hong Kong's Hang Seng index gained 0.3 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	142.04	points or ▲	0.72%	on	Friday, December 9, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,756.85	▲	142.04	▲	0.72%		
	Nasdaq____	5,444.50	▲	27.14	▲	0.50%		
	S&P_500___	2,259.53	▲	13.34	▲	0.59%		
	30_Yr_Bond____	3.15	▲	0.07	▲	2.24%		

NYSE Volume	 3,855,575,000 	 	 	 	 	  		 
Nasdaq Volume	 1,955,846,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,954.21	▲	22.66	▲	0.33%		
	DAX_____	11,203.63	▲	24.21	▲	0.22%		
	CAC_40__	4,764.07	▲	28.59	▲	0.60%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,615.80	▲	16.80	▲	0.30%		
	Shanghai_Comp	3,232.88	▲	17.52	▲	0.54%		
	Taiwan_Weight	9,392.68	▲	16.82	▲	0.18%		
	Nikkei_225___	18,996.37	▲	230.90	▲	1.23%		
	Hang_Seng.__	22,760.98	▼	-100.86	▼	-0.44%		
	Strait_Times.__	2,956.13	▼	-2.73	▼	-0.09%		
	NZX_50_Index_	6,893.30	▼	-22.71	▼	-0.33%		

http://finance.yahoo.com/news/health-stocks-rebound-us-indexes-150658185.html

*Record-setting stock streak hits sixth day on broad gains*
[Associated Press]
MARLEY JAY

NEW YORK (AP) — U.S. stocks rose for the sixth day in a row Friday as major indexes continued to set records. The biggest gains went to companies that have been mostly left out of the post-election rally, including health care companies and makers of household goods.

Stocks were solidly higher throughout the day and jumped an hour before the close of trading. Coca-Cola and Pfizer both gained 2.5 percent. Investors have mostly avoided consumer goods makers and health companies in recent weeks. Instead they've bought banks and machinery companies, which could benefit more from a faster-growing economy.

"What we're seeing today is investors who are fearful they'll be left behind," said Kate Warne, investment strategist for Edward Jones. "So it may not be surprising that they're buying less aggressive stocks and sectors."

The Dow Jones industrial average climbed 142.04 points, or 0.7 percent, to 19,756.85. The Standard & Poor's 500 index rose 13.34 points, or 0.6 percent, to 2,259.53. The Nasdaq composite gained 27.14 points, or 0.5 percent, to 5,444.50. The Russell 2000 index of smaller-company stocks edged up 1.71 points, or 0.1 percent, to 1,388.07.

The S&P 500's six-day winning streak is its longest in two and a half years.

Among household goods companies, PepsiCo gained $1.42, or 1.4 percent, to $103.57. Energy drink maker Monster Beverage also rose, as did drugstore chains CVS and Walgreens.

Coca-Cola climbed as investors reacted positively to the company's CEO transition plans. Coke said Muhtar Kent will give up his CEO title in May, and Chief Operating Officer James Quincey, a 20-year veteran of the company, will become CEO.

Drug companies bounced back from their recent losses. Those stocks, especially biotechnology companies, were hit hard this week after President-elect Donald Trump said he wants to reduce drug prices. Bristol-Myers Squibb gained $1.81, or 3.3 percent, to $57.04 and Botox maker Allergan rose $3.78, or 2 percent, to $192.25.

Overall, health care companies are nearly flat since Nov. 8.

Technology stocks rose for the sixth consecutive day and completed their best week in a year. They've slightly lagged the market since Election Day. Chipmaker Broadcom rose $8.38, or 4.9 percent, to $179.09 after reporting earnings that were far above expectations. The company also doubled its quarterly dividend. Apple gained $1.83, or 1.6 percent, to $113.95. Google parent Alphabet reversed its post-election losses and picked up $14.28, or 1.8 percent, to $809.45.

U.S. government bond prices slipped again. The yield on the 10-year Treasury note inched up to 2.47 percent, its highest in about 18 months, from 2.41 percent late Thursday. That yield is used to set interest rates on many kinds of loans including mortgages.

Next week the Federal Reserve will meet for the last time in 2016. Investors expect the central bank to raise its key interest rate, and Wall Street will look for clues about the Fed's plans for future interest rates.

"They're hoping that the Fed continues with the current message: that they'll be patient, that they're watching the economy, and that they see the risks as balanced," said Warne.

Banks made small gains. The S&P 500 financial index has climbed 18.5 percent since Nov. 9, twice as much as any other sector. The S&P 500 overall is up 3.1 percent. Banks are trading at their highest prices since early 2008.

Benchmark U.S. crude oil jumped 66 cents, or 1.3 percent, to $51.50 a barrel in New York. Brent crude, the international standard, added 44 cents to $54.33 a barrel in London.

Gold lost $10.50 to $1,161.90 an ounce. Silver fell 13 cents to $16.97 an ounce. Copper picked up 2 cents to $2.65 per pound. Gold reached a 10-month low Friday, and that helped pull mining companies lower. Basic materials makers also struggled.

In other energy trading, wholesale gasoline was little changed at $1.51 a gallon. Heating oil picked up 1 cent to $1.64 a gallon. Natural gas gained 5 cents, or 1.4 percent, to $3.75.

European stocks had an even stronger week than their U.S. counterparts after the European Central Bank said it will spend another $579 billion to stimulate the economy by buying bonds, but said it will buy slightly smaller amounts of bonds each month. It said the danger of deflation, which damages growth, had passed.

The blue-chip Euro Stoxx 50 jumped 6 percent for the week. Germany's DAX rose 0.2 percent Friday and finished the week up 6.6 percent. The CAC 40 in France rose 0.6 percent and the British FTSE 100 added 0.3 percent.

The dollar jumped to 115.23 yen from 114.07 yen. The euro fell to $1.0551 from $1.0613.

Japan's Nikkei 225 gained 1.2 percent as the yen fell. The weaker yen is good news for Japanese exporters. Among other Asian indexes, Hong Kong's Hang Seng index fell 0.4 percent.

South Korea's Kospi index slid 0.3 percent after legislators voted to impeach President Park Geun-hye over a corruption scandal. She has denied allegations she colluded with a confidante who extorted companies and manipulated state affairs. South Korea's prime minister will lead the country until a high court rules if Park must resign.

7986


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	39.58	points or ▲	0.20%	on	Monday, December 12, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,796.43	▲	39.58	▲	0.20%		
	Nasdaq____	5,412.54	▼	-31.96	▼	-0.59%		
	S&P_500___	2,256.96	▼	-2.57	▼	-0.11%		
	30_Yr_Bond____	3.16	▲	0.01	▲	0.25%		

NYSE Volume	 4,018,156,250 	 	 	 	 	  		 
Nasdaq Volume	 1,848,935,120 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,890.42	▼	-63.79	▼	-0.92%		
	DAX_____	11,190.21	▼	-13.42	▼	-0.12%		
	CAC_40__	4,760.77	▼	-3.30	▼	-0.07%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,619.10	▲	3.30	▲	0.06%		
	Shanghai_Comp	3,152.97	▼	-79.91	▼	-2.47%		
	Taiwan_Weight	9,349.94	▼	-42.74	▼	-0.46%		
	Nikkei_225___	19,155.03	▲	158.66	▲	0.84%		
	Hang_Seng.__	22,433.02	▼	-327.96	▼	-1.44%		
	Strait_Times.__	2,952.19	▼	-3.94	▼	-0.13%		
	NZX_50_Index_	6,876.04	▼	-17.26	▼	-0.25%		

http://finance.yahoo.com/news/us-indexes-hold-near-record-151938161.html

*Oil spurt drives Dow to record despite drop for most stocks*
Associated Press By STAN CHOE 

 NEW YORK (AP) ”” Stocks mostly fell on Monday, but a spurt in oil prices helped push the energy sector higher and the Dow Jones industrial average to another record.

The Dow rose 39.58 points, or 0.2 percent, to extend its record set on Friday. The Standard & Poor's 500 index, which is the benchmark for many more investors than the Dow, pulled back from its own record, also set on Friday, and dipped 2.57 points, or 0.1 percent, to 2,256.96. The Nasdaq composite fell 31.96, or 0.6 percent, to 5,412.54.

The Dow was able to make the lone gain among the big three indexes partly thanks to Exxon Mobil and Chevron. They rose with oil, which touched its highest price since the summer of 2015 after OPEC persuaded Russia and 10 other oil
producing nations to announce production cuts over the weekend.

Energy stocks in the S&P 500 rose 0.7 percent, and they were among the six sectors to rise of the 11 that make up the index.

Still, nine stocks fell on the New York Stock Exchange for every five that rose, and the day's loss marked the end of a six-day winning streak for the S&P 500, its longest such run since June 2014.

Some investors say they're taking a more cautious, wait-and-see approach following the market's strong run over the last month. The S&P 500 has climbed 5.4 percent since the presidential election on expectations that proposed tax cuts will lead to higher profits for businesses and less regulation may create stronger economic growth.

"Unless and until we see hard evidence of the economy picking up, we're going to take these profits as a gift and pocket them," says Rich Weiss, senior portfolio manager at American Century. Mutual funds that he oversees have been paring back their stock investments in recent days and weeks as the price tags for them have shot higher.

Donald Trump's surprise presidential election victory has also driven expectations for inflation higher, which have helped to drive bond yields upward. Inflation is one of bond investors' biggest fears, and they're demanding higher yields in order to compensate for the perceived increase in risk.

The yield on the 10-year Treasury note rose above 2.50 percent to its highest level since autumn 2014 before settling back at 2.47 percent on Monday, where it was on late Friday.

When the Federal Reserve wraps up its two-day policy meeting on Wednesday, investors almost universally expect it to raise short-term interest rates for just the second time in a decade.

The central bank has held interest rates at close to zero since the Great Recession in hopes of driving economic growth, though the low rates have also squeezed savers looking for income from bank accounts and bonds.

The price of U.S. benchmark crude rose $1.33, or 2.6 percent, to settle at $52.83 per barrel in New York. The price of Brent crude, the international standard, rose $1.36, or 2.5 percent, to close at $55.69 a barrel in London.

That helped Exxon Mobil to rise $1.98, or 2.2 percent, to $90.98. Chevron rose $1.34, or 1.2 percent, to $117.15, and ConocoPhillips rose 61 cents, or 1.2 percent, to $51.38.

The biggest loss in the S&P 500 came from Alexion Pharmaceuticals, which dropped $16.99, or 12.9 percent, to $115.08 after the company named an interim CEO and a new chief financial officer. The biopharmaceutical company is in the midst of an investigation into its sales practices.

Viacom had the second-biggest decline in the index. The media company, which owns Paramount, Comedy Central and MTV, fell $3.63, or 9.4 percent, to $34.99. National Amusements, which controls both Viacom and CBS, said it's no longer looking to combine the two.

Lockheed Martin fell $6.42, or 2.5 percent, to $253.11 after President-elect Trump tweeted that the cost of its F-35 fighter jet program "is out of control." Last week, Trump criticized Boeing for the cost of the next Air Force One. That tweet briefly caused Boeing stock to drop, though it quickly turned back higher.

Natural gas dropped 23.9 cents, or 6.4 percent, to settle at $3.507 per 1,000 cubic feet, giving up some of its big gains from the past month. Natural gas, which often rises with expectations of colder temperatures and increased electricity usage, rose last week to its highest price in two years.

Wholesale gasoline rose 4 cents to $1.54 per gallon, and heating oil rose 3 cents to $1.67 a gallon.

Gold rose $3.90, or 0.3 percent, to $1,165.80 per ounce. Silver rose 22 cents to $17.19 an ounce and copper fell 3 cents to $2.62 per pound.

The dollar fell against many of its rivals, including the British pound and Canadian dollar. The euro rose to $1.0630 from $1.0551, and the dollar fell to 115.12 yen from 115.23 yen.

In Europe, Britain's FTSE 100 stock index fell 0.9 percent and Germany's DAX shed 0.1 percent. France's CAC 40 was down 0.1 percent. In Asia, Japan's Nikkei 225 index rose 0.8 percent South Korea's Kospi index inched up 0.1 percent and Hong Kong's Hang Seng fell 1.4 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	114.78	points or ▲	0.58%	on	Tuesday, December 13, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,911.21	▲	114.78	▲	0.58%		
	Nasdaq____	5,463.83	▲	51.29	▲	0.95%		
	S&P_500___	2,271.72	▲	14.76	▲	0.65%		
	30_Yr_Bond____	3.15	▼	-0.02	▼	-0.47%		

NYSE Volume	 3,821,007,250 	 	 	 	 	  		 
Nasdaq Volume	 1,984,099,500 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,968.57	▲	78.15	▲	1.13%		
	DAX_____	11,284.65	▲	94.44	▲	0.84%		
	CAC_40__	4,803.87	▲	43.10	▲	0.91%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,600.70	▼	-18.40	▼	-0.33%		
	Shanghai_Comp	3,155.04	▲	2.07	▲	0.07%		
	Taiwan_Weight	9,382.14	▲	32.20	▲	0.34%		
	Nikkei_225___	19,250.52	▲	95.49	▲	0.50%		
	Hang_Seng.__	22,446.70	▲	13.68	▲	0.06%		
	Strait_Times.__	2,955.23	▲	3.04	▲	0.10%		
	NZX_50_Index_	6,850.21	▼	-25.83	▼	-0.38%		

http://finance.yahoo.com/news/stock-indexes-open-record-highs-150950524.html

*Dow nears 20,000 as energy companies and tech stocks climb*
[Associated Press]
MARLEY JAY

NEW YORK (AP) ”” Major U.S. stock indexes set records again Tuesday as energy companies continued to climb following international deals that will cut oil production. Big-name technology companies like Apple and IBM also traded higher as the Dow Jones industrial average closed above 19,900 for the first time.

The Dow finished at an all-time high for the seventh consecutive trading day. The biggest gain went to IBM, while Apple and Exxon Mobil also finished near the top.

Energy companies rose for the ninth day out of the last 10 as investors anticipated steadier oil prices and larger profits. Technology companies also jumped. They had mostly lagged the market during its post-election rally, but have moved higher in the last few days.

J.J. Kinahan, TD Ameritrade's chief strategist, said stocks have surged since the presidential election because after a long campaign, investors have a better idea which policies the country will adopt.

"The biggest questions hanging over us are gone," he said.

The Dow Jones industrial average climbed 114.78 points, or 0.6 percent, to 19,911.21. The blue-chip index went as high as 19,953. The Standard & Poor's 500 index picked up 14.76 points, or 0.7 percent, to 2,271.72. The Nasdaq composite climbed 51.29 points, or 0.9 percent, to 5,463.83.

Energy companies rose for the fifth consecutive day. Exxon Mobil climbed $1.60, or 1.8 percent, to $92.58 and Noble Energy advanced $1.80, or 4.5 percent, to $41.64.

OPEC countries agreed on Nov. 30 to trim oil production next year, and over the weekend a group of 11 other nations also agreed to make cuts. Those reductions are intended to prop up the price of oil following a two-year slump. U.S. crude is up 17 percent since the OPEC deal was announced, which has taken it to its highest price in almost a year and a half, and the S&P 500 energy index is up 10 percent.

Benchmark U.S. crude rose 15 cents to $52.98 a barrel in New York. Brent crude, the international standard, added 3 cents to $55.72 a barrel in London.

Technology companies jumped as a group of tech executives, including the CEOs of Apple and Microsoft, prepare to meet with President-elect Donald Trump on Wednesday. Kinahan said investors in technology companies may be looking forward to tax changes that will encourage them to bring more cash back to the U.S. and invest it in their businesses or return it to shareholders.

On Tuesday Apple added $1.89, or 1.7 percent, to $115.19. IBM was the biggest gainer on the Dow, as it picked up $2.79, or 1.7 percent, to $168.29.

Consumer-focused companies rose more than the rest of the market. Online retailer Amazon rose $14.22, or 1.9 percent, to $774.34 and home improvement retailer Home Depot jumped $1.96, or 1.5 percent, to $136.54. Newell Brands, which owns brands including Rubbermaid, Elmer's and Mr. Coffee, picked up 82 cents, or 1.8 percent, to $47.30.

Some companies that have performed very well over the last five weeks lost ground. Basic materials and industrial companies traded slightly lower. Banks, which have soared since the election, rose less than the rest of the market.

Larger companies did much better than smaller ones. The Russell 2000 index of small company stocks, which has soared since the election, was essentially flat.

Japanese brewer Asahi Group said it will pay $7.8 billion to buy five beer brands in Eastern Europe from Anheuser-Busch InBev, the maker of Budweiser. The brands include Pilsner Urquell. In October AB InBev bought rival SABMiller, and during those negotiations Asahi bought a group of Western European brands including Peroni and Grolsch. AB InBev picked up $1.36, or 1.3 percent, to $105.05.

Investors expect the Federal Reserve to raise interest rates when it ends a policy meeting Wednesday. The central bank last raised interest rates a year ago. It's kept rates very low since the 2008 financial crisis, but its leaders have suggested the U.S. economy is improving enough that it is time to start gradually raising rates. Low interest rates have helped drive stock prices higher, but they punish savers who look for income from bank accounts and bonds.

U.S. government bond prices rose slightly. The yield on the 10-year Treasury note dipped to 2.47 percent from 2.48 percent, its highest level since June 2015.

The dollar rose to 115.23 yen from 115.12 yen. The euro fell to $1.0622 from $1.0630.

In other energy trading, wholesale gasoline edged up 1 cent to $1.55 a gallon. Heating oil remained at $1.67 a gallon. Natural gas lost 3 cents to $3.47 per 1,000 cubic feet.

Gold fell $6.80 to $1,159 an ounce. Silver lost 21 cents, or 1.2 percent, to $16.98 an ounce. Copper fell 2 cents to $2.60 a pound.

The FTSE MIB in Italy jumped 2.5 percent and UniCredit, the largest Italian lender, soared 16 percent after it said it will unload $18.8 billion in soured loans, raise billions in cash, and cut thousands more jobs.

Germany's DAX rose 0.8 percent and the French CAC-40 was gained 0.9 percent. In Britain, the FTSE 100 rose 1.1 percent. Blue-chip stocks also led the way in Europe.

Tokyo's Nikkei 225 rose 0.5 percent. The Kospi in South Korea climbed 0.4 percent and the Hang Seng of Hong Kong added 0.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-118.68	points or ▼	-0.60%	on	Wednesday, December 14, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,792.53	▼	-118.68	▼	-0.60%		
	Nasdaq____	5,436.67	▼	-27.16	▼	-0.50%		
	S&P_500___	2,253.28	▼	-18.44	▼	-0.81%		
	30_Yr_Bond____	3.15	▲	0.00	▲	0.06%		

NYSE Volume	 4,365,605,500 	 	 	 	 	  		 
Nasdaq Volume	 1,855,653,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,949.19	▼	-19.38	▼	-0.28%		
	DAX_____	11,244.84	▼	-39.81	▼	-0.35%		
	CAC_40__	4,769.24	▼	-34.63	▼	-0.72%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,639.70	▲	39.00	▲	0.70%		
	Shanghai_Comp	3,140.53	▼	-14.51	▼	-0.46%		
	Taiwan_Weight	9,368.52	▼	-13.62	▼	-0.15%		
	Nikkei_225___	19,253.61	▲	3.09	▲	0.02%		
	Hang_Seng.__	22,456.62	▲	9.92	▲	0.04%		
	Strait_Times.__	2,954.06	▼	-1.17	▼	-0.04%		
	NZX_50_Index_	6,797.86	▼	-52.35	▼	-0.76%		

http://finance.yahoo.com/news/us-stocks-slip-ahead-federal-meeting-rates-151907845--finance.html

*Stocks fall after Fed rate hike, dollar and bond yields jump*
 By Stan Choe | AP 

NEW YORK ”” Stocks had their worst day in two months after the Federal Reserve raised interest rates Wednesday on the back of a strengthening job market and surprised investors by increasing its forecast for rate hikes next year. The dollar’s value jumped against other currencies, and bond yields climbed to their highest levels in years.

The rate increase, which was only the Fed’s second in the last decade, was widely expected across the market. But investors were surprised to see the Fed project three more increases for 2017, up from a prior forecast of two. Higher rates can slow corporate profits and economic growth.

The Standard & Poor’s 500 index fell 18.44 points, or 0.8 percent, to 2,253.28, its biggest percentage loss since mid-October. The Dow Jones industrial average fell 118.68 points, or 0.6 percent, to 19,792.53. The Nasdaq composite fell 27.16, or 0.5 percent, to 5,436.67.

The yield on the 10-year Treasury note touched its highest level in more than two years and sat at 2.57 percent late Wednesday, up sharply from 2.47 percent a day earlier. Bond yields have been in an upward trend for the last month, and the yield on the two-year Treasury reached its highest level since the summer of 2009. It was trading at 1.27 percent late Wednesday, up from 1.17 percent.

The dollar jumped more than 1 percent against several of its rivals, including the euro and the Japanese yen.

The Fed raised its key short-term rate by a quarter of a percentage point to a range of 0.50 percent to 0.75 percent. Following the rate increase announcement, Fed Chair Janet Yellen stressed that changes to its projections were modest.

Analysts also said investors shouldn’t panic about the prospect for more increases for interest rates, which are still very low by historical standards. Plus, the Fed doesn’t always follow through with projections. Just look at a year ago, says Rich Taylow, client portfolio manager at American Century.

“Remember that last year, they said they would increase rates four times,” Taylor says. “Then they said two, and then by June, it was one, and we just got that one 15 minutes ago.”

Inflation expectations have climbed since Donald Trump’s surprise victory in last month’s election, but inflation still remains relatively tame. That’s part of why Taylor continues to expect only a gradual rise in interest rates.

Investors reacted to the Fed’s announcement Wednesday by selling stocks that would be most hurt by higher interest rates.

Dividend-paying stocks had been big winners in recent years as investors turned to them in search of income given record-low bond yields. The worry is that traditional bond investors who had defected to dividend stocks will return to bonds now that yields are rising again.

Utility stocks in the S&P 500 fell 2 percent, and real-estate stocks fell 1.9 percent.

Energy stocks had the sharpest declines among the 11 sectors that make up the S&P 500 and fell 2.1 percent, dropping along with the price of oil. Benchmark U.S. crude fell $1.94 to settle at $51.04 per barrel in New York. Brent crude, the international standard, lost $1.82 to $53.90 a barrel in London.

Four stocks fell for every one that rose on the New York Stock Exchange, including Wells Fargo. The bank dropped $1.14, or 2 percent, to $54.70 after federal regulators placed restrictions on the bank due to concerns about its “living will,” which lays out its plan of action in the event of a failure.

Hertz Global Holdings fell $2.09, or 8.3 percent, to $23.04 after the struggling car rental company named a new chief executive officer. The company’s three longest-serving directors will also leave the board next month.

Among the few gainers for the day was Neustar, which jumped $5.80, or 21 percent, to $33.45 after a group of private investors said it would buy the communications company for $33.50 per share in cash.

In Europe, Britain’s FTSE 100 stock index dipped 0.3 percent, while Germany’s DAX fell 0.4 percent and France’s CAC 40 lost 0.7 percent.

In Asia, Japan's Nikkei 225 finished nearly unchanged, while South Korea's Kospi and Hong Kong's Hang Seng index also were up marginally.

Among commodities, natural gas rose nearly 7 cents to settle at $3.54 per 1,000 cubic feet. Wholesale gasoline fell nearly 2 cents to settle at $1.53 a gallon.

Gold rose $4.70 to settle at $1,163.70 an ounce. Silver rose 24 cents to settle at $17.22 an ounce, and copper rose less than a penny to settle at $2.60 per pound.

The dollar climbed to 116.37 Japanese yen from 115.23 late Tuesday. The euro fell to $1.0557 from $1.0622 late Tuesday. The British pound fell to $1.2596 from $1.2667.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	59.71	points or ▲	0.30%	on	Thursday, December 15, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,852.24	▲	59.71	▲	0.30%		
	Nasdaq____	5,456.85	▲	20.18	▲	0.37%		
	S&P_500___	2,262.03	▲	8.75	▲	0.39%		
	30_Yr_Bond____	3.15	▼	0.00	▼	-0.13%		

NYSE Volume	 4,130,639,000 	 	 	 	 	  		 
Nasdaq Volume	 1,974,601,380 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	6,999.01	▲	49.82	▲	0.72%		
	DAX_____	11,366.40	▲	121.56	▲	1.08%		
	CAC_40__	4,819.23	▲	49.99	▲	1.05%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,595.00	▼	-44.70	▼	-0.79%		
	Shanghai_Comp	3,117.68	▼	-22.85	▼	-0.73%		
	Taiwan_Weight	9,360.35	▼	-8.17	▼	-0.09%		
	Nikkei_225___	19,273.79	▲	20.18	▲	0.10%		
	Hang_Seng.__	22,059.40	▼	-397.22	▼	-1.77%		
	Strait_Times.__	2,930.77	▼	-23.29	▼	-0.79%		
	NZX_50_Index_	6,748.62	▼	-49.24	▼	-0.72%		

http://finance.yahoo.com/news/banks-lead-us-stock-indexes-150749133.html

*Banks lead stock indexes higher, and US dollar soars*
[Associated Press]
Stan Choe, AP Business Writer

NEW YORK (AP) -- A surge in banks and other financial stocks that stand to benefit from higher interest rates pushed indexes to the edge of record highs Thursday. The dollar rose sharply against other currencies and the price of gold sank on expectations that the Federal Reserve will follow up Wednesday's rate increase with several more next year.

The Standard & Poor's 500 index rose 8.75 points, or 0.4 percent, to 2,262.03. It made up about half its loss from the prior day, which was its worst in two months.

The Dow Jones industrial average rose 59.71 points, or 0.3 percent, to 19,852.24. The Nasdaq composite rose 20.18 points, or 0.4 percent, to 5,456.85. All three indexes are within half a percent of their record highs.

"I think the market is just going through a period of rational exuberance," says Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management. "The prospect for faster economic growth and the normalization of interest rates ”” these aren't bad things for the stock market."

The Federal Reserve raised short-term interest rates Wednesday by a quarter of a percentage point on the back of a strengthening economy. It was only the second rate increase in a decade, and the Fed indicated three more may be on the way in 2017.

That helped goose the dollar's value, which has been climbing against other currencies for the past couple years. The ICE U.S. Dollar index, which tracks the value of the dollar against the euro, Japanese yen and four other currencies, rose to its highest level since 2002.

Higher rates can also help banks reap bigger profits from making loans, and financial stocks jumped to the biggest gain of the 11 sectors that make up the S&P 500 index, 1 percent.

Bank of America rose 49 cents, or 2.2 percent, to $23.16, and Zions Bancorp. gained 84 cents, or 2 percent, to $43.04.

Stocks that pay big dividends lagged behind the rest of the market on fears that higher interest rates will push income investors away from them and back into bonds. Real-estate stocks in the S&P 500 fell 0.7 percent.

The yield on the 10-year Treasury note rose to 2.60 percent from 2.57 percent late Wednesday and reached its highest level in more than two years. The two-year Treasury yield held steady at 1.27 percent.

Higher yields mean newly issued bonds pay higher interest, but they also pull down prices of existing bonds sitting in investors' portfolios and bond funds.

Roughly four stocks rose for every three that fell on the New York Stock Exchange, and nine of the 11 sectors that make up the S&P 500 index rose.

Eli Lilly was one of the top-performing stocks in the index after rising $3.70, or 5.5 percent, to $71.37. The drugmaker gave a stronger-than-expected profit forecast for next year.

Pier 1 Imports surged $2.09, or 32.3 percent, to $8.57 after reporting stronger-than-expected earnings for the latest quarter and raised its forecast for full-year results.

The worst-performing stock in the S&P 500 was Yahoo, which fell $2.50, or 6.1 percent, to $38.41 after disclosing a breach that affected more than a billion user accounts, the largest such attack in history.

Gold dropped to its lowest price in 10 months. Higher interest rates often hurt the price of gold, which investors tend to flock to when they're worried about the prospect of higher inflation and too-low interest rates. Gold fell $33.90, or 2.9 percent, to settle at $1,129.80 per ounce.

Silver fell $1.26 to settle at $15.96 an ounce, and copper dipped by less than a penny to $2.60 per pound.

Benchmark U.S. crude slipped 14 cents to settle at $50.90 a barrel on the New York Mercantile Exchange. Brent crude, the international standard, rose 12 cents to $54.02 a barrel in London. Natural gas fell 10.6 cents to $3.434 per 1,000 cubic feet, and wholesale gasoline rose nearly a penny to $1.54 per gallon. Heating oil was little changed at $1.64 a gallon.

In European stock markets, Germany's DAX rose 1.1 percent, France's CAC 40 gained 1 percent and Britain's FTSE 100 rose 0.7 percent. In Asia, Japan's Nikkei 225 index gained 0.1 percent, Hong Kong's Hang Seng fell 1.8 percent and South Korea's Kospi was virtually flat.

The dollar rose to 117.93 Japanese yen from 116.37 late Wednesday, following up on a 1 percent jump. The euro fell to $1.0424 from $1.0557, and the British pound fell to $1.2436 from $1.2596.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-8.83	points or ▼	-0.04%	on	Friday, December 16, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,843.41	▼	-8.83	▼	-0.04%		
	Nasdaq____	5,437.16	▼	-19.69	▼	-0.36%		
	S&P_500___	2,258.07	▼	-3.96	▼	-0.18%		
	30_Yr_Bond____	3.18	▲	0.04	▲	1.24%		

NYSE Volume	 5,915,246,000 	 	 	 	 	  		 
Nasdaq Volume	 2,331,899,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,011.64	▲	12.63	▲	0.18%		
	DAX_____	11,404.01	▲	37.61	▲	0.33%		
	CAC_40__	4,833.27	▲	14.04	▲	0.29%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,589.70	▼	-5.30	▼	-0.09%		
	Shanghai_Comp	3,122.98	▲	5.30	▲	0.17%		
	Taiwan_Weight	9,326.78	▼	-33.57	▼	-0.36%		
	Nikkei_225___	19,401.15	▲	127.36	▲	0.66%		
	Hang_Seng.__	22,020.75	▼	-38.65	▼	-0.18%		
	Strait_Times.__	2,937.86	▲	7.09	▲	0.24%		
	NZX_50_Index_	6,760.24	▲	11.62	▲	0.17%		

http://finance.yahoo.com/news/us-stock-indexes-inch-higher-bond-yields-relax-150826487--finance.html

*Weak tech, bank stocks pull indexes back from record highs*
[Associated Press]
STAN CHOE

NEW YORK (AP) — Falling technology and financial stocks pulled U.S. indexes back from the edge of record highs on Friday. Bond yields gave up some of their big gains from the last few days, and the dollar downshifted from its sharp climb against other currencies.

The Standard & Poor's 500 index fell 3.96 points, or 0.2 percent, to 2,258.07. It had wobbled up and down through the day, never rising by more than 0.3 percent or falling by more than 0.3 percent.

The Dow Jones industrial average fell 8.83 points, or less than 0.1 percent, to 19,843.41. The Nasdaq composite fell 19.69, or 0.4 percent, to 5,437.16 after climbing above its record closing level earlier in the day. All three indexes remain within 1 percent of their record highs.

Friday's moves close a week where stocks slowed their sharp ascent since last month's presidential election, and bond yields and the dollar continued their big gains. A driving force was the Federal Reserve's move on Wednesday to raise interest rates for only the second time in a decade and indicate several more increases may be in store for 2017.

The dollar gave back a smidgen of its gains on Friday. The ICE U.S. Dollar index, which measures the dollar against six other currencies, dipped 0.2 percent. The index remains close to its highest level in 14 years.

The yield on the 10-year Treasury likewise regressed a bit Friday, dipping to 2.59 percent from 2.60 percent late Thursday. It's still near its highest level since 2014.

Friday's drop in yields helped drive stocks that pay big dividends higher. They often trade in the opposite direction of interest rates on expectations that income investors will buy them when bond yields are dropping. Those sectors had struggled in recent days.

Utility stocks and real-estate investment trusts both rose 1.2 percent on Friday, the largest gains among the 11 sectors that make up the S&P 500.

Banks and other financial stocks fell in a rare off-day. The sector has been cruising since last month's election on expectations that higher interest rates will boost their profits.

Financial stocks in the S&P 500 fell 0.9 percent. Bank of America fell 50 cents, or 2.2 percent, to $22.66, and Regions Financial fell 32 cents, or 2.2 percent, to $14.20.

Technology stocks in the S&P 500 fell 0.8 percent. Software giant Oracle fell $1.76, or 4.3 percent, to $39.10 after reporting revenue for its latest quarter that fell short of analysts' expectations.

Despite drops for the S&P 500 and other indexes, more stocks rose on the New York Stock Exchange than fell.

Among them was Chipotle Mexican Grill, which jumped $9.72, or 2.5 percent, to $392.07. The restaurant chain said four new directors will join its board as part of an agreement with activist investor Bill Ackman's Pershing Square.

Jabil Circuit rose $2.58, or 12 percent, to $24.15 after reporting stronger earnings for its latest quarter than analysts expected.

Big gains since last month's election mean stocks generally are more expensive relative to their earnings, a key gauge investors use to measure whether the market is overpriced.

The S&P 500 is trading at about 19 times its earnings per share over the last 12 months, according to FactSet. That compares with its average price-earnings ratio of 15.6 over the last 15 years and is an indication that stocks are, if not expensive, no longer cheap. And that, in turn, implies lower future returns than the big gains investors have enjoyed since the Great Recession's end.

"I do think we're in a low-return environment," says Bernie Williams, chief investment officer for USAA's Wealth Management Investment Solutions. "Of course, we thought that at the start of this year, too, and here we are up 10 percent."

In foreign stock markets, Japan's Nikkei 225 gained 0.7 percent, South Korea's Kospi rose 0.3 percent and Hong Kong's Hang Seng fell 0.2 percent. In Europe, Germany's DAX rose 0.3 percent, France's CAC 40 rose 0.3 percent and Britain's FTSE 100 rose 0.2 percent.

Crude oil rose $1 to settle at $51.90 a barrel in New York. Brent crude, the international standard, rose $1.19 to close at $55.21 a barrel in London. Natural gas slipped nearly 2 cents to settle at $3.415 per 1,000 cubic feet, wholesale gasoline rose 1.5 cents to $1.56 a gallon and heating oil rose 3 cents to $1.67 a gallon.

Gold recovered a bit after falling to its lowest price in 10 months on Thursday. It rose $7.60 to settle at $1,137.40 an ounce. Silver rose nearly 26 cents to $16.22 an ounce, and copper fell 3.6 cents to $2.56 a pound.

The euro rose to $1.0433 from $1.0424, the British pound rose to $1.2476 from $1.2436 and the dollar climbed to 118.01 Japanese yen from 117.93 yen.


8799


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	39.65	points or ▲	0.20%	on	Monday, December 19, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,883.06	▲	39.65	▲	0.20%		
	Nasdaq____	5,457.44	▲	20.28	▲	0.37%		
	S&P_500___	2,262.53	▲	4.46	▲	0.20%		
	30_Yr_Bond____	3.12	▼	-0.06	▼	-1.98%		

NYSE Volume	 3,205,228,250 	 	 	 	 	  		 
Nasdaq Volume	 1,594,719,620 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,017.16	▲	5.52	▲	0.08%		
	DAX_____	11,426.70	▲	22.69	▲	0.20%		
	CAC_40__	4,822.77	▼	-10.50	▼	-0.22%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,612.80	▲	23.10	▲	0.41%		
	Shanghai_Comp	3,118.08	▼	-4.90	▼	-0.16%		
	Taiwan_Weight	9,239.32	▼	-87.46	▼	-0.94%		
	Nikkei_225___	19,391.60	▼	-9.55	▼	-0.05%		
	Hang_Seng.__	21,832.68	▼	-188.07	▼	-0.85%		
	Strait_Times.__	2,913.08	▼	-24.78	▼	-0.84%		
	NZX_50_Index_	6,786.25	▲	26.01	▲	0.38%		

http://finance.yahoo.com/news/us-indexes-edge-higher-tech-150933698.html

*Big dividend payers lead indexes higher in quiet trading*

 By MARLEY JAY AP Markets Writer 

NEW YORK

With the Christmas holiday and the end of 2016 coming into view, U.S. stocks edged higher Monday as bond yields dropped and investors who sought income moved money into phone company and real estate stocks.

Technology and industrial companies rose, while energy companies skidded and health care stocks continued to lag the rest of the market. Disney climbed after a strong opening weekend for "Rogue One: A Star Wars Story," its second movie in the revived "Star Wars" franchise.

Trading volume was the lowest since mid-October, except for the abbreviated trading session after the Thanksgiving holiday. Stocks were on track for larger gains early in the day and the Nasdaq was briefly on pace for a record high, but investor enthusiasm waned by the afternoon.

David Lefkowitz, senior equity strategist at UBS Wealth Management Americas, said that stocks have surged since the presidential election and investors might be more cautious in the weeks to come as they wait for details of President-elect Donald Trump's policy agenda.

"We're going to have to move from the grand vision of things to actually getting some of these policies done," he said.

Bond yields have surged to multi-year highs in recent days, but they moved lower Monday. That helped companies that pay large dividends, as they are often compared to bonds and are more appealing to investors when yields fall.

The Dow Jones industrial average rose 39.65 points, or 0.2 percent, to 19,883.06. The Standard & Poor's 500 index gained 4.46 points, or 0.2 percent, to 2,262.53. The Nasdaq composite added 20.28 points, or 0.4 percent, to 5,457.44. The Russell 2000 index of small-company stocks rose 7.49 points, or 0.5 percent, to 1,371.68.

Bond prices rose. The yield on the 10-year Treasury note slid to 2.54 percent from 2.60 percent late Friday. That sent interest rates lower and affects the profits banks make from mortgages and other loans. Bank stocks lagged the market.

Income-seeking investors turned their attention to groups of stocks that pay large dividends, similar to bonds. That sparked gains for real estate, phone and utility companies. Health care facility investor HCP gained $1.16, or 4 percent, to $30.30 and power company NRG Energy rose 55 cents, or 4.5 percent, to $12.85.

Government bond yields have climbed over the last few months and have jumped since the election. Last week the yield on the 10-year note rose to its highest level in more than two years.

Both technology and industrial stocks are trading around all-time highs and continued to rise Monday. Microsoft added $1.32, or 2.1 percent, to $63.62 and software maker Adobe advanced $1.74, or 1.7 percent, to $105.29. Industrial companies also did better than the broader market. Boeing rose $1.68, or 1.1 percent, to $156.18. United Technologies, which makes elevators, jet engines and other products, picked up $2.30, or 2.1 percent, to $110.82.

Crude oil inched up 22 cents to $52.12 a barrel in New York. Brent crude, the international standard, gave up 29 cents to $54.92 a barrel in London. Energy companies took small losses. They're trading at their highest prices in about 18 months after a big six-week rally. Noble Energy lost 91 cents, or 2.2 percent, to $40.25 and Baker Hughes skidded 66 cents, or 1 percent, to $65.73.

Disney climbed after "Rogue One: A Star Wars Story" brought in an estimated $155 million in worldwide ticket sales in its first weekend. That was better than expected and the second-best December movie opening ever, after "Star Wars: The Force Awakens" last year. Disney rose $1.39, or 1.3 percent, to $105.30.

Insurance company Allied World Assurance will be bought by Fairfax Financial Holdings of Canada for $54 a share in cash and stock, or $4.7 billion. Its stock jumped $5.99, or 13.1 percent, to $51.76.

Electronic trading firm Virtu Financial slipped 65 cents, or 4 percent, to $15.55 after President-elect Trump said he plans to nominate the company's founder and chairman, Vincent Viola, for the position of secretary of the Army. Viola, an Army veteran, is a former chairman of the New York Stock Exchange and owns the NHL's Florida Panthers. He's the second head of a publicly-traded company expected to take a role in Trump's administration, following Rex Tillerson, the CEO of Exxon Mobil, who has been nominated for secretary of state.

Former World Wrestling Entertainment CEO Linda McMahon and CKE Restaurants CEO Andy Puzder are also expected to join the administration, as are Goldman Sachs President Gary Cohn and billionaire investor Wilbur Ross.

Virtu went public last April in an IPO that priced at $19 a share. Its market capitalization is around $600 million.

The dollar fell to 117.24 yen from 118.01 yen late Friday. The euro fell to $1.0404 from $1.0433.

Gold rose $5.30 to $1,142.70 an ounce. Silver lost 13 cents to $16.09 an ounce. Copper sank 7 cents, or 2.5 percent, to $2.50 a pound.

In other energy trading, wholesale gasoline rose 1 cent to $1.56 a gallon. Heating oil remained at $1.67 a gallon. Natural gas fell 2 cents to $3.39 per 1,000 cubic feet.

The FTSE 100 index in Britain added 0.1 percent while Germany's DAX rose 0.2 percent. In France the CAC-40 was 0.2 percent lower. Japan's benchmark Nikkei 225 index slipped 0.1 percent while in South Korea the Kospi edged 0.2 percent lower and Hong Kong's Hang Seng shed 0.9 percent


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	HIGHER ▲	91.56	points or ▲	0.46%	on	Tuesday, December 20, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,974.62	▲	91.56	▲	0.46%		
	Nasdaq____	5,483.94	▲	26.50	▲	0.49%		
	S&P_500___	2,270.76	▲	8.23	▲	0.36%		
	30_Yr_Bond____	3.15	▲	0.03	▲	0.96%		

NYSE Volume	 3,295,604,250 	 	 	 	 	  		 
Nasdaq Volume	 1,591,803,880 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,043.96	▲	26.80	▲	0.38%		
	DAX_____	11,464.74	▲	38.04	▲	0.33%		
	CAC_40__	4,849.89	▲	27.12	▲	0.56%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,640.00	▲	27.20	▲	0.48%		
	Shanghai_Comp	3,102.88	▼	-15.21	▼	-0.49%		
	Taiwan_Weight	9,242.41	▲	3.09	▲	0.03%		
	Nikkei_225___	19,494.53	▲	102.93	▲	0.53%		
	Hang_Seng.__	21,729.06	▼	-103.62	▼	-0.47%		
	Strait_Times.__	2,911.31	▼	-1.77	▼	-0.06%		
	NZX_50_Index_	6,789.67	▲	3.42	▲	0.05%		

http://finance.yahoo.com/news/banks-lead-us-stocks-higher-dow-inches-closer-151920029.html

*Travel stocks rise as Dow inches closer to 20,000*
[Associated Press]
MARLEY JAY

NEW YORK (AP) ”” Big gains for banks and companies focused on travel helped propel U.S. stock indexes to record levels on Tuesday. The Dow Jones industrial average moved closer than ever to 20,000, but the symbolic threshold remained just out of reach.

Banks once again led the way Tuesday as bond yields and interest rates bounced higher. Strong earnings from cruise line operator Carnival and gains for travel website TripAdvisor led consumer companies higher. Household goods makers fell after Cheerios maker General Mills cut its sales projections for the year, and energy companies fell for the second day in a row. That hadn't happened three weeks. The Dow came within 13 points of the 20,000 mark around 10 a.m. Trading remained light as the Christmas holiday approached.

Stocks have soared since the presidential election and the Dow has risen almost 1,000 points in under a month, and some investors think that means stocks won't move much in 2017.

"We're at fair value," said Scott Wren, a senior global equity strategist at the Wells Fargo Investment Institute. "This is not going to be a big return year for the stock market."

The Dow gained 91.56 points, or 0.4 percent, to a record close at 19,974.62. The Standard & Poor's 500 index picked up 8.23 points, or 0.4 percent, to 2,270.76. The Nasdaq composite also finished at a record as it added 26.50 points, or 0.5 percent, to 5,483.94. The Russell 2000 index of small-company stocks jumped 12.27 points, or 0.9 percent, to 1,383.96.

Bond prices reversed course and fell after climbing higher Monday. The yield on the 10-year Treasury note rose to 2.56 percent from 2.54 percent. Bond yields have risen sharply of late, and that's good for banks because higher bond yields are linked to higher interest rates, which let them make more money from lending. Regions Financial rose 30 cents, or 2.1 percent, to $14.58 and Citigroup gained $1.14, or 1.9 percent, to $60.80.

Cruise line operator Carnival reported profit and sales that were stronger than expected. The company said bookings for trips in 2017 are stronger than they were at this time last year. It said both ticket sales and prices are up. Carnival stock rose $1.17, or 2.3 percent, to $52.49 and competitor Royal Caribbean gained $2.85, or 3.4 percent, to $85.40.

Travel website operator TripAdvisor jumped $2.34, or 5 percent, to $48.79 after it said it will start adding some Expedia brands to its instant hotel booking platform.

Other consumer companies also gained ground. Used car dealership Carmax jumped $3.80, or 6.1 percent, to $66.16 after a strong earnings report. Consumer-focused companies have outperformed the market since the November election as investors expect them to benefit from a possible pickup in economic growth. But the sector has lagged the market in 2016 after a large gain a year ago.

Cheerios and Pillsbury roll maker General Mills cut its sales outlook for the year. The Minnesota company and many of its competitors have struggled as more Americans stay away from processed foods. Its stock lost $1.61, or 2.6 percent, to $61.45. Other household goods makers like Tyson Foods and Kraft Heinz also traded lower. Beer and wine maker Constellation Brands slid $6.32, or 4 percent, to $150.45 after it completed the sale of its Canadian wine business.

Retailer Fred's soared after it agreed to buy 865 Rite Aid pharmacies for $950 million. That's a huge expansion for Fred's, which had 648 total stores at the end of October. Only about half of them had pharmacies. Its stock surged $9.04, or 81.1 percent, to $20.19.

The sale may also clear the way for Walgreens Boots Alliance, the largest U.S. drugstore operator, to buy Rite Aid. That $9.4 billion deal was announced more than a year ago. Rite Aid climbed 44 cents, or 5.4 percent, to $8.61 and Walgreens picked up 22 cents to $86.28. If the two sales close, Fred's will become the third-largest drugstore chain in the U.S.

Industrial gas company Praxair traded lower after it said it will combine with Germany's Linde AG in an all-stock deal. The combined company will be worth some $65 billion, the firms said. Linde and Praxair began talking about a possible deal in August, but a few weeks later Linde said they'd failed to agree on details. Praxair slid $4.61, or 3.7 percent, to $118.39.

Benchmark U.S. crude gained 11 cents to $52.23 per barrel in New York. Brent crude, the international standard, jumped 43 cents to $55.35 a barrel in London.

In other energy trading, wholesale gasoline added 3 cents to $1.59 a gallon. Heating oil stayed at $1.67 a gallon. Natural gas dropped 13 cents, or 3.8 percent, to $3.26 per 1,000 cubic feet.

The dollar, which has been trading at 14-year highs, continued to gain strength. It climbed to 118.04 yen from 117.24 yen. The euro fell to $1.0377 from $1.0404.

Gold slid $9.10 to $1,133.60 an ounce. Silver rose 3 cents to $1.12 an ounce. Copper held steady at $2.50 a pound.

The CAC-40 in France rose 0.6 percent. Britain's FTSE 100 finished up 0.4 percent and the German DAX added 0.3 percent. Japanese stocks reached another fresh high for the year after the Bank of Japan left its current monetary policy unchanged. It said the "moderate recovery" of the world's third-largest economy was on track. The Nikkei 225 index advanced 0.5 percent, and South Korea's Kospi added 0.2 percent. Hong Kong's Hang Seng index fell 0.5 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  	LOWER ▼	-32.66	points or ▼	-0.16%	on	Wednesday, December 21, 2016	**
 Symbol …........Last …......Change....... * 
	Dow_Jones	19,941.96	▼	-32.66	▼	-0.16%		
	Nasdaq____	5,471.43	▼	-12.51	▼	-0.23%		
	S&P_500___	2,265.18	▼	-5.58	▼	-0.25%		
	30_Yr_Bond____	3.13	▼	-0.03	▼	-0.83%		

NYSE Volume	 2,852,160,250 	 	 	 	 	  		 
Nasdaq Volume	 1,421,088,750 							

 *Europe	 	 	 	 	 		**
 Symbol... .....Last ….....Change....... * 
	FTSE_100	7,041.42	▼	-2.54	▼	-0.04%		
	DAX_____	11,468.64	▲	3.90	▲	0.03%		
	CAC_40__	4,833.82	▼	-16.07	▼	-0.33%		

 *Asia Pacific							**
 Symbol...... ….......Last .....Change…...... * 
	ASX_All_Ord___	5,662.00	▲	22.00	▲	0.39%		
	Shanghai_Comp	3,137.43	▲	34.55	▲	1.11%		
	Taiwan_Weight	9,204.26	▼	-38.15	▼	-0.41%		
	Nikkei_225___	19,444.49	▼	-50.04	▼	-0.26%		
	Hang_Seng.__	21,809.80	▲	80.74	▲	0.37%		
	Strait_Times.__	2,901.70	▼	-9.61	▼	-0.33%		
	NZX_50_Index_	6,802.76	▲	13.09	▲	0.19%		

http://finance.yahoo.com/news/mixed-open-stocks-keeps-dow-150831878.html

*Not today: Dow still short of 20,000 as health stocks skid*
[Associated Press]
MARLEY JAY

NEW YORK (AP) ”” Stocks finished slightly lower Wednesday as health care companies continued to struggle. Energy companies rose as the price of natural gas surged on the first day of winter.

Some traders aren't sticking around to see if the Dow Jones industrial average reaches the 20,000-point milestone: trading volume has fallen sharply this week as the year-end holidays draw near.

After a mixed open, stocks finished at their lowest prices of the day. Health care companies continued to lag the market, as they've done throughout 2016. Industrial companies, which have surged since the presidential election, also eased lower. A jump of almost 9 percent in the price of natural gas helped gas and pipeline companies move higher.

"It looks like we're going to see another cold blast," said Jim Ritterbusch, an analyst who advises oil traders. He said weather forecasts suggest temperatures will drop later next week, which means people will use more natural gas to heat their homes.

The Dow dipped 32.66 points, or 0.2 percent, to 19,941.96. The Standard & Poor's 500 index lost 5.58 points, or 0.2 percent, to 2,265.18. The Nasdaq composite fell 12.51 points, or 0.2 percent, to 5,471.43.

Cancer drug maker Celgene dipped $2.67, or 2.3 percent, to $116.40 and Merck skidded $1.07, or 1.8 percent, to $59.43 while health insurance company Anthem lost $2.68, or 1.8 percent, to $144.98 as health care stocks fell. The S&P 500 health care index is down 4.4 percent this year. The S&P 500 itself is up almost 11 percent.

Natural gas companies made big gains thanks to a surge in natural gas futures. The price of that fuel climbed 28 cents, or 8.6 percent, to $3.54 per 1,000 cubic feet on the first day of winter. Southwestern Energy jumped 60 cents, or 5.8 percent, to $10.98 and Cabot Oil & Gas gained 62 cents, or 2.8 percent, to $22.44. Drilling service and pipeline companies also rose.

The price of natural gas has fluctuated sharply in the last few months.

"Whenever you get extreme volatility in the weather patterns, that translates to price volatility in futures," said Ritterbusch, the energy analyst.

FedEx said its quarterly expenses climbed and its earnings fell short of Wall Street estimates. The company's stock lost $6.62, or 3.3 percent, to $192.12.

Twitter slumped after Chief Technology Officer Adam Messinger said he's leaving the company. The struggling company has seen a number of executives leave recently. Former Chief Operating Officer Adam Bain left in November. In October Twitter said it would eliminate 9 percent of its workforce. Twitter fell 84 cents, or 4.7 percent, to $17.08.

AMC Entertainment took a step toward completing its purchase of competitor Carmike Cinemas. The Department of Justice said it will sign off on the sale if AMC sells 15 movie theaters in areas where it competes with Carmike. It will also sell most of its holdings in cinema advertising company National CineMedia and transfer 24 theaters to a rival theater ad company.

AMC agreed to buy Carmike in July for about $825 million in cash and stock in a deal that would make AMC the biggest movie theater chain in the U.S. Its stock rose $1.25, or 3.7 percent, to $34.70.

Mobile gyroscope maker InvenSense said it will be acquired by Japan's TDK Corp. for $13 a share, or $1.22 billion. That sent the stock to its highest price in almost a year and a half. InvenSense gained $1.91, or 17.6 percent, to $12.75.

Nike gained 51 cents, or 1 percent, to $52.30 after its second-quarter profit and sales came in stronger than analysts expected. Nike is by far the worst performer on the Dow this year. Its stock has tumbled 16 percent in part thanks to competition with Under Armour. Investors fear the rivalry is affecting both companies.

Benchmark U.S. crude fell 81 cents, or 1.5 percent, to $52.49 a barrel in New York. Brent crude, the international standard, lost 89 cents, or 1.6 percent, to $54.46 a barrel in London.

The dollar declined to 117.54 yen from 118.04 yen. The euro rose to $1.0427 from $1.0377.

Bond prices inched higher. The yield on the 10-year Treasury note slid to 2.54 percent from 2.56 percent.

In other energy trading, wholesale gasoline rose 1 cent to $1.61 a gallon. Heating oil lost 3 cents, or 1.7 percent, to $1.64 a gallon.

Gold fell 40 cents to $1,133.20 an ounce. Silver sank 14 cents to $15.98 an ounce. Copper remained at $2.50 a pound.

The CAC-40 in France gave up 0.3 percent. Britain's FTSE 100 and Germany's DAX finished little changed. In Hong Kong, the Hang Seng rose 0.4 percent and Tokyo's Nikkei 225 shed 0.3 percent. The South Korean Kospi retreated 0.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com

 *The NYSE DOW closed  LOWER ▼ -23 points or ▼ ### on #### *
* Symbol …........Last …......Change.......* 

 Dow_Jones 19,918.88 ▼ -23.08 ▼ -0.12%
 Nasdaq____ 5,447.42 ▼ -24.01 ▼ -0.44%
 S&P_500___ 2,260.96 ▼ -4.22 ▼ -0.19%
 30_Yr_Bond____ 3.13 ▲ 0.01 ▲ 0.16% 

NYSE Volume          2,874,374,750          
Nasdaq Volume          1,489,304,250

*Europe        *
* Symbol... .....Last ….....Change....... * 

 FTSE_100 7,063.68 ▲ 22.26 ▲ 0.32%
 DAX_____ 11,456.10 ▼ -12.54 ▼ -0.11%
 CAC_40__ 4,834.63 ▲ 0.81 ▲ 0.02%

 *Asia Pacific*
* Symbol...... ….......Last .....Change…......*
 ASX_All_Ord___ 5,691.80 ▲ 29.80 ▲ 0.53%
Shanghai_Comp 3,139.56 ▲ 2.13 ▲ 0.07%
 Taiwan_Weight 9,118.75 ▼ -85.51 ▼ -0.93%
Nikkei_225___ 19,427.67 ▼ -16.82 ▼ -0.09% 
Hang_Seng.__ 21,636.20 ▼ -173.60 ▼ -0.80%
Strait_Times.__ 2,882.04 ▼ -19.66 ▼ -0.68%
 NZX_50_Index_ 6,851.87 ▲ 49.11 ▲ 0.72%

http://finance.yahoo.com/news/health-care-consumer-companies-us-stocks-lower-150033181--finance.html

*Stocks slide again as retailers and tech companies slip*




Marley Jay, AP Markets Writer

NEW YORK (AP) -- Retailers took losses Thursday and pulled U.S. stocks lower in another day of mild trading before the holidays.

Bed Bath & Beyond was pummeled after the home goods retailer reported weak results, and investors also dumped companies like Target, Staples and Dollar Tree. Chinese e-commerce company Alibaba fell after it was sanctioned by the U.S. government, while companies linked to investor Carl Icahn climbed after the billionaire was named as a future adviser to President-elect Donald Trump.

Quincy Krosby, a markets strategist for Prudential Financial, said investors were concerned about the weak earnings for Bed Bath & Beyond and about the jump in interest rates since the election.

"When you have interest rates rising, at least initially, it tends to take a little bit from the discretionary (companies) because credit card payments move higher," she said.

The Dow Jones industrial average shed 23.08 points, or 0.1 percent, to 19,918.88. The Standard & Poor's 500 index lost 4.22 points, or 0.2 percent, to 2,260.96. The Nasdaq composite dipped 24.01 points, or 0.4 percent, to 5,447.42. The Russell 2000 index of small-company stocks sank 12.53 points, or 0.9 percent, to 1,362.66.

With the year-end holidays approaching, trading remained light.

A second day of losses pulled the Dow further from the 20,000 mark. It first reached 19,000 a month ago.

After it reported a far smaller profit and weaker sales than analysts expected, Bed Bath & Beyond dropped $4.18, or 9.2 percent, to $41.38. That wiped out most of the gains the company has made during the post-election rally. The SPDR S&P 500 retail ETF lost 3.5 percent.

Alibaba fell after the U.S. government put the Chinese e-commerce company back on a list of marketplaces that sell large amounts of counterfeit goods and is slow to respond when companies complain about knockoffs. Chinese regulators have made similar criticisms. Alibaba's U.S.-listed stock lost $2.45, or 2.7 percent, to $86.80.

Several companies linked to Carl Icahn surged after the billionaire investor was named as an adviser to Trump on regulatory reform issues. Icahn says he wants to cut business regulations. He is close to Trump and advised him during the presidential campaign, and that's given some of his companies a large boost.

Icahn Enterprises rose $4.38, or 7.6 percent, to $62.30 and refining company CVR Energy added $2.25, or 10.5 percent, to $23.69. Icahn owns 82 percent of the voting power in CVR Energy. Icahn Enterprises has climbed 30 percent since the presidential election, and CVR Energy has climbed 85 percent.

Open-source software company Red Hat sank after it reported disappointing revenue in the third quarter. Its fourth-quarter sales projections were also lower than analysts expected. Red Hat lost $11.08, or 13.9 percent, to $68.71, its biggest one-day loss in 10 years. Other technology companies like Facebook and Yahoo also fell.

Teva Pharmaceutical Industries, the world's largest generic drug maker, rose after it agreed to settle an investigation into possible bribes paid to foreign governments. The Israeli company will pay $519 million and its Russian business will plead guilty to criminal charges. The inquiry also involved Teva's businesses in Ukraine and Mexico. Teva said it replaced the leadership of its Russian division after the investigation began.

The stock added 54 cents, or 1.5 percent, to $36.91. Teva said in October that it was setting aside $520 million for a possible settlement, and investors are often pleased when companies settle investigations because the deals remove uncertainty and help the companies put their problems behind them.

Chocolate maker Hershey rose after it named Michele Buck as its next president and CEO. She is currently Hershey's chief operating officer. Hershey stock added $1.27, or 1.2 percent, to $104.44.

Benchmark U.S. crude gained 46 cents to $52.95 a barrel in New York and Brent crude, the international standard, rose 59 cents, or 1.1 percent, to $55.05 a barrel in London. That sent energy companies higher.

In other energy trading, wholesale gasoline remained at $1.60 a gallon. Heating oil added 2 cents to $1.66 a gallon. Natural gas stayed at $3.54 per 1,000 cubic feet.

Bond prices fell. The yield on the 10-year Treasury note climbed to 2.55 percent from 2.54 percent.

Gold fell $2.50 to $1,130.70 an ounce and continued to trade around its lowest price since the beginning of February. Silver lost 11 cents to $15.87 an ounce. Copper held steady at $2.50 a pound.

The dollar inched up to 117.60 yen from 117.54 yen. The euro rose to $1.0433 from $1.0427.

Stocks in Europe were also quiet. The DAX in Germany lost 0.1 percent and Britain's FTSE 100 added 0.3 percent. In France, the CAC-40 was little changed. Japan's Nikkei 225 index edged 0.1 percent lower and the Hang Seng in Hong Kong lost 0.8 percent. The South Korean Kospi fell 0.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com

 *The NYSE DOW closed  HIGHER ▲ 14.9 points or ▲ Friday on December 24 2016*
* Symbol …........Last …......Change....... *  
 Dow_Jones 19,933.81 ▲ 14.93 ▲ 0.07% 
 Nasdaq____ 5,462.69 ▲ 15.27 ▲ 0.28% 
 S&P_500___ 2,263.79 ▲ 2.83 ▲ 0.13% 
 30_Yr_Bond____ 3.12 ▼ -0.01 ▼ -0.45% 


NYSE Volume          2,020,709,880           
Nasdaq Volume          1,075,653,620

 *Europe ** 
 Symbol... .....Last ….....Change....... * 
 FTSE_100 7,068.17 ▲ 4.49 ▲ 0.06% 
 DAX_____ 11,449.93 ▼ -6.17 ▼ -0.05% 
 CAC_40__ 4,839.68 ▲ 5.05 ▲ 0.10% 

 *Asia Pacific *
* Symbol...... ….......Last .....Change…...... *
 ASX_All_Ord___ 5,675.10 ▼ -16.70 ▼ -0.29% 
 Shanghai_Comp 3,110.15 ▼ -29.40 ▼ -0.94% 
 Taiwan_Weight 9,078.64 ▼ -40.11 ▼ -0.44% 
 Nikkei_225___ 19,427.67 ▼ -16.82 ▼ -0.09% 
 Hang_Seng.__ 21,574.76 ▼ -61.44 ▼ -0.28% 
 Strait_Times.__ 2,871.05 ▼ -10.99 ▼ -0.38% 
 NZX_50_Index_ 6,876.99 ▲ 25.12 ▲ 0.37% 

http://finance.yahoo.com/news/us-stocks-move-slightly-higher-151503465.html

*US stocks inch higher in slow pre-holiday trading*




MARLEY JAY

NEW YORK (AP) — Wall Street traders sometimes root for year-end "Santa Claus rallies," but on Friday, hardly a creature was stirring as stocks finished slightly higher on the quietest full day of trading in more than a year. Health care companies brought in most of the gains.

Major U.S. indexes stayed in a narrow range throughout the day. Drugmakers and other companies in health care did the best, while retailers continued to take small losses just before the holiday. Energy companies also slipped, and they took their first weekly loss since the beginning of November. The Dow Jones industrial average, however, rose for the seventh week in a row.

Defense contractor Lockheed Martin fell after President-elect Donald Trump again tweeted that the company's F-35 fighter jet costs too much. The stock is down almost 6 percent this month.

"This is a negotiating tactic," said Josh Sullivan, a Seaport Global analyst who covers aerospace and defense companies. "You're seeing the negative portion of the negotiation in public where privately they may be more constructive."

The Dow Jones industrial average picked up 14.93 points, or 0.1 percent, to 19,933.81. The Standard & Poor's 500 index gained 2.83 points, or 0.1 percent, to 2,263.79. The Nasdaq composite rose 15.27 points, or 0.3 percent, to 5,462.69.

Small-company stocks did far better, as the Russell 2000 climbed 8.85 points, or 0.6 percent, to 1,371.51.

Fewer than 2 billion shares changed hands on the New York Stock Exchange. That's barely half the volume of an average day. The last full trading day with that little activity was in October 2015.

Lockheed Martin fell after Trump said on Twitter that Lockheed's F-35 fighter jet costs too much and that he has asked Boeing to "price-out" a comparable F-18 jet. Trump complained earlier this month about the costs of the F-35, which brought in about 20 percent of Lockheed's revenue last year. Lockheed gave up $3.21, or 1.3 percent, to $249.59.

This month Trump also criticized Boeing for the cost of the next Air Force One. The presidential jet is far less significant for Boeing than the F-35 is for Lockheed, however, and Boeing shares were only briefly affected.

Sullivan, of Seaport, said Trump's tweets are a new type of bad publicity for defense companies. But even if the President-elect periodically criticizes the companies in public, investors are still optimistic about their prospects under his administration. If Trump builds up the U.S. nuclear arsenal, as he proposed doing in a tweet Thursday, that would also involve more military spending.

"Ultimately (Trump) ran on a strong defense spending platform," he said. Defense stocks have done better than the rest of the market overall since the election.

So far, investor optimism that Trump's spending plans could boost economic growth is outweighing any concerns about his trade proposals, brash style and Twitter pronouncements, which have moved company stocks at times. That may change when he's in office and can more easily back up his comments with executive actions and policy shifts.

Drug companies made small gains on Friday. Botox maker Allergan rose $5.09, or 2.6 percent, to $199.08. Bristol-Myers Squibb picked up 85 cents, or 1.4 percent, to $59.61 and health insurer Aetna added $1.26, or 1 percent, to $125.95.

Cintas, a uniform rental company, slipped after its second-quarter profit fell short of Wall Street's forecasts. Analysts said its first-aid business, which sells products like first-aid kits, eyewash stations and emergency cabinets, had a disappointing quarter. The stock lost $3.73, or 3.1 percent, to $116.36.

Benchmark U.S. crude added 7 cents to close at $53.02 a barrel in New York. Brent crude, the international standard, rose 11 cents to close at $55.16 a barrel in London.

In other energy trading, natural gas prices continued to climb as investors anticipated that colder weather will lead to more demand for home heating. Natural gas futures rose 12 cents, or 3.5 percent, to $3.66 per 1,000 cubic feet. Wholesale gasoline added 2 cents to $1.63 a gallon and heating oil stood still at $2.48 a gallon.

The dollar slid to 117.26 yen from 117.60 yen. The euro rose to $1.0452 from $1.0433.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.54 percent from 2.55 percent.

The price of gold rose $2.90 to $1,133.60 an ounce. Silver lost 11 cents to $15.76 an ounce. Copper gave up 2 cents to $2.48 a pound.

Britain's FTSE 100 and the CAC-40 in France both rose 0.1 percent. In Germany, the DAX lost 0.1 percent. The Hang Seng of Hong Kong retreated 0.3 percent and the Kospi in South Korea finished slightly lower. Japanese markets were closed for a holiday.

9585


----------



## bigdog

Source: http://finance.yahoo.com . . . . . . .
. . . . . . . .
*The NYSE DOW closed HIGHER ▲ 11.2 points or ▲ 0.06% on Tuesday, December 27, 2016 
Symbol …........Last …......Change....... .. * . . . .
Dow_Jones 19,945.04 ▲ 11.23 ▲ 0.06% .
Nasdaq____ 5,487.44 ▲ 24.75 ▲ 0.45% .
S&P_500___ 2,268.88 ▲ 5.09 ▲ 0.22% .
30_Yr_Bond____ 3.14 ▲ 0.02 ▲ 0.74% .
. . . . . . . . .
NYSE Volume 1,986,588,750 . . . . . . .
Nasdaq Volume 1,176,778,250 . . . . . . .
. . . . . . . . .
*Europe . . . . . . 
Symbol... .....Last ….....Change....... .. *
.
FTSE_100 7,068.17 ▲ 4.49 ▲ 0.06% Holiday
DAX_____ 11,472.24 ▲ 22.31 ▲ 0.19% .
CAC_40__ 4,848.28 ▲ 8.60 ▲ 0.18% .
. . . . . . . . .
*Asia Pacific . . . . . . 
Symbol...... ….......Last .....Change…...... *
. . .
ASX_All_Ord___ 5,675.10 ▼ -16.70 ▼ -0.29% Holiday
Shanghai_Comp 3,114.66 ▼ -7.91 ▼ -0.25% .
Taiwan_Weight 9,109.27 ▼ -1.27 ▼ -0.01% .
Nikkei_225___ 19,403.06 ▲ 6.42 ▲ 0.03% .
Hang_Seng.__ 21,574.76 ▼ -61.44 ▼ -0.28% Holiday
Strait_Times.__ 2,885.76 ▲ 14.71 ▲ 0.51% .
NZX_50_Index_ 6,873.60 ▼ -3.39 ▼ -0.05% .
. . . . . . . . .

http://finance.yahoo.com/news/us-stock-indexes-edges-higher-151221807.html

*US stocks close higher as Nasdaq hits record high, oil rises*





ALEX VEIGA

A day of quiet trading on Wall Street ended Tuesday with the Dow Jones industrial average inching closer to 20,000 and a record high for the Nasdaq composite.

Materials and technology companies led U.S. stocks slightly higher overall. Energy companies also rose as the price of crude oil moved higher. Utilities and phone company stocks edged lower.

Trading was light following the long holiday weekend, with less than 1.9 billion shares traded on the New York Stock Exchange. That's the lightest full day of trading since October 2015.

"Markets are moving toward 20,000 and bond yields are up; there's a little bit of buoyancy in oil prices," said Erik Davidson, chief investment officer at Wells Fargo Private Bank. "(But) trading is very, very thin."

The Dow added 11.23 points, or 0.1 percent, to 19,945.04. The Standard & Poor's 500 index gained 5.09 points, or 0.2 percent, to 2,268.88. The Nasdaq rose 24.75 points, or 0.5 percent, to 5,487.44. The tech-heavy index's previous record high was 5,483 on Dec. 20.

The three major indexes are on pace for solid gains for 2016, led by the Dow, which is up 14.5 percent. The S&P 500 is on track for an 11 percent gain, while the Nasdaq is headed for a 9.6 percent gain. Small-company stocks are up even more. The Russell 2000 is up 21 percent so far this year.

While little new major economic or company data is expected this week as 2016 winds to a close, investors did get some fresh figures on consumer confidence and home prices Tuesday.

The Conference Board said its consumer confidence index climbed to 113.7 in December, up from 109.4 in November and the highest since it reached 114 in August 2001. The latest reading is another sign consumers are confident in the aftermath of a divisive election campaign.

Meanwhile, the Standard & Poor's CoreLogic Case-Shiller national home price index rose 5.6 percent in October, as buyers bidding for scarce properties drove home prices higher.

"The tone to the data was certainly positive and speaks to underscore why we'd have a little bit of a bid to the market this afternoon," said Bill Northey, chief investment officer of the Private Client Group at U.S. Bank.

Several homebuilders posted gains following the reports on home prices and consumer confidence, which bode well for home sales. Lennar led the pack, gaining 80 cents, or 1.9 percent, to $43.36. D.R. Horton added 37 cents, or 1.3 percent, to $27.93. PulteGroup rose 24 cents, or 1.3 percent, to $18.62.

Nvidia posted the biggest gain in the S&P 500 index. The chipmaker surged $7.54, or 6.9 percent, to $117.32.

Traders also gave a boost to other technology stocks, including Fitbit. The company climbed 7.4 percent after the fitness tracker's app became the second-most downloaded in the iTunes store. The stock added 54 cents to $7.83.

Some drug companies also made big moves.

Endologix plunged 26.7 percent after the drugmaker said that the Food and Drug Administration has ordered it to cease shipping a device used to treat abdominal aortic aneurysms because of manufacturing problems. The company said the problem only affects some sizes of its AFX Endovascular AAA system and that no clinical problems have been reported. Endologix shares lost $1.92 to $5.27.

Biogen rose 1.2 percent on news that the FDA approved a treatment for spinal muscular atrophy, a rare genetic disorder. The FDA approved the drug, Spinraza, late Friday. Biogen is handling marketing for the drug, which was developed by Ionis Pharmaceuticals. Biogen shares added $3.59 to $291.12. Ionis gained $1.71, or 3.2 percent, to $55.12.

Several markets overseas closed slightly higher.

In Europe, Germany's DAX rose 0.2 percent, while the CAC 40 of France closed 0.2 percent higher. Markets in Britain were closed for Boxing Day.

Earlier in Asia, Tokyo's Nikkei 225 was nearly flat. The Kospi of South Korea rose 0.2 percent, while India's Sensex added 0.8 percent. Markets in Hong Kong and Australia were also closed.

Benchmark U.S. crude rose 88 cents, or 1.7 percent, to close at $53.90 a barrel in New York. Brent crude, used to price international oils, gained 93 cents, or 1.7 percent, to close at $56.09 a barrel in London.

In other energy trading, natural gas futures rose 10 cents, or 2.7 percent, to $3.76 per 1,000 cubic feet. Wholesale gasoline added 3 cents to $1.65 a gallon and heating oil gained 4 cents to $1.70 a gallon.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.56 percent from 2.54 percent late Friday. Markets were closed Monday for the holiday.

In currency trading, the dollar rose to 117.45 yen from 117.26. The euro fell to $1.0458 from $1.0452.

Among metals, the price of gold rose $5.20 to $1,138.80 an ounce. Silver added 23 cents to $15.99 an ounce. Copper gained 4 cents to $2.52 a pound.


----------



## bigdog

Source: http://finance.yahoo.com . . . . . . . 
. . . . . . . . 
 *The NYSE DOW closed  LOWER ▼ -111 points or ▼ -0.56% on Wednesday, December 28, 2016 
Symbol …........Last …......Change....... .. * . . . . 
 Dow_Jones 19,833.68 ▼ -111.36 ▼ -0.56% . 
 Nasdaq____ 5,438.56 ▼ -48.89 ▼ -0.89% . 
 S&P_500___ 2,249.92 ▼ -18.96 ▼ -0.84% . 
 30_Yr_Bond____ 3.08 ▼ -0.06 ▼ -1.75% . 
. . . . . . . . .
NYSE Volume                               2,391,648,250 . . . . . . .
Nasdaq Volume                               1,268,099,250 . . . . . . .
. . . . . . . . .
 *Europe . . . . . . 
Symbol... .....Last ….....Change....... .. * 
    . 
 FTSE_100 7,106.08 ▲ 37.91 ▲ 0.54% . 
 DAX_____ 11,474.99 ▲ 2.75 ▲ 0.02% . 
 CAC_40__ 4,848.01 ▼ -0.27 ▼ -0.01% . 
. . . . . . . . .
 *Asia Pacific . . . . . . 
Symbol...... ….......Last .....Change…...... * 
. . . 
 ASX_All_Ord___ 5,732.40 ▲ 57.30 ▲ 1.01% . 
 Shanghai_Comp 3,102.24 ▼ -12.43 ▼ -0.40% . 
 Taiwan_Weight 9,201.40 ▲ 92.13 ▲ 1.01% . 
 Nikkei_225___ 19,401.72 ▼ -1.34 ▼ -0.01% . 
 Hang_Seng.__ 21,754.74 ▲ 179.98 ▲ 0.83% . 
 Strait_Times.__ 2,898.30 ▲ 12.54 ▲ 0.43% . 
 NZX_50_Index_ 6,875.79 ▼ -1.20 ▼ -0.02% . 
. . . . . . . . . 
http://finance.yahoo.com/news/us-stock-indexes-edge-lower-151421998.html

*US stock indexes fall as an afternoon slide accelerates*




ALEX VEIGA

Banks led a broad slide in U.S. stocks Wednesday that more than wiped out gains from the day before.

After an early upward turn, the stock market veered into the red by midmorning, the losses accelerating as the day wore on. Basic materials companies, industrials, utilities and energy stocks were among the biggest decliners.

Trading was light ahead of the New Year's Day holiday. Two stocks fell for every one that rose on the New York Stock Exchange.

"Volume is pretty weak, so there's no aggressive selling taking place," said Bob Doll, chief equity strategist at Nuveen Asset Management. "It's more sellers locking in some better gains than they thought they were going to get this year. It's been a really good year, so letting a little go is just fine."

The Dow Jones industrial average fell 111.36 points, or 0.6 percent, to 19,833.68. The Standard & Poor's 500 index lost 18.96 points, or 0.8 percent, to 2,249.92. The Nasdaq composite, which set a record high close the day before, slid 48.89 points, or 0.9 percent, to 5,438.56.

The three major indexes are on pace for a solid gain this year. The Dow is up 13.8 percent. The S&P 500 is on track for a 10 percent gain, while the Nasdaq is headed for an 8.6 percent gain. Small-company stocks are up even more. The Russell 2000 is up 19.8 percent so far this year.

In a week featuring a dearth of major economic or company data, investors got some insight into the U.S. housing market.

A report from the National Association of Realtors found that fewer Americans signed contracts to buy homes in November. The NAR said its seasonally adjusted pending home sales index fell 2.5 percent to 107.3 percent, the lowest reading since the start of this year.

The slowdown marks a reversal for the housing market, as sales growth has been solid for the past year. Homebuilder stocks closed mostly lower, with William Lyon Homes losing the most. It fell 64 cents, or 3.2 percent, to $19.33.

Nvidia was the biggest decliner in the S&P 500 index, sliding 6.9 percent after short seller Citron Research said it expects the chipmaker's shares, which have tripled in value this year, to fall substantially. The stock lost $8.07 to $109.25.

Shares in oil and natural gas drilling companies also declined.

Chesapeake Energy lost 36 cents, or 4.7 percent, to $7.23. Murphy Oil shed 78 cents, or 2.4 percent, to $32.03. Helmerich & Payne fell $1.57, or 2 percent, to $78.39.

Fred's dropped 4.8 percent on a published report indicating that the regional drugstore chain has adopted a "poison pill" to discourage an activist investor from interfering with the company's plan to buy 865 Rite Aid stores. Rite Aid has to sell the stores in order to appease anti-trust regulators and close its $9.4 billion buyout deal with Walgreens Boots Alliance. Shares in Fred's fell 95 cents to $18.68.

Qualcomm slipped 2.2 percent after antitrust regulators in South Korea fined the company $865 million, claiming the chipmaker engaged in unfair sales practices, including refusing to let competitors license patents that are essential for chipmaking. The stock lost $1.50 to $65.75.

Coach notched the biggest gain in the S&P 500 index, adding 70 cents, or 2 percent, to $35.14.

Markets overseas were mostly subdued.

In Europe, Germany's DAX and France's CAC 40 each ended essentially flat. Britain's FTSE 100 posted a record-high close of 7,106.08, a gain of 0.5 percent. In Asia, Japan's Nikkei 225 was flat. Australia's S&P ASX 200 gained 1 percent. Hong Kong's Hang Seng index gained 0.8 percent. South Korea's Kospi dropped 0.9 percent.

Benchmark U.S. crude rose 16 cents to close at $54.06 a barrel in New York. It rose 88 cents on Tuesday. Brent crude, used to price international oils, climbed 13 cents to close at $56.22 a barrel in London. It gained 93 cents the day before.

In other energy trading, wholesale gasoline added 2 cents to $1.67 a gallon and heating oil held steady at $1.70 a gallon. Natural gas futures rose 17 cents, or 4.5 percent, to $3.93 per 1,000 cubic feet.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.51 percent from 2.56 percent late Tuesday.

In currency trading, the dollar fell to 117.19 yen, down from 117.45 on Tuesday. The euro fell to $1.0407 from $1.0458.

Among metals, the price of gold rose $2.10 to $1,140.90 an ounce. Silver added 5 cents to $16.04 an ounce. Copper fell 2 cents to $2.50 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -14 points or ▼ -0.07% on Thursday, December 29, 2016 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,819.78 ▼ -13.90 ▼ -0.07% . 
 Nasdaq____ 5,432.09 ▼ -6.47 ▼ -0.12% . 
 S&P_500___ 2,249.26 ▼ -0.66 ▼ -0.03% . 
 30_Yr_Bond____ 3.08 ▲ 0.00 ▲ 0.00%   

NYSE Volume           2,327,074,000              
Nasdaq Volume           1,212,524,880              

 *Europe             
Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,120.26 ▲ 14.18 ▲ 0.20% . 
 DAX_____ 11,451.05 ▼ -23.94 ▼ -0.21% . 
 CAC_40__ 4,838.47 ▼ -9.54 ▼ -0.20% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,746.70 ▲ 14.30 ▲ 0.25% . 
 Shanghai_Comp 3,096.10 ▼ -6.14 ▼ -0.20% . 
 Taiwan_Weight 9,153.09 ▼ -48.31 ▼ -0.53% . 
 Nikkei_225___ 19,145.14 ▼ -256.58 ▼ -1.32% . 
 Hang_Seng.__ 21,790.91 ▲ 36.17 ▲ 0.17% . 
 Strait_Times.__ 2,889.15 ▼ -9.15 ▼ -0.32% . 
 NZX_50_Index_ 6,892.28 ▲ 16.49 ▲ 0.24% .  

http://finance.yahoo.com/news/us-stocks-indexes-edge-higher-151600524.html

*Major US stock indexes close slightly lower; oil price slips*




Alex Veiga, AP Business Writer

A day of quiet trading on Wall Street ended Thursday with major U.S. stock indexes posting slight losses for the second day in a row.

Banks and energy companies led the slide, while high-dividend stocks like utilities, real estate investment trusts and phone companies rose as bond yields fell. The price of U.S. crude oil closed lower.

Small-company stocks fared better than the rest of the market, nudging the Russell 2000 slightly higher.

Trading was light ahead of the New Year's Day holiday.

"The market is just taking a breather here," said Jeff Zipper, managing director of investments for The Private Client Reserve of U.S. Bank. "We moved so much in the month of November, there may be some profit-taking, maybe positioning for the first quarter."

The Dow Jones industrial average fell 13.90 points, or 0.1 percent, to 19,819.78. The Standard & Poor's 500 index slipped 0.66 points, or 0.03 percent, to 2,249.26 The Nasdaq composite lost 6.47 points, or 0.1 percent, to 5,432.09.

The Russell 2000, which tracks small companies, added 2.35, or 0.2 percent, at 1,363.18.

The major stock market indexes eked out small gains in early trading Thursday. But by midmorning, they drifted mostly lower and remained in the red the rest of the day.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.47 percent from 2.51 percent late Wednesday.

More stocks rose than fell on the New York Stock Exchange.

Sears jumped 10 percent after the struggling retailer said it had secured a new line of credit. The stock added 82 cents to $9.

Newmont Mining climbed 7.6 percent, the biggest gainer in the S&P 500 index. The stock added $2.49 to $35.27.

Investors got some favorable economic data from the Labor Department, which reported that fewer Americans applied for unemployment benefits last week, continuing a nearly two-year trend that suggests a solid job market. Weekly requests for jobless aid fell 10,000 to a seasonally adjusted 265,000. Over the past year, the number of people collecting benefits has fallen almost 5 percent to 2.1 million.

Benchmark U.S. crude fell 29 cents to close at $53.77 a barrel in New York. Brent crude, used to price international oils, slipped 8 cents to close at $56.14 a barrel in London.

Markets overseas were mixed. Germany's DAX fell 0.2 percent, while France's CAC 40 closed 0.2 percent lower. Britain's FTSE 100 ended the day with its second record-close in two days, trading 0.2 percent higher at 7,120.26 points.

British stocks have benefited from a decline in the value of the pound against other world currencies, which tends to drive up earnings for the multinationals and energy companies that dominate the index.

Earlier in Asia, Japan's benchmark Nikkei 225 slipped 1.3 percent, while South Korea's Kospi inched up 0.1 percent. Hong Kong's Hang Seng rose 0.2 percent.

In other energy trading, wholesale gasoline added a penny to $1.68 a gallon and heating oil held steady at $1.70 a gallon. Natural gas futures fell 10 cents, or 2.5 percent, to $3.80 per 1,000 cubic feet.

The price of gold rose $17.20, or 1.5 percent, to $1,158.10 an ounce. Silver added 18 cents to $16.22 an ounce. Copper fell a penny to $2.49 a pound.

In currency trading, the dollar fell to 116.65 yen from 117.19 yen late Wednesday. The euro fell to $1.0485 from $1.0407.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -57 points or ▼ -0.29% on Friday, December 30, 2016 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,762.60 ▼ -57.18 ▼ -0.29% 0 
 Nasdaq____ 5,383.12 ▼ -48.97 ▼ -0.90% 0 
 S&P_500___ 2,238.83 ▼ -10.43 ▼ -0.46% 0 
 30_Yr_Bond____ 3.06 ▼ -0.02 ▼ -0.68%   

NYSE Volume           2,669,794,250              
Nasdaq Volume           1,452,335,880              

 *Europe             
Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,142.83 ▲ 22.57 ▲ 0.32% 0 
 DAX_____ 11,481.06 ▲ 30.01 ▲ 0.26% 0 
 CAC_40__ 4,862.31 ▲ 23.84 ▲ 0.49% 0 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,719.10 ▼ -27.60 ▼ -0.48% 0 
 Shanghai_Comp 3,103.64 ▲ 7.54 ▲ 0.24% 0 
 Taiwan_Weight 9,253.50 ▲ 100.41 ▲ 1.10% 0 
 Nikkei_225___ 19,114.37 ▼ -30.77 ▼ -0.16% 0 
 Hang_Seng.__ 22,000.56 ▲ 209.65 ▲ 0.96% 0 
 Strait_Times.__ 2,880.76 ▼ -8.39 ▼ -0.29% 0 
 NZX_50_Index_ 6,881.22 ▼ -11.06 ▼ -0.16% 0  

http://finance.yahoo.com/news/us-stocks-edge-lower-early-152125235.html

*US stocks end modestly lower on final trading day of 2016*




Alex Veiga, AP Business Writer

Investors capped a year of solid gains on Wall Street Friday in a selling mood, sending the major U.S. stock indexes modestly lower on the final trading day of 2016.

Technology and consumer-focused stocks led the broad slide, while real estate companies and banks eked out small gains. As it had been for much of the week, trading was subdued ahead of the New Year's Day holiday.

Despite riding out the last week of the year with losses, halting the Dow Jones industrial average's momentum as it neared the 20,000 mark, 2016 delivered a much better finish for stock investors than most would have anticipated.

All told, the Dow ended the year with a 13.4 percent gain, while the Nasdaq composite gained 7.5 percent.

The Standard & Poor's 500 index, the broadest measure of the stock market, gained 9.5 percent after an essentially flat finish in 2015. Including dividends, the total return was 12.5 percent as of Thursday's close.

Small-company stocks fared the best, especially since the election. The Russell 2000 index closed out 2016 with a gain of 19.5 percent.

"This was not just a market that did well, it did extremely well," said Quincy Krosby, market strategist at Prudential Financial.

The stock market weathered repeated slumps in 2016, including the worst start to any year for stocks, the second correction for the market in five months and plummeting oil prices. A steadily improving U.S. economy and job market, as well as more stable oil prices and better company earnings growth helped turn the market around. More recently, investor optimism following the Republican election sweep in November kicked off a rally that sent the market to new heights.

Some of that enthusiasm evaporated in the final week of the year, as traders seized on the quiet period between the Christmas and New Year's holidays to do some selling to lock in profits.

"So many times we look for a rally at the end of the year, particularly between Christmas and New Year's," said J.J. Kinahan, TD Ameritrade's chief strategist. "But with the incredible up move we've had since the election, people are either hesitant to buy things heading into the new year or are taking a little bit of profit."

On Friday, the Dow slid 57.18 points, or 0.3 percent, to 19,762.60. The S&P 500 index fell 10.43 points, or 0.5 percent, to 2,238.83. The Nasdaq composite gave up 48.97 points, or 0.9 percent, to 5,383.12.

The Russell 2000 lost 6.05 points, or 0.4 percent, to 1,357.13.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.44 percent from 2.48 percent late Thursday.

Global stocks mostly rose on the year's last day of trading.

Britain's index rallied to hit another all-time high. The FTSE 100, which was trading for only a half day, rose 0.3 percent. That left the index 14.4 percent higher over 2016.

Elsewhere in Europe, Germany's DAX rose 0.3 percent, while France's CAC 40 gained 0.5 percent. Earlier in Asia, Japan's Nikkei 225 fell 0.2 percent, while Hong Kong's Hang Seng index rose 1 percent.

Benchmark U.S. crude fell 5 cents to close at $53.72 a barrel in New York. That translates into a 45 percent gain for the year. Brent crude, used to price international oils, slipped 3 cents to close at $56.82 a barrel in London.

In other energy trading, wholesale gasoline dropped 2 cents to $1.67 a gallon and heating oil held steady at $1.70 a gallon. Natural gas futures fell 7.8 cents, or 2.1 percent, to $3.72 per 1,000 cubic feet.

The price of gold fell $6.40 to $1,151.70 an ounce. Silver slid 23 cents to $15.99 an ounce. Copper rose 2 cents to $2.51 a pound.

In currency trading, the dollar strengthened to 116.78 yen from 116.65 yen late Thursday. The euro rose to $1.0531 from $1.0485.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 119 points or ▲ 0.60% on Tuesday, January 3, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,881.76 ▲ 119.16 ▲ 0.60%  
 Nasdaq____ 5,429.08 ▲ 45.97 ▲ 0.85%  
 S&P_500___ 2,257.83 ▲ 19.00 ▲ 0.85%  
 30_Yr_Bond____ 3.05 ▼ -0.02 ▼ -0.52%   

NYSE Volume           3,743,056,250            
Nasdaq Volume           1,825,700,380            

 *Europe             *
* Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,177.89 ▲ 35.06 ▲ 0.49%  
 DAX_____ 11,584.24 ▼ -14.09 ▼ -0.12%  
 CAC_40__ 4,899.33 ▲ 16.95 ▲ 0.35%  

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,784.60 ▲ 65.50 ▲ 1.15%  
 Shanghai_Comp 3,135.92 ▲ 32.28 ▲ 1.04%  
 Taiwan_Weight 9,272.88 ▲ 19.38 ▲ 0.21%  
 Nikkei_225___ 19,114.37 ▼ -30.77 ▼ -0.16%  HOLIDAY  
 Hang_Seng.__ 22,150.40 ▲ 149.84 ▲ 0.68%  
 Strait_Times.__ 2,898.97 ▲ 18.21 ▲ 0.63%  
 NZX_50_Index_ 6,881.22 ▼ -11.06 ▼ -0.16%  

http://finance.yahoo.com/news/us-stocks-ring-2017-gains-150731388.html

*Health care rises as US indexes ring in new year with gains*




MARLEY JAY

NEW YORK (AP) — U.S. stocks broke a three-day losing streak Tuesday and ushered in the new year with broad gains. Health care stocks, which struggled for most of last year, climbed.

Stocks started the day with a surge as the Dow Jones industrial average rose 175 points in the first hour of trading. Bond yields jumped, which took bank stocks higher. The price of oil also rose early on, but it began slipping after 10 a.m. Investors started buying again late in the day, however, and major indexes closed with a flourish.

Energy companies, banks and technology companies made some of the largest gains and lower-risk investments like utility companies lagged the rest of the market. That's a sign investors expect stronger economic growth that will help those companies do more business.

"Corporate earnings are telling us that it's a bull market," said Karyn Cavanaugh of Voya Investment Strategies. Cavanaugh said earnings and revenues look "very good" for 2017.

The Dow Jones industrial average jumped 119.16 points, or 0.6 percent, to 19,881.76. The Standard & Poor's 500 index rose 19 points, or 0.8 percent, to 2,257.83. The Nasdaq composite gained 45.97 points, or 0.9 percent, to 5,429.08.

The Russell 2000 index, which tracks small-company stocks, added 8.36 points, or 0.6 percent, to 1,365.49. The Russell rose almost 20 percent last year and did far better than indexes focused on larger companies.

Drug companies helped take health care stocks higher. Merck rose $1.28, or 2.2 percent, to $60.15. Biotech giant Amgen picked up $4.52, or 3.1 percent, to $150.73 and prescription drug distributor McKesson gained $6.98, or 5 percent, to $147.43.

The S&P 500's health care index fell 4 percent last year. The S&P 500 itself rose 9.5 percent for the year and all of its other industrial sectors rose at least a small amount.

Investors have been avoiding drug company stocks because they're worried the government will intervene to reduce prices. But Cavanaugh said the stocks are appealing because they've been reporting better growth than most other industries.

"If you look at earnings and revenues, they're one of the leaders," she said.

Xerox surged $1.14, or 19.8 percent, to $6.89 after it split itself in two, a move the company announced almost a year ago. The original Xerox kept its printer and copier business. The second company will focus on business process outsourcing, providing payment processing and other services. Xerox will receive $1.8 billion in cash.

The new company, Conduent, now trades under the ticker symbol "CNDT." That stock lost $1.18, or 7.9 percent, to $13.72.

Oil prices jumped in early trading but turned around to finish lower. U.S. crude gave up $1.39, or 2.6 percent, to $52.33 a barrel in New York. Brent crude, used to price international oils, skidded $1.35, or 2.4 percent, to $55.47 a barrel in London.

Despite that slump, energy companies traded higher. But natural gas companies dropped as natural gas futures dropped 40 cents, or 10.7 percent, to $3.33 per 1,000 cubic feet. Southwestern Energy lost 85 cents, or 7.9 percent, to $9.97 and Cabot Oil & Gas gave up $1.02, or 4.4 percent, to $22.34.

The manufacturing sector continued to recover and ended 2016 on a strong note. The Institute for Supply Management said its manufacturing index rose to 54.7 in December, its highest reading of the year. That was the fourth straight month of expansion and the ninth out of the last 10. The result was a bit stronger than analysts expected.

Graphics processor maker Nvidia couldn't break out of a recent slump. The stock more than tripled in value last year, but hit a wall in the final days of trading. The stock slid $4.73, or 4.4 percent, to $102.01. It's down 13 percent since Dec. 27, when it closed at an all-time high.

Bond prices fell slightly. The yield on the 10-year Treasury note rose to 2.45 percent from 2.43 percent late Friday. Yields made a much bigger move earlier in the day.

Utility companies fell Tuesday, and real estate investment trusts and companies that sell household goods rose less than the rest of the market. Those stocks are often compared to bonds because they pay large dividends, but the jump in yields Tuesday encouraged investors to look elsewhere.

The price of gold jumped $10.30 to $1,162 an ounce. Silver climbed 42 cents, or 2.6 percent, to $16.41 an ounce. Copper slipped 2 cents to $2.49 a pound.

In other energy trading, wholesale gasoline fell 5 cents, or 2.9 percent, to $1.62 a gallon. Heating oil lost 5 cents, or 3 percent, to $1.68 a gallon.

The dollar jumped to 117.68 yen from 116.78 yen. The euro slumped to $1.0410 from $1.0531.

The FTSE 100 index in Britain rose 0.5 percent to another all-time high. The French CAC 40 added 0.3 percent. Germany's DAX slipped 0.1 percent. Hong Kong's Hang Seng index gained 0.7 percent and the Kospi in South Korea rose 0.9 percent. Tokyo's stock market remained closed for the New Year's holiday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 60.4 points or ▲ 0.30% on Wednesday, January 4, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,942.16 ▲ 60.40 ▲ 0.30% . 
 Nasdaq____ 5,477.00 ▲ 47.92 ▲ 0.88% . 
 S&P_500___ 2,270.75 ▲ 12.92 ▲ 0.57% . 
 30_Yr_Bond____ 3.05 ▼ 0.00 ▼ -0.07%   

NYSE Volume           3,761,933,000              
Nasdaq Volume           1,782,657,250              

 *Europe             
Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,189.74 ▲ 11.85 ▲ 0.17% . 
 DAX_____ 11,584.31 ▲ 0.07 ▲ 0.00% . 
 CAC_40__ 4,899.40 ▲ 0.07 ▲ 0.00% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,788.20 ▲ 3.60 ▲ 0.06% . 
 Shanghai_Comp 3,158.79 ▲ 22.87 ▲ 0.73% . 
 Taiwan_Weight 9,286.96 ▲ 14.08 ▲ 0.15% . 
 Nikkei_225___ 19,594.16 ▲ 479.79 ▲ 2.51% . 
 Hang_Seng.__ 22,134.47 ▼ -15.93 ▼ -0.07% . 
 Strait_Times.__ 2,921.31 ▲ 22.34 ▲ 0.77% . 
 NZX_50_Index_ 6,974.30 ▲ 93.08 ▲ 1.35% . 

http://finance.yahoo.com/news/us-stocks-rise-auto-makers-150849360.html

*Stock indexes near records as car makers and retailers rise *
By MARLEY JAY

NEW YORK
U.S. stocks climbed Wednesday as investors bought shares of companies focused on consumers, including automakers and retailers. The Standard & Poor's 500 index finished a single point below its all-time high.

General Motors and Ford jumped as car companies reported generally strong sales for the month of December. Companies that mine for metals and make chemicals and other materials climbed as the dollar receded a bit from its recent highs. Small-company stocks picked up where they left off in 2017 as the Russell 2000 index outpaced other major indexes and missed a record close by a whisker.

Investors snapped up consumer-focused stocks that haven't done much celebrating since the election, like apparel and accessories retailers and discount store chains. Urban Outfitters is down about 11 percent the election and Gap has fallen almost that much.

"They were afterthoughts in a lot of respects," said Julian Emanuel, an equity strategist for UBS. But Emanuel said he expects those stocks to rise this year because consumer confidence remains high.

The Dow Jones industrial average added 60.40 points, or 0.3 percent, to 19,942.16. The blue-chip index was held back by small losses from energy giant Exxon Mobil and insurer Travelers.

The S&P 500 jumped 12.92 points, or 0.6 percent, to 2,270.75. The Nasdaq composite rose 47.92 points, or 0.9 percent, to 5,477. The Russell 2000 outpaced the other indexes and advanced 22.46 points, or 1.6 percent, to 1,387.95.

Companies that sell clothes, jewelry, athletic gear and discount goods have fallen or lagged behind the market over the last two months. That changed a bit on Wednesday. Gap rose 72 cents, or 3.1 percent, to $24.20. Discount retailer Dollar Tree, which has slumped since late November, picked up $2, or 2.6 percent, to $79.45.

Under Armour added 81 cents, or 3.1 percent, to $26.57 and auto parts supplier Delphi Automotive gained $2.50, or 3.7 percent, to $70.04. Delphi said Wednesday it bought Movimento, an automotive software company.

General Motors said its total U.S. sales climbed 10 percent last month from a year ago and its stock rose $1.94, or 5.5 percent, to $37.09. Ford climbed 58 cents, or 4.6 percent, to $13.17. That came as U.S. vehicle sales set records for the seventh year in a row. Sales are expected to slip in 2017.

Companies that mine for metals and make basic materials rose as the dollar slipped away from recent highs.

Freeport-McMoRan climbed $1.05, or 7.6 percent, to $14.83 as the price of copper jumped. Other materials makers also rose. Chemicals maker LyondellBassell Industries added $1.91, or 2.2 percent, to $88.79 and Mosaic picked up $1.28, or 4.3 percent, to $30.81.

The dollar slipped to 117.60 yen from 117.68 yen. The euro edged up to $1.0467 from $1.0410.

Rental car company Hertz climbed $1.11, or 4.9 percent, to $23.63 after investor Gamco Asset Management increased its stake in the company to 5.1 percent. A number of other activist investors own stock in Hertz. The largest by far is billionaire Carl Icahn, who holds a 35 percent stake.

Shake Shack rose $2.77, or 7.7 percent, to $38.90. The company will be added to the S&P SmallCap 600 index after the close of trading Wednesday. When a company is added to a major stock index it typically trades higher as it's added to various portfolios. The burger chain replaced Chemours, a former unit of DuPont, which became part of the S&P 500.

Oil prices bounced back from early losses. Benchmark U.S. crude picked up 93 cents, or 1.8 percent, to $53.26 a barrel in New York. Brent crude, used to price international oils, gained 99 cents, or 1.8 percent, to $56.46 a barrel in London. The price of natural gas fell another 1.8 percent, to $3.33 per 1,000 cubic feet, after a drop of almost 11 percent Tuesday.

Bond prices inched higher. The yield on the 10-year Treasury note fell to 2.44 percent from 2.45 percent.

In other energy trading, wholesale gasoline rose 2 cent to $1.65 a gallon. Heating oil edged up 2 cents to $1.69 a gallon.

Gold picked up $3.30 to $1,165.30 an ounce and silver added 14 cents to $16.55 an ounce. Copper closed up 7 cents, or 2.7 percent, at $2.56 a pound.

France's CAC 40 and the DAX in Germany both finished little changed. The FTSE 100 of Britain rose 0.2 percent to set another all-time high. Japan's benchmark Nikkei 225 added 2.5 percent in its first trading day of 2017. That was partly because the weak yen will help Japanese exporters like Honda. South Korea's Kospi gained nearly 0.1 percent and Hong Kong's Hang Seng dipped 0.1 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -43 points or ▼ -0.21% on Thursday, January 5, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,899.29 ▼ -42.87 ▼ -0.21% . 
 Nasdaq____ 5,487.94 ▲ 10.93 ▲ 0.20% . 
 S&P_500___ 2,269.00 ▼ -1.75 ▼ -0.08% . 
 30_Yr_Bond____ 2.96 ▼ -0.08 ▼ -2.73%   

NYSE Volume           3,757,778,750              
Nasdaq Volume           1,692,089,000              

 *Europe             
Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,195.31 ▲ 5.57 ▲ 0.08% . 
 DAX_____ 11,584.94 ▲ 0.63 ▲ 0.01% . 
 CAC_40__ 4,900.64 ▲ 1.24 ▲ 0.03% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,805.10 ▲ 16.90 ▲ 0.29% . 
 Shanghai_Comp 3,165.41 ▲ 6.62 ▲ 0.21% . 
 Taiwan_Weight 9,358.14 ▲ 71.18 ▲ 0.77% . 
 Nikkei_225___ 19,520.69 ▼ -73.47 ▼ -0.37% . 
 Hang_Seng.__ 22,456.69 ▲ 322.22 ▲ 1.46% . 
 Strait_Times.__ 2,954.14 ▲ 32.83 ▲ 1.12% . 
 NZX_50_Index_ 6,975.60 ▲ 1.30 ▲ 0.02% .  

http://finance.yahoo.com/news/us-indexes-drift-early-trade-151206636.html

*US stocks mostly slip as banks fall and retailers plunge*




Marley Jay, AP Markets Writer

NEW YORK (AP) -- Stocks slipped Thursday as interest rates dropped and banks took sharp losses. Department stores tumbled as Macy's and Kohl's plunged following weak holiday-season reports that led the chains to cut their profit forecasts.

After a solid but uninspiring report on private hiring in December, bond prices jumped and yields fell, which sent banks down. The dollar declined. Other industries that have climbed since the election, including industrial and basic materials companies, also slipped. The Dow Jones industrial average was down as much as 131 points at midday, but the losses later eased as shares of companies that pay big dividends traded higher.

Health care and technology stocks edged higher, and the Nasdaq composite recovered from an early loss to set another all-time high.

Stocks have surged in the last two months because investors expect faster economic growth after President-elect Donald Trump takes office. Kate Warne, an investment strategist for Edward Jones, said they may be waiting for a while. She thinks Trump's proposed tax cuts and higher infrastructure spending won't affect the economy much until late this year or early 2018.

The payroll report "reinforced investors' concerns that stocks have risen too quickly without policy changes actually taking place yet," she said. Warne added that investors are also not sure if Trump's trade and immigration proposals will slow down economic growth.

The Dow Jones industrial average sank 42.87 points, or 0.2 percent, to 19,899.29. The Standard & Poor's 500 index lost 1.75 points, or 0.1 percent, to 2,269. The Nasdaq composite rose 10.93 points, or 0.2 percent, to 5,487.94. The Russell 2000 index of small-company stocks surrendered 16.02 points, or 1.2 percent, to 1,371.94.

The day started with a mixed report on hiring. Payroll processing company ADP said private U.S. companies added 153,000 jobs in December. That was fewer than analysts expected and a bit less than they had in the months before. The government will release its own report on the job market on Friday.

Macy's said it will cut 10,000 jobs, and both it and Kohl's reported declines in a key sales measure for November and December. The job cuts will be part of a restructuring for Macy's that will include selling properties and continuing to close stores. Macy's, which has lost half its value over the last two years, tumbled $4.98, or 13.9 percent, to $30.86 and Kohl's slumped $9.87, or 19 percent, to $42.01. Nordstrom and J.C. Penney both sank 7 percent.

Amazon rose $23.27, or 3.1 percent, to $780.45 as investors interpreted the latest trouble for traditional stores as another sign that the online retail giant is continuing to expand at their expense.

Bond prices jumped. The yield on the 10-year Treasury note fell to 2.35 percent from 2.44 percent. That sent banks to steep losses, as lower bond yields mean lower interest rates and reduced profits from mortgages and other loans. Citigroup lost $1.07, or 1.7 percent, to $60.34 and Fifth Third Bancorp declined 78 cents, or 2.8 percent, to $26.64.

The dollar continued to slip below its recent 14-year highs. It fell to 115.62 yen from 117.60 yen. The euro rose to $1.0590 from $1.0467.

With the dollar skidding, the price of gold jumped $16, or 1.4 percent, to $1,181.30 an ounce. Silver gained 9 cents to $16.64 an ounce. That sent mining companies higher. Newmont Mining gained $1.61, or 4.6 percent, to $36.57 and Hecla Mining rose 26 cents, or 4.7 percent, to $5.83.

Copper prices edged down 2 cents to $2.54 a pound.

Drugmaker Alexion Pharmaceuticals jumped after the company said it won't restate any of its earnings. The company had been examining sales of its drug Soliris, but said it didn't find improper revenue recognition and that its sales were valid. Alexion did say it found weaknesses in "internal controls." The company began examining its sales practices in November, and the following month its CEO and chief financial officer left.

The stock rose $12.07, or 9.5 percent, to $139.18 Thursday.

Stanley Black & Decker rose after the company said it will buy Sears' Craftsman brand for around $900 million. In October the company agreed to buy Newell Brands' tools business for $1.95 billion. Its stock gained $1.87, or 1.6 percent, to $118.35.

Benchmark U.S. crude picked up 50 cents to $53.76 a barrel in New York. Brent crude added 43 cents to $56.89 a barrel in London.

In other energy trading, wholesale gasoline lost 1 cent to $1.64 a gallon. Heating oil remained at $1.69 a gallon. Natural gas rose 1 cent to $3.27 per 1,000 cubic feet.

The FTSE 100 index in Britain inched up 0.1 percent to set another all-time high. The German DAX held steady CAC-40 in France rose less than 0.1 percent. Japan's benchmark Nikkei 225 index fell 0.4 percent and the Kospi of South Korea edged 0.2 percent lower. Hong Kong's Hang Seng index rose 1.5 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 64.5 points or ▲ 0.32% on Friday, January 6, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,963.80 ▲ 64.51 ▲ 0.32% . 
 Nasdaq____ 5,521.06 ▲ 33.12 ▲ 0.60% . 
 S&P_500___ 2,276.98 ▲ 7.98 ▲ 0.35% . 
 30_Yr_Bond____ 3.00 ▲ 0.04 ▲ 1.42%   

NYSE Volume           3,307,083,500             
Nasdaq Volume           1,641,391,250             

 *Europe             *
* Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,210.05 ▲ 14.74 ▲ 0.20% . 
 DAX_____ 11,599.01 ▲ 14.07 ▲ 0.12% . 
 CAC_40__ 4,909.84 ▲ 9.20 ▲ 0.19% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,809.00 ▲ 3.90 ▲ 0.07% . 
 Shanghai_Comp 3,154.32 ▼ -11.09 ▼ -0.35% . 
 Taiwan_Weight 9,372.22 ▲ 14.08 ▲ 0.15% . 
 Nikkei_225___ 19,454.33 ▼ -66.36 ▼ -0.34% . 
 Hang_Seng.__ 22,503.01 ▲ 46.32 ▲ 0.21% . 
 Strait_Times.__ 2,962.63 ▲ 8.49 ▲ 0.29% . 
 NZX_50_Index_ 6,970.66 ▼ -4.94 ▼ -0.07% . 

http://finance.yahoo.com/news/us-st...--finance.html?_fsig=JmyBGdCGdDYoi.5zh6C79w--

*Higher wages push stocks to records, but Dow misses 20,000*
By MARLEY JAY
AP Markets Writer
NEW YORK (AP) - So close! The Dow Jones industrial average missed the 20,000 mark by a fraction of a point Friday as U.S. stock indexes rose after the government said wages jumped in December. Two other major indexes set records.

Stocks wavered between gains and losses in the morning after the December jobs report, which showed less hiring than analysts hoped to see. Bond yields rose sharply, as the continued job gains should encourage the Federal Reserve to keep raising interest rates.

Indexes turned higher as investors concluded that the rising wages will lead to more spending on technology and consumer goods. Industrial companies rose as investors hoped for greater economic growth.

Sam Stovall, a U.S. equity strategist for S&P Capital IQ, said there was good news for most industries. That's because workers are being paid more, but the report won't push the Fed to raise rates quickly in order to stave off inflation.

"Consumers are earning a bit more and as a result can spend more," he said. "But ... people are not too worried the Fed will have to slam on the brakes."

At about 12:40 p.m. the Dow peaked at 19,999.63, but later lost steam. It finished up 64.51 points, or 0.3 percent, at 19,963.80. The S&P 500 rose 7.98 points, or 0.4 percent, to 2,276.98. The Nasdaq composite jumped 33.12 points, or 0.6 percent, to 5,521.06.

The small-cap Russell 2000 index slid 4.65 points, or 0.3 percent, to 1,367.28.

Stocks finished the week with a big gain as investors remained optimistic about the U.S. economy. The S&P 500 climbed 1.7 percent. That was a marked change from last year, when the index lost 6 percent as the market got off to its worst opening week in history.

The Labor Department said U.S. employers added 156,000 jobs in December, which was solid but slightly disappointing. However the government said hourly pay jumped 2.9 percent from December 2015, the biggest monthly increase in seven years. Overall, job growth remained steady in 2016 but slowed a bit from 2015.

The biggest gains went to companies that stand to benefit from higher wages and greater spending by consumers. Among technology companies, Facebook rose $2.74, or 2.3 percent, to $123.41 and Apple gained $1.30, or 1.1 percent, to $117.91. Amazon had its second big gain in a row and added $15.54, or 2 percent, to $795.99 while travel website TripAdvisor picked up $1.57, or 3.2 percent, to $50.77.

Industrial companies, which have climbed since the presidential election two months ago, also fared well. Machinery and equipment maker Honeywell rose $1.77, or 1.5 percent, to $118.53.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.42 percent from 2.35 percent. Higher bond yields mean higher interest rates, which allow banks to make more money on lending. Investment banks and other financial firms did better than the rest of the market Friday afternoon. SunTrust Banks rose 63 cents, or 1.1 percent, to $55.53 and Goldman Sachs jumped $3.58, or 1.5 percent, to $244.90.

Companies that pay large dividends, including phone companies and real estate investment trusts, lagged the market as bond yields rose. Those stocks are often compared to bonds because of the steady income they provide. AT&T gave up 84 cents, or 2 percent, to $41.32 and Crown Castle International fell $1.74, or 2 percent, to $85.50.

Amgen climbed and Sanofi and Regeneron Pharmaceuticals fell after a court moved to block sales of Sanofi and Regeneron's cholesterol drug Praluent. A federal jury ruled in March that Praluent infringes on two patents that belong to Amgen. Both are costly biotech drugs designed to be injected once or twice a month. Sanofi and Regeneron said they will appeal the ruling, which came from U.S. District Court in Delaware.

Amgen stock gained $3.80, or 2.5 percent, to $156.78 while Regeneron slid $22.24, or 5.8 percent, to $358.68 and Sanofi lost $1.18, or 2.8 percent, to $40.32.

The dollar rose to 117.02 yen from 115.62 yen after a dip Thursday. The euro slipped to $1.0532 from $1.0590.

U.S. crude oil rose 23 cents to close at $53.99 a barrel in New York. Brent crude, which is used to price oil sold internationally, added 21 cents to close at $57.10 a barrel in London.

In other energy trading, wholesale gasoline slipped less than 1 cent to $1.63 a gallon. Heating oil rose 1 cent to $1.70 a gallon. Natural gas rose 1 cent to $3.29 per 1,000 cubic feet.

Gold fell $7.90 to $1,173.40 an ounce. Silver sank 12 cents to $16.52 an ounce. Copper rose 1 cent to $2.55 a pound.

The FTSE 100 index in Britain inched up 0.2 percent. It's risen nine days in a row and is at all-time highs. Germany's DAX edged up 0.1 percent and the CAC-40 of France rose 0.2 percent. Japan's benchmark Nikkei 225 index lost 0.3 percent while the Kospi in South Korea added 0.4 percent. In Hong Kong, the Hang Seng advanced 0.2 percent.

0024


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -76 points or ▼ -0.38% on Monday, January 9, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,887.38 ▼ -76.42 ▼ -0.38% . 
 Nasdaq____ 5,531.82 ▲ 10.76 ▲ 0.19% . 
 S&P_500___ 2,268.90 ▼ -8.08 ▼ -0.35% . 
 30_Yr_Bond____ 2.97 ▼ -0.04 ▼ -1.20%   

NYSE Volume           3,196,890,250              
Nasdaq Volume           1,782,597,500              

 *Europe             
Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,237.77 ▲ 27.72 ▲ 0.38% . 
 DAX_____ 11,563.99 ▼ -35.02 ▼ -0.30% . 
 CAC_40__ 4,887.57 ▼ -22.27 ▼ -0.45% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,857.70 ▲ 48.70 ▲ 0.84% . 
 Shanghai_Comp 3,171.24 ▲ 16.92 ▲ 0.54% . 
 Taiwan_Weight 9,342.42 ▼ -29.80 ▼ -0.32% . 
 Nikkei_225___ 19,454.33 ▼ -66.36 ▼ -0.34% . 
 Hang_Seng.__ 22,558.69 ▲ 55.68 ▲ 0.25% . 
 Strait_Times.__ 2,981.54 ▲ 18.91 ▲ 0.64% . 
 NZX_50_Index_ 7,012.74 ▲ 42.08 ▲ 0.60% .  

http://www.kswo.com/story/34215731/us-stocks-close-mostly-lower-as-oil-prices-slide

By ALEX VEIGA
AP Business Writer

A slide in oil and natural gas companies led U.S. stock indexes mostly lower Monday, even as the Nasdaq composite index eked out another record high.

Energy sector stocks declined the most, weighed down by lower prices for crude oil and other energy futures. Utilities and phone company stocks also fell sharply. But gains among health care and technology stocks helped lift the Nasdaq, extending a winning streak into its fifth day.

Absent major new economic data, investors mostly focused on company earnings and several corporate deals, including UnitedHealth's $2.3 billion cash-and-stock buyout of Surgical Care Affiliates.

All told, the Dow Jones industrial average fell 76.42 points, or 0.4 percent, to 19,887.38. The Standard & Poor's 500 index slid 8.08 points, or 0.4 percent, to 2,268.90. The Nasdaq rose 10.76 points, or 0.2 percent, to 5,531.82.

The market's postelection rally sputtered the last week of December. So far this year, the major stock indexes have mostly inched higher. That could change toward the end of the week, when the next big wave of company earnings news starts rolling in.

"It really gets down to earnings now," said Jim Davis, regional investment strategist at the Private Client Group at U.S. Bank. "The last few quarters, the bar has been set pretty low, basically flat earnings growth. Investors are expecting some earnings growth this year."

Disappointing quarterly earnings pulled Acuity Brands down nearly 15 percent, making it the biggest decliner in the S&P 500 on Monday. The lighting maker's results fell well short of what analysts were expecting. The stock slid $34.85 to $202.51.

Investors rewarded strong earnings from Global Payments. The electronic payment processing company climbed 7.2 percent. The stock led all the gainers in the S&P 500, adding $5.34 to $79.79.

Company deals sent some stocks higher.

Insurer UnitedHealth's bid for Surgical Care Affiliates drove the surgical care center operator's shares up $7.90, or 16.2 percent, to $56.65. UnitedHealth slipped 46 cents, or 0.3 percent, to $161.95.

VCA vaulted 28.3 percent after the pet health care company agreed to be acquired by food and drinks company Mars Inc. for around $7.7 billion. The deal also includes $1.4 billion in debt. Shares in VCA added $20.02 to $90.79.

Several oil and gas companies also racked up losses as energy futures prices fell.

Southwestern Energy fell 50 cents, or 4.9 percent, to $9.75, while Range Resources lost $1.47, or 4.3 percent, to $32.76. Devon Energy was off $2.09, or 4.3 percent, at $46.58.

U.S. benchmark crude oil fell $2.03, or 3.8 percent, to close at $51.96 a barrel in New York. Brent crude, which is used to price oil sold internationally, slid $2.16, or 3.8 percent, to close at $54.94 a barrel in London.

In other energy trading, wholesale gasoline lost 6 cents to $1.57 a gallon and heating oil fell 7 cents to $1.64 a gallon. Natural gas futures shed 18 cents, or 5.5 percent, to $3.10 per 1,000 cubic feet.

Markets overseas were also mixed.

In Europe, Germany's DAX fell 0.3 percent, while France's CAC 40 slid 0.5 percent. Britain's FTSE 100 rose 0.4 percent. Earlier in Asia, Hong Kong's benchmark Hang Seng index rose 0.3 percent, while South Korea's Kospi slipped 0.1 percent. Markets in Japan were closed for a holiday.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.37 percent from 2.42 percent late Friday.

The pound fell to $1.2163 from $1.2274, its lowest level since October, amid indications the British government is inclined to opt for a full break away from the European Union's single market. The dollar fell to 116.06 yen from 117.02 yen in late trading Friday. The euro rose to $1.0577 from $1.0532.

In metals trading, the price of gold rose $11.50, or 1 percent, to $1,184.90 an ounce. Silver added 16 cents, or 1 percent, to $16.68 an ounce. Copper fell a penny to $2.54 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -32 points or ▼ -0.16% on Tuesday, January 10, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,855.53 ▼ -31.85 ▼ -0.16% . 
 Nasdaq____ 5,551.82 ▲ 20.00 ▲ 0.36% . 
 S&P_500___ 2,268.90 ▲ 0.00 ▲ 0.00% . 
 30_Yr_Bond____ 2.97 ▲ 0.00 ▲ 0.07%   

NYSE Volume           3,637,466,500              
Nasdaq Volume           1,702,439,620              

 *Europe             
Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,275.47 ▲ 37.70 ▲ 0.52% . 
 DAX_____ 11,583.30 ▲ 19.31 ▲ 0.17% . 
 CAC_40__ 4,888.23 ▲ 0.66 ▲ 0.01% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,813.00 ▼ -44.70 ▼ -0.76% . 
 Shanghai_Comp 3,161.67 ▼ -9.56 ▼ -0.30% . 
 Taiwan_Weight 9,349.64 ▲ 7.22 ▲ 0.08% . 
 Nikkei_225___ 19,301.44 ▼ -152.89 ▼ -0.79% . 
 Hang_Seng.__ 22,744.85 ▲ 186.16 ▲ 0.83% . 
 Strait_Times.__ 3,006.02 ▲ 24.48 ▲ 0.82% . 
 NZX_50_Index_ 7,037.58 ▲ 24.84 ▲ 0.35% .  

http://finance.yahoo.com/news/us-stock-indexes-edge-mostly-152552094.html

*Nasdaq sets another record high on mixed day for US stocks*




ALEX VEIGA

The Nasdaq composite index notched its fourth record-high close in a row Tuesday, eking out a modest gain on a day when the other major U.S. stock indexes barely budged.

After wavering between small gains and losses for much of the day, the Standard & Poor's 500 index closed unchanged, while the Dow Jones industrial average posted a slight loss. More stocks rose than fell on the New York Stock Exchange.

Consumer-focused companies, banks and health care stocks were among the biggest gainers. Real estate companies lagged the most. Energy stocks also fell following a drop in crude oil prices.

Encouraging reports on small business confidence and job openings helped keep stocks in the green early in the day. But by midafternoon the indexes began to waver.

"I do think the market stays kind of quiet until it really hits earnings season," said David Chalupnik, head of equities for Nuveen Asset Management. "The market will really start to take its direction when earnings season starts in full, and that's Friday."

The Nasdaq composite increased 20 points, or 0.4 percent, to 5,551.82. The index has closed higher the past six days in a row. The S&P 500 ended unchanged at 2,268.90. The Dow slipped 31.85 points, or 0.2 percent, to 19,855.53.

While the busiest stretch of the next corporate earnings season doesn't begin until Friday, several companies reported outlooks or preliminary results Tuesday that pleased investors.

Illumina jumped 16.6 percent after it reported better-than-anticipated fourth quarter sales. The company also launched a new genetic sequencing system called NovaSeq. The stock led the gainers in the S&P 500, adding $23.50 to $165.04.

Alaska Air Group rose 5.2 percent after the airline, which bought Virgin America in December, reported strong monthly results. The stock gained $4.53 to $92.

Zimmer Biomet added 6.2 percent after the medical device maker projected better-than-expected fourth-quarter sales. The stock rose $6.67 to $113.67.

Other companies' outlooks put traders in a selling mood.

Ascena Retail Group slumped 10 percent after the company slashed its profit forecast, citing holiday season sales, which fell for most of its store chains, including Ann Taylor, Lane Bryant and Dressbarn. The stock lost 60 cents to $5.41.

Investors boosted shares in Pacific Continental on news the holding company for Pacific Continental Bank will be bought by Columbia Banking System for $644 million. Pacific Continental shares added $5.35, or 25.7 percent, to $26.15. Columbia shares slid $1.26, or 2.9 percent, to $42.05.

Major stock indexes in Europe notched gains, led by Britain's FTSE 100, which rose 0.5 percent, closing at a new all-time high for the ninth day in a row. Germany's DAX added 0.2 percent, while the CAC40 of France inched up 0.1 percent. In Asia, Japan's Nikkei 225 index dropped 0.8 percent, while the Kospi in South Korea slipped 0.2 percent. Hong Kong's Hang Seng added 0.8 percent.

U.S. benchmark crude oil lost $1.14, or 2.2 percent, to close at $50.82 a barrel in New York. Brent crude, which is used to price oil sold internationally, fell $1.30, or 2.4 percent, to close at $53.64 a barrel in London.

In other energy trading, wholesale gasoline slid 2 cents to $1.55 a gallon and heating oil fell 3 cents to $1.61 a gallon. Natural gas futures rose 18 cents, or 5.6 percent, to $3.28 per 1,000 cubic feet.

Even so, several natural gas companies closed lower. Williams Cos. was down the most among stocks in the S&P 500 index, sliding $3.43, or 10.7 percent, to $28.50. Oneok lost $1.41, or 2.5 percent, to $56.07.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.38 percent from 2.37 percent late Monday.

The pound held steady at $1.2163. The dollar fell to 115.73 yen from 116.06 in late trading Monday. The euro fell to $1.0560 from $1.0577.

In metals trading, the price of gold edged up 60 cents to $1,185.50 an ounce. Silver added 17 cents, or 1 percent, to $16.85 an ounce. Copper rose 7 cents to $2.61 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 98.8 points or ▲ 0.50% on Wednesday, January 11, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,954.28 ▲ 98.75 ▲ 0.50% . 
 Nasdaq____ 5,563.65 ▲ 11.83 ▲ 0.21% . 
 S&P_500___ 2,275.32 ▲ 6.42 ▲ 0.28% . 
 30_Yr_Bond____ 2.96 ▼ -0.01 ▼ -0.44%   

NYSE Volume           3,618,433,750              
Nasdaq Volume           1,852,159,250              

 *Europe             
Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,290.49 ▲ 15.02 ▲ 0.21% . 
 DAX_____ 11,646.17 ▲ 62.87 ▲ 0.54% . 
 CAC_40__ 4,888.71 ▲ 0.48 ▲ 0.01% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,823.70 ▲ 10.70 ▲ 0.18% . 
 Shanghai_Comp 3,136.75 ▼ -24.92 ▼ -0.79% . 
 Taiwan_Weight 9,345.74 ▼ -3.90 ▼ -0.04% . 
 Nikkei_225___ 19,364.67 ▲ 63.23 ▲ 0.33% . 
 Hang_Seng.__ 22,935.35 ▲ 190.50 ▲ 0.84% . 
 Strait_Times.__ 3,000.94 ▼ -5.08 ▼ -0.17% . 
 NZX_50_Index_ 7,069.59 ▲ 32.01 ▲ 0.45% . 

http://finance.yahoo.com/news/us-stock-indexes-edge-higher-early-trading-oil-151702226--finance.html

*US stock indexes close higher after wavering much of the day*




ALEX VEIGA

Energy companies led U.S. stocks modestly higher Wednesday, nudging the Nasdaq composite to its fifth record-high close in a row.

Rising crude oil prices gave energy companies a boost, including oil rig operator Transocean, which rose 4 percent. Traders also bid up shares in utilities.

Health care stocks fell after President-elect Donald Trump spoke about the need for the government to stem drug costs by creating new bidding procedures. Pharmaceutical company Endo International led the decliners in the Standard & Poor's 500 index, sliding 8.5 percent.

The stock market spent much of the day wavering between small gains and losses as investors sized up outlooks from several companies ahead of the latest batch of corporate earnings reports.

"The heavy load comes in the coming weeks," said Tim Dreiling, regional investment director for U.S. Bank's Private Client Reserve. "There's a little bit of a wait-and-see on what those earnings numbers look like."

The Dow Jones industrial average rose 98.75 points, or 0.5 percent, to 19,954.28. The S&P 500 index added 6.42 points, or 0.3 percent, to 2,275.32. The Nasdaq gained 11.83 points, or 0.2 percent, to 5,563.65. The index has risen every day this year.

During a press conference Wednesday morning, Trump said the government has to create new bidding procedures for the pharmaceutical industry "because they're getting away with murder." The remarks sent health care stocks broadly lower, particularly pharmaceutical companies. At one point, drugmakers and one prescription drug distributor accounted for the nine biggest losers in the S&P 500.

Endo International posted the biggest loss, tumbling $1.30 to $14.01. Perrigo slid $5.77, or 6.9 percent, to $77.88. Mallinckrodt slumped $3.31, or 6.2 percent, to $50.44.

Not all drugmakers had a bad day.

Merck rose 2.9 percent on news that the Food and Drug Administration will do a quick review of one of the company's drugs for its potential to treat a type of lung cancer. The stock added $1.71 to $61.63.

Big U.S. companies start reporting fourth-quarter earnings this week. On Friday JPMorgan Chase, Wells Fargo and Bank of America release their results.

"As we look into 2017, we still expect equities are going to be able to grind higher, because we still have enough of an economic push to do that," Dreiling said. "But a move up in equities is going to have to come from earnings, otherwise, these valuations ... look pretty stretched, pretty rich at these levels."

Investors had their eye Wednesday on companies that released earnings or forecasts of their upcoming quarterly results.

SuperValu slid 7.5 percent after the grocery store operator announced a weak third-quarter profit, partly because of falling food prices. The stock shed 36 cents to $4.43.

Traders bid up shares in several companies that projected strong fourth-quarter results.

Intuitive Surgical gained $15.96, or 2.4 percent, to $678.16, while medical device maker Stryker added $1.76, or 1.4 percent, to $123.66.

Quarterly outlooks from other companies failed to impress investors.

Signet Jewelers cut its profit forecast for the fourth quarter and current fiscal year, noting its sales fell 5 percent over the holidays. The stock fell $2.76, or 3.2 percent, to $84.70.

Auto parts supplier BorgWarner slid 1.6 percent after it issued a profit and sales forecast that fell short of what Wall Street was anticipating. The stock shed 65 cents to $40.12.

The major indexes in Europe were mixed.

Germany's DAX rose 0.5 percent, while France's CAC 40 was essentially flat. Britain's FTSE 100 gained 0.2 percent.

Earlier in Asia, a strong earnings forecast from Samsung Electronics helped drive gains on the South Korean stock market, where the Kospi added 1.5 percent and hit its highest close in over a year. Japan's benchmark Nikkei 225 rose 0.3 percent. Australia's S&P/ASX 200 added 0.2 percent. Hong Kong's Hang Seng gained 0.8 percent.

Benchmark U.S. crude rose $1.43, or 2.8 percent, to close at $52.25 a barrel in New York. Brent crude, which is used to price oil sold internationally, gained $1.46, or 2.7 percent, at $55.10 a barrel in London. In other energy trading, wholesale gasoline added 5 cents to $1.59 a gallon and heating oil rose 4 cents to $1.65 a gallon. Natural gas futures slipped 5 cents to $3.22 per 1,000 cubic feet.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.36 percent from 2.38 percent late Tuesday.

In currency markets, the dollar fell to 115.43 yen from 115.73 yen late Tuesday. The euro rose to $1.0576 from $1.0560. The pound, which has been declining amid concern that Britain might break off completely from the European Union's single market, gained ground on the dollar. The British currency strengthened to $1.2208 from $1.2163.

Among metals, the price of gold rose $11.10 to $1,196.60 an ounce. Silver slipped 2 cents to $16.83 an ounce. Copper was little changed at $2.61 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -63 points or ▼ -0.32% on Thursday, January 12, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,891.00 ▼ -63.28 ▼ -0.32% . 
 Nasdaq____ 5,547.49 ▼ -16.16 ▼ -0.29% . 
 S&P_500___ 2,270.44 ▼ -4.88 ▼ -0.21% . 
 30_Yr_Bond____ 2.96 ▲ 0.00 ▲ 0.10%   

NYSE Volume           3,453,421,250              
Nasdaq Volume           1,730,142,620              

 *Europe             
Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,292.37 ▲ 1.88 ▲ 0.03% . 
 DAX_____ 11,521.04 ▼ -125.13 ▼ -1.07% . 
 CAC_40__ 4,863.97 ▼ -24.74 ▼ -0.51% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,821.60 ▼ -2.10 ▼ -0.04% . 
 Shanghai_Comp 3,119.29 ▼ -17.46 ▼ -0.56% . 
 Taiwan_Weight 9,410.18 ▲ 64.44 ▲ 0.69% . 
 Nikkei_225___ 19,134.70 ▼ -229.97 ▼ -1.19% . 
 Hang_Seng.__ 22,829.02 ▼ -106.33 ▼ -0.46% . 
 Strait_Times.__ 2,993.00 ▼ -7.94 ▼ -0.26% . 
 NZX_50_Index_ 7,063.59 ▼ -6.00 ▼ -0.08% . 

http://finance.yahoo.com/news/us-stock-indexes-moved-lower-152237586.html

*Financial companies lead US stocks lower; oil rises*




Alex Veiga,

Banks and other financial companies led U.S. stocks modestly lower Thursday, wiping out much of the market's gains from a day earlier.

Phone companies, real estate, utilities and health care stocks eked out gains. Energy, technology and other stocks that posted big gains in the weeks after the November election lost ground. Hess slumped 4.8 percent and chipmaker Micron Technology fell 2.1 percent.

Banks, which moved sharply higher through much of the postelection rally in November and December, were hurt by a drop in bond yields, which can push down interest rates on loans, squeezing banks' profits.

"The market has been running pretty nicely this year, so this is just a little bit of a pullback, a little bit of a consolidation," said Troy Logan, managing director at Warren Financial Service. "Anything that has run well postelection has pulled back somewhat today."

The Dow Jones industrial average slid 63.28 points, or 0.3 percent, to 19,891. The average had briefly been down more than 183 points. The Standard & Poor's 500 index lost 4.88 points, or 0.2 percent, to 2,270.44. The Nasdaq composite snapped a seven-day winning streak that delivered five consecutive record highs. On Thursday, the index fell 16.16 points, or 0.3 percent, to 5,547.49.

The market's slide came as investors looked ahead to several weeks of companies reporting their latest quarterly results. That begins Friday, when several major banks are due to report earnings, including Bank of America, JPMorgan Chase and Wells Fargo.

The latest drop in bond yields weighed on bank stocks Thursday. The yield on the 10-year Treasury slipped to 2.36 percent from 2.37 percent late Wednesday.

Beyond that, some traders may have also been selling bank stocks to lock in the sector's recent gains ahead of Friday's earnings releases, Logan said.

"Tomorrow is the big day for a lot of the big banks," he said. "They've run up pretty nicely postelection and through this year."

PNC Financial Services Group lost $2.85, or 2.4 percent, to $117.93, while Zions Bancorporation fell 95 cents, or 2.2 percent, to $42.97. JPMorgan Chase shed 84 cents, or 1 percent, to $86.24.

Companies issuing earnings forecasts also grabbed investors' attention Thursday.

Hess slid 4.8 percent after the oil company said it will take a $3.8 billion charge in the fourth quarter. The stock fell $2.99 to $58.85.

Other companies making news also lost ground.

Mylan fell 1.4 percent on news that rival CVS slashed its price on a generic version of Adrenaclick, a lesser-known treatment similar to EpiPen, which can cost more than $600. The version that CVS will is selling costs about a sixth of the price of Mylan's EpiPen. The stock shed 51 cents to $36.77.

Fiat Chrysler tumbled 10.3 percent after the U.S. government accused the automaker of violating vehicle emission laws. The Environmental Protection Agency said Thursday that Fiat Chrysler failed to disclose software in some of its vehicles with diesel engines that allows them to emit more pollution than allowed under the Clean Air Act. Shares in Fiat slid $1.14 to $9.95.

Markets overseas were mixed.

In Europe, Germany's DAX fell 1.1 percent, while France's CAC 40 slid 0.5 percent despite new data showing eurozone industrial production jumped 1.5 percent in November. Britain's FTSE 100 was flat. In Asia, Japan's benchmark Nikkei 225 dropped 1.2 percent. Hong Kong's Hang Seng dipped 0.5 percent, while Australia's S&P/ASX 200 slipped 0.1 percent. South Korea's Kospi bucked the trend to rise 0.6 percent.

Energy futures closed higher. Benchmark crude oil rose 76 cents, or 1.5 percent, to close at $53.01 a barrel in New York. Brent crude, which is used to price oil sold internationally, added 91 cents, or 1.7 percent, to close at $56.01 a barrel in London.

In other energy trading, wholesale gasoline added 2 cents to $1.61 a gallon and heating oil rose 2 cents to $1.68 a gallon. Natural gas futures gained 16 cents, or 5 percent, to $3.39 per 1,000 cubic feet.

In currency trading, the dollar fell to 114.63 yen from 115.43 on Wednesday. The euro rose to $1.0626 from $1.0576. The pound, which has been weakening recently amid concern that Britain might break off completely from the European Union's single market, lost ground again to the dollar. The British currency slid to $1.2163 from $1.2208.

The price of gold rose $3.20 to $1,199.80 an ounce. Silver was little changed at $16.83 an ounce. Copper rose 6 cents to $2.67 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -5.3 points or ▼ -0.03% on Friday, January 13, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,885.73 ▼ -5.27 ▼ -0.03% . 
 Nasdaq____ 5,574.12 ▲ 26.63 ▲ 0.48% . 
 S&P_500___ 2,274.64 ▲ 4.20 ▲ 0.18% . 
 30_Yr_Bond____ 2.98 ▲ 0.02 ▲ 0.57%   

NYSE Volume           3,067,362,250            
Nasdaq Volume           1,530,400,750            

 *Europe             *
* Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,337.81 ▲ 45.44 ▲ 0.62% . 
 DAX_____ 11,629.18 ▲ 108.14 ▲ 0.94% . 
 CAC_40__ 4,922.49 ▲ 58.52 ▲ 1.20% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,776.80 ▼ -44.80 ▼ -0.77% . 
 Shanghai_Comp 3,112.76 ▼ -6.52 ▼ -0.21% . 
 Taiwan_Weight 9,378.83 ▼ -31.35 ▼ -0.33% . 
 Nikkei_225___ 19,287.28 ▲ 152.58 ▲ 0.80% . 
 Hang_Seng.__ 22,937.38 ▲ 108.36 ▲ 0.47% . 
 Strait_Times.__ 3,025.07 ▲ 32.07 ▲ 1.07% . 
 NZX_50_Index_ 7,046.97 ▼ -16.62 ▼ -0.24% . 


http://finance.yahoo.com/news/us-stock-indexes-head-higher-151733528.html

*US stock indexes end mostly higher on solid bank earnings*
Alex Veiga, Ap Business Writer

Banks led U.S. stock indexes mostly higher Friday, propelling the Nasdaq composite index to its fourth record high this week.

Investors welcomed quarterly earnings from JPMorgan Chase, Bank of America and Wells Fargo, all of which reported results that exceeded Wall Street's expectations. Financial stocks also benefited from an upward move in bond yields, which will lead to higher interest rates on loans.

Real estate stocks were the biggest laggard. Shares in energy companies also closed lower as crude oil prices declined. Mixed data on U.S. retail sales weighed on department store stocks.

Friday's crop of company earnings kicks off several weeks of corporate earnings reports, giving investors new insight into the health of Corporate America and the economy.

"We all thought financials would do well," said J.J. Kinahan, TD Ameritrade's chief strategist. "Now how about the other areas of the economy?

The Dow Jones industrial average slipped 5.27 points, or 0.03 percent, to 19,885.73. The average had been up by 61 points earlier in the day. The Standard & Poor's 500 index gained 4.20 points, or 0.2 percent, to 2,274.64. The Nasdaq added 26.63 points, or 0.5 percent, to 5,574.12. The index has set a record-high close six times this year.

Small-company stocks rose more than the rest of the market. The Russell 2000 index jumped 10.98 points, or 0.8 percent, to 1,372.05.

The major stock indexes headed higher early on in the day, as investors reacted to earnings reports from JPMorgan Chase, Bank of America and Wells Fargo. The three banking giants delivered quarterly results that exceeded Wall Street's expectations, pushing their shares higher.

JPMorgan added 46 cents, or 0.5 percent, to $86.70. Bank of America rose 9 cents, or 0.4 percent, to $23.01. Wells Fargo gained 81 cents, or 1.5 percent, to $55.31.

Traders also reviewed the latest monthly snapshot of U.S. retail sales, which showed that sales rose 0.6 percent overall in December, mainly due to a pickup in online shopping and sales of autos and gasoline.

"If you back out gasoline increasing and auto sales increasing, it's not an impressive number," Kinahan said.

The retail sales report weighed down shares of several department store chains and clothing brands. By early afternoon, the market had begun to give up some of its gains.

PVH Corp., home to Calvin Klein, Tommy Hilfiger and other clothing brands, slid $3.82, or 4.1 percent, to $89.31. Nordstrom fell 83 cents, or 1.8 percent, to $44.20. Gap shed 34 cents, or 1.4 percent, to $23.66.

Traders also had their eye on companies that issued outlooks for their upcoming earnings reports.

Pandora Media climbed 6.3 percent after the streaming music company issued a strong revenue forecast. The company also said it will cut about 7 percent of its jobs to reduce costs. The stock added 76 cents to $12.765.

HomeStreet fell 6 percent after the real estate lender forecast disappointing fourth-quarter results. It took in fewer mortgage applications as interest rates began rising. The stock slid $1.85 to $29.10.

GameStop tumbled 8.1 percent after the video game retailer said holiday revenue dropped because of discounts and weak sales of new "Call of Duty" and "Titanfall" games. The stock shed $1.99 to $22.73.

Energy prices were mixed.

Benchmark crude oil fell 64 cents, or 1.2 percent, to close at $52.37 a barrel in New York. Brent crude, which is used to price oil sold internationally, slid 56 cents, or 1 percent, to close at $55.45 a barrel in London.

The slide in crude prices helped pull down shares in energy sector stocks.

Oilfield services company Baker Hughes slid $1.50, or 2.4 percent, to $60.92, while drilling services company Transocean lost 36 cents, or 2.3 percent, to $15.48. Marathon Petroleum fell 87 cents, or 1.8 percent, to $48.38.

In other energy trading, wholesale gasoline was little changed at $1.61 a gallon, while heating oil slipped 2 cents to $1.65 a gallon. Natural gas futures gained 3 cents, or 1 percent, to $3.42 per 1,000 cubic feet.

Major stock indexes in Europe closed higher.

Germany's DAX rose 0.9 percent, while France's CAC 40 gained 1.2 percent. Britain's FTSE 100 added 0.6 percent.

Earlier in Asia, some markets finished lower on disappointing trade data from China. Hong Kong's Hang Seng index gained 0.5 percent. Japan's Nikkei 225 index rose 0.8 percent. South Korea's Kospi fell 0.5 percent, while Australia's S&P/ASX 200 slumped 0.8 percent.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.39 percent from 2.36 percent late Thursday.

In currency trading, the dollar fell to 114.42 yen from 114.63 yen on Thursday. The euro strengthened to $1.0646 from $1.0626.

The price of gold fell $3.60 to $1,196.20 an ounce. Silver slid 6 cents to $16.77 an ounce. Copper rose 2 cents to $2.69 a pound.

309





















DYOR, I am not a financial advisor


----------



## bigdog

*Members

10 years ago today I posted my first entry to "NYSE Dow Jones finished today at:"

Hopefully 10+ more years left in me!

John now 71*


----------



## bigdog

Source: http://finance.yahoo.com 

*THE NYSE WAS CLOSED FOR MARTIN LUTHER KING, JR DAY HOLIDAY MONDAY JANUARY 16 *

 *The NYSE DOW closed  LOWER ▼ -5.3 points or ▼ -0.03% on Friday, January 13, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,885.73 ▼ -5.27 ▼ -0.03% Holiday 
 Nasdaq____ 5,574.12 ▲ 26.63 ▲ 0.48% Holiday 
 S&P_500___ 2,274.64 ▲ 4.20 ▲ 0.18% Holiday 
 30_Yr_Bond____ 2.98 ▲ 0.02 ▲ 0.57%   

NYSE Volume           3,090,624,500            
Nasdaq Volume           1,607,880,880            

 *Europe             *
* Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,327.13 ▼ -10.68 ▼ -0.15% . 
 DAX_____ 11,554.71 ▼ -74.47 ▼ -0.64% . 
 CAC_40__ 4,882.18 ▼ -40.31 ▼ -0.82% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,803.00 ▲ 26.20 ▲ 0.45% . 
 Shanghai_Comp 3,103.43 ▼ -9.34 ▼ -0.30% . 
 Taiwan_Weight 9,292.33 ▼ -86.50 ▼ -0.92% . 
 Nikkei_225___ 19,095.24 ▼ -192.04 ▼ -1.00% . 
 Hang_Seng.__ 22,718.15 ▼ -219.23 ▼ -0.96% . 
 Strait_Times.__ 3,013.12 ▼ -11.95 ▼ -0.40% . 
 NZX_50_Index_ 7,074.94 ▲ 27.97 ▲ 0.40% . 

http://finance.yahoo.com/news/asian-shares-mostly-lower-amid-062030239.html

*Global stocks, pound drop amid worries over Brexit*




Yuri Kageyama, AP Business Writer

TOKYO (AP) -- Global stock markets and the pound fell on Monday amid worries that Britain will opt for a "hard exit" from the European Union in which it severs its access to the bloc's single market.

KEEPING SCORE: France's CAC 40 dropped 0.7 percent to 4,885 and Germany's DAX shed 0.6 percent to 11,557. Britain's FTSE 100 inched down only 0.1 percent to 7,327, as the drop in the pound tends to support the shares of the index's many multinationals that earn in dollars. The U.S. was shut for a holiday.

BREXIT WORRIES: British Prime Minister Theresa May is set to deliver a speech Tuesday outlining her vision of Britain's post-EU future, and market players expect her to indicate a "hard" approach to the nation's exit. That would mean leaving the EU single market, which guarantees no tariffs on goods and services. Her office has said she will call for a "truly global Britain" that is more open to the world when she lays out plans for negotiations with the EU.

POUND: The Brexit concerns are taking a toll on the pound. The British currency on Monday tumbled to its weakest levels since October, when it suffered a flash crash that brought it to 31-year lows against the dollar, before recovering somewhat. It was at $1.2061 on Monday compared with $1.2183 the day before.

EXPERT VIEW: Analysts at UniCredit Research say that the pound is likely to remain under pressure as it seems that May is willing to sacrifice access to the EU single market if that's needed to limit EU immigration. "As long as control over immigration remains the U.K. government's anchoring point, it is virtually impossible to envision anything other than an exit from the EU's single market," they said in a note to investors.

TAKATA'S TUMBLE: Japanese air bag maker Takata Corp.'s stock suffered after the company agreed in the U.S. last week to a guilty plea and a $1 billion fine for concealing a deadly defect in millions of air bags. Takata shares finished down 10.1 percent. Three former Takata executives were also indicted. Automakers have recalled 42 million cars equipped with 69 million Takata air bag inflators in the U.S., the largest automotive recall in U.S. history.

ASIA'S DAY: Japan's benchmark Nikkei 225 lost 1.0 percent to 19,095.24. Australia's S&P/ASX 200 added 0.5 percent to 5,748.20. South Korea's Kospi lost 0.6 percent at 2,064.17. Hong Kong's Hang Seng slipped 1.0 percent to 22,718.15, while the Shanghai Composite dropped 0.3 percent to 3,103.43. Shares in Southeast Asia were also mostly lower.

ENERGY: Benchmark crude fell 16cents to $52.21 a barrel in electronic trading on the New York Mercantile Exchange. It fell 1.2 percent Friday. Brent crude, which is used to price oils sold internationally, lost 9 cents to $55.36 a barrel in London.

OTHER CURRENCIES: The dollar fell to 114.03 yen from 114.58 yen. The euro fell to $1.0602 from $1.0643.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -59 points or ▼ -0.30% on Tuesday, January 17, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,826.77 ▼ -58.96 ▼ -0.30% . 
 Nasdaq____ 5,538.73 ▼ -35.39 ▼ -0.63% . 
 S&P_500___ 2,267.89 ▼ -6.75 ▼ -0.30% . 
 30_Yr_Bond____ 2.93 ▼ -0.05 ▼ -1.68%   

NYSE Volume           3,585,295,000              
Nasdaq Volume           1,666,340,250              

 *Europe             
Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,220.38 ▼ -106.75 ▼ -1.46% . 
 DAX_____ 11,540.00 ▼ -14.71 ▼ -0.13% . 
 CAC_40__ 4,859.69 ▼ -22.49 ▼ -0.46% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,754.70 ▼ -48.30 ▼ -0.83% . 
 Shanghai_Comp 3,108.77 ▲ 5.35 ▲ 0.17% . 
 Taiwan_Weight 9,354.53 ▲ 62.20 ▲ 0.67% . 
 Nikkei_225___ 18,813.53 ▼ -281.71 ▼ -1.48% . 
 Hang_Seng.__ 22,840.97 ▲ 122.82 ▲ 0.54% . 
 Strait_Times.__ 3,012.77 ▼ -0.35 ▼ -0.01% . 
 NZX_50_Index_ 7,062.96 ▼ -11.98 ▼ -0.17% .  

http://finance.yahoo.com/news/us-stock-indexes-drop-along-151612800.html

*Bad day for bank stocks drags down indexes; dollar drops*




STAN CHOE

NEW YORK (AP) — A bad day for bank stocks pulled the Dow Jones industrial average to its third straight loss Tuesday as many of the patterns that have propelled markets since Election Day last year snapped into reverse.

The Dow Jones industrial average fell 58.96 points, or 0.3 percent, to 19,826.77, cutting into the gain it had made since Donald Trump's surprise victory in November. The Standard & Poor's 500 index fell 6.75, or 0.3 percent, to 2,267.89. The Nasdaq composite fell 35.39, or 0.6 percent, to 5,538.73.

The main culprit for the weakness was the financial sector, whose 2.3 percent drop was nearly triple that of any of the other 10 sectors that make up the S&P 500. The losses came even though Morgan Stanley on Tuesday morning joined the list of banks to report better-than-expected earnings for the fourth quarter.

Part of the reason for the losses was likely Tuesday's drop in bond yields. Bank stocks have often been trading in the opposite direction of bond yields, and the yield on the 10-year Treasury note fell to 2.32 percent from 2.38 percent late Friday. Yields on two-year and 30-year Treasurys also sank.

Another reason may lie in how well bank stocks had been performing in the months earlier: Financial stocks in the S&P 500 jumped 17 percent in the two months following the election, more than any other sector in the S&P 500.

"You're seeing a day where stocks that have been strong are pulling back a little bit, and investors are putting money into some of the laggards," said Mike Barclay, senior portfolio manager for Columbia Threadneedle Investments.

Companies that sell everyday items to consumers logged the biggest gains of the day, with those in the S&P 500 up 1.3 percent. They're also the ones that have struggled the most since Election Day.

Among them was tobacco company Reynolds American. It rose $1.71, or 3.1 percent, to $57.68 after British American Tobacco said it would buy the remaining 57.8 percent of the company that it doesn't already own. British American Tobacco said it will pay $59.64 per share in cash and stock.

Utility stocks, which have also lagged the market since Election Day, did well. Those in the S&P 500 rose 1.2 percent, aided by the drop in Treasury yields. When bonds are paying less in interest, dividend-paying stocks become more attractive to income investors, and utilities have some of the largest dividend yields.

NRG Energy rose 74 cents, or 5.1 percent, to $15.34 and was one of the top-performing stocks in the S&P 500 after an investment firm run by activist investor Paul Singer disclosed an ownership stake in the power company.

The biggest gain in the S&P 500 came from Noble Energy, which rose $2.66, or 7.1 percent, to $40.05. The oil and gas company agreed to buy Clayton Williams Energy for $2.7 billion in stock and cash.

Nearly as many stocks rose on the New York Stock Exchange as fell, but the outsized losses for bank stocks were enough to drag indexes lower.

The dollar also fell against most of its rivals, including the Japanese yen, euro and Canadian dollar. Its sharpest drop came against the British pound, which rallied after British Prime Minister Theresa May gave a highly anticipated speech about her country's pending departure from the European Union. One British pound bought $1.2396 as of Tuesday afternoon, up sharply from $1.2190 late Friday.

May said in her speech that the U.K. will make a clean break from the European Union and depart its single market. She also acknowledged for the first time that Britain's Parliament will be able to vote on the final deal. Uncertainty about the pending divorce has shaken investors since June, when the U.K. voted to quit the European Union. The pound remains more than 15 percent weaker against the dollar than it was in June.

Benchmark U.S. crude oil rose 11 cents, or 0.2 percent, to $52.48 per barrel. Brent crude, used to price international oils, fell 39 cents, or 0.7 percent, to $55.47.

Natural gas fell a fraction of a penny to $3.412 per 1,000 cubic feet.

Gold rose $16.70 to $1,212.90 per ounce, up 1.4 percent. Silver rose 38 cents to $17.15 per ounce, and copper fell 1 cent to $2.63 per pound.

In Asia, markets were. Japan's Nikkei 225 index fell 1.5 percent, while South Korea's Kospi rose 0.4 percent and Hong Kong's Hang Seng index gained 0.5 percent. In Europe, the French CAC 40 fell 0.5 percent, and the German DAX fell 0.1 percent. In London, the FTSE 100 fell 1.5 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -22 points or ▼ -0.11% on Wednesday, January 18, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,804.72 ▼ -22.05 ▼ -0.11% . 
 Nasdaq____ 5,555.65 ▲ 16.93 ▲ 0.31% . 
 S&P_500___ 2,271.89 ▲ 4.00 ▲ 0.18% . 
 30_Yr_Bond____ 2.99 ▲ 0.06 ▲ 1.98%   

NYSE Volume           3,297,896,250              
Nasdaq Volume           1,591,107,620              

 *Europe             
Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,247.61 ▲ 27.23 ▲ 0.38% . 
 DAX_____ 11,599.39 ▲ 59.39 ▲ 0.51% . 
 CAC_40__ 4,853.40 ▼ -6.29 ▼ -0.13% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,733.70 ▼ -21.00 ▼ -0.36% . 
 Shanghai_Comp 3,113.01 ▲ 4.24 ▲ 0.14% . 
 Taiwan_Weight 9,341.97 ▼ -12.56 ▼ -0.13% . 
 Nikkei_225___ 18,894.37 ▲ 80.84 ▲ 0.43% . 
 Hang_Seng.__ 23,098.26 ▲ 257.29 ▲ 1.13% . 
 Strait_Times.__ 3,000.22 ▼ -12.55 ▼ -0.42% . 
 NZX_50_Index_ 7,059.27 ▼ -3.69 ▼ -0.05% . 

http://finance.yahoo.com/news/us-stock-indexes-mixed-bond-151531194.html

*US stock indexes stay stuck; bond yields and dollar rise*




STAN CHOE

NEW YORK (AP) — The stock market hasn't been this boring in years.

The Standard & Poor's 500 remained at a near standstill Wednesday, the ninth day in a row that it has moved by less than 0.4 percent, up or down. That's its longest streak of listlessness since the summer of 2013. Other indexes were mixed.

The S&P 500 rose 4 points, or 0.2 percent, to 2,271.89. The Dow Jones industrial average slipped 22.05 points, or 0.1 percent, to 19,804.72. The Nasdaq composite index added 16.93, or 0.3 percent, to 5,555.65. Slightly more stocks rose on the New York Stock Exchange than fell.

Stocks have been in a wait-and-see period in recent weeks following their torrid run since Election Day. The S&P 500 is up 6.2 percent since Donald Trump's surprise victory of the White House, driven higher by expectations for lower corporate taxes and less regulation. Trump will take the oath of office on Friday, and investors are waiting to see how much of his campaign-trail rhetoric will become government policy.

"It's natural after such a remarkable run postelection to have a bit of a flat, quiet period as investors wait for some more tangibles," said Katie Nixon, chief investment officer at Northern Trust Wealth Management. "We know directionally where Donald Trump wants to go, and with a Republican Congress he's got a higher probability of success than otherwise, but we don't have the details."

One notable area of weakness in the stock market was retail. This past holiday shopping season was weaker than many traditional retailers were expecting, and Target became the latest to cut its forecast for fourth-quarter sales and profits as a result. The discounter said that traffic levels at its stores were disappointing in November and December, and its stock fell $4.09, or 5.8 percent, to $66.85 following its announcement.

Target had the second-largest loss in the S&P 500, while Dollar Tree and other retailers weren't far behind.

The biggest loss in the S&P 500 came from specialty biopharmaceutical company Mallinckrodt, which fell $2.89, or 5.8 percent, to $46.53 after it agreed to pay $100 million to end a government investigation. Antitrust regulators and five states said Questcor, a company Mallinckrodt bought in 2014, illegally bought the rights to a drug that would have competed with its Acthar gel. The agencies said that deal gave Questcor a monopoly. Questcor raised the price of Acthar from $40 a vial in 2001 to $34,000.

On the opposite side of the S&P 500 was Fastenal, which jumped $2.81, or 5.8 percent, to $51.06 for the biggest gain in the index. The seller of nuts, bolts and other equipment reported stronger fourth-quarter earnings growth than analysts expected.

Treasury yields rose sharply. The yield on the 10-year Treasury note climbed to 2.42 percent from 2.33 percent late Tuesday. It more than made up its loss from the prior day, and continues the steady march higher that bond yields have been on since Election Day. Expectations of higher inflation, along with faster economic growth, have driven the trend.

Consumer prices last month were 2.1 percent higher than the same time a year earlier, according to a Labor Department report released Wednesday. Economists say the inflation rate is still relatively modest, but it's a clear acceleration from the very low levels of the last four years.

The "Beige Book," a survey of conditions by the Federal Reserve released Wednesday afternoon, showed that the U.S. economy grew a bit faster at the end of last year and that pricing pressures "intensified somewhat" since its last report in November.

The Federal Reserve has raised interest rates twice in the last two years, up from their record low of nearly zero. The central bank has said that it plans for a gradual rise in rates. Fed Chair Janet Yellen said in a speech on Wednesday that officials expect to raise rates "a few times a year" through 2019. But a big push higher in inflation could force the Fed's hand.

The dollar rose against many of its rivals, a day after it sank sharply against the British pound and other currencies. The dollar rose to 113.74 Japanese yen from 112.66 late Tuesday. The British pound fell to $1.2284 from $1.2396, and the euro fell to $1.0664 from $1.0709.

In Asian trading, Japan's Nikkei 225 index rose 0.4 percent, and South Korea's Kospi index dipped by 0.1 percent.

In Europe, Germany's DAX rose 0.5 percent, and the U.K. FTSE 100 rose 0.4 percent, while France's CAC 40 fell 0.1 percent.

Benchmark U.S. crude oil fell $1.40 to settle at $51.08 a barrel. Brent crude, the international standard, fell $1.55 to close at $53.92. Natural gas fell 11 cents to $3.302 per 1,000 cubic feet, heating oil fell 4 cents to $1.61 a gallon and wholesale gasoline fell 5 cents to $1.55 per gallon.

Gold slipped 80 cents to $1,212.10 per ounce, silver rose 13 cents to $17.27 per ounce and copper fell 9 cents to $2.62 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -72 points or ▼ -0.37% on Thursday, January 19, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,732.40 ▼ -72.32 ▼ -0.37% . 
 Nasdaq____ 5,540.08 ▼ -15.57 ▼ -0.28% . 
 S&P_500___ 2,263.69 ▼ -8.20 ▼ -0.36% . 
 30_Yr_Bond____ 3.03 ▲ 0.05 ▲ 1.57%   

NYSE Volume           3,153,281,500              
Nasdaq Volume           1,729,029,380              

 *Europe             
Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,208.44 ▼ -39.17 ▼ -0.54% . 
 DAX_____ 11,596.89 ▼ -2.50 ▼ -0.02% . 
 CAC_40__ 4,841.14 ▼ -12.26 ▼ -0.25% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,745.40 ▲ 11.70 ▲ 0.20% . 
 Shanghai_Comp 3,101.30 ▼ -11.71 ▼ -0.38% . 
 Taiwan_Weight 9,318.12 ▼ -23.85 ▼ -0.26% . 
 Nikkei_225___ 19,072.25 ▲ 177.88 ▲ 0.94% . 
 Hang_Seng.__ 23,049.96 ▼ -48.30 ▼ -0.21% . 
 Strait_Times.__ 3,008.22 ▲ 8.00 ▲ 0.27% . 
 NZX_50_Index_ 7,062.36 ▲ 3.09 ▲ 0.04% . 

http://finance.yahoo.com/news/us-stock-indexes-still-treading-water-bond-yields-152550886.html

*Dow erases gain for 2017 as stocks fall, bond yields climb*




STAN CHOE

NEW YORK (AP) — The Dow Jones industrial average erased its gains for 2017 on Thursday as it fell for the fifth day in a row, part of a pullback for stock indexes as Treasury yields continued their upward march.

Losses were widespread, with three stocks falling on the New York Stock Exchange for every one that rose. Utilities, real-estate investment trusts and others that pay big dividends were among the hardest hit because their payouts look less attractive when bond yields are rising. Small company stocks took outsize losses.

The Dow fell 72.23 points, or 0.4 percent, to 19,732.40, slightly lower than where it finished 2016. Still, it's not far from its record closing high of 19,974.62, set one month ago.

The Standard & Poor's 500 index slid 8.20 points, or 0.4 percent, to 2,263.69. The Nasdaq composite gave up 15.57 points, or 0.3 percent, to 5,540.08.

The Russell 2000, which tracks smaller companies, lost 12.81 points, or 0.9 percent, to 1,345.74. The Russell, which surged after the presidential election and finished last year with a gain of almost 20 percent, also turned lower for the year.

Stocks have slowed in January following an electrifying jump higher since Election Day as investors wait to see what a Donald Trump presidency will really mean for stocks. They've already seen the optimistic case, as shown in the 6-percent jump for the S&P 500 after Trump's surprise election victory, propelled by expectations for lower taxes and less regulation on businesses.

But on the possible downside, increased tariffs or trade restrictions could mean drops in profits for big U.S. companies.

"The stock market seems to be perched like a tightrope walker, balanced on the center, but there are a couple hundred-pound weights on each end of the balancing pole," said Rich Weiss, senior portfolio manager at American Century Investments.

Even with all the uncertainties, the market has remained relatively calm. The S&P 500 hasn't swung by 1 percent, either up or down, since early December. And the VIX index, which market pros use to gauge how nervous investors are, is still about 50 percent lower than where it was a year ago.

Weiss calls that "irrational complacency."

Bond yields continued their march higher after more economic reports joined the recently growing pile of encouraging data. The 10-year Treasury yield rose to 2.47 percent from 2.43 percent late Wednesday.

Yields have generally been climbing since Election Day on expectations that President-elect Donald Trump's policies will spur more inflation and economic growth.

The 10-year yield is still below its recent high of just over 2.60 percent reached in mid-December, but it's also well above the 2.09 percent level it was at a year ago. Last July it went as low as 1.36 percent.

One of Thursday's reports showed that the number of workers seeking unemployment claims fell last week to its lowest level in more than 43 years, a sign that corporate layoffs are subsiding. Another report showed that homebuilders broke ground on more new homes in December, capping a solid 2016 for the industry.

A stronger economy could sway the Federal Reserve to raise interest rates more quickly. It has raised rates twice since 2015 after keeping them at record lows near zero since 2008.

Higher yields may also lure income investors back to bonds and away from high-dividend stocks. That hurts real-estate investment trusts and utilities, which pay some of the biggest dividends among publicly traded companies. Those sectors fell more than the rest of the market.

Banks and energy companies, which climbed following the election, also traded lower.

Industrial stocks were among the few stocks that did well as railroad operators surged. CSX led the way with a jump of $8.63, or 23.4 percent, to $45.51. That was its best day since 1980. An activist investor is reportedly teaming up with the executive who turned around Canadian Pacific Railway to target CSX. Union Pacific rose $2.47, or 2.4 percent, to $106.24 after it reported stronger fourth-quarter earnings than expected.

Netflix jumped $5.15, or 3.9 percent, to $138.41 after the video-streaming service reported higher fourth-quarter earnings than analysts expected and strong subscriber growth.

The dollar was mixed against its major rivals. It rose to 114.80 Japanese yen from 113.74 late Wednesday, and the euro dipped to $1.0659. But the British pound rose to $1.2337 from $1.2284.

Benchmark U.S. crude oil rose 29 cents to close at $51.37 a barrel. Brent crude, the international standard, rose 24 cents to $54.16.

In other energy trading, wholesale gasoline lost 1 cent to $1.53 a gallon and heating oil rose 1 cent to $1.62 a gallon. Natural gas rose 7 cents to $3.37 per 1,000 cubic feet.

Gold dropped $10.60 to settle at $1,201.50 an ounce, silver fell 27 cents to $17 an ounce and copper was virtually flat at $2.61 a pound.

The German DAX was virtually flat, the French CAC 40 fell 0.3 percent and the FTSE 100 lost 0.5 percent in London. The Japanese Nikkei 225 index rose 0.9 percent, South Korea's Kospi rose 0.1 percent and Hong Kong's Hang Seng fell 0.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 94.9 points or ▲ 0.48% on Friday, January 20, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,827.25 ▲ 94.85 ▲ 0.48% . 
 Nasdaq____ 5,555.33 ▲ 15.25 ▲ 0.28% . 
 S&P_500___ 2,271.31 ▲ 7.62 ▲ 0.34% . 
 30_Yr_Bond____ 3.05 ▲ 0.01 ▲ 0.46%   

NYSE Volume           3,532,168,000            
Nasdaq Volume           1,644,957,880            

 *Europe             *
* Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,198.44 ▼ -10.00 ▼ -0.14% . 
 DAX_____ 11,630.13 ▲ 33.24 ▲ 0.29% . 
 CAC_40__ 4,850.67 ▲ 9.53 ▲ 0.20% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,709.70 ▼ -35.70 ▼ -0.62% . 
 Shanghai_Comp 3,123.14 ▲ 21.84 ▲ 0.70% . 
 Taiwan_Weight 9,331.46 ▲ 13.34 ▲ 0.14% . 
 Nikkei_225___ 19,137.91 ▲ 65.66 ▲ 0.34% . 
 Hang_Seng.__ 22,885.91 ▼ -164.05 ▼ -0.71% . 
 Strait_Times.__ 3,011.08 ▲ 2.86 ▲ 0.10% . 
 NZX_50_Index_ 7,048.47 ▼ -13.89 ▼ -0.20% . 

http://finance.yahoo.com/news/us-stock-indexes-move-higher-151736086.html

*Stocks edge higher, snapping a 5-day losing streak for Dow*




ALEX VEIGA

Materials companies led U.S. stocks modestly higher Friday, recouping much of the market's loss from a day earlier and snapping a 5-day losing streak for the Dow Jones industrial average.

Another crop of encouraging company earnings news helped lift the market, but investors were mostly focused on events in Washington as Donald Trump was sworn in as the 45th president of the United States.

The major stock indexes pulled back slightly as Trump delivered remarks after taking the oath of office. Among topics of particular interest to Wall Street, the speech touched on trade and the Trump administration's intention of protecting the U.S. from "the ravages of other countries making our products, stealing our companies, and destroying our jobs."

"The market is still embracing the Trump agenda, based on the market's reaction to the speech," said Quincy Krosby, market strategist at Prudential Financial. "Now the question the market has is, specifically, what does all of that mean in terms of trade?"

The Dow rose 94.85 points, or 0.5 percent, to 19,827.25. The Standard & Poor's 500 index gained 7.62 points, or 0.3 percent, to 2,271.31. The Nasdaq composite index added 15.25 points, or 0.3 percent, to 5,555.33.

Despite Friday's gains, the three major stock indexes ended the week lower.

Stocks have slowed in 2017 after surging for several weeks following Election Day on investor optimism that a Trump administration and Republican Congress would usher in business-friendly policies. But the possibility of increased tariffs or trade restrictions has also loomed as a potential drag in profits for big U.S. companies.

"Historically, the market has performed best in the November-April time frame," said Sam Stovall, chief investment strategist at CFRA Research. "The Trump victory added a tailwind to this traditional seasonal factor."

Typically, stocks don't do well on inauguration day. Going back to 1928, the S&P has averaged a drop of 1.05 percent on inauguration days, according Bespoke Investment Group.

Beyond the presidential transition in Washington, investors pored over the latest batch of corporate earnings Friday, bidding up shares in companies that reported results that beat Wall Street's expectations.

Skyworks Solutions jumped 13 percent, the biggest gainer in the S&P 500. The stock climbed $10.21 to $88.67. Citizens Financial Group gained $1.09, or 3.1 percent, to $35.82.

Traders also drove up shares in Procter & Gamble after the consumer goods maker released a strong growth forecast. The stock added $2.75, or 3.2 percent, to $87.45.

Strong subscriber numbers helped lift AT&T, giving a boost to phone company stocks overall. AT&T added 45 cents, or 1.1 percent, to $41.45.

Some companies' earnings failed to impress the market.

General Electric slid 2.2 percent after the conglomerate reported fourth-quarter revenue that fell short of analysts' forecasts. The stock gave up 68 cents to $30.53.

Investors sold off Bristol-Myers Squibb after the drugmaker said it won't pursue accelerated regulatory approval for a two-drug lung cancer treatment. The stock was the biggest decliner in the S&P 500 index, shedding $6.26, or 11.3 percent, to $49.23.

Major stock indexes overseas were mixed Friday.

Germany's DAX rose 0.3 percent, while Britain's FTSE 100 fell 0.1 percent. France's CAC 40 added 0.2 percent. In Asia, Hong Kong's Hang Seng shed 0.7 percent after the Chinese government said the economy grew at a 6.8 percent annual rate in the last quarter, even as full-year growth increased 6.7 percent, the weakest in three decades. Tokyo's Nikkei 225 index rose 0.3 percent.

Benchmark U.S. crude rose $1.05, or 2 percent, to close at $52.42 a barrel in New York. Brent crude, used to price international oils, added $1.33, or 2.5 percent, to close at $55.49 a barrel in London.

In other energy trading, wholesale gasoline gained 3 cents to $1.57 a gallon and heating oil rose 3 cents to $1.65 a gallon. Natural gas slid 16 cents, or 4.9 percent, to $3.20 per 1,000 cubic feet.

Bond prices were little changed. The yield on the 10-year Treasury note held steady at 2.47 percent. Yields have been rising as investors expect inflation to increase.

In currency trading, the dollar fell to 114.31 yen from Thursday's 114.80 yen. The euro rose to $1.0707 from $1.0659. The British pound edged up to $1.2378 from $1.2337.

Gold dropped $3.40 to settle at $1,204.90 an ounce, while silver fell 3 cents to $17.03 an ounce. Copper slipped a penny to $2.63 a pound.

834


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -27 points or ▼ -0.14% on Monday, January 23, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,799.85 ▼ -27.40 ▼ -0.14% . 
 Nasdaq____ 5,552.94 ▼ -2.39 ▼ -0.04% . 
 S&P_500___ 2,265.20 ▼ -6.11 ▼ -0.27% . 
 30_Yr_Bond____ 2.99 ▼ -0.06 ▼ -1.81%   

NYSE Volume           3,150,200,500              
Nasdaq Volume           1,573,201,620              

 *Europe             
Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,151.18 ▼ -47.26 ▼ -0.66% . 
 DAX_____ 11,545.75 ▼ -84.38 ▼ -0.73% . 
 CAC_40__ 4,821.41 ▼ -29.26 ▼ -0.60% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,668.00 ▼ -41.70 ▼ -0.73% . 
 Shanghai_Comp 3,136.77 ▲ 13.64 ▲ 0.44% . 
 Taiwan_Weight 9,424.05 ▲ 92.59 ▲ 0.99% . 
 Nikkei_225___ 18,891.03 ▼ -246.88 ▼ -1.29% . 
 Hang_Seng.__ 22,898.52 ▲ 12.61 ▲ 0.06% . 
 Strait_Times.__ 3,025.48 ▲ 14.40 ▲ 0.48% . 
 NZX_50_Index_ 7,067.85 ▲ 19.38 ▲ 0.27% . 

http://finance.yahoo.com/news/us-stock-indexes-edge-lower-early-trading-oil-152819283.html

*US stock indexes close slightly lower; oil prices slide*




ALEX VEIGA

Energy companies led U.S. stock indexes slightly lower Monday as the price of crude oil fell.

Real estate, phone companies and other high-dividend stocks did better than the rest of the market as bond yields headed lower, making those sectors more appealing to investors seeking income.

Investors focused on the latest batch of company earnings and deal news. They also had their eye on Washington, where President Donald Trump reaffirmed plans to slash regulations on businesses and tax foreign goods entering the country.

"There was that huge rally postelection and things really were running on optimism," said Lisa Kopp, head of traditional investments at U.S. Bank Wealth Management. "What you're seeing now is people coming back to the idea that the policies aren't exactly clear ... and (Trump's) ability to actually push everything through exactly the way he wants is uncertain."

The Dow Jones industrial average fell 27.40 points, or 0.1 percent, to 19,799.85. The Standard & Poor's 500 index slid 6.11 points, or 0.3 percent, to 2,265.20. The Nasdaq composite index lost 2.39 points, or 0.04 percent, to 5,552.94. The Russell 2000, which tracks smaller companies, gave up 4.01 points, or 0.3 percent, to 1,347.84.

The major stock indexes were down slightly early Monday and veered little throughout the day as investors sized up company news and developments out of Washington.

At an early White House meeting with business leaders, Trump repeated a campaign promise to cut regulations by at least 75 percent. He also said there would be advantages to companies that make their products in the U.S., suggesting he will impose a "substantial border tax" on foreign goods entering the country.

Trump also signed a memorandum announcing the United States' intention to withdraw from the multi-nation trade agreement known as the Trans-Pacific Partnership, and said he would renegotiate the North American Free Trade Agreement.

Companies that issued results or outlooks that fell short of Wall Street's forecasts put traders in a selling mood.

McDonald's fell 0.7 percent after the world's biggest hamburger chain reported a fourth-quarter drop in sales at established U.S. locations. The decline snapped a streak of five quarters of increases. The stock shed 88 cents to $121.38.

Halliburton slid 2.9 percent after the provider of oil and gas drilling services warned of weaker demand in markets outside North America and its revenue missed forecasts. The stock shed $1.65 to $54.80.

Corporate deal-related news also moved some stocks.

Kate Spade climbed 3.6 percent after Bloomberg News reported that the handbag maker has attracted takeover interest from Coach, Michael Kors and international companies. Kate Spade rose 64 cents to $18.40.

Sprint gained 2.8 percent following news the mobile phone carrier is buying a 33 percent stake in Tidal, the music streaming service owned by artists including Jay-Z. The stock added 25 cents to $9.18.

Aetna fell 2.7 percent after a federal judge rejected the health insurer's plan to buy rival Humana for about $34 billion. Aetna said it is reviewing the opinion and is considering an appeal. Aetna's stock dropped $3.33 to $119.20.

Meanwhile, Qualcomm fell 12.7 percent on news that Apple is suing the maker of semiconductors, one of its major suppliers, for $1 billion in a patent fight. Qualcomm was the biggest decliner among companies in the S&P 500 index, sliding $8 to $54.88.

The slide in crude prices weighed on the energy sector, which fell 1.1 percent. Oil and gas rig operator Transocean slumped 55 cents, or 3.6 percent, to $14.76.

Benchmark U.S. crude fell 47 cents, or 0.9 percent, to close at $52.75 per barrel in New York. Brent crude, used to price international oils, slid 26 cents, or 0.5 percent, to close at $55.23 per barrel in London.

Major global stock markets mostly fell amid concerns that the Trump administration will pursue trade protectionism policies.

Germany's DAX slid 0.7 percent, while France's CAC-40 fell 0.6 percent. London's FTSE 100 gave up 0.7 percent.

In Asia, a report showed that China's economic growth ticked up in the final quarter of 2016, but the full-year expansion was the weakest in three decades. Hong Kong's Hang Seng was unchanged. Tokyo's Nikkei 225 fell 1.3 percent.

The 10-year Treasury yield slid to 2.40 percent from 2.47 percent late Friday. Yields had generally been climbing since Election Day on expectations that a Trump administration would spur more inflation and economic growth.

In currency markets, the dollar declined to 113 yen from 114.31 yen Friday. The euro rose to $1.0746 from $1.0707.

Among metals, the price of gold gained $10.70, or 0.9 percent, to $1,215.60 an ounce. Silver added 15 cents, or 0.9 percent, to $17.19 an ounce. Copper rose 2 cents to $2.65 a pound.

In other energy trading, wholesale gasoline was little changed at $1.57 a gallon, while heating oil slipped 2 cents to $1.63 a gallon. Natural gas futures rose 4 cents, or 1.2 percent, to $3.24 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 113 points or ▲ 0.57% on Tuesday, January 24, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,912.71 ▲ 112.86 ▲ 0.57% . 
 Nasdaq____ 5,600.96 ▲ 48.01 ▲ 0.86% . 
 S&P_500___ 2,280.07 ▲ 14.87 ▲ 0.66% . 
 30_Yr_Bond____ 3.06 ▲ 0.07 ▲ 2.17%   

NYSE Volume           3,797,166,750              
Nasdaq Volume           1,731,998,500              

 *Europe             
Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,150.34 ▼ -0.84 ▼ -0.01% . 
 DAX_____ 11,594.94 ▲ 49.19 ▲ 0.43% . 
 CAC_40__ 4,830.03 ▲ 8.62 ▲ 0.18% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,706.30 ▲ 38.30 ▲ 0.68% . 
 Shanghai_Comp 3,142.55 ▲ 5.78 ▲ 0.18% . 
 Taiwan_Weight 9,447.95 ▲ 23.90 ▲ 0.25% . 
 Nikkei_225___ 18,787.99 ▼ -103.04 ▼ -0.55% . 
 Hang_Seng.__ 22,949.86 ▲ 51.34 ▲ 0.22% . 
 Strait_Times.__ 3,041.95 ▲ 16.47 ▲ 0.54% . 
 NZX_50_Index_ 7,064.16 ▼ -3.69 ▼ -0.05% .  

http://finance.yahoo.com/news/us-stock-indexes-edge-higher-early-trading-oil-151317003.html

*Materials, financials help lift S&P 500, Nasdaq to new highs*





ALEX VEIGA

U.S. stocks posted solid gains Tuesday, propelling the Standard & Poor's 500 index and Nasdaq composite to all-time highs.

Mining and other materials sector companies rose more than the rest of the market. The sector could benefit from initiatives by the White House to streamline the permitting process for manufacturing and clear the way for pipeline construction.

Financial stocks also rose sharply. Energy companies climbed as crude oil prices closed higher. The rally also swept up stocks in U.S. homebuilders.

Health care, phone companies and other high-dividend stocks were among the biggest laggards as bond yields rose.

While several big companies reported quarterly earnings, investors focused on the latest batch of executive actions from President Donald Trump.

"The importance of this earnings season has been dimmed only because we all realize there's going to be some changes in policy," said J.J. Kinahan, TD Ameritrade's chief strategist. "Now you're trading on the edicts, or whatever they may be, that are coming out of the White House."

The Dow Jones industrial average climbed 112.86 points, or 0.6 percent, to 19,912.71. The S&P 500 index gained 14.87 points, or 0.7 percent, to 2,280.07. That's the highest close for the index since Jan. 6.

The Nasdaq added 48.01 points, or 0.9 percent, to 5,600.96. That's the highest close for the tech-heavy index since Jan. 13.

Small-company stocks outpaced the rest of the market. The Russell 2000 jumped 21.37 points, or 1.6 percent, to 1,369.21.

Trading got off to a sluggish start, with the major stock indexes hovering just above their prior-day levels. Investors bid up shares in several companies that reported better-than-expected earnings, including Kimberly-Clark, which makes Kleenex and other paper products. The company rose $4.81, or 4.1 percent, to $121.79.

Homebuilder D.R. Horton also rose after reporting strong financial results, climbing $1.90, or 6.6 percent to $30.64. DuPont jumped $3.27, or 4.5 percent, to $76.05 after reporting earnings that easily beat analysts' estimates.

But the action in Washington also held the market's interest.

Trump hosted a breakfast meeting with the heads of General Motors, Ford Motor Co. and Fiat Chrysler Automobiles. Prior to the meeting, Trump tweeted that he wants "new plants to be built here for cars sold here." He has warned of a "substantial border tax" on companies that move manufacturing out of the country and promised tax advantages to those that produce domestically.

"They used to call some of this jawboning," said David Winters, CEO of Wintergreen Advisers. "So, far President Trump has been encouraging companies to do what's in his vision of a successful America. There's a lot of enthusiasm, but it's really going to be what happens in the next couple of months in terms of legislation so there's clarity."

Automakers expressed optimism after the meeting. And shares in their companies rose.

GM gained 35 cents, or 1 percent, to $37, while Ford added 30 cents, or 2.4 percent, to $12.61. Fiat Chrysler rose 60 cents, or 5.8 percent, to $10.88.

Trump also signed executive actions to advance construction of the Keystone XL and Dakota Access oil pipelines. President Barack Obama killed the proposed Keystone XL pipeline in late 2015, which would run from Canada to U.S. refineries in the Gulf Coast, saying it would hurt American efforts to reach a global climate change deal.

The Army decided last year to explore alternate routes for the Dakota pipeline after the Standing Rock Sioux tribe and its supporters said the pipeline threatened drinking water and Native American cultural sites.

Mining company Freeport-McMoRan vaulted $1.30, or 8.3 percent, to $17.02, the biggest gainer in the S&P 500 index.

Some companies' financial results put traders in a selling mood.

Verizon slumped 4.4 percent after the phone and communications company served up earnings for the last three months of 2016 that fell short of what analysts were expecting. The company, whose deal to buy Yahoo's internet operations may be in jeopardy, also said that its roster of retail postpaid subscribers fell sharply. The stock fell the most among companies in the S&P 500, sliding $2.29 to $50.12.

Major market indexes in Europe were mixed.

Germany's DAX rose 0.4 percent, while France's CAC 40 added 0.2 percent. Britain's FTSE 100 was flat after the Supreme Court said parliament would have a right to vote on whether Britain formally exits the European Union. The ruling doesn't mean Britain will remain in the EU, but it could delay the process.

In Asia, Japan's benchmark Nikkei 225 slipped 0.6 percent, while Australia's S&P/ASX 200 added 0.7 percent to 5,650.10. South Korea's Kospi slipped 0.01 percent. Hong Kong's Hang Seng gained 0.2 percent.

Benchmark U.S. crude rose 43 cents, or 0.8 percent, to close at $53.18 a barrel in New York. Brent crude, used to price international oils, gained 21 cents, or 0.4 percent, at $55.44 a barrel in London.

In other energy trading, wholesale gasoline rose a penny to $1.58 a gallon, while heating oil added 2 cents to $1.64 a gallon. Natural gas futures rose 4 cents, or 1.1 percent, to $3.28 per 1,000 cubic feet.

Bond prices fell. The 10-year Treasury yield rose to 2.46 percent from 2.40 percent late Monday.

In currency markets, the dollar rose to 113.89 yen from 113 yen the previous day. The euro fell to $1.0723 from $1.0746.

Among metals, the price of gold slid $4.80, or 0.4 percent, to $1,210.80 an ounce. Silver was little changed at $17.19 an ounce. Copper rose 6 cents, or 2.3 percent, to $2.71 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 156 points or ▲ 0.78% on Wednesday, January 25, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,068.51 ▲ 155.80 ▲ 0.78% . 
 Nasdaq____ 5,656.34 ▲ 55.38 ▲ 0.99% . 
 S&P_500___ 2,298.37 ▲ 18.30 ▲ 0.80% . 
 30_Yr_Bond____ 3.11 ▲ 0.05 ▲ 1.70%   

NYSE Volume           3,846,213,500             
Nasdaq Volume           1,836,532,380             

 *Europe             *
* Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,164.43 ▲ 14.09 ▲ 0.20% . 
 DAX_____ 11,806.05 ▲ 211.11 ▲ 1.82% . 
 CAC_40__ 4,877.67 ▲ 47.64 ▲ 0.99% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,726.00 ▲ 19.70 ▲ 0.35% . 
 Shanghai_Comp 3,149.55 ▲ 7.00 ▲ 0.22% . 
 Taiwan_Weight 9,447.95 ▲ 23.90 ▲ 0.25% . 
 Nikkei_225___ 19,057.50 ▲ 269.51 ▲ 1.43% . 
 Hang_Seng.__ 23,049.12 ▲ 99.26 ▲ 0.43% . 
 Strait_Times.__ 3,039.94 ▼ -2.01 ▼ -0.07% . 
 NZX_50_Index_ 7,090.91 ▲ 26.75 ▲ 0.38% . 

http://finance.yahoo.com/news/dow-hits-20-000-following-150618644.html

*Dow Jones industrial average breaks through 20,000 milestone*




Alex Veiga

The Dow Jones industrial average crossed the 20,000 mark for the first time Wednesday, the latest milestone in a record-setting drive for the stock market.

Strong earnings from Boeing and other big companies helped push the Dow past the threshold early on. U.S. stocks closed solidly higher, lifting the Standard & Poor's 500 index and Nasdaq composite to record highs of their own for the second day in a row.

Banks and other financial companies led the gainers, which included technology and industrials. Real estate, phone companies and other high-dividend stocks lagged the broader market as bond yields rose.

"It's a psychological event to get through that big hurdle, that big round number," said Jeff Kravetz, regional investment strategist at U.S. Bank's Private Client Reserve. "It's really symbolic of what's going on with investor sentiment becoming much more positive, and that's going to drive stock prices higher."

The Dow, which tracks 30 major industrial companies, gained 155.80 points, or 0.8 percent, to 20,068.51. The S&P 500 index rose 18.30 points, or 0.8 percent, to 2,298.37. The Nasdaq added 55.38 points, or 1 percent, to 5,656.34.

Small-company stocks also rose. The Russell 2000 picked up 13.23 points, or 1 percent, to 1,382.44.

The market has been marching steadily higher since bottoming out in March 2009 in the aftermath of the financial crisis. The rally continued after the election of Donald Trump as U.S. president last fall. The Dow first closed above 10,000 on March 29, 1999.

Wednesday's rally came against a backdrop of optimism on Wall Street that executive actions and policy goals announced by the Trump administration this week on trade, manufacturing and business deregulation will be good for corporate America.

"Whether it's tax reform or infrastructure spending, any of those tend to be optimistic conversations for the markets currently," said Darrell Cronk, president of Wells Fargo Investment Institute. "We have to wait and see how they play out, obviously. The danger here, if there is one, is that the market gets ahead of itself a little bit."

Most professional investors are skeptical the Dow at 20,000 will have much effect on the market. They more often look to the S&P 500 index as a benchmark, because they consider it better representation of the broad market.

"In and of itself, it is just a number," said Quincy Krosby, market strategist at Prudential Financial. "But what it does is it lifts market expectations, in essence, to continue moving higher."

If the Dow reaching 20,000 has any impact, it will likely be a psychological one. Investors have been leery of the stock market for years, unable to stomach the prospect of losing more than 50 percent of their money for a second time if another financial crisis hits.

That trepidation has caused them to pull money out of stock funds — even as the Dow made its march toward 20,000 — and depend instead on safer bond investments.

Last year, investors pulled a net $27.1 billion out of U.S. stock mutual funds and exchange-traded funds, according to Morningstar. A year earlier, they yanked $66.5 billion. Over the same time, investors plugged a total of $218.6 billion into taxable bond funds.

Anyone who resisted the urge to dump their stock investments through all the tumult of the last decade is now seeing the full benefit of a market with the Dow at 20,000.

A $10,000 investment in the largest U.S. stock mutual fund made a decade ago, before the Great Recession began, would have dropped below $5,000 by March 2009. But investors who held on even through the worries of another recession hitting, U.S. debt downgrade, the euro crisis and uncertainties over Britain's departure from the European Union would now be sitting on nearly $20,000.

This is expected to be the busiest week for corporate earnings news, with about 30 percent of the companies in the S&P 500 reporting quarterly results.

Several companies rose on results that exceeded Wall Street's expectations.

Boeing was the biggest gainer in the Dow. The aircraft manufacturer climbed $6.81, or 4.2 percent, to $167.36.

Seagate's latest quarterly snapshot drove its shares 14 percent higher, to lead all other companies in the S&P 500. The stock added $5.23 to $42.67.

Investors also bid up shares in Rockwell Automation, which rose $10.98, or 7.7 percent, to $153.01, and Logitech, which vaulted 15.5 percent. The computer gaming and accessories maker's shares added $3.90 to $29.

Some companies posted earnings that failed to impress investors.

Textron slumped 5.4 percent after the defense contractor's fourth-quarter revenue missed financial analysts' estimates. The company also announced it is buying snowmobile maker Arctic Cat in a deal valued at about $247 million. Textron was the biggest decliner in the S&P 500, sliding $2.65 to $46.73.

Mining company Freeport-McMoRan fell 3.1 percent after it served up quarterly results that missed analysts' forecasts. The stock slid 52 cents to $16.50.

Major stock indexes in Europe moved higher.

Germany's DAX rose 1.8 percent, while the CAC-40 in France gained 1 percent. The FTSE 100 index of leading British shares rose 0.2 percent.

Earlier in Asia, Tokyo's Nikkei 225 surged 1.4 percent after Japan's government said that the nation had a trade surplus in 2016, its first in six years. Hong Kong's Hang Seng rose 0.4 percent. South Korea's Kospi rose 0.1 percent.

Energy prices mostly declined. Benchmark U.S. crude fell 43 cents to $52.75 a barrel in New York. Brent crude, used to price international oils, slid 36 cents at $55.08 a barrel in London.

Bond prices fell. The 10-year Treasury yield rose to 2.52 percent from 2.47 percent late Tuesday.

In currency trading, the dollar fell to 113.60 yen from 113.89 on Tuesday. The euro rose to $1.0743 from $1.0723.

Among metals, the price of gold slid $13, or 1.1 percent, to $1,197.80 an ounce. Silver fell 21 cents to $16.98 an ounce. Copper was little changed at $2.71 a pound.

In other energy trading, wholesale gasoline fell 5 cents to $1.52 a gallon, while heating oil slid 3 cents to $1.61 a gallon. Natural gas futures rose 5 cents, or 1.6 percent, to $3.33 per 1,000 cubic feet.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 32.4 points or ▲ 0.16% on Thursday, January 26, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,100.91 ▲ 32.40 ▲ 0.16% . 
 Nasdaq____ 5,655.18 ▼ -1.16 ▼ -0.02% . 
 S&P_500___ 2,296.68 ▼ -1.69 ▼ -0.07% . 
 30_Yr_Bond____ 3.09 ▼ -0.02 ▼ -0.55%   

NYSE Volume           3,602,559,750              
Nasdaq Volume           1,751,014,120              

 *Europe             
Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,161.49 ▼ -2.94 ▼ -0.04% . 
 DAX_____ 11,848.63 ▲ 42.58 ▲ 0.36% . 
 CAC_40__ 4,867.24 ▼ -10.43 ▼ -0.21% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,726.00 ▲ 19.70 ▲ 0.35% HOLIDAY 
 Shanghai_Comp 3,159.17 ▲ 9.61 ▲ 0.31% . 
 Taiwan_Weight 9,447.95 ▲ 23.90 ▲ 0.25% . 
 Nikkei_225___ 19,402.39 ▲ 344.89 ▲ 1.81% . 
 Hang_Seng.__ 23,374.17 ▲ 325.05 ▲ 1.41% . 
 Strait_Times.__ 3,051.78 ▲ 11.84 ▲ 0.39% . 
 NZX_50_Index_ 7,113.33 ▲ 22.42 ▲ 0.32% .  

http://finance.yahoo.com/news/us-stock-indexes-edge-higher-151655867.html

*US stock indexes drift mostly lower; Dow ekes out gain*




ALEX VEIGA

The Dow Jones industrial average inched further into record territory Thursday, eking out a gain while the broader U.S. market indexes drifted lower.

The Dow's gain came a day after closing above 20,000 for the first time. The Standard & Poor's 500 index and Nasdaq composite posted small losses, snapping two days of consecutive record highs.

More stocks fell than rose on the New York Stock Exchange. Financial stocks led the gainers, while health care companies lagged the most.

With about 30 percent of the companies in the S&P 500 index serving up earnings this week, the quarterly report cards continued to be a focus for investors Thursday.

"Earnings have come in strong, for sure," said Patrick Schaffer, global investment specialist, J.P. Morgan Private Bank. "The market continues to digest some of the earnings news, and obviously markets don't go up or down in a straight line."

The S&P 500 index fell 1.69 points, or 0.1 percent, to 2,296.68. The Nasdaq slid 1.16 points, or 0.02 percent, to 5,655.18. The Dow rose 32.40 points, or 0.2 percent, to 20,100.91.

Small-company stocks did worse than the rest of the market. The Russell 2000 lost 6.84 points, or 0.5 percent, to 1,375.60.

It's been a record-making week on Wall Street. The S&P 500 index and Nasdaq composite closed at all-time highs on Tuesday and Wednesday. The Dow, which tracks 30 major industrial companies, added its own milestone Wednesday after it breached the 20,000 mark for the first time.

The market is getting a boost from strong company earnings and investor optimism that the Trump administration's policies on taxes, regulation and trade will be good for business.

On Thursday, the stock indexes wavered between small gains and losses for most of the day as investors sized up the latest company earnings news.

Several companies got a boost after they reported results that exceeded Wall Street's expectations, including Sherwin-Williams. The paint and coatings company also said it expects to complete its $11.3 billion purchase of Valspar within 90 days after making a relatively small divestiture. The stock gained $21.58, or 7.6 percent, to $305.

Traders welcomed an optimistic 2017 forecast and good bookings from Royal Caribbean Cruises. The cruise operator's stock jumped $7.97, or 9.1 percent, to $95.64.

New Commerce Department data indicating sales of new U.S. homes fell 10.4 percent in December didn't weigh on PulteGroup. The homebuilder's quarterly earnings and sales beat financial analysts' estimates, lifting its shares 74 cents, or 3.6 percent, to $21.18.

United Rentals led the gainers in the S&P 500. The equipment rentals company announced it would acquire construction company NES Rentals for $965 million. United Rentals vaulted $12.80, or 11.2 percent, to $127.06.

A slump in toy sales over the holidays dampened Mattel's latest results. The toymaker was the biggest decliner in the S&P 500, sliding $5.57, or 17.7 percent, to $25.99.

Investors also were put off by McKesson's fiscal third-quarter results, which were hurt by weaker-than-expected prices. McKesson lost $12.55, or 8.3 percent, to $138.55.

Whirlpool tumbled 8.5 percent after the appliance maker said Britain's impending departure from the European Union hurt its profits. The stock fell $16.26 to $173.94.

Beyond the ongoing wave of company earnings reports, investors will be looking Friday to a key gauge of the U.S. economy's health when the Commerce Department delivers its estimate of what the nation's gross domestic product was in the final quarter of 2016.

Major stock indexes overseas were mixed Thursday.

Germany's DAX rose 0.4 percent, while the CAC-40 in France slipped 0.2 percent. The FTSE 100 index of leading British shares was flat. In Asia, Japan's Nikkei 225 surged 1.8 percent and South Korea's Kospi gained 0.8 percent. Hong Kong's Hang Seng index rose 1.4 percent. Markets in China, Hong Kong, South Korea and other Asian countries are about to begin holidays of varying lengths to mark the lunar new year, curtailing trading across much of the region.

Bond prices rose. The 10-year Treasury yield slid to 2.50 percent from 2.52 percent late Wednesday.

The dollar increased to 114.42 yen from 113.60 on Wednesday. The euro fell to $1.0692 from $1.0743.

Energy prices moved broadly higher.

Benchmark U.S. crude oil rose $1.03, or 2 percent, to close at $53.78 a barrel in New York. Brent crude, used to price international oils, gained $1.16, or 2.1 percent, to close at $56.24 a barrel in London. Wholesale gasoline rose 2 cents to $1.54 a gallon, while heating oil added 3 cents to $1.64 a gallon. Natural gas futures rose 5 cents, or 1.5 percent, to $3.38 per 1,000 cubic feet.

In other commodity trading, the price of gold fell $8, or 0.7 percent, to $1,189.80 an ounce. Silver slid 13 cents to $16.85 an ounce. Copper gave up 4 cents to $2.67 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -7.1 points or ▼ -0.04% on Friday, January 27, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,093.78 ▼ -7.13 ▼ -0.04% . 
 Nasdaq____ 5,660.78 ▲ 5.61 ▲ 0.10% . 
 S&P_500___ 2,294.69 ▼ -1.99 ▼ -0.09% . 
 30_Yr_Bond____ 3.06 ▼ -0.03 ▼ -1.04%   

NYSE Volume           3,136,117,750             
Nasdaq Volume           1,606,558,000             

 *Europe             *
* Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,184.49 ▲ 23.00 ▲ 0.32% . 
 DAX_____ 11,814.27 ▼ -34.36 ▼ -0.29% . 
 CAC_40__ 4,839.98 ▼ -27.26 ▼ -0.56% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,765.60 ▲ 39.60 ▲ 0.69% . 
 Shanghai_Comp 3,159.17 ▲ 9.61 ▲ 0.31% . 
 Taiwan_Weight 9,447.95 ▲ 23.90 ▲ 0.25% . 
 Nikkei_225___ 19,467.40 ▲ 65.01 ▲ 0.34% . 
 Hang_Seng.__ 23,360.78 ▼ -13.39 ▼ -0.06% . 
 Strait_Times.__ 3,064.85 ▲ 13.07 ▲ 0.43% . 
 NZX_50_Index_ 7,134.26 ▲ 20.93 ▲ 0.29% . 

http://finance.yahoo.com/news/us-stock-indexes-edge-lower-152641797.html

*Energy companies lead US stock indexes mostly lower*




ALEX VEIGA

Wall Street capped a week of milestones Friday with a day of listless trading that left U.S. stock indexes mostly lower.

Energy companies declined the most as the price of crude oil fell. Health care stocks posted the biggest gain.

Quarterly results from Microsoft, Starbucks and other big companies continued to be in focus. Bond yields fell after the government reported that the economy lost momentum in the last three months of 2016.

More stocks fell than rose on the New York Stock Exchange. This week all three major indexes set all-time highs, including the Dow Jones industrial average, which held above the 20,000 mark after crossing that threshold for the first time on Wednesday.

"We've had an OK week," said Jason Pride, director of investment strategy at Glenmede. "Having a day when you just give back a little bit is not a bad thing."

The Dow fell 7.13 points, or 0.04 percent, to 20,093.78. The Standard & Poor's 500 index slid 1.99 points, or 0.1 percent, to 2,294.69. The Nasdaq composite index rose 5.61 points, or 0.1 percent, to 5,660.78. The tiny gain was enough to set another all-time high for the Nasdaq.

Small-company stocks did worse than the rest of the market. The Russell 2000 lost 4.89 points, or 0.4 percent, to 1,370.70.

The market drifted between small gains and losses through much of the day as investors weighed company earnings and new data on the U.S. economy.

The Commerce Department said the U.S. economy grew at an annual rate of just 1.9 percent in the last three months of 2016, a slowdown from 3.5 percent in the previous quarter. For 2016, the economy grew 1.6 percent, the worst showing since 2011 and down from 2.6 percent in 2015.

A separate government report showed businesses spent more on industrial machinery, semiconductors and other big-ticket items last month, a sign U.S. manufacturers seem to be doing better after a two-year slump.

The economic snapshots sent bond prices higher. The 10-year Treasury yield fell to 2.48 percent from 2.51 percent late Thursday.

"The market right now is at sort of at a crossroads," said Tom Siomades, head of Hartford Funds Investment Consulting Group. "We hit that huge psychological barrier and busted through it when we hit (Dow) 20,000 ... but today's GDP number came in, for the most part, below expectations and brought everyone back down to earth."

Companies that posted disappointing quarterly results or outlooks for 2017 helped steer the market lower.

Starbucks slid $2.34, or 4 percent, to $56.12 a day after the coffee chain reported weak sales growth and cut its sales forecast for the year.

Chevron also turned in weaker-than-expected results. The oil company was the biggest decliner in the Dow, losing $2.76, or 2.4 percent, to $113.79.

Colgate-Palmolive tumbled 5.2 percent after its fourth-quarter sales missed analysts' estimates. The company's 2017 forecast also disappointed investors. The stock fell $3.56 to $64.68.

Companies that served up better results got a boost.

Microsoft rose 2.4 percent, making it the biggest gainer in the Dow. The software giant reported stronger-than-expected quarterly results, largely due to its focus on online services and business software rather than its legacy Windows operating system. The stock gained $1.51 to $65.78.

Wynn Resorts surged 8 percent after it reported revenue that beat Wall Street's forecasts. The stock led all the gainers in the S&P 500, climbing $7.58 to $103.08.

So far, 33.8 percent of the companies in the S&P 500 index have reported quarterly results for the last three months of 2016, according to S&P Global Market Intelligence. And 40 percent of those have posted results that beat financial analysts' forecasts, the firm said.

Investors also remained focused on the latest moves by President Donald Trump. His spokesman said the administration was considering slapping a 20 percent tax on imports from Mexico to help pay for his promised border wall, in an announcement that left markets uncertain about what it means for trade.

"I don't know anyone who would think of a trade war as good thing, or tariffs," Siomades said. "When you start going down that path, then the market all of a sudden retracts and says, 'Wait a minute, we have 1.9 percent GDP growth, how are higher tariffs and restriction on trade going to make that better?'"

Benchmark U.S. crude oil fell 61 cents, or 1.1 percent, to close at $53.17 a barrel in New York. Brent crude, used to price international oils, slid 72 cents, or 1.3 percent, to close at $55.52 a barrel in London.

Major stock indexes in Europe and Asia were mixed.

Germany's DAX fell 0.3 percent, while France's CAC 40 slid 0.6 percent. Britain's FTSE 100 gained 0.3 percent. In Asia, Japan's benchmark Nikkei 225 index climbed 0.3 percent, helped by the dollar's surge against the Japanese yen, while Hong Kong's Hang Seng slipped 0.1 percent.

Many Asian countries have begun holidays of varying lengths, curtailing trading across much of the region. Markets in China, South Korea and Taiwan were closed while Malaysia's was open only in the morning.

In currency trading, the dollar strengthened to 115.09 yen from 114.42 yen on Thursday. The euro rose to $1.0698 from $1.0692.

Among metals, the price of gold slipped $1.40 to $1,188.40 an ounce. Silver rose 29 cents to $17.14 an ounce. Copper added 2 cents to $2.70 a pound.

In other energy trading, wholesale gasoline dropped 2 cents to $1.53 a gallon, while heating oil fell 2 cents to $1.62 a gallon. Natural gas futures rose 1 cent to $3.39 per 1,000 cubic feet.

1146


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -123 points or ▼ -0.61% on Monday, January 30, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,971.13 ▼ -122.65 ▼ -0.61% . 
 Nasdaq____ 5,613.71 ▼ -47.07 ▼ -0.83% . 
 S&P_500___ 2,280.90 ▼ -13.79 ▼ -0.60% . 
 30_Yr_Bond____ 3.08 ▲ 0.02 ▲ 0.59%   

NYSE Volume           3,589,166,500              
Nasdaq Volume           1,683,892,750              

 *Europe             
Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,118.48 ▼ -66.01 ▼ -0.92% . 
 DAX_____ 11,681.89 ▼ -132.38 ▼ -1.12% . 
 CAC_40__ 4,784.64 ▼ -55.34 ▼ -1.14% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,714.30 ▼ -51.30 ▼ -0.89% . 
 Shanghai_Comp 3,159.17 ▲ 9.61 ▲ 0.31% . 
 Taiwan_Weight 9,447.95 ▲ 23.90 ▲ 0.25% . 
 Nikkei_225___ 19,368.85 ▼ -98.55 ▼ -0.51% . 
 Hang_Seng.__ 23,360.78 ▼ -13.39 ▼ -0.06% . 
 Strait_Times.__ 3,064.85 ▲ 13.07 ▲ 0.43% . 
 NZX_50_Index_ 7,085.56 ▼ -48.70 ▼ -0.68% . 

http://finance.yahoo.com/news/trump-travel-ban-hits-tech-152128712.html

*Drops for post-election winners drag stocks lower*




MARLEY JAY

NEW YORK (AP) — U.S. stocks fell Monday as investors grew nervous following President Donald Trump imposed a travel ban on seven Muslim-majority countries. Energy companies, which have surged over the last year, took the biggest losses.

Airlines skidded after Trump's executive order led to protests and disruption at airports and concerns about travel. Big-name technology companies sagged on concerns that future administration moves will make it harder for them to hire workers.

Investors took profits as they sold shares of basic materials and industrial companies, which have rallied the November election. The VIX, a measure of Wall Street volatility, jumped, though it remains relatively low overall. Stocks in Europe lost ground as well.

Sameer Samana, strategist for Wells Fargo Investment Institute, said investors are not overly alarmed by the news of the travel ban, but aren't sure what to make of it, either.

"It's very difficult to figure out exactly what implications it has for the economy and for markets," he said.

The Dow Jones industrial average fell 122.65 points, or 0.6 percent, to 19,971.13. It dropped as much as 223 points in the morning. The Standard & Poor's 500 index lost 13.79 points, or 0.6 percent, to 2,280.90.

The Nasdaq composite dropped 47.07 points, or 0.8 percent, to 5,613.71 after it closed at an all-time high Friday. Small-company stocks were hit harder. The Russell 2000 index shed 18.37 points, or 1.3 percent, to 1,352.33.

Late Friday Trump suspended the U.S. refugee program for 120 days and blocked travel to the U.S. by citizens of seven countries. His order is being challenged in court. Some airports became hosting grounds for protests, and investors wondered if American tourism will be affected. American Airlines fell $2.05, or 4.4 percent, to $44.90 and United Continental lost $2.70, or 3.6 percent, to $71.72.

Domestic airlines also struggled, and so did other companies that don't necessarily have much at stake in disputes over immigration policy or global trade.

Samana said there's no specific reason that the recent moves would hurt bank profits or small domestically-focused companies, for example, and they may not cause long-term trouble for airlines. Instead, the stocks did the worst Monday are largely the ones that have done the best since the election, including energy companies, banks, and smaller companies.

Construction and mining company Caterpillar fell $2.20, or 2.2 percent, to $96.79 and construction and technical services company Jacobs Engineering dipped 98 cents, or 1.6 percent, to $59.38.

Construction materials company Vulcan skidded $3.63, or 2.7 percent, to $130.73 and chemicals maker DuPont dropped $1.70, or 2.2 percent, to $76.

The day's largest losses went to energy companies, which have surged over the last year as the price of oil recovered from a deep drop. Chevron retreated $1.97, or 1.7 percent, to $111.82 and ConocoPhillips fell $1.95, or 3.9 percent, to $47.48.

U.S. crude oil slid 54 cents, or 1 percent, to $52.63 a barrel in New York. Brent crude, the benchmark for international oil prices, fell 29 cents to $55.23 a barrel in London.

Rite Aid plunged after Walgreens said it will cut the price it's paying to buy its rival to no more than $7 per share from $9. That came after the companies said they will sell more of Rite Aid's stores to get antitrust regulators to approve the deal. Walgreens said it may have to sell up to 1,200 Rite Aid stores, about a quarter of the company's total. Rite Aid sank $1.21, or 17.5 percent, to $5.72. Walgreens edged down 2 cents to $81.48.

Mattress maker Tempur Sealy hit a three-year low after it said retailer Mattress Firm is moving to terminate its supply contracts with the company. Tempur Sealy said Mattress Firm wanted to make big changes to supply agreements and the two sides weren't able to reach a compromise. It expects the two companies to stop doing business during the first quarter. Tempur Sealy said it made 21 percent of its net sales last year to Mattress Firm. Its stock fell $17.70, or 28 percent, to $45.49.

Fitness tracker maker Fitbit dropped $1.15, or 16 percent, to $6.06 after the company posted weak fourth-quarter sales and said it will eliminate about six percent of its jobs, or about 110 positions.

Bond prices slipped. The yield on the 10-year Treasury note rose to 2.49 percent from 2.48 percent.

The dollar fell to 113.67 yen from 115.09 yen. The euro dipped to $1.0695 from $1.0698.

In other energy trading, natural gas futures fell 13 cents, or 3.8 percent, to $3.23 per 1,000 cubic feet. Wholesale gasoline lost 2 cents to $1.51 a gallon. Heating oil dipped 1 cent to $1.61 a gallon.

The price of gold rose $4.80 to $1,193.20 an ounce. Silver added 2 cents to $17.15 an ounce. Copper lost 3 cents, or 1.3 percent, to $2.66 a pound.

The DAX of Germany fell 1.1 percent and the French CAC-40 also shed 1.1 percent while Britain's FTSE 100 was 0.9 percent lower. Japan's Nikkei 225 fell 0.5 percent. Other major indexes in Asia were closed for the Chinese New Year.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -107 points or ▼ -0.54% on Tuesday, January 31, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,864.09 ▼ -107.04 ▼ -0.54% . 
 Nasdaq____ 5,614.79 ▲ 1.07 ▲ 0.02% . 
 S&P_500___ 2,278.87 ▼ -2.03 ▼ -0.09% . 
 30_Yr_Bond____ 3.05 ▼ -0.03 ▼ -0.84%   

NYSE Volume           4,085,741,000             
Nasdaq Volume           1,902,330,500             

 *Europe             *
* Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,099.15 ▼ -19.33 ▼ -0.27%  
 DAX_____ 11,535.31 ▼ -146.58 ▼ -1.25% 
 CAC_40__ 4,748.90 ▼ -35.74 ▼ -0.75% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,675.00 ▼ -39.30 ▼ -0.69% . 
 Shanghai_Comp 3,159.17 ▲ 9.61 ▲ 0.31% HOLIDAY 
 Taiwan_Weight 9,447.95 ▲ 23.90 ▲ 0.25% HOLIDAY 
 Nikkei_225___ 19,041.34 ▼ -327.51 ▼ -1.69% . 
 Hang_Seng.__ 23,360.78 ▼ -13.39 ▼ -0.06% HOLIDAY 
 Strait_Times.__ 3,046.80 ▼ -18.05 ▼ -0.59% . 
 NZX_50_Index_ 7,050.75 ▼ -34.81 ▼ -0.49% . 



http://finance.yahoo.com/news/weak-...ocks-lower-second-day-151240263--finance.html

*Stocks battle to a mixed finish as drugmakers rally*




MARLEY JAY

NEW YORK (AP) — U.S. stocks fought their way to a mixed finish Tuesday as drugmakers rallied, which mostly canceled out losses for industrial companies. Investors shifted their money to less risky investments for the second day in a row.

For the second straight day, stocks started with substantial losses. Industrial companies, which have climbed lately, fell the most as UPS tumbled after a weak fourth-quarter report. Banks also slipped.

Investors bid up assets that are traditionally seen as less risky, including gold, government bonds, and stocks that pay big dividends. Drug companies also rallied after President Donald Trump met with industry executives and discussed ideas including faster drug approvals and lower taxes.

Jim Paulsen, chief investment strategist for Wells Capital Management, said investors are looking for safer investments because the change from Barack Obama's administration to Donald Trump's has created so many changes in government.

"More than anything right now, it's just the pace of news," he said. "It is so dramatic."

The stock market made huge gains after Trump was elected last fall, and Paulsen said it's not a surprise that investors would sell some of their holdings, take some profits, and move to lower-risk investments at some point.

The Dow Jones industrial average sank 107.04 points, or 0.5 percent, to 19,864.09 as companies like Goldman Sachs and Boeing returned some of their recent gains.

The S&P 500 lost 2.03 points, or 0.1 percent, to 2,278.87. It fell as much as 13 points early on. The S&P 500 has fallen for four days in a row. While that is its longest losing streak since before the presidential election, the losses have been small.

The Nasdaq composite gained 1.07 points to 5,614.79. The Russell 2000 index of small-company stocks rose 9.49 points, or 0.7 percent, to 1,361.82. On the New York Stock Exchange, more stocks rose than fell.

Athletic apparel maker Under Armour plunged after investors were disappointed with its fourth-quarter report, which included higher expenses. Under Armour also issued a weak full-year forecast and said its chief financial officer is leaving. The stock tumbled $7.45, or 25.7 percent, to $21.49. It dropped 30 percent last year and is now trading at its lowest price in two years.

United Parcel Service sank after the package delivery company forecast an annual profit that was far smaller than analysts expected. UPS expects to earn no more than $6.10 a share this year while FactSet says experts expected $6.15 per share. UPS gave up $7.90, or 6.8 percent, to $109.13 and FedEx fell $4.14, or 2.1 percent, to $189.11. That helped pull industrial companies lower.

Drug companies jumped after Trump said he wants less regulation on prescription drugs because that could speed up drug approvals. While Trump again said he wants to reduce drug prices, investors seemed pleased with proposals that could reduce drugmakers' costs and boost their profits, as well as with the tone of the meeting.

Just three weeks ago Trump said drugmakers were "getting away with murder" on prices.

The Nasdaq Biotech index climbed 2.8 percent. Companies that make both generic and name-brand drugs traded higher, as did prescription drug distributors.

After the market closed, Apple reported a bigger profit and greater sales than analysts expected as iPhone sales bounced back from a recent slump. The tech giant's stock rose 2.6 percent in after-hours trading.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.46 percent from 2.49 percent. That hurt financial stocks, as lower bond yields reduce interest rates and the profits banks make from lending.

Investors who want income also bought stocks that pay outsize dividends, including real estate investment trusts and utility companies. Shopping mall operators Simon Property Group and GGP both traded higher after their quarterly reports. Simon gained $6.03, or 3.4 percent, to $183.77 and GGP rose 88 cents, or 3.7 percent, to $24.84.

The price of gold and silver made their biggest jumps in two weeks. Gold rose $15.40, or 1.3 percent, to $1,211.40 an ounce. Silver gained 39 cents, or 2.3 percent, to $17.54 an ounce. Copper picked up 7 cents, or 2.7 percent, to $2.73 a pound. That was its largest move in three weeks.

Another day of protests against parts of Trump's agenda and challenges for some of his cabinet nominees who haven't been confirmed by Congress made investors a bit more nervous early in the day. The VIX, an index known as Wall Street's "fear gauge," jumped 9 percent around midday, but finished only 1 percent higher. It had climbed Monday.

U.S. crude oil rose 18 cents to $52.81 a barrel in New York. Brent crude, the benchmark for international oil prices, added 47 cents to $55.70 a barrel in London. However energy companies continued to decline. After big gains over the last year, especially in November and early December, energy companies have done worse than the rest of the market. Exxon Mobil lost 97 cents, or 1.1 percent, to $83.89.

Natural gas companies fell as the price of that fuel fell 12 cents, or 3.6 percent, to $3.12 per 1,000 cubic feet. In other energy trading, wholesale gasoline rose 2 cents to $1.53 a gallon. Heating oil picked up 1 cent to $1.61 a gallon.

The dollar fell to 112.76 yen from 113.67 yen. The euro rose to $1.0803 from $1.0695.

Germany's DAX lost 1.3 percent and the CAC 40 of France fell 0.7 percent. The FTSE 100 index in Britain lost 0.3 percent. Japan's benchmark Nikkei 225 dipped 1.7 percent. The South Korean Kospi lost 0.8 percent. Markets in Hong Kong, China and Taiwan were closed for Lunar New Year holidays.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 26.9 points or ▲ 0.14% on Wednesday, February 1, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,890.94 ▲ 26.85 ▲ 0.14% . 
 Nasdaq____ 5,642.65 ▲ 27.86 ▲ 0.50% . 
 S&P_500___ 2,279.55 ▲ 0.68 ▲ 0.03% . 
 30_Yr_Bond____ 3.08 ▲ 0.03 ▲ 0.98% . 

NYSE Volume           3,883,369,250             
Nasdaq Volume           2,228,748,250          

 *Europe       *
* Symbol... .....Last ….....Change....... .. * 
 FTSE_100 7,107.65 ▲ 8.50 ▲ 0.12% . 
 DAX_____ 11,659.50 ▲ 124.19 ▲ 1.08% . 
 CAC_40__ 4,794.58 ▲ 45.68 ▲ 0.96% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,704.00 ▲ 29.00 ▲ 0.51% . 
 Shanghai_Comp 3,159.17 ▲ 9.61 ▲ 0.31% . 
 Taiwan_Weight 9,447.95 ▲ 23.90 ▲ 0.25% . 
 Nikkei_225___ 19,148.08 ▲ 106.74 ▲ 0.56% . 
 Hang_Seng.__ 23,318.39 ▼ -42.39 ▼ -0.18% .. 
 Strait_Times.__ 3,067.49 ▲ 20.69 ▲ 0.68% . 
 NZX_50_Index_ 7,055.50 ▲ 4.75 ▲ 0.07% . 

http://finance.yahoo.com/news/stock...e-climbs-better-sales-150920135--finance.html

*Apple surges on iPhone sales; stock indexes wobble*




Marley Jay, AP Markets Writer

NEW YORK (AP) -- Investors didn't react much to a strong hiring survey or the Federal Reserve's decision to leave interest rates unchanged Wednesday, and U.S. stock indexes finished pretty much where they started. Apple soared after it said iPhone sales improved in its latest quarter.

Stocks jumped in morning trading after payroll provider ADP said hiring by private employers grew stronger in January. Bond prices climbed. But the market's gains thinned, partly because investors sold shares of companies that pay big dividends as bond yields rose.

Stocks briefly turned higher after the Fed's announcement, but that also faded. The only constant was the big gain for Apple, which pushed technology companies higher.

The Federal Reserve left its key interest rate unchanged, just as investors expected. The central bank noted that the job market is getting stronger and inflation is gradually rising, but said it wants more time to monitor the economy.

That's what investors expected. Kate Warne, an investment strategist for Edward Jones, noted that the central bank just increased rates in December and the Trump administration's spending and fiscal plans still haven't been spelled out.

"They'll wait until they actually know what's going to happen," she said of the Fed.

The Dow Jones industrial average rose 26.85 points, or 0.1 percent, to 19,890.94. The Standard & Poor's 500 inched up 0.68 points to 2,279.55. The Nasdaq composite, which has a high concentration of technology companies, gained 27.86 points, or 0.5 percent, to 5,642.65. The Russell 2000 index of smaller company stocks dipped 0.60 points to 1,361.23. Most stocks listed on the New York Stock Exchange fell.

Apple made its biggest one-day jump six months after its first-quarter profit and sales were better than analysts expected. The company said consumers snapped up its new iPhone 7 and 7 Plus, and that ended the first-ever slump in iPhone sales. Apple stock rose $7.44, or 6.1 percent, to $128.79. Apple was singlehandledly responsible for the Dow gain and it helped take technology stocks higher.

Investors haven't focused on company earnings recently because of the flood of political news and other factors, but Warne said results like Apple's will help the market.

"The fact that we're seeing solid earnings and they're coming in better than expected ... will help sustain stocks over time," she said.

Chipmaker Advanced Micro Devices reported a profit when analysts expected a loss, and its sales were greater than expected. Its stock climbed $1.69, or 16.3 percent, to $12.06.

The ADP jobs survey was better than expected, and the construction, manufacturing, health care and shipping industries all added jobs at a solid pace. The U.S. government will release its own monthly jobs report Friday.

Investors reacted to the hiring report by selling bonds, which are relatively safe investments that are in greater demand when the economy seems weaker. The yield on the 10-year Treasury note rose to 2.48 percent from 2.44 percent.

Stocks that pay large dividends traded lower as bond yields rose. Dominion Resources dropped $4.43, or 5.8 percent, to $71.85. Dominion also released a weak quarterly report.

Oil prices stayed within a small range. U.S. crude added $1.07, or 2 percent, to close at $53.88 a barrel in New York. Brent crude, the benchmark for international oil prices, gained $1.22, or 2.2 percent, to $56.80 a barrel in London. U.S. oil has stayed between roughly $52 and $55 a barrel for the last two months.

The S&P 500's energy company index fell for the fifth day in a row. It's down almost 3.5 percent over that time and has sunk 7 percent since Dec. 13.

Lightweight aluminum products maker Arconic surged after its largest shareholder said the company needs new leadership. Elliott Management nominated five potential directors to Arconic's board. The company said it stands by CEO Klaus Kleinfeld and that Elliott's moves are not in the best interest of all shareholders.

Since Arconic split from Alcoa on Nov. 1, Arconic stock was almost flat and Alcoa has jumped almost 70 percent. Arconic gained $2.55, or 11.2 percent, to $25.28.

The dollar rose to 113.09 yen from 112.76 yen. The euro fell to $1.0744 from $1.0803.

In other energy trading, wholesale gasoline rose 3 cents, or 1.9 percent, to $1.58 a gallon. Heating oil added 4 cents, or 2.6 percent, to $1.67 a gallon. Natural gas rose 5 cents, or 1.6 percent, to $3.17 per 1,000 cubic feet.

The price of gold slipped $3.10 to $1,208.30 an ounce. Silver lost 9 cents to $17.45 an ounce. Copper fell 2 cents to $2.71 1 pound.

Stocks in Europe got a boost from the hiring survey and a report that said manufacturing in China grew at its fastest pace in two years in January. Heavy government spending and more lending by banks helped keep the economy steady. Germany's DAX added 1.1 percent while the CAC 40 of France rose 1 percent. The FTSE 100 index in Britain picked up 0.1 percent. Japan's Nikkei 225 rose 0.6 percent after a skid on Tuesday. The Kospi in South Korea jumped 0.6 percent. Hong Kong's Hang Seng fell 0.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -6 points or ▼ -0.03% on Thursday, February 2, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 19,884.91 ▼ -6.03 ▼ -0.03% . 
 Nasdaq____ 5,636.20 ▼ -6.45 ▼ -0.11% . 
 S&P_500___ 2,280.85 ▲ 1.30 ▲ 0.06% . 
 30_Yr_Bond____ 3.08 ▲ 0.00 ▲ 0.06% . 

NYSE Volume           3,807,674,250              
Nasdaq Volume           2,075,214,250           

 *Europe           
Symbol... .....Last ….....Change....... .. * 

 FTSE_100 7,140.75 ▲ 33.10 ▲ 0.47% . 
 DAX_____ 11,627.95 ▼ -31.55 ▼ -0.27% . 
 CAC_40__ 4,794.29 ▼ -0.29 ▼ -0.01% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,696.40 ▼ -7.60 ▼ -0.13% . 
 Shanghai_Comp 3,159.17 ▲ 9.61 ▲ 0.31% . 
 Taiwan_Weight 9,428.97 ▼ -18.98 ▼ -0.20% . 
 Nikkei_225___ 18,914.58 ▼ -233.50 ▼ -1.22% . 
 Hang_Seng.__ 23,184.52 ▼ -133.87 ▼ -0.57% .. 
 Strait_Times.__ 3,044.08 ▼ -23.41 ▼ -0.76% . 
 NZX_50_Index_ 7,053.54 ▼ -1.96 ▼ -0.03% . 

http://finance.yahoo.com/news/stocks-mixed-early-trading-wall-street-152303157--finance.html

*Stocks end little changed as investors digest earnings*




KEN SWEET

NEW YORK (AP) — Stocks ended Thursday's trading mostly unchanged, as cautious investors focus a large batch of earnings reports from U.S. companies, including Facebook and Merck.

Ryder System, a truck leasing company, fell 8 percent after reporting earnings that fell far short of what Wall Street analysts were expecting. Ralph Lauren plunged 12 percent after announcing that Stefan Larsson, who took over as CEO for Ralph Lauren less than two years ago, is leaving the company.

The Dow Jones industrial average lost 6.03 points, or less than 0.1 percent, to 19,884.91. The Standard & Poor's 500 index rose 1.30 points, or 0.1 percent, to 2,280.85 and the Nasdaq composite fell 6.45 points, or 0.1 percent, to 5,636.20.

After a post-election rally that pushed stocks to all-time highs and the Dow above the 20,000-point mark, investors have stepped back this week. Several actions by President Trump, from his immigration ban last weekend, to his various comments on trade, have given investors some concern about whether Trump is hurting U.S. business confidence and the economy more than he's helping.

"The overall economic and financial backdrop for the market looks quite good, but Trump's comments are spreading some uncertainty," said David Kelly, chief global strategist at J.P. Morgan Asset Management.

Some of that uncertainty could come Friday with the government's jobs report for January. For this report, the first that will be at least partially under the tenure of President Trump, economists are expecting employers created 175,000 jobs in January, and the unemployment rate remained at 4.7 percent, according to FactSet. However some recent data, including Wednesday's ADP private sector report, has given some traders hope for a jobs report over 200,000.

Along with being important to investors as an economic indicator, the report is likely to be politically fraught. President Trump has called for measuring unemployment in different ways, through non-traditional metrics like the labor participation rate or the unemployment rate that includes measurements of workers in part-time jobs who want full-time work.

Investors had a large batch of earnings and company news to work through on Thursday.

Clothing company Ralph Lauren sank $10.76, or 12 percent, to $77.61 after the company's CEO unexpectedly departed the company, after less than two years in the position. Stefan Larsson came from Old Navy and had been charged with turning around the iconic clothing brand as its founder continues step back from the company.

Facebook fell $2.39, or 1.8 percent, to $130.84 despite the company reporting results that easily exceeded analysts' expectations. The company continues to see huge growth in mobile and video advertising, which has bolstered its bottom line.

U.S. government bond prices were mostly unchanged with the yield on the 10-year Treasury note holding steady at 2.47 percent. The euro slipped to $1.0764 from $1.0774 and the dollar fell to 112.70 yen from 113.09 yen.

Benchmark U.S. crude fell 34 cents to close at $53.54 a barrel on the New York Mercantile Exchange. Brent crude, the benchmark for international oil prices, fell 24 cents to $56.92 a barrel in London.

In other energy commodities, heating oil lost 2 cents to $1.65 a gallon and wholesale gasoline fell 5 cents to $1.53 a gallon. Natural gas rose 2 cents to $3.19 per thousand cubic feet.

In the metals markets, gold rose $11.10 to $1,219.40 an ounce, silver fell 2 cents to $17.43 an ounce and copper fell 3 cents to $2.686 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 187 points or ▲ 0.94% on Friday, February 3, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,071.46 ▲ 186.55 ▲ 0.94% . 
 Nasdaq____ 5,666.77 ▲ 30.57 ▲ 0.54% . 
 S&P_500___ 2,297.42 ▲ 16.57 ▲ 0.73% . 
 30_Yr_Bond____ 3.11 ▲ 0.03 ▲ 1.01% . 

NYSE Volume           3,597,550,250             
Nasdaq Volume           1,790,591,250            

 *Europe          *
* Symbol... .....Last ….....Change....... .. * 
 FTSE_100 7,188.30 ▲ 47.55 ▲ 0.67% . 
 DAX_____ 11,651.49 ▲ 23.54 ▲ 0.20% . 
 CAC_40__ 4,825.42 ▲ 31.13 ▲ 0.65% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,672.50 ▼ -23.90 ▼ -0.42% . 
 Shanghai_Comp 3,140.17 ▼ -19.00 ▼ -0.60% . 
 Taiwan_Weight 9,455.56 ▲ 26.59 ▲ 0.28% . 
 Nikkei_225___ 18,918.20 ▲ 3.62 ▲ 0.02% . 
 Hang_Seng.__ 23,129.21 ▼ -55.31 ▼ -0.24% .. 
 Strait_Times.__ 3,041.94 ▼ -2.14 ▼ -0.07% . 
 NZX_50_Index_ 7,094.38 ▲ 40.84 ▲ 0.58% . 


http://finance.yahoo.com/news/us-stocks-jump-following-strong-150703585.html

*Banks lead stock surge as investors hope for regulation cuts*




MARLEY JAY

NEW YORK (AP) — Banks and other financial companies made big gains Friday after President Donald Trump moved to scale back regulations on the financial industry. Other stocks also rose as investors were also pleased that employers hired workers at a faster pace in January.

Financial stocks made their biggest gains since shortly after the presidential election as Trump took his first steps to reduce regulations, which could boost profits for investment firms.

The Labor Department said hiring sped up last month, a positive sign for the economy. Small-company stocks, which stand to benefit more than others from stronger economic growth, make sharp gains.

Financial companies have made huge gains since Trump's election, and his pledge to cut laws and rules that govern the industry is a major reason.

"They're going to benefit from not having all of this onerous red tape," said Karyn Cavanaugh of Voya Investment Strategies. "That's why we see the rallies every time they talk about regulation."

Cavanaugh said a reduction in regulations could also help banks lend more and speed up economic growth, which could benefit many other industries.

The Dow Jones industrial average jumped 186.55 points, or 0.9 percent, to 20,071.46. The Standard & Poor's 500 index advanced 16.57 points, or 0.7 percent, to 2,297.42. The Nasdaq composite picked up 30.57 points, or 0.5 percent, to close at a record high of 5,666.77.

The Russell 2000 index of smaller-company stocks climbed 20.41 points, or 1.5 percent, to 1,377.84. Smaller, domestically-focused companies may have more to gain than their larger peers from faster growth in the U.S. The Russell made big gains at the end of 2016 based on those hopes.

On Friday Trump directed the Treasury Secretary to look for potential changes to the Dodd-Frank law, which reshaped financial regulations after the 2008-09 financial crisis. The order does not have any immediate impact, but investors applauded its intent.

Trump also signed a memorandum that delayed an Obama-era rule that requires financial professionals who charge commissions to put their clients' interests first when giving advice on retirement investments.

JPMorgan Chase added $2.59, or 3.1 percent, to $87.18 and Goldman Sachs rose $10.54, or 4.6 percent, to $240.95. Morgan Stanley gained $2.30, or 5.5 percent, to $44.43. Smaller banks, which could find it easier to lend money if regulations are cut, also traded higher. Texas Capital Bancshares picked up $2.85, or 3.4 percent, to $86.10 and East West Bancorp rose $2.26, or 4.5 percent, to $52.72.

U.S. employers added 227,000 jobs in January, according to the Labor Department. That's more than last year's average monthly gain of 187,000. The unemployment rate ticked up to a low 4.8 percent from 4.7 percent in December as more people started looking for work. That helped smaller companies and industrial stocks, both of which would benefit from faster economic growth.

Visa said shoppers stepped up their use of debit and credit cards in the latest quarter, and the payment processing company also benefited from its acquisition of Visa Europe. Its profit and revenue were stronger than analysts expected, and Visa's stock jumped $3.78, or 4.6 percent, to $86.08.

Online retail giant Amazon traded lower as investors grew concerned about its sales. The company's fourth-quarter sales fell short of analyst estimates, and so did its forecast for revenue in the current quarter. The stock gave up $29.75, or 3.5 percent, to $810.20.

Macy's stock soared after the Wall Street Journal reported that Hudson's Bay Co., the owner of Saks Fifth Avenue, could buy the department store chain. The companies declined to comment.

Macy's jumped $1.97, or 6.4 percent, to $32.69. The stock has been trading around five-year lows. Hudson's Bay stock rose almost 4 percent in Toronto.

Biotech drugmaker Amgen disclosed a bigger profit and better sales than analysts had expected. It also reported results from a study that showed its new cholesterol drug Repatha reduced the risk of death, heart attack and stroke in patients with advanced atherosclerotic cardiovascular disease. That could help boost prescriptions for the drug. Amgen jumped $7.95, or 5 percent, to $167.53.

Underwear, t-shirt and sock maker Hanesbrands announced surprisingly weak holiday sales and gave disappointing projections for the year. Its stock slumped $3.73, or 16.4 percent, to $18.98, its lowest price in almost three years.

Bond prices wobbled, then turned higher. The yield on the 10-year Treasury note fell to 2.47 percent from 2.48 percent.

Benchmark U.S. crude added 29 cents to $53.83 a barrel in New York. Brent crude, used to price international oils, added 25 cents to $56.81 a barrel in London.

Gold inched up $1.40 to $1,220.80 an ounce. Silver added 5 cents to $17.48 an ounce. Copper lost 7 cents, or 2.6 percent, to $2.62 a pound.

In other energy trading, wholesale gasoline rose 2 cents to $1.55 a gallon. Heating oil picked up 1 cent to $1.67 a gallon. Natural gas dropped 12 cents, or 3.9 percent, to $3.06 per 1,000 cubic feet.

The dollar rose to 112.96 yen from 112.70 yen. The euro inched up to $1.0765 from $1.0764.

France's CAC 40 jumped 0.6 percent. The British FTSE 100 rose 0.7 percent while Germany's DAX added 0.2 percent. The Nikkei 225 in Tokyo finish almost unchanged and Seoul's Kospi added 0.1 percent. The Hang Seng in Hong Kong shed 0.2 percent.

1380


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -19 points or ▼ -0.09% on Monday, February 6, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,052.42 ▼ -19.04 ▼ -0.09% . 
 Nasdaq____ 5,663.55 ▼ -3.21 ▼ -0.06% . 
 S&P_500___ 2,292.56 ▼ -4.86 ▼ -0.21% . 
 30_Yr_Bond____ 3.05 ▼ -0.07 ▼ -2.12% . 

NYSE Volume           3,100,525,000              
Nasdaq Volume           1,815,237,750           

 *Europe           
Europe           
Symbol... .....Last ….....Change....... ..  
 FTSE_100 7,172.15 ▼ -16.15 ▼ -0.22% . 
 DAX_____ 11,509.84 ▼ -141.65 ▼ -1.22% . 
 CAC_40__ 4,778.08 ▼ -47.34 ▼ -0.98% . **

 Asia Pacific             
Symbol...... ….......Last .....Change…......  
 ASX_All_Ord___ 5,665.40 ▼ -7.10 ▼ -0.13% . 
 Shanghai_Comp 3,156.98 ▲ 16.81 ▲ 0.54% . 
 Taiwan_Weight 9,538.01 ▲ 82.45 ▲ 0.87% . 
 Nikkei_225___ 18,976.71 ▲ 58.51 ▲ 0.31% . 
 Hang_Seng.__ 23,348.24 ▲ 219.03 ▲ 0.95% .. 
 Strait_Times.__ 3,056.91 ▲ 14.97 ▲ 0.49% . 
 NZX_50_Index_ 7,094.38 ▲ 40.84 ▲ 0.58% . 

http://finance.yahoo.com/news/us-stock-indexes-edge-lower-151751499.html

US stocks close lower, snap S&P 500's 3-day winning streak




	

		
			
		

		
	
  ALEX VEIG

Energy companies led U.S. stocks slightly lower Monday as the price of crude oil declined, snapping a three-day winning streak for the Standard & Poor's 500 index.

Phone company and real estate stocks were also among the big decliners. Technology and industrial companies eked out tiny gains.

Investors are continuing to focus on company earnings reports this week as they size up the health of Corporate America.

With just over half of all the companies in the S&P 500 having reported quarterly results, most have posted annual earnings growth. But that hasn't been enough to significantly move the stock market, which remains at near-record levels.

"A lot of this earnings growth we're seeing now is already priced in," said David Schiegoleit, managing director at the Private Client Reserve at U.S. Bank. "It would have to extend further in order to push markets higher."

The Dow Jones industrial average fell 19.04 points, or 0.1 percent, to 20,052.42. The S&P 500 index slid 4.86 points, or 0.2 percent, to 2,292.56. The Nasdaq composite index gave up 3.21 points, or 0.1 percent, to 5,663.55. On Friday the Nasdaq closed at a record high and the S&P 500 came within a point of its own all-time high.

The major stock indexes were headed lower from the start of trading Monday. They drifted a bit early on, but remained in the red most of the day.

Disappointing results and outlooks from several companies put traders in a selling mood.

Newell Brands slid 5.7 percent after the maker of Rubbermaid, Sharpie, Elmer's Glue and other products reported disappointing sales and issued a full-year sales forecast that fell far short of analysts' estimates. The company said the strong dollar and fewer people shopping at malls hurt sales of some key products. The stock gave up $2.66 to $44.23.

Sysco fell 2.6 percent after the food distributor reported better earnings, but its revenue was weaker than expected. The stock lost $1.34 to $51.20.

Few companies got a bigger lift from earnings news than Hasbro.

The toymaker vaulted 14.1 percent after it posted fourth-quarter profit and sales that beat Wall Street's estimates, aided by better sales of toys marketed to girls, including Disney Princess and Frozen products. The stock led all the gainers in the S&P 500, climbing $11.68 to $94.31. Rival Mattel also got a lift, adding 10 cents to $25.92.

Tyson Foods fell 3.5 percent after the company disclosed in a quarterly filing that it has received a subpoena from the Securities and Exchange Commission as part of an antitrust probe. The stock shed $2.26 to $63.13.

News of an executive shake-up at Tiffany & Co. sent shares in the jewelry company lower.

CEO Frederic Cumenal had stepped down on Sunday amid concerns about the company's financial performance. Tiffany said it had already begun to search for a successor. Michael Kowalski, chairman of the board of directors and previous CEO of Tiffany, was tapped to serve as interim CEO. Tiffany shed $1.98, or 2.5 percent, to $78.49.

Energy futures were broadly lower, weighing on oil and gas companies.

Benchmark U.S. crude fell 82 cents, or 1.5 percent, to close at $53.01 a barrel in New York. Brent crude, used to price international oils, lost $1.09, or 1.9 percent, to $55.72 a barrel in London.

In other energy trading, wholesale gasoline fell 4 cents to $1.51 a gallon, while heating oil slid 3 cents to $1.64 a gallon. Natural gas futures slipped a penny to $3.05 per 1,000 cubic feet.

Offshore drilling services company Transocean fell 43 cents, or 3.1 percent, to $13.54. Devon Energy slid $1.52, or 3.2 percent, to $45.27, while Chesapeake Energy dipped 19 cents, or 2.9 percent, to $6.38.

Major stock indexes in Europe closed lower Monday.

Germany's DAX fell 1.2 percent, while France's CAC 40 slid 1 percent. Britain's FTSE 100 edged 0.2 percent lower. Earlier in Asia, Japan's benchmark Nikkei 225 added 0.3 percent, while Hong Kong's Hang Seng rose 1.0 percent. Australia's S&P/ASX 200 lost earlier gains and inched down 0.1 percent. South Korea's Kospi gained 0.2 percent. Benchmarks were also higher in Taiwan and Singapore.

Bond prices rose. The 10-year Treasury yield fell to 2.42 percent from 2.47 percent late Friday.

The euro fell to $1.0748 from $1.0765 on Friday. The dollar slipped to 111.83 yen from 112.96 yen.

Among metals, the price of gold rose $11.30 to $1,232.10 an ounce. Silver added 21 cents to $17.69 an ounce. Copper rose 4 cents to $2.65 a pound.




*


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 37.9 points or ▲ 0.19% on Tuesday, February 7, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,090.29 ▲ 37.87 ▲ 0.19% . 
 Nasdaq____ 5,674.22 ▲ 10.66 ▲ 0.19% . 
 S&P_500___ 2,293.08 ▲ 0.52 ▲ 0.02% . 
 30_Yr_Bond____ 3.02 ▼ -0.03 ▼ -0.95% . 

NYSE Volume           3,450,396,750              
Nasdaq Volume           1,993,811,000           

 *Europe           
Symbol... .....Last ….....Change....... .. * 
 FTSE_100 7,186.22 ▲ 14.07 ▲ 0.20% . 
 DAX_____ 11,549.44 ▲ 39.60 ▲ 0.34% . 
 CAC_40__ 4,754.47 ▼ -23.61 ▼ -0.49% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,672.60 ▲ 7.20 ▲ 0.13% . 
 Shanghai_Comp 3,153.09 ▼ -3.90 ▼ -0.12% . 
 Taiwan_Weight 9,554.56 ▲ 16.55 ▲ 0.17% . 
 Nikkei_225___ 18,910.78 ▼ -65.93 ▼ -0.35% . 
 Hang_Seng.__ 23,331.57 ▼ -16.67 ▼ -0.07% .. 
 Strait_Times.__ 3,071.64 ▲ 14.73 ▲ 0.48% . 
 NZX_50_Index_ 7,067.05 ▼ -27.33 ▼ -0.39% . 

http://finance.yahoo.com/news/us-stock-indexes-veer-higher-152029352.html

*Tiny move: Nasdaq notches new high as US stocks inch higher*




ALEX VEIGA

Wall Street capped a subdued day of trading Tuesday with a tiny gain and another milestone.

After spending much of the day drifting between small gains and losses, U.S. stock indexes closed slightly higher, nudging the Nasdaq composite to another high, eclipsing the record it set last Friday.

Consumer goods makers and technology companies rose. Energy companies fell along with the price of crude oil.

For the most part, investors continued to focus on the latest batch of company earnings and outlooks. But traders also have an eye on lawmakers in Washington to gauge whether expectations of business-friendly policies, which helped fuel the market rally last fall, will be fulfilled.

"Certainly earnings have been supportive, but the other thing that's been supportive is the hope that we'll get some policy stimulus," said Mike Baele, managing director at the Private Client Reserve at U.S. Bank. "Now we're waiting to see if that hope is justified or not."

The Dow Jones industrial average rose 37.87 points, or 0.2 percent, to 20,090.29. The Standard & Poor's 500 index added 0.52 points, or 0.02 percent, to 2,293.08. The Nasdaq gained 10.67 points, or 0.2 percent, to 5,674.22. The Russell 2000 index of small-company stocks fell 5.60 points, or 0.4 percent, to 1,361.06.

More stocks fell than rose on the New York Stock Exchange.

Several oil and gas companies slumped as crude prices fell. Chevron fell the most among the 30 companies in the Dow, shedding $1.59, or 1.4 percent, to $111.39. Other big energy decliners included Newfield Exploration, which slid $1.69, or 4.2 percent, to $39.02, and Murphy Oil, which gave up $1.14, or 3.9 percent, to $27.95.

Energy sector stocks were the best performers in 2016, riding a rebound in oil prices on the way to a gain of 23.7 percent. This year, though, the sector is off 5.1 percent, the second-biggest decliner behind phone companies.

"Concern over additional supply coming into the market has hit some of the energy stocks," Baele said.

Benchmark U.S. crude slid 84 cents, or 1.6 percent, to close at $52.17 a barrel in New York. Brent crude, which is used to price international oils, fell 67 cents, or 1.2 percent, to close at $55.05 a barrel in London.

Disappointing quarterly results or outlooks weighed down several stocks, including Michael Kors. The luxury retailer, which gave weak guidance for its current quarter and cut its estimates for the year, was the biggest decliner in the S&P 500 index. The stock slumped $4.46, or 10.8 percent, to $36.82.

General Motors fell 4.7 percent after the automaker said its earnings declined in the fourth quarter as costs increased. The stock gave up $1.73 to $35.10.

Sabre tumbled 10.5 percent after the travel industry technology provider issued a forecast for 2017 that fell short of Wall Street's estimates. The stock shed $2.60 to $22.21.

Traders bid up shares in companies that posted better-than-expected quarterly results, including health insurer Centene, which climbed $3.37, or 5.3 percent, to $67.

Emerson Electric gained 4.5 percent. The company, which makes process controls systems, valves and analytical instruments, also raised its estimates for the rest of the year. The stock rose $2.68 to $62.54.

More than half of the companies in the S&P 500 index have reported quarterly results so far, and more than 60 percent have posted earnings that beat financial analysts' estimates, noted Erik Davidson, chief investment officer at Wells Fargo Private Bank.

"We haven't seen a lot of earnings growth in the past several quarters, so the market is excited to see that," Davidson said.

The major stock indexes in Europe were mixed.

Germany's DAX index added 0.3 percent, while France's CAC 40 was 0.5 percent lower. The FTSE 100 index of leading British shares was up 0.2 percent. Earlier in Asia, Tokyo's Nikkei 225 index lost 0.4 percent, while Sydney's S&P-ASX 200 rose 0.1 percent. Seoul's Kospi slid 0.1 percent, while India's Sensex shed 0.6 percent.

In other energy trading, wholesale gasoline fell 2 cents to $1.49 a gallon, while heating oil slid 1 cent to $1.62 a gallon. Natural gas futures gained 8 cents, or 2.6 percent, to $3.13 per 1,000 cubic feet.

Bond prices rose. The 10-year Treasury yield fell to 2.39 percent from 2.41 percent late Monday.

In currency trading, the dollar rose to 112.19 yen from 111.83 on Monday. The euro fell to $1.0696 from $1.0748.

Among metals, the price of gold added $4 to $1,236.10 an ounce. Silver added 6 cents to $17.76 an ounce. Copper fell 2 cents to $2.63 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -36 points or ▼ -0.18% on Wednesday, February 8, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,054.34 ▼ -35.95 ▼ -0.18% . 
 Nasdaq____ 5,682.45 ▲ 8.24 ▲ 0.15% . 
 S&P_500___ 2,294.67 ▲ 1.59 ▲ 0.07% . 
 30_Yr_Bond____ 2.96 ▼ -0.06 ▼ -1.92% . 

NYSE Volume           3,604,521,750              
Nasdaq Volume           1,994,444,000           

 *Europe           
Symbol... .....Last ….....Change....... .. * 
 FTSE_100 7,188.82 ▲ 2.60 ▲ 0.04% . 
 DAX_____ 11,543.38 ▼ -6.06 ▼ -0.05% . 
 CAC_40__ 4,766.60 ▲ 12.13 ▲ 0.26% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,703.40 ▲ 30.80 ▲ 0.54% . 
 Shanghai_Comp 3,166.98 ▲ 13.89 ▲ 0.44% . 
 Taiwan_Weight 9,543.25 ▼ -11.31 ▼ -0.12% . 
 Nikkei_225___ 19,007.60 ▲ 96.82 ▲ 0.51% . 
 Hang_Seng.__ 23,485.13 ▲ 153.56 ▲ 0.66% .. 
 Strait_Times.__ 3,066.53 ▼ -5.11 ▼ -0.17% . 
 NZX_50_Index_ 7,066.27 ▼ -0.78 ▼ -0.01% .  

http://finance.yahoo.com/news/us-stock-indexes-move-lower-152217396.html

*New Nasdaq record on mixed day for US stocks as oil rebounds*




ALEX VEIGA

Utilities, real estate and other big-dividend-paying companies led U.S. stocks mostly higher Wednesday, pushing the Nasdaq composite to a new record for the second day in a row.

The gains by big-dividend-paying stocks came as bond yields fell, making those traditional safe-haven companies more attractive to investors seeking income. Banks and other financial stocks were the market's biggest laggards.

While investors have been focused in recent weeks on companies reporting their quarterly results, they are also trying to size up whether the Trump administration will deliver on expectations of business-friendly policies that helped fuel the market rally last fall.

"You're beginning to see investors hedging some of their concerns, whether it's an escalation in the debate between the White House and the judges on the (travel) ban, or concerns over the direction of the elections coming up in the Eurozone," said Quincy Krosby, market strategist at Prudential Financial. "The question really is whether or not those concerns intensify."

The Standard & Poor's 500 index rose 1.59 points, or 0.1 percent, to 2,294.67. The Dow Jones industrial average fell 35.95 points, or 0.2 percent, to 20,054.34. The Nasdaq added 8.24 points, or 0.2 percent, to 5,682.45. The index also closed at a record high on Tuesday and last Friday. The Russell 2000 index of small-company stocks fell 2.32 points, or 0.2 percent, to 1,358.74.

Bond prices rose. The 10-year Treasury yield fell to 2.34 percent from 2.40 percent late Tuesday. That yield is a benchmark used to set interest rates on many kinds of loans including home mortgages.

The stock indexes headed lower as trading opened Wednesday and investors weighed the latest company earnings. The market recovered some of its losses by midmorning after crude oil prices turned higher following an early slide.

Benchmark U.S. crude rose 17 cents, or 0.3 percent, to close at $52.34 a barrel in New York. Brent crude, the benchmark for international oil prices, climbed 7 cents, or 0.1 percent, to close at $55.12 a barrel in London.

Investors bid up shares in companies that posted better-than-expected quarterly results and outlooks.

Strong fiscal third-quarter earnings propelled Microchip Technology 6 percent higher, making it the biggest gainer in the S&P 500. The stock climbed $4.18 to $73.80.

Myriad Genetics jumped 7.3 percent after the diagnostic test maker said sales of hereditary cancer tests have resumed rising, driving revenue to the highest level in three years. The stock gained $1.12 to $16.52.

Panera Bread's latest results and forecast helped boost the bakery chain $18.63, or 8.7 percent, to $232.90.

Botox-maker Allergan also got a lift from its quarterly report card, adding $8.56, or 3.7 percent, to $241.17.

Several companies served up earnings and forecasts that fell short of Wall Street's expectations, sending their shares lower.

Akamai Technologies tumbled 10.6 percent after the cloud services company's latest guidance disappointed investors. The stock was the biggest decliner in the S&P 500, sliding $7.57 to $63.55.

Gilead Sciences slumped 8.6 percent after the biotechnology company forecast disappointing sales of its hepatitis C drugs. The stock gave up $6.30 to $66.83.

Zillow Group slid 7.6 percent after the online real estate information company posted quarterly results that included a tally of monthly unique users that fell short of Wall Street's expectations. The stock lost $2.83 to $34.33.

More than half of the companies in the S&P 500 index have reported quarterly results so far, and roughly 60 percent have posted earnings that beat financial analysts' estimates.

Coca-Cola, Twitter and Viacom are among the big companies due to report results Thursday.

Major stock indexes in Europe were mixed.

Germany's DAX fell 0.1 percent, while France's CAC 40 rose 0.3 percent. The FTSE 100 index of leading British shares was flat. Earlier in Asia, Tokyo's Nikkei 225 rebounded from early losses to rise 0.5 percent, while Hong Kong's Hang Seng added 0.7 percent. Sydney's S&P ASX 200 gained 0.5 percent.

In other energy futures trading, wholesale gasoline rose 7 cents, or 4.4 percent, to $1.55 a gallon, while heating oil added 1 cent to $1.64 a gallon. Natural gas futures were little changed at $3.13 per 1,000 cubic feet.

Among metals, the price of gold added $3.40 to $1,239.50 an ounce. Silver fell 5 cents to $17.71 an ounce. Copper rose 3 cents to $2.67 a pound.

The dollar fell to 112.05 yen from 112.19 yen on Tuesday. The euro weakened to $1.0687 from $1.0696.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 118 points or ▲ 0.59% on Thursday, February 9, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,172.40 ▲ 118.06 ▲ 0.59% . 
 Nasdaq____ 5,715.18 ▲ 32.73 ▲ 0.58% . 
 S&P_500___ 2,307.87 ▲ 13.20 ▲ 0.58% . 
 30_Yr_Bond____ 3.01 ▲ 0.05 ▲ 1.69% . 

NYSE Volume           3,676,746,500              
Nasdaq Volume           1,970,747,380           

 *Europe           
Symbol... .....Last ….....Change....... .. * 
 FTSE_100 7,229.50 ▲ 40.68 ▲ 0.57% . 
 DAX_____ 11,642.86 ▲ 99.48 ▲ 0.86% . 
 CAC_40__ 4,826.24 ▲ 59.64 ▲ 1.25% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,717.70 ▲ 14.30 ▲ 0.25% . 
 Shanghai_Comp 3,183.18 ▲ 16.20 ▲ 0.51% . 
 Taiwan_Weight 9,590.18 ▲ 46.93 ▲ 0.49% . 
 Nikkei_225___ 18,907.67 ▼ -99.93 ▼ -0.53% . 
 Hang_Seng.__ 23,525.14 ▲ 40.01 ▲ 0.17% .. 
 Strait_Times.__ 3,079.96 ▲ 13.43 ▲ 0.44% . 
 NZX_50_Index_ 7,121.63 ▲ 55.36 ▲ 0.78% . 

http://finance.yahoo.com/news/us-stock-indexes-modestly-higher-152648744.html

*Strong company earnings drive US stock indexes to new highs*




ALEX VEIGA

Strong company earnings put investors in a buying mood Thursday, lifting the major U.S. stock indexes to record highs.

Banks and other financial companies led the rally as bond yields rose. Energy also notched big gains as crude oil prices rose. Utilities and materials lagged the broader market.

Traders have been focused in recent weeks on companies reporting their quarterly results as they size up Corporate America's prospects for growth. They're also keeping an eye on Washington D.C. to gauge whether the Trump administration will deliver on expectations of business-friendly policies that helped drive a market rally last fall.

"You're definitely seeing a kind of risk-on (trade) right now, with the fear of missing out overshadowing the fear of a policy mistake," said Chris Zaccarelli, chief investment officer for Cornerstone Financial. "You're seeing a recovery in corporate profits, and that's definitely giving investors some extra confidence."

The Dow Jones industrial average rose 118.06 points, or 0.6 percent, to 20,172.40. The Standard & Poor's 500 index gained 13.20 points, or 0.6 percent, to 2,307.87. The Nasdaq composite index added 32.73 points, or 0.6 percent, to 5,715.18. The Nasdaq has now set a record high three times this week, in addition to last Friday.

The Russell 2000 index of small-company stocks outpaced the rest of the market. It climbed 19.79 points, or 1.5 percent, to 1,378.53.

About 61 percent of the companies in the S&P 500 reported earnings as of Wednesday. Going by that, company earnings in the October-December quarter are up 6.7 percent from a year earlier, according to S&P Global Market Intelligence.

"The earnings season is turning out to be pretty good," said Phil Blancato, CEO of Ladenburg Thalmann Asset Management. "We're starting to see some real earnings growth."

Investors bid up shares in companies that turned in better earnings or outlooks than Wall Street was expecting, including Gannett, Kellogg and Dunkin' Brands.

Gannett, publisher of USA Today and other newspapers, added 35 cents, or 4 percent, to $9.05, while Kellogg gained $2.95, or 4 percent, to $76.44. Dunkin' Brands climbed $2.16, or 4.2 percent, to $54.13.

Traders also welcomed Viacom's latest quarterly results and the media giant's plans to turn its business around. The owner of BET, Comedy Central, MTV, Nickelodeon and the Paramount film studio rose $1.82, or 4.3 percent, at $43.89.

Yum Brands also got a lift thanks to stronger U.S. sales at its KFC and Taco Bell chains, which offset weakness at the company's Pizza Hut restaurants. Its shares gained 80 cents, or 1.2 percent, to $67.39.

Results from several companies failed to impress investors.

Twitter slumped 12.3 percent after the social media company's latest quarterly earnings, which topped analyst expectations, were overshadowed by a weak profit forecast. The stock fell $2.31 to $16.41.

Coca-Cola traded lower after its profit fell 55 percent in the most recent quarter. The stock lost 77 cents, or 1.8 percent, to $41.25.

Dun & Bradstreet tumbled 16.8 percent after the business information provider said it expects less revenue from a partnership with Salesforce this year. The stock was the biggest loser in the S&P 500, sliding $20.59 to $101.88.

The major stock indexes in Europe also notched gains Thursday.

Germany's DAX rose 0.9 percent, while France's CAC 40 gained 1.3 percent. Britain's FTSE 100 added 0.6 percent.

In Asia, Japan's Nikkei 225 stock index slid 0.5 percent ahead of meetings Friday between Prime Minister Shinzo Abe and President Donald Trump. Most other regional benchmarks notched gains. Hong Kong's Hang Seng index gained 0.2 percent, while the Kospi in South Korea was almost flat. Australia's S&P ASX/200 rose 0.2 percent. Shares in Southeast Asia were mostly higher.

Benchmark U.S. crude rose 66 cents, or 1.3 percent, to close at $53 a barrel in New York. Brent crude, the benchmark for international oil prices, gained 51 cents, or about 1 percent, to close at $55.63 a barrel in London.

In other energy futures trading, wholesale gasoline added 2 cents to $1.57 a gallon, while heating oil rose 1 cent to $1.64 a gallon. Natural gas futures gained 2 cents to $3.14 per 1,000 cubic feet.

The dollar rose to 113.33 yen from 112.05 on Wednesday. The euro fell to $1.0658 from $1.0687.

Bond prices fell. The 10-year Treasury yield rose to 2.39 percent from 2.34 percent late Wednesday.

In metals trading, the price of gold fell $2.70 to $1,236.80 an ounce. Silver rose 4 cents to $17.74 an ounce. Copper slid 1 cent to $2.65 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 97 points or ▲ 0.48% on Friday, February 10, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,269.37 ▲ 96.97 ▲ 0.48% . 
 Nasdaq____ 5,734.13 ▲ 18.95 ▲ 0.33% . 
 S&P_500___ 2,316.10 ▲ 8.23 ▲ 0.36% . 
 30_Yr_Bond____ 3.01 ▲ 0.00 ▲ 0.03% . 

NYSE Volume           3,474,843,750             
Nasdaq Volume           2,621,281,500          

 *Europe           *
* Symbol... .....Last ….....Change....... .. * 
 FTSE_100 7,258.75 ▲ 29.25 ▲ 0.40% . 
 DAX_____ 11,666.97 ▲ 24.11 ▲ 0.21% . 
 CAC_40__ 4,828.32 ▲ 2.08 ▲ 0.04% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,771.60 ▲ 53.90 ▲ 0.94% . 
 Shanghai_Comp 3,196.70 ▲ 13.52 ▲ 0.42% . 
 Taiwan_Weight 9,665.59 ▲ 75.41 ▲ 0.79% . 
 Nikkei_225___ 19,378.93 ▲ 471.26 ▲ 2.49% . 
 Hang_Seng.__ 23,574.98 ▲ 49.84 ▲ 0.21% .. 
 Strait_Times.__ 3,100.39 ▲ 20.43 ▲ 0.66% . 
 NZX_50_Index_ 7,104.43 ▼ -17.20 ▼ -0.24% . 

http://finance.yahoo.com/news/us-stock-indexes-extend-climb-record-heights-153810028--finance.html

*US stock indexes extend climb into record heights*




ALEX VEIGA

Wall Street capped a week of milestones Friday with a rally that pushed the major stock indexes to all-time highs for the second day in a row.

Small-company stocks did better than larger ones, nudging the Russell 2000 index to a record high for the first time since December.

Miners and other raw materials companies led the gainers. Rising crude oil prices also gave energy companies a big boost. Consumer goods stocks were essentially flat.

Strong company earnings and investor optimism over the Trump administration's promises of tax cuts, less government regulation and other policies helped fuel the market's gains much of the week. News that OPEC is largely adhering to a recent pact to cut crude oil production has also helped lift markets. The daily market moves have been mostly small, but big enough to push indexes to new heights.

"We had a drought for a very, very long time last year where we went almost a year and a half without hitting a new high, which was the longest time ever," said Randy Frederick, vice president of trading & derivatives at Charles Schwab. "Now we're back to what I would say is more of a typical move, where you get record highs consistently."

The Dow Jones industrial average rose 96.97 points, or 0.5 percent, to 20,269.37. The Standard & Poor's 500 index gained 8.23 points, or 0.4 percent, to 2,316.10. The Nasdaq composite index added 18.95 points, or 0.3 percent, to 5,734.13. All told, the Nasdaq closed at a record high four times this week, as well as last Friday.

The Russell 2000 picked up 10.32 points, or 0.8 percent, to 1,388.84.

Trading got off to a good start early Friday, as investors sized up the latest batch of company earnings. Some 70 percent of the companies in the S&P 500 have reported quarterly results as of Friday. About 40 percent of those turned in earnings and revenue that beat Wall Street's forecasts, according to S&P Global Market Intelligence.

Earnings are on track to mark the second-consecutive quarter of growth after a five-quarter losing streak.

Beyond earnings, investors are also eying Washington D.C. for signs the Trump administration will deliver on the promised business-friendly policy proposals that helped drive a market rally last fall, including slashing government regulations and taxes.

"The market has been pretty generous ever since the election in moving in anticipation of what might come," Frederick said. "The question is at what point does the market expect to see things actually happen versus just promises of action. That's the tricky part."

Investors bid up shares in companies that turned in better earnings or outlooks than Wall Street was expecting, including footwear company Skechers, video game publisher Activision Blizzard and real estate investment company CBRE Group.

Skechers gained $4.50, or 19.3 percent, to $27.78, while CBRE Group climbed $2.43, or 7.7 percent, to $34. Activision Blizzard was the biggest gainer in the S&P 500. The maker of "Call of Duty," ''Candy Crush" and other video games jumped $7.50, or 18.9 percent, to $47.23.

Other companies' quarterly report cards failed to impress traders.

Yelp skidded 13.6 percent after the online reviews company's revenue forecasts disappointed Wall Street. The stock slid $5.66 to $35.83.

Cerner slumped 4.4 percent after the health care information technology company lowered its earnings and revenue guidance for the year. The stock was the biggest decliner in the S&P 500. It fell $2.38 to $51.50.

Soaring copper prices gave gold and copper miner Freeport-McMoRan a lift. It rose 41 cents, or 2.7 percent, to $15.80.

Investors also welcomed Sears' huge cost-savings initiative. The troubled department store chain said Friday that it will slash at least $1 billion a year in costs by selling stores, cutting jobs or selling some of its well-known brands. The stock leaped $1.42, or 25.6 percent, to $6.96.

In deal news, Mead Johnson Nutrition Co. rose 5.6 percent after the baby formula maker agreed to be bought by British household products company Reckitt Benckiser for $90 a share, or $16.6 billion. Mead Johnson shares climbed $4.67 to $87.72.

Benchmark U.S. crude rose 86 cents, or 1.6 percent, to close at $53.86 a barrel in New York. The contract rose 66 cents on Thursday. Brent crude, the benchmark for international oil prices, gained $1.07, or 1.9 percent, to close at $56.70 a barrel in London. Natural gas futures declined 11 cents, or 3.4 percent, to $3.03 per 1,000 cubic feet.

Major stock indexes in Europe closed mostly higher.

Britain's FTSE 100 added 0.4 percent, while Germany's DAX rose 0.2 percent. France's CAC 40 was flat. Greece's stock market gained 2.5 percent as its creditors met to find a way to ease concerns about the future of its bailout program.

In Asia, investors welcomed strong January trade data from China. Hong Kong's Hang Seng rose 0.2 percent, while South Korea's Kospi added 0.5 percent. Australia's S&P/ASX 200 jumped 1 percent. Japan's benchmark Nikkei 225 index surged 2.5 percent as the yen weakened against the dollar, lifting shares of exporters.

Bond prices fell. The 10-year Treasury yield rose to 2.41 percent from 2.40 percent late Thursday.

The dollar strengthened to 113.41 yen, up from 113.33 yen on Thursday. The euro weakened to $1.0631 from $1.0658.

In other energy futures trading, wholesale gasoline added 2 cents to $1.59 a gallon, while heating oil rose 2 cents to $1.67 a gallon.

Among metals, the price of gold fell 70 cents to $1,234.40 an ounce. Silver rose 19 cents to $17.93 an ounce. Copper added 11 cents, or 4.3 percent, to $2.77 a pound.

1659


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 143 points or ▲ 0.70% on Monday, February 13, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,412.16 ▲ 142.79 ▲ 0.70% . 
 Nasdaq____ 5,763.96 ▲ 29.83 ▲ 0.52% . 
 S&P_500___ 2,328.25 ▲ 12.15 ▲ 0.52% . 
 30_Yr_Bond____ 3.03 ▲ 0.02 ▲ 0.73% . 

NYSE Volume           3,348,874,000              
Nasdaq Volume           1,962,906,750           

 *Europe           
Symbol... .....Last ….....Change....... .. * 
 FTSE_100 7,278.92 ▲ 20.17 ▲ 0.28% . 
 DAX_____ 11,774.43 ▲ 107.46 ▲ 0.92% . 
 CAC_40__ 4,888.19 ▲ 59.87 ▲ 1.24% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,812.90 ▲ 41.30 ▲ 0.72% . 
 Shanghai_Comp 3,216.84 ▲ 20.14 ▲ 0.63% . 
 Taiwan_Weight 9,710.32 ▲ 44.73 ▲ 0.46% . 
 Nikkei_225___ 19,459.15 ▲ 80.22 ▲ 0.41% . 
 Hang_Seng.__ 23,710.98 ▲ 136.00 ▲ 0.58% .. 
 Strait_Times.__ 3,111.63 ▲ 11.24 ▲ 0.36% . 
 NZX_50_Index_ 7,135.50 ▲ 31.07 ▲ 0.44% . 


http://finance.yahoo.com/news/globa...s-indexes-hit-records-151946401--finance.html

*Global stocks continue to rise, US indexes hit records again*




STAN CHOE

NEW YORK (AP) — Stocks around the world continued their march higher on Monday, and U.S. indexes again hit new highs.

Strong gains for Citigroup and other financial stocks helped the Standard & Poor's 500 index rise 12.15 points, or 0.5 percent, to 2,328.25. It's the third straight day the index has set a record. The Dow Jones industrial average gained 142.79, or 0.7 percent, to 20,412.16. The Nasdaq composite climbed 29.83, or 0.5 percent, to 5,763.96. Earlier in the day, markets rose across Europe and Asia.

Stocks have resumed their rally in recent days after stalling for a couple weeks. Stronger-than-expected profit reports from companies, continued improvement in the U.S. economy and expectations for business-friendly policies from Washington have helped propel the market. With no major economic reports or other big news on Monday, stocks continued to follow the path of least resistance, analysts say.

"The market's got such good momentum now that it's going to continue until something slows it down," said Randy Frederick, vice president of trading and derivatives at the Schwab Center for Financial Research. "There's really not any negative catalyst right now."

The S&P 500 has climbed five straight days and is up 8.8 percent since Donald Trump won the White House in November.

Companies whose profits are most dependent on the strength of the economy were some of Monday's biggest gainers. Financial stocks in the S&P 500 rose 1.1 percent, the biggest gain among the 11 sectors that make up the index. Industrials rose 1 percent. Roughly three stocks rose for every two that fell on the New York Stock Exchange.

The biggest stock in the S&P 500, Apple, is also at a record closing high. It rose $1.17, or 0.9 percent, to close at $133.29. The iPhone maker's performance carries extra weight for many 401(k) accounts because of its status as the biggest publicly traded company in the world. It alone accounts for about 3.5 percent of S&P 500 index fund investments.

Chemical company Chemours jumped $4.01, or 14.3 percent, to $32.14 after it announced an agreement with DuPont to jointly pay $670.7 million to settle roughly 3,500 personal-injury claims related to the release of perfluorooctanoic acid from a West Virginia plant. DuPont rose 99 cents, or 1.3 percent, to $77.82.

Zeltiq Aesthetics jumped $6.53, or 13.2 percent, to $55.93 after Allergan said it would buy the company, whose CoolSculpting system helps people reduce bulges of fat. Allergan, which sells Botox, agreed to pay $56.50 per share for Zeltiq.

The only sector in the S&P 500 to fall on Monday was telecoms, which sank on worries that more pricing wars may be on the way.

Verizon unveiled an unlimited-data plan for its customers, and its stock dropped 43 cents, or 0.9 percent, to $48.55. Competitors fell more. AT&T lost 73 cents, or 1.8 percent, to $40.65, and Sprint fell 12 cents, or 1.3 percent, to $8.84.

Several events are on the schedule that could shift the market's momentum. Federal Reserve Chair Janet Yellen will offer testimony on Capitol Hill Tuesday and Wednesday to update the Senate and House on monetary policy. Most investors expect the central bank to keep raising interest rates in 2017, though at a modest pace.

The government will also offer updates on the state of inflation, on both the consumer and the wholesale levels. Many investors expect inflation to rise due to policies proposed by President Trump and Congressional Republicans, though the bond market doesn't seem to be forecasting a runaway spike.

Treasury yields have been on an upward trend since Election Day, in part because of those expectations for higher inflation. The yield on the 10-year Treasury note rose to 2.43 percent Monday from 2.41 percent late Friday. Two-year and 30-year Treasury yields also notched higher.

Stocks climbed in other markets around the world. In Asia, Japan's Nikkei 225 index rose 0.4 percent, the Hang Seng in Hong Kong gained 0.6 percent and South Korea's Kospi index added 0.2 percent. In Europe, the French CAC 40 index jumped 1.2 percent, Germany's DAX climbed 0.9 percent and the U.K. FTSE 100 added 0.3 percent.

Benchmark U.S. crude oil fell 93 cents, or 1.7 percent, to settle at $52.93 a barrel. Brent crude, the international standard, fell $1.11, or 2.percent, to $55.59 a barrel.

Natural gas fell 9 cents, or 3 percent, to $2.94 per 1,000 cubic feet. Wholesale gasoline fell 5 cents, or 2.8 percent, to $1.54 a gallon and heating oil lost 4 cents, or 2.3 percent, to $1.63 a gallon.

In metals trading, gold fell $10.10 to settle at $1,225.80 an ounce. Silver lost 11 cents to $17.82 an ounce. Copper added 1.5 cents to $2.78 a pound.

The dollar rose to 113.62 Japanese yen from 113.41 yen late Friday, and the British pound rose to $1.2529 from $1.2479.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 92.3 points or ▲ 0.45% on Tuesday, February 14, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,504.41 ▲ 92.25 ▲ 0.45% . 
 Nasdaq____ 5,782.57 ▲ 18.62 ▲ 0.32% . 
 S&P_500___ 2,337.58 ▲ 9.33 ▲ 0.40% . 
 30_Yr_Bond____ 3.06 ▲ 0.03 ▲ 0.92% . 

NYSE Volume           3,496,713,250              
Nasdaq Volume           9,586,779,000           

 *Europe           
Symbol... .....Last ….....Change....... .. * 
 FTSE_100 7,268.56 ▼ -10.36 ▼ -0.14% . 
 DAX_____ 11,771.81 ▼ -2.62 ▼ -0.02% . 
 CAC_40__ 4,895.82 ▲ 7.63 ▲ 0.16% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,810.90 ▼ -2.00 ▼ -0.03% . 
 Shanghai_Comp 3,217.93 ▲ 1.09 ▲ 0.03% . 
 Taiwan_Weight 9,718.78 ▲ 8.46 ▲ 0.09% . 
 Nikkei_225___ 19,238.98 ▼ -220.17 ▼ -1.13% . 
 Hang_Seng.__ 23,703.01 ▼ -7.97 ▼ -0.03% .. 
 Strait_Times.__ 3,072.47 ▼ -39.16 ▼ -1.26% . 
 NZX_50_Index_ 7,150.89 ▲ 15.39 ▲ 0.22% . 

http://finance.yahoo.com/news/stock-markets-around-world-downshift-150639370.html

*Jumping bank stocks push US indexes higher; bond yields rise*




STAN CHOE

NEW YORK (AP) — Bank stocks jumped Tuesday on hopes that bigger profits are ahead, and U.S. indexes again pushed to record highs.

Stocks had been mostly lower when the day's trading began, but indexes reversed course after Federal Reserve Chair Janet Yellen told a Senate committee that the central bank could raise interest rates as soon as next month. Bond yields jumped immediately afterward and fed through to shares of banks, which can benefit from higher rates by charging more for loans.

The Standard & Poor's 500 index rose 9.33 points, or 0.4 percent, to 2,337.58 for its sixth straight day of gains. Earlier in the day, it was down as much as 0.3 percent. The Dow Jones industrial average rose 92.25 points, or 0.5 percent, to 20,504.41. The Nasdaq composite rose 18.62, or 0.3 percent, to 5,782.57. Slightly more stocks rose on the New York Stock Exchange than fell.

Yellen's testimony on Capitol Hill was much anticipated, but she said little to alter most investors' expectations. The Fed raised interest rates in December for just the second time in a decade, and Yellen said the strengthening job market and a modest move higher in inflation should warrant continued, gradual increases in interest rates.

Waiting too long to raise rates "would be unwise" and could eventually force the Fed to raise rates rapidly to catch up, Yellen said. But she also repeated the word "gradual" to describe expectations for future increases.

"Yellen seemed to have her dancing shoes on this morning and was able to steer clear of any comments that might upset the market," said Alan Gayle, senior investment strategist and director of asset allocation at RidgeWorth Investments. "In so doing, the stock market has been able to hold onto its gains."

Stocks have been on a strong run driven by expectations for more help for businesses from Washington, an improving economy and stronger-than-expected corporate earnings. The S&P 500 is up 9.3 percent since Election Day.

A demonstration of how much optimism is feeding into markets: Small-business owners say they haven't felt this encouraged in 12 years, according to a monthly survey released by the National Federation of Independent Business on Tuesday. Optimism made a sharp turn higher following the election, and more small businesses are saying they're planning to hire.

Of course, such a high degree of excitement also leaves the possibility for disappointment if expectations aren't met.

"The underlying momentum in the economy remains positive, so that gives us a positive bias toward the equity market, but we also know that there is a lot of volatility just around the corner," Gayle said.

Yellen's testimony helped the yield on the 10-year Treasury note rise to 2.47 percent from 2.43 percent late Monday. The yield on the 2-year Treasury rose to 1.24 percent from 1.21 percent, and the 30-year Treasury yield climbed to 3.06 percent from 3.03 percent.

While higher bond yields can help banks, they can also mean less demand for stocks that pay big dividends. Utility stocks in the S&P 500, which are some of the market's highest yielders, fell 0.7 percent. It was the largest loss among the 11 sectors that make up the index. Real-estate investment trusts, which have relatively big dividend yields, were also weak.

General Motors jumped $1.72, or 4.8 percent, to $37.24 for one of the biggest gains in the S&P 500 following news that France's PSA Group, maker of Peugeot and Citroen cars, is exploring a deal to buy Opel, GM's money-losing European business.

Cynosure, which makes devices used in laser body contouring, hair removal and skin care, soared after agreeing to be bought by medical device maker Hologic. Hologic will pay $66 a share, or $1.57 billion, for Cynosure, which had about $434 million in revenue last year. Cynosure rose $14.43, or 28 percent, to $65.93 while Hologic fell 99 cents, or 2.5 percent, to $39.03.

Stocks were relatively steady across the world. In Europe, the German DAX index was virtually flat, while the French CAC 40 rose 0.2 percent and the British FTSE 100 edged down 0.1 percent. In Asia, the Hang Seng index in Hong Kong was close to flat, while the South Korean Kospi index dipped 0.2 percent and the Japanese Nikkei 225 index fell 1.1 percent.

Benchmark U.S. crude oil rose 27 cents to settle at $53.20 per barrel. Brent crude, the international standard, rose 38 cents to $55.97 a gallon in London.

Natural gas fell 4 cents to $2.91 per 1,000 cubic feet, heating oil rose a penny to $1.64 per gallon and wholesale gasoline was close to flat at $1.55 a gallon.

Gold fell 40 cents to settle at $1,225.40 per ounce, silver rose 7 cents to $17.89 an ounce and copper fell 5 cents to $2.74 a pound.

The dollar rose to 114.22 Japanese yen from 113.62 late Monday. The euro dipped to $1.0572 from $1.0600, and the British pound fell to $1.2465 from $1.2529.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 107 points or ▲ 0.52% on Wednesday, February 15, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,611.86 ▲ 107.45 ▲ 0.52% . 
 Nasdaq____ 5,819.44 ▲ 36.87 ▲ 0.64% . 
 S&P_500___ 2,349.25 ▲ 11.67 ▲ 0.50% . 
 30_Yr_Bond____ 3.09 ▲ 0.03 ▲ 0.95% . 

NYSE Volume           3,774,985,250             
Nasdaq Volume           2,655,469,000          

 *Europe           *
* Symbol... .....Last ….....Change....... .. * 
 FTSE_100 7,302.41 ▲ 33.85 ▲ 0.47% . 
 DAX_____ 11,793.93 ▲ 22.12 ▲ 0.19% . 
 CAC_40__ 4,924.86 ▲ 29.04 ▲ 0.59% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,859.10 ▲ 48.20 ▲ 0.83% . 
 Shanghai_Comp 3,212.99 ▼ -4.94 ▼ -0.15% . 
 Taiwan_Weight 9,799.76 ▲ 80.98 ▲ 0.83% . 
 Nikkei_225___ 19,437.98 ▲ 199.00 ▲ 1.03% . 
 Hang_Seng.__ 23,994.87 ▲ 291.86 ▲ 1.23% .. 
 Strait_Times.__ 3,088.48 ▲ 16.01 ▲ 0.52% . 
 NZX_50_Index_ 7,180.03 ▲ 29.14 ▲ 0.41% . 

http://finance.yahoo.com/news/stronger-economy-lifts-bond-yields-stocks-hold-records-150335437.html

*Bond yields rise, stocks push to records as economy cruises*




Stan Choe, AP Business Writer

NEW YORK (AP) -- Stocks and bond yields punched higher Wednesday, and U.S. indexes set records again, following more encouraging news on the U.S. economy.

The Standard & Poor's 500 index rose 11.67 points, or 0.5 percent, to 2,349.25. It's the seventh straight gain for the index and its longest winning streak in three and a half years. The Dow Jones industrial average rose 107.45 points, or 0.5 percent, to 20,611.86. The Nasdaq composite rose 36.87, or 0.6 percent, to 5,819.44. Seven stocks rose on the New York Stock Exchange for every five that fell.

It's a striking reversal for the market from a year ago, when stocks around the world were tumbling on worries that another recession was on the way. Since then, the economy and job market have continued to improve, along with corporate profits. And the market got a jolt of adrenaline in November, when Donald Trump's surprise White House victory raised hopes for tax cuts and other business-friendly policies from Washington.

The S&P 500 is up nearly 26 percent over the last 12 months, with more than half of the gain coming since Election Day. Such a performance would rank among the best calendar years the index has had in the last three decades.

On Wednesday, reports showed that retailers had stronger sales in January than economists expected, and inflation at the consumer level was the highest in years. Consumer prices rose 2.5 percent in January from a year earlier, the highest rate since March 2012. The data give the Federal Reserve more encouragement to raise interest rates, and economists said the possibility is increasing that it may happen at the central bank's next meeting in March.

Fed Chair Janet Yellen indicated in testimony before a Congressional committee that the central bank will likely accelerate its pace of increases if the job market remains healthy and inflation keeps climbing. The Fed has raised rates just twice in the last two years, after holding rates at nearly zero from late 2008 to help lift the economy out of the Great Recession.

"What really stuck out to me in Yellen's testimony was her adding emphasis to the idea that as things currently stand, even without fiscal stimulus, it would be prudent to hike sooner rather than later," said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management. "So if we do see tax cuts or infrastructure spending, they may need to quicken the pace of rate hikes. The bond market has clearly gotten the message."

Treasury yields jumped as investors sold off bonds. The 10-year Treasury yield rose to 2.50 percent from 2.47 percent late Tuesday. The 30-year yield rose to 3.08 percent from 3.06 percent.

When bonds pay more in interest, it can mean less demand from income investors for stocks that pay big dividends. Utility stocks in the S&P 500, which are some of the biggest dividend payers, fell 0.4 percent.

Airline stocks cruised higher after Warren Buffett's Berkshire Hathaway disclosed that it added to its investments in several of them.

Southwest Airlines rose $1.98, or 3.6 percent, to $57.29, United Continental rose $2.01, or 2.7 percent, to $75.75, Delta Air Lines rose $1.31, or 2.6 percent, to $51.17 and American Airlines rose 97 cents, or 2.1 percent, to $47.54.

Procter & Gamble rose $3.26, or 3.7 percent, to $91.12 after activist investor Nelson Peltz's Trian Fund Management disclosed in a regulatory filing that it owns a stake in the company.

American International Group sank to the biggest loss in the S&P 500 after reporting a larger operating loss for the fourth quarter than analysts expected. It fell $6.04, or 9 percent, to $60.85.

Fossil Group plunged $3.39, or 14.8 percent, to $19.48. The watch and accessories company gave a profit forecast for 2017 that fell well short of analysts' predictions, and it said it may lose money.

In Europe, the German DAX index rose 0.2 percent, while the French CAC 40 rose 0.6 percent and the U.K.'s FTSE 100 added 0.5 percent. In Asia, Japan's Nikkei 225 index rose 1 percent, Hong Kong's Hang Seng rose 1.2 percent and the Kospi in South Korea gained 0.4 percent.

The dollar ticked up to 114.26 Japanese yen from 114.22 yen late Tuesday. The euro rose to $1.0591 from $1.0572, and the British pound dipped to $1.2445 from $1.2465.

Benchmark U.S. crude fell 9 cents to settle at $53.11 a barrel. Brent crude, the international standard, fell 22 cents to $55.75 a barrel in London. Natural gas rose 2 cents to $2.93 per 1,000 cubic feet, heating oil fell a fraction of a penny to $1.63 per gallon and wholesale gasoline was virtually flat at $1.55 per gallon.

Gold rose $7.70 to $1,233.10 per ounce, silver rose 7 cents to $17.96 per ounce and copper was virtually flat at $2.74 per pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 7.91 points or ▲ 0.04% on Thursday, February 16, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,619.77 ▲ 7.91 ▲ 0.04% . 
 Nasdaq____ 5,814.90 ▼ -4.54 ▼ -0.08% . 
 S&P_500___ 2,347.22 ▼ -2.03 ▼ -0.09% . 
 30_Yr_Bond____ 3.05 ▼ -0.04 ▼ -1.29% . 

NYSE Volume           3,651,248,750              
Nasdaq Volume           1,956,234,120           

 *Europe           
Symbol... .....Last ….....Change....... .. * 
 FTSE_100 7,277.92 ▼ -24.49 ▼ -0.34% . 
 DAX_____ 11,757.24 ▼ -36.69 ▼ -0.31% . 
 CAC_40__ 4,899.46 ▼ -25.40 ▼ -0.52% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,863.00 ▲ 3.90 ▲ 0.07% . 
 Shanghai_Comp 3,229.62 ▲ 16.63 ▲ 0.52% . 
 Taiwan_Weight 9,771.25 ▼ -28.51 ▼ -0.29% . 
 Nikkei_225___ 19,347.53 ▼ -90.45 ▼ -0.47% . 
 Hang_Seng.__ 24,107.70 ▲ 112.83 ▲ 0.47% .. 
 Strait_Times.__ 3,096.69 ▲ 8.21 ▲ 0.27% . 
 NZX_50_Index_ 7,099.98 ▼ -80.05 ▼ -1.11% . 

http://finance.yahoo.com/news/breath-stocks-slow-down-record-152707829.html

*Take a breath: Stocks slow down after a record-setting run*




STAN CHOE

NEW YORK (AP) — The Standard & Poor's 500 index dipped Thursday to break a seven-day winning streak, its longest in three and a half years, though it remains a nudge away from its record high.

It was part of a pause for stock markets around the world, which have been on a torrid run thanks to an improving economy, stronger corporate earnings and hopes for more business-friendly policies from Washington. The dollar's value also dipped against rival currencies, and Treasury yields fell as bond prices rose.

The S&P 500 fell 2.03 points, or 0.1 percent, to 2,347.22. The Dow Jones industrial average rose 7.91 points, less than 0.1 percent, to set another record at 20,619.77. The Nasdaq composite dipped 4.54 points, or 0.1 percent, to 5,814.90. Four stocks fell for every three that rose on the New York Stock Exchange.

Analysts said it wasn't surprising to see stocks take a break following their long run higher.

"The market has reacted quite strongly to the Trump reflation trade, deregulation and lower-tax comments over the last couple weeks," said Nate Thooft, senior portfolio manager at Manulife Asset Management. "And on top of that we've had a pretty darn good earnings season. It just needs a little bit of a breather today."

He said he still sees stocks as better investments than bonds.

The day's largest loss within the S&P 500 came from TripAdvisor, which fell $5.78, or 11 percent, to $46.92 after reporting weaker revenue and earnings for its latest quarter than analysts forecast.

Avon Products, a direct seller of cosmetics, also plunged after reporting weaker-than-expected results. The company said the number of sales representatives, who are famous for selling its products door to door, slipped from a year earlier. The stock dropped $1.09, or 18.6 percent, to $4.77.

Most companies, though, have been reporting stronger results for the last three months of 2016 than Wall Street forecast.

Medical-waste company Stericycle jumped to the biggest gain in the S&P 500 after its earnings and revenue for the latest quarter topped analysts' estimates. The stock rose $5.96, or 7.7 percent, to $83.35.

Cisco Systems gained 78 cents, or 2.4 percent, to $33.60, and data-storage company NetApp climbed $1.63, or 4.2 percent, to $40.56 after likewise reporting larger-than-expected profits.

Handbag maker Kate Spade climbed after the company said it is considering options that could include a sale. Its stock, which traded around three-year lows in December, jumped $2.89, or 14.7 percent, to $22.56.

Treasury yields pulled back, giving back some of their increase from prior days. The 10-year Treasury yield fell to 2.45 percent from 2.50 percent late Wednesday. The two-year Treasury yield fell to 1.21 percent from 1.25 percent, and the 30-year yield fell to 3.05 percent from 3.08 percent.

Yields fell even as more encouraging reports on the economy arrived. Homebuilders broke ground on slightly more projects last month than economists expected, though activity was down from the prior month. A measure of manufacturing in the Philadelphia region suggested that growth is improving, and that figure also beat forecasts.

The reports followed two big ones on Wednesday, which showed that rising optimism among shoppers may be translating into increased spending and that inflation is on the rise. Continued signs of gains in the economy and on inflation could push the Federal Reserve to raise interest rates sooner or more quickly than investors had thought.

Stock markets around the world also slowed Thursday. In Europe, the French CAC 40 fell 0.5 percent, the German DAX index fell 0.3 percent and the U.K. FTSE 100 also slipped 0.3 percent. In Asia, Japan's Nikkei 225 index fell 0.5 percent, the South Korean Kospi dipped 0.1 percent and the Hang Seng in Hong Kong rose 0.5 percent.

Benchmark U.S. crude rose 25 cents to settle at $53.36 per barrel. Brent crude, the international standard, fell 10 cents to $55.65 a barrel. Natural gas fell 7 cents to $2.85 per 1,000 cubic feet. Heating oil was close to flat at $1.63 per gallon, and wholesale gasoline fell 2 cents to $1.52 per gallon.

Gold rose $8.50 to settle at $1,241.60 per ounce, silver rose 11 cents to $18.07 per ounce and copper fell 2 cents to $2.72 per pound.

The dollar fell to 113.21 yen from 114.26 late Wednesday. The euro rose to $1.0640 from $1.0591, and the British pound rose to $1.2490 from $1.2445.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 4.28 points or ▲ 0.02% on Friday, February 17, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,624.05 ▲ 4.28 ▲ 0.02% . 
 Nasdaq____ 5,838.58 ▲ 23.68 ▲ 0.41% . 
 S&P_500___ 2,351.16 ▲ 3.94 ▲ 0.17% . 
 30_Yr_Bond____ 3.03 ▼ -0.02 ▼ -0.66% . 

NYSE Volume           3,510,591,000             
Nasdaq Volume           1,891,329,120          

 *Europe       *
* Symbol... .....Last ….....Change....... .. * 
 FTSE_100 7,299.96 ▲ 22.04 ▲ 0.30% . 
 DAX_____ 11,757.02 ▼ -0.22 ▲ 0.00% . 
 CAC_40__ 4,867.58 ▼ -31.88 ▼ -0.65% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,851.00 ▼ -12.00 ▼ -0.20% . 
 Shanghai_Comp 3,202.08 ▼ -27.54 ▼ -0.85% . 
 Taiwan_Weight 9,759.76 ▼ -11.49 ▼ -0.12% . 
 Nikkei_225___ 19,234.62 ▼ -112.91 ▼ -0.58% . 
 Hang_Seng.__ 24,033.74 ▼ -73.96 ▼ -0.31% .. 
 Strait_Times.__ 3,107.65 ▲ 10.96 ▲ 0.35% . 
 NZX_50_Index_ 7,093.53 ▼ -6.45 ▼ -0.09% . 

http://finance.yahoo.com/news/falling-bank-stocks-nudge-p-500-bit-further-150320607--finance.html

*Stocks inch to new records; S&P 500 up 4 straight weeks*




STAN CHOE

NEW YORK (AP) — Stock indexes inched ahead to record highs Friday, barely, after a late-afternoon push erased losses from earlier in the day. It caps the fourth straight week of gains for the Standard & Poor's 500 index, its longest such streak since July.

Reports through the week showed that the economy is improving and corporate profits are growing more quickly than analysts expected. The encouraging data, along with hopes for lower taxes and other business-friendly policies from Washington, pushed the S&P 500 to a 1.5 percent rise last week, its best weekly performance since the first week of January.

The S&P 500 rose 3.94 points Friday, or 0.2 percent, to 2,351.16. The Dow Jones industrial average edged up by 4.28 points, less than 0.1 percent, to 20,624.05 and also set a record. The Nasdaq rose 23.68, or 0.4 percent, to 5,838.58, its own all-time high.

Slightly more stocks fell than rose on the New York Stock Exchange.

The last two days have been lackluster for stocks, with the S&P 500 dipping on Thursday, in comparison to the strong run they had been on. That slowdown was more a result of investors looking to cash in some profits than on any fear or need to get out of the market, said JJ Kinahan, chief market strategist at TD Ameritrade.

"People don't want unnecessary risk heading into a three-day weekend," he said. "This is more about taking off risk than about aggressive selling."

U.S. markets will be closed Monday for Presidents Day.

Kinahan pointed to relative calmness in the markets for the VIX index, which measures expectations for upcoming volatility in the S&P 500, and for gold, a traditional landing spot when investors are nervous.

Kraft Heinz surged to the biggest gain in the S&P 500 after it made an offer to buy European consumer goods giant Unilever. Unilever rejected the bid, which offered 18 percent more than where Unilever's shares closed on Thursday, and called it too low.

Kraft Heinz, which is behind the Lunchables and Oscar Mayer brands, jumped $9.37, or 10.7 percent, to $96.65. U.S.-listed shares of Unilever, which sells Breyers ice cream and Dove soap, surged $5.96, or 14 percent, to $48.53.

Campbell Soup had the biggest drop in the S&P 500 after the company surprised analysts by reporting weaker revenue in its latest quarter than a year earlier. Its earnings were better than Wall Street had forecast, however. Shares fell $4.07, or 6.5 percent, to $58.48.

General Mills fell $2.31, or 3.8 percent, to $59.23 after it warned of tougher times ahead. It said weaker-than-expected U.S. sales of yogurt and soup pushed it to cut its sales and profit forecast for its fiscal year, which ends in May.

Treasury yields gave back some of the gains they made earlier in the week. The yield on the 10-year Treasury note fell to 2.42 percent from 2.45 percent late Thursday. The two-year yield dipped to 1.19 percent from 1.21 percent, and the 30-year Treasury yield sank to 3.02 percent from 3.05 percent.

In European stock markets, the French CAC 40 index fell 0.7 percent, Germany's DAX was virtually flat and the U.K. FTSE 100 rose 0.3 percent. In Asia, Japan's Nikkei 225 index fell 0.6 percent, the Hang Seng in Hong Kong fell 0.3 percent and South Korea's Kospi index slipped 0.1 percent.

The dollar fell to 112.93 Japanese yen from 113.11 yen late Thursday. The euro fell to $1.0607 from $1.0677, and the British pound fell to $1.2416 from $1.2497.

Benchmark U.S. crude oil rose 4 cents to settle at $53.40 a barrel. Brent crude, the international standard, fell 16 cents to close at $55.81 a barrel. Natural gas fell 2 cents to $2.83 per 1,000 cubic feet, wholesale gasoline fell nearly 1 cent to $1.52 per gallon and heating oil rose a fraction of a penny to $1.64 per gallon.

Gold fell $2.50 to settle at $1,239.10 per ounce, silver fell 4 cents to $18.03 per ounce and copper fell 1 cent to $2.71 per pound.

1834


----------



## bigdog

Source: http://finance.yahoo.com 

*U.S. markets were closed Monday for Presidents Day (George Washington's birthday)*

 *The NYSE DOW closed  HIGHER ▲ 4.28 points or ▲ 0.02% on Monday, February 20, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,624.05 ▲ 4.28 ▲ 0.02% HOLIDAY 
 Nasdaq____ 5,838.58 ▲ 23.68 ▲ 0.41% HOLIDAY 
 S&P_500___ 2,351.16 ▲ 3.94 ▲ 0.17% HOLIDAY 
 30_Yr_Bond____ 3.03 ▼ -0.02 ▼ -0.66% HOLIDAY 

NYSE Volume           3,516,667,750              
Nasdaq Volume           2,028,696,500           

 *Europe           
Symbol... .....Last ….....Change....... .. * 
 FTSE_100 7,299.86 ▼ -0.10 ▲ 0.00% . 
 DAX_____ 11,827.62 ▲ 70.60 ▲ 0.60% . 
 CAC_40__ 4,864.99 ▼ -2.59 ▼ -0.05% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,840.50 ▼ -10.50 ▼ -0.18% . 
 Shanghai_Comp 3,239.96 ▲ 37.89 ▲ 1.18% . 
 Taiwan_Weight 9,753.20 ▼ -26.72 ▼ -0.27% . 
 Nikkei_225___ 19,251.08 ▲ 16.46 ▲ 0.09% . 
 Hang_Seng.__ 24,146.08 ▲ 112.34 ▲ 0.47% .. 
 Strait_Times.__ 3,096.69 ▼ -10.96 ▼ -0.35% . 
 NZX_50_Index_ 7,099.50 ▲ 5.97 ▲ 0.08% . 

http://finance.yahoo.com/news/asian...ings-fed-minutes-week-061039094--finance.html

*World stocks mostly rise as US remains shut for holiday*




Kelvin Chan, AP Business Writer

HONG KONG (AP) -- Global stocks mostly rose Monday, though Wall Street remained shut for a holiday, as investors awaited key reports this week, including economic data, corporate earnings and minutes from the Federal Reserve's last meeting.

KEEPING SCORE: In Europe, Germany's DAX gained 0.6 percent to 11,827.62 and Britain's FTSE 100 was flat at 7,299.86. France's CAC 40 shed 0.1 percent to 4,864.99. Greek bonds rose after eurozone finance ministers moved a step closer to freeing up more rescue loans for the country.

U.S. markets set record highs on Friday but remained closed for trading on Monday for Presidents' Day.

WEEK AHEAD: Markets await the Federal Reserve's release Wednesday of minutes from its January policy meeting, which might provide new insight in the U.S. central bank's views on interest rates. Last week, Fed chief Janet Yellen indicated the Fed is likely to speed up the pace of its interest rate rises if the job market remains healthy and inflation stays on track. Also due this week: a German business confidence index on Tuesday, U.S. new home sales on Friday and earnings from big companies such as British bank HSBC.

ANALYST VIEW: "The Fed minutes on Wednesday are likely to be the data highlight this week," said Kathleen Brooks, research director at City Index. However, Fed officials are "unlikely to commit to a March rate hike, especially because the Fed has worked its way into a corner where it is now dependent on the Trump administration's fiscal plans before it can change policy."

KRAFT CANCELS: Shares in consumer goods giant Unilever fell 5.2 percent after rival Kraft Heinz said it was dropping its $143 billion offer. The two companies jointly described the decision as amicable. Unilever, which has brands like Lipton, Dove and Hellman's had rejected the bid as too low and its shares had jumped 14 percent on Friday.

ASIA'S DAY: Japan's benchmark Nikkei 225 index edged up 0.1 percent to close at 19,251.08 and South Korea's Kospi advanced 0.2 percent to end at 2,084.39. Hong Kong's Hang Seng added 0.5 percent to 24,146.08 and the Shanghai Composite Index rose 1.2 percent to 3,239.96. Australia's S&P/ASX 200 shed 0.2 percent to 5,795.10.

ENERGY: Benchmark U.S. crude oil added 17 cents to $53.57 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, rose 29 cents to $56.10 a barrel in London.

CURRENCIES: The dollar rose to 113.11 yen from 112.85 yen on Friday. The euro ticked up to $1.0619 from $1.0615.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 119 points or ▲ 0.58% on Tuesday, February 21, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,743.00 ▲ 118.95 ▲ 0.58% . 
 Nasdaq____ 5,865.95 ▲ 27.37 ▲ 0.47% . 
 S&P_500___ 2,365.38 ▲ 14.22 ▲ 0.60% . 
 30_Yr_Bond____ 3.04 ▲ 0.01 ▲ 0.20% . 

NYSE Volume           3,574,788,250              
Nasdaq Volume           2,049,013,000              

 *Europe             
Symbol... .....Last ….....Change....... * 
 FTSE_100 7,274.83 ▼ -25.03 ▼ -0.34% . 
 DAX_____ 11,967.49 ▲ 139.87 ▲ 1.18% . 
 CAC_40__ 4,888.76 ▲ 23.77 ▲ 0.49% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,835.40 ▼ -5.10 ▼ -0.09% . 
 Shanghai_Comp 3,253.33 ▲ 13.36 ▲ 0.41% . 
 Taiwan_Weight 9,763.93 ▲ 10.73 ▲ 0.11% . 
 Nikkei_225___ 19,381.44 ▲ 130.36 ▲ 0.68% . 
 Hang_Seng.__ 23,963.63 ▼ -182.45 ▼ -0.76% . 
 Strait_Times.__ 3,094.19 ▼ -2.50 ▼ -0.08% . 
 NZX_50_Index_ 7,115.69 ▲ 16.19 ▲ 0.23% . 

http://finance.yahoo.com/news/us-stocks-start-week-highs-deals-earnings-151218767--finance.html

*Deal hunger sends food stocks higher; US indexes at records*





MARLEY JAY

NEW YORK (AP) — Stocks again broke records Tuesday as investors came back from a long weekend hungry for deals. While Kraft Heinz and Unilever couldn't complete a proposed $143 billion mega-merger, food and household goods makers rose as investors bet that other deals are coming.

Companies that make packaged foods, everyday household items and other consumer goods are usually seen as stable investments and rarely take center stage on Wall Street. But on Tuesday they did just that, as investors felt the failed Kraft Heinz-Unilever sale will be replaced by other deals. Oreo maker Mondelez and jam maker Smucker made the largest gains.

"That's why you saw the (home and personal care products) companies move up on Friday and you're seeing some of them follow through today," said Jefferies & Co. analyst Kevin Grundy.

Stocks built on their gains over the last two hours of trading to close at their highest prices of the day. Income-seeking investors also bought shares of real estate investment trusts and utilities.

The Dow Jones industrial average climbed 118.95 points, or 0.6 percent, to 20,743. The Standard & Poor's 500 index rose 14.22 points, or 0.6 percent, to 2,365.38. The Nasdaq composite gained 27.37 points, or 0.5 percent, to 5,865.95. All three indexes are at record highs after rising nine times in the last 10 days. The Russell 2000 index of smaller companies added 10.48 points, or 0.7 percent, to 1,410.34, also a record.

U.S. markets were closed Monday for the Presidents Day holiday.

Kraft Heinz and Unilever both slumped after Kraft withdrew a $143 billion offer to buy its rival. Unilever said the offer was too low and the companies said Kraft Heinz was giving up its effort. Unilever, the maker of Hellman's, Lipton and Knorr, declined $3.66, or 7.5 percent, to $44.87. Kraft Heinz, which owns brands including Oscar Mayer, Jell-O and Velveeta, gave up $1.78, or 1.8 percent, to $94.87.

Grundy, the Jefferies analyst, said the Kraft Heinz-Unilever talks surprised Wall Street because Unilever gets most of its revenue from household products, not food. With the Unilever talks apparently done, analysts think Kraft Heinz is still interested in buying another company and they are wondering if it will pursue a different consumer products company or stick to the food industry.

He added that Unilever's shareholders might push that company to make a deal as well.

Kraft Heinz, which is mostly owned by 3G Capital and Warren Buffett's Berkshire Hathaway, has a reputation for slashing costs to make bigger profits.

Mondelez, which was once part of Kraft, climbed 5.8 percent and J.M. Smucker rose 4.4 percent, while cereal makers General Mills and Kellogg gained 3 percent and 2.5 percent, respectively. Household goods makers Colgate-Palmolive, Kimberly-Clark and Clorox all jumped.

Wal-Mart rose $2.08, or 3 percent, to $71.45 after the company said its online business surged in the fourth quarter and it reported more business in the U.S. during the holiday season. Wal-Mart recently bought web-based retailers Jet.com and Moosejaw to strengthen its online sales, which have improved over the last two quarters.

Online rival Amazon continued to set record highs as it rose $11.37, or 1.3 percent, to $856.44.

Restaurant Brands International, the company that owns the Burger King and Tim Hortons brands, agreed to buy Popeyes Louisiana Kitchen for $1.8 billion. Last week Popeyes jumped from about $66 to $70 and then fell back again as reports about a possible deal swirled. Restaurant Brands agreed to pay $79 a share for Popeyes, which climbed $12.61, or 19.1 percent, to $78.73. Restaurant Brands' stock jumped $3.70, or 6.9 percent, to $57.60.

Benchmark U.S. crude oil rose 66 cents, or 1.2 percent, to $54.06 per barrel in New York. Brent crude, used to price international oils, added 48 cents to $56.66 a barrel in London.

In other energy trading, natural gas plunged 27 cents, or 9.5 percent, to $2.56 per 1,000 cubic feet. That was its lowest price in almost a year and it dragged natural gas companies lower. Wholesale gasoline shed 2 cents to $1.49 a gallon. Heating oil rose 1 cent to $1.64 a gallon.

Scripps Networks, the parent of Food Network, Travel Channel and HGTV, climbed after it reported better ratings and stronger ad sales. Its stock gained $5.46, or 7.2 percent, to $81.50 while Discovery Communications, the parent of TLC and Animal Planet, picked up 94 cents, or 3.3 percent, to $29.62. News Corp, which owns the Fox cable channels, rose 25 cents, or 1.9 percent, to $13.33.

The dollar rose to 113.58 yen from 112.93 yen late Friday. The euro sank to $1.0547 from $1.0607.

Bond prices slipped. The yield on the 10-year Treasury note rose to 2.43 percent from 2.42 percent.

Gold dipped 20 cents to $1,238.90 an ounce. Silver lost 3 cents to $18 an ounce. Copper rose 4 cents to $2.75 a pound.

After a survey showed the economy of the 19-country Eurozone is growing at its fastest pace in almost six years, Germany's DAX advanced 1.2 percent while the French CAC 40 rose 0.5 percent. In Britain, the FTSE 100 retreated 0.3 percent. Tokyo's Nikkei 225 rose 0.7 percent. The Hang Seng in Hong Kong retreated 0.8 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 32.6 points or ▲ 0.16% on Wednesday, February 22, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,775.60 ▲ 32.60 ▲ 0.16% . 
 Nasdaq____ 5,860.63 ▼ -5.32 ▼ -0.09% . 
 S&P_500___ 2,362.82 ▼ -2.56 ▼ -0.11% . 
 30_Yr_Bond____ 3.04 ▲ 0.00 ▲ 0.00% . 

NYSE Volume           3,459,104,750              
Nasdaq Volume         96,937,048,000              

 *Europe             
Symbol... .....Last ….....Change....... * 
 FTSE_100 7,302.25 ▲ 27.42 ▲ 0.38% . 
 DAX_____ 11,998.59 ▲ 31.10 ▲ 0.26% . 
 CAC_40__ 4,895.88 ▲ 7.12 ▲ 0.15% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,850.10 ▲ 14.70 ▲ 0.25% . 
 Shanghai_Comp 3,261.22 ▲ 7.89 ▲ 0.24% . 
 Taiwan_Weight 9,778.78 ▲ 14.85 ▲ 0.15% . 
 Nikkei_225___ 19,379.87 ▼ -1.57 ▼ -0.01% . 
 Hang_Seng.__ 24,201.96 ▲ 238.33 ▲ 0.99% . 
 Strait_Times.__ 3,122.20 ▲ 28.01 ▲ 0.91% . 
 NZX_50_Index_ 7,062.48 ▼ -53.21 ▼ -0.75% . 

http://finance.yahoo.com/news/stock...strial-companies-fall-152003311--finance.html

*Stocks slip from highs as energy companies sink; Dow gains*




MARLEY JAY

NEW YORK (AP) - U.S. stocks slipped Wednesday after their recent record-setting run. Energy companies stumbled, but basic materials makers rose as investors hoped two large deals will win approval from regulators.

While energy stocks fell with the price of oil, most other sectors didn't make big moves. Technology companies eked out a small gain. They have risen every day this month to reach their highest mark since 2000. DuPont and Dow Chemical rose after Reuters reported that European officials could approve their merger soon. The Dow Jones industrial average made its ninth straight gain.

After an extended streak of gains, investors didn't make many big moves. They spent most of the day waiting for the minutes from the Federal Reserve meeting three weeks ago, but those minutes contained few surprises. Bond prices rose and yields dipped.

Kate Warne, an investment strategist for Edward Jones, said the Fed's decision-makers are also waiting to learn more about the Trump administration's policy proposals and Congress' reaction to them. That might take a few months. Meanwhile investors, too, will wait.

"They want to see the data, they want to see more on inflation, and they would like more certainty about any fiscal policy changes," she said.

The Dow average rose 32.60 points, or 0.2 percent, to 20,775.60. The Standard & Poor's 500 index lost 2.56 points, or 0.1 percent, to 2,362.82. The Nasdaq composite shed 5.32 points, or 0.1 percent, to 5,860.63. The Russell 2000 index of small-company stocks slid 6.49 points, or 0.5 percent, to 1,403.86. More stocks fell than rose on the New York Stock Exchange.

All four indexes closed at record highs Tuesday.

DuPont climbed $2.63, or 3.4 percent, to $79.80 and Dow Chemical gained $2.45, or 4 percent, to $63.67. Reuters reported that regulators in the European Union are close to approving their $62 billion combination. Antitrust officials in the U.S. and elsewhere would still have to approve that deal.

Investors appeared to grow more optimistic about a second deal in the chemicals industry: Monsanto, which has accepted a $57 billion offer from Bayer but is also waiting for regulatory approval, rose 81 cents to $111.38.

The minutes from the Federal Reserve meeting showed that officials discussed the importance of raising their primary interest rate soon, especially if the economy stays strong. Some Fed officials were worried that if interest rates stay too low, the expanding economy could cause inflation to rise too fast.

Investors don't generally expect the Fed to raise interest rates at its next meeting in March. But bond prices changed course and turned higher. The yield on the 10-year Treasury note fell to 2.41 percent from 2.43 percent late Tuesday.

Energy companies traded lower as benchmark U.S. crude lost 74 cents, or 1.4 percent, to $53.59 a barrel in New York. Brent crude, the standard for pricing international oils, fell 34 cents to $55.84 a barrel in London.

Oil and gas company Concho Resources slid $9.65, or 6.8 percent, to $131.70 after a weak fourth-quarter report and Newfield Exploration declined $3.42, or 8 percent, to $39.07 as analysts expressed concerns about its forecasts for the current year.

Drugmaker Bristol-Myers Squibb rose 57 cents, or 1 percent, to $55.35 after the Wall Street Journal reported that billionaire investor Carl Icahn bought a stake in the company. Icahn has not confirmed his investment. Just a day earlier, after Bristol-Myers reached a deal with another activist investor, Jana Partners. It will add three new directors to its board and spend $2 billion to buy back stock. Bristol-Myers stock traded at $75 in early August but plunged as investors worry that its lung cancer drug Opdivo will lose sales to other treatments.

Food and consumer products company Unilever rose after it said it will quickly review its options to find ways to increase value for shareholders. Kraft Heinz went public Friday with an offer to buy the company for $143 billion, but it withdrew that offer over the weekend after Unilever said it wasn't big enough. Unilever regained $2.06, or 4.6 percent, to $46.93 after a 7.5 percent skid Tuesday.

Technology companies wavered but finished with a small gain thanks to Facebook, which jumped $2.40, or 1.8 percent, to $136.12. The S&P 500's technology index has gained ground every day in February and is up 10 percent this year. That index is at its highest level since July 2000, four months after the dot-com boom had peaked.

The dollar slipped to 113.12 yen from 113.58 yen. The euro rose to $1.0568 from $1.0547.

In other energy trading, wholesale gasoline rose 2 cents to $1.51 a gallon. Heating oil dipped 1 cent to $1.63 a gallon. Natural gas edged up 3 cents to $2.59 per 1,000 cubic feet.

Gold slipped $5.60 to $1,233.30 an ounce. Silver lost 5 cents to $17.95 an ounce. Copper fell 1 cent to $2.73 a pound.

Britain's FTSE 100 gained 0.4 percent and Germany's DAX added 0.3 percent. In France, the CAC 40 picked up 0.1 percent. The Japanese Nikkei 225 finished unchanged while South Korea's Kospi added 0.2 percent. The Hang Seng index in Hong Kong jumped 1 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 34.7 points or ▲ 0.17% on Thursday, February 23, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,810.32 ▲ 34.72 ▲ 0.17% . 
 Nasdaq____ 5,835.51 ▼ -25.12 ▼ -0.43% . 
 S&P_500___ 2,363.81 ▲ 0.99 ▲ 0.04% . 
 30_Yr_Bond____ 3.02 ▼ -0.01 ▼ -0.46% . 

NYSE Volume           4,015,672,000              
Nasdaq Volume           1,875,337,500              

 *Europe             
Symbol... .....Last ….....Change....... * 
 FTSE_100 7,271.37 ▼ -30.88 ▼ -0.42% . 
 DAX_____ 11,947.83 ▼ -50.76 ▼ -0.42% . 
 CAC_40__ 4,891.29 ▼ -4.59 ▼ -0.09% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,832.50 ▼ -17.60 ▼ -0.30% . 
 Shanghai_Comp 3,251.38 ▼ -9.84 ▼ -0.30% . 
 Taiwan_Weight 9,769.31 ▼ -9.47 ▼ -0.10% . 
 Nikkei_225___ 19,371.46 ▼ -8.41 ▼ -0.04% . 
 Hang_Seng.__ 24,114.86 ▼ -87.10 ▼ -0.36% . 
 Strait_Times.__ 3,137.57 ▲ 15.37 ▲ 0.49% . 
 NZX_50_Index_ 7,089.52 ▲ 27.04 ▲ 0.38% . 

http://finance.yahoo.com/news/us-stocks-start-mixed-energy-151422790.html

*Stocks end mixed as investors seek safety; industrials slide*




MARLEY JAY

NEW YORK (AP) — Stocks wobbled Thursday as investors changed course and tempered their expectations for faster economic growth. Industrial companies, which have surged over the last few months, finished lower as Wall Street focused on gold, bonds, and companies that pay big dividends.

Construction equipment, transportation and metals companies skidded and small-company stocks, which are more sensitive to changes in economic growth, also slumped. Technology companies fell for the first time in February. The biggest gains went to utilities, real estate investment trusts, and other companies that pay hefty dividends. Despite all that, the Dow Jones industrial average, which tracks 30 large U.S. stocks, rose for the 10th day in a row.

Industrial companies have made big gains since November as investors expect the Trump administration and Republican Congress to ramp up spending on infrastructure. That optimism faded a bit on Thursday.

An infrastructure spending bill is one of the administration's key proposals for speeding up economic growth, along with tax cuts and reduced regulations. But Jeff Kravetz, regional investment strategist at U.S. Bank Wealth Management, said it might take a while before any bills are introduced or become law.

"They're all positive initiatives for the economy but to get any of these done is not something we can get done in a few months," he said. "We may have gotten ahead of ourselves with a lot of these initiatives."

The Dow added 34.72 points, or 0.2 percent, to 20,810.32. The Standard & Poor's 500 index rose 0.99 points to 2,363.81. The Nasdaq composite lost 25.12 points, or 0.4 percent, to 5,835.51. The Russell 2000 index of smaller-company stocks slid 9.23 points, or 0.7 percent, to 1,394.62.

Industrial companies declined for the second day in a row, and took some of their biggest losses since the presidential election. They've made big gains since November as investors expect the Trump administration and Republican Congress to ramp up spending on infrastructure. That optimism faded a bit on Thursday. Construction equipment maker Caterpillar gave up $2.65, or 2.7 percent, to $95.55, its biggest loss since September. United Rentals shed $7.16, or 5.6 percent, to $120.90.

The price of copper fell 3.3 percent to $2.64 a pound, its biggest one-day decline in more than a year. Copper is used in numerous construction projects, so its price has jumped recently. Companies that make basic materials also fell, and U.S. Steel lost $3.18, or 7.9 percent, to $37.31.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.37 percent from 2.42 percent.

That helped companies that pay big dividends, like utilities, real estate investment trusts and phone companies. Electricity company FirstEnergy picked up 60 cents, or 1.9 percent, to $31.39. Realty Income, which owns properties used by retailers like drugstores and discount stores, gained $1.72, or 2.8 percent, to $62.86.

In another sign investors were seeking some refuge, gold jumped $18.10, or 1.5 percent, to $1,251.40 an ounce and silver rose 17 cents to $18.12 an ounce.

L Brands, the owner of Victoria's Secret and Bath & Body Works, tumbled after it said February sales have been weak, especially at Victoria's Secret. The company decided to stop selling swimwear last year and said sales at older stores have dropped sharply. The stock gave up $9.19, or 15.8 percent, to $48.94.

Food conglomerate Hormel skidded after it said low turkey prices hurt its profit and sales in the first quarter, and Hormel cut its annual profit estimate because it expects those prices to remain weak. The stock fell $2.01, or 5.4 percent, to $35.29.

HP Inc. blew past analyst estimates in the fourth quarter thanks to a 10 percent jump in revenue from personal computers. The company said Notebook sales jumped, which made up for lower printer revenue and flat desktop sales. The stock added $1.40, or 8.6 percent, to $17.60.

That wasn't enough to keep the recent technology rally going, but Kravetz, of U.S. Bank, said technology stocks should continue to do well because their earnings are improving and both consumers and businesses are feeling more comfortable spending. Tech stocks are at their highest levels since the dot-com boom.

Benchmark U.S. crude oil futures rebounded, rising 86 cents, or 1.6 percent, to $54.45 a barrel in New York. Brent crude, the standard for pricing international oils, rose 61 cents to $56.58 a barrel in London.

In other energy trading, wholesale gasoline gained 2 cents to $1.53 a gallon. Heating oil rose 3 cents to $1.66 a gallon. Natural gas picked up 3 cents to $2.62 per 1,000 cubic feet.

Boston Scientific sank after it said it will take all of its Lotus Valve devices off the market and from clinical testing sites because of a manufacturing problem. The device is intended to replace damaged or defective aortic valves. Last year the company announced a similar problem with a related Lotus product. Boston Scientific stock lost 73 cents, or 2.9 percent, to $24.43, and competitor Edwards Lifescience jumped $3.55, or 3.8 percent, to $95.76.

The dollar dipped to 112.75 yen from 113.12 yen. The euro inched up to $1.0574 from $1.0568.

Britain's FTSE 100 index and Germany's DAX both declined 0.4 percent and the French CAC 40 slid 0.1 percent. Japan's benchmark Nikkei 225 lost less than 0.1 percent and the Kospi of South Korea finished 0.1 percent higher. Hong Kong's Hang Seng shed 0.4 percent.


----------



## bigdog

S&P_500___ 2,367.34 ▲ 3.53 ▲ 0.15% . 
 30_Yr_Bond____ 2.95 ▼ -0.07 ▼ -2.25% . 

NYSE Volume           3,802,612,750             
Nasdaq Volume           1,762,616,750             

 *Europe             *
* Symbol... .....Last ….....Change....... * 
 FTSE_100 7,243.70 ▼ -27.67 ▼ -0.38% . 
 DAX_____ 11,804.03 ▼ -143.80 ▼ -1.20% . 
 CAC_40__ 4,845.24 ▼ -46.05 ▼ -0.94% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,786.90 ▼ -45.60 ▼ -0.78% . 
 Shanghai_Comp 3,253.43 ▲ 2.06 ▲ 0.06% . 
 Taiwan_Weight 9,750.47 ▼ -18.84 ▼ -0.19% . 
 Nikkei_225___ 19,283.54 ▼ -87.92 ▼ -0.45% . 
 Hang_Seng.__ 23,965.70 ▼ -149.16 ▼ -0.62% . 
 Strait_Times.__ 3,117.03 ▼ -20.54 ▼ -0.65% . 
 NZX_50_Index_ 7,058.58 ▼ -30.94 ▼ -0.44% . 

http://finance.yahoo.com/news/us-stocks-slump-banks-technology-151728342.html

*US stocks dip as banks and energy companies fall*




Marley Jay, AP Markets Writer

NEW YORK (AP) — U.S. stocks are losing ground Friday as banks fall and energy companies continue to slide. The Dow Jones industrial average is on track to break a 10-day winning streak. The losses are modest, but there's far more selling than buying on Wall Street.

Investors are looking for safer places to put their money, as they've done over the last few days. Bond prices are rising and yields are dropping. That's sending interest rates lower, which hurts banks. High-dividend stocks are rising.

KEEPING SCORE: The Dow Jones industrial average lost 60 points, or 0.3 percent, to 20,749 as of 2:50 p.m. Eastern time. The Standard & Poor's 500 index fell 5 points, or 0.2 percent, to 2,358. The Nasdaq composite sank 6 points, or 0.1 percent, to 5,829. The Russell 2000 index, which tracks smaller companies, slid 2 points, or 0.1 percent, to 1,392. Major indexes are mixed this week but remain close to all-time highs.

BONDS: Bond prices sank again. The yield on the 10-year Treasury note slid to 2.32 percent from 2.39 percent. Lower bond yields push interest rates lower, which means banks will make less money on mortgages and other loans. Wells Fargo slipped $1.10, or 1.9 percent, to $57.39 and Bank of America fell 49 cents, or 2 percent, to $24.09. Investment banks and insurers traded lower as well.

With yields down, investors bought utility stocks and phone company stocks, which pay large dividends similar to bonds. Exelon gained $1.02, or 2.8 percent, to $37 and NextEra Energy rose $2.44, or 1.9 percent, to $130.63.

HPE HURTING: Hewlett Packard Enterprise, which sells data-center hardware and other commercial tech gear to big organizations, slumped after it cut its profit estimate for the year. Its business was hurt by the strong dollar, expenses, and other problems that it said will be "near-term." HP Enterprise's quarterly sales dropped 10 percent and weren't as strong as analysts hoped. Its stock skidded $1.71, or 6.9 percent, to $22.96.

Chipmakers and other technology companies also lost ground.

METAL GAINS: Gold and silver continued to rise. Gold, which jumped 1.5 percent a day earlier, picked up 0.6 percent to $1,258.30 an ounce. The metal is trading at its highest price since just after the presidential election, although it's down sharply from this summer. Silver added 1.2 percent to $18.34 an ounce and copper picked up 1.4 percent to $2.70 a pound after a steep loss the previous day. That helped mining companies trade higher.

PENNEY POUNDED: Department store operator J.C. Penney said it will close 130 to 140 stores and two distribution centers in the next few months. That's about 14 percent of its stores. Penney also said it will offer voluntary early retirement plans to about 6,000 employees. The company is trying to cut costs as it competes with online retailers. Its stock gave up 31 cents, or 4.5 percent, to $6.55.

Competitor Nordstrom jumped after it disclosed a better-than-expected quarterly profit with help from strong sales online and at Nordstrom Rack. Its shares gained $2.952, or 6.7 percent, to $46.89. Kohl's also rose $2.24, or 5.5 percent, to $43.15. The stock dipped Thursday after investors weren't thrilled by the company's fourth-quarter report.

PRISON STOCKS: For-profit prison operator Geo Group rose $1.40, or 3 percent, to $48.77 and CoreCivic added 75 cents, or 2.2 percent, to $34.75. Late Thursday, Attorney General Jeff Sessions directed the federal Bureau of Prisons to continue doing business with private prison operators. That reversed an Obama administration policy that sent the stocks tumbling when it was announced in August.

The companies operate detention facilities used by Immigration and Customs enforcement as well as prisons and they get a lot of their revenue from contracts with the federal government. Since Donald Trump was elected president in November their stocks have soared, as investors expected the Obama-era policy would be reversed and that Trump's policies toward immigration and criminal justice would strengthen their business. CoreCivic has climbed 140 percent since the election and Geo Group has doubled in value.

ENERGY: Benchmark U.S. crude oil fell 46 cents to $53.99 a barrel in New York. Brent crude, the standard for pricing international oils, fell 59 cents, or 1 percent, to $55.99 a barrel in London. Energy companies continued to trade lower. They've fallen sharply over the last month. The S&P 500 energy company index is down 7 percent this year while the broader S&P 500 is up more than 5 percent.

OTHER ENERGY TRADING: Wholesale gasoline declined 1 cent to $1.51 a gallon. Heating oil fell 2 cents to $1.64 a gallon. Natural gas picked up 1 cent to $2.63 per 1,000 cubic feet.

CURRENCIES: The dollar slid to 112.12 yen from 112.75 yen. The euro fell to $1.0561 from $1.0574.

OVERSEAS: The DAX in Germany fell 1.2 percent and France's CAC 40 slumped 0.9 percent. In Britain the FTSE 100 shed 0.4 percent. Japan's benchmark Nikkei 225 lost 0.5 percent and South Korea's Kospi fell 0.6 percent. The Hang Seng of Hong Kong fell 0.5 percent.

2106


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 15.7 points or ▲ 0.08% on Monday, February 27, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,837.44 ▲ 15.68 ▲ 0.08% . 
 Nasdaq____ 5,861.90 ▲ 16.59 ▲ 0.28% . 
 S&P_500___ 2,369.75 ▲ 2.41 ▲ 0.10% . 
 30_Yr_Bond____ 2.99 ▲ 0.03 ▲ 1.05% . 

NYSE Volume           3,557,329,750              
Nasdaq Volume           2,020,057,120              

 *Europe             
Symbol... .....Last ….....Change....... * 
 FTSE_100 7,253.00 ▲ 9.30 ▲ 0.13% . 
 DAX_____ 11,822.67 ▲ 18.64 ▲ 0.16% . 
 CAC_40__ 4,845.18 ▼ -0.06 ▲ 0.00% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,773.80 ▼ -13.10 ▼ -0.23% . 
 Shanghai_Comp 3,228.66 ▼ -24.77 ▼ -0.76% . 
 Taiwan_Weight 9,750.47 ▼ -18.84 ▼ -0.19% . 
 Nikkei_225___ 19,107.47 ▼ -176.07 ▼ -0.91% . 
 Hang_Seng.__ 23,925.05 ▼ -40.65 ▼ -0.17% . 
 Strait_Times.__ 3,108.62 ▼ -8.41 ▼ -0.27% . 
 NZX_50_Index_ 7,079.18 ▲ 20.60 ▲ 0.29% . 


http://finance.yahoo.com/news/us-stock-indexes-edge-lower-early-trading-oil-152608477.html

*New highs for US stocks; Dow win streak longest since 1987*




ALEX VEIGA

Wall Street notched another set of milestones Monday as the Dow Jones industrial average closed at a record high for the 12th consecutive time, the longest winning streak for the 30-company average in 30 years.

The Standard & Poor's 500 index, the benchmark favored by professional investors, also closed at a record high.

The latest push into the record books came on an indecisive day for U.S. stocks that sent indexes wavering between small gains and losses for much of the day. They ultimately eked out tiny gains, led by energy stocks, which climbed as the price of crude oil rose. Phone companies lagged the most.

Many investors were taking a wait-and-see approach ahead of President Donald Trump's speech to Congress on Tuesday, hoping for details of promised tax cuts, infrastructure spending and other business-friendly policies.

"It's all about policy now," said Phil Blancato, CEO of Ladenburg Thalmann Asset Management. "There's only so much the market can deliver when there's still these many unknowns, specifically the Washington impact is now as much a head wind as it is a tail wind."

The Dow Jones industrial average rose 15.68 points, or 0.1 percent, to 20,837.44. The S&P 500 gained 2.39 points, or 0.1 percent, to 2,369.73. The Nasdaq composite index added 16.59 points, or 0.3 percent, to 5,861.90. Small-company stocks fared better than the other indexes, sending the Russell 2000 index up 13.44 points, or 1 percent, to 1,407.97.

The last time the Dow posted a longer winning streak was in early January 1987, when the average rose for 13 days in a row. That streak translated into a gain of 11 percent for the Dow. Nine months later, on Oct. 19, 1987, the Dow plummeted more than 500 points, or about 22 percent, on what became known as Black Monday.

Just because the Dow is on another lengthy winning streak doesn't mean a similar market slump is in the cards now, noted Ryan Detrick, a senior market strategist for LPL Financial.

One key difference is that the Dow went on to gain another 30 percent in the months after the 13-day streak in January 1987. By comparison, the Dow is now up about 5.4 percent this year, so there's a long way to go before the market becomes as stretched as it was 30 years ago, Detrick said.

"That isn't to say a normal correction after the big surge since the U.S. election isn't possible, it is, but a major bear market correction is still something we'd call a low percentage scenario right now," he said.

U.S. stocks have benefited from the Trump administration's promise of pro-business changes, but investors have become uneasy over how large and rapid those changes will be.

During a meeting with governors Monday, Trump noted that his upcoming budget would include a big boost to defense spending. The White House separately said that the budget would include a $54 billion increase in defense spending while imposing corresponding cuts to domestic programs and foreign aid.

Talk of more defense spending gave a lift to defense contractors Monday. Raytheon added $1.35, or 0.9 percent, to $154.83. Northrop Grumman gained $3.55, or 1.4 percent, to $248.60. Lockheed Martin climbed $5.18, or 2 percent, to $269.36.

Expectations that the Trump administration will ramp up infrastructure spending projects also gave materials companies a boost. Martin Marietta Materials rose $5.21, or 2.5 percent, to $215.26, while Vulcan Materials added $2.78, or 2.4 percent, to $120.60. Summit Materials gained 50 cents, or 2.1 percent, to $24.25.

Trump's speech Tuesday to a joint session of Congress is expected to include more details of how the administration plans to carry out promises to cut taxes and step up infrastructure spending.

"The markets had this incredible run, much of it based on potential tax policy, and what everyone wants to see tomorrow night is some more details," said JJ Kinahan, chief market strategist at TD Ameritrade.

Traders also weighed the latest crop of company earnings and outlooks.

Tegna climbed 3.5 percent after the media company's latest earnings beat Wall Street's estimates. The stock rose 86 cents to $25.66.

Power company AES fell 6.6 percent after its full-year profit forecast disappointed investors. The stock lost 79 cents to $11.14.

Consumer stocks were among the biggest decliners as shares in several supermarket operators fell. Kroger slid $1.07, or 3.2 percent, to $32.22, while Whole Foods Market dipped 46 cents, or 1.5 percent, at $31.10.

Major stock indexes overseas were mixed.

Benchmark U.S. crude rose 6 cents to close at $54.05 a barrel in New York. Brent crude, used to price international oils, slipped 6 cents to close at $55.93 in London.

Bond prices fell. The 10-year Treasury yield rose to 2.37 percent from 2.32 percent late Friday.

In Europe, Germany's DAX rose 0.2 percent, while France's CAC-40 was flat. London's FTSE-100 added 0.1 percent. In Asia, Tokyo's Nikkei 225 index fell 0.9 percent. Hong Kong's Hang Seng slid 0.2 percent. Seoul's Kospi shed 0.4 percent. Sydney's S&P-ASX 200 lost 0.3 percent.

The dollar rose to 112.80 yen from Friday's 111.98 yen. The euro rose to $1.0589 from $1.0565.

In other energy trading, wholesale gasoline added 2 cents to $1.53 a gallon, while heating oil was little changed at $1.64 a gallon. Natural gas futures shed 9 cents, or 3.4 percent, at $2.69 per 1,000 cubic feet.

Among metals, the price of gold edged up 50 cents to $1,258.80 an ounce. Silver added 2 cents to $18.35 an ounce. Copper rose a penny to $2.69 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -25 points or ▼ -0.12% on Tuesday, February 28, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,812.24 ▼ -25.20 ▼ -0.12% . 
 Nasdaq____ 5,825.44 ▼ -36.46 ▼ -0.62% . 
 S&P_500___ 2,363.64 ▼ -6.11 ▼ -0.26% . 
 30_Yr_Bond____ 2.97 ▼ -0.02 ▼ -0.60% . 

NYSE Volume           4,206,794,500              
Nasdaq Volume           2,384,570,500              

 *Europe             
Symbol... .....Last ….....Change....... * 
 FTSE_100 7,263.44 ▲ 10.44 ▲ 0.14% . 
 DAX_____ 11,834.41 ▲ 11.74 ▲ 0.10% . 
 CAC_40__ 4,858.58 ▲ 13.40 ▲ 0.28% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,761.00 ▼ -12.80 ▼ -0.22% . 
 Shanghai_Comp 3,241.73 ▲ 13.07 ▲ 0.40% . 
 Taiwan_Weight 9,750.47 ▼ -18.84 ▼ -0.19% . 
 Nikkei_225___ 19,118.99 ▲ 11.52 ▲ 0.06% . 
 Hang_Seng.__ 23,740.73 ▼ -184.32 ▼ -0.77% . 
 Strait_Times.__ 3,096.61 ▼ -12.01 ▼ -0.39% . 
 NZX_50_Index_ 7,167.46 ▲ 88.28 ▲ 1.25% . 

http://finance.yahoo.com/news/us-stock-indexes-edge-lower-early-trading-oil-151741473--finance.html

*Stocks edge lower, breaking a 12-day win streak for the Dow*




ALEX VEIGA

A slide led by Target and other big retailers pulled U.S. stock indexes lower Tuesday, snapping a 12-day winning streak for the Dow Jones industrial average.

Industrial stocks and phone companies were also among the big decliners. Energy companies fell as crude oil prices edged lower. Utilities stocks eked out a gain.

Investors were focused on an evening speech by President Donald Trump to Congress in hopes of gleaning more details on the timing of tax cuts and other policies.

"The next direction of this market, in our view, is going to be very much driven by the ability of the administration to start putting into action some of the things that the market has gotten excited about, mainly tax reform more than anything else," said Rob Eschweiler, global investment specialist at J.P. Morgan Private Bank.

The Dow fell 25.20 points, or 0.1 percent, to 20,812.24. The Standard & Poor's 500 index slid 6.11 points, or 0.3 percent, to 2,363.64. The Nasdaq composite index lost 36.46 points, or 0.6 percent, to 5,825.44.

Small-company stocks fell more than the rest of the market. The Russell 2000 index slumped 21.29 points, or 1.5 percent, to 1,386.68.

Bond prices fell. The 10-year Treasury yield rose to 2.39 percent from 2.37 percent late Monday.

Trump was scheduled to deliver his first speech to a joint session of Congress Tuesday evening. On Monday the president told a group of governors that his budget would propose increasing defense spending by $54 billion while cutting domestic programs and foreign aid by the same amount. He also said "We're going to start spending on infrastructure big."

Since the election in November, expectations of tax reform, deregulation and ramped up spending on defense and infrastructure projects has pushed the stock market higher. Investors are looking for more clarity on business-friendly policies, but also on trade, immigration and other Trump administration policy initiatives that have made some investors nervous.

"(The market) has priced in all the positive aspects of some of his campaign promises, but what it hasn't done is price in the negatives that could result from health care, trade policies, border taxes, things like that which are a little bit less clear," said Lindsey Bell, investment strategist at CFRA Research.

Traders weren't entirely focused on Washington on Tuesday. They continued to size up the latest company earnings and outlooks.

Target plunged 12.2 percent after the retail chain's latest quarterly profit fell short of Wall Street's forecasts. The company also issued a weak outlook. The stock was lost $8.14 to $58.77.

Perrigo slumped 11.7 percent after investors reacted to several disclosures by the Irish drugmaker, including disappointing guidance for 2017 and the company's decision to sell its royalty rights to a multiple sclerosis drug for as much as $2.85 billion. Perrigo said the sale will hurt its earnings, but noted it plans to use the proceeds to pay down some of its debts. The stock slid $9.91 to $74.77.

Improved earnings and outlooks gave weight loss company Nutrisystem a big boost. The stock vaulted $7.30, or 18.6 percent, to $46.50.

Shares in Priceline climbed 5.6 percent after the online booking company posted strong quarterly earnings. The stock gained $92.12 to $1,724.13.

Online brokers fell sharply after Fidelity announced a cut in trading commissions.

ETrade Financial fell $2.69, or 7.2 percent, to $34.51, while Charles Schwab gave up $1.32, or 3.2 percent, to $40.41. TD Ameritrade slid $4.56, or 10.5 percent, to $39.10. Fidelity is privately held.

Signet Jewelers was the biggest decliner in the S&P 500 following a report of widespread sexual harassment and discrimination at a subsidiary. The Washington Post first reported the allegations Monday, based on newly released class-action arbitration filings. The stock tumbled $9.29, or 12.7 percent, to $63.59.

Investors also weighed new data on the economy. The Commerce Department said that the U.S. economy grew at a 1.9 percent rate in the last three months of 2016, unchanged from an initial estimate. The increase in the gross domestic product, the broadest measure of economic health, represented a significant slowdown from 3.5 percent growth recorded in the third quarter.

The major indexes in Europe notched gains. Germany's DAX rose 0.1 percent, while the CAC 40 in France gained 0.3 percent. The FTSE 100 index of leading British shares added 0.1 percent.

Earlier in Asia, Japan's benchmark Nikkei 225 index trimmed strong earlier gains to finish less than 0.1 percent higher. South Korea's Kospi rose 0.3 percent. Hong Kong's Hang Seng lost 0.8 percent. Australia's S&P/ASX 200 shed 0.2 percent to 5,712.20.

Benchmark U.S. crude slipped 4 cents, or 0.1 percent, to close at $54.01 a barrel in New York. Brent crude, which is used to price international oils, fell 34 cents, or 0.6 percent, to close at $55.59 a barrel in London.

In other energy trading, wholesale gasoline shed 2 cents to $1.51 a gallon, while heating oil slid 2 cents to $1.62 a gallon. Natural gas futures rose 8 cents, or 3 percent, at $2.77 per 1,000 cubic feet.

Among metals, the price of gold fell $4.90 to $1,253.90 an ounce. Silver added 7 cents to $18.42 an ounce. Copper rose 2 cents to $2.70 a pound.

In currency trading, the dollar fell to 112.17 yen from 112.80 on Monday. The euro strengthened to $1.0597 from $1.0589.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 303 points or ▲ 1.46% on Wednesday, March 1, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 21,115.55 ▲ 303.31 ▲ 1.46% . 
 Nasdaq____ 5,904.03 ▲ 78.59 ▲ 1.35% . 
 S&P_500___ 2,395.96 ▲ 32.32 ▲ 1.37% . 
 30_Yr_Bond____ 3.07 ▲ 0.10 ▲ 3.47% . 

NYSE Volume           4,318,562,500              
Nasdaq Volume           2,240,406,250              

 *Europe             
Symbol... .....Last ….....Change....... * 
 FTSE_100 7,382.90 ▲ 119.46 ▲ 1.64% . 
 DAX_____ 12,067.19 ▲ 232.78 ▲ 1.97% . 
 CAC_40__ 4,960.83 ▲ 102.25 ▲ 2.10% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,750.90 ▼ -10.10 ▼ -0.18% . 
 Shanghai_Comp 3,246.93 ▲ 5.20 ▲ 0.16% . 
 Taiwan_Weight 9,674.78 ▼ -75.69 ▼ -0.78% . 
 Nikkei_225___ 19,393.54 ▲ 274.55 ▲ 1.44% . 
 Hang_Seng.__ 23,776.49 ▲ 35.76 ▲ 0.15% . 
 Strait_Times.__ 3,122.77 ▲ 26.16 ▲ 0.84% . 
 NZX_50_Index_ 7,148.78 ▼ -18.68 ▼ -0.26% . 

http://finance.yahoo.com/news/us-stocks-surge-early-trading-dow-crosses-21-152328361--finance.html


*Record highs for US stocks; Dow crosses 21,000-point mark*




ALEX VEIGA

Investors bet big on U.S. stocks Wednesday, giving the market its biggest single-day gain in nearly four months and pushing the major indexes to record highs.

The Dow Jones industrial average rose above 21,000 points for the first time in what was the biggest gain for the blue-chip index so far this year.

Banks were the biggest gainers amid heightened expectations that an improving economy will lead to higher interest rates. Energy stocks also notched big gains. Utilities and real estate stocks lagged. The dollar strengthened against the yen and euro and other major currencies. Bond prices fell, as did the price of crude oil and gold.

Optimism over corporate tax cuts, deregulation and other business-friendly policy proposals reiterated by President Donald Trump during a speech before Congress helped fuel the rally. Growing speculation that the Federal Reserve may soon elect to raise interest rates again also helped put traders in a buying mood.

"We're seeing a strong risk-on rally in the face of rising expectations of Fed action as early as March based on a belief there will be a pro-growth agenda that gets enacted," said Bill Northey, chief investment officer of the Private Client Group at U.S. Bank. "It's been what I would characterize as a bit of market euphoria on the back of the president's address to the joint session of Congress last night."

The Dow jumped 303.31 points, or 1.5 percent, to 21,115.55. At one point, the 30-company average was up more than 356 points. The Dow hadn't been up more than 300 points in one day since November.

The Standard & Poor's 500 index gained 32.32 points, or 1.4 percent, to 2,395.96. That's the biggest single-day gain for the index, the benchmark favored by professional investors, since early November.

The Nasdaq composite index added 78.59 points, or 1.4 percent, to 5,904.03. Small-company stocks continued to outpace the rest of the market, a bullish signal on the economy. The Russell 2000 index rose 26.95 points, or 1.9 percent, to 1,413.64.

All four indexes closed at new all-time highs. Each had set new highs last month.

Bond prices fell and yields rose after a key Federal Reserve official, New York Fed President William Dudley, said the case for raising interest rates had gotten stronger. The 10-year Treasury yield rose to 2.46 percent from 2.40 percent late Tuesday.

Strong gains in major global stock indexes overnight and into early Wednesday hinted at the possibility of another milestone day for Wall Street.

Better-than-expected company earnings and outlooks from Lowe's, Big 5 Sporting Goods and other companies also helped give the market a boost.

But it is the prospect of more profitable days ahead for Corporate America that encouraged investors to pile into stocks.

On Tuesday night, Trump struck a less confrontational tone than usual and steered away from dramatically negative descriptions of the state of the U.S. economy. Trump also reaffirmed his pledges to reform taxes, slash red tape and ramp up spending on defense and infrastructure projects, though his remarks offered few new policy specifics. The proposed reforms have helped send U.S. stock benchmarks to record highs in the weeks since the election in November.

"The market has shifted from being worried about lower growth for longer, to expecting more growth sooner rather than later," said Chris Zaccarelli, chief investment officer for Cornerstone Financial Partners.

Financials led all other sectors in the S&P 500, climbing 2.8 percent. The sector is up 8.1 percent this year. JPMorgan Chase climbed $2.98, or 3.3 percent, to $93.60. Goldman Sachs rose $4.65, or 1.9 percent, to $252.71.

Traders bid up shares in several companies that reported strong quarterly results or outlooks.

Lowe's climbed $7.08, or 9.5 percent, to $81.45, while Big 5 Sporting Goods gained $1.75, or 13 percent, to $15.20.

Builders FirstSource, a maker of building materials, jumped 12.4 percent, getting a boost from rising lumber prices. The stock gained $1.60 to $14.54.

Babcock & Wilcox Enterprises was among the biggest laggards. The energy sector supply company sank 37.4 percent after its latest quarterly report card and guidance fell short of financial analysts' expectations. The stock lost $6.17 to $10.33.

Etsy slumped 11.8 percent after the online crafts marketplace issued guidance that fell short of Wall Street's expectations. The stock shed $1.43 to $10.69.

Markets overseas posted solid gains.

In Europe, Germany's DAX rose 2 percent, while France's CAC 40 gained 2.1 percent. Britain's FTSE 100 picked up 1.6 percent. Earlier in Asia, Japan's benchmark Nikkei 225 gained 1.4 percent and Hong Kong's Hang Seng added 0.2 percent.

U.S. crude fell 18 cents to $53.83 a barrel in New York. Brent crude, used to price international oils, lost 15 cents to close at $56.36 a barrel in London.

Wholesale gasoline shed 5 cents, or 3 percent, to close at $1.68 a gallon, while heating oil slid 2 cents to $1.62 a gallon. Natural gas rose 3 cents to close at $2.80 per 1,000 cubic feet.

The dollar rose to 113.71 yen from 112.17 yen. The euro slipped to $1.0544 from $1.0597.

The price of gold fell $3.90 to $1,250 an ounce. Silver added 2 cents to $18.44 an ounce. Copper rose 2 cents to $2.73 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -113 points or ▼ -0.53% on Thursday, March 2, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 21,002.97 ▼ -112.58 ▼ -0.53% . 
 Nasdaq____ 5,861.22 ▼ -42.81 ▼ -0.73% . 
 S&P_500___ 2,381.92 ▼ -14.04 ▼ -0.59% . 
 30_Yr_Bond____ 3.08 ▲ 0.01 ▲ 0.36% . 

NYSE Volume           3,820,742,750              
Nasdaq Volume           2,163,959,250              

 *Europe             
Symbol... .....Last ….....Change....... * 
 FTSE_100 7,382.35 ▼ -0.55 ▼ -0.01% . 
 DAX_____ 12,059.57 ▼ -7.62 ▼ -0.06% . 
 CAC_40__ 4,963.80 ▲ 2.97 ▲ 0.06% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,820.70 ▲ 69.80 ▲ 1.21% . 
 Shanghai_Comp 3,230.03 ▼ -16.91 ▼ -0.52% . 
 Taiwan_Weight 9,691.80 ▲ 17.02 ▲ 0.18% . 
 Nikkei_225___ 19,564.80 ▲ 171.26 ▲ 0.88% . 
 Hang_Seng.__ 23,728.07 ▼ -48.42 ▼ -0.20% . 
 Strait_Times.__ 3,136.48 ▲ 13.71 ▲ 0.44% . 
 NZX_50_Index_ 7,175.83 ▲ 27.05 ▲ 0.38% . 

http://finance.yahoo.com/news/us-stock-indexes-mixed-early-152937227.html

*US stock indexes pull back from record highs; Oil falls*




ALEX VEIGA

Banks and other financial companies led a slide in U.S. stocks Thursday, erasing some of the gains from a day earlier, when indexes soared to their latest record highs.

Materials and industrials companies also fell sharply. Energy stocks declined along with the price of crude oil. Utilities and phone company stocks bucked the broader market slide.

Investors mostly focused on the latest batch of company news and earnings reports. Traders had an eye on the Federal Reserve amid growing speculation this week that the central bank will raise interest rates again later this month.

"You have the market wondering if the economy is in fact strong enough for a rate hike at this point," said Quincy Krosby, market strategist at Prudential Financial. "After the run-up we had yesterday, this is a good excuse for the market to pause."

The Dow Jones industrial average lost 112.58 points, or 0.5 percent, to 21,002.97. The Standard & Poor's 500 index fell 14.04 points, or 0.6 percent, to 2,381.92. The Nasdaq composite index slid 42.81 points, or 0.7 percent, to 5,861.22.

Small-company stocks fell more than the rest of the market. The Russell 2000 index gave up 17.97 points, or 1.3 percent, to 1,395.67.

The stock market was coming off its biggest single-day gain in nearly four months.

Bond prices fell, pushing yields higher. The 10-year Treasury yield rose to 2.48 percent from 2.46 percent late Wednesday.

Several Federal Reserve officials, including Fed Chair Janet Yellen, are scheduled to speak this week ahead of their next policy meeting later this month. Earlier this week, New York Fed President William Dudley said the case for raising interest rates had gotten stronger. That's helped fuel speculation that the central bank will raise interest rates again this month.

"While it's plausible the Fed lets the U.S. economy run hot before acting, the economic backdrop, in our view, warrants a Fed hike in March," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. "In a slow-growth, improving environment we think that's favorable for equities."

Banks, which investors bid sharply higher Wednesday on hopes that higher interest rates would help them earn more from lending, were the biggest losers Thursday.

Citizens Financial Group fell $1.54, or 3.9 percent, to $38.05, while Regions Financial slid 59 cents, or 3.7 percent, to $15.32. Zions Bancorporation gave up $1.57, or 3.4 percent, to $44.96.

The major stock indexes headed lower from the get-go early Thursday as investors considered results from several companies that reported disappointing earnings or forecasts.

Kroger slid 4.3 percent after the supermarket operator said business conditions in the first half of 2017 will remain difficult due to low food prices. The stock fell $1.39 to $30.67.

Barnes & Noble tumbled 8.6 percent after the book seller reported weaker-than-expected earnings and sales of its Nook e-book reader. The company also said business worsened in late January and into the current quarter and forecast a bigger decline in sales at established locations. Its shares slid 85 cents to $9.05.

Shake Shack lost 2.6 percent after the restaurant chain's sales at established locations and its revenue outlook fell short of Wall Street's forecasts. Its shares lost 95 cents to $35.17.

Some companies fared better.

Monster Beverage jumped 12.8 percent after the company's latest quarterly earnings and revenue exceeded Wall Street's expectations. The stock was the biggest gainer in the S&P 500, climbing $5.36 to $47.37.

Abercrombie & Fitch vaulted 13.9 percent after the clothing company said its Hollister brand did well in its most recent quarter. The stock added $1.63 to $13.32.

Best Buy climbed 6.4 percent after rival hhgregg announced plans to close 88 stores and three distribution facilities. Best Buy gained $2.71 to $44.85.

Investors also jumped at the chance to snap up shares in Snap, the parent company of the Snapchat messaging app. The stock soared 44 percent in its stock market debut, climbing to $24.48, far above its initial price of $17.

News that federal law enforcement officials executed a search warrant last week of several Caterpillar facilities sent shares in the farming and construction equipment manufacturer sliding 4.3 percent. The company said it is cooperating with law enforcement, but did not elaborate. The stock lost $4.22 to $94.36.

In Europe, Germany's DAX slipped 0.1 percent, while France's CAC 40 was 0.1 percent higher. Britain's FTSE 100 was flat. Earlier in Asia, Tokyo's Nikkei 225 stock index rose 0.9 percent, while the Hang Seng index in Hong Kong added 0.5 percent.

The price of U.S. crude fell $1.22, or 2.3 percent, to close at $52.61 a barrel in New York. Brent crude, used to price international oils, lost $1.28, or 2.3 percent, to close at $55.08 a barrel.

Wholesale gasoline shed 3 cents, or 2.1 percent, to close at $1.64 a gallon. Heating oil slid 5 cents, or 2.8 percent, to close at $1.58 a gallon. Natural gas rose 1 cent to close at $2.80 per 1,000 cubic feet.

The dollar strengthened to 114.51 yen from 113.71 yen on Wednesday. The euro weakened to $1.0501 from $1.0544.

Gold fell $17.10, or 1.4 percent, to $1,232.90 an ounce. Silver slid 74 cents, or 4 percent, to $17.71 an ounce. Copper shed 5 cents, or 1.7 percent, to $2.68 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 2.74 points or ▲ 0.01% on Friday, March 3, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 21,005.71 ▲ 2.74 ▲ 0.01% . 
 Nasdaq____ 5,870.75 ▲ 9.53 ▲ 0.16% . 
 S&P_500___ 2,383.12 ▲ 1.20 ▲ 0.05% . 
 30_Yr_Bond____ 3.08 ▲ 0.00 ▲ 0.06% . 

NYSE Volume           3,493,376,000             
Nasdaq Volume           2,013,145,620             

 *Europe             *
* Symbol... .....Last ….....Change....... * 
 FTSE_100 7,374.26 ▼ -8.09 ▼ -0.11% . 
 DAX_____ 12,027.36 ▼ -32.21 ▼ -0.27% . 
 CAC_40__ 4,995.13 ▲ 31.33 ▲ 0.63% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,775.40 ▼ -45.30 ▼ -0.78% . 
 Shanghai_Comp 3,218.31 ▼ -11.72 ▼ -0.36% . 
 Taiwan_Weight 9,648.21 ▼ -43.59 ▼ -0.45% . 
 Nikkei_225___ 19,469.17 ▼ -95.63 ▼ -0.49% . 
 Hang_Seng.__ 23,552.72 ▼ -175.35 ▼ -0.74% . 
 Strait_Times.__ 3,122.34 ▼ -14.14 ▼ -0.45% . 
 NZX_50_Index_ 7,160.87 ▼ -14.96 ▼ -0.21% . 

http://finance.yahoo.com/news/us-stock-indexes-edge-lower-early-trading-oil-151812368--finance.html

*Banks, health care companies lead stocks slightly higher*




ALEX VEIGA

A late wave of buying helped nudge U.S. stock indexes slightly higher Friday after a day of mostly listless trading.

Banks and health care stocks climbed the most as investors priced in an increasing likelihood that interest rates will rise in the coming months.

Federal Reserve Chair Janet Yellen helped stoke those expectations in a speech in which she said an improving job market and rising inflation would likely prompt the central bank to increase borrowing costs.

"The real takeaway here is if the Fed is willing to start moving, they see the economy as not only doing better but likely to do better going forward," said Brad McMillan, chief investment officer at Commonwealth Financial Network. "The Fed is notorious for waiting until the evidence of growth is absolutely undeniable."

The Dow Jones industrial average rose 2.74 points, or 0.01 percent, to 21,005.71. The Standard & Poor's 500 index gained 1.20 points, or 0.1 percent, to 2,383.12. The Nasdaq composite index added 9.53 points, or 0.2 percent, to 5,870.75. Small-company stocks fell. The Russell 2000 index slipped 1.54 points, or 0.1 percent, to 1,394.13.

Speaking in Chicago on the Fed's economic outlook Friday, Yellen said the Fed will likely resume raising interest rates later this month to reflect a strengthening job market and inflation edging toward the central bank's 2 percent target rate.

Yellen added that the central bank expects steady economic improvement to justify additional rate increases. While not specifying how many rate hikes could occur this year, Yellen noted that Fed officials in December had estimated that there would be three this year.

Investors' expectations of a rate hike this month had been building in recent days as remarks by other Fed officials signaled the central bank is ready to resume raising rates as soon as its next two-day meeting of policymakers on March 14-15.

That's one reason the major indexes moved little before and after Yellen's speech.

Still, the increased likelihood of higher interest rates gave several stocks a modest lift, including banks, which stand to make healthier profits from lending as rates rise. Bank of the Ozarks added $1.09, or 2 percent, to $56.24, while Signature Bank rose $2.79, or 1.7 percent, to $162.24.

Not faring as well were real estate, utilities and phone company stocks, which tend to lose favor among yield-seeking investors when interest rates rise.

"If yields are going up you don't need to buy those stocks to get your yield, you just buy 10-Year Treasury notes," said John Canally, chief economic strategist for LPL Financial.

Bond prices were little changed after pulling back from an early climb. The 10-year Treasury yield held steady at 2.48 percent.

Wall Street's slight gains on Friday left the stock market hovering near its latest record highs set on Wednesday.

Stronger-than-expected earnings from companies, continued improvement in the U.S. economy and expectations for business-friendly policies from Washington have helped propel the market this year to new highs. Should investors be nervous about a pullback?

"In the very short term there is some risk of a pullback," said Randy Frederick, vice president of trading and derivatives at the Schwab Center for Financial Research. "I wouldn't say it's likely to approach anything close to a correction, or a 10 percent pullback. Long-term, we continue to think we're solidly in a bull market."

Airlines were among the stocks that notched solid gains Friday.

American Airlines Group rose $1.10, or 2.4 percent, to $46.82, while Alaska Air Group added $2.58, or 2.7 percent, to $98.94. United Continental picked up $2.31, or 3.2 percent, to $75.59.

Disappointing company earnings and outlooks pulled down several stocks.

Costco fell $7.72, or 4.3 percent, to $170.26. Firearms manufacturer American Outdoor Brands, formerly called Smith & Wesson, declined 55 cents, or 2.8 percent, to $18.83.

Revlon slid $1.40, or 4.1 percent, to $32.65, while L Brands, the parent of Victoria's Secret, fell $1.07, or 2 percent, to $52.34.

Macy's also fell sharply, one of several retailers that closed lower Friday. The department store chain declined the most among stocks in the S&P 500, skidding $1.45, or 4.4 percent, to $31.77.

Big Lots bucked the trend, climbing 3.8 percent after the discount retailer reported a larger profit than analysts expected. The stock added $1.98 to $54.23.

Major indexes in Europe were mixed. Germany's DAX fell 0.3 percent, while France's CAC 40 rose 0.6 percent. Britain's FTSE slipped 0.1 percent. Earlier in Asia, Japan's Nikkei 225 index fell 0.5 percent, while South Korea's Kospi sank 1.1 percent. Hong Kong's Hang Seng index lost 0.7 percent.

Energy futures rose. Benchmark U.S. crude gained 72 cents, or 1.4 percent, to close at $53.33 a barrel in New York. Brent crude, used to price international oils, added 82 cents, or 1.5 percent, to close at $55.90 a barrel in London. Wholesale gasoline picked up a penny to close at $1.65 a gallon. Heating oil added a penny to close at $1.59 a gallon. Natural gas rose 2 cents to close at $2.83 per 1,000 cubic feet.

The dollar fell to 114.04 yen from 114.51 yen on Thursday. The euro rose to $1.0599 from $1.0502.

Gold fell $6.40 to $1,226.50 an ounce. Silver slipped a penny to $17.70 an ounce. Copper rose a penny to $2.69 a pound.

2444


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -51 points or ▼ -0.24% on Monday, March 6, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,954.34 ▼ -51.37 ▼ -0.24% . 
 Nasdaq____ 5,849.18 ▼ -21.58 ▼ -0.37% . 
 S&P_500___ 2,375.31 ▼ -7.81 ▼ -0.33% . 
 30_Yr_Bond____ 3.10 ▲ 0.01 ▲ 0.45% . 

NYSE Volume           3,231,479,750              
Nasdaq Volume           1,921,194,500              

 *Europe             
Symbol... .....Last ….....Change....... * 
 FTSE_100 7,350.12 ▼ -24.14 ▼ -0.33% . 
 DAX_____ 11,958.40 ▼ -68.96 ▼ -0.57% . 
 CAC_40__ 4,972.19 ▼ -22.94 ▼ -0.46% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,788.50 ▲ 13.10 ▲ 0.23% . 
 Shanghai_Comp 3,233.87 ▲ 15.55 ▲ 0.48% . 
 Taiwan_Weight 9,682.63 ▲ 34.42 ▲ 0.36% . 
 Nikkei_225___ 19,379.14 ▼ -90.03 ▼ -0.46% . 
 Hang_Seng.__ 23,596.28 ▲ 43.56 ▲ 0.18% . 
 Strait_Times.__ 3,121.51 ▼ -0.83 ▼ -0.03% . 
 NZX_50_Index_ 7,178.74 ▲ 17.87 ▲ 0.25% . 

http://finance.yahoo.com/news/us-stocks-slip-further-record-152145443.html

*Losses for banks pull US stocks further from record highs*




MARLEY JAY

NEW YORK (AP) — U.S. stocks finished lower Monday for the second time in the last three trading days. Banks gave back some of their recent gains after a jump in interest rates last week sent them sharply higher.

Mining and chemical companies declined after China cut its economic growth forecast, and airlines slumped after a Delta said its business isn't improving as fast as it hoped. There were few winners to be found on Wall Street as more than two-thirds of the stocks on the New York Stock Exchange fell. That included consistent losses for banks, investment firms and insurance companies.

The Standard & Poor's 500 index fell 7.81 points, or 0.3 percent, to 2,375.31. The Dow Jones industrial average lost 51.37 points, or 0.2 percent, to 20,954.34. The Nasdaq composite lost 21.58 points, or 0.4 percent, to 5,849.17. The Russell 2000 index of smaller-company stocks sank 9.88 points, or 0.7 percent, to 1,384.25.

All four indexes reached all-time highs last week, and the S&P 500 and Nasdaq have risen for six weeks in a row. That's on top of a big surge in November and December. Those rapid gains the last few months have prompted some analysts to turn cautious.

"We think there's a reasonable chance at the end of the year we'll be a little bit lower than we are right now," said Scott Wren, senior global equity strategist at Wells Fargo Investment Institute.

Over the weekend Premier Li Keqiang, China's top economic official, trimmed the country's growth target to 6.5 percent. The Chinese economy is the second-largest in the world, and the prospect of slower growth there hurt mining, packaging and chemical companies and sent the price of copper lower.

But investors weren't nearly as alarmed about the latest signs of slowing growth in China as they were in the past. Stocks plunged in early 2016 as investors worried the Chinese economy might weaken in a hurry and drag the global economy down with it. Wren said Wall Street now thinks growth in China will slow down gradually.

"The market's pretty comfortable with this controlled slowdown," he said. "A lot of that sell-off was due to the fear that Chinese growth was ... basically going to collapse," he said.

Delta Air Lines gave a disappointing revenue projection for the second quarter and its stock lost $1.28, or 2.6 percent, to $48.85. United and American Airlines each fell 3 percent.

Poultry companies slumped after 70,000 chickens were killed at a Tennessee farm after a bird flu outbreak was discovered there. The affected farm is a supplier to Tyson Foods, and while Tyson said it doesn't expect its business to suffer, the new brought back bad memories for investors: in 2015, U.S. poultry producers lost 48 million birds to a different strain of the virus.

Tyson stock gave up $1.61, or 2.5 percent, to $61.99. Sanderson Farms gave up $1.86, or 2 percent, to $92.53 and Pilgrim's Pride lost 25 cents, or 1.2 percent, to $20.70.

French automaker PSA Group agreed to buy General Motors' European business, which has lost $20 billion since 1999 and hasn't made an annual profit over that span. Investors were glad to see it go, as GM's stock jumped almost 5 percent when the talks were disclosed last month. PSA makes Peugeot and Citroen cars, and the addition of the Opel and Vauxhall brands will make it the second-largest automaker in Europe. Its stock rose 2.7 percent.

GM's stock dipped 32 cents to $37.91.

Bond prices continued to slip. The yield on the 10-year Treasury note rose to 2.49 percent from 2.48 percent. Bond yields jumped last week as investors grew more certain the Federal Reserve will raise interest rates this month.

Companies that pay big dividends, like real estate investment trusts, fell again. Those stocks are often compared to bonds because of their high yields, and higher bond yields make them less appealing to investors.

Benchmark U.S. crude lost 13 cents to $53.20 a barrel in New York. Brent crude, used to price international oils, picked up 11 cents to $56.01 a barrel in London. Natural gas companies rose as futures jumped 2.6 percent to $2.90 per 1,000 cubic feet.

In other energy trading, wholesale gasoline rose 2 cents to $1.67 a gallon and heating oil picked up 1 cent to $1.60 a gallon.

Gold fell $1 to $1,225.50 an ounce. Silver rose 3 cents to $17.77 an ounce. Copper lost 4 cents, or 1.7 percent, to $2.65 a pound.

The dollar inched down to 113.92 yen from 114.05 yen. The euro dipped to $1.0588 from $1.0605.

In Germany the DAX fell 0.6 percent. France's CAC 40 slipped 0.5 percent and the FTSE 100 in Britain shed 0.3 percent. Japan's Nikkei 225 stock index fell 0.5 percent and the South Korean Kospi gained 0.1 percent. Hong Kong's Hang Seng index added 0.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -30 points or ▼ -0.14% on Tuesday, March 7, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,924.76 ▼ -29.58 ▼ -0.14% . 
 Nasdaq____ 5,833.93 ▼ -15.25 ▼ -0.26% . 
 S&P_500___ 2,368.38 ▼ -6.93 ▼ -0.29% . 
 30_Yr_Bond____ 3.11 ▲ 0.01 ▲ 0.39% . 

NYSE Volume           3,502,167,750              
Nasdaq Volume           1,902,514,500              

 *Europe             
Symbol... .....Last ….....Change....... * 
 FTSE_100 7,338.99 ▼ -11.13 ▼ -0.15% . 
 DAX_____ 11,966.14 ▲ 7.74 ▲ 0.06% . 
 CAC_40__ 4,955.00 ▼ -17.19 ▼ -0.35% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,801.90 ▲ 13.40 ▲ 0.23% . 
 Shanghai_Comp 3,242.41 ▲ 8.54 ▲ 0.26% . 
 Taiwan_Weight 9,738.07 ▲ 55.44 ▲ 0.57% . 
 Nikkei_225___ 19,344.15 ▼ -34.99 ▼ -0.18% . 
 Hang_Seng.__ 23,681.07 ▲ 84.79 ▲ 0.36% . 
 Strait_Times.__ 3,130.44 ▲ 8.93 ▲ 0.29% . 
 NZX_50_Index_ 7,167.63 ▼ -11.11 ▼ -0.15% . 

http://finance.yahoo.com/news/health-care-stocks-fall-early-153122207.html

*Losses for drugmakers, hospitals pull stocks lower*




MARLEY JAY

NEW YORK (AP) — U.S. stocks declined for the third time in four days on Tuesday as health care companies took center stage.

Drugmakers fell after President Donald Trump said he wants to bring drug prices down. Insurers rose and hospital companies dropped after Republicans in Congress introduced a bill intended to replace the 2010 Affordable Care Act.

Pharmaceutical and biotechnology companies fell after Trump said in a morning tweet that he intends to bring down drug prices. The health care proposal gave big health insurers a boost, but hurt companies that do a lot of business with Medicaid.

It's not clear if the bill will pass the Senate, as several Republicans have already questioned it. Stocks turned lower at the end of the day as that criticism increased, leaving the fate of the current bill, a key part of Trump's agenda, uncertain.

"We're going to still be having this conversation six months from now," said Les Funtleyder, health care portfolio manager for E Squared Asset Management.

Elsewhere, energy companies continued to slip and technology companies made smallish gains. Stocks hadn't fallen for two consecutive days since the end of January, and set their latest record highs last Wednesday.

The Standard & Poor's 500 index lost 6.92 points, or 0.3 percent, to 2,368.39. The Dow Jones industrial average lost 29.58 points, or 0.1 percent, to 20,924.76. The Nasdaq composite sagged 15.25 points, or 0.3 percent, to 5,833.93. Two stocks fell for every one that rose on the New York Stock Exchange.

On Thursday the current bull market will turn eight years old. It's lasted longer than any other since World War II except for the decade-long run that ended in early 2000.

Since the middle of 2015 drug companies have repeatedly tumbled as investors worried that the government would take action to reduce prices or at least curb price increases. While Trump has talked about dealing with the issue before, he has never discussed details. Funtleyder said the task might be harder than it sounds.

"There's no government mechanism at the moment to control costs directly," he said.

Companies that make high-price drugs took some of the largest losses. Biotechnology company Alexion Pharmaceuticals shed $4.15, or 3.1 percent, to $129.18. Alexion makes Soliris, a high-priced drug that treats two rare genetic disorders. Mallinckrodt, which has faced criticism over repeated increases in the price of its HP Acthar gel, gave up $1.55, or 3 percent, to $49.71.

Pharmacy benefits manager Express Scripts and biotech company Gilead Sciences each fell as they bickered over the price of Gilead's hepatitis C drugs, some of which are listed at $1,000 a pill. Express Scripts lost $2.66, or 3.8 percent, to $67.39 and Gilead slid $1.10, or 1.6 percent, to $69.02.

The Republican health care legislation would provide tax credits for people buying their own insurance and would scale back the government's role in helping people afford coverage. It would likely leave more Americans uninsured and would also overhaul Medicaid, a joint federal-state health program for low-income Americans.

Hospital operators tumbled. Community Health Systems lost 9.3 percent and Tenet Healthcare sank 7.1 percent. Insurers that do a lot of business with Medicaid, such as Molina Healthcare, also fell. But the largest national health insurers did better than the rest of the market. Humana added $5.21, or 2.4 percent, to $217.95, the largest gain among S&P 500 stocks.

Benchmark U.S. crude lost 6 cents to $53.14 a barrel in New York. Brent crude, used to price international oils, lost 9 cents to $55.92 a barrel in London. Energy companies continued to lag the market, however, continuing a pattern that's persisted since late last year. Hess lost $1.52, or 3 percent, to $49.51 and Exxon Mobil slipped 31 cents, or 0.4 percent, to $82.52 while natural gas companies fell with the price of that fuel.

Technology companies did better than the rest of the market. Video game maker Electronic Arts rose $1.16, or 1.3 percent, to $88.30. Data storage company Nimble Storage soared after it agreed to be bought by Hewlett Packard Enterprise $12.50 a share, or about $1 billion. Its stock rose $3.98, or 46.3 percent, to $12.58.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.52 percent from 2.50 percent.

In other energy trading, wholesale gasoline rose 1 cent to $1.68 a gallon. Heating oil added 1 cent to $1.61 a gallon. Natural gas fell 8 cents, or 2.7 percent, to $2.82 per 1,000 cubic feet.

Gold dropped $9.40 to $1,216.10 an ounce. Silver lost 24 cents, or 1.3 percent, to $17.54 an ounce. Copper fell 3 cents, or 1.3 percent, to $2.62 a pound.

The dollar bounced back to 114.05 yen from 113.92 yen. The euro fell to $1.0568 from $1.0588.

The CAC 40 in France traded 0.3 percent lower. Germany's DAX rose 0.1 percent and the FTSE 100 index in Britain slid 0.2 percent. The Nikkei 225 stock index in Tokyo edged 0.2 percent lower. The Hang Seng gained 0.4 percent and South Korea's Kospi gained 0.6 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -69 points or ▼ -0.33% on Wednesday, March 8, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,855.73 ▼ -69.03 ▼ -0.33% . 
 Nasdaq____ 5,837.55 ▲ 3.62 ▲ 0.06% . 
 S&P_500___ 2,362.98 ▼ -5.41 ▼ -0.23% . 
 30_Yr_Bond____ 3.15 ▲ 0.04 ▲ 1.16% . 

NYSE Volume           3,810,930,000              
Nasdaq Volume           1,855,787,250              

 *Europe             
Symbol... .....Last ….....Change....... * 
 FTSE_100 7,334.61 ▼ -4.38 ▼ -0.06% . 
 DAX_____ 11,967.31 ▲ 1.17 ▲ 0.01% . 
 CAC_40__ 4,960.48 ▲ 5.48 ▲ 0.11% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,799.50 ▼ -2.40 ▼ -0.04% . 
 Shanghai_Comp 3,240.66 ▼ -1.74 ▼ -0.05% . 
 Taiwan_Weight 9,753.45 ▲ 15.38 ▲ 0.16% . 
 Nikkei_225___ 19,254.03 ▼ -90.12 ▼ -0.47% . 
 Hang_Seng.__ 23,782.27 ▲ 101.20 ▲ 0.43% . 
 Strait_Times.__ 3,145.29 ▲ 14.85 ▲ 0.47% . 
 NZX_50_Index_ 7,178.22 ▲ 10.59 ▲ 0.15% . 

http://finance.yahoo.com/news/us-st...private-hiring-report-151204817--finance.html

*Stock indexes end mostly lower as the price of oil plunges*




MARLEY JAY

NEW YORK (AP) — U.S. stocks fell for the third day in a row as energy companies tumbled along with the price of crude oil. Investors also sold high-dividend stocks as bond yields rose, giving investors other alternatives for seeking income.

Crude oil prices fell 5 percent, their biggest drop in more than a year, after the government reported a big buildup in fuel stockpiles.

A survey by a payroll company showed that private companies added the most jobs in three years in February, a sign of stronger economic growth. That helped send bond prices lower and yields higher. The report showed big increases in construction and manufacturing hiring.

According to industry measurements and government data, manufacturing and business investment have improved in the last few months after a steep slump. However investors have longed for evidence manufacturing and construction companies were bringing on more workers, and there wasn't much of that until Wednesday.

"It's not surprising that you would start to see the hiring improve in that sector," said Katie Nixon, chief investment officer for Northern Trust. "It's been a drag on economic growth the last couple of years."

The Standard & Poor's 500 index dipped 5.41 points, or 0.2 percent, to 2,362.98. The Dow Jones industrial average lost 69.03 points, or 0.3 percent, to 20,855.73. The Nasdaq composite rose 3.62 points, or 0.1 percent, to 5,836.55 as health care and technology companies moved higher.

Private businesses added 298,000 jobs last month, according to payroll processor ADP. That came after a slightly smaller gain in January. The U.S. government will issue its own report on the broader jobs market Friday.

Bond prices dropped. The yield on the 10-year Treasury note jumped to 2.56 percent from 2.52 percent.

Federal Reserve policymakers will meet next week, and investors expect the central bank to raise interest rates for the first time since December. Nixon says long-term bond yields could reach roughly 3 percent in a few months.

Stocks that pay big dividends such as utilities and real estate investment trusts are often compared to bonds because of their hefty payments to shareholders. When bond yields rise, investors often sell those stocks so they can buy bonds instead. High-dividend companies also fall out of favor when Wall Street expects faster economic growth. Utility holding company PG&E gave up $1.10, or 1.7 percent, to $65.16 and Realty Income dropped $2.14, or 3.6 percent, to $57.70.

The Energy Information Administration said oil reserves grew by 8 million barrels last week, far more than analysts expected. Benchmark U.S. crude sagged $2.86, or 5.4 percent, to $50.28 a barrel in New York, its lowest price since late November. Brent crude, used to price international oils, fell $2.81, or 5 percent, to $53.11 a barrel in London.

Energy stocks are already lagging the market in 2017, and on Wednesday the 13 biggest losers among S&P 500 companies all came from the energy industry. Marathon Oil lost $1.41, or 8.7 percent, to $14.87 and Devon Energy sank $2.84, or 6.5 percent, to $40.72.

Almost three-fourths of the stocks on the New York Stock Exchange finished lower as some sectors that might have been expected to rise on the prospect of faster economic growth missed out on the day's gains.

Banks, which have skyrocketed since the election, finished little changed despite the jump in bond yields. Industrial companies declined. Caterpillar lost $2.70, or 2.8 percent, to $93.23 as a government probe into its taxes and accounting remained in the news. Smaller, domestically focused companies also fell, as the Russell 2000 index of small-company stocks fell 8.84 points, or 0.6 percent, to 1,366.04.

Medical device and equipment makers moved slightly higher, and biotechnology companies bounced partway back after sharp losses a day earlier. Investors worried about price limits or cuts after President Donald Trump tweeted that he is working on a plan to reduce prices. The Nasdaq Biotechnology index rose 0.9 percent after a 1.5 percent loss Tuesday.

The dollar rose to 114.42 yen from 114.05 yen. The euro slipped to $1.0548 from $1.0568.

In other energy trading, wholesale gasoline shed 3 cents to $1.65 a gallon. Heating oil dropped 6 cents, or 3.5 percent, to $1.56 a gallon. Natural gas jumped 8 cents, or 2.7 percent, to $2.90 per 1,000 cubic feet.

Gold fell $6.70 to $1,209.40 an ounce. Silver lost 24 cents, or 1.4 percent, to $17.30 an ounce. Copper gave up 2 cents to $2.60 a pound.

The French CAC 40 rose 0.1 percent and the DAX in German was little changed. The FTSE 100 in Britain lost 0.1 percent. Tokyo's Nikkei 225 index shed 0.5 percent and in Hong Kong the Hang Seng advanced 0.4 percent. The Kospi in South Korea was unchanged.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 2.46 points or ▲ 0.01% on Thursday, March 9, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,858.19 ▲ 2.46 ▲ 0.01% . 
 Nasdaq____ 5,838.81 ▲ 1.25 ▲ 0.02% . 
 S&P_500___ 2,364.87 ▲ 1.89 ▲ 0.08% . 
 30_Yr_Bond____ 3.18 ▲ 0.04 ▲ 1.18% . 

NYSE Volume           3,692,238,750              
Nasdaq Volume           1,950,914,500              

 *Europe             
Symbol... .....Last ….....Change....... * 
 FTSE_100 7,314.96 ▼ -19.65 ▼ -0.27% . 
 DAX_____ 11,978.39 ▲ 11.08 ▲ 0.09% . 
 CAC_40__ 4,981.51 ▲ 21.03 ▲ 0.42% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,780.50 ▼ -19.00 ▼ -0.33% . 
 Shanghai_Comp 3,216.75 ▼ -23.92 ▼ -0.74% . 
 Taiwan_Weight 9,658.61 ▼ -94.84 ▼ -0.97% . 
 Nikkei_225___ 19,318.58 ▲ 64.55 ▲ 0.34% . 
 Hang_Seng.__ 23,501.56 ▼ -280.71 ▼ -1.18% . 
 Strait_Times.__ 3,118.84 ▼ -26.45 ▼ -0.84% . 
 NZX_50_Index_ 7,140.98 ▼ -37.24 ▼ -0.52% . 

http://finance.yahoo.com/news/stocks-hold-steady-oil-prices-151000506.html

*Some Anniversary: Stocks Barely Move as Bull Market Turns 8 *





By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks meandered Thursday as the eighth anniversary for the current bull market turned out to be a quiet one.

Large-company stocks finished mostly higher, but declines in smaller stocks across the board meant that more companies fell than rose on the New York Stock Exchange.

The market started out with small gains, then dipped in the early afternoon. Thanks to late gains for energy companies, major indexes turned higher near the end of trading.

Industrial companies dipped as heavy machinery maker Caterpillar continues to slide. Health care companies climbed and banks rose along with bond yields. Trading was light following a three-day losing streak.

The Standard & Poor's 500 index picked up 1.89 points, or 0.1 percent, to 2,364.87 Thursday. The Dow Jones industrial average gained 2.46 points to 20,858.19. The Nasdaq composite rose 1.25 points to 5,838.81. The Russell 2000 index of small-company stocks lost 5.92 points, or 0.4 percent, to 1,360.12. More than two-thirds of the stocks on the NYSE ended lower.

The S&P 500 is up 250 percent since March 9, 2009, when it bottomed out in the depths of the financial crisis. The current bull run is the second-longest since World War II and it may have a while to go, as wages are growing and hiring appears to be on the rise.

"Bull markets typically don't die of old age," said David Lefkowitz, senior equity strategist at UBS Wealth Management Americas. "They typically die because there's a downturn in the economy."

Lefkowitz said there are few signs that will happen any time soon. While the Federal Reserve is likely to raise interest rates next week, inflation remains low and he said the Fed's actions shouldn't stifle economic growth.


"The key question is how quickly does inflation continue to rise from here and how aggressive does the Fed need to get," he said.

Health care companies made the biggest gains. The leaders included Johnson & Johnson, which rose $1.85, or 1.5 percent, to $125.95. Cancer drug maker Celgene added $2.09, or 1.7 percent, to $125.13 while medical device maker Edwards Lifesciences contributed $3.53, or 3.9 percent, to $93.06.

Crude oil prices continued to slip after the U.S. government reported a huge buildup in fuel stockpiles Wednesday. Oil is now trading at its lowest price since November, before OPEC countries agreed to reduce production in an effort to shore up prices.

Benchmark U.S. oil fell $1, or 2 percent, to $49.28 a barrel in New York. Brent crude, the international standard, lost 92 cents, or 1.7 percent, to $52.19 a barrel in London. Energy companies lost ground early in the day but jumped in the final hour of trading.

Bond prices fell further. The yield on the 10-year Treasury note rose to 2.60 percent, near its highest level in the past year, from 2.56 percent. Banks and other financial firms moved up. Wells Fargo added 49 cents to $58.70 and Intercontinental Exchange picked up 67 cents, or 1.1 percent, to $60.06.

Caterpillar fell another $1.84, or 2 percent, to $91.39 as the government investigates the company's taxes and accounting. The stock is down almost 8 percent since March 1. Elsewhere, American Airlines led airlines lower after it reported weak February traffic. It lost $1.56, or 3.5 percent, to $43.33.

Sears Holdings rose 52 cents, or 6.9 percent, to $8.01 after the company took a smaller adjusted loss than it did a year ago. Investors were also pleased the struggling chain kept its inventory and expenses under control. Signet Jewelers said it will spend more money on technology as it closes mall-based stores, and its stock rose $5.62, or 8.7 percent, to $70.02.


Office supply company Staples reported fourth-quarter sales that were far weaker than analysts expected and the company said it will close another 70 stores in North America. The stock gave up 47 cents, or 5.2 percent, to $8.49.

Tailored Brands, the parent of Men's Wearhouse and Jos. A. Bank, plunged $7.53, or 32.2 percent, to $15.84. The company disclosed a bigger loss than expected along with disappointing sales. The company also said it wants to rework an agreement with Macy's, as its tuxedo shops inside Macy's stores are struggling.

The dollar rose to 114.74 yen from 114.42 yen. The euro rose to $1.0586 from $1.0548.

In other energy trading, wholesale gasoline fell 3 cents to $1.62 a gallon. Heating oil lost 3 cents to $1.53 a gallon. Natural gas rose 7 cents, or 2.5 percent, to $2.97 per 1,000 cubic feet.

Gold fell for the eighth day in a row. It lost $6.20 to $1,203.20 an ounce and the price of silver lost another 26 cents, or 1.5 percent, to $17.04 an ounce. Copper declined 2 cents to $2.58 a pound.

Britain's FTSE 100 index sank 0.3 percent while German DAX added 0.1 percent and the CAC 40 in France gained 0.4 percent. The CAC 40 has jumped 2.5 percent this month, far more than other major European indexes. Japan's benchmark Nikkei 225 index climbed 0.3 percent as a weaker yen lifted shares of exporters. South Korea's Kospi dipped 0.2 percent and the Hang Seng in Hong Kong lost 1.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 44.8 points or ▲ 0.21% on Friday, March 10, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,902.98 ▲ 44.79 ▲ 0.21% . 
 Nasdaq____ 5,861.73 ▲ 22.92 ▲ 0.39% . 
 S&P_500___ 2,372.60 ▲ 7.73 ▲ 0.33% . 
 30_Yr_Bond____ 3.17 ▼ -0.01 ▼ -0.44% . 

NYSE Volume           3,421,390,250          
Nasdaq Volume           2,208,180,000          

 *Europe             *
* Symbol... .....Last ….....Change....... * 
 FTSE_100 7,343.08 ▲ 28.12 ▲ 0.38% . 
 DAX_____ 11,963.18 ▼ -15.21 ▼ -0.13% . 
 CAC_40__ 4,993.32 ▲ 11.81 ▲ 0.24% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,811.20 ▲ 30.70 ▲ 0.53% . 
 Shanghai_Comp 3,212.76 ▼ -3.99 ▼ -0.12% . 
 Taiwan_Weight 9,627.89 ▼ -30.72 ▼ -0.32% . 
 Nikkei_225___ 19,604.61 ▲ 286.03 ▲ 1.48% . 
 Hang_Seng.__ 23,568.67 ▲ 67.11 ▲ 0.29% . 
 Strait_Times.__ 3,133.35 ▲ 14.51 ▲ 0.47% . 
 NZX_50_Index_ 7,177.59 ▲ 36.61 ▲ 0.51% . 

http://finance.yahoo.com/news/us-stocks-break-slump-february-jobs-report-152410882--finance.html

*Stocks rise higher after strong jobs report; tech leads*




MARLEY JAY

NEW YORK (AP) — Led by technology companies, U.S. stocks rose Friday after a strong February jobs report. Most parts of the market moved higher as investors wait for the Federal Reserve to meet next week. The central bank is almost universally expected to raise interest rates.

The jobs report was a bit better than investors expected, but they had assumed it would show employers are adding jobs at a solid clip. They had also anticipated since last week that the Fed will raise interest rates next Wednesday, and the data did nothing to challenge that. Technology, industrial and health care companies climbed while energy companies missed out on the rally as oil prices continued to fall.

"It was a solid report all around that reinforces that the economy is on solid footing," said Sameer Samana, a strategist for the Wells Fargo Investment Institute. Samana said investors are glad to see continued hiring and more people seeking work, but they're also glad the economy isn't gaining strength too quickly. That might force the Fed to raise interest rates faster, with uncertain effects on the economy.

"If they go too quickly or raise rates too many times, there's a risk we'll find ourselves in a downturn," he said.

The Standard & Poor's 500 index rose 7.73 points, or 0.3 percent, to 2,372.60. The Dow Jones industrial average gained 44.79 points, or 0.2 percent, to 20,902.98. The Nasdaq composite added 22.92 points, or 0.4 percent, to 5,861.73.

Stocks had mostly fallen since March 1, the day indexes soared to their most recent record highs.

Overall it was a slow week for stocks. The current bull market had its eighth anniversary, but six-week winning streaks for the S&P 500 and Nasdaq ended, and the Russell 2000 index of small-company stocks took its biggest loss in three months.

U.S. employers added 235,000 jobs in February, according to the Department of Labor. The gains in hiring and pay, along with higher consumer and business confidence since the November election, could lift spending and investment in coming months and accelerate economic growth.

A poor jobs report was probably the last thing that could have stopped the Federal Reserve from raising interest rates next week.

Technology companies climbed thanks in part to gains for chipmakers. Applied Materials gained 74 cents, or 2 percent, to $38.12 and Broadcom rose $4.34, or 2 percent, to $226.35. Texas Instruments picked up $1.20, or 1.5 percent, to $80.33.

General Electric climbed 62 cents, or 2.1 percent, to $30.28 to lead industrial companies higher. Engine maker Cummins added $2.66, or 1.8 percent, to $151.50 and industrial equipment and software maker Rockwell Automation gained $2.13, or 1.4 percent, to $154.31.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.58 percent from 2.61 percent. The dip in bond yields and interest rates pushed banks lower while big-dividend stocks went higher. Those included utilities, phone companies and makers of everyday household goods. AT&T picked up 41 cents, or 1 percent, to $42.35 and Colgate-Palmolive rose 89 cents, or 1.2 percent, to $72.46.

Beauty products retailer Ulta climbed after it reported a bigger profit and stronger sales than analysts had expected. The stock gained $12.65, or 4.6 percent, to $286.42 and it's up 75 percent over the last year. Competitor Estee Lauder gained $2.78, or 3.4 percent, to $85.66.

Oil prices moved lower for the fifth day in a row. Benchmark U.S. oil dipped another 79 cents, or 1.6 percent, to $48.49 a barrel in New York. After small losses early in the week, the price of U.S. crude dropped 9 percent over the last three days after the government reported a big increase in stockpiles. Brent crude, the international standard, lost 82 cents, or 1.6 percent, to $51.37 a barrel in London.

Meanwhile Zumiez became the latest clothing retailer to take a steep loss as analysts worried about its sales projections. The company said its sales declined in February, and its forecasts for the first quarter came up short of estimates. The stock fell $2.60, or 12.4 percent, to $18.40.

The dollar inched up to 114.78 yen from 114.74 yen. The euro rose to $1.0692 from $1.0586.

Gold fell $1.80 to $1,201.40 an ounce. That small decline was the ninth in a row for the precious metal. Silver slipped 11 cents to $16.92 an ounce. Copper gained 2 cents to $2.60 a pound.

In other energy trading, wholesale gasoline gave up 2 cents to $1.60 a gallon. Heating oil shed 3 cents to $1.50 a gallon. Natural gas gained 3 cents to $3 per 1,000 cubic feet.

The CAC 40 in France rose 0.4 percent and the FTSE 100 index in Britain picked up 0.2 percent. Germany's DAX dipped 0.1 percent. Tokyo's Nikkei 225 jumped 1.5 percent as the dollar surged against the yen, favoring manufacturers. South Korea's Kospi added 0.3 percent and in Hong Kong the Hang Seng index added 0.3 percent.

2685


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -22 points or ▼ -0.10% on Monday, March 13, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,881.48 ▼ -21.50 ▼ -0.10% . 
 Nasdaq____ 5,875.78 ▲ 14.06 ▲ 0.24% . 
 S&P_500___ 2,373.47 ▲ 0.87 ▲ 0.04% . 
 30_Yr_Bond____ 3.19 ▲ 0.02 ▲ 0.73% . 

NYSE Volume           3,147,362,750              
Nasdaq Volume           1,999,211,620              

 *Europe             
Symbol... .....Last ….....Change....... * 
 FTSE_100 7,367.08 ▲ 24.00 ▲ 0.33% . 
 DAX_____ 11,990.03 ▲ 26.85 ▲ 0.22% . 
 CAC_40__ 4,999.60 ▲ 6.28 ▲ 0.13% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,794.60 ▼ -16.60 ▼ -0.29% . 
 Shanghai_Comp 3,237.02 ▲ 24.26 ▲ 0.76% . 
 Taiwan_Weight 9,697.34 ▲ 69.45 ▲ 0.72% . 
 Nikkei_225___ 19,633.75 ▲ 29.14 ▲ 0.15% . 
 Hang_Seng.__ 23,829.67 ▲ 261.00 ▲ 1.11% . 
 Strait_Times.__ 3,147.15 ▲ 13.80 ▲ 0.44% . 
 NZX_50_Index_ 7,194.79 ▲ 17.20 ▲ 0.24% . 

http://finance.yahoo.com/news/wait-see-us-stocks-listless-ahead-jam-packed-141130711--finance.html

*Wait and see: Stocks steady at beginning of jam-packed week*




STAN CHOE

NEW YORK (AP) — Stocks held steady in a calm day of trading Monday, but the storm may be coming.

This upcoming week is full of events that could swing markets: The Federal Reserve may raise interest rates, more countries around the world may move to shake up the economic status quo and several high-profile updates on the U.S. economy are due.

That's all in the near future, though. Monday's calendar was decidedly light, and the Standard & Poor's 500 index flipped between modest gains and losses before closing at 2,373.47, up just 0.87 points, just 0.04 percent. It remains within 1 percent of its record, which was set earlier this month.

The Dow Jones industrial average fell 21.50 points, or 0.1 percent, to 20,881.48. The Nasdaq rose 14.06 points, or 0.2 percent, to 5,875.78. Three stocks rose for every two that fell on the New York Stock Exchange.

In such a hectic week, one event still stands out from the rest: the Federal Reserve's meeting on interest rates, which begins Tuesday and ends Wednesday. Most investors expect the Fed to raise rates for only the third time since they went to nearly zero during the financial crisis in 2008.

Usually, rising interest rates are bad news for stocks because they make borrowing more expensive and can be a drag on economic growth. But many analysts say this time may be different. As long as the pace is gradual, these increases will only be getting rates back to normal rather than slamming the brakes on the economy.

It was only a few weeks ago that many investors were expecting the Fed to stand pat at its March meeting and then raise rates later in the spring. But expectations have swung following a series of strong reports on the economy. The headliner was Friday's jobs report, which showed healthy levels of hiring.

A year ago, such a swing in expectations may have meant a sell-off in stocks as investors worried about the impact of higher rates, said JJ Kinahan, chief market strategist at TD Ameritrade. Now, it's met with more equanimity because investors are focusing instead on the improving economy and hopes for bigger corporate profits in the future.

"It's a very good sign," Kinahan said. "It shows that people do have faith in stocks."

Investors will likely focus more on what Fed Chair Janet Yellen has to say after the announcement than on the rate increase itself, which is expected to be only a quarter of a percentage point.

"What the market is curious about is: How many more rate increases will there be, and what is the primary data that would drive that?" Kinahan said.

The job market has been on the upswing recently, and so has inflation. But a recent drop in the price of oil may pull down inflation levels, which could encourage the Fed to move more slowly. The government will offer updates this week on inflation at both the consumer and wholesale levels, along with reports on retail sales and other economic indicators.

The yield on the 10-year Treasury note rose to 2.61 percent from 2.58 percent late Friday and is approaching its highest level since 2014. The two-year yield rose to 1.37 percent from 1.35 percent, while the 30-year yield climbed to 3.21 percent from 3.16 percent.

The Fed isn't the only central bank meeting on interest rates this week. So are the Bank of England, Bank of Japan and others around the world.

Many economists expect the Bank of England to hold steady, but another action in London could garner more attention. The government could formally begin the process of exiting the European Union. The U.K. voted to leave the union last summer, one of a growing number of populations around the world trying to throw off the status quo.

The Netherlands has its own election this week, where politicians have also railed against the European Union and immigrants. Later this year, elections will occur in France and Germany.

In Europe, France's CAC 40 rose 0.1 percent, Britain's FTSE 100 rose 0.3 percent and Germany's DAX rose 0.2 percent. In Asia, Japan's Nikkei 225 stock index rose 0.1 percent, South Korea's Kospi rose 1 percent and the Hang Seng in Hong Kong jumped 1.1 percent.

Urban Outfitters had the biggest loss in the S&P 500 after dropping 96 cents, or 3.8 percent, to $24.21. S&P Dow Jones Indices said on Friday that it will remove the retailer from the S&P 500 index of large stocks and put it in the S&P 400 index of mid-cap stocks instead.

Mobileye, an Israeli autonomous-driving company, surged after it agreed to sell itself to Intel for $63.54 per share in cash. Its U.S.-listed shares rose $13.35, or 28.2 percent, to $60.62. Intel slipped 75 cents, or 2.1 percent, to $35.16.

The dollar largely held steady against its rivals. It dipped to 114.77 Japanese yen from 114.78 yen late Friday. The euro fell to $1.0660 from $1.0692, and the British pound rose to $1.2231 from $1.2177.

The price of a barrel of benchmark U.S. crude oil fell 9 cents to close at $48.40 a barrel. Brent crude, which is used to price international oils, slipped 2 cents to close at $51.35 a barrel in London. In other energy trading, wholesale gasoline fell 2 cents to $1.58 a gallon, heating oil was little changed at $1.50 a gallon and natural gas rose 3.5 cents to $3.043 per 1,000 cubic feet.

Gold rose $1.70 to settle at $1,203.10 an ounce, silver rose 5 cents to $16.97 an ounce and copper rose 3 cents to $2.63 a pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -44 points or ▼ -0.21% on Tuesday, March 14, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,837.37 ▼ -44.11 ▼ -0.21% . 
 Nasdaq____ 5,856.82 ▼ -18.97 ▼ -0.32% . 
 S&P_500___ 2,365.45 ▼ -8.02 ▼ -0.34% . 
 30_Yr_Bond____ 3.17 ▼ -0.02 ▼ -0.63% . 

NYSE Volume           3,172,268,000              
Nasdaq Volume           1,991,715,880              

 *Europe             
Symbol... .....Last ….....Change....... * 
 FTSE_100 7,357.85 ▼ -9.23 ▼ -0.13% . 
 DAX_____ 11,988.79 ▼ -1.24 ▼ -0.01% . 
 CAC_40__ 4,974.26 ▼ -25.34 ▼ -0.51% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,798.10 ▲ 3.50 ▲ 0.06% . 
 Shanghai_Comp 3,239.33 ▲ 2.30 ▲ 0.07% . 
 Taiwan_Weight 9,744.21 ▲ 46.87 ▲ 0.48% . 
 Nikkei_225___ 19,609.50 ▼ -24.25 ▼ -0.12% . 
 Hang_Seng.__ 23,827.95 ▼ -1.72 ▼ -0.01% . 
 Strait_Times.__ 3,143.40 ▼ -3.75 ▼ -0.12% . 
 NZX_50_Index_ 7,167.05 ▼ -10.04 ▼ -0.14% . 

http://finance.yahoo.com/news/waiting-hardest-part-stocks-step-141551678.html

*Another drop for oil prices pulls stock indexes lower*




STAN CHOE

NEW YORK (AP) — Stock indexes sank Tuesday after yet another drop in the price of oil dragged down shares across the energy industry. Other areas of the market saw modest losses as investors wait to hear from the Federal Reserve, which began a two-day policy meeting on interest rates.

The Standard & Poor's 500 index fell 8.02 points, or 0.3 percent, to 2,365.45. The Dow Jones industrial average fell 44.11, or 0.2 percent, to 20,837.37. The Nasdaq composite fell 18.97, or 0.3 percent, to 5,856.82. Two stocks fell on the New York Stock Exchange for every one that rose.

The price of oil has been slipping on concerns that supplies will outweigh demand. It's dropped from nearly $55 per barrel in late February to $47.72 on Tuesday, down 68 cents, or 1.4 percent. Brent crude, which is used to price international oils, fell 43 cents to $50.92 per barrel in London.

It's the seventh straight decline in the price of oil. Energy stocks in the S&P 500 fell 1.1 percent, the largest loss among the 11 sectors that make up the index. Marathon Oil fell 52 cents, or 3.3 percent, to $15.32.

Lower oil prices help to curb inflation, and bond yields sank in tandem. The yield on the 10-year Treasury note fell to 2.59 percent from 2.63 percent late Monday. The 30-year yield sank to 3.18 percent from 3.21 percent, while the two-year yield dipped to 1.37 percent from 1.38 percent.

Stocks of smaller companies sank more than the rest of the market. The Russell 2000 of small-cap stocks lost 0.6 percent, double the decline of the S&P 500 index of the largest stocks.

When the Fed finishes its meeting on Wednesday, most economists expect it to raise interest rates by a quarter of a percentage point. It would be only the third increase since the Fed slashed rates to a record of nearly zero in 2008 during the financial crisis.

What investors are likely more interested to hear is what Fed Chair Janet Yellen says about the pace of future increases. The job market, stock prices and other economic indicators have picked up momentum in recent months, which raises expectations for more increases.

In the past, expectations for higher rates may have spooked stock investors, because more-expensive borrowing can slow the economy. That's not happening this time.

"We're in an environment now where the market is no longer afraid of Fed hikes because the perception now is the Fed is hiking for the right reasons," said Jon Adams, senior investment strategist at BMO Global Asset Management.

As long as the economy continues to improve and interest-rate hikes are only gradual, analysts say stocks can maintain their lofty heights.

One key risk, Adams said, is that many of the encouraging data points from recent months have come from opinion surveys, such as confidence levels for consumers and purchasing managers. He'd like to see that optimism translate into more action by shoppers and businesses, whether that's by spending or producing more, before getting more confident.

Airline stocks had some of the market's biggest losses after the industry canceled thousands of flights in the face of fierce snowstorms. United Continental fell $3.30, or 4.7 percent, to $66.55, while rival Southwest Airlines lost $1.61, or 3 percent, to $52.88 and American Airlines Group dropped $1.16, or 2.7 percent, to $41.21 .

Valeant Pharmaceuticals fell $1.22, or 10.1 percent, to $10.89 after one of its biggest investors sold its entire stake in the company. Valeant's stock has tumbled nearly 96 percent since its peak in the summer of 2015 because the company is facing more scrutiny for raising prices on its drugs. Activist investor Bill Ackman's Pershing Square said Monday it has sold its investment Valeant.

Health care stocks held relatively steady overall amid increased expectations that the Republican proposal to overhaul the Affordable Care Act is unlikely to pass in its current form. The sector fell 0.3 percent.

The nonpartisan Congressional Budget Office said late Monday that the Republican proposal would result in 24 million more uninsured people over a decade, while trimming the federal deficit by $337 billion.

In the currency market, the British pound fell against the dollar after Parliament gave its prime minister the authority to divorce Britain from the European Union. Scotland's first minister, meanwhile, called for a referendum to break free of the United Kingdom.

The pound fell to $1.2145 from $1.2231 late Monday. The euro fell to $1.0632 from $1.0660, and the dollar dipped to 114.72 Japanese yen from 114.77 yen.

In commodity trading, gold fell 50 cents to settle at $1,202.60 an ounce, silver fell 5 cents to $16.92 an ounce and copper rose 1 cent to $2.64 a pound. Wholesale gasoline was little changed at $1.58 a gallon, heating oil fell 1 cent to $1.49 a gallon and natural gas fell 11 cents to $2.94 per 1,000 cubic feet.

In Europe, Germany's DAX stock index was close to flat, while the U.K.'s FTSE 100 slipped 0.1 percent and the French CAC 40 lost 0.4 percent. In Asia, Japan's Nikkei 225 stock index dipped 0.1 percent, South Korea's Kospi rose 0.8 percent and the Hang Seng in Honk Kong was close to flat.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 113 points or ▲ 0.54% on Wednesday, March 15, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,950.10 ▲ 112.73 ▲ 0.54% . 
 Nasdaq____ 5,900.05 ▲ 43.23 ▲ 0.74% . 
 S&P_500___ 2,385.26 ▲ 19.81 ▲ 0.84% . 
 30_Yr_Bond____ 3.11 ▼ -0.07 ▼ -2.08% . 

NYSE Volume           3,824,772,000              
Nasdaq Volume           2,105,728,250              

 *Europe             
Symbol... .....Last ….....Change....... * 
 FTSE_100 7,368.64 ▲ 10.79 ▲ 0.15% . 
 DAX_____ 12,009.87 ▲ 21.08 ▲ 0.18% . 
 CAC_40__ 4,985.48 ▲ 11.22 ▲ 0.23% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,813.70 ▲ 15.60 ▲ 0.27% . 
 Shanghai_Comp 3,241.76 ▲ 2.43 ▲ 0.08% . 
 Taiwan_Weight 9,740.31 ▼ -3.90 ▼ -0.04% . 
 Nikkei_225___ 19,577.38 ▼ -32.12 ▼ -0.16% . 
 Hang_Seng.__ 23,792.85 ▼ -35.10 ▼ -0.15% . 
 Strait_Times.__ 3,137.43 ▼ -5.97 ▼ -0.19% . 
 NZX_50_Index_ 7,131.30 ▼ -45.79 ▼ -0.64% . 

http://finance.yahoo.com/news/ahead-fed-stocks-climb-spending-sales-reports-140601768--finance.html

*Stocks climb, led by energy companies and dividend payers*




STAN CHOE

NEW YORK (AP) — Stocks clambered higher Wednesday for their biggest gain in two weeks and easily absorbed the Federal Reserve's latest increase in interest rates, a move that was widely expected.

What was perhaps unexpected was the big drop in bond yields and the dollar's value against other currencies following the Fed's announcement. The central bank stressed that it plans to move gradually and stuck to its projection that it will raise rates a total of three times this year. That cooled speculation among some investors that the Fed could move more aggressively.

The Standard & Poor's 500 index jumped 19.81 points, or 0.8 percent, to 2,385.26. It had been up through the day, and the gains accelerated immediately after the Fed made its announcement.

The Dow Jones industrial average rose 112.73 points, or 0.5 percent, to 20,950.10. The Nasdaq composite picked up 43.23 points, or 0.7 percent, to 5,900.05. The Russell 2000 index of small-company stocks jumped 20.45 points, or 1.5 percent, to 1,382.83. Gains were widespread, and seven stocks rose on the New York Stock Exchange for every one that fell.

The Fed raised short-term interest rates by a quarter of a percentage point, its third such move since the end of 2015. The move was widely expected after various Fed officials gave speeches telegraphing the increase and reports showed that the economy continues to strengthen and inflation has picked up.

The data have been so encouraging that some investors began to speculate whether the Fed may raise rates more aggressively. The yield on the two-year Treasury note, which is heavily influenced by changes in Fed policy, jumped on expectations for Fed action, for example. It climbed nearly a quarter of a percentage point in a little more than two weeks to 1.38 percent late Tuesday.

When the Fed said that it's sticking with its forecast for three rate increases this year, the two-year yield gave up nearly half of that increase in just a few minutes. It later pared its loss and sat at 1.29 percent late Wednesday.

The yield on the 10-year Treasury fell to 2.49 percent from 2.60 percent late Tuesday, and the 30-year yield fell to 3.11 percent from 3.18 percent. Both remain higher than they were a few weeks ago, though.

The dollar's value likewise sank as some traders got out of deals built on the expectation of a more aggressive Fed, said Nate Thooft, senior portfolio manager at Manulife Asset Management.

The dollar sank to 113.39 Japanese yen from 114.72 yen late Tuesday. The euro rose to $1.0713 from $1.0632, and the British pound climbed to $1.2301 from $1.2145.

"People got ahead of themselves," Thooft said. "That's a pretty big move off something that seems to be 'This is what we told you we were going to do.'"

The drop in bond yields shone a warm light on stocks in industries known for paying relatively big dividends. Lower bond yields make the income provided by dividends more attractive, and real-estate investment trusts in the S&P 500 jumped 1.9 percent. Utilities rose 1.6 percent.

The day's biggest gains came from energy stocks. Those in the S&P 500 rose by 2.1 percent after the price of oil climbed Wednesday, the first time that's happened in more than a week. A barrel of benchmark U.S. crude rose $1.14 to settle at $48.86. The 2.4 percent jump was the largest since January. Brent crude, which is used to price international oils, added 89 cents to $51.81 a barrel in London.

The weaker dollar also helped to lift prices for metals. Gold settled early in the afternoon at $1,200.70 per ounce, down $1.90. But it climbed following the Fed's announcement and was trading at $1,221 late Wednesday. Silver and copper also rose following the announcement.

Natural gas rose 4 cents to settle at $2.98 per 1,000 cubic feet, heating oil rose 2 cents to settle at $1.51 per gallon and wholesale gasoline was virtually flat at $1.58 per gallon.

The Commerce Department said early Wednesday that retail sales inched up by 0.1 percent in February, and it said sales in January were better than it previously believed. However delays in tax return payments may be holding spending back somewhat.

The Labor Department said consumer prices were 2.7 percent higher in February than a year earlier. After excluding the costs of food and energy, inflation was 2.2 percent. That's above the 2 percent target set by the Federal Reserve.

A housing market index by the National Association of Home Builders also surged to its highest level since 2005.

In overseas trading, the German DAX stock index rose 0.2 percent, the U.K. FTSE 100 index rose 0.1 percent and the CAC 40 in France was 0.2 percent higher. Japan's Nikkei 225 stock index lost 0.2 percent, and South Korea's Kospi was little changed. The Hang Seng in Hong Kong edged 0.1 percent lower.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -16 points or ▼ -0.07% on Thursday, March 16, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,934.55 ▼ -15.55 ▼ -0.07% . 
 Nasdaq____ 5,900.76 ▲ 0.71 ▲ 0.01% . 
 S&P_500___ 2,381.38 ▼ -3.88 ▼ -0.16% . 
 30_Yr_Bond____ 3.14 ▲ 0.03 ▲ 0.93% . 

NYSE Volume           3,336,597,500              
Nasdaq Volume           1,878,096,620              

 *Europe             
Symbol... .....Last ….....Change....... * 
 FTSE_100 7,415.95 ▲ 47.31 ▲ 0.64% . 
 DAX_____ 12,083.18 ▲ 73.31 ▲ 0.61% . 
 CAC_40__ 5,013.38 ▲ 27.90 ▲ 0.56% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,827.50 ▲ 13.80 ▲ 0.24% . 
 Shanghai_Comp 3,268.94 ▲ 27.18 ▲ 0.84% . 
 Taiwan_Weight 9,837.83 ▲ 97.52 ▲ 1.00% . 
 Nikkei_225___ 19,590.14 ▲ 12.76 ▲ 0.07% . 
 Hang_Seng.__ 24,288.28 ▲ 495.43 ▲ 2.08% . 
 Strait_Times.__ 3,163.52 ▲ 26.09 ▲ 0.83% . 
 NZX_50_Index_ 7,151.99 ▲ 20.69 ▲ 0.29% . 

http://finance.yahoo.com/news/us-stock-indexes-climb-amid-141911117.html

*US stock indexes hold steady as Fed-fueled rally fades*




STAN CHOE

NEW YORK (AP) — Stocks held steady on Wall Street Thursday, and bond prices gave back some of their big gains from the prior day as a rally fueled by the Federal Reserve's announcement on interest rates Wednesday faded.

The Standard & Poor's 500 index slipped 3.88 points, or 0.2 percent, to 2,381.38. The Dow Jones industrial average fell 15.55 points, or 0.1 percent, to 20,934.55. The Nasdaq composite, meanwhile, rose 0.71 points, or 0.01 percent, to 5,900.76. The Russell 2000 index of smaller stocks also rose slightly, up 3.20 points, or 0.2 percent, to 1,386.03.

Yields ticked higher as bond prices fell. The yield on the 10-year Treasury note rose to 2.53 percent from 2.50 percent late Wednesday. It had plunged 0.11 percentage points the prior day, after the Fed threw cold water on speculation that it may get more aggressive in raising rates.

The Fed is hoping to lift rates gradually off their record lows, where they stayed for seven years following the 2008 financial crisis. With both economic data and inflation picking up recently, some investors began to consider the possibility that the Fed may try to raise rates four times this year. But the Fed on Wednesday stuck with its forecast for three.

That gradual pace is one reason investors remain enthusiastic about stocks in the face of rising rates, which historically have spooked stock holders because they can slow economic growth and corporate profits. With rates starting from such a low base and the pace set to be so slow, it may not be fair to call these Fed moves as "hiking" or "tightening," said Rich Taylor, fixed-income client portfolio manager at American Century.

"We are in the beginning stages of a re-normalization of interest rates," Taylor said. "A 2.5 percent yield on a 10-year note is not a normal yield. It's still a DEFCON 4, almost emergency-level rate."

Taylor expects gains for the 10-year Treasury yield to remain modest, even with the Fed pledging more increases. Once the yield gets to 2.60 percent, he says many buyers will likely pounce given still-modest growth in the economy and inflation, which should help keep a lid on rates.

Thursday's slight rise in yields dulled the appeal of dividend-paying stocks. Utility stocks in the S&P 500 index lost 1.1 percent, the biggest loss among the 11 sectors that make up the index. Health care stocks were also weaker than the rest of the index, following a strong start to the year.

Technology stocks did better, led by Oracle, which reported stronger revenue and earnings for its latest quarter than analysts expected. The tech giant jumped $2.68, or 6.2 percent, to $45.73 for the biggest gain in the S&P 500.

GoPro, which makes wearable cameras, surged after it announced a cost-cutting plan and said it's sticking by its forecast for 2017 profits. Its stock rose $1.16, or 15.8 percent, to $8.51.

Stock markets across the Atlantic were also strong, with the French CAC 40 up 0.6 percent and Germany's DAX also up 0.6 percent. The U.K.'s FTSE 100 rose 0.6 percent and closed at a record high.

Investors had been nervous about Wednesday's Dutch election, where candidates were running on pledges to get the Netherlands out of the European Union and to close borders to migrants from Muslim nations. After the U.K. vote last summer to leave the European Union, investors were worried about whether a wave of nationalism across the continent could eventually break the European union apart.

Dutch Prime Minister Mark Rutte's party won a parliamentary election victory Wednesday over Geert Wilders, who campaigned against the European Union.

In Asia, Tokyo's Nikkei 225 index rose 0.1 percent, Hong Kong's Hang Seng added 2.1 percent, and Seoul's Kospi rose 0.8 percent.

Benchmark U.S. crude resumed its slide and slipped 11 cents to settle at $48.75 per barrel. It was the eighth drop for oil in the last nine days. Brent crude, which is used to price international oils, fell 7 cents to $51.74 a barrel.

Natural gas fell 8 cents to settle at $2.90 per 1,000 cubic feet, heating oil dropped close to a penny to $1.50 per gallon and wholesale gasoline rose 1 cent to $1.59 per gallon.

Gold rose $26.40, or 2.2 percent, to settle at $1,227.10 per ounce, silver rose 41 cents to $17.33 per ounce and copper rose 2 cents to $2.68 per pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -20 points or ▼ -0.10% on Friday, March 17, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,914.62 ▼ -19.93 ▼ -0.10% . 
 Nasdaq____ 5,901.00 ▲ 0.24 ▲ 0.00% . 
 S&P_500___ 2,378.25 ▼ -3.13 ▼ -0.13% . 
 30_Yr_Bond____ 3.11 ▼ -0.02 ▼ -0.70% . 

NYSE Volume           5,071,872,500             
Nasdaq Volume           3,270,564,500             

 *Europe             *
* Symbol... .....Last ….....Change....... * 
 FTSE_100 7,424.96 ▲ 9.01 ▲ 0.12% . 
 DAX_____ 12,095.24 ▲ 12.06 ▲ 0.10% . 
 CAC_40__ 5,029.24 ▲ 15.86 ▲ 0.32% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,840.80 ▲ 13.30 ▲ 0.23% . 
 Shanghai_Comp 3,237.45 ▼ -31.49 ▼ -0.96% . 
 Taiwan_Weight 9,908.69 ▲ 70.86 ▲ 0.72% . 
 Nikkei_225___ 19,521.59 ▼ -68.55 ▼ -0.35% . 
 Hang_Seng.__ 24,309.93 ▲ 21.65 ▲ 0.09% . 
 Strait_Times.__ 3,169.38 ▲ 5.86 ▲ 0.19% . 
 NZX_50_Index_ 7,158.14 ▲ 6.15 ▲ 0.09% . 

http://finance.yahoo.com/news/us-stocks-mixed-still-pace-140958307.html

*S&P 500 limps to the finish line in another winning week*




Stan Choe, AP Business Writer

NEW YORK (AP) -- U.S. stocks limped to the finish line in another winning week, with indexes turning in a mixed performance on Friday.

The Standard & Poor's 500 index slipped 3.13 points, or 0.1 percent, to 2,378.25 on Friday. Gains a couple days earlier fueled by the Federal Reserve meant the index rose 0.2 percent for the week. It's the seventh weekly gain for the S&P 500 in the last eight, and the index is within 1 percent of its record high.

The Dow Jones industrial average fell 19.93 points, or 0.1 percent, to 20,914.62. The Nasdaq composite rose 0.24 points, or 0.004 percent, to 5,901.00. The Russell 2000 index of small-cap stocks rose 5.49, or 0.4 percent, to 1,391.52. Three stocks rose for every two that fell on the New York Stock Exchange.

The midweek rally came after the Federal Reserve gave a more measured forecast for interest-rate increases than some investors expected. While raising rates by a quarter of a percentage point, the central bank said that it's still planning a total of three increases this year. That came as a surprise for some investors, who thought four hikes was possible given the pickup in the economy and inflation. Not only did stocks rise following the announcement, but bond yields fell sharply.

"The big focal point for the week was the Fed," said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management. "Now that we have that behind us, the rest is window dressing."

Investors are turning their attention to the market's next potential flash points, Jacobsen said, including whether Washington will be able to deliver on promises to cut taxes, boost infrastructure spending and otherwise boost the economy. They're also waiting for upcoming elections in Europe, where investors worry that wins by nationalist candidates could lead to weaker resolve for the European Union to stick together.

Treasury yields dipped, resuming their slide that began with the Fed's announcement. The 10-year Treasury yield fell to 2.50 percent from 2.54 percent late Thursday. The two-year yield dipped to 1.31 percent from 1.34 percent, and the 30-year yield sank to 3.11 percent from 3.15 percent.

Financial stocks fell in sync with bond yields. The two have tended to move in the same direction recently, because higher rates would allow banks to charge more for loans and earn bigger profits. Financial stocks fell 1.1 percent, the largest loss among the 11 sectors that make up the S&P 500.

Health care stocks were also weak. Amgen had the biggest loss in the S&P 500 after results from a study of its cholesterol drug Repatha disappointed investors. It sank $11.50, or 6.5 percent, to $168.61.

On the other end were dividend-paying stocks, which benefited from the fall in yields. When bonds are paying less in interest, it makes the income provided by dividend-paying stocks more attractive. Utility stocks in the S&P 500, which pay some of the biggest dividends in the index, rose 0.6 percent.

Adobe surged to one of the biggest gains in the index after reporting stronger revenue and earnings for its latest quarter than analysts expected. It jumped $4.66, or 3.8 percent, to $127.01

Jeweler Tiffany sparkled after it also reported better profit than analysts expected for its latest quarter. Strong demand in China and Japan helped it to offset flagging sales at home. Its stock rose $2.44, or 2.7 percent, to $92.42.

In markets abroad, France's CAC 40 stock index rose 0.3 percent, and Germany's DAX and the FTSE 100 in London both added 0.1 percent. Japan's Nikkei 225 fell 0.3 percent, South Korea's Kospi rose 0.7 percent and the Hang Seng in Hong Kong added 0.1 percent.

Finance leaders from the G-20 industrial and emerging economies are meeting Friday and Saturday in the southern German resort town of Baden-Baden. The first G-20 finance meeting since tough-talking Donald Trump was elected president is likely to focus on concerns over protectionism and currencies.

The euro edged down to $1.0743 from $1.0749 late Thursday, and the British pound rose to $1.2396 from $1.2358. The dollar slipped to 112.70 Japanese yen from 113.26 yen.

Benchmark U.S. crude rose 3 cents to settle at $48.78 per barrel. Brent crude, which is used to price international oils, rose 2 cents to $51.76 per barrel.

Natural gas rose 5 cents to $2.95 per 1,000 cubic feet. Wholesale gasoline inched up less than a cent to $1.60 per gallon, and heating oil rose a fraction of a penny to $1.51 per gallon.

Gold rose $3.10 to settle at $1,230.20 per ounce. Silver added 8 cents to $17.41 per ounce, and copper rose 1 cent to $2.69 per pound.

2935


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -8.8 points or ▼ -0.04% on Monday, March 20, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,905.86 ▼ -8.76 ▼ -0.04% . 
 Nasdaq____ 5,901.53 ▲ 0.53 ▲ 0.01% . 
 S&P_500___ 2,373.47 ▼ -4.78 ▼ -0.20% . 
 30_Yr_Bond____ 3.09 ▼ -0.02 ▼ -0.74% . 

NYSE Volume           3,050,305,000            
Nasdaq Volume           1,820,255,500            

 *Europe             *
* Symbol... .....Last ….....Change....... * 
 FTSE_100 7,429.81 ▲ 4.85 ▲ 0.07% . 
 DAX_____ 12,052.90 ▼ -42.34 ▼ -0.35% . 
 CAC_40__ 5,012.16 ▼ -17.08 ▼ -0.34% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,820.50 ▼ -20.30 ▼ -0.35% . 
 Shanghai_Comp 3,250.81 ▲ 13.36 ▲ 0.41% . 
 Taiwan_Weight 9,912.97 ▲ 4.28 ▲ 0.04% . 
 Nikkei_225___ 19,521.59 ▼ -68.55 ▼ -0.35% *.HOLIDAY* 
 Hang_Seng.__ 24,501.99 ▲ 192.06 ▲ 0.79% . 
 Strait_Times.__ 3,165.70 ▼ -3.68 ▼ -0.12% . 
 NZX_50_Index_ 7,057.05 ▼ -101.09 ▼ -1.41% . 

http://finance.yahoo.com/news/us-stocks-open-mixed-banks-143215436.html

*US stock indexes dip for a third day as banks stumble*




MARLEY JAY

NEW YORK (AP) — After an early-afternoon slump, U.S. stocks finished mostly lower Monday in a quiet day of trading. Banks fell along with bond yields as stocks declined for a third straight day.

Lower bond yields hurt banks because they force interest rates down on mortgages and other kinds of loans. Utility companies gave up some of their recent gains.

Most sectors didn't move much on the lightest trading day of the year. European markets mostly fell after the British government said it will formally begin the process of leaving the European Union next week.

Sameer Samana, a strategist for the Wells Fargo Investment Institute, said politics may keep investors occupied for the next few weeks as they wait for elections in France and a European Central Bank meeting, both next month, while legislators in the U.S. debate the proposed Republican-backed health care law.

"There's enough events that will keep markets busy," Samana said. He added that investors want to see tax reform proposals because they could boost corporate profits, but those aren't likely to come until the health care bill is dealt with.

The Standard & Poor's 500 index lost 4.78 points, or 0.2 percent, to 2,373.47. The Dow Jones industrial average slipped 8.76 points to 20,905.86. The Nasdaq composite rose 0.53 points to 5,901.53. The Russell 2000 of small-company stocks fell 7.43 points, or 0.5 percent, to 1,384.10.

The stock market has mostly been quiet this month. Its two big moves were both linked to the Federal Reserve: on March 1 stocks jumped after the central bank signaled it would raise rates, and they climbed last Wednesday after the Fed made it clear it will move slowly for the rest of the year.

Britain's government said it will trigger the process of leaving the EU on March 29. That will start a long negotiation between Britain and the EU, with uncertain effects for banks and other companies that do business across borders. Britain is expected to officially leave the union in 2019.

Bond prices rose, send yields to their lowest in three weeks. The yield on the 10-year Treasury note fell to 2.46 percent from 2.50 percent.

Wells Fargo fell $1.04, or 1.8 percent, to $57.63 and Synchrony Financial gave up 92 cents, or 2.6 percent, to $34.20.

The British pound slipped to $1.2350 from $1.2396 late Friday, and it's down about 20 percent since Britain voted to leave the EU in late June. The dollar declined to 112.58 yen from 112.70 yen. The euro fell to $1.0733 from $1.0743.

Benchmark U.S. crude declined 56 cents, or 1.1 percent, to $48.22 a barrel in New York. Brent crude, used to price international oils, lost 14 cents to $51.62 a barrel in London.

Dominion Diamond climbed $2.28, or 23 percent, to $12.20 after Washington Cos. went public with an offer to buy the diamond mining company for $13.50 per share, or about $1.1 billion. Dominion Diamond said it is willing to engage in talks but said Washington doesn't have experience in the diamond industry and questioned the timing of the offer. Washington Cos. said it first made its offer in February and that Dominion Diamond isn't willing to open its books.

Nektar Therapeutics soared after the company said an experimental pain drug met its goals in a late-stage study. Its NKTR-181 is an opioid drug designed to relieve pain without causing euphoria, which the company said can contribute to drug abuse and addiction. It studied NKTR-181 as a treatment for lower back pain. Nektar stock rose $6.71, or 43.3 percent, to $22.21.

Array BioPharma fell 29 cents, or 2.7 percent, to $10.27 after it withdrew a marketing application for its melanoma drug binimetinib. After Array talked to regulators, the company said it was clear they wouldn't approve the drug based on its most recent trial. It will continue studies of binimetinib.

In other energy trading, wholesale gasoline rose 1 cent to $1.61 a gallon. Heating oil edged up 1 cent to $1.51 a gallon. Natural gas jumped 9 cents, or 3.2 percent, to $3.04 per 1,000 cubic feet.

Gold rose $3.80 to $1,234 an ounce. Silver picked up 3 cents to $17.44 an ounce. Copper lost 2 cents to $2.67 a pound.

Finance ministers and central bankers from the Group of 20 major economies dropped a pledge to eschew protectionism in a statement Saturday. The move came after pressure from the U.S. During his campaign President Donald Trump promised to rewrite trade deals, and he ditched the Trans-Pacific Partnership, a proposed pact between 12 countries that border the Pacific Ocean which represented around 40 percent of global economic output.

Britain's FTSE 100 edged up 0.1 percent. France's CAC-40 fell 0.3 percent and the DAX in Germany declined 0.4 percent. Hong Kong's Hang Seng index gained 0.8 percent and the Kospi in South Korea shed 0.4 percent. Japanese markets were closed for a holiday.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -238 points or ▼ -1.14% on Tuesday, March 21, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,668.01 ▼ -237.85 ▼ -1.14% . 
 Nasdaq____ 5,793.83 ▼ -107.70 ▼ -1.83% . 
 S&P_500___ 2,344.02 ▼ -29.45 ▼ -1.24% . 
 30_Yr_Bond____ 3.05 ▼ -0.04 ▼ -1.29% . 

NYSE Volume           4,264,743,500             
Nasdaq Volume       111,689,744,000             

 *Europe             *
* Symbol... .....Last ….....Change....... * 
 FTSE_100 7,378.34 ▼ -51.47 ▼ -0.69% . 
 DAX_____ 11,962.13 ▼ -90.77 ▼ -0.75% . 
 CAC_40__ 5,002.43 ▼ -9.73 ▼ -0.19% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,819.50 ▼ -1.00 ▼ -0.02% . 
 Shanghai_Comp 3,261.61 ▲ 10.80 ▲ 0.33% . 
 Taiwan_Weight 9,972.49 ▲ 59.52 ▲ 0.60% . 
 Nikkei_225___ 19,455.88 ▼ -65.71 ▼ -0.34% . 
 Hang_Seng.__ 24,593.12 ▲ 91.13 ▲ 0.37% . 
 Strait_Times.__ 3,158.57 ▼ -7.13 ▼ -0.23% . 
 NZX_50_Index_ 7,085.54 ▲ 28.49 ▲ 0.40% . 

http://finance.yahoo.com/news/slight-losses-us-stocks-early-142349463.html

*Banks nosedive as Trump health care speedbump tanks stocks*





MARLEY JAY

NEW YORK (AP) — U.S. stocks took their biggest loss in five months Tuesday as a health care bill backed by President Donald Trump ran into trouble in Congress, which raised some questions about his agenda of faster economic growth spurred on by lower taxes and cuts in regulations.

Banks plunged as bond yields continued to fall, which will mean lower interest rates on loans. Transportation companies including airlines, railroads and rental car companies dropped, and so did materials companies like steel and chemicals makers. The dollar weakened. Small-company stocks, which stand to benefit the most from Trump's policy proposals of lower taxes and looser regulations, fell more than the rest of the market.

"President Trump promised that this health care bill would be signed, sealed, delivered within the first couple of weeks of him taking office," said Jack Ablin, chief investment officer for BMO Capital Markets. "All this is doing is pushing the rest of the agenda out."

The Standard & Poor's 500 index tumbled 29.45 points, or 1.1 percent, to 2,344.02. That was its biggest drop since Oct. 11. The Dow Jones industrial average fell 237.85 points, or 1.1 percent, to 20,668.01.

The Nasdaq composite surrendered 107.70 points, or 1.8 percent, to 5,793.83. The Russell 2000 index of small-company stocks plunged 37.55 points, or 2.7 percent, to 1,346.55. Four-fifths of the stocks on the New York Stock Exchange fell.

Stocks have fallen for four days in a row, though the previous losses were small. Tuesday's losses were a reversal of the patterns that have endured since Trump was elected in November, but overall stocks are still sharply higher since then.

On Thursday the House of Representatives is scheduled to vote on the Republican-backed American Health Care Act, and despite support from the president on Tuesday, it's not clear if the House or the Senate will approve the bill. The administration hopes to get a major tax reform package to Congress by August, and a big infrastructure spending proposal may follow next year.

Banks had their worst day in nine months as bond prices rose. The yield on the 10-year Treasury note declined to 2.42 percent from 2.46 percent. Bank of America fell $1.42, or 5.8 percent, to $23.02. KeyCorp sank $1.18, or 6.5 percent, to $16.90, the biggest loss in the S&P 500. JPMorgan Chase gave up $2.64, or 2.9 percent, to $87.39. Still, banks have done far better than the rest of the market since the election.

Among transportation companies, United Continental lost $2.21, or 3.3 percent, to $65.28 and railroad operator CSX declined $1.26, or 2.7 percent, to $45.62. Hertz Global skidded $1.86, or 8.7 percent, to $19.40. Companies that make steel, chemicals, and other basic materials also slid. AK Steel plunged 86 cents, or 10.4 percent, to $7.51 and U.S. Steel lost $3.34, or 9 percent, to $33.76.

The price of copper also dropped. The metal's price tends to rise when investors are more optimistic about the economy, and copper has risen 14 percent over the last year. It sank 5 cents, or 1.8 percent, to $2.62 a pound on Tuesday.

Big-dividend companies, especially utilities, did well. Investors often buy those stocks when bond yields are falling. Dominion Resources rose $1.38, or 1.8 percent, to $78.21 and PPL gained 67 cents, or 1.8 percent, to $37.47. Some household goods makers also rose. Jack Daniel's whisky maker Brown-Forman climbed 47 cents, or 1 percent, to $47.28.

Kate Warne, an investment strategist for Edward Jones, said investors are taking some profits after the market's long post-election winning streak, but noted that Wall Street is especially eager for the administration's tax reform proposals.

"I think investors see (corporate tax reform) as more important in terms of supporting the stock market even if it's not as important in terms of its effect on the economy" as health care, she said.

Food companies fell after General Mills posted a better-than-expected profit but weaker sales. The Cheerios maker faces more competitive pricing and a market that has been shifting demand from processed foods. Its stock dipped 50 cents to $59.76, and Kellogg shed $1.38, or 1.8 percent, to $73.60. Campbell Soup gave up $1.91 or 3.2 percent, to $57.09.

Benchmark U.S. crude lost 88 cents, or 1.8 percent, to $47.34 a barrel in New York. Brent crude, used to price international oils, closed down 66 cents, or 1.3 percent, to $50.96 a barrel in London.

The price of gold jumped $12.50, or 1 percent, to $1,246.50 an ounce. Silver gained 15 cents to $17.58 an ounce.

In other energy trading, wholesale gasoline lost 1 cent to $1.61 a gallon. Heating oil dipped 1 cent to $1.50 a gallon. Natural gas rose 5 cents, or 1.7 percent, to $3.09 per 1,000 cubic feet.

The dollar slipped to 111.90 yen from 112.58 yen. The euro rose to $1.0804 from $1.0733.

The DAX of Germany fell 1.1 percent and the British FTSE 100 lost 0.6 percent. France's CAC 40 made big early gains after a debate between the nation's candidates for president, but it finished 0.5 percent lower. Japan's benchmark Nikkei 225 slipped 0.3 percent. The Kospi in South Korea rose 1 percent and in Hong Kong the Hang Seng rose 0.4 percent


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -6.7 points or ▼ -0.03% on Wednesday, March 22, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,661.30 ▼ -6.71 ▼ -0.03% . 
 Nasdaq____ 5,821.64 ▲ 27.82 ▲ 0.48% . 
 S&P_500___ 2,348.45 ▲ 4.43 ▲ 0.19% . 
 30_Yr_Bond____ 3.01 ▼ -0.04 ▼ -1.28% . 

NYSE Volume           3,541,977,500             
Nasdaq Volume           1,962,365,750             

 *Europe             *
* Symbol... .....Last ….....Change....... * 
 FTSE_100 7,324.72 ▼ -53.62 ▼ -0.73% . 
 DAX_____ 11,904.12 ▼ -58.01 ▼ -0.48% . 
 CAC_40__ 4,994.70 ▼ -7.73 ▼ -0.15% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,732.00 ▼ -87.50 ▼ -1.50% . 
 Shanghai_Comp 3,245.22 ▼ -16.39 ▼ -0.50% . 
 Taiwan_Weight 9,922.66 ▼ -49.83 ▼ -0.50% . 
 Nikkei_225___ 19,041.38 ▼ -414.50 ▼ -2.13% . 
 Hang_Seng.__ 24,320.41 ▼ -272.71 ▼ -1.11% . 
 Strait_Times.__ 3,118.19 ▼ -40.38 ▼ -1.28% . 
 NZX_50_Index_ 7,060.83 ▼ -24.71 ▼ -0.35% . 

http://finance.yahoo.com/news/us-stocks-slip-further-steep-141951705.html

*Indexes inch back upward as tech stocks rise; Nike plunges*




MARLEY JAY

NEW YORK (AP) — After a shaky start, U.S. stocks finished mostly higher Wednesday as technology and industrial companies rose. Banks fell with interest rates as the market came off its biggest loss in five months.

Stocks started lower, then rallied around midday and wandered between gains and losses for several hours before a late-afternoon push.

Technology companies led the market, as they've done throughout this year. Gains for shipping company FedEx helped take industrial companies upward. Nike took its biggest one-day loss in five years as investors were disappointed by its quarterly sales and outlook, and 130-year-old retailer Sears plunged after it said it may not be able to stay in business.

A day ago stocks dropped as Wall Street wondered if key aspects of President Donald Trump's agenda, such as tax cuts and increased infrastructure spending will be delayed. The Republican-backed American Health Care Act appeared to be in trouble ahead of a House of Representatives vote on Thursday.

Terry Simpson, a multi-asset strategist for BlackRock, says it's noteworthy that even though the bill's fate is unclear, stocks didn't fall any further on Wednesday.

"The market really wants to believe in the new administration," he said. But if the bill falters in the House on Thursday or the Senate later on, investors will have "increased doubt in the ability to pass the pro-growth agenda."

The Standard & Poor's 500 index picked up 4.43 points, or 0.2 percent, to 2,348.45. Nike dragged down the Dow Jones industrial average, which fell 6.71 points to 20,661.30. The Nasdaq composite rose 27.82 points, or 0.5 percent, to 5,821.64. The Russell 2000 index of smaller companies sank 0.95 points, or 0.1 percent, to 1,345.60.

Apple gained $1.58, or 1.1 percent, to $141.42 and Microsoft rose 82 cents, or 1.3 percent, to $65.03 while chipmaker Nvidia added $2.16, or 2 percent, to $108.07. The S&P 500's technology index is up 11 percent in 2017, more than double the gain for the broader S&P 500.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.40 percent from 2.42 percent. Lower bond yields mean lower interest rates, and those reduce the profits banks can make from lending.

Investors snapped up high-dividend utilities and real estate investment trusts as bond yields fell. Exelon picked up 34 cents to $36.30 and Consolidated Edison gained 77 cents, or 1 percent, to $78.11. Utilities are the best-performing part of the S&P 500 over the last month.

Sears said in a regulatory filing that there is "substantial doubt" it will be able to remain in business. In recent years the parent company of Sears and Kmart has closed more than 2,000 stores and slashed spending and jobs, and it has sold brands and split off its real estate assets to raise cash. The company continues to lose billions a year as its sales fall further. It said pension agreements may prevent it from spinning off other businesses.

The stock has already been trading near all-time lows and lost $1.12, or 12.3 percent, to $7.98 Wednesday. The company's real estate investment trust, Seritage, lost 92 cents, or 2.1 percent, to $42.63.

Nike reported slightly disappointing third-quarter sales, and its forecasts for the current period displeased investors as well. Nike's stock fell $4.09, or 7.1 percent, to $53.92, its biggest loss since June 2012. Nike is up this year but hasn't recovered from a 19 percent tumble in 2016. Investors have worried about Nike's intense competition with rivals Under Armour and Adidas.

While shipping company FedEx didn't have a great holiday season, its revenue was a bit better than expected and analysts said they think its business is going to improve. Its stock rose $4.08, or 2.1 percent, to $195.92. Railroad and airplane companies also climbed.

Oil prices continued to fall after the U.S. government said fuel stockpiles grew more than expected last week. U.S. crude lost 20 cents to $48.04 a barrel in New York. Brent crude, used to price international oils, fell 32 cents to $50.64 a barrel in London.

In other energy trading, wholesale gasoline remained at $1.60 a gallon. Heating oil lost 1 cent to $1.50 a gallon. Natural gas sank 8 cents, or 2.7 percent, to $3.01 per 1,000 cubic feet.

The price of gold rose for the fifth day in a row. It edged up $3.20 to $1,249.70 an ounce. Silver fell less than 1 cent to $17.58 an ounce. Copper rose 1 cent to $1.63 a pound.

The dollar slipped to 110.92 yen from 111.90 yen. The euro dipped to $1.0798 from $1.0804.

Stocks overseas finished lower. The British FTSE 100 index fell 0.7 percent. The German DAX fell 0.5 percent and the CAC 40 in France dropped 0.2 percent. In Japan the Nikkei 225 stock index fell 2.1 percent as the yen strengthened compared to the dollar, which hurts Japanese exporters. The Hang Seng of Hong Kong dropped 1.1 percent and the South Korea's Kospi lost 0.5 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -4.7 points or ▼ -0.02% on Thursday, March 23, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,656.58 ▼ -4.72 ▼ -0.02% . 
 Nasdaq____ 5,817.69 ▼ -3.95 ▼ -0.07% . 
 S&P_500___ 2,345.96 ▼ -2.49 ▼ -0.11% . 
 30_Yr_Bond____ 3.03 ▲ 0.02 ▲ 0.50% . 

NYSE Volume           3,257,096,250             
Nasdaq Volume           1,756,739,380             

 *Europe             *
* Symbol... .....Last ….....Change....... * 
 FTSE_100 7,340.71 ▲ 15.99 ▲ 0.22% . 
 DAX_____ 12,039.68 ▲ 135.56 ▲ 1.14% . 
 CAC_40__ 5,032.76 ▲ 38.06 ▲ 0.76% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,754.00 ▲ 22.00 ▲ 0.38% . 
 Shanghai_Comp 3,248.55 ▲ 3.33 ▲ 0.10% . 
 Taiwan_Weight 9,930.74 ▲ 8.08 ▲ 0.08% . 
 Nikkei_225___ 19,085.31 ▲ 43.93 ▲ 0.23% . 
 Hang_Seng.__ 24,327.70 ▲ 7.29 ▲ 0.03% . 
 Strait_Times.__ 3,126.93 ▲ 8.74 ▲ 0.28% . 
 NZX_50_Index_ 7,062.55 ▲ 1.72 ▲ 0.02% . 

http://finance.yahoo.com/news/banks-lead-stocks-higher-health-151203093.html

*Stock rally sputters after vote on health bill is delayed*




MARLEY JAY
Associated Press

NEW YORK (AP) — After a promising start, U.S. stock indexes gave up an early rally and ended mostly lower Thursday after Republicans delayed a vote on their health care bill and left investors concerned about delays for the business-friendly agenda of President Donald Trump.

The Dow Jones industrial average rose as much as 96 points just before 1 p.m., but doubts about the bill cast a shadow over the market as hardline conservatives said they didn't support it. Health care stocks turned lower.

Elsewhere, a growing boycott of YouTube advertising hurt Alphabet, Google's parent company. Smaller companies did better than the rest of the market and more stocks rose than fell, a sign investors are still confident in the U.S. economy.

Near the close of trading, House Republican leadership postponed a vote on the American Health Care Act because of a lack of support. Conservatives and more moderate Republicans had opposing concerns about the bill, which is widely disliked by House Democrats.

Jamie Cox, managing partner for Harris Financial Group, said investors are worried about how the Republican-controlled Congress and White House will come together on issues including tax reform, a debt ceiling increase, and a boost in infrastructure spending.

"If the Republicans are having such a difficult time making changes to something they universally agree upon, how on earth are they going to agree on the more complicated tax cut that is coming through later in the year?" Cox asked. Still, the losses were small, suggesting investors think some of those proposals will be delayed rather than abandoned.

The Standard & Poor's 500 index fell 2.49 points, or 0.1 percent, to 2,345.96. The Dow lost 4.72 points to 20,656.58. The Nasdaq composite slid 3.95 points, or 0.1 percent, to 5,817.69. The Russell 2000 index, which tracks smaller companies, gained 7.83 points, or 0.6 percent, to 1,353.43.

Bond prices edged lower. The yield on the 10-year Treasury note, which has skidded over the last few days, rose to 2.42 percent from 2.40 percent. That modest increase gave banks and other financial companies a lift.

The S&P 500 banking index had plunged 5 percent over the previous four days as bond yields and interest rates decreased. Banks turned higher on Thursday. SunTrust Banks added 67 cents, or 1.2 percent, to $54.85 and Huntington Bancshares rose 24 cents, or 1.9 percent, to $13.02.

Alphabet fell as a YouTube advertising boycott spread. Companies including Johnson & Johnson, AT&T and Verizon have suspended their YouTube ad campaigns in the last week because their ads were appearing alongside offensive videos, including some that promoted terrorism. The ads are placed automatically and Google has said it will do more to block offensive videos. YouTube is one of the fastest-growing parts of Google's ad system.

Alphabet lost $10.15, or 1.2 percent, to $839.65. Technology companies lagged the rest of the market. Alphabet is the second-most valuable company on the S&P 500 after Apple.

Companies that run Medicaid programs, like Centene and Molina Healthcare, stumbled in afternoon trading and health insurance companies like UnitedHealth and Humana took small losses. Drug companies also fell. Hospital operators traded higher, as did medical device makers.

Cox, of Harris Financial, said stocks probably won't fall much further if the bill ultimately fails because investors will focus on other items on Trump's agenda.

"The market doesn't care a bit about the health care legislation," he said.

PVH, which owns Calvin Klein and Tommy Hilfiger, jumped after its fourth-quarter profit and sales topped analyst estimates. It said sales for the Hilfiger brand grew in the latest quarter and its business is doing well in spite of high discounts in the U.S. The stock gained $7.70, or 8.5 percent, to $98.55.

Discount retailer Five Below also climbed after it surpassed Wall Street projections in its fourth quarter. The stock rose $4.12, or 10.8 percent, to $42.25. Retailers have struggled in recent months, but consumer-focused companies did better than the broader market on Thursday. Nike, which plunged 7 percent a day earlier, recovered $1.45, or 2.7 percent, to $55.37.

U.S. crude oil lost 34 cents to $47.70 a barrel in New York. Brent crude, used to price international oils, slipped 8 cents to $50.56 a barrel in London. That pulled energy companies lower.

In other energy trading, wholesale gasoline fell 1 cent to $1.59 a gallon. Heating oil lost 1 cent to$1.49 a gallon. Natural gas rose 4 cents to $3.05 per 1,000 cubic feet.

Gold fell $2.50 to $1,247.20 an ounce, which ended a small five-day streak of gains. Silver rose 2 cents to $17.59 an ounce. Copper picked up 1 cent to $2.64 a pound.

The dollar inched up to 111.07 yen from 110.92 yen. The euro slid to $1.0786 from $1.0798.

Germany's DAX jumped 1.1 percent and the CAC 40 in France rose 0.8 percent. Britain's FTSE 100 index added 0.2 percent. In Japan the Nikkei 225 gained 0.2 percent. Hong Kong's Hang Seng was flat and the South Korean Kospi gained 0.2 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -60 points or ▼ -0.29% on Friday, March 24, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,596.72 ▼ -59.86 ▼ -0.29% . 
 Nasdaq____ 5,828.74 ▲ 11.04 ▲ 0.19% . 
 S&P_500___ 2,343.98 ▼ -1.98 ▼ -0.08% . 
 30_Yr_Bond____ 3.00 ▼ -0.02 ▼ -0.79% . 

NYSE Volume           2,966,041,750            
Nasdaq Volume           1,887,482,750            

 *Europe             *
* Symbol... .....Last ….....Change....... * 
 FTSE_100 7,336.82 ▼ -3.89 ▼ -0.05% . 
 DAX_____ 12,064.27 ▲ 24.59 ▲ 0.20% . 
 CAC_40__ 5,020.90 ▼ -11.86 ▼ -0.24% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,796.10 ▲ 42.10 ▲ 0.73% . 
 Shanghai_Comp 3,269.45 ▲ 20.90 ▲ 0.64% . 
 Taiwan_Weight 9,902.98 ▼ -27.76 ▼ -0.28% . 
 Nikkei_225___ 19,262.53 ▲ 177.22 ▲ 0.93% . 
 Hang_Seng.__ 24,358.27 ▲ 30.57 ▲ 0.13% . 
 Strait_Times.__ 3,142.90 ▲ 15.97 ▲ 0.51% . 
 NZX_50_Index_ 7,073.83 ▲ 11.28 ▲ 0.16% . 

http://finance.yahoo.com/news/us-st...uncertain-health-care-142230365--finance.html

*Stocks wobble, finish mixed as GOP pulls plug on health bill*




MARLEY JAY

NEW YORK (AP) — U.S. stocks flirted with sharp losses but managed a mixed finish after Republicans canceled a vote on their health care bill because it became clear the bill would fail. Investors didn't trade much as they waited for answers about the state of President Donald Trump's business-friendly agenda.

For the second day in a row, stocks started higher and wilted as it became clear the health care bill was in trouble. The Dow Jones industrial average plunged as much as 126 points in afternoon trading on reports of the bill's impending failure, although Wall Street cut its losses after the vote was canceled. Consumer-focused companies like Nike, Starbucks and clothing company PVH rose.

The health care act became something of a proxy for the rest of the Trump agenda and it dominated the market for most of this week. It was the week run for stocks since the week before the presidential election. Banks and small-company stocks, which made huge gains after Trump was elected, both suffered their biggest losses in more than a year.

President Trump and other Republican leaders said they were moving on from health care, and Michael Scanlon, a portfolio manager for Manulife Asset Management, said investors will be glad if that happens.

"You're going to see a very quick pivot to corporate tax reform," he said. A corporate tax cut could give stocks a large boost by increasing profits, and it might also raise tax revenue. After the close of trading, House Speaker Paul Ryan said Republicans will proceed with tax reform proposals, but acknowledged the health care debacle will make that task more difficult.

The Standard & Poor's 500 index finished down 1.98 points, or 0.1 percent, at 2,343.98. The Dow lost 59.86 points, or 0.3 percent, to 20,596.72 as Goldman Sachs and Boeing sank. Technology companies inched higher and the Nasdaq composite rose 11.04 points, or 0.2 percent, to 5,828.74. The Russell 2000 index of smaller-company stocks added 1.22 points, or 0.1 percent, to 1,354.64.

Trading was relatively quiet, which may have contributed to the big fluctuations.

Hospitals and insurers that do a lot of business with Medicaid celebrated the demise of the bill. HCA Holdings, the largest U.S. hospital company, climbed $2.87, or 3.5 percent, to $86.04 and Community Health Systems jumped 84 cents, or 9.7 percent, to $9.54. Among Medicaid-focused companies, Centene and Molina Healthcare each gained about 5 percent.

The American Health Care Act would likely have left more Americans uninsured and would make big changes to Medicaid, a joint federal-state health program for low-income Americans. Those stocks fell when it was introduced those stocks fell because investors were concerned hospitals would have to take in more patients who lack insurance and that insurers would get less money from Medicaid.

With the 2010 Affordable Care Act alive for another day, insurance companies slumped. Cigna fell $3.36, or 2.3 percent, to $142.82 and Anthem shed $2.63, or 1.6 percent, to $126.77.

With Trump and majority Republicans unable to pass the first big item on their agenda, there were some signs of concern that his proposals of tax cuts, infrastructure spending, and regulatory cuts will take longer. Those are aspects of Trump's proposed agenda Wall Street is excited about.

Vulcan Materials, a construction materials maker, sank $2.65, or 2.3 percent, to $112.74. Steel maker Nucor declined $1.50, or 2.4 percent, to $59.76. Construction and machinery companies also stumbled. Engine maker Cummins shed $1.45, or 1 percent, to $150.77 and Boeing sank $1.44 to $175.82.

Scanlon, of Manulife, said investors want Trump and Congress to come up with a real proposal that changes corporate taxes.

"Something needs to be done with a permanent solution, not just one of these holiday things," he said, because "the goal is to be a stimulus for domestic investment."

Bond prices rose slightly. The yield on the 10-year Treasury note fell to 2.41 percent from 2.42 percent.

U.S. crude oil futures rose 27 cents to $47.97 a barrel in New York. Brent crude, used to price international oils, added 24 cents to $50.80 a barrel in London.

In other energy trading, wholesale gasoline gained 2 cents to $1.60 a gallon. Heating oil rose 1 cent to $1.50 a gallon. Natural gas added 3 cents to $3.08 per 1,000 cubic feet.

The dollar inched down to 110.80 yen from 111.07 yen. The euro edged up to $1.0808 from $1.0786.

Gold rose $1.30 to $1,248.50 an ounce. Silver jumped 16 cents to $17.75 an ounce. Copper lost 1 cent to $2.63 a pound.

In Germany, the DAX added 0.2 percent and the French CAC 40 dropped 0.2 percent and Britain's FTSE 100 index dipped 0.1 percent. Japan's benchmark Nikkei 225 index rose 0.9 percent following recent losses. The Kospi of South Korea shed 0.2 percent while Hong Kong's Hang Seng reversed earlier losses to finish 0.1 percent higher.

3329


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -46 points or ▼ -0.22% on Monday, March 27, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,550.98 ▼ -45.74 ▼ -0.22% . 
 Nasdaq____ 5,840.37 ▲ 11.64 ▲ 0.20% . 
 S&P_500___ 2,341.59 ▼ -2.39 ▼ -0.10% . 
 30_Yr_Bond____ 2.98 ▼ -0.02 ▼ -0.77% . 

NYSE Volume           3,226,657,750              
Nasdaq Volume           1,701,970,380              

 *Europe             
Symbol... .....Last ….....Change....... * 
 FTSE_100 7,293.50 ▼ -43.32 ▼ -0.59% . 
 DAX_____ 11,996.07 ▼ -68.20 ▼ -0.57% . 
 CAC_40__ 5,017.43 ▼ -3.47 ▼ -0.07% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,789.20 ▼ -6.90 ▼ -0.12% . 
 Shanghai_Comp 3,266.96 ▼ -2.49 ▼ -0.08% . 
 Taiwan_Weight 9,876.77 ▼ -26.21 ▼ -0.26% . 
 Nikkei_225___ 18,985.59 ▼ -276.94 ▼ -1.44% . 
 Hang_Seng.__ 24,193.70 ▼ -164.57 ▼ -0.68% . 
 Strait_Times.__ 3,126.88 ▼ -16.02 ▼ -0.51% . 
 NZX_50_Index_ 7,062.71 ▼ -11.12 ▼ -0.16% . 

http://hosted2.ap.org/APDEFAULT/3d2...l Markets/id-8fac697626f74427a0cc720011edb3f4

*Stocks sink early on Washington worries before paring losses*
By STAN CHOE, AP Business Writer 



NEW YORK (AP) — Worries that Washington may not be able to help businesses as much as once thought knocked stock indexes down hard early Monday, but they clawed back most of their losses and ended the day mixed.

The Standard & Poor's 500 index fell 2.39 points, or 0.1 percent, to 2,341.59 for its seventh drop in the last eight days. The Dow Jones industrial average sank 45.74, or 0.2 percent, to 20,550.98, while the Nasdaq composite index rose 11.64, or 0.2 percent, to 5,840.37.

When trading opened for the day, it looked as if losses would be much worse. The S&P 500 sank from the start and was down as much as 0.9 percent.

The weakness followed last week's failure by Republicans to repeal the Affordable Care Act, something they've been pledging to do for years, which raised doubts that Washington can push through promises to help businesses. Investors have been anticipating that President Donald Trump and the Republican-led Congress will cut taxes, loosen regulations for companies and institute other corporate-friendly policies.

Indexes recovered most of their losses in the afternoon, largely thanks to gains in hospital and other health care stocks. Tax cuts, deregulation and other business-friendly moves could still happen, but even if they don't, the stock market has several pillars of support, said John Manley, chief equity strategist at Wells Fargo Funds Management.

"Trump lucked out when he got elected president, because it was just as earnings were coming out of a two-year slumber," he said. "I think it's been as much, if not more, about earnings as it's been him" behind the 9.4 percent rise for the S&P 500 since Election Day.

An improving economy is translating into bigger profits for businesses, which are set to report their first-quarter results in the coming weeks. The Federal Reserve, meanwhile, is moving very slowly in raising interest rates and is loath to apply the brakes to the economy too quickly.

"Investors have to acknowledge that a 5 percent correction can happen at any time, and the fact that we haven't had a 1 percent down day for so long is extraordinary," Manley said. "But the things that are usually responsible for a major market decline just don't seem to be in place."

The S&P 500 has lost 1 percent in a day just once since mid-October.

Interest rates fell Monday. The yield on the 10-year Treasury dropped to 2.37 percent from 2.41 percent late Friday. Just a couple weeks ago, it was above 2.60 percent.

Bank stocks have tracked the movements of Treasury yields recently, because higher interest rates would allow them to charge more for loans and reap bigger profits. Investors also expected financial companies to be some of the biggest beneficiaries of easier regulations with a Republican-led White House.

Financial stocks in the S&P 500 dropped 0.5 percent, one of the larger losses among the 11 sectors that make up the index. Morgan Stanley fell 88 cents, or 2.1 percent, to $41.58, and Capital One Financial lost $1.67, or 2 percent, to $82.13.

Hospital stocks were among the strongest performers. The Republican health care plan would have resulted in 24 million additional uninsured people in a decade, according to a tally by the Congressional Budget Office. And hospitals take care of patients, whether they're insured or not.

HCA Holdings jumped $4.45, or 5.2 percent, to $90.49 for the biggest gain in the S&P 500. Universal Health Services rose $4.08, or 3.3 percent, to $125.97.

Also demonstrating the swing from nervousness in the morning to a more measured mood in the afternoon was the VIX index, which tracks how much traders are paying to protect against upcoming drops in the S&P 500.

Early Monday, the VIX jumped nearly 17 percent and was close to its highest level since mid-November. It calmed through the day and was down by the afternoon.

The price of gold rose $7.20 to settle at $1,255.70 an ounce. Silver rose 36 cents to $18.11 per ounce. Copper was close to flat at $2.63 per pound.

Benchmark U.S. crude fell 24 cents to settle at $47.73 per barrel. Brent crude, used to price international oils, fell 5 cents to $50.57 a barrel.

Natural gas fell 2 cents to $3.05 per 1,000 cubic feet, wholesale gasoline rose a penny to $1.62 per gallon and heating oil was close to flat at $1.50 per gallon.

The dollar fell to 110.57 Japanese yen from 110.80 late Friday. The euro rose to $1.0868 from $1.0808, and the British pound rose to $1.2566 from $1.2500.

Stocks were weak around the world. In Asia, Japan's Nikkei 225 index dropped 1.4 percent, South Korea's Kospi index lost 0.6 percent and the Hang Seng in Hong Kong fell 0.7 percent. In Europe, the German DAX lost 0.6 percent, the French CAC 40 fell 0.1 percent and the FTSE 100 in London dropped 0.6 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 151 points or ▲ 0.73% on Tuesday, March 28, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,701.50 ▲ 150.52 ▲ 0.73% . 
 Nasdaq____ 5,875.14 ▲ 34.77 ▲ 0.60% . 
 S&P_500___ 2,358.57 ▲ 16.98 ▲ 0.73% . 
 30_Yr_Bond____ 3.01 ▲ 0.03 ▲ 1.14% . 

NYSE Volume           3,367,257,750              
Nasdaq Volume           1,819,642,880              

 *Europe             
Symbol... .....Last ….....Change....... * 
 FTSE_100 7,343.42 ▲ 49.92 ▲ 0.68% . 
 DAX_____ 12,149.42 ▲ 153.35 ▲ 1.28% . 
 CAC_40__ 5,046.20 ▲ 28.77 ▲ 0.57% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,860.40 ▲ 71.20 ▲ 1.23% . 
 Shanghai_Comp 3,252.95 ▼ -14.01 ▼ -0.43% . 
 Taiwan_Weight 9,876.45 ▼ -0.32 ▲ 0.00% . 
 Nikkei_225___ 19,202.87 ▲ 217.28 ▲ 1.14% . 
 Hang_Seng.__ 24,345.87 ▲ 152.17 ▲ 0.63% . 
 Strait_Times.__ 3,157.82 ▲ 30.94 ▲ 0.99% . 
 NZX_50_Index_ 7,065.23 ▲ 2.52 ▲ 0.04% . 

http://finance.yahoo.com/news/us-stock-indexes-edge-higher-142014425.html

*US stock indexes close higher as consumer confidence gains*




ALEX VEIGA

Banks and other financial companies led U.S. stock indexes sharply higher Tuesday, snapping an eight-day losing streak for the Dow Jones industrial average.

The rally was broad, with materials and industrial companies among the biggest gainers. Energy stocks notched a big gain as crude oil prices moved higher.

The market got a boost from new data showing that consumer confidence in the U.S. hit its highest level since 2000.

Investor optimism that Congress and the White House are pivoting to tax cuts and other business-friendly policy proposals after spending recent weeks focused on health care also helped send the market higher, said JJ Kinahan, chief market strategist at TD Ameritrade.

"The consumer confidence number was really good, but more importantly, it seems like both sides of the aisle do want to get something done around tax reform," Kinahan said. "That's all the market is really hanging its hat on."

The Dow rose 150.52 points, or 0.7 percent, to 20,701.50. The 30-company average's decline in the previous eight consecutive days was its longest slide in more than five years. The Standard & Poor's 500 index added 16.98 points, or 0.7 percent, to 2,358.57. The Nasdaq composite index gained 34.77 points, or 0.6 percent, to 5,875.14.

Bond prices edged lower. The 10-year Treasury yield rose to 2.42 percent from 2.38 percent.

Since Donald Trump's presidential election win last November, investors have been optimistic that the administration would deliver on promises to slash taxes, loosen regulations for companies and institute other business-friendly policies. Republicans' failure to repeal the Affordable Care Act last week dashed some of that optimism, pulling down stocks. But this week, Republicans appear to be shifting their focus back on tax cuts, among other issues.

"The market is sort of in a holding pattern waiting for additional clarity from the administration on corporate tax reform," said Nadia Lovell, U.S. equity strategist at J.P. Morgan Private Bank. "We do view the pivot away from health care reform on Friday as an overall net positive."

Trading got off to a downbeat start Tuesday as investors weighed the latest batch of company earnings news. But the market livened up around midmorning when the Conference Board said its consumer confidence index rose this month to its highest level in more than 16 years. The index measures both consumers' assessment of current conditions and their expectations for the future. Both improved this month.

Traders also got some encouragement from the latest Standard & Poor's CoreLogic Case-Shiller home price index, which showed that U.S. home prices rose at the fastest pace in more than two years in January.

Mortgage rates are rising, but that's not expected to affect home sales yet because hiring is still strong, rates are low and there aren't a lot of homes on the market. That's a positive combination for homebuilders, many of which have seen their stocks move sharply higher this year. Beazer Homes USA notched the biggest gain among builders Tuesday, adding 38 cents, or 3.3 percent, to $12.06. The stock remains down 9.3 percent this year.

Several companies reported improved quarterly results or outlooks, which also helped put traders in a buying mood.

Darden Restaurants jumped 9.3 percent after the owner of Olive Garden reported strong quarterly results and said it will buy the Cheddar's Scratch Kitchen chain for $780 million. Cheddar has 165 locations in 28 states. Darden was the biggest gainer in the S&P 500, rising $7.04 to $82.62.

Red Hat climbed 5.2 percent after the open-source software company reported strong sales and solid guidance for the current quarter. The stock added $4.28 to $86.48.

Carnival rose 0.7 percent after the cruise line operator served up solid first-quarter results and a better-than-expected estimate for the second quarter. The stock, which closed at an all-time high on Monday, gained another 39 cents to $59.26.

General Motors rose 2.4 percent after its board voted to reject a proposal from investor David Einhorn to split the automaker's stock into two classes. GM shares picked up 85 cents to $35.56.

Several major stock indexes overseas closed higher.

In Europe, Germany's DAX gained 1.3 percent, while France's CAC 40 rose 0.6 percent. The FTSE 100 index of leading British shares added 0.7 percent. Investors, particularly in U.K.-related assets, will have more to chew on Wednesday when the British government finally triggers the two-year process by which it leaves the European Union.

In Asia, Tokyo's Nikkei 225 gained 1.1 percent. Hong Kong's Hang Seng added 0.5 percent. Seoul's Kospi rose 0.3 percent.

The euro weakened to $1.0808 from $1.0868, while the dollar strengthened to 111.09 yen from 110.57 yen.

Benchmark U.S. crude rose 64 cents, or 1.3 percent, to close at $48.37 per barrel in New York. Brent crude, used to price international oils, climbed 58 cents, or 1.1 percent, to close at $51.33 a barrel in London.

Natural gas added 4 cents to $3.10 per 1,000 cubic feet, wholesale gasoline rose 2 cents to $1.64 per gallon and heating oil gained a penny to $1.52 per gallon.

In metals trading, the price of gold slipped 10 cents to settle at $1,255.60 an ounce. Silver rose 14 cents to $18.25 per ounce. Copper added 4 cents to $2.68 per pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -42 points or ▼ -0.20% on Wednesday, March 29, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,659.32 ▼ -42.18 ▼ -0.20% . 
 Nasdaq____ 5,897.55 ▲ 22.41 ▲ 0.38% . 
 S&P_500___ 2,361.13 ▲ 2.56 ▲ 0.11% . 
 30_Yr_Bond____ 2.99 ▼ -0.02 ▼ -0.70% . 

NYSE Volume           3,078,469,750              
Nasdaq Volume           1,738,996,000              

 *Europe             
Symbol... .....Last ….....Change....... * 
 FTSE_100 7,373.72 ▲ 30.30 ▲ 0.41% . 
 DAX_____ 12,203.00 ▲ 53.58 ▲ 0.44% . 
 CAC_40__ 5,069.04 ▲ 22.84 ▲ 0.45% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,910.70 ▲ 50.30 ▲ 0.86% . 
 Shanghai_Comp 3,241.31 ▼ -11.63 ▼ -0.36% . 
 Taiwan_Weight 9,856.25 ▼ -20.20 ▼ -0.20% . 
 Nikkei_225___ 19,217.48 ▲ 14.61 ▲ 0.08% . 
 Hang_Seng.__ 24,392.05 ▲ 46.18 ▲ 0.19% . 
 Strait_Times.__ 3,184.57 ▲ 26.75 ▲ 0.85% . 
 NZX_50_Index_ 7,133.57 ▲ 68.34 ▲ 0.97% . 

http://finance.yahoo.com/news/us-stock-indexes-mostly-lower-early-trading-oil-142833318.html

*US stock indexes close mostly higher; oil up*




ALEX VEIGA

U.S. stock indexes closed mostly higher Wednesday after a sharp increase in crude oil prices helped drive market-leading gains for energy companies.

Banks and other financial stocks declined the most as bond yields headed lower, which translates into lower interest rates on loans and lower profits for banks.

The Dow Jones industrial average ended in the red, while the Standard & Poor's 500 index and Nasdaq composite eked out modest gains. Two stocks rose for every one that fell on the New York Stock Exchange.

"After yesterday's bounce back, you're seeing a little sideways action today," said Jeff Zipper, managing director at the Private Client Reserve of U.S. Bank.

The S&P 500 index added 2.56 points, or 0.1 percent, to 2,361.13. The Dow fell 42.18 points, or 0.2 percent, to 20,659.32. The Nasdaq composite index gained 22.41 points, or 0.4 percent, to 5,897.55.

Bond prices rose. The 10-year Treasury yield fell to 2.39 percent from 2.42 percent.

A day after Wall Street rallied on news that U.S. consumer confidence reached its highest level since 2000, the market got another dose of encouraging economic data Wednesday.

The National Association of Realtors said more people signed contracts to buy U.S. homes last month as warm weather and rising confidence appeared to encourage consumers to look for houses. The NAR's pending home sales index climbed 5.5 percent in February to 112.3, its highest point since April and its second-highest point since 2006.

Investors are hoping that Congress and the White House will enact tax cuts and other business-friendly policy proposals promised by President Donald Trump during his campaign.

Those expectations helped lift the market in the weeks after the election last November. But some of that investor optimism dimmed in recent weeks after the Trump administration's bid to pass a bill intended to begin repealing the Affordable Care Act failed to win enough votes.

"It's really wait-and-see with the focus back on Washington and tax reform," Zipper said.

Outside of Washington, investors had their eye on the latest company earnings news. Investors bid up shares in several companies that posted solid quarterly results or outlooks.

RH, formerly Restoration Hardware, climbed 14.9 percent a day after the home furnishings and decor retailer reported stronger earnings. It added $5.68 to $43.68.

Verint Systems jumped 10 percent after the software company reported better-than-expected quarterly results. Verint also said during a management conference call with analysts that it is possible that at some point it will split itself into two businesses, but noted it has no plans now to do that. Verint's stock rose $3.95 to $43.50.

Traders also welcomed news of other corporate deals.

Exar surged 22.3 percent after MaxLinear agreed to buy the chipmaker for $13 per share, or $662 million. Shares in Exar gained $2.37 to $12.99. MaxLinear rose $1.55, or 5.8 percent, to $28.06.

Some companies' quarterly report cards failed to impress traders.

Dave & Buster's Entertainment fell 3.4 percent after the arcade and restaurant chain announced disappointing sales at older locations. The stock gave up $2.10 to $60.09.

Depomed slid 3.1 percent after the drugmaker issued disappointing first-quarter sales guidance and replaced its CEO and two board members to resolve a dispute with investment firm Starboard Value. The stock dipped 44 cents to $13.79.

Not all drugmakers had a rough day.

Vertex Pharma vaulted 20.5 percent after the drugmaker disclosed results from two studies of a new cystic fibrosis treatment. The company said patients treated with a new experimental drug plus its own Kalydeco had improved lung function. The stock rose $18.34 to $108.01.

Several major overseas stock indexes closed higher.

In Europe, Germany's DAX climbed 0.4 percent, while France's CAC 40 added 0.5 percent. Britain's FTSE 100 gained 0.4 percent against the backdrop of Britain triggering the start of its exit from the European Union. The formal step kicks off two years of negotiations that will have wide-ranging consequences for business in the region.

Earlier in Asia, Tokyo's benchmark Nikkei 225 index edged up 0.1 percent. South Korea's Kospi rose 0.2 percent. Hong Kong's Hang Seng added 0.2 percent. Australia's S&P/ASX 200 rose 0.9 percent to 5,873.50.

In currency trading, the dollar weakened to 111.07 yen from 111.09 yen. The euro fell to $1.0759 from $1.0808.

Energy prices closed sharply higher as traders weighed remarks from Iran's oil minister

Oil prices climbed after Iran's oil minister said the recent production cut deal will probably be extended, and fighting in Libya is affecting its oil industry.

Benchmark U.S. crude oil futures rose $1.14, or 2.4 percent, to close at $49.51 a barrel in New York. The contract rose 64 cents on Tuesday. Brent crude, used to price international oils, climbed $1.09, or 2.1 percent, to close at $52.42 a barrel in London. Natural gas added 8 cents to $3.18 per 1,000 cubic feet, wholesale gasoline rose 4 cents to $1.67 per gallon and heating oil gained 3 cents to $1.54 per gallon.

The price of gold slipped $1.90 to settle at $1,253.70 an ounce. Silver held steady at $18.25 per ounce. Copper was little changed at $2.68 per pound.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 69.2 points or ▲ 0.33% on Thursday, March 30, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,728.49 ▲ 69.17 ▲ 0.33% . 
 Nasdaq____ 5,914.34 ▲ 16.80 ▲ 0.28% . 
 S&P_500___ 2,368.06 ▲ 6.93 ▲ 0.29% . 
 30_Yr_Bond____ 3.03 ▲ 0.03 ▲ 1.10% . 

NYSE Volume           3,157,876,750              
Nasdaq Volume           1,736,698,620              

 *Europe             
Symbol... .....Last ….....Change....... * 
 FTSE_100 7,369.52 ▼ -4.20 ▼ -0.06% . 
 DAX_____ 12,256.43 ▲ 53.43 ▲ 0.44% . 
 CAC_40__ 5,089.64 ▲ 20.60 ▲ 0.41% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,931.80 ▲ 21.10 ▲ 0.36% . 
 Shanghai_Comp 3,210.24 ▼ -31.08 ▼ -0.96% . 
 Taiwan_Weight 9,848.15 ▼ -8.10 ▼ -0.08% . 
 Nikkei_225___ 19,063.22 ▼ -154.26 ▼ -0.80% . 
 Hang_Seng.__ 24,301.09 ▼ -90.96 ▼ -0.37% . 
 Strait_Times.__ 3,173.24 ▼ -11.33 ▼ -0.36% . 
 NZX_50_Index_ 7,169.11 ▲ 35.54 ▲ 0.50% . 

http://finance.yahoo.com/news/us-stock-indexes-edge-higher-early-trading-oil-142925006--finance.html

Banks and other financial companies led U.S. stocks modestly higher Thursday, nudging the Nasdaq composite index to an all-time high.

Rising bond yields, which can result in higher interest rates on loans and bigger profits for banks, helped put traders in the mood to buy banking stocks. Energy companies also notched gains as crude oil prices rose. Utilities and other high-dividend stocks fell.

Investors also bid up shares in companies that released strong quarterly results or announced big transactions. ConocoPhillips jumped 8.8 percent after the energy company agreed to sell most of its Canadian assets.

"Equities are ending the first quarter in a reasonably good place," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. "I do think equities trend sideways, probably for the next month. The rally since the election has centered around improved sentiment regarding tax reform and infrastructure spending, and that's still a work in progress."

The Dow Jones industrial average rose 69.17 points, or 0.3 percent, to 20,728.49. The Standard & Poor's 500 index added 6.93 points, or 0.3 percent, to 2,368.06. The Nasdaq gained 16.80 points, or 0.3 percent, to 5,914.34. Small-company stocks fared better than the other indexes, sending the Russell 2000 index up 10.70 points, or 0.8 percent, to 1,382.35. The four stock indexes last set record highs on March 1.

Bond prices edged lower. The 10-year Treasury yield rose to 2.41 percent from 2.38 percent late Wednesday.

Trading was mostly subdued at the start of trading Thursday following mixed action in overseas markets. But soon investors got another batch of encouraging economic news: The Commerce Department raised its estimate for economic growth in the fourth quarter to 2.1 percent from 1.9 percent, noting that consumer spending increased more than expected. And the Labor Department said applications for unemployment benefits dipped slightly last week.

The latest economic data followed positive reports on consumer confidence and housing earlier this week.

"Today's action and the little bit of strength we've seen the past couple of days is maybe investors focusing a little bit more on fundamentals and the fact that the economy and earnings are in the same trajectory as they were two weeks ago when the markets were at all-time highs, and we're slightly below that," said Sean Lynch, co-head of global equity strategy at Wells Fargo Investment Institute.

Financial sector stocks rose 1.2 percent, the biggest gain among the 11 sectors in the S&P 500. The sector, which is up 2.8 percent this year, accounted for more than half of the index's gains Thursday.

Traders bid up shares in big banks such as Capital One Financial, which rose $2.46, or 2.9 percent, to $87.14.

"What we know is that probably interest rates are rising and the Fed is going to raise rates, and that probably less regulation is on the way, and that might be why sometimes you see financials kick up on a day like this," Lynch said.

ConocoPhillips jumped after the energy company agreed to sell most of its Canadian assets to Canada's Cenovus Energy in a deal valued at $13.2 billion. The stock was the biggest gainer in the S&P 500 index, climbing $4.05 to $50.

Extreme Networks surged 14.2 percent after the network infrastructure equipment maker agreed to buy a data center, switching, routing and analytics business from Brocade Communications once Brocade is acquired by Broadcom. Shares in Extreme Networks rose 92 cents to $7.38.

Several companies rose after turning in strong quarterly results.

Irrigation equipment maker Lindsay Corp. climbed $6.42, or 7.9 percent, to $87.81.

Other companies failed to impress traders.

Lululemon sank 23.4 percent a day after the yoga clothing company's forecast for the quarter fell well short of Wall Street's expectations. The stock slid $15.54 to $50.76.

Science Applications International tumbled 13.1 percent after the information technology company's latest quarterly results missed estimates. The company cited a variety of problems, including delays and declines in contract work. The stock lost $11.28 to $74.97.

World stocks were mixed. In Europe, Germany's DAX and France's CAC 40 each gained 0.4 percent, while Britain's FTSE 100 slipped 0.1 percent. Earlier, some Asian indexes fell after Chinese authorities tightened liquidity in the financial system of the world's second-largest economy.

Hong Kong's Hang Seng shed 0.4 percent, while Tokyo's benchmark Nikkei 225 index lost 0.8 percent. South Korea's Kospi slipped 0.1 percent. Australia's S&P/ASX 200 rose 0.4 percent. Southeast Asian indexes were mixed.

In energy futures trading, benchmark U.S. crude oil rose 84 cents, or 1.7 percent, to close at $50.35 a barrel in New York. Brent crude, used to price international oils, gained 54 cents, or 1 percent, to $52.96 a barrel in London. Natural gas slipped 4 cents to $3.19 per 1,000 cubic feet, wholesale gasoline rose a penny to $1.68 per gallon and heating oil gained 2 cents to $1.56 per gallon.

The price of gold fell $8.70 to settle at $1,245 an ounce. Silver slid 5 cents to $18.21 per ounce. Copper slipped a penny to $2.67 per pound.

In currency trading, the dollar rose to 111.60 yen from 111.03 yen on Wednesday. The euro fell to $1.0691 from $1.0760.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -65 points or ▼ -0.31% on Friday, March 31, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,663.22 ▼ -65.27 ▼ -0.31% . 
 Nasdaq____ 5,911.74 ▼ -2.61 ▼ -0.04% . 
 S&P_500___ 2,362.72 ▼ -5.34 ▼ -0.23% . 
 30_Yr_Bond____ 3.02 ▼ -0.01 ▼ -0.23% . 

NYSE Volume           3,324,477,000             
Nasdaq Volume       347,188,736,000             

 *Europe             *
* Symbol... .....Last ….....Change....... * 
 FTSE_100 7,322.92 ▼ -46.60 ▼ -0.63% . 
 DAX_____ 12,312.87 ▲ 56.44 ▲ 0.46% . 
 CAC_40__ 5,122.51 ▲ 32.87 ▲ 0.65% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,903.80 ▼ -28.00 ▼ -0.47% . 
 Shanghai_Comp 3,222.51 ▲ 12.28 ▲ 0.38% . 
 Taiwan_Weight 9,811.52 ▼ -36.63 ▼ -0.37% . 
 Nikkei_225___ 18,909.26 ▼ -153.96 ▼ -0.81% . 
 Hang_Seng.__ 24,111.59 ▼ -189.50 ▼ -0.78% . 
 Strait_Times.__ 3,175.11 ▲ 1.87 ▲ 0.06% . 
 NZX_50_Index_ 7,196.78 ▲ 27.67 ▲ 0.39% . 

http://finance.yahoo.com/news/us-stock-indexes-wavering-between-142452160.html

*Stocks end 1Q with solid gains after day of listless trading*




ALEX VEIGA

Wall Street closed out a solid quarter Friday with a day of listless trading that ended on a soft note.

The Standard & Poor's 500 index notched its best three-month stretch since the fourth quarter of 2015. The Nasdaq composite turned in its best quarter since the end of 2013.

The S&P 500, Nasdaq and the Dow Jones industrial average ended the day down slightly, with financials companies posting the biggest decline. Real estate companies led the gainers.

Trading was largely subdued, suggesting portfolio managers looking to bolster their end-of-quarter performance had made their moves earlier in the week, said Quincy Krosby, market strategist at Prudential Financial.

"The market has performed very well," she said.

The Dow slid 65.27 points, or 0.3 percent, to 20,663.22. The S&P 500 lost 5.34 points, or 2 percent, to 2,362.72. The Nasdaq fell 2.61 points to 5,911.74. The index hit an all-time high on Thursday.

Small-company stocks fared better than the rest of the market. The Russell 2000 index picked up 3.57 points, or 0.3 percent, to 1,385.92. Three stocks rose for every two that fell on the New York Stock Exchange.

Bond prices edged higher. The 10-year Treasury yield fell to 2.39 percent from 2.42 percent late Thursday.

The major stock indexes got off to a downbeat start Friday and spent much of the day wavering between small gains and losses as investors weighed several corporate deals and new economic data on consumer spending and inflation.

The Commerce Department said consumer spending kept rising in February, though gains in the last two months have been slow. Meanwhile, an inflation gauge closely watched by the Federal Reserve increased 2.1 percent in February compared to a year ago, a five-year high.

The latest economic data followed positive reports on consumer confidence, housing and economic growth earlier this week, which have added to the market's expectation for stronger first-quarter corporate earnings.

"The market is moving ahead into the second quarter with valuations that are high, but the expectations are that the first-quarter earnings season will confirm the valuations," Krosby said.

All told, the S&P 500 index ended the first three months of this year with a gain of 5.5 percent, the Nasdaq posted a gain of 9.8 percent and the Dow climbed of 4.6 percent. The Russell 2000 ended the quarter with a gain of 2.1 percent, its fourth quarter of growth in a row.

Investors bid up shares in companies with better-than-expected earnings Friday.

Industrial products company DXP Enterprises jumped $5.13, or 15.7 percent, to $37.87, while BlackBerry surged $1.03, or 11.1 percent, to $10.30.

NantHealth didn't fare as well. The health care information technology company slid 2.7 percent after it reported disappointing fourth-quarter revenue. The stock shed 13 cents to $4.96.

Auto dealership companies were among the decliners Friday. AutoNation fell $1.20, or 2.8 percent, to $42.29. CarMax slid 84 cents, or 1.4 percent, to $59.22.

Traders cheered several corporate deals.

TRC vaulted 46 percent after the engineering and consulting services company agreed to be bought by a unit of the investment firm New Mountain Capital for $17.55 a share, or $365.5 million. The stock climbed $5.50 to $17.45.

Shares in FMC also got a lift after the company agreed to buy part of DuPont's crop protection business. At the same time, DuPont will buy FMC's health and nutrition unit. DuPont also gets $1.6 billion, mostly in cash. Antitrust regulators in Europe wanted DuPont to make the sale as part of its combination with competitor Dow Chemical. FMC jumped $8.09, or 13.2 percent, to $69.59. DuPont shares fell $1.31, or 1.6 percent, to $80.33.

Major indexes overseas were mixed Friday.

In Europe, Germany's DAX rose 0.5 percent, while France's CAC 40 gained 0.7 percent. The FTSE 100 index of leading British shares fell 0.6 percent.

In Asia, Tokyo's Nikkei 225 and Hong Kong's Hang Seng each fell 0.8 percent. Sydney's S&P-ASX 200 declined 0.5 percent. Seoul's Kospi fell 0.2 percent. India's Sensex gave up 0.2 percent, while Taiwan and New Zealand rose.

Oil futures also posted an uneven finish.

Benchmark U.S. crude recovered from an early slide to add 25 cents and close at $50.60 per barrel in New York. Brent crude, used to price international oils, slipped 13 cents to close at $52.83 a barrel in London.

Natural gas held steady at $3.19 per 1,000 cubic feet. Wholesale gasoline rose 2 cents to $1.70 per gallon and heating oil gained 2 cents to $1.57 per gallon.

The price of gold rose $3.20 to settle at $1,251.20 an ounce. Silver added 5 cents to $18.26 per ounce. Copper slipped 2 cents to $2.65 per pound.

In currency trading, the euro weakened to $1.0684 from $1.0691 on Thursday. The dollar fell to 111.29 yen from 111.60 yen.

3744


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -13 points or ▼ -0.06% on Monday, April 3, 2017 *
* Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,650.21 ▼ -13.01 ▼ -0.06% . 
 Nasdaq____ 5,894.68 ▼ -17.06 ▼ -0.29% . 
 S&P_500___ 2,358.84 ▼ -3.88 ▼ -0.16% . 
 30_Yr_Bond____ 2.99 ▼ -0.03 ▼ -1.09% . 

NYSE Volume           3,416,381,000         
Nasdaq Volume           2,286,434,750         

 *Europe             *
* Symbol... .....Last ….....Change....... * 
 FTSE_100 7,282.69 ▼ -40.23 ▼ -0.55% . 
 DAX_____ 12,257.20 ▼ -55.67 ▼ -0.45% . 
 CAC_40__ 5,085.91 ▼ -36.59 ▼ -0.71% . 

 *Asia Pacific             *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,909.70 ▲ 5.90 ▲ 0.10% . 
 Shanghai_Comp 3,222.51 ▲ 12.28 ▲ 0.38% . 
 Taiwan_Weight 9,811.52 ▼ -36.63 ▼ -0.37% . 
 Nikkei_225___ 18,983.23 ▲ 73.97 ▲ 0.39% . 
 Hang_Seng.__ 24,261.48 ▲ 149.89 ▲ 0.62% . 
 Strait_Times.__ 3,187.51 ▲ 12.40 ▲ 0.39% . 
 NZX_50_Index_ 7,225.01 ▲ 28.23 ▲ 0.39% . 

http://finance.yahoo.com/news/us-stocks-start-lower-car-142427681.html

*US stocks fall as weak auto sales trouble investors*




MARLEY JAY

NEW YORK (AP) — U.S. stocks started the second quarter with a thud Monday after car makers reported disappointing March sales, a possible warning about other types of spending. But a late recovery helped stocks avoid bigger losses.

Stocks tumbled in morning trading after automakers including Ford and General Motors said passenger car sales slumped last month. Auto parts and rental car companies also tumbled. Spending by shoppers is a critical part of economic growth and investors found themselves wondering if spending will keep growing as it has in recent years. Small companies slumped, as their performance is closely linked to U.S. economic growth.

While stocks recovered most of their earlier losses, the weak car sales still sent a chill through the market. Steven Ricchiuto, chief U.S. economist for Mizuho, said auto sales have been a major part of the U.S. economy recently, and if car sales fall, consumer spending would also weaken. That in turn might mean manufacturers and other companies won't open as many factories or hire as many workers.

"If we're starting to lose some of the momentum on autos, where is the momentum going to come from?" he said.

The Standard & Poor's 500 index fell as much as 18 points around midday, but finished down just 3.88 points, or 0.2 percent, at 2,358.84. The Dow Jones industrial average lost as much as 145 points but wound up with a loss of 13.01 points, or 0.1 percent, to 20,650.21. The Nasdaq composite shed 17.06 points, or 0.3 percent, to 5,894.68. The Russell 2000 index of small-company stocks gave up 16.25 points, or 1.2 percent, to 1,369.67.

Ford, Fiat Chrysler, Toyota and Honda all said their overall sales decreased in March as passenger car sales kept falling. GM reported its sales were up thanks to stronger SUV sales, but its totals weren't as good as experts expected.

Auto sales have reached all-time highs in recent years, but companies are offering more cash, incentives, and low-interest loans to draw in buyers. Investors are getting worried that companies will be stuck with vehicles they'll have to sell for big discounts.

Fiat Chrysler lost 52 cents, or 4.8 percent, to $10.41 and General Motors stock fell $1.19, or 3.4 percent, to $34.17. Ford gave up 20 cents, or 1.7 percent, to $11.44.

Five of the eight worst performers in the S&P 500 Monday came from the auto industry. Auto parts retailer O'Reilly Automotive dropped $11.15, or 4.1 percent, to $258.69. Auto retailer AutoNation shed $1.45, or 3.1 percent, to $40.84 and Goodyear Tire slid 73 cents, or 2 percent, to $35.28.

Tesla said over the weekend that its deliveries jumped 69 percent in the first quarter to a record 25,000. The electric car company's stock climbed $20.22, or 7.3 percent, to $298.52. Tesla's market capitalization rose to $48.7 billion, greater than Ford's.

Bond prices rose sharply. The yield on the 10-year Treasury note fell to 2.33 percent from 2.39 percent. When bond yields fall, interest rates also decrease, and that affected banks and financial institutions.

As investors felt less certain about the performance of the economy, they sold stocks in companies that do the best when the economy is growing quickly. Retailers, technology companies, and industrial companies fell more than the rest of the market on Monday.

The dollar sank to 110.96 yen from 111.29 yen and the euro fell to $1.0665 from $1.0684.

Benchmark U.S. crude lost 36 cents to $50.24 a barrel in New York. Brent crude, used to price international oils, slipped 41 cents to $53.12 a barrel in London.

Health care companies finished with small gains as big health insurers traded higher. Cigna added $2.90, or 2 percent, to $149.39 and Humana picked up $3.63, or 1.8 percent, to $209.77. Aetna and UnitedHealth both rose about 1 percent.

Novocure jumped after a study of its Optune device, which uses electric fields to fight cancer, appeared to improve survival for patients with aggressive brain tumors. Over the weekend the company said 13 percent of patients treated with the device as well as chemotherapy were still alive after five years, compared to 5 percent for the patients who received only chemotherapy. Many doctors are skeptical of the product, and it's costly, at $21,000 a month. Novocure stock climbed $3, or 37 percent, to $11.10.

In other energy trading, wholesale gasoline fell 1 cent to $1.69 a gallon. Heating oil slid 1 cent to $1.56 a gallon. Natural gas skidded 6 cents, or 1.9 percent, to $3.13 per 1,000 cubic feet.

The price of gold rose $2.80 to $1,254 an ounce. Silver lost 4 cents to $18.21 an ounce. Copper dropped 5 cents, or 1.8 percent, to $2.60 a pound.

France's CAC 40 slipped 0.7 percent. The German DAX sank 0.5 percent, as did the FTSE 100 of Britain. Japan's benchmark Nikkei 225 added 0.4 percent and the Kospi in South Korea rose 0.3 percent. Hong Kong's Hang Seng gained 0.5 percent.


----------



## bigdog

Source: http://finance.yahoo.com 

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  HIGHER ▲ 39 points or ▲ 0.19% on Tuesday, April 4, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,689.24 ▲ 39.03 ▲ 0.19% . 
 Nasdaq____ 5,898.61 ▲ 3.93 ▲ 0.07% . 
 S&P_500___ 2,360.16 ▲ 1.32 ▲ 0.06% . 
 30_Yr_Bond____ 2.99 ▲ 0.01 ▲ 0.27% . 

NYSE Volume           3,206,142,500              
Nasdaq Volume           2,548,768,750              

 *Europe             
Symbol... .....Last ….....Change....... * 
 FTSE_100 7,321.82 ▲ 39.13 ▲ 0.54% . 
 DAX_____ 12,282.34 ▲ 25.14 ▲ 0.21% . 
 CAC_40__ 5,101.13 ▲ 15.22 ▲ 0.30% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,895.80 ▼ -13.90 ▼ -0.24% . 
 Shanghai_Comp 3,222.51 ▲ 12.28 ▲ 0.38% . 
 Taiwan_Weight 9,811.52 ▼ -36.63 ▼ -0.37% . 
 Nikkei_225___ 18,810.25 ▼ -172.98 ▼ -0.91% . 
 Hang_Seng.__ 24,261.48 ▲ 149.89 ▲ 0.62% . 
 Strait_Times.__ 3,179.06 ▼ -8.45 ▼ -0.27% . 
 NZX_50_Index_ 7,244.54 ▲ 19.53 ▲ 0.27% . 

http://finance.yahoo.com/news/stock...ess-investment-report-142523289--finance.html

*Stocks tread water as energy companies rise and banks fall*




MARLEY JAY

NEW YORK (AP) — U.S. stocks hardly moved Tuesday as investors were slow to dip a toe back into the market, although energy companies did climb with the price of oil and natural gas. Banks and retailers took losses.

Stock indexes flickered between tiny gains and losses throughout the day before they mounted a small rally over the last half hour of trading. Energy companies rose the most, and companies that make drinks, packaged foods, and other household items also rose. Retailers and department stores slumped after Urban Outfitters warned of weak first-quarter sales and Ralph Lauren said it will close stores and cut jobs.

That came a day after car makers reported weak sales for March, which raised concerns about sales of other goods.

Eric Wiegand, senior portfolio manager at U.S. Bank's Private Client Reserve, said consumers are very confident in the economy according to surveys, but considering high levels of employment and hiring, they're not spending that much.

"We would like to see that confidence reflected in their actual consumption and that's been somewhat mixed," he said.

The Standard & Poor's 500 index picked up 1.32 points, or almost 0.1 percent, to 2,360.16. The Dow Jones industrial average rose 39.03 points, or 0.2 percent, to 20,689.24. The Nasdaq composite added 3.93 points, or 0.1 percent, to 5,898.61.

Slightly more stocks fell than rose on the New York Stock Exchange, and the Russell 2000 index, which contains smaller-company stocks, lost 1.49 points, or 0.1 percent, to 1,368.18.

This week investors will pore over reports on the U.S. economy, including the monthly jobs report on Friday. Trade agreements will be in focus as President Donald Trump and Chinese President Xi Jinping meet Thursday and Friday.

Ralph Lauren dropped $3.63, or 4.5 percent, to $77.73 after it said it will close stores and cut jobs in an effort to save money. The company will close its Fifth Avenue store in Manhattan less than three years after it opened. Urban Outfitters lost 7 cents, or 3.1 percent, to $22.49 after it said sales at older stores have fallen over the last two months.

Other retailers also lost ground. Department store Nordstrom fell $2.56, or 5.5 percent, to $43.92 and L Brands, the owner of Victoria's Secret, shed $2.03, or 4.4 percent, to $43.77. But their online nemesis Amazon gained $15.32, or 1.7 percent, to $906.83. Amazon stock is up 21 percent this year.

Handbag and accessories maker Kate Spade slumped after Reuters said the company will take more time to negotiate a possible sale. The report cited anonymous sources and said that if Kate Spade is sold to a buyer like Michael Kors or Coach, it will likely be for less than the company's recent valuation of $2.9 billion. Kate Spade sank $3.34, or 14.6 percent, to $19.46.

Benchmark U.S. crude rose 79 cents, or 1.6 percent, to $51.03 per barrel in New York. Brent crude, used to price international oils, added $1.05, or 2 percent, to $54.17 a barrel in London. Anadarko Petroleum added 92 cents, or 1.5 percent, to $62.71.

The price of natural gas jumped 4.6 percent to $3.27 per 1,000 cubic feet, and Southwestern Energy climbed 70 cents, or 8.9 percent, to $8.59 while Range Resources gained $1.19, or 4.2 percent, to $29.76. Wholesale gasoline rose 3 cents to $1.72 a gallon and heating oil added 3 cents to $1.59 a gallon.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.36 percent from 2.33 percent.

Banks took losses for the second day in a row following a sharp drop in bond yields Monday. Lower bond yields force interest rates on loans lower, which cuts into banks' profits. Capital One Financial slid 54 cents to $85.26 and Discover Financial Services lost 90 cents, or 1.3 percent, to $67.05.

The Commerce Department said U.S. factory orders kept growing in February thanks to greater demand for commercial aircraft. Boeing said it will sell $3 billion in aircraft to an Iranian airline, and its stock gained $2.05, or 1.2 percent, to $178.70.

Manufacturers have been recovering recently from a rough patch that was caused by weak economies overseas and the strong dollar, which made U.S. goods more expensive. A measurement of business investment spending decreased for the first time since September.

Staples climbed after the Wall Street Journal reported that the office supply company is talking to private equity firms about a potential sale. Staples tried to buy competitor Office Depot for $6.3 billion, but gave up on that effort last May after regulators opposed it and a federal judge said it would reduce competition. Staples jumped 85 cents, or 9.8 percent, to $9.51.

Gold rose $4.40 to $1,258.40 an ounce. Silver added 11 cents to $18.32 an ounce. Copper rose 1 cent to $2.61 per pound.

The dollar slipped to 110.65 yen from 110.96 yen. The euro edged up to $1.0670 from $1.0665.

Britain's FTSE 100 gained 0.5 percent and the CAC 40 in France rose 0.3 percent. In Germany, the DAX added 0.2 percent. The Japanese Nikkei 225 fell 0.9 percent as the yen gained against the U.S. dollar. The South Korean Kospi slipped 0.3 percent. Markets in Hong Kong were closed for public holidays.


----------



## bigdog

Source: http://finance.yahoo.com 

 *The NYSE DOW closed  LOWER ▼ -41 points or ▼ -0.20% on Wednesday, April 5, 2017 
Symbol …........Last …......Change....... .. * 
 Dow_Jones 20,648.15 ▼ -41.09 ▼ -0.20% . 
 Nasdaq____ 5,864.48 ▼ -34.13 ▼ -0.58% . 
 S&P_500___ 2,352.95 ▼ -7.21 ▼ -0.31% . 
 30_Yr_Bond____ 3.01 ▲ 0.01 ▲ 0.43% . 

NYSE Volume           3,770,513,250              
Nasdaq Volume           2,965,557,000              

 *Europe             
Symbol... .....Last ….....Change....... * 
 FTSE_100 7,331.68 ▲ 9.86 ▲ 0.13% . 
 DAX_____ 12,217.54 ▼ -64.80 ▼ -0.53% . 
 CAC_40__ 5,091.85 ▼ -9.28 ▼ -0.18% . 

 *Asia Pacific             
Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,915.90 ▲ 20.10 ▲ 0.34% . 
 Shanghai_Comp 3,270.31 ▲ 47.79 ▲ 1.48% . 
 Taiwan_Weight 9,949.48 ▲ 137.96 ▲ 1.41% . 
 Nikkei_225___ 18,861.27 ▲ 51.02 ▲ 0.27% . 
 Hang_Seng.__ 24,400.80 ▲ 139.32 ▲ 0.57% . 
 Strait_Times.__ 3,176.55 ▼ -2.51 ▼ -0.08% . 
 NZX_50_Index_ 7,265.05 ▲ 20.51 ▲ 0.28% . 

http://finance.yahoo.com/news/us-stocks-surge-early-strong-140940058.html

*Stocks wither as Fed plans throw cold water on early rally*




MARLEY JAY

NEW YORK (AP) — A big rally in U.S. stocks evaporated Wednesday as the Federal Reserve appeared to struggle with questions related to inflation and government policy and suggested it might start trimming its balance sheet later in the year.

Stocks had jumped early on after payroll processor ADP said private U.S. businesses added 263,000 jobs in March, which was more than analysts expected. The Dow Jones industrial average rose as much as 198 points, and the Nasdaq composite reached an all-time intraday high. Industrial and energy companies made some of the largest gains.

But stocks halted their advance and started falling at 2 p.m. Eastern, when the Federal Reserve disclosed the minutes from its policy meeting last month. The minutes showed Fed officials discussing plans to reduce the Fed's bond holdings later this year and disagreeing over whether it would be safe to let inflation rise faster and how to deal with the economic impact of President Donald Trump's stimulus ideas.

The Standard & Poor's 500 index lost 7.21 points, or 0.3 percent, to 2,352.95. The Dow sank 41.09 points, or 0.2 percent, to 20,648.15. The Nasdaq fell 34.13 points, or 0.6 percent, to 5,864.48. The Russell 2000 index of small-company stocks lost 16.03 points, or 1.2 percent, to 1,352.14.

The Federal Reserve bought trillions of dollars' worth of bonds during the financial crisis of 2008-09 in an effort to stimulate the economy. When its bonds mature, it has continued to buy new ones. But now, the Fed may stop buying new bonds when older ones mature, which would gradually shrink the size of its holdings.

That sent bond prices surging and yields tumbling. The yield on the 10-year Treasury note fell to 2.33 percent from 2.36 percent. When bond yields fall, interest rates fall with them. That tends to hurt banks because it means reduced profits on lending, and banks took the largest losses Wednesday. JPMorgan Chase dropped $1.12, or 1.3 percent, to $86.19 and BB&T shed 56 cents, or 1.3 percent, to $43.98.

Banks made strong gains in early trading but they wound up with much bigger losses than the rest of the market.

For the last couple of months it seemed investors and the Fed understood each other well, as the central bank indicated it intended to keep raising interest rates gradually assuming the economy continued to grow at a steady clip. It raised rates in December and March. The uncertainty reflected in the Fed's March meeting may challenge that understanding.

Soup and sandwich chain Panera agreed to be acquired by JAB Holding of Europe for $315 a share. JAB has quietly become a rival to Starbucks in recent years as it owns, or has a large stake in, a series of brands that includes Peet's Coffee & Tea, Caribou Coffee, Stumptown Coffee, Keurig Green Mountain and Krispy Kreme Doughnuts. Panera stock jumped in recent days thanks to rumors about a deal. It rose $38.94, or 14.2 percent, to $312.94. The stock was trading at $230 a share a month ago.

Early Wednesday, U.S. and European regulators approved the sale of Swiss agribusiness Syngenta to ChemChina. ChemChina will have to sell some businesses to complete the $43 billion deal, but those rulings may have made investors more hopeful that two other giant chemical deals will be approved.

Dow Chemical and DuPont, which plan to combine, both rose. Dow Chemical gained 32 cents to $63.52 and DuPont added 67 cents to $80.47.

Monsanto reported profit and sales that were far better than analysts expected. Monsanto said profits from its corn and soybean businesses grew in the fiscal second quarter. It also backed its forecasts for the year and said its sale to Bayer of Germany should close by the end of the year. The stock rose $1.10, or 1 percent, to $115.31.

Greenbrier, which makes railroad freight car equipment, announced a bigger profit and better sales than analysts expected. It also said rail traffic is growing and announced a $1 billion agreement with a key customer. Greenbrier stock climbed $4.30, or 10 percent, to $47.25.

U.S. crude oil rose 12 cents to $51.15 a barrel in New York. Brent, the international standard, gained 19 cents to $54.36 a barrel in London.

In other energy trading, wholesale gasoline remained at $1.72 a gallon. Heating oil rose 1 cent to $1.60 a gallon. Natural gas decline 3 cents to $3.27 per 1,000 cubic feet.

Gold sank $9.90 to $1,248.50 an ounce. Silver lost 14 cents to $18.19 an ounce. Copper jumped 7 cents, or 2.6 percent, to $2.68 a pound. Those moves reflected investors' earlier optimism, as precious metals trading ends before stock trading does.

The dollar rose to 110.86 yen from 110.65 yen. The euro fell to $1.0667 from $1.0670.

The FTSE 100 index in Britain gained 0.1 percent. France's CAC 40 lost 0.2 percent and the DAX in Germany fell 0.5 percent. Japan's Nikkei 225 index gained 0.3 percent and Hong Kong's Hang Seng advanced 0.6 percent. The Kospi of South Korea finished little changed.


----------



## bigdog

ource: http://finance.yahoo.com

Source: http://finance.yahoo.com

 *The NYSE DOW closed  HIGHER ▲ 14.8 points or ▲ ### on #### *
* Symbol …........Last …......Change....... * 
 Dow_Jones 20,662.95 ▲ 14.80 ▲ 0.07% 
 Nasdaq____ 5,878.95 ▲ 14.47 ▲ 0.25% 
 S&P_500___ 2,357.49 ▲ 4.54 ▲ 0.19% 
 30_Yr_Bond____ 2.99 ▼ -0.02 ▼ -0.63% 

NYSE Volume          3,202,890,250          
Nasdaq Volume          2,433,265,500

 *Europe           *
* Symbol... .....Last ….....Change....... * 
 FTSE_100 7,303.20 ▼ -28.48 ▼ -0.39% 
 DAX_____ 12,230.89 ▲ 13.35 ▲ 0.11% 
 CAC_40__ 5,121.44 ▲ 29.59 ▲ 0.58% 

 *Asia Pacific *
* Symbol...... ….......Last .....Change…...... * 
 ASX_All_Ord___ 5,897.30 ▼ -18.60 ▼ -0.31% 
 Shanghai_Comp 3,281.00 ▲ 10.70 ▲ 0.33% 
 Taiwan_Weight 9,897.80 ▼ -51.68 ▼ -0.52% 
 Nikkei_225___ 18,597.06 ▼ -264.21 ▼ -1.40% 
 Hang_Seng.__ 24,273.72 ▼ -127.08 ▼ -0.52% 
 Strait_Times.__ 3,175.59 ▼ -0.96 ▼ -0.03% 
 NZX_50_Index_ 7,271.58 ▼ -17.94 ▼ -0.25% 

http://finance.yahoo.com/news/stocks-wobble-early-going-day-141041758.html

*Stocks end higher as retailers and smaller companies rise*




MARLEY JAY

NEW YORK (AP) — U.S. stocks inched higher Thursday as smaller retailers and banks traded higher and energy companies rose with fuel prices. Once again, the market was unable to hang on to more substantial gains from earlier in the day.

Strong reports from companies including L Brands, the parent of Victoria's Secret, and Bed Bath & Beyond helped retailers. Energy companies rose with the prices of oil and natural gas, and banks recovered some of the sharp losses they took a day ago.

The Dow Jones industrial average rose as much as 98 points early in the afternoon. However high-dividend stocks like phone companies and utilities skidded and technology companies also fell.

Terry Sandven, chief equity strategist for U.S. Bank Wealth Management, said investors are feeling uncertain, and that may hold true for at least a few weeks. After a weak auto sales report on Monday, he said investors are wondering how fast the economy is growing and what that will mean for company earnings.

"We expect volatility to be higher than what we experienced in the first quarter," he said.

It was the second day in a row that stocks slumped during afternoon trading, although the slip Thursday was far less dramatic than the one the day before. That slide started after the Federal Reserve said it may stop buying new bonds later this year and said its policymakers were grappling with whether it would be safe to let inflation rise faster.

The Standard & Poor's 500 index added 4.54 points, or 0.2 percent, to 2,357.49. The Dow Jones industrial average rose 14.80 points, or 0.1 percent, to 20,662.95.

The Nasdaq composite gained 14.47 points, or 0.2 percent, to 5,878.95. The Russell 2000 index of small-company stocks performed far better. It climbed 12.28 points, or 0.9 percent, to 1,364.43.

About three-fourths of the stocks on the New York Stock Exchange rose Thursday, but stocks are mostly down this week. The Russell 2000 has fallen 1.6 percent.

Investors will get an updated picture of the economy in the coming weeks, including the government's March report on employment Friday. Next week the Commerce Department will give a report on retailer sales and companies including JPMorgan Chase, Delta Air Lines and Netflix will report their earnings.

L Brands jumped $4.75, or 11 percent, to $47.85 after it reported strong March sales. Bed Bath & Beyond surpassed analysts' earnings estimates and climbed $1.28, or 3.4 percent, to $39.08. Department stores and mall-based retailers like Kohl's, Nordstrom and Gap traded higher. Discount retailers Fred's and Five Below made hefty gains after Fred's announced its own quarterly results.

Retail stocks have been hit hard for months as shoppers spend more money online and less at stores, especially ones based in malls.

Bond prices recovered from an early decline. The yield on the 10-year Treasury note stayed at 2.34 percent. Companies that pay big dividends, like phone companies and utilities, traded lower. Investors often sell those stocks when bond yields rise, as they did earlier in the day.

U.S. crude oil added 55 cents, or 1.1 percent, to $51.70 a barrel in New York while Brent crude, the international standard, rose 53 cents, or 1 percent, to $54.89 a barrel in London.

Wine, liquor and beer maker Constellation Brands jumped after it reported a larger profit and better sales than analysts expected. The company said its beer business, which includes Corona and Modelo, had a strong quarter, and it raised its profit forecast for the year. Its stock gained $10.37, or 6.4 percent, to $171.77.

Sunoco climbed after it agreed to sell most of its convenience stores to 7-Eleven. Sunoco will get $3.3 billion and 7-Eleven will acquire 1,100 stores, mostly in the East Coast and Texas. Sunoco also struck a fuel supply deal with a 7-Eleven subsidiary and it plans to sell 200 more convenience stores in a separate deal. Shares of Sunoco jumped $4.83, or 20.2 percent, to $28.69.

Consumer products giant Unilever said it will shake up its business after it rejected a $143 billion takeover effort from Kraft Heinz. It plans to sell its spreads business, which makes I Can't Believe It's Not Butter and Country Crock, combine its food and refreshment divisions, and return more than $5 billion to investors by buying back stock and raising its dividend. Its shares gained 44 cents to $49.55.

In other energy trading, wholesale gasoline added 1 cent to $1.73 a gallon. Heating oil rose 1 cent to $1.61 per gallon. Natural gas jumped 7 cents, or 2 percent, to $3.33 per 1,000 cubic feet.

Gold rose $4.80 to $1,253.30 an ounce. Silver added 6 cents to $18.25 an ounce. Copper slipped 2 cents to $2.66 a pound.

The dollar fell to 110.78 yen from 110.86 yen. The euro fell to $1.0646 from $1.0667.

France's CAC 40 jumped 0.6 percent and the FTSE 100 index in Britain fell 0.4 percent. Germany's DAX rose 0.1 percent. In Japan the benchmark Nikkei 225 lost 1.4 percent, and the Kospi of South Korea lost 0.4 percent. Hong Kong's Hang Seng fell 0.6 percent.


----------



## bigdog

Source: http://finance.yahoo.com . . . . . . .
. . . . . . . . .
 *The NYSE DOW closed  LOWER ▼ -6.9 points or ▼ -0.03% on Friday, April 7, 2017 *
* Symbol …........Last …......Change....... . * . . . . 
 Dow_Jones 20,656.10 ▼ -6.85 ▼ -0.03% . 
 Nasdaq____ 5,877.81 ▼ -1.14 ▼ -0.02% . 
 S&P_500___ 2,355.54 ▼ -1.95 ▼ -0.08% . 
 30_Yr_Bond____ 3.00 ▲ 0.01 ▲ 0.37% . 
. . . . . . . . .
NYSE Volume          3,053,049,750 . . . . . . .
Nasdaq Volume          2,311,641,250 . . . . . . .
. . . . . . . . .
 *Europe . . . . . . *
* Symbol... .....Last ….....Change....... *       . 
 FTSE_100 7,349.37 ▲ 46.17 ▲ 0.63% . 
 DAX_____ 12,225.06 ▼ -5.83 ▼ -0.05% . 
 CAC_40__ 5,135.28 ▲ 13.84 ▲ 0.27% . 
. . . . . . . . .
 *Asia Pacific . . . . . . *
* Symbol...... ….......Last .....Change…...... * . . . . 
 ASX_All_Ord___ 5,902.60 ▲ 5.30 ▲ 0.09% . 
 Shanghai_Comp 3,286.62 ▲ 5.61 ▲ 0.17% . 
 Taiwan_Weight 9,873.37 ▼ -24.43 ▼ -0.25% . 
 Nikkei_225___ 18,664.63 ▲ 67.57 ▲ 0.36% . 
 Hang_Seng.__ 24,267.30 ▼ -6.42 ▼ -0.03% . 
 Strait_Times.__ 3,177.27 ▲ 1.68 ▲ 0.05% . 
 NZX_50_Index_ 7,243.76 ▼ -45.76 ▼ -0.63% . 
 
http://finance.yahoo.com/news/shaky-start-stocks-syria-strike-142624628.html

*After weak jobs report and Syria strikes, stocks stand still*




Marley Jay, AP Markets Writer

NEW YORK (AP) -- U.S. stocks never got going Friday after a slightly disappointing jobs report and word of U.S. missile strikes against Syria. Investors bought shares of defense contractors and stocks that are traditionally considered safe.

Stocks moved between gains and losses all morning after the Labor Department said employers didn't add as many jobs as analysts had forecast. They started to rise in afternoon trading, but those gains didn't last. Investors bought high-dividend stocks like real estate investment trusts and household goods makers, but banks and energy companies fell.

Scott Wren, senior global equity strategist at the Wells Fargo Investment Institute, said he is not surprised the stock market did not have an overwhelming reaction to the jobs report or missile strikes because neither really altered investors' views of the U.S. economy.

"It was not a bad (jobs) report, it was just another in a long, long, long line of not bad, not great reports," he said. Wren said the economy probably won't grow much faster over the next few years because the Federal Reserve plans to keep raising interest rates, which makes borrowing more expensive.

The Standard & Poor's 500 slid 1.95 points, or 0.1 percent, to 2,355.54. The Dow Jones industrial average lost 6.85 points to 20,656.10. The Nasdaq composite dipped 1.14 points to 5,877.71. The Russell 2000 index of small-company stocks inched up 0.14 points to 1,364.56.

While stocks didn't move much overall, there were a few clear trends. Investors mostly avoided industries whose performance is closely linked to the state of the economy.

The government said employers added 98,000 jobs in March, which was weaker than the last few months and about half as many as analysts had predicted. One-time factors including snowstorms may have temporarily slowed hiring. The unemployment rate fell to 4.5 percent, its lowest level since 2007, as more people found work.

Over the last three months, employers had added an average of 178,000 jobs a month. That's just a bit slower than the monthly average from 2016.

Overnight, the U.S. launched a missile attack on a Syrian air force base following a chemical weapons strike blamed on the government of President Bashar Assad earlier in the week. The move was condemned by Russia and Iran. The VIX, known as Wall Street's "fear gauge," started rising late Thursday as the U.S. government shifted its policy on Syria.

Earlier the price of gold jumped to its highest price since right after the presidential election in November, and bond prices climbed. But that didn't last long, and bond prices turned lower late in the day. The yield on the 10-year Treasury note rose to 2.38 percent from 2.34 percent.

Still, the increased geopolitical uncertainty sent defense stocks higher. Raytheon added $2.21, or 1.5 percent, to $152.96 and Lockheed Martin rose $3.12, or 1.2 percent, to $270.23.

Among high-dividend stocks, Wal-Mart gained $1.47, or 2.1 percent, to $72.90 and Prologis rose 52 cents, or 1 percent, to $53.58.

The military strikes in the Middle East sent crude prices higher. U.S. oil added 54 cents, or 1 percent, to $52.24 a barrel in New York. Brent crude, the standard for international oil prices, rose 35 cents to $55.24 a barrel in London.

Twenty-First Century Fox declined for the fifth day in a row as advertisers continued to pull their ads from "The O'Reilly Factor." Less than a week ago, the New York Times reported that Fox News and Bill O'Reilly, the network's most popular prime-time host, have paid $13 million to five women to settle allegations of sexual misconduct. Kantar Media says the show brought in more than $100 million in advertising revenue in 2016. The stock lost 5 cents to $31.07 and fell 4.1 percent this week.

Wells Fargo dipped after an influential firm that advises big shareholders says most of its board of directors should be removed. Institutional Shareholder Services said the board isn't doing enough to oversee the bank's sales practices. A second firm also recommended that a large portion of the board be replaced at the Wells Fargo shareholder meeting later this month.

Wells Fargo recently agreed to pay $110 million to settle a class-action lawsuit after its employees opened more than 2 million accounts without customers' permission. CEO John Stumpf abruptly retired after the scandal came to light and thousands of employees were fired. On Friday Wells Fargo stock fell 53 cents, or 1 percent, to $54.84.

Gold finished up $4 at $1,257.30. Silver lost 10 cents to $18.15 an ounce. Copper declined 1 cent to $2.65 a pound.

In other energy trading, wholesale gasoline gained 2 cents to $1.75 a gallon. Heating oil rose 2 cent to $1.63 a gallon. Natural gas slid 7 cents, or 2.1 percent, to $3.26 per 1,000 cubic feet.

The dollar dipped to 111.15 yen from 110.78 yen. The euro fell to $1.0588 from $1.0646.

In Britain, the FTSE 100 index was 0.6 percent higher and the French CAC 40 rose 0.3 percent. Germany's DAX hardly budged. Japan's benchmark Nikkei 225 index rose 0.4 percent. The Kospi of South Korea lost 0.1 percent and Hong Kong's Hang Seng was little changed.

4195


----------



## bigdog

Source: http://finance.yahoo.com . . . . . . .
. . . . . . . . .
 *The NYSE DOW closed HIGHER ▲  1.92 points or ▲ 0.01% on Monday, April 10, 2017 *
* Symbol …........Last …......Change....... . * . . . . 
 Dow_Jones 20,658.02 ▲ 1.92 ▲ 0.01% 
 Nasdaq____ 5,880.93 ▲ 3.11 ▲ 0.05% . 
 S&P_500___ 2,357.16 ▲ 1.62 ▲ 0.07% . 
 30_Yr_Bond____ 2.99 ▼ -0.01 ▼ -0.37% . 
. . . . . . . . .
NYSE Volume          2,780,935,000 . . . . . . .
Nasdaq Volume          1,611,567,750 . . . . . . .
. . . . . . . . .
 *Europe . . . . . . *
* Symbol... .....Last ….....Change....... *       . 
 FTSE_100 7,348.94 ▼ -0.43 ▼ -0.01% . 
 DAX_____ 12,200.52 ▼ -24.54 ▼ -0.20% . 
 CAC_40__ 5,107.45 ▼ -27.82 ▼ -0.54% . 
. . . . . . . . .
 *Asia Pacific . . . . . . *
* Symbol...... ….......Last .....Change…...... * . . . . 
 ASX_All_Ord___ 5,948.90 ▲ 46.30 ▲ 0.78% . 
 Shanghai_Comp 3,269.39 ▼ -17.22 ▼ -0.52% . 
 Taiwan_Weight 9,882.54 ▲ 9.17 ▲ 0.09% . 
 Nikkei_225___ 18,797.88 ▲ 133.25 ▲ 0.71% . 
 Hang_Seng.__ 24,262.18 ▼ -5.12 ▼ -0.02% . 
 Strait_Times.__ 3,181.45 ▲ 4.18 ▲ 0.13% . 
 NZX_50_Index_ 7,238.86 ▼ -4.90 ▼ -0.07% . 



http://finance.yahoo.com/news/us-stock-indexes-edge-higher-142627403.html

*US stock indexes eke out tiny gains, led by energy*





ALEX VEIGA

U.S. stock indexes eked out tiny gains Monday as news of several corporate deals helped lift the market.

Energy stocks led the gainers as the price of crude oil rose for the fifth day in a row. Phone companies were the biggest laggard. Gold fell and the dollar weakened versus the yen and euro.

"There's not a lot of impetus to move markets today," said David Schiegoleit, managing director at the Private Client Reserve at U.S. Bank. "The market is just biding time until we get more data."

The Standard & Poor's 500 index gained 1.62 points, or 0.1 percent, to 2,357.16. The Dow Jones industrial average rose 1.92 points, or 0.01 percent, to 20,658.02. The Nasdaq composite index added 3.11 points, or 0.1 percent, to 5,880.93.

Bond prices rose. The 10-year Treasury yield fell to 2.36 percent from 2.38 percent late Friday.

The major indexes veered lower soon after the market opened on Monday, but moved into positive territory by midday. They spent much of the afternoon drifting between small gains and losses.

Trading was mostly quiet ahead of the Good Friday holiday, when U.S. markets will be closed. In addition, no major economic reports are due out this week, though the next cycle of company earnings reports kicks off on Wednesday.

"There are a lot of things coming up on the horizon, with earnings, Fed-speak and things like that," said Schiegoleit. "In terms of everything else, the market is in a wait-and-see mode."

Several oil industry stocks got a boost from rising crude prices. Hess climbed $1.92, or 4 percent, to $49.97. Rig operator Transocean rose 32 cents, or 2.6 percent, to $12.75.

Benchmark crude oil closed higher for the fifth day in a row, adding 84 cents, or 1.6 percent, to $53.08 a barrel in New York. Brent crude, the standard for international oil prices, gained 74 cents, or 1.3 percent, at $55.98 a barrel in London.

Traders bid up shares in several companies announcing deals.

Among them were trucking companies Swift Transportation and Knight Transportation, which agreed to combine in an all-stock deal. Swift shareholders will own a majority of the company, which will be called Knight-Swift Transportation Holdings. Swift's shares added $4.75, or 23.7 percent, to $24.77, while Knight gained $4.10, or 13.4 percent, to $34.75.

Straight Path Communications more than doubled after the wireless spectrum license company agreed to be acquired by AT&T in a deal valued at $1.25 billion. Straight Path's shares gained $55.16, or 151.2 percent, to $91.64. AT&T slipped 21 cents to $40.38.

The whiff of a potential company sale also drew investors to buy up shares in Whole Foods Market.

The company's stock jumped 10 percent after Jana Partners bought an 8.8 percent stake in the supermarket chain. Three Jana employees plan to run for spots on the board and seek to launch a review of options for the company, including a potential sale. The stock was the biggest gainer in the S&P 500, adding $3.10 to $34.17.

A management change and brighter outlook helped lift Rent-A-Center sharply higher.

The furniture and appliance rental company said Mark Speese, its founder and chairman, will return as CEO. Speese has been the company's interim CEO the last three months. Rent-A-Center also issued an optimistic 2018 forecast. The stock climbed 69 cents, or 7.2 percent, to $10.29.

Major stock indexes overseas were mixed Monday.

Germany's DAX inched down 0.2 percent, while France's CAC 40 lost 0.5 percent. Britain's FTSE 100 was flat. Earlier in Asia, Japan's benchmark Nikkei 225 added 0.7, while Australia's S&P/ASX 200 gained 0.9 percent. South Korea's Kospi fell 0.9 percent. Hong Kong's Hang Seng was steady.

In other energy trading, wholesale gasoline gained 1 cent to $1.76 a gallon. Heating oil rose 2 cents to $1.65 a gallon. Natural gas slid 2 cents to $3.24 per 1,000 cubic feet.

Among metals, gold finished down $3.40 at $1,253.90. Silver lost 24 cents to $17.92 an ounce. Copper declined 4 cents to $2.60 a pound.

In currency trading, the dollar fell to 110.94 yen from 111.15 yen late Friday. The euro strengthened to $1.0596 from $1.0588.


----------



## bigdog

Source: http://finance.yahoo.com . . . . . . .
. . . . . . . . .
 *The NYSE DOW closed  LOWER ▼ -6.72 points or ▼ -0.03% on Tuesday, April 11, 2017 *
* Symbol …........Last …......Change....... . * . . . . 
 Dow_Jones 20,651.30 ▼ -6.72 ▼ -0.03% . 
 Nasdaq____ 5,866.77 ▼ -14.15 ▼ -0.24% . 
 S&P_500___ 2,353.78 ▼ -3.38 ▼ -0.14% . 
 30_Yr_Bond____ 2.93 ▼ -0.06 ▼ -1.94% . 
. . . . . . . . .
NYSE Volume          3,098,688,750 . . . . . . .
Nasdaq Volume          1,820,574,880 . . . . . . .
. . . . . . . . .
 *Europe . . . . . . *
* Symbol... .....Last ….....Change....... *       . 
 FTSE_100 7,365.50 ▲ 16.56 ▲ 0.23% . 
 DAX_____ 12,139.35 ▼ -61.17 ▼ -0.50% . 
 CAC_40__ 5,101.86 ▼ -5.58 ▼ -0.11% . 
. . . . . . . . .
 *Asia Pacific . . . . . . *
* Symbol...... ….......Last .....Change…...... * . . . . 
 ASX_All_Ord___ 5,964.60 ▲ 15.70 ▲ 0.26% . 
 Shanghai_Comp 3,288.97 ▲ 19.57 ▲ 0.60% . 
 Taiwan_Weight 9,832.42 ▼ -50.12 ▼ -0.51% . 
 Nikkei_225___ 18,747.87 ▼ -50.01 ▼ -0.27% . 
 Hang_Seng.__ 24,088.46 ▼ -173.72 ▼ -0.72% . 
 Strait_Times.__ 3,174.75 ▼ -6.70 ▼ -0.21% . 
 NZX_50_Index_ 7,254.38 ▲ 15.52 ▲ 0.21% . 
 




http://finance.yahoo.com/news/us-stock-indexes-slip-early-143413319.html

*US stock indexes end little changed; oil price recovers*





ALEX VEIGA

The major U.S. stock indexes barely budged Tuesday on another day of mostly light trading ahead of the Easter holiday weekend.

Technology stocks declined the most, while real estate companies notched the biggest gains. Oil prices recovered after an early slide. Bond yields fell and the price of gold rose as investors kept an eye on rising geopolitical tensions.

"Heading into the holiday weekend, people are a little bit nervous to add on to their positions," said JJ Kinahan, chief market strategist at TD Ameritrade.

The Standard & Poor's 500 index fell 3.38 points, or 0.1 percent, to 2,353.78. The Dow Jones industrial average slipped 6.72 points, or 0.03 percent, to 20,651.30. The Nasdaq composite index slid 14.15 points, or 0.2 percent, to 5,866.77.

Small-company stocks bucked the downward trend. The Russell 2000 index rose 9.86 points, or 0.7 percent, to 1,376.95. Rising stocks outnumbered declining ones on the New York Stock Exchange.

Major indexes started off in the red early Tuesday and held their course the rest of the day as traders monitored the latest headlines on North Korea and Russia-U.S. relations.

North Korea said there could be "catastrophic consequences" after the U.S. ordered the USS Carl Vinson aircraft carrier and its battle group to waters off the Korean Peninsula. Nerves were already on edge with U.S.-South Korea war games underway, following recent ballistic missile launches by the North that have rattled neighboring countries.

Meanwhile, U.S. Secretary of State Rex Tillerson was in Moscow to meet with Russian officials about the Syria civil war.

Wall Street's so-called "fear index," known as the VIX, surged 7.3 percent to its highest level since November. Government bonds also reflected growing unease among investors. The yield on the benchmark U.S. 10-year note fell to 2.30 percent from 2.36 percent late Monday. As bond prices rise, yields drop.

And gold, often sought out by investors in times of global uncertainty, rose $20.30, or 1.6 percent, to $1,274.20 an ounce.

"One of our predictions this year is we're going to have higher volatility," said Bob Doll, chief equity strategist at Nuveen Asset Management. "It's to be expected with all the economic uncertainties, all the geopolitical uncertainties."

A dash of favorable economic news failed to lift the market. The Labor Department reported that job openings rose 2.1 percent in February to a seasonally adjusted 5.7 million. Job openings have increased 3.2 percent over the past 12 months.

Weak forecasts from some companies weighed on the market.

MTS Systems slumped 13.2 percent after the maker of mechanical testing systems issued disappointing earnings and sales forecasts for the year. The stock shed $7.10 to $46.70.

Hub Group sank 14.2 percent after the transportation management company forecast weak first-quarter results, citing high truck capacity that's led to big price cuts. The stock lost $6.70 to $40.55.

The fallout from a video showing a United Continental passenger dragged off an overbooked flight in Chicago on Sunday continued to pull down the airline's shares. The stock slid 81 cents, or 1.1, to $70.71.

Investors cheered the latest batch of corporate deal news.

Supervalu climbed 5.5 percent after the supermarket chain agreed to buy grocery distributor Unified Grocers for $375 million, most of which will go to pay Unified Grocers' debt. Shares in Supervalu added 21 cents to $4.

RetailMeNot vaulted 48.4 percent after the online coupon company agreed to be acquired by payment and marketing company Harland Clark Holdings for $11.60 a share, or $555 million. RetailMeNot picked up $3.75 to $11.50.

Major stock indexes overseas were mixed.

In Europe, Germany's DAX fell 0.5 percent, while France's CAC 40 slipped 0.1 percent. Britain's FTSE 100 gained 0.2 percent. Earlier in Asia, Japan's Nikkei 225 stock index slipped 0.3 percent, while Hong Kong's Hang Seng sank 0.7 percent. South Korea's Kospi fell 0.4 percent. Australia's S&P ASX 200 gained 0.3 percent.

Rebounding from an early slide, benchmark crude oil rose 32 cents to close at $53.40 a barrel in New York, its sixth gain in a row. Brent crude, the standard for international oil prices, added 25 cents to close at $56.23 a barrel.

In other energy trading, wholesale gasoline was little changed at $1.76 a gallon. Heating oil also held steady at $1.65 a gallon. Natural gas slid 9 cents, or 2.7 percent, to $3.15 per 1,000 cubic feet.

Among metals, silver gained 34 cents, or 1.9 percent, to $18.25 an ounce. Copper was little changed at $2.61 a pound.

The dollar fell to 109.69 yen from 110.94 yen late Monday. The euro rose to $1.0608 from $1.0596.


----------



## bigdog

Source: http://finance.yahoo.com . . . . . . .
*U.S. markets will be closed Friday for the Good Friday holiday.*
. . . . . . . . .
 *The NYSE DOW closed  LOWER ▼ -59.44 points or ▼ -0.29% on Wednesday, April 12, 2017 
Symbol …........Last …......Change....... . * . . . . 
 Dow_Jones 20,591.86 ▼ -59.44 ▼ -0.29% . 
 Nasdaq____ 5,836.16 ▼ -30.61 ▼ -0.52% . 
 S&P_500___ 2,344.93 ▼ -8.85 ▼ -0.38% . 
 30_Yr_Bond____ 2.93 ▲ 0.00 ▲ 0.03% . 
. . . . . . . . .
NYSE Volume          3,196,490,000 . . . . . . .
Nasdaq Volume          1,660,857,750 . . . . . . .
. . . . . . . . .
 *Europe . . . . . . 
Symbol... .....Last ….....Change....... *       . 
 FTSE_100 7,348.99 ▼ -16.51 ▼ -0.22% . 
 DAX_____ 12,154.70 ▲ 15.35 ▲ 0.13% . 
 CAC_40__ 5,101.11 ▼ -0.74 ▼ -0.01% . 
. . . . . . . . .
 *Asia Pacific . . . . . . 
Symbol...... ….......Last .....Change…...... * . . . . 
 ASX_All_Ord___ 5,968.90 ▲ 4.30 ▲ 0.07% . 
 Shanghai_Comp 3,273.83 ▼ -15.14 ▼ -0.46% . 
 Taiwan_Weight 9,817.68 ▼ -14.74 ▼ -0.15% . 
 Nikkei_225___ 18,552.61 ▼ -195.26 ▼ -1.04% . 
 Hang_Seng.__ 24,313.50 ▲ 225.04 ▲ 0.93% . 
 Strait_Times.__ 3,186.01 ▲ 11.26 ▲ 0.35% . 
 NZX_50_Index_ 7,251.54 ▼ -2.84 ▼ -0.04% . 


http://www.wbrc.com/story/35132180/us-stock-indexes-post-modest-losses-bond-yields-slump

*US stock indexes post modest losses; bond yields slump*

By ALEX VEIGA
AP Business Writer 

Industrial and materials companies led U.S. stocks modestly lower Wednesday on another day of subdued trading ahead of the long Easter holiday weekend.

The slide marked the second decline in a row for the stock market, extending its losses for the month.

Energy stocks also fell as oil prices snapped a six-day winning streak. Utilities, phone companies and other high-dividend stocks were among the biggest gainers. Bond prices rose, sending yields lower.

"The market is kind of on hold until we start getting earnings reports and you start to read the body language on what managements are saying," said Thomas Martin, portfolio manager at GLOBALT Investments in Atlanta. "We're getting this slow churning really until we start getting some information."

The Standard & Poor's 500 index slid 8.85 points, or 0.4 percent, to 2,344.93. The Dow Jones industrial average fell 59.44 points, or 0.3 percent, to 20,591.86. The Nasdaq composite index lost 30.61 points, or 0.5 percent, to 5,836.16.

Small-company stocks did far worse than the rest of the market. The Russell 2000 index gave up 17.75 points, or 1.3 percent, to 1,359.20.

Twice as many stocks fell as rose on the New York Stock Exchange, while trading in declining stocks was 2.5 times as heavy as that of stocks that closed higher.

The yield on the benchmark U.S. 10-year note fell to 2.25 percent from 2.32 percent late Tuesday. That's its lowest yield since November.

"That's indicative of people, once more, taking that opinion of being risk-off, or not willing to make a bet that equity prices are going to be up because of higher earnings to be reported here for the first quarter," said Terry DuFrene, global investment specialist at J.P. Morgan Private Bank.

Companies are due to begin disclosing their latest quarterly results over the next few weeks, beginning on Thursday with several big banks.

Among the stocks that helped pull the market lower Tuesday was Tractor Supply, which sank 8.3 percent. The farm equipment retailer said sales of seasonal goods fell during the first quarter. The stock fell the most among companies in the S&P 500, shedding $5.86 to $64.61.

Industrials sector stocks were the biggest decliner in the S&P 500. Fastenal led the sector slide, tumbling 8 percent after the maker of industrial coatings and construction fasteners disclosed that its business was hurt by higher freight expenses and inventory costs. The stock lost $4.05 to $46.29.

Other laggards in the sector included United Rentals, which slid $4.80, or 3.8 percent, to $121.13, and Rockwell Automation, which shed $5.88, or 3.8 percent, to $150.23.

Investors bid up shares in Blackberry after arbitrators awarded the smartphone maker $814.9 million to resolve a dispute with Qualcomm over royalty overpayments. The stock gained $1.23, or 16 percent, to $8.93.

Major stock indexes overseas were mixed.

In Europe, Germany's DAX rose 0.1 percent, while France's CAC 40 dipped less than 0.1 percent. Britain's FTSE 100 fell 0.2 percent. Earlier in Asia, Japan's benchmark Nikkei 225 stock index slid 1 percent after the dollar fell under 110 yen for the first time in five months, pressuring the country's exporters. Hong Kong's Hang Seng reversed its losses in the final hour of trading, rising 0.9 percent. South Korea's Kospi climbed 0.2 percent.

Benchmark U.S. crude snapped a six-day winning streak, losing 29 cents to close at $53.11 a barrel in New York. Brent crude, the standard for international oil prices, fell 37 cents to close at $55.86 a barrel in London.

In other energy trading, wholesale gasoline dipped 2 cents to $1.74 a gallon. Heating oil held steady at $1.65 a gallon. Natural gas rose 4 cents, or 1.2 percent, to $3.19 per 1,000 cubic feet.

Among metals, gold rose $3.90 to $1,278.10 an ounce. Silver gained 5 cents to $18.30 an ounce. Copper fell 6 cents to $2.55 a pound.

The dollar had been losing ground much of the day, but recovered by midafternoon. By late afternoon, however, the U.S. currency took a sharp turn lower after President Donald Trump said in an interview with The Wall Street Journal that the dollar was "getting too strong."

In late trading, the dollar weakened to 109.10 yen, down from 109.69 yen late Tuesday. The euro strengthened to $1.0669 from $1.0608.

U.S. markets will be closed Friday for the Good Friday holiday.


----------



## bigdog

Source: http://finance.yahoo.com . . . . . . .
*U.S. markets will be closed Friday for the Good Friday holiday*
. . . . . . . . .
 *The NYSE DOW closed  LOWER ▼ -138.61 points or ▼ -0.67% on Thursday, April 13, 2017 
Symbol …........Last …......Change....... . * . . . . 
 Dow_Jones 20,453.25 ▼ -138.61 ▼ -0.67% . 
 Nasdaq____ 5,805.15 ▼ -31.01 ▼ -0.53% . 
 S&P_500___ 2,328.95 ▼ -15.98 ▼ -0.68% . 
 30_Yr_Bond____ 2.89 ▼ -0.04 ▼ -1.43% . 
. . . . . . . . .
NYSE Volume          3,142,564,000 . . . . . . .
Nasdaq Volume          1,591,966,250 . . . . . . .
. . . . . . . . .
 *Europe . . . . . . 
Symbol... .....Last ….....Change....... *       . 
 FTSE_100 7,327.59 ▼ -21.40 ▼ -0.29% . 
 DAX_____ 12,109.00 ▼ -45.70 ▼ -0.38% . 
 CAC_40__ 5,071.10 ▼ -30.01 ▼ -0.59% . 
. . . . . . . . .
 *Asia Pacific . . . . . . 
Symbol...... ….......Last .....Change…...... * . . . . 
 ASX_All_Ord___ 5,925.90 ▼ -43.00 ▼ -0.72% . 
 Shanghai_Comp 3,275.96 ▲ 2.13 ▲ 0.07% . 
 Taiwan_Weight 9,836.68 ▲ 19.00 ▲ 0.19% . 
 Nikkei_225___ 18,426.84 ▼ -125.77 ▼ -0.68% . 
 Hang_Seng.__ 24,261.66 ▼ -51.84 ▼ -0.21% . 
 Strait_Times.__ 3,169.24 ▼ -16.77 ▼ -0.53% . 
 NZX_50_Index_ 7,229.80 ▼ -21.74 ▼ -0.30% . 

http://finance.yahoo.com/news/us-stock-indexes-edge-higher-142513001.html

*US stocks close lower for third time in 3 days*





ALEX VEIGA

Investors were in a selling mood at the end of a mostly subdued week of trading, sending U.S. stocks lower for the third day in a row Thursday.

Energy stocks led the broad decline, which gathered momentum in the final hour of trading ahead of the long Easter holiday weekend. The slide marked the lowest close for the stock market since Feb. 13 and came on a day when several major banks reported their latest quarterly results, kicking off the company earnings season.

Traders also weighed the potential for rising geopolitical tensions following news that the U.S. attacked an Islamic State tunnel complex in eastern Afghanistan with the largest non-nuclear weapon ever used in combat by the U.S. military.

Bond yields continued to drop. Gold surged to its highest level since early November. The weakened versus the yen and euro.

"Investors have plenty of reasons to be cautious and have become more cautious in recent weeks," said Erik Davidson, chief investment officer at Wells Fargo Private Bank. "The market had a great run and it just hasn't been given a lot of reasons for much follow-through on that."

The Standard & Poor's 500 index slid 15.98 points, or 0.7 percent, to 2,328.95. The Dow Jones industrial average fell 138.61 points, or 0.7 percent, to 20,453.25. The Nasdaq composite index lost 31.01 points, or 0.5 percent, to 5,805.15.

Small-company stocks fell more than the rest of the market. The Russell 2000 index lost 13.96 points, or 1 percent, to 1,345.24. More stocks fell than rose on the New York Stock Exchange.

The decline deepened the market's losses for the month.

Bond prices edged higher. The yield on the benchmark U.S. 10-year note fell to 2.23 percent from 2.24 percent late Wednesday.

Gold, often sought out by investors in times of global uncertainty, climbed $10.40 to $1,288.50 an ounce.

Oil prices inched higher as traders shrugged off a report by the International Energy Agency said that demand growth for oil will slow for a second consecutive year this year.

Benchmark U.S. crude rose 7 cents to close at $53.18 per barrel in New York. Brent crude, used to price international oils, added 3 cents to close at $55.89 per barrel in London.

Even so, energy stocks fell sharply, led by Chesapeake Energy. The stock was the biggest decliner in the S&P 500, shedding 26 cents, or 4.2 percent, to $5.89.

After a week of mostly subdued trading without major new economic data or company news, investors got a look at the first batch of big bank earnings Thursday.

Several banks reported better-than-expected results thanks to improved revenue from trading and rising interest rates. That gave the stocks a boost early on, but their gains faded.

Citigroup slipped 47 cents to $58.04, while JPMorgan Chase shed $1, or 1.2 percent, to $84.40. PNC Financial Services slid 20 cents to $115.80.

"A lot of investors were looking through the earnings releases today and trying to get a sense of demand for loans, and I don't think they're liking what they're seeing," Davidson said.

Wells Fargo gave up 3.3 percent after Warren Buffett's Berkshire Hathaway sold some of its stock in the lender to avoid being designated a bank holding company. Wells also reported flat quarterly earnings, reflecting continuing struggles to recover from its sales practice scandal. The stock lost $1.77 to $51.35.

Pier 1 Imports' latest quarterly results failed to impress investors.

The company's shares slumped 9.1 percent after the home decor retailer reported disappointing sales. The stock slid 66 cents to $6.59.

U.S. Steel fell 5.9 percent as investors weighed the impact of a wastewater spill at one of the company's steel plants in northern Indiana. Federal officials were waiting for the results of tests aimed at determining whether a potentially carcinogenic chemical entered Lake Michigan during the wastewater spill on Tuesday. The company's shares were off $1.84 to $29.42.

Major stock indexes overseas closed mostly lower.

In Europe, Germany's DAX slid 0.4 percent, while France's CAC-40 shed 0.6 percent. London's FTSE-100 lost 0.3 percent. In Asia, Tokyo's Nikkei 225 fell 0.7 percent and Sydney's S&P-ASX 200 lost 0.7 percent. Hong Kong's Hang Seng slid 0.2 percent after a report showed China's export growth accelerated in March, while import growth cooled. Seoul's Kospi added 0.9 percent.

The dollar continued to weaken a day after President Donald Trump said in an interview with The Wall Street Journal that the dollar was "getting too strong" and that he won't declare China a currency manipulator.

The remarks helped push the yen to its highest level since mid-November, just after the presidential election. The dollar slid to 109.16 yen from 109.71 yen late Wednesday. The euro strengthened to $1.0612 from $1.0598.

In other energy trading, wholesale gasoline dipped 1 cent to $1.73 a gallon. Heating oil held steady at $1.65 a gallon. Natural gas rose 4 cents, or 1.3 percent, to $3.23 per 1,000 cubic feet.

Among metals, silver gained 21 cents to $18.51 an ounce. Copper added 3 cents to $2.57 a pound.

U.S. markets will be closed Friday for the Good Friday holiday.


----------



## bigdog

Source: http://finance.yahoo.com . . . . . . .
. . . . . . . . .
 *The NYSE DOW closed  HIGHER ▲ 183.67 points or ▲ 0.90% on Monday, April 17, 2017 
Symbol …........Last …......Change....... . * . . . . 
 Dow_Jones 20,636.92 ▲ 183.67 ▲ 0.90% . 
 Nasdaq____ 5,856.79 ▲ 51.64 ▲ 0.89% . 
 S&P_500___ 2,349.01 ▲ 20.06 ▲ 0.86% . 
 30_Yr_Bond____ 2.91 ▲ 0.03 ▲ 0.87% . 
. . . . . . . . .
NYSE Volume          2,822,782,750 . . . . . . .
Nasdaq Volume          1,370,933,250 . . . . . . .
. . . . . . . . .
 *Europe . . . . . . 
Symbol... .....Last ….....Change....... *       . 
 FTSE_100 7,327.59 ▲ 0.00 ▲ 0.00% . 
 DAX_____ 12,109.00 ▼ -45.70 ▼ -0.38% . 
 CAC_40__ 5,071.10 ▼ -30.01 ▼ -0.59% . 
. . . . . . . . .
 *Asia Pacific . . . . . . 
Symbol...... ….......Last .....Change…...... * . . . . 
 ASX_All_Ord___ 5,925.90 ▼ -43.00 ▼ -0.72% . 
 Shanghai_Comp 3,222.17 ▼ -23.90 ▼ -0.74% . 
 Taiwan_Weight 9,716.40 ▼ -16.53 ▼ -0.17% . 
 Nikkei_225___ 18,355.26 ▲ 19.63 ▲ 0.11% . 
 Hang_Seng.__ 24,261.66 ▼ -51.84 ▼ -0.21% . 
 Strait_Times.__ 3,138.30 ▼ -30.94 ▼ -0.98% . 
 NZX_50_Index_ 7,229.80 ▼ -21.74 ▼ -0.30% . 

http://finance.yahoo.com/news/us-stocks-start-higher-led-142024488.html

NEW YORK (AP) — U.S. stocks bounced back from recent losses Monday after the Chinese government said that country's economy grew at a slightly faster pace in the first quarter. Banks jumped as interest rates recovered.

After losses in three of the last four weeks, stocks had their best day in more than a month. The largest gains went to industries that would benefit the most from faster global economic growth.

Among banks, the leaders included M&T Bank, which became the latest financial company to report strong first-quarter results. Technology companies were led by chipmaker Nvidia and Google parent company Alphabet, while online retail giant Amazon and streaming video company Netflix also made large gains.

"It was good news to see a positive number coming out of the world's second-largest economy," said Quincy Krosby, market strategist at Prudential Financial. "It was the strongest GDP reading in six quarters, and much of it was based on their infrastructure spending and also the housing market."

The Standard & Poor's 500 index climbed 20.06 points, or 0.9 percent, to 2,349.01. The Dow Jones industrial average rose 183.67 points, or 0.9 percent, to 20,636.92. The Nasdaq composite jumped 51.64 points, or 0.9 percent, to 5,856.79. The Russell 2000 index of smaller-company stocks soared 15.94 points, or 1.2 percent, to 1,361.18.

China's recovering economy grew another 6.9 percent in the first quarter. In 2016 it grew at its slowest pace in almost 30 years, and the government spent more money on construction of infrastructure such as roads and bridges in response. Relatively cheap credit also boosted property sales.

Medical device maker Alere surged after it accepted a modified buyout offer from Abbott Laboratories. Abbott agreed to buy Alere for $56 per share, or $5.8 billion, more than a year ago. But it filed a lawsuit to end the deal after Alere recalled a key product, delayed filing a financial statement, and faced a Justice Department investigation into its business outside the U.S.

Under the new agreement Abbott will pay $51 a share, or about $5.3 billion, and Alere climbed $6.74, or 15.9 percent, to $49.05. It had traded as low as $31.47 last July, as investors worried the deal would fall apart after news of the investigation broke. Abbott rose 64 cents, or 1.5 percent, to $43.31.

Arconic jumped after the company said Chairman and CEO Klaus Kleinfeld agreed to step down after the board of directors discovered that he sent a letter to Arconic's largest shareholder, activist investment firm Elliott Management, without telling the board. Arconic said that was "poor judgment." It didn't say what Kleinfeld wrote in the letter.

Arconic makes aluminum, titanium and nickel parts for planes, cars and electronics. It was spun off from aluminum company Alcoa last year. Elliott has been pushing the company to replace Kleinfeld. The stock gained 79 cents, or 3.1 percent, to $26.69.

Bond prices slipped. The yield on the 10-year Treasury note rose to 2.25 percent from 2.24 percent. Banks are the worst-performing part of the market recently thanks to sharp declines in bond yields and interest rates.

Wireless spectrum license company Straight Path Communications climbed after it said it might get a new buyout offer. A week ago it agreed to be bought by AT&T for about $1.25 billion. Straight Path said it was contacted by another company Thursday. Straight Path stock rose $19.86, or 21.7 percent, to $111.56. Investors are now valuing the company at $1.39 billion.

Eli Lilly and Incyte stumbled after the Food and Drug Administration refused to approve Olumiant, a pill for the immune disorder rheumatoid arthritis. The companies may have to run more studies of the drug, which could further delay its approval and force them to spend more.

Lilly has high hopes for Olumiant because it's a pill while most other new rheumatoid arthritis drugs are injections. Lilly lost $3.50, or 4.1 percent, to $82.38 and Incyte sank $14.77, or 10.5 percent, to $126.07.

Pretzel, nuts and salty snack maker Snyder's-Lance tumbled $6.16, or 15.4 percent, to $33.76 after it gave a weak first-quarter forecast that included more spending on marketing and lower profit margins and then slashed its forecast for the year.

Netflix climbed 3 percent to $147.25 Monday, but slumped 1.5 percent in aftermarket trading as it didn't gain as many subscribers in the first quarter as investors hoped. Its profit guidance also fell short of analyst estimates.

Benchmark U.S. crude lost 53 cents, or 1 percent, to $52.65 a barrel in New York. Brent crude, used to price international oils, fell 53 cents to $55.36 per barrel in London. Energy companies lagged the rest of the market.

Wholesale gasoline slipped 2 cents to $1.72 a gallon. Heating oil fell 2 cents to $1.63 a gallon. Natural gas decreased 6 cents, or 2 percent, to $3.16 per 1,000 cubic feet.

Gold rose $3.40 to $1,291.90 an ounce. Silver remained at $18.51 an ounce. Copper picked up 3 cents to $2.60 a pound.

The dollar fell to 108.59 yen from 109.16 yen. The euro rose to $1.0642 from $1.0612.

Markets in Hong Kong, France, Germany and Britain were all closed for the Easter holiday. In Japan the Nikkei 225 index gained 0.1 percent and South Korea's Kospi added 0.5 percent.


----------



## bigdog

Source: http://finance.yahoo.com . . . . . . .
. . . . . . . . .
 *The NYSE DOW closed  LOWER ▼ -113.64 points or ▼ -0.55% on Tuesday, April 18, 2017 
Symbol …........Last …......Change....... . * . . . . 
 Dow_Jones 20,523.28 ▼ -113.64 ▼ -0.55% . 
 Nasdaq____ 5,849.47 ▼ -7.32 ▼ -0.12% . 
 S&P_500___ 2,342.19 ▼ -6.82 ▼ -0.29% . 
 30_Yr_Bond____ 2.84 ▼ -0.07 ▼ -2.44% . 
. . . . . . . . .
NYSE Volume          3,270,265,500 . . . . . . .
Nasdaq Volume          1,619,326,500 . . . . . . .
. . . . . . . . .
 *Europe . . . . . . 
Symbol... .....Last ….....Change....... *       . 
 FTSE_100 7,147.50 ▼ -180.09 ▼ -2.46% . 
 DAX_____ 12,000.44 ▼ -108.56 ▼ -0.90% . 
 CAC_40__ 4,990.25 ▼ -80.85 ▼ -1.59% . 
. . . . . . . . .
 *Asia Pacific . . . . . . 
Symbol...... ….......Last .....Change…...... * . . . . 
 ASX_All_Ord___ 5,868.70 ▼ -57.20 ▼ -0.97% . 
 Shanghai_Comp 3,196.71 ▼ -25.45 ▼ -0.79% . 
 Taiwan_Weight 9,746.56 ▲ 30.16 ▲ 0.31% . 
 Nikkei_225___ 18,418.59 ▲ 63.33 ▲ 0.35% . 
 Hang_Seng.__ 23,924.54 ▼ -337.12 ▼ -1.39% . 
 Strait_Times.__ 3,137.54 ▼ -0.76 ▼ -0.02% . 
 NZX_50_Index_ 7,233.61 ▲ 3.81 ▲ 0.05% . 


http://finance.yahoo.com/news/sharp-losses-banks-health-care-142119823.html

*Johnson & Johnson, Goldman sneeze and stocks catch a cold*





MARLEY JAY

NEW YORK (AP) — U.S. stocks fell Tuesday after weak first-quarter reports from Johnson & Johnson and Goldman Sachs frustrated investors who hope that company earnings are on the rise. Health care companies lost the most.

Wall Street has high hopes for company earnings this spring, and weak results from the world's largest health care products company and one of the biggest financial firms had them concerned. Johnson & Johnson took its biggest one-day loss in a year. Investors also looked for safety after the British government called for a surprise early election next month. Bond prices and the pound rose and European stock indexes tumbled.

Kate Warne, an investment strategist for Edward Jones, said Goldman Sachs and Johnson & Johnson had a dramatic effect on stocks because investors expect a very strong round of company earnings reports this month. According to S&P Global Markets Intelligence, investors expect first-quarter earnings for S&P 500 companies to rise almost 10 percent compared to last year. That would be the biggest jump since 2014.

"The reason it's so important is that the stronger growth is likely to support higher stock prices even in the absence of pro-growth policies from the Trump administration," she said.

The Standard & Poor's 500 index shed 6.82 points, or 0.3 percent, to 2,342.19. The Dow Jones industrial average lost 113.64 points, or 0.6 percent, to 20,523.28. Goldman Sachs was responsible for most of that loss.

The Nasdaq composite fell 7.32 points, or 0.1 percent, to 5,849.47. The Russell 2000 index of small-company stocks recovered from an early loss and rose 0.71 points, close to 0.1 percent, to 1,361.89.

On Monday stocks made their biggest gain in six weeks. But over the last few weeks they've mostly drifted lower while bond yields have fallen to five-month lows.

Johnson & Johnson stumbled after investors were disappointed with its sales. Revenue from its biggest-selling drug, the Crohn's disease treatment Remicade, fell 6 percent. Meanwhile growth for many consumer health products slowed, and payers demanded bigger rebates on treatments for cardiovascular ailments, diabetes, and primary care products.

The maker of Tylenol and Band-Aids lost $3.90, or 3.1 percent, to $121.82.

Prescription drug distributor Cardinal Health also dropped after it gave weak profit forecasts for this year and next as drug prices continue to fall. It will also pay $6.1 billion to buy a group of businesses from medical device maker Medtronic. Cardinal Health sank $9.44, or 11.5 percent, to $72.39. Competitors AmerisourceBergen and McKesson each fell about 5 percent.

Goldman Sachs' revenue fell short of investor projections in the first quarter as its highly-regarded trading desks didn't perform as well as their competitors. The stock gave up $10.6, or 4.7 percent, to $215.59, its biggest loss since June. The stock reached all-time highs above $250 a share in March.

British Prime Minister Theresa May reversed her position by calling for an early general election in June. May formally triggered Britain's exit from the European Union last month and she intends to seek a stronger parliamentary mandate. The pound climbed after May's announcement on the hope that the election will result in May getting a better deal for Britain in its talks with the EU. It rose to $1.2848 from $1.2563.

European stocks fell, as the vote creates even more political uncertainty in Europe days before the first round of French presidential voting. Polls don't give a clear edge to any of the four leading candidates ahead of Sunday's vote. The top two will advance to a May 7 runoff and investors are unsettled by the chance that either of the far-left or far-right candidates could pull off a victory. Britain's FTSE 100 dropped 2.5 percent and France's CAC 40 lost 1.6 percent. In Germany the DAX shed 0.9 percent.

As investors snapped up government bonds, their prices jumped. The yield on the 10-year Treasury note fell to 2.18 percent, its lowest since Nov. 11. It finished at 2.25 percent Monday.

Investors also bought shares of companies that pay big dividends. Household goods makers like Kraft Heinz and Molson Coors, along with utilities, real estate investment trusts and phone companies finished higher.

Streaming video company Netflix sagged after it didn't gain as many subscribers in the first quarter as investors hoped. Its second-quarter profit guidance also fell short of analyst estimates. Netflix lost $3.89, or 2.6 percent, to $143.36.

U.S. crude oil futures lost 24 cents to $52.41 a barrel in New York. Brent crude, used to price international oils, lost 47 cents to $54.89 per barrel in London.

Wholesale gasoline fell 1 cent to $1.71 a gallon and heating oil dipped 1 cent to $1.62 a gallon. Natural gas lost 2 cents to $3.15 per 1,000 cubic feet.

Gold rose $2.20 to $1,294.10 an ounce. Silver skidded 24 cents, or 1.3 percent, to $18.27 an ounce. Copper fell 7 cents, or 2.6 percent, to $2.53 a pound.

The dollar slipped to 108.42 yen from 108.59 yen. The euro rose to $1.0730 from $1.0642.

The benchmark Nikkei 225 index in Japan added 0.4 percent while South Korea's Kospi edged up 0.1 percent to 2,148.46. The Hang Seng of Hong Kong shed 1.4 percent.


----------



## bigdog

Source: http://finance.yahoo.com . . . . . . .
. . . . . . . . .
 *The NYSE DOW closed  LOWER ▼ -118.79 points or ▼ -0.58% on Wednesday, April 19, 2017 *
* Symbol …........Last …......Change....... . * . . . . 
 Dow_Jones 20,404.49 ▼ -118.79 ▼ -0.58% . 
 Nasdaq____ 5,863.03 ▲ 13.56 ▲ 0.23% . 
 S&P_500___ 2,338.17 ▼ -4.02 ▼ -0.17% . 
 30_Yr_Bond____ 2.86 ▲ 0.02 ▲ 0.67% . 
. . . . . . . . .
NYSE Volume          3,519,993,500 . . . . . . .
Nasdaq Volume          1,766,834,380 . . . . . . .
. . . . . . . . .
 *Europe . . . . . . *
* Symbol... .....Last ….....Change....... *       . 
 FTSE_100 7,114.36 ▼ -33.14 ▼ -0.46% . 
 DAX_____ 12,016.45 ▲ 16.01 ▲ 0.13% . 
 CAC_40__ 5,003.73 ▲ 13.48 ▲ 0.27% . 
. . . . . . . . .
 *Asia Pacific . . . . . . *
* Symbol...... ….......Last .....Change…...... * . . . . 
 ASX_All_Ord___ 5,839.90 ▼ -28.80 ▼ -0.49% . 
 Shanghai_Comp 3,170.69 ▼ -26.03 ▼ -0.81% . 
 Taiwan_Weight 9,639.94 ▼ -106.62 ▼ -1.09% . 
 Nikkei_225___ 18,432.20 ▲ 13.61 ▲ 0.07% . 
 Hang_Seng.__ 23,825.88 ▼ -98.66 ▼ -0.41% . 
 Strait_Times.__ 3,126.28 ▼ -11.26 ▼ -0.36% . 
 NZX_50_Index_ 7,218.51 ▼ -15.10 ▼ -0.21% . 
 
http://finance.yahoo.com/news/us-stocks-start-bounce-back-led-gains-banks-142011580.html

*Wage worries sink stocks late; energy sector and IBM skid*






MARLEY JAY

NEW YORK (AP) — U.S. stocks gave up a promising start and finished mostly lower Wednesday as investors continued to worry about lagging wages and energy companies dropped with the price of oil.

Stocks climbed early on as a solid quarter from Morgan Stanley revived optimism about banks, and strong results from auto and industrial parts distributor Genuine Parts sent car makers and suppliers higher.

The gains began to fade around noon as oil prices and energy companies sagged. The losses accelerated after the mid-afternoon release of the Federal Reserve's "Beige Book" survey of economic conditions.

The Fed said economic growth continued from mid-March into early April and pay improved for some workers. But investors have been wondering when rising statistics like consumer confidence will start to turn into better pay and greater spending.

"Show me where those numbers are translating into something more than just feelings," said Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management. "People are looking for evidence that these confidence numbers are translating into actual actions and the Beige Book showed that over the last couple of months it's been more of the same."

The Standard & Poor's 500 index finished down 4.02 points, or 0.2 percent, at 2,338.17. It rose as much as 10 points, or 0.4 percent, earlier. The Dow lost 118.79 points, or 0.6 percent, to 20,404.49. Half of the blue-chip index's losses came from IBM, which reported weaker-than-expected sales in the first quarter.

The Nasdaq composite rose 13.56 points, or 0.2 percent, to 5,863.03 as health care companies climbed. And there were signs of optimism about the economy as well. The Russell 2000 index, which is made up of smaller companies that tend to be more U.S.-focused, added 5.24 points, or 0.4 percent, to 1,367.13 after a late gain a day ago.

Oil prices slumped after the Energy Information Administration said U.S. crude inventories didn't shrink as much as investors hoped they would last week, and the EIA says the stockpiles are larger than normal for this time of year. Benchmark U.S. crude lost $1.97, or 3.8 percent, to $50.44 a barrel in New York. Brent crude, used to price international oils, fell $1.96, or 3.6 percent, to $52.93 per barrel in London.

All 34 energy companies on the S&P 500 finished lower. Chevron $1.45, or 1.4 percent, to $104.23 and Marathon Oil sank 68 cents, or 4.3 percent, to $15.06.

Schutte, of Northwestern Mutual Wealth Management, said faster wage growth will show up eventually even if monthly and quarterly reports are uneven. As wages rise and people spend more money, he thinks the economy will keep growing.

"The consumer is in a very good place from a debt-to-asset standpoint," he said, after reducing debt in recent years. "When they get wage increases, they're more likely to spend those in the future than to save them."

Schutte said that will ultimately help the stock market more than any of President Donald Trump's proposed pro-growth policies would.

Technology and consulting company IBM slumped after it reported $18.16 billion in revenue in the first quarter, and according to FactSet, that was more than $200 million below analysts' estimates. IBM stock fell $8.36, or 4.9 percent, to $161.69. It was the second day in a row that a weak report from a single company pulled the Dow sharply lower, as Goldman Sachs did the same on Tuesday.

Bond prices fell, reversing most of their gains from a day earlier. The yield on the 10-year Treasury note rose to 2.21 percent from 2.17 percent. That hurt high-dividend payers including utilities and household goods companies. FirstEnergy shed 62 cents, or 2 percent, to $30.85 and beauty products retailer Coty surrendered 42 cents, or 2.3 percent, to $17.99.

Genuine Parts raised its profit forecast for the year, although it acknowledged its U.S. business has been weak. Its stock jumped $1.77 percent, to 2 percent, to $91.91. Genuine Parts, along with car makers, used car sellers, and retailers of auto parts and tires plunged earlier this month after automakers reported disappointing March sales. Some investors felt that was a warning sign about spending by consumers.

Robotic surgery system maker Intuitive Surgical climbed after its profit and revenue came out ahead of analysts' projections. The company said shipments of its da Vinci device and surgeries performed with it both jumped. The stock rose $48.60, or 6.4 percent, to $807.95 and it helped health care companies climb higher.

In other energy trading, wholesale gasoline fell 5 cents, or 3 percent, to $1.66 a gallon. Heating oil lost 4 cents, or 2.5 percent, to $1.58 a gallon. Natural gas rose 4 cents to $3.19 per 1,000 cubic feet.

The price of gold, which has climbed steadily in recent weeks, fell $10.70 to $1,283.40 an ounce. Silver lost 11 cents to $18.16 an ounce. Copper added 1 cent to $2.53 a pound.

The dollar rose to 108.70 yen from 108.42 yen. The euro edged down to $1.0721 from $1.0730.

British stocks continued to fall. The FTSE 100 slid 0.5 percent after a 2.5-percent plunge on Tuesday. Other major European indexes recovered modestly. In France the CAC-40 gained 0.3 percent and Germany's DAX edged up 0.1 percent. In Japan the Nikkei 225 edged up 0.1 percent and the South Korean Kospi shed 0.5 percent. Hong Kong's Hang Seng index fell 0.4 percent.


----------



## bigdog

Source: http://finance.yahoo.com . . . . . . .
. . . . . . . . .
 *The NYSE DOW closed  HIGHER ▲ 174.22 points or ▲ 0.85% on Thursday, April 20, 2017 
Symbol …........Last …......Change....... . * . . . . 
 Dow_Jones 20,578.71 ▲ 174.22 ▲ 0.85% . 
 Nasdaq____ 5,916.78 ▲ 53.74 ▲ 0.92% . 
 S&P_500___ 2,355.84 ▲ 17.67 ▲ 0.76% . 
 30_Yr_Bond____ 2.89 ▲ 0.03 ▲ 1.05% . 
. . . . . . . . .
NYSE Volume          3,648,416,750 . . . . . . .
Nasdaq Volume          1,756,432,880 . . . . . . .
. . . . . . . . .
 *Europe . . . . . . 
Symbol... .....Last ….....Change....... *       . 
 FTSE_100 7,118.54 ▲ 4.18 ▲ 0.06% . 
 DAX_____ 12,027.32 ▲ 10.87 ▲ 0.09% . 
 CAC_40__ 5,077.91 ▲ 74.18 ▲ 1.48% . 
. . . . . . . . .
 *Asia Pacific . . . . . . 
Symbol...... ….......Last .....Change…...... * . . . . 
 ASX_All_Ord___ 5,854.40 ▲ 14.50 ▲ 0.25% . 
 Shanghai_Comp 3,172.10 ▲ 1.41 ▲ 0.04% . 
 Taiwan_Weight 9,632.69 ▼ -7.25 ▼ -0.08% . 
 Nikkei_225___ 18,430.49 ▼ -1.71 ▼ -0.01% . 
 Hang_Seng.__ 24,056.98 ▲ 231.10 ▲ 0.97% . 
 Strait_Times.__ 3,137.88 ▲ 11.60 ▲ 0.37% . 

http://finance.yahoo.com/news/gains...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*US stocks rally again as banks and industrial companies rise*





MARLEY JAY

NEW YORK (AP) — U.S. stocks climbed Thursday as industrial companies, banks, technology and materials firms and energy companies all rallied. A strong day of corporate results left investors feeling better about the economy.

For more than a week investors have been poring through company earnings for signs the economy is growing at a faster pace, and on Thursday they felt they found it. Railroad operator CSX gave transportation companies like railroads and airlines a big boost while Sherwin-Williams raised its annual projections and helped basic materials makers go higher.

It's still early in this round of earnings reports and a few high-profile companies have disappointed Wall Street this week, so stocks have wobbled recently. But for the most part experts and investors are encouraged by what they're hearing. They say companies feel good about the economy and expect stronger growth and bigger profits.

"The major takeaway so far to earnings season is the CEOs are still saying we're poised for growth," said J.J. Kinahan, chief market strategist at TD Ameritrade. "Last quarter was sort of the first time we heard this theme."

The Standard & Poor's 500 index advanced 17.67 points, or 0.8 percent, to 2,355.84. The Dow Jones industrial average rose 174.22 points, or 0.9 percent, to 20,578.81.

The Nasdaq composite gained 53.74 points, or 0.9 percent, to an all-time high of 5,916.78. The Russell 2000 index of smaller-company stocks added 17.02 points, or 1.2 percent, to 1,384.15.

American Express had a solid first quarter as its credit card members spent more and kept bigger balances on their cards. The stock gained $4.47, or 5.9 percent, to $80.02. SLM, the parent of the student lender Sallie Mae, reported much stronger revenue than expected and its stock climbed $1.17, or 10.1 percent, to $12.70. Citizens Financial rose $1.05, or 3.1 percent, to $35.27 after its report.

"The banks are the shining star" so far, Kinahan said, although he speculated that Goldman Sachs had a down quarter because it's lost several top executives to the Trump administration.

Railroad company CSX announced a bigger profit and more revenue than Wall Street expected in the first quarter. CSX also said restructuring and spending cuts will increase its profit by about 25 percent this year. The company is cutting jobs and reorganizing after it hired Hunter Harrison, former head of Canadian Pacific, as its new CEO last month. The company also said it will buy back more stock and raise its dividend. CSX stock jumped $2.65, or 5.6 percent, to $49.58.

Railroads and transportation companies like trucking companies and airlines rose. Industrial companies were among the top performers Thursday.

Sherwin-Williams raised its profit guidance for the year as paint sales jumped and prices increased. The stock added $12.48, or 4 percent, to $324.02. That helped basic materials companies. So did steel maker Nucor, which rose $2.73, or 4.7 percent, to $60.35 after its first-quarter results were stronger than expected.

Verizon dipped 53 cents, or 1.1 percent, to $48.41 as it lost wireless cellphone subscribers and its profit dropped 20 percent. That helped push other telecom companies lower.

Other stocks that pay big dividends also fell. Utilities, companies that make and sell household goods, and real estate investment trusts also declined as bond yields rose. That made the stocks less appealing to investors seeking income.

Bond prices fell further. The yield on the 10-year Treasury note rose to 2.23 percent from 2.22 percent.

Equipment rental company United Rentals flopped after its sales fell far short of expectations. The company said rental rates are still somewhat weak, and its stock lost $6.21, or 5.2 percent, to $113.24.

Energy prices wobbled and finished lower. Benchmark U.S. crude slipped 17 cents to $50.27 a barrel in New York while Brent crude, the international standard, rose 6 cents to $52.99 a barrel. However energy companies climbed higher. They stumbled Wednesday as the price of U.S. crude sank 3.8 percent.

State and federal authorities sued Ocwen Financial and said the mortgage lender botched the handling of millions of accounts. The Consumer Financial Protection Bureau said Ocwen generated errors in borrowers' accounts, failed to credit payments, illegally foreclosed on homeowners, and charged borrowers for products without their consent.

Ocwen is one of the nation's largest non-bank mortgage lenders, focusing mostly on subprime and delinquent mortgages. Its stock plunged $2.91, or 53.9 percent, to $2.49 in heavy trading.

In other energy trading, wholesale gasoline rose 1 cent to $1.67 a gallon. Heating oil was flat at $1.58 a gallon. Natural gas fell 3 cents to $3.16 per 1,000 cubic feet.

Gold rose 40 cents to $1,283.80 an ounce. Silver lost 14 cents to $18.02 an ounce. Copper rose 1 cent to $2.54 a pound.

The dollar rose to 109.31 yen from 108.70 yen. The euro inched up to $1.0722 from $1.0721.

Paris' CAC 40 jumped 1.5 percent as traders bet on a growing likelihood of a victory for centrist Emmanuel Macron in the upcoming presidential election. Polls have long showed a tight race between four candidates ahead of the first round of voting Sunday.

The DAX in Germany and the FTSE 100 of Britain both added 0.1 percent. The benchmark Nikkei 225 in Japan finished little changed and the Kospi in South Korea rose 0.5 percent. Hong Kong's Hang Seng index climbed 0.9 percent.


----------



## bigdog

Source: http://finance.yahoo.com . . . . . . .
. . . . . . . . .
 *The NYSE DOW closed , April 21, 2017 *
* Symbol …........Last …......Change....... . * . . . . 
 Dow_Jones 20547.76 -30.95 ▼ -.015% 
 Nasdaq____ 5,910.52 ▼ -6.26 ▼ -0.11% . 
 S&P_500___ 2,348.69 ▼ -7.15 ▼ -0.30% . 
 30_Yr_Bond____ 2.90 ▲ 0.00 ▲ 0.14% . 
. . . . . . . . .
NYSE Volume          3,502,123,000 . . . . . . .
Nasdaq Volume          1,728,191,000 . . . . . . .
. . . . . . . . .
 *Europe . . . . . . *
* Symbol... .....Last ….....Change....... *       . 
 FTSE_100 7,114.55 ▼ -3.99 ▼ -0.06% . 
 DAX_____ 12,048.57 ▲ 21.25 ▲ 0.18% . 
 CAC_40__ 5,059.20 ▼ -18.71 ▼ -0.37% . 
. . . . . . . . .
 *Asia Pacific . . . . . . *
* Symbol...... ….......Last .....Change…...... * . . . . 
 ASX_All_Ord___ 5,885.60 ▲ 31.20 ▲ 0.53% . 
 Shanghai_Comp 3,173.15 ▲ 1.05 ▲ 0.03% . 
 Taiwan_Weight 9,717.41 ▲ 84.72 ▲ 0.88% . 
 Nikkei_225___ 18,620.75 ▲ 190.26 ▲ 1.03% . 
 Hang_Seng.__ 24,042.02 ▼ -14.96 ▼ -0.06% . 
 Strait_Times.__ 3,139.83 ▲ 1.95 ▲ 0.06% . 
 NZX_50_Index_ 7,197.22 ▲ 9.17 ▲ 0.13% . 
 
http://finance.yahoo.com/news/us-stocks-meander-energy-companies-144112531.html

*Losses for finance, health care companies send stocks lower*





MARLEY JAY

NEW YORK (AP) — U.S. stocks slumped Friday as financial and health care companies moved lower. Industrial companies rose as stocks continued the up-and-down pattern they've been stuck in for the last month.

Stocks slumped in morning trading as banks fell in tandem with bond yields and interest rates and energy companies sank with oil prices.

Strong results from Honeywell and aviation electronics maker Rockwell Collins helped industrial firms. Toy maker Mattel plunged after it reported is second disappointing quarter in a row. Stocks climbed in the final minutes of trading and left the Standard & Poor's 500 index 1 percent higher for the week.

President Donald Trump gave the market a fleeting boost in the afternoon when he said his administration will release a tax reform proposal next week that includes a large tax cut. He didn't provide details.

"I don't think anything's actually going to happen or be implemented any time soon," said Scott Wren, senior global equity strategist for the Wells Fargo Investment Institute. He said he thinks a corporate tax cut is more likely to pass Congress and become law than a tax cut for individuals, and added that he wants the administration to focus on moves that can keep the economy growing.

The Standard & Poor's 500 index lost 7.15 points, or 0.3 percent, to 2,348.69. The Dow Jones industrial average dipped 30.95 points, or 0.2 percent, to 20,547.76. The Nasdaq composite fell 6.26 points, or 0.1 percent, to 5,910.52. The Russell 2000 index of smaller-company stocks fell 4.30 points, or 0.3 percent, to 1,379.85.

Financial companies fell. Professional services firm Marsh & McLennan skidded $1.41, or 1.9 percent, to $71.88 and wealth management company Morgan Stanley dipped 70 cents, or 1.6 percent, to $41.80. Bank of America fell 36 cents, or 1.6 percent, to $22.7.

Bond prices rose early on but wound up little changed. The yield on the 10-year Treasury note remained at 2.24 percent.

Health care companies moved lower. Biotech drugmaker Alexion Pharmaceuticals lost $1.90, or 1.6 percent, to $116.82 and Merck declined 66 cents, or 1.1 percent, to $61.89. Pharmacy benefits manager Express Scripts dipped 59 cents to $66.46.

Stocks did well this week, but they've wandered up and down over the last few weeks. That may persist. Next Friday the government will release its report on first-quarter GDP growth, something investors pay a lot of attention to. On the same day, the federal government is scheduled to reach its borrowing limit, which could trigger a government shutdown unless Congress agrees to extend it.

"The stock market's been willing to wait to see what, if anything, comes out of Washington," said Wells Fargo's Wren. He adds that stock prices aren't too high even though they've been breaking records lately.

Next week the market may also react to the first round of voting in the French presidential election. Polls between the top four candidates are fairly close, and a good showing by far-right candidate Marine Le Pen or leftist Jean-Luc Melenchon, as opposed to their more centrist rivals, could unsettle investors. The top two candidates will advance to a final round of voting in early May.

Mattel, the largest toy company in the U.S., said its sales dropped 15 percent in the fiscal first quarter as it continued to deal with effects of poor sales over the holiday season. The company's revenue totaled $735.6 million, which was $67 million less than expected, according to FactSet. The stock lost $3.42, or 13.6 percent, to $21.79.

Mattel also took a steep loss after it reported its fourth-quarter results. Its stock is down 21 percent this year.

Benchmark U.S. crude shed $1.09, or 2.1 percent, to $49.62 a barrel in New York. Brent crude, used to price international oils, fell $1.03, or 1.9 percent, to $51.96 a barrel in London.

Schlumberger, the world's biggest oilfield services company, fell after it reported less revenue than analysts had forecast. The company said revenue in China, Russia and the North Sea fell more than it had expected. The stock gave up $1.67, or 2.2 percent, to $74.84 and competitors Halliburton and Baker Hughes both fell, too.

Honeywell's profit and sales were better than expected, and the industrial conglomerate raised its profit projection for the year. The stock jumped $3.31, or 2.7 percent, to $127.08. Aviation electronics company Rockwell Collins raised its profit and sales forecasts after its $8.6 billion purchase of former competitor B/E Aerospace. Its stock rose $5.11, or 5.1 percent, to $104.70.

In other energy trading, wholesale gasoline lost 3 cents to $1.64 a gallon and heating oil fell 3 cents to $1.55 a gallon. Natural gas gave up 6 cents to $3.10 per 1,000 cubic feet.

Gold rose $5.30 to $1,289.10 an ounce. Silver lost 16 cents to $17.86 an ounce. Copper remained at $2.54 a pound.

The dollar dipped to 109.21 yen from 109.31 yen. The euro fell to $1.0695 from $1.0722.

France's CAC-40 retreated 0.4 percent after a big gain Thursday. Germany's DAX gained 0.2 percent and the British FTSE 100 lost 0.1 percent. The Nikkei 225 in Tokyo gained just over 1 percent and the Kospi in South Korea added 0.7 percent. Hong Kong's Hang Seng shed 0.1 percent.


----------



## bigdog

*MS EXCEL HAS SCREWED UP MY 97 EXCEL .XLS FILES BECAUSE OF COMPATIBILTY.  *

*HOW DO I TURN COMPATIBILITY OFF FOR ALL EXCEL FILES?*

*I NEED THE SEPARATE "SHEETS" IN EXCELTO PASTE AND COPY*


Dow Jones Industrial Average          20,763.89  +216.13   +1.05%
NASDAQ Composite                            5,983.82       +73.3   +1.24%
S&P 500                                              2,374.15     +25.46   +1.08%

Treasury Yield 30 Years                              2.93      + 0.03    +1.11%

Volume in 000's                             3,682,407.50
Volume in 000's                             1,846,260.25

FTSE 100                                             7,264.68       +150.13   +2.11%
DAX                                                   12,454.98       +406.41   +3.37%
CAC 40                                                5,268.85      + 209.65  +4.14%
ALL ORDINARIES                                 5,900.70           +15.1   + 0.26%
SSE Composite Index                         3,129.53           -43.62   -1.37%
TSEC weighted index                          9,717.95           + 0.54  +0.01%
Nikkei  225                                        18,875.88        +255.13  +1.37%
HANG SENG INDEX                            24,139.48           +97.46   +0.41%
STI Index                                            3,144.03               +4.2   +0.13%
S&P/NZX 50 INDEX GROSS                  7,222.94           +25.72 + 0.36%

http://finance.yahoo.com/news/us-stocks-global-markets-higher-141553269.html

*Magnifique: Investors applaud French vote with stock rally*




STAN CHOE

NEW YORK (AP) — Vive le rally.

U.S. stocks joined a worldwide surge higher Monday after the first round of France's presidential election raised expectations that the European Union will hold together. A candidate seen as pro-business won the most votes Sunday, and many investors expect him to win a runoff against the remaining anti-EU candidate, which is set for May 7.

Prices for gold, Treasurys and other investments that signal fear in the market all sank, while a popular gauge for measuring investor fear eased by the biggest margin since the summer of 2011.

"It's good news, and now investors have a reason to focus on the fundamentals in Europe, which are strong," said Luca Paolini, chief strategist at Pictet Asset Management, a U.K.-based firm that manages $165 billion in client assets.

The Standard & Poor's 500 index jumped 25.46 points, or 1.1 percent, to 2,374.15. The Dow Jones industrial average rose 216.13, or 1.1 percent, to 20,763.89, and the Nasdaq composite gained 73.30, or 1.2 percent, to 5,983.82.

Coming into Sunday's election in France, several candidates railed against the European Union, one of the world's dominant trading partners. A victory for one of those candidates would have followed the path set by last year's "Brexit" vote by Britain to exit the European Union and the U.S. election of President Donald Trump as a kick in the face to the globalist, free-trade worldview.

Emmanuel Macron, a candidate investors see as pro-business, ended up winning the most votes. He will face Marine Le Pen in a runoff election in two weeks. Le Pen is one of the candidates who campaigned against the European Union, but many investors expect Macron ultimately to be victorious.

"It's not only France" where the forces of populism seem to be waning, said Paolini. He pointed to the Dutch elections last month, where a candidate who ran on the pledge to pull the Netherlands from the European Union, lost.

"This surge is fading," Paolini said. "Maybe it's too early too early to celebrate, but that's what the market is pricing in."

Risks remain: Not only is there the runoff election for France in two weeks, but there is also a parliamentary election in June. And other elections may loom even larger for the future of the European Union, such as next year's Italian vote, Paolini said.

On Monday, though, relief reigned. France's CAC 40 index jumped 4.1 percent and at one point touched its highest level since 2008. Germany's DAX gained 3.4 percent, and the FTSE 100 in London rose 2.1 percent.

Asian markets also rose. Japan's Nikkei 225 index climbed 1.4 percent, and Hong Kong's Hang Seng and South Korea's Kospi indexes both added 0.4 percent.

In the U.S., the VIX index that many investors see as a measure of the market's fear level plunged 25 percent. That's its largest drop since the summer of 2011 when worries were intense that Europe's debt crisis could lead the union to unravel.

Demand for other investments that investors flock to when they're fearful also fell. The price of gold fell $11.60 to settle at $1,277.50 per ounce.

Prices for Treasury bonds dropped, which sent yields higher. The yield on the 10-year Treasury climbed to 2.27 percent from 2.25 percent late Friday.

Any rise in bond yields recently has fed into immediate gains for bank stocks, because higher rates mean banks can charge more for loans, and Monday fit the pattern again.

Financial stocks in the S&P 500 jumped 2.2 percent, by far the biggest gain among the 11 sectors that make up the index. Bank of America surged 4.1 percent, and SunTrust Banks gained 3.6 percent.

Strong earnings reports also helped to lift stocks, as companies continue to report better results than expected. Analysts forecast this to be the best quarter of earnings growth in years.

Hasbro jumped $5.67, or 5.9 percent, to $101.70 after reporting stronger quarterly revenue and profits than analysts had forecast. Illinois Tool Works rose $4.89, or 3.6 percent, to $139.76 after also surprising analysts with a better-than-expected quarter.

In the commodities market, benchmark U.S. crude oil fell 39 cents to settle at $49.23 per barrel. Brent crude, which is used to price international oils, fell 36 cents to $51.60 per barrel. Natural gas fell 3.5 cents to $3.07 per 1,000 cubic feet, heating oil fell a penny to $1.54 per gallon and wholesale gasoline dropped 2 cents to $1.62 a gallon. Silver was virtually flat at $17.86 per ounce and copper added 1.5 cents to $2.55 per pound.

With expectations strengthening that the shared European economy will remain intact, the foreign-exchange market saw the value of the euro rise to $1.0858 from $1.0695 late Friday.

The dollar climbed to 109.79 Japanese yen from 109.21, and the British pound slipped to $1.2789 from $1.2795.


----------



## bigdog

Source: http://finance.yahoo.com . . . . . . . .
. . . . . . . . . .
 *The NYSE DOW closed  HIGHER ▲ 232.23 points or ▲ 1.12% on Tuesday, April 25, 2017 . *
* Symbol …........Last …......Change....... . * . . . . . 
 Dow_Jones 20,996.12 ▲ 232.23 ▲ 1.12% . . 
 Nasdaq____ 6,025.49 ▲ 41.67 ▲ 0.70% . . 
 S&P_500___ 2,388.61 ▲ 14.46 ▲ 0.61% . . 
 30_Yr_Bond____ 2.98 ▲ 0.05 ▲ 1.78% . . 
. . . . . . . . . .
NYSE Volume          3,967,626,500 . . . . . . . .
Nasdaq Volume          1,898,595,750 . . . . . . . .
. . . . . . . . . .
 *Europe . . . . . . . *
* Symbol... .....Last ….....Change....... *       . . 
 FTSE_100 7,275.64 ▲ 10.96 ▲ 0.15% . . 
 DAX_____ 12,467.04 ▲ 12.06 ▲ 0.10% . . 
 CAC_40__ 5,277.88 ▲ 9.03 ▲ 0.17% . . 
. . . . . . . . . .
 *Asia Pacific . . . . . . . *
* Symbol...... ….......Last .....Change…...... * . . . . . 
 ASX_All_Ord___ 5,900.70 ▲ 15.10 ▲ 0.26% . Holiday 
 Shanghai_Comp 3,134.57 ▲ 5.04 ▲ 0.16% . . 
 Taiwan_Weight 9,841.71 ▲ 123.76 ▲ 1.27% . . 
 Nikkei_225___ 19,079.33 ▲ 203.45 ▲ 1.08% . . 
 Hang_Seng.__ 24,455.94 ▲ 316.46 ▲ 1.31% . . 
 Strait_Times.__ 3,163.93 ▲ 19.90 ▲ 0.63% . . 
 NZX_50_Index_ 7,222.94 ▲ 25.72 ▲ 0.36% . Holiday 


http://finance.yahoo.com/news/healt...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Healthy profits push stocks higher yet; Nasdaq crosses 6,000*





STAN CHOE

NEW YORK (AP) — Profits are climbing for companies, and so are their stock prices.

More big businesses joined the earnings parade Tuesday, saying their profits were even larger in the first three months of the year than analysts were expecting, including Caterpillar and McDonald's. The encouraging reports pushed U.S. indexes to their second straight day of big gains, placing them either close to or firmly in record territory.

The Standard & Poor's 500 index rose 14.46 points, or 0.6 percent, to 2,388.61. It's within a third of a percent of its all-time high, set at the start of March.

The Dow Jones industrial average gained even more due to the big jumps for Caterpillar and McDonald's, which are among the 30 stocks in the average. The Dow rose 232.23 points, or 1.1 percent, to 20,996.12.

The Nasdaq rose 41.67, or 0.7 percent, to 6,025.49, its first move above 6,000 points. The Russell 2000 of smaller-company stocks was up 13.13 points, or 0.9 percent, at 1,411.08.

"Earnings have come through quite nicely so far," said Ernie Cecilia, chief investment officer at Bryn Mawr Trust. "They're beating forecasts, the numbers have been quite good and this is now the second consecutive quarter that's happened."

After struggling for years with a slow global economy and weak oil prices, big U.S. businesses are in the midst of reporting their best quarter of profit growth in years, analysts say.

Companies in the S&P 500 are on track to report overall growth of about 10 percent in first-quarter earnings per share, according to S&P Global Market Intelligence. This is a particularly busy week, with more than a third of the companies in the S&P 500 scheduled to unveil their first-quarter results.

Many investors say strong profit reports are necessary to justify the big gains stocks have made. Stock prices in recent years have been climbing faster than earnings, which has led skeptics to call the market overly pricey.

Caterpillar soared $7.61, or 7.9 percent, to $104.42 after reporting stronger revenue and profits for the first quarter than analysts expected. It also raised its forecast for full-year results.

And it wasn't the only big industrial company to cite signs of optimism among customers. 3M said sales improved in all its markets around the world, while reporting stronger quarterly earnings than expected.

Such encouraging talk about the economy's strength raises hopes that revenues and profits can keep rising for companies, which could rein in worries about stocks being expensive.

McDonald's jumped $7.47, or 5.6 percent, to $141.70 after likewise surprising investors with better-than-expected results. New items on its menu helped it to drive sales at its U.S. restaurants.

Ryder System was among the relatively few stocks to fall on Tuesday. It lost $11.00, or 13.9 percent, to $68.28 after weaker-than-expected rental demand pushed it to report lower quarterly results than analysts had forecast.

Slightly more than two stocks rose for every one that fell on the New York Stock Exchange.

Even with so many corporate earnings reports on the docket, politics is still at center stage for stocks as well.

Global markets added to big gains made on Monday, when markets soared after results from the first round of France's presidential election raised expectations that the European Union and the euro currency will remain intact.

In Europe, France's CAC 40 rose 0.2 percent and reached its highest closing level since 2008. Germany's DAX rose 0.1 percent, and the FTSE 100 in London rose 0.2 percent. In Asia, Japan's Nikkei 225 index climbed 1.1 percent, South Korea's Kospi gained 1.1 percent and the Hang Seng in Honk Kong jumped 1.3 percent.

In the U.S., one of the main reasons for the stock market's strong ascent since November is excitement about the prospect for lower taxes for businesses.

President Donald Trump is expected to unveil details of his tax plan on Wednesday, including a cut in the corporate tax rate to 15 percent from 35 percent.

Investors, though, have grown more skeptical about the ability for Republicans in Washington to push through big change following their stumbles in overhauling the nation's health care system. If a corporate tax cut does occur, it would likely help lift companies' profits — and stock prices — even further.

In the commodities market, the price of gold fell $10.30 to settle at $1,267.20 per ounce, silver dropped 27 cents to $17.59 per ounce and copper added 3 cents to $2.58 per pound.

Benchmark U.S. crude oil rose 33 cents to $49.56 per barrel. Brent crude, which is used to price international oils, rose 50 cents to $52.10 per barrel. Natural gas fell 2 cents to $3.04 per 1,000 cubic feet, heating oil inched up a fraction of a penny to $1.55 per gallon and wholesale gasoline was close to flat at $1.62 per gallon.

The euro rose to $1.0939 from $1.0858 late Monday. The dollar rose to 111.09 Japanese yen from 109.79, and the British pound rose to $1.2830 from $1.2789.

Interest rates continued to climb from the low they set in the middle of the month. The yield on the 10-year Treasury rose to 2.33 percent from 2.27 percent late Monday. It was 2.17 percent a week ago.


----------



## bigdog

Source: http://finance.yahoo.com . . . . . . . .
. . . . . . . . . .
 *The NYSE DOW closed  LOWER ▼ -21.03 points or ▼ -0.10% on Wednesday, April 26, 2017 . 
Symbol …........Last …......Change....... . * . . . . . 
 Dow_Jones 20,975.09 ▼ -21.03 ▼ -0.10% . . 
 Nasdaq____ 6,025.23 ▼ -0.27 ▲ 0.00% . . 
 S&P_500___ 2,387.45 ▼ -1.16 ▼ -0.05% . . 
 30_Yr_Bond____ 2.97 ▼ -0.01 ▼ -0.27% . . 
. . . . . . . . . .
NYSE Volume          4,105,284,500 . . . . . . . .
Nasdaq Volume          1,878,078,120 . . . . . . . .
. . . . . . . . . .
 *Europe . . . . . . . 
Symbol... .....Last ….....Change....... *       . . 
 FTSE_100 7,288.72 ▲ 13.08 ▲ 0.18% . . 
 DAX_____ 12,472.80 ▲ 5.76 ▲ 0.05% . . 
 CAC_40__ 5,287.88 ▲ 10.00 ▲ 0.19% . . 
. . . . . . . . . .
 *Asia Pacific . . . . . . . 
Symbol...... ….......Last .....Change…...... * . . . . . 
 ASX_All_Ord___ 5,936.80 ▲ 36.10 ▲ 0.61% . . 
 Shanghai_Comp 3,140.85 ▲ 6.28 ▲ 0.20% . . 
 Taiwan_Weight 9,856.45 ▲ 14.74 ▲ 0.15% . . 
 Nikkei_225___ 19,289.43 ▲ 210.10 ▲ 1.10% . . 
 Hang_Seng.__ 24,578.43 ▲ 122.49 ▲ 0.50% . . 
 Strait_Times.__ 3,173.76 ▲ 9.83 ▲ 0.31% . . 
 NZX_50_Index_ 7,335.13 ▲ 112.19 ▲ 155.00% . . 

http://finance.yahoo.com/news/stocks-hold-steady-ahead-tax-140527198.html

*Stock indexes wobble as White House unveils tax plan*





Stan Choe, AP Business Writer

NEW YORK (AP) -- Stock indexes wobbled between modest gains and losses Wednesday, as the White House unveiled broad outlines of its plan to slash tax rates but left many of the details to be determined.

Anticipation for a big tax cut, along with looser regulations on businesses, have been two of the main drivers behind the stock market's surge since November, when Republicans swept into Washington. The White House delivered a big number Wednesday, when officials said they hope to cut the top corporate tax rate to 15 percent from 35 percent.

But many specifics are still to be negotiated, such as how much it will affect the government's budget deficit, and they will need to be hammered out with Congress. That left investors questioning exactly how much benefit will flow through to corporate profits, and how much stock prices should climb beyond what they already have.

"Tax reform will be good, but a lot of that has already been priced into the market," said David MacEwen, co-chief investment officer for American Century Investments.

The Standard & Poor's 500 index slipped by 1.16 points, or less than 0.1 percent, to 2,387.45. It had briefly climbed above its record closing level of 2,395.96 earlier in the day, only to give up its gains in the last minutes of trading.

The Dow Jones industrial average lost 21.03 points, or 0.1 percent, to 20,975.09, and the Nasdaq composite slipped 0.27 points, or less than 0.1 percent, to 6,025.23. Stocks of smaller companies did better, with the Russell 2000 index of small-caps rising 8.35, or 0.6 percent, to 1,419.43.

The proposal for a 15 percent corporate tax rate is likely just an opening salvo, and negotiations with Congress may push that figure higher, analysts said. Any corporate tax cut would help boost profits for businesses, which would help justify the 11.6 percent surge for the S&P 500 since Election Day. Some investors are worried stocks have grown too expensive because prices have climbed faster than corporate profits.

MacEwen said several elements of the tax proposal would be beneficial, including how foreign profits would be treated, but what Washington ultimately gets approved may fall short of the stock market's expectations. Also still uncertain is how much the final proposal would boost the economy, which would drive profits further and justify yet more stock price gains.

Of course, tax policy isn't the only thing pushing stocks higher, MacEwen said. Businesses are in the midst of reporting their profits for the first three months of the year, and they've largely been better than expected. Analysts expect this to be the strongest quarter of growth in years.

Edwards Lifesciences jumped to the largest gain in the S&P 500 Wednesday after it reported stronger revenue and profit for the latest quarter than analysts expected. The company also raised its profit forecast for the year. Its stock jumped $10.38, or 10.5 percent, to $109.30.

Wynn Resorts rose $6.97, or 5.9 percent, to $125.19 after reporting revenue and profits that topped expectations. The company saw stronger revenue from its Las Vegas casino, as well as its new Macau resort, which opened in August.

On the losing end Wednesday was U.S. Steel, which reported a loss for the first quarter and cut its profit forecast for the year. Its stock sank $8.33, or 26.85 percent, to $22.78.

Seagate Technology, a maker of hard drives and other data storage products, fell $8.50, or 16.8 percent, to $42.01 after reporting weaker revenue for the latest quarter than analysts expected. Its profit nevertheless topped expectations.

In European stock markets, the French CAC 40 rose 0.2 percent, the FTSE 100 in London added 0.2 percent and the German DAX was close to flat. In Asia, the Japanese Nikkei 225 jumped 1.1 percent, the South Korean Kospi rose 0.5 percent and Hong Kong's Hang Seng added 0.5 percent.

Benchmark U.S. crude oil rose 6 cents to settle at $49.62 a barrel. Brent crude, which is used to price international oils, fell 28 cents to $51.82.

Natural gas rose 10 cents to $3.14 per 1,000 cubic feet, wholesale gasoline fell 3 cents to $1.59 per gallon and heating oil fell 1 cent to $1.54 per gallon.

Gold fell $3 to $1,264.20 per ounce, silver lost 23 cents to $17.36 and copper rose 1 cent to $2.59 per pound.

The euro slipped to $1.0899 from $1.0939 late Tuesday, while the dollar rose to 111.38 Japanese yen from 111.09 yen. The British pound rose to $1.2843 from $1.2830.

U.S. government bond prices rose. The yield on the 10-year Treasury note slipped to 2.30 percent from 2.34 percent late Tuesday.


----------



## bigdog

Source: http://finance.yahoo.com . . . . . . . .
. . . . . . . . . .
 *The NYSE DOW closed  HIGHER ▲ 0.0003 points or ▲ 0.00% on Thursday, April 27, 2017 . 
Symbol …........Last …......Change....... . * . . . . . 
 Dow Jones Industrial Average 20,981.33 ▲ 6.24 ▲ 0.03% . . 
 Nasdaq____ 6,048.94 ▲ 23.71 ▲ 0.39% . . 
 S&P_500___ 2,388.77 ▲ 1.32 ▲ 0.06% . . 
 30_Yr_Bond____ 2.97 ▼ -0.01 ▼ -0.20% . . 
. . . . . . . . . .
NYSE Volume          4,098,527,250 . . . . . . . .
Nasdaq Volume          1,858,481,880 . . . . . . . .
. . . . . . . . . .
 *Europe . . . . . . . 
Symbol... .....Last ….....Change....... *       . . 
 FTSE_100 7,237.17 ▼ -51.55 ▼ -0.71% . . 
 DAX_____ 12,443.79 ▼ -29.01 ▼ -0.23% . . 
 CAC_40__ 5,271.70 ▼ -16.18 ▼ -0.31% . . 
. . . . . . . . . .
 *Asia Pacific . . . . . . . 
Symbol...... ….......Last .....Change…...... * . . . . . 
 ASX_All_Ord___ 5,944.40 ▲ 7.60 ▲ 0.13% . . 
 Shanghai_Comp 3,152.19 ▲ 11.34 ▲ 0.36% . . 
 Taiwan_Weight 9,860.62 ▲ 4.17 ▲ 0.04% . . 
 Nikkei_225___ 19,251.87 ▼ -37.56 ▼ -0.19% . . 
 Hang_Seng.__ 24,698.48 ▲ 120.05 ▲ 0.00% . . 
 Strait_Times.__ 3,171.36 ▼ -2.40 ▼ -0.08% . . 
 NZX_50_Index_ 7,354.61 ▲ 19.48 ▲ 0.27% . . 

http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

*Nudge higher for US stocks enough to push Nasdaq to a record*





Stan Choe, AP Business Writer

NEW YORK (AP) -- U.S. stock indexes fluttered up and down Thursday, then ended the day a hair above where they started. The slight gains were enough to nudge the Nasdaq composite to another record and the Standard & Poor's 500 index to within a whisper of its all-time high.

It was the second straight day where indexes made only modest, meandering moves, a downshift from big gains made early in the week. The Standard & Poor's 500 index rose 1.32 points, or 0.1 percent, to 2,388.77 and is within a third of a percent of its record.

The Dow Jones industrial average added 6.24 points, less than 0.1 percent, to 20,981.33. The Nasdaq composite rose 23.71, or 0.4 percent, to 6,048.94 and reached a closing high for the third time in four days.

Gains by Under Armour, Comcast and other companies reporting stronger-than-expected profits on Thursday helped to offset a slump in energy stocks. The encouraging reports added to the lengthening list of companies saying they earned more in the first three months of 2017 than Wall Street had forecast. Analysts expect this to be the strongest quarter of growth in years.

The reports have helped lift stocks and temper concerns, at least a bit, that the market had grown too expensive.

"Expectations were high, and they needed to deliver, so thankfully they have delivered," said Nate Thooft, senior portfolio manager at Manulife Asset Management. "As long as earnings continue to follow through and economic data doesn't roll over materially, stocks can keep going. People will say that valuations are expensive, but I would say, 'Yeah, but not relative to fixed income.'"

Under Armour jumped to the biggest gain in the S&P 500 after reporting bigger profits than analysts expected. A rise in sales abroad, particularly in Asia, helped push its revenue to $1.12 billion from $1.05 billion in last year's first quarter. The company's A-class shares climbed $1.96, or 9.9 percent, to $21.67.

PayPal Holdings jumped $2.74, or 6.2 percent, to $47.15 after also reporting stronger revenue and earnings than Wall Street had forecast.

Comcast's A shares rose 80 cents, or 2.1 percent, to $39.59 after stronger revenue at theme parks it acquired as part of its NBCUniversal purchase helped it to report stronger first-quarter results than analysts expected.

Even some of the day's losers reported better-than-expected results. American Airlines fell $2.42, or 5.2 percent, to $43.98, for example. Investors were paying more attention to its plans to raise pay for pilots and flight attendants, which would erode future profits, than its earnings from the latest quarter.

Energy stocks were also weak, slumping with the price of oil. Benchmark U.S. crude dropped 65 cents, or 1.3 percent, to settle at $48.97 per barrel, while Brent crude, which is used to price international oils, fell 38 cents to $51.44 a barrel.

Noble Energy lost $1.59, or 4.7 percent, to $32.57, and offshore-drilling contractor Transocean fell 39 cents, or 3.4 percent, to $11.06.

The incremental moves made by stock indexes the last two days belie the many crosscurrents coursing through the market. Stocks jumped early in the week, in part on relief following the first round of France's presidential election. Results indicate France may not try to break apart from the European Union.

Washington is also a big factor. White House officials unveiled the broad outlines of a tax plan Wednesday, though many specifics are still to be determined. Expectations for lower taxes, plus less regulation for businesses, have helped drive stocks higher since November. A potential shutdown of the federal government also looms unless Congress can agree on a spending bill.

In European stock markets, the French CAC 40 fell 0.3 percent, the German DAX slipped 0.2 percent and the FTSE 100 in London dropped 0.7 percent. In Asia, the Nikkei 225 in Japan slipped 0.2 percent, South Korea's Kospi added 0.1 percent and the Hang Seng in Hong Kong rose 0.5 percent.

The price of gold rose $1.70 to settle at $1,265.90 an ounce, silver slipped 10 cents to $17.27 per ounce and copper fell a penny to $2.58 per pound.

Natural gas slipped 3 cents to settle at $3.24 per 1,000 cubic feet, heating oil fell 3 cents to $1.51 per gallon and wholesale gasoline dropped 4 cents to $1.55 per gallon.

The euro fell to $1.0882 from $1.0899 late Wednesday while the dollar slipped to 111.23 Japanese yen from 111.38 yen. The British pound rose to $1.2903 from $1.2843.

Treasury yields ticked lower as government bond prices rose. The 10-year Treasury yield edged down to 2.29 percent from 2.30 percent late Wednesday.


----------



## bigdog

Source: http://finance.yahoo.com . . . . . . . .
. . . . . . . . . .
 *The NYSE DOW closed  LOWER ▼ -40.82 points or ▼ -0.19% on Friday, April 28, 2017 . *
* Symbol …........Last …......Change....... . * . . . . . 
 Dow_Jones 20,940.51 ▼ -1.33 ▼ -0.19% . . 
 Nasdaq____ 6,047.61 ▼ -1.33 ▼ -0.02% . . 
 S&P_500___ 2,384.20 ▼ -4.57 ▼ -0.19% . . 
 30_Yr_Bond____ 2.95 ▼ -0.01 ▼ -0.44% . . 
. . . . . . . . . .
NYSE Volume          3,715,650,750 . . . . . . . .
Nasdaq Volume          1,994,893,620 . . . . . . . .
. . . . . . . . . .
 *Europe . . . . . . . *
* Symbol... .....Last ….....Change....... *       . . 
 FTSE_100 7,203.94 ▼ -33.23 ▼ -0.46% . . 
 DAX_____ 12,438.01 ▼ -5.78 ▼ -0.05% . . 
 CAC_40__ 5,267.33 ▼ -4.37 ▼ -0.08% . . 
. . . . . . . . . .
 *Asia Pacific . . . . . . . *
* Symbol...... ….......Last .....Change…...... * . . . . . 
 ASX_All_Ord___ 5,947.60 ▲ 3.20 ▲ 0.05% . . 
 Shanghai_Comp 3,154.66 ▲ 2.47 ▲ 0.08% . . 
 Taiwan_Weight 9,872.00 ▲ 11.38 ▲ 0.12% . . 
 Nikkei_225___ 19,196.74 ▼ -55.13 ▼ -0.29% . . 
 Hang_Seng.__ 24,615.13 ▼ -83.35 ▲ 0.00% . . 
 Strait_Times.__ 3,175.44 ▲ 4.08 ▲ 0.13% . . 
 NZX_50_Index_ 7,378.75 ▲ 24.14 ▲ 0.33% . . 

http://finance.yahoo.com/news/us-stock-indexes-veer-mostly-142305538.html

*US stocks close modestly lower, but end higher for the week*





ALEX VEIGA

U.S. stocks closed modestly lower Friday, ending just short of another milestone for Wall Street.

The Nasdaq composite index narrowly missed its fourth record-high close this week, though all the major indexes still notched weekly gains.

Phone companies, banks and materials stocks were among the big decliners. Technology stocks gained the most, while health care and energy also bucked the broader market slide. Crude oil prices rose.

Investors continued to focus on company earnings reports as they mine for insight into the health of Corporate America. So far, earnings have been mostly exceeding Wall Street's expectations. But an unimpressive report on economic growth in the first quarter may have given some traders pause Friday.

"The market is worried that the second quarter perhaps will see continued weakness, and that's part of the tug-of-war we're seeing in the market," said Quincy Krosby, market strategist at Prudential Financial. "Are we going to see the economy snapping out of this weak patch?"

The Standard & Poor's 500 index slipped 4.57 points, or 0.2 percent, to 2,384.20. The Dow Jones industrial average fell 40.82 points, or 0.2 percent, to 20,940.51. The Nasdaq composite lost 1.33 points, or 0.02 percent, to 6,047.61.

Small-company stocks fell more than the rest of the market. The Russell 2000 index gave back 16.70 points, or 1.2 percent, to 1,400.43. Three stocks fell for every two that rose on the New York Stock Exchange.

Bond prices edged higher. The 10-year Treasury yield slipped to 2.28 percent from 2.30 percent late Thursday.

The market started the week off on a strong note, in part reflecting relief following the first round of France's presidential election. Results suggest France may not try to break apart from the European Union.

Washington also helped move the market. On Wednesday, White House officials unveiled the broad outlines of a tax plan, stoking expectations of lower taxes, plus less regulation for businesses, policy proposals that have helped drive stocks higher since November.

On Friday, the major stock indexes were flat or down much of the day. Early on, investors weighed the government's initial estimate of economic growth in the first three months of the year.

The Labor Department said that the U.S. economy turned in its weakest performance in three years in the January-March quarter, reflecting a slowdown in consumer spending. Growth, as measured by gross domestic product, amounted to 0.7 percent in the first quarter. That was less than what economists were expecting and followed a gain of 2.1 percent in the final quarter of 2016.

Traders also continued to size up company earnings. A little more than half of the companies in the S&P 500 index have reported results for the January-March quarter. Some 55 percent of those turned in earnings and revenue that exceeded Wall Street's expectations, according to S&P Global Market Intelligence.

"Earnings have been topping expectations for the most part, but overall, the market is still nervous about growth and whether or not we're going to see a pickup in economic releases," Krosby said. "The market remains nervous about geopolitical risk and remains nervous about tax reform."

Investors bid up shares in companies that delivered better-than-expected results.

Google's parent company, Alphabet, gained 3.7 percent after the internet giant reported better-than-expected quarterly results thanks partly to a big jump in advertising revenue. The stock added $33.08 to $924.52.

Amazon.com rose 0.7 percent after the online retailer posted solid first-quarter results. The stock picked up $6.61 to $924.99.

Royal Caribbean Cruises gained 6.1 percent after the cruise line operator posted solid earnings and bookings. The stock added $6.10 to $106.60. Rival Carnival also rose, picking up 79 cents, or 1.3 percent, to $61.77.

Several companies slumped after they reported disappointing results.

Synchrony Financial tumbled 15.9 percent. The stock was the biggest decliner in the S&P 500, sliding $5.25 to $27.80.

Medical software and services company Athenahealth sank 19.3 percent as sales and margins weakened. The stock fell $23.44 to $98.01.

Starbucks lost 2 percent after the coffee chain's sales growth at established locations was weaker than expected. The company also posted fiscal second-quarter earnings that matched Wall Street's expectations. The stock shed $1.24 to $60.06.

Time Inc.'s decision not to sell itself sent the stock plummeting 16.9 percent. The magazine publisher's shares fell $3.10 to $15.20.

Major stock indexes overseas mostly closed lower.

In Europe, Germany's DAX was flat, while France's CAC 40 slipped 0.1 percent. London's FTSE 100 index lost 0.5 percent. In Asia, indexes mostly fell. Tokyo's Nikkei 225 lost 0.3 percent, while Hong Kong's Hang Seng declined 0.3 percent. Seoul's Kospi shed 0.2 percent.

Eurozone inflation data pushed the euro up sharply as it raised speculation that the central bank may not keep its stimulus program in place as long as expected. It was up to $1.0895 from $1.0882 on Thursday. The dollar strengthened to 111.44 yen from 111.23 yen.

Benchmark U.S. crude rose 36 cents, or 0.7 percent, to settle at $49.33 per barrel in New York. Brent crude, used to price international oils, climbed 29 cents, or 0.6 percent, to $51.73 a barrel in London. Home heating oil fell less than a penny to $1.50 a gallon, wholesale gasoline was little changed at $1.55 a gallon and natural gas rose 4 cents to $3.28 per 1,000 cubic feet.

In metals trading, gold rose $2.40 to settle at $1,268.30 an ounce, while silver slipped 7 cents to $17.19 per ounce. Copper gained 2 cents to $2.60 per pound.


5226.


----------



## bigdog

Source: http://finance.yahoo.com . . . . . . . .
. . . . . . . . . .
 *The NYSE DOW closed  LOWER ▼ -27.05 points or ▼ -0.13% on Monday, May 1, 2017 . *
* Symbol …........Last …......Change....... . * . . . . . 
 Dow_Jones 20,913.46 ▼ 44.00 ▼ -0.13% . . 
 Nasdaq____ 6,091.60 ▲ 44.00 ▲ 0.73% . . 
 S&P_500___ 2,388.33 ▲ 4.13 ▲ 0.17% . . 
 30_Yr_Bond____ 3.01 ▲ 0.06 ▲ 2.00% . . 
. . . . . . . . . .
NYSE Volume          3,199,374,000 . . . . . . . .
Nasdaq Volume          1,737,735,880 . . . . . . . .
. . . . . . . . . .
 *Europe . . . . . . . *
* Symbol... .....Last ….....Change....... *       . . 
 FTSE_100 7,203.94 ▼ -33.23 ▼ -0.46% . . 
 DAX_____ 12,438.01 ▼ -5.78 ▼ -0.05% . . 
 CAC_40__ 5,267.33 ▼ -4.37 ▼ -0.08% . . 
. . . . . . . . . .
 *Asia Pacific . . . . . . . *
* Symbol...... ….......Last .....Change…...... * . . . . . 
 ASX_All_Ord___ 5,976.40 ▲ 28.80 ▲ 0.48% . . 
 Shanghai_Comp 3,154.66 ▲ 2.47 ▲ 0.08% . . 
 Taiwan_Weight 9,872.00 ▲ 11.38 ▲ 0.12% . . 
 Nikkei_225___ 19,310.52 ▲ 113.78 ▲ 0.59% . . 
 Hang_Seng.__ 24,615.13 ▼ -83.35 ▼ -0.34% . . 
 Strait_Times.__ 3,175.44 ▲ 4.08 ▲ 0.13% . . 
 NZX_50_Index_ 7,382.22 ▲ 3.47 ▲ 0.05% . . 

https://uk.news.yahoo.com/us-stock-indexes-mixed-technology-companies-gain-141955111.html

*Technology companies and banks take stocks higher*





MARLEY JAY

NEW YORK (AP) — U.S. stocks rose Monday as big technology companies like Apple continued to rally. Investors bought stocks and sold bonds and gold after Congress agreed to a deal that will keep the government operating for the rest of the fiscal year.

Technology companies have set the pace all year and are up more than twice as much as the rest of the market. Apple and Facebook, which will report their first-quarter results in the next few days, helped lead the way.

Investors were relieved that the threat of a government shutdown appears to have been averted, so they bought riskier stocks and sold government bonds, gold, and high-dividend stocks. The VIX, an index that is seen as a measure of the market's anxiety level, fell to its lowest level since February 2007.

Technology companies and banks have stood out in the first quarter, said David Schiegoleit, the head of investments at U.S. Bank's Private Client Reserve. He said many different types of technology companies are doing well, especially ones that cater to consumers. A key reason is that after years of trouble, economies outside the U.S. are improving.

"Emerging market economies are starting to get better momentum and we're also starting to see some pretty decent activity out of Europe," he said. "All the different major components of the technology sector are posting double-digit (earnings) gains."

The Standard & Poor's 500 index picked up 4.13 points, or 0.2 percent, to 2,388.33. The Dow Jones industrial average lost 27.05 points, or 0.1 percent, to 20,913.46 as Boeing and IBM lagged.

Thanks to the gains for technology companies, the Nasdaq composite rose 44 points, or 0.7 percent, to 6,091.60, and set another record high. The Russell 2000 index of small-company stocks gained 6.93 points, or 0.5 percent, to 1,407.36.

Analysts expect first-quarter earnings for technology companies and banks to rise 19 percent from the same period a year earlier, according to S&P Global Market Intelligence. While most banks have already released their results, there are dozens of technology companies remaining to report.

Apple climbed $2.95, or 2.1 percent, to $146.60 and Facebook added $2.21, or 1.5 percent, to $152.46. Microsoft, which disclosed its earnings last week, rose 95 cents, or 1.4 percent, to $69.41.

Online retailer Amazon.com stood out among consumer-focused companies as it picked up $23.44, or 2.5 percent, to $948.43.

Before dawn on Monday, Congress unveiled a spending bill that would fund most government operations through September. The House is currently scheduled to vote on the bill Wednesday. The bill does not include the border wall President Donald Trump has proposed, and rejects his proposed cuts to popular domestic programs.

With investors reassured, they sold bonds. The yield on the 10-year Treasury note rose to 2.32 percent from 2.29 percent. That sent interest rates higher, which allows banks to charge higher interest rates on loans. Capital One Financial advanced $1.19, or 1.5 percent, at $81.57 and Citizens Financial rose 56 cents, or 1.5 percent, to $37.13.

Investors also sold high-dividend stocks including utilities, phone companies and makers of household goods.

Aerospace companies struggled after aircraft parts distributor Wesco Aircraft Holdings gave a weak second-quarter forecast. The company also said its president and CEO retired, and its stock tumbled $2.20, or 18.1 percent, to $9.95. Boeing fell $2.44, or 1.3 percent, to $182.39 and aircraft and helicopter maker Textron gave up 53 cents, or 1.1 percent, to $46.13.

Industrial companies lagged the rest of the market following a report that output by U.S. factories didn't grow as much as analysts expected. The Institute for Supply Management said new orders and hiring grew more slowly in April.

Tribune Media rose after the Financial Times reported that Twenty-First Century Fox and Blackstone may make a joint takeover bid for the company. Tribune Media has stakes in Food Network, WGN cable network and owns TV stations. Tribune stock gained $2.19, or 6 percent, to $38.75. The companies declined to comment. Sinclair Broadcast Group is also reported to be interested in buying Tribune.

Investment management company AllianceBernstein fell after it replaced Peter Kraus as chairman and CEO and removed most of the directors of its board. Kraus has led the company since 2008. The company named a new non-executive chairman and separate CEO, and removed nine of the 11 members of the board. It named six new directors. The stock gave up 75 cents, or 3.3 percent, to $22.15.

Benchmark U.S. crude fell 49 cents, or 1 percent, to $48.84 a barrel in New York. Brent crude, used to price international oils, declined 53 cents, or 1 percent, to $51.52 a barrel in London.

Wholesale gasoline lost 2 cents to $1.53 a gallon. Heating oil fell 2 cents to $1.49 a gallon. Natural gas dropped 6 cents to $3.22 per 1,000 cubic feet.

The price of gold fell $12.80, or 1 percent, to $1,255.50 an ounce. Silver fell 42 cents, or 2.4 percent, to $16.84 an ounce. Copper rose 5 cents, or 2 percent, to $2.66 a pound.

The dollar rose to 111.83 yen from 111.44 yen. The euro advanced to $1.0906 from $1.0895.

Many markets in Asia and Europe were closed for May Day. Japan's benchmark Nikkei 225 was an exception and it gained 0.6 percent. Stocks in Japan were helped by a weaker yen and strong readings in a manufacturing survey.


----------



## bigdog

http://hosted2.ap.org/APDEFAULT/f70...l Markets/id-71deb4d712aa4ed18eb7cffad11786b2

May. 2, 2017 5:00 PM ET
*Stocks scuffle as slowing auto sales worry Wall Street*
By MARLEY JAY, AP Markets Writer 

 

NEW YORK (AP) — Despite strong results from industrial companies, U.S. stocks couldn't get any momentum going Tuesday after car makers said their sales are shrinking.

Engine maker Cummins sent manufacturers and other industrial companies higher after reporting solid first-quarter earnings. A late slump took the price of oil to its lowest price in almost six months. Ford, General Motors and Fiat Chrysler all fell after they said sales declined in April.

Chris Zaccarelli, chief investment officer for Cornerstone Financial Partners, said auto sales have weakened because lenders are growing a bit hesitant to make loans to help people buy cars.

"It's more a story specific to the auto sector as opposed to a slowdown in consumer spending," he said.

Thanks to an upturn in the last few minutes of trading, the Standard & Poor's 500 index rose 2.84 points, or 0.1 percent, to 2,391.17. The Dow Jones industrial average added 36.43 points, or 0.2 percent, to 20,949.89. The Nasdaq composite set another record as it picked up 3.76 points, or 0.1 percent, to 6,095.37. The Russell 2000 index of small-company stocks sank 8 points, or 0.6 percent, to 1,399.36.

The six largest auto makers in the U.S. all said their sales fell in April. Vehicle sales have set records the last few years and analysts are worried the streak is ending and car companies are relying too much on discounts and incentives to keep their sales numbers high.

Ford lost 50 cents, or 4.4 percent, to $10.92 and GM gave up $1, or 2.9 percent, to $33.20 while Fiat Chrysler skidded 49 cents, or 4.3 percent, to $10.92. Car retailers, rental companies and parts suppliers slipped as well.

Industrial companies made some of the biggest gains. Cummins reported a far bigger profit and better sales than analysts expected, and its stock climbed $9.23, or 6.1 percent, to $160.56. The company said demand from construction and mining sales grew compared with the same period a year ago, but truck production in North America fell.

Benchmark U.S. crude lost $1.18, or 2.4 percent, to $47.66 a barrel in New York. That's its lowest price since mid-November. Brent crude, used to price international oils, shed $1.06, or 2.1 percent, to $50.46 a barrel in London.

Health care stocks shook off an early loss. Merck climbed after it reported strong sales of newer medications including its cancer drug Keytruda and hepatitis C drug Zepatier, and its stock gained 32 cents to $62.70. Hospital chain Tenet Healthcare jumped $3.31, or 21.6 percent, to $18.66 after it agreed to sell three hospitals to HCA Holdings for $725 million and said it will rejoin insurer Humana's network.

Technology stocks rose further. The S&P 500's technology index, which includes 69 major companies, is at its highest levels since March 2000, the peak of the dot-com boom. However it's still well below the records it set back then.

Apple gained 93 cents to $147.51 during regular trading. Its stock lost 2 percent in aftermarket trading after the company reported results that included slightly disappointing quarterly iPhone sales. Its guidance also wasn't as strong as investors hoped.

Consumer products companies slipped. Drugstore operator and pharmacy benefits manager CVS Health lost $2.96, or 3.6 percent, to $79 and agricultural company Archer-Daniels-Midland shed $4.06, or 8.9 percent, to $41.67 after their respective earnings reports.

Consumer reviews website Angie's List soared after it agreed to be bought by media company IAC/InterActiveCorp. IAC/InterActive wants to combine Angie's List with its HomeAdvisor.com business, which offers resources for home repair and improvement projects. The company will be called ANGI Homeservices.

IAC/InterActive offered to buy Angie's List in 2015 for $8.75 a share, which Angie's List said was too low. On Tuesday its stock jumped $3.6, or 61.5 percent, to $9.51 and IAC/InterActive rose $12.05, or 14.3 percent, to $96.24.

Health insurer Molina Healthcare fired CEO Mario Molina and chief financial officer John Molina, citing the company's poor financial performance. The Medicaid administrator was founded by their father, David Molina, who died in 1996. The stock jumped $8.95, or 17.6 percent, to $59.75.

Bond prices headed higher. The yield on the 10-year Treasury note fell to 2.28 percent from 2.32 percent.

In other energy trading, wholesale gasoline dipped 1 cent to $1.51 a gallon. Heating oil lost 2 cents to $1.47 a gallon. Natural gas gave up 2 cents to $3.20 per 1,000 cubic feet.

Gold rose $1.50 to $1,257 an ounce. Silver fell 1 cent to $16.83 an ounce. Copper lost 3 cents to $2.64 a pound.

The dollar rose to 112 yen from 111.83 yen. The euro rose to $1.0928 from $1.0906.

In Greece the Athex composite jumped 3.1 percent after the country and its creditors agreed Greece should make another round of pension cuts in 2019 and commit to a budget target when its current bailout program ends next year. That deal will restart bailout loan payments to Greece, meaning it won't face default. That could have touched off another eurozone crisis. Other European stocks also rallied. The CAC 40 in France added 0.7 percent while Britain's FTSE 100 index gained 0.6 percent. In Germany, the DAX rose 0.6 percent.

The Japanese Nikkei 225 index advanced 0.7 percent and South Korea's Kospi gained 0.7 percent. The Hang Seng in Hong Kong added 0.3 percent.


----------



## bigdog

https://www.ksl.com/?nid=151&sid=44...s-media-health-care-companies-fall-banks-jump

*Stocks dip as media, health care companies fall; banks jump*
* By Marley Jay, Associated Press  *

NEW YORK (AP) — U.S. stocks dipped Wednesday as media and health care companies took losses. The Federal Reserve left interest rates unchanged, but bond yields and banks rose as investors felt rates will increase soon.

First-quarter results for most companies have been good, but stocks were lower all day as a few big-name companies disclosed shaky results. Media companies tumbled after Time Warner said its cable advertising revenue fell. Apple slipped after iPhone sales came in lower than investors expected, but the stock recovered nearly all of its losses.

The Federal Reserve left interest rates where they were, but also said it expects the economy to start growing at a faster pace. That could set the stage for the Fed to boost interest rates in June. Bond yields and interest rates rose after the Fed made its statement. That sent bank stocks higher, which narrowed the market's losses. The dollar also got a bit stronger.

Ryan Detrick, senior market strategist for LPL Financial, said he agrees that the economy will improve following a sluggish first quarter.

"Earnings have been strong across the board," he said. "The economy isn't quite as weak as that GDP (report) makes it look."

The Standard & Poor's 500 index slipped 3.04 points, or 0.1 percent, to 2,388.13. The Dow Jones industrial average added 8.01 points to 20,957.90. The Nasdaq composite sank 22.82 points, or 0.4 percent, to 6,072.55. The Russell 2000 index, which tracks smaller companies, declined 8.44 points, or 0.6 percent, to 1,390.92.

The Federal Reserve said economic growth slowed over the last six weeks as inflation stayed low and spending didn't increase much. However it expects growth to pick up and said inflation should eventually reach its target of 2 percent. Experts think it's likely the central bank will raise rates in June, as it did last December and again in March. Detrick said he thinks the Fed will raise interest rates two more times this year.

Media companies slumped after Time Warner, the owner of HBO and TBS, said revenue from cable advertising fell in the first quarter. Time Warner has agreed to be bought by AT&T, so its stock hardly budged, but its competitors slumped. Walt Disney shed $2.75, or 2.4 percent, to $111.62, for its biggest loss in almost a year. Viacom sank $3.20, or 7.5 percent, to $39.26 and CBS lost $2.20, or 3.4 percent, to $63.46. Twenty-First Century Fox gave up $1.55, or 5.1 percent, to $28.88.

Apple's first-quarter iPhone sales and projections for the current quarter weren't quite as good as analysts hoped. Apple stock struggled in late 2015 and for much of 2016 as iPhone sales slowed down and then fell for the first time. But they've climbed 27 percent this year and the stock closed at an all-time high Tuesday. It fell as much as 2.2 percent early Wednesday, but finished down just 45 cents at $147.06.

Irish generic drug maker Perrigo said its offices were searched as part of a Justice Department investigation into pricing by generic drug companies. Perrigo dropped $3.88, or 5.1 percent, to $72.35. Several other companies have previously disclosed subpoenas connected to that probe, including Mylan and Lannett. Mylan fell 98 cents, or 2.6 percent, to $37.19. Lannett had a disappointing quarter as drug pricing remained weak, and its stock tumbled $5.05, or 18.6 percent, to $22.10.

Biotech drugmaker Gilead Sciences reported disappointing profit and revenue as sales of its hepatitis C drugs Sovaldi and Harvoni plunged in all major markets, and its stock gave up $1.38, or 2 percent, to $67.21.

Bond prices turned lower. The yield on the 10-year Treasury note rose to 2.32 percent from 2.29 percent and banks climbed.

U.S. benchmark crude added 16 cents to $47.82 a barrel in New York. On Tuesday U.S. crude oil closed at its lowest price since mid-November. Brent crude, used to price international oils, rose 33 cents to $50.79 a barrel in London.

Wireless spectrum license company Straight Path Communications continued to soar. It said it's received an all-stock offer worth $135.96 per share from an undisclosed buyer. AT&T had agreed to pay $95.63 per share. The company said it informed AT&T that the new offer is superior, and AT&T will have three days to decide if it wants to raise its offer.

Straight Path's stock jumped $29.38, or 23.4 percent, to $155.20.

Vehicle parts maker Delphi Automotive surged after it said it will spin off its powertrain systems business into a separate publicly traded company. Investors often applaud such transactions, which are tax-free, because they can help fast-growing businesses concentrate on expanding. Delphi's stock added $8.56, or 10.9 percent, to $87.01.

In other energy trading, wholesale gasoline added 2 cents to $1.53 a gallon. Heating oil stayed at $1.47 a gallon. Natural gas rose 3 cents to $3.23 per 1,000 cubic feet.

Gold fell $8.50 to $1,248.50 an ounce. Silver lost 29 cents to $16.55 an ounce. Copper dropped 9 cents, or 3.5 percent, to $2.54 a pound.

The dollar rose to 112.64 yen from 112 yen. The euro slid to $1.0906 from $1.0928.

The British FTSE 100 retreated 0.2 percent and France's CAC 40 lost 0.1 percent. The DAX of Germany rose 0.2 percent. Markets in Japan, Hong Kong and South Korea were closed for a holiday.


----------



## bigdog

http://www.wbrc.com/story/35341742/plunging-oil-prices-weigh-on-stocks-as-other-sectors-edge-up

*Plunging oil prices weigh on stocks as other sectors edge up*

By MARLEY JAY
AP Markets Writer

NEW YORK (AP) - Oil prices and energy companies plunged Thursday, but other stocks didn't move much as investors waited for more signs about the state of the economy.

Household goods makers and health care companies rose following some solid company earnings reports. Most other parts of the market made little gains, but energy companies took sharp losses as the price of crude oil fell almost 5 percent. That was its biggest one-day loss in about two months.

"We may be seeing signs that global production is strong, and whenever markets see a decline in oil prices they worry it's actually an indication of weak demand," said Kate Warne, an investment strategist for Edward Jones.

Warne said oil prices have slipped recently because of an accumulation of concerns about rising energy production in the U.S. and slower economic growth in both the U.S. and China.

Health care stocks didn't react much to the narrow passage in the House of Representatives of a bill intended to roll back much of former President Barack Obama's health care law. The bill now heads to the Senate, where its fate is less certain.

Broader market measures did tick higher after the bill was passed, however, as investors hoped the Republican-controlled Congress may be in a better position to compromise on business-friendly polices such as tax cuts.

The Standard & Poor's 500 index rose 1.39 points, or 0.1 percent, to 2,389.52. The Dow Jones industrial average lost 6.43 points to 20,951.47. The Nasdaq composite added 2.79 points to 6,075.34. The Russell 2000 index of small-company stocks dipped 2.08 points, or 0.1 percent, to 1,388.85. On the New York Stock Exchange, two out of every three stocks fell.

U.S. benchmark crude futures shed another $2.30, or 4.8 percent, to $45.52 a barrel in New York. Brent crude, the standard for international oils, fell $2.41, or 4.7 percent, to $48.38 a barrel in London. Oil has fallen to its lowest price since November as investors wonder if the OPEC cartel will extend an agreement to cut production and support prices. OPEC nations will discuss that deal later this month.

Exxon Mobil skidded $1.06, or 1.3 percent, to $81.64 and EOG Resources lost $3.16, or 3.4 percent, to $88.60. Chesapeake Energy tumbled 41 cents, or 7.4 percent, to $5.13.

Other parts of the market were quiet. The government will release its monthly jobs report Friday morning, and Warne said the April report may get an outsize level of attention because the previous jobs report was disappointing and the economy didn't grow much in the first quarter.

"A strong jobs report for April would suggest that first quarter's weakness was transitory," she said.

Church & Dwight, which makes Arm & Hammer baking soda, Trojan condoms and OxiClean cleaners, raised its profit estimate after its first-quarter results were better than analysts anticipated. Its stock rose $2.10, or 4.3 percent, to $50.85. Frosted Flakes and Pop Tarts maker Kellogg posted a larger profit than expected and its stock gained $1.46, or 2.1 percent, to $70.40.

The House of Representatives passed a revised bill that would roll back much of the 2010 Affordable Care Act. As currently written, the American Health Care Act would rework subsidies for private insurance, limit federal spending on Medicaid for low-income people, and cut taxes on upper-income individuals used to finance Obama's overhaul.

Bond prices dropped for the second day in a row. The yield on the 10-year Treasury note rose to 2.35 percent from 2.32 percent. That helped bank stocks because it allows them to make bigger profits on loans.

On Wednesday the Federal Reserve left interest rates unchanged, but said it expects the economy to recover from its sluggish growth in the first quarter. That's helping bond yields and the dollar because it's a hint the central bank expects to raise rates again soon.

Telecommunications companies slumped after Level 3 Communications and CenturyLink both disappointed Wall Street with their first-quarter results. Level 3 dropped $2.61, or 4.3 percent, to $57.81 and CenturyLink sank $1.68, or 6.6 percent, to $23.74.

In other energy trading, wholesale gasoline lost 5 cents, or 3.4 percent, to $1.48 a gallon. Heating oil gave up 6 cents, or 4.2 percent, to $1.41 a gallon. Natural gas lost 4 cents to $3.19 per 1,000 cubic feet.

Precious metals prices dropped further. Gold sank $19.90, or 1.6 percent, to $1,228.60 an ounce. Silver fell 24 cents, or 1.5 percent, to $16.30 an ounce. Copper lost 3 cents, or 1.3 percent, to $2.51 a pound.

The dollar turned lower and slipped to 112.42 yen from 112.64 yen. The euro rose to $1.0981 from $1.0906.

The CAC 40 in France rose 1.3 percent following a debate French presidential candidates Emmanuel Macron and Marine Le Pen. Macron has a large lead in the polls ahead of Sunday's vote. He is perceived to be more business-friendly and is an advocate of France's continued use of the euro and membership of the European Union. That helped send the euro higher Thursday.

Germany's DAX rose 1 percent and the FTSE 100 index in Britain added 0.2 percent.

The South Korean Kospi added 1 percent and Hong Kong's Hang Seng edged 0.1 percent lower. Japan's market remained closed for a holiday.


----------



## bigdog

http://www.wflx.com/story/35352654/after-jobs-report-a-late-push-takes-stocks-to-new-records

*After jobs report, a late push takes stocks to new records*

By MARLEY JAY
AP Markets Writer

NEW YORK (AP) - A solid pickup in hiring last month helped push the stock market to record highs Friday. The gains were driven by energy, technology and industrial companies.

The Labor Department told investors what they had hoped to hear: employers added more workers last month after a sluggish beginning to the year.

Energy companies rose as the price of oil recovered from losses earlier in the week. Media companies like CBS and Charter Communications recovered from their losses earlier in the week. Technology companies rose, but IBM missed out after billionaire investor Warren Buffett said he sold a large part of his stake in the company.

After a quiet morning, stocks rose in the afternoon and the S&P 500 finished above the all-time high close it set March 1.

Scott Wren, senior global equity strategist at Wells Fargo's Investment Institute, said stocks benefited from the combination of greater hiring and slower wage growth because if wages rise too quickly it will affect corporate profits.

"The market is likely to be concerned about wage gains and the impact on corporate margins as we move into 2018," he said.

The Standard & Poor's 500 index climbed 9.77 points, or 0.4 percent, to 2,399.29. The Dow Jones industrial average rose 55.47 points, or 0.3 percent, to 21,006.94.

The Nasdaq composite jumped 25.42 points, or 0.4 percent, to 6,100.76, which beat a record it set earlier this week. The Russell 2000 index of smaller-company stocks added 8.15 points, or 0.6 percent, to 1,397.

Employers in the United States added 211,000 jobs in April, according to the Labor Department. That comes after slow hiring over the first three months of the year and sluggish economic growth.

Energy companies bounced back as the price of oil steadied. After two steep losses in three days, benchmark U.S. crude oil jumped 70 cents, or 1.5 percent, to $46.22 a barrel in New York. Brent crude, the standard for international oil prices, added 72 cents, or 1.5 percent, to $49.10 barrel in London. Oil prices had fallen earlier this week as investors wonder if OPEC will extend a deal that trimmed oil production.

Occidental Petroleum rose $2.38, or 4.1 percent, to $60.40 and Transocean jumped 84 cents, or 8.1 percent, to $11.18. Baker Hughes gained $1.92, or 3.3 percent, to $59.33.

Apple jumped $2.43, or 1.7 percent, to $148.96, another record for the world's most valuable publicly-traded company. That helped tech stocks move higher.

Basic materials makers advanced. Dow Chemical gained $1.67, or 2.7 percent, to $63.09 and gas supplier Praxair rose $3.16, or 2.5 percent, to $129.48. Fertilizer maker CF Industries climbed $1.35, or 5 percent, to $28.42.

CBS announced a bigger profit and more revenue than analysts expected, and its stock gained $1.35, or 2.1 percent, to $65.20. Media companies have struggled the last few days as investors worried about declining cable ad revenue. Charter Communications, Scripps Networks and Tegna all traded higher.

IBM fell after Warren Buffett said he's sold about 25 million shares of the technology and consulting company, about a third of the stake that his Berkshire Hathaway company had owned. Buffett started buying IBM stock in 2011. IBM faces stiff competition from companies including Microsoft and Amazon, which have focused on cloud computing services. IBM reached an all-time high of $215 in early 2013 and closed at $155.05 Friday, down $4, or 2.5 percent.

Cosmetics maker Revlon plunged after its sales in North America fell during the first quarter. That affected all parts of its business, as its consumer and professional divisions both reported smaller profits and lower sales than they did a year ago. Revlon bought Elizabeth Arden in September, and sales for that business were about the same as they had been a year ago. The stock had its worst day since 2008 as it gave up $5.95, or 23.6 percent, to $19.30.

Biotech drug companies slipped. Biogen dropped $6.45, or 2.4 percent, to $262.15 and Incyte sank $2.69, or 2.1 percent, to $122.41. Celgene fell $2.05, or 1.6 percent, also closing at $122.41.

Bond prices held steady. The yield on the 10-year Treasury note remained 2.35 percent. High-dividend stocks did fairly well. Telecommunications companies recovered from a hard loss the day before, and utility companies also rose. Banks traded lower.

Gold dipped $1.70 to $1,226.90 an ounce. The precious metal fell more than 3 percent this week for its biggest decline since right after the presidential election. Silver lost 3 cents to $16.27 an ounce. Copper rose 2 cents to $2.53 a pound.

In other energy trading, wholesale gasoline rose 2 cents to $1.50 a gallon. Heating oil added 2 cents to $1.44 a gallon. Natural gas jumped 8 cents, or 2.5 percent, to $3.27 per 1,000 cubic feet.

The dollar rose to 112.61 yen from 112.42 yen. The euro climbed $1.0990 from $1.0981.

France's CAC 40 jumped another 1.1 percent as investors hoped centrist candidate Emmanuel Macron will be elected president over the weekend. The CAC 40 is at its highest level since early 2008. Britain's FTSE 100 was up 0.7 percent and Germany's DAX added 0.5 percent. The Hang Seng in Hong Kong lost 0.8 percent. Markets in Japan and South Korea were closed for holidays.


----------



## bigdog

https://www.nytimes.com/aponline/2017/05/08/world/europe/ap-financial-markets.html

*All Is Calm: US Stock Indexes Nudge Again to Record Highs*
By THE ASSOCIATED PRESS

NEW YORK — A turn higher in the last few minutes of trading was enough to nudge U.S. indexes to more record highs Monday as fear seemed to drain out of the market.

Trading was remarkably calm following the weekend's presidential election in France, which had the potential to upset global markets. The candidate who was in favor of keeping France in the European Union and in the euro currency won, to the relief of investors who feared the alternative would have hurt global trade. That helped calm markets enough that an index used to measure the market's fear level dropped to its lowest level since 1993.

The Standard & Poor's 500 index wafted up and down through the day before ending at 2,399.38, up by just 0.09 points. The Dow Jones industrial average likewise edged up a fraction of a percent, adding 5.34 points to 21,012.28.

The Nasdaq composite rose 1.90 points, or less than 0.1 percent, to 6,102.66. Small-company stocks fell, and the Russell 2000 index lost 5.36, or 0.4 percent, to 1,391.64.

Continue reading the main story


Markets around the world have been tearing higher in recent weeks, due in part to excitement about the French election and strong earnings reports from U.S. companies.

"Corporate earnings have been phenomenal, the best quarter in five years," said Phil Orlando, chief equity strategist at Federated Investors. "The earnings recession that was about seven or eight quarter long is definitively behind us. It's over."

More than 80 percent of companies in the S&P 500 have reported their results for the first three months of the year, and most have topped analysts' expectations. With the U.S. job market continuing to improve, along with economies around the world, Orlando says he expects profits to keep rising through the year. That has him, unlike market critics, not worried that stocks have grown too expensive relative to their profits, and he expects further gains.

"Everyone is starting to get a little more confident now," he said.

Confidence has grown enough that the VIX volatility index on Monday sank to its lowest level since 1993. The VIX measures how much investors are paying to protect themselves from upcoming swings in the S&P 500, and it has been on a general trend downward since shortly before Election Day.

Newell Brands jumped to the largest gain in the S&P 500 Monday after reporting stronger revenue and profit for its latest quarter than analysts expected. The company, whose brands include Paper Mate, Sharpie and Calphalon, also raised its earnings forecast for the year. Shares jumped $5.54, or 11.9 percent, to $51.93.

Kate Spade surged $1.41, or 8.3 percent, to $18.38 after agreeing to a $2.4 billion buyout by Coach, its rival in the luxury goods market. Coach will pay $18.50 per share for Kate Spade.

Often when companies announce takeovers, the purchaser will see its share price drop on worries that it paid too much or pursued an ill-fitting deal. But Coach rose $2.05, or 4.8 percent, to $44.71.


----------



## bigdog

https://finance.yahoo.com/m/1a0d111b-74df-3131-8991-1eed577da17f/ss_nasdaq-sets-another-record;.html

*Nasdaq sets another record; energy stocks hold back S&P 500*




STAN CHOE

NEW YORK (AP) — The Nasdaq composite index ticked higher to another record Tuesday, but a drop by energy stocks held other indexes back.

It was the third straight day that the Nasdaq notched an all-time high, but each of those has been by only a marginal amount. Stocks have been stuck in a largely listless trading pattern in recent weeks, as investors see few reasons to make big moves in either direction.

The Nasdaq rose 17.93 points, or 0.3 percent, to 6,120.59. The Standard & Poor's 500 index bobbed around its own record through the day, before losing momentum in the last half hour. It slipped 2.46 points, or 0.1 percent, to 2,396.92.

The Dow Jones industrial average fell 36.50 points, or 0.2 percent, to 20,975.78, and the Russell 2000 index of smaller stocks ticked up by 0.22 points, or less than 0.1 percent, to 1,391.86.

Markets have been placid the last two weeks, and the biggest one-day move for the S&P 500 during that span has been 0.6 percent, as investors keep crossing off reasons to fear. Last week's solid jobs report gave reassurance that the U.S. economy is improving despite a weak showing at the start of the year.

Companies have been turning in a series of stronger-than-expected profit reports, which has tempered concerns that stocks have grown too expensive relative to earnings. And the recent presidential election in France raised confidence that voters may be turning their back on a nationalistic brand of politics that could hurt global trade.

"This is almost like the post-celebration letdown," said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management. "Everyone is just relaxing, trying to figure out what direction to go next."

It could stay that way for a few days, unless something unexpected happens to knock the market out of its lazy drift, with few events on the calendar with market-moving potential.

"We're in a little bit of a lull here, and I think traders are thinking it's like a Seinfeld episode where it's all about nothing," Jacobsen said.

The day's biggest excitement involved energy stocks, which deepened their losses for the year. Energy stocks in the S&P 500 lost 0.9 percent, tied for most among the 11 sectors that make up the index. They're now down 10.8 percent for 2017, when the S&P 500 is up 7.1 percent.

The sector followed the price of oil lower. Benchmark U.S. crude fell 55 cents to settle at $45.88 per barrel. Brent crude, the international standard, fell 61 cents to $48.73 per barrel.

High-dividend stocks were also weak. Utilities in the S&P 500 lost 0.9 percent, while telecoms fell 0.6 percent.

Demand has dulled for high income-paying stocks as bonds have begun to pay more in interest. The yield on the 10-year Treasury note held steady at 2.39 percent Tuesday, but it's up from a low of 2.17 percent three weeks ago.

Marriott International jumped $6.13, or 6.4 percent, to $102.50 after reporting stronger-than-expected earnings for the latest quarter. The hotel operator cited improving trends around the world, from North America to Europe to Asia.

Hertz Global Holdings sank $2.11, or 14.2 percent, to $12.80 after reporting a larger loss for the last quarter than analysts expected.

European stock markets were mostly higher, and the German DAX rose 0.4 percent. The CAC 40 in France gained 0.3 percent, and the FTSE 100 in London rose 0.6 percent.

Japan's Nikkei 225 index dipped 0.3 percent, while the Hang Seng in Hong Kong jumped 1.3 percent. The South Korean market was closed as voters elected a new president.

The euro fell to $1.0869 from $1.0930 late Monday. The dollar rose to 114.28 Japanese yen from 113.07 yen, and the British pound slipped to $1.2927 from $1.2943.

In the commodities market, natural gas rose 6 cents to $3.23 per 1,000 cubic feet, heating oil fell 1 cent to $1.44 per gallon and wholesale gasoline slipped 3 cents to $1.49 per gallon.

Gold dipped $11.00 to settle at $1,216.10 per ounce, silver fell 19 cents to $16.07 per ounce and copper was close to flat at $2.50 per pound.


----------



## bigdog

https://finance.yahoo.com/m/d4060824-b2b5-3a98-b270-8bd8e8cef628/ss_us-stocks-rise-as-energy.html

*US stocks rise as energy companies rally with oil prices*




MARLEY JAY

NEW YORK (AP) — Energy companies jumped with the price of oil Wednesday, but overall, stocks finished only slightly higher as a quiet week of trading continued.

The price of U.S. crude oil jumped 3 percent as fuel stockpiles kept shrinking, and that made investors more optimistic about energy company profits. Strong earnings from video game maker Electronic Arts and chipmaker Nvidia helped technology stocks move up. However weak results from Priceline and Disney hurt consumer-focused companies, and health care stocks also stumbled as drug companies fell.

Investors didn't react much to President Donald Trump's surprise decision to fire FBI Director James Comey on Tuesday evening. U.S. stocks also had little reaction to the French presidential election last weekend, although European indexes climbed following the win by centrist candidate Emmanuel Macron.

"It's almost as if the market has become numb," said Julian Emanuel, an equity strategist for UBS. "Investors are interpreting this as more noise."

Emanuel said investors are focused on economic growth and the Trump administration's business-friendly agenda. Until they have a clearer understanding of how well the economy is doing and whether Trump's policies will be implemented, he said investors may just wait and see, in which case stocks will stay in the range they've traded in for the last few months.

The Standard & Poor's 500 index picked up 2.71 points, or 0.1 percent, to 2,399.63, a fraction of a point above the all-time high it set Monday. The Dow Jones industrial average shed 32.67 points, or 0.2 percent, to 20,943.11 as Disney and Boeing slumped. The Nasdaq composite finished at a record for the fourth day in a row as it rose 8.56 points, or 0.1 percent, to 6,129.14. The Russell 2000 index of small-company stocks was up 7.73 points, or 0.6 percent, to 1,399.59.

Oil prices made big gains as reports showed U.S. crude stockpiles dropped by 5.2 million barrels last week. That was bigger than analysts expected. Crude inventories are returning to more normal levels after they swelled to record highs the last few years.

Benchmark U.S. crude surged $1.45, or 3.2 percent, to $47.33 a barrel in New York. Brent crude, the international standard, gained $1.49, or 3.1 percent, to $50.22 a barrel in London

EOG Resources gained $2.90, or 3.2 percent, to $94.54 and Chevron added $1.42, or 1.4 percent, to $106.50.

Crude oil prices have fallen in recent weeks as investors wondered if the members of OPEC and other key oil-producing countries will be able to limit production and support prices. U.S. oil has traded between around $45 and $55 a barrel this year as investors worried about oil prices and profits at energy companies. The S&P 500's energy sector has dropped 10 percent in 2017.

Nvidia advanced $18.35, or 17.8 percent, to $121.29. Nvidia tripled in value in 2016 and had wobbled early this year. Electronic Arts, which makes games including "The Sims" and "Mass Effect," rose $12.15, or 12.7 percent, to $108.16.

Emanuel, of UBS, said investors are rewarding companies that are reporting strong earnings growth but don't depend too much on faster economic growth. That includes technology companies and banks.

Entertainment giant Walt Disney posted lower sales than investors expected and it said profit at its cable networks declined because of programming costs at ESPN remain high. Its stock fell $2.41, or 2.2 percent, to $109.66. Recently Disney stock suffered a five-day losing streak partly brought on by concerns about cable advertising revenue.

Revenue for online booking service Priceline was a bit lower than analysts expected and the company's profit forecast for the current quarter was also disappointing. That sent the stock down $86.72, or 4.5 percent, to $1,824.41. Priceline has soared 44 percent over the last 12 months.

Boeing lost $2.31, or 1.2 percent, to $183.18 after it suspended test flights of its new 737 Max plane because of possible problems with a key engine part. The Max is designed to be a more fuel-efficient version of the 737, Boeing's most popular commercial plane.

Online review website Yelp plunged after it slashed its revenue forecast for the year. That followed a disappointing first-quarter report, and analysts said the company struggled to retain customers. The stock sank $6.37, or 18.4 percent, to $28.33 to reach its lowest price in almost a year.

Watchmaker Fossil tumbled after another weaker-than-expected quarterly report. The company said sales of traditional watches and other jewelry continued to fall. The stock fell $3.71, or 20.4 percent, to $14.44. The stock traded above $100 a share as recently as December 2014 but has been trading at eight-year lows.

Bond prices rose early but later returned that gain. The yield on the 10-year Treasury note remained at 2.41 percent.

In other energy trading, wholesale gasoline rose 5 cents to $1.54 a gallon. Heating oil added 3 cents to $1.48 a gallon. Natural gas climbed 7 cents to $3.29 per 1,000 cubic feet.

Gold inched up $2.80 to settle at $1,218.90 an ounce. Silver rose 14 cents to $16.21 an ounce. Copper was unchanged at $2.49 a pound.

The dollar rose to 114.33 yen from 114.28 yen. The euro dipped to $1.0862 from $1.0869.

In Britain, the FTSE 100 jumped 0.6 percent. Germany's DAX rose 0.1 percent and the CAC 40 in France finished unchanged. The Japanese Nikkei 225 gained 0.3 percent and Hong Kong's Hang Seng index rose 0.5 percent. The Kospi of South Korea fell 1 percent.


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## bigdog

http://www.wpxi.com/news/us-stocks-slide-in-early-trading-oil-heads-higher/521573739

*Disappointing retail earnings drag on US stocks; oil rises*
*by: ALEX VEIGA, AP Business Writer

Disappointing quarterly results from Macy's, Kohl's and other big department store chains put investors in a selling mood Thursday, sending U.S. stocks modestly lower.

Stocks in the consumer discretionary sector, which includes many retailers, slumped the most. Macy's plunged 14 percent. Kohl's, Dillard's and Nordstrom also fell sharply.

"Those retail numbers are weighing on the market," said Quincy Krosby, market strategist at Prudential Financial. "Macy's (results) came in well below what the market had expected and that has basically put a cloud over the brick-and-mortar retail across the board."

Banks and real estate companies were also big decliners. Consumer goods, health care and utilities stocks eked out small gains. Three stocks fell for every two that rose on the New York Stock Exchange. Oil prices rose.

The Standard & Poor's 500 index fell 5.19 points, or 0.2 percent, to 2,394.44. The Dow Jones industrial average lost 23.69 points, or 0.1 percent, to 20,919.42. The Nasdaq composite declined 13.18 points, or 0.2 percent, to 6,115.96, a day after closing at another all-time high.

Small-company stocks fell more than the rest of the market. The Russell 200 index dropped 9.39 points, or 0.7 percent, to 1,390.20.

Only the Nasdaq is on track to end the week with a gain.

The disappointing earnings from retailers set the major stock indexes on a downward trajectory early on Thursday.

Macy's tumbled 17 percent after its results fell short of Wall Street's forecasts. The stock was the biggest decliner in the S&P 500, sliding $4.99 to $24.35.

Dillard's and Kohl's reported revenue that was below what analysts were expecting. Dillard's slumped $10.13, or 17.5 percent, to $47.77. Kohl's fell $3.16, or 7.8 percent, to $37.16.

Shares in Nordstrom also declined, sliding $3.80, or 7.6 percent, to $46.21. The department store chain reported its results after the close of regular trading.

"It's definitely a discouraging sign, the reports we got from Macy's and Kohl's," said Lindsey Bell, investment strategist at CFRA. "The retailers that are more levered to apparel are going to have a tough quarter."

J.C. Penney is due to report quarterly results on Friday. Wal-Mart Stores, Target, Home Depot and other big retailers do so next week.

Despite the sluggish results from some department store chains, corporate results for the first three months of the year have been mostly positive. With about 89 percent of companies in the S&P 500 index having reported results so far, 51 percent have turned in better-than-expected earnings and revenue, according to CFRA Research. Technology, financials and materials companies have posted the biggest earnings growth.

The parent company of Snapchat was also among the big movers Thursday. Snap plunged 21.5 percent a day after it reported a huge loss. The stock slid $4.93 to $18.05.

Investors also sold off shares in Straight Path Communications after a bidding war between AT&T and Verizon Communications to acquire the wireless licenses company ended. Verizon will acquire Straight Path in an all-stock deal valued at about $3.1 billion. Shares in Straight Path gave up $45.68, or 20.4 percent, to $178.11. Verizon fell 36 cents to $46.02.

Shares in Interexon surged 20.8 percent after the biotechnology company's quarterly revenue exceeded Wall Street's expectations. The stock gained $4.06 to $23.62.

Bond prices rose. The yield on the 10-year Treasury note slipped to $2.39 percent from 2.41 percent late Wednesday.

Benchmark U.S. crude oil rose 50 cents, or 1.1 percent, to settle at $47.83 per barrel in New York after surging $1.45 on Wednesday. Brent crude, the international standard, added 55 cents, or 1.1 percent, to close at $50.77 per barrel in London. In other energy trading, wholesale gasoline rose 2 cents to $1.56 a gallon. Heating oil added 1 cent to $1.49 a gallon. Natural gas climbed 8 cents, or 2.6 percent, to $3.38 per 1,000 cubic feet.

Among metals, gold inched up $5.30 to settle at $1,224.20 an ounce. Silver rose 6 cents to $16.21 an ounce. Copper gained a penny to $2.50 a pound.

In currency trading, the dollar fell to 113.84 yen from 114.33 yen on Wednesday. The euro strengthened to $1.0863 from $1.0862.

Major stock indexes in Europe closed mostly lower. Germany's DAX fell 0.4 percent, while France's CAC 40 edged down 0.3 percent. Britain's FTSE shed early gains to end flat. In Asia, indexes notched gains. Japan's Nikkei 225 rose 0.3 percent, while South Korea's Kospi jumped 1.2 percent. Hong Kong's Hang Seng index added 0.4 percent.


*


----------



## bigdog

https://www.usnews.com/news/busines...epartment-stores-drags-us-stock-indexes-lower

* S&P 500 Index Slips, Posts Its First Down Week in a Month *
*Shares of department stores sank again Friday, hurt by more evidence that shoppers are turning away from them.*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Shares of department stores sank again Friday, hurt by more evidence that shoppers are turning away from them. A drop in Treasury yields also put pressure on bank stocks, and the weakness helped pull the Standard & Poor's 500 index to its first weekly loss in the last four.

The S&P 500 dipped 3.54 points, or 0.1 percent, to close at 2,390.90, part of a 0.3 percent loss for the week. The index is still within half a percent of its record, though, and the market continues to make only modest moves through what's become a weekslong, peaceful lull.

The Dow Jones industrial average fell 22.81 points, or 0.1 percent, to 20,896.61, and the Nasdaq composite rose 5.27 points, or 0.1 percent, to 6,121.23. Small-company stocks fell more than the rest of the market. The Russell 2000 index lost 7.43 points, or 0.5 percent, to 1,382.77.

The biggest loss in the S&P 500 came from Nordstrom, which plunged $5.01, or 10.8 percent, to $41.20 after it said a key sales figure weakened last quarter by more than analysts expected. Nordstrom joined a long list of other department-store chains that have reported discouraging results recently, as their customers increasingly head online.

J.C. Penney fell 74 cents, or 14 percent, to $4.55 after it reported a loss for its latest quarter and weaker revenue than analysts expected.

The broader market, though, was much more pacific. It was the 13th straight day that the S&P 500 moved by less than 0.5 percent, the longest such streak since 1995.

"It's extremely calm, which always makes us a little nervous," said Eric Marshall, portfolio manager at Hodges Capital Management. "We're in a very narrow market and a very thin market: It's hard to buy things, and it's hard to sell things because the amount of trading volume out there has slowed down in recent weeks."


The market has grown sleepier as companies have reported stronger-than-expected profits and as encouraging data lifted optimism about the global economy. The calmness also comes despite a spate of political jolts, including concerns about how successful Republicans in Washington will be at pushing through the pro-business changes that many investors are expecting.

A government report on Friday showed that shoppers picked up their spending at auto dealers, hardware stores and online shops last month, and retail sales rose 0.4 percent from March. That was below economists' expectations, but it's an acceleration from weak levels registered earlier in the year. It also may be an indication that the economy will indeed pick up from its early-year torpor, as many economists predict.

Consumer prices also picked up a bit of momentum in April. Prices rose 0.2 percent last month, following a drop of 0.3 percent in March, as energy prices climbed higher. But after excluding energy and food prices, inflation was weaker last month than economists were expecting.

The Federal Reserve is paying close attention to inflation as it raises interest rates off their record lows, particularly where it is after excluding energy and food prices, which can be volatile.

Bond yields dropped as Treasury prices rose. The yield on the 10-year Treasury fell to 2.32 percent from 2.40 percent late Thursday. The two-year yield dropped to 1.28 percent from 1.34 percent, and the 30-year yield fell to 2.99 percent from 3.03 percent.

Bank stocks have recently been trading in the opposite direction of Treasury yields, because a pickup in interest rates would allow banks to make bigger profits from making loans.


Financial stocks in the S&P 500 fell 0.5 percent, second-most among the 11 sectors that make up the index.

On the winning side were utilities, whose relatively big dividends look more attractive when bonds are paying less in interest.

In European markets, the French CAC 40 rose 0.4 percent, the German DAX gained 0.5 percent and the FTSE 100 in London picked up 0.7 percent. In Asia, Japan's Nikkei 225 fell 0.4 percent, South Korea's Kospi fell 0.5 percent and the Hang Seng in Hong Kong ticked up by 0.1 percent.

Benchmark U.S. crude oil rose a penny to settle at $47.84 a barrel. Brent crude, the international standard, rose 7 cents to $50.84 a barrel.

Natural gas rose 5 cents to $3.42 per 1,000 cubic feet, heating oil was close to flat at $1.49 per gallon and wholesale gasoline rose a penny to $1.58 per gallon.

Gold rose $3.50 to settle at $1,227.70 per ounce, silver gained 14 cents to $16.40 per ounce and copper added 2 cents to $2.52 per pound.

The euro rose to $1.0931 from $1.0866 late Thursday. The dollar slipped to 113.29 Japanese yen from 113.88 yen, and the British pound slipped to $1.2886 from $1.2890.

6544


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## bigdog

https://finance.yahoo.com/m/2289613...e49b9d1/ss_oil&#39;s-well:-rising-energy.html

*Oil's well: Rising energy stocks help send S&P 500 to record*




STAN CHOE

NEW YORK (AP) — A spurt in oil prices on Monday revived energy stocks, which have been among the year's worst performers, and helped push the broader market back to record highs.

The Standard & Poor's 500 index climbed 11.42 points, or 0.5 percent, to 2,402.32, edging past its prior record set last week.

The Dow Jones industrial average gained 85.33 points, or 0.4 percent, to 20,981.94, the Nasdaq composite gained 28.44, or 0.5 percent, to 6,149.67 and the Russell 2000 index of smaller stocks rose 11.15 points, or 0.8 percent, to 1,393.92.

Energy stocks helped lead the way after the price of oil jumped on expectations that the global glut of crude may ease.

A wide group of oil-producing countries has already cut production in hopes of supporting the price of oil, and Russia and Saudi Arabia said they want to extend the cuts through the first three months of 2018. Benchmark U.S. crude rose $1.01, or 2.1 percent, to settle at $48.85 per barrel. Brent crude, the international standard, rose 98 cents to $51.82 a barrel.

The price of oil has swung sharply in recent years, from more than $100 three years ago to less than $30 last year, as concerns wax and wane that supplies will overwhelm demand.

Monday's rise for crude helped oilfield services provider Halliburton jump $1.37, or 3 percent, to $46.51 for one of Monday's biggest gains in the S&P 500. Energy companies across the index rose 0.6 percent.

Companies that produce metals and other basic materials, along with financial stocks, were also strong.

The day's rally continued a calm push higher for stocks in recent weeks. Markets around the world have been making modest, methodical gains as investors shrug off a long list of potential concerns.

South Korean stocks rose Monday even after North Korea launched a missile over the weekend and its leader promised more missile tests. The worldwide "ransomware" cyberattack continued to spread on Monday, which sent cybersecurity stocks like FireEye and Symantec higher, while politicians in Washington wonder whether Republicans' odds of implementing tax cuts and other pro-business policies have diminished.

For the most part, signs of a strengthening global economy and improving corporate profits have been enough to allay investors' fears and push markets to new heights. Profits have been rallying not only in the United States but also in Europe and other areas that have been struggling for years.

The recent run of calmness is a sharp turnaround from the start of last year, when twitchy investors were quick to sell on worries about the global economy.

"We do really see this prevailing sense of complacency," said Jon Adams, senior investment strategist at BMO Global Asset Management. "I don't think we see any dark clouds on the horizon, but I wouldn't be surprised to see a 5 to 10 percent drawdown from now to year-end."

Adams expects corporate profits to keep improving, which should help support stocks, but he points to several events that could jolt markets. Besides the uncertainty about what will happen on the Korean peninsula or in Washington, upcoming elections in the United Kingdom, France and potentially Italy could also upset what's become a lazy ride for markets.

In Europe, France's CAC 40 rose 0.2 percent, Germany's DAX index gained 0.3 percent and the FTSE 100 in London rose 0.3 percent. In Asia, Japan's Nikkei 225 stock index slipped 0.1 percent, and Hong Kong's Hang Seng index added 0.9 percent. South Korea's Kospi index rose 0.2 percent.

In the commodities markets, the price of gold rose $2.30 to settle at $1,230 per ounce, silver rose 20 cents to $16.60 per ounce and copper gained nearly 2 cents to $2.54 per pound.

Natural gas fell 8 cents to $3.35 per 1,000 cubic feet, heating oil rose 2 cents to $1.51 per gallon and wholesale gasoline climbed 2 cents to $1.60 per gallon.

The euro rose to $1.0978 from $1.0924 late Friday. The dollar rose to 113.68 Japanese yen from 113.41 yen, and the pound rose to $1.2895 from $1.2879.

The 10-year Treasury yield ticked up to 2.34 percent from 2.33 percent late Friday. The two-year yield rose to 1.30 percent from 1.29 percent, while the 30-year yield rose to 3.01 percent from 2.99 percent.


----------



## bigdog

https://www.usnews.com/news/busines...-stocks-waver-in-early-trading-on-wall-street

* US Stock Indexes End Mostly Lower; Nasdaq Notches New High *

*A subdued day of trading on Wall Street ended with stocks closing mostly lower even as the Nasdaq composite notched another record high.*

*By ALEX VEIGA, AP Business Writer

A subdued day of trading on Wall Street ended Tuesday with stocks closing mostly lower even as the Nasdaq composite notched another record high.

Utilities, phone companies and other high-dividend paying stocks were among the biggest decliners. Energy stocks also fell along with a drop in the price of crude oil. Technology companies climbed the most. Financials also eked out a small gain.

Investors sized up the latest crop of company earnings and new data on home construction and industrial production.

"The economic data that we've seen today is sort of what we've seen the last few weeks, some good, some bad," said Jim Davis, regional investment strategist at the Private Client Group at U.S. Bank.

The Standard & Poor's 500 index dipped 1.65 points, or 0.1 percent, to 2,400.67. The Dow Jones industrial average slid 2.19 points, or 0.01 percent, to 20,979.75. The Nasdaq gained 20.20 points, or 0.3 percent, to 6,169.87. The tech-heavy index and the S&P 500 each hit new highs on Monday.

The Russell 2000 index of smaller stocks rose 0.76 points, or 0.1 percent, to 1,394.68. More stocks fell than rose on the on the New York Stock Exchange.

The stock indexes headed higher early Tuesday, but spent much of the day trading in a narrow range, wavering between small gains and losses.

The Federal Reserve provided some positive economic news, reporting that industrial production at U.S. factories, mines and utilities shot up 1 percent in April from March. That's the biggest gain since February 2014 and the third straight monthly gain. The increase was more than twice what economists had expected.

A separate report on residential construction was less encouraging.


The Commerce Department said home construction fell for a second straight month in April, marking the slowest pace in five months. Housing starts slid 2.6 percent to a seasonally adjusted annual rate of 1.17 million units. The weakness was led by a big drop in construction of apartments, a volatile sector.

While disappointing, the report didn't appear to weigh much on the market. Most homebuilders closed higher, led by LGI Homes, which rose $1.26, or 3.9 percent, to $33.95.

Traders also had their eye on the latest crop of quarterly results from companies.

Home Depot got a small boost after topping expectations for profit and revenue in the first quarter. The home-improvement retailer also raised its profit outlook for the year. The stock gained 93 cents, or 0.6 percent, to $158.26.

"Home-improvement and beauty retailers are really where the strength is within the retail sector, and of course, online," said Lindsey Bell, investment strategist at CFRA.

Among the other big movers that reported improved quarterly report cards Tuesday: Online and mobile media services company Sina jumped $15, or 17.8 percent, to $99.04.

Several companies that delivered disappointing results fell sharply.

Dick's Sporting Goods slumped $6.53, or 13.7 percent, to $41.04, while apparel and home fashions retailer The TJX Cos. slid $3.14, or 4.1 percent, to $73.76.

Staples also gave up 3.5 percent after the office supply chain reported revenue for the latest quarter that fell far short of what Wall Street analysts were expecting. The stock lost 33 cents to $8.99.

News that two private equity firms disclosed a combined 8 percent stake in Etsy sent shares in the online crafts site sharply higher. The stock climbed $2.41, or 21.3 percent, to $13.73.


Chipmaker Advanced Micro Devices was the biggest gainer in the S&P 500, surging $1.33, or 11.7 percent, to $12.75.

Energy prices declined Tuesday, giving back some of the gains from a day earlier on news that a group of oil-producing countries had cut production in hopes of supporting the price of oil.

Benchmark U.S. crude slipped 19 cents to close at $48.66 a barrel in New York. Brent crude, used to price international oils, lost 17 cents to settle at $51.65 a barrel in London.

The price of oil has swung sharply in recent years, from more than $100 three years ago to less than $30 last year, as concerns rise and fall that supplies will overwhelm demand.

In other futures trading, natural gas fell 12 cents, or 3.6 percent, to $3.23 per 1,000 cubic feet. Heating oil rose 1 cent to $1.52 per gallon, while wholesale gasoline added 1 cent to $1.60 per gallon.

The price of gold rose $6.40 to settle at $1,236.40 per ounce. Silver added 13 cents to $16.69 per ounce. Copper gained 1 cent to $2.55 per pound.

In currency trading, the dollar declined to 113.03 yen from Monday's 113.68 yen. The euro gained to $1.1095 from $1.0978.

Bond prices rose. The 10-year Treasury yield fell to 2.33 percent.

Major stock indexes in Europe were mixed. Germany's DAX was flat, while France's CAC-40 was down 0.2 percent. London's FTSE 100 rose 0.9 percent. In Asia, Tokyo's Nikkei 225 rose 0.2 percent and Seoul's Kospi added 0.2 percent. Hong Kong's Hang Seng shed 0.1 percent.

*


----------



## PZ99

Looks like a Trump dump in play for NYSE although still way over 20K.







Plenty of hair loss coming up here today


----------



## bigdog

https://www.usnews.com/news/busines...s-stock-indexes-lower-in-early-trading-oil-up

* Stocks, Bond Yields Drop Washington Turmoil Rattles Markets *
*Stocks drop as financial markets are rattled by the latest turbulence in Washington.*

By ALEX VEIGA, AP Business Writer

The growing political drama in Washington rattled Wall Street Wednesday, knocking the Dow Jones industrial average down more than 370 points and giving the stock market its biggest single-day slump in eight months.

Investors worried that the headline-fueled political turmoil that has enveloped the White House may hinder President Donald Trump's plans to cut taxes, roll back government regulations and other aspects of his pro-business agenda.

The steep drop ended an unusually long period of calm for the markets, which had been hovering near all-time highs.

Financial stocks, which had soared in the months since the election, declined the most as bond yields fell sharply. Bonds, utilities and gold rose as traders shunned riskier assets. The dollar fell.

"When you are at these valuations, the market has to reassess whether or not the agenda is actually going to be implemented," said Quincy Krosby, market strategist at Prudential Financial. "What you're seeing is a classic run toward safety."

The Standard & Poor's 500 index had its biggest drop since September, sliding 43.64 points, or 1.8 percent, to 2,357.03. The Dow lost 372.82 points, or 1.8 percent, to 20,606.93. The Nasdaq composite index, coming off setting two consecutive record highs, gave up 158.63 points, or 2.6 percent, to 6,011.24.

Small-company stocks fell more than the rest of the market. The Russell 2000 index sank 38.79 points, or 2.8 percent, to 1,355.89. Those companies would stand to benefit even more than large ones from corporate tax cuts Trump is proposing. They also had risen sharply in the months following the election.

The sell-off snapped an unusually long period of calm after hitting a series of record highs. On Tuesday the S&P 500, the benchmark favored by professional investors, marked its 15th straight day of moving up or down by less than 0.5 percent. It closed at its latest record high on Monday.


Bond prices rose sharply. The 10-year Treasury yield fell to 2.21 percent from 2.33 percent late Tuesday, a large move.

The seeds of Wednesday's steep market sell-off were present late Tuesday, when a published report revealed that Trump allegedly made a personal appeal to now-fired FBI Director James Comey to drop the bureau's investigation into former National Security Adviser Michael Flynn. The White House denied the report.

Trump had already been facing pointed questions about his discussions with Russian diplomats during which he was reported to have disclosed classified information.

"The controversy is not new, but this one really seems to be sticking," said Erik Davidson, chief investment officer for Wells Fargo Private Bank. "The Trump economic program is either going to be delayed by this turn of events or possibly be derailed, that's why investors are acting the way they are."

The latest headlines ratcheted up the market's unease. The VIX index, a measure of how much volatility investors expect in stocks, rose to its highest level since April 13. Investors shifted into U.S. government bonds, pushing yields lower, and into gold. The precious metal jumped 1.8 percent, climbing $22.30 to settle at $1,258.70 per ounce.

Among the hardest-hit stocks Wednesday are in sectors that benefited most from the post-election rally as investors banked on Trump to cut taxes, boost infrastructure spending and relax regulations that affect energy, finance and other businesses.


Banks fell sharply as bond yields declined, which will mean lower interest rates on loans. Bank of America slid $1.42, or 5.9 percent, to $22.57.

Unease over the potential implications of the latest political fallout in Washington weighed on the dollar Wednesday. The euro strengthened to $1.1150 from $1.1095. The dollar dropped to 111.11 yen from 113.03 yen.

Benchmark U.S. crude rose 41 cents, or 0.8 percent, to close at $49.07 per barrel in New York. Brent crude, used to price international oils, gained 56 cents, or 1.1 percent, to close at $52.21 per barrel in London. In other futures trading, natural gas fell 4 cents to $3.19 per 1,000 cubic feet. Wholesale gasoline was little changed at $1.60 per gallon. Heating oil rose 2 cents to $1.53 per gallon.

Among other commodities, silver added 16 cents to $16.85 per ounce. Copper was little changed at $2.54 per pound.

Markets overseas were also mostly lower.

In Europe, Germany's DAX fell 1.4 percent. The CAC 40 in France slid 1.6 percent. The FTSE 100 index of leading British shares dipped 0.2 percent. Asian markets mostly fell. Japan's Nikkei 225 dropped 0.5 percent, while South Korea's Kospi dipped 0.1 percent. Hong Kong's Hang Seng index slipped 0.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines...indexes-edge-higher-in-early-trading-oil-down

* Rally Powers Rebound in US Stocks a Day After Slump *
*Solid gains among phone companies and some retailers helped nudge U.S. stocks higher a day after the stock market had its biggest drop in eight months.*

By ALEX VEIGA, AP Business Writer

Solid gains among phone companies and some retailers helped nudge U.S. stocks higher on Thursday, a day after the stock market had its biggest drop in eight months. Banks also recouped some of their losses. Energy and materials stocks fell.

The rally came a day after the market's worst drop since September as political tumult deepened in Washington, stoking worries among investors that President Donald Trump may have trouble enacting tax cuts and other business-friendly policies.

"People may be wanting to put money to work in stocks, but the bonds they bought yesterday, they're still going to keep those as a little bit of a hedge, just in case," said JJ Kinahan, chief market strategist at TD Ameritrade.

The Standard & Poor's 500 index rose 8.69 points, or 0.4 percent, to 2,365.72. The Dow Jones industrial average added 56.09 points, or 0.3 percent, to 20,663.02. The Nasdaq composite index gained 43.89 points, or 0.7 percent, to 6,055.13. The Russell 2000 index of smaller stocks picked up 5.19 points, or 0.4 percent, to 1,361.08.

Bond prices slipped. The 10-year Treasury yield rose to 2.23 percent from 2.22 percent.

Despite the day's gains, the major stock indexes were still on course to end the week in the red.

Stocks appeared headed for another down day early Thursday following sell-offs in Asia and Europe. But better-than-expected quarterly results from Wal-Mart Stores and retailers such as L Brands helped lift the market.

Wal-Mart gained $2.42, or 3.2 percent, to $77.54, while L Brands rose $1.29, or 2.7 percent, to $49.69.

Traders also welcomed data from the Labor Department showing that applications for unemployment benefits fell last week to the lowest level in nearly three months.


Among other big movers: Incyte surged 6.9 percent on growing analyst optimism over the biopharmaceutical company's work developing cancer treatments. The stock gained $8.31 to $128.80.

Weak quarterly results from other companies sent those stocks lower.

Ascena Retail Group sank 27 percent after the retailer cut its forecast for its fiscal third quarter and full year, citing lagging customer traffic and other challenges. The stock lost 76 cents to $2.06.

Cisco Systems fell 7.2 percent a day after the internet gear maker said it expects revenue in its fiscal third quarter to be down from a year earlier. The company also said it was laying off 1,100 workers in addition to the 5,500 job cuts Cisco announced last August. The stock gave up $2.44 to $31.38.

Benchmark U.S. crude oil futures rose 28 cents, or 0.6 percent, to close at $49.35 a barrel in New York. Brent crude, used to price international oils, climbed 30 cents, or 0.6 percent, to settle at $52.51 a barrel in London. In other futures trading, natural gas fell 1 cent to $3.18 per 1,000 cubic feet. Wholesale gasoline was little changed at $1.60 per gallon. Heating oil rose 1 cent to $1.54 per gallon.

In metals trading, the price of gold fell $5.90 to settle at $1,252.80 per ounce. Silver lost 24 cents to $16.67 per ounce. Copper slipped 2 cents to $2.53 per pound.

The euro slipped to $1.1101 from $1.1150 on Wednesday. The dollar strengthened to 111.49 yen from 111.11 yen.

Major stock indexes overseas closed lower.

In Europe, Germany's DAX was down 0.3 percent, while France's CAC 40 was 0.5 percent lower. The FTSE 100 index of leading British shares was down 0.9 percent. In Asia, Japan's benchmark Nikkei 225 index slid 1.3 percent. South Korea's Kospi lost 0.3 percent. Hong Kong's Hang Seng shed 0.6 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ndexes-move-higher-in-early-trading-oil-rises

* US Stocks Close Broadly Higher; Oil Rises *
*Industrial companies led U.S. stocks higher, giving the stock market its second gain in two days.*

By ALEX VEIGA, AP Business Writer

Industrial companies led U.S. stocks higher Friday, giving the stock market its second gain in two days.

The rally was broad, with all 11 industry sectors in the Standard & Poor's 500 index closing higher. That included energy stocks, which climbed as the price of crude oil rose.

The gains helped trim some of the losses that traders booked two days earlier when the stock market posted its worst day in eight months amid deepening political turmoil in Washington.

Investors appeared to shrug off those concerns on Friday, preferring instead to focus on the latest batch of corporate earnings, which included solid results from Deere & Co. and other companies.

"If you took a week off, you probably thought you didn't miss much, because we're at about the same levels today as we were last Friday," said Sean Lynch, co-head of global equity strategy at Wells Fargo Investment Institute. "And yet, we spiked to a new all-time high on the S&P on Monday, we suffered the worst decline of the year on Wednesday, and again we're back within 1 percent of that all-time high today."

The S&P 500 index rose 16.01 points, or 0.7 percent, to 2,381.73. The Dow Jones industrial average added 141.82 points, or 0.7 percent, to 20,804.84. The Nasdaq composite index gained 28.57 points, or 0.5 percent, to 6,083.70. The Russell 2000 index of smaller stocks picked up 6.25 points, or 0.5 percent, to 1,367.33.

Four stocks rose for every one that fell on the New York Stock Exchange. Still, indexes ended the week lower.

Bond prices edged lower. The 10-year Treasury yield rose to 2.24 percent from 2.23 percent late Thursday.

Investors had grown concerned Wednesday that President Donald Trump's pro-business agenda could be hindered by fallout from allegations that he asked the FBI to end an investigation into former National Security Adviser Michael Flynn, sparking the steep sell-off.


But they remained in a buying mood Friday, nudging U.S. stock indexes higher early on, extending modest gains from the day before.

"It's clearly been a roller coaster week, with equities being swayed between political uncertainty and improving fundamentals," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. Despite the tumult in Washington, "President Trump's pro-growth agenda of tax reform, less regulation, infrastructure spend and the like, in our view, still remain drivers of higher stock prices."

Traders bid up shares in several companies like Deere & Co. that reported solid quarterly results Friday.

The heavy equipment maker's shares jumped $8.23, or 7.3 percent, to $120.90.

Autodesk vaulted 14.7 percent after the design software company raised its earnings forecast for the year and reported a loss in its latest quarter that was narrower than analysts were expecting. The stock was the biggest gainer in the S&P 500, adding $14.08 to $109.91.

McKesson jumped 8.2 percent after the prescription drug distributor reported earnings for its latest quarter that easily beat Wall Street's forecasts. Its shares gained $11.57 to $153.01.

Ross Stores rose 1.9 percent after the discount retailer also reported quarterly results that beat Wall Street's estimates. The stock picked up $1.13 to $62.20.

Some companies turned in disappointing results.

Foot Locker plunged 16.7 percent after the athletic footwear and apparel retailer's latest quarterly profits fell short of analysts' forecasts. The stock was the biggest decliner in the S&P 500, shedding $11.73 to $58.72.


Campbell Soup gave up 2 percent after the company turned in disappointing quarterly results. Its shares fell $1.16 to $55.78.

Energy futures closed higher. Benchmark U.S. crude oil gained 98 cents, or 2 percent, to close at $50.33 a barrel in New York. Brent crude, used to price international oils, rose $1.10, or 2.1 percent, to settle at $53.61 a barrel in London. In other futures trading, natural gas added 7 cents to $3.26 per 1,000 cubic feet. Wholesale gasoline gained 5 cents to $1.65 per gallon. Heating oil rose 4 cents to $1.58 per gallon.

Among metals, the price of gold inched up 80 cents to settle at $1,253.60 per ounce. Silver added 13 cents to $16.80 per ounce. Copper rose 5 cents to $2.58 per pound.

In currency trading, the dollar weakened to 111.20 yen from 111.49 yen on Thursday. The euro jumped to $1.1205 from $1.1101.

Several major indexes overseas also posted gains Friday.

Germany's DAX rose 0.4 percent, while France's CAC 40 gained 0.7 percent. Britain's FTSE 100 added 0.5 percent. In Asia, Japan's benchmark Nikkei 225 gained 0.2 percent. South Korea's Kospi added nearly 0.1 percent. Hong Kong's Hang Seng rose 0.3 percent.

7471


----------



## bigdog

https://www.usnews.com/news/busines...and-aerospace-companies-lead-us-stocks-higher

* Stocks Bounce Back as Technology and Defense Companies Climb *
*US stocks climb as the market continues to back from a turbulent week.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Strong gains for technology companies like software and chip makers helped lead U.S. stocks higher Monday. Defense contractors also climbed as the market continued to bounce back from a bout of turbulence last week.

Stocks rose for the third day in a row. Technology companies are closing in on all-time highs and continued to rise Monday, led by big names like Cisco Systems and Qualcomm.

Aerospace and defense companies rose after President Donald Trump presided over a huge sale of military equipment to Saudi Arabia. Amazon led consumer-focused companies higher. Energy companies lagged even though oil prices continued their recent climb.

Sameer Samana, a strategist for Wells Fargo Investment Institute, said people continue to spend more money on personal electronics while businesses invest in automation and software to boost their productivity.

"In a low-growth environment, you've got to squeeze more out of every dollar of investment," Samana said. At the same time, he added, some overseas markets have been stronger than expected this year.

The Standard & Poor's 500 index jumped 12.29 points, or 0.5 percent, to 2,394.02. The Dow Jones industrial average added 89.99 points, or 0.4 percent, to 20,894.83. The Nasdaq composite gained 49.91 points, or 0.8 percent, to 6,133.62. The Russell 2000 index of smaller-company stocks picked up 9.81 points, or 0.7 percent, to 1,377.14.

The technology component of the S&P 500 index has soared 18 percent this year, almost three times as much as the broader S&P 500. On Monday chipmaker Qualcomm gained $1.61, or 2.8 percent, to $59.28 and Cisco Systems, which sells equipment like routers, switches and software, rose 38 cents, or 1.2 percent, to $31.59. Adobe Systems picked up $2.42, or 1.8 percent, to $138.85 and design software maker Autodesk jumped $3.45, or 3.1 percent, to $113.36.


Both the S&P 500 and tech-heavy Nasdaq composite set records early last week before worries about growing political uncertainty in Washington, which could hamper President Trump's agenda of tax cuts and deregulation, knocked those indexes back from their highs. The Russell 2000 of smaller companies, which would benefit more than large ones from Trump's proposals, is down 3 percent from the record it set a month ago.

Samana said he thinks stocks will become more volatile in the coming months, but not because of politics. Instead, he thinks stocks will break out of their unusual calm because the Federal Reserve and European Central Bank will pull back on the stabilizing measures they've used since the global financial crisis.

"If they both start to lay the groundwork for pulling back on the extraordinary stimulus, that's probably the catalyst for a little bit more volatility," he said.

Aerospace and defense companies climbed after President Trump presided over a $110 billion sale of military equipment to Saudi Arabia. The agreement could expand to $350 billion over 10 years. Lockheed Martin climbed $4.24, or 1.6 percent, to $277.03 and Boeing gained $2.91, or 1.6 percent, to $183.67.

Amgen and its partner UCB said women who took their experimental osteoporosis drug Evenity were more likely to have serious cardiovascular problems than patients who took Fosamax, an older drug. The companies said that was a new safety concern and they no longer expect the Food and Drug Administration to approve Evenity this year. Amgen lost $3.49, or 2.2 percent, to $153.02.


Ford replaced CEO Mark Fields as it struggles to keep the traditional parts of its business running smoothly while it tries to remake itself as a nimble, high-tech automaker. In Fields' three years as CEO, popular cars like the Fusion sedan became dated and Ford lagged competitors in bringing long-range electric cars to market. Ford's new CEO is Jim Hackett, who has led Ford's mobility unit for more than a year.

Ford added 23 cents, or 2.1 percent, to $11.10. The stock is down 8.5 percent this year.

U.S-based Huntsman and Swiss specialty chemicals maker Clariant are merging to create a company with a market value of $13.8 billion. The company will call itself HuntsmanClariant and Clariant shareholders will own 52 percent of the new company. Huntsman stock slid 56 cents, or 2.1 percent, to $26.15 and Clariant stock rose 3.4 percent in Switzerland.

Oil prices continued to rally. Benchmark U.S. crude oil added 40 cents to $50.73 a barrel in New York. Brent crude, used to price international oils, rose 26 cents to $53.87 a barrel in London.

Wholesale gasoline gained 1 cent to $1.66 a gallon. Heating oil rose 2 cents to $1.60 a gallon. Natural gas climbed 7 cents, or 2.3 percent, to $3.33 per 1,000 cubic feet.

Gold rose $7.80 to $1,261.40 an ounce. Silver jumped 40 cents, or 2.4 percent, to $17.19 an ounce. Copper rose 1 cent to $2.60 a pound.

Bond prices moved a bit lower. The yield on the 10-year Treasury note inched up to 2.25 percent from 2.24 percent.

The dollar declined to 111.20 yen from 111.38 yen. The euro rose to $1.1234 from $1.1207.

In Britain, the FTSE 100 gained 0.3 percent. The German DAX dipped 0.2 percent and France's CAC lost a fraction of a percentage point. Japan's market rose following strong trade data. The benchmark Nikkei 225 gained 0.5 percent while the South Korean Kospi jumped 0.7 percent. Hong Kong's Hang Seng surged 0.9 percent.


----------



## bigdog

https://www.usnews.com/news/busines...h-higher-as-health-care-companies-gain-ground

* Stocks Claw Back More Lost Ground With 4th Straight Gain *

*US stocks continue to recover part of the ground they lost last week as banks rise in tandem with interest rates.*

*By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks rose for the fourth day in a row Tuesday as they continued to recover the ground they lost last week. Major indexes approached record highs again.

Most of the gains went to banks, which surged as bond yields jumped. That will allow them to charge higher rates on loans. Banks took steep losses last Wednesday, when stocks had their worst day since September. Scientific instrument companies and drugmakers also rose. However auto parts companies were hammered after poor third-quarter results from AutoZone and home builders fell after sales of new homes sank in April.

The four-day rally has restored most of the market's losses and the Standard & Poor's 500 index is almost back to record highs.

"The market was simply reminded that there's political risk out there and it reacted to that reminder," said Matthew Peterson, chief wealth strategist for LPL Financial. Peterson said he doesn't think long-term investors have made big changes to their portfolios in response to last week's drop, which followed allegations President Donald Trump asked the FBI to end an investigation into former National Security Adviser Michael Flynn.

Peterson says high stock prices and the calm market makes stocks more vulnerable to surprises from the political arena.

The S&P 500 added 4.40 points, or 0.2 percent, to 2,398.42. The Dow Jones industrial average edged up 43.08 points, or 0.2 percent, to 20,937.91. The Nasdaq composite rose 5.09 points, or 0.1 percent, to 6,138.71. The Russell 2000 index of small-company stocks gained 3.84 points, or 0.3 percent, to 1,380.98.

Bond prices turned lower. The yield on the 10-year Treasury note rose to 2.28 percent from 2.25 percent. That helped bank stocks like JPMorgan Chase, which gained $1.06, or 1.3 percent, to $85.76 and BB&T, which rose 63 cents, or 1.5 percent, to $43.03.


Scientific instrument maker Agilent Technologies raised its annual profit forecast after its second-quarter profit and sales beat Wall Street estimates. Its shares gained $2.58, or 4.6 percent, to $58.66. Industrial and medical device maker Danaher picked up $1.04, or 1.3 percent, to $83.95.

Auto parts retailer AutoZone took its worst one-day loss in eight and a half years as high costs and lower sales at older locations hurt its results. Its stock fell $78.09, or 11.8 percent, to $581.40. O'Reilly Automotive sank $8.28, or 3.3 percent, to $240.18 and Advance Auto Parts gave up $6.71, or 4.6 percent, to $140.66. All have tumbled this year as investors worried about slowing car sales.

Video game publisher Take-Two Interactive Software jumped after its fourth-quarter profit and sales surpassed analysts' expectations. The company's games include the "Grand Theft Auto" ''NBA2K" and "Sid Meier's Civilization" franchises. Take-Two stock jumped $3.79, or 5.5 percent, to $72.83, and it has doubled over the last year.

Rival Activision Blizzard added 68 cents, or 1.2 percent, to $57.80 and Electronic Arts rose 62 cents to $109.01.

Sales of new homes fell 11 percent in April from the month before, the biggest drop in more than two years. Sales had reached a nine-year high in March, and experts said the decline was most likely a blip. Homebuilder NVR fell $61.27, or 2.6 percent, to $2,296 and D.R. Horton lost 54 cents, or 1.6 percent, to $33.37. Home improvement retailer Lowe's lost $1.71, or 2 percent, to $82.34 and Home Depot also slipped.


Nokia climbed after the company said it settled its legal disputes with Apple. The two companies said they will work together and that Nokia will get a cash payment from Apple. The Finnish company was once the biggest cellphone maker in the world, but it sold its mobile phone business to Microsoft in 2014 and is now a network infrastructure provider. Its U.S. shares rose 33 cents, or 5.3 percent, to $6.54.

Fiat Chrysler sank after the U.S. government sued the automaker, saying some of diesel pickup trucks and Jeep SUVs included software that cheated emissions tests. The Department of Justice said the software let the vehicles' engines emit more pollution on the road than during Environmental Protection Agency lab testing.

Fiat Chrysler stock lost 44 cents, or 4.1 percent, to $10.32.

Benchmark U.S. crude oil added 34 cents to $51.47 a barrel in New York. Brent crude, used to price international oils, picked up 28 cents to $54.15 a barrel in London.

Wholesale gasoline remained at $1.66 a gallon and heating oil finished where it started, at $1.61 a gallon. Natural gas sank 11 cents, or 3.3 percent, to $3.22 per 1,000 cubic feet.

Gold fell $5.90 to $1,255.50 an ounce. Silver lost 5 cents to $17.14 an ounce. Copper remained at $2.60 a pound.

The dollar rose to 111.76 yen from 111.20 yen. The euro declined to $1.1185 from $1.1234.

European stocks traded slightly higher. The CAC 40 in France rose 0.5 percent. Germany's DAX and the FTSE 100 index in Britain both added 0.2 percent. Japan's Nikkei 225 lost 0.3 percent and the Hang Seng in Hong Kong rose 0.1 percent. The South Korean Kospi gained 0.7 percent.

*


----------



## bigdog

https://www.usnews.com/news/busines...end-rally-to-fifth-day-as-tech-companies-rise

* US Stocks Extend Gains to a 5th Day as Tech Companies Rise *

*Stocks rose for the fifth day in a row and the Standard & Poor's 500 set another record.*

*By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks rose for the fifth consecutive day Wednesday as investors went on a late buying spree. The gains came after news that the Federal Reserve plans to start reducing its huge portfolio of bonds. The Standard & Poor's 500 index closed at a record high.

Stocks were slightly higher for most of the day as the market kept chipping away at the losses it suffered one week before. Technology companies like TurboTax maker Intuit and materials companies including industrial gas company Praxair made some of the biggest gains.

In the afternoon the Federal Reserve released the minutes from its latest meeting. Officials discussed steps for shrinking the central bank's $4.5 trillion in bond holdings and Wall Street liked what it saw.

The Fed bought huge amounts of bonds during the global economic crisis in an effort to stimulate the economy. When the Fed suggested in April that it was considering reducing its portfolio, investors were unnerved. But when investors saw some details of how the plan might look, they were pleased.

"They're going to do it in a very careful, slow, and, at least by Fed standards, transparent method," said Ed Keon, a portfolio manager at QMA, a fund manager owned by Prudential Financial. "They're not going to do it in a way that runs the risk of shocking the market."

The Standard & Poor's 500 index picked up 5.97 points, or 0.2 percent, to 2,404.39. The Dow Jones industrial average gained 74.51 points, or 0.4 percent, to 21,012.42. The Nasdaq composite rose 24.31 points, or 0.4 percent, to 6,163.02. The Russell 2000 index of small-company stocks added 1.53 points, or 0.1 percent, to 1,382.51.

In the wake of the Fed's disclosure, bond prices turned higher. The yield on the 10-year Treasury note fell to 2.25 percent from 2.28 percent. High-dividend stocks including utility companies and real estate investment trusts climbed as investors looked for yield. NRG Energy jumped 88 cents, or 5.5 percent, to $16.76 and Simon Property Group gained $2.53, or 1.6 percent, to $159.78.


Industrial gas company Praxair rose after it agreed to terms with Germany's Linde. The companies said they would combine in an all-stock deal in December, part of a wave of consolidation in the chemical and materials industries. Praxair picked up $2.30, or 1.8 percent, to $132.27. Linde's German stock rose 2.8 percent.

Dow Chemical and DuPont, which are also planning to combine, rose as well. Dow picked up 67 cents, or 1.1 percent, to $61.45 and DuPont advanced $1.04, or 1.3 percent, to $78.38.

Accounting software maker Intuit had a stronger quarter than investors expected and Wall Street was also pleased with its forecasts. Its stock gained $8.68, or 6.7 percent, to $137.83. Other technology firms once again rallied. Hard drive maker Western Digital added $1.67, or 1.9 percent, to $89.70 and chipmaker Nvidia rose $1.54, or 1.1 percent, to $138.57.

General Electric slumped after CEO Jeffrey Immelt addressed an industry conference. Immelt suggested it will be tough for the company to reach the earnings targets some investors want to see. The stock fell 45 cents, or 1.6 percent, to $27.83. GE, which is seen as a bellwether for many different industries, has been trading at its lowest price in a year and a half.

Home improvement retailer Lowe's stumbled after investors were unimpressed by its profit and sales, as a hefty charge cut into its earnings in the first quarter. Lowe's shares fell $2.49, or 3 percent, to $79.85. Lowe's stock is flat over the last year while rival Home Depot has jumped 16 percent.


Sales for jewelry retailer Tiffany weren't as good as expected in the first quarter. The company changed CEOs in February as it struggled with competition from online retailers and had difficulty attracting younger customers. Its stock dropped $8.11, or 8.7 percent, to $85.03 and Signet Jewelry fell $3.85, or 6.6 percent, to $54.53.

Benchmark U.S. crude lost 11 cents to settle at $51.36 per barrel in New York while Brent crude, used to price international oils, sank 19 cents to $53.96 a barrel in London. Oil prices have rallied lately as members of the OPEC cartel and other countries prepare to meet and discuss production. Those nations are expected to extend last year's production cut in a concerted attempt to prevent oil prices from falling.

Wholesale gasoline gave up 1 cent to $1.65 a gallon. Heating oil remained at $1.61 a gallon. Natural gas lost 1 cent to $3.21 per 1,000 cubic feet.

Gold fell $2.40 to $1,253.10 an ounce. Silver lost 2 cents to $17.12 an ounce. Copper fell 1 cent to $2.58 a pound.

The dollar rose to 111.90 yen from 111.76 yen. The euro edged up to $1.1195 from $1.1185.

The FTSE 100 index in Britain was up 0.3 percent and Germany's DAX fell 0.2 percent. The CAC 40 in France was 0.2 percent lower. The Hang Seng in Hong Kong finished unchanged after Moody's downgraded the Chinese government's credit rating. The firm said it expects China's financial strength to erode as debt rises, but its rating for the country is still relatively high. Tokyo's Nikkei 225 rose 0.7 percent. The Kospi in South Korea gained 0.2 percent.

*


----------



## bigdog

http://www.ksla.com/story/35515912/retailers-help-send-indexes-to-records-on-6th-day-of-gains

*Retailers help send indexes to records on 6th day of gains*

By MARLEY JAY
AP Markets Writer

NEW YORK (AP) - U.S. stocks climbed for the sixth day in a row Thursday as strong first-quarter results from retailers like Best Buy and PVH led indexes to record highs. That offset weakness in energy stocks caused by a plunge in oil prices.

Stocks are on their longest winning streak in three months as retailers, technology companies, household products companies and health care firms made large gains.

The Nasdaq composite joined the Standard & Poor's 500 in setting record highs. While retailers that run stores jumped, their online rival Amazon also made a sizable gain as its stock price approached $1,000 for the first time.

Kate Warne, an investment strategist for Edward Jones, said she doesn't think Thursday's retail earnings are a sign that business for traditional retailers is getting better.

"It's probably not something investors should take as a sign of improvement in the retail landscape," she said. "Consumer spending is actually strong, but consumers are spending in places other than traditional retailers."

Small companies were mostly left out of the rally, however. And even though OPEC and a group of other oil-producing nations extended their cuts in production, the price of oil fell almost 5 percent and energy companies took steep losses.

The Standard & Poor's 500 index rose 10.68 points, or 0.4 percent, to 2,415.07. The Dow Jones industrial average gained 70.53 points, or 0.3 percent, to 21,082.95. The Nasdaq composite jumped 42.23 points, or 0.7 percent, to 6,205.26, above the record it notched last week. The Russell 2000 index edged up just 0.88 points, or 0.1 percent, to 1,383.39.

Electronics retailer Best Buy soared after it issued a strong first-quarter report, including better sales of mobile devices and gaming products. Its stock gained $10.83, or 21.5 percent, to $61.25. PVH, the owner of brands including Calvin Klein and Tommy Hilfiger, climbed $4.94, or 4.8 percent, to $106.98 after it raised its annual forecasts in the wake of its own strong report.

Other retailers including Guess, Abercrombie & Fitch and Burlington Stores also made substantial gains. Amazon rose $13.03, or 1.3 percent, to $993.38. Its stock peaked at $999 during the day.

A group of 24 countries including OPEC members and Russia said they will extend their production cuts for nine months in an effort to shore up oil prices. That was what most analysts expected, but investors appeared to have gotten their hopes up for a longer extension. And while oil prices have rallied over the last few weeks, experts were skeptical that the deal will do much to boost prices.

Benchmark U.S. crude lost $2.46, or 4.8 percent, to $48.90 a barrel in New York and Brent crude, the international standard, fell $2.50, or 4.6 percent, to $51.46 a barrel in London. Oilfield services company Schlumberger sagged $1.97, or 2.8 percent, to $69.39 and Marathon Oil dropped $1.03, or 7.1 percent, to $13.50.

Unlike the other major indexes, the Russell 2000 has not recouped all of its losses from last Wednesday, when the stock market had its worst day of the year. The index is comprised of smaller companies that tend to be more U.S.-focused, which means new challenges to President Donald Trump's proposed agenda of reduced taxes and regulations has hit those companies harder.

Warne, of Edward Jones, added that the performance of the U.S. economy has been mixed lately and international growth is looking better. That's helping larger companies that do more business overseas, like large technology firms, but it doesn't mean as much to smaller companies.

Technology companies made significant gains. Microsoft rose 85 cents, or 1.2 percent, to $69.62 and Google parent Alphabet also neared the millennial mark as it gained $14.25, or 1.5 percent, to $991.86. Apple added 53 cents to $153.87.

Jack Daniels maker Brown-Forman slumped after it put out a statement saying the company is not for sale and plans to remain under family control. The stock jumped Monday on reports that Constellation Brands, which makes Corona and Modelo beers, might try to buy Brown-Forman. The stock fell $2.74, or 5 percent, to $51.60. Constellation Brands gained $1.31 to $180.14.

Spam maker Hormel Foods sank as the company said its Jennie-O turkey business continued to struggle in the second quarter. The company's income and sales both fell short of Wall Street projections. Hormel's stock gave up $2.27, or 6.4 percent, to $33.13.

In other energy trading, wholesale gasoline skidded 4 cents to $1.61 a gallon. Heating oil lost 6 cents to $1.55 a gallon. Natural gas slid 3 cents to $3.18 per 1,000 cubic feet.

Gold rose $3.30 to $1,256.40 an ounce. Silver gained 8 cents to $17.19 an ounce. Copper rose 1 cent to $2.60 a pound.

Bond prices declined. The yield on the 10-year Treasury note rose to 2.26 percent from 2.25 percent.

The dollar dipped to 111.80 yen from 111.90 yen. The euro rose to $1.1205 from $1.1195.

Germany's DAX was down 0.2 percent and the French CAC 40 lost 0.1 percent. The FTSE 100 index in Britain was unchanged. The Nikkei 225 index in Tokyo climbed 0.4 percent and Hong Kong's Hang Seng rallied 0.8 percent. The Kospi of South Korea jumped 1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...lip-as-banks-and-technology-companies-decline


*NYSE CLOSED FOR MEMORIAL DAY HOLIDAY MONDAY MAY 29*

* More Records, Barely, as Stocks Rise for 7th Day *

*US stocks finish a bit higher and mark new records with their seventh gain in a row.*

*By MARLEY JAY, AP Markets Writer*

*NEW YORK (AP) — U.S. stocks made the tiniest of gains Friday as media companies and sellers of beauty products and food ticked higher. Major indexes added to their winning streak and record highs.*

*Stocks spent the day flipping back and forth between small gains and losses. Beauty products maker Ulta rose after a strong first-quarter report and competitor and Coty climbed as well. Media companies including Comcast and Disney also advanced while video game and drug companies slipped. The market has been steady in recent months, and with investors looking forward to the Memorial Day holiday Monday, trading was light.*

*It was the seventh gain in a row for the Standard & Poor's 500 index and Nasdaq composite following their biggest loss this year.*

*"Investors have been conditioned over multiple years to buy the dip any time there's a market pullback," said Jason Draho, the head of American tactical asset allocation for UBS Wealth Management. He said that's one reason stocks have been so steady lately.*

*The S&P 500 index added 0.75 points to 2,415.82. The Dow Jones industrial average dipped 2.67 points to 21,080.28. The Nasdaq composite rose 4.94 points, or 0.1 percent, to 6,210.19. The Russell 2000 index of small-company stocks fell 1.14 points, or 0.1 percent, to 1,382.24.*

*Some of the market's biggest moves were based on company earnings, and many of those came from consumer-focused companies. Ulta Beauty gained $9.36, or 3.1 percent, to $302.40. Costco Wholesale rose $3.13, or 1.8 percent, to $177.86 after the warehouse club had a strong quarter as sales and member payments both increased.*

*Uggs maker Deckers Outdoor turned in earnings that were stronger than expected, and its stock gained $10.64, or 18.8 percent, to $67.21.*


*GameStop's first-quarter results were stronger than analysts expected, but sales of new software and wireless devices were disappointing. The stock gave up $1.40, or 5.9 percent, to $22.22. Video game publishers also fell. Activision Blizzard lost 94 cents, or 1.6 percent, to $58.28 and Electronic Arts slid $1.70, or 1.5 percent, to $112.13. Take-Two Interactive Software shed $1.46, or 1.9 percent, to $77.07.*

*The VIX, an index that is called Wall Street's "fear gauge" because it measures how much volatility investors expect, fell for the seventh day in a row. After a huge spike last Wednesday, the 27-year-old index is trading near all-time lows. It sank to 9.81 Friday. The only time it was lower was late December 1993.*

*The Commerce Department said the U.S. economy grew 1.2 percent in the first quarter, which was still weak but better than it originally estimated. Draho, of UBS Wealth Management, said that when the economy is steady, the market usually is, too.*

*The U.S. economy and stock market have both been moving up for eight years. Draho said that as a bull market gets older, stocks don't move in the same direction as often. When one stock or one sector rises and another falls, that makes the overall market flatter and less volatile.*

*Crude oil prices bounced back from a sharp drop the day before. Benchmark U.S. crude rose 90 cents, or 1.8 percent, to $49.80 a barrel in New York. Brent crude, the international standard, added 69 cents, or 1.3 percent, to $52.15 a barrel in London.*

*On Thursday a group of 24 nations including the OPEC countries agreed to a nine-month extension of a cut in oil production. But energy companies, which have lagged the market dramatically this year, hardly budged. The S&P 500's energy company index is down 12 percent in 2017 while the broader S&P 500 is up almost 8 percent.*


*In other energy trading, wholesale gasoline added 3 cents to $1.64 a gallon. Heating oil gained 1 cent to $1.56 a gallon. Natural gas rose 5 cents to $3.24 per 1,000 cubic feet.*

*The dollar sank to 111.19 yen from 111.80 yen. The euro fell to $1.1176 from $1.1205.*

*As the dollar weakened, gold rose $11.70 to $1,268.10 an ounce and silver gained 13 cents to $17.32 an ounce. Copper fell 3 cents to $2.57 a pound.*

*Bond prices were little changed. The yield on the 10-year Treasury note held steady at 2.25 percent.*

*Germany's DAX lost 0.2 percent and the FTSE 100 in Britain rose 0.4 percent. The French CAC 40 fell by a fraction of a percentage point. Japan's benchmark Nikkei 225 index shed 0.6 percent but the South Korean Kospi climbed 0.5 percent. Hong Kong's Hang Seng was nearly unchanged.*

*7976*


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## Skate

Hi bigdog

Just a minor request - I prefer the article section of your post without the bold print - it's silly but your formatting in post #2828 is much nicer to read than the bold format that you have used in today's post #2829.

I appreciate your thread (it's the first article I read each day) 

I know you take pride in the colour formatting and it certainly adds value to your post -- the extra effort you take is appreciated.


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## bigdog

*MONDAY 29 2017 HOLIDAY IN NYSE AND Uk*






https://www.usnews.com/news/busines...uted-as-investors-await-raft-of-economic-data

* World Shares Muted as Investors Await Raft of Economic Data *
*World stock markets muted in holiday-thinned trading as investors hunker down ahead of economic data releases.*

By KELVIN CHAN, AP Business Writer

HONG KONG (AP) — World stock markets were listless Monday as investors look to a raft of economic data this week and as holidays in several key markets crimped trading volume.

KEEPING SCORE: In Europe, France's CAC 40 dipped 0.1 percent to close at 5,332.47, while Germany's DAX edged up 0.2 percent to 12,628.95. Markets in Britain and the United states were closed for holidays.

GLOBAL OUTLOOK: A full slate of economic reports this week will give investors plenty to digest, beginning with eurozone business and consumer confidence readings on Tuesday. China's latest official factory and service industry purchasing managers' indexes, out Wednesday, will be among the most watched, with analysts looking to see if the gauge indicates that manufacturing growth momentum slows further. The ISM index for U.S. manufacturing is due a day later. U.S. private and official payroll numbers are also scheduled for release. They'll give fresh clues on employment and hiring in the world's No. 1 economy and could bolster Fed policymakers' reasoning as they prepare to gradually raise interest rates again.

MARKET TALK: "Muted market action on Friday night, holidays in the U.K. and U.S. tonight and a data deluge starting tomorrow all militate against major market moves," said Michael McCarthy, chief strategist at CMC Markets. "Investors and trader may hold out for important reads on the world's largest economies this week."

ASIA'S DAY: Stock indexes in the region drifted between losses and gains. Japan's benchmark Nikkei 225 index ended a fraction lower at 19,682.57, and South Korea's Kospi dipped 0.1 percent to 2,352.97. Hong Kong's Hang Seng rose 0.2 percent to 25,701.63, while Australia's S&P/ASX 200 lost 0.8 percent to 5,707.10. Markets in mainland China and Taiwan were closed for holidays.


ENERGY: Oil futures extended a recovery from sharp losses last week. Benchmark U.S. crude rose 44 cents to $50.24 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 90 cents on Friday. Brent crude, the international standard, gained 40 cents to $52.55 a barrel in London.

CURRENCIES: The dollar edged down to 111.28 yen from 111.32. The euro dipped to $1.1181 from $1.1185.


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## bigdog

Markets in Hong Kong were closed for a holiday.


https://www.usnews.com/news/busines...tart-lower-as-energy-companies-and-banks-skid

* Banks Pull Stocks Away From Records as 7-Day Streak Ends *

*US stocks fall as banks drop in tandem with bond yields and small-company stocks take sharp losses.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — A seven-day winning streak for stocks came to a quiet end Tuesday as banks, especially smaller ones, dropped along with bond yields and interest rates. Energy companies also sank.

Investors snapped up government bonds and high-yield stocks including phone companies and utilities. As bond prices rose, yields and interest rates fell. That reduced the profits financial institutions can make from mortgages and other types of loans. Energy companies fell to their lowest prices in a year. Technology companies continued to soar while airlines slumped as investors worried that the government could expand a ban on laptops in passenger cabins during international flights, which could affect business travel.

Still, stocks remain close to their record highs. JJ Kinahan, chief market strategist for TD Ameritrade, said he thinks stocks will stay at high levels until more details about the Trump administration's tax proposals become public.

"Barring unforeseen events, it's really going to come down to progress and details about the tax plan," he said. "We've had this run up primarily on the fact that earnings have been good."

However Kinahan said he thinks it's likely Wall Street will be disappointed with any tax cut package that does pass, since the administration's proposals will likely be scaled back in Congress.

The Standard & Poor's 500 index lost 2.91 points, or 0.1 percent, to 2,412.91. The Dow Jones industrial average fell 50.81 points, or 0.2 percent, to 21,029.47. The Nasdaq composite dipped 7 points, or 0.1 percent, to 6,203.19. The Russell 2000 index of smaller-company stocks tumbled 11.05 points, or 0.8 percent, to 1,371.19.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.21 percent from 2.25 percent late Friday. With interest rates falling, JPMorgan Chase declined $1.46, or 1.7 percent, to $83.90. Smaller banks fell harder, as Hope Bancorp dropped 67 cents, or 3.7 percent, to $17.48 and First Financial Bancorp sank 75 cents, or 2.9 percent to $25.05.


Oil prices recovered from an early stumble and finished only slightly lower, but energy companies continued to fall. Hess dropped $1.47, or 3.1 percent, to $46.67 and Schlumberger shed 85 cents, or 1.2 percent, to $68.74. The S&P 500 index of energy companies reached its lowest level in a year. Benchmark U.S. crude lost 14 cents to $49.66 a barrel in New York. Brent crude, the international standard, fell 45 cents to $51.84 a barrel in London.

Technology companies continued to lead the way. Security software maker Symantec advanced 45 cents, or 1.5 percent, to $30.71. Chipmaker Nvidia gained $3.03, or 2.1 percent, to $144.87 and Micron Technology rose 95 cents, or 3.2 percent, to $30.71.

International airlines slumped as the government considered expanding a ban on laptops from the passenger cabins of flights to the United States. In March the Trump administration said passengers flying from 10 cities, mostly in the Middle East, had to check all devices larger than a smartphone. On Sunday, Homeland Security Secretary John Kelly said that ban might be expanded to all international flights to and from the U.S.

Delta Air Lines lost $1.74, or 3.4 percent, to $49.06 and United Continental slid $2, or 2.5 percent, to $79.25. American Airlines retreated 78 cents, or 1.6 percent, to $47.96.

Online retail giant Amazon.com traded above $1,000 a share for the first time, but didn't stay there. The stock peaked at $1,001.20 shortly after the market opened and wound up with a gain of 92 cents to close at $996.70. The only other S&P 500 company valued at more than $1,000 a share is travel booking site Priceline, which slipped to $1,857.45 Tuesday. Investors value Amazon at about $476 billion and Priceline at $91 billion.


E-commerce and payment services company First Data said it will buy payment processing company CardConnect for $15 a share in cash, or about $468 million. CardConnect's stock climbed $1.40, or 10.3 percent, to $15.05 and First Data picked up 18 cents, or 1.1 percent, to $16.82.

Offshore drilling contractor Atwood Oceanics jumped after it agreed to be bought by Ensco PLC for $10.72 a share in stock, or $863 million. Atwood rose $1.96, or 24.3 percent, to $10.04 while U.K.-based Ensco lost 34 cents, or 5.1 percent, to $6.36.

Cloud-based incentives company Xactly agreed to be taken private by Vista Equity Partners in a deal that values it at $15.65 a share, or $499 million. Its stock added $2.15, or 16 percent, to $15.55.

The dollar declined to 110.78 yen from 111.19 yen. The euro rose to $1.1188 from $1.1176.

In other energy trading, wholesale gasoline remained at $1.64 a gallon. Heating oil dipped 1 cent to $1.55 a gallon. Natural gas tumbled 17 cents, or 5 percent, to $3.15 per 1,000 cubic feet.

Gold lost $5.70 to $1,265.70 an ounce. Silver added 10 cents to $17.43 an ounce. Copper held still at $2.56 a pound.

The FTSE 100 index in Britain fell 0.3 percent and the French CAC 40 sank 0.6 percent. Germany's DAX dipped 0.2 percent. In Japan, the Nikkei 225 finished nearly flat and South Korea's Kospi dropped 0.4 percent. Markets in Hong Kong were closed for a holiday.
*
*


----------



## bigdog

https://www.usnews.com/news/busines...lide-as-energy-companies-fall-with-oil-prices

* US Stocks Slide Further as Banks and Energy Companies Sink *

*US stocks fall as banks weaken after executives say their trading businesses are having a rough quarter.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stock indexes edged lower for the second day in a row Wednesday as a sharp drop for banks and a rare loss for technology companies canceled out gains for drugmakers and consumer-focused companies.

Banks fell hard as executives from JPMorgan Chase and Bank of America said their trading businesses are having a rough second quarter. An eight-day winning streak for technology companies ended. Energy companies fell with oil prices. Investors picked consumer-focused companies, drugmakers, and high-dividend utilities and household goods companies. The New York Stock Exchange was evenly split between gainers and losers.

"The stock market has been strong and all the while bond yields have dropped during the year," signaling caution about the economy, said Brent Schutte, chief investment strategist for Northwestern Mutual Management. "In the next couple of months we're going to solve which is right: the bond market or the stock market."

The Standard & Poor's 500 index lost 1.11 points, or less than 0.1 percent, to 2,411.80. The Dow Jones industrial average dropped 20.82 points, or 0.1 percent, to 21,008.65. The Nasdaq composite fell 4.67 points, or 0.1 percent, to 6,198.52. The Russell 2000 index of small-company stocks slipped 0.99 points, or 0.1 percent, to 1,370.21.

Banks skidded a day earlier as bond yields dropped, which hurts banks by forcing interest rates on loans lower. Yields were little changed Wednesday, but financial firms fell again as investors worried that banks' revenue from trading stocks, bonds and currencies is going to weaken in the second quarter.

At a financial industry conference in New York, Marianne Lake, JPMorgan Chase's chief financial officer, said JPMorgan's trading revenue is down about 15 percent this quarter because of a drop in fixed-income trading. She said that was because of low interest rates and remarkably low market volatility.


"There is not a lot to trade around," she said. "People have cash but no conviction."

At a different industry event Wednesday, Bank of America CEO Brian Moynihan said second-quarter trading revenue will fall 10 percent compared to a year ago.

The banking industry had an outstanding first quarter, and trading was a key reason. JPMorgan Chase fell $1.75, or 2.1 percent, to $82.15 and Bank of America lost 43 cents, or 1.9 percent, to $22.41. Capital One slumped $1.36, or 1.7 percent, to $76.92 and Goldman Sachs, which saw its vaunted trading business hit a speed bump in the first quarter, gave up $7.16, or 3.3 percent, to $211.26.

Bond prices were little changed. The yield on the 10-year Treasury note remained at 2.21 percent.

Technology companies turned lower. The tech sector has reached its highest levels since the dot-com boom and companies like Apple, Google parent Alphabet and Facebook have done far better than the rest of the market in 2017. Apple and Facebook are up 32 percent this year, and Alphabet is up 25 percent. All three slid Wednesday.

Pfizer rose 52 cents, or 1.6 percent, to $32.65 and Irish drugmaker Perrigo climbed $4,93, or 7.3 percent, to $72.85 after its first-quarter report was better than expected. Health care products maker Johnson & Johnson advanced $1.14 to $128.25.

Benchmark U.S. crude lost $1.34, or 2.7 percent, to $48.32 a barrel in New York. Brent crude, the standard for international oil prices, fell $1.53, or 3 percent, to $50.31 a barrel in London. Energy stocks continued to decline. Exxon Mobil sank 60 cents to $80.50 and Hess declined 78 cents, or 1.7 percent, to $45.89.


Michael Kors Holdings hit a five-year low after it said it will close up to 125 stores as its sales have remained weak. The luxury retailer said sales at older stores dropped in its latest quarter and investors were disappointed with its projections for the current quarter. The stock tumbled $3.09, or 8.5 percent, to $33.18.

Solar power companies sank as investors wondered if President Donald Trump will seek to remove the U.S. from the Paris climate change accords. Officials from the European Union said the EU and China will maintain their commitments to the pact.

Shares of First Solar, the largest U.S. solar company, declined 99 cents, or 2.5 percent, to $38.51. SunPower fell 28 cents, or 3.4 percent, to $7.87 while solar wafer maker Canadian Solar retreated 73 cents, or 5.4 percent, to $12.81.

The dollar slipped to 110.57 yen from 110.78 yen. The euro rose to $1.1246 from $1.1188.

In other energy trading, wholesale gasoline lost 3 cents to $1.61 a gallon. Heating oil gave up 3 cents to $1.52 a gallon. Natural gas dropped 7 cents to $3.07 per 1,000 cubic feet.

Gold rose $9.70 to $1,265.40 an ounce. Silver fell 2 cents to $17.41 an ounce. Copper gained 2 cents to $2.58 a pound.

European stocks gave up an early gain. The DAX in Germany remained up 0.1 percent, but France's CAC 40 lost 0.4 percent and the British FTSE 100 fell 0.1 percent. Japan's Nikkei 225 index dipped 0.1 percent and South Korea's Kospi gained 0.2 percent. The Hang Seng in Hong Kong inched down 0.1 percent.
*
___

*


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## bigdog

https://www.usnews.com/news/busines...s-p-500-touches-record-after-better-jobs-data

* Stocks Rise, S&P 500 Nears Record After Better Jobs Data *
*Yet another sign that the job market is continuing to improve helped send stocks and bond yields higher.*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Yet another sign that the job market continues to improve is driving stocks and bond yields higher on Thursday. The Standard & Poor's 500 index is on track for its first up day in three and crossed above the 2,420 level for the first time.

KEEPING SCORE: The S&P 500 index rose 9 points, or 0.4 percent, to nearly 2,421, as of noon Eastern time. If it holds steady for the rest of the day, it would top its record closing level of 2,415.82 set last week.

The Dow Jones industrial average was up 48 points, or 0.2 percent, to 21,057. The Nasdaq composite rose 25, or 0.4 percent, to 6,223. Smaller stocks were doing better than the rest of the market. The small-cap Russell 2000 index added 14 points, or 1 percent, to 1,384.

JOB JUMP: Employers continue to hire more workers. Payroll processor ADP said private businesses added 253,000 jobs last month, more than economists expected and an acceleration from April. It's a reassurance, particularly when growth of the overall economy has remained frustratingly tepid.

The more comprehensive jobs report from the U.S. government arrives on Friday. It will include hiring by all non-farm employers, and economists expect it to show growth of 176,000 jobs in May.

A separate report showed that the number of workers filing for unemployment claims rose last week, which could be an indication that layoffs are on the rise. The number remains low by historical standards.

INTEREST RATES: The better-than-expected jobs data encouraged investors to move money out of Treasury bonds and into riskier investments. With the drop in Treasury prices, the yield on the 10-year note inched up to 2.22 percent from 2.21 percent late Wednesday. The 30-year Treasury yield rose to 2.88 percent from 2.87 percent.


A stronger job market gives the Federal Reserve more leeway to raise interest rates, and its next meeting on rate policy is in two weeks. The central bank has been gradually pulling rates off their record low following the Great Recession, and it has raised them twice since December.

ACROSS THE ECONOMY: Other reports on the U.S. economy were mixed. Manufacturing growth picked up last month and was stronger than economists were expecting, but construction spending unexpectedly weakened in April.

OH, DEERE: Deere shares rose $2.90, or 2.4 percent, to $125.36 after it agreed to buy Wirtgen Group, a German maker of road-construction equipment for about 4.6 billion euros, or $5.2 billion, including debt.

FIVE STARS: Dollar General rose $2.38, or 3.2 percent, to $75.77 after it reported stronger earnings for the latest quarter than analysts expected.

SINKING: Hewlett Packard Enterprise fell $1.29, or 6.9 percent, to $17.52 for the biggest drop in the S&P 500 after it reported a weaker quarter than analysts expected.

CURRENCIES: The dollar rose to 111.30 Japanese yen from 110.57 yen late Wednesday. The euro fell to $1.1210 from $1.1246, and the British pound dipped to $1.2885 from $1.2892.

COMMODITIES: Benchmark U.S. crude oil rose 78 cents to $49.10 per barrel. Brent crude, used to price international oils, gained 62 cents to $51.38 per barrel.

Gold fell $9.50 to $1,265.90 per ounce, silver dropped 21 cents to $17.20 per ounce and copper added a penny to $2.59 per pound.

MARKETS OVERSEAS: France's CAC-40 gained 0.7 percent, Germany's DAX advanced 0.4 percent and London's FTSE 100 added 0.3 percent. Tokyo's Nikkei 225 advanced 1.1 percent, Hong Kong's Hang Seng rose 0.6 percent, and South Korea's Kospi shed 0.1 percent.


TRUMP AND CLIMATE: President Donald Trump was preparing to announce whether he will pull the United States out of the 195-nation Paris agreement to combat global warming by reducing carbon emissions. U.S. allies around the world sounded alarms about the likely consequences of an American withdrawal. Abandoning the pact would isolate the U.S. from allies who spent years negotiating the 2015 agreement.


----------



## bigdog

https://www.usnews.com/news/busines...to-2017-low-stocks-hug-close-to-record-levels

* Stocks Set Records Again; Bond Yields Sink After Jobs Report *

*Bond yields sank Friday and touched their lowest level of the year after job growth across the country proved to be weaker than expected last month.*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Bond yields sank Friday to their lowest level of the year, and the dollar's value fell against rivals after the nation's job growth slowed last month. But stock indexes chugged again to record heights, led by technology companies and dividend payers.

Yields fell immediately after the government said that employers added 138,000 jobs last month, which was short of economists' expectations and a slowdown from April's hiring. The yield on the 10-year Treasury dropped to 2.15 percent from 2.21 percent late Thursday and hit its lowest level since mid-November.

The government's jobs report also said that hiring was weaker in March and April than earlier reported. The unemployment rate fell to 4.3 percent last month, its lowest level since 2001.

Stocks opened for trading an hour after the release of the jobs report, and they were higher for nearly the entire day. The Standard & Poor's 500 index rose 9.01 points, or 0.4 percent, to 2,439.07. The Dow Jones industrial average gained 62.11, or 0.3 percent, to 21,206.29, and the Nasdaq composite added 58.97, or 0.9 percent, to 6,305.80. All three indexes added to records set on Thursday.

Many economists say they don't expect the latest jobs report to dissuade the Federal Reserve from raising interest rates again at its next policy meeting in two weeks. The job market and inflation remain strong enough, they say. The central bank has been trying to pull rates gradually off their record low following the Great Recession, and it has raised rates twice since December.

Friday's jobs report slots in with a series of mixed economic reports that show continued modest gains, but no big acceleration. The economy grew at an annual rate of 1.2 percent in the first three months of the year, for example. That's a relatively weak showing but better than first estimated.


"Is the glass half-full or half-empty on the economic statistics?" asked Rich Weiss, senior portfolio manager at American Century Investments. "I don't know, but it's only half."

Weiss said he's been cautious on U.S. stocks given the continued tepid pace of growth, particularly as indexes have climbed to record after record this year.

"If you were a Martian and looked at the economic stats, you would not be pouring money into the equity market, or at least the U.S. equity market," he said.

Friday's drop in interest rates helped boost stocks in industries that pay big dividends. Real-estate investment trusts rose twice as fast as the overall S&P 500, for example. Dividends look more attractive to income investors when bonds are paying less in interest.

Technology stocks had the day's biggest gains, with those in the S&P 500 jumping 1 percent. It's the latest move higher for the streaking sector, which is already up 21.3 percent for the year. That's by far the biggest gain among the 11 sectors that make up the S&P 500.

Chipmaker Broadcom jumped to the biggest gain in the S&P 500 after reporting stronger quarterly revenue and profit than analysts had forecast. It rose $19.94, or 8.5 percent, to $254.53.

Lululemon gained $5.62, or 11.5 percent, to $54.29 after the athletic apparel company reported better results for the latest quarter than analysts expected.

On the opposite end were energy stocks, which deepened their losses for 2017 after the price of oil sank. Benchmark U.S. crude oil fell 70 cents, or 1.4 percent, to settle at $47.66 per barrel. Brent crude, used to price international oils, sank 68 cents to $49.95 per barrel.


Energy stocks in the S&P 500 lost 1.2 percent Friday, and they're down 14 percent for the year when the overall index is up 8.9 percent.

Gold rose $10.10 to $1,280.20 per ounce, silver added 24 cents to $17.53 per ounce and copper lost 1 cent to $2.57 per pound.

Natural gas was close to flat at $3.00 per 1,000 cubic feet, wholesale gasoline fell 2 cents to $1.58 per gallon and heating oil dipped 2 cent to $1.48 per gallon.

The dollar fell to 110.50 Japanese yen from 111.33 yen late Thursday. The euro rose to $1.1276 from $1.1214, and the British pound rose to $1.2880 from $1.2876.

Japan's Nikkei 225 index rose 1.6 percent to cross above the 20,000 level for the first time since 2015. Hong Kong's Hang Seng index rose 0.4 percent, and South Korea's Kospi jumped 1.2 percent.

In Europe, Germany's DAX gained 1.2 percent, and the French CAC 40 rose 0.5 percent. The FTSE 100 in London added 0.1 percent.

8574


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## bigdog

https://finance.yahoo.com/m/44afcc4...b7913b3/ss_us-stock-indexes-close-lower,.html

*US stock indexes close lower, slide below record high levels*




ALEX VEIGA

U.S. stock indexes edged mostly lower in early trading Monday, June 5, 2017, led by a slump in real estate companies. Technology stocks and banks bucked the broader market slide

U.S. stocks closed slightly lower Monday, capping a mostly quiet day of trading that eased the market back from record highs set late last week.

Utilities and materials companies posted some of the biggest losses. Energy stocks led the gainers, even as crude oil prices declined. Technology companies and banks also bucked the downward trend. Google parent Alphabet closed above $1,000 a share for the first time.

The dip snapped a two-day winning streak for stocks, which have been mostly pushing higher this year. The major stock market indexes hit new highs last Thursday and Friday.

"Equities are digesting the gains from last week," said Michael Baele, senior portfolio manager at U.S. Bank Private Wealth Management.

The Standard & Poor's 500 index dipped 2.97 points, or 0.1 percent, to 2,436.10. The Dow Jones industrial average fell 22.25 points, or 0.1 percent, to 21,184.04. The Nasdaq composite index lost 10.11 points, or 0.2 percent, to 6,295.68.

Small-company stocks fell more than the rest of the market. The Russell 2000 slid 8.94 points, or 0.6 percent, to 1,396.45. Three stocks fell for every two that rose on the New York Stock Exchange.

Encouraging economic data, low interest rates, strong consumer confidence and solid company earnings have helped keep investors in a buying mood this year, driving U.S. stocks higher.

"All these positives are holding the market up here and are likely to help stocks grind higher for the rest of the year," Baele said.

Even so, trading got off to a subdued start Monday and largely remained that way, reflecting a dearth of new major economic data and relatively few company earnings releases.

Traders had their eye on geopolitical developments, including the terror attacks in London over the weekend and the decision by a Saudi-led coalition to withdraw their diplomatic staff from Qatar over its support for Islamist groups and its relations with Iran.

Benchmark U.S. crude slid 26 cents, or 0.5 percent, to close at $47.40 a barrel in New York. Brent crude, used to price international oils, fell 48 cents, or 1 percent, to close at $49.47 a barrel in London.

Bond prices fell. The 10-year Treasury yield inched up to 2.18 percent from 2.19 percent late Friday, when it sank to its lowest level of the year.

Investors bid up shares of some technology companies, giving the sector a slight gain. Among them: Google's parent Alphabet, which eclipsed the $1,000 per share threshold for the first time. The search giant's stock added $7.76, or 0.8 percent, to $1,003.88.

Herbalife was among the day's big movers. The seller of supplements and weight-loss products slid 6.7 percent after it lowered its second-quarter revenue and volume projections. The company noted that a switch to new sales tactics is affecting its business in the U.S., and sales in Mexico were weak. The stock lost $4.93 to $68.99.

Forestar Group surged 12.7 percent after homebuilder D.R. Horton offered to buy a 75 percent stake in the real estate and natural resources developer for $16.25 a share. Forestar rose $1.80 to $16. D.R. Horton shed 50 cents, or 1.5 percent, to $33.29.

Loxo Oncology vaulted 43 percent after the drug developer received encouraging results from an experimental drug that targets a rare genetic tumor abnormality. Loxo shares jumped $21.14 to $70.12.

Several of the major overseas stock indexes closed lower.

Britain's FTSE 100 slipped 0.3 percent as investors focused on the fallout from Saturday's attack in London, which killed seven people. The attack comes ahead of Thursday's general election. France's CAC 40 fell 0.7 percent and the German stock exchange was closed for a holiday.

Qatar's main stock index tumbled 7.3 percent after Bahrain, Egypt, Saudi Arabia and the United Arab Emirates announced they would withdraw their diplomatic staff from Qatar. In Asia, Japan's Nikkei 225 ended flat, while Hong Kong's Hang Seng fell 0.2 percent.

In other energy trading, wholesale gasoline lost 4 cents, or 2.5 percent, to $1.54 per gallon. Heating oil dipped 3 cents to $1.46 per gallon. Natural gas dipped 2 cents to $2.98 per 1,000 cubic feet.

Among metals, gold rose $2.50 to $1,282.70 per ounce. Silver added 6 cents to $17.58 per ounce, while copper lost 2 cents to $2.56 per pound.

In currency trading, the euro fell to $1.1255 from $1.1276 on Friday. The dollar weakened to 110.49 from 110.50 yen.


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## bigdog

https://finance.yahoo.com/m/ad9748c...039db91/ss_retailers-lead-us-stocks-to-a.html

*Retailers lead US stocks to a second day of modest losses*




ALEX VEIGA

Retailers led a modest slide in U.S. stocks Tuesday as the market eased back for the second day in a row, pulling it further below record highs set late last week.

Macy's sank more than 8 percent after warning that its profit margins could be weaker than the company had forecast earlier. Several other retailers, including Conn's and Casey's General Stores, also slumped after issuing disappointing quarterly results or outlooks.

Banks and other financial companies also posted losses as the yield on the 10-year Treasury slipped to 2.14 percent, the lowest level since November. Lower bond yields mean lower interest rates on loans, which hurt banks' profits.

Energy stocks notched the biggest gain as crude oil prices rebounded.

"This is a market that's taking a breather and is prepared to move, the question is in which direction?" said Quincy Krosby, a market strategist at Prudential Financial. "Perhaps the move is going to be, in the short term, a pullback and perhaps that's another reason we have money going into the Treasury markets as a hedge."

The Standard & Poor's 500 index fell 6.77 points, or 0.3 percent, to 2,429.33. The Dow Jones industrial average slid 47.81 points, or 0.2 percent, to 21,136.23. The Nasdaq composite index lost 20.63 points, or 0.3 percent, to 6,275.06.

Small-company stocks fared better than the rest of the market. The Russell 2000 gave up 1.55 points, or 0.1 percent, to 1,394.90.

Despite the two-day market slide, the major indexes remain near their most recent record highs set Friday.

For the second day in a row, trading got off to a subdued start Tuesday as investors sized up the latest batch of company earnings and economic news.

The Labor Department provided some encouragement early on, reporting that job openings rose 4.5 percent in April to more than 6 million, the most since December 2000, when the government began tracking the data. Still, hiring fell 4.8 percent.

On Friday, the government reported that employers added just 138,000 jobs last month, about one-third below last year's average monthly gain.

Investors found little encouragement in the latest crop of outlooks from several big retailers Tuesday.

In a presentation to investors, Macy's Chief Financial Officer Karen Hoguet said the company's gross margins could fall more than Macy's expected a couple of months ago, with the first half of the year especially weak. The company continues to grapple with too much holiday inventory and a lot of discounts on beauty products.

Macy's was the biggest decliner in the S&P 500, losing $1.96, or 8.2 percent, to $21.90.

Other department store chains also fell. Kohl's slid $2.19, or 5.8 percent, to $35.73. Nordstrom gave up $1.51, or 3.6 percent, to $40.14.

Conn's sank 9.1 percent after the furniture and mattress retailer issued a disappointing second-quarter outlook for sales at its established stores. The stock declined $1.73 to $17.15.

Casey's General Stores slid 8.4 percent after the convenience store operator's latest quarterly report card fell short of analysts' expectations. The stock fell $9.84 to $106.66.

Not all retailers had a bad day.

G-III Apparel Group climbed 15.2 percent after the owner of Wilsons Leather and G.H. Bass stores posted better-than-expected quarterly results. The company also raised its estimates for the year. G-III Apparel shares added $3.03 to $22.92.

A weak report on retail sales in the 19-country eurozone weighed on European stock indexes. Germany's DAX was down 1 percent, while France's CAC 40 was 0.7 percent lower. Britain's FTSE 100 was flat ahead of the U.K. election on Thursday. In Asia, Japan's benchmark Nikkei 225 dipped nearly 1.0 percent, while Hong Kong's Hang Seng edged up 0.5 percent. South Korean markets were closed for a holiday.

In energy futures trading, crude oil prices rebounded after an early slide. Benchmark U.S. crude gained 79 cents, or 1.7 percent, to close at $48.19 a barrel in New York. Brent crude, used to price international oils, added 65 cents, or 1.3 percent, to finish at $50.12 a barrel in London.

Wholesale gasoline rose 2 cents, or 1.1 percent, to $1.55 per gallon. Heating oil added a penny to $1.47 per gallon. Natural gas gained 6 cents, or 2 percent, to $3.04 per 1,000 cubic feet.

Among metals, gold added $14.80, or 1.2 percent, to $1,297.50 per ounce. Silver rose 13 cents to $17.71 per ounce, while copper lost a penny to $2.55 per pound.

In currency trading, the dollar weakened to 109.54 yen from 110.49 yen on Monday. The euro increased to $1.1271 from $1.1255.


----------



## bigdog

https://www.usnews.com/news/busines...dexes-edge-higher-in-early-trading-oil-slides

* Banks Lead US Stocks Slightly Higher; Oil Slumps *

*Banks and other financial companies led U.S. stocks slightly higher Wednesday, snapping a two-day losing streak for the market.*

By ALEX VEIGA, AP Business Writer

Banks and other financial companies led U.S. stocks slightly higher Wednesday, snapping a two-day losing streak for the market.

The latest gains were partially offset by a slide in energy companies following a steep slump in the price of U.S. crude oil, which fell 5.1 percent, its biggest single-day drop in nearly three months.

Trading was mostly subdued, with the major indexes trading in a narrow range as investors sized up the latest company earnings and looked ahead to testimony Thursday from former FBI Director James Comey, part of a congressional investigation into Russia's possible election meddling.

"From an investor perspective it would be nice to get another potential distraction out of the way and move toward the threefold mandate of the Trump administration: deregulation, reduced taxes and improved infrastructure, because they have been delayed, delayed and delayed," said Erik Davidson, chief investment officer for Wells Fargo Private Bank.

The Standard & Poor's 500 index rose 3.81 points, or 0.2 percent, to 2,433.14. The Dow Jones industrial average gained 37.46 points, or 0.2 percent, to 21,173.69. The Nasdaq composite index added 22.32 points, or 0.4 percent, to 6,297.38. The Russell 2000 index of small-company stocks picked up 1.78 points, or 0.1 percent, to 1,396.67.

The major indexes remain slightly below record highs set late last week.

Stocks wavered between small gains and losses early Wednesday as investors weighed the latest company earnings reports.

Comey's appearance before the Senate intelligence committee will be his first public comments since he was abruptly ousted by President Donald Trump on May 9. The former director's associates say Trump asked Comey if he could back off an investigation into Michael Flynn, who was fired as national security adviser because he misled the White House about his ties to Russia.


Investors will try to glean how the outcome of the hearing may play into the administration's efforts to forge ahead with Trump's pledge to cut taxes, increase infrastructure spending and implement other business-friendly policies.

Financials were the biggest gainers in the S&P 500, rising 0.8 percent. The sector is up 23 percent this year.

Speculation that the Federal Reserve may raise its key interest rate at a meeting of policymakers next week likely helped lift the sector on Wednesday, said Davidson. Higher interest rates allow banks and credit card issuers to charge more for loans, which boosts profits.

JPMorgan Chase gained 95 cents, or 1.2 percent, to $83.91. American Express rose $96 cents, or 1.2 percent, to $79.81.

Oil futures fell sharply after a report showed that U.S. crude stockpiles grew 3.3 million barrels last week. Experts had expected stockpiles to shrink by 3.5 million barrels. Benchmark U.S. crude slid $2.47, or 5.1 percent, to close at $45.72 per barrel in New York. Brent crude, used to price international oils, fell $2.06, or 4.1 percent, to settle at $48.06 per barrel in London.

The steep slide in oil prices sent several oil and gas drilling companies lower. Newfield Exploration was the biggest decliner in the S&P 500, losing $2.16, or 7 percent, to $28.90. Helmerich & Payne fell $3.22, or 6 percent, to $50.08. Rig operator Transocean gave up 51 cents, or 5.6 percent, to $8.59.

Investors also kept an eye on company earnings Wednesday.

Carvana jumped 32.8 percent after the online used car seller posted its first quarterly results as a public company and issued a forecast that exceeded Wall Street's expectations. The stock climbed $3.13 to $12.66.


Duluth Holdings slumped 18.6 percent after the clothing and tools supplier reported disappointing earnings. The stock slid $3.82 to $16.75.

Video compression chip maker Ambarella sank 10.2 percent after its guidance on sales of vision chips used by drones stoked concern among investors. The stock gave up $6.12 to $53.60.

Bond prices fell. The 10-year Treasury yield rose to 2.18 percent from 2.15 percent late Tuesday.

The dollar rose to 109.83 yen from Tuesday's 109.54 yen. The euro weakened to $1.1252 from $1.1271.

Among metals, gold slipped $4.30 to $1,293.20 per ounce. Silver lost 9 cents to $17.62 per ounce. Copper held steady at $2.55 per pound.

In other energy futures trading, wholesale gasoline shed 6 cents, or 4.1 percent, to $1.49 per gallon. Heating oil gave up 5 cents, or 3.4 percent, to $1.42 per gallon. Natural gas dipped 2 cents to $3.02 per 1,000 cubic feet.

In Europe, London's FTSE 100 slid 0.6 percent ahead of Thursday's British elections. Traders were also looking ahead to a policy meeting of the European Central Bank on Thursday. Germany's DAX slipped 0.1 percent, while France's CAC 40 fell 0.1 percent. In Asia, Tokyo's Nikkei 225 and Sydney's S&P-ASX 200 were unchanged. Hong Kong's Hang Seng fell 0.2 percent. Seoul's Kospi shed 0.4 percent.


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## bigdog

https://finance.yahoo.com/m/6836596b-c496-33cb-8031-9de78afe7885/ss_modest-gains,-led-by-banks,.html

*Modest gains, led by banks, push US stock indexes higher*




ALEX VEIGA

Financial companies led U.S. stock indexes higher Thursday, nudging the Nasdaq composite index to a record high.

The latest gains came as the stock market continued to trade mostly in a narrow range in the absence of major new economic data and ahead of next week's meeting of Federal Reserve policymakers.

Speculation that the Fed will raise interest rates helped boost financial stocks for the second day in a row. Higher interest rates allow banks and credit card issuers to charge more for loans, which boosts profits.

Utilities and consumer goods companies were among the biggest decliners. Energy stocks also fell as crude oil prices declined.

"(Today) is a continuation of fairly muted market action," Bill Northey, chief investment officer at U.S. Bank Wealth Management. "We've been in a very low volatility period of time. We're also a bit between material economic events."

The Standard & Poor's 500 index gained 0.65 points, or 0.03 percent, to 2,433.79. The Dow Jones industrial average rose 8.84 points, or 0.04 percent, to 21,182.53. Both indexes remain slightly below their record highs set last Friday.

The Nasdaq added 24.38 points, or 0.4 percent, to 6,321.76. Small-company stocks fared better than the rest of the market. The Russell 2000 index climbed 18.94 points, or 1.4 percent, to 1,415.61.

Bond prices fell. The 10-year Treasury yield rose to 2.19 percent from 2.18 percent late Wednesday.

Stocks wavered between small gains and losses through much of the day as investors tuned in to watch former FBI Director James Comey testify before Congress as part of the investigation into Russian meddling into the U.S. presidential election.

In his testimony, Comey's first public statements since his May 9 dismissal, he told Congress that President Donald Trump's administration spread "lies" about him and the FBI after his abrupt firing in May. Comey also asserted that Trump fired him to interfere with his investigation of Russia's role in the 2016 election and its ties to the Trump campaign.

Stock indexes barely budged throughout the hearing, the public portion of which wrapped around midday.

"Today did not turn into a market event, nor did it accelerate the path toward further progress on the legislative and administrative agenda," Northey said.

Investors have been looking for more progress out of the White House on its agenda to cut taxes, increase infrastructure spending and implement other business-friendly policies.

The Republican-led House took steps Thursday to advance Trump's pledge to ease regulations on businesses by taking a vote on legislation that would undo the stricter banking rules that took effect after the devastating 2008 financial crisis. That helped lift bank stocks.

Goldman Sachs Group picked up $2.98, or 1.4 percent, to $218.76. JPMorgan Chase added $1.04, or 1.2 percent, to $84.95. Regions Financial gained 44 cents, or 3.2 percent, to $14.03.

Traders also welcomed news that members of the Nordstrom family are considering taking the company private.

Like Macy's and other big department store chains, Nordstrom has struggled to cope with competition from online retailers. The company, which has 354 stores in the U.S. and Canada, has seen its stock tumble by half since early 2015. On Thursday, the stock soared $4.15, or 10.3 percent, to $44.63.

Several companies that reported improved earnings or outlooks also traded higher.

Verint Systems rose 3.2 percent after the maker of software for analyzing intercepted communications had a strong first quarter. The stock added $1.35 to $43.45.

Investors cheered Alibaba Group Holding's latest revenue forecast. Shares in the Chinese e-commerce company gained $16.70, or 13.3 percent, to $142.34.

Some companies failed to impress traders.

Urban Outfitters slid 10.3 percent after the retailer said sales at older stores are running lower than expected this month. That followed weak sales in May. The stock shed $1.88 to $16.35.

Benchmark U.S. crude wavered for much of the day before sliding 8 cents to settle at $45.64 a barrel in New York. Brent crude, used to price international oils, fell 20 cents to close at $47.86 per barrel in London. Wholesale gasoline held steady at $1.49 per gallon. Heating oil rose 1 cent to $1.42 per gallon. Natural gas added 1 cent to $3.03 per 1,000 cubic feet.

The dollar rose to 109.94 yen from Wednesday's 109.83 yen. The euro weakened to $1.1222 from $1.1252.

In metals trading, gold fell $13.70, or 1.1 percent, to $1,279.50 per ounce. Silver lost 21 cents, or 1.2 percent, to $17.41 per ounce. Copper gained 6 cents, or 2.3 percent, to $2.61 per pound.

European stock markets were mixed after the European Central Bank kept its stimulus program unchanged. ECB President Mario Draghi said Thursday that risks to the European economic recovery have diminished. Germany's DAX rose 0.3 percent, while France's CAC 40 slipped 0.2 percent. Britain's FTSE 100 fell 0.4 percent as Britain went to the polls in a general election.

In Asia, Japan's benchmark Nikkei 225 index lost 0.3 percent, while South Korea's Kospi edged up 0.2 percent. Hong Kong's Hang Seng rose 0.3 percent. Australia's S&P/ASX 200 added 0.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines...stocks-lead-early-gains-for-us-market-indexes

* Dow, Russell 2000 Hit New Highs; Uneven Finish for US Stocks *

*Wall Street turned in an uneven finish as investors unloaded their technology company shares in favor of energy and financial stocks.*

By ALEX VEIGA, AP Business Writer

Wall Street turned in an uneven finish Friday as investors unloaded their technology company shares in favor of energy and financial stocks.

The tech-heavy Nasdaq composite, which has outpaced gains by other U.S. stock indexes this year, fell the most. The Standard & Poor's 500 index closed slightly lower.

Even with the sell-off in technology stocks, the Dow Jones industrial average and the Russell 2000 index of small-company stocks closed higher, each setting new highs.

"We're seeing investors rotate out of the international stocks and into the U.S. stocks in general," said Sam Stovall, chief investment strategist at CFRA Equity Research. "And also a rotation out of technology and into energy, materials and financials."

All told, the S&P 500 index fell 2.02 points, or 0.1 percent, to 2,431.77. The Dow gained 89.44 points, or 0.4 percent, to 21,271.97. The Nasdaq declined 113.85 points, or 1.8 percent, to 6,207.92. The Russell 2000 picked up 6.09 points, or 0.4 percent, to 1,421.71. The indexes also closed out the week unevenly after several days of trading in a mostly narrow range.

Despite the day's big tech stock slide, more stocks rose than declined on the New York Stock Exchange.

U.S. stocks were coming off a two-day winning streak, which included a record high for the Nasdaq on Thursday. They were on track to extend those gains early Friday, each at one point trading above their most recent closing highs.

But then investors began to unload technology stocks. The sell-off centered on the biggest companies in the stock market: Apple, Microsoft, Alphabet and Facebook. But the biggest decliner was chipmaker Nvidia, which lost $10.34, or 6.5 percent, to $149.60.


Alphabet, Google's parent company, fell $34.16, or 3.4 percent, to $970.12, while Apple slid $6.01, or 3.9 percent, to $148.98.

"It's had a good run," said Scott Wren, senior global equity strategist for Wells Fargo Investment Institute. "People are taking a little money off the table."

The technology sector fell 2.7 percent. It remains up 18.5 percent for the year.

Traders also bid up shares in energy companies as the price of crude oil rose.

Helmerich & Payne added $2.87, or 5.7 percent, to $53.27. Rig operator Transocean picked up 39 cents, or 4.6 percent, to $8.81.

Benchmark U.S. crude gained 19 cents to close at $45.83 a barrel in New York. Brent crude, used to price international oils, added 29 cents to settle at $48.15 a barrel in London.

Small-company stocks were among the big gainers, receiving a boost from a stronger dollar following the British general election. A stronger dollar tends to benefit small-cap stocks, because they tend to not have as much exposure to international markets as large-cap stocks.

The pound lost more than 2 cents versus the dollar after the Conservatives lost their majority in Parliament, which could send Britain's negotiations to leave the European Union, due to start June 19, into disarray. The pound weakened to $1.2724 from $1.2943. The dollar also strengthened to 110.20 yen from 109.94 yen late Thursday. The euro weakened to $1.1195 from $1.1222.

Corporate deal news also led to some notable stock moves Friday.

DuPont Fabros Technology jumped 9.8 percent after the data real estate investment trust and owner of wholesale data centers was acquired by another REIT, Digital Realty Trust. The deal is an all-stock transaction valued at about $7.6 billion. DuPont Fabros Technology shares gained $5.44 to $60.80. Digital Realty slipped $3.43, or 2.9 percent, to $113.32.


Pandora Media rose on news that SiriusXM will invest $480 million in the online radio company. SiriusXM, which is buying preferred stock and taking a 19 percent stake in Pandora, will also select three people to be named to Pandora's board. Pandora is breaking off a deal with investment firm KKR from last month. Pandora added 10 cents, or 1.2 percent, to $8.52. SiriusXM slid 20 cents, or 3.7 percent, to $5.20.

Several companies fell after issuing weak outlooks.

VeriFone Systems shed 3.5 percent after the maker of terminals for electronic payments cut its forecasts and said it will sell or restructure several businesses. The stock lost 64 cents to $17.68.

HNI slumped 12.6 percent after the maker of office furniture and fireplaces cut its forecasts because of slower sales and falling wholesale revenue. The stock slid $5.64 to $39.27.

Bond prices fell. The 10-year Treasury yield held rose to 2.20 percent from 2.19 percent late Thursday.

In other energy trading, wholesale gasoline rose a penny to $1.50 per gallon. Heating oil inched up 1 cent to $1.43 per gallon. Natural gas added 1 cent to $3.04 per 1,000 cubic feet.

Gold fell $8.10 to $1,271.40 per ounce. Silver lost 19 cents, or 1.1 percent, to $17.22 per ounce. Copper gained 4 cents, or 1.5 percent, to $2.65 per pound.

Germany's DAX rose 0.8 percent, while France's CAC 40 gained 0.7 percent. Britain's FTSE 100 added 1 percent. Japan's Nikkei 225 added 0.5 percent, while South Korea's Kospi rose 0.8 percent. Hong Kong's Hang Seng slipped 0.1 percent.

8844


----------



## bigdog

*
AUSTRALIA PUBLIC HOLIDAY JUNE 12*

https://www.usnews.com/news/busines...s-fall-further-as-technology-tumble-continues

* Sudden Technology Tumble Continues as Stocks Fall Further *

*Big name technology companies continue to take losses as US stock indexes fall for a second day.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stock indexes slipped again Monday as technology companies, which were near record highs last week, suffered a second day of sharp losses. Investors are changing course and selling some of the best-performing stocks of the year while buying companies that have struggled.

Technology companies have surged in recent months, and on Monday almost all of the losses came from the big companies that have led the way recently: Apple, Microsoft, Facebook, and Alphabet, Google's parent company. Stocks fell hard in early trading, but gradually recovered part of their losses as the day went on.

Julian Emanuel, an equity strategist for UBS, thinks technology stocks may fall a lot further and wind up 10 percent lower than they were last week. He said the technology companies should continue to do well, but the stocks have done so much better than the rest of the market in recent months that they are due for a downturn.

"Any time that you have that degree of extreme sector outperformance, two things happen: the overall market tends to get a bit more volatile, and the leading group tends to underperform the laggards," he said.

Investors took a new look at some groups of companies that haven't done that well in 2017, including energy, telecommunications and real estate companies. Some of the best-performing stocks fell, including consumer-focused companies, health care companies, utilities and basic materials makers.

The Standard & Poor's 500 index dipped 2.38 points, or 0.1 percent, to 2,429.39. The Dow Jones industrial average, which closed at a record high Friday, lost 36.30 points, or 0.2 percent, to 21,235.67. The Nasdaq composite dropped 32.45 points, or 0.5 percent, to 6,175.46. The Russell 2000 index of small-company stocks slid 2.50 points, or 0.2 percent, to 1,419.21.


Apple shed $3.66, or 2.5 percent, to $145.32 while Alphabet lost $8.31 to $961.81. Facebook fell $1.16 to $148.44 while Microsoft sank 54 cents to $69.78. Other 2017 top performers like Activision Blizzard, Netflix and Skyworks Solutions also tumbled.

Technology stocks have done far better than the rest of the market this year and were close to all-time highs before Friday's drop. The technology component of the S&P 500 index shed 2.7 percent Friday, which erased a month's worth of gains.

General Electric, meanwhile, made its biggest gain in almost two years after it said CEO Jeffrey Immelt will step down after 16 years at the helm. John Flannery, the head of GE's health care division, will take over the post in August. Immelt will remain GE's chairman until the end of this year. In recent years GE has sold or split off numerous businesses, including its financial services division, and focused on new technologies as it returned to its roots as an industrial company.

GE stock gained $1, or 3.6 percent, to $28.94, for its largest one-day jump since October 2015.

Benchmark U.S. crude added 25 cents to $46.08 a barrel in New York. Brent crude, used to price international oils, added 14 cents to $48.29 a barrel in London. Among energy companies, Exxon Mobil rose 80 cents, or 1 percent, to $82.93 and Chevron picked up $1.64, or 1.5 percent, to $108.04.

Energy companies are down 12 percent this year and phone companies have fallen almost 9 percent, but both climbed Monday as investors bought stocks that have struggled this year. Verizon added 47 cents, or 1 percent, to $47.19. Real estate companies have lagged the market this year, and they rose as well.


Stocks that took a rare downturn included Amazon, which dropped $13.48, or 1.4 percent, to $964.83, and drug and medical device maker Baxter International, which lost $1.76, or 3 percent, to $57.15.

The Federal Reserve will meet Tuesday and Wednesday, and investors expect the central bank to raise interest rates for the third time since December.

Emanuel, of UBS, said that if the Fed takes an upbeat view of the economy, investors will likely keep selling technology stocks and put their money into consumer-focused companies, banks, and other industries that should benefit from continued economic growth. But if the Fed is more pessimistic, investors may look for yield and safer investments and buy bonds and high-dividend stocks instead.

Bond prices wobbled and turned lower. The yield on the 10-year Treasury note rose to 2.21 percent from 2.20 percent.

In other energy trading, wholesale gasoline dipped 1 cent to $1.49 a gallon. Heating oil lost less than 1 cent to $1.43 a gallon. Natural gas fell 2 cents to $3.02 per 1,000 cubic feet.

The dollar fell to 109.79 yen from 110.20 yen. The euro inched up to $1.1208 from $1.1195. The British pound continued to fall. It slid to $1.2657 from $1.12724 following the U.K.'s general election, which left the Conservative party with a weaker hold on the government that could affect the country's bargaining position in its exit talks with the European Union.

Gold slipped $2.50 to $1,268.90 an ounce. Silver sank 28 cents to $16.94 an ounce. Copper lost 3 cents to $2.62 a pound.

European stocks also stumbled. France's CAC 40 dropped 1.1 percent and the Germany DAX shed 1 percent. Britain's FTSE 100 lost 0.2 percent. The benchmark Nikkei 225 in Japan slipped 0.5 percent and South Korea's Kospi declined 1 percent. The Hang Seng of Hong Kong lost 1.3 percent.
*
*


----------



## bigdog

https://www.usnews.com/news/busines...-stocks-rebound-as-tech-companies-move-higher

* US Stocks Bounce Back to Records as Tech Companies Rise *

*After two days of losses, stock indexes are trading at record highs again as technology companies rebound.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks bounced back to record highs Tuesday as investors put an end to a two-day drop for technology companies. Energy and consumer-focused companies also made outsize gains.

In a reversal from the two previous days, investors put money into companies that stand to benefit from faster economic growth, including retailers, makers of basic materials like paints and chemicals, energy companies and banks. Big-dividend companies, which are usually considered safer investments, did not do as well as the rest of the market.

Tech companies reversed their losses from Monday, although they remain well below their peak from last week.

"There's no question that the rally in that sector can continue as long as investors' sentiment remains positive," said Brian Rehling, co-head of global fixed income strategy at Wells Fargo Investment Institute. Rehling said he believes tech stocks are a bit too high, but not by a huge amount.

The Standard & Poor's 500 index picked up 10.96 points, or 0.5 percent, to 2,440.35. The Dow Jones industrial average rose 92.80 points, or 0.4 percent, to 21,328.47.

The Nasdaq composite, which has a large concentration of technology companies, rose 44.90 points, or 0.7 percent, to 6,220.37, but did not get back to its record highs. The Russell 2000 index of smaller-company stocks added 6.77 points, or 0.5 percent, to 1,425.98.

Technology companies led the way once again. Facebook rose $2.24, or 1.5 percent, to $150.68 while Microsoft gained 87 cents, or 1.2 percent, to $70.65. Hard drive maker Western Digital added $3.41, or 3.9 percent, to $90.05.

Even after their recent skid, technology companies have done much better than the rest of the market in 2017. Big tech companies like Apple and Alphabet have been responsible for a huge portion of the stock market's gains this year.


Amazon helped retailers trade higher. The online giant picked up $15.88, or 1.6 percent, to $980.79 and Best Buy rose $1.07, or 1.9 percent, to $57.85. Home Depot climbed $1.25, or 1.2 percent, to $153.99.

Among materials companies, Dow Chemical jumped $1.25, or 2 percent, to $65.26 and Sherwin-Williams gained $5.31, or 1.5 percent, to $353.25.

Energy companies joined the gains as the price of oil reversed an early loss. U.S. crude futures added 38 cents to settle at $46.46 a barrel in New York. Brent crude, used to price international oils, picked up 43 cents to $48.72 a barrel in London.

Among energy stocks, Halliburton climbed 92 cents, or 2 percent, to $45.84 and oil refiner Tesoro rose $3.03, or 3.3 percent, to $94.22.

Wholesale gasoline rose 1 cent to $1.50 a gallon. Heating oil finished up 2 cents at $1.45 a gallon. Natural gas slumped 6 cents, or 1.9 percent, to $2.97 per 1,000 cubic feet.

The Federal Reserve began a two-day policy meeting on Tuesday. On Wednesday, investors expect the central bank to raise interest rates for the third time since December. Rehling, of the Wells Fargo Investment Institute, said investors will scrutinize the Fed's views on inflation and how aggressive it will be in raising interest rates in the future.

"The market's going to be looking to see if they're still on track," he said. Rehling added that investors also want to know about the Fed's plan to start reducing its huge portfolio of bonds. He doesn't think that will have much effect on the bond market.

Information technology company Science Applications International Corp. slumped after its sales fell short of Wall Street's projections. The company said tight budgets for customers are hurting its sales, and greater costs affected its profits. The stock lost $6.92, or 8.5 percent, to $74.52.


Restaurant chain Cheesecake Factory said sales at established restaurants have fallen in the current quarter. Those sales, an important measure of how a retailer is doing, down about 1 percent, while FactSet says analysts expected growth of 1.7 percent. The stock lost $5.75, or 9.9 percent, to $52.58.

Verizon officially bought Yahoo's internet business for $4.5 billion. That brought an end to Yahoo's 21 years as a publicly traded company. Yahoo is being combined with AOL in a new Verizon unit called Oath, which is run by AOL CEO Tim Armstrong. Verizon stock lost 73 cents, or 1.5 percent, to $46.46.

Bond prices edged higher. The yield on the 10-year Treasury note dipped to 2.21 percent from 2.22 percent late Monday.

Gold slipped 30 cents to $1,268.60 an ounce. Silver fell 18 cents, or 1 percent, to $16.77 an ounce. Copper dipped 2 cents to $2.60 a pound.

The dollar rose to 109.96 yen from 109.79 yen. The euro inched up to $1.1212 from $1.1208.

Germany's DAX gained 0.6 percent and the CAC 40 in France advanced 0.4 percent. In Britain the FTSE 100 index lost 0.2 percent. Asian markets finished mostly higher. In South Korea the Kospi rose 0.7 percent and the Hang Seng in Hong Kong advanced 0.6 percent. Japan's Nikkei 225 dipped 0.1 percent.


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## bigdog

http://abcnews.go.com/Business/wireStory/investors-safety-weak-retail-sales-report-48031733

*Stocks slip as investors seek safety after weak sales data*

By marley jay, ap markets writer


U.S. stocks dipped Wednesday as investors worried about weak retail sales and oil prices sank. The Federal Reserve raised interest rates for the third time in six months.

The Commerce Department said retail spending decreased in May, which surprised experts. Investors reacted by buying traditionally safe assets like government bonds and high-dividend companies while selling stocks from other industries that depend more on economic growth. Bond yields hit their lowest level of 2017. Oil prices also hit an annual low after the government's weekly report on oil stockpiles.

In the last few weeks Wall Street has been disappointed by several economic reports. That did not appear to change the Fed's thinking even though higher interest rates tend to slow down economic growth. For years investors have been hoping growth will hit a faster pace.

"This economy has always been something of a healthy tortoise," said David Kelly, chief global strategist at JPMorgan Asset Management. "I think growth will pick up a bit, but there is sort of a failure to bounce in this economy."

The Standard & Poor's 500 index slid 2.43 points, or 0.1 percent, to 2,437.92. The Dow Jones industrial average rose 46.09 points, or 0.2 percent, to a record 21,374.56. Home Depot and Goldman Sachs contributed most of the blue-chip index's gain. After a late tumble in technology stocks, the Nasdaq composite lost 25.48 points, or 0.4 percent, to 6,194.89.

Small-company stocks fell more than the rest of the market. The Russell 2000 index sank 8.41 points, or 0.6 percent, to 1,417.57. That suggests investors are worried about the economy, which could have an outsize effect on smaller, domestically-focused companies.

The Federal Reserve raised interest rates for the third time since December, something investors widely expected based on the Fed's recent statements. Fed leaders suggested they still expect to raise rates again later in the year.

The Commerce Department said people spent less money at gas stations, department stores and electronics retailers last month. Video game seller GameStop gave up 35 cents, or 1.6 percent, to $21.55 and department store chain Kohl's dropped 38 cents, or 1 percent, to $37.66.

In a separate report, the Labor Department said consumer prices slipped, partly because of lower energy prices. That's one reason there has been little inflation in the economy lately, a continued concern for Federal Reserve policymakers.

Bond prices jumped. The yield on the 10-year Treasury note fell to 2.13 percent from 2.21 percent. Earlier, the 10-year note hit its lowest level since November.

Among big dividend payers, cereal maker General Mills rose 58 cents, or 1 percent, to $58.64 and PepsiCo advanced $1.05 to $117.37. American Water Works rose $1.14, or 1.4 percent, to $81.32.

Oil futures plunged after the U.S. government said oil supplies shrank only slightly last week while gasoline stockpiles grew. Benchmark U.S. crude fell $1.73, or 3.7 percent, to settle at $44.73 a barrel in New York. Brent crude, used to price international oils, shed $1.72, or 3.5 percent, to close at $47 a barrel in London.

Exxon Mobil lost 89 cents, or 1.1 percent, to $82.07 and Anadarko Petroleum sank $1.94, or 3.9 percent, to $47.28.

The Fed also gave more details about its plans to shrink its bond portfolio. Later this year it will reduce the amount of principal payments it invests in new bonds. It does not plan to sell any bonds.

Investors have been pleased that the Fed is disclosing details of its plans and doesn't intend to move too quickly. Still, Kelly, of JPMorgan Asset Management, said he thinks that will have a big effect on the bond market: as the Fed lets its balance sheet shrink and buys fewer bonds, prices will fall and yields will rise.

The dollar slid to 109.53 yen from 109.96 yen. The euro edged up to $1.1220 from $1.1212.

Biotech drugmaker Biogen fell and competitor Alexion Pharmaceuticals rose after the companies said Biogen Chief Financial Officer Paul Clancy will become Alexion's CFO at the end of July. Analysts said Wall Street has a lot of respect for Clancy, who has been Biogen's CFO for 10 years.

Biogen gave up $8.05, or 3.1 percent, to $253.37 and Alexion jumped $10, or 9.3 percent, to $118.

Gold rose $7.30 to $1,275.90 an ounce. Silver jumped 37 cents, or 2.2 percent, to $17.14 an ounce. Copper slipped 2 cents to $2.57 a pound.

In other energy trading, wholesale gasoline sank 7 cents, or 4.5 percent, to $1.43 a gallon. Heating oil lost 4 cents, or 2.6 percent, to $1.41 a gallon. Natural gas fell 3 cents, or 1.1 percent, to $2.93 per 1,000 cubic feet.

Germany's DAX advanced 0.3 percent and the CAC-40 in France lost 0.4 percent. The British FTSE 100 fell 0.3 percent. Tokyo's Nikkei 225 retreated 0.1 percent and the Hang Seng Index in Hong Kong advanced 0.1 percent. In South Korea the Kospi retreated 0.1 percent.


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## Kaban

Hello, it seems to be a good trade. Long from 66.40 ERX/XLE mid term.
What you think.
Here is the chart if you want.


----------



## bigdog

https://www.usnews.com/news/busines...ve-lower-as-technology-companies-keep-falling

* Skidding Tech and Retail Companies Take US Stocks Lower *

*US stocks take modest losses as technology companies, retailers and smaller companies lose ground.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks fell Thursday as technology firms and small companies skidded. Investors bought high-dividend stocks, which pulled the market away from steeper losses.

Stocks dropped in early trading as investors reacted to rising interest rates in the U.S. while the Bank of England came unexpectedly close to raising U.K. interest rates for the first time in 10 years. Smaller, more domestically-oriented companies fell as investors wondered if the expanding special counsel investigation in Washington will affect President Donald Trump's proposed agenda of cuts in taxes and regulations.

"Investors are getting a bit antsy waiting for these pro-growth policies," said Karyn Cavanaugh of Voya Investment Strategies.

Elsewhere, technology companies continued their recent slump, while shoe retailer Nike and toy maker Mattel both fell. But industrial companies rose on new signs U.S. manufacturing has steadied, and utilities and real estate companies did well.

The Standard & Poor's 500 index lost 5.46 points, or 0.2 percent, to 2,432.46. It fell as much as 19 points in the morning. The Dow Jones industrial average dipped 14.66 points, or 0.1 percent, to 21,359.90 after it closed at a record high Wednesday. The Nasdaq composite dropped 29.39 points, or 0.5 percent, to 6,165.50. The Russell 2000 index of small-company stocks fell 7.49 points, or 0.5 percent, to 1,410.08.

Technology companies, which have done far better than the rest of the market this year, continued to slide. Apple gave up 87 cents to $144.29 and Alphabet, Google's parent company, sank $7.75 to $960.18. Symantec shed 68 cents, or 2.3 percent, to $28.41. The stocks have been slipping since Friday and the Nasdaq is on track for its second consecutive weekly loss.


Nike declined $1.76, or 3.2 percent, to $52.90 after the company said it will eliminate 1,400 jobs, or about 2 percent of its staff positions, and reduce the number of sneaker styles it sells by about a quarter. Amazon dipped $12.30, or 1.3 percent, to $964.17.

Grocery chain Kroger took its biggest one-day loss since 1999. The company cut its annual profit outlook as it deals with growing competition from discount chain Aldi and from Lidl, a German chain opening its first locations in the U.S. Kroger's stock plunged $5.72, or 18.9 percent, to $24.56. Competitor Supervalu fell 30 cents, or 7.4 percent, to $3.76.

Mattel said wants to restructure its business to help bring new products to market faster. It will also reduce its dividend payments, although it didn't say how much. The stock fell $1.48, or 6.7 percent, to $20.67.

The Washington Post reported late Wednesday that the special counsel investigating Russian influence in the presidential campaign is now examining whether President Trump tried to obstruct justice. Allegations of obstruction arose last month when he fired FBI Director James Comey.

Trump has touted an agenda aimed at getting the economy to grow faster. That could help smaller companies because they are more domestically focused and thus more dependent on economic growth. Those stocks made dramatic gains after Trump was elected.

On Thursday subprime consumer lender World Acceptance lost $10.30, or 12.4 percent, to $73. Diagnostic imaging company Lantheus Holdings fell $1.45, or 8.9 percent, to $14.80. Publisher Time sank 55 cents, or 3.9 percent, to $13.45.

Materials companies stumbled after steel maker Nucor gave a disappointing forecast for the current quarter. Nucor said its steel mills are struggling this quarter because of aggressive competition, and its stock surrendered $4.51, or 7.6 percent, to $54.60.


As the dollar regained strength, the price of gold sank $21.30, or 1.7 percent, to $1,254.60 an ounce and silver lost 42 cents, or 2.5 percent, to $16.72 an ounce. Copper lost 1 cent to $2.57 a pound.

The Bank of England left interest rates alone, but came closer to raising interest rates than many expected. Three of the eight members of its Monetary Policy Members wanted to raise rates by a quarter-point. A growing number of its policy makers seem to be worried about a spike in inflation that is eating into the living standards of the British.

Germany's DAX fell 0.9 percent while the FTSE 100 in Britain dropped 0.7 percent. The CAC-40 in France sank 0.5 percent. Japan's Nikkei 225 stock index fell 0.3 percent and South Korea's Kospi sank 0.5 percent. The Hang Seng in Hong Kong dropped 1.2 percent.

On Wednesday the Federal Reserve raised U.S. interest rates for the third time in about six months, and suggested it will raise rates again later this year.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.16 percent from 2.13 percent. Stocks that pay large dividends, including utilities, real estate investment trusts and phone companies, did better than the rest of the market.

Benchmark U.S. crude fell another 27 cents to $44.46 a barrel in New York. Brent crude, used to price international oils, lost 8 cents to $46.92 a barrel in London.

Wholesale gasoline remained at $1.44 a gallon. Heating oil stayed at $1.42 a gallon. Natural gas jumped 12 cents, or 4.2 percent, to $3.06 per 1,000 cubic feet.


The dollar rose to 110.86 yen from 109.53 yen. The euro dropped to $1.1155 from $1.1220.


----------



## bigdog

https://www.usnews.com/news/busines...mazon-whole-foods-deal-hammers-grocery-stores

* Amazon-Whole Foods Deal Hammers Grocery Stores; Dow Ticks Up *

*US stocks finish barely higher, but grocery stores, wholesale clubs and other retailers drop after Amazon said it will buy Whole Foods.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Amazon's $13.4 billion deal for Whole Foods sent grocery stores, big retailers, and food makers and distributors plunging Friday. Energy companies rose while other stocks were little changed.

It's rare for a single deal to have a big effect on the broader stock market, but Amazon's agreement to buy Whole Foods Market did. Investors wondered if Amazon will do to grocery stores and supermarkets what it's done to sellers of goods like clothing and office supplies: force them to make big changes or be supplanted.

Neil Saunders, managing director of the research firm Global Data Retail, said Amazon is likely to push supermarkets and grocery stores to slash prices, which will affect the companies that make and distribute those products.

"As Amazon enters the grocery market proper, it will put a lot more pressure on existing grocers," he said. "Those grocers will respond by cutting prices and that will cut profits for the distributors."

Elsewhere, energy companies rose as oil futures bounced back from their lowest price this year and utilities and industrial and basic materials ground out modest gains.

Thanks to a late gain, the Standard & Poor's 500 index inched up 0.69 points to 2,433.15. The Dow Jones industrial average added 24.38 points, or 0.1 percent, to a record high of 21,384.28. The Nasdaq composite fell 13.74 points, or 0.2 percent, to 6,151.76. The Russell 2000 index of smaller company stocks shed 3.36 points, or 0.2 percent, to 1,406.73.

Online juggernaut Amazon said it pay $42 a share for Whole Foods. Whole Foods had been the target of sale rumors for about two months, and investors appeared to wonder Friday if another bidder may step in. Its stock jumped $9.62, or 29.1 percent, to a two-year high of $42.68. Amazon climbed $23.54, or 2.4 percent, to $987.71.


Many investors had expected Amazon to get into the grocery business. It already runs AmazonFresh, a grocery delivery service that costs $14.99 a month for members of its Prime service, and it recently opened a few grocery stores. Investors dumped retailers, drugstores, and even discount chains. Many of them have started trying to sell more groceries in the last few years to try to capitalize on shoppers' yen for fresher, more natural food. That was a trend Whole Foods helped start.

Wal-Mart had its worst day in more than a year as it fell $3.67, or 4.7 percent, to $75.24. Costco took its biggest loss in almost six years as it sank $12.95, or 7.2 percent, to $167.11. Target tumbled $2.85, or 5.1 percent, to $52.61.

Amazon is a unique threat to many retailers because it doesn't mind losing money for long stretches. The company might be able to sell inexpensive groceries as it makes its money from its cloud computing business and its gigantic online marketplace.

"Is the future of grocery store shopping going to be a point and click experience, or is it going to be going to a grocery store?" said Dan Morgan, senior portfolio manager at Synovus Trust.

Supermarkets and grocery stores had also plunged Thursday after Kroger cut its annual forecast. Kroger, which plunged 19 percent a day ago, lost another $2.27, or 9.2 percent, and hit a three-year low of $22.29. Sprouts Farmers Market skidded $1.41, or 6.3 percent, to $21.01.

Campbell Soup fell $1.91, or 3.4 percent, to $55.05 and General Mills dipped $1.73, or 2.9 percent, to $57.10. United Natural Foods dropped $4.36, or 11 percent, to $35.39.


Benchmark U.S. crude rose 28 cents to $44.74 a barrel in New York. Brent crude, used to price international oils, climbed 45 cents, or 1 percent, to $47.37 a barrel in London. Occidental Petroleum jumped $2.43, or 4.1 percent, to $61.83 and Chevron gained $2.02, or 1.9 percent, to $108.35.

Wholesale gasoline rose 2 cents to $1.45 a gallon. Heating oil added 1 cent to $1.43 a gallon. Natural gas dipped to 2 cents to $3.04 per 1,000 cubic feet.

Defense contractor Booz Allen Hamilton tumbled after it said the Department of Justice is investigating its accounting practices and the way it charges the U.S. government. The company said it is cooperating with the investigation and its own auditing hasn't turned up any major erroneous costs or problems. The stock fell $7.43, or 18.9 percent, to $31.90.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.16 percent from 2.17 percent. The yield on the 2-year Treasury note fell to 1.31 percent from 1.35 percent.

Gold rose $1.90 to $1,256.50 an ounce. Silver slipped 6 cents to $16.66 an ounce. Copper stayed at $2.56 a pound.

The dollar edged up to 110.84 yen from 110.79 yen. The euro rose to $1.1195 from $1.1155.

European stock indexes rose after Greece reached a deal with its eurozone creditors. The agreement means the country won't face the risk of bankruptcy when it has to make a big debt payment next month. France's CAC 40 added 0.9 percent and the DAX in Germany climbed 0.5 percent. Britain's FTSE 100 gained 0.6 percent.

Japan's Nikkei 225 stock index rose 0.6 percent after the Bank of Japan said there are signs of improvement in the world's third-largest economy. South Korea's Kospi finished little changed. Hong Kong's Hang Seng rebounded 0.2 percent.

9186


----------



## bigdog

https://www.usnews.com/news/busines...exes-follow-global-markets-higher-led-by-tech

* With Tech Giants Back in Charge, Stocks Hit Records Again *

*U.S. stock indexes climbed again to record heights on Monday, led by technology companies.*

*By STAN CHOE, AP Business Writer
*
NEW YORK (AP) — Apple and other big-name technology stocks got back to their winning ways Monday and helped drive U.S. indexes once again to record heights.

The Standard & Poor's 500 index rose 20.31 points, or 0.8 percent, to 2,453.46 and surpassed its old record, set nearly a week ago, by half a percent. The Dow Jones industrial average added 144.71 points, or 0.7 percent, to 21,528.99, and the Nasdaq composite jumped 87.25, or 1.4 percent, to 6,239.01.

Tech heavyweights, which had been among the stock market's biggest stars until recently, led the way. After being up more than 20 percent for the year, tech stocks in the S&P 500 fell sharply two Fridays ago on worries that they had risen too much, too quickly. In a little more than a week, tech stocks lost about a fifth of their year-to-date gains.

On Monday, Apple rose for just the second time since two Thursdays ago. It jumped $4.07, or 2.9 percent, to $146.34 for its second-best day of the year so far. Google's parent, Alphabet, rose $16.60, or 1.7 percent, to $975.22. Altogether, tech stocks in the S&P 500 rose 1.7 percent, the largest gain among the 11 sectors that make up the index.

It's just the latest example of investors steeling themselves and "buying the dip." Every time the stock market has shown any weakness in the last eight years, it's proven to be a good move for investors to buy. That's because stocks have ended up erasing any losses incurred, only to move higher. That long track record has trained investors to pounce whenever they see a dip, and analysts have noticed how ingrained the instinct has become.

"It's concerning, but I don't see what breaks it at this point of time," said Nate Thooft, senior portfolio manager at Manulife Asset Management. "It's going to be really, really hard to predict what that circumstance is. For the time being, investors are thinking, 'We can't afford not to be in this market, and we'll continue to play along with the dynamics of the gradual melt-up.'"


Thooft expects stocks to continue rising, even with prices high, because bonds look less attractive. Plus, profit growth is improving for companies, which helps to justify their stock price gains.

The biggest gainer in the S&P 500 Monday was PerkinElmer, which sells testing equipment and scientific instruments. It jumped $4.16, or 6.5 percent, to $67.73 after it agreed to buy EUROIMMUN Medical Laboratory Diagnostics of Germany for $1.3 billion in cash.

On the other end was energy company EQT, which fell $5.26, or 9 percent, to $53.51 for the largest loss in the index. It agreed to buy Rice Energy for $6.7 billion in cash and stock in a deal that EQT said will make it the country's largest producer of natural gas. Rice surged $4.88, or 24.8 percent, to $24.57.

In overseas markets, European shares rose after French voters gave their new president a political majority in parliament. The vote "will lend him enough support to rapidly implement his pro-business reform program," said Marion Amiot, senior economist at Oxford Economics. She raised her forecast for French economic growth for 2018 to 1.7 percent from 1.6 percent.

The French CAC 40 gained 0.9 percent, and Germany's DAX rose 1.1 percent. The FTSE 100 in London rose 0.8 percent as the United Kingdom opened negotiations to withdraw from the European Union.

In Asia, Japan's Nikkei 225 added 0.6 percent, the Hang Seng in Honk Kong climbed 1.2 percent and South Korea's Kospi gained 0.4 percent.


Bond prices fell, which sent yields higher. The yield on the 10-year Treasury rose to 2.18 percent from 2.15 percent late Friday. The two-year yield climbed to 1.35 percent from 1.31 percent, and the 30-year yield ticked up to 2.79 from 2.77 percent.

The dollar rose to 111.54 Japanese yen from 110.84 yen late Friday. The euro fell to $1.1147 from $1.1195, and the British pound slipped to $1.2729 from $1.2780.

In the commodities markets, benchmark U.S. crude fell 54 cents to settle at $44.43 per barrel. Brent crude, the international standard, fell 46 cents to settle at $46.91 a barrel.

Natural gas sank 14 cents to $2.89 per 1,000 cubic feet, heating oil fell 2 cents to $1.41 per gallon and wholesale gasoline held relatively steady at $1.45 per gallon.
*
Gold fell $9.80 to settle at $1,246.70 per ounce, silver lost 16 cents to $16.50 per ounce and copper added 3 cents to $2.59 per pound.

*


----------



## bigdog

https://www.usnews.com/news/business/articles/2017-06-20/slumping-oil-prices-rein-in-stock-indexes

* Oil's Slide to Lowest Price of the Year Pulls Stocks Lower *

*The price of oil slumped to its lowest level of the year on Tuesday and helped to restrain U.S. stock indexes, which set records a day earlier.*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stock indexes retreated from their record heights Tuesday after a slump in the price of oil weighed on energy companies.

The Standard & Poor's 500 index fell 16.43 points, or 0.7 percent, to 2,437.03, and the Dow Jones industrial average lost 61.85 points, or 0.3 percent, to 21,467.14. Both the S&P 500 and Dow set records on Monday thanks to big gains from technology stocks.

The Nasdaq composite lost 50.98 points, or 0.8 percent, to 6,188.03, and the Russell 2000 index of small-cap stocks fell 15.11, or 1.1 percent, to 1,402.97.

Losses were widespread across the market, with five stocks dropping on the New York Stock Exchange for every two that rose. Many of the sharpest declines were concentrated in the energy sector, as the price of oil touched its lowest price since mid-November.

Benchmark U.S. crude lost 97 cents, or 2.2 percent, to settle at $43.23 per barrel, and Brent crude, the international standard, fell 89 cents to $46.02 per barrel.

The price of oil has been sloshing between $40 and $55 per barrel for much of the last year, down from a peak of more than $110 in the summer of 2013. Drillers have gotten much better at pulling oil from the ground, which has helped supplies to balloon and correspondingly weighed on prices. Many oil-producing countries have banded together to cut production in hopes of limiting supplies, but analysts are skeptical about how much they can influence prices.

One of the main reasons for the stock market's climbing to record after record this year has been the resurgence in profit growth for big companies, and the energy sector is expected to play a leading role in that. Analysts forecast energy companies in the S&P 500 will report better than 300 percent growth in their earnings per share this year. But if the price of oil keeps dropping, that's at risk.


John Manley, chief equity strategist at Wells Fargo Funds Management, is still optimistic that expectations for earnings across the market can keep rising. Lower oil prices would undercut profits for energy stocks, but they should also help other industries that will be paying lower fuel bills. And as long as profits continue to rise, Manley says stocks can too.

"Earnings are starting to re-accelerate," he said. "It may stop tomorrow, and if it does, well, I'll change my mind tomorrow. But right now, earnings are growing."

Tuesday's slump for oil led shares of Transocean to drop 36 cents, or 4.2 percent, to $8.20 and Marathon Oil to lose 43 cents, or 3.4 percent, to $12.06.

The worst-performing stock in the S&P 500 was Chipotle Mexican Grill, which lost $33.31, or 7.3 percent, to $425.60 after analysts cut their profit estimates for the restaurant chain. Chipotle said marketing costs will eat up a slightly bigger percentage of revenue this quarter than in the first three months of the year.

On the opposite end was homebuilder Lennar, which rose $1.13, or 2.1 percent, to $53.87 after reporting stronger revenue and earnings for the latest quarter than analysts expected.

Parexel International, a biopharmaceutical services provider, jumped $3.12, or 3.7 percent, to $87.04 after it said it will go private following a buyout by Pamplona Capital Management.

In the Treasury market, bond prices rose, which caused yields to fall. The yield on the 10-year Treasury note sank to 2.15 percent from 2.19 percent late Monday. The two-year yield dropped to 1.34 percent from 1.36 percent, and the 30-year yield fell to 2.73 percent from 2.79 percent.


The British pound fell to $1.2629 from $1.2729 after the Bank of England cooled market expectations that it may soon raise interest rates.

The euro dipped to $1.1128 from $1.1147, and the dollar slipped to 111.41 Japanese yen from 111.54 yen.

In the commodities markets, gold dipped $3.20 to settle at $1,243.50 per ounce, silver lost 9 cents to $16.42 per ounce and copper dropped 4 cents to $2.55 per pound.

Natural gas rose a penny to $2.91 per 1,000 cubic feet, heating oil fell 2 cents to $1.39 per gallon and wholesale gasoline lost 3 cents to $1.42 per gallon.

In overseas markets, the French CAC 40 slipped 0.3 percent, the German DAX lost 0.6 percent and the FTSE 100 fell 0.7 percent.

The Japanese Nikkei 225 rose 0.8 percent, the Hang Seng in Hong Kong fell 0.3 percent and South Korea's Kospi dipped 0.1 percent.
*
*


----------



## bigdog

https://www.usnews.com/news/busines...exes-hold-steady-as-the-price-of-oil-steadies

* Energy Stocks Dive Anew, Offset Tech Gains; US Indexes Mixed *

*U.S. stock indexes ended mixed after another dive for energy stocks offset gains for health care and tech stocks.*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Energy stocks dove again on Wednesday as oil dropped to its lowest price since last summer, extending their dismal start to the year. Gains for health care and technology stocks helped hem in losses for broader market indexes.

The Standard & Poor's 500 index dipped 1.42 points, or 0.1 percent, to 2,435.61. The Dow Jones industrial average fell 57.11, or 0.3 percent, to 21,410.03, and the Nasdaq composite rose 45.92, or 0.7 percent to 6,233.95.

"The story truly is energy right now," said JJ Kinahan, chief market strategist at TD Ameritrade.

Crude dropped for a third straight day and touched its lowest price since August on expectations that supplies of oil will far outweigh demand. Even a report showing that the amount of supplies in U.S. inventories shrank last week did little to alter the tide.

Benchmark U.S. crude lost 98 cents, or 2.3 percent, to settle at $42.53 per barrel. Brent crude, the international standard, fell $1.20, or 2.6 percent, to $44.82 a barrel.

The price of oil has now dropped more than 20 percent this year, breaking into what traders call a bear market. How much of an impact that will have on most 401(k) accounts will depend on how much it undercuts energy companies' profits, and whether the pain will spill into other areas of the market.

Accelerating corporate profits and expectations that they'll continue have been a big reason for the stock market's rise this year, and energy companies had been forecast to provide some of the biggest gains.

"We're in the warning area here, between $40 and $44," Kinahan said of the price of oil. "If we get below $40, I think you'll get people adjusting their expectations."

Energy stocks in the S&P 500 tumbled 1.6 percent, a day after falling 1.2 percent. They are down nearly 15 percent for the year, when the overall S&P 500 is up 8.8 percent.


Losses for the broad S&P 500 were milder on Wednesday because of strong gains for health care and technology stocks.

Red Hat, an open-source software company, surged to one of the biggest gains in the index after reporting better-than-expected earnings for its latest quarter. Its forecast for revenue and earnings this fiscal year also topped analysts' expectations. Its stock rose $8.62, or 9.6 percent, to $98.58.

La-Z-Boy jumped $5.80, or 22.1 percent, to $32.00 after reporting quarterly earnings that easily topped analysts' expectations. Its customers have been shifting toward higher-priced and more profitable products for the company, such as leather.

In overseas markets, the Shanghai composite rose 0.5 percent after index provider MSCI said it will include 222 of what are called Chinese A-shares in its widely followed Emerging Markets index. The move, which will begin next year, will likely cause big shifts of money into mainland Chinese stocks by mutual funds and other investors that track the index.

MSCI has been considering including A-shares in its index for years but had demurred until now due to a range of concerns, such as how inaccessible they were for foreign investors. China has since started a "Stock Connect" program that links mainland Chinese stocks with the Hong Kong market to make them more accessible, among other changes.

In Europe, France's CAC 40 fell 0.4 percent, Germany's DAX lost 0.3 percent and the FTSE 100 in London slipped 0.3 percent. In Asia, Japan's Nikkei 225 index fell 0.5 percent, South Korea's Kospi lost 0.5 percent and the Hang Seng in Hong Kong dropped 0.6 percent.


The 10-year Treasury yield held steady at 2.16 percent. The two-year yield dipped to 1.34 percent from 1.35 percent late Tuesday, and the 30-year yield fell to 2.73 percent from 2.74 percent.

The British pound rose to $1.2668 from $1.2629 late Tuesday. The euro rose to $1.1167 from $1.1128, and the dollar dipped to 111.34 Japanese yen from 111.41 yen.

In the commodities markets, gold rose $2.30 to settle at $1,245.80 per ounce, silver slipped 4 cents to $16.37 per ounce and copper added 5 cents to $2.60 per pound. Natural gas fell 1 cent to $2.89 per 1,000 cubic feet, heating oil fell 3 cents to $1.36 per gallon and wholesale gasoline fell 1 cent to $1.41 per gallon.
*
*


----------



## bigdog

https://finance.yahoo.com/news/us-stock-indexes-hold-steady-140605039.html

*US stock indexes hold steady as oil's dismal week eases*




Stan Choe, AP Business Writer

NEW YORK (AP) -- U.S. stock indexes held steady Thursday after the price of oil halted its slide, at least for now.

Energy stocks fell again, but not by nearly as much as earlier in the week, after crude rose for the first time in four days. Big gains for health care stocks also helped to offset losses for financial companies and other areas of the market, leaving indexes close to flat.

The Standard & Poor's 500 index edged down by 1.11 points, or less than 0.1 percent, to 2,434.50. The Dow Jones industrial average dipped 12.74, or 0.1 percent, to 21,397.29, and the Nasdaq composite index rose 2.73 points, or less than 0.1 percent, to 6,236.69.

Markets this week have been dominated by oil's tumbling price and worries about how much it will affect the broader market. Benchmark U.S. crude rose 21 cents to settle at $42.74 per barrel, and Brent crude, the international standard, added 40 cents to $45.22 per barrel. It may not sound like much, but it's a big shift in momentum from earlier in the week, when oil dropped to its lowest level since August on expectations that supplies will exceed demand.

Energy stocks in the S&P 500 dipped by 0.1 percent, a much milder drop than the prior two days, when they fell at least 1.2 percent.

Helping to support indexes were health care stocks, which have been shooting higher this week even as the rest of the market struggled. Health care stocks in the S&P 500 jumped 1.1 percent, by far the biggest gain among the 11 sectors that make up the index, after the Senate unveiled its proposal to revamp how Americans get medical care. The sector is up 3.7 percent for the week when the overall index is up just 0.1 percent.

Envision Healthcare, which provides physician and ambulance services, jumped $2.06, or 3.5 percent, to $60.30. HCA Healthcare, which owns hospitals around the country, rose $2.09, or 2.5 percent, to $86.14, and biopharmaceutical company Gilead Sciences added $2.98, or 4.4 percent, to $70.48.

Expectations used to be high that big changes coming out of Washington, such as lower tax rates, would help businesses make bigger profits and markets to rise higher. That's much less the case today.

"Expectations have gotten so low, as far as what's going to come out of this administration," said Jon Adams, senior investment strategist at BMO Global Asset Management. "Most think some kind of health reform will get done, but tax reform is a coin flip, and the expectation is it will be very, very modest if it does get through."

The stock market has remained resilient, but the "Trump bump" has faded for other areas as expectations have waned. Interest rates have dropped, and small-cap stocks are lagging behind their larger rivals, for example.

But that means if a big tax-reform package and other pro-business policies do happen, it could mean big gains for markets that don't see them coming, Adams said.

The day's biggest gainer in the S&P 500 was Oracle, which jumped $3.97, or 8.6 percent, to $50.30 after reporting stronger revenue and earnings for its latest quarter than analysts expected. Technology companies are expected to report some of the strongest earnings growth for the April-through-June quarter, one of the reasons their stocks have been leading the market this year.

On the opposite end was Accenture, which fell $5.03, or 4 percent, to $122.08. The consulting company reported quarterly earnings that were in line with analysts' expectations, but it also trimmed the top end of its forecast for revenue growth this year, when taking changes in foreign-currency values into account.

The 10-year Treasury yield held steady at 2.15 percent, while the two-year yield fell to 1.34 percent from 1.35 percent late Wednesday, and the 30-year yield dipped to 2.72 percent from 2.73 percent.

The euro fell to $1.1147 from $1.1167 late Wednesday, and the British pound dipped to $1.2672 from $1.2668. The dollar held steady at 111.34 Japanese yen.

In overseas stock markets, the French CAC 40 rose 0.1 percent, the German DAX rose 0.2 percent and the FTSE 100 in London lost 0.1 percent. Japan's Nikkei 225 index slipped 0.1 percent, South Korea's Kospi added 0.5 percent and the Hang Seng in Hong Kong slipped 0.1 percent.

Gold rose $3.60 to $1,249.40 per ounce, silver added 14 cents to $16.51 and copper was flat at $2.60 per pound.

Natural gas was close to flat at $2.89 per 1,000 cubic feet, heating oil rose 1 cent to $1.37 per gallon and wholesale gasoline added 2 cents to $1.43 per gallon.


----------



## bigdog

https://www.usnews.com/news/busines...s-in-early-trade-s-p-500-headed-for-flat-week

* US Indexes Inch Higher as Energy Stocks Claw From the Hole *

*U.S. indexes inched higher Friday as energy stocks clawed back some of their sharp losses from earlier in the week.*

*Press*


*



*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stock indexes nudged higher Friday after energy companies clawed back some of their sharp losses from earlier in the week.

After meandering up and down through the day, the Standard & Poor's 500 rose 3.80 points, or 0.2 percent, to end at 2,438.30. The Dow Jones industrial average slipped 2.53 points, or less than 0.1 percent, to 21,394.76, and the Nasdaq composite gained 28.56, or 0.5 percent, to 6,265.25. More than twice as many stocks rose than fell on the New York Stock Exchange.

Energy stocks led the way, and those in the S&P 500 climbed 0.8 percent for the largest gain of the 11 sectors that make up the index.

Rising prices for oil and natural gas drove the gains. Benchmark U.S. crude added 27 cents to settle at $43.01 per barrel. Brent crude, the international standard, gained 32 cents to $45.54 and natural gas rose 4 cents, or 1.2 percent, to $2.93 per 1,000 cubic feet.

EQT, a producer of natural gas and crude, had the day's biggest gain in the S&P 500 and jumped $4.16, or 8 percent, to $56.19. Cabot Oil & Gas climbed 88 cents, or 3.8 percent, to $23.74.

Friday's gains, though, weren't enough to keep energy stocks from closing out their worst week in nine months. They had earlier sunk four straight days as oil dropped to its lowest price since August on expectations that the world has more crude supplies than users need. Energy stocks lost 2.9 percent over the course of the week.

What kept broad indexes afloat for the week were big gains for health care and technology stocks. The S&P 500 rose 0.2 percent for the week.

Health care stocks climbed as the Senate unveiled its proposal to revamp how Americans get medical care. Technology companies, meanwhile, are forecast to report strong growth in the upcoming earnings season, and Oracle's profit report on Wednesday sailed past analysts' expectations.


"In terms of the overall market, what you really worry about with oil is what it does to earnings," said Steve Chiavarone, portfolio manager at Federated Investors. A big pickup in corporate profits has been one of the main reasons for the stock market's continued climbs this year, and energy companies had been forecast to provide some of the strongest growth in 2017.

With the price of oil about 15 percent below where it was a year ago, energy companies' profits may be at risk. But as long as oil's price can hold close to where it is, "that's good enough given that there's corporate profit growth everywhere else," Chiavarone said.

Friday's biggest decliner in the S&P 500 was Bed Bath & Beyond, which reported weaker earnings for the latest quarter than analysts expected. The retailer's revenue also fell short of Wall Street's forecasts. Its shares fell $4.09, or 12.1 percent, to $29.65.

Bond prices were little changed, and yields held relatively steady. The 10-year Treasury yield dipped to 2.14 percent from 2.15 percent late Thursday. The two-year yield was flat at 1.34 percent, and the 30-year yield held at 2.72 percent.

The dollar slipped to 111.26 Japanese yen from 111.34 yen late Thursday. The euro rose to $1.1199 from $1.1147, and the British pound rose to $1.2722 from $1.2672.

In European stock markets, France's CAC 40 fell 0.3 percent, Germany's DAX lost 0.5 percent and the FTSE 100 slipped 0.2 percent.

A monthly survey revealed that a measure of economic strength in the 19-country Eurozone slipped to a five-month low in June, which was below market expectations. However, the IHS Markit composite purchasing managers' index indicated that job creation and business confidence were still robust.


Japan's Nikkei 225 index added 0.1 percent, South Korea's Kospi rose 0.3 percent and the Hang Seng in Hong Kong was close to flat.

In the commodities market, gold rose $7.00 to settle at $1,256.40 ounce. Silver added 14 cents to $16.65 per ounce, and copper rose 3 cents to $2.62 per pound.

Heating oil was close to flat at $1.37 per gallon and wholesale gasoline was little changed at $1.43 per gallon.

9557


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## bigdog

https://www.usnews.com/news/busines...stocks-move-higher-in-early-trading-oil-rises

* US Stock Indexes Close Mostly Higher; Oil Recovers *

*U.S. stock indexes closed mostly higher, snapping a four-day losing streak for the Dow Jones industrial average on a day of largely listless trading*

By ALEX VEIGA, AP Business Writer

U.S. stock indexes closed mostly higher Monday, snapping a four-day losing streak for the Dow Jones industrial average on a day of largely listless trading.

Utilities led the gainers as falling bond yields made high-dividend companies more attractive to income-seeking investors. Phone companies and real estate investment trusts, which also tend to offer high yields, notched gains. Financial stocks also did well. Technology companies declined the most, giving up gains from an early rally.

"It's a pretty low volatility day and a continuation of the trend we saw last week, which is equity markets largely treading water," said Bill Northey, chief investment officer at the private client group at U.S. Bank Wealth Management.

The Standard & Poor's 500 index added 0.77 points, or 0.03 percent, to 2,439.07. The Dow gained 14.79 points, or 0.1 percent, to 21,409.55. The Nasdaq composite slid 18.10 points, or 0.3 percent, to 6,247.15. The Russell 2000 index of small-company stocks picked up 1.86 points, or 0.1 percent, to 1,416.64.

The major stock indexes were headed slightly higher in early trading, but spent much of the day wavering between small gains and losses.

Early on, investors got some discouraging news on the economy from the Commerce Department, which reported that orders for durable goods, which are items meant to last at least three years, slid 1.1 percent in May. That was the second straight decline and a bigger drop than analysts were expecting.

That helped pull down U.S. bond yields, which have already been weighed down by increased demand from overseas bond investors seeking better yields and persistently low inflation in the U.S. The yield on the 10-year Treasury note was down to 2.12 percent earlier Monday before bouncing back to 2.14 percent by late afternoon.


The trend made high-dividend stocks favorite buys for many investors seeking income, including utilities such as FirstEnergy and Exelon.

FirstEnergy climbed $1.18, or 4.1 percent, to $30.09, while Exelon gained 71 cents, or 1.9 percent to $37.21.

Several real estate investment trusts also climbed.

Kimco Realty rose 48 cents, or 2.7 percent, to $18.47. CBRE Group picked up $1.13, or 3.2 percent, to $36.48.

Store Capital jumped 11.3 percent on news that Warren Buffett's Berkshire Hathaway is buying a 9.8 percent stake in the real estate investment trust. The stock gained $2.34 to $23.11.

Traders also bid up shares in companies undergoing executive suite changes.

Pandora Media rose 2.2 percent following reports that the streaming music service's founder and CEO Tim Westergren is stepping down. The stock picked up 18 cents to $8.46.

Supervalu gained 3.1 percent after the grocery store operator said Bruce Besanko would step down as chief financial officer. The stock climbed 9 cents to $3.03.

Technology sector companies were down the most, reversing course after an early rally. Qorvo slid $3.53, or 5.1 percent, to $66.41. Skyworks Solutions fell $3.04, or 2.9 percent, to $101.32.

Arconic was the biggest decliner in the S&P 500 index. The stock slumped 6 percent after a published report asserted that the company knowingly supplied flammable panels for London's Grenfell Tower, where a fire June 14 left 79 people dead or missing. Arconic slid $1.53 to $24.01.

Crude oil prices recovered after wavering in early trading. Benchmark U.S. crude rose 37 cents, or 0.9 percent, to settle at $43.38 a barrel in New York. Brent, the international standard, gained 29 cents, or 0.6 percent, to close at $45.83 a barrel in London. Oil prices last week hit their lowest point since August and about 15 percent below where they were a year ago on expectations supplies exceed demand.


In other energy trading, wholesale gasoline rose 1 cent to $1.44 per gallon. Heating oil also added a penny to $1.38 per gallon. Natural gas gained 10 cents, or 3.3 percent, to $3.02 per 1,000 cubic feet.

Gold fell $10 to settle at $1,246.40 ounce. Silver slid 8 cents to $16.57 per ounce, and copper was little changed at $2.63 per pound.

The dollar rose to 111.89 yen from 111.26 yen late Friday. The euro weakened to $1.1181 from $1.1199.

Major indexes moved higher in Europe after a strong German economic survey reinforced hopes that the region's recovery is gaining momentum. Germany's DAX rose 0.3 percent, while France's CAC-40 gained 0.6 percent. The FTSE 100 in London added 0.3 percent.

In Asia, several market indexes notched gains. Hong Kong's Hang Seng added 0.7 percent, while Tokyo's Nikkei 225 rose 0.1 percent. Seoul's Kospi gained 0.4 percent. Sydney's S&P-ASX 200 rose 0.1 percent. Benchmarks in New Zealand, Taiwan and Bangkok also gained.
*
*


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## bigdog

https://www.usnews.com/news/busines...indexes-edge-lower-in-early-trading-oil-rises

* Technology Companies Fall Sharply, Leading US Indexes Lower *

*Technology stocks led a broad slide in U.S. stocks Tuesday after a day of mostly choppy trading.*

By ALEX VEIGA, AP Business Writer

Technology stocks led a broad slide in U.S. stocks Tuesday after a day of mostly choppy trading.

Phone and utilities companies were among the big decliners after a sell-off in bonds sent yields sharply higher. Banks bucked the broader market decline amid heightened expectations of rising interest rates. Oil prices rose for the fourth straight day.

Late-afternoon developments in Washington helped put investors in a selling mood.

Republican leaders in the Senate decided to delay a vote on a health care overhaul bill until after the July 4 recess.

"The delay of the health care vote added to a little bit of the uneasiness going into the quarter end here," said Sean Lynch, co-head of global equity strategy at the Wells Fargo Investment Institute. "It's just worries that some of this political noise can complicate the chance of possible tax reform, health care reform and other policy measures that could boost the economy."

The Standard & Poor's 500 index fell 19.69 points, or 0.8 percent, to 2,419.38. The Dow Jones industrial average slid 98.89 points, or 0.5 percent, to 21,310.66. The Nasdaq composite lost 100.53 points, or 1.6 percent, to 6,146.62. The Russell 2000 of small-company stocks gave up 13.10 points, or 0.9 percent, to 1,403.54.

Bond prices fell. The 10-year Treasury yield rose to 2.20 percent from 2.13 percent late Monday.

The bond sell-off was triggered early Tuesday as investors reacted to remarks from European Central Bank President Mario Draghi, who expressed optimism over the future of the economy of the 19-country eurozone. And while Draghi did not say the ECB was ready to rein back its stimulus measures, investors took his remarks as a hint that a change of policy could be coming in the next few months.


"The comments he made, that talked about deflation being nonexistent, were taken by the market pretty positively," said Lynch. "The worries of that six months ago were penalizing stocks and penalizing financials."

European stock markets closed lower as the euro surged following Draghi's remarks.

Germany's DAX fell 0.8 percent, while France's CAC 40 slid 0.7 percent. The FTSE 100 of leading British shares shed 0.2 percent.

The dollar rose to 112.15 yen from 111.89 yen late Monday. The euro strengthened to $1.1347 from $1.1181.

Investors also weighed new data on U.S. home prices and consumer confidence. The S&P's CoreLogic Case-Shiller 20-city home price index shows home prices climbed 5.7 percent nationwide in April. The latest gain follows price increases of 5.9 percent in March and February. Separately, the Conference Board reported that its consumer confidence index rose to 118.9 this month from 117.6 in May.

Technology companies were among the biggest decliners Tuesday.

Computer memory maker Seagate Technology gave up $2.88, or 6.8 percent, to $39.51, while semiconductor manufacturer Advanced Micro Devices slid 68 cents, or 4.8 percent, to $13.40. Netflix also fell, losing $6.47, or 4.1 percent, to $151.03.

Alphabet, Google's parent company, slid 2.5 percent after the European Union slapped the online search giant with a $2.7 billion fine. The EU alleges that the company breached antitrust rules with its online shopping service. Alphabet said it is considering an appeal. Alphabet shares fell $24 to $948.09.

Investors also had their eye on the latest company earnings and deal news.

Darden Restaurants rose 2.9 percent after the owner of Olive Garden and other chain restaurants reported earnings that were better than analysts expected. The stock added $2.61 to $92.69.


Sprint gained 2.1 percent following a published report suggesting the mobile phone company is in talks with Charter Communications and Comcast Corp. on a deal that could enable the cable operators to buy a stake in Sprint. Sprint picked up 17 cents to $8.18. Comcast slid 34 cents, or about 1 percent, to $39.25, while Charter lost $2.78, or 0.8 percent, to $329.87.

J.C. Penney added 3.2 percent after an analyst upgraded the stock to hold from sell, saying the struggling retailer should be able to meet its sales target for the year. Penney shares rose 15 cents to $4.82.

Shares in Kohl's gained 2.4 percent after the retailer announced it has appointed Bruce Besanko as chief financial officer. Besanko had held the same role at Supervalu. Kohl's added 89 cents to $38.41.

Oil and gas futures notched gains Tuesday.

Benchmark U.S. crude gained 86 cents, or 2 percent, to settle at $44.24 per barrel in New York. Brent, the international standard, added 82 cents, or 1.8 percent, to close at $46.65 per barrel in London.

In other commodities trading, wholesale gasoline rose 2 cents to $1.46 per gallon. Heating oil also added 3 cents to $1.41 per gallon. Natural gas gained a penny to $3.04 per 1,000 cubic feet.

Gold inched up 50 cents to settle at $1,246.90 ounce. Silver added 2 cents to $16.59 per ounce. Copper gained 2 cents to $2.65 per pound.
*
*


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## bigdog

https://www.usnews.com/news/busines...ead-us-stocks-broadly-higher-in-early-trading

* US Stock Market Makes Biggest Gain in 2 Months *

*The U.S. stock market notched its biggest gain in two months Wednesday, bouncing back from losses a day earlier.*

By ALEX VEIGA, AP Business Writer

The U.S. stock market notched its biggest gain in two months Wednesday, bouncing back from losses a day earlier.

Banks and other financial companies led the rally as investors bet on interest rates climbing further. Banks can make more money on lending when rates move higher.

Technology companies were among the big gainers, recouping some of their recent losses. Energy stocks also rose as the price of crude oil closed higher for the fifth straight day. Utilities and real estate companies were the only laggards.

"Across the board, sector strength is very, very strong," said Marc Chaikin, CEO of Chaikin Analytics. "Whoever wanted to sell into the holiday weekend basically did it yesterday and we probably have a positive bias going into the four-day weekend."

The Standard & Poor's 500 index gained 21.31 points, or 0.9 percent, to 2,440.69. That's the index's biggest single-day gain since April 24. The Dow Jones industrial average added 143.95 points, or 0.7 percent, to 21,454.61. The Nasdaq composite rose 87.79 points, or 1.4 percent, to 6,234.41.

Smaller companies fared better than the rest of the market. The Russell 2000 index of small-company stocks picked up 21.75 points, or 1.6 percent, to 1,425.27.

Bond prices fell. The 10-year Treasury yield rose to 2.22 percent from 2.21 percent late Tuesday.

The market rebounded from Tuesday's technology-led sell-off. The major indexes moved higher as trading got underway Wednesday and carried the momentum the rest of the day.

"These equity markets are perhaps in more of a relief rally, with investors coming back in after being away a bit here," said Chris Gaffney, president of World Markets at EverBank. "It's is the end of the quarter, so we'll probably see more volatility going into the end."


Traders bid up shares in financial sector companies amid heightened expectations that interest rates could be headed higher. Rising rates let banks make bigger profits on mortgages and other types of loans.

"Global rates are going to move higher and that, of course, helps financials across the board," Gaffney said.

Bank of America added 61 cents, or 2.6 percent, to $23.88, while Prudential Financial rose $2.66, or 2.5 percent, to $107.26. Wells Fargo gained $1.17, or 2.2 percent, to $54.33.

Investors also bid up shares in companies that reported improved quarterly results.

Homebuilder KB Home climbed $1.24, or 5.4 percent, to $24.06, while wireless communications company CalAmp gained $1.19, or 6.2 percent, to $20.44. General Mills, the maker of Cheerios cereal, Yoplait yogurt and other packaged foods, added 90 cents, or 1.6 percent, to $56.42.

News of corporate deals also helped lift the market.

Staples climbed 8.5 percent after the Wall Street Journal reported that the office supplies retailer has agreed to be acquired by private equity firm Sycamore Partners. The stock was the biggest gainer in the S&P 500 index, rising 78 cents to $9.94.

Spectranetics surged 26.2 percent after Dutch electronics and health care technology company Philips said it agreed to buy the medical device company for $38.50 a share, or $2.2 billion. Spectranetics gained $7.95 to $38.35.

FedEx shares temporarily halted trading before the package delivery giant disclosed that an information system virus significantly affected the global operations of its TNT Express subsidiary.

In a statement, FedEx said that while TNT's operations and communications systems were disrupted, "no data breach is known to have occurred." The company noted that operations of all other FedEx companies were unaffected. The stock rose $2.82, or 1.3 percent, to $217.15.


Oil and natural gas futures notched gains Wednesday.

Benchmark U.S. crude added 50 cents, or 1.1 percent, to $44.74 a barrel in New York. Brent crude, the international standard, rose 66 cents, or 1.4 percent, to $47.31 per barrel in London. Wholesale gasoline rose 2 cents to $1.48 per gallon. Heating oil also added 2 cents to $1.43 per gallon. Natural gas gained 3 cents to $3.07 per 1,000 cubic feet.

In other commodities trading, gold rose $2.20 to settle at $1,249.10 per ounce. Silver added 14 cents to $16.73 per ounce. Copper gained 1 cent to $2.66 per pound.

The dollar rose to 112.28 from 112.15 yen late Monday. The euro strengthened to $1.1382 from $1.1347.

Major stock indexes in Europe declined as investors fretted over the prospect of tighter monetary policy from major central banks.

Germany's DAX slid 0.2 percent, while the CAC 40 of France fell 0.1 percent. Britain's FTSE 100 lost 0.6 percent.

Earlier in Asia, Hong Kong's Hang Seng fell 0.6 percent, while Japan's benchmark Nikkei 225 index lost 0.5 percent. South Korea's Kospi shed 0.4 percent. Australia's S&P/ASX 200 gained 0.7 percent. Shares fell in Taiwan and most of Southeast Asia.
*
*


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## bigdog

https://finance.yahoo.com/news/us-s...rly-trading-oil-rises-141958625--finance.html

*Steep slide in tech companies pulls US stocks lower*




Alex Veiga, AP Business Writer

A steep slide in technology companies pulled U.S. stocks lower Thursday, erasing gains from the previous day.

Investors also sold big-dividend stocks as bond yields rose. Banks and energy stocks bucked the broader market decline. Crude oil prices closed higher for the sixth straight day.

The shift out of the technology sector came as investors bet central bankers may be ready to lift rates. That spurred many traders to move out of growth sectors, like technology, and into value stocks, such as banks, said Erik Davidson, chief investment officer at Wells Fargo Private Bank.

"It's been a good day for energy and financials and a terrible day in particular for technology," Davidson said. "To the extent that you're going to be looking to put money into financials, into energy, you have to pull it from somewhere, and the sector that has done best so far this year is technology."

The Standard & Poor's 500 index fell 20.99 points, or 0.9 percent, to 2,419.70. The Dow Jones industrial average slid 167.58 points, or 0.8 percent, to 21,287.03. The average was down briefly more than 257 points.

The Nasdaq composite lost 90.06 points, or 1.4 percent, to 6,144.35. The Russell 2000 index of small-company stocks gave up 9.07 points, or 0.6 percent, to 1,416.20.

Bond prices fell. The 10-year Treasury yield rose to 2.27 percent from 2.23 percent late Wednesday.

The stock market was coming off its biggest gain in two months. The market slide came about despite some encouraging news on the U.S. economy.

The Commerce Department said that the nation's gross domestic product, the broadest measure of economic health, increased at an annual rate of 1.4 percent in the first quarter. That's better than the previous estimate of 1.2 percent and double the initial estimate of 0.7 percent. The upgrade reflects new-found strength in consumer spending and exports.

Still, investors appeared more focused on the possibility of higher interest rates following recent remarks from the president of the European Central Bank and the governor of the Bank of England.

"We've had a lot of commentary from central bankers around the world suggesting perhaps that it is within the field of vision that we could see some of the accommodation being removed from the system," said Eric Wiegand, senior portfolio manager for Private Wealth Management at U.S. Bank. "While we don't think that's imminent, it certainly does give investors something to consider."

Semiconductor manufacturers led the technology sector slide.

Advanced Micro Devices fell the most among companies in the S&P 500 index, losing 63 cents, or 4.8 percent, to $12.60. Lam Research gave up $5.48, or 3.7 percent, to $142.35. Alphabet, Google's parent company, also fell, shedding $23.19, or 2.4 percent, to $937.82. Facebook declined $2.20, or 1.4 percent, to $151.04. Apple slid $2.15, or 1.5 percent, to $143.68.

All told, the technology sector fell 1.8 percent. Despite the drop, the sector leads all other sectors this year with a gain of 16.5 percent.

"People are a little bit nervous about the high-flying tech sector," Davidson said. "Valuations are getting pretty stretched, so this is providing some opportunity to redeploy some of those assets into something that may be about to turn, the financials in particular."

Financial sector stocks have been mostly rising this week as investors bet on interest rates climbing further. Banks can make more money on lending when rates move higher.

Bank stocks also got a boost from the Federal Reserve. The central bank said late Wednesday that 34 of the biggest U.S. banks can buy back more stock and raise their dividends because their balance sheets are strong enough to bear a major downturn in the economy.

The Fed's announcement marked the first time that all of the banks passed their so-called stress tests, which were created after the global financial crisis of 2008.

Citigroup gained $1.80, or 2.8 percent, to $66.98, while Regions Financial climbed 57 cents, or 4 percent, to $14.66. Bank of America added 44 cents, or 1.8 percent, to $24.32.

Traders also had their eye on the latest company earnings and deal news.

Acuity Brands jumped 10.5 percent after the lighting company's latest quarterly earnings and sales exceeded Wall Street's expectations. The stock was the biggest gainer in the S&P 500 index, adding $18.79 to $198.52.

Staples rose 1.5 percent after private equity firm Sycamore Partners agreed to buy the office supplies chain for $6.9 billion. Staples gained 15 cents to $10.08.

Rite Aid slumped 26.5 percent after Walgreens Boots Alliance abandoned a bid to buy the rival drugstore chain following resistance from U.S. regulators. Walgreens will now buy more than 2,000 stores, three distribution centers and inventory in a new deal. Rite Aid fell $1.04 to $2.89. Walgreens gained $1.28, or 1.7 percent, to $78.37.

The termination of the Rite Aid buyout canceled a related asset deal involving Fred's Pharmacy. Shares in Fred's slid $2.81, or 22.8 percent, to $9.51.

Oil prices closed higher despite paring some early gains. Benchmark U.S. crude rose 19 cents to settle at $44.93 a barrel in New York. Brent, the international standard, gained 9 cents to close at $47.63 in London.

In other energy futures trading, wholesale gasoline held steady at $1.48 per gallon. Heating oil added 1 cent to $1.45 per gallon. Natural gas slipped 5 cents to $3.04 per 1,000 cubic feet.

Among metals, gold fell $3.30 to settle at $1,245.80 per ounce. Silver slipped 14 cents to $16.65 per ounce. Copper gained 2 cents to $2.70 per pound.

The dollar fell to 112.07 yen from 112.28 yen late Wednesday. The euro strengthened to $1.1432 from $1.1382. The British pound rose to $1.2991 from $1.2929. European currency markets have been volatile in recent days after leading central bankers appeared to hint at a turn in monetary policy soon.

Major stock indexes in Europe also closed lower. Germany's DAX fell 1.8 percent, while the CAC 40 in France slid 1.9 percent. The FTSE 100 index of leading British shares lost 0.5 percent.

In Asia, Japan's benchmark Nikkei 225 index rose 0.5 percent, while South Korea's Kospi gained 0.6 percent. Hong Kong's Hang Seng added 1.1 percent. Australia's S&P/ASX 200 climbed 1.1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...xes-broadly-higher-in-early-trading-oil-rises

* Industrial Companies Lead US Stock Indexes Mostly Higher *

*Wall Street closed out the final day of the second quarter with slight gains after a broad rally faded in the last few minutes of trading Friday.*

By ALEX VEIGA, AP Business Writer

Wall Street closed out the final day of the second quarter with slight gains after a broad rally faded in the last few minutes of trading Friday.

The Dow Jones industrial average and the Standard & Poor's 500 index eked out tiny gains, while the Nasdaq composite closed essentially flat.

Industrial stocks and consumer-focused companies led the gainers. Energy stocks also rose as crude oil prices closed higher for the seventh straight day. Utilities, technology and health care companies were among the biggest decliners.

Trading was mostly subdued ahead of the Independence Day holiday next week, though many investors seized on the final trading day of the quarter and the previous day's market slide to buy more shares or close out positions and book profits.

"Overall we're ending this quarter with a strong market, even though technology has taken a hit, other sectors have moved up," said Quincy Krosby, chief market strategist at Prudential Financial.

The S&P 500 index rose 3.71 points, or 0.2 percent, to 2,423.41. The Dow gained 62.60 points, or 0.3 percent, to 21,349.63. The Nasdaq lost 3.93 points, or 0.1 percent, to 6,140.42. The Russell 2000 index of small-company stocks gave up 0.84 points, or 0.1 percent, to 1,415.36.

Bond prices fell. The 10-year Treasury yield rose to 2.30 percent from 2.27 percent late Thursday.

The major stock indexes got off to a shaky start early Friday, but soon veered higher and held course for much of the day. A last-minute flurry of selling nudged the Nasdaq and Russell 2000 slightly into the red.

The Dow, S&P 500 and Nasdaq ended the week in negative territory. This was also the worst week of the year for the Nasdaq and the third loss in the last four weeks for the tech-heavy index.


The market's snapshot at the halfway mark for 2017 is more encouraging, however.

The S&P 500 index, the broadest measure of the stock market, is up 8.2 percent this year, while the Dow is up 8 percent. The Nasdaq has racked up a gain of 14.1 percent. The Russell 2000 is up 4.3 percent.

Strong corporate earnings and revenue have underpinned the market's gains this year. Expectations among investors that President Donald Trump and the Republican-led Congress would slash taxes, boost federal spending on infrastructure and enact other business-friendly policies have also helped drive stocks higher.

Investors appeared to temper those expectations in recent weeks as the Trump administration hit legislative snags in its bid to pass a health insurance overhaul.

On Thursday, S&P Global Ratings noted that sentiment on Wall Street, which had been strong following Trump's election, has begun to soften.

"Now, we no longer believe the federal government will be able to push through even a small infrastructure-spending package, and we expect only moderate tax cuts to be passed early next year as midterm elections approach," wrote Beth Ann Bovino, S&P Global's U.S. chief economist.

Remarks from central bank officials in Europe earlier this week helped set the tone for the market, spurring speculation among investors that global interest rates could move higher. That sent bond yield sharply higher and helped lift shares in banks. Traders also sold off technology stocks. The sector had its worst week this year.

Even so, technology still leads all other sectors. It's up 16.4 percent this year, followed by health care and consumer discretionary stocks. Energy stocks are the biggest laggard at the midpoint of the year, down 13.8 percent. Phone companies are also in the red.


On Friday, investors sized up the latest company earnings and deal news.

The Commerce Department said consumer spending grew just 0.1 percent in May, less than the last couple of months. Personal income grew by a healthy 0.4 percent, but spending only rose 0.1 percent.

Athletic apparel maker Nike had its best day in almost two years Friday. Its shares jumped 11 percent after a strong quarterly report. Nike also said it's testing a program to sell sneakers directly through Amazon.com. Nike shares were the biggest gainer in the S&P 500, adding $5.83 to $59.

Specialty contractor Quanta Services was the biggest gainer in the industrials sector, rising $1.04, or 3.3 percent, to $32.92.

Parkway vaulted 12.3 percent after the Canada Pension Plan Investment Board agreed to buy the commercial real estate investment trust for about $1.13 billion. Parkway rose $2.51 to $22.89.

Hain Celestial climbed 8.6 percent after activist investor Engaged Capital disclosed a 9.9 percent stake in the organic food maker. Hain shares added $3.06 to $38.82.

American Outdoor Brands slid 7.4 percent after the firearms maker issued weak forecasts for the current quarter and the fiscal year. Shares in the company, which changed its name from Smith & Wesson earlier this year, fell $1.78 to $22.16.

Crude oil prices closed higher for the seventh straight day. Benchmark U.S. crude gained $1.11, or 2.5 percent, to settle at $46.04 a barrel in New York. Brent, the international standard, rose $1.14, or 2.4 percent, to close at $48.77 a barrel in London.

In other energy futures trading, wholesale gasoline picked up 4 cents to $1.51 per gallon. Heating oil added 3 cents to $1.48 per gallon. Natural gas was little changed at $3.04 per 1,000 cubic feet.


Among metals, gold fell $3.50 to settle at $1,242.30 per ounce. Silver slipped 3 cents to $16.63 per ounce. Copper gained 2 cents to $2.71 per pound.

The dollar rose to 112.45 yen from 112.07 yen late Thursday. The euro gave up some of its gains from earlier in the week. The euro weakened to $1.1417 from $1.1432. The pound rose to $1.3014 from $1.2991.

Major stock indexes in Europe closed lower Friday.

Germany's DAX and the CAC 40 in France each lost 0.7 percent. The FTSE 100 index of leading British shares slid 0.5 percent.

In Asia, trading was mixed. The Hang Seng in Hong Kong fell 0.8 percent, while Japan's Nikkei 225 index dropped 0.9 percent. South Korea's Kospi lost 0.2 percent, while Australia's S&P ASX 200 lost 1.7 percent. Shares in Southeast Asia were mostly lower.

9997


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## bigdog

https://www.usnews.com/news/busines...nergy-companies-give-us-stock-indexes-a-boost

* Gains for Energy Companies and Banks Boost Stock Indexes *

*US stocks rise in a shortened day of trading as banks rise along with bond yields and interest rates and energy companies rise with oil prices.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks rose Monday as banks continued to climb along with interest rates, and energy companies rallied again with oil prices. Better-than-expected auto sales and a strong report on U.S. factories also boosted stocks.

Energy companies made large gains in Monday's abbreviated trading session as oil prices rose for the eighth day in a row. Banks rose as bond yields and interest rates continued to rise. Companies that stand to benefit from faster economic growth, like industrial companies and basic materials makers, climbed after the Institute for Supply Management said U.S. manufacturing activity climbed in June to its highest level in almost three years.

"The market clearly liked that number," said Scott Wren, senior global equity strategist for Wells Fargo Investment Institute. He said that economic reports over the last few months have been a bit disappointing, but "It's still in line with expectations for modest GDP growth."

The Standard & Poor's 500 index added 5.61 points, or 0.2 percent, to 2,429.02. The Dow Jones industrial average rose 129.64 points, or 0.6 percent, to 21,479.27. The Russell 2000 index of smaller-company stocks added 11.32 points, or 0.8 percent, to finish at a record high of 1,426.68.

The Nasdaq composite lost 30.36 points, or 0.5 percent, to 6,110.06. That was a six-week low, as technology companies have been slumping for almost a month.

Overall, almost three-fourths of the stocks on the New York Stock Exchange finished higher.

Banks continued their recent winning ways as bond yields and interest rates increased further. Higher interest rates let banks make more money from lending, and that helped financial companies rally last week. Major banks also raised their dividends and said they will buy back more stock. JPMorgan Chase added $1.85, or 2 percent, to $92.75 and Citigroup rose $1.38, or 2.1 percent, to $68.26. Morgan Stanley climbed $1.05, or 2.4 percent, to $45.61.


Bond prices fell. The yield on the 10-year Treasury note rose to 2.34 percent from 2.30 percent.

U.S. factories did more work in June, according to the Institute for Supply Management. The group's survey of manufacturing reached its highest level since August 2014. That suggests the economy could be getting stronger and that U.S. manufacturing continues to recover after a slump in late 2015 and early 2016.

General Electric rose 44 cents, or 1.6 percent, to $27.45 and chemicals maker DuPont added $1.42, or 1.8 percent, to $82.13.

Benchmark U.S. crude gained 73 cents, or 1.6 percent, to $46.77 a barrel in New York, its eighth gain in a row. Brent crude, used to price international oils, rose 62 cents, or 1.3 percent, to $49.39 a barrel in London. Before their recent winning streak, crude prices had reached their lowest levels of the year. Exxon Mobil rose $1.37, or 1.7 percent, to $82.10 and ConocoPhillips added $1.70, or 3.9 percent, to $45.66.

Car companies reported their monthly sales on Monday, and while overall sales continued to slip, the stocks mostly traded higher as investors felt the results were reasonably strong. Ford and GM said their sales each fell about 5 percent, but Ford gained 37 cents, or 3.3 percent, to $11.56 and GM rose 64 cents, or 1.8 percent, to $35.57. Fiat Chrysler advanced 44 cents, or 4.1 percent, to $11.07 despite a 7-percent decline in its sales. Auto parts companies mostly rose as well.


Consumer financial services company Bankrate climbed $1.10, or 8.6 percent, to $13.95 percent after it agreed to be acquired by Red Ventures for $14 a share, or $1.25 billion.

Activist investment firm Jana Partners disclosed a 5.8 percent stake in EQT and said it opposes the energy company's plan to buy Rice Energy. The firm said it wants EQT to split off its exploration and production business instead. EQT agreed to buy Rice Energy for $6.7 billion in cash and stock last month. The deal would make EQT the largest U.S. producer of natural gas. EQT shares added $1.16, or 2 percent, to $59.75 while Rice Energy tumbled 97 cents, or 3.6 percent, to $25.66.

In other energy trading, wholesale gasoline added 1 cent to $1.53 a gallon and heating oil rose 3 cents to $1.51 a gallon. Natural gas dropped 7 cents, or 2.3 percent, to $2.97 per 1,000 cubic feet.

Precious metals prices dropped. Gold fell $23.10, or 1.9 percent, to $1,219.20 an ounce while silver lost 54 cents, or 3.2 percent, to $16.09 an ounce. Copper slipped 2 cents to $2.69 a pound.

Gold and copper miner Newmont Mining fell 50 cents, or 1.5 percent, to $31.89.

The dollar jumped to 113.37 yen from 112.54 yen on Friday. The euro fell to $1.1368 from $1.1422.

France's CAC-40 gained 1.5 percent and the German DAX added 1.2 percent. London's FTSE 100 advanced 0.9 percent. In Tokyo, the Nikkei 225 added 0.1 percent. Hong Kong's Hang Seng was unchanged and the Kospi in South Korea added 0.1 percent.
*
*


----------



## bigdog

*Wall Street was shut for U.S. Independence Day July 4*






https://finance.yahoo.com/m/56d08a48-fde7-3035-978e-134f32265167/ss_aussie-stocks-shine-as-us.html

*Aussie stocks shine as US holiday subdues global trading*




KELVIN CHAN
Associated Press

HONG KONG (AP) — Australian stocks were the standout performers Tuesday as the central bank kept interest rates unchanged and signaled they wouldn't be raised soon. Elsewhere, trading was subdued as Wall Street was shut for U.S. Independence Day and amid unease over North Korea's latest missile launch.

KEEPING SCORE: In Europe, France's CAC 40 closed 0.4 percent lower at 5,174.90 while Germany's DAX dropped 0.3 percent to 12,437.13. Britain's FTSE 100 ended down 0.3 percent as well, at 7,357.23.

DECISION DOWN UNDER: Officials at the Reserve Bank of Australia kept interest rates unchanged at 1.5 percent following a monthly policy board meeting, saying it was the right level for sustainable economic growth and to hit inflation targets. More importantly, they indicated they wouldn't follow counterparts in the U.S., Britain, Europe and Canada who have either started raising rates or are considering doing so. The surprisingly neutral stance of the RBA was felt across markets. The Australian dollar fell 0.7 percent to $0.7607 as traders priced in a lower rate profile going out, but that helped stocks, and the country's main S&P/ASX index surged 1.8 percent to close at 5,783.80.

ANALYST TAKE: "Expectations that the RBA would adopt a more hawkish rhetoric were misplaced," said Lee Hardman, currency analyst at MUFG.

ASIAN SCORECARD: Elsewhere in Asia, Japan's benchmark Nikkei 225 index shed 0.1 percent to 20,032.35. South Korea's Kospi declined 0.6 percent to 2,380.52 and Hong Kong's Hang Seng slumped 1.5 percent to 25,389.01. The Shanghai Composite Index lost 0.4 percent to 3,182.80. Benchmarks in Taiwan and Southeast Asia also lost ground.

ROCKET LAUNCH: Shares in Seoul wobbled briefly after first reports that Pyongyang fired yet another ballistic missile toward Japan. Stocks resumed sliding as more details came in. North Korean state media said it was the country's first successful test of an intercontinental ballistic missile, flying 933 kilometers (580 miles) for 39 minutes before falling into the sea.

ENERGY: Benchmark U.S. crude advanced 10 cents to $47.17 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, used to price international oils, rose 8 cents to $49.76 a barrel in London.

CURRENCIES: The euro was down 0.1 percent at $1.1348 while the dollar fell 0.2 percent to 113.17 yen.


----------



## bigdog

https://finance.yahoo.com/m/ad0fc860-bfab-372e-90d2-9b4f6f6dd73a/ss_stocks-held-back-by-slumps.html

*Stocks held back by slumps for energy, auto parts companies*




MARLEY JAY
Associated Press

NEW YORK (AP) — U.S. stock indexes were mixed Wednesday as energy companies skidded along with oil prices, but technology stocks rose and reversed a portion of their recent losses.

After O'Reilly Automotive reported weak sales growth in the second quarter, the three biggest losers on the Standard & Poor's 500 index were all auto parts companies. Car makers slumped, too.

An eight-day rally in U.S. crude oil prices ended with a thud and energy companies took sharp losses. Retailers and small, domestically-focused companies also struggled.

Technology companies bucked the trend and finished higher. Those companies have hit a wall in the last month. Banks and industrial and health care companies also rose on another quiet day of trading after the Independence Day holiday.

The Federal Reserve is trying to decide when it will start letting its $4.5 trillion bond portfolio shrink. Some Fed officials want to announce the start of that process within a few months, according to minutes from the central bank's June meeting, while others want to wait longer.

"The Fed seems to be a little bit divided over what it's going to do," said Doug Burtnick, deputy head of North American equities for Aberdeen Asset Management. He said that division makes investors put more emphasis on economic reports and other data.

"You're going to see a lot of pieces as early as next week because that's when you're going to start seeing a lot of earnings reports from banks," Burtnick added, and Wall Street will get a clearer view of how much money banks are lending.

The Standard & Poor's 500 index added 4.55 points, or 0.2 percent, to 2,432.54. The Dow Jones industrial average slid 1.10 points to 21,478.17. Nasdaq composite rose 40.80 points, or 0.7 percent, to 6,150.86. The Russell 2000 index of smaller-company stocks sank 6.54 points, or 0.5 percent, to 1,420.15.

Benchmark U.S. crude dropped $1.94, or 4.1 percent, to $45.13 a barrel in New York. Brent crude, used to price international oils, sank $1.82, or 3.7 percent, to $47.79 a barrel in London. U.S. crude reached an annual low in late June, and then jumped 11 percent over the next eight trading days.

Hess fell $2.06, or 4.5 percent, to $43.36 and Exxon Mobil shed $1.25, or 1.5 percent, to $80.85.

O'Reilly Automotive said sales were sluggish at its older locations over the last three months because of weak demand and the effects of a mild winter. Its stock lost $41.64, or 18.9 percent, to $178.77.

Advance Auto Parts gave up $13.20, or 11.1 percent, to $105.21 and AutoZone slid $54.88, or 9.6 percent, to $516.83. Those three companies have each plunged more than 30 percent this year as investors worry about the effects of slowing car sales.

Tesla took its biggest loss in a year after as investors were disappointed with the company's second-quarter production and delivery totals. The electric car maker's stock dropped $25.53, or 7.2 percent, to $327.09.

Elsewhere Ford declined 26 cents, or 2.2 percent, to $11.30 while General Motors sagged 56 cents, or 1.6 percent, to $35.01. Automakers had rallied Monday after they reported their monthly sales.

Payment processor Vantiv will buy the U.K.'s Worldpay for about $10 billion. Worldpay allows businesses to accept credit cards and online payments, and it released a statement Wednesday saying the companies agreed on the key terms of an acquisition. Vantiv stock retreated $1.49, or 2.4 percent, to $61.02. Payment technology companies Square and PayPal both climbed.

Monogram Residential, which owns and operates luxury apartment communities, climbed after it agreed to be bought by real estate company Greystar and a group of investors. The deal values Monogram at $12 a share, or about $2 billion. Monogram stock added $2.09, or 21.3 percent, to $11.89.

Technology companies did relatively well, although they have taken sharp losses over the last month. Chinese e-commerce company Baidu rose $3.86, or 2.1 percent, to $183.83 and chipmaker Nvidia gained $3.72, or 2.7 percent, to $143.05. The companies said they will work together on a group of projects intended to bring artificial intelligence technology to cloud competing, autonomous cars and home assistants.

In other energy trading, wholesale gasoline fell 3 cents, or 2.1 percent, to $1.50 a gallon. Heating oil shed 3 cents, or 2.3 percent, to $1.48 a gallon. Natural gas slumped 11 cents, or 3.8 percent, to $2.84 per 1,000 cubic feet.

Bond prices edged higher. The yield on the 10-year Treasury note dipped to 2.33 percent from 2.35 percent late Monday.

Gold rose $2.50 to $1,221.70 an ounce. Silver fell 20 cents to $15.90 an ounce. Copper lost 3 cents to $2.66 a pound.

The dollar declined to 113.35 yen from 113.39 yen. The euro fell to $1.1340 from $1.1358.

The CAC 40 of France, the DAX in Germany and Britain's FTSE 100 each rose 0.1 percent. Japan's benchmark Nikkei 225 index gained 0.3 percent while the Kospi in South Korea added 0.3 percent. Hong Kong's Hang Seng rose 0.5 percent.


----------



## bigdog

https://www.usnews.com/news/busines...-on-concerns-about-slow-hiring-retailers-drop

* Stocks Skid on Worries About Slower Hiring and Growth *

*US stocks take their biggest loss since mid-May as investors react to a survey that showed slow hiring in June.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks took their biggest loss in more than six weeks Thursday as investors reacted to mounting evidence that hiring has slowed down. Energy and health care companies fell sharply, and so did retailers.

Stocks slumped after ADP, a payroll processing company, said private businesses added fewer jobs in June than investors had expected. The losses deepened in afternoon trading.

Bond prices fell and yields jumped, which hurt companies that pay large dividends, such as major drug companies and real estate investment trusts. Retailers sank after L Brands, the parent company of Victoria's Secret, reported weak sales in June.

The ADP survey was the latest piece of evidence that hiring has slowed down in recent months. That has investors worried, because the European Central Bank may start raising rates soon and rates are already rising in the U.S. Higher interest rates tend to slow down economic growth.

"If rates rise meaningfully, it will end up hampering growth expectations," said Krishna Memani, chief investment officer at Oppenheimer Fund.

The Standard & Poor's 500 index dropped 22.79 points, or 0.9 percent, to 2,409.75. The Dow Jones industrial average fell 158.13 points, or 0.7 percent, to 21,320.04. The Nasdaq composite sank 61.39 points, or 1 percent, to 6,089.46. The Russell 2000 index, which is comprised of smaller, more U.S.-focused companies, shed 19.33 points, or 1.4 percent, to 1,400.81.

ADP's survey showed that private U.S. businesses added 158,000 jobs in June, and the firm lowered its estimates for job growth in April and May. The unemployment rate is at 40-year lows, but there isn't much evidence that wage gains and economic growth are speeding up.


"We were expecting a significantly higher growth rate in the second quarter," said Memani. "It's not panning out that way."

All of the 61 health care companies listed on the S&P 500 lost ground. Biotech drugmaker Amgen declined $2.54, or 1.5 percent, to $171.72 and medical device maker Medtronic lost $1.64, or 1.8 percent, to $87.26.

Drugmaker Merck skidded $1.06, or 1.7 percent, to $63.10 after it stopped two studies of its cancer drug Keytruda as a treatment for multiple myeloma. Merck said more patients who were treated with Keytruda died, and the Food and Drug Administration halted the studies because the risks of a treatment regimen that included Keytruda outweighed the potential benefits.

L Brands said its sales fell 6 percent in June as the company continues to struggle with the effects of ending its swimwear business. The stock gave up $7.62, or 14.1 percent, to $46.49, by far the largest loss of any S&P 500 company. Athletic apparel maker Under Armour fell $1.49, or 6.7 percent, to $20.65 and Hanesbrands shed 65 cents, or 2.8 percent, to $22.53. Signet Jewelers lost $2.52, or 3.9 percent, to $61.57.

Bond prices skidded. The yield on the 10-year Treasury note rose to 2.36 percent from 2.33 percent. Investors sold shares of big-dividend stocks, as the rising bond yields made those stocks less appealing to investors seeking income.

Technology companies, which have been in a swoon over the last month, turned lower again. Apple sank $1.36 to $142.73 and Intel dropped 71 cents, or 2.1 percent, to $33.63. Electronic storage company Seagate Technology retreated $1.73, or 4.4 percent, to $37.29.

The parent company of QVC will buy the rest of Home Shopping Network that it didn't already own for about $2.6 billion in stock. Liberty Interactive said it will value QVC at $40.36 a share in the deal. It already owns a 38 percent stake in HSN, which jumped $8.40, or 26.8 percent, to $39.70. Liberty Interactive fell 30 cents, or 1.2 percent, to $24.16.


Global leaders arrived in Hamburg, Germany, for the G-20 summit as the U.S. and South Korea continued to respond to North Korea's recent missile test. On Thursday, South Korean jets and navy ships fired missiles into the ocean during drills, a display of military power two days after North Korea test-launched its first intercontinental ballistic missile.

The VIX, a measurement of how much volatility investors expect, climbed 13 percent to 12.53, although that is still a relatively low level.

Energy companies faded even though fuel prices increased. Benchmark U.S. crude oil rose 39 cents to $45.52 a barrel in New York. Brent crude, used to price international oils, added 32 cents to $48.11 a barrel in London.

Wholesale gasoline added 3 cents to $1.53 a gallon. Heating oil remained at $1.48 a gallon. Natural gas climbed 5 cents to $2.89 per 1,000 cubic feet.

Gold inched up $1.60 to $1,223.30 an ounce. Silver gained 9 cents to $15.98 an ounce. Copper remained at $2.66 a pound.

The dollar slipped to 113.26 yen from 113.35 yen. The euro rose to $1.1423 from $1.1340.

Germany's DAX fell 0.6 percent and the CAC 40 in France was 0.5 percent lower. The British FTSE 100 index lost 0.4 percent. Japan's Nikkei 225 fell 0.4 percent and the Kospi in South Korea edged down less than 0.1 percent. The Hang Seng of Hong Kong shed 0.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ks-bounce-higher-after-solid-june-jobs-report

* Solid June Jobs Report Gets Tech and Consumer Stocks Jumping *

*US stocks rise, led by technology companies and consumer-focused companies like McDonald's and Amazon, after the government said hiring grew at a faster pace in June.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks climbed Friday after the government said hiring grew at a stronger pace in June. Technology and consumer-focused companies led the way as investors were glad to see a positive sign for the economy.

The Labor Department said American employers added 222,000 jobs last month. That was more than analysts had expected, and it came just a day after a survey that showed weaker job creation by private companies. Stocks regained much of the ground they lost Thursday. Technology companies jumped and retailers like Amazon and McDonald's traded higher. Bond yields climbed and the dollar got stronger. Gold fell.

"The data itself shows a pretty strong labor market," said Sean Lynch, co-head of global equity strategy for the Wells Fargo Investment Institute. He said it "probably lays to rest some of the worries (that) we were taking a step back from an economic standpoint."

The Standard & Poor's 500 index picked up 15.43 points, or 0.6 percent, to 2,425.18. The Dow Jones industrial average gained 94.30 points, or 0.4 percent, to 21,414.34. It fell 158 points a day earlier. The Nasdaq composite rose 63.61 points, or 1 percent, to 6,153.08. The Russell 2000 index of smaller-company stocks added 15.02 points, or 1.1 percent, to 1,415.84.

The government said more people looked for work in June, which pushed the unemployment rate slightly higher. The government also raised its estimates of job gains in April and May. However average wage growth remained modest. Still, companies that would benefit from better economic growth, like banks and industrial companies, made strong gains.

Facebook added $2.62, or 1.8 percent, to $151.44 and Microsoft rose 89 cents, or 1.3 percent, to $69.46 as technology companies made the biggest gains Friday. They have done better than any other industrial group within the S&P 500 this year.


Despite Friday's gains, technology stocks have had a bad month. The Nasdaq composite closed at an all-time high June 8 and the S&P 500 technology index closed at a 17-year-high. Since then the tech index has dropped 4 percent, its worst one-month stretch since Britain voted to leave the European Union last June. Apple and Alphabet, Google's parent company, have both fallen almost 8 percent in that time, while chipmaker Nvidia is down 10 percent and smaller chip and chip equipment companies have taken even sharper losses.

"If the markets are to go higher, it's got to come from somewhere other than technology," said Lynch.

McDonald's rose $3.18, or 2.1 percent, to $156.27. Amazon picked up $13.62, or 1.4 percent, to $978.76 and Netflix advanced $3.93, or 2.7 percent, to $150.18. Homebuilder D.R. Horton added $1.30, or 3.8 percent, to $35.79.

Stocks dropped Thursday after ADP, a payroll processor, released a survey that showed sluggish hiring by private businesses. Investors have been worried that rising interest rates in the U.S., and possibly in Europe, will affect economic growth, while the end of stimulus measures by the Federal Reserve and European Central Bank could affect stocks, as they have helped support stock markets since the financial crisis in 2008-09.

Benchmark U.S. crude oil lost $1.29, or 2.8 percent, to $44.23 a barrel in New York. Brent crude, used to price international oils, fell $1.40, or 2.9 percent, to $46.71 per barrel in London. Analysts said investors are focused on the strong increase in U.S. production in Thursday's energy supply report. Hess fell $1.04, or 2.4 percent, to $41.79 and Devon Energy gave up 64 cents, or 2.1 percent, to $29.54.


Bond prices fell. The yield on the 10-year Treasury note rose to 2.39 percent from 2.37 percent. Big-dividend stocks like phone companies, household goods makers and utilities mostly lagged the market as investors who sought yield were lured elsewhere.

Advisory Board jumped after Bloomberg said health insurer UnitedHealth Group and private equity firm Vista Equity plan to buy the consulting company and break it up. Advisory Board shares climbed $2.90, or 5.4 percent, to $57.10. Investors currently value the company at about $2.3 billion. UnitedHealth gained $1.02 to $187.96.

Mobile services company Synchronoss Technologies climbed after it said it will review its options, which could include a sale of the company. Siris Capital Group offered to buy the company in late June for $18 a share. The stock climbed 64 cents, or 4 percent, to $16.50.

The dollar rose to 113.99 yen from 113.26 yen. The euro fell to $1.1404 from $1.1423.

Meanwhile gold sank $13.60, or 1.1 percent, to a four-month low of $1,209.70 an ounce. Silver dropped 56 cents, or 3.5 percent, to $15.43 an ounce. Copper lost 1 cent to $2.65 a pound.

In other energy trading, wholesale gasoline fell 3 cents to $1.50 a gallon. Heating oil shed 3 cents to $1.45 a gallon. Natural gas dipped 2 cents to $2.86 per 1,000 cubic feet.

The French CAC 40 lost 0.1 percent. Germany's DAX added 0.1 percent and the FTSE 100 of Britain gained 0.2 percent. Japan's Nikkei 225 lost 0.3 percent and South Korea's Kospi fell 0.3 percent. Hong Kong's Hang Seng index dropped 0.5 percent.

0226


----------



## bigdog

https://www.usnews.com/news/busines...ock-indexes-mixed-in-early-trading-oil-slides

* Tech Stocks Gain in Mixed Finish for Major US Stock Indexes *

*Wall Street capped a mostly listless day of trading Monday with an uneven finish for the major stock indexes.*


By ALEX VEIGA, AP Business Writer

Wall Street capped a mostly listless day of trading Monday with an uneven finish for U.S. stock indexes.

Gains by technology and materials stocks were mostly outweighed by losses among real estate companies, banks and other sectors. Macy's and other big retailers also took hefty losses.

Energy companies rose as the price of crude oil rebounded from an early slide.

Investors were making moves ahead of the next corporate earnings reporting season, which ramps up this week. Technology stocks were a favorite, with traders expecting the sector companies to post solid results, said Anastasia Amoroso, global investment specialist at J.P. Morgan Private Bank.

"There's definitely a pivot going on to earnings from some of the trading last week," Amoroso said, adding that "investors are looking for some of the higher growth-opportunities and tech definitely stands out."

The Standard & Poor's 500 index rose 2.25 points, or 0.1 percent, to 2,427.43. The Dow Jones industrial average slid 5.82 points, or 0.03 percent, to 21,408.52. The Nasdaq composite rose 23.31 points, or 0.4 percent, to 6,176.39. The Russell 2000 index of smaller-company stocks lost 7.36 points, or 0.5 percent, to 1,408.47.

About as many stocks rose as fell on the New York Stock Exchange.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.37 percent from 2.39 percent late Friday.

Trading also got off to a mixed start Monday coming off a broad pickup in major markets in Europe and Asia.

Investors appeared to mostly focus on the coming start of the second-quarter earnings season. The market expects earnings per share growth of about 7 percent from companies in the S&P 500.

Traders also were looking ahead to potential news out of the Federal Reserve later this week. Fed Chair Janet Yellen is due to address Congress on Wednesday and Thursday.


"We're going through a transition phase where interest rates and Fed policy were very friendly for quite some time and that was the most important support for the markets," said Bruce Bittles, chief investment strategist at Baird. "Now we're moving more toward the revival of the global economy, including the U.S., and what that might mean for earnings prospects going forward, and the markets are now dwelling on that potential."

The S&P 500's technology sector, which went through a sell-off a few weeks ago, notched the biggest gain Monday. Chipmaker Nvidia led the group, climbing $6.94, or 4.7 percent, to $153.70.

Materials companies also posted big gains. CF Industries led the pack, adding $1.83, or 6.6 percent, to $29.72.

Big department stores slumped, led by Macy's. The company was the biggest decliner in the S&P 500, sliding $1.60, or 7.1 percent, to $21.08. Gap fell $1.43, or 6.3 percent, to $21.21. Best Buy lost $3.64, or 6.3 percent, to $54.23.

Teen fashion retailer Abercrombie & Fitch sank 21.1 percent after the struggling chain said over the weekend that it is no longer up for sale. The company, which said in May it was talking with several possible buyers, said that sales remain strong at its surf-inspired Hollister brand. The stock shed $2.57 to $9.59.

Investors welcomed news of deals that were actually moving forward.

ClubCorp vaulted 30.2 percent after private equity firm Apollo Global Management agreed to buy the golf and country club company for $17.12 a share, or $1.1 billion. ClubCorp gained $3.95 to $17.05. Apollo rose 57 cents, or 2.2 percent, to $26.91.


Hawaiian Telcom surged 18.1 percent on news the phone company will combine with Cincinnati Bell in a deal Hawaiian Telcom said is worth $650 million, or $30.75 per share of its stock. As part of the deal, Cincinnati Bell is buying another company, OnX Enterprise Solutions, for $201 million. Shares in Hawaiian Telcom added $4.43 to $28.87. Cincinnati Bell slid $1.35, or 7 percent, to $18.

Pepsi and Delta Air Lines are among the big companies due to report their latest quarterly results this week. JPMorgan Chase, PNC Financial Services Group, Wells Fargo and Citigroup report earnings on Friday.

Energy futures notched gains. Benchmark U.S. crude added 17 cents to settle at $44.40 a barrel in New York. Brent crude, used to price international oils, also rose 17 cents to close at $46.88 a barrel in London.

In other energy trading, wholesale gasoline was little changed at $1.50 a gallon. Heating oil also held steady at $1.45 a gallon. Natural gas rose 7 cents, or 2.3 percent, to $2.93 per 1,000 cubic feet.

Gold inched up $3.50 to $1,213.20 an ounce. Silver added 20 cents to $15.63 an ounce. Copper was little changed at $2.65 a pound.

Major markets in Europe closed higher.

Germany's DAX rose 0.5 percent, while the CAC 40 in France gained 0.4 percent. The FTSE 100 index of leading British shares picked up 0.3 percent. Earlier in Asia, Tokyo's Nikkei index gained 0.8 percent, while Hong Kong's Hang Seng added 0.7 percent. Sydney's S&P-ASX 200 gained 0.4 percent. India's Sensex rose 0.9 percent. Kospi added 0.1 percent.

In currency trading, the dollar rose to 114.05 yen from 113.99 yen late Friday. The euro slipped to $1.1403 from $1.1404.


----------



## bigdog

https://finance.yahoo.com/portfolio/pf_3/view/view_4






https://www.usnews.com/news/busines...tocks-mixed-in-early-trading-oil-prices-slide

* Energy Companies Lead US Stock Indexes Mostly Higher *

By ALEX VEIGA, AP Business Writer

Another day of listless trading on Wall Street ended Tuesday with the major stock indexes closing out having shifted marginally from the day before.

Gains in energy and technology companies were canceled out by losses among banks, phone companies and other sectors.

A rebound in crude oil prices helped lift energy stocks, which led the gainers. Banks posted the largest losses.

Investors were making modest moves ahead of Federal Reserve chair Janet Yellen's testimony before Congress on Wednesday and Thursday, and the release of the Fed's Beige Book, an economic snapshot used by the central bank to gauge U.S. economic trends.

The market will key in on both as it tries to discern how Fed policy on interest rates may play out this year and next, said Sameer Samana, global quantitative strategist for the Wells Fargo Investment Institute.

"Any time you have those types of potentially market-moving events, especially with policy being such a big focus right now, people are always a little hesitant" to make big market moves, Samana said.

The Standard & Poor's 500 index fell 1.90 points, or 0.1 percent, to 2,425.53. The Dow Jones industrial average gained 0.55 points to 21,409.07. The Nasdaq composite rose 16.91 points, or 0.3 percent, to 6,193.30. The Russell 2000 index of smaller-company stocks added 4.58 points, or 0.3 percent, to 1,413.05.

Nine of the 11 industry groups in the S&P's 500 index declined. More stocks rose than fell on the New York Stock Exchange.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.36 percent from 2.38 percent late Monday.

The major indexes got off to an uneven start early on, then veered sharply lower before midday as news broke that President Donald Trump's eldest son, Donald Trump Jr., had released an email chain from last year that shows the Trump scion discussing plans to hear damaging information on Hillary Clinton from what was described to him as a Russian government effort to aid his father's campaign.


The news stoked investor worries over whether the headlines could lead to more political uncertainty in Washington and potentially hold up tax cuts, regulatory reform and other business-friendly policy initiatives that the market has been expecting. But the market mostly bounced back from the stumble by the end of the day.

Mostly, investors appeared to be taking a wait-and-see approach ahead of the star of Yellen's two-day appearance before Congress.

Starting Wednesday, traders will be listening for clues as to how aggressively the Fed will continue to raise rates and start to unwind its big bond-buying program. The latest U.S. economic reports, particularly for jobs, have been upbeat.

"Our base case scenario for the rest of the year is we'll get one additional hike likely toward the end of the year," said Nadia Lovell, U.S. equity strategist at J.P. Morgan Private Bank.

Beyond the Fed, investors were also looking ahead to the next corporate earnings reporting season, which ramps up this week. PepsiCo served up its results early Tuesday. Delta Air Lines, JPMorgan Chase and Wells Fargo are among the big companies due to report their latest quarterly results this week.

"People are waiting to get more clarity with earnings kicking off in earnest with the banks on Thursday and Friday," Lovell said. "Financials and banks usually give the best barometer on the economy itself."

Energy sector companies led the gainers Tuesday. Devon Energy rose 80 cents, or 2.7 percent, to $30.53. Newfield Exploration added 47 cents, or 1.8 percent, to $26.83.


Financials companies took heavy losses. T. Rowe Price Group slid $1.89, or 2.5 percent, to $75.16. Invesco lost 75 cents, or 2.1 percent, to $35.72.

PepsiCo reported better-than-expected quarterly results as higher prices for drinks and snacks boosted both profit and revenue for the beverage and packaged foods company. PepsiCo's sales volumes in North America were soft, however. That appeared to weigh on the company's shares, which slid 53 cents, or 0.5 percent, to $113.74.

Rent-A-Center was among the stocks that made big moves. The company climbed 8.9 percent after its board of directors rejected a takeover offer of $15 a share from Vintage Capital Management. Rent-A-Center rose 99 cents to $12.09.

The parent company of the disappearing-message service Snapchat slumped a day after it closed below its IPO price. Snap slid $1.52, or 8.9 percent, to $15.47.

Energy futures closed broadly higher.

The price of oil rebounded after dipping earlier in the day. Benchmark U.S. crude picked up 64 cents, or 1.4 percent, to settle at $45.04 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, rose 64 cents, or 1.4 percent, to $47.52 a barrel in London.

Wholesale gasoline inched up 2 cents to $1.52 a gallon. Heating oil added 2 cents to $1.48 a gallon. Natural gas rose 12 cents, or 4 percent, to $3.05 per 1,000 cubic feet.

In other commodities trading, gold rose $1.50 to $1,214.70 an ounce. Silver added 12 cents to $15.75 an ounce. Copper inched up 2 cents to $2.67 a pound.

Major markets overseas were mixed Tuesday.


In Europe, Germany's DAX lost 0.1 percent, while France's CAC40 fell 0.5 percent. Britain's FTSE 100 slid 0.5 percent. Earlier in Asia, Japan's Nikkei 225 index gained 0.6 percent on expectations the yen will weaken further against the dollar as the central bank strives to keep long-term bond yields low. Hong Kong's Hang Seng added 1.5 percent, while the Kospi in South Korea climbed 0.6 percent.

The dollar fell to 113.84 from 114.05 yen late Monday. The euro strengthened to $1.1476 from $1.1403.


----------



## bigdog

https://finance.yahoo.com/portfolio/pf_3/view/view_4





https://www.usnews.com/news/busines...cks-solidly-higher-in-early-trading-oil-rises

*Tech Firms Lead Broad Gains for US Stocks; New High for Dow*

By ALEX VEIGA, AP Business Writer

Technology companies led U.S. stocks higher Wednesday in a broad rally that helped nudge the Dow Jones industrial average to a new high.

In remarks before Congress, Federal Reserve Chair Janet Yellen raised the possibility that the central bank would consider slowing the pace of its interest rate increases if inflation remained persistently below its target level.

The move assuaged concerns among some traders worried that the Fed has been moving too quickly to raise interest rates despite a slowdown in inflation and the U.S. economy's sluggish growth of just 1.4 percent in the first quarter.

Yellen's remarks put investors in a buying mood and sent bond yields lower, stoking demand for real estate companies, utilities and other high-dividend paying stocks. Materials companies also posted hefty gains.

"Investors would prefer lower interest rates, particularly if the economy isn't gaining the kind of traction that would warrant a faster rate-hike path," said Quincy Krosby, chief market strategist at Prudential Financial. "This is positive for the markets."

The Standard & Poor's 500 index gained 17.72 points, or 0.7 percent, to 2,443.25. The Dow rose 123.07 points, or 0.6 percent, to 21,532.14, a record high. The average, which had been up more than 171 points, last set a record high on June 19.

The Nasdaq composite added 67.87 points, or 1.1 percent, to 6,261.17. The Russell 2000 index of smaller-company stocks picked up 11.27 points, or 0.8 percent, to 1,424.32.

The stock market looked poised for a big move early on, climbing in premarket trading as investors began to size up Yellen's prepared remarks, which were released ahead of her testimony.

The indexes opened higher across the board and stayed in the green the rest of the day. All 11 sectors in the S&P 500 index notched gains.


In her semiannual testimony before the House Financial Services Committee, Yellen said the central bank expects to keep raising a key interest rate at a gradual pace, and raised the possibility that the pace of rate hikes would be slower than previously expected should inflation remain below its target level of 2 percent annual growth.

Many economists believe the Fed, which has raised rates three times since December, will increase rates one more time this year.

Yellen's remarks suggest the central bank may not need to raise interest rates as much as the market has been expecting, said Rob Haworth, senior investment strategy director at U.S. Bancorp Wealth Management.

"By holding rates lower, that means capital or investment remains somewhat cheaper for companies and the economy should be able to do well with rates perhaps not rising as much as some of us had feared," Haworth said.

Yellen also said she plans to start trimming its massive bond holdings this year.

The yield on the 10-year Treasury note fell to 2.32 percent from 2.37 percent late Tuesday. Yields affect rates on mortgages and other consumer loans.

Technology companies led the market higher. PayPal gained $1.79, or 3.3 percent, to $56.55. Nvidia rose $6.63, or 4.3 percent, to $162.51. Activision Blizzard added $3.04, or 5.2 percent, to $61.02.

Real estate investment trusts and other high-dividend paying stocks benefited from rising bond prices, which pulled bond yields lower. Crown Castle International rose $1.76, or 1.8 percent, to $100.05. American Tower climbed $2.95, or 2.3 percent, to $133.88.


NRG Energy was the biggest gainer in the S&P 500. It soared 29.4 percent after the company said it plans to raise up to $4 billion through asset sales in order to lower its debt. The stock climbed $4.79 to $21.09.

Several airlines also rose after American Airlines Group and United Continental reported solid results for June. American Airlines gained $2.19, or 4.2 percent, to $53.80. United Continental picked up $3.61, or 4.7 percent, to $80.53. Delta Air Lines rose $1.20, or 2.2 percent, to $55.48.

Oil prices wavered early Wednesday, but recovered following a report showing that U.S. crude oil inventories declined sharply last week.

Benchmark U.S. crude rose 45 cents, or 1 percent, to settle at $45.49 per barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, gained 22 cents, or 0.5 percent, to close at $47.74 per barrel in London.

Major stock indexes in Europe also posted solid gains Wednesday.

Germany's DAX up 1.5 percent, while France's CAC 40 gained 1.6 percent. Britain's FTSE 100 rose 1.2 percent.

Markets in Asia finished mostly lower. Japan's Nikkei 225 fell 0.5 percent and South Korea's Kospi lost 0.2 percent. Hong Kong's Hang Seng index rose 0.6 percent.

The dollar fell to 113.25 yen from 113.84 yen late Tuesday. The euro weakened to $1.1416 from $1.1476.

Gold rose $4.40 to $1,219.10 an ounce. Silver added 14 cents to $15.89 an ounce. Copper inched up 1 cent to $2.68 a pound.

In other energy trading, wholesale gasoline was little changed at $1.52 a gallon. Heating oil slipped less than 1 penny to $1.47 a gallon. Natural gas fell 6 cents, or 2 percent, to $2.99 per 1,000 cubic feet.


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## bigdog

https://finance.yahoo.com/portfolio/pf_3/view/view_4 [URL='https://finance.yahoo.com/portfolio/pf_3/view/view_4'][/URL]





https://www.usnews.com/news/busines...ndexes-edge-higher-in-early-trading-oil-rises

*Banks, Tech Lead US Stocks to Modest Gains, New Dow Record *

By ALEX VEIGA, AP Business Writer

Banks and technology companies led U.S. stocks to modest gains Thursday, pushing the Dow Jones industrial average to its second record close in two days.

Big retail chains and other consumer-focused stocks were among the gainers. Energy companies rose as the price of crude oil increased. Phone companies and utilities lagged the market.

"We're continuing to hit record highs," said Erik Davidson, chief investment officer for Wells Fargo Private Bank. "It is a resilient market, impervious to whatever comes out of Washington."

The Standard & Poor's 500 index gained 4.58 points, or 0.2 percent, to 2,447.83. The Dow rose 20.95 points, or 0.1 percent, to 21,553.09. The Nasdaq composite added 13.27 points, or 0.2 percent, to 6,274.44. The Russell 2000 index of smaller-company stocks inched up 1.34 points, or 0.1 percent, to 1,425.66.

The major indexes are all on pace to end the week with gains.

Trading was mostly subdued for much of the day as investors weighed new economic data on applications for unemployment benefits and prices at the wholesale level.

Overall, investors were focused on the coming wave of corporate earnings.

"Markets are really biding their time until we get into tomorrow's more robust earnings releases," said Eric Wiegand, senior portfolio manager for Private Wealth Management at U.S. Bank.

Banks and other financials stocks posted the largest gains. T. Rowe Price Group added $3.61, or 4.8 percent, to $79.19. Goldman Sachs Group rose $3.01, or 1.3 percent, to $230.40. Morgan Stanley picked up 56 cents, or 1.2 percent, to $45.52.

The gains among financial companies came as investors looked ahead to Friday, when several big banks, including Citigroup, JPMorgan Chase and Wells Fargo release their second-quarter results.


"Banks certainly operate a bit in their own orbit, but at the same time financials globally are a proxy for the overall economy. Investors are definitely looking to see how those come out," Davidson said.

Traders will be focused on companies' latest quarterly earnings for the next few weeks. The market expects earnings per share growth of about 7 percent from companies in the S&P 500.

Delta Air Lines released its earnings Thursday. Its shares slid 1.8 percent after the company reported a smaller profit and less revenue than analysts expected. The stock shed 98 cents to $54.50.

Traders also bid up shares in technology sector companies. NetApp rose $1.21, or 3 percent, to $41.38. PayPal gained $1.35, or 2.4 percent, to $57.90.

Several large retailers had a good day.

Gap notched the biggest gain among S&P 500 companies. The stock climbed $1.21, or 5.6 percent, to $22.78. Macy's rose 87 cents, or 4.1 percent, to $22.10.

Investors cheered Target's latest quarterly outlook. The retailer raised its second-quarter forecasts and said sales and customer traffic increased. The stock gained $2.44, or 4.8 percent, to $53.31.

"That's been a bit of fresh air in a very, very challenged sector," Davidson said.

NRG Energy climbed 5.3 percent a day after the company disclosed plans to raise up to $4 billion through asset sales in order to lower its debt. The stock picked up $1.11 to $22.20.

Federal Reserve Chair Janet Yellen's second day testifying before Congress didn't generate any major market-moving news.

Yellen, appearing before a Senate committee, spoke about the dual risks of inflation: prices rising too slowly and prices accelerating too quickly. Her comments appeared to be an effort to modify the impact of her comments before a House committee on Wednesday.


The House remarks were seen as signaling that the Fed might slow the pace of rate hikes if inflation does keep falling below the Fed's 2 percent target. Those remarks assuaged concerns among some traders that the Fed was raising interest rates too quickly in the face of stalling inflation and sluggish U.S. economic growth, setting off a broad market rally.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.35 percent from 2.33 percent late Wednesday.

Benchmark U.S. crude gained 59 cents, or 1.3 percent, to settle at $46.08 per barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, added 68 cents, or 1.4 percent, to close at $48.42 per barrel in London.

In other energy futures trading, wholesale gasoline inched up less than 1 cent to $1.53 a gallon. Heating oil rose 2 cents to $1.49 a gallon. Natural gas fell 2 cents to $2.96 per 1,000 cubic feet.

Gold fell $1.80 to $1,217.30 an ounce. Silver slid 20 cents to $15.69 an ounce. Copper lost 2 cents to $2.66 a pound.

The dollar slipped to 113.23 yen from 113.25 yen late Wednesday. The euro weakened to $1.1406 from $1.1415.

Major stock indexes in Europe closed mostly higher.

Germany's DAX rose 0.1 percent, while the CAC 40 in France gained 0.3 percent. The FTSE 100 index of leading British shares was flat.

In Asia, Hong Kong's Hang Seng index jumped 1.2 percent after a report showed that Chinese trade growth accelerated for a second month in June. Japan's Nikkei 225 stock index was flat. South Korea's Kospi gained 0.7 percent.


----------



## bigdog

https://finance.yahoo.com/portfolio/pf_3/view/view_4






https://www.usnews.com/news/busines...-edge-higher-in-early-trading-crude-oil-gains

*Modest Gains Push US Stocks Indexes to Record Highs *

By ALEX VEIGA, AP Business Writer

Gains by big technology and health care companies pushed U.S. stocks modestly higher Friday, lifting several major indexes to new highs.

The Standard & Poor's 500 index, Dow Jones industrial average and Russell 2000 index of smaller-company stocks each set records as the market posted its third straight day of gains.

Energy companies helped lift the market as crude oil prices rose. High-dividend stocks like real estate companies and utilities also posted big gains following a drop in bond yields. The lower yields and a weak forecast from JPMorgan Chase weighed on banks. Financial stocks were the only sector in the S&P 500 to end lower.

Investors brushed off a report showing U.S. retail sales declined in June and drew encouragement from data indicating industrial production rebounded last month. Traders also welcomed a report showing inflation at the consumer level was flat in June, which suggests that the Federal Reserve may have more reason to delay another interest rate increase.

"The low inflation data will put the Fed more in a wait-and-see mode to really determine if the low inflationary environment is really transitory," said Lindsey Bell, investment strategist at CFRA Research.

The S&P 500 index gained 11.44 points, or 0.5 percent, to 2,459.27. The Dow rose 84.65 points, or 0.4 percent, to 21,637.74. The average has hit a record high three days in a row.

The Nasdaq composite added 38.03 points, or 0.6 percent, to 6,312.47. The Russell 2000 index picked up 3.16 points, or 0.2 percent, to 1,428.82.

The indexes all ended the week with gains are on pace to finish higher this month.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.33 percent from 2.35 percent late Thursday.


Investors had mix of company earnings and economic data to consider Friday.

The Commerce Department said retail sales fell 0.2 percent in June as Americans curtailed spending at restaurants, department stores and gasoline stations. That followed a 0.1 percent drop in May. In addition, the Federal Reserve said U.S. factory output rebounded in June as manufacturers churned out more cars, appliances and furniture. Overall industrial production rose 0.4 percent and is up 2 percent over the past year.

Meanwhile, the Labor Department said U.S. consumer prices were flat in June, the latest evidence that inflation remains muted. All told, inflation has climbed just 1.6 percent from a year ago.

The market rallied on Wednesday after Federal Reserve Chair Janet Yellen hinted that the Fed could slow its rate hike plans if inflation continues to run below the Fed's 2 percent target. As such, the June consumer prices data suggests that "the Fed is not going to get too aggressive on rate hikes," Bell said.

Several big banks reported their second-quarter earnings on Friday. Among them were JPMorgan Chase, Citigroup and Wells Fargo, each of which posted results that beat Wall Street's expectations. But it wasn't all good news.

JPMorgan, the nation's largest bank by assets, said it expects weaker net interest income. Falling bond yields also weighed on the sector. When bond yields decline, it forces interest rates on loans lower, which makes it harder for banks to make money from lending.

JPMorgan fell 85 cents, or 0.9 percent, to $92.25, while Citigroup slid 30 cents to $66.72. Wells Fargo lost 61 cents, or 1.1 percent, to $54.99.

"It's an encouraging sign that the market is rotating outside of financials, but (investors) didn't use it as a catalyst to take down the whole market," said Victor Jones, trading director at TD Ameritrade.


Technology and health care companies were among the big gainers. NetApp led all S&P 500 companies, climbing $2.26, or 5.5 percent, to $43.64. Microsoft rose $1.01, or 1.1 percent, to $72.78. Zimmer Biomet Holdings gained $3.51, or 2.7 percent, to $132.49.

High-dividend companies like real estate investment trusts moved higher as bond yields decreased. GGP added 66 cents, or 2.9 percent, to $23.59. Iron Mountain gained 84 cents, or 2.5 percent, to $34.78.

Despite the June decline in retail sales, investors bid up shares in several retail chains after some analysts upgraded the sector a day after Target raised its second-quarter forecasts and said sales and customer traffic increased. Ulta Beauty gained $4.34, or 1.7 percent, to $261.74, while Gap rose 50 cents, or 2.2 percent, to $23.28.

Energy futures closed higher. Benchmark U.S. crude rose 46 cents, or 1 percent, to settle at $46.54 per barrel on New York Mercantile Exchange. Brent crude, used to price international oils, gained 49 cents, or 1 percent, to $48.91 per barrel in London.

In other energy trading, wholesale gasoline picked up 3 cents to $1.56 a gallon. Heating oil rose 2 cents to $1.52 a gallon. Natural gas gained 2 cents to $2.98 per 1,000 cubic feet.

The increase in oil and gas prices helped lift energy stocks. Chesapeake Energy gained 9 cents, or 1.9 percent, to $4.87.

The dollar fell sharply, sliding to 112.56 yen from 113.23 yen late Thursday. The ICE U.S. Dollar Index, which compares the dollar against a basket of major currencies, declined to its lowest level since September. The U.S. currency also weakened against the euro, which rose to $1.1467 from $1.1406.


Gold rose $10.20, or 0.8 percent, to $1,227.50 an ounce. Silver gained 24 cents, or 1.5 percent, to $15.93 an ounce. Copper added 3 cents to $2.69 a pound.

Major stock indexes in Europe finished mostly lower Friday. Germany's DAX fell 0.1 percent, while the CAC 40 in France was flat. The FTSE 100 index of leading British shares slid 0.5 percent.

Earlier in Asia, Japan's Nikkei 225 added 0.1 percent and South Korea's Kospi rose 0.2 percent. Hong Kong's Hang Seng index inched up 0.2 percent.

0493


----------



## bigdog

https://www.usnews.com/news/busines...tocks-pull-us-indexes-lower-as-gop-bill-fails

*Insurers Slump as Health Care Bill Fails; Tech Stocks Rise*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks were divided Tuesday as health insurers declined after the failure of the latest Republican health care bill while a big jump in subscribers for Netflix sent technology and consumer-focused companies higher.

Stocks spent most of the day lower after the health care push stalled and several financial firms, including Goldman Sachs, reported underwhelming second-quarter results. Energy and industrial companies also slipped.

While stocks flirted with larger losses and most of the companies listed on the New York Stock Exchange fell, the gains for tech and consumer stocks were enough to send the Standard & Poor's 500 index and Nasdaq composite to new highs.

Wall Street did not have a big reaction to the Republican health care defeat, as it did when a related bill failed in March. After four months of struggles over health care, investors don't expect as much from Congressional Republicans and President Donald Trump on other issues.

"Tax changes aren't likely to take place any time soon and are likely to be smaller than they hoped," said Kate Warne, an investment strategist for Edward Jones.

The S&P 500 rose 1.47 points, or 0.1 percent, to 2,460.61, just above the record it set Friday. The Dow Jones industrial average fell 54.99 points, or 0.3 percent, to 21,574.73. Goldman Sachs was responsible for almost all of that loss. The Nasdaq composite climbed 29.87 points, or 0.5 percent, to 6,344.31 as tech companies like Facebook and Alphabet, the parent of Google, rose. After a plunge in June, the Nasdaq has surged over the last two weeks.

The Russell 2000 index of smaller-company stocks sank 3.99 points, or 0.3 percent, to 1,427.61. That index closed at an all-time high Monday.

Several major banks reported strong second-quarter results, but that wasn't enough to get investors excited. Bank of America and Goldman Sachs both said their trading businesses struggled, as the market has been calm for months. Banks did very well in the first quarter, and Warne said investors may have been caught off guard that the second quarter doesn't look as good for them.

"When they're not benefiting as much as expected from higher interest rates, I think that makes investors more cautious about what results will look like going forward," Warne said.

Goldman lost $5.95, or 2.6 percent, to $223.31 and Comerica fell $1.47, or 2 percent, to $73.05. Bank of America declined 12 cents to $23.90.

Netflix jumped after the company said it added 5.2 million subscribers over the last three months, and for the first time, it has more subscribers outside the U.S. than in it. The second quarter is usually a slow period for Netflix, so investors were pleased to see the big gain. Netflix gained $21.90, or 13.5 percent, to $183.60. Among other consumer companies, Amazon added $14.34, or 1.4 percent, to $1,024.38.

Facebook gained $3.13, or 2 percent, to $162.86 and Alphabet picked up $10.99, or 1.1 percent, to $986.85.

The Senate Republican health care bill was defeated Monday night when two more GOP senators announced they opposed it, which prevented the proposal from coming to a vote. Republican leaders shifted their efforts to repealing the 2010 Affordable Care Act without creating a replacement law, but that effort was quickly shut down as well.

When Republicans in Congress started trying to repeal and replace the Obama-era health care law, investors saw it as a test of their ability to work together. If Republicans succeeded, there was a good chance they would be able to pass tax cuts and potentially an infrastructure spending bill as well. But as the work dragged on for four months, that seemed far less likely.

Health insurers declined. Aetna fell $1.69, or 1.1 percent, to $153.31 and Anthem retreated $2.64, or 1.4 percent, to $189.45. UnitedHealth, the largest company in the industry, inched higher after it reported strong second-quarter results and raised its annual outlook. It gained 59 cents to $186.85.

The dollar slipped again. It has steadily lost ground for most of this year and the ICE US dollar index is now at its lowest level since August. The dollar slid to 111.98 yen from 112.66 yen. The euro rose to $1.1563 from $1.1480. The euro hasn't been this strong compared to the dollar since early 2015.

Bond prices rose. The yield on the 10-year Treasury note slid to 2.26 percent from 2.31 percent. That also hurt bank stocks.

Benchmark U.S. crude added 38 cents to $46.40 a barrel in New York. Brent crude, the international standard, rose 42 cents to $48.84 a barrel in London.

Wholesale gasoline rose 2 cents to $1.58 a gallon. Heating oil added 1 cent to $1.51 a gallon. Natural gas added 7 cents to $3.09 per 1,000 cubic feet.

Gold gained $8.20 to $1,241.90 an ounce. Silver rose 17 cents, or 1 percent, to $16.27 an ounce. Copper added 1 cent to $2.73 a pound.

The DAX in Germany dropped 1.2 percent and France's CAC 40 fell 1.1 percent. The British FTSE 100 index slipped 0.2 percent. Japan's benchmark Nikkei 225 lost 0.6 percent as the yen gained against the dollar. The Kospi in South Korea was flat. Hong Kong's Hang Seng climbed 0.2 percent.


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## bigdog

https://finance.yahoo.com/portfolio/pf_3/view/view_4






http://gazette.com/technology-and-health-care-lift-stocks-to-record-highs/article/feed/477634

* Technology and health care lift stocks to record highs *
By: MARLEY JAY, Associated Press

NEW YORK (AP) — U.S. stocks continued to climb Wednesday, led by technology, health care and energy companies. Media companies also rose as stock indexes set record highs.

The technology part of the Standard & Poor's 500 index finally broke the record it set in March 2000, before the dot-com bubble burst. Energy companies rose with the price of oil as U.S. energy stockpiles continued to shrink. Cable network companies Scripps Networks and Discovery Communications jumped after the Wall Street Journal reported that they are in talks to combine.

Stocks have been setting records for most of this year, and over the last few months they've gotten a boost from a recovery in corporate profits.

"Earnings are coming in better than expected so far," said Jon Adams, senior investment strategist for BMO Global Asset Management. "Technology in particular has come in very strong."

The Standard & Poor's 500 index rose 13.22 points, or 0.5 percent, to 2,473.83. Despite a sharp drop from IBM, the Dow Jones industrial average added 66.02 points, or 0.3 percent, to 21,640.75. The Nasdaq composite gained 40.74 points, or 0.6 percent, to 6,385.04. The Russell 2000 index of smaller-company stocks jumped 14.16 points, or 1 percent, to 1,441.77. All four indexes closed at record highs.

The S&P 500 technology index finally surpassed its peak from late March 2000, at the height of the dot-com boom. That index came close to an all-time high in early June, but after that technology companies went into a swoon that lasted about a month. Their recovery over the last two weeks has helped the Nasdaq composite pull off a rally as well.

Apple picked up 94 cents to $151.02 and Facebook advanced $1.28 to $164.14 while Cisco Systems rose 39 cents, or 1.2 percent, to $31.90.

Vertex Pharmaceuticals climbed after it reported strong results from studies of drug regimens that are intended to help hard-to-treat forms of cystic fibrosis. Vertex soared $27.53, or 20.8 percent, to $159.69. That followed a 2.3 percent gain Tuesday after regulators approved a breast cancer treatment the company developed. Vertex's stock has more than doubled this year and it is trading at all-time highs.

Other health care companies also traded higher, including health insurers. Cigna picked up $2.21, or 1.3 percent, to $174.31 and UnitedHealth added $2.34, or 1.3 percent, to $189.19. Those companies mostly fell Tuesday after the Republican-backed health care bill failed in the Senate.

Oil prices rose after the U.S. government said fuel stockpiles shrank last week. Benchmark U.S. crude rose 72 cents, or 1.6 percent, to $47.12 a barrel in New York. Brent crude, the standard for international oil prices, gained 86 cents, or 1.7 percent, to $49.70 per barrel in London. Oil prices have mostly stayed between $40 and $55 a barrel since mid-February of 2016 after they plunged from more than $100 a barrel in mid-2014.

Scripps Networks and Discovery Communications jumped after the Wall Street Journal reported that the two cable network companies are in talks to combine. Scripps, which owns HGTV, Food Network and Travel Channel, climbed $9.87, or 14.7 percent, to $76.89. Discovery Communications, which runs TLC and Animal Planet, gained $1.13, or 4.3 percent, to $27.18.

Homebuilders jumped after the Commerce Department said construction of new homes rose 8 percent in June, breaking a three-month losing streak. Home construction is up slightly this year, but not enough to make up for a decline in in older homes being listed for sale.

Spice maker McCormick agreed to buy RB Foods, the food division of Reckitt Benckiser, for $4.2 billion. That will give the company brands including French's mustard and Frank's RedHot. The price was higher than some analysts expected, and McCormick lost $5.07, or 5.2 percent, to $92.07.

Other food companies traded higher. Campbell Soup rose $1.58, or 3.1 percent, to $52.57 and Chef Boyardee maker Conagra Brands added 53 cents, or 1.6 percent, to $33.85.

IBM posted weaker sales than analysts expected, and its stock dropped $6.47, or 4.2 percent, to $147.53.

Morgan Stanley climbed after the investment bank said its trading businesses did well during the second quarter, a contrast to rival banks which reported poor trading results as market conditions were quiet last quarter. Morgan Stanley rose $1.48, or 3.3 percent, to $46.62.

In other energy trading, wholesale gasoline rose 4 cents to $1.62 a gallon. Heating oil gained 4 cents to $1.55 a gallon. Natural gas lost 2 cents to $3.07 per 1,000 cubic feet.

Gold inched up 10 cents to $1,242 an ounce. Silver rose 3 cents to $16.30 an ounce. Copper lost 2 cents to $2.71 a pound.

Bond prices inched lower. The yield on the 10-year Treasury note rose to 2.27 percent from 2.26 percent.

The dollar dipped to 111.78 yen from 111.98 yen. The euro fell to $1.1517 from $1.1563.

The CAC 40 of France rose 0.8 percent and the British FTSE 100 jumped 0.6 percent. Germany's DAX added 0.2 percent. Japan's Nikkei 225 stock index edged up 0.1 percent and the Hang Seng in Hong Kong climbed 0.6 percent. The South Korean Kospi added 0.2 percent


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## bigdog

https://finance.yahoo.com/portfolio/pf_3/view/view_4






https://www.usnews.com/news/busines...-waver-as-earnings-and-central-banks-dominate

* US Stocks Waver as Earnings and Central Banks Dominate *
*US stocks wobble between little gains and losses and finish about where they started after Europe's central bank leaves its economic stimulus policies unchanged.*
July 20, 2017, at 5:04 p.m.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stock indexes essentially hit the snooze bar Thursday as investors were relieved the European Central Bank didn't announce any changes to its stimulus policies.

Europe's central bank maintained its current policies and ECB President Mario Draghi said the bank hasn't even set a date for considering changes. Investors were startled a month ago when he spoke about scaling back the bank's billions of dollars in monthly bond purchases.

On an up-and-down day of trading, second-quarter results moved other stocks: health care companies including Abbott Laboratories climbed and paint, trucking and railroad companies fell.

Sears announced an online appliance sales pact with Amazon.com, and appliance makers and home improvement stores dropped. But overall the market hardly budged. While stocks have been setting record highs for most of 2017, including Wednesday, the market is having its quietest year in decades.

"There's the belief that the Fed and the ECB are backstopping markets" and would step in if something bad happened, said Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management. "If you throw a bunch of money at a problem, typically risk moves lower and people feel more confidence."

The Standard & Poor's 500 index slipped at the finish and lost 0.38 points to 2,473.45. The Dow Jones industrial average fell 28.97 points, or 0.1 percent, to 21,611.78. The Nasdaq composite rose 4.96 points, or 0.1 percent, to a record high of 6,390. The Russell 2000 index of smaller companies gained 0.58 points to 1,442.35, also a record.

The S&P 500 has only had four moves of 1 percent or greater this year. In a typical year that happens more than 50 times.


Abbott Laboratories, which makes infant formula, drugs and medical devices, gained $1.42, or 2.9 percent, to $50.85 after reporting results that were better than expected. Health care products giant Johnson & Johnson rose $1.36, or 1 percent, to $136.57 and drugmaker AbbVie, which split from Abbott in 2013, added $1.24, or 1.7 percent, to $74.01.

Paint and coatings maker PPG Industries fell after it reported weaker-than-expected sales. PPG said higher raw materials costs hurt its results, and so did unfavorable foreign currency exchange rates. Its shares gave up $6.88, or 6.1 percent, to $106.72.

Competitor Sherwin-Williams had a weak second quarter. It also pointed to rising costs as well as lower exterior paint sales. The stock lost $8.94, or 2.5 percent, to $350.78.

Sears said it will begin selling Kenmore appliances on Amazon.com, including smart appliances that can be synced with Amazon's voice assistant Alexa. The owner of the Sears and Kmart chains has closed large numbers of stores in recent years and said in March that it might not be able to stay in business. Its stock jumped 92 cents, or 10.6 percent, to $9.60. Even with Thursday's climb, Sears stock is down 36 percent over the last year.

Home Depot plunged $6.27, or 4.1 percent, to $147.03 as analysts wondered if its appliance sales will be affected. That was Home Depot's biggest loss in a year and a half, and it wiped 43 points off the Dow average. Lowe's fell $4.27, or 5.6 percent, to $72.56 and appliance maker Whirlpool dropped $8.60, or 4.3 percent, to $189.74.

Amazon edged up $1.83 to $1,028.70.

The European Central Bank didn't make any big moves, and ECB President Mario Draghi stressed that it has not set a date for considering any changes to its stimulus policies. Last month Draghi discussed gradual reductions in stimulus as Europe's economy gets stronger, and investors pushed the euro higher and bought long-term bonds. That kind of response could make the ECB's current stimulus less effective, so it wants to moderate market reactions. European government bond yields dropped Thursday.


Utility company Avista surged after it accepted an offer from Hydro One, the largest power transmitter and distributor in Ontario. It will buy Avista for $5.3 billion, or $53 a share, and Avista stock climbed $8.95, or 20.7 percent, to $52.28.

Benchmark U.S. crude lost 33 cents to $46.79 a barrel in New York and Brent crude, the standard for international oil prices, sank 40 cents to $49.30 a barrel in London.

Wholesale gasoline dipped 1 cent to $1.61 a gallon. Heating oil also fell 1 cent to $1.54 a gallon. Natural gas fell 2 cents to $3.04 per 1,000 cubic feet.

Bond prices moved higher. The yield on the 10-year Treasury note fell to 2.26 percent from 2.27 percent. High-dividend stocks like utilities climbed, as reduced bond yields make those stocks more appealing to investors who want income.

Gold added $3.50 to $1,245.50 an ounce. Silver rose 5 cents to $16.35 an ounce. Copper gained 1 cent to $2.72 a pound.

The dollar edged up to 111.99 yen from 111.78 yen. The euro gained to $1.1626 from $1.1517.

Britain's FTSE 100 index advanced 0.8 percent while the French CAC 40 lost 0.3 percent. The DAX in Germany was little changed. The Nikkei 225 of Japan advanced 0.6 percent and South Korea's Kospi gained 0.5 percent. The Hang Seng in Hong Kong rose 0.3 percent.


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## bigdog

https://finance.yahoo.com/portfolio/pf_3/view/view_4





http://www.newsobserver.com/news/business/article162856293.html

*US stocks dip with energy prices; European stocks sink*
By MARLEY JAY AP Markets Writer
NEW YORK

U.S. stocks finished barely lower Friday as energy companies fell with oil prices and a 10-day rally for technology companies came to an end. But Wall Street mostly avoided the sharp losses that hit European stocks.

The price of U.S. crude oil fell 2.5 percent and pulled energy stocks lower. Technology companies slipped, ending their longest winning streak in more than two years.

Investors bought government bonds in the U.S. and Europe, which sent prices higher and yields lower. With yields down, investors who wanted income bought shares in companies that pay big dividends, such as utilities and household goods makers.

European stocks took sharp losses after Reuters reported that the European Central Bank will consider paring back its stimulus programs in late October. Indexes in France, Germany and Italy all fell, and so did the blue chip Euro Stoxx 50 index.

"Europe is the economy that makes people the most nervous," said JJ Kinahan, chief market strategist at TD Ameritrade. "It's one that is still being treated with caution."


The Standard & Poor's 500 index shipped 0.91 of a point to 2,472.54. The Dow Jones industrial average dipped 31.71 points, or 0.1 percent, to 21,580.07. Earlier it shed as many as 108 points. The Nasdaq composite lost 2.25 points to 6,387.75. The Russell 2000 index of smaller-company stocks sank 6.52 points, or 0.5 percent, to 1,435.84. Still, all four indexes remain near record highs.

General Electric skidded after it disappointed investors by saying it expects to reach only the low end of its annual profit forecast range. GE said its power unit struggled in the second quarter and low oil prices are also hurting its business.

The stock fell 78 cents, or 2.9 percent, to $25.91. It's down 18 percent this year. Also falling was oilfield services company Baker Hughes, which is combined with GE's oil and gas unit this month and is now mostly owned by GE. It shed 85 cents, or 2.4 percent, to $34.12.

Baker Hughes was one of a horde of energy companies that fell with oil prices. Benchmark U.S. crude lost $1.15 to $45.77 a barrel in New York. Brent crude, the standard for international oil prices, shed $1.24, or 2.5 percent, to $48.06 a barrel in London.

Over the last few weeks investors have focused what the European Central Bank will do as the European economy continues to improve. Kinahan, of TD Ameritrade, added that the central bank also hasn't done much to address the way the euro has risen over that time.

"The ECB didn't take an aggressive stand on the currency move that's already happened," he said. He added that has left some investors thinking the euro will get even stronger, which would make European goods more expensive in other markets and affect the earnings and sales of companies based in the EU.

On Friday the euro rose to $1.1677 from $1.1626. It hasn't been this strong compared to the dollar since the beginning of 2015. The German DAX lost 1.7 percent and France's CAC 40 shed 1.6 percent. The FTSE 100 in Britain shed 0.5 percent.

European bond prices jumped and yields tumbled. Investors also bought U.S. government bonds, which sent prices higher. The yield on the 10-year Treasury note fell to 2.24 percent from 2.26 percent.

Software giant Microsoft's fourth-quarter profit and sales surpassed Wall Street estimates as the company posted another round of strong results from its cloud computing business. However, its stock dipped 43 cents to $73.79.

Also falling was chipmaker Texas Instruments, which lost 99 cents, or 1.2 percent, to $81.70. E-commerce company eBay fell 57 cents, or 1.2 percent, to $36.61. Payment processor Visa added $1.49, or 1.5 percent, to $99.60 after its latest report showed its purchase of Visa Europe a year ago is strengthening its business.

Still, a 10-day run for the Nasdaq and technology companies came to an end. The S&P 500 technology index climbed more than 6 percent over that time and reached record highs. The rally was assisted by the weakening dollar, which helps sales and earnings overseas. Investors also bet that technology companies would have another round of strong quarterly earnings.

Elsewhere, financial companies did relatively well after some solid quarterly reports. Credit card issuer Capital One Financial leaped $6.93, or 8.6 percent, to $87.94 after it beat Wall Street estimates in the second quarter. E-Trade Financial gained $2.03, or 5.1 percent, to $41.63 and Moody's added $5.40, or 4.2 percent, to $132.57.

In other energy trading, wholesale gasoline fell 4 cents to $1.56 a gallon. Heating oil lost 3 cents to $1.52 a gallon. Natural gas slid 7 cents to $2.97 per 1,000 cubic feet.

Gold added $9.40 to $1,254.90 an ounce. Silver rose 11 cents to $16.46 an ounce. Copper picked up 1 cent to $2.72 a pound.

The dollar slid to 111.04 yen from 111.99 yen.

In Asia, the Nikkei 225 of Japan slipped 0.2 percent and South Korea's Kospi rose 0.3 percent. Hong Kong's Hang Seng inched down less than 0.1 percent.

0751


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## bigdog

https://finance.yahoo.com/portfolio/pf_3/view/view_4





https://finance.yahoo.com/m/2c4ef98...59503e1f/ss_us-stock-indexes-mixed-ahead.html

*US stock indexes mixed ahead of busy earnings week*




STAN CHOE
Associated Press

NEW YORK (AP) — Stocks mostly fell on Monday, and broad-market indexes inched modestly backward at the start of a busy week of corporate earnings reports and a meeting of the Federal Reserve. Technology stocks, though, added to their big gains for the year and helped push the Nasdaq composite to another record.

The Standard & Poor's 500 lost 2.63 points, or 0.1 percent, to 2,469.91 after nine of the 11 sectors that make up the index logged losses. It marks the first three-day losing streak for the index in a month, though it's still within a fraction of a percent of its record.

The Dow Jones industrial average fell 66.90 points, or 0.3 percent, to 21,513.17. The Nasdaq composite rose 23.05 points, or 0.4 percent, to 6,410.81.

The Nasdaq is up 19.1 percent this year, nearly double the rise for broader-market indexes as investors have massed into technology stocks in their search for strong growth as the global economy remains sluggish.

Amazon.com and several other big-name tech companies are set to release their second-quarter results in coming days, part of a busy week where more than a third of S&P 500 companies are due to report.

Expectations are high: Analysts forecast tech stocks in the S&P 500 will report 16 percent growth in earnings per share, according to S&P Global Market Intelligence. That's up from a forecast of 10.9 percent growth a month ago. And companies will need to follow through on the expectations to justify the big moves their stock prices have already made.

"The group did have a strong start to the year, and there are some questions about how long tech can continue to rally," said Ann Miletti, senior portfolio manager at Wells Fargo Asset Management. "Overall, what we're believing to be true is that second-quarter results are going to come in, in general, better than expected. But the second-half outlook is the most important thing, and we'll see."

The International Monetary Fund on Monday held its forecast for global economic growth this year steady at 3.5 percent, but that masks some movements underneath. It raised its forecast for economic growth in Europe, Japan and China. But it also cut its outlook for the United States on the assumption that politicians in Washington won't be as helpful for growth as earlier expected.

The Federal Reserve's policymaking committee begins a two-day meeting on Tuesday, following its decision last month to raise short-term interest rates for the third time since December. The central bank also announced plans to start gradually paring its bond holdings later this year, a move that could cause rates to rise. Most investors expect the Fed to hold rates steady at this week's meeting and possibly raise them one more time this year.

Investors in recent weeks have questioned whether the European Central Bank will begin to tap the brakes on its own stimulus for the economy.

Monday's steepest loss in the S&P 500 came from Hasbro, which sank $10.95, or 9.4 percent, to $105.00 despite reporting stronger-than-expected earnings for the latest quarter. The stock had already been up nearly 50 percent for the year before the earnings release, and analysts said some investors may have been nervous after Hasbro cited some softness in its Brazil and U.K. markets.

Shares were also weak across the sporting goods retail industry after Hibbett Sports warned that its sales have been under even more pressure than analysts expected for the three months through July. Retailers of all types have been battling against increased competition from online rivals, some better than others.

Hibbett fell $6.60, or 33.5 percent, to $13.10. Foot Locker lost $2.16, or 4.6 percent, to $45.05, and Dick's Sporting Goods dropped $2.04, or 5.5 percent, to $35.12.

On the opposite end was WebMD Health, which soared $10.91, or 19.8 percent, to $66.10 after a portfolio company of investment-firm KKR said it will buy the health information website for $66.50 per share in cash.

In overseas markets, Japan's Nikkei 225 lost 0.6 percent, and South Korea's Kospi inched up 0.1 percent. Hong Kong's Hang Seng added 0.5 percent, and India's Sensex added 0.7 percent.

In Europe, France's CAC 40 rose 0.2 percent, Germany's DAX fell 0.3 percent and the FTSE 100 in London dropped 1 percent.

In the commodities market, benchmark U.S. crude rose 57 cents, or 1.2 percent, to $46.34 per barrel. Brent crude, the standard for international oil prices, rose 54 cents, or 1.1 percent, to $48.60 a barrel.

Natural gas fell 7 cents to $2.90 per 1,000 cubic feet. Wholesale gasoline slipped a penny to $1.56 a gallon and heating oil was nearly flat at $1.52 a gallon.

Gold fell 60 cents to settle at $1,254.30 per ounce, silver slipped 1 cent to $16.44 per ounce and copper added a penny to $2.74 per pound.

The yield on the 10-year Treasury note ticked up to 2.25 percent from 2.24 percent late Friday, and the two-year yield rose to 1.36 percent from 1.34 percent.

The euro dipped to $1.1645 from $1.1677 late Friday, the dollar ticked up to 111.11 Japanese yen from 111.04 yen and the British pound rose to $1.3036 from $1.3007.


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## bigdog

https://finance.yahoo.com/portfolio/pf_3/view/view_4






https://finance.yahoo.com/news/us-stocks-rise-records-despite-141912533.html

*US stocks back to records as corporate profits keep rising*




Stan Choe, AP Business Writer
Associated Press

NEW YORK (AP) -- U.S. stock indexes returned to records Tuesday as corporate profits continue to come in better than analysts expected.

McDonald's and Caterpillar were among the big companies that reported healthier-than-forecast results. Sharp moves higher in prices for oil, metals and other commodities also helped lift companies that produce energy and raw materials. That more than offset losses for health care companies and stocks that pay relatively big dividends, which were hurt by a rise in Treasury yields.

The Standard & Poor's 500 rose 7.17 points, or 0.3 percent, to an all-time high of 2,477.08. It was the first gain for the index in four days.

The Dow Jones industrial average rose 100.26, or 0.5 percent, to 21,613.43. The Nasdaq composite added 1.37 points, or less than 0.1 percent, to 6,412.17, and the Russell 2000 index of small-cap stocks gained 12.33, or 0.9 percent, to 1,450.39. Both the Nasdaq and Russell set records.

Leading the way for the market were energy stocks, which benefited from a second strong day for the price of oil. Benchmark U.S. crude rose $1.55, or 3.3 percent, to settle at $47.89 per barrel. Brent crude, the international standard, gained $1.60, or 3.3 percent, to $50.20 a barrel.

That helped energy stocks in the S&P 500 climb 1.3 percent, tied for the biggest gain among the 11 sectors that make up the index. Devon Energy rose $1.24, or 3.9 percent, to $32.98, for example, while Marathon Oil gained 46 cents, or 3.9 percent, to $12.34.

Financial stocks were also strong after a pickup in interest rates raised expectations that banks could charge more for loans and pocket bigger profits.

The yield on the 10-year Treasury note climbed to 2.32 percent from 2.26 percent late Monday. The two-year yield climbed to 1.38 percent from 1.36 percent, and the 30-year yield rose to 2.91 percent from 2.83 percent.

The rise in yields came as the Federal Reserve began a two-day policy meeting on interest rates. The central bank has already raised rates three times since December, but few investors expect it to make another move when it announces its decision Wednesday. Most expect the next rate increase to come later this year.

It may not have shown on Tuesday, but many investors are bracing for markets to get shakier as the Federal Reserve moves further away record-low interest rates and big stimulus for the economy. Contrarians are also concerned about how much the stock market has climbed, and how smooth the ride has been, as expectations have built up this year for corporate profits will keep piling higher.

"There's a lot of hope built into the market at current levels," said Rob McIver, portfolio manager at the $6.3 billion Jensen Quality Growth fund. "We're cautioning investors to be cautious and conservative."

Technology stocks have been the year's biggest stars so far, as investors have been hungry for anything with the potential to grow quickly in a slow-growing global economy. But tech stocks in the S&P 500 dipped 0.2 percent Tuesday after several reported results that fell short of expectations.

Seagate Technology sank $6.56, or 16.5 percent, to $33.20 after the maker of hard drives and other electronic data storage reported weaker revenue and earnings than analysts had forecast, for example.

On the opposite side was Caterpillar, which jumped $6.36, or 5.9 percent, to $114.54 after reporting better results for the latest quarter than analysts expected. It also raised its forecast for revenue and profit for the full year, citing increased demand across many of its markets.

McDonald's rose $7.22, or 4.8 percent, to $159.07 after its revenue and earnings for the latest quarter topped Wall Street's forecast. The burger chain has been drawing in customers with a new line of premium of burgers and $1 sodas.

In the commodities market, natural gas rose 5 cents to $2.94 per 1,000 cubic feet, heating oil gained 5 cents to $1.57 per gallon and wholesale gasoline climbed 4 cents to $1.60 per gallon.

Metals prices also climbed, which helped to lift shares of mining companies and other raw-material producers. Copper jumped 11 cents, or 4 percent, to $2.85 per pound, while silver rose 10 cents to $16.54 per ounce and gold slipped $2.20 to $1,252.10 an ounce.

The euro rose to $1.1652 from $1.1645 late Monday. The dollar rose to 111.89 Japanese yen from 111.11 yen, and the British pound inched up to $1.3037 from $1.3036.

France's CAC 40 climbed 0.7 percent, Germany's DAX gained 0.5 percent and the FTSE 100 in London rose 0.8 percent.

Japan's Nikkei 225 index slipped 0.1 percent, South Korea's Kospi index dipped 0.5 percent and the Han Seng in Hong Kong was virtually flat.


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## bigdog

https://finance.yahoo.com/portfolio/pf_3/view/view_4






https://finance.yahoo.com/news/stoc...e-investors-await-fed-141203079--finance.html

*US stocks edge higher; bond yields fall following Fed*




Stan Choe, AP Business Writer
Associated Press

NEW YORK (AP) -- U.S. stock indexes inched further into record territory Wednesday after AT&T, Boeing and others joined the parade of big companies reporting stronger profits than analysts expected. Stocks that pay big dividends were particularly strong after the Federal Reserve took a pause in its slow-moving campaign to lift interest rates, as Treasury yields sank lower.

The Standard & Poor's 500 index edged up by 0.70 points, or less than 0.1 percent, to 2,477.83 and added a whisper to its record high set a day earlier.

The Dow Jones industrial average gained 97.58 points, or 0.5 percent, to 21,711.01, and the Nasdaq composite rose 10.57 points, or 0.2 percent, to 6,422.75. Both are at record highs. The Russell 2000 index of smaller-company stocks dipped 8.11 points, or 0.6 percent, to 1,442.28, and the New York Stock Exchange was nearly evenly split between stocks that rose and fell.

While announcing its decision to hold short-term rates steady, the Federal Reserve said that it may begin paring the massive $4.5 trillion balance sheet it built up following the financial crisis "relatively soon," which some analysts took to mean as September. The Fed also said that inflation looks to remain below its target of 2 percent in the near term.

After the Fed's announcement, drops for Treasury yields accelerated, and the 10-year yield fell to 2.29 percent from 2.33 percent late Tuesday. The two-year yield sank to 1.35 percent from 1.39 percent.

Lower bond yields make the dividends paid by stocks more attractive, and the biggest dividend payers picked up momentum following the Fed's announcement. Utility stocks in the S&P 500 climbed 0.9 percent, for example, more than doubling their gain after the Fed's decision.

The best-performing area of the market was the telecom sector, which jumped after AT&T reported stronger second-quarter earnings than Wall Street had forecast. Its stock rose $1.81, or 5 percent, to $38.03.

Boeing was the top-performing stock, and it had its best day in more than eight years after it raised its forecast for earnings this year and reported better-than-expected earnings for the second quarter. It jumped $20.99, or 9.9 percent, to $233.45.

AT&T and Boeing were only the latest companies to report healthier profits for the April-through-June quarter than analysts expected.

"We've seen some pretty strong results from important companies," said John Wilson, senior equity portfolio manager at Columbia Threadneedle. "They're delivering very strong revenue and profit growth. That's encouraging, especially given the fact that markets have had a pretty good move."

The S&P 500 is already up nearly 11 percent for the year on the expectation that corporate profits will continue to rise, and the stronger profits help to validate the big gains. Wilson said he's noticed some particularly encouraging comments from companies about improvements they've seen in their European businesses.

Akamai Technologies fell to the sharpest loss in the S&P 500 despite reporting better-than-expected second-quarter results. It gave a forecast for third-quarter revenue and other measures that were lower than analysts were expecting, and its stock dropped $7.79, or 14.6 percent, to $45.49.

Health care stocks moved lower as investors were disappointed with several profit reports or forecasts. Hospital operator Universal Health Services dropped $10.02, or 8.2 percent, to $112.88 after it cut its outlook following a weak second quarter.

In overseas markets, Japan's benchmark Nikkei 225 index climbed 0.5 percent, South Korea's Kospi index slipped 0.2 percent and Hong Kong's Hang Seng index added 0.3 percent. France's CAC 40 rose 0.6 percent, the FTSE 100 in London gained 0.2 percent and Germany's DAX rose 0.3 percent.

Benchmark U.S. crude topped $48 per barrel for the first time in seven weeks. It climbed 86 cents, or 1.8 percent, to $48.75 per barrel. Brent crude, the international standard, gained 77 cents to $50.97 per barrel.

Natural gas fell 2 cents to $2.92 per 1,000 cubic feet. Wholesale gasoline rose 2 cents to $1.62 a gallon, and heating oil rose 3 cents to $1.60 a gallon.

Gold lost $2.70 to $1,249.40 an ounce. Silver fell 8 cents to $16.46 an ounce. Copper gained 3 cents to $2.87 a pound.

The dollar dipped to 111350 Japanese yen from 111.89 yen late Tuesday. The euro rose to $1.1725 from $1.1652, and the British pound rose to $1.3100 from $1.3037.


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## bigdog

https://finance.yahoo.com/portfolio/pf_3/view/view_4






https://finance.yahoo.com/m/adab7fae-ebcd-370f-a616-bd03d2ec9835/ss_falling-tech-stocks-pull-us.html

*Falling tech stocks pull US indexes off their record highs*




STAN CHOE
Associated Press

NEW YORK (AP) — U.S. stock indexes pulled back from their record highs Thursday after an afternoon swoon for technology companies helped overshadow another big day for telecoms.

The Standard & Poor's 500 index fell 2.41 points, or 0.1 percent, from its record set a day earlier to close at 2,475.42. The Nasdaq composite likewise fell from a record, down 40.56, or 0.6 percent, to 6,382.19. The Dow Jones industrial average was an exception, and it rose 85.54, or 0.4 percent, to 21,796.55 to set another all-time high.

Stocks had been on track for another quiet day of gains in a year full of them, but Apple, Microsoft and other technology stocks suddenly changed direction in the afternoon. After being up as much as 0.6 percent in morning trading, tech stocks in the S&P 500 finished the day down 0.8 percent. It was the worst performance among the 11 sectors that make up the index.

Software company CA had the biggest loss in the S&P 500 and fell $3.55, or 10.2 percent, to $31.10. It began to plunge around noon, following reports that merger talks between it and BMC Software have ended.

F5 Networks was another tech stock that helped lead the S&P 500 lower. It reported weaker revenue for the latest quarter than analysts expected and gave a forecast for earnings this quarter that fell short of some analysts' forecasts. Its stock lost $9.18, or 7.2 percent, to $119.02.

Close to half of the companies in the S&P 500 have reported their earnings for the latest quarter, and the results have been mostly encouraging. Not only are profits growing, so are revenues for many companies.

But expectations were high coming into the reporting season, and shares rallied accordingly. Now, companies' stocks are getting less of a boost than usual when they report earnings that are above analysts' forecasts, said Nate Thooft, senior portfolio manager at Manulife Asset Management.

"And for those few that are disappointing, they're getting penalized significantly," Thooft said. Stock prices are dropping more than usual when companies fall short of expectations, he said.

Twitter dropped $2.77, or 14.1 percent, to $16.84. It reported better-than-expected quarterly results, but it also said that its monthly average user base did not grow from the prior quarter.

Health care stocks were also weak, and drugmaker AstraZeneca sank after it said its lung cancer drug Imfinzi did not reach its goals in a clinical trial. U.S.-listed shares of AstraZeneca lost $5.06, or 14.9 percent, to $28.88.

Industrial companies also struggled, and Johnson Controls tumbled $3.18, or 7.3 percent, to $40.14. It reported weaker-than-expected revenue for the latest quarter and trimmed the upper end of the range for its forecast for full-year earnings per share.

On the opposite side were telecom stocks, which rallied for a second straight day. Verizon Communications had its best day in more than eight years after it reported more revenue than analysts expected. Many more customers added wireless phones than Wall Street had forecast. Verizon jumped $3.41, or 7.7 percent, to $47.81.

Verizon's big day follows AT&T's, which had its biggest move since 2009 on Wednesday after it reported stronger-than-expected earnings. Over the last two days, AT&T has climbed 8.8 percent, and Verizon is up 8.7 percent.

Facebook climbed $4.83, or 2.9 percent, to $170.44 after it reported stronger-than-expected earnings. Its advertising revenue rose by nearly half from a year earlier, and Wall Street was pleased with the company's spending forecasts.

Oil and gas prices rose, which helped energy stocks in the S&P 500 rise 1 percent. The price of oil has been on a strong run this week, hitting its highest level since May, and benchmark U.S. crude rose 29 cents to settle at $49.04 Thursday. Brent crude, the international standard, gained 52 cents to $51.49 a barrel.

Natural gas rose 5 cents to $2.97 per 1,000 cubic feet, heating oil gained nearly a penny to $1.60 per gallon and wholesale gasoline rose 3 cents to $1.64 per gallon.

Gold rose $10.60 to $1,260.00 per ounce, silver gained 11 cents to $16.57 an ounce and copper rose nearly a penny to $2.88 a pound.

The yield on the 10-year Treasury rose to 2.32 percent from 2.28 percent late Wednesday. The two-year yield rose to 1.36 percent from 1.35 percent, and the 30-year yield climbed to 2.94 percent from 2.89 percent.

The dollar dipped to 111.09 Japanese yen from 111.30 yen late Wednesday. The euro dipped to $1.1681 from $1.1725, and the British pound fell to $1.3070 from $1.3100.

In overseas markets, France's CAC 40 dipped 0.1 percent, Germany's DAX fell 0.8 percent and the FTSE 100 in London dropped 0.1 percent. The Japanese Nikkei 225 index up 0.1 percent. Hong Kong's Hang Seng climbed 0.7 percent and the Kospi in South Korea added 0.4 percent.


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## bigdog

https://finance.yahoo.com/portfolio/pf_3/view/view_4






https://finance.yahoo.com/m/78f06a82-4a14-3b6a-b763-54f112f3a83b/ss_stocks-sag-following.html

*Stocks sag following disappointing profit reports*




STAN CHOE
Associated Press

NEW YORK (AP) — Stock markets around the world sagged on Friday after Amazon and other big companies reported quarterly results that underwhelmed investors.

The Standard & Poor's 500 index lost 3.32 points, or 0.1 percent, to 2,472.10 and closed a week packed with corporate earnings reports almost exactly where it started. It set a record during the middle of it.

The Dow Jones industrial average gained 33.76 points, or 0.2 percent, to 21,830.31 and set another all-time high. The Nasdaq composite fell 7.51, or 0.1 percent, to 6,374.68.

A little more than half the companies in the S&P 500 have now shown how much profit they made during the spring, and the results have been mostly encouraging. Earnings for the index are on pace to be about 9 percent higher than a year earlier, according to FactSet. But expectations were high coming into the reporting season, and the few companies that have fallen short of forecasts have seen their stock prices punished.

Amazon dropped $25.96, or 2.5 percent, to $1,020.04 after its profit missed expectations. Its forecast for operating income this fiscal year was also below many analysts' forecasts, though revenue for the latest quarter beat expectations.

Earnings reports were the main focus for markets during a busy week, where the Federal Reserve also decided on Wednesday to hold interest rates steady and the government on Friday gave an update on the economy's health.

The economy grew at an annual rate of 2.6 percent in the second quarter, revved up by a rise in consumer spending, the Commerce Department reported. Last quarter's growth rate was more than double that of the year's first quarter, which was revised down to 1.2 percent. The faster growth, though, was still a shade below the 2.7 percent that economists expected.

"Overall, the economy continues to move along, but it's hard to see where the fuel is going to come from for further acceleration," said Rich Weiss, chief investment officer of multi-asset strategies at American Century Investments. He says the economy reminds him of what golfers call a "son-in-law" shot, one that's not bad but not great.

"We're not throwing new money into the stock market at this point," Weiss said. Instead of U.S. stocks, he prefers foreign markets where he says economies have more potential for improvement. Many other investors have shifted their money using a similar philosophy, and the falling value of the dollar against other currencies has helped boost foreign stocks' returns.

Excitement about the U.S. economy had been higher earlier in the year, when many investors expected the Republican takeover of Washington to lead to more pro-business policies. But inaction in the Capitol, capped by the Senate's latest failed attempt to revamp the nation's health care system, is raising doubts about whether tax reform or a big infrastructure plan will happen.

Tobacco stocks were some of Friday's worst performers after the U.S. government said it's considering limiting the amount of nicotine in cigarettes so that they're no longer addictive. Altria Group, which sells Marlboro and other cigarettes in the U.S., fell $7.02, or 9.5 percent to $66.94. It had been down as much as 18.9 percent shortly after the Food and Drug Administration's announcement.

Flowserve, which sells pumps, valves and other parts for the oil and gas industries, dropped to the biggest losses in the S&P 500 after reporting weaker earnings for the latest quarter than Wall Street had forecast. It sank $5.06, or 10.9 percent, to $41.30.

Starbucks fell $5.50, or 9.2 percent, to $54.00 after it lowered its forecast for earnings this fiscal year, and Goodyear Tire & Rubber sank $2.97, or 8.4 percent, to $32.51 after it gave a forecast for 2017 operating income that fell short of analysts' expectations.

The yield on the 10-year Treasury note fell to 2.28 percent from 2.32 percent late Thursday. The two-year yield dipped to 1.34 percent from 1.36 percent, and the 30-year yield dropped to 2.90 percent from 2.93 percent.

Stock markets around the world were weak. Japan's Nikkei 225 index dropped 0.6 percent, South Korea's Kospi lost 1.7 percent and the Hang Seng in Hong Kong fell 0.6 percent.

France's CAC 40 lost 1.1 percent, the FTSE 100 in London fell 1 percent and Germany's DAX dropped 0.4 percent

The dollar fell to 110.60 Japanese yen from 111.09 yen late Thursday. The euro rose to $1.1760 from $1.1681, and the British pound rose to $1.3149 from $1.3070.

The price of oil capped off its best week since early December with another gain. Benchmark U.S. crude rose 67 cents to settle at $49.71 per barrel and touched its highest level since May. Oil gained nearly 9 percent over the week.

Brent crude, the international standard, gained $1.03 to $53.53 a barrel Friday. Natural gas fell 3 cents to $2.94 per 1,000 cubic feet. Heating oil rose 4 cents to $1.64 per gallon, and wholesale gasoline gained 3 cents to $1.68 per gallon.

Gold rose $8.80 to settle at $1,275.30 per ounce, silver added 12 cents to $16.70 per ounce and copper was close to flat at $2.88 per pound.

11043


----------



## bigdog

https://finance.yahoo.com/portfolio/pf_3/view/view_4






https://www.usnews.com/news/busines...mpanies-take-stocks-lower-despite-media-rally

* Stocks Inch up as Media and Bank Gains Cancel Out Tech Dip *
*Stocks finish slightly higher as cable companies rise and banks gain ground as well.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks finished mostly higher Monday as banks, media and energy companies climbed just enough to cancel out losses for technology companies including Facebook and Amazon.

Cable provider Charter Communications surged on a report it might be bought by a Japanese technology company. Meanwhile, cable networks Scripps Networks and Discovery Communications agreed to combine in a deal worth almost $12 billion.

Technology companies missed out. Facebook returned some of its gains from last week, when it posted strong second-quarter results, and reports of higher expenses continued to affect Amazon's shares. Banks rose, with HSBC climbing after it disclosed its own earnings.

About half of the companies in the Standard & Poor's 500 have reported their second-quarter results, and this week, Apple and other companies will join the fray. Steve Wood, chief market strategist for Russell Investments, said he expects strong earnings for U.S. companies, but he thinks stock markets in other regions will do better.

"The earnings cycle and the economic cycle are earlier stage and the central bank of Europe is going to be providing liquidity over the next year," he said. "It's been an eight-and-a-half-year bull market in the U.S. and eight-plus-year economic expansion."

The Standard & Poor's 500 index fell 1.80 points, or 0.1 percent, to 2,470.30. The Dow Jones industrial average continued to build on its record highs. It gained 60.81 points, or 0.3 percent, to 21,891.12. The Nasdaq composite lost 26.55 points, or 0.4 percent, to 6,348.12. The Russell 2000 index of smaller-company stocks dipped 4.12 points, or 0.3 percent, to 1,425.14. A majority of the stocks on the New York Stock Exchange rose.


Charter Communications climbed after Bloomberg reported that Japanese conglomerate SoftBank is considering buying it. The report Sunday said that SoftBank initially wanted to combine Charter with Sprint, but after Charter rejected that idea, the technology company may buy Charter outright. Shares of the cable provider jumped $21.65, or 5.8 percent, to $391.91, and investors value Charter at about $101 billion.

Discovery Communications, which owns TLC and the Discovery Channel, will buy Scripps Networks Interactive for $90 per share. Scripps, which owns HGTV and the Travel Channel, picked up 50 cents to $87.41. It's up 30 percent in two weeks on reports the companies would combine. Discovery took the largest loss on the S&P 500 index as it fell $2.20, or 8.2 percent, to $24.60.

Elsewhere, Comcast added 93 cents, or 2.4 percent, to $40.45.

HSBC said higher interest rates helped it make more money from its lending business, and it plans to buy back another $2 billion in stock. Its shares climbed $1.19, or 2.4 percent, to $50.09 and Capital One Financial picked up $1.21, or 1.4 percent, to $86.18.

Among technology companies, Facebook lost $3.20, or 1.9 percent, to $169.25. The social media network leaped 8.6 percent last week. Alphabet, Google's parent company, shed $12.83, or 1.3 percent, to $945.50 and chipmaker Micron Technology lost $1.18, or 4 percent, to $28.10.

E-commerce giant Amazon also slumped $32.26, or 3.2 percent, to $98.78.

Dynavax Technologies soared after a panel advising the Food and Drug Administration said study data shows its Heplisav-B vaccine is safe for adults. Heplisav-B is intended to prevent hepatitis B infections. It would be the company's first approved drug. The stock climbed $6.60, or 71.4 percent, to $15.85.


Boeing continued its rapid ascent following reports it will make electronics used in flight control. Its stock added $1.19 to $242.46. Boeing has given the Dow a 205-point boost over the last four days. Aviation electronics company Rockwell Collins lost $7.20, or 6.3 percent, to $106.53 as investors worried about the impact of Boeing's plans.

Health insurer Centene slumped as President Donald Trump considered ending federal cost-sharing payments, which help low-income customers buy insurance through marketplaces created by the 2010 Affordable Care Act. Centene is one of the largest insurers on those marketplaces. Its stock fell $3.27, or 4 percent, to $79.42.

The price of oil rose again after its best week of the year. Benchmark U.S. crude added 46 cents to $50.17 a barrel in New York. Brent crude, the international standard, picked up 13 cents to $52.65 a barrel in London. U.S. crude rose almost 9 percent last week to reach its highest price since late May.

Wholesale gasoline rose 3 cents to $1.71 a gallon. Heating oil added 1 cent to $1.65 a gallon. Natural gas plunged 15 cents, or 5 percent, to $2.79 per 1,000 cubic feet.

Bond prices were little changed. The yield on the 10-year Treasury note stayed at 2.29 percent.

Gold fell $1.90 to $1,273.40 an ounce. Silver rose 9 cents to $16.79 an ounce. Copper added 2 cents to $2.89 a pound.

The dollar slipped to 110.24 yen from 110.60 yen. The euro rose to $1.1831 from $1.1760.

Germany's DAX lost 0.4 percent and the CAC 40 of France sank 0.7 percent. The FTSE 100 in Britain made a tiny gain. The Japanese Nikkei 225 index slipped 0.2 percent and the Kospi in South Korea finished little changed. Hong Kong's Hang Seng index jumped 1.3 percent.


----------



## bigdog

https://finance.yahoo.com/portfolio/pf_3/view/view_4






https://finance.yahoo.com/m/39064eef-193b-363b-a9fa-fe77804b4ad2/ss_banks-and-tech-stocks-send.html

*Banks and tech stocks send Dow industrials closer to 22,000*




MARLEY JAY
Associated PressA

NEW YORK (AP) — Banks and technology companies took U.S. stocks higher Tuesday, and less-loved sectors including phone and real estate companies also climbed as companies continued to report strong second-quarter results.

Payment processors also made hefty gains, while Sprint said it gained wireless subscribers and that it's open to combining with a competitor or a cable company. Royal Caribbean Cruises, Xerox and shopping mall operator Simon Property Group all climbed, while athletic apparel maker Under Armour and industrial companies fell after disappointing results. General Motors and Ford slumped on weak July sales reports.

Some of the largest gains went to companies and industries that have struggled this year, like real estate investment trusts, or which have missed out on the gains entirely, like phone companies. Randy Frederick, vice president of trading and derivatives at the Schwab Center for Financial Research, said the shift is a good sign for the stock market.

"When people are willing to go out and do the proverbial bargain hunting in areas that have not outperformed as much, that shows confidence," he said. "The broader the bull market becomes, the more sectors that participate, the more sustainable it becomes."

The Standard & Poor's 500 index rose 6.05 points, or 0.2 percent, to 2,476.35. The Dow Jones industrial average climbed 72.80 points, or 0.3 percent, to 21,963.92. The blue chip index closed at a record high for the fifth day in a row. Nasdaq composite added 14.82 points, or 0.2 percent, to 6,362.94. The Russell 2000 index of smaller-company stocks gained 3.19 points, or 0.2 percent, to 1,428.33.

Banks helped lead the way. The top gainers included JPMorgan Chase, which rose $1.23, or 1.3 percent, to $93.03 and Citigroup, which added $1.15, or 1.7 percent, to $69.60.

Intel rose as South Korean regulators signed off on its deal for Mobileye. Mobileye makes software that processes information from cameras and other car sensors to decide where an autonomous car should steer, and Intel agreed to buy it for $15 billion in March. Intel gained 88 cents, or 2.5 percent, to $36.35.

Tech could be in for more gains Wednesday. Apple reported a strong quarter after the closing bell on Tuesday, and its stock rose 4.7 percent in after-hours trading. Apple reported earnings and revenue that far exceeded analysts' forecasts, and issued a solid outlook for the fourth quarter, when the company is expected to launch a 10th anniversary version of the iPhone.

Sprint had its best day this year after it said it's open to combining with another phone company or a cable company. The fourth-largest U.S. wireless carrier also reported its first quarterly profit in three years as it cut cost and added wireless subscribers. Sprint rose 89 cents, or 11.2 percent, to $8.87.

T-Mobile USA climbed $1.41, or 2.3 percent, to $63.07 and Verizon Communications gained 49 cents, or 1 percent, to $48.89. Phone companies, real estate firms and utility all benefited because bond yields fell, which made the companies more attractive to investors who want income.

Utility company Scana continued to rise after it said it will end construction of two nuclear reactors that customers have already paid billions to build. Scana's South Carolina Electric & Gas unit and state-owned Santee Cooper say they have already spent $10 billion on the project and that it could cost $20 billion to finish. The companies blamed years of delays and cost overruns, and Westinghouse, the primary contractor, filed for bankruptcy protection earlier this year.

Scana rose $3.19, or 5 percent, to $67.56 on top of a 5 percent gain on Monday.

Cruise line operator Royal Caribbean beat analysts' forecasts and raised its estimates for the year. It climbed $3.8, or 3.4 percent, to $116.87 and competitor Carnival advanced 70 cents, or 1 percent, to $67.48.

Under Armour cut its annual revenue forecast as sharp discounts continue to affect its business in North America. The Baltimore company said it will eliminate 280 jobs and is aiming to reduce $110 million to $130 million in annual spending through a restructuring plan. Under Armour sank $1.72, or 8.6 percent, to $18.30, and it's down 52 percent since late October. Rival Nike added 79 cents, or 1.3 percent, to $59.84.

Oil prices plunged after a six-day rally. U.S. crude shed $1.01, or 2 percent, to $49.16 a barrel in New York. Brent crude, the international standard, dropped 94 cents, or 1.8 percent, to $51.78 a barrel in London.

Wholesale gasoline lost 2 cents to $1.66 a gallon. Heating oil fell 3 cents to $1.64 a gallon. Natural gas rose 3 cents to $2.82 per 1,000 cubic feet.

Bond prices climbed. The yield on the 10-year Treasury note dipped to 2.25 percent from 2.30 percent.

Gold added $6 to $1,279.40 an ounce. Silver lost 2 cents to $16.76 an ounce. Copper dipped 1 cent to $2.88 a pound.

The dollar rose to 110.30 yen from 110.24 yen. The euro slid to $1.1801 from $1.1831.

The DAX in Germany DAX rose 1.1 percent. Britain's FTSE 100 and the French CAC 40 both rose 0.7 percent. Japan's benchmark Nikkei 225 index added 0.3 percent while South Korea's Kospi climbed 0.8 percent. In Hong Kong, the Hang Seng gained 0.8 percent.


----------



## bigdog

https://finance.yahoo.com/portfolio/pf_3/view/view_4






https://www.usnews.com/news/busines...gher-led-by-gains-in-tech-companies-and-banks

* Apple Drives Dow Above 22,000 Even as Other Stocks Struggle *
*The Dow Jones industrial average closes above 22,000 points for the first time, driven by a big gain in Apple.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Being the world's most valuable public company has its privileges, like getting almost all the credit for the latest stock market milestone. Apple made its biggest jump in six months Wednesday, helping send the Dow Jones industrial average above 22,000 points for the first time.

Apple's latest profit and revenue were better than analysts expected, and the company's strong sales forecast suggests it's confident the next iPhone will reach the market on time. The technology giant's stock climbed to an all-time high, and when some other technology companies, utilities and industrial firms joined it, that was just barely enough to take the Standard & Poor's 500 index higher as well.

Much of the rest of the market was mixed, however, and most of the companies listed on the New York Stock Exchange fell. Movie theater companies tumbled after AMC Entertainment said U.S. box office grosses are sinking. Health care companies turned lower as prescription drug distributor Cardinal Health gave a weak forecast, mostly because of falling generic drug prices. Retailers and shopping mall operators also sank.

The Dow average rose 52.32 points, or 0.2 percent, to 22,016.24. Apple was responsible for 48 of those points.

The Standard & Poor's 500 index, a much broader market measure used by most professional investors, added 1.22 points, or less than 0.1 percent, to 2,477.57.

The Nasdaq composite inched down 0.29 points to 6,362.65. The Russell 2000 index of smaller-company stocks shed 15.43 points, or 1.1 percent, to 1,412.90.

"The market's not forgiving for any company that misses" Wall Street projections, said Edward Jones investment strategist Kate Warne. Overall, she said investors seem pleased that companies are reporting rising profits based on greater revenue and strong demand instead of stock buybacks and other financial moves.


Apple climbed $7.09, or 4.7 percent, to $157.14. That was the first time it set a record high in almost three months. Its stock had slipped recently in part because some investors were worried that production problems would delay the launch of the next iPhone, which would have hurt the company's fourth-quarter sales. But Apple's revenue estimate was better than expected and greater than last year, when the iPhone 7 was released.

Movie theater operators and studios declined after AMC said U.S. box office receipts dropped 4.4 percent in the second quarter, and it expects the third quarter to be difficult as well. AMC it also taking a charge of $200 million because its investment in another chain, National CineMedia, lost value. The company is also planning to slash costs by cutting operating hours and staff levels while trying to boost revenue with new pricing plans and discounts.

AMC dropped $5.60, or 26.9 percent, to $15.20 and Cinemark Holdings lost $1.94, or 5.9 percent, to $37.82. Walt Disney fell $1.04, or 1.8 percent, to $108.67. CBS gave up $1.27, or 1.9 percent, to $64.81 and Viacom dipped $1.44, or 4.1 percent, to $34.09.

Retailers also stumbled, which hurt smaller, U.S.-focused companies. Big 5 Sporting Goods reported a weak profit and sales that fell short of analysts' forecasts. Big 5 said sales of firearms, camping and water sports equipment fell, and its estimates for the current quarter fell short of Wall Street's estimates. Its stock shed 85 cents, or 7.8 percent, to $10.10.

Car retailer AutoNation also had a disappointing quarter as prices for used cars fell. It dropped $3.01, or 7.2 percent, to $38.96. Shopping mall operator GGP slid $1.13, or 4.9 percent, to $21.91 after it said it doesn't plan to sell itself, and department store chain Nordstrom drooped $2.45, or 5 percent, to $46.49 on reports the Nordstrom family might not succeed in taking the struggling company private.


Prescription drug distributor Cardinal Health forecast a much smaller profit than analysts expected. The company said it's being hurt by lower prices for generic drugs, as well as smaller increases in the prices of brand-name drugs and the loss of a contract with the Safeway grocery chain. The company's stock lost $6.34, or 8.2 percent, to $70.99.

Genetic tools company Illumina raised its projections for the rest of the year after demand for its NovaSeq genetic sequencing system was better than it expected. Its stock gained $25.55, or 14.8 percent, to $197.85.

Benchmark U.S. crude added 43 cents to close at $49.59 a barrel in New York. Brent crude, the international standard, picked up 58 cents to close at $52.36 a barrel in London. In other energy trading, wholesale gasoline fell 2 cents to $1.64 a gallon, heating oil rose 2 cents to $1.66 a gallon and natural gas held steady at $2.81 per 1,000 cubic feet.

Bond prices inched lower. The yield on the 10-year Treasury note rose to 2.27 percent from 2.25 percent.

Gold fell $1 to $1,278.40 an ounce. Silver decreased 3 cents to $16.73 an ounce. Copper stayed at $2.88 a pound.

The dollar rose to 110.61 yen from 110.30 yen. The euro edged up to $1.1860 from $1.1801.

Germany's DAX lost 0.6 percent and the CAC 40 in shed 0.4 percent. Britain's FTSE 100 gave up 0.2 percent. Japan's Nikkei 225 rose 0.5 percent and South Korea's Kospi gained 0.2 percent. Hong Kong's Hang Seng index advanced 0.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines...s-fall-as-apples-glossy-earnings-effect-fades

* US Stocks Slip, With Bigger Losses for Smaller Companies *
*US stocks are taking modest losses, with energy companies, banks and technology companies all down.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Losses for energy and technology companies left most U.S. stocks lower on Thursday. Smaller companies fared worse as the dollar remained at 15-month lows.

Energy companies weakened as the price of oil turned lower, and technology companies declined as Apple gave up a piece of its big gain from the day before. Investors bought government bonds after some shaky economic news in the U.S. and the U.K. That sent bond yields down, which hurt financial companies. Industrial companies like 3M did well, and so did large drugmakers like Pfizer.

Small companies, which surged in November and December, have slumped this week. Firearms maker Sturm Ruger tumbled Thursday after it said sales fell in the second quarter, and sporting goods companies like Big 5 and Vista Outdoor also sank. Smaller banks fared worse than larger ones.

Julian Emanuel, an equity strategist for UBS, said that as the dollar continues to lose strength, investors are selling smaller and more domestically-focused companies and buying more international businesses, as the weaker dollar will help their profits and sales outside the U.S.

"Most people didn't expect the degree of dollar weakness that we're seeing," he said. The ICE U.S. Dollar Index is down 9 percent this year and hasn't been this low in about 15 months.

The Standard & Poor's 500 index shed 5.41 points, or 0.2 percent, to 2,472.16. The Dow Jones industrial average notched its eighth gain in a row and added 9.86 points, or less than 0.1 percent, to 22,026.10. The Nasdaq composite lost 22.30 points, or 0.4 percent, to 6,340.34. The Russell 2000 index of smaller companies sank 7.67 points, or 0.5 percent, to 1,405.23 after a sharp loss a day ago.


Near the close of trading, stocks turned a bit lower after the Wall Street Journal reported that Special Counsel Robert Mueller has impaneled a grand jury in his investigation of Russia's interference in the 2016 presidential election.

Companies have reported strong second-quarter results lately as corporate earnings continue to grow, But with stocks at record highs, the market hasn't reacted very much: the S&P 500 flat over the last two weeks.

Companies that didn't live up to investors' expectations took losses. Security software maker Symantec announced disappointing first-quarter sales, and its forecasts for the rest of the year weren't as good as analysts had hoped. The company also agreed to sell its website security business to DigiCert for $950 million in cash and a 30 percent stake in DigiCert. Symantec slid 64 cents, or 2.1 percent, to $30.27.

3D printer maker 3D Systems plunged $3.62, or 21.3 percent, to $13.39 after it fell short of Wall Street estimates in the second quarter and cut its projections for the full year. Elsewhere, Apple lost $1.57, or 1 percent, to $155.57 after a big jump the day before.

Oil prices turned lower. Benchmark U.S. crude dipped 56 cents, or 1.1 percent, to $49.03 a barrel in New York. Brent crude, the international standard, fell 35 cents to $52.01 a barrel in London.

The Institute for Supply Management said production, orders and hiring by U.S. services companies all declined in July. Its services index slipped to its lowest reading in 11 months, which suggests the economy is still growing at a steady but modest pace.

Meanwhile the Bank of England reduced its economic growth forecasts. That sent the British FTSE 100 index 0.9 percent higher, however, as investors were glad the bank probably won't raise interest rates any time soon. The pound also fell.


The yield on the 10-year Treasury note fell to 2.22 percent from 2.27 percent. That sent interest rates lower, which cuts into the profits banks can make on mortgages and other loans.

Electric car maker Tesla said it's confident it can meet its production goals for its new, lower-priced Model 3 sedan. The company also took a smaller net loss than investors expected. Its shares gained $21.20, or 6.5 percent, to $347.09.

Kellogg, the maker of Frosted Flakes, Pop Tarts and Eggo waffles, reported another decline in sales as revenue from breakfast foods slipped. But the results weren't as bad as experts had expected. Its stock jumped $2.92, or 4.3 percent, to $70.36.

Avon Products lost money in its latest quarter and said sales weren't as good as expected. The cosmetics retailer has been struggling for years to revive its business, and it said Thursday that CEO Sheri McCoy will leave the company. The stock lost 36 cents, or 10.7 percent, to $3. It's down 40.5 percent this year.

In other energy trading, wholesale gasoline lost 1 cent to $1.63 a gallon. Heating oil fell 2 cents to $1.64 a gallon. Natural gas slipped 1 cent to $2.80 per 1,000 cubic feet.

Gold dipped $4 to $1,274.40 an ounce. Silver fell 10 cents to $16.63 an ounce. Copper lost less than 1 cent to $2.88 a pound.

The dollar fell to 110.06 yen from 110.61 yen. The euro rose to $1.1866 from $1.1860.

In France, the CAC 40 rose 0.5 percent and the DAX in Germany lost 0.2 percent. Japan's benchmark Nikkei 225 lost 0.3 percent and the Kospi of South Korea dropped 1.7 percent. Hong Kong's Hang Seng sank 0.3 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ian-stocks-mixed-as-us-jobs-politics-in-focus

* Another Strong Month of Hiring Sends Stock Indexes Higher *
*US stocks rise after the government reported another strong month of hiring in July as banks rally.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Banks and other stocks climbed Friday after the government reported more gains in hiring last month, the latest signal that the economy is continuing to hum along. The modest gains wrapped up another quiet week for the stock market.

The Department of Labor said U.S. employers added 209,000 jobs last month. Investors sold government bonds and bet that interest rates are going to rise, which lets banks make more money on loans. Technology companies also rose. Weight Watchers soared after reporting a strong quarter while Viacom, the media company that owns Comedy Central and MTV, sank.

July was the second consecutive month of strong hiring, suggesting that the U.S. economy is still growing steadily as countries in Europe and less developed countries come out of long slumps.

"The economy is in pretty good shape," said Paul Zemsky, chief investment officer for the multi-asset business of Voya Investment Strategies. "We're seeing for the first time more of a globally synchronized growth."

He said that will lead to a stronger global economy and will help American companies and stocks if growth in the U.S. falters.

The Standard & Poor's 500 index added 4.67 points, or 0.2 percent, to 2,476.83. The Dow Jones industrial average rose 66.71 points, or 0.3 percent, to 22,092.81. That was its ninth gain in a row. The Nasdaq composite climbed 11.22 points, or 0.2 percent, to 6,351.56. The Russell 2000 index of smaller companies gained 7.09 points, or 0.5 percent, to 1,412.32.

European stock indexes made even larger gains. France's CAC 40 index climbed 1.4 percent and the DAX in Germany jumped 1.2 percent. The British FTSE 100 gained 0.5 percent.

Bond prices dropped, sending yields higher. The yield on the 10-year Treasury note climbed to 2.26 percent from 2.22 percent as investors concluded it is more likely the Federal Reserve will raise interest rates again later in the year.


Bank of America climbed 60 cents, or 2.5 percent, to $24.98 and KeyCorp picked up 37 cents, or 2.1 percent, to $18.40.

Despite the gains Friday and the Dow's long winning streak, most stocks have hardly moved over the last two weeks. The market barely reacted to news Thursday that Special Counsel Robert Mueller impaneled a grand jury as he continues to investigate Russia's meddling in the presidential election.

Investors have consistently ignored surprising or unusual news out of Washington, and President Donald Trump's tweets don't affect stocks the way they did six months ago either.

Zemsky, of Voya, said that with the economy and corporate earnings doing well, investors will stay the course unless something much more dramatic happens.

"Selling stocks on a tweet or a news headline when the fundamentals are good is going to ultimately lead to losses," he said.

Food delivery company Grubhub and Yelp both jumped after Grubhub moved to expand its business by buying Yelp's Eat24 unit. Along with the $287.5 million sale, the companies announced a deal that will let people reading Yelp reviews order food from restaurants that use Grubhub. Yelp climbed $8.68, or 27.7 percent, to $40.05 while Grubhub added $4.37, or 9.1 percent, to $52.62.

Weight Watchers International raised its forecasts for the year after it blew past analysts' expectations. The company said it had 20 percent more subscribers at the end of June than it did a year earlier. Its stock gained $8.31, or 25.1 percent, to $41.39.


Weight Watchers was worth under $7 a share when Oprah Winfrey bought a 10-percent stake in it in 2015 and appeared in an ad for the company. It traded above $80 in early 2012.

Viacom tumbled after the company reported trouble with a financing deal with a Chinese company. The company said it didn't receive a payment in June from Huahua Media, which agreed to help finance Paramount Pictures films as part of a deal that was struck in January. The stock sank $4.85, or 13.8 percent, to $30.22.

Viacom also said it subscribers to its cable networks dipped in the third quarter, and in the current quarter it expects a decline in the fees it receives from cable companies who carry its networks.

Among other cable network companies, Twenty-First Century Fox fell 36 cents, or 1.3 percent, to $28.46. Discovery Communications lost $1.01, or 4.1 percent, to $23.73.

Consumers are streaming more shows and movies and look for ways to cut their bills, pressures that helped push Discovery to agree to buy rival Scripps Networks on Monday. Cable company stocks have slumped since Time Warner reported a drop in ad revenue in May.

Benchmark U.S. crude rose 55 cents, or 1.1 percent, to $49.58 per barrel in New York. Brent crude, the international standard, added 41 cents to $52.42 a barrel in London.

Wholesale gasoline rose 1 cent to $1.65 a gallon. Heating oil gained 1 cent to $1.65 a gallon. Natural gas lost 3 cents to $2.77 per 1,000 cubic feet

The dollar rose to 110.67 yen from 110.06 yen. The euro fell to $1.1769 from $1.1866.

Gold fell $9.80 to $1,264.60 an ounce. Silver dropped 38 cents, or 2.3 percent, to $16.25 an ounce. Copper rose 1 cent to $2.89 a pound.

In Asia, the Nikkei 225 index in Japan fell 0.4 percent while South Korea's Kospi added 0.4 percent. The Hang Seng in Hong Kong edged up 0.1 percent.

1275


----------



## bigdog

https://www.usnews.com/news/busines...-climb-on-momentum-from-upbeat-us-jobs-report

* Tech Firms Drive US Stock Indexes to New Highs *


By ALEX VEIGA, AP Business Writer

Gains in technology companies helped lift U.S. stock index higher Monday, nudging the market once again into record territory.

The Standard & Poor's 500 index closed at an all-time high, as did the Dow Jones industrial average. The latest gain extended the Dow's winning streak to 10 days.

Traders bid up shares in microchip makers and other technology companies. Grocery chains, drugstore operators and other consumer-focused companies also helped drive the market higher. Energy companies declined the most along with the price of crude oil. Banks and industrial companies also lagged.

Investors were mostly focused on the latest company earnings and deal news.

"Earnings have been strong, particularly revenue growth has come in stronger than initial estimates," said Quincy Krosby, chief market strategist at Prudential Financial. "And overall the guidance has been strong."

The S&P 500 index rose 4.08 points, or 0.2 percent, to 2,480.91. The Dow gained 25.61 points, or 0.1 percent, to 22,118.42. The Nasdaq composite added 32.21 points, or 0.5 percent, to 6,383.77. The Russell 2000 index of smaller-company stocks picked up 1.85 points, or 0.1 percent, to 1,414.17.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.26 percent from 2.27 percent late Friday.

Positive economic data and strong company earnings have helped nudge the stock market mostly higher in recent weeks.

Heading into Monday, about 82 percent of S&P 500 companies had reported quarterly results, with roughly 52 percent having posted better-than-expected earnings and revenue, according to S&P Global Market Intelligence. Of those, technology companies led all others with 73 percent of the sector's results beating Wall Street's expectations.


Investors have welcomed the positive earnings growth, pushing the market further into record territory, fueling speculation about how high the market can go before there is a pullback.

"What you want to see is a broad range of stocks pushing the market higher, and what we're seeing are fewer stocks pushing the market higher," Krosby said. "That's not necessarily a prescription for a major pullback, but it's something to watch. Statistically, August and September tend to be the least-hospitable period for the market."

Technology companies lead the market's gainers Monday. Lam Research rose $5.79, or 3.9 percent, to $155.84. KLA-Tencor rose $3.18, or 3.6 percent, to $92.01.

Energy stocks were on the other end of the spectrum. Pioneer Natural Resources fell $5.70, or 4.2 percent, to $129.64, while Newfield Exploration lost $1.39, or 5 percent, to $26.44.

Traders also continued to bid up shares in companies whose earnings topped analysts' forecasts.

Tyson Foods climbed $3.60, or 5.7 percent, to $66.90. The meat processor's forecasts also pleased investors. ON Semiconductor jumped $1.23, or 8.1 percent, to $16.33.

Some companies' results disappointed the market.

Armstrong Flooring slumped 17.5 percent after the company's latest quarterly results fell well short of analysts' forecasts. The stock slid $3.03 to $14.25.

The market welcomed the proposed combination of NxStage Medical and Germany's Fresenius Medical Care AG & Co. NxStage, a medical device company, agreed to be acquired by Fresenius for $30 a share in a cash deal valued at about $2 billion. NxStage shares vaulted $6.53, or 28.2 percent, to $29.67.

Oil prices fell. Benchmark U.S. crude fell 19 cents, or 0.4 percent, to $49.39 per barrel in New York. Brent crude, the international standard, lost 5 cents, or 0.1 percent, to $52.37 a barrel in London.


In other energy futures trading, wholesale gasoline dipped 2 cents to $1.63 a gallon. Heating oil fell 1 cent to $1.64 a gallon. Natural gas gained 3 cents to $2.80 per 1,000 cubic feet.

Gold added 10 cents to $1,264.70 an ounce. Silver held steady at $16.25 an ounce. Copper rose 2 cents to $2.91 a pound.

The U.S. dollar climbed to 110.72 from 110.67 yen on Friday. It weakened against the euro, which rose to $1.1793 from $1.1769. The euro was below $1.06 as recently as April, before the dollar began weakening steadily.

Markets in Europe were mixed. Germany's DAX fell 0.3 percent, while France's CAC 40 rose 0.1 percent. The FTSE 100 in Britain edged 0.3 percent higher. Earlier in Asia, Hong Kong's Hang Seng index added 0.5 percent, while South Korea's Kospi rose 0.1 percent.


----------



## bigdog

http://www.startribune.com/us-stocks-edge-lower-in-early-trading-oil-heads-lower/439212423/

*US stocks close lower, snapping Dow's 10-day winning streak*
*By ALEX VEIGA * Associated Press
August 8, 2017 — 4:16pm

Losses in health care and consumer-focused companies pulled U.S. stocks broadly lower Tuesday, snapping a 10-day winning streak for the Dow Jones industrial average.

Energy stocks also fell along with the price of crude oil. Only utilities sector stocks eked out a gain on a day of mostly listless trading as investors kept an eye on the latest company earnings and geopolitical news.

The market slide accelerated slightly in the last half-hour of trading as President Donald Trump denounced North Korea's nuclear program.

The remarks followed a new report asserting that U.S. intelligence has assessed that Pyongyang has successfully produced a nuclear warhead that can fit inside its missiles.

"That may have weighed a little bit" on markets, said Phil Guarco, global investment specialist J.P. Morgan Private Bank.

The Standard & Poor's 500 index fell 5.99 points, or 0.2 percent, to 2,474.92. The Dow slid 33.08 points, or 0.2 percent, to 22,085.34. The S&P 500 and Dow were both coming off record highs.

The Nasdaq composite lost 13.31 points, or 0.2 percent, to 6,370.46. The Russell 2000 index of smaller-company stocks gave up 4.02 points, or 0.3 percent, to 1,410.15.

Bond prices were little changed. The yield on the 10-year Treasury note held steady at 2.26 percent.

The market indexes wavered between small gains and losses for much of the morning, then veered lower by afternoon. The slide deepened after Trump's remarks on North Korea aired.

At a briefing on opioid addiction at his golf course in Bedminster, New Jersey, Trump warned North Korea not to make any more threats against the United States, adding that North Korea would be "met with fire and fury like the world has never seen."

The VIX, a measure of how much volatility investors expect in stocks, jumped 10.4 percent.

Beyond geopolitical concerns, investors continued to size up company earnings reports.

Avis Budget Group slumped 9.9 percent after the car rental company cut its guidance following a weak second quarter. The stock fell $3.30 to $30.09.

SeaWorld Entertainment slid 6.2 percent after the theme park operator reported second-quarter revenue that fell short of Wall Street's expectations. The stock fell 85 cents to $12.76.

Traders snapped up shares in companies that delivered strong quarterly results.

Michael Kors climbed 21.5 percent after the luxury handbag and apparel designer and retailer's latest quarterly results beat analysts' forecasts as sales improved. The stock was the biggest gainer in the S&P 500, adding $8.02 to $45.25.

Ralph Lauren gained $10.38, or 13.3 percent, to $88.53, while peer-to-peer loan company LendingClub added 99 cents, or 18.1 percent, to $6.45.

Health care equipment and services company Henry Schein declined amid a broader slide by health care stocks. Its shares slid $9.77, or 5.3 percent, to $174.02.

Benchmark U.S. crude fell 22 cents to $49.17 a barrel on the New York Mercantile Exchange. Brent crude, the international standard, lost 23 cents to $52.14 a barrel in London.

In other energy futures trading, wholesale gasoline dipped 1 cent to $1.62 a gallon. Heating oil fell 1 cent to $1.63 a gallon. Natural gas gained 2 cents to $2.82 per 1,000 cubic feet.

Gold fell $2.10 to $1,262.60 an ounce. Silver gained 14 cents to $16.39 an ounce. Copper rose 4 cents to $2.94 a pound.

The U.S. dollar fell to 110.48 yen from 110.72 yen late Monday. The euro slid to $1.1752 from $1.1793.

Markets overseas were mixed Tuesday.

In Europe, Germany's DAX rose 0.3 percent, while France's CAC 40 added 0.2 percent. Britain's FTSE 100 added 0.1 percent.

In Asia, markets were mostly lower after disappointing Chinese trade data. Japan's Nikkei 225 slipped 0.3 percent, while Australia's S&P/ASX 200 lost 0.5 percent. South Korea's Kospi fell 0.2 percent. Hong Kong's Hang Seng added 0.6 percent.


----------



## bigdog

https://www.usnews.com/news/busines...lower-as-us-north-korea-nuclear-tensions-rise

*US Stocks Close Slightly Lower, Trimming Earlier Losses *

By ALEX VEIGA, AP Business Writer

U.S. stocks closed slightly lower Wednesday, making up much of the ground they lost earlier following a rare batch of earnings disappointments by Walt Disney and other big companies.

Consumer-focused stocks, media companies and banks accounted for much of the market decline. They outweighed gains in health care stocks and elsewhere. Small-company stocks fell more than the rest of the market.

Investors' unease over escalating tensions between the U.S. and North Korea had weighed on stocks earlier in the day, pushing gold and bond prices slightly higher. But by the end of the day, traders appeared to take the geopolitical drama in stride.

"Right now the market is viewing it as a lot of saber-rattling and a lot of smoke, but not much fire," said Darrell Cronk, president of Wells Fargo Investment Institute.

The Standard & Poor's 500 index slipped 0.90 points, or 0.04 percent, to 2,474.02. The Dow Jones industrial average slid 36.64 points, or 0.2 percent, to 22,048.70. Earlier, the average had been down more than 88 points.

The Nasdaq composite lost 18.13 points, or 0.3 percent, to 6,352.33. The Russell 2000 index of smaller-company stocks gave up 13.20 points, or 0.9 percent, to 1,396.95. That's the index's lowest level in two months.

The stage was set for the U.S. indexes to go lower early Wednesday as investors around the world reacted to the rising war of words between the U.S. and North Korea, pushing global market indexes lower.

On Tuesday, President Donald Trump warned North Korea of "fire and fury" in response to recent threats from Pyongyang, which said it was examining plans for attacking Guam, a U.S. territory in the Pacific with a military base. Trump's comments followed reports that the North has mastered a technology needed to strike the United States with a nuclear missile.


Investors reacted by driving up the price of gold and bonds, traditional safe-haven plays. But the moves were modest.

Gold added $16.70, or 1.3 percent, to settle at $1,279.30 an ounce.

Bond prices rose. The yield on the 10-year Treasury note slipped to 2.25 percent from 2.26 percent late Tuesday.

While the tough talk about the potential for war is scary, investors have heard it many times before.

"North Korea was fodder for the overnight trade, and as we headed into today we haven't seen any more saber-rattling," said JJ Kinahan, chief market strategist at TD Ameritrade. "I would expect the markets to react again pretty negatively to any more tough talk from either side, but for now, everybody seems to have settled down, and we'll see what happens."

Outside of geopolitical concerns, disappointing company earnings and outlooks put traders in a selling mood.

Priceline Group slid 6.9 percent after the online travel booking service issued a profit forecast that was weaker than analysts were expecting. The stock lost $142.20 to $1,906.80.

Disney dropped 3.9 percent, its biggest single-day loss in more than a year, after the media giant reported a weak quarter and said it would pull its movies from Netflix and start two of its own video streaming services. The stock lost $4.15 to $102.83. Netflix also fell, giving up $2.58, or 1.4 percent, to $175.78.

Shares in several other big media companies also declined. Discovery Communications fell 70 cents, or 2.9 percent, to $23.60. Viacom slid 60 cents, or 1.9 percent, to $30.17.

Fossil tumbled 25.1 percent after the watch maker said sales continued to weaken, falling short of analysts' estimates. The company booked a hefty charge and said its CFO is leaving the company. The stock lost $2.97 to $8.87.


Health care stocks, which have been in a slump, posted gains. Humana rose $4.74, or 1.9 percent, to $254.96.

The geopolitical turmoil appeared to have more of an impact overnight and into early Wednesday.

In Europe, Germany's DAX fell 1.1 percent, while France's CAC 40 slid 1.4 percent. The FTSE 100 index of leading British shares declined 0.6 percent. Major indexes in Asia closed lower. Tokyo's Nikkei 225 tumbled 1.3 percent, while Seoul's Kospi fell 1.1 percent. Hong Kong's Hang Seng was off 0.3 percent.

Benchmark U.S. crude added 39 cents to settle at $49.56 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, gained 56 cents to $52.70 in London.

In other energy futures trading, wholesale gasoline was little changed at $1.62 a gallon, heating oil rose 2 cents to $1.65 a gallon and natural gas rose 6 cents to $2.88 per 1,000 cubic feet.

Silver gained 47 cents, or 2.9 percent, to $16.86 an ounce. Copper fell 2 cents to $2.93 a pound.

The dollar fell to 109.85 yen from 110.48 yen late Tuesday. The euro held steady at $1.1752.


----------



## bigdog

https://www.usnews.com/news/busines...stly-lower-on-growing-unease-over-north-korea

*Tech Companies Lead Worst Day for US Stock Market Since May *

By ALEX VEIGA, AP Business Writer

Brewing tensions between the U.S. and North Korea put investors in a selling mood again Thursday, dragging U.S. stocks lower for the third day in a row.

The latest sell-off was the most severe yet, amounting to the biggest single-day drop for the stock market in nearly three months.

Technology companies, which have been the biggest gainers this year as the market hit a succession of record highs, led the broad slide. Banks and department store shares also were among the big decliners. Utilities eked out a small gain.

"The market has been looking for an excuse to sell off and North Korea and the president gave the market that excuse," said David Schiegoleit, managing director at the U.S. Bank Private Client Wealth Management. "As long as it doesn't go beyond just a war of words, this is going to be short-lived."

The Standard & Poor's 500 index dropped 35.81 points, or 1.4 percent, to 2,438.21. The Dow Jones industrial average slid 204.69 points, or 0.9 percent, to 21,844.01, just shy of its low point for the day.

The tech-heavy Nasdaq composite bore the brunt of the sell-off, losing 135.46 points, or 2.1 percent, to 6,216.87. May 17 was the last time the three indexes had a bigger single-day decline.

Smaller-company stocks also fell sharply. The Russell 2000 index gave up 24.40 points, or 1.7 percent, to 1,372.54. All the indexes are down for the week.

Bond prices rose. The yield on the 10-year Treasury note slipped to 2.20 percent from 2.25 percent late Wednesday.

Wall Street got off to a downbeat start early Thursday as tensions between the U.S. and North Korea continued to escalate, rattling markets overseas.

Early in the day, North Korea revealed a detailed plan to launch a salvo of ballistic missiles toward the U.S. Pacific territory of Guam, a major military hub and home to U.S. bombers. Later, speaking to reporters, President Donald Trump demanded that North Korea "get their act together" or face extraordinary trouble.


Unease over the situation pushed the VIX, a measure of how much volatility investors expect in stocks, up 44.4 percent. That's the biggest increase since May.

The market jitters gave investors an opportunity to pocket some of their recent gains following a string of record highs fueled by strong corporate earnings.

"There's not a fundamental reason why what we're seeing out of North Korea right now should affect stock market prices, but it's being used as the reason to sell off right now because we've been looking for it for so long," Schiegoleit said. "This really is a profit-taking sell-off. I don't see it as a fear-driven sell-off."

Heading into Thursday, some 89 percent of the companies in the S&P 500 had reported quarterly results. Of those, 52 percent delivered earnings and revenue that beat financial analysts' forecasts, according to S&P Global Market Intelligence.

Technology stocks, the biggest gainers this year, led Thursday's market slide.

Nvidia fell $7.37, or 4.3 percent, to $164.74, while Advanced Micro Devices gave up 71 cents, or 5.5 percent, to $12.12.

Several financial sector companies also helped pull down the market. Bank of New York Mellon slid $2.09, or 3.9 percent, to $51.95, while Citizens Financial Group shed $1.32, or 3.8 percent, to $33.71.

Disappointing quarterly results from big department store chains also weighed down the market.

Macy's tumbled 10.2 percent after the company said its sales continued to decline in the second quarter. The stock lost $2.36 to $20.67. Dillard's slumped 15.9 percent after the chain booked a loss for the second quarter as increased inventory led to big discounts. Its shares slid $11.64 to $61.70. Kohl's also declined, giving up $2.43, or 5.8 percent, to $39.50.


Blue Apron slumped 17.6 percent after the meal kit seller reported a sequential decline in customers in the second quarter due to a planned reduction in marketing. The trend appeared to overshadow strong quarterly revenue growth in the quarter. The stock fell $1.10 to $5.14.

Oil prices closed lower after an early rally faded.

Benchmark U.S. crude fell 97 cents, or 2 percent, to $48.59 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, slid 80 cents, or 1.5 percent, to $51.90.

Other energy futures trading was mixed. Wholesale gasoline dropped 2 cents to $1.60 a gallon, while heating oil shed 2 cents to $1.63 a gallon. Natural gas jumped 10 cents, or 3.5 percent, to $2.99 per 1,000 cubic feet.

Gold added $10.80, or 0.8 percent, to settle at $1,290.10 an ounce. Silver gained 20 cents, or 1.2 percent, to $17.07 an ounce. Copper fell 2 cents to $2.90 a pound.

The dollar slipped to 109.26 yen from 109.85 late Wednesday. The euro rose to $1.1774 from $1.1752.

Major stock indexes overseas also racked up losses Thursday.

In Europe, Germany's DAX fell 1.1 percent, while the CAC 40 in France lost 0.6 percent. Britain's FTSE 100 sank 1.4 percent. Earlier in Asia, Japan's benchmark Nikkei 225 slipped less than 0.1 percent, while Hong Kong's Hang Seng slid 1.1 percent. South Korea's Kospi fell 0.5 percent. Australia's S&P/ASX 200 edged down nearly 0.1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...lump-on-profit-taking-amid-us-nkorea-tensions
*
Japan closed on a public holiday*

*US Stocks Snap 3-Day Losing Streak in Roller Coaster Week*

By ALEX VEIGA, AP Business Writer

Gains among technology companies helped snap a three-day losing streak for U.S. stocks Friday, though the market ended with its worst weekly loss since March.

The modest rebound came at the end of a turbulent week on Wall Street as escalating tensions between the U.S. and North Korea rattled global markets.

In the first four days of the week, the Standard & Poor's 500 index swung from marking its latest record high to posting its biggest single-day drop in nearly three months.

The negative headlines provided many investors with an opportunity to pocket some of their recent gains following a string of record highs fueled by strong corporate earnings.

"It's been a bit of a roller coaster this week, with all the rhetoric between the U.S. and North Korea," said Jeff Kravetz, regional investment strategist at U.S. Bank Wealth Management. "That did temporarily shake investors' complacency, but we think markets are ready to move higher in the back half of the year, and earnings and economic data are going to drive that."

On Friday, the S&P 500 rose 3.11 points, or 0.1 percent, to 2,441.32. The index had its biggest drop since mid-May a day earlier. The Dow Jones industrials average gained 14.31 points, or 0.1 percent, to 21,858.32. The Nasdaq added 39.68 points, or 0.6 percent, to 6,256.56. The Russell 2000 index of smaller-company stocks picked up 1.69 points, or 0.1 percent, to 1,374.23.

The recovery fit a recent pattern of investors using dips to put more money in stocks.

Despite the past week's decline, the major indexes are in positive territory so far this year, led by the Nasdaq, which is up 16.2 percent. The S&P 500 is up 9 percent, while the Dow is up 10.6 percent.


"If you strip away what's going on in North Korea, and if you strip away what's going on in Washington, which are things that are tougher to predict, the economy, the global recovery, earnings, it all paints a very positive picture for the rest of the year," Kravetz said.

Tensions between the U.S. and North Korea continued to simmer early Friday. In a tweet, President Donald Trump warned of military action "should North Korea act unwisely," noting that the U.S. is "locked and loaded." Earlier in the week, Trump said the U.S. would unleash "fire and fury" on North Korea if it continued to threaten the U.S.

North Korea had announced a detailed plan to launch a salvo of ballistic missiles toward the U.S. Pacific territory of Guam, a major military hub and home to U.S. bombers.

Still, there were fewer signs of anxiousness in the markets Friday. Bond and gold prices, traditional havens for nervous investors, were little changed, and the VIX, a measure of how much volatility investors expect in stocks, fell 3.3 percent following a 44.4 percent jump the day before. It's still the highest it's been since May.

Investors also drew some encouragement from new government data showing U.S. inflation at the consumer level inched higher last month. July's 0.1 percent increase in consumer prices suggests that the Federal Reserve may be less likely to raise interest rates next month.

Inflation has risen 1.7 percent over the past 12 months, suggesting that inflation pressures remain well under control. The Fed, which raised its key interest rate in March and June, has signaled it plans a third rate hike before the end of this year. But some economists say the Fed may stand pat for the rest of 2017 unless inflation accelerates in coming months.


"Today's inflation data put the Fed on pause and really diminishes the fact that there's still some noise going around with the North Korea-U.S. situation," said Phil Blancato, CEO of Ladenburg Thalmann Asset Management.

Technology companies, which suffered the brunt of the selling a day earlier, were back in the lead Friday. Lam Research Corp. climbed $4.82, or 3.2 percent, to $154.26.

Seagate Technology gained 2.3 percent after investor ValueAct disclosed that it had acquired a 7.2 percent stake in the digital storage company. Seagate shares rose 74 cents to $32.29.

Traders sold off financial stocks amid speculation that the Fed will decide to hold off on raising interest rates next month. Higher interest rates can help boost banks' revenue from loans. Regions Financial shed 23 cents, or 1.6 percent, to $14.07.

J.C. Penney sank 16.6 percent after the struggling department store chain reported quarterly results that fell short of Wall Street's expectations. The company also said sales at its established stores declined for the fourth straight quarter. The stock lost 78 cents to $3.93.

Bond prices rose. The yield on the 10-year Treasury note slipped to 2.19 percent from 2.20 percent late Thursday.

Benchmark U.S. crude rose 23 cents to settle at $48.82 a barrel on the on the New York Mercantile Exchange. Brent crude, used to price international oils, rose 20 cents to $52.10 a barrel in London.

In other energy futures trading, wholesale gasoline rose 1 cent to $1.61 a gallon, while heating oil was little changed at $1.63 a gallon. Natural gas was also flat at $2.98 per 1,000 cubic feet.

Gold added $3.90 to settle at $1,294 an ounce. Silver gained 1 cent to $17.07 an ounce. Copper rose 1 cent to $2.91 a pound.


The dollar slipped to 109.04 yen from 109.26 late Thursday. The euro rose to $1.1824 from $1.1774.

Major indexes in Europe closed mostly lower. Germany's DAX was flat, while France's CAC 40 fell 1.1 percent. Britain's FTSE 100 was down 1.1 percent.

In Asia, several indexes closed lower overnight. South Korea's Kospi lost 1.7 percent, while Hong Kong's Hang Seng slid 2 percent. Australia's S&P/ASX 200 dropped 1.2 percent. Japan was closed on a public holiday.

1531


----------



## bigdog

https://www.usnews.com/news/busines...mostly-up-nikkei-falls-as-yen-gains-vs-dollar


*US Stocks Jump as Tensions With North Korea Appear to Ease *

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks rallied Monday as technology companies and banks helped companies regain a lot of the ground they lost last week, although the calm that has defined the market this year wasn't quite restored.

Almost 90 percent of the Standard & Poor's 500 index finished higher. Technology stocks outpaced the rest of the market following a strong report on the state of Japan's economy. Last week, rising tensions between the U.S. and North Korea sent stocks to some of their biggest losses in 2017. That eased Monday after officials said fighting is not imminent.

"What the market really reacted negatively to on Thursday was Trump's somewhat incendiary comments about 'fire and fury,'" said Dave Lafferty, chief market strategist of Natixis Global Asset Management. "The administration sort of walked back Trump's comments over the weekend."

But while stocks climbed, investors weren't ready to loosen their grip on some traditionally safe investments. Bond prices slipped only by a small amount and gold finished a little lower, while silver prices rose.

The S&P 500 jumped 24.52 points, or 1 percent, to 2,465.84. The Dow Jones industrial average gained 135.39 points, or 0.6 percent, to 21,993.71. The Nasdaq composite added 83.68 points, or 1.3 percent, to 6,340.23. The Russell 2000 index of smaller companies climbed 20.08 points, or 1.5 percent, to 1,394.31.

Among technology companies, Apple added $2.37, or 1.5 percent, to $159.85 and Microsoft picked up $1.09, or 1.5 percent, to $73.59. After two days of losses, Nvidia jumped $12.44, or 8 percent, to $168.40 as chipmakers made outsize gains.

Bond prices turned lower. The yield on the 10-year Treasury note rose to 2.22 percent from 2.19 percent late Friday. That helped banks, as higher bond yields mean higher interest rates and greater profits on mortgages and other loans.


Bank of America climbed 56 cents, or 2.3 percent, to $24.42 and JPMorgan Chase gained $1.07, or 1.2 percent, to $92.49.

U.S. crude oil lost $1.23, or 2.5 percent, to $47.59 a barrel in New York. Brent crude, the international standard, shed $1.37, or 2.6 percent, to $50.73 a barrel in London. Energy companies finished with modest losses.

Numerous companies used the weekend to complete deals.

Retailer Target is buying a delivery logistics company to help it offer same-day delivery service to in-store shoppers. The company did not say how much it will pay for Grand Junction, a firm that connects retailers with about 700 delivery companies around the country that pick up items from distribution centers and take them to customers. It is already testing same-day delivery at a New York store.

Target stock climbed 76 cents, or 1.4 percent, to $55.79. Amazon.com did even better as it rose $15.31, or 1.6 percent, to $983.30.

VF Corp., which owns North Face, Vans and other brands, said it will buy work clothes maker Williamson-Dickie for $820 million. Its stock added $1.92, or 3.1 percent, to $63.50.

Equipment rental company Neff said it received a buyout offer worth $25 per share, or $596 million. It did not say who made the offer, but Neff said its board has decided the new offer is superior to a bid from H&E Equipment Services that the company accepted last month. H&E Equipment has the right to match the new offer. Neff climbed $4.15, or 19 percent, to $26. H&E's offer valued Neff at $21.07 a share.

H&E Equipment lost 66 cents, or 3.1 percent, to $20.93.


Drilling technology developer Tesco said it will be acquired by drilling contractor Nabors Industries in an all-stock deal. The companies said Tesco is being valued at $4.62 a share. Tesco added 50 cents, or 12.8 percent, to $4.40. Nabors lost 16 cents, or 2.4 percent, to $6.64.

Shonda Rhimes, the creator of popular television series such as "Scandal" and "Grey's Anatomy," will leave ABC and make shows for Netflix under a new contract. Financial terms were not disclosed. Netflix, which already spends billions of dollars a year on programming, has recently started shelling out more money for new shows. Last week it bought comic book publisher Millarworld, its first-ever acquisition.

Netflix lost 40 cents to $171.

Fiat Chrysler climbed after Automotive News reported that a Chinese car maker offered to buy the company. It did not identify that company and said Fiat Chrysler rejected the offer because it wasn't high enough, but investors hoped another bid would come. Fiat Chrysler stock gained 99 cents, or 8.5 percent, to $12.60.

Gold fell $3.60 to $1,290.40 an ounce. Silver added 5 cents to $17.12 an ounce. Copper dipped 1 cent to $2.90 a pound.

The dollar rose to 109.63 yen from 109.04 yen. The euro fell to $1.1782 from $1.1824.

In other energy trading, wholesale gasoline lost 4 cents to $1.58 a gallon. Heating oil fell 3 cents to $1.61 a gallon. Natural gas slid 2 cents to $2.96 per 1,000 cubic feet.

Germany's DAX jumped 1.3 percent and the CAC 40 in France gained 1.2 percent. In Britain, the FTSE 100 index added 0.6 percent. Hong Kong's Hang Seng index jumped 1.4 percent and the South Korean Kospi rose 0.6 percent. Japanese stocks fell sharply as investors played catch-up after an extended holiday weekend. The Nikkei ended 1 percent lower.


----------



## bigdog

https://www.usnews.com/news/busines...ise-after-koreas-us-make-diplomatic-overtures

*Markets in South Korea were closed for a national holiday.*

*Retailers Stumble but Stocks Are Little Changed Overall *

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stock indexes finished Tuesday close to where they started as technology companies and household goods makers rose. But weak reports from sporting goods and auto parts retailers left a lot of smaller companies with steep losses.

Dick's Sporting Goods and Advance Auto Parts both disclosed disappointing second-quarter results and cut their annual forecasts, which affected a slew of other companies. Other retailers also dropped, including Home Depot, which posted strong results. Other groups of stocks managed modest gains.

"Especially in the month of August, when not as many investors are around, you get a lot of this group trading," said Brian Nagel, analyst who covers retailers for Oppenheimer & Co.

Nagel said struggles for Dick's and Advance Auto Parts don't say anything about how retailers in other industries are doing, but if investors grow pessimistic about retail, they may sell all kinds of retailers when one part of the industry struggles.

The Standard & Poor's 500 index lost 1.23 points, or less than 0.1 percent, to 2,464.61. The Dow Jones industrial average picked up 5.28 points to 21,998.99. The Nasdaq composite fell 7.22 points, or 0.1 percent, to 6,333.01. The Russell 2000 index of smaller-company stocks shed 11.07 points, or 0.8 percent, to 1,383.24. The S&P 600, an index of small-cap stocks, plunged 1 percent.

Stocks were coming off their biggest one-day gain in more than three months as the market recovered from last week's turmoil.

Dick's Sporting Goods cut its annual forecast after a weak second quarter. The sporting goods chain said athletic apparel sales were weak and that it plans to do more marketing and cut prices as it tries to keep its market share. Its stock plunged $8.04, or 23 percent, to $26.87.


Foot Locker fell $2.19, or 4.4 percent, to $47.13 and Hibbett Sports dropped $2.30, or 16.5 percent, to $11.65. Athletic apparel companies also lost ground. Nike shed $1.22, or 2 percent, to $58.56 and Under Armour lost 45 cents, or 2.6 percent, to $16.66.

Advance Auto Parts tumbled after it slashed its annual forecasts. The company and its competitors are facing weakening demand because car sales are slowing down from their recent record pace. Meanwhile competition from online retailers is growing. Advance Auto Parts dropped $22.24, or 20.3 percent, to $87.08. AutoZone sank $9.19, or 1.7 percent, to $516.13 and O'Reilly Automotive gave up $2.44, or 1.2 percent, to $196.

All three have taken steep losses this year.

Luxury retailer Coach tumbled after its fourth-quarter sales and its profit forecast for the current fiscal year came up short of analyst estimates. Its shares fell $7.28, or 15.2 percent, to $40.64.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.27 percent from 2.22 percent. Fifth Third Bancorp rose 34 cents, or 1.3 percent, to $27.02 and Discover Financial Services added $1.37, or 2.3 percent, to $61.87.

Warren Buffett's Berkshire Hathaway bought stock in consumer credit company Synchrony Financial and picked up more shares of Bank of New York Mellon. It sold its remaining shares of General Electric and continued to reduce its stake in IBM. Synchrony gained $1.35, or 4.6 percent, to $30.99 and GE fell 22 cents to $25.14.

Offshore oil drilling rig company Transocean said it will buy Songa Offshore for $1.2 billion in cash. The deal expands Transocean's backlog as it continues to deal with low oil prices, but it will saddle the company with even more debt. Transocean had about $6.6 billion in long-term debt at the end of June, and investors value the company at about $3 billion. Its stock gave up 48 cents, or 5.7 percent, to $7.91.


Retailers of all kinds were trading lower even though the Commerce Department said consumers did far more shopping in July, as retail sales grew by the biggest amount this year. Those sales have not been great in 2017.

U.S. crude oil lost 4 cents to $47.55 a barrel in New York. Brent crude, the international standard, added 7 cents to $50.80 a barrel in London. Energy companies fell as well. Schlumberger fell 51 cents to $63.44 and Occidental Petroleum declined 62 cents, or 1 percent, to $60.62.

Wholesale gasoline remained at $1.58 a gallon. Heating oil lost 1 cent to $1.60 a gallon. Natural gas fell 2 cents to $2.94 per 1,000 cubic feet.

Gold fell $10.70 to $1,279.70 an ounce. Silver lost 41 cents, or 2.4 percent, to $16.71 an ounce. Copper shed 2 cent to $2.88 a pound.

The dollar rose to 110.58 yen from 109.63 yen. The euro fell to $1.1734 from $1.1782.

France's CAC 40 was up 0.4 percent and the German DAX rose 0.1 percent. Britain's FTSE 100 was 0.4 percent higher. In Japan the benchmark Nikkei 225 gained 1.1 percent and Hong Kong's Hang Seng slipped 0.3 percent. Markets in South Korea were closed for a national holiday.


----------



## bigdog

https://www.usnews.com/news/busines...ares-mixed-after-us-indexes-take-small-losses

*US Stocks Edge Higher as Retailers Rally; Oil Companies Fall *

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks rose slightly Wednesday as Urban Outfitters and Target helped retailers rally. That was enough to cancel out more losses for energy companies.

Urban Outfitters and Target did better in the second quarter than analysts expected, and Target raised its forecasts for the year. That helped companies that sell clothing and other retailers. Technology companies and firms that make and sell household goods also traded higher.

A wide variety of retailers saw their shares sink the day before based on weak earnings reports. With Wal-Mart and Ross Stores in line to report their own results Thursday, investors could change their minds again.

"This sector is not for the faint of heart," said JJ Kinahan, chief strategist for TD Ameritrade. "The market is trying to figure out who the winners and losers are going to be."

He said turbulence for retailers will be a constant as online competition keeps growing and customers want more features like same-day delivery.

The Standard & Poor's 500 index picked up 3.50 points, or 0.1 percent, to 2,468.11. The Dow Jones industrial average added 25.88 points, or 0.1 percent, to 22,024.87. The Nasdaq composite gained 12.10 points, or 0.2 percent, to 6,345.11. The Russell 2000 index of smaller companies inched up 0.30 points to 1,383.53.

Clothing and accessories retailer Urban Outfitters had a better second quarter than Wall Street expected, and analysts said there are some signs the company's business is recovering after years of struggles. The stock rose $2.94, or 17.5 percent, to $19.76. Even with those gains, it's down 31 percent this year and recently traded at eight-year lows, far below its price of $45 a share in early 2015.


Target gained $1.96, or 3.6 percent, to $56.31. The company raised its annual estimates after it did better than analysts expected in the second quarter.

Gap climbed 50 cents, or 2.3 percent, to $22.57. Express added 27 cents, or 4.8 percent, to $5.84. Retailers had struggled a day earlier after poor results and lower forecasts from Dick's Sporting Goods and Advance Auto Parts. The S&P 500 index of retailers climbed 1.7 percent Wednesday after a 2.3 percent plunge the day before.

Benchmark U.S. crude lost 77 cents, or 1.6 percent, to $46.78 a barrel in New York. Brent crude, used to price international oils, dipped 53 cents, or 1 percent, to $50.27 a barrel in London. That pulled energy companies down further. EOG Resources fell $2.04, or 2.3 percent, to $84.98 and Marathon Oil fell 34 cents, or 2.9 percent, to $11.19.

Energy companies have slumped this month, but their second-quarter profits have improved dramatically compared to a year ago. A year ago the companies were struggling to make money thanks to a prolonged slump in oil prices. But for more than a year, U.S. crude has mostly stayed between $40 and $55 a barrel.

Stocks made bigger gains earlier in the day, but they slipped after a group of CEOs, including the heads of 3M and Campbell Soup, said they were leaving a manufacturing jobs group over comments about made by President Donald Trump about the racially charged violence in Charlottesville, Virginia this past weekend.

Trump then tweeted that he is ending that council as well as a strategy and policy group. The furor could create more obstacles for Trump's pro-business agenda of tax cuts and infrastructure spending.

The Dow rose as much as 86 points earlier on.


After an early gain, the dollar dipped to 110.16 yen from 110.58 yen. The euro rebounded to $1.1769 from $1.1734.

Bond prices turned higher. The yield on the 10-year Treasury note fell to 2.23 percent from 2.27 percent.

With bond yields falling, banks and financial companies turned lower as well. Lower bond yields mean lower interest rates on loans and fewer profits for banks.

Lincoln National fell $1.03, or 1.4 percent, to $71.14 and Bank of America gave up 28 cents, or 1.1 percent, to $24.19. Regions Financial sank 14 cents, or 1 percent, to $14.34.

The minutes from the Federal Reserve's meeting last month did not include many details about the central bank's plans for letting its balance sheet shrink. The notes showed a divided Fed, as some members of its policy committee think that interest rates should stay about where they are because inflation is still low. But others felt that interest rates should be raised because delays might lead to dangerously high inflation later.

Fed officials unanimously agreed to leave the interest rates unchanged.

Gold rose $3.20 to $1,282.90 an ounce. Silver climbed 23 cents, or 1.4 percent, to $16.94. Copper jumped 6 cents, or 2.4 percent, to $2.95 a pound.

In other energy trading, wholesale gasoline lost 2 cents to $1.56 a gallon. Heating oil fell 3 cents to $1.57 a gallon. Natural gas shed 5 cents to $2.89 per 1,000 cubic feet.

France's CAC 40 rose 0.7 percent, and Germany's DAX and the FTSE i100 in Britain rose by the same amount. Tokyo's Nikkei 225 retreated 0.1 percent while the Hang Seng in Hong Kong rose 0.9 percent. The South Korean Kospi advanced 0.6 percent.


----------



## bigdog

http://www.winonadailynews.com/news...cle_275679cd-8f99-5925-ad00-e5cf2571982e.html

* US stocks tumble to worst loss in 3 months in broad selling *

By MARLEY JAY AP Markets Writer


NEW YORK (AP) — U.S. stocks plunged Thursday as losses for Cisco Systems hurt technology companies while Wal-Mart declined after its latest quarterly report. Banks also dropped as bond yields and interest rates sank for a second day.

It was the second-worst day for stocks this year, which has seen few large declines. Along with technology companies and retailers, transportation companies skidded and all of the industrial, financial and basic materials companies in the S&P 500 fell. Those sectors tend to struggle when investors are concerned about economic growth, although there weren't any specific signs of economic trouble Thursday.

The Standard & Poor's 500 index dropped 38.10 points, or 1.5 percent, to 2,430.01, its lowest close since July 11. The Dow Jones industrial average tumbled 274.14 points, or 1.2 percent, to 21,750.73. The Nasdaq composite sank 123.19 points, or 1.9 percent, to 6,221.91. The Russell 2000 index of smaller-company stocks fell 24.59 points, or 1.8 percent, to 1,358.94.

High-dividend stocks like utilities and real estate companies fared slightly better than the rest of the market, although they still finished lower. About 95 percent of the companies in the S&P 500 finished with losses.

Bill Northey, chief investment officer at U.S. Bank Wealth Management, said that minutes released Wednesday from the Federal Reserve's policy meeting last month marked "a little bit of a change in tone," and suggested that the central bank is becoming more cautious about raising interest rates.

That helped push long-term interest rates in the bond market lower since then. Lower bond yields tend to hurt banks, because it prevents them from charging higher rates on loans, and benefits high-dividend stocks.

Investors were also assessing the state of President Donald Trump's business-friendly agenda as he continues to face criticism over his comments after the violence in Charlottesville, Virginia, over the weekend. After he was elected, investors hoped his proposals for tax cuts and infrastructure spending would boost corporate profits.

"Most of the agenda ... has been a little bit distracted by non-economic factors," said Northey.

Investors also looked for safer investments after a deadly van attack in Barcelona that killed at least 13 people and injured 100.

Cisco Systems fell $1.30, or 4 percent, to $31.04 after it said sales will decline in the current quarter. It's expecting a decline of 1 to 3 percent from the $12.4 billion in revenue it reported a year ago.

Data storage company NetApp offered a forecast for the current quarter that disappointed investors. Its stock lost $2.85, or 6.7 percent, to $39.56. It had a lot of company. Apple retreated $3.08, or 1.9 percent, to $157.87 while software maker Adobe Systems skidded $3.57, or 2.4 percent, to $148.23 and chipmaker Texas Instruments fell $2.31, or 2.8 percent, to $80.15.

Wal-Mart did better than analysts expected in the second quarter as shoppers spent more money on its website and more people came to its stores. But that wasn't enough to sustain a recent rally in the company's stock, and its shares lost $1.28, or 1.6 percent, to $79.70.

L Brands, the parent of Victoria's Secret, tumbled after it cut its annual profit forecast because of weakening sales. The stock retreated $1.40, or 3.6 percent, to $37.55, and it's down 43 percent this year as retailers slump overall and the company struggles after it decided to stop selling swimwear.

Elsewhere, Amazon fell $17.61, or 1.8 percent, to $960.57 and Macy's lost 52 cents, or 2.6 percent, to $19.62.

Despite some shaky reports Thursday, it's been another strong quarter of corporate earnings. Per-share profits for S&P 500 companies have grown almost 11 percent in the second quarter versus the same period a year ago. Profits for energy companies have quadrupled because the price of oil has stabilized, and technology companies have also posted big gains. Consumer-focused companies have made smaller gains.

Analysts, including U.S. Bank's Northey, mostly expect the stock market to keep rising as long as company profits keep growing.

The only bigger loss for stocks this year came on May 17. At that time, investors were concerned that Trump's pro-business agenda might be affected by allegations he asked the FBI to drop an investigation into former National Security Adviser Michael Flynn.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.19 percent from 2.23 percent. The yield on the 2-year note fell to 1.29 percent from 1.33 percent.

Benchmark U.S. crude rose 31 cents to $47.09 a barrel in New York. Brent crude, used to price international oils, added 76 cents, or 1.5 percent, to $51.03 a barrel in London.

Wholesale gasoline added 2 cents to $1.59 per gallon. Heating oil picked up 1 cent to $1.58 a gallon. Natural gas gained 4 cents to $2.93 per 1,000 cubic feet.

Gold rose $9.50 to $1,292.40 an ounce. Silver added 11 cents to $17.05 an ounce. Copper lost 2 cents to $2.94 a pound.

The dollar dipped to 109.67 yen from 110.16 yen. The euro fell to $1.1742 from $1.1769.

Germany's DAX fell 0.5 percent and the CAC 40 of France shed 0.6 percent. Britain's FTSE 100 also gave up 0.6 percent. The Japanese Nikkei 225 index edged 0.1 percent lower and Hong Kong's Hang Seng dropped 0.2 percent. In South Korea, the Kospi gained 0.6 percent.


----------



## bigdog

https://www.usnews.com/news/busines...s-track-wall-street-slide-spain-attack-weighs

*A Midday Rally Fades as Sporting Goods Stocks Are Penalized *

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks slumped in the final minutes of trading Friday and ended a rough week with more losses. Bad news from sporting goods retailers weighed on the market.

A day before, stocks had taken their biggest loss in three months. They opened lower after retailers Foot Locker and Hibbett Sports gave dour quarterly reports. The losses eased and stocks briefly turned higher following reports that President Donald Trump's chief strategist, Steve Bannon, left his White House post. Investors felt that makes it a bit more likely the administration can achieve at least some of its pro-business agenda.

Major stock indexes are at their lowest levels since early July as investors respond to tensions between the U.S. and North Korea, two terrorist in Spain on Thursday, and mounting challenges to the Trump agenda of tax cuts, infrastructure spending and reduced regulation. But the market hasn't had a severe reaction to all that news. The Standard & Poor's 500 index is only 2.2 percent below the record high it set earlier this month.

"There is a tremendous amount of optimism that is supporting the market even in the face of extraordinary stress," said Brad McMillan, chief investment officer at Commonwealth Financial Network. "The question is, will politics pull that down? And the answer seems to be no, because the market has learned not to pay that much attention."

The S&P 500 lost 4.46 points, or 0.2 percent, to 2,425.55. The Dow Jones industrial average fell 76.22 points, or 0.3 percent, to 21,674.51. The Nasdaq composite shed 5.39 points, or 0.1 percent, to 6,216.53. The Russell 2000 index of smaller-company stocks gave up 1.15 point, or 0.1 percent, to 1,357.79. The index has fallen 6 percent since July 25.


Athletic gear retailer Foot Locker plunged to its biggest loss in almost nine years. The company said some high-priced sneakers didn't sell as well as it hoped, and there aren't a lot of exciting new shoes on the market. It doesn't expect that problem to clear up soon and it now plans to close at least 135 stores, up from 100. The stock dropped $13.32, or 27.9 percent, to $34.38 in heavy trading.

Hibbett Sports cut its annual forecasts and its stock fell 60 cents, or 5.2 percent, to $10.90. It's down 71 percent this year, and Foot Locker has fallen 52 percent. Companies that make athletic goods also lost ground, and Nike sank $2.51, or 4.4 percent, to $54.95. Real estate companies that own shopping malls and other retail locations also fell. Simon Property Group, which declined $3.62, or 2.3 percent, to $153.58.

Deere tumbled after its sales in the fiscal third quarter came in lower than investors hoped. The company's profit got a large boost after the company sold some of its stake in SiteOne Landscape Supply, and analysts said they were disappointed with the company's equipment sales. The stock dropped $6.67, or 5.4 percent, to $117.31.

Energy companies rose as benchmark U.S. crude oil jumped $1.42, or 3 percent, to $48.51 a barrel in New York. Brent crude, the international standard, added $1.69, or 3.3 percent, to $52.72 a barrel in London.

Beauty products company Estee Lauder jumped after its fiscal fourth-quarter results surpassed Wall Street's expectations. The company also gave strong forecasts for the current fiscal year. Its stock gained $7.60, or 7.7 percent, to $105.92. Competitor Ulta Beauty picked up $2.77, or 1.1 percent, to $244.20.


Concerns about the prospects for Trump's pro-business agenda, including tax cuts and infrastructure spending, weighed on the market this week as the president and the administration were criticized for their response to last weekend's violence in Charlottesville, Virginia.

"When you see Congressmen and Senators, including people who've been close with President Trump, backing away, that means Congress is going to have a tougher road," said McMillan.

Stock indexes in Europe fell further as violence in Spain continued. On Thursday, a van plowed into pedestrians in Barcelona and killed 13 people. Later, a group of people used a car to hit tourists and locals at a seaside resort town, and one woman was killed. Spain's Ibex 35 lost 0.6 percent and the British FTSE 100 index declined 0.9 percent. France's CAC 40 fell 0.6 percent and the German DAX closed down 0.1 percent.

Bond prices finished about where they started. The yield on the 10-year Treasury note remained at 2.19 percent.

Early on, gold rose to its highest price since before the presidential election in November, but it finished down 80 cents at $1,291.60 an ounce. Silver dipped 5 cents to $17 an ounce. Copper remained at $2.94 a pound.

In other energy trading, wholesale gasoline rose 4 cents to $1.62 a gallon. Heating oil added 4 cents to $1.62 a gallon. Natural gas lost 4 cents to $2.89 per 1,000 cubic feet.

The dollar fell to 109.26 yen from 109.67 yen. The euro rose to $1.1760 from $1.1742.

In Asia, Japan's benchmark Nikkei 225 index lost 1.2 percent and the Kospi in South Korea shed 0.1 percent. Hong Kong's Hang Seng sank 1.1 percent.


1986
_


----------



## bigdog

https://www.usnews.com/news/busines...s-mixed-ahead-of-korean-drills-banker-meeting

*US Stock Indexes Inch Higher After Back-To-Back Down Weeks *

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks inched higher Monday, as the Standard & Poor's 500 index steadied following back-to-back losses the last two weeks.

This week may be a calmer one for the stock market, after an uncharacteristically bumpy stretch shook what had been an incredibly smooth ride higher for stocks this year. Few market-moving events are on the calendar this week, and the highlight will likely arrive when central bankers from around the world gather in Wyoming as the weekend approaches.

The S&P 500 rose 2.82 points, or 0.1 percent, to 2,428.37 after it and other indexes flipped between small gains and losses throughout the day. The Dow Jones industrial average gained 29.24, or 0.1 percent, to 21,703.75, and the Nasdaq composite slipped 3.40 points, or 0.1 percent, to 6,213.13.

The modest moves were a return to form for the market. It's had just four days this year where the S&P 500 has dropped by more than 1 percent, which is well below the typical number in recent decades. But half those instances occurred in the last two weeks, stoked by worries about discord in Washington and the potential for war abroad.

"One of the reasons the market has held in and performed well recently — although it's wobbled a bit in the last two weeks — has been earnings," said Ernie Cecilia, chief investment officer at Bryn Mawr Trust. "Without the earnings that we saw, it would have been a much more difficult period of time for the market."

Companies are mostly done reporting their results for the spring quarter, and their growth in profits was stronger than analysts expected. Not only that, businesses also reported higher revenues. That's encouraging given the struggles many companies have had in recent years to grow amid the still-sluggish global economy.


Cecilia said he sees few potential drivers that could move markets much in either direction in the coming weeks, and he expects the market to "trade in some sort of sideways fashion."

One potential highlight could be the upcoming gathering in Jackson Hole, Wyoming, for central bankers, economists and policy makers. Federal Reserve Chair Janet Yellen and European Central Bank head Mario Draghi are both expected to speak at the symposium, which begins Thursday and is hosted by the Fed's regional bank in Kansas City.

Tremendous stimulus from central banks has been one of the main reasons for the stock market's surge since the Great Recession. But the Federal Reserve is now slowly raising interest rates and preparing to pare back the vast trove of bonds that it bought following the 2008 financial crisis. Investors are wondering when the European Central Bank may follow suit.

Jackson Hole has been the site of market-moving news in the past, including in 2010 when former Fed Chair Ben Bernanke signaled the central bank may embark on another round of bond buying to shore up the economy.

Another wild card for markets may lie in Asia, where U.S. and South Korean forces on Monday started their annual joint military exercises. Tensions are higher than usual with North Korea, and Pyongyang in the past has responded to the drills with weapons tests and a string of belligerent rhetoric.

In Asia, South Korea's Kospi index dipped 0.1 percent, Japan's Nikkei 225 index fell 0.4 percent and the Hang Seng in Hong Kong rose 0.4 percent.

In Europe, France's CAC 40 fell 0.5 percent, Germany's DAX lost 0.8 percent and the FTSE 100 in London slipped 0.1 percent.


In the U.S., mining companies helped to lead the market after prices for metals and other commodities rose. Freeport-McMoRan had the biggest gain in the S&P 500, up 58 cents, or 4.1 percent, to $14.73. Not far behind was Newmont Mining, which rose 78 cents, or 2.2 percent, to $36.61.

Gold rose $5.10 to settle at $1,296.70 per ounce, silver rose 2 cents to $17.02 per ounce and copper gained 4 cents to $2.98 per pound.

Dividend-paying stocks were also strong, with real-estate investment trusts the best-performing sector of the 11 that make up the S&P 500. Investors snapped up dividend-paying stocks as bond yields fell on Monday.

The yield on the 10-year Treasury note dipped to 2.17 percent from 2.20 percent late Friday. The two-year yield slipped to 1.30 percent from 1.31 percent, and the 30-year yield fell to 2.77 percent from 2.78 percent.

On the losing side of the U.S. stock market, again, were stocks of athletic-gear companies. Shares had tumbled across the industry on Friday after Foot Locker and Hibbett Sports said revenue fell last quarter. Foot Locker fell $2.56, or 7.4 percent, to $31.82 for Monday's biggest loss in the S&P 500. It plunged 27.9 percent on Friday.

The dollar dipped to 108.85 Japanese yen from 109.26 yen late Friday. The euro rose to $1.1813 from $1.1760, and the British pound rose to $1.2901 from $1.2876.

Benchmark U.S. crude fell $1.14 to settle at $47.37 per barrel. Brent crude, the international standard, lost $1.06 to $51.66 a barrel.

Natural gas rose 7 cents $2.96 per 1,000 cubic feet, heating oil fell 5 cents to $1.57 per gallon and wholesale gasoline lost 4 cents to $1.58 per gallon.


----------



## bigdog

https://www.usnews.com/news/business/articles/2017-08-22/asian-stocks-mixed-after-wall-street-gains

*Stocks Surge, Put Shaky Few Weeks Further Behind Them*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Stocks around the world jumped on Tuesday, and the Standard & Poor's 500 had one of its best days of the year, as markets put a shaky last couple of weeks further behind them.

Shares of technology companies and retailers helped lead the way in the United States. And with markets in a less-nervous mood, prices for Treasury bonds, gold and other go-to investments for turbulent times fell.

The Standard & Poor's 500 rose 24.14 points, or 1 percent, to 2,452.51 for its fourth-biggest gain of the year. It's taken just two days for the index to recoup half the loss it sustained in the two weeks since setting a record on Aug. 7. Those two weeks were a jolt for markets, as worries rose about political strife in Washington and abroad.

The Dow Jones industrial average rose 196.14 points, or 0.9 percent, to 21,899.89 on Tuesday, and the Nasdaq composite gained 84.35, or 1.4 percent, to 6,297.48.

It's the latest example of investors seeing drops in the market as opportunities to buy, not reasons to unload stocks.

"We've seen these blips of volatility this year, and we have tended to calm down very quickly afterward," said Jon Adams, senior investment strategist at BMO Global Asset Management.

He pointed in part to increased optimism that Washington will avoid a default on the federal debt. The Senate's majority leader said on Monday there is "zero chance" that Congress will vote against increasing the country's borrowing limit.

Many analysts are expecting markets to drift sideways in upcoming weeks, with few market-moving events on the calendar.

One highlight could be the symposium for central bankers from around the world in Jackson Hole, Wyoming, at the end of this week. The Federal Reserve is raising interest rates and is preparing to pare back the $4.5 trillion it holds on its balance sheet, and investors are wondering when the European Central Bank will follow suit.


The heads of both the Fed and the European Central Bank are expected to speak at the symposium, and if either suggests a more aggressive pace than investors are expecting, it would likely mean another tumble for markets. But investors say the Fed in particular has been meticulous in setting expectations so markets aren't taken by surprise.

"We wouldn't expect much market moving overall," Adams said.

If markets do end up calming down, it would mark a return to a smooth ride for investors. The S&P 500 is up 9.5 percent for the year, and the climb had been a remarkably placid one until two weeks ago. It had just two days this year where it fell by 1 percent or more, before doubling its tally during the last two weeks.

Technology companies led the way, and those in the S&P 500 rose 1.5 percent for the biggest gain among the 11 sectors that make up the index.

Macy's jumped to one of the largest gains in the index after it said an eBay executive, Hal Lawton, would become its president. Traditional retailers have been struggling to compete with online rivals, and Macy's also said it is restructuring its organization to drive more sales and cut costs. Its stock rose 89 cents, or 4.6 percent, to $20.42.

Shoe retailer DSW surged $2.74, or 17.5 percent, to $18.43 after it reported stronger earnings and revenue for the latest quarter than analysts had forecast.

Markets abroad were likewise strong. In Europe, Germany's DAX jumped 1.4 percent, France's CAC 40 rose 0.9 percent and the FTSE 100 gained 0.9 percent in London.


In Asia, Hong Kong's Hang Seng climbed 0.9 percent, South Korea's Kospi added 0.4 percent and the Nikkei 225 in Japan was virtually flat.

The ebullient tone led investors to sell Treasury bonds, which are considered among the safest investments. That in turn pushed up yields. The 10-year Treasury note's yield rose to 2.21 percent from 2.18 percent late Monday.

The dollar rose to 109.52 Japanese yen from 108.85 yen late Friday. The euro fell to $1.1752 from $1.1813, and the British pound fell to $1.2828 from $1.2901.

Benchmark U.S. crude rose 27 cents to settle at $47.64 per barrel. Brent crude, the international standard, gained 21 cents to settle at $51.87 a barrel.

Natural gas fell 2 cents to $2.94 per 1,000 cubic feet, heating oil was virtually flat at $1.59 per gallon and wholesale gasoline rose a penny to $1.59 per gallon.

Gold fell $5.70 to $1,291.00 per ounce, silver fell 3 cents to $16.98 per ounce and copper rose 1 cents to $2.99 per pound.


----------



## bigdog

https://www.usnews.com/news/busines...-rise-modestly-after-wall-streets-sharp-gains

*US Stock Indexes Sag as a Two-Day Rally Peters Out *

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Stocks retreated on Wednesday and gave back some of their gains from a day earlier, when the Standard & Poor's 500 index had one of its best days of the year.

Advertising companies and retailers had some of the steepest drops on worries about their earnings, while prices for Treasury bonds and gold rose modestly as investors sought safer ground. It's the latest move lower for a stock market that's yo-yoed since setting a record high earlier this month.

The Standard & Poor's 500 index fell 8.47 points, or 0.3 percent, to 2,444.04, relinquishing about a third of its big gain from Tuesday. The loss snapped a two-day winning streak that followed a nearly two-weeklong slump. After all its back and forth, the S&P 500 is still within 1.5 percent of its record.

The Dow Jones industrial average fell 87.80 points, or 0.4 percent, to 21,812.09, and the Nasdaq composite lost 19.07, or 0.3 percent, to 6,278.41. The Russell 2000 index of small-cap stocks fell 1.80, or 0.1 percent, to 1,369.74.

Advertising companies had the biggest losses in the S&P 500 after an industry giant cut its forecast for revenue this year. WPP warned that its clients are feeling pressure to control their spending, and its shares plunged 10.9 percent in London. In the U.S., Omnicom Group fell $5.47, or 7 percent to $72.66, and Interpublic Group lost $1.32, or 6.3 percent, to $19.58.

Lowe's, the home-improvement retailer, also dragged down the S&P 500 after it reported profit and revenue for the latest quarter that were weaker than analysts expected. It gave a profit outlook for the year that fell short of Wall Street's forecast, and its stock fell $2.81, or 3.7 percent, to $73.01. A report showing that sales of new homes were weaker in July than economists expected didn't help.


Worries about politics were a big reason for the market's stumbles in recent weeks. In Washington, the concern is about whether the government can push through tax cuts and other pro-business policies that were considered slam dunks early this year. Now, the market seems to have little to no expectation for much help coming from Washington, said Katie Nixon, chief investment officer at Northern Trust Wealth Management.

"Actions speak louder than words, and when we see actual action, you'll see markets sit up and take notice," she said. "But so far it's been a rhetorical exercise."

She said she noticed CEOs talking a lot about their hopes for tax reform or infrastructure spending earlier this year, when companies were reporting their results for the January-through-March quarter. But in conference calls the last few weeks, as CEOs reported their results for the spring quarter, Nixon heard much less of such talk.

The government is coming close to some crucial deadlines, including one to increase its borrowing authority in order to avoid a default on its debt and another to prevent a government shutdown.

In a speech late Tuesday, President Donald Trump said that "if we have to close down our government, we're building that wall" that he wants on the border between Mexico and the United States. He also said that he thinks the U.S. government will "end up probably terminating" the North American Free Trade Agreement with Canada and Mexico, though he also said that he has yet to make up his mind.

Besides Washington, markets are also looking toward the mountains of Wyoming, where central bankers from around the world are gathering soon.


The heads of the Federal Reserve and the European Central Bank are expected to speak at a symposium, which begins Thursday, and investors are waiting to hear if any change is upcoming in their support for the global economy.

Most analysts expect to hear nothing surprising from the meeting. The Fed has already begun raising interest rates and is preparing to pare back the $4.5 trillion in Treasurys and other investments it's amassed.

Prices for Treasurys rose, which in turn pushed down yields. The 10-year Treasury yield fell to 2.16 percent from 2.21 percent late Tuesday. The two-year yield dipped to 1.31 percent from 1.33 percent, and the 30-year yield dropped to 2.75 percent from 2.79 percent.

In overseas stock markets, the French CAC 40 fell 0.3 percent, Germany's DAX dropped 0.5 percent and the FTSE 100 in London was close to flat. Japan's Nikkei 225 rose 0.3 percent, while South Korea's Kospi was virtually flat.

The dollar fell to 109.01 Japanese yen from 109.52 yen late Tuesday. The euro rose to $1.1821 from $1.1752, and the British pound fell to $1.2804 from $1.2828.

Benchmark U.S. crude oil rose 58 cents to settle at $48.41 per barrel. Brent crude, the international standard, rose 70 cents to $52.57 per barrel.

Gold rose $3.70 to settle at $1,294.70 per ounce, silver gained 6 cents to $17.05 per ounce and copper slipped a penny to $2.98 per pound.

Natural gas fell 1 cent to $2.93 per 1,000 cubic feet, heating oil rose 3 cents to $1.62 per gallon and wholesale gasoline gained 3 cents to $1.62 per gallon.


----------



## bigdog

https://www.usnews.com/news/busines.../asian-markets-mixed-as-jackson-hole-in-focus

*Up, Down, Back Again: Stocks Dip After Meandering Again*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stock indexes ticked lower on Thursday, but only after a circuitous ride that saw them flip multiple times between small gains and losses. It's the latest meandering course for a market that's been pushed in many directions the last few weeks.

Food companies struggled after the makers of Spam and Folgers coffee reported weaker-than-expected results, and grocers fell after Amazon said it plans to cut prices for avocados, eggs and other products when it takes control of Whole Foods next week. Retailers, meanwhile, were big winners after a wide variety said they earned fatter profits last quarter than Wall Street forecast.

The Standard & Poor's 500 index fell 5.07 points, or 0.2 percent, to 2,438.97. Through the day, it flipped between gains of up to 0.3 percent and losses of up to 0.3 percent.

The Dow Jones industrial average fell 28.69 points, or 0.1 percent, to 21,783.40, the Nasdaq composite fell 7.08 points, or 0.1 percent, to 6,271.33 and the Russell 2000 index of small-cap stocks rose 4.14 points, or 0.3 percent, to 1,373.88.

The market has drifted up and down since the S&P 500 set a record high earlier this month. Helping stocks has been strong growth in profits, and most S&P 500 companies have reported higher earnings for the spring quarter than analysts forecast, along with healthier revenue.

Hurting stocks have been worries about politics both in Washington and abroad. Doubts are rising about how much help the Republican-led White House and Congress can provide for businesses. Several crucial deadlines are coming up that could damage the economy, including a vote to avoid a default on the national debt, though most investors expect calamity to be averted.


This week has also featured lighter trading than usual, with few market-moving events on the calendar. That may be exacerbating moves for the market. For all the noise, though, the S&P 500 is still within 1.7 percent of its record.

One event that could capture the market's attention is a symposium of central bankers in Jackson Hole, Wyoming. Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi are both expected to speak at the meeting on Friday. Few analysts expect to hear major surprises.

"I can't imagine anything significant outside of what we already know, which is that over time global rates will move up," said Tom Stringfellow, chief investment officer of Frost Investment Advisors. "Maybe we'll get some commentary on how they'll manage it to keep debt markets calm."

With rates on the way up, Stringfellow said he expects the market to become increasingly split between winners and losers. That would be a change from prior years, when markets often rose and fell in unison.

On Thursday, the New York Stock Exchange was nearly evenly split between stocks that rose and fell.

On the losing side was J.M. Smucker, which had the biggest loss in the S&P 500 after reporting weaker profit for the latest quarter than Wall Street expected. It cited weaker-than-expected sales for Folgers coffee, and it also lowered the range for its forecast of full-year profit. The stock dropped $11.34, or 9.5 percent, to $107.51.

Hormel Foods fell after it cut its forecast for full-year earnings due to higher costs for pork bellies and other ingredients. Its stock lost $1.83, or 5.4 percent, to $32.09.

On the winning side were retailers, led by Signet Jewelers, which jumped $8.65, or 16.7 percent, to $60.54. Strong sales of bracelets, rings and necklaces helped it report bigger revenue and profit for the latest quarter than analysts expected. Signet also said it was acquiring R2Net, an online jewelry retailer, for $328 million in cash.


Dollar Tree, whose stores sell $1 towels and $1 Champagne flutes, surged after it reported stronger earnings than Wall Street forecast. Customers bought more at each store visit than they did a year ago, and the company raised its forecast for profit this year. Dollar Tree's stock rose $4.18, or 5.6 percent, to $78.50.

In overseas markets, France's CAC 40 was close to flat, the FTSE 100 in London climbed 0.3 percent and Germany's DAX index gained 0.1 percent. Japan's Nikkei 225 index fell 0.4 percent, the Hang Seng in Hong Kong rose 0.4 percent and South Korea's Kospi index gained 0.4 percent.

The yield on the 10-year Treasury rose to 2.20 percent from 2.17 percent late Wednesday. The two-year yield held steady at 1.31 percent, and the 30-year yield climbed to 2.77 percent from 2.75 percent.

The dollar rose to 109.51 to Japanese yen from 109.01 yen late Wednesday. The euro fell to $1.1806 from $1.1821, and the British pound slipped to $1.2802 from $1.2804.

Shares of refiners rose along with the price of gasoline as Hurricane Harvey approached the Texas coast of the Gulf of Mexico, which is home to many refineries. Valero Energy rose $1.73, or 2.6 percent, to $67.44, and Marathon Petroleum gained 96 cents, or 1.9 percent, to $51.13.

Wholesale gasoline futures rose 5 cents, or 2.8 percent, to $1.66 per gallon.

Benchmark U.S. crude fell 98 cents, or 2 percent, to settle at $47.43 per barrel. Brent crude, the international standard, fell 53 cents, or 1 percent, to settle at $52.04 a barrel.


Natural gas rose 2 cents to settle at $2.95 per 1,000 cubic feet, heating oil was close to flat at $1.62 per gallon.

Gold lost $2.70 to settle at $1,292.00 per ounce, silver fell 8 cents to $16.96 per ounce and copper added 5 cents to $3.03 per pound.


----------



## bigdog

https://www.usnews.com/news/busines...-mostly-higher-awaiting-central-banks-meeting

*Stocks Climb; S&P 500 Breaks Two-Week Losing Streak *

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Stocks rose on Friday, and the Standard & Poor's 500 index cruised to its first winning week in the last three.

It was a relatively quiet week, with fewer shares trading hands than usual, and one where the most anticipated event was a pair of speeches expected to create only a ripple in the market, if that. The annual symposium of central bankers in Wyoming followed through on those expectations.

The S&P 500 rose 4.08 points, or 0.2 percent, to 2,443.05, and it barely budged off its course after Federal Reserve Chair Janet Yellen gave her speech in the morning. The day's other headline event, a speech by European Central Bank head Mario Draghi, likewise did little to alter the course for stocks.

The Dow Jones industrial average gained 30.27 points, or 0.1 percent, to 21,813.67, the Nasdaq composite dipped 5.68, or 0.1 percent, to 6,265.64 and the Russell 2000 index of small-cap stocks rose 3.58, or 0.3 percent, to 1,377.45.

Central bankers have used past gatherings of economists in Jackson Hole to signal big changes in policy, and investors were listening in case this time followed suit.

But Yellen focused on defending regulation of the financial industry and gave no indication of changes to interest-rate policy. While the speech may lower her chances of getting reappointed Fed chair next year, as President Donald Trump has been in favor of reducing regulations, it didn't change investors' expectations that the Fed will continue to slowly raise interest rates and prepare to pare back its $4.5 trillion balance sheet.

The biggest reaction to the speeches may have been in the currency market, where the dollar fell against rivals following Yellen's speech. Gains for the euro also accelerated following Draghi's speech.


The dollar fell to 109.24 Japanese yen from 109.51 yen late Thursday. The euro rose to $1.1888 from $1.1806, and the British pound rose to $1.2880 from $1.2802.

In the stock market, design-software company Autodesk jumped to one of the biggest gains in the S&P 500 after reporting stronger results for the latest quarter than analysts expected. It gained $4.36, or 3.9 percent, to $114.97.

Stocks have been winding up and down since the S&P 500 set a record earlier this month. Stronger-than-expected earnings reports from big U.S. companies have helped to support the market, while worries about politics have intermittently chipped away at confidence.

The S&P 500 climbed 0.7 percent this week, following losses of 0.6 percent and 1.4 percent the last two weeks.

President Trump plans to make a push next week in his efforts to overhaul the tax system, with a stop scheduled in Springfield, Missouri. Tax reform was one of the big pro-business policies that investors were banking on early this year after Republicans swept control of Washington, though expectations have dimmed in recent months.

"The market generally does not believe that anything is going to happen, it's maybe a 20 to 30 percent chance," said Phil Orlando, chief equity market strategist at Federated Investors.

Orlando, though, thinks it's more likely that tax reform will happen, as Republicans look to notch a major win before the 2018 elections.

"Republicans have got to know that if they don't get anything done, they're toast," Orlando said. "This concept of self-preservation is a powerful one, in terms of keeping their jobs."

In overseas markets, Japan's Nikkei 225 index picked up 0.5 percent, the Hang Seng in Hong Kong jumped 1.2 percent and South Korea's Kospi edged up by 0.1 percent. European markets were weaker. The CAC 40 in France fell 0.2 percent, the German DAX dipped 0.1 percent and the FTSE 100 in London lost 0.1 percent.


The yield on the 10-year Treasury fell to 2.17 percent from 2.20 percent late Thursday. The two-year yield held steady at 1.33 percent, and the 30-year yield slipped to 2.75 percent from 2.77 percent.

Benchmark U.S. crude added 44 cents to settle at $47.87 per barrel. Brent crude, the international standard, gained 37 cents to $52.41 per barrel.

Wholesale gasoline was little changed at $1.67 per gallon, heating oil was virtually unchanged at $1.62 per gallon and natural gas fell 6 cents to $2.89 per 1,000 cubic feet.

Gold rose $5.90 to $1,297.90 per ounce, silver rose 9 cents to $17.05 per ounce and copper was little changed at $3.03 per pound.

2262


----------



## bigdog

*British markets were closed for a public holiday.*

https://www.usnews.com/news/busines...mixed-us-storm-sends-gasoline-futures-spiking

*Stocks Are Mixed as Storm Affects Insurers, Energy Companies *

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks finished little changed on Monday as investors focused on the effects of Tropical Storm Harvey. Insurance companies and oil drillers stumbled while refineries rose along with gasoline prices.

With August coming to a close, Monday was one of the quietest days of the year on Wall Street. Biotech drug companies rose after hepatitis C and HIV drug maker Gilead Sciences agreed to buy cancer drug maker Kite Pharma for $11.9 billion. Travel booking website Expedia tumbled as investors expected the company's CEO, Dara Khosrowshahi, to leave the company to become CEO of ride-sharing company Uber.

Lacking other major corporate or economic news, investors mostly focused on Harvey, which continues to hit parts of the Gulf Coast with historically heavy rains. Large parts of the energy and petrochemical industries are based there and companies with a lot of stores in the area stand to lose business. While gas price spikes will be temporary, other effects of the storm will last for years.

"There will be ripple effects that everyone is going to feel," said Jack Ablin, chief investment officer for BMO Capital Markets. He said that could include higher insurance premiums, as the storm is likely to cause tens of billions of dollars in flood damage. Ablin added that the storm might affect interest rates as well, as the Federal Reserve might hesitate to raise interest rates if they think the storm will slow the economy significantly.

The Standard & Poor's 500 index picked up 1.19 points, or less than 0.1 percent, to 2,444.24. The Dow Jones industrial average dipped 5.27 points to 21,808.40. The Nasdaq composite rose 17.37 points, or 0.3 percent, to 6,283.02. The Russell 2000 index of smaller-company stocks gained 4.78 points, or 0.3 percent, to 1,382.23. Most of the stocks on the New York Stock Exchange fell.


The tropical storm, which made landfall in Texas Friday, is expected to continue for days, and the National Weather Service says some parts of Houston and its suburbs could get as much as 50 inches of rain. The weather shut down much of Texas' oil and gas industry, and S&P Global analysts said about 2.2 million barrels per day of refining capacity was down or being shut down by Sunday.

Helmerich & Payne, an oil and gas well drilling contractor, gave up $1.29, or 2.9 percent, to $43.49.

Benchmark U.S. crude fell $1.30, or 2.7 percent, to $46.57 a barrel in New York. Brent crude, the international standard, lost 52 cents, or 1 percent, to $51.89 a barrel in London.

Wholesale gasoline futures rose 5 cents, or 2.7 percent, to $1.71 a gallon, and refining companies climbed, as they stand to benefit from higher gas prices. Marathon Petroleum advanced 80 cents, or 1.5 percent, to $52.52.

Insurance companies declined as investors worried that flooding from Harvey will lead to big losses. Travelers slumped $3.24, or 2.6 percent, to $123.23 and Progressive shed $1.09, or 2.3 percent, to $47.31.

Shoe retailer DSW lost $1.01, or 5 percent, to $19.04. Sporting goods company Finish Line declined 25 cents, or 2.3 percent, to $10.42 and Boot Barn retreated 24 cents, or 2.8 percent, to $8.33. Citi Investment Research analyst Kate McShane noted that all three companies have large numbers of stores in Texas. Some companies that may play a role in cleanup efforts after the storm traded higher. Those included environmental services company Clean Harbors, which rose $1.59, or 3.1 percent, to $52.98.


Gilead Sciences agreed to buy Kite Pharma for $11.9 billion, or $180 a share. Kite is studying treatments that can reprogram a patient's immune cells to attack tumors, and it hopes to win approval this year for a blood cancer treatment. Kite is one of several companies researching CAR-T therapies. Kite Pharma stock jumped $38.95, or 28 percent, to $178.05 and Gilead gained 90 cents, or 1.2 percent, to $74.69.

Gold rose $17.40, or 1.3 percent, to $1,315.30 an ounce, its highest price in 11 months. Silver gained 39 cents, or 2.3 percent, to $17.44 an ounce. Copper picked up 3 cents, or 1 percent, to $3.06 a pound.

In other energy trading, heating oil rose 1 cent to $1.64 a gallon. Natural gas added 3 cents to $2.93 per 1,000 cubic feet.

The euro rose to $1.1979 from $1.1888, and it is now at its highest level since the beginning of 2015. The European currency has been climbing recently because investors feel the European Central Bank isn't going to take steps to keep the euro from getting stronger. That would make exports from European countries more expensive in other markets.

The dollar inched down to 109.09 yen from 109.24 yen late Friday.

Bond prices edged higher. The yield on the 10-year Treasury note slipped to 2.16 percent from 2.17 percent.

The CAC 40 in France fell 0.5 percent and the DAX in Germany sank 0.4 percent. British markets were closed for a public holiday. Japan's benchmark Nikkei 225 index took a negligible loss and the South Korean Kospi lost 0.4 percent. The Hang Seng in Hong Kong rose less than 0.1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...s-fall-rattled-by-north-korean-missile-launch

*Tech and Industrial Companies Lead Stocks Back From Losses *

*After early losses, US stocks are on track to finish higher as the weakening dollar gives technology and industrial companies a lift.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — North Korea's latest missile launch jolted the U.S. stock market Tuesday, but major indexes pulled back from those early losses and mostly finished higher as the weakening dollar gave technology and industrial companies a boost.

Investors bought bonds, which are traditionally considered safe assets, after North Korea fired a midrange ballistic missile that crossed over northern Japan and fell into the Pacific Ocean. It's believed to be the first time the country has sent a missile over Japan, and it seemed designed to show that North Korea can back up a threat to target the U.S. territory of Guam. Energy and insurance companies continued to feel the effects of Tropical Storm Harvey, which is dumping record amounts of rain on the Gulf Coast. The Dow Jones industrial average fell 134 points when the market opened.

"It was a double whammy for investors," said Karyn Cavanaugh, senior market strategist at Voya Investment Strategies. But she said investors are unlikely to sell and remain on the sidelines because much of the global economy is growing in sync. That will help company results.

"Buying on the dips is going to continue as long as earnings continue to move forward because investors know the market is going to continue to follow those earnings," she said.

And investors' fears eased as the day went on. As the dollar declined to two-and-a-half-year lows, companies that do a lot of business outside the U.S. climbed. A weaker dollar boosts their sales and helps their profits when they are converted back into dollars.

The Standard & Poor's 500 index rose 2.06 points, or 0.1 percent, to 2,446.30. The Dow Jones industrial average gained 56.97 points, or 0.3 percent, 21,865.37. The Nasdaq composite added 18.87 points, or 0.3 percent, to 6,301.89. The Russell 2000 index of smaller-company stocks picked up 1.45 points, or 0.1 percent, to 1,383.68. Still, most of the stocks on the New York Stock Exchange fell.


The dollar has weakened in part because a lot of economies in other regions are getting stronger, which boosts their currencies. The dollar is down almost 10 percent in 2017, at its lowest point in more than a year and the euro is at two-year highs.

Defense contractors climbed. Raytheon advanced $3.87, or 2.2 percent, to $182.11. United Technologies and Rockwell Collins rose after the Wall Street Journal reported that the companies are close to a deal. United Technologies, which makes jet engines, elevators and other products, jumped $3.37, or 2.9 percent, to $118.70 and aviation electronics maker Rockwell Collins rose $2.75, or 2.1 percent, to $130.74.

The dollar rose to 109.71 yen from 109.09 while the euro rose to $1.1992 from $1.1979.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.12 percent from 2.16 percent. Lower bond yields translate to lower interest rates, and banks fell as investors expected them to make less money from lending.

The Gulf Coast region continued to absorb heavy rains and widespread flooding, with Tropical Storm Harvey expected to dump even more rain on the region over the next few days. Tens of thousands of people are seeking refuge in shelters.

On Wall Street, insurers continued to fall as investors wondered if they are facing big losses. MetLife fell 84 cents, or 1.8 percent, to $46.73.

Companies that drill for oil in the Gulf or onshore in Texas are falling as investors worry about potential lost production. Anadarko Petroleum gave up 56 cents, or 1.4 percent, to $40.71.


Benchmark U.S. crude gave up 13 cents to $46.44 a barrel in New York. Brent crude, the international standard, picked up 11 cents to $52 a barrel in London. The price of wholesale gasoline jumped another 6 cents, or 4.1 percent, to a two-year high of $1.78 a gallon.

Sporting goods companies tumbled again after Finish Line forecast weak second-quarter results and slashed its forecasts for the rest of the year. The retailer said discounts on shoes are growing, and its stock tumbled $1.92, or 18.4 percent, to $8.50. It was just the latest in a series of dire reports from the industry. Foot Locker, which like Finish Line has taken a 50-percent drop this year, fell 54 cents, or 1.5 percent, to $35.16. Nike gave up $1, or 1.9 percent, to $52.73.

Electronics retailer Best Buy had a solid second quarter and raised its forecasts for the year, but its stock sank after CEO Hubert Joly said he does not think the chain's sales will stay as strong as they were in the most recent quarter. Its shares fell $7.44, or 11.9 percent, to $55.04.

Gold climbed $3.60 to $1,318.90 an ounce and remains at its highest price since late September. Silver lost 2 cents to $17.43 an ounce. Copper rose 2 cents to $3.08 a pound.

In other energy trading, heating oil rose 3 cents to $1.67 a gallon. Natural gas added 4 cents to $2.96 per 1,000 cubic feet.

Germany's DAX slid 1.5 percent and the CAC 40 in France fell 0.9 percent. The FTSE 100 index in Britain lost 0.9 percent. Asian indexes had a smaller reaction. In Japan, the benchmark Nikkei 225 slid 0.5 percent and South Korea's Kospi lost 0.2 percent. In Hong Kong, the Hang Seng shed 0.1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...-higher-as-investors-shrug-off-korea-tensions

* Stocks Climb as Stronger Economic Growth Cheers Investors *

*US stocks rise after the Commerce Department raised its estimate for second-quarter economic growth with technology companies, retailers and travel providers, health care companies and banks leading the way.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks climbed Wednesday as investors cheered a report of stronger economic growth. Technology companies, retailers and travel providers all made solid gains.

The Commerce Department raised its estimate for economic growth and said the U.S. gross domestic product grew at its fastest pace in two years between April and June. Stocks were wobbly at the outset, but investors' concerns about tensions between the U.S. and North Korea appeared to ease and stocks moved higher as the day wore on. Along with technology companies and consumer-focused firms, health care companies and banks finished higher. Big names like Microsoft, Amazon and Facebook made some of the biggest gains.

"For all the tough times we've had the last couple of weeks, the thing that's kept the market afloat is the strong economic data," said Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management. With more economic reports coming over the next few days, Schutte said investors will be looking for evidence of higher pay and greater inflation, and said stocks should keep rising as long as the economy remains in good shape and inflation doesn't pick up.

The Standard & Poor's 500 index climbed 11.29 points, or 0.5 percent, to 2,457.59. The Dow Jones industrial average picked up 27.06 points, or 0.1 percent, to 21,892.43. The Nasdaq composite gained 66.42 points, or 1.1 percent, to 6,368.31 as technology companies rose for the third day in a row. The Russell 2000 index of smaller-company stocks added 7.64 points, or 0.6 percent, to 1,391.32.

The government raised its GDP projection from last month, and the second-quarter estimate is much better than the first quarter, when growth was 1.2 percent. Meanwhile, private businesses added 237,000 jobs in August with broad gains across several industries including construction, manufacturing and leisure and hospitality, according to a survey by payroll processor ADP.


Chipmaker Analog Devices advanced after it announced strong results in the third quarter along with a better-than-expected revenue forecast for the current period. Its stock jumped $4.17, or 5.2 percent, to $83.72. Microsoft gained 96 cents, or 1.3 percent, to $74.01 and Facebook picked up $1.87, or 1.1 percent, to $169.92. Amazon rose $13.53, or 1.4 percent, to $967.59, and Bank of America climbed 41 cents, or 1.7 percent, to $23.87.

Gasoline prices spiked to two-year highs and oil prices continued to fall as the Gulf region was inundated with rain by Tropical Storm Harvey, which has knocked out significant oil drilling and refining capacity. On Tuesday the largest oil refinery in the U.S. was shut down and the operator of a major pipeline carrying fuel to the East Coast said it was running at a reduced rate.

The tropical storm has dumped a record amount of rain on the Gulf Coast. It made landfall again in Louisiana overnight. Authorities say more than 20 people have died in the storm and more than 32,000 people were in shelters in Texas alone.

Wholesale gasoline rose another 10 cents, or 5.7 percent, to $1.88 a gallon. Benchmark U.S. crude lost 48 cents, or 1 percent, to $45.96 a barrel in New York while Brent crude, the international standard, fell $1.14, or 2.2 percent, to $50.86 a barrel in London.

President Donald Trump stumped for tax cuts in an afternoon speech in St. Louis, and while investors want to see taxes come down, Wall Street's reaction was muted.


"Right now expectations are low enough that if anything gets done, Wall Street will cheer it," said Schutte, of Northwestern Mutual.

The Food and Drug Administration approved the first treatment that genetically engineers patients' own blood cells to seek and destroy childhood leukemia. The drug, Kymriah, is made by Novartis, and several other companies are working on similar treatments. They are called CAR-T therapies, and they are being developed for blood cancers and maybe other tumors, too.

The approval wasn't a surprise to investors, and Novartis stock dipped 88 cents, or 1.1 percent, to $82.74. Gilead Sciences rallied, however. Earlier this week the company agreed to buy CAR-T drug developer Kite Pharma for $11.9 billion. Its stock gained $5.49, or 7.2 percent, to $81.23. Juno Therapeutics, which is studying a similar treatment, lost $3.52, or 8 percent, to $40.29.

Bond prices inched lower after a big jump the day before. The yield on the 10-year Treasury note rose to 2.14 percent from 2.13 percent.

In other energy trading, heating oil added 1 cent to $1.67 a gallon. Natural gas lost 4 cents to $2.94 per 1,000 cubic feet.

Gold fell $4.80 to $1,314.10 an ounce. Silver dipped 2 cents to $17.40 an ounce. Copper lost 2 cents to $3.06 a pound.

The dollar rose to 110.36 yen from 109.71 yen. The euro declined to $1.1890 from $1.1992.

European stocks bounced back after several days of losses. Germany's DAX and the French CAC 40 both rose 0.5 percent and FTSE 100 in Britain added 0.4 percent. In Japan, the Nikkei 225 rose 0.7 percent and South Korea's Kospi gained 0.3 percent. Hong Kong's Hang Seng jumped 1.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines...mixed-after-china-factories-wall-street-gains

* US Stocks Jump After Report of Stronger Consumer Spending *
*Led by health care and technology companies and retailers, US stocks make their second strong gain in a row after the Commerce Department said spending by consumers increased in July, along with wages.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks rose again Thursday as investors were pleased with a report that showed spending by U.S. consumers grew in July, along with wages and salaries. Health care and technology companies lead the way and the Nasdaq composite closed at a record high.

The Commerce Department said consumer spending grew at its fastest pace in three months. Companies that sell everything from cosmetics to toys to shoes advanced as investors bet Americans would shop more. Biotech drug companies, drug distributors, and scientific equipment companies made some of the biggest gains in health care. Technology companies advanced for the fourth day in a row and closed at record highs. Gasoline futures continued to spike as Tropical Storm Harvey left large parts of oil drilling and refining and pipelines out of commission.

The Commerce Department said consumer spending rose 0.3 percent in July, the best showing in three months, as wages and salaries increased. Stocks climbed a day ago after the government raised its estimate of second-quarter economic growth. On Friday investors will look at the government's monthly jobs report for data on employment as well as wages.

"The economy is gaining traction, and inflation at this stage is still modest," said Quincy Krosby, chief market strategist at Prudential Financial. That's been good for stocks, as low inflation and low interest rates make stocks more appealing and securities like bonds less appealing.

Krosby added that other news, including a manufacturing survey from China, "helped underpin the notion that it is a global recovery in the economy."

The Standard & Poor's 500 index climbed 14.06 points, or 0.6 percent, to 2,471.65, its highest close in three weeks. That allowed the index to finish August with a tiny gain. The Dow Jones industrial average added 55.67 points, or 0.3 percent, to 21,948.10. The Nasdaq composite gained 60.35 points, or 1 percent, to 6,428.66, above the record high it set in late July. The Russell 2000 index of smaller-company stocks picked up 13.95 points, or 1 percent, to 1,405.28.


Drugmaker Biogen gained $12.83, or 4.2 percent, to a two-year high of $316.58 and Gilead Sciences rose to its highest price in more than a year as it moved up $2.51, or 3.1 percent, to $83.74.

Technology companies, which are trading at record highs, rose for the fourth day in a row. Alphabet, Google's parent company, gained $11.61, or 1.2 percent, to $955.24 and Microsoft picked up 76 cents, or 1 percent, to $74.77.

Among retailers, Amazon gained $13.01, or 1.3 percent, to $980.60. Jewelry seller Tiffany added $3.75, or 4.3 percent, to $91.40. Tool maker Stanley Black & Decker picked up $4.22, or 3 percent, to $144.

After three days of losses linked to Tropical Storm Harvey, benchmark U.S. crude jumped $1.27, or 2.8 percent, to $47.23 a barrel in New York as the rains hitting the Gulf Coast began to abate. Brent crude, used to price international oils, added $1.52, or 3 percent, to $52.38 a barrel in London.

Already at two-year highs, wholesale gasoline prices climbed at an even faster pace as some refining operations and pipelines around the Gulf Coast region remained offline. The price of wholesale gasoline surged 26 cents, or 13.5 percent, to $2.14 a gallon.

Heating oil rose 8 cents, or 5 percent, to $1.76 a gallon and natural gas gained 10 cents, or 3.4 percent, to $3.04 per 1,000 cubic feet.


Campbell Soup skidded to a two-year low after the company said it expects sales to keep falling over the next year as consumers prefer fresh foods over its canned soups and bottled juices. The company forecast a smaller-than-expected annual profit after it reported a weak fourth quarter that included disappointing sales of snack food. Its stock lost $4.05, or 8.1 percent, to $46.20. Competitor Mondelez dropped 97 cents, or 2.3 percent, to $40.66 and Kraft Heinz gave up $1.18, or 1.4 percent, to $80.75. All of those companies have seen their stocks tumble this year.

Discount retailer Dollar General reported a bigger profit and better sales than Wall Street expected, but it said discounts hurt its profit margins. The stock had rallied since early July, but on Thursday it lost $4.17, or 5.4 percent, to $72.56.

The scope of Wells Fargo's fake accounts scandal widened after the bank revealed that 3.5 million accounts may have been opened without customers' permission between 2009 and 2016. That's well above the 2.1 million such accounts the bank disclosed a year ago, when the bank said employees may have opened the accounts because of pressure to meet aggressive sales targets. Wells Fargo stock declined 29 cents to $51.07.

Bond prices moved higher. The yield on the 10-year Treasury note fell to 2.12 percent from 2.13 percent.

Gold rose $8.10 to $1,322.20 an ounce. Silver gained 7 cents to $17.58 an ounce. Copper added 1 cent to $3.10 a pound.

The dollar dipped to 109.98 yen from 110.36 yen. The euro rose to $1.1903 from $1.1890.

Germany's DAX rose 0.4 percent and the French CAC 40 gained 0.6 percent. The British FTSE 100 advanced 0.9 percent. In Tokyo, the Nikkei 225 gained 0.7 percent and Hong Kong's Hang Seng shed 0.4 percent and Seoul's Kospi lost 0.4 percent.


----------



## bigdog

https://www.usnews.com/news/busines...tocks-mostly-higher-after-rise-on-wall-street

* US Stocks Rise as Investors Cheer August Jobs Report *
*US stocks rise for the sixth day in a row after a middling August jobs report confirms investors' view that the Federal Reserve probably won't raise interest rates too quickly.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Not great, but good enough: U.S. stocks rose Friday as investors viewed a relatively weak jobs report for August as likely to help keep interest rates low. Banks, energy companies and automakers led the way.

The Labor Department said U.S. employers added 156,000 jobs in August. That was a bit less than analysts expected, but investors were pleased that the economy kept growing at a steady pace while inflation remains weak. They bet that will keep the Federal Reserve from raising interest rates too quickly. Car companies rose as they reported their August sales. Wall Street expects them to get a boost as Gulf Coast residents replace the hundreds of thousands of cars that have been damaged by rains and flooding this week. Banks rose as bond prices dropped, which sent yields and interest rates higher.

The pattern of slow but steady job gains and weak inflation has helped push stocks higher for years. Investors have worried at times that the Federal Reserve would raise rates too fast and that the economy would stumble.

"The market is looking at economic news that is below expectations as a sign that the Federal Reserve is not going to do much in terms of interest rate hikes," said Scott Wren, senior global equity strategist for Wells Fargo Investment Institute. He said Friday's report was "like almost every other jobs report we've seen over the last four years."

The Standard & Poor's 500 index rose 4.90 points, or 0.2 percent, to 2,475.55. The Dow Jones industrial average gained 39.46 points, or 0.2 percent, to 21,987.56. The blue chip index had its first change in more than two years on Friday, as longtime Dow component DuPont combined with former rival Dow Chemical to form DowDuPont. The Nasdaq composite added 6.67 points, or 0.1 percent, to 6,435.33. It was the best week this year for the Nasdaq as technology and health care companies surged. The index is at record highs.

The Russell 2000 index of smaller-company stocks advanced 8.29 points, or 0.6 percent, to 1,413.57.

Six months ago, stocks made their biggest gain of the year: the S&P 500 jumped 1.4 percent on March 1. The index has gained just 3.3 percent since then.

While businesses continue to hire workers at a steady pace, inflation is well still below the Federal Reserve's target of 2 percent. The Fed has raised interest rates three times in the last year and says it plans to raise rates once more this year, and three times in 2018. But based on reports like Friday's, investors don't think that will happen.

Long-term government bond prices moved lower. The yield on the 10-year Treasury note rose to 2.16 percent from 2.12 percent, but the yield on the two-year note remained at 1.33 percent. Still, the increase in bond yields and interest rates gave banks a boost. JPMorgan Chase rose 81 cents, or 0.9 percent, to $91.70.

General Motors said its sales improved in August, and it gained 82 cents, or 2.2 percent, to $37.36. Car sales declined overall, partly because Hurricane Harvey slowed car buying in Houston, one of the largest U.S. markets. But investors expect that will help sales in the months to come. Ford picked up 32 cents, or 2.9 percent, to $11.35. Fiat Chrysler gained 73 cents, or 7.2 percent, to $61.68.

Benchmark U.S. crude added 6 cents to $47.29 a barrel in New York. Brent crude, which is used to price international oils, fell 11 cents to $52.75 a barrel in London. Wholesale gasoline prices, which have surged this week, declined 3 cents to $1.75 a gallon.

Wholesale gasoline prices have climbed because of rains and flooding in the Gulf Coast. At least two major pipelines have been slowed or stopped, and oil drilling and refining have also been curtailed.

It's not clear how much damage Hurricane Harvey, which is now a tropical depression, will cause to the region or to the U.S. economy. But investors expect at least some companies will benefit: those that will be involved in the cleanup after the flood waters recede. Consulting and engineering services company Tetra Tech climbed 75 cents, or 1.8 percent, to $43.35, for a 7 percent gain this week. Environmental services company Clean Harbors and radioactive and hazardous waste services company U.S. Ecology took small losses Friday, but for the week, Clean Harbors rose almost 5 percent and U.S. Ecology jumped 8.5 percent.

Gold rose $8.20 to $1,330.40 an ounce. Silver jumped 24 cents, or 1.4 percent, to $17.82 an ounce. Copper gained 2 cents to $3.12 a pound.

In other energy trading, heating oil was little changed at $1.75 a gallon. Natural gas rose 3 cents to $3.07 per 1,000 cubic feet.

The dollar rose to 110.24 yen from 109.98 yen. The euro slipped $1.1869 to from $1.1903.

The French CAC 40 gained 0.7 percent, and so did the DAX in Germany. In Britain, the FTSE 100 rose 0.1 percent. Japan's benchmark Nikkei 225 edged up 0.2 percent and the Kospi in South Korea lost 0.2 percent. Hong Kong's Hang Seng was little changed.

2554


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## bigdog

*HOLIDAY USA NYSE ON MONDAY SEPTEMBER 4*







https://www.usnews.com/news/busines...dip-on-jitters-after-north-korea-nuclear-test

* Global Stocks Slip on Concern Over North Korean Nuclear Test *
*Global shares are mostly down on investor jitters over North Korea's nuclear test over the weekend.*

By YURI KAGEYAMA, AP Business Writer

TOKYO (AP) — Global stocks mostly fell on Monday after a nuclear test by North Korea over the weekend raised fears about regional instability and as trading volumes remained thin due to a U.S. holiday.

KEEPING SCORE: France's CAC 40 slipped 0.4 percent to close at 5,103.97 and Germany's DAX lost 0.3 percent to 12,102.21. Britain's FTSE 100 edged down 0.4 percent to 7,411.47. U.S. markets were closed for Labor Day.

NORTH KOREA: North Korea said it successfully tested a hydrogen bomb. U.S. Defense Secretary Jim Mattis responded by saying that the U.S. will answer any threat from the North with a "massive military response — a response both effective and overwhelming." President Donald Trump threatened to halt all trade with countries doing business with North Korea, a warning to China, and faulted South Korea for its "talk of appeasement."

THE QUOTE: "Korean tensions are elevated again," said Chang Wei Liang from the Singapore Treasury Division at Mizuho Bank. "While U.S. Defense Secretary Mattis warned of a 'massive military response' if the U.S. or its allies are threatened, risk-off sentiment this morning is not unduly excessive, largely because markets still do not expect any military escalation in the near-term."

ASIA'S DAY: Japan's benchmark Nikkei 225 edged down 0.9 percent to finish at 19,508.25, while Australia's S&P/ASX 200 lost 0.4 percent to 5,702.00. South Korea's Kospi dipped 1.2 percent to 2,329.65. Hong Kong's Hang Seng slipped 0.9 percent to 27,703.67, but the Shanghai Composite rose 0.4 percent to 3,379.58.

ENERGY: Benchmark U.S. crude gained 18 cents to $47.47 a barrel in electronic trading in New York. It added 6 cents to $47.29 a barrel on Friday. Brent crude, which is used to price international oils, fell 34 cent to $52.41 a barrel in London.


CURRENCIES: The dollar fell to 109.60 yen from 110.04 yen late Friday. The euro rose to $1.1919 from $1.1907.


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## bigdog

https://www.usnews.com/news/busines...dip-on-jitters-after-north-korea-nuclear-test

* Banks, Technology Companies Lead US Stocks Lower *
*Escalating tensions on the Korean peninsula rattled nerves on Wall Street Tuesday, leading to the stock market's worst day in almost three weeks.*

By ALEX VEIGA, AP Business Writer

Escalating tensions on the Korean peninsula rattled nerves on Wall Street Tuesday, leading to the stock market's worst day in almost three weeks.

Bank stocks led the slide as bond yields slumped. Technology stocks, the biggest gainers this year, also pulled the market lower. Energy companies climbed the most as the price of crude oil rose.

Traders also bid up shares in traditional safe-haven investments such as utilities and gold, which climbed to the highest level in more than a year.

"Today the risk-off trade really is North Korea front and center," said Jeff Zipper, managing director of investments at U.S. Bank Private Wealth Management. "Also you have the hurricane last week and the upcoming hurricane, so there's a lot on the plate for the market to digest."

The Standard & Poor's 500 index slid 18.70 points, or 0.8 percent, to 2,457.85. The Dow Jones industrial average slumped 234.25 points, or 1.1 percent, to 21,753.31. The average had been down more than 277 points. The Nasdaq composite lost 59.76 points, or 0.9 percent, to 6,375.57. The Russell 2000 index of smaller-company stocks gave up 13.92 points, or 1 percent, to 1,399.66.

Stocks were coming off back-to-back weekly gains as investors returned from the Labor Day holiday weekend to heightened tensions between the U.S. and North Korea, which conducted its most powerful nuclear test to date on Sunday, triggering U.S. warnings of a "massive military response."

On Tuesday, South Korean warships conducted live-fire exercises at sea. The U.N. Security Council held an emergency meeting and American Ambassador Nikki Haley said North Korean leader Kim Jong Un is "begging for war."

The latest developments fueled anxiety in the markets. The VIX, a measure of how much volatility investors expect in stocks, jumped 20.7 percent to 12.23.


Gold rose $14.10, or 1.1 percent, to $1,344.50 an ounce. That's the highest price since gold hit $1,348.40 an ounce on Sept. 27.

Bond prices also rose. The yield on the 10-year Treasury note fell to 2.06 percent from 2.17 percent late Friday.

The slide in bond yields weighed on shares in banks and other financial companies. Lower bond yields push interest rates on loans lower, hurting banks' profits. XL Group slid $2.35, or 5.8 percent, to $38.27, while Brighthouse Financial lost $3.41, or 5.9 percent, to $54.08. All told, the financial sector fell 2.2 percent Tuesday, the biggest decliner in the S&P 500.

Technology companies also fell sharply. Qualcomm lost $2.02, or 3.9 percent, to $50.03. Nvidia gave up $4.55, or 2.7 percent, to $165.91.

Gains in crude prices helped lift shares in oil producers and other energy industry companies. Helmerich & Payne rose 75 cents, or 1.7 percent, to $43.77. Halliburton added 93 cents, or 2.4 percent, to $39.83.

Benchmark U.S. crude gained $1.37, or 2.9 percent, to settle at $48.66 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, rose $1.04, or 2 percent, to close at $53.38 a barrel in London.

Shares in cruise line operators fell as Hurricane Irma roared toward islands in the northeast Caribbean Tuesday. The Category 5 storm, the most powerful seen in the Atlantic in over a decade, was on a path that could eventually take it to the United States.

Royal Caribbean Cruises slid $5.20, or 4.2 percent, at $119.04, while Carnival declined $2.16, or 3.1 percent, to $66.97. Norwegian Cruise Line shed $1.85, or 3.2 percent, to $56.69.


The dollar declined to 108.66 yen from Monday's 110.24 yen. The euro rose to $1.1918 from $1.1869.

In other energy trading, wholesale gasoline dipped 5 cents to $1.70 a gallon. Heating oil was little changed at $1.75 a gallon. Natural gas slid 10 cents, or 3.2 percent, to $2.97 per 1,000 cubic feet.

Among metals, silver rose 13 cents to $17.94 an ounce, while copper gained 1 cent to $3.13 a pound.

Stock markets overseas were mixed Tuesday.

In Europe, Germany's DAX rose 0.2 percent, while the CAC 40 in France declined 0.3 percent. London's FTSE 100 lost 0.5 percent after a survey of business activity showed a slowdown.

Earlier in Asia, Tokyo's Nikkei 225 fell 0.6 percent and Seoul's Kospi slid 0.1 percent. Hong Kong's Hang Seng added 1.1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...lower-as-caution-prevails-over-security-risks

* Energy Companies Lead Modest Rebound for US Stock Market *


By ALEX VEIGA, AP Business Writer

Energy companies led U.S. stocks to modest gains Wednesday as the market recouped some of its hefty losses from the day before.

Big retailers and health care companies also helped lift the market, which was coming off its worst day in almost three weeks. Utilities and phone companies were the biggest laggards. Some travel booking companies and airlines also fell.

"It's a little bit of a rebound from the sort of dramatic day yesterday after everybody got back from the long holiday weekend at the end of the summer and refocused on the market," said Lindsey Bell, investment strategist at CFRA Research. "We've seen that through the past year, any time we've had some sort of dip, it's a buying opportunity for investors."

The Standard & Poor's 500 index rose 7.69 points, or 0.3 percent, to 2,465.54. The Dow Jones industrial average added 54.33 points, or 0.3 percent, to 21,807.64. The Nasdaq composite gained 17.74 points, or 0.3 percent, to 6,393.31. The Russell 2000 index of smaller-company stocks picked up 2 points, or 0.2 percent, to 1,402.20.

The stock indexes are on pace to end the week lower, but are holding on to gains for the year. The S&P 500 and Dow are both up just over 10 percent. The Nasdaq is up 18.8 percent, while the Russell 2000 has gained 3.3 percent.

The market veered higher from the start of regular trading Wednesday and held its course through much of the day. News that President Donald Trump has agreed to a plan to fund the government and increase the nation's debt limit for three months helped lift the market.

"It reassured the market that Washington is on board with stabilizing its financial responsibilities," Bell said.

Tuesday's market jitters over the heated rhetoric between the U.S. and North Korea appeared to ease somewhat on Wednesday, even as investors monitored Hurricane Irma. The mammoth storm, which made its first landfall in the islands of the northeast Caribbean early Wednesday, seemed almost certain to hit the United States by early next week.


A day after spiking more than 20 percent, the VIX, a measure of how much volatility investors expect in stocks, fell nearly 5 percent on Wednesday. And bond yields, which fell sharply a day earlier, rebounded modestly. The yield on the 10-year Treasury note rose to 2.10 percent from 2.06 percent late Tuesday.

Gold, which climbed Tuesday to the highest level in more than a year, fell $5.50 to $1,339 an ounce Wednesday.

Rising oil prices helped boost energy stocks. Helmerich & Payne rose $2.58, or 5.9 percent, to $46.35. Marathon Oil added 44 cents, or 3.9 percent, to $11.73.

All told, benchmark U.S. crude gained 50 cents, or 1 percent, to settle at $49.16 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, rose 82 cents, or 1.5 percent, to $54.20 a barrel in London.

Investors also bid up shares in several big retailers.

Gap shares surged 7.4 percent after the apparel retailer said it will shift its focus to its growing brands Old Navy and Athleta, and away from the Gap and Banana Republic. The company said that it will close about 200 Gap and Banana Republic stores in the next three years and open about 270 Old Navy and Athleta stores during the same period. The stock added $1.79 to $25.82. Macy's shares also got a boost, adding $1.16, or 5.5 percent, to $22.17.

Kohl's climbed 4.9 percent after the department store chain said it will open Amazon shops in 10 of its stores. Kohl's shares gained $1.98 to $42.37.


The fallout from Hurricane Harvey, which slammed the Gulf Coast of Texas last month, forced Newell Brands to cut its profit forecast, sending its shares lower Wednesday.

The consumer products maker noted that almost all of its resin suppliers with facilities in Texas and Louisiana shut down after that storm hit. Newell's shares gave up $1.69, or 3.5 percent, to $47.03.

United Continental slid 1.3 percent after the airline cut its third-quarter outlook, citing increased fuel costs due to Harvey. The stock fell 77 cents to $60.33.

Several travel booking companies also slid Wednesday.

Trivago tumbled 16.3 percent after the company cut its profit and revenue guidance. The stock lost $2.44 to $12.49. Rivals Expedia and TripAdvisor also fell. Expedia shed $3.22, or 2.2 percent, to $144.39, while TripAdvisor gave up 24 cents, or 0.5 percent, to $44.31.

The dollar rose to 109.37 yen from 108.66 yen Tuesday. The euro fell to $1.1913 from $1.1918.

In other energy trading, wholesale gasoline dipped 3 cents to $1.67 a gallon. Heating oil rose a penny to $1.76 a gallon. Natural added 3 cents to $3 per 1,000 cubic feet.

Among other metals, silver shed 3 cents to $17.91 an ounce, while copper gained 2 cents to $3.15 a pound.

Global stock markets were mixed. In Europe, Germany's DAX gained 0.7 percent, while France's CAC 40 rose 0.3 percent. The FTSE 100 index of leading British shares fell 0.3 percent.

Earlier in Asia, Japan's Nikkei 225 slipped 0.1 percent and South Korea's Kospi lost 0.3 percent. Hong Kong's Hang Seng index fell 0.5 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ixed-markets-weigh-us-debt-deal-korea-tension

*US Stocks End Mixed as Banks Stumble; Health Care Climbs *

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stock indexes finished nearly back where they started Thursday as steep losses for banks and insurance companies were balanced out by gains in health care and technology companies.

Banks skidded as bond yields reached their lowest levels of the year, which sent interest rates down. Insurance companies plunged as investors weighed the prospects of big losses caused by Hurricane Irma, which is hitting the north Caribbean and is projected to reach Florida this weekend. Payment processing companies rose after Mastercard increased its revenue forecasts, while losses for Comcast and Disney hurt media companies.

The economy "is going to suffer a few dents from the storms," said John DeClue, chief investment officer for U.S. Bank Private Wealth Management. But he said the economy "is in remarkably good shape," and that won't change even if damage from hurricanes Harvey and Irma slows economic growth for a few months.

If the storms have a noticeable effect on the economy, he added, that will help make sure the Federal Reserve moves slowly in raising interest rates. That's something investors want to see.

The Standard & Poor's 500 index edged down 0.44 points to 2,465.10. The Dow Jones industrial average dipped 22.86 points, or 0.1 percent, to 21,784.78. The Nasdaq composite rose 4.55 points, or 0.1 percent, to 6,397.87. The Russell 2000 index of smaller-company stocks lost 3.52 points, or 0.3 percent, to 1,398.67. Most of the stocks on the New York Stock Exchange rose.

The dollar fell to a two-and-a-half-year low after the European Central Bank raised its economic growth forecast for the region this year. That made the euro stronger and the dollar weaker.


"The European economy is arguably doing as well as ours, or better," said DeClue.

Insurers slumped as Hurricane Irma cut a path of devastation across the northern Caribbean, leaving at least seven dead and thousands homeless, as well as millions without power. Reinsurance companies fell sharply because many of their policies are for catastrophic losses such as those caused by a hurricane.

XL Group fell $1.97, or 5.1 percent, to $36.48 while Everest Re slid $15.44, or 6.8 percent, to $211.94. Berkshire Hathaway, which owns GEICO and other insurers, slumped $2.80, or 1.6 percent, to $173.90.

The European Central Bank left its key interest rates and bond-purchase stimulus program unchanged, but investors expect the bank to start reducing its stimulus program soon as the European economy continues to improve.

The ICE US dollar index, which measures the dollar's value against a basket of other major currencies, continued to fall. The euro strengthened to $1.2003 from $1.1913 and the dollar fell to 108.65 yen from 109.37 yen.

That helped technology companies, which make most of their sales overseas. Microsoft added 94 cents, or 1.3 percent, to $74.34. The weaker dollar makes U.S.-made products less expensive in other markets and increases company profits when they are converted back into dollars. That's one reason tech companies have done far better than any other S&P 500 sector this year.

AbbVie rose $4.73, or 6.1 percent, to $81.78 and Bristol-Myers gained $2.97, or 5 percent, to $62.84 after the companies reported positive clinical trial results. Eli Lilly climbed $1.03, or 1.3 percent, to $81.54 after it said it will cut 3,500 jobs, or about 9 percent of its total jobs. Biotechnology companies also rallied.


Bond prices climbed and yields fell to their lowest level since November. The yield on the 10-year Treasury note fell to 2.04 percent from 2.11 percent late Wednesday. Lower bond yields are linked to lower rates on loans, and banks took steep losses. Bank of America fell 44 cents, or 1.9 percent, to $22.978 and JPMorgan Chase gave up $1.58, or 1.8 percent, to $88.53.

Gold rose to its highest price in a year as it climbed $11.30 to $1,350.30 an ounce. Silver jumped 21 cents, or 1.2 percent, to $18.12 an ounce. Copper dipped 1 cent to $3.14 a pound.

Cable providers and cable channel operators fell after Comcast said it expects to lose as many as 150,000 video subscribers in the third quarter and that competition has been unusually intense. It said intense storms also contributed to the problem. Comcast dropped $2.57, or 6.2 percent, to $38.60.

Disney fell after CEO Bob Iger said the company's earnings this year will be about the same as the year before, which disappointed analysts. Its stock lost $4.44, or 4.4 percent, to $97.06.

Benchmark U.S. crude fell 7 cents to $49.09 a barrel in New York. Brent crude, used to price international oils, gained 29 cents to $54.49 a barrel in London.

Wholesale gasoline lost 1 cent to $1.66 a gallon. Heating oil rose 3 cents to $1.79 a gallon. Natural gas dipped 2 cents to $2.98 per 1,000 cubic feet.

The German DAX rose 0.7 percent and the CAC 40 in France gained 0.3 percent. The British FTSE 100 rose 0.6 percent. In Asia, Japan's benchmark Nikkei 225 rose 0.2 percent, while South Korea's Kospi jumped 1.1 percent. Hong Kong's Hang Seng index gave up early gains to fall 0.3 percent.


----------



## bigdog

https://www.usnews.com/news/busines...mostly-lower-on-hurricane-north-korea-worries

* US Stocks Waver Again as Energy Companies Fall *
*US stocks finish little changed Friday as technology and energy companies lose ground but banks and insurers regain a chunk of their recent losses.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Technology and energy companies skidded Friday while banks and insurers recovered some of their recent losses, leaving major U.S. indexes little changed on the day and moderately lower for the week.

Credit monitoring company Equifax plunged after it disclosed a data breach that affects 143 million Americans. Competitors TransUnion and Experian also fell, while data security companies like Symantec jumped as investors expected they will get more business.

Grocery stores and food companies slumped as Kroger said stiff competition forced it to cut prices. Target also said it is lowering prices. Technology companies including Apple, Facebook, Intel and chipmakers weakened.

Hurricane Irma continued to devastate islands in the Caribbean. The enormous storm killed at least 21 people, a total that is expected to rise as rescuers continue to search. It also left thousands of people homeless, and more than a million people in Florida and Georgia have been ordered to evacuate. Irma is expected to hit Florida over the weekend with winds surpassing 130 miles per hour.

Experts think the storms will slow down U.S. economic growth in the third quarter. While that's likely to be temporary, David Chalupnik, head of equities at Nuveen Asset Management, said the effect on the stock market could linger because it will be hard for investors to tell how much of any individual company's problems are caused by the weather.

"The next couple of months are going to be pretty cloudy," Chalupnik said. He said insurance companies, cruise lines, and oil refiners based in the Gulf Coast or Southeast could take losses and bad debt at credit card companies will increase, and since the storm will push the Federal Reserve to keep interest rates lower for a bit longer, that will hurt banks by keeping interest rates low on loans.


The Standard & Poor's 500 index lost 3.67 points, or 0.1 percent, to 2,461.43. The Dow Jones industrial average gained 13.01 points, or 0.1 percent, to 21,797.79. The Nasdaq composite dropped 37.68 points, or 0.6 percent, to 6,360.19. The Russell 2000 index of smaller-company stocks rose 0.76 points, or 0.1 percent, to 1,399.43. More stocks fell than rose on the New York Stock Exchange.

Equifax, which hit all-time highs last month, took its biggest one-day loss since 1999 after it said a cyber intrusion exposed Social Security numbers and other information from 143 million Americans between mid-May and late July. Equifax tumbled $19.49, or 13.7 percent, to $123.23. TransUnion fell $1.89, or 3.8 percent, to $47.50 and Experian fell 0.7 percent in London.

Security software company Symantec jumped $1.03, or 3.4 percent, to $31.63 and competitor FireEye rose 24 cents, or 1.5 percent, to $16.01.

Insurer Chubb rose $5.97, or 4.4 percent, to $140.85 and XL Group regained $2.13, or 5.8 percent, to $38.61. Still, investors expect the industry to take steep losses from Irma and Hurricane Harvey. Reinsurance companies, which sell policies that cover catastrophic losses like those caused by storms and floods, are down about 10 percent since early August. Property and casualty insurers have also stumbled.

Grocery store chain Kroger said intense competition with Target and Wal-Mart forced it to cut prices in the second quarter, which hurt its profits. Making matters worse, after the quarter ended Amazon.com completed its purchase of Whole Foods and immediately cut prices on many items. Kroger didn't change its annual forecast, but that projection doesn't account for the hurricanes, which may hurt its sales.


Kroger dropped $1.71, or 7.5 percent, to $21.06. Supervalu fell $1.43, or 6.8 percent, to $19.66. Target shed $1.15, or 2 percent, to $57.27 and Wal-Mart gave up $1.25, or 1.5 percent, to $78.88.

Energy companies fell as benchmark U.S. crude skidded $1.61, or 3.3 percent, to $47.48 a barrel in New York. Brent crude, used to price international oils, lost 71 cents, or 1.3 percent, to $53.78 a barrel in London.

Wholesale gasoline declined 1 cent to $1.65 a gallon. Heating oil fell 2 cents to $1.77 a gallon. Natural gas sank 9 cents, or 3.1 percent, to $2.89 per 1,000 cubic feet.

Bond prices dipped. The yield on the 10-year Treasury rose to 2.06 percent from 2.05 percent. Banks traded a bit higher. They had taken sharp losses on Thursday as bond yields and interest rates dropped.

Gold rose 90 cents to $1,351.20 an ounce. Silver added 1 cent to $18.12 an ounce. Copper retreated 10 cents, or 3.2 percent, to $3.04 a pound.

The dollar fell to 107.79 yen from 108.65 yen on Thursday. The euro strengthened to $1.2028 from $1.2003.

Natural disasters affected markets outside the U.S. as well. Mexico's Bolsa stock index fell 0.7 percent after a powerful earthquake hit near the southern coast. Authorities said least 58 people were killed.

The German DAX picked up 0.1 percent and the FTSE 100 index in Britain lost 0.3 percent. In France, the CAC 40 declined less than 0.1 percent. Japan's benchmark Nikkei 225 slid 0.6 percent after the country's economic growth rate was reduced. Hong Kong's Hang Seng added 0.5 percent and the Kospi in South Korea fell 0.1 percent.

2975


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## bigdog

https://www.usnews.com/news/busines...s-rise-after-north-korea-refrains-from-launch

* US Stocks Set Records as Irma and North Korea Worries Fade *
*US stocks make their biggest gain in four months, led by financial and technology companies, as investors are relieved Hurricane Irma is weakening and didn't cause as much damage as many had feared.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks rallied to record highs Monday as Hurricane Irma weakened without causing as much damage as many had feared, and a North Korean holiday passed without new missile launches. Financial and technology companies lead the way.

Investors were relieved as Irma, which is still deluging Florida and Georgia, didn't appear to be as bad as it did in projections last week. Insurance companies jumped, especially smaller ones that do a lot of business in Florida. So did travel companies. Home improvement retailers fell. Their stocks had climbed recently as investors expected post-storm repairs to boost their business.

Tensions between the U.S. and North Korea have been on investors' minds recently, and on Monday global markets advanced as the situation didn't get any worse. In the U.S., bond prices fell, sending yields higher. That helped bank stocks because rising yields mean banks can charge higher interest rates on loans.

"This is what happens when the market sells off in the face of what is really an awfully good fundamental environment," said Jim Paulsen, chief investment strategist for the Leuthold Group. He said investors are once again focused on strong economic growth in the U.S. and many other regions.

And while a gridlocked federal government hasn't done much to stimulate the economy, Paulsen said the weakening dollar and falling interest rates could give U.S. businesses, especially technology companies, a big boost.

The Standard & Poor's 500 index made its biggest gain since late April as it rose 26.68 points, or 1.1 percent, to finish at a record high of 2,488.11. The Dow Jones industrial average gained 259.58 points, or 1.2 percent, to 22,057.37. The Nasdaq composite jumped 72.07 points, or 1.1 percent, to 6,432.26, three points below the record closing high it set Sept. 1. The Russell 2000 index of smaller-company stocks added 15.40 points, or 1.1 percent, to 1,414.83.


That wiped out a month of losses linked to international tensions as well as worries about the lingering effects of Hurricanes Harvey and Irma, which are expected to slow the U.S. economy over the next few months.

Irma weakened shortly before it came ashore Sunday. It's caused severe flooding and knocked out power to millions. While the damage is still being assessed, insurers climbed Monday as investors anticipate they won't have to pay out as much in claims as it looked like they would just a few days ago.

HCI Group jumped $5.38, or 17.5 percent, to $36.15 while Heritage Insurance gained $2.02, or 21.6 percent, to $11.39. Larger insurers also rallied. Reinsurance company XL Group advanced $1.94, or 5 percent, to $40.55 and Travelers gained $2.80, or 2.3 percent, to $122.56.

Investors also expected that travel-related companies won't take such a big hit from the storm. Royal Caribbean Cruises jumped $4.24, or 3.6 percent, to $121.69 and American Airlines gained $2.26, or 5.2 percent, to $45.86. Travel booking site Priceline rose $30.29, or 1.6 percent, to $1,868.86.

Investors' sense of relief also pushed orange juice futures a little lower. Futures had risen to $1.54 a pound Friday from $1.30 at the end of August and slipped to $1.51 a pound Monday.

North Koreans observed the 69th anniversary of the country's founding, but did not test another intercontinental ballistic missile, as South Korea's government had warned it might.


Bond prices sank. The yield on the 10-year Treasury note rose to 2.13 percent from 2.05 percent. Banks rose, as JPMorgan Chase gained $1.37, or 1.5 percent, to $89.79 and Fifth Third Bancorp added 60 cents, or 2.4 percent, to $25.70.

In another sign investors were willing to take more risks, gold lost $15.50, or 1.1 percent, to $1,335.70 an ounce. Silver fell 22 cents, or 1.2 percent, to $17.90 an ounce.

Technology companies helped lead the way. Apple, which will unveil its newest iPhone on Tuesday, rose $2.30, or 1.4 percent, to $160.93 and Facebook rose $2.35, or 1.4 percent, to $173.30. Microsoft added 66 cents to $74.65 and Mastercard rose $4.36, or 3.2 percent, to $141.58.

Home improvement retailers fell. They climbed last week after investors anticipated their business could pick up as homeowners were affected by the storm. Home Depot dropped $1.29 to $158.37 and Lowe's declined $1.06, or 1.3 percent, to $77.50.

Benchmark U.S. crude rose 59 cents, or 1.2 percent, to $48.07 a barrel in New York while Brent crude, used to price international oils, added 6 cents to $53.84 a barrel in London.

Wholesale gasoline lost 1 cent to $1.63 a gallon. Heating oil fell 2 cents to $1.74 a gallon. Natural gas rose 6 cents to $2.95 per 1,000 cubic feet.

In other commodities trading, copper added 2 cents to $3.07 a pound.

The dollar rose to 109.34 yen from 107.79 yen late Friday. The euro slid to $1.1962 from $1.12028.

Germany's DAX gained 1.4 percent and the French CAC 40 rose 1.2 percent. The FTSE 100 index in Britain picked up 0.5 percent. The benchmark Nikkei 225 index in Japan jumped 1.4 percent as the yen slipped, which eased pressure on exporters. The Kospi in South Korea advanced 0.7 percent and Hong Kong's Hang Seng added 1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...tly-rise-as-irma-and-north-korea-worries-fade

* Gains for Banks and Retailers Take Stocks to Record Highs *
*US stock indexes finish at record highs as banks climb along with bond yields. Retailers rise after the Labor Department says job openings increased in July.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks rose to record highs Tuesday as banks kept rising and retailers climbed after some encouraging job data.

It was the second straight day for big gains in bank stocks as bond yields pushed higher, which allows banks to charge higher rates on loans. Retailers rose after the Labor Department said job openings and hiring both grew in July, and more people quit their jobs to take new ones. That left investors hopeful people will shop and spend more.

Chemicals company DowDuPont climbed after making changes to its breakup plans, something activist investors had pushed for. Apple's newest iPhones didn't generate much excitement on Wall Street.

The bond market is "moving back to a comfort zone," said Matt Toms, the chief investment officer for Voya Investment Management's fixed income business. "Just enough growth, just enough inflation, but not too much of either."

The Standard & Poor's 500 index rose 8.37 points, or 0.3 percent, to 2,496.48. The Dow Jones industrial average gained 61.49 points, or 0.3 percent, to 22,118.86. The Nasdaq composite picked up 22.02 points, or 0.3 percent, to 6,454.28.

The S&P 500 finished at a record Monday and the Dow finished a fraction of a point above the record it set in early August. The Nasdaq surpassed the record it set on Sept. 1.

The Russell 2000 index of smaller companies got a bigger boost from the job openings report and jumped 8.64 points, or 0.6 percent, to 1,423.46.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.16 percent after it jumped to 2.13 percent Monday. That helped banks. Bank of America added 59 cents, or 2.5 percent, to $23.95 while Citizens Financial Group gained $1.02, or 3 percent, to $34.48. Companies that pay big dividends like utilities and real estate investment trusts didn't do as well as the rest of the market, as income-seeking investors were drawn to bonds.


Stocks were coming off their best day since late April. They rose Monday as Hurricane Irma weakened without doing as much damage as some forecasts had predicted last week. Investors were also relieved that tensions between the U.S. and North Korea didn't get any worse following a national holiday there.

DowDuPont, which was formed when two of the world's largest chemical companies combined in August, made some changes to its breakup plan after pressure from activist investors. DowDuPont will ultimately break up into three public companies. One will focus on agriculture, one on material science and one on specialty products. Tuesday's changes concern the latter two companies.

DowDuPont gained $1.67, or 2.5 percent, to $68.52.

Job openings posted by U.S. employers rose 0.9 percent to 6.2 million in July, the Labor Department said. That's highest on records dating to 2000. Hiring also increased and more people quit their jobs, which often means they are leaving for jobs that pay better. That helped smaller, domestically-focused companies and retailers. Gap jumped $1.67, or 6.4 percent, to $27.61 and Victoria's Secret parent L Brands advanced $1.46, or 3.9 percent, to $39.36.

Apple's stock gyrated as the company announced its newest iPhones and updates to other products. The new iPhone 8 will be able to shoot pictures with better colors and less distortion, particularly in low-light settings, and it will be out Sept. 22. The iPhone X has an edge-to-edge screen and can be unlocked with facial recognition, but won't go on sale until Nov. 3.


The iPhone is the source of most of Apple's revenue, and some investors have been worried that supply constraints will slow down its sales. Apple was down early in the day, climbed as much as 1.5 percent as it made its announcements, and then wound up with a loss of 64 cents to $160.86.

Energy companies traded higher as benchmark U.S. crude added 16 cents to $48.23 a barrel in New York. Brent crude, the standard for international oil prices, gained 43 cents to $54.27 a barrel in London.

Wholesale gasoline rose 2 cents to $1.66 a gallon. Heating oil remained at $1.74 a gallon. Natural gas climbed 5 cents to $3 per 1,000 cubic feet.

Gold lost $3 to $1,332.70 an ounce. Silver dipped 1 cent to $17.89 an ounce. Copper fell 3 cents to $3.04 a pound.

The dollar rose to 110.11 yen from 109.34 yen. The euro edged up to $1.1970 from $1.1962. The British pound climbed to $1.3293 from $1.3173, its highest level in a year. That move came after inflation figures came in stronger than analysts expected, which left investors thinking the Bank of England may raise interest rates sooner than they had anticipated.

Germany's DAX rose 0.4 percent while the CAC 40 in France gained 0.6 percent. The British FTSE 100 slipped 0.2 percent. In Japan, the Nikkei 225 gained 1.2 percent as the yen weakened again. South Korea's Kospi edged up 0.3 percent and the Hang Seng of Hong Kong was little changed.


----------



## bigdog

https://www.usnews.com/news/busines...-mostly-higher-after-wall-street-record-highs

* Retailers and Energy Companies Lead US Stocks a Bit Higher *
*U.S. stock indexes finished with tiny gains Wednesday as retailers jumped after a strong hiring forecast from Target and energy companies rose along with oil prices.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stock indexes finished with tiny gains Wednesday as retailers jumped after a strong hiring forecast from Target and energy companies rose along with oil prices.

Companies that sell everything from clothing to electronics rose after Target said it will hire 100,000 workers for the holiday season, about 30,000 more than it did a year ago. Energy companies rose after the U.S. government said oil and gasoline stockpiles shrank last week. Those gains were almost canceled out as technology and health care companies, which have led the market higher this year, slipped.

With stocks at record highs, investors hunted for bargains. Retailers and energy and telecommunications companies have all struggled this year and finished higher Wednesday.

One reason stocks may have held steady: the Federal Reserve will meet next week, and along with the usual questions about interest rates and the Fed's balance sheet, investors are wondering about the central bank's leadership. Fed Chair Janet Yellen's four-year term will end in February and it's not clear if President Donald Trump will re-appoint her or replace her.

"There are factions of the Fed, as well as potential Fed chair candidates, that are less focused on market reactions and will be more focused on the need to raise rates from their current levels to offset a future recession," said Eric Freedman, chief investment officer for U.S. Bank Wealth Management.

Freedman said Yellen has made a priority of informing Wall Street about the Fed's plans and taking investor reactions into account. A different Fed chair might not do that, which could lead to a bumpier ride for stocks.

The Standard & Poor's 500 index added 1.89 points, or 0.1 percent, to 2,498.37. The Dow Jones industrial average picked up 39.32 points, or 0.2 percent, to 22,158.18. The Nasdaq composite rose 5.91 points, or 0.1 percent, to 6,460.19. The Russell 2000 index of smaller-company stocks gained 3.43 points, or 0.2 percent, to 1,426.89.


Target said it plans to hire 100,000 workers for the holidays, some 30,000 more than it hired a year ago. Its stock climbed $1.62, or 2.8 percent, to $59.51. Best Buy rose $1.81, or 3.2 percent, to $58.60 and Gap gained 61 cents, or 2.2 percent, to $28.22. Video game seller GameStop added 49 cents, or 2.5 percent, to $20.02 and Amazon.com rose $17.02, or 1.7 percent, to $999.60.

Department store chain Nordstrom climbed after CNBC reported that the Nordstrom family is close to a deal to take the company private. The stock has risen over the last three months following talk that company executives and other descendants of co-founder John Nordstrom might buy the 70 percent of the company they don't already own. The stock gained $2.69 cents, or 6 percent, to $47.74.

Hard drive maker Western Digital slumped $3.04, or 3.4 percent, to $85.74 after its partner Toshiba said it will sell its computer memory business to a consortium led by Bain Capital Private Equity. Western Digital wants to buy that business and has filed a lawsuit to stop Toshiba from selling it to anyone else. Toshiba is trying to offset losses by its Westinghouse Electric nuclear business, which filed for bankruptcy protection in March.

Energy companies rose as benchmark U.S. crude rose $1.07, or 2.2 percent, to $49.30 a barrel in New York. Brent crude, used to price international oils, added 89 cents, or 1.6 percent, to $55.16 a barrel in London.


Credit bureau Equifax hit an 18-month low in heavy trading. The company disclosed Thursday that personal data of about 143 million Americans was compromised in a cyberattack. Equifax has been sharply criticized by Congress, state governments and consumers. The stock dropped another $16.97, or 14.6 percent, to $98.99. It traded above $142 last week before news of the attack broke.

Medicaid program administrator Centene said it will expand into New York through a $3.75 billion acquisition of Fidelis Care. Its stock jumped $7.28, or 8 percent, to $98.16. Centene has expanded into several states in the past year through the Affordable Care Act's exchanges.

Apple slipped again. Investors appeared worried about the $999 price tag of the tenth-anniversary iPhone X as well as its later launch date in early November. That could affect Apple's revenue in the next few quarters. Investors seemed to like some of Apple's plans Tuesday, including new features that are being added to the Apple Watch. The stock lost $1.21 to $159.65.

Bond prices edged higher. The yield on the 10-year Treasury note rose to 2.19 percent from 2.17 percent.

In other energy trading, heating oil rose 3 cents to $1.77 a gallon and wholesale gasoline lost 1 cent to $1.65 a gallon. Natural gas climbed 6 cents to $3.06 per 1,000 cubic feet.

Gold lost $4.70 to $1,328 an ounce. Silver declined 2 cents to $17.87 an ounce. Copper fell 6 cents to $2.98 a pound.

The dollar rose to 110.66 yen from 110.11 yen. The euro fell to $1.1873 from $1.1970.

The German DAX and CAC 40 in France both rose 0.2 percent. London's FTSE 100 index declined 0.1 percent. In Tokyo, the Nikkei 225 rose 0.4 percent. Hong Kong's Hang Seng declined 0.3 percent and the Kospi in South Korea shed 0.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines...n-markets-fall-after-disappointing-china-data

* Dow Ekes Out Another Record Even as Other Indexes Struggle *
*It was a split decision on Wall Street as gains in a handful of industrial and health care companies largely outweighed sluggishness elsewhere in the market, including the technology sector.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — It was a split decision on Wall Street on Thursday as gains in a handful of industrial and health care companies largely outweighed sluggishness elsewhere in the market, including the technology sector.

Sizable gains by Boeing and United Technology were enough to push the Dow Jones industrial average to another record, but other major indexes fell.

Retailers were also weak after the government said prices paid by consumers jumped in August. That could prompt the Federal Reserve to raise interest rates sooner than expected in order to cool the economy and stave off inflation. That would be bad for companies like retailers that depend on shoppers spending money.

Energy companies rose as U.S. crude oil climbed to its highest price in six weeks.

The Standard & Poor's 500 index slid 2.75 points, or 0.1 percent, to 2,495.62. The Dow Jones industrial average rose 45.30 points, or 0.2 percent, to 22,203.48. It was the Dow's third straight record high close.

The Nasdaq composite slumped 31.10 points, or 0.5 percent, to 6,429.08 as big names like Facebook and Alphabet, Google's parent company, lost ground. The Russell 2000 index of smaller-company stocks fell 1.87 points, or 0.1 percent, to 1,425.02.

On the New York Stock Exchange, there were slightly more winners than losers.

The Labor Department reported that U.S. consumer prices grew 0.4 percent in August as gas and housing costs rose. Prices are up 1.9 percent over the last year. That could show inflation is speeding up, though it's not clear how much of the recent increase in gas prices was due to Hurricane Harvey, which deluged the Gulf Coast region in late August and caused many drilling rigs and refineries to shut down.


The Federal Reserve will meet next week and investors wondered if Thursday's report makes it more likely the Fed will raise interest rates later in the year. Higher interest rates reduce growth because they make borrowing more expensive.

Michael Scanlon, a portfolio manager for Manulife Asset Management, said if inflation does get stronger over the next few months, "it would be a sign of more health in the economy overall," he said.

Urban Outfitters fell 77 cents, or 3.3 percent, to $22.77 and discount retailer Ross Stores lost 81 cents, or 1.3 percent, to $60.60. Amazon shed $7.39 to $992.21. Coca-Cola lost 38 cents to $46.11 and grocery store operator Kroger fell 47 cents, or 2.2 percent, to $21.26.

Jewelry seller Tiffany dropped $4.56, or 4.8 percent, to $90.95 after one of its biggest shareholders, Qatar's investment fund, said it sold some of its Tiffany stock.

Boeing rose another $3.30, or 1.4 percent, to $245.23. Wednesday afternoon, CEO Dennis Muilenburg said the company expects to start delivering more planes. The stock rose 0.6 percent a day ago. Other industrial companies also climbed. United Technologies gained $2.86, or 2.6 percent, to $113.14.

Benchmark U.S. crude oil rose 59 cents, or 1.2 percent, to $49.89 a barrel. That was its highest closing price since the end of July. Brent crude, used to price international oils, gained 31 cents to $55.47 barrel in London.

Among energy companies, Schlumberger rose 78 cents, or 1.2 percent, to $67.70 and Anadarko Petroleum picked up 40 cents to $43.53.

Chipmaker Lattice Semiconductor slipped after the U.S. government stopped its sale to a firm backed by the Chinese government because of national security concerns. Lattice accepted the $1.02 billion offer from Canyon Bridge Partners in November, but investors have long been skeptical the deal would be completed. Last week a U.S. government panel said the sale should be blocked.


Lattice wobbled between gains and losses and finished 2 cents lower at $5.70. Canyon Bridge agreed to pay $8.30 a share.

The Bank of England kept its key interest rate at a record low but indicated that it could start raising rates sooner than markets have been expecting. That sent the pound higher and British stocks lower. A stronger pound would hurt the earnings of British companies that do a lot of business overseas.

Britain's FTSE 100 fell 1.1 percent while the French CAC 40 rose 0.1 percent and Germany's DAX fell 0.1 percent.

Investors in Asia were disappointed after China's National Bureau of Statistics said the world's second-largest economy grew at a slower pace in August. The Japanese Nikkei 225 fell 0.3 percent and Hong Kong's Hang Seng index fell 0.4 percent. The Kospi in South Korea gained 0.7 percent.

Bond prices edged lower. The yield on the 10-year Treasury note rose to 2.20 percent from 2.19 percent. The yield on the 2-year note rose to 1.37 percent from 1.35 percent.

In other energy trading, wholesale gasoline fell 2 cents to $1.63 a gallon. Heating oil added 1 cent to $1.78 a gallon. Natural gas rose 1 cent to $3.07 per 1,000 cubic feet.

Gold rose $1.30 to $1,329.30 an ounce. Silver dropped 8 cents to $17.79 an ounce. Copper lost 2 cents to $2.96 a pound.

The dollar slid to 110.54 yen from 110.66 yen. The euro rose to $1.1914 from $1.1873. The pound jumped to $1.3398 from $1.3197.


----------



## bigdog

https://www.usnews.com/news/busines...ixed-after-north-koreas-latest-missile-launch

* S&P 500 Tops 2,500 Mark as Tech and Bank Stocks Climb *
*US stocks set records as banks and technology companies make further gains.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks edged higher Friday as technology companies and banks rose. The Standard & Poor's 500 index closed above 2,500 for the first time as stocks had one of their best weeks this year.

Stocks wobbled in early trading after the Commerce Department said retail sales slipped in August and the Federal Reserve said industrial production dropped last month, mostly because of Hurricane Harvey. But big names like Apple and Boeing took the market higher. Stocks made big gains Monday and as Hurricane Irma weakened, and they didn't do too much after that, but still wound up with their biggest weekly gain since the beginning of January.

Rick Rieder, the chief investment officer for BlackRock's global fixed income business, said retail sales and inflation have been weak because technological changes keep reducing the prices of clothes, food, travel, and phone plans. That lowers measurements of sales revenue, like the one the government released Friday, but Rieder said they keep people buying — even though the same technological changes can also lower people's wages.

"We get everything cheaper than we used to because of the internet and delivery mechanisms," he said. "The price is coming down so quickly that it's helping demand."

The Standard & Poor's 500 index gained 4.61 points, or 0.2 percent, to a record 2,500.23. The Dow Jones industrial average rose 64.86 points, or 0.3 percent, to 22,268.34, its fourth record close in a row. The Nasdaq composite added 19.38 points, or 0.3 percent, to 6,448.47. The Russell 2000 index of smaller-company stocks picked up 6.69 points, or 0.5 percent, to 1,431.71.

Industrial production in the U.S. fell 0.9 percent in August, the biggest drop in eight years, as Harvey knocked numerous oil refining, plastics and chemicals factories out of business for a time. Many of those factories are based in the Gulf Coast region that Harvey hit. The Federal Reserve said the weather and flooding was responsible for almost all of the loss.


Apple picked up $1.60, or 1 percent, to $159.88 after three days of declines. Chipmaker Nvidia jumped $10.71, or 6.3 percent, to $180.11 and hard drive maker Western Digital gained $2.73, or 3.2 percent, to $88.52.

However shares of software maker Oracle absorbed their biggest loss in four years. The company's first-quarter profit and sales were better than investors expected, but analysts were concerned about forecasts for its cloud computing business. Oracle lost $4.05, or 7.7 percent, to $48.74.

Boeing rose $3.77, or 1.5 percent, to $249 as the aerospace company continued to set record highs. Its stock is up 60 percent in 2017.

Stocks in the U.K. slumped to a four-month low and the pound rose to its highest level since mid-2016, after Bank of England officials confirmed they are close to raising interest rates for the first time in a decade. The first step could happen as soon as November. Many companies on the British FTSE 100 are multinationals whose overseas earnings are diminished in value when the pound appreciates against other currencies.

The pound surged to $1.3571 from $1.3398, its highest since mid-2016. The FTSE 100 fell 1.1 percent after a 1.1-percent loss Thursday.

U.K. stocks did not appear to be affected by a bomb attack on a London subway train. Police said an improvised explosive device hurt more than 20 people, but none of the injuries appeared to be life-threatening.


Credit monitoring companies continued to fall as Senate Democrats introduced a bill that would prevent the companies from charging fees to consumers who want their credit frozen. In many states, the companies collect fees in return for freezing accounts.

Some consumers have chosen to freeze their credit after Equifax said the personal information of 143 million Americans was exposed after a breach of its systems. Those consumers are trying to prevent identity thieves from using their information to open fraudulent accounts.

Equifax fell $3.68, or 3.8 percent, to a two-year low of $92.98. The stock began plunging last Friday after the company disclosed the breach, and this week it took its biggest weekly loss since tend of 1998. Rival TransUnion lost $1.47, or 3.4 percent, to $41.61 and Experian fell 0.9 percent in London.

Bond prices dipped. The yield on the 10-year Treasury note rose to 2.20 percent from 2.19 percent. Interest rates also rose, which helped banks, as they stand to make more money from lending.

U.S. crude oil finished unchanged at $49.89 a barrel in New York. It's at its highest price since the end of July. Brent crude, the standard for international oil prices, gained 15 cents to $55.62 a barrel in London.

Wholesale gasoline rose 3 cents to $1.66 a gallon. Heating oil added 2 cents to $1.80 a gallon. Natural gas fell 5 cents to $3.02 per 1,000 cubic feet.

Gold fell $4.10 to $1,325.20 an ounce. Silver sank 9 cents to $17.70 an ounce. Copper lost 1 cent to $2.95 a pound.

The dollar advanced to 110.88 yen from 110.54 yen. The euro rose to $1.1938 from $1.1914.

Germany's DAX lost 0.2 percent and France's CAC 40 sagged 0.2 percent. Japan's benchmark Nikkei 225 index added 0.5 percent. South Korea's Kospi recouped initial losses to end 0.4 percent higher. Hong Kong's Hang Seng edged up 0.1 percent.

3235


----------



## bigdog

https://www.usnews.com/news/busines...arkets-rise-ahead-of-trump-speech-fed-meeting

* Banks Lead US Stocks Modestly Higher; Oil Prices Slide *
*Banks and other financial companies led U.S. stocks modestly higher Monday, nudging the stock market to another record high.*

By ALEX VEIGA, AP Business Writer

Banks and other financial companies led U.S. stocks modestly higher Monday, nudging the stock market to another record high.

The Standard & Poor's 500 index and Dow Jones industrial average closed at new highs as the market extended its gains from last week.

Investors continued to bid up bank shares as interest rates rose. Banks benefit from higher rates, which can translate into higher profits from lending money.

The rise in bond yields also weighed on utilities, real estate companies and other bond proxies. Big retailers like Amazon.com were among the biggest decliners.

"This is really a day which is characterized by rates moving and equities being influenced by interest rates," said Bill Northey, senior vice president with U.S. Bank Wealth Management.

The S&P 500 index rose 3.64 points, or 0.1 percent, to 2,503.87. The Dow gained 63.01 points, or 0.3 percent, to 22,331.35. Both indexes closed at record highs on Friday.

The Nasdaq composite added 6.17 points, or 0.1 percent, to 6,454.64. The Russell 2000 index of smaller-company stocks picked up 9.37 points, or 0.7 percent, to 1,441.08.

Trading was subdued through much of the day as the major indexes mostly held on to slight gains.

Investors were looking ahead to the latest two-day policy meeting of the U.S. Federal Reserve, which begins Tuesday. Forecasters expect the Fed to leave interest rates unchanged and stick to plans to raise rates in December. But traders will be listening for any indications that the central bank could move sooner on a rate increase and for details on the timing for when the Fed might start shrinking its multitrillion-dollar stockpile of bonds.

"Rates have started to move higher and rate-sensitive sectors have started to respond favorably," said Northey, noting that the funds futures market suggests that there is now a two-in-three chance that the Fed will raise interest rates again before the end of the year, up from a one-in-three chance earlier.


Traders sent bond prices lower as the yield on the 10-year Treasury note rose to 2.23 percent from 2.20 percent late Friday. The yield on the 2-year treasury note climbed to 1.40 percent from 1.38 percent.

Citigroup was among the big banks to post gains. The stock added $1.56, or 2.3 percent, to $70.60, while Wells Fargo & Co. rose $1.05, or 2 percent, to $52.71.

Industrials stocks were also big gainers, led by defense contractor Northrop Grumman, which agreed to buy aerospace manufacturer Orbital ATK for $7.8 billion. Shares in Northrop rose $8.94, or 3.3 percent, to $275.97. Orbital soared $22.21, or 20.2 percent, to $132.25.

Investors also cheered another corporate combination.

Silver Spring Networks surged 23.8 percent after the energy networking platform provider agreed to be acquired by Itron in a deal the companies valued at $830 million. Silver Spring shares gained $3.10 to $16.10. Itron climbed $3.70, or 5.1 percent, to $76.50.

Several big retailers were down sharply, including Amazon.com, which slid $12.60, or 1.3 percent, to $974.19.

Toy makers Mattel and Hasbro slumped following published reports saying that Toys R Us may file for bankruptcy protection before this holiday season. Mattel lost 99 cents, or 6.2 percent, to $14.87, while Hasbro fell $1.60, or 1.7 percent, to $93.24.

Energy futures were mixed.

Benchmark U.S. crude rose 2 cents to settle at $49.91 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, dropped 14 cents to $55.48 a barrel in London. Wholesale gasoline rose 1 cent to $1.67 a gallon. Heating oil fell 2 cents to $1.78 a gallon. Natural gas jumped 12 cents, or 4 percent, to $3.15 per 1,000 cubic feet.


Gold fell $14.40, or 1.1 percent, to $1,310.80 an ounce. Silver slumped 55 cents, or 3.1 percent, to $17.16 an ounce. Copper added 2 cents to $2.97 a pound.

The dollar rose to 111.47 yen from 110.88 yen on Friday. The euro strengthened to $1.1953 from $1.1938.

Global stock markets closed mostly higher.

In Europe, Germany's DAX rose 0.3 percent, while France's CAC 40 gained 0.3 percent. London's FTSE 100 added 0.5 percent. In Asia, Hong Kong's Hang Seng added 1.3 percent, while Seoul's Kospi gained 1.3 percent. Sydney's S&P-ASX 200 rose 0.4 percent. Japanese markets were closed for a holiday.


----------



## bigdog

https://www.usnews.com/news/busines...-mixed-as-nikkei-rises-on-yen-muted-elsewhere

* Slight Gains in US Stocks Lift Dow, S&P, Nasdaq to New Highs *
*Wall Street capped a day of mostly listless trading with a slight gain, good enough to lift the major U.S. stock indexes to another set of all-time highs.*

By ALEX VEIGA, AP Business Writer

Wall Street capped a day of mostly listless trading Tuesday with a slight gain, good enough to lift the major U.S. stock indexes to another set of all-time highs.

Banks, insurers and other financial companies led the gainers. Technology companies also helped lift the market. Health care stocks lagged the most, pulling down insurers, hospital operators and other companies as a Republican effort to repeal President Barack Obama's health care bill appeared to gain momentum. Oil prices fell.

Trading was subdued overall as investors looked ahead to Wednesday, when the Federal Reserve was expected to deliver an update on the central bank's view of the economy and the timing of its plans to raise interest rates and shrink its bond holdings.

"People are still, as they usually are the day before a Fed announcement, kind of in a wait-and-see mode," said Lindsey Bell, investment strategist at CFRA Research.

The Standard & Poor's 500 index rose 2.78 points, or 0.1 percent, to 2,506.65. The index, regarded as the broadest measure of the stock market, has hit a record high three days in a row.

The Dow Jones industrial average gained 39.45 points, or 0.2 percent, to 22,370.80. The average is on a six-day streak of new highs.

The Nasdaq composite added 6.68 points, or 0.1 percent, to 6,461.32. The tech-heavy index also notched a new high, its first since last Wednesday.

The Russell 2000 index of smaller-company stocks declined 0.68 points, or 0.1 percent, to 1,440.40.

The major stock indexes wavered in early trading, but recovered to hold their small gains by afternoon. Investors sized up new economic data that showed the pace of U.S. home construction slowed in August due to a steep drop in apartment construction. A separate report on business confidence showed CEO optimism reached its highest level since early 2014.


Mostly, though, investors were focused on what the Fed will have to say on Wednesday.

Forecasters expect the Fed to leave interest rates unchanged and stick to plans to raise rates in December. But traders will be listening for word on whether the central bank is ready to begin shrinking its multitrillion-dollar stockpile of bonds.

Such a move would allow the Fed to effectively raise interest rates without touching its key short-term rate, known as the federal funds rate, said Phil Blancato, CEO of Ladenburg Thalmann Asset Management.

"That's the most important aspect here," Blancato said. "That does have an impact on the bond market, and you see the bond market going slightly higher here over the last two days."

Bond prices fell Tuesday, sending the yield on the 10-year Treasury note up to 2.24 percent from 2.23 percent late Monday.

Speculation that the Fed will announce plans to unwind its bond portfolio helped lift shares in banks and other financial companies. Such a move by the Fed would likely push long-term interest rates up. Banks benefit from higher rates, which can translate into higher profits from lending money. U.S. Bancorp added 78 cents, or 1.5 percent, to $53.16. Wells Fargo & Co. rose 65 cents, or 1.2 percent, to $53.36.

Progressive gained 2.9 percent after the insurer reported lower-than-expected losses from Hurricane Harvey. The company is the second insurer to report losses related to the hurricane, which battered Texas and Louisiana last month, that were far less than financial analysts expected. Progressive shares rose $1.32 to $47.63.


Technology stocks were also among the big movers. The sector is the biggest gainer this year, up 26 percent. NetApp climbed $1.08, or 2.7 percent, to $41.71.

Several health insurers and hospital operators were trading lower after top Senate Republicans said Tuesday that their last-ditch effort to overhaul the Affordable Care Act is gaining momentum.

Envision Healthcare sank $4.56, or 9.6 percent, to $43.11. Humana slid $8.41, or 3.4 percent, to $240.04. Centene, which administers Medicaid programs and sells health plans to the ACA's exchanges, lost $4.80, or 5.1 percent, to $89.78.

Investors welcomed news that Post Holdings, maker of cereals such as Honey Bunches of Oats and Fruity Pebbles, agreed to acquire Bob Evans Farms in a deal worth about $1.53 billion.

Shares in Bob Evans, a maker of refrigerated side dishes, gained $4.48, or 6.1 percent, to $77.41. Post added 52 cents, or 0.6 percent, to $86.36.

Traders were less enthused by word that the Federal Trade Commission signed off on a deal for Walgreens Boots Alliance to buy 2,186 Rite Aid stores for $5.19 billion. That amounts to a much smaller deal than the companies originally sought when Walgreens pushed to buy Rite Aid. The companies abandoned that deal following opposition from regulators. Rite Aid shares lost 33 cents, or 12.1 percent, to $2.40. Walgreens slid $1.39, or 1.7 percent, to $81.21.

Energy futures closed lower.

Benchmark U.S. crude fell 43 cents, or 0.9 percent, to settle at $49.48 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, gave up 34 cents, or 0.6 percent, to close at $55.14 a barrel in London.

Wholesale gasoline slid 1 cent to $1.66 a gallon. Heating oil fell 1 cent to $1.77 a gallon. Natural gas declined 2 cents to $3.12 per 1,000 cubic feet.


In metals trading, gold slipped 20 cents to $1,310.60 an ounce. Silver gained 12 cents to $17.28 an ounce. Copper held steady at $2.97 a pound.

The dollar rose to 111.50 yen from 111.47 yen on Monday. The euro strengthened to $1.1997 from $1.1953.

Global shares were mixed Tuesday.

In Europe, Germany's DAX was flat, while France's CAC 40 rose 0.2 percent. The FTSE 100 index of leading British shares gained 0.3 percent. In Asia, Japan's benchmark Nikkei 225 added nearly 2.0 percent coming off a national holiday on Monday. Australia's S&P/ASX 200 edged down 0.1 percent, while South Korea's Kospi lost nearly 0.1 percent. Hong Kong's Hang Seng fell nearly 0.4 percent.


----------



## bigdog

https://www.usnews.com/news/busines...s-flat-as-investors-await-fed-meeting-results

* US Stocks Wobble After Fed Announcement, but Close Higher *
*U.S. stock indexes overcame an afternoon wobble to close mostly higher Wednesday after the Federal Reserve said it would start reducing its huge bond portfolio next month and was still on track to raise interest rates later this year*

By ALEX VEIGA, AP Business Writer

The central bank's announcement drove bond yields higher, lifting shares in banks and other financial companies. Banks benefit from higher bond yields because it means they can charge higher interest rates on loans.

High-dividend stocks like utilities and household goods makers fell. Income-seeking investors find those stocks less appealing when bond yields move higher.

"The announcement was pretty much in line with what was expected," said David Chalupnik, head of equities at Nuveen Asset Management. "So far, the market is taking it in stride, but I don't know if it should. This will slowly impact growth."

The Standard & Poor's 500 index inched up 1.59 points, or 0.1 percent, to 2,508.24. The Dow Jones industrial average rose 41.79 points, or 0.2 percent, to 22,412.59. The modest gains nudged both indexes to record highs, extending a run of milestones that stretches back to last week.

The Nasdaq composite lost 5.28 points, or 0.1 percent, to 6,456.04. The Russell 2000 index of smaller-company stocks added 5.02 points, or 0.4 percent, to 1,445.42.

Trading on Wall Street had been mostly subdued this week ahead of the Fed's announcement.

Fed policymakers decided to leave the central bank's short-term benchmark interest rate between 1 percent and 1.25 percent, but also said they still expect to increase the rate one more time this year and three times in 2018, if persistently low inflation rebounds.

The Fed has modestly raised the rate four times since December 2015 after keeping it at a record low for seven years after the 2008 financial crisis.


In addition, the Fed said it will begin to gradually unwind its $4.5 trillion balance sheet next month. The portfolio primarily consists of government and mortgage-backed bonds. The move will gradually increase long-term borrowing rates.

The prospect of another Fed rate hike this year at a time when the U.S. economy is growing modestly and may slow somewhat from the impact of hurricanes Harvey and Irma, could be bad news for stocks the next few weeks, Chalupnik said.

"At least over the near term, probably between now and the end of October, the market is at risk," he said. "And it's at risk because of lower economic numbers, higher interest rates and earnings that, on an individual-company basis, could disappoint if they were impacted by hurricanes Harvey and Irma."

Following the announcement, bond prices slumped, sending the yield on the 10-year Treasury note to 2.27 percent from 2.25 percent late Tuesday.

Investors also bid up shares in banks and other financial companies, which led the gainers. Zions Bancorporation climbed 70 cents, or 1.6 percent, to $45.11. Raymond James Financial rose $1.15, or 1.4 percent, to $82.32.

The Fed statement also sent the dollar higher against other currencies. The dollar rose to 112.38 yen from 111.50 yen on Tuesday. The euro weakened to $1.1885 from $1.1997.

Technology companies were among the biggest decliners. Qorvo slid $4, or 5.4 percent, to $70.32. Adobe Systems also slumped. The business software company posted solid quarterly results, but investors were concerned about the performance of its cloud business. The stock lost $6.64, or 4.2 percent, to $149.96.


Traders also sold off several packaged food companies after General Mills' latest quarterly results fell short of Wall Street's expectations. The cereal maker slid $3.21, or 5.8 percent, to $52.17. Kellogg fell $1.15, or 1.7 percent, to $64.72, while Campbell Soup lost 81 cents, or 1.7 percent, to $46.51.

Bed Bath and Beyond plunged 15.9 percent after the home goods retailer reported that its latest quarterly sales at stores open at least a year, a key metric for retailers, fell short of analysts' forecasts. The stock lost $4.29 to $22.74.

Investors also weighed new data on the U.S. housing market that showed sales of previously occupied homes fell 1.7 percent in August. Over the past 12 months, U.S. home sales have risen only 0.2 percent. The report from the National Association of Realtors pulled down homebuilder shares. CalAtlantic Group fell the most, shedding 97 cents, or 2.7 percent, to $34.60.

Energy companies rose along with the price of crude oil. Chesapeake Energy added 15 cents, or 3.7 percent, to $4.19.

Benchmark U.S. crude added 93 cents, or 1.9 percent, to settle at $50.41 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, gained $1.15, or 2.1 percent, to $56.29 a barrel in London.

Wholesale gasoline was little changed at $1.66 a gallon. Heating oil added 3 cents to $1.81 a gallon. Natural gas declined 3 cents to $3.09 per 1,000 cubic feet.

Among metals, gold gained $5.80 to $1,316.40 an ounce. Silver rose 6 cents to $17.33 an ounce. Copper held steady at $2.97 a pound.

Markets overseas were mixed Wednesday.

In Europe, Germany's DAX rose 0.1 percent, while the CAC 40 in France added 0.1 percent. The FTSE 100 index of leading British shares was flat. In Asia, Japan's Nikkei 225 added 0.1 percent and South Korea's Kospi slipped 0.2 percent. Hong Kong's Hang Seng index added 0.4 percent. Australia's S&P/ASX 200 fell 0.1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...s-lower-dollar-up-after-feds-latest-statement

*US Stocks Slide, First Decline for the Market This Week *

By ALEX VEIGA, AP Business Writer

A slide in technology companies weighed on U.S. stocks Thursday, pulling the market lower for the first time this week and erasing modest gains from a day earlier.

Supermarket operators, beverage companies and other consumer-focused stocks also declined. Industrial companies and banks led the gainers. Trading was mostly subdued as investors sized up the latest company earnings and deal news.

The Standard & Poor's 500 index lost 7.64 points, or 0.3 percent, to 2,500.60. The Dow Jones industrials fell 53.36 points, or 0.2 percent, to 22,359.23. Both indexes posted record highs on Wednesday. The Nasdaq composite lost 33.35 points, or 0.5 percent, to 6,422.69. The Russell 2000 index of smaller-company stocks gave up 1.24 points, or 0.1 percent, to 1,444.18.

The stock market was coming off modest gains on Wednesday following the latest policy update from the Federal Reserve. The central bank indicated that it remains on course to raise interest rates on several occasions over the coming year.

"The talk yesterday was still very much in generalities, without specific plans," said JJ Kinahan, chief strategist for TD Ameritrade. "As those details start to become more clarified, you may see a bigger reaction from the market."

Investors continued to rotate out of technology stocks. Despite the pullback, the sector remains up about 25 percent this year, well ahead of all other sectors in the S&P 500. Chipmaker Nvidia slid $5.08, or 2.7 percent, to $180.76. Video game publisher Electronic Arts fell $2.32, or 1.9 percent, to $118.02.

Beverage, food and supermarket companies closed lower. Kroger dropped 58 cents, or 2.8 percent, to $20.22. Dr. Pepper Snapple Group gave up $2.18, or 2.4 percent, to $89.50.


Health care stocks also declined. Allergan shares shed $7.34, or 3.5 percent, to $202.66.

"Harry Potter" publisher Scholastic fell 7.1 percent after reporting a disappointing quarter. The stock shed $2.72 to $35.79.

Industrial stocks got a strong lift as investors bid up shares in airlines and other big companies. American Airlines added 87 cents, or 1.9 percent, to $46.29. General Electric gained 43 cents, or 1.8 percent, to $24.75.

Financial stocks also got a boost Thursday. Citizens Financial Group picked up 48 cents, or 1.3 percent, to $36.27.

Traders welcomed news that Calgon Carbon agreed to be acquired by Kurary, a Japanese company, for $1.1 billion. Shares in the maker of water and air filtration systems soared $8.20, or 62.1 percent, to $21.40.

Separately, Ash Grove Cement jumped 82.5 percent after saying it would be bought by CRH. Ash Grove added $235 to $520.

Anadarko Petroleum vaulted 8.2 percent after the company announced a $2.5 billion share buyback authorization that runs through the end of next year. The stock added $3.68 to $48.49.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.28 percent from 2.27 percent late Wednesday.

The dollar rose to 112.55 yen from 112.38 yen on Wednesday. The euro climbed to $1.1934 from $1.1885.

Benchmark U.S. crude fell 14 cents, or 0.3 percent, to settle at $50.55 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, gained 14 cents, or 0.2 percent, to $56.43 a barrel in London. Heating oil added 1 cent to $1.82 a gallon. Wholesale gasoline slipped 1 cent to $1.64 a gallon. Natural gas declined 15 cents, or 4.8 percent, to $2.95 per 1,000 cubic feet.


In metals trading, gold fell $21.60 to $1,294.80 an ounce. Silver lost 32 cents to $17.02 an ounce. Copper slid 3 cents to $2.94 a pound.

World markets were mixed. In Europe, Germany's DAX rose 0.2 percent, while the CAC 40 in France edged up 0.5 percent. The FTSE 100 index of leading British shares slid 0.1 percent. Earlier, in Asia, Japan's benchmark Nikkei 225 added 0.2 percent as the yen weakened against the dollar. South Korea's Kospi slipped 0.2 percent and Hong Kong's Hang Seng index shed 0.1 percent.


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## bigdog

https://www.usnews.com/news/busines...s-fall-on-north-korea-concerns-china-rate-cut

*Energy Leads US Stocks Indexes to a Mostly Higher Finish *

By ALEX VEIGA, AP Business Writer

A listless day on Wall Street finished with U.S. stocks eking out small gains Friday, as strength in energy, phone and industrial companies offset losses elsewhere.

Some health insurers bounced back as support dwindled for the Senate Republicans' latest effort to roll back the Affordable Care Act.

Real estate and utilities companies were among the biggest decliners. A new round of tensions between the U.S. and North Korea helped send bond yields lower, which weighed on banks and other financial stocks. The sector notched daily gains earlier in the week.

"Geopolitical tensions coming out of North Korea caused a flight to quality, which kind of put the brakes on the momentum in financials," said David Schiegoleit, managing director of investments at U.S. Bank Private Wealth Management. "Today equity markets are simply moving sideways and probably digesting that."

The Standard & Poor's 500 index rose 1.62 points, or 0.06 percent, to 2,502.22. The Dow Jones industrial average shed 9.64 points, or 0.04 percent, to 22,349.59. The average was held back by a loss in Apple, which slid $1.50, or 1 percent, to $151.89.

The Nasdaq composite added 4.23 points, or 0.07 percent, to 6,426.92.

Small-company stocks did better than the rest of the market. The Russell 2000 gained 6.60 points, or 0.5 percent, to 1,450.78, a fraction of a point above its previous record high.

The Russell 2000 also notched the biggest weekly gain, 1.3 percent. The S&P 500 and Dow posted small gains, while the Nasdaq closed out the week with a modest loss.

The stock indexes spent much of the day drifting between small gains and losses as investors weighed the latest developments in the political brinkmanship between the U.S. and North Korea.


Tensions between the two nations ratcheted up after President Donald Trump authorized stiffer sanctions in response to North Korea's nuclear weapons advances, drawing a furious response from Pyongyang. Trump expanded the Treasury Department's ability to target anyone conducting significant trade in goods, services or technology with North Korea, and to ban them from interacting with the U.S. financial system. North Korean leader Kim Jong Un retaliated by calling Trump "deranged" and saying he'll "pay dearly" for his threats.

The heightened tensions drove up bond prices, which sent yields lower. The yield on the 10-year Treasury slipped to 2.25 percent from 2.28 percent late Thursday.

That weighed on bank shares, including Fifth Third Bancorp, which declined 23 cents, or 0.8 percent, to $27.31. Lower bond yields mean banks have to charge lower interest rates on long-term loans like mortgages.

Several health care companies recovered some of the ground they lost earlier after Sen. John McCain said he won't vote for the latest Republican bill to repeal the ACA. His statement likely deals a fatal blow to the last-gasp GOP measure in a Senate showdown expected next week.

Centene, which administers Medicaid programs and sells health plans to ACA exchanges, rose $1.48, or 1.6 percent, to $92.22. Molina Healthcare gained $2.81, or 4.5 percent, to $65.32.

Energy stocks rose as crude oil prices finished higher. Hess added 87 cents, or 2 percent, to $44.50.

Benchmark U.S. crude rose 11 cents, or 0.2 percent, to settle at $50.66 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, rose 43 cents, or 0.8 percent, to close at $56.86 a barrel in London.


Real estate investment trusts and utilities were among the biggest decliners. Ventas fell $1.48, or 2.2 percent, to $66.04. Duke Energy slid 91 cents, or 1.1 percent, to $84.25.

Industrial stocks, including several airlines, were among the gainers. Alaska Air Group added $1.84, or 2.5 percent, to $74.75. American Airlines Group gained 77 cents, or 1.7 percent, to $47.06.

Traders welcomed news of a possible combination between two major wireless carriers.

Sprint climbed 6.1 percent after Reuters reported the company is close to signing a deal with rival T-Mobile. Shares in Sprint added 49 cents to $8.52. T-Mobile gained 67 cents, or 1.1 percent, to $64.06. Verizon also got a boost, rising 96 cents, or 2 percent, to $49.90.

Among the big movers Friday was Compass Minerals, which slumped 13.5 percent after the mining company cut its annual profit forecast after a partial ceiling cave-in at a rock salt mine in Ontario that will slow operations for six weeks. The stock lost $9.40 to $60.10.

CarMax jumped 7.8 percent after the used car retailer's latest quarterly results beat analysts' forecasts. The stock gained $5.35 to $74.19.

In other energy futures trading, heating oil was little changed at $1.82 a gallon. Wholesale gasoline gained 3 cents to $1.67 a gallon. Natural gas rose 1 cent to $2.96 per 1,000 cubic feet.

Gold rose $2.70 to $1,297.50 an ounce. Silver lost 3 cents to $16.98 an ounce. Copper added 1 cent to $2.95 a pound.

The dollar weakened to 112.05 yen from 112.38 yen on Thursday. The euro climbed to $1.1941 from $1.1885.

Markets overseas were mixed Friday.

Germany's DAX fell 0.1 percent, while France's CAC 40 gained 0.3 percent. Britain's FTSE 100 rose 0.6 percent. In Asia, markets finished unevenly after S&P downgraded the credit rating for China and Hong Kong. Japan's benchmark Nikkei 225 slipped 0.3 percent, while South Korea's Kospi lost 0.7 percent. Hong Kong's Hang Seng shed 0.8 percent.

3591


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## bigdog

https://www.usnews.com/news/busines...-mixed-as-investors-mull-weekend-vote-results

* A Rare Tumble for Tech Stocks Pulls US Indexes Lower *
*U.S. stock indexes fell on Monday after losses for technology companies overshadowed gains for energy producers and elsewhere.*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Technology stocks slammed into reverse on Monday, and the losses overshadowed gains in other areas of the market to send broad U.S. indexes lower.

Treasury bond prices and gold rose, meanwhile, as investors looked for safer places for their money following the latest escalation in the heated rhetoric between the United States and North Korea. Stock markets around the world were mixed after the leader of Europe's largest economy retained her position, though her political strength may have weakened.

The Standard & Poor's 500 index dropped 5.56 points, or 0.2 percent, to 2,496.66. The Dow Jones industrial average fell 53.50 points, or 0.2 percent, to 22,296.09, and the Nasdaq composite dropped 56.33, or 0.9 percent, to 6,370.59. Smaller stocks held up better than the rest of the market, and the small-cap Russell 2000 index rose 1.18, or 0.1 percent, to 1,451.96.

The day's action was centered around the technology sector, and tech stocks in the S&P 500 lost 1.4 percent. That's more than three times the loss of any of the other 10 sectors that make up the index, and the losses were broad: Facebook fell 4.5 percent, Nvidia lost 4.5 percent and video-game developer Electronic Arts lost 3.6 percent.

Any stumble for tech this year has been notable given how much better it's done than the rest of the market. Tech stocks in the S&P 500 have jumped 23 percent in 2017, double the S&P 500's gain. They've been so successful that many hedge funds and other investors have bought them in hopes of riding the tide higher. But tech stocks' success also means that they're look more expensive than the rest of the market, relative to corporate profits.


"There have been a lot of dollars trafficking in these areas that have been winners the last year or so," said Nate Thooft, senior portfolio manager at Manulife Asset Management. "As people get scared — as they see better opportunities elsewhere, or as they see someone else heading for the gates — it's a bit of a self-fulfilling prophecy," he said, where investors look to sell their tech stocks before everyone else does.

As investors moved out of tech stocks on Monday, some money flowed into areas of the market that haven't done as well.

Energy stocks, which have been the worst performers in the S&P 500 this year, had the day's strongest gains. Marathon Oil gained 3.1 percent, for example, and Noble Energy rose 2.7 percent.

They rose with the price of oil, which has been holding above $50 per barrel in recent days after spending most of the summer below that level. Benchmark U.S. crude rose $1.56 to settle at $52.22, and Brent crude, the international standard, jumped $2.16 to $59.02 a barrel.

Genuine Parts had the biggest gain in the S&P 500 after it said it would buy Alliance Automotive Group, a European distributor of auto parts, tools and workshop equipment. Genuine Parts valued the deal at $2 billion, including debt.

Genuine Parts gained $5.24, or 6 percent, to $93.22.

The stock market has been remarkably placid for much of this year, and the biggest move for the S&P 500 last week was a dip of just 0.3 percent. A few events are on the schedule for this week, though, which could make markets more active.

Federal Reserve Chair Janet Yellen will give a speech on inflation and monetary policy on Tuesday, one of several central bankers on the schedule for the week. Investors are also waiting to hear more details about President Donald Trump's plans to cut taxes.


Investors were also keeping a close eye on tensions between North Korea and the U.S. On Monday, North Korea's foreign minister said Trump's threat over the weekend that leader Kim John Un may not be "around much longer" was a declaration of war.

Prices for Treasury bonds jumped after North Korea's foreign minister made his comments. That in turn pushed down yields.

The yield on the 10-year Treasury note fell to 2.21 percent from 2.25 percent late Friday. The two-year fell to 1.41 percent from 1.44 percent, and the 30-year dipped to 2.76 percent from 2.78 percent.

The price of gold had been down in morning trading, but it quickly reversed course following the North Korean statement. It rose $14 to $1,311.50 per ounce.

Silver gained 16 cents to $17.15 per ounce, and copper lost a penny to $2.94 per pound.

Natural gas dropped 4 cents to $2.92 per 1,000 cubic feet, heating oil rose 4 cents to $1.86 per gallon and wholesale gasoline added 5 cents to $1.72 per gallon.

In overseas markets, Germany's DAX index was virtually flat after Chancellor Angela Merkel won a fourth term. Merkel's party and its allies, though, lost some seats as they turned in one of their weakest postwar results. The results sent the euro lower and underscored the challenge Merkel has in forming a coalition with new partners to lead Europe's biggest economy.

The CAC 40 fell 0.3 percent in Paris, and the FTSE 100 dipped 0.1 percent in London.

In Asia, Japan's Nikkei 225 rose 0.5 percent, South Korea's Kospi slipped 0.3 percent and Hong Kong's Hang Seng fell 1.4 percent.

The euro fell to $1.1846 from $1.1941 late Friday, and the British pound slipped to $1.3470 from $1.3527. The dollar fell to 111.61 Japanese yen from 112.05 yen.


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## bigdog

.
https://www.usnews.com/news/busines...s-lower-as-investors-watch-us-nkorea-tensions

* Tech Stocks Rise, but US Indexes Finish Little Changed *
*US stocks finish little changed overall as small companies continue to rise and technology companies bounce back even as other sectors slump.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stock indexes finished barely higher Tuesday after a late slump erased most of an early gain. Technology companies recovered some of the losses they took a day earlier, but energy companies and banks slipped.

Strong gains for software company Red Hat and recoveries for big names like Apple and Facebook helped technology companies move higher. Cruise lines rose after Carnival had a stronger third quarter than analysts expected. Small-company stocks continue to set record highs.

With little corporate or economic news to focus on, investors turned their attention to a speech by Federal Reserve Chair Janet Yellen for clues about the Fed's thinking on interest rates.

Yellen told a conference of economists that the Fed is puzzled that inflation remains so low. While she and other policymakers still think inflation will eventually reach the Fed's 2 percent target, Yellen conceded that the Fed may need to change its assumptions.

Yellen also said the Fed should take care not to raise rates too slowly. JJ Kinahan, chief strategist for TD Ameritrade, said that was notable.

"That was a little bit stronger language than we've seen before," he said. Kinahan said investors have concluded over the last two weeks that the Fed will raise interest rates again in December, and Yellen's remarks did nothing to dispel that idea.

In Washington, Senate Republicans said they won't hold a vote on their latest health care bill because it did not have enough votes to pass. On Wednesday, the Trump administration plans to release an outline of its ideas on changes to the tax code.

With long negotiations likely just beginning, Kinahan said investors don't expect much to get done right away.


"For calendar year 2017, the market is giving Washington a pass on taxes," he said. "In 2018 that's not going to be the case."

The Standard & Poor's 500 index added 0.18 points to 2,496.84. The Dow Jones industrial average, which rose as much as 73 points during the day, lost 11.77 points, almost 0.1 percent, to 22,284.32 as McDonald's fell and Chevron went into a late slide.

The Nasdaq composite gained 9.57 points, or 0.2 percent, to 6,380.16 after a drop of 0.9 percent on Monday. The Russell 2000 index of smaller-company stocks gained 4.91 points, or 0.3 percent, to a record 1,456.86.

Carnival's third-quarter profit and revenue surpassed Wall Street's expectations. The cruise line raised its annual forecasts and said bookings and prices for next year are higher than they were at this time a year ago. Carnival gained $1.82, or 2.9 percent, to $65.32 and competitor Royal Caribbean Cruises rose $3.31, or 2.9 percent, to $117.19.

Open-source software maker Red Hat climbed $4.31, or 4.1 percent, to $110.07 after reporting a better-than-expected second quarter. Chipmaker Nvidia rose after it said several major Chinese companies, including e-commerce giants Alibaba and Baidu, will use its products in data centers and cloud computing platforms. It added 96 cents to $171.96.

Elsewhere, Apple picked up $2.59, or 1.7 percent, to $153.14 and Facebook rose $1.34 to $164.21.

The director of global sports marketing for athletic apparel maker Adidas was one of 10 people charged in what the U.S. government described as a scheme to match agents and advisers to college basketball players before they became NBA stars. Four assistant basketball coaches were arrested along with Adidas executive James Gatto. Adidas fell 2.4 percent in Germany.


Benchmark U.S. crude slid 34 cents to $51.88 a barrel in New York. Brent crude, the standard for international oil prices, gave up 58 cents to $58.44 a barrel in London. Chevron gave up 47 cents to $117.52 and Schlumberger fell 83 cents, or 1.2 percent, to $68.82.

Equifax announced the retirement of its chairman and CEO as the credit reporting agency tries to clean up a mess left by a data breach that exposed highly sensitive information about 143 million Americans. Richard Smith had been the company's CEO since 2005. The company said Smith won't receive his annual bonus or other benefits until Equifax finishes its investigation into the data breach it disclosed earlier this month. Two other company executives left on Sept. 15.

Equifax fell early on, but later recovered to finish 96 cents higher at $106.05.

Wholesale gasoline lost 2 cents to $1.70 a gallon. Heating oil retreated 1 cent to $1.85 a gallon. Natural gas remained at $2.92 per 1,000 cubic feet.

Bond prices declined. The yield on the 10-year Treasury note rose to 2.23 percent from 2.22 percent.

Gold lost $9.80 to $1,301.70 an ounce. Silver declined 26 cents to $16.88 an ounce. Copper fell 2 cents to $2.92 a pound.

The dollar rose to 112.17 yen from 111.61 yen. The euro fell to $1.1798 from $1.1846.

Germany's DAX rose 0.1 percent and the FTSE 100 in Britain fell 0.2 percent. France's CAC 40 rose less than 0.1 percent. Tokyo's Nikkei 225 lost 0.3 percent and the Hang Seng of Hong Kong gained less than 0.1 percent. The South Korean Kospi declined 0.3 percent.


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## bigdog

https://www.usnews.com/news/busines...stly-down-as-investors-focus-on-us-tax-reform

* Small Companies Make Biggest Gains as US Stocks Rise *
*US stocks climb, and the biggest gains go to smaller banks, industrial and technology companies after the Labor Department said business investment appeared to get stronger in August.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks climbed Wednesday as smaller companies soared following a report that showed business investment climbed in August. Investors also hoped stocks will benefit from tax cuts proposed by President Donald Trump and congressional Republicans.

The Labor Department said orders for long-lasting manufactured goods rose, and a gauge of business investment climbed for the second month in a row. Investors hope that means U.S. manufacturing is getting stronger as the global economy continues to improve, and they bet on continued growth: technology companies rallied for a second day, while the prices of traditionally safe investments like bonds and gold dropped.

"We've been waiting for that," said Kate Warne, an investment strategist for Edward Jones, of the recent improvement. "Business spending has been relatively weak," with spending by consumers keeping the economy afloat.

Smaller, domestically-focused banks and technology and industrial firms made especially large gains, and the Russell 2000 index of smaller-company stocks made its biggest gain since March. The tax proposal was similar to what investors had come to expect, and with months of negotiations likely ahead and key details missing, it's not clear what kind of plan might ultimately pass. But lower corporate taxes could help smaller companies more than large ones.

"A corporate tax cut tends to be better news for smaller companies because they don't have as many ways to reduce their tax rate," said Warne.

The proposal would cut tax rates for individuals and corporations. It would lower the top corporate tax rate to 25 percent from its current 35 percent, and also reduces the number of personal tax brackets and nearly doubles the standard deduction used by most Americans.


The Standard & Poor's 500 index added 10.20 points, or 0.4 percent, to 2,507.04. The Dow Jones industrial average rose 56.39 points, or 0.3 percent, to 22,340.71. The Nasdaq composite leaped 73.10 points, or 1.1 percent, to 6,453.26.

The Russell 2000 did even better and continued to set records. It gained 27.95 points, or 1.9 percent, to 1,484.81. After a sluggish few months, the Russell has jumped more than 9 percent since mid-August. The S&P mid-cap and small-cap indexes also climbed.

The Labor Department's report gave investors hope the economy will keep growing, and Wall Street bet that interest rates will keep rising. The yield on the 10-year Treasury note climbed to 2.30 percent from 2.24 percent. That helped banks, as higher interest rates mean they can charge more to lend money. Bank of America picked up 60 cents, or 2.4 percent, to $25.41 and Citigroup rose $1.34, or 1.9 percent, to $72.28.

Meanwhile companies that pay big dividends took steep losses. Kimco Realty, a real estate investment trust that owns outdoor shopping centers, fell 75 cents, or 3.7 percent, to $19.41. Household products maker Procter & Gamble gave up $1.78, or 1.9 percent, to $90.87. Rising bond yields made government bonds a more appealing investment to investors seeking income.

The dollar got stronger and rose to 112.75 yen from 112.17 yen. The euro fell to $1.1756 from $1.1798.

Chipmaker Micron Technology had a better quarter than investors expected, and its stock rose $2.81, or 8.5 percent, to $37.09. Facebook climbed $3.47, or 2.1 percent, to $167.68 and Google's parent company Alphabet picked up $22.47, or 2.4 percent, to $959.90.


Shoe and athletic gear maker Nike said sales in the U.S. remained weak in its first fiscal quarter and steep discounts continued to affect its business. While its earnings and revenue were better than analysts expected, analysts chalked much of that up to lower taxes, stock repurchases, and spending cuts.

Nike lost $1.03, or 1.9 percent, to $52.67.

Utility company Scana took its biggest loss in almost nine years after state police in South Carolina said they are looking into "potential criminality" by the company after a nuclear plant construction project was shut down after some $10 billion had already been spent. Its South Carolina Electric & Gas unit and partner Santee Cooper canceled the project in July after contractor Westinghouse filed for bankruptcy.

Scana said it will cooperate fully with the inquiry. Its stock sank $4.35, or 7.8 percent, to a two-year low of $51.22.

Gold fell to its lowest in a month. The metal's price declined $13.90, or 1.1 percent, to $1,287.80 an ounce. Two weeks ago gold was at a 12-month high, but it's fallen sharply since then. Silver lost 6 cents to $16.83 an ounce. Copper rose 1 cent to $2.93 a pound.

Benchmark U.S. crude added 26 cents to $52.14 a barrel in New York while Brent crude, the standard for international oil prices, fell 54 cents, to $57.90 a barrel in London.

Wholesale gasoline fell 4 cents to $1.65 a gallon. Heating oil remained at $1.85 a gallon. Natural gas rose 6 cents to $2.97 per 1,000 cubic feet.

The FTSE 100 index in Britain rose 0.4 percent while Germany's DAX rose 0.4 percent. The CAC 40 in France added 0.3 percent. Japan's Nikkei 225 fell 0.3 percent and South Korea's Kospi dipped less than 0.1 percent. Hong Kong's Hang Seng index rose 0.5 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ixed-as-investors-gauge-impact-of-us-tax-plan

* Gains for Drugmakers Help US Stocks Reach New Records *
*US stocks edge higher as drugmakers, technology companies and financials all rise.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks finished slightly higher Thursday, led by technology companies and drugmakers. After a big move the day before, that was enough to take stocks back to record highs.

After a slow start, stocks gradually moved upward in afternoon trading as companies in technology, basic materials, real estate and finance contributed modest gains. Drugmaker AbbVie jumped after it reached a deal with a competitor that would delay competition for its anti-inflammatory treatment Humira, the biggest-selling drug in the world. Industrial firms took small losses as big names like Boeing and General Electric declined.

September is historically the weakest month of the year for stocks, but the Standard & Poor's 500 has risen 1.6 percent this month. The third quarter ends Friday, and the index has climbed 12 percent this year. That has some investors wondering if other markets are poised to do better than U.S. stocks in the months to come.

"The U.S. economic cycle is so much further along than the Europe economic cycle," said Sameer Samana, global quantitative strategist for the Wells Fargo Investment Institute. He added that European stocks haven't done as well as U.S. stocks in 2017, and with the European Central Bank getting ready to start raising interest rates, banks in Europe should start making more money.

But Samana thinks stocks that are linked to U.S. economic growth, like banks and industrial and consumer-focused companies, should continue to do well. Those stocks mostly climbed on Thursday.

The Standard & Poor's 500 index rose 3.02 points, or 0.1 percent, to a record high of 2,510.06. The Dow Jones industrial average gained 40.49 points, or 0.2 percent, to 22,381.20. The Nasdaq composite inched up 0.19 points to 6,453.45. The Russell 2000 index of smaller-company stocks continued to set new highs as it advanced 3.97 points, or 0.3 percent, to 1,488.79.


Drugmaker AbbVie climbed after it resolved a patent dispute over Amgen's version of AbbVie's drug Humira, which is the source of most of its revenue. Amgen agreed not to begin selling its version of the anti-inflammatory medicine in Europe until October 2018, and the U.S. version won't go on the market until Jan. 31, 2023.

The settlement would mean billions of dollars in additional sales for AbbVie, which reported $16 billion in Humira sales in 2016. Its stock gained $4.21, or 5 percent, to $88.96 and Amgen rose 58 cents to $185.46.

Abbott Laboratories jumped after the Food and Drug Administration approved its FreeStyle Libre Flash glucose monitoring system for adults with Type 1 diabetes. The product uses a sensor inserted below the skin to measure blood glucose. Analysts say Abbott could have a competitive edge because the FDA did not advise patients to take samples of their blood to confirm the system's readings.

Abbott rose $1.9, or 2.9 percent, to $53.64. DexCom, which gets all its revenue from selling its own blood glucose monitoring system, plunged $22.03, or 32.7 percent, to $45.44 in heavy trading.

Spice maker McCormick raised its profit and revenue estimates after it beat expectations in the fiscal third quarter. Its stock gained $5.20, or 5.4 percent, to $101.65.

Streaming video device maker Roku surged in its first day of trading. Its initial public offering priced at $14 a share and it jumped $9.50, or 67.9 percent, to finish at $23.50. the company makes boxes and sticks that let users watch Netflix, Hulu and other streaming networks on their TVs. Roku was an early entrant in that industry, but now faces competition from companies like Amazon, Apple, and Google's parent company Alphabet.


Roku raised $219 million from the offering and the IPO valued the company at $1.3 billion.

Drugstore chain Rite Aid dropped after its quarterly revenue fell short of Wall Street's forecasts. The stock lost 25 cents, or 11 percent, to $2.03. Earlier this month the company agreed to sell almost half of its stores to rival Walgreens for $4.38 billion, but the slimmed-down deal was smaller than investors had hoped.

Benchmark U.S. crude gave up an early gain and fell 58 cents, or 1.1 percent, to $51.56 a barrel in New York. Brent crude, the standard for international oil prices, fell 49 cents to $57.41 per barrel in London.

Wholesale gasoline lost 2 cents to $1.63 a gallon. Heating oil fell 1 cent to $1.83 a gallon. Natural gas slid 4 cents to $3.02 per 1,000 cubic feet.

Bond prices rebounded from an early slump. The yield on the 10-year Treasury note remained at 2.31 percent.

Gold inched up 90 cents to $1,288.70 an ounce. Silver added 2 cents to $16.85 an ounce. Copper rose 5 cents to $2.98 a pound.

The dollar dipped to 112.39 yen from 112.75 yen. The euro rose to $1.1791 from $1.1756.

The German DAX gained 0.4 percent and the CAC 40 in France rose 0.2 percent. In Britain the FTSE 100 added 0.1 percent. Japan's Nikkei index rose 0.5 percent and in South Korea the Kospi made a tiny gain. Hong Kong's Hang Seng index slipped 0.8 percent.


----------



## bigdog

https://www.usnews.com/news/busines...res-slightly-higher-though-japan-is-exception

* Technology Firms and Small Companies Lead US Stocks Higher *
*Stocks finish the third quarter by setting more records as technology companies and smaller, domestically-focused companies climb.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Large technology and health care companies and smaller U.S.-focused firms rose again Friday as stocks finished the third quarter at record highs.

Stocks were mixed at the start of trading, as they had been the day before. But chipmakers and big-name technology companies pulled stocks higher, as they have done all year. Health care companies also did better than the rest of the market. Tyson Foods climbed after it gave strong profit forecasts, and investors cheered strong quarterly results from homebuilder KB Home.

The market ended the quarter on a four-day winning streak that began after Federal Reserve Chair Janet Yellen said the central bank plans to continue to raising interest rates.

"It's all about the confidence they have that despite low inflation, it still makes sense to raise interest rates," said Randy Frederick, vice president of trading and derivatives at the Schwab Center for Financial Research. "She's confident in the economy and the economic backdrop is very solid."

The Standard & Poor's 500 index rose 9.30 points, or 0.4 percent, to 2,519.36. The Dow Jones industrial average turned higher to finish with a gain of 23.89 points, or 0.1 percent, at 22,405.09. The Nasdaq composite jumped 42.51 points, or 0.7 percent, to 6,495.96. The S&P 500 and Nasdaq both closed at all-time highs.

The Russell 2000 index of small-company stocks added 2.08 points, or 0.1 percent, to 1,490.86. It's also at record highs after a big rally this month. It climbed 6 percent in September as investors felt positive about the U.S. economy and hoped Congress and President Donald Trump's administration will reduce taxes.

Tyson Foods jumped after the food company raised its annual guidance and said profits for its beef business were better than expected. Thanks in part to cost cuts, Tyson also forecast a bigger profit than analysts expected for next year.


Tyson climbed $5, or 7.6 percent, to $70.45. The stock gained more ground Friday than it had for the rest of this year put together. Rival Hormel Foods, whose brands include Skippy, rose 43 cents, or 1.4 percent, to $32.14. Those companies and their competitors have struggled in recent years as Americans look for fresher food options.

Technology companies rose further and were the best-performing S&P 500 sector in the third quarter. They also held that distinction in the first quarter. The S&P 500 technology index has climbed 26 percent in 2017, while the S&P 500 is up 12.5 percent.

Facebook added $2.14, or 1.3 percent, to $170.87 and chip equipment maker Applied Materials rose $1.47, or 2.9 percent, to $52.09. Chipmaker Nvidia advanced $3.09, or 1.8 percent, to $178.77.

The recent gains for tech companies have come in spite of a slump for Apple, the world's most valuable publicly-traded company. While Apple has soared this year, it's down 4 percent since it announced its new line of iPhones and other products Sept. 12.

KB Home advanced after its third-quarter profit and sales beat estimates. The stock rose $1.90, or 8.6 percent, to $24.12. Other homebuilders also rose. Meritage Homes picked up 85 cents, or 2 percent, to $44.40 and D.R. Horton advanced 95 cents, or 2.4 percent, to $39.93.

Oil prices recovered and turned higher just before the close of trading. Benchmark U.S. crude rose 11 cents to $51.67 a barrel in New York. Brent crude, the standard for international oil prices, rose 13 cents to $57.54 a barrel in London.


U.S. crude oil rose 12 percent in the third quarter, which helped energy companies do better than the rest of the market. But on Friday those companies gave back some of their recent gains.

Stocks have risen for eight quarters in a row, and Frederick, of the Schwab Center, said he expects that to continue in the fourth quarter as the global economy is likely to keep growing and interest rates in the U.S. should rise more, which will help profits for banks. However Frederick said it's possible that concerns about domestic politics, including the federal debt limit, or international concerns such as tensions with North Korea will weigh on stocks again, as they did at times in the third quarter.

In other energy trading, wholesale gasoline slid 3 cents to $1.61 a gallon. Heating oil declined 2 cents to $1.81 a gallon. Natural gas gave up 1 cent to $3.01 per 1,000 cubic feet.

Bond prices turned lower. The yield on the 10-year Treasury note rose to 2.33 percent from 2.31 percent.

Gold lost $3.90 to $1,284.80 an ounce. Silver slid 17 cents to $16.68 an ounce. Copper fell 3 cents to $2.96 a pound.

The dollar rose to 112.51 yen from 112.39 yen. The euro rose to $1.1816 from $1.1791.

Germany's DAX added 1 percent and the FTSE 100 in Britain and CAC 40 in France both gained 0.7 percent. In Japan, the benchmark Nikkei 225 inched down less than 0.1 percent. South Korea's Kospi jumped 0.9 percent and Hong Kong's Hang Seng edged up 0.5 percent.

3959


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## bigdog

*Markets in Hong Kong and South Korea were closed Monday for national holidays. *

*




*

*https://www.usnews.com/news/busines...s-gain-on-strong-factory-data-for-china-japan*

* US Stocks Climb, Led by Health Care Companies and Banks *
*After a strong report on US manufacturing, companies linked to stronger economic growth, including banks, health care and industrial companies, lead stock indexes to new highs.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks set more records Monday as health care companies and banks continued to surge as investors grew more optimistic about the recovery in manufacturers.

Stocks got a boost after the Institute for Supply Management said U.S. factory activity hit a 13-year high in August as hurricanes disrupted supplies but drove up demand for manufactured goods. Investors snapped up shares of companies that are linked to more rapid economic growth, like banks and health care and industrial companies as well as smaller, U.S.-focused companies. High-dividend stocks, which are traditionally considered safer and more cautious investments, lagged the rest of the market. Energy companies missed out on the gains as investors worried that oil supplies are rising.

In the last few weeks, stocks have returned to the pattern they followed from the November presidential election to President Donald Trump's inauguration in January: growth-oriented stocks have risen while the dollar has gotten stronger and bond yields have increased.

"We've seen this acceleration in global earnings growth over the last couple of months," said Mark Hackett, chief of investment research at Nationwide Investment Management. "We've seen the rest of the world kind of pick up where the U.S. has been going."

Hackett added that investors in the U.S. seem to have gotten more optimistic that a tax cut package and an infrastructure spending bill could pass a bitterly-divided Congress. That would strengthen the U.S. economy and corporate earnings.

The Standard & Poor's 500 index rose 9.76 points, or 0.4 percent, to 2,529.12. The Dow Jones industrial average advanced 152.51 points, or 0.7 percent, to 22,557.60. The Nasdaq composite gained 20.76 points, or 0.3 percent, to 6,516.72. The Russell 2000 index of smaller-company stocks jumped 18.61 points, or 1.2 percent, to 1,509.47. All four indexes finished at record highs.


Leaders in health care included genetic testing equipment company Illumina, which gained $3.03, or 1.5 percent, to $202.23. Botox maker Allergan climbed $6.03, or 2.9 percent, to $210.98. Among industrials, General Electric jumped 39 cents, or 1.6 percent, to $24.57.

Oil prices dropped after oilfield services company Baker Hughes said last Friday that more drilling rigs went into operation last week after two weeks of declines, and Reuters reported that output of OPEC nations grew in September. Both of those reports suggest that oil supplies are rising.

Benchmark U.S. crude fell $1.09, or 2.1 percent, to $50.58 a barrel in New York. Brent crude, the standard for international oil prices, shed 67 cents, or 1.2 percent, to $56.12 a barrel in London.

Nordstrom slumped following a report that talks to sell the company to a group of investors including the Nordstrom family could fall apart. The New York Post reported that the would-be buyers are having trouble getting enough financing to complete the sale, and that the recent bankruptcy of retailer Toys R Us made that process harder.

Nordstrom stock fell $2.97, or 6.3 percent, to $44.18. Other department stores also fell on concerns about the value of the companies and their ability to raise money.

MGM Resorts stock fell after a man shot and killed at least 58 people and wounded more than 500 at a concert at MGM's Mandalay Bay Hotel and Casino in Las Vegas. It's the deadliest mass shootings in U.S. history. Police say the shooter was 64-year-old Stephen Paddock and that he shot and killed himself inside the hotel.


MGM Resorts lost $1.82, or 5.6 percent, to $30.77.

Gun manufacturers traded higher, as they often do following large shootings as investors wonder if the violence will lead to greater gun sales. Sturm, Ruger jumped $1.80, or 3.5 percent, to $53.50 and American Outdoor Brands, the parent of Smith & Wesson, rose 49 cents, or 3.2 percent, to $15.74.

The euro declined and Spanish stocks dropped as investors reviewed an independence vote and unrest in Catalonia. Officials in the region, which includes Barcelona and accounts for a large portion of Spain's economy, say an overwhelming majority of voters supported independence from Spain. The central government says the referendum is invalid and illegal.

Close to 900 people were injured in confrontations with police who were trying to shut down the voting, although most of the injuries were not serious. More than 30 police officers were also hurt.

The Spanish IBEX index dropped 1.2 percent.

The dollar rose to 112.65 yen from 112.51 yen. The euro fell to $1.1746 from $1.1816. That sent most European stock indexes higher, as it makes exports cheaper and boosts overseas company earnings. Germany's DAX advanced 0.6 percent and the CAC 40 of France rose 0.4 percent. The British FTSE 100 index added 0.9 percent.

In other energy trading, wholesale gasoline fell 4 cents to $1.56 a gallon. Heating oil slid 4 cents to $1.77 a gallon. Natural gas lost 9 cents to $2.92 per 1,000 cubic feet.

Bond prices were little changed. The yield on the 10-year Treasury note held steady at 2.34 percent.

Gold lost $9 to $1,275.80 an ounce. Silver fell 2 cents to $16.65 an ounce. Copper remained at $2.96 a pound.


Japan's benchmark Nikkei 225 index rose 0.2 percent. Markets in Hong Kong and South Korea were closed Monday for national holidays.


----------



## bigdog

https://www.usnews.com/news/busines...an-hong-kong-shares-track-wall-street-advance

* Soaring Airline Stocks Help Lift Wall Street to New Heights *
*A liftoff for airline and automaker stocks helped U.S. indexes push a bit further into record territory on Tuesday.*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Airline and automaker stocks took off on Tuesday and helped U.S. indexes push a bit further into record territory. Trading was again quiet overall, with only modest moves for bond yields, commodities and other markets.

The Standard & Poor's 500 index rose 5.46 points, or 0.2 percent, to 2,534.58 for its sixth straight day of gains. The Dow Jones industrial average rose 84.07, or 0.4 percent, to 22,641.67, and the Nasdaq composite rose 15.00 points, or 0.2 percent, to 6,531.71. The Russell 2000 index of small-cap stocks added 2.49, or 0.2 percent, to 1,511.97. All four indexes are at records.

Airlines led the way after Delta Air Lines updated its forecast for third-quarter results. The Atlanta-based carrier expects to report roughly 2 percent growth in a key revenue measurement, which would be at the high end of the forecast range it had given a month earlier, after accounting for the hit that it took from Hurricane Irma.

Delta jumped $3.18, or 6.6 percent, to $51.25 for its best day since January 2015. United Continental, American Airlines Group and Southwest Airlines also each rose more than 4 percent.

Outside of airlines and a handful of other big movers, though, markets were generally quiet. No big economic reports were on the docket, and few companies reported quarterly results.

"This is the calm before we get hit with some more impactful information," said Steve Chiavarone, portfolio manager at Federated Investors.

In upcoming weeks, the market will be looking to hear more about whether Washington will be able to cut tax rates for companies and others. Investors may also get clues about who the next chair of the Federal Reserve will be, and most companies will begin reporting their third-quarter results.


In the meantime, some economic reports may look abnormally weak because of the hurricanes that have recently struck the United States, such as this week's upcoming report on hiring. But investors are expecting to see temporarily weaker numbers, which would limit the impact, Chiavarone said.

General Motors and Ford Motor were some of the market's top performers after each reported strong U.S. sales growth for last month. It's a turnaround for automakers, which had seen sales drop across the industry through the year's first eight months.

GM climbed $1.30, or 3.1 percent, to $43.45, and Ford gained 25 cents, or 2.1 percent, to $12.34.

Homebuilder Lennar rose after it reported stronger quarterly sales and earnings than analysts expected. Interest rates remain relatively low, and the strengthening job market is helping to convince more people to buy homes. Lennar rose $2.53, or 4.8 percent, to $55.35.

Shares of Equifax and Wells Fargo both rose, even though representatives for the companies received tongue lashings on Capitol Hill.

Equifax climbed $2.64, or 2.4 percent, to $110.45 after House members grilled its former CEO over the data hack that exposed the personal information of 145 million Americans. Wells Fargo added 11 cents, or 0.2 percent, to $55.58 after a Senate committee questioned its CEO on the bank's sales-practice scandal, where employees had signed customers up for accounts without their knowledge.

The yield on the 10-year Treasury note fell to 2.32 percent from 2.34 percent late Monday. The two-year yield fell to 1.46 percent from 1.49 percent, and the 30-year yield dipped to 2.86 percent from 2.87 percent.


The dollar inched up to 112.90 Japanese yen from 112.65 yen late Monday. The euro rose to $1.1752 from $1.1746, and the British pound dipped to $1.3247 from $1.3286.

In overseas markets, France's CAC 40 rose 0.3 percent, and the FTSE 100 in London gained 0.4 percent. Japan's benchmark Nikkei 225 rose 1 percent to its highest closing level in two years, and Hong Kong's Hang Seng jumped 2.2 percent. Stock markets were closed in Germany, China and South Korea for holidays.

In the commodities market, gold slipped $1.20 to settle at $1,274.60 per ounce, silver was close to flat at $16.65 per ounce and copper rose 1 cent to $2.96 per pound.

Benchmark U.S. crude dipped 16 cents to settle at $50.42 per barrel. Brent crude, the standard for international oil prices, fell 12 cents to $56.00 per barrel. Natural gas fell 2 cents to $2.90 per 1,000 cubic feet, heating oil dropped 2 cents to $1.75 per gallon and wholesale gasoline rose a penny to $1.57 per gallon.


----------



## bigdog

https://www.usnews.com/news/busines...hares-rise-japan-falls-in-quiet-asian-trading

* Wavering Stocks Inch a Bit Further Into Record Heights *
*A wavering stock market inched a bit further into record territory on Wednesday, and the Standard & Poor's 500 index was on track to book a seventh straight gain, barely.*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks inched a bit further into record territory Wednesday after teeter-tottering through the day. The Standard & Poor's 500 index rose by just a sliver, but it was enough for a seventh straight gain.

The S&P 500 climbed 3.16 points, or 0.1 percent, to 2,537.74 after flipping between slight losses and gains through the day. The seven-day win streak is the index's longest since a similar run in May.

The Dow Jones industrial average rose 19.97 points, or 0.1 percent, to 22,661.64, and the Nasdaq composite picked up 2.91, or less than 0.1 percent, to 6,534.63. All three indexes added to records set a day earlier.

A report from payroll processor ADP said that hiring by private employers weakened sharply last month, a setback for an economy that had been enjoying a generally strengthening job market. But economists and investors were expecting a low number because of the damage done by hurricanes Harvey and Irma, which hopefully will be only temporary.

The government will release its more comprehensive jobs report on Friday, and economists are also forecasting a weaker number than a month earlier.

Other reports painted a more encouraging picture. One showed that the nation's services companies expanded last month at their fastest rate in more than a decade. The report from the Institute for Supply Management followed one on Monday that showed U.S. manufacturing is also growing strongly.

"Things continue to be very solid, and the economic numbers continue to be very strong not only here but throughout the world, which is what's driving this," said Kirk Hartman, global chief investment officer for Wells Fargo Asset Management.

Mylan surged to the biggest gain in the S&P 500 after federal regulators approved its generic version of Teva's Copaxone drug for multiple sclerosis. Mylan jumped $5.27, or 16.2 percent, to $37.80.


Utility stocks were also strong, and such stocks in the S&P 500 jumped 1.1 percent.

On the losing end was Office Depot, which plunged after it announced a $1 billion purchase of an IT services and products provider, while cutting its forecast for operating profit this year. Its stock fell 81 cents, or 17.6 percent, to $3.78.

Bond insurers were also weak after President Donald Trump suggested in an interview with Fox News that the federal government may "wipe out" Puerto Rico's debt following its struggle to recover from Hurricane Maria.

MBIA fell 73 cents, or 8.4 percent, to $7.95, Ambac Financial Group lost 98 cents, or 5.5 percent, to $16.70 and Assured Guaranty dropped $1.11, or 2.9 percent, to $37.58.

In the bond market, Treasury yields held relatively steady even as speculation rose about who the next chair of the Federal Reserve will be after Janet Yellen's term ends in February. President Trump has said previously that he may consider Yellen for another term, but other names have been floated in media reports including Kevin Warsh, a former Fed board member.

Under Yellen and her predecessor, Ben Bernanke, the Federal Reserve has unleashed unprecedented amounts of stimulus for the economy in hopes of recovering from the Great Recession. The central bank is now slowly pulling back the aid, and investors wonder if the next Fed chair may be more aggressive about it, or "hawkish," as Wall Street traders call it.

"I think it's reasonable to expect that the next Fed will be more hawkish," Hartman said. "To be fair, the Fed itself has signaled that it wants to be more hawkish. I am not a big believer that, in the near term, whoever gets the nod is going to do anything dramatic."


The yield on the 10-year Treasury edged down to 2.32 percent from 2.33 percent late Tuesday, while the two-year yield dipped to 1.47 percent from 1.48 percent.

Benchmark U.S. crude fell 44 cents to settle at $49.98 per barrel, while Brent crude, the standard for international oil prices, fell 20 cents to $55.80 per barrel.

Natural gas rose 5 cents to settle at $2.94 per 1,000 cubic feet, heating oil rose 2 cents to $1.77 a gallon and wholesale gasoline rose 2 cents to $1.58 per gallon.

Gold rose $2.20 to settle at $1,276.80, silver fell 3 cents to $16.62 per ounce and copper was close to flat at $2.96 per pound.

The dollar rose to 112.98 Japanese yen from 112.90 yen late Tuesday. The euro rose to $1.1764 from $1.1752, and the British pound inched up to $1.3250 from $1.3247.

In overseas markets, France's CAC 40 fell 0.1 percent, Germany's DAX gained 0.5 percent and the FTSE 100 in London was close to flat. Japan's Nikkei 225 added 0.1 percent, and the Hang Seng in Hong Kong climbed 0.7 percent.


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## bigdog

https://www.usnews.com/news/busines...s-flat-as-china-skorea-holidays-stunt-trading

* Stocks Rise; S&P 500 Matches Longest Winning Run in 4 Years *
*Yet another gain for the stock market on Thursday sent the Standard & Poor's 500 index higher for an eighth straight day, tying its longest streak since 2013.*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — The last time the stock market had this long a winning streak, Twitter shares weren't even a part of it yet.

Yet another gain for stocks on Thursday sent the Standard & Poor's 500 index higher for an eighth straight day, its longest winning streak since July 2013, which was months before Twitter shares started trading publicly. It's the latest step higher for a market that's methodically climbed to record after record for much of this year as both the economy and corporate profits have improved.

The S&P 500 rose 14.33 points, or 0.6 percent, to 2,552.07. The Dow Jones industrial average gained 113.75, or 0.5 percent, to 22,775.39 and the Nasdaq composite rose 50.73, or 0.8 percent, to 6,585.36. All three indexes added to their records set a day earlier, again.

All those moves higher actually have some professional investors a bit nervous, because even the healthiest markets tend to have some sharp sell-offs from time to time. The last time the S&P 500 had a pullback of just 5 percent was more than a year ago.

"What's really troubling most people more than anything is that we just go straight up," said JJ Kinahan, chief strategist at TD Ameritrade. "There hasn't been a pullback. That's what most on Wall Street are trying to come to grips with."

Encouraging reports on the economy have been helping stocks, and on Thursday they included a stronger-than-expected rebound in U.S. factory orders during August and a drop in the number of workers applying for unemployment benefits last week.

Friday's report from the Labor Department on monthly job growth will likely show momentum in the opposite direction, with most economists forecasting a drop-off in hiring. But that's mostly because of damage caused by recent hurricanes, which hopefully will be only temporary.


With the economy and corporate earnings seemingly solid, TD Ameritrade's Kinahan said if there is a trigger for a downturn in stocks, it would likely be either a new flash in political tensions with North Korea or somewhere else in the world, or a stumble in Washington's progress to reform the tax system.

Netflix jumped to the biggest gain in the S&P 500 Thursday after it raised the price on its most popular U.S. video streaming plan by 10 percent. Shares rose $9.94, or 5.4 percent, to $194.39.

Constellation Brands was close behind after it reported stronger earnings for the latest quarter and raised its forecast for upcoming profit. The company has been focusing on the higher end of the beer, wine and spirits markets. Its stock rose $8.07, or 4 percent, to $209.25.

On the losing end was student-loan servicing company Navient, which fell $2.09, or 14.3 percent, to $12.61. It said it was buying Earnest, a lender, for $155 million and would suspend its stock buyback program through 2018. Pennsylvania's attorney general also alleged in a lawsuit filed Thursday that Navient improperly added billions of dollars in costs to borrowers.

The yield on the 10-year Treasury note climbed to 2.34 percent from 2.32 percent late Wednesday. Higher interest rates tend to help financial stocks on the expectation that banks will make bigger profits from lending, and financials in the S&P 500 rose 1 percent.

Stock markets overseas were generally quiet, as exchanges in several of Asia's biggest exchanges were closed for holidays. Japan's Nikkei 225 index was virtually flat, France's CAC 40 rose 0.3 percent, Germany's DAX was close to flat and the FTSE 100 in London rose 0.5 percent.


The dollar fell to 112.85 Japanese yen from 112.98 yen late Wednesday. The euro dipped to $1.1708 from $1.1764, and the British pound slipped to $1.3116 from $1.3250.

In the commodities markets, benchmark U.S. crude rose 81 cents, or 1.6 percent, to settle at $50.79 per barrel. Brent crude, the standard for international oil prices, rose $1.20 to $57 per barrel.

In other energy trading, heating oil rose 1 cent to $1.79 a gallon, wholesale gasoline rose 3 cents to $1.61 a gallon and natural gas fell 2 cents to $2.92 per 1,000 cubic feet.

The price of gold fell $3.60 to $1,273.20 an ounce, silver edged up 1 cent to $16.64 an ounce and copper jumped 9 cents to $3.05 a pound.


----------



## bigdog

https://www.usnews.com/news/busines...ise-in-asia-riding-wall-street-winning-streak

* Stocks Fade From Records; S&P 500 Breaks Winning Streak *
*U.S. stocks faded a bit from their record highs on Friday after telecom and energy stocks sank.*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks faded a bit from their record highs on Friday after telecom and energy stocks sank. The loss for the Standard & Poor's 500 index was small, but it was the first in nearly two weeks.

Much of the day's action was centered on the government's jobs report, which is usually the most anticipated economic data of each month, but it was a muddled one.

Economists cautioned not to read too much into the hiring numbers, which were far weaker than expected, because they were distorted by hurricanes that damaged businesses from Texas to Florida. Investors focused instead on a stronger-than-expected rise in workers' wages, which helped to push Treasury yields higher.

The S&P 500 fell 2.74 points, or 0.1 percent, to 2,549.33. The loss meant the end of the longest winning streak for the index in four years. Roughly nine stocks fell for every five that rose on the New York Stock Exchange.

The Dow Jones industrial average slipped 1.72, or less than 0.1 percent, to 22,773.67. The Nasdaq composite added 4.82, or 0.1 percent, to 6,590.18. All three indexes had closed at records on Thursday.

The government's jobs report showed that employers cut more jobs last month than they added, the first time that's happened in seven years. It's a sharp turnaround from earlier this year, when the strengthening job market was encouraging investors to push stocks higher and higher.

Hurricanes Harvey and Irma meant the closure of thousands of businesses, and drops in employment at restaurants and bars were a big driver of last month's decline.

Many investors saw September's job losses as an aberration. Other economic data have been more encouraging, including strong reports on the nation's manufacturing and services sectors earlier this week.


Friday's jobs report also contained signs of strength. Average hourly wages jumped 2.9 percent in September from a year earlier, more than economists expected. Some of that may be due to how many lower-wage jobs were lost following the hurricanes, but the government also revised up its figure for wage growth in August.

"The previous month's revision, that probably has the most information" of all the data points in the government's jobs report, said Jon Adams, senior investment strategist at BMO Global Asset Management. "From the Fed's perspective, this doesn't change anything in terms of overall policy, but it makes them a little more worried about inflation."

If rising wage growth feeds into higher prices across the economy, it makes the Fed that much more likely to keep raising rates from their record lows. As a result, investors made moves Friday in anticipation of a rate increase in December.

The yield on the 10-year Treasury jumped as high as 2.39 percent shortly after the release of the jobs report, up from 2.35 percent late Thursday. The gains faded later in the day, which traders said may have been due to worries about tensions with North Korea. A Russian lawmaker said that North Korea is preparing to test-fire a long-range missile soon.

By Friday evening, the 10-year yield sat at 2.36 percent. The two-year Treasury yield climbed to 1.52 percent from 1.49 percent, and the 30-year yield rose to 2.91 percent from 2.89 percent.

When bonds pay higher yields, it makes them more attractive to investors looking for income and undercuts demand for stocks that pay relatively big dividends.

Telecom stocks in the S&P 500 fell 2 percent, the largest drop among the 11 sectors that make up the index.


Energy stocks were also among the market's weakest after the price of benchmark U.S. crude sank $1.50, or 3 percent, to settle at $49.29 per barrel. It's the fourth drop for oil in the last five days. Brent crude, the international standard, lost $1.38, or 2.4 percent, to $55.62 per barrel.

Costco Wholesale fell the most in the S&P 500 despite reporting stronger earnings for the latest quarter than expected. Analysts pointed to a slight drop in its membership renewal rates, among other factors. Costco lost $9.98, or 6 percent, to $157.09.

In overseas markets, the FTSE 100 in London rose 0.2 percent, France's CAC 40 fell 0.4 percent and Germany's DAX dipped 0.1 percent. Japan's Nikkei 225 rose 0.3 percent, and the Hang Seng in Hong Kong added 0.3 percent.

In the currency market, the dollar slipped to 112.71 Japanese yen from 112.85 yen late Thursday. The euro rose to $1.1735 from $1.1708, and the British pound fell to $1.3065 from $1.3116.

In the commodities markets, natural gas fell 6 cents to settle at $2.86 per 1,000 cubic feet, wholesale gasoline lost 5 cents to $1.56 per gallon and heating oil fell 4 cents to $1.74.

Gold rose $1.70 to settle at $1,274.90 per ounce, silver gained 15 cents to $16.79 per ounce and copper fell 2 cents to $3.03 per pound.

4200


----------



## bigdog

*Markets in Japan and South Korea were closed for holidays.*






https://www.usnews.com/news/busines...markets-advance-after-strong-wall-street-week

* Health Care and Industrial Companies Lead US Stocks Lower *
*US stocks end lower on a quiet day of trading as health care and industrial companies skid.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Losses for health care companies and banks left U.S. stocks lower Monday after a quiet day of trading. Industrial conglomerate General Electric skidded after announcing more changes in its leadership.

Companies that distribute or sell prescription drugs continued to slide following speculation that Amazon plans to get into that business, something the company has not confirmed.

Banks dipped after a big rally over the last month and technology companies continued to climb. Smaller, more domestically-focused companies declined as investors tried to gauge the odds for tax cuts.

Stocks have rallied over the last two weeks as investors hope tax cuts proposed by the Trump administration and Congressional Republicans will boost corporate profits. But over the weekend President Donald Trump entered a war of words with Senator Bob Corker, a retiring Republican who has a reputation as a budget hawk. Republicans have a narrow majority and losing just a few votes could derail a bill.

"There really is not much leeway there," said Mona Mahajan, U.S. investment strategist for Allianz Global Investors. "They somehow have to get their act together."

The Standard & Poor's 500 index dipped 4.60 points, or 0.2 percent, to 2,544.73. The Dow Jones industrial average shed 12.60 points, or less than 0.1 percent, to 22,761.07. The Nasdaq composite fell 10.45 points, or 0.2 percent, to 6,579.73, which ended a nine-day winning streak. The Russell 2000 index of smaller-company stocks lost 6.66 points, or 0.4 percent, to 1,503.56.

Stock trading was light because of the Columbus Day holiday in the U.S. Bond trading was closed.

General Electric slipped after it named Ed Garden of Trian Fund Management to its board of directors. Trian, a well-known activist investment firm founded by Nelson Peltz, has been pushing the conglomerate to slim down. GE lost 96 cents, or 3.9 percent, to $23.43. It's down 26 percent this year.


GE has announced slew of changes in its leadership this month. John Flannery replaced Jeffrey Immelt as CEO a week ago, several months ahead of the schedule the company announced in June. On Friday GE said Chief Financial Officer Jeffrey Bornstein will leave at the end of the month. Two vice chairs are also retiring.

Health care companies did worse than the rest of the market. Companies that distribute or sell prescription medicines or administer prescription drug benefits tumbled for a second day as investors continued to worry about Amazon entering the prescription drug business. Analysts raised that possibility Friday. Amazon has declined to comment.

Pharmacy benefits manager Express Scripts lost $3.14, or 5 percent, to $59.22 and prescription drug distributor McKesson dropped $3.15, or 2.1 percent, to $148.14 while Walgreens gave up $2.33, or 3.2 percent, to $70.87, its lowest close in more than a year and a half.

Medical device maker Medtronic gave up $2.88, or 3.6 percent, to $76.93. The company said late Friday that Hurricane Maria will reduce its quarterly profit and revenue by about $250 million. Medtronic has four facilities in Puerto Rico that were damaged by the storm and manufacturing won't fully recover for weeks.

Third-quarter earnings reports will start later this week when major banks start announcing their results. Investors expect continued strong results from technology companies. The industry has led the market higher for most of this year. Chipmaker Nvidia added $4.09, or 2.3 percent, to $185.39 and cloud computing company Citrix Systems gained $1.15, or 1.4 percent, to $80.62.


Three major hurricanes hit the U.S. in the last two months, and experts expect that to affect economic growth and corporate profits.

"One of the sectors that we think is going to get hit is the insurance sector because they're going to be paying out all these claims," said Mahajan, of Allianz. She said the storms will reduce third-quarter economic growth by 0.4 percent. Historically, the economy bounces back from major storms quickly as people rebuild damaged areas.

Electric car maker Tesla declined after the Wall Street Journal reported on the company's struggles in producing its new, lower-priced Model 3 Sedan. The Journal reported Friday that Tesla workers were making some Model 3 parts by hand as recently as September. Last week Tesla missed its third-quarter production goals. The stock fell $13.94, or 3.9 percent, to $342.94.

Benchmark U.S. crude rose 29 cents to $49.58 a barrel in New York as Tropical Storm Nate moved away from the Gulf Coast, where much of U.S. crude is drilled and processed. Nate hit Southeastern Louisiana Saturday evening and Mississippi on Sunday, but was downgraded to a tropical depression by midday Sunday.

Brent crude, used to price international oils, added 17 cents to $55.79 a barrel in London.

Wholesale gasoline stayed at $1.56 a gallon. Heating oil lost 1 cent to $1.74 a gallon. Natural gas shed 3 cents to $2.83 per 1,000 cubic feet.

Gold added $10.10 to $1,285 an ounce. Silver climbed 18 cents, or 1.1 percent, to $16.97 an ounce. Copper remained at $3.03 a pound.

The dollar slipped to 112.69 yen from 112.71 yen. The euro rose to $1.1752 from $1.1735.


The DAX in Germany rose 0.2 percent and the CAC 40 of France added 0.1 percent. The British FTSE 100 fell 0.2 percent. Hong Kong's Hang Seng lost 0.5 percent. Markets in Japan and South Korea were closed for holidays.


----------



## bigdog

https://www.usnews.com/news/busines...res-mixed-as-wall-street-rally-takes-breather

* Stocks Rise After Strong Forecasts From Wal-Mart, Airlines *
*US stocks are higher after Wal-Mart projected strong growth in online sales and United Airlines and American Airlines raised their forecasts for the third quarter.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks are edging higher on Tuesday as a strong forecast from Wal-Mart lifts retailers and energy companies rise with the price of crude oil. Airlines are climbing after United Continental and American gave solid forecasts for the current quarter. Consumer products company Procter & Gamble is slipping after saying its shareholders did not elect activist investor Nelson Peltz to its board of directors.

KEEPING SCORE: The Standard & Poor's 500 index added 4 points, or 0.2 percent, to 2,548 as of 3:15 p.m. Eastern time. The Dow Jones industrial average gained 51 points, or 0.2 percent, to 22,812, on pace for another record high. Wal-Mart was responsible for most of that gain. The Nasdaq composite rose 2 points to 6,582. The Russell 2000 index of smaller-company stocks rose 2 points, or 0.2 percent, to 1,506.

RETAIL SURGE: Wal-Mart climbed after it said it expects digital sales to rise 40 percent next year. The company has made a string of acquisitions, including online retailer Jet, as it tries ramp up its online sales to compete with Amazon.com. Wal-Mart also said it plans to buy back $20 billion of its own stock. Wal-Mart gained $4.31, or 5.4 percent, to $84.85. Target rose $1.27, or 2.2 percent, to $57.52 and Amazon declined $7.55 to $983.44.

THE QUOTE: Katie Nixon, chief investment officer for Northern Trust Wealth Management, said Wal-Mart's online business is critical to its survival, so investors are glad to see signs of success.

"There's very little retail loyalty now," she said. "Consumers just want choice, price and convenience."

TAKEOFF: Airlines rose after American raised an important revenue forecast and United Continental predicted bigger profit margins. Airlines have been stung by a series of hurricanes that affected the Southeastern U.S. over the last few months. Investors are worried about extensive discounts on ticket prices, but so far their third-quarter results look better than expected.


United jumped $3.56, or 5.5 percent, to $68.26 and American rose $2.57, or 5.1 percent, to $53.17. Delta gave a positive update of its own a week ago, and on Tuesday it picked up $1.30, or 2.5 percent, to $53.04.

KNOCK-KNOCK: Procter & Gamble stumbled after saying its shareholders did not elect Peltz to its board. Preliminary vote totals showed a close result and Peltz did not immediately concede defeat.

Peltz, of Trian Fund Management, says the company's performance has been disappointing for the last decade. The maker of Tide detergent and Crest toothpaste urged shareholders to vote against Peltz and says he hasn't offered any specific ideas. The stock fell $1.06, or 1.2 percent, to $91.06 after Procter & Gamble's announcement.

BREAKUPS: Industrial conglomerate Honeywell said it will split up. It will keep its aerospace business, while its transportation business will become a separate company. Honeywell's home heating, ventilation and security systems and fire prevention unit and its global distribution business will become a third company. Honeywell lost 28 cents to $143.32.

Pfizer said it might sell or spin off its consumer products business, which owns brands like ChapStick, Advil, Robitussin and Preparation H. It expects to make a decision next year. Pfizer rose 9 cents to $36.23.

ENERGY: Benchmark U.S. crude oil added $1.34, or 2.7 percent, to $50.92 a barrel in New York. Brent crude, used to price international oils, gained 82 cents, or 1.5 percent, to $56.61 a barrel in London.


Wholesale gasoline added 3 cents to $1.59 a gallon. Heating oil picked up 3 cents to $1.76 a gallon. Natural gas jumped 6 cents to $2.89 per 1,000 cubic feet.

CARS AND CHIPS: Chipmaker Nvidia will work with Deutsche Post DHL to start testing autonomous delivery trucks in 2018. The stock rose $3.58, or 1.9 percent, to $188.97. It's climbed more than 1,000 percent in three years.

Automotive parts and electronics maker Delphi slumped. Delphi has announced several partnerships to develop and test autonomous cars, including a pact with a French transport company. It lost $1.23, or 1.2 percent, to $98.89. Intel, one of Delphi's partners in that business, shed 33 cents to $39.53.

CURRENCIES: The dollar slipped to 112.37 yen from 112.69 yen. The euro rose to $1.1804 from $1.1752.

METALS: Gold climbed $8.80 to $1,293.80 an ounce and silver jumped 24 cents to $17.21 an ounce. Copper rose 3 cents to $3.06 a pound.

BONDS: Bond prices moved higher. The yield on the 10-year Treasury note slipped to 2.34 percent from 2.36 percent.

OVERSEAS: Germany's DAX slipped 0.2 percent while Britain's FTSE 100 added 0.4 percent. The CAC 40 in France fell slightly. Japan's Nikkei 225 index gained 0.6 percent to its highest close in 21 years. South Korea's Kospi jumped 1.7 percent after a weeklong holiday. The Hang Seng index in Hong Kong climbed 0.6 percent.


----------



## bigdog

https://www.usnews.com/news/busines...higher-after-wall-street-sets-new-record-high

* Tech and Health Care Stocks Take Indexes Back to Records *
*US stocks edge up just enough to set more records as technology, health care and household goods companies move higher.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stock indexes drifted back to record highs Wednesday as investors got ready for another round of corporate reports to begin. Technology, health care and household goods companies all rose.

Technology companies like PayPal, Visa, and Google's parent company Alphabet made some of the biggest gains as the market was little changed for the third day in a row. Banks slipped along with interest rates and industrial companies took small losses.

Minutes from the Federal Reserve's September meeting showed officials were split about whether they need to raise interest rates again soon. But they appeared to be getting used to the idea that inflation is going to stay lower than they had hoped. For years it's come up short of their 2-percent target.

Kristina Hooper, global markets strategist for Invesco, said one reason for that low inflation is continued fallout from the financial crisis a decade ago. In her view, many of the jobs that were lost after the 2008-09 meltdown were replaced by lower-paying ones.

"There are still a good portion of Americans who are making less today than they made before the global financial crisis," she said. "That's playing a role in lower wage growth and low inflation."

The Standard & Poor's 500 index gained 4.60 points, or 0.2 percent, to 2,555.24. The Dow Jones industrial average added 42.21 points, or 0.2 percent, to 22,872.89. The Nasdaq composite rose 16.30 points, or 0.2 percent, to 6,603.55. All three indexes finished at all-time highs. The Russell 2000 index of smaller-company stocks edged down 1.08 points, or 0.1 percent, to 1,506.92.

Hooper said inflation might increase if President Donald Trump and Congress pass a tax cut that encourages businesses to invest more money. She said that businesses and consumers both feel optimistic about the economy, but they're reluctant to spend money because they're not sure what economic policy will look like.


Airlines rose for the second day in a row. Delta Air Lines' profit and revenue were better than analysts anticipated, and the company also issued a strong forecast for the fourth quarter. Delta rose 37 cents to $53.07. It has surged 9 percent since Oct. 3, when it raised its third-quarter projections. JetBlue gained 30 cents, or 1.5 percent, to $20.53 after it gave an update on the revenue it lost following hurricanes Irma and Maria.

Johnson & Johnson led health care companies higher after it asked regulators to approve its drug apalutamide. It's intended for patients with a hard-to-treat form of prostate cancer. Johnson & Johnson stock climbed $2.75, or 2.1 percent, to $136.65.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.35 percent from 2.36 percent. That sent affected bank stocks because lower yields mean lower interest rates on loans, and lower profits for banks.

JPMorgan Chase and Citigroup will report their quarterly results Thursday morning as bank earnings get started.

An upset loss by the U.S. men's soccer team dented shares of Twenty-First Century Fox. The team will miss the 2018 World Cup following its loss to Trinidad and Tobago. That could cut into advertising revenue for Fox, which will broadcast the event. The stock fell 66 cents, or 2.5 percent, to $26.11.

Luxury handbag and accessories maker Coach said it will change its name to Tapestry at the end of October. It bought the Kate Spade and Stuart Weitzman brands over the last few years and said it wants its name to reflect its growth beyond the iconic Coach brand. The stock lost $1.13, or 2.8 percent, to $38.87.


Sears sagged after the company's former Canadian unit asked a court to allow it to liquidate its 130 remaining stores. Sears Canada said it couldn't find a buyer to allow it to stay in business. Sears Canada was split off from Sears Holdings in 2014, but the U.S. business has also been struggling for years and investors are unsure about its future. On Wednesday the stock lost 46 cents, or 6.9 percent, to $6.24.

Benchmark U.S. crude oil rose 38 cents to $51.30 a barrel in New York. Brent crude, used to price international oils, added 33 cents to $56.94 a barrel in London.

Wholesale gasoline picked up 2 cents to $1.61 a gallon. Heating oil gained 2 cents to $1.79 a gallon. Natural gas remained at $2.89 per 1,000 cubic feet.

Gold fell $4.90 to $1,288.90 an ounce. Silver lost 7 cents to $17.13 an ounce. Copper gained 4 cents to $3.10 a pound.

The dollar rose to 112.42 yen from 112.37 yen. The euro rose to $1.1855 from $1.1804.

The German DAX added 0.2 percent and the FTSE 100 in Britain slipped 0.1 percent. France's CAC 40 took a small loss. The Spanish Ibex 35 rose 1.3 percent after the Catalan regional government stopped short of declaring independence. Late Tuesday regional President Carles Puigdemont said Catalonia should hold talks with the Spanish central government after a landslide result in an independence referendum earlier this month.

The Madrid-based government has given few hints it is willing to talk since it does not consider the vote to be valid.

Japan's Nikkei 225 index rose 0.3 percent and closed at another 21-year high. South Korea's Kospi rose 1 percent but the Hang Seng in Hong Kong ended 0.4 percent lower.


----------



## bigdog

https://www.usnews.com/news/busines...mostly-rise-taking-cue-from-wall-street-gains

* Media and Retail Losses Pull Stock Indexes Away From Highs *
*Major stock indexes slip as a weak forecast from J. Jill hurts retailers while cable and media companies skid after AT&T says it's losing video subscribers.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stock indexes retreated from their record highs Thursday as retailers and media companies declined and investors shrugged at quarterly reports from a few big banks.

Clothing companies and other retailers fell after women's clothing company J. Jill slashed its third-quarter forecast. The company's stock lost more than half its value.

AT&T had its worst one-day loss since 2008 after it said lost more satellite and cable TV subscribers in the third quarter. Other cable and satellite TV companies also stumbled. Industrial companies and household goods makers finished higher.

JPMorgan Chase and Citigroup both did better than analysts expected in the third quarter, but their stocks fell and so did shares of other banks. They've made big gains over the last month.

CFRA Investment Strategist Lindsey Bell said the companies reported good results from their consumer banking businesses, but other divisions didn't do as well.

"The bar was set kind of high," she said. "Given the run that these stocks have had into these earnings reports, they're going to need to see these other businesses pick up steam."

The Standard & Poor's 500 index fell 4.31 points, or 0.2 percent, to 2,550.93. The Dow Jones industrial average lost 31.88 points, or 0.1 percent, to 22,841.01. The Nasdaq composite dipped 12.04 points, or 0.2 percent, to 6,591.51. Those three indexes closed at record highs Wednesday. The Russell 2000 index of smaller-company stocks slumped 1.76 points, or 0.1 percent, to 1,505.16.

More stocks rose than fell on the New York Stock Exchange.

AT&T said it lost about 90,000 DirecTV video subscribers in the U.S. in the third quarter because of growing competition in streaming video services. That's a bigger drop than the one it reported a year ago even though it's launched DirecTV Now, an online service that doesn't cost as much. The company said tighter credit standards and hurricanes also affected its business. AT&T stock fell $2.33, or 6.1 percent, to $35.86.


Verizon Communications shed 51 cents, or 1 percent, to $48.35 and cable provider Comcast fell $1.47, or 3.8 percent, to $35.95. Dish Network slid $2.62, or 5.1 percent, to $49.03. Cable channel operator Discovery Communications lost 72 cents, or 3.6 percent, to $19.28.

Industrial and transportation companies like railroads did better than the rest of the market. Machinery maker Caterpillar gained $1.39, or 1.1 percent, to $129.99 and railroad operator Norfolk Southern rose $2.20, or 1.7 percent, to $133.69.

Citigroup said its investment banking business did well in the latest quarter, while JPMorgan Chase said its consumer banking business improved compared to a year ago. But Citigroup fell $2.57, or 3.4 percent, to $72.37 and JPMorgan gave up 85 cents to $95.99.

Bell, of CFRA Research, noted that banks have jumped and regional bank stocks have done especially well over the last month, but the third quarter is a tricky one for many banks because stock and bond market trading is fairly quiet.

J. Jill stock nosedived after the retailer of women's clothes, shoes and accessories slashed its outlook for the third quarter. The company said retail and direct-to-consumer sales both fell short of its expectations and cut its earnings forecast in half. J. Jill stock opened at $13 a share after its March IPO and on Thursday it plunged $5.07, or 51.1 percent, to $4.86.

Retailer Express sank 53 cents, or 8.3 percent, to $5.88 and Chico's FAS lost 57 cents, or 7.2 percent, to $7.40. Gap lost $1.21, or 4.3 percent, to $27.21.

Southwest Airlines rose and Hawaiian skidded after Southwest said it plans to start flying to Hawaii. It will start selling tickets for those flights in 2018. Southwest stock picked up 26 cents to $58.81 while Hawaiian Holdings lost $1, or 2.5 percent, to $39.

Benchmark U.S. crude oil lost 70 cents, or 1.4 percent, to $50.60 a barrel in New York. Brent crude, used to price international oils, fell 69 cents, or 1.2 percent, to $56.25 a barrel in London. That weighed on energy companies.

Wholesale gasoline dipped 3 cents to $1.58 a gallon. Heating oil shed 2 cents to $1.77 a gallon. Natural gas jumped 10 cents, or 3.5 percent, to $2.99 per 1,000 cubic feet.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.32 percent from 2.35 percent.

Gold rose $7.60 to $1,296.50 an ounce. Silver gained added 13 cents to $17.27 an ounce. Copper added 2 cents to $3.12 a pound.

The dollar inched down to 112.22 yen from 112.42 yen. The euro declined to $1.1836 from $1.1855.

The British FTSE 100 index rose 0.3 percent and closed at a record high as the pound dropped. That came after a European Union regulator said talks with Britain about its departure from the EU hadn't made any significant progress. The DAX in Germany continued to set records as it inched up 0.1 percent. France's CAC 40 fell less than 0.1 percent.

Japan's benchmark Nikkei 225 continued to reach 21-year highs and added 0.4 percent. The South Korean Kospi rose 0.7 percent and Hong Kong's Hang Seng advanced 0.3 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ubdued-as-investors-brace-for-earnings-season

* Gains for Tech Help US Stocks Higher, but Insurers Skid *
*Technology companies lead US stocks higher and retailers and travel companies rise after the government says retail spending increased in September.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks finished mostly higher Friday to wrap up a subdued week, and technology companies did most of the heavy lifting. Investors were also pleased to see that shoppers spent more money in September.

Printer and PC maker HP sent technology companies higher after releasing a strong profit forecast for next year. Big names like Intel and Facebook also rose. Companies in retail, travel and entertainment moved up after the Commerce Department's report on retail spending. Health insurers and hospital operators skidded after President Donald Trump said he will stop government payments to insurance companies under the Affordable Care Act.

Bank of America climbed while Wells Fargo faded as banks continued to report their third-quarter results. But in the early going, investors don't seem as excited about this round of company earnings compared to earlier in the year. Sean Lynch, the co-head of global equity strategy for Wells Fargo Investment Institute, said that unless this batch of corporate reports is surprisingly good, stocks won't rise much further.

"If we come in at expectations or slightly above, I think markets maintain these gains," he said. Lynch said earnings for Standard & Poor's 500 companies should rise five or six percent for the quarter. If that doesn't happen, he said the S&P 500 could decline four or five percent by the end of the year. That's not a huge loss, but stocks haven't fallen that much since early 2016.

The Standard & Poor's 500 index added 2.24 points, or 0.1 percent, to 2,553.17. The Dow Jones industrial average picked up 30.71 points, or 0.1 percent, to 22,871.72. The Nasdaq composite gained 14.29 points, or 0.2 percent, to close at a record high of 6,605.80. The Russell 2000 index of smaller-company stocks slid 2.51 points, or 0.2 percent, to 1,502.66.


The Commerce Department said retail sales grew 1.6 percent in September after a small decline in August. Much of the gain came from car and gasoline sales: sales of cars jumped as people living in the Southeast and Gulf Coast replaced vehicles that were destroyed by hurricanes Harvey and Irma, which also caused temporary spikes in gas prices. But other types of spending grew by a solid amount as well.

HP forecast a larger annual profit than analysts expected, and also said it will return at least 50 percent of its free cash flow to shareholders by paying dividends or buying back stock. HP stock gained $1.31, or 6.4 percent, to $21.71.

The White House said late Thursday that it is stopping subsidy payments to insurers under the 2010 health care law. Those payments help reduce copays and deductibles for people with lower incomes. The move could increase losses for insurers and reduce payments to hospitals and other health care facilities. Adding to the uncertainty, the sign-up period for subsidized private insurance starts Nov. 1.

Medicaid program administrator Centene lost $3.12, or 3.2 percent, to $90.56 and insurer Anthem gave up $5.81, or 3.1 percent, to $184.38. Hospital operator Tenet dropped 71 cents, or 5.1 percent, to $13.15 and ambulatory surgery center operator Envision Healthcare fell 91 cents, or 2.2 percent, to $40.74.

Bond prices rose. The yield on the 10-year Treasury note declined to 2.27 percent from 2.32 percent.

Materials companies rose with metals prices. Gold gained $8.10 to $1,304.60 an ounce. Silver climbed 15 cents to $17.41 an ounce. Copper rose 1 cent to $3.13 a pound.


Steelmakers climbed after Bloomberg News reported that China imported a record amount of iron ore in September and exported less steel. That sent prices higher. U.S. Steel climbed $1.80, or 7 percent, to $27.36 and AK Steel added 31 cents, or 5.6 percent, to $5.80.

Utility PG&E continued to tumble as investors wondered if the company will face penalties connected to the California wildfires. Officials said this week they are investigating the possibility that downed power lines or other faulty equipment touched off the fires, which have killed 31 people and destroyed at least 3,500 homes since Sunday.

PG&E stock dropped 6.7 percent Thursday and fell another $6.78, or 10.5 percent, to $57.72 on Friday. Citi Investment Research analyst Praful Mehta said the company lost $2.2 billion in value Thursday alone, and even if PG&E were found responsible and grossly negligent for the fires, he says it probably wouldn't be fined much more than that.

Benchmark U.S. crude oil picked up 85 cents, or 1.7 percent, to $51.45 a barrel in New York. Brent crude, used to price international oils, gained 92 cents, or 1.6 percent, to $57.17 a barrel in London.

Wholesale gasoline rose 4 cents to $1.62 a gallon. Heating oil added 3 cents to $1.80 a gallon. Natural gas edged up 1 cent to $3 per 1,000 cubic feet.

The dollar fell to 111.89 yen from 112.22 yen. The euro dipped to $1.1817 from $1.1836.

The DAX in Germany rose 0.1 percent while the FTSE 100 index in Britain lost 0.3 percent. The French CAC 40 fell 0.2 percent. Japan's Nikkei 225 rose 1 while South Korea's Kospi lost 0.1 percent. In Hong Kong, the Hang Seng added 0.1 percent.

4432


----------



## bigdog

https://www.usnews.com/news/busines...-higher-after-finance-leaders-back-easy-money

* US Stock Indexes Post Slight Gains, Extending Winning Streak *
*U.S. stocks posted modest gains Monday, extending a record-setting run into a sixth straight week.*

By ALEX VEIGA, AP Business Writer

U.S. stocks posted modest gains Monday, extending a record-setting run into a sixth straight week.

Financial and technology companies notched some of the biggest gains. Energy stocks also rose as crude oil prices closed higher. Health care companies declined the most. Bond prices fell.

The three major stock indexes closed at new highs, despite a day of mostly listless trading as investors looked ahead to a slew of company earnings reports over the next few weeks.

"Today is a sort of wait-and-see market as investors are really looking for the direction of earnings and whether companies continue to report strong results," said Kate Warne, investment strategist at Edward Jones. "That will be a catalyst for stocks to move higher."

The Standard & Poor's 500 index added 4.47 points, or 0.2 percent, to 2,557.64. Last week marked the index's fifth-straight weekly gain.

The Dow Jones industrial average rose 85.24 points, or 0.4 percent, to 22,956.96. The Nasdaq composite gained 18.20 points, or 0.3 percent, to 6,624. The Russell 2000 index of smaller-company stocks inched up 0.02 points to 1,502.68.

Trading was subdued for most of the day Monday. Stocks edged up early on and wavered somewhat by afternoon but ultimately held on to their slight gains as traders awaited for more quarterly results from companies to pour in.

A few companies, mostly big banks, kicked off the third-quarter earnings season last week. Monday was a relatively light day for earnings, but the pace was slated to pick up on Tuesday and into next week, when the bulk of S&P 500 companies are scheduled to report quarterly results.

Among the companies due to report earnings this week are Goldman Sachs, UnitedHealth Group, American Express and General Electric.

In the meantime, investors bid up shares in banks and technology companies. The sectors are the biggest gainers in the S&P 500 so far this year. JPMorgan Chase gained $1.98, or 2.1 percent, to $97.84. Micron Technology rose $1.09 or 2.7 percent, to $41.49.

"Tech and financials are somewhat higher as investors continue to expect good earnings ahead," Warne said.

Health care stocks declined the most. Allergan fell $7.11, or 3.5 percent, to $198.41, while Bristol-Myers Squibb slid $1.64, or 2.5 percent, to $63.65.

Traders bid up shares of companies announcing deals.

Ruby Tuesday jumped 18.6 percent after the struggling restaurant chain said it has agreed to be acquired by NRD Capital in a deal valued by the companies at $335 million, or $2.40 a share, including debt and other items. The stock added 37 cents to $2.36.

KBR climbed 3.6 percent after the engineering and construction company said it will buy Australian defense technology company Sigma Bravo. Shares in KBR added 64 cents to $18.29.

Nordstrom slid 5.3 percent after the department store chain said it is temporarily shelving its bid to go private. The stock shed $2.25 to $40.40.

Sears Holdings slumped 11.5 percent on news that Bruce Berkowitz, who runs a firm that is the retailer's biggest shareholder, is leaving Sears' board of directors. Sears shed 78 cents to $5.99.

Oil prices rose amid rising tensions in the Middle East as Iraqi federal forces moved into the disputed city of Kirkuk and seized oil fields, prompting a withdrawal by Kurdish forces. Benchmark U.S. crude oil picked up 42 cents, or 0.8 percent, to $51.87 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, climbed 65 cents, or 1.1 percent, to $57.82 a barrel in London.

That helped boost energy companies. Apache rose 90 cents, or 2.2 percent, to $42.50.

In other energy trading, wholesale gasoline was little changed at $1.62 a gallon. Heating oil added 2 cents to $1.81 a gallon. Natural gas slid 5 cents to $2.95 per 1,000 cubic feet.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.30 percent from 2.27 percent late Friday.

Gold lost $1.60 to $1,303 an ounce. Silver slid 4 cents to $17.37 an ounce. Copper rose 11 cents, or 3.4 percent, to $3.24 a pound.

The dollar rose to 112.22 yen from 111.89 yen on Friday. The euro weakened to $1.1792 from $1.1817.

Global stocks closed mostly higher after finance leaders appealed over the weekend for a continuation of low-interest rate policies to keep economic recoveries on track.

In Europe, Germany's DAX rose 0.1 percent, while France's CAC 40 gained 0.2 percent. The FTSE 100 in London slipped 0.1 percent.

Japan's Nikkei 225 index added 0.5 percent and Hong Kong's Hang Seng index surged 0.8 percent. South Korea's Kospi rose 0.3 percent, while the S&P ASX/200 added 0.6 percent. India's Sensex picked up 0.6 percent. Shares in Southeast Asia were higher.


----------



## bigdog

https://www.usnews.com/news/business/articles/2017-10-17/asian-stocks-gain-after-wall-street-records

* US Stock Indexes Close Mostly Higher; New Highs for Dow, S&P *
*Gains by health care companies led U.S. stocks indexes mostly higher Tuesday, pushing the market further into record territory.*

By ALEX VEIGA, AP Business Writer

Gains by health care companies led U.S. stock indexes mostly higher Tuesday, pushing the market further into record territory.

The Dow Jones industrial average briefly climbed above the 23,000 mark for the first time, settling just below the milestone. Slight gains nudged the Dow and Standard & Poor's 500 indexes to new highs for the second straight day this week.

Health care companies posted some of the biggest gains following strong earnings from UnitedHealth Group and Johnson & Johnson. News of a plan backed by the White House that would extend federal payments to health insurers also gave the sector a boost. Banks and other financial stocks declined the most. Packaged food and beverage companies were also big laggards.

Trading was mostly listless as investors sized up the latest company earnings news and looked ahead to a full slate of corporate report cards later this week.

"Expectations of ongoing earnings growth are reasonably strong, but there may be a bit of a wait-and-see at this point in time given the run in the equity markets," said Jason Pride, director of investment strategy at Glenmede.

The S&P 500 index added 1.72 points, or 0.1 percent, to 2,559.36. The Dow picked up 40.48 points, or 0.2 percent, to 22,997.44. The Nasdaq composite slipped 0.35 points, or 0.01 percent, to 6,623.66. The Russell 2000 index of smaller-company stocks fell 5.18 points, or 0.3 percent, to 1,497.50.

More stocks fell than rose on the New York Stock Exchange.

The major stock indexes drifted between small gains and losses for much of the day.

Early on, traders eyed big company earnings news from Goldman Sachs, Morgan Stanley, UnitedHealth Group and Johnson & Johnson, among others.


UnitedHealth, the country's biggest health insurer, jumped 5.5 percent after reporting earnings that beat analyst estimates. The stock gained $10.69 to $203.89. Johnson & Johnson added 3.4 percent after reporting a strong quarter of its own. Its shares picked up $4.67 to $140.79.

Health insurers, hospitals and other health care companies also rose as two leading lawmakers reached a deal on a plan that would extend federal payments to health insurers that President Donald Trump had blocked last week. Trump said Tuesday afternoon that the White House has been involved in the plan, which he called a "short-term deal." Biogen gained $8.799, or 2.6 percent, to $344.47, while Anthem added $3.50, or 1.9 percent, to $187.26.

Morgan Stanley posted quarterly results above Wall Street's expectations. Its shares rose 18 cents, or 0.4 percent, to $49.12.

Traders took a dimmer view of Goldman Sachs' results. The bank also posted results that beat financial analysts' estimates, but its trading desks, which are weighted toward bonds, currencies and commodities, struggled during the quarter. Goldman slid $6.32, or 2.6 percent, to $239.09.

Netflix fell 1.6 percent after the streaming video company said its debt and programming costs continue to rise as it gained subscribers last quarter. Its shares lost $3.20 to $199.48.

While only a few companies have reported results so far, earnings are mostly looking good, noted Erik Davidson, chief investment officer for Wells Fargo Private Bank.

"Earnings are growing year-over-year and, most importantly, the (revenue) overall thus far seems to be doing OK," he said.

Fifty companies are scheduled to report quarterly results this week, the first full week of the third-quarter earnings season. S&P 500 companies are forecast to deliver 3.3 percent earnings growth in the third quarter, according to S&P Global Market Intelligence.


Among the big names due to report earnings this week are American Express, Verizon Communications and General Electric.

Traders also drew encouragement Tuesday from economic data that showed U.S. industrial production rose a solid 0.3 percent last month, as manufacturing of automobiles, home electronics and appliances increased. The gains were limited due to lingering damage from Hurricanes Harvey and Irma.

Separately, a gauge of homebuilders' confidence rose more than expected this month as builders looked past a recent slowdown in new home sales and the risk of rising labor and materials costs in the wake of the two hurricanes.

Bond prices were little changed. The yield on the 10-year Treasury note held steady at 2.30 percent.

Oil prices closed slightly higher, rebounding after an early slide.

Benchmark U.S. crude gained a penny to settle at $51.88 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, rose 6 cents to close at $57.88 a barrel in London.

In other energy trading, wholesale gasoline rose a penny to $1.63 a gallon. Heating oil was little changed at $1.81 a gallon. Natural gas added 2 cents to $2.96 per 1,000 cubic feet.

Gold fell $16.80, or 1.3 percent, to $1,286.20 an ounce. Silver slid 33 cents to $17.04 an ounce. Copper lost 4 cents to $3.20 a pound.

The dollar fell to 112.18 yen from 112.22 yen. The euro weakened to $1.1772 from $1.1792. The pound fell to $1.3191 from $1.3243 after Bank of England Governor Mark Carney warned about the economic impact of Brexit.


Markets overseas were mixed.

In Europe, Germany's DAX fell 0.1 percent, while France's CAC 40 was essentially flat. London's FTSE 100 dipped 0.1 percent.

In Asia, Hong Kong's Hang Seng was unchanged ahead of a twice-a-decade congress Wednesday by China's ruling Communist Party. Tokyo's Nikkei 225 gained 0.4 percent, while Sydney's S&P-ASX 200 rose 0.7 percent. Seoul's Kospi added 0.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines...xed-nikkei-cheered-by-likely-ruling-party-win

* Record Highs for Major US Stock Indexes; Dow Passes 23,000 *
*A day of modest gains on Wall Street resulted in more milestones for U.S. stocks Wednesday as the Dow Jones industrial average closed above 23,000 points for the first time.*

By ALEX VEIGA, AP Business Writer

A day of modest gains on Wall Street resulted in more milestones for U.S. stocks Wednesday as the Dow Jones industrial average closed above 23,000 points for the first time.

The Standard & Poor's 500 index and Nasdaq composite also finished at record highs.

Technology stocks and financial companies led the gainers as investors weighed the latest batch of company earnings. Strong quarterly results drove IBM shares to their biggest one-day gain since 2009. Those gains accounted for much of the 30-company Dow's record high.

"For us it's just another indication that it is a strong market here, year-to-date," said Paul Springmeyer, investment managing director for US Bank Private Wealth Management. "To have the Dow up over 17 percent is a very, very strong year."

All told, the Dow picked up 160.16 points, or 0.7 percent, to 23,157.60. The S&P 500 index rose 1.90 points, or 0.1 percent, to 2,561.26. The Nasdaq added 0.56 points, or 0.01 percent, to 6,624.22. The Russell 2000 index of smaller-company stocks gained 7.65 points, or 0.5 percent, to 1,505.14.

The S&P 500 and Dow also set records on Monday and Tuesday.

The Dow closed above 22,000 for the first time on Aug 2, and since then the best-performing components have been Boeing, Caterpillar, Goldman, Home Depot and 3M. The Dow is up 3,395 points this year, or 17.2 percent.

Despite the market's recent string of record highs and the Dow's latest milestone, stocks can still grind higher as long as the economy continues to expand and companies grow revenue, said Quincy Krosby, chief market strategist at Prudential Financial.

"Overall, the underpinning for the market is solid," Krosby said. "You have global growth picking up the way it has over the last quarter, it's an indication that demand is picking up as well and it's why you have global markets doing well."


Investors continued to size up the latest raft of company earnings Wednesday.

IBM jumped 8.9 percent after the technology and consulting company delivered strong quarterly results. The gain was the biggest one-day jump for IBM since January 2009. Even so, the stock remains down 3.9 percent for the year.

IBM's gain was responsible for 89 points of the Dow's increase. Gains by Goldman Sachs accounted for another 40 points of the 30-company average's climb.

Financial stocks led the gainers Wednesday. Goldman Sachs picked up $5.94, or 2.5 percent, to $242.03. Insurer Assurant climbed $5.94, or 6.2 percent, to $101.80.

Traders bid up shares in companies that reported quarterly results that beat the Street.

Northern Trust shares picked up 3.8 percent after the bank's earnings and revenue beat analysts' estimates. The bank also said it plans to cut $250 million in annual spending by 2020. The stock added $3.48 to $94.58.

Investors also sized up corporate deals and other developments making the news Wednesday.

Anthem, the second-largest U.S. health insurer, rose 2.4 percent after announcing that it's entered a prescription benefits management deal with CVS. Anthem shares added $4.53 to $191.79. CVS rose $1.47, or 2 percent, to $74.10.

The Nielsen company climbed 4.2 percent after the long-time tracker of TV viewership said it now has a way to collect details on the number of people who watch programs on streaming video services like Netflix and Amazon. Nielsen said that eight television networks and studios, including ABC and NBC, have already subscribed to its new service. The stock rose $1.69 to $41.69.


Electronic Arts slid 2.4 percent after the video game company said it will postpone the release of an upcoming "Star Wars" game to make changes. The game was scheduled to be released next year or in early 2019. EA is also closing down its Visceral Games studio. Shares lost $2.82 to $113.16.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.34 percent from 2.30 percent late Tuesday.

Oil prices recovered from an early slide. Benchmark U.S. crude rose 16 cents to settle at $52.04 a barrel in New York. Brent crude, used to price international oils, gained 27 cents to close at $58.15 a barrel in London.

Shares in drilling and oil production companies declined, part of a steep slide in energy stocks. Range Resources slid 45 cents, or 2.3 percent, to $19.

In other energy trading, wholesale gasoline rose a penny to $1.64 a gallon. Heating oil slipped a penny to $1.80 a gallon. Natural gas lost 11 cents, or 3.6 percent, to $2.85 per 1,000 cubic feet.

Gold fell $3.20 to $1,283 an ounce. Silver slid 4 cents to $17 an ounce. Copper lost 2 cents to $3.18 a pound.

The dollar rose to 112.90 yen from 112.18 yen on Tuesday. The euro strengthened to $1.1802 from $1.1772.

Major European stock indexes closed higher Wednesday.

Germany's DAX gained 0.3 percent, while France's CAC 40 rose 0.4 percent. The FTSE 100 index of leading British shares added 0.4 percent. In Asia, Japan's benchmark Nikkei 225 rose 0.1 percent, while Australia's S&P/ASX 200 was little changed. South Korea's Kospi lost nearly 0.1 percent. Hong Kong's Hang Seng was flat.


----------



## bigdog

https://www.usnews.com/news/busines...rkets-mixed-as-data-shows-china-growth-slowed

* Last-Minute Rebound Lifts S&P 500, Dow Edge to New Highs *
*A last-minute surge nudged U.S. stocks indexes mostly higher Thursday, barely extending the market's winning streak and milestone-setting run.*

By ALEX VEIGA, AP Business Writer

A last-minute surge nudged U.S. stock indexes mostly higher Thursday, barely extending the market's winning streak and milestone-setting run.

The Standard & Poor's 500 index and Dow Jones industrial average closed higher for the fifth straight day, each posting new highs. The other indexes finished slightly lower as investors continued to pore through the latest batch of company earnings.

Technology companies weighed on the market all day, but gains in health care stocks helped offset some of those losses.

"You have a lot of risk assets, especially equities, having done pretty well," said Sameer Samana, global quantitative strategist for Wells Fargo Investment Institute. "Some people are viewing now as a pretty good time to make sure they lock in some of that performance."

The S&P 500 index rose 0.84 points, or 0.03 percent, to 2,562.10. The Dow added 5.44 points, or 0.02 percent, to 23,163.04. The Nasdaq composite slid 19.15 points, or 0.3 percent, to 6,605.07. The Russell 2000 index of smaller-company stocks gave up 3.10 points, or 0.2 percent, to 1,502.04.

Slightly more stocks rose than declined on the New York Stock Exchange.

Investors bid up shares in drug manufacturers and other health care companies.

Envision Healthcare led the sector, vaulting $4.43, or 10.9 percent, to $45.08. Gilead Sciences rose $1.58, or 2 percent, to $81.59. A subsidiary of the drugmaker received approval this week to sell a new treatment for a form of blood cancer.

Medical equipment maker Danaher jumped 4.7 percent after it reported earnings that beat financial analysts' estimates and raised its outlook. The stock added $4.05 to $90.10.

Verizon Communications' latest quarterly results also impressed traders. The company said its wireless unit gained more mobile phone users than expected in its latest quarter. Its stock rose 56 cents, or 1.2 percent, to $49.21.


Adobe Systems surged 12.2 percent after the software maker issued a strong profit forecast for 2018. The stock was the biggest riser in S&P 500, climbing $18.73 to $171.73.

Other technology stocks didn't fare as well.

Apple had its worst day in two months amid investor concern that its recently launched iPhone 8 models are lagging in market share compared to prior iPhone models. The stock finished down $3.78, or 2.4 percent, at $155.98. Despite the slide, Apple is still up 34.7 percent this year.

The slide in Apple and other technology companies weighed on the market for much of the day. The sector, which is leading all other sectors in the S&P 500 with a gain of 30 percent this year, recovered some of its losses by late afternoon.

"The sector has had such a great run, but you're starting to see some concerns about how big they've gotten, some chatter in Washington about should there be some regulations," said Samana. "People are just content to take some money off the table."

While many more companies will be reporting third-quarter results in coming weeks, so far earnings have been largely positive. Some 75 S&P 500 companies have reported quarterly results so far, posting sales growth of about 6 percent and earnings gains of about 9 percent, Samana said.

Even so, quarterly report cards and outlooks from several companies failed to impress investors Thursday.

United Continental sank 12.1 percent after the parent of United Airlines said that weak prices will continue the rest of this year. The stock was the biggest decliner in the S&P 500, tumbling $8.21 to $59.78.


Auto parts retailer Genuine Parts slumped 8.5 percent after the company said costs rose and its quarterly profit fell short of Wall Street's estimates. The stock lost $8.33 to $89.71.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.31 percent from 2.35 percent late Wednesday.

Benchmark U.S. crude lost 75 cents, or 1.4 percent, to settle at $51.29 per barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, fell 92 cents, or 1.6 percent, to $57.23 per barrel in London.

The slide in oil weighed on energy stocks. Schlumberger declined $1.41, or 2.1 percent, to $64.50.

In other energy trading, wholesale gasoline was little changed at $1.64 a gallon. Heating oil slipped 3 cents to $1.78 a gallon. Natural gas gained 2 cents to $2.87 per 1,000 cubic feet.

Gold rose $7 to $1,290 an ounce. Silver added 26 cents to $17.26 an ounce. Copper lost 1 cent to $3.17 a pound.

The dollar fell to 112.65 yen from 112.90 yen on Wednesday. The euro rose to $1.1830 from $1.1802.

Global stocks mostly declined Thursday following relatively weak Chinese economic growth data and rising tensions over Catalonia's bid for independence from Spain.

In Europe, Germany's DAX declined 0.4 percent, while France's CAC 40 fell 0.3 percent. Britain's FTSE 100 slid 0.3 percent. Asian markets finished mostly weaker. Japan's Nikkei 225 gained 0.4 percent, while South Korea's Kospi slipped 0.4 percent. Hong Kong's Hang Seng index slumped 1.9 percent.


----------



## bigdog

https://www.usnews.com/news/busines...rise-as-investors-await-japan-vote-fed-choice

* US Stocks End Higher; S&P 500, Dow on 6-Week Winning Streak *
*Wall Street capped a week with no shortage of milestones with a few more Friday.*

By ALEX VEIGA, AP Business Writer

Wall Street capped a week with no shortage of milestones with a few more Friday.

U.S. stocks closed modestly higher, lifting the Standard & Poor's 500 index to its fifth record close in a row. The Dow Jones industrial average, which crossed past the 23,000 mark for the first time on Wednesday, also finished the day with its fifth-straight all-time high.

Banks led the gainers Friday. Technology companies also posted big gains, helping to drive the Nasdaq composite to a record high.

The latest milestones came as investors drew encouragement from the Senate's passage of a budget bill that is expected to ease the path for the White House's tax cut proposal.

"Market expectations for an impactful tax reform have been running fairly low," said Mike Baele, managing director at U.S. Bank Private Wealth Management. "That changed a bit today with the Senate passing the budget resolution for 2018."

The S&P 500 index rose 13.11 points, or 0.5 percent, to 2,575.21. The Dow gained 165.59 points, or 0.7 percent, to 23,328.63. The Nasdaq composite added 23.99 points, or 0.4 percent, to 6,629.05. The Russell 2000 index of smaller-company stocks picked up 7.20 points, or 0.5 percent, to 1,509.25.

The S&P 500 and the Dow are now on a six-week winning streak.

President Donald Trump's plans to slash corporate taxes and make other business-friendly changes to the nation's tax laws have helped lift U.S. stocks in recent weeks. Under the administration's tax plan, the first major overhaul of the tax code in three decades, corporations would see their top tax rate cut from 35 percent to 20 percent.

On Thursday, the Senate narrowly passed a $4 trillion budget resolution that now goes to the House of Representatives. The bill sets the stage for tax legislation later this year that could pass through the Senate without the threat of a filibuster by Democrats. It also adds $1.5 trillion to the deficit over the next 10 years.


Should tax reform pass, it's also a good bet that interest rates will move higher, which will benefit banks and other financial companies. That's one reason banks and bond yields rose Friday.

Higher bond yields allow banks to charge higher interest rates on mortgages and other loans. The yield on the 10-year Treasury note rose to 2.38 percent from 2.32 percent late Thursday.

Synchrony Financial gained $1.33, or 4.2 percent, to $33.04. Citizens Financial Group picked up 90 cents, or 2.4 percent, to $38.33. Both also reported higher quarterly earnings than analysts had been expecting.

Technology sector companies also had a good day.

PayPal Holdings climbed 5.5 percent after the payment technology company reported big gains in new users and transactions. The stock rose $3.72 to $70.97.

While still early in the third-quarter earnings season, strong earnings helped push the market higher this week.

Just under 12 percent of S&P 500 companies have released quarterly results through Friday. Of those, 78 percent reported earnings and revenue that beat financial analysts' estimates, according to S&P Global Market Intelligence.

"Companies have been able to, once again, beat expectations up to this point," said Baele. "The combination of strong economic data, good earnings and now the prospect of fiscal stimulus is really helping to support equities."

Shares in several companies made big moves Friday after traders reviewed their latest quarterly results.


Skechers USA soared 41.4 percent after the shoe company said that its profit and sales were stronger than analysts expected. The stock rose $9.96 to $33.99.

Atlassian jumped $9.92, or 24.6 percent, to $50.17. The business software company's earnings and revenue beat Wall Street's forecasts. It also raised its forecast.

Semiconductor company Maxim Integrated also posted better-than-expected results. Its stock rose $2, or 4 percent, to $52.09.

General Electric bounced back after the industrial conglomerate slashed its annual forecast and reported a disappointing third quarter. The stock gained 25 cents, or 1.1 percent, to $23.83.

Other companies put traders in a selling mood with their latest quarterly results or outlooks didn't recover. NCR gave up 10.8 percent after the company cut its annual revenue forecast and said orders for ATMs were weaker than it expected. Its shares lost $4 to $33.05.

Oil prices closed higher after wavering between small gains and losses for much of the day.

Benchmark U.S. crude added 18 cents to settle at $51.47 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, gained 52 cents to $57.75 a barrel in London.

The gains helped lift most of the energy companies in the S&P 500. Helmerich & Payne climbed $1.06, or 2.1 percent, to $52.

In other energy trading, wholesale gasoline rose 3 cents to $1.68 a gallon. Heating oil picked up 3 cents to $1.81 a gallon. Natural gas gained 4 cents to $2.92 per 1,000 cubic feet.

Gold fell $9.50 to $1,280.50 an ounce. Silver lost 18 cents to $17.09 an ounce. Copper was little changed at $3.17 a pound.

The dollar strengthened to 113.50 yen from 112.65 yen on Thursday. The euro fell to $1.1780 from $1.1830.


Major stock indexes overseas were mixed Friday.

In Europe, Germany's DAX and the FTSE 100 index of leading British shares finished flat. The CAC 40 in France added 0.1 percent. In Asia, Japan's benchmark Nikkei 225 finished less than 0.1 percent higher ahead of parliamentary elections on Sunday. Prime Minister Shinzo Abe's party is expected to retain a comfortable lead.

Elsewhere, South Korea's Kospi added 0.7 percent, while Hong Kong's Hang Seng index rebounded 1.2 percent after a big sell-off the day before.

4693


----------



## bigdog

https://www.usnews.com/news/busines...-on-japanese-ruling-party-win-most-of-asia-up

* US Stocks Skid as GE Tumbles and Technology Companies Fall *

*US stocks are falling as General Electric takes a sharp loss and pulls industrial firms down while technology companies also slump.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Industrial and technology companies and retailers all stumbled Monday as U.S. stocks began the week with losses. General Electric suffered its worst one-day loss in six years following downgrades from analysts.

After a mixed start, stocks turned lower in afternoon trading. GE's struggles weighed on industrial companies, while big technology companies liked Facebook and Alphabet sank. Toy companies Hasbro and Mattel tumbled after Hasbro's sales forecast disappointed Wall Street and familiar consumer companies like Amazon and McDonald's also slumped. Investors did far more selling than buying as a seven-day winning streak ended. It was the worst day for stocks in about seven weeks, but it was still a fairly small decline, as almost nothing has seriously rattled investors this year.

"We have never seen the level of calm and the level of strength combined that we've seen," said Mark Hackett, chief of investment research at Nationwide Investment Management. "Investors are kind of willing to just trust it."

Hackett said it's very unusual that stocks have continued to rise without any big sell-offs, but he doesn't see it as a problem. That's because major economies like the U.S., Europe and China have all been growing for more than a year, which isn't likely to end soon.

The Standard & Poor's 500 index lost 10.23 points, or 0.4 percent, to 2,564.98. The Dow Jones industrial average fell 54.67 points, or 0.2 percent, to 23,273.96. The Nasdaq composite dropped 42.23 points, or 0.6 percent, to 6,586.83. The Russell 2000 index of smaller-company stocks sank 11.75 points, or 0.8 percent, to 1,497.49.

General Electric took its biggest single-day loss since August 2011 after analysts at UBS and Morgan Stanley lowered their ratings on its stock. GE stock has been slumping all year, but it had edged higher Friday as investors reacted positively to the conglomerate's third-quarter results. Analysts were less optimistic Monday, as Christopher Belfiore of UBS cut his 2018 and 2019 profit estimates for GE and said it's likely to reduce its dividend payments.

The stock fell $1.51, or 6.3 percent, to $22.32. It's down 29 percent this year.

Other industrial firms also took losses. Equipment rental company United Rentals lost $2.92, or 2 percent, to $141.48. Arconic, which makes aluminum parts for the aerospace and other industries, fell $2.52, or 9.2 percent, to $24.65 after it disclosed a smaller-than-expected profit and named former GE executive Charles Blankenship as its next CEO.

Hasbro tumbled after its sales forecast fell short of Wall Street estimates. The company said the recent bankruptcy of Toys R Us hurt its business. Its stock gave up $8.44, or 8.6 percent, to $89.75 and competitor Mattel fell 51 cents, or 3.2 percent, to $15.46.

Other consumer-focused companies also declined. Under Armour fell 63 cents, or 3.6 percent, to $16.85 after the Wall Street Journal reported that co-founder Kip Fulks' plans to take a sabbatical from the company, and that Under Armour may exit its camping and hiking apparel business. Amazon slipped $16.63, or 1.7 percent, to $966.30.

The S&P closed at an all-time high every day last week. According to S&P Dow Jones indices, that hadn't happened since March 1998. Hackett, of Nationwide Investments, said the steady rally over last year has been similar to the market's rally in 1994-95, when the U.S. was recovering from the early '90s recession and pro-business Republicans took control of Congress. He noted that that calm stretch did not end in a market crash.

Several companies struck deals over the weekend. Communications software maker BroadSoft agreed to be bought by Cisco Systems for $55 a share, or $1.9 billion. The stock added 90 cents, or 1.7 percent, to $54.80. It has climbed 27 percent since Aug. 29, when reports said BroadSoft was considering a sale. Cisco rose 10 cents to $34.35.

Aetna will sell its U.S. group life and disability insurance businesses to Hartford Financial Services for $1.45 billion. Hartford, which also reported its third-quarter results on Monday, fell $2.43, or 4.3 percent, to $54.06. Aetna gained 63 cents to $161.47.

Bond prices edged higher. The yield on the 10-year Treasury note slid to 2.37 percent from 2.38 percent.

Benchmark U.S. crude added 6 cents to $51.90 a barrel in New York. Brent crude, used to price international oils, lost 38 cents to $57.37 a barrel in London.

Wholesale gasoline stayed at $1.68 a gallon. Heating oil lost 2 cents to $1.79 a gallon. Natural gas jumped 8 cents, or 2.6 percent, to $2.99 per 1,000 cubic feet.

Gold inched up 40 cents to $1,280.90 an ounce. Silver remained at $17.08 an ounce. Copper rose 2 cents to $3.19 a pound.

The dollar rose to 113.73 yen from 113.50 yen. The euro fell to $1.173 from $1.1780.

The CAC 40 in France rose 0.3 percent and Germany's DAX rose 0.1 percent. In Britain, the FTSE 100 was little changed.

Japan's benchmark Nikkei 225 jumped 1.1 percent after Prime Minister Shinzo Abe's ruling Liberal Democratic Party scored a win in the nationwide parliamentary election Sunday. The South Korean Kospi finished little changed and Hong Kong's Hang Seng fell 0.6 percent.


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## bigdog

https://www.usnews.com/news/busines...arkets-slightly-higher-after-wall-street-loss

* Banks, Caterpillar and Industrial Companies Boost US Stocks *

*US stocks rise as banks, industrial and technology companies move higher, and big gains from Caterpillar and 3M take the Dow Jones industrial average to a record high.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Construction and mining equipment maker Caterpillar and Post-it note maker 3M led a rally in industrial companies Tuesday after they made strong third-quarter reports. Other U.S. stocks finished the day with smaller gains.

Caterpillar and 3M both raised their forecasts for the rest of the year after they did better than analysts had expected, and their stocks jumped. Combined the two companies were responsible for almost all of the 167-point gain in the Dow Jones industrial average, which sent the 30-stock index to a record high. Bond yields and interest rates rose, which helped banks, and technology companies climbed as well. Investors applauded reports from McDonald's and General Motors while health care companies including drugmakers stumbled. Household goods makers also declined.

UBS analyst Steven Fisher said he thinks Caterpillar, as well as other companies that make construction and mining equipment, are benefiting from gains in metals and oil prices over the last year to year-and-a-half.

"There's now a catch-up to not only meet the demand but also replenish inventories," he said. That delayed reaction helped Caterpillar in the third quarter and he said investors have high expectations for other machinery makers.

The Standard & Poor's 500 index gained 4.15 points, or 0.2 percent, to 2,569.13. The Dow Jones industrial average jumped 167.80 points, or 0.7 percent, to 23,441.76. The Nasdaq composite climbed 11.60 points, or 0.2 percent, to 6,598.43. The Russell 2000 index of smaller-company stocks added 2.93 points, or 0.2 percent, to 1,500.42.

Caterpillar's revenue from construction equipment climbed, and the company said it's getting strong demand for oil and gas machinery in North America and construction equipment in China. Its stock gained $6.56, or 5 percent, to $138.24, and it's up 49 percent in 2017. 3M, best known for Post-it notes, said its industrial, electronics and energy and health care businesses all got stronger and it expects a larger annual profit. It added $13.10, or 5.9 percent, to $234.65.

Caterpillar and 3M are two of the biggest winners in the Dow average this year. The top gainer is aerospace company Boeing, which rose $3.68, or 1.4 percent, to $266, giving it a 71-percent jump since the start of the year.

Bond prices continued to fall. The yield on the 10-year Treasury note rose to 2.42 percent from 2.37 percent and reached its highest level in five months. That helped banks, as higher interest rates boost their profits on lending. Bank of America gained 52 cents, or 1.9 percent, to $27.68 and JPMorgan Chase rose $1.58, or 1.6 percent, to $100.92.

Technology companies recovered most of Monday's losses. Specialty glass maker Corning jumped $1.93, or 6.4 percent, to $31.94 after its third-quarter report surpassed what Wall Street expected. Oracle rose 67 cents, or 1.4 percent, to $49.98 and video game maker Activision Blizzard added $1.27, or 2.1 percent, to $62.73.

Appliance maker Whirlpool had a weak quarter as costs were high and the company struggled to integrate European businesses it's bought over the last few years. Whirlpool also slashed its profit forecast for the year and its stock sank $19.24, or 10.5 percent, to $163.26.

Meanwhile Whirlpool's more than century-old ties to department store Sears are ending. Sears says it is no longer selling Maytag appliances or other Whirlpool products at its stores. Whirlpool said it told Sears months ago that it would stop supplying branded products for the chain to sell because the companies couldn't agree on terms. Sears lost 57 cents, or 8.7 percent, to $5.99.

Health care companies took losses. Drugmaker Biogen fell $12.82, or 3.9 percent, to $315.73 as sales of its multiple sclerosis drugs Tecfidera and Tysabri disappointed analysts. Eli Lilly sank $2.01, or 2.3 percent, to $85.17. The company posted a solid third quarter, but said diabetes drug prices are still under pressure. Lilly also said it may sell its Elanco animal health unit. That business had been an important part of Lilly's strategy as important older drugs like Zyprexa and Cymbalta lost patent protection.

Drugmakers AbbVie and Celgene and health care products maker Johnson & Johnson also fell.

Benchmark U.S. crude gained 57 cents, or 1.1 percent, to $52.47 a barrel in New York. Brent crude, used to price international oils, climbed 96 cents, or 1.7 percent, to $58.33 a barrel in London.

Wholesale gasoline rose 4 cents to $1.72 a gallon. Heating oil added 3 cents to $1.82 a gallon. Natural gas slipped 2 cents to $2.97 per 1,000 cubic feet.

Gold fell $2.60 to $1,278.30 an ounce. Silver lost 11 cents to $16.97 an ounce. Copper gained 1 cent to $3.20 a pound.

The dollar edged down to 113.58 yen from 113.73 yen. The euro rose to $1.1788 from $1.1738.

Germany's DAX rose 0.1 percent and the French CAC-40 gained 0.1 percent. The FTSE 100 in London finish little changed. Tokyo's Nikkei 225 rose for the 16th day in a row, which extended a post-World War II record. The index added 0.5 percent. The Hang Seng in Hong Kong lost 0.5 percent and Seoul's Kospi was unchanged.
*
*


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## bigdog

https://www.usnews.com/news/busines...-inch-higher-but-nikkei-breaks-winning-streak

* Weak Earnings and Rising Bond Yields Send US Stocks Down *

*US stocks sink on weak quarterly results from a variety of different industries, with the steepest drops going to technology companies and industrial firms.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Rising bond yields and a string of weak company reports and forecasts pushed stocks lower Wednesday as major indexes retreated from their recent record highs. Industrial and technology companies and banks fared the worst.

Companies including telecom giant AT&T, aerospace company Boeing, chipmaker Advanced Micro Devices and credit card issuer Discover Financial Services all gave shaky results, disappointing forecasts, or both. That sent stocks downward, and in early afternoon trading the Dow Jones industrial average fell as much as 190 points, after setting a record the day before. Stocks recovered some of their losses in afternoon trading, but all 11 industry sectors in the Standard & Poor's 500 index finished the day lower.

Bond yields jumped to seven-month highs after a report from the Commerce Department showed orders for long-lasting manufactured goods and business investment grew in September. That's good news for the economy, but it actually hurt stocks Wednesday, said Sam Stovall, chief investment strategist at CFRA Equity Research, because it might lead to greater inflation.

"Higher yields (and) a string of positive returns from the market combined with some weak earnings numbers gave investors some reasons to attempt to take profits," he said. Stocks have risen for each of the last six weeks and repeatedly set new highs.

The S&P 500 shed 11.98 points, or 0.5 percent, to 2,557.15. The Dow Jones industrial average fell 112.30 points, or 0.5 percent, to 23,329.46. The Nasdaq composite sank 34.54 points, or 0.5 percent, to 6,563.89. The Russell 2000 index, which is comprised of smaller-company stocks, dropped 6.94 points, or 0.5 percent, to 1,493.48.

The Commerce Department said orders for long-lasting manufactured goods rose 2.2 percent last month, much more than analysts expected. Much of the improvement came from greater sales of commercial aircraft. A key category that tracks business investment grew for the third month in a row.

Despite the gains in aircraft sales, a solid third-quarter report and a boost in its profit forecast, Boeing stock slumped $7.58, or 2.8 percent, to $258.42 Wednesday. It's almost doubled in value in the last 12 months. Elsewhere in the industrial sector, defense contractor General Dynamics lost $4.83, or 2.3 percent, to $207.25. The company's technology and marine systems businesses reported lower sales compared to a year ago, falling far short of estimates.

General Electric declined for the third day in a row and finished at a four-and-a-half-year low as it lost 39 cents, or 1.8 percent, to $21.50.

Chipmaker Advanced Micro Devices dropped $1.92, or 13.5 percent, to $12.33 after its fourth-quarter forecasts disappointed investors. Network equipment maker Juniper Networks also issued a mediocre forecast and its stock lost $1.60, or 6.1 percent, to $24.56.

Bond prices fell again. The yield on the 10-year Treasury note rose to 2.44 percent from 2.42 percent. That put pressure on companies that pay large dividends, like telecommunications companies, utilities, and food and beverage makers. Those stocks tend to do better when bond yields are down, as that makes the stocks more attractive to investors who are looking for income.

Many of those companies were hurt by weak results as well. AT&T lost $1.37, or 3.9 percent, to $33.49 after it reported a smaller profit and less revenue than Wall Street expected in the third quarter. Dr Pepper Snapple tumbled $4.19, or 4.7 percent, to $85.52. The 7UP maker's profit and sales were weaker than expected. It cut its profit forecast for the year because of higher costs as well as expenses from its purchase of energy drink maker Bai Brands.

While rising bond yields and interest rates usually help bank stocks, that was canceled out by disappointing earnings reports. Discover Financial Services lost $2.24, or 3.3 percent, to $65.15 as the credit card issuer and lender set aside more money to cover potential losses on bad loans. Regional bank Huntington Bancshares fell 33 cents, or 2.4 percent, to $13.88.

Benchmark U.S. crude shed 29 cents to $52.18 a barrel in New York. Brent crude, used to price international oils, rose 11 cents to $58.44 per barrel in London.

Wholesale gasoline rose 2 cents to $1.73 a gallon. Heating oil remained at $1.82 a gallon. Natural gas fell 6 cents to $2.92 per 1,000 cubic feet.

Gold inched up 70 cents to $1,279 an ounce. Silver lost 4 cents to $16.93 an ounce. Copper fell 2 cents to $3.18 a pound.

The dollar rose to 113.72 yen from 113.58 yen. The euro edged up to $1.1807 from $1.1788. The British pound rose to $1.3255 from $1.3136.

Britain's FTSE 100 dipped 1.1 percent as investors felt a stronger-than-expected report on economic growth makes it more likely the Bank of England will raise interest rates next month. France's CAC 40 fell 0.4 percent and the DAX in Germany lost 0.5 percent.

The Nikkei 225 index fell 0.5 percent as a 16-day winning streak for Japanese stocks came to an end. The index rose 7.2 percent over that period, its longest winning streak since World War II. The South Korean Kospi added 0.1 percent and Hong Kong's Hang Seng gained 0.5 percent.
*
*


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## bigdog

https://www.usnews.com/news/busines...rift-after-us-fall-before-europe-bank-meeting

* Banks and Tech Companies Help Stocks Higher; Drugmakers Dive *
*US stocks rise as banks climb along with interest rates and technology companies bounce back from the previous day's losses.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks rose Thursday as gains for technology companies and banks helped the market recover some of its losses from earlier in the week. However drugmakers and distributors tumbled.

The European Central Bank said Thursday it will begin gradually reducing the bond purchases it's been making to strengthen the regional economy. Investors were glad the bank isn't being more aggressive. The euro weakened and European stock indexes jumped. Technology companies recovered some of the ground they lost a day ago, and banks and credit card companies jumped as bond yields continued to climb.

Drugmakers sank after Celgene and Bristol-Myers Squibb slashed their forecasts. Late in the day, drugstores and companies that distribute medications sank on reports Amazon is taking steps to move into the pharmaceutical business by getting licenses to distribute medications wholesale.

For years the European Central Bank has bought bonds to help strengthen the region's economy. Starting in January the bank plans to cut the size of its purchases in half, to 30 billion euros a month.

Scott Wren, senior global equity strategist for Wells Fargo Investment Institute, said investors were relieved the bank did not announce a bigger cut in bond purchases or take more aggressive steps.

"The market was a little bit fearful that the ECB was going to be more hawkish," he said. "That wasn't the case."

The Standard & Poor's 500 index rose 3.25 points, or 0.1 percent, to 2,560.40. The Dow Jones industrial average gained 71.40 points, or 0.3 percent, to 23,400.86. The Nasdaq composite lost 7.12 points, or 0.1 percent, to 6,556.77. The Russell 2000 index of smaller-company stocks added 3.98 points, or 0.3 percent, to 1,497.46.

France's CAC-40 jumped 1.5 percent and the DAX in Germany gained 1.4 percent. Britain's FTSE 100 added 0.5 percent.

The euro fell to $1.1657 from $1.1807 as investors think interest rates in Europe will stay lower for longer than they had expected. The weaker euro helped shares of companies that export goods from Europe.

Bond prices edged lower. The yield on the 10-year Treasury note rose to 2.46 percent from 2.44 percent as yields and interest rates remained at seven-month highs. Higher rates mean banks can make larger profits from mortgages and other lending. SunTrust Banks rose 83 cents, or 1.4 percent, to $60.61 and American Express jumped $2.16, or 2.3 percent, to $95.69.

And Wren, of Wells Fargo, said the ECB and the Federal Reserve might both end up raising interest rates faster than investors currently expect. Concerns about higher interest rates helped push stocks lower on Wednesday and Wren said the same fears could have a big effect on stocks in 2018.

"The market should be worried about the Fed raising rates three times next year, like they've hinted," he said.

Drugmaker Celgene plunged after it reduced its forecasts for this year, partly because it expects weaker sales of its new psoriasis treatment Otezla. Celgene also said it won't meet its longer-term goals: it cut its profit and sales projections for the year 2020 as it anticipates weaker sales of new products and medications to treat cancer and inflammation.

Celgene stock lost $19.57, or 16.4 percent, to $99.99. Bristol-Myers Squibb lost $3.05, or 4.8 percent, to $60.95 after it reduced its annual forecast. Other drugmakers including Amgen and Gilead Sciences also stumbled.

Materials companies climbed after a round of strong company results. Chemicals maker Dow DuPont jumped $1.96, or 2.8 percent, to $73.05 and industrial and medical gas company Air Products and Chemicals gained $6.80, or 4.4 percent, to $161.39.

Drugstores, prescription drug distributors and pharmacy benefits managers sank after the St. Louis Post-Dispatch reported that Amazon has received wholesale pharmacy licenses in at least 12 states, the latest suggestion the company intends to enter that market. Investors in those companies fear Amazon will slash prices and hurt their revenue.

Walgreens fell $2.25, or 3.2 percent, to $67.11. McKesson, which rose as much as 7.4 percent in early trading after its quarterly report, wound up with a loss of $7.84, or 5.2 percent, to $143.54. Pharmacy benefits management company Express Scripts shed $2.23, or 3.6 percent, to $58.93.

Amazon reported its third-quarter results after the close of trading. Its stock rose 8 percent after its profit and sales surpassed analysts' estimates.

CVS Health tumbled $2.22, or 2.9 percent, to $74.31. Minutes before the close of trading, the Wall Street Journal reported that the drugstore-pharmacy benefits company is in talks to buy health insurer Aetna. Aetna stock jumped $18.48, or 11.5 percent, to $178.60.

Benchmark U.S. crude added $52.64 a gallon in New York. Brent crude, used to price international oils, rose 86 cents, or 1.5 percent, to $59.30 a barrel in London.

Wholesale gasoline rose 2 cents to $1.75 a gallon. Heating oil picked up 2 cents to $1.84 a gallon. Natural gas fell 3 cents to $2.89 per 1,000 cubic feet.

Gold gave up $9.40 to $1,269.60 an ounce. Silver fell 11 cents to $16.81 an ounce. Copper lost 1 cent to $3.18 a pound.

Japan's benchmark Nikkei 225 index edged 0.2 percent higher while South Korea's Kospi dipped 0.5 percent. The Hang Seng in Hong Kong slipped 0.4 percent.

The dollar rose to 114 yen from 113.72 yen.


----------



## bigdog

https://www.washingtonpost.com/busi...97043e57a22_story.html?utm_term=.cab77ce85cf8

*Tech giants lead rally as stocks near records; Amazon surges*

By Marley Jay | AP October 27 at 5:06 PM
NEW YORK — Some of the biggest companies in the world had their best day in years Friday as Microsoft and Alphabet soared following strong third-quarter reports, as did online retail giant Amazon. U.S. stocks set more records as their winning streak extended to a seventh week.

Intel made its biggest gains in three years, while Microsoft had its biggest jump in two years and Alphabet, Google’s parent company, made its largest move in more than a year after each company’s results were better than Wall Street expected. Amazon jumped 13 percent, its biggest move in two and a half years, after it got a big boost from its latest “Prime Day” promotion and the purchase of the Whole Foods grocery store chain.

“The transition to cloud computing really played a role in all of those tech results to some extent,” said Brad Sorensen, the director of market and sector analysis for the Schwab Center for Financial Research. Technology companies get a lot of their profits outside the U.S. compared to other industries, so the improving global economy is helping them more.

Other stocks were mixed: retailers fell after J.C. Penney cut its annual forecasts. Drugstores, drugmakers, health care suppliers and pharmaceutical distributors and retailers fell.

The Standard & Poor’s 500 index rose 20.67 points, or 0.8 percent, to 2,581.07. The Dow Jones industrial average made a comparatively modest gain of 33.33 points, or 0.1 percent, to 23,434.19 as drugmaker Merck and oil company Chevron skidded after their third-quarter reports. The Nasdaq composite made its biggest gain since November as it soared 144.49 points, or 2.2 percent, to 6,701.26. The Russell 2000 index of smaller-company stocks picked up 10.86 points, or 0.7 percent, to 1,508.32.

The S&P 500 and Nasdaq finished at all-time highs. The S&P 500 also rose for the seventh consecutive week, something that hadn’t happened since late 2014.

Alphabet climbed $42.25, or 4.3 percent, to $1,033.67 and Microsoft soared $5.05, or 6.4 percent, to $83.81. Intel, the world’s biggest chipmaker, jumped $3.05, or 7.4 percent, to $44.40 after a positive fourth-quarter estimate.

Elsewhere Facebook rose $7.25, or 4.2 percent, to $177.88, its largest gain August 2015. Apple advanced $5.64, or 3.6 percent, to $163.05.

Amazon posted strong results and gave an optimistic outlook for the holiday season. Its stock jumped $128.52, or 13.2 percent, to $1,100.95.

Apple, Alphabet, Microsoft, Amazon and Facebook are the five most valuable companies on the S&P 500, and with investors clamoring to send them higher, Wall Street didn’t pay quite as much attention to some strong economic data. The Commerce Department estimated that the U.S. economy grew 3 percent between July and September even though the country was hit by two major hurricanes. That was better than analysts had anticipated.

Aside from those giant companies, stocks were mixed. J.C. Penney fell to an all-time low after it cut its profit forecast, saying it’s been lowering prices to try clearing out unsold goods. Its stock lost 54 cents, or 14.8 percent, to $3.12. Other retailers like Macy’s and Foot Locker tumbled as well.

Toy maker Mattel plunged after the company posted a huge third-quarter loss and said it will slash spending and stop paying quarterly dividends. The stock lost $1.37, or 8.9 percent, to $14.

Drugstores and prescription drug distributors fell for a second day following reports that Amazon is receiving state licenses allowing it to do business as a prescription drug wholesaler. Walgreens Boots Alliance lost $2.63, or 3.9 percent, to $64.48 and pharmaceutical distributor McKesson lost $7.92, or 5.5 percent, to $135.62.

However, Jefferies and Co. analyst Brian Tanquilut wrote that Amazon appears to have taken out licenses to sell medical equipment, not drugs. He said the company may stick to medical devices and over-the-counter medicines for now, because in order to distribute prescription drugs Amazon would need to establish relationships with pharmacy benefits managers and health insurers.

Benchmark U.S. crude reached a six-month high as it jumped $1.26, or 2.4 percent, to $53.90 a barrel in New York. Brent crude, used to price international oils, rose $1.14, or 1.9 percent, to a two-year high of $60.44 a barrel in London.

Wholesale gasoline rose 2 cents to $1.77 a gallon. Heating oil gained 2 cents to $1.84 a gallon. Natural gas tumbled 14 cents, or 4.8 percent, to $2.75 per 1,000 cubic feet.

Bond prices jumped. The yield on the 10-year Treasury note fell to 2.41 percent from 2.46 percent, a seven-month high.

Gold rose $2.20 to $1,271.80 an ounce. Silver slid 6 cents to $16.75 an ounce. Copper lost 7 cents to $3.10 a pound.

The dollar fell to 113.81 yen from 114 yen. The euro slid to $1.1599 from $1.1657.

Germany’s DAX climbed 0.6 percent and the CAC 40 of France gained 0.7 percent. In Britain, the FTSE 100 rose 0.2 percent. The Spanish Ibex sank 1.5 percent after Catalonia’s regional parliament voted to secede from Spain, adding new tensions to the disagreement between the region and the central government in Madrid. Catalonia, which includes Barcelona, accounts for a fifth of the Spanish economy and Spain is deeply set against allowing it to become independent.

The Nikkei 225 of Japan jumped 1.2 percent and South Korea’s Kospi advanced 0.6 percent. Hong Kong’s Hang Seng index surged 0.8 percent.

4949


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## bigdog

https://www.usnews.com/news/busines...ets-mixed-as-market-awaits-trump-fed-decision

* Stocks Around the World Take a Pause Ahead of Frenetic Week *
*Stock markets around the world took a pause on Monday from their record-setting run ahead of a busy week for markets.*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Stocks retreated from their record highs on Monday, ahead of a frenetic week for markets.

Investors are waiting to learn who the next head of the Federal Reserve will be, what several of the world's biggest central banks will decide on interest rates, and whether Apple and other big U.S. companies can keep piling their profits higher. In the meantime, reports continued to show that the economy is strengthening and negotiations continued in Washington to cut income-tax rates.

Amid the many cross currents, the Standard & Poor's 500 index fell 8.24 points, or 0.3 percent, to 2,572.83 from its record set on Friday. Losses for health care stocks, telecoms and other areas of the market overshadowed gains for technology companies and energy producers.

The Dow Jones industrial average fell 85.45, or 0.4 percent, to 23,348.74, and the Nasdaq composite dropped 2.30, or less than 0.1 percent, to 6,698.96. Smaller stocks fell more than the rest of the market, and the small-cap Russell 2000 index lost 17.42, or 1.2 percent, to 1,490.90.

Investors expect President Donald Trump to announce his choice for the next chair of the Federal Reserve by the end of the week. The central bank has played a pivotal role in the economy's recovery from the Great Recession and the stock market's leap to record after record. Jerome "Jay" Powell, a member of the Federal Reserve's board, is Trump's leading candidate to replace Janet Yellen as the head of the nation's central bank, with an announcement planned for Thursday, according to senior administration officials.

The choice could have far-ranging effects on the markets, particularly if the new chair advocates a more aggressive policy in raising interest rates than Yellen has. Low interest rates have helped to push returns higher for bond funds, stocks and all kinds of other investments around the world. But pressure may be rising for the Fed to increase rates more quickly.

A report on Monday showed that U.S. consumer-spending growth accelerated last month, led by a pickup in auto sales. It's the latest piece of evidence that the economy is picking up momentum.

On Friday, the week's headline economic report is expected to show that job growth continues to be strong and that the unemployment rate remained at a 16-year low.

Against the backdrop of an economy that's growing at a 3 percent annual rate, all those ingredients could lead to higher inflation, something that's been scarce in the global economy for years, said Jim Paulsen, chief investment strategist of the Leuthold Group. That could force the Fed to push rates higher more quickly.

"We've rarely had 3 percent back-to-back quarters of growth in this recovery, and we have never had that when we've been at 4 percent unemployment," he said.

The Federal Reserve is scheduled to start a two-day meeting on Tuesday. Most investors expect the Fed to raise rates at its next meeting in December, which would be the third increase of the year.

Other central banks meeting this week include the Bank of Japan and the Bank of England.

Investors are also waiting to see what progress can be made in Washington on revamping the nation's tax system. Stocks have climbed in recent weeks in part on rising expectations that lower tax bills — and bigger profits — may be on the way for companies. But tax changes still face resistance on Capitol Hill, as Congress looks for ways to raise revenue so the deficit doesn't leap higher.

This week will also see more than 100 companies in the S&P 500 index report their earnings results for July through September. Strong earnings growth has helped to drive the stock market higher, and tech stocks have been delivering some of the most consistent growth. They'll likely need to continue to do so to justify their lofty stock prices. Tech giant Apple will report its results on Thursday.

Merck recorded one of the biggest losses in the S&P 500 on Monday after it withdrew an application to market its Keytruda cancer drug in Europe. Merck fell $3.53, or 6.1 percent, to $54.71.

Telecom stocks were also weak. Shares of Sprint and T-Mobile US plunged after a report from Nikkei in Japan said that Sprint's majority owner, Softbank, wants merger negotiations between the companies called off. Sprint fell 65 cents, or 9.3 percent, to $6.34, and T-Mobile US lost $3.37, or 5.4 percent, to $59.58.

In overseas stock markets, the French CAC 40 was close to flat, Germany's DAX added 0.1 percent and the FTSE 100 in London dipped 0.2 percent. Japan's Nikkei 225 index was virtually flat, South Korea's Kospi rose 0.2 percent and the Hang Seng in Hong Kong lost 0.4 percent.

In the commodities market, benchmark U.S. crude rose 25 cents to settle at $54.15 per barrel. Brent crude, the international standard, rose 46 cents to $60.90 a barrel.

Natural gas was close to flat at $2.97 per 1,000 cubic feet, heating oil added a penny to $1.88 per gallon and wholesale gasoline was close to flat at $1.76 per gallon.

Gold rose $5.90 to $1,277.70 per ounce, silver gained 10 cents to $16.85 per ounce and copper added a penny to $3.11 per pound.

The dollar dipped to 113.18 Japanese yen from 113.81 yen late Friday. The euro rose to $1.1637from $1.1599, and the British pound inched up to $1.3199from $1.3125.

Bond yields fell as prices for Treasurys rose. The yield on the 10-year Treasury note fell to 2.36 percent. The two-year yield dipped to 1.57 percent from 1.60 percent late Friday, and the 30-year yield sank to 2.88 percent from 2.92 percent.


----------



## bigdog

https://www.usnews.com/news/busines...s-sag-after-wall-st-pull-back-weak-china-data

* Stocks Rise: S&P 500 Closes Seventh Straight Month of Gains *
*U.S. stocks inched ahead on Tuesday after the makers of Kellogg's cereal and Oreo cookies joined the parade of companies reporting stronger-than-expected profits for the summer.*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks inched ahead on Tuesday after the makers of Kellogg's cereal and Oreo cookies joined the parade of companies reporting stronger-than-expected profits.

The Standard & Poor's 500 index gained 2.43 points, or 0.1 percent, to 2,575.26, the latest tick higher in what's been a remarkably smooth ride this year. The index closed out October with its seventh straight month of gains, the longest such streak in more than four years.

The Dow Jones industrial average rose 28.50, or 0.1 percent, to 23,377.24, and the Nasdaq composite gained 28.71, or 0.4 percent, to 6,727.67, a new record. Smaller stocks did better than the rest of the market, and the Russell 2000 index of small-cap stocks gained 11.64, or 0.8 percent, to 1,502.53.

Food companies helped lead the market higher after Kellogg and Mondelez International both reported stronger results for the latest quarter than analysts expected. Kellogg jumped $3.66, or 6.2 percent, to $62.53, and Mondelez rose $2.13, or 5.4 percent, to $41.43.

"It's been a fantastic earnings season," said JJ Kinahan, chief market strategist at TD Ameritrade. "People talk about taxes, low interest rates and all these other things, but what really drives the market is earnings."

More than half the companies in the S&P 500 have reported their results for the July-through-September quarter, and most have topped Wall Street's forecasts. Several big names are still on the docket for this week, with Facebook set to report on Wednesday and Apple on Thursday.

Rockwell Automation surged to the biggest gain in the S&P 500 after it received a buyout bid worth $215 per share in cash and stock. The company said it rejected the unsolicited bid from Emerson Electric on Oct. 10. Rockwell Automation jumped $13.82, or 7.4 percent, to $200.82.


On the losing end was Under Armour, which recorded the largest loss in the S&P 500 after it said demand for its sporting gear in North America weakened last quarter and cut its forecast for earnings this year. Its Class A shares fell $3.89, or 23.7 percent, to $12.52.

Besides earnings, investors are also facing a deluge of other events that could be headliners on their own.

Several of the world's largest central banks are meeting this week, and the Bank of Japan decided on Tuesday to keep its interest rates at ultra-low levels. The Bank of England is expected to raise interest rates on Thursday, which would be the first increase in in a decade. And the Federal Reserve will wrap up a two-day meeting on Wednesday, though most economists expect it to wait until its December gathering to raise rates for the third time this year.

More attention is on President Donald Trump's choice for the next Fed chair. He's expected to make the announcement on Thursday, and the leading candidate appears to be Jerome "Jay" Powell, who is already a member of the Fed's board.

The Fed has been slowly raising interest rates, and encouraging economic reports on Thursday further strengthened expectations that it will continue. Confidence among U.S. consumers hit its highest level last month in nearly 17 years, for example.

Investors are also waiting to hear details about Washington's attempts to cut income-tax rates. A cut would help boost profits for companies, and stocks of smaller companies in particular have been rising and falling in sync with expectations for an overhaul of the tax system.


At the end of the week, the government will unveil the month's most anticipated economic data, its jobs report. Economists expect to see continued strength in hiring.

Bond yields held steady Tuesday as prices for Treasurys were close to flat. The yield on the 10-year Treasury note was flat at 2.37 percent, and the two-year yield rose to 1.60 percent from 1.58 percent late Monday. The 30-year Treasury slipped to 2.87 percent from 2.88 percent.

In overseas stock markets, the French CAC 40 rose 0.2 percent, and the FTSE 100 in London rose 0.1 percent. Japan's Nikkei 225 index was virtually flat, while the Hang Seng in Hong Kong lost 0.3 percent and South Korea's Kospi advanced 0.9 percent.

The dollar inched up to 113.71 Japanese yen from 113.18 yen late Monday. The euro ticked up to $1.1651 from $1.1637, and the British pound rose to $1.3282 from $1.3199.

Benchmark U.S. crude oil rose 23 cents to settle at $54.38 per barrel. Brent crude, the international standard, rose 47 cents to $61.37 per barrel.

Natural gas fell 7 cents to $2.90 per 1,000 cubic feet, heating oil was close to flat at $1.88 per gallon and wholesale gasoline rose 2 cents to $1.78 per gallon.

Gold slipped $7.20 to $1,270.50 per ounce, silver lost 15 cents to $16.69 per ounce and copper dipped a penny to $3.10 per pound.


----------



## bigdog

https://www.usnews.com/news/busines...-rise-on-optimism-on-growth-wall-street-gains

* S&P 500 Inches Closer to Record as Global Stocks Rise *
*Stocks around the world pushed higher again on Wednesday, led by companies that pull oil and other commodities from the ground*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Rising energy stocks helped nudge the Standard & Poor's 500 close to its record high, but drops for smaller stocks left U.S. indexes mixed on Wednesday.

Markets around the world were broadly higher as investors got more evidence that the global economy is strengthening and corporate profits are climbing. The Federal Reserve said the U.S. economy is rising "at a solid rate," even with damage from recent hurricanes, as it announced a decision to hold interest rates steady at their low levels.

The S&P 500 rose 4.10 points, or 0.2 percent, to 2,579.36. Earlier in the day, it had climbed above its record closing high of 2,581.07 set last week.

The Dow Jones industrial average gained 57.77 points, or 0.3 percent, to 23,435.01. Other U.S. indexes weakened. The Nasdaq composite fell 11.14 points, or 0.2 percent, to 6,716.53. The small-cap Russell 2000 index lost 10.00 points, or 0.7 percent, to 1,492.78.

Energy stocks led the market, and those in the S&P 500 rose 1.1 percent for the biggest gain among the sectors that make up the index. They climbed after the price of oil topped $55 per barrel to touch its highest level since Jan. 3, though it backtracked as the day went on.

Estee Lauder jumped to the biggest gain in the S&P 500 after strong sales growth in China and Hong Kong helped it to report a bigger profit than analysts expected. It rose $10.31, or 9.2 percent, to $122.12.

The cosmetics giant joined the growing list of companies that beat analysts' expectations for earnings in the most recent quarter. Nearly two thirds of companies in the S&P 500 have said how they performed from July through September, and the majority have topped Wall Street's forecasts.


They have been reaping better revenue and profits as the economy strengthens, and a report on Wednesday showed that private employers added more jobs last month than economists expected. It raises expectations that Friday's more comprehensive jobs report from the government will be strong too.

"What we've been waiting for the last five-plus years is stronger economic growth leading to better employment numbers, or one feeding into the other, and leading to stronger wage growth," said Jon Mackay, investment strategist at Schroders. "We just haven't seen the wage growth part of it, but now we're seeing the wage growth start to tick through."

Other economies around the world are also improving in sync, which further raises optimism. "Globally, it tends to have a self-reinforcing effect," Mackay said. "People buy more goods from the U.S., emerging-market economies do better, banks have the capacity to lend more, and that leads to more capital spending and more consumer spending. At some point, it becomes overdone, but we're not anywhere close to that yet."

With the economy improving, the Federal Reserve has been slowly increasing interest rates from their record low. On Wednesday, it decided to hold rates steady, but most economists expect it to raise them at its next meeting in December.

The weakest part of the stock market on Wednesday was smaller stocks. They have generally been rising and falling in recent weeks with expectations that Congress will be able to overhaul the tax system and cut rates. Smaller companies often pay higher tax rates than their bigger rivals.

But House Republicans missed a self-imposed Wednesday deadline for a public release of their tax plan, as members debate whether to change the tax benefits of 401(k) contributions and other details. The rollout appears set for Thursday.


In overseas stock markets, the French CAC 40 rose 0.2 percent, the FTSE 100 in London dipped 0.1 percent and Germany's DAX rose 1.8 percent. The Japanese Nikkei 225 index jumped 1.9 percent, South Korea's Kospi gained 1.3 percent and the Hang Seng in Hong Kong climbed 1.2 percent.

In the commodities market, benchmark U.S. crude dipped 8 cents to settle at $54.30 per barrel. Brent crude, the international standard, fell 45 cents to $60.49. Natural gas was virtually flat at $2.89 per 1,000 cubic feet, heating oil fell 2 cents to $1.86 per gallon and wholesale gasoline rose 1 cent to $1.74 per gallon.

Gold rose $6.80 to settle at $1,277.30 per ounce, silver gained 48 cents to $17.18 per ounce and copper climbed 4 cents to $3.14 per pound.

The 10-year Treasury yield dipped to 2.37 percent from 2.38 percent late Tuesday. The two-year yield held steady at 1.60 percent, and the 30-year yield dipped to 2.85 percent from 2.88 percent.

The dollar rose to 114.22 Japanese yen from 113.71 yen late Tuesday. The euro dipped to $1.1620 from $1.1651, and the British pound fell to $1.3249 from $1.3282.


----------



## bigdog

https://www.usnews.com/news/busines...markets-mixed-as-market-await-next-fed-leader

* US Stocks End Mixed on Tax Proposals and Shaky Forecasts *

*US stocks finished mixed as House Republicans' tax cut proposals give smaller companies a boost, but home improvement retailers and homebuilders fall as the plan calls for reducing the tax deduction for interest on mortgage payments.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks finished mixed on Thursday as investors pored over House Republican's tax proposals and President Donald Trump picked Fed Governor Jerome "Jay" Powell to lead the Federal Reserve. Weak results from consumer and health care companies pulled those parts of the market lower.

The House tax plan would temporarily cut the top corporate tax rate to 20 percent from 35 percent. That helped smaller, more U.S.-focused companies, because they generally pay higher tax rates than larger firms that do a lot of business in other countries. Home improvement retailers and homebuilders slumped because the bill would reduce the amount of interest Americans can deduct on new mortgages. That could hurt home sales, particularly in high-cost areas.

The GOP tax plan was mostly what investors expected, said Mona Mahajan, U.S. investment strategist for Allianz Global Investors. She noted that the bill would immediately lower the corporate tax rate instead of reducing it over time, an idea some Republicans had proposed earlier.

"That alone is a win for corporations becoming more competitive with global peers, especially the small cap and domestic companies," she said.

The choice of Powell also didn't surprise Wall Street, as he had been seen as the most likely pick for a week or so. If he's approved by the Senate, Powell would replace current Chair Janet Yellen when her term ends in February. He has been a Fed policymaker since 2012 and is generally seen as favoring lower interest rates than other top candidates. Investors expect him to keep raising rates at the gradual pace the Fed has maintained over the last few years.

The Standard & Poor's 500 index rose 0.49 points to 2,579.85. The Dow Jones industrial average added 81.25 points, or 0.3 percent, to a record 23,516.26. The Nasdaq composite sank 1.59 points to 6,714.94. The Russell 2000 index of smaller-company stocks picked up 3.77 points, or 0.3 percent, to 1,496.55. Slightly more stocks on the New York Stock Exchange fell than rose.


The House tax plan could go through major changes, and Republicans have a slimmer majority in the Senate. As written, it would double the standard deduction used by most taxpayers to $12,000 for individuals and $24,000 for families and increase the child tax credit. The deduction for state income taxes would be eliminated and a deduction for local property taxes would shrink. It sets a 10 percent tax on profits for overseas subsidiaries of U.S. corporations and would let U.S. companies return profits stockpiled overseas at a one-time 12 percent rate.

Mahajan said a cut in personal taxes could boost consumer spending and economic growth, but she thinks companies would spend most of the savings from a corporate tax cut on dividends and stock buybacks instead of investment that would speed up economic growth.

Another part of the bill would reduce the widely-used deduction for mortgage interest for new home loans. It would cap the deduction for mortgage interest at the first $500,000 of the loan, half the current limit of $1 million. That change would apply only to new loans.

Luxury homebuilder Toll Brothers sank $2.84, or 6.1 percent, to $43.79. Retailer Home Depot fell $2.67, or 1.6 percent, to $162.71.

Several notable companies plunged after they cut their annual forecasts. Sharpie and Rubbermaid maker Newell Brands tumbled $10.99, or 26.6 percent, to a three-year low of $30.01. Underwear and sock maker Hanesbrands lost $1.93, or 8.8 percent, to $20.08.


While Powell, the proposed Federal Reserve chair, is seen as similar to Yellen in important ways, he shares Trump's interest in reducing some of the banking regulations that were imposed after the 2008-09 financial crisis.

Trump's first Federal Reserve appointment, Randy Quarles, was approved last month, and Allianz strategist Mahajan noted that three more Federal Reserve spots are open because of some early retirements and positions that Senate Republicans blocked President Barack Obama from filling. That means Trump can quickly pick several more policymakers who support his goals.

"He has a really unprecedented opportunity to shape the Fed like none other," she said.

In electronic trading, Apple climbed 3.5 percent after its fiscal fourth-quarter results and its forecasts were better than expected.

Bond prices rose. The yield on the 10-year Treasury note declined to 2.35 percent from 2.37 percent. The yield on the 2-year note fell to 1.60 percent from 1.62 percent.

U.S. crude oil rose 24 cents to $54.54 a barrel in New York. Brent crude, the standard for international oil prices, picked up 13 cents to $60.62 a barrel in London.

Wholesale gasoline added 3 cents to $1.77 a gallon. Heating oil fell 1 cent to $1.85 a gallon. Natural gas rose 4 cents to $2.94 per 1,000 cubic feet.

Gold rose 80 cents to $1,278.10 an ounce. Silver dipped 4 cents to $17.14 an ounce. Copper remained at $3.14 a pound.

The dollar slipped to 114 yen from 114.22 yen. The euro rose to $1.1659 from $1.1620.

The Bank of England raised interest rates for the first time in a decade. The pound fell as investors felt rates won't go up again soon, and the British FTSE 100 index rose 0.9 percent. Germany's DAX fell 0.3 percent and the CAC 40 in France declined 0.1 percent. Tokyo's Nikkei 225 gained 0.5 percent and the South Korean Kospi fell 0.4 percent while Hong Kong's Hang Seng index shed 0.3 percent.


----------



## bigdog

https://www.usnews.com/news/busines...muted-as-investors-assess-china-data-fed-pick

* Rising Tech Stocks Send S&P 500 to Record, 8th Weekly Gain*

*Rising technology stocks helped lift U.S. indexes on Friday, and the Standard & Poor's 500 index recorded an eighth straight week of gains.*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Another spurt higher for Apple and other technology stocks helped the Standard & Poor's 500 set a new record on Friday, and the index closed out an eighth straight week of gains.

It was another mostly calm day for markets after a report showed that the U.S. job market strengthened last month, though not by as much as expected. Bond yields held relatively steady, stock markets around the world rose modestly and the price of oil climbed to its highest level in more than two years.

The S&P 500 rose 7.99 points, or 0.3 percent, to 2,587.84 after flipping between modest gains and losses earlier in the day. The push higher helped it clinch its longest weekly winning streak in nearly four years.

The Dow Jones industrial average rose 22.93 points, or 0.1 percent, to 23,539.19, and the Nasdaq composite climbed 49.49 points, or 0.7 percent, to 6,764.44.

Technology stocks led the way, as they have for most of this year. Apple was at the forefront after it reported stronger revenue and earnings for the latest quarter than analysts forecast. A new iPhone model debuted on Friday, and Apple said it expects the $1,000 phone to make this holiday season its best quarter ever. Apple shares rose $4.39, or 2.6 percent, to $172.50.

On the losing side was American International Group, which fell to one of the sharpest losses in the S&P 500 after it reported weaker results for the latest quarter than analysts expected. The insurer's shares dropped $2.98, or 4.6 percent, to $62.00.

AIG was an outlier in what has been a better-than-expected earnings season. Most companies have delivered higher profits for the July-through-September quarter than Wall Street had forecast, with growth particularly strong for the technology sector.


Early in the day, gains for the market were more tentative after the government released the most highly anticipated economic report of each month: the jobs report.

Employers added 261,000 jobs in October, and the unemployment rate dipped to 4.1 percent, its lowest level in nearly 17 years. But job and wage growth were weaker than economists forecast. Average hourly earnings were up 2.4 percent from a year earlier, a slowdown from September's 2.8 percent rate.

While the jobs report offered a mixed bag, other economic reports on Friday were more encouraging, including ones that showed better-than-expected growth in the nation's service sector and factories, said Phil Orlando, chief equity market strategist at Federated Investors. That has him and other investors confident that the economy is continuing to strengthen, which should translate into higher corporate profits.

"I think these numbers will clean themselves up in the next month or two," Orlando said.

Economists said the last two months' jobs reports have been difficult to parse because of the damage that hurricanes did across broad swaths of the economy. The government initially said employers cut 33,000 jobs in September, but on Friday it said that employment actually grew by 18,000 during the month.

The mostly encouraging reports on the economy bolstered expectations that the Federal Reserve will raise interest rates at its next meeting in December. It would be the third increase this year.

The Fed is slowly reining in the stimulus it provided the economy following the Great Recession. Besides gradually raising interest rates, it's also trimming its bond-investment portfolio. Economists expect the slow pace to continue, even as a new chairman arrives. President Donald Trump on Thursday nominated Jerome "Jay" Powell to succeed Janet Yellen, whose term expires in February.


Interest rates held relatively steady. The yield on the 10-year Treasury note dipped to 2.33 percent from 2.35 percent late Thursday. The two-year yield was unchanged at 1.61 percent, and the 30-year yield slipped to 2.81 percent from 2.83 percent.

In the commodities market, benchmark U.S. crude jumped $1.10 to $55.64 per barrel, its highest settlement price since July 2015. Brent crude, the international standard, rose $1.45 to $62.07.

Natural gas rose 5 cents to $2.98 per 1,000 cubic feet, heating oil gained 3 cents to $1.89 per gallon and wholesale gasoline climbed 2 cents to $1.79 per gallon.

Gold fell $8.90 to $1,269.20 per ounce, silver lost 30 cents to $16.83 per ounce and copper dropped 3 cents to $3.12 per pound.

In overseas stock markets, the French CAC 40 rose 0.1 percent, Germany's DAX gained 0.3 percent and the FTSE 100 in London added 0.1 percent.

South Korea's Kospi index rose 0.5 percent, and the Hang Seng in Hong Kong gained 0.3 percent. Japan's market was closed for a holiday.

The dollar rose to 114.16 Japanese yen from 114.00 yen late Thursday. The euro dipped to $1.1608 from $1.1659, and the British pound rose to $1.3069 from $1.3060.

*5338*


----------



## bigdog

https://www.usnews.com/news/busines...own-after-weak-us-jobs-as-trump-trip-in-focus

* Stocks Rise as Oil Jumps 2-Year High; Chipmakers Climb *

*US stocks are rising as oil prices jump to a two-year high on reports of tumult in Saudi Arabia and technology companies rise as investors consider potential deals among chipmakers.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks made modest gains and set more records Monday as upheaval in oil-rich Saudi Arabia sent crude prices to two-year highs. Chipmakers and media companies climbed on deal reports while phone and household goods companies sank.

U.S. crude oil reached its highest price since mid-2015 after dozens of Saudi princes and senior officials and businessmen were arrested as part of a purported corruption investigation. Saudi Arabia is the world's largest exporter of oil, and investors wondered if the tumult could constrict oil supplies and drive prices higher. Energy companies jumped, with drilling companies making some of the biggest gains.

Chipmakers surged after Broadcom offered to buy competitor Qualcomm for $103 billion, which would be the largest technology acquisition ever if it's completed. Wireless carriers Sprint and T-Mobile tumbled after they called off merger talks over the weekend, and reports that Sprint's owner, Japanese conglomerate SoftBank, might buy cable company Charter hammered shares of telecom giants AT&T and Verizon, which might face tougher competition.

Doug Coté, chief market strategist for Voya Investment Management, said in the years after the global economic crisis, companies combined so they could survive. But now that the global economy is doing much better, they're merging for different reasons.

"Global economic growth is expanding somewhat rapidly and the M&A is looking to capitalize on the growth areas, in particular technology," he said. "Any capital investment cycle will begin with technology."

Companies that make and sell household goods slumped on weak quarterly results from CVS Health and food distributor Sysco. Late in the day Twenty-First Century Fox and Disney both climbed after CNBC reported the two sides recently discussed a deal in which Disney would buy most of Fox's assets. Those talks were said to have ended without an agreement.


The Standard & Poor's 500 index rose 3.29 points, or 0.1 percent, to 2,591.13. The Dow Jones industrial average added 9.23 points, or less than 0.1 percent, to 23,548.42. The Nasdaq composite gained 22 points, or 0.3 percent, to 6,786.44. The Russell 2000 index of smaller-company stocks picked up 3.05 points, or 0.2 percent, to 1,497.96.

Broadcom's unsolicited offer values Qualcomm at $70 a share, and it would combine two companies that control about 40 percent of the market for chips used in cellphones. Qualcomm stock has been battered this year as the company is stuck in a legal battle with its biggest customer, Apple. Combining with Broadcom might help Qualcomm end that dispute.

Qualcomm added 71 cents, or 1.1 percent, to $62.52 and Broadcom rose $3.89, or 1.4 percent, to $277.52. Qualcomm stock jumped 12.7 percent Friday on reports Broadcom was going to make an offer. Apple also rose $1.75, or 1 percent, to $174.25 as technology companies rose for the eight straight day.

That wasn't the only potential chip tie-up in the news. After the Wall Street Journal reported that Marvell Technologies is in talks to buy Cavium, Cavium advanced $8.16, or 12 percent, to $76.43 and Marvell rose $1.69, or 9.1 percent, to $20.20.

Sprint fell 77 cents, or 11.5 percent, to $5.90 and T-Mobile sank $3.37, or 5.7 percent, to $55.54 after they dashed investors' hopes they would finally combine.

Verizon dropped $1.89, or 4 percent, to $45.53 and AT&T slid 44 cents, or 1.3 percent, to $32.86 after more reports that Japanese conglomerate SoftBank, which owns Sprint, is interested in buying cable provider Charter Communications. CNBC reported on those discussions Monday while the New York Post said last week that the companies had recent talks about a deal. Combining Sprint and Charter, the country's second-largest cable company, could mean cost savings, deeper pockets and a combined wireless-home internet company that could act as a stronger competitor to AT&T and Verizon.


U.S. crude oil surged $1.71, or 3.1 percent, to $57.35 a barrel in New York. Brent crude, the international standard, climbed $2.20, or 3.5 percent, to $64.27 a barrel in London.

The arrests in Saudi Arabia were part of a purported anti-corruption probe led by Crown Prince Mohammed bin Salman, and they came as a surprise because the royal family normally appears unified in public.

Coté, of Voya Investment Strategies, said he is skeptical that any problems in Saudi Arabia will lead to higher oil prices because he thinks American companies will drill for more oil if prices stay where they are. That will increase supplies and push prices down.

With international tumult in the news, investors bought gold and government bonds. Gold rose $12.40, or 1 percent, to $1,281.60 an ounce. Silver jumped 40 cents to $17.24 an ounce. Copper climbed 4 cents to $3.16 a pound.

The yield on the 10-year Treasury note slipped to 2.32 percent from 2.33 percent.

In other energy trading, wholesale gasoline added 4 cents to $1.83 a gallon. Heating oil rose 6 cents to $1.94 a gallon. Natural gas jumped 15 cents, or 5 percent, to $3.13 per 1,000 cubic feet.

The dollar dipped to 113.77 yen from 114.16 yen. The euro rose to $1.1606 from $1.1608.


In Britain, the FTSE 100 made a tiny gain while France's CAC 40 shed 0.2 percent. The German DAX also dipped 0.1 percent. Japan's Nikkei 225 made a tiny gain and South Korea's Kospi dropped 0.3 percent. Hong Kong's Hang Seng index lost less than 0.1 percent.


----------



## bigdog

*My apologies and forgot to post earlier today*

*ALL Ordinaries yesterday closed at 6087.40,   +60.20,   +0.99%*

*ALL Ordinaries reported in table below is today at 11:15*






https://www.usnews.com/news/busines...tocks-rise-after-wall-street-gains-oil-surges

* Losses for Banks and Smaller Companies Take US Stocks Lower *
*US stocks take modest losses as banks and smaller, domestically-focused companies stumble.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks slipped Tuesday as smaller companies and banks took their worst losses in a few months. With stock indexes near record highs, investors moved some money into big-dividend stocks like real estate companies.

Banks and other financial companies have been climbing over the last two months, but Tuesday they skidded as interest rates moved lower. Small, domestically-focused companies had their worst day since mid-August as House Republicans began making changes to their tax bill. Their Senate counterparts are expected to introduce their own bill soon. Smaller companies tend to pay higher tax rates than their bigger peers because they make more of their money in the U.S. and don't have as many ways to reduce their taxes.

"Financials would be a primary beneficiary of a 20 percent corporate tax rate because they're domestically based and they pay domestic taxes," said Quincy Krosby, chief market strategist at Prudential Financial.

While the pace of company earnings is slowing, they continued to hold sway over parts of the market. Travel booking companies TripAdvisor and Priceline both plunged while Weight Watchers continued to surge after it raised its forecasts for the year. The weight loss company has more than quadrupled in value this year.

The Standard & Poor's 500 index dipped 0.49 points to 2,590.64. The Dow Jones industrial average added 8.81 points to 23,557.23, another record high. The Nasdaq composite fell 18.65 points, or 0.3 percent, to 6,767.78. The Russell 2000 index tumbled 18.87 points, or 1.3 percent, to 1,479.09.

Banks fell along with bond yields and interest rates. Both have moved lower over the last few days, which reduces the profits banks make from lending. The yield on the 10-year Treasury note slipped to 2.31 percent from 2.32 percent.

JPMorgan Chase fell $2.03, or 2 percent, to $98.75 and U.S. Bancorp lost $1.40, or 2.6 percent, to $53.45. First Financial Bancshares, a smaller, Texas-based bank, fell $1.15, or 2.5 percent, to $44.40.

Red Robin Gourmet Burgers plunged after it slashed its profit forecast. It pointed to higher labor costs and said it will temporarily stop opening new locations at the end of its next fiscal year. The stock lost $19.35, or 28.9 percent, to $47.70. Consumer products distributor Core-Mark fell $3.07, or 9.1 percent, to $30.63 after it cut its outlook.

Household goods makers, utilities, and other companies that pay big dividends did better than the rest of the market. Drugstore and pharmacy benefits company CVS Health jumped $2.15, or 3.2 percent, to $68.95 to recover some of its recent losses. Shopping mall operator GGP soared $3.19, or 16.8 percent, to $22.20. Bloomberg reported that GGP is in talks with Brookfield Asset Management about potentially buying the rest of the company. Competitor Macerich jumped $4.57, or 8.4 percent, to $58.76.

Real estate, household goods and phone companies have lagged far behind the S&P 500 this year. The stocks are generally seen as cautious investments, and investors look for them when they are worried about market volatility. But investors have been betting on improved economic growth rather than looking for safety.

Travel website TripAdvisor plunged after its third-quarter revenue fell short of analyst estimates. Booking service Priceline Group had a better-than-expected quarter, but its forecasts for the current quarter disappointed Wall Street. Analysts said the company is spending a lot of money on advertising, but that may pay off with increased market share. TripAdvisor sank $9.18, or 23.2 percent, to a five-year low of $30.35 while Priceline lost $257.28, or 13.5 percent, to $1,645.72. Expedia shed $3.37, or 2.7 percent, to $119.61.

However Royal Caribbean Cruises jumped $3.89, or 3.1 percent, to $129.23 after it had a strong quarter even though its business was disrupted by three major hurricanes.

Drugmaker Mallinckrodt plunged after it said sales of its costly HP Acthar gel have been hurt because fewer prescriptions are being filled. It said revenue from the drug will decline in the fourth quarter. The company also reported weaker sales of generic drugs. Already trading at all-time lows, the stock dropped $11.07, or 35.5 percent, to $20.11.

Benchmark U.S. crude fell 15 cents to $57.20 a barrel in New York. Brent crude, used to price international oils, dipped 58 cents to $63.69 a barrel in London. Oil prices rose about 3 percent Monday and hit two-year highs after a wave of arrests of princes and other officials in Saudi Arabia. Investors wondered if the upheaval could affect oil supplies and prices.

Wholesale gasoline lost 1 cent to $1.82 a gallon. Heating oil fell 2 cents to $1.92 a gallon. Natural gas rose 2 cents to $3.15 per 1,000 cubic feet.

Gold lost $5.80 to $1,275.80 an ounce. Silver fell 30 cents to $16.94 an ounce. Copper declined 7 cents to $3.09 a pound.

The dollar rose to 113.87 yen from 113.77 yen. The euro fell to $1.1589 from $1.1606.

European stocks fell. The British FTSE 100 and the German DAX each shed 0.7 percent. The CAC 40 in France lost 0.5 percent. Tokyo's Nikkei 225 jumped 1.7 percent and Hong Kong's Hang Seng advanced 1.3 percent. In Seoul, the Kospi lost 0.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines.../asian-markets-fall-after-wall-street-decline

* Stocks Tick Upward as Video Game Makers Jump, but Banks Skid *
*US stock indexes finish slightly higher as video game makers jump while banks and energy companies slip.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stock indexes finished with small gains Wednesday as video game makers gave technology companies a boost and household goods companies also rose. However a recent decline in interest rates continued to put pressure on banks.

"Grand Theft Auto" and "NBA2K" maker Take-Two Interactive Software soared after it reported better-than-expected sales, while Activision Blizzard jumped after it said the newest "Call of Duty" game had a strong debut over the weekend. Technology companies rose for the tenth day in a row. Companies that make and sell household goods, like Colgate-Palmolive and Wal-Mart, gained ground as well. Energy companies declined and banks fell again as interest rates have weakened since late October, which makes mortgages and other loans less profitable.

The Standard & Poor's 500 index rose 3.74 points, or 0.1 percent, to 2,594.38. The Dow Jones industrial average gained 6.13 points, or less than 0.1 percent, to 23,563.36. The Nasdaq composite rose 21.34 points, or 0.3 percent, to 6,789.12. All three closed at record highs. The Russell 2000 index of smaller-company stocks picked up 2.64 points, or 0.2 percent, to 1,481.73.

It's now been a year since Donald Trump was elected president in an upset, and the S&P 500 has jumped 21 percent. That's more than stocks have risen after many recent presidential elections, although it trails the market move after Barack Obama was re-elected in 2012. Investors felt stocks would do well under a Trump administration, and so far they have, but there have been some major surprises. The biggest is that stocks in other regions, including Europe, Japan and less developed countries, have done ever better.

"Investors were right to be optimistic post-election, but not because of politics," said Jason Draho, the head of American tactical asset allocation for UBS Wealth Management.

Trump and Congressional Republicans haven't delivered the big infrastructure spending bill Trump proposed while campaigning, and it's not clear if they will be able to pass a tax cut that makes a real difference for the economy. But Draho said stocks keep rising because the global economy is doing so well. The economies of the 35 advanced nations in the Organization for Economic Cooperation and Development are all expected to grow this year, and most are gaining steam. Meanwhile, Trump hasn't had a major effect on international trade agreements, as some investors feared.

"In some ways it's worked out better than investors have hoped," Draho said.

Technology companies have climbed almost 40 percent in the last 12 months including Wednesday's gains. Take-Two jumped after its second-quarter revenue blew past Wall Street's estimates. Analysts said its revenue from online games and digital spending was better than expected. The stock soared $11.26, or 10.6 percent, to $117.65. Activision Blizzard surged $3.59, or 5.9 percent, to $64.44 after it said revenue for "Call of Duty: WWII" topped $500 million in its opening weekend.

Bond prices inched lower. The yield on the 10-year Treasury note rose to 2.33 percent from 2.32 percent. Yields reached a seven-month high in late October but they have slipped since then. Investors expect interest rates to rise a bit more slowly in the future, partly because President Donald Trump named Jay Powell as his choice for Federal Reserve chair last month. Powell is expected to take a similar approach to current Fed Chair Janet Yellen and raise rates at a gradual clip. Some of the other candidates for the job were expected to move faster.

Bank of America fell 39 cents, or 1.4 percent, to $26.79 and Comerica shed $1.02, or 1.3 percent, to $76.14. Still, banks are trading around their highest levels in a decade.

Time Warner Cable slumped after AT&T said it doesn't know when its purchase of the media company will close. Reports from The New York Times, CNN and other outlets, citing unidentified people, said the Justice Department wants to require the companies to sell Turner Broadcasting, which includes CNN, TBS and TNT, or else sell satellite TV provider DirecTV, which AT&T bought in 2015. Time Warner Cable has slumped over the last month as investors wonder if the $85 billion deal will still happen.

On Wednesday Time Warner Cable slid $6.16, or 6.5 percent, to $88.50 and AT&T rose 37 cents, or 1.1 percent, to $33.44.

Benchmark U.S. crude fell 39 cents to $56.81 a barrel in New York. Brent crude, used to price international oils, dipped 20 cents to $63.49 a barrel in London.

Wholesale gasoline rose 1 cent to $1.82 a gallon. Heating oil stayed at $1.92 a gallon. Natural gas picked up 2 cents to $3.18 per 1,000 cubic feet.

Gold rose $7.90 to $1,283.70 an ounce. Silver jumped 20 cents to $17.14 an ounce. Copper rose 1 cent to $3.10 a pound.

The dollar fell to 113.78 yen from 113.87 yen. The euro rose to $1.1596 from $1.1589.

Germany's DAX gained a sliver of a point and the French CAC 40 dropped 0.2 percent. The FTSE 100 index in Britain rose 0.2 percent. In Japan the Nikkei 225 index shed 0.1 percent while Hong Kong's Hang Seng retreated 0.3 percent. The Kospi in South Korea advanced 0.3 percent.


----------



## bigdog

https://www.usnews.com/news/busines...s-mixed-as-investors-watch-trumps-china-visit

* Industrial and Tech Stocks Fall on Potential Tax Cut Delay *
*US stocks slide after Senate Republicans propose delaying a cut in corporate tax rates for a year.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks skidded Thursday after Senate Republicans surprised Wall Street by proposing a delay in cutting corporate taxes. Industrial and technology companies fell the most, but stocks regained some of their losses before the closing bell.

Senate Republicans introduced a tax bill a week after their House counterparts did the same. While both bills would ultimately reduce the corporate tax rate to 20 percent from 35 percent, the Senate legislation doesn't do that until 2019. However the worst results Thursday came not from the smaller, U.S.-focused companies that might benefit the most from a domestic tax cut, but from larger multi-national companies like industrial and technology firms and basic materials makers.

Industrial companies had their worst day in almost three months. Weak reports from aircraft parts maker TransDigm and medical waste processor Stericycle were partly to blame, while a weak forecast from Johnson Controls also hurt the sector. Media companies traded higher after a solid report from Twenty-First Century Fox and energy companies also rose. At midday stocks were on track for their biggest loss in months, as the Dow Jones industrial average fell as much as 253 points, but they made up some of that ground in the afternoon.

The stock sectors that fell Thursday include some of the best-performing stocks on the market this year, and investors reacted to the potentially delayed tax cut by taking some profits.

"Most investors knew there was uncertainty about the specific provisions, but thought that the House and the Senate would at least agree there would be some kind of cut in corporate tax rates in 2018," said Kate Warne, an investment strategist at Edward Jones.

The Standard & Poor's 500 index dropped 9.76 points, or 0.4 percent, to 2,584.62. The Dow Jones industrial average fell 101.42 points, or 0.4 percent, to 23,461.94. The Nasdaq composite slid 39.07 points, or 0.6 percent, to 6,750.05. Each closed at an all-time high on Wednesday. The Russell 2000 index of smaller-company stocks fell 6.71 points, or 0.5 percent, to 1,475.02, its lowest level since late September.

Google's parent company Alphabet tumbled $157, or 1 percent, to $1,047.22 while payment company eBay lost $1.32, or 3.6 percent, to $35.69.

Warne added that something else worried investors Thursday: reports over the last two days that the Justice Department has objections to AT&T's purchase of Time Warner Cable. Donald Trump's administration has emphasized cutting regulations, and she said investors are surprised the government is taking issue with the $85 billion deal — and that the Justice Department and the companies are arguing about it in public.

After a steep loss Wednesday, Time Warner Cable fell a further $1.45, or 1.6 percent, to $87.05 and AT&T rose 56 cents, or 1.7 percent, to $34.

Twenty-First Century Fox posted a bigger profit and more revenue than investors expected. Analysts said its cable networks did well, and it didn't lose subscribers the way some of its competitors have done recently. Its stock added 61 cents, or 2.2 percent, to $28.70 and cable provider Comcast gained 35 cents, or 1 percent, to $36.56. Walt Disney, which was reported this week to have spoken to Fox about buying most of its entertainment assets, added $1.50, or 1.5 percent, to $102.68.

Macy's surged $1.93, or 11 percent, to $19.50 after its third-quarter profit was greater than expected. Competitor Kohl's reversed most of an early loss and picked up 38 cents to $41.17 cents to $40.65. Dillard's jumped $6.20, or 12.2 percent, to $57.22 following its report. Macy's and Kohl's have both fallen sharply this year as they deal with falling sales and growing competition from online retailers.

Benchmark U.S. crude gained 36 cents to $57.17 a barrel in the New York. This week oil has been trading at its highest prices since the middle of 2015. Brent crude, used to price international oils, added 44 cents to $63.93 a barrel in London.

Wholesale gasoline held steady at $1.82 a gallon. Heating oil rose 3 cents to $1.95 a gallon. Natural gas climbed 3 cents to $3.20 per 1,000 cubic feet.

Gold rose $3.80 to $1,287.50 an ounce. Silver lost 16 cents to $16.98 an ounce. Copper dipped 1 cent to $3.09 a pound.

Bond prices were little changed. The yield on the 2-year Treasury note fell to 1.64 percent from 1.65 percent. The yield on the 10-year note remained at 2.33 percent.

The dollar fell to 113.32 yen from 113.78 yen. The euro rose to $1.1643 from $1.1596.

European stocks also sank. Germany's DAX gave up 1.5 percent and the CAC 40 in France dropped 1.2 percent. Britain's FTSE 100 shed 0.6 percent. Japan's Nikkei 225 index surged as much as 2 percent early on but finished with a loss of 0.2 percent. The Kospi in South Korea lost 0.1 percent and Hong Kong's Hang Seng added 0.8 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ares-track-wall-street-losses-on-us-tax-fears

* US Stocks on Two-Day Losing Streak as Health Stocks Fall *
*US stocks fall for second day as medical device makers take sharp losses.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — So that's what a losing streak feels like. Stocks fell for the second day in a row Friday, which hadn't happened in a month, as Amazon put a scare into yet another industry: medical device and health care equipment companies.

Those companies slumped after an analyst for Citi Investment Research said Amazon might be on the verge of shaking up their industry by speeding up distribution and cutting prices. Energy companies gave up some of their recent gains while retailers, media companies and household goods companies moved higher. Stocks finished the week with small losses, ending an eight-week winning streak.

One factor in those losses was uncertainty over the Republican plan to cut taxes. Stocks dipped Thursday after Senate Republicans proposed leaving corporate tax rates alone in 2018 before cutting them in 2019. That surprised investors, who pulled stocks down slightly from their recent record highs.

"We would expect a little bit more of that as we get more delays and uncertainty in the tax plan," said Sean Lynch, the co-head of global equity strategy for Wells Fargo Investment Institute. Lynch said an eventual tax cut for companies, and for at least some individuals, would give investors "a dose of confidence" that company earnings will grow a bit faster and the economy and stock market will rise for a bit longer.

The Standard & Poor's 500 index lost 2.32 points, or 0.1 percent, to 2,582.30. The Dow Jones industrial average slid 39.73 points, or 0.2 percent, to 23,422.21. The Nasdaq composite turned higher and rose 0.89 points to 6,750.94. The Russell 2000 index of smaller-company stocks inched up 0.26 points to 1,475.27.

The S&P 500 set an all-time high on Wednesday, but finished the week down 0.2 percent. The index had gained five percent over its winning streak, the longest in almost four years. The Russell 2000, which is comprised of smaller companies that might benefit more from a corporate tax cut, fell 1.3 percent this week. That was its largest loss in three months.


Citi Investment Research analyst Amit Hazan wrote Friday that Amazon is making quick progress in the medical supply field and could soon start distributing goods to hospitals, as some organizations appear interested in working with the online retail giant.

"New online distribution/wholesaling models like Amazon's will come to dominate the supply chain" in coming years, Hazan said.

Baxter International, which sells intravenous pumps and other hospital equipment, fell $1.35, or 2.1 percent, to $64.04. Becton, Dickinson dipped $5.25, or 2.3 percent, to $219.23. Medical device maker Medtronic slid $1.48, or 1.8 percent, to $79.33.

Competition with Amazon has hurt retailers for years and the online giant has also pressured supermarkets and grocery stores with its purchase of Whole Foods. In recent weeks, health care product companies, medication distributors and drugstores have all fallen as Wall Street wondered what Amazon's logistics expertise and its willingness to slash prices will do to their businesses. Drugstores CVS and Walgreens jumped Friday; investors may be relieved that Amazon could turn its focus to industries they are less involved in.

Long-suffering department stores made gains Friday. J.C. Penney advanced 42 cents, or 15.3 percent, to $3.17 after it said a closely-watched sales measurement grew for the first time in more than a year. The company also took a smaller quarterly loss than analysts had expected. Macy's built on its 11 percent jump a day ago and added another 48 cents, or 2.5 percent, to $19.98. Competitor Kohl's rose $1.87, or 4.5 percent, to $43.04. All of those companies have seen their sales and stocks tumble in large part because of increasing online competition.


Walt Disney Co. rose $2.10, or 2 percent, to $104.78 after it said it received bigger payments from cable companies for ESPN and offered more details about its planned sports streaming services. The company also announced plans for a new "Star Wars" film trilogy. "Star Wars: The Force Awakens," released in late 2015, grossed about $2 billion and investors have high hopes for next month's "The Last Jedi."

U.S. crude oil lost 43 cents to $56.74 a barrel in New York. Brent crude, used to price international oils, gave up 41 cents to $63.52 a barrel in London.

Wholesale gasoline gave up 1 cent to $1.81 a gallon. Heating oil lost 1 cent to $1.93 a gallon. Natural gas rose 1 cent to $3.21 per 1,000 cubic feet.

Bond prices slumped. The yield on the 10-year Treasury note rose to 2.38 percent from 2.34 percent.

Gold dropped $13.30, or 1 percent, to $1,274.20 an ounce. Silver fell 10 cents to $16.87 an ounce. Copper lost 1 cent to $3.08 a pound.

The dollar rose to 113.54 yen from 113.32 yen. The euro fell to $1.1618 from $1.1643.

The FTSE 100 index in Britain fell 0.7 percent. The French CAC 40 lost 0.5 percent and the German DAX dipped 0.4 percent. Japan's benchmark Nikkei 225 index lost 0.8 percent and South Korea's Kospi fell 0.3 percent. In Hong Kong, the Hang Seng dipped less than 0.1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...n-stocks-mixed-after-wall-streets-losing-week

* Consumer Goods Firms Lead US Stocks Slightly Higher *
*The major U.S. stock indexes capped a day of mostly subdued trading with slight gains Monday.*

By ALEX VEIGA, AP Business Writer

The major U.S. stock indexes capped a day of mostly subdued trading with slight gains Monday.

Consumer and household goods companies led the market higher, offsetting losses by industrial and energy stocks.

A batch of corporate deal news also helped put investors in a buying mood. Mattel soared nearly 21 percent on a report that Hasbro offered to buy the rival toymaker.

General Electric slumped about 7 percent after cutting its dividend and releasing a weak forecast for next year.

The Standard & Poor's 500 index rose 2.54 points, or 0.1 percent, to 2,584.84. The Dow Jones industrial average gained 17.49 points, or 0.1 percent, to 23,439.70. The Nasdaq composite added 6.66 points, or 0.1 percent, to 6,757.60.

The Russell 2000 index of smaller-company stocks dipped 0.21 points, or 0.01 percent, to 1,475.07. More stocks fell than rose on the New York Stock Exchange.

Bond prices were little changed. The yield on the 10-year Treasury note held at 2.40 percent.

The gains in consumer stocks and utilities, which also rose, suggest that investors were looking for yield, said Lindsey Bell, investment strategist at CFRA Research.

"They're maybe showing a little bit of skepticism in the bull market that's more than eight years old," she said. "Maybe they're feeling a little bit squeamish after last week."

The stock market snapped an eight-week string of gains last week.

The major stock indexes opened lower on Monday and then wavered between small gains and losses. By midmorning they had inched back up into positive territory, hovering just above their Friday closing levels for the rest of the day.

Consumer and household goods companies were among the big gainers Monday. J. M. Smucker rose $2.37, or 2.3 percent, to $106.49.

While trading was mostly subdued, investors bid up shares in companies at the center of merger-related news.

Toymaker Mattel soared 20.7 percent following a report that rival Hasbro made an offer to buy the company. Mattel was the biggest gainer in the S&P 500, climbing $3.02 to $17.64. Hasbro added $5.39, or 5.9 percent, to $96.84.

Mall owner GGP jumped 8.3 percent after Brookfield Property Partners offered to buy the rest of the company for $14 billion, or $23 a share. Shares in GGP rose $1.85 to $24.05.

Traders also sent shares in Qualcomm 3 percent higher after the company rejected an unsolicited takeover offer from Broadcom worth $103 billion, or $70 a share. Qualcomm said the proposal was significantly undervalued and that a tie-up between the massive chipmakers would face substantial regulatory resistance. Shares in Qualcomm added $1.92 to $66.49. Broadcom rose 5 cents to $265.01.

Some corporate deals failed to put investors in a buying mood.

WisdomTree Investments fell 5.5 percent after the asset management company said it will pay $611 million to buy a European division of ETF Securities. Shares in WisdomTree shed 66 cents to $11.28.

General Electric tumbled 7.2 percent after the company said it would slash its dividend in half to 12 cents per share, starting next month. The company also released annual profit projections that were well below what Wall Street had been expecting.

Chairman and CEO John Flannery, speaking to investors gathered in Boston, said the cost-cutting maneuver was part of the measures GE will undertake to make the company simpler and stronger. The stock was the biggest decliner in the S&P 500, losing $1.47 to $19.02. GE is down just under 40 percent this year.

The slide in GE weighed on the industrials sector. GE accounts for about 8 percent of the sector's market capitalization.

Traders also had their eye on the latest company earnings Monday.

Tyson Foods rose 2 percent after the meat producer posted a larger profit and greater sales than analysts had expected. The stock added $1.45 to $75.59.

Energy futures closed mostly lower.

Benchmark U.S. crude rose 2 cents to settle at $56.76 per barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, slipped 36 cents to close at $63.16 a barrel in London.

In other energy trading, wholesale gasoline gave up 2 cents to $1.79 a gallon. Heating oil was little changed at $1.93 a gallon. Natural gas fell 5 cents to $3.17 per 1,000 cubic feet.

Stocks in the S&P 500's energy sector declined the most. Newfield Exploration slid $1.22, or 3.7 percent, to $32.09.

Gold rose $4.70 to $1,278.90 an ounce. Silver added 18 cents to $16.05 an ounce. Copper gained 4 cents to $3.12 a pound.

The dollar rose to 113.57 yen from 113.54 yen on Friday. The euro strengthened to $1.1667 from $1.1618. The pound slid to $1.3114 from $1.3126 as investors worried that British Prime Minister Theresa May is facing a rebellion within her own party over the handling of the Brexit talks.

Major stock indexes in Europe closed lower. Germany's DAX shed 0.4 percent, while France's CAC 40 fell 0.7 percent. London's FTSE 100 slid 0.2 percent.

Earlier in Asia, Tokyo's Nikkei 225 fell 1.3 percent, while Hong Kong's Hang Seng gained 0.2 percent. Seoul's Kospi slid 0.5 percent. Sydney's S&P-ASX 200 fell 0.1 percent. India's Sensex lost 0.4 percent. Benchmarks in New Zealand and Jakarta rose, while Taiwan and Singapore declined.


----------



## bigdog

https://finance.yahoo.com/news/us-stocks-decline-early-trading-151758285.html

*Energy leads modest slide in US stocks as oil prices fall*




Alex Veiga, AP Business Writer

Energy companies led U.S. stocks modestly lower Tuesday, erasing the small gains the market made a day earlier.

The biggest drop in crude oil prices since October weighed on oil producers and other energy stocks. Disappointing results or outlooks from retailers and other companies also weighed on the market.

Utilities and consumer-focused companies like packaged food and beverage makers, restaurant chains, bucked the trend.

Investors had their eye on Washington D.C., where the House is expected to vote on its version of a major tax bill this week. Expectations that the tax overhaul will sharply lower corporate taxes have helped lift the market higher this year.

"We're through earnings season, which was pretty good, with earnings up about 10 percent," said Stuart Freeman, co-head of global equity strategy for Wells Fargo Investment Institute. "Now investors are waiting and watching to see what shape this tax reduction bill is going to take."

The Standard & Poor's 500 index fell 5.97 points, or 0.2 percent, to 2,578.87. The Dow Jones industrial average lost 30.23 points, or 0.1 percent, to 23,409.47. The Nasdaq composite slid 19.72 points, or 0.3 percent, to 6,737.87. The Russell 2000 index of smaller-company stocks gave up 3.81 points, or 0.3 percent, to 1,471.26.

The steep drop in crude oil prices weighed on oil exploration companies and other energy sector stocks.

Newfield Exploration was the biggest decliner in the S&P 500, tumbling $2.27, or 7.1 percent, to $29.82. Range Resources lost $1.23, or 6.6 percent, to $17.35.

Benchmark U.S. crude fell $1.06, or 1.9 percent, to settle at $55.70 per barrel on the New York Mercantile Exchange. That's the biggest single-day decline since October. Brent crude, used to price international oils, declined 95 cents, or 1.5 percent, to close at $62.21 a barrel in London.

"There's this perception that there's a lot of supply waiting in the wings and as prices have moved higher that's made the marginal producer want to come out and just find more oil," said Eric Freedman, chief investment officer of U.S. Bank Wealth Management.

The market's spotlight is on retailers this week, with many of the companies reporting quarterly results over the next few days, including Target Corp., Wal-Mart Stores and Best Buy.

On Tuesday, Home Depot turned in better-than-expected results and raised its outlook for the year. Shares in the home-improvement retailer rose $2.71, or 1.6 percent, to $168.06.

Advance Auto Parts vaulted 16.3 percent after the company's latest quarterly earnings exceeded Wall Street's expectations. The stock was the biggest gainer in the S&P 500, climbing $13.44 to $95.72.

Other big retailers failed to impress traders.

TJX Cos., the parent company of T.J. Maxx and Marshalls, fell 4 percent after it reported revenue and earnings that missed analysts' estimates. Its shares lost $2.82 to $67.94.

Dick's Sporting Goods slid 2.8 percent after the retailer reported a solid quarter but also said its earnings per share could drop as much as 20 percent next year. The stock gave up 73 cents to $25.59.

General Electric was among the market's big movers, sliding sharply for the second straight day after analysts downgraded the industrial conglomerate. On Monday, GE pulled back on profit expectations and slashed its dividend in half. The stock tumbled $1.12, or 5.9 percent, to $17.90 Tuesday. It's now down 43.4 percent this year.

Investors bid up shares in Buffalo Wild Wings following a report that Roark Capital has offered to buy the company for $150 a share, or $2.3 billion. Shares in the restaurant chain soared $28.10, or 24 percent, to $145.35.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.38 percent from 2.41 percent late Monday.

In other energy futures trading, wholesale gasoline gave up 3 cents to $1.76 a gallon. Heating oil fell 3 cents to $1.91 a gallon. Natural gas slid 7 cents to $3.10 per 1,000 cubic feet.

Gold rose $4 to $1,282.90 an ounce. Silver added 3 cents to $17.07 an ounce. Copper fell 5 cents to $3.07 a pound.

The dollar fell to 113.40 yen from 113.57 yen on Monday. The euro strengthened to $1.1794 from $1.1667.

Major stock indexes in Europe closed lower or flat. Germany's DAX fell 0.3 percent, while France's CAC 40 shed 0.5 percent. Britain's FTSE 100 was little changed.

Earlier in Asia, Japan's Nikkei 225 stock index finished flat. Hong Kong's Hang Seng index slipped 0.1 percent. Australia's S&P/ASX 200 fell 0.9 percent. South Korea's Kospi edged down 0.2 percent. Shares in Taiwan and Southeast Asia were mostly higher.


----------



## bigdog

https://www.usnews.com/news/busines...ares-fall-tracking-wall-st-drop-in-oil-prices

* US Stocks Decline for a Second Straight Day; Oil Falls *
*Technology companies led U.S. stocks lower Wednesday, giving the market its biggest loss since early September.*

By ALEX VEIGA, AP Business Writer

Technology companies led U.S. stocks lower Wednesday, giving the market its biggest loss since early September.

Grocery stores and packaged foods and beverage companies also accounted for much of the decline. Energy stocks fell as the price of crude oil closed lower a day after its biggest loss since October. Banks and phone companies eked out modest gains.

The latest slide extended the market's losses from a day earlier and added to its pullback in November.

Unlike October's broad market rally, fewer stocks and sectors have been notching gains this month, and the latest market decline reflects that, noted Bruce Bittles, chief investment strategist at Baird.

"And that's exemplary of a market that's losing momentum, and that's the real story here," Bittles said. "It means the market is struggling here, and it could mean that a lot of the good news on the economy, earnings and even the potential for a tax-reform bill are to a great extent already built into current prices."

The Standard & Poor's 500 index fell 14.25 points, or 0.6 percent, to 2,564.62. The Dow Jones industrial average lost 138.19 points, or 0.6 percent, to 23,271.28. The Nasdaq composite slid 31.66 points, or 0.5 percent, to 6,706.21. The Russell 2000 index of smaller-company stocks gave up 7.16 points, or 0.5 percent, to 1,464.09.

The major indexes are all in the red for the month, but still near their most recent record highs.

Stocks were headed lower from the get-go on Wednesday as investors weighed a batch of new government data on inflation, retail sales and manufacturing.

The Commerce Department said retail sales rose 0.2 percent in October, while a closely watched report by the Federal Reserve Bank of New York showed manufacturing expanded at a slower pace this month in New York, but remained at a healthy level. In addition, the Labor Department said consumer prices edged up 0.1 percent last month, the smallest gain in three months. That followed a report earlier this week showing that prices at the wholesale level spiked last month.


"The inflation data that was released this week are basically giving a green light to the Fed to raise rates," said Quincy Krosby, chief market strategist at Prudential Financial.

Investors were keeping an eye on Washington, where Senate Republicans began pushing their version of a major tax overhaul that would slash corporate taxes.

But the Senate measure was complicated by the last-minute inclusion of a repeal of the section of the Affordable Care Act that requires Americans to get insurance coverage. The legislative push also appeared to hit a snag Wednesday, when Sen. Ron Johnson of Wisconsin said he opposes the GOP tax bill, saying it helps corporations more than other businesses.

Expectations of a big business tax cut have helped lift the market higher this year.

The uncertainty over the fate and timing of the tax bill contributed to growing market unease.

The VIX index, which tracks expected price swings in the S&P 500, jumped 13 percent Wednesday, a three-month high. The index closed at a record low as recently as Nov. 3.

A sell-off in high-yield bonds may be another potential red flag for the market. An exchange-traded fund that tracks high-yield bonds, the SPDR Bloomberg Barclays High Yield Bond ETF, has declined 2.2 percent since Oct. 24 and is at its lowest level since March.

"That would suggest, as opposed to the economy steaming ahead, that some folks are looking for the economy maybe to slow next year," said Bittles.


Technology sector stocks, which have done far better than the rest of the market this year, took some of the biggest losses Wednesday. Chipmaker Nvidia lost $4.20, or 2 percent, to $209.98. Macom Solutions Technology Holdings slumped 18 percent after the chipmaker's latest quarterly results fell short of Wall Street's expectations. The stock gave up $6.59 to $30.02.

Companies that make consumer products also were big decliners. General Mills slid $1.59, or 2.9 percent, to $52.53.

Target slumped 9.9 percent after the retailer issued a weak profit forecast for the quarter including the holiday season. The stock was the biggest decliner in the S&P 500, tumbling $5.93 to $54.16.

IBM fell 1.2 percent after Warren Buffett's Berkshire Hathaway disclosed that it sold another chunk of the technology company's stock. IBM declined $1.79 to $147.10.

Investors bid up shares in banks and other financial companies. Bank of America climbed 55 cents, or 2.1 percent, to $26.79.

Crude oil prices pared some of their early losses, but still finished lower.

Benchmark U.S. crude fell 37 cents, or 0.7 percent, to settle at $55.33 per barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, lost 34 cents, or 0.5 percent, to close at $61.87 a barrel in London.

A report from the International Energy Agency pointing to strong production growth in the years ahead, particularly in the U.S., has weighed on oil prices this week. That's pulled down energy stocks, such as Halliburton. The stock dropped $1.25, or 2.9 percent, to $41.69.

In other energy futures trading, wholesale gasoline gave up 2 cents to $1.74 a gallon. Heating oil was little changed at $1.91 a gallon. Natural gas declined 2 cents to $3.08 per 1,000 cubic feet.


Gold fell $5.20 to $1,277.70 an ounce. Silver slid 10 cents to $16.97 an ounce. Copper shed 1 cent to $3.06 a pound.

The dollar fell to 112.89 yen from 113.40 yen on Tuesday. The euro was unchanged at $1.1794.

Major stock indexes in Europe also closed lower. Germany's DAX fell 0.4 percent, while the CAC 40 in France slid 0.3 percent. The FTSE 100 index of leading British shares was 0.6 percent lower.

Earlier in Asia, Tokyo's Nikkei 225 index tumbled 1.6 percent as manufacturers' shares were stung by a stronger yen. Hong Kong's Hang Seng lost 1.0 percent, while Australia's S&P ASX 200 fell 0.6 percent. The Kospi of South Korea declined 0.3 percent.


----------



## bigdog

https://www.usnews.com/news/busines...n-leads-asian-shares-higher-oil-prices-steady

* Strong Earnings From Wal-Mart, Cisco Drive US Stocks Higher *

By ALEX VEIGA, AP Business Writer

U.S. stocks closed sharply higher Thursday, snapping a two-day losing streak.

Investors cheered strong quarterly earnings from Wal-Mart Stores, Cisco Systems and other companies. Technology stocks accounted for much of the market's gains, which helped lift the Nasdaq composite to its first record high in just over a week.

Health care companies and consumer product makers also posted solid gains. Energy and utilities stocks lagged. Oil prices declined.

The rally knocked the major stock indexes into positive territory for the month, as investors seized on the encouraging company earnings news to buy shares a day after the market suffered its worst decline in two months.

"Investors have been looking to buy on weakness and they got a little bit of it," said Erik Davidson, chief investment officer for Wells Fargo Private Bank. "The desire to buy in dips has been very, very strong and we've seen a little bit of a dip."

The Standard & Poor's 500 index rose 21.02 points, or 0.8 percent, to 2,585.64. The Dow Jones industrial average gained 187.08 points, or 0.8 percent, to 23,458.36. The Nasdaq added 87.08 points, or 1.3 percent, to 6,793.29. The Russell 2000 index of smaller-company stocks picked up 22.79 points, or 1.6 percent, to 1,486.88.

The major stock indexes were poised to rebound from the start of trading Thursday following solid gains in markets in Europe and Asia. Investors shrugged off the prior day's doldrums and welcomed latest batch of strong corporate earnings or outlooks.

Data storage company NetApp vaulted 15.9 percent as investors applauded its quarterly results and forecasts. The stock was the biggest gainer in the S&P 500 and one of the reasons technology stocks posted some of the biggest gains. Its shares rose $7.29 to $53.11.

Cisco Systems also delivered a bigger profit than analysts expected. The internet gear maker also said revenue should grow in the current quarter after two years of declines. Cisco shares climbed 5.2 percent, its biggest gain since February 2016. The stock added $1.77 to $35.88.

Wal-Mart also got a big boost, climbing 10.9 percent, its biggest gain since October 2008. In addition to posting strong third-quarter results, the retail giant raised its annual profit outlook. The stock rose $9.79 to $99.62.

A forecast for better full-year sales helped lift J.M. Smucker 9.5 percent. The food company's shares gained $10.14 to $116.65.

"We've had very good earnings from Amazon, Google, Nvidia, Tencent, just to name a few," said Tom Martin, senior portfolio manager with Globalt Investments. "Even with Wal-Mart you're seeing a very strong reaction to the positives that are going on there."

The quarterly report card from some companies failed to put traders in a buying mood.

Best Buy fell 3.6 percent after the electronics retailer's latest quarterly results and forecast for the holiday season fell short of estimates. The stock slid $2.05 to $55.25.

Apart from earnings, investors had their eye on developments in Washington, where the House voted to pass a near $1.5 trillion package overhauling corporate and personal taxes.

The focus now moves to the Senate, where lawmakers were working on a different version of a tax reform bill. Both the House and Senate versions of the legislation would slash the 35 percent corporate tax rate to 20 percent and reduce some personal taxpayers' rates.

Expectations of a big business tax cut have helped lift the market higher this year, though the Thursday afternoon House vote didn't move the market's much.

"To have a bit of positive news on tax reform is helpful, but there's still a long way to go with that," Martin said.

Traders bid up shares in Procter & Gamble after activist investor Nelson Peltz said an independent count showed he won election to the consumer products company's board. The stock added $1.02, or 1.2 percent, to $89.25.

Time soared 28.1 percent after The New York Times reported that Meredith Corp. will make another offer for the publisher. Time gained $3.55 to $16.20.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.37 percent from 2.32 percent late Wednesday.

Energy prices declined. Benchmark U.S. crude slipped 19 cents to settle at $55.14 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, slid 51 cents to $61.36 a barrel in London.

Wholesale gasoline gave up 3 cents to $1.71 a gallon. Heating oil dipped a penny to $1.90 a gallon. Natural gas declined 3 cents to $3.05 per 1,000 cubic feet.

Gold edged up 50 cents to $1,278.20 an ounce. Silver added 10 cents to $17.07 an ounce. Copper shed 1 cent to $3.05 a pound.

The dollar strengthened to 112.98 yen from 112.89 yen on Wednesday. The euro weakened to $1.1765 from $1.1794.

Major stock indexes in Europe also notched gains Thursday. Germany's DAX rose 0.5 percent, while France's CAC 40 added 0.7 percent. Britain's FTSE 100 picked up 0.2 percent.

Earlier in Asia, Japan led the region higher as its benchmark Nikkei 225 snapped a six-day losing streak and jumped 1.5 percent. South Korea's Kospi added 0.7 percent. Hong Kong's Hang Seng index gained 0.6 percent. Australia's S&P/ASX 200 rose 0.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines...res-mostly-higher-on-us-earnings-tax-progress

* Retailers Rise Again, but Tech Leads Other US Stocks Lower *
*US stock indexes finish lower as technology companies return some of the previous day's gains.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Retailers and smaller U.S. companies jumped again Friday as they continued to report strong third-quarter results, but technology companies and other big U.S. corporations couldn't add to the previous day's gains.

A slew of retailers including discount chain Ross Stores, shoe store Foot Locker and clothing companies Gap and Abercrombie & Fitch soared following strong results or forecasts. Wal-Mart helped kick off a retail rally a day ago. Technology, health care and industrial companies slumped. On Thursday they led stocks to their biggest gain in two months.

Investors have liked what they've seen from retailers the last two days. Invesco Global Market Strategist Kristina Hooper said the companies are giving a double dose of good news. Consumers are spending more, and there are signs some companies are figuring out how to survive in a world where more and more sales are made online.

"Businesses are starting to evolve and alter their models and may be able to survive quite well in very changed circumstances," she said. "This is only the beginning of what they're going to need to do to stay competitive."

The Standard & Poor's 500 index fell 6.79 points, or 0.3 percent, to 2,578.85. The Dow Jones industrial average gave up 100.12 points, or 0.4 percent, to 23,358.24. The Nasdaq composite dipped 10.50 points, or 0.2 percent, to 6,782.79 after it closed at a record high Thursday.

The Russell 2000 index of smaller and more U.S.-focused stocks climbed 5.94 points, or 0.4 percent, to 1,492.82. Most of the companies on the New York Stock Exchange rose.

The S&P 500 finished slightly lower for the second week in a row after an eight-week winning streak.

Ross Stores jumped $6.56, or 10 percent, to $72.25 after its profit and sales were greater than expected, and the company raised its forecast for the rest of the year. The discount retailer said its business remained strong even though it dealt with the effects of several major hurricanes. Gap, too, did better than expected as sales at Old Navy and Athleta improved and it cut spending. Its stock gained $1.92, or 7 percent, to $29.40.

Foot Locker had a solid quarter and said that in spite of steep discounts, it expects to meet or "modestly exceed" its annual profit and sales forecasts. It surged $8.97, or 28.2 percent, to $40.82. Hibbett Sports raised its profit forecast and expects a smaller decline in an important sales measurement. Its stock climbed $2.25, or 15.2 percent, to $17.10. Foot Locker has fallen 42 percent this year and Hibbett has dropped 54 percent.

Twenty-First Century Fox continued to soar on growing speculation that some of the media company's assets will be sold. Comcast is in talks to buy Twenty-First Century Fox's movie studio, some of its cable channels, and its international business. The Wall Street Journal and CNBC first reported Comcast's interest. The Journal reported that Verizon and Sony are also interested in some of Fox's assets.

Reports last week said Disney recently discussed a deal with Fox for the same businesses Comcast is now interested in. Fox is up 25 percent in two weeks after it gained $1.83, or 6.2 percent, to $31.15. Comcast fell 91 cents, or 2.5 percent, to $36.16. Verizon picked up 65 cents, or 1.5 percent, to $45.42.

Electronic Arts stock dropped after the video game company announced a last-minute change to "Star Wars Battlefront II" right before its Friday launch. EA turned off in-game purchases after fans complained about the cost of a feature that allowed players to skip ahead in the game to parts that include famous characters such as Luke Skywalker and Darth Vader. Earlier this week the company reduced the payments, but that didn't quiet the uproar.

The stock fell $2.78, or 2.5 percent, to $108.92 and it's down 9 percent this month.

Other technology companies also struggled. Microsoft lost 80 cents, or 1 percent, to $82.40 and Intel slipped $1.02, or 2.2 percent, to $44.63.

Gold and oil prices jumped as the dollar weakened to its lowest level in almost a month. Benchmark U.S. crude rose $1.41, or 2.6 percent, to $56.55 a barrel in New York. Brent crude, used to price international oils, gained $1.36, or 2.2 percent, to $62.72 a barrel in London.

Gold rose $18.30, or 1.4 percent, to $1,296.50 an ounce. Silver climbed 30 cents, or 1.8 percent, to $17.37 an ounce. Copper rose 2 cents to $3.07 a pound.

The dollar fell to 112.13 yen from 112.98 yen. The euro rose to $1.1796 from $1.1765.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.34 percent from 2.38 percent.

In other energy trading, wholesale gasoline rose 3 cents to $1.74 a gallon. Heating oil gained 4 cents to $1.95 a gallon. Natural gas climbed 4 cents to $3.10 per 1,000 cubic feet.

France's CAC 40 shed 0.3 percent and Germany's DAX slid 0.4 percent. The British FTSE 100 slipped 0.1 percent. Japan's benchmark Nikkei 225 rose 0.2 percent and South Korea's Kospi ended was little changed. Hong Kong's Hang Seng index gained 0.6 percent.

5768


----------



## bigdog

https://www.usnews.com/news/busines...-waver-in-muted-trading-ahead-of-thanksgiving

* Technology Companies, Retailers Send US Stock Indexes Higher *
*Technology companies and retailers take US stocks slightly higher on Wall Street.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks rose Monday as a mix of smaller, U.S.-focused companies, technology firms and banks climbed. Drugmakers struggled, which limited those gains.

Retailers and smaller companies rose for the third day in a row as their latest quarterly reports have investors feeling better about the U.S. economy and the amount of shopping people are likely to do over the holidays. Technology companies rose following another deal between chipmakers, and industrial companies also posted gains.

Companies that sell opioid pain medications tumbled after the government released a new, much higher estimate of the costs of the ongoing addiction crisis. Merck fell after a good report from competitor Roche about a drug that competes with Merck's cancer medication Keytruda.

Trading was relatively light. That's probably going to be the case throughout the week as the Thanksgiving holiday approaches and investors turn their attention to 2018. Jeff Kravetz, regional investment strategist for U.S. Bank Private Wealth Management, expects more gains for U.S. stocks, but thinks indexes in other parts of the world will do better, as they've done this year.

"We've got developed markets working and we've got emerging markets working," he said. "This is just a wonderful year for international markets after a bit of a drought."

The Standard & Poor's 500 index picked up 3.29 points, or 0.1 percent, to 2,582.14. The Dow Jones industrial average gained 72.09 points, or 0.3 percent, to 23,430.33. The Nasdaq composite advanced 7.92 points, or 0.1 percent, to 6,790.71. The Russell 2000 index of smaller-company stocks climbed 10.57 points, or 0.7 percent, to 1,503.40.

Chipmaker Marvell Technology Group said it will buy competitor Cavium for $6 billion. Cavium jumped $8.19, or 10.8 percent, to $84.02 and it's up 22 percent over the last two weeks on reports Marvell would make a bid. Marvell rose $1.30, or 6.4 percent, to $21.59.

Other technology companies also rose. IBM added $1.54, or 1 percent, to $150.51 and Cisco Systems gained 60 cents, or 1.7 percent, to $36.50.

A White House group said the opioid drug epidemic cost the U.S. $504 billion in 2016, far larger than other recent estimates, and companies that make those pain medications traded sharply lower.

Last year a separate estimate said the crisis cost the country $78.5 billion in 2013, including lost productivity and health care and criminal justice spending. The Council of Economic Advisers said the new figure reflects the worsening crisis and that earlier figures didn't calculate deaths or include the use of illegal drugs.

Allergan gave up $3.76, or 2.2 percent, to $171.12 and Teva Pharmaceutical Industries fell 76 cents, or 5.5 percent, to $13.08. Insys Therapeutics shed 17 cents, or 3.2 percent, to $5.20. Executives including Insys' founder and its former CEO have been charged with offering kickbacks to doctors to get them to prescribe its fentanyl spray Subsys. Its stock traded above $40 in mid-2015.

Merck stumbled after Genentech, a unit of Swiss drugmaker Roche, reported positive results from a study of its drug Tecentriq as a primary treatment for lung cancer. Genentech said patients who were given Tecentriq as part of their treatment regimen were less likely to die or see their cancer get worse.

The results could affect sales of Merck's drug Keytruda and Bristol-Myers Squibb's Opdivo. Merck fell $1.10, or 2 percent, to $54.10 and Bristol-Myers Squibb lost 52 cents to $60.80.

The Department of Justice plans to file a lawsuit to stop AT&T from buying Time Warner. Shares of Time Warner have stumbled over the last two weeks as investors anticipated that regulators might try to block the deal. The $85 billion deal would give AT&T the Warner Bros. movie studio and cable networks including HBO and CNN.

Time Warner lost $1.01, or 1.1 percent, to $87.71 and AT&T added 13 cents to $34.64.

Benchmark U.S. crude fell 46 cents to $56.09 a barrel in New York. Brent crude, which is used to price international oils, dropped 50 cents to $62.22 a barrel in London.

Wholesale gasoline remained at $1.74 a gallon. Heating oil lost 1 cent to $1.93 a gallon. Natural gas slipped 5 cents to $3.05 per 1,000 cubic feet.

The dollar rose to 112.67 yen from 112.13 yen late Friday. The euro slipped to $1.1732 from $1.1796 after a group of German political parties couldn't agree to form a government, which might mean new elections are on the way.

A weaker euro is good for companies that export a lot of products, and the German DAX was up 0.7 percent while France's CAC 40 rose 0.5 percent. The FTSE 100 in Britain added 0.2 percent. In Japan, the Nikkei 225 index lost 0.6 percent and South Korea's Kospi shed 0.3 percent. Hong Kong's Hang Seng index added 0.2 percent.

Gold slumped $21.20, or 1.6 percent, to $1,275.30 an ounce. Silver sank 53 cents, or 3.1 percent, to $16.84 an ounce. Copper gained 3 cents to $3.09 a pound.

Bond prices edged lower. The yield on the 10-year Treasury note rose to 2.36 percent from 2.35 percent.


----------



## bigdog

https://www.usnews.com/news/busines...-shares-advance-as-wall-street-regains-ground

* Led by Technology and Health Care, Stocks Set More Records *
*US stocks jump to all-time highs as Apple and Facebook lead a rally in technology companies while health care companies like medical device maker Medtronic also rise.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — The market's biggest winners this year, technology and health care, powered U.S. stock indexes to more all-time highs on Tuesday.

Huge technology companies like Apple and Facebook continued their ascent, while strong reports from companies including medical device maker Medtronic and construction and technical services company Jacobs Engineering helped health care and industrial companies, respectively.

Basic materials companies, which have done better than the rest of the Standard & Poor's 500 index, also rose. Telecommunications companies declined, while energy companies and banks didn't do as well as the rest of the market.

Apple, Facebook, Alphabet, Microsoft and Amazon, the five most valuable companies on the stock market, all rose more than 1 percent, and they've all had a very strong year. JJ Kinahan, chief market strategist at TD Ameritrade, said that's not about to stop.

"They're seeing better earnings, better sales, better growth," he said. "It's difficult to argue with that."

The S&P 500 index climbed 16.89 points, or 0.7 percent, to 2,599.03. The Dow Jones industrial average gained 160.50 points, or 0.7 percent, to 23,590.83. The Nasdaq composite added 71.76 points, or 1.1 percent, to 6,862.48.

The Russell 2000 index of smaller-company stocks rose for a fourth day and picked up 15.49 points, or 1 percent, to 1,518.89. All four indexes set records. The Russell had struggled in recent weeks, but on Tuesday it beat its record close from early October.

Big-name technology companies lead the way overall. Apple rose $3.16, or 1.9 percent, to $173.14 and Facebook added $3.12, or 1.7 percent, to $181.86. Health care companies climbed as well. Those two sectors are the best-performing parts of the market this year.


Homebuilders climbed after the National Association of Realtors said sales of homes grew in October. They're down slightly from last year because there are so few houses on the market, but the tight supply and rising prices have sent homebuilder stocks soaring this year. On Tuesday, NVR advanced $59.69, or 1.8 percent, to $3,377, while D.R. Horton gained $1.15, or 2.4 percent, to $49.35.

Along with those reports, investors were cheered by projections from Goldman Sachs analyst David Kostin, who forecast that the S&P 500 will rise 14 percent in 2018 if corporate taxes are cut. Kostin, who didn't think stocks would rise that much this year, now says the bull market could last three more years, with continued economic growth and lower taxes taking the S&P 500 to 3,100 by the end of 2020.

Kinahan, of TD Ameritrade, said the potential tax cuts might help stocks in another way: usually, investors might sell some of their holdings after a better-than-expected year like this one. But right now, they're not sure what their taxes will look like in 2018.

"People may not be taking profits as aggressively at the end of this year as they would in a normal year because they're not sure where the tax plan will come out," he said.

Medtronic jumped after it posted profit that was larger than analysts had expected. The company said sales of heart devices including newer devices like its CoreValve Evolut Pro heart valve, drove its sales higher in the fiscal second quarter. The stock rose $3.76, or 4.8 percent, to $82.66.

Signet Jewelers plunged $23.05, or 30.4 percent, to $52.79 after the company slashed its annual forecast. The company recently sold its highest-quality loans to Alliance Data Systems, but the company said "disruptions" related to that move have affected sales, especially for its Kay brand.


Alliance Data Systems fell 83 cents to $223.84. Aaron's, which is running a lease-payment program for other Signet customers, fell 54 cents, or 1.5 percent, to $36.20.

Campbell Soup's profit and sales both fell a bit short of analysts' forecasts. The company reported a 9 percent drop in soup revenue and said carrot costs increased. It also faced greater logistics costs in the aftermath of the hurricanes. The stock shed $4.09, or 8.2 percent, to $45.84.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.36 percent from 2.37 percent.

Benchmark U.S. crude oil rose 41 cents to $56.84 a barrel in New York, while Brent crude, the international standard, added 35 cents to $62.57 a barrel in London.

Wholesale gasoline climbed 3 cents to $1.77 a gallon. Heating oil was little changed at $1.94 a gallon. Natural gas slipped 3 cents to $3.02 per 1,000 cubic feet.

Gold rose $6.40 to $1,281.70 an ounce. Silver added 12 cents to $16.96 an ounce. Both metals had taken sharp losses Monday. Copper rose 4 cents to $3.13 a pound.

The dollar slipped to 112.44 yen from 112.67 yen. The euro rose to $1.1742 from $1.1732.

Germany's DAX gained 0.8 percent and the CAC 40 of France CAC 40 rose 0.5 percent. The FTSE 100 index in Britain rose 0.3 percent. Japan's Nikkei 225 rose 0.7 percent while the Kospi in South Korea added 0.1 percent. The Hang Seng in Hong Kong rose 1.9 percent, its biggest gain in two months.


----------



## bigdog

https://www.usnews.com/news/busines.../asian-stocks-advance-after-wall-street-gains

*U.S. markets will be closed Thursday for the Thanksgiving holiday. They will reopen Friday but will close at 1 p.m. ET.*

* US Stocks Mostly Slip Away From Their Latest Record Highs *
*U.S. stocks mostly slip away from their latest record highs as technology companies and banks slide.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks mostly slipped away from their latest record highs Wednesday as the two former halves of Hewlett-Packard both tumbled, while falling interest rates helped phone companies but hurt banks.

The price of oil jumped on reports OPEC and a group of other countries might extend the cuts in production they made at the start of this year. That took energy companies higher. Hewlett Packard Enterprise sank after it said CEO Meg Whitman will retire, while printer and PC maker HP lost ground after its latest quarterly report.

Interest rates fell after the Federal Reserve released minutes from its latest meeting, which ended Nov. 1. While most officials were comfortable raising interest rates soon, as investors think they will do in December, a few Fed leaders wanted to wait until there is more evidence inflation is rising. The Fed has suggested it wants to raise rates three more times next year.

"The market certainly doesn't believe it, and hasn't believed it all along," says Scott Wren, senior global equity strategist for Wells Fargo Investment Institute. He said investors may change their minds as economic reports roll in over the next few weeks, and they may get nervous if they think the Fed will move faster.

The Standard & Poor's 500 index dipped 1.95 points, or 0.1 percent, to 2,597.08. The Dow Jones industrial average slid 64.65 points, or 0.3 percent, to 23,526.18. The Nasdaq composite rose 4.88 points, or 0.1 percent, to a record 6,867.36. The Russell 2000 index of smaller-company stocks lost 2.13 points, or 0.1 percent, to 1,516.76.

All four indexes closed at record highs Tuesday, and on Wednesday most of the companies on the New York Stock Exchange finished higher.


U.S. markets will be closed Thursday for the Thanksgiving holiday. They will reopen Friday but will close at 1 p.m. ET.

The two main companies that once comprised Hewlett-Packard took the largest losses in the S&P 500. Hewlett Packard Enterprise, which sells data-center hardware and tech gear, dropped after it announced company President Antonio Neri will replace Whitman as CEO Feb 1. Whitman became CEO of Hewlett-Packard in 2011 and oversaw its split in 2015. HPE also reported mixed fourth-quarter results.

Analysts said they were surprised by the timing because Whitman suggested last month that she wasn't leaving soon. Like several other analysts, Steven Milunovich of UBS said Neri is a good choice, but that Whitman will be hard to replace.

"Whitman's star power could be missed when competing with the likes of Michael Dell, Chuck Robbins, and Ginni Rometty for large enterprise deals," he said, referring to the CEOs of Dell, Cisco Systems and IBM.

HP Enterprise fell $1.02, or 7.2 percent, to $13.10. Meanwhile HP Inc., which sells PCs and printers, had a solid quarter but couldn't sustain the gains it's made this year. The stock lost $1.12, or 5 percent, to $21.34. It's up 44 percent in 2017.

Bond prices started the day with small gains, which sent yields lower. Yields moved lower still as investors looked over the Federal Reserve minutes. The Fed has already raised interest rates twice this year in spite of low inflation, and Wren, of Wells Fargo, said investors may get jumpy as they examine economic data in the next few weeks and try to figure out how fast the Fed will move next year.

The yield on the 10-year Treasury note fell to 2.32 percent from 2.36 percent. That sent banks lower because lower yields translate to smaller profits on loans. Cincinnati Financial fell 80 cents, or 1.1 percent, to $72.66. Phone companies, which pay big dividends similar to bonds, climbed higher. Verizon Communications rose 92 cents, or 2 percent, to $47.10.


The dollar also weakened as investors expected lower interest rates. It sank to 111.17 yen from 112.44 yen. The euro rose to $1.1822 from $1.1742.

U.S. crude rose $1.19, or 2.1 percent, to $58.02 a barrel in New York. Brent crude, used to price international oils, gained 75 cents, or 1.2 percent, to $63.32 a barrel in London. Both oil benchmarks are at two-year highs.

Reuters reported that Saudi Arabia, the biggest oil exporter in the world, wants the OPEC cartel to extend this year's cut in oil production for another nine months. The nations of OPEC, as well as other major oil producers including Russia, will meet in Vienna next week to discuss their goals.

Farm equipment maker Deere posted a bigger profit and better sales than analysts expected, and it also gave surprisingly strong forecasts for its new fiscal year. The stock climbed $6.02, or 4.3 percent, to $145.25.

Gold added $10.50 to $1,292.20 an ounce. Silver rose 15 cents to $17.11 an ounce. Copper rose 1 cent to $3.14 a pound.

In other energy trading, wholesale gasoline lost 1 cent to $1.77 a gallon. Heating oil remained at $1.93 a gallon. Natural gas skidded 5 cents to $2.97 per 1,000 cubic feet.

Germany's DAX lost 1.2 percent while the FTSE 100 in London rose 0.1 percent and France's CAC 40 slipped 0.2 percent. Tokyo's Nikkei 225 gained 0.5 percent and the Hang Seng index of Hong Kong advanced 0.6 percent. The Kospi in South Korea rose 0.4 percent.


----------



## bigdog

*U.S. markets were closed Thursday for the Thanksgiving holiday. 
They will reopen Friday but will close at 1 p.m. ET. *





*Rest of Open Markets*





https://www.usnews.com/news/busines...hanghai-stocks-tumble-other-asian-stocks-clam

* China Stock Slump Weighs on Global Markets *
*European stock markets were weighed down Thursday by the earlier slump in China's main stock market to its lowest level since September. Trading levels were relatively modest though with U.S. markets closed for the Thanksgiving holiday.*

By The Associated Press

LONDON (AP) — European stock markets were weighed down Thursday by the earlier slump in China's main stock market to its lowest level since September. Trading levels were relatively modest though with U.S. markets closed for the Thanksgiving holiday.

KEEPING SCORE: In Europe, Britain's FTSE 100 fell 0.1 to 7,410 while Germany's DAX dipped 0.2 percent to 12,995. France's CAC 40 outperformed its counterparts, trading up 0.6 percent at 5,384.

CHINA SLIDE: Chinese stocks fell sharply on reports that the government is moving to rein in online lending firms. Investors also pulled back after Hong Kong's Hang Seng index hit a 10-year high Wednesday to take profits. The Shanghai Composite Index sank 2.3 percent to 3,351.92, its lowest level since September, while the Hang Seng slumped 1 percent to 29,707.94.

ANALYST TAKE: "Sentiment in China was dented by Beijing halting approvals for all new online lending companies to curb a credit bubble," said Mike van Dulken at Accendo Markets.

REST OF ASIA: Other Asian markets finished generally flat. South Korea's Kospi finished 0.1 percent lower at 2,537.15 and Australia's S&P/ASX 200 finished unchanged at 5,986.20. Stocks in Singapore and other Southeast Asian countries were mixed. Japan was closed for a holiday.

EUROZONE BOOMING: The 19-country eurozone is set for its best quarterly performance since early 2011, according to a closely watched survey Thursday, the latest sign that a robust economy has gained further momentum heading into the year's end. Financial information company IHS Markit said its purchasing managers' index — a broad gauge of business activity across the manufacturing and services sectors — rose to 57.5 points in November from 56 the previous month. Anything above 50 indicates an expansion and the index now stands at its highest level since April 2011.


FED: Minutes of the Fed's last meeting that ended Nov. 1 showed that most officials generally believe it will soon be time for another increase in the Fed's key interest rate. A few Fed leaders think rates should stay where they are until there is more evidence inflation is rising, showing the concerns the U.S. inflation rate is falling short of expectations despite the jobless rate falling to the lowest level in nearly 17 years. But the minutes did not change expectations of a December rate hike, analysts said.

OIL: The price of oil retreated after a jump on reports that key oil producers might extend the cuts in production they made at the start of this year. U.S. crude fell 20 cents to $57.82 per barrel on the New York Mercantile Exchange while Brent crude, used to price international oils, lost 31 cents to $63.01 per barrel in London.

CURRENCIES: The euro rose 0.2 percent to $1.1844 while the dollar was unchanged at 111.21 yen.


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## bigdog

*The Dow finished slightly below its record high from Tuesday*






https://www.usnews.com/news/busines...hares-mixed-china-in-focus-after-big-sell-off

* More Stock Records as Technology and Energy Companies Rise *
*US stocks rise as technology companies climb further and energy companies rise with oil prices.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks set more records in quiet post-holiday trading Friday as technology companies again did much of the heavy lifting. Energy companies rose with the price of oil.

Macy's and some of its retail counterparts rose after the department store's CEO said Black Friday sales were going well. Online titan Amazon made an even bigger gain. Oil prices and energy companies rose after Bloomberg reported that a group of key oil producers plans to extend production cuts until the end of 2018.

"If you take the cumulative effect of online and foot traffic going into the stores, it's showing you a robust consumer spending pattern," said Quincy Krosby, chief market strategist at Prudential Financial.

The Standard & Poor's 500 index rose 5.34 points, or 0.2 percent, to 2,602.42, its first close above 2,600.

The Dow Jones industrial average added 31.81 points, or 0.1 percent, to 23,557.99. The Nasdaq composite gained 21.80 points, or 0.3 percent, to 6,889.16. The Russell 2000 index of smaller companies climbed 2.40 points, or 0.2 percent, to 1,519.16.

The Dow finished slightly below its record high from Tuesday but the other major indexes closed at all-time highs. Trading ended early after the Thanksgiving holiday on Thursday.

Macy's CEO Jeffrey Gennette told CNBC holiday shopping is off to a good start with relatively few discounts and strong sales of some especially profitable products like winter clothing. Macy's gained 44 cents, or 2.1 percent, to $21.07 and other department stores climbed as well.

Experts are mostly predicting strong sales over the holiday shopping period because of increased consumer confidence and a very low unemployment rate. The National Retail Federation trade group expects sales to grow at least as fast as they did last year.


Big retailers like Wal-Mart and Urban Outfitters and Gap have also reported strong quarterly results recently. On Friday, Gap added 47 cents, or 1.6 percent, to $29.64 and electronics retailer Best Buy gained 51 cents to $57. Amazon's stock rose $29.84, or 2.6 percent, to $1,186.

Amazon, along with tech giants Apple, Facebook, Microsoft and Google's parent company Alphabet, have played a huge role in the market's gains this year. Those five companies combined are responsible for more than one-fourth of the value the S&P 500 has gained this year. Amazon and Facebook closed all-time highs Friday and the other three set record highs earlier this month.

U.S. benchmark crude rose 93 cents, or 1.6 percent, to $58.95 a barrel in New York. Krosby said the Keystone oil pipeline spill earlier this month has also pushed U.S. oil prices higher by disrupting supplies.

Brent crude, used to price international oils, added 31 cents to $63.86 a barrel in London.

Hess gained 95 cents, or 2.2 percent, to $44.40 and Marathon Oil added 25 cents, or 1.7 percent, to $15.13.

Billionaire investor Carl Icahn disclosed that he's acquired a 13.5 percent stake in SandRidge Energy. A week ago SandRidge agreed to buy oil and gas company Bonanza Creek Energy, and Icahn said he's opposed to the $736 million deal. Another major SandRidge investor, Fir Tree Partners, is also against the deal. SandRidge jumped $1.40, or 8 percent, to $18.90 while Bonanza tumbled $3.76, or 11.7 percent, to $28.38.

In other energy trading, wholesale gasoline added 2 cents to $1.79 a gallon. Heating oil rose 2 cents to $1.95 a gallon. Natural gas sank 16 cents, or 5.2 percent, to $2.81.


The dollar rose to 111.58 yen from 111.23 yen. The euro climbed to $1.1927 from $1.1853.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.34 percent from 2.32 percent late Wednesday.

Gold fell $4.90 to $1,287.30 an ounce. Silver lost 12 cents to $16.99 an ounce. Copper rose 3 cents to $3.17 a pound.

France's CAC 40 rose 0.2 percent and the DAX in Germany gained 0.4 percent. Britain's FTSE 100 slipped 0.1 percent. Japan's benchmark Nikkei 225 index rose 0.1 percent while the Hang Seng in Hong Kong rebounded 0.5 percent and South Korea's Kospi added 0.3 percent.

6100


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## bigdog

https://www.usnews.com/news/busines.../asian-shares-tumble-ahead-of-data-heavy-week

* Energy Firms Lead US Stocks Mostly Lower as Oil Prices Slip *
*A sluggish day of trading on Wall Street finished Monday with stocks edging mostly lower as investors came back from the Thanksgiving holiday.*

By ALEX VEIGA, AP Business Writer

A sluggish day of trading on Wall Street finished Monday with stocks edging mostly lower as investors came back from the Thanksgiving holiday.

Energy stocks declined the most following a slide in crude oil prices. Materials companies also declined, partly offsetting gains among utilities and industrial stocks.

Retailers posted solid gains on reports the holiday shopping season is off to a strong start.

Investors also cheered some corporate deals and looked ahead to several economic reports and potential market-moving news out of Washington this week.

"As you look at the context of this entire week, Monday is a little bit light on market-moving events, but as we proceed through the balance of this week, we have a busy economic calendar," said Bill Northey, senior vice president at U.S. Bank Wealth Management.

The Standard & Poor's 500 index slipped 1 point to 2,601.42. The Dow Jones industrial average edged up 22.79 points, or 0.1 percent, to 23,580.78. The Nasdaq composite fell 10.64 points, or 0.2 percent, to 6,878.52. The Russell 2000 index of smaller-company stocks lost 5.85 points, or 0.4 percent, to 1,513.31.

More stocks fell than rose on the New York Stock Exchange.

Bond prices rose. The yield on the 10-year Treasury fell to 2.33 from 2.34 percent late Friday.

Losses among energy stocks weighed on the market Monday as oil prices declined.

Marathon Oil lost 65 cents, or 4.3 percent, to $14.48, while Newfield Exploration gave up $1.05, or 3.4 percent, to $29.69.

Benchmark U.S. crude fell 84 cents, or 1.4 percent, to settle at $58.11 per barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, declined 2 cents to close at $63.84 in London.


Chipmakers were also among the market's big laggards, led by Western Digital. The stock was the biggest decliner in the S&P 500, sliding $6.23, or 6.7 percent, to $86.55.

Several retailers closed higher as the holiday shopping season moved into high gear. Shoppers are expected to spend $6.6 billion on Cyber Monday, up more than 16 percent from a year ago, according to Adobe Analytics, the research arm of software maker Adobe.

Newell Brands climbed $1.42, or 5 percent, to $29.79, while Amazon added $9.83, or 0.8 percent, to $1,195.83. L Brands rose $1.98, or 4.1 percent, to $50.34.

Traders also welcomed the latest news on the corporate deal front.

Time rose almost 10 percent after agreeing to be acquired by Meredith for $1.8 billion, or $18.50 a share. Meredith owns TV stations and magazines including Better Homes & Gardens.

Time surged $1.60, or 9.5 percent, to $18.50, while Meredith gained $6.55, or 10.7 percent, to $67.55.

Barracuda Networks jumped 16.5 percent after the cloud-based security company agreed to be taken private. The stock rose $3.90 to $27.59.

Firearms makers rose after requests for federal background checks for gun purchases jumped 9 percent on Black Friday from a year earlier. American Outdoor Brands, the parent of Smith & Wesson, picked up 45 cents, or 3.4 percent, to $13.73. Sturm, Ruger & Co. added $1.85, or 3.7 percent, to $51.80.

Utilities notched also gains Monday. CenterPoint Energy rose 51 cents, or 1.8 percent, to $29.54.

It's a busy week on the data front, with several manufacturing figures due at the end of the week.

Investors also will have their eye on outgoing Federal Reserve Chair Janet Yellen's remarks before Congress and a possible vote in the Senate on its version of a tax overhaul bill.


In other energy futures trading Monday, wholesale gasoline was little changed at $1.79 a gallon. Heating oil slipped 1 penny to $1.95 a gallon. Natural gas rose 12 cents, or 4.1 percent, to $2.93 per 1,000 cubic feet.

Gold rose $7.10 to $1,294.40 an ounce. Silver added 3 cents to $17.02 an ounce. Copper slid 4 cents to $3.13 a pound.

The dollar weakened to 111.01 yen from 111.58 yen. The euro fell to $1.1899 from $1.1927.

Major stock indexes in Europe closed lower. Germany's DAX fell 0.5 percent, while France's CAC 40 lost 0.6 percent. Britain's FTSE 100 slid 0.3 percent.

Earlier in Asia, Tokyo's Nikkei 225 lost 0.2 percent, while Seoul's Kospi fell 1.4 percent. Hong Kong's Hang Seng declined 0.6 percent. India's Sensex lost 0.2 percent and Sydney's S&P-ASX 200 edged up 0.1 percent.


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## bigdog

https://finance.yahoo.com/m/bea31018-eb6d-3d71-8484-a458d579f563/ss_banks-power-solid-gains-for.html

*Banks power solid gains for US stocks, more record highs*



Associated Press

Banks led a broad rally in U.S. stocks Tuesday, lifting the market to a milestone-shattering finish.

Gains by industrial stocks, retailers and health care companies also helped drive the major stock indexes to record highs.

Investors were encouraged by news that a Senate committee cleared the way for a tax reform bill to go before the full Senate. Financial stocks also got a boost from Federal Reserve chair nominee Jerome Powell, who told another Senate committee that the Fed would consider easing up on bank regulations.

Encouraging economic data and the latest batch of company earnings and deal news also helped drive the rally, which gave the Standard & Poor's 500 index its best day since Sept. 11.

"When you're in a market where you're at new highs with the averages, in theory, nobody has losses," said Mark Chaikin, founder of Chaikin Analytics. "Given seasonal patterns, I expect that we'll see the market strong into year-end."

The S&P 500 index rose 25.62 points, or 1 percent, to 2,627.04. The Dow Jones industrial average gained 255.93 points, or 1.1 percent, to 23,836.71. The Nasdaq composite added 33.84 points, or 0.5 percent, to 6,912.36. The Russell 2000 index of smaller-company stocks picked up 23.12 points, or 1.5 percent, to 1,536.43.

Gainers outnumbered decliners more than 2 to 1 on the New York Stock Exchange.

Early on, investors had their eye on Washington, where the Senate Budget Committee weighed the chamber's version of a sweeping tax bill. The committee voted 12-11 to pass the Republican tax plan late Tuesday afternoon. The sweeping measure, which would lower corporate tax rates, now advances to the full Senate. GOP leaders hope to have the Senate take it up later this week.

Another panel, the Senate Banking Committee, drew the spotlight early on as it heard testimony from Powell, who has been a member of the Fed's board since 2012 and is expected to win confirmation to succeed Janet Yellen.

In written testimony released before the start of the hearing, Powell said that, if confirmed as the next Fed chairman, he expected the central bank to continue raising interest rates gradually.

Powell also said that, under his leadership, the Fed would consider ways to ease the regulatory burdens on banks while preserving the key reforms Congress passed to try to prevent another financial crisis.

"Powell's testimony basically said that he's a Janet Yellen on steroids," said Chaikin. "His testimony gave the market a lot of confidence."

Banks and other financial stocks had their best day since March. The sector is up 15.2 percent this year.

JPMorgan Chase and Bank of America notched their gains since April. Shares in JPMorgan rose $3.43, or 3.5 percent, to $101.36. Bank of America added $1.05, or 3.9 percent, to $27.64.

Investors also got a double dose of encouraging data on the U.S. economy Tuesday.

The Conference Board said that its consumer confidence index rose this month to its highest level since November 2000. Economic growth clocked at a healthy 3 percent annual pace in the third quarter, and the unemployment rate has fallen to a 17-year low of 4.1 percent.

A separate index showed U.S. home prices rose at the fastest pace in more than three years in September, fueled by a record-low supply of homes for sale. Homebuilder shares rose, led by KB Home, which gained $1.17, or 4.1 percent, to $30.

The latest corporate deal news also moved the market.

Buffalo Wild Wings jumped 6.3 percent after it agreed to be acquired by Arby's for $157 a share. Buffalo was at $117.25 a share before reports about a possible deal emerged two weeks ago. The stock added $9.20 to $155.60.

Emerson Electric rose 3.7 percent after the company withdrew its bid for Rockwell Automation. Emerson shares climbed $2.27 to $64.15. Rockwell added $6.09, or 3.2 percent, to $197.13.

Companies with strong quarterly results or outlooks also got a lift.

Thor Industries surged 13.3 percent after the RV maker reported quarterly earnings that were much higher than analysts were expecting. The stock gained $18.12 to $154.37. Rival Winnebago Industries rose $3.95, or 7.8 percent, to $54.60.

Tech Data climbed 10.2 percent after the information technology products company posted better-than-expected third quarter results and gave strong fourth-quarter forecasts. The stock picked up $9.54 to $102.76.

Real estate sector companies were the only laggard. Public Storage fell $5.50, or 2.6 percent, to $209.43.

Bond prices rose. The yield on the 10-year Treasury fell to 2.34 from 2.35 percent late Monday.

Benchmark U.S. crude dropped 12 cents to settle at $57.99 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, declined 23 cents to close at $63.61. Wholesale gasoline fell 2 cents to $1.77 a gallon.

In other energy futures trading, heating oil was little changed at $1.95 a gallon. Natural gas rose 15 cents, or 5 percent, to $3.07 per 1,000 cubic feet.

Gold inched up 50 cents to $1,294.90 an ounce. Silver fell 20 cents to $16.82 an ounce. Copper slid 6 cents to $3.07 a pound.

The dollar rose to 111.55 yen from 111.01 yen on Monday. The euro weakened to $1.1847 from $1.1899.

Major stock indexes in Europe rose following a downbeat day in Asia.

Germany's DAX added 0.5 percent, while France's CAC 40 gained 0.6 percent. Britain's FTSE 100 rose 1 percent.

In Asia, Japan's benchmark Nikkei 225 and Hong Kong's Hang Seng were little changed. Australia's S&P/ASX 200 lost nearly 0.1 percent. South Korea's Kospi added 0.3 percent. Shares in Southeast Asia were mixed.


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## bigdog




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## bigdog

https://www.usnews.com/news/busines...-fall-after-tech-slide-pulls-down-wall-street

* Dow Jones Industrials Breach 24,000 in Broad Market Rally *
*Wall Street finished November with a broad rally that gave the Dow Jones industrial average its biggest gain since March and pushed it past the 24,000 mark for the first time*

By ALEX VEIGA and PAUL WISEMAN, AP Business Writers

Wall Street finished November with a broad rally that gave the Dow Jones industrial average its biggest gain since March and pushed it past the 24,000 mark for the first time.

Other market indicators also reached milestones on Thursday. The Standard & Poor's 500 index, which is widely followed by professional investors, had its biggest monthly gain since February.

Technology stocks were responsible for much of the gain, following a sharp pullback the day before.

Investors were encouraged by the latest batch of economic data pointing to a pickup in global and domestic demand. But the run-up in the market really kicked in after developments in Washington gave traders fresh optimism that the Republican-led effort to forge a sweeping tax cut bill will succeed.

"A parade of data have surprised to the upside and that's helped underpin the market's tone," said Quincy Krosby, chief market strategist at Prudential Financial. "But clearly the move toward tax reform, moving through the hurdles, has the market poised for a tax reform package to be legislated either at the end of this year or early next year."

The S&P 500 index climbed 21.51 points, or 0.8 percent, to 2,647.58. The Dow jumped 331.67 points, or 1.4 percent, to 24,272.35. The average was briefly up more than 387 points.

The Nasdaq added 49.58 points, or 0.7 percent, to 6,873.97. The Russell 2000 index of smaller-company stocks picked up 1.84 points, or 0.1 percent, to 1,544.14. The major stock indexes all ended November with gains.

Stocks are being driven higher by a healthy economic backdrop and by the prospect that policy changes will fatten corporate profits.

The global economy is gathering momentum and a falling dollar has made American-made products cheaper overseas, benefiting U.S. corporations. And recent economic data have given investors more reason to feel bullish.


The Commerce Department reported this week that the U.S. economy grew at a 3.3 percent annual pace from July through September, the fastest in three years. Consumer spending and incomes posted healthy gains in October, the Labor Department reported Thursday.

American consumers, whose spending accounts for 70 percent of U.S. economic output, are in the sunniest mood since 2000, their disposition brightened by a healthy job market. The unemployment rate is at a 17-year low 4.1 percent.

The encouraging economic picture has pushed the yield on the 10-year Treasury higher. It climbed Thursday to 2.41 percent from 2.39 percent late Wednesday.

Investors are also enthusiastic about the Republican tax bill moving through Congress. On Thursday, Republican Sen. John McCain, who derailed the GOP effort to dismantle the Obama health care law last summer, said he would back the tax bill. The announcement was a major boost for the legislation, which would slash the tax on corporate earnings to 20 percent from 35 percent, reduce the likely taxes on foreign earnings and temporarily let companies immediately deduct the cost of investments from their taxes.

Traders have also welcomed the Trump administration's bid to reduce regulations, especially on financial firms, potentially boosting profits. The president's pick to run the Consumer Financial Protection Bureau, Mick Mulvaney, is expected to go easier on banks than his predecessor, Richard Cordray. Likewise, incoming Federal Reserve chief Jerome Powell has said he believes regulators can roll back some of the tougher bank rules imposed after the financial crisis.


Investors also have seasonality on their side. On average, December is the best month for stocks. And, while there are some warning signs and reasons for concern, analysts have some solid reasons to think December 2017 will be pretty good, too.

A day after technology stocks fell sharply, investors seized upon the lower share prices to buy into the sector. PayPal added $2.48, or 3.4 percent, to $75.73.

Banks and other financial companies posted solid gains. Goldman Sachs Group rose $6.28, or 2.6 percent, to $247.64.

Crude oil prices recovered from an early afternoon slide after OPEC and a group of allied oil-producing nations agreed to prolong crude output cuts until the end of next year. The move extends a policy that has helped lead to a significant rise in the price of oil over the past year.

Benchmark U.S. crude added 10 cents to settle at $57.40 per barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, gained 46 cents, or 0.7 percent, to close at $63.57 a barrel in London. In other energy futures trading, wholesale gasoline was little changed at $1.73 a gallon. Heating oil shed 3 cents to $1.89 a gallon. Natural gas fell 15 cents, or 4.8 percent, to $3.03 per 1,000 cubic feet.

The dollar rose to 112.53 yen from 111.82 yen on Wednesday. The euro strengthened to $1.1896 from $1.1863.

Gold fell $8.90, or 0.7 percent, to $1,273.20 an ounce. Silver dropped 8 cents to $16.38 an ounce. Copper was little changed at $3.04 a pound.

Major stock indexes in Europe declined. Germany's DAX slipped 0.3 percent, while France's CAC 40 fell 0.5 percent. London's FTSE 100 lost 0.9 percent.


Earlier in Asia, Hong Kong's Hang Seng index gave up 1.5 percent, while Tokyo's Nikkei 225 gained 0.6 percent. Seoul's Kospi fell 1.4 percent. Sydney's S&P-ASX 200 declined 0.7 percent. India's Sensex lost 1.4 percent.


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## bigdog

https://www.usnews.com/news/busines...ostly-higher-following-tech-recovery-oil-deal

* US Stocks Mostly Recoup Their Losses After Early Slide *
*Wall Street took investors on a turbulent ride Friday as stock indexes veered into a steep slide that knocked 350 points off the Dow Jones industrial average before the market eventually clawed back most of its losses.*

By ALEX VEIGA, AP Business Writer

Wall Street took investors on a turbulent ride Friday as stock indexes veered into a steep slide that knocked 350 points off the Dow Jones industrial average before the market eventually clawed back most of its losses.

The market stumbled after former national security adviser Michael Flynn pleaded guilty to lying to the FBI and said he would cooperate with the probe into Russian meddling in the U.S. presidential election.

That raised concerns among traders that the White House's legislative agenda, including a tax overhaul under debate in Congress, could be at risk. Those jitters were allayed somewhat by early afternoon, when Senate Republicans signaled they have enough votes to push forward on the tax legislation.

"Once the Senate did announce that they had sufficient votes to move forward, there was a respite and we did come off the lower levels," said Eric Wiegand, senior portfolio manager for Private Wealth Management at U.S. Bank.

The Standard & Poor's 500 index fell 5.36 points, or 0.2 percent, to 2,642.22. The index still ended the day with its best week since mid-September. The Dow Jones industrial average slid 40.76 points, or 0.2 percent, to 24,231.59. The Nasdaq composite lost 26.39 points, or 0.4 percent, to 6,847.59. The Russell 2000 index of smaller-company stocks gave up 7.12 points, or 0.5 percent, to 1,537.02.

The indexes, which hit record highs earlier this week, had been little changed before Flynn's plea deal was announced.

"The losses that we saw right when the Flynn information came out — the market just hit an air pocket," said Phil Orlando, chief equity strategist at Federated Investors.

In pleading guilty Friday to lying to the FBI about his contacts with the Russian ambassador, Flynn admitted he followed directions from an unnamed member of President Donald Trump's transition team. Special Counsel Robert Mueller is examining possible coordination between Russia and the Trump campaign to influence the outcome of the 2016 election. Flynn is the first official who worked in the Trump White House to make a guilty plea in the investigation.


The news of Flynn's plea came as investors were keeping an eye on Washington, where Republicans moved to make major changes to their proposed tax overhaul package.

Senate Majority Leader Mitch McConnell said after a closed-door meeting of Republican senators that the GOP had the votes to deliver the legislation, which is expected to add $1 trillion to the nation's deficit over 10 years. It would also slash the corporate tax rate, offer more modest cuts for families and individuals and eliminate several popular deductions.

"The tax bill, in our mind, is going through," said Orlando. "This Flynn situation, the Mueller investigation, does not derail the tax reform, which we think is essentially at hand."

The technology sector, an investor favorite since the beginning of the year, accounted for some of the biggest losses Friday. Qorvo fell $2.37, or 3.1 percent, to $74.21.

Qualcomm declined 1.3 percent after Bloomberg News reported that Broadcom, a rival chipmaker, won't make a new offer for the company until next year. Qualcomm shed 85 cents to $65.49. Broadcom lost $6.38, or 2.3 percent, to $271.56.

Several airlines traded lower as industrial stocks declined.

American Airlines Group fell $1.49, or 3 percent, to $49, while Alaska Air Group gave up $2.26, or 3.3 percent, to $66.91.


Ulta Beauty slid 4.1 percent after the beauty products retailer issued a disappointing forecast for the current quarter that overshadowed solid third-quarter results. The stock dropped $9.13 to $212.58.

Investors welcomed news that Blue Apron named a new CEO. The meal kit maker has struggled since its initial public offering in June. The stock rose 24 cents, or 8 percent, to $3.23.

A pickup in crude oil priced helped lift energy stocks, giving the sector the biggest gain in the S&P 500.

Oil and gas producer Apache Corp. also posted the big gain among S&P 500 companies, climbing $2.39, or 5.7 percent, to $44.22.

Benchmark U.S. crude New York rose 96 cents, or 1.7 percent, to settle at $58.36 a barrel. Brent, the international standard, added $1.10, or 1.8 percent, to close at $63.73 a barrel.

In other energy futures trading, wholesale gasoline gained a penny to $1.74 a gallon. Heating oil picked up 4 cents to $1.94 a gallon. Natural gas gained 4 cents to $3.06 per 1,000 cubic feet.

Bond prices rose. The yield on the 10-year Treasury fell to 2.36 percent from 2.41 percent late Thursday.

The dollar fell to 112.05 yen from 112.53 yen on Thursday. The euro weakened to $1.1893 from $1.1896.

Gold added $5.60, or 0.4 percent, to $1,278.80 an ounce. Silver dropped 9 cents to $16.30 an ounce. Copper rose 3 cents to $3.07 a pound.

Major stock indexes in Europe closed lower. Germany's DAX fell 1.2 percent, while France's CAC 40 fell 1 percent. The FTSE 100 index of leading British shares lost 0.4 percent.

Indexes in Asia were mixed. Japan's Nikkei 225 rose 0.4 percent. South Korea's Kospi fell less than 0.1 percent. Hong Kong's Hang Seng index slipped 0.4 percent. Australia's S&P/ASX 200 gained 0.3 percent.

6366


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## bigdog

https://finance.yahoo.com/m/dad0d660-62a1-3282-951f-a12a6117d009/ss_slump-for-tech-stocks.html

*Slump for tech stocks overshadows gains by telecoms, banks*

NEW YORK (AP) — Stock indexes didn't do much at first glance on Monday, but the modest move for the Standard & Poor's 500 masked some dramatic changes roiling underneath the surface.

Telecom stocks, banks and other areas of the market that stand to benefit the most from Washington's drive to cut corporate tax rates jumped. At the same time, technology stocks slumped and gave up a chunk of the gains that have made them the best-performing part of the market by far this year.

The New York Stock Exchange was nearly evenly split between stocks that rose and fell, and the split in performance left the S&P 500 close to where it began the day. It dipped 2.78 points, or 0.1 percent, to 2,639.44.

The Dow Jones industrial average rose 58.46, or 0.2 percent, to 24,290.05, and the Nasdaq composite fell 72.22, or 1.1 percent, to 6,775.37.

The cross-currents swept through the market on the first day of trading after the Senate narrowly approved its proposal to revamp the tax system. Indexes initially jumped on expectations that lower tax rates would help corporate profits pile up even higher, and the S&P 500 was up as much as 0.9 percent in morning trading.

Lower tax rates would help boost profits for companies, which already have been reporting resurgent earnings growth this year thanks to the improving global economy. If profits do accelerate, it would help allay worries that the stock market, which is still close to record highs, has climbed too far, too quickly.

Telecommunications companies pay some of the highest effective tax rates among the big companies in the S&P 500, so they stand to reap some of the biggest rewards of lower tax rates. Telecom stocks in the index jumped 1.6 percent, tied for the biggest gain of the 11 sectors in the index.

Financial stocks, which analysts also expect to be winners from the tax overhaul, likewise climbed 1.6 percent.

Technology companies, meanwhile, will likely get less of a boost. They already were typically paying the lowest effective tax rates of the 11 sectors in the S&P 500, analysts said.

Tech stocks in the index dropped 1.9 percent, lagging far behind the rest of the market. It's a very different position for the sector, which has nearly doubled the performance of the S&P 500 this year. The strong gains earlier in the year led some skeptics to say that tech stocks had become overly pricey.

"It's not that the tax bill is negative for tech companies," said Ernie Cecilia, chief investment officer at Bryn Mawr Trust. "It's just less positive for it than for other areas. The message is that although tax reform seems to be a positive, we have to see how that will play out on individual companies and industries."

Adding to the uncertainty is the work that remains for the tax overhaul to become law. The Senate and House of Representatives still need to iron out differences in their respective proposals, and Cecilia warned that stocks could see more ups and downs as details come out in coming days about which companies will most benefit.

Congress still has a packed schedule, the tax-overhaul notwithstanding. Washington faces a deadline on Friday to avert a shutdown of the government.

Friday is also the day the government will release its monthly jobs report, one of the last major economic reports before the Federal Reserve's meeting next week on interest rates. Many economists expect the Fed to approve the third rate increase of the year.

And hanging over everything in Washington is the investigation that continues into Russia's involvement with last year's presidential election. President Donald Trump's former national security adviser has pleaded guilty to lying to the FBI and has agreed to cooperate with the probe, which could threaten the agenda set by Trump and his fellow Republicans in control of Congress.

In Europe, stock markets rallied as negotiations continued for the United Kingdom's exit from the European Union. France's CAC 40 jumped 1.4 percent, and Germany's DAX surged 1.5 percent. The FTSE 100 in London rose 0.5 percent.

Asian markets were mixed. South Korea's Kospi rose 1.1 percent, the Hang Seng in Hong Kong gained 0.2 percent and Japan's Nikkei 225 index fell 0.5 percent.

In the bond market, the yield on the 10-year Treasury note held steady at 2.37 percent.

The dollar rose to 112.60 Japanese yen from 112.05 yen late Friday. The euro fell to $1.1855 from $1.1893, and the British pound rose to $1.3471 from $1.3468.

Benchmark U.S. crude slumped 89 cents to settle at $57.47 per barrel. Brent crude, the international standard, fell $1.28 to $62.45 a barrel in London.

Natural gas lost 8 cents to $2.99 per 1,000 cubic feet, heating oil lost 5 cents to $1.89 per gallon and wholesale gasoline dropped 5 cents to $1.69 per gallon.

Gold dipped $4.60 to settle at $1,277.70 per ounce, silver lost 2 cents to $16.37 and copper was close to flat at $3.09 per pound.


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## bigdog

https://finance.yahoo.com/m/44a68f8e-6f58-3eb8-8596-ff902a0cb86b/ss_s&p-500-drops-to-third.html

*S&P 500 drops to third straight loss after tech rally fades*

NEW YORK (AP) — Another afternoon fizzle for stocks left the Standard & Poor's 500 index with its third straight loss on Tuesday.

The market seemed like it was headed for a gain in the morning, after technology stocks recovered from one of their few stumbles this year. But the tech rally lost momentum as the afternoon went on, and losses for telecom stocks and utilities helped cement the S&P 500's longest losing streak in nearly four months.

The S&P 500 fell 9.87 points, or 0.4 percent, to 2,629.57. It had been up 0.3 percent in the morning, and it marked the second straight day where an early rally ended up petering out.

The Dow Jones industrial average lost 109.41, or 0.5 percent, to 24,180.64, and the Nasdaq composite fell 13.15, or 0.2 percent, to 6,762.21. Losers outnumbered winners on the New York Stock Exchange by nearly two to one.

The market's ups and downs have come as investors sift through Congress' twin proposals to revamp the tax system. The Senate and House of Representatives are trying to reconcile their respective versions before sending it to President Donald Trump for his approval, and investors are trying to figure out which industries and companies will come out as winners and losers from it.

After leading the market for most of this year, technology stocks moved into the losers' column recently. Technology companies already pay some of the lowest effective tax rates of companies in the S&P 500, so they have less to gain from the proposal.

Tech stocks in the S&P 500 began to stumble last week as expectations ramped up for the tax overhaul and as investors shifted into companies that stand to benefit most from lower rates, such as financial companies. It culminated in a loss of 1.9 percent for S&P 500 tech stocks on Monday, the first trading day after the Senate passed its version of the tax overhaul. The Senate's proposal to keep the alternative minimum tax for all companies also hurt tech stocks.

It's a rare stumble for the tech industry, which had climbed twice as much as the S&P 500 in the first 11 months of the year. And that attracted buyers.

Chip makers and internet companies led the market on Tuesday, and technology stocks in the S&P 500 rose 0.2 percent. It was the only sector of the 11 that make up the index to rise, though it had been up as much as 1.4 percent earlier in the day.

Micron Technology rose $1.31, or 3.3 percent, to $41.21 for the largest gains in the S&P 500.

"I don't think this is the beginning of the end for tech," said Brian Nick, chief investment strategist at Nuveen. "Tech is going to be supported by very strong earnings, which is ultimately what's going to drive the market next year."

The rest of the market, though, was down on Tuesday. Telecom stocks fell 1.8 percent for the sharpest loss among the index's sectors. A day earlier, it had the market's strongest gains. Utilities, industrial companies and retailers were also weak.

Edison International slumped $10.26, or 12.8 percent, to $70 for the biggest loss in the S&P 500. Wildfires are raging outside Los Angeles, and investors are guessing the damage could result in losses for the company's Southern California Edison electric utility subsidiary.

In Europe, markets were down modestly as negotiations continued for the United Kingdom's pending departure from the European Union.

France's CAC 40 dipped 0.3 percent, and Germany's DAX fell 0.1 percent. The FTSE 100 in London lost 0.2 percent.

In Asia, Tokyo's Nikkei 225 index slipped 0.4 percent, Hong Kong's Hang Seng index dropped 1 percent and the Kospi in South Korea gained 0.3 percent.

In the bond market, Treasury yields fell as bond prices rose. The yield on the 10-year Treasury note dropped to 2.35 percent from 2.37 percent late Monday.

The dollar ticked up to 112.62 Japanese yen from 112.60 yen late Monday. The euro dipped to $1.1816 from $1.1855, and the British pound fell to $1.3442 from $1.3471.

Benchmark U.S. crude rose 15 cents to settle at $57.62 per barrel. Brent crude, the international standard, gained 41 cents to $62.86 a barrel in London.

Natural gas fell 7 cents to $2.91 per 1,000 cubic feet, heating oil rose 2 cents to $1.91 per gallon and wholesale gasoline gained 3 cents to $1.72 per gallon.

Gold slipped $12.80 to settle at $1,264.90 per ounce, silver lost 31 cents to $16.07 per ounce and copper dropped 14 cents to $2.95 per pound.


----------



## bigdog

https://www.usnews.com/news/busines...extend-losses-after-dismal-session-on-wall-st

* Sinking Energy Stocks Pull S&P 500 to Fourth Straight Loss *
*U.S. stocks took another small step backward on Wednesday after a plunge in the price of oil dragged down shares of energy producers.*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks took another small step backward on Wednesday after a plunge in the price of oil dragged down shares of energy producers. The losses overshadowed gains for technology companies and other areas of the market.

The Standard & Poor's 500 index dipped by a fraction of a point, down 0.30 to 2,629.27, and it's down just 0.5 percent so far this week. But even those modest movements could count as notable in a year that's been unusually calm and easy for investors. It was the fourth straight loss for the index, the first time that has happened since March.

The Dow Jones industrial average fell 39.73 points, or 0.2 percent, to 24,140.91, the Nasdaq composite rose 14.16, or 0.2 percent, to 6,776.38 and the Russell 2000 index of small-cap stocks lost 7.88, or 0.5 percent, to 1,508.88.

Stocks have been mostly drifting lower this week following a strong run for markets this year. The ups and downs have come as the Senate and House of Representatives try to iron out differences in their proposals to overhaul the tax system, and investors shift their portfolios toward companies that stand to benefit most from lower rates.

"It looks like we topped out last week and we've been rolling a bit," said Phil Orlando, chief equity market strategist at Federated Investors. "The reality is we had a phenomenal run here, and we looked a little overbought in my mind. So I wouldn't at all discount a little bit of a correction here of 2 or 3 percent."

The market, which is still up more than 17 percent for the year, is also in a relatively quiet period, Orlando said. Companies have finished reporting how much profit they made in the summer, and fourth-quarter reports won't start again in earnest for more than a month. That can lead to a drifting market.

The market's biggest movers were energy stocks, which sank with the price of oil. Benchmark U.S. crude fell $1.66 to settle at $55.96 per barrel. Brent crude, the international standard, lost $1.64 to $61.22 a barrel.

That led to a 1.3 percent loss for energy stocks in the S&P 500, the sharpest drop among the 11 sectors that make up the index. Oil company Newfield Exploration fell $2.12, or 6.9 percent, to $28.44 for the biggest loss of any stock in the S&P 500.

Companies in the dental industry were also weak, hurt by fears that their industry is the next that Amazon will upend. Patterson Companies lost $1.51, or 4.2 percent, to $34.81, and Henry Schein fell $3.52, or 5 percent, to $67.58.

Analysts at Morgan Stanley cut their financial estimates for the companies on signs that Amazon has gotten access to a key dental equipment maker and may line up others in coming years, among other factors.

On the winning side was DaVita, which jumped to the biggest gain in the S&P 500 after UnitedHealth Group said it will buy DaVita's medical group, which serves patients through nearly 300 medical clinics, for $4.9 billion in cash. DaVita gained $8.27, or 13.6 percent, to $69.20.

Technology stocks also rose, and they recovered some of their losses from earlier in the week.

The main drivers for the stock market much of this year have been the improving global economy and a resulting jump in profits for businesses. A report on Wednesday implied that the U.S. job market continues to strengthen.

Private employers added 190,000 jobs last month, according to a report from payroll processor ADP. Economists see the report as a relatively good indication of what the more comprehensive federal government's jobs tally will show.

That report arrives on Friday, and it will be one of the last pieces of major economic data released before the Federal Reserve's meeting next week on interest rates. Most economists expect the Fed to raise rates, which would be the third increase of the year.

Treasury yields sank as prices for government bonds rose. The yield on the 10-year Treasury note dropped to 2.33 percent from 2.35 percent late Tuesday.

In markets overseas, Asian stocks slumped. Japan's Nikkei 225 index lost 2 percent for its worst day since March. The Hang Seng in Hong Kong dropped 2.1 percent, and South Korea's Kospi lost 1.4 percent.

In Europe, markets trimmed their losses as the day progressed. Germany's DAX dropped 0.4 percent, and France's CAC 40 ended little changed. The FTSE 100 in London rose 0.3 percent.

The dollar dipped to 112.28 Japanese yen from 112.62 yen late Monday. The euro fell to $1.1793 from $1.1816, and the British pound slipped to $1.3375 from $1.3442.

In the commodities markets, natural gas rose a cent to $2.92 per 1,000 cubic feet, heating oil fell 5 cents to $1.86 per gallon and wholesale gasoline dropped 6 cents to $1.66 per gallon.

Gold ticked up by $1.20 to $1,266.10 per ounce, and silver fell 11 cents to $15.96 per ounce. Copper recovered a fraction of its sharp loss from the day before and rose 2 cents to $2.96 per pound.


----------



## bigdog

https://www.usnews.com/news/busines...ces-mixed-after-us-markets-regain-equilibrium

* S&P 500 Snaps Losing Streak as Industrial, Tech Stocks Rise *
*U.S. stock indexes perked higher following a nearly weeklong slumber, and the Standard & Poor's 500 rose on Thursday for the first time in five days.*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stock indexes perked higher on Thursday following a nearly weeklong lull, and the Standard & Poor's 500 rose for the first time in five days.

Industrial and technology companies helped lead the way, as broad swaths of the market climbed. Nearly two stocks rose for every one that fell on the New York Stock Exchange, and the price of crude oil clawed back some of its sharp loss from Wednesday.

The S&P 500 rose 7.71 points, or 0.3 percent, to 2,636.98 and snapped its longest losing streak since March. Losses through that span were modest, though, with the index down only 0.7 percent.

The Dow Jones industrials average rose 70.57, or 0.3 percent, to 24,211.48, the Nasdaq composite gained 36.47, or 0.5 percent, to 6,812.84 and the Russell 2000 index of small-cap stocks jumped 11.59, or 0.8 percent, to 1,520.47.

The gains were a return to form for a stock market that earlier had been driving higher on expectations that Washington will push through an overhaul of the tax system. The Senate passed its proposal over the weekend, and its plan would create slightly different winners and losers among corporate taxpayers than the House of Representatives' version. This week, investors have been trying to shift to the areas of the market they see ultimately benefiting the most, which led to some ups and downs.

Stocks may continue to drift until investors get more clarity on what the final tax proposal will be, said Tom Stringfellow, chief investment officer at Frost Investment Advisors.

"The market has already been bid up on anticipation of this, and the real test will be what do both houses come up with and what is put on the president's desk to sign," he said.

In the meantime, a strengthening global economy and climbing corporate earnings are supporting stock prices. "We have seen so many positives flow through, from Europe to Asia to global trade," Stringfellow said. "It's just those wild cards out there," such as a potential conflict with North Korea, that worry investors.

Technology stocks were some of the market's better performers, shaking off an uncharacteristic weak stretch. The industry stumbled earlier this week on expectations that it will benefit less from lower tax rates than financial companies, retailers and other areas of the market.

Tech stocks in the S&P 500 rose 0.6 percent, and they trimmed their loss for the week to 0.3 percent. They are up nearly 36 percent for the year, double the S&P 500's gain.

Energy stocks recovered some of their losses from a day earlier as the price of oil ticked higher.

Benchmark U.S. crude added 73 cents to settle at $56.69 per barrel and recovered a chunk of its $1.66 loss from Thursday. Brent crude, the international standard, rose 98 cents, or 1.6 percent, to $62.20 a barrel in London. That helped energy stocks in the S&P 500 rise 0.3 percent.

More evidence that the job market is strengthening also arrived after a government report showed that fewer workers filed for unemployment benefits last week. The numbers are considered a proxy for layoffs, and they offer an encouraging sign that the U.S. labor market continues to improve.

On Friday, the government will release its closely watched monthly jobs report. If it shows as much strength in hiring during November as economists expect, the Federal Reserve will likely be on track to raise interest rates at its meeting next week. It would be the third rate increase of the year.

The yield on the 10-year Treasury note rose to 2.36 percent from 2.34 percent late Wednesday.

The dollar rose to 113.13 Japanese yen from 112.28 yen late Wednesday. The euro dipped to $1.774 from $1.1793, and the British pound rose to $1.3465 from $1.3375.

In the commodities markets, gold fell $13.00 to settle at $1,253.10 per ounce, silver lost 15 cents to $15.80 per ounce and copper was close to flat at $2.96 per pound.

Natural gas fell 16 cents to $2.76 per 1,000 cubic feet, heating oil rose 4 cents to $1.90 per gallon and wholesale gasoline added 4 cents to $1.70 per gallon.

In stock markets overseas, Japan's Nikkei 225 index rose 1.4 percent following its worst day since March, a 2 percent loss. The Hang Seng in Hong Kong rose 0.3 percent, and South Korea's Kospi lost 0.5 percent.

Germany's DAX rose 0.4 percent, the FTSE 100 in London dipped 0.4 percent and France's CAC 40 gained 0.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines...s-rise-on-wall-street-gains-upbeat-japan-data

* S&P 500 Returns to Record Following Strong US Jobs Report *
*Stocks rose on Friday following a better-than-expected U.S. jobs report.*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Stocks rose Friday following a better-than-expected U.S. jobs report, and the strong finish pushed the Standard & Poor's 500 index to its third straight weekly gain despite some weakness earlier in the week.

The gains were widespread, and telecom and health care stocks helped lead the way. Overseas markets were also higher after negotiators hit a breakthrough in the United Kingdom's efforts to leave the European Union.

The S&P 500 rose 14.52 points, or 0.6 percent, to finish at 2,651.50, another record. The Dow Jones industrial average gained 117.68, or 0.5 percent, to 24,329.16, and the Nasdaq composite rose 27.24, or 0.4 percent, to 6,840.08.

The U.S. jobs report, which is the economic highlight of each month, showed that employers added 228,000 jobs last month and the unemployment rate remained at a low 4.1 percent. It's the latest evidence that the U.S. economy continues to improve, in sync with the rest of the world.

Paychecks, though, have not been getting much bigger, and hourly wages rose less last month than economists expected. Higher pay would help workers spend more, but it could also lead to higher inflation.

"The way risk markets are looking at it is it's very much a Goldilocks environment: still muted or low inflation and very positive growth," said Erin Browne, head of asset allocation at UBS Asset Management.

She said that one area where wages seemed to be improving more was in the manufacturing industry. It's an indication that companies are spending more on equipment and other things to grow, an encouraging sign that economists had been waiting years to see.

The jobs report is the last major piece of economic data before the Federal Reserve meets next week to discuss interest rate policy. Most economists expect it to approve the third increase in short-term rates for the year.

Biotechnology stocks helped lead the market, and health care stocks in the S&P 500 rose 1.1 percent for one of the biggest gains of the 11 sectors that make up the index.

Alexion Pharmaceuticals jumped $7.68, or 7.2 percent, to $114.46 for the biggest gain in the S&P 500 following a report from The New York Times that an activist hedge fund has bought shares in the company and pushed it to do more to lift its stock price.

Technology stocks in the S&P 500 rose 0.4 percent. The industry has been the market's biggest winner this year, but it had stumbled recently as investors moved out of tech stocks and into companies seen as benefiting more from Washington's push to overhaul the tax code, such as financial companies and retailers. The pullback was short-lived, and tech stocks erased their losses for the week.

Another potential source of worry for investors dissipated after Congress passed a spending bill that will prevent a government shutdown this weekend. The deal keeps the government running only until Dec. 22, though, when another deadline looms.

Stock markets in Europe climbed after negotiators reached a key agreement that allows talks to continue to the next stage for the United Kingdom to leave the European Union. Investors are hoping for a smooth exit that does not disrupt global trade.

In Germany, meanwhile, political parties agreed to open talks that could renew Chancellor Angela Merkel's governing coalition. That helped Germany's DAX index gain 0.8 percent. The FTSE 100 in London rose 1 percent, and France's CAC 40 gained 0.3 percent.

Japan's Nikkei 225 index jumped 1.4 percent, the Hang Seng in Hong Kong gained 1.2 percent and South Korea's Kospi rose 0.1 percent.

The price of oil continued to recover from its sharp loss in the middle of the week. Benchmark U.S. crude gained 67 cents to settle at $57.36 per barrel. Brent crude, the international standard, rose $1.20 to $63.40 per barrel. That helped energy stocks in the S&P 500 rise 0.9 percent.

Natural gas added a penny to $2.77 per 1,000 cubic feet, heating oil gained 3 cents to $1.93 per gallon and wholesale gasoline added 2 cents to $1.72 per gallon.

Gold slipped $4.70 to settle at $1,248.40 per ounce, silver rose 2 cents to $15.82 per ounce and copper added a penny to $2.98 per pound.

The yield on the 10-year Treasury note held steady at 2.37 percent.

The dollar ticked up to 113.51 Japanese yen from 113.13 yen late Thursday. The euro dipped to $1.1768 from $1.1774, and the British pound slipped to $1.3398 from $1.3465.

6719


----------



## bigdog

https://www.usnews.com/news/busines...-advance-following-encouraging-us-jobs-report

* US Stocks Close Modestly Higher; S&P 500, Dow Hit New Highs *
*Technology companies led U.S. stocks modestly higher Monday, driving the market to another set of milestones.*

By ALEX VEIGA, AP Business Writer

Technology companies led U.S. stocks modestly higher Monday, driving the market to another set of milestones.

The Standard & Poor's 500 index and Dow Jones industrial average finished at new highs. Both indexes also hit record highs on Friday.

Solid gains by health care companies also helped lift the market, outweighing losses among banks and industrial stocks. Energy stocks rose along with the price of crude oil.

Investors had their eye on bitcoin futures, which made their market debut. But traders were mostly looking ahead to the outcome of Wednesday's meeting of Federal Reserve policymakers.

"The market is kind of in a holding pattern, just sort of waiting for the Fed meeting," said Randy Frederick, vice president of trading & derivatives at Charles Schwab.

The S&P 500 index rose 8.49 points, or 0.3 percent, to 2,659.99. The index has risen on a weekly basis the past three weeks. The Dow gained 56.87 points, or 0.2 percent, to 24,386.03. The Nasdaq composite added 35 points, or 0.5 percent, to 6,875.08. The Russell 2000 index of smaller-company stocks slipped 1.88 points, or 0.1 percent, to 1,519.84.

The Fed is scheduled to issue an interest rate policy update on Wednesday. Economists expect the central bank to lift short-term rates by 0.25 percent. That would be the third interest rate hike by the central bank this year.

While inflation has remained low, the central bank has seen a path to gradually raise rates as the economy and labor market have strengthened.

The Labor Department said Monday that U.S. employers posted slightly fewer job openings in October than the previous month, but the number of people being hired increased. Last week, another report showed that employers added a net total of 244,000 jobs in October and 228,000 in November. The trend helped keep the unemployment rate at 4.1 percent.


"The Fed sees enough strength in the overall economy, despite the lack of inflation, to still go ahead and continue to hike rates," Frederick said.

Technology companies accounted for much of the market's gains Monday.

Symantec rose $1.24, or 4.4 percent, to $29.22. Apple gained up 1.9 percent after the website Apple Insider said the company is delivering new iPhones to customers at a faster pace. Apple also made news after it agreed to acquire the Shazam music-identification service for an undisclosed amount. The stock added $3.30 to $172.67.

Allergan led the gainers in the health care sector. The company climbed $4.96, or 3 percent, to $172.76.

Drugmaker Bluebird Bio surged 17.9 percent after it reported results from an early study of a cancer treatment that the company is developing with Celgene. Bluebird gained $30.65 to $201.80. Celgene added $1.91, or 1.8 percent, to $108.

Bitcoin futures rose on their first day of trading on a major U.S. exchange. Trading on the contract for the virtual currency began Sunday. The first-ever futures contract closed at $18,545, according to data from Cboe Global Markets, ending its initial day of trading with a 20 percent gain from its opening price.

The futures allow traders to make bets on the future direction of bitcoin. The price of an actual bitcoin has soared since it began the year below $1,000 and was at $17,095 at 5:07 p.m. Eastern Time Friday, according to Coindesk.

Overstock.com, which accepts bitcoin, surged $9.92, or 22 percent, to $55.

Oil and gas prices rose, boosting energy sector stocks. Chesapeake Energy added 15 cents, or 4.1 percent, to $3.83.


Benchmark U.S. crude gained 63 cents, or 1.1 percent, to settle at $57.99 per barrel on the New York Mercantile Exchange. Brent crude, the international standard, added $1.29, or 2 percent, to close at $64.69 per barrel in London.

Shares in banks and other financial companies declined. Zions Bancorporation shed 99 cents, or 1.9 percent, to $49.94.

Several industrial companies also posted losses, including Verisk Analytics. The stock slid $1.84, or 1.9 percent, to $94.32.

In other energy futures trading, wholesale gasoline picked up 1 cent to $1.73 per gallon, while heating oil gained 2 cents to $1.95 per gallon. Natural gas rose 6 cents, or 2 percent, to $2.83 per 1,000 cubic feet.

Gold slipped $1.50 to settle at $1,246.90 per ounce, while silver fell 4 cents to $15.79 per ounce. Copper added 3 cents to $3.01 per pound.

Bond prices were little changed. The yield on the 10-year Treasury note held at 2.38 percent.

The dollar edged up to 113.52 yen from 113.51 yen late Friday. The euro rose to $1.1786 from $1.1768.

Major stock indexes in Europe finished mostly lower. Germany's DAX and the CAC 40 in France each fell 0.2 percent, while Britain's FTSE 100 added 0.8 percent.

Earlier in Asia, Japan's Nikkei 225 stock index climbed 0.6 percent, while Hong Kong's Hang Seng index gained 1.0 percent. The S&P ASX 200 in Australia edged 0.1 percent higher. South Korea's Kospi picked up 0.3 percent. India's Sensex rose 0.2 percent. Shares in Southeast Asia also rose.


----------



## bigdog

https://www.usnews.com/news/busines...all-back-as-investors-cautious-over-fed-china

* US Stock Indexes Close Mostly Up; New Highs for S&P 500, Dow *
*Big-name companies notched gains on Wall Street Tuesday, delivering more records for two of the major stock indexes.*

By ALEX VEIGA, AP Business Writer

Big-name companies notched gains on Wall Street Tuesday, delivering more records for two of the major stock indexes.

The Standard & Poor's 500 index and the Dow Jones industrial average finished at all-time highs for the second day this week, while a slide in technology stocks pulled the Nasdaq lower. Small-company stocks also lagged.

Banks and other financial stocks led the gainers as the Federal Reserve met to discuss interest rates. The central bank is expected to raise rates for the third time this year on Wednesday, which allows banks to charge more to lend money.

Technology stocks declined the most. Energy stocks also fell as crude oil prices closed lower. Bitcoin futures fell on their second day of trading.

"It's another day, another all-time high," said Brian Nick, chief investment strategist at Nuveen Asset Management.

The S&P 500 index rose 4.12 points, or 0.2 percent, to 2,664.11. The Dow gained 118.77 points, or 0.5 percent, to 24,504.80. The Nasdaq lost 12.76 points, or 0.2 percent, to 6,862.32. The Russell 2000 index of smaller-company stocks fell 3.72 points, or 0.2 percent, to 1,516.12. More stocks fell than rose on the New York Stock Exchange.

Even though inflation has remained low, the Fed has seen a path to gradually raise rates as the economy and labor market have strengthened. While the central bank is widely expected to announce a 0.25 percent increase in short-term interest rates Wednesday, investors will be listening for any hints that the Fed could pick up its pace on rate hikes next year.

"There's a chance at the meeting tomorrow they're going to be showing four rate hikes next year in their forecast as opposed to three, where it had been in September," Nick said. "So this is seen as a not just sort of a one-off hike like we've had in the past, but a continuation of a quarterly cadence of rate hikes."


Meanwhile, the European Central Bank and the Bank of England will have policy announcements on Thursday. Neither is expected to change rates, leaving the focus on their economic forecasts.

The prospect of another short-term interest rate hike helped lift bank shares. Goldman Sachs Group rose $7.55, or 3 percent, to $257.68.

The latest batch of corporate earnings, outlooks and deal news also helped move markets Tuesday.

Several shopping mall owners closed higher after Australian company Westfield agreed to be bought by France's Unibail-Rodamco for $15.7 billion. Macerich gained $3.18, or 5 percent, to $66.47, while Simon Property Group rose $4.09, or 2.5 percent, to $166.35. GGP picked up 38 cents, or 1.6 percent, to $23.77.

Comcast rose 2.8 percent after the Wall Street Journal reported that the cable TV and entertainment company was no longer in talks to buy parts of 21st Century Fox. Comcast added $1.07 to $39.51. The Journal also reported that Disney is in talks with Fox and that a deal could be announced this week. Fox shares gained 44 cents, or 1.3 percent, to $34.10.

Urban Outfitters rose after the retailer issued a positive update on its fourth-quarter sales. The stock added 11 cents, or 0.3 percent, to $32.38.

The latest quarterly snapshot from Casey's General Stores put traders in a selling mood. The retailer slumped 11.6 percent after its second-quarter profit fell short of analysts' estimates. The stock gave up $14.07 to $107.18.

Edison International fell 6 percent after the utility said it believes authorities are looking into the possibility that wildfires in California started at one of its facilities. Edison shares slid $4.40 to $68.58.


Technology stocks, which have been the best performing sector this year with a gain of 37 percent, made up a big portion of the laggards. Micron Technology slid $1.15, or 2.7 percent, to $41.86.

Energy prices fell. Benchmark U.S. crude slid 85 cents, or 1.5 percent, to settle at $57.14 per barrel on the New York Mercantile Exchange. Brent crude, the international standard for oil, shed $1.35, or 2.1 percent, to close at $63.34 per barrel in London.

The decline in oil prices weighed on energy sector stocks. Cabot Oil & Gas shed 73 cents, or 2.6 percent, to $27.60.

In other energy futures trading, wholesale gasoline lost 3 cents to $1.70 a gallon. Heating oil shed 2 cents to $1.93 a gallon. Natural gas fell 15 cents, or 5.3 percent, to $2.68 per 1,000 cubic feet.

Gold fell $5.20, or 0.4 percent, to $1,241.70 an ounce. Silver dropped 12 cents to $15.67 an ounce. Copper added a penny to $3.02 a pound.

The dollar rose to 113.58 Japanese yen from 113.52 yen late Monday. The euro fell to $1.1737 from $1.1786.

Bitcoin futures fell $525, or 2.8 percent, to $18,020 on the Cboe Futures Exchange. The futures allow investors to make bets on the future price of bitcoin. The average price of an actual bitcoin was $17,246 in late-afternoon trading on private exchanges, according to Coindesk. The price of the digital currency has soared this year, having begun 2017 under $1,000.

Bond prices fell. The yield on the 10-year Treasury rose to 2.41 percent from 2.39 percent late Monday.

Major stock indexes in Europe rose. Germany's DAX gained 0.5 percent, while the CAC 40 of France added 0.8 percent. Britain's FTSE 100 rose 0.6 percent.


Earlier in Asia, Japan's Nikkei 225 index lost 0.3 percent, while South Korea's Kospi dropped 0.4 percent. The Hang Seng index in Hong Kong shed 0.6 percent. The S&P ASX 200 added 0.3 percent. India's Sensex dropped 0.7 percent. Other regional markets were mostly lower.


----------



## bigdog

https://www.usnews.com/news/busines...an-stocks-higher-ahead-of-likely-us-rate-hike

* US Stocks Indexes Close Mostly Higher After Fed Rate Hike *
*The major U.S. stock indexes finished mostly higher Wednesday, with small companies notching big gains as lawmakers in the House and Senate reached a deal on a sweeping tax reform package.*

By ALEX VEIGA, AP Business Writer

The major U.S. stock indexes finished mostly higher Wednesday, with small companies notching big gains as lawmakers in the House and Senate reached a deal on a sweeping tax reform package.

The Dow Jones industrial average eked out its third record-high close in as many days, driven by a jump in Caterpillar. But a last-minute pullback in bank stocks left the Standard & Poor's 500 index slightly lower.

Packaged food and beverage stocks, health care companies and industrials shares accounted for much of the market's modest gains. Banks struggled as long-term bond yields edged lower, which makes it tougher for banks to earn money from lending.

The decline in financial stocks came even as the Federal Reserve raised its benchmark rate for the third time this year. The move, which was widely expected, came as the central bank noted that the U.S. economy was on sound footing.

"Widely expected. No big surprises. No big changes," said Tim Dreiling, regional investment director at U.S. Bank Wealth Management. "It's encouraging that they continue to see economic growth continuing into 2018, which aligns with our thinking."

The S&P 500 index slipped 1.26 points, or 0.1 percent, to 2,662.85. The index closed at all-time highs on Monday and Tuesday.

The Dow gained 80.63 points, or 0.3 percent, to 24,585.43. The Nasdaq added 13.48 points, or 0.2 percent, to 6,875.80. The Russell 2000 index of smaller-company stocks picked up 8.33 points, or 0.6 percent, to 1,524.45.

Bond prices rose. The yield on the 10-year Treasury fell to 2.34 percent from 2.40 percent late Tuesday.

Trading got off to a subdued start Wednesday as investors waited for the afternoon policy update from the Fed.


As expected, the central bank raised the federal funds rate — what banks charge each other for short-term loans — by 0.25 percentage points to a still-low range of 1.25 to 1.5 percent. The latest short-term rate increase is the third one implemented by the Fed this year and signals the central bank's confidence that the U.S. economy remains on solid footing 8½ years after the end of the Great Recession.

The Fed also said it expects the job market and the economy to strengthen further next year, which is one reason it forecast that it would raise rates three times next year.

Developments out of Washington put investors in the mood to buy small company shares about two hours before the Fed's announcement.

Republican leadership in the House and Senate forged an agreement Wednesday on the GOP's planned overhaul of the nation's tax laws. The move paves the way for final votes next week to slash taxes for businesses and give many Americans modest tax cuts starting next year. Smaller companies stand to benefit most from a reduction in corporate tax rates because they tend to pay higher taxes than bigger corporations.

"If you look at the mix today, small caps are doing better than large caps," said Sameer Samana, global technical and equity strategist for Wells Fargo Investment Institute. "Clearly, they would be the better beneficiaries because they tend to pay higher tax rates."

Packaged food and beverage companies posted solid gains. Coca-Cola rose 61 cents, or 1.3 percent, to $45.90.

Health care stocks also rose. Incyte climbed $2.70, or 2.8 percent, to $98.10.

Caterpillar led the gainers among industrials stocks, adding $5.15, or 3.6 percent, to $148.57. The construction and mining equipment company was also the biggest gainer in the Dow.


Traders also bid up shares in Western Digital after the hard drive maker resolved a dispute with its partner Toshiba over Toshiba's plan to sell its flash memory business. Western Digital rose $1.86, or 2.3 percent, to $83.63.

Investors also welcomed some corporate deal news.

Finisar jumped 22.8 percent after Apple said it will invest $390 million in the fiber optic component supplier so it can make more lasers used in facial recognition technology. Finisar increased $4.40 to $23.70.

Target rose 2.7 percent after the retailer said it plans to boost its same-day delivery capability by paying $550 million for Shipt. The delivery service company charges members $99 a year and sends people out to choose and deliver groceries from stores. Target added $1.65 to $62.67.

Shares in Diebold fell 2.7 percent after the ATM and security systems maker said CEO Andreas Mattes resigned. The stock gave up 50 cents to $18.

Banks and other financial stocks declined the most among the 11 company sectors in the S&P 500. Charles Schwab slid $1.23, or 2.4 percent, to $50.33.

Oil prices veered lower, giving up early gains. Benchmark U.S. crude fell 54 cents to settle at $56.60 per barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, slid 90 cents, or 1.4 percent, to close at $62.44 per barrel in London.

The decline in oil prices weighed on several energy stocks. National Oilwell Varco lost 55 cents, or 1.7 percent, to $32.59.

The dollar fell to 112.52 Japanese yen from 113.58 yen late Tuesday. The euro strengthened to $1.1820 from $1.1737.

Bitcoin futures fell on their third day of trading, dropping $965, or 5.4 percent, to $17,055 on the Cboe Futures Exchange. The futures allow investors to make bets on the future price of bitcoin. The average price of an actual bitcoin was $16,654 in trading on private exchanges, according to Coindesk. The price of the digital currency has soared this year, having begun 2017 under $1,000.


In other energy futures trading, wholesale gasoline fell 5 cents, or 3 percent, to $1.65 a gallon. Heating oil shed 3 cents to $1.90 a gallon. Natural gas rose 4 cents, or 1.4 percent, to $2.72 per 1,000 cubic feet.

Gold rose $6.90 to $1,248.60 an ounce. Silver gained 20 cents to $15.87 an ounce. Copper added 3 cents to $3.05 a pound.

Major stock indexes in Europe also closed lower Wednesday. Germany's DAX fell 0.4 percent, while France's CAC-40 slid 0.5 percent. London's FTSE 100 shed 0.1 percent.

Earlier in Asia, Hong Kong's Hang Seng rose 1.5 percent, while Tokyo's Nikkei 225 shed 0.5 percent. Seoul's Kospi added 0.8 percent. Sydney's S&P-ASX 200 picked up 0.1 percent and India's Sensex added 0.4 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ares-slip-as-fed-china-hikes-dampen-sentiment

* Health Care Companies, Banks Drive Lower Close for US Stocks *
*Health care companies and banks drove U.S. stocks lower Thursday, pulling the major indexes below their recent highs.*

By ALEX VEIGA, AP Business Writer

Health care companies and banks drove U.S. stocks lower Thursday, pulling major indexes below their recent highs.

The afternoon slide, which erased gains from earlier in the day, came on news that some Republican senators' support for the GOP's proposed tax overhaul bill was faltering.

Small-company stocks, which would be among the biggest beneficiaries of the bill's reduction of corporate income tax rates, declined more than the rest of the market.

"The market is focused almost completely on the corporate tax reduction," said Quincy Krosby, chief market strategist at Prudential Financial. "And there are still concerns that some of the key Republican senators are wavering."

The losses outweighed gains among retailers, which got a boost from a government report showing that retail sales jumped in November.

The Standard & Poor's 500 index fell 10.84 points, or 0.4 percent, to 2,652.01. The Dow Jones industrial average lost 76.77 points, or 0.3 percent, to 24,508.66. The Nasdaq shed 19.27 points, or 0.3 percent, to 6,856.53. The Russell 2000 index of smaller-company stocks gave up 17.50 points, or 1.2 percent, to 1,506.95.

Despite the declines, the indexes are all on track to finish the week with a gain.

Republican Sen. Marco Rubio said Thursday he will vote against the proposed tax bill unless negotiators expand its child tax credit. The bill would increase the child tax credit to $2,000 from $1,000, but the Florida lawmaker wants more. Meanwhile, a spokesman for Republican Mike Lee said the senator is undecided on the bill.

House and Senate leaders agreed on the bill in principle on Wednesday, but were still finalizing the legislation, which they plan to unveil Friday and then move it through the Senate next week.


"With all eyes being on tax reform and getting really, really close to having it passed, now it comes down to the votes," said Tom Martin senior portfolio manager at GLOBALT Investments.

The stock indexes had been moving higher earlier in the day after the Commerce Department said that sales at retailers and restaurants jumped 0.8 percent last month. Sales in a category that mostly includes online shopping leapt 2.5 percent, while sales at electronics stores rose 2.1 percent. Furniture store sales increased 1.2 percent.

The report helped lift several retailers. Tiffany & Co. gained $3.24, or 3.4 percent, to $99.34, while Mattel added 65 cents, or 4.2 percent, to $16.24.

Health care stocks accounted for much of the market's losses. Medical care services company DaVita shed $2.27, or 3.2 percent, to $69.03.

Shares in several banks and other financial companies also declined. Navient fell 32 cents, or 2.5 percent, to $12.62.

Pier 1 Imports' latest outlook put investors in a selling mood. The home decor company slumped 29.5 percent after it cut its forecasts and said its business has struggled in December. The stock slid $1.72 to $4.12.

Traders welcomed news that Disney agreed to buy a large part of the Murdoch family's 21st Century Fox for about $52.4 billion in stock.

The deal includes film and television studios and cable and international TV businesses. The transaction also includes approximately $13.7 billion in debt. Robert Iger will continue as Disney's chairman and CEO through the end of 2021. Disney added $2.96, or 2.8 percent, to $110.57. Fox was the biggest gainer in the S&P 500, climbing $2.13, or 6.5 percent, to $34.88.


Teva Pharmaceuticals was another big gainer. The Israeli drugmaker jumped 10.2 percent after it said that it would lay off 14,000 workers, or more than a quarter of its staff. The move is part of a global restructuring meant to salvage its ailing business. Teva's shares picked up $1.60 to $17.30.

Bond prices were little changed. The yield on the 10-year Treasury held at 2.35 percent.

Oil prices rose, reversing an early slide. Benchmark U.S. crude added 44 cents to close at $57.04 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, rose 86 cents, or 1.4 percent, to $63.30 per barrel in London.

The dollar fell to 112.18 yen from 112.52 yen on Wednesday. The euro weakened to $1.1792 from $1.1820.

Bitcoin futures declined on their fourth day of trading, dropping $255, or 1.5 percent, to $16,800 on the Cboe Futures Exchange. The futures allow investors to make bets on the future price of bitcoin. The average price of an actual bitcoin was $16,496 in trading on private exchanges, according to Coindesk. The price of the digital currency has soared this year, having begun 2017 under $1,000.

In other energy futures trading, wholesale gasoline added 2 cents, or 1.5 percent, to $1.67 a gallon. Heating oil rose a penny to $1.91 a gallon. Natural gas slipped 3 cents, or 1.1 percent, to $2.68 per 1,000 cubic feet.

Gold rose $8.50 to $1,257.10 an ounce. Silver gained 7 cents to $15.93 an ounce. Copper added 2 cents to $3.07 a pound.

Major stock indexes in Europe finished lower after the European Central Bank and the Bank of England opted to keep interest rates unchanged, as expected. Germany's DAX fell 0.4 percent, while France's CAC 40 lost 0.8 percent. Britain's FTSE 100 shed 0.6 percent.


Earlier in Asia, Japan's benchmark Nikkei 225 index fell 0.3 percent. South Korea's Kospi gave up 0.5 percent, while Hong Kong's Hang Seng slipped 0.2 percent. Australia's S&P/ASX 200 lost 0.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ostly-lower-as-us-tax-bill-uncertainty-weighs

* Tech Companies Lead US Stocks Higher as Tax Plan Advances *
*Wall Street capped the week with broad gains, propelling the major stock indexes to a new set of milestones Friday.*

By ALEX VEIGA, AP Business Writer

Wall Street capped the week with broad gains, propelling the major stock indexes to a new set of milestones Friday.

Investors welcomed signs that Congressional Republicans were solidifying support for a major overhaul of the nation's tax laws ahead of an expected vote next week.

Technology stocks led the gains, which more than wiped out the market's losses from the day before. Health care companies and banks also posted solid gains. Energy stocks were the only laggard.

Small-company stocks, which stand to benefit most from lower corporate tax rates, rose more than the rest of the market.

"The tax bill seems to be the driver right now," said Erik Davidson, chief investment officer at Wells Fargo Private Bank. "The market just thinks it will get done."

The Standard & Poor's 500 index rose 23.80 points, or 0.9 percent, to 2,675.81. The Dow Jones industrial average gained 143.08 points, or 0.6 percent, to 24,651.74. The Nasdaq added 80.06 points, or 1.2 percent, to 6,936.58. The Russell 2000 index of smaller-company stocks picked up 23.47 points, or 1.6 percent, to 1,530.42.

The Dow, S&P 500 and Nasdaq closed at record highs and finished the week with gains.

The indexes were headed higher early on as investors watched developments in Washington with the Republican-led tax overhaul bill. GOP leaders moved to placate Florida Sen. Marco Rubio, who had said Thursday that he would vote against the bill unless the child tax credit was beefed up.

By Friday afternoon, Congressional Republicans had finalized the bill, expanding the child tax credit, and winning Rubio's support. The move provided a major boost for the GOP lawmakers in the Senate who are trying to hold together a razor-thin majority to pass the bill in a vote next week.


Technology stocks, which are leading the market this year, notched solid gains. Intel rose $1.30, or 3 percent, to $44.56.

"We had seen some rotation out of it the last few weeks," said Jim Davis, regional investment strategist at U.S. Bank Wealth Management. "We're starting to see more of a change back to some of the sectors that have done well this year."

Banks and other financial companies were among the biggest gainers. Navient added 58 cents, or 4.6 percent, to $13.20.

A batch of strong company earnings and outlooks also helped lift the markets Friday.

Costco Wholesale rose 3.3 percent after the warehouse club operator's latest quarterly earnings and sales came in well above financial analysts' expectations. The stock added $6.20 to $192.73.

Shares in Jabil gained 1.5 percent after the electronics manufacturer posted a bigger profit and better revenue than analysts had anticipated. The stock picked up 42 cents to $27.87.

Oracle's latest quarterly results failed to impress investors. Its stock fell 3.8 percent after the second-quarter performance of the business software company's cloud-computing business and its forecast for its current quarter disappointed traders. Oracle slid $1.89 to $48.30.

CSX slumped 7.6 percent after the railroad operator said CEO Hunter Harrison is taking a medical leave. The stock was the biggest decliner in the S&P 500, shedding $4.38 to $52.93.

Bond prices were little changed. The yield on the 10-year Treasury held steady at 2.35 percent late Thursday.

Oil futures finished mixed. Benchmark U.S. crude rose 26 cents to settle at $57.30 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, fell 8 cents to close at $63.23 per barrel in London.


Gold added 40 cents to $1,257.50 an ounce. Silver added 13 cents to $16.06 an ounce. Copper gained 6 cents, or 2 percent, to $3.13 a pound.

The dollar rose to 112.63 yen from 112.18 yen on Thursday. The euro weakened to $1.1757 from $1.1792.

Bitcoin futures finished its first week of trading on the Cboe Futures Exchange on a high note, climbing $1,305, or 7.8 percent, to $18,105.

The futures allow investors to make bets on the future price of bitcoin. The average price of an actual bitcoin was $17,682 in trading Friday on private exchanges, according to Coindesk. The price of the digital currency has soared this year, having begun 2017 under $1,000.

Bitcoin futures trading on the Cboe, which began late Sunday and had its first day of full trading on a major U.S. exchange on Monday, slowed a little bit after the first day, said Kalen Holliday, spokeswoman for Interactive Brokers, which handled half the volume on the initial day of trading.

All told, the weekly volume for the January contract was 9,588, according to FactSet.

At this point, it's too early to tell whether futures trading, which makes it easier to short bitcoin, will reduce the volatility of the digital currency.

"You have to have a pretty strong stomach at this point," Holliday said. "It's just right at the outset. Maybe things will settle down, maybe they won't. It's too early to tell."

Investors will get another option to trade in bitcoins Sunday, when the Cboe rival Chicago Mercantile Exchange is set to begin trade in bitcoin futures contracts.

In other energy futures trading, wholesale gasoline slipped 2 cents, or 1 percent, to $1.65 a gallon. Heating oil lost a penny to $1.90 a gallon. Natural gas fell 7 cents, or 2.7 percent, to $2.61 per 1,000 cubic feet.


Major stock indexes in Europe finished mostly higher. Germany's DAX rose 0.3 percent, while France's CAC 40 shed 0.2 percent. Britain's FTSE 100 rose 0.6 percent after European Union leaders said they would allow the Brexit talks to move on to the next stage, including trade.

Earlier in Asia, Japan's benchmark Nikkei 225 index dipped 0.6, while South Korea's Kospi climbed 0.5 percent. Hong Kong's Hang Seng shed 1.1 percent.

7812


----------



## bigdog

https://finance.yahoo.com/m/0f08b43...063b57d/ss_deals-and-hopes-for-corporate.html

*Deals and hopes for corporate tax cuts drive stocks higher*




MARLEY JAY

NEW YORK (AP) — U.S. stocks climbed again Monday and set more records as investors grew more certain Republicans will pass their tax plan this week. Technology companies climbed, as did banks and retailers, which are likely to see lower taxes.

Stocks have made hefty gains as the GOP appeared to shore up enough support to pass the bill, and Congressional Republicans are scheduled to start voting on the legislation Tuesday. The biggest gains have gone to companies that pay relatively higher tax rates, including smaller, U.S.-focused companies, banks and retailers.

"A lot of those companies don't have, or haven't taken advantage of, all of the nooks and crannies of the tax code," said Jason Pride, director of investment strategy at Glenmede. He thinks the average company will get a roughly 4 percent boost to its profits, and a tax break on corporate investment could push companies to spend more money on equipment.

Deal news also helped put investors in a buying mood. Two major food companies agreed to buy smaller snack makers: Campbell Soup plans to purchase pretzel maker Snyder's-Lance for $4.87 billion and Hershey will buy Amplify Snack Brands for $1.2 billion.

The Standard & Poor's 500 index gained 14.35 points, or 0.5 percent, to 2,690.16. The Dow Jones industrial average advanced 140.46 points, or 0.6 percent, to 24,792.20. The Nasdaq composite traded above 7,000 for the first time but later slipped below that milestone. It rose 58.18 points, or 0.8 percent, to 6,994.76. The Russell 2000 index of smaller-company stocks climbed 18.50 points, or 1.2 percent, to 1,548.92.

Campbell Soup will buy pretzel maker Snyder's-Lance for $50 a share, or $4.87 billion. The deal will give Campbell a group of brands including Snyder's of Hanover, Kettle Brand and Pop Secret. Snyder's climbed $3.25, or 6.9 percent, to $50.04. It has surged 27 percent since Tuesday's close on reports Campbell Soup was preparing a bid. Campbell gained 7 cents to $49.66.

Chocolate and candy maker Hershey agreed to buy Amplify Snack Brands for $12 a share, or $1.2 billion. Amplify's foods include Skinny Pop popcorn, Tyrrells potato chips and Oatmega protein bars. Amplify went public in August 2015 at $18 a share but had fallen steadily for more than a year. On Monday its stock jumped $5.01, or 71.6 percent, to $12.01. Hershey added 12 cents to $114.26.

Stocks also climbed Friday as Republicans in Congress appeared to shore up support to pass their tax plan. They hope to muscle the $1.5 trillion bill through Congress this week before a year-end break. The bill slashes the corporate tax rate, and that's especially significant for smaller and more domestically-focused companies because they pay higher rates than larger, more multi-national companies do.

Financial companies including regional U.S. banks did well Monday. Fifth Third Bancorp rose 44 cents, or 1.5 percent, to $30.47 and KeyCorp gained 40 cents, or 2 percent, to $20.16.

Among smaller companies, wheel and tire supplier Titan International climbed $1.05, or 8.9 percent, to $12.84. Clothing retailer Abercrombie & Fitch rose $1.12, or 6.7 percent, to $17.83. Instant-win lottery ticket maker Scientific Games advanced $1.25, or 2.5 percent, to $52.10.

Other leaders included technology companies. Apple gained $2.45, or 1.4 percent, to $176.42, another all-time high. Cloud services provider Akamai Technologies leaped after Elliott Management, led by activist investor Paul Singer, disclosed a 6.5 percent stake in the company and said it wants to discuss changes to the company's business and other areas. Akamai climbed $7.91, or 13.7 percent, to $65.67.

Bitcoin futures began trading on the Chicago Mercantile Exchange on Sunday. They dipped $375, or 1.9 percent, to $19,125. Bitcoin futures started trading on the Cboe last week. Neither one involves actual bitcoin. Instead, they allow investors make bets on what the future price of bitcoin will do.

Benchmark U.S. crude declined 14 cents to $57.16 a barrel in New York. Brent crude, used to price international oils, gained 18 cents to $63.41 a barrel in London.

Wholesale gasoline rose 2 cents to $1.67 a gallon. Heating oil picked up 2 cents to $1.93 a gallon. Natural gas jumped 13 cents, or 5.1 percent, to $2.75 per 1,000 cubic feet.

Gold rose $8 to $1,265.50 an ounce. Silver added 14 cents to $16.21 an ounce. Copper picked up 1 cent to $3.15 a pound.

Bond prices dipped. The yield on the 10-year Treasury note rose to 2.39 percent from 2.35 percent.

The dollar fell to 112.56 yen from 112.63 yen. The euro rose to $1.1784 from $1.1757.

Germany's DAX rose 1.6 percent and the CAC 40 of France climbed 1.3 percent. In Britain, the FTSE 100 rose 0.6 percent.

Japan's Nikkei rose 1.6 percent after the country's exports surged in November, driven by robust demand for cars and manufacturing equipment. The Hang Seng in Hong Kong added 0.6 percent and the South Korean finished little changed.


----------



## bigdog

https://www.usnews.com/news/busines...ixed-after-wall-street-gains-on-tax-cut-hopes

* Stocks Retreat From Record Highs as House Passes Tax Bill *
*US stocks take losses after the House passed the Republican-backed tax bill, with technology companies and smaller firms taking some of the worst losses.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — After big gains over the last two days, U.S. stocks declined Tuesday after the House of Representative approved the Republican-backed tax bill, which would lower corporate tax rates.

Big technology companies gave up some of their recent gains, and so did smaller companies, which have surged because investors feel they will be major beneficiaries of the reduced corporate tax rate. High-dividend stocks dropped as bond yields rose. U.S. indexes had jumped to record highs over the last two days as Republicans appeared to shore up enough support to make sure the bill passes.

Investors like that because it would boost corporate profits and likely raise stock prices along with it. The bill would initially cut taxes for most Americans but by 2027 would increase tax bills for most.

While stocks weren't doing much Tuesday, bond prices fell. The yield on the 10-year Treasury note rose to its highest price in more than a month, to 2.45 percent from 2.39 percent late Monday.

Invesco Global Market Strategist Kristina Hooper said two factors are sending bond yields higher: investors are selling bonds to buy stocks as the tax bill appears likely to pass, and they also feel the bill may contribute to inflation.

"There's this expectation that we'll see companies save money on taxes, to put it simply, and spend more in other areas," she said. Investors think "it's going to have an impact on employment, wages, and therefore inflation," she said.

The Standard & Poor's 500 index lost 8.69 points, or 0.3 percent, to 2,681.47. The Dow Jones industrial average shed 37.45 points, or 0.2 percent, to 24,754.75. The Nasdaq composite gave up 30.91 points, or 0.4 percent, to 6,963.85. The Russell 2000 index of smaller-company stocks fell 12.17 points, or 0.8 percent, to 1,536.75. It climbed almost 3 percent over the previous two days.


Apple fell $1.88, or 1.1 percent, to $174.54 after it closed at a new high on Monday. Visa lost $1.41, or 1.2 percent, to $112.14.

The tax bill passed through the House, largely along party lines ahead of a Senate vote scheduled for Tuesday night. The $1.5 trillion package would cut the corporate tax rate to 21 percent from 35 percent, and would slash taxes for the wealthy, with smaller cuts for middle-and low-income families.

Investors also traded on corporate news. Offshore drilling platform maker McDermott International said it will acquire engineering, procurement and construction services company Chicago Bridge & Iron. The companies valued the deal at $6 billion. McDermott fell 90 cents, or 11.9 percent, to $6.69 and CB&I lost $1.91, or 10.7 percent, to $16.01.

Medical device maker Zimmer Biomet climbed after it named Bryan Hanson to be its new CEO. Hanson most recently led at Medtronic's minimally invasive therapies business. Former CEO David Dvorak left the company in July. Zimmer gained $6.95, or 6.1 percent, to $121.38.

Hospital operator Tenet Healthcare said it will cut another $100 million in costs and will look to sell its Conifer business, which provides revenue management services. The company also said it will continue shaking up its board. Its stock gained 29 cents, or 2 percent, to $15.03.

Nursing and rehabilitation center company Kindred Healthcare said it will be bought by health insurer Humana and two private equity firms for $9 a share. That values Kindred at $782 million, and the company said the deal is worth $4.1 billion including debt.


Rumors of a sale have boosted the stock 23 percent this month, including a gain of 10.5 percent Monday. On Tuesday it retreated 40 cents, or 4.2 percent, to $9.10.

The hype surrounding digital currencies showed no signs of slowing. Shares in the financial technology company Longfin have skyrocketed since it bought Ziddu.com, which created a virtual currency for micro-lending. Longfin went public last Wednesday at $5 a share and announced the Ziddu deal Friday. The stock slipped $4.11, or 5.7 percent, to $68.27, giving Longfin a market value of $5.7 billion.

Even CEO Venkat Meenavalli attributed the sudden spike to "euphoric mania" in an interview with CNBC late Monday.

Energy companies edged higher along with the price of oil. Benchmark U.S. crude rose 30 cents to $57.46 a barrel in New York while Brent crude, used to price international oils, added 39 cents to $63.80 a barrel in London.

Wholesale gasoline picked up 2 cents to $1.70 a gallon. Heating oil gained 1 cent to $1.94 a gallon. Natural gas sank 5 cents to $2.69 per 1,000 cubic feet.

Gold slipped $1.30 to $1,264.20 an ounce. Silver fell 5 cents to $16.15 an ounce. Copper added 1 cent to $3.15 a pound.

The dollar rose to 112.94 yen from 112.56 yen. The euro rose to $1.1845 from $1.1784.

The DAX in Germany slid 0.7 percent and the French CAC 40 gave up 0.7 percent. In Britain, the FTSE 100 rose 0.1 percent. Tokyo's Nikkei 225 shed 0.2 percent and Hong Kong's Hang Seng rose 0.7 percent. The Kospi in Seoul declined 0.1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...mixed-in-listless-trading-on-wall-street-fall

* Stocks End Mixed After Bouncing Around for Much of the Day *
*Stock indexes finished mixed after bouncing around for much of the day.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks bounced around Wednesday and finished little changed after Congress passed the Republican-sponsored tax bill. Smaller companies fared the best.

The Senate narrowly passed the tax bill after midnight and the House, which passed a similar bill Tuesday but had to go back and make changes, followed suit in the afternoon. President Donald Trump is expected to sign the bill soon.

Smaller companies climbed, as they might benefit the most from the corporate tax cut. Bond yields rose, which hurt companies that pay big dividends, including utilities and household goods makers.

Stocks have jumped over the last four weeks as the tax legislation moved closer to passing, but they haven't done much over the last two days as Congress voted on the bill. Stocks set all-time highs Monday and slipped on Tuesday.

It's been a very strong year for the market, and ordinarily investors might sell some of their holdings in late December and take some profits before they make new investments in January. But with a tax bill passing at the very end of the year, TD Ameritrade Chief Market Strategist JJ Kinahan said that pattern might not hold.

"This could be a year where you see the selling pressure at the beginning of the year because people are delaying their selling, waiting for a better tax environment," he said. "There are always unintended consequences with tax plans."

The Standard & Poor's 500 index lost 2.22 points, or 0.1 percent, to 2,679.25. The Dow Jones industrial average fell 28.10 points, or 0.1 percent, to 24,726.65. The Nasdaq composite slid 2.89 points, or less than 0.1 percent, to 6,960.96. The Russell 2000 index of smaller-company stocks rose 3.33 points, or 0.2 percent, to 1,540.08.


Investors have sent stocks higher in recent weeks as the tax bill's prospects improved. It would cut the corporate tax rate to 21 percent from 35 percent, which could increase corporate profits. Other provisions are intended to encourage companies to invest more money in their businesses.

In a note earlier this week, after the bill was largely complete, Barclays analyst Maneesh Deshpande said the bill will reduce the effective tax rate for S&P 500 companies to 20.7 percent from 26 percent because of changes taxation for profits made overseas. He said household goods companies, banks and industrial companies will get the largest tax cuts, while technology and health care companies won't see as much of a difference.

FedEx raised its annual profit forecast after saying its holiday season is off to a strong start. FedEx also said the tax bill could boost its profit this year by $4.40 to $4.50 a share because of changes in its deferred tax liabilities as well as a reduced tax rate. Its stock climbed $8.53, or 3.5 percent, to $251.07.

Bond prices fell further. The yield on the 10-year Treasury note rose to a nine-month high of 2.50 percent from 2.46 percent. When yields rise, it's good for banks because they can charge higher interest rates on mortgages and other kinds of loans.

AT&T rose 50 cents, or 1.3 percent, to $38.55. The company said last month that it would invest $1 billion domestically if the tax measure was adopted.

Energy companies climbed with oil prices. Benchmark U.S. crude rose 53 cents to $58.09 a barrel in New York. Brent crude, used to price international oils, added 76 cents, or 1.2 percent, to $64.56 a barrel in London.


Wholesale gasoline rose 4 cents to $1.74 a gallon. Heating oil stayed at $1.94 a gallon. Natural gas fell 6 cents to $2.64 per 1,000 cubic feet.

Clothing styling service Stitch Fix plunged $2.42, or 9.8 percent, to $22.34 after the company reported its results for the first time since it went public in November. Stitch Fix said its profit margins decreased because of its newer men's and plus size clothes.

Philip Morris International sank after Reuters reported that some of the employees who have worked on clinical studies of the company's iQOS device, which heats tobacco without burning it, have questions about the quality of that research. The company has spent years working on iQOS and asked the Food and Drug Administration to approve it at the end of 2016 based in part on those trials.

The stock fell $2.68, or 2.5 percent, to $104.37.

Gold rose $5.40 to $1,269.60 an ounce. Silver climbed 12 cents to $16.28 an ounce. Copper added 4 cents to $3.20 a pound.

Bitcoin futures turned sharply lower. On the CME, the price dropped $1,425, or 7.8 percent, to $16,775.

The dollar rose to 113.42 yen from 112.94 yen. The euro edged up to $1.1879 from $1.1845.

Germany's DAX dropped 1.1 percent and the French CAC 40 dipped 0.6 percent. In Britain, the FTSE 100 fell 0.3 percent. Japan's Nikkei 225 rose 0.1 percent. The South Korean Kospi lost 0.3 percent. The Hang Seng in Hong Kong slipped 0.1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ixed-lower-as-us-tax-passage-fails-to-impress

* Banks, Energy Companies Lead Rebound in US Stocks *
*Banks and energy companies led U.S. stocks higher Thursday, erasing modest losses from the day before.*

By ALEX VEIGA, AP Business Writer

Banks and energy companies led U.S. stocks higher Thursday, erasing modest losses from the day before.

Retailers and makers of consumer products also posted solid gains. Small-company stocks rose more than the rest of the market, and technology stocks lagged. Trading was mostly subdued as investors looked ahead to the long holiday weekend.

"Most of the optimism of the tax plan was probably built into the market already and I thought we might be in a little bit of a sideways mode here for a while," said Randy Frederick, vice president of trading & derivatives at Charles Schwab. "But we've pretty much gained back almost what we gave up in the last two days. It's a pretty good sign to see that."

The Standard & Poor's 500 index rose 5.32 points, or 0.2 percent, to 2,684.57. The Dow Jones industrial average gained 55.64 points, or 0.2 percent, to 24,782.29. The Nasdaq composite added 4.40 points, or 0.1 percent, to 6,965.36. The Russell 2000 index of smaller-company stocks picked up 7.03 points, or 0.5 percent, to 1,547.11.

The indexes are all on course to finish the month with solid gains.

They have risen over the past few weeks as Washington moved closer to passing its tax overhaul, but they haven't done much over the last several days as Congress voted on the bill.

On a day when many traders were starting to look ahead to the long holiday weekend, the market received some encouraging data on the economy.

The Commerce Department said Thursday that the U.S. economy grew at a solid 3.2 percent annual rate in the third quarter, slightly slower than previously estimated. The latest GDP estimate follows a 3.1 percent gain in GDP for the second quarter. Combined, the two quarters represent the best back-to-back quarterly growth rates in three years.


"GDP is still strong," said Tom Martin, senior portfolio manager at GLOBALT Investments. "A revision of one-tenth of a percentage point is really not much."

Banks and other financial companies accounted for a big portion of the market's gains. Wells Fargo rose $1.47, or 2.4 percent, to $61.61.

Oil prices veered higher, reversing losses from earlier in the day. The rebound helped lift energy stocks. Hess climbed $2.35, or 5.3 percent, to $46.34.

Benchmark U.S. crude added 27 cents to settle at $58.36 a barrel. Brent crude, which is used to price international oils, gained 34 cents to close at $64.90 a barrel in London.

"You definitely wanted to be long on energy today," Martin said.

Several big retailers and makers of consumer products also posted solid gains. Toymaker Mattel added 59 cents, or 3.9 percent, to $15.71. Luxury Jeweler Tiffany & Co. gained $2.41, or 2.4 percent, to $102.46.

Investors bid up shares in companies that beat earnings or outlook forecasts.

Finish Line jumped 12.9 percent after the athletic shoe and apparel retailer reported its quarterly revenue came in ahead of financial analysts' estimates. It also posted a loss that was more modest than analysts were expecting. Its shares gained $1.51 to $13.20.

Consulting firm Accenture rose 1.6 percent after it reported earnings that beat analysts' estimates. The stock was up $2.45 to $154.20.

Technology stocks, which are on track for an annual gain of 38 percent, the biggest gain this year, lagged the most Thursday.

Micron Technology was among the big decliners in the sector, sliding $1.33, or 2.9 percent, to $44.42.

California utility PG&E plunged 12.9 percent after it suspended its dividend to conserve cash amid concerns that it may be found liable for wildfires in northern California. The stock lost $6.62 to $44.50.


In other energy futures trading, wholesale gasoline rose a penny to $1.75 a gallon. Heating oil added 1 cent to $1.95 a gallon. Natural gas fell 4 cents or 1.5 percent, to $2.60 per 1,000 cubic feet.

Gold rose $1 to $1,270.60 an ounce. Silver fell 4 cents to $16.24 an ounce. Copper added 2 cents to $3.22 a pound.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.48 percent from 2.50 percent late Wednesday.

The dollar fell to 113.35 yen from 113.42 yen on Wednesday. The euro weakened to $1.1873 from $1.1879.

Major stock indexes in Europe closed higher Thursday. Germany's DAX rose 0.3 percent, while France's CAC 40 added 0.6 percent. The FTSE 100 index of leading British shares gained 1 percent. In Asia, Japan's benchmark Nikkei 225 fell 0.1 percent, and the Hang Seng in Hong Kong gained 0.5 percent.


----------



## bigdog

https://www.usnews.com/news/busines...reep-higher-tracking-wall-st-pre-holiday-lull

* Health Care and Bank Stocks Pull US Indexes Slightly Lower *
*Stocks finish lower Friday as health care companies and banks fall.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks finished slightly lower Friday in subdued trading ahead of a three-day holiday weekend. Health care companies and banks slipped.

President Donald Trump signed the Republican-backed tax bill into law, but for the fourth day in a row, stocks didn't move much. They had made strong gains in recent weeks as investors became more sure the $1.5 trillion package would pass.

High-dividend stocks made small gains even as bond yields remained near their recent highs. The price of bitcoin fell as much as 30 percent after making gigantic gains throughout the year.

The price of bitcoin was down about 8 percent in the late afternoon after trading in a gigantic range between $10,834 and $15,830 during the day, according to the tracking site CoinDesk.

"The bubble is really in the conversation about bitcoin at this point," said Brett Ewing, chief market strategist of First Franklin. "If you were to go out and talk to 100 people you know, all of them know about bitcoin ... but how many of them actually own it?"

The Standard & Poor's 500 index fell 1.23 points, or less than 0.1 percent, to 2,683.34. The Dow Jones industrial average lost 28.23 points, or 0.1 percent, to 24,754.06. The Nasdaq composite fell 5.40 points, or 0.1 percent, to 6,959.96.

The Russell 2000 index of smaller-company stocks dipped 4.18 points, or 0.3 percent, to 1,542.93. Those companies, which stand to benefit more than others from lower tax rates, outpaced the market this week.

Stocks are below the record highs they reached Monday but still finished higher for the fifth week in a row.

Markets will be closed Monday in observance of Christmas, and with just four days of trading left in 2017, stocks are on pace to finish every month of the year with gains, when dividends are included.


Nike slumped $1.48, or 2.3 percent, to $63.29. The company had a strong quarter overall, as its profit and sales both beat Wall Street projections. But Nike's North American business continued to struggle.

Bond prices were little changed. The yield on the 10-year Treasury note remained at 2.48 percent.

Banks took modest losses. They've done far better than the rest of the market as the tax bill has been at the forefront of investors' minds and interest rates have moved higher.

The S&P 1500 banking index, which tracks small, medium and large-sized banks, has soared 9 percent over the last month. The S&P 1500 is up about 3 percent over that time.

Papa John's founder John Schnatter will step down as the pizza chain's CEO next month, about two months after he criticized the NFL leadership over national anthem protests by players. The company did not say if the move was related to those comments, for which Schnatter later apologized.

Chief Operating Officer Steve Ritchie will become CEO on Jan. 1 while Schnatter, who appears in the chain's commercials and on its pizza boxes, remains chairman and the company's biggest shareholder. Papa John's stock shed $2.33, or 3.9 percent, to $56.90.

World Wrestling Entertainment dropped $2.32, or 7.3 percent, to $29.55 after the company disclosed that Chairman and CEO Vince McMahon sold 3.3 million shares to raise money for new investments in sports and entertainment, potentially including football. McMahon helped create the XFL, which lasted a single season in 2001. WWE said he plans to remain its chairman and CEO, and he remains its main shareholder.


Around 4:50 p.m. bitcoin had fallen 8 percent to $14,358, according to CoinDesk. It had soared close to $20,000 as of Sunday. Bitcoin futures on the Chicago Mercantile Exchange, which began trading on Monday, lost 7.8 percent to $14,135.

The losses, steep as they are, only bring the price of bitcoin back to where it was two weeks ago. It's still made huge gains this year, and was trading below $1,000 in January. Many economists and market watchers say bitcoin is in a speculative bubble that is ready to burst any time.

Benchmark U.S. crude rose 11 cents to $58.47 a barrel in New York. Brent crude, which is used to price international oils, rose 35 cents to $65.25 a barrel in London.

Wholesale gasoline picked up 1 cent to $1.76 a gallon. Heating oil rose 2 cents to $1.97 a gallon. Natural gas jumped 7 cents to $2.67 per 1,000 cubic feet.

Gold rose $8.20 to $1,278.80 an ounce. Silver climbed 21 cents to $16.44 an ounce. Copper gained 2 cents to $3.24 a pound.

The dollar fell to 113.31 yen from 113.35 yen. The euro fell to $1.1852 from $1.1873.

Spain's IBEX fell 1.2 percent after a group of pro-independence parties won a majority in elections to Parliament. The DAX in Germany fell 0.3 percent and the French CAC 40 lost 0.4 percent. In Britain the FTSE 100 slid 0.1 percent.

In Japan, the Nikkei 225 slid 0.7 percent. Hong Kong's Hang Seng index added 0.7 percent and the Kospi in South Korea climbed 0.4 percent.

8825


----------



## bigdog

*Major markets in Europe were closed for a holiday, *

*Markets in Hong Kong, Singapore, New Zealand and Australia were also closed for a holiday.*







https://www.usnews.com/news/busines.../asian-shares-mixed-in-post-christmas-trading

* US Stocks Finish Slightly Lower After Light Day of Trading *
*A listless day of trading on Wall Street ended with stocks closing slightly lower, weighed down by losses among some big technology companies.*

By ALEX VEIGA, AP Business Writer

A listless day of trading on Wall Street ended with major stock indexes closing slightly lower Tuesday, weighed down by losses among some big technology companies.

Apple slid 2.5 percent amid speculation that the consumer electronics giant might cut its targets for sales of its latest iPhone. Banks also declined, outweighing gains by energy companies and retailers. Oil prices closed higher.

Trading was light as investors returned from the Christmas holiday.

"It's a low-volume day after Christmas, with hardly anything going on," said Tom Martin, senior portfolio manager with Globalt Investments. "You have one piece of news that is significant on a major company, Apple. That moved some of the components around."

The Standard & Poor's 500 index fell 2.84 points, or 0.1 percent, to 2,680.50. The Dow Jones industrial average slid 7.85 points, or 0.03 percent, to 24,746.21. The Nasdaq lost 23.71 points, or 0.3 percent, to 6,936.25. The Russell 2000 index of smaller-company stocks picked up 1.30 points, or 0.1 percent, to 1,544.23.

Stocks had finished higher for five straight weeks heading into this week. They are on pace to finish every month this year with gains, when dividends are included.

The major indexes were slightly lower early on and veered little for the rest of the day. It was the lightest day of trading in about a year.

Technology companies pulled the market lower from the get-go, weighed down by chipmakers and Apple, among other big names.

Apple slid after a Taiwanese newspaper reported that the company may cut iPhone X sales targets amid weak sales. The stock declined $4.44 to $170.57.

Chipmaker Micron Technology lost $1.87, or 4.2 percent, to $42.25.


Despite the slide, technology remains the best-performing sector in the S&P 500 this year with a gain of 37.4 percent.

Energy companies posted the biggest gains Tuesday as oil prices rose. Range Resources gained 53 cents, or 3.2 percent, to $16.99.

Benchmark U.S. crude gained $1.50, or 2.6 percent, to settle at $59.97 on the New York Mercantile Exchange. Brent crude, which is used to price international oils, rose $1.77, or 2.7 percent, to close at $67.02 in London.

Investors also bid up shares in big retail stocks and consumer products companies. Kohl's jumped $3.21, or 6 percent, to $56.87, while Macy's added $1.18, or 4.6 percent, to $26.85.

Traders welcomed the latest corporate deal news.

Sucampo Pharmaceuticals climbed 5.9 percent after it agreed to be acquired by drugmaker Mallinckrodt for $839 million, or $18 a share. Sucampo makes a constipation drug called Amitiza and it had $230 million in total revenue last year. Sucampo added $1 to $18. Mallinckrodt picked up 16 cents to $23.48.

KLX surged 10 percent after the aerospace products and energy services company said it will consider options including a sale. The stock added $6.28 to $69.28.

In other energy futures trading, wholesale gasoline rose 2 cents to $1.79 a gallon. Heating oil added 7 cents to $2.04 a gallon. Natural gas fell 2 cents to $2.64 per 1,000 cubic feet.

Gold rose $8.70, or 0.7 percent, to $1,287.50 an ounce. Silver added 16 cents to $16.60 an ounce. Copper picked up 4 cents to $3.28 a pound.

Bond prices rose. The yield on the 10-year Treasury fell to 2.47 percent from 2.48 percent late Friday.

The dollar fell to 113.18 yen from 113.31 yen on Friday. The euro strengthened to $1.1867 from $1.1852.

The price of bitcoin rose 14.4 percent to $15,917 as of 4:45 p.m. ET, according to the tracking site CoinDesk. The price of the digital currency slumped as much as 30 percent on Friday. Bitcoin futures on the Cboe Futures Exchange rose 13.3 percent to settle at $15,810.


The futures contracts allow investors to make bets on the future price of bitcoin. The price of the digital currency has soared this year, having begun 2017 under $1,000. Many economists and market watchers believe bitcoin is in a speculative bubble that could burst any time.

Major markets in Europe were closed for a holiday. In Asia, markets were mixed in light trading. Tokyo's Nikkei 225 shed 0.2 percent, while Seoul's Kospi fell 0.5 percent and India's Sensex gained 0.2 percent. Shares in Taiwan and Singapore declined while Bangkok rose.

Markets in Hong Kong and Australia were also closed for a holiday.


----------



## bigdog

https://finance.yahoo.com/m/bb8f609b-a87b-30a0-aea0-7fe537ee23ba/ss_us-stock-indexes-eke-out.html

*US stock indexes eke out gains in quiet day on Wall Street*

U.S. stock indexes capped another quiet day on Wall Street Wednesday with slight gains, recouping some of the market's modest losses from a day earlier.

Technology, health care and industrials stocks accounted for much of the gain. A report showing that pending U.S. home sales inched higher last month helped lift homebuilder shares.

Retailers and consumer-goods manufacturers declined the most, following a late-afternoon slide. Energy stocks also fell along with the price of crude oil. Bond yields fell following a report showing U.S. consumer confidence dipped this month.

"Trading is obviously very light, but the market is certainly going out on a high as we head into the end of the year," said Erik Davidson, chief investment officer for Wells Fargo Private Bank.

The Standard & Poor's 500 index gained 2.12 points, or 0.1 percent, to 2,682.62. The Dow Jones industrial average added 28.09 points, or 0.1 percent, to 24,774.30. The Nasdaq rose 3.09 points, or 0.04 percent, to 6,939.34. The Russell 2000 index of smaller-company stocks lost 0.29 points, or 0.02 percent, to 1,543.94.

Wednesday was another quiet, post-holiday day for the markets, though a couple of economic reports helped drive some trades.

The National Association of Realtors said signed contracts to buy U.S. homes increased 0.2 percent in November. The report is a barometer of future purchases. Most homebuilder shares moved higher after the report. LGI Homes led the pack, climbing $2.47, or 3.4 percent, to $75.46.

Separately, the Conference Board said its latest consumer confidence index declined slightly this month, just missing analysts' forecasts. The decline in the index drove a pickup in bond purchases, sending prices higher. The yield on the 10-year Treasury slid to 2.41 percent from 2.48 percent late Tuesday.

"This is probably a little bit of an air pocket on light volume in terms of yields, but it is clearly being impacted by the somewhat softer number that we saw out of consumer confidence today," said Bill Northey, senior vice president at U.S. Bank Wealth Management.

Technology stocks were among the biggest gainers Wednesday. Qorvo was up the most, adding $1.36, or 2.1 percent, to $67.26.

Several health sector stocks also notched gains. Envision Healthcare picked up 82 cents, or 2.4 percent, to $34.56.

Shares in Macy's and other big retail chains declined a day after scoring gains on strong holiday season sales. Macy's slid $1.21, or 4.5 percent, to $25.64, while Kohl's lost $1.58, or 2.8 percent, to $55.29.

Callaway Golf tumbled 6.9 percent after the company said it invested another $20 million in entertainment company Topgolf, giving it a 14-percent stake. Callaway lost $1.04 to $14.02.

Benchmark U.S. crude dropped 33 cents to settle at $59.64 a barrel on the New York Mercantile Exchange. Brent crude, which is used to price international oils, slipped 58 cents to close at $66.44 per barrel in London.

The slide weighed on oil producers and other energy companies. Chesapeake Energy fell 12 cents, or 3 percent, to $3.88.

Gold added $3.90 to $1,291.40 an ounce. Silver gained 15 cents to $16.76 an ounce. Copper was little changed at $3.28 a pound.

The dollar rose to 113.26 yen from 113.18 yen on Tuesday. The euro strengthened to $1.1899 from $1.1867.

The price of bitcoin fell 3.9 percent to $15,125 as of 4:50 p.m. ET, according to the tracking site CoinDesk. Bitcoin futures on the Cboe Futures Exchange slid 5.5 percent to $14,945. The futures contracts allow investors to make bets on the future price of bitcoin.

In other energy futures trading, wholesale gasoline was little changed at $1.79 a gallon. Heating oil was flat at $2.04 a gallon. Natural gas rose 10 cents, or 3.6 percent, to $2.74 per 1,000 cubic feet.

Major stock indexes in Europe finished mostly higher. Germany's DAX was flat, while France's CAC 40 edged up 1 percent. Britain's FTSE 100 rose 0.4 percent.

Earlier in Asia, Japan's benchmark Nikkei 225 edged up nearly 0.1 percent, while Australia's S&P/ASX 200 was virtually unchanged. South Korea's Kospi added 0.4 percent. Hong Kong's Hang Seng inched 0.1 percent higher.


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## bigdog

http://www.houstonchronicle.com/new...xes-edge-higher-in-early-trading-12459320.php

*US stocks close higher in light trading; New high for Dow*
Alex Veiga, Ap Business Writer

U.S. stock indexes wrung out a modest gain during another quiet session on Wall Street Thursday, nudging the Dow Jones industrial average to a new high ahead of the final trading day of 2017.

Financial stocks accounted for much of the market's gains. The sector benefited from rising bond yields, which help banks because it enables them to charge higher interest rates on loans.

Some energy stocks got a boost from natural gas prices, which jumped nearly 7 percent as temperatures dropped across much of the U.S. Crude oil prices also closed higher.

Consumer-goods makers lagged the broad rally, which gave the market its second higher finish in a row. The stock market seldom declines this time of year, noted John Serrapere, director of research at Arrow Funds.

"It's a light, light, light calendar," Serrapere said. "Normally between Christmas and New Year's you get a positive, muted upslope in the markets."

The Standard & Poor's 500 index rose 4.92 points, or 0.2 percent, to 2,687.54. The Dow gained 63.21 points, or 0.3 percent, to 24,837.51. The 30-company average has closed at a record high 71 times this year.

The Nasdaq added 10.82 points, or 0.2 percent, to 6,950.16. The Russell 2000 index of smaller-company stocks picked up 4.99 points, or 0.3 percent, to 1,548.93, matching its most recent all-time high set early last week.

The S&P 500 and Nasdaq, meanwhile, are hovering just below their all-time highs. All the indexes are on track to end the 2017 with double-digit gains.

Bond prices fell as yields recovered partially from a big drop a day earlier. The yield on the 10-year Treasury rose to 2.43 percent from 2.41 percent late Wednesday.

That helped lift shares in banks and other financial companies. Northern Trust added $1.64, or 1.7 percent, to $100.32.

The price of natural gas rose sharply as an arctic blast gripped a large swath from the Midwest to the Northeast, sending temperatures plummeting. It climbed 18 cents, or 6.7 percent, to $2.91 per 1,000 cubic feet.

The increase gave some energy companies a boost. Chesapeake Energy was the biggest gainer in the S&P 500 index, climbing 16 cents, or 4.1 percent, to $4.04. Range Resources rose 65 cents, or 3.8 percent, to $17.61.

Netflix also contributed to the market's gains Thursday. The video-streaming service picked up $6.47, or 3.5 percent, to $192.71.

Several packaged food, beverage and other consumer-goods makers declined. Monster Beverage slid $1.31, or 2 percent, to $62.92.

Traders also sold off shares in companies that delivered unimpressive results or outlooks.

Calumet Specialty Products Partners tumbled 9 percent after the oil and solvents processor reported disappointing third-quarter results. The stock gave up 80 cents to $8.05.

Benchmark U.S. crude rose 20 cents to settle at $59.84 per barrel on the New York Mercantile Exchange. Brent crude, which is used to price international oils, gained 28 cents to $66.72 per barrel in London.

In other energy futures trading, wholesale gasoline was little changed at $1.79 a gallon. Heating oil inched up a penny to $2.05 a gallon.

Gold rose $5.80 to $1,297.20 an ounce. Silver added 17 cents, or 1 percent, to $16.92 an ounce. Copper climbed 2 cents, or 0.7 percent, to $3.31 a pound.

The dollar declined to 112.87 yen from 113.26 yen on Wednesday. The euro strengthened to $1.1952 from $1.1899.

The price of bitcoin declined for the second day in a row, sliding 9 percent to $13,995 as of 4:56 p.m. ET, according to the tracking site CoinDesk. Bitcoin futures on the Cboe Futures Exchange fell 8 percent to $13,755. South Korea's government announced additional measures Thursday to curb speculative trading of virtual currencies in the country, including a ban on opening anonymous accounts.

Major indexes in Europe closed mostly lower. Germany's DAX slipped 0.7 percent, while France's CAC 40, lost 0.6 percent. Britain's FTSE 100 inched up less than 0.1 percent, but the gain was enough for the index to close at a record high.

In Asia, Japan's Nikkei 225 erased earlier gains to finish 0.6 percent lower. South Korea's Kospi surged 1.3 percent after government data showed strong gains in retail sales and industrial output last month. Hong Kong's Hang Seng index rose 0.9 percent. In Australia, the S&P/ASX 200 added 0.3 percent.


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## bigdog

*HAPPY NEW YEAR AND MAY YOU ALL HAVE A PROSPEROUS 2018*

*Despite the downbeat end to the week, the U.S. stock market finished 2017 with its strongest year since 2013.*

*The Standard & Poor's 500 index, the broadest measure of the stock market, gained 19.4 percent for the year, more than double its gain in 2016. Including dividends, the total return was 22.5 percent, as of late Thursday.*

*The Dow Jones industrial average ended the year with a 25.1 percent gain, setting 71 all-time highs along the way.*

*The Nasdaq composite notched the biggest gain, an increase of 28.2 percent, while the Russell 2000 index of smaller-company stocks closed out 2017 with a gain of 13.1 percent.*

*Gold added $12.10, or 0.9 percent, to $1,309.30 an ounce for the day.*








https://www.usnews.com/news/busines...cks-drift-higher-on-final-trading-day-of-2017

* US Stocks Slide on Final Trading Day of 2017 *
*Wall Street capped 2017 with a loss, weighed down by a broad slide in light trading ahead of the New Year's holiday*

By ALEX VEIGA, AP Business Writer

Wall Street capped 2017 with a loss, weighed down by a broad slide in light trading ahead of the New Year's holiday.

Technology companies, banks and health care stocks accounted for much of the market's decline. Energy stocks also fell, even as the price of U.S. crude oil surged to its highest level in more than two years.

Despite the downbeat end to the week, the U.S. stock market finished 2017 with its strongest year since 2013.

The Standard & Poor's 500 index, the broadest measure of the stock market, gained 19.4 percent for the year, more than double its gain in 2016. Including dividends, the total return was 22.5 percent, as of late Thursday.

The Dow Jones industrial average ended the year with a 25.1 percent gain, setting 71 all-time highs along the way.

The Nasdaq composite notched the biggest gain, an increase of 28.2 percent, while the Russell 2000 index of smaller-company stocks closed out 2017 with a gain of 13.1 percent.

"It's been the year that surprised everybody," said J.J. Kinahan, chief market strategist at TD Ameritrade. "It was truly buy-on-the-dip, and that paid off better than anyone possibly expected."

On Friday, many investors opted to pocket some of their gains, especially in technology stocks, which led the market with a gain of 36.9 percent. Chipmaker KLA-Tencor was among the sector's big decliners, dropping $2.78, or 2.6 percent, to $105.07.

Traders also sold off health care and financials stocks, both of which rose 20 percent this year. Health care management company Centene fell $2.02, or 2 percent, to $100.88, while SunTrust Banks gave up 85 cents, or 1.3 percent, to $64.59.

"We've seen a little bit of a rotation from growth back to some of the more defensive names, so it's not surprising to see some ... redistribution to areas that generally haven't participated," said Eric Wiegand, senior portfolio manager for Private Wealth Management at U.S. Bank.

Friday's slide pulled the market lower for the week.

All told, the S&P 500 ended the day down 13.93 points, or 0.5 percent, to 2,673.61. The Dow dropped 118.29 points, or 0.5 percent, to 24,719.22. The Nasdaq fell 46.77 points, or 0.7 percent, to 6,903.39. The Russell 2000 index gave up 13.42 points, or 0.9 percent, to 1,535.51.

Oil and gas futures finished broadly higher Friday. Benchmark U.S. crude added 58 cents, or 1 percent, to settle at $60.42 per barrel on the New York Mercantile Exchange. That's the highest closing price of the year and the first time U.S. crude has finished above $60 a barrel since June 2015.

Brent crude, which is used to price international oils, gained 71 cents, or 1.1 percent, to $66.87 per barrel in London. The price of natural gas continued to rise in response to the harsh winter weather gripping a large swath of the U.S. It gained 4 cents, or 1.3 percent, to $2.95 per 1,000 cubic feet.

Despite the big gain in oil and gas prices, energy stocks were mixed. National Oilwell Varco rose 53 cents, or 1.5 percent, to $36.02, while Range Resources slid 55 cents, or 3.1 percent, to $17.06.

"Just like stocks right now, the futures have a pretty light volume," Kinahan said. "We need some real volumes for people to say, 'OK, this is real.'"

In other energy futures trading, wholesale gasoline rose a penny to $1.80 a gallon, while heating oil added 2 cents, or 1.1 percent, to $2.08 a gallon.

Gold added $12.10, or 0.9 percent, to $1,309.30 an ounce. Silver gained 22 cents to $17.15 an ounce. Copper slipped a penny to $3.30 a pound.

Bond prices rose. The yield on the 10-year Treasury fell to 2.41 percent from 2.43 percent late Thursday.

The dollar finished the year weaker for the first time since 2012. The ICE U.S. Dollar Index, which compares the value of the dollar to a basket of major currencies, declined nearly 10 percent this year, its biggest drop since 2003.

On Friday, the U.S. currency fell to 112.64 yen from 112.87 yen on Thursday. The euro strengthened to $1.2012 from $1.1952.

The price of bitcoin was down 1.1 percent to $14,263 as of 4:48 p.m. ET, according to the tracking site CoinDesk. Bitcoin futures on the Cboe Futures Exchange picked up 5.8 percent to $14,550. The virtual currency has been highly volatile in recent weeks, hitting a record high before sliding sharply last week.

Major stock indexes in Europe finished mixed Friday. Britain's FTSE 100 climbed 0.9 percent, hitting a record on the close of a shortened trading day. Germany's DAX and France's CAC 40 each declined 0.5 percent.

For 2017, Britain's notched a gain of 7.6 percent, while indexes in Germany and France closed the year with gains of 12.5 percent and 9.3 percent, respectively.

In Asia, most markets ended the day with modest gains. Japan's Nikkei 225 closed 0.1 percent lower, while Hong Kong's Hang Seng index gained 0.2 percent. For the year, the Nikkei posted a gain of 19.1 percent, while the Hang Seng finished with a gain of 36 percent.

9647


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## Joe Blow

bigdog said:


> *HAPPY NEW YEAR AND MAY YOU ALL HAVE A PROSPEROUS 2018*




Happy New Year to you too bigdog! I hope 2018 is a happy and prosperous year for you and your family. 

Thank you once again for keeping the ASF community updated on the U.S. markets for yet another year. Your tireless dedication to updating this thread on a daily basis is greatly appreciated.


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## bigdog

*Markets in Japan were closed for a holiday Jan 2.

The Nasdaq composite busted through another milestone as it closed above 7,000 points.

The Standard & Poor's 500 index rose 22.18 points, or 0.8 percent, to a record 2,695.79. 

The Russell 2000 index, which consists of smaller company stocks, gained 14.50 points, or 0.9 percent, to 1,550.51, also a new high.*






https://www.usnews.com/news/busines...n-markets-mostly-higher-as-2018-trading-opens

* US Stocks Ring in 2018 With Gains as Technology Leads Again *
*After strong gains in 2017, stocks get off to a positive start and set more records as technology and health care companies rise in the first day of trading in the new year.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Technology and health care companies jumped Tuesday as U.S. stocks started the new year the same way they spent the last one: rising steadily and setting records. Energy companies, which struggled in 2017, also climbed.

Asian markets rose after surveys in China and India showed continued manufacturing growth in the world's most populous countries. U.S. stocks followed suit as investors snapped up shares of companies that should benefit from faster economic growth, including technology, health care and materials companies, just as they did last year. The Nasdaq composite busted through another milestone as it closed above 7,000 points.

"We'll continue to see many of the themes from last year play out," said Kate Warne, an investment strategist for Edward Jones.

She said the global economy should keep growing and businesses and consumers around the world will continue to spend more money. It helps that interest rates are low, and governments in areas that reduced their spending during the Great Recession are becoming more willing to spend.

The Standard & Poor's 500 index rose 22.18 points, or 0.8 percent, to a record 2,695.79. The Dow Jones industrial average climbed 104.79 points, or 0.4 percent, to 24,824.01. The Nasdaq composite jumped 103.51 points, or 1.5 percent, to 7,006.90. The Russell 2000 index, which consists of smaller company stocks, gained 14.50 points, or 0.9 percent, to 1,550.51, also a new high.

The Nasdaq had its best opening day since 2013 as the big technology companies that dominated in 2017 got the new year off to a good start. Facebook rose $4.96, or 2.8 percent, to $181.42 and Apple climbed $3.03, or 1.8 percent, to $172.26. Chipmaker Nvidia climbed $5.85, or 3 percent, to $199.35.

Drug and medical device companies led the health care sector higher. Hepatitis C and HIV drug maker Gilead Sciences gained $2.46, or 3.4 percent, to $74.10. Abbott Laboratories, which sells medications, infant formula and medical devices, picked up $1.72, or 3 percent, to $58.79 and Baxter International gained $2.53, or 3.9 percent, to $67.17.

Retailers also rose. That included Amazon, which added $19.54, or 1.7 percent, to $1,189.01. Retailers that struggled last year, including big box and department stores, also fared well. Target rose $2.38, or 3.9 percent, to $67.63 while Kohl's picked up $2.12, or 3.9 percent, to $56.35. Early indications suggest shoppers had a busy holiday season and investors will look for confirmation of those reports in the weeks to come.

Bond prices slid. The yield on the 10-year Treasury note rose to 2.46 percent from 2.41 percent. The yield on 2-year note rose to 1.92 percent from 1.89 percent.

The increase in bond yields sent high-dividend stocks like utilities, household goods makers and real estate companies lower. Higher bond yields make those stocks less appealing to investors seeking income.

Investors bet that the markets will stay calm, too. The VIX, a measurement of how much volatility investors expect, moved sharply lower. It's been at historic lows since April.

Weight Watchers International climbed after it struck a deal with producer and recording artist DJ Khaled, who will represent the brand to millions of followers on Snapchat, Twitter, Instagram and Facebook. Weight Watchers got a big boost a few years ago from a deal with Oprah Winfrey that also included a substantial investment in the company. Its stock added $3.55, or 8 percent, to $47.83.

Bitcoin rose after the Wall Street Journal reported that the venture capital firm Founders Fund, co-founded by Peter Thiel, bought around $15 million in bitcoin in mid-2017. The report cited anonymous sources. The digital currency rose 11.1 percent to $14,901, according to Coindesk. Thiel did not immediately respond to request for comment.

Benchmark U.S. crude fell 5 cents to $60.37 a barrel in New York. Brent crude, used to price international oils, fell 30 cents to $66.57 barrel in London. A rally late in the year sent crude oil to its highest price since June 2015.

Natural gas futures climbed 10 cents, or 3.5 percent, to $3.06 per 1,000 cubic feet. Natural gas is mostly used to heat homes and demand often rises in frigid weather.

Wholesale gasoline fell 3 cents to $1.76 a gallon. Heating oil declined 1 cent to $2.06 a gallon.

Gold rose $6.80 to $1,316.10 an ounce. Silver rose 6 cents to $17.21 an ounce. Copper lost 2 cents to $3.28 a pound.

The dollar fell to 112.27 yen from 112.64 yen. The euro rose to $1.2055 from $1.2012. The dollar slipped steadily in 2017. The improved global economy was responsible for much of that decline, however, and the weaker dollar makes U.S. exports less expensive in other markets.

Germany's DAX fell 0.4 percent and France's CAC 40 shed 0.5 percent. The British FTSE 100 retreated 0.5 percent.

The Hang Seng in Hong Kong gained 2 percent to and Seoul's Kospi gained 0.5 percent. Markets in Japan were closed for a holiday.


----------



## bigdog

*Markets in Japan were closed for New Year holidays but reopen on Thursday.
*






https://www.usnews.com/news/busines...y-data-wall-st-gains-boost-asian-share-prices

* Technology, Energy Help Stocks Sustain Strong Start to 2018 *
*US stocks rise further Wednesday as technology companies including Oracle and Nvidia keep climbing.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Big gains for technology and health care companies helped U.S. stocks set records again Wednesday. Rising crude and heating oil prices also sent energy companies higher.

Chipmakers including Nvidia and Advanced Micro Devices made big gains while Intel skidded following news that its processors have a security flaw that could slow down computers. Energy company Scana, which plunged after it canceled a $9 billion nuclear project and started raising rates to cover its costs, jumped after Dominion Energy agreed to buy it for $7.9 billion in stock.

Energy companies jumped for the second day in a row as oil prices, already at two-and-a-half-year highs, rose again. One reason is that after a pipeline bombing in Libya last month and ongoing anti-government protests in Iran, investors are concerned that oil supplies will get interrupted.

"Something that's coming back into the market which we've been missing over the last few years is this geopolitical risk premium," said Nick Koutsoftas, portfolio manager at Cohen & Steers. Investors didn't worry that much about those risks in recent years because big stockpiles of oil had built up. Those stockpiles are shrinking now, which has helped oil prices but also made them more vulnerable to surprises.

The Standard & Poor's 500 index rose 17.25 points, or 0.6 percent, to 2,713.06. The Dow Jones industrial average added 98.67 points, or 0.4 percent, to 24,922.68. The Nasdaq composite climbed 58.63 points, or 0.8 percent, to 7,065.53. The Russell 2000 index of smaller-company stocks gained 2.56 points, or 0.2 percent, 1,552.58. All four finished at record highs.

Benchmark U.S. crude added $1.26, or 2.1 percent, to $61.63 a barrel in New York. Brent crude, used to price international oils, picked up $1.27, or 1.8 percent, to $67.84 a barrel in London.

Heating oil and natural gas prices have also climbed as severe cold gripped much of the U.S. Heating oil rose 3 cents to $2.09 a gallon, and it's up 12 cents since Dec. 22. Natural gas slid 5 cents to $3.01 per 1,000 cubic feet, and it's up 34 cents over that time.

In other commodities trading, wholesale gasoline added 3 cents to $1.80 a gallon.

Technology companies rose further. Chipmaker Nvidia gained $13.12, or 6.6 percent, to $212.47. Alphabet, Google's parent company, climbed $18.31, or 1.7 percent, to $1,091.52. IBM added $4.24, or 2.7 percent, to $158.49.

Intel slumped after British technology site The Register reported a security problem that affects Intel's processors, and said fixing the problem could slow down computers that use them. Intel said it's working to patch the problem and the average computer user won't experience a significant slowdown as the flaw is fixed. It also said the problem is not limited to its products.

Its stock lost $1.59, or 3.4 percent, to $45.26 in the highest trading volume in more than four years. Other chipmakers traded higher, but analysts weren't sure the problem could threaten Intel's sales

Dominion Energy agreed to buy Scana in a deal that expands the Richmond, Virginia-based company's business in the Carolinas. Dominion Energy is valuing the deal at about $7.9 billion plus $6.7 billion in debt. Scana soared $8.78, or 22.6 percent, to $47.65 and Dominion dropped $3.09, or 3.8 percent, to $77.19.

Scana traded above $70 a share in June but plunged after Scana and partner Santee Cooper said they were abandoning construction of two nuclear reactors. They blamed the project failure on the bankruptcy of contractor Westinghouse. The end of the project and Scana's rate hikes led to harsh criticism and multiple government investigations, and the heads of both Scana and Santee Cooper both stepped down.

Money transfer company MoneyGram International plunged $1.20, or 9 percent, to $12.11 after U.S. regulators blocked the sale of the company to Ant Financial Services Group. It's not clear why the $1.2 billion deal was rejected by the Committee on Foreign Investment in the United States, which reviews proposed foreign acquisitions of U.S. companies on national security grounds. Ant Financial is linked to Alibaba and its chairman, Jack Ma.

Consumer products company Spectrum Brands said it will try to sell its batteries and appliances businesses. Spectrum, which makes Rayovac and Kwikset, wants to concentrate on its other divisions: hardware and home improvement, global auto care, global pet supplies and home and garden. The stock climbed $9.58, or 8.8 percent, to $118.94.

Bond prices rose after a sharp drop the day before. The yield on the 10-year Treasury note fell to 2.45 percent from 2.46 percent.

Gold inched up $2.40 to $1,318.50 an ounce. Silver added 6 cents to $17.27 an ounce. Copper slipped 2 cents to $3.26 a pound.

The dollar rose to 112.52 yen from 112.27 yen. The euro dipped to $1.2018 from $1.2055.

Germany's DAX added 0.8 percent and so did the French CAC 40. In Britain the FTSE 100 rose 0.3 percent. Hong Kong's Hang Seng index picked up 0.1 percent and South Korea's Kospi added 0.3 percent. Markets in Japan were closed for New Year holidays but reopen on Thursday.


----------



## bigdog

*Dow Jones Industrials Climb Above 25,000 for the First Time just five weeks after its first close above 24,000.*






https://www.usnews.com/news/busines...asian-shares-higher-buoyed-by-wall-st-records

* Dow Jones Industrials Climb Above 25,000 for the First Time *
*The Dow Jones industrial average burst through the 25,000-point mark Thursday, just five weeks after its first close above 24,000.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — The Dow Jones industrial average burst through the 25,000 point mark Thursday, just five weeks after its first close above 24,000.

The Dow passed five 1,000-point barriers in 2017 on its way to a 25 percent gain for the year, as an eight-year rally since the Great Recession continued to confound skeptics.

Strong global economic growth and good prospects for higher company earnings have analysts predicting more gains, although the market may not stay as calm as it has been recently.

The Dow has made a rapid trip from 24,000 points on November 30, partly on enthusiasm over passage of the Republican-backed tax package, which could boost company profits this year with across-the-board cuts to corporate taxes.

"For a long while in 2017 I would say the biggest driver was excitement and anticipation over tax reform, but at a certain point I think there was a handover to global economic growth really helping to carry the stock market," said Invesco Chief Global Markets Strategist Kristina Hooper.

Big gains in U.S. blue chip companies have powered the Dow's relentless rise to new heights over the past year, including an 87 percent gain in aerospace giant Boeing, a 70 percent rise in construction equipment maker Caterpillar and a 49 percent increase in Apple.

The Dow, which was founded in 1896 and is the oldest barometer of the U.S. stock market, has nearly quadrupled in value from its low during the financial crisis in early 2009. But the global economy and spending by people and businesses and governments were much slower to recover than stocks were.

"Instead of fiscal stimulus, we relied on monetary policy stimulus, which inflates asset prices as opposed to the overall economy," Hooper said. Stocks have continued to climb as investors saw signs economic growth was finally improving.

Technology companies, which put up some of the biggest gains in the last year, continued to lead the market higher. And there was more good economic news Thursday: A report showed private U.S. businesses added 250,000 jobs last month, with smaller businesses adding 94,000.

The Dow, which tracks 30 big U.S. companies, rose 152.45 points, or 0.6 percent, to 25,075.13.

The Standard & Poor's 500, a much broader index that professional investors prefer to use as their benchmark for large U.S. stocks, rose 10.93 points, or 0.4 percent, to 2,723.99.

The Nasdaq composite, which is heavily weighted with technology and biotech companies, added 12.38 points, or 0.2 percent, to 7,077.91. All three indexes set record highs a day earlier.

The Nasdaq reached a milestone of its own this week, closing above 7,000 points for the first time Tuesday.

Indexes in some developing countries have done even better than those in Europe and the U.S over the past year. Brazil's benchmark Bovespa is up 28 percent over the past year and the Hang Seng index in Hong Kong is up 39 percent.

Bond prices fell, sending yields higher. The yield on the 10-year Treasury note rose to 2.45 percent from 2.44 percent. Higher bond yields are good news for banks because they can charge higher interest rates on mortgages and other kinds of loans.

President Donald Trump said Thursday that the Dow could reach 30,000, which would take another 20-percent jump. Few on Wall Street expect stocks to climb that much any time soon. Stocks already did far better than most observers expected last year, and corporate earnings aren't rising fast enough to justify that kind of climb.

It wasn't all rosy Thursday. Intel continued to stumble after security researchers at Google and a group of academic institutions discovered serious security flaws in its computer processors. It lost 83 cents, or 1.8 percent, to $44.43 after a 3.4 percent decline Wednesday. Intel said it's working to fix the problem and that it's not the only company affected.

Benchmark U.S. crude rose 38 cents to $62.01 a barrel in New York. Brent crude, used to price international oils, added 23 cents to $68.07 a barrel in London.

France's CAC 40 leaped 1.5 percent and so did Germany's DAX. In Britain the FTSE 100 edged 0.3 percent higher. Japan's Nikkei 225 rose 3.3 percent on the first trading day of the year. South Korea's Kospi lost 0.8 percent while Hong Kong's Hang Seng added 0.5 percent.

In other commodities trading, wholesale gasoline rose 1 cent to $1.81 a gallon. Heating oil fell 1 cent to $2.08 a gallon. Natural gas plunged 13 cents, or 4.3 percent, to $2.88 per 1,000 cubic feet.

Gold rose $3.10 to $1,321.60 an ounce and silver remained at $17.27 an ounce. Copper edged up 1 cent to $3.26 a pound.

The dollar rose to 112.74 yen from 112.52 yen. The euro climbed to $1.2072 from $1.2018.


----------



## bigdog

https://www.usnews.com/news/busines...ain-as-dow-breaks-record-koreas-agree-to-talk

* Tech Stocks Climb for Fourth Day as New Year Rally Continues *
*US stocks rise for the fourth day in a row as the government's December jobs report shows strong hiring in manufacturing and construction and an increase in factory orders.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — After another solid monthly jobs report, technology companies again led the way as U.S. stocks rose for the fourth day in a row to start 2018. They are on their longest new-year winning streak in eight years.

The Labor Department said employers added 148,000 jobs in December. That was a bit less than experts expected, but still underscored the continued health of the economy. Wages grew and factory managers received more new orders than in any month since 2004. Health care and consumer-focused companies also rose, and the weaker dollar gave industrial firms like Boeing and basic materials makers a lift.

Wages and worker productivity are rising at about the same rate, according to Ed Keon, managing director and portfolio manager of QMA, a fund manager owned by Prudential Financial. He said if that trend continues, company profits should stay solid and inflation won't be much of a risk to the economy.

Productivity growth has been weak in recent years, but it jumped 3 percent in the third quarter. Keon said new technologies may now be helping businesses in a bigger way.

"It's possible that we're on the verge of a new productivity revolution," he said. "If we are, that's good news for wages, it's good news for profits, it's good news for economic growth, and it's good news for the stock market."

The Standard & Poor's 500 index gained 19.16 points, or 0.7 percent, to 2,743.15, and rose 2.6 percent for the week. The Dow Jones industrial average added 220.74 points, or 0.9 percent, to 25,295.87. The Nasdaq composite rose 58.64 points, or 0.8 percent, to 7,136.56. The Russell 2000 index of smaller-company stocks rose 4.29 point, or 0.3 percent, to 1,560.01.

The Dow industrials closed above 25,000 points for the first time Thursday and the Nasdaq breached 7,000 points earlier in the week.

The last time stocks rose for at least four consecutive days to start a new year was in 2010, when the S&P 500 finished higher for six days in a row. It rose 1.9 percent over that run.

While job growth has slowed somewhat with the economy close to full employment, solid economic growth in both the U.S. and major countries overseas is still supporting more hiring.

Apple gained $1.97, or 1.1 percent, to $175 and Alphabet, Google's parent company, picked up $14.53, or 1.3 percent, to $1,110.29. Chipmaker Xilinx jumped $3.66, or 5.2 percent, to $74.15 and eBay added $1.12, or 2.9 percent, to $39.69.

Consumer-focused and health care companies also stand to benefit from sustained economic growth. Amazon climbed $19.55, or 1.6 percent, to $1,229.14. Netflix advanced $4.36, or 2.1 percent, to $209.99. Used car retailer CarMax edged up $2.79, or 4.1 percent, to $71.04.

Among health care companies, Align Technology, which doubled last year, surged $7.77, or 3.3 percent, to $241.07 and contact lens and surgical products maker Cooper Companies gained $6.95, or 3.1 percent, to $230.50.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.47 percent from 2.45 percent. The yield on the 2-year note rose to 1.96 percent from 1.95 percent.

With the holiday season in the rearview mirror, companies began to report their most recent results. Wine, liquor and beer maker Constellation Brands fell $5.91, or 2.6 percent, to $219.88 after its third-quarter report disappointed investors. Retailer Francesca's plunged $1.55, or 20.7 percent, to $5.95 after it said it struggled over the holidays as fewer people came to stores and its shoppers spent less. It cut its profit and sales forecasts.

Barnes & Noble fell to its lowest price since 1994 after the bookseller said its sales slumped over the holidays. The struggles weren't limited to its physical stores as online sales dropped 4.5 percent. That's partly because Amazon continues to win over more and more people to its Prime membership program. Barnes & Noble sank 90 cents, or 13.8 percent, to $5.60.

Benchmark U.S. crude lost 57 cents to $61.44 a barrel in New York. Brent crude, used to price international oils, fell 45 cents to $67.62 per barrel in London.

Wholesale gasoline slid 2 cents to $1.79 a gallon. Heating oil declined 2 cents to $2.06 a gallon. Natural gas tumbled 9 cents, or 3 percent, to $2.80 per 1,000 cubic feet.

Gold rose 70 cents to $1,322.30 an ounce and silver picked up 2 cents to $17.29 an ounce. Copper slipped 3 cents to $3.23 a pound.

The dollar rose to 113.14 yen from 112.74 yen. The euro slipped to $1.2050 from $1.2072.

Germany's DAX gained 1.2 percent and the CAC 40 of France added 1.1 percent. The FTSE 100 in Britain rose 0.4 percent. South Korea's Kospi jumped 1.3 percent after North and South Korea agreed to hold their first official dialogue in more than two years next week to discuss ways to cooperate on the upcoming Winter Olympics in the South. Earlier, the United States and South Korea agreed to delay annual joint military exercises until after the Games, which will be held in February. Japan's Nikkei 225 rose 0.9 percent and the Hang Seng in Hong Kong climbed 0.3 percent.

0517


----------



## bigdog

https://www.usnews.com/news/busines...ian-stocks-rise-after-strong-wall-street-week

* Stocks Erase Morning Losses, Continuing Strong Start to Year *
*U.S. stock indexes ticked higher and added to their record run after erasing a short-lived bout of weakness.*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — The stock market's perfect start to the year rolled on, and the Standard & Poor's 500 index shook off a bit of weakness on Monday to tick further into record territory.

Stocks had dipped in early trading, and the S&P 500 appeared to be on pace for its first down day of the year. But accelerating gains for dividend-paying and technology stocks helped offset losses in the health care industry, and the S&P 500 eked out a fifth straight gain. Other U.S. indexes edged higher or held close to their record levels.

"We're getting a bit tired hearing ourselves talking about the solid economic backdrop and strong earnings growth, but that is the backdrop," said Jon Adams, senior investment strategist for BMO Global Asset Management.

He is optimistic that stocks can continue to rise from their record levels due to the trends, even though the market is more expensive than it usually is relative to corporate profits. "Everyone is talking about the synchronized economic growth" around the world, he said, "but it's something we haven't seen for 10 years."

The S&P 500 rose 4.56 points, or 0.2 percent, to 2,747.71. The last time the index led off a year with more consecutive gains was in 2010, when it had six.

The Dow Jones industrial average slipped 12.87, or 0.1 percent, to 25,283.00, the Nasdaq composite rose 20.83, or 0.3 percent, to 7,157.39 and the Russell 2000 index of small-cap stocks gained 1.80, or 0.1 percent, to 1,561.81.

One of the biggest gains in the S&P 500 came from Kohl's, which jumped after it raised its earnings forecast for the year. The retailer said its sales climbed nearly 7 percent in November and December from a year earlier, and its new profit forecast easily topped Wall Street's expectations.

Kohl's rose $2.54, or 4.7 percent, to $56.90.

High-dividend stocks were also strong, with utilities up 0.9 percent for the biggest gain of the 11 sectors that make up the S&P 500. They got help from falling Treasury yields, which make dividends more attractive for investors seeking income. The yield on the 10-year Treasury dipped to 2.47 percent from 2.48 percent late Friday.

On the losing end for stocks was GoPro, which plunged after it said its revenue fell sharply last quarter. The company had to slash prices on cameras to drive more sales, and it reported preliminary fourth-quarter revenue that fell far short of Wall Street's expectations.

The stock lost 96 cents, or 12.8 percent, to $6.56. GoPro also said it will cut more than 20 percent of its workforce.

Earnings are one of the best predictors for long-term performance of stocks, and a deluge of companies is set to begin reporting their results for the last three months of 2017. The pace will pick up later this week, and analysts and investors will likely be most focused on what CEOs say about their expectations for future earnings.

That's because Wall Street is looking for profits to rise even higher after Washington approved cuts in corporate tax rates last month. The overhaul of the tax system may help some areas of the market more than others, and investors want to see how much companies will raise their forecasts. Stocks tend to track the trend of corporate profits more than anything else over the long term.

In overseas trading, South Korea's Kospi index rose 0.6 percent, and the Hang Seng in Hong Kong gained 0.3 percent.

In Europe, France's CAC 40 rose 0.3 percent, and Germany's DAX was up 0.4 percent. The FTSE 100 in London dropped 0.4 percent.

The dollar slipped to 113.07 Japanese yen from 113.14 yen late Friday. The euro fell to $1.1965 from $1.2050, and the British pound edged down to $1.3564 from $1.3565.

Benchmark U.S. crude rose 29 cents to settle at $61.73 per barrel. Brent crude, the international standard, gained 16 cents to settle at $67.78 per barrel.

Natural gas rose 4 cents to $2.84 per 1,000 cubic feet, heating oil fell 1 cent to $2.05 per gallon and wholesale gasoline added 1 cent to $1.79 per gallon.

Gold fell $1.90 to $1,320.40 per ounce, silver lost 14 cents to $17.14 per ounce and copper dipped a penny to $3.22 per pound.


----------



## bigdog

https://www.usnews.com/news/busines...an-shares-mostly-rise-on-wall-street-optimism

* S&P 500 Keeps Climbing as Calm Continues to Reign for Stocks *
*Stocks around the world keep climbing in the new year, and the Standard & Poor's 500 index added to its record high.*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Stocks pushed further into record territory Tuesday, and the Standard & Poor's 500 index's immaculate start to the year extended to a sixth day.

Health care stocks and banks led the way, as calm continues to reign over markets around the world. The strong gains overshadowed weakness for dividend-paying stocks and other areas of the market hurt by rising interest rates after 10-year Treasury yields hit their highest level since March.

The S&P 500 rose 3.58 points, or 0.1 percent, to 2,751.29 to equal its longest winning streak leading off a year since 2010.

The Dow Jones industrial average rose 102.80 points, or 0.4 percent, to 25,385.80, the Nasdaq composite gained 6.19 points, or 0.1 percent, to 7,163.58 and the Russell 2000 index of small-cap stocks slipped 1.71, or 0.1 percent, to 1,560.10.

They're the latest steps higher for stocks, which have been rising at a remarkably steady pace for more than a year as investors bask in a global economy that's strengthening in sync. Corporate profits are also on the upswing, and Washington's recently approved tax cut should goose earnings even higher.

The powerful combination has kept markets marching higher, even though stock prices have grown to become more expensive than usual, relative to corporate profits.

"I would like to say that there's something onerous coming, just because it would be different from what everyone is talking about," said Nate Thooft, senior portfolio manager at Manulife Asset Management. But he expects the market to continue gliding higher as the economy and corporate profits strengthen.

Health care stocks rose 1.1 percent for the biggest gain among the 11 sectors that make up the S&P 500.

Boston Scientific was at the front of the pack after it gave preliminary results for its revenue last quarter that were stronger than Wall Street was expecting. The medical device company's shares rose $2.15, or 8.3 percent, to $27.96.

Illumina likewise reported preliminary results for fourth-quarter revenue that topped analysts' expectations. Shares of the company, which makes tools for genetic analysis, jumped $15.74, or 6.9 percent, to $242.80.

Companies are set to begin reporting their results for the last three months of 2017, and the pace will pick up later this week. They'll need to deliver strong profit growth to justify the big moves they've made already.

Investors, though, are also interested in what CEOs say about how Washington's overhaul of the tax system last month will affect their bottom lines.

Strategists at Goldman Sachs say the tax changes will account for more than a third of the 14 percent growth they're forecasting for S&P 500 earnings per share in 2018.

Target cited taxes on Tuesday as one reason for raising its profit forecast for the year. It also became the latest retailer to say it enjoyed a strong holiday season, and its shares rose $1.96, or 2.9 percent, to $69.14.

On the losing end of the market were stocks that pay big dividends, which tend to move in the opposite direction of bond yields.

The yield on the 10-year Treasury note rose to 2.55 percent from 2.48 percent late Monday. That makes dividend-paying stocks less attractive relative to bonds for investors seeking income.

Telecom stocks in the S&P 500 fell 1.8 percent for the worst performance in the index. Real-estate stocks lost 1.1 percent, and utilities dropped 1 percent.

Some areas of the market can benefit from rising interest rates. Banks can make bigger profits from making loans, for example, and financial stocks in the S&P 500 climbed 0.7 percent.

In markets abroad, Japan's Nikkei 225 added 0.6 percent, Hong Kong's Hang Seng rose 0.4 percent and the Shanghai Composite inched up 0.1 percent. South Korea's Kospi lost 0.1 percent.

The CAC 40 in France rose 0.7 percent, the DAX in Germany rose 0.1 percent and the FTSE 100 in London gained 0.4 percent.

The dollar fell to 112.61 Japanese yen from 113.07 yen late Monday. The euro fell to $1.1933 from $1.1965, and the British pound dipped to $1.3534 from $1.3564.

Benchmark U.S. crude oil rose $1.23 to settle at $62.96 per barrel. Brent crude, the international standard, rose $1.04 to settle at $68.82 per barrel.

Natural gas gained 9 cents to $2.92 per 1,000 cubic feet, heating oil rose 2 cents to $2.07 per gallon and wholesale gasoline climbed 4 cents to $1.84 per gallon.

Gold fell $6.70 to settle at $1,313.70 per ounce, silver dropped 13 cents to $17.01 per ounce and copper slipped a penny to $3.22 per pound.


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## bigdog

https://www.usnews.com/news/busines...rices-mostly-lower-as-wall-street-rally-fades

* Perfect Start for Stocks in 2018 Stalls After Rates Rise *
*The stock market's fantastic start to 2018 stalled out on Wednesday after interest rates climbed even further.*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — The stock market's fantastic start to 2018 stalled on Wednesday after real-estate companies and other dividend payers sank on concerns about rising interest rates.

The losses knocked indexes a bit off their record highs and provided the first minor hiccup for a market that had climbed six straight days to start the year. Stocks fell after the yield on the 10-year Treasury reached its highest level since March, but they ended up recovering most of their losses as the day progressed and rates pulled back.

The Standard & Poor's 500 index fell 3.06 points, or 0.1 percent, to 2,748.23 after being down as much as 0.6 percent in the morning. The loss snapped the index's longest winning streak to start a year since 2010.

The Dow Jones industrial average dropped 16.67, or 0.1 percent, to 25,369.13, the Nasdaq composite fell 10.01, or 0.1 percent, to 7,153.57 and the Russell 2000 index of small-cap stocks slipped 0.30 points, or less than 0.1 percent, to 1,559.80.

"Last year was an investor's dream and a nightmare" for short-term traders because of how calm and strong the market was, said Kirk Hartman, global chief investment officer for Wells Fargo Asset Management. "I think this is going to be a better year for traders because you're going to get some volatility."

That's in part because he expects interest rates to climb as the government's need to borrow rises and as the Federal Reserve increases rates and pulls back from bond purchases it made to aid the economy.

Low interest rates have been one of the main propellants for the stock market's calm rise to records. They make borrowing easier for companies and people, which greases the skids for economic growth. Low rates also make bonds less attractive, which pushes investors into stocks.

Investors have long been preparing for a gradual increase in bond yields, and Hartman said stocks can keep climbing as long as rates do rise at a measured pace. But a sudden or sharp jump in rates could easily upset markets.

The yield on the 10-year Treasury went as high as 2.59 percent in the morning before falling back to 2.55 percent, the same level it was at late Tuesday. That's up from 2.40 percent at the start of the year.

A report from Bloomberg News said that China is considering a slowdown or halt to its purchases of Treasurys, which helped push rates higher. Investors are also speculating about whether Japan's central bank will slow its bond purchases to keep rates low.

The rise in rates sent companies that pay big dividends to the biggest losses. Real estate, utility and telecom stocks tend to move in the opposite direction of interest rates because higher bond yields can lure away investors seeking income.

Real-estate stocks fell 1.5 percent for the sharpest loss of the 11 sectors in the S&P 500. Utilities lost 1.1 percent, and telecoms fell 0.9 percent.

On the opposite end were banks, which can make bigger profits from loans when interest rates rise. Financial stocks in the S&P 500 rose 0.8 percent.

United Continental jumped to the biggest gain in the S&P 500 after the airline said a key revenue trend last quarter was better than it had earlier forecast. It credited stronger demand and fares. United rose $4.60, or 6.7 percent, to $73.08.

Signet Jewelers had the largest loss of the S&P 500 after it reported weaker sales for the holiday season than a year earlier. Signet dropped $3.90, or 6.9 percent, to $52.69.

The dollar fell to 111.35 Japanese yen from 112.61 yen late Tuesday. The euro rose to $1.1957 from $1.1933, and the British pound fell to $1.3519 from $1.3534.

In the commodities markets, gold rose $5.60 to settle at $1,319.30 per ounce, silver added 3 cents to $17.04 per ounce and copper gained 2 cents to $3.24 per pound.

Benchmark U.S. crude added 61 cents to settle at $63.57 per barrel. Brent crude, the international standard, gained 38 cents to $69.20 a barrel.

In overseas stock markets, Japan's Nikkei 225 index fell 0.3 percent, South Korea's Kospi lost 0.4 percent and the Hang Seng in Hong Kong added 0.2 percent.

France's CAC 40 fell 0.3 percent, the FTSE 100 in London added 0.2 percent and Germany's DAX lost 0.8 percent.


----------



## bigdog

https://www.usnews.com/news/busines...-shares-mixed-after-wall-street-rally-fizzles

* US Stocks Brush off Year's First Wobble, Return to Records *
*Global stock markets stabilize after China-led wobble, oil prices rise.*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks brushed aside their first wobble of the year and got back to setting records on Thursday. Energy stocks led the way after the price of oil touched its highest level since 2014.

The gains for indexes marked a return to calm, after a whiff of nervousness wafted through markets a day earlier as interest rates rose. After rates held steady on Thursday, the Standard & Poor's 500 index marked its seventh gain in the last eight days.

The S&P 500 rose 19.33 points, or 0.7 percent, to a record 2,767.56. The Dow Jones industrial average rose 205.60 points, or 0.8 percent, to 25,574.73, the Nasdaq composite gained 58.21 points, or 0.8 percent, to 7,211.78 and the Russell 2000 index of small-cap stocks surged 26.99 points, or 1.7 percent, to 1,586.79.

Optimism about a strengthening global economy and growing corporate profits have helped propel markets even though stocks have become more expensive than they've historically been relative to earnings.

The market's smooth ride upward hit a bump Wednesday when worries rose that a jump in interest rates could derail the ascent. Rates have been ultra-low since the Great Recession, a culmination of a decline in bond yields over the last three-plus decades.

"Everyone's on edge about waiting for what's to come," even though central banks have promised to take a slow path toward higher rates, said Marina Severinovsky, investment strategist at Schroders.

"There shouldn't be a falling-off-the-cliff mentality, but we're so primed," she said. "We're 30 years into this, waiting for the trigger."

Rates retreated on Thursday after China's foreign exchange regulator challenged a report that had helped drive up yields, which said China may slow or halt purchases of U.S. Treasurys. A U.S. government report on Thursday also showed that inflation was weaker on the wholesale level last month than economists expected.

The yield on the 10-year Treasury note dipped to 2.53 percent from 2.56 percent late Wednesday. It had climbed as high as 2.59 percent on Wednesday.

While a quick jump in rates could easily jolt markets out of the calm ride they've been on, investors say markets are prepared for a gradual rise.

"We're all anticipating rising rates, and have been for some time," Severinovsky said. "Given where global growth is, we should have higher rates than we do today."

Energy stocks were the day's biggest stars after the price of oil touched its highest price in more than three years. Benchmark U.S. crude gained 23 cents to settle at $63.80 per barrel after earlier climbing as high as $64.77. Brent crude, the international standard, gained 6 cents to $69.26 per barrel.

That helped drive energy stocks in the S&P 500 to a 2 percent gain, the largest among the 11 sectors that make up the index. They're at their highest level since the end of 2016.

Anadarko Petroleum had one of the biggest gains in the index after jumping $3.09, or 5.6 percent, to $58.50.

The stock market has repeatedly shrugged off concerns through its placid ride to records. Whether investors are worried about a pickup in rates in the future or about how stocks have become more expensive than usual, any dip for the market over the last year has been shallow and short.

That's rewarded investors who have repeatedly "bought the dip" and seen every wobble in prices as a buying opportunity. The next test for the market may arrive in coming weeks as companies report how much profit they made in the last three months of 2017.

Businesses will need to produce strong growth to justify the gains their stocks have made, and expectations are also high that CEOs will unveil encouraging profit forecasts for 2018 after Washington cut their income-tax rates.

In markets abroad, Japan's Nikkei 225 fell 0.3 percent, South Korea's Kospi retreated 0.5 percent and Hong Kong's Hang Seng index edged 0.2 percent higher.

Britain's FTSE 100 rose 0.2 percent, France's CAC 40 was down 0.3 percent and Germany's DAX dipped 0.6 percent.

The dollar dipped to 111.09 Japanese yen from 111.35 late Wednesday. The euro rose to $1.2036 from $1.1957, and the British pound rose to $1.3536 from $1.3509.

In the commodities markets, gold gained $3.20 to settle at $1,322.50 per ounce, silver lost 7 cents to $16.97 per ounce and copper rose 2 cents to $3.23 per pound.

Natural gas rose 18 cents to settle at $3.08 per 1,000 cubic feet, heating oil was nearly flat at $2.08 per gallon and wholesale gasoline was steady at $1.84 per gallon.


----------



## bigdog

https://www.usnews.com/news/busines...-rise-on-wall-st-oil-gains-nikkei-dips-on-yen

* Stocks Keep Pushing Higher in 2018, Led by Retailers *
*Rising retailers pushed U.S. stock indexes further into record territory.*

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Rising retailers pushed U.S. stock indexes further into record territory on Friday, as the market's fabulous start to 2018 carried through its second week.

Interest rates also climbed after a report showed that a key component of inflation accelerated last month. But stocks absorbed the gains without a hiccup, unlike earlier in the week when rate worries helped send the Standard & Poor's 500 lower for its lone blemish this year.

The S&P 500 rose 18.68 points, or 0.7 percent, to 2,786.24 on Friday to close out its seventh week of gains in the last eight. The index is already up more than 4 percent for 2018.

The Dow Jones industrial average climbed 228.46, or 0.9 percent, to 25,803.19, the Nasdaq composite rose 49.28, or 0.7 percent, to 7,261.06 and the Russell 2000 index of small-cap stocks gained 5.18, or 0.3 percent, to 1,591.97.

Retailers led the way after a government report confirmed that the holiday shopping season was a strong one, with retail sales rising 0.4 percent last month following a 0.9 percent surge in November. The numbers fit with what individual retailers have said recently, and several have raised their profit forecasts as a result.

Shares of Kohl's, Target, Nordstrom and Dollar Tree all jumped more than 3 percent.

Treasury yields, meanwhile, rose after a key measure of inflation rose more last month than economists expected.

Overall inflation slowed in December, but that was mostly due to gasoline and other items that are prone to quick changes in price. "Core" inflation, which looks at the steadier components of the consumer price index, accelerated more than expected last month.

That pushed the yield on the two-year Treasury to 2.00 percent from 1.98 percent late Thursday. The yield on the 10-year Treasury note held steady at 2.54 percent after climbing as high as 2.59 percent in the morning.

Investors have been preparing for a gradual rise in rates, as the Federal Reserve slowly removes the aid it provided the economy following the Great Recession. The worry is that a surprise spike in inflation would force central banks to move more quickly on rates than investors expect and upset markets.

Stocks have been remarkably calm and strong for more than a year. Sandy Villere, a partner and portfolio manager at Villere & Co., said he's optimistic stocks can rise even further because the economy is strengthening and Washington's move to cut tax rates last month will boost corporate profits, among other reasons.

But some caution is starting to creep in as prices keep climbing. Villere said he's holding more cash than prior years as the types of stocks he prefers become more difficult to find: companies with strong growth but low prices relative to their earnings and growth.

"We're not fully invested at this point, but we haven't switched to pure defense yet either," Villere said. "Things are good enough to keep things going solidly, at least for the first half of 2018. We try not to be greedy about it."

The next tests for companies will arrive in coming weeks, as they report their results for the last three months of 2017. Expectations are generally high, and analysts are forecasting growth of nearly 11 percent for S&P 500 earnings per share, according to S&P Global Market Intelligence.

Financial companies are some of the earliest to report, and BlackRock jumped $17.61, or 3.3 percent, to $555.53 after it reported stronger earnings than analysts expected.

On the losing end was Facebook, which fell after the social-media giant said it will show users fewer posts from brands and fewer videos in favor of more posts from friends and family. The changes may mean people spend less time on Facebook, and less advertising revenue for the company.

Facebook dropped $8.40, or 4.5 percent, to $179.37.

In markets abroad, Japan's Nikkei 225 index lost 0.2 percent, South Korea's Kospi advanced 0.3 percent and Hong Kong's Hang Seng jumped 0.9 percent.

France's CAC 40 gained 0.5 percent, the FTSE 100 in London rose 0.2 percent and Germany's DAX climbed 0.3 percent.

The euro jumped to $1.2181 from $1.2036 late Thursday. The British pound rose to $1.3734 from $1.3536, and the dollar held steady at 111.09 Japanese yen.

In the commodities markets, benchmark U.S. crude rose 50 cents to settle at $64.30 per barrel. Brent crude, the international standard, gained 61 cents to $69.87 per barrel.

Natural gas gained 12 cents to $3.20 per 1,000 cubic feet, heating oil added a penny to $2.09 per gallon and wholesale gasoline rose 1 cent to $1.85 per gallon.

Gold rose $12.40 to settle at $1,334.90 per ounce, silver added 18 cents to $17.14 per ounce and copper dipped a penny to $3.22 per pound.

1669


----------



## bigdog

*US Shut for Holiday January 15*






* Dollar's Fall Weighs on Global Stocks as US Shut for Holiday *
*Global stock markets are mostly lower amid a broad-based drop in the dollar and a US holiday.*

*https://www.usnews.com/news/busines...rkets-edge-higher-us-dollar-falls-against-yen*

By YOUKYUNG LEE, AP Business Writer

SEOUL, South Korea (AP) — Global stocks mostly fell on Monday as the dollar weakened across the board, pinching the outlook for export-driven regions like Europe. The U.S. market remained closed for a holiday.

KEEPING SCORE: Britain's FTSE 100 fell 0.1 percent to 7,768.12 while Germany's DAX dropped 0.3 percent to 13,209.37 and France's CAC 40 ended the day roughly unchanged at 5,519.41. U.S. markets remained closed for Martin Luther King Jr. Day.

DOLLAR: The dollar fell in value against most currencies, extending its losses so far this year. Some economists attribute it to optimism about economic growth in regions like Europe and Japan, where central banks are getting closer to easing off their bond-buying stimulus programs, which have weighed on their currencies in the past. A stronger euro and yen, in turn, tend to weigh on many stocks in Europe and Japan, which are export-focused economies.

The dollar slipped to 110.56 Japanese yen on Monday from 111.04 yen the previous trading day. The euro strengthened to $1.2263 from $1.2199. The British pound hit $1.3820, its highest level against the dollar since before the Brexit referendum in June 2016, before edging back to $1.3800, up from $1.3725 the previous day.

ASIA'S DAY: Asian markets except China mostly finished with modest gains. Japan's Nikkei 225 rose 0.3 percent to 23,714.88 and South Korea's Kospi added 0.3 percent to 2,503.73. Hong Kong's Hang Seng index dipped 0.2 percent to 31,338.87 and China's Shanghai Composite Index slipped 0.5 percent to 3,410.49. Australia's S&P/ASX 200 inched up 0.1 percent to 6,077.10.

CHINA RISK: Shares slipped in Shanghai and Shenzhen after the China Banking Regulatory Commission issued a notice over the weekend calling for stricter oversight of financial risks. The notice took aim at preventing banks from shifting funds into stocks, property investments, local government financing vehicles and industries that violate national policies on pollution or excess capacity, among other areas of concern.


OIL: Energy prices rose further as the fall in the dollar made crude oil cheaper for international investors. Benchmark U.S. crude rose 22 cents to $64.52 per barrel in electronic trading on the New York Mercantile Exchange. That is its highest in about three years. Brent crude, the international standard, gained 16 cents to $70.03 per barrel.


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## dutchie

11 years ago bigdog posted the initial post in this thread






Since that day he has kept ASF members informed on the US markets and now generally on the World markets.
This must be a world record for continuous updating of a thread in any type of forum based site.
As can be seen on his initial post that he was then retired but obviously he has had a daily job updating this thread.

*CONGRATULATIONS BIGDOG !!  *

On behalf of all ASF members we wish you well and thank you for your contributions. We hope you continue the good work.


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## Joe Blow

dutchie said:


> *CONGRATULATIONS BIGDOG !!  *
> 
> On behalf of all ASF members we wish you well and thank you for your contributions. We hope you continue the good work.




The dedication of members like bigdog is what keeps ASF going. It's all about pitching in and helping others in whatever way you can. We are a community and the contributions of those who are a part of it is what makes the community stronger.

Thanks bigdog! Your 11 years of tireless commitment to keeping ASF members and visitors informed is sincerely appreciated. I'm sure I'm not the only one looking forward to another eleven years of updates.


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## bigdog

Joe, thank you for your kind words
John





https://www.usnews.com/news/busines...dvance-as-investors-look-ahead-to-us-earnings

* Dow Industrials Recede From 26,000 as Early Gains Fade *
*Losses by industrial and technology companies helped pull U.S. stocks lower Tuesday, pulling the market back from its latest record highs.*

By ALEX VEIGA, AP Business Writer

Losses by industrial and technology companies helped pull U.S. stocks lower Tuesday, pulling the market back from its latest record highs.

The slide erased some of the gains from a broad rally earlier in the day that had sent the Dow Jones industrial average past the 26,000-point threshold for the first time.

Energy stocks also fell as crude oil prices declined. Health care stocks were among the gainers as investors sized up the latest company earnings and deal news following a long holiday weekend.

"We've come perhaps a little bit too far, too fast," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. "If you look at year-to-date performance, you have the broad popular indices up roughly 3 to almost 5 percent in two weeks' trading. That's a fairly torrid pace and a pace that we think is perhaps a little aggressive, so a little bit of a pause here would perhaps be constructive."

The Standard & Poor's 500 index fell 9.82 points, or 0.4 percent, to 2,776.42. The Dow lost 10.33 points, or 0.04 percent, to 25,792.86. It had been up as much as 282 points earlier. The Nasdaq shed 37.38 points, or 0.5 percent, to 7,223.69. The Russell 2000 index of smaller-company stocks gave up 19 points, or 1.2 percent, to 1,572.97.

Bond prices rose. The yield on the 10-year Treasury fell to 2.54 percent from 2.55 percent late Friday.

The Dow's latest milestone-setting move happened shortly after the market opened Tuesday as investors weighed encouraging earnings from Citigroup and UnitedHealth Group.

It took the Dow seven trading days since it first closed above 25,000 on Jan. 4 to cross the 26,000-point threshold. That's faster than the 23 days it took the Dow to go from 24,000 to 25,000 points, which was a record thousand-point swing.


The milestone moment didn't last. The rally lost steam by early afternoon, ultimately pulling the Dow and the other major indexes into the red.

Even with Tuesday's reversal the stock market is off to a stellar start in 2018. The S&P 500 index has closed lower only one other day this year. It capped last week with its seventh weekly gain in the past eight.

Investors have been encouraged by strong global growth and rising company earnings. For the next few weeks, traders will have their eye on companies reporting results for the final quarter of 2017 for details on how the tax overhaul that took effect earlier this year will affect corporations.

Many companies are taking one-off charges for bringing home money held abroad, but traders expect them to benefit in the long run from the decision to cut the standard tax rate from 35 percent to 21 percent and are bidding up their share prices.

On Tuesday, Citigroup reported an $18.3 billion loss for the fourth quarter due to the new tax law. But excluding the one-time charges, Citigroup earned a profit. The stock added 27 cents to $77.11.

UnitedHealth Group gained 1.9 percent after its said earnings more than doubled in the final quarter of 2017. The nation's largest insurer also raised its forecast well beyond expectations, largely due to help from the federal tax overhaul. The stock picked up $4.26 to $232.90.

Elsewhere in the market, particularly with technology and industrial stocks, investors opted to sell.

"A big concern is the market right now is: 'Is tax reform priced in?'" said Lindsey Bell, investment strategist at CFRA Research.

Alliance Data Systems led the technology sector decliners, shedding $18.30, or 6.6 percent, to $258.07. General Electric was among the biggest laggards in the industrials sector. The conglomerate slid 2.9 percent after the company said it was taking a $6.2 billion charge related to its insurance portfolio. GE lost 55 cents to $18.21.


Viacom tumbled 7 percent after following several reports saying the media company is not in talks to merge with CBS Corp. The slide followed a sharp jump in Viacom Friday after a published report suggested that a merger might be a possibility. Viacom fell $2.38 to $31.38. CBS rose 60 cents, or 1 percent, to $59.43.

The price of bitcoin slumped, deepening its slide this year, after South Korea's top financial policymaker said that banning trading in digital currencies was an option.

Bitcoin sank 21.1 percent to $10,718 as of 4:48 p.m. Eastern Time Tuesday, according to the tracking site CoinDesk. Bitcoin futures on the Cboe Futures Exchange settled 19.9 percent lower at $11,055. The futures allow investors to make bets on the future price of bitcoin.

The price of bitcoin soared last year after starting 2017 under $1,000, but has been hurt this year amid signs of potentially increased scrutiny from governments. Many finance pros believe bitcoin is in a speculative bubble that could burst any time.

Energy stocks also declined following a drop in crude oil prices. Range Resources lost 80 cents, or 4.6 percent, to $16.78.

Benchmark U.S. crude fell 57 cents to $63.73 per barrel. Brent crude, used to price international oils, shed 99 cents, or 1.4 percent, to $69.27.

Merck rose after the drugmaker announced positive results from a clinical trial for a lung cancer treatment. The stock led all the gainers in the S&P 500, climbing $3.41, or 5.8 percent, to $62.07.


Gold rose $2.20 to $1,337.10 an ounce. Silver added 5 cents to $17.19 an ounce. Copper was little changed at $3.22 a pound.

The dollar fell to 110.30 yen from 111.09 yen on Friday. The euro strengthened to $1.2271 from $1.2181.

In other energy trading, wholesale gasoline slipped 2 cents to $2.06 a gallon. Heating oil lost a penny to $1.84 a gallon. Natural gas fell 7 cents, or 2.2 percent, to $3.13 per 1,000 cubic feet.

Germany's DAX gained 0.3 percent and France's CAC 40 added 0.1 percent. London's FTSE 100 shed 0.2 percent.

Tokyo's Nikkei 225 added 1 percent, while Hong Kong's Hang Seng jumped 1.8 percent. Seoul's Kospi rose 0.7 percent.


----------



## bigdog

*THE CHART BELOW FOR ALL INDEXES INCLUDES: 
52 WEEK HIGH AND LOW AND 
52 WEEK HIGH AND LOW CHANGE

-- THE DOW HAS GAINED +6437.71 POINTS OR 32.72% FOR THE YEAR
*





*-- THE ALL ORDINARIES HAS GAINED +499.20 POINTS OR 8.86% FOR THE YEAR

*






https://www.usnews.com/news/busines...track-weakness-on-wall-st-china-shares-higher

* US Stock Rally Lifts Dow to First Close Above 26,000 Points *
*A broad rally on Wall Street propelled the Dow Jones industrial average to close above 26,000 points for the first time Wednesday.*

By ALEX VEIGA, AP Business Writer

A broad rally on Wall Street propelled the Dow Jones industrial average to close above 26,000 points for the first time Wednesday.

The sharp gains also delivered record highs for the Standard & Poor's 500 index and the Nasdaq composite, wiping out the market's modest losses from a day earlier.

Technology and health care companies accounted for much of the gains. Financials stocks also rose, even as some big banks fell after reporting hefty quarterly losses.

"As yesterday's pullback suggests, investors and traders will come back into a market in which they still see an upside," said Quincy Krosby, chief market strategist at Prudential Financial. "But the market remains overbought, and an overbought market is susceptible to a pullback."

The Dow gained 322.79 points, or 1.3 percent, to 26,115.65.

The S&P 500 index rose 26.14 points, or 0.9 percent, to 2,802.56. The Nasdaq added 74.59 points, or 1 percent, to 7,298.28. The Russell 2000 index of smaller-company stocks picked up 13.69 points, or 0.9 percent, to 1,586.66.

The Dow traded above the 26,000-point threshold on Tuesday, but wound up closing lower. Its surge Wednesday was driven in part by a gain in Boeing, which posted the biggest gain in the 30-company average.

With the stock market reaching records so often, 1,000-point moves in the Dow have become increasingly commonplace. It's been just eight trading days since the Dow had its first close above 25,000 on Jan. 4. That's faster than the 23 days it took the Dow to go from 24,000 to 25,000 points.

The stock market is off to a stellar start in 2018. The S&P 500 index has closed lower only twice this year. It capped last week with its seventh weekly gain in the past eight.


Investors have been encouraged by strong global growth, rising company earnings and the prospects for further corporate profits thanks to the tax overhaul signed into law last month, which cut the top tax rate for corporations from 35 percent to 21 percent.

Technology stocks were again some of the biggest winners. Lam Research led the S&P 500 with a gain of $14.69, or 7.7 percent, to $205.08. Investors also bid up health care stocks, including Anthem. The insurer added $7.40, or 3.1 percent, to $249.15.

Industrial stocks rose after the Federal Reserve said U.S. industrial production increased 0.9 percent in December. Boeing rose $18.85, or 4.7 percent, to $351.01.

Juno Therapeutics soared 51.9 percent after the Wall Street Journal reported that biotech drugmaker Celgene might buy it. Juno is one of several companies developing therapies that involve genetically engineering patients' blood cells to fight cancer. Juno rose $23.65 to $69.25. Celgene fell $2.80, or 2.7 percent, to $102.02.

Some big companies were left out of Wednesday's rally.

Ford Motor slumped 7 percent after the automaker gave a disappointing profit forecast for the year because of weaker sales in the U.S., higher commodity costs and its investments in new electric and hybrid cars. The stock was the biggest decliner in the S&P 500, giving up 92 cents to $12.18.

Goldman Sachs and Bank of America also closed lower after their latest quarterly results disappointed Wall Street.

Goldman said it lost $1.93 billion in the fourth quarter as the investment bank had to record more than $4 billion in charges related to the new tax law. Goldman's trading desks had a weak quarter. The stock declined $4.81, or 1.9 percent, to $253.65.


Bank of America's fourth-quarter profits fell by nearly half from a year ago, as the bank had to book $2.9 billion in charges related to the tax law. The stock slid 6 cents, or 0.2 percent, to $31.18.

U.S. crude added 24 cents to $63.97 per barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, rose 23 cents to $69.38 a barrel.

Gold rose $2.10 to $1,339.20 an ounce. Silver dropped 2 cents to $17.17 an ounce. Copper fell 3 cents to $3.19 a pound.

The dollar rose to 111.13 yen from 110.30 yen on Wednesday. The euro fell to $1.2235 from $1.2271.

The price of bitcoin extended its slide Wednesday, though by late afternoon it had pared most of its losses from earlier in the day. The digital currency fell 1.6 percent to $11,172, according to the tracking site CoinDesk.

Bitcoin futures on the Cboe Futures Exchange fell 2.6 percent to $10,820. The futures allow investors to make bets on the future price of bitcoin. Many finance pros believe bitcoin is in a speculative bubble that could burst any time.

Heating oil futures gained a penny to $2.07 a gallon. Wholesale gasoline added 2 cents to $1.86 a gallon. Natural gas picked up 10 cents, or 3.3 percent, to $3.23 per 1,000 cubic feet.

European markets finished lower. Germany's DAX lost 0.5 percent, while the CAC 40 in France slipped 0.4 percent. Britain's FTSE 100 declined 0.4 percent.

Japan's Nikkei 225 index lost 0.4 percent, while the Kospi in South Korea shed 0.3 percent. Hong Kong's Hang Seng rebounded from earlier losses to gain 0.3 percent.


----------



## bigdog

https://www.usnews.com/news/busines...mixed-reverse-early-gains-echoing-wall-street

* US Indexes Are Weighed Down by Industrials, Energy Stocks *
*Losses among Boeing, General Electric and other big industrials companies weighed on U.S. stocks Thursday, pulling the market below the record highs it set the day before.*

By ALEX VEIGA, AP Business Writer

Losses among Boeing, General Electric and other big industrial companies weighed on U.S. stocks Thursday, pulling the market below the record highs it set the day before.

Energy stocks contributed to the modest decline following a slide in crude oil prices. Technology companies accounted for the biggest gains. Bond yields climbed to their highest level since March as demand for bonds waned.

Investors kept an eye on the latest company earnings news while also monitoring developments in Washington ahead of a possible federal government shutdown this weekend.

The market's dip from its latest highs represents "just a little setback," said Craig Callahan, chief investment officer at ICON Advisers. "We're still bullish and expect the market to move higher over the next year."

The Standard & Poor's 500 index fell 4.53 points, or 0.2 percent, to 2,798.03. The Dow Jones industrial average lost 97.84 points, or 0.4 percent, to 26,017.81. The Nasdaq slid 2.23 points, or 0.03 percent, to 7,296.05. The Russell 2000 index of smaller-company stocks gave up 9.93 points, or 0.6 percent, to 1,576.73.

Losers outnumbered winners by almost three to one. Trading in declining stocks also was more than twice as heavy as it was in shares that rose.

The major indexes, which hit record highs Wednesday, wavered between small gains and losses for much of the day as investors continued to size up company earnings and economic data.

The Commerce Department said Thursday that grounbreakings on new U.S. homes declined in December to a seasonally adjusted annual rate of 1.19 million units. The drop was a reversal from robust gains for October and November.

Traders also kept tabs on Washington, where Republicans and Democrats scrambled to avert a possible federal government shutdown before a midnight Friday deadline.

Republicans were trying to pass a funding bill that would prevent the shutdown of federal agencies, but Democrats threatened to vote against the bill unless the White House and GOP lawmakers include protections for younger immigrants who were brought to the U.S. illegally as children.

A shutdown could have a negative impact on consumer spending and financial conditions, though it's unlikely that it would cause lasting or broad damage to the economy, Credit Suisse economists concluded in a note published Thursday.

As for the Wall Street impact, a shutdown could sap some of the momentum that helped drive the stock market to new highs this week, said J.J. Kinahan, chief market strategist at TD Ameritrade.

"If you're going to shut down the government right after that, it's really the kind of thing that would just suck the confidence out of the market overall."

Bond prices fell. The yield on the 10-year Treasury climbed to 2.63 percent from 2.59 percent late Wednesday.

"You're in a little bit of a tough spot with bonds," said Kinahan. "Do you want to buy bonds of a government that's shut down? Yet you want to go for bonds whenever you're looking for protection, and the last time the government shut down, bonds actually rallied."

A slide in industrials stocks weighed heaviest on the market Thursday. Boeing had its worst day since September 2016. The stock lost $10.85, or 3.1 percent, to $340.16. General Electric declined 58 cents, or 3.3 percent, to $16.77.

Alcoa tumbled 7 percent after the company reported a wider loss in the fourth quarter. Alcoa said it will freeze its pension and move some employees to a defined contribution retirement plan starting in 2021 as it looks to cut costs. The stock lost $3.99 to $53.

Several banks also reported quarterly results. Morgan Stanley rose after its latest earnings beat Wall Street's expectations. The stock added 49 cents to $55.84. Bank of NY Mellon and KeyCorp declined after their latest results disappointed traders. Bank of NY Mellon lost $2.54, or 4.4 percent, to $55.35, while KeyCorp dropped 44 cents, or 2.1 percent, to $20.82.

Technology stocks, one of the biggest gainers this year, continued to notch gains. Advanced Micro Devices picked up 29 cents, or 2.4 percent, to $12.47.

Traders welcomed news that Wyndham Worldwide agreed to buy La Quinta's hotel franchise and management business. Shares in La Quinta added 73 cents, or 3.8 percent, to $20.18. Wyndham gained $5.60, or 4.8 percent, to $122.73.

A decline in oil prices weighed on energy sector stocks. Baker Hughes slid $1.55, or 4.3 percent, to $34.74.

Benchmark crude slipped 2 cents to settle at $63.95 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, slid 7 cents to close at $69.31 a barrel.

The dollar rose to 111.98 yen from 111.13 yen on Wednesday. The strengthened to $1.2242 from $1.2235.

The price of bitcoin recouped some of its recent losses. The digital currency gained 2.9 percent to $11,462, according to the tracking site CoinDesk. Bitcoin futures on the Cboe Futures Exchange rose 8.7 percent to settle at $11,765. The futures allow investors to make bets on the future price of bitcoin.

Gold dropped $12 to $1,327.20 an ounce. Silver slipped 21 cents to $16.95 an ounce. Copper rose 1 cent to $3.20 a pound.

In other energy futures trading, wholesale gasoline added 3 cents to $1.88 a gallon. Heating oil dropped a penny to $2.06 a gallon. Natural gas fell 4 cents, or 1.3 percent, to $3.19 per 1,000 cubic feet.

Major stock indexes in Europe finished mixed. Germany's DAX rose 0.7 percent, while France's CAC 40 was little changed. Britain's FTSE 100 fell 0.3 percent.

In Asia, Japan's benchmark Nikkei 225 finished 0.4 percent lower. Hong Kong's Hang Seng added 0.4 percent after China reported 6.9 percent economic growth in 2017, faster than expected. South Korea's Kospi inched up less than 0.1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ubdued-as-us-government-shutdown-threat-looms

* US Stocks Close Higher as Market Sets Latest Record High *
*Investors shrugged off the potential for a federal government shutdown Friday, driving U.S. stocks higher and reaching new milestones for several of the indexes.*
Jan. 19, 2018, at 5:12 p.m.

By ALEX VEIGA, AP Business Writer

Investors shrugged off the potential for a federal government shutdown Friday, driving U.S. stocks higher and setting new milestones for several of the indexes.

The Standard & Poor's 500 index, Nasdaq composite and Russell 2000 index of smaller-company stocks finished at record highs as the market bounced back from modest losses a day earlier. The S&P 500 has now posted a weekly gain in nine of the last 10 weeks.

Retailers, banks and consumer goods companies accounted for much of the latest gains. Energy stocks fell along with crude oil prices. Utilities also declined as bond yields edged up to their highest level in more than three years.

The market rally suggested that the possibility of a federal government shutdown this weekend wasn't worrying traders.

"Looking back to some of the previous shutdowns, they weren't terribly extended in nature and didn't cause a lot of disruption by the time everything was done," said Tim Dreiling, regional investment director at U.S. Bank Private Wealth Management. "I don't think it's going to disrupt growth or make much of an impact on GDP, for example."

The S&P 500 index rose 12.27 points, or 0.4 percent, to 2,810.30. The Dow Jones industrial average gained 53.91 points, or 0.2 percent, to 26,071.72. The average hit a new high on Wednesday.

The Nasdaq added 40.33 points, or 0.6 percent, to 7,336.38. The Russell 2000 index of smaller-company stocks picked up 20.90 points, or 1.3 percent, to 1,597.63.

Bond prices fell. The yield on the 10-year Treasury rose to 2.66 percent from 2.63 percent late Thursday. That's the highest level since July 2014. The increase in yields weighed on bond-proxy stocks, such as utilities. Exelon declined 62 cents, or 1.6 percent, to $37.97.

Despite an eleventh-hour effort to reach an agreement, Republicans and Democrats appeared no closer to averting a government shutdown before a midnight Friday deadline. After an afternoon meeting with President Donald Trump, Senate Democratic leader Chuck Schumer said the discussions would continue after having made "some progress."

U.S. House lawmakers voted late Thursday for a stopgap funding bill to keep federal agency doors open until mid-February, but Senate Democrats and some Republicans threatened to block it. Democrats want the bill to include protections for younger immigrants who were brought to the U.S. illegally as children.

Investors have driven stock indexes higher on optimism over the global economic outlook and corporate earnings, and the possibility of a federal government shutdown did not dim that enthusiasm Friday.

Investors bid up shares in clothing makers, restaurant chains, department stores and other consumer-focused companies. Toy maker Mattel led the pack, climbing 91 cents, or 6 percent, to $16.14.

They also drove up tobacco manufacturers, food and beverage makers, and other consumer products companies. Philip Morris International picked up $3.85, or 3.7 percent, to $108.92. Campbell Soup added $1.14, or 2.5 percent, to $47.39.

Banks and other financial stocks also rose. Synchrony Financial gained $1.17, or 3.1 percent, to $38.47.

Lowe's rose 3.5 percent after the home-improvement supply retailer named three new directors. The stock added $3.59 to $104.95.

Some big companies missed out on the broader market gains Friday.

IBM slumped 4 percent despite a solid fourth-quarter report. The technology and consulting company was the biggest decliner in the Dow. The stock slid $6.75 to $162.37.

American Express fell 1.8 percent after the credit card issuer suspended its share buy-back program for six months following a big one-time tax charge. The stock shed $1.83 to $98.03.

Oil futures closed lower after the International Energy Agency said U.S. oil production would rise sharply this year. Benchmark U.S. crude lost 58 cents, or 0.9 percent, to settle at $63.37 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, fell 70 cents, or 1 percent, to close at $68.61 a barrel.

The decline in oil prices weighed on energy sector stocks. Range Resources slid 39 cents, or 2.4 percent, to $16.08.

In other energy futures trading, wholesale gasoline fell 2 cents to $1.86 a gallon. Heating oil was little changed at $2.06 a gallon. Natural gas also closed essentially flat at $3.19 per 1,000 cubic feet.

Gold rose $5.90 to $1,333.10 an ounce. Silver added 8 cents to $17.04 an ounce. Copper slipped 1 cent to $3.19 a pound.

The dollar fell to 110.60 yen from 110.98 yen on Thursday. The euro weakened to $1.2234 from $1.2242.

The price of bitcoin edged up 1.4 percent to $11,413, according to the tracking site CoinDesk. Bitcoin futures on the Cboe Futures Exchange declined 3.1 percent to settle at $11,400. The futures allow investors to make bets on the future price of the digital currency.

Major stock indexes in Europe notched gains Friday. Germany's DAX rose 1.2 percent and France's CAC 40 added 0.6 percent. Britain's FTSE 100 gained 0.4 percent. In Asia, Japan's benchmark Nikkei 225 edged up 0.2 percent, while South Korea's Kospi gained 0.2 percent. Hong Kong's Hang Seng ended 0.4 percent higher.

 2736


----------



## bigdog

https://www.usnews.com/news/busines...stocks-advance-despite-us-government-shutdown

* Pharma Deals, Shutdown Pact Help Stocks Set More Records *
*US stocks set more records as technology companies rise.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Hefty gains for energy and technology companies helped U.S. stocks set more records Monday. Drugmakers announced two major deals worth about $20 billion and smaller-company stocks climbed after the Senate reached a short-term deal to end the government shutdown.

Stocks were slightly higher in the early going as strong fourth-quarter results from Halliburton helped energy companies, and big technology companies like Alphabet and Microsoft continued their ascent. Starting at noon, after Senate Democrats said they would support a three-week government funding bill, bond yields increased and smaller-companies shook off their early losses to turn higher.

French drugmaker Sanofi is buying hemophilia treatment maker Bioverativ in a deal the companies valued at $11.6 billion, while Celgene will buy cancer treatment maker Juno Therapeutics for $9 billion. In the financial sector, insurer AIG is buying Validus, a provider of reinsurance, primary insurance, and asset management services, for $5.56 billion.

Marina Severinovsky, an investment strategist at Schroders, said health care companies are likely to find more money for deals because the Republican-backed tax package gave the companies a one-time tax break on money they've been keeping overseas. Meanwhile AIG's big purchase is a sign of how far the company has come since the federal government bailed it out almost a decade ago.

"AIG became synonymous with this $180 billion bailout and here they are making a deal with cash," said Severinovsky. "We've got a pretty healthy global economy and companies are more willing to take a risk than they have been in recent years."

The Standard & Poor's 500 index picked up 22.67 points, or 0.8 percent, to 2,832.97. The Dow Jones industrial average rose 142.88 points, or 0.5 percent, to 26,214.60. The Nasdaq composite added 71.65 points, or 1 percent, to 7,408.03. The Russell 2000 index of smaller-company stocks gained 7.54 points, or 0.5 percent, to 1,605.17.

The Senate was poised to pass a bill that will fund the federal government until early February. That came after Republican leaders said they will soon address immigration and other contentious political issues. The government shut down after the previous funding bill expired Friday.

The threat of a shutdown has loomed for months and the short-term fix doesn't resolve that. But the threat hasn't troubled Wall Street because investors doubt it would have much effect on the market or the economy unless it persists for several weeks or more. After that, it might affect economic growth or consumer spending.

Sanofi is buying hemophilia treatment maker Bioverativ for $105 a share. Bioverativ makes Eloctate and Alprolix, which treat two different types of hemophilia. It's part of Sanofi's growing focus on rare diseases, which can command high prices at a time generic medications for more common ailments are falling.

Bioverativ jumped $39.68, or 61.9 percent, to $103.79 while Sanofi lost $1.40, or 3.1 percent, to $43.20.

Meanwhile Celgene will pay $87 a share, for its partner Juno Therapeutics. Juno is one of several companies developing CAR-T cancer therapies, which genetically engineer patients' blood cells into "living drugs" that fight cancer. The stock surged last week on reports Celgene might buy the company. On Monday it rose $18.19, or 26.8 percent, to $86 while Celgene added 26 cents to $102.91.

Bond prices gave up an early gain. The yield on the 10-year Treasury note remained at 2.66 percent, a three-year high.

Halliburton climbed after the oil and gas drilling services company posted a bigger adjusted profit and greater revenue than analysts expected. Its stock advanced $3.39, or 6.4 percent, to $56.40. Competitor Schlumberger, which reported better-than-expected results Friday, gained $3.37, or 4.4 percent, to $79.79.

Benchmark U.S. crude rose 25 cents to $63.62 a barrel in New York. Brent crude, used to price international oils, added 42 cents to $69.03 a barrel in London.

Insurer AIG is buying Validus, a provider of reinsurance, primary insurance, and asset management services, for $68 a share. Validus gained $20.57, or 44 percent, to $67.29 and AIG slid 55 cents to $61.

Utility company FirstEnergy surged after it received a $2.5 billion investment from a group of firms including Paul Singer's Elliott Management. Those investors will get $1.62 billion in convertible stock and $850 million in common stock, and FirstEnergy said the funds will help the company pack back debt and contribute to its pension fund as it converts to a fully-regulated utility.

Its stock climbed $3.05, or 10.4 percent, to $32.45.

In other energy trading, wholesale gasoline gained 2 cents to $1.88 a gallon. Heating oil stayed at $2.06 a gallon. Natural gas climbed 4 cents to $3.22 per 1,000 cubic feet.

The dollar rose to 110.99 yen from 110.60 yen from 110.98 yen. The euro edged up to $1.2258 from $1.2234.

Gold slipped $1.20 to $1,331.90 an ounce. Silver lost 5 cents to $16.99 an ounce. Copper gained 1 cent to $3.20 a pound.

The French CAC 40 added 0.3 percent and Germany's DAX edged up 0.2 percent. In Britain the FTSE 100 lost 0.2 percent. Tokyo's Nikkei 225 rose less than 0.1 percent and Hong Kong's Hang Seng advanced 0.4 percent. The Kospi in South Korea lost 0.7 percent.


----------



## bigdog

https://www.usnews.com/news/busines...-rise-on-global-growth-hopes-us-shutdowns-end

* Tech and Consumer-Focused Companies Rise; Netflix Leaps *
*U.S. stocks rise again as technology and consumer-focused companies climb, with Netflix soaring after it gained more than 8 million subscribers in the fourth quarter.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Technology and consumer-focused companies led U.S. stocks to more records Tuesday. Netflix, at the center of both groups, soared after saying it gained more than 8 million subscribers at the end of 2017.

Bond prices rose and yields fell after the Bank of Japan said it isn't cutting back its stimulus programs. Yields had reached long-time highs, and the decline helped high-dividend companies like utilities and real estate investment trusts. Health care and household goods companies fell after Johnson & Johnson and Procter & Gamble gave disappointing quarterly reports.

U.S. solar power companies spiked after President Donald Trump approved tariffs on imported solar-energy components. Some investors were relieved: analysts said the tariffs will make production more expensive for U.S. companies, but they weren't as harsh as they could have been. Companies that do their manufacturing overseas finished lower and some of the U.S. companies gave up their gains before trading ended.

"You could probably argue that this particular tariff is the first implementation of the protectionist rhetoric than he ran on," said Randy Frederick, vice president of trading & derivatives at Charles Schwab. That didn't worry investors much, but Frederick said stocks might decline if there are signs other countries are retaliating or that the administration is preparing to take more aggressive steps.

The Standard & Poor's 500 index added 6.16 points, or 0.2 percent, to 2,839.13. The Dow Jones industrial average fell 3.79 points to 26,210.81. The 30-stock index was pulled lower by Johnson & Johnson and Procter & Gamble's losses. The Nasdaq composite jumped 52.26 points, or 0.7 percent, to 7,460.29. The Russell 2000 index of smaller-company stocks rose 5.54 points, or 0.3 percent, to 1,610.71.

Netflix said it picked up 8.3 million subscribers in the fourth quarter, a much stronger result than the company and analysts had expected. The streaming video company's stock soared $22.71, or 10 percent, to $250.29.

Big technology companies also rallied. Facebook rose $3.98, or 2.1 percent, to $189.35 and Google's parent company Alphabet gained $12.01, or 1 percent, to $1,176.17. Online retailer Amazon climbed $35.23, or 2.7 percent, to $1,362.54.

The tariff on imported solar-energy components will start at 30 percent and it's aimed at cheaper imports places like South Korea and China. The latter country called the measures an abuse of trade remedies.

Raymond James analyst Pavel Molchanov said the extra costs from the tariffs will stop some projects from being built, but added that solar power capacity in the U.S. should keep growing at a rapid pace over the next few years.

First Solar rose as much as 8.6 percent before turning lower and falling 48 cents to $68.48. SunPower gained 6.8 percent early on, but later fell 56 cents, or 6.4 percent, to $8.16. However Sunrun gained 37 cents, or 6.1 percent, to $6.41. JinkoSolar Holdings sank $1.85, or 7.9 percent, to $21.52 and Canadian Solar declined 13 cents to $15.64.

The administration also placed a tariff of 50 percent on large washing machines and some components. Whirlpool climbed $5.33, or 3.2 percent, to $171.98.

Johnson & Johnson dropped after the health care giant said sharply higher spending canceled out a big jump in sales. A federal appeals court also ruled against Johnson & Johnson, saying a patent on its rheumatoid arthritis drug Remicade isn't valid. Remicade is its biggest-selling drug and the ruling could lead to increased competition. Its stock shed $6.31, or 4.3 percent, to $141.83.

Tide detergent maker Procter & Gamble lost $2.84, or 3.1 percent, to $89.05. The company reported a bigger profit and better sales than Wall Street expected, but analysts said its profit margins were weak.

Bond prices turned higher. The yield on the 10-year Treasury note fell to 2.62 percent from 2.66 percent. For the last few days, the 10-year yield has been at its highest level since September 2014.

Asian stock indexes also rose after the Bank of Japan said it will continue making massive asset purchases and using negative interest rates to spur inflation. Japan's benchmark Nikkei 225 index jumped 1.3 percent and South Korea's Kospi climbed 1.4 percent. Hong Kong's Hang Seng rose 1.7 percent.

Benchmark U.S. crude rose 90 cents, or 1.4 percent, to $64.47 a barrel in New York. Brent crude, used to price international oils, added 93 cents, or 1.3 percent, to $69.96 a barrel in London.

Wholesale gasoline rose 3 cents to $1.91 a gallon. Heating oil added 3 cents to $2.09 a gallon. Natural gas jumped 22 cents, or 6.8 percent, to $3.44 per 1,000 cubic feet.

Gold rose $4.80 to $1,336.70 an ounce. Silver lost 8 cents to $16.91 an ounce. Copper fell 9 cents to $3.11 a pound.

The dollar slid to 110.30 yen from 110.99 yen. The euro edged up to $1.2294 from $1.2258.

The International Monetary Fund estimated that the world economy expanded at a 3.7 percent annual pace last year, the fastest since 2011, and said it believes growth will accelerate to 3.9 percent in 2018-19. The IMF noted surprisingly strong growth in Europe and Asia and predicted that U.S. tax cuts will give the American economy a short-term boost.

Germany's DAX climbed 0.7 percent and the British FTSE 100 rose 0.2 percent. France's CAC 40 fell 0.1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...-mixed-on-renewed-jitters-over-trade-friction

* Technology Stocks Sink, Pulling Indexes Lower; Dollar Falls *
*Losses for chipmakers like Texas Instruments pull technology companies lower as US indexes give up an early gain.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks bounced up and down and finished mostly lower Wednesday as technology companies slumped. Commerce Secretary Wilbur Ross discussed a more nationalist trade stance, with uncertain effects for the market. The dollar, already at three-year lows, got even weaker.

Stocks got off to a strong start, but technology companies took heavier losses as the day wore on, led by chipmakers after Texas Instruments gave a disappointing forecast for the current quarter. Apple also fell.

The dollar sagged against other currencies after Treasury Secretary Steven Mnuchin said the currency's decline is good for U.S. exporters, suggesting he isn't likely to try to stop its slide. Airlines plunged after United Continental said it plans to ramp up passenger capacity.

Mnuchin and Ross are at the World Economic Forum in Davos, Switzerland. Mnuchin's comments sent the price of gold and silver higher, as investors often buy precious metals when they're concerned about inflation or softness in the dollar. Weakness in the dollar usually helps companies that export a lot of goods from the U.S., but it can hurt smaller, more domestic companies by driving up the costs of imported components.

"Small caps are much more domestically focused than large caps are, but (they are) still buying from foreign companies," said Mark Hackett, chief of investment research at Nationwide Investment Management.

Hackett said smaller U.S. companies will report faster profit growth this year than larger ones. That's because the benefit those companies will get from the recent corporate tax cut will outweigh the pain from the weaker dollar.

The Standard & Poor's 500 index lost 1.59 points, or 0.1 percent, to 2,837.54. The Dow Jones industrial average rose 41.31 points, or 0.2 percent, to 26,252.12. In the morning the Dow rose as much as 181 points and later fell as much as 103 points before turning higher again. That's an unusually large swing for the Dow given the market's recent lack of volatility.

The Nasdaq composite fell 45.23 points, or 0.6 percent, to 7,415.06. The Russell 2000 index of smaller-company stocks skidded 11.10 points, or 0.7 percent, to 1,599.61.

Investors have focused on global trade issues the last few days. On Tuesday, the administration placed tariffs on imported solar power components and washing machines.

On Wednesday Ross said the U.S. is fighting back against countries that have taken advantage of trade deals in the past.

"Trade wars are fought every single day," Ross said. "Unfortunately, every single day there are various parties trying to violate the rules, and trying to take unfair advantage of things ... the difference is that U.S. troops are now coming to the ramparts."

European stocks dropped. Germany's DAX slumped 1.1 percent and the French CAC 40 fell 0.7 percent. The British FTSE 100 fell 1.1 percent.

Texas Instruments fell $10.19, or 8.5 percent, to $109.70 after analysts were disappointed with its revenue forecast for the current quarter. Competitor Applied Materials gave up 88 cents, or 1.5 percent, to $56.91 and Nvidia fell $3.11, or 1.3 percent, to $235.80.

Chipmakers have made huge gains in recent months, and Nvidia has more than doubled over the last year. Citi Investment Research analyst Christopher Danely said business conditions for chipmakers are weakening after a run of strong results.

United Continental plunged after it said it's planning more aggressive growth over the next few years. It's aiming to increase its passenger-carrying capacity by 4 to 6 percent a year through 2020. United has done better recently at handling competition with lower-cost carriers, but investors worried that more flights will mean reduced prices and hurt its profits. The stock plunged $8.9, or 11.4 percent, to $69.05.

The dollar dropped to 109.05 yen from 110.30 yen. The euro advanced to $1.2405 from $1.2294. The ICE US dollar index fell almost 10 percent in 2017 and is down 3 percent so far this year.

Gold climbed $19.60, or 1.5 percent, to $1,356.30 an ounce and silver rose 58 cents, or 3.4 percent, to $17.49 an ounce. Copper rose 12 cents, or 3.8 percent, to $3.23 a pound.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.64 percent from 2.62 percent. That helped banks because higher yields let them charge higher interest rates on loans. JPMorgan Chase rose $1.46, or 1.3 percent, to $115.67.

Appliance maker Whirlpool, which gets most of its revenue overseas, continued to rally as the falling dollar could boost its sales and aid its earnings. The stock rose 3.5 percent Tuesday after the tariffs were announced, and on Wednesday it made its biggest gain in 18 months as it rose another $6.99, or 4.1 percent, to $178.97.

Benchmark U.S. crude rose $1.14, or 1.8 percent, to $65.61 a barrel in New York. Brent crude, used to price international oils, added 57 cents to $70.53 a barrel in London.

Wholesale gasoline rose 1 cent to $1.92 a gallon. Heating oil picked up 2 cents to $2.11 a gallon. Natural gas gained 7 cents to $3.51 per 1,000 cubic feet.

Asian stocks were mixed. Japan's benchmark Nikkei 225 slipped 0.8 percent while the Hang Seng in Hong Kong index rose 0.1 percent. South Korea's Kospi gained 0.1 percent.


----------



## bigdog

*Gold picked up $6.60 to $1,362.90 an ounce, and after strong gains over the last few days it's at its highest price since August 2016.

The Standard & Poor's 500 index and Dow Jones industrial average still rose enough to set more records*






https://www.usnews.com/news/busines...et-wobble-weak-dollar-pull-asian-shares-lower

* Losses for Airlines, Tech Mostly Offset Other Stock Gains *
*Stock indexes ended another choppy day of trading mixed as airlines continue to fall and homebuilders plunged after a drop in sales of new houses.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks spent a second day flipping between small gains and losses Thursday as investors again looked for hints about the Trump administration's stance on international trade and the dollar. Major indexes ended the day mixed as airlines plunged while biotech drugmakers climbed.

Homebuilders fell sharply after the Commerce Department said sales of new homes dropped in December. Airlines suffered a second day of sharp losses as investors worried about rising costs and the possibility of lower air fares. Retailers and technology companies slipped, but health care companies including Biogen and Celgene rose.

High-dividend stocks such as utilities rallied as bond yields fell, making those stocks more attractive to investors seeking income.

The dollar made small recovery in the afternoon after President Donald Trump said he wants to see a stronger U.S. currency. The dollar has fallen to three-year lows, and it fell further on Wednesday after Treasury Secretary Steven Mnuchin said there were advantages to the dollar's weakness over the last year.

Investors took that to mean the administration wouldn't do much to prop up the dollar. Mnuchin said Thursday that he supports a stronger dollar over a longer term.

The Standard & Poor's 500 index and Dow Jones industrial average still rose enough to set more records, but stocks have wobbled this week as investors monitored the World Economic Forum in Davos, Switzerland, to get a sense of how the Trump administration's nationalist stance might affect global trade. Trump is scheduled give a speech there at around 7 a.m. Eastern time Friday.

Julian Emanuel, chief equity and derivatives strategist for BTIG, said investors have mostly tuned out political news in the last year, but it might be time for that to change because after a stretch of historic calm in the markets, volatility is rising slightly.

"Economies and earnings are the drivers of the market long term, but politics needs to be respected," he said.

The S&P 500 inched up 1.71 points, or 0.1 percent, to 2,839.25. The Dow average climbed 140.67 points, or 0.5 percent, to 26,392.79. The Nasdaq composite fell 3.89 points to 7,411.16. The Russell 2000 index of smaller-company stocks rose 2.06 points, or 0.1 percent, to 1,601.67. Most of the stocks on the New York Stock Exchange closed lower.

Stocks have been setting record highs regularly for more than a year, and the S&P 500 is up 6.2 percent this month. It's on track for its biggest monthly gain since March 2016, a time when the market was recovering after a sharp plunge.

The dollar edged up to 109.41 yen from 109.05 yen and the euro dipped to $1.2391 from $1.2405.

Among airlines, Alaska Air lost $2.62, or 4.1 percent, to $62.07 and Southwest Airlines sank $2.02, or 3.2 percent, to $60.19. They took even bigger losses Wednesday after United Continental said it plans to add passenger capacity at a faster pace over the next few years. That could increase the chances of a glut of flights and lower fares at the same time airlines are dealing with higher fuel expenses and higher labor costs.

The Commerce Department said sales of new homes fell more than 9 percent in December, partly because of severely cold weather. NVR sank $237.20, or 6.6 percent, to $3,350 while Lennar fell $2.35, or 3.3 percent, to $68.47. Those stocks have made huge gains over the last year because of strong demand for homes and rising prices.

Newell Brands, which makes Sharpie pens and Elmer's glue, plunged to its lowest price in almost five years after it again lowered its forecasts for 2017 and said it will consider selling numerous businesses including Rubbermaid. That's a sharp change in direction for Newell, which less than two years ago paid $13 billion to buy Rubbermaid's parent company Jarden.

Newell also said three directors resigned from its board. The stock plunged $6.42, or 20.6 percent, to $24.81.

Bond prices turned higher. The yield on the 10-year Treasury note fell to 2.62 percent from 2.65 percent.

The European Central Bank didn't make any changes to its stimulus programs. ECB head Mario Draghi said the eurozone economy still needs support to keep raising the rate of inflation toward healthier levels. It will continue to buy 30 billion euros ($36 billion) in bonds per month until at least September.

While major exporters like technology and industrial companies have benefited from the decline in the dollar, it has hurt smaller and more U.S.-focused companies, which have not done as well as the rest of the stock market over the last year.

Benchmark U.S. crude lost 10 cents to $65.51 a barrel in New York. Brent crude, used to price international oils, gained 41 cents to $70.94 per barrel in London.

Wholesale gasoline remained at $1.92 a gallon. Heating oil rose 1 cent to $2.12 a gallon. Natural gas fell 6 cents to $3.45 per 1,000 cubic feet.

Gold picked up $6.60 to $1,362.90 an ounce, and after strong gains over the last few days it's at its highest price since August 2016. Silver gained 13 cents to $17.62 an ounce. Copper fell 1 cent to $3.22 a pound.

Germany's DAX lost 0.9 percent and the British FTSE 100 fell 0.4 percent. The CAC 40 in France dipped 0.3 percent. Japan's Nikkei 225 sank 1.1 percent while Hong Kong's Hang Seng slipped 0.9 percent. South Korea's Kospi surged 1 percent.


----------



## bigdog

*AUSTRALIA DAY HOLIDAY FRIDAY JANUARY 26

U.S. stocks powered to their biggest gain in almost nine months Friday

Already at record highs, the S&P 500 is up 7.5 percent in January and on track for its largest monthly increase since October 2015.*






https://www.usnews.com/news/busines...-recoup-losses-dollar-steady-as-eyes-on-trump

* Health Care, Tech and Trade Hopes Lead Another Stock Surge *
*Technology and health care companies help stocks to their biggest gain since March, and investors are pleased President Donald Trump appeared to take a more positive tone on international trade.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks powered to their biggest gain in almost nine months Friday as drugmakers and technology companies surged. Investors were cheered that President Donald Trump appeared to take a more positive tone on international trade.

AbbVie boosted biotechnology companies with a strong fourth quarter and a greater annual profit forecast, while Pfizer and other drugmakers also made big gains. Intel had its best day in almost nine years after its fourth-quarter results reassured investors that security flaws recently discovered in its processors aren't damaging its sales. Wynn Resorts tumbled following numerous allegations of sexual assault and harassment by Steve Wynn, the casino operator's chairman, CEO and biggest shareholder.

Speaking at the World Economic Forum in Davos, President Donald Trump said Friday that leaders should prioritize their own countries, but that his administration isn't opposed to international cooperation and that continued growth for the U.S. economy is good for the rest of the world.

"He did talk about making sure trade deals are fair, but I just thought it was a completely different tone today," said JJ Kinahan, chief investment strategist for TD Ameritrade. "I think the market really took a lot of positives away from that."

On Wednesday and Thursday, comments from Trump as well as Treasury Secretary Steven Mnuchin and Commerce Secretary Wilbur Ross contributed to swings in stock prices and the dollar as investors tried to parse the remarks for indications of administration's stances on the dollar and international trade.

The Commerce Department said the U.S. economy grew 2.6 percent in the fourth quarter. That was a bit less than analysts predicted but still a solid result, as Americans continued to shop and home construction increased. The economy grew 2.3 percent in 2017 and experts think growth will speed up this year, partly because of the tax cut package signed into law in December.

The Standard & Poor's 500 index climbed 33.62 points, or 1.2 percent, to 2,872.87, its biggest gain since March 1. The Dow Jones industrial average added 223.92 points, or 0.8 percent, to 26,616.71. The Nasdaq composite rose 94.61 points, or 1.3 percent, to 7,505.77. The Russell 2000 index of smaller-company stocks gained 6.39 points, or 0.4 percent, to 1,608.06.

Already at record highs, the S&P 500 is up 7.5 percent in January and on track for its largest monthly increase since October 2015.

Technology and industrial companies made hefty gains, as did Amazon and other retailers, and banks rose along with interest rates. Those companies tend to benefit from more global trade and faster economic growth. Many of them are helped by a weaker dollar, and the U.S. currency declined again Friday. The weaker dollar raises costs for more U.S.-focused companies such as those in the Russell 2000, which lagged other indexes Friday.

Intel said its data center business did well in the fourth quarter and the "Meltdown" and "Spectre" security flaws aren't affecting its sales. It forecast $65 billion in revenue this year, more than analysts expected. The stock added $4.78, or 10.6 percent, to $50.08, its biggest gain since March 2009.

Technology companies have led the market's big gains since the start of 2017, and that will be put to the test next week as a slew of major companies including Apple, Microsoft, Facebook and Google's parent company Alphabet all report their quarterly results.

AbbVie posted greater sales of key drugs including Humira, an inflammatory disease treatment that is the world's biggest-selling drug by revenue, and its hepatitis C treatments. AbbVie also raised its profit forecast for 2018. The stock jumped $14.91, or 13.8 percent, to $123.21.

Pfizer rose on reports that it's getting closer to a deal to sell its consumer health care business, a possibility Pfizer raised in October. It stock gained $1.78, or 5.3 percent, to $39.01.

Wynn Resorts stock plunged $20.31, or 10.1 percent, to $180.29 after the Wall Street Journal reported on dozens of allegations against Wynn, who denied any wrongdoing.

Starbucks skidded $2.56, or 4.2 percent, to $57.99 after it posted weaker growth than investors had hoped. Analysts were unhappy with its results outside the U.S., and Starbucks also said sales of holiday merchandise were slow.

The dollar declined further against other currencies. It fell to 108.66 yen from 109.41 yen. The euro rose to $1.2423 from $1.2391. The ICE US dollar index is at three-year lows and has declined for six consecutive weeks.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.66 percent, matching its highest level in more than three years. It finished at 2.62 percent Thursday.

After it reached an 18-month high Thursday, gold fell $10.80 to $1,352.10 an ounce. Silver dropped 17 cents, or 1 percent, to $17.44 an ounce. Copper slipped 2 cents to $3.20 a pound.

Benchmark U.S. crude rose 63 cents, or 1 percent, to $66.14 a barrel in New York. Brent crude, used to price international oils, added 10 cents to $70.52 per barrel in London.

Wholesale gasoline picked up 2 cents to $1.94 a gallon. Heating oil rose 2 cents to $2.14 a gallon. Natural gas rose 9 cents, or 2.5 percent, to $3.53 per 1,000 cubic feet.

The CAC 40 in France jumped 0.9 percent while the German DAX gained 0.3 percent. The FTSE 100 in Britain rose 0.7 percent. Japan's Nikkei 225 slipped 0.2 percent and South Korea's Kospi rose 0.5 percent. Hong Kong's Hang Seng index jumped 1.5 percent.

3432


----------



## bigdog

https://www.usnews.com/news/busines...xed-as-benchmarks-fall-back-after-upbeat-open

* Technology Companies Lead Modest Pullback in US Stocks *
*A broad sell-off handed the U.S. stock market its biggest loss in more than four months Monday, pulling the major indexes modestly below their recent record highs.*

By ALEX VEIGA, AP Business Writer

A broad sell-off handed the U.S. stock market its biggest loss in more than four months Monday, pulling the major indexes below their recent record highs.

Technology stocks, the biggest gainers in 2017, accounted for much of the slide. Energy companies also fell as crude oil prices finished lower. Utilities and other rate-sensitive sectors declined as bond yields hit their highest level in almost four years.

Investors weighed the latest company earnings and deal news, including Keurig's acquisition of Dr. Pepper Snapple for $16.6 billion, including debt, and looked ahead to a busy week of corporate news and economic data.

The pullback followed a big rally on Friday, which gave the stock market its biggest single-day gain since March 2017.

"It may just be we've had a really good run and people are taking profit off the table right now," said Randy Frederick, vice president of trading & derivatives at Charles Schwab.

The Standard & Poor's 500 index fell 19.34 points, or 0.7 percent, to 2,853.53. The Dow Jones industrial average slid 177.23 points, or 0.7 percent, to 26,439.48. The Nasdaq composite lost 39.27 points, or 0.5 percent, to 7,466.51. The Russell 2000 index of smaller-company stocks gave up 9.95 points, or 0.6 percent, to 1,598.11.

Falling stocks outnumbered rising ones almost five-to-one on the New York Stock Exchange.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.70 percent, the highest level in almost four years, from 2.66 percent late Friday.

The prospect for stronger economic growth, both in the U.S. and abroad, has helped drive bond yields higher. As bond yields rise it puts pressure on yield-sensitive sectors: Real estate investment trusts, telecoms and utilities. The three sectors finished more than 1 percent lower Monday and are in the red for the year.

Investors face a busy week of potential market-moving corporate news and economic data the rest of this week. Several big-name companies are due to report quarterly results on Wednesday and Thursday, including Apple, Amazon, Microsoft, Facebook and Google's parent company Alphabet.

"Combined, that's 14.3 percent of the entire S&P 500 index in five companies -- $3.6 trillion in market cap -- so this is a very important week," said Mike Baele, senior portfolio manager at U.S. Bank Private Wealth Management.

About a quarter of the companies in the S&P 500 have reported results so far this earnings season, and some 65 percent of those have delivered results that exceeded financial analysts' expectations, according to S&P Global Market Intelligence.

On Monday, Lockheed Martin added 1.9 percent after the defense contractor reported better-than-expected quarterly results. The stock rose $6.52 to $351.42.

Apple fell 2.1 percent amid growing investor worries that the iPhone X has not been a hit with customers. Shares in the technology giant have been declining for several days, erasing billions of the company's market capitalization. The stock shed $3.55 to $167.96. Apple is scheduled to report its earnings Thursday.

Beyond earnings, the market will be sizing up new data on U.S. jobs, manufacturing and consumer sentiment this week.

The Commerce Department said Monday that consumer spending rose 0.4 percent in December, a solid though slower pace than in November.

Also on investors' radar: Tuesday night's State of the Union address and a two-day meeting of the Federal Reserve's policymaking committee that wraps up Wednesday.

The Fed has signaled it expects to raise its key short-term interest rate three times this year. But some investors speculated that the growing strength in the U.S. economy and labor market could prompt the central bank to perhaps forecast an extra rate increase this year.

As for President Donald Trump's address to the nation, investors will be listening for any insights on U.S. trade policy, Baele said.

"This is one of the few prepared speeches that the president will give, so the progress on NAFTA and trade with China is something the market is going to watch carefully," Baele said.

Traders welcomed a crop of corporate deals Monday.

Dr. Pepper Snapple Group vaulted 22.4 percent after it agreed to be acquired by Keurig for $16.6 billion, including debt. The deal would create a beverage giant with about $11 billion in annual sales and a stable of brands including Dr. Pepper, 7UP, Snapple, A&W, Mott's, Sunkist and Keurig's single-serve coffee makers. Dr. Pepper Snapple added $21.42 to $117.07.

KapStone Paper and Packaging Corp. soared 30.8 percent after it agreed to be bought by rival WestRock for $35 a share, or $3.39 billion. KapStone shares gained $8.17 to $34.71. WestRock slid $1.86, or 2.6 percent, to $68.41.

Benchmark U.S. crude fell 58 cents, or about 1 percent, to settle at $65.56 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, dropped $1.06, or 1.5 percent, to close at $69.46 per barrel.

Gold, which hit an 18-month high last week, fell $11.80 to $1,340.30 an ounce. Silver dropped 31 cents, or 1.8 percent, to $17.13 an ounce. Copper slipped 1 cent to $3.19 a pound.

The dollar, which fell sharply last week, rose to 108.94 yen from 108.66 late Friday. The euro fell to $1.2389 from $1.2423.

The price of bitcoin fell 4.2 percent Monday to $11,207, according to the tracking site CoinDesk. Bitcoin futures on the Cboe Futures Exchange rose 2.1 percent to $11,170.

In other futures trading, wholesale gasoline was little changed at $1.9 a gallon. Heating oil slid 3 cents to $2.11 a gallon. Natural gas rose 13 cents, or 3.6 percent, to $3.63 per 1,000 cubic feet.

Germany's DAX and France's CAC 40 fell 0.1 percent Monday. Britain's FTSE 100 added 0.1 percent. Japan's benchmark Nikkei 225 finished flat, while Hong Kong's Hang Seng index lost 0.6 percent. South Korea's Kospi gained 0.9 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ian-shares-sink-after-pullback-on-wall-street

* US Stocks Have Biggest Drop Since August, Led by Health Care *
*Hefty losses in health care and technology companies led U.S. stocks sharply lower Tuesday, handing the market its biggest pullback since August and its worst two-day drop since May.*

By ALEX VEIGA, AP Business Writer

Hefty losses in health care and technology companies led U.S. stocks sharply lower Tuesday, handing the market its biggest pullback since August and its worst two-day drop since May.

The broad slide, which briefly sent the Dow Jones industrial average down by more than 400 points, erased some of the big gains the market had racked up since the beginning of the year, though the market was still on track to close out January with a gain.

Banks, industrial companies and energy stocks also accounted for a big slice of the market's losses. Bond prices fell, sending yields to their highest level since April 2014.

"This was a market that was overbought and it was vulnerable to something pulling it back," said Quincy Krosby, chief market strategist at Prudential Financial. "That said, we're in the heaviest part of earnings season this week and we expect to see the majority of the reports coming out to be positive. That could be the catalyst to have buyers come in."

The Standard & Poor's 500 index fell 31.10 points, or 1.1 percent, to 2,822.43. That's the biggest one-day drop since August 17. The Dow had its biggest decline since May, losing 362.59 points, or 1.4 percent, to 26,076.89. The average had been down more than 411 points.

The Nasdaq slumped 64.02 points, or 0.9 percent, to 7,402.48. The Russell 2000 index of smaller-company stocks gave up 15.29 points, or 1 percent, to 1,582.82. The market's last two-day losing streak was in late December.

Health care companies were by far the biggest losers on Tuesday. The sector finished with a loss of 2.1 percent. It's still up 8.1 percent this year.

Insurers, drugmakers and distributors slumped following news that Amazon was teaming up with JPMorgan Chase and Berkshire Hathaway to create a company that helps their U.S. employees find quality care at a reasonable cost. The venture, whose initial focus would be on developing technology, is in its early planning stage.

Express Scripts slid $2.61, or 3.2 percent, to $79.31. Cigna tumbled $16.01, or 7.2 percent, to $207.89. UnitedHealth Group lost $10.76, or 4.3 percent, to $236.65. Anthem fell $13.58, or 5.3 percent, to $243.44.

HCA bucked the trend after the hospital chain posted better fourth-quarter results than analysts had expected. The stock gained $3.83, or 3.9 percent, to $101.45.

The news gave Amazon shares a lift. The stock added $20.14, or 1.4 percent, to $1,437.82.

Technology stocks fell almost as much as health care shares. Corning lost $1.92, or 5.6 percent, to $32.33.

Bond prices continued to decline, driving up the yield on the 10-year Treasury to 2.72 percent from 2.70 percent late Monday. That's the highest the rate has been since April 2014. The yield was as low as 2.04 percent last September.

Bond yields have been rising steadily over the past few months, making bonds more appealing to investors seeking income. Rising yields can also lead to higher financing costs for companies, homebuyers and other borrowers.

"With the 10-year rate shooting above 2.7 percent, the cost of capital for equity investments also just increased," said Alexandra Coupe, associated director for Pacific Alternative Asset Management Co. "Investors are stepping back and reevaluating if their holdings can surpass this revised hurdle."

The market sell-off comes during a week with no shortage of potential market-moving corporate news and economic data.

Several big-name companies are due to report quarterly results on Wednesday and Thursday, including Apple, Amazon, Microsoft, Facebook and Google's parent company Alphabet.

Also on investors' radar: Tuesday night's State of the Union address and a two-day meeting of the Federal Reserve's policymaking committee that wraps up Wednesday.

The Fed has signaled it expects to raise its key short-term interest rate three times this year. But some investors speculated that the growing strength in the U.S. economy and labor market could prompt the central bank to perhaps forecast an extra rate increase this year.

Energy sector stocks declined along with the price of crude oil. Noble Energy fell $1.73, or 5.4 percent, at $30.40.

Benchmark U.S. crude slid $1.06, or 1.6 percent, to settle at $64.50 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, dropped 44 cents, or 0.6 percent, to close at $69.02 a barrel in London.

In other futures trading, wholesale gasoline fell 4 cents to $1.90 a gallon. Heating oil gave up 3 cents to $2.07 a gallon. Natural gas rose 3 cents, or 0.9 percent, to $3.20 per 1,000 cubic feet.

Gold fell $4.90 to $1,335.40 an ounce. Silver dropped 7 cents to $17.06 an ounce. Copper slipped 1 cent to $3.19 a pound.

The dollar, which fell sharply last week, declined to 108.78 yen from 108.94 yen late Monday. The euro rose to $1.2404 from $1.2389.

Major indexes in Europe declined amid investor worries that new data showing the eurozone grew in 2017 at its fastest pace in a decade could prompt the European Central Bank to wind down its monetary stimulus program earlier than expected.

The DAX in Germany lost 1 percent, while the CAC 40 in France fell 0.9 percent. Britain's FTSE 100 gave up 1.1 percent. Key indexes in Asia also closed lower. Japan's Nikkei 225 index lost 1.4 percent, while Hong Kong's Hang Seng dropped 1.1 percent. South Korea's Kospi sank 1.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines...stocks-mixed-after-wall-streets-sharp-decline

* After a Stumble, US Stocks Finish Slightly Higher *
*U.S. stocks overcame a brief stumble to close slightly higher Wednesday, snapping a two-day losing streak.*

By ALEX VEIGA, AP Business Writer

U.S. stocks overcame a brief stumble to close slightly higher Wednesday, snapping a two-day losing streak.

The dip came after the Federal Reserve released its latest statement on interest rate policy and the economy, in which the central bank signaled that it expects inflation to pick up this year. The Fed, as expected, held off on raising interest rates.

Stocks bounced back in the last hour of trading, with gains by technology companies outweighing losses in health care and other sectors.

The latest batch of strong earnings from big companies, including Boeing, helped put investors back in a buying mood a day after the market had its biggest drop since August.

"The markets have turned around," said Erik Davidson, chief investment officer for Wells Fargo Private Bank. "Many people have been waiting for it to dip as it's marched higher and higher, and we finally had two days of weakness, particularly yesterday."

The Standard & Poor's 500 index rose 1.38 points, or 0.1 percent, to 2,823.81. The Dow Jones industrial average added 72.50 points, or 0.3 percent, to 26,149.39. The Nasdaq composite climbed 9 points, or 0.1 percent, to 7,411.48. The Russell 2000 index of smaller-company stocks gave up 7.83 points, or 0.5 percent, to 1,574.98.

All told, the indexes ended January with solid gains.

Boeing climbed 4.9 percent after the aerospace giant's latest results topped Wall Street's expectations. The stock, which has been the biggest gainer in the Dow over the past year, added $16.66 to $354.37.

Electronic Arts led the rally in technology companies, jumping 7 percent after the video game maker forecast quarterly earnings and sales that were well ahead of what analysts expected. The stock was the biggest gainer in the S&P 500, rising $8.26 to $126.96.

Some 80 percent of the companies that have reported earnings in recent weeks have beat expectations. Typically, it's around two-thirds. Management teams are also touting stronger sales growth than in previous quarters.

"The combination is really helping drive the market higher and making investors feel more confident about the outlook for 2018," said Kate Warne, investment strategist at Edward Jones.

The market was higher for most of the day but briefly gave up its gains after the Fed released its economic and interest rate policy update.

The central bank left its benchmark interest rate unchanged in a still-low range of 1.25 percent to 1.5 percent and signaled that it expects to resume raising rates gradually to reflect an improving, healthy job market and economy.

The Fed also said that it expects inflation to finally pick up this year and to stabilize around the Fed's target level of 2 percent. In its previous statement, the Fed had predicted that inflation would remain below its target rate.

That revision appeared to put off some investors, triggering the sell-off that pulled stock indexes into the red until the last hour of trading.

"Investors have continued to think that inflation will remain below 2 percent, and the Fed is more clearly indicating that they think inflation will pick up to the 2 percent range," Warne said. "And that's led to higher long-term rates and, as a result, stocks have moved down today."

Health care stocks posted the biggest decline for the second day in a row.

Eli Lilly lost $4.64, or 5.4 percent, to $81.45, while Gilead Sciences gave up $3.49, or 4 percent, to $83.80.

Some companies' quarterly report cards failed to impress traders.

Juniper Networks slumped 7.7 percent after the provider of network equipment forecast quarterly results that were well below what Wall Street analysts expected. The stock fell more than any other company in the S&P 500, shedding $2.17 to $26.15.

Textron shares also fell after the industrial conglomerate's results fell of forecasts. The stock slid $1.51, or 2.5 percent, to $58.67.

Bond prices didn't move much. The yield on the 10-year Treasury remained at 2.72 percent after briefly moving higher.

The prospect for stronger economic growth, both in the U.S. and abroad, has helped drive bond yields higher in recent months. This week yields have hovered at the highest level since April 2014. Rising yields make bonds more appealing to investors seeking income, but they can also lead to higher financing costs for companies, homebuyers and other borrowers.

The dollar rose to 109.11 yen from 108.78 yen on Tuesday. The euro edged up to $1.2410 from $1.2404.

Gold rose $3.60 to $1,339 an ounce. Silver added 18 cents to $17.24 an ounce. Copper gained 1 cent to $3.20 a pound.

Oil prices reversed an early slide. Benchmark U.S. crude rose 23 cents to settle at $64.73 per barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, gained 3 cents to $69.05 a barrel in London.

In other futures trading, wholesale gasoline added 1 cent to $1.91 a gallon. Heating oil was little changed at $2.07 a gallon. Natural gas fell 20 cents, or 6.3 percent, to $3 per 1,000 cubic feet.

Germany's DAX fell 0.1 percent, while France's CAC 40 gained 0.1 percent. London's FTSE 100 fell 0.7 percent. In Asia, Tokyo's Nikkei 225 fell 0.8 percent, while Hong Kong's Hang Seng rose 0.9 percent. Sydney's S&P-ASX 200 added 0.3 percent.


----------



## bigdog

https://www.usnews.com/news/busines...-markets-mixed-after-fed-keeps-rate-unchanged

* US Stocks Head Mostly Lower as Early Gains Fade *
*The major U.S. stock indexes closed mostly lower Thursday after a midday gain faded by late afternoon.*

By ALEX VEIGA, AP Business Writer

The major U.S. stock indexes closed mostly lower Thursday after a midday gain faded by late afternoon.

Retailers, restaurant chains and other consumer-focused companies accounted for much of the market's pullback. The losses outweighed solid gains by financial stocks, which got a boost as climbing bond yields set the stage for higher interest rates on mortgages and other loans.

Even though January was the best month for the stock market since March 2016, the swift rise in the yield on the 10-year Treasury note, which is a benchmark for interest rates, has stoked investor worries that higher rates could dampen company earnings and hurt equity prices.

"Good earnings alone or maybe great earnings alone won't move the stock market up," said Bob Doll, chief equity strategist at Nuveen Asset Management. "We got to have a pause in the rate of increase in interest rates for the uptrend to resume."

The Standard & Poor's 500 index fell 1.83 points, or 0.1 percent, to 2,821.98. The Dow Jones industrial average climbed 37.32 points, or 0.1 percent, to 26,186.71. The Nasdaq composite lost 25.62 points, or 0.3 percent, to 7,385.86. The Russell 2000 index of smaller-company stocks picked up 4.88 points, or 0.3 percent, to 1,579.87.

Bond prices fell. The yield on the 10-year Treasury climbed to 2.79 percent from 2.71 percent late Wednesday.

The prospect for stronger economic growth, both in the U.S. and abroad, has helped drive bond yields higher in recent months. This week yields have hovered at the highest level since April 2014. Rising yields make bonds more appealing to investors seeking income, but they can also lead to higher financing costs for companies, homebuyers and other borrowers.

Those higher borrowing costs can also help lift profits for banks, credit card issuers and other types of lenders. That gave a boost to financial stocks Thursday. Lincoln National climbed $3.11, or 3.8 percent, to $85.91.

Investors continued to sift through a raft of corporate earnings reports Thursday.

About a third of the companies in the S&P 500 have reported results so far this earnings season, and some 65 percent of those have delivered both earnings and revenue that exceeded financial analysts' expectations, according to S&P Global Market Intelligence.

"From an earnings standpoint, the season has been really good and really strong," said David Lyon, global investment specialist at J.P. Morgan Private Bank. "While the numbers look good, there have been a couple of weak spots, but overall, when we look back, it's going to be a really strong earnings season."

Several companies rose after posting strong quarterly results or outlooks.

Qorvo led all gainers in the S&P 500, jumping $11.57, or 16.1 percent, to $83.34. Facebook rose 3.3 percent a day after the social media company posted strong quarter results. The stock added $6.20 to $193.09.

Shares in eBay vaulted 13.8 percent after the e-commerce company gave a strong forecast for the current quarter. The stock picked up $5.61 to $46.19.

Companies that reported disappointing results weighed on the market.

United Parcel Service slumped 6.1 percent after the packaged delivery company said that higher costs affected its business in the fourth quarter. The stock lost $7.81 to $119.51.

PayPal slid 8.1 percent after eBay said it would move to a different payment processor. PayPal shares tumbled more than any other company in the S&P 500, shedding $6.92 to $78.40.

Hershey's latest quarterly results also fell short of Wall Street's expectations. Shares in the maker of KitKat chocolate bars and Twizzlers candy fell $6.56, or 5.9 percent, to $103.77.

Benchmark U.S. crude rose $1.07, or 1.7 percent, to settle at $65.80 per barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, gained 76 cents, or 1.1 percent, to close at $69.65 per barrel in London.

The rise in oil prices helped lift some energy sector stocks. Schlumberger added $1.93, or 2.6 percent, to $75.51.

In other futures trading, natural gas slumped 14 cents, or 4.6 percent, to $2.86 per 1,000 cubic feet. Wholesale gasoline was little changed at $1.90 a gallon and heating oil rose 2 cents to $2.09 a gallon.

Gold rose $4.80 to $1,347.90 an ounce. Silver dropped 9 cents to $17.16 an ounce. Copper added 1 cent to $3.21 a pound.

The dollar rose to $109.42 yen from 109.11 yen on Wednesday. The euro strengthened to $1.2502 from $1.2410.

The price of bitcoin fell 9.7 percent to $9,178 as of 4:58 p.m. Eastern Time Thursday, according to the tracking site CoinDesk. Bitcoin futures on the Cboe Futures Exchange slid 8.8 percent to settle at $9,080.

Major stock indexes in Europe declined. Germany's DAX lost 1.4 percent, while France's CAC 40 slid 0.5 percent. Britain's FTSE 100 fell 0.6 percent.

Markets in Asia finished mixed. Japan's Nikkei 225 jumped 1.7 percent and South Korea's Kospi added 0.1 percent. Hong Kong's Hang Seng index fell 0.8 percent. Australia's S&P/ASX 200 rose 0.9 percent.


----------



## bigdog

*US Stocks Swoon, Sending Dow Down More Than 650 Points  handing the market its worst week in two years.*





https://www.usnews.com/news/busines...lower-as-investors-mull-earnings-yields-weigh

* US Stocks Swoon, Sending Dow Down More Than 650 Points *
*U.S. stocks slumped Friday, pulling down the Dow Jones industrial average by more than 650 points and handing the market its worst week in two years.*

By ALEX VEIGA, AP Business Writer

U.S. stocks slumped Friday, pulling down the Dow Jones industrial average by more than 650 points and handing the market its worst week in two years.

Technology, banks and energy stocks accounted for much of the broad slide. Several major companies, including Exxon Mobil and Google's parent company, Alphabet, sank after reporting weak earnings.

Fears of rising inflation sent bond yields higher and contributed to the stock market swoon after the government reported that wages grew last month at the fastest pace in eight years.

The sharp drop follows a long period of unprecedented calm in the market. Stocks haven't had a pullback of 10 percent or more in two years, and hit their latest record highs just one week ago.

"We've enjoyed low interest rates for so long, we're having to deal with a little bit higher rates now, so the market is trying to figure out what that could mean for inflation," said Darrell Cronk, head of the Wells Fargo Investment Institute.

The increase in bond yields hurts stocks in two ways: it makes it more expensive for companies to borrow money, and it also makes bonds more appealing to investors than riskier assets such as stocks.

The Standard & Poor's 500 index fell 59.85 points, or 2.1 percent, to 2,762.13. That's the biggest loss for the benchmark index since September 2016. The S&P 500 has lost 3.9 percent since hitting a record high a week ago.

The Dow Jones industrial average lost 665.75 points, or 2.4 percent, to 25,520.96. The Nasdaq slid 144.92 points, or 2 percent, to 7,240.95. The Russell 2000 index of smaller-company stocks gave up 32.59 points, or 2.1 percent, to 1,547.27.

While interest rates are still low by historical standards, meaning borrowing is still relatively cheap for businesses and people, they've been rising more swiftly, and that's what has markets on edge.

"The pace of rate increases is more important than the level," said Nate Thooft, senior portfolio manager at Manulife Asset Management.

The increase in rates has been driven by the prospect of stronger economic growth, and higher inflation, in the U.S. and abroad.

Bond prices declined again Friday, pushing yields higher. The yield on the 10-year Treasury note, a benchmark for interest rates on many kinds of loans, including mortgages, climbed to 2.83 percent, the highest level in roughly four years. The rate was at 2.41 percent four weeks ago and 2.66 percent on Monday.

"Once we started going north of 2.5 percent, and you put that together with an overbought market, it had the ingredients of a sell-off, especially since January was so strong," said Jeff Zipper, regional investment strategist at U.S. Bank Private Wealth Management.

The S&P 500, which many index funds track, soared 5.6 percent in January, its biggest monthly gain since March 2016.

The expectation among investors has long been for a gradual rise in interest rates, as the Federal Reserve slowly pulls back from the stimulus that it implemented for the economy amid the Great Recession. But if rates rise more quickly than expected, it could upset markets.

The key concern is that the Fed will respond to higher inflation by raising its key interest rate more quickly than expected. The government's latest job and wage data stoked those concerns Friday.

U.S. employers added a robust 200,000 jobs in January, slightly above market expectations for an 185,000 increase. Meanwhile wages rose sharply, suggesting employers are competing more fiercely for workers. The figures point to an economy on strong footing even in its ninth year of expansion, fueled by global economic growth and healthy consumer spending at home.

That's good news for Main Street USA, but not for Wall Street. Investors fear the pickup in hourly wages, along with a recent uptick in inflation, may make it more likely that the Fed will raise short-term interest rates more quickly in the coming months. Some economists were predicting Friday that the central bank will raise its benchmark rate four times this year, rather than the three times most previously expected.

"With financial conditions continuing to ease and core price inflation also starting to pick up, we expect this will persuade the Fed to hike rates four times this year," Andrew Hunter, an economist with Capital Economics, wrote in a published note Friday.

The market slide may have been overdue, particularly after the strong start for stocks this year where the S&P 500 had its best January in two decades.

The global economy is still strong, corporate profits and sales have been better than expected this reporting season and buyers for stocks still remain, all reasons to be optimistic about stocks, said Nate Thooft, senior portfolio manager at Manulife Asset Management.

"It's appealing, these 2 to 3 percent pullbacks," said Thooft, who had been trimming some of his stock holdings after the market's big January gains. "We look at this and say, 'Maybe it's your first day to buy a little bit.'"

4421


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## bigdog

* Dow Plunges 1,175 Points in Worst Day for Stocks Since 2011 *
*The Dow Jones industrial average briefly plunged as much as 1,600 points as a market rout that began Friday deepened.*






https://www.usnews.com/news/busines...-extend-global-losses-after-wall-streets-rout

*Dow Plunges 1,175 Points in Worst Day for Stocks Since 2011 *
*The Dow Jones industrial average briefly plunged as much as 1,600 points as a market rout that began Friday deepened.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — The Dow Jones industrial average plunged more than 1,100 points Monday as stocks took their worst loss in six and a half years. Two days of steep losses have erased the market's gains from the start of this year and ended a period of record-setting calm for stocks.

Banks fared the worst as bond yields and interest rates nosedived. Health care, technology and industrial companies all took outsize losses and energy companies sank with oil prices.

At its lowest ebb, the Dow was down 1,597 points from Friday's close. That came during a 15-minute stretch where the 30-stock index lost 700 points and then gained them back.

Market pros have been predicting a pullback for some time, noting that declines of 10 percent or more are common during bull markets. There hasn't been one in two years, and by many measures stocks had been looking expensive.

"It's like a kid at a child's party who, after an afternoon of cake and ice cream, eats one more cookie and that puts them over the edge," said David Kelly, the chief global strategist for JPMorgan Asset Management.

Kelly said the signs of inflation and rising rates are not as bad as they looked, but after the market's big gains in 2017 and early 2018, stocks were overdue for a drop.

The Dow finished down 1,175.21 points, or 4.6 percent, at 24,345.75.

The Standard & Poor's 500 index, the benchmark most professional investors and many index funds use, skidded 113.19 points, or 4.1 percent, to 2,648.94. That was its biggest loss since August 2011, when investors were fearful about European government debt and the U.S. came close to breaching its debt ceiling.

The Nasdaq composite fell 273.42 points, or 3.8 percent, to 6,967.53. The Russell 2000 index of smaller-company stocks sank 56.18 points, or 3.6 percent, for 1,491.09.


The slump began on Friday as investors worried that creeping signs of higher inflation and interest rates could derail the U.S. economy along with the market's record-setting rally. Energy companies, banks, and industrial firms are taking some of the worst losses.

The S&P 500 has fallen 7.8 percent since January 26, when it set its latest record high. Investors are worried about evidence of rising inflation in the U.S. Increased inflation might push the Federal Reserve to raise interest rates more quickly, which could slow down economic growth by making it make it more expensive for people and businesses to borrow money. And bond yields haven't been this high in years. That's making bonds more appealing to investors compared with stocks.

The stock market has been unusually calm for more than a year. The combination of economic growth in the U.S. and other major economies, low interest rates, and support from central banks meant stocks could keep rising steadily without a lot of bumps along the way. Experts have been warning that that wouldn't last forever.

As bad as Monday's drop is, the market saw worse days during the financial crisis. The Dow's 777-point plunge in September 2008 was equivalent to 7 percent, far bigger than Monday's decline.

Stocks hadn't suffered a 5 percent drop since the two days after Britain voted to leave the European Union in June 2016. They recovered those losses within days.

The last 10 percent drop for markets came in early 2016, when oil prices were plunging as investors worried about a drop in global growth, which could have sharply reduced demand. U.S. crude hit a low of about $26 a barrel in February of that year. A drop of 10 percent from a peak is referred to on Wall Street as a "correction."


Wells Fargo sank $5.91, or 9.2 percent, to $58.16. Late Friday the Fed said it will freeze Wells Fargo's assets at the level where they stood at the end of last year until it can demonstrate improved internal controls. The San Francisco bank also agreed to remove four directors from its board.

Benchmark U.S. crude oil fell $1.30, or 2 percent, to $64.15 a barrel in New York. Brent crude, the standard for international oil prices, lost 96 cents, or 1.4 percent, to $67.62 a barrel in London.

Bond prices tumbled after moving sharply higher on Friday. The yield on the 10-year Treasury slipped to 2.73 percent from 2.84 percent. That hurt banks by sending interest rates lower, which means banks can't charge as much money for mortgages and other types of loans.

The dollar fell to 109.70 yen from 110.28 yen. The euro slipped to $1.2399 from $1.2451.

Gold declined 80 cents to $1,336.50 an ounce. Silver dipped 4 cents to $16.67 an ounce. Copper rose 3 cents to $3.22 a pound.

Stocks in Europe also fell. Leading political parties in Germany, which is the largest economy in Europe, have struggled to form a government. Chancellor Angela Merkel's conservative Union bloc and the center-left Social Democrats are still in talks about extending their alliance of the past four years.

Britain's FTSE 100 lost 1.5 percent while France's CAC 40 slid 1.5 percent. The DAX in Germany shed 0.8 percent.

Japan's benchmark Nikkei 225 tumbled 2.6 percent and the South Korean Kospi shed 1.3 percent. Hong Kong's Hang Seng index sank 1.1 percent.


----------



## bigdog

*Dow turns 567 point loss into 567 point gain as stocks rally*






https://finance.yahoo.com/m/8a2179d...37c2ffa/ss_dow-turns-567-point-loss-into.html

*Dow turns 567 point loss into 567 point gain as stocks rally*




MARLEY JAY

NEW YORK (AP) — U.S. stocks rallied Tuesday as a late surge helped them regain almost half their losses from the day before, when they had their biggest plunge in 6 ½ years. That came at the end of a day of huge swings for the market.

Major indexes in Asia and Europe took steep losses and U.S. markets started sharply lower, only to repeatedly change direction. After its 1,175-point nosedive Monday, the Dow Jones industrial average lost 567 points right after trading began. After numerous turns higher and lower, it wound up with a gain, coincidentally, of 567.

Despite the turbulence, Tuesday's trading looked similar to the patterns that have shaped the market for the last year: investors bought companies that do well when economic growth is strongest. Gainers included technology companies, retailers like Amazon and Home Depot, and industrial companies and banks.

Bond yields turned higher after a sharp drop Monday. As a result, the biggest losses went to high-dividend companies such as utility and real estate companies, which investors often buy as an alternative to bonds. When bond yields rise, those stocks become less appealing to investors seeking income. The yield on the 10-year Treasury note rose to 2.80 percent from 2.71 percent.

The Dow finished 567.02 points higher, or 2.3 percent, at 24,912.77.

The Standard & Poor's 500 index, a broader market barometer that many index funds track, climbed 46.20 points, or 1.7 percent, to 2,965.14. The Nasdaq composite rose 148.36 points, or 2.1 percent, to 7,115.88.

The steep drops Friday and Monday wiped out the gains the Dow and S&P 500 made since the beginning of the year, but both remain higher over the past 12 months. The Dow is up 24 percent over that time, the S&P 500 18 percent.

Even after Tuesday's gain, the S&P 500 is still down 6.2 percent from the recent record high it set on January 26. That's less than the 10 percent drop that is known on Wall Street as a "correction."

Corrections are seen as entirely normal during bull markets, and even helpful in curbing excessive gains and allowing new investors to buy into the market at lower prices. It has been an uncommonly long time since the last market correction, which ended almost two years ago.

Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management, said the plunge wasn't caused by inflation fears alone. The markets have been unusually calm since late 2016, and he said investors were betting that would continue.

"People were positioned for more central bank easing or continued central bank easing, low rates, and importantly, low volatility," he said. "Corrections are caused by people having to reposition for new environments."

Investors remain fearful that signs of rising inflation and higher interest rates could bring an end to the bull market that has sent stocks to record high after record high in recent years.

Friday's U.S. jobs report showed wages grew at a faster pace in January, and investors worried that that means inflation is speeding up, and that the Federal Reserve will have to raise interest rates faster than previously expected in order to keep that inflation in check. Higher rates act like a brake on the economy by slowing down borrowing and lending.

Schutte, of Northwestern Mutual, added that corrections can end quickly, and they often do so when investors see evidence of continued economic growth. Experts do think the global economy will keep growing this year even though that is likely to bring more inflation. Schutte said that as central banks stop propping up the market, trading will probably be more volatile in the next few years.

Travel bookings site TripAdvisor was one of only two S&P 500 companies that finished higher on Monday. On Tuesday it rallied another $5.22, or 14.7 percent, to $40.84.

U.S. crude oil fell 76 cents, or 1.2 percent, to close at $63.39 a barrel in New York. Brent crude, the benchmark for international oil prices, lost 76 cents, or 1.1 percent, to $66.86 a barrel in London.

Wholesale gasoline lost 4 cents to $1.81 a gallon. Heating oil dipped 3 cents to $1.99 a gallon. Natural gas added 1 cent to $2.76 per 1,000 cubic feet.

Investors often buy gold when they're worried about market volatility, but they aren't doing that now. Gold fell $7, or 0.5 percent, to $1,329.50 an ounce and silver dipped 9 cents, or 0.5 percent, to $16.58 an ounce.

Among the biggest losers Tuesday was Tokyo's Nikkei 225 stock average, which ended 4.7 percent lower. Hong Kong's Hang Seng skidded 5.1 percent and South Korea's Kospi declined 1.5 percent.

In Europe, Germany's DAX fell 2.3 percent and the CAC 40 in France lost 2.3 percent. The British FTSE 100 index fell 2.6 percent.

In other commodities trading, copper fell 3 cents to $3.19 a pound.

The dollar fell to 109.33 yen from 109.70 yen. The euro dipped to $1.2392 from $1.2399.

On Monday, the Dow finished down 4.6 percent while the S&P 500 sank 4.1 percent. The last fall of that size came in August 2011 when investors were fretting over Europe's debt crisis and the debt ceiling impasse in Washington that prompted a U.S. credit rating downgrade.


----------



## bigdog

https://www.washingtonpost.com/nati...6deb18cca19_story.html?utm_term=.5e21b948108d

*Stocks rally, wobble, then end lower as turbulence continues*

By Marley Jay | AP February 7 at 5:16 PM
NEW YORK — It was another shaky day on Wall Street as indexes rallied in the morning, bobbed up and down for much of the day, then sank in the last few minutes of trading. Energy companies dropped along with oil prices and technology companies also declined.

Stocks were coming off a big gain on Tuesday. At times investors looked ready to jump back in after steep losses Friday and Monday, yet every gain the market made was met with more selling. About 20 minutes before the close of trading the Dow Jones industrial average was up more than 260 points, but it finished with a small loss.

After two steep plunges, including its worst loss in six and a half years Monday, the S&P 500 is down 6.7 percent from its most recent record high set on January 26.

While markets were noticeably calmer on Wednesday, there are signs that investors are still far more nervous than they were just a few days ago. The VIX, which is called Wall Street’s “fear gauge” because it measures how much volatility investors expect in the future, is currently at 27, more than double where it was two weeks ago. It spiked above 50 early Tuesday.

“The markets had blinders on,” said Invesco Chief Global Markets Strategist Kristina Hooper. “I thought it was almost alarming that markets weren’t considering that, for example, we have a different (Federal Reserve) in 2018 that could be more hawkish.”

Stocks tumbled Friday after the Labor Department said that workers’ wages rose in January at their fastest pace in eight years. That’s good for the economy, but Hooper noted that higher pay to workers can reduce corporate profits, and those profits are the stock market’s fuel. And while higher pay affects company profits quickly, it can take a long time for workers to start spending more money after they get a raise.

The Standard & Poor’s 500 index lost 13.48 points, or 0.5 percent, to 2,681.66. The Dow slid 19.42 points, or 0.1 percent, to 24,893.35. The Nasdaq composite fell 63.90 points, or 0.9 percent, to 7,051.98. Smaller companies fared better than the rest of the market, and more stocks rose than fell on the New York Stock Exchange.

The gap between the Dow’s highest and lowest levels on Wednesday was about 500 points, or 2 percent. That big, but it’s dwarfed by the lurching moves the market made the last few days.

While investors may still be uncertain about where stocks are going, they’re not rushing for cover in ultra-safe investments like bonds. Bond prices fell, sending yields higher. The yield on the 10-year Treasury note, a benchmark for mortgages and other kinds of loans, rose to 2.84 percent from 2.81 percent.

Other safe-play investments also fell. The price of gold fell $14.90, or 1.1 percent, to $1,314.60 an ounce and silver lost 34 cents, or 2.1 percent, to $16.24 an ounce.

Precious metals prices often rise when the market hits a rough patch. They climbed in December and January and have actually decreased over the last few days.

Global markets mostly rose and appeared calmer Wednesday. Germany’s DAX was up 1.6 percent while the British FTSE 100 index rose 1.9 percent. The CAC 40 in France picked up 1.8 percent. Hong Kong’s Hang Seng fell 0.9 percent while Japan’s Nikkei 225 stock average closed up 0.2 percent. The Kospi in South Korea fell 2.3 percent.

The biggest technology companies fared the worst. Apple fell $3.49, or 2.1 percent, to $159.54 and Facebook lost $5.13, or 2.8 percent, to $180.18. Alphabet, Google’s parent company, lost $29.092, or 2.7 percent, to $1,055.41.

Wynn Resorts jumped $14.10, or 8.6 percent, to $177.32 after Steve Wynn resigned as chairman and CEO. The Wall Street Journal reported last month that a number of women accused Wynn of sexual harassment or assault, and said Wynn paid $7.5 million to settle one such case.

Wynn has denied the accusations but said he could not be effective in his corporate positions in the face of those allegations. Wynn stock has fallen 11.6 percent since the Journal’s report.

Energy companies fell as oil prices sank. Benchmark U.S. crude dropped $1.60, or 2.5 percent, to $61.79 a barrel in New York. Brent crude, the international standard for oil prices, lost $1.35, or 2 percent, to $65.51 a barrel in London. That came after the U.S. government said oil production jumped last week, raising concerns about an increase in the supply of crude. Supplies of gasoline and diesel also rose.

Newspaper publisher Tronc soared $3.45, or 19.1 percent, to $21.55 after it agreed to sell the Los Angeles Times and a group of other newspapers to Dr. Patrick Soon-Shiong, a major Tronc shareholder and former board member, for $500 million.

Snap, the parent of Snapchat, the disappearing-message application, rose $6.69, or 47.6 percent, to $20.75 after it reported strong user growth and greater-than-expected revenue in the fourth quarter. The stock went public in March and traded above $29 a share shortly after its initial public offering.

In other commodities trading, wholesale gasoline fell 4 cents to $1.77 a gallon. Heating oil lost 5 cents to $1.93 a gallon. Natural gas skidded 6 cents to $2.70 per 1,000 cubic feet. Copper fell 10 cents, or 3.2 percent, to $3.09 a pound.

The dollar edged up to 109.42 yen from 109.33 yen. The euro fell to $1.2276 from $1.2392.


----------



## bigdog

* Dow Industrials Drop Another 1,000 Points Selling Spreads *
*Stocks plunged again, sending the Dow industrials down 1,000 points, as investors continued to get out of the market after signs of rising inflation last week.*






https://www.usnews.com/news/busines...xed-in-skittish-trading-after-wall-st-decline

* Dow Industrials Drop Another 1,000 Points Selling Spreads *
*Stocks plunged again, sending the Dow industrials down 1,000 points, as investors continued to get out of the market after signs of rising inflation last week.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks plunged again Thursday, and for the second time in four days the Dow Jones industrial average sank more than 1,000 points.

The two best-known stock market indexes, the Dow and the Standard & Poor's 500, have dropped 10 percent from their all-time highs, set Jan. 26. That means they are in what is known on Wall Street as a "correction," their first in almost two years.

Stocks fell further and further as the day wore on and suffered their fifth loss in the last six days. Many of the companies that led the market's gains over the last year have struggled badly in the last week. Those included technology companies, banks, and retailers and travel companies and homebuilders.

After huge gains in the first weeks of this year, stocks started to tumble last Friday after the Labor Department said workers' wages grew at a fast rate in January. That's good for the economy, but investors worried it will hurt corporate profits and that rising wages are a sign of faster inflation. It could prompt the Federal Reserve to raise interest rates at a faster pace, which would act as a brake on the economy.

"Far and away the most important things are the fear that the Fed is going to make a mistake, and higher wages are going to cut into margins," said Scott Wren, senior global equity strategist for Wells Fargo Investment Institute. The worry, he said, is that the Fed will raise interest rates too quickly.

The Dow Jones industrial average lost 1,032.89 points, or 4.1 percent, to 23,860.46. Boeing, Goldman Sachs and Home Depot took some of the worst losses.

*RELATED CONTENT*
 
*Don't Worry About Market Volatility*
The S&P 500, the benchmark for many index funds, shed 100.66 points, or 3.8 percent, to 2,581. It hasn't been that low since mid-November. The Nasdaq composite fell 274.82 points, or 3.9 percent, to 6,777.16.


Tom Martin, senior portfolio manager with Globalt Investments, said he didn't see anything specific moving the market lower today, just a continuation of a shift in investor mindset from fear of missing out in a rising market to worry of clocking big losses in a market that's turned.

"This is going to take longer to work out than people expect," he said. "In January we talked about fear of missing out. What we have now is what I call fear of getting caught."

The losses were broad. Eight stocks fell for every one that rose on the New York Stock Exchange and 490 of the companies in the S&P 500 took a loss.

The market didn't get much help Thursday from company earnings reports, several of which disappointed investors. While U.S. companies mostly did well at the end of 2017, a number of them had a weak finish to the year.

Hanesbrands, which makes underwear, T-shirts and socks, reported a smaller profit than investors expected, and its forecast for the current year didn't live up to analysts' estimates either. The company also said it will pay $400 million to buy Australian retailer Bras N Things. The stock dropped $2.39, or 10.9 percent, to $19.57.

IRobot, which makes Roomba vacuums, plummeted 32 percent after projected a smaller annual profit than Wall Street was expecting. The stock dropped $28.24 to $59.80.

Twitter had a banner day, soaring 12 percent after turning in a profit for the first time. Its fourth-quarter revenue was also better than expected. The stock rose $3.27 to $30.18.

Online delivery company GrubHub soared after it announced a partnership with Yum Brands, the parent of Taco Bell and KFC. GrubHub will provide the delivery people and technology to let people order food from those restaurants. GrubHub jumped $19.13, or 27.4 percent, to $89.04.


*RELATED CONTENT*
 
*Alternatives for Investors as Stocks Drop*
After a sharp loss Wednesday, benchmark U.S. crude lost 64 cents, or 1 percent, to $61.15 a barrel in New York. Brent crude, the international standard for oil prices, gave up 70 cents, or 1.1 percent, to $64.81 per barrel in London.

Stocks in Europe declined and bond yields increased after the Bank of England said could raise interest rates in coming months because of the strong global economy. That also sent the pound higher. Britain's FTSE 100 fell 1.5 percent and the French CAC 40 lost 2 percent. Germany's DAX declined 2.6 percent.

Bond prices wobbled and turned higher. The yield on the 10-year Treasury note rose to 2.83 percent from 2.84 percent. Rising yields have made bonds more appealing to some investors compared to stocks. The yield on the 10-year note was as low as 2.04 percent as recently as September.

In other commodities trading, wholesale gasoline remained at $1.77 a gallon. Heating oil lost 1 cent to $1.92 a gallon. Natural gas gave up 1 cent to $2.70 per 1,000 cubic feet.

In Tokyo the Nikkei 225 index rose 1.1 percent. South Korea's Kospi gained 0.5 percent and the Hang Seng of Hong Kong rose 0.4 percent.


----------



## bigdog

https://www.usnews.com/news/busines...plunge-after-major-us-index-enters-correction

* US Stocks Swing Back to Gains, Dow up 330 on Turbulent Day *
*Wall Street caps day of wild swings with a rally; Dow climbs 330 points.*

By ALEX VEIGA, AP Business Writer

Wall Street capped a day of wild swings Friday with a late-afternoon rally that reversed steep early losses and sent the Dow Jones industrial average 330 points higher. Even with the rebound, this was the worst week for the market in about two years.

Stocks struggled to stabilize much of the day as investors sent prices climbing, then slumping in unsteady trading a day after the market entered its first correction in two years.

The up-and-down swings followed a drop of 10 percent from the latest record highs set by major U.S. indexes just two weeks ago. At midday, the market was on pace for its worst weekly decline since October 2008, at the height of the financial crisis.

The Dow briefly sank 500 points in afternoon trading after surging more than 349 points earlier in the day. The blue chip average suffered its second 1,000-point drop in a week on Thursday.

The Standard & Poor's 500 index, the benchmark for many index funds, also wavered between gains and losses.

As of Thursday, some $2.49 trillion in value had vanished from the index since its most recent peak on Jan. 26, according to S&P Dow Jones Indices.

"Equities have traded in a roller coaster fashion all week and today is no exception," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. "There's a fair amount of volatility in the market, and our belief is the volatility is leaving investors riddled with stress and uncertainty, which is likely to continue."

The S&P 500 rose 38.55 points, or 1.5 percent, to 2,619.55. The Dow gained 330.44 points, or 1.4 percent, to 24,190.90. The Nasdaq composite added 97.33 points, or 1.4 percent, to 6,874.49.

Technology companies accounted for most of the broad gains, outweighing losses in energy stocks, which slumped as U.S. crude prices declined, sending the price of oil below $60 a barrel for the first time this year.

Bond prices fell. The yield on the 10-year Treasury rose to 2.85 percent from 2.83 percent late Thursday.

Some companies rose after reporting quarterly results and outlooks that beat Wall Street's forecasts. Skechers USA climbed $2.88, or 7.5 percent, to $41.06. Chipmaker Nvidia added $14.56, or 6.7 percent, to $232.08.

Expedia slumped after its latest earnings fell short of analysts' expectations. The travel website's 2018 outlook also disappointed investors. Its shares sank $19.03, or 15.5 percent, to $104.

The turbulence in U.S. stock indexes followed a broad slide in global markets.

In Europe, Germany's DAX fell 1.2 percent, while France's CAC 40 lost 1.4 percent. Britain's FTSE 100 shed 1.1 percent. Asian markets fell more sharply. Tokyo's Nikkei 225 lost 2.3 percent and Hong Kong's Hang Seng gave up 3.1 percent.

U.S. stocks started to tumble last week after the Labor Department said workers' wages grew at a fast rate in January.

Investors worried that rising wages will hurt corporate profits and could signal an increase in inflation that could prompt the Federal Reserve to raise interest rates at a faster pace, putting a brake on the economy.

On Wall Street, many companies that rose the most over the last year have borne the brunt of the selling. Facebook and Boeing have both fallen sharply.

Financial analysts regard corrections as normal events but say the latest unusually abrupt plunge might have been triggered by a combination of events that rattled investors. Those include worries about a potential rise in U.S. inflation or interest rates and budget disputes in Washington.

The market, currently in its second-longest bull run of all time, had not seen a correction for two years, an unusually long time. Many market watchers have been predicting a pullback, saying stock prices have become too expensive relative to company earnings.

What many failed to predict, however, is the S&P 500's blazing slide from a record high on Jan. 26 to a drop of 10 percent on Thursday.

"The S&P 500 hasn't moved into correction mode this quickly, ever," said Lindsey Bell, investment strategist at CFRA Research. It's taken nine days to go from the January 26 peak to where we are today."

American employers are hiring at a healthy pace, with unemployment at a 17-year low of 4.1 percent. The housing industry is solid, and manufacturing is rebounding.

Major economies around the world are growing in tandem for the first time since the Great Recession, and corporate profits are on the rise. That combination usually carries stocks higher. But stock prices have climbed faster than profits in recent years.

Many investors justified that by pointing out that interest rates were low and few alternatives looked like better investments. Fast rising interest rates would make that argument much less persuasive.

5810


----------



## bigdog

*Markets in Japan were closed for a holiday.*






https://www.usnews.com/news/busines...markets-mostly-higher-after-wall-street-gains

* Stocks Power Higher After a Dreadful Week; Dow Jumps 410 *
*Stocks jump again as the market claws back some of its massive losses last week, when it slumped into a 'correction' for the first time in two years. The Dow gained 410 points.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks powered higher Monday, sending the Dow Jones industrial average up 410 points, as the market clawed back more of its massive losses from the previous two weeks.

Apple jumped 4 percent and led a rally in technology companies, while industrial companies, banks, and consumer-focused companies like retailers also rose.

Netflix and Amazon surged again as stocks that led the market higher in 2017 recovered more of the ground they lost recently. Energy companies got some relief as oil prices turned higher. All of that helped stocks build on the market's gains from late Friday.

Some market watchers say the recent bout of turbulence may not be over. Jim Paulsen, chief investment strategist for the Leuthold Group, said he thinks stocks and bonds will fall further as investors consider the likelihood that interest rates will keep rising and inflation will increase. Inflation and higher wages can cut into company profits, and higher interest rates slow down economic growth.

"The catalyst behind this bull market up until maybe the last year or so has just been the ability of this economy to grow, even if it's very sluggishly (...) without creating any negative consequences for the financial markets," he said.

Paulsen said the consumer prices report Wednesday or the February employment report due next month could both have major effects on the market.

The Standard & Poor's 500, the benchmark for many index funds, gained 36.45 points, or 1.4 percent, to 2,656. The Dow climbed 410.37 points, or 1.7 percent, to 24,601.27. It had risen as much as 574 earlier, led by big gains for Boeing and Apple.

The Nasdaq composite advanced 107.47 points, or 1.6 percent, to 6,981.96. The Russell 2000 index of smaller-company stocks rose 13.15 points, or 0.9 percent, to 1,490.98.

It took just nine days for stocks to plunge 10 percent from their latest peak, which was reached on January 26. A drop of that size is known on Wall Street as a market "correction." According to LPL Financial, it was the swiftest move from a record high to a correction in the history of the S&P 500. The index rose 1.5 percent Friday but still wound up with its worst weekly loss in more than two years.

Despite the two-day recovery, the S&P 500 is down 7.5 percent from its record high, and investors expect far more volatility in the stock market than they did two weeks ago.

That comes after a remarkably calm year for stocks: there were only eight days in 2017 where the S&P 500 rose or fell at least 1 percent. But it's happened six times in the last seven trading days, and eight times since the market's peak Jan. 26. That includes several drops that were far larger than anything the market endured last year.

Other gainers in the technology industry included Cisco Systems, which rose $1.07, or 2.7 percent, to $40.60. Chipmakers Broadcom and Qualcomm each climbed after CNBC reported that the companies will meet this week to discuss Broadcom's $121 billion offer to buy Qualcomm.

Retailers, apparel makers and other companies that focus on consumers made some of the largest gains, a sign that investors expect shoppers to keep spending and the economy to keep growing.

Benchmark U.S. crude gained 9 cents to $59.29 a barrel in New York. Brent crude, used to price international oils, lost 20 cents to $62.59 a barrel in London.

Oil prices have dropped since reaching long-time highs in late January, when U.S. crude peaked at $66 a barrel. The S&P 500 energy index is down 12.7 percent over the last month.

Defense contractor General Dynamics will spend almost $7 billion to buy internet technology company CSRA. The Trump administration has been pushing defense spending aggressively higher. CSRA climbed $9.57, or 31.1 percent, to $40.39 Monday. General Dynamics lost $2.57, or 1.2 percent, to $209.53.

Twenty-First Century Fox picked up 66 cents, or 1.9 percent, to $36.40 after The Wall Street Journal reported that cable and internet provider Comcast is still interested in buying Fox's entertainment divisions and could make another offer. Disney agreed to buy Fox's movie and television studios and some cable and international TV businesses in December for $52.4 billion.

Comcast fell 3 cents to $38.54 while Disney added 30 cents to $103.39.

Bond prices were little changed. The yield on the 10-year Treasury note stayed at 2.86 percent.

In other energy trading, wholesale gasoline fell 2 cents to $1.68 a gallon. Heating oil fell 2 cents to $1.84 a gallon. Natural gas slid 3 cents to $2.55 per 1,000 cubic feet.

The dollar rose to 108.67 yen from 108.53 yen. The euro rose to $1.2284 from $1.2231.

Gold rose $10.70 to $1,326.40 an ounce. Silver jumped 43 cents, or 2.7 percent, to $16.57 an ounce. Copper added 5 cents, or 1.7 percent, to $3.09 a pound.

Germany's DAX jumped 1.4 percent while the CAC 40 in France and the British FTSE 100 both advanced 1.2 percent.

Hong Kong's Hang Seng lost 0.2 percent and Seoul's Kospi rose 0.9 percent. Markets in Japan were closed for a holiday.


----------



## bigdog

https://www.usnews.com/news/busines...lifted-by-wall-street-rally-nikkei-falls-back

* Stocks Edge Higher as a 3-Day Win Streak Restores Some Calm *
*Stocks shake off a slow start and finish higher for the third day in a row as banks and technology companies climb.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks rose for the third day in a row Tuesday, led by banks, retailers and technology companies. The rebound over the last few days follows a harrowing drop of more than 10 percent over the previous two weeks.

After a wobbly start, stocks started climbing in the early afternoon and wound up with their most placid day in the last few weeks.

Amazon climbed once again, and athletic apparel companies rose following solid fourth-quarter results from Under Armour.

Apple continued to recoup some of its recent losses. Energy companies slipped again, and companies that distribute prescription drugs and medical supplies slumped.

Stocks have been making big swerves higher and lower recently. Last week the Dow Jones industrial average twice fell 1,000 points in a day, sometimes gaining or losing hundreds of points in a few minutes. But on Tuesday, the gap between the Dow's highest mark and its lowest was a more modest 284 points.

Mark Hackett, chief of investment research at Nationwide Investment Management, said investors who have steered clear of the stock market started to pile in over the last few months, but that round of buying ended abruptly.

"The pattern that we saw over the last month and a half is not by any stretch of the imagination unusual," he said, "But it is compressed. It normally doesn't happen over a six-week period."

Hackett said he feels stocks have fallen to more reasonable prices, partly because of the market slump and partly because corporate earnings grew at a strong clip in the fourth quarter.

The Standard & Poor's 500 index rose 6.94 points, or 0.3 percent, to 2,662.94. The Dow added 39.18 points, or 0.2 percent, to 24,640.45. The Nasdaq composite gained 31.55 points, or 0.5 percent, to 7,013.51. The Russell 2000 index of smaller-company stocks finished up 3.97 points, or 0.3 percent, at 1,494.95.

On Wednesday the Labor Department will issue its monthly report on consumer prices. Investors will be watching carefully because the recent bout of market volatility was touched off by worries that inflation might be increasing.

Under Armour climbed after it reported better-than-expected sales as shoe and accessory revenue picked up. The stock had plunged 50 percent in 2017 on top of a 30 percent decline in 2016. It rose $2.47, or 17.2 percent, to $16.70. Athletic apparel retailer Foot Locker also gained ground.

Amazon climbed $28.28, or 2 percent, to $1,414.51, and dollar stores, department stores and clothing companies made gains as well.

Prescription drug distributor AmerisourceBergen jumped $8.32, or 9.3 percent, to $97.77 after The Wall Street Journal reported that Walgreens Boots Alliance wants to buy the rest of the company. It already owns 26 percent of AmerisourceBergen, one of the largest prescription drug distributors in the U.S. It also distributes products to hospitals and other health systems. The Wall Street Journal said Walgreens made an approach several weeks ago that no offer has been made. Walgreens lost 17 cents to $68.29.

Separately, the Journal reported that Amazon is looking to win over hospitals and clinics to distribute a variety of medical products. Two other distributors of prescription drugs also fell. Cardinal Health lost $2.34, or 3.4 percent, to $65.69 and McKesson fell $2.84, or 1.9 percent, to $146.18.

In January Amazon announced a partnership with JPMorgan Chase and Berkshire Hathaway aimed at reducing health care costs. It's widely believed to have designs on a larger role in the health care system.

The Federal Trade Commission said it is suing three large dental product suppliers for conspiring to deny discounts to groups that buy products for small practices. Henry Schein, Patterson, and privately-held Benco control 85 percent of the $10 billion market for products like gloves, sterilization products, lights and dentists' chairs.

The companies rejected the allegations and said they will defend themselves in court. Henry Schein fell $4.79, or 6.6 percent, to $67.39 and Patterson sank $1.71, or 5.2 percent, to $31.21.

Nutrition supplement company GNC Holdings soared 18 percent after it formed a joint venture with Harbin Pharmaceutical Group of China. Harbin is investing $300 million in GNC, which will make it the company's largest shareholder. The stock rose 76 cents to $4.96.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.83 percent from 2.86 percent.

Energy companies declined, and benchmark U.S. crude fell 10 cents to $59.19 a barrel in New York. Brent crude, used to price international oils, added 13 cents to $62.72 a barrel in London.

Wholesale gasoline add 1 cent to $1.69 a gallon. Heating oil stayed at $1.84 a gallon. Natural gas rose 4 cents to $2.59 per 1,000 cubic feet.

Gold rose $4 to $1,330.40 an ounce. Silver slipped 4 cents to $16.53 an ounce. Copper climbed 8 cents to $3.16 a pound.

The dollar fell to 107.69 yen from 108.67 yen. The euro rose to $1.2355 from $1.2284.

Germany's DAX shed 0.7 percent and the CAC 40 of France fell 0.6 percent. Britain's FTSE 100 lost 0.1 percent. Japan's Nikkei 225 lost 0.7 percent and Hong Kong's Hang Seng index added 1.4 percent. South Korea's Kospi rose 1.1 percent.


----------



## bigdog

http://www.tvnewscheck.com/article/...-news-feed-Dow-Climbs-253-Nasdaq-Moves-Up-130

*DOW CLIMBS 253, NASDAQ MOVES UP 130*

After a shaky start, stocks rose for the fourth straight day Wednesday, and banks made some of the largest gains as bond yields reached new four-year highs. The move in yields came after the government said consumer prices climbed in January a slightly faster pace than economists had expected. 

By Marley Jay
The Associated Press,  February 14, 2018 5:06 PM EST

NEW YORK (AP) — Investors saw some new hints that inflation is increasing on Wednesday, but they still sent banks, technology firms, and consumer-focused companies climbing. That was a big change after the market’s inflation-inspired plunge earlier this month.

After a shaky start, stocks rose for the fourth straight day, and banks made some of the largest gains as bond yields reached new four-year highs. The move in yields came after the government said consumer prices climbed in January a slightly faster pace than economists had expected. A different government report showed retail sales were unchanged in December and slipped last month.

Stocks began plunging Feb. 1 after the Labor Department said wages grew at a rapid clip in January. Investors worried that that meant inflation was rising and that it would push the Federal Reserve to start raising interest rates more quickly, making it more expensive for people and businesses to borrow money. That would slow down economic growth as well growth in as corporate profits. Nixon said that Wednesday’s reports show inflation probably isn’t rising that fast.

The Standard & Poor’s 500 index rose 35.69 points, or 1.3 percent, to 2,698.63. The Dow Jones industrial average added 253.04 points, or 1 percent, to 24,893.49. The Nasdaq composite climbed 130.10 points, or 1.9 percent, to 7,143.62. The Russell 2000 index of smaller-company stocks rose 27.15 points, or 1.8 percent, to 1,522.10.

After a 10 percent plunge in just nine days, the S&P 500 has risen 4.5 percent in the last four days.

The Labor Department said prices paid by consumers rose 0.3 percent in January, excluding volatile items like food and energy. That’s the most in a year, and it sent bond yields and gold prices higher.

The yield on the 10-year Treasury note rose to 2.91 percent, its highest mark in four years, from 2.84 percent a day earlier. That helped banks, as the higher interest rates make lending more profitable. But it hurt high-dividend companies like utility and phone companies. Those stocks are often compared to bonds because of their big dividend payments and relatively steady prices, but investors find them less appealing when bond yields are rising.

Retailers traded higher despite the tepid numbers in the report. Amazon rose $36.54, or 2.6 percent, to a record high of $1,451.05 and Tiffany added $2.15, or 2.1 percent, to $103.11. Nike picked up $2.09, or 3.2 percent, to $67.96.

Nixon, of Northern Trust, said she doesn’t expect inflation to increase very much, but it can be unpredictable from month to month. She noted that it could go higher as people who received tax cuts or bonuses spend their extra pay.

Netflix climbed after the streaming video company said it signed another big-name TV writer and producer to a production deal. According to reports, “Glee” and “American Horror Story” producer Ryan Murphy received a $300 million deal that will span five years. In August Netflix announced a deal with “Scandal” and “Gray’s Anatomy” creator and producer Shonda Rhimes.

Netflix climbed $7.73, or 3 percent, to $266.

Chipotle Mexican Grill soared after naming Taco Bell CEO Brian Niccol to lead the company. Chipotle has been hit hard by food safety scares over the last few years and has had trouble winning back customers. Niccol launched breakfast at Taco Bell and also introduced mobile ordering from its restaurants, and investors felt he might improve the company’s fortunes. Founder Steve Ells resigned as CEO in November.

The stock rose $38.58, or 15.4 percent, to $289.91. It traded above $700 in mid-2015.

After years of declines, watchmaker Fossil soared $7.93, or 87.7 percent, to $16.97 after it did far better than Wall Street expected in the fourth quarter. The stock was worth more than $100 at the end of 2014, but plunged as competition from smart watches and fitness trackers eroded its sales.

Gold jumped $27.60, or 2.1 percent, to $1,358 an ounce. Silver rose 35 cents, or 2.1 percent, to $16.88 an ounce. Copper picked up 7 cents, or 2.3 percent, to $3.24 a pound.

U.S. crude rose $1.41, or 2.4 percent, to $60.60 a barrel in New York. Brent crude, used to price international oils, gained $1.64, or 2.6 percent, to $64.36 a barrel in London.

Wholesale gasoline added 3 cents to $1.71 a gallon. Heating oil rose 5 cents to $1.88 a gallon. Natural gas lost 1 cent to $2.59 per 1,000 cubic feet.

The dollar fell to 107.09 yen from 107.69 yen. The euro dipped to $1.2435 from $1.2355.

The DAX in Germany rose 1.2 percent and the French CAC 40 added 1.1 percent. The FTSE 100 in Britain picked up 0.6 percent. Japan’s benchmark Nikkei 225 slipped 0.4 percent after its economy grew at a slower-than-expected pace in the fourth quarter. South Korea’s Kospi gained 1.1 percent and Hong Kong’s Hang Seng rose 2.3 percent.


----------



## bigdog

*Markets in mainland China, South Korea and Taiwan were closed for the lunar new year holiday.*





https://www.usnews.com/news/busines...rack-wall-st-gains-as-inflation-fears-subside

* US Stocks Keep Gaining as Tech, Industrial Companies Rise *
*Technology companies are leading stocks higher Thursday as US stocks rose for the fifth day in a row.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Technology companies climbed Thursday as stocks rose for the fifth day in a row. They have now recovered about half their losses during the market's dramatic plunge earlier this month.

Tech bellwether Cisco Systems jumped after it posted strong quarterly results and announced a big stock repurchase, while Apple rose after an analyst said sales of the iPhone X in China are improving. Most other parts of the market climbed as well, with notable gains for industrial companies and household goods makers. Energy companies continued to struggle.

It took stocks just nine days to skid from record highs into a 10 percent drop, known on Wall Street as a "correction." Concerns about rising inflation contributed to the fall, but even though investors have seen more signs of inflation in the last few days, major indexes are on a five-day winning streak and have recouped about half of their recent losses.

"The market should never have gone down 10.5 percent," said Rick Rieder, BlackRock's chief investment officer of global fixed income. Rieder noted that inflation remains low, and the newly-passed government budget will push interest rates higher because it creates so much new debt.

After a brief dip late in the morning, the Standard & Poor's 500 index rallied and rose 32.57 points, or 1.2 percent, to 2,731.20. The Dow Jones industrial average rose 306.88 points, or 1.2 percent, to 25,200.37. The Nasdaq composite climbed 112.81 points, or 1.6 percent, to 7,256.43.

The Russell 2000 index of smaller companies rose 15.10 points, or 1 percent, to 1,537.20.

Cisco reported a bigger profit and better sales than analysts expected, and said it will buy back another $25 billion of its own stock. It climbed $1.99, or 4.7 percent, to $44.08. Apple rose $5.62, or 3.4 percent, to $172.99 after an analyst for Morgan Stanley said the iPhone X is gaining market share in China, a critical market for Apple's products. Microsoft jumped $1.85, or 2 percent, to $92.66.

Among industrial companies, Boeing jumped $11.61, or 3.4 percent, to $356.46 and elevator and jet engine maker United Technologies gained $4, or 3.2 percent, to $130.

The market's recent moves might look familiar because investors have been "buying on the dips" for years. The last significant drop in the market prior to this month came in June 2016, after the United Kingdom voted to leave the European Union. The S&P 500 fell more than 5 percent in just two days, and gained it back almost as quickly.

Trading volumes have returned to more typical levels this week. They spiked in the first two weeks of February as stock indexes took some wild swings.

In economic news, the Labor Department said U.S. wholesale prices rose 0.4 percent in January, the biggest increase since November. The main reason for the increase was a big jump in energy prices, and those have dropped recently. U.S. crude oil peaked at $66 a barrel in late January and is trading around $60 a barrel now.

Bond prices were little changed. The yield on the 10-year Treasury note remained at 2.91 percent, its highest level in four years.

Rieder, of BlackRock, said bond prices hardly moved during the recent downturn because investors are realizing that the new federal budget agreement, which puts the country on track for $1 trillion annual deficits over the next few years, will keep bond prices lower and interest rates higher.

"So much Treasury debt is going to have to come to the market that people are starting to do the calculus of 'this is going to push interest rates higher,'" he said.

U.S. crude oil turned higher in afternoon trading after a slump in the morning. It rose 74 cents, or 1.2 percent, to $61.34 a barrel in New York. Brent crude, used to price international oils, lost 3 cents to $64.33 a barrel in London.

Wholesale gasoline picked up 2 cents to $1.74 a gallon. Heating oil rose 1 cent to $1.89 a gallon. Natural gas slipped 1 cent to $2.58 per 1,000 cubic feet.

Still, energy companies mostly fell. They've done far worse than any other part of the market lately: of the 32 energy companies in the S&P 500, only six are currently higher than they were at the start of the year.

Gold lost $2.70 to $1,355.30 an ounce. Silver fell 8 cents to $16.80 an ounce. Copper added 1 cent to $3.25 a pound.

The dollar slid to 106.27 yen from 107.09 yen. The euro rose to $1.2506 from $1.2435.

France's CAC 40 climbed 1.1 percent, led by a big gain from Airbus. Germany's DAX added 0.1 percent and Britain's FTSE 100 rose 0.3 percent. Japan's Nikkei 225 rose 1.5 percent and in Hong Kong the Hang Seng advanced 2 percent in a half-day trading session. Markets in mainland China, South Korea and Taiwan were closed for the lunar new year holiday.


----------



## bigdog

*Markets in China and South Korea were closed for lunar new year celebrations.*







https://www.usnews.com/news/busines...-with-asian-markets-closed-for-lunar-new-year

* Stocks Stretch Winning Streak to 6 Days Despite Turbulence *
*Stocks rise for the sixth day in a row Friday even though they couldn't hang on to a bigger gain.*

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks closed out their strongest week in five years Friday and have now recovered more than half of the losses they suffered in a plunge at the beginning of the month.

Investors got back to buying stocks almost as quickly as they started dumping them. The gain Friday was the sixth in a row for the Standard & Poor's 500 index. A combination of cheaper prices for stocks as well as solid company profits put investors back in a buying mood.

The S&P 500, which many index funds track, has risen almost 6 percent in its current streak. Investors haven't hesitated to buy the same types of stocks that did well before the market's recent slump, including technology companies and banks.

In a typical market downturn, investors might avoid stocks that have had huge run-ups out of fear they had gotten too expensive. Instead, investors are still betting on more strength in the economy and are buying companies that tend to do better in times of faster growth.

After an unusually long period of calm, stocks plunged at the start of February as investors worried about inflation and rising interest rates. The S&P 500 fell as much as 10 percent from its latest record high reached January 26. But investors weren't scared off for long.

"Rates started to stabilize and you got some better economic data, and earnings in general have been pretty good," said Sameer Samana, global equity and technical strategist for the Wells Fargo Investment Institute.

Samana said bond and credit markets showed that the fear wasn't spreading. Companies were still able to borrow at relatively low rates, which showed lenders weren't concerned the economy was weakening.

"A lot of people probably looked at stocks vs. credit and probably thought 'if credit's not feeling it, things must not be all that bad,'" he said.

The S&P 500 gained 1.02 points, or less than 0.1 percent, at 2,732.22. That includes a gain of 4.3 percent this week, its best since January 2013.

The Dow Jones industrial average rose 19.01 points, or 0.1 percent, to 25,219.38. The Nasdaq composite lost 16.96 points, or 0.2 percent, to 7,239.47. The Russell 2000 index of smaller company stocks climbed 6.35 points, or 0.4 percent, to 1,543.55.

Homebuilders rose after the Commerce Department reported that construction of new homes jumped 9.7 percent in January. That was the highest level since October 2016, and permits, a sign of future construction, also climbed. NVR gained $131.23, or 4.3 percent, to $3,208.23 while D.R. Horton rose 46 cents, or 1 percent, to $45.57.

Among health care companies, drugmaker AbbVie jumped $3.70, or 3.2 percent, to $118.60 and Johnson & Johnson rose $1.92, or 1.5 percent, to $133.15.

Friday's gains didn't come without some bumps. The Dow was up 232 points at about 12:30 p.m., shortly before Special Counsel Robert Mueller announced the indictment of 13 Russians and three Russian organizations in a plot to interfere in the 2016 U.S. Presidential election. Stocks gave up their gains after that and spent the afternoon meandering between small gains and losses.

The indictment says the Russians used social media propaganda, at times helping Trump and harming the prospects of Democrat Hillary Clinton. Facebook fell $2.60, or 1.4 percent, to $117.36 and Twitter fell 55 cents, or 1.6 percent, to $33.06

Samana, of Wells Fargo, said the recovery from the recent 10 percent plunge may not be a smooth one either.

"We see another year of solid returns" for stocks, he said. "It'll just come with these bouts where people worry about rates and inflation and the end of the cycle."

Among health care companies, Johnson & Johnson gained $2.14, or 1.6 percent, to $133.37 and AbbVie jumped $3.11, or 2.7 percent, to $118.01.

Now that stocks have stopped plunging, investors are focusing on the strong results companies posted in the fourth quarter.

"Analysts continue to underestimate the pace of global growth," Credit Suisse analyst Jonathan Golub wrote in a report. "As a result, more companies are beating/hitting expectations than in any quarter in 20 years."

Since the market hit its recent low point on Feb. 8, the S&P 500 technology index is up 8.5 percent and its financial company index is up 6.7 percent. This week alone, Apple has jumped 10 percent and chipmaker Applied Materials is up 14.5 percent. Amazon, one of the best performing S&P 500 companies this year, rose 8 percent for the week.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.87 percent from 2.91 percent.

U.S. crude oil picked up 34 cents to $61.68 a barrel in New York. Brent crude, used to price international oils, added 51 cents to $64.84 a barrel in London.

Natural gas rose 2 cents to $1.75 a gallon. Heating oil added 2 cents to $1.91 a gallon. Natural gas slipped 2 cents to $2.56 per 1,000 cubic feet.

Gold inched up 90 cents to $1,356.20 an ounce. Silver lost 8 cents to $16.71 an ounce. Copper stayed at $3.25 a pound.

The dollar edged up to 106.30 yen from 106.27 yen. The euro fell to $1.2413 from $1.2506.

The CAC 40 of France climbed 1.1 percent after a strong gain a day ago. Germany's DAX added 0.9 percent while the FTSE 100 in Britain gained 0.8 percent. In Japan, the Nikkei 225 index climbed 1.2 percent. Markets in China and South Korea were closed for lunar new year celebrations.

6852


----------



## bigdog

*NYSE was closed Monday, February 20 George Washington's Birthday *
*



*

*REST of WORLD*
*



*

*https://www.usnews.com/news/busines...-move-higher-as-market-jitters-appear-to-ease*

* European Shares Drift Lower as Traders Take a Breather 
European shares drifted lower Monday as investors paused for breath following a sizeable rally last week.
*
By The Associated Press

LONDON (AP) — European shares drifted lower Monday as investors paused for breath following a sizeable rally last week. Despite the move lower, there are few signs of the turmoil that gripped stock markets earlier this month. U.S. stock markets are closed for Presidents Day.

KEEPING SCORE: In Europe, Germany's DAX was down 0.3 percent at 12,412 while the FTSE 100 index of leading British shares fell 0.3 percent to 7,276. The CAC 40 in France was 0.2 percent lower at 5.269.

CALM DOMINATES: Earlier this month there were real concerns that global stock markets were poised for a sustained period of weakness. However, sentiment has recovered over the past week or so, with many traders adjusting to the altered economic environment.

ANALYST TAKE: "So far, global equity markets seem to be adjusting to the prospect of higher inflation, presumably on the basis that increases in corporate pricing power will be positive for earnings rather than of the cost-push kind that dents profit margins and result in a stagflationary economy," said Neil MacKinnon, global macro strategist at VTB Capital.

ASIA'S DAY: Earlier, Asian stocks performed strongly as they caught up with Friday's further advance, particularly on Wall Street. Japan's Nikkei 225 jumped 2 percent to 22,149.21. The Tokyo benchmark ended the day just 2.7 percent below where it started 2018, having recouped most of its losses during the recent global rout. South Korea's Kospi advanced 0.9 percent to 2,442.82. Australia's S&P/ASX 200 rose 0.6 percent to 5,941.60. Chinese markets were closed for Lunar New Year.

OIL: Benchmark U.S. crude rose 46 cents to $62.01 per barrel in electronic trading on the New York Mercantile Exchange while Brent crude, used to price international oils, was up 25 cents at $65.09 a barrel in London.

CURRENCIES: The euro was down 0.1 percent at $1.2397 while the dollar rose 0.2 percent to 106.60 yen.


----------



## bigdog

https://finance.yahoo.com/m/5df08ad4-5ff9-3d75-ac13-10be522127ce/ss_walmart&#39;s-plunge-sinks.html

*Walmart's plunge sinks retailers, breaking streak for stocks*




Alex Veiga, AP Business Writer
Associated Press February 21, 2018

The biggest drop in Walmart's stock in 30 years and losses in other sectors pulled U.S. indexes lower Tuesday, snapping a six-day winning streak.

The losses deepened in the last hour of trading into a broad sell-off that erased early gains led by technology companies.

Walmart plunged 10 percent after reporting weak online sales and disappointing earnings. Grocery store operators, retailers, health care companies and industrial stocks accounted for much of the market's slide.

"Investors have been lulled into a false sense that stock markets are not volatile," said Doug Cote, chief market strategist for Voya Investment Management. "Last week was one of the best weeks in years, and as we go back to normal volatility, you're going to see what you would expect: normal ups and downs."

The Standard & Poor's 500 index fell 15.96 points, or 0.6 percent, to 2,716.26. The Dow Jones industrial average slid 254.63 points, or 1 percent, to 24,964.75. The Nasdaq lost 5.16 points, or 0.1 percent, to 7,234.31. The Russell 2000 index of smaller-company stocks gave up 13.56 points, or 0.9 percent, to 1,529.99.

The S&P 500, a benchmark for many index funds, capped its strongest week in five years on Friday, recovering more than half of the losses it suffered in a plunge at the beginning of this month. Stocks began giving back some of those gains early Tuesday as trading reopened after a long holiday weekend and investors began sizing up company earnings while keeping an eye on the bond market.

The yield on the 10-year Treasury, which is used as a benchmark for mortgages and other loans, has been rising in recent months from a low of 2.04 percent in September. Higher bond yields indicate investors expect more risk of inflation, and they also can threaten stock prices by making bonds more appealing versus stocks.

"Some of the broader concerns on investors' minds right now are looking across to the bond market and seeing the 10-year Treasury starting to approach that 3 percent level," said Bill Northey, vice president at U.S. Bank Wealth Management.

Bond prices, which had been declining early Tuesday, ended up little changed. The yield on the 10-year Treasury held at 2.88.

Walmart posted the biggest loss in the Dow and S&P 500. The tumble represents the stock's worst single-day drop since January 1988. Investors were disappointed with the retail giant's fourth-quarter results, which missed Wall Street's expectations as the company wrestled with slower e-commerce sales during the busiest time of the year.

The stock shed $10.67, or 10.2 percent, to $94.11.

Several big retailers also fell, including Target, which slid $2.22, or 3 percent, to $72.86. Ross Stores dropped $2.19, or 2.7 percent, to $77.98.

Gap declined 5 percent after the clothing chain said the head of the Gap brand will leave the company. Jeff Kirwan, who has been with the company since 2004, had led the namesake brand since the end of 2014. The Gap said Kirwan had failed to achieve "the operational excellence and accelerated profit growth" that the company expected for the Gap brand. The stock lost $1.66 to $31.61.

Genuine Parts gave up 5.2 percent after the auto and industrial parts company gave a disappointing profit forecast for 2018. The stock fell $5.16 to $94.67.

Company deals offset some of the market slide.

NXP Semiconductor jumped 6 percent after Qualcomm raised its offer for the company to $127.50 a share, or $43.22 billion, from $110 a share. The move comes as Broadcom is trying to buy Qualcomm. Shares in NXP added $7.06 to $125.56. Qualcomm lost 86 cents, or 1.3 percent, to $63.99.

Traders also welcomed news that grocery store operator Albertsons agreed to buy more than 2,500 Rite Aid stores. Albertsons owns brands including Safeway. The deal will double the amount of drugstores it owns.

Last year, Rite Aid had agreed to sell almost 2,000 locations to Walgreens after a larger deal fell apart. Rite Aid's stock, which has shed more than half its value over the past year, rose 7 cents, or 3.3 percent, to $2.20.

Benchmark U.S. crude rose 22 cents to settle at $61.90 per barrel in New York. Brent crude, used to price international oils, shed 42 cents to close at $65.25 a barrel.

In other energy futures trading, heating oil added 2 cents to $1.93 a gallon. Wholesale gasoline was little changed at $1.75 a gallon. Natural gas rose 6 cents to $2.62 per 1,000 cubic feet.

Gold fell $25, or 1.8 percent, to $1,331.20 an ounce. Silver dropped 27 cents to $16.44 an ounce. Copper slid 6 cents to $3.19 a pound.

The dollar rose to 107.30 yen from 106.55 yen on Friday. The euro weakened to $1.2336 from $1.2408.

Major indexes in Europe ended mostly higher. Germany's DAX rose 0.8 percent, while France's CAC 40 gained 0.6 percent. Britain's FTSE 100 was flat.

Earlier in Asia, Japan's benchmark Nikkei 225 lost 1 percent, while Australia's S&P/ASX 200 inched lower. South Korea's Kospi lost 1.1 percent. Hong Kong's Hang Seng fell 0.8 percent. Stocks were mixed in Southeast Asia, while markets in mainland China were still closed for lunar new year holidays.


----------



## bigdog

https://finance.yahoo.com/m/bfdee59a-9be3-36bf-9623-e098edc0555d/ss_spike-in-bond-yields-upends.html

*Spike in bond yields upends US stock market rally*




ALEX VEIGA
Associated Press  February 22, 2018

U.S. stocks closed broadly lower Wednesday, erasing an early gain, as investors reacted to a late-afternoon surge in bond yields.

Bond yields climbed to their highest level in four years after the Federal Reserve released minutes from its latest policy meeting. The minutes showed bullish sentiment among policymakers, confirming their intention to raise interest rates this year.

The yield on the 10-year Treasury note rose sharply after the minutes came out, touching 2.95 percent, its highest level since January 2014. Higher bond yields indicate investors expect more risk of inflation. They also can threaten stock prices by making bonds more appealing versus stocks.

"We're moving back to normal volatility, we're moving back toward normal interest rates, normal inflation," said Erik Davidson, chief investment officer for Wells Fargo Private Bank. "This is what normal looks like."

The Standard & Poor's 500 index fell 14.93 points, or 0.6 percent, to 2,701.33. The Dow Jones industrial average lost 166.97 points, or 0.7 percent, to 24,797.78. The blue chip average had been 300 points higher before the late-afternoon slide.

The Nasdaq gave up 16.08 points, or 0.2 percent, to 7,218.23. The Russell 2000 index of smaller-company stocks shed most of its gains from earlier in the day. It inched up 1.84 points, or 0.1 percent, to 1,531.84.

The major stock indexes started the day on pace to recoup some of the market's losses from a day earlier as investors sized up the latest crop of company earnings.

Technology companies, retailers and industrial stocks led the way for much of the day. The rally kicked into a higher gear shortly after the Fed minutes release.

Traders appeared to initially welcome the details in the meeting minutes, which show that a majority of Fed officials at the meeting believed that improving global economic prospects and the effects of recently passed tax cuts had raised the prospect for solid economic growth and for continued interest rate increases in 2018.

The Fed did not raise rates at the January meeting, which occurred before the February stock market plunge and turbulence.

Then bond yields began to climb, and the stock market rally began to evaporate. For a while, bank shares jumped in response to the rise in bond yields, which can benefit banks by allowing them to charge higher interest rates on loans. But soon banks stocks also slid into the red.

The yield on the 10-year Treasury, which is used as a benchmark for mortgages and other loans, has been rising in recent months from a recent low of 2.04 percent in September.

The pickup in yields has begun to make bonds more attractive as an alternative to stocks, which makes some investors uneasy.

Despite the broader market slide, investors bid up shares in some companies that reported better-than-expected earnings or outlooks Wednesday.

Advance Auto Parts vaulted 8.2 percent after reporting better earnings than analysts were expecting. The stock was the biggest gainer in the S&P 500, adding $8.65 to $114. Shares in rival auto parts retailer AutoZone also rose, climbing $6.26, or 0.9 percent, to $719.49.

La-Z-Boy also got a lift from its latest quarterly report card, rising $2.85, or 9.9 percent, to $31.75.

Walmart shares continued to slide Wednesday, a day after posting its biggest single-day drop in 30 years. The stock lost $2.59, or 2.8 percent, to $91.52.

Devon Energy slid 11.8 percent after the energy company disclosed a smaller-than-expected profit and 2018 forecast that raised concerns with analysts. The stock gave up $4.08 to $30.57.

Benchmark U.S. crude fell 11 cents to settle at $61.68 per barrel in New York. Brent crude, used to price international oils, rose 17 cents to close at $65.42 per barrel in London.

In other energy futures trading, heating oil was little changed at $1.93 a gallon. Wholesale gasoline added a penny to $1.76 a gallon. Natural gas rose 4 cents to $2.66 per 1,000 cubic feet.

The dollar rose to 107.78 yen from 107.30 yen on Tuesday. The euro weakened to $1.2300 from $1.2336.

Gold rose 90 cents to $1,332.10 an ounce. Silver added 18 cents to $16.62 an ounce. Copper gained 3 cents to $3.22 a pound.

Major indexes in Europe ended mostly higher. Germany's DAX slipped 0.1 percent, while France's CAC 40 rose 0.2 percent and Britain's FTSE 100 added 0.5 percent.

In Asia, Japan's Nikkei 225 index climbed 0.2 percent and Hong Kong's Hang Seng gained 1.8 percent. Australia's S&P ASX 200 edged 0.1 percent higher. The Kospi in South Korea added 0.6 percent. India's Sensex gained 0.3 percent. Shares in Southeast Asia were mixed.


----------



## bigdog

https://www.usnews.com/news/busines...ower-after-fed-report-renews-bond-yield-fears

*Industrials Companies Drive US Stock Indexes Mostly Higher*
U.S. stocks closed mostly higher Thursday after a late-afternoon wave of selling pared some of gains from the market's midday rally.

By ALEX VEIGA, AP Business Writer

U.S. stocks closed mostly higher Thursday after a late-afternoon wave of selling erased much of a midday rally.

Gains in industrial companies and other sectors outweighed losses in banks and health care stocks. Energy companies also rose after crude oil prices recovered from an early slide.

Bond yields declined after spiking to four-year highs a day earlier amid rekindled fears of higher inflation and interest rates.

"The yields easing back a little bit is probably reassuring people on a very short-term kind of basis," said Erik Wytenus, global investment specialist, J.P. Morgan Private Bank. "That big, nasty intraday reversal yesterday was probably a little bit excessive."

The Standard & Poor's 500 index rose 2.63 points, or 0.1 percent, to 2,703.96. The Dow Jones industrial average gained 164.70 points, or 0.7 percent, to 24,962.48. The 30-company average was up briefly by more than 350 points. The Dow and the S&P 500 snapped a two-day losing streak.

The Nasdaq had been up much of the day, but closed lower. It fell 8.14 points, or 0.1 percent, to 7,210.09. The Russell 2000 index of smaller-company stocks gave up 1.85 points, or 0.1 percent, to 1,529.99.

The stock indexes are on track to close lower for the week.

Bond prices rose. The yield on the 10-year Treasury fell to 2.92 percent from a day earlier, when it climbed to 2.95 percent, the highest level since January 2014. Wednesday's spike in bond yields came after the Federal Reserve's minutes from its January policy meeting showed bullish sentiment among policymakers, confirming their intention to raise interest rates this year.

Higher yields generally hurt stock prices by making bonds more appealing to investors. They also make it more expensive for people and companies to borrow money. Earlier this month, global stock markets, particularly those in the U.S., suffered big losses amid mounting concerns over the pace of inflation and Fed policy tightening.

"Volatility is back, and I actually would argue that it's a healthier state of affairs," Wytenus said. "The constant melt-up that we saw in 2017 is actually quite historically abnormal."

Shares in industrials companies posted solid gains. United Technologies rose after its CEO said management is looking into the possibility of splitting up the industrial conglomerate into three separate businesses. The stock rose $4.32, or 3.3 percent, to $133.58. Caterpillar also notched gains, climbing $3.63, or 2.3 percent, to $158.86.

Investors bid up shares in several companies that reported encouraging quarterly results or outlooks.

Chesapeake Energy was the biggest gainer in the S&P 500, vaulting 57 cents, or 21.7 percent, to $3.20. The company led an energy sector rally.

Avis Budget Group shares also got an earnings boost. The car rental company added $5.24, or 13.4 percent, to $44.20.

Roku slumped 17.7 percent after the video streaming device company's latest guidance disappointed analysts. The stock lost $9.05 to $42.05.

Pandora Media's first-quarter revenue guidance also fell short of Wall Street's forecasts. The music streaming company's shares tumbled 35 cents, or 7.2 percent, to $4.52.

Banks and other financial stocks lagged the most. Brighthouse Financial slid $2.27, or 4 percent, to $55.17.

Benchmark U.S. crude recovered from an early slide, adding $1.09, or 1.8 percent, to settle at $62.77 a barrel in New York. Brent crude, used to price international oils, rose 97 cents, or 1.5 percent, to close at $66.39 per barrel in London.

In other energy futures trading, heating oil gained 2 cents to $1.95 a gallon. Wholesale gasoline added a penny to $1.77 a gallon. Natural gas fell 3 cents to $2.63 per 1,000 cubic feet.

The dollar slid to 106.64 yen from 107.78 yen on Wednesday. The euro strengthened to $1.2329 from $1.2300.

Gold rose $60 cents to $1,332.70 an ounce. Silver dropped 3 cents to $16.59 an ounce. Copper added 3 cents to $3.24 a pound.

Major stock indexes in Europe closed mostly lower. Germany's DAX fell 0.1 percent, while the CAC 40 in France gained 0.1 percent. The FTSE 100 index of leading British shares declined 0.4 percent after figures showed the British economy did not grow as strongly as initially thought during 2017.

In Asia, Japan's benchmark Nikkei 225 index slumped 1.1 percent and South Korea's Kospi shed 0.6 percent. Hong Kong's Hang Seng lost 1.5 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ian-stocks-advance-after-wall-street-rebounds

*Broad Rally Helps Stocks End a Choppy Week Slightly Higher*
Wall Street capped several days of choppy trading Friday with a broad rally that gave the stock market a modest gain for the week.

By ALEX VEIGA, AP Business Writer

Wall Street capped several days of choppy trading Friday with a broad rally that gave the stock market a modest gain for the week.

Technology companies, banks and health care stocks accounted for much of the market's gains. Energy companies also rose along with crude oil prices.

The rally came as bond yields pulled back for the second day in a row after reaching four-year highs earlier in the week. That spike on Wednesday, which sent the 10-year Treasury yield closing in on 3 percent, sent stocks sharply lower.

"There was a lot of concern about what happened if bond yields got above 3 percent, and that probably added to some of the jitters earlier this week," said Willie Delwiche, investment strategist at Baird. "Now you have a day when yields are moving away from that. At least for now, that probably lets equity traders breathe a sigh of relief and pushes stocks up a little."

The Standard & Poor's 500 index climbed 43.34 points, or 1.6 percent, to 2,747.30. The Dow Jones industrial average picked up 347.51 points, or 1.4 percent, to 25,309.99. The Nasdaq composite gained 127.30 points, or 1.8 percent, to 7,337.39. The Russell 2000 index of smaller-company stocks rose 19.20 points, or 1.3 percent, to 1,549.19.

The S&P 500, a key barometer for the stock market, had been on course to finish the week lower after losses on Tuesday snapped a six-day winning streak. All told, the S&P 500 eked out a 0.6 percent gain for the week. The Dow and Nasdaq finished with gains of 0.4 percent and 1.4 percent, respectively.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.87 percent from 2.92 percent. The yield declined for the second day in a row after climbing as high as 2.95 percent on Wednesday, the highest level since January 2014. That spike came after the Federal Reserve's minutes from its January policy meeting showed bullish sentiment among policymakers, confirming their intention to raise interest rates this year.

Earlier this month, global stock markets, particularly those in the U.S., suffered big losses amid mounting concerns over the pace of inflation and Fed policy tightening.

"We're at the mercy of people's changing opinions day-to-day on inflation and the Fed, but over the long run, we would expect the market to emerge higher," said Craig Callahan, president of ICON Advisers.

Hewlett Packard Enterprise led the gainers among technology stocks Friday.

The data center hardware company surged 10.5 percent after it reported a strong fiscal first quarter and raised its estimates for the rest of the year. It also said it would increase its quarterly dividend. The stock climbed $1.73 to $18.14.

Its former corporate sibling, printer and PC maker HP, also rose. The stock gained 74 cents, or 3.5 percent, to $22.13 after HP's first-quarter earnings and revenue surpassed analyst expectations. Its forecasts for the rest of the year were also better than excepted.

Banks and other financials companies also posted solid gains. Capital One Financial was among the big gainers, adding $2.37, or 2.5 percent, to $99.04.

Vertex Pharmaceuticals led the health care sector's winners. The stock climbed $8.31, or 5.3 percent, to $165.90.

Blue Buffalo Pet Products soared after packaged goods company General Mills agreed to buy it for $40 a share, or $8 billion. Blue Buffalo jumped $5.88, or 17.2 percent, to $40. General Mills lost $1.97, or 3.6 percent, to $52.98.

Benchmark U.S. crude picked up 78 cents, or 1.2 percent, to settle at $63.55 a barrel in New York. Brent crude, used to price international oils, gained 92 cents, or 1.4 percent, to close at $67.31 a barrel in London.

The pickup in oil prices helped lift energy sector stocks. Newfield Exploration led the pack, climbing $1.20, or 5.1 percent, to $24.66.

In other energy futures trading, heating oil gained 2 cents to $1.97 a gallon. Wholesale gasoline added 4 cents to $1.81 a gallon. Natural gas was little changed at $2.63 per 1,000 cubic feet.

The dollar rose to 106.75 yen from 106.64 yen. The euro dipped to $1.2295 from $1.2329.

Gold fell $2.40 to $1,330.30 an ounce. Silver dropped 10 cents to $16.48 an ounce. Copper slid 3 cents to $3.21 a pound.

Major stock indexes in Europe closed mostly higher Friday. Germany's DAX index rose 0.2 percent, while France's CAC 40 gained 0.2 percent. London's FTSE 100 slid 0.1 percent. In Asia, Tokyo's Nikkei 225 gained 0.7 percent, Hong Kong's Hang Seng added 1 percent and Seoul's Kospi rose 1.5 percent.

8021


----------



## bigdog

https://www.usnews.com/news/busines...an-stock-markets-gain-after-wall-street-rally

*Stocks Power Higher Again as Treasury Yields Ease*
Stocks climb again as markets around the world continue to claw back from a sharp tumble in early February.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Stocks jumped on Monday, with gains again accelerating in the last hour of trading, as markets around the world continue to claw back from a sharp tumble earlier this month.

The Standard & Poor's 500 powered to a third straight gain, and the index has erased about two-thirds of its 10 percent loss since setting a record a month ago.

Analysts said the key reason for Monday's gain was a drop in Treasury yields, which have been at the center of worries for stock investors in recent weeks, but some were still surprised by how much the stock market climbed.

The S&P 500 gained 32.30 points, or 1.2 percent, to 2,779.60, with telecoms and technology stocks leading the way. For the second straight day, the market turned higher as the day wore on. That's an encouraging sign to investors who see the last hour of trading as being dominated by the "smart money."

The Dow Jones industrial average rose 399.28, or 1.6 percent, to 25,709.27, and the Nasdaq composite gained 84.07, or 1.1 percent, to 7,421.46. All three indexes are back within 3.4 percent of their record highs.

"I think you can very confidently say the worst is over for now," said Randy Frederick, vice president of trading and derivatives at the Schwab Center for Financial Research. "The concern I have is that it's recovering too quickly. Today's rally has been very surprising."

Frederick said he saw few reasons for a big move higher in stocks on Monday, with no big-ticket earnings or economic reports on the calendar. If the market continues rising at this rate, it could hit record heights again in the next couple weeks. "And then we'd be vulnerable to another correction, so I'd prefer it to slow down a bit here," Frederick said.

What triggered the first correction, which is what traders call a 10 percent drop in stock prices, was fear that interest rates are set to march much higher, and quickly. Treasury yields have been climbing over the last month for a range of reasons, including higher expectations for inflation, a strengthening U.S. economy and the U.S. government's increased need to borrow.

Higher interest rates can hurt stock prices by making bonds look more attractive as investments, and Wall Street is split on how high they can climb. Most of Wall Street is anticipating a gradual increase, as the Federal Reserve moves short-term rates higher.

That's why an appearance this week by the Federal Reserve's chairman is so widely anticipated. Jerome Powell is scheduled to deliver his first testimony as chairman of the Fed to Congress, and he'll speak about monetary policy before the House of Representatives' financial services committee Tuesday morning. Investors will dissect it immediately for clues on how aggressive the Fed will be in raising interest rates to forestall inflation.

Ahead of the testimony, the yield on the 10-year Treasury note slipped to 2.86 percent from 2.87 percent late Friday. The two-year yield, which is influenced more by expectations of movement by the Fed, fell to 2.23 percent from 2.27 percent. The 30-year yield, which is influenced more by expectations for inflation, sank to 3.15 percent from 3.16 percent.

One driver for stocks in recent weeks is how impressive corporate profit reports have been.

Roughly 90 percent of S&P 500 companies have said how much they earned during the last three months of 2017, and three-quarters of them made more than analysts expected, according to S&P Global Market Intelligence. More important to investors is that 75 percent of companies reported more revenue than expected. Revenue growth is on pace to be the best since the summer of 2011, according to FactSet.

In Europe, France's CAC 40 rose 0.5 percent, and Germany's DAX gained 0.3 percent. The FTSE 100 climbed 0.6 percent. In Asia, Japan's Nikkei 225 index rose 1.2 percent, and the South Korean Kospi added 0.3 percent. China's Shanghai composite jumped 1.2 percent.

In the commodities markets, benchmark U.S. crude oil rose 36 cents to settle at $63.91 per barrel. Brent crude, the international standard, gained 19 cents to $67.50 a barrel.

Natural gas rose 1 cent to $2.64 per 1,000 cubic feet, heating oil added 2 cents to $1.99 per gallon and wholesale gasoline gained 2 cents to $1.83 per gallon.

Gold added $2.50 to settle at $1,332.80 per ounce, silver rose 7 cents to $16.55 per ounce and copper fell 1 cent to $3.22 per pound.

The dollar inched up to 106.91 Japanese yen from 106.75 yen late Friday. The euro rose to $1.2312 from $1.2295, and the British pound edged up to $1.3968 from $1.3967.


----------



## bigdog

https://www.usnews.com/news/busines...nds-hold-steady-ahead-of-fed-chiefs-testimony

*Treasury Yields Rise, Stocks Slide Following Fed Testimony*
Treasury yields rose Tuesday, and the S&P 500 slid to its first loss in four days after the head of the Federal Reserve said that he's feeling more optimistic about the economy.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Treasury yields rose Tuesday, and the Standard & Poor's 500 index slid to its first loss in four days after the head of the Federal Reserve said that he's feeling more optimistic about the economy.

The testimony by Fed Chairman Jerome Powell before Congress was highly anticipated, and he gave encouraging words about the economic data that have arrived in recent weeks. But some investors speculated they could mean the central bank will get more aggressive in raising interest rates than the market has prepared for.

"My personal outlook for the economy has strengthened since December," Powell said in response to a question about whether the recently passed tax cut and other moves by Congress have changed his outlook for how quickly the Fed will raise interest rates.

The immediate reaction in the bond market was to send Treasury yields higher, and the yield on the 10-year note climbed to 2.90 percent from 2.86 percent late Monday. It had been down earlier in the morning.

Higher interest rates can hurt stock prices by making bonds more attractive. Generally, when interest rates are rising, companies need to produce bigger profits just for their stock prices to stay flat.

The S&P 500 fell 35.32 points, or 1.3 percent, to 2,744.28. It had been bouncing between modest gains and losses early in the morning, but the losses accelerated after Powell began answering questions on Capitol Hill.

The Dow Jones industrial average lost 299.24, or 1.2 percent, to 25,410.03, and the Nasdaq composite fell 91.11, or 1.2 percent, to 7,330.35.

The Fed raised its key policy interest rate three times last year and has signaled that another three increases may be coming in 2018. Powell reaffirmed to the House Financial Services Committee that the central bank plans to raise interest rates gradually as the economy improves.

The market got spooked earlier this month when potential signs of inflation strengthened, which raised speculation that the Fed may speed up its timetable. Stocks around the world fell sharply as a result, with the S&P 500 losing 10 percent from its record high at one point.

If the Fed does raise rates four times this year, it could upset markets when many investors have been preparing for only three increases, said Rich Weiss, chief investment officer of multi-asset strategies at American Century Investments.

What may make things even more muddled is how long it's been since investors have had to contend with a market where inflation is a threat and interest rates are rising, Weiss said. The last time was before the 2008 financial crisis.

"You have a generation of brokers and advisers who have not experienced this side of the economic cycle," he said.

The rise in Treasury yields sent stocks that pay big dividends to some of the market's steepest losses. When bonds are paying more in interest, they can lure income investors away from dividend-paying stocks.

Real-estate investment trusts in the S&P 500, which are among the biggest dividend payers, lost 2.1 percent for the biggest loss among the 11 sectors that make up the index. Utilities fell 1.7 percent.

Comcast had one of the biggest losses in the S&P 500 after it launched a bid for European pay TV broadcaster Sky. The buyout offer is for 22.1 billion pounds ($29.5 billion), and Comcast's Class A shares lost $2.92, or 7.4 percent, to $36.66.

Shares of Walt Disney also fell because the Comcast bid could disrupt its takeover offer for 21st Century Fox. Disney lost $4.94, or 4.5 percent, to $104.87.

On the winning end was Macy's, which jumped to one of the biggest gains in the S&P 500 after reporting sales and profits that were comfortably ahead of expectations. The retail giant also gave a forecast for 2018 earnings that was higher than analysts expected.

Macy's rose 95 cents, or 3.5 percent, to $28.40.

In Europe, stock indexes were mixed with France's CAC 40 close to flat and Germany's DAX down 0.3 percent. The FTSE 100 in London was down 0.1 percent.

In Asia, Japan's Nikkei 225 jumped 1.1 percent, South Korea's Kospi dipped 0.1 percent and the Hang Seng in Hong Kong lost 0.7 percent.

In the commodities markets, benchmark U.S. crude fell 90 cents to settle at $63.01 per barrel. Brent crude, the international standard, dropped 87 cents to $66.63 per barrel.

Natural gas was nearly flat at $2.68 per 1,000 cubic feet, heating oil fell 2 cents to $1.96 per gallon and wholesale gasoline lost 2 cents to $1.80 per gallon.

Gold dropped $14.20 to $1,318.60 per ounce, silver lost 19 cents to $16.43 per ounce and copper fell 4 cents to $3.19 per pound.

The dollar rose to 107.42 Japanese yen from 106.91 yen late Monday. The euro dipped to $1.2236 from $1.2312, and the British pound fell to $1.3916 from $1.3968.


----------



## bigdog

https://www.usnews.com/news/busines...s-fall-after-us-fed-chief-says-hes-optimistic

*Stocks Fall as S&P 500 Closes Out Cruelest Month in 2 Years*
U.S. stocks sank again on Wednesday and cemented February as the worst month for the market in two years

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks sank again on Wednesday and cemented February as the worst month for the market in two years.

Not only was the month's loss sharp, at 3.9 percent for the Standard & Poor's 500 index, it was also the first in a long time. S&P 500 index funds snapped a record-setting run where they had made money for 15 straight months, including dividends.

Some of Wednesday's drop was due to a slide in the price of oil, which sent energy stocks to the market's sharpest losses. The S&P 500 fell 30.45 points, or 1.1 percent, to 2,713.83, while the Dow Jones industrial average lost 380.83, or 1.5 percent, to 25,029.20 and the Nasdaq composite dropped 57.35, or 0.8 percent, to 7,273.01.

The dominant fear for the month was the threat of higher inflation and interest rates. Concerns got so high that the S&P 500 spiraled down 10 percent in just nine days at one point, before trimming some of its losses. The index had five losses of 1 percent or more in February, more than it did in all of last year.

Expect even more swings in coming weeks and months, said Brian Peery, portfolio manager at Hennessy Funds. Investors are trying to figure out how many times the Federal Reserve will raise interest rates this year in the face of a growing economy. Uncertainty is high given that markets are waiting to see how much Washington's recently passed tax cuts will push companies to spend on equipment and wages.

"We were without volatility for so long, but what's in motion tends to stay in motion," Peery said. "It's been a pretty tumultuous month."

The tumult started just as the month began, when a government report showed a jump in workers' wages that surprised economists. That triggered worries that higher inflation may be on the way and that the Federal Reserve would need to get more aggressive about raising rates as a result. Higher rates make bonds more attractive as investments and can divert buyers away from stocks.

The dizzying result marked a sharp turnaround from the market's blistering start to the year, when stocks jumped on expectations that corporate profits would keep rising and the global economy would keep strengthening. It was a continuation of the remarkably smooth rise that investors enjoyed in 2017.

On Wednesday, the yield on the 10-year Treasury fell to 2.86 percent from 2.90 percent late Tuesday.

The benchmark yield relinquished roughly all of its increase from the prior day, when comments from Fed Chairman Jerome Powell once again raised speculation of a more aggressive Fed. He told Congress that he's more optimistic about the economy, which led some investors to anticipate four rate increases for 2018, up from three last year.

Among the biggest losers on Wednesday in the S&P 500 was Lowe's, which reported weaker profit for the last quarter than analysts expected. The home-improvement retailer's stock dropped $6.20, or 6.5 percent, to $89.59.

Energy stocks in the S&P 500 lost 2.3 percent for the sharpest drop among the 11 sectors that make up the index. They were hurt by a sharp drop in the price of oil after a government report showed that the amount of oil in U.S. inventories rose more than analysts expected last week.

Benchmark U.S. crude lost $1.37 to settle at $61.64 per barrel. Brent crude, the international standard, fell 85 cents to $65.78 per barrel.

On the winning side was Booking Holdings, the company formerly known as Priceline. It jumped $129.03, or 6.8 percent, to $2,034.04 after it reported a bigger profit for the latest quarter than analysts expected, aided by stronger travel bookings.

Overseas stock markets were subdued. In Europe, France's CAC 40 fell 0.4 percent, and Germany's DAX lost 0.4 percent. The FTSE 100 in London was down 0.7 percent.

In Asia, Japan's Nikkei 225 tumbled 1.4 percent, South Korea's Kospi lost 1.2 percent and the Hang Seng in Hong Kong lost 1.4 percent.

The dollar dipped to 106.66 Japanese yen from 107.42 yen late Tuesday. The euro fell to $1.2203 from $1.2236, and the British pound slipped to $1.3771 from $1.3916.

In the commodities markets, natural gas sank 2 cents to $2.67 per 1,000 cubic feet, heating oil lost 5 cents to $1.92 per gallon and wholesale gasoline fell 5 cents to $1.76 per gallon.

Gold slipped 70 cents to $1,317.90 per ounce, silver lost 3 cents to $16.41 per ounce and copper dropped 5 cents to $3.13 per pound.


----------



## bigdog

*The Dow Jones industrial average dropped 420.22 points, or 1.7 percent, to 24,608.98, and the Nasdaq composite fell 92.45, or 1.3 percent, to 7,180.56.*






https://www.usnews.com/news/busines...mixed-as-china-recovers-from-wall-street-drag

*Stocks Dive After Trump Promises Tariffs on Steel*
U.S. stocks dove in another dizzying day of trading after President Donald Trump promised stiff tariffs on imported steel and aluminum.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks dove in another dizzying day of trading after President Donald Trump promised stiff tariffs on imported steel and aluminum. The move raised the threat of escalating retaliation by other countries and higher inflation. The Standard & Poor's 500 index erased nearly all of its gains for the year.

Indexes had been bouncing between modest gains and losses earlier in the day, until Trump told industry executives around midday that they'll "have protection for the first time in a long while" and that he's planning to impose tariffs of 25 percent on steel imports and 10 percent on aluminum imports next week.

"I don't know if this will cause a trade war, and obviously that's the fear," said Lamar Villere, portfolio manager at investment manager Villere & Co. "But this is exactly what candidate Trump said he would do: He said he would be very protectionist and America First."

The Standard & Poor's 500 index tumbled 36.16 points, or 1.3 percent, to 2,677.67. It's the third straight day where the index has lost at least 1 percent. It had only four such days last year. The S&P 500 is now up just 0.2 percent for the year after having its best January in 20 years.

The Dow Jones industrial average dropped 420.22 points, or 1.7 percent, to 24,608.98, and the Nasdaq composite fell 92.45, or 1.3 percent, to 7,180.56.

As a candidate, Trump campaigned on an "America First" trade policy, and a big fear for investors has been that increasingly nationalistic governments will impose barriers that hurt the global economy and trade, as well as profits for U.S. exporters. Apple, the most valuable U.S. company, got 63 percent of its sales from outside the United States in its latest fiscal year.

European Commission President Jean-Claude Juncker said the European Union will take retaliatory action if Trump goes ahead with his plan. He vowed that "the EU will react firmly and commensurately to defend our interests."

Shares of U.S. steelmakers surged on the tariff news. U.S. Steel rose $2.50, or 5.7 percent, to $46.01. But shares of companies that use lots of steel fell, as did exporters.

Industrial companies in the S&P 500 fell 1.9 percent for the sharpest loss among the 11 sectors that make up the index. Aerospace giant Boeing lost $12.52, or 3.5 percent, to $349.69.

Stocks of smaller companies, which tend to do more of their business in the United States and may not feel as much pain from a global trade war, held up better than the rest of the market. The Russell 2000 index of small-cap stocks fell 5.06, or 0.3 percent, to 1,507.39.

Bond prices rose as demand jumped for safer investments, which pushed yields lower. The yield on the 10-year Treasury note sank to 2.81 percent from 2.86 percent late Wednesday.

Stocks were higher earlier in the day after Federal Reserve Chairman Jerome Powell testified before Congress and appeared to calm one of the market's main worries: that the Fed may get more aggressive about raising interest rates to beat down inflation amid the strengthening job market and economy.

Powell told the Senate Finance Committee that he does not see inflation in workers' wages "at a point of acceleration." He also said, "I would expect that some continued strengthening in the labor market can take place without causing inflation."

Earlier in the week, Powell's testimony helped send Treasury yields jumping and stocks tumbling when he said that he's feeling more optimistic about the economy. Some traders took that as a signal that the Fed may raise rates more quickly than the market expected.

Worries about potentially higher rates and inflation have reintroduced markets to volatility following their unusually calm run in 2017 and early this year. The concerns at one point helped knock the S&P 500 down 10 percent from its record high, set in late January.

Patterson Companies fell to the biggest loss in the S&P 500 after it reported weaker earnings for the latest quarter than analysts expected and said that its chief financial officer was leaving. Shares of the company, which sells dental and animal health products, dropped $7.47, or 23.7 percent, to $24.11.

Oil prices continue to drop following a report on Wednesday that showed more crude supplies in inventories last week than analysts expected. Benchmark U.S. crude fell 65 cents to settle at $60.99 per barrel. Brent crude, the international standard, lost 90 cents to $63.83 a barrel.

Natural gas rose 3 cents to $2.70 per 1,000 cubic feet, heating oil fell 2 cents to $1.89 per gallon and wholesale gasoline slipped 3 cents to $1.90 per gallon

Gold dropped $12.70 to $1,305.20 an ounce, silver lost 13 cents to $16.28 per ounce and copper lost 1 cent to $3.12 per pound.

The dollar dipped to 106.24from 106.66 yen late Wednesday. The euro rose to $1.2255 from $1.2203, and the British pound slipped to $1.3768 from $1.3771.

France's CAC 40 fell 1.1 percent and Germany's DAX was down 2 percent. The FTSE 100 in London dropped 0.8 percent. In Asia, Japan's Nikkei 225 lost 1.6 percent and Hong Kong's Hang Seng rose 0.6 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ks-skid-tracking-wall-st-loss-on-tariff-fears

*S&P 500 Erases Early Plunge and Rises to Cap Frenetic Week*
U.S. stocks went on another dizzying ride Friday after they clawed back from an early-morning plunge to send the Standard & Poor's 500 index to its first gain in four days.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks went on another dizzying ride Friday and worked their way back from an early-morning plunge to send the Standard & Poor's 500 index to its first gain in four days. It was just the latest swing in a frenetic week for markets around the world as investors recalibrated — again and again — how worried to be about a possible trade war and a more aggressive Federal Reserve.

When U.S. markets opened for trading, the S&P 500 lost as much as 1.1 percent to join a worldwide sell-off after President Donald Trump doubled down on "trade war" talk. He took to Twitter to defend his promise from Thursday to impose stiff tariffs on imports of steel and aluminum, saying that the United States is losing on trade with virtually every country and that "trade wars are good" and "easy to win."

Investors had a different impression. Markets tumbled from Asia to Europe on fears that escalating retaliation between countries could choke off trade and the global economy. The president of the European Union's governing body suggested possible tariffs on blue jeans and motorcycles.

The S&P 500 trimmed its loss as the day went on and was bouncing between gains and losses by the early afternoon. It accelerated in the last half hour of trading and ended at 2,691.25, up 13.58 points, or 0.5 percent. The Dow Jones industrial average fell 70.92, or 0.3 percent, to 24,538.06, and the Nasdaq composite rose 77.31, or 1.1 percent, to 7,257.87.

Stocks pared their losses as investors questioned how far Trump will end up going, said Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management.

"I view nearly every one of Trump's actions through a negotiation lens," he said. "This was an anchor, an opening bid. ... I think the market senses some of that, and I would imagine that we will see some horse trading going on with what ultimately happens with these tariffs."

The S&P 500 still ended the week with a loss of 2 percent, its third decline that severe in the last five weeks. Last year, the worst weekly loss was just 1.4 percent.

If a trade war does indeed break out, it could threaten a key reason investors were optimistic about stocks coming into 2018: The global economy is finally strengthening in sync, which should lead to higher corporate profits.

Big U.S. companies are heavily reliant on global trade, and companies in the S&P 500 got 43 percent of their sales from outside the United States in 2016, according to S&P Dow Jones Indices. That means Apple and other big U.S. companies are dependent on customers not only in Peoria but also Paris and Peru.

Stocks of smaller U.S. companies, which tend to do more of their business at home, did much better than the rest of the market. The Russell 2000 index of small-cap stocks rose 25.78, or 1.7 percent, to 1,533.17.

The trade worries are piling onto a market that was already nervous. Concerns about the possibility of higher inflation and interest rates have rocked markets since the S&P 500 set its latest record high in late January.

Inflation has been low in the years following the Great Recession, but if it jumps higher, it could force the Federal Reserve to raise short-term rates more sharply than investors are expecting. That could easily upset markets, which had been enjoying a remarkably smooth ride last year.

The Fed's chairman, Jerome Powell, jolted markets on Tuesday, when he said that he's feeling more optimistic about the U.S. economy. Some investors took that as a signal that the Fed may get more aggressive, which sent stocks down and Treasury yields higher. Later in the week, though, Powell may have calmed some of the fears when he said that he does not see inflation in wages "at a point of acceleration."

Such a dance is typical when central banks are raising interest rates and "tightening" financial conditions, rather than easing, said Schutte.

"When central banks ease, the goal is shock and awe, or to use a football analogy, to throw the deep ball," he said. "When they hike, it's three yards and a cloud of dust. They want to advance the ball gradually."

The yield on the 10-year Treasury rose to 2.86 percent from 2.81 percent late Thursday.

The biggest loss in the S&P 500 came from Foot Locker, which plunged after it said sales trends were weaker last quarter than analysts expected. Shares dropped $5.84, or 12.7 percent, to $40.04.

McDonald's stock dropped on fears that its value menu isn't drumming up much in sales, and an analyst at RBC Capital Markets cut his expectations for the chain's sales in the United States. Its shares dropped $7.43, or 4.8 percent, to $148.27.

The losses follow up sharp drops in markets overseas. In Asia, Japan's Nikkei 225 plunged 2.5 percent, the Hang Seng in Hong Kong fell 1.5 percent and South Korea's Kospi dropped 1 percent.

In Europe, France's CAC 40 lost 2.4 percent, and Germany's DAX fell 2.3 percent. The FTSE 100 in London gave up 1.5 percent.

In the commodities markets, benchmark U.S. crude rose 26 cents to settle at $61.25 per barrel. Brent crude, the international standard, rose 54 cents to $64.37 a barrel.

Gold rose $18.20 to settle at $1,323.40 per ounce. Gold usually rises when investors are feeling more nervous about inflation and the economy. Silver climbed 19 cents to $16.47 per ounce, and copper added 2 cents to $3.12 per pound.

Natural gas was virtually flat at $2.70 per 1,000 cubic feet, heating oil slipped a cent to $1.88 per gallon and wholesale gasoline gained a penny to $1.90 per gallon.

The dollar fell to 105.54 Japanese yen from 106.24 yen late Thursday. The euro rose to $1.2331 from $1.2255, and the British pound rose to $1.3790 from $1.3768.

9869


----------



## bigdog

https://www.usnews.com/news/busines...ks-fall-as-markets-mull-china-growth-forecast

*US Stocks Power Higher in Latest Lightning Shift for Markets*
Stocks shook off morning losses on Monday and surged in the afternoon to send the Standard & Poor's 500 index to its best day in a week.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Stocks shook off morning losses on Monday and surged in the afternoon to send the Standard & Poor's 500 index to its best day in a week. It's the latest turn for a market suddenly prone to quick shifts not only day to day but also hour to hour, as investors question whether President Donald Trump will really risk a trade war.

The S&P 500 lost as much as 0.6 percent shortly after trading began, only to finish the day 1.1 percent higher after rising 29.69 points to 2,720.94. It's reminiscent of what happened Friday, when stocks reversed course on speculation that Trump was only making an opening bid when he promised to impose stiff tariffs on imported steel and aluminum, rather than a final offer.

The Dow Jones industrial average jumped 336.70, or 1.4 percent, to 24,874.76, and the Nasdaq composite gained 72.84, or 1 percent, to 7,330.70. Both came back from early-morning losses.

Trump took to Twitter again on Monday to defend the tariffs, which have riled trading partners around the world and already sparked talk of retaliation to heighten the worries about a possible trade war. He highlighted trade deficits with Canada and Mexico, and he said tariffs "will only come off if" a new free-trade agreement between the three countries is signed.

Later in the day, House Speaker Paul Ryan said that he is "extremely worried" about the consequences of a global trade war and urged the White House "to not advance with this plan," according to a statement issued by his office.

"It's incredibly difficult to try to understand the whims of this current administration and to try to make forecasts," said Emily Roland, head of capital markets research for John Hancock Investments. If a trade war does occur, it would hurt the global economy and the healthy profit growth that companies have been producing, two of the big drivers for the market.

"But right now, we think the impact should continue to be modest, as long as it's all talk and no action," she said.

Boeing offered a good example of how quickly the market shifted. The aerospace giant got the majority of its revenue from outside the United States last year, so it would be hurt if countries put up more barriers to global trade. Boeing was down as much as 2.3 percent in the morning before ending the day up 2.3 percent.

From its low point of the day to its high, the S&P 500 index carried investors through a swing of 1.9 percentage points. It's the fifth straight day with a gap of more than 1.5 percentage points, as trading has become much more wild since the market's placid, record-setting run from 2017 into January. During that period, the typical day saw the S&P 500 drift just 0.5 percentage points from its low point to high.

The biggest gain in the S&P 500 came from XL Group, which surged after AXA said that it will acquire the insurance and reinsurance company for $15.3 billion. Investors will get $57.60 per XL Group share, and XL Group stock surged $12.62, or 29.1 percent, to $55.92.

In overseas stock markets, Europe was mostly higher, with Italy an exception after elections there saw no single party emerge with a majority in Parliament. That raises uncertainty about how closely Italy will work with the rest of the European Union.

France's CAC 40 rose 0.6 percent, Germany's DAX gained 1.5 percent and the FTSE 100 was up 0.7 percent in London.

In Asia, Japan's Nikkei 225 fell 0.7 percent, South Korea's Kospi dropped 1.1 percent and the Hang Seng in Hong Kong lost 2.3 percent.

Besides tariffs, investors are also keying in on the upcoming U.S. jobs report that's looming at the end of the week.

What first jolted the stock market from its peaceful rise to records was last month's jobs report, which raised the specter of higher inflation. If wages continue to accelerate, investors would likely see it as more evidence that the Federal Reserve will raise interest rates higher and faster than expected, which could further upset markets.

As a demonstration of how nervous investors are, John Hancock's Roland pointed to Fed Chairman Jerome Powell's testimony before Congress last week, where he said the economy is improving.

"That first day, he didn't say anything he hadn't said before, and the market was so volatile," Roland said.

The yield on the 10-year Treasury rose to 2.88 percent on Monday from 2.87 percent late Friday.

In the commodities markets, benchmark U.S. crude rose $1.32 to settle at $62.57 per barrel. Brent crude, the international standard, rose $1.17, or 1.8 percent, to $65.54 a barrel.

Gold fell $3.50 to settle at $1,319.90 per ounce, silver lost 5 cents to $16.41 per ounce and copper was close to flat at $3.13 per pound.

Natural gas added a penny to $2.70 per 1,000 cubic feet, heating oil rose 2 cents to $1.90 per gallon and wholesale gasoline climbed 3 cents to $1.93 per gallon.

The dollar rose to 106.20 Japanese yen from 105.54 yen late Friday. The euro dipped to $1.2327 from $1.2331, and the British pound climbed to $1.3833 from $1.3790.


----------



## bigdog

https://www.usnews.com/news/busines...s-surge-despite-trade-tensions-after-us-gains

*Stocks Edge Higher as Materials Firms and Retailers Rise*
With tariff and trade concerns still in focus, stocks finish mostly higher Tuesday after a wobbly day of trading.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks meandered but finished mostly higher Tuesday as retailers and industrial companies rose. A jump in metals prices helped mining and materials companies. Asian markets jumped after the North Korean government said it was open to talks with the U.S. about ending its nuclear program.

Stocks have edged higher over the last three days, but they've frequently bounced up and down as investors grappled with the Trump administration's stance on trade and whether the proposed tariffs on steel and aluminum imports will push inflation higher in the U.S. and lead to retaliation by other countries that would hurt economic growth and corporate profits.

Kristina Hooper, chief global markets strategist for Invesco, said Wall Street is having trouble deciding if the tariffs are more of a bargaining chip in trade negotiations, as President Donald Trump has suggested at times in the last few days, or if they are a goal on their own.

"When it seemed as though it was just rhetoric (Monday), markets relaxed," she said. "Today, I think concerns have grown that maybe this isn't just a bargaining tactic." She said Republicans in Congress don't seem to be treating the tariffs as a bargaining move: House Speaker Paul Ryan spoke up against the proposed tariffs Tuesday and called for a "more surgical approach" that might cause less backlash.

The Standard & Poor's 500 index rose 7.18 points, or 0.3 percent, to 2,728.12. The Dow Jones industrial average edged up 9.36 points to 24,884.12. It rose as much as 120 points early on and later fell as much as 166 points before recovering. The Nasdaq composite jumped 41.30 points, or 0.6 percent, to 7,372.01. The Russell 2000 index of smaller-company stocks climbed 16.16 points, or 1 percent, to 1,562.20.

Stocks fell 3.7 percent during a three-day losing streak last week after Trump announced his tariff plans. Other countries objected and the European Union announced plans to put tariffs on some U.S.-made goods including bourbon and motorcycles. Companies that make most of their sales overseas have fared the worst while U.S.-focused companies have regained their losses from that three-day stretch.

Asian markets climbed after North Korea said it is willing to start talks with the U.S. on denuclearization. It also said it would stop nuclear and missile tests during those discussions. The Kospi in Seoul jumped 1.5 percent while Tokyo's Nikkei 225 rose 1.8 percent. Hong Kong's Hang Seng index climbed 2.1 percent.

While retailers including Amazon, Best Buy and Lowe's gained ground, Target lost $3.35, or 4.5 percent, to $71.79 after it reported that costs associated with overhauling its stores and investing in its website affected its earnings and forecasts for the current year. Target also said it is raising minimum starting pay for workers for the second time in less than a year.

Qualcomm fell and Broadcom rose after Bloomberg News reported that Broadcom is on track to get more leverage in its effort to buy Qualcomm, which wants Broadcom to make a richer offer. Bloomberg reported that so far, directors backed by Broadcom are on pace to win six seats on Qualcomm's board. Qualcomm's current board opposes Broadcom's $117 billion bid for the company and says the price is too low, while a board supported by Broadcom would likely accept the offer instead.

Qualcomm gave up $1.87, or 2.9 percent, to $62.14 and Broadcom added $3.98, or 1.6 percent, to $250.96. Both stocks fell Monday after The Committee for Foreign Investment in the U.S. said it will look into the deal.

After an early loss, Nordstrom rose 59 cents, or 1.1 percent, to $52.49 after the department store rejected an offer from the Nordstrom family to take it private, saying the price of $50 a share was too low. The family group includes co-presidents Blake, Peter and Erik Nordstrom. They and other family members own 30 percent of Nordstrom's stock.

Metals prices ended higher, boosting mining stocks. Gold rose $15.30, or 1.2 percent, to $1,335.20 an ounce. Silver climbed 37 cents, or 2.3 percent, to $16.78 an ounce. Copper added 3 cents to $3.16 a pound. Gold and copper mining company Freeport-McMoRan rose 51 cents, or 2.8 percent, to $18.70.

Benchmark U.S. crude added 3 cents to $62.60 a barrel in New York. Brent crude, used to price international oils, rose 25 cents to $65.79 a barrel in London.

Wholesale gasoline stayed at $1.93 a gallon. Heating oil rose 1 cent to $1.90 a gallon. Natural gas gained 5 cents to $2.75 per 1,000 cubic feet.

Bond prices edged higher. The yield on the 10-year Treasury note fell to 2.87 percent from 2.88 percent.

Germany's DAX rose 0.2 percent and London's FTSE 100 gained 0.4 percent. France's CAC 40 added 0.1 percent.

The dollar inched up to 106.21 yen from 106.20 yen. The euro rose to $1.2405 from $1.2327.


----------



## bigdog

https://www.usnews.com/news/busines...ks-decline-as-investors-watch-us-tariff-moves

*Stocks Wobble as Trump's Top Economic Adviser Departs*
After sharp losses early in the day, stocks finish mixed as investors seek more information about the Trump administration's stance on trade.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — "What does it mean for trade?" That question continued to guide Wall Street Wednesday, leading stocks to a mixed finish after President Donald Trump's top economic adviser resigned after opposing the administration's planned tariffs on imports of steel and aluminum.

Stocks fell in the morning as investors reacted to the departure of Gary Cohn, a former Goldman Sachs executive who was seen as a proponent of free trade. The losses deepened after Trump suggested on Twitter that the U.S. may impose penalties on China as part of intellectual property disputes. The Dow Jones industrial average fell as much as 349 points.

Cohn, the director of the National Economic Council, was known to disagree with the tariff plan, which has also drawn criticism from Republicans in Congress as well as from much of corporate America.

"He was seen as a key proponent of free trade to balance some of the other more protectionist-type advisers in the administration," said Keith Parker, U.S. Equity Strategist for UBS. Cohn was also considered one of the architects of last year's corporate tax cut.

The market bounced back late in the afternoon after the White House said some countries, including Canada and Mexico, might be granted exemptions to the tariffs. That suggested a lighter touch that won't affect the global economy and corporate profits as much as a broader tariff would, and wouldn't result in as much retaliation from other countries.

Industrial companies like Caterpillar and Boeing whipsawed on the news. Technology and health care companies ended higher, while energy companies fell with oil prices.

The Standard & Poor's 500 index fell as much as 1 percent during the day but finished with a loss of just 1.32 points, less than 0.1 percent, at 2,726.80. The Dow Jones industrial average declined 82.76 points, or 0.3 percent, to 24,801.36.

The Nasdaq composite gained 24.64 points, or 0.3 percent, to 7,396.65. The Russell 2000 index of smaller-company stocks added 12.33 points, or 0.8 percent, to 1,574.53. It's fared better than the S&P and Dow over the last week as the companies on that index are far more U.S.-focused and would stand to lose less from a flare-up in global trade tensions.

In response to the planned steel and aluminum tariffs, the European Union has proposed tariffs on U.S. exports including motorcycles and bourbon. Jack Daniel's maker Brown-Forman sank after CEO Paul Varga said his company "could be an unfortunate and unintended victim" of more hostile trade. Varga said the company has been selling more lower-priced liquors in Europe, a strategy that leaves it more vulnerable to higher costs.

The company also forecast a smaller-than-expected annual profit and its stock dropped $3.15, or 5.6 percent, to $52.89. Motorcycle maker Harley-Davidson slid 43 cents, or 1 percent, to $43.90.

Discount retailer Dollar Tree's fourth quarter results disappointed investors, and so did its forecasts for the current year. It tumbled $15.11, or 14.5 percent, to $89.25. Competitor Ross Stores lost $5.11, or 6.3 percent, to $75.40 following its report.

Benchmark U.S. crude dropped $1.45, or 2.3 percent, to $61.15 a barrel in New York after the Energy Department reported that U.S. oil production rose last week. Brent crude, used to price international oils, fell $1.45, or 2.2 percent, to $64.34 a barrel in London. Exxon Mobil tumbled $1.92, or 2.5 percent, to $74.26 and Hess lost $2, or 4.1 percent, to $46.48.

On Twitter, Trump said the government is "acting swiftly on intellectual property theft." The U.S. Trade Representative is investigating whether Chinese intellectual property rules are "unreasonable or discriminatory" to American business.

Parker said the tariffs could reduce corporate profits by about $10 billion, far less than the boost corporations will get from the tax cut that was signed into law in December. However he said steps against China, and retaliation by the Chinese government, could raise the cost of items including phones, technology goods, and clothing.

"The risk is that given China policy and actions that there could be something specific placed on Chinese goods, which would potentially lead to a retaliatory action," he said.

While most investors interpreted the departure of Cohn as a loss, Parker said his resignation might keep some of the administration's protectionist plans in check when combined with criticism from Republicans in Congress and the generally negative stock market reaction.

In other energy trading, wholesale gasoline lost 2 cents to $1.91 a gallon. Heating oil declined 3 cents to $1.87 a gallon. Natural gas rose 3 cents to $2.78 per 1,000 cubic feet.

Bond prices edged higher. The yield on the 10-year Treasury note fell to 2.88 percent from 2.89 percent.

Metals prices gave back some of Tuesday's gains. Gold fell $7.60 to $1,327.60 an ounce. Silver slid 29 cents, or 1.7 percent, to $16.49 an ounce. Copper lost 2 cents to $3.14 a pound.

The dollar dipped to 106.07 yen from 106.21 yen. The euro edged down to $1.2403 from $1.2405.

Germany's DAX rose 1.1 percent and Britain's FTSE 100 gained 0.2 percent while the French CAC 40 added 0.3 percent. Asian markets started flat but losses widened in the afternoon. The Japanese Nikkei 225 dropped 0.8 percent while South Korea's Kospi fell 0.4 percent. The Hang Seng of Hong Kong sank 1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...-in-asia-after-china-reports-surge-in-exports

*Stocks Rise as Trump Signs Tariffs, but Trade Fears Ease*
U.S. stocks rise Thursday as President Donald Trump's proposed tariffs on aluminum and steel imports appear to be less harsh than Wall Street had feared.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — After hours of indecisive trading, stocks finished with modest gains Thursday after President Donald Trump formally ordered tariffs on steel and aluminum imports with the terms were less harsh than investors had feared.

Stocks rallied following reports that Canada and Mexico will be exempted indefinitely from the tariffs and that other countries will be invited to negotiate for exemptions as well.

Congressional Republicans and business leaders oppose the tariffs and have pushed for the administration to take a more measured approach that would invite less backlash from other countries.

"The president's tone was far more pragmatic," said Quincy Krosby, chief market strategist at Prudential Financial. "This certainly is not the strict tariff proposal that the president had suggested in the past couple of weeks."

Health care companies rose after pharmacy benefits manager Express Scripts accepted a $52 billion offer from health insurer Cigna. Technology companies also moved higher, but energy companies slipped along with oil prices.

The Standard & Poor's 500 index climbed 12.17 points, or 0.4 percent, to 2,738.97. The Dow Jones industrial average rose 93.85 points, or 0.4 percent, to 24,895.21. The Nasdaq composite rose for the fifth day in a row, gaining 31.30 points, or 0.4 percent, to 7,427.95.

The Russell 2000 index of smaller-company stocks dipped 2.57 points, or 0.2 percent, to 1,571.97. The index had jumped 4.5 percent over the previous four days as discussion about the proposed tariffs prompted investors to buy U.S.-focused companies and sell multinational firms.

Friday could prove to be another dramatic day on Wall Street as investors review the government's February jobs report. Stocks tumbled after the January report showed unexpectedly strong growth in wages, which set off worries about inflation.

The insurer Cigna will spend about $52 billion to acquire the nation's biggest pharmacy benefit manager, Express Scripts, the latest in a string of proposed deals as health care's bill payers attempt to get a grip on rising costs. Express Scripts jumped $6.30, or 8.6 percent, to $79.72 while Cigna lost $22.25, or 11.5 percent, to $172.

Pharmacy benefit managers run drug plans for insurers and employer-based plans. Like health insurers, they have struggled to corral spiraling costs, so in the last few years several big health insurers have created their own pharmacy benefits management businesses or bough them. And late last year, drugstore chain and pharmacy benefits manager CVS agreed to buy insurer Aetna for $69 billion.

Grocery store Kroger posted a bigger fourth-quarter profit and said its digital sales almost doubled in the past year, but its profit forecast for the current year disappointed investors. Kroger expects to earn between $1.95 and $2.15 a share for the year, while FactSet says analysts expected a profit of $2.15 per share on average. The stock fell $3.25, or 12.4 percent, to $22.98.

Newspaper publisher Tronc plunged $4.77, or 24.1 percent, to $15.05 after its quarterly profit fell far short of Wall Street's forecasts.

Benchmark U.S. crude fell $1.03, or 1.7 percent, to $60.12 a barrel in New York. Brent crude, used to price international oils, lost 73 cents, or 1.1 percent, to $63.61 a barrel in London. That led to more losses for energy companies.

Investors expect February's jobs report will show another month of strong hiring. According to FactSet, they expect to see that hourly wages grew 2.8 percent. That's similar to last month's report, which caught investors by surprise. Wall Street feared the stronger wage gains mean inflation is picking up and that interest rates will start to rise more rapidly, slowing the economy.

That helped touch off a nine-day, 10 percent plunge for the S&P 500, which has yet to fully recover.

Friday is the ninth anniversary of the current bull market. March 9, 2009, was the lowest point for the S&P 500 after the 2008-09 financial crisis that touched off the Great Recession. The index has roughly quadrupled since then and it's about five months away from becoming the longest-lived bull market since World War II.

Bond prices edged higher. The yield on the 10-year Treasury note declined to 2.85 percent from 2.88 percent. Banks traded lower, because lower yields mean they can't make as much money from lending.

The CAC 40 in France added 1.3 percent and the DAX in Germany rose 0.9 percent. In Britain the FTSE 100 gained 0.6 percent. That came after the European Central Bank hinted that it is closer to exiting its extraordinary monetary stimulus effort.

The Hang Seng in Hong Kong jumped 1.5 percent while Japan's Nikkei 225 index edged 0.1 percent higher. The South Korean Kospi gained 1.3 percent.

In other energy trading, wholesale gasoline declined 4 cents to $1.87 a gallon. Heating oil dipped 2 cents to $1.86 a gallon. Natural gas slid 2 cents to $2.76 per 1,000 cubic feet.

Gold lost $5.90 to $1,321.70 an ounce. Silver added 1 cent to $16.50 an ounce. Copper fell 6 cents to $3.08 a pound.

The dollar inched up to 106.24 yen from 106.07 yen. The euro fell to $1.2306 from $1.2403.


----------



## bigdog

https://www.usnews.com/news/busines...es-rise-as-trade-fears-on-trumps-tariffs-ease

*US Stocks Soar on Strong Jobs Report; Inflation Fears Ease*
On the ninth anniversary of the bull market, Wall Street gets just what it wanted from the latest jobs report, sending stocks and bond yields moved sharply higher.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Wall Street got exactly what it wanted from Friday's jobs report: solid hiring, moderate wage growth and continued low unemployment. Investors sent stocks sharply higher, particularly their recent favorites, technology companies.

U.S. employers added 313,000 jobs in February, more than forecast, and wages didn't rise as much as investors had feared. The Labor Department also said January's spike in wages was a bit smaller than it originally thought. It made for a happy ninth anniversary for the current bull market.

A month earlier, a jump in wages got investors worried about inflation and set off a stock market swoon, giving the benchmark S&P 500 index its first 10 percent decline in two years.

"I think the fears of wages getting out of control in this point in the cycle ... were squashed," said Katie Nixon, chief investment officer for Northern Trust Wealth Management.

Bond yields also moved solidly higher as investors anticipated that the solid jobs survey portends more steady growth in the U.S. economy.

The Nasdaq composite regained the last of its February losses and closed at an all-time high. Banks also rose as interest rates increased, and industrial and health care and basic materials companies also climbed. Those sectors tend to do better when the economy is growing quickly.

The S&P 500 index climbed 47.60 points, or 1.7 percent, to 2,786.57. The Dow Jones industrial average rose 440.53 points, or 1.8 percent, to 25,335.74. The Nasdaq composite jumped 132.86 points, or 1.8 percent, to 7,560.81. The Russell 2000 index of smaller-company stocks picked up 25.18 points, or 1.6 percent, to 1,597.14.

Apple rose $3.04, or 1.7 percent, to $179.98 and Microsoft jumped $2.11, or 2.2 percent, to $96.54. Both finished at record highs. Technology companies have led the market's rally since early 2017, and they have led the recovery from its recent lows as well.

The S&P 500 is still 3 percent beneath its latest record high close, which came on Jan. 26. None of the other major S&P sectors have recovered all of their February losses, as technology has.

Bond prices dropped. The yield on the 10-year Treasury note rose to 2.90 percent from 2.85 percent. Banks advanced, but high-dividend stocks like utilities and phone companies fell. Those stocks are often compared to bonds and they tend to fall when yields move higher, as higher yields make them less appealing to investors seeking income.

Stocks initially declined last week after President Donald Trump said he would place tariffs on imported steel and aluminum. They've recovered their losses after he granted exemptions to Canada, Mexico, and potentially to other countries.

Nixon said the administration appears to be setting itself up to take a harder line in China. While China isn't a major exporter of steel to the U.S., trade disputes between the two countries aren't uncommon and the government is currently investigating China's treatment of intellectual property held by U.S. companies.

"Clearly the target here is China and how that unfolds will be important for markets," Nixon said. "The collateral damage could be relatively wide unless it's done carefully, and so far the process has not been very careful."

U.S. and South Korean officials said Trump might meet with North Korean leader Kim Jong Un by May to negotiate a potential end to Pyongyang's nuclear weapons program. The news helped send South Korea's Kospi up 1.1 percent. Other Asian indexes also rose. Japan's benchmark Nikkei 225 gained 0.5 percent and. Hong Kong's Hang Seng also rose 1.1 percent.

The White House later said the meeting won't happen unless North Korea takes "concrete steps" to match promises it has made.

Netflix rose $14.44, or 4.6 percent, to $331.44 after the New York Times reported that the streaming service is negotiating with Barack Obama to have the former president and his wife Michelle produce shows. The two sides haven't confirmed that they are in talks. GBH Insights analyst Daniel Ives said a deal with the Obamas would be "another major win for Netflix" as it tries to launch more and more original shows.

Toymakers fell following news reports that Toys R Us is getting ready to liquidate its U.S. operations. The chain, which filed for bankruptcy protection, has been unable to find a buyer or restructure its debt. Despite its struggles, it's still a major retailer of toys. Hasbro dropped $1.92, or 2.1 percent, to $91.46 while Mattel sank $1.13, or 7.1 percent, to $14.84.

Energy companies climbed as benchmark U.S. crude added $1.92 or 3 percent, to $62.04 a barrel in New York, while Brent crude, used to price international oils, rose $1.88, or 3 percent, to $65.49 a barrel in London.

Elsewhere, wholesale gasoline added 4 cents to $1.90 a gallon. Heating oil rose 3 cents to $1.89 a gallon. Natural gas lost 4 cents to $2.73 per 1,000 cubic feet.

In Europe, France's CAC 40 rose 0.4 percent while Germany's DAX fell 0.1 percent. The FTSE 100 in Britain rose 0.3 percent.

Gold rose $2.30 to $1,324 an ounce. Silver added 11 cents to $16.61 an ounce. Copper jumped 6 cents, or 1.9 percent, to $3.14 a pound.

The dollar rose to 106.77 yen from 106.24 yen. The euro rose to $1.2313 from $1.2306.

0586


----------



## bigdog

https://www.usnews.com/news/busines...-rise-after-wall-street-gains-on-jobs-numbers

*Tech Gains but Industrials Slide, Leaving Indexes Mixed*
Technology companies continue to rally Monday while industrial companies slump, leaving stock indexes mixed at the close of trading.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks were split Monday as technology companies continued to climb, but Boeing and other industrial companies gave back some of the ground they won on Friday.

Companies like Apple and Alphabet, Google's parent company, and chipmakers including Micron Technology have led the market's recovery in recent weeks. Retailers including Amazon and Starbucks also made headway. The market was coming off its biggest gain in a month following the February jobs report, which showed strong hiring and moderate growth in wages.

Inflation has been the market's dominant concern over the last six weeks, and two more measuring sticks of inflation will be reported this week as the Labor Department discloses data on consumer prices Tuesday morning and producer prices on Wednesday. Prices paid by consumers jumped in January and so did producer prices, which measure the cost of goods before they reach the consumer.

The Federal Reserve is gradually raising interest rates to keep inflation in check, and it expects to boost rates at least three times this year. JJ Kinahan, chief market strategist for TD Ameritrade, said investors are looking at a lot of data but are really asking one question.

"If you think about the selloffs that we've had, they've all been about 'are we going to get a fourth rate hike or aren't we?'" he said.

The S&P 500 index fell 3.55 points, or 0.1 percent, to 2,783.02. The Dow Jones industrial average declined 157.13 points, or 0.6 percent, to 25,178.61. Almost all of that loss came from three industrial stocks: Boeing, Caterpillar and United Technologies.

The Nasdaq composite finished at another record high after it added 27.51 points, or 0.4 percent, to 7,588.32. The Russell 2000 index of smaller-company stocks rose 3.91 points, or 0.2 percent, to 1,601.06.

Most of the stocks on the New York Stock Exchange ended the day higher.

Optical communications company Oclaro surged after it agreed to be bought by optical networking company Lumentum Holdings. The deal values Oclaro at $9.99 a share, or $1.69 billion, and its stock gained $2.16, or 27.5 percent, to $10.01. Lumentum also rose $3.03, or 4.4 percent, to $72.

Late Friday the Wall Street Journal reported that Intel might try to buy rival Broadcom. Broadcom is trying to buy a third chipmaker, Qualcomm, for $117 billion, and the Journal said that if that deal appears to be moving forward, Intel will consider responses that could include an attempt to buy Broadcom. It could also attempt a smaller deal.

Broadcom jumped $9.06, or 3.6 percent, to $262.84 while Intel fell 67 cents, or 1.3 percent, to $51.52. Qualcomm gave up 22 cents to $62.81.

Industrial companies like aerospace and defense firms and machinery makers lost about half of what they gained during their rally Friday. Boeing shed $10.33, or 2.9 percent, to $344.19 and Lockheed Martin lost $7.39, or 2.2 percent, to $333.10. Construction equipment maker Caterpillar dipped $3.75, or 2.4 percent, to $154.50.

Industrial companies have bounced around since President Donald Trump said he would order tariffs on imported steel and aluminum. That will mean higher costs for companies that use those metals to make machinery, and their sales could be hurt if other companies respond by placing tariffs on goods made in the U.S.

The February jobs report, which came out on Friday, eased investors' minds and sent stocks jumping. The market had tumbled in early February following the January jobs report, which showed a surprise spike in hourly wages. Wall Street worried that that might be the start of faster inflation, which would lead the Federal Reserve to raise interest rates more rapidly. Higher rates slow down economic growth.

Goldman Sachs said David Solomon will become its sole president and chief operating officer, clearing the way for Solomon to become the firm's next CEO. Solomon and Harvey Schwartz had shared both job titles, but the company says Schwartz will retire next month. Last week the Wall Street Journal said CEO Lloyd Blankfein could retire as soon as the end of this year, and that Solomon and Schwartz were the only two candidates to replace him.

Goldman's stock gained $2.61, or 1 percent, to $273.38.

Benchmark U.S. crude declined 68 cents, or 1.1 percent, to $61.36 a barrel in New York. Brent crude, used to price international oils, shed 54 cents to $64.95 a barrel in London.

Wholesale gasoline lost 1 cent to $1.89 a gallon. Heating oil fell 2 cents to $1.86 a gallon. Natural gas climbed 5 cents to $2.78 per 1,000 cubic feet.

Bond prices edged higher. The yield on the 10-year Treasury note dipped to 2.87 percent from 2.90 percent.

Gold dipped $3.20 to $1,320.80 an ounce. Silver lost 7 cents to $16.54 an ounce. Copper lost 1 cent to $3.12 a pound.

The dollar slid to 106.35 yen from 106.77 yen late Friday. The euro rose to $1.2336 from $1.2313.

The German DAX rose 0.6 percent and the FTSE 100 in London lost 0.1 percent. France's CAC 40 eked out a small gain. Tokyo's Nikkei 225 added 1.6 percent and the Hang Seng of Hong Kong jumped 1.9 percent. The Kospi in South Korea gained 1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ixed-on-trade-outlook-tighter-china-oversight

*Stocks Sink as Technology Rally Fades; Qualcomm Drops*
US stocks fall as a seven-day rally for technology companies ends after President Donald Trump blocked Broadcom's effort to buy chipmaker Qualcomm.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — A seven-day surge in technology stocks ended Tuesday after President Donald Trump blocked Singapore-based chipmaker Broadcom's effort to buy Qualcomm. Trump said he opposed the $117 billion deal because it could have been detrimental to national security.

The Dow Jones industrial average climbed as much as 197 points in early trading after investors were pleased with a Labor Department report that showed inflation remained in check last month. But the gains soon faded.

Technology stocks were at record highs after a recent rally. While Qualcomm had rejected all of Broadcom's offers, investors are now wondering if other deals might also be blocked or if companies will hesitate before making bids for overseas competitors.

"I don't think we've started to price in protectionism on a broader level," said Gina Martin Adams, chief equity strategist for Bloomberg Intelligence.

The S&P 500 index lost 17.71 points, or 0.6 percent, to 2,765.31. The Dow Jones industrial average slid 171.58 points, or 0.7 percent, to 25,007.03. The Nasdaq composite fell 77.31 points, or 1 percent, to 7,511.01, its first decline after seven straight gains. The Russell 2000 index of smaller-company stocks sank 9 points, or 0.6 percent, to 1,592.05.

Qualcomm is one of the biggest makers of processors that power smartphones and other mobile devices. The deal would have been the largest in the history of the technology industry and Broadcom's offer came as other countries are also getting ready to build faster "5G" wireless networks.

Trump's decision followed a recommendation from the Committee for Foreign Investment in the U.S., which said Broadcom might cut back on research and development spending.

Qualcomm slid $3.11, or 5 percent, to $59.07. Broadcom rose more than 3 percent early on but finished with a loss of $1.62 to $261.22. Intel, a competitor, added 26 cents to $51.78. The Wall Street Journal reported Friday that Intel wanted to stop the deal and might try to buy Broadcom to make that happen.

Trump also cited national security risks this month in announcing tariffs on imported aluminum and steel, and investors appeared to be wondering if at least one other deal will face new obstacles. In November Bermuda-based chipmaker Marvell Technology Group agreed to buy competitor Cavium for $6 billion. Cavium lost $4, or 4.4 percent, to $86.95 while Marvell lost $1.43, or 5.9 percent, to $22.94.

The U.S. government has blocked deals by Chinese companies in the last few years under both Barack Obama and Trump, but Adams, of Bloomberg Intelligence, said investors are more focused on the issue now.

"We no longer have tax reform dangling in front of us," she said. "It's adding to an environment in which the market is a bit more nervous."

The government said prices paid by consumers rose 0.2 percent in February, matching estimates. Excluding food and energy costs, prices have risen 1.8 percent in the last year. Prices had jumped in January. Over the last month investors have worried about the prospect of faster inflation, but Tuesday's price report and the monthly jobs report on Friday suggest inflation isn't moving any more rapidly than it did in the recent past.

"If you put the two of them together it paints a very clear picture of an economy that's operating at a very high level, that's showing some inflation, but not overheating inflation," said Rick Rieder, BlackRock's chief investment officer of global fixed income.

Rieder said that in general, service costs are rising and the costs of goods are falling, although clothing prices have bounced back a bit recently.

With investors expecting slower gains in rates, bond yields headed lower. The yield on the 10-year Treasury note slipped to 2.85 percent from 2.87 percent. Faster inflation would likely result in the Fed raising interest rates more quickly. Investors feared that could significantly slow the economy and the market's gains.

Lower yields mean lower interest rates, and that weighed on bank stocks. Bank of America fell 48 cents, or 1.5 percent, to $32.36.

Companies that are considered bond proxies, like utilities and real estate investment trusts, did better than the rest of the market. They often move in the opposite direction of bond yields because investors seeking income buy them for their big dividend payments.

Benchmark U.S. crude slumped 65 cents, or 1.1 percent, to $60.71 a barrel in New York. Brent crude, used to price international oils, lost 31 cents to $64.64 per barrel in London.

Wholesale gasoline fell 1 cent to $1.89 a gallon. Heating oil rose 1 cent to $1.87 a gallon. Natural gas gained 1 cent to $2.79 per 1,000 cubic feet.

Gold added $6.30 to $1,327.10 an ounce. Silver rose 9 cents to $16.63 an ounce. Copper gained 1 cent to $3.14 a pound.

The dollar rose to 106.61 yen from 106.35 yen. The euro rose to $1.2397 from $1.2336.

Germany's DAX shed 1.6 percent. Britain's FTSE 100 lost 1.1 percent while the CAC 40 in France slid 0.6 percent.

The Japanese Nikkei 225 index gained 0.7 percent and the Kospi of South Korea added 0.4 percent. In Hong Kong, the Hang Seng was unchanged.


----------



## bigdog

https://www.usnews.com/news/busines...-tumble-after-tillerson-exit-wall-street-drop

*Banks, Industrials Fall as Trade Tensions Hit Stocks Again*
US stocks fall as banks sink along with interest rates and industrial companies decline as investors worry about rising trade tensions.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks sank again Wednesday as investors worried about tariffs and rising trade tensions. That hurt industrial companies, while banks slumped along with interest rates.

Stocks rose in the morning as investors looked for a rebound from the previous day's losses, but with European leaders warning about the risks of trade disputes, indexes gradually headed lower. Boeing and other industrial companies, including airlines and defense companies, took some of the worst losses.

Stocks have bounced around since President Donald Trump announced his tariff plans at the start of this month. They slumped at first, but came back after the administration said it would grant exemptions to some countries. They've slipped over the last two days as investors considered the possibility of greater trade tensions with Europe and China.

"Since the correction, investors have been a little bit more sensitive to risk," said Karyn Cavanaugh, senior market strategist at Voya Investment Strategies. "Before the correction, investors were almost bulletproof."

Elsewhere, banks fell along with bond yields. Declining yields force interest rates on loans like mortgages lower, which hurts bank's profits. Household goods companies also fell while department stores and other retailers lost ground after the Commerce Department said retail sales declined in February.

The S&P 500 index lost 15.83 points, or 0.6 percent, to 2,749.48. The Dow Jones industrial average lost 248.91 points, or 1 percent, to 24,758.12. The Dow is comprised of 30 large multinational companies, some of which will feel a pinch from higher metals costs or from retaliatory tariffs that may be placed on U.S.-made goods.

The Nasdaq composite fell 14.20 points, or 0.2 percent, to 7,496.81. The Russell 2000 index of smaller-company stocks declined 7.74 points, or 0.5 percent, to 1,584.31.

European Union head Donald Tusk urged Trump to pursue more cooperation with Europe instead of putting tariffs on European goods. The EU wants an exemption from the tariffs on aluminum and steel imports that Trump recently announced and has said it could retaliate with tariffs of its own.

German Chancellor Angela Merkel said she can't predict if those talks will succeed.

Aerospace and defense giant Boeing slid $8.41, or 2.5 percent, to $330.26. Arconic, which uses a lot of aluminum in making products for aerospace companies, lost 89 cents, or 3.6 percent, to $24.06. Defense contractors including Raytheon also declined, as did airlines.

Cavanaugh said a trade war is unlikely because the Trump administration is unlikely to take steps that seriously harm global trade. While investors have sold industrial stocks, she said it's possible some of them will benefit from changes to NAFTA or other trade agreements.

"You have to be careful when you're trying to Washington-proof your portfolio because you don't know what's going to happen," she said.

Bond prices climbed, sending yields lower. The yield on the 10-year Treasury note fell to 2.82 percent from 2.84 percent, a significant move. Citigroup fell $1.44, or 1.9 percent, to $73.47 and Bank of New York Mellon lost $1.09, or 1.9 percent, to $54.87.

Retail sales dipped 0.1 percent last month as car sales declined, and so did purchases at gas stations and department stores. Kohl's slid $1.86, or 2.9 percent, to $62.25 and discount retailer Dollar Tree lost $1.61, or 1.7 percent, to $92.81.

The Commerce Department said shoppers spent more money online and at catalog retailers, and Amazon edged higher. Spending at restaurants, clothiers and building materials stores also increased.

Signet Jewelers plunged after the jewelry retailer gave profit and sales forecasts that were weaker than analysts expected. Signet also said it intends to cut at least $200 million in spending and will sell its non-prime credit receivables. It will take a loss of about $170 million on that sale. The stock dropped $9.69, or 20.2 percent, to $38.22.

Tesla declined after Bloomberg News reported that a second senior finance executive resigned. Bloomberg said Treasurer Susan Repo left to become chief financial officer at another company. A week ago the electric car maker said Chief Accounting Officer Eric Branderiz left "for personal reasons." Separately, CNBC reported that Tesla is having problems manufacturing some parts for its highly anticipated Model 3 sedan.

Tesla slipped $15.21, or 4.4 percent, to $326.63.

Benchmark U.S. crude gained 25 cents to $60.96 a barrel in New York. Brent crude, used to price international oils, added 25 cents to $64.89 per barrel in London.

Wholesale gasoline added 4 cents to $1.92 a gallon. Heating oil rose 1 cent to $1.89 a gallon. Natural gas slid 6 cents to $2.73 per 1,000 cubic feet.

Gold slipped $1.50 to $1,325.60 an ounce. Silver lost 9 cents to $16.54 an ounce. Copper rose 2 cents to $3.16 a pound.

The dollar fell to 106.25 yen from 106.61 yen. The euro slipped to $1.2375 from $1.2397.

France's CAC 40 gave up 0.2 percent and the British FTSE 100 lost 0.1 percent. Germany's DAX added 0.1 percent.

Japan's benchmark Nikkei 225 lost 0.9 percent while South Korea's Kospi fell 0.3 percent. Hong Kong's Hang Seng dropped 0.5 percent.


----------



## bigdog

https://www.usnews.com/news/busines...s-waver-as-market-mulls-kudlow-trade-tensions

*US Stocks End Mostly Lower as Midday Gains Slip Away*
US stocks mostly take losses as smaller companies, drugstores and packaged food companies finish lower.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks finished mostly lower Thursday in another choppy day of trading after a midday rally faded. Industrial and technology companies rose, but smaller companies and chemical makers skidded.

Without any major economic reports or further development on issues like tariffs, stocks drifted up and down. The market was coming off two days of losses, and while stocks briefly moved higher in the middle of the day, they couldn't sustain any momentum.

Agribusiness company Monsanto fell after Bloomberg News reported that U.S. authorities have concerns about its sale to Bayer and might order Bayer to sell more assets. Toymakers Hasbro and Mattel sagged as Toys R Us moved toward shuttering its U.S. stores.

Industrial companies bounced back after three days of declines that stemmed from worries about trade tensions. After big gains earlier this month, smaller, more U.S.-focused companies continued to slip. Drugstores and packaged food companies also declined. Technology companies finished with small gains, however.

Tech stocks did far better than the rest of the stock market in 2017, and they are the only part of the S&P 500 that has fully recovered from last month's sell-off, and Lindsey Bell, an investment strategist at CFRA Research, thinks there is a good chance the industry will outpace the broader market again this year.

"Our economy in general and our world in general is becoming more connected digitally and this is an area that's going to continue to thrive as time goes on," Bell said. She added that chipmakers and service companies like Alphabet and Facebook should continue to do well.

The S&P 500 fell 2.15 points, or 0.1 percent, to 2,747.33. It climbed as much as 13 points earlier but wound up with its fourth consecutive loss. The Dow Jones industrial average added 115.54 points, or 0.5 percent, to 24,873.66. The Nasdaq composite lost 15.07 points, or 0.2 percent, to 7,481.74. The Russell 2000 index of smaller-company stocks slid 7.69 points, or 0.5 percent, to 1,576.62.

Most the companies listed on the New York Stock Exchange traded lower.

Monsanto stock fell $5.95, or 4.8 percent, to $117.20 after Bloomberg News reported that antitrust regulators want Bayer to sell more assets before they allow the company to buy Monsanto. The report cited unnamed sources familiar with the matter. Bayer agreed to buy Monsanto for $66 billion in 2016, and its U.S.-traded shares rose 22 cents to $29.76 Thursday.

Mattel declined 34 cents, or 2.4 percent, to $13.84 and Hasbro fell 38 cents, or 0.4 percent, to $88.15 as Toys R Us prepares to shut down its U.S. operations. CEO David Brandon told employees Wednesday the chain plans to liquidate all of its U.S. stores, according to an audio recording of the meeting obtained by The Associated Press. Hasbro and Mattel each get about 10 percent of their sales from Toys R Us, which has 740 stores and 30,000 employees in the U.S.

The 70-year-old company filed for Chapter 11 bankruptcy protection in late October and said in late January that it would close 182 stores. Mattel has plunged 22 percent since then and Hasbro has fallen 7 percent.

IBM and chipmaker Broadcom helped technology companies move higher. Thanks to their big gains in the last 15 months, technology companies now comprise one-fourth of the total value of the S&P 500. It's been almost 20 years since any sector dominated the index that way: according to S&P Global, technology made up one-third of the index in early 2000, at the height of the dot-com boom.

Bell, of CFRA Research, said more deals are likely in the chip industry as both Broadcom and Intel look to buy other companies following the government's decision to block Broadcom's effort to buy Qualcomm.

Discount retailer Dollar General climbed $4.24, or 4.8 percent, to $93.44 after it said shoppers spent more money per trip during the fourth quarter. The company also gave a strong forecast for the year. Competitor Dollar Tree gained $1.35, or 1.5 percent, to $94.16.

Oil and gas pipeline partnerships including Williams Cos. dropped after the Federal Energy Regulatory Commission announced changes to tax rules.

Benchmark U.S. crude added 23 cents to $61.19 a barrel in New York. Brent crude, used to price international oils, rose 23 cents to $65.12 per barrel in London.

Wholesale gasoline remained at $1.92 a gallon. Heating oil rose 1 cent to $1.89 a gallon. Natural gas fell 5 cents to $2.68 per 1,000 cubic feet.

Gold fell $7.80 to $1,317.80 an ounce. Silver fell 12 cents to $16.42 an ounce. Copper lost 3 cents to $3.13 a pound.

Bond prices edged lower. The yield on the 10-year Treasury note rose to 2.83 percent from 2.82 percent.

The dollar dipped to 106.24 yen from 106.25 yen. The euro fell to $1.2303 from $1.2375.

The DAX in Germany rose 0.9 percent and France's CAC 40 gained 0.6 percent. The British FTSE 100 added 0.2 percent. Japan's benchmark Nikkei 225 edged 0.1 percent higher while South Korea's Kospi rose 0.3 percent. Hong Kong's Hang Seng rose 0.3 percent.


----------



## bigdog

https://www.usnews.com/news/busines...tocks-decline-with-trade-us-politics-in-focus

*US Stocks Inch Higher as Banks and Industrial Companies Rise*
Stocks reverse some of their losses from earlier in the week as smaller, U.S.-focused companies rise and energy companies climb in tandem with oil prices.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks edged higher Friday as gains from energy companies, industrial firms and smaller companies helped the market end a modest losing streak.

Oil and gas companies climbed along with the price of oil Friday while industrial companies recovered some of the losses they sustained earlier this month. Beauty products retailer Ulta and software company Adobe rose after strong quarterly reports. Tiffany dropped after reporting weak sales, and online retailers Overstock.com and Wayfair slumped as investors worried about a possible price war.

All this week, stocks moved higher in early trading only to shed those gains as the day went on. They broke out of that pattern Friday, even though the gains were modest.

"From an investor point of view, the fact that we haven't rallied right back to the highs is a good thing," said Randy Frederick, vice president of trading and derivatives at Charles Schwab. Positive news about the economy has been countered by concerns about rising tensions over international trade.

"The pullback that we've been in is pretty much driven by President Trump's proclamation about tariffs," Frederick said.

The S&P 500 index gained 4.68 points, or 0.2 percent, to 2,752.01. The Dow Jones industrial average added 72.85 points, or 0.3 percent, to 24,946.51. The Nasdaq composite rose 0.25 points to 7,481.99. The Russell 2000 index of smaller-company stocks jumped 9.43 points, or 0.6 percent, to 1,586.05.

After a dramatic drop at the beginning of February followed by a rapid recovery of some of their losses, stocks have bounced around for the last month. The Dow, which surged past 26,000 in mid-January, has been wobbling around 25,000 for about a month.

The S&P 500 fell for the first four days of the week and finished with a decline of 1.2 percent. The worst losses came Tuesday and Wednesday after President Donald Trump blocked Singapore-based chipmaker Broadcom's effort to buy its U.S. rival Qualcomm and European leaders warned about the risks of trade disputes.

The Federal Reserve said factory output continued to rise as companies in the U.S. produced more cars, computers and furniture. It reported that manufacturing output rose 1.2 percent in February after three months of weak results. Factory output has increased 2.5 percent over the last year.

The Commerce Department said homebuilders started work on fewer apartment buildings in February, and that caused overall housing starts to drop 7 percent. Builders have shifted their efforts to single-family homes recently as the economy has improved.

Benchmark U.S. crude rose $1.15, or 1.9 percent, to $62.34 a barrel in New York. Brent crude, used to price international oils, climbed $1.09, or 1.7 percent, to $66.21 a barrel in London.

Tiffany dropped $5.20, or 5.1 percent, to $97.51 after it reported weaker sales than analysts expected. Its forecast for the current year was also below what investors were looking for.

Online discount retailer Overstock.com said profit margins have fallen hard because of competition with Wayfair, and CEO Patrick Byrne said the company will "respond in kind," meaning Overstock will try to ramp up its growth and will be willing to lose money to achieve that goal. The stock dropped $2.50, or 5.2 percent, to $45.70 while Wayfair lost $5.01, or 6 percent, to $78.95.

While Broadcom is no longer trying to buy rival chipmaker Qualcomm, both companies are still at the center of deal discussions. The Financial Times reported that former Qualcomm chairman Paul Jacobs wants to take the company private and has had talks with potential investors and the Qualcomm board. Qualcomm added 73 cents, or 1.2 percent, to $60.62, which gives it a market value of about $90 billion.

With the Qualcomm deal finished, Broadcom says it still sees opportunities for other acquisitions. The company also disclosed its quarterly results, and its shares fell $12.89, or 4.8 percent, to $254.87.

The top policymakers at the Federal Reserve will meet Tuesday and Wednesday, and they are expected to raise interest rates again. Since the market is fairly sure of what the Fed will do, there will be a lot of focus on what it says. After the meeting ends, Fed Chairman Jerome Powell will hold his first news conference since he replaced Janet Yellen last month.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.84 percent from 2.83 percent.

In other energy trading, wholesale gasoline gained 2 cents to $1.95 a gallon. Heating oil picked up 2 cents to $1.91 a gallon. Natural gas edged up 1 cent to $2.69 per 1,000 cubic feet.

Gold dipped $5.50 to $1,312.30 an ounce. Silver lost 15 cents to $16.27 an ounce. Copper fell 2 cents to $3.11 a pound.

The dollar declined to 106.10 yen from 106.24 yen. The euro fell to $1.2284 from $1.2303.

The German DAX gained 0.4 percent while Britain's FTSE rose 0.3 percent. The CAC 40 in France added 0.3 percent. Japan's Nikkei 225 fell 0.6 percent while South Korea's Kospi edged 0.1 percent higher and Hong Kong's Hang Seng index dipped 0.1 percent.

1590


----------



## bigdog

*The Dow Jones industrial average fell 335.60 points, or 1.3 percent, to 24,610.91. During the day it fell as much as 493 points.*






https://finance.yahoo.com/m/ff380689-fb05-3250-93c5-41530e2b1d7c/ss_facebook-drags-technology.html

*Facebook drags technology companies down as stocks slide*

Jay Marley

NEW YORK (AP) — Facebook plunged to its worst loss in four years Monday and led a rout in technology companies. The social media company's stock fell following reports that a data mining firm working for the Trump campaign improperly obtained data on 50 million Facebook users.

The drop in Facebook stock came after the New York Times and the Guardian reported that the firm, Cambridge Analytica, was able to tap the profiles of more than 50 million Facebook users without their permission. Legislators in the U.S. and Europe criticized Facebook and said they want more information about what happened. Investors wondered if companies like Facebook and Alphabet will face tighter regulation as a result.

Daniel Ives, chief strategy officer and head of technology research for GBH Insights, said Facebook is in a crisis, and it will have to work hard to reassure users, investors and governments.

"This is a defining moment for them," he said. "It either becomes a blip on the radar and it helps the platform mature... or it becomes the start of something broader."

Elsewhere, the British pound rose and European stocks slumped after Britain and the European Union said they are getting closer to a deal that will complete Britain's departure from the EU in March 2019.

The S&P 500 index sank 39.09 points, or 1.4 percent, to 2,712.92. The benchmark index took its biggest loss since Feb. 8, when it tumbled almost 4 percent as investors worried that rising inflation would slow the progress of the market and the U.S. economy.

The Dow Jones industrial average fell 335.60 points, or 1.3 percent, to 24,610.91. During the day it fell as much as 493 points. The Nasdaq composite gave up 137.74 points, or 1.8 percent, to 7,344.24. The Russell 2000 index of smaller-company stocks declined 15.49 points, or 1 percent, to 1,570.56.

Larger technology companies including Apple and Microsoft fared worse than smaller ones. Another market favorite, Amazon, also dropped, and health care stocks fell more than the rest of the market.

Representatives of Britain and the European Union said they made progress on the terms of Britain's departure from the bloc. British envoy David Davis said important steps have been made in the last few days and he thinks EU leaders will back them in a meeting Thursday and Friday. Britain is scheduled to officially leave the EU on March 29, 2019.

The pound rose to $1.4050 from $1.3938. The British FTSE 100 index fell 1.7 percent and Germany's DAX fell 1.4 percent. France's CAC-40 was 1.1 percent lower.

Facebook said late Friday that it suspended Cambridge Analytica and its parent company. It said Cambridge obtained data from 270,000 people who downloaded a purported research app that was described as a personality test. A former employee said Cambridge was able to get data from tens of millions of other users who were friends with the people who downloaded that app.

Facebook first learned of the breach more than two years ago but hadn't disclosed it. Facebook also said it recently received a report that Cambridge Analytica hadn't deleted all of the data it obtained from Facebook, something Facebook said the company claimed to have done. Senator Amy Klobuchar of Minnesota said Facebook CEO Mark Zuckerberg should testify before the Senate Judiciary Committee while legislators in Britain and the European Union also called for inquiries.

On Monday Facebook said it hired an outside firm to audit Cambridge. Its stock sank $12.53, or 6.8 percent, to $172.56, its biggest one-day loss since March 2014.

Ives, of GBH, said Wall Street is more concerned about the latest situation than it was about issues like Facebook's platform spreading fake news. That's because Cambridge reportedly got access to the personal data of a large number of users, and the backlash suggests Facebook may face more regulation and could lose users, advertisers or advertising revenue.

He estimated that $5 billion in annual revenue for Facebook might be a risk and said the situation could create problems for other tech companies, especially Twitter and Alphabet's YouTube unit. Alphabet lost $34.35, or 3 percent, to $1,100.07.

Twenty-nine of the 30 Dow stocks finished the day with losses. The only exception was airplane maker Boeing.

Bond prices gave up an early gain. The yield on the 10-year Treasury note remained at 2.85 percent.

Benchmark U.S. crude fell 28 cents to $62.06 a barrel in New York. Brent crude, used to price international oils, lost 16 cents to $66.05 per barrel in London.

Wholesale gasoline lost 2 cents to $1.92 a gallon. Heating oil remained at $1.91 a gallon. Natural gas fell 4 cents to $2.65 per 1,000 cubic feet.

Gold added $5.50 to $1,317.80 an ounce. Silver rose 5 cents to $16.33 an ounce. Copper lost 2 cents to $3.08 a pound.

Tokyo's Nikkei 225 fell 0.9 percent and Hong Kong's Hang Seng edged up less than 0.1 percent. Seoul's Kospi lost 0.8 percent.

The dollar slipped to 105.97 yen from 106.10 yen. The euro rose to $1.2357 from $1.2284.


----------



## bigdog

https://www.usnews.com/news/busines...ares-mixed-as-some-recover-from-earlier-slump

*Stock Mostly Higher but Facebook Sinks Again; Oracle Plunges*
After steep losses a day ago, US stock indexes finish mostly higher as retailers rise, energy companies climb with oil prices and banks move up with interest rates.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stock indexes finished mostly higher after a day of bouncing around Tuesday as retailers, energy companies and banks recovered some of their losses from the day before, but technology companies struggled as Facebook dropped again.

Amazon led a rally among retailers, and it passed Alphabet, Google's parent, as the second most-valuable U.S.-listed company, while energy companies rose with oil prices. Banks rose along with interest rates as the leaders of the Federal Reserve met. They are expected to raise interest rates on Wednesday.

Facebook sank following reports that the Federal Trade Commission will investigate its handling of user data while authorities in the U.S. and U.K. demanded answers from the company. That came after reports that Cambridge Analytica, a data mining firm working for President Donald Trump's campaign, improperly obtained data on 50 million Facebook users without their permission.

While Facebook stock regained a portion of its losses at the end of the day, it has fallen more than 9 percent this week. Social media companies Twitter and Snap also fell as investors considered the possibility that the government will pass new laws affecting their businesses.

"We don't know what's in store for an industry that isn't really regulated," said Samantha Azzarello, global market strategist at JPMorgan Exchange Traded Funds.

The gainers Tuesday were mostly larger companies, which suffered the biggest losses Monday. Smaller companies struggled and more stocks fell than rose on the New York Stock Exchange.

After a drop of 1.4 percent Monday, the S&P 500 index rose 4.02 points, or 0.1 percent, to 2,716.94. The Dow Jones industrial average gained 116.36 points, or 0.5 percent, to 24,727.27. The Nasdaq composite rose 20.06 points, or 0.3 percent, to 7,364.30. The Russell 2000 index of smaller-company stocks dipped 0.16 points to 1,570.41.

Amazon jumped $41.58, or 2.7 percent, to $1,586.51 and Best Buy picked up $1.51, or 2.2 percent, to $70.04. Industrial companies including Caterpillar recovered much of their losses as well. Some major technology companies including Apple, Microsoft and Nvidia moved higher after significant drops a day ago.

Facebook lost $4.41, or 2.6 percent, to $168.15. The drop in the last two days is the worst for Facebook in two years, and it knocked Facebook from its perch as the fifth most valuable publicly traded company in the U.S. Warren Buffett's Berkshire Hathaway conglomerate, which owns insurance companies and railroads among many others, moved ahead of Facebook.

Other social media companies also sank: after sharp losses Monday, Twitter plunged $3.63, or 10.4 percent, to $31.35 and Snap lost 42 cents, or 2.6 percent, to $16. Alphabet, which fell 3 percent Monday, lost another $427 to $1,095.80.

Investors were disappointed with Oracle's third-quarter report. While the company announced a bigger profit than analysts expected, they were less impressed once items like lower tax rates and stock repurchases were excluded, and its sales were lower than Wall Street had forecast. The company's forecast for the fourth quarter also came up short of estimates. The stock dropped $4.90, or 9.4 percent, to $47.05.

The Federal Reserve's leaders began a two-day policy meeting that is expected to result in another interest rate increase on Wednesday. The Fed has said it expects to raise interest rates a total of three times this year, and one of the key debates on Wall Street is whether it will wind up increasing rates three times or four. The current meeting is the Fed's first since Jerome Powell became chairman, and investors will be watching his comments at a press conference Wednesday afternoon.

"Markets right now are hypersensitive to the Fed," said Azzarello of JPMorgan. She said the Fed is trying to communicate clearly with investors and it won't rush to raise interest rates.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.89 percent from 2.85 percent. When yields rise, it allows banks to charge higher interest rates on loans including mortgages.

Banks and other financial companies rose, while companies that pay large dividends, including phone and utility companies, moved lower. Those stocks tend to fall out of favor with income-seeking investors when bond yields rise.

Benchmark U.S. crude rose $1.34, or 2.2 percent, to $63.40 a barrel in New York. Brent crude, used to price international oils, gained $1.37, or 2.1 percent, to $67.42 per barrel in London.

Wholesale gasoline gained 4 cents to $1.97 a gallon. Heating oil added 4 cents to $1.95 a gallon. Natural gas picked up 2 cents to $2.68 per 1,000 cubic feet.

Gold fell $5.90 to $1,311.90 an ounce. Silver fell 14 cents to $16.19 an ounce. Copper lost 4 cents to $3.04 a pound.

The dollar rose to 106.46 yen from 105.97 yen. The euro fell to $1.2253 from $1.2357.

Germany's DAX added 0.7 percent and the CAC 40 in France gained 0.6 percent. Britain's FTSE 100 closed 0.3 percent higher. Japan's benchmark Nikkei 225 lost 0.5 percent while South Korea's Kospi edged up 0.4 percent. Hong Kong's Hang Seng inched up 0.1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...cks-advance-ahead-of-fed-meeting-tokyo-closed

*Stocks Wobble and End Lower After Fed Raises Interest Rates*
US stock indexes give up early-afternoon gains and finish with small losses after the Federal Reserve raised interest rates and said it might boost those rates at a faster pace next year.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — After a jittery afternoon of trading, major U.S. stock indexes fell Wednesday while smaller companies fared better. The Federal Reserve raised interest rates, as investors expected, and said it could raise rates at a quicker pace next year.

Stocks traded higher early in the day and jumped after the Fed announced its decision. The Dow Jones industrial average climbed 250 points, but gave it all up as new Fed Chairman Jerome Powell addressed reporters. At the end of trading it wobbled and ended lower. The dollar weakened and bond yields turned lower. Yields had risen earlier in the afternoon.

The Fed said the U.S. economy and the job market continued to improve over the last two months. It still expects to raise interest rates three times this year, and said it might raise rates three more times this year instead of two.

Brent Schutte, the chief investment strategist for Northwestern Mutual Wealth Management, said Powell is trying to tell Wall Street what the Fed's plans are without worrying investors too much. He said stocks dropped after Powell said rates might rise higher than the Fed expects.

"The market will have to get to know Jerome Powell a little bit and will have to test his credibility as Fed chairman," he said. "I would imagine the bar is higher for him in the shorter term because he is not a trained economist," unlike Janet Yellen and other predecessors.

Small and mid-size companies climbed. Energy companies led the way as oil prices jumped for the second day in a row. Homebuilders advanced following a report that sales of previously occupied homes increased in February. Cereal and packaged foods companies slumped after General Mills reported rising expenses and cut its annual profit forecast and airlines skidded after Southwest said its revenue is suffering as it cuts fares to compete with other companies.

The S&P 500 index slid 5.01 points, or 0.2 percent, to 2,711.93. The Dow Jones industrial average lost 44.96 points, or 0.2 percent, to 24,682.31. The Nasdaq composite fell 19.02 points, or 0.3 percent, to 7,345.29. The Russell 2000 index of smaller companies gained 8.90 points, or 0.6 percent, to 1,579.30.

Bond prices edged lower. The yield on the 10-year Treasury note declined to 2.88 percent from 2.90 percent Tuesday. It had risen as high as 2.93 percent as investors expected quicker gains in interest rates.

David Kelly, the chief global strategist for JPMorgan Asset Management, said stocks usually do well when rates are rising, but only up to a point.

"If interest rates are rising from a low level, there's more optimism about the economy, and that generally is a more positive thing," he said. That's the case right now, but with an important difference: the economy has been growing for almost a decade, and interest rates have been historically low for the whole time.

Kelly added that the Fed and the government need to be careful to focus on smooth growth, as the recent tax cuts will dump some short-lived stimulus into the economy.

"The overall effect of the tax cut is to deliver another keg to a keg party at 2 a.m.," he said. "The party is probably going to go a little longer but the hangover is going to be worse."

Nine of the ten biggest gainers on the S&P 500 were energy companies. Some of the biggest gains went to Marathon Oil and Anadarko Petroleum.

Benchmark U.S. crude rose $1.63, or 2.6 percent, to $65.17 a barrel in New York. Brent crude, used to price international oils, added $2.05, or 3 percent, to $69.47 a barrel in London.

General Mills, the maker of Cheerios cereal, Yoplait yogurt and other packaged foods, plunged after its third-quarter results were hurt by rising freight and commodity costs. The company also cut its annual profit outlook. The stock dropped $4.42, or 8.9 percent, to $45.51, and companies including Kellogg, J.M. Smucker and Post Holdings also fell.

After early losses, Facebook rose $1.24 to $169.39. The stock fell 9 percent Monday and Tuesday following reports a data mining firm working for President Donald Trump's campaign took data from the accounts of 50 million Facebook users without their permission. Authorities in Britain and the U.S. launched investigations into Facebook's handling of user data.

Facebook stock is down 12.5 percent from the all-time high it set Feb. 1.

Social media companies Twitter and Snap also regained a portion of their recent losses. Adding to Snap's woes, its stock fell last week after pop star Rihanna called on her fans to delete the Snapchat app after an ad for game that made jokes about her assault in 2009 by her then-boyfriend Chris Brown. Snap apologized for the ad.

In other energy trading, wholesale gasoline added 5 cents to $2.01 a gallon. Heating oil rose 5 cents to $2 a gallon. Natural gas fell 4 cents to $2.64 per 1,000 cubic feet.

Metals prices also increased. Gold rose $9.60, or 0.7 percent, to $1,321.50 an ounce and silver jumped 23 cents, or 1.4 percent, to $16.42 an ounce. Copper gained 2 cents to $3.06 a pound.

The dollar fell to 106.10 yen from 106.46 yen. The euro rose to $1.2332 from $1.2253.

The CAC 40 in France declined 0.2 percent and Britain's FTSE 100 fell 0.3 percent. Germany's DAX finished with a small gain.

Hong Kong's Hang Seng index erased earlier gains to fall 0.4 percent and South Korea's Kospi finished little changed. Markets in Japan were closed for a holiday.


----------



## bigdog

*TRUMPED AGAIN!!!!*

*The S&P 500 index skidded 68.24 points, or 2.5 percent, to 2,643.69. The Dow Jones industrial average sank 724.42 points, or 2.9 percent, to 23,957.89. The Nasdaq composite gave up 178.61 points, or 2.4 percent, to 7,166.68*






https://www.usnews.com/news/busines...-shares-mixed-after-fed-raises-interest-rates

*Stocks Dive on Trade War Fears After China Sanctions*
Stocks plunge, sending the Dow Jones industrial average down more than 700 points, after the Trump administration moved to place trade sanctions on China. That set off worries of escalating trade conflict between the world's two largest economies.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks plunged Thursday after the Trump administration slapped sanctions on goods and investment from China. The Dow Jones industrial average dropped more than 700 points as investors feared that trade tensions between the world's largest economies would escalate.

The planned sanctions include tariffs on $48 billion worth of Chinese imports as well as restrictions on Chinese investments. Trump said he's taking those steps in response to theft of American technology, and the Chinese government said it will defend itself. Investors are worried that trade tensions would hurt U.S. companies and harm the world economy.

On Thursday they fled stocks and bought bonds, which sent bond prices higher and yields lower. With interest rates falling, banks took some of the worst losses. Technology and industrial companies, basic materials makers and health care companies also fell sharply.

Peter Donisanu, an investment strategy analyst for the Wells Fargo Investment Institute, said the risk of a damaging trade war is still low because the Trump administration is targeting specific goods that aren't central to China's economy. That could change if it puts tariffs on products like electronics or appliances imported from China.

"If the Trump administration really wanted to hurt China and start a trade war, then they would go after those larger sectors," he said. Still, Donisanu said that after last year's rally, investors are looking for new reasons to feel optimistic about stocks. With trade tensions in focus over the last month, they've had trouble finding any.

The S&P 500 index skidded 68.24 points, or 2.5 percent, to 2,643.69. The Dow Jones industrial average sank 724.42 points, or 2.9 percent, to 23,957.89. The Nasdaq composite gave up 178.61 points, or 2.4 percent, to 7,166.68. The Russell 2000 index of smaller-company stocks lost 35.43 points, or 2.2 percent, to 1,543.87.

Construction equipment maker Caterpillar fell $8.90, or 5.7 percent, to $146.90, for its worst loss since mid-2016. Aerospace company Boeing slid $17.49, or 5.2 percent, to $319.61.

Investors also sold some of the market's biggest recent winners. Among technology companies, Microsoft fell $2.69, or 2.9 percent, to $89.79 and Alphabet, Google's parent company, fell $40.85, or 3.7 percent, to $1,053.15. Online retailer Amazon slid $36.94, or 2.3 percent, to $1,544.92.

Earlier this month the Trump administration ordered tariffs on imported steel and aluminum, and stocks dropped as investors worried about the possibility of tougher restrictions on international trade and smaller profits for corporations.

Their fears eased when the administration said some countries will be exempt from the tariffs. That continued Thursday, as U.S. Trade Representative Robert Lighthizer said the tariffs won't apply to the European Union, Canada, Mexico, Argentina, Brazil and Australia.

Donisanu, of Wells Fargo, said the Trump administration isn't hostile to trade necessarily, but wants to get other countries to revise the terms of America's trade deals.

"This is probably intended to get China to get more serious in discussions around violations of intellectual property rights and addressing those issues," he said.

Bond prices climbed, sending yields lower. The yield on the 10-year Treasury note slipped to 2.82 percent from 2.88 percent. Falling bond yields are bad for banks because they force interest rates on loans lower. Bank of America lost $1.32, or 4.1 percent, to $30.55 and JPMorgan Chase gave up $4.79, or 4.2 percent, to $109.95.

Utility companies and real estate investment trusts moved higher. When bond yields decline, investors often bid up those stocks and others that pay big dividends.

The decline in rates comes a day after the Federal Reserve raised interest rates and said the U.S. economy and the job market continued to improve over the last two months. The Fed expects to raise rates three times this year, although some investors think a fourth increase is possible. The Fed also said it might raise rates three more times next year instead of two.

Overseas markets closed mostly lower. Germany's DAX lost 1.7 percent and the CAC 40 in France shed 1.4 percent. Britain's FTSE 100 dropped 1.2 percent. Hong Kong's Hang Seng dropped 1.1 percent. The Nikkei 225 in Japan index gained 1 percent and the South Korean Kospi added 0.4 percent.

AbbVie plunged after it reported disappointing results from a study of its cancer therapy Rova-T. AbbVie canceled its plans to ask for faster approval of Rova-T as a treatment for small cell lung cancer, but other studies are continuing. AbbVie shed $14.35, or 12.8 percent, to $98.10. Other health care stocks also sank.

Benchmark U.S. crude oil shed 87 cents, or 1.3 percent, to $64.30 a barrel in New York. Brent crude, used to price international oils, fell 56 cents, or 0.8 percent, to $68.91 a barrel in London.

Wholesale gasoline remained at $2.01 a gallon. Heating oil lost 1 cent to $1.99 a gallon. Natural gas lost 3 cents to $2.62 per 1,000 cubic feet.

Gold edged up $5.90 to $1,327.40 an ounce. Silver fell 3 cents to $16.39 an ounce. Copper lost 4 cents to $3.02 a pound.

The dollar fell to 105.61 yen from 106.10 yen. The euro rose to $1.2307 from $1.2332.


----------



## bigdog

*Stocks Tumble on Trade Fears; S&P Has Worst Week in 2 Years*
*Global stocks sink as fears about trade conflict between the U.S. and China send the S&P 500 to its worst week in two years.

The S&P 500 index dropped 55.43 points, or 2.1 percent, to 2,588.26. The index skidded 6 percent this week, its worst since January 2016. The Dow Jones industrial average lost 424.69 points, or 1.8 percent, to 23,533.20. The Nasdaq composite fell 174.01 points, or 2.4 percent, to 6,992.67.*




https://www.usnews.com/news/busines...-roiled-by-rising-fears-of-us-china-trade-war

*Stocks Tumble on Trade Fears; S&P Has Worst Week in 2 Years*
Global stocks sink as fears about trade conflict between the U.S. and China send the S&P 500 to its worst week in two years.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks around the world plunged Friday as investors feared that a trade conflict between the U.S. and China, the biggest economies in the world, would escalate. A second day of big losses pushed U.S. stocks to their worst week in two years.

As of Friday afternoon, China's only response to the tariffs President Donald Trump announced this week was to say it would defend itself. But investors are concerned tensions will keep rising, and that a round of sanctions and retaliation will affect the global economy and corporate profits.

The Chinese government did say it might place tariffs on a $3 billion list of U.S. goods such as pork, apples and steel pipes. That was a response to the tariffs on steel and aluminum imports that Trump announced earlier this month.

The losses were widespread. Technology companies were pummeled. They have made enormous gains over the last year, but since they do so much business outside the U.S., investors see them as particularly vulnerable to the effects of a trade dispute.

Stocks sagged at the start of this month after the tariffs on aluminum and steel were announced, but they quickly recovered as the administration said the tariffs wouldn't be as severe as they first looked. The losses this week were worse, and investors are hoping for hints the sanctions on China are more of a negotiating tactic.

"There could be a possibility of a bounce back if, as this progresses, both sides look like they're negotiating," said Lisa Erickson, chief investment officer at U.S. Bank Wealth Management. "There could be further decline if people get a sense there could be more trade restrictions in place."

The S&P 500 index dropped 55.43 points, or 2.1 percent, to 2,588.26. The index skidded 6 percent this week, its worst since January 2016. The Dow Jones industrial average lost 424.69 points, or 1.8 percent, to 23,533.20. The Nasdaq composite fell 174.01 points, or 2.4 percent, to 6,992.67.

Banks also took steep losses as interest rates decreased. They had climbed earlier this week after the Federal Reserve raised interest rates, but then tumbled after the tariffs were proposed. If the tariffs and counter-tariffs reduce economic growth in the U.S., the Fed is likely to raise rates at a slower pace.

The sanctions Trump proposed Thursday could affect as much as $60 billion in imports and are a response to allegations Beijing steals or forces foreign companies to hand over technology.

Germany's DAX lost 1.8 percent and the French CAC-40 fell 1.4 percent. The FTSE 100 in Britain dipped 0.4 percent. Japan's benchmark Nikkei 225 index plunged 4.5 percent and South Korea's Kospi tumbled 3.2 percent. Hong Kong's Hang Seng lost 2.5 percent.

Big U.S. companies tend to get more of their revenue from foreign customers than small companies do, and that makes them more vulnerable to damage from a trade war. With nearly 1.4 billion people, China is a big market for the largest U.S. businesses.

Not every company breaks out how much of its revenue comes from abroad, but FactSet estimates that 30.5 percent of revenue at big companies in the S&P 500 comes from outside the United States. For the smaller companies in the S&P 600 index, it's just 19.5 percent. Smaller companies are also getting a bigger benefit from the recent cut in corporate tax rates.

"We think a lot of the areas in the market with the greatest potential for earnings improvement this year are small- and mid-cap stocks, things that have the biggest benefit from tax reform and are less subject to trade wars," said Eric Marshall, portfolio manager at Hodges mutual funds.

Sales outside the U.S. are especially important for technology companies. Roughly $1 of every $5 in Apple's sales came from China, Hong Kong and Taiwan in its last year. That doesn't take into account how much of the manufacturing and assembly of Apple products is done in Chinese factories, which could be affected if tariffs start piling up. On Friday chipmakers fared especially badly.

Investors kept buying bonds, sending prices higher and yields lower. The yield on the 10-year Treasury note slipped to 2.81 percent from 2.83 percent.

In another sign investors are nervous, gold and silver prices jumped. Gold climbed $22.50, or 1.7 percent, to $1,349.90 an ounce and silver gained 20 cents, or 1.2 percent, to $16.58 an ounce. The dollar fell to 104.82 yen from 105.61 yen. The euro rose to $1.2367 from $1.2307.

Defense contractors including Raytheon and Lockheed Martin climbed after President Donald Trump signed a new government funding bill that provides increases in military spending. He had tweeted a threat to veto the measure.

Smaller companies have held up better than larger ones during the recent tumult over tariffs, in part because they do more of their business inside the U.S. and have less to fear from international trade disputes. While the tariffs might drive up their costs, they can pass those along to consumers by raising prices. Retaliatory tariffs on U.S. exports won't affect them as much.

The Russell 2000 index of smaller-company stocks sank 33.79 points, or 2.2 percent, to 1,510.08, but it's flat this month while the S&P 500 is down 4.6 percent.

The price of oil climbed $1.58, or 2.5 percent, to $65.88 a barrel in New York. Brent crude, the international standard for oil prices, added $1.54, or 2.2 percent, to $70.45 a barrel in London.

Wholesale gasoline rose 2 cents to $2.04 a gallon. Heating oil added 3 cents to $2.02 a gallon. Natural gas dipped 3 cents to $2.59 per 1,000 cubic feet.

Copper fell 3 cents to $2.99 a pound.

2283


----------



## bigdog

*US Stocks Rally; Dow Surges 669, Clawing Back Lost Ground*





https://www.usnews.com/news/busines...s-fall-for-3rd-day-on-us-china-trade-tensions

*US Stocks Rally; Dow Surges 669, Clawing Back Lost Ground*
News that the U.S. and China are open to negotiate to avert a trade war put investors in a buying mood Monday, giving the market its best day in more than two years and erasing about half of its huge losses last week.

By ALEX VEIGA, AP Business Writer

News that the U.S. and China are open to negotiating to avert a trade war put investors in a buying mood Monday, giving the market its best day in more than two years and erasing about half of its huge losses last week.

Technology companies accounted for much of the broad rally, which powered the Dow Jones industrial average to a gain of nearly 670 points. Microsoft was the biggest gainer in the 30-company Dow and the Standard & Poor's 500 index, climbing nearly 8 percent.

Banks also notched solid gains, benefiting from a pickup in bond yields. Retailers, consumer goods companies and health care stocks were among the big gainers.

The market rebound followed the worst week for U.S. stocks in two years as investors traded last week's jitters for a more optimistic outlook on trade, and an opportunity to buy.

"Certainly nothing's settled," said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. "Investors are still viewing this as a glass half-full market and a constructive economy, so it's not surprising to see them buy on value here, buy on dips to try to rebuild their positions."

The Standard & Poor's 500 index rose 70.29 points, or 2.7 percent, to 2,658.55. The Dow Jones industrial average gained 669.40 points, or 2.8 percent, to 24,202.60. The Dow lost more than 1,400 points last week and is still down slightly for the year.

The Nasdaq added 227.88 points, or 3.3 percent, to 7,220.54. The Russell 2000 index of smaller-company stocks picked up 33.63 points, or 2.2 percent, to 1,543.72.

All told, the Dow, S&P 500 and Nasdaq posted their best one-day gains since August 2015, making up slightly more than half of the market's losses on Thursday and Friday.

Global stock markets fell sharply last week amid fears of a trade war after President Donald Trump announced duties on $60 billion worth of Chinese goods in a dispute over technology policy. On Friday, Beijing released a $3 billion list of U.S. goods targeted for possible retaliation over an earlier U.S. tariff hike on steel and aluminum imports. That prompted fears the spat might depress trade worldwide and set back the global economic recovery.

Those fears eased Monday, after China's government said it is open to negotiating with Washington. That announcement followed a news report indicating that U.S. officials have submitted a list of market-opening requests.

A foreign ministry spokeswoman, Hua Chunying, didn't confirm the report by The Wall Street Journal but said at a regular briefing, "Our door for dialogue and discussion is always open."

China has yet to say how it might respond to Trump's tariff proposals. That didn't appear to dampen investors' resurgent optimism Monday.

"This declaration of tariffs on the president's part was his typical opening salvo into a negotiation process," said Randy Frederick, vice president of trading & derivatives at Charles Schwab. "He's done these things in the past, and now it looks like the markets are telling us, 'Yep, that's what's happening.'"

Meanwhile, a top trade negotiator for South Korea said Monday that the nation has agreed to further open its auto market to the United States as the two countries prepare to amend their six-year-old trade agreement.

Technology companies recouped some of the sector's big losses last week. Microsoft rose $6.60, or 7.6 percent, to $93.78.

Financial stocks surged as bond yields rose. Higher yields are good for banks, because they drive up interest rates on mortgages and other loans, making them more profitable for lenders. Bank of America added $1.27, or 4.4 percent, to $30.44.

The yield on the 10-year Treasury rose to 2.85 percent from 2.81 percent late Friday.

Lowe's climbed 6.6 percent after the home-improvement retailer said Chairman and CEO Robert Niblock is retiring. The stock gained $5.53 to $89.30.

Facebook ended barely higher after erasing an early slide triggered by new questions about collecting phone numbers and text messages from Android devices. The Federal Trade Commission confirmed Monday that it is investigating the social media giant's privacy practices, including whether the company engaged in "unfair acts" that cause "substantial injury" to consumers. The stock eked out a gain of 67 cents, or 0.4 percent, to $160.06.

Traders also had their eye on the latest corporate deal news Monday.

Finish Line vaulted $3.28, or 31.1 percent, to $13.83 after the sporting goods retailer agreed to be bought by JD Sports Fashion PLC.

USG Corp. jumped $6.52, or 19.5 percent, to $40.03 after the building products company rejected an offer worth $42 per share from Knauf.

Benchmark U.S. crude fell 33 cents to settle at $65.55 per barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, shed 33 cents to close at $70.12 in London.

In other energy futures trading, heating oil was little changed at $2.02 a gallon. Wholesale gasoline lost 2 cents to $2.01 a gallon. Natural gas added 3 cents to $2.62 per 1,000 cubic feet.

Gold rose $5.10 to $1,355 an ounce. Silver gained 10 cents to $16.68 an ounce. Copper slipped 2 cents to $2.97 a pound.

The dollar rose to 105.22 yen from 104.82 yen on Friday. The euro strengthened to $1.2455 from $1.2367.

In Europe, Germany's DAX fell 0.8 percent, while France's CAC-40 lost 0.6 percent. Britain's FTSE 100 shed 0.5 percent. In Asia, Tokyo's Nikkei 225 added 0.7 percent, while Hong Kong's Hang Seng rose 0.7 percent. Sydney's S&P-ASX 200 fell 0.5 percent. Seoul's Kospi gained 0.8 percent. India's Sensex rose 0.3 percent.


----------



## bigdog

https://www.usnews.com/news/busines...hares-gain-on-easing-us-china-trade-war-fears

*Tech Stocks Pull Market Sharply Lower, Erasing Early Gains*
A steep, late-afternoon sell-off in technology companies pulled U.S. stocks sharply lower Tuesday, knocking 344 points off the Dow Jones industrial average.

By ALEX VEIGA, AP Business Writer

A steep, late-afternoon sell-off in technology companies pulled U.S. stocks sharply lower Tuesday, knocking 344 points off the Dow Jones industrial average.

The market slide erased modest gains from earlier in the day and much of a powerful rally from the day before.

Banks also weighed on the market as bond yields declined. Investors bid up shares in safe-play stocks like utilities and real estate companies.

The market turbulence came as day after the major stock indexes notched their best day in more than two years following a steep slide last week.

"Just looking at the sector performance indicates to me this is a flight-to-safety kind of trade day," said Sam Stovall, chief investment strategist at CFRA. "Until we get better guidance as to whether this correction is truly over, we will take a very choppy rise possibly to new highs a few months down the road."

The Standard & Poor's 500 index fell 45.93 points, or 1.7 percent, to 2,612.62. The Dow tumbled 344.89 points, or 1.4 percent, to 23,857.71. The 30-company average had been down 493 points. A day earlier, it climbed 669 points.

The tech-heavy Nasdaq slid 211.74 points, or 2.9 percent, to 7,008.81. The Russell 2000 index of smaller-company stocks gave up 30.15 points, or 1.9 percent, to 1,513.57.

The major stock indexes appeared headed for more gains early Tuesday after their strong finish on Monday, but the rally didn't last. Stocks wavered through much of the morning, recovered somewhat by early afternoon, but then veered sharply lower as investors sold shares in Nvidia, Twitter, Facebook and other technology companies.

Nvidia tumbled more than any other stock in the S&P 500 on published reports that the company has temporarily stopped testing its technology for self-driving cars in the wake of a deadly collision last week in Tempe, Arizona, involving an Uber autonomous vehicle and a pedestrian. The chipmaker's shares lost $18.96, or 7.8 percent, to $225.52.

Microsoft, which outgained all the other companies in the S&P 500 Monday, gave up $4.31, or 4.6 percent, to $89.47.

Tesla sank 8.2 percent on news that the National Transportation Safety Board has sent two investigators to look into a fatal crash and fire Friday in California that involved a Tesla electric SUV. The agency said on Twitter that it's not clear whether the Tesla Model X was operating on its semi-autonomous control system called Autopilot at the time. The stock lost $25 to $279.18.

Social media companies also weighed on market. Twitter slumped 12 percent after Citron Research said it is shorting the company, citing Twitter's reliance on licensing its users' data. The remarks come ahead of a Senate hearing on data privacy set for next month. The stock gave up $3.84 to $28.07.

Facebook, whose shares have been hard hit recently amid heightened government scrutiny into the social media giant's collection of private user data, also declined, sliding another $7.84, or 4.9 percent, to $152.22. Facebook has lost 20 percent of its value since hitting a record high February 1.

Bond prices rose, sending the yield on the 10-year Treasury down to 2.78 percent from 2.85 percent late Monday.

The decline in bond yields helped pull banks and other financial stocks lower. When bond yields decline it can bring down interest rates on mortgages and other loans, making them less profitable for banks. Citizens Financial Group lost $1.53, or 3.5 percent, to $41.59.

Lower bond yields helped boost demand for high-yield stocks, such as real estate investment trusts and utilities. PG&E gained $1.07, or 2.5 percent, to $43.94.

Traders welcomed the latest corporate deal news.

U.S.-listed shares of British drugmaker GlaxoSmithKline rose 2.6 percent after the company agreed to buy out its Swiss partner Novartis in their consumer health joint venture for $13 billion in cash. GlaxoSmithKline gained 96 cents to $38.39.

Benchmark U.S. crude declined 30 cents to settle at $65.25 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, slipped a penny to close at $70.11.

In other energy futures trading, heating oil dropped 1 cent to $2.02 a gallon. Wholesale gasoline was little changed at $2.01 a gallon. Natural gas rose 7 cents, or 2.8 percent, to $2.69 per 1,000 cubic feet.

Gold fell $13, or 1 percent, to $1,342 an ounce. Silver dropped 14 cents to $16.54 an ounce. Copper gained 3 cents to $3 a pound.

The dollar rose to 105.54 yen from 105.22 yen on Monday. The euro fell to $1.2402 from $1.2455.

Major indexes in Europe finished higher. Germany's DAX rose 1.6 percent, while France's CAC 40 gained 1 percent. The FTSE 100 index of leading British shares added 1.6 percent.

In Asia, Japan's benchmark Nikkei 225 gained 2.7 percent. Australia's S&P/ASX 200 added 0.7 percent. South Korea's Kospi rose 0.6 percent. Hong Kong's Hang Seng added 0.8 percent.


----------



## bigdog

http://abcnews.go.com/Business/wireStory/us-stock-indexes-higher-early-trading-oil-slides-54068629

*US stock indexes end choppy day of trading slightly lower*



Associated Press March 29, 2018

U.S. stock indexes struggled to find direction Wednesday, ending the choppy day of trading with a loss for the second straight day.

The latest market decline was modest compared with the previous day's steep drop, but both were largely driven by a sell-off in technology stocks. Losses in Amazon, Netflix and other consumer-focused companies also weighed on the market Wednesday. Energy stocks fell in tandem with crude oil prices.

Those losses outweighed gains by drugstore chains, health care companies and other stocks.

Despite a crop of strong company earnings and market-boosting corporate deal news, traders continued to wrestle with the potential implications of negative headlines swirling around several big-name stocks, including Amazon, Facebook and Tesla.

"The news continues to be volatile and the markets are just highly sensitive to it in a way that they weren't sensitive to it last year," said Tom Martin, senior portfolio manager with Globalt Investments. "We've forgotten that this is more like the way things are, that markets do react to news that comes in."

The benchmark S&P 500 index lost 7.62 points, or 0.3 percent, at 2,605. The Dow Jones industrial average fell 9.29 points, or 0.04 percent, to 23,848.42. The Nasdaq composite slid 59.58 points, or 0.8 percent, to 6,949.23. The Russell 2000 index of smaller-company stocks lost 0.54 points, or 0.04 percent, to 1,513.03. More stocks rose than fell on the New York Stock Exchange.

Bond prices were little changed. The yield on the 10-year Treasury held at 2.78 percent.

The major stock indexes wobbled between gains and losses for much of the day as investors weighed the latest developments with some of the market's biggest names.

Facebook, which has taken a beating in recent days over privacy concerns, reflected the broader movement of the market, dipping into the red at times before eking out a small gain. The social media giant said early Wednesday it would give its privacy tools a makeover. The move is a response to criticisms over its data practices and the prospect of tighter European regulations in the coming months. The stock gained 81 cents, or 0.5 percent, to $153.03.

Software company Red Hat was the technology sector's biggest decliner, sliding $8.22, or 5.3 percent, to $146.20.

"Tech has had such a tremendous run-up and has outperformed some of the other sectors," said Erik Davidson, chief investment officer for Wells Fargo Private Bank. "There may be other areas now that are more attractive, and we've seen some strength recently in some of the more defensive-oriented sectors."

Investors also fretted about Amazon after Axios, citing anonymous sources, reported Wednesday that President Donald Trump has wondered aloud if there was a way to "go after" Amazon with antitrust or competition law.

Amazon has long been a target of Trump, who has tweeted in the past that the online retailer didn't pay enough taxes or needed to pay the U.S. post office more for handling shipments. Amazon CEO Jeff Bezos also personally owns The Washington Post, which Trump has labeled "fake news" when unfavorable stories are written about him or his administration. Shares in the e-commerce giant fell $65.63, or 4.4 percent, to $1,431.42.

Netflix also declined, shedding $14.92, or 5 percent, to $285.77.

Tesla tumbled 7.7 percent after Moody's downgraded the electric car maker's credit rating. The move piles more pain on Tesla, whose stock has been pummeled by news that authorities will investigate a fatal crash that involved a Tesla electric SUV equipped with a semi-autonomous control system. The stock lost $21.40 to $257.78.

Investors welcomed strong quarterly report cards from Walgreens Boots Alliance, Lululemon Athletica and RH, the operator of Restoration Hardware.

Walgreens gained 2.5 percent after the largest U.S. drugstore chain reported quarterly earnings and revenue that came in ahead of analysts' forecasts. The stock rose $1.63 to $67.59. Investors also bid up shares in CVS Health, which climbed $2.11, or 3.5 percent, to $62.71.

Lululemon jumped 9.2 percent after the seller of premium yoga wear reported strong results for its fourth quarter and also released an upbeat outlook. The stock gained $7.25 to $85.96. Shares in RH vaulted 22.5 percent after the home furnishings retailer reported earnings that easily beat analysts' forecasts. The stock rose $16.93 to $92.24.

Irish drugmaker Shire Plc jumped 12.2 percent after Japanese rival Takeda said it's considering a takeover offer. Takeda said that buying Shire would enhance its R&D and its reach into the U.S. Shire's U.S.-listed shares climbed $15.66 to $144.53.

Benchmark U.S. crude lost 87 cents, or 1.3 percent, to settle at $64.38 per barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, fell 58 cents, or 0.8 percent, to $69.53 per barrel in London.

The slide in oil prices weighed on energy sector stocks. Occidental Petroleum gave up $2.67, or 4.1 percent, to $63.15.

In other energy futures trading, heating oil dropped 1 cent to $2.01 a gallon. Wholesale gasoline was little changed at $2.01 a gallon. Natural gas dropped 2 cents to $2.70 per 1,000 cubic feet.

The dollar rose to 106.88 yen from 105.54 yen Tuesday. The euro fell to $1.2313 from $1.2402.

Gold fell $17.80, or 1.3 percent, to $1,324.20 an ounce. Silver dropped 29 cents to $16.25 an ounce. Copper was little changed at $3 a pound.

Major indexes in Europe finished mostly higher. Germany's DAX lost 0.3 percent, while France's CAC 40 gained 0.3 percent and Britain's FTSE 100 rose 0.6 percent. Indexes in Asia finished lower. Japan's Nikkei 225 sank 1.3 percent and South Korea's Kospi slid 1.3 percent. Hong Kong's Hang Seng index slumped 2.5 percent. Stocks in Taiwan, Singapore and other Southeast Asian countries also fell.


----------



## bigdog

*U.S. stock markets will be closed for the Good Friday holiday.

U.S. stock markets will be open on Monday April 2
*





https://www.usnews.com/news/busines...s-mixed-as-tech-losses-weigh-in-muted-trading

*Tech Gains Help US Stocks End a Rocky Quarter With a Bang*
Technology companies powered U.S. stocks to solid gains Thursday, snapping the market's two-day losing streak.

By ALEX VEIGA, AP Business Writer

Technology companies powered U.S. stocks to solid gains Thursday, snapping the market's two-day losing streak.

Banks, consumer-focused companies and industrial stocks also helped lift the market. Even so, the broad gains, which came on the last day of trading ahead of the Easter holiday weekend, weren't enough to make up for the stock market's first quarterly loss since 2015.

After years of slow-and-steady growth and a roaring start to 2018, the market plunged in early February, marking its first 10 percent drop in two years. In the weeks since, the market has been more volatile and trading has frequently turned choppy.

"The equity market is ending the week and the quarter on a positive note, and that's following a quarter that's been volatile and uniformly lackluster," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. "We still look for positive trends as we now move into the second quarter, but we think the pace at which equities move will still be muted."

The S&P 500 index rose 35.87 points, or 1.4 percent, to 2,640.87. The Dow Jones industrial average gained 254.69 points, or 1.1 percent, to 24,103.11. The blue chip average was briefly up 465 points. The Nasdaq added 114.22 points, or 1.6 percent, to 7,063.44. The Russell 2000 index of smaller-company stocks picked up 16.40 points, or 1.1 percent, to 1,529.43.

The Dow is down 2.5 percent for the year, while the S&P 500 is off 1.2 percent. The Nasdaq is holding to a 2.3 percent gain.

Sandven said the market's first-quarter performance has tempered expectations for the rest of the year after the market's strong start in January.

"Volatility has ramped up, inflationary pressures are more prevalent, interest rates are on the cusp of change, so that presents a higher level of uncertainty and higher investor angst," Sandven said.

The major indexes were headed higher from the start of trading Thursday as investors sized up several company earnings reports and new government data showing that spending by U.S. consumers rose 0.2 percent in February, while their incomes increased 4.4 percent. The healthy income gains could spur more spending in the coming months.

Technology stocks, which were big decliners earlier in the week, powered much of the market's climb Thursday.

Facebook was among the gainers, its shares adding 4.4 percent. The social media giant, which has taken a beating in recent days over privacy concerns, rose $6.76 percent, to $159.79.

Even with the roller-coaster ride that technology stocks have been on lately, the sector is up 3.2 percent this year, while most other sectors are in the red.

Thursday's run-up in technology stocks signaled that investors believe the sector was oversold in recent weeks, said Sandven, adding that perhaps some it can be explained by some fund managers padding portfolios with stocks to elevate their quarter-end results, what Wall Street calls "window-dressing."

Shares in several companies that reported improved quarterly earnings or outlooks got a boost.

PVH, which owns Calvin Klein and Tommy Hilfiger, climbed $7.41, or 5.1 percent, to $151.43, while beverage maker Constellation Brands rose $7.43, or 3.4 percent, to $222.92.

Solid results and a better-than-expected outlook also gave Movado Group shares a lift. The watchmaker's stock jumped $5.20, or 15.7 percent, to $38.40.

Some companies had a rough day, even after delivering strong quarterly results.

Gamestop slumped 10.8 percent after the retailer issued a disappointing full-year revenue and earnings outlook, which overshadowed fourth-quarter results that beat Wall Street's expectations. The stock slid $1.53 to $12.62.

The fallout from the heightened scrutiny on how social media portals use consumers' personal data weighed on Acxiom shares. The marketing data firm's stock tumbled 19 percent after it disclosed that Facebook would cease using third-party data providers like Acxiom over the next several months. Acxiom said it doesn't expect the move to affect its fiscal 2018 guidance, but noted it expects its total revenue and profitability to be negatively affected by as much as $25 million. Acxiom declined $5.34 to $22.71.

Bond prices rose. The yield on the 10-year Treasury fell to 2.74 percent from 2.78 percent late Wednesday.

Benchmark U.S. crude rose 56 cents to $64.94 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, added 74 cents to $70.27 per barrel in London.

In other energy futures trading, heating oil gained 1 cent to $2.03 a gallon. Wholesale gasoline rose a penny to $2.02 a gallon. Natural gas added 4 cents to $2.73 per 1,000 cubic feet.

The dollar fell to 106.50 yen from 106.88 yen on Wednesday. The euro weakened to $1.2306 from $1.2313.

Gold fell $1.40 to $1,322.80 an ounce. Silver rose 2 cents to $16.27 an ounce. Copper added 2 cents to $3.03 a pound.

Germany's DAX added 1.3 percent and France's CAC 40 gained 0.7 percent. Britain's FTSE 100 rose 0.2 percent. In Asia, Japan's Nikkei 225 rose 0.6 percent. South Korea's Kospi added 0.7 percent and Hong Kong's Hang Seng index rose 0.2 percent.

U.S. stock markets will be closed for the Good Friday holiday.

3021


----------



## bigdog

*U.S., Asian stock and markets were open on Monday April 2

Europe, Australia and New Zealand  markets were closed Monday April 2





*
https://apnews.com/099ca68399014f6a...-worsening-tensions-with-China-sink-US-stocks

*Tech woes, worsening tensions with China sink US stocks*

*By MARLEY JAY*
NEW YORK (AP) — Stocks fell sharply on Monday as investors responded to rising trade tensions between the United States and China and mounting scrutiny of big technology companies from consumers and politicians.

China imposed $3 billion of tariffs on U.S. farm goods and other exports, bringing the world’s two largest economies closer to a full-on trade conflict.

Amazon sank following weekend broadsides from President Donald Trump on Twitter, while Facebook tumbled as a widening privacy scandal continued to weigh on the company’s stock.

The looming threat of tighter regulation of the tech sector in Europe and the U.S. prompted investors to pull money out of high-flying companies, such as Netflix, Microsoft and Alphabet, Google’s parent company.

Among other recent winners, Intel dove 6.1 percent following a report in Bloomberg News that Apple plans to start using its own chips in Mac computers.

The Dow Jones industrial average fell as much as 758 points, although major indexes regained some of their losses later in the afternoon. The Dow lost 458.92 points, or 1.9 percent, to 23,644.19. The S&P 500 index gave up 58.99 points, or 2.2 percent, to 2,581.88.

The Nasdaq composite slumped 193.33 points, or 2.7 percent, to 6,870.12. The Russell 2000 index of smaller-company stocks fell 36.90 points, or 2.4 percent, to 1,492.53.

Kate Warne, an investment strategist for Edward Jones, said the step by China is small but significant.

“The fact that a country has actually raised tariffs in retaliation is an important step in the wrong direction,” she said. “The tariffs imposed by China today lead to greater worries that we will see escalating tariffs and the possibility of a much bigger impact than investors were anticipating last week. And that could be true for Mexico as well as for China.”

Food maker Tyson dropped 6.2 percent after China raised import duties on a $3 billion list of U.S. goods in response to the tariffs on imported steel and aluminum that President Trump ordered last month.

Amazon fell another 5.2 percent. The online retailer has slumped with the market recently, although it’s still up about 17 percent in 2018. Trump has repeatedly criticized Amazon over issues including taxes and Amazon’s shipping deals with the U.S. Postal Service.

Jack Ablin, chief investment officer of Cresset Wealth Advisors, said Amazon is just the latest company to falter after it drew scrutiny from the government, as Facebook and Alphabet have slumped recently on data privacy concerns.

“It seems like the long arm of the government is interfering with investors’ expectations,” he said. “Investors are pricing in an escalating trade war and regulation of tech companies.”

Microsoft dropped 3 percent and Alphabet, Google’s parent company, shed 2.4 percent.

After a month of public negotiations between the U.S. and several other countries, Monday marked the first time another country has placed tariffs on U.S. goods in response to the Trump administration’s recent trade sanctions.

The price of gold climbed 1.2 percent to $1,343.60 an ounce and silver jumped 2 percent to $16.60 an ounce as some investors took money out of stocks and looked for safer investments.

Health insurer Humana was one of the market’s few winners following more reports Walmart could buy the company or create a new partnership with it. Humana is a major provider of Medicare Advantage coverage for people 65 and older. Humana gained 4.4 percent while Walmart slid 3.8 percent.

Bond prices finished little changed. The yield on the 10-year Treasury stayed at 2.74 percent after a sharp decline last week.

Energy companies skidded as benchmark U.S. crude lost $1.93, or 3 percent, to $63.01 a barrel in New York. Brent crude, used to price international oils, slid $1.70, or 2.5 percent, to $67.64 a barrel in London.

Wholesale gasoline dropped 5 cents to $1.97 a gallon. Heating oil fell 4 cents to $1.98 a gallon. Natural gas slid 5 cents to $2.68 per 1,000 cubic feet.

Copper rose 2 cent to $3.05 a pound.

The dollar declined to 105.85 yen from 106.50 yen. The euro edged up to $1.23 from $1.2306.

Trading in France, Germany and Britain was closed for Easter. Japan’s benchmark Nikkei 225 lost 0.3 percent and South Korea’s Kospi fell almost 0.1 percent. The Hang Seng in Hong Kong was closed as well.


----------



## bigdog

https://finance.yahoo.com/m/2997c0bf-e356-3d53-8f13-172e85064fb8/ss_stocks-jump-late,-clawing.html

*Stocks jump late, clawing back ground lost on trade fears*
*By MARLEY JAY*

NEW YORK (AP) — Banks, retailers, health care and energy companies climbed Tuesday as U.S. stocks regained much of what they lost in a steep drop a day earlier. Several big technology companies including Apple also recovered.

Banks rose as interest rates turned higher, and automakers Ford and General Motors also jumped after saying their sales rose in March after a rough start to the year. Retailers like Foot Locker and consumer-focused companies including Netflix also climbed.

The market got off to a shaky start, wobbled for much of the day, then surged in the last hour of trading. The S&P 500 index rose 32.57 points, or 1.3 percent, to 2,614.45. It dropped 2.2 percent a day earlier.

The Dow Jones industrial average rose 389.17 points, or 1.6 percent, to 24,033.36. The Nasdaq composite climbed 71.16 points, or 1 percent, to 6,941.28. The Russell 2000 index of smaller-company stocks added 19.62 points, or 1.3 percent, to 1,512.15.

Craig Holke, investment strategy analyst for the Wells Fargo Investment Institute, said the market will continue to bounce around as investors worry about changes in trade that could slow down the global economy and company profits. He noted that the U.S. hasn't entered a full-blown trade war since 1930, and trade relationships were much different back then.

"There was a lot less interconnectedness," he said. "Every country was actually more insulated, produced more of their own goods at that time. It's really hard to get around that nowadays."

Among individual stocks, CBS added 4.2 percent to $52.86 on reports it plans to make an offer to buy corporate sibling Viacom. The offer is reported to be for less than Viacom's current market value, and Viacom stock fell 3.7 percent to $29.42.

Music streaming company Spotify made its debut on the New York Stock Exchange Tuesday. Instead of raising money through an initial public offering underwritten by an investment bank, Spotify Technologies took a more unusual route called a direct listing that lets investors sell the stock directly. It started trading at $165.90 a share, well above the previous high share price of $132.50 it reached in private deals. The stock wound up closing down 10.2 percent at $149.01.

It's been a rocky month for stocks as investors worried about changes to the North American Free Trade Agreement and tensions between the U.S. and China, the world's biggest economies. Stocks plunged one day ago after China placed tariffs on a small number of exports, and investors fear that its response to a broader package of trade sanctions will be harsher. But Holke, of Wells Fargo, said it's likely the countries will find ways to resolve their differences on issues including complaints that Beijing steals or pressures foreign companies to hand over technology.

"If they can get China to remove this process of having this technology transfer in place for companies that do business in China, the tariffs might not even go into effect," he said.

The Nasdaq, which set its most recent record on March 12, is down 7.5 percent in just three weeks. Some of the market's woes stem from the fact that several of the largest technology companies have come under fire at the same time. Facebook is still deep in the fallout of an ever-widening privacy scandal, and if the government decides to regulate online consumer data in new ways, that also might affect Alphabet, Google's parent company, as well as smaller social media companies like Twitter and Snap.

Meanwhile Amazon, which isn't officially classified as a technology company, has come under fire from President Donald Trump, who has griped about the company's tax payments, deals with the U.S. Postal Service, and other issues. His statements have often diverged from the facts and he's also blamed Amazon for critical news coverage of his administration by The Washington Post, which is owned by Amazon founder and CEO Jeff Bezos but isn't part of Amazon.

Amazon spiked 1.5 percent to $1,392.05 after Bloomberg News reported that the White House isn't talking about taking any steps against the company. Still, Piper Jaffray analyst Michael Olson said Trump is likely to continue periodically bashing the company for as long as he's in office, but steps like sales tax collection changes won't affect Amazon much, and the Post Office probably won't raise shipping rates much either.

Returning from the long Easter holiday weekend, Germany's DAX fell 0.8 percent while London's FTSE 100 declined 0.4 percent and France's CAC 40 dipped 0.3 percent. Earlier in Asia, Tokyo's Nikkei 225 shed 0.4 percent and Seoul's Kospi ended down 0.1 percent. Hong Kong's Hang Seng bucked the trend, ending up 0.2 percent.

Bond prices declined. The yield on the 10-year Treasury note rose to 2.78 percent from 2.73 percent.

Gold slid 0.7 percent to $1,337.30 an ounce. Silver fell 1.7 percent to $16.39 an ounce. Coper rose 1 cent to $3.06 a pound.

The dollar rose to 106.61 yen from 105.85 yen. The euro fell to $1.2267 from $1.2300.

A barrel of U.S. crude gained 50 cents to $63.51 in New York while Brent crude, used to price international oils, rose 48 cents to $68.12 a barrel in London.

Wholesale gasoline added 1 cent to $1.97 a gallon and heating oil rose 1 cent to $2 a gallon. Natural gas picked up 1 cent to $2.70 per 1,000 cubic feet.


----------



## bigdog

https://www.usnews.com/news/busines...xed-as-markets-mull-us-tariffs-list-for-china

*Stocks Surge as Market Escapes Early Plunge on Trade Fears*
Investors feared rising trade tensions between the US and China Wednesday, but stocks finished with strong gains after an early plunge as Wall Street hoped the sides will settle their differences.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — After an early jolt, stocks rallied and finished higher Wednesday as investors bet that back-and-forth tariff threats between the U.S. and China won't blossom into a bigger dispute that damages global commerce.

The Dow Jones industrial average plunged 501 points after the opening bell but made it all back, and more. Household goods makers, retailers and homebuilders led the way while technology companies reversed some early losses. But two major targets of China's possible tariffs, aerospace company Boeing and farm equipment maker Deere, finished lower.

The early declines followed an announcement by the Chinese government that it plans to impose tariffs of 25 percent on a list of U.S. goods worth $50 billion, including soybeans and aircraft. The U.S. plans to place tariffs on a similar amount of Chinese goods, including industrial robots and telecom gear, subject to potential tariffs to protest Beijing's alleged theft of U.S. technology.

But investors relaxed as both sides emphasized a willingness to talk. President Donald Trump's top economic adviser, Larry Kudlow, suggested the U.S. tariffs won't be implemented if China lowers barriers to trade. Others noted the two countries have too much to lose from a trade war.

"The most likely outcome is smoke, but no fire," said Bill Adams, senior international economist at PNC Financial. "The amount that both countries have invested in bilateral trade cooperation and economic cooperation is so significant that the costs of going back would be very painful, and more than either country would want to bear."

U.S. trade policy has loomed over the markets since early March. Over the last five weeks stocks have plunged numerous times as investors reacted to tariff developments with shock and concern that an increase in protectionism will hurt international trade and company profits. But often, investors have caught their breath and decided that a full-blown trade war is unlikely, resulting in sharp recoveries.

On Wednesday, both of those things appeared to happen in the same day.

The Dow Jones industrial average advanced 230.94 points, or 1 percent, to 24,264.30, after a swing of more than 700 points. The S&P 500 index climbed 30.24 points, or 1.2 percent, to 2,644.69. The Nasdaq composite rose 100.83 points, or 1.5 percent, to 7,042.11. The Russell 2000 index of smaller-company stocks gained 19.51 points, or 1.3 percent, to 1,531.66.

Boeing, which delivered one-fourth of all its planes to China last year, fell as much as 5.7 percent early on and finished with a loss of $3.38, or 1 percent, at $327.44.

Adams, of PNC Financial, said the tariffs would be especially painful for companies in agriculture: machinery makers in the U.S. would pay more for imported components, and they wouldn't sell as much food in China because their products would be more expensive. He said that will stir up political pressure against the trade sanctions.

Farm equipment maker Deere lost $4.47, or 2.9 percent, to $148.57, after an early drop of 6.2 percent. Futures for Soybeans, a big U.S. export to China, fell 2.2 percent on the CBOT.

However Adams said that there was good news for food producers, as the Chinese government proposed duties on imported beef, but not pork or chicken. Hormel jumped $1.65, or 4.8 percent, to $35.87.

European stocks fell. Germany's DAX lost 0.4 percent while the CAC 40 in France dipped 0.2 percent. The FTSE 100 in Britain gained 0.1 percent.

Most Asian indexes closed before China announced its tariff plan, but Hong Kong's Hang Seng was still trading and slumped 2.2 percent.

The biggest worry for investors is that an escalating trade war will derail a global economy that is largely growing in unison. The global economy is expected to grow 3.9 percent this year, which would be its strongest showing in seven years, according to the International Monetary Fund.

Elsewhere, homebuilders rose following strong quarterly report from Lennar, which gained $5.73, or 10 percent, to $62.82.

Tech stocks have added to the recent volatility, mostly due to controversies surrounding technology companies like Facebook. On Wednesday, Facebook closed with a small decline, but other big tech names such as Apple and Microsoft closed higher.

After a big early loss, U.S. crude dipped 14 cents to $63.37 a barrel in New York while Brent crude, used to price international oils, fell 10 cents to $68.02 a barrel in London.

Wholesale gasoline stayed at $1.98 a gallon. Heating oil lost 2 cents to $1.98 a gallon. Natural gas rose 2 cents to $2.72 per 1,000 cubic feet.

Bond prices turned lower. The yield on the 10-year Treasury note rose to 2.80 percent from 2.77 percent. Gold prices jumped as much as 0.9 percent early on, but finished up just $2.90, or 0.2 percent, at $1,340.20 an ounce. Silver fell 14 cents to $16.25 an ounce and Copper lost 5 cents to $3.01 a pound.

After an early loss, the dollar rose to 106.74 yen from 106.61 yen. The euro rose to $1.2280 from $1.2267.


----------



## bigdog

http://abcnews.go.com/Business/wireStory/us-stocks-climbing-trade-war-fears-recede-54255517

*Stocks jump as trade war fears ease; Amazon, Facebook rally*
By marley jay, ap markets writer

Global stock indexes kept climbing Thursday as investors around the world grew more optimistic that a trade dispute between the U.S. and China, the two largest economies in the world, will resolve without too much damage. In the U.S., banks and retailers made some of the biggest gains.

The rally started late Wednesday as American and Chinese officials reassured investors that they are willing to talk and aren't rushing into a trade war that could hurt global economic growth and company profits. That helped stocks reverse the big losses they had taken hours earlier. On Thursday, banks rose along with interest rates, retailers and consumer-focused companies kept rising, and industrial and technology companies turned higher.

Worries and fears about international trade and new troubles for Facebook and Amazon have blotted out almost everything else over the last two weeks, and the market has been on a wild ride with a lot of unusually big moves. Between March 22 and Wednesday, the S&P 500 rose at least 1 percent or fell at least 1 percent in eight out of nine trading days.

"Very often the reaction in the market is 'sell first and ask questions later,'" said Quincy Krosby, chief market strategist at Prudential Financial.

The S&P 500 index climbed 18.15 points, or 0.7 percent, to 2,662.84. The Dow Jones industrial average rose 240.92 points, or 1 percent, to 24,505.22. The Nasdaq composite added 34.44 points, or 0.5 percent, to 7,076.55. The Russell 2000 index of smaller-company stocks rose 11.26 points, or 0.7 percent, to 1,542.93.

The German DAX jumped 2.9 percent and the CAC 40 in France rose 2.6 percent. Britain's FTSE 100 surged 2.4 percent. Japan's Nikkei 225 gained 1.5 percent and South Korea's Kospi rallied 1.2 percent. Markets in Hong Kong were closed for a holiday.

Amazon led retail companies higher with a gain of $41.18, or 2.9 percent, to $1,451.75. Netflix added $5.03, or 1.7 percent, to $293.97 and Nike picked up $1.17, or 1.7 percent, to $69.59.

Facebook rose $4.24, or 2.7 percent, to $159.34 after CEO Mark Zuckerberg told reporters that Facebook hasn't lost many users in the wake of a major privacy controversy. The company also plans to give users more information about the data it gathers and restrict the user data that outsiders can access.

At the same time, Facebook revealed that as many as 87 million users may have had their data exposed in the Cambridge Analytica scandal, more than the 50 million disclosed in published reports. Its stock is down 14 percent since the scandal became public almost three weeks ago.

Stocks tumbled Wednesday morning after the U.S. and China each announced tariffs on about $50 billion in goods made by the other country. The tariffs could take a toll on industrial companies by making parts more expensive and reducing sales. But on Thursday, Deere picked up $2.77, or 1.9 percent, to $151.34 and wiped out most of Wednesday's loss. Aerospace company Boeing rose $8.96, or 2.7 percent, to $336.40.

Construction equipment maker Caterpillar, which made a small gain Wednesday, rose another $2.95, or 2 percent, to $148.13.

Trade tensions have been the market's main focus over the last few weeks, but Krosby, of Prudential, said that could change next week because companies will start to report their first-quarter results. Investors are expecting another quarter of strong profit growth, and the reports will give investors more insight into the effects of the recent corporate tax cuts on the economy as well as company profits and spending. They will also learn more about how the proposed tariffs might affect different industries.

"What's going to be helpful is ... to hear from different sectors and watch what the CEOs and CFOs tell us about how they are factoring in the tax cuts, what they plan on doing with the extra cash on their balance sheets, and also what do they say about the potential tariffs," she said.

As investors grew less worried about the trade impasse, they sold government bonds. The yield on the 10-year Treasury note rose to 2.83 percent from 2.81 percent. That sent interest rates higher, which helped banks.

Companies that pay hefty dividends, such as utilities and real estate investment trusts, lagged the rest of the market. Their large dividend payments make those stocks similar to bonds, and investors find the stocks more appealing when bond yields are low.

Benchmark U.S. crude added 17 cents to $63.54 a barrel in New York. Brent crude, used to price international oils, rose 31 cents to $68.33 per barrel in London.

Wholesale gasoline and heating oil both remained at $1.98 a gallon. Natural gas fell 4 cents to $2.68 per 1,000 cubic feet.

Gold fell $11.70 to $1,328.50 an ounce. Silver gained 10 cents to $16.36 an ounce. Copper jumped 6 cents to $3.07 a pound.

The dollar rose to 107.12 yen from 106.74 yen The euro fell to $1.2256 from $1.2280.


----------



## bigdog

https://www.usnews.com/news/busines...gher-as-markets-shrug-off-latest-trump-threat

*Stocks Dive as US Proposes More China Tariffs; Dow Falls 572*
US stocks take sharp losses after President Donald Trump ordered the government to consider a bigger set of tariffs on goods imported from China, which could increase trade tensions between the two countries.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks ended the week the way they began it: tumbling as investors worry that tariffs and harsh words between the U.S. and China will touch off a trade war that derails the global economy. The latest drop came as the White House proposed tripling the amount of goods from China that will be subject to tariffs.

The stock market changed direction again and again this week as investors tried to get a sense of whether the trade dispute between the world's two largest economies will escalate. On Friday technology companies, banks, industrial and health care stocks sank. The market didn't get any help from a March jobs report that was weaker than expected.

With administration officials sounding conciliatory one day and hostile the next and the president quick to fire off yet another tweet, investors simply don't know what the U.S. wants to achieve in its talks with China, said Katie Nixon, chief investment officer for Northern Trust Wealth Management.

"The process itself seems to be quite chaotic," she said. "We're not quite sure what the long-term strategy is."

The Dow Jones industrial average dropped 572.46 points, or 2.3 percent, to 23,932.76. It's down 10 percent from its record high in late January.

The S&P 500, which many index funds track, lost 58.37 points, or 2.2 percent, to 2,604.47. The Nasdaq composite slid 161.44 points, or 2.3 percent, to 6,915.11. The Russell 2000 index of smaller-company stocks dipped 29.63 points, or 1.9 percent, to 1,513.30.

President Donald Trump's administration spent the past few days reassuring investors that it's not rushing into a trade war, and China's government has done the same. But late Thursday, Trump ordered the U.S. Trade Representative to consider tariffs on another $100 billion in Chinese imports. China said it would "counterattack with great strength" if that happens.

Each nation proposed tariffs $50 billion in imports from the other at the start of this week. Stocks plunged on Monday, but they rallied over the next few days as officials from both countries said they were open to talks and that the tariffs might never go into effect.

The Dow average, which contains numerous multinational companies including industrial powerhouses Boeing and Caterpillar, swung dramatically this week, with almost 1,300 points separating its lowest point Monday afternoon from its high late Thursday. It fell 0.7 percent for the week.

On Friday Caterpillar, a construction equipment maker, slid $5.14, or 3.5 percent, to $142.99 and Boeing, an aerospace company, lost $10.28, or 3.1 percent, to $326.12. Among technology companies, Apple gave up $4.42, or 2.6 percent, to $168.378 and PayPal shed $3.09, or 4 percent, to $73.86.

Jason Pride, chief investment officer for Glenmede's private client business, said Trump's latest order caught investors off guard.

"It shows a willingness to go to the mat on this and fight it out," he said. Still, Pride said all of the proposed tariffs add up to a pretty small fraction of trade between the U.S. and China, and overall, they wouldn't affect the nation's economy that much if they do go into effect.

Nixon, of Northern Trust, said businesses also support the idea of making changes in America's trade relationship with China. Even though investors are optimistic about the state of the global economy and company profits continue to grow, Nixon said the administration is creating the thing investors hate the most: uncertainty.

The government reported that U.S. employers added 103,000 jobs in March, a weaker pace than the last few months. The Labor Department also said fewer jobs were added in January and February that it initially estimated. The unemployment rate remained low and the job market looks fundamentally healthy, but it's possible some employers are struggling to find workers.

Benchmark U.S. crude dropped $1.48, or 2.3 percent, to $62.06 a barrel in New York while Brent crude, used to price international oils, lost $1.22, or 1.8 percent, to $67.11 per barrel in London. Oil prices fell almost 5 percent this week as investors wondered if an increase in trade tensions will reduce demand for oil by slowing down the global economy.

Bond prices rose, sending yields lower. The yield on the 10-year Treasury fell to 2.77 percent from 2.83 percent. The lower yields mean banks can't make as much money from lending, and that sent bank stocks lower.

In other energy trading, wholesale gasoline dipped 3 cents to $1.95 a gallon. Heating oil lost 2 cents to $1.96 a gallon. Natural gas rose 3 cents to $2.70 per 1,000 cubic feet.

Gold rose $7.60 to $1,336.10 an ounce. Silver edged up 1 cent to $16.36 an ounce. Copper fell 2 cents to $3.06 a pound.

The dollar fell to 106.85 yen from 107.12 yen. The euro rose to $1.2285 from $1.2256.

Germany's DAX was down 0.5 percent while France's CAC-40 fell 0.3 percent lower. The FTSE 100 in Britain lost 0.2 percent.

Japan's benchmark Nikkei 225 index dipped 0.4 percent while South Korea's Kospi slipped 0.3 percent but Hong Kong's Hang Seng rose 1.1 percent after trading resumed following a holiday as investors caught up with the previous day's global gains.

3374


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## bigdog

https://www.usnews.com/news/busines...ise-amid-uncertainty-over-us-china-trade-spat

*Stocks Rise, but Biggest Gains Fade as Market Stays Volatile*
US stock indexes gave up most of a big gain in the afternoon but still finished slightly higher as technology companies and banks rallied.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stock indexes finished a bit higher Monday as investors let go of some of their fears about a possible trade war between the U.S. and China. But far bigger gains slipped away as the market suffered a steep afternoon decline.

Stocks climbed higher and higher in the first hours of trading, and at about 2 p.m. the Dow Jones industrial average was up 440 points. That put the market on track to make up almost all of the ground it lost during a big sell-off on Friday. But stocks have repeatedly changed course as investors tried to guess the outcome of the U.S.-China trade dispute, and they did it again Monday afternoon.

Health care companies finished with strong gains, and technology companies like Microsoft and Apple regained some of their recent losses. Banks rose along with interest rates. But industrial and retail companies finished with losses, and smaller companies fared worse than larger ones did.

"Every day the market wakes up and it struggles with whether it should pay attention to noise or pay attention to fundamentals," said Marina Severinovsky, an investment strategist at Schroders. She said stocks have done well recently when investors can get their minds off the trade disputes because the global economy and the U.S. economy are still growing.

When companies start to report their first-quarter results later this week, she added, the results are likely to be good.

The S&P 500 index gained 8.69 points, or 0.3 percent, to 2,613.16. The S&P 500 fell 1.4 percent last week, with large losses Monday and Friday and strong gains in between.

The Dow Jones industrial average rose 46.34 points, or 0.2 percent, to 23,979.10. The Nasdaq composite jumped 35.23 points, or 0.5 percent, to 6,950.34. The Russell 2000 index of smaller company stocks added 1.17 points, or 0.1 percent, to 1,514.46.

The Russell index is composed of more U.S.-focused companies that are somewhat less vulnerable to the effects of tariffs, so its moves in response to the recent trade tensions haven't been as dramatic.

Most of the stocks on the New York Stock Exchange finished lower Monday.

Investors don't know how the trade dispute might evolve and what it might mean for the global economy. While President Donald Trump continued to bash America's trade deals on Twitter Monday, he said the U.S. and China could settle their dispute. But things looked worse at the end of last week, when Trump threatened to impose tariffs on an additional $100 billion in Chinese goods. China has pledged to "counterattack with great strength" if Trump decides to follow through on that threat. The two nations had already proposed $50 billion in tariffs on imports, but none of that has taken effect yet.

"We don't have a trade war," said Severinovsky, of Schroders. "We have potential suggestions of things that could happen.

Swiss drugmaker Novartis agreed to buy AveXis for $8.7 billion, or $218 a share, as it aims to become a leader in the treatment of neurodegenerative diseases. AveXis is studying a treatment for a disorder called spinal muscular atrophy Type 1, which Novartis called the top genetic cause of death in infants.

AveXis climbed $94.55, or 81.6 percent, to $210.46 and Novartis added 87 cents, or 1.1 percent, to $81.07.

Agribusiness company Monsanto jumped $7.29, or 6.2 percent, to $125.15 after The Wall Street Journal reported that the Department of Justice will approve its sale to German conglomerate Bayer.

This week will be a big one for Facebook as it tries to get its data privacy scandal under control. Facebook CEO Mark Zuckerberg is meeting with legislators and will testify before Congress later this week as the company has embarked on a high profile effort to convince users, advertisers and investors that it is serious about fixing problems that led to the Cambridge Analytica scandal and about user privacy as a whole.

Facebook picked up 73 cents to $157.93. Its stock is down almost 15 percent since March 16.

Facebook's woes have affected other social media companies and big technology companies, including Google's parent company, Alphabet. Severinovsky said investors are considering the possibility that the companies will be regulated in ways they never have been, which will create new costs and affect their earnings. But she thinks they will continue to do well.

"These companies are going to continue to be very profitable," she said.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.78 percent from 2.77 percent late Friday.

Benchmark U.S. crude jumped $1.36, or 2.2 percent, to $63.42 a barrel in New York. Brent crude, used to price international oils, added $1.54, or 2.3 percent, to $68.65 a barrel London.

Wholesale gasoline rose 3 cents to $1.98 a gallon. Heating oil rose 4 cents to $2 a gallon. Natural gas lost 1 cent to $2.69 per 1,000 cubic feet.

Gold rose $4 to $1,340.10 an ounce. Silver gained 17 cents to $16.53 an ounce. Copper picked up 2 cents to $3.08 a pound.

The dollar fell to 106.78 yen from 106.85 yen. The euro rose to $1.2322 from $1.2285.

Germany's DAX rose 0.2 percent and the CAC 40 in France edged up 0.1 percent. The British FTSE 100 added 0.2 percent.

Asian stocks fared better. Tokyo's Nikkei 225 advanced 0.5 percent and Hong Kong's Hang Seng climbed 1.3 percent. Seoul's Kospi added 0.6 percent.


----------



## bigdog

https://www.usnews.com/news/busines...st-slim-gains-as-investors-eye-trade-tensions

*Stock Indexes Rally as China's President Eases Trade Fears*
US stocks jump after Chinese President Xi Jinping makes conciliatory remarks on trade, easing the market's fears about US-China trade tensions.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks jumped Tuesday after Chinese President Xi Jinping said Beijing would reduce tariffs on imported cars and improve intellectual property protection, steps that could ease trade tensions. Facebook climbed as CEO Mark Zuckerberg testified before the Senate about the company's privacy scandal.

Xi's proposals could help the U.S. and China resolve their differences and avert a trade dispute that slows down global commerce. The dialing back of tensions helped send the price of crude oil up 3.3 percent.

"The market's increasing expectation is that the two sides will sit down now," said Paul Christopher, head of global market strategy for Wells Fargo Investment Institute. "There's still a lot at stake because you have a global supply chain that could be interrupted because of tariffs."

Facebook, Twitter and Snap rallied as Senators questioned Mark Zuckerberg about the Cambridge Analytica privacy scandal that has engulfed the company over the last four weeks. Technology companies have stumbled as investors wondered if the government will implement tighter regulations on technology companies, and those worries eased Tuesday. Zuckerberg will testify before the House of Representatives Wednesday.

The S&P 500 index surged 43.71 points, or 1.7 percent, to 2,656.87. The Dow gained 428.90 points, or 1.8 percent, to 24,408. Shortly before noon it rose as much as 532 points. The Nasdaq composite added 143.96 points, or 2.1 percent, to 7,094.30. The Russell 2000 index of smaller-company stocks advanced 28.97 points, or 1.9 percent, to 1,543.43.

Indexes overseas also climbed. Germany's DAX jumped 1.1 percent and the British FTSE 100 gained 1 percent. The French CAC 40 gained 0.8 percent. Japan's benchmark Nikkei 225 gained 0.5 percent and South Korea's Kospi added 0.3 percent while Hong Kong's Hang Seng added 1.7 percent.

Speaking at a business conference, Xi promised changes in some areas that the U.S. has identified as priorities. He didn't address other thorny topics including requirements for foreign companies to give technology to potential local competitors.

General Motors rose 3.3 percent to $39.07 and Tesla climbed 5.2 percent to $304.70.

Technology companies have made some of the biggest swings on the market during the trade spat. If trade conditions get worse, they might face higher costs as well as lower sales. They've also done better than most other parts of the market lately, and companies like Apple, Microsoft and Google's parent Alphabet have made up an outsize portion of the market's gains.

Apple jumped 1.9 percent to $173.25 and Microsoft rose 2.3 percent to $92.88.

So far the U.S. has proposed tariffs on at least $150 billion worth of products made in China, and China has said it could put tariffs on $50 billion in goods imported from the U.S. Christopher, of Wells Fargo, said the U.S. still has a lot of leverage because it has mostly targeted products that are only partly assembled in China.

"The U.S., in the next round of tariffs, could start targeting goods that the Chinese do mostly produce themselves," he said. That would cause China more economic pain.

Facebook CEO Mark Zuckerberg appeared before two Senate committees that comprised almost half the Senate and was questioned about the Cambridge Analytica scandal. As many as 87 million users were affected, and Facebook started notifying them this week.

Facebook shares have dropped sharply since the scandal emerged in March. They rose 4.5 percent to $165.04 Tuesday while Twitter jumped 5.3 percent to $29.53 and Snap gained 2.3 percent to $14.48.

Benchmark U.S. crude rose 3.3 percent to $65.51 a barrel in New York. Brent crude, used to price international oils, added 3.5 percent to $71.04 a barrel in London. Oil prices have bounced up and down recently as investors wonder if the trade dispute will hamper global economic growth.

Exxon Mobil added 2.9 percent to $77.07 and Marathon Oil jumped 4.3 percent to $17.06.

VeriFone Systems surged after it agreed to be bought by Francisco Partners and British Columbia Investment Group. The investment group will pay $23.04 a share, or $2.54 billion, for VeriFone, which makes terminals for electronic payments. VeriFone stock climbed 51.9 percent to $22.78.

In other energy trading, wholesale gasoline rose 2.9 percent to $2.04 a gallon. Heating oil added 3.4 percent to $2.06 a gallon. Natural gas lost 1.4 percent to $2.66 per 1,000 cubic feet.

Gold rose 0.4 percent to $1,345.90 an ounce. Silver added 0.4 percent to $16.60 an ounce. Copper climbed 1.9 percent to $3.14 a pound.

Bond prices turned lower. The yield on the 10-year Treasury note rose to 2.80 percent from 2.78 percent.

The dollar climbed to 107.17 yen from 106.78 yen. The euro rose to $1.2361 from $1.2322.


----------



## bigdog

https://www.usnews.com/news/busines...-meander-following-gains-on-upbeat-trade-talk

*Banks and Technology Stocks Fall; Oil Rises to 3-Year High*
US stock indexes finish mostly lower as banks and technology and health care companies fall, but energy companies rise as oil prices hit a three-year high.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Companies including banks and technology and health care firms fell Wednesday after U.S. stocks had surged the day before. Oil prices hit a three-year high after President Donald trump tweeted that the U.S. will launch missiles at targets in Syria.

Other than energy companies, stocks were slightly lower for most of the day. Banks slipped along with interest rates while health care and technology companies gave up some of the big gains they made on Tuesday. Trump said the U.S. will respond to the recent suspected chemical attack and Saudi Arabia said it intercepted missiles fired by rebels in Yemen. Fighting in the Middle East could restrict oil supplies and push prices higher.

The Federal Reserve released minutes from its meeting in March. Some policymakers felt the central bank may have to increase rates more quickly in response to faster economic growth and rising inflation, and it might have to focus on slowing the economy to keep inflation under control. The market didn't react dramatically to that development, but stock indexes trailed off in the afternoon.

Simona Mocuta, senior economist for State Street Global Advisors, said it's a challenge for investors to respond to events like possible strikes in Syria because it's not clear what the outcomes will be.

"There is so much uncertainty about the geopolitics that it's hard for the market even to price on a day-to-day basis," she said.

The S&P 500 index fell 14.68 points, or 0.6 percent, to 2,642.19 after it surged 1.7 percent Tuesday. The Dow Jones industrial average slid 218.55 points, or 0.9 percent, to 24,189.45. The Nasdaq composite lost 25.27 points, or 0.4 percent, to 7,069.03. But the Russell 2000 index of smaller-company stocks rose 3.36 points, or 0.2 percent, to 1,546.70, and most of the stocks on the New York Stock Exchange finished higher.

Facebook stock continued to rise as CEO Mark Zuckerberg testified before Congress for a second day. The stock surged Tuesday afternoon at the beginning of Zuckerberg's testimony. It rose 0.8 percent to $166.32 Wednesday after a jump of 4.5 percent Tuesday, its biggest gain in two years.

Daniel Ives, head of technology research for GBH Insights, said Facebook rallied for two reasons. One is that Zuckerberg did well in his testimony after investors had their doubts about how he would perform on Capitol Hill. The other is that Wall Street felt many members of Congress weren't very tough on Facebook because they don't grasp some of the relevant issues. As a result, investors grew less worried that the government will crack down on Facebook and other technology companies.

"A lot of the regulators and politicians don't really understand Facebook and its (business) model, so how can you expect that regulation is going to be a near-term issue?" he said. "The political theater and grandstanding has actually worked to the benefit of Facebook and Zuckerberg rather than to its detriment."

Facebook's stock is still down 10 percent since the Cambridge Analytica privacy scandal broke in mid-March. Other social media companies also rallied over the past two days. Snap, the parent of Snapchat, rose 2.2 percent, to $14.80. Twitter slipped 0.5 percent to $29.39 after a 5.4 percent gain Tuesday.

Energy companies rose as benchmark U.S. crude climbed 2 percent to $66.82 a barrel in New York. Brent crude, used to price international oils, gained 1.4 percent to $72.06 a barrel in London. Oil prices jumped more than 3 percent Tuesday as investors got more optimistic about a possible resolution to the U.S.-China trade spat.

Overseas markets mostly fell following their gains the day before. Germany's DAX lost 0.8 percent and the CAC 40 in France dropped 0.6 percent. Britain's FTSE 100 edged 0.1 percent lower. Japan's Nikkei 225 stock index lost 0.5 percent and the Kospi in South Korea declined 0.3 percent. Hong Kong's Hang Seng climbed 0.6 percent.

The yield on the 10-year Treasury note fell to 2.78 percent from 2.80 percent. That put pressure on banks. When bond yields fall, it forces interest rates on mortgages and other kinds of loans lower, meaning lower profits for banks. JPMorgan Chase fell 1.7 percent to $110.62 and Bank of America declined 1.9 percent to $29.90.

Medical and security imaging equipment maker Analogic agreed to be bought by Altaris Capital Partners for $84 a share, or $1.05 billion. That was much less than investors had hoped for and the stock dropped 13.2 percent to $83.35. Analogic spiked from about $84 in March to as much as $96 a share Tuesday. Analogic noted that the stock price was lower than that when the company announced it would consider a sale.

The dollar dipped to 106.95 yen from 107.17 yen. The euro hardly budged as it rose to $1.2362 from $1.2361.

In other commodity trading, gold rose 1 percent to $1,360 an ounce. Silver also rose 1 percent to $16.77 an ounce. Copper lost 0.6 percent to $3.12 a pound.

Wholesale gasoline rose 1.3 percent to $2.07 a gallon and heating oil added 1.4 percent to $2.09 a gallon Natural gas edged up 0.7 percent to $2.68 per 1,000 cubic feet.


----------



## bigdog

https://www.usnews.com/news/busines...s-lower-as-markets-mull-fed-geopolitical-risk

*Technology, Industrials and Banks Lead Rally as Stocks Rise*
Banks and technology and industrial companies help US stocks add to their gains from earlier in the week.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Technology companies, banks and industrial companies all rose Thursday as investors got ready for big banks to announce their first-quarter results and let go of some of their concerns about the trade dispute between the U.S. and China.

Big tech companies like Apple and Microsoft, the market's leaders over the last year, rose again. Industrial companies like Boeing and Caterpillar gained ground as well, with airlines climbing after Delta reported solid results in the first quarter. Bond prices dropped and interest rates rose, which helped banks.

Friday morning, JPMorgan Chase, Wells Fargo and PNC Financial Services will report their first batch of quarterly results since last year's corporate tax cut went into effect. Alicia Levine, head of global investment strategy at BNY Mellon Investment Management, said that's giving investors something new to focus on after almost six weeks of worrying about a trade war.

"Part of the reason that markets were strong this week is in anticipation of perhaps better than expected earnings," she said. Levine said she thinks companies are likely to beat Wall Street's expectations thanks in part to the lower tax rate.

The S&P 500 index gained 21.80 points, or 0.8 percent, to 2,663.99. The Dow Jones industrial average added 293.60 points, or 1.2 percent, to 24,483.05. The Nasdaq composite climbed 71.22 points, or 1 percent, to 7,140.25. The Russell 2000 index of smaller-company stocks advanced 10.52 points, or 0.7 percent, to 1,557.33.

The market has been jittery as investors worried about tariffs and other barriers to trade. Investors may have been pleased to hear that, according to a group of legislators, President Donald Trump asked advisers to explore the possibility of the U.S. rejoining trade talks with 11 Pacific nations. Those countries formalized a deal last month after Trump rejected the Trans-Pacific Partnership, an earlier agreement that involved the U.S.

The S&P 500, a benchmark that is used by many index funds, has fallen for three of the last four weeks, but it's up 2.3 percent so far this week as investors felt new proposals by Chinese President Xi Jinping could help avert a trade war. On Thursday China's government denied that Xi was trying to resolve the dispute and said negotiations with the U.S. aren't possible right now.

Levine, of BNY Mellon, said the tariffs the U.S. and China have proposed won't stop the growth of the U.S. economy, but they could cause real pain for some industries and investors sold stocks in response to that.

"If you use steel and aluminum, you might be less likely to open up another plant if you're a manufacturer," she said. "You might be less likely to raise wages."

Bond prices fell. The yield on the 10-year Treasury note rose to 2.84 percent from 2.79 percent. That helped banks because higher yields mean they can make more money from mortgages and other types of loans. Big dividend stocks like utilities and household goods companies fell, as investors see them as an alternative to bonds and they are less interested in buying them when yields rise.

Home goods retailer Bed, Bath & Beyond plunged after it gave a weak forecast for the fiscal year. The company also said it expects its earnings to decline next year and its stock fell 20 percent to $17.21. Online rival Amazon gained 1.5 percent to $1,448.50.

Oil prices continued to trade at three-year highs. Benchmark U.S. crude rose 0.4 percent to $67.07 a barrel in New York. Brent crude, used to price international oils, shed 0.1 percent to $72.02 a barrel in London.

Precious metals prices tumbled. Gold dropped 1.3 percent to $1,341.90 an ounce and silver fell 1.8 percent to $16.47 an ounce. Copper lost 1.7 percent to $3.06 a pound.

Wholesale gasoline lost 0.6 percent to $2.05 a gallon. Heating oil dipped 0.4 percent to $2.08 a gallon. Natural gas rose 0.4 percent to $2.69 per 1,000 cubic feet.

Bristol-Myers Squibb fell and Pfizer rose after an analyst for Citi Investment Research said a deal between the two drugmakers isn't likely to happen. Analyst Andrew Baum said he met with Pfizer's top executives Wednesday and don't want to buy Bristol-Myers or any other big company. Bristol-Myers lost 2.2 percent to $58.84, giving it a market value of $96 billion. Pfizer rose 1.5 percent to $36.52.

Drugmaker Mallinckrodt dropped after a former employee filed a whistleblower lawsuit against the company. Rasvinder Dhaliwal said Mallinckrodt asked her to mislead an insurance company so it would cover Acthar gel, a drug that brings in more than one third of Mallinckrodt's revenue, and said an executive acknowledged the company misled payers about what Acthar is made of.

The lawsuit says she had numerous other concerns about potentially illegal or improper behavior, but the company retaliated against her for bringing them up and ultimately fired her last month.

Mallinckrodt said it "vehemently disagrees with the allegations" and will defend itself in court. Its stock fell 6.8 percent to $13.89.

The dollar rose to 107.23 yen from 106.95 yen. The euro fell to $1.2329 from $1.2362.

The DAX in Germany rose 1 percent and France's CAC 40 added 0.6 percent. The FTSE 100 in Britain rose less than 0.1 percent. Japan's benchmark Nikkei 225 stock index dipped 0.1 percent while the Kospi in South Korea ended 0.1 percent lower. Hong Kong's Hang Seng fell 0.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines...s-mostly-up-after-wall-street-finishes-higher

*Tumbling Banks Hold Back S&P 500 as Earnings Season Launches*
Bank stocks buckled, even after several reported fatter profits than analysts expected, and the sharp declines overshadowed gains elsewhere in the market to drag the S&P 500 lower.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Bank stocks buckled on Friday, even after several reported fatter profits than analysts expected, and the sharp declines overshadowed gains elsewhere in the market to drag the S&P 500 lower.

JPMorgan Chase and several other financial titans marked the unofficial start of the earnings reporting season, and expectations were high for them, as they are for most major companies. Wall Street is forecasting the strongest growth in seven years for S&P 500 companies, and the hope has been that healthy profit reports in coming weeks will steady the market following a rough couple of months.

But high expectations can be as much a burden as cause for optimism. JPMorgan Chase reported its biggest-ever profit and topped analysts' expectations. But investors were already anticipating the good news that it delivered, such as healthier trading revenue, and took note of things like an increase in charge-offs for credit cards. JPMorgan Chase's shares fell 2.7 percent to $110.30 to lop off most of the big gains it had made earlier in the week.

The S&P 500 fell 7.69 points, or 0.3 percent, to 2,656.30. The loss pared the index's gain for the week to 2 percent.

The Dow Jones industrial average dropped 122.91, or 0.5 percent, to 24,360.14, and the Nasdaq composite lost 33.60, or 0.5 percent, to 7,106.65.

As a group, financial stocks in the S&P 500 fell 1.6 percent, more than double the loss for any of the other 10 sectors that make up the index.

PNC Financial Services Group had one of the biggest losses in the S&P 500 after reporting first-quarter results that fell short of some analysts' expectations. It dropped 4.1 percent to $145.46.

Wells Fargo fell 3.4 percent to $50.89, and Citigroup dropped 1.6 percent to $71.01 even though both reported profits that beat expectations. The possibility of a big settlement with federal regulators hung over Wells Fargo's results.

After weeks where fears about a possible trade war dominated the market, many analysts along Wall Street were expecting strong profit reports to divert investors' attention. Over the long term, stock prices tend to track the progress of corporate profits.

Expectations for profit growth this year may have climbed so high, particularly following Washington's recent overhaul of the tax code, that they may be setting the stage for future disappointment, said Matthew Watson, portfolio manager at James Investment Research.

"In the near term, it looks like companies are beating expectations in general," he said. "Our concern comes over the next 12 months."

Outside financial stocks, other areas of the market were stronger. Energy stocks in the S&P 500 jumped 1.1 percent after the price of oil continued its strong climb.

Benchmark U.S. crude oil added 32 cents to $67.39, its highest settlement price since 2014. Brent crude, the international standard, rose 56 cents to $72.58.

Alaska Air Group jumped to the biggest gain in the S&P 500 after it gave an updated forecast for first-quarter revenue trends that was better than what it had previously given. Shares rose 6.1 percent to $63.95.

Airline stocks have been strong after Delta Air Lines reported stronger-than-expected earnings on Thursday. Delta rose 2.8 percent over the last two days.

Broadcom had one of the biggest gains in the S&P 500 after it said it will repurchase up to $12 billion of its stock. By taking shares off the market, buybacks can result in higher earnings per share for companies. The technology company rose 3.1 percent to $246.94.

In the commodities market, gold rose $6.00 to settle at $1,347.90 per ounce, silver added 19 cents to $16.66 per ounce and copper rose a penny to $3.07 per pound.

Natural gas rose 5 cents to $2.74 per 1,000 cubic feet, heating oil gained 2 cents to $2.10 per gallon and wholesale gasoline added 1 cent to $2.07 per gallon.

The yield on the 10-year Treasury note slipped to 2.82 percent from 2.84 percent late Thursday.

The dollar rose to 107.41 Japanese yen from 107.23 yen late Thursday. The euro rose to $1.2334 from $1.2329, and the British pound rose to $1.4237 from $1.4225.

In European stock markets, France's CAC 40 edged up 0.1 percent, and Germany's DAX gained 0.2 percent. The FTSE 100 in London rose 0.1 percent.

Japan's Nikkei 225 rose 0.5 percent, South Korea's Kospi advanced 0.5 percent and Hong Kong's Hang Seng index edged down 0.1 percent.

3892


----------



## bigdog

https://www.usnews.com/news/busines...care-companies-big-gainers-as-us-stocks-rally

*Tech, Health Care Stocks Are Big Gainers as US Indexes Rally*
Investors shrugged off geopolitical jitters, sending U.S. stocks broadly higher, extending the market's gains from last week.

By ALEX VEIGA, AP Business Writer

Investors shrugged off geopolitical jitters Monday, sending U.S. stocks broadly higher and extending the market's gains from last week.

Technology companies, health care stocks and industrial firms accounted for much of the rally as traders focused on the latest company earnings and deal news. Oil prices fell after surging last week ahead of the U.S.-led missile attack on Syria's chemical weapons program.

"It's some relief from the global political situation over the weekend," said Willie Delwiche, investment strategist at Baird. "The other thing is we've had over the last few weeks particularly this build up in pessimism, and that provided some opportunity for stocks to rally once the news of this event was out of the way."

The S&P 500 index rose 21.54 points, or 0.8 percent, to 2,677.84. The Dow Jones industrial average gained 212.90 points, or 0.9 percent, to 24,573.04. The Nasdaq added 49.63 points, or 0.7 percent, to 7,156.28. The Russell 2000 index of smaller-company stocks picked up 13.52 points, or 0.9 percent, to 1,563.03.

The market was in rally mode from the start of trading Monday, despite a sell-off among major indexes in Europe.

Investors seemed to put aside concerns over the geopolitical tensions that led to Friday night's missile attack by the U.S., Britain and France on Syria's chemical weapons program. On Monday, the White House said it was considering imposing additional sanctions on Russia, a key ally of Syrian leader Bashar Assad.

Instead, the market shifted its focus to corporate America. Wall Street is forecasting the strongest growth in seven years for S&P 500 companies, and the hope has been that healthy profit reports will steady the market following a rough couple of months. Over the long term, stock prices tend to track the progress of corporate profits.

Investors welcomed J.B. Hunt Transport Services' latest quarterly results Monday. The transportation company said shipping volumes grew in the first quarter and rates increased. Its shares climbed 6.2 percent to $119.75.

Bank of America also got a post-earnings boost after the lender posted a larger profit, helped by corporate tax cuts and rising interest rates. Its shares rose 0.4 percent to $29.93.

A couple of gambling companies were among the big movers Monday.

Carl Icahn's company struck a roughly $1.85 billion deal that would fuse the gambling and hotel operations of Tropicana Entertainment to Eldorado Resorts Inc. Tropicana vaulted 26.8 percent to $69.75. Eldorado jumped 16.2 percent to $41.50.

Truck and engine maker Navistar International jumped 9.8 percent to $40.71 after Reuters reported that Volkswagen might buy the company.

Traders sold shares in WPP, the world's largest ad agency, after its CEO, Martin Sorrell, resigned over an investigation into personal misconduct. Analysts say his departure could leave the company he founded three decades ago rudderless, but could also see parts sold off for higher value. The stock fell 4.7 percent to $80.56.

Oil prices fell back from spikes last week on fears over an escalation of strife in the Middle East. Benchmark U.S. crude declined $1.17, or 1.7 percent, to settle at $66.22 per barrel on the New York Mercantile Exchange. Brent crude, which is used to price international oils, slid $1.16, or 1.6 percent, to close at $71.42 per barrel.

Bond prices didn't move much. The yield on the 10-year Treasury held steady at 2.83 percent.

The dollar fell to 107.10 yen from 107.41 yen on Friday. The euro strengthened to $1.2381 from $1.2334.

Gold rose $2.80 to $1,350.70 an ounce. Silver added 2 cents to $16.68 an ounce. Copper gained 2 cents to $3.10 a pound.

In other energy futures trading, heating oil dropped 3 cents to $2.07 a gallon, while wholesale gasoline slid 3 cents to $2.04 a gallon. Natural gas rose 2 cents to $2.75 per 1,000 cubic feet.

Major indexes in Europe finished mostly lower. Germany's DAX lost 0.4 percent, while the CAC 40 in France ended essentially flat. The FTSE 100 in Britain dropped 0.9 percent.

Earlier in Asia, Japan's Nikkei 225 index rose 0.3 percent, while Hong Kong's Hang Seng dropped 1.6 percent. South Korea's Kospi edged 0.1 percent higher. Australia's S&P ASX 200 picked up 0.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines...care-companies-big-gainers-as-us-stocks-rally

*US Stocks Add to Gains as Company Earnings Reports Impress*
Technology companies led U.S. stocks solidly higher, giving the market its second straight gain.

By ALEX VEIGA, AP Business Writer

Technology companies led U.S. stocks solidly higher Tuesday, giving the market its second straight gain.

Consumer-services companies, retailers and health care stocks accounted for a big slice of the broad rally. Banks declined, and oil prices recovered from an early slide.

Strong company earnings and outlooks, as well as some encouraging economic data, helped put investors in a buying mood.

"Even though we're early in the earnings season, the fact that we continue to see good earnings and earnings growth come out is really what's driving the market," said Nana Adae, global investment specialist at J.P. Morgan Private Bank. "Earnings growth ties to fundamentals and fundamentals are key."

The S&P 500 index rose 28.55 points, or 1.1 percent, to 2,706.39. The Dow Jones industrial average gained 213.59 points, or 0.9 percent, to 24,786.63. The latest gain nudged the blue chip average into positive territory for the year.

The Nasdaq composite climbed 124.81 points, or 1.7 percent, to 7,281.10. The Russell 2000 index of smaller-company stocks picked up 16.77 points, or 1.1 percent, to 1,579.80.

While the market has been preoccupied lately with concern over geopolitical and trade tensions, Wall Street has something else to focus on over the next few weeks: company earnings.

Financial analysts are forecasting the strongest growth in seven years for S&P 500 companies, partly because of a resurgent global economy, but also because of expectations that last year's corporate tax cut will have on corporate balance sheets.

"There's no doubt that corporate tax reform is a tail wind for earnings, but organic growth is really what is driving a lot of these earnings," Adae said.

Netflix jumped 9.2 percent to $336.06 after the video streaming service said it gained 7.4 million subscribers in the first quarter, more than analysts expected. Other technology companies also posted gains. Microsoft rose 2 percent to $96.07, while Amazon added 4.3 percent to $1,503.83.

UnitedHealth climbed 3.6 percent to $238.55 after it reported a 31 percent jump in first-quarter profit and said it gained Medicare Advantage and Medicaid customers. The nation's largest health insurer also raised its forecast for 2018.

Celanese gained 3.7 percent to $110.38 after the chemical company's latest results beat analysts' estimates. The company also raised its annual forecasts.

Some companies failed to impress traders. Johnson & Johnson fell 0.9 percent to $130.54 after much-higher spending and one-time charges offset a big jump in the company's first-quarter revenue.

Tesla Motors slid 1.2 percent to $287.69 following reports that the car maker shut down production of its Model 3 mass-market electric car again to solve manufacturing bottlenecks.

Southwest Airlines gave up 1.1 percent to $54.27 after one person was killed and others were injured when one of the airline's jets made an emergency landing at Philadelphia's airport Tuesday following an engine failure.

Investors also got some encouraging economic data Tuesday. The International Monetary Fund upgraded its economic outlook for the United States in 2018, forecasting that the U.S. economy will grow 2.9 percent this year, up from the 2.7 percent it had forecast in January and from the 2.3 percent growth the economy achieved last year. And the Federal Reserve said that U.S. factory output rose slightly last month.

Meanwhile, the Commerce Department said that housing starts rose in March to a seasonally adjusted annual rate of 1.32 million. That helped send homebuilder stocks higher. Hovnanian Enterprises led the pack, climbing 4.7 percent to $2.02.

Bond prices rose. The yield on the 10-year Treasury slipped to 2.82 percent from 2.83 percent late Monday. The decline in bond yields, which influence interest rates on mortgages and other loans, weighed on some bank shares. Comerica fell 3.5 percent to $92.74 and SunTrust Banks fell 2.2 percent to $65.95.

The dollar fell to 107.02 yen from 107.10 yen late Monday. The euro fell to $1.2367 from $1.2381.

Gold fell $1.20 to $1,349.50 an ounce. Silver added 11 cents to $16.79 an ounce. Copper slipped 2 cents to $3.08 a pound.

Benchmark U.S. crude rose 30 cents to settle at $66.52 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, gained 16 cents to close at $71.58 per barrel.

In other energy futures trading, heating oil dropped 1 cent to $2.06 a gallon. Wholesale gasoline was little changed at $2.04 a gallon. Natural gas fell 1 cent to $2.74 per 1,000 cubic feet.

Major indexes in Europe also rose. Germany's DAX climbed 1.6 percent, while France's CAC 40 rose 0.8 percent. Britain's FTSE 100 added 0.4 percent.

In Asia, Japan's benchmark Nikkei 225 edged 0.1 percent higher, while Australia's S&P/ASX 200 was unchanged. South Korea's Kospi lost 0.2 percent. Hong Kong's Hang Seng shed 0.9 percent after new data showed China's economic growth held steady in the first quarter.


----------



## bigdog

https://www.usnews.com/news/busines...ocks-rise-after-wall-street-gains-for-2nd-day

*Stocks End Modestly Higher as Earnings Come In; Oil Surges*
U.S. stocks capped a day of mostly choppy trading broadly higher, giving the S&P 500 its third gain in as many days.

By ALEX VEIGA, AP Business Writer

US stocks finished broadly higher Wednesday, giving the S&P 500 its third gain in as many days.

Energy companies rose more than the rest of the market, riding a big upturn in crude oil prices. Solid gains in industrial stocks and retailers outweighed losses among food and beverage companies, technology stocks and banks.

Investors continued to bid up companies that reported positive earnings or outlooks. Not all companies delivered welcome results. IBM slumped 7.5 percent, single-handedly pulling the Dow Jones industrial average into the red.

"Earnings are the principal thing this week," said Paul Christopher, head of global market strategy for Wells Fargo Investment Institute. "The market wants to see more consistent evidence of strong earnings."

The S&P 500 index rose 2.25 points, or 0.1 percent, to 2,708.64. The Dow slid 38.56 points, or 0.2 percent, to 24,748.07. The Nasdaq composite gained 14.14 points, or 0.2 percent, to 7,295.24. The Russell 2000 index of smaller-company stocks picked up 3.76 points, or 0.2 percent, to 1,583.56.

The major stock indexes are all on track to finish the week higher.

Bond prices fell. The yield on the 10-year Treasury rose to 2.87 percent from 2.83 percent late Tuesday.

Investors continued to sift through corporate earnings reports. Financial analysts are forecasting the strongest growth in seven years for S&P 500 companies, partly because of a resurgent global economy, but also because of expectations that last year's corporate tax cut will have on corporate balance sheets.

Roughly 10 percent of the companies in the S&P 500 have reported results so far this earnings season, and some 67 percent of those have delivered both earnings and revenue that exceeded financial analysts' expectations, according to S&P Global Market Intelligence.

Railroad operator CSX jumped 7.8 percent to $61.01 and aircraft maker Textron climbed 6.8 percent to $63.99 after reporting results that beat analysts' forecasts.

United Continental rose 4.8 percent to $70.58 after the airline company raised its earnings outlook for the year.

Best Buy added 3.6 percent to $75.40 after announcing a partnership to sell Fire TVs with Amazon.

IBM was the biggest decliner in the S&P 500, sliding 7.5 percent to $148.79. That's its biggest loss in five years. The technology company's results failed to impress investors.

Oil futures surged, pushing closer to $70 a barrel. The pickup in the price of crude came as Reuters published a report citing unnamed industry sources saying that Saudi Arabia would be happy to see crude oil prices hit $100 a barrel.

Benchmark U.S. crude rose $1.95, or 2.9 percent, to settle at $68.47 per barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, added $1.90, or 2.7 percent, to close at $73.48 per barrel in London.

"If you look at the activity in oil over the last couple of weeks, it almost seems like it's destined to flirt with the $70 level to see if it can break through," said JJ Kinahan, chief market strategist for TD Ameritrade. "The market seems very comfortable between this $58 and $70-ish area."

The surge in oil prices helped lift energy stocks. Newfield Exploration added 5.9 percent to $28.89.

The dollar gained to 107.26 yen from Tuesday's 107.02 yen. The euro rose to $1.2377 from $1.2367.

Gold rose $4 to $1,353.50 an ounce. Silver gained 46 cents, or 2.7 percent, to $17.25 an ounce. Copper added 8 cents to $3.16 a pound.

In other energy futures trading, heating oil rose 3 cents to $2.09 a gallon. Wholesale gasoline picked up 3 cents to $2.07 a gallon. Natural gas was little changed at $2.74 per 1,000 cubic feet.

Major stock indexes in Europe finished mostly higher. Germany's DAX was ended flat, while France's CAC 40 rose 0.5 percent. Britain's FTSE 100 added 1.3 percent. Indexes in Asia ended higher. Tokyo's Nikkei 225 rose 1.4 percent, while Hong Kong's Hang Seng added 0.7 percent. Seoul's Kospi rose 1.1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ares-oil-prices-rise-on-upbeat-global-outlook

*Stocks Post First Loss of the Week as Tech Companies Drop*
Losses among technology and consumer products companies weighed on U.S. stocks, snapping a three-day winning streak for the market.

By ALEX VEIGA, AP Business Writer

Losses among technology and consumer products companies weighed on U.S. stocks Thursday, snapping a three-day winning streak for the market.

Banks bucked the trend, rising along with bond yields. Energy companies also eked out a slight gain, despite a late-afternoon downturn in oil prices. The broad market slide came as investors pored over the latest corporate quarterly results.

"The earnings were a little bit disappointing today and we're just really seeing, especially within the tech sector, follow-through on some of the big names that have reported disappointing numbers in some key spaces," said Lindsey Bell, an investment strategist at CFRA Research.

The S&P 500 index fell 15.51 points, or 0.6 percent, to 2,693.13. The Dow Jones industrial average slid 83.18 points, or 0.3 percent, to 24,664.89. The drop knocked the blue chip average slightly into the red for the year.

The Nasdaq composite lost 57.18 points, or 0.8 percent, to 7,238.06. The Russell 2000 index of smaller-company stocks gave up 9.74 points, or 0.6 percent, to 1,573.82.

The major indexes were headed lower from the get-go as investors looked over the latest corporate earnings. Disappointing results from Philip Morris International and Procter & Gamble helped pull the market lower early on.

Philip Morris disclosed weak quarterly sales and said sales of its iQos device in Japan were slower than expected. The stock was the biggest decliner in the S&P 500, sinking 15.6 percent to $85.64. That's the tobacco company's worst single-day loss of all time.

Procter & Gamble declined 3.3 percent to $74.95 despite posting results that topped Wall Street's forecasts. The consumer products company reported a flat third-quarter profit and President and CEO David Taylor said the company is facing a challenging "macro environment" and that markets that it operates within are being transformed.

Technology stocks, still the biggest gainers this year, weighed on the market. Companies in the computer chip business were big decliners for the second day in a row. Lam Research, which makes chip-making equipment, led the slide, dropping 6.6 percent to $190.39.

Qualcomm slid 4.8 percent to $52.57 after the Chinese government said it still has concerns about the company's deal to buy NXP Semiconductors. Qualcomm withdrew one proposal for the deal Monday and submitted another.

Financial analysts are forecasting the strongest growth in seven years for S&P 500 companies, partly because of a resurgent global economy, but also because of expectations that last year's corporate tax cut will have on corporate balance sheets.

Roughly 10 percent of the companies in the S&P 500 have released quarterly results so far. And most have reported earnings and sales that beat financial analysts' forecasts. But that hasn't necessarily translated into gains for shareholders.

On average, the S&P 500 companies that have reported earnings and revenue that topped Wall Street's expectations saw their share price decline 5 percent on the day they released their results, Bell said.

"A lot of people had high expectations for the first quarter, as far as earnings results go, but it wasn't really reflected in stock prices, necessarily," Bell said, noting that investors appear to be unimpressed by the forecasts that management teams are giving for coming quarters.

Some corporate report cards did impress investors.

American Express jumped 7.6 percent to $102.37 after the credit card issuer reported a big quarterly profit thanks to strong customer spending and a lower tax rate.

Rising bond yields helped push bank shares higher. When bond yields rise, they drive up interest rates on mortgages and other loans, which can translate into bigger profits for banks. Bank of New York Mellon gained 5.7 percent to $54.24.

The yield on the 10-year Treasury rose to 2.92 percent from 2.88 percent late Wednesday. That's the highest level since February.

Benchmark U.S. crude gave up early gains, slipping 18 cents to settle at $68.29 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, added 30 cents to close at $73.78 per barrel in London.

Gold fell $4.70 to $1,348.80 an ounce. Silver slipped a penny to $17.24 an ounce. Copper dropped 3 cents to $3.13 a pound.

Aluminum rose about 4 cents to $1.4055 a pound, according to S&P Global Platts. The price, which includes the London Metal Exchange cash settlement and the U.S. transaction premium, spiked earlier this month after the U.S. slapped a major Russian exporter of the metal with sanctions, effectively blocking its supply from reaching the market.

The dollar rose to 107.41 yen from 107.26 yen on Wednesday. The euro fell to $1.2337 from $1.2377.

Indexes in Europe closed mostly higher. Germany's DAX slipped 0.2 percent, while France's CAC 40 rose 0.2 percent. Britain's FTSE 100 added 0.2 percent.

Major indexes in Asia finished higher. Japan's benchmark Nikkei 225 index rose 0.6 percent and South Korea's Kospi added 0.4 percent. Hong Kong's Hang Seng jumped 1.3 percent. Australia's S&P/ASX 200 gained 0.6 percent. Shares also rose in Taiwan and Southeast Asia.


----------



## bigdog

https://www.usnews.com/news/busines...hares-fall-back-on-trade-worries-tech-outlook

*Slumping Tech Companies Weigh on US Stocks*
A steep slide in technology stocks weighed on U.S. stocks Friday, pulling the market lower for the second day in a row.

By ALEX VEIGA, AP Business Writer

A steep slide in technology companies weighed on U.S. stocks Friday, pulling the market lower for the second day in a row.

Losses among retailers, packaged food and beverage makers and other consumer goods companies also helped weigh down the market. Banks rose as bond yields continued to climb, reflecting increasing investor concerns of higher inflation in the wake of rising oil and other commodity prices.

"Higher commodity prices, a little bit more inflation pressure and higher interest rates, that sort of takes some wind out of the sails for equity markets, at least short-term," said Edward Campbell, senior portfolio manager at QMA, a business unit of PGIM.

The S&P 500 index fell 22.99 points, or 0.9 percent, to 2,670.14. The Dow Jones industrial average slid 201.95 points, or 0.8 percent, to 24,462.94. The Nasdaq composite lost 91.93 points, or 1.3 percent, to 7,146.13. The Russell 2000 index of smaller-company stocks gave up 9.69 points, or 0.6 percent, to 1,564.12.

For every stock that rose on the New York Stock Exchange, two declined. Still, the indexes finished the week with a gain.

"This is just the market taking a breather here in an up month," Campbell said.

Bond prices continued to slide as bond yields rose. The yield on the 10-year Treasury rose to 2.96 percent. That's up from 2.91 percent late Thursday and the highest level since January 2014.

The pickup in bond yields helped drive bank shares higher. When bond yields rise, they drive up interest rates on mortgages and other loans, which can translate into bigger profits for banks. Regions Financial gained 4.1 percent to $18.89.

Technology stocks were the biggest contributor to the market decline, adding to the sector's losses for the week. It's still up 4.4 percent this year. Apple led the sector slide, finishing lower for the third day in a row. The stock lost 4.1 percent to $165.72.

Mattel was one of the biggest decliners among consumer-focused companies. The struggling toy maker slid 3.6 percent to $12.96 after announcing that CEO Margo Georgiadis is stepping down and is being succeeded by a company director and former studio executive.

Investors continued to weigh company earnings. While the busiest stretch of the current earnings reporting season begins next week, most of the S&P 500 companies that have reported results or outlooks so far have exceeded Wall Street's projections.

There have also been some big disappointments.

On Friday, Stanley Black & Decker slid 6.7 percent to $144.21 after the tool company said commodities costs rose in the first quarter and sales of outdoor products got off to a slow start.

Skechers USA also tumbled, sinking 27 percent to $30.70 after the footwear company issued a second-quarter forecast that was far weaker than analysts had expected.

Investors welcomed General Electric's latest results, which topped analysts' forecasts. Shares in the conglomerate climbed 3.9 percent to $14.54.

Crude oil prices reversed an early slide triggered by news that representatives from OPEC nations and allied oil ministers were meeting in Saudi Arabia to discuss their agreement to maintain cuts to production in a bid to keep prices up. Benchmark U.S. crude gained 9 cents to settle at $68.38 per barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, added 28 cents to $74.06 per barrel in London.

"With commodity prices being up, that's just more signs of inflation pressure and something for the markets to worry about a little bit more," Campbell said.

The dollar rose to 107.60 yen from 107.41 yen on Thursday. The euro fell to $1.2283 from $1.2337. The pound weakened to $1.4023 from $1.4078 after the Bank of England's governor cast some doubts about the possibility of a rate increase next month.

Gold fell $10.50 to $1,338.30 an ounce. Silver dropped 8 cents to $17.16 an ounce. Copper was little changed at $3.14 a pound.

In other energy futures trading, heating oil rose a penny to $2.12 a gallon. Wholesale gasoline picked up 2 cents to $2.10 a gallon. Natural gas gained 8 cents to $2.74 per 1,000 cubic feet.

Major stock indexes in Europe closed mostly higher. Germany's DAX slipped 0.3 percent, while France's CAC 40 gained 0.2 percent. Britain's FTSE 100 rose 0.4 percent.

Asian stock indexes finished lower. Japan's Nikkei 225 slipped 0.1 percent. South Korea's Kospi lost 0.4 percent, while Hong Kong's Hang Seng index fell 0.9 percent.

4169


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## bigdog

https://finance.yahoo.com/news/us-s...ur-highs-140328067--finance.html?guccounter=1

*US stocks wobble and bond yields set four-year highs*




Marley Jay, AP Markets Writer

NEW YORK (AP) -- U.S. stocks couldn't hang on to an early gain and finished mostly lower Monday as technology companies slipped. Bond prices continue to fall and the yield on the 10-year Treasury note drew closer to 3 percent, a milestone it hasn't reached since January 2014.

Investors once again focused on corporate deals Monday as utility company Vectren agreed to be bought by CenterPoint Energy for $6 billion, while the CEO of Sears called for the company to sell more assets and health care products company Henry Schein said it will split off its animal health unit. Aluminum producers tumbled after the Treasury Department moved to ease sanctions against Russian aluminum company Rusal.

Stocks have faded over the last few days as bond yields continued to climb. The yield on the 10-year Treasury note continued to trade at four-year highs, rising to 2.98 percent from 2.96 percent. Bond yields have climbed this year as investors are starting to see signs that inflation is picking up and the Federal Reserve continues to raise interest rates. The 10-year yield stood at 2.43 percent at the end of 2017.

Since the global financial crisis in 2008-09, a combination of low inflation expectations and a bond-buying program by the Federal Reserve have helped keep bond yields low. That pushed stocks higher by making bonds less appealing by comparison. With the Fed no longer buying bonds and investors expecting greater inflation, analysts say higher yields could make bonds more attractive.

Duane McAllister, senior portfolio manager for Baird Advisors, said he doesn't think rising yields are a problem for the stock market. He said they are an opportunity for investors to diversify their holdings at a time of increased market volatility.

"Three percent is an important milestone on the continued trend toward higher interest rates," he said. "It shouldn't lead anyone, whether you're an individual investor or an institutional investor, to run for the hills."

The S&P 500 index rose 0.15 points to 2,670.29. It rose as much as 12 points before midday. The Dow Jones industrial average fell 14.25 points, or 0.1 percent, to 24,448.69. The Nasdaq composite gave up 17.52 points, or 0.2 percent, to 7,128.60. The Russell 2000 index of smaller-company stocks declined 2 points, or 0.1 percent, to 1,562.12.

Earlier this month, a Bank of America Merrill Lynch Global Research survey of fund managers concluded that if the 10-year yield rises to 3.50 percent, investors will start buying bonds while selling stocks. And when bond yields rise, it pushes up interest rates on mortgages and other kinds of loans, making it more expensive to borrow money. That can slow down economic growth.

Aluminum companies fell sharply after the Treasury Department extended a deadline for U.S. companies to stop doing business with Rusal. The department also said it could change its stance on sanctions against the Russian aluminum company if billionaire businessman Oleg Deripaska gives up control. Earlier this month the U.S. imposed sanctions that bar citizens from doing business with numerous Russian businessmen, including Deripaska, as well as several Russian officials and companies. That followed U.S. frustration with Russian policy in Syria and Ukraine, as well as alleged election interference.

Alcoa plunged 13.5 percent to $51.90 and Century Aluminum gave up 53 percent to $16.72. The stocks had rallied after the sanctions were announced.

Walmart fell 1 percent after Bloomberg reported that the retailer might spend $12 billion to buy the majority of Indian e-commerce company FlipKart.

The CEO of Sears, Eddie Lampert, called for the struggling retailer to sell the Kenmore brand and its home improvement business. ESL Investments, Lampert's hedge fund, said it might buy the home improvement assets and is willing to make an offer for Kenmore as well. Sears has been closing stores, cutting costs and selling brands as its sales fall. Its stock rose 7.6 percent to $3.24.

Health care products company Henry Schein jumped after it said it will spin off its animal health business. That division will combine with Vets FirstChoice as a new publicly traded company, and Henry Schein expects to get at least $1 billion in cash from the tax-free move. The stock gained 6.8 percent to $73.79.

Benchmark U.S. crude oil reversed an early loss and rose 0.4 percent to $68.64 a barrel in New York. Brent crude, used to price international oils, gained 0.9 percent to $74.71 per barrel in London. That helped energy companies finish higher. Wholesale gasoline rose 1.3 percent to $2.12 a gallon. Heating oil rose 0.8 percent to $2.14 a gallon. Natural gas stayed at $2.74 per 1,000 cubic feet.

Gold and silver prices tumbled. Gold fell 1.1 percent to $1,324 an ounce and silver fell 3.4 percent to $16.59 an ounce. Copper lost 0.8 percent to $3.11 a pound.

The dollar rose to 108.65 yen from 107.60 yen. The euro fell to $1.2205 from $1.2283.

The CAC 40 in France gained 0.5 percent. Britain's FTSE 100 rose 0.4 percent, and Germany's DAX added 0.3 percent. Tokyo's Nikkei 225 fell 0.3 percent and South Korea's Kospi shed 0.1 percent. Hong Kong's Hang Seng declined 0.5 percent.


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## bigdog

*Sell-Off in Industrial, Tech Stocks Sends Dow Down 400*






https://www.usnews.com/news/busines...-advance-as-us-bond-yields-push-dollar-higher

*Sell-Off in Industrial, Tech Stocks Sends Dow Down 400*
U.S. stocks tumble as investors worry that rising costs will slow down growth in company profits.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — After a strong start, U.S. stocks abruptly sold off Tuesday after machinery maker Caterpillar said it doesn't expect to top its first-quarter profit for the rest of the year. The Dow Jones industrial average plunged as much as 619 points as investors feared that rising oil prices and other costs will slow down growth in company profits.

Stocks climbed in early trading as companies like Caterpillar, appliance maker Whirlpool, and Fifth Third Bancorp posted strong quarterly results. Then Caterpillar executives told analysts on a conference call in the late morning that they don't expect the company to report a larger per-share profit for the rest of 2018. Other industrial, technology and basic materials companies also took sharp losses.

The S&P 500 index sank 35.73 points, or 1.3 percent, to 2,634.56. The Dow Jones industrial average finished with a loss of 424.56 points, or 1.7 percent, to 24,024.13. The Nasdaq composite dropped 121.25 points, or 1.7 percent, to 7,007.35.

Small-company stocks held up better than the rest of the market. The Russell 2000 index declined 8.84 points, or 0.6 percent, to 1,553.28, about half as much as the S&P 500, which tracks large U.S. companies.

Caterpillar's products are used in a wide variety of industries including construction, power generation, mining and oil and gas drilling. Meanwhile 3M, which makes Post-it notes and industrial coatings and ceramics, said the rising price of oil and other materials is affecting its business.

The companies' statements came as interest rates kept rising, which makes it more expensive for companies to borrow money. The yield on the 10-year Treasury note rose to 3 percent for the first time in more than four years.

Stocks shot up at the end of 2017 and the start of 2018 as investors bet that the corporate tax overhaul would lead to bigger profits for American companies and greater economic growth. Gina Martin Adams, chief equity strategist for Bloomberg Intelligence, said it hasn't happened yet.

"We're not yet seeing a very strong recovery in the broader economic numbers that would suggest the impact of tax reform is more than just temporary," she said. "The market is very impatient."

Adams said the tax cuts may help stocks later on, but investors always want to see better and faster growth, and now they're not sure where that improvement will come from.

The worries began to set in after construction and mining equipment maker Caterpillar said it doesn't expect to top its first-quarter profit for the rest of this year. Industrial and basic materials companies and technology firms took some of the worst losses.

Wall Street had cheered Caterpillar's results earlier in the day after the company had a strong first quarter and raised its forecasts for the year. But the stock gave up those gains and finished with a loss of 6.2 percent at $144.44.

3M shed 6.8 percent to $201.13. Chemical companies and other materials makers could also see their profits affected as oil prices and other expenses rise. DowDuPont shed 3.7 percent to $63.1. Elsewhere, aerospace company Boeing lost 2.9 percent to $329.06.

Bond prices slipped again Tuesday. The yield on the 10-year Treasury note rose to 2.99 percent from 2.98 percent. Earlier it peaked at 3 percent for the first time since January 2014.

Low interest rates have played an important role in the economic recovery of the last decade, and the yield on the 10-year note is a benchmark for many kinds of interest rates including mortgages. It's been climbing because investors expect higher economic growth and inflation.

Since the global financial crisis in 2008-09, a combination of low inflation expectations and a bond-buying program by the Federal Reserve have helped keep bond yields low, but they have climbed this year as inflation expectations have picked up. The 10-year yield traded at 2.43 percent at the beginning of the year.

Alphabet slid 4.8 percent to $1,022.64 after the company said ad revenue climbed, but expenses also rose. Google's parent company benefited from strong digital ad sales as well as an accounting change. Other big technology companies also fell, as Facebook dropped 3.7 percent to $159.69 and Microsoft skidded 2.3 percent to $93.12. Another market favorite, online retailer Amazon, shed 3.8 percent to $1,460.09.

The dollar edged up to 108.67 yen from 108.65 yen. The euro rose to $1.2237 from $1.2205.

Benchmark U.S. crude oil shed 1.4 percent to $67.70 a barrel in New York. Brent crude, used to price international oils, fell 1.1 percent to $73.86 per barrel in London.

Wholesale gasoline lost 1.4 percent to $2.09 a gallon. Heating oil dipped 0.6 percent to $2.13 a gallon. Natural gas rose 1.5 percent to $2.78 per 1,000 cubic feet.

Gold rose 0.7 percent to $1,333 an ounce. Silver climbed 0.7 percent to $16.70 an ounce. Copper rose 1 percent to $3.14 a pound.

Germany's DAX lost 0.2 percent while the French CAC 40 added 0.1 percent and Britain's FTSE 100 rose 0.4 percent. Japan's benchmark Nikkei 225 rose 0.9 percent, helped by the weaker yen. The Kospi in South Korea lost 0.4 percent and Hong Kong's Hang Seng added 1.4 percent.


----------



## bigdog

*AUSTRALIA AND NEW ZEALAND ANZAC PUBLIC HOLIDAY YESTERDAY*

Lest We Forget.






https://www.usnews.com/news/busines...stocks-slip-following-sell-off-on-wall-street

*Stocks Close Mixed; Dow Industrials End a Losing Streak*
Gains for energy companies and retailers help stocks reverse some sharp early losses and finish the day mixed.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — A late round of buying erased early losses on Wall Street, leaving major indexes mixed at the close of trading. Bigger companies managed to eke out modest gains, while smaller companies mostly fell.

A big gain in Boeing pushed the Dow Jones industrial average higher, breaking a five-day losing streak. Late in the day, energy companies got a boost after Exxon Mobil said it is raising its quarterly dividend.

Stocks got off to a weak start as investors worried that growing costs for raw materials along with rising interest rates would hold back profit growth for U.S. companies. Defense contractors stumbled following first-quarter reports from Northrop Grumman and General Dynamics.

U.S. bond yields rose again and set four-year highs while oil prices, already at three-year highs, continued to move higher.

Stocks had tumbled on Tuesday after companies including Caterpillar, 3M and Sherwin-Williams said they seeing higher costs. Caterpillar also said it doesn't expect to top its first-quarter earnings for the rest of this year.

On Wednesday Goodyear Tire & Rubber said higher raw materials costs and weaker demand hurt its business in the first quarter. Its stock fell 5.1 percent to $25.51.

Invesco Chief Global Market Strategist Kristina Hooper said investors are starting to worry that the market's best days are behind it. She noted that wages are rising, as unemployment has been at multi-decade lows for the last few years. That means costs for companies are up. Oil prices have also jumped and investors are worried that new tariffs will also drive up costs and affect company earnings in the months to come.

"I wouldn't be surprised if earnings peaked by the end of this year, but certainly they haven't peaked yet," she said.

The S&P 500 index added 4.84 points, or 0.2 percent, to 2,639.40. The Dow rose 59.70 points, or 0.2 percent, at 24,083.83. The losing streak was its longest in more than a year.

The Nasdaq composite dipped 3.61 points, or 0.1 percent, to 7,003.74. The Russell 2000 index of smaller-company stocks lost 2.81 points, or 0.2 percent, to 1,550.47. Most stocks on the New York Stock Exchange fell.

Investors expected strong profit growth this year thanks to the growing global economy and the corporate tax cut President Donald Trump signed at the end of 2017. That optimism helped send stocks to record highs in January. Now investors are worrying about whether that growth will show up.

Aerospace company Boeing topped Wall Street's estimates in the first quarter and raised its forecasts for the year. Its stock gained 4.2 percent to $342.86 and railroad operator Norfolk Southern climbed 8.1 percent to $145.96 after it, too, surpassed analyst projections.

Investors also monitored rising interest rates, which tend to slow down economic growth by making it more expensive for people and companies to borrow money. Bond prices fell again Wednesday, sending yields higher. The yield on the 10-year Treasury note kept setting four-year highs as it rose to 3.03 percent from 3 percent.

Low interest rates have played an important role in the economic recovery of the last decade, and the yield on the 10-year note is a benchmark for many kinds of interest rates including mortgages. It's been climbing because investors expect higher economic growth and inflation. While investors expect the Federal Reserve to raise interest rates two more times this year, growing numbers of them now expect it to raise rates a third time after that.

Media conglomerate Comcast made a new offer to buy British broadcaster Sky, this time for $30 billion. Sky had accepted a $16.5 billion offer from 21st Century Fox. British regulators are investigating whether Fox's bid for Sky would give Rupert Murdoch and his family too much control over the country's news media.

Comcast also had a stronger first quarter than analysts expected, although it continued to lose cable subscribers. Its stock rose 2.7 percent to $34.26. Sky gained 3.9 percent in London. Fox rose 1.6 percent to $36.58, while Disney, which plans to buy most of Fox's overseas and entertainment assets, climbed 1.7 percent to $101.15.

Germany's DAX fell 1 percent and Britain's FTSE 100 and France's CAC 40 both lost 0.6 percent. Japan's benchmark Nikkei 225 shed 0.3 percent. Hong Kong's Hang Seng lost 1.1 percent and the South Korean Kospi lost 0.6 percent.

The dollar rose to 109.34 yen from 108.67 yen. The euro fell to $1.2175 from $1.2237.

Benchmark U.S. crude oil rose 0.5 percent to $68.05 a barrel in New York. It's up 33 percent over the last 12 months and trading at its highest price in more than three years. Brent crude, used to price international oils, rose 0.2 percent to $74 a barrel in London.

Wholesale gasoline fell 0.2 percent to $2.09 a gallon. Heating oil rose 0.4 percent to $2.14 a gallon. Natural gas rose 0.2 percent to $2.79 per 1,000 cubic feet.

Gold fell 0.7 percent to $1,323.70 an ounce and silver sank 1.1 percent to $16.52 an ounce.


----------



## bigdog

https://www.usnews.com/news/busines...s-mixed-as-investors-consider-latest-earnings

*Facebook and Big Tech Stocks Rally as US Indexes Climb*
US stocks are rising as a big gain for Facebook helps technology companies rally and other big companies including Alphabet, Microsoft and Amazon also jump.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks climbed Thursday as Facebook led a rally by technology companies. Most of the market moved higher as interest rates declined from the four-year highs reached over the last few days.

Facebook saw its stock price wither last month after its data privacy scandal, but shares surged Thursday as the controversy didn't appear to affect the social media platform's business in the first quarter. Other big technology companies like Alphabet and Microsoft also rallied and reversed some of their recent losses.

Strong first-quarter results from companies including Chipotle Mexican Grill and O'Reilly Automotive helped retailers and other consumer-focused companies. Amazon surged and energy companies also climbed. Stock indexes rose and interest rates decreased after a Commerce Department survey showed business investment decreased in March for the third time in the last four months.

Scott Wren, senior global equity strategist for the Wells Fargo Investment Institute, said investors were happy to see the decline in business investment because it might encourage the Federal Reserve to raise interest rates at a slower clip.

"To me the biggest risk (to the market) is the Fed, and the Fed hiking rates too much, given at least the level of economic growth we expect," he said.

The S&P 500 index jumped 27.54 points, or 1 percent, to 2,666.94. The Dow Jones industrial average added 238.51 points, or 1 percent, to 24,322.34. The technology-heavy Nasdaq composite advanced 114.94 points, or 1.6 percent, to 7,118.68.

The Russell 2000 index of smaller-company stocks added 7.43 points, or 0.5 percent, to 1,557.89.

Three months ago the S&P 500 and Dow closed at all-time highs. At that time they had repeatedly set records for a year and a half. But since Jan. 26 the market has been hit by worries about rising inflation and a potential trade war between the U.S. and China, and big names like Facebook and Amazon have had a rough ride. The S&P is down 7.2 percent in the last three months and the Dow has slumped 8.6 percent.

Facebook surged 9.1 percent to $174.16 after the company's advertisers appeared to shrug off the Cambridge Analytica privacy scandal. Facebook said its revenue jumped and there were few signs users or advertisers were abandoning the company since the scandal broke in mid-March.

Alphabet, Google's parent company and the only digital publisher larger than Facebook, rose 2 percent to $1,043.31. Twitter gained 1.7 percent to $30.27.

Facebook has faced a backlash about how it collects and uses data since the revelation that Cambridge Analytica, a data mining firm linked to the Trump campaign, had gained information on up to 87 million of its users.

Facebook stock is down 5.9 percent since then, and other technology companies have also stumbled as investors worried about the possibility that the government would start regulating them more harshly, which could affect their profits.

Amazon jumped 4 percent to $1,517.96. It rose another 6 percent in aftermarket trading as Wall Street was pleased with the online retailer's first-quarter results.

Wren, of Wells Fargo, said that big name technology and consumer-focused stocks have struggled since the market reached its recent highs, but they should continue to do well.

"This cycle isn't over and technology and the consumer discretionary sector are going to continue to participate in the upside (for the market)," he said.

Chipotle Mexican Grill climbed after the company said sales improved in the first quarter, raising hopes that the chain is recovering from repeated food safety scares. The shares rose 24.4 percent to $422.50. They traded as high as $757 in mid-2015.

Bond prices edged higher. The yield on the 10-year Treasury note dipped to 2.98 percent from 3.03 percent.

AT&T fell 6 percent to $33.107 after its profit and revenue fell short of Wall Street estimates, and analysts said its video business struggled. E-commerce company eBay slid 5.6 percent to $38.68 after its first-quarter sales and second-quarter forecast disappointed Wall Street.

Benchmark U.S. crude oil inched up 0.2 percent to $68.19 a barrel in New York. Brent crude, used to price international oils, rose 1 percent to $74.74 a barrel in London.

Oil prices have surged in recent months, driving up fuel costs for many companies. Those expenses were a problem for airlines in the first quarter, as American said its profit fell 45 percent and cut its profit forecast for the rest of the year. Its stock lost 46.4 percent to $42.37.

Wholesale gasoline gained 1.1 percent to $2.11 a gallon. Heating oil rose 1.1 percent to $2.16 a gallon. Natural gas rose 1.3 percent to $2.82 per 1,000 cubic feet.

Gold lost 0.4 percent to $1,317.90 an ounce. Silver fell 0.1 percent to $16.49 an ounce. Copper sank 0.7 percent to $3.11 a pound.

The dollar rose to 109.36 yen from 109.34 yen and the euro dipped to $1.2106 from $1.2175.

France's CAC 40 rose 0.7 percent and the British FTSE 100 and German DAX both added 0.6 percent. Japan's benchmark Nikkei 225 index climbed 0.5 percent and South Korea's Kospi jumped 1.1 percent after Samsung reported better than expected earnings. Hong Kong's Hang Seng lost 1.1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ollow-wall-street-higher-after-strong-results

*Stocks Finish Mixed as Amazon Leads Retail Rally; Exxon Dips*
US stocks finish little changed Friday, ending an up and down week, as Amazon jumps following a bigger-than-expected profit in the first quarter but Exxon Mobil sinks.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks finished with a split decision Friday after a wobbly day of trading. Amazon led a rally among retailers, but Exxon Mobil dragged energy companies lower to end an uneven week on Wall Street.

So far the first-quarter earnings season has been a strong one for U.S. companies, but it hasn't thrilled investors. On Friday Amazon, Microsoft and Expedia all climbed after reporting earnings, but Exxon, Charter Communications and Starbucks all slumped. According to FactSet, about 80 percent of the S&P companies that have reported their results have announced a larger per-share profit than analysts expected.

High-dividend companies like utilities rose as bond yields slipped, but defense contractors fell. Asian stocks rose following the landmark summit of the leaders from North and South Korea.

This week investors worried that rising raw materials costs, as well as higher interest rates and wages, could eat into corporate profits. Meanwhile they were pleased with strong results from Facebook, Amazon, Microsoft and others. The S&P 500 index finished the week almost exactly where it started.

Karyn Cavanaugh, senior market strategist for Voya Investment Strategies, said investors haven't regained their confidence since February's market plunge. But in her view, the economy continues to do well and there are few signs that inflation or wages are about to rocket higher, an outcome that could dent corporate profits.

"There's reason to think things are very, very good, but not overheating. That's a great environment for earnings," she said. "The market is getting a little bit spoiled."

The S&P 500 index gained 2.97 points, or 0.1 percent, to 2,669.91. The Dow Jones industrial average lost 11.15 points, or less than 0.1 percent, to 24,311.19. The Nasdaq composite rose 1.12 points to 7,119.80. The Russell 2000 index of smaller-company stocks lost 1.66 points, or 0.1 percent, to 1,556.24. Most of the stocks on the New York Stock Exchange finished higher.

Amazon said its first-quarter profit more than doubled as consumers shopped more online and revenue from its cloud computing business continued to rise. The results were far stronger than Wall Street expected and the stock jumped 3.6 percent to $1,572.62, adding to Thursday's 4 percent gain. Amazon also said it will hike the price of an annual Prime membership to $119 from $99 in the U.S.

Amazon recovered the last of its losses from late March and early April. It slumped after President Donald Trump repeatedly criticized the company over issues including sales tax collection and its contracts with the U.S. Postal Service.

The U.S. economy grew 2.3 percent in the first quarter, better than experts had forecast. While consumer spending turned in the weakest performance in nearly five years, experts think it will pick up later in the year thanks to continued low unemployment and Republican-backed tax cuts.

Bond prices rose again. The yield on the 10-year Treasury note fell to 2.96 percent from 2.98 percent Thursday. It hit four-year highs recently and peaked at 3.03 percent earlier this week. High-yield stocks like household goods makers and utilities moved up.

Even with help from climbing oil prices Exxon Mobil's results still fell short of estimates and its stock dropped 3.8 percent to $77.79. Cable company Charter Communications tumbled 11.7 percent to $263.33. Jefferies & Co. analyst Scott Goldman said the company's residential video and high speed data subscriber totals were both weaker than he expected.

Technology companies also gave up an early gain. Intel rose 5 percent in the morning but later dipped 0.6 percent to $52.73. After a big rally in the morning, Microsoft rose 1.7 percent to $95.82.

The leaders of North and South Korea vowed Friday to seek a nuclear-free peninsula and work toward a formal end to the Korean War this year, although they offered few specifics about how they would achieve those goals. As part of the summit, Kim Jong Un became the first North Korean leader to visit South Korea since 1953, when the two sides signed an armistice that left them still technically at war. Later Kim and South Korean President Moon Jae-in briefly stepped into North Korea together.

Seoul's Kospi was 0.7 percent higher and Tokyo's Nikkei 225 added 0.7 percent. Hong Kong's Hang Seng advanced 0.9 percent.

In Britain, shares got a lift after soft growth data reined in expectations that the Bank of England will raise interest rates again next month. The pound fell sharply, to $1.3785 from $1.3924. That was good news for British exporters, as it makes their goods less expensive, and London's FTSE jumped 1.1 percent. The German DAX rose 0.6 percent and France's CAC 40 added 0.5 percent.

Benchmark U.S. crude fell 0.1 percent to $68.10 a barrel in New York while Brent crude, used to price international oils, fell 0.1 percent to $74.64 per barrel in London.

Wholesale gasoline rose 0.6 percent to $2.13 a gallon. Heating oil lost 0.4 percent to $2.15 a gallon. Natural gas lost 2.4 percent to $2.77 per 1,000 cubic feet.

Gold rose 0.4 percent to $1,323.40 an ounce. Silver fell 0.5 percent to $16.41 an ounce. Copper dropped 2.2 percent to $3.05 a pound.

4361


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## bigdog

https://www.usnews.com/news/busines...gher-in-asia-some-markets-closed-for-holidays

*Stocks Close Lower, as Telecom Companies Weigh on Market*
U.S. stock indexes fall, after a morning burst of buying faded away, as telecommunications companies weigh on the broader market.

By STAN CHOE and KEN SWEET, AP Business Writers

NEW YORK (AP) — U.S. stocks fell moderately on Monday, giving up an early gain, but still ended April higher. It was the first monthly increase for the market since January as company earnings have come in better than many expected.

Indexes jumped in the early going following news of several buyout deals and more strong earnings reports, but sagged after lunchtime, weighed down by losses for telecom stocks and other areas of the market.

The Dow Jones industrial average lost 148.04 points, or 0.6 percent, to 24,163.15. The Standard & Poor's 500 index fell 21.86 points, or 0.8 percent, to 2,648.05 and the Nasdaq composite lost 53.53 points, or 0.8 percent, to 7,066.27.

Dow member McDonald's jumped 5.8 percent to $167.83 after it reported healthier profit and revenue than analysts expected for the first three months of the year. Sales at its restaurants open more than a year were much stronger than Wall Street had forecast

McDonald's joined the wave of companies to report big earnings growth for the first quarter, which has been better than analysts expected. Just over half the companies in the S&P 500 have reported their earnings for the first three months of the year, and they're on pace to deliver overall growth of 23 percent, according to FactSet. That would be the strongest showing since the summer of 2010.

"It's been phenomenal," said Phil Orlando, chief equity market strategist at Federated Investors. "Corporate earnings are doing better. Economic growth is doing better, and I think the market is begrudgingly allowing those numbers to work their way into share prices."

The S&P 500 has been whipping higher and lower in recent months, hurt by worries about higher interest rates and the possibility of a trade war. But the index is ending April up a modest 0.3 percent, compared to the 2.7 percent loss it had in March and 3.9 percent loss it had in February.

At the center of the buyout news was Sprint and T-Mobile. The pair announced a $26.5 billion deal to merge following years of consideration for a combination. Investors are unsure whether this attempt will get the necessary approvals from U.S. regulators.

Sprint dropped 13.7 percent to $5.61, and T-Mobile lost 6.2 percent to $60.51. Other telecom stocks also fell, with Verizon giving up 4.3 percent to $49.35 and AT&T falling 1 percent to $32.70.

Oil company Andeavor was the biggest gainer in the S&P 500 after Marathon Petroleum said it will buy the refiner and pipeline owner for more than $23 billion. Andeavor, which used to be called Tesoro, soared 13 percent to $138.32.

And DCT Industrial Trust, a logistics real-estate company, gained 11.6 percent to $65.57 after Prologis, an owner of distribution centers and other logistics real estate, agreed on Sunday to buy it in an all-stock deal.

Besides being the heart of earnings reporting season for companies, this week will also feature a policy meeting for the Federal Reserve on interest rates. The Fed will announce its decision on Wednesday.

On Friday, the government releases its jobs report, which is usually the most anticipated economic report of each month.

Benchmark U.S. crude rose 47 cents to $68.57 per barrel. Brent crude, the international standard, gained 53 cents to $75.17. The yield on the 10-year Treasury note dipped to 2.94 percent from 2.96 percent late Friday.

The dollar rose to 109.29 Japanese yen from 109.02 yen late Friday. The euro fell to $1.2082 from $1.2121, and the British pound dipped to $1.3748 from $1.3785.

Gold fell $4.20 to $1,319.20 an ounce, silver fell 10 cents to $16.40 an ounce and copper rose less than 1 cent to $3.074 a pound.


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## bigdog

https://www.usnews.com/news/busines...okyo-stocks-higher-in-quiet-labor-day-trading

*Apple Leads Tech Higher as Stocks Recover From an Early Loss*
US stocks recover early losses as Apple leads a rally in technology companies and smaller companies also climb.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks clawed back early losses Tuesday as Apple led a rally in technology companies. Smaller, more domestically-focused companies also climbed. The late push offset a slump in household goods makers and industrial companies.

Stocks fell in the early going as investors focused on trade tensions, a drop in construction, and weaker growth in manufacturing. Steel makers lost ground after the White House said it will delay its decision to impose tariffs on imports of steel and aluminum from the European Union, Canada and Mexico for 30 days. The Dow Jones industrial average fell as much as 354 points, then recovered much of that loss and closed down 64.

Amazon and other consumer-focused companies like Comcast, Hilton and Carnival rose, while banks and health care companies wiped out early losses to finish slightly higher.

Randy Frederick, vice president of trading and derivatives at Charles Schwab, said the that even though companies are reporting great first-quarter results, the market isn't reacting very much. He thinks some people don't want to invest because the market has gone through such huge swings over the last three months.

"It's been the best earnings season we've had in 10 years," he said. "People are starting to sit out. And part of the reason they're sitting out is we're having such high volatility."

The S&P 500 index rose 6.75 points, or 0.3 percent, to 2,654.80. The Dow slipped 64.10 points, or 0.3 percent, to 24,099.05 as Boeing fell along with other industrial companies and McDonald's gave back some of the previous day's gain.

Technology companies surged, sending the Nasdaq composite up 64.44 points, or 0.9 percent, to 7,130.55. The Russell 2000 index of smaller-company stocks added 8.44 points, or 0.5 percent, to 1,550.33.

Apple climbed 2.3 percent to $169.10 in regular trading. Its stock rose 4 percent in aftermarket trading after the company's fiscal second quarter profit surpassed Wall Street's expectations, as did its sales forecast for the current quarter. The company also raised its dividend and said it will buy back $100 billion in stock.

Apple, the most valuable publicly traded U.S. company, has lagged behind peers like Microsoft and Intel as investors worried about the possibility of slowing iPhone sales.

Intel added 3.3 percent to $53.33 and video game maker Electronic Arts rose 1.6 percent to $119.83.

Electronic storage company Seagate Technology plunged 6.4 percent to $54.21 after its fiscal third-quarter report. The stock is still up almost 30 percent this year.

The administration's delay in imposing tariffs sidesteps a potential trade battle with Europe for now, but European Union leaders want a permanent exemption and say the uncertainty caused by delays is bad for business. The announcement comes ahead of the trade talks between U.S. and China later this week.

Industrial companies struggled. Boeing fell 1.2 percent to $329.54 and engine maker Cummins tumbled 4.1 percent to $153.28 after its first-quarter report. Lockheed Martin sagged 3.9 percent to $308.46 as defense contractors continued to struggle.

U.S. manufacturing kept growing in April, but it did so at a slower pace, according to the Institute for Supply Management, a trade group of purchasing managers. Many factories said shortages of workers and skills affected their productivity. Meanwhile the Commerce Department said construction spending fell in March as home building dropped sharply.

Frederick, of Charles Schwab, said investors haven't had to deal with a lot of weak economic data in the last year.

"That's something the market is kind of not used to," he said.

After Mark Zuckerberg said Facebook is developing its own dating feature, shares of Match Group tumbled. The operator of dating apps including Match, OKCupid and Tinder plunged 22.1 percent to $36.71 and its biggest investor and former parent company, IAC/InteractiveCorp, lost 17.8 percent to $133.33.

Pfizer slumped as its first-quarter sales fell short of estimates. The maker of pain medicine Lyrica and the blockbuster Prevnar 13 vaccine against pneumococcal infections said sales of older medicines slipped and its stock lost 3.3 percent to $35.40.

Tapestry, Coach's parent company, lost 11.7 percent to $47.46 as its Kate Spade and Stuart Weitzman brands had a weak first quarter.

Commodities prices fell as the dollar grew stronger. Oil prices gave up some of their recent gains. Benchmark U.S. crude fell 1.9 percent to $67.25 a barrel in New York. Brent crude, the international standard, declined 2.1 percent to $73.13 a barrel in London.

Wholesale gasoline lost 2 percent to $2.09 a gallon and heating oil fell 2.3 percent to $2.10 a gallon. Natural gas rose 1.4 percent to $2.80 per 1,000 cubic feet.

Gold fell 0.9 percent to $1,306.80 an ounce and silver lost 1.7 percent to $16.13 an ounce. Copper dipped 1.2 percent to $3.04 a pound.

Bond prices edged lower. The yield on the 10-year Treasury note rose to 2.97 percent from 2.96 percent. The 10-year yield hit a four-year high last week.

The dollar rose to 109.81 yen from 109.29 yen. The euro fell to $1.1993 from 1.2082.

Britain's FTSE 100 rose 0.1 percent and the Japanese Nikkei 225 rose 0.2 percent. Markets in France and Germany, Hong Kong, Shanghai, Seoul and most cities in Southeast Asia were closed for public holidays.


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## bigdog

https://finance.yahoo.com/m/cf33466..._late-skid-leaves-us-stocks.html?guccounter=1

*Late skid leaves US stocks mostly lower; Apple climbs*




MARLEY JAY
Associated Press May 3, 2018

NEW YORK (AP) — A late slump left U.S. stocks mostly lower on Wednesday as investors appeared to grow more concerned about the possibility of rising interest rates. Apple climbed after a solid quarterly report and a forecast for strong iPhone sales.

Brewer Molson Coors suffered its biggest one-day loss in 13 years after it said the U.S. beer industry got off to a slow start in 2018. Weak results from drugmaker Gilead Sciences and animal health company Zoetis weighed on health care companies. Smaller companies fared better. Apple did a bit better than Wall Street expected in its latest quarter and forecast better sales than investors feared. The tech giant also said it will spend some of its tax savings on a $100 billion stock repurchase.

The Federal Reserve left interest rates unchanged, as investors and analysts expected, and said it expects to keep raising interest rates gradually. The central bank said inflation has approached its 2 percent target, but it didn't suggest it is overly concerned that inflation will strengthen more than that. Major indexes sold off in the last hour of trading. Steve Wood, chief market strategist at Russell Investments, said investors believe the Fed doesn't expect to do much to prop up the economy.

"The Fed views the economy as having improved and inflation has returned to normal," he said. "That environment, in the Fed's opinion, no longer justifies overly accommodative monetary policy."

One of the key debates on Wall Street is whether the Fed will raise rates three times as planned, or if it will raise them four times in response to more signs of inflation and faster economic growth. That question wasn't answered Wednesday and Wood said he thinks a fourth increase is possible.

The S&P 500 index fell 19.13 points, or 0.7 percent, to 2,635.67. The Dow Jones industrial average lost 174.07 points, or 0.7 percent, to 23,924.98. The Nasdaq composite slid 29.81 points, or 0.4 percent, to 7,100.90.

The Russell 2000 index of smaller-company stocks added 4.58 points, or 0.3 percent, to 1,554.92 as smaller technology companies and retailers advanced.

After months of concerns on Wall Street about weak iPhone sales, Apple had a slightly better fiscal second quarter than expected and investors were pleased with its projections for the current quarter as well. It's also giving its shareholders a lot of cash. Apple bought back almost $23 billion in stock in the first three months of the year and will spend another $100 billion on stock repurchases. It's also raising its dividend.

The Republican-backed tax package temporarily lowered the taxes that companies pay when they bring cash stashed overseas back to the U.S., which encouraged companies like Apple to bring that cash back to the U.S. Apple stock climbed 4.4 percent to $176.57.

The bond market had little reaction to the Fed's statement and bond prices were little changed. The yield on the 10-year Treasury note remained at 2.97 percent. The dollar weakened and fell to 109.73 yen from 109.81 yen. The euro fell to $1.1988 from $1.1993.

Molson Coors Brewing said cold weather may have prompted consumers to cut back on their drinking. The company's results fell short of analyst projections and it also said sales to wholesalers declined. Its stock shed 15.4 percent to $60.64. Coca-Cola and Pepsi continued to fall, with Coke down 1.2 percent to $42.06 and Pepsi sliding 1.9 percent to $97.23.

Xerox's CEO and most of its board will resign as investors Carl Icahn and Darwin Deason push the company to stop its sale to longtime partner Fujifilm. The duo called for Jacobson to resign in late January, shortly before Xerox announced a deal that will result in Fujifilm taking majority control of Xerox. Jacobson and five other directors are being replaced. Xerox said the new board will reconsider the deal with Fujifilm and could terminate or restructure Xerox's relationship with the company.

Xerox shares fell 9 percent to $29.38.

Snap skidded 21.9 percent to $11.03 after its first-quarter revenue fell far short of estimates. The company said its redesign, which some users have slammed, was one of the reasons for the slip.

After posting its highest growth in a decade during 2017, economic growth in the 19-country eurozone slowed a bit in the first quarter, largely because of temporary factors such as cold weather. Despite the slowdown, growth was higher than the equivalent in the U.S.

The DAX in Germany soared 1.5 percent and the French CAC 40 picked up 0.2 percent. In Britain the FTSE 100 rose 0.3 percent.

Benchmark U.S. crude jumped 1 percent to $67.93 a barrel in New York, while Brent crude, the international standard, rose 0.3 percent to $73.36 per barrel in London.

Wholesale gasoline lost 0.4 percent to $2.08 a gallon. Heating oil rose 1 percent to $2.12 a gallon. Natural gas fell 1.7 percent to $2.75 per 1,000 cubic feet.

Gold fell 0.1 percent to $1,305.70 an ounce. Silver jumped 1.5 percent to $16.38 an ounce. Copper added 1 percent to $3.07 a pound.

Japan's Nikkei 225 slipped 0.2 percent and the Hang Seng in Hong Kong lost 0.3 percent. South Korea's Kospi gave up 0.4 percent.


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## bigdog

http://gazette.com/late-buying-drive-erases-much-of-an-early-loss-for-stocks/article/feed/561912

* Late buying drive erases much of an early loss for stocks *
By: MARLEY JAY, Associated Press
May 3, 2018

NEW YORK (AP) — Losses for health care companies and banks left U.S. stocks lower Thursday, although a late push for technology and industrial companies helped the market avoid a steeper decline.

After a weak finish the day before, the Dow Jones industrial average dropped as much as 393 points Thursday morning. Thanks to another gain in Boeing, it ended slightly higher.

Companies including insurer AIG, prescription drug distributor Cardinal Health, and music streaming service Spotify suffered big losses. Banks declined along with interest rates.

Electric car maker Tesla fell after it reported another big loss and CEO Elon Musk mocked some questions from analysts during the company's conference call.

Microsoft and Cisco Systems helped technology companies to some modest gains. But investors haven't found much to get excited about the last couple of days as they worry about trade tensions and the possibility that growth in company profits has peaked.

"Investors went from being very optimistic to being more concerned about what could happen next," said Kate Warne, investment strategist for Edward Jones. "People are getting far ahead of themselves."

The S&P 500 index slid 5.94 points, or 0.2 percent, to 2,629.73. The Dow rose 5.17 points to 23,390.15. The Nasdaq composite lost 12.75 points, or 0.2 percent, to 7,088.15. The Russell 2000 index of smaller-company stocks fell 8.36 points, or 0.5 percent, to 1,546.56.

About three-fourths of S&P 500 companies had reported results as of Wednesday, according to CFRA Research, and their profits and revenues have consistently blown past Wall Street's expectations. But the market isn't acting like it: since April 12, the day before big banks started reporting their results, the S&P 500 is down 1.3 percent.

"Investors looked for any and all reasons to sell the results," wrote Lindsey Bell, investment strategist for CFRA Research. In a note to clients, Bell said that Caterpillar "crushed all hopes" that stocks would rise following earnings. The construction equipment maker said it doesn't expect to top its first-quarter profit for the rest of the year.

The possibility that earnings growth was at its peak didn't appear to be on investors' minds until the comments from Caterpillar executives last week. Rising costs are one challenge companies are facing, and that could be in focus again Friday after the government releases its report on job creation and wage growth.

Warne, of Edward Jones, said she still expects stocks to rise this year because of continued economic and profit growth. But she said it might take weeks or even months before that happens.

Banks fell in tandem with interest rates as bond prices climbed. The yield on the 10-year Treasury note fell to 2.95 percent from 2.97 percent. Lower bond yields mean banks can't make as much money from lending.

Cardinal Health, which distributes prescription drugs, also had a smaller-than-expected profit and slashed its forecast for the rest of the year. Cardinal said its Cordis cardiovascular products business ran into supply chain problems and also paid a higher expected tax rate. The stock gave up 21.4 percent to $50.80.

Medical device maker Hologic dropped 6.9 percent to $36.91 after it wrote down the value of its Cynosure business by about $732 million. It paid $1.57 billion to buy the company a little more than a year ago.

Tensions between the U.S. and China have also taken investors' attention away from earnings. Chinese and U.S. officials met face-to-face in Beijing Thursday in an attempt to resolve a dispute over technology that has taken the world's two largest economies the closest they've ever come to a trade war. Analysts felt the two sides aren't likely to have a big breakthrough in the two-day meeting.

Tesla tumbled 5.5 percent to $284.45 after the electric car maker took another big loss as it struggles to produce its lower-cost Model 3 sedan. Some experts are wondering if Tesla will be able to pay all of its bills because of the repeated losses.

Musk appeared to make matters worse on the company's conference call, as he dismissed questions about the company's cash needs as "boring, boneheaded" and "not cool." After being asked about reservations for the Model 3, he said the subject matter was "killing me." JPMorgan Chase analyst Ryan Brinkman said the call was "truly bizarre."

Benchmark U.S. crude recovered from an early loss and rose 0.7 percent to $68.43 barrel in New York. That was its highest price since December 2014. Brent crude, the international standard, rose 0.4 percent to $73.62 a barrel in London.

Wholesale gasoline picked up 0.4 percent to $2.09 a gallon. Heating oil slipped 0.4 percent to $2.11 a gallon. Natural gas lost 1 percent to $2.73 per 1,000 cubic feet.

Gold rose 0.5 percent to $1,312.70 an ounce. Silver added 0.4 percent to $16.45 an ounce. Copper gained 0.4 percent to $3.08 a pound.

The dollar fell to 109.17 yen from 109.73 yen. The euro rose to $1.1993 from $1.1988.

Germany's DAX fell 0.9 percent and Frances CAC 40 shed 0.5 percent. The British FTSE 100 dipped 0.5 percent. Hong Kong's benchmark Hang Seng index dropped 1.2 percent and South Korea's Kospi dipped 0.7 percent. Japanese markets were closed for a holiday.


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## bigdog

Markets in Japan remained closed for a public holiday.






https://www.usnews.com/news/busines...-markets-lower-as-investors-watch-trade-talks

*Stocks Jump, With Buffett Helping Apple to New Highs*
US stocks rise, with Apple leading a rally in technology companies after Warren Buffett said his company bought more shares in the iPhone maker.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks made up for a shaky week with a strong finish Friday as Apple led a rally in technology companies. The tech giant hit an all-time high after Warren Buffett said he'd made another big investment.

Stocks got off to a mixed start after trade talks between the U.S. and China ended with few signs of progress. The April jobs report showed that hiring continued at a solid clip and wages continued to grow at a slow pace. Apple surged after Buffett said Berkshire Hathaway bought 75 million shares during the first quarter.

Alphabet, Cisco Systems and other technology companies rose, and retailers, banks, and household goods makers also rallied. Investors also cheered strong first-quarter results from companies including Shake Shack and Activision Blizzard.

"We went into this earnings season with very high expectations," said Quincy Krosby, chief markets strategist for Prudential Financial. "When you go in with such high expectations, you expect near perfection."

The S&P 500 index climbed 33.69 points, or 1.3 percent, to 2,663.42. The Dow Jones industrial average rose 332.36 points, or 1.4 percent, to 24,262.51. The Nasdaq composite jumped 121.47 points, or 1.7 percent, to 7,209.62. The Russell 2000 index of smaller-company stocks gained 19.05 points, or 1.2 percent, to 1,565.60.

Overall, stocks have taken small losses in choppy trading over the last two weeks. But for Apple, this was the best week in six and a half years.

Apple rose 3.9 percent to $183.83 after Warren Buffett told CNBC his company boosted its investment in Apple to more than 240 million shares altogether. Buffett told CNBC about the purchase ahead of Berkshire Hathaway's annual meeting this weekend. Berkshire stock rose 2.1 percent to $195.64.

Apple climbed 13.3 percent for the week after it reported solid quarterly results and investors were pleased with its forecast of solid iPhone sales, which came as a relief. It also raised its dividend and announced a big stock repurchase.

Companies have done well in the first quarter, but stocks haven't necessarily followed suit as investors worried about the U.S.-China trade spat, rising interest rates, and other issues. But on Friday investors responded.

After better-than-expected reports, burger chain Shake Shack surged 18 percent to $55.95 while music streaming company Pandora Media advanced 19.8 percent to $6.89. Video game maker Activision Blizzard gained 4.5 percent to $69.84. The stock had dipped Thursday afternoon after Activision's results were released early.

U.S. employers stepped up hiring modestly in April, and the hiring estimate from March was revised higher. That's evident the economy remains resilient even though some businesses are concerned about a possible trade war. While many employers say it's difficult to find qualified workers, they have yet to significantly boost pay in most industries, a trend that continued last month.

"That may not be good for Main Street, but it's what Wall Street wanted to see," said Krosby, of Prudential.

The Trump administration asked China to reduce its trade deficit with the U.S. by $200 billion by the end of 2020, striking an assertive stance in talks aimed at averting a trade war between the world's largest economies. It also wants China to immediately stop providing subsidies to certain industries listed in a key industrial plan and end some of its policies related to technology transfers, a key source of tension underlying the dispute. While the trade tensions have rattled investors, many market watchers think the two sides will eventually come to a deal that doesn't disrupt trade much.

Engineering and construction company Fluor plunged after it slashed its profit forecast because a gas-fired power project suffered "continued challenges." The company took an unexpected loss in the first quarter and now expects a profit of $2.10 to $2.50 per share for the year, down from 2$3.10 to $3.50 per share. The stock dropped 22.4 percent to $45.76.

Bond prices rose early, but later gave up that gain. The yield on the 2-year Treasury note rose to 2.49 percent from 2.48 percent. The yield on the 10-year Treasury note remained at 2.95 percent. That helped banks recover from an early loss. Lower bond yields mean lower rates for mortgages and other types of loans, which reduces profits for banks. Companies that pay big dividends didn't rise as much as the rest of the market.

Benchmark U.S. crude rose 1.9 percent to $69.72 per barrel in New York. Brent crude, the international standard, gained 1.7 percent to $74.87 per barrel in London.

Wholesale gasoline jumped 1.3 percent to $2.11 a gallon. Heating oil climbed 2 percent to $2.15 a gallon. Natural gas lost 0.6 percent to $2.71 per 1,000 cubic feet.

Gold gained 0.2 percent to $1,314.70 an ounce. Silver added 0.4 percent to $16.52 an ounce. Copper rose 0.2 percent to $3.09 a pound.

The dollar fell to 109.11 yen from 109.73 yen. The euro fell to $1.1962 from $1.1993.

Britain's FTSE 100 rose 0.9 percent and the DAX in Germany added 1 percent. France's CAC 40 gained 0.3 percent. The South Korean Kospi sank 1 percent and Hong Kong's Hang Seng index lost 1.3 percent. Markets in Japan remained closed for a public holiday.

4619


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## bigdog

https://www.usnews.com/news/busines...rise-tracking-wall-street-gains-on-job-report

*US Stocks Close Modestly Higher, Add to Gains From Last Week*
U.S. stocks closed modestly higher Monday, extending the market's gains from last week.

By ALEX VEIGA, AP Business Writer

U.S. stocks closed modestly higher Monday, extending the market's gains from last week.

Technology companies and banks accounted for much of the latest gains, outweighing losses among beverage makers and other consumer goods companies.

Energy stocks got a boost from U.S. crude oil prices, which closed above $70 a barrel for the first time since November 2014.

"Geopolitical risk has cooled a little bit and economic data, even if it isn't accelerating as fast as it was a month ago, is still accelerating," said Karyn Cavanaugh, senior markets strategist at Voya Investment Management. "The last couple of days are showing that investors are getting their sea legs back."

The S&P 500 index rose 9.21 points, or 0.3 percent, to 2,672.63. The Dow Jones industrial average gained 94.81 points, or 0.4 percent, to 24,357.32. The Nasdaq added 55.60 points, or 0.8 percent, to 7,265.21. The Russell 2000 index of smaller-company stocks picked up 13.34 points, or 0.9 percent, to 1,578.95.

Trading got off to a solid start early Monday, as investors weighed the big move in energy futures.

Crude oil prices have been rising as investors weigh heightened geopolitical risks in the Middle East, a push by OPEC to slash oil production and strong worldwide demand amid a global economic expansion.

On Monday, oil futures climbed to their highest level since November 2014 as a May 12 deadline approached for the U.S. to decide whether to remain in the nuclear agreement with Iran.

Benchmark U.S. crude rose $1.01, or 1.4 percent, to settle at $70.73 a barrel in New York. Brent crude, the international standard, gained $1.30, or 1.7 percent, to close at $76.17 a barrel in London.

The pickup in oil prices helped lift energy company shares. Range Resources rose 3.7 percent to $14.12.

"Concern about Iran has oil up, taking energy stocks up and helping out the whole market," said Erik Davidson, chief investment officer at Wells Fargo Private Bank.

Technology companies accounted for a big slice of the S&P 500's gains. Nvidia led the sector, rising 4 percent to $248.68. Financial sector stocks also racked up solid gains. Morgan Stanley added 1.9 percent to $52.39. Walgreens Boots Alliance slumped 2.4 percent to $62.30, the biggest decliner in the sector that includes food, beverage and other consumer goods companies.

After a couple of weeks of choppy trading, the market got a strong boost Friday from government data showing hiring continued at a solid clip in April, the latest evidence that the U.S. economy remains resilient despite some jitters about a possible trade war.

Corporate earnings, meanwhile, have also been a source of good news for investors.

Roughly 80 percent of the companies in the S&P 500 have reported results so far this earnings season, and some 62 percent of those have delivered both earnings and revenue that exceeded financial analysts' expectations, according to S&P Global Market Intelligence.

"The market doesn't seem quite as skeptical about the future prospects as maybe it was a couple of weeks ago," Davidson said.

Sysco added 1.9 percent to $63.48 after the food distributor reported earnings for its latest quarter that came in ahead of what analysts were expecting. Cognizant Technology Solutions slid 5.2 percent to $77.86 after the information technology consulting firm's earnings outlook for the current quarter was below analysts' forecasts.

Investors also had their eye on the latest company deal news.

Starbucks slipped 0.4 percent to $57.45 after Nestle paid $7.15 billion for the rights to sell the company's coffee products around the world. Nestle gained 1.4 percent to $77.35.

Shares in athenahealth vaulted 16.4 percent to $146.75 on news that Elliott Management has made a bid to acquire the medical software and services company. Gramercy Property Trust jumped 15.4 percent to $27.50 after Blackstone Group offered to buy the commercial real estate owner in a deal valued at around $7.6 billion.

Bond prices were little changed. The yield on the 10-year Treasury held at 2.95 percent.

The dollar fell to 109.06 yen from 109.11 yen on Friday. The euro weakened to $1.1923 from $1.1962.

Gold slipped 60 cents to $1,314.10 an ounce. Silver dropped 2 cents to $16.50 an ounce. Copper lost a penny to $3.08 a pound.

In other energy futures trading, heating oil rose 3 cents to $2.19 a gallon. Wholesale gasoline added 2 cents to $2.13 a gallon. Natural gas picked up 3 cents to $2.74 per 1,000 cubic feet.

Major stock indexes in Europe closed higher. Germany's DAX added 1 percent, while the CAC 40 in France rose 0.3 percent. British stock markets were closed for a public holiday.

Earlier in Asia, Japan's benchmark Nikkei 225 index dipped less than 0.1 percent. Hong Kong's Hang Seng index rose 0.2 percent. Australia's S&P/ASX 200 added 0.4 percent. Taiwan's benchmark rose, but Southeast Asian indexes finished mostly lower. *South Korean markets were closed for a holiday.*


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## bigdog

https://www.usnews.com/news/busines...-advance-as-china-reports-recovery-in-exports

*US Stocks End Mixed; Oil Falls on US Pullout From Iran Deal*
The major U.S. stock indexes partially recovered from a daylong slide in the final minutes of trading Tuesday to finish essentially flat.

By ALEX VEIGA, AP Business Writer

The major U.S. stock indexes partially recovered from a daylong slide in the final minutes of trading Tuesday to finish essentially flat.

The indexes had been drifting slightly lower as investors weighed the Trump administration's decision to withdraw from a 2015 nuclear deal with Iran and reinstate sanctions on the country.

The policy change, announced in an afternoon speech by President Donald Trump, had been largely expected by traders, who sent crude oil prices sliding more than 2 percent a day after crude reached above $70 a barrel for the first time in more than three years.

Health care, utilities and consumer-goods companies were among the biggest decliners. Banks, technology stocks and industrials posted gains. Energy sector companies also eked out a gain after being in a slump much of the day on lower oil prices.

"At least for the moment the movement in oil is moderate and seems to be more or less what the market was expecting," said Phil Guarco, global investment specialist, J.P. Morgan Private Bank. "While this is big news, it is not something that the market hadn't already priced in. Now we have to see what the reactions are."

The S&P 500 index dipped 0.71 points, or 0.03 percent, to 2,671.92. The lower close snapped a two-day winning streak for the broad market index. The Dow Jones industrial average gained 2.89 points, or 0.01 percent, to 24,360.21. The Nasdaq rose 1.69 points, or 0.02 percent, to 7,266.90.

Smaller companies fared better than the rest of the market. The Russell 2000 index of smaller-company stocks picked up 7.44 points, or 0.5 percent, to 1,586.39.

The major stock indexes spent much of the day in the red and oil prices slumped as investors awaited Trump's announcement on the U.S.-Iran policy.

In televised remarks, Trump said that the United States was withdrawing from the Iran nuclear deal, which he called "defective at its core." The move reinstalls sanctions on the Iranian regime. The 2015 agreement required Iran to curb its nuclear enrichment program in exchange for relief from international sanctions.

After Trump's remarks, oil prices pared some of their earlier losses. Benchmark U.S. crude oil fell $1.67, or 2.4 percent, to $69.06 per barrel in New York. Uncertainty over whether the U.S. would pull out of the Iran pact helped lift the price of crude on Monday above $70 a barrel for the first time since November 2014.

On Tuesday, Brent crude, which is used to price international oils, lost $1.32, or 1.7 percent, to $74.85 per barrel in London.

So why didn't prices keep climbing Tuesday?

"It's all really in the expectations," Guarco said. "The market was pricing in something even more aggressive. Still, things are very fluid and oil markets could turn on a dime if it seemed that the potential for a supply disruption got meaningfully larger."

Energy stocks mostly reversed an early tumble. Marathon Oil led the gainers, rising 3.4 percent to $20.44.

Several companies, including Airbus, Boeing and Total, that have struck business deals in Iran and could be looking for exemptions from U.S. sanctions, finished slightly lower. Boeing fell 0.6 percent to $338.37, while Total dipped 0.5 percent to $61.67.

Corporate deal news also helped move the market Tuesday.

Shire rose 4.6 percent to $40.35 after the Ireland-based pharmaceutical company agreed to be acquired by Japanese drugmaker Takeda in a deal worth $62.4 billion. Shares in Takeda slipped 0.1 percent to $20.98.

Comcast fell 5.6 percent to $30.59 after Reuters reported that the company wants to make a new offer for the entertainment businesses that Twenty-First Century Fox agreed to sell to Disney. Shares in Fox slipped 0.1 percent to $37.99. Disney slid 0.7 percent to $101.79.

Xcerra gained 3.1 percent to $13.24 after the semiconductor equipment testing company accepted a cash and stock offer valued at $764.4 million from competitor Cohu. Shares in Cohu tumbled 6.3 percent to $21.87.

Bond prices fell. The yield on the 10-year Treasury rose to 2.97 percent from 2.95 percent late Monday. The rise in yields pushed up interest rates, which allows banks to make more money from loans. That helped drive financial sector stocks higher. Capital One Financial rose 1.4 percent to $90.18.

The dollar fell to 109.02 yen from 109.06 yen on Monday. The euro weakened to $1.1858 from $1.1923.

Gold dipped 40 cents to $1,313.70 an ounce. Silver dropped 2 cents to $16.47 an ounce. Copper lost 2 cents to $3.06 a pound.

In other energy futures trading, heating oil fell 3 cents to $2.16 a gallon. Wholesale gasoline lost 2 cents to $2.11 a gallon. Natural gas gave up a penny to $2.73 per 1,000 cubic feet.

Major indexes in Europe finished mostly lower. Germany's DAX dropped 0.3 percent while the CAC 40 in France lost 0.2 percent. Britain's FTSE 100 was flat.

Markets in Asia ended mixed. Japan's Nikkei 225 stock index added 0.2 percent and Hong Kong's Hang Seng index climbed 1.4 percent. South Korea's Kospi gave up early gains to lose 0.5 percent. Shares rose higher in Singapore and Taiwan, but fell 1.9 percent in Indonesia after the government reported economic growth slowed in January-March.


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## bigdog

https://www.usnews.com/news/busines...ts-track-wall-street-gains-oil-prices-advance

BY ALEX VEIGA, AP Business Writer

A broad rally drove U.S. stocks solidly higher Thursday for the second day in a row, extending the market's gains for the week.

Technology companies, which have led the market this year, contributed the most to the rally. Health care stocks and banks also accounted for a big slice of the market's gains as investors sized up the latest company earnings and economic news. Crude oil prices rebounded after an early slide.

The S&P 500 index rose 25.28 points, or 0.9 percent, to 2,723.07. The Dow Jones industrial average climbed 196.99 points, or 0.8 percent, to 24,739.53. The gain turned the Dow back to positive for the year.

The Nasdaq added 65.07 points, or 0.9 percent, to 7,404.97.

Smaller-company stocks continued to post solid gains. The Russell 2000 index of smaller-company stocks picked up 7.66 points, or 0.5 percent, to 1,603.71. That's the highest close for the index since January.

"They've had a good couple of months," said Tom Martin, senior portfolio manager with Globalt Investments. "The dollar really strengthened here up until the last couple of days, and that is benefiting those smaller-cap companies."

The major indexes were moving higher from the get-go Thursday as investors sifted through the latest measure of inflation in the economy.

The Labor Department said that U.S. consumer prices rose a modest 0.2 percent in April, a sign that broader inflation pressure remains muted. Excluding the volatile food and energy categories, core prices ticked up just 0.1 percent last month and 2.1 percent from April last year.

Slower growth in core prices may mean that the Federal Reserve will be less inclined to accelerate interest rate hikes. The Fed has signaled they will lift rates twice more this year, following an increase in March. Some expect that an uptick in inflation or economic growth might spur the Fed to add a third hike.

"It tells us that rates are going to continue to go higher, but maybe it starts to call into question: Are we really going to have four? Maybe three is enough," said Bob Doll, chief equity strategist at Nuveen Asset Management.

Bond investors appeared to interpret the consumer prices data as a sign that the Fed is not likely to speed up the pace of its planned rate hikes. Bond prices rose, pulling the yield on the 10-year Treasury note down to 2.96 percent from 3 percent late Wednesday.

Technology stocks extended their gains. The sector is up 11.1 percent this year, ahead of all others.

On Thursday, Qualcomm led the sector, climbing 3.4 percent to $54.97 after the company's board approved a $10 billion share buyback.

Envision Healthcare was the biggest gainer among health care stocks. The company added 5 percent to $42.74. Cardinal Health also moved higher, adding 3.8 percent to $54.74 after The Wall Street Journal reported that experts think the Trump administration's plan to reduce drug prices won't have a big effect on costs.

Traders also had their eye on corporate earnings Thursday.

CenturyLink jumped 7.5 percent to $19.40 after the telecom company reported earnings that were much higher than analysts were expecting.

Booking Holdings slid 4.7 percent to $2,080.02 after its latest quarterly report card disappointed traders.

L Brands slumped 7.2 percent to $31.68 after the retailer said it expects to only reach the low end of its first-quarter profit forecast.

Benchmark U.S. crude oil reversed an early slide. It rose 22 cents to settle at $71.36 a barrel in New York. Brent crude, used to price international oils, gained 26 cents to close at $77.47 per barrel.

The dollar fell to 109.37 yen from 109.72 yen on Wednesday. The euro strengthened to $1.1927 from $1.1861. The pound weakened to $1.3519 from $1.3555 after the Bank of England held off raising interest rates due to weaker economic growth so far this year.

Gold rose $9.30 to $1,322.30 an ounce. Silver gained 22 cents to $16.76 an ounce. Copper picked up 5 cents to $3.11 a pound.

In other energy futures trading, heating oil was little changed at $2.22 a gallon. Wholesale gasoline added 3 cents to $2.19 a gallon. Natural gas gained 8 cents to $2.81 per 1,000 cubic feet.

Major indexes in Europe finished higher Thursday. Germany's DAX rose 0.6 percent and France's CAC 40 added 0.2 percent. Britain's FTSE 100 gained 0.5 percent.

Earlier in Asia, Japan's benchmark Nikkei 225 rose 0.4 percent. South Korea's Kospi added 0.8 percent. Hong Kong's Hang Seng gained nearly 1.0 percent.


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## bigdog

https://www.usnews.com/news/busines...lly-as-modest-inflation-eases-rate-hike-fears

*S&P 500 Index Has Its Best Weekly Gain Since Early March*
Major U.S. stock indexes ended mostly higher as the market closed out its biggest weekly gain since March. Health care stocks led the gains.

By ALEX VEIGA, AP Business Writer

U.S. stock indexes ended mostly higher Friday as the market closed out its biggest weekly gain since March.

Drug makers and other health companies climbed after investors sized up President Donald Trump's latest plans to rein in drug prices and concluded any policy changes didn't pose immediate threats to health care company profits.

"All of this will have to go through a year-plus regulatory process, and none of it will have immediate impact," Terry Haines, macro research analyst at Evercore ISI, wrote in a research note Friday. "Thus our market positive view today."

The health sector's gains outweighed losses in technology stocks, phone companies and banks.

All told, the S&P 500 index added 4.65 points, or 0.2 percent, to 2,727.72. The benchmark index had its best weekly gain since early March with an increase of 2.4 percent.

The Dow Jones industrial average climbed 91.64 points, or 0.4 percent, to 24,831.17. The Nasdaq composite fell 2.09 points, or 0.03 percent, to 7,402.88. The Russell 2000 index of smaller-company stocks rose 3.08 points, or 0.2 percent, to 1,606.79.

For the week, the Dow notched a gain of 2.3 percent, while the Nasdaq finished 2.7 percent higher. The Russell 2000 picked up a gain of 2.6 percent.

Trading was choppy for much of the day as investors waited for the Trump administration to release details of its plan to control drug prices. After Trump began discussing the broad goals of his plan Friday afternoon, health care sector stocks mostly moved higher.

Regeneron Pharmaceuticals jumped 6.2 percent to $306.94 and CVS Health gained 3.2 percent to $64.41. Biogen added 3.1 percent to $282.39.

"Trump had a choice today: To seek disruptive fundamental reform or to embrace more incremental steps," Haines wrote. "Trump chose the incremental over the disruptive, which is the decisive factor for markets today."

Technology stocks, which are up 10.8 percent this year, outgaining all other sectors in the S&P 500, were among the biggest decliners Friday.

Symantec slumped 33.1 percent to $19.52 after the security software company revealed an internal investigation that could delay its annual report. The company also said the matter has been referred to the Securities and Exchange Commission. Symantec also gave weak profit forecasts.

Chipmaker Nvidia reported solid quarterly results, but shed some of its recent gains, sliding 2.2 percent to $254.53.

Investors continued to key in on the latest corporate earnings and outlooks.

Trade Desk vaulted 43.4 percent to $75.61 after the digital advertising platform company raised its annual forecasts after a strong first quarter.

Yelp fell 7.8 percent to $44.02 after the online review portal gave an outlook for its current quarter fell short of analysts' expectations.

TiVo slid 1.2 percent to $13.88 after the digital video recording company took a bigger-than-expected loss and reported weak revenue.

Despite the rash of disappointing company report cards, corporate earnings have been a source of good news for investors in recent weeks.

Roughly 90 percent of the companies in the S&P 500 have reported results so far this earnings season, and some 62 percent of those have delivered both earnings and revenue that exceeded financial analysts' expectations, according to S&P Global Market Intelligence.

Walmart, Home Depot and other retailers are due to report quarterly results next week.

"The market is looking forward to the next ingredient that's going to push it up or down as you get through earnings," Jeff Zipper, managing director at U.S. Bank Private Wealth Management.

Benchmark U.S. crude oil fell 66 cents to settle at $70.70 a barrel in New York. Brent crude, used to price international oils, lost 35 cents to close at $77.12. Oil futures have remained near their highest level since 2014 this week following the Trump administration's decision to re-impose sanctions Iran, the world's fifth-biggest oil producer.

Bond prices fell. The yield on the 10-year Treasury rose 2.97 percent from 2.96 percent late Thursday.

The dollar fell to 109.30 yen from 109.37 yen on Thursday. The euro strengthened to $1.1945 from $1.1927.

Gold fell $1.60 to $1,320.70 an ounce. Silver dropped 1 cent to $16.75 an ounce. Copper was little changed at $3.11 a pound.

In other energy futures trading, heating oil was little changed at $2.22 a gallon. Wholesale gasoline also held steady at $2.19 a gallon. Natural gas slipped a penny to $2.80 per 1,000 cubic feet.

European stock indexes finished mostly lower Friday after a strong rally saw many indexes strike multi-week highs. Germany's DAX fell 0.2 percent and France's CAC 40 slid 0.1 percent. Britain's FTSE 100 gained 0.3 percent. Earlier in Asia, Japan's benchmark Nikkei 225 rose 1.2 percent and South Korea's Kospi added 0.6 percent. Hong Kong's Hang Seng jumped 1.0 percent.

4874


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## bigdog

https://www.usnews.com/news/busines...s-mixed-hong-kong-jumps-as-trump-softens-tone

*US Stock Indexes Eke Out Small Gains After Early Rally Fades*
The major U.S. stock indexes eked out tiny gains after a late-afternoon pullback weighed on small-company shares.

By ALEX VEIGA, AP Business Writer

The major U.S. stock indexes eked out small gains Monday after a late-afternoon pullback weighed on small-company shares.

The market had been broadly higher earlier in the day on hopes that trade tensions were easing between the U.S. and China. But much of that rally faded, leaving decliners on the New York Stock Exchange outnumbering risers.

Gains by health care and energy stocks outweighed losses in real estate companies and other decliners. Casino operators and equipment companies got a boost from a Supreme Court decision that cleared the way for states to legalize sports betting.

The S&P 500 index added 2.41 points, or 0.1 percent, to 2,730.13. The Dow Jones industrial average climbed 68.24 points, or 0.3 percent, to 24,899.41. The Nasdaq composite rose 8.43 points, or 0.1 percent, to 7,411.32.

Small-company stocks fell. The Russell 2000 index lost its early gains, sliding 6.45 points, or 0.4 percent, to 1,600.34.

The major stock indexes' latest gains add to the market's solid run this month. The S&P 500, the benchmark for the broader stock market, had its best weekly gain since early March last week.

The indexes got off to a strong start Monday, as investors hoped for reduced trade tensions between the U.S. and China after President Donald Trump tweeted over the weekend that he would help Chinese telecommunications company ZTE get "back into business."

ZTE's Hong Kong-traded shares have been suspended since U.S. authorities banned it last month for seven years from importing U.S. components in a case involving illegal exports to North Korea and Iran. But Trump said too many jobs in China are at stake after the U.S. government sanctions cut off access to ZTE's American suppliers.

China's foreign ministry responded by saying it "highly commended" the move, ahead of trade talks in Washington this week.

Fears of retaliatory tariffs and other trade disruptions roiled the market earlier this spring before the latest raft of company earnings captured investors' focus. The president's tweet about ZTE may be a sign that U.S.-China trade negotiations are relatively constructive, if not friendly, said Brian Nick, chief investment strategist at Nuveen Asset Management.

"If you have concessions being made like that on one or both sides it probably means that the worst-case outcome is less likely, which would be a good thing for stocks," Nick said. "In general the market probably overreacted to the trade-related noise that started popping up around March 1. There was this sense that we might get this worst-case-scenario trade war and that seemed to be priced in relatively quickly, and we're starting to see it priced out of equity valuations now."

U.S. companies that would stand to benefit from an effort to rescue ZTE moved higher Monday. Acacia Communications jumped 8.7 percent to $34.25, while Oclaro gained 2.9 percent to $8.82.

Qualcomm and NXP Semiconductors also got a boost as investors banked that Chinese regulators will reverse their stance and approve Qualcomm's proposed $44 billion acquisition of NXP. China is the final major government withholding approval of the deal, but Bloomberg News reported that Chinese regulators are reviewing the deal again.

Qualcomm rose 2.7 percent to $56.74, while NXP surged 11.8 percent to $110.74.

Investors continued to bid up shares in health care companies. CVS Health gained 3.7 percent to $66.82.

Casino operators and equipment makers surged after the Supreme Court struck down a federal law that barred gambling on football, basketball and other sporting events in most states. The 6-3 decision gives states the go-ahead to legalize sports betting.

MGM Resorts rose 1.6 percent to $32.32. Penn National Gaming climbed 4.7 percent to $33.75, while Empire Resorts jumped 15.7 percent to $22.50. Scientific Gaming, which makes casino and interactive games as well as lottery games, vaulted 11.2 percent to $59.30.

Viacom tumbled 4.9 percent to $28.74 after CBS sued its controlling shareholder, seeking to block efforts to make the company combine with Viacom. CBS added 2.2 percent to $53.65.

Xerox slid 4.3 percent to $28.87 after the copier maker ended merger talks with Fujifilm and resolved a dispute with investors Carl Icahn and Darwin Deason.

Benchmark U.S. crude oil rose 26 cents to settle at $70.96 a barrel in New York. Brent crude, used to price international oils, gained $1.11, or 1.4 percent, to $78.23 a barrel in London.

Rising oil prices helped lift energy stocks. Range Resources added 3.3 percent to $14.76.

Bond prices fell. The yield on the 10-year Treasury rose to 2.99 percent from 2.97 percent late Friday.

The dollar rose to 109.66 yen from 109.30 yen on Friday. The euro weakened to $1.1944 from $1.1945.

Gold fell $2.50 to $1,318.20 an ounce. Silver dropped 11 cents to $16.65 an ounce. Copper slipped 2 cents to $3.09 a pound.

In other energy futures trading, heating oil rose 3 cents to $2.25 a gallon. Wholesale gasoline added a penny to $2.20 a gallon. Natural gas gained 4 cents to $2.84 per 1,000 cubic feet.

Major stock indexes in Europe finished lower. Germany's DAX lost 0.2 percent, while France's CAC 40 dipped 0.02 percent. Britain's FTSE 100 slid 0.2 percent. In Asia, Japan's benchmark Nikkei 225 closed 0.5 percent higher. South Korea's Kospi dipped 0.1 percent. Hong Kong's Hang Seng jumped 1.4 percent.


----------



## bigdog

https://www.usnews.com/news/busines...sian-stocks-most-lower-amid-trade-uncertainty

*Tech and Health Care Lead US Stocks Lower; Bond Yields Rise*
Losses in technology and health care companies helped pull U.S. stocks lower, snapping an eight-day winning streak by the Dow Jones industrial average.

By ALEX VEIGA, AP Business Writer

Losses in technology and health care companies helped pull U.S. stocks lower Tuesday, snapping an eight-day winning streak by the Dow Jones industrial average.

The broad sell-off followed a slide in bond prices, which sent the 10-year Treasury yield to its highest level in almost seven years. That paves the way for higher borrowing costs on mortgages and other loans.

The prospect of higher mortgage interest rates weighed on homebuilders, while the rise in bond yields sent shares in high-dividend paying stocks lower.

"We're of the view that we're not in a high-rate environment, we're in a less-low rate environment," said Erik Davidson, chief investment officer at Wells Fargo Private Bank. "So we're not too concerned at these levels, but that's definitely driving the market today."

The S&P 500 index fell 18.68 points, or 0.7 percent, to 2,711.45. The Dow lost 193 points, or 0.8 percent, to 24,706.41. The drop pulled the 30-company average to a slight loss for the year.

The Nasdaq composite dropped 59.69 points, or 0.8 percent, to 7,351.63. The Russell 2000 index of smaller-company stocks finished flat at 1,600.34.

The market slide comes in the midst of a strong May for stocks. The Dow is on track for a gain of 2.2 percent, while the S&P 500 is closing in on a gain of 2.4 percent. The Nasdaq is up 4 percent.

On Tuesday, it was the bond market that appeared to hold investors' focus.

The yield on the 10-year Treasury rose to 3.07 percent from 3 percent late Monday. That's the highest level since July 2011 for the yield, which is used to set interest rates on mortgages and other kinds of loans.

The surge came after the Commerce Department said retail sales climbed 0.3 percent in April. The agency also revised March sales higher to 0.8 percent from 0.6 percent. The retail sales data suggest that consumers are spending more after a weak first quarter. Bond yields tend to rise when investors expect faster economic growth and higher inflation.

The Federal Reserve has signaled that it will raise rates twice more this year, after having done so initially in March, and most economists foresee the next increase in June. Some Fed watchers have been cautioning that any lasting uptick in inflation or in economic growth might spur the Fed to pursue an additional rate increase before year's end.

"The stock market was due for a digestion of the gains that we've seen over the last eight trading sessions," said Quincy Krosby, chief market strategist at Prudential Financial.

The rise in bond yields pulled down shares in real estate investment trusts and other high-dividend paying stocks. Essex Property Trust fell 3.4 percent to $233.78.

It also put investors in the mood to sell their shares in homebuilders. Mortgage rates, which have been rising this year, tend to track the movement in the 10-year Treasury yield. Higher mortgage rates can make it harder for would-be buyers to afford to purchase a home. D.R. Horton slid 6.7 percent to $40.58.

Some banks got a boost from the higher rates, which make loans more profitable. Capital One Financial rose 1.6 percent to $94.65.

Home Depot dropped 1.4 percent to $187.98 after the home-improvement retailer reported weaker-than-expected sales, partly because of inclement weather, and said the second quarter got off to a slow start.

Technology and health care sector companies took some of the worst losses. Chipmaker Nvidia fell 3.8 percent to $245.56. Drugmaker Celgene slid 3.9 percent to $81.98.

Benchmark U.S. crude oil reversed an early side, rising 35 cents to settle at $71.31 a barrel in New York. Brent crude, used to price international oil, added 20 cents to close at $78.43 a barrel in London.

The dollar rose to 110.38 yen from 109.66 yen late Monday. The euro weakened to $1.1847 from $1.1944.

The greenback's gains weighed on precious metals prices. Gold fell $27.90, or 2.1 percent, to $1,290.30 an ounce. Silver dropped 38 cents, or 2.3 percent, to $16.27 an ounce. Copper slipped 4 cents, or 1.2 percent, to $3.06 a pound.

In other energy futures trading, heating oil was little changed at $2.25 a gallon. Wholesale gasoline added a penny to $2.21 a gallon. Natural gas dipped a penny to $2.84 per 1,000 cubic feet.

Major indexes in Europe finished mixed Tuesday. Germany's DAX fell 0.1 percent after new data showed the country's economy slowed in the first quarter. France's CAC 40 inched up 0.2 percent. Britain's FTSE 100 added 0.2 percent.

In Asia, Japan's benchmark Nikkei 225 edged down 0.2 percent. Australia's S&P/ASX 200 lost 0.6 percent. South Korea's Kospi slipped 0.7 percent. Hong Kong's Hang Seng dropped 1.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines...s-weak-japan-gdp-data-pull-asian-shares-lower

*Technology, Retailers Help Drive Rebound in US Stocks*
U.S. stocks notched solid gains Wednesday, recouping some of the market's losses from a day earlier. Technology and health care companies drove much of the rebound, outweighing losses in safe-play stocks like utilities and real estate investment trusts.

By ALEX VEIGA, AP Business Writer

U.S. stocks notched solid gains Wednesday, recouping some of the market's losses from a day earlier.

Technology and health care companies drove much of the rebound, outweighing losses in safe-play stocks like utilities and real estate investment trusts. Small-company stocks fared better than the rest of the market.

Macy's led a rally among retailers after reporting surprisingly strong results, adding to the strong wave of corporate earnings in recent weeks.

"Earnings growth has shown through and that's been primarily based on strong fundamental growth from U.S. companies," said Jamie Lavin, global investment specialist at J.P. Morgan Private Bank. "And when equity markets are able to look through to that and we don't have any major geopolitical headlines, we tend to have stronger days in the market."

The S&P 500 index rose 11.01 points, or 0.4 percent, to 2,722.46. The Dow Jones industrial average gained 62.52 points, or 0.3 percent, to 24,768.93. The increase nudged the 30-company average to a small gain for the year.

The Nasdaq composite added 46.67 points, or 0.6 percent, to 7,398.30. The Russell 2000 index of smaller-company stocks picked up 16.03 points, or 1 percent, to 1,616.37, topping its last all-time high in January.

The stock indexes wavered little from their upward trajectory Wednesday as investors appeared to shake off concerns about the prior day's spike in bond yields. The market also failed to react much to a Commerce Department report early Wednesday that showed U.S. residential construction fell 3.7 percent in April following a steep drop in apartment construction.

"The market is taking the weaker number with a grain of salt, remembering that colder weather could be a factor," Lavin said. "Year-over-year housing permits are still up."

Technology and health care companies bounced back Wednesday after taking some of the worst losses a day earlier. Western Digital rose 4.9 percent to $87.02, while Cerner added 2.9 percent to $59.97.

Investors continued to sift through the latest batch of corporate report cards from big-name retailers, many of which are issuing quarterly results this week.

Macy's latest results far exceeded analysts' expectations. The department store operator noted that its Bloomingdale's and Bluemercury divisions as well as its flagship store brand all did well. The company's shares led all stocks in the S&P 500, vaulting 10.8 percent to $33.17.

"Seeing encouraging earnings and guidance from Macy's, on top of as-expected growth in retail sales, it gives investors additional reason to be optimistic," said Sam Stovall, chief investment strategist at CFRA Equity Research.

Office Depot climbed 5.1 percent to $2.46 after the office supply company maintained its forecasts for the year.

Several other retailers also moved higher. Nordstrom added 2.4 percent to $51.05, while L Brands gained 2.6 percent to $34.19. Target shares picked up 2.9 percent to $75.23.

Investors will get to pore over more results from retailers Thursday, including Walmart, J.C. Penney and Nordstrom.

"Retail is important because it's a reflection of consumer sentiment and you have many people who are employed by the brick-and-mortar retailers," Stovall said.

Abaxis was among the big gainers Wednesday. The veterinary diagnostics products company vaulted 16.2 percent to $83.34 after it agreed to be acquired by Zoetis.

Traders bid up shares in Teva Pharmaceutical Industries after Warren Buffett's company Berkshire Hathaway more than doubled the size of its investment in the Israeli drugmaker. Teva added 2.9 percent to $20.88. Phillips 66 slipped 0.1 percent to $118.16 after Berkshire sold about half of its investment in the oil and gas company.

Bond prices fell. The yield on the 10-year Treasury rose to 3.10 percent from 3.07 percent late Tuesday, when the yield climbed to its highest level in nearly seven years.

The pickup in bond yields weighed on utilities and other high-dividend paying stocks, adding to their losses from a day earlier. Sempra Energy fell 1.8 percent to $103.34.

Benchmark U.S. crude oil recovered from an early slide, adding 18 cents to settle at $71.49 a barrel in New York. Brent crude, used to price international oil, rose 85 cents to close at $79.28 a barrel in London.

The dollar fell to 110.25 yen from 110.38 yen on Tuesday. The euro weakened to $1.1802 from $1.1847.

Gold rose $1.20 to $1,291.50 an ounce. Silver added 10 cents to $16.37 an ounce. Copper gained 1 cent to $3.07 a pound.

In other energy futures trading, heating oil rose 2 cents to $2.27 a gallon. Wholesale gasoline climbed 5 cents, or 2 percent, to $2.25 a gallon. Natural gas lost 2 cents to $2.82 per 1,000 cubic feet.

Major indexes in Europe finished higher Wednesday. Germany's DAX gained 0.2 percent, while France's CAC 40 added 0.3 percent. Britain's FTSE 100 rose 0.1 percent.

In Asia, Japan's Nikkei 225 stock index lost 0.4 percent following new data showing that Japan's economy contracted in the first quarter. The Kospi in South Korea was essentially flat. Hong Kong's Hang Seng slipped 0.1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...tocks-mixed-as-investors-digest-us-japan-data

*US Stocks End Choppy Day Slightly Lower Amid Trade Jitters*

By ALEX VEIGA, AP Business Writer

U.S. stock indexes closed slightly lower Thursday after a day of mostly choppy trading, wiping out some of the market's gains from a day earlier.

Technology stocks took some of the worst losses. Fast-food chains and other consumer-focused companies, utilities and banks also declined, outweighing gains in energy and industrial stocks. Small-company stocks fared better than the rest of the market.

The indexes veered solidly into the red by late afternoon ahead of a new round of trade talks between the U.S. and China. The countries have threatened tariffs on each other.

"Now that we're making it out of earnings season, geopolitical is going to come back into the forefront of what the market's concerns are," said Shawn Cruz, manager of trader strategy at TD Ameritrade. "And that may continue to drive intraday volatility until we get more certainty as far as what is actually going to come out of these trade talks."

The S&P 500 index slipped 2.33 points, or 0.1 percent, to 2,720.13. The Dow Jones industrial average lost 54.95 points, or 0.2 percent, to 24,713.98. The drop pulled the Dow into the red for the year. The Nasdaq composite fell 15.82 points, or 0.2 percent, to 7,382.47.

The Russell 2000 index of smaller-company stocks bucked the downward trend, setting an all-time high for the second day in a row. The index picked up 8.92 points, or 0.6 percent, to 1,625.29.

Small-cap companies tend to be more focused on business in the U.S., rather than overseas, which may make them more attractive to investors worried about a trade war or rising interest rates.

"The concern is on the geopolitical front, that's why you're seeing the large-cap, the multinationals, really getting hit by this," Cruz said.

The Trump administration was scheduled to resume talks in Washington with senior Chinese officials seeking to ward off a trade war between the world's two biggest economies. But while fielding questions from reporters Thursday afternoon, Trump suggested the talks may not end up averting a trade war with China: "Will that be successful? I tend to doubt it," Trump said.

Investors took note of the remarks and the market indexes moved lower after spending much of the day wavering between small gains and losses.

The Trump administration has proposed tariffs on up to $150 billion in Chinese products to punish Beijing for forcing American companies to turn over technology in exchange for access to the Chinese market. China has countered by targeting $50 billion in U.S. products. Neither country has imposed the tariffs.

The latest quarterly results and outlooks from several companies also put investors in a selling mood.

J.C. Penney sank 12.4 percent to $2.69 after the struggling department store chain said it might take a loss in 2018 as it cut its annual forecast. Jack in the Box lost 8.3 percent to $83.79 after the burger chain's earnings fell short of analysts' expectations.

Cisco Systems led a slide in technology stocks after the seller of routers, switches and software's latest quarterly results disappointed traders. The stock slid 3.8 percent to $43.46.

Dillard's bucked the trend with earnings that exceeded Wall Street's estimates. The department store chain climbed 6.3 percent to $76.53.

CBS slid 4.1 percent to $51.61 after a Delaware judge refused Thursday to grant the company a restraining order against its majority shareholder. CBS had sought to prevent Shari Redstone's National Amusements from thwarting a board vote on a dividend that would dilute National Amusements' voting power, effectively giving CBS independence.

An early rally in crude oil faded by late afternoon. Benchmark U.S. crude oil ended flat at $71.49 a barrel in New York. Brent crude, used to price international oil, rose 2 cents to close at $79.30 a barrel in London. It had been briefly above $80 a barrel, its highest level since November 2014.

Energy stocks notched solid gains. Valero Energy gained 4.1 percent to $119.71.

Williams Partners jumped 8 percent to $41.49 after it agreed to be acquired by oil pipeline company Williams Cos. in an all-stock deal they valued at $10.5 billion.

Bond prices fell. The yield on the 10-year Treasury rose to 3.11 percent from 3.10 percent late Wednesday.

The dollar rose to 110.75 yen from 110.25 yen on Wednesday. The euro weakened to $1.1799 from $1.1802.

Gold fell $2.10 to $1,289.40 an ounce. Silver added 11 cents to $16.48 an ounce. Copper gained 2 cents to $3.09 a pound.

In other energy futures trading, heating oil rose a penny to $2.28 a gallon. Wholesale gasoline fell a penny to $2.24 a gallon. Natural gas gained 4 cents to $2.89 per 1,000 cubic feet.

Major stock indexes in Europe finished higher Thursday. Germany's DAX gained 0.9 percent, while France's CAC 40 rose 1 percent. Britain's FTSE 100 added 0.7 percent. Major indexes in Asia ended mostly lower. Japan's Nikkei 225 index added 0.5 percent. Hong Kong's Hang Seng fell 0.5 percent. The Kospi in South Korea slid 0.5 percent.


----------



## bigdog

https://www.usnews.com/news/busines...n-stocks-higher-on-backdrop-of-us-china-talks

*US Stock Indexes Cap Choppy Trading Week With a Mixed Finish*

By ALEX VEIGA, AP Business Writer

Despite a choppy week of trading and a mixed finish for U.S. stocks, the market extended its recent streak of relative calm Friday.

The S&P 500, the market's benchmark index, notched its 10th day in a row without a gain or drop of 1 percent or more. That's the longest stretch going back to January 26, when the market broke four and a half months of calm with a 1.2 percent gain, which also marked a record high.

Just one week later, the market entered an extended bout of volatility that included a rapid plunge of 10 percent in early February. That was the first "correction" the market had seen in two years.

Since then, the market has returned to quieter trading, even as U.S. companies report fatter profits and investors grow anxious about rising interest rates and the threat of a trade war between the U.S. and China.

"Now it feels like investors are paralyzed trying to choose between a pretty solid economic picture and great earnings growth, and rising rates and ongoing geopolitical drama day to day," said Craig Birk, executive vice president of portfolio management at Personal Capital.

The S&P 500 index fell 7.16 points, or 0.3 percent, to 2,712.97. The Dow Jones industrial average gained 1.11 points to 24,715.09. The Nasdaq composite lost 28.13 points, or 0.4 percent, to 7,354.34.

The Russell 2000 index of smaller-company stocks rose 1.34 points, or 0.1 percent, to 1,626.63, its third all-time high in a row.

The indexes finished the week in the red, but are still on track for gains this month, led by the Russell 2000.

After a strong start to the month, markets have been choppy this week as investors turned the page on the first-quarter earnings reporting season and weighed the implications of the ongoing trade tensions between the U.S. and China. The countries, which have threatened tariffs on each other, were holding discussions aimed at averting a trade war between the world's two biggest economies.

Traders have also been coming to grips with the yield on the 10-year Treasury note moving well past 3 percent. It hit 3.12 percent on Wednesday, its highest level in almost seven years.

"The issue of inflation is starting to rear its head again," said Jeff Kravetz, regional investment strategist for U.S. Bank Private Wealth Management. "That's got investors a bit nervous. And then we have the dollar strengthening and emerging markets weakening."

Even so, the S&P 500 has remained on a narrow trading range, keeping volatility largely under wraps, at least for now.

On Friday, banks and technology companies were among the biggest decliners, offsetting gains by industrial and health care stocks. Energy companies also declined as crude oil prices closed lower.

Bond prices rose, sending yields lower. The yield on the 10-year Treasury fell to 3.06 percent from 3.12 percent late Thursday. The pullback in bond yields, which affect interest rates on mortgages and other consumer loans, weighed on bank stocks. Citigroup fell 2.2 percent to $69.96.

Some companies' latest quarterly results or outlooks also put investors in a selling mood Friday.

Campbell Soup plunged 12.4 percent to $34.37 after the packaged foods company lowered its profit forecast and said that its CEO, Denise Morrison, was retiring effectively immediately. The stock was the biggest decliner in the S&P 500 and had its worst single-day drop since 1999.

Nordstrom tumbled 10.9 percent to $45.36 after the upscale department store chain said sales at established stores, a key metric for retailers, showed meager gains in the first quarter.

Applied Materials slumped 8.2 percent to $49.51 after the maker of chipmaking equipment forecast revenue for the current quarter that was below Wall Street's estimates.

Industrials and health care stocks notched solid gains. Drugmaker Nektar Therapeutics led all stocks in the S&P 500, climbing 7.7 percent to $85.30. Deere & Co. gained 5.7 percent to $155.25 after the agricultural and construction equipment maker forecast 35 percent growth in equipment sales for its third quarter.

PayPal Holdings added 2 percent to $80.79 on news that the company is buying Stockholm-based payment processing startup iZettle for $2.2 billion with the aim of expanding into Europe and Latin America.

Benchmark U.S. crude oil fell 21 cents to settle at $71.28 a barrel in New York. Brent crude, used to price international oil, lost 79 cents to $78.51 a barrel in London.

The slide in oil prices was a drag on energy stocks. Range Resources slid 3.2 percent to $15.17.

Gold gained $1.90 to $1,291.30 an ounce. Silver slipped 3 cents to $16.46 an ounce. Copper dropped 3 cents to $3.06 a pound.

The dollar fell to 110.68 yen from 110.75 yen on Thursday. The euro weakened to $1.1773 from $1.1799.

In other energy futures trading, heating oil lost 2 cents to $2.27 a gallon. Wholesale gasoline slipped a penny to $2.23 a gallon. Natural gas gave up a penny to $2.85 per 1,000 cubic feet.

Major indexes in Europe fell. Germany's DAX gave up 0.3 percent, while France's CAC 40 slid 0.1 percent. Britain's FTSE 100 lost 0.1 percent.

Asian stock markets finished mostly higher. Japan's Nikkei 225 added 0.4 percent and South Korea's Kospi index rose 0.5 percent. Hong Kong's Hang Seng index gained 0.3 percent.

6036


----------



## bigdog

*Hope for US-China trade progress sends stocks jumping*
*Stocks rally on Wall Street and overseas after the U.S. and China said they made progress in trade talks

https://www.nytimes.com/aponline/2018/05/21/world/asia/ap-financial-markets.html*

Written by By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Industrial and technology companies led stocks to solid gains Monday after the U.S. and China appeared to make significant progress in trade talks. That helped ease concerns among investors that the world's two biggest economies might be headed for a trade war.

After another round of talks, the two countries agreed not to place tariffs on goods imported from the other. The Chinese government said it will buy more U.S. goods, including energy and agricultural products, while Treasury Secretary Steven Mnuchin said the U.S. postponed its proposal to put tariffs on up to $150 billion in goods from China. The two sides gave no indication of how much progress they had made toward ending their dispute entirely and both said hostilities could increase again.

Mark Hackett, chief of investment research at Nationwide Investment Management, said investors overreacted to the possibility of a trade war and they may be slowly learning to take a more patient approach with statements by the Trump administration and other nations, which is a good thing, Hackett says, because future administrations may borrow from Trump's aggressive style.

"Treating Trump literally is destructive for investors," he said. "There's a lot of these issues where there are going to be hyperbolic statements made in the public sphere by both sides."

The S&P 500 index climbed 20.04 points, or 0.7 percent, to 2,733.01. The Dow Jones industrial average rose as much as 371 points during the morning and finished with a gain of 298.20 points, or 1.2 percent, to 25,013.29. The Nasdaq composite gained 39.70 points, or 0.5 percent, to 7,394.04. The Russell 2000 index of smaller-company stocks set another record close as it jumped 10.81 points, or 0.7 percent, to 1,637.44.

All 11 sectors in the S&P 500 index finished higher. Among industrials, Boeing gained 3.6 percent to $363.92 and construction equipment maker Caterpillar rose 2.1 percent to $158.92. In the financial sector, Bank of New York Mellon added 1.3 percent to $57.72 and JPMorgan Chase rose 0.9 percent to $112.15.

Trade disputes have occupied a lot of investors' attention for the last two months. Stocks have rallied on signs progress was being made, only to fall back when the situation appeared to worsen. Hackett said Wall Street could get over its trade worries relatively quickly if talks go well.

If that happens, he said stocks could be set for further gains because they are still below their early 2018 highs and analysts expect stronger earnings growth, which makes stock prices seem less expensive.

General Electric rose 1.9 percent to $15.26 after announcing that its train engine division will combine with railroad equipment maker Westinghouse Air Brake Technologies in deal worth $11.1 billion. It's the latest step by GE's CEO, John Flannery, to break off parts of the conglomerate. GE will get $2.9 billion in cash and will own 50.1 percent of the combined company, and the deal will help it narrow its business down to the aviation, health care and energy industries.

Wabtec gained 3.5 percent to $98.55.

Chipmakers rallied after Micron Technology raised its profit and revenue forecasts for the fiscal third quarter. Micron jumped 3.9 percent to $55.48 while Intel picked up 1.5 percent to $54.32 and Lam Research added 2.2 percent to $199.87.

That contributed to a broad rally in technology stocks. Microsoft gained 1.3 percent to $97.60 and Google's parent company Alphabet rose 1.3 percent $1,084.01.

Fifth Third Bancorp is buying Chicago's MB Financial for about $4.7 billion, mostly in stock. The deal values MB at $54.20 per share, and its stock rose 12.9 percent to $49.28 while Fifth Third tumbled 7.9 percent to $30.90.

Investment manager Blackstone agreed to buy LaSalle Hotel Properties for $33.50 a share, or $3.7 billion in cash. LaSalle jumped 5.4 percent to $33.61 while Blackstone rose along with other financial firms and gained 1.6 percent to $31.79.

Health care companies finished a bit higher overall but didn't do as well as the rest of the market. Biotechnology companies lost groups as Celgene dropped 4.7 percent to $74.69 and Alexion Pharmaceuticals fell 1.4 percent to $119.37.

The dollar rose to 111.11 yen from 110.68 yen late Friday. The euro dipped to $1.1772 from $1.1773.

Energy companies advanced as benchmark U.S. crude oil rose 1.3 percent to $72.24 a barrel in New York. Brent crude, used to price international oil, added 0.9 percent to $79.22 per barrel in London.

Wholesale gasoline added 1 percent to $2.26 a gallon and heating oil rose 0.4 percent to $2.27 a gallon. Natural gas fell 1.3 percent to $2.81 per 1,000 cubic feet.

Gold was little changed at $1,290.90 an ounce. Silver rose 0.4 percent to $16.52 an ounce. Copper picked up 1.1 percent to $3.10 a pound.

Bond prices held steady. The yield on the 10-year Treasury note stayed at 3.06 percent.

The British FTSE 100 gained 1 percent and France's CAC 40 rose 0.5 percent. The German market was closed for a holiday. Japan's Nikkei 225 rose 0.3 percent. Hong Kong's Hang Seng gained 0.6 percent and South Korea's Kospi added 0.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines...-markets-mostly-lower-after-wall-street-gains

*Stocks Sink Late as Smaller Companies and Industrials Fade*
Stocks give up early gains and finish lower as smaller companies retreat from record highs and industrial companies and retailers decline.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks faded Tuesday afternoon and finished the day mostly lower as industrial companies and retailers fell. Smaller and more U.S.-focused companies slumped after setting records the last few days.

Large industrial companies like Boeing, 3M and Caterpillar slipped, and retailers including Kohl's, AutoZone and Advance Auto Parts fell after releasing their quarterly results. Energy companies fell as crude oil gave up an early gain. Smaller companies had their worst day of the month as a winning streak that brought them to all-time highs came to an end.

For most of the day stocks were on track for small gains. Automakers rose after China said it will reduce duties on imported cars in July, a sign the U.S. and China could resolve some of their differences on trade. Banks climbed as Congress prepared to loosen some of the rules that have governed the industry since the 2008 financial crisis.

Stocks rose Monday as investors grew more hopeful that the trade dispute between the U.S. and China will be resolved without major effects on the global economy. But Marina Severinovsky, an investment strategist at Schroders, said the two countries appear to be looking for easy wins without addressing larger and more difficult issues, like China's technology policies and its handling of intellectual property.

That might pacify the market for now because the global economy is doing well, but she thinks tensions will eventually flare up again.

"The more competitive the Chinese become in higher-end industries ... the more this is really going to become an issue," she said. "There will be more industries and companies clamoring for protection."

The S&P 500 index slid 8.57 points, or 0.3 percent, to 2,724.44. The Dow Jones industrial average lost 178.88 points, or 0.7 percent, to 24,834.41. The Nasdaq composite fell 15.58 points, or 0.2 percent, to 7,378.46. The Russell 2000 index of smaller company stocks gave up 12.20 points, or 0.7 percent, to 1,625.24 after it closed at record highs the last four days.

J.C. Penney was one of the worst performers among both small companies and retailers. It fell 6 percent to $2.35 after it said Chairman and CEO Marvin Ellison will leave to become CEO of Lowe's. He worked at Lowe's rival Home Depot for 12 years before he was hired by J.C. Penney, which reported weak first-quarter results less than a week ago.

Elsewhere, jeans retailer Guess fell 7.9 percent to $23.80. Kohl's had a strong second quarter, but said much of that strength came because a Mother's Day-related sale came earlier in the year. While that helped the company in the fiscal second quarter, it will hurt its sales in the third and fourth quarters. Kohl's sank 7.4 percent to $60.61.

Banks fared better as the House of Representatives was expected to pass a bill that increases the threshold at which banks are deemed so big and so connected to the financial grid that if one were to fail it would cause major havoc. The legislation would roll back parts of the Dodd-Frank law, which was passed in the aftermath of the 2008 financial crisis. The measure passed the Senate in March with the support of Republicans and some Democrats.

Banks reported record profits in the first quarter of the year as last year's corporate tax cut juiced their profits. BB&T Corp. gained 1.3 percent to $55.53 and Bank of America rose 1.1 percent to $30.89.

Severinovsky, of Schroders, said the bill wouldn't make a major difference to banks, but it gave investors a reason to feel better about their prospects.

"These are very different businesses than the way we remember them in 2009," she said, adding that banks have stronger balance sheets and are befitting from the improved economy and higher interest rates.

China followed up on a promise it made in April by reducing auto import duties effective July 1. That follows pledges to buy more U.S. goods and end restrictions on foreign ownership in the industry. China is the world's biggest auto market by number of vehicles sold as consumer bought 24.7 million SUVs, sedans and minivans in 2017, compared with 17.2 million for the U.S., the next-biggest market, United States.

Tata Motors of India advanced 4 percent to $22.91 and Fiat Chrysler gained 1.3 percent to $22.62.

Benchmark U.S. crude and fell 0.2 percent to $72.13 per barrel in New York. Brent crude, used to price international oils, rose 0.4 percent to $79.57 per barrel in London.

Wholesale gasoline rose 0.6 percent to $2.27 a gallon. Heating oil added 0.3 percent to $2.28 a gallon. Natural gas jumped 3.5 percent to $2.91 per 1,000 cubic feet.

Gold rose 0.1 percent to $1,292 an ounce. Silver added 0.3 percent to $16.58 an ounce. Copper rose 1.1 percent to $3.13 a pound.

Bond prices were little changed. The yield on the 10-year Treasury note remained at 3.06 percent.

The dollar declined to 111.02 yen from 111.11 yen. The euro rose to $1.1779 from $1.1772.

The German DAX, which was closed for a holiday Monday, jumped 0.7 percent and London's FTSE 100 added 0.2 percent. France's CAC 40 rose less than 0.1 percent. Tokyo's Nikkei 225 lost 0.2 percent. 

*Markets in Hong Kong and South Korea were closed for holidays.*


----------



## bigdog

https://www.usnews.com/news/busines...-fall-amid-worries-over-us-china-trade-koreas

*Fed Gives Stocks a Boost; Technology and Retailers Rally*
US stocks reverse early losses and finish higher as investors are pleased that the Federal Reserve didn't appear to be in a hurry to raise interest rates at its meeting earlier this month.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks turned higher Wednesday after the Federal Reserve indicated it's not in a hurry to raise interest rates too quickly. Retailers and technology companies led the way as the market erased some early losses.

Stocks opened lower after a business survey suggested that the eurozone economy might remain weak for longer than experts had expected. Investors bought U.S. and European government bonds, which sent yields and interest rates lower and hurt banks. The S&P 500 index fell as much as 14 points early on.

The market turned higher after the Fed released minutes from its meeting in early May. Officials concluded that the Fed should be on track to keep raising interest rates gradually, and some said it wouldn't be a problem if inflation briefly went past the Fed's target rate of 2 percent. That suggests the Fed won't raise interest rates too quickly, a development that worries investors because it would slow down economic growth.

"Investors are sort of nervous around an overly aggressive Fed at this point in the cycle maybe throwing us into a recession," said Katie Nixon, chief investment officer for Northern Trust Wealth Management.

The S&P 500 index rose 8.85 points, or 0.3 percent, to 2,733.29. The Dow Jones industrial average gained 52.40 points, or 0.2 percent, to 24,886.81. The Nasdaq composite climbed 47.50 points, or 0.6 percent, to 7,425.96. The Russell 2000 index of smaller-company stocks added 2.37 points, or 0.1 percent, to 1,627.61.

Federal Reserve officials left interest rates unchanged in early May and investors expect they will raise them in mid-June. The central bank's members discussed concerns such as rising wage pressures and possible negative reactions to the Trump administration's trade policies, but didn't change their overall views.

The central bank has said it expects to raise rates a total of three times this year and some experts believe it will raise rates as many as four times. Nixon, of Northern Trust, said she expects only two rate increases: she said the Fed might leave rates alone after June if it sees signs the economy is slowing down a bit as the effects of last year's tax cuts fade.

Tiffany sparkled in the first quarter as the jewelry company's earnings and sales blew past Wall Street projections. The company also said it's planning to buy back $1 billion in its own stock. The stock jumped 23.3 percent to $126.05. Also rising after its quarterly report was Ralph Lauren, which jumped 14.3 percent to $133.33.

Target slumped after its first-quarter profit fell short of expectations. The big box retailer said more customers came to its stores and sales improved, but it's spending a lot of money to try to reinvent itself to better compete with Amazon. Target plans to spend $7 billion through 2020 to update stores and open smaller locations in urban markets. The stock sank 5.7 percent to $71.17.

Home improvement retailer Lowe's had a mostly disappointing first quarter as harsh winter weather cut into the traditional spring sales season, but the company forecast stronger sales growth for the rest of the year. The stock surged 10.4 percent to $94.69. Lowe's stock and its sales have lagged behind Home Depot, but it made up ground on Wednesday.

The IHS Market purchasing managers' index, a broad gauge of business activity in Europe, fell to its lowest level in 18 months in May. While the European economy is still growing, investors had hoped for signs the doldrums were clearing.

Germany's DAX gave up 1.5 percent and France's CAC 40 fell 1.3 percent while the British FTSE 100 lost 1.1 percent. Investors bought European government bonds, pushing prices higher and yields lower in Germany, Spain, France and the U.K.

Bond prices climbed in the U.S. as well. The yield on the 10-year Treasury note fell to 2.99 percent from 3.06 percent. With interest rates in decline, banks lost ground.

Banks climbed Tuesday before Congress passed a bill that eases some of the regulations passed after the 2008 financial crisis. President Donald Trump is expected to sign it into law. Real estate investment trusts, utilities, and other stocks that pay large dividends rose. Those stocks are often considered alternatives to bonds, and investors who want income often buy them when bond yields decrease.

Comcast said it is preparing an all-cash offer for Twenty-First Century Fox's entertainment divisions, and said it plans to bid more than the $52.4 billion Disney offered. Comcast didn't disclose other details about its plans. Fox rose 1.6 percent to $38.77 while Comcast fell 1.9 percent to $31.88, and Disney slid 1.1 percent to $102.89

Benchmark U.S. crude lost 0.5 percent to $71.84 per barrel in New York. Brent crude, used to price international oils, rose 0.3 percent to $79.80 a barrel in London.

Wholesale gasoline lost 0.4 percent to $2.26 a gallon. Heating oil rose 0.4 percent to $2.29 a gallon. Natural gas added 0.2 percent to $2.91 per 1,000 cubic feet.

The dollar dropped to 110.07 yen from 111.02 yen. The euro fell to $1.698 from $1.1779.

Gold lost 0.2 percent to $1,289.60 an ounce. Silver fell 1 percent to $16.41 an ounce. Copper plunged 2 percent to $3.07 a pound.

Japan's benchmark Nikkei 225 fell 1.2 percent and South Korea's Kospi gained 0.3 percent. Hong Kong's Hang Seng lost 1.8 percent.


----------



## bigdog

https://www.usnews.com/news/busines...res-mixed-after-fed-gives-wall-street-a-boost

*Cancellation of Korea Summit Sends Stocks on Bumpy Ride*
U.S. stocks slump after President Donald Trump said he'd canceled a summit with North Korean leader Kim Jong Un, although they later recovered most of their losses.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks finished mostly lower Thursday as energy companies skidded along with oil prices. The market dropped after President Donald Trump said he canceled a meeting with North Korean leader Kim Jong Un, but recovered most of those losses.

Crude oil futures and energy companies fell as investors reacted to reports that OPEC nations may start producing more oil. Banks fell as interest rates edged lower, and car companies including Fiat Chrysler and Toyota dropped as the Trump administration considered tariffs on imported cars and car parts, a move that was criticized by the governments of China, Japan and the European Union.

The Dow Jones industrial average fell as much as 280 points in the morning, more than 1 percent, after Trump said the June meeting with Kim was off. In a letter, Trump said he was canceling the summit because of "tremendous anger and open hostility" in a recent statement by a North Korean official. Technology companies, which have led the market in recent years, took some of the biggest losses and defense contractors climbed.

The market gradually recovered those losses, and Trump later told reporters that the meeting could still happen in June or later on. Stocks finished only slightly lower than where they were before Trump's initial announcement.

Chris Zaccarelli, chief investment officer for the Independent Advisor Alliance, said investors were troubled at first by Trump and Kim's statements about a possible nuclear war, but they've gotten used to it, which means the market doesn't react as much to their statements.

"The first time the market hears these threats there's a large reaction and after that there's less reaction," he said. "It's just rhetoric right now and there's no actual military conflict, (so) these moves are kind of short-lived."

The S&P 500 index dropped 5.53 points, or 0.2 percent, to 2,727.26. The Dow Jones industrial average lost 75.05 points, or 0.3 percent, to 24,811.76. The Nasdaq composite dipped 1.53 points, less than 0.1 percent, to 7,424.43. The Russell 2000 index of smaller-company stocks edged up 0.61 points to 1,628.22.

Benchmark U.S. crude lost 1.6 percent to $70.71 per barrel in New York. Brent crude, used to price international oils, fell 1.3 percent to $78.79 a barrel in London.

Various news outlets reported that the nations of the OPEC cartel might start producing more oil in response to reduced exports from Venezuela and Iran. Greater supplies would send prices lower. Energy companies have slipped in recent days as investors anticipated that possibility. On Thursday Exxon Mobil lost 2.3 percent to $80.27 and Chevron dipped 1.6 percent to $126.61.

OPEC and a group of other major oil producers cut production last year in response to a steep drop in oil prices. U.S. crude had fallen from more than $100 a barrel in mid-2014 to as little as $26 a barrel in early 2016. On Monday U.S. crude peaked at $72.24 a barrel, its highest price since late 2014.

The two sides agreed in March after Trump and Kim traded public insults and threats for months.

Still, defense companies fared better than the rest of the market. Raytheon rose 1.3 percent to $213.94 and Northrop Grumman gained 1.4 percent to $332.81.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.97 percent from 2.99 percent, and banks traded lower. Metals prices also increased as the dollar weakened. Gold gained 1.1 percent to $1,304.40 an ounce and silver jumped 1.7 percent to $16.69 an ounce. Copper picked up 0.8 percent to $3.10 a pound.

The Trump administration plans to conduct an investigation into imported vehicles and automotive parts on national security grounds. A European Union official said the proposal would violate World Trade Organization rules and Japan and China also criticized the proposal. Those same grounds are the justification for proposed tariffs on imported aluminum and steel, and the U.S. will decide by June 1 whether to impose tariffs on steel and aluminum from Europe.

Fiat Chrysler lost 0.9 percent to $22.26 and Tata Motors fell 5.8 percent to $21.09. Toyota shares fell 1.8 percent to $132.44. U.S. rivals Ford rose 1.6 percent to $11.62 and General Motors added 1.4 percent to $38.39.

"I'm hoping that what they're doing is trying to put a little pressure on the NAFTA negotiations and this will be a way to get Mexico and Canada to agree," said Zaccarelli, of the Independent Advisor Alliance.

In other energy trading, wholesale gasoline fell 1.2 percent to $2.23 a gallon and heating oil lost 1 percent to $2.27 a gallon. Natural gas rose 0.9 percent to $2.94 per 1,000 cubic feet.

The dollar fell to 109.28 yen from 110.07 yen. The euro rose to $1.1727 from $1.1698.

Germany's DAX lost 0.9 percent and the FTSE 100 in Britain fell 0.9 percent as well. The CAC 40 in France shed 0.3 percent. Japan's Nikkei 225 index fell 1.1 percent and the Kospi in South Korea slipped 0.2 percent. In Hong Kong, the Hang Seng gained 0.3 percent.


----------



## bigdog

https://www.usnews.com/news/busines...cks-mixed-as-nkoreas-restraint-eases-concerns

*Stocks Dip as Oil Prices and Energy Companies Fall Sharply*
A sharp drop in crude oil prices sends energy companies skidding to their worst losses in months, weighing down the broader stock market.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Energy companies and oil prices took their worst losses in months Friday on reports OPEC countries plan to produce more oil soon. Stock indexes finished an indecisive week with small losses.

U.S. crude oil sank 4 percent after multiple reports indicated that Russia and OPEC could start producing more oil soon. They cut production at the start of 2017 following a big buildup in supplies that had pushed prices lower.

In November they extended that cut through the end of 2018, but according to reports this week, they might agree to start raising production in June. U.S. crude finished at a three-year high Monday and has fallen 6 percent since then.

The drop in the price of oil has meant sharp losses for energy companies, but it gave airlines a boost as investors anticipated lower fuel costs. Bond yields declined again, which hurt banks but helped dividend-payers like household goods makers.

Wall Street also focused on quarterly results from retailers. Gap plunged after it said its namesake brand is still struggling, but Foot Locker soared after it said sales of premium shoes improved.

Terry Sandven, chief equity strategist at U.S. Bank Wealth Management, said energy companies and oil prices had made big gains lately and were due to slow down. He said the growing global economy is going to help the industry in the longer term.

"If you look at the sectors that are outperforming, it's those that tend to be pro-growth," he said, especially technology and consumer-focused companies. Over the last month that growth, and the strong company profits that come with it, have not translated into gains for stocks. Sandven said that could change when companies start reporting their second-quarter results in July.

The S&P 500 index slid 6.43 points, or 0.2 percent, to 2,721.33. The Dow Jones industrial average fell 58.67 points, or 0.2 percent, to 24,753.09. The Nasdaq composite climbed 9.42 points, or 0.1 percent, to 7,433.85 as consumer-focused companies moved higher. The Russell 2000 index of smaller-company stocks lost 1.29 points, or 0.1 percent, to 1,626.93.

U.S. markets will be closed Monday for the Memorial Day holiday.

U.S. crude dropped to $67.88 a barrel in New York. Brent crude, used to price international oils, fell 3 percent to $76.44 a barrel in London. Increased oil production and lower prices could reduce profits for energy companies. Exxon Mobil fell 1.9 percent to $78.71 and Chevron gave up 3.5 percent to $122.19.

Among airlines, Delta gained 2.7 percent to $55.87 and American rose 3.1 percent to $44.91. The stocks have skidded over the last few months as the rising price of oil increased their fuel costs and cut into their profits. Delta stock is flat in 2018 and American Airlines has fallen 14 percent.

Bond prices kept rising. The yield on the 10-year Treasury note fell to 2.93 percent form 2.98 percent.

The falling yields helped household goods makers break out of their recent struggles. Toothpaste maker Colgate-Palmolive added 2 percent to $63.75 and cereal maker Kellogg rose 2.7 percent to $65.23. The stocks, and others that pay large dividends, have lagged behind the rest of the market as investors found technology firms and consumer-focused companies more attractive thanks to signs of strong growth in the U.S. economy.

Gap dropped 14.6 percent to $28.15 following a drop in sales for Gap brand stores. Gap has been shifting focus away from the namesake brand because it's not connecting with shoppers and has struggled to separate itself from rivals. Its Old Navy and Banana Republic brands fared better. Elsewhere, discount retailer Ross Stores gave up 6.8 percent to $77.34 after it gave disappointing forecasts for the current quarter and the full year.

Foot Locker blew past estimates and said sales of premium shoes continue to improve, which has been a major concern for it and other sporting goods companies. The stock jumped 20.2 percent to $54.74. Shoe Carnival leaped 20.7 percent to $31.80 after it beat expectation in the first quarter. It, too, said athletic shoe sales improved.

Fiat Chrysler fell 2 percent to $21.82 after saying it's recalling 4.8 million vehicles in the U.S. because in rare circumstances drivers may not be able to turn off the cruise control. The company warned owners not to use cruise control until the vehicles can be fixed with a software update. Drivers can still stop the cars using the brakes.

Wholesale gasoline slid 2.3 percent to $2.18 a gallon. Heating oil lost 2.5 percent to $2.21 a gallon. Natural gas remained at $2.94 per 1,000 cubic feet.

Gold slipped 0.1 percent to $1,303.70 an ounce. Silver lost 0.8 percent to $16.55 an ounce. Copper fell 0.6 percent to $3.08 a pound.

The dollar rose to 109.37 yen from 109.28 yen. The euro fell to $1.1669 from $1.1727.

Germany's DAX rose 0.6 percent and the CAC 40 in France fell 0.1 percent. Britain's FTSE 100 rose 0.2 percent. Japan's benchmark Nikkei 225 index rose 0.1 percent and South Korea's Kospi lost 0.2 percent. Hong Kong's Hang Seng shed 0.6 percent.

6421


----------



## bigdog

*NYSE CLOSED MONDAY MAY 28 FOR MEMORIAL HOLIDAY*











https://www.usnews.com/news/busines...advance-as-markets-mull-north-korea-italy-oil

*European Stocks Drop Amid Italy Uncertainty, Oil Falls Again*
European shares drop on concern about Italian politics, after Asian stocks rise; oil price extends last week's drop on expectation of output increase
By KELVIN CHAN, AP Business Writer

HONG KONG (AP) — European stock markets fell Monday after small gains in Asia as investors digested political uncertainty in Italy, while crude oil fell further amid expectations for output increases. Markets remained closed for holidays in the U.S. and Britain.

KEEPING SCORE: France's CAC 40 fell 0.6 percent to 5,508.93 and Germany's DAX dropped 0.6 percent to 12,863.46. Italy's benchmark FTSE MIB opened higher but drifted lower to close down 2.1 percent at 21,932.69. Japan's Nikkei 225 edged 0.1 percent higher to 22,481.09 and South Korea's Kospi rose 0.7 percent to 2,478.96. Hong Kong's Hang Seng rose 0.7 percent to 30,792.26 while the Shanghai Composite in mainland China dipped 0.2 percent to 3,135.08. Australia's S&P/ASX 200 fell 0.5 percent to 6,004.00.

ITALIAN POLITICS: The euro was volatile, touching a six-month low after Italy's president vetoed a euroskeptic candidate for economy minister proposed by leaders of two populist parties trying to form a government. President Sergio Mattarella said Sunday he was refusing to appoint Paolo Savona, whose policies could rattle nervous markets and further inflate the country's staggering debt load. Instead, he named an economist, Carlo Cottarelli, to lead the country until new elections. While avoiding a populist government that investors had worried about, the move means more political uncertainty. The euro fell to $1.1627 from $1.1652 on Friday.

ANALYST TAKE: "The euro has had a rough go lately, reflecting a firehose of negative news headlines. It started with the loss of data momentum and now political risks have injected a new risk premium. We still believe that Italy doesn't pose systemic risks to the single currency," said Mark McCormick, the North American Head of FX Strategy at TD Securities.

NORTH KOREA: President Donald Trump's latest reversal on a summit with North Korean leader Kim Jong Un and South Korean President Moon Jae-in's impromptu meeting with Kim on Saturday eased fears over the Korean Peninsula's nuclear crisis. Trump tweeted that a U.S. team is in North Korea to make arrangements for the planned June 12 summit in Singapore, days after he said the U.S. was withdrawing from the meeting. Meanwhile, Moon revealed details about his surprise meeting with Kim in the Panmunjom truce village, saying Kim had committed to sitting down with Trump and to a "complete denuclearization of the Korean Peninsula."

CURRENCIES: The dollar slipped to 109.32 yen from 109.40 yen late Friday. The pound was roughly flat at $1.3309.

ENERGY: Oil futures resumed tumbling after taking their worst losses in months on Friday, battered by reports that OPEC countries and Russia could start pumping more oil soon. Benchmark U.S. crude tumbled $1.45 a barrel, or 1.7 percent, to $66.43 a barrel in electronic trading on the New York Mercantile Exchange. The contract dropped $2.83, or 4 percent, to settle at $67.88 on Friday. Oil producing countries cut output at the start of 2017 following a big supply buildup and agreed last year to extend those cuts through the end of 2018, but according to reports last week, they might agree to start raising production in June.


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## bigdog

https://www.usnews.com/news/busines...advance-as-markets-mull-north-korea-italy-oil

*Italian Turmoil Hits Global Markets, Sending Stocks Plunging*
Stocks in Europe and the US skid as Italy appears headed for another round of elections, potentially causing more instability in the euro.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks in the U.S. and Europe sank Tuesday following political turmoil in Italy, which stoked fears of instability in the euro bloc.

Investors sold stocks and prices for U.S. government bonds surged as investors shifted money into lower-risk investments. Bond yields dropped, and with them, interest rates on mortgages and other kinds of loans. Banks plunged as Wall Street expected they would earn thinner profits.

Major exporters like technology and industrial companies and big drug and medical device makers also skidded. Those companies depend on strong sales outside the U.S.

Investors dumped Italian government bonds, driving borrowing costs sharply higher for that country and rekindling fears of more financial strain for Europe's third-largest economy. They bought German and British government bonds instead, which are seen as more stable.

The political upheaval in Italy is likely to lead to new elections in the next few months, and investors are interpreting the new vote as a referendum and that Italy could move closer to abandoning the currency if populist parties win the election. It's not clear if that would happen, but if it did, it would have major implications for the European financial system and its economy.

"Eurozone membership will be at the forefront of the next election," said Alicia Levine, the head of global investment strategy at BNY Mellon Investment Management. "Should Italy leave the eurozone, it's clearly bad for European assets and it's bad for the European banking system."

New jitters about the stability of the euro sent the currency's value against the dollar to its lowest level in almost a year. The dollar rose to 108.24 yen from 109.37 yen. The euro sank to $1.1531, its lowest since July, from $1.1669.

The S&P 500 index sank 31.47 points, or 1.2 percent, to 2,689.86. The Dow Jones industrial average turned negative for the year as it lost 391.64 points, or 1.6 percent, to 24,361.45. It was down as much as 505 earlier. In Europe, Italy's benchmark stock index plunged 2.7 percent.

Smaller U.S. companies, which tend to be more domestically focused than the large multinationals in the Dow, fared much better than the rest of the market. The Russell 2000 index fell far less than the Dow average, giving up 3.28 points, or 0.2 percent, to 1,623.65.

The Nasdaq composite fell 37.26 points, or 0.5 percent, to 7,396.59.

U.S. markets were closed Monday for the Memorial Day holiday.

Italian President Sergio Mattarella picked Carlo Cottarelli for prime minister after the anti-establishment 5-Star Movement and right-wing League refused to withdraw an anti-euro candidate as economy minister. That ended their attempt to establish a government after inconclusive elections in March. Cottarelli is likely to lose a vote of no confidence in parliament, which would mean another round of elections.

Investors dumped Italian stocks and bonds as a result. Yields on Italian government bonds soared as their prices declined. The yield on the 10-year Italian government bond jumped to 3.10 percent from 2.69 percent, a huge move. At the beginning of May the yield was just 1.78 percent. The sharp move higher reflects weakening confidence among investors in Italy's government.

The German DAX lost 1.5 percent and Britain's FTSE 100 and the French CAC 40 both sank 1.3 percent. Some of the worst losses went to European banks: Germany's Deutsche Bank dropped 6.2 percent to $11.30 and Banco Santander of Spain lost 9.1 percent to $5.31.

"Uncertainty and the unknowns themselves affect the real economy," said Levine, of Bank of New York Mellon. "You've going to have less investment, you're going to have a decline in consumer spending, you've going to have, on the margin, less consumer activity affecting growth."

Spain was facing political turbulence of its own. That country's parliament will hold a vote of no confidence in Prime Minister Mariano Rajoy after graft convictions of businesspeople and officials tied to his conservative Popular Party. The Spanish IBEX 35 sank 2.5 percent.

U.S. government bond prices jumped as investors moved money into lower-risk assets. The yield on the 10-year Treasury fell to 2.78 percent, its lowest since early April, from 2.93 percent. JPMorgan Chase dropped 4.3 percent to $105.93 and Bank of America fell 4 percent to $28.96.

U.S. crude oil fell 1.7 percent to $66.73 a barrel in New York. Oil prices have slumped in the last week following reports that OPEC countries and Russia could start pumping more oil soon. Brent crude, used to price international oils, rose 0.1 percent to $75.39 a barrel in London.

Wholesale gasoline gave up 1.7 percent to $2.14 a gallon. Heating oil shed 1.1 percent to $2.19 a gallon. Natural gas dropped 2.2 percent to $2.88 per 1,000 cubic feet.

Gold fell 0.4 percent to $1,299 an ounce. Silver lost 1 percent to $16.37 an ounce. Copper gave up 0.5 percent to $3.06 a pound.

In Asia, Japan's Nikkei 225 fell 0.6 percent while the South Korean Kospi lost 0.9 percent. Hong Kong's Hang Seng index plunged 1 percent.


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## bigdog

https://www.usnews.com/news/busines...anguish-as-italian-turmoil-hits-world-markets

*Stock Markets Reverse Course and Surge as Italy Fears Fade*
U.S. stocks recover most of their sharp losses from a day earlier and bond yields turn higher as investors hope Italy might be able to avoid a new round of elections.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Banks and energy companies surged Wednesday and smaller companies made huge gains as stocks got back almost all the ground they lost the day before. Investors reversed course as they hoped Italy would be able to avoid a new round of elections after all.

Financial companies rallied as bond yields turned higher and energy companies rose along with U.S. crude oil, which busted out of a five-day losing streak. The shift came after Carlo Cottarelli, nominated to be Italy's next prime minister, said there were "new possibilities" to form a government.

Stocks had plunged the previous day as investors expected gridlock to be resolved with new elections that could have turned into a yes-or-no referendum deciding whether Italy would continue to use the euro.

JJ Kinahan, chief market strategist for TD Ameritrade, said the market often reacts irregularly to political events like the uncertainty in Italy or tensions between the U.S. and North Korea: stocks often fall fast and then recover in quick fashion. That process can sometimes repeat itself weeks or months later.

"If there's no follow-up news, they tend to come back near where they started," he said. "I wouldn't count on it being done for the summer."

The S&P 500 index jumped 34.15 points, or 1.3 percent, to 2,724.01. The Dow Jones industrial average climbed 306.33 points, or 1.3 percent, to 24,667.78. The Nasdaq composite gained 65.86 points, or 0.9 percent, to 7,462.45.

While the S&P 500 and Nasdaq recovered Tuesday's losses and then some, smaller and more U.S.-focused companies did ever better as investors continued to worry about trade. Small companies finished with minor losses Tuesday, and on Wednesday they made even bigger gains than larger multinationals did. The Russell 2000 index surged 24.34 points, or 1.5 percent, and closed at a record high of 1,647.99.

The Chinese government criticized the U.S., which had renewed a threat to raise duties on some imports from China. At the same time, officials from the U.S. and European Union held talks on the tariffs the Trump administration has proposed on European steel and aluminum. European Union negotiations seemed pessimistic and said they expected the U.S. to announce a final decision Thursday.

China and the EU have both said they will react to new tariffs imposed by the U.S. with duties of their own, which has raised the prospect of greater tensions and the possibility of trade wars. Kinahan, of TD Ameritrade, said investors feel smaller companies are less vulnerable.

Multinational companies have had a rough ride lately as investors reacted to trade tensions by shifting money into smaller and more U.S.-focused companies.

"Much of their business is done domestically, so the tariffs shouldn't affect them as badly," he said. "But even if the tariffs don't happen, many of those stocks are performing well."

Italy's FTSE MIB stock index climbed 2.1 percent after a 2.7 percent drop a day earlier. Prices for Italian government bonds also rose, sending yields down following a huge surge the day before.

The euro rose to $1.1648 from $1.1531, which was its lowest level in almost a year. The dollar rose to 108.85 yen from 108.24 yen.

Germany's DAX climbed 0.9 percent while the FTSE 100 index in Britain rose 0.7 percent. The CAC 40 in France lost 0.2 percent.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.84 percent from 2.79 percent. Interest rates rose and bank stocks recovered about half of their losses from Tuesday. When rates rise, banks can make more money on mortgages and other types of loans.

Energy companies rose as U.S. crude oil climbed 2.2 percent to $68.21 per barrel in New York. Brent crude, used to price international oils, added 2.8 percent to $77.50 a barrel in London.

Exxon Mobil rose 3.9 percent to $81.50. That was its biggest one-day gain since September 2016.

Oil prices fell 7.6 percent in five days following reports OPEC countries and Russia might start producing more oil soon. Those countries cut production at the start of 2017, which helped take U.S. crude from about $50 a barrel in late 2016 to more than $70 this month. They had agreed to keep production at its current levels until the end of this year, but upheaval in Venezuela and new sanctions on Iran could change their plans.

Wholesale gasoline rose 1.9 percent to $2.18 a gallon. Heating oil gained 2.1 percent to $2.23 a gallon. Natural gas slid 0.6 percent to $2.89 per 1,000 cubic feet.

Investors also reacted to more earnings from retailers. Dick's Sporting Goods soared 25.8 percent to $38.35 after it raised its annual profit forecast. Its first-quarter report was better than expected thanks in part to strong online sales. Its decision to stop selling assault rifles and cease selling guns to people under 21 didn't appear to affect its business.

Clothing company Chico's FAS plunged 18.2 percent to $8.17 after its profit fell short of expectations and luxury retailer Michael Kors dropped 11.4 percent to $60.41 following a disappointing forecast for the year.

Gold rose 0.2 percent to $1,301.50 an ounce. Silver added 1 percent to $16.54 an ounce. Copper gained 0.2 percent to $3.07 a pound.

Japan's Nikkei 225 stock index dropped 1.5 percent and the Kospi of South Korea dropped 2. The Hang Seng in Hong Kong slipped 1.4 percent.


----------



## bigdog

https://www.usnews.com/news/busines...track-wall-street-rebound-as-italy-fears-fade

*Stocks Skid as US Imposes Tariffs and Allies Retaliate*
U.S. stocks slide after the Trump administration said it is imposing tariffs on steel and aluminum imported from Europe, Canada and Mexico.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks skidded Thursday after the Trump administration said it is imposing tariffs on steel and aluminum imported from Europe, Canada and Mexico. Canada and Mexico responded with tariffs of their own, and the European Union is expected to follow suit.

American steel makers mostly rose, while industrial companies fell as they face the prospect of paying more for metals they use to make aircraft and machinery. Companies that make household items took some of the worst losses, as products including orange juice and peanut butter might be hit with European tariffs.

Mexico is planning duties on U.S. exports including steel, pork products and sausages, while Canada said it will put reciprocal tariffs on steel and aluminum. The European Union also said it will dispute the U.S. tariffs with the World Trade Organization, which could take years.

Meanwhile the parties will likely keep negotiating, and contentious talks between the U.S. and China are continuing as well. And while experts say a trade war remains a remote possibility, all of those disputes have been weighing on the market for months, and the uncertainty that is creating has real effects.

David Kelly of JPMorgan Funds said the dragged-out process is discouraging businesses from investing because they don't want to build a product only to see it targeted by tariffs.

"You can do great harm to an economy just by leaving people up in the air about what the final deal is going to be," said Kelly, the chief global strategist of JPMorgan Funds. He said the uncertainty is undoing some of the effects of the recent corporate tax cut.

The S&P 500 index lost 18.74 points, or 0.7 percent, to 2,705.27. The Dow Jones industrial average fell 251.94 points, or 1 percent, to 24,415.84.

The Nasdaq composite dipped 20.34 points, or 0.3 percent, to 7,442.12 as technology companies like Alphabet and Facebook bucked the market's decline. The Russell 2000 index, which is made up of smaller companies that tend to do more business in the U.S., slipped 14.32 points, or 0.9 percent, to 1,633.67. It closed at a record high Wednesday.

The U.S. tariffs go into effect Friday. The Trump administration had announced them earlier but delayed their implementation to allow for talks with the EU. U.S. Steel jumped 1.7 percent to $36.87 and Century Aluminum gained 3.4 percent to $17.72. They made larger gains earlier in the day, but slipped after Canada announced reciprocal tariffs on steel and aluminum from the U.S. starting July 1.

Boeing dropped 1.7 percent to $352.16 and Caterpillar fell 2.3 percent to $151.91 while farm equipment maker Deere fell 3.6 percent to $149.51. The tariffs could increase the cost of the metals they use to make their products, and tariffs in Europe or other markets could hurt their sales.

Mexico said it would penalize U.S. imports including flat steel, cheese, fruits, pork bellies and sausage. Dairy maker Dean Foods fell 4.3 percent to $9.57 and Tyson Foods, which makes products including Jimmy Dean sausages, lost 3.9 percent to $67.47.

French officials said the EU will decide exact countermeasures in the coming weeks. European officials have threatened to retaliate against U.S. products including orange juice, peanut butter, clothing, motorcycles and bourbon. Harley-Davidson fell 2.2 percent to $41.08. Hormel, which makes Skippy peanut butter, declined 3.4 percent to $35.89.

GM said SoftBank is taking a 20 percent stake in the GM Cruise automated division. General Motors stock jumped 12.9 percent to $42.70. That was its biggest gain since GM went public again in 2010 after emerging from bankruptcy.

Discount retailers Dollar Tree and Dollar General both stumbled after they said inclement weather hurt their business in the first quarter of the year. Their results fell short of Wall Street projections and Dollar Tree cut its profit forecast for the year.

Dollar Tree fell 14.3 percent to $82.59 and Dollar General gave up 9.4 percent to $87.48.

Deutsche Bank slumped after the Wall Street Journal reported that the Federal Reserve determined the bank's U.S. business is in "troubled condition." The stock lost 4.2 percent to $11.08.

U.S. crude oil slipped 1.7 percent to $67.04 a barrel in New York. Brent crude, used to price international oils, added 0.1 percent to $77.59 per barrel in London.

Wholesale gasoline fell 1.1 percent to $2.16 a gallon. Heating oil lost 1.8 percent to $2.19 a gallon. Natural gas rose 2.3 percent to $2.95 per 1,000 cubic feet.

Bond prices edged higher. The yield on the 10-year Treasury note fell to 2.83 percent from 2.85 percent and financial companies fell.

Gold lost 0.1 percent to $1,300.10 an ounce. Silver fell 0.5 percent to $16.46 an ounce. Copper stayed at $3.07 a pound.

The dollar fell to 108.64 yen from 108.85 yen. The euro rose to $1.1685 from $1.1654.

The DAX in Germany lost 1.4 percent and France's CAC 40 fell 0.5 percent. The British FTSE 100 index dipped 0.1 percent.

Asian stocks rose following big gains in the U.S. the day before. Japan's Nikkei 225 index gained 0.8 percent and Hong Kong's Hang Seng index jumped 1.4 percent. South Korea's Kospi advanced 0.6 percent.


----------



## bigdog

https://www.usnews.com/news/busines...rn-lower-after-trade-jitter-losses-on-wall-st

*Stocks, Interest Rates Climb as Job Market Keeps Improving*
Stocks rose and interest rates shot higher after a report showed that the strengthening U.S. job market remains on course, even with worries high around the world about a possible trade battle.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Stocks climbed Friday after a report showed the U.S. job market is still revving higher, even with the specter of a possible trade war hanging over markets around the world.

The better-than-expected news on jobs helped the S&P 500 more than recover all its losses from earlier in the week. Interest rates and the value of the dollar also rose on expectations that the Federal Reserve got more justification to continue raising interest rates steadily, with its next decision due in about a week and a half.

Beyond the jobs report, stronger-than-expected readings came in on U.S. manufacturing growth and construction spending. They helped turn attention away from the worries about global trade tensions and European politics that had dragged on stocks in recent weeks.

"It's refreshing that some strong economic data today took some focus off the trade rhetoric," said Jon Adams, senior investment strategist at BMO Global Asset Management. "It's been a banner day for U.S. data overall. You look at the payrolls report, and it's hard to find too much negative in there."

The strong reports raise the likelihood that the Federal Reserve may increase short-term interest rates four times this year, rather than just three. Higher rates can hurt stock prices, but Adams said investors appear relatively prepared for the possibility "because the Fed is hiking for the right reasons."

The S&P 500 index rose 29.35 points, or 1.1 percent, to 2,734.62. For the week, it climbed 0.5 percent after scrambling back from a loss of more than 1 percent earlier.

The Dow Jones industrial average jumped 219.37, or 0.9 percent, to 24,635.21, and the Nasdaq composite rose 112.21, or 1.5 percent, to 7,554.33. The Russell 2000 of small-company stocks rose 14.37, or 0.9 percent, to 1,647.98.

Twice as many stocks rose as fell on the New York Stock Exchange.

Employers added 223,000 jobs last month, more than economists expected and a pickup from April's hiring rate of 159,000. Wages for workers also accelerated, with pay up 2.7 percent from a year ago. That's a bit faster than April's 2.6 percent wage growth.

President Donald Trump raised eyebrows when he sent out a tweet ahead of the jobs report's release that suggested it may be a good one. Treasury yields and the dollar rose modestly following the tweet, although they had steeper gains after the official release. Because the jobs report typically moves markets, government officials are not supposed to comment on it beforehand.

The encouraging data helped push the yield on the 10-year Treasury note to 2.90 percent from 2.86 percent late Thursday. The two-year yield, whose movements are dictated more by expectations for Fed movement, rose to 2.48 percent from 2.44 percent.

A quick beneficiary of higher rates can be the banking industry, which would reap bigger profits from making loans. Financial stocks in the S&P 500 rose 1.1 percent.

On the flip side were companies that pay big dividends. Higher rates make bonds more attractive to income investors and pull buyers away from dividend-paying stocks. Utility stocks in the S&P 500 fell 1.5 percent for the largest loss among the index's 11 sectors.

Another force helping stocks on Friday was relief that politicians in Italy appeared to avoid a scenario that investors had been fearing would hit markets.

Italy's anti-establishment 5-Star Movement and right-wing League succeeded Thursday in forming western Europe's first populist government. It will be headed by a political novice whose first try was rejected four days earlier as too risky for the Italian economy, but the outcome avoids an interim government and a swift return to the polls that investors had feared could end up being a referendum on Italy staying with the euro currency.

In European stock markets, France's CAC 40 rose 1.2 percent, and Germany's DAX climbed 0.9 percent. The FTSE 100 rose 0.3 percent.

In Asia, Japan's Nikkei 225 slipped 0.1 percent, the Hang Seng in Hong Kong rose 0.1 percent and the Kospi in South Korea climbed 0.7 percent.

In commodities markets, benchmark U.S. crude fell $1.23 to settle at $65.81 per barrel. Brent crude, the international standard, lost 77 cents to settle at $76.79.

Natural gas rose a penny to $2.96 per 1,000 cubic feet, heating oil fell 3 cents to $2.18 per gallon and wholesale gasoline lost 2 cents to $2.14 per gallon.

Gold slipped $5.40 to settle at $1,299.30 per ounce, silver dipped 2 cents to $16.44 per ounce and copper rose 3 cents to $3.10 per pound.

The dollar rose to 109.51 Japanese yen from 108.64 yen late Thursday. The euro fell to $1.1662 from $1.1685, and the British pound rose to $1.3346 from $1.3289.

6775


----------



## bigdog

https://www.usnews.com/news/busines...ally-on-jobs-data-despite-trade-talks-impasse

*Technology Gains Drive Nasdaq Composite to an All-Time High*
Technology companies including Apple and Alphabet post solid gains, driving the Nasdaq composite index to an all-time high.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks rose for the second consecutive day Monday with technology companies, retailers and household goods companies in the lead. Indexes of technology companies and smaller, more U.S.-focused companies both hit all-time highs.

Major technology companies including Google's parent company, Alphabet, made big gains, while Apple rose as it previewed new features and software updates at its Worldwide Developers Conference. Microsoft edged higher after it said it will buy the coder platform GitHub, while new privacy concerns weighed on shares of Facebook.

Retailers including Target, Walmart and Under Armour rallied, as did Amazon. Energy companies fell as the price of oil continued to slide.

After an up and down week last week, the S&P 500 index, a market benchmark used by many index funds, is on its first winning streak in three weeks. The technology-heavy Nasdaq composite finished at a record high, above a mark it set March 12, while the smaller Russell 2000 surpassed a record it set last week.

Last week investors reacted to political turmoil in Italy and rising trade tensions as the U.S. continued to hold talks with Chinese officials and placed tariffs on steel and aluminum imported from Europe, Mexico and Canada.

Stocks have wobbled in the last few months as investors worried that tariffs and other barriers to trade will reduce economic growth and corporate profits. But Wall Street has mostly treated the tough talk and proposed tariffs as a negotiating tactic. Invesco Chief Global Market Strategist Kristina Hooper said the U.S. crossed an important dividing line last week when, after months of talks, its aluminum and steel import duties went into effect.

"It appears that will lead to some significant retaliatory tariffs," she said. "Markets seem to treat it as if it's just rhetoric and it's just a bargaining tool, and my view is that that is foolhardy."

The S&P 500 climbed 12.25 points, or 0.4 percent, to 2,746.87. The index rose 1.1 percent Friday after a strong jobs report. The Dow Jones industrial average rose 178.48 points, or 0.7 percent, to 24,813.69. The Nasdaq composite gained 52.13 points, or 0.7 percent, to 7,606.46.

The Russell 2000 index of smaller-company stocks gained 5.39 points, or 0.3 percent, to 1,653.37.

Apple climbed 0.8 percent to $191.83 and Alphabet gained 1.6 percent to $1,153.04. Chipmaker Advanced Micro Devices added 3.1 percent to $14.85. Microsoft rose 0.9 percent to $101.67 after the company said it will pay $7.5 billion in stock for GitHub. Around 27 million software developers around the world use GitHub to share code and build businesses.

Among retailers, Target gained 4.9 percent to $76.35 and Walmart picked up 2.9 percent to $85.42 after it agreed to sell an 80 percent stake in its struggling Brazilian business.

Hooper, of Invesco, said Wall Street is overlooking the threat that tariffs pose because it's focused on solid economic news from the U.S.

"We have enough positive economic data that it's easy enough to put blinders on when it comes to threats like protectionism," she said.

The New York Times reported Sunday that Facebook struck data-sharing deals with at least 60 device makers, including Apple and Amazon, as it tried to get its app onto smartphones, and that the device companies were able to access users' friends without their explicit consent.

That renewed some investors' concerns about Facebook's handling of user data, and the stock lost 0.4 percent to $193.28.

Facebook said it maintained tight control over the technology and is not aware of any abuse by the companies that it teamed with. The stock skidded in March following allegations a firm linked to the Trump campaign improperly harvested personal data millions of Facebook users, but Wall Street's concerns about the stock gradually faded and Facebook closed at an all-time high Friday.

Energy companies traded lower as benchmark U.S. crude dropped 1.6 percent to $64.75 a barrel in New York. Brent crude, used to price international oils, fell 2 percent to $75.29 per barrel in London.

Wholesale gasoline lost 1 percent to $2.12 a gallon. Heating oil slid 1.1 percent to $2.15 a gallon. Natural gas fell 1.1 percent to $2.93 per 1,000 cubic feet.

Companies reported results from cancer drug studies at the annual meeting of the American Society of Clinical Oncology. Nektar Therapeutics plunged 41.8 percent to $52.57 after it disclosed data from a potential treatment for pancreatic cancer. Analyst Debjit Chattopadhyay of H.C. Wainwright said investors were concerned by mixed results from the study and a lack of information and a lung cancer drug study.

Nektar had made huge gains since early November. Shares of its partner Bristol-Myers Squibb lost 3.1 percent to $51.56.

Bond prices dipped. The yield on the 10-year Treasury note rose to 2.94 percent from 2.90 percent late Friday.

Gold dipped 0.2 percent to $1,297.30 an ounce. Silver fell 0.1 percent to $16.43 an ounce. Copper gained 1.2 percent to $3.13 a pound.

The dollar rose to 109.58 yen from 109.51 yen. The euro rose to $1.1719 from $1.1662.

Germany's DAX rose 0.4 percent and France's CAC 40 added 0.2 percent. Britain's FTSE 100 climbed 0.5 percent. The benchmark Nikkei 225 in Japan rose 1.4 percent and the South Korean Kospi gained 0.4 percent. Hong Kong's Hang Seng rallied 1.7 percent.


----------



## bigdog

https://www.usnews.com/news/busines...asian-markets-mixed-as-trade-war-fears-set-in

*US Stocks Edge Higher as Technology, Retail Companies Rise*
U.S. stock indexes finish mostly higher and the Nasdaq composite closes at another record high as technology firms, retailers and smaller companies continue to rise.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks finished mostly higher Tuesday as weeks of up-and-down trading, much of it related to trade tensions, gave way to smaller moves. Technology companies, retailers, and U.S.-focused companies kept rising while banks fell with interest rates.

The market spent the day alternating between small gains and losses. Technology companies like Apple and eBay rose for a third straight day and the Nasdaq composite again set an all-time high.

The Labor Department said job openings increased in April, which could help lead to higher pay and greater consumer spending. Retailers climbed, and smaller ones fared especially well following some strong first-quarter results. Larger companies like Amazon and Macy's also rose.

"When people have extra income they're going to spend it on discretionary goods," said Jason Draho, the head of asset allocation for UBS. "The jobs data would suggest a lot of job openings (and) that's going to lead to higher wage growth."

However banks fell along with interest rates and health care companies also traded lower. Starbucks fell after it said longtime Chairman Howard Schultz is leaving the company.

The S&P 500 added 1.93 points, or 0.1 percent, to 2,748.80. The Dow Jones industrial average slipped 13.71 points, or 0.1 percent, to 24,799.98. The Nasdaq composite rose 31.40 points, or 0.4 percent, to 7,637.86 and the Russell 2000 climbed 11.25 points, or 0.7 percent, to 1,664.63.

The Nasdaq, which includes a heavy weighting of technology companies, and the Russell, an index comprised of smaller and more U.S.-focused companies, are at record highs. The S&P 500 is still 4 percent below the record it set on Jan. 26, and the Dow will have to rally 7 percent to reach the mark it set the same day.

The Labor Department said that for the first time since records began in December 2000, there are more job openings than unemployed Americans. That could give workers more leverage for pay raises, while high levels of employment and greater consumer spending are expected to lead to faster economic growth in the coming months.

Retailers helped lead the way Tuesday as more of them reported quarterly results. G-III Apparel Group climbed 10.8 percent to $47.53 after it raised its annual profit and sales forecast following a strong first quarter. Ascena Retail shook off early losses and rose 7.9 percent to $3.95.

Amazon again finished at a record high after it jumped 1.9 percent to $1,696.35 while Target gained 2.8 percent to $78.50 and Macy's jumped 8 percent to $40.05.

Jason Draho of UBS said smaller companies are leading the market because they're seen as less vulnerable to tariffs and trade disputes, and because economic growth in the U.S. is picking up while Europe and other regions don't look quite as strong. He added that technology companies did well in the first quarter, and big companies including Apple and Facebook have shaken off some recent struggles.

Starbucks fell after Howard Schultz said he's stepping down as the coffee chain's chairman. Schultz has been chairman of the company since 2000 and oversaw enormous expansion for Starbucks over that time. He stepped away as CEO in 2000 but returned in 2008, and relinquished that title to Kevin Johnson in 2017. The stock lost 2.4 percent to $55.68.

S&P Dow Jones Indices said late Monday that Twitter will be added to the benchmark S&P 500 index as of Thursday after Monsanto officially becomes part of Bayer. Twitter rose 5.1 percent to $39.80. Netflix, which will become part of the S&P 100 index, rose 1.1 percent to $365.80.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.92 percent from 2.94 percent.

Financial companies fell in tandem with bond yields. Lower yields force interest rates down on mortgages and other kinds of loans, which means lower profits for banks. Morgan Stanley lost 1.5 percent to $50.78 and Capital One gave up 1.1 percent to $94.35.

Mylan climbed 3.8 percent to $39.98 after federal regulators approved its version of Amgen's anti-infection drug Neulasta. The Mylan drug, Fulphila, is called a biosimilar, meaning it's the generic equivalent of a complex biotech drug, and it's approved to reduce the risks of infections during treatment for cancer. Amgen lost 2 percent to $181.73.

Oil prices moved higher. Crude hit a three-year high of $72 a barrel on May 21 but has declined sharply over the past two weeks. U.S. crude picked up 1.2 percent to $65.52 a barrel in New York. Brent crude, used to price international oils, added 0.1 percent to $75.38 a barrel in London.

Wholesale gasoline lost 0.8 percent to $2.11 a gallon. Heating oil slipped 0.5 percent to $2.14 a gallon. Natural gas sank 1.4 percent to $2.89 per 1,000 cubic feet.

The dollar rose to 109.76 yen from 109.58 yen. The euro slipped to $1.1715 from $1.1719.

Gold rose 0.4 percent to $1,302.20 an ounce. Silver added 0.7 percent to $16.54 an ounce. Copper jumped 2 percent to $3.20 a pound.

Germany's DAX rose 0.1 percent and the French CAC 40 dipped 0.2 percent. Britain's FTSE 100 dropped 0.7 percent.

Japan's benchmark Nikkei 225 index rose 0.3 percent and South Korea's Kospi gained 0.3 percent. In Hong Kong the Hang Seng rose 0.3 percent.


----------



## bigdog

https://www.usnews.com/news/busines...in-after-wall-street-rise-ahead-of-g7-meeting

*Banks Jump as Stocks Post Their Fourth Straight Gain*
US stocks rise for the fourth day in a row as banks jump along with interest rates.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks rallied for their fourth gain in a row Wednesday as banks climbed along with bond yields. On Wall Street there were signs investors were getting a bit less nervous about trade tensions.

Some of the biggest gains went to industries that have lagged the market in the last few months, including financial companies. Interest rates rose as bond prices in the U.S. and Europe fell. That can signal higher rates on mortgages and other consumer loans. Bank of America gained more than 3 percent.

Multinational companies such as Boeing and McDonald's also rose. That helped the Dow Jones industrial average make its biggest gain in almost two months.

Worries about international trade disputes have been affecting the market since late February, but Karyn Cavanaugh, senior markets strategist at Voya Investment Management, said investors might have started focusing on the strength of the U.S. economy and continued global growth instead.

"It's refreshing to see that investors are realizing this is an incredibly good economic backdrop and it's an incredibly good environment for companies to make money," she said. "We're in a sweet spot where we have some growth and low inflation and investors just don't want to believe it."

The S&P 500 index added 23.55 points, or 0.9 percent, to 2,772.35. The Dow rose 346.61 points, or 1.4 percent, to 25,146.39. The Nasdaq composite rose 51.38 points, or 0.7 percent, to 7,689.24. The Russell 2000 index of smaller company stocks gained 11.32 points, or 0.7 percent, to 1,675.95. The Nasdaq and Russell have set all-time highs each of the last few days.

Electric car maker Tesla surged to its biggest gain in two and a half years as investors grow more confident it will meet its production targets for the Model 3 sedan. Tesla rose 9.7 percent to $319.50.

Chairman and CEO Elon Musk said he expects the company will be able to produce 5,000 Model 3s in a single week by the end of this month. The Model 3 is Tesla's attempt to reach the mass market with a less expensive car. Tesla has struggled to reach that target, and doing so would help the company stem its long-term losses.

Bond prices slipped. The yield on the 10-year Treasury note rose to 2.78 percent from 2.93 percent, and JPMorgan Chase climbed 2.3 percent to $110.36 and Wells Fargo added 2 percent to $55.58.

Banks have fallen over the last few months even though long-term interest rates have reached their highest levels in years. Health care and basic materials companies, which are essentially flat over the same period, did better than the rest of the market Wednesday. CVS Health rose 2.8 percent to $65.08 and chemical maker DowDuPont jumped 3.2 percent to $70.04.

That didn't mean investors were ready to overlook trade issues altogether. Brown-Forman, the maker of Jack Daniel's and other liquors, slumped 6.1 percent to $52.47. The company said it has concerns about how trade tensions might affect its business. On Tuesday, Mexico announced tariffs on bourbon and other U.S. products, and the European Union may place duties on Kentucky bourbon. The duties are in response to the tariffs on steel and aluminum imports that President Trump imposed last week.

Brown-Forman's sales fell short of analyst projections while costs connected with the creation of a charitable foundation affected its earnings.

Devon Energy climbed after it said it will sell its interest in two companies for a total of $3.13 billion. Global Infrastructure Partners will buy its stakes in EnLink Midstream Partners and EnLink Midstream LLC. Devon increased its stock buyback authorization and the stock gained 5.6 percent to $41.51.

Signet Jewelers soared after the company had a stronger first quarter than Wall Street expected and said there are signs its sales are stabilizing. The company also maintained its annual forecasts. Signet traded as high as $75 a share in November. Since then it's reported weak sales, announced more store closings, and dealt with complications from the sale of its credit portfolio. The stock rose 18.4 percent to $52.27 Wednesday.

Athenahealth, a medical billing software company, climbed after it said it is exploring a possible sale. Investor Elliott Management recently offered about $6.5 billion to take Athenahealth private and said it had grown frustrated with the company's performance.

The company also said CEO Jonathan Bush resigned effective immediately. A few days earlier the New York Post reported that Bush settled a sexual harassment claim with a former employee several years ago. The stock advanced 4.2 percent to $157.44.

Benchmark U.S. crude shed 1.2 percent to $64.73 a barrel in New York. Brent crude, used to price international oils, inched down to $75.36 per barrel in London.

Wholesale gasoline fell 1.7 percent to $2.07 a gallon. Heating oil slid 0.7 percent to $2.13 a gallon. Natural gas rose 0.2 percent to $2.90 per 1,000 cubic feet.

Gold fell 0.1 percent to $1,301.40 an ounce. Silver rose 0.9 percent to $16.69 an ounce. Copper gained 2 percent to $3.26 a pound.

The dollar rose to 110.19 yen from 109.76 yen. The euro rose to $1.1768 from $1.1715.

The DAX in Germany rose 0.3 percent, as did the FTSE 100 in Britain. France's CAC 40 lost 0.1 percent. Tokyo's Nikkei 225 rose 0.4 percent and Hong Kong's Hang Seng advanced 0.4 percent. South Korean markets were closed for a holiday.


----------



## Skate

bigdog said:


> View attachment 87717
> 
> 
> https://www.usnews.com/news/busines...in-after-wall-street-rise-ahead-of-g7-meeting
> 
> *Banks Jump as Stocks Post Their Fourth Straight Gain*
> US stocks rise for the fourth day in a row as banks jump along with interest rates.
> 
> By MARLEY JAY, AP Markets Writer
> 
> NEW YORK (AP) — U.S. stocks rallied for their fourth gain in a row Wednesday as banks climbed along with bond yields. On Wall Street there were signs investors were getting a bit less nervous about trade tensions.
> 
> Some of the biggest gains went to industries that have lagged the market in the last few months, including financial companies. Interest rates rose as bond prices in the U.S. and Europe fell. That can signal higher rates on mortgages and other consumer loans. Bank of America gained more than 3 percent.
> 
> Multinational companies such as Boeing and McDonald's also rose. That helped the Dow Jones industrial average make its biggest gain in almost two months.
> 
> Worries about international trade disputes have been affecting the market since late February, but Karyn Cavanaugh, senior markets strategist at Voya Investment Management, said investors might have started focusing on the strength of the U.S. economy and continued global growth instead.
> 
> "It's refreshing to see that investors are realizing this is an incredibly good economic backdrop and it's an incredibly good environment for companies to make money," she said. "We're in a sweet spot where we have some growth and low inflation and investors just don't want to believe it."
> 
> The S&P 500 index added 23.55 points, or 0.9 percent, to 2,772.35. The Dow rose 346.61 points, or 1.4 percent, to 25,146.39. The Nasdaq composite rose 51.38 points, or 0.7 percent, to 7,689.24. The Russell 2000 index of smaller company stocks gained 11.32 points, or 0.7 percent, to 1,675.95. The Nasdaq and Russell have set all-time highs each of the last few days.
> 
> Electric car maker Tesla surged to its biggest gain in two and a half years as investors grow more confident it will meet its production targets for the Model 3 sedan. Tesla rose 9.7 percent to $319.50.
> 
> Chairman and CEO Elon Musk said he expects the company will be able to produce 5,000 Model 3s in a single week by the end of this month. The Model 3 is Tesla's attempt to reach the mass market with a less expensive car. Tesla has struggled to reach that target, and doing so would help the company stem its long-term losses.
> 
> Bond prices slipped. The yield on the 10-year Treasury note rose to 2.78 percent from 2.93 percent, and JPMorgan Chase climbed 2.3 percent to $110.36 and Wells Fargo added 2 percent to $55.58.
> 
> Banks have fallen over the last few months even though long-term interest rates have reached their highest levels in years. Health care and basic materials companies, which are essentially flat over the same period, did better than the rest of the market Wednesday. CVS Health rose 2.8 percent to $65.08 and chemical maker DowDuPont jumped 3.2 percent to $70.04.
> 
> That didn't mean investors were ready to overlook trade issues altogether. Brown-Forman, the maker of Jack Daniel's and other liquors, slumped 6.1 percent to $52.47. The company said it has concerns about how trade tensions might affect its business. On Tuesday, Mexico announced tariffs on bourbon and other U.S. products, and the European Union may place duties on Kentucky bourbon. The duties are in response to the tariffs on steel and aluminum imports that President Trump imposed last week.
> 
> Brown-Forman's sales fell short of analyst projections while costs connected with the creation of a charitable foundation affected its earnings.
> 
> Devon Energy climbed after it said it will sell its interest in two companies for a total of $3.13 billion. Global Infrastructure Partners will buy its stakes in EnLink Midstream Partners and EnLink Midstream LLC. Devon increased its stock buyback authorization and the stock gained 5.6 percent to $41.51.
> 
> Signet Jewelers soared after the company had a stronger first quarter than Wall Street expected and said there are signs its sales are stabilizing. The company also maintained its annual forecasts. Signet traded as high as $75 a share in November. Since then it's reported weak sales, announced more store closings, and dealt with complications from the sale of its credit portfolio. The stock rose 18.4 percent to $52.27 Wednesday.
> 
> Athenahealth, a medical billing software company, climbed after it said it is exploring a possible sale. Investor Elliott Management recently offered about $6.5 billion to take Athenahealth private and said it had grown frustrated with the company's performance.
> 
> The company also said CEO Jonathan Bush resigned effective immediately. A few days earlier the New York Post reported that Bush settled a sexual harassment claim with a former employee several years ago. The stock advanced 4.2 percent to $157.44.
> 
> Benchmark U.S. crude shed 1.2 percent to $64.73 a barrel in New York. Brent crude, used to price international oils, inched down to $75.36 per barrel in London.
> 
> Wholesale gasoline fell 1.7 percent to $2.07 a gallon. Heating oil slid 0.7 percent to $2.13 a gallon. Natural gas rose 0.2 percent to $2.90 per 1,000 cubic feet.
> 
> Gold fell 0.1 percent to $1,301.40 an ounce. Silver rose 0.9 percent to $16.69 an ounce. Copper gained 2 percent to $3.26 a pound.
> 
> The dollar rose to 110.19 yen from 109.76 yen. The euro rose to $1.1768 from $1.1715.
> 
> The DAX in Germany rose 0.3 percent, as did the FTSE 100 in Britain. France's CAC 40 lost 0.1 percent. Tokyo's Nikkei 225 rose 0.4 percent and Hong Kong's Hang Seng advanced 0.4 percent. South Korean markets were closed for a holiday.




It's unusual that bigdog didn't post today.

Just checking - RUOK bigdog?

Skate


----------



## Joe Blow

Skate said:


> It's unusual that bigdog didn't post today.
> 
> Just checking - RUOK bigdog?




Yes, I noticed too. Bigdog, give us a shout out to let us know you're OK.


----------



## bigdog

*Was intransit back from Phuket and delayed landing this morning due to only one runway

I was posting at after 4:00 AM Thailand time for week

Thank you skate and joe blow*





*This is live indexes in our region as at 12:28 PM*





https://www.usnews.com/news/business/articles/2018-06-07/asian-stocks-higher-after-wall-street-gains

*Mixed Finish for Stocks as Energy Rises and Tech Drops*
U.S. stocks finish mixed as energy companies rise with the price of crude oil but technology companies including Facebook and Lam Research take their worst loss in six weeks.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks closed mixed Thursday as technology companies took their worst loss in six weeks, but energy companies rose with oil prices. A four-day winning streak for the S&P 500 index ended.

Energy companies rallied as the price of U.S. crude oil rose almost 2 percent. Smaller companies fell. Like technology companies, they've done far better than the rest of the market in the last few weeks. Some stocks that have struggled lately, including utilities, finished with gains.

Household goods makers also broke from their recent losses to finish higher. J.M. Smucker dropped after issuing a weak quarterly report and a disappointing forecast for the year. Bond prices climbed and yields dipped.

Quincy Krosby, the chief market strategist at Prudential Financial, said investors were playing it safe as they wait for leaders of the Group of Seven to meet Friday and Saturday, and for European Central Bank and Federal Reserve meetings next week.

"This G-7 meeting does not follow the historical template," she said. "The market is concerned about tariffs, negative trade dialogue coming from that meeting."

Still, Krosby said it's a good sign that investors were willing to take some of their winnings from the technology sector and put it into other parts of the market.

The S&P 500 index lost 1.98 points, or 0.1 percent, to 2,770.37. The Dow Jones industrial average picked up 95.02 points, or 0.4 percent, to 25,241.41, helped by big gains for McDonald's and Chevron.

The Nasdaq composite slumped 54.17 points, or 0.7 percent, to 7,635.07. The Russell 2000 index of small-company stocks slid 8.17 points, or 0.5 percent, to 1,667.77. Both of those indexes set all-time highs the last few days.

More stocks rose than fell on the New York Stock Exchange.

Benchmark U.S. crude rose 1.9 percent to $65.95 per barrel in New York. Brent crude, used to price international oils, gained 2.6 percent to $77.32 per barrel in London.

Chevron jumped 2.9 percent to $126.96 and Exxon Mobil rose 1 percent to $82.88.

Commerce Secretary Wilbur Ross said the U.S. government has reached a deal with Chinese telecommunications giant ZTE that includes a $1 billion fine, monitoring and leadership changes. ZTE has already paid about $1 billion for selling equipment to North Korea and Iran in violation of U.S. sanctions. In April the department blocked ZTE from importing any U.S. components for seven years, which threatened to put the company out of business.

The Wall Street Journal said that with the ZTE matter settled, China's government will likely approve a deal for Qualcomm to buy NXP Semiconductors. Qualcomm added 1.3 percent to $60.64 and NXP rose 4.8 percent to $120.07.

Technology stocks have fared far better than the rest of the market for more than a year, but they broke from that pattern Thursday. Facebook lost 1.7 percent to $188.18 and Microsoft fell 1.6 percent to $100.88. Chipmaker Lam Research shed 5.4 percent to $188.83.

Smucker's profit and sales fell short of analyst estimates, as did the company's forecasts for the new fiscal year. The maker of jams, jellies and other foods said it is facing difficulties including higher raw materials and freight costs and rising interest rates. The stock lost 5.4 percent to $100.80.

Allergan jumped 5.1 percent to $163.27 after Bloomberg News reported that investor Carl Icahn bought a small stake in the Botox maker. Bloomberg had no details on Icahn's plans, but he could join other activist investors who are pushing the company to make bigger changes.

At the end of May the company finished a strategic review and said it could sell its infectious disease and women's health businesses. But on Tuesday, Senator Investment Group and Appaloosa sent Allergan a letter saying they were "underwhelmed," and they suggested splitting Allergan's CEO and chairman roles and making changes to its board. Allergan stock is down 28 percent over the last 12 months.

The dollar fell to 109.60 yen from 110.19 yen. The euro rose to $1.1813 from $1.1768 after a European Central Bank board member said policymakers will discuss ending the bank's bond-purchasing stimulus program next week.

The Federal Reserve, meanwhile, is expected to raise interest rates on Wednesday. That would be the second increase in rates this year, and the Fed has said it expects to raise rates three times in 2018. But investors are looking for clues the Fed is planning a fourth increase.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.92 percent from 2.97 percent.

In other energy trading, wholesale gasoline rose 2.2 percent to $2.11 a gallon. Heating oil jumped 2.5 percent to $2.18 a gallon. Natural gas climbed 1.2 percent to $2.93 per 1,000 cubic feet.

Gold rose 0.1 percent to $1,303 an ounce. Silver added 0.7 percent to $16.82 an ounce. Copper gained 0.4 percent to $3.28 a pound.

Germany's DAX lost 0.1 percent and the CAC 40 in France slid 0.2 percent. Britain's FTSE 100 slipped 0.1 percent after London's stock exchange opened one hour late because of a technical problem.

Japan's Nikkei 225 jumped 0.9 percent while the Kospi in South Korea finished up 0.7 percent and Hong Kong's Hang Seng index advanced 0.8 percent.


----------



## Skate

bigdog said:


> *Was intransit back from Phuket and delayed landing this morning due to only one runway
> 
> I was posting at after 4:00 AM Thailand time for week
> 
> Thank you skate and joe blow*
> View attachment 87747
> 
> 
> *This is live indexes in our region as at 12:28 PM*
> View attachment 87748
> 
> 
> https://www.usnews.com/news/business/articles/2018-06-07/asian-stocks-higher-after-wall-street-gains
> 
> *Mixed Finish for Stocks as Energy Rises and Tech Drops*
> U.S. stocks finish mixed as energy companies rise with the price of crude oil but technology companies including Facebook and Lam Research take their worst loss in six weeks.
> 
> By MARLEY JAY, AP Markets Writer
> 
> NEW YORK (AP) — U.S. stocks closed mixed Thursday as technology companies took their worst loss in six weeks, but energy companies rose with oil prices. A four-day winning streak for the S&P 500 index ended.
> 
> Energy companies rallied as the price of U.S. crude oil rose almost 2 percent. Smaller companies fell. Like technology companies, they've done far better than the rest of the market in the last few weeks. Some stocks that have struggled lately, including utilities, finished with gains.
> 
> Household goods makers also broke from their recent losses to finish higher. J.M. Smucker dropped after issuing a weak quarterly report and a disappointing forecast for the year. Bond prices climbed and yields dipped.
> 
> Quincy Krosby, the chief market strategist at Prudential Financial, said investors were playing it safe as they wait for leaders of the Group of Seven to meet Friday and Saturday, and for European Central Bank and Federal Reserve meetings next week.
> 
> "This G-7 meeting does not follow the historical template," she said. "The market is concerned about tariffs, negative trade dialogue coming from that meeting."
> 
> Still, Krosby said it's a good sign that investors were willing to take some of their winnings from the technology sector and put it into other parts of the market.
> 
> The S&P 500 index lost 1.98 points, or 0.1 percent, to 2,770.37. The Dow Jones industrial average picked up 95.02 points, or 0.4 percent, to 25,241.41, helped by big gains for McDonald's and Chevron.
> 
> The Nasdaq composite slumped 54.17 points, or 0.7 percent, to 7,635.07. The Russell 2000 index of small-company stocks slid 8.17 points, or 0.5 percent, to 1,667.77. Both of those indexes set all-time highs the last few days.
> 
> More stocks rose than fell on the New York Stock Exchange.
> 
> Benchmark U.S. crude rose 1.9 percent to $65.95 per barrel in New York. Brent crude, used to price international oils, gained 2.6 percent to $77.32 per barrel in London.
> 
> Chevron jumped 2.9 percent to $126.96 and Exxon Mobil rose 1 percent to $82.88.
> 
> Commerce Secretary Wilbur Ross said the U.S. government has reached a deal with Chinese telecommunications giant ZTE that includes a $1 billion fine, monitoring and leadership changes. ZTE has already paid about $1 billion for selling equipment to North Korea and Iran in violation of U.S. sanctions. In April the department blocked ZTE from importing any U.S. components for seven years, which threatened to put the company out of business.
> 
> The Wall Street Journal said that with the ZTE matter settled, China's government will likely approve a deal for Qualcomm to buy NXP Semiconductors. Qualcomm added 1.3 percent to $60.64 and NXP rose 4.8 percent to $120.07.
> 
> Technology stocks have fared far better than the rest of the market for more than a year, but they broke from that pattern Thursday. Facebook lost 1.7 percent to $188.18 and Microsoft fell 1.6 percent to $100.88. Chipmaker Lam Research shed 5.4 percent to $188.83.
> 
> Smucker's profit and sales fell short of analyst estimates, as did the company's forecasts for the new fiscal year. The maker of jams, jellies and other foods said it is facing difficulties including higher raw materials and freight costs and rising interest rates. The stock lost 5.4 percent to $100.80.
> 
> Allergan jumped 5.1 percent to $163.27 after Bloomberg News reported that investor Carl Icahn bought a small stake in the Botox maker. Bloomberg had no details on Icahn's plans, but he could join other activist investors who are pushing the company to make bigger changes.
> 
> At the end of May the company finished a strategic review and said it could sell its infectious disease and women's health businesses. But on Tuesday, Senator Investment Group and Appaloosa sent Allergan a letter saying they were "underwhelmed," and they suggested splitting Allergan's CEO and chairman roles and making changes to its board. Allergan stock is down 28 percent over the last 12 months.
> 
> The dollar fell to 109.60 yen from 110.19 yen. The euro rose to $1.1813 from $1.1768 after a European Central Bank board member said policymakers will discuss ending the bank's bond-purchasing stimulus program next week.
> 
> The Federal Reserve, meanwhile, is expected to raise interest rates on Wednesday. That would be the second increase in rates this year, and the Fed has said it expects to raise rates three times in 2018. But investors are looking for clues the Fed is planning a fourth increase.
> 
> Bond prices rose. The yield on the 10-year Treasury note fell to 2.92 percent from 2.97 percent.
> 
> In other energy trading, wholesale gasoline rose 2.2 percent to $2.11 a gallon. Heating oil jumped 2.5 percent to $2.18 a gallon. Natural gas climbed 1.2 percent to $2.93 per 1,000 cubic feet.
> 
> Gold rose 0.1 percent to $1,303 an ounce. Silver added 0.7 percent to $16.82 an ounce. Copper gained 0.4 percent to $3.28 a pound.
> 
> Germany's DAX lost 0.1 percent and the CAC 40 in France slid 0.2 percent. Britain's FTSE 100 slipped 0.1 percent after London's stock exchange opened one hour late because of a technical problem.
> 
> Japan's Nikkei 225 jumped 0.9 percent while the Kospi in South Korea finished up 0.7 percent and Hong Kong's Hang Seng index advanced 0.8 percent.




It appears we can all sleep easy tonight...

Skate


----------



## bigdog

https://www.usnews.com/news/busines...fall-ahead-of-g7-summit-central-bank-meetings

*After an Early Stumble, US Stock Indexes End Modestly Higher*
The stock market shook off a bumpy start and ended modestly higher, led by gains in consumer products companies like Monster Beverage and Procter & Gamble.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — The stock market shook off a bumpy start and ended modestly higher Friday, led by gains in consumer products companies like Monster Beverage and Procter & Gamble. Health care companies also rose. Energy companies slipped along with the price of oil.

Trading has been muted ahead of the Group of Seven summit in Quebec, which began Friday. The meeting is expected to be tense as other leaders confront President Donald Trump over his protectionist trade policies.

Consumer products companies, which have been out of favor the last few months, rose for the second day in a row. Overall, major indexes were mostly higher after posting small losses the day before.

The G-7 meeting was set to be unusually contentious, as leaders of France and Canada in particular have expressed in tough terms their disapproval of the tariffs President Donald Trump recently imposed on steel and aluminum imports. Trump is expected to leave the summit on Saturday before it officially concludes as he heads to Singapore ahead of his meeting with North Korean leader Kim Jong Un.

Trade tensions have been rattling markets for the last three months, and the G-7 summit isn't expected to deliver much relief. That said, there could be a silver lining to the ongoing talks between the U.S. and its trading partners over the highly unpopular U.S. tariffs, according to Scott Wren, senior global equity strategist for the Wells Fargo Investment Institute.

"The end result probably is going to be lower tariffs across the board," Wren said. Wren said that ultimately a large number of older tariffs that are currently levied on U.S. imports and exports could be reduced or eliminated.

The S&P 500 index added 8.66 points, or 0.3 percent, to 2,779.03. The Dow Jones industrial average rose 75.12 points, or 0.3 percent, to 25,316.53. The Nasdaq composite gained 10.44 points, or 0.1 percent, to 7,645.51.

The Russell 2000 index of smaller-company stocks rose 4.72 points, or 0.3 percent, to 1,672.49. Smaller and more U.S.-focused stocks have fared better than the rest of the market in recent months as investors worry that trade frictions could impact large multinational companies. The Russell is on a six-week winning streak.

Wall Street appeared to get ever so slightly less worried about the trade situation this week. The Dow has taken a bigger hit from the trade disputes than other U.S. indexes, but this week was its best in three months. The Nasdaq and Russell 2000 reached all-time highs on Wednesday.

Among consumer products makers, Monster Beverage climbed 5 percent to $55.48 after its annual shareholder meeting. Stifel analyst Mark Astrachan said the company's sales growth is solid. He said the company plans to raise its U.S. prices later this year in response to higher aluminum prices.

Tide maker Procter & Gamble gained 1.9 percent to $77.18. Cigarette maker Philip Morris International rose 2.6 percent to $79.42 after it raised its quarterly dividend, while Reuters said the company plans to start selling its tobacco-heating Iqos device in India.

U.S. crude slid 0.3 percent to $65.74 a barrel in New York. Brent crude, used to price international oils, fell 0.6 percent to $76.82 per barrel in London.

Wholesale gasoline stayed at $2.12 a gallon. Heating oil shed 0.7 percent to $2.16 a gallon. Natural gas fell 1.4 percent to $2.89 per 1,000 cubic feet.

Energy companies followed suit. Halliburton slumped 1.7 percent to $48.10 and Noble Energy lost 2.3 percent to $34.06.

Wall Street will be focused on central banks even more than usual next week as the European Central Bank and Federal Reserve both hold major meetings. Wren, of Wells Fargo, said the ECB will probably start to pare back its economic stimulus even though the European economy slowed in the first quarter.

Investors are nearly certain the Fed will raise interest rates for the second time this year, out of three the Fed says it's planning. If the Fed hints it's considering a fourth increase later in the year, it might jolt the stock market.

"Any more than three hikes this year is a headwind for equities," said Wren.

Online clothing retailer Stitch Fix jumped 26.5 percent to $24.88 after it beat Wall Street's expectations in its fiscal third quarter.

Toymaker Funko continued to rally, climbing 6.1 percent to $11.99. The company went public in November and its stock fell 50 percent through the end of 2017. It's up 80 percent this year and virtually back to its IPO price of $12.

Bond prices edged lower. The yield on the 10-year Treasury note rose to 2.94 percent from 2.93 percent.

Gold was little changed at $1,302.70 an ounce. Silver declined 0.4 percent to $16.74 an ounce. Copper rose 0.8 percent to $3.30 a pound, its highest price this year.

The dollar dipped to 109.47 yen from 109.71 yen. The euro fell to $1.1769 from $1.1809.

Germany's DAX was down 0.3 percent and so was the FTSE 100 index in Britain. The CAC 40 in France rose less than 0.1 percent. Japan's benchmark Nikkei 225 shed 0.6 percent and South Korea's Kospi lost 0.8 percent. In Hong Kong, the Hang Seng slipped 1.9 percent.

7083


----------



## bigdog

QUEENS BIRTHDAY HOLIDAY MONDAY JUNE 11 IN AUSTRALIA AND NEW ZEALAND 






https://finance.yahoo.com/news/stock-markets-higher-ahead-trump-kim-meeting-140916587--finance.html

*Stock markets rise slightly ahead of Trump-Kim meeting*




Ken Sweet, AP Business Writer

NEW YORK (AP) -- U.S. and global markets rose modestly on Monday, as investors made preparations for President Donald Trump's meeting with North Korean leader Kim Jong Un in Singapore.

European investors also focused on Italy's new government, and its future using the euro.

The Dow Jones industrial average rose 5.78 points, or less than 0.1 percent, to 25,322.31. The Standard & Poor's 500 index rose 2.97 points, or 0.1 percent, to 2,782.00 and the Nasdaq composite rose 14.41 points, or 0.2 percent, to 7,659.93.

Investors spent most of Monday waiting for Tuesday's meeting between Trump and Kim, aimed at settling a standoff over the North's nuclear arsenal. North Korea has reportedly said it is willing to deal away its entire nuclear arsenal if the United States provides it with reliable security assurances and other benefits. But many say Kim's government is unlikely to give up weapons that help guarantee its survival.

If successful, the meeting would lower geopolitical tensions in an area that involves three of the world's largest economies: South Korea, Japan and China.

"There's a lot of potential volatility that could come this week: we have the Trump-Kim summit and the central bank meetings," said Ryan Larson, head of U.S. equity trading at RBC Capital Markets. "A lot of the tone for this week will be set out in Trump's meeting with Kim."

The Federal Reserve will start a two-day meeting on interest rates on Tuesday, wrapping up on Wednesday. Investors expect the nation's central bank to raise interest rates from their current level of 1.75 percent to 2 percent, but most attention will be on how many rate hikes Fed officials are considering doing later this year.

Investors showed little concern over the swipes that Trump took at Canadian Prime Minister Justin Trudeau over the weekend and Monday. Trump roiled a weekend meeting of the Group of Seven major industrial economies by agreeing to a group statement only to rapidly withdraw from it while complaining about Trudeau's criticism of his tariff threats.

After leaving Canada, Trump called Trudeau "dishonest" and "weak" on Twitter. German Chancellor Angela Merkel said she found Trump's tweet disavowing the G-7 statement "a little depressing."

Italy's markets jumped after the economy minister said the country's new populist government isn't considering leaving the eurozone or adding to the high public debt load. The statement was the strongest yet on the topic from an official in the new government. Markets fell sharply last month on worries that the new administration might consider pulling Italy out of the euro or weakening its role in the currency.

European markets closed broadly higher. Italy's main stock index jumped 3.4 percent, Germany's DAX rose 0.6 percent and France's CAC-40 index rose 0.4 percent.

In individual company news, utility company PG&E dropped $1.64, or 4 percent, to $39.81 after California authorities said a series of wildfires were caused by PG&E's equipment, raising liability implications for the company.

Boston Scientific jumped $2.32, or 7.2 percent, to $34.31 after The Wall Street Journal reported that that Stryker offered to purchase the medical device company. Stryker shares fell $9.31, or 5.2 percent, to $169.62.

In energy, benchmark U.S. crude closed up 36 cents to $66.10 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, used to price international oils, was unchanged at $76.46 per barrel in London

In the metals markets, gold rose 80 cents to $1,298.90 a troy ounce, silver rose 21 cents to $16.95 an ounce and copper fell four cents to $3.257 a pound.


----------



## bigdog

https://www.usnews.com/news/busines...al-stock-markets-mixed-after-trump-kim-summit

*Stocks Mostly Rise Following Trump-Kim Summit*
U.S. and global stock markets mostly rose Tuesday as investors reacted calmly to the outcome of a meeting between President Donald Trump and North Korean leader Kim Jong Un.

By KEN SWEET, AP Business Writer

NEW YORK (AP) — Stocks mostly rose in a quiet Tuesday session, as investors reacted calmly to the outcome of a meeting between President Donald Trump and North Korean leader Kim Jong Un, and turned their attentions to this week's trio of central bank meetings.

The Standard & Poor's 500 index rose 4.85 points, or 0.2 percent, to 2,786.85, closing at its highest level since February 1. The Nasdaq composite added 43.87 points, or 0.6 percent, to 7,703.79 and the Dow Jones industrial average fell 1.58 points, or less than 0.1 percent, to 25,320.73. The Russell 2000, an index that makes up mostly small companies, rose 7.62 points, or 0.5 percent, to 1,682.30.

Both the Russell and the Nasdaq set new record highs.

Trump and Kim concluded their summit by committing to working "toward complete denuclearization of the Korean Peninsula" and to "build a lasting and stable peace regime" on the Korean Peninsula.

The broad promises largely reiterated past agreements, while many of the details were left vague and there was no agreement on ending the technical state of war between North and South Korea. A potential deal has the chance of lowering geopolitical tensions in a region surrounded by three of the world's largest economies: Japan, China and South Korea.

"Deal or no deal? Just don't ask what comprises a 'deal' and we are fine. At the risk of sounding a tad frivolous, that appears to be the truth of the matter," said Vishnu Varathan of Mizuho Bank in Singapore of the Trump-Kim summit.

Following the Trump-Kim summit, shares of weapons makers and defense contractors were among the biggest decliners in the S&P 500. Raytheon lost nearly 3 percent to $206.61, Lockheed Martin fell 1.3 percent to $315.16 and Northrop Grumman fell 1.5 percent to $329.35.

With geopolitical issues set aside, investors turned their attention toward the current health of the U.S. economy.

The Federal Reserve started a two-day meeting on interest rates on Tuesday. Investors expect the central bank to raise its benchmark rate by a quarter of a percentage point to a range of 1.75-2 percent. However investors' attention will focus more on how many additional rate hikes Fed officials may do this year.

The government said that U.S. consumer prices rose 0.2 percent in May, with surging gasoline costs driving much of the increase. The Labor Department said Tuesday that the consumer price index climbed 2.8 percent last month from a year earlier, putting inflation on its fastest annual pace since February 2012. But core prices — which exclude the volatile food and energy categories — have risen a milder 2.2 percent over the past 12 months.

Fed officials have been closely watching inflation data, since they have a target of inflation being roughly 2 percent per year. Since core inflation is still tame likely means that the Federal Reserve will raise interest rates only gradually.

On Thursday, the European Central Bank will meet and could outline an end to its stimulus program, while on Friday the Bank of Japan is due to give its latest policy update.

After the market close, investors welcomed news that the $85 billion merger between AT&T and Time Warner will be allowed to go through. The Trump administration had sued to block the proposed merger and a rejection likely would have chilled possible multi-billion dollar deals between 21st Century Fox and Walt Disney; Verizon and CBS; and T-Mobile and Sprint.

Following the judge's decision, shares of Time Warner rose 4 percent and AT&T shares fell 2 percent

Shares of electrical car company Tesla rose $10.67, or 3 percent, to $342.77 after the company announced it would lay off 9 percent of its work force in order to boost profitability. The layoffs target white collar staff, not production workers.

Benchmark U.S. crude closed up 26 cents to $66.36 a barrel. Brent crude, used to price international oils, fell 69 cents to $75.77 per barrel in London.

The yield on the 10-year Treasury note rose to 2.96 percent. The dollar strengthened versus the Japanese yen, the euro and the British pound.

Gold prices fell $3.80 to $1,295.10 an ounce, silver fell 6 cents to $16.89 an ounce and copper fell less than a penny to $3.2495 a pound.


----------



## bigdog

https://www.usnews.com/news/busines...al-stock-markets-mixed-after-trump-kim-summit

*Stocks Slip After Fed Says Interest Rates Will Rise Faster*
US stocks finish lower after the Federal Reserve raises interest rates for the second time this year and says it expects to increase rates two more times this year.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks slipped Wednesday after the Federal Reserve raised interest rates and said it expects to increase rates two more times by the end of the year. Investors bet that several huge deals are more likely to happen after a federal court cleared AT&T's $85 billion purchase of Time Warner.

Wall Street was already certain the Fed would raise interest rates Wednesday. The central bank's decision makers also said they plan to raise rates two more times later this year for a total of four increases. Investors had debated all year if rates would rise three or four times, and some are concerned that if rates rise that quickly, it could stifle economic growth because consumers and businesses will have to pay more to borrow money.

The Fed's projections might have been unwelcome, but they weren't a shock: for months there have been signs the economy is getting stronger. Another came on Wednesday, when the Labor Department said wholesale prices climbed at a faster pace in May. The Fed says inflation is likely to increase and projects unemployment will hit a 50-year low in a few months, and it wants to keep inflation under control.

"There was nothing terribly surprising in the announcement," said Jeremy Zirin, head of investment strategy for UBS' global wealth management business. He said the Fed's new forecasts "appeared largely to simply reflect the economic reality of the last two or three months."

He added that the Fed didn't have a big change of heart either: the Fed's projections changed because one additional policymaker forecast four rate increases instead of three.

The ruling in the AT&T-Time Warner trial sent ripples through the media and telecommunications industries. Shares of Twenty-First Century Fox jumped as investors anticipated Comcast's offer for Fox's entertainment businesses. It came just after trading ended, as Comcast announced a $65 billion bid. The ruling also gave investors more confidence that two big takeovers in the health care field will now go through.

The S&P 500 index fell 11.22 points, or 0.4 percent, to 2,775.63 after it closed at a four-month high Tuesday. The Dow Jones industrial average lost 119.53 points, or 0.5 percent, to 25,201.20.

The Nasdaq composite slipped 8.09 points, or 0.1 percent, to 7,695.70. The Russell 2000 index of smaller-company stocks shed 5.76 points, or 0.3 percent, to 1,676.54.points. Both indexes finished at record highs Tuesday.

Judge Richard Leon said AT&T can buy Time Warner and rejected the government's argument that the deal would stifle competition and lead to higher cable bills. The purchase will give the wireless and cable giant control of CNN, HBO and the Warner Bros. movie studio. Time Warner climbed 1.8 percent to $97.95 while AT&T lost 6.2 percent to $32.22.

Media companies rallied. Netflix gained 4.4 percent to $379.93 and CBS gained 3.6 percent to $54.26.

Comcast had said it was preparing to make an offer for Fox's entertainment divisions, but was waiting for the judge's ruling. Fox jumped 7.7 percent to $43.66 Wednesday and was little changed in late trading. Comcast fell 0.2 percent to $32.32.

Fox has agreed to sell those businesses to Disney for $52.4 billion in stock, setting up the possibility that Disney will have to raise its offer. However Disney added 1.9 percent to $106.31.

Investors now view CVS's effort to buy health insurer Aetna as more likely to go through, and they felt similarly about Cigna's offer for pharmacy benefits manager Express Scripts. T-Mobile USA and Sprint made smaller gains. Investors have been skeptical the government would allow the third- and fourth-largest wireless carriers to combine.

Erik Gordon, a professor at the University of Michigan's Ross School of Business, said the ruling is probably a good sign for the two health care deals because, like AT&T and Time Warner, those acquisitions won't reduce the number of companies competing in an industry, unlike a Sprint-T-Mobile merger. But investors might be drawing overly broad conclusions from Leon's ruling, Gordon said.

"The judge's decision is based on some very particular facts of the AT&T-Time Warner case," he said, including the growing popularity of streaming services and greater competition for advertising revenue. "This isn't a case that's about a big sweeping legal philosophy."

Bond prices turned lower as investors expected interest rates to rise. The yield on the 10-year Treasury note rose to 2.97 percent from 2.96 percent late Tuesday.

The dollar rose to 110.55 yen from 110.33 yen. The euro rose to $1.1773 from $1.1750.

Benchmark U.S. crude rose 0.4 percent to $66.64 a barrel in New York. Brent crude, used to price international oils, gained 1.1 percent to $76.74 per barrel in London.

Wholesale gasoline added 1.7 percent to $2.13 a gallon. Heating oil picked up 1.1 percent to $2.19 a gallon. Natural gas advanced 0.8 percent to $2.97 per 1,000 cubic feet.

Gold added 0.1 percent to $1,301.30 an ounce. Silver gained 0.6 percent to $16.99 an ounce. Copper inched up 0.1 percent to $3.25 a pound.

Germany's DAX rose 0.4 percent. France's CAC 40 and the FTSE 100 in Britain took tiny losses.

The Nikkei 225 in Japan rose 0.4 percent and South Korea's Kospi fell less than 0.1 percent. Hong Kong's Hang Seng dropped 1.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines...cks-slump-after-fed-signals-faster-rate-hikes

*Stocks Rise as Economy Strengthens, Central Banks Step Back*
US stocks ticked higher Thursday after Europe's central bank laid out how it will close the spigot on the emergency stimulus it's flooded the market with in recent years.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks mostly rose Thursday, as markets get accustomed to the idea of investing with less of a safety net from central banks around the world.

The European Central Bank laid out its plan to pull back from the stimulus it's pumped into markets, but it also said it plans to hold off on raising interest rates for longer than some investors expected. More evidence arrived that the U.S. economy is improving, meanwhile, which helped send the S&P 500 to its fourth gain in the last five days.

The S&P 500 index rose 6.86 points, or 0.2 percent, to 2,782.49. The Dow Jones industrial average slipped 25.89, or 0.1 percent, to 25,175.31, and the Nasdaq composite rose 65.34, or 0.8 percent, to 7,761.04, a record. Roughly four stocks rose for every three that fell.

For years since the Great Recession, central banks around the world have thrown massive amounts of stimulus at markets, chiefly through the purchase of billions of dollars of bonds each month. That era neared its end after Europe's central bank said it will begin phasing out its bond-buying program in the autumn before ceasing it after December.

The European Central Bank also said it will hold off on raising interest rates until at least the summer of 2019, which was more accommodative than some investors had expected.

Its U.S. counterpart, the Federal Reserve, has already halted bond purchases and has increased interest rates seven times since late 2015. Its latest move came Wednesday, when it raised its benchmark rate by another quarter of a percentage point and indicated two more increases may come this year thanks to the improving economy. Higher rates can stave off inflation, but they can also hinder economic growth.

"It is momentous because you're moving to something more normal," said Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management. "At the same time, you're moving grudgingly toward that. Central banks around the world are going to err toward being more accommodative, and they don't want to cause a market shock."

Both the Fed and the ECB have said that their next moves will depend on what the economic data says, and if growth is strong enough, they'll raise rates more quickly. That could make markets around the world more volatile, Schutte said, as investors handicap what each weekly or monthly economic report means for interest rates.

On Thursday, the data for the U.S. economy were nearly uniformly encouraging.

Retail sales jumped in May after shoppers spent more at home and garden stores, gas stations and restaurants. It was the strongest gain in six months, and it fits with economists' projections that economic growth is picking up following a slowdown during the first quarter of the year.

A separate report showed that fewer U.S. workers filed for unemployment claims last week than expected, an encouraging sign for the labor market.

The yield on the 10-year Treasury fell to 2.93 percent from 2.98 percent late Wednesday. It gave up gains from the prior day, when the Federal Reserve surprised some investors by speeding up its timetable for rate increases.

Lower interest rates can hurt banks by crimping the profit they make from making loans. Financial stocks in the S&P 500 fell 0.9 percent for the biggest loss among the 11 sectors that make up the index.

On the winning side were dividend-paying stocks, whose payouts look more attractive when interest rates are falling. Utilities, telecom stocks and real-estate investment trusts were among the top-performing sectors in the S&P 500.

European stock markets rose more than U.S. indexes, with France's CAC 40 rising 1.4 percent and Germany's DAX up 1.7 percent. The FTSE 100 in London gained 0.8 percent. In Asia, Japan's Nikkei 225 index dropped 1 percent, South Korea's Kospi sank 1.8 percent and the Hang Seng in Hong Kong lost 0.9 percent.

Stocks from developing economies continued their struggles, which have been compiling since the spring. Investors worry that higher U.S. interest rates will hurt emerging-market economies.

The dollar rose to 110.57 Japanese yen from 110.55 yen late Wednesday. The euro fell to $1.1591 from $1.1773, and the British pound fell to $1.3281 from $1.3358.

In the commodities markets, benchmark U.S. crude rose 25 cents to settle at $66.89 per barrel. Brent crude, the international standard, fell 80 cents to $75.94.

Heating oil fell 3 cents to $2.16 per gallon, wholesale gasoline dropped 3 cents to $2.09 per gallon and natural gas was close to flat at $2.97 per 1,000 cubic feet.

Gold rose $7.00 to settle at $1,308.30 per ounce, silver gained 27 cents to $17.26 per ounce and copper slipped 3 cents to $3.22 per pound.


----------



## bigdog

https://finance.yahoo.com/m/a160506...3969444/ss_us-stocks-and-bond-yields-dip.html

*US stocks and bond yields dip amid trade worries*



Associated PressJune 16, 2018


NEW YORK (AP) — U.S. stocks closed out a whirlwind week with a modest loss Friday as markets gauged how much to fret about the Trump administration's decision to step up the trade dispute between the world's two biggest economies.

The White House announced tariffs on $50 billion of imports from China, and China's almost-immediate response was a promise to retaliate with its own of the same scale. Stocks sank from the start of trading, and the S&P 500 was down 0.7 percent at one point before paring its loss as the day progressed.

At the close, the S&P 500 was down 3.07 points, or 0.1 percent, at 2,779.42. The Dow Jones industrial average fell 84.83, or 0.3 percent, to 25,090.48, and the Nasdaq composite dropped 14.66, or 0.2 percent, to 7,746.38.

The worst-case scenario for investors is that an escalating trade war between the United State and China will leave the global economy as collateral damage. Barriers to trade could result in higher prices at stores for all kinds of products, weaker profits for companies and slower growth around the world. President Donald Trump has railed against the United States' trade deficits with other countries as unfair.

Investors generally don't expect the worst-case scenario to occur. The expectation for many is that the tariffs are merely a tool to spur the creation of new trade deals rather than as an end in itself.

"It's something that could hurt the economy if followed through on, but for now, markets seem to be assessing this as just a negotiation that is out there for everyone to see," said Matthew Miskin, market strategist with John Hancock Investments.

That belief helped to temper Friday's losses, and the day's trading was reminiscent of April 4, when stocks plunged at the opening bell on concerns about a U.S.-China tariff tiff only to end the day higher.

Tariffs weren't the only thing moving markets following a busy week full of encouraging reports on the U.S. economy and policy announcements from the world's biggest central banks.

Attention is focused on central banks because they're in various stages of pulling away from the emergency stimulus put in place following the Great Recession. The Bank of Japan decided on Friday to keep its stimulus program on track, for example. A day earlier, the European Central Bank said it would halt its bond-buying program after the end of the year, though it also pledged to hold off on rate increases through the summer of 2019.

The Federal Reserve is further along this path. On Wednesday, it raised its benchmark rate for the fourth time in the last year and indicated two more increases may be on the way in 2018, which was more aggressive than some investors expected. It's making the moves because of the stronger economy, and that may mean something counterintuitive for the lay investor: The stronger the economy becomes, the more likely the Federal Reserve will be to raise interest rates quickly, and that would hurt stock prices.

"Stocks and the economy might go separate ways," Miskin said. "The economy might actually feel good for the first time in a decade, but the problem is that those tend to be the periods at the end of the cycle."

The biggest losses Friday came from the energy sector, where stocks fell with a sharp drop in the price of oil. Crude sank amid speculation that oil-producing countries could push to increase production at next week's OPEC meeting.

Benchmark U.S. crude fell $1.83 to $65.06 per barrel. Brent crude, the international standard, lost $2.50 to $73.44 per barrel. That helped drag energy in the S&P 500 down 2.1 percent for the largest loss among the 11 sectors that make up the index.

Markets abroad were also generally weaker. In Europe, the DAX in Germany lost 0.7 percent, and the CAC 40 in France dipped 0.5 percent. In London, the FTSE 100 lost 1.7 percent. In Asia, South Korea's Kospi shed 0.8 percent, and the Hang Seng in Hong Kong fell 0.4 percent. Japan's Nikkei 225 index was an outlier and rose 0.5 percent.

Treasury yields fell for a second straight day, and the yield on the 10-year Treasury sank to 2.91 percent from 2.94 percent late Thursday.

Gold dropped $29.80 to settle at $1,278.50 per ounce, silver fell 78 cents to $16.48 per ounce and copper lost 8 cents to $3.14 per pound.

Natural gas rose 6 cents to settle at $3.02 per 1,000 cubic feet, heating oil lost 7 cents to $2.09 per gallon and wholesale gasoline fell 7 cents to $2.02 per gallon.

The dollar rose to 110.62 Japanese yen from 110.57 yen late Thursday. The euro rose to $1.1607 from $1.1591, and the British pound inched up to $1.3282 from $1.3281.

7331


----------



## bigdog

https://www.usnews.com/news/business/articles/2018-06-17/asian-markets-down-as-trade-war-heats-up

*US Stocks Recover From Sharp Early Drop and Finish Mixed*
US stocks end up mixed as health care companies and consumer products makers decline, but energy companies rise along with oil prices and technology companies and small U.S.-focused companies move higher.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks shrugged off early losses and wound up with a mixed finish Monday. Household goods companies took some of the worst losses as the S&P 500 index fell for the third time in four days.

The S&P 500 dropped as much as 22 points early on. Consumer products and packaged foods companies stumbled and drug makers and distributors fell, as did health insurers. That came after indexes in Europe and Asia fell. German stocks took steep losses as investors wondered if a dispute over migrants could eventually threaten the German government.

But stocks gradually recovered most of their losses as energy companies rose along with oil prices and technology companies managed to make some gains as well. Smaller and more U.S.-focused companies climbed higher. That continued a pattern that has persisted for more than three months.

It's been a turbulent few months for stocks, but the benchmark S&P 500 is a bit higher than it was when international trade tensions started to weigh on the market in late February. Terry Sandven, chief equity strategist at U.S. Bank Wealth Management, said it's a good sign that some sectors that have struggled are now doing better.

"It's indicative of a market that's unconvinced that a trade war will develop," he said. Still, he said the next month of trading could be choppy as investors analyze the latest trade developments and wait for companies to start reporting their second-quarter results in mid-July.

The S&P 500 fell 5.91 points, or 0.2 percent, to 2,773.75. The Dow Jones industrial average dropped 103.01 points, or 0.4 percent, to 24,987.47. The Nasdaq composite edged up 0.65 points to 7,747.03.

The Russell 2000 index rose 8.55 points, or 0.5 percent, to a record 1,692.46. Many investors feel the smaller and more U.S.-focused companies in that index are less vulnerable in the event that a major trade dispute slows growth in the global economy. Most of the companies listed on the New York Stock Exchange closed higher.

Drugmaker Biogen suffered the biggest fall of any S&P 500 company following positive clinical trial results form a competitor. PTC Therapeutics jumped 27.5 percent to $47.88 after its report from an early study of a drug intended to treat Type 1 spinal muscular atrophy, a genetic disorder that affects infants. PTC's drug could affect sales of Biogen's Spinraza, and Biogen lost 5.2 percent to $289.12. Its partner Ionis Pharmaceuticals sank 6.4 percent to $43.61

Volkswagen slumped after German authorities detained Rupert Stadler, the CEO of its Audi division, in an extension of the emissions scandal that has rocked Volkswagen since 2015. That scandal has led to billions in fines, the arrest of executives and the indictment in the U.S. of its former CEO. Volkswagen stock fell 3.1 percent in Germany.

The German DAX fell 1.4 percent, and all 30 stocks on the index ended with losses. The CAC 40 in France lost 0.9 percent and Britain's FTSE 100 fell less than 0.1 percent. Japan's benchmark Nikkei 225 index dropped 0.8 percent while South Korea's Kospi lost 1.2 percent.

On Saturday the Trump administration launched an investigation into whether tariffs are needed on automobiles imported to the U.S. as talks with Canada and Mexico over the North American Trade Agreement stalled. A day earlier, President Donald Trump said the U.S. will put tariffs of up to 25 percent on some Chinese imports starting in July. Those tariffs target industrial and agricultural machinery, aerospace parts and communications technology. China said it will raise import duties on $34 billion worth of American goods, including soybeans, electric cars and whiskey.

Alphabet, Google's parent company, rose after it agreed to invest $550 million in Chinese e-commerce company JD.com. Alphabet picked up 2.1 percent to $1,183.58 while JD.com rose 0.4 percent to $43.76.

Rent-A-Center jumped 22 percent to $14.68 after private equity firm Vintage Capital Management agreed to buy it for $15 a share, or $800 million. Rent-A-Center leases household goods on a rent-to-own basis. Clothing company Perry Ellis lost 2.7 percent to $27.22 after founder George Feldenkreis started buying more stock to take the company private in a deal worth $27.50 a share, or $437 million.

Oil futures rose as investors wait for an OPEC meeting later this week. Benchmark U.S. crude added 1.2 percent to $65.85 a barrel in New York. Brent crude, used to price international oils, climbed 2.6 percent to $75.34 a barrel in London.

Chevron gained 1.6 percent to $125.97 and ConocoPhillips rose 1.9 percent to $66.60.

Wholesale gasoline rose 1.6 percent to $2.05 a gallon. Heating oil gained 2.1 percent to $2.13 a gallon. Natural gas fell 2.3 percent to $2.95 per 1,000 cubic feet.

Bond prices were little changed. The yield on the 10-year Treasury note stayed at 2.92 percent.

Gold rose 0.1 percent to $1,280.10 an ounce. Silver dipped 0.2 percent to $16.44 an ounce. Copper lost 1.2 percent to $3.11 a pound.

The dollar fell to 110.44 yen from 110.62 yen late Friday. The euro inched up to $1.1615 from $1.1607.

Markets in Hong Kong were closed for the Duanwu Festival commemorating the death of Qu Yuan, an ancient Chinese poet and minister.


----------



## bigdog

https://www.usnews.com/news/busines...n-stocks-tumble-after-new-trump-tariff-threat

*Dow Posts 6th Loss in Row on Trade Spat; Small Cos. Rally*
US stocks slip and indexes in Europe and Asia took sharp losses as the U.S. and China exchange fresh threats in their dispute over trade.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Big industrial and technology companies skidded Tuesday as the trade dispute between the U.S. and China threatened to come to a boil. Smaller companies less focused on overseas trade fared better, as did dividend-paying stocks.

The Dow Jones industrial average fell for the sixth day in a row and lost 287.26 points, or 1.1 percent, to 24,700.21. The S&P 500 index gave up 11.18 points, or 0.4 percent, to 2,762.57. The Nasdaq composite fell 21.44 points, or 0.3 percent, to 7,725.59. International markets suffered steeper losses. Hong Kong's Hang Seng index sank 2.8 percent, its biggest decline since February, and Germany's DAX lost 1.2 percent.

Oil and copper fell. Both are commodities that would be susceptible if a trade dispute caused a slowdown in global economic growth. Cautious investors moved money into bonds.

President Donald Trump told the U.S. Trade Representative to identify $200 billion in goods for a potential 10 percent tax, and China said it would respond with duties of its own. In a statement, Trump said that if China retaliated, he would order yet another $200 billion in tariffs. China doesn't import enough goods from the U.S. to match the scale of Trump's proposals, but could sanction U.S. products or companies through other means.

Just days ago, the U.S. and China each announced 25 percent taxes on $50 billion in imports from the other. While the dollar amounts are rising rapidly, the countries still have time to negotiate, as the previously announced tariffs won't take effect until July 6.

Stocks took bigger losses early in the day, as the Dow fell as much as 419 points. Smaller and more domestically-focused companies recovered and finished with small gains, and big-dividend companies like consumer products companies rose as well. The Russell 2000 index gained 0.99 points, or 0.1 percent, to a record 1,693.45. That index is up 10.3 percent this year while the S&P has risen 3.3 percent and the Dow has taken a small loss.

Kate Warne, investment strategist for Edward Jones, said investors are concerned about what they're seeing, but they still think the U.S. and China will work out their differences.

"There's concern but there's not overall great worry at this stage," she said. "We are certainly taking the first steps toward a trade war and the more tit-for-tat actions are taken the harder it is to pull back."

In Europe, the CAC 40 of France fell 1.1 percent and in London the FTSE 100 slipped 0.4 percent. The losses were even heavier in Asia, where Tokyo's Nikkei 225 retreated 1.8 percent and Seoul's Kospi gave up 1.5 percent.

Industrial and technology companies took some of the worst losses as investors worried that the dispute could grow more intense and drag down global economic growth. The dollar also got stronger, and the ICE-US Dollar Index hit its highest level since July. That makes U.S. goods more expensive in other markets.

Aerospace company Boeing dropped 3.8 percent to $341.12 and construction and mining equipment maker Caterpillar shed 3.6 percent to $143.30 while Apple fell 1.6 percent to $185.69. Companies that make cars, steel and aluminum and chemicals also took heavy losses. So did shares of Chinese companies listed in the U.S. E-commerce company Alibaba slid 2 percent to $204.43 and search engine Baidu declined 2.5 percent to $262.11.

The euro sank to $1.1575 from $1.1615. The dollar fell to 110.07 yen from 110.44 yen.

Bond prices climbed as investors turned more cautious. The yield on the 10-year Treasury note fell to 2.89 percent from 2.92 percent. The yield on the 10-year note is just 0.35 percentage points higher than the yield on the 2-year, the smallest it's been since the summer of 2007. For economists, the gap starts flashing a warning signal when short-term Treasurys are yielding more than their long- term counterparts. That's a scenario called an "inverted yield curve," and it has preceded each of the last seven recessions.

Shares of Chinese telecom giant ZTE fell 24.8 percent in Hong Kong after the U.S. Senate sought to restore a ban that prevents the company from buying U.S. components for seven years. The Senate's move would block a White House plan to stop the ban in exchange for a big fine and other penalties.

U.S. companies that supply ZTE also sank. Acacia Communications gave up 3.7 percent to $33.94.

Health care companies edged higher. CVS Health jumped 4.5 percent to $70.77 after the drugstore chain and pharmacy benefits manager said it will start making home deliveries of prescriptions and other items.

As the dollar gained strength and investors worried about economic growth, oil prices turned lower. U.S. crude fell 1.2 percent to $65.07 a barrel in New York, and Brent crude, the international standard for oil prices, fell 0.3 percent to $75.08 a barrel in London.

In other energy trading, wholesale gasoline shed 0.8 percent to $2.04 a gallon. Heating oil lost 0.5 percent to $2.12 a gallon. Natural gas fell 1.7 percent to $2.90 per 1,000 cubic feet.

Gold fell 0.1 percent to $1,278.60 an ounce. Silver lost 0.7 percent to $16.32 an ounce. Copper sank 1.9 percent to $3.05 a pound.


----------



## bigdog

https://www.usnews.com/news/busines...ake-a-breather-from-trade-tensions-markets-up

*Stocks Finish Mostly Higher as Tech and Media Companies Lead*
U.S. stocks finish mostly higher as technology companies rise and media companies jump as a new deal between Twenty-First Century Fox and Disney has investors hoping for more media sales.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks rose Wednesday as investors bet that technology companies and small, domestically-focused firms will continue to do well even if the trade dispute between the U.S. and China gets worse. Media companies jumped after Disney reached a new deal with Twenty-First Century Fox.

Facebook, Microsoft and Alphabet led the rally in technology companies as the Nasdaq composite topped the all-time high it set last week. Disney sweetened its deal to buy Fox's entertainment businesses to $71.3 billion, topping an offer from Comcast earlier this month. Other media companies like Netflix and Viacom climbed as investors hoped more deals will follow.

Starbucks plunged to its lowest price in a year and a half after the company said its U.S. and China businesses both ran into trouble during the current quarter. That led to losses in other restaurant companies such as McDonald's, which contributed to a small decline in the Dow Jones industrial average, its seventh straight down day.

General Electric dipped following the announcement that GE will be removed from the Dow next week, ending a 110-year stint. Shares of Walgreens, its replacement, surged.

Smaller and more U.S.-oriented companies such as retailers climbed. While technology companies are the biggest sector of the S&P 500 and make most of their sales overseas, just the opposite of small caps, investors feel that both types of stocks are less vulnerable to tariffs than industrial companies or household goods makers, among other sectors.

Sameer Samana, global equity and technical strategist for the Wells Fargo Investment Institute, said investors aren't sure what to make of the administration's mix of harsh pronouncements and conciliatory statements. While the market has taken some sharp drops during the trade dispute, he said Wall Street usually comes back to the fact that the global economy, and especially the U.S. economy, is doing well.

"For the most point things are pretty good from an economic and fundamental standpoint," he said. Samana added that technology companies have often led the way when the market recovers from trade-related slumps because of their strong earnings, and because China's government can't put tariffs on too many U.S. technology companies because it is trying to build up its own technology sector.

The S&P 500 index rose 4.73 points, or 0.2 percent, to 2,767.32. The Nasdaq composite gained 55.93 points, or 0.7 percent, to 7,781.51. The Russell 2000 index of smaller-company stocks added 13.54 points, or 0.8 percent, to 1,706.99, also closing at a record high.

But the Dow industrials slipped 42.41 points, or 0.2 percent, to 24,657.80. The Dow has fallen for seven days in a row, its worst streak in more than a year, although the losses have been fairly small.

Markets have been on edge with the U.S. and China announcing tariffs on each other's imports and threatening more. While global stocks fell Tuesday, the S&P 500 finished with a loss of just 0.4 percent as investors decided that many U.S. industries don't face a major threat from the proposals and that negotiations might take some of the sting out of the proposed taxes.

Twenty-First Century Fox jumped again after it accepted Disney's latest offer. It said yes to a $52.4 billion bid from Disney in December before Comcast offered $65 billion in cash, and some experts think Comcast will raise its offer again. Fox surged 7.5 percent to $48.08 while Disney added 1 percent to $107.15 and Comcast climbed 1.8 percent to $33.39.

Starbucks sank 9.1 percent to $52.22 after a weak sales forecast. Starbucks said it didn't do as many transactions in China as it expected, and the controversy that followed the arrest of two black men at a Philadelphia store temporarily slowed its U.S. business. Other restaurant chains also struggled, and Dow component McDonald's lost 1.5 percent to $162.56.

General Electric was part of the Dow when it was created in 1896, and it's been a one of the 30 stocks on the index continuously since 1907. But GE has been selling businesses for a decade, reducing its value, and it's by far the least expensive Dow stock. The Securities and Exchange Commission is investigating the company over a $15 billion hit taken to cover miscalculations made within an insurance unit. Adjusted for inflation, GE was worth around $860 billion in mid-2000, but it's worth about $112 billion now.

GE slipped 0.5 percent to $12.88. Walgreens, which replaces GE in the Dow on Tuesday, jumped 5.2 percent to $68.

U.S. crude rose 1.8 percent to $66.22 and Brent crude, the international standard for oil prices, lost 0.5 percent to $74.74 a barrel in London. Wholesale gasoline lost 0.7 percent to $2.02 a gallon. Heating oil fell 0.7 percent to $2.11 a gallon. Natural gas jumped 2.2 percent to $2.96 per 1,000 cubic feet.

Bond prices inched lower. The yield on the 10-year Treasury note rose to 2.93 percent from 2.90 percent.

Gold fell 0.3 percent to $1,274.50 an ounce. Silver lost 0.1 percent to $16.31 an ounce. Copper dipped 0.2 percent to $3.04 a pound.

The dollar edged up to 110.22 yen from 110.07 yen. The euro rose to $1.1588 from $1.1575.

The FTSE 100 in Britain added 0.3 percent and Germany's DAX rose 0.1 percent. France's CAC 40 lost 0.3 percent. After sharp losses the day before, Japan's benchmark Nikkei 225 index rebounded 1.2 percent and South Korea's Kospi gained 1 percent. Hong Kong's Hang Seng rose 0.8 percent.


----------



## bigdog

https://www.usnews.com/news/busines...mostly-up-despite-underlying-us-china-tension

*US Stocks Skid as Industrials, Automakers, Tech Trade Lower*
US technology and industrial companies and car makers fall and European indexes also end lower as investors focus again on trade tensions between the US and China.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Car makers and technology and industrial companies fell Thursday as investors focused on the U.S.-China trade dispute, which could reduce company spending and earnings. The Dow Jones Industrial Average slipped for the eighth day in a row.

While investors generally don't expect a trade war between the U.S. and China, they remain sensitive to signs that rising tariffs and trade tensions will hurt the global economy and reduce corporate profits. This week they've received some signs that this is happening. On Thursday German automaker Daimler said the tariffs China plans to put on cars imported from the U.S. will contribute to a small decline in earnings this year.

The previous day, Fed Chairman Jerome Powell said the U.S. central bank has heard about businesses holding off on hiring and spending in response to the trade conflicts. Kate Moore, global equity strategist for BlackRock, said that investors have been hoping that the Republican-backed corporate tax cut would encourage companies to hire more workers, boost pay, and expand their operations, but the uncertainty over tariffs is discouraging them from doing that.

"There's a fear that rising uncertainty around trade and tariffs is going to significantly affect investment decisions and hiring decisions, and potentially take some steam off of what has looked like a very strong expansion," she said. She added that companies have been reluctant to make major investments since the financial crisis of 2008-09, and some investors felt the tax cuts would help change that pattern.

Online retailers skidded and rivals such as department stores rose after the Supreme Court ruled that states can force more online shoppers to pay sales tax. Energy companies declined ahead of a meeting where OPEC countries and other nations are expected to increase oil production. Bond yields fell, and big dividend payers like real estate investment trusts and utilities made some of the biggest gains on Wall Street.

The S&P 500 index slid 17.56 points, or 0.6 percent, to 2,749.76. The Dow fell 196.10 points, or 0.8 percent, to 24,461.70. The index has fallen 3.4 percent over the last eight days. Its last losing streak this long was in March 2017. The Nasdaq composite lost 68.56 points, or 0.9 percent, to 7,712.95. The Russell 2000 index of smaller-company stocks declined 18.04 points, or 1.1 percent, to 1,688.95. The Nasdaq and Russell 2000 both closed at record highs Wednesday.

Daimler is projecting fewer SUV sales and higher costs for Mercedes-Benz cars as a result of Chinese tariffs on cars made in the U.S. Those are scheduled to take effect July 6. The company now says its earnings before interest and taxes will fall slightly this year rather than the previously forecast small increase. Its stock fell 4.3 percent in Germany.

Online retailers dropped following the Supreme Court ruling. For more than two decades, companies were not required to collect sales tax on online purchases that were made in a state where the company did not have a warehouse, office or other physical presence. States argued that those rules deprived them of billions of dollars in tax revenue, and traditional retailers said online sellers had an unfair advantage.

Overstock.com lost 7.2 percent to $36.15 and home goods site Wayfair gave up 1.6 percent to $114.28 while Amazon lost 1.1 percent to $1,730.22. Target gained 1 percent to $76.14 and Nordstrom added 1.8 percent to $52.78.

Energy companies skidded as investors expect OPEC to agree to a production increase at a meeting on Friday. Greater production reduces oil prices, and that has weighed on energy stocks in recent weeks. Chevron fell 2.2 percent to $122.59 and Marathon Oil dropped 5.4 percent to $19.92.

U.S. crude dropped 0.3 percent to $65.54 a barrel in New York and Brent crude, the international standard for oil prices, lost 2.3 percent to $73.05 a barrel in London.

Intel fell 2.4 percent to $52.19 after its CEO resigned. The world's largest chipmaker said CEO Brian Krzanich is stepping down after the company learned he had a relationship with an employee. Intel said the relationship was consensual, but violated a policy that bars managers from having relationships with employees.

Bond prices climbed. The yield on the 10-year Treasury note fell to 2.90 percent from 2.94 percent. That helped stocks that pay big dividends including utilities and real estate investment trusts.

In other energy trading, wholesale gasoline lost 0.6 percent to $2.01 a gallon. Heating oil fell 1.8 percent to $2.07 a gallon. Natural gas rose 0.4 percent to $2.98 per 1,000 cubic feet.

Gold shed 0.3 percent to $1,270.50 an ounce. Silver edged up 0.1 percent to $16.33 an ounce. Copper slid 0.6 percent to $3.02 a pound.

The dollar fell to 109.90 yen from 110.40 yen. The euro rose to $1.1617 from $1.1587.

The German DAX dropped 1.4 percent after Daimler's warning. France's CAC 40 lost 1 percent and Britain's FTSE 100 gave up 0.9 percent after its central bank indicated it could raise rates this summer.

Japan's benchmark Nikkei 225 index finished up 0.6 percent and the Kospi in South Korea dropped 1 percent. Hong Kong's Hang Seng fell 1.4 percent.


----------



## bigdog

https://www.usnews.com/news/busines...wn-as-multiple-trade-disputes-worry-investors

*US Stocks Finish Mostly Higher as Energy Companies Climb*
US stocks rise as energy companies and oil prices surge after major oil producers agree to produce more oil, but not as much as investors feared.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Oil prices and energy companies rallied Friday after OPEC said it will produce more oil, but not as much as investors feared. While trade tensions remained in the headlines, U.S. stocks finished slightly higher at the end of a bumpy week.

U.S. crude futures jumped 4.6 percent after OPEC nations agreed to produce about 1 million additional barrels of oil per day. Reports have said for weeks that production was likely to rise, but analysts said investors appear to think the boost will be smaller than OPEC says it will. So oil prices rallied even though they usually go down when production rises.

"People were pricing crude in the last couple of weeks (expecting) a bigger increase by OPEC than what they agreed to," said Jim Paulsen, chief investment strategist for the Leuthold Group.

The European Union followed through on its promise to put import taxes on $3.4 billion in U.S. goods including bourbon, peanut butter and orange juice in response to U.S. tariffs on steel and aluminum. Automakers were jolted after President Donald Trump threatened to put a 20 percent tax on cars imported from Europe, although none of them took big losses.

The S&P 500 index rose as much as 14 points but ended with a gain of just 5.12 points, or 0.2 percent, to 2,754.88. The Dow Jones Industrial Average added 119.19 points, or 0.5 percent, to 24,580.89 to break an eight-day losing streak. The Dow lost 2 percent this week, with Boeing off 5.3 percent and Caterpillar down 6.7 percent. That was both companies' biggest loss in three months. Makers of chemicals and other basic materials like 3M also lost ground this week and technology companies slipped.

The Nasdaq composite fell 20.13 points, or 0.3 percent, to 7,692.82. The Russell 2000 index of smaller-company stocks sank 3.37 points, or 0.2 percent, to 1,685.58.

U.S. crude climbed 4.6 percent to $68.58 a barrel in New York. That was its biggest one-day gain since November 2016, when OPEC and a group of other countries including Russia agreed to cut production by 1.8 million barrels a day. Prices have been rising since then, and U.S. crude hit a three-year high of about $72 a barrel in May.

Brent crude, the standard for international oil prices, rose 3.4 percent to $75.55 a barrel in London.

Exxon Mobil picked up 2.1 percent to $81.38 and Marathon Oil surged 7.8 percent to $21.48.

The European Union is enforcing tariffs on $3.4 billion in U.S. products in retaliation for duties the Trump administration has put on European steel and aluminum. The taxes are on American products including bourbon, peanut butter and orange juice, and the choices appear designed to create political pressure on Trump and senior U.S. politicians.

EU authorities had said the move was coming in response to the U.S. import duties. On Twitter, Trump threatened to impose a 20 percent tax on cars imported from the EU if barriers to trade are not removed soon. He previously ordered the U.S. Trade Representative to look into possible tariffs or quotas on imported cars and car parts.

That jolted car companies. In Germany, shares of BMW lost 1.1 percent and Daimler sank 0.3 percent. Daimler fell more than 4 percent Thursday after it said Chinese tariffs on U.S. cars would contribute to a decline in its earnings this year. Ford and Toyota also dipped while Peugeot and General Motors rose.

"If you're in the direct line of fire from a tariff, it's hugely important," said Paulsen. Still, he said investors are very skeptical that a damaging trade war will break out. "The trade war has heated up over the last couple of months and yet stocks are up over that period of time," he said. That was also the case Friday.

Health care and household goods companies also rose while technology companies and banks fell.

Open source software maker Red Hat dropped 12.4 percent to $142.14 after it cut its sales forecasts due to the strengthening dollar. Other technology companies also declined. The industry has been leading the market for more than a year, but it makes more of its sales outside the U.S. than any other major S&P 500 sector. Micron Technology fell 3.9 percent to $57.10 and Nvidia lost 2.4 percent to $250.95.

In other commodity trading, wholesale gasoline jumped 2.9 percent to $2.07 a gallon. Heating oil added 2.7 percent to $2.13 a gallon. Natural gas skidded 1 percent to $2.95 per 1,000 cubic feet.

Gold slid 0.3 percent to $1,270.70 an ounce. Silver added 0.8 percent to $16.46 an ounce. Copper edged up 0.2 percent to $3.03 a pound.

Bond prices rose slightly. The yield on the 10-year Treasury note slid to 2.89 percent.

The dollar rose to 109.91 yen from 109.90 yen. The euro advanced to $1.1663 from $1.1617.

The CAC 40 in France climbed 1.3 percent and Britain's FTSE 100 gained 1.7 percent. In Germany the DAX rose 0.5 percent.

Some Asian markets gained following heavy losses on previous days but finished lower than a week ago. Hong Kong's Hang Seng index edged up 0.2 percent while Japan's Nikkei 225 lost 0.8 percent. The South Korean Kospi advanced 0.8 percent.

7597


----------



## bigdog

https://www.usnews.com/news/busines...fall-oil-gives-up-some-gains-after-china-move

*Stocks Skid as Trade Worries Pull Technology Companies Lower*
US stocks fall and so do indexes overseas following reports that the Trump administration could limit high-tech exports to China and restrict investment by Chinese firms in US companies.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks slumped Monday as investors grew concerned that the technology sector, a pillar of the long-running bull market, could be dragged into to the broadening trade dispute between the U.S. and China. The Dow Jones industrial average fell for the ninth time in 10 days.

Stocks sank after the Wall Street Journal and Bloomberg News reported that the administration intends to limit exports of some high-tech products to China, and will limit investment in technology firms by companies with substantial Chinese ownership. Treasury Secretary Steven Mnuchin suggested the investment restrictions wouldn't be limited to China and the losses deepened. The Dow Jones Industrial Average lost as much as 496 points.

The market recovered some of those losses after Peter Navarro, one of President Donald Trump's top trade advisers, told CNBC there was no plan for investment restrictions and that the administration's probe into alleged technology theft is limited to China.

"We hear one thing one hour and something that contradicts it the next hour or the next day," said Randy Frederick, vice president of trading and derivatives for Charles Schwab. "Nobody knows what to think or what to believe. It makes it really tough to invest."

All but one of the 72 technology companies listed on the S&P 500 index fell Monday. Those companies have done far better than the broader market over the last year and a half and investors had considered them to be less vulnerable to tariffs than other sectors like manufacturing.

Taxes by the U.S. on tens of billions of dollars in imports from China, and retaliatory taxes by China on U.S. goods, are set to take effect in less than two weeks. While few investors expect a full-blown trade war, Frederick said talks appear to be going in the wrong direction.

"Every day you get closer to those particular dates it gets more worrisome," he said. Frederick said that is likely to lead to more market volatility.

The S&P 500 index shed 37.81 points, or 1.4 percent, to 2,717.07, its worst loss since April 6. The Dow Jones Industrial Average lost 328.09 points, or 1.3 percent, to 24,252.80. The Nasdaq composite fell 160.81 points, or 2.1 percent, to 7,532.01. The Russell 2000 index of smaller-company stocks slid 28.07 points, or 1.7 percent, to 1,657.51.

Elsewhere, Harley-Davidson said it would move some production overseas to avoid tariffs the European Union is placing on motorcycles made in the U.S. Those tariffs were a response to taxes the U.S. placed on steel and aluminum from Europe. Its stock fell 6 percent to $41.57.

China is attempting to become a global leader in biotechnology, electric vehicles and other industries, and the reports said the administration wants to slow Beijing's progress in those areas. President Donald Trump has threatened to put tariffs on hundreds of billions of dollars in Chinese imports over complaints Beijing steals or pressures foreign companies to hand over technology. He's also pressuring China to buy more U.S.-made goods.

Chipmaker Micron Technology, which gets half its revenue from China, lost 6.9 percent to $53.16 and Advanced Micro Devices fell 4.4 percent to $15.11. Nvidia sank 4.7 percent to $239.12.

Germany's DAX fell 2.5 percent and London's FTSE 100 gave up 2.2 percent. France's CAC 40 shed 1.9 percent. Hong Kong's Hang Seng lost 1.3 percent. Tokyo's Nikkei 225 shed 0.8 percent and in South Korea the Kospi was little changed.

Retailers and other companies focused on consumers fell as investors sold some of the stocks that have done the best this year. Amazon lost 3.1 percent to $1,663.15 and Netflix dropped 6.5 percent to $384.48.

The S&P 500 index of technology companies and the index of consumer-focused companies are both up 10 percent this year. The S&P 500 is up 1.6 percent.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.87 percent from 2.89 percent.

Elsewhere, cruise lines dropped after Carnival cut its annual profit forecast. The company cited the rising cost of fuel. Carnival fell 7.9 percent to $58.54 and competitors Royal Caribbean and Norwegian Cruises also slumped.

Investors still responded positively to deal reports. Broadcaster Gray Television jumped 16 percent to $14.85 after it said it will combine with Raycom in a deal the companies valued at $3.6 billion. Campbell Soup rose 9.4 percent to $42.23 after the New York Post said Kraft Heinz is interested in buying the company. Kraft added 0.2 percent to $63.32.

Benchmark U.S. crude dipped 0.7 percent to $68.08 per barrel in New York. It climbed 4.6 percent Friday, its biggest one-day gain since late 2016. Brent crude, used to price international oils, dropped 1.1 percent to $74.73 per barrel in London.

OPEC countries agreed to produce more oil Friday, but investors aren't sure the cartel will produce as much crude oil as it says it will.

Wholesale gasoline lost 0.9 percent to $2.05 a gallon. Heating oil fell 1.2 percent to $2.10 a gallon. Natural gas dipped 0.7 percent to $2.92 per 1,000 cubic feet.

Gold fell 0.1 percent to $1,268.90 an ounce. Silver lost 0.8 percent to $16.33 an ounce. Copper fell 1.3 percent to $2.99 a pound.

The dollar fell to 109.45 yen from 109.91 yen. The euro rose to $1.1704 from $1.1663.


----------



## bigdog

https://www.usnews.com/news/busines...xed-as-trade-tensions-weigh-on-us-tech-sector

*US Stocks Inch Higher a Day After Sharp Losses; GE Leaps*
US stocks manage only small gains as technology companies recover a portion of the losses they took a day earlier.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks bobbed higher Tuesday as technology and consumer-focused companies regained a sliver of their losses from the day before. Oil prices and energy companies jumped as the U.S. pressed its allies to stop importing oil from Iran.

Coming off their worst loss since early April, stocks were on track for hefty gains Tuesday afternoon but weakened late in the day. Technology companies like Apple bounced back after abrupt losses on Monday. General Electric led industrial companies higher after it said it would shrink even further by spinning off its health care business and its oil service unit.

Banks and other financial companies took losses as bond yields and interest rates remained well off their highs from last month. Household goods makers also slipped.

Julian Emanuel, chief equity and derivative strategist for BTIG, said the stock market is going to be volatile as long as investors are concentrating on the trade disputes the U.S. is having with many of its biggest trading partners.

"The economy is strong as it stands now and earnings are great, but when all of the psychic energy and all of the focus is on the trade war, as it was in late March and early April, the market has responded accordingly," he said.

The S&P 500 index gained 5.99 points, or 0.2 percent, to 2,723.06. It fell 1.4 percent Monday. The Dow Jones Industrial Average gained 30.31 points, or 0.1 percent, to 24,283.11. The Nasdaq composite added 29.62 points, or 0.4 percent, to 7,561.63 after it plunged 2.1 percent a day ago. The Russell 2000 index picked up 11.02 points, or 0.7 percent, to 1,668.53.

A senior State Department official said the Trump administration wants allies to stop importing oil from Iran. If they do it would increase demand from other countries, which would likely produce more oil to pick up the slack. Benchmark U.S. crude added 3.6 percent to $70.53 a barrel in New York. Brent crude, used to price international oils, rose 2.1 percent to $76.31 per barrel in London.

President Donald Trump withdrew the U.S. from the Iran nuclear deal in May, so sanctions on Iran's energy sector will kick in again in November. The State Department official said the U.S. is telling Asian and European governments that they should completely eliminate their oil imports from Iran before the grace period expires on November 4.

Exxon Mobil jumped 1.1 percent to $80.64 and Chevron picked up 1.3 percent to $124.16.

Apple climbed 1.2 percent to $184.43 and Facebook gained 1.3 percent to $199. Technology stocks were hammered Monday as investors reacted to reports that the Trump administration might bar technology companies from selling certain high-tech products to China and other countries and limit investment in tech companies by Chinese firms. Stocks recovered some of those losses after a top U.S. trade adviser rebutted those reports.

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Consumer focused companies also rose. Amazon jumped 1.7 percent to $1,691.09 and Netflix rose 3.9 percent to $399.39 after they both dropped on Monday. Homebuilder Lennar climbed 4.9 percent to $51.61 after a strong quarterly report, and its competitors also climbed.

It's been five months since the S&P 500 and Dow last closed at record highs. The S&P 500 is down 5.2 percent since Jan. 26 and the Dow has fallen 8.8 percent. However the Nasdaq, which has a high concentration of technology companies, and the smaller and more domestically-focused Russell 2000, closed at record highs on Wednesday.

Emanuel said investors' decision to shift money into smaller companies might also lead to headaches later on because those stocks are more volatile than the larger and more multinational companies in the S&P 500.

"This whole notion of small caps being a safe haven is really a headscratcher," he said.

GE jumped 7.8 percent to $13.74 after the company said it will sell its two-thirds stake in Baker Hughes and also divest its health care business. The company has sold numerous major businesses in recent years including its railroad locomotive division, lending unit, its appliance businesses and its stake in NBC, and on Monday GE agreed to sell its gas-engine business to Advent International for $3.25 billion.

Tuesday was also the first day in 110 years that General Electric wasn't part of the Dow Jones Industrial Average.

Bond prices were little changed. The yield on the 10-year Treasury note remained at 2.88 percent. Banks continued to fall, as lower interest rates reduce the profits they make on mortgages and other types of lending.

In other commodities trading, gold lost 0.7 percent to $1,259.90 an ounce. Silver sank 0.5 percent to $16.25 an ounce. Copper rose 0.2 percent to $2.99 a pound.

Wholesale gasoline rose 1.1 percent to $2.07 a gallon. Heating oil gained 1.4 percent to $2.13 a gallon. Natural gas rose 0.5 percent to $2.94 per 1,000 cubic feet.

The dollar rose to 110.13 yen from 109.45 yen. The euro fell to $1.1650 from $1.1704.

Germany's DAX lost 0.3 percent and the French CAC 40 fell less than 0.1 percent. The FTSE 100 in Britain jumped 0.6 percent.

Japan's benchmark Nikkei 225 index rose less than 0.1 percent while South Korea's Kospi lost 0.3 percent. Hong Kong's Hang Seng shed 0.3 percent.


----------



## bigdog

https://www.usnews.com/news/busines...s-are-mostly-lower-on-lingering-trade-jitters

*After a Global Pirouette, S&P 500 Slumps to Lowest Since May*
After a global pirouette, S&P 500 slumps to lowest since May.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Global stock markets pirouetted again on Wednesday as investors chased after mixed signals on global trade tensions, and the S&P 500 erased an early-morning jump to drop to its lowest closing level in nearly a month.

One of the day's few market certainties was oil's continued rise, and benchmark U.S. crude hit its highest price since 2014. That helped lift energy stocks, but other areas of the market zigged, zagged and zigged again as the day progressed.

Early on, Asian stocks slumped on concerns about the sometimes-heated talk on trade that has been ongoing between the United States and its partners. European stocks later flipped from losses to gains on hopes that a move by the Trump administration indicated a less combative stance with China. U.S. stocks opened higher, but the gains evaporated after a White House adviser said the move wasn't necessarily a signal of a softer stance.

By the end of the day, the S&P 500 fell 23.43 points, or 0.9 percent, to 2,699.63 after earlier being up as much as 0.8 percent.

The Dow Jones industrial average lost 165.52, or 0.7 percent, to 24,117.59, the Nasdaq composite gave up 116.54, or 1.5 percent, to 7,445.08 and the Russell 2000 index of small-cap stocks fell 28.07, or 1.7 percent, to 1,640.45.

Stocks have swung in recent weeks, even by the hour, on worries about global trade.

Investors were feeling less nervous about it in the morning after the Trump administration indicated it's shifting away from a plan to impose limits on Chinese investment in U.S. technology companies and high-tech exports to China. Instead, the administration is calling on Congress to enhance an existing review process.

Markets took it as a sign of a less antagonistic stance, but the gains disappeared in the afternoon after Larry Kudlow, director of the National Economic Council, said in an interview with Fox Business that it should not necessarily be viewed as a softer stance.

"Trade is the hot topic du jour, and it's having an impact on the market" said Barry Bannister, head of institutional equity strategy at Stifel.

It's only adding to pressures that have been mounting on the market. The Federal Reserve is raising interest rates, but more importantly to Bannister, interest rates after accounting for the effects of inflation are set to cross key thresholds. That is putting pressure on stock prices, and he says this bull market that began in 2009 may end by the first quarter of 2020.

Chinese stocks have already fallen into a bear market. The Shanghai Composite index fell 1.1 percent on Wednesday, and it's down more than 20 percent from a late January high.

Other Asian markets also fell Wednesday. Japan's Nikkei 225 lost 0.3 percent, and South Korea's Kospi sank 0.4 percent.

European stocks were higher. France's CAC 40 gained 0.9 percent, Germany's DAX rose 0.3 percent and the FTSE 100 in London added 1.1 percent.

In the U.S. market, Conagra Brands had the biggest loss among stocks in the S&P 500 after it agreed to buy Pinnacle Foods, the company behind Duncan Hines and Hungry-Man, in a deal that would create a frozen-food giant. Conagra dropped $2.78, or 7.3 percent, to $35.45.

The strongest area of the market was the energy sector. Crude jumped after a report showed that U.S. oil inventories dropped more sharply last week. It had already been rising on reports that the Trump administration is pushing other countries to stop importing oil from Iran.

Crude's rise helped drive energy stocks in the S&P 500 up 1.3 percent, more than double the gain for any of the other 10 sectors that make up the index.

Concho Resources, a company that looks for oil and gas in New Mexico and west Texas, jumped $6.09, or 4.6 percent, to $137.78 for the biggest gain in the S&P 500.

Benchmark U.S. crude rose $2.23 to settle at $72.76 per barrel. Brent crude, the international standard, rose $1.31 to $77.62 a barrel.

Natural gas rose 6 cents to $2.30 per 1,000 cubic feet, heating oil gained 5 cents to $2.17 per gallon and wholesale gasoline added 6 cents to $2.13 per gallon.

Gold fell $3.80 to $1,256.10 per ounce, silver lost 10 cents to $16.15 per ounce and copper slipped a penny to $3.01 per pound.

The dollar edged up to 110.20 Japanese yen from 110.13 yen late Tuesday. The euro fell to $1.1557 from $1.1650, and the British pound dropped to $1.3128 from $1.3232.

The yield on the 10-year Treasury dropped to 2.82 percent from 2.88 percent late Tuesday. The two-year yield fell to 2.48 percent from 2.53 percent, and the 30-year sank to 2.96 percent from 3.02 percent.


----------



## bigdog

https://www.usnews.com/news/busines...-stocks-mixed-over-befuddling-us-trade-stance

*US Tech Stocks Jump; Amazon Deal Shakes Health Care Firms*
US stocks are bouncing back from their recent losses as technology companies and banks rise.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — A rally for technology companies helped U.S. stocks recover some of their recent losses Thursday, but trading remained uneven as investors tried to figure out if the tensions between the U.S. and other nations will spill over into a trade war.

Technology companies and banks were responsible for the bulk of the gains. Amazon surged and shook investors in two separate industries. The online retailer said it's buying online pharmacy PillPack, which led to sharp losses for drugstores and companies that distribute prescription medications to pharmacies. Amazon also announced that it is launching its own delivery van business, which hurt UPS and FedEx. U.S. crude oil rose to its highest price since November 2014.

Stocks started the day at their lowest levels in almost a month. Contradictory reports from U.S. officials about trade policy have led the market to lurch between gains and losses, sometimes by the hour.

"What's happening is that the market is watching the president and his team and the president is watching the markets," said Marina Severinovsky, an investment strategist at Schroders.

Severinovsky said the Trump administration doesn't want to derail the economy or the stock market and is sensitive to the way investors react to the ongoing trade disputes. Lately they've sent stocks lower, but if the market rallies in response to some strong second-quarter reports next month, she said the Trump team might feel encouraged to take tougher positions in trade talks.

The S&P 500 index added 16.68 points, or 0.6 percent, to 2,716.31. The Dow Jones Industrial Average rose 98.46 points, or 0.4 percent, to 24,216.05. The Nasdaq composite gained 58.60 points, or 0.8 percent, to 7,503.68. The Russell 2000 index of smaller-company stocks picked up 4.56 points, or 0.3 percent, to 1,645.02.

Amazon shook up multiple industries Thursday after it said it's buying online pharmacy PillPack, which offers pre-sorted dose packaging and home delivery. Investors expected Amazon to use its muscle to reduce costs and drug prices, and that led to sharp losses for drugstores, pharmacy benefits managers and companies that distribute medications.

Amazon rose 2.5 percent to $1,701.45 while Walgreens fell 9.9 percent to $59.70, and medication distributor Cardinal Health shed 4.8 percent to $50.37. Pharmacy benefits manager Express Scripts dipped 1.4 percent to $77.62.

Amazon also announced a new program under which contractors around the country can launch businesses that deliver Amazon packages, meaning Amazon will have new ways to deliver products without relying on companies like UPS and FedEx. UPS lost 2.3 percent to $105.88 and FedEx declined 1.3 percent to $226.67.

Benchmark U.S. crude continued to surge and gained 0.9 percent to $73.45 a barrel in New York. It's at its highest price since November 2014. Brent crude, used to price international oils, rose 0.3 percent to $77.85 a barrel in London.

Oil prices have rallied over the last week. First, investors concluded that OPEC countries will not increase oil production by as much as they feared. Then the U.S. started pressuring countries to stop importing oil from Iran, the world's sixth-largest producer of oil. The Trump administration is threatening other countries, including close allies such as South Korea, with sanctions if they don't cut off Iranian imports by early November, essentially erecting a global blockade.

BJ's Wholesale Club jumped after the company went public again. The stock started trading at $17 a share, at the high end of the company's projections, and then advanced 29.4 percent to $22. BJ's was taken private in 2011.

Madison Square Garden Co. jumped 13 percent to $303.29 after it said it will consider spinning off its sports division, which owns the NBA's New York Knicks and the NHL's Rangers, into a separate publicly traded company.

Still, trade concerns are a major reason the market is having a downbeat finish to the second quarter. The S&P 500 is down 2.4 percent in the last two weeks, trimming its gain for the quarter to 3 percent. The Dow is up just 0.5 percent.

The volatility may worsen at the beginning of the third quarter, as the U.S. is set to impose a 25 percent tariff on billions of dollars of Chinese products starting July 6. In response, China will raise import duties on $34 billion worth of American goods.

Bond prices edged lower. The yield on the 10-year Treasury note rose to 2.84 percent from 2.83 percent.

The dollar rose to 110.64 yen from 110.20 yen. The euro slipped to $1.1555 from $1.1557.

In other commodities trading, gold lost 0.4 percent to $1,251 an ounce. Silver fell 1.2 percent to $16.04 an ounce. Copper shed 1.2 percent to $2.97 a pound.

Wholesale gasoline was unchanged at $2.13 a gallon. Heating oil remained at $2.18 a gallon. Natural gas fell 1.4 percent to $2.94 per 1,000 cubic feet.

Germany's DAX was down 1.4 percent France's CAC 40 shed 1 percent. Britain's FTSE 100 lost 0.1 percent. Japan's benchmark Nikkei 225 index remained almost flat and South Korea's Kospi lost 1.2 percent. Hong Kong's Hang Seng added 0.5 percent.


----------



## bigdog

https://www.usnews.com/news/busines...higher-as-trade-conflict-uncertainty-persists

*US Stocks Tick Higher, but Trade Worries Stop an Early Rally*
US stocks finish mostly higher, but their early gains mostly evaporated as investors focused on unresolved trade tensions.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks finished mostly higher Friday, but they surrendered most of an early gain as worries about rising tariffs once again dampened investors' enthusiasm as the second quarter came to an end.

Banks led the early rally. The Federal Reserve gave the green light for most large U.S. financial institutions to pay bigger dividends to shareholders and buy back more stock. Apparel maker Nike surged after it said sales in North America improved in its latest quarter, helping the Dow Jones Industrial Average to a gain of around 293 points near midday.

Those gains eroded as investors again focused on U.S. trade policy, which has overhung the market since late February. Canada announced $12.6 billion in retaliatory tariffs on U.S. goods in response to U.S. tariffs on steel and aluminum imports. General Motors warned that if the Trump administration places import taxes on cars and car parts, it will likely face retaliation and might have to eliminate jobs in the U.S.

At the close, the Dow's gain was 55.36 points, or 0.2 percent, at 24,271.41. The S&P 500 index edged up 2.06 points, or 0.1 percent, to 2,718.37. The Nasdaq composite rose 6.62 points, or 0.1 percent, to 7,510.30. The Russell 2000 index of smaller-company stocks lost 1.95 points, or 0.1 percent, to 1,643.07. All four indexes ended the second three months of the year with gains with the Russell having the strongest showing, up 7.4 percent.

On Friday, Wells Fargo gained 3.4 percent to $55.44, its biggest gain since shortly after the 2016 Presidential election.

The gain came after the Federal Reserve allowed 32 of the 35 largest banks in the U.S. to raise their quarterly dividends and buy back more stock. The central bank determined that those institutions are in good enough financial shape to weather a major downturn in the economy.

While the Fed's "stress tests" measure a bank's financial health and are separate from its business tactics, investors felt the Fed's approval was a notable win for Wells. Earlier this year the Fed placed numerous restrictions on the bank in response to abusive practices that duped consumers out of millions of dollars.

Nike said revenue in North America grew after several quarters of declines, and its fourth-quarter profit and sales blew past Wall Street forecasts. The athletic apparel company also said it will buy back $15 billion in stock over the next four years. It gained 11.1 percent to $79.68, its biggest surge in almost four years.

With trade tensions in focus throughout the second quarter, stocks didn't make big gains, even after a very strong round of first-quarter corporate reports. The S&P 500 rose 2.9 percent over those three months and the Dow added just 0.7 percent.

Investors felt technology companies and smaller, more U.S.-focused companies were safe picks in case the trade tensions get worse. The Nasdaq composite jumped 6.3 percent and the Russell 2000 index advanced 7.4 percent. Both set records as recently as last week.

The Dow is the only major index still lower for the year, though only down 0.6 percent.

Only a week remains before the U.S. and China each place tariffs on tens of billions of dollars in imports. Shawn Cruz, manager of trader strategy for TD Ameritrade, said the outcome of the broader trade tensions will help determine what stocks do in the months to come. He said stocks might set more records if the situation is resolved in a way the market likes, but if the tensions end up hurting global economic growth, stocks could fall further.

Energy companies and oil prices continued to climb. Benchmark U.S. crude gained 1 percent to $74.15 a barrel in New York and rose 14 percent during the second quarter, to its highest price since late 2014. The S&P 500 index of energy companies climbed almost 13 percent this quarter, far better than the rest of the market and its biggest gain in six and a half years.

Brent crude, used to price international oils, rose 1.9 percent to $79.44 a barrel in London.

Wholesale gasoline climbed 2.2 percent to $2.18 a gallon. Heating oil jumped 1.4 percent to $2.21 a gallon. Natural gas lost 0.5 percent to $2.92 per 1,000 cubic feet.

Bond prices wobbled and turned lower. The yield on the 10-year Treasury note rose to 2.86 percent from 2.84 percent.

Gold added 0.3 percent to $1,254.50 an ounce. Silver gained 1 percent to $16.20 an ounce. Copper fell 0.2 percent to $2.97 a pound.

The dollar rose to 110.85 yen from 110.64 yen. The euro rose to $1.1672 from $1.1555.

France's CAC 40 gained 1.1 percent and the German DAX added 0.9 percent after a deal on migration relieved pressure on the coalition government of Chancellor Angela Merkel. Britain's FTSE 100 added 0.3 percent.

Japan's benchmark Nikkei 225 edged 0.2 percent higher. South Korea's Kospi advanced 0.5 percent and Hong Kong's Hang Seng added 1.6 percent.

7831


----------



## bigdog

*U.S. stock markets will close early at 1 p.m. ET Tuesday ahead of the Independence Day holiday on Wednesday.*






https://finance.yahoo.com/m/075586a...6a54fed/ss_tech-companies-lead-us-stocks.html

*Tech companies lead US stocks higher after rocky start*



Associated Press

U.S. stocks closed higher Monday after a last-minute market rally erased the losses from a daylong slump.

Technology companies led the market rebound. Banks and health care stocks also notched gains. Energy took the biggest losses as crude oil prices declined. Big department store chains and consumer goods companies also declined.

The stock market, which was coming off two weekly losses in a row, was in the red for most of the day following disappointing economic data out of Asia that left global indexes sharply lower.

Trading volume was lighter than usual ahead of Tuesday, when U.S. markets are scheduled to close early for the Independence Day holiday the following day.

"We opened very low and then, during the course of the day, the market started to basically gain some momentum," said Quincy Krosby, chief market strategist at Prudential Financial. "The volume in the market typically comes down markedly in a holiday week, and moves can be exaggerated to the upside as well as to the downside by events, headlines or data."

The S&P 500 index rose 8.34 points, or 0.3 percent, to 2,726.71. The Dow Jones Industrial Average gained 35.77 points, or 0.2 percent, to 24,307.18. The Nasdaq composite jumped 57.38 points, or 0.8 percent, to 7,567.69. The Russell 2000 index of smaller-company stocks picked up 12.02 points, or 0.7 percent, to 1,655.09.

A slump in global markets weighed on U.S. stocks from the get-go Monday, after new economic reports out of China and Japan disappointed traders. A German government crisis also weighed on markets in Europe, which closed lower.

"You saw some of the more tariff-sensitive stocks a little bit weaker on the opening," said JJ Kinahan, chief market strategist for TD Ameritrade. "It's all headline news trading."

U.S. stocks gradually pared their losses as the day went on, led by gains in technology stocks.

Investors continued to focus on global trade tensions. The European Union warned the Trump administration Monday that it might slap tariffs on $300 billion of U.S. exports in retaliation for Trump's threatened tariffs on European cars. On Sunday, Canada started imposing tariffs on billions of dollars of U.S. goods in response to the Trump administration's duties on Canadian steel and aluminum.

The U.S. is set to impose a 25 percent tariff on up to $50 billion of Chinese products starting this Friday. In response, China has said it will raise import duties on $34 billion worth of American goods.

"We're just not sure what's going to happen with that," said Rob Haworth, senior investment strategist with U.S. Bank Wealth Management. "We don't think a lot of the July 6 tariffs have yet to be fully priced into the market."

Technology companies led the market rebound. Micron Technology led the sector, gaining 3.9 percent to $54.48.

"You're getting a reaction to last week, when technology did so poorly and now they're getting a bounce here," Haworth said.

Tracking shares in computer maker Dell vaulted 9 percent to $92.20 after it announced it would go public again after five years as a private company. Meanwhile, shares in VMware jumped 10.2 percent to $162.02 on speculation that Dell may buy the rest of the business software company, which will also issue a special dividend to shareholders.

Wynn Resorts sank 7.9 percent to $154.14 after June revenue growth at the casino operator's resorts in Macau fell well short of Wall Street's expectations.

Shares in several department store chains declined. Nordstrom fell 2.1 percent to $50.71, while Macy's lost 2.4 percent to $36.54. Kohl's gave up 2.2 percent to $71.33.

Bond prices fell. The yield on the 10-year Treasury rose to 2.87 percent from 2.86 percent late Friday.

The increase in bond yields helped lift bank shares. Interest rates on mortgages and other consumer loans tend to move along with bond yields. Rising rates translate into bigger profits for banks from credit cards, mortgages and other consumer loans. Capital One Financial gained 2.1 percent to $93.78.

Benchmark U.S. crude fell 21 cents to settle at $73.94 a barrel in New York. Brent crude, used to price international oils, lost $1.93, or 2.4 percent, to close at $77.30 in London. The decline in oil prices weighed on energy stocks. Cimarex Energy lost 4 percent to $97.66.

The dollar fell to 110.86 yen from 110.88 yen on Friday. The euro weakened to $1.1610 from $1.1669.

Gold fell $12.80, or 1 percent, to $1,241.70 an ounce. Silver dropped 36 cents, or 2.2 percent, to $15.84 an ounce. Copper lost 2 cents to $2.94 a pound.

In other energy futures trading, heating oil dropped 5 cents to $2.16 a gallon. Wholesale gasoline also fell 5 cents to $2.11 a gallon. Natural gas slid 6 cents to $2.86 per 1,000 cubic feet.

Major indexes in Europe finished in the red. Germany's DAX fell 0.6 percent, while France's CAC 40 lost 0.9 percent. Britain's FTSE 100 gave up 1.2 percent.

Markets in Asia were overshadowed by weaker than expected Chinese manufacturing data and a softening in Japan's economic outlook.

China's manufacturing activity slowed in June, adding to concerns that the economy is cooling due to tighter government controls on lending. Meanwhile, the Bank of Japan's "tankan" survey measuring confidence among large-scale manufacturers declined for the first time in two years.

Japan's benchmark Nikkei 225 index plunged 2.2 percent and South Korea's Kospi tumbled 2.4 percent. Australia's S&P/ASX 200 lost 0.3 percent. Taiwan's benchmark fell but Southeast Asian indexes were mixed. Hong Kong's markets were closed for a market holiday.

U.S. stock markets will close early at 1 p.m. ET Tuesday ahead of the Independence Day holiday on Wednesday.


----------



## bigdog

*U.S. stock markets will be closed  on tomorrow Wednesday for the July 4 Independence Day holiday.*





https://www.usnews.com/news/busines...arkets-tumble-as-china-us-trade-tensions-rise

*S&P 500 Snaps 3-Day Winning Streak; Trade Fireworks Ahead?*
U.S. stocks closed lower Tuesday as a swift sell-off in the final minutes of trading wiped out earlier gains and snapped a three-day winning streak for the market.

By ALEX VEIGA, AP Business Writer

U.S. stocks closed lower Tuesday as a swift sell-off in the final minutes of trading wiped out earlier gains and snapped a three-day winning streak for the market.

Technology companies and banks led the market slide, outweighing gains in health care and energy stocks. The Dow Jones Industrial Average and S&P 500 each fell 0.5 percent. The Nasdaq composite fell nearly 1 percent, while smaller companies bucked the trend with modest gains.

The trading session was shortened ahead of the Independence Day holiday. Once investors return Thursday, they'll have no shortage of reasons to snap out of the holiday lull by the end of the week.

On Friday the U.S. is set to impose a 25 percent tariff on $34 billion worth of Chinese imports. And China is expected to strike back with tariffs on a similar amount of U.S. exports. The big question is how far the two countries will go in their dispute over trade.

"The market might get worked up about a tit-for-tat retaliation, which we'll probably see," said Scott Wren, senior global equity strategist for the Wells Fargo Investment Institute. "There's a relatively low probability of an all-out trade war."

The Trump administration has said it won't target an additional $16 billion worth of Chinese goods until it gathers further public comments. It's also identifying an additional $200 billion in Chinese goods for 10 percent tariffs, which could take effect if Beijing retaliates.

Uncertainty over U.S. trade policy has hung over the market since late February. The S&P 500 posted two consecutive weekly declines heading into this week.

Investors will also have their eye Friday on the Labor Department's latest monthly jobs and wage report.

Analysts expect the report will show that hourly wages rose 2.8 percent last month. But if it comes in above 3 percent, that could be a bad day for the market, Wren said.

"The market is paying very close attention to wage pressure, very close attention to anything that's going to hurt corporate margins, anything that's going to make the Fed want to quicken the pace and magnitude of interest rate hikes," Wren said.

On Tuesday, gainers slightly outnumbered decliners on the New York Stock Exchange, with small-company stocks faring better than the overall market. Trading volume was lighter than usual going into Wednesday's U.S. market holiday.

The S&P 500 index fell 13.49 points, or 0.5 percent, to 2,713.22. The Dow Jones Industrial Average slid 132.36 points, or 0.5 percent, to 24,174.82. The Nasdaq lost 65.01 points, or 0.9 percent, to 7,502.67. Smaller-company stocks bucked the broader market decline. The Russell 2000 index picked up 5.33 points, or 0.3 percent, to 1,660.42.

Bond prices rose. The yield on the 10-year Treasury fell to 2.83 percent from 2.87 percent late Monday.

Technology and bank stocks took some of the heaviest losses. Chip maker Micron Technology slumped 5.5 percent to $51.48, while Charles Schwab dropped 2.1 percent to $50.24.

Traders sent shares in Campbell Soup higher after the New York Post reported an activist investor is in talks with shareholders about potentially selling the company. The stock gained 1.8 percent to $41.03.

Crude oil futures pared some of their early gains. Benchmark U.S. crude added 20 cents to $74.14 a barrel in New York. The contract reached more than $75 a barrel in early trading. Brent crude, used to price international oils, rose 46 cents to $77.76 a barrel in London.

The dollar fell to 110.62 yen from 110.86 yen on Monday. The euro strengthened to $1.1652 from $1.1610.

Gold rose $11.80, or 1 percent, to $1,253.50 an ounce. Silver gained 21 cents to $16.04 an ounce. Copper slipped 3 cents to $2.92 a pound.

In other energy futures trading, heating oil gained 1 cent to $2.16 a gallon. Wholesale gasoline added a penny to $2.12 a gallon. Natural gas rose a penny to $2.87 per 1,000 cubic feet.

Major stock indexes in Europe notched gains. Germany's DAX rose 0.7 percent as German leaders put to rest fears that a weekslong dispute on migration may topple Chancellor Angela Merkel's fourth government. France's CAC 40 added 0.8 percent and Britain's FTSE 100 gained 0.5 percent.

In Asia, Hong Kong's Hang Seng closed 1.4 percent lower, while Japan's benchmark Nikkei 225 index lost 0.1 percent. South Korea's Kospi added 0.1 percent. Australia's S&P/ASX 200 rose 0.5 percent after the Reserve Bank of Australia kept its 1.5 percent benchmark interest rate unchanged.


----------



## bigdog

*U.S. stock markets closedTODAY for the July 4 Independence Day holiday.*




*REST OF WORLD REPORTED*





https://finance.yahoo.com/m/2bf4feac-49cf-306e-b22e-e1fc7d4c2bc9/ss_asian-shares-track-wall-st.html

*Asian shares track Wall St decline as China-US tariffs loom*



Associated PressJuly 4, 2018


BANGKOK (AP) — Asian shares were moderately lower on Wednesday after U.S. stocks succumbed to a sell-off in the final minutes of trading, snapping a three-day winning streak.

KEEPING SCORE: Japan's Nikkei 225 index fell 0.4 percent to 21,707.11 and the Shanghai Composite index dropped 0.7 percent to 2,767.91. Hong Kong's Hang Seng index fell 1.1 percent to 28,239.11 and the Kospi in South Korea lost 0.4 percent to 2,264.58. Australia's S&P ASX/200 gave up 0.6 percent to 6,176.00. Shares also fell in Southeast Asia and Taiwan.

WALL STREET: Technology companies and banks led the market slide, outweighing gains in health care and energy stocks. The trading session, shortened ahead of the Independence Day holiday, pulled the S&P 500 index down 0.5 percent to 2,713.22. The Dow Jones Industrial Average slid 0.5 percent to 24,174.82 and the Nasdaq lost 0.9 percent to 7,502.67. Smaller-company stocks bucked the broader market decline, with the Russell 2000 index picking up 0.3 percent, to 1,660.42.

CHINA-U.S. TRADE: On Friday the U.S. is set to impose a 25 percent tariff on $34 billion worth of Chinese imports. And China is expected to strike back with tariffs on a similar amount of U.S. exports. The big question is how far the two countries will go in their dispute over trade. The Trump administration has said it won't target an additional $16 billion worth of Chinese goods until it gathers further public comments. It's also identifying an additional $200 billion in Chinese goods for 10 percent tariffs, which could take effect if Beijing retaliates.

CHINESE CURRENCY: Reported comments by the head of China's central bank saying he's closely watching the recent slide in the value of the yuan, also known as the renminbi (RMB), against the U.S. dollar have helped to reassure investors. People's Bank of China Gov. Yi Gang said financial risks were under control and the China's international balance of payments and currency flows were stable.

ANALYST VIEWPOINT: "The statement puts paid to any fears that the PBOC could be engineering a depreciation to cushion the economy, as Yi Gang stakes his credibility on the RMB being stable within the bounds of broad USD volatility," Chang Weiliang of Mizuho Bank said in a commentary. The yuan fell to 6.70 yuan to the U.S. dollar on Tuesday but ended the day at 6.64 yuan in its first trading day gain in two weeks, Chang said.

ENERGY: Benchmark U.S. crude added 44 cents to $74.58 per barrel in electronic trading on the New York Mercantile Exchange. It added 20 cents to $74.14 a barrel on Tuesday, reaching more than $75 a barrel in early trading. Brent crude, used to price international oils, rose 31 cents to $78.07 per barrel.

CURRENCIES: The dollar fell to 110.44 yen from 110.59 yen on Tuesday. The euro strengthened to $1.1664 from $1.1657.


https://finance.yahoo.com/m/1b7c8079-c921-318b-8e1f-815a23c131df/ss_european-markets-close.html

*European markets close marginally higher as trade war concerns hit tech stocks*

The pan-European Stoxx 600 edged up 0.04 percent during Wednesday deals.
Trading volumes were lighter than usual because U.S. financial markets were closed for Independence Day.
Market focus remained largely attuned to the ongoing U.S.-Sino trade row.

European stocks closed marginally higher Wednesday afternoon, amid elevated tensions between the U.S. and China over looming trade tariffs and investment restrictions.

The pan-European Stoxx 600 edged up 0.04 percent during the day's deal-making, with a slim majority of sectors in positive territory.

The FTSE 100 in London and Germany's Xetra Dax closed lower while the French CAC 40 managed to eke out a small gain.

Trading volumes were lighter than usual because U.S. financial markets were closed for the Independence Day holiday.

Europe's technology stocks led the losses, down more than 1 percent after a slide in U.S. chip makers overnight. U.S. peer Micron was banned from selling chips in China late Tuesday, as heightened fears over trade frictions prompted a slump in global tech shares. Europe's STMicroelectronics and Siltronic were the worst sectoral performers, down over 3 and 7 percent respectively.

Looking at individual stocks, French healthcare company Orpea rose towards the top of the European benchmark after HSBC raised its stock recommendation to "buy." Shares of the Paris-listed company ended up 2.06 percent on the news.

Meanwhile, shares of Danske Bank dipped 2.01 percent after Danish daily newspaper Berlingske cited new data in an Estonian money laundering legal case.

Gold hit a one week high on Wednesday helped by a softer dollar. The U.S currency fell versus the euro and the yuan, with the Chinese currency continuing its recovery from recent 11-month lows.

*Trade frictions*
Britain's dominant services industry gained momentum last month, ramping up expectations that the country's central bank could soon raise interest rates. The IHS Markit services Purchasing Managers' Index (PMI) rose to an eight-month high of 55.1 in June, further supporting recent signs of the U.K.'s tentative economic recovery.

Elsewhere, Germany also recorded robust growth in its services sector. Markit's final services PMI rose to 54.1 in June, climbing to its highest level in four months.

Market focus is largely attuned to the ongoing U.S.-Sino trade row, with investors concerned that the dispute could soon derail a rare period of synchronized global growth. At the end of the trading week, Washington is set to impose tariffs on $34 billion worth of goods from Beijing. China is then expected to respond with charges of its own on U.S. products.


----------



## bigdog

https://www.usnews.com/news/busines...counts-down-to-us-china-tariffs-markets-mixed

*Tech, Health Care Companies Drive Solid Gains for US Stocks*
Technology and health care companies led U.S. stocks broadly higher Thursday, setting the market on track to break a two-week losing streak.

By ALEX VEIGA, AP Business Writer

Technology and health care companies led U.S. stocks broadly higher Thursday, setting the market on track to break a two-week losing streak.

Some encouraging economic data helped put investors in a buying mood, though trading volume was relatively subdued as markets reopened following the Independence Day holiday in the U.S.

Wall Street could be in for a bumpier ride Friday, when U.S. tariffs on billions of Chinese goods are set to kick in. Investors will also be watching out for the Labor Department's latest monthly report on jobs and wages.

"It feels like the market is responding to the stronger economic data and some easing of the trade tensions overnight and focusing a bit more on fundamentals and a bit less on the ongoing concerns about trade," said Christine Scalley, U.S. equity strategist at J.P. Morgan Private Bank.

The S&P 500 index rose 23.39 points, or 0.9 percent, to 2,736.61. The Dow Jones Industrial Average gained 181.92 points, or 0.8 percent, to 24,356.74. The Nasdaq composite added 83.75 points, or 1.1 percent, to 7,586.43. The Russell 2000 index of smaller-company stocks picked up 19.06 points, or 1.1 percent, to 1,679.48.

While uncertainty over U.S. trade policy has hung over the market for months, tensions intensified in recent weeks. The S&P 500 posted two consecutive weekly declines heading into this week.

On Friday the U.S. is set to impose a 25 percent tariff on $34 billion worth of Chinese imports. And China is expected to strike back with tariffs on a similar amount of U.S. exports.

The Trump administration has said it won't target an additional $16 billion worth of Chinese goods until it gathers further public comments. It's also identifying an additional $200 billion in Chinese goods for 10 percent tariffs, which could take effect if Beijing retaliates.

On Thursday in China, Commerce Ministry spokesman Gao Feng hit back at "threats and blackmail" ahead of the planned U.S. tariff hike. He added that China would be forced to fight back to protect its own interests.

The big question remains: how far will the two countries go in their dispute.

"The market tomorrow morning will be very focused on did the U.S. proceed -- which at this point it feels like they're going to -- and was there any reaction overseas from China," Scalley said.

Meanwhile, a German newspaper report suggested Thursday that the U.S. may propose reducing impending tariffs on auto imports from the European Union to zero.

Major European indexes surged on the report, which helped prime U.S. indexes for their solid start early Thursday.

Some encouraging U.S. economic data also gave traders something to cheer about. The Institute for Supply Management issued data indicating that U.S. service firms expanded at a surprisingly strong pace in June. Separately, payroll processor ADP said private U.S. employers added 177,000 in June. The Labor Department is due to release its June jobs report Friday.

Technology stocks, which lead all other sectors in the S&P 500 with an 11.3 percent gain this year, led the rally. Qorvo climbed 5.7 percent to $81.82.

Several health care sector stocks also helped lift the market. Celgene gained 2.2 percent to $80.39.

Benchmark U.S. crude dropped $1.20, or 1.6 percent, to settle at $72.94 per barrel in New York. Brent crude, used to price international oils, slid 85 cents, or 1.1 percent, to close at $77.39 per barrel in London.

The decline in oil prices weighed on some energy stocks. Marathon Oil dropped 2.7 percent to $20.70.

Bond prices were little changed. The yield on the 10-year Treasury held at 2.83 percent.

The dollar strengthened to 110.68 yen from 110.49 yen on Wednesday. The euro rose to $1.1680 from $1.1667.

Gold added $5.30 to $1,258.80 an ounce. Silver gained 5 cents to $16.10 an ounce. Copper fell 9 cents, or 3.1 percent, to $2.83 a pound.

In other energy futures trading, heating oil gained 1 cent to $2.18 a gallon. Wholesale gasoline added a penny to $2.13 a gallon. Natural gas fell 3 cents to $2.84 per 1,000 cubic feet.

Markets in Europe finished higher. Germany's DAX jumped 1.2 percent and France's CAC 40 climbed 0.9 percent. Britain's FTSE 100 gained 0.4 percent.

In Asia, markets ended the day mostly lower after China reaffirmed its determination to protect its interests in its rancorous trade dispute with Washington. Japan's Nikkei 225 index fell 0.8 percent, while Hong Kong's Hang Seng index closed 0.2 percent lower.


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## bigdog

https://www.usnews.com/news/busines...ks-rebound-as-us-tariffs-on-china-take-effect

*US Stocks Snap Higher Despite Escalating US-China Trade Tiff*
The trade dispute between the U.S. and China escalated Friday, but Wall Street focused on a solid jobs report instead.

By ALEX VEIGA, AP Business Writer

The trade dispute between the U.S. and China escalated Friday, but Wall Street focused on a solid jobs report instead.

After a wobbly start, U.S. stocks mounted a broad rally, shaking off two consecutive weekly losses.

Growing jitters in recent weeks over a stepped-up trading dispute between the world's two largest economies had weighed on the markets well ahead of Friday, when Beijing and Washington launched dueling tariffs on billions in goods.

"The markets had already sold off the prior two weeks," said Dan Heckman, national investment consultant at U.S. Bank Wealth Management. "The market probably had built that expectation in already and today we're seeing a nice rebound."

A solid pickup in hiring by U.S. employers last month also helped keep investors in a buying mood.

The S&P 500 index rose 23.21 points, or 0.8 percent, to 2,759.82. The Dow Jones Industrial Average gained 99.74 points, or 0.4 percent, to 24,456.48. The Nasdaq composite added 101.96 points, or 1.3 percent, to 7,688.39. The Russell 2000 index of smaller-company stocks picked up 14.57 points, or 0.9 percent, to 1,694.05.

The U.S. put a 25 percent tax on $34 billion worth of Chinese imports Friday. China retaliated with taxes on an equal amount of U.S. products, including soybeans, pork and electric cars, calling the move the start of the "biggest trade war in economic history."

Though the first exchange of tariffs is unlikely to inflict much economic harm on either nation, the damage could soon escalate. President Donald Trump, who has claimed that winning a trade war would be easy, has said that he's prepared to drastically raise tariffs on more Chinese imports. Mounting tariffs could raise costs across the board for consumers and businesses, slowing growth and investment and hurting companies that rely on imported parts to make their goods.

Despite the market's gains Friday, much damage has already been inflicted on stocks that would stand to lose in a protracted trade battle with China. American companies that do a lot of business there have seen steep drops in their stock prices in the past few weeks.

Aircraft maker Boeing, which relies on China for 12.3 percent of its sales, according to FactSet, has seen its stock fall 9.9 percent over the last month as the trade tensions with China worsened.

Heavy equipment maker Caterpillar, for whom China is also its second-biggest market after the U.S., is off 13.5 percent over the same time. Liquor maker Brown-Forman, whose products include Jack Daniels, is off 15 percent since late May. Whiskey, along with soybeans, pork and cheese, is among the products Chinese is slapping retaliatory tariffs on.

As the prospect of Chinese tariffs on soybeans grew in recent weeks, the price of soybeans has fallen sharply. Soybean futures have fallen from $10.42 a bushel in late May to $8.95 Friday, a drop of 14 percent.

That hurts U.S. soybean farmers and could also have an impact on makers of farm equipment, such as Deere & Co. Deere's stock has fallen 11.7 percent over the last month. Last year China bought 30 percent of the soybeans produced in the U.S.

"The market is counting on this to subside," said Erik Davidson, chief investment officer at Wells Fargo Private Bank. "If they get an indication that this will continue to escalate, that will cause some problems."

Investors also welcomed new data Friday from the government showing that U.S. employers kept up a brisk pace of hiring last month, without having to hike wages much. Markets have been watching to see if tight labor market conditions would force wages higher, a sign of inflation.

The Labor Department said that U.S. employers added 213,000 jobs in June. Average hourly pay rose just 2.7 percent from a year earlier, which means that after adjusting for inflation wages remain nearly flat.

Health care stocks posted the biggest gains, led by Biogen. The drugmaker's stock soared 19.6 percent to $357.48 on encouraging results from an Alzheimer's therapy.

Technology companies also notched solid gains. Advanced Micro Devices rose 5.6 percent to $16.36.

U.S. crude oil prices reversed an early slide. Benchmark U.S. crude gained 86 cents, or 1.2 percent, to settle at $73.80 per barrel in New York. Brent crude, used to price international oils, fell 28 cents to close at $77.11 per barrel in London.

Bond prices rose. The yield on the 10-year Treasury fell to 2.82 percent from 2.83 percent late Thursday.

The dollar fell to 110.45 yen from 110.68 yen on Thursday. The euro strengthened to $1.1745 from $1.1680.

Gold dropped $3 to $1,255.80 an ounce. Silver slipped 3 cents to $16.07 an ounce. Copper was little changed at $2.82 a pound.

In other energy futures trading, heating oil slipped 1 cent to $2.17 a gallon. Wholesale gasoline lost 2 cents to $2.11 a gallon. Natural gas rose 2 cents to $2.86 per 1,000 cubic feet.

Major indexes in Europe finished higher. Germany's DAX added 0.3 percent, while France's CAC 40 rose 0.2 percent. Britain's FTSE 100 gained 0.2 percent.

Asian markets erased earlier losses to finish mostly higher as the uncertainty ended over whether Washington would escalate tensions with Beijing. Hong Kong's Hang Seng index gained 0.5 percent, while South Korea's Kospi added 0.7 percent. Tokyo's Nikkei 225 jumped 1.1 percent after a four-day losing streak. Australia's S&P-ASX 200 rose 0.9 percent.

8065


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## bigdog

https://www.usnews.com/news/busines...es-rise-despite-escalating-us-china-trade-row

*Stocks Jump Again as Trade-War Worries Take Back Seat*
U.S. stocks climbed with other markets on Monday as worries about trade tensions between the United States and the rest of the world took a back seat.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Never mind the trade war. Here comes earnings season.

U.S. stocks climbed with other markets on Monday as concerns about trade tensions between the United States and the rest of the world took a back seat. The calendar for upcoming weeks is full of companies telling investors how much profit they made during the spring, and the expectation is for another quarter of gangbusters growth.

That plus Friday's report showing U.S. hiring remains strong have helped to support markets despite the world's two largest economies imposing dueling tariffs on each other at the end of last week.

The S&P 500 rose 24.35 points, or 0.9 percent, to 2,784.17. The Dow Jones industrial average jumped 320.11, or 1.3 percent, to 24,776.59, and the Nasdaq composite gained 67.81, or 0.9 percent, to 7,756.20.

It's the third straight day that the S&P 500 has climbed at least 0.8 percent. It follows a rocky few months where some investors sold stocks on the assumption that a full-blown, harmful trade war was a certainty. Others still expect negotiated settlements to be the final result.

"The market in the second quarter tried to price in this whole thing, and it was probably a little too fast for that," said Matthew Miskin, market strategist with John Hancock Investments. "There still are a lot of negative developments happening here, but before earnings season typically tends to be a sweet spot for the market. "

Stocks often rise in anticipation of healthy earnings reports, Miskin said, and the results for this latest quarter are forecast to be much stronger than usual for companies this many years into an economic expansion.

Across the S&P 500, analysts are calling for 19 percent growth in earnings per share from a year earlier, according to S&P Global Market Intelligence. Lower tax rates and stronger revenues are helping to drive the gains.

The growth may be peaking, however. Perhaps more important than the numbers for last quarter will be what CEOs say in conference calls about how much the trade tensions will hurt their profits later in the year.

"It's hard to not see it being an issue that hurts margins," Miskin said.

Citigroup, JPMorgan Chase and Wells Fargo are among this week's headliners, and all three are reporting their results on Friday.

Bank stocks were also among the market's biggest winners on Monday. Financial stocks in the S&P 500 jumped 2.3 percent for the largest gain among the 11 sectors that make up the index.

They rose with Treasury yields, which can translate into bigger profits for banks by enabling them to charge higher rates for mortgages and other loans.

The yield on the 10-year Treasury note climbed to 2.86 percent from 2.82 percent late Friday.

On the flip side, higher interest rates can lure buyers away from high-dividend stocks because they become more interested in bonds. That led to losses for telecoms and real-estate investment trusts. Utilities were the worst-performing area of the S&P 500 and dropped 3.1 percent.

Among other market winners was Helen of Troy, which surged 12.7 percent to $114.85 after the consumer-products company reported stronger revenue for the spring, with particularly solid growth in online sales.

In overseas markets, France's CAC 40 rose 0.4 percent, Germany's DAX added 0.4 percent and the FTSE 100 climbed 0.9 percent.

Japan's Nikkei 225 jumped 1.2 percent, the Hang Seng in Hong Kong climbed 1.3 percent and the Kospi in South Korea added 0.6 percent.

Stocks from emerging markets, which have been on a wild ride up and down this year, jumped 1.5 percent.

The dollar edged up to 110.82 Japanese yen from 110.45 yen late Friday. The euro inched up to $1.1749 from $1.1745, and the British pound slipped to $1.325 from $1.3266.

Benchmark U.S. crude rose 5 cents to $73.85 per barrel. Brent crude, the international standard, rose 96 cents to $78.07 a barrel.

In other energy trading, heating oil rose 3 cents to $2.20 a gallon and wholesale gasoline rose 4 cents to $2.15 a gallon. Natural gas fell 3 cents to $2.83 per 1,000 cubic feet.

Gold rose $3.80 to settle at $1,259.60, silver added 7 cents to $16.14 per ounce and copper gained 3 cents to $2.85 per pound.


----------



## Skate

bigdog said:


> View attachment 88251
> 
> 
> https://www.usnews.com/news/busines...es-rise-despite-escalating-us-china-trade-row
> 
> *Stocks Jump Again as Trade-War Worries Take Back Seat*
> U.S. stocks climbed with other markets on Monday as worries about trade tensions between the United States and the rest of the world took a back seat.
> 
> By STAN CHOE, AP Business Writer
> 
> NEW YORK (AP) — Never mind the trade war. Here comes earnings season.
> 
> U.S. stocks climbed with other markets on Monday as concerns about trade tensions between the United States and the rest of the world took a back seat. The calendar for upcoming weeks is full of companies telling investors how much profit they made during the spring, and the expectation is for another quarter of gangbusters growth.
> 
> That plus Friday's report showing U.S. hiring remains strong have helped to support markets despite the world's two largest economies imposing dueling tariffs on each other at the end of last week.
> 
> The S&P 500 rose 24.35 points, or 0.9 percent, to 2,784.17. The Dow Jones industrial average jumped 320.11, or 1.3 percent, to 24,776.59, and the Nasdaq composite gained 67.81, or 0.9 percent, to 7,756.20.
> 
> It's the third straight day that the S&P 500 has climbed at least 0.8 percent. It follows a rocky few months where some investors sold stocks on the assumption that a full-blown, harmful trade war was a certainty. Others still expect negotiated settlements to be the final result.
> 
> "The market in the second quarter tried to price in this whole thing, and it was probably a little too fast for that," said Matthew Miskin, market strategist with John Hancock Investments. "There still are a lot of negative developments happening here, but before earnings season typically tends to be a sweet spot for the market. "
> 
> Stocks often rise in anticipation of healthy earnings reports, Miskin said, and the results for this latest quarter are forecast to be much stronger than usual for companies this many years into an economic expansion.
> 
> Across the S&P 500, analysts are calling for 19 percent growth in earnings per share from a year earlier, according to S&P Global Market Intelligence. Lower tax rates and stronger revenues are helping to drive the gains.
> 
> The growth may be peaking, however. Perhaps more important than the numbers for last quarter will be what CEOs say in conference calls about how much the trade tensions will hurt their profits later in the year.
> 
> "It's hard to not see it being an issue that hurts margins," Miskin said.
> 
> Citigroup, JPMorgan Chase and Wells Fargo are among this week's headliners, and all three are reporting their results on Friday.
> 
> Bank stocks were also among the market's biggest winners on Monday. Financial stocks in the S&P 500 jumped 2.3 percent for the largest gain among the 11 sectors that make up the index.
> 
> They rose with Treasury yields, which can translate into bigger profits for banks by enabling them to charge higher rates for mortgages and other loans.
> 
> The yield on the 10-year Treasury note climbed to 2.86 percent from 2.82 percent late Friday.
> 
> On the flip side, higher interest rates can lure buyers away from high-dividend stocks because they become more interested in bonds. That led to losses for telecoms and real-estate investment trusts. Utilities were the worst-performing area of the S&P 500 and dropped 3.1 percent.
> 
> Among other market winners was Helen of Troy, which surged 12.7 percent to $114.85 after the consumer-products company reported stronger revenue for the spring, with particularly solid growth in online sales.
> 
> In overseas markets, France's CAC 40 rose 0.4 percent, Germany's DAX added 0.4 percent and the FTSE 100 climbed 0.9 percent.
> 
> Japan's Nikkei 225 jumped 1.2 percent, the Hang Seng in Hong Kong climbed 1.3 percent and the Kospi in South Korea added 0.6 percent.
> 
> Stocks from emerging markets, which have been on a wild ride up and down this year, jumped 1.5 percent.
> 
> The dollar edged up to 110.82 Japanese yen from 110.45 yen late Friday. The euro inched up to $1.1749 from $1.1745, and the British pound slipped to $1.325 from $1.3266.
> 
> Benchmark U.S. crude rose 5 cents to $73.85 per barrel. Brent crude, the international standard, rose 96 cents to $78.07 a barrel.
> 
> In other energy trading, heating oil rose 3 cents to $2.20 a gallon and wholesale gasoline rose 4 cents to $2.15 a gallon. Natural gas fell 3 cents to $2.83 per 1,000 cubic feet.
> 
> Gold rose $3.80 to settle at $1,259.60, silver added 7 cents to $16.14 per ounce and copper gained 3 cents to $2.85 per pound.




It’s been 11 Years, 5 Months & 24 Days since Bigdog started this thread - a total of 3,123 posts.

*What a mile stone - well done Bigdog!*

Bigdog even managed to complete his posting on time when overseas, postings we have come to enjoy & appreciate.

Skate


----------



## Joe Blow

Skate said:


> It’s been 11 Years, 5 Months & 24 Days since Bigdog started this thread - a total of 3,123 posts.
> 
> *What a mile stone - well done Bigdog!*
> 
> Bigdog even managed to complete his posting on time when overseas, postings we have come to enjoy & appreciate.
> 
> Skate



I agree Skate. This thread is the greatest single act of long term commitment and dedication that I've ever seen on a forum. Come rain, hail or shine, bigdog will be there to update you on the US and other international markets.

Thank you bigdog for your tireless efforts in keeping ASF members and visitors informed every day!


----------



## bigdog

https://www.usnews.com/news/busines.../asian-markets-mirror-optimism-on-wall-street

*US Stocks Climb Again as Pepsi Leads Household Goods Rally*
US stocks rose for the fourth day in a row as Pepsi led household goods makers higher. Technology companies also climbed

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks shook off some midday doldrums and rose for the fourth day in a row Tuesday as strong results from Pepsi helped household goods companies. The market is at its highest level since early February.

Shares of most kinds of large companies finished higher, with food and consumer products makers, energy companies and utilities making some of the biggest gains. Pepsi staged its biggest rally in almost nine years after a solid second-quarter report.

The S&P 500 is the highest it's been since Feb. 1 and has climbed seven times in the last eight days even though the U.S. and China are now in open conflict over trade. Wall Street has focused instead on last week's strong jobs report for June as well as company earnings reports.

Invesco Chief Global Market Strategist Kristina Hooper said investors are taking a risk by overlooking how damaging the trade war might get.

"This is all about pushing aside that which is messy and difficult to calculate," she said. "It's far easier to ignore it."

The S&P 500 index added 9.67 points, or 0.3 percent, to 2,793.84. The Dow Jones Industrial Average rose 143.07 points, or 0.6 percent, to 24,919.66.

The Nasdaq composite picked up 3 points to 7,759.20. The Russell 2000 index of smaller-company stocks lost 8.99 points, or 0.5 percent, to 1,695.62 after big gains over the last five days. Slightly more stocks rose than fell on the New York Stock Exchange.

Major U.S. banks including JPMorgan Chase and Citigroup will announce their results Friday morning, and most of the companies in the S&P 500 will report their results in the weeks after that.

Pepsi's beverage sales are still struggling as the company tries to adjust to Americans' changing drinking habits. The maker of Gatorade, Mountain Dew and Tropicana said sales in North America fell, but its earnings were better than expected and analysts were pleased with its results in other markets.

The stock rose 4.8 percent to $112.89.

Investors are looking forward to another round of strong profit growth thanks to the growing U.S. economy and the corporate tax cut that took effect at the end of 2017. Hooper, of Invesco, said that could help stocks over the next few weeks, but said the market might struggle after that.

She said the taxes the U.S. placed on imported washing machines in January have clearly hurt sales, and there are signs the newer tariffs are affecting business spending.

U.S. crude oil rose 0.4 percent to $74.11 a barrel in New York. Brent crude, used to price international oils, gained 1 percent to $78.86 a barrel in London.

A shakeup at Lowe's continued as the home improvement chain said its chief operating officer and several other executives are leaving because their jobs are being eliminated or assigned to other executives. Marvin Ellison became Lowe's CEO on July 2 and the company's chief financial officer announced his retirement in June.

Lowe's climbed 2.1 percent to $99.01.

J.M. Smucker said it will sell its U.S. baking business, including Pillsbury. Brynwood Partners will buy the division for $375 million. Smucker said the business had about $370 million in sales over its last fiscal year and the sale will reduce its adjusted profit by 25-30 cents a share this year. The stock declined 1.6 percent to $109.14.

Financial companies have fared far worse than the rest of the market this year, and that continued Tuesday. Citigroup fell 1 percent to $68.23 and insurer MetLife lost 1.2 percent to $44.91.

Bond prices were little changed after a sharp drop one day earlier. The yield on the 10-year Treasury note held steady at 2.86 percent.

Utilities and phone companies recovered some of Monday's losses. Those stocks pay large dividends, and investors often view them as alternatives to bonds. When bond yields rise, the big dividend payers become less appealing to investors who are seeking a source of steady income.

In other commodities trading, wholesale gasoline added 0.5 percent to $2.16 a gallon. Heating oil rose 1.2 percent to $2.22 a gallon. Natural gas fell 1.4 percent to $2.79 per 1,000 cubic feet.

Gold fell 0.3 percent to $1,255.40 an ounce. Silver lost 0.3 percent to $16.09 an ounce. Copper sank 0.4 percent to $2.84 a pound.

The dollar rose to 111.28 yen from 110.82 yen. The euro fell to $1.1745 from $1.1749.

France's CAC 40 gained 0.7 percent and the German DAX added 0.5 percent. The FTSE 100 index of British shares rose 0.1 percent. The FTSE 100 has rallied over the last few days as investors saw signs Britain would keep closer trade ties with the European Union after it leaves the EU.

A cabinet meeting held Friday by Prime Minister Theresa May yielded a plan that favors closer trade ties including a partial free trade zone.

Japan's benchmark Nikkei 225 added 0.7 percent and South Korea's Kospi gained 0.4 percent. In Hong Kong the Hang Seng dipped less than 0.1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...e-as-asia-braces-for-more-us-tariffs-on-china

*Stocks Skid as Trade War Worsens With New Tariff Threats*
Global stocks skid after the U.S. threatened to put taxes on an additional $200 billion in imports from China and Beijing said it will retaliate.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Global stock indexes sank Wednesday after the Trump administration released a list of $200 billion in goods that could be hit with tariffs and China said it would retaliate. The dollar spiked and big exporters plunged.

Companies that sell computer chips, oil, basic materials and heavy machinery dropped after the Trump administration proposed a 10 percent tax on a wide list of imports. It is scheduled to make a decision on the potential tariffs after Aug. 31.

China's government said it will take "firm and forceful measures" if the new tariffs are enacted. That response would likely include measures other than tariffs. Trump has threatened to put new taxes almost everything the U.S. imports from China.

Jack Ablin, chief investment officer for Cresset Wealth Advisors, said the tariffs can have big effects: a tariff on an import from one country can lead to broad price increases for similar items, and rising taxes and costs might can companies to change their supply lines in less efficient ways.

"When you start adding all of that together, you end up with typically higher inflation and low productivity," he said. "Higher inflation tends to rob consumers of their income and lower productivity tends to rob companies of their profits."

A four-day winning streak for the S&P 500 ended as the benchmark index lost 19.82 points, or 0.7 percent, to 2,774.02. The Dow Jones Industrial Average dropped 219.21 points, or 0.9 percent, to 24,700.75. The Nasdaq composite fell 42.59 points, or 0.5 percent, to 7,716.61. The Russell 2000, an index of smaller and more U.S.-focused companies, gave up 11.96 points, or 0.7 percent, to 1,683.66.

The S&P 500 had closed at a five-month high Tuesday.

The new list of tariff targets from the U.S. Trade Representative includes vacuum cleaners, furniture and car and bicycle parts, but U.S.-branded smartphones and laptops were excluded. Still, chipmakers, which make large portions of their sales in China, slumped. Nvidia fell 2.3 percent to $247.53 and Micron Technology lost 2.8 percent to $54.18.

Construction equipment maker Caterpillar lost 3.2 percent to $136.76 and farm equipment maker Deere lost 2.2 percent to $141.42.

The ICE U.S. dollar index jumped 0.6 percent, a large move. The dollar rose sharply against the Japanese currency, increasing to 112.04 yen from 111.28 yen. The euro fell to $1.1674 from $1.1745.

The stronger dollar hurts exporters because it makes U.S. goods and commodities more expensive in other markets. Crude oil prices tumbled partly because of the rising dollar and partly because Libya said it will start exporting oil again, a move that will increase supplies.

Benchmark U.S. crude fell 5 percent to $70.38 a barrel in New York. Brent crude, used to price international oils, plunged 6.9 percent to $73.40 a barrel in London.

On Friday the U.S. and China put 25 percent taxes on $34 billion in imports. China imported only $130 billion in goods from the U.S. last year, but it could retaliate against the U.S. through other means including regulatory moves and investigations of U.S. companies.

The trade dispute stems from Washington's complaint that Beijing steals or pressures companies to hand over technology and its concerns that plans for state-led development of Chinese companies in robotics and other fields might erode American industrial leadership.

Indexes in Europe and Asia took steeper losses as investors worried the worsening trade dispute will hamper the growth of the global economy. France's CAC 40 and the DAX in Germany both lost 1.5 percent. Britain's FTSE 100 index dropped 1.3 percent.

Japan's benchmark Nikkei 225 fell 1.2 percent and the South Korean Kospi lost 0.6 percent while Hong Kong's Hang Seng shed 1.3 percent.

Airlines took sharp losses after American said it expects slower fare growth in the U.S. American Airlines slumped 8.1 percent to $35.96 and United Continental slid 3.4 percent to $68.88.

Twenty-First Century Fox raised its offer for European pay TV service Sky. Fox already owns 39 percent of Sky and wants to buy the rest, but rival Comcast has stepped in with its own bid. Fox says the new offer values Sky at $32.5 billion.

Fox lost 4 percent to $47.79. In the U.K., Sky stock fell 0.5 percent.

Bond prices moved higher. The yield on the 10-year Treasury note fell to 2.84 percent from 2.87 percent.

The dip in bond yields helped utility companies make small gains. Utility companies tend to pay large dividends, so investors who want income often buy them when bond yields fall.

In other commodities trading, gold lost 0.9 percent to $1,244.40 an ounce. Earlier this month gold hit its lowest price since early 2017. Silver fell 1.7 percent to $15.82 an ounce. Copper skidded 3.4 percent to $2.74 a pound.

Wholesale gasoline fell 4.6 percent to $2.06 a gallon. Heating oil sank 5.4 percent to $2.10 a gallon. Natural gas rose 1.5 percent to $2.83 per 1,000 cubic feet.


----------



## bigdog

https://www.usnews.com/news/business/articles/2018-07-12/asian-markets-rebound-from-trade-fears

*Stocks Rebound; Technology Rally Leads Nasdaq to Record High*
US technology companies lead the market higher as the Nasdaq composite hits an all-time high and stock indexes recover the steep losses they took the day before.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Technology companies soared Thursday as major U.S. stock indexes recovered the ground they lost a day earlier. The Nasdaq composite closed at another all-time high.

Big names like Apple and Microsoft and chipmakers including Intel all made big gains as investors remain optimistic about the technology sector even though much of the market has been shaken by escalating tensions between the U.S. and its trading partners, especially China.

Banks will begin reporting their second-quarter results Friday morning. Investors expect another round of strong profit growth for the whole market, but they're especially optimistic about technology companies. They will announce their earnings later this month.

"Tech has been there for them through all of these ups and downs," said Karyn Cavanaugh, senior markets strategist at Voya Investment Management. "They're a good wingman for investors, and that's why investors are sticking with them."

The S&P 500 index rise 24.27 points, or 0.9 percent, to 2,798.29. The Dow Jones Industrial Average rose 224.44 points, or 0.9 percent, to 24,924.89.

The Nasdaq jumped 107.30 points, or 1.4 percent, to 7,823.92. Its last record came on June 20.

The Russell 2000 index of smaller-company stocks added 6.61 points, or 0.4 percent, to 1,690.28.

Industrial companies also regained much of the ground they lost Wednesday, but energy companies and basic materials makers failed to rally. Defense contractors climbed after President Donald Trump advocated for more defense spending in the U.S. and Europe.

Several European leaders said NATO spending plans haven't changed.

Software maker CA made the biggest gain in the technology sector soared after it accepted an offer from Broadcom worth $18.9 billion, or $44.50 per share. Its stock rocketed 18.7 percent to $44.15. Broadcom investors expressed their disapproval of the deal, which involves Broadcom taking on $18 billion in debt. The stock dropped 13.7 percent to $209.98.

Broadcom's market value fell by $14.4 billion.

The merry-go-round of potential media deals continued as Comcast offered to buy European pay-TV company Sky for $34 billion a day after Twenty-First Century Fox increased its own offer for Sky.

Fox already owns part of Sky, and while it tangles with Comcast, Comcast and Disney are also trying to buy Fox itself. Fox recently accepted Disney's $71 billion offer. The New York Times reported Thursday that Comcast will focus on Sky and end its pursuit of Fox.

Sky's stock rose 3.4 percent in London. In the U.S., Comcast rose 2.3 percent to $34.55 and Fox fell 0.9 percent to $47.38. Disney gained 0.2 percent to $108.25.

CVS Health rose 1 percent to $67.99 and Aetna gained 1.9 percent to $191.09 after Bloomberg News reported that the Department of Justice won't try to stop CVS from buying Aetna. AT&T fell 1.3 percent in aftermarket trading after the Justice Department appealed a court ruling that allowed AT&T to buy Time Warner.

Papa John's International jumped 11 percent to $53.67 as founder John Schnatter resigned as chairman after confirming a report that he had used a racial slur during a conference call in May.

Stifel analyst Christopher Cull said Wall Street has viewed the company as a potential sale target for some time and investors feel that's more likely without Schnatter in charge. Since Schnatter is still is largest shareholder, Cull doesn't think that will happen.

Schnatter owns about 29 percent of the company's stock, and the value of his stake jumped by $50.5 million to Thursday to about $507 million in total.

Stocks around the world slumped Wednesday after the Trump administration released a list of $200 billion in imports from China that it could hit with a 10 percent tax. China said it would retaliate if the tariffs take effect, and the dispute could impair global economic growth.

Stocks overseas took bigger losses than U.S. indexes did and they made smaller recoveries Thursday. In Paris, the French CAC 40 climbed 1 percent. Germany's DAX added 0.6 percent and the Britain FTSE 100 rose 0.8 percent.

Tokyo's Nikkei 225 gained 1.2 percent and Hong Kong's Hang Seng gained 0.7 percent. Seoul's Kospi added 0.2 percent.

Benchmark U.S. crude dipped 0.1 percent to $70.33 a barrel in New York while Brent crude, used to price international oils, rose 1.4 percent to $74.45 per barrel in London.

U.S. crude dropped 5 percent Wednesday and Brent nosedived almost 7 percent as investors worried that the trade conflict will hurt the global economy. They also expect oil supplies to increase after Libya announced that it will start exporting oil again.

Wholesale gasoline added 0.5 percent to $2.07 a gallon. Heating oil rose 1.1 percent to $2.12 a gallon. Natural gas fell 1.1 percent to $2.80 per 1,000 cubic feet.

Bond prices ticked higher. The yield on the 10-year Treasury note fell to 2.85 percent from 2.86 percent.

Gold rose 0.2 percent to $1,246.60 an ounce. Silver gained 1 percent to $15.98 an ounce. Copper rose 1.2 percent to $2.78 a pound after it fell to an 11-month low on Wednesday.

The dollar rose to 112.46 yen after it jumped to 112.04 yen a day ago. The euro edged down to $1.1670 from $1.1674.


----------



## bigdog

https://www.usnews.com/news/busines...-mostly-higher-japans-nikkei-up-on-weaker-yen

*Despite Some Wobbles, Stocks End the Week With More Gains*
U.S. stocks wrap up another solid week with gains for industrial companies, retailers and energy companies.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks wrapped up another solid week Friday as industrial and energy companies ticked higher, but corporate earnings got off to a sluggish start as reports from several major U.S. banks failed to excite investors.

Indexes wobbled in morning trading, but rising oil prices helped energy companies, and defense contractors and machinery makers also rose. Consumer-focused companies like Amazon set record highs.

Wells Fargo skidded after reporting a drop in earnings as fallout continued from its phony accounts scandal. Citigroup also fell after its revenue growth was weak. AT&T skidded after the Justice Department asked a court to overturn the company's purchase of Time Warner.

Investors expect another round of great profit growth this quarter, but they're not sure about what will come next: the U.S. and China are in a trade war without any signs of resolution, midterm Congressional elections are getting closer, and interest rates keep rising. Paul Christopher, head of global market strategy for the Wells Fargo Investment Institute, said investors will focus on corporate forecasts covering the rest of the year.

"We think there will be a lot of attention paid to the outlook," he said. "We still think the economy is really what investors should be watching here, and we think it's going to be solid this year and again good next year."

The S&P 500 index edged up 3.02 points, or 0.1 percent, to 2,801.31. The Dow Jones Industrial Average added 94.52 points, or 0.4 percent, to 25,019.41. The Nasdaq composite set another record, just barely, as it rose 2.06 points to 7,825.98.

The Russell 2000 index of smaller-company stocks fell 3.20 points, or 0.2 percent, to 1,687.08. More stocks fell than rose on the New York Stock Exchange.

Major indexes rose for the second consecutive week following modest losses over the previous two weeks. Investors continued to waver between optimism about the growing U.S. economy, and the strong company earnings that come with it, and worries that the trade war and other commercial disputes could set back global economic growth.

Wells Fargo, the largest U.S. mortgage lender, posted a smaller profit than analysts expected. Its stock gave up 1.2 percent to $55.36. Citi fell 2.2 percent to $67 and JPMorgan Chase dipped 0.5 percent to $106.36.

While bank profits are surging this year, their stocks are not. Much of the profit growth has come from last year's corporate tax cuts rather than a big improvement in the banks' businesses. Investors have also worried about the shrinking gap between short-term interest rates and longer-term ones because banks make a lot of their money by borrowing money at short-term rates and lending it out over the long term.

While investors are taking money out of financials, they are more optimistic about technology companies and retailers, which are expected to post even stronger earnings growth later this summer. On Friday Amazon rose 0.9 percent to $1,813.03 and Microsoft added 1.2 percent to $105.43.

AT&T dropped 1.7 percent to $31.67 after the Justice Department moved to challenge its recent purchase of Time Warner. The $85 billion deal closed last month after a federal judge ruled that it did not violate antitrust law, but the government is asking a higher court to reconsider that ruling.

Benchmark U.S. crude rose 1 percent to $71.01 a barrel in New York while Brent crude, used to price international oils, rose 1.4 percent to $75.33 per barrel in London.

Devon Energy advanced 1.8 percent to $44.72 and Exxon Mobile rose 0.7 percent to $83.31.

Johnson & Johnston lost 1.4 percent to $125.93 after a St. Louis jury awarded almost $4.7 billion in damages to 22 women and their families after they claimed asbestos in Johnson & Johnson talcum powder contributed to their ovarian cancer. The company said it will appeal, as it has in previous cases that found for women who sued the company. This is the first case that focused on asbestos in the talcum powder.

Bond prices moved higher. The yield on the 10-year Treasury note fell to 2.83 percent from 2.85 percent.

Gold lost 0.4 percent to $1,241.20 an ounce. Silver fell 1 percent to $15.82 an ounce. Copper lost 0.1 percent to $2.78 a pound.

While the stronger dollar has sent gold and silver prices lower, the losses for copper have been especially steep. Copper futures have fallen for five straight weeks, down 16 percent over that time, a sign that investors are worried the trade war will impair construction, manufacturing and power generation.

Wholesale gasoline rose 1.7 percent to $2.11 a gallon. Heating oil added 0.5 percent to $2.13 a gallon. Natural gas sank 1.6 percent to $2.75 per 1,000 cubic feet.

The dollar rose to 112.30 yen from 112.46 yen. The euro edged up to $1.1677 from $1.1670.

France's CAC 40 advanced 0.4 percent and Germany's DAX rose 0.4 percent. Britain's FTSE 100 gained 0.1 percent.

Asian markets finished mostly higher led by Japan, where the Nikkei 225 jumped 1.9 percent as the yen weakened against the dollar, which helps exporters. South Korea's Kospi advanced 1.1 percent to and Hong Kong's Hang Seng index added 0.2 percent.

8410


----------



## bigdog

https://www.usnews.com/news/busines...-drift-lower-as-china-data-trade-cast-shadows

*Stocks Fall as Crude Oil Prices Drop 4 Percent; Banks Climb*
US stock indexes dip as oil prices fall and energy companies turn lower, but banks rise with interest rates.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Major U.S. indexes closed mostly lower Monday as investors bought banks but sold most other types of stocks, including health care and technology companies. Energy stocks sank along with oil prices.

Oil prices fell more than 4 percent after U.S. officials suggested the U.S. will take a softer stance on countries that import oil from Iran after sanctions on Iran's energy sector go back into effect in November. Banks rose along with interest rates as well as a solid second-quarter report from Bank of America. A strong forecast gave Deutsche Bank its biggest gain in more than a year.

Amazon jumped in midday trading as investors expected strong sales during the company's annual Prime Day promotion, one of its largest sales days of the year, but the stock gave up much of that gain following problems with the company's website. Most other groups of stocks lost ground, and about two-thirds of the companies on the New York Stock Exchange finished lower.

Stocks finished at five-month highs Friday as investors remained optimistic about the U.S. economy even as they worried about the trade war between the U.S. and China.

"We're coming off of a very strong week last week where the market finally started to focus on the expectation of a very strong earnings season," said Sunitha Thomas, a portfolio advisor for Northern Trust Wealth Management. She said companies are likely to report big increases in profit and revenue, and while investors are looking for hints the trade war is affecting company forecasts and supply chains, there were no signs of that on Monday.

The S&P 500 index lost 2.88 points, or 0.1 percent, to 2,798.43. The Dow Jones Industrial Average rose 44.95 points, or 0.2 percent, to 25,064.36 as Goldman Sachs, JPMorgan Chase, and Boeing climbed. The Nasdaq composite fell 20.26 points, or 0.3 percent, to 7,805.72.

The Russell 2000 index of smaller-company stocks declined 8.54 points, or 0.5 percent, to 1,678.54.

Bank of America's second-quarter profits jumped, as like other big banks, it got a big boost from the corporate tax cut at the end of 2017 and from higher interest rates. Unlike Wells Fargo and Citigroup, which disclosed their results Friday, Bank of America did better than Wall Street expected. Its stock rose 4.3 percent to $29.78.

Deutsche Bank jumped 8 percent to $12.14 after it said its earnings will be considerably higher than analysts expected. Deutsche Bank stock has tumbled as the company has taken three years of losses based on high costs and big fines and penalties linked to past misconduct.

Benchmark U.S. crude fell 4.2 percent to $68.06 in New York. Brent crude, used to price international oils, fell 4.6 percent to $71.84 a barrel in London.

U.S. officials said countries and businesses that import oil from Iran could avoid penalties if they reduce those imports significantly. Recently the U.S. government was pressuring countries to stop buying Iranian oil entirely. The U.S. will reinstitute sanctions on Iran's energy sector in early November as a result of the American withdrawal from the Iran nuclear deal.

Tribune Media and Sinclair Broadcast Group both nosedived after the Federal Communications Commission said it has concerns about Sinclair's plan to buy Tribune. Right-leaning TV station operator Sinclair is the largest operator of local TV stations in the U.S., and it has proposed selling some of its own TV stations as part of the $3.9 billion deal.

Tribune Media plunged 16.7 percent to $32.12 and Sinclair skidded 11.7 percent to $29.10.

Online retail giant Amazon jumped as much as 1.6 percent at the start of its Prime Day promotion, but finished with a gain of 0.5 percent at $1,822.49. Still, Amazon is up 56 percent in 2018 and is responsible for about 19 percent of the total return of the S&P 500 over that time, according to S&P Dow Jones Indices.

Netflix plunged 13.2 percent in aftermarket trading after it said it didn't gain as many subscribers as it expected in the second quarter. Its estimate for third-quarter subscriber growth also fell short of analysts' projections. The streaming video company's shares have doubled this year, but if the late move is any indication the stock could be on track for its biggest loss in two years on Tuesday.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.85 percent from 2.83 percent. High-dividend companies like real estate investment trusts fell as investors who wanted income bought bonds instead.

Arconic, a company that makes aluminum parts for companies in the aerospace and automobile industries, soared after the Wall Street Journal reported that private equity firms are interested in buying it. The stock climbed 10.5 percent to $19.20. It has fallen almost 40 percent since mid-January.

Gold fell 0.1 percent to $1,239.70 an ounce. Silver was unchanged at $15.81 an ounce. Copper lost 0.4 percent to $2.76 a pound.

Wholesale gasoline skidded 5 percent to $2 a gallon. Heating oil dropped 3.7 percent to $2.05 a gallon. Natural gas added 0.3 percent to $2.76 per 1,000 cubic feet.

The dollar stayed at 112.30 yen. The euro climbed to $1.1714 from $1.1677.

Germany's DAX rose 0.2 percent while the CAC 40 in France dipped 0.4 percent. The FTSE 100 index in Britain dropped 0.8 percent. Hong Kong's Hang Seng edged 0.1 percent higher and the Kospi in South Korea fell 0.4 percent.


----------



## bigdog

https://apnews.com/3887ed38cd944f9e...nd-as-tech-and-household-goods-companies-rise

*US stocks rebound as tech and household goods companies rise*

NEW YORK (AP) — U.S. stocks rallied Tuesday as retailers, technology and household goods companies all made solid gains and helped the market shake off a weak start. Netflix slumped after investors were disappointed with the streaming video company’s subscriber growth.

Stocks skidded at the start of trading as investors sold some of their recent favorites including Facebook and Apple. But those stocks later recovered and Netflix narrowed its losses. Technology companies also turned higher and strong results from Johnson & Johnson pulled health care stocks upward.

Federal Reserve Chairman Jerome Powell delivered a positive view of the economy as he told Congress that he expects the Fed to keep gradually raising interest rates. Powell said the Fed believes the economy will stay strong and inflation will remain at around 2 percent for the next few years. Stocks have fallen previous times that Powell gave major addresses, but they didn’t do so on Tuesday.

Investors focused on company earnings, which aside from Netflix were mostly good. Financial services company Charles Schwab and regional bank Comerica both rose.

“Double-digit earnings growth for this quarter and this full calendar year remains on track, and a 10 percent gain in earnings next year is also still doable,” said Sam Stovall, chief investment strategist for CFRA.

While investors have been buying U.S. stocks and selling foreign indexes this year, Stovall said earnings growth for companies in overseas markets will probably improve in 2019 while U.S. profit growth slows down. That could make non-U.S. markets more appealing.

The S&P 500 index rose 11.12 points, or 0.4 percent, to 2,809.55 after it dropped 9 points at the start of trading. The Dow Jones Industrial Average gained 55.53 points, or 0.2 percent, to 25,119.89. The Nasdaq composite jumped 49.40 points, or 0.6 percent, to 7,855.12 and surpassed the record high it set last week. The Russell 2000 index of smaller-company stocks rose 8.72 points, or 0.5 percent, to 1,687.26.

Companies that sell clothing, food and household goods made solid gains. Ralph Lauren advanced 2.6 percent to $133.30 and PepsiCo climbed 1.7 percent to $114.88. Amazon as it said sales in the first hours of its annual Prime Day promotion improved compared to last year in spite of website problems. The company said it’s resolving those issues. The stock rose 1.2 percent to $1,843.93.

Netflix’s weak subscriber totals sent the stock down 5.2 percent to $379.48. The company has regularly beaten its own subscriber forecasts but failed to do so in the second quarter and its third-quarter estimate was lower than analysts expected. Things looked far worse for Netflix in early trading as the stock plunged 14.1 percent before recovering most of that drop. Even with Tuesday’s loss, the stock is up 98 percent this year.

Johnson & Johnson’s second-quarter profit grew thanks to better results from its prescription drug business, and it posted higher sales than analysts expected. The stock gained 3.5 percent to $129.11.

Financial services company Charles Schwab climbed 3.6 percent to $52.88 after it surpassed Wall Street forecasts in the latest quarter.

UnitedHealth, the largest U.S. health insurance company, once again beat expectations in the latest quarter and raised its annual profit forecast. But the company’s spending on medical costs was higher than analysts expected, and the stock lost 2.6 percent to $250.29. Investors worried that other health insurers would have similar problems, and competitors Anthem and Humana also slipped.

Advertising companies sank after Omnicom said its business in North America decreased in the second quarter and its U.K. business also shrank. The advertising conglomerate lost 9.5 percent to $70.69 and Interpublic Group shed 6.1 percent to $22.26.

The European Union and Japan signed a broad trade deal Tuesday that will eliminate nearly all tariffs across a third of the global economy. Japanese consumers will pay lower prices for European wine and pork, while Japanese machinery parts, tea and fish will get cheaper for Europe. The deal has been in the works for years and contrasts with the more protectionist approach of U.S. President Donald Trump.

Bond prices were little changed. The yield on the 10-year Treasury note remained at 2.86 percent.

Benchmark U.S. crude erased an early loss and finished little changed at $68.08 a barrel in New York. Brent crude, used to price international oils, picked up 0.4 percent to $72.16 a barrel in London.

Wholesale gasoline gained 1.2 percent to $2.03 a gallon. Heating oil added 0.8 percent to $2.07 a gallon. Natural gas fell 0.7 percent to $2.74 per 1,000 cubic feet.

Metals prices continued to fall. Gold dripped 1 percent to $1,227.30 an ounce. Silver sank 1.2 percent to $15.62 an ounce. Copper fell 0.6 percent to $2.75 a pound. All three are near their lowest prices in a year.

The dollar rose to 112.83 yen from 112.30 yen. The euro fell to $1.1664 from $1.1714.

Germany’s DAX jumped 0.8 percent and the CAC 40 in France added 0.2 percent. The British FTSE 100 index rose 0.3 percent.

Japan’s benchmark Nikkei 225 gained 0.4 percent after reopening from a public holiday. South Korea’s Kospi lost 0.2 percent and Hong Kong’s Hang Seng shed 1.3 percent.


----------



## bigdog

https://www.usnews.com/news/busines...s-ease-after-rallying-on-solid-us-performance

*US Stocks Edge Higher as Airlines, Railroads and Banks Jump*
US stocks finish with modest gains as transportation companies including railroads and airlines rose following strong earnings reports and so do banks.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Big gains for banks and transportation companies like airlines and railroads took U.S. stock indexes slightly higher Wednesday. Other parts of the market didn't move much.

United Continental had its best day in two years after it said strong demand is resulting in higher ticket prices, while railroad company CSX said it's still cutting costs and improving operations. Their competitors also jumped.

Banks and other financial companies got a boost from strong second-quarter results, and Warren Buffett's Berkshire Hathaway made its biggest gain in almost seven years after it loosened its rules on stock buybacks.

Brad McMillan, chief investment officer for Commonwealth Financial Network, said the combination of strong consumer spending, rising business investment and good economic data is likely to lead to another quarter of strong earnings growth.

"Everything is going right at the moment," he said. "This quarter's earnings are going to reflect that."

The S&P 500 index rose 6.07 points, or 0.2 percent, to 2,815.62. The Dow Jones Industrial Average added 79.40 points, or 0.3 percent, to 25,199.29. The Nasdaq composite fell 0.67 points to 7,854.44. The Russell 2000 index of smaller-company stocks gained 4.61 points, or 0.3 percent, to 1,691.87.

Stocks have been rising this month, even as trade tensions with China continue to mount, as investors anticipate solid second-quarter earnings reports from U.S. companies. The S&P 500 is up 3.6 percent so far in July.

United Continental surpassed Wall Street projections and said strong demand is resulting in higher prices as the summer travel season sets in. Its stock surged 8.8 percent to $79.

CSX said its profit climbed 72 percent in its latest quarter as it kept cutting costs and improving its operations. The results were stronger than analysts expected and the stock added 7.1 percent to $69.

Maintenance supply company W.W. Grainger made the biggest gain on the S&P 500 after it blew past analysts' estimates in the latest quarter. The company posted strong growth in the U.S. with more business with both large and medium size customers and it raised its forecasts for the year. The stock jumped 11.2 percent to $338.99.

Berkshire Hathaway, the conglomerate that owns GEICO and other insurance companies, jumped as investors hoped it would give some of that money back to shareholders by buying back its own stock. The company had $108 billion in cash and short-term investments as of March.

Berkshire's Class B shares jumped 5.3 percent to $200.44 in heavy trading. Other financial companies including Morgan Stanley, M&T Bank and Northern Trust climbed after their quarterly reports.

Federal Reserve Chairman Jerome Powell wrapped up his testimony to Congress about economic and monetary policy. He said the trade war with China might make inflation speed up, but continued to express a very positive view of the state of the economy overall.

McMillan, of Commonwealth, said that Powell's comments were so upbeat that he wonders if the Fed is really reckoning with the risks posed by tariffs and higher interest rates.

"I've never seen a central bank look quite that confident, and frankly it makes me nervous," he said.

While investors are focusing more on company earnings than trade policy at the moment, U.S. uranium mining companies rose after the Commerce Department started an investigation into the impact of uranium imports on U.S. national security. That could result in tariffs, similar to the investigation into steel and aluminum imports that resulted in big taxes on steel from the European Union, Canada, Mexico and Japan.

Energy Fuels, one of the companies that requested the investigation, rose 3.9 percent to $1.60. Uranium Energy added 1.3 percent to $2.34.

The European Union fined Google a record $5 billion Wednesday for using the market dominance of its Android mobile operating system to force handset makers to install Google apps, reducing choice for consumers. The company said it plans to appeal the ruling. A year ago, EU regulators fined Google $2.8 billion for favoring its shopping listings in search results.

Shares of Alphabet, Google's parent company, took a small loss and closed at $1,212.91.

Bond prices slipped. The yield on the 10-year Treasury note rose to 2.88 percent from 2.86 percent. That sent big-dividend stocks like household goods companies and utilities lower.

Benchmark U.S. crude recovered from an early loss and rose 1 percent to $68.76 a barrel in New York. Brent crude, used to price international oils, added 1 percent to settle at $72.90 a barrel in London. U.S. crude has tumbled 8 percent in July but is still up 42 percent over the last 12 months.

Wholesale gasoline climbed 0.9 percent to $2.04 a gallon. Heating oil gained 1 percent to $2.09 a gallon. Natural gas fell 0.7 percent to $2.72 per 1,000 cubic feet.

Gold was little changed and closed at $1,227.90 an ounce. Silver fell 0.3 percent to $15.57 an ounce. Copper rose 0.5 percent to $2.76 a pound.

The dollar inched up to 112.83 yen from 112.83 yen. The euro fell to $1.1646 from $1.1664.

Germany's DAX added 0.8 percent and the British FTSE 100 rose 0.7 percent. The CAC 40 in France gained 0.5 percent.

Japan's benchmark Nikkei 225 gained 0.4 percent and the Kospi in South Korea lost 0.3 percent as the country's government downgraded its forecasts for job creation and growth. Hong Kong's Hang Seng shed 0.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines...drift-as-investors-await-fresh-moves-on-trade

*Banks Weaken, but Small-Company Stocks Hold up Well*
Trade issues again affected the stock market Thursday as larger companies declined and smaller, more domestically-focused companies rose.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Trade issues again weighed on the market Thursday as representatives of the auto industry told Congress they opposed tariffs on imported cars and car parts being proposed by the Trump administration. Banks and other large U.S. stocks fell, but smaller and more domestically-focused companies climbed.

Aluminum producers sank after Alcoa said the U.S. tariffs on imported aluminum are costing it $12 million to $14 million a month. The tariffs took effect June 1, and Alcoa is one of the first companies to say how much its business is being hurt by the taxes.

The U.S. imported $335 billion in autos and parts in 2017, so tariffs on those items could dwarf the taxes the administration has placed on imported steel, aluminum, and goods from China, although Trump has also threatened to put tariffs on a much larger portion of Chinese imports.

General Motors and Daimler have both warned that tariffs could have major effects on their businesses. Lindsey Bell, investment strategist with CFRA, said most consumers haven't noticed the effects of the tariffs yet, but that will change if cars are taxed.

"It will significantly increase the price of a car and the consumer will definitely pull back" on spending, she said, adding that foreign automakers with factories in the U.S. might move those jobs overseas.

"There's a lot of jobs that could be lost if these tariffs go through," she said.

Companies that make and distribute drugs fell after the Trump administration proposed changes to government rules on drug price rebates.

Major banks fell as interest rates decreased. Weak second-quarter results also weighed on American Express and Bank of New York Mellon. President Donald Trump told CNBC he is "not happy" the Federal Reserve has been raising interest rates, which had little effect on the stock market but did send bond yields and the dollar slightly lower.

The S&P 500 index slid 11.13 points, or 0.4 percent, to 2,804.49. The Dow Jones Industrial Average fell 134.79 points, or 0.5 percent, to 25,064.50. The Nasdaq composite gave up 29.15 points, or 0.4 percent, to 7,825.30.

The Russell 2000 index of smaller-company stocks rose 9.44 points, or 0.6 percent, to 1,701.31. Smaller companies tend to do better than larger ones when trade tensions flare up because they do a greater proportion of their sales in the U.S.

General Motors said last month that tariffs on imported cars might cause it to cut jobs in the U.S. Its stock slid 1.4 percent to $39.31 and Tesla dipped 1.1 percent to $320.23. Auto parts retailer BorgWarner lost 2.1 percent to $45.03.

Second-quarter results and forecasts from U.S. companies continued to dominate trading. American Express fell 2.7 percent to $100.17 after it set aside more money to cover potential bad loans. Bank of New York Mellon lost 5.2 percent to $52.73.

EBay slumped 10.1 percent to $34.53 after it reported lower sales than analysts had forecast.

The president's criticism of the Federal Reserve was unusual, and investors wondered if it could slow the pace of interest rate increases even though the Fed is independent and Trump said he didn't plan to get involved in its decision-making. For the day, the dollar fell to 112.46 yen from 112.84 yen. The euro fell to $1.1644 from $1.1646.

Bond yields were already falling before Trump's comments and they fell a bit more afterward. The yield on the 10-year Treasury note fell to 2.83 percent from 2.87 percent.

Real estate investment trusts and utilities, which pay big dividends, did far better than the rest of the market. Many investors consider those stocks alternatives to bonds, so they tend to do well when bond yields fall.

Cable and internet provider Comcast said it won't make another bid for Twenty-First Century Fox's entertainment business and will instead focus on trying to buy European pay-TV operator Sky. Fox shareholders are scheduled to vote on Disney's $71 billion offer next week.

Comcast gained 2.6 percent to $34.91 while Fox fell 0.1 percent to $46.65. Disney gained 1.3 percent to $112.13, and in London, shares of Sky fell 1.5 percent.

Aluminum producer Alcoa sank 13.3 percent to $41.56 after it forecast a smaller pre-tax profit. It said the tax on imported aluminum is costing it millions every month as it brings in aluminum it has smelted in Canada. Century Aluminum skidded 12.1 percent to $13.09.

Companies that make and distribute drugs fell after the Trump administration proposed changes to government rules on drug price rebates. AbbVie fell 4.7 percent to $89.95 and drugstore and pharmacy benefits manager CVS Health shed 2.6 percent to $66.14.

Benchmark U.S. crude rose 1 percent to $69.46 per barrel in New York. Brent crude, used to price international oils, fell 0.4 percent to $72.58 per barrel in London.

Wholesale gasoline stayed put at $2.04 a gallon and heating oil was unchanged at $2.09 a gallon. Natural gas added 1.8 percent to $2.77 per 1,000 cubic feet.

Gold fell 0.3 percent to $1,224 an ounce and silver fell 1.1 percent to $15.40 an ounce. Copper dropped 2.3 percent to $2.70 a pound.

Germany's DAX fell 0.6 percent, as did France's CAC 40. Britain's FTSE 100 added 0.1 percent.

Asian markets finished mostly lower with Japan's Nikkei 225 losing 0.1 percent and South Korea's Kospi shed 0.3 percent. Hong Kong's Hang Seng fell 0.4 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ocks-rise-amid-fears-of-more-china-us-tariffs

*Stocks End Slightly Lower as Traders Shrug off Trade Talk*
US stocks finish slightly lower as a jump in bond yields helps banks but hurts big-dividend stocks.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks inched lower Friday as bond yields jumped, a shift that helped banks but hurt companies that pay big dividends. The dollar fell after President Donald Trump said China is manipulating its currency.

Companies including Microsoft and Honeywell rose as investors were pleased with their quarterly reports, but General Electric stumbled. Stocks wobbled all week as investors reacted to solid company results as well as heightened trade tensions. The S&P 500 index was virtually flat for the week while the Russell 2000 index, which is made up of smaller companies that do more business inside the U.S., rose 0.6 percent.

In the last two days Trump criticized the Federal Reserve for raising interest rates and said China, said he's willing to put tariffs on all U.S. imports from China, and said China, the European Union and others are harming the U.S. by weakening their currencies and reducing interest rates. Stocks weren't affected, but the dollar declined and short-term bond yields slipped, suggesting investors wondered if the Fed might raise interest rates more slowly.

"If there's a toss-up between raising and not raising (rates), you wonder what role these types of comments might possibly play," said Sameer Samana, a strategist for the Wells Fargo Investment Institute.

Samana said he doesn't think the Fed will make big changes to its policies based on Trump's comments, even if the president starts advocating more forcefully for lower rates. But it's something investors will have to think about.

"We think the Fed has independence and they'll continue to do the right thing," he said. "This is one more item that just creates noise in markets."

The S&P 500 index dipped 2.66 points, or 0.1 percent, to 2,801.83. The Dow Jones Industrial Average lost 6.38 points to 25,058.12. The Nasdaq composite gave up 5.10 points, or 0.1 percent, to 7,820.20. The Russell 2000 index of smaller-company stocks fell 4.50 points, or 0.3 percent, to 1,696.81.

Short-term bond yields inched higher. The yield on the 2-year Treasury note rose to 2.60 percent from 2.59 percent.

Long-term bond prices dropped. The yield on the 10-year Treasury note rose to 2.90 percent from 2.85 percent. That helped banks because bond yields are used to set interest rates on many kinds of loans including mortgages. JPMorgan Chase gained 1.3 percent to $111.28 and Bank of America picked up 1.6 percent to $30.13.

The dollar dropped sharply, to 111.52 yen from 112.46 yen. The euro rose to $1.1726 from $1.1644.

Microsoft continued to set records after its fiscal fourth-quarter results topped Wall Street forecasts and its cloud computing division continued to grow. The company said it's being helped by its rivalry with Amazon, because some retailers are reluctant to team up with Amazon on cloud computing services while they compete with Amazon in sales. The stock climbed 1.8 percent to $106.27.

General Electric lost 4.4 percent to $13.12 after it said its power business continued to struggle as revenue and orders decreased. GE, which has been selling and splitting off businesses, also cut its forecast for how much cash its businesses will generate.

In a taped interview with CNBC, Trump said "I'm willing to go to 500," referring roughly to the $505.5 billion in goods the U.S. imported last year from China. Earlier this month the U.S. placed import taxes on $34 billion in goods imported from China and Beijing responded in kind. The Trump administration is considering tariffs on another $200 billion in goods.

The dispute between the world's two largest economies stems from accusations that China steals technology from U.S. companies or forces them to hand over technology to Chinese companies as well as differences over the U.S. trade deficit with China. Investors have worried that the trade war and other disputes involving the U.S. could slow down the global economy.

The People's Bank of China weakened the country's currency against the dollar on Friday. If the yuan continues to depreciate, goods exported to China will become more expensive to consumers there and Chinese exports would also be relatively cheaper. That could balance out suggested increases in tariffs by the Trump Administration.

The yuan has been skidding since February, mostly because of slower economic growth in China and rising interest rates in the U.S.

Benchmark U.S. crude added 1.4 percent to $70.46 a barrel in New York and Brent crude, used to price international oils, gained 0.7 percent to $73.07 a barrel in London.

Wholesale gasoline rose 1.2 percent to $2.07 a gallon. Heating oil edged up 0.7 percent to $2.10 a gallon. Natural gas lost 0.4 percent to $2.76 per 1,000 cubic feet.

Gold rose 0.6 percent to $1,231.10 an ounce. Silver gained 1 percent to $15.55 an ounce. Copper jumped 2.2 percent to $2.76 a pound.

Germany's DAX lost 1 percent and France's CAC 40 slid 0.3 percent. Britain's FTSE 100 gave up 0.1 percent. South Korea's Kospi added 0.3 percent and Hong Kong's Hang Seng gained 0.8 percent. Japan's Nikkei 225 fell 0.3 percent.

8667


----------



## bigdog

https://www.usnews.com/news/busines...ocks-fall-as-trade-tensions-take-center-stage

*US Stock Indexes End Unevenly After Day of Listless Trading*

By ALEX VEIGA, AP Business Writer

U.S. stock indexes capped a day of listless trading with a mixed finish Monday, as gains by banks and technology companies were offset by losses in other sectors.

Bond yields rose, pointing to a pickup in interest rates on consumer loans, which helped drive bank shares higher. Technology stocks also posted solid gains, adding to the sector's market-leading showing this year. Alphabet, Google's parent company, surged in aftermarket trading after it reported its latest quarterly results.

Those gains were overshadowed by losses in industrial stocks, consumer goods companies and energy, among other sectors. More stocks fell than rose on the New York Stock Exchange.

Stocks mostly drifted in a narrow range for much of the day as investors sized up the latest batch of corporate quarterly results at the start of the busiest week in the reporting season.

"Earnings are coming in better than expected, but you're not getting much of a reaction from the marketplace," said Tom Martin, senior portfolio manager of Globalt Investments. "People are biding their time."

The S&P 500 index rose 5.15 points, or 0.2 percent, to 2,806.98. The Dow Jones Industrial Average fell 13.83 points, or 0.1 percent, to 25,044.29. The Nasdaq gained 21.67 points, or 0.3 percent, to 7,841.87. The Russell 2000 index of smaller-company stocks picked up 1.61 points, or 0.1 percent, to 1,698.41.

The indexes are on pace to finish the month with gains. The S&P 500, the market's benchmark index, is on a three-week winning streak.

Bond prices fell. The yield on the 10-year Treasury rose to 2.96 percent from 2.89 percent late Friday. The increase in bond yields helped lift bank shares. Interest rates on mortgages and other consumer loans tend to move in tandem with bond yields. Rising rates translate into bigger profits for banks. Wells Fargo added 2.8 percent to $58.

A third of the companies in the S&P 500 are set to report second-quarter earnings this week. So far, corporate earnings have been generally better than expected, reinforcing the underlying perception in financial markets that the U.S. economy is performing strongly and that the Federal Reserve will raise interest rates next month.

"The thing that's been actually driving the earnings beats right now is just the fundamental performance of the companies," said Jason Pride, chief investment officer Glenmede's Private Wealth business. "It's a good business environment."

Out of the roughly 20 percent of companies in the S&P 500 that have reported quarterly results so far, 83 percent have turned in earnings that beat Wall Street's expectations, Pride said, noting that company earnings growth so far is running 21 percent higher than in the same quarter last year.

Even so, investors have been expecting companies to outdo analysts' expectations, which is one reason not all stocks are seeing a big bump from positive earnings growth.

"Companies that are coming in a penny or two ahead of expectations, they're basically not getting much of a reward in their stock," said Pride. "That indicates the market is expecting these sorts of beats against earnings."

Among the companies due to report results later this week: Boeing, Facebook, Amazon.com and McDonald's.

Investors bid up shares in Hasbro Monday after the toy maker's latest quarterly earnings topped Wall Street's forecasts. The company was the biggest gainer in the S&P 500, vaulting 12.9 percent to $106.04. Rival Mattel also got a boost, climbing 3.9 percent to $16.59.

Traders hammered Illinois Tool Works after the manufacturer of industrial products and equipment forecast earnings that were well below what analysts were expecting. The company led a sell-off in industrial sector stocks, tumbling 7.2 percent to $136.26.

Fiat Chrysler Automobiles slid 1.8 percent to $18.98 on news that CEO Sergio Marchionne has been replaced unexpectedly due to complications from shoulder surgery last month. The FCA board on Saturday named long-time Jeep executive Mike Manley as CEO, accelerating a transition that was planned for early next year. Boards also named replacements for Marchionne as Ferrari CEO and CNH Industrial chairman. Ferrari fell 2.5 percent to $136.49, while CNH Industrial gave up 1.6 percent to $10.11.

Tesla skidded 3.3 percent to $303.20 after The Wall Street Journal reported that the electric car maker has asked some of its suppliers to refund a portion of what the company has already spent to help it become profitable. The plea raised questions about Tesla's cash position, which has dwindled following some production issues.

Papa John's sank 9.7 percent to $46.56 after the pizza delivery company adopted a shareholder rights plan to keep founder and ousted chairman John Schnatter from buying a majority stake. The company is struggling to distance itself from Schnatter, who resigned this month after his use of a racial slur during a media training session was revealed. Schnatter has since said his resignation was a "mistake" and criticized the company's handling of the incident.

Oil prices fell, erasing gains from earlier in the day. Benchmark U.S. crude dropped 37 cents to settle at $67.89 per barrel in New York. Brent crude, used to price international oils, slipped a penny to close at $73.06.

Halliburton was the biggest decliner in the S&P 500, sliding 8.1 percent to $41.54 after management said that some customers are pulling back on production because of bottlenecks in getting the oil and gas they're producing to market.

The dollar fell to 111.48 yen from 111.52 yen on Friday. The euro weakened to $1.1689 from $1.1726.

Gold declined $5.50 to $1,225.60 an ounce. Silver lost 12 cents to $15.43 an ounce. Copper dipped a penny to $2.75 a pound.

In other energy futures trading, heating oil rose 1 cent to $2.12 a gallon. Wholesale gasoline added 2 cents to $2.09 a gallon. Natural gas fell 4 cents, or 2.8 percent, to $2.72 per 1,000 cubic feet.

Europe, Germany's DAX fell 0.1 percent while the CAC 40 in France slid 0.4 percent. The FTSE 100 index of leading British shares declined 0.3 percent.

Japan's Nikkei 225 tumbled 1.3 percent and South Korea's Kospi dropped 0.9 percent. Hong Kong's Hang Seng added 0.1 percent to 28,256.12.


----------



## bigdog

https://www.usnews.com/news/busines...dvance-backed-by-strong-us-corporate-earnings

*US Stock Indexes End Mostly Higher on Solid Earnings Reports*

By ALEX VEIGA, AP Business Writer

The major U.S. stock indexes finished mostly higher Tuesday as investors welcomed strong corporate earnings reports from Google parent Alphabet and other companies.

Gains by technology companies and health care stocks outweighed losses in consumer goods manufacturers, retailers and other sectors.

Smaller-company stocks, which have been beating the rest of the market this year, turned sharply lower as investors weighed the implications of the Trump administration's decision to send billions in emergency aid to farmers hurting from tariffs stemming from the U.S. trade dispute with China.

Tariffs also weighed on Whirlpool's latest quarterly results, giving the appliance maker its worst day in more than 30 years.

"Investors are focused on the good news on earnings and the economy, but they're still a bit cautious when it comes to the market moving higher, and that's because of all the news flow on geopolitical events and tariffs," said Jeff Kravetz, regional investment strategist at U.S. Bank Private Wealth Management.

The S&P 500 index rose 13.42 points, or 0.5 percent, to 2,820.40. The Dow Jones Industrial Average gained 197.65 points, or 0.8 percent, to 25,241.94. The Nasdaq composite lost 1.11 points to 7,840.77. The Russell 2000 index of smaller-company stocks had its worst day in a month, sliding 18.22 points, or 1.1 percent, to 1,680.20.

More stocks fell than rose on the New York Stock Exchange. The S&P 500, the market's benchmark index, is on a three-week winning streak.

Alphabet gained 3.9 percent to $1,258.15 after the company reported second-quarter earnings late Monday that topped Wall Street's expectations, even as it booked a $5.1 billion charge to cover a fine levied by European regulators.

Harley-Davidson vaulted 7.7 percent to $44.63 after the motorcycle manufacturer's latest quarterly earnings came in well ahead of what analysts were expecting. The company also said it's planning strategic changes as tariffs affect its business.

Health care sector stocks got a lift from a couple of companies that reported strong quarterly results.

Biogen added 4.1 percent to $372.84. The drugmaker also raised its forecast for the year. Shares in Eli Lilly & Co., which in addition to reporting solid earnings said it will spin off its animal health business, gained 5 percent to $93.35.

This is the busiest week for the second-quarter earnings season, with roughly a third of companies in the S&P 500 scheduled to report, including Amazon, Facebook, Boeing and Ford. Of the 17.4 percent of the companies in the S&P 500 that had issued quarterly results as of Monday, some 71 percent reported earnings and revenue that beat analysts' forecasts, according to S&P Global Market Intelligence. That's reinforced the underlying perception in the financial markets that the U.S. economy is performing strongly and that the Federal Reserve will raise interest rates again next month.

Even so, traders remain wary of global trade tensions, which have ratcheted up in recent weeks as the Trump administration has sought to renegotiate trade pacts with China, Canada and European nations, resorting to imposing tariffs on imports of aluminum, steel and other goods. The strategy has prompted U.S. trading partners to retaliate, creating risks for the economy.

On Tuesday, the Trump administration announced a $12 billion plan to assist farmers who have been hurt by President Donald Trump's trade disputes with China and other trading partners. The plan, which focuses on Midwest soybean producers and others targeted by retaliatory measures, would include direct assistance for farmers, purchases of excess crops and trade promotion activities aimed at building new export markets.

The move sent shares in several agriculture sector companies higher. Farming equipment manufacturer Deere & Co. rose 3.2 percent to $139.84. Fertilizer maker Mosaic added 2.3 percent to $29.02.

The aid plan also prompted the sell-off in small-company stocks, which tend to be more domestically focused and had climbed in recent months as the dollar got stronger and investors worried about trade. Those conditions changed after the White House proposed its aid package, said Quincy Krosby, chief market strategist at Prudential Financial.

"Seeing the government offer aid to the farmers perhaps has given the market a bit of a belief that if any other sector or subsector that gets hurt temporarily by these ongoing trade issues, perhaps they too will receive aid," she said.

Whirlpool isn't expecting much relief from the impact of U.S. tariffs on steel and aluminum imports.

In a filing, the company blamed higher raw materials costs on the tariffs, and said it expects more of the same in the second half of 2018. That could require Whirlpool to modify its business practices and could have "a material adverse effect on our financial statements in any particular reporting period," the company said.

Investors hammered Whirlpool's shares Tuesday. The stock tumbled 14.5 percent to $128.82.

Bond prices rose. The yield on the 10-year Treasury fell to 2.95 percent from 2.96 percent.

Benchmark U.S. crude climbed 63 cents, or 0.9 percent, to settle at $68.52 per barrel in New York. Brent crude, used to price international oils, gained 38 cents to $73.44 per barrel in London.

The pickup in oil prices helped lift energy sector stocks. Pioneer Natural Resources added 3.2 percent to $187.08.

The dollar fell to 111.22 yen from 111.48 yen on Monday. The euro weakened to $1.1683 from $1.1689.

Gold slipped 10 cents to $1,225.50 an ounce. Silver added 10 cents to $15.52 an ounce. Copper gained 6 cents to $2.81 a pound.

In other energy futures trading, heating oil rose 1 cent to $2.13 a gallon. Wholesale gasoline was little changed at $2.09 a gallon. Natural gas added a penny to $2.73 per 1,000 cubic feet.

Markets in Europe finished solidly higher despite a survey that indicated economic growth across the 19-country eurozone moderated at the start of the third quarter. Germany's DAX rose 1.1 percent and the CAC 40 in France added 1 percent. The FTSE 100 index of leading British shares gained 0.7 percent.

Major indexes in Asia also finished higher. Japan's Nikkei 225 gained 0.5 percent, while South Korea's Kospi added 0.5 percent. Hong Kong's Hang Seng jumped 1.4 percent. Australia's S&P-ASX 200 rose 0.6 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ising-after-corporate-gains-boost-wall-street

*Tech Companies Lead US Stock Rally Amid Trade Progress Signs*
A strong performance by technology stocks and signs of progress in the trade dispute between the U.S. and the European Union powered the market to its third consecutive gain Wednesday.

By ALEX VEIGA, AP Business Writer

A strong performance by technology stocks and signs of progress in the trade dispute between the U.S. and the European Union powered the market to its third consecutive gain Wednesday. The Nasdaq composite closed at an all-time high.

The major stock indexes jumped in the last half-hour of trading amid reports that a meeting between President Donald Trump and an EU delegation had yielded an agreement to work on averting a budding dispute between the two trading partners.

Health care and industrial stocks also posted solid gains. Phone companies and other high-dividend, safe-play stocks lagged the broader market. Homebuilders slumped on government data showing sales of new U.S. homes fell in June.

Prior to the developments out of Washington, stocks had held on to modest gains for most of the day as investors drew encouragement from the latest batch of quarterly earnings results.

"Tariffs haven't had an enormous impact on earnings, particularly in the manufacturing sector," said Jeramey Lynch, global investment specialist at J.P. Morgan Private Bank. "We haven't seen that so far. Earnings have still been strong because the potential impacts so far of tariffs are being more than offset by what we see as a very favorable macroeconomic backdrop."

The S&P 500 index notched its best day in more than a month, climbing 25.67 points, or 0.9 percent, to 2,846.07. The Dow Jones Industrial Average surged 172.16 points, or 0.7 percent, to 25,414.10. The Nasdaq added 91.47 points, or 1.2 percent, to 7,932.24. The Russell 2000 index of smaller-company stocks followed up its worst day in a month with a gain of 5.01 points, or 0.3 percent, to 1,685.20.

The S&P 500, the market's benchmark index, is on track for its fourth weekly gain in a row.

Investors have been focused this week on company earnings, which have mostly topped Wall Street's expectations. At the same time, traders are still wary of global trade tensions, which have ratcheted up in recent weeks as the U.S. and some of its trading partners have imposed tariffs on certain products and threatened more.

That's why news that the U.S. and the EU are working to mend their frayed trade relationship injected a wave of hopeful buying into the market.

Trump, speaking from the Rose Garden with European Commission President Jean-Claude Juncker, said late Wednesday afternoon that the EU had agreed to buy "a lot of soybeans" and increase its imports of liquefied natural gas from the U.S. Juncker, meanwhile, said the U.S. and EU had agreed to hold off on further tariffs as part of trade talks aimed at averting a crippling trade dispute involving the lucrative automobile market.

"We remind investors only that the devil remains in the details," Terry Haines, macro research analyst at Evercore ISI, wrote in a research note.

The latest wave of corporate report cards also had traders in a buying mood Wednesday, with the technology sector accounting for most of the market's gains. Corning vaulted 11.3 percent to $33.21.

HCA Healthcare jumped 9.2 percent to $118.13 after the hospital operator turned in quarterly results that were better than analysts were expecting.

Coca-Cola rose 1.8 percent to $46.09 after the company served up quarterly earnings and revenue that topped analysts' forecasts. The company noted that its diet sodas are selling better after undergoing some image changes.

Not all companies reported favorable results.

General Motors slumped 4.6 percent to $37.65 after the automaker cut its outlook for the year, mostly due to tariffs on imported steel and aluminum. The diminished expectations overshadowed GM's strong second-quarter results.

Boeing reported quarterly results that exceeded Wall Street's expectations, but also cut its revenue projections for its defense business. Shares in the aerospace giant fell 0.7 percent to $355.92.

Tupperware plunged 16.4 percent to $34.09 after the container maker reported weaker-than-expected sales and lowered its annual forecasts.

Of the roughly 23.6 percent of the companies in the S&P 500 that had issued quarterly results as of early Wednesday, some 71 percent reported earnings and revenue that beat analysts' forecasts, according to S&P Global Market Intelligence.

It was a rough day for homebuilders. Those stocks slumped after the Commerce Department said sales of new U.S. homes fell 5.3 percent last month. The decline occurred even though buyers continue to outnumber sellers in a still-tight housing market. Beazer Homes USA tumbled 7.7 percent to $13.28.

Benchmark U.S. crude added 78 cents, or 1.1 percent, to settle at $69.30 per barrel in New York. Brent crude, used to price international oils, added 49 cents to close at $73.93 per barrel in London.

Bond prices fell. The yield on the 10-year Treasury rose to 2.96 percent from 2.95 percent late Tuesday.

The dollar fell to 110.83 yen from 111.22 yen on Tuesday. The euro strengthened to $1.1699 from $1.1683.

Gold gained $6.30 to $1,231.80 an ounce. Silver added 7 cents to $15.59 an ounce. Copper rose 1 cent to $2.82 a pound.

In other energy futures trading, heating oil rose 2 cents to $2.15 a gallon. Wholesale gasoline added 3 cents to $2.12 a gallon. Natural gas gained 4 cents to $2.78 per 1,000 cubic feet.

Major stock indexes in Europe finished lower. Germany's DAX lost 0.9 percent and France's CAC 40 slipped 0.1 percent. London's FTSE 100 slid 0.7 percent.

In Asia, Tokyo's Nikkei 225 gained 0.5 percent and Hong Kong's Hang Seng rose 0.9 percent. Seoul's Kospi fell 0.3 percent. Sydney's S&P-ASX 200 declined 0.3 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ostly-lower-on-easing-of-us-eu-trade-tensions

*Facebook-Led Tech Slump Dims Broader Gains for US Stocks*
A steep drop in Facebook weighed on U.S. stocks Thursday, snapping a three-day winning streak for the S&P 500 and erasing more than $100 billion of the social media giant's market value.

By ALEX VEIGA, AP Business Writer

A plunge in Facebook shares weighed on U.S. stocks Thursday, erasing more than $100 billion of the social media giant's market value and snapping a three-day winning streak for the S&P 500 index.

Facebook's tumble led a sell-off in technology companies that offset solid gains in other areas of the market, including industrial and energy stocks and consumer goods companies. Small-company stocks did better than the rest of the market.

The broader gains reflect another round of strong company earnings and fresh optimism among investors that trade tensions between the U.S and European Union may be on the mend.

"It's a shock what happened to Facebook, but that little improvement in the trade picture and the continuation of the earnings results have just been spectacular," said Ted Theodore, portfolio manager at TrimTabs Asset Management.

The S&P 500 index dropped 8.63 points, or 0.3 percent, to 2,837.44. The Dow Jones Industrial Average climbed 112.97 points, or 0.4 percent, to 25,527.07. The Nasdaq composite index lost 80.05 points, or 1 percent, to 7,852.18.

The Russell 2000 index of smaller-company stocks gained 10.16 points, or 0.6 percent, to 1,695.36. More stocks rose than fell on the New York Stock Exchange.

The S&P 500, the market's benchmark index, is still on track for its fourth weekly gain in a row.

Facebook sank 19 percent to $176.26 after the social media giant said that its user base and revenue grew more slowly than expected in the second quarter, and that it expects slower revenue growth ahead. The slower growth came about as the company grappled with privacy scandals. All told, $119 billion of its value was wiped out, more than the entire value of General Electric.

"For such a big company to suffer such a significant decrease in price is really amazing to watch," said Erik Davidson, chief investment officer at Wells Fargo Private Bank.

Investors have been focused on the mostly favorable run of company quarterly earnings the past couple of weeks. At the same time, traders have been wary of global trade tensions, which have ratcheted up in recent weeks as the U.S. and some of its trading partners imposed tariffs and threatened more.

But talks held late Wednesday between President Donald Trump and a European Union delegation gave markets cause for encouragement after both sides agreed to work on a pact to dismantle trade barriers.

Facebook wasn't the only big company to report disappointing quarterly results or outlooks.

Ford lost 6 percent to $9.89 after the automaker disclosed a sharp drop in quarterly profits and said it would undertake a restructuring that will cost $11 billion over the next three to five years.

Mattel also slumped, dropping 4.2 percent to $15.61 after the maker of Barbie and Hot Wheels reported a loss that was larger than analysts were expecting. It also said it would eliminate more than 2,200 jobs.

Reports from other companies put investors in a buying mood.

D.R. Horton jumped 10.9 percent to $43.84 after the homebuilder reported earnings and revenue that easily beat Wall Street's forecasts. It also announced a $400 million share repurchase program.

Qualcomm vaulted 7 percent to $63.58 after the chipmaker reported earnings that beat analysts' expectations and said it would abandon a bid to acquire NXP.

Mondelez International, which sells Oreo cookies and Cadbury chocolate, climbed 4.3 percent to $43.27 after the company's latest quarterly earnings and revenue topped analyst estimates. Traders also bid up shares in rival Hershey, which gained 7.4 percent to $99.66.

Several airlines also traded higher, contributing to industrial sector gains. Alaska Air Group surged 9.6 percent to $64.76, while Southwest Airlines jumped 8.4 percent to $56.70. American Airlines added 4.8 percent to $40.02.

Benchmark U.S. crude rose 31 cents to settle at $69.61 per barrel in New York. Brent crude, used to price international oils, added 61 cents to close at $74.54.

The pickup in oil prices gave a boost to some energy stocks. Marathon Petroleum climbed 7.3 percent to $80.16.

Bond prices fell, sending yields higher. The yield on the 10-year Treasury rose to 2.98 percent from 2.97 percent.

The dollar rose to 111.23 yen from 110.83 on yen Wednesday. The euro weakened to $1.1645 from $1.1699.

Gold fell $6.10 to $1,225.70 an ounce. Silver lost 9 cents to $15.50 an ounce. Copper was little changed at $2.82 a pound.

In other energy futures trading, heating oil rose 3 cents to $2.18 a gallon. Wholesale gasoline added 4 cents to $2.16 a gallon. Natural gas added a penny to $2.78 per 1,000 cubic feet.

Major stock indexes in Europe rose. Germany's DAX jumped 1.8 percent while France's CAC 40 added 1 percent. Britain's FTSE 100 gained 0.1 percent. In Asia, Japan's Nikkei 225 lost 0.1 percent while South Korea's Kospi added 0.7 percent. Hong Kong's Hang Seng lost 0.5 percent.


----------



## bigdog

*The Australian sharemarket has closed the week higher, hitting a fresh 10-year high on the back of improved market sentiment and commodity prices.

The S&P/ASX 200 index rose 14.3 points, or 0.2 per cent, this week to 6300.2, beating the previous 10-year high by 14 points. *






https://www.usnews.com/news/busines...mostly-higher-defying-facebook-led-tech-slump

*Tech Stocks Lead Market Lower Again as Twitter Takes a Dive*
Technology companies pulled U.S. stocks lower, led by a nosedive in Twitter after the company reported weak user numbers and warned investors that more could be on the way.

By ALEX VEIGA, AP Business Writer

Technology companies led a slide in U.S. stocks Friday, adding to the market's losses from another tech-driven sell-off a day earlier.

Twitter plunged more than 20 percent, its second-biggest loss since going public in 2013, after the social media network said its monthly users declined in the second quarter.

While technology stocks made up much of the market's drop, smaller-company stocks fell more than the rest of the market. The losses outweighed gains in banks and phone companies.

Even so, the S&P 500, the market's benchmark index, had its fourth weekly gain in a row.

The week ended largely as it began, with investors focused on a cavalcade of company earnings reports, most of which have topped Wall Street's forecasts.

"There were clearly high expectations coming into second-quarter earnings and we've seen where companies have performed well relative to those expectations, they've typically been rewarded, and where they have fallen short of those expectations, either in current quarter or future guidance, is where you're seeing (selling) occur," said Bill Northey, senior vice president at U.S. Bank Wealth Management.

The S&P 500 index fell 18.62 points, or 0.7 percent, to 2,818.82. The Dow Jones Industrial Average slid 76.01 points, or 0.3 percent, to 25,451.06. The Nasdaq composite index, which is heavily weighted with technology companies, lost 114.77 points, or 1.5 percent, to 7,737.42. The Russell 2000 index of smaller-company stocks gave up 32.02 points, or 1.9 percent, to 1,663.34.

This was the busiest stretch of the second-quarter earnings season, with roughly a third of companies in the S&P 500 reporting results. While some companies posted results that fell short of analysts' forecasts, most delivered better-than-expected results and favorable outlooks.

Of the 49 percent of the companies in the S&P 500 that had issued quarterly results as of Friday, some 65 percent reported earnings and revenue that beat analysts' forecasts, according to S&P Global Market Intelligence.

That's reinforced the underlying perception in the financial markets that the U.S. economy is performing strongly and that the Federal Reserve will raise interest rates again next week.

The government said Friday that the U.S. economy surged in the April-June quarter to an annual growth rate of 4.1 percent. That's the fastest pace since 2014, driven by consumers who began spending their tax cuts and exporters who rushed to get their products delivered ahead of retaliatory tariffs.

The economic snapshot had been widely expected, so it didn't have a noticeable impact on the market or the sell-off in technology stocks.

For the second straight day a social media company led a steep decline in the technology sector. Twitter plummeted 20.5 percent to $34.12 after the company disclosed user totals and a forecast that disappointed investors.

Snap, the company behind the Snapchat messaging app, slid 4 percent to $12.83. Facebook shares gave up 0.8 percent to $174.89 a day after the social media giant led a slide in technology stocks that snapped the S&P 500's three-day winning streak.

Facebook's steep drop, which erased nearly $120 billion of the company's market value, was brought on by its warning to investors that it sees slower revenue growth ahead. With Friday's losses, Facebook shares came within a hair's length of finishing in a bear market, which is defined as a drop of 20 percent from a recent peak.

Other technology companies also had a rough day.

Intel skidded 8.6 percent to $47.68 after the chipmaker's latest quarterly report left analysts concerned about the company's profit margins and key businesses.

Computer hard drive companies contributed to the technology sector losses. Western Digital lost 7.7 percent to $71.13, while Seagate Technology slid 5 percent to $54.69.

CBS dropped 6.1 percent to $54.01, the biggest one-day loss for the stock in more than six years, following reports of sexual misconduct allegations against its CEO, Les Moonves.

Investors bid up shares in companies that reported solid quarterly results.

Expedia Group surged 9.5 percent to $137.79 after the online travel portal's quarterly earnings topped analysts' forecasts. Chipotle Mexican Grill climbed 5.7 percent to $472.30 after the restaurant chain said sales online and at established stores improved in its latest quarter.

Amazon.com rose 0.5 percent to $1,817.27 after the online retailer reported its biggest profit ever as its advertising and cloud computing businesses kept growing.

Benchmark U.S. crude lost 92 cents, or 1.3 percent, to settle at $68.69 per barrel in New York. Brent crude, used to price international oils, fell 25 cents to close at $74.29.

Bond prices rose, sending yields lower. The yield on the 10-year Treasury fell to 2.96 percent from 2.97 percent late Thursday.

The dollar slipped to 111 yen from 111.23 yen on Thursday. The euro strengthened to $1.1656 from $1.1645.

Gold lost $2.70 to $1,223 an ounce. Silver was little changed at $15.49 an ounce. Copper fell 2 cents to $2.80 a pound.

In other energy futures trading, heating oil slid 2 cents to $2.16 a gallon. Wholesale gasoline was little changed at $2.16 a gallon. Natural gas added 4 cents to $2.82 per 1,000 cubic feet.

Major indexes in Europe finished higher. Germany's DAX added 0.4 percent and the CAC 40 in France gained 0.6 percent. Britain's FTSE 100 picked up 0.5 percent. In Asia, Japan's Nikkei 225 index rose 0.6 percent. The Kospi in South Korea picked up 0.3 percent. Hong Kong's Hang Seng index edged 0.1 percent lower.

9049


----------



## bigdog

https://www.usnews.com/news/busines...ll-to-start-week-following-wall-street-losses

*Another Tech Stock Tumble Pulls US Indexes Sharply Lower*
Technology stocks continued to fall on Wall Street, extending their losses from the end of last week.

By STAN CHOE and MARLEY JAY, AP Business Writers

NEW YORK (AP) — Technology stocks tumbled for the third day in a row Monday as a sharp reversal for some of Wall Street's recent favorites worsened. Major U.S. indexes skidded.

Technology companies have done far better than the rest of the market in recent years, but they've fallen after Facebook and Twitter both reported weak user growth in the second quarter. Microsoft and Alphabet slumped Monday and Facebook, Twitter and Netflix have all fallen at least 20 percent from their record highs earlier this month.

"Is the stock 20 percent less valuable, or was it misvalued to begin with?" said Mark Hackett, chief of investment research at financial services firm Nationwide.

Still, Hackett says the drop for high-flying technology companies could become a good thing for the market if investors focus on companies with steadier revenue and more cash, including software makers, banks and industrial firms.

"It would be nice to see a broadening of the strength," he said.

Elsewhere, energy companies climbed along with the price of crude oil but industrial companies like Caterpillar continued to lose ground. Meat producer Tyson became the latest company to cut its profit projections and point to tariffs.

The S&P 500 lost 16.22 points, or 0.6 percent, at 2,802.60, and the Dow Jones Industrial Average fell 144.23 points, or 0.6 percent, to 25,306.83.

The Nasdaq composite has more technology stocks among its ranks, and it fell 107.41 points, or 1.4 percent, to 7,630. The Nasdaq has fallen at least 1 percent for three days in a row, which hadn't happened in three years.

Smaller companies fared as badly as larger ones. The Russell 2000 index slid 10.21 points, or 0.6 percent, to 1,653.13.

Twitter dropped 8 percent to $31.38, extending its 20.5 percent plunge on Friday. Facebook fell another 2.2 percent to $171.06. Netflix, which reported weak subscriber growth in early July, fell 5.7 percent to $334.96.

Hackett, of Nationwide, said that when investors value companies based on measurements like user growth and subscriptions instead of more traditional figures based on earnings, the stocks become vulnerable to big drops.

Even with its recent tumble, the technology sector of the S&P 500 is up almost 26 percent over the last year. The S&P 500 itself is up a bit more than 13 percent over that time.

Energy companies climbed as the price of benchmark U.S. oil spurted higher by 2.1 percent to $70.13 a barrel. Brent crude, the international standard, rose 0.9 percent to $74.97 a barrel in London.

Wholesale gasoline lost 0.1 percent to $2.16 a gallon. Heating oil gained 0.7 percent to $2.17 a gallon. Natural gas rose 0.5 percent to $2.80 per 1,000 cubic feet.

Caterpillar surpassed Wall Street expectations in the second quarter and raised its forecasts for the year as the construction market remained strong. The company said new tariffs will cost it $100 million to $200 million this year, and it will make up for it by raising prices.

That initially encouraged investors, but Caterpillar gave up an early gain and fell 2 percent to $139.75.

Pork and poultry processor Tyson cut its profit forecast because of rising tariffs and uncertainty about trade policies. The stock sank 7.6 percent to $58.72. Monday.

The Federal Reserve will begin a two-day meeting Tuesday. The Fed has said that it may raise rates two more times in 2018, but few economists expect a move at this upcoming meeting.

The Bank of England is expected to raise its key interest rate by a quarter of a percentage point on Thursday as inflation remains high. The Bank of Japan will also meet this week.

The yield on the 10-year Treasury note rose to 2.97 percent from 2.96 percent late Friday. It's been climbing for the last couple of weeks and is close to breaching 3 percent for the first time since May.

CBS stock plunged again as investors wondered if the broadcaster will replace longtime CEO Les Moonves soon. On Friday, a New Yorker article quoted six women accusing Moonves of sexual harassing them.

CBS says Moonves will remain CEO while an outside counsel investigates the allegations against him. The company also postponed its annual shareholders meeting. Its stock lost 5.1 percent to $51.28 Monday after a 6.1 percent drop Friday.

The U.S. jobs report is usually the most anticipated piece of economic data each month, and it arrives on Friday. Both the job market and economy have been strong recently, and economists expect Friday's report to show that employers added 193,000 jobs in July. That would be a slight slowdown from June's growth of 213,000.

Gold slipped 0.1 percent to $1,231.50 an ounce. Silver rose 0.3 percent to $15.54 an ounce. Copper lost 0.4 percent to $2.79 a pound.

Japan's Nikkei 225 fell 0.7 percent, South Korea's Kospi slipped 0.1 percent and the Hang Seng in Hong Kong lost 0.2 percent.

In Europe, France's CAC 40 fell 0.4 percent, and the DAX in Germany dropped 0.5 percent. The FTSE 100 in London was virtually flat.

The dollar held steady at 111 Japanese yen. The euro rose to $1.1710 from $1.1656, and the British pound rose to $1.3135 from $1.3113.


----------



## bigdog

https://www.usnews.com/news/busines...ets-rise-after-bank-of-japan-policy-statement

*Health Care and Industrial Stocks Lead US Indexes Higher*
U.S. indexes break out of a three-day losing streak as industrial stocks jump and a batch of strong earnings helps companies in health care and real estate.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks rose Tuesday following strong results from industrial and health care companies as well as a report that the U.S. and China are trying to restart trade talks. Small companies rallied.

Bloomberg News reported that representatives of the U.S. and China are looking for ways to open new talks to end their trade war. The report cited two people familiar with those efforts and said there was no agreement about a time frame for talks or what issues would be discussed. Earlier this month both nations placed import taxes on $34 billion worth of goods, and they've been threatening more severe measures.

The trade dispute could affect sales for many industrial companies and new tariffs on aluminum and steel imports are also sending costs for those companies higher. Companies including Deere and Caterpillar jumped while engine maker Cummins rose after its second-quarter report.

Vincent Reinhart, chief economist at Standish Mellon, a unit of BNY Mellon Asset Management, said investors have mostly stayed calm during the trade dispute because they think most of the tensions will get worked out by November. Rising corporate profits, which have been helped by the recent tax cuts, are also helping.

"Everybody thinks a deal will be cut before the midterms," he said. "That allows you to shake off the bad news and embrace the good."

Earnings from companies including Pfizer and Illumina gave health care stocks a boost and real estate companies climbed as well. Banks were left out of the rally as interest rates slipped.

The S&P 500 index rose 13.69 points, or 0.5 percent, to 2,816.29, making up most of the losses it took on Monday. The Dow Jones Industrial Average gained 108.36 points, or 0.4 percent, to 25,415.19. The Nasdaq composite added 41.78 points, or 0.5 percent, to 7,671.79. The Russell 2000 index of smaller-company stocks jumped 17.67 points, or 1.1 percent, to 1,670.80.

Deere, a farm equipment maker whose profits would be hurt by China's tariffs on soybeans, surged 4.8 percent to $144.79. Engine maker Cummins gained 4.1 percent to $142.81 after a better-than-expected second-quarter report. After a slump on Monday, construction equipment maker Caterpillar rose 2.9 percent to $143.80.

Genetic testing tools maker Illumina raised its forecasts after a strong second quarter and its stock climbed 12.1 percent to $324.36. Pfizer rose 3.5 percent to $39.93 after the biggest U.S. drugmaker topped analysts' projections and raised its forecasts for the year.

Elsewhere, cable company Charter Communications advanced 3.6 percent to $304.58 after its quarterly profit surpassed analysts' estimates.

High-powered laser maker IPG Photonics nosedived 26.9 percent to $164.04 after it said demand from Europe and China worsened during the second quarter. The company's revenue forecast for the current quarter fell far short of Wall Street's estimates.

Apple climbed 2.5 percent to $195.14 in aftermarket trading after reporting that its third-quarter profit and sales both topped analysts' projections. Its fourth-quarter sales forecast was also better than expected.

The Commerce Department said consumer spending grew another 0.4 percent in June, and a key measurement of inflation is up 2.2 percent over the last year. For the last four months, inflation has equaled or been slightly higher than the Federal Reserve's target of 2 percent. The Fed is meeting Tuesday and Wednesday but isn't expected to raise interest rates again until later this year.

The Labor Department said wages and benefits for U.S. workers continued to rise, but they grew at a slightly slower pace in the second quarter. That's a sign that even though unemployment is low, wages aren't picking up.

Technology companies ended a three-day losing streak. Chip equipment maker KLA-Tencor soared 10.5 percent to $117.42 after it topped Wall Street expectations in the second quarter. Chipmaker Qualcomm gained 3.3 percent to $64.09 as it started to buy back stock from shareholders.

Apple added 0.2 percent to $190.29 as investors waited for its quarterly report.

Technology stocks had plunged more than 5 percent in three days, and they regained only a small portion of that Tuesday.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.96 percent from 2.97 percent.

Economic growth in the 19-country eurozone slowed to 0.3 percent in the second quarter as trade tensions between the U.S. and Europe hurt business confidence. Since then, the EU and U.S. have agreed to hold off more tariffs and try to free up trade, though details remain hazy.

The French CAC 40 rose 0.4 percent and the British FTSE 100 gained 0.6 percent. The DAX in Germany added 0.1 percent.

Japan's Nikkei 225 index rose less than 0.1 percent after the Bank of Japan didn't announce any major changes to its monetary policies. South Korea's Kospi added 0.1 percent. Hong Kong's Hang Seng index fell 0.5 percent.

Benchmark U.S. crude lost 2 percent to $68.76 per barrel in New York. Brent crude, used to price international oils, fell 1 percent to $74.25 a barrel in London.

Wholesale gasoline slid 1.4 percent to $2.13 a gallon. Heating oil shed 1.8 percent to $2.13 a gallon. Natural gas slipped 0.5 percent to $2.78 per 1,000 cubic feet.

Gold rose 0.2 percent to $1,223.60 an ounce. Silver added 0.1 percent to $15.56 an ounce. Copper rose 1.4 percent to $2.83 a pound.

The dollar rose to 111.83 yen from 111 yen. The euro slipped to $1.1697 from $1.1710.


----------



## bigdog

https://www.usnews.com/news/busines...in-on-reports-china-us-may-resume-trade-talks

*Apple Soars but Energy, Industrial Stocks Weigh on Market*
Apple leaps to its largest gain in 18 months after it announced strong sales and rising iPhone prices.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Apple surged to its biggest gain in a year and a half Wednesday and drew closer to $1 trillion in value after it reported stronger iPhone sales and rising prices. But losses for energy and industrial companies left major stock indexes lower.

Already the most valuable company in the U.S., Apple was the biggest gainer of any S&P 500 stock Wednesday and the technology giant finished at another record high.

That made up for a lot of losses elsewhere in the market. Investors sold industrial stocks following reports that the Trump administration is considering a higher tax rate on Chinese imports. Energy and materials companies fell with the price of oil, and metals and car companies also declined.

After the close of trading, the administration said it might put a 25 percent tax on $200 billion in imports from China. It proposed a 10 percent tax in July, shortly after it placed a 25 percent tax on $34 billion worth of imports. China again threatened to retaliate.

China can't match the size of the tariffs the U.S. could put on Chinese exports. But Katie Nixon, chief investment officer for Northern Trust Wealth Management, said the Chinese government is already reacting to the new tariffs and the larger proposed ones by pumping more money into the economy and weakening its currency.

"They're sending a strong signal that they cannot just withstand (tariffs), but they can manage through a period of turmoil related to the negotiations," Nixon said.

The S&P 500 index slid 2.93 points, or 0.1 percent, to 2,813.36. The Dow Jones Industrial Average lost 81.37 points, or 0.3 percent, to 25,333.82.

The Nasdaq composite added 35.50 points, or 0.5 percent, to 7,707.29, but the Russell 2000 index of smaller-company stocks lost 1.54 points, or 0.1 percent, to 1,669.26. Almost two-thirds of the stocks on the New York Stock Exchange traded lower.

The S&P 500 index rose 3.6 percent in July in spite of the trade war between the U.S. and China. The markets got a lift from strong company earnings as well as efforts by the U.S. and European Union to resolve their trade differences.

As expected, the Federal Reserve left interest rates unchanged, but suggested it's likely to raise rates again in September. High-dividend stocks like consumer products makers sank as bond yields increased. Automakers fell as they reported their monthly sales and Ferrari plunged after it said it might not make some of the profit goals laid out by Sergio Marchionne, its late former CEO.

Apple said the average selling price for the iPhone jumped 20 percent in its latest quarter and its third-quarter profit and sales both surpassed analyst projections. Apple's third fiscal quarter is usually its weakest. The company's forecast for fourth-quarter revenue also topped Wall Street estimates.

Apple surged 5.9 percent to $201.50. That gives the company a value of $973 billion, based on its latest quarterly filing.

The Federal Reserve left interest rates unchanged and suggested it plans to keep raising rates as long as the economy stays healthy. The central bank noted the labor market continues to get stronger and the economy is growing at a strong clip, while inflation has reached its target of 2 percent a year.

Automakers mostly slid. Ferrari dropped 11 percent to $118 after new CEO Louis Camilleri warned that the company might not be able to reach the revenue targets outlined by Marchionne.

Industrial companies changed course again and took sharp losses.

Bond prices sank. The yield on the 10-year Treasury note rose to 3 percent from 2.96 percent.

Higher yields force interest rates on mortgages and other loans higher, making it more profitable for banks to lend money. However rising yields drew investors to bonds and away from high-dividend stocks like consumer goods makers.

SodaStream jumped 26.3 percent to $110.30 after the maker of beverage carbonation systems raised its annual forecasts following a strong quarterly report. Clothing maker Hanesbrands plunged 19.3 percent to $17.96 after it posted a smaller-than-expected profit and said Target won't renew a contract for an exclusive line of Champion clothing when the deal expires in January 2020.

Benchmark U.S. crude dropped 2 percent to $67.66 per barrel in New York. Brent crude, used to price international oils, fell 2.5 percent to $72.39 per barrel in London.

Wholesale gasoline sank 1.7 percent to $2.05 a gallon. Heating oil gave up 1.9 percent to $2.10 a gallon. Natural gas dipped 0.9 percent to $2.76 per 1,000 cubic feet.

The price of gold gave up 0.5 percent to $1,227.60 an ounce. Silver fell 0.7 percent to $15.45 an ounce and copper plunged 3 percent to $2.75 a pound.

The dollar fell to 111.56 yen from 111.83 yen. The euro slipped to $1.1664 from $1.1697.

Britain's FTSE 100 dropped 1.2 percent and Germany's DAX fell 0.5 percent. The French CAC 40 dipped 0.2 percent.

Japan's Nikkei 225 index rose 0.9 percent and South Korea's Kospi added 0.5 percent. In Hong Kong, the Hang Seng index dropped 0.9 percent.


----------



## bigdog

https://www.usnews.com/news/busines...-china-trade-worries-send-global-stocks-lower

*Apple Tops $1 Trillion, Leading Gains for US Stocks*
U.S. stocks shook off an early stumble and finished with solid gains, led by gains in technology companies as Apple reached $1 trillion in value.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks climbed Thursday as Apple led a rally in technology companies and reached $1 trillion in value. Consumer products and health care companies rose as second-quarter results from corporate America continued to surpass investors' expectations.

Stocks in Asia and Europe fell after the White House said it will consider even higher tariffs on Chinese imports, escalating the trade conflict between the world's two biggest economic powers.

U.S. stocks opened lower as energy and basic materials companies slumped, but those early losses eased as the day went on. Solid results from companies including Clorox, drugmaker Regeneron and electric car maker Tesla sent the market higher.

Apple jumped again, and became the first publicly traded company to top $1 trillion in market value. The stock climbed 9 percent over Wednesday and Thursday, its biggest two-day move in more than four years, to hit the milestone.

GBH Insights analyst Daniel Ives said Apple's lofty price tag reflects its unique position as a technology company that sells popular products that work together and which people stick with.

"Once you buy one Apple device in a household, likely you're going to buy multiple, three, four, five devices," he said. "They've built a consumer product empire."

Apple's value rose almost $83 billion in the last two days. That's as much as construction equipment maker and Dow component Caterpillar is worth. Other big technology companies also rose Thursday, recovering some of the losses they had absorbed late last week and early this week. Facebook and Microsoft both climbed.

The S&P 500 index rose 13.86 points, or 0.5 percent, to 2,827.22. The Dow Jones Industrial Average slipped 7.66 points to 25,326.16. The Nasdaq composite jumped 95.40 points, or 1.2 percent, to 7,802.69. The Russell 2000 index of smaller-company stocks added 12.84 points, or 0.8 percent, to 1,682.10.

Apple got to the $1 trillion mark shortly before noon and finished with a gain of 2.9 percent at $207.39.

Despite its eye-popping market value, by some measurements Apple stock isn't very expensive. The stock trades at 17.8 times its expected earnings over the next year. That's about the same as the rest of the S&P 500 index, and Apple has bigger profit margins.

Saudi Arabia's state-owned oil company, known as Saudi Aramco, has taken steps to prepare for an initial public offering, and Saudi officials say the IPO will value the company at around $2 trillion. But it's not clear when that offering might happen and without it, it's difficult to value the company.

Tesla soared 16.2 percent to $349.54. The electric car maker said production of its lower-cost Model 3 sedan is growing and CEO Elon Musk said the company doesn't expect to need to raise more money from investors.

Clorox rallied 6.2 percent to $142.44 after its fiscal fourth-quarter profit and its forecast for the current year were both better than analysts expected.

As of Wednesday, more than 300 companies in the S&P 500 had reported their quarterly results. S&P Global Markets Intelligence says 82 percent of those companies have announced larger profits than analysts expected. Total S&P 500 earnings are expected to grow 24 percent from last year.

The Trump administration said it might put a 25 percent tax on $200 billion in imports from China. That is up from a 10 percent tax it proposed in June. The tariffs likely wouldn't go into effect until at least September, as the government will hold a hearing about the proposal later in August and will seek public comment until Sept. 5.

TripAdvisor sank 11.2 percent to $51.18 as the travel booking site reported weaker sales than analysts expected and said revenue from hotels decreased.

Wynn Resorts reported profit and sales that missed estimates following a decrease in income from its Macau operation. The stock dropped 6.5 percent to $149.54. That comes a day after Caesars Entertainment said it expects weak results in the current quarter because of fewer scheduled events and lower room rates in Las Vegas.

Bond prices edged higher. The yield on the 10-year Treasury note fell to 2.99 percent from 3 percent.

The DAX index in export-reliant Germany tumbled 1.5 percent and the CAC 40 in France lost 0.7 percent. Britain's FTSE 100 slid 1 percent after the Bank of England raised its main interest rate. Japan's Nikkei 225 index sank 1 percent and Hong Kong's Hang Seng dropped 2.2 percent. The Kospi in South Korea shed 1.6 percent.

Benchmark U.S. crude rose 1.9 percent to $68.96 a barrel in New York. Brent crude, used to price international oils, gained 1.5 percent to $73.45 a barrel in London.

Wholesale gasoline rose 1.1 percent to $2.07 a gallon. Heating oil picked up 1.6 percent to $2.13 a gallon. Natural gas climbed 2.1 percent to $2.82 per 1,000 cubic feet.

Gold lost 0.6 percent to $1,220.10 an ounce. Silver fell 0.4 percent to $15.39 an ounce. Copper dipped 0.4 percent to $2.74 a pound.

The dollar rose to 111.69 yen from 111.56 yen. The euro slipped to $1.1587 from $1.1664.


----------



## bigdog

https://www.usnews.com/news/busines...-china-trade-worries-send-global-stocks-lower

*US Stocks Rise as Companies That Pay Big Dividends Surge*
US stocks rise after the Labor Department said employers continued to add jobs at a solid pace in July.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks rose Friday after the Labor Department said hiring remained solid in July and strong quarterly earnings continued to boost the market.

U.S. employers added 157,000 jobs last month, fewer than analysts expected. But the Labor Department said more jobs were added in May and June than it previously reported. That made up for the shortfall in July.

There was little reaction to China's threat to put tariffs on $60 billion in U.S. goods. Larger multinational companies climbed while smaller, U.S.-focused companies lagged the rest of the market. That's the opposite of what generally happens when investors are worried about trade tensions.

Bond prices edged higher, sending yields lower. Food companies and other big-dividend stocks rose.

Brad McMillan, chief investment officer for Commonwealth Financial Network, said the data show the economy is likely to keep expanding, but it's not heating up in a way that would push the Federal Reserve to raise interest rates more quickly.

"That's exactly what the market wants to see," he said. "This report is right in the sweet spot."

The S&P 500 index rose 13.13 points, or 0.5 percent, to 2,840.35. The Dow Jones Industrial Average gained 136.42 points, or 0.5 percent, to 25,462.58. The Nasdaq composite rose 9.33 points, or 0.1 percent, to 7,812.01. The Russell 2000 index of smaller-company stocks lost 8.73 points, or 0.5 percent, to 1,673.37.

The benchmark S&P 500 rose for the fifth week in a row. Some of those gains have been small, but that's the longest winning streak for the index this year.

The slightly weak jobs report reflected the bankruptcy of Toys R Us and job cuts in local governments, which dragged down the hiring totals.

Hourly wage growth remained modest in July, and inflation-adjusted wages are actually decreasing because inflation has gradually picked up. McMillan, of Commonwealth, said another reason for the slip is that companies are hiring people with lower education levels because there are more of those workers available. While low or stagnant wages are good for company profits and stock prices, it could pose a problem for the economy.

"One of the real questions going forward is whether in fact consumers can keep spending at the rate they have," he said.

Kraft Heinz climbed after the maker of Oscar Mayer meats and Jell-O pudding said improved sales in Europe and Asia helped offset weaker results from the U.S. and Canada. The New York Post also reported that Kraft has had talks with Campbell Soup about a possible deal.

The Post said Kraft hasn't made an offer. Kraft Heinz gained 8.6 percent to $64.48 and Campbell rose 2.5 percent to $42.76.

Cereal maker Post Holdings climbed 8 percent to $93.58 after reporting quarterly revenue that was higher than analysts expected. The company also said the private equity firm Thomas H. Lee Partners is investing in its private brands division, 8th Avenue Food & Provisions.

Video game publisher Take-Two Interactive jumped 9 percent to $123.41 percent after it topped Wall Street's expectations in the fiscal first quarter and raised its projections for the rest of the year. The company said players spent more money on "Grand Theft Auto Online" and "NBA 2K18" than it expected. Rival Activision Blizzard lost 3.7 percent to $71.32 after a weak revenue forecast.

China and the U.S. continued to threaten each other with tariffs. China's government said Friday that it will put tariffs on $60 billion in goods including coffee, honey and industrial chemicals if the U.S. goes ahead with a proposal to tax $200 billion in Chinese imports. The Trump administration said this week that it might put a tariff of 25 percent on those goods, a higher rate than it had threatened previously.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.95 percent from 2.98 percent.

Benchmark U.S. crude lost 0.7 percent to $68.49 a barrel in New York. Brent crude, used to price international oils, dipped 0.3 percent to $73.21 per barrel in London.

Wholesale gasoline slipped 0.1 percent to $2.07 a gallon. Heating oil fell 0.2 percent to $2.13 a gallon. Natural gas rose 1.3 percent to $2.85 per 1,000 cubic feet.

Energy companies traded lower following some disappointing quarterly reports. Noble Energy sank 7.9 percent to $32.89 and EOG Resources fell 2.8 percent to $122.41. Energy stocks have lagged the rest of the market in recent weeks after making big gains earlier this year.

Gold picked up 0.3 percent to $1,223.20 an ounce. Silver added 0.5 percent to $15.46 an ounce. Copper gained 0.9 percent to $2.76 a pound.

The dollar weakened slightly. It fell to 111.23 yen from 111.69 yen. The euro fell to $1.1578 from $1.1587.

The British FTSE 100 jumped 1.1 percent. Germany's DAX added 0.6 percent and the CAC 40 in France edged up 0.3 percent.

Japan's Nikkei 225 added less than 0.1 percent and Hong Kong's Hang Seng index gave up 0.2 percent. South Korea's Kospi added 0.8 percent.

9791


----------



## bigdog

https://www.usnews.com/news/busines.../asian-stocks-rise-after-solid-us-jobs-report

*US Stocks Get a Lift From Earnings; Berkshire Boosts Banks*
US stocks are rising following solid second-quarter results from companies including Berkshire Hathaway and Tyson Foods

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks finished broadly higher for the third day in a row Monday. Media, retail and technology companies rose, and Warren Buffett's Berkshire Hathaway led gains for the financial sector.

Most sectors climbed as companies including Facebook and Netflix recovered some of the losses they sustained recently. Investors continued to focus on companies' quarterly results instead of the escalating trade threats the U.S. and China made last week.

Company profits have rocketed higher this year thanks to the corporate tax cut and continued economic growth. But in the first quarter investors didn't always react to that growth because they were worried about the U.S.'s numerous trade disputes. Julian Emanuel, chief equity and derivative strategist for BTIG, said that's starting to change.

"The skepticism that we had a quarter ago seems, rightly, to be falling by the wayside," he said.

The S&P 500 index rose 10.05 points, or 0.4 percent, to 2,850.40, its highest close since Jan. 29. The benchmark index has risen for five weeks in a row, its longest winning streak in 2018.

The Dow Jones Industrial Average gained 39.60 points, or 0.2 percent, to 25,502.18. The Nasdaq composite added 47.66 points, or 0.6 percent, to 7,859.68. The Russell 2000 index of smaller-company stocks picked up 10.94 points, or 0.7 percent, to 1,684.31.

Facebook helped pull technology companies upward as it gained 4.4 percent to $185.69. The Wall Street Journal reported that Facebook has talked to four major U.S. banks about possibly offering new services through Facebook Messenger.

Results for Berkshire Hathaway were stronger than analysts expected and the company's Class B shares climbed 2.9 percent to $206.06.

Construction and technical services company Jacobs Engineering jumped 7.8 percent to $72.31 after it gave a strong forecast for its next fiscal year.

Tyson Foods gained 3.3 percent to $59.64. The poultry and pork processor cut its profit forecast last week in part because of uncertainty surrounding trade policy and rising freight costs. Its stock is down 26 percent this year.

Consumer products company Newell Brands dropped 14.3 percent to $22.76. The company said the liquidation of Toys R Us hurt its baby products business.

The company also said the combination of U.S. tariffs on goods from China and tariffs imposed by the European Union and Canada following the U.S. taxes on imported steel and aluminum could cost it as much as $100 million a year.

The S&P 500 is getting close to its most recent closing high of 2,872, which was set on Jan. 26. Emanuel said the index might be at 3,000 now, about 5 percent higher than it was Monday, if not for the ongoing trade disputes. He said the S&P could reach that mark if the trade disputes end, but added that that trading could become volatile this fall if there isn't progress.

"There is a hope and there is an expectation... that you are going to favorably resolve the trade issues," he said.

Rite Aid plunged 9.8 percent to $1.66 after it forecast a bigger loss for the year because generic drug pricing isn't shaping up the way it expected.

Later this week shareholders will vote on the proposed sale of Rite Aid to the Albertsons grocery store chain. The owner of Safeway agreed to buy Rite Aid in February, but two shareholder advisory firms and one major Rite Aid shareholder opposed the deal.

PepsiCo said Indra Nooyi will step down as its CEO in October after 12 years leading the company. Ramon Laguarta, Pepsi's head of corporate strategy, will become its next CEO. The stock rose 0.9 percent to $117.38.

Oil futures gave up most of an early gain, but still finished higher. Benchmark U.S. crude rose 0.8 percent to $69.01 a barrel in New York. Brent crude, used to price international oils, rose 0.7 percent to $73.75 a barrel in London.

Wholesale gasoline remained at $2.07 a gallon. Heating oil climbed 0.6 percent to $2.14 a gallon. Natural gas added 0.2 percent to $2.86 per 1,000 cubic feet.

Regulators in China tightened controls on trading in the yuan in a possible effort to stop its decline against the dollar. The yuan has drifted lower against the dollar since February, which could help Chinese exporters that face higher U.S. tariffs but also raises the risk of capital flowing out of the economy.

The British pound weakened after the U.K.'s trade minister warned that the country risks leaving the European Union without a deal to avoid tariffs and other trade barriers. The currency fell to $1.2944, its lowest in almost a year, from $1.3007 on Friday.

The dollar rose to 111.40 yen from 111.23 yen. The euro fell to $1.1556 from $1.1578.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.94 percent from 2.95 percent.

Gold fell 0.4 percent to $1,217.70 an ounce. Silver dipped 0.7 percent to $15.35 an ounce. Copper lost 1.2 percent to $2.73 a pound.

Germany's DAX lost 0.1 percent and while London's FTSE 100 added 0.1 percent. France's CAC 40 fell less than 0.1 percent.

Tokyo's Nikkei 225 fell 0.1 percent. Hong Kong's Hang Seng added 0.5 percent and Seoul's Kospi dipped less than 0.1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...asian-stock-markets-follow-wall-street-higher

*Banks and Technology Lead Stocks Higher for 4th Day in a Row*
Strong quarterly results continue to lift U.S. stocks, sending the S&P 500 higher for the fourth day in a row.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks climbed for the fourth straight day Tuesday as strong earnings continued to pull the market closer to the all-time high it set in late January.

Industrial companies rose Tuesday and banks moved higher as interest rates increased. Gains for Microsoft and Google's parent company Alphabet helped technology companies.

Companies including Hertz, Etsy and Mosaic climbed after their results surpassed investors' forecasts. Tesla surged after CEO Elon Musk later said he might take the company private.

Gina Martin Adams, chief equity strategist for Bloomberg Intelligence, said companies are reporting huge profit and revenue growth. That's nudged concerns about trade tensions with China, Europe, Canada and Mexico out of investors' minds.

"Very strong top line and bottom line growth from the vast majority of companies overwhelmed any fears that started to bubble up in June," she said.

She added that the tariffs that the U.S. and its trading partners have announced recently are still small and haven't affected the broader market very much.

The S&P 500 index rose 8.05 points, or 0.3 percent, to 2,858.45. The Dow Jones Industrial Average jumped 126.73 points, or 0.5 percent, to 25,628.91. The Nasdaq composite gained 23.99 points, or 0.3 percent, to 7,883.66. The Russell 2000 index of smaller-company stocks edged up 3.99 points, or 0.2 percent, to 1,688.30.

The S&P 500 closed at an all-time high Jan. 26. After that, it dropped 10 percent in nine days as investors worried about signs that inflation was accelerating. That hasn't materialized, but trade fears have weighed on the market since then.

Rental car company Hertz soared 24.6 percent to $19.53, its biggest gain in almost a decade. But even with that huge gain, the stock is still down 12 percent for the year.

A little more than four years ago, Hertz stock traded above $120 a share. It plunged as the company dealt with overcapacity in the rental car market and the value of its vehicles decreased. Hertz has changed CEOs twice in four years.

Bond prices fell. The yield on the 10-year Treasury note climbed to 2.98 percent from 2.95 percent. Banks and financial companies also climbed as interest rates rose.

Tesla stock climbed after the Financial Times reported that Saudi Arabia's sovereign wealth fund had invested in the company. It soared further after Musk tweeted that he might take the electric car maker private.

He followed up with a blog post saying he hadn't made a decision, but such a move would make it easier for Tesla to focus on long-term goals.

Musk, who owns about 20 percent of Tesla's stock, said he would pay $420 a share, well above Tesla's all-time high from September. The stock gained 11 percent to $379.57.

Dental products maker Dentsply cut its forecasts and took a $1.26 billion charge connected to its technology and equipment business. The company said sales and profit margins have been weaker than expected and it plans to restructure its business. The stock dropped 18.7 percent to $39.41.

Online real estate marketplace Zillow cut its revenue forecast for the year and also said it's buying Mortgage Lenders of America. Terms weren't disclosed. The stock fell 14.8 percent to $49.56.

Weight Watchers International sank 14.8 percent to $78.53. The weight loss company raised its forecasts for the year, but said it lost subscribers in the second quarter.

The stock was worth about $6 per share in October 2015 when the company announced a deal with Oprah Winfrey to promote its products.

Billionaire investor Carl Icahn said health insurer Cigna shouldn't buy pharmacy benefits manager Express Scripts. He said the $52 billion deal costs too much and that Express Scripts faces several major threats.

Icahn owns Cigna stock and has bet that Express Scripts stock will fall. But both stocks rose Tuesday. Express Scripts gained 2.8 percent to $78.95 and Cigna rose 0.2 percent to $188.27.

Cigna is up 5 percent since the Wall Street Journal reported that Icahn is against the deal. Express Scripts is down less than 1 percent.

U.S. crude oil picked up 0.2 percent to $69.17 a barrel in New York. Brent crude, the standard for international oil prices, rose 1.2 percent to $74.65 a barrel in London.

Wholesale gasoline added 1.9 percent to $2.10 a gallon. Heating oil rose 1.4 percent to $2.17 a gallon. Natural gas gained 1.3 percent to $2.90 per 1,000 cubic feet.

A government newspaper said Beijing planned to issue policies to encourage investment amid concern about slowing economic growth and trade tensions. The China Daily said some state banks issued orders to local branches to lend more money.

Gold was little changed at $1,218.30 an ounce. Silver edged up 0.2 percent to $15.37 an ounce. Copper rose 0.8 percent to $2.75 a pound.

The dollar rose to 111.43 yen from 111.40 yen. The euro rose to $1.1594 from $1.1556.

Germany's DAX rose 0.4 percent and France's CAC 40 advanced 0.9 percent. London's FTSE 100 gained 0.7 percent.

The Japanese Nikkei 225 advanced 0.7 percent and Hong Kong's Hang Seng added 1.5 percent. In South Korea, the Kospi rose 0.6 percent.


----------



## bigdog

https://www.usnews.com/news/busines...xed-after-new-us-tariffs-put-on-china-exports

*US Stock Indexes Dip as Oil Prices Sink Energy Companies*
U.S. stocks finish mostly lower as a drop in oil prices drags down energy companies and industrial companies also decline.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — A late gain for U.S. stocks slipped away Wednesday as a four-day winning streak ended. Energy companies sank along with the price of oil.

The price of crude oil fell more than 3 percent Wednesday. Big dividend payers and industrial companies slipped. Gains for Microsoft, Facebook and Alphabet helped technology companies finish higher. Banks and health care companies also rose.

The U.S. and China both announced new tariffs: later this month each country will put a 25 percent tax on $16 billion in goods imported from the other. Both countries placed tariffs on $34 billion in imports earlier this month, and they have threatened much larger tariffs to come.

But investors have been focusing on rising company earnings instead. Karyn Cavanaugh, senior markets strategist at Voya Investment Management, said U.S. companies are expecting bigger profits in spite of the tariffs.

"That speaks to me a lot louder than a lot of negative headlines," she said. "Companies have gotten very good at minimizing their costs and being very efficient with what they have."

The S&P 500 index dipped 0.75 points to 2,857.70. The Dow Jones Industrial Average fell 45.16 points, or 0.2 percent, to 25,583.75. The Nasdaq composite rose 4.66 points, or 0.1 percent, to 7,888.33. The Russell 2000 index of smaller stocks lost 1.42 points, or 0.1 percent, to 1,686.88.

The Trump administration plans to tax Chinese industrial products such as steam turbines and iron girders starting Aug. 23. China's government said it will put tariffs on U.S. goods including cars, crude oil and scrap metal starting on the same date.

Oil futures fell sharply. U.S. crude oil lost 3.2 percent to $66.94 a barrel in New York. Brent crude, the standard for international oil prices, fell 3.2 percent to $72.28 a barrel in London.

Exxon Mobil lost 0.7 percent to $80.73 and Chevron dipped 1 percent to $123.88.

Snap, which runs the Snapchat video app, fell 6.8 percent to $12.23 after it said daily users fell during the second quarter. It's the latest technology company to have its stock drop after announcing discouraging user totals, joining Facebook, Twitter and Netflix.

Match Group, the parent of online dating companies including Match.com and OKCupid, bucked that trend. Its stock jumped 17.3 percent to $45.60 after Match reported big gains in subscribers, especially for Tinder. Its adjusted profit and revenue beat Wall Street projections.

Drugstore and pharmacy benefits manager CVS raised its annual profit forecast and rose 4.2 percent to $68.17. CVS said prescriptions sales grew, although it took a loss after it wrote down the value of its Omnicare pharmacy services business by almost $4 billion.

In April, construction equipment company Caterpillar said it doubted it would top its first-quarter profit for the rest of this year. Investors were concerned that that might hold true for the rest of corporate America, but so far it hasn't.

A month ago analysts expected the companies of the S&P 500 to earn $160.32 per share in 2018. That's risen by almost a dollar, to $161.29 a share. Their estimates for 2019 have risen by a bit more than a dollar, to $177.52 a share from $176.38.

Twinkie maker Hostess Brands plunged 17.6 percent to $11.49 after it said its results were hurt by cuts in promotional support and inventory from a major retailer and higher costs, including for transportation.

Pizza maker Papa John's fell 5.2 percent to $38.94 after it said North American sales fell again. The company also cut its forecasts for the year. Papa John's is in a public spat it with founder John Schnatter, who was ousted as chairman in July after a report he used a racial slur in a conference call.

Domino's, a rival pizza delivery company, climbed 3.4 percent to $286.92.

Walt Disney fell 2.2 percent to $113.98 after the entertainment company's profit and revenue fell short of analysts' estimates.

Cars.com and Avis Budget Group both sank after cutting their sales forecasts. Rental car company Avis skidded 15.2 percent to $32.85 while Cars.com, an online auto marketplace, dipped 2.6 percent to $27.29.

Struggling rival Hertz jumped 24 percent Tuesday after a better-than-expected quarterly report. Hertz fell 7.3 percent to $18.11 Wednesday.

Bond prices turned higher. The yield on the 10-year Treasury note fell to 2.96 percent from 2.97 percent.

In other commodities trading, wholesale gasoline fell 4 percent to $2.02 gallon. Heating oil lost 2.5 percent to $2.12 a gallon. Natural gas rose 1.8 percent to $2.95 per 1,000 cubic feet.

Gold rose 0.2 percent to $1,221 an ounce. Silver gained 0.4 percent to $15.43 an ounce. Copper remained at $2.75 a pound.

The dollar fell to 110.96 yen from 111.43. The euro inched up to $1.1619 from $1.1594.

The German DAX fell 0.1 percent and France's CAC 40 lost 0.4 percent. In Britain, the FTSE 100 index rose 0.8 percent.

Japan's Nikkei 225 index gave up early gains and closed 0.1 percent lower. Hong Kong's Hang Seng index added 0.4 percent while South Korea's Kospi edged 0.1 percent higher.


----------



## bigdog

https://www.usnews.com/news/busines...ks-jump-other-markets-mixed-as-trade-in-focus

*Retail Gains and Bank Losses Leave US Stocks Little Changed*
Stocks again finish little changed as retailers rise, but banks fall along with interest rates.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Major U.S. indexes stood stock-still for the third consecutive day Thursday as gains for retailers were canceled out by losses for banks and other companies.

Energy companies again headed lower after a sharp drop in oil prices the day before. Amazon and media company Viacom led consumer-focused companies higher. The Nasdaq composite inched higher and notched its eighth gain in a row.

Banks fell along with interest rates after the Labor Department reported that wholesale prices were little changed in July. That's a sign inflation pressures weakened slightly, which could encourage the Federal Reserve to go slower in its process of raising interest rates.

Trading this week has been light and investors seem to have set aside their worries about trade tensions. The S&P 500 made a solid gain on Monday but has hardly budged since then. The VIX, a measure of how much volatility investors expect, has fallen to its lowest level since early January.

"It's not that risk has gone away," said JJ Kinahan, chief market strategist for TD Ameritrade. "Quantifiable risk is not there right now."

The S&P 500 index fell in the final minutes of trading, closing down 4.12 points, or 0.1 percent, to 2,853.58. The Dow Jones Industrial Average slipped 74.52 points, or 0.3 percent, to 25,509.23.

The Nasdaq composite added 3.46 points to 7,891.78. The Russell 2000, an index of smaller companies, added 4.01 points, or 0.2 percent, to 1,690.89.

The Labor Department said wholesale prices were unchanged in July. Gas and food prices both slipped and soybeans prices tumbled, likely reflecting a buildup in stockpiles after China imposed tariffs on them in retaliation for U.S. duties.

Bond prices jumped. The yield on the 10-year Treasury note fell to 2.93 percent from 2.97 percent. That hurt banks, as lower interest rates make long-term loans like mortgages less profitable.

Several companies traded on deal news, but most of the news was about deals that fell apart. Rite Aid called off its sale to the grocery chain Albertsons following opposition from advisory firms and one of Rite Aid's biggest shareholders. Rite Aid fell 11.5 percent to $1.54.

Walgreens tried to buy Rite Aid last year, but settled for buying about half of its stores after regulators opposed a full sale. The company has been struggling with high debt and tough competition.

Tribune Media withdrew from its planned sale to Sinclair Broadcasting and said it will sue Sinclair for breach of contract. Both stocks plunged in mid-July when the Federal Communications Commission expressed major concerns about the deal.

Tribune rose 2.9 percent to $34.60 and Sinclair added 2.6 percent to $27.80.

Electric car maker Tesla tumbled 4.8 percent to $352.45. The stock surged 11 percent Tuesday, mostly because CEO Elon Musk tweeted that he was considering taking Tesla private.

The Wall Street Journal has reported that the Securities and Exchange Commission has opened an inquiry into the wording and the method of Musk's announcement, while Bloomberg News reported that the SEC started an inquiry even before the tweet.

Tesla has given up most of Tuesday's gain, suggesting investors are dubious about the potential deal.

Business information provider Dun & Bradstreet agreed to be bought by a group of investors for $145 a share, or about $5.4 billion. The stock rallied 15.8 percent to $142.21.

The S&P 500 is on track for its sixth weekly gain in a row as an unusually strong round of corporate earnings winds down. Retailers including Macy's and Walmart are scheduled to report their results next week, and Kinahan, of TD Ameritrade, said stocks could resume their upward climb if those companies say shoppers are still spending freely.

Online reviews company Yelp jumped 26.7 percent to $48.33 after it raised its revenue forecast and said advertising revenue surged in the second quarter. Video streaming company Roku climbed 21.3 percent to $57.32 after it took a smaller loss than analysts expected while its revenue surpassed expectations.

Travel site Booking Holdings lost 5 percent to $1,942.39 after a weak profit forecast. Generic drugmaker Perrigo cut its forecasts because of weak results from its prescription business and said it plans to split that unit into a separate company. The stock sank 10.6 percent to $70.03.

Crude prices stabilized following a 3 percent drop a day earlier. Benchmark U.S. crude oil dipped 0.2 percent to $66.81 a barrel in New York. Brent crude, the standard for international oil prices, lost 0.3 percent to $72.07 per barrel in London.

Wholesale gasoline lost 1 percent to $2 a gallon. Heating oil slid 0.2 percent to $2.11 a gallon. Natural gas rose 0.2 percent to $2.96 per 1,000 cubic feet.

The dollar inched up to 111.04 yen from 110.96 yen. The euro fell to $1.1542 from $1.1619.

Gold lost 0.1 percent to $1,219.90 an ounce. Silver added 0.2 percent to $15.46 an ounce. Copper gained 0.5 percent to $2.77 a pound.

The German DAX rose 0.3 percent. Britain's FTSE 100 fell 0.4 percent while France's CAC 40 rose less than 0.1 percent.

Hong Kong's Hang Seng index advanced 0.9 percent and the Japanese Nikkei 225 slipped 0.2 percent. South Korea's Kospi inched up 0.1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...es-slip-despite-upbeat-japanese-economic-data

*Turkish Turmoil Knocks US and European Stocks Lower*
Stocks in the U.S. and Europe take sharp losses as Wall Street worries about financial instability in Turkey.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks in the U.S. and Europe skidded Friday as investors worried about the financial stability of Turkey and how it might affect the global banking system.

Turkish President Recep Tayyip Erdogan has accumulated more and more control over the country's central bank as well as its financial system, which is now run by his son-in-law. Its currency is plunging and Turkey is also in a diplomatic spat with the U.S., a major trading partner.

Alex Dryden, global markets strategist for JPMorgan Asset Management, said Erdogan showed no signs of changing course Friday, and investors are losing hope that Turkey's government has the knowledge or independence needed to deal with the country's financial problems.

"There was some hope that maybe they'd step back from the brink and you'd see a re-establishment of central bank independence," he said.

While Dryden and other analysts say Turkey's problems aren't a major risk to the financial system, investors didn't wait to find out Friday.

They sold stocks and bought U.S. dollars and government bonds. The bond purchases sent interest rates lower, which hurt banks. The dollar got stronger, partly because the Turkish lira nosedived, and major exporters like technology, basic materials and industrial companies sank.

The S&P 500 slid 20.30 points, or 0.7 percent, to 2,833.28. That was its worst loss in a month and ended a five-week winning streak for the index by wiping out its gains from earlier this week.

The Dow Jones Industrial Average dropped 196.09 points, or 0.8 percent, to 25,313.14. The Nasdaq composite sank 52.67 points, or 0.7 percent, to 7,839.11. It had risen for eight days in a row.

The Russell 2000 index of smaller-company stocks took a smaller loss of 4.08 points, or 0.2 percent, to 1,686.80. The companies in that index are less reliant on exports, and the stronger dollar makes their imports less costly.

Investors are concerned about Erdogan's economic views. He says higher interest rates lead to higher inflation, the opposite of what standard economic theory says. As a result he's pushed Turkey's central bank to keep interest rates low, threatening its independence and preventing it from shoring up the lira.

The U.S. is the biggest importer of Turkish steel, and on Friday President Donald Trump said he will authorize higher tariffs on steel and aluminum from Turkey, a NATO ally. That sent the lira down even further. It's down 40 percent this year against the dollar.

The U.S. sanctions come after Turkey arrested an American pastor and put him on trial for espionage and terror-related charges.

The weakening lira has been pushing up the cost of goods for Turkish people and has damaged international investors' confidence in the country. Since some of Turkey's debt is in dollars, it's also making the country's financial situation worse.

European banks fell sharply. The U.S.-listed shares of Germany's Deutsche Bank lost 4.7 percent to $11.82 and Spanish Banco Santander fell 4.7 percent to $5.19.

Dryden, of JPMorgan Asset Management, said Erdogan has replaced independent advisers and leaders with relatives and supporters and set off a "gradual process of eroding economic credibility among financial and economic institutions."

Bond prices jumped. The yield on the 10-year Treasury note fell to 2.87 percent from 2.93 percent. That helped send bank stocks lower. JPMorgan Chase slid 1 percent to $115.73 and Citigroup retreated 2.4 percent to $70.26.

Emerging market currencies fell and the dollar jumped. The ICE U.S. Dollar Index was already trading around annual highs and it rose another 0.9 percent, a large move.

The euro fell to $1.1398, its lowest in more than a year, from $1.1542. The dollar fell to 110.64 yen from 111.04 yen after a strong economic growth report form Japan.

Germany's DAX fell 2 percent and the CAC 40 in France fell 1.6 percent. Britain's FTSE 100 lost 1 percent. The Nikkei 225 index in Japan lost 1.3 percent. Hong Kong's Hang Seng gave up 0.8 percent. In South Korea, the Kospi lost 0.9 percent.

Energy companies rose slightly as oil prices increased. Benchmark U.S. crude oil rose 1.2 percent to $67.63 a barrel in New York and Brent crude, the standard for international oil prices, rose 1.1 percent to $72.83 a barrel in London.

Wholesale gasoline rose 2 percent to $2.04 a gallon. Heating oil added 1.3 percent to $2.14 a gallon. Natural gas lost 0.4 percent to $2.94 per 1,000 cubic feet.

Online discount retailer Overstock.com surged 7.9 percent to $41.65 after it said private equity firm GSR Capital will make an investment in its blockchain business.

Overstock is one of the few major retailers that accepts payment in bitcoin, and its stock surged as bitcoin prices rose last year. However digital currency prices and the company's stock have both dropped in 2018.

The Labor Department said consumer prices climbed 2.9 percent in July compared with a year ago. The main cause was an increase in housing prices. That matched June's pace, which was the highest in six years.

Gold dipped 0.1 percent to $1,219 an ounce. Silver fell 1.1 percent to $15.30 an ounce. Copper lost 0.8 percent to $2.74 a pound.

3148


----------



## bigdog

https://www.usnews.com/news/busines...ks-sink-as-turkey-fears-hurt-emerging-markets

*US Stocks Take Further Losses as Turkey Worries Continue*
US stocks give up an early gain and close lower as investors continue to worry that Turkey's financial woes could affect other countries.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks fell further on Wall Street Monday as Turkey's central bank was unable to stop a steep plunge in that nation's currency. That's helping to push the dollar higher, which hurts big U.S. exporters.

Stocks were coming off their worst losses in a month as investors worried about financial and economic upheaval in Turkey and the possibility it will spread to other countries. Asian markets fell overnight, while European markets were slightly lower.

Global markets skidded Friday as investors worried that financial distress in Turkey could affect the international banking system and the broader economy. Many analysts say that isn't likely, but it's caused sharp losses for stocks.

On Monday Turkey's central bank announced measures to help that country's banks, but the Turkish lira and Turkey's stock market continued to slide.

The lira has been tumbling as investors question whether the government of President Recep Tayyip Erdogan can cope with problems including the weakening currency and a diplomatic spat with Washington that has resulted in higher U.S. tariffs.

Erdogan has ruled out the possibility of higher interest rates, which can slow economic growth, but independent analysts say higher rates are urgently needed to stabilize the country's currency. Erdogan's refusal is one of several factors worrying investors.

Investors also backed away from Argentina's stock market. The Argentinian peso sank to an all-time low amid investor caution and a local corruption scandal involving former government officials.

While Turkey and Argentina face very different political situations, the currencies of both countries have tumbled to all-time lows against the dollar, partly because rising interest rates in the U.S. lure investors to take money out of their markets and move it to the U.S.

The U.S. dollar is the strongest it's been in more than a year, which could eventually create problems for U.S. companies that make a lot of sales overseas.

Terry Sandven, chief equity strategist at U.S. Bank Wealth Management, said the dollar has strengthened because economic growth has picked up and other regions aren't doing as well.

"The U.S. is a relative beacon of strength with stable to improving economy. That suggests a stronger dollar," he said.

The S&P 500 index lost 11.35 points, or 0.4 percent, to 2,821.93 after a drop of 0.7 percent Friday. The Dow Jones Industrial Average slid 125.44 points, or 0.5 percent, to 25,187.70.

Energy and industrial companies and basic materials companies took some of the worst losses. Technology companies held up better.

The Nasdaq composite fell 19.40 points, or 0.2 percent, to 7,819.71. The Russell 2000 index of smaller-company stocks sank 11.49 points, or 0.7 percent, to 1,675.32.

Investors are worried about a confluence of factors including Turkey's reliance on foreign loans, which become more difficult to repay when the country's currency is plunging. Also, a diplomatic spat with the U.S. is resulting in sharply higher tariffs on Turkish steel and aluminum.

After a yearlong stretch where much of the global economy was speeding up together and stocks were rising, the recent losses for Turkey and Argentina have caused emerging market indexes to fall out of favor.

Stocks were on a five-week winning streak before last week, and strong corporate earnings reports were a big factor. But most of those reports are done, and Sandven, of U.S. Bank, said stocks may spend the next two months wavering.

In corporate news, German conglomerate Bayer took a dive after a U.S. jury ruled against its Monsanto unit Friday and awarded $289 million to a former school groundskeeper who said that exposure to Monsanto's Roundup weed killer caused cancer. Monsanto said government agencies and hundreds of studies have concluded Roundup is safe.

Trading in Germany, Bayer tumbled 10.3 percent.

Motorcycle maker Harley-Davidson fell 4.3 percent to $41.38 after President Donald Trump tweeted in support of a potential boycott of its products.

Trump has been criticizing the company since June, when it said it would move more manufacturing out of the U.S. to avoid European tariffs. The EU put new taxes on U.S. motorcycles in response to the Trump administration's tariffs on products imported from Europe.

U.S. crude oil fell 0.6 percent to $67.20 a barrel in New York. Brent crude lost 0.3 percent to $72.61 a barrel in London.

Nielsen Holdings jumped 12.1 percent to $24.62 after Elliott Management, a firm run by activist investor Paul Singer, disclosed an ownership stake and said Nielsen should consider selling itself or some of its assets to boost its stock price.

Nielsen stock has been sinking since it traded over $50 two years ago.

Most retailers were down, but Amazon advanced 0.5 percent to $1,896.20. It passed travel website Booking Holdings to become the highest-priced stock on the S&P 500.

In other energy trading, wholesale gasoline dipped 1.2 percent to $2.01 a gallon. Heating oil lost 0.1 percent to $2.14 a gallon. Natural gas slid 0.5 percent to $2.93 per 1,000 cubic feet.

Gold dropped 1.6 percent to $1,198.90 an ounce, its lowest price since January 2017. Silver fell 2 percent to $14.98 an ounce. Copper dipped 0.4 percent to $2.73 a pound.

Bond prices were little changed. The yield on the 10-year Treasury note stayed at 2.88 percent.

Germany's DAX declined 0.5 percent and London's FTSE 100 retreated 0.3 percent. France's CAC 40 fell less than 0.1 percent.

Tokyo's Nikkei 225 lost 2 percent and Hong Kong's Hang Seng retreated 1.5 percent.

The dollar rose to 110.69 yen from 110.64 yen. The euro dipped to $1.1394 from $1.1398.


----------



## bigdog

https://apnews.com/44579da6a78f45c4...rs-small-companies-rally-as-Turkey-fears-ease

*US retailers small companies rally as Turkey fears ease*

*By MARLEY JAY*

NEW YORK (AP) — U.S. stocks rallied Tuesday as banks, retailers, and smaller companies jumped. That helped the market recover most of its losses from the previous two days.

The Turkish lira steadied as officials from Turkey and the U.S. said the countries are in talks to ease diplomatic tensions, which have resulted in high tariffs on Turkish steel and aluminum. Stocks in emerging markets like Argentina, Russia and Brazil jumped.

In the U.S., the biggest gains went to small and mid-size companies, which do more business domestically compared to the large multinational firms on indexes like the S&P 500 and the Dow Jones Industrial average. Retailers rose, thanks in part to strong quarterly reports.

The reduced tensions with Turkey also stopped a rally in bond prices and sent yields and interest rates higher. That helped banks. Industrial and basic materials companies also rose Tuesday, but compared to other parts of the market, they didn’t recover as much of their losses.

Invesco Chief Global Market Strategist Kristina Hooper said investors are shifting money into more U.S.-focused companies in response to the Trump administration’s aggressive handling of its dispute with Turkey, a longtime member of NATO.

“This is a reminder that the U.S. is a very different country than it was just a few years ago,” she said.

The S&P 500 index climbed 18.03 points, or 0.6 percent, to 2,839.96. The Dow Jones Industrial Average gained 112.22 points, or 0.4 percent, to 25,299.92. The Nasdaq composite added 51.19 points, or 0.7 percent, to 7,870.89. The Russell 2000 index advanced 17.26 points, or 1 percent, to 1,692.58.

The S&P 500 fell a combined 1.1 percent Friday and Monday as investors worried that Turkey’s financial woes would affect other countries.

Many retailers will report their quarterly results this week, a potential hint about how much money consumers are spending. Tapestry, the parent company of Coach and Kate Spade, jumped after its fourth-quarter results surpassed analysts’ estimates. The stock surged 12 percent to $53.16.

Auto parts retailer Advance Auto Parts jumped 7.8 percent to $156.13 after it did better than expected in the second quarter. Competitors AutoZone and O’Reilly Automotive climbed as well.

Smaller companies made outsize gains. Footwear maker Wolverine World Wide gained 2.4 percent to $38.39 and watchmaker Fossil rose 4.8 percent to $25.68.

Among midsize companies, Boston Beer picked up 3.9 percent to $291.30 and RV maker Thor Industries rose 2.6 percent to $97.06.

Global markets fell Friday and Monday on concern that Turkey’s currency turmoil could spread to banks in other countries and affect the world economy. The Argentine peso and India’s rupee hit record lows against the dollar. Those jitters eased later Tuesday.

Economists say Turkey’s central bank still needs to raise interest rates significantly to strengthen its currency. President Recep Tayyip Erdogan has ruled out that step.

Hooper, of Invesco, said it’s common for stocks to fall across emerging markets when one country is in trouble, but that reaction isn’t necessarily justified.

“What we’re seeing in emerging markets today is a repeat of what we’ve seen crisis after crisis for the last few decades,” Hooper said. “We can’t treat all emerging markets the same way.”

She said Argentina, like Turkey, is dealing with a plunging currency and political turmoil. But most of Turkey’s problems are specific to that country and other emerging markets like Mexico are likely to recover.

Bond prices moved lower. The yield on the 10-year Treasury note rose to 2.90 percent from 2.88 percent.

Cigna and Express Scripts both rose after billionaire investor Carl Icahn said he’s ending his campaign to block the deal. He had urged Cigna shareholders to vote against the $52 billion acquisition of Express Scripts and said the price was far too high.

Health insurer Cigna added 1.9 percent to $185.30 and Express Scripts, a pharmacy benefits manager, picked up 2.4 percent to $86.

Consumer credit company Synchrony Financial rose 2.8 percent to $30.01 after it said it extended a contract to manage credit card programs for home improvement retailer Lowe’s. Lowe’s gained 1.3 percent to $98.40.

Benchmark U.S. crude slipped 0.2 percent to $67.04 per barrel in New York. Brent crude, used to price international oils, dipped 0.2 percent to $72.46 per barrel in London.

Gold added 0.2 percent to $1,200.70 an ounce. Silver rose 0.5 percent to $15.05 an ounce. Copper fell 1.8 percent to $2.68 a pound following weak economic reports from China. Growth in factory output, consumer spending and retail sales in July were slower than expected.

Wholesale gasoline picked up 1 percent to $2.03 a gallon. Heating oil lost 0.4 percent to $2.13 a gallon. Natural gas rose 1 percent to $2.96 per 1,000 cubic feet.

The dollar rose to 111.22 yen from 110.69 yen. The euro fell to $1.1339 from $1.1394.

Germany’s DAX rose less than 0.1 percent. The CAC 40 in France fell 0.2 percent and Britain’s FTSE 100 lost 0.4 percent.

Tokyo’s Nikkei 225 added 2.3 percent. Hong Kong’s Hang Seng declined 0.7 percent while the Kospi in Seoul advanced 0.5 percent.


----------



## bigdog

https://www.usnews.com/news/busines...mostly-lower-despite-easing-fears-over-turkey

*Stocks Tumble as Investors Fret About China's Growth*
Global stock indexes fell sharply as investors worried about economic growth, especially in China. Technology stocks and oil and metals prices skidded.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Deepening worries about global economic growth, particularly in China, set off a rout in riskier assets including technology stocks, copper and crude oil Wednesday. U.S. retailers took a drubbing after Macy's reported weaker sales.

An unexpected drop in profits for Chinese tech giant Tencent surprised investors and added to some recent concerns about the health of China's economy. Tencent, a gaming and messaging company, and it's the most valuable technology company in China.

Earlier this week, reports on growth in factory output, consumer spending and retail sales in China were all slower than expected.

Large technology companies including Alibaba and Baidu of China and U.S. tech giants including Facebook and Microsoft fell.

Oil prices sank and copper plunged to its lowest price in a year as investors worried about the health of the global economy. The S&P 500 index had its biggest decline since late June while traditionally safe investments like bonds and high-dividend stocks rose.

"This year we've seen slower growth. Everyone expected that," said Kate Warne, an investment strategist for Edward Jones. "Over the last couple of months it looks like growth has been slower than everyone expected."

The S&P 500 slid 21.59 points, or 0.8 percent, to 2,818.37. Earlier it fell as much as 1.3 percent.

The Dow Jones Industrial Average fell 137.51 points, or 0.5 percent, to 25,162.41. The Nasdaq composite dropped 96.78 points, or 1.2 percent, to 7,774.12. The Russell 2000 index of smaller-company stocks sank 21.91 points, or 1.3 percent, to 1,670.67.

Jefferies & Co. analyst Karen Chan said Tencent's revenue was also disappointing, mostly because of weak results from its mobile gaming business.

Tencent's stock fell 3.6 percent in Hong Kong. The U.S.-listed shares of online retailer JD.com fell 4.5 percent to $32.36 and web search company Baidu gave up 1.3 percent to $213.47.

U.S. crude sagged 3 percent to $65.01 a barrel in New York and Brent crude, the standard for international oil prices, lost 2.3 percent to $70.76 a barrel in London.

Copper tumbled 4.5 percent to $2.56 a pound, its lowest price in more than a year.

Copper is considered an important economic indicator because of its uses in construction and power generation, and copper futures have fallen more than 20 percent since they hit an annual high of $3.30 a pound in early June.

Macy's plunged 15.9 percent to $35.15 after reporting that its sales slowed in the second quarter. Kohl's shed 5.8 percent to $74.39.

Retailers have struggled for years as investors worried about the growing threat of Amazon and other online shopping options. Wednesday's losses interrupted a huge rebound for the stocks in 2018.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.86 percent from 2.89 percent.

Banks fell because of a sharp drop in interest rates, which make mortgage and other loans less profitable. High-dividend companies like utilities and phone companies did better than the rest of the market. Investors often treat them as an alternative to bonds and buy them when yields fall.

Turkey's currency stabilized and rose after authorities sought to ease liquidity problems in the banking system. But Turkey imposed $500 million in tariffs on U.S. goods as tensions between the countries increased.

There is also no sign that Turkey's president will let the central bank raise interest rates, which economists say it should do urgently to support the currency.

The Turkish ISE National 100 index slumped 3.4 after a gain of 0.8 percent Tuesday. Indexes in other emerging markets including Brazil and Russia skidded as well.

Wine and beer maker Constellation Brands is ramping up its investment in cannabis company Canopy Growth by buying $4 billion in stock. Canopy shares soared 30.4 percent to $32.11 while Constellation Brands skidded 6.1 percent to $208.27.

Tesla slipped again after Fox Business reported that the Securities and Exchange Commission subpoenaed documents from the electric car company as a previously-reported inquiry into the company intensifies.

CEO Elon Musk tweeted last week that he was considering taking the company private and had secured funding to do so. At least two lawsuits have been also filed over that tweet. The stock spiked after Musk's message but has surrendered that gain. On Wednesday it fell 2.6 percent to $338.69.

Germany's DAX fell 1.6 percent and the French CAC 40 lost 1.8 percent. In Britain, the FTSE 100 retreated 1.5 percent.

Japan's Nikkei 225 index fell 0.7 percent and in Hong Kong, the Hang Seng dropped 1.6 percent. South Korea's markets were closed for a holiday.

In other commodities trading, gold lost 1.3 percent to $1,185 an ounce. Silver fell 4 percent to $14.45 an ounce.

Wholesale gasoline fell 1.8 percent to $2 a gallon and heating oil lost 1.8 percent to $2.09 a gallon. Natural gas dipped 0.6 percent to $2.94 per 1,000 cubic feet.

The dollar fell to 110.57 yen from 111.22 yen. The euro rose to $1.1346 from $1.1339.


----------



## bigdog

https://www.usnews.com/news/busines...s-slide-as-investors-fret-over-chinas-economy

*Stocks March Higher on Growing Hopes for China Trade Talks*
US stocks jump as China prepares to resume trade discussions with the U.S., the first negotiations in month.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks jumped Thursday as China and the U.S. said they will hold their first trade discussions in months, a potential sign of progress toward ending their trade war.

China will send a trade envoy to Washington later this month in a new attempt to end the trade dispute before it causes major damage to the global economy. The two sides haven't talked since early June. Energy and metals prices and shares of industrial companies turned higher.

Walmart soared after reporting its strongest growth in sales in more than a decade. Other companies that make and sell basic necessities also rose.

Jason Draho, the head of asset allocation for UBS, said investors are eager for the two countries to start making progress and resolve their differences. He added that China may be changing course because its economy has slowed.

"The data we've seen from China recently has showed slowing growth," he said. "It's possible they decided 'OK, we need to take a different approach' and come to the table offering a little more."

The S&P 500 index climbed 22.32 points, or 0.8 percent, to 2,840.69. The Dow Jones Industrial Average jumped 396.32 points, or 1.6 percent, to 25,558.73 as Walmart and Boeing made big gains. The Nasdaq composite rose 32.41 points, or 0.4 percent, to 7,806.52.

The Russell 2000 index of smaller-company stocks added 15.09 points, or 0.9 percent to 1,685.75.

China and the U.S. have been in conflict for months over issues including Beijing's technology policy and its trade surplus with the U.S. After the latest round of talks failed to produce much progress, both countries put taxes on $34 billion in each other's imports.

Those tariffs are set to rise next week, and both countries have threatened even larger increases as early as September.

Walmart posted its biggest gain in more than a decade in sales at stores open at least a year, and its online revenue grew 40 percent, a faster pace than it reported in the first quarter. The stock jumped 9.3 percent to $98.64, which wiped out its losses from earlier this year.

Other retailers and consumer goods companies also edged higher. Target added 1.7 percent to $82.07 and Procter & Gamble rose 1.7 percent to $83.69 while McDonald's climbed 1.2 percent to $161.73.

Banks rallied as interest rates increased. Bond prices turned lower again. The yield on the 10-year Treasury note rose to 2.87 percent from 2.85 percent.

Oil prices were steady after a sharp drop a day earlier. U.S. crude inched up 0.7 percent to settle at $65.46 a barrel in New York. Brent crude, the standard for international oil prices, picked up 0.9 percent to $71.43 per barrel.

In other energy trading, wholesale gasoline slipped 0.5 percent to $1.99 a gallon, heating oil rose 0.3 percent to $2.10 a gallon, and natural gas fell 1.1 percent to $2.91 per 1,000 cubic feet.

Metals prices also turned higher. Gold dipped 0.1 percent to $1,184 an ounce. Silver rose 1.8 percent to $14.71 an ounce. Copper added 2.2 percent to $2.62 a pound. That made up for much of Wednesday's loss, but copper prices are still down 20 percent since early June.

Stocks have swung wildly over the last week. Thursday marked the Dow's largest gain since April. The day before that, stocks took their biggest loss in six weeks.

Global markets slumped Friday and Monday as investors worried about Turkey's currency crisis, then rebounded Tuesday only to fall again Wednesday on rising concerns about China's economic growth.

J.C. Penney tumbled 27 percent to $1.76 after it took a bigger loss than analysts expected and reported weaker sales. The chain also cut its forecasts for the year again. Dillard's dropped 8.7 percent to $75.80 after its report.

Other than Penney, most department store stocks have jumped this year. They dropped Wednesday after Macy's said its sales growth slowed during the second quarter.

Macy's inched up 1.9 percent to $35.81 after a 16 percent plunge the day before. Nordstrom and Kohl's also managed small gains.

Symantec rose 4.6 percent to $19.41 after the activist investment firm Starboard Value disclosed an investment in the company and said it plans to nominate five directors for spots on Symantec's board of directors.

Symantec said it has been talking to Starboard for the past several weeks and is evaluating the candidates it nominated.

Chipotle lost 4.4 percent to $502.70 after Ohio heath officials said tests from a Chipotle location came back positive for an illness that occurs when food is left at unsafe temperatures.

Teva Pharmaceutical Industries jumped 7.3 percent to $24.11 after U.S. health officials approved its generic version of EpiPen, the emergency allergy medication made by Mylan. The injections are stocked by schools and parents to treat allergic reactions to food and bug bites.

The dollar rose to 110.88 yen from 110.57 yen. The euro rose to $1.1365 from $1.1346.

Germany's DAX added 0.6 percent and in France the CAC 40 rose 0.8 percent. Britain's FTSE 100 rallied 0.8 percent.

Japan's Nikkei 225 index fell 0.1 percent and the Hang Seng in Hong Kong lost 0.8 percent. South Korea's Kospi reopened from a holiday and tumbled 0.8 percent.


----------



## bigdog

https://www.usnews.com/news/busines...s-gain-on-growing-hopes-for-china-trade-talks

*Stocks Jump as Hopes Rise for Progress on China Trade Talks*
US stocks rise at the finish of trading as investors hope for more progress in trade talks between the US and China.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks rose late in the day Friday as investors welcomed signs of progress in resolving the trade dispute between the U.S. and China. The Wall Street Journal reported that the countries hope to have a resolution by November.

Industrial, health care and basic materials companies made some of the biggest gains. The report came a day after China said it will send an envoy to Washington for the first talks between the countries since early June.

Marina Severinovsky, an investment strategist at Schroders, said stocks could jump if the U.S. and China make real progress toward a trade agreement. But stocks in emerging markets might make even bigger gains.

"The rally that could come, if there is a better outcome, would be in emerging markets," she said. "China has suffered pretty greatly ... the U.S. has held up pretty well."

The late gains came in spite of weak results for several chipmakers. Electric car maker Tesla took its biggest drop in two years on reports of a wider government investigation into the company and concerns about CEO Elon Musk's health.

The S&P 500 index rose 9.44 points, or 0.3 percent, at 2,850.13. The Dow Jones Industrial Average added 110.59 points, or 0.4 percent, to 25,669.32. The Nasdaq composite edged up 9.81 points, or 0.1 percent, to 7,816.33. The Russell 2000 index of smaller-company stocks gained 7.19 points, or 0.4 percent, to 1,692.95.

The Wall Street Journal cited officials in both the U.S. and China as it said negotiators want to end the trade war before U.S. President Donald Trump and Chinese President Xi Jinping meet at multilateral events in November.

Industrial companies made some of the biggest gains after agricultural equipment maker Deere posted stronger than expected sales. Its stock rose 2.4 percent to $140.59.

Construction equipment maker Caterpillar rose 2.3 percent to $139.34 and engine maker Paccar added 2.3 percent to $67.16.

Chipmakers fell after two companies gave weaker forecasts for the third quarter. Nvidia said it no longer expects much revenue from products used in mining digital currencies, and its stock fell 4.9 percent to $244.82. Applied Materials slumped 7.7 percent to $43.77.

While big names like Netflix, Facebook and Amazon slipped, Apple led technology companies slightly higher overall. Apple stock rose 2 percent to $217.58.

Nordstrom jumped 13.2 percent to $59.18 after raising its annual profit and sales forecasts and posting better earnings and sales than analysts expected. It's been a mostly difficult week for department stores as Macy's and J.C. Penney both plunged after issuing their quarterly reports.

The S&P 500 finished this week with a solid gain of 0.6 percent, but it took a difficult path to get there. Stocks fell early this week due to worries about Turkey's currency crisis, and later investors fretted about China's economic growth.

The recovery started Thursday as investors hoped the upcoming talks between the U.S. and China will help end the impasse that has resulted in higher tariffs from both countries.

The Hang Seng index in Hong Kong has fallen 13 percent since early June as the dispute has dragged on, and other emerging market indexes have also taken a hit. The S&P 500 has risen over that time.

Tesla was hit with a series of reports that concerned shareholders. The Wall Street Journal reported that the Securities and Exchange Commission started investigating the electric car maker last year to determine if it made false statements about production of its Model 3 sedan.

The SEC is also reportedly looking into CEO Elon Musk's comment on Twitter about possibly taking the company private.

Tesla stock rose from about $345 a share to about $380 following Musk's tweet last week, which said Tesla could go private for $420 a share. On Friday it dropped 8.9 percent to $305.50.

Musk also gave an emotional interview to the New York Times, published Friday, about the stress he's experienced as the company tries to ramp up production. He said this year has been "excruciating" and described working up 120 hours a week, raising concerns about his health.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.86 percent from 2.87 percent.

U.S. crude picked up 0.7 percent to $65.91 a barrel in New York. Brent crude, the standard for international oil prices, added 0.6 percent to $71.83 per barrel in London.

Wholesale gasoline dipped 0.3 percent to $1.98 a gallon. Heating oil inched up 0.1 percent to $2.10 a gallon. Natural gas rose 1.3 percent to $2.95 per 1,000 cubic feet.

Gold was little changed at $1,184.20 an ounce. Silver fell 0.6 percent to $14.63 an ounce. Copper added 0.5 percent to $2.63 a pound.

The dollar dipped to 110.60 yen from 110.88 yen. The euro rose to $1.1443 from $1.1365.

The German DAX lost 0.2 percent and France's CAC 40 fell 0.1 percent. The FTSE 100 in Britain was little changed.

Japan's Nikkei 225 index added 0.4 percent and Hong Kong's Hang Seng gained 0.4 percent. In South Korea, the Kospi gained 0.3 percent.

0794


----------



## bigdog

https://www.usnews.com/news/busines...ise-on-hope-for-progress-on-china-trade-talks

*Retailers, Airlines Lift US Stocks Higher, Extending Gains*
Retailers and airlines helped lift U.S. stocks broadly higher Monday, extending the market's gains from last week.

By ALEX VEIGA, AP Business Writer

Retailers and airlines helped lift U.S. stocks broadly higher Monday, extending the market's gains from last week.

Consumer-focused companies and industrial stocks grabbed most of the gains. Banks and health care stocks also rose. Energy companies climbed along with the price of U.S. crude oil.

Technology companies lagged the broader market, weighing down the Nasdaq composite index for much of the day.

The market's latest gains, while modest, added to what has been a mostly solid summer for stocks. The S&P 500, the market's benchmark index, has posted a weekly gain in six of the past seven weeks.

On Monday, the S&P 500 rose 6.92 points, or 0.2 percent, to 2,857.05. The Dow Jones Industrial Average climbed 89.37 points, or 0.3 percent, to 25,758.69.

The Nasdaq composite recovered from a morning slide, adding 4.68 points, or 0.1 percent, to 7,821.01. The Russell 2000 index of smaller-company stocks also rebounded, picking up 5.75 points, or 0.3 percent, to 1,698.69.

Stocks got off to a mixed start as investors weighed the latest corporate earnings and deal news.

Since last week investors have been feeling cautiously optimistic about the prospects for an end to the trade dispute between the U.S. and China, which has led to costly, dueling tariffs between the two nations and caused uncertainty in the markets. Hopes rose late last week on news that China will send an envoy to Washington this month to discuss a way out of the standoff before President Donald Trump and Chinese President Xi Jinping meet in November.

"Is there motivation to get it resolved before November? Sure, but it's not going to be resolved any time soon," said Tom Martin, senior portfolio manager with Globalt Investments. "It's going to continue to be an overhang and there's going to be a lot of posturing before any real deals are reached."

On Monday, investors bid up shares in consumer-focused companies, with several big department store chains leading the way. Macy's was the biggest gainer in the S&P 500, vaulting 6.1 percent to $38.21. Kohl's picked up 3.2 percent to $78.85, while Nordstrom rose 4 percent to $61.56. Gap gained 2.8 percent to $32.17.

Airlines climbed as part of a broader rise in industrial sector stocks. American Airlines Group jumped 5.8 percent to $39.99, while United Continental gained 3.9 percent to $85.22. Southwest Airlines rose 3.3 percent to $61.63.

Estee Lauder climbed 3.4 percent to $140.56 after the cosmetics company reported quarterly results that topped Wall Street's forecasts. The company benefited from better-than-expected global sales, particularly in Asia.

Traders also welcomed the latest corporate deal news.

SodaStream jumped 9.4 percent to $142.11 after PepsiCo agreed to buy the Israeli maker of carbonated drink machines for $3.2 billion. China Biologic Products Holdings surged 8.7 percent to $100 after the company received a takeover offer from an investor group for $118 a share in cash.

Technology stocks, which have outperformed other sectors this year, slumped Monday. Intel fell 1.3 percent to $46.50.

"The biggest thing you're seeing is the continued divergence between growth and value (stocks)," said Martin, noting that investors have lately been rotating portfolios to favor value stocks more than growth stocks, such as technology, which finished slightly lower Monday.

"The valuation of technology stocks is high, relative to other areas," Martin said.

U.S. benchmark crude rose 0.8 percent to settle at $66.43 per barrel in New York. Brent crude, the standard for international oil prices, added 0.5 percent to close at $72.21 per barrel in London.

The pickup in oil prices helped lift energy sector stocks. Baker Hughes gained 3.2 percent to $32.01.

Bond prices rose. The yield on the 10-year Treasury fell to 2.82 percent from 2.87 percent late Friday.

The dollar fell to 110.23 yen from 110.60 yen late Friday. The euro strengthened to $1.1467 from $1.1443.

Gold rose 0.9 percent to $1,194.60 an ounce. Silver added 0.3 percent to $14.67 an ounce. Copper gained 1.5 percent to $2.69 a pound.

In other energy futures trading, heating oil rose 0.7 percent to $2.11 a gallon. Wholesale gasoline gained 1.7 percent to $2.02 a gallon. Natural gas fell 0.2 percent to $2.94 per 1,000 cubic feet.

Major indexes in Europe finished higher. Germany's DAX added 1 percent, while France's CAC 40 rose 0.7 percent. Britain's FTSE 100 gained 0.4 percent.

In Asia, Japan's benchmark Nikkei 225 gave up 0.3 percent. Australia's S&P/ASX 200 added 0.1 percent. South Korea's Kospi was little changed. Hong Kong's Hang Seng gained 1.4 percent. Shares also rose in Taiwan.


----------



## bigdog

https://www.usnews.com/news/busines...gain-despite-doubts-over-us-china-trade-talks

*S&P 500 Touches All-Time High as Earnings Drive Stock Gains*
The S&P 500 index briefly traded at an all-time high Tuesday just as the U.S. stock market's bull run came closer to becoming the longest on record.

By ALEX VEIGA, AP Business Writer

The S&P 500 index briefly traded at an all-time high Tuesday just as the U.S. stock market's bull run came closer to becoming the longest on record.

The market's benchmark index eked out a slight gain, closing a little below the high mark it set in January. The rally pushed the Russell 2000 index of smaller-company stocks to a record high.

The current bull market, which began in 2009, is on track to become the longest in history on Wednesday, surpassing the bull run of the 1990s.

Tuesday's gains were driven by strong earnings by homebuilders, retailers and other companies.

"That we got to these levels in January was a big surprise, more so than we're back there now," said Bob Doll, chief equity strategist at Nuveen Asset Management. "We've had a mildly higher market after the correction on the back of these amazing earnings."

The S&P 500 rose 5.91 points, or 0.2 percent, to 2,862.96. The Dow Jones Industrial Average gained 63.60 points, or 0.2 percent, to 25,822.29. The Nasdaq composite added 38.17 points, or 0.5 percent, to 7,859.17. The Russell 2000 picked up 19.35 points, or 1.1 percent, to 1,718.05. It's last all-time high was set June 20th.

Shortly before 1 p.m. Eastern Time, the S&P 500 briefly crossed above its latest closing high of 2,872 set on Jan. 26. The market took a steep plunge immediately after that, in early February, and has been mostly clawing higher since then, with some bumps along the way, thanks to a still-recovering economy and a boom in corporate profits.

Stocks have been buffeted by concerns about mounting trade tensions this spring and summer, particularly with China. Signs of potential progress have helped stocks rally in recent weeks. S&P Dow Jones Indices, which compiles the S&P 500, says that on Wednesday, the current bull market become the longest in history.

"Earnings are still going to carry the market higher, but the trade issue holds us back for stocks keeping up with earnings," Doll said.

Investors have had much to cheer about when it comes to company earnings this year, and the second-quarter reporting period has been no exception. Of the 93 percent of the companies in the S&P 500 that have reported quarterly results, 62 percent delivered earnings and revenue that beat analysts' forecasts, according to S&P Global Market Intelligence.

"Earnings season was phenomenal and that removed one worry," said Craig Birk, chief investment officer at Personal Capital. "When people are just looking at companies and just looking at economic fundamentals, they feel good about things."

Investors cheered the latest batch of strong company earnings Tuesday.

Traders sent homebuilder shares higher after Toll Brothers reported earnings that came in well ahead of what analysts were expecting. The luxury builder vaulted 13.8 percent to $39.52. Other homebuilders also got a boost. Lennar gained 4.2 percent to $53.26, while PulteGroup added 5.5 percent to $29.67.

TJX also delivered quarterly results that impressed investors, who sent shares in the operator of T.J. Maxx, Marshalls and other discount retail chains 4.7 percent higher to $106.46.

Medtronic gained 5.7 percent to $95.17 after the medical technology company's latest quarterly report card also beat Wall Street's projections.

Discount brokers fell sharply after CNBC reported that JPMorgan Chase will offer free online trading. ETrade fell 4.4 percent to $58.56. Charles Schwab lost 2.4 percent to $50.17. TD Ameritrade slumped 7.1 percent to $55.88.

J.M. Smucker fell 6.6 percent to $108.20 after the maker of Jif peanut butter, Crisco cooking oil and other products reported quarterly results that fell short of analysts' estimates. The company also trimmed its outlook for the year.

U.S. benchmark crude rose 1.4 percent to settle at $67.35 per barrel in New York. Brent crude, the standard for international oil prices, gained 0.6 percent to close at $72.63 per barrel in London.

Bond prices fell. The yield on the 10-year Treasury rose to 2.84 percent from 2.82 percent late Monday.

The dollar rose to 110.40 yen from 110.23 yen late Monday. The euro strengthened to $1.1574 from $1.1467.

Gold rose 0.5 percent to $1,200 an ounce. Silver added 0.7 percent to $14.77 an ounce. Copper gained 0.9 percent to $2.71 a pound.

In other energy futures trading, heating oil rose 0.5 percent to $2.12 a gallon. Wholesale gasoline gained 0.1 percent to $2.02 a gallon. Natural added 1.3 percent to $2.98 per 1,000 cubic feet.

Major indexes in Europe finished mostly higher. Germany's DAX added 0.4 percent, while France's CAC 40 climbed 0.5 percent. Britain's FTSE 100 slipped 0.3 percent.

In Asia, Japan's benchmark Nikkei 225 rose nearly 0.1 percent, while Australia's S&P/ASX 200 lost nearly 1 percent. South Korea's Kospi rose 1 percent. Hong Kong's Hang Seng climbed 0.6 percent. Shares were higher in Taiwan but fell in Singapore.


----------



## bigdog

https://www.usnews.com/news/busines...res-mixed-after-s-p-500-touches-all-time-high

*S&P 500 Marks Longest Bull Run on Mixed Day for Indexes*
The bull market in U.S. stocks is now the longest on record.

By ALEX VEIGA, AP Business Writer

The bull market in U.S. stocks is now the longest on record.

The current bull run on Wall Street became the longest in history on Wednesday at 3,453 days, beating the bull market of the 1990s that ended in the dot-com collapse in 2000.

That's how long the benchmark S&P 500 index of major U.S. stocks has gone without a drop of 20 percent or more, the traditional definition of a bear market.

Despite its long duration, this bull market actually wasn't as big in terms of overall gains as the 1990s one.

The milestone arrived on a listless day of trading that left the S&P 500 with a slight loss. Gains by technology and energy companies outweighed losses in industrial stocks, banks and other sectors.

"This expansion is alive and well, this bull market is alive and well," said Jason Pride, chief investment officer for private clients at Glenmede. "Valuations are definitely higher than we tend to like to see them, but they're actually not that atypical for the back part of an economic expansion."

The S&P 500 index finished with a loss of 1.14 points, or 0.04 percent, at 2,861.82. The Dow Jones Industrial Average slid 88.69 points, or 0.3 percent, to 25,733.60. The Nasdaq composite gained 29.92 points, or 0.4 percent, to 7,889.10.

The Russell 2000 index of smaller-company stocks picked up 4.50 points, or 0.3 percent, to 1,722.54. The Russell marked its second straight all-time high.

Gainers finished with a slight edge on decliners on the New York Stock Exchange.

The bull market for U.S. stocks began in March 2009 and has now lasted nine years, five months and 13 days, a record that few would have predicted when the market struggled to find its footing after a 50 percent plunge during the financial crisis.

The long rally has added trillions of dollars to household wealth, helping the economy, and stands as a testament to the ability of large U.S. companies to squeeze out profits in tough times and confidence among investors as they shrugged off repeated crises and kept buying.

Despite its longevity, the bull market lags others on the basis of magnitude, or the cumulative gain it has generated for investors.

As of Tuesday, the S&P 500 had climbed 323 percent over the current bull market. By comparison, the bull market that ran through much of the 1990s and ended in March 2000 led to a 417 percent gain for the S&P 500, according to S&P Dow Jones Indices.

"While it's long in time, it could still go on longer because, magnitude-wise, it's just not that far (along)," Pride said.

Despite the milestone, investors mainly kept an eye on company earnings reports and the release of the minutes from the Federal Reserve's most recent meeting of policymakers earlier this month.

The minutes of their discussions revealed deepening concerns that escalating trade wars could hurt the economy. The minutes also underscored expectations that the central bank is likely to increase its policy rate at its next meeting in September. Many economists believe another rate hike will follow in December.

The afternoon release of the minutes didn't have much of an impact on the market, which continued to trade in a narrow range.

Later this week, central bankers, including new Fed chief Jerome Powell, gather in Jackson Hole, Wyoming, an annual symposium that has often generated market-moving news.

Stocks traded mostly in a narrow range for much of the day Wednesday.

Technology sector stocks reversed course after an early slide. Nvidia gained 3.8 percent to $262.82.

Traders also bid up shares in a couple of big retailers that reported quarterly results that topped Wall Street's expectations. Target climbed 3.2 percent to $85.94, while Lowe's jumped 5.8 percent to $105.52.

Industrial stocks took some of the heaviest losses. American Airlines Group lost 2.8 percent to $39.19.

U.S. benchmark crude climbed 3.1 percent to $67.87 per barrel in New York. Brent crude, the standard for international oil prices, dipped 0.1 percent to $74.70 per barrel in London.

The pickup in oil prices helped boost energy sector stocks. Marathon Oil gained 3.3 percent to $20.87.

In other energy futures trading, heating oil rose 2.1 percent to $2.17 a gallon. Wholesale gasoline gained 2.5 percent to $2.07 a gallon. Natural gas dropped 0.8 percent to $2.96 per 1,000 cubic feet.

Bond prices rose. The yield on the 10-year Treasury fell to 2.82 percent from 2.84 percent late Tuesday.

The dollar rose to 110.57 yen from 110.40 yen late Tuesday. The euro strengthened to $1.1589 from $1.1574.

Gold rose 0.3 percent to $1,203.30 an ounce. Silver fell 0.1 percent to $14.75 an ounce. Copper slid 0.7 percent to $2.69 a pound.

In Europe, Germany's DAX was flat, while France's CAC 40 edged up 0.2 percent. The FTSE 100 index of leading British shares added 0.1 percent. In Asia, Japan's benchmark Nikkei 225 closed 0.6 percent higher. Australia's S&P/ASX 200 lost 0.3 percent. South Korea's Kospi rose 0.1 percent. Hong Kong's Hang Seng added 0.6 percent.


----------



## Skate

bigdog said:


> View attachment 88993
> 
> 
> https://www.usnews.com/news/busines...res-mixed-after-s-p-500-touches-all-time-high
> 
> *S&P 500 Marks Longest Bull Run on Mixed Day for Indexes*
> The bull market in U.S. stocks is now the longest on record.
> 
> By ALEX VEIGA, AP Business Writer
> 
> The bull market in U.S. stocks is now the longest on record.
> 
> The current bull run on Wall Street became the longest in history on Wednesday at 3,453 days, beating the bull market of the 1990s that ended in the dot-com collapse in 2000.
> 
> That's how long the benchmark S&P 500 index of major U.S. stocks has gone without a drop of 20 percent or more, the traditional definition of a bear market.
> 
> Despite its long duration, this bull market actually wasn't as big in terms of overall gains as the 1990s one.
> 
> The milestone arrived on a listless day of trading that left the S&P 500 with a slight loss. Gains by technology and energy companies outweighed losses in industrial stocks, banks and other sectors.
> 
> "This expansion is alive and well, this bull market is alive and well," said Jason Pride, chief investment officer for private clients at Glenmede. "Valuations are definitely higher than we tend to like to see them, but they're actually not that atypical for the back part of an economic expansion."
> 
> The S&P 500 index finished with a loss of 1.14 points, or 0.04 percent, at 2,861.82. The Dow Jones Industrial Average slid 88.69 points, or 0.3 percent, to 25,733.60. The Nasdaq composite gained 29.92 points, or 0.4 percent, to 7,889.10.
> 
> The Russell 2000 index of smaller-company stocks picked up 4.50 points, or 0.3 percent, to 1,722.54. The Russell marked its second straight all-time high.
> 
> Gainers finished with a slight edge on decliners on the New York Stock Exchange.
> 
> The bull market for U.S. stocks began in March 2009 and has now lasted nine years, five months and 13 days, a record that few would have predicted when the market struggled to find its footing after a 50 percent plunge during the financial crisis.
> 
> The long rally has added trillions of dollars to household wealth, helping the economy, and stands as a testament to the ability of large U.S. companies to squeeze out profits in tough times and confidence among investors as they shrugged off repeated crises and kept buying.
> 
> Despite its longevity, the bull market lags others on the basis of magnitude, or the cumulative gain it has generated for investors.
> 
> As of Tuesday, the S&P 500 had climbed 323 percent over the current bull market. By comparison, the bull market that ran through much of the 1990s and ended in March 2000 led to a 417 percent gain for the S&P 500, according to S&P Dow Jones Indices.
> 
> "While it's long in time, it could still go on longer because, magnitude-wise, it's just not that far (along)," Pride said.
> 
> Despite the milestone, investors mainly kept an eye on company earnings reports and the release of the minutes from the Federal Reserve's most recent meeting of policymakers earlier this month.
> 
> The minutes of their discussions revealed deepening concerns that escalating trade wars could hurt the economy. The minutes also underscored expectations that the central bank is likely to increase its policy rate at its next meeting in September. Many economists believe another rate hike will follow in December.
> 
> The afternoon release of the minutes didn't have much of an impact on the market, which continued to trade in a narrow range.
> 
> Later this week, central bankers, including new Fed chief Jerome Powell, gather in Jackson Hole, Wyoming, an annual symposium that has often generated market-moving news.
> 
> Stocks traded mostly in a narrow range for much of the day Wednesday.
> 
> Technology sector stocks reversed course after an early slide. Nvidia gained 3.8 percent to $262.82.
> 
> Traders also bid up shares in a couple of big retailers that reported quarterly results that topped Wall Street's expectations. Target climbed 3.2 percent to $85.94, while Lowe's jumped 5.8 percent to $105.52.
> 
> Industrial stocks took some of the heaviest losses. American Airlines Group lost 2.8 percent to $39.19.
> 
> U.S. benchmark crude climbed 3.1 percent to $67.87 per barrel in New York. Brent crude, the standard for international oil prices, dipped 0.1 percent to $74.70 per barrel in London.
> 
> The pickup in oil prices helped boost energy sector stocks. Marathon Oil gained 3.3 percent to $20.87.
> 
> In other energy futures trading, heating oil rose 2.1 percent to $2.17 a gallon. Wholesale gasoline gained 2.5 percent to $2.07 a gallon. Natural gas dropped 0.8 percent to $2.96 per 1,000 cubic feet.
> 
> Bond prices rose. The yield on the 10-year Treasury fell to 2.82 percent from 2.84 percent late Tuesday.
> 
> The dollar rose to 110.57 yen from 110.40 yen late Tuesday. The euro strengthened to $1.1589 from $1.1574.
> 
> Gold rose 0.3 percent to $1,203.30 an ounce. Silver fell 0.1 percent to $14.75 an ounce. Copper slid 0.7 percent to $2.69 a pound.
> 
> In Europe, Germany's DAX was flat, while France's CAC 40 edged up 0.2 percent. The FTSE 100 index of leading British shares added 0.1 percent. In Asia, Japan's benchmark Nikkei 225 closed 0.6 percent higher. Australia's S&P/ASX 200 lost 0.3 percent. South Korea's Kospi rose 0.1 percent. Hong Kong's Hang Seng added 0.6 percent.




@bigdog - sometimes you are the bearer of good news & sometimes the bearer of bad news but your posts are highly informative that I appreciate reading every day.

*The Takeaway - from todays post.*
I was excited when the DJIA hit 20,000 points & now even more excited at the strength & length of the U.S. Bull market in turbulent times. As you know Trading is global & interlinked - when the U.S. markets (the benchmark) is doing well it bodes well for us.

*Confidence Builder*
The bull market in U.S. stocks is now the longest on record beating the bull market of the 1990s that ended in the dot-com collapse in 2000. The bull market for U.S. stocks began in March 2009 and has now lasted nine years, five months and 13 days, a record that few would have predicted when the market struggled to find its footing after a 50 percent plunge during the financial crisis.

*Wealth Creation*
The long rally has added trillions of dollars to household wealth in the U.S.A, helping the economy, and stands as a testament to the ability of large U.S. companies to squeeze out profits in tough times and confidence among investors as they shrugged off repeated crises and kept buying.

*Concerns*
The minutes from this month’s U.S. Federal Reserve has just been released and it revealed their deepening concerns that escalating trade wars could hurt the U.S. economy.

*Update*
The concerns relating to those minutes are relatively old news as U.S. & China trade negotiations have a more conciliatory tone which the markets like.

Skate.


----------



## bigdog

https://www.usnews.com/news/busines...-markets-mixed-ahead-of-us-china-tariff-hikes

*Slide in Banks, Energy Firms Weighs on US Stock Indexes*
U.S. stocks capped another day of listless trading with a slight loss Thursday as a slide in banks and industrial companies offset solid gains for the technology sector.

By ALEX VEIGA, AP Business Writer

U.S. stocks capped another day of listless trading with a slight loss Thursday as a slide in banks and industrial companies offset solid gains for the technology sector.

Homebuilders also declined following new data showing sales of new U.S. homes slumped in July. U.S. crude oil prices also ended essentially flat.

Investors had their eye on the latest developments in the U.S.-China trade dispute as both nations held their first high-level talks in two months. Traders also were looking ahead to Friday's gathering of central bankers, including Federal Reserve Chairman Jerome Powell, in Jackson Hole, Wyoming, an annual symposium that has often generated market-moving news.

"It's been a fairly quiet day," said Paul Springmeyer, head of investments at U.S. Bank Wealth Management. "There's obviously some reservation about what's going to come out from Jackson Hole, from Chairman Powell."

The S&P 500 fell 4.84 points, or 0.2 percent, to 2,856.98. The Dow Jones Industrial Average slid 76.62 points, or 0.3 percent, to 25,656.98. The Nasdaq composite lost 10.64 points, or 0.1 percent, to 7,878.46. The Russell 2000 index of smaller-company stocks gave up 5.49 points, or 0.3 percent, to 1,717.05.

Stocks spent much of the day hovering just below their prior day closing levels.

Markets showed little reaction to the latest round of dueling tariffs between the U.S. and China. The countries imposed 25 percent tariffs on $16 billion of each other's goods Thursday, including automobiles and factory equipment. The increases were announced previously.

Beijing has rejected U.S. demands to scale back technology development plans that its trading partners say violate Chinese market-opening pledges and that American officials worry might erode the United States' industrial leadership.

Investors came into this week feeling cautiously optimistic that the talks may lead to an end to the U.S.-China trade dispute. The market has mostly shrugged off the trade uncertainty in recent weeks, focusing instead on another strong quarter of corporate earnings growth. Earnings at S&P 500 companies have surged 23 percent in the first half of this year versus the same period a year earlier, according to S&P Global Market Intelligence.

"The market is waiting to see the effect of the tariffs," said JJ Kinahan, chief market strategist for TD Ameritrade. "It's hard to argue what's going on with earnings."

Of more immediate interest for the market is Friday's annual gathering of central bankers. Powell was scheduled to deliver a keynote speech that traders are sure to scrutinize for signs of Fed views on Turkey's currency crisis and U.S.-China trade tensions. If Powell sounds confident, investors would likely conclude the Fed will keep gradually raising rates.

Banks and other financial stocks took some of the biggest losses Thursday. Charles Schwab declined 1.5 percent to $50.17. Industrial stocks also fell. Caterpillar lost 2 percent to $136.79.

New housing data also weighed on stocks. The Commerce Department said sales of new U.S. homes slumped 1.7 percent in July, the second monthly decline in a row. Toll Brothers led a slide in homebuilder shares, losing 2.8 percent to $37.29.

"The backbone of the progress we've seen this year so far in the market really is an indication of how strong the economy is in general," Springmeyer said. "Housing has probably been the one single piece of economic information to come out recently that has been somewhat disappointing."

Hormel Foods fell 3.1 percent to $37.33 after the Spam maker cut its sales outlook, partly because of uncertain trade conditions. Other packaged foods companies also declined. J.M. Smucker lost 0.9 percent to $104.45. Campbell Soup slid 1.5 percent to $40.61.

Investors bid up shares in companies that delivered solid quarterly results or outlooks.

Synopsys climbed 6.4 percent to $100.75 after the maker of software used to test and develop chips topped Wall Street expectations in the third quarter.

Williams-Sonoma's latest results also impressed analysts. Shares in the home furnishings and cookware company jumped 16.1 percent to $72.66.

Technology companies led the gainers. Advanced Micro Devices vaulted 6.7 percent to $22.29.

Benchmark U.S. crude settled essentially flat at $67.83 per barrel in New York. Brent crude, used to price international oils, dipped 0.1 percent to $74.73 per barrel in London.

Bond prices were little changed. The yield on the 10-year Treasury held steady at 2.82 percent.

The dollar rose to 111.28 yen from 110.57 yen late Wednesday. The euro weakened to $1.1536 from $1.1589.

Gold fell 0.8 percent to $1,194 an ounce. Silver slid 1.4 percent to $14.54 an ounce. Copper dropped 0.6 percent to $2.68 a pound.

In other energy futures trading, heating oil rose 0.3 percent to $2.18 a gallon. Wholesale gasoline fell 0.4 percent to $2.06 a gallon. Natural gas gained 0.3 percent to $2.96 per 1,000 cubic feet.

Major indexes in Europe finished essentially flat. Germany's DAX dropped 0.2 percent while the CAC 40 in France was little changed. London's FTSE 100 slipped 0.1 percent.

In Asia, Tokyo's Nikkei 225 closed 0.2 percent higher, while Hong Kong's Hang Seng lost 0.5 percent. Seoul's Kospi gained 0.4 percent.


----------



## bigdog

https://www.usnews.com/news/busines...track-wall-st-weakness-as-eyes-on-fed-comment

*S&P 500, Nasdaq and Russell 2000 Close at Record Highs*
Wall Street ended a week of milestones with a few more Friday. S&P 500, other indexes close at all-time highs.

By ALEX VEIGA, AP Business Writer

Wall Street ended a week of milestones with a few more Friday.

The benchmark S&P 500 index closed at an all-time high, just two days after the current bull market in U.S. stocks became the longest in history. The Nasdaq composite and the Russell 2000 indexes also ended the day at all-time highs.

Technology companies, the best-performing sector in the market this year, accounted for much of the gains. The price of oil snapped a seven-week losing streak, finishing this week about 5 percent higher.

The rally capped another solid week for the stock market, which has been riding a wave of strong corporate earnings even amid uncertainty over simmering global trade tensions.

"It appears that the market is really focusing on fundamentals," said Rob Eschweiler, global investment specialist at J.P. Morgan Private Bank. "We're at the very tail end of earnings season and there's no other way to characterize the earnings season other than 'spectacular.'"

The S&P 500 index gained 17.71 points, or 0.6 percent, to 2,874.69. It has now finished with a weekly gain in seven out of the last eight weeks.

The Dow Jones Industrial Average rose 133.37 points, or 0.5 percent, to 25,790.35. The 30-company average is still below the high it set in January.

The Nasdaq added 67.52 points, or 0.9 percent, to 7,945.98. Its previous all-time high was set on July 25. The Russell 2000 index of smaller-company stocks picked up 8.62 points, or 0.5 percent, to 1,725.67. It also notched back-to-back all-time highs earlier this week.

Since entering a correction in early February, which is defined as a loss of 10 percent or more from a peak, the S&P 500 has mostly crawled higher, with some bumps along the way, thanks to a still-recovering economy and a boom in corporate profits.

More recently, stocks have been buffeted by concerns about mounting trade tensions this spring and summer, particularly with China. But investors have increasingly focused on strong corporate earnings growth.

Earnings at S&P 500 companies have surged 23 percent in the first half of this year versus the same period a year earlier, according to S&P Global Market Intelligence.

The string of all-time highs for the indexes underscore the resilience of the U.S. stock market's bull run, which began in 2009 and became the longest on record Wednesday.

Stocks were trading higher from the get-go Friday, then climbed further after investors weighed new remarks from Federal Reserve Chairman Jerome Powell.

Speaking at an annual conference of central bankers in Jackson Hole, Wyoming, Powell struck a measured tone about the economy and said the Fed plans to stick with a gradual pace of rate hikes.

Powell said the central bank recognizes the need to strike a careful balance between its mandates of maximizing employment and keeping price increases stable. And he noted that a gradual approach to rate hikes is the best way to navigate between the risks of raising rates too fast and "needlessly shortening the expansion" and moving too slowly and risking an overheated economy.

Powell added that while annual inflation has risen to near the Fed's 2 percent target rate, it doesn't seem likely to accelerate above that point. That suggests that Powell doesn't foresee a need for the Fed to step up its rate hikes. Next month, the Fed is widely expected to resume raising rates.

"The equity markets wanted to hear that slow-and-steady is the path, and I didn't hear anything to the contrary," Eschweiler said.

Investors continued to bid up technology sector stocks Friday. Video game publisher Activision Blizzard rose 4.1 percent to $74.09.

Shares in materials sector companies posted solid gains. Albemarle picked up 2.4 percent to $96.

Software maker Autodesk surged 15.3 percent to $157.20 after issuing a better-than-expected quarterly report and strong forecasts.

Some retailers fell after reporting disappointing earnings or outlooks.

Gap slumped 8.6 percent to $29.65 after the clothing chain said sales at Gap stores fell in the second quarter compared to a year earlier. Hibbett Sports sank 30.2 percent to $20.53 after the retailer cut its fiscal year profit and sales forecasts following a weak second quarter.

Benchmark U.S. crude gained 1.3 percent to settle at $68.72 per barrel in New York. It snapped a seven-week losing streak, finishing this week about 5 percent higher. Brent crude, used to price international oils, rose 1.5 percent to close at $75.82 per barrel.

The latest increase in oil prices helped boost energy stocks. Concho Resources gained 2.7 percent to $137.99.

Bond prices rose. The yield on the 10-year Treasury fell to 2.81 percent from 2.82 percent late Thursday.

The dollar fell to 111.20 yen from 111.28 yen late Thursday. The euro strengthened to $1.1625 from $1.1536.

Gold rose 1.6 percent to $1,213.30 an ounce. Silver gained 1.7 percent to $14.79 an ounce. Copper climbed 1.7 percent to $2.72 a pound.

In other energy futures trading, heating oil rose 1.2 percent to $2.20 a gallon. Wholesale gasoline gained 0.9 percent to $2.08 a gallon. Natural fell 1.6 percent to $2.92 per 1,000 cubic feet.

Major stock indexes in Europe eked out gains Friday. Germany's DAX rose 0.2 percent, while the CAC 40 in France added 0.2 percent. The FTSE 100 index of leading British shares gained 0.2 percent.

In Asia, Japan's Nikkei 225 stock index closed 0.9 percent higher. The Kospi in South Korea rose 0.5 percent. Hong Kong's Hang Seng lost 0.4 percent.

1202


----------



## bigdog

*British markets were closed for a summer bank holiday.
*
*ALL GREEN  today*







https://www.usnews.com/news/busines...tocks-rise-gripped-by-optimism-on-wall-street

*Stocks Rise as US, Mexico Announce Preliminary Trade Deal*
Stocks add to their record highs from last week, sending the Nasdaq composite index above 8,000 for the first time, as the White House says it has reached a preliminary agreement with Mexico on replacing NAFTA.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks posted solid gains on Monday after the White House said it reached a preliminary agreement with Mexico on replacing NAFTA. The Nasdaq composite index topped 8,000 for the first time.

The trade deal is far from final and few details were made public during trading hours Monday, but investors were encouraged that the countries are working toward a resolution.

The U.S. still needs to reach an understanding with Canada, the third party in the accord and the second-largest trading partner for the U.S. Canada's NAFTA negotiator, Foreign Minister Chrystia Freeland, is scheduled to fly to Washington Tuesday to try to restart talks.

Automakers, which would stand to benefit from warmer trade relations between the U.S. and Mexico, rose sharply. Major exporters including chemical and industrial companies rose, and so did banks and technology companies.

"Most of this year has been a series of potentially negative events on trade, setting up barriers to trade," said Craig Birk, chief investment officer for Personal Capital. "The market is welcoming anything that's the opposite."

Birk said investors were glad to get some good news on trade even though talks on a NAFTA replacement will likely continue beyond the Congressional elections this fall and into 2019.

The S&P 500 index climbed 22.05 points, or 0.8 percent, to 2,896.74. The Dow Jones Industrial Average jumped 259.29 points, or 1 percent, to 26,049.64. The Nasdaq composite gained 71.92 points, or 0.9 percent, to 8,017.90. The Russell 2000 index of smaller-company stocks added 2.73 points, or 0.2 percent, to 1,728.41.

Among automakers, GM gained 4.8 percent to $37.69 and Ford rose 3.2 percent to $9.99.

Construction equipment maker Caterpillar rose 2.8 percent to $142.04 and chemicals maker DowDuPont gained 2.3 percent to $70.81.

Alphabet, Google's parent company, climbed 1.6 percent to $1,256.27. Online retailer Amazon rose 1.2 percent to $1,927.68.

Rising trade tensions are one reason the dollar has been climbing this year, and word that a revision of the NAFTA deal could be coming sent the dollar lower on Monday. The U.S. currency fell to 1.2965 Canadian dollars from 1.3029 late Friday and to 18.7338 Mexican pesos from 18.9249. The dollar also fell to 111.10 yen from 111.20 yen. The euro rose to $1.1680 from $1.1625.

The benchmark S&P 500 has risen for seven of the last eight weeks following strong corporate earnings and growing optimism the U.S. would work out its differences with several major trading partners. The S&P 500 is up 6.6 percent since the end of June, and, like the Nasdaq and Russell, it's trading at all-time highs.

Tesla fell 1.1 percent to $319.27 after CEO and top shareholder Elon Musk said over the weekend that the electric car maker will remain a publicly traded company. Musk wrote in a Friday blog post that he gave up on a plan to take the company private, partly because investors didn't support it.

Wall Street was stunned early this month when Musk tweeted that he had secured funding to take Tesla private, and while its stock jumped initially, investors remained skeptical. Musk said his proposal valued Tesla at $420 a share, and afterward the stock peaked at about $380 a share, close to an all-time high for Tesla but still well below the price he named.

Since then the stock has tumbled as it became clear Musk hadn't lined up funding for the deal. Now reports say regulators are looking into Musk's tweets, including whether he described the potential deal accurately, among other issues for Tesla.

Bond prices slipped. The yield on the 10-year Treasury note rose to 2.84 percent from 2.82 percent. The increase in interest rates helped financial companies, and Goldman Sachs rose 3.2 percent to $242.60.

Utilities and other high-dividend companies fell. Investors consider those big dividend payers an alternative to bonds, so they often sell them when yields start to rise.

Benchmark U.S. crude edged up 0.2 percent to $68.87 a barrel in the New York. Brent crude, which is used to price international oils, gained 0.5 percent to $76.21 a barrel in London.

Wholesale gasoline rose 0.6 percent to $2.09 a gallon. Heating oil added 0.6 percent to $2.21 a gallon. Natural gas fell 1.4 percent to $2.88 per 1,000 cubic feet.

Gold rose 0.2 percent to $1,216 an ounce. Silver added 0.4 percent to $14.86 an ounce. Copper picked up 0.3 percent to $2.71.

European stocks rose after a major economic survey in Germany, the Ifo institute index, came in stronger than analysts expected. Germany's DAX rose 1.2 percent while the CAC 40 in France was 0.9 percent higher. British markets were closed for a summer bank holiday.

Japan's benchmark Nikkei 225 index added 0.9 percent and South Korea's Kospi rose 0.3 percent. Hong Kong's Hang Seng jumped 2.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines...stly-rise-on-us-mexico-preliminary-trade-deal

*US Indexes Struggle Higher, Led by Technology Companies*
Major U.S. stock indexes shook off a midday stumble and managed tiny gains in afternoon trading, led by technology companies and a handful of retailers.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Major U.S. stock indexes wobbled and finished mostly higher Tuesday, led by technology companies and a handful of retailers.

The gains were enough to mark more record highs for several of the indexes, though not the Dow Jones Industrial Average.

Trading was lighter than usual, and stocks flipped between small gains and small losses for most of the day.

Outside of technology and retail, most other stocks finished lower. Energy companies dipped along with oil prices, and an increase in bond yields dented high-dividend stocks like utilities and phone companies, which investors tend to buy when they are seeking income.

Canada's foreign minister arrived in Washington to resume trade talks Tuesday, a day after stocks rose on news that the Trump administration had reached a preliminary deal with Mexico to replace the North American Free Trade Agreement.

"If we do get a new agreement in North America with lower overall tariffs or trade restrictions, long-term that's a pretty positive result," said Jim Paulsen, chief investment strategist for the Leuthold Group.

The S&P 500 index rose 0.78 points to 2,897.52. The Dow Jones Industrial Average rose 14.38 points, or 0.1 percent, to 26,064.02. The Nasdaq composite gained 12.14 points, or 0.2 percent, to 8,030.04.

The Russell 2000 index of smaller-company stocks inched up 0.02 point to 1,724.42.

The S&P 500, Nasdaq and Russell all closed at record highs. More stocks fell than rose on the New York Stock Exchange.

Shoe retailer DSW surged 20.2 percent to $32.70 after reporting second-quarter results that were far stronger than analysts expected. Sales surpassed Wall Street forecasts, and the company raised its estimates for the rest of the year.

Tiffany did the same and its stock added 1 percent to $131.07. Like many other retailers, their stocks had slumped in recent years due to growing competition from online retailers and sinking sales in stores.

Retail stocks have climbed recently as they improved their online businesses. DSW has risen 53 percent in 2018 and Tiffany has rallied 26 percent. When the companies fall short of expectations, however, their stocks have plunged.

That happened to Macy's, Gap and J.C. Penney in the second quarter. And on Tuesday Best Buy fell 5 percent to $77.57 after issuing a disappointing forecast for the current quarter.

Apple added 0.8 percent to $219.70 as technology companies, the most valuable part of the S&P 500, did better than the rest of the market. Chipmaker Xilinx rose 2.3 percent to $76.99 and Qualcomm gained 3.6 percent to $69.78.

The dollar continued to slip as investors reacted to signs the U.S. was making progress in resolving some of its trade disputes. The Trump administration has announced numerous tariffs this year, and those tariffs have made the dollar stronger.

The dollar rose to 111.21 yen from 111.10 yen. The euro rose to $1.1696 from $1.1680.

While some experts think stocks could rally if the U.S. and its partners make progress on new trade deals, Paulsen said there might not be a big market reaction because it's not clear how much trade tensions have actually harmed stocks this spring and summer.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.88 percent from 2.85 percent.

High dividend stocks including utilities, phone companies and household goods makers lagged the rest of the market, as they did on Monday.

Campbell Soup lost 2.1 percent to $39.83 after the New York Post reported that the company is wrapping up a strategic review and is unlikely to try to sell itself. Campbell announced the review in May along with the departure of CEO Denise Morrison.

The Post reported in July that activist investor Daniel Loeb is pushing the company to sell, and if it decides not to do that, he could launch a bid for control of the company.

News and financial information company Thomson Reuters jumped 3.2 percent to $44.66 after it announced an offer to buy back up to $9 billion in company stock. It offered to pay between $42 and $47 a share.

Akcea Therapeutics plunged 25.3 percent to $24.73 and Ionis Pharmaceuticals dropped 15.9 percent to $45.17 after the Food and Drug Administration didn't approve their drug Waylivra. It's designed to treat a rare genetic condition that can causes fatal pancreatitis.

Benchmark U.S. crude dipped 0.5 percent to $68.53 a barrel in New York while Brent crude, used to price international oils, fell 0.3 percent to $76 a barrel in London.

Wholesale gasoline lost 0.5 percent to $2.08 a gallon. Heating oil gave up 0.2 percent to $2.21 a gallon. Natural gas fell 0.8 percent to $2.85 per 1,000 cubic feet.

Gold fell 0.1 percent to $1,214.40 an ounce. Silver lost 0.6 percent to $14.77 an ounce. Copper gained 1 percent to $2.74 a pound.

France's CAC 40 rose 0.1 percent while Germany's DAX lost 0.1 percent. Britain's FTSE 100 jumped 0.5 percent.

Japan's benchmark Nikkei 225 rose 0.1 percent. South Korea's Kospi edged up 0.2 percent and Hong Kong's Hang Seng added 0.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ian-stock-markets-rise-after-wall-street-gain

*Stocks Rise Again as Technology Companies and Amazon Jump*
Technology companies lead the way as US indexes shake off a slow start and rise for the fourth day in a row.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks climbed Wednesday, driven by gains for big technology companies and Amazon. The S&P 500 and Nasdaq finished at record highs for the fourth day in a row.

Stocks have rallied over the last four days as investors grew more hopeful about trade talks between the U.S., Mexico and Canada. Canadian Prime Minister Justin Trudeau said Wednesday that Canada could join a trade pact between the U.S. and Mexico by Friday.

The Commerce Department said the U.S. economy was a bit stronger than it previously thought. It said gross domestic product grew 4.2 percent in the second quarter. Stronger business investment was a big reason, as companies spent more money on items like software.

"Corporate spending is up, which is something that is very important for the overall economy," said Quincy Krosby, chief market strategist at Prudential Financial.

Technology companies including Apple, Microsoft and Alphabet made strong gains.

The S&P 500 advanced 16.52 points, or 0.6 percent, to 2,914.04. The Dow Jones Industrial Average rose 60.55 points, or 0.2 percent, to 26,124.57. The Nasdaq composite jumped 79.65 points, or 1 percent, to 8,109.69.

The Russell 2000 index of smaller-company stocks added 6.33 points, or 0.4 percent, to 1,734.75. It also closed at a record high.

Technology firms and other large companies started climbing Friday as reported suggested a breakthrough on trade was near. On Monday the White House said it had reached a preliminary deal with Mexico to replace the North American Free Trade Agreement. Mexico is the U.S.' third-largest trading partner and Canada is second, behind China.

The S&P 500 has risen 3.5 percent in August after a 3.6 percent gain in July. That two-month gain is its best since late 2015.

Amazon jumped 3.4 percent to $1,998.10 after a Morgan Stanley analyst raised his price target on its stock to $2,500 from $1,850. At that price, Amazon would have a market value of $1.2 trillion.

"We have increasing confidence that Amazon's rapidly growing, increasingly large, high margin revenue streams (advertising, Amazon Web Services, subscriptions) will drive higher profitability," Brian Nowak wrote.

Apple became the first publicly traded company to reach the $1 trillion mark early this month. Investors currently value the iPhone maker at almost $1.08 trillion to Amazon's $975 billion.

Other retailers struggled. Dick's Sporting Goods dipped 2.2 percent to $35.60 after its sales fell short of expectations. The company said sales of Under Armour products dropped significantly because of that company's decision to expand distribution of its apparel to other stores.

Chico's FAS fell 4.1 percent to $8.47 after its quarterly report and watchmaker Movado sank 15.4 percent to $41.80. Elsewhere, Tiffany sank 4.3 percent to $125.48 and Kohl's lost 1.9 percent to $77.34.

Footwear seller Shoe Carnival surged 13.1 percent to $41.74 after it raised its annual forecasts following a second quarter. the company said back-to-school sales are off to a good start.

Energy companies rose along with oil prices. Benchmark U.S. crude rose 1.4 percent to $69.51 a barrel in New York while Brent crude, used to price international oils, gained 1.6 percent to $77.14 a barrel in London.

Homebuilders fell after the National Association of Realtors said fewer Americans signed contracts to buy homes in July compared with the previous month. High home prices and rising mortgage rates are pushing home sales down even though economic growth is solid.

TopBuild declined 2.7 percent to $65.10 and TRI Pointe lost 2.4 percent to 14.42.

The companies also dipped Tuesday after the S&P-Case Shiller index showed that home prices rose 6.3 percent in July, a slower pace than the month before.

Yum China climbed 5.5 percent to $39.23 after the Wall Street Journal reported that a group of investors offered to buy it for $46 per share, or $17.6 billion. The Journal said the offer was made in recent months and that Yum China rejected it.

Roku slumped 4.9 percent to $59.92 following a report that Amazon may challenge it with an ad-supported video service. The Information said Amazon will offer the service through its Fire TV devices, which are owned by about 48 million people.

In other commodities trading, wholesale gasoline rose 1.3 percent to $2.11 a gallon. Heating oil added 1.4 percent to $2.24 a gallon. Natural gas gained 1.5 percent to $2.90 per 1,000 cubic feet.

Gold fell 0.2 percent to $1,211.50 an ounce. Silver lost 0.5 percent to $14.70 an ounce. Copper sank 1 percent to $2.71 a pound.

Bond prices were little changed. The yield on the 10-year Treasury note stayed at 2.88 percent.

The dollar rose to 111.69 yen from 111.21 yen. The euro dipped to $1.1699 from $1.1696.

Germany's DAX picked up 0.3 percent and the CAC 40 of France rose 0.3 percent. The British FTSE slid 0.7 percent.

Tokyo's Nikkei 225 rose 0.1 percent while the Hang Seng in Hong Kong added 0.2 percent and Seoul's Kospi advanced 0.3 percent.


----------



## bigdog

https://www.usnews.com/news/busines...xed-as-weak-dollar-weighs-on-us-economic-data

*Word That More China Tariffs Could Come Knock Stocks Lower*
Stocks fell on Wall Street after Bloomberg News reported that the Trump administration could put tariffs on $200 billion in imports from China as soon as next week.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks skidded late Thursday following a report that the Trump administration could put tariffs on $200 billion in Chinese goods as early as next week.

After a weak start, stocks fell further after Bloomberg News said the U.S. government was getting ready to ramp up its trade dispute with China. It has been threatening to tax $200 billion in Chinese imports for several months, which would represent a major escalation in the trade fight.

Major exporters including chemical companies and machinery makers took sharp losses. Technology companies also fell, while banks dropped along with interest rates and some weak second-quarter results hurt retailers.

According to Bloomberg, the administration could impose the 25 percent tariffs as soon as a public review period ends next week, but it could simply announce the tariffs and say they will take effect later.

China has threatened to retaliate with tariffs on $60 billion in goods from the U.S. and could take other measures as well.

"Markets have kind of gone to sleep on these things," said Sameer Samana, a strategist for the Wells Fargo Investment Institute. "We think this might take as long as a year or two to play out."

Stocks were coming off a four-day surge that brought them to record highs as the U.S. appeared to make progress in trade talks with Mexico and Canada.

The S&P 500 index lost 12.91 points, or 0.4 percent, to 2,901.13. The Dow Jones Industrial Average fell 137.65 points, or 0.5 percent, to 25,986.92. The Nasdaq composite slid 21.32 points, or 0.3 percent, to 8,088.36.

The Russell 2000 index of smaller-company stocks dipped 2.40 points, or 0.1 percent, to 1,732.35.

Construction equipment maker Caterpillar fell 2 percent to $139.06. Gold and copper miner Freeport-McMoRan lost 3.5 percent to $14.15 and steel producer Nucor slid 2 percent to $62.79. General Motors fell 2 percent to $36.36.

Discount retailer Dollar Tree plunged 15.5 percent to $79.78 after its quarterly profit and sales fell short of Wall Street projections. Investors were also concerned about the company's forecast for the rest of the year.

Competitor Dollar General slipped 1 percent to $105.66 after it said its profit margins dipped. Clothing retailer Abercrombie & Fitch sank 17.2 percent to $22.55 after its sales disappointed analysts while PVH, which owns the Calvin Klein and Tommy Hilfiger brands, lost 9.6 percent to $141.67. Arts and crafts retailer Michaels fell 14.8 percent to $17.01.

While many other retailers struggled, Signet Jewelers jumped 23.8 percent to $67.68 after its sales flew past expectations and it raised its forecasts for the year. Also rising was clothing and accessories retailer Tilly's, which rose 14.6 percent to $20.63 after its report.

Video game maker Electronic Arts dropped 9.8 percent to $115.94 after it said the release of a major game, "Battlefield V," will be delayed by four weeks. It also said the strong dollar is hurting its sales. It cut a revenue forecast, citing those problems.

K2M Group jumped 26 percent to $27.50 after larger medical device maker Stryker agreed to buy it for $27.50 a share, or $1.2 billion. Stryker slipped 1.3 percent to $169.02.

Campbell Soup says it will sell its international and fresh food businesses to pay down debt and will focus on its snack and soup business in North America. Investors appeared unenthusiastic about the proposal, and the stock lost 2.1 percent to $39.15.

Argentina's peso plunged to another record low. The country's central bank raised its primary interest rate to 60 percent, the highest in the world, to try to stop the sharp decline in the national currency. The peso has dropped more than 50 percent this year.

The Argentine Merval index jumped 5.2 percent after president Mauricio Macri said Wednesday that he is asking the International Monetary Fund for the early release of $50 billion in rescue funds for Argentina.

Other emerging market stock indexes, including those in Brazil and Mexico, took losses.

Amazon stock inched up 0.2 percent to $2,002.38, its first close above the $2,000 mark. The online retail behemoth's stock is up almost 600 percent in the last five years, including a gain of 71 percent so far in 2018. That's taken Amazon's market value to almost $1 trillion. Earlier this month Apple became the first publicly traded company to reach $1 trillion in value.

Oil prices rose. Benchmark U.S. crude gained 1.4 percent to $70.25 a barrel in New York, while Brent crude, used to price international oils, added 0.8 percent to $77.77 a barrel in London.

Wholesale gasoline rose 1.8 percent to $2.14 a gallon. Heating oil inched up 0.3 percent to $2.25 a gallon. Natural gas added 0.4 percent to $2.87 per 1,000 cubic feet.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.86 percent from 2.88 percent. That hurt banks, as lower yields mean long-term loans are less profitable.

Gold fell 0.5 percent to $1,205 an ounce. Silver sank 1.5 percent to $14.59 an ounce. Copper lost 0.7 percent to $2.71 a pound.

The dollar fell to 111.05 yen from 111.69. The euro fell to $1.1663 from $1.1699.

Germany's DAX was down 0.5 percent and the CAC 40 in France shed 0.4 percent. The FTSE 100 index of leading British shares fell 0.6 percent.

Japan's benchmark Nikkei 225 added 0.1 percent while the Kospi in South Korea dropped 0.1 percent. Hong Kong's Hang Seng was 0.9 percent lower.


----------



## bigdog

https://www.usnews.com/news/busines...n-more-china-tariffs-sends-asian-stocks-lower

*Stocks Waver Along With US-Canada Trade Talks*
Stocks finish little changed after the U.S. and Canada say they haven't completed a trade deal but will resume talks next week.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks hardly budged Friday as the U.S. and Canada were unable to complete a trade deal, but the two sides intend to continue negotiating next week.

Energy companies slipped along with oil prices Friday and high-dividend stocks also fell. Technology companies and retailers made some modest gains. Trading was very light ahead of the Labor Day holiday in the U.S. on Monday.

Investors hoped the two countries would finish the outlines of a revamped NAFTA pact after the U.S. and Mexico announced a preliminary agreement Monday. Right before the markets closed, U.S. Trade Representative Robert Lighthizer said talks will resume on Wednesday.

President Donald Trump says he is willing to make a deal with just Mexico, excluding Canada, but Wall Street is confident the final deal will include all three.

Katie Nixon, chief investment officer for Northern Trust Wealth Management, said Trump will probably submit the outlines of a U.S.-Canada trade deal to Congress soon. But the trade war between the U.S. and China may drag on for months, if not longer, and Nixon said that could stop businesses from investing and affect the economy and the stock market.

"These things will have to be resolved one way or another for investors to regain the kind of confidence it's going to take to propel the markets meaningfully forward," she said.

The S&P 500 index was down for most of the day but inched up 0.39 points to close at 2,901.52. The Dow Jones Industrial Average fell 22.10 points, or 0.1 percent, to 25,964.82.

The Nasdaq composite rose 21.17 points, or 0.3 percent, to 8,109.54. The Russell 2000 index of smaller-company stocks gained 8.40 points, or 0.5 percent, to a record high of 1,740.75.

Ford declined 2.3 percent to $9.48 following reports the company canceled plans to import a version of the Ford Focus that is made in China, citing the tariffs proposed by the Trump administration.

Otherwise there weren't many developments on trade, and investors responded instead to the few remaining company earnings reports in the current cycle.

Gun and hunting and camping gear maker American Outdoor Brands skyrocketed 43.6 percent to $14.03. The company said sales picked up and it cut costs while offering fewer discounts. The stock erased big losses from earlier in the year.

Lululemon Athletica jumped 13.1 percent to $154.93 after it raised its forecasts for the rest of the year following a strong second quarter. Shares in the yoga gear maker have nearly doubled in value this year.

Discount retailer Big Lots sank 10.1 percent to $43.05 after its earnings and sales fell short of analysts' projections.

Ulta Beauty kept up with the Kardashians, or at least their half-sister Kylie Jenner. Ulta stock jumped 6.4 percent to $260 after the company announced a partnership with Jenner's Kylie Cosmetics. It said the brand will be available in its stores and online later this year.

Stocks slid Thursday afternoon after Bloomberg News reported that the Trump administration could escalate the U.S.-China trade war next week by putting tariffs on $200 billion in imports. Meanwhile the U.S. and Canada are resuming trade negotiations.

The S&P 500 rose 3 percent for the month and the Nasdaq jumped 5.7 percent.

Coca-Cola said it will pay $5.1 billion for the biggest coffee company in Britain. Costa has 2,400 shops in the U.K. and about 1,400 in more than 30 other countries.

Coca-Cola already owns the Georgia and Gold Peak coffee brands, which make bottled and canned drinks, but the purchase of Costa might be a step toward competing with Starbucks. In the last few years Coke has also acquired a minority stake in sports drink company BodyArmor.

Coca-Cola fell 0.8 percent to $44.57.

Argentina's stock index jumped 9.7 percent after a spokesman for the International Monetary Fund said the country has the IMF's "full support." The Merval index has climbed over the last two days after the government asked for the early release of $50 billion in rescue funds.

The Merval is still down 2.5 percent this year, and the Argentine peso has been trading at all-time lows.

Benchmark U.S. crude fell 0.6 percent to $69.80 a barrel in New York. Brent crude, used to price international oils, dipped 0.5 percent to $77.42 a barrel in London.

Wholesale gasoline was unchanged at $2.14 a gallon. Heating oil lost 0.3 percent to $2.24 a gallon. Natural gas gained 1.5 percent to $2.92 per 1,000 cubic feet.

Bond prices rose early, but faded late in the day. The yield on the 10-year Treasury note remained at 2.86 percent.

Gold rose 0.1 percent to $1,206.70 an ounce. Silver dipped 0.3 percent to $14.56 an ounce. Copper skidded 1.7 percent to $2.67 a pound.

The dollar rose to 110.97 yen from 110.05 yen. The euro fell to $1.1603 from $1.1663.

France's CAC 40 fell 1.3 percent and Germany's DAX lost 1 percent. Britain's FTSE 100 sank 1.1 percent.

Japan's benchmark Nikkei 225 recouped earlier losses to finish virtually unchanged. South Korea's Kospi rose 0.7 percent and Hong Kong's Hang Seng fell 1.1 percent.

1597


----------



## bigdog

*USA NYSE CLOSED FOR  LABOR DAY  Monday, September 3 *






https://www.usnews.com/news/busines...s-dip-amid-growing-worry-over-us-canada-trade

*Global Shares Mixed Amid Concern Over US-Canada Trade*
European stock markets are mostly higher, despite losses earlier in Asia, amid worries about trade friction between the U.S. and Canada and as trade volumes remained subdued due to a U.S. holiday.

By YURI KAGEYAMA, AP Business Writer

TOKYO (AP) — European stock markets mostly rose on Monday, after Asia closed lower, amid worries about trade friction between the U.S. and Canada and subdued investor activity due to a U.S. holiday.

KEEPING SCORE: France's CAC 40 was up 0.1 percent to 5,410, while Germany's DAX lost 0.2 percent to 12,338. Britain's FTSE 100 gained 0.9 percent to 7,498. Wall Street was scheduled to remain closed for Labor Day.

ASIA'S DAY: Earlier, Japan's benchmark Nikkei 225 lost 0.7 percent to finish at 22,707.38. Australia's S&P/ASX 200 slipped 0.1 percent to 6,310.90. South Korea's Kospi shed 0.7 percent to 2,307.03. Hong Kong's Hang Seng fell 0.6 percent to 27,712.54, while the Shanghai Composite index was down 0.2 percent at 2,720.73.

TRADE WORRIES: Investors had hoped the U.S. and Canada would finish the outlines of a revamped NAFTA pact after the U.S. and Mexico announced a preliminary agreement. U.S. Trade Representative Robert Lighthizer said last week that talks will resume on Wednesday. President Donald Trump said he is willing to make a deal with just Mexico, excluding Canada, but Wall Street is confident the final deal will include all three.

ANALYST'S TAKE: "With Canada not reaching an agreement with the U.S. on the NAFTA talks that were rushed on Friday last week, focus has now shifted to the mid-week deadline for Canada to sign up for the revamped NAFTA structure," said Vishnu Varathan at Mizuho Bank in Singapore.

ENERGY: Benchmark U.S. crude rose 24 cents to $70.04 a barrel. It fell 0.6 percent to $69.80 a barrel in New York late Friday. Brent crude, used to price international oils, rose 57 cents to $78.21 a barrel.

CURRENCIES: The dollar rose to 111.12 yen from 110.75. The euro fell to $1.1618 from $1.1685.


----------



## bigdog

https://www.usnews.com/news/busines...tocks-fall-on-trade-worries-weak-chinese-data

*Health and Tech Stocks Dip; Amazon Flirts With $1 Trillion*
US stocks finish slightly lower as health care and technology companies suffer losses, but banks rise and Amazon climbs again.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks finished lower Tuesday as losses for health care and technology companies canceled out gains for banks. Another gain for Amazon briefly brought its market value to $1 trillion.

Banks rose as interest rates climbed. Nike slumped after it gave a major endorsement deal to former San Francisco 49ers quarterback Colin Kaepernick, known for his protests of police brutality and racial injustice.

Investors didn't commit to many big moves as trading resumed after the Labor Day holiday. They are likely to focus on trade this week, as the U.S. is scheduled to resume trade talks with Canada on Wednesday and could announce new tariffs on $200 billion in Chinese imports later in the week.

Mark Hackett, chief of investment research at financial services firm Nationwide, said investors are paying less attention to trade-related headlines recently because they are fairly certain they know how the talks will end.

"I'm still pretty confident that before midterms or by the end of the year we're going to have a handshake agreement with the NAFTA region and China," he said.

The S&P 500 index gave up 4.80 points, or 0.2 percent, to 2,896.72. The Dow Jones Industrial Average dipped 12.34 points to 25,952.48. The Nasdaq composite fell 18.29 points, or 0.2 percent, to 8,091.25. The Russell 2000 index lost 7.38 points, or 0.4 percent, to 1,733.38.

The S&P 500 has risen in eight of the past nine weeks and closed at an all-time high Wednesday.

Drugmakers and suppliers took some of the sharpest losses Tuesday, and big technology companies including Facebook and Alphabet, Google's parent company, also slumped.

Nike stock fell 3.2 percent to $79.60 after the company said Kaepernick will be one of the faces of its 30th anniversary "Just Do It" campaign. Investors feared a possible backlash from customers.

Two seasons ago Kaepernick began a wave of protests by NFL players, kneeling during the national anthem to protest police brutality and racial inequality. He hasn't played in the NFL since the end of the 2016 season and is suing the league, saying owners conspired to keep him out of the game because of his protests of social injustice.

Tesla skidded 4.2 percent to $288.95 after a Goldman Sachs analyst said the company will face rising competition from other electric car makers as an important federal tax credit is phased out, while its spending is likely to increase further.

Goldman analyst David Tamberrino expects the stock to fall to $210 in six months.

Amazon briefly traded above $1 trillion in market value, a milestone only Apple has surpassed among publicly-traded U.S. companies. Amazon finished with a gain of 1.3 percent to $2,039.51, which gave it a market value of $995 billion.

Apple reached the $1 trillion mark on Aug. 2 and is now valued at $1.1 trillion. According to S&P Dow Jones Indices, Amazon and Apple combined account for 8 percent of the current value of the S&P 500.

Talks to keep Canada in a revised North American trade deal are scheduled to resume Wednesday as Washington and Ottawa try to break a deadlock over issues such as Canada's dairy market and U.S. efforts to shield drug companies from generic competition.

The U.S. and Mexico announced a preliminary trade deal last week, and while the Trump administration has threatened to leave Canada out of a final deal, investors doubt that will happen.

Hackett, of Nationwide, said talks with China are far more complicated, but investors feel the Chinese government will ultimately make significant concessions. He said that's reflected in the gains for U.S. stocks in recent months and the losses for indexes in China and other emerging markets.

"Investors are pretty solidly betting that the U.S. is going to quote-unquote win the trade war," he said.

Chinese e-commerce company JD.com slid 6.1 percent to $29.38 after founder and CEO Richard Liu was arrested in Minneapolis. Liu was arrested late Friday on suspicion of criminal sexual conduct and was released pending charges. JD.com said he has returned to China.

Bond prices dropped. The yield on the 10-year Treasury note rose to 2.90 percent from 2.85 percent.

Banks made modest gains as higher long-term interest rates mean they make more money from mortgages and other types of loans. High-dividend companies including real estate and household goods makers fell, as investors sold those stocks and bought bonds instead.

Benchmark U.S. crude rose 0.1 percent to $69.87 a barrel in New York. Brent Crude, used to price international oils, was little changed at $78.17 a barrel in London.

Wholesale gasoline dipped 0.1 percent to $1.99 a gallon. Heating oil rose 0.5 percent to $2.25 a gallon. Natural gas slumped 3.2 percent to $2.82 per 1,000 cubic feet.

The dollar gained strength and metals prices fell. Gold lost 0.6 percent TO $1,199.10 an ounce. Silver dropped 2.6 percent to $14.18 an ounce and Copper sank 2.6 percent to $2.60 a pound.

The dollar rose to 111.48 yen from 111.01 yen. The euro fell to $1.1581 from $1.1597.

France's CAC 40 dropped 1.3 percent and Germany's DAX shed 1.1 percent. In Britain, the FTSE 100 index lost 0.6 percent.

Japan's benchmark Nikkei 225 lost 0.1 percent while the Kospi in South Korea gained 0.4 percent. Hong Kong's Hang Seng added 0.9 percent.


----------



## bigdog

https://www.usnews.com/news/business/articles/2018-09-05/asian-stocks-sink-after-wall-street-losses

*Tech Stocks Drop as Congress Scrutinizes Social Media*
US stocks finish lower as technology and consumer-focused companies absorb sharp losses, canceling out gains in most other parts of the market.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Technology companies dropped Wednesday as Facebook and Twitter executives testified before Congress. Consumer-focused companies like Amazon and Netflix also slumped.

Facebook Chief Operating Officer Sheryl Sandberg and Twitter CEO Jack Dorsey told a Senate panel they are working to stop manipulation of their services by foreign countries. Legislators criticized Alphabet, Google's parent company, for refusing to send its CEO to the hearing.

In a separate hearing, House Republicans accused Twitter of bias against conservatives, a charge not backed up by evidence.

The U.S. and Canada resumed negotiations to try to keep Canada in an updated North American trade pact that also includes Mexico. Canada's trade envoy sounded positive after three hours of talks, and investors are confident Canada will be included in the final deal.

Technology companies like Microsoft and consumer-focused companies, most notably Amazon, have done far better than the broader stock market for years, and throughout that time they have quickly recovered from nearly every brief decline.

But Julian Emanuel, chief equity and derivative strategist for BTIG, said Wednesday's hearing came at a time when investors have more concerns about those stocks than in recent years: Facebook, Twitter and Netflix all plunged about 20 percent in July after they reported weak user growth, and they're yet to recover.

"The reflex reaction to buy these names on every dip, which has been the case the last few years, has broken," he said. "That kind of damage takes a bit of time to heal itself."

The S&P 500 index slid 8.12 points, or 0.3 percent, to 2,888.60. The Nasdaq composite, which has a high concentration of technology companies, tumbled 96.07 points, or 1.2 percent, to 7,995.17. The Russell 2000 index of smaller-company stocks lost 5.73 points, or 0.3 percent, to 1,727.65.

The Dow Jones Industrial Average rose 22.51 points, or 0.1 percent, to 25,974.99 as the weaker dollar sent industrial companies including 3M and Caterpillar sharply higher.

Twitter fell 6.1 percent to $32.73 and Facebook lost 2.3 percent to $167.18. Video chat company Snap shed 4.5 percent to $10.11.

Many of the market's largest companies and the year's most successful stocks traded lower. Microsoft fell 2.9 percent to $108.49 and Alphabet slid 1 percent to $1,199.10. Amazon dropped 2.2 percent to $1,994.82 while Netflix sank 6.2 percent to $341.18.

Traditionally defensive companies did better. Utility Southern Co. rose 1.8 percent to $44.66 while PepsiCo gained 1.9 percent to $113.12. Utilities have fared worse than the broader S&P 500 this year, while household goods stocks have fallen.

The dollar rose to 111.51 yen from 111.48 yen. The euro rose to $1.1623 from $1.1581. The ICE US Dollar index slipped, which helped exporters including industrial and materials companies. The weaker dollar also sent metals prices higher.

Halliburton CEO Jeffrey Miller said the company is seeing a decrease in North American drilling activity because of customers' tight budgets, and the decline is worse than it previously expected. It also reported project delays in the Middle East.

Miller said those problems will trim Halliburton's third-quarter earnings by 8 to 10 cents a share. The stock fell 6 percent to $37.13.

Benchmark U.S. crude declined 1.6 percent to $68.72 per barrel in New York while Brent crude, used to price international oils, shed 1.2 percent to $77.27 per barrel in London.

Wholesale gasoline lost 1.5 percent to $1.96 a gallon. Heating oil fell 0.9 percent to $2.23 a gallon. Natural gas slid 1 percent to $2.80 per 1,000 cubic feet.

Luggage and accessories retailer Vera Bradley jumped after it posted strong results in the second quarter and raised its profit forecast for the year. The company said fewer items were marked down, which improved its profit margins. The stock climbed 14.8 percent to $16.40.

Furniture and housewares maker RH fell 13.1 percent to $131.51 after its second-quarter sales came up short of analysts' projections.

U.S. shares of Chinese internet retailer JD.com dropped another 10.6 percent to $26.30 after a Minneapolis police report showed company founder and CEO Richard Liu was arrested over a felony rape accusation.

The stock fell 6 percent Tuesday, the first trading day after Liu's arrest was reported. JD.com said Sunday that police found no misconduct, and the company also says Liu has returned to China. The stock is now trading at its lowest price since January 2017.

Bond prices held steady. The yield on the 10-year Treasury note remained at 2.90 percent.

Gold rose 0.2 percent to $1,201.30 an ounce. Silver added 0.3 percent to $14.22 an ounce. Copper rose 0.3 percent to $2.61 a pound.

The French CAC 40 fell 1.5 percent while Germany's DAX lost 1.4 percent. In London the FTSE 100 shed 1 percent.

Tokyo's Nikkei 225 retreated 0.5 percent and Hong Kong's Hang Seng dropped 2.6 percent. Seoul's Kospi declined 1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...-tumble-as-comment-period-for-us-tariffs-ends

*US Stocks Slip Again as Technology Companies Extend Slump*
US stocks slide for the third consecutive day as technology companies take big losses for the second day in a row.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Technology companies suffered another day of sharp losses Thursday, although the broader market didn't fare as badly.

Chipmakers sank after an executive from KLA-Tencor said business in the fourth quarter looks weaker than the company expected. Apple also fell, and social media companies continued to sink after Congressional hearings weighed on the stocks the day before.

"They have a target on their back," said Karyn Cavanaugh, senior markets strategist at Voya Investment Management.

The S&P 500 index shed 10.55 points, or 0.4 percent, to 2,878.05. The Nasdaq composite fell 72.45 points, or 0.9 percent, to 7,922.73. The Russell 2000 index of smaller-company stocks declined 13.18 points, or 0.8 percent, to 1,714.47.

However industrial companies and high-dividend stocks rose, which limited the market's losses. The Dow Jones Industrial Average rose 20.88 points, or 0.1 percent, to 25,995.87 as Boeing, 3M and United Technologies headed higher.

Apple fell 1.7 percent to $222.10 and KLA-Tencor lost 9.7 percent to $107.28. Facebook gave up 2.8 percent to $162.53 and Twitter slid 5.9 percent to $30.81, and Google's parent company, Alphabet, declined 1.3 percent to $1,183.99. Those companies took similar losses Wednesday.

The Nasdaq, which has a high concentration of technology companies, is down 2.3 percent this week. But for the second day in a row, big losses for technology companies and for Amazon, the second-largest U.S. company, were partly canceled out by gains elsewhere.

Cavanaugh, of Voya Investment Management, said investors are still optimistic about the U.S. economy, which has helped other stocks.

"They know the underlying fundamentals are good," she said. "Company earnings are not turning tail (and running away) because of the trade wars and all of the political drama."

Technology companies outperformed the broader S&P 500 in each of the past four years and they are doing it again this year. Cavanaugh said the companies have posted very strong profits at a time global economic growth has been slow, and investors will probably continue to find that appealing.

Bond prices turned higher. The yield on the 10-year Treasury note fell to 2.87 percent from 2.90 percent. That made big dividend payers including utilities and household goods makers more appealing, and their stocks rose.

No major trade developments emerged during the trading hours. The U.S. and Canada continued negotiations to keep Canada in an updated version of the North American Free Trade Agreement.

The U.S. could put a 25 percent tax on $200 billion in Chinese goods after a public comment period on the proposal expired Thursday, and media reports have said the tariffs could be announced this week. China has vowed to retaliate.

The U.S. and China have put taxes on $50 billion in imports in the last few months, but larger tariffs would represent a major escalation in their dispute.

CBS jumped after the Wall Street Journal reported that the TV network and its parent company are in talks to settle a lawsuit. As part of that settlement, National Amusements would give up on its bid to merge CBS with Viacom, which it also controls.

CBS's board and shareholders opposed the merger, and its stock gained 3.2 percent to $54.62. Viacom dipped 0.6 percent to $29.25.

The Journal also reported that Les Moonves, CBS' longtime CEO, is negotiating with the board of directors about a possible exit. In July, he was accused in a New Yorker article of sexually harassing six women.

Moonves acknowledged he made advances that may have made some women uncomfortable, but he denied allegations he threatened the careers of some of the women afterward.

While the U.S. economy has gained strength this year, investors are worried that rising interest rates and trade disputes will harm fast-growing, but often fragile, economies elsewhere. The currencies of Argentina, Turkey and Iran have all hit record lows recently and Venezuela's currency has lost almost all its value.

While those countries face different problems, the Federal Reserve's interest rate increases affect all of them by driving up their debt costs and making U.S. assets more attractive. Investors are responding by pulling money out of emerging markets, and that's exposed financial vulnerabilities.

Some investors fear that big losses in some developing markets could ripple out into the global financial system, as they did in the late 1990s, when several Asian countries eventually required financial rescue.

Oil prices fell for the second day in a row. Benchmark U.S. crude shed 1.4 percent to $67.77 a barrel in New York. Brent crude, used to price international oils, lost 1 percent to $76.50 a barrel in London.

Wholesale gasoline slid 0.7 percent to $1.95 a gallon. Heating oil slumped 1.1 percent to $2.21 a gallon. Natural gas gave up 0.8 percent to $2.77 per 1,000 cubic feet.

Gold rose 0.2 percent to $1,204.30 an ounce. Silver fell 0.3 percent to $14.18 an ounce. Copper gained 1 percent to $2.64 a pound.

The dollar dipped to 110.83 yen from 111.51 yen. The euro edged up to $1.1625 from $1.1623.

Germany's DAX fell 0.7 percent and in Britain the FTSE 100 lost 0.9 percent. The CAC 40 in France gave up an early gain finished 0.3 percent lower.

Japan's benchmark Nikkei 225 lost 0.4 percent and the Kospi in South Korea dropped 0.2 percent. Hong Kong's Hang Seng tumbled 1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...-markets-fall-as-us-china-renew-tariff-threat

*Stocks Fall Again on Trade War, Rate Worries*
U.S. stock indexes fell Friday after President Donald Trump said he may intensify his trade battle with China.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stock indexes fell Friday after President Donald Trump said he may intensify his trade battle with China. A strong jobs report also pushed investors to gird for higher interest rates.

The S&P 500 bounced between modest gains and losses in an up-and-down day, but its most decisive move was downward after Trump said he's ready to impose tariffs on essentially every good that's imported from China. That helped push the S&P 500 to its fourth straight loss.

The S&P 500 lost 6.37 points, or 0.2 percent, to 2,871.68 and closed out just its second down week in the last 10. The Dow Jones industrial average lost 79.33, or 0.3 percent, to 25,916.54, and the Nasdaq composite fell 20.18, or 0.3 percent, to 7,902.54.

Earlier in the day, the government's monthly jobs report showed that hiring and workers' wage gains were healthier than expected in August. It's the latest evidence that the U.S. economy continues to power ahead, and it clears the way for the Federal Reserve to raise short-term interest rates at its meeting later this month and beyond. Treasury yields jumped in response.

With the economy so strong and corporate profits so high, stock prices would likely be even higher than they are today if not for investors' worries about global trade, said David Joy, chief market strategist at Ameriprise Financial.

The United States has already imposed tariffs on $50 billion in Chinese imports, with Beijing quickly following suit, and investors worry about how high the total will rise. The concern is that escalating tariffs will drag down corporate profits and economic growth.

Trump told reporters Friday that "to a certain extent, it's going to be up to China." He also said that he's prepared to impose tariffs on an additional $267 billion of Chinese imports, which would be on top of tariffs already being considered on $200 billion of Chinese goods. The S&P 500 quickly fell about 0.3 percent after Trump made his comments.

"The underlying fundamentals of the economy are still quite healthy, but the longer this goes, the more destructive it's going to be for supply chains," said Joy of Ameriprise Financial.

Further evidence about those fundamentals came from Fridays' jobs report, which showed employers hired more workers last month than economists expected, and the unemployment rate remained near an 18-year low. That helped push up the average hourly wage by 2.9 percent from a year earlier, the fastest growth in eight years.

If wage gains keep accelerating, it could feed into higher inflation throughout the economy. That in turn could push the Federal Reserve to get more aggressive about raising rates, something it has pledged to do slowly and steadily.

Higher interest rates can hurt stock prices because they make bonds look more attractive. The market went through a similar scenario in February, when the monthly jobs report showed a surprisingly big increase in wages. But investors have recently been preparing themselves for a total of four rate increases for 2018 following comments from the Fed.

"What everyone's trying to figure out is at what point do you get the intersection of higher wages pushing into inflation and the Fed starting to get a little more aggressive," said Joy. "We're not there yet, but this takes us one step closer to that, and historically, that's what brings expansions and bull markets to an end."

The yield on the 10-year Treasury jumped to 2.93 percent to from 2.87 percent late Thursday, and the two-year yield rose to 2.69 percent from 2.62 percent.

When bonds are offering higher yields, it can pull buyers away from stocks that pay big dividends. Utility stocks and real-estate investment trusts, which are among the market's highest dividend payers, had some of the day's steepest losses. They each lost 1.2 percent, tied for the largest loss among the 11 sectors that make up the S&P 500.

Tesla also struggled. Its stock sank after its chief accounting officer resigned just a month into the job. Dave Morton said he has no disagreements with Tesla's leadership about its financial reporting, but he was not expecting so much public attention and such a fast pace at the company when he joined on Aug. 6.

Tesla CEO Elon Musk also appeared on a podcast overnight in which he inhales from what the host says is a joint containing marijuana and tobacco. Shares sank $17.71, or 6.3 percent, to $263.24.

On the opposite end was Broadcom, which jumped to the biggest gain in the S&P 500 after reporting stronger-than-expected profit for the latest quarter. It rose $16.61, or 7.7 percent, to $232.58.

Broadcom and other technology stocks have been riding fast profit growth to big stock-price gains, and the group has led the market for much of the last five years. That leadership faltered a bit this past week, though, amid worries about increased scrutiny from Capitol Hill.

In markets abroad, Japan's Nikkei 225 index lost 0.8 percent, the Kospi in South Korea dropped 0.3 percent and Hong Kong's Hang Seng was virtually unchanged. In Europe, France's CAC 40 rose 0.2 percent, and Germany's DAX was virtually flat. The FTSE 100 in London fell 0.6 percent.

The dollar rose to 111.06 Japanese yen from 110.83 yen late Thursday. The euro fell to $1.1566 from $1.1625, and the British pound fell to $1.2924 from $1.2933.

Benchmark U.S. crude lost 2 cents to settle at $67.75 per barrel. Brent crude, the international standard, rose 33 cents to $76.83 a barrel.

Natural gas inched up by a fraction of a cent and settled at $2.78 per 1,000 cubic feet. Heating oil rose a penny to $2.22 per gallon, and wholesale gasoline rose 2 cents to $1.97 per gallon.

Gold slipped $3.90 to $1,200.40 per ounce, silver lost 1 cent to $14.17 per ounce and copper fell a penny to $2.62 per pound.

1937


----------



## bigdog

https://www.usnews.com/news/busines...ks-mixed-on-fears-of-more-us-tariffs-on-china

*Stocks End Losing Streak as Industrials, Retailers Rise*
Gain for industrial and consumer-focused companies help US stock indexes break out of a four-day losing streak.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks broke a four-day losing streak Monday as industrial companies and retailers rose. Technology companies recovered some of their steep losses from last week.

Transportation and other industrial companies continued their recent rally and retailers like Nike, Home Depot and Walmart all climbed. While technology companies rose overall, Apple fell after saying a new round of bigger U.S. tariffs could push it to raise prices.

CBS slipped after it announced the departure of longtime CEO Les Moonves, and Alibaba skidded after the big Chinese internet retailer said co-founder Jack Ma will step down as chairman in 2019.

The European Union's chief negotiator said the bloc might be able to reach a deal with Britain by early November. The British pound jumped.

Investors expect the U.S. to put new tariffs on Chinese imports soon. The Hang Seng index in Hong Kong fell again Monday after President Donald Trump again threatened to tax almost everything the U.S. imports from China. The index has tumbled almost 20 percent since late January as the dispute has escalated.

Randy Frederick, vice president of trading and derivatives for Charles Schwab, said investors feel China has much more to lose in the conflict than the U.S. does, as it exports much more to the U.S. than it imports from it.

"If Chinese businesses and Chinese consumers get uncomfortable with this whole battle, they get nervous and they get tentative," he said. "When people do that, they stop spending."

S&P 500 index gained 5.45 points, or 0.2 percent, to 2,877.13. The Dow Jones Industrial Average lost 59.47 points, or 0.2 percent, to 25,857.07 as health insurer UnitedHealth and aerospace company Boeing traded lower.

The Nasdaq composite edged up 21.62 points, or 0.3 percent, to 7,924.16. The Russell 2000 index of smaller-company stocks rose 4.29 points, or 0.3 percent, to 1,717.47.

The S&P 500 fell 1 percent last week, its worst drop since late June.

Nike rose 2.2 percent to $82.10. The stock slumped 3 percent Aug. 31 as investors worried about potential backlash to an advertising campaign featuring former San Francisco 49ers quarterback Colin Kaepernick. Nike's stock has now regained almost all the ground it lost since then.

Technology companies moved higher as Microsoft picked up 1.1 percent to $109.38 and Broadcom rose 3.5 percent to $240.61. The S&P 500 technology index is coming off its largest weekly loss since March.

Apple fell 1.3 percent to $218.33 after it might raise prices on some of its products, including the Apple Watch and the Mac mini, in response to the tariffs.

The Trump administration could soon announce tariffs on $200 billion in goods imported from China and has threatened more taxes after that. The administration has already imposed tariffs on $50 billion in Chinese products, which Beijing matched.

Hong Kong's Hang Seng index tumbled 1.3 percent. After peaking in late January, it's close to the entering what Wall Street calls a "bear market." The MSCI Emerging Markets stock index has already breached that mark as major indexes in Turkey and Russia have also skidded.

Frederick said the gap between rising U.S. indexes and falling emerging markets indexes is unusual and can't last for very long: either the difficulties in emerging markets will start to affect the rest of the world economy, potentially slowing U.S. growth, or emerging markets will start improving.

CBS announced Sunday that Moonves is stepping down after six more women accused him of sexual misconduct as well as retaliation if they resisted him. Moonves denied the charges in a pair of statements, although he said he had consensual relations with three of the women.

CBS fell 1.5 percent to $55.20, and it's fallen 4 percent since the allegations against Moonves surfaced in late July.

Alibaba fell 3.7 percent to $156.36. The company's next chairman will be Daniel Zhang. Zhang replaced Ma as CEO in 2013.

France's CAC 40 added 0.3 percent and the German DAX moved up 0.2 percent. Britain's FTSE 100 was unchanged as the pound climbed to $1.3029 from $1.2924.

Benchmark U.S. crude fell 0.3 percent to $67.54 a barrel in New York. Brent crude, used to price international oils, gained 0.7 percent to $77.37 a barrel in London.

Wholesale gasoline dipped 0.5 percent to $1.96 a gallon. Heating oil stayed at $2.22 a gallon. Natural gas rose 1 percent to $2.80 per 1,000 cubic feet.

Bond prices were little changed. The yield on the 10-year Treasury note remained at 2.94 percent.

The dollar rose to 111.21 yen from 111.06 yen. The euro rose to $1.1597 from $1.1566.

Gold was little changed at $1,199.80 an ounce. Silver rose 0.1 percent to $14.18 an ounce. Copper inched up 0.2 percent to $2.63 a pound.

Japan's benchmark Nikkei 225 climbed 0.3 percent after the country's gross domestic product surpassed expectations by growing at a 3 percent annual rate in the second quarter.


----------



## bigdog

https://www.usnews.com/news/busines...tocks-mixed-as-investors-await-us-tariff-hike

*Technology and Energy Companies Help Send US Stocks Higher*
U.S. stocks rise as technology and consumer-focused companies recover more of their losses from last week, while home improvement retailers and gas prices climb as Hurricane Florence moves closer to the East Coast.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks rallied Tuesday as technology companies continued to recover from their recent losses.

The approach of Hurricane Florence sent home improvement retailers and gas prices higher. The Department of Energy said it's seeing signs that shipments of oil from Iran are falling as the U.S. prepares to resume sanctions on the Iranian energy industry and pushes other countries to stop buying.

Apple climbed a day before it's set to announce new phone designs and other products. Video game companies Activision Blizzard and Take-Two Interactive also jumped. Other big technology companies, and their compatriot Amazon, rose for a second day after big declines last week.

Brad McMillan, chief investment officer for Commonwealth Financial Network, said that when investors' confidence in the technology sector wavers, it tends to come back quickly because the companies are so profitable: Google and Facebook are free to use, and new users cost the companies practically nothing.

"There's no way smaller companies can compete," he said, although that comes with risks. "When a company gets successful beyond a certain level it does draw government attention."

The S&P 500 index rose 10.76 points, or 0.4 percent, to 2,887.89. The Dow Jones Industrial Average gained 113.99 points, or 0.4 percent, to 25,971.06. The Nasdaq composite added 48.31 points, or 0.6 percent, to 7,972.47. The Russell 2000 index of smaller and more U.S.-focused companies inched up 0.94 points, or 0.1 percent, to 1,718.40.

Apple jumped 2.5 percent to $223.85 and Amazon rallied 2.5 percent to $1,987.15. Microsoft picked up 1.7 percent to $111.24 and Alphabet climbed 1.3 percent to $1,189.99.

Big technology companies slumped last week as executives from Facebook and Twitter appeared before Congress at hearings about election meddling and political bias. That led to a rare decline for the sector.

While the stocks are bouncing back from that drop, Facebook and Twitter have yet to recover from the big losses they absorbed in July after investors began to worry about their user growth.

Investors also anticipated possible gas shortages linked to Florence. Wholesale gasoline futures surged 2.8 percent to $2.01 a gallon.

Home Depot rose 1.5 percent to $213.85 and Lowe's added 1.6 percent to $114.18 as damage from the storm could lead to a quick boost in sales. But property and casualty insurance companies have slumped in the last week.

According to a note published Sunday by Morgan Stanley analyst Kai Pan, Allstate, Berkshire Hathaway and Travelers are some of the largest catastrophe insurers in the Carolinas and Virginia. while the largest property and casualty reinsurers include Axis Capital, Everest Re and RenaissanceRe.

Most of those stocks inched higher Tuesday, but they have fallen between 3 and 5 percent over the last week.

Benchmark U.S. crude jumped 2.5 percent to $69.25 per barrel in New York. Brent crude, used to price international oils, climbed 2.2 percent to $79.06 a barrel in London.

The Energy Information Administration also said there is evidence that several countries are buying significantly less oil from Iran. The U.S. is getting ready to put sanctions on Iran's energy industry again, and it's been pressuring other countries to reduce their imports.

Those steps came after the Trump administration withdrew from an international agreement that is intended to curb Iran's nuclear program.

Chipmaker Integrated Device Technology soared after it agreed to be bought by Renesas Electronics of China for $49 a share, or $6.34 billion. IDT climbed 10.6 percent to $46.56.

Yum China Holdings dropped 13.3 percent to $31.94 after Bloomberg News reported that a Chinese consortium has decided to end its effort to buy the fast food company.

Wireless speaker maker Sonos plunged 22 percent to $16.56 after its first earnings report as a publicly traded company. The company went public in early August with an offering that priced at $15 a share and it had climbed to $21.24 at Monday's close.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.98 percent from 2.94 percent.

The World Trade Organization says it will review China's request to be allowed to impose sanctions on the U.S. for failing to abide by WTO rules. The dispute is linked steps the U.S. took in 2013 over Chinese goods that it said were "dumped," or sold for less than market value.

The dollar rose to 111.59 yen from 111.21 yen. The euro dipped to $1.1586 from $1.1597.

In other commodities trading, heating oil gained 1.5 percent to $2.25 a gallon. Natural gas added 0.9 percent to $2.83 per 1,000 cubic feet.

Gold rose 0.2 percent to $1,202.20 an ounce. Silver fell 0.2 percent to $14.15 an ounce. Copper slipped 0.2 percent to $2.62 a pound.

Germany's DAX and London's FTSE 100 both fell 0.1 percent. The French CAC 40 added 0.3 percent.

Hong Kong's Hang Seng lost 0.7 percent and officially entered a bear market, having fallen 20.3 percent from its recent peak reached Jan. 26. Tokyo's Nikkei 225 rose 1.3 percent while Seoul's Kospi fell 0.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ian-stocks-fall-as-china-reacts-to-us-tariffs

*US Stocks Wobble as Trade Hopes Flicker and Tech Stocks Slip*
After a short-lived rally, US stocks finish mixed as energy companies climb along with oil prices and technology companies skid.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks wobbled between gains and losses then finished with a split decision Wednesday as technology companies dropped. That canceled out gains for energy companies.

Oil and gasoline prices continued to rise Wednesday after a big gain the day before, and U.S. crude reached its highest price in two months. Chipmakers fell, while Apple slipped after announcing new features for iPhones and Apple Watches.

The market staged a brief rally around midday following a report that the U.S. was seeking new trade talks with China. Stocks climbed, but they retreated to their earlier levels in less than an hour.

Kristina Hooper, chief global market strategist for Invesco, said investors have learned from earlier trade updates that didn't amount to much.

"Every other time this has happened, it wasn't worth the positive market move," she said. "Investors ... are a lot more skeptical this time around, having been burned a few times with false optimism about positive trade developments."

The S&P 500 index edged up 1.03 points to 2,888.92. The Dow Jones Industrial Average added 27.86 points, or 0.1 percent, to 25,998.92.

The losses for technology companies weighed on the Nasdaq composite, which slid 18.24 points, or 0.2 percent, to 7,954.23. The Russell 2000 index of smaller-company stocks lost 2.71 points, or 0.2 percent, to 1,715.70.

Most of the stocks on the New York Stock Exchange finished higher.

Oil prices built on Tuesday's gains after the Energy Information Administration said U.S. crude stockpiles fell by more than 5 million barrels last week. The prospect of tighter supplies and higher prices also helped energy company stocks.

Benchmark U.S. oil climbed 1.6 percent to $70.37 a barrel in New York. Brent crude, the standard for international oil prices, added 0.9 percent to $79.74 a barrel in London. Wholesale gasoline rose 1 percent to $2.03 a gallon. It jumped almost 3 percent the day before.

Goldman Sachs analyst Mark Delaney downgraded Micron Technology stock to "Neutral" and said he expects weaker market conditions for several types of computer chips.

Micron fell 4.3 percent to $41.74 and Nvidia slipped 1.7 percent to $268.20.

Apple unveiled new iPhones with larger screens on Wednesday, and also said new Apple Watches will have larger screens and new health-monitoring features.

Apple tends to trade lower on the days it announces new products, and it fell 1.2 percent to $221.07 Wednesday. It's up 31 percent in 2018, however.

As the Apple Watch updates were announced, shares of fitness tracker company Fitbit slumped 6.9 percent to $5.53 in heavy trading.

According to the Wall Street Journal, U.S. officials recently proposed a new round of trade negotiations to give the Chinese government another chance to address U.S. concerns before the Trump administration imposes bigger tariffs on goods imported from China.

The two countries have already placed new taxes on $50 billion in imports, and the government is threatening higher tariffs on $200 billion in goods.

Many experts feel that China will make substantial concessions to resolve the trade impasse, and some are hoping for major progress over the next few months.

But Hooper of Invesco says she doesn't think China is about to give in. She said the Chinese government is preparing for a long dispute by ramping up spending, and notes that unlike U.S. politicians, Chinese President Xi Jinping doesn't have to worry about facing voters.

Cigarette makers jumped after the Food and Drug Administration said it is looking at steps to combat "an epidemic" of e-cigarette use by teenagers, and said companies need to address the problem or risk having their flavored products pulled off the market.

Altria Group surged 6.7 percent to $63.43, its largest gain in just under a decade. Philip Morris International rose 3.4 percent to $80.05 and overseas rivals like British American Tobacco and Imperial Brands also jumped.

The Labor Department said wholesale prices unexpectedly dipped in August, the first decline in a year and a half. That's a sign inflation pressures could be easing. The agency's producer prices index slipped 0.1 percent in August, although it's up 2.8 percent over the last year.

The department said transportation and warehousing service prices fell for the month.

The dollar weakened and interest rates dipped, which put pressure on bank stocks and also boosted commodities prices. The yield on the 10-year Treasury note fell to 2.96 percent from 2.98 percent.

The dollar fell to 111.22 yen from 111.59 yen. The euro rose to $1.1632 from $1.1586.

Gold rose 0.7 percent to $1,210.90 an ounce. Silver added 1 percent to $14.29 an ounce. Copper climbed 2.1 percent to $2.68 a pound.

Heating oil added 0.3 percent to $2.26 a gallon and natural gas remained at $2.83 per 1,000 cubic feet.

France's CAC 40 gained 0.9 percent while the British FTSE and the DAX in Germany both rose 0.5 percent.

Japan's benchmark Nikkei 225 lost 0.3 percent, and the Kospi in South Korea was almost flat. Hong Kong's Hang Seng index fell 0.3 percent, its ninth loss in 10 days.


----------



## bigdog

https://www.usnews.com/news/busines...rise-on-possible-us-china-talks-amid-tensions

*US Stocks Jump as Inflation Slows; Tech Rebounds*
US stocks rise as Apple, Microsoft and Qualcomm lead a round of gains in technology companies and health care companies also move higher.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks made solid gains Thursday as Apple and Qualcomm led a rally in technology companies. Drugmakers and health insurers also rose.

Apple changed course and rose a day after it introduced three new iPhone models and updates to the Apple Watch. Chipmakers recovered after a steep drop the day before.

Stock indexes in Turkey and other emerging markets rose after the Turkish central bank raised interest rates sharply in response to the nation's currency crisis.

Technology stocks are edging higher after a four-day losing streak last week, their longest since April. Investors worried about the prospect of heavier regulation for companies like Facebook, Twitter and Alphabet.

That uncertainty comes right before a shift in the tech sector later this month. Companies including Facebook, Netflix and Alphabet, Google's parent company, will move into a new group called "communications services."

Lindsey Bell, an investment strategist with CFRA, said the changes could encourage investors to look at smaller technology companies that may have been overlooked compared to giants like Apple and Alphabet.

"Some of these software companies do have great potential, and I think they've been underappreciated," she said.

The S&P 500 index gained 15.26 points, or 0.5 percent, to 2,904.18. The Dow Jones Industrial Average rose 147.07 points, or 0.6 percent, to 26,145.99. The Nasdaq composite jumped 59.48 points, or 0.7 percent, to 8,013.71. The Russell 2000 index of smaller-company stocks dipped 1.38 points, or 0.1 percent, to 1,714.32.

Apple climbed 2.4 percent to $226.41 and Qualcomm rose 4 percent to $74.61 after it announced a $16 billion stock repurchase. Other chipmakers including Skyworks and Broadcom also rose.

Insurance companies reversed their recent loses and home improvement retailers slipped as Hurricane Florence weakened somewhat. The slow-moving storm is expected to reach the East Coast Friday and might remain around the Carolinas for days, but investors figure that it won't do as much damage as previously estimated, and property insurers won't have to pay out as much.

RenaissanceRe jumped 2.7 percent to $130.95 and Everest Re climbed 3.1 percent to $220.69.

Supermarket company Kroger dropped 9.9 percent to $28.58 after its sales fell short of Wall Street forecasts.

The Department of Labor said its index of consumer prices edged up 0.2 percent in August, and it's risen 2.7 percent over the past year. That's a bit slower than the 2.9 percent it reported in July. Investors have worried that faster inflation could threaten economic growth and the current bull market.

Cable channel operator Discovery rose another 4.7 percent to $31.84. The stock jumped 7.7 percent Wednesday after the company announced a deal that will make more of its programming available on the streaming service Hulu.

The S&P 500 is divided into 11 industrial sectors that track industries like energy and health care. A few of those sectors will change before the start of trading on Sept. 24.

The new communications services group will include Facebook, Netflix, Alphabet and Twitter, as well as media companies like Disney, telecom companies like AT&T, which recently bought the media conglomerate Time Warner, and video game makers like Activision Blizzard.

The technology sector will get smaller, but it will still be the largest portion of the benchmark index. Bell, of CFRA, said the changes might cause some volatility in the stock market as funds adjust their holdings. But she said the changes should make the two sectors a bit easier to understand.

Turkey's central bank raised its key interest rate to contain the nation's currency crisis and inflation. The Turkish lira rose 4.4 percent against the U.S. dollar and Turkey's main stock index gained 2.4 percent.

President Recep Tayyip Erdogan had repeatedly and publicly pushed the bank to keep rates low. That shook investors' confidence, as they grew worried about the bank's independence and Turkey's ability to react to inflation, slowing growth, and its diplomatic spat with the U.S.

The stock indexes of Argentina, Russia and Mexico also rose. Hong Kong's Hang Seng index jumped 2.5 percent after it fell for nine of the previous 10 days.

Acorda Therapeutics dropped 2.4 percent to $18.05 after announcing that the Food and Drug Administration will take three more months to review its inhaled Parkinson's disease treatment Inbrija.

The stock sank 25 percent Monday after Acorda said an appeals court ruled that four patents on its drug Ampyra are not valid, paving the way for other companies to sell their own versions. The stock has plunged 34 percent over an eight-day losing streak.

Benchmark U.S. crude slid 2.5 percent to $68.59 a barrel in New York. It jumped 4.3 percent over the previous two days. Brent crude, used to price international oils, shed 2 percent to $78.18 a barrel in London.

Wholesale gasoline fell 2.1 percent to $1.99 a gallon. Heating oil lost 1.5 percent to $2.22 a gallon. Natural gas slipped 0.4 percent to $2.82 per 1,000 cubic feet.

Bond prices ticked lower. The yield on the 10-year Treasury note rose to 2.97 percent from 2.96 percent.

The dollar rose to 111.88 yen from 111.22 yen. The euro rose to $1.1692 from $1.1632.

Gold fell 0.2 percent to $1,208.20 an ounce. Silver dipped 0.3 percent to $14.24 an ounce. Copper rose 0.3 percent to $2.68 a pound.

The German DAX added 0.2 percent and France's CAC 40 slipped 0.1 percent. In Britain, the FTSE 100 fell 0.4 percent.

Japan's benchmark Nikkei 225 added 1 percent and the South Korean Kospi rose 0.1 percent.


----------



## bigdog

https://finance.yahoo.com/news/us-stocks-little-changed-mixed-143504824.html

*Small-company stocks shine on an otherwise ho-hum day*




Marley Jay, AP Markets Writer
Associated PressSeptember 15, 2018


NEW YORK (AP) -- U.S. stocks hardly moved Friday as the market wrapped up a solid week. Smaller companies rose following signs of sustained economic growth and reports that more tariffs on Chinese goods could be on the way.

Stocks rose in early trading after the Federal Reserve said production of cars and energy jumped in August. The Commerce Department said sales by retailers grew only slightly in August after a big gain in July.

"It's a reflection of stronger economic growth," said Kate Warne, an investment strategist for Edward Jones. "It continues to bode well for strength going into the fall and later in the year.

Warne said she expects the U.S. economy to grow about 3 percent this year, which is what most experts are forecasting. She said growth will be a bit weaker than in 2019, but that would still be better than most of the previous years since 2009.

Bond yields jumped Friday as investors interpreted the Federal Reserve report as a sign the economy will keep growing and interest rates will keep rising. That helped bank stocks, but it hurt high-dividend stocks.

Retailers and health care stocks also took small losses.

The S&P 500 index rose 0.80 points to 2,904.98. The index rose all five days this week after a four-day losing streak last week.

The Dow Jones Industrial Average added 8.68 points to 26,154.67. The Nasdaq composite slipped 3.67 points to 8,010.04.

The combination of trade worries and positive economic news helped smaller companies, which do more business in the U.S. than larger companies do. That makes them less vulnerable to flare-ups in trade tensions. The Russell 2000 index gained 7.40 points, or 0.4 percent, to 1,721.72.

Bloomberg News reported that President Donald Trump has told aides to go ahead with tariffs on $200 billion in imports from China. The report said the administration may be having difficulty finding products it can tax that won't result in major complaints from consumers and businesses.

China said Thursday the U.S. had reached out to open a new round of trade talks. The new round of tariffs would represent a major escalation in the U.S.-China conflict, which has lasted for most of this year.

Industrial companies also rose after the Federal Reserve's report. Aerospace company Boeing jumped 1.2 percent to $359.80 and shipbuilder Huntington Ingalls gained 1.6 percent to $252.90.

The industrial data is a sign the U.S. economy is likely to keep growing, which means the Federal Reserve is likely to continue raising interest rates. It is expected to raise interest rates later this month, the third increase this year out of an expected four.

The yield on the 10-year Treasury note rose to 2.99 percent from 2.96 percent late Thursday.

Banks and financial companies rose, as higher long-term interest rates help them make more money from mortgages and other types of loans. Prudential Financial added 2.9 percent to $99.86 and SVB Financial Group LendingTree gained 1.4 percent to $319.29.

A series of gas explosions killed one person at injured at least 10 and forced evacuations in three communities north of Boston. The Massachusetts Emergency Management Agency blamed the fires on gas lines that had become over-pressurized.

They are served by Columbia Gas, a unit of NiSource. NiSource's stock plunged 11.7 percent to $24.79.

Hurricane Florence came ashore in North Carolina Friday morning, and while its winds have weakened, experts say the storm surge is a significant threat. The storm is slow moving, meaning North and South Carolina could get days of heavy rain.

While Florence could do significant damage to the region, it's not expected to have a big effect on the overall economy. Economists at IHS Markit said the hurricane might slow down growth in the third quarter a bit but would likely contribute to growth in the fourth quarter.

Shares in British Columbia marijuana company Tilray, which have made huge gains in the last two months, slumped after Politico reported that the U.S. Customs and Border Patrol may ban people who work in the marijuana industry from entering the country.

Canada is set to legalize marijuana in October and stocks in the industry have soared recently. Tilray slumped 8.9 percent to $109.05. The stock was valued at $17 when Tilray went public in July.

Two competitors, Canopy Growth and Cronos Group, continued to rise. Canopy has doubled in valued this year and Cronos is up 34 percent.

Benchmark U.S. crude added 0.6 percent to $68.99 a barrel in New York. Brent crude, used to price international oils, dipped 0.1 percent to $78.09 a barrel in London.

Wholesale gasoline lost 1.1 percent to $1.97 a gallon and heating oil fell 0.6 percent to $2.21 a gallon. Natural gas dropped 1.8 percent to $2.77 per 1,000 cubic feet.

The dollar rose to 112.03 yen from 111.88 yen. The euro slipped to $1.1632 from $1.1692.

Gold lost 0.6 percent to $1,201.10 an ounce. Silver fell 0.7 percent to $14.14 an ounce. Copper sank 1.4 percent to $2.65 a pound.

The German DAX added 0.6 percent and the French CAC rose 0.5 percent. Britain's FTSE 100 index picked up 0.3 percent.

Japan's benchmark Nikkei 225 gained 1.2 percent and South Korea's Kospi advanced 1.4 percent. Hong Kong's Hang Seng rose 1 percent.

2194


----------



## bigdog

https://www.usnews.com/news/busines...-fall-on-fears-over-us-china-tariffs-standoff

*Tech Firms Lead Slide as Trade Worries Weigh on US Stocks*
A slide in technology companies helped pull U.S. stocks lower Monday, snapping a five-day winning streak for the market.

By ALEX VEIGA, AP Business Writer

A slide in technology companies helped pull U.S. stocks lower Monday, snapping a five-day winning streak for the market.

The sell-off came amid speculation that the Trump administration was preparing to impose tariffs on another $200 billion worth of Chinese goods. The two governments have already imposed 25 percent tariffs on $50 billion of each other's goods, and another round of tariffs would represent a significant escalation in the trade dispute between the world's two largest economies.

Investors used the prospect of a deeper U.S.-China trade conflict to take some profits, especially in technology stocks, the market's biggest gainers this year. Department stores and other consumer-focused companies also accounted for a big slice of the losses. Safe-play sectors like real estate and utilities rose. Oil prices fell, erasing early gains.

The S&P 500 index fell 16.18 points, or 0.6 percent, to 2,888.80. The Dow Jones Industrial Average lost 92.55 points, or 0.4 percent, to 26,062.12.

The tech-heavy Nasdaq composite gave up 114.25 points, or 1.4 percent, to 7,895.79. The Russell 2000 index of smaller companies fell 18.17 points, or 1.1 percent, to 1,703.55. Most stocks closed lower on the New York Stock Exchange.

The U.S. has been locked in an escalating trade dispute with China, it's biggest trading partner. Washington contends that Beijing uses predatory tactics to acquire technology know-how in an effort to overtake America's global supremacy in technology.

Over the weekend, news reports indicated that the White House was set to announce tariffs on $200 billion more in Chinese imports as soon as Monday. Beijing has said it would swiftly retaliate against additional U.S. tariffs.

The uncertainty over the trade dispute has at times roiled the market, but not derailed it from notching gains on the strength of strong corporate earnings and a growing U.S. economy. That suggests that many investors, for now, expect both sides will ultimately work out a deal.

"It's a short-term, immediate-term thorn in the market's side," said Ted Theodore, chief investment officer of TrimTabs Asset Management. "A big part of it is not knowing what the game plan is."

Technology companies led the market's slide. Apple lost 2.7 percent to $217.88, while Netflix slumped 3.9 percent to $350.35. Twitter fell 4.2 percent to $28.86 after an analyst cut the price target on the social media company.

Amazon.com lost 3.2 percent to $1,908.03 after The Wall Street Journal reported that the online retail giant is investigating suspected bribes and data leaks of its employees.

Several big department store chains declined. Macy's slid 3.1 percent to $35.16. Kohl's lost 2 percent to $79.26. Gap gave up 2.6 percent to $27.05.

Traders bid up shares in companies that got favorable news from government regulators.

Teva Pharmaceutical climbed 2.5 percent to $23.43 after the Food and Drug Administration approved the drugmaker's preventative migraine treatment.

Express Scripts jumped 3.7 percent to $95.23 after regulators cleared the way for Cigna to buy it. Cigna rose 1.4 percent to $197.84.

Bond prices were little changed. The yield on the 10-year Treasury held at 2.99 percent.

The dollar fell to 111.18 yen from 112.03 yen on Friday. The euro strengthened to $1.1686 from $1.1632.

Oil prices declined, wiping out gains from earlier in the day. Benchmark U.S. crude lost 0.1 percent to settle at $68.91 a barrel in New York. Brent crude, used to price international oils, fell 0.1 percent to close at $78.05 a barrel in London.

In other energy trading, wholesale gasoline slipped 0.3 percent to $1.98 a gallon, heating oil fell 0.1 percent to $2.21 a gallon and natural gas jumped 1.7 percent to $2.81 per 1,000 cubic feet.

Gold rose 0.4 percent to $1,205.80 an ounce. Silver added 0.6 percent to $14.22 an ounce. Copper gained 0.2 percent to $2.65 a pound.

Major stock indexes in Europe finished mostly lower. The DAX in Germany dropped 0.2 percent, while France's CAC 40 lost 0.1 percent. Britain's FTSE 100 ended flat.

In Asia, South Korea's Kospi fell 0.7 percent and Hong Kong's Hang Seng index tumbled 1.3 percent. Australia's S&P/ASX 200 rose 0.3 percent. Japanese markets were closed for a national holiday.


----------



## bigdog

https://www.usnews.com/news/busines...ecover-after-trump-orders-new-chinese-tariffs

*Stocks End Higher as Traders Shrug off New China-US Tariffs*
U.S. stocks closed solidly higher Tuesday as investors largely brushed off the Trump administration's decision to impose tariffs on an additional $200 billion of Chinese goods.

By ALEX VEIGA, AP Business Writer

Once again, Wall Street's jitters over the escalating trade dispute between the U.S. and China proved to be short-lived.

U.S. stocks closed solidly higher Tuesday as investors largely brushed off the Trump administration's decision to impose tariffs on an additional $200 billion of Chinese goods. A swift response by China, saying it will increase tariffs on $60 billion worth of U.S. goods, also didn't dampen investors' buying mood.

"The tariffs, they kind of came in as expected, but there's been this ongoing hope that this eventually will get resolved," said Erik Davidson, chief investment officer for Wells Fargo Private Bank.

Gains in technology stocks and consumer-focused companies powered Tuesday's broad rally, which reversed nearly all of the indexes' losses from a day earlier.

Bond yields climbed, sending banks higher. Energy stocks also rose along with crude oil prices.

The S&P 500 index rose 15.51 points, or 0.5 percent, to 2,904.31. The Dow Jones Industrial Average climbed 184.84 points, or 0.7 percent, to 26,246.96. The Nasdaq composite gained 60.32 points, or 0.8 percent, to 7,956.11. The Russell 2000 index of smaller companies added 7.42 points, or 0.4 percent, to 1,710.97.

The Trump administration announced late Monday that it will impose tariffs on an additional $200 billion of Chinese goods starting next Monday, potentially raising prices on goods ranging from handbags to bicycle tires. The tariffs will start at 10 percent and then climb to 25 percent on Jan. 1.

China responded by saying it will increase tariffs on $60 billion worth of U.S. goods. The move involves increases of 10 percent and 5 percent on 5,207 types of U.S. goods. A list released last month included coffee, honey and industrial chemicals.

Trump has threatened to add another $267 billion in Chinese imports to the target list in response to any retaliation by China. That would raise the total to $517 billion, covering nearly everything China sells in the United States.

Even so, there were no signs of the jitters Tuesday that caused Monday's sell-off, snapping a five-day winning streak for the S&P 500.

"Some companies will be affected, but there was an expectation that this could have been far worse," said Doug Cote, chief market strategist for Voya Investment Management.

Technology stocks accounted for much of the market's gains. Chipmaker Micron Technology climbed 4 percent to $45.33.

Apple, which received an exemption to the new tariffs on goods imported from China, added 0.2 percent to $218.24. Fitbit also benefited from some of components that the company uses to manufacture its fitness monitoring bands not being among the items subject to the new tariffs. The stock jumped 6.4 percent to $5.80.

Gains by consumer-focused companies also helped lift the market. Netflix rose 4.9 percent to $367.65.

Investors also had their eye on the latest batch of corporate earnings reports.

Cereal maker General Mills and package delivery giant FedEx declined sharply after reporting quarterly results that fell short of Wall Street's forecasts. General Mills slumped 7.6 percent to $44.13, while FedEx dropped 5.5 percent to $241.58.

Tesla slid 3.4 percent to $284.96 after Bloomberg reported that the electric car maker is being investigated by the Justice Department over public statements made by CEO Elon Musk. Early last month Musk tweeted that he had secured funding to take the company private. A couple of weeks later, he put out a statement saying the go-private deal was off.

Oil prices climbed ahead of an upcoming OPEC meeting where members will weigh how to address the loss of supply from Iran, which faces U.S. sanctions. Benchmark U.S. crude rose 1.4 percent to settle at $69.85 a barrel in New York. Brent crude, used to price international oils, gained 1.3 percent to close at $79.03 a barrel in London.

The pickup in oil prices helped send energy stocks higher. Marathon Oil climbed 3 percent to $21.50.

Bond prices fell. The yield on the 10-year Treasury rose to 3.05 percent from 3 percent late Monday. That's the highest level since May 22, when the yield hit 3.06 percent.

The dollar rose to 112.35 yen from 111.18 yen on Monday. The euro weakened to $1.1667 from $1.1686.

Gold slipped 0.2 percent to $1,202.90 an ounce. Silver lost 0.3 percent to $14.19 an ounce. Copper surged 3 percent to $2.73 a pound.

In other energy trading, heating oil climbed 1.3 percent to $2.24 a gallon, wholesale gasoline picked up 1.4 percent to $2 a gallon and natural gas jumped 4.2 percent to $2.93 per 1,000 cubic feet.

Major stock indexes in Europe closed mostly higher Tuesday. The DAX in Germany rose 0.5 percent, while France's CAC 40 added 0.3 percent. Britain's FTSE 100 was flat.

Japan's Nikkei 225 jumped 1.4 percent, while the Kospi in South Korea added 0.3 percent. Hong Kong's Hang Seng index gained 0.6 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ise-as-traders-shrug-off-new-china-us-tariffs

*US Stock Indexes Post Mixed Finish as Bond Yields Surge*
Major U.S. stock indexes finished unevenly Wednesday as gains in banks and other financial companies outweighed losses elsewhere in the market.

By ALEX VEIGA, AP Business Writer

Major U.S. stock indexes finished unevenly Wednesday as gains in banks and other financial companies outweighed losses elsewhere in the market.

Bond yields surged to the highest level in four months. That drove demand for bank stocks and triggered a sell-off in utilities, real estate companies and other high-dividend payers.

Energy stocks rose along with crude oil prices. Homebuilders declined following a mixed batch of housing data.

The surge in bond yields reflected the belief on the part of many investors that the economy is strengthening, noted Craig Birk, chief investment officer at Personal Capital.

"If the economy continues to move forward then interest rates have more room to creep higher and the Fed has more room to continue raising (short-term rates)," he said.

The S&P 500 index rose 3.64 points, or 0.1 percent, to 2,907.95. The Dow Jones Industrial Average gained 158.80 points, or 0.6 percent, to 26,405.76. The Nasdaq composite lost 6.07 points, or 0.1 percent, to 7,950.04.

Smaller companies lagged the broader market. The Russell 2000 index gave up 8.04 points, or 0.5 percent, to 1,702.93. Decliners outnumbered gainers on the New York Stock Exchange.

Trading was listless through much of Wednesday. The slight gains for the S&P 500, the market's benchmark index, added to a solid rally a day earlier, when investors shrugged off initial jitters over the latest escalation in the trade dispute between the U.S. and China.

Headlines and speculation about the trade dispute took a backseat Wednesday to the surge in bond yields.

Bond prices fell, driving the yield on the 10-year Treasury to 3.07 percent from 3.04 percent late Tuesday. That's the highest level since May 22.

When yields rise they force interest rates on mortgages and other loans higher, making it more profitable for banks to lend money. The higher bond yields drove up shares in banks and other financial stocks. Citigroup climbed 3.3 percent to $73.72.

New housing data weighed on homebuilder stocks. The Commerce Department said residential construction rebounded in August at the fastest pace in seven months. However, applications for new building permits, a forward-looking indicator, plunged. Homebuilders declined, giving up early gains. William Lyon Homes slid 3.4 percent to $18.65.

"As we're watching the data unfold here in the third quarter we think we may be, if not already passed the peak, passing the peak in terms of the economic acceleration here domestically," said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. "You look at the housing data from today and there's some signs of that."

A pickup in crude oil prices helped send energy stocks higher. Newfield Exploration gained 4.4 percent to $28.91.

Oil prices rose on data showing U.S. crude oil inventories fell last week and are now running at about 3 percent below the five-year average for this time of year.

All told, benchmark U.S. crude climbed 1.8 percent to settle at $71.12 a barrel in New York. Brent crude, used to price international oils, gained 0.5 percent to close at $79.40 a barrel in London.

Traders bid up shares in Fitbit after the maker of wearable exercise trackers launched a platform that offers personalized coaching. The company also announced a partnership with Humana to potentially give the insurer's 5 million members access to the platform. Fitbit gained 5.3 percent to $6.11.

Praxair climbed 3.9 percent to $164.37 on news reports that the industrial gases company is moving closer to U.S. antitrust approval of its merger with Germany's Linde.

Copart slumped 13.4 percent to $55.58 after the operator of online vehicle auctions reported earnings that fell short of analysts' estimates.

The dollar fell to 112.27 yen from 112.35 yen on Tuesday. The euro strengthened to $1.1674 from $1.1667.

Gold rose 0.4 percent to $1,208.30 an ounce. Silver gained 0.7 percent to $14.28 an ounce. Copper was little changed at $2.73 a pound.

In other energy trading, heating oil rose 0.5 percent to $2.25 a gallon, wholesale gasoline picked up 0.8 percent to $2.02 a gallon and natural gas fell 0.9 percent to $2.91 per 1,000 cubic feet.

Major stock indexes in Europe finished higher. Germany's DAX gained 0.5 percent, while France's CAC 40 rose 0.6 percent. Britain's FTSE 100 added 0.4 percent.

In Asia, Japan's benchmark Nikkei 225 added 1.1 percent, while Australia's S&P/ASX 200 gained 0.5 percent. Hong Kong's Hang Seng rose 1.2 percent. South Korea's Kospi finished virtually unchanged.


----------



## bigdog

https://www.usnews.com/news/busines...rack-mixed-finish-on-wall-street-over-tariffs

*Stocks at Records; Dow Beats All-Time High From January*
Wall Street delivered another set of milestones as a wave of buying sent U.S. stocks solidly higher, driving the Dow Jones Industrial Average above the all-time high it closed at in January.

By ALEX VEIGA, AP Business Writer

Wall Street delivered another set of milestones Thursday as a wave of buying sent U.S. stocks solidly higher, driving the Dow Jones Industrial Average above the all-time high it closed at in January.

The S&P 500, the benchmark for many index funds, also hit a new high, eclipsing the peak it reached last month.

Technology stocks, banks and health care companies accounted for much of the broad rally. Energy companies declined along with crude oil prices.

A weaker dollar, which helps U.S. exporters, and a mix of mostly encouraging economic reports helped put investors in a buying mood, a turnaround from earlier in the week when the U.S. and China each announced a new round of tariffs on each other's goods, triggering a sell-off.

"Some of the economic data that came out today continued to show strength," said Lindsey Bell, an investment strategist with CFRA. "Given the strength in the economy, backed by the stimulus from tax reform as well as just fiscal stimulus in general, that should be able to offset some of the impact that we're going to get from tariffs as we go into the end of the year."

The S&P 500 index rose 22.80 points, or 0.8 percent, to 2,930.75. The Dow gained 251.22 points, or 1 percent, to 26,656.98. The Nasdaq composite climbed 78.19 points, or 1 percent, to 8,028.23. The Russell 2000 index of smaller companies picked up 17.25 points, or 1 percent, to 1,720.18.

The road to the latest records was hardly smooth. Shortly after the Dow's all-time high in January, the market plunged in February and again in March, at one point bringing the index down 11.6 percent from its January peak. Investors worried about rising interest rates and the potential impact of the U.S.-China trade dispute on the big industrial companies that are part of the Dow.

With the Federal Reserve having clearly signaled its policy — gradual rate increases, including two more this year — and the U.S. economy gaining strength, the market has recently taken the trade tremors in stride and pushed the Dow and S&P 500 to new highs.

The Dow is now up 7.8 percent for the year, while the S&P 500 is up 9.6 percent. The gains have helped boost investors' stock holdings.

The Federal Reserve said Thursday that the value of Americans' stock and mutual fund portfolios rose $800 billion last quarter, helping to boost U.S. household wealth to a record $106.9 billion in the April-June quarter. At the same time, stock market wealth has been flowing disproportionately — and increasingly — to the most affluent households. The richest one-tenth of Americans own about 84 percent of the value of stocks.

The Dow and S&P 500 were on course to set record highs from the get-go Thursday as investors pored through a batch of economic data.

The Labor Department's weekly tally of applications for unemployment aid was lower than expected, with claims slipping last week to 201,000. That's the lowest level since November 1969.

An economic index from the Federal Reserve's bank in Philadelphia also topped forecasts, and the Conference Board's index of leading economic indicators, designed to anticipate economic conditions three to six months out, rose 0.4 percent last month. While that came in slightly below forecasts, it still suggests the economy is on sure footing, said Tracie McMillion, global head of asset allocation for Wells Fargo Investment Institute.

"With a (reading) that high it's very unlikely that there's a recession on the horizon," McMillion said. "The U.S. market is responding to this foundation of economic strength. Pair that with a dollar that has started to depreciate a little bit and that's good news for U.S. companies that trade abroad."

A weaker dollar is particularly favorable for large-cap companies that do business overseas, because it makes their products more competitive.

The dollar rose to 112.48 yen from 112.27 yen on Wednesday. In other currency trading, the euro strengthened to $1.1776 from $1.1674. The British pound climbed to $1.3268 from $1.3145.

Mixed data on U.S. home sales and mortgage rates weighed on homebuilding stocks.

The National Association of Realtors said sales of previously occupied homes were flat in August after declining the previous four months. Separately, mortgage buyer Freddie Mac said the average rate on 30-year, fixed-rate mortgages jumped to 4.65 percent this week, the highest level since May.

William Lyon Homes tumbled 7.8 percent to $17.20.

Starting Monday, the U.S. will place a 10 percent tariff on another $200 billion worth of Chinese goods. The tariffs will rise to 25 percent on Jan 1. Beijing has said it would take "counter measures," which includes hitting $60 billion worth of U.S. imports, including coffee, honey and industrial chemicals, with retaliatory taxes.

"Part of why you're seeing such significant upside today is the amount of the tariffs was less than expected," Bell said. "The market is still optimistic that we will resolve this issue, perhaps not before the midterm (elections), but hopefully before the end of the year."

Some of the biggest gains Thursday went to technology companies. Apple gained 0.8 percent to $220.03, while Microsoft climbed 1.7 percent to $113.57.

Health care companies also posted solid gains. Cardinal Health rose 2.3 percent to $55.17.

Canadian marijuana producer Tilray slumped 17.6 percent to $176.35 a day after the stock soared 38 percent.

Bond prices rose. The yield on the 10-year Treasury fell to 3.06 percent from 3.08 percent late Wednesday.

Gold rose 0.2 percent to $1,211.30 an ounce. Silver gained 0.2 percent to $14.31 an ounce. Copper added $0.4 percent to $2.74 a pound.

Benchmark U.S. crude fell 0.4 percent to settle at $70.80 a barrel in New York. Brent crude, used to price international oils, dropped 0.9 percent to close at $78.70.

In other energy trading, heating oil gave up 0.8 percent to $2.23 a gallon, wholesale gasoline lost 0.4 percent to $2 a gallon and natural surged 2.3 percent to $2.98 per 1,000 cubic feet.

Major indexes in Europe also notched solid gains Thursday. Germany's DAX rose 0.9 percent, while France's CAC 40 climbed 1.1 percent. Britain's FTSE 100 added 0.5 percent.

Markets in Asia were mixed. Japan's Nikkei 225 finished flat. The Kospi in South Korea added 0.7 percent. Hong Kong's Hang Seng index rose 0.3 percent. Australia's S&P/ASX 200 dropped 0.3 percent. Shares fell in Taiwan but rose in Indonesia, Thailand and Singapore.


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## bigdog

https://www.usnews.com/news/business/articles/2018-09-21/asian-stocks-follow-wall-street-higher

*Dow Hits Another All-Time High on Mixed Day for US Stocks*
Wall Street capped a milestone-setting week Friday with a mixed finish for the major U.S. stock indexes and the second all-time high in two days for the Dow Jones Industrial Average.

By ALEX VEIGA, AP Business Writer

Wall Street capped a milestone-setting week Friday with a mixed finish for the major U.S. stock indexes and the second all-time high in two days for the Dow Jones Industrial Average.

An afternoon sell-off erased modest gains for the S&P 500 that had the benchmark index on track to eke out its own record high for much of the day.

Losses for technology companies and retailers, two of the market's hottest sectors this year, offset gains in energy and industrial stocks.

"When you have a big up week like we've had, we're at all-time highs, for people to take a little bit of risk off the table going into the weekend isn't a big surprise," said Randy Frederick, vice president of trading and derivatives at Charles Schwab.

The S&P 500 index dropped 1.08 points, or 0.04 percent, to 2,929.67, just under its latest all-time high set a day earlier. The Dow gained 86.52 points, or 0.3 percent, to 26,743.50, thanks largely to gains in Boeing and McDonald's.

The Nasdaq composite lost 41.28 points, or 0.5 percent, to 7,986.96. The Russell 2000 index of smaller companies gave up 7.87 points, or 0.5 percent, to 1,712.32.

The Dow and S&P 500 each ended the week with their 10th weekly gain in the past 12 weeks.

Coming off Thursday's record-setting rally, trading was listless for much of Friday. A couple of factors may have contributed to the market's late-afternoon pullback.

Friday was "quadruple witching" day, when options and futures contracts expire, which often results in heavy trading.

Also, next Monday the S&P 500 is changing the lineup of the 11 company sectors that make up the benchmark index. Technology giants Google and Facebook will join Netflix and 15 other companies in a new communications services sector.

The change forces exchange-traded funds, or ETFs, and other funds that track the S&P 500's sectors to make trades to reflect the new alignment of the index.

"There's probably some selling going on in ETFs and mutual funds right now and also probably on Monday," Frederick said.

Micron Technology was among the biggest decliners in the technology sector. The chipmaker said Friday its profits would be hurt by new tariffs on Chinese imports that go into effect next week. Shares in the company slid 2.9 percent to $44.74.

The trade dispute between the U.S. and China is set to escalate Monday. That's' when an additional 10 percent tax on $200 billion of Chinese imports kicks in. The tariffs will rise to 25 percent on Jan 1. Beijing has said it would retaliate by imposing tariffs of 5 or 10 percent on $60 billion of U.S. goods including coffee, honey and industrial chemicals.

Still, investors have been taking the potential negative impact of the trade dispute in stride this week, drawing comfort from the latest signs that the economy is on solid ground and driving the market higher.

"Finally, the market has shrugged off all the trade war fears," said Karyn Cavanaugh, senior markets strategist at Voya Investment Management. "The robustness of the economy just won't be put down."

Other sectors fared better Friday. Several airlines notched gains, part of a broad pickup in industrial sector stocks. American Airlines Group climbed 4.1 percent to $43.60 after the company said it will raise fees for checked bags. The move came a day after Delta Air Lines announced its own plans to raise baggage fees. Delta shares added 2.5 percent to $59.61. Southwest Airlines rose 2 percent to $63.77.

Mazor Robotics surged 10.2 percent to $58.15 after the surgical guidance system maker agreed to be bought by Medtronic for $1.54 billion.

Benchmark U.S. crude gained 0.7 percent to settle at $70.78 a barrel in New York. Brent crude, used to price international oils, added 0.1 percent to close at $78.80 a barrel in London.

The rise in crude oil prices sent many energy stocks higher. Cimarex Energy rose 2.1 percent to $92.34.

Shares in Duke Energy slid 1 percent to $79.82 after floodwaters inundated lake a large lake near a retired coal-fired power plant, raising concerns of a potential breach.

Bond prices were little changed. The yield on the 10-year Treasury held steady at 3.07 percent.

The dollar rose to 112.52 yen from Thursday's 112.48 yen. The euro edged down to $1.1747 from $1.1776. The British pound weakened to $1.3078 from $1.3268 after British Prime Minister Theresa May said talks over exiting the European Union are at an impasse.

Gold fell 0.8 percent to $1,201.30 an ounce. Silver gained 0.4 percent to $14.36 an ounce. Copper surged 4.3 percent to $2.86 a pound.

In other energy trading, heating oil gave up 0.1 percent to $2.23 a gallon, wholesale gasoline added 0.1 percent to $2.02 a gallon and natural gas was little changed at $2.98 per 1,000 cubic feet.

Major stock indexes in Europe posted solid gains Friday. Germany's DAX added 0.8 percent, while France's CAC 40 rose 0.8 percent. London's FTSE 100 index climbed 1.7 percent.

In Asia, markets closed mostly higher. Hong Kong's Hang Seng gained 1.7 percent and Tokyo's Nikkei 225 rose 0.8 percent. Seoul's Kospi added 0.7 percent. Sydney's S&P-ASX 200 picked up 0.4 percent.

2579


----------



## bigdog

*Markets in Shanghai, Taiwan, Japan and South Korea were closed for national holidays.*







https://www.usnews.com/news/busines...-fall-on-reports-china-us-trade-talks-put-off

*Global Stocks Dip on Report China Calls off US Trade Talks*
Global stock markets slip after the US and China officially put new tariffs on each other's goods and China reportedly rebuffed a plan for talks with the U.S. Industrial and basic materials companies fall.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Global stocks took small losses Monday after China reportedly pulled out of trade talks with the U.S. Industrial companies and banks suffered some of the worst declines among American stocks.

The U.S. and China officially began taxing larger amounts of each other's goods Monday, and the Wall Street Journal reported that China pulled out of talks that could have led to a new round of negotiations to end the trade war.

The U.S. is now taxing another $200 billion in Chinese imports at a rate of 10 percent, and China added taxes of 5 to 10 percent on $60 billion in U.S. products. Oil prices jumped after OPEC decided not to produce more oil.

Technology and health care companies rose, leaving U.S. indexes only slightly lower.

"The market's been remarkably resilient over the last couple of months while trade tensions were heating up," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.

Sandven said the trade spat will endure past the midterm elections in November, but stocks are likely to keep rising because of strong earnings growth for U.S. companies, combined with low inflation and low interest rates.

The S&P 500 index fell 10.30 points, or 0.4 percent, to 2,919.37. The Dow Jones Industrial Average lost 181.45 points, or 0.7 percent, to 26,562.05. Both the S&P 500 and Dow set record highs last week.

The Russell 2000 index of smaller-company stocks dropped 7 points, or 0.4 percent, to 1,705.32. The Nasdaq composite rose 6.29 points, or 0.1 percent, to 7,993.25.

After a volatile stretch early this year, the S&P hasn't risen or fallen 1 percent in a day since late June.

Sandven noted that this year's stock gains have been concentrated in technology, retail and health care companies. That was the case Monday, as Apple gained 1.4 percent to $220.79 and drug and infant formula maker Abbott Laboratories advanced 3.5 percent to $71.44. Sandven said it would be an encouraging sign for the market if other sectors do better.

U.S. investors were occupied with other news. OPEC and key allies like Russia decided not to increase their oil output further. Production is falling in some OPEC nations, including Iran, which faces new sanctions from the U.S.

Benchmark U.S. crude gained 1.8 percent to $72.08 a barrel in New York while Brent crude, the international standard for oil prices, rose 3 percent to $81.20 a barrel in London, its highest price in more than three years.

Airlines and other transportation companies fell as investors anticipated they will have to pay higher prices for fuel.

Late Friday Comcast won an auction for majority control of British satellite TV giant Sky. Its final offer was worth about $39 billion and topped an offer from Twenty-First Century Fox, which is already a major Sky shareholder.

In London, Sky shares jumped 8.6 percent. Comcast sank 6 percent to $35.63, while Fox rose 1.5 percent to $45.01. Disney, which is buying Fox, climbed 2.1 percent to $112.77.

Barrick Gold will buy competitor Randgold Resources for $6.1 billion in stock. The merged company will combine Randgold's African mines with Barrick's holdings in the Americas to form the world's largest gold miner.

Barrick rose 5.4 percent to $11.04 and Randgold gained 6.6 percent to $68.14.

Subscription radio company Sirius XM says it's buying music streaming service Pandora Media. The deal will expand its service beyond cars and into homes and other areas. The companies valued the deal at about $3.5 billion in stock.

Sirius sank 10.3 percent to $6.26 and Pandora slid 1.2 percent to $8.98.

An Italian newspaper reported that the Versace group is on the verge of announcing that it will be acquired, and Bloomberg and Reuters reported that luxury fashion and handbag maker Michael Kors is the buyer. The Italian publication, Corriere della Sera, said the deal is worth 2 billion euros ($2.4 billion).

Michael Kors stock skidded 8.2 percent to $66.71.

Markets in Europe edged lower while Asian indexes took sharper losses. Germany's DAX fell 0.6 percent and the CAC 40 in France lost 0.3 percent. The FTSE 100 in Britain dipped 0.4 percent. Hong Kong's Hang Seng index fell 1.6 percent and India's Sensex gave up 1.5 percent. Markets in Japan and South Korea were closed for national holidays.

Marijuana-related companies continued to make dramatic moves. Biotechnology company Intrexon soared 31.5 percent to $19.07 in heavy trading after it said it engineered a strain of yeast to produce chemical compounds found in marijuana consistently and at low cost. Scientists say that's been a problem in researching the drug.

Canadian medical marijuana company Tilray sank 19.1 percent to $99.50, its third consecutive big loss. Before that, the stock's value nearly tripled over the course of a week and a half.

Bond prices fell. The yield on the 10-year Treasury note rose to 3.08 percent from 3.06 percent.

In other commodities trading, wholesale gasoline rose 1.9 percent to $2.05 a gallon. Heating oil added 2.7 percent to $2.29 a gallon. Natural gas gained 2 percent to $3.04 per 1,000 cubic feet.

Gold added 0.3 percent to $1,204.40 an ounce. Silver lost 0.1 percent to $14.34 an ounce. Copper fell 0.8 percent to $2.84 a pound.

The dollar rose to 112.73 yen from 112.52 yen. The euro edged up to $1.1758 from $1.1747.


----------



## bigdog

Markets in Hong Kong and Seoul were closed for holidays.






https://www.usnews.com/news/busines.../asian-stocks-lower-on-us-china-trade-worries

*Higher Interest Rates and Oil Prices Send US Stocks Lower*
U.S. indexes finished mostly lower as oil prices rise further, which helped energy stocks but hurts transportation companies.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Major U.S. indexes finished mostly lower Tuesday as rising interest rates hurt stocks that pay big dividends and higher oil prices pushed transportation and shipping companies lower. The S&P 500 index fell for the third day in a row.

Oil prices continued to rise after a weekend meeting of OPEC and its allies ended without an increase in oil production. That's helped energy companies, but it is pressuring airlines and other companies that will have to pay more for fuel. Higher oil prices can also ripple through the economy and increase inflation, and that's helped push interest rates higher this week.

On Wednesday the Federal Reserve is expected to increase its benchmark interest rate for the third time this year. Investors have been sure for months that the Fed would raise rates at this meeting, so they'll be focusing on the Fed's economic projections and Chairman Jay Powell's press conference afterward.

"He'll want to say as little as possible about tariffs, about fiscal policy, and say as little as possible about any advice the president may be giving him and the Federal Reserve about how to run monetary policy," said David Kelly, chief global strategist for JPMorgan Funds. But Kelly said the reporters will likely probe Powell's views on all of those topics.

The S&P 500 fell 3.81 points, or 0.1 percent, to 2,915.56. The Dow Jones Industrial Average lost 69.84 points, or 0.3 percent, to 26,492.21. The Nasdaq composite added 14.22 points, or 0.2 percent, to 8,007.47. The Russell 2000 index of smaller-company stocks gained 3.49 points, or 0.2 percent, to 1,708.80.

Bond prices kept falling as the Fed meeting began, sending yields higher. The yield on the 10-year Treasury note rose to 3.10 percent from 3.07 percent a day earlier.

Rising bond yields tend to hurt high-dividend companies, which many income-seeking investors see as substitutes for bonds. Among utilities, Southern Co. fell 2.5 percent to $42.73 and consumer goods maker Procter & Gamble lost 1.4 percent to $83.12.

Stocks usually do well when the Fed starts to raise interest rates because the higher rates reflect solid economic growth, which is associated with strong company profits. But as the rate increases continue, in line with the Fed's goal of keeping inflation in check, the effect on stocks can become negative as economic growth slows.

Oil prices have climbed recently because OPEC isn't producing more oil, while Iran is exporting less after the U.S. withdrew from the international nuclear deal with Iran and announced more sanctions on the country.

Benchmark U.S. crude rose 0.3 percent to $72.28 a barrel in New York. Brent crude, the standard for international oil prices, rose 0.8 percent to $81.87 a barrel in London. Brent crude is at its highest price since November 2014.

ConocoPhillips rose 1.4 percent to $78.11 and Philips 66 added 1.3 percent to $114.88.

Drive-in restaurant chain Sonic jumped 18.7 percent to $43.46 after it agreed to be bought by Inspire Brands, which also owns Arby's and Buffalo Wild Wings. The purchase values Sonic at $43.50 a share, or $1.57 billion. Inspire Brands is controlled by the private equity firm Roark Capital.

XO Group, which runs the wedding marketplace The Knot, jumped 26.3 percent to $34.91 after it accepted a $907 million offer from two funds that own its competitor WeddingWire.

Companies around the world have announced $3.26 trillion in deals this year, according to Dealogic, far above the $2.49 billion in deals that were struck over the first three quarters of 2017. The recent U.S. corporate tax cut and low interest rates have contributed to that trend.

If the Fed does raise interest rates Wednesday, it would be the ninth increase since late 2015 and would take the benchmark rate to a range of 2 percent to 2.25 percent, with another increase expected this year and more to come in 2019.

Wholesale gasoline added 0.6 percent to $2.07 gallon. Heating oil rose 0.8 percent to $2.31 a gallon. Natural gas rose 1.4 percent to $3.08 per 1,000 cubic feet.

Gold rose 0.1 percent to $1,205.10 an ounce. Silver gained 1.1 percent to $14.49 an ounce. Copper fell 0.4 percent to $2.82 a pound.

The dollar rose to 112.93 yen from 112.73 yen. The euro rose to $1.1767 from $1.1758.

The British FTSE 100 index rose 0.7 percent. The DAX in Germany added 0.2 percent and France's CAC 40 gained 0.1 percent.

Tokyo's Nikkei 225 gained 0.3 percent and the Sensex in India slipped 0.1 percent. Markets in Hong Kong and Seoul were closed for holidays.


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## bigdog

*Fed Raises Rates for 3rd Time This Year With 1 More Expected*
Fed raises rates for 3rd time this year amid strong economy, signals another hike in 2018, 3 more next year.






https://www.usnews.com/news/busines...kets-rally-ahead-of-expected-us-fed-rate-hike

*US Stocks Dip After Federal Reserve Raises Rates*
U.S. stock indexes are wavering between gains and losses after the Federal Reserve raised interest rates for the third time this year in the face of the strengthening economy.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stock indexes dipped Wednesday after the Federal Reserve took the latest step in its campaign to pull interest rates gradually higher.

The decision to raise the federal funds rate for a third time this year was widely expected, and stocks initially climbed following the announcement. But the gains faded in the last 30 minutes of trading after Fed Chairman Jerome Powell finished speaking at a news conference. The sharpest losses came from financial stocks, hurt by a drop in Treasury yields, which can crimp lending profits for banks.

The S&P 500 fell 9.59 points, or 0.3 percent, to 2,905.97 after being up as much as 0.5 percent earlier in the day. The Dow Jones industrial average fell 106.93, or 0.4 percent, to 26,385.28, and the Nasdaq composite lost 17.11, or 0.2 percent, to 7,990.37.

Powell said that the U.S. economy is in a "particularly bright moment," which would point to continued increases in rates. But he also said that inflation doesn't seem likely to spike, which would allow the Fed to continue on its gradual path to raise rates off the record lows they set following the 2008 financial crisis.

Investors spent the most energy Wednesday parsing over a phrase that the Fed dropped from its written statement following its rate decision, one that has been included for years, about how the central bank is being "accommodative" and keeping rates low. Did that mean the Fed would shade toward being less aggressive or more?

But Powell said in the press conference that losing the phrase was not a signal of any change in policy expectations.

Investors closely follow every clue about interest rates, which affect the flow of money and the broad economy, because high rates in the past have been the death knell for economic expansions and bull runs for stocks. But analysts say markets can continue to climb as long as this rise in rates is gradual.

"We have more room to run in this economic cycle," said Jon Adams, senior investment strategist for BMO Global Asset Management.

The Fed indicated Wednesday that it expects to raise rates one more time this year, three times in 2019 and once in 2020.

Treasury yields dipped on Wednesday, a step back from their steady rise this year.

The yield on the 10-year Treasury note fell to 3.05 percent from 3.10 percent late Tuesday. It had been close to its highest level since 2011. The two-year Treasury yield, which more closely tracks movements by the Fed, dipped to 2.82 percent from 2.83 percent.

Brian Nick, chief investment strategist at Nuveen, said that it was puzzling that both stocks and bond yields fell following the Fed's move. Usually, when investors think the Fed is going to become more aggressive about raising interest rates, stocks fall but bond yields rise.

Nick said the reaction may be a result of the new 2021 forecasts the Fed gave for the unemployment rate and GDP growth.

Among stocks in the S&P 500, the biggest drop came from Cintas, which provides workers' uniforms, restroom supplies and other products to companies. The company reported better earnings for the latest quarter than analysts expected, but growth in rentals fell short of some forecasts. Cintas lost $11.80, or 5.5 percent, to $201.16.

On the winning side was SurveyMonkey's parent company, SVMK, which surged in its first day of trading. After pricing its initial public offering of stock at $12 per share, SVMK jumped as high as $20.00 during the morning. It closed at $17.24, up 43.7 percent.

In markets abroad, European indexes were mostly steady. France's CAC 40 added 0.6 percent, while Germany's DAX rose 0.1 percent. Britain's FTSE 100 was also up 0.1 percent.

In Asia, Japan's Nikkei 225 rose 0.4 percent, and the Hang Seng in Hong Kong jumped 1.2 percent.

Benchmark U.S. crude oil fell 1 percent to $71.57 per barrel. Brent crude, the international standard, lost 0.6 percent, to $81.34.

In other energy trading, wholesale gasoline fell 0.4 percent to $2.06 a gallon, heating oil slipped 0.2 percent to $2.30 a gallon and natural gas dropped 2 percent to $3.02 per 1,000 cubic feet.

Gold dropped 0.5 percent to $1,199.10 an ounce. Silver fell 0.6 percent to $14.40 an ounce and copper was little changed at $2.83 a pound.

The dollar dipped to 112.85 Japanese yen from 112.93 yen late Tuesday. The euro slipped to $1.1762 from $1.1767, and the British pound fell to $1.3184 from $1.3186.


----------



## bigdog

https://www.usnews.com/news/busines...shares-mixed-after-us-fed-lifts-interest-rate

*US Stocks Break Four-Day Losing Skid as Apple, Amazon Climb*
Stocks make modest gains on Wall Street as Apple and Amazon, the two most valuable companies on the U.S. market, lead major indexes higher following a four-day losing streak.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — After four days of modest losses, Apple and Amazon led the U.S. stock market to small gains on Thursday. Internet and health care companies rose while mining companies fell with metals prices.

Apple and Amazon are the two most valuable U.S. companies, and analysts said each stock should keep climbing. Other market favorites including Facebook and Google parent Alphabet also rose.

Interest rates slipped for a second day, which led to losses for banks, while the stronger dollar weighed on metals prices and on shares of the companies that mine those metals. Smaller companies, which have struggled in September, also fell.

Scott Wren, senior global equity strategist for the Wells Fargo Investment Institute, said investors have been reluctant to get back into the stock market since the 2008-09 recession, and there are signs that's changing.

"Retail investors have been underinvested for this whole expansion," he said. "The economy is decent. The market is correctly pricing in a relatively low possibility of an all-out trade war."

The S&P 500 index rose 8.03 points, or 0.3 percent, to 2,914. Despite its recent losing streak, the benchmark index is up more than 7 percent since the end of June. With one day left in the third quarter, the S&P 500 is on track for its best quarter since the end of 2013.

The Dow Jones Industrial Average gained 54.65 points, or 0.2 percent, to 26,439.93. The Nasdaq composite climbed 51.60 points, or 0.6 percent, to 8,041.97. The Russell 2000 index of smaller-company stocks dipped 1.08 points, or 0.1 percent, to 1,690.53.

Apple rose after JPMorgan Chase analyst Samik Chatterjee said the stock could climb another 20 percent by the end of next year. Chatterjee said the company was successfully building up its services businesses such as music and payments, which could bring in 20 percent of Apple's annual revenue in the next few years. Chatterjee said the company might make acquisitions in the gaming, automotive or smart speaker businesses.

Apple rose 2.1 percent to $224.95. Elsewhere in the technology sector, Salesforce.com rose 1.3 percent to $160.43. Internet companies also rose. Alphabet rose 1.1 percent to $1,207.36 and Facebook rose 1.1 percent to $168.84.

Amazon rose 1.9 percent to $2,012.98 after Stifel analyst Scott Devitt forecast more revenue for its retail, advertising and web services units and raised his price target to $2,525 a share. That would value Amazon at about $1.2 trillion.

Wren, of Wells Fargo, said many smaller investors have been reluctant to put too much money in the stock market, and with more U.S. workers nearing retirement age, that is probably not going to change. Some experts worry when retail investors hurry into the market because it can be a sign stock prices are going to get too high. But Wren said he's not concerned about that possibility yet.

Bed Bath & Beyond plunged 21 percent to $14.86 after the home goods and furnishings company reported earnings that fell far short of what analysts were expecting. The company also lowered its profit forecast for the rest of the year and said it expects lower sales. Its stock closed at its lowest price since March 2000 and has dropped from $75 in less than four years.

Several other companies that reported quarterly results also traded lower. Conagra Brands, the parent of Chef Boyardee and Hebrew National, fell 8.5 percent to $32.98 after its profit and sales fell short of Wall Street projections. Cruise line operator Carnival gave up 4.8 percent to $63.74 after it said prices for recent bookings have been lower than they were a year ago.

Tesla took a small loss during the day and then dropped 6.1 percent in aftermarket trading after the Securities Commission filed a complaint against CEO Elon Musk. The complaint says Musk made false statements about a plan to take the electric car maker private.

Benchmark U.S. crude rose 0.8 percent to $72.12 per barrel in New York while Brent crude, used to price international oils, added 0.5 percent to $81.72 per barrel in London.

Wholesale gasoline rose 1.2 percent to $2.08 a gallon. Heating oil gained 1 percent to $2.32 a gallon. Natural gas rose 2.6 percent to $3.06 per 1,000 cubic feet.

Bond prices rose again. The yield on the 10-year Treasury note fell to 3.05 percent from 3.06 percent.

The ICE U.S. Dollar index climbed 0.8 percent, which pushed metals prices lower. Gold slid 1 percent to $1,187.40 an ounce. Silver lost 0.8 percent to $14.29 an ounce. Copper fell 1.6 percent to $2.78 a pound.

The dollar rose to 113.42 yen from 112.85 yen. The euro fell to $1.1658 from $1.1762.

The FTSE 100 index in Britain rose 0.5 percent, as did France's CAC 40. Germany's DAX gained 0.4 percent. But Italy's FTSE MIB fell 0.6 percent and Italian government bond prices rose as the new government met to discuss its spending plans. Some investors appear concerned Italy will break eurozone budget rules on to satisfy election promises.

Japan's Nikkei 225 dropped 1 percent and South Korea's Kospi, which reopened after a national holiday, added 0.7 percent. Hong Kong's Hang Seng index slipped 0.4 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ian-shares-rebound-on-strong-us-economic-data

*Stocks Close Out Best Quarter in 5 Years on a Quiet Note*
US stocks finish mixed Friday as chipmakers and energy companies rise but banks and European stocks fall after Italy's government announces a big increase in spending.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks ended back where they started Friday as the stock market wrapped up its best quarter in almost five years. Electric car maker Tesla plunged after federal regulators moved to oust CEO Elon Musk following his tweet last month saying that he was close to a deal to take Tesla private.

Health care companies did better than any part of the market during the third quarter and they continued to rise Friday, while technology companies rose as chipmakers also traded higher. Facebook said it discovered a security breach in which 50 million accounts were accessed by unknown attackers, and its stock fell again, ending its worst quarterly run in six years.

Global banks fell and European stocks skidded after Italy's new government announced a big increase in spending. Italy's main stock index fell almost 4 percent as investors worried that the government's plan will lead to a clash with European Union leaders who want Italy to reduce its debt level.

Through the third quarter, pain in other markets led to gains for U.S. stocks, and that was true again Friday. The S&P 500 rose 7.2 percent, its biggest increase since the end of 2013.

One reason is that investors are worried about other regions, especially emerging markets. The currencies of Turkey and Argentina both dropped during the quarter and investors worried that their currency and economic problems would harm the rest of the world.

"Investors do pivot to the U.S. when they have concerns about other regions," said Marina Severinovsky, an investment strategist at Schroders. But emerging markets stocks have bounced back somewhat over the last two weeks, and Severinovsky said they might do better than U.S. stocks in the fourth quarter.

"The pessimism around those regions is probably too much," she said.

The S&P 500 index inched down 0.02 points to 2,913.98. The Dow Jones Industrial Average rose 18.38 points, or 0.1 percent, to 26,458.31. The Nasdaq composite added 4.38 points, or less than 0.1 percent, to 8,046.35. The Russell 2000 index of smaller-company stocks gained 6.04 points, or 0.4 percent, to 1,696.57.

The spending plans announced by Italy's new government would expand its budget deficit. European Union leaders want Italy to bring down its debt level, which is the highest of any EU country after Greece.

Italy's FTSE MIB sank 3.7 percent while the German DAX gave up 1.5 percent. France's CAC 40 lost 0.8 percent and the FTSE 100 index in Britain shed 0.5 percent.

Yields on Italian government bonds rose sharply, a sign of lower investor confidence in the government's financial strength. The yield on Italy's 10-year bond jumped to 3.14 percent from 2.89 percent, a huge move.

Italian bank UniCredit sank 6.7 percent to $12.96. Among European banks, Barclays dipped 3.6 percent to $8.95. In the U.S., Goldman Sachs shed 1.5 percent to $224.24.

Tesla suffered its worst loss in almost five years. It dropped 13.9 percent to $264.77 after the Securities and Exchange said Musk committed securities fraud with his statement about taking Tesla private. The SEC launched an investigation after Musk tweeted that he had secured the funding for his transaction, but it soon became clear that the company wasn't close going private.

Musk called the action unjustified. His tweet said the company would go private at $420 per share, and the stock jumped to almost $380 that day. It's fallen 31 percent since then.

Facebook fell 2.5 percent to $164.52 after it disclosed the breach. That capped a brutal three months for social media companies. Facebook plunged 19 percent on July 26 after it said user growth had slowed, a drop that slashed Facebook's value by $119 billion, its biggest one-day loss as a public company.

Facebook fell 15 percent in the third quarter and Twitter dropped 35 percent, more than any other S&P 500 stock. Twitter was on a huge run until July 27, when it, too, it reported weak user growth. Investors also worried about the possibility of greater regulation of both companies following hearings in Congress.

"In the U.S. and Europe these companies have largely been allowed, as they've grown to the size and scale and influence that they have, to self-regulate," said Severinovsky, of Schroders. "I think that era is over."

Japan's Nikkei 225 jumped 1.4 percent after the country agreed to open negotiations on a trade agreement with the United States. The move won Japan relief from the immediate threat of punitive tariffs on its auto exports to the U.S. Hong Kong's Hang Seng index added 0.3 percent and South Korea's slipped 0.5 percent.

Energy companies rose as benchmark U.S. crude rose 1.6 percent to $73.25 per barrel in New York. Brent crude, used to price international oils, added 1.2 percent to $82.72 per barrel in London.

Gold rose 0.7 percent to $1,196.20 an ounce. Silver jumped 3 percent to $14.71 an ounce. Copper gained 0.8 percent to $2.81 a pound.

Wholesale gasoline added 0.9 percent to $2.10 a gallon. Heating oil rose 1.2 percent to $2.35 a gallon. Natural gas fell 1.6 percent to $3.01 per 1,000 cubic feet.

Bond prices were little changed. The yield on the 10-year Treasury note stayed at 3.05 percent.

The dollar rose to 113.58 yen from 113.42 yen. The euro fell to $1.1610 from $1.1658.

2924


----------



## bigdog

Markets in Hong Kong and the Chinese mainland were closed for National Day holidays.






https://www.usnews.com/news/busines...es-mixed-amid-lingering-trade-tension-worries

*Early Rally Over Canada Deal Fades, Leaving US Stocks Mixed*
Major stock indexes are ending mixed, having given up an early gain after the U.S. and Canada agreed to a new trade deal.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks barreled higher in the early going Monday after the U.S. and Canada agreed to a new trade deal, but the rally ran out of momentum later in the day, leaving major indexes mixed.

Oil prices neared four-year highs and smaller companies suffered their worst losses in three months.

Large industrial and basic materials stocks made big gains, and energy companies rose as crude oil and natural gas reached their highest prices in years. Car companies also rose as investors anticipated that tariffs on imported cars are less likely now.

Many investors saw the new trade deal, the United States-Mexico-Canada Agreement, as an update of the 1994 North American Free Trade Agreement, not a major overhaul.

"Most investors thought the NAFTA deal would end somewhat peacefully," said Mark Hackett, chief of investment research at Nationwide Investment Management. "It's an incremental positive to get it out of the news but it's not transformational."

General Electric soared after it ousted Chairman and CEO John Flannery, while Tesla reversed a big loss Friday and made its largest gain in five years after founder Elon Musk settled a lawsuit brought by securities regulators, allowing him to remain CEO.

The S&P 500 index rose as much as 23 points during the day, then finished with a gain of 10.61 points, or 0.4 percent, at 2,924.59. The Dow Jones Industrial Average jumped 192.90 points, or 0.7 percent, to 26,651.21. The Nasdaq composite lost 9.05 points, or 0.1 percent, at 8,037.30.

Mexico's main stock index rose 0.8 percent and while Canada's added 0.2 percent. Mexico and the U.S. announced a trade agreement in late August and despite a few harsh remarks by President Donald Trump and Prime Minister Justin Trudeau, experts expected Canada would join the pact, as Canada is the U.S.' second-largest trade partner and a deal without Canada would have affected the supply lines of companies in numerous industries.

The Russell 2000 index of smaller and more U.S.-focused companies sank 23.58 points, or 1.4 percent, to 1,672.99. That was its worst loss since late June. The index has lost 3.9 percent since the end of August while multinational companies, like those on the S&P 500, have moved higher.

The agreement gives U.S. dairy farmers more access to the Canadian market, and keeps a NAFTA dispute-resolution process that the U.S. wanted to eliminate. It offers Canada protection if the U.S. goes ahead with plans to impose tariffs on cars, trucks and auto parts imported into the United States. General Motors climbed 1.6 percent to $34.20.

Among industrial companies, Boeing rose 2.8 percent to $382.29 and Honeywell gained 1.1 percent to $166.44. General Electric jumped 7.1 percent after it said Flannery will be replaced by H. Lawrence Culp, the former CEO of industrial and medical device company Danaher.

Flannery took over GE from Jeffrey Immelt in 2017 and tried to return the company to its industrial roots by focusing on aviation, health care and power. Some investors wanted him to go further and felt GE should split up.

His tenure was marked by big missteps. In June GE said it would pay $15 billion to make up for miscalculations by an insurance division, and in September the company disclosed flaws in its marquee gas turbine. On Monday GE said it is taking a $23 billion charge related to its power business and will miss its annual profit target. Its stock has fallen by half over the last year.

Tesla soared 17.3 percent to $310.70 after Musk agreed to give up the chairman's role for at least three years, while Tesla will appoint two new, independent directors to its board. The stock plunged 14 percent Friday after the Securities and Exchange Commission said Musk misled investors in August with a tweet saying he had secured the funding to take Tesla private.

In a court filing, the SEC said it wanted to bar Musk from serving as an officer or director of a publicly traded company and called his actions securities fraud. Musk and Tesla are each paying $20 million to resolve the lawsuit.

Benchmark U.S. crude climbed 2.8 percent to $75.30 a barrel in New York, its highest closing price since November 2014. Brent crude, used to price international oils, added 2.7 percent to $84.98 per barrel in London. It's also trading at four-year highs.

Wholesale gasoline rose 2 percent to $2.13 a gallon. Heating oil added 2.5 percent to $2.41 a gallon. Natural gas jumped 2.9 percent to a three-year high of $3.09 per 1,000 cubic feet.

Hackett, of Nationwide, said the recent rise in oil prices is a bigger problem for small companies than it is for larger multinationals.

Bond prices fell. The yield on the 10-year Treasury note rose to 3.09 percent from 3.05 percent.

Gold fell 0.4 percent to $1,191.70 an ounce. Silver lost 1.4 percent to $14.51 an ounce. Copper slid 0.6 percent to $2.79 a pound.

The dollar rose to 113.99 yen from 113.58 yen. The euro dipped to $1.1575 from $1.1610. The Canadian dollar fell to 1.2787 from 1.2922.

Germany's DAX added 0.8 percent while the CAC 40 in France advanced 0.2 percent. Britain's FTSE 100 fell 0.2 percent. After a sharp drop Friday, Italy's FTSE MIB lost another 0.5 percent as investors worried about the new government's plan to increase spending. The index has fallen 16 percent in the last five months.

Japan's benchmark Nikkei 225 gained 0.5 percent and South Korea's Kospi gave up 0.2 percent. Markets in Hong Kong and the Chinese mainland were closed for National Day holidays.


----------



## bigdog

https://finance.yahoo.com/m/67a9714a-e9f6-3e8c-af62-a22984086205/ss_retailers-sink-as-amazon.html

*Retailers sink as Amazon raises hourly pay; Dow at a record*



Associated Press October 3, 2018

NEW YORK (AP) — Retailers sank Tuesday after Amazon said it will raise hourly wages for U.S. employees, and smaller companies continued to stumble. Several big industrial companies rose, pushing the Dow Jones Industrial Average to a record high.

Amazon, one of the largest private employers in the U.S., said it will raise the minimum wage for its U.S. workers to $15 an hour in November. Amazon also said it will advocate for an increase in the federal minimum wage, which has been $7.25 an hour since July 2009. Its stock fell, but other retailers suffered bigger losses.

"The question is, do other companies have to follow suit?" said Quincy Krosby, chief market strategist at Prudential Financial. "This is the argument that what's good for Main Street is not necessarily good for Wall Street."

The bad news for retailers didn't end there. Stitch Fix, an online clothing company, plunged 35.2 percent $28.94. Stitch Fix had almost tripled since its IPO in November.

Pepsi fell after it said the strong dollar will take a bigger chunk out of its annual profit. General Motors and Ford both fell after they reported their sales.

The S&P 500 index fell 1.16 points to 2,923.43. The Dow added 122.73 points, or 0.5 percent, to 26,773.94. The biggest gains came from industrial companies Boeing, 3M and Caterpillar.

The Nasdaq composite lost 37.75 points, or 0.5 percent, to 7,999.55. Three stocks fell for every two that rose on the New York Stock Exchange.

Amazon lost 1.6 percent to $1,971.31 while Nike lost 2 percent to $82.77 and Gap sank 4.9 percent to $27.31. Smaller consumer-focused companies fared even worse. Crocs dropped 6.8 percent to $19.59 and Guess skidded 6.7 percent to $20.69.

The Russell 2000 index of smaller-company stocks fell 16.95 points, or 1 percent, to 1,656.04, its lowest close since July 30. Earlier this year investors bought up smaller companies as tensions with trading partners flared up. Smaller companies tend to be less exposed to trade conflicts since they do more business in the U.S. than larger companies.

Investors aren't as worried about trade tensions recently, so they are shifting money out of smaller companies and into large multinationals. In the last three months the S&P 500 has climbed 7.2 percent and the Russell is essentially flat.

Krosby said rising oil and gas prices are also a problem for retailers because they could leave consumers feeling like they have less money to spend over the holiday shopping season.

Automakers fell following their sales updates. GM dipped 2.6 percent to $33.30 and Ford fell 1.3 percent to $9.20, but Toyota added 0.7 percent to $125.71. Auto parts retailers AutoZone fell 1 percent to $762.82.

Automakers had risen Monday as the trade deal with Canada appeared to reduce the chances that the industry will be harmed by tariffs on imported cars. The pact offers protection to Canada if the U.S. does impose tariffs.

Pepsi fell 1.8 percent to $108.72 after it said the stronger dollar will have a bigger effect on its earnings this year. The company is now forecasting a profit of about $5.65 per share in 2018, down from an earlier estimate of $5.70 a share.

Airlines fell after Delta's projections for the third quarter disappointed Wall Street, and the airline said it lost $30 million due to Hurricane Florence. Delta gave up 3.4 percent to $54.69 while American fell 2.8 percent to $38.50.

Italy's leaders refused to budge from new spending plans that have been worried investors, pushing the eurozone's third-largest economy on a collision course with its EU partners. Deputy Prime Minister Luigi Di Maio said Tuesday that the government won't change its plan to increase its deficit to 2.4 percent of GDP.

Italy's FTSE MIB fell 0.2 percent for its fifth loss in a row, and Italian government bond prices continued to fall, a sign investors are concerned about the country's debts. Germany's DAX lost 0.4 percent and the CAC 40 in France dropped 0.7 percent. Britain's FTSE 100 fell 0.3 percent.

Separately, the credit ratings agency Moody's warned that Europe remains highly vulnerable to another economic downturn despite all its fire-fighting efforts over the past few years.

Oil prices declined slightly after reaching four-year highs on Monday. Benchmark U.S. crude fell 0.1 percent to $75.23 in New York. Brent crude, used to price international oils, slipped 0.2 percent to $84.80 a barrel in London.

Wholesale gasoline was little changed at $2.13 a gallon and heating oil remained at $2.41 a gallon. Natural gas rose 2.3 percent to $3.17 per 1,000 cubic feet.

Gold jumped 1.3 percent to $1,207 an ounce and silver rose 1.3 percent to $14.69 an ounce. Copper gained 0.7 percent to $2.81 a pound.

The dollar fell to 113.69 yen from 113.99 yen. The euro fell to $1.1545 from $1.1575.

Bond prices edged higher. The yield on the 10-year Treasury note fell to 3.06 percent from 3.08 percent.

Hong Kong's Hang Seng tumbled 2.4 percent after it reopened following a national holiday. South Korea's Kospi lost 1.3 percent and the benchmark Nikkei 225 in Tokyo added 0.1 percent.


----------



## bigdog

*The Dow Jones Industrial Average gained 54.45 points, or 0.2 percent, to 26,828.39, another all-time high.*






https://finance.yahoo.com/m/c2f048e...28103de/ss_strong-economic-signs-lift-us.html

*Strong economic signs lift US stocks; bond prices drop*




MARLEY JAY

NEW YORK (AP) — Encouraging reports on hiring and growth in the service sector sent small companies and banks higher Wednesday and knocked bond prices into a tailspin. The yield on the benchmark 10-year Treasury note spiked to its highest level in more than seven years.

Both reports were stronger than analysts expected and suggest the economy is in good shape in spite of rising interest rates and oil prices, and the ongoing trade dispute between the U.S. and China.

"This is evidence of strong economic growth and the likelihood earnings will continue to be good," said Ameriprise Chief Market Strategist David Joy. While some experts think the economy will slow somewhat in the third and fourth quarter, Joy's view is that "we're not going to get much of a slowdown."

The S&P 500 index added 2.08 points, or 0.1 percent, to 2,925.51. *The Dow Jones Industrial Average gained 54.45 points, or 0.2 percent, to 26,828.39, another all-time high.* It was up as much as 177 points earlier. The Nasdaq composite picked up 25.54 points, or 0.3 percent, to 8,025.09.

The Russell 2000 index of small-company stocks climbed 15.25 points, or 0.9 percent, to 1,671.29. Those companies, which tend to be more focused on the U.S. market than large multinationals, stand to benefit more from strong economic growth at home. The Russell has fallen since the end of August as investors have grown less worried about trade tensions between the U.S. and other countries.

The survey on private company hiring by ADP raised expectations for the government's broader jobs report due out on Friday, which tends to have an even bigger effect on markets. The Institute for Supply Management, the trade group, said its index measuring the service sector reached the highest level in a decade.

The solid reports helped companies that do better when businesses and consumers spend more money, like technology and industrial stocks. Apple rose 1.2 percent to $232.07 and Caterpillar rose 2.2 percent to $158.22.

Investors were willing to bet on continued economic growth, and that meant bond prices dropped sharply, sending yields soaring. The yield on the 10-year Treasury note rose to 3.18 percent, its highest since July 2011 and up from 3.05 percent a day earlier.

That helped banks, which are able to charge higher interest rates on long-term loans when bond yields rise. Comerica rose 2.6 percent to $92.09 and Bank of America added 1.4 percent to $30.

High-dividend stocks like utilities and household goods makers took sharp losses. Procter & Gamble fell 1.6 percent to $83.03 and Walmart lost 1.1 percent to $94.07. Investors often treat those stocks as alternatives to bonds, and they tend to fall when bond yields rise.

General Motors rose 2.1 percent to $34 after Honda agreed to invest $2.75 billion in GM's autonomous vehicle business over the next 12 years. Honda lost 3.6 percent to $29.37. Japanese technology firm SoftBank said in May that it would pay $2.25 billion for a 20 percent stake in the GM business, which is called Cruise. It's been trying to catch up to Google's autonomous car division, Waymo.

Century Aluminum tumbled after Norsk Hydro said it is shutting down its Alunorte plant in Brazil. Alunorte is the world's largest alumina refinery, and that could leave Century Aluminum without enough of a critical material used in making aluminum. Century Aluminum fell 11.6 percent to $10.52, and shares of Norsk Hydro lost 11.8 percent in Norway.

Rival aluminum company Alcoa, which produces its own alumina, rose 3.2 percent to $42.89.

Stocks in Europe rose after Italy's economy minister backed down on spending plans that would keep the country's deficit at an elevated level for three years. That relieved investors who were worried about Italy's debts and the possibility of tensions between the country and the European Union.

The FTSE MIB in Italy gained 0.8 percent after dropping 5 percent over the previous five days. Italian government bond prices climbed and the yield on the 10-year bond fell sharply, to 3.30 percent from 3.44 percent. That followed sharp rises in the yield over the past three days.

The CAC 40 in France rose 0.4 percent while the FTSE 100 in Britain rose 0.5 percent. German markets were closed for a holiday.

Benchmark U.S. crude jumped 1.6 percent to settle at $76.41 a barrel in New York. U.S. crude has hit four-year highs this week. Brent crude, used to price international oils, rose 1.8 percent at $86.29 a barrel in London.

Wholesale gasoline edged up 0.5 percent to $2.14 a gallon. Heating oil rose 1.2 percent to $2.44 a gallon. Natural gas climbed 2 percent to $3.23 per 1,000 cubic feet.

Gold fell 0.3 percent to $1,202.90 an ounce. Silver lost 0.2 percent to $14.67 an ounce. Copper rose 1 percent to $2.83 a pound.

The dollar rose to 114.34 yen from 113.69 yen. The euro fell to $1.1517 from $1.1545.

Asian stocks fell as traders worried about by rising oil prices and weak economic data in Japan. Japan's benchmark Nikkei 225 fell 0.7 percent and Hong Kong's Hang Seng dropped 0.1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...erest-rates-send-stocks-skidding-tech-plunges

*Rising interest rates send stocks skidding; tech plunges*
Global stock indexes fall as interest rates rise, and the benchmark 10-year US Treasury note continues to climb after reaching its highest level in seven years.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Global stocks fell Thursday as interest rates in the U.S. continued to rise. Technology and internet companies skidded and the Nasdaq composite took its biggest loss in three months.

Strong reports on job gains and the service industry have sent bond prices tumbling over the last two days as traders bet the U.S. economy will keep growing at about its current clip. Government bonds are stable investments that look most appealing when economic growth is shaky, so investors sold those bonds in the U.S. and Europe.

But the big drop in bond prices is sending interest rates sharply higher, a development that worries investors because it can eventually slow economic growth by making borrowing more expensive for consumers and businesses. It also makes bonds a more intriguing investment compared to stocks.

Sameer Samana, strategist for the Wells Fargo Investment Institute, said that after months of positive economic data, traders in the bond market are selling because they’ve decided yields are too low for them to get a good return on their investments.

“Economic data for months has been strengthening,” he said. “The bond market has completely ignored it until recently.”

The S&P 500 index skidded 23.90 points, or 0.8 percent, to 2,901.61. The Dow Jones Industrial Average lost 200.91 points, or 0.7 percent, to 26,627.48. The Nasdaq composite fell 145.57 points, or 1.8 percent, to 7,879.51. The Russell 2000 index of smaller-company stocks gave up 24.38 points, or 1.5 percent, to 1,646.91.

Bond prices fell again. The yield on the 10-year Treasury note climbed to 3.18 percent from 3.16 percent. Yields began climbing Wednesday following encouraging signs on hiring by private companies and growth for services companies.

That data suggests the economy should keep growing at a solid pace. That translates to bigger profits for U.S. companies and continued increases in interest rates by the Federal Reserve, which raises rates to keep inflation in check. But after an early rally on Wednesday, investors have been considering the negative aspects of that increase in yields.

The health of the economy and the pace of inflation will both be in focus Friday morning after the Labor Department makes its monthly jobs report. That will include hiring by governments and private companies in September and will also include data on wage increases. Stocks plunged in February after the department said wages increased sharply the month before.

Alphabet, Google’s parent company, fell 2.8 percent to $1,177.07. That was its worst loss in five months. Apple slid 1.8 percent to $227.99 and Microsoft lost 2.1 percent to $112.79. Facebook shed 2.2 percent to $158.85 and Amazon declined 2.2 percent to $1,909.42.

Still, Samana said investors aren’t shying away from the stock market because many investors are still buying shares of companies that have been left out of the market’s recent gains. Bank stocks have made tiny gains this year, but they climbed Thursday because higher interest rates mean they make bigger profits on mortgages and other types of loans. Bank of America added 1.2 percent to $30.37 and Wells Fargo rose 1.5 percent to $53.46.

Industrial and energy companies have both lagged the broader S&P 500 in 2018. Those stocks fell Thursday, but they did better than the rest of the market.

The same pattern played out in Europe as stocks and bond prices fell. France’s CAC 40 sank 1.5 percent and Britain’s FTSE 100 tumbled 1.2 percent. The DAX in Germany lost 0.4 percent as trading resumed after a national holiday.

Hong Kong’s Hang Seng index sank 1.7 percent and Japan’s Nikkei 225 index lost 0.6 percent while the Kospi in South Korea sank 1.5 percent.

Shares sank in India as the rupee continued to weaken and investors worried about the country’s trade deficit thanks to surging costs for oil imports. The Sensex index fell 2.2 percent.

Deals hopes also boosted shares of some companies. Barnes & Noble climbed 21.8 percent to $6.65 after the bookseller said it will review offers from potential buyers, including one from founder and chairman Leonard Riggio, the company’s biggest shareholder. Even after Thursday’s gain, Barnes & Noble stock is slightly lower in 2018 and has lost almost two-thirds of its value since July 2015.

Business software companies Hortonworks and Cloudera said they agreed to combine in an all-stock deal. Cloudera shareholders will own most of the new company, which the two sides said will be worth $5.2 billion. Cloudera rose 11.5 percent to $19.05 and Hortonworks added 11.9 percent to $224.48.

Benchmark U.S. crude slid 2.7 percent to $74.33 per barrel in New York. U.S. crude hit four-year highs this week. Brent crude, used to price international oils, lost 2 percent to $84.58 per barrel in London.

Wholesale gasoline lost 1.7 percent to $2.10 a gallon. Heating oil slipped 1.5 percent to $2.40 a gallon. Natural gas fell 2 percent to $3.17 per 1,000 cubic feet.

Gold fell 0.1 percent to $1,201.60 an ounce. Silver lost 0.5 percent to $14.59 an ounce. Copper dropped 2 percent to $2.78 a pound.

The dollar fell to 113.86 yen from 114.34. The euro slipped to $1.1515 from $1.1517.


----------



## bigdog

https://www.usnews.com/news/busines...erest-rates-send-stocks-skidding-tech-plunges

*Stocks Sink Again as Job Gains Send Bond Yields Higher*
US stocks and bonds are falling further as investors expect interest rates to keep rising after the Labor Department said job growth remained solid in recent months.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stock and bond prices fell again Friday after the Labor Department said the economy continues to add jobs at a strong pace, and investors worried about a three-day surge in yields.

The Department of Labor said employers added significantly more jobs in July and August than it previously thought, which made up for a slightly disappointing gain in September. That was another sign economic growth is likely to continue.

While that's usually good news for stocks, the market stumbled this week as investors sold government bonds at a rapid pace. That pushed yields to their highest levels in more than seven years, a sign that investors are unsure how high and fast interest rates will rise.

Kate Nixon, the chief investment strategist for Northern Trust Wealth Management, said the decline in stock and bond prices started with comments by Federal Reserve Chairman Jerome Powell on Wednesday.

In a moderated discussion, Powell expressed confidence in the economy and said rising interest rates are a "long way" from holding back growth. Nixon said that means the Fed is intent on raising rates further, and investors aren't sure when it intends to stop.

"The Fed is clearly no longer in the business of being accommodative and now the burden of proof is on the data to prove them wrong," she said. Until last month, the Fed had described its policies as "accommodative," or encouraging faster growth, since the Great Recession.

The S&P 500 index lost 16.04 points, or 0.6 percent, to 2,885.57. The Dow Jones Industrial Average dipped 180.43 points, or 0.7 percent, to 26,447.05.

Technology and internet companies and smaller, more U.S.-focused companies continued to suffer steep losses. The Nasdaq composite skidded 91.06 points, or 1.2 percent, to 7,788.45. The Russell 2000 index lost 14.80 points, or 0.9 percent, to 1,632.11.

The Nasdaq dropped 3.2 percent this week and the Russell tumbled 3.8 percent. That was both indexes worst weekly loss in more than six months. The Russell index finished at its lowest level since late May.

The yield on the 10-year Treasury note jumped to 3.23 percent, its highest since May 2011, from 3.19 percent.

"It's so unusual to see these kinds of dramatic moves in the U.S. Treasury market without there being some kind of Big Bang event," said Nixon, of Northern Trust. "We haven't seen anything like it since the (2016 presidential) election."

While technology companies and retailers have been the biggest gainers on the S&P this year, they took steep losses this week. Banks and industrial and energy companies, which have struggled for most of 2018, changed place and finished with strong gains.

Among technology companies, chipmaker Nvidia lost 3.4 percent to $269.86 and Apple slipped 1.6 percent to $224.29. Among internet and communications companies, Netflix slumped 3.4 percent to $351.35. Retailers also declined and Amazon gave up 1 percent to $1,889.65.

Several major banks will report their third-quarter results late next week as the next round of company earnings begins.

Tesla stock fell 7.1 percent to $261.95 to end a particularly wild week for the electric car maker. Thursday evening, CEO Elon Musk taunted the Securities and Exchange Commission on Twitter just days after he agreed to settle an SEC lawsuit triggered by a tweet he sent in August.

As part of that settlement, Musk agreed to step down as chairman and submit to oversight when he's communicating company news. His criticisms of the SEC don't appear to be company news, but they may have worried investors who hoped his feed would be a little more boring from now on.

According to media reports, financier David Einhorn also criticized Tesla, comparing it to Lehman Brothers, which went bankrupt during the financial crisis. Tesla did not immediately respond to a request for comment.

Musk and Tesla are also paying $20 million each to end the lawsuit over his false tweet that he had secured funding to take Tesla private.

Wholesale club operator Costco gave up 5.6 percent to $218.82 after it said it discovered technology problems related to its financial reporting processes. Costco said it hasn't found any mistakes in its earnings reports so far.

European stocks fell for the second day in a row. Germany's DAX lost 1.1 percent and the CAC 40 in France dropped 1 percent. Britain's FTSE 100 fell 1.3 percent. Bond prices in all three countries fell again sending yields higher.

Japan's benchmark Nikkei 225 fell 0.8 percent and the Kospi in South Korea dropped 0.3 percent. Hong Kong's Hang Seng fell 0.2 percent.

Benchmark U.S. crude was little changed at $74.34 a barrel in New York and Brent crude, the standard for international oil futures, fell 0.5 percent to $84.16 a barrel in London.

Wholesale gasoline slipped 0.7 percent to $2.09 a gallon. Heating oil dipped 0.3 percent to $2.39 a gallon. Natural gas fell 0.7 percent to $3.14 per 1,000 cubic feet.

Gold rose 0.3 percent to $1,205.60 an ounce. Silver added 0.4 percent to $14.65 an ounce. Copper fell 0.5 percent to $2.76 a pound.

The dollar slipped to 113.73 yen from 113.86 yen. The euro rose to $1.1525 from $1.1515.

3323


----------



## bigdog

*Almost sea of red*







https://www.usnews.com/news/busines...decline-after-china-injects-cash-into-economy

*Stock Indexes End Mixed, but Tech Companies Slide Further*
U.S. stocks finish mixed following sharp losses early in the day, but technology companies continue to fall.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stock indexes found their footing after a sharp early loss Monday and finished mixed. Technology companies sank for the third day in a row.

Stocks slumped in morning trading following big declines late last week. Some of the largest losses went to technology companies, including payment and credit card companies. Indexes in Europe also dropped as Italy vowed to ramp up spending that will increase its deficit.

A sharp increase in bond yields last week had startled investors and prompted them to shift money out of stocks. Bond markets in the U.S. were closed for the Columbus Day holiday and stock trading was relatively light.

Banks, which often rise along with interest rates, continued their advance. High-dividend companies, which tend to fall when yields go up, recovered some of their losses from last week.

Kristina Hooper, chief global market strategist for Invesco, said technology companies have dropped because investors are concerned that they are vulnerable as the Trump administration wraps up trade negotiations with Mexico, Canada and Korea and zeroes in on China.

"The U.S. has made very significant concessions (to those countries), and I expect them to do that with Japan as well," she said. "The ultimate goal is to bring China to its knees."

The S&P 500 index dipped 1.14 points to 2,884.43. The Dow Jones Industrial Average reversed an early loss of 223 points and rose 39.73 points, or 0.2 percent, to 26,486.78.

The Nasdaq composite sank 52.50 points, or 0.7 percent, to 7,735.95. The Russell 2000 index of smaller-company stocks slipped 2.60 points, or 0.2 percent, to 1,629.51. The Nasdaq and Russell are each coming off their worst week since late March.

Among payment technology companies, PayPal slid 3.2 percent to $80.55 and Mastercard fell 2.3 percent to $208.26. Other tech companies also struggled, as Microsoft lost 1.1 percent to $110.85.

Alphabet, Google's parent company, fell 1 percent to $1,155.92 after it said the profiles of as many as 500,000 Google Plus accounts were exposed by a bug. The company said it will end Google Plus for consumers next year.

Hooper, of Invesco, said technology companies have been returning big profits this year, so investors have been slow to recognize the harm that could come from the trade spat.

"There's the potential for China to place an embargo on rare earth metals, which would be very disruptive to some parts of the tech industry," she said. "Tech is not going to be unscathed in a trade war."

Overseas, Italy's deputy premier vowed to press ahead with a plan to increase spending and the country's deficit even after the European Commission expressed "serious concern" about the notion.

Italy's FTSE MIB dropped 2.4 percent and Italian bond prices dropped, sending yields higher. Germany's DAX fell 1.4 percent and the CAC 40 in France sank 1.1 percent. In Britain, the FTSE 100 fell 1.2 percent.

The euro sank to $1.1488 from $1.1525.

China's government injected money into its cooling economy by reducing the level of reserves banks are required to hold, and its central bank told Chinese banks to lend more to entrepreneurs. Chinese leaders are trying to shore up economic growth that began to cool after Beijing tightened lending controls last year to rein in a debt boom.

Hong Kong's Hang Seng retreated 1.4 percent and the Kospi in South Korea fell 0.6 percent. Japanese markets were closed for a holiday.

Brazil's main stock index staged its biggest rally in two and a half years, jumping 4.6 percent for its highest close since May after far-right candidate Jair Bolsonaro led the first round of presidential voting by an unexpectedly wide margin. He's now the favorite in the final election later this month.

Bolsonaro has repeatedly said he doesn't understand the economy and has also spoken approvingly of Brazil's 1964-1985 dictatorship. But business leaders and financial markets approved of his choice of an esteemed banker as head of his economic team, and they are opposed to the left-leaning policies of the Workers' Party.

With bond markets in the U.S. closed, the yield on the 10-year Treasury note, an important benchmark for mortgages and other types of long-term loans, stayed at 3.22 percent. That's its highest in more than seven years and it's aided bank stocks.

That continued Monday as BB&T gained 1.5 percent to $9.74 and M&T Banks rose 1.1 percent to $170.09.

High-dividend stocks rose Monday. Those stocks are often treated as an alternative to bonds because of their large payments to shareholders, which are similar to the yields from bonds.

Real estate investment trust Crown Castle International gained 1.4 percent to $110.27 and Coca-Cola climbed 1.3 percent to $46.48.

Benchmark U.S. crude slid 0.1 percent to $74.29 a barrel in New York and Brent crude, used to price international oils, dropped 0.3 percent to $83.91 a barrel in London.

Wholesale gasoline rose 0.4 percent to $2.09 a gallon. Heating oil inched up 0.1 percent to $2.39 a gallon. Natural gas jumped 3.9 percent to $3.27 per 1,000 cubic feet.

Gold lost 1.4 percent to $1,188.60 an ounce and silver slipped 2.2 percent to $14.33 an ounce. Copper rose 0.1 percent to $2.77 a pound.

The dollar fell to 112.98 yen from 113.73 yen late Friday.


----------



## bigdog

https://www.usnews.com/news/busines...ks-fall-after-imf-downgrades-economic-outlook

*US Stock Indexes Mixed as Interest Rates Take a Pause*
U.S. stock indexes ended Tuesday nearly where they began, as interest rates let off the accelerator following their sharp rise last week.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stock indexes ended Tuesday nearly where they began, as interest rates let off the accelerator following their sharp rise last week. But the modest moves for indexes masked some roiling underneath.

Raw-material producers plunged on worries that inflation and weaker demand are eating into their profits. On the opposite end were technology stocks and other sectors, which recovered some of the sharp losses caused by last week's rapid rise in interest rates.

Altogether, the crosscurrents left the S&P 500 down 4.09 points, or 0.1 percent, at 2,880.34. It had waffled between small gains and losses for most of the day, and roughly three stocks rose in the index for every two that fell.

The Dow Jones industrial average fell 56.21, or 0.2 percent, to 26,430.57, and the Nasdaq composite added 2.07, or less than 0.1 percent, to 7,738.02.

At the center of the movements were interest rates, which sway how quickly the economy grows, how expensive it is for companies and households to borrow and how high a price investors are willing to pay for stocks. The yield on the 10-year Treasury dipped to 3.20 percent from 3.22 late Friday in the first of trading after bond markets were closed for a holiday on Monday.

The pause came after bond yields surged last week following several encouraging reports on the economy. The 10-year Treasury yield was just 3.05 percent last Tuesday, and the speed of the recent rise has been more concerning to investors than the level. If rates go high enough, they can hurt profits for companies and drive investors away from stocks and into bonds.

Tuesday's ease in rates helped technology stocks, which have been leading the market, both on the way up for most of the past year and on the way down over the last week. Technology companies are producing some of the biggest profit growth in the market, but their stocks are also trading at relatively high prices relative to those earnings.

Tech stocks in the S&P 500 are down 3 percent so far this month, versus a 1.2 percent loss for the overall index. But the group rose 0.4 percent Tuesday as interest rates dropped.

Energy stocks did even better, benefiting from another rise in the price of oil. Energy stocks in the S&P 500 climbed 1 percent, led by a 3.3 percent rise for Pioneer Natural Resources and a 2.7 percent climb for Apache.

"We like energy right now, and we think prices aren't likely to come down anytime soon," said Barry James, president and portfolio manager of James Advantage Funds. "The explorers have been left behind a little bit by the refiners, and now's their time to catch up."

On the losing end were raw-material producers, which tumbled 3.4 percent for the sharpest loss among the 11 sectors that make up the S&P 500.

PPG, which sells paints and coatings, sank 10.1 percent to $98.56 for the biggest loss in the S&P 500 after it warned that higher costs for oil and other materials will weigh on its third-quarter results. It also said that demand is weakening in China, as well as in the United States and Europe for automotive refinish products.

Companies across the economy are scheduled to report their earnings results for the summer in the coming weeks, and expectations along Wall Street are for another strong quarter of growth. Low taxes and a strong U.S. economy are helping profits, but investors also want to hear what companies say about their costs and how the global trade war is affecting their business.

The International Monetary Fund downgraded its forecast for global economic growth late Monday, citing higher interest rates and ongoing trade battles. The IMF said the global economy will grow 3.7 percent this year, the same as in 2017, but down from its earlier forecast of 3.9 percent. The IMF also cut its forecast for Chinese economic growth in 2019 to 6.2 percent, which would be its slowest since 1990.

In markets abroad, Japan's Nikkei 225 fell 1.3 percent, Hong Kong's Hang Seng fell 0.1 percent and the Shanghai Composite index rose 0.2 percent. In Europe, the CAC 40 in France rose 0.3 percent, and the German DAX gained 0.3 percent. The FTSE 100 in London edged up 0.1 percent.

In the commodities markets, benchmark U.S. crude rose 0.9 percent to $74.94 a barrel. Brent crude, the international standard, rose 1.3 percent to $85 a barrel.

Gold rose 0.2 percent to settle at $1,191.50 per ounce, silver gained 0.5 percent to $14.40 per ounce and copper rose 1.4 percent to $2.81 per pound.

The dollar rose to 113.05 Japanese yen from 112.98 yen late Monday. The euro rose to $1.1496 from $1.1488, and the British pound rose to $1.3146 from $1.3090.


----------



## bigdog

*Dow Industrials Sink 831 Points as Tech Companies Plunge*






*Dow Industrials Sink 831 Points as Tech Companies Plunge*
Stocks take their worst loss in eight months as US indexes slide for the fifth day in a row, led by drops in big technology companies.

BY MARLEY JAY AND STAN CHOE, AP Business Writers

NEW YORK (AP) — U.S. stocks plunged to their worst loss in eight months on Wednesday as technology companies continued to drop. The Dow Jones Industrial Average fell 831 points.

The losses were widespread, and stocks that have been the biggest winners on the market the last few years, including technology companies and retailers, suffered steep declines. Apple and Amazon both had their worst day in two and a half years.

The Nasdaq composite, which has a high concentration of technology companies, had its biggest loss in more than two years.

Alec Young, managing director of global markets research at FTSE Russell, said investors fear that rising interest rates and growing expenses are going to erode company profits next year.

"The tax cuts juiced earnings this year and that's not sustainable," he said. "The market's starting to say that the glass may be half empty."

The S&P 500 index sank 94.66 points, or 3.3 percent, to 2,785.68. The benchmark index fell for the fifth straight day, which hadn't happened since just before the 2016 presidential election.

The Nasdaq composite tumbled 315.97 points, or 4.1 percent, to 7,422.05. It's fallen 7.5 percent in just five days.

The Dow Jones Industrial Average gave up 831.83 points, or 3.1 percent, to 25,598.74. The Russell 2000 index of smaller-company stocks shed 46.45 points, or 2.9 percent, to 1,575.41.

After a long stretch of relative calm, the stock market has suffered sharp losses over the last week as bond yields surged. Stocks had come close to big drops in the last few days, but each time they recovered some of their losses. That didn't happen Wednesday as stocks fell further late in the day.

Apple gave up 4.6 percent to $216.36 and Microsoft dropped 5.4 percent to $106.16. Amazon skidded 6.2 percent to $1,755.25. Industrial and internet companies also fell hard. Boeing lost 4.7 percent to $367.57 and Alphabet, Google's parent company, gave up 4.6 percent to $1,092.16.



Insurance companies dropped as Hurricane Michael continued to gather strength and came ashore in Florida bringing winds of up to 155 miles an hour. Berkshire Hathaway dipped 4.7 percent to $213.10 and reinsurer Everest Re slid 5.1 percent to $217.73.

Luxury retailers tumbled after LVMH, the parent of Louis Vuitton, said its sales growth in China slowed. Tiffany plunged 10.2 percent to $110.38 and Ralph Lauren fell 8.4 percent to $116.96.

The biggest driver for the market over the last week has been interest rates, which began spurting higher following several encouraging reports on the economy. Higher rates can slow economic growth, erode corporate profits and make investors less willing to pay high prices for stocks.

The 10-year Treasury yield remained at 3.20 percent, about where it was late Tuesday, after earlier touching 3.24 percent. It was at just 3.05 percent early last week and 2.82 percent in late August.

Technology and internet-based companies are known for their high profit margins, and many have reported explosive growth in recent years, with corresponding gains in their stock prices.

Gina Martin Adams, chief equity strategist for Bloomberg Intelligence, said the stocks have become more volatile in the last few months because investors have concerns about their future profitability.

"Amazon recently announced they were increasing wages, Facebook is spending a ton on security," she said. "Semiconductors have the most exposure to China out of segments in the S&P 500."

Sears Holdings nosedived after the Wall Street Journal reported that the struggling retailer hired an advisory firm to prepare a bankruptcy filing that could come within days. The stock fell 16.8 percent to 49 cents. It was more than $40 five years ago.

Sears has closed hundreds of stores and sold several famous brands or put them on the block as it sees more customers abandon its stores.

Benchmark U.S. crude oil fell 2.4 percent to $73.17 a barrel in New York. Brent crude, the international standard, lost 2.2 percent to $83.09 a barrel in London.

Wholesale gasoline shed 2.7 percent to $2.02 a gallon. Heating oil fell 1.2 percent to $2.39 a gallon. Natural gas rose 0.6 percent to $3.28 per 1,000 cubic feet.


Gold rose 0.2 percent to $1,193.40 an ounce. Silver dipped 0.5 percent to $14.33 an ounce. Copper fell 0.9 percent to $2.78 a pound.

Japan's Nikkei 225 added 0.2 percent, South Korea's Kospi dropped 1.1 percent and the Hang Seng in Hong Kong gained 0.1 percent.

The CAC 40 in France dropped 2.1 percent, Germany's DAX lost 2.2 percent and the FTSE 100 in London fell 1.3 percent.

Stocks from emerging markets were also hard hit. Investors see many of these countries as being vulnerable to higher U.S. interest rates, which can pull away investment dollars. Brazil's Bovespa lost 2.5 percent and the Merval in Argentina sank 2.2 percent.

The dollar fell to 112.59 Japanese yen from 113.05 yen late Tuesday. The euro rose to $1.1525 from $1.1496. The British pound rose to $1.3197 from $1.3146


----------



## bigdog

*Stocks Plunge Again; Dow's Two-Day Loss Reaches 1,300 Points*
U.S. stocks tumble for the second consecutive day as the market's recent downturn gets worse.

BY MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks sank more than 2 percent Thursday, the second day of steep declines around the globe driven by concerns about rising interest rates and trade tensions that could slow economic growth.

The Dow Jones Industrial Average fell 545 points after dropping 831 points Wednesday. The two-day loss of 5.3 percent is the biggest for Dow since February. The S&P 500 is also down more than 5 percent over the two days and after falling for the past six trading days is almost 7 percent below its Sept. 20 high.

The recent turbulence in financial markets is a contrast to what investors have grown accustomed to in a bull market that has lasted more than 10 years, the longest in history. A hallmark of the past decade has been ultra-low interest rates, which the Federal Reserve used to promote growth in the aftermath of the 2008 financial crisis.

The Fed has been gradually raising interest rates over the past two years, after not having increased them since the recession. Those higher rates have been the catalyst for recent selling, stoking concerns that slower growth would impinge on corporate profits.

The selling Thursday was widespread. Energy companies sank along with oil prices and CVS lead a rout in health care stocks. Technology companies and retailers, including longtime market favorites Apple, Alphabet and Amazon, extended their recent slide.

"There isn't much of a place to hide right now in the equity market," said Willie Delwiche, an investment strategist at Baird.

Seeking safety, investors bought gold and government bonds. That pushed bond prices up and their yields down, ending a surge in yields that had touched off the market's current decline. But investors found more things to worry about.

There are ongoing concerns about the unresolved trade dispute between the U.S. and China. Strong earnings reports in the coming weeks could soothe investor nerves, but negative comments from company executives about future profits could have the opposite effect. Recently a larger-than-normal number of companies have warned that their third-quarter results could be weaker than analysts expected.

The benchmark S&P 500 index rose in morning trading, but ultimately gave up 57.31 points, or 2.1 percent, to 2,728.37, its lowest close in three months. The index has declined 6.7 percent during its current losing streak. That's its steepest downturn since a 10-percent drop in early February.

The Dow Jones Industrial Average lost 545.91 points, or 2.1 percent, to 25,052.83 after falling as much as 698. The Nasdaq composite skidded 92.99 points, or 1.3 percent, to 7,329.06. The Russell 2000 index of smaller-company stocks fell 30.03 points, or 1.9 percent, to 1,545.38.

Thursday's losses in the U.S. followed steep declines overseas. Markets in France, Britain and Germany fell after stocks declined sharply in Hong Kong and Japan.

"People are trying to get a sense of 'where should my money actually be right now?'" said JJ Kinahan, chief market strategist for TD Ameritrade.

The S&P 500's current decline is the longest since a nine-day skid shortly before the 2016 presidential election. It has climbed 27.5 percent since Donald Trump was elected, and is still up 2.1 percent in 2018.

The market had been calm from late June through September as investors were satisfied with continued economic growth, strong company profits, and signs of progress in trade talks between the U.S. and several partners, although the U.S. remained at odds with China.

Delwiche, the Baird strategist, thinks the current slump isn't over yet.

"I don't see evidence right now that this is a one-off event," he said.

On Thursday, President Trump renewed his criticism of the Federal Reserve, blaming the recent downturn in the stock market on the Fed's rate policy.

"We have interest rates going up at a clip that's much faster than certainly a lot of people, including myself, would have anticipated. I think the Fed is out of control," the president said to reporters in the Oval Office.

Trump said he had no intention of firing Jerome Powell, who he appointed as Fed chairman in February.

Bond prices rose as the recent surge in yields attracted the attention of some investors. The yield on the 10-year Treasury note fell to 3.15 percent from 3.22 percent late Wednesday. That's still sharply higher than it was about a week ago, and earlier this week the yield on the 10-year note reached its highest level since mid-2011.

The drop in yields hurt banks, and JPMorgan Chase fell 3 percent to $1078.13 while Bank of America sank 3 percent to $28.36. JPMorgan Chase and several other banks will report their third-quarter results Friday morning

Technology and retail companies continued to stumble. Amazon dropped another 2 percent to $1,719.36 and Apple fell 0.9 percent to $214.45. Microsoft and Alphabet, Google's parent company, were little changed. Those stocks have made huge gains for years, but they're currently out of favor. Amazon and Alphabet, respectively the second- and fourth-most valuable U.S. companies, are in what's known as a "correction," a drop of more than 10 percent from a recent peak. Facebook, the sixth-largest company, has tumbled 29 percent since late July, surpassing the 20-percent threshold for a "bear market."

The Nasdaq composite has fallen 9.6 percent since it set a record high in late August and the Russell 2000 has fallen 11 percent.

U.S. crude dropped 3 percent while Brent crude, the international standard, dropped 3.4 percent. Wholesale gasoline, heating oil and natural gas also declined.

After months of declines, the price of gold jumped by the most in two years, rising 2.9 percent to $1,227.60 an ounce.

In other metals trading, silver rose 2 percent and copper added 0.8 percent.

The dollar fell to 111.94 yen from 112.59 yen, and the euro rose to $1.1594 from $1.1525.


----------



## Skate

bigdog said:


> View attachment 89704
> 
> 
> *Stocks Plunge Again; Dow's Two-Day Loss Reaches 1,300 Points*
> U.S. stocks tumble for the second consecutive day as the market's recent downturn gets worse.
> 
> BY MARLEY JAY, AP Markets Writer
> 
> NEW YORK (AP) — U.S. stocks sank more than 2 percent Thursday, the second day of steep declines around the globe driven by concerns about rising interest rates and trade tensions that could slow economic growth.
> 
> The Dow Jones Industrial Average fell 545 points after dropping 831 points Wednesday. The two-day loss of 5.3 percent is the biggest for Dow since February. The S&P 500 is also down more than 5 percent over the two days and after falling for the past six trading days is almost 7 percent below its Sept. 20 high.
> 
> The recent turbulence in financial markets is a contrast to what investors have grown accustomed to in a bull market that has lasted more than 10 years, the longest in history. A hallmark of the past decade has been ultra-low interest rates, which the Federal Reserve used to promote growth in the aftermath of the 2008 financial crisis.
> 
> The Fed has been gradually raising interest rates over the past two years, after not having increased them since the recession. Those higher rates have been the catalyst for recent selling, stoking concerns that slower growth would impinge on corporate profits.
> 
> The selling Thursday was widespread. Energy companies sank along with oil prices and CVS lead a rout in health care stocks. Technology companies and retailers, including longtime market favorites Apple, Alphabet and Amazon, extended their recent slide.
> 
> "There isn't much of a place to hide right now in the equity market," said Willie Delwiche, an investment strategist at Baird.
> 
> Seeking safety, investors bought gold and government bonds. That pushed bond prices up and their yields down, ending a surge in yields that had touched off the market's current decline. But investors found more things to worry about.
> 
> There are ongoing concerns about the unresolved trade dispute between the U.S. and China. Strong earnings reports in the coming weeks could soothe investor nerves, but negative comments from company executives about future profits could have the opposite effect. Recently a larger-than-normal number of companies have warned that their third-quarter results could be weaker than analysts expected.
> 
> The benchmark S&P 500 index rose in morning trading, but ultimately gave up 57.31 points, or 2.1 percent, to 2,728.37, its lowest close in three months. The index has declined 6.7 percent during its current losing streak. That's its steepest downturn since a 10-percent drop in early February.
> 
> The Dow Jones Industrial Average lost 545.91 points, or 2.1 percent, to 25,052.83 after falling as much as 698. The Nasdaq composite skidded 92.99 points, or 1.3 percent, to 7,329.06. The Russell 2000 index of smaller-company stocks fell 30.03 points, or 1.9 percent, to 1,545.38.
> 
> Thursday's losses in the U.S. followed steep declines overseas. Markets in France, Britain and Germany fell after stocks declined sharply in Hong Kong and Japan.
> 
> "People are trying to get a sense of 'where should my money actually be right now?'" said JJ Kinahan, chief market strategist for TD Ameritrade.
> 
> The S&P 500's current decline is the longest since a nine-day skid shortly before the 2016 presidential election. It has climbed 27.5 percent since Donald Trump was elected, and is still up 2.1 percent in 2018.
> 
> The market had been calm from late June through September as investors were satisfied with continued economic growth, strong company profits, and signs of progress in trade talks between the U.S. and several partners, although the U.S. remained at odds with China.
> 
> Delwiche, the Baird strategist, thinks the current slump isn't over yet.
> 
> "I don't see evidence right now that this is a one-off event," he said.
> 
> On Thursday, President Trump renewed his criticism of the Federal Reserve, blaming the recent downturn in the stock market on the Fed's rate policy.
> 
> "We have interest rates going up at a clip that's much faster than certainly a lot of people, including myself, would have anticipated. I think the Fed is out of control," the president said to reporters in the Oval Office.
> 
> Trump said he had no intention of firing Jerome Powell, who he appointed as Fed chairman in February.
> 
> Bond prices rose as the recent surge in yields attracted the attention of some investors. The yield on the 10-year Treasury note fell to 3.15 percent from 3.22 percent late Wednesday. That's still sharply higher than it was about a week ago, and earlier this week the yield on the 10-year note reached its highest level since mid-2011.
> 
> The drop in yields hurt banks, and JPMorgan Chase fell 3 percent to $1078.13 while Bank of America sank 3 percent to $28.36. JPMorgan Chase and several other banks will report their third-quarter results Friday morning
> 
> Technology and retail companies continued to stumble. Amazon dropped another 2 percent to $1,719.36 and Apple fell 0.9 percent to $214.45. Microsoft and Alphabet, Google's parent company, were little changed. Those stocks have made huge gains for years, but they're currently out of favor. Amazon and Alphabet, respectively the second- and fourth-most valuable U.S. companies, are in what's known as a "correction," a drop of more than 10 percent from a recent peak. Facebook, the sixth-largest company, has tumbled 29 percent since late July, surpassing the 20-percent threshold for a "bear market."
> 
> The Nasdaq composite has fallen 9.6 percent since it set a record high in late August and the Russell 2000 has fallen 11 percent.
> 
> U.S. crude dropped 3 percent while Brent crude, the international standard, dropped 3.4 percent. Wholesale gasoline, heating oil and natural gas also declined.
> 
> After months of declines, the price of gold jumped by the most in two years, rising 2.9 percent to $1,227.60 an ounce.
> 
> In other metals trading, silver rose 2 percent and copper added 0.8 percent.
> 
> The dollar fell to 111.94 yen from 112.59 yen, and the euro rose to $1.1594 from $1.1525.




Some days you feel like shooting the messenger....

Just joking John - I shouldn't think out loud..

Skate.


----------



## bigdog

https://www.usnews.com/news/busines...ounce-back-on-report-trump-xi-to-meet-at-g-20

*Tech Stock Rally Helps Snap Losing Streak as Rough Week Ends*
U.S. stocks rebound and finish with solid gains after big losses the past few days, but the S&P 500 still finishes with its worst week in six months.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks rebounded Friday, clawing back some of the week's steep losses, but the turbulent trading of the last few days left no doubt that the relative calm the markets enjoyed all summer had been shattered.

Major U.S. indexes ended the week down about 4 percent, their worst weekly loss in six months. An index measuring the performance of small-company stocks had its worst week since early 2016.

Big technology and consumer-focused companies led the recovery Friday. Longtime favorites of many investors, they had plunged in the last few days.

A major factor cited by market watchers for the pullback was a sharp increase in interest rates, which can slow the economy and make bonds more attractive to investors relative to stocks.

Apple climbed 3.6 percent to $222.11 and Microsoft gained 3.5 percent to $109.57. Amazon jumped 4 percent to $1,788.41. Those are the three most valuable companies in the U.S., and they suffered startling declines the last few days: on Wednesday each took its biggest loss in more than two years. That made for a dramatic end to three months of calm on the U.S. market.

The S&P 500 index rose 38.76 points, or 1.4 percent, to 2,767.13 to end a six-day losing streak. The benchmark index tumbled 4.1 percent this week, and it's down 5.6 percent since from its latest record high, set Sept. 20. Thanks in part to the big gain for technology companies, the Nasdaq composite jumped 167.83 points, or 2.3 percent, to 7,496.89.

The Dow Jones Industrial Average rose as much as 414 points early on, then gave it all up and turned slightly lower. It rebounded and finished with a gain of 287.16 points, or 1.1 percent, at 25,339.99.

The market's recent skid started last week, when strong economic data and positive comments from Federal Reserve Chair Jerome Powell helped set off a wave of selling in the bond market as investors they bet that the U.S. economy would keep growing at a healthy pace. That pushed bond prices lower and sent yields up to seven-year highs.

That drove interest rates sharply higher, which worried stock investors who felt that a big increase could stifle economic growth. The big swings in the market Friday suggest those fears haven't gone away. The VIX, a measurement of how much volatility investors expect, hasn't been this high in six months.

"What seems to have driven this is a fear interest rates were going to rise more quickly because the Fed was being too aggressive or the economy was going to overheat," said David Kelly, chief global strategist for JPMorgan Funds. Kelly said he doesn't think either of those fears is justified, as the Fed isn't raising interest rates that rapidly and economic growth hasn't sped up recently.

Small companies didn't fare as well. The Russell 2000 index rose just 1.30 points, or 0.1 percent, to 1,546.68 to wrap up its largest loss in one week since January 2016. High-dividend stocks like utilities and real estate investment trusts also rose less than the rest of the market. They held up relatively well over the past few days. Investors view them as relatively safe, steady assets that look better when growth is uncertain and the rest of the market is in turmoil.

U.S. automakers Ford and General Motors continued to slump. GM shed 1.6 percent to $31.79, its lowest in almost two years. Ford, trading at its lowest in almost nine years, dipped 1.9 percent to $8.64. Both have plunged this year as they deal with slowing sales and the Trump administration's tariffs on steel and aluminum, which are sending their manufacturing costs higher.

The stocks have fallen further in recent days following reports Ford might cut jobs. In late September, Ford CEO Jim Hackett said the steel and aluminum duties would cost the company $1 billion through 2019.

Investors are also growing more concerned that U.S.-China trade tensions are impairing global economic growth. The International Monetary Fund cut its forecast for global economic growth this week because of trade tensions and increased interest rates.

Sam Stovall, chief investment strategist for CFRA, said he thought stocks fell too far, but there could be more turmoil ahead for the markets. While stocks had done well in spite of the rising trade tensions between China and the U.S., investors seem more worried now.

"Everybody has been pretty much dismissing the effect of the trade war on U.S. equities, and now they're beginning to think 'wait a minute, maybe there could be a problem,'" he said. "I don't think the reasons for the decline have been resolved."

Bond prices edged lower. The yield on the 10-year Treasury note rose to 3.15 percent 3.13 percent. At the beginning of the year it stood at 2.46 percent.

U.S. crude oil added 0.5 percent to $71.34 a barrel in in New York. Brent crude, the international standard, picked up 0.2 percent to $80.43 a barrel in London.

Wholesale gasoline rose 0.5 percent to $1.94 a gallon. Heating oil fell 0.5 percent to $2.32 a gallon. Natural gas lost 1.9 percent to $3.16 per 1,000 cubic feet.

Asian stocks also rebounded. Japan's Nikkei 225 index gained 0.5 percent after sinking early in the day and following a nearly 4 percent loss on Thursday. Hong Kong's Hang Seng surged 2.1 percent and the Kospi in South Korea rose 1.5 percent.

European stocks finished mostly lower. The French CAC 40 dipped 0.2 percent and so did the FTSE 100 in Britain. The DAX in Germany slipped 0.1 percent.

After a big jump Thursday, gold lost 0.5 percent to $1,222 an ounce. Silver rose 0.2 percent to $14.64 an ounce. Copper slipped 0.1 percent to $2.80 a pound.

The dollar slipped to 112.01 yen from 111.94 yen. The euro fell to $1.1563 from $1.1594.

3828


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## SirRumpole

The "bondcano" killing the stock market.

http://www.abc.net.au/news/2018-10-...ar-as-the-bondcano-rumbles-ominously/10366678


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## Skate

SirRumpole said:


> The "bondcano" killing the stock market.
> 
> http://www.abc.net.au/news/2018-10-...ar-as-the-bondcano-rumbles-ominously/10366678




Thanks SirRumpole for the hyperlink - it's appreciated..

The article somewhat helps explains the current situation.

Skate


----------



## Triple B

Can someone give me an idea why volatility is less after this sell off compared to the last one??
More confidence this time perhaps?


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## bigdog

https://www.usnews.com/news/busines...tocks-slip-on-continuing-global-trade-worries

*Stocks Fade and Finish Lower as Tech Companies Fall Again*
US stocks end a wobbly day of trading with more losses as technology companies fall again, canceling out gains for smaller companies, industrials and high-dividend stocks.

Oct. 15, 2018, at 4:45 p.m.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — After a wobbly day of trading, U.S. stocks fell for the seventh time in eight days Monday as technology companies continued to slide. Industrial and high-dividend companies rose, and the market's losses were limited relative to the steep losses it suffered last week.

Stocks opened lower and repeatedly switched between small gains and losses before falling in the last hour of trading. Along with technology companies, health care and energy stocks and retailers also fell as the companies that have led the U.S. market higher this year continued to struggle.

Defense contractors L3 and Harris made the biggest gains on the S&P 500 after announcing a deal to combine. Smaller companies fared better than the rest of the market and finished broadly higher.

Jason Pride, chief investment officer for private clients at Glenmede, said that investors expect many years of powerful profit growth from technology-oriented companies like Apple, Amazon and Netflix. Over the last two weeks, Wall Street has started considering the possibility that interest rates will rise more quickly, taking a bigger chunk out of those critical future profits.

"The more the company's valuation is dependent on some profit way ahead in time as opposed to the profits coming today, the more rate hikes should impact the valuation of that company," he said. Pride said the recent downturn is a healthy development for stocks.

"A five to 10 percent pullback of that magnitude is very normal and very reasonable for this market to go through," he said.

The S&P 500 index lost 16.34 points, or 0.6 percent, to 2,750.79. The Dow Jones Industrial Average retreated 89.44 points, or 0.4 percent, to 25,250.55. The Nasdaq composite skidded 66.15 points, or 0.9 percent, to 7,430.74. The Russell 2000 index of smaller-company stocks added 6.42 points, or 0.4 percent, to 1,553.09.

The S&P 500 lost 4.1 percent last week, its third weekly loss in a row and its biggest since late March, as investors worried about rising interest rates and trade tensions between the U.S. and China.

The technology companies that have led the market higher in recent years, including some of the world's most valuable companies, continued to decline. Apple gave up 2.1 percent to $217.36 and chipmaker Nvidia slipped 3.4 percent to $235.38.

Netflix, which is scheduled to report its third-quarter results late Tuesday, fell 1.9 percent to $333.13. It's fallen 20.5 percent since disclosing weak user growth three months ago.

Harris and L3 are combining to form L3 Harris Technologies, which will have annual sales of about $16 billion. That would make it the sixth-largest U.S. defense contractor and one of the top 10 globally. L3 gained 12.8 percent to $220.91 and Harris rose 11.9 percent to $173.25.

Bank of America's third-quarter profit and revenue were better than analysts expected, but Wall Street was disappointed with the company's loan growth. The company has emphasized responsible growth recently, and like other banks, it's benefiting from last year's corporate tax cut and rising interest rates. Its stock slipped 1.9 percent to $27.92.

Bond prices edged lower. The yield on the 10-year Treasury note rose to 3.16 percent from 3.14 percent late Friday.

Rising bond yields often lead to losses for high-dividend companies because many investors think of them as alternatives to bonds. That pattern hasn't held up in the last few days as investors have been looking for relatively safe picks on the stock market.

Germany's DAX jumped 0.8 percent and the FTSE 100 in Britain rose 0.5 percent. France's CAC 40 fell less than 0.1 percent.

Japan's benchmark Nikkei 225 dipped 1.9 percent and the South Korean Kospi edged down 0.8 percent. Hong Kong's Hang Seng fell 1.5 percent.

Global stock indexes have been struggling this year as investors move money to the U.S. and out of Europe and Asia in response to faster economic growth in the U.S. and rising trade tensions. The losses the last few weeks for global markets have made it even worse.

The Hang Seng index in Hong Kong has fallen 22 percent since early January, meeting Wall Street's definition of a "bear market," or a decline of 20 percent from a recent peak. A number of other indexes have fallen at least 10 percent, known as a "correction." Those include the DAX and Kospi, which both peaked in late January, and the FTSE 100, the Ibex in Spain and the FTSE MIB in Italy, which peaked in May.

U.S. crude rose 0.6 percent to $71.78 a barrel in New York. Brent crude, the standard for international oil prices, added 0.4 percent to $80.78 a barrel in London. Natural gas prices continued to surge as the weather in the U.S. grew colder. They rose 2.6 percent to $3.24 per 1,000 cubic feet and have climbed almost 8 percent in October to reach their highest price since January.

Wholesale gasoline edged up 0.1 percent to $1.94 a gallon and heating oil added 0.2 percent to $2.33 a gallon.

In another sign investors were nervous about stocks, gold rose 0.7 percent to $1,230.30 an ounce and silver picked up 0.6 percent to $14.73 an ounce. Copper lost 0.4 percent to $2.79 a pound.

The dollar fell to 111.88 yen from 112.01 yen. The euro rose to $1.1584 from $1.1563.


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## sptrawler

Triple B said:


> Can someone give me an idea why volatility is less after this sell off compared to the last one??
> More confidence this time perhaps?
> 
> 
> 
> 
> 
> 
> 
> 
> 
> View attachment 89764




Not that I know anything about this charting stuff, but from your chart, it looks as though the correction has taken it back to the longer term trend.
The confidence is probably due to the fact, the Fed is actually ramping up interest rates quite quickly which would indicate a strong underlying economy, which should translate into increased earnings. So I suppose there is an underlying fOMO, if people get out of the market, they may fear they are missing a long term bull run?
Who knows, when has the market ever been driven by common sense, over emotion.


----------



## bigdog

https://www.usnews.com/news/busines...-up-on-hopes-that-us-china-will-solve-dispute

*Stocks Surge, Recovering Some Recent Losses; Dow Climbs 547*
US stocks make their second-biggest gain this year as strong earnings and economic data help the market claw back some of its recent losses.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks rocketed to their biggest gain in six months Tuesday following strong earnings from major financial and health care companies as well as encouraging reports on the economy. The Dow Jones Industrial Average jumped 547 points.

Morgan Stanley, Goldman Sachs and UnitedHealth led a parade of companies that reported profits for the third quarter that surpassed analysts' expectations. Technology companies also jumped after taking steep losses during the market's rout last week.

The S&P 500 index jumped 59.13 points, or 2.1 percent, its largest gain since March 26, and finished at 2,809.92. Stocks have bounced around over the last three days, and the S&P 500 is down 4.1 from its record high on Sept. 20. The Dow gained 547.87 points, or 2.2 percent, to 25,798.42.

The Nasdaq composite climbed 214.75 points, or 2.9 percent, to 7,645.49 as technology companies reversed some of their outsize losses from the last few days. The Russell 2000 index of smaller-company stocks had its biggest rally in almost two years as it surged 43.74 points, or 2.8 percent, to 1,596.84.

Even with the big gains, major indexes are still broadly lower for the month following a two-day rout last week that erased nearly 1,400 points from the Dow.

Investors were encouraged by some good news on the economy. The Federal Reserve said output by U.S. factories, mines and utilities climbed in September despite the effects of Hurricane Florence, and the Labor Department said U.S. employers posted the most jobs in two decades in August while hiring continued to increase.

Scott Wren, senior global equity strategist for the Wells Fargo Investment Institute, said stocks jumped because the industrial production report suggests inflation isn't speeding up, and that investors took that as a sign the Fed won't accelerate the pace of its interest rate increases.

"Anything that helps the market think that the Fed won't make a mistake is good," Wren said.

Netflix soared 12 percent to $387 in aftermarket trading after reporting surprisingly strong subscriber growth during the summer. That was a welcome change from the big losses it took after its second-quarter report, when it posted disappointing subscriber totals and gave a weak forecast. Netflix is up 80.5 percent this year, the fourth-best of any S&P 500 stock.

UnitedHealth, the largest U.S. health insurer and provider of privately-run Medicare Advantage plans, once again topped Wall Street forecasts and raised its projections for the year. The stock climbed 4.7 percent to $272.57. That suggests other health insurers are likely to report strong results in the next few weeks. Cigna advanced 3.9 percent to $211.96.

Health care products giant Johnson & Johnson added 1.9 percent to $136.56 after it said prescription sales jumped.

Morgan Stanley rose 5.7 percent to $45.94 and Goldman Sachs added 3 percent to $221.70 after the two investment banks did better than expected in the third quarter, helped by strong performance in their trading operations and better-than-expected revenue from stock underwriting. Morgan Stanley's stock has fallen 12 percent this year and Goldman has lost 13 percent.

Technology companies rose. Microsoft jumped 3.2 percent to $110.65 and Adobe rallied 9.5 percent to $260.67 after it backed its fourth-quarter profit and revenue forecasts. The stock has jumped 49 percent this year, but had slumped in recent days. Internet companies also advanced. Alphabet, Google's parent company, rose 2.8 percent to $1,133.08.

On Wednesday Canada will legalize marijuana nationwide. While cannabis companies mostly traded lower Tuesday, the stocks have made huge gains this year in highly volatile trading. Tilray fell 4.4 percent to $158.38 while Canopy Growth shed 6.8 percent to $53.01.

Benchmark Capital analyst Mike Hickey started coverage of Tilray with a $200 price target Tuesday, saying its supply deals with pharmacies and a partnership with drugmaker Novartis will help make it an early leader in the market. Hickey valued the Canadian cannabis market at about $3.2 billion in 2019 and said it will climb to $8.1 billion by 2023.

Tilray's market value stands at almost $15 billion, up ninefold since it went public in mid-July. Canopy Growth, which recently announced a big investment from Corona beer maker Constellation Brands, has more than doubled in value to $12.2 billion.

The huge gains reflect investors' view that that other countries will legalize marijuana in the years to come.

U.S. benchmark crude oil added 0.2 percent to $71.92 per barrel in New York. Brent crude, the international standard, rose 0.8 percent to $81.41 per barrel in London.

Wholesale gasoline rose 1.7 percent to $1.98 a gallon and heating oil picked up 0.6 percent to $2.34 a gallon. Natural gas lost 0.1 percent to $3.24 per 1,000 cubic feet.

Bond prices edged lower. The yield on the 10-year Treasury note rose to 3.17 percent from 3.16 percent.

Gold rose 0.1 percent to $1,231 an ounce. Silver lost 0.2 percent to $14.70 an ounce. Copper slipped 0.3 percent to $2.78 a pound.

The dollar rose to 112.18 yen from 111.88 yen. The euro fell to $1.1578 from $1.1584.

France's CAC 40 added 1.5 percent while the DAX in Germany jumped 1.4 percent. Britain's FTSE 100 rose 0.4 percent. Italy's FTSE MIB jumped 2.2 percent after the government avoided last-minute delays in presenting a budget plan.

Japan's benchmark Nikkei 225 rallied 1.2 percent and the Kospi in South Korea was little changed. Hong Kong's Hang Seng index finished 0.1 percent higher.


----------



## bigdog

https://www.usnews.com/news/busines...es-climb-on-strong-us-corporate-earnings-data

*Stocks Erase Most of Early Losses After Huge Gain; IBM Sinks*
US stocks mostly recover from some early losses as banks rise, but technology companies, retailers and homebuilders finish with losses.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — After an early slide, U.S. stocks clawed back much of the ground they lost and ended slightly lower Wednesday. Banks climbed but retailers, homebuilders and smaller companies fell.

Stocks slumped in morning trading as homebuilders and retailers took sharp losses after the Commerce Department said construction of new homes dropped in September. Technology companies fell as IBM suffered its biggest loss in five and a half years after it reported weak sales. Stocks were coming off their biggest gain in more than six months.

Bond prices fell, sending yields higher, after the Federal Reserve said some of its policymakers argued in their latest meeting that the central bank should raise rates to a level that slows economic growth slightly. After years of record low rates following the financial crisis, the fact that some policymakers are talking about eventually using them to slow the economy is a big change.

Jeremy Zirin, head of investment strategy for UBS' global wealth management business, said the Fed won't raise rates to those levels unless there is clear evidence inflation has increased. But he said it makes sense for investors to be wary.

"Overly restrictive monetary policy is a risk to the bull market," he said. "It would be a mistake for (the Fed) to raise rates in the absence of inflation beyond their target, and it's exceedingly unlikely to do so."

The S&P 500 index fell 0.71 points to 2,809.21. The Dow Jones Industrial Average slumped 91.74 points, or 0.4 percent, to 25,706.68. It lost as much as 319 points Wednesday morning before briefly turning higher.

The Nasdaq composite slid 2.79 points to 7,642.70. The Russell 2000 index of smaller-company stocks skidded 7.23 points, or 0.5 percent, to 1,589.60.

Stock trading has been erratic recently. Earlier this month the benchmark S&P 500 index went through a six-day losing streak that included huge drops last Wednesday and Thursday. Then on Friday the S&P 500 jumped 1.4 percent, its biggest rally in three months, fell on Monday, and surged 2.1 percent Tuesday. Trading had been steady from late June to early October.

The Federal Reserve released minutes from its meeting in late September, when it raised interest rates for the third time this year. A few participants believed that the Fed's key interest rate would eventually need to "become modestly restrictive" to make sure inflation doesn't climb too high. Other officials felt the Fed shouldn't take that step unless there are signs the economy is overheating and inflation is rising quickly.

Bond prices sank. The yield on the 10-year Treasury note rose to 3.19 percent from 3.15 percent.

U.S. home construction fell 5.3 percent in September, according to the Commerce Department. The pace of homebuilding has slowed since May, and the report is the latest sign that the combination of rising home values and increasing mortgage rates may be weighing on the market.

Lennar gave up 2.3 percent to $43.08 and PulteGroup shed 3.4 percent to $22.82. Among retailers, Home Depot fell 4.3 percent to $185.17 while Target lost 1.6 percent to $84.42 and Macy's dipped 5 percent to $31.84.

Some investors worried that a weaker housing market is a bad sign for the economy. Zirin, of UBS, said the housing market should keep getting stronger as long as employment is high and wages are rising, but investors aren't sure what is ahead for the economy or stocks.

"When you get into the latter stages of a bull market or the economic expansion, investors get more nervous about the latter stages turning into the end of the cycle," he said. "They start looking for any signals that would lead them to believe that a downturn is imminent."

Insurer Prudential rose 1.9 percent to $99.70 after regulators lifted the strict government oversight that was imposed on the company after the 2008-09 financial crisis. Prudential was deemed "systemically important," which meant it was subject to special restrictions because of its importance to the financial system. It was the last company still carrying that label.

IBM sank 7.6 percent to $134.05 after its sales in the third quarter fell short of analysts' estimates.

The price of U.S. crude oil dropped 3 percent to $69.75 a barrel in New York, its first close below $70 a barrel in a month, after the U.S. government said energy stockpiles jumped last week. Brent crude, the international standard, fell 1.7 percent to $80.05 a barrel in London.

Wholesale gasoline lost 3 percent to $1.92 a gallon and heating oil fell 1.2 percent to $2.31 a gallon. Natural gas jumped 2.5 percent to $3.32 per 1,000 cubic feet.

Netflix added 5.3 percent to $364.70 after the streaming video company said it picked up 7 million subscribers in the third quarter, a total that was above Netflix's own projections as well as analyst forecasts.

The stock set a record high in early July, but a week later, Netflix announced disappointing subscriber totals and gave a weak forecast and its stock tumbled. It is still about 13 percent from its highest price.

The dollar rose to 112.49 yen from 112.18 yen. The euro fell to $1.1507 from $1.1578.

Gold slipped 0.3 percent to $1,227.40 an ounce. Silver lost 0.3 percent to $14.66 an ounce. Copper fell 0.1 percent to $2.78 a pound.

Germany's DAX and the French CAC 40 both fell 0.5 percent. In Britain, the FTSE slipped 0.1 percent.

Japan's benchmark Nikkei 225 jumped 1.3 percent and the Kospi in South Korea advanced 1 percent. Markets in Hong Kong were closed for a holiday.


----------



## bigdog

https://www.usnews.com/news/busines...ag-after-retreat-on-wall-st-weaker-japan-data

*Stocks Sink on Weak Industrial Earnings; Tech Skid Resumes*
U.S. stocks slumped again Thursday as investors continued to sell shares of technology and internet companies, industrials, and companies that rely on consumer spending.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks slumped again Thursday as investors continued to sell shares of technology and internet companies, industrials, and companies that rely on consumer spending.

Several industrial companies tumbled after releasing weak quarterly reports, and European stocks also fell as European Union leaders criticized Italy's spending plans.

At the start of trading, stocks took small losses as bond prices fell and interest rates spiked. While the gain in interest rates didn't last, stocks turned lower late in the morning, and by the end of the day they had wiped away most of their big rally from Tuesday.

Stocks have skidded over the last two weeks, and there are signs investors are worried about future economic growth. The S&P 500 has fallen 5.5 percent in volatile trading since Oct. 3, and technology, industrial and energy companies have taken some of the biggest losses. Those companies tend to do better when the economy is growing more quickly and consumers and businesses have more money to spend.

"If uncertainty starts to creep in around trade or growth, that could be a risk to the recovery in ... corporate spending," said Jill Carey Hall, senior U.S. equity strategist for Bank of America Merrill Lynch. She said investors will monitor company reports over the next few weeks to learn about their business forecasts and plans.

European leaders expressed concern about the Italian government's proposal to increase spending and widen its budget deficit. European Union budget chief Pierre Moscovici told Italy's economic minister that the new government's plans make it unlikely that Italy will be able to reduce its public debt to levels agreed upon by EU countries.

The S&P 500 index shed 40.43 points, or 1.4 percent, to 2,768.78. The Dow Jones Industrial Average lost 327.23 points, or 1.3 percent, to 25,379.45. It was down as much as 470 earlier.

The Nasdaq composite sank 157.56 points, or 2.1 percent, to 7,485.14. The Russell 2000 index of smaller-company stocks declined 28.85 points, or 1.8 percent, to 1,560.75.

Among industrial companies, aircraft maker Textron slid 11.3 percent to $57.49 after its profit and sales fell far short of analyst forecasts. The company said its aerospace and defense business and its industrial business both weakened. Tool and diagnostic equipment company Snap-on lost 9.6 percent to $151.47 after it posted lower revenue than analysts expected.

Industrial and basic materials companies have taken bigger losses than any other part of the market over the last month, and one reason is that investors feel they are especially vulnerable in the ongoing trade dispute between the U.S. and China. They're already dealing with tariffs on imported steel and aluminum, which have increased their costs and can also hurt sales, and if the global economy slows, then manufacturing and construction could slow down, too.

Amazon pulled retailers lower as it lost 3.3 percent to $1,770.72. Video game maker Activision Blizzard lost 8.3 percent to $71.81 after it announced early sales numbers from "Call of Duty: Black Ops 4," and Apple fell 2.3 percent to $216.02.

Those are some of the sectors that have fared the worst recently. The stocks that have held up the best include utility and household products companies. They don't depend as much on economic growth, as consumers are likely to use about the same amount of electricity and buy the same amount of toilet paper or cereal regardless of the state of the economy.

The recent gains for those stocks is notable because the market's slump began when interest rates started rising quickly. Defensive stocks often struggle when interest rates are rising. The companies are known for paying big dividends, similar to bonds, so when rates rise, investors often sell those stocks and buy bonds instead.

Carey Hall said that if the economy keeps growing and interest rates rise, investors might not want to choose between growth-oriented stocks or defensive ones. She said companies in the middle might do best, including some industrials, banks and older technology companies. Those companies could perform still benefit if the economy keeps growing, but they also have enough financial flexibility to raise their dividends to outpace rising interest rates.

Bond prices ended slightly lower. The yield on the 10-year Treasury note 3.18 percent from 3.17 percent.

In Europe, Italy's FTSE MIB dropped 1.9 percent and Italian government bond prices dropped again, sending yields to their highest levels since February of 2014. Germany's DAX dipped 1.1 percent. The French CAC 40 lost 0.5 percent and the FTSE 100 in Britain slipped 0.4 percent.

Japan's Nikkei 225 index sank 0.8 percent and the Kospi in South Korea lost 0.9 percent. Hong Kong's Hang Seng index was little changed, and remained near its lowest level since May 2017.

The price of U.S. crude oil lost 1.6 percent to $68.65 per barrel in New York, its lowest in a month. Brent crude, the international standard, lost 0.9 percent to $79.29 per barrel in London.

Wholesale gasoline fell 1.4 percent to $1.89 a gallon. Heating oil slid 0.7 percent to $2.29 a gallon. Natural gas dropped 3.7 percent to $3.20 per 1,000 cubic feet.

Gold rose 0.2 percent to $1,230.10 an ounce. Silver fell 0.4 percent to $14.60 an ounce. Copper lost 1.1 percent to $2.75 a pound.

The dollar dipped to 112.20 yen from 112.49 yen. The euro fell to $1.1465 from $1.1507.


----------



## bigdog

https://www.usnews.com/news/busines...cks-mixed-after-wall-street-skids-china-slows

*US Stocks Wobble at the End of Another Shaky Week of Trading*
US stocks give up an early gain and finish mixed as consumer goods maker Procter & Gamble surged, but health care stocks and smaller companies fell.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks gave up an early rally Friday and struggled to another mixed finish as investors continued sell former favorites like retailers. Household goods makers rose again as a week of choppy trading concluded.

Stocks surged in early trading after better-than-expected reports from companies including Procter & Gamble, American Express and PayPal. Procter & Gamble, the world's largest consumer products maker, had its biggest rally in 10 years. But the gains for indexes faded after a report showed U.S. home sales fell for the sixth month in a row. That hurt smaller and more U.S.-focused companies.

The market settled back into its usual pattern from the last two weeks, as companies that depend on economic growth struggled and those with more "defensive" qualities such as high dividends did better, a sign investors are worried about a few threats to growth: rising interest rates, trade tensions between the U.S. and China, and this week, some sluggish reports about housing construction and sales.

"We don't see too many other yellow or red flags right now, but (housing is) certainly one of them," said Mona Mahajan, U.S. investment strategist for Allianz Global Investors. Mahajan said that company earnings aren't doing much for the stock market right now because investors know the next two quarters should be strong, and they're concerned that growth in 2019 will be worse than expected.

The S&P 500 index lost 1 point to 2,767.78. The Dow Jones Industrial Average gave up most of an early gain. It jumped as much as 229 points early on but finished 64.89 points higher, or 0.3 percent, at 25,444.34.

Tuesday was the best gain in six months for U.S. stocks, but the S&P 500 fell every other day this week and ended the week up just 0.02 percent. That was good enough to end a three-week run of losses, but most of the market's recent gains have been swiftly followed by declines as trading turned choppy in the last two weeks.

The S&P 500 hasn't risen two days in a row since Sept. 20. That was the last day of a three-day string of gains and also the benchmark index's most recent record high. It's down 5.6 percent since then.

The Nasdaq composite sagged 36.11 points, or 0.5 percent, to 7,449.03. The Russell 2000 index of smaller-company stocks lost 18.71 points, or 1.2 percent, to 1,542.04. The Russell 2000 is at its lowest in almost six months as investors worry that the U.S. economy could slow and interest rates could rise, a bigger challenge for smaller companies.

Procter & Gamble, which makes Tide, Pampers and Gillette razors, soared 8.8 percent to $87.30 after reporting that sales of fabric and home care products rose in its latest quarter while beauty products revenue jumped 20 percent.

Other household goods companies also rose. Pepsi gained 2.2 percent to $110.29 and Coca-Cola added 1.6 percent to $46.33. Electric utility Duke Energy rose 1.8 percent to $82.75.

Aerospace and building components maker Honeywell lagged the rest of the market. It posted a bigger profit than analysts expected, but it also said it is seeing more signs of inflation in its business as a result of the tariffs the U.S. and China have placed on imported goods. Honeywell slid 1.1 percent to $153.47. Industrial companies have skidded recently as investors worried about the results of those trade tensions.

Bond prices slipped. The yield on the 10-year Treasury note rose to 3.19 percent from 3.17 percent.

China said economic growth sank to a post-financial crisis low of 6.5 percent in the third quarter. Chinese finance officials launched a media blitz to shore up confidence in the country's sagging stock market. China's economy has gradually slowed for years, even before a trade dispute between Beijing and U.S. President Donald Trump led to higher tariffs. The Chinese government tightened controls on lending last year to rein in a debt boom, but that, too, has affected the economy.

Hong Kong's Hang Seng rose 0.4 percent Seoul's Kospi added 0.4 percent. Tokyo's Nikkei 225 shed 0.6 percent.

Germany's DAX lost 0.3 percent and France's CAC 40 sank 0.6 percent. London's FTSE 100 gained 0.3 percent and the FTSE MIB was little changed. Tensions between European Union officials and Italy's new government sent Italian stocks and government bond prices lower Thursday. Italian bond prices turned higher Friday and yields slipped.

Benchmark U.S. crude rose 0.7 percent to $69.12 per barrel in New York. Brent crude, used to price international oils, gained 0.6 percent to $79.78 a barrel in London.

Wholesale gasoline rose 1.2 percent to $1.91 a gallon. Heating oil inched up 0.3 percent to $2.30 a gallon. Natural gas added 1.6 percent to $3.25 per 1,000 cubic feet.

Gold dipped 0.1 percent to $1,228.70 an ounce. Silver rose 0.3 percent to $14.65 an ounce. Copper gained 1.1 percent to $2.78 a pound.

The dollar rose to 112.60 yen from 112.20 yen. The euro rose to $1.1510 from $1.1465.

4290


----------



## bigdog

https://www.usnews.com/news/busines...s-gain-after-chinese-assurances-over-slowdown

*Banks Lead US Stock Slide, Extending Market's Losing Streak*
Banks led a broad slide in U.S. stocks Monday as an early rally faded, giving the market its fourth-straight loss.

By ALEX VEIGA, AP Business Writer

Banks led a broad slide in U.S. stocks Monday as an early rally faded, giving the benchmark S&P 500 index its fourth straight loss.

Health care and energy stocks also helped pull the market lower, outweighing gains by technology and consumer-focused stocks. Crude oil prices eked out a small gain after spending most of the day in the red.

The latest losses came as traders geared up for a busy week of company earnings reports that should help answer how Corporate America is coping with rising interest rates, inflation and the impact of global trade disputes.

"The earnings results have the potential to stabilize the market, but what investors are really keen on hearing from companies is what the sustainability of the earnings outlook is, especially in light of the concerns of the potential impact from tariffs," said Laura Kane, head of Investment Themes Americas at UBS Wealth Management Research.

The S&P 500 fell 11.90 points, or 0.4 percent, to 2,755.88. The index is on course for its worst month in more than three years. The Dow Jones Industrial Average lost 126.93 points, or 0.5 percent, to 25,317.41. The tech-heavy Nasdaq recovered from an early tumble, gaining 19.60 points, or 0.3 percent, to 7,468.63.

The Russell 2000 index of smaller-company stocks gave up 2.54 points, or 0.2 percent, to 1,539.50. That's the lowest close for the index since April. It's now up just 0.3 percent for the year.

Decliners outnumbered gainers on the New York Stock Exchange.

Major U.S. stock indexes initially headed higher early Monday, riding a strong wave of buying in Chinese markets as traders brushed off potential concerns about slower growth in the world's second-biggest economy and a downgrade in Italy's credit rating.

That early rally vanished after a few minutes, however, as trading turned volatile. At its extremes, the Dow swung from a gain of more than 100 points to a loss of more than 200.

"In this pullback, the defensive sectors have held in there better than these more cyclical sectors," said Scott Wren, senior global equity strategist at Wells Fargo Investment Institute.

Investors have been worried in recent weeks about potential threats to corporate growth, including rising interest rates, trade tensions between the U.S. and China, and some sluggish reports about housing construction and sales.

This week marks the busiest stretch of the quarterly earnings calendar as many big-name companies report their latest results, including Caterpillar, Amazon and Google's parent company, Alphabet.

Nearly 17 percent of companies in the S&P 500 had served up third-quarter results as of Monday. Of those, 54 percent delivered earnings and revenue that topped Wall Street's forecasts, according to S&P Global Market Intelligence.

Financial and industrial companies account for most of the S&P 500 companies that have reported results so far this earnings season.

Investors are most focused on what companies have to say about what impact, if any, the U.S.-China trade dispute, a stronger dollar and rising interest rates, which can drive up the cost of borrowing and carrying debt, are likely to have in 2019.

"Everybody's trying to get a fix on what 2019 earnings are going to be, because they're sure as heck not going to be what earnings growth was this year, and we all know that," Wren said. "You're not going to have a big tax-induced sugar high like you're having this year."

So far, most companies have said that they expect minimal impact from the hundreds of billions in tariffs that the U.S. and China have imposed or on each other, "though some have taken a more negative tone about what lies ahead," according to a research note published Monday by RBC Capital Markets.

The key concerns cited by companies that issued quarterly results so far this earnings season are higher labor costs, and the price of commodities, transportation and shipping, among others.

Banks and other financial companies took the heaviest losses Monday. Synchrony Financial fell 6 percent to $29.47.

Energy stocks also fell as the price of crude oil spent most of the day lower. Newfield Exploration fell 3 percent to $22.91.

After a sluggish start, technology stocks rebounded in morning trading. Advanced Micro Devices climbed 5.8 percent to $25.03.

Hasbro slid 3.1 percent to $95.01 after the toy maker reported disappointing third-quarter results, partly due to lost sales following the demise of Toys R Us. Hasbro also said it will cut jobs as it deals with the effects of Toys R Us bankruptcy. Rival Mattel also declined, shedding 0.8 percent to $14.10.

Traders hammered Bristol-Myers Squibb after the drugmaker said regulators want three more months to review data from a potential lung cancer treatment regimen. The stock skidded 6.3 percent to $50.88.

Bond prices didn't move much. The yield on the 10-year Treasury held steady at 3.19 percent.

Benchmark U.S. crude recovered from an early skid. It gained 0.1 percent to settle at $69.17 per barrel in New York. Brent crude, used to price international oils, added 0.1 percent to close at $79.83 per barrel in London.

Wholesale gasoline fell 0.4 percent to $1.91 a gallon. Heating oil rose 0.7 percent to $2.32 a gallon. Natural gas slid 3.4 percent to $3.14 per 1,000 cubic feet.

Gold dipped 0.3 percent to $1,224.60 an ounce. Silver fell 0.4 percent to $14.59 an ounce. Copper gained 0.3 percent to $2.79 a pound.

The dollar strengthened to 112.82 yen from 112.60 yen on Friday. The euro fell to $1.1466 from $1.1510.

Major stock indexes in Europe also gave up early gains Monday. Germany's DAX slipped 0.3 percent and France's CAC-40 lost 0.6 percent. Britain's FTSE 100 fell 0.1 percent.

In Asia, the Hang Seng in Hong Kong surged 2.3 percent, while Japan's Nikkei 225 index reversed early losses, gaining 0.4 percent. The Kospi in South Korea added 0.3 percent. Australia's S&P-ASX 200 countered the trend, shedding 0.6 percent. Shares rose in Taiwan, Singapore and Indonesia, but fell in Thailand.


----------



## bigdog

https://finance.yahoo.com/m/9f64424...f75c26a/ss_stocks-mostly-recover-from-an.html

*Stocks mostly recover from an early plunge on Wall Street*




ALEX VEIGA
Associated Press October 24, 2018

A turbulent day on Wall Street ended Tuesday with stocks climbing nearly all the way out of a steep, broad sell-off that at one point erased more than 500 points from the Dow Jones Industrial Average.

Even with the late-afternoon rebound, stocks extended the market's recent string of declines, giving the benchmark S&P 500 index its fifth-straight loss. Bond prices rose, sending yields lower, as investors sought out safer investments.

Hong Kong's Hang Seng index sank 3.1 percent. European markets also closed sharply lower.

The latest selling came as investors grew unsettled over slowing economic growth in China and increased signs that President Donald Trump's aggressive trade policies are beginning to weigh on corporate earnings. Caterpillar and 3M slumped Tuesday after the companies warned of rising costs related to tariffs.

"That's the story, it's not the current quarter results, but the commentary going forward, the impact of tariffs and what that means in terms of costs," said Willie Delwiche, an investment strategist at Baird. "If tariffs didn't come up in earnings calls and commentary, then maybe you could say we were moving away from that, but the opposite is happening."

The S&P 500 fell 15.19 points, or 0.6 percent, to 2,740.69. The Dow lost 125.98 points, or 0.5 percent, to 25,191.43. The average had been down more than 540 points.

The Nasdaq slid 31.09 points, or 0.4 percent, to 7,437.54. The Russell 2000 index of smaller-company stocks gave up 12.91 points, or 0.8 percent, to 1,526.59. The index is now down for the year.

Markets have been rattled in recent weeks by increased worries over the impact that rising interest rates, inflation and the escalating trade dispute between the U.S. and China may have on Corporate America.

Trump has imposed tariffs on about $250 billion in Chinese imports, and Beijing has retaliated by targeting $110 billion in American products. Trump has threatened to tax another $267 billion in Chinese products, a move that would cover virtually everything China ships to America.

The two countries are locked in a dispute over U.S. allegations that China steals U.S. technology and forces U.S. companies to share trade secrets in exchange for access to the Chinese market.

Recent data show China's economic engine is growing more slowly. From July to September, it grew 6.5 percent, the slowest pace since early 2009. The world's second-largest economy was cooling even before the outbreak of a tariff war with Washington. That contrasts with the momentum of the U.S. economy. The government is expected to say Friday that the U.S. economy grew by 3.3 percent in the third quarter, after growing by 4.2 percent in the second quarter.

The strong U.S. economy has helped power earnings growth for companies in the S&P 500. While those companies are expected to deliver 21.9 percent earnings growth for the third quarter, according to S&P Global Market Intelligence, investors are concerned about future growth amid rising inflation, interest rates and uncertainty over trade.

Caterpillar skidded 7.6 percent to $118.98 after the heavy equipment manufacturer warned that Trump's taxes on imported steel were driving up production costs.

3M fell 4.4 percent to $192.55 after its earnings missed Wall Street's targets. The industrial manufacturer said it expects raw material prices to continue climbing, and for tariffs to have a roughly $100 million negative impact on the company's sourcing costs next year.

Caterpillar and 3M were, by far, the biggest decliners in the 30-company Dow average.

Losses in banks, energy and technology companies outweighed gains by internet and consumer-goods stocks. A sharp sell-off in Chinese and other global markets set the stage for the volatile day on Wall Street.

Bond prices rose, sending the yield on the 10-year Treasury note down to 3.17 percent from 3.19 percent late Monday.

Computer-driven trading, which uses algorithms to guide buying and selling, likely drove the gradual, partial rebound toward the end of the day, said Quincy Krosby, chief market strategist at Prudential Financial.

"On the downside and the upside the algorithms are going to kick in and they really push the market in one direction or another," Krosby said.

A big drop in oil prices weighed on energy stocks Tuesday. Marathon Oil dropped 4.8 percent to $19.48.

Truck maker Paccar fell 5.1 percent to $57.40, while engine manufacturer Cummins slid 3.8 percent to $134.64.

Communications stocks were among the biggest gainers. Verizon Communications climbed 4.1 percent to $57.21

Traders also bid up shares in McDonald's after the fast-food chain reported third-quarter results that topped analysts' forecasts. The stock gained 6.3 percent to $177.15.

Close to 17 percent of companies on the broad S&P 500 index have reported earnings for the third quarter, and over half of them did better than expected.

"They're coming in ahead of expectations, generally, but the degree to which they're beating expectations is less than what it has been in previous quarters," Delwiche said. "That's why there's some concern there."

Tesla was among the big gainers Tuesday. The stock vaulted 12.7 percent to $294.14 after Citron Research, a company that for years had bet against the stock, reversed its position and put out a note saying it would be a long-term investor in the electric car and solar panel company.

U.S. crude fell 4.2 percent to settle at $66.43 per barrel. Brent crude, used to price international oils, dropped 4.2 percent to close at $76.44 per barrel. Heating oil slid 3 percent to $2.25 a gallon. Wholesale gasoline lost 3.7 percent to $1.84 a gallon. Natural gas gained 2.4 percent to $3.21 per 1,000 cubic feet.

The dollar weakened to 112.47 yen from 112.82 yen on Monday. The euro rose to $1.1467 from $1.1466.

Gold rose 1 percent to $1,236.80 an ounce. Silver gained 1.4 percent to $14.79 an ounce. Copper dropped 1 percent to $2.76 a pound.

In Europe, the focus was on Italy's dispute with the European Union over its plan to ramp up public spending. The European Union has rejected Italy's budget, a first for an EU member.

Germany's DAX slid 2.2 percent and France's CAC 40 fell 1.7 percent. Britain's FTSE 100 lost 1.2 percent. Japan's Nikkei 225 index fell 2.7 percent and the Kospi in South Korea tumbled 2.6 percent.


----------



## Skate

bigdog said:


> View attachment 89963
> 
> 
> https://finance.yahoo.com/m/9f64424...f75c26a/ss_stocks-mostly-recover-from-an.html
> 
> *Stocks mostly recover from an early plunge on Wall Street*
> 
> 
> 
> 
> ALEX VEIGA
> Associated Press October 24, 2018
> 
> A turbulent day on Wall Street ended Tuesday with stocks climbing nearly all the way out of a steep, broad sell-off that at one point erased more than 500 points from the Dow Jones Industrial Average.
> 
> Even with the late-afternoon rebound, stocks extended the market's recent string of declines, giving the benchmark S&P 500 index its fifth-straight loss. Bond prices rose, sending yields lower, as investors sought out safer investments.
> 
> Hong Kong's Hang Seng index sank 3.1 percent. European markets also closed sharply lower.
> 
> The latest selling came as investors grew unsettled over slowing economic growth in China and increased signs that President Donald Trump's aggressive trade policies are beginning to weigh on corporate earnings. Caterpillar and 3M slumped Tuesday after the companies warned of rising costs related to tariffs.
> 
> "That's the story, it's not the current quarter results, but the commentary going forward, the impact of tariffs and what that means in terms of costs," said Willie Delwiche, an investment strategist at Baird. "If tariffs didn't come up in earnings calls and commentary, then maybe you could say we were moving away from that, but the opposite is happening."
> 
> The S&P 500 fell 15.19 points, or 0.6 percent, to 2,740.69. The Dow lost 125.98 points, or 0.5 percent, to 25,191.43. The average had been down more than 540 points.
> 
> The Nasdaq slid 31.09 points, or 0.4 percent, to 7,437.54. The Russell 2000 index of smaller-company stocks gave up 12.91 points, or 0.8 percent, to 1,526.59. The index is now down for the year.
> 
> Markets have been rattled in recent weeks by increased worries over the impact that rising interest rates, inflation and the escalating trade dispute between the U.S. and China may have on Corporate America.
> 
> Trump has imposed tariffs on about $250 billion in Chinese imports, and Beijing has retaliated by targeting $110 billion in American products. Trump has threatened to tax another $267 billion in Chinese products, a move that would cover virtually everything China ships to America.
> 
> The two countries are locked in a dispute over U.S. allegations that China steals U.S. technology and forces U.S. companies to share trade secrets in exchange for access to the Chinese market.
> 
> Recent data show China's economic engine is growing more slowly. From July to September, it grew 6.5 percent, the slowest pace since early 2009. The world's second-largest economy was cooling even before the outbreak of a tariff war with Washington. That contrasts with the momentum of the U.S. economy. The government is expected to say Friday that the U.S. economy grew by 3.3 percent in the third quarter, after growing by 4.2 percent in the second quarter.
> 
> The strong U.S. economy has helped power earnings growth for companies in the S&P 500. While those companies are expected to deliver 21.9 percent earnings growth for the third quarter, according to S&P Global Market Intelligence, investors are concerned about future growth amid rising inflation, interest rates and uncertainty over trade.
> 
> Caterpillar skidded 7.6 percent to $118.98 after the heavy equipment manufacturer warned that Trump's taxes on imported steel were driving up production costs.
> 
> 3M fell 4.4 percent to $192.55 after its earnings missed Wall Street's targets. The industrial manufacturer said it expects raw material prices to continue climbing, and for tariffs to have a roughly $100 million negative impact on the company's sourcing costs next year.
> 
> Caterpillar and 3M were, by far, the biggest decliners in the 30-company Dow average.
> 
> Losses in banks, energy and technology companies outweighed gains by internet and consumer-goods stocks. A sharp sell-off in Chinese and other global markets set the stage for the volatile day on Wall Street.
> 
> Bond prices rose, sending the yield on the 10-year Treasury note down to 3.17 percent from 3.19 percent late Monday.
> 
> Computer-driven trading, which uses algorithms to guide buying and selling, likely drove the gradual, partial rebound toward the end of the day, said Quincy Krosby, chief market strategist at Prudential Financial.
> 
> "On the downside and the upside the algorithms are going to kick in and they really push the market in one direction or another," Krosby said.
> 
> A big drop in oil prices weighed on energy stocks Tuesday. Marathon Oil dropped 4.8 percent to $19.48.
> 
> Truck maker Paccar fell 5.1 percent to $57.40, while engine manufacturer Cummins slid 3.8 percent to $134.64.
> 
> Communications stocks were among the biggest gainers. Verizon Communications climbed 4.1 percent to $57.21
> 
> Traders also bid up shares in McDonald's after the fast-food chain reported third-quarter results that topped analysts' forecasts. The stock gained 6.3 percent to $177.15.
> 
> Close to 17 percent of companies on the broad S&P 500 index have reported earnings for the third quarter, and over half of them did better than expected.
> 
> "They're coming in ahead of expectations, generally, but the degree to which they're beating expectations is less than what it has been in previous quarters," Delwiche said. "That's why there's some concern there."
> 
> Tesla was among the big gainers Tuesday. The stock vaulted 12.7 percent to $294.14 after Citron Research, a company that for years had bet against the stock, reversed its position and put out a note saying it would be a long-term investor in the electric car and solar panel company.
> 
> U.S. crude fell 4.2 percent to settle at $66.43 per barrel. Brent crude, used to price international oils, dropped 4.2 percent to close at $76.44 per barrel. Heating oil slid 3 percent to $2.25 a gallon. Wholesale gasoline lost 3.7 percent to $1.84 a gallon. Natural gas gained 2.4 percent to $3.21 per 1,000 cubic feet.
> 
> The dollar weakened to 112.47 yen from 112.82 yen on Monday. The euro rose to $1.1467 from $1.1466.
> 
> Gold rose 1 percent to $1,236.80 an ounce. Silver gained 1.4 percent to $14.79 an ounce. Copper dropped 1 percent to $2.76 a pound.
> 
> In Europe, the focus was on Italy's dispute with the European Union over its plan to ramp up public spending. The European Union has rejected Italy's budget, a first for an EU member.
> 
> Germany's DAX slid 2.2 percent and France's CAC 40 fell 1.7 percent. Britain's FTSE 100 lost 1.2 percent. Japan's Nikkei 225 index fell 2.7 percent and the Kospi in South Korea tumbled 2.6 percent.



*CONDENSED Takeaway*

The latest selling came as investors grew unsettled over slowing economic growth in China and the impact that rising interest rates, inflation and the escalating trade dispute between the U.S. and China may have on Corporate America.

Also computer-driven trading, which uses algorithms to guide buying and selling push the market in one direction then another, on the downside and the upside the algorithms are going to keep kicking in.

Skate.


----------



## bigdog

https://www.usnews.com/news/busines...es-mostly-higher-on-strong-japan-factory-data

*Tech Companies Lead Another Steep Sell-Off in US Stocks*
Another torrent of selling gripped Wall Street Wednesday, sending the Dow Jones Industrial Average plummeting more than 600 points and extending a losing streak for the benchmark S&P 500 index to a sixth day.

By ALEX VEIGA, AP Business Writer

Another torrent of selling gripped Wall Street Wednesday, sending the Dow Jones Industrial Average plummeting more than 600 points and erasing its gains for the year.

The tech-heavy Nasdaq composite bore the brunt of the sell-off, leaving it more than 10 percent below its August peak, what Wall Street calls a "correction."

Technology stocks and media and communications companies accounted for much of the selling. AT&T sank after reporting weak subscriber numbers, and chipmaker Texas Instruments fell sharply after reporting slumping demand.

Banks, health care and industrial companies also took heavy losses, outweighing gains by utilities and other high-dividend stocks.

Disappointing quarterly results and outlooks continued to weigh on the market, stoking investors' jitters over future growth in corporate profits. Bond prices continued to rise, sending yields lower, as traders sought safe-haven investments.

"Investors are on pins and needles," said Erik Davidson, chief investment officer at Wells Fargo Private Bank. "There has definitely been a change in sentiment for investors starting with the volatility we had last week. The sentiment and the outlook seems to be turning more negative, or at the very least, less rosy."

The S&P 500 lost 84.59 points, or 3.1 percent, to 2,656.10. The index is now off about 9.4 percent from its Sept. 20 peak.

The Dow tumbled 608.01 points, or 2.4 percent, to 24,583.42. The tech-heavy Nasdaq slid 329.14 points, or 4.4 percent, to 7,108.40. That's the Nasdaq's biggest drop since August 2011, but it's still up 3 percent for the year.

The Russell 2000 index of smaller-company stocks gave up 57.89 points, or 3.8 percent, to 1,468.70.

Bond prices rose, sending the yield on the 10-year Treasury note down to 3.11 percent from 3.16 percent late Tuesday. The slide in bond yields came as traders sought out lower-risk assets.

Investors have grown concerned in recent weeks about whether Corporate America's tax cut-fueled earnings growth this year will be arrested in coming months amid rising inflation, uncertainty over the escalating trade conflict between the U.S. and China and the likelihood of higher interest rates. Recent data showing the housing market is slowing have also fueled speculation that U.S. economic growth will start to slow next year.

The outlooks from some of the companies that reported third-quarter results this week, including Caterpillar, 3M and United Parcel Service, have stoked those worries.

"You've seen more discouraging (company) commentary this quarter than you have the last two," said Tom Martin, senior portfolio manager with Globalt Investments. "You're really starting to get more of a groundswell of caution. There's some concern about the fourth quarter and what that's going to look like."

Shares in iRobot plunged 12.3 percent to $80.49 after the robotics technology company said tariffs will reduce its profitability in the fourth quarter.

Texas Instruments fell 8.2 percent to $92.01 after the chipmaker delivered quarterly results that fell short of Wall Street's forecasts, noting that demand across most markets is slowing.

United Parcel Service slid 5.5 percent to $107.93 after the shipping company reported weak international revenue, while the strong dollar and high fuel prices also hurt its results.

S&P 500 companies are expected to deliver 22 percent earnings growth for the third quarter, with every sector except communications services, which includes Walt Disney, AT&T, Netflix and Google parent Alphabet, expected to show earnings growth, according to S&P Global Market Intelligence.

About 24 percent of the companies in the S&P 500 had reported third-quarter results as of Wednesday. Of those, 57 percent delivered earnings and revenue results that topped Wall Street's forecasts.

High-flying companies like Netflix and Amazon took some of the biggest losses Wednesday. Netflix gave back 9.4 percent to $301.83 and Amazon dropped 5.9 percent to $1,664.20.

Apple slid 3.4 percent to $215.09, while Alphabet fell 5.2 percent to $1,057.12. Facebook gave up 5.4 percent to $146.04.

AT&T was among the big decliners in the media and communications sector, dropping 8.1 percent to $30.36 after the communication giant's latest quarterly results fell short of Wall Street's expectations.

The Commerce Department said sales of new U.S. homes plunged 5.5 percent in September, the fourth monthly drop. The report is the latest sign that the housing market is cooling amid rising mortgage rates. Several homebuilders declined following the release of the report. Beazer Homes USA slumped 8.4 percent to $8.44.

Boeing was one of the few gainers Wednesday. It rose 1.3 percent to $354.65 after the defense contractor's latest quarterly results topped analysts' forecasts. The company also raised its estimates for the year, citing faster orders for aircraft.

Benchmark U.S. crude edged up 0.6 percent to settle at $66.82 a barrel in New York. Brent crude, used to price international oils, slid 0.4 percent to $76.17 a barrel in London.

Heating oil was little changed at $2.25 a gallon. Wholesale gasoline slipped 0.8 percent to $1.82 a gallon. Natural gas declined 1.4 percent to $3.17 per 1,000 cubic feet.

Energy stocks declined despite the modest pickup in U.S. oil prices. Valero Energy slid 5.4 percent to $86.69.

The dollar weakened to 112.44 yen from 112.47 yen on Tuesday. The euro fell to $1.1387 from $1.1467.

Gold fell 0.5 percent to $1,231.10 an ounce. Silver dropped 0.8 percent to $14.68 an ounce. Copper was little changed at $2.76 a pound.

Several global stock indexes also finished lower Wednesday. Germany's DAX fell 0.7 percent, while the CAC 40 in France lost 0.3 percent. Britain's FTSE 100 inched up 0.1 percent.

Japan's Nikkei 225 index rose 0.4 percent after a private survey pointed to a recovery in manufacturing in October. Hong Kong's Hang Seng index dropped 0.4 percent and the Kospi in South Korea gave up 0.4 percent.


----------



## SirRumpole

That Trump guy really is a genius isn't he ?


----------



## bigdog

https://www.usnews.com/news/busines...hares-extend-losses-after-rout-on-wall-street

*After Long Losing Streak, US Stocks Surge on Solid Earnings*
Strong results from major companies including Microsoft, Visa and Comcast send U.S. stocks sharply higher Thursday.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Strong results from major companies including Microsoft and Visa helped U.S. stocks bust out of another losing streak Thursday. The rally wiped out part of the market's plunge from the day before, but stocks are still down sharply over the past three weeks.

Technology companies soared as Microsoft, Visa and Xilinx rallied after their quarterly reports, while Twitter and Comcast led the way for internet and media companies. Ford's results helped consumer-focused stocks.

Some encouraging economic news helped stabilize markets. The Commerce Department said orders to U.S. factories for major manufactured goods grew in September, and the increase was larger than analysts expected.

In Europe, European Central Bank President Mario Draghi said the region's economy is still growing at a solid clip even though there are signs it has weakened somewhat recently. But Asian markets took big losses, as the U.S. market did the day earlier.

The S&P 500 index jumped 49.47 points, or 1.9 percent, to 2,705.57. The Dow Jones Industrial Average rose 401.13 points, or 1.6 percent, to 24,984.55 after rising as much as 520 points during the day. The Nasdaq surged 209.93 points, or 3 percent, to 7,318.34 after its biggest drop in seven years.

The S&P 500 had index plunged 9.2 percent since Oct. 3 as investors worried about climbing interest rates and the effects of the U.S-China trade dispute. The Nasdaq plummeted 11.4 percent through Wednesday.

Investors are worried that rising interest rates and disputes with trading partners could hurt the economy. They will get more insight into how the U.S. is doing early Friday when the government reports on economic growth during the third quarter. Experts think the country's gross domestic product grew 3.3 percent from July to September, according to FactSet.

Microsoft surpassed analysts' forecasts in the first quarter as it mined new revenue sources in online subscriptions, gaming and its LinkedIn professional networking service. Shares of the tech giant jumped 5.8 percent to $108.30.

"It's certainly reassuring to see stocks bounce back today on stronger earnings, but I would expect that we continue to see a lot of day to day volatility," said Kate Warne, an investment strategist for Edward Jones.

Twitter soared 15.5 percent to $31.80 and electric car maker Tesla jumped 9.1 percent to $314.86 after their quarterly reports, while video game maker Take-Two vaulted 8.8 percent to $120.70 after strong reviews for its latest game, "Red Dead Redemption 2."

The S&P 500 suffered two separate six-day losing streaks this month and had fallen for 13 out of the past 15 days. That stretch also included a couple of big rallies, but the losses erased the benchmark index's gains from earlier in the year. After Thursday's gains, the Dow and S&P 500 are each up about 1 percent for the year.

Warne, of Edward Jones, said investors have been dumping shares of companies that reported weak results, while companies that surpassed expectations haven't been rewarded much. She expects that to change when the dust settles.

"When we get beyond earnings season and investors are wondering what now can drive the market higher or lower, knowing that we had a strong earnings season and companies did not lower their guidance very much will provide some support for stocks," she said.

Earnings for S&P 500 companies grew about 20 percent in the first and second quarters, and experts expect similar results for the third quarter.

On Thursday the stock market looked the way it has looked for most of this year: high-tech and consumer-focused companies lead the way while steadier, defensive stocks that pay big dividends weren't doing much, or lost ground. But huge companies like Microsoft, Alphabet and Amazon.

While all three rallied Thursday following Microsoft's earnings, investors didn't like what they heard from Amazon and Alphabet, which reported earnings after the close of trading. The internet retailer dropped 4.8 percent in aftermarket trading while Google's parent company lost 3.2 percent.

Smaller, more U.S.-focused companies have also been sinking as Wall Street worries about future growth in the U.S. economy, which is tightly connected to their profits, as well as the possibility that rising interest rates will make it tougher for them to pay back their debts.

The Russell 2000 index gained 31.70 points, or 2.2 percent, to 1,500.40. It's fallen 13.8 percent since the end of August and is down 2.3 percent so far this year.

The French CAC 40 jumped 1.6 percent and Germany's DAX added 1 percent. The British FTSE 100 rose 0.6 percent, although WPP, the world's largest advertising company, said its business slowed in the third quarter and warned about weaker annual earnings. U.S.-traded shares of WPP fell 17.5 percent to $57.75.

Japan's Nikkei 225 index swooned 3.7 percent and Hong Kong's Hang Seng index ended 1 percent lower. The Kospi in South Korea dropped 1.6 percent. The heaviest losses came from technology companies including chipmakers Tokyo Electron and Taiwan Semiconductor Manufacturing and South Korea's Samsung Electronics. Japanese telecom and energy giant Softbank lost 4.4 percent.

U.S. bond prices were little changed. The yield on the 10-year Treasury note remained at 3.12 percent.

Benchmark U.S. crude rose 0.8 percent to $67.33 a barrel. Brent crude, the benchmark for international oil prices, rose 0.9 percent to $76.89 a barrel.

Wholesale gasoline lost 0.5 percent to $1.81 a gallon. Heating oil added 1.2 percent to $2.28 a gallon and natural gas gained 1.1 percent to $3.20 per 1,000 cubic feet.

Gold rose 0.1 percent to $1,232.40 an ounce. Silver fell 0.3 percent to $14.63 an ounce. Copper dipped 0.1 percent to $2.75 a pound.

The dollar climbed to 112.61 yen from 112.44 yen. The euro fell to $1.1359 from $1.1387.


----------



## bigdog

*A SEA OF RED!!!*





https://www.usnews.com/news/busines...-shares-mostly-lower-despite-us-markets-rally

*Stocks Slump Again; S&P 500, Dow Back Into Red for Year*
Stocks are back in the red for the year as another big slump rocks Wall Street.

By ALEX VEIGA, AP Business Writer

Stocks are back in the red for the year after another wave of selling hit Wall Street Friday.

The latest plunge came at the end of an unusually turbulent week of trading that had one huge gain sandwiched between massive losses.

A three-week slide has left the benchmark S&P 500 index on track for its worst month since February 2009, right before the stock market hit bottom following the 2008 financial crisis.

Longtime market favorites like Amazon led the way lower after reporting weak results. Technology and consumer-focused companies accounted for much of the sell-off.

Media and communications stocks, banks and health care companies also took heavy losses. Bond prices rose, sending yields lower, as investors sought out less risky assets.

The Dow Jones Industrial Average fell nearly 300 points and the S&P 500, a benchmark for many index funds, is now down 9.3 percent from its September peak. That's just shy of what Wall Street calls a "correction," or a drop of 10 percent or more from a peak. The last S&P 500 correction happened in February.

The stock market has whipsawed this week, with the Dow slumping 500 points over the first two days of the week, plunging 608 on Wednesday, soaring 401 points Thursday and then plunging again on Friday. The ups and downs came during the busiest week for third-quarter company earnings.

"We're going through this transition where, earlier in the year, the corporate earnings results were just a blowout and now they're more mixed," said David Lefkowitz, senior equity strategist Americas at UBS Global Wealth Management. "That's causing some of this volatility."

The S&P 500 index slid 46.88 points, or 1.7 percent, to 2,658.69.

The Dow dropped 296.24 points, or 1.2 percent, to 24,688.31. The average was briefly down 539 points.

The tech-heavy Nasdaq composite lost 151.12 points, or 2.1 percent, to 7,167.21. The Russell 2000 index of smaller-company stocks gave up 16.58 points, or 1.1 percent, to 1,483.82. The S&P 500 and Dow are now down for the year again.

Stock trading turned volatile in October after a placid summer, with big sell-offs in the sectors that have powered the bulk of the gains during the market's long bull run.

Disappointing quarterly results and outlooks have stoked investors' jitters over future growth in corporate profits, a key driver of the stock market.

Traders are worried that rising interest rates and the escalating U.S.-China trading dispute could hurt the economy and dampen corporate earnings growth.

"There's still uncertainty facing equity investors," said Gary Pollack, managing director at Deutsche Bank Wealth Management. "And the GDP report this morning showed the economy slowing down from the second quarter."

The Commerce Department said the U.S. economy's gross domestic product, a measure of total output of goods and services, grew at a robust annual rate of 3.5 percent in the July-September quarter. That's higher than what many economists had been projecting, but lower than the 4.2 percent rate of growth in the second quarter.

While a sharp increase in personal consumption helped boost the overall GDP reading, there was also an increase in business inventories during the quarter. That could mean that companies may pull back on beefing up their stockpiles in the fourth quarter, Pollack said.

Amazon and Google parent company Alphabet slumped after both companies reported quarterly reported revenue figures that fell short of analysts' estimates. Amazon sank 7.8 percent to $1,642.81 while Alphabet fell 1.8 percent to $1,083.75.

Mattel dropped 2.8 percent to $13.45 after the toy maker served up quarterly results that fell short of analysts' forecasts.

Colgate-Palmolive lost 6.6 percent to $59.58 after the maker of consumer products didn't earn as much revenue in the latest quarter as analysts expected.

In a bright spot, chipmaker Intel gained 3.1 percent to $45.69 after it reported strong quarterly results and raised its outlook.

U.S. bond prices rose. The yield on the 10-year Treasury note fell to 3.08 percent from 3.13 percent late Thursday.

Benchmark U.S. crude rose 0.4 percent to settle at $67.59 a barrel in New York. Brent crude, the benchmark for international oil prices, added 0.9 percent to close at $77.62 a barrel in London.

Wholesale gasoline gained 0.1 percent to $1.82 a gallon. Heating oil jumped 1.1 percent to $2.30 a gallon and natural gas fell 0.5 percent to $3.19 per 1,000 cubic feet.

The dollar fell to 111.85 yen from 112.61 yen on Thursday. The euro rose to $1.1412 from $1.1359.

Gold rose 0.3 percent to $1,235.80 an ounce. Silver gained 0.5 percent to $14.70 an ounce. Copper dipped 0.5 percent to $2.74 a pound.

Major European stock indexes fell. Germany's DAX slipped 0.9 percent, while France's CAC 40 dropped 1.3 percent. Britain's FTSE 100 slid 0.9 percent. In Asia, Japan's benchmark Nikkei 225 lost 0.4 percent, while South Korea's Kospi dropped 1.8 percent. Australia's S&P/ASX 200 was flat. Hong Kong's Hang Seng sank 1.1 percent.

5390


----------



## Darc Knight

U.S. unemployment rate now below 4%. EVERY single time that has happened the U.S. has gone into recession! Only saving grace is the Underemployment rate is high also.


----------



## bigdog

https://www.usnews.com/news/business/articles/2018-10-29/asian-stocks-mixed-after-wall-street-tumble

*Stocks Tumble Again on Report US Plans More Tariffs*
Stocks close sharply lower in another turbulent day of trading following a report that the U.S. is preparing to put tariffs on all remaining Chinese imports if talks between the countries don't produce progress.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Fear that the Trump administration will announce tariffs on all remaining imports from China helped knock U.S. stocks from a strong early gain to another sharp loss Monday.

Technology companies sank again after Bloomberg News reported that the U.S. is planning new tariffs if the two sides don't make progress in trade talks next month.

Technology and internet companies, industrials and retailers took steep losses as Wall Street's recent bout of volatility continued. The S&P 500 index has dropped 9.4 percent in October and is on track for its worst monthly loss since February 2009. That was right before the market hit its lowest point during the 2008-09 financial crisis.

Bloomberg News reported that the Trump administration will put tariffs on the rest of the country's imports from China if Presidents Donald Trump and Xi Jinping don't make substantial progress in easing the trade dispute next month.

The S&P 500 index fell 17.44 points, or 0.7 percent, to 2,641.25.

The Dow Jones Industrial Average gained as much as 352 points Monday morning but closed down 245.39 points, or 1 percent, to 24,442.92. It fell as much as 566 during the day.

The Nasdaq composite, which is heavily weighted with technology stocks, lost 116.92 points, or 1.6 percent, to 7,050.29. The Russell 2000 index of smaller-company stocks gave up 6.51 points, or 0.4 percent, to 1,447.31.

Stocks have plunged since early October, breaking a long period of relative calm over the summer, and trading has been especially volatile the last few days.

Among industrials, Boeing sank 6.6 percent to $335.59. Some early gains for tech and internet stocks also faded. Microsoft shed 2.9 percent to $103.85. Alphabet, Google's parent company, lost 4.5 percent to $1,034.73.

Amazon.com dropped another 6.3 percent to $1,538.88. The online retailer tumbled Friday after it reported weak sales and gave a lower-than-expected revenue estimate for the quarter that includes the holiday shopping season. Its stock traded above $2,000 a share in early September and has fallen 24.5 percent since then.

The S&P 500, the main benchmark for the U.S. stock market, has fallen 9.9 percent from its latest record high on Sept. 20. The Nasdaq has plunged 13 percent from its record high reached Aug. 29.

For most of this year investors have remained hopeful that the U.S. and China would work out their disagreements on trade policy and that many of the tariffs would be reduced or eliminated. But in recent weeks they've lost some of their confidence, and that's contributed to the market's tumble

The effects of higher tariffs could be especially severe for technology companies, which make many of their products in China, and for industrial companies, which are already paying higher prices for metals. The U.S. and China are the world's largest economies and their trade relationship is the world's largest, so the higher taxes on imports could also slow global economic growth and increase inflation.

While most technology companies fell, open-source software company Red Hat jumped after IBM agreed to buy it for $34 billion in stock. IBM Chairman and CEO Ginni Rometty said the deal will make IBM the world's biggest hybrid cloud provider, meaning it will offer companies a mix of on-site, private and third-party public cloud services.

Red Hat soared 45.4 percent to $169.63, reversing its losses from earlier this year. IBM fell 4.1 percent to $119.64.

The prospect of reduced barriers to trade helped auto makers on Monday. Car companies rose after Bloomberg News reported that regulators in China intend to propose cutting the tax on imported cars to 5 percent from 10 percent. The trade fight between the U.S. and China has hurt sales, and that slowdown is one of several factors that have damaged car company stocks this year.

Ford climbed 3.3 percent to $9.28 and auto parts retailer BorgWarner advanced 4 percent to $39.56. After Cooper Tire & Rubber reported a bigger third-quarter profit than analysts expected, its stock surged 21.4 percent to $30.89.

Germany's DAX rose 1.2 percent as Volkswagen, Daimler and BMW made big gains. Italy's FTSE MIB index rose 1.9 percent after Standard & Poor's did not downgrade the company's credit rating. Italy's new government plans to ramp up spending and European Union leaders have demanded it change its plans.

The CAC 40 in France added 0.4 percent and the British FTSE 100 rose 1.3 percent.

Mexico's stock index shed 4.2 percent after President-elect Andres Manuel Lopez Obrador said he will respect the result of a referendum that rejected a partly-built new airport for Mexico City. He said 70 percent of voters opposed the $13 billion project.

Brazil's Bovespa rose in morning trading after far-right politician Jair Bolsonaro was elected president, but it later turned lower and lost 2.2 percent. Stocks climbed earlier this month after Bolsonaro led the previous round of voting, as investors preferred him to leftist parties.

Bond prices dipped. The yield on the 10-year Treasury note rose to 3.08 percent from 3.07 percent.

The price of U.S. crude oil dropped 0.8 percent to $67.04 per barrel in New York while Brent crude, used to price international oils, lost 0.4 percent to $77.34 per barrel in London.

Wholesale gasoline added 0.5 percent to $1.82 a gallon and heating oil slid 0.8 percent to $2.28 a gallon. Natural gas was unchanged at $3.19 per 1,000 cubic feet.

Gold lost 0.7 percent to $1,227.60 an ounce. Silver fell 1.8 percent to $14.44 an ounce. Copper was little changed at $2.74 a pound.

The dollar rose to 112.35 yen from 111.85 yen. The euro fell to $1.1390 from $1.1412.

Tokyo's Nikkei 225 sank 0.2 percent and Seoul's Kospi lost 1.5 percent. Hong Kong's Hang Seng advanced 0.4 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ise-as-weaker-yuan-eases-fear-of-more-tariffs

*Stocks Rally on Earnings a Day After Ending at 5-Month Lows*
Stocks are climbing as strong results from a number of companies help the market regain a sliver of its recent losses.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks climbed Tuesday after solid earnings reports from several big companies. Stocks had closed at five-month lows the day before, and groups of companies that struggled badly made big gains.

Many of the best-performing stocks Tuesday came from parts of the market that have fared the worst during the market's plunge this month. Those included smaller and more U.S.-focused companies, internet and media companies, basic materials makers and energy companies.

Oreo maker Mondelez and athletic apparel maker Under Armour both jumped following strong third-quarter reports.

Corporate earnings are up about 20 percent this year as the U.S. economy gains strength and corporate taxes come down after last year's tax cut. Analysts expect company profits to keep growing in 2019, but at a slower pace.

Julian Emanuel, chief equity and derivative strategist for BTIG, said investors are worried about two things that could slow the economy further: the U.S.-China trade dispute, and the Federal Reserve raising interest rates.

"All of this fear about growth is being traded on something we don't see in the statistics right now," he said. "You factually don't have signs of an economic slowdown yet."

The S&P 500 index jumped 41.38 points, or 1.6 percent, to 2,682.63. On Monday the benchmark index closed at its lowest level since early May following a report that the Trump administration could announce more tariffs on imports from China in December.

The Dow Jones Industrial Average gained 431.72 points, or 1.8 percent, to 24,874.64. The Nasdaq composite advanced 111.36 points, or 1.6 percent, to 7,161.65. The Russell 2000 index of smaller-company stocks rose 29.33 points, or 2 percent, to 1,506.64.

Trading remained uneven: the S&P 500 fell at the start of trading and then turned sharply higher. In the afternoon the index gave up all of its gains and briefly turned lower, but recovered to finish near its highest levels of the day.

Mondelez, which makes Cadbury chocolates and Trident gum in addition to Oreos, rose by the most in a year after its quarterly profit surpassed analysts' projections. Its stock gained 5 percent to $42.12. Other household goods makers also did well. Walmart rose 2.6 percent to $102.42.

Among media companies, video game maker Take-Two Interactive soared 11 percent to $124.01 after it said its game "Red Dead Redemption 2" brought in $725 million in retail sales over its first three days. Take-Two shares are sharply lower this month as media, internet and technology companies have taken a beating.

Some of the worst losses during the market's current downturn were sustained by longtime investor favorites that had soared in recent months. Amazon and Netflix have both plunged 24 percent in October, but those companies had more to lose than many others did: Amazon is still up 31 percent this year, and Netflix has climbed 49 percent.

Elsewhere among internet and media companies, Comcast jumped 4.8 percent and Facebook rose 2.9 percent to $146.22. The social media company rose another 1.4 percent in aftermarket trading after its third-quarter profit was larger than analysts expected.

Among technology companies, chipmaker Intel rose 5.2 percent to $47.76.

While those stocks have slumped lately, the S&P 500's index of utilities and household goods makers have each climbed 3 percent this month. The broader S&P 500 has tumbled 7.9 percent over the same time.

General Electric cut its dividend again. The company halved its dividend to 12 cents from 24 cents in December, and cut it to 1 cent Tuesday. The struggling industrial giant also said the Justice Department has opened a criminal investigation into a $22 billion charge it booked to its power business this year. Securities regulators were also conducting a civil probe.

The stock sank 8.8 percent to $10.18, its lowest price since April 2009.

European stocks mostly fell following a report that the region's economy slowed down in the third quarter. The economy of the 19-country eurozone unexpectedly slowed in the third quarter. It expanded by 0.2 percent in the July-September period, which fell short of analyst forecasts. Experts say growth is likely to pick up again, but it's unlikely to match last year's strong performance as the region faces issues like Britain's departure from the EU, trade disputes and a clash with Italy over that country's budget.

Germany's DAX fell 0.4 percent and France's CAC 40 lost 0.2 percent. Britain's FTSE 100 added 0.1 percent.

A weakening of the Chinese yuan helped some stock indexes in Asia. Japan's Nikkei 225 index jumped 1.5 percent after official data showed that the unemployment rate dipped to 2.3 percent in September. South Korea's Kospi picked up 0.9 percent. Hong Kong's Hang Seng fell 0.9 percent.

Bond prices fell. The yield on the 10-year Treasury note rose to 3.12 percent from 3.08 percent.

Benchmark U.S. crude shed 1.3 percent to $66.18 per barrel in New York. Brent crude, used to price international oils, lost 1.8 percent to $75.91 per barrel in London.

Wholesale gasoline fell 1 percent to $1.81 a gallon. Heating oil lost 1.1 percent to $2.26 a gallon and natural gas declined 0.3 percent to $3.19 per 1,000 cubic feet.

Gold lost 0.2 percent to $1,225.30 an ounce. Silver rose 0.1 percent to $14.46 an ounce. Copper slumped 2.8 percent to $2.66 a pound.

The dollar rose to 112.96 yen from 112.35 yen. The euro fell to $1.1342 from $1.1390.


----------



## bigdog

*A SEA OF GREEN FOR A CHANGE*





https://www.usnews.com/news/busines...es-climb-on-strong-us-earnings-boj-stands-pat

*US Stocks Rally Again, but Finish October With Steep Losses*
Stocks climbed for the second day in a row Wednesday at the end of a brutal month for the global market.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks climbed for the second day in a row Wednesday at the end of a brutal month for the global market. Investors applauded strong quarterly results from companies including Facebook and General Motors, but U.S. stocks still finished with their worst monthly loss in seven years.

Markets in Europe, Asia and the U.S. rallied following better-than-expected results from various companies and continued hiring by U.S. businesses. Many of the biggest gains Wednesday came from technology and internet companies and retailers, which plunged early in October as investors worried about rising interest rates and the U.S.-China trade dispute.

The S&P 500 hadn't risen for two consecutive days since late September. It finished October with a loss of 6.9 percent, its worst since September 2011. The third quarter of this year was the best in five years for U.S. stocks, but those gains were wiped out this month. The S&P 500 is now up 1.4 percent for the year.

Stocks began sinking on Oct. 3 as interest rates rocketed higher. Even after those gains eased, investors kept selling stocks as they worried about the trade dispute and other factors that could also hurt economic growth and company profits.

Investors are that much more nervous because corporate profit growth is already expected to slow in 2019 after it jumped this year, a big portion of which stemmed from the one-time corporate tax cut.

Schroders Investment Strategist Marina Severinovsky said several different factors could help stocks over the next few weeks: corporate stock purchases are expected to increase, and U.S. President Donald Trump and China's Xi Jinping could meet next month, an opportunity for progress in U.S.-China trade talks.

"If there's any kind of movement, even a stay of execution (on tariff hikes), could be a positive for the market," she said. Severinovsky added that whatever the outcome of next week's midterm elections, stocks will probably rise once they are over.

"Markets tend to rally on certainty," she said.

The S&P 500 index rose 29.11 points, or 1.1 percent, to 2,711.74. The Dow Jones Industrial Average gained 241.12 points, or 1 percent, to 25,115.76. The Nasdaq composite jumped 144.25 points, or 2 percent, to 7,305.90.

The Russell 2000 index of smaller companies edged up 4.78 points, or 0.3 percent, to 1,511.41. Smaller and more U.S.-focused companies did even worse than the rest of the stock market in October.

Facebook had a mixed third quarter, with better-than-expected earnings and disappointing revenue. But after the company's recent losses, even that was a relief to Wall Street. After a 2.9 percent gain Tuesday, the stock rose 3.8 percent to $151.79.

Other high-flying internet and tech stocks did better. Netflix jumped 5.6 percent to $301.78 and Amazon soared 4.4 percent to $1,598.01. Apple, which held up much better than the broader stock market this month, gained 2.6 percent to $218.86.

Facebook has plummeted 30 percent since reaching a record high in late July. That same month, the social network reported weaker-than-expected user growth and said it's spending more on security, moderation and product development.

Investors worry that companies like Facebook will be subject to more regulation following several data privacy scandals as well as online election meddling from outside the U.S. Facebook is also facing harsh criticism that its platform is being used to inflame ethnic and religious conflict in Myanmar. On top of all that, high-tech stocks like Facebook have stumbled this month as investors looked for safer, steadier options.

Amazon fell 20 percent for the month, wiping out around $200 billion in market value. The tech-heavy Nasdaq skidded 9.2 percent, its biggest one-month loss since November 2008.

General Motors also did far better than expected in the third quarter as it raised prices in North America and its China division held up well. The company also moved to cut costs by offering buyouts to about 18,000 white-collar employees in North America. The stock jumped 9.1 percent to $36.59.

Bond prices dropped. The yield on the 10-year Treasury note rose to 3.14 percent from 3.11 percent.

The French CAC 40 surged 2.3 percent as aircraft maker Airbus and cosmetics maker L'Oreal's both jumped. Germany's DAX gained 1.4 percent and Britain's FTSE 100 added 1.3 percent.

Japan's Nikkei 225 index jumped 2.2 percent and Hong Kong's Hang Seng rose 1.6 percent. The Kospi in South Korea gained 0.7 percent.

Stock indexes overseas also tumbled in October. The Hang Seng, Kospi, CAC 40 and Mexico's Bolsa all did worse than the S&P 500. U.S. stocks had done far better than all of those indexes this year.

"The U.S. was showing extraordinary outperformance to the rest of the world, and it wasn't necessarily justifiable," said Severinovsky, of Schroeders.

The last winning streak for the S&P 500 was a three-day string of gains that ended on Sept. 20, the day of its latest record high. That was 28 trading days ago. According to Ryan Detrick of LPL Financial, that's one of the longest gaps since the Great Depression: the S&P 500 also went 28 days without a winning streak in 1970, 1994 and 2015.

Benchmark U.S. crude fell 1.3 percent to $65.31 per barrel in New York. Brent crude, used to price international oils, shed 0.6 percent to $75.47 per barrel in London.

Energy companies have lagged the market as U.S. crude has fallen 10 percent this month.

Wholesale gasoline lost 2.1 percent to $1.77 a gallon. Heating oil edged up 0.1 percent to $2.26 a gallon. Natural gas rose 2.3 percent to $3.26 per 1,000 cubic feet.

Gold lost 0.8 percent to $1,215 an ounce. Silver fell 1.2 percent to $14.28 an ounce. Copper slipped 0.2 percent to $2.66 a pound.


----------



## Skate

bigdog said:


> *A SEA OF GREEN FOR A CHANGE*
> View attachment 90085
> 
> 
> https://www.usnews.com/news/busines...es-climb-on-strong-us-earnings-boj-stands-pat
> 
> *US Stocks Rally Again, but Finish October With Steep Losses*
> Stocks climbed for the second day in a row Wednesday at the end of a brutal month for the global market.
> 
> By MARLEY JAY, AP Markets Writer
> 
> NEW YORK (AP) — Stocks climbed for the second day in a row Wednesday at the end of a brutal month for the global market. Investors applauded strong quarterly results from companies including Facebook and General Motors, but U.S. stocks still finished with their worst monthly loss in seven years.
> 
> Markets in Europe, Asia and the U.S. rallied following better-than-expected results from various companies and continued hiring by U.S. businesses. Many of the biggest gains Wednesday came from technology and internet companies and retailers, which plunged early in October as investors worried about rising interest rates and the U.S.-China trade dispute.
> 
> The S&P 500 hadn't risen for two consecutive days since late September. It finished October with a loss of 6.9 percent, its worst since September 2011. The third quarter of this year was the best in five years for U.S. stocks, but those gains were wiped out this month. The S&P 500 is now up 1.4 percent for the year.
> 
> Stocks began sinking on Oct. 3 as interest rates rocketed higher. Even after those gains eased, investors kept selling stocks as they worried about the trade dispute and other factors that could also hurt economic growth and company profits.
> 
> Investors are that much more nervous because corporate profit growth is already expected to slow in 2019 after it jumped this year, a big portion of which stemmed from the one-time corporate tax cut.
> 
> Schroders Investment Strategist Marina Severinovsky said several different factors could help stocks over the next few weeks: corporate stock purchases are expected to increase, and U.S. President Donald Trump and China's Xi Jinping could meet next month, an opportunity for progress in U.S.-China trade talks.
> 
> "If there's any kind of movement, even a stay of execution (on tariff hikes), could be a positive for the market," she said. Severinovsky added that whatever the outcome of next week's midterm elections, stocks will probably rise once they are over.
> 
> "Markets tend to rally on certainty," she said.
> 
> The S&P 500 index rose 29.11 points, or 1.1 percent, to 2,711.74. The Dow Jones Industrial Average gained 241.12 points, or 1 percent, to 25,115.76. The Nasdaq composite jumped 144.25 points, or 2 percent, to 7,305.90.
> 
> The Russell 2000 index of smaller companies edged up 4.78 points, or 0.3 percent, to 1,511.41. Smaller and more U.S.-focused companies did even worse than the rest of the stock market in October.
> 
> Facebook had a mixed third quarter, with better-than-expected earnings and disappointing revenue. But after the company's recent losses, even that was a relief to Wall Street. After a 2.9 percent gain Tuesday, the stock rose 3.8 percent to $151.79.
> 
> Other high-flying internet and tech stocks did better. Netflix jumped 5.6 percent to $301.78 and Amazon soared 4.4 percent to $1,598.01. Apple, which held up much better than the broader stock market this month, gained 2.6 percent to $218.86.
> 
> Facebook has plummeted 30 percent since reaching a record high in late July. That same month, the social network reported weaker-than-expected user growth and said it's spending more on security, moderation and product development.
> 
> Investors worry that companies like Facebook will be subject to more regulation following several data privacy scandals as well as online election meddling from outside the U.S. Facebook is also facing harsh criticism that its platform is being used to inflame ethnic and religious conflict in Myanmar. On top of all that, high-tech stocks like Facebook have stumbled this month as investors looked for safer, steadier options.
> 
> Amazon fell 20 percent for the month, wiping out around $200 billion in market value. The tech-heavy Nasdaq skidded 9.2 percent, its biggest one-month loss since November 2008.
> 
> General Motors also did far better than expected in the third quarter as it raised prices in North America and its China division held up well. The company also moved to cut costs by offering buyouts to about 18,000 white-collar employees in North America. The stock jumped 9.1 percent to $36.59.
> 
> Bond prices dropped. The yield on the 10-year Treasury note rose to 3.14 percent from 3.11 percent.
> 
> The French CAC 40 surged 2.3 percent as aircraft maker Airbus and cosmetics maker L'Oreal's both jumped. Germany's DAX gained 1.4 percent and Britain's FTSE 100 added 1.3 percent.
> 
> Japan's Nikkei 225 index jumped 2.2 percent and Hong Kong's Hang Seng rose 1.6 percent. The Kospi in South Korea gained 0.7 percent.
> 
> Stock indexes overseas also tumbled in October. The Hang Seng, Kospi, CAC 40 and Mexico's Bolsa all did worse than the S&P 500. U.S. stocks had done far better than all of those indexes this year.
> 
> "The U.S. was showing extraordinary outperformance to the rest of the world, and it wasn't necessarily justifiable," said Severinovsky, of Schroeders.
> 
> The last winning streak for the S&P 500 was a three-day string of gains that ended on Sept. 20, the day of its latest record high. That was 28 trading days ago. According to Ryan Detrick of LPL Financial, that's one of the longest gaps since the Great Depression: the S&P 500 also went 28 days without a winning streak in 1970, 1994 and 2015.
> 
> Benchmark U.S. crude fell 1.3 percent to $65.31 per barrel in New York. Brent crude, used to price international oils, shed 0.6 percent to $75.47 per barrel in London.
> 
> Energy companies have lagged the market as U.S. crude has fallen 10 percent this month.
> 
> Wholesale gasoline lost 2.1 percent to $1.77 a gallon. Heating oil edged up 0.1 percent to $2.26 a gallon. Natural gas rose 2.3 percent to $3.26 per 1,000 cubic feet.
> 
> Gold lost 0.8 percent to $1,215 an ounce. Silver fell 1.2 percent to $14.28 an ounce. Copper slipped 0.2 percent to $2.66 a pound.




*A SEA OF GREEN FOR A CHANGE*

About time...

Skate.


----------



## bigdog

*explanation of my table using Australian ALL ORDINARIES index*









we are currently -555.40 below the 52 Wk High
we are currently +91.90 above the 52-Wk Low

Last Price is 5925.90
Change is +12.60 to previous day
% Chg is +0.21% to previous day
52-Wk High is 6,481.30
52-Wk Low is 5,834.00
52-Wk High Chg is -555.40 = (5,925.90 less 6,481.30)
52-Wk Low Chg is +91.90 = (5925.90 less 5,834.00)







https://www.usnews.com/news/busines...-shares-mixed-on-doubts-over-chinese-stimulus

*Stocks Rise as Market Rebound Stretches to a 3rd Day*
Stocks end higher following strong results from financial, health care and basic materials companies. Gains for technology and industrial companies also helped the market extend its rally to a third day.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks climbed Thursday as major indexes extended a rebound into a third day. The dollar dropped, a change that provided a relief to big exporters like industrial and technology companies.

The U.S. stock market continued its gradual rebound from a plunge that lasted almost the entire month of October, and many of the biggest gains Thursday came from stocks that struggled badly last month like chipmakers and other technology companies and smaller, domestically-focused companies.

Strong earnings from U.S. companies have helped the market recover its footing over the last three days. Chemicals maker DowDuPont jumped after reporting a strong quarter, as did Arm & Hammer maker Church & Dwight and insurer AIG. Apple also climbed prior to releasing its quarterly report.

The S&P 500 index added 28.63 points, or 1.1 percent, to 2,740.37. The Dow Jones Industrial Average picked up 264.98 points, or 1.1 percent, to 25,380.74. The Nasdaq composite climbed 128.16 points, or 1.8 percent, to 7,434.06. The Russell 2000 index jumped 33.57 points, or 2.2 percent, to 1,544.98.

Stocks fell sharply from early October through the last few days of the month, a skid that briefly wiped out their gains for the year. After a rally over the last two days, the S&P 500 is up 2.5 percent in 2018.

During the sell-off, high-growth companies like technology and industrial companies and smaller stocks were hit especially hard as investors worried about various factors that could slow their growth and their profits. Those included the U.S.-China trade fight, rising interest rates that could make it more expensive to borrow money, and higher costs for fuel and other necessities.

Chemicals maker DowDuPont surged 8.1 percent to $58.27 after its third-quarter profit surpassed analysts' estimates. The company said sales grew in all regions, with strong gains in Asia-Pacific and Latin America. DowDuPont also said it expects to save more money from a cost-cutting program and plans to buy back another $3 billion in stock.

Fertilizer and chemicals maker CF Industries jumped 6.3 percent to $51.05 after it said it expects better nitrogen fertilizer prices over the next few years.

Cigna, one of the largest U.S. health insurance companies, rose 21.2 percent to $216.28 after raising its forecasts following a better-than-expected quarter.

Exporters rose as the dollar slumped. The ICE US Dollar Index slid 0.9 percent after reaching a 16-month high on Wednesday. A weaker dollar helps companies that do a lot of business outside the U.S., as it makes their products more affordable in foreign markets and also increases their profits when they are translated back into dollars.

Boeing rose 2.3 percent to $363.07 while farm equipment maker Deere added 3.8 percent to $140.65. Among chipmakers, Nvidia gained 3.5 percent to $218.11 and Broadcom jumped 2.9 percent to $229.88. Advanced Micro devices leaped 11 percent to $20.22.

The S&P 500 fell 6.9 percent last month, and technology and industrial companies and retailers fared even worse. One exception was Apple, which slipped just 3 percent in October. The world's largest tech company is scheduled to report its results after the close of trading, and climbed 1.5 percent to $222.22.

The decline in the dollar also sent metals prices sharply higher. Gold jumped 1.9 percent to $1,238.60 an ounce. Silver soared 3.5 percent to $14.78 an ounce. Copper gained 2.4 percent to $2.72 a pound.

The pound rose sharply following reports that Britain and the European Union had reached a deal to give U.K. financial services companies access to the bloc after Brexit. The article by The Times cited anonymous sources, and other reports suggested a deal had not yet been finalized. The British pound rose to $1.3018 from $1.2771.

Canadian energy company Encana said it will buy oil and gas company Newfield Exploration for $5.5 billion in stock. Newfield climbed 16.1 percent to $23.46, while Encana dropped 12.6 percent on the Toronto Stock Exchange.

Germany's DAX rose 0.2 percent and the British FTSE 100 dipped 0.2 percent. After a big rally Wednesday, the CAC 40 in France fell 0.2 percent.

Hong Kong's Hang Seng gained 1.7 percent while Tokyo's Nikkei 225 index tumbled 1.1 percent. The Kospi in South Korea finished 0.3 percent lower.

Oil prices continued to weaken after the Department of Energy said U.S. crude stockpiles increased for the sixth straight week. Benchmark U.S. crude slumped 2.5 percent to $63.69 a barrel in New York. Brent crude, used to price international oils, shed 2.9 percent to $72.89 a barrel in London.

Wholesale gasoline fell 2 percent to $1.72 a gallon and heating oil skidded 2.2 percent to $2.20 a gallon. Natural gas fell 0.7 percent to $3.24 per 1,000 cubic feet.

Bond prices turned higher. The yield on the 10-year Treasury note fell to 3.14 percent from 3.15 percent.

The dollar fell to 112.69 yen from 113.06 yen. The euro rose to $1.1409 from $1.1314.


----------



## bigdog

https://www.usnews.com/news/busines...ap-big-gains-following-rebound-on-wall-street

*Stocks End a Strong Week With Losses as Apple Shares Skid*
US stocks slide as a sharp loss for Apple takes technology companies lower.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks slipped Friday as Apple absorbed its worst loss in more than four years. Thanks to gains over the previous three days, the S&P 500 index finished with its biggest weekly increase since March.

Apple, the world's largest technology company, forecast weak revenue in the current quarter and startled investors by saying it will stop disclosing quarterly iPhone sales. That pulled technology stocks lower. Other high-growth stocks held up well after the U.S. and China said they had made some progress in trade talks, and Asian indexes surged on reports that China's government plans to cut taxes.

The Department of Labor said employers added 250,000 jobs in October, with no sign that hiring was going to slow down. The proportion of Americans with jobs is at its highest level since January 2009, and hourly wages also grew by the most since then. Along with high consumer confidence, those are all good signs for economic growth and consumer spending in the months to come.

Bond yields surged following the strong jobs report as investors bet on continued economic growth, which would push the Federal Reserve to raise interest rates more quickly.

"It clearly was a good report," said David Lefkowitz, senior equity strategist Americas at UBS Global Wealth Management.

Growth in wages, while stronger than anything that's been reported recently, was about what investors were expecting, Lefkowitz said. That's important because investors are still sensitive to signs that inflation could flare up, forcing the Federal Reserve to be more aggressive in raising rates. If inflation grows moderately, as it appeared to in October, that's not as likely.

The S&P 500 index slid 17.31 points, or 0.6 percent, to 2,723.06. The Dow Jones Industrial Average fell 109.91 points, or 0.4 percent, to 25,270.83.

The Nasdaq composite, which has a high concentration of technology companies, lost 77.06 points, or 1 percent, to 7,356.99. The Russell 2000 index of smaller-company stocks rose 3 points, or 0.2 percent, to 1,547.98.

Stocks had surged over the previous three days and finished the week 2.4 percent higher. They skidded in October, suffering their worst monthly loss in seven years. The S&P 500 will have to rise another 7.6 percent to match the all-time high it reached on Sept. 20.

Bond prices dropped, sending yields sharply higher. The yield on the 10-year Treasury note jumped to 3.22 percent, from 3.14 percent. A jump in interest rates last month started the market's downturn, but investors on Friday didn't seem as worried. Interest rates will also be in focus when the Federal Reserve meets next week. It's not expected to raise rates in November.

Apple's sales in its latest quarter and its estimates for the holiday season disappointed investors. Other big smartphone makes don't disclose how many phones they sell each quarter or what the sale price is. The change raised suspicions that Apple might be trying to mask a downturn in the phone's popularity. The company says the quarterly numbers don't necessarily tell investors how strong its business has been.

Apple gets most of its revenue from iPhone sales and lately it's boosted its profits by selling higher-priced models.

Apple sagged 6.6 percent to $207.48. Chipmakers also fell. Qorvo lost 5.7 percent to $74 and Broadcom fell 4 percent to $220.77.

The governments of the U.S. and China both said they were making some progress in trade talks. It's been months since the two sides made any visible progress and fears that the dispute was getting worse contributed to the big losses for global markets in October. Chinese state media also said President Xi Jingping promised tax cuts and other help to China's entrepreneurs.

"In September, before earnings season started ... the market was kind of complacent about tariff issues," said Lefkowitz. "It's something I think the market was ignoring and is now more attuned to."

Germany's DAX rose 0.4 percent and the CAC 40 in France added 0.3 percent. Britain's FTSE 100 fell 0.3 percent.

The Hang Seng index in Hong Kong soared 4.2 percent and Japan's Nikkei 225 index surged 2.6 percent while South Korea's Kospi climbed 3.5 percent.

Starbucks' sales were better than expected, and customers spent more after it raised prices for brewed coffee. It said revenue from cold drinks improved as well, and revenue also improved in China. The stock jumped 9.7 percent to $64.42, its biggest gain since 2011.

Kraft Heinz sank 9.7 percent to $50.73 after its profit in the third quarter fell way short of analyst forecasts. The maker of Oscar Mayer meats, Jell-O pudding and Velveeta cheese said costs grew and it's continuing to make major investments in its business. Prices in the U.S. fell as stores ramped up discounts, especially for cheeses and drinks. That led to its worst loss in three years.

The dollar rose to 113.28 yen from 112.69 yen. The euro slipped to $1.1398 from $1.1409.

Oil prices continued to slip. Benchmark U.S. crude fell 0.9 percent to $63.14 a barrel in New York and Brent crude shed 0.1 percent to $72.83 a barrel in London.

Wholesale gasoline lost 0.5 percent to $1.71 a gallon and heating oil fell 1.3 percent to $2.17 a gallon. Natural gas rose 1.5 percent to $3.28 per 1,000 cubic feet.

Gold fell 0.4 percent to $1,233.30 an ounce. Silver dipped 0.1 percent to $14.75 an ounce. Copper climbed 3.1 percent to $2.81 a pound.

5932


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## bigdog

https://finance.yahoo.com/news/us-s...mbs-apple-sinks-again-151200093--finance.html

*US stocks rise as banks and health care companies climb*




MARLEY JAY
Associated Press November 6, 2018

NEW YORK (AP) — U.S. stocks mostly rose Monday as financial and health care companies finished higher, while Apple and other technology companies continued to fall. Asian indexes fell following weak economic data in China and a lack of progress in trade negotiations between the U.S. and China.

Warren Buffett's Berkshire Hathaway, which owns Geico and other insurance businesses, led the rally in financial stocks after it reported strong results over the weekend. Drugmakers including Eli Lilly also climbed. Apple took another sharp loss, which knocked the tech giant's market value below the $1 trillion mark.

Real estate companies, utilities, and other high-dividend stocks finished with solid gains as high-growth stocks like tech and internet companies slipped. Smaller and more U.S.-focused companies also lagged.

Big technology companies and small companies were both hit hard during the market's slump in October. Tech companies fell as investors worried about the trade dispute and about an increase in interest rates, which could erode their future profits. Smaller companies are vulnerable to higher interest rates because they tend to carry more debt.

Earnings for S&P 500 companies are on track to grow about 20 percent this year, and analysts expect company profits to grow another 10 percent next year, according to FactSet. But Jim Paulsen, chief investment strategist for the Leuthold Group, said that might be too optimistic because costs and interest rates are rising and global economic growth could slip.

"It's a double whammy of slowing sales at the same time we may be starting to (see pressure on) profit margins," he said. Paulsen said corporate earnings could fall next year, and smaller companies might have a hard time dealing with that.

"Large companies tend to operate with bigger profit margins, and they have more room as a result of that to allow them to cut and to deal with a slowdown," he said.

The S&P 500 index added 15.25 points, or 0.6 percent, to 2,738.31. The Dow Jones Industrial Average rose 190.87 points, or 0.8 percent, to 25,461.70.

The Nasdaq composite sank 28.14 points, or 0.4 percent, to 7,328.85. The Russell 2000 index of smaller-company stocks slipped 0.47 point to 1,547.51.

Stocks plunged in October, but last week was the market's best week since March. One reason for that recovery was increased optimism about trade talks, as Chinese officials and President Donald Trump said a phone conversation between Trump and China's President Xi Jinping had gone well. On Monday Xi promised to reduce costs for importers and raise consumer spending power, but he did not address the technology policy dispute between the U.S. and China, a critical part of the trade impasse.

Berkshire Hathaway said its profit quadrupled in the third quarter as the value of its investments climbed. It also reported better results from its insurance and railroad divisions. Berkshire bought back almost $1 billion in stock during the quarter, the most in years. Its Class B stock climbed 4.7 percent to $216.24. Other insurers and banks also rose.

Apple lost another 2.8 percent to $201.59. The stock tumbled Friday following a weak fourth-quarter forecast. Apple also said it will stop announcing how many iPhones it sold each quarter. Daniel Ives of Wedbush said that while Apple's announcement felt "flippant," it's actually part of a strategy intended to get investors to see the company as a services provider and not just a device seller.

In early August Apple became the first publicly traded company valued at $1 trillion, but Monday's decline brought its value down to $958.6 billion.

After big gains late last week, Japan's Nikkei 225 index fell 1.5 percent and South Korea's Kospi dropped 0.9 percent. Hong Kong's Hang Seng index fell 2.1 percent.

Benchmark U.S. crude slipped 0.1 percent to $63.10 a barrel in New York. Brent crude, used to price international oils, added 0.5 percent to $73.17 per barrel in London.

Natural gas soared 8.6 percent to $3.57 per 1,000 cubic feet following forecasts for cold weather in the next few days. According to the Energy Department, nearly half of all U.S. households use natural gas as the primary source for heating. Its price often surges when investors expect a cold snap. Heating oil also rose 1.1 percent to $2.20 a gallon.

Wholesale gasoline lost 1 percent to $1.69 a gallon.

Britain's FTSE 100 rose 0.1 percent while Germany's DAZ fell 0.2 percent. The CAC 40 in France was little changed.

The British pound rose even though the office of British Prime Minister Theresa May dismissed reports the country is close to reaching a divorce agreement with the European Union. Officials have said negotiators are on the brink of a deal, which could be reached this month.

The pound rose to $1.3053 from $1.2963.

Bond prices rose. The yield on the 10-year Treasury note fell to 3.20 percent from 3.21 percent late Friday.

Gold fell 0.1 percent to $1,232.30 an ounce. Silver lost 0.7 percent to $14.65 an ounce. Copper shed 1.8 percent to $2.76 a pound.

The dollar slipped to 113.21 yen from 113.28 yen. The euro rose to $1.1418 from $1.1398.


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## bigdog

https://www.usnews.com/news/busines...hares-mostly-higher-ahead-of-us-midterms-vote

*Industrials, Tech Lead US Stocks Higher Ahead of Elections*
Major U.S. indexes finish broadly higher as technology, industrial and basic materials stocks recover some of the steep losses they took in October.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks rose Tuesday as industrial and technology companies recovered some of the big losses they took over the last month. Strong company earnings also contributed to the gains, but stocks stayed calm as traders waited for results from the midterm elections in the U.S.

Industrial and basic materials companies made some of the biggest gains following reports from fertilizer maker Mosaic and granite, limestone, sand and gravel seller Martin Marietta Materials. Bond prices dipped, sending yields higher. Oil prices continued to fall, extending four weeks of losses. British stocks fell as negotiators from the U.K. and European Union as remained deadlocked over the issue of Ireland's borders.

The midterm elections will determine control of the House of Representatives and Senate, and 36 governorships are being contested along with other state and local positions. The vote could affect U.S. trade, economic and security policies.

Alicia Levine, chief market strategist at BNY Mellon Investment Management, said some of the most dramatic reactions to the elections might be seen in the health care sector, as Republicans could make another attempt to eliminate the 2010 Affordable Care Act if they keep control of the House and Senate.

"If the Democrats take the House, the Affordable Care Act is not under threat of being repealed," she said, which could help health insurers and hospitals. "If we see the Democrats take the governors houses, you could also see the expansion of Medicaid."

A Democratic House majority might work with the administration to try to reduce drug prices, and would take a more lenient approach on food stamp benefits. That could help big box stores and grocery chains, which get a lot of revenue from those programs.

If Republicans keep control of the House, Levine said, they might index capital gains taxes to inflation, which would effectively cut those taxes. While that could boost the economy, it would also encourage the Federal Reserve to keep raising interest rates at a faster pace, and investors are already concerned that rates could rise too fast.

The S&P 500 index rose 17.14 points, or 0.6 percent, to 2,755.45. The Dow Jones Industrial Average gained 173.31 points, or 0.7 percent, to 25,635.01. The Nasdaq composite picked up 47.11 points, or 0.6 percent, to 7,375.96. The Russell 2000 index of smaller-company stocks added 8.59 points, or 0.6 percent, to 1,556.10.

Stocks dropped in October and recovered a sliver of their gains during a three-day rally last week. They made smaller moves over the final few days before the polls closed. Stocks tend to fall before midterm elections and then rally once the voting is over. The S&P 500 has generated an average price return of 16.7 percent in the 12 months after midterm elections since 1946, according to CFRA.

Drugstore and pharmacy benefits manager CVS Health rose 5.7 percent to $77.90 after its results topped Wall Street forecasts in the third quarter. It was helped by a large bump in prescriptions. CVS also said it expects to complete its purchase of health insurer Aetna before the Thanksgiving holiday.

Symantec rallied after the security software maker said it bought two smaller companies. It didn't disclose terms. Shares of Symantec rose further after Reuters reported that private equity firm Thoma Bravo is interested in buying the company. The stock jumped 12.6 percent to $22.54.

Among materials companies, Mosaic rose 10.6 percent to $35.64 after it raised its annual profit forecast, and Martin Marietta climbed 8.4 percent to $189.55. Construction materials company Vulcan gained 3.5 percent to $104.12.

Industrial companies also rose. Caterpillar climbed 2.3 percent to $129.33 and Boeing added 1.2 percent to $366.47.

Oil prices continued to slip after the U.S. said it would allow a group of allies to continue buying oil from Iran as long as they continued to try to reduce their imports from that nation. The U.S. reinstated sanctions on Iran this month after withdrawing from an international agreement intended to curb Iran's nuclear program, and analysts feared that oil prices would jump as supplies tightened.

Benchmark U.S. crude oil fell 1.4 percent to $62.21 a barrel in New York. In early October it traded above $76 a barrel. Brent crude dipped 1.4 percent to $72.13 a barrel in London.

Bond prices fell. The yield on the 10-year Treasury note rose to 3.22 percent from 3.19 percent.

Britain's FTSE 100 shed 0.9 percent as Britain and the EU tried to resolve their differences over the Irish border. The two sides are trying to find a way to make sure there are no customs posts or other checks on the border between EU member Ireland and Northern Ireland, which will leave the group along with the rest of the U.K.

In France, the CAC 40 fell 0.5 percent. Germany's DAX dipped 0.1 percent.

In other commodities trading, wholesale gasoline was little changed at $1.69 a gallon and heating oil was also little changed at $2.19 a gallon. Natural gas remained at $3.56 per 1,000 cubic feet.

Gold shed 0.5 percent to $1,226.30 an ounce. Silver lost 1 percent to $14.50 an ounce. Copper fell 0.9 percent to $2.73 a pound.

The dollar rose to 113.40 yen from 113.21 yen. The euro slipped to $1.1413 from $1.1418.

Japan's Nikkei 225 index rose 1.1 percent and the Kospi in South Korea added 0.6 percent. Hong Kong's Hang Seng bounced gained 0.7 percent.


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## bigdog

https://www.usnews.com/news/busines...se-as-us-midterm-elections-yield-mixed-result

*Tech and Health Care Lead US Stock Surge After Midterms*
Stocks rallied Wednesday as investors were relieved to see that the U.S. midterm elections went largely as they expected they would.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks rallied Wednesday as investors were relieved to see that the U.S. midterm elections went largely as they expected they would. Big-name technology and consumer and health care companies soared as the S&P 500 index closed at its highest in four weeks.

Democrats won control of the House of Representatives while Republicans kept a majority in the Senate, as most polls had suggested. It's not clear how the divided Congress will work with Republican President Donald Trump, but if the possibilities for compromise and big agenda items seem limited, Wall Street is fine with that because it means politics is that much less likely to crowd out the performance of the strong U.S. economy.

"The market likes when what it expects to happen happens," said JJ Kinahan, chief markets strategist for TD Ameritrade. "We haven't had that happen in a little while, when you think about major events like Brexit or the presidential election."

The S&P 500 index climbed 58.44 points, or 2.1 percent, to 2,813.89. The index has risen six out of the last seven days to recover most of the losses it suffered in October.

The Dow Jones Industrial Average rose 545.29 points, or 2.1 percent, o 26,180.30. The Nasdaq composite climbed 194.79 points, or 2.6 percent, to 7,570.75. The Russell 2000 index of smaller-company stocks added 26.06 points, or 1.7 percent, to 1,582.16. Three-fourths of the stocks on the New York Stock Exchange traded higher.

Historically markets have performed well after midterm elections and with split control of Congress.

High-growth stocks took an especially brutal beating during the market's drop last month. Quincy Krosby, chief market strategist at Prudential Financial, said it will be worth watching to see if investors are willing to buy those stocks again or if they continue to prefer slower-growing, more "defensive" companies like utilities and household goods makers.

On Wednesday investors bet on growth. Amazon jumped 6.9 percent to $1,755.49 and Microsoft gained 3.9 percent to $111.96, while Google's parent company, Alphabet, picked up 3.6 percent to $1,108.24.

Steady, "defensive" stocks lagged the rest of the stock market. Those companies, which include utilities and household goods makers, tend to do well when stocks are in turmoil, but they're less appealing when investors are betting on economic growth.

Industrial companies made strong gains, but they didn't do as well as the rest of the market. While some investors hope that Trump and Congressional leadership will pass an infrastructure stimulus bill, they've had those hopes dashed more than once since he took office.

It's not clear how the elections will affect the Trump policy Wall Street might be most concerned about: the trade dispute with China. Trump has imposed taxes of up to 25 percent on $250 billion of Chinese imports and threatened additional tariffs on top of those. Beijing has responded with tariffs on $110 billion of American goods.

A primary concern in Asia is the potential for trade tensions to hobble growth for export-reliant economies.

Economists at S&P Global, Oxford Economics and the Bank of America all agreed that government gridlock will likely result from the Democrats winning control of the House. But they don't think a stalemate will automatically hinder economic growth.

It's more likely that government will play less of a role in spurring economic growth in 2019 and 2020. As a result, the health of the global economy, interest rates set by the Federal Reserve, and spending by U.S. consumers and companies will have a bigger impact on determining the pace of growth.

The Federal Reserve is also meeting Wednesday and Thursday. It's not expected to raise interest rates this month, but investors believe it will do so in December.

Banks also didn't rise as much other stocks. Republicans had discussed a new round of tax cuts if they maintained full control over Congress, which would have expanded the government's deficits further and required it to issue more debt. Government bond yields spiked overnight after a batch of strong early results for some GOP candidates, but then headed lower as Democrats' fortunes improved, making a new tax cut package unlikely.

Democrats' victory in the House also means that Rep. Maxine Waters will likely become chairwoman of the House Financial Services Committee, which oversees the nation's banking system and its regulators. Waters has called for more regulation of banks, and has been vocal about Trump political appointees moving to roll back regulations on banks and other financial services companies.

The yield on the 10-year Treasury note rose slightly, to 3.22 percent. It spiked as high as 3.25 percent Tuesday night.

The U.S. dollar also weakened. The ICE US dollar index fell 0.2 percent. The U.S. currency fell to 113.34 yen from 113.40 yen, and the euro climbed to $1.1455 from $1.1413.

Major indexes in Europe climbed. The French CAC 40 jumped 1.2 percent, while Britain's FTSE 100 gained 1.1 percent. The DAX in Germany rose 0.8 percent.

The U.S. markets swooned in October, knocking the S&P 500 down nearly 7 percent, as investors worried about rising interest rates and the U.S.-China trade dispute. The S&P 500 is up 3.8 percent so far in November.

October is historically a rough month for stocks, though markets usually rise after midterm elections regardless of how the political landscape may change because Wall Street is glad to have more certainty.

Democrats' win in the House means Republicans won't be able to take another shot at repealing the 2010 Affordable Care Act, which extended health insurance coverage to millions of Americans. Voters in Idaho and Nebraska all voted to expand Medicaid, and the winning gubernatorial candidates in Maine and Kansas also favor expanding Medicaid benefits. Voting on a Medicaid expansion proposition in Utah was too close to call.

Health insurers, hospital operators and Medicaid program operators all jumped. UnitedHealth gained 4.2 percent to $274.63 and hospital company HCA added 4.7 percent to $141.65. Molina, a provider of Medicaid-related services, surged 10.5 percent to $137.32.

Marijuana stocks jumped after Michigan voted to legalize recreational marijuana and Utah and Missouri voters approved medical marijuana measures. The stocks rose even further after the resignation of Attorney General Jeff Sessions, who promoted more aggressive enforcement of those laws. Tilray vaulted 30.6 percent to $139.60 and Canopy Growth rose 8.2 percent to $46.07.

Oil prices continued to fall. U.S. crude lost 0.9 percent to $61.67, and Brent crude, the standard for international oil prices, dipped 0.1 percent to $72.07 a barrel in London.

Wholesale gasoline lost 2.8 percent to $1.65 a gallon and heating oil rose 2.2 percent to $2.24 a gallon. Natural gas was unchanged at $3.56 per 1,000 cubic feet.

Gold rose 0.2 percent to $1,228.70 an ounce. Silver picked up 0.5 percent to $14.57 an ounce. Copper added 0.8 percent to $2.75 a pound.

In Asia, Japan's benchmark Nikkei 225 fell 0.3 percent while South Korea's Kospi slipped 0.5 percent. But Hong Kong's Hang Seng edged 0.1 percent higher.


----------



## Skate

Now that the U.S. midterm elections are over - stability might return to the markets - here's hoping..

Skate.


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## bigdog

https://www.usnews.com/news/busines...rally-on-us-midterms-soothing-fears-of-shifts

*Oil Prices Sink Again as Post-Election Stock Surge Fades*
US stocks fall as the market's big rally from a day earlier fades, while oil prices fall for the ninth day in a row.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks in the U.S. slipped Thursday as the ninth consecutive drop in crude oil prices hurt energy companies. U.S. markets were coming off huge gains the day before.

U.S. crude oil has now slumped more than 20 percent since early October, meeting Wall Street's definition of a "bear market."

Government fuel stockpiles have steadily expanded, pushing supplies higher, and the U.S. issued waivers to a number of countries that buy oil from Iran. That allows those countries to keep importing Iranian oil in spite of renewed sanctions on that country.

Most other groups of stocks finished little changed. Banks made the largest gains. The Federal Reserve left interest rates where they are, but suggested it plans to keep raising rates in response to the strong U.S. economy.

After its steep plunge in October, the S&P had risen for six of the seven days ending on Wednesday. Stocks started sinking last month because investors worried that the Fed was going to raise interest rates to the point they slowed down economic growth. But John Lynch, chief investment strategist at LPL Research, said he doesn't think that's going to happen and that the Fed will stop raising rates in 2019.

"We do not believe they will be as aggressive as many fear," he said. "We still don't have anything approaching the wage pressures that have historically scared the Fed."

The S&P 500 index shed 7.06 points, or 0.3 percent, to 2,806.83 after it jumped 2.1 percent Wednesday. The Dow Jones Industrial Average inched up 10.92 points to 26,191.22.

The Nasdaq composite dipped 39.87 points, or 0.5 percent, to 7,530.88 after a 2.6 percent surge a day earlier. The Russell 200 index of smaller-company stocks fell 3.95 points, or 0.2 percent, to 1,578.21.

Benchmark U.S. crude oil fell 1.6 percent to $60.67 a barrel in New York. On Oct. 3 it closed at $76.41, the highest level in almost four years.

Brent crude lost 2 percent to $70.65 a barrel in London. Brent crude is the standard for international oil prices and it has also fallen sharply over the last five weeks.

Exxon Mobil fell 1.6 percent to $81.71 and ConocoPhillips gave up 4.5 percent to $119.36.

Bond prices edged lower. The yield on the 10-year Treasury note rose to 3.24 percent, near its highest level this year, from 3.23 percent. The Federal Reserve left interest rates where they are, but suggested it plans to keep raising them in response to the strong U.S. economy. The Fed has raised its key rate eight times since late 2015 and is expected to do so again in December, with several more increases to follow.

Bank of America rose 1.2 percent to $28.87 and M&T Bank added 1.2 percent to $167.37.

The Fed has been raising rates to prevent inflation from getting out of hand. Lynch, of LPL, said that inflation isn't going to get much stronger because wages aren't going to grow much faster than they currently are. He said factors like the retirement of more Baby Boomers, global competition, and slower economic growth in the U.S. will all limit increases in pay.

Chipmaker Qualcomm had a strong fourth quarter, but for the current period it's projecting revenue of $4.5 billion to $5.3 billion, far below the $5.6 billion analysts expected, according to FactSet. Its stock lost 8.2 percent to $58.05.

Apple stopped making royalty payments to Qualcomm following a dispute between the companies, and later decided to stop using Qualcomm modems in some of its products. Qualcomm said both of those changes have hurt its results.

D.R. Horton, one of the largest homebuilders, fell 9 percent to $34.22 after its earnings and sales fell short of Wall Street forecasts. The company said rising home prices and mortgage rates are affecting demand. That exact combination has been weighing on home sales and the stocks all year. PulteGroup fell 3.5 percent to $24.23 and Lennar lost 2.5 percent to $41.90.

Wynn Resorts dropped 13.1 percent to $99.02 after the casino operator said its business in Macau has slowed down recently.

Stocks climbed Wednesday after the midterm elections generally went the way investors thought they would. The Democrats took control of the House of Representatives while the Republicans held on to a majority in the Senate. That means that politics appears that much less likely to crowd out the performance of the strong U.S. economy.

In other commodities trading, wholesale gasoline was little changed at $1.64 a gallon. Heating oil dropped 3.1 percent to $2.17 a gallon. Natural gas edged down to $3.54 per 1,000 cubic feet.

Gold fell 0.3 percent to $1,225.10 an ounce. Silver lost 1 percent to $14.42 an ounce. Copper slipped 0.7 percent to $2.74 a pound.

The dollar rose to 113.96 yen from 113.34 yen. The euro fell to $1.1363 from $1.1455.

Germany's DAX lost 0.4 percent and the British FTSE 100 picked up 0.3 percent. The CAC 40 in France was 0.1 percent lower.


----------



## bigdog

https://www.usnews.com/news/busines...ck-markets-sink-after-wall-street-rally-fades

*Stocks Skid as Tech Companies Fall; Oil Plunge Continues*
U.S. stocks fell as a combination of weak economic data from China and disappointing earnings hurt technology and internet companies.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks fell Friday as a combination of weak economic data from China and disappointing earnings hurt technology and internet companies. Crude oil prices fell for the 10th day in a row.

Auto sales in China fell in October for the fourth month in a row and are down 13 percent from a year ago, the latest sign its economy is under pressure. Concerns about China's economy and its trade dispute with the U.S. contributed to the global stock market skid in October. The stocks that fared the worst during that time included tech and internet companies and retailers, which all took sharp losses Friday.

"China has played such a critical role in driving global growth," said Kristina Hooper, chief global market strategist for Invesco. "(Investors) are having concerns that these tariff wars are essentially going to kick China when it's down."

U.S. crude oil slipped 0.8 percent to extend its losing streak. It's fallen for five weeks in a row and tumbled 21 percent since Oct. 3. Energy companies have suffered steep losses during that time.

Weak forecasts from companies including video game company Activision Blizzard and chipmaker Skyworks Solutions also contributed to Friday's decline.

The S&P 500 index dropped 25.82 points, or 0.9 percent, to 2,781.01. The Dow Jones Industrial Average fell 201.92 points, or 0.8 percent, to 25,989.30.

The Nasdaq composite sank 123.98 points, or 1.6 percent, to 7,406.90. The Russell 2000 index of smaller companies gave up 28.72 points, or 1.8 percent, to 1,549.49.

The Labor Department said wholesale prices in the U.S. jumped, and Hooper said that could be linked to the tariff dispute as well. Wholesale prices rose by the most in six years in October as gas, food, and chemical prices increased. The Labor Department's wholesale price index has climbed 2.9 percent over the last year.

Video game maker Activision Blizzard tumbled after its forecast for the critical holiday season fell short of analysts' projections. The stock fell 12.4 percent to $55.01, and Electronic Arts lost 5.3 percent to $88.89.

Major technology and internet companies also turned lower. Apple fell 1.9 percent to $204.47 and Facebook shed 2 percent to $144.96. Amazon lost 2.4 percent to $1,712.43.

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Benchmark U.S. crude fell to $60.19 a barrel in New York, its lowest in almost eight months. Brent crude, used to price international oils, has fared almost as badly as U.S. crude, and it declined 0.7 percent to $70.20 a barrel in London.

West Coast utility companies tumbled as wildfires worsened in South California, with tens of thousands of people forced to flee in Los Angeles and Ventura counties. PG&E plunged 16.5 percent to $39.92 and Edison International skidded 12.1 percent to $61.

General Electric sank another 5.7 percent to $8.58 after a JPMorgan Chase analyst cut his price target on the stock to $6 a share from $10. Stephen Tusa said six of GE's eight divisions might be unprofitable in 2020.

Bond prices rose. The yield on the 10-year Treasury note fell to 3.18 percent from 3.23 percent.

Despite the losses Friday, the S&P 500 still gained 2.1 percent this week. It climbed 2.4 percent last week but would need to rise another 5.4 percent to reach the all-time high it set on Sept. 20.

Walt Disney's net earnings were better than expected, as the entertainment giant raked in revenue from movies including "Avengers: Infinity War," "'Incredibles 2" and "Ant-Man and the Wasp." The stock gained 1.7 percent to $118.

A federal judge blocked a permit from the Trump administration for the construction of TransCanada's Keystone XL pipeline, pending an environmental review. The long-delayed $8 billion project pipeline would begin in Alberta and run through a half dozen states to terminals on the Gulf Coast. U.S. District Judge Brian Morris ruled that the potential impact had not been considered as required by federal law after environmentalists and Native American groups sued to stop the project, citing property rights and potential oil spills.

In Toronto, shares of TransCanada lost 1.7 percent.

Online reviews company Yelp nosedived after it posted weak third-quarter revenue and its forecast for the fourth quarter also fell short of Wall Street's estimates. The company said part of the problem is an advertising model that is intended to encourage advertisers to try the site without signing a long-term contract. Yelp said that has made its results more sensitive to short-term problems. Its stock fell 26.6 percent to $31.93.

In other commodities trading, natural gas prices jumped 5 percent to $3.72 per 1,000 cubic feet. That helped gas companies stem their losses. Heating oil was little changed at $2.17 a gallon and wholesale gasoline fell 1.4 percent to $1.62 a gallon.

Gold fell 0.3 percent to $1,208.60 an ounce. Silver lost 2 percent to $14.14 an ounce. Copper slid 1.9 percent to $2.68 a pound.

The dollar slipped to 113.76 yen from 113.99 yen. The euro fell to $1.1333 from $1.1356.

The French CAC 40 and the FTSE 100 in Britain both fell 0.5 percent. Germany's DAX was little changed.

Tokyo's Nikkei 225 retreated 1 percent and Hong Kong's Hang Seng fell 2.4 percent. Seoul's Kospi gave up 0.3 percent.

6403


----------



## bigdog

https://finance.yahoo.com/m/8b9c8d4...296019f/ss_tech-giants-slide,-pulling-us.html

*Tech giants slide, pulling US stock market sharply lower*




ALEX VEIGA

A broad sell-off in technology companies pulled U.S. stocks sharply lower Monday, knocking more than 600 points off the Dow Jones Industrial Average.

The wave of selling snared big names, including Apple, Amazon and Goldman Sachs. Banks, consumer-focused companies, and media and communications stocks all took heavy losses. Crude oil prices fell, erasing early gains and extending a losing streak to 11 days.

The tech stock tumble came followed an analyst report that suggested Apple significantly cut back orders from one of its suppliers. That, in turn, weighed on chipmakers.

"With the news out of the Apple supplier this morning, you have the market overall questioning the growth trajectory as we look out to 2019," said Lindsey Bell, investment strategist at CFRA. "We continue to like tech going into next year, but we think it could be a little bit of a rocky period for the group as we continue through the last two months of the year."

The market's slide came after a two-week winning streak.

The S&P 500 index dropped 54.79 points, or 2 percent, to 2,726.22. The Dow fell 602.12 points, or 2.3 percent, to 25,387.18. It was down briefly by 648 points.

The Nasdaq composite slid 206.03 points, or 2.8 percent, to 7,200.87. The Russell 2000 index of smaller companies gave up 30.70 points, or 2 percent, to 1,518.79.

Bond trading was closed for Veterans Day. Stocks in Europe also suffered losses.

Apple tumbled 5 percent to $194.17 after Wells Fargo analysts said the iPhone maker is the unnamed customer that optical communications company Lumentum Holdings said was significantly reducing orders. Shares in Lumentum plunged 33 percent to $37.50.

Several chipmakers also fell. Advanced Micro Devices gave up 9.5 percent to $19.03, while Nvidia lost 7.8 percent to $189.54. Micron Technology gave up 4.3 percent to $37.44.

Amazon slid 4.4 percent to $1,636.85.

Banks and other financial companies also took heavy losses Tuesday. Goldman Sachs slid 7.5 percent to $206.05.

"Expectations are really that the deregulation process that has benefited banks up to this point is going to be slowed down with the Democrats in charge," Bell said.

Stocks appeared to have regained their footing after a skid in October snapped a six-month string of gains for the S&P 500. Stocks rallied last week after the U.S. midterm elections turned out largely as investors expected, with a divided Congress promising legislative gridlock in Washington the next couple of years.

While the market has typically thrived in periods of divided government, investors continue to grapple with uncertainty over the U.S.-China trade dispute and the potential impact of increased oversight of Corporate America by Democrats, who will be taking over leadership in the House of Representatives in January.

In addition, some companies have recently reported third-quarter earnings and outlooks that have stoked investors' worries about the future growth of corporate profits.

While companies got a boost this year from the lower tax rates put in place by President Donald Trump and the GOP last December, several companies have recently warned about the impact of higher costs related to tariffs and rising interest rates.

"The bull market is not over, the economic expansion is not over, but things are starting to wind down," said Randy Frederick, vice president of trading & derivatives at Charles Schwab. "We're clearly getting into the late innings of the ball game."

British American Tobacco, which makes Newport cigarettes, plunged 8.8 percent to $38.08 on reports that regulators were considering a ban on menthol cigarettes.

PG&E tumbled 17.4 percent to $32.98 after the electric utility told regulators that a high-voltage line experienced a problem near the origin of one of the major California wildfires before the blaze started.

Investors bid up shares in Athenahealth after the struggling medical billing software maker said it received a $5.7 billion cash buyout offer. The stock jumped 9.7 percent to $131.97.

About 90 percent of S&P 500 companies have reported third-quarter results so far, with some 51 percent of those posting earnings and revenue that topped Wall Street's forecasts, according to S&P Global Market Intelligence. Several big retailers are due to deliver results this week, including Walmart, Home Depot, Williams-Sonoma, Nordstrom and J.C. Penney.

"That could actually probably boost the market," Bell said. "Retailers are going to have a better third quarter than most people expect. A lot of them ordered goods ahead of the tariffs going into place, so they're not going to have to pass on higher prices on to the consumer this holiday season."

Benchmark U.S. crude gave up an early gain, sliding 0.4 percent to settle at $59.93 per barrel in New York. Brent crude, used to price international oils, dipped 0.1 percent to close at $70.12 per barrel in London. Oil futures rose earlier on news that Saudi Arabia and other major producers planned to reduce output.

The dollar strengthened to 113.86 yen from 113.80 yen on Friday. The euro fell to $1.1240 from $1.1336. The British pound weakened to $1.2853 from $1.2975 amid concerns that Britain's government is struggling to find unity on a Brexit deal.

Gold fell 0.4 percent to $1,203.50 an ounce. Silver lost 0.9 percent to $14.01 an ounce. Copper slid 0.3 percent to $2.68 a pound.

In other energy trading, heating oil fell 0.8 percent to $2.16 a gallon and wholesale gasoline gained 0.9 percent to $1.64 a gallon. Natural gas rose 1.9 percent to $3.79 per 1,000 cubic feet.

Major stock indexes in Europe also ended lower Monday. Germany's DAX lost 1.8 percent and France's CAC 40 fell 0.9 percent. Britain's FTSE 100 shed 0.7 percent.

In Asia, markets finished mixed. Japan's Nikkei 225 added 0.1 percent, while Hong Kong's Hang Seng rose 0.1 percent. Australia's S&P-ASX 200 gained 0.3 percent. The Kospi in South Korea dipped 0.3 percent.


----------



## bigdog

*The ALL ORDS currently 5922.6 is only 88.6 points above the 12 month low of 5834.0

The steepest drop in oil prices in more than three years put investors in a selling mood Tuesday, extending a losing streak for the S&P 500 index to a fourth day.
*






https://www.usnews.com/news/busines...n-stocks-sink-after-wall-street-tech-sell-off

*Energy Companies Lead US Stocks Lower After Oil Price Plunge*
The steepest drop in oil prices in more than three years put investors in a selling mood Tuesday, extending a losing streak for the S&P 500 index to a fourth day.

By ALEX VEIGA, AP Business Writer

The steepest drop in oil prices in more than three years put investors in a selling mood Tuesday, extending a losing streak for the S&P 500 index to a fourth day.

Energy stocks led a late-afternoon sell-off on Wall Street after the price of U.S. crude oil plunged 7.1 percent to $55.69 a barrel, the lowest level since December 2017.

Oil has now fallen for 12 straight days, driven by worries over rising oil production around the world and weakening demand from developing countries.

"You have fears associated with the drop in the price of oil probably moving into the equity market," said Willie Delwiche, investment strategist at Baird. "There's a knee-jerk reaction when you see oil down that it signals economic weakness."

The S&P 500 index fell 4 points, or 0.1 percent, to 2,722.18. The Dow Jones Industrial Average lost 100.69 points, or 0.4 percent, to 25,286.49, half of which was attributable to a drop in Boeing.

The Nasdaq composite was little changed at 7,200.87. The Russell 2000 index of smaller companies gave up 3.99 points, or 0.3 percent, to 1,514.80.

Oil prices have been declining as the market adjusts to a drop in demand from emerging markets coupled with expectations for increased supply from the U.S. and OPEC.

"It's very possible for oil to continue to shoot in either direction until you get that equilibrium," said Tom Hainlin, global investment strategist at U.S. Bank Wealth Management.

President Donald Trump has been pressing Saudi Arabia and OPEC not to cut production. Saudi Arabia said this week that the oil cartel and allied crude producers will likely need to cut supplies, perhaps by as much as 1 million barrels a day.

OPEC estimated that production increases from Saudi Arabia, United Arab Emirates and Russia, have made up for more than twice the loss of production out of Iran, according to Ritterbusch and Associates, an oil trading advisory firm.

The firm expects that U.S. crude oil will continue to decline to about $55.25 a barrel.

Tuesday's slide in oil prices weighed on energy sector stocks. Halliburton dropped 5.5 percent to $32.27.

Stocks appeared headed for a rebound early Tuesday after a steep market sell-off a day earlier. Traders drew encouragement from a published report out of China saying that country's top economic adviser might visit Washington ahead of a planned meeting between Chinese President Xi Jinping and Trump at this month's Group of 20 gathering in Argentina.

The U.S. and China have raised tariffs on billions of dollars of each other's goods in a dispute over U.S. complaints about Beijing's technology policy. The long-festering trade dispute and the added costs it has begun to cause companies have stoked investors' worries about the future growth of corporate profits.

"There is some good optimism that there is progress on trade at the G-20 meeting later this month," said Craig Birk, chief investment officer at Personal Capital.

That optimism didn't hold in the face of the steep tumble in oil prices, however.

"We had overnight strength and strength this morning that then invited more selling," Delwiche said. "And it's all in the context with what's going on with oil, which is making people perhaps more jittery than they would have been otherwise."

Losses in health care companies and consumer goods stocks outweighed gains in banks and industrials Tuesday.

Boeing fell 2.1 percent to $349.51 following a Wall Street Journal report saying the aircraft manufacturer withheld information about potential hazards associated with an automated stall-prevention system on its 737 Max 8 aircraft like the Lion Air jet that crashed in Indonesia last month.

Tyson Foods dropped 5.6 percent to $58.17 after the meat producer's quarterly earnings beat analysts' estimates, but revenue fell short. The company also issued a weak outlook, noting that it faced higher labor and freight costs.

Financial sector stocks moved higher a day after posting big losses. Unum Group added 2.7 percent to $38.01.

Advance Auto Parts vaulted 10.6 percent to $184.72 after the retailer reported strong quarterly results and raised its forecast.

General Electric jumped 7.8 percent to $8.61 after disclosing that it will sell up to a 20 percent stake in Baker Hughes. GE, which has been struggling with sagging profits, aims to raise about $4 billion in cash from the sale.

D.R. Horton rose 2.4 percent to $34.69 after the homebuilder agreed to buy Westport Homes, which builds homes in Indiana and Ohio.

Bond prices rose. The yield on the 10-year Treasury note fell to 3.14 percent from 3.19 percent late Friday. Bond trading was closed Monday for Veterans Day.

The dollar held steady versus the yen at 113.86 yen. The euro strengthened to $1.1268 from $1.1240.

The price of gold slipped 0.2 percent to $1,201.40 an ounce. Silver also lost 0.2 percent to $13.98 an ounce. Copper rose 0.4 percent to $2.69 a pound.

In other energy trading, Brent crude, used to price international oils, dropped 6.6 percent to close at $65.47 a barrel in London. Heating oil fell 4.3 percent to $2.06 a gallon and wholesale gasoline dropped 5.7 percent to $1.54 a gallon. Natural gas jumped 8.3 percent to $4.10 per 1,000 cubic feet.

European markets closed higher Tuesday. Germany's DAX gained 1.3 percent, while France's CAC 40 added 0.9 percent. London's FTSE 100 was flat.

In Asia, Tokyo's Nikkei 225 fell 2 percent. Sydney's S&P-ASX 200 declined 1.8 percent. Hong Kong's Hang Seng gained 0.5 percent. Seoul's Kospi gave up 0.4 percent and India's Sensex added 0.4 percent.


----------



## bigdog

https://www.usnews.com/news/busines...wer-after-wall-street-falls-over-oil-concerns

*Banks, Insurers Pull Stocks Lower; Oil Snaps 12-Day Skid*
A turbulent day of trading on Wall Street ended Wednesday with a fifth consecutive loss for the benchmark S&P 500 index.

By ALEX VEIGA, AP Business Writer

A turbulent day of trading on Wall Street ended Wednesday with a fifth consecutive loss for the benchmark S&P 500 index.

An early rally drove major indexes sharply higher but was gone by midday, leaving the market headed lower for the rest of the day. The Dow Jones Industrial Average swung from a high of 214 points to a low of 350 before the sell-off eased somewhat by late-afternoon.

Technology companies, banks and insurers fared the worst, their losses outweighing gains in other sectors.

Bond prices rose as traders shifted money into low-risk assets. That pulled yields down, which hurts banks by driving interest rates on loans lower. Energy stocks rebounded as crude oil prices snapped a 12-day losing streak. Precious metals also rose.

"We're still ... contending with the implications of the sell-off from October," said David Lefkowitz, senior equity strategist at UBS Global Wealth Management. "The market is still somewhat unsettled and somewhat volatile as investors digest that move and reposition for what they think will happen next."

The S&P 500 index fell 20.60 points, or 0.8 percent, to 2,701.58. The Dow Jones Industrial Average lost 205.99 points, or 0.8 percent, to 25,080.50. The Nasdaq composite dropped 64.48 points, or 0.9 percent, to 7,136.39. The Russell 2000 index of smaller companies gave up 12.30 points, or 0.8 percent, to 1,502.51.

The latest losses placed the indexes on track to finish the month with a loss.

For the second straight day, stocks looked as if they were headed for a rebound early Wednesday. But the wave of buying didn't hold.

Bond prices, which had been declining, also began climbing as traders favored safe-haven assets. That sent the yield on the 10-year Treasury note down to 3.12 percent from 3.14 percent late Tuesday.

The drop in bond yields, which affect interest rates on mortgages and other consumer loans, helped pull bank shares lower. Citizens Financial Group dropped 3.9 percent to $36.21.

Several big insurers also fell sharply. Progressive slumped 9.5 percent to $64.80.

The price of U.S. crude oil closed higher, ending a 12-day skid. The rebound came a day after U.S. crude oil had its steepest drop in more than three years. All told, benchmark U.S. crude oil gained 1 percent to settle at $56.25 a barrel in New York. Brent crude, used to price international oils, rose 1 percent to close at $66.12 a barrel in London.

Worries over rising oil production around the world and weakening demand from developing countries have been weighing on oil prices.

"When it first started going down in October there was some concern that demand was not going to hold up and it fed into those broader concerns that there was some softness in the broader economy," Lefkowitz said. "More recently, it's been more of a concern about too much supply."

Forecasts calling for a cold snap across much of the Northeast and South helped push the price of natural gas sharply higher. It soared 17.9 percent to $4.84 per 1,000 cubic feet.

The rebound in oil and gas prices helped boost energy stocks. Cimarex Energy climbed 2.6 percent to $86.57.

Technology sector companies took some of the heaviest losses. Apple dropped 2.8 percent to $186.80.

On the other end of the spectrum, media and communications companies led the gainers in the S&P 500. Comcast rose 1.5 percent to $38.29.

Shares in Pacific Gas & Electric had their steepest drop since 2002, sinking 21.8 percent to $25.59. The losses extending the electric utility's steep slide this week. The company told regulators last week that it experienced a problem on a transmission line in an area of Northern California where a deadly wildfire erupted last week. People who lost homes in the blaze sued PG&E Tuesday, accusing the utility of negligence and blaming it for the fire. PG&E's slide led a broad sell-off in utilities stocks.

Investors also had their eye on the latest batch of company earnings Wednesday.

Macy's tumbled 7.2 percent to $33.22 as traders grew concerned that the department store chain may have difficulty keeping up its streak of sales gains, even after the company upped its annual earnings expectations.

Blue Apron shares declined 4.1 percent to $1.17 after the meal kit shipping company issued a disappointing fourth-quarter outlook and said it is taking "strategic actions" that included slashing 4 percent of its workforce.

Canada Goose Holdings jumped 10 percent to $64.45 after the high-end coat maker reported earnings and revenue that beat analysts' forecasts.

The price of gold gained 0.7 percent to $1,210.10 an ounce. Silver also rose 0.7 percent to $14.08 an ounce. Copper added 0.9 percent to $2.71 a pound.

The dollar weakened to 113.51 yen from 113.86 yen on Wednesday. The euro strengthened to $1.1338 from $1.1268.

In other energy trading, heating oil rose 1.6 percent to $2.10 a gallon and wholesale gasoline gained 1.2 percent to $1.56 a gallon.

Major stock indexes in Europe fell, giving up early gains. Germany's DAX dropped 0.5 percent, while France's CAC lost 0.7 percent. The FTSE 100 index of leading British shares fell 0.3 percent.

In Asia, Japan's benchmark Nikkei 225 inched up 0.2 percent, while Australia's S&P/ASX 200 lost 1.7 percent. South Korea's Kospi edged down 0.2 percent. Hong Kong's Hang Seng fell 0.5 percent.


----------



## bigdog

https://www.usnews.com/news/busines...higher-after-wall-street-fall-brexit-approval

*Technology Companies, Banks Lead Rebound for US Stocks*
A rebound in technology companies and banks helped reverse an early slide for U.S. stocks Thursday, breaking a five-day losing streak for the market.

By ALEX VEIGA, AP Business Writer

A rebound in technology companies and banks helped reverse an early slide for U.S. stocks Thursday, breaking a five-day losing streak for the market.

Health care and industrial stocks also rose, offsetting losses in retailers, homebuilders, utilities and other sectors. Energy stocks also helped lift the market as the price of U.S. crude oil rose for the second straight day.

British bank stocks plunged and the British pound slumped amid discord over a new deal for Britain's departure from the European Union next Spring.

The late-afternoon market rebound marked the latest episode of volatile trading for the market this week.

"We're going back and forth between days when investors are taking risk-off and days when they're taking risk back on," said Jason Pride, chief investment officer of private clients at Glenmede. "We're probably going to go through a period of this basically because it's hard for investors to figure out where we are at this stage of the economic cycle."

The S&P 500 index rose 28.62 points, or 1.1 percent, to 2,730.20. The Dow Jones Industrial Average gained 208.77 points, or 0.8 percent, to 25,289.27. The Nasdaq composite climbed 122.64 points, or 1.7 percent, to 7,259.03. The Russell 2000 index of smaller companies picked up 21.62 points, or 1.4 percent, to 1,524.12.

Thursday's market rebound coincided with a Financial Times report citing unnamed sources that said the United States' trade representative, Robert Lighthizer, has told some executives that a planned escalation in January of U.S. tariffs on imported goods from China are now on hold.

"This bit of information helped to move the market higher today, especially technology stocks," said Quincy Krosby, chief market strategist at Prudential Financial.

The Trump administration has imposed a 10 percent tariff on $200 billion of Chinese goods over complaints Beijing steals or pressures foreign companies to hand over technology as the price of market access. That tariff had been due to rise to 25 percent in January. Another $50 billion of Chinese goods already is subject to 25 percent duties. Beijing has responded with penalty duties on $110 billion of American goods.

Washington and Beijing resumed talks over their spiraling trade dispute this week ahead of a meeting between Presidents Xi Jinping and Donald Trump, China's Commerce Ministry said Thursday.

Technology sector stocks accounted for much of the market's gain. Cisco Systems rose 5.5 percent to $46.77 a day after the company reported quarterly results that topped Wall Street's forecasts.

Financial sector stocks rebounded after taking heavy losses a day earlier. JPMorgan Chase gained 2.6 percent to $110.07.

Several big retailers slumped. Dillard's slid 14.8 percent to $62.85 after the retailer's quarterly earnings fell far short of what investors were expecting. Macy's gave up 2.9 percent to $32.27. Nordstrom dropped 3.5 percent to $58.99.

Traders also unloaded shares in homebuilders. KB Home had its steepest drop in more than three years after the homebuilder said new-home orders are down sharply in its current quarter versus a year ago.

The Los Angeles-based company's revenue projection for the quarter also fell below analysts' estimates. The stock plunged 15.3 percent to $17.61. Shares in other major homebuilders also skidded. Toll Brothers declined 5.9 percent to $29.94, while Lennar lost 5 percent to $39.53.

While a strong economy and job market helped boost home sales earlier this year, rising mortgage rates and home prices are becoming hurdles for many would-be buyers. The annual rate of new U.S home sales has dropped 15.3 percent since May, eliminating much of the strength in sales from the first five months of 2018.

Power provider Pacific Gas & Electric plunged for the sixth-straight day as concerns mounted over whether it could sustain losses related to the devastating wildfire in Northern California, which started Nov. 8 and has killed at least 56 people.

The company's stock price has plunged 63 percent since Nov. 8, wiping out $15.6 billion of market value. PG&E stock was the biggest decliner in the S&P 500 index Thursday. It sank 30.7 percent to $17.74.

Oil prices closed higher for the second straight day. Benchmark U.S. crude rose 0.4 percent to settle at $56.46 a barrel in New York. Brent crude, used to price international oils, gained 0.8 percent to close at $66.62 a barrel in London.

Despite the latest pickup, U.S. crude oil is still down about 13.5 percent for the month. The average price for a gallon of gasoline in the U.S. has dropped to $2.67 from $2.89 a month ago, according to AAA.

Natural gas, which spiked Wednesday amid forecasts calling for a cold snap across much of the Northeast and South, slumped 16.5 percent to $4.04 per 1,000 cubic feet.

In other energy trading, heating oil fell 1 percent to $2.07 a gallon and wholesale gasoline slid 0.3 percent to $1.56 a gallon.

Energy stocks got a boost from the pickup in oil prices. Noble Energy gained 3.1 percent to $29.50.

Bond prices rose. The 10-year Treasury fell to 3.11 percent from 3.12 percent late Wednesday.

The dollar rose to 113.58 yen from 113.51 yen on Wednesday. The euro strengthened to $1.1348 from $1.1338. The pound weakened to $1.2791 from $1.3038.

The price of gold gained 0.4 percent to $1,215 an ounce. Silver rose 1.3 percent to $14.26 an ounce. Copper added 1.3 percent to $2.75 a pound.

Major European stock indexes closed mostly lower following a flare-up in discord over British Prime Minister Theresa May's plan for Britain's departure from the European Union next year. She persuaded a majority in her Cabinet to back an agreement that would allow Britain to stay in a customs union while a trade treaty is negotiated, but the deal faces an uncertain fate in Parliament and two of her Cabinet ministers, including the Brexit minister, resigned in protest.

The disarray surrounding the process sent the pound lower and hit British bank stocks. Barclay's slid 5.1 percent to $8.54 and Royal Bank of Scotland slumped 8.9 percent to $5.93.

Germany's DAX dropped 0.5 percent and France's CAC 40 shed 0.7 percent. London's FTSE 100 rose 0.1 percent. In Asia, Hong Kong's Hang Seng added 1.7 percent and Tokyo's Nikkei 225 gave up 0.2 percent. Seoul's Kospi gained 1 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ares-mixed-on-uncertainty-over-trade-tensions

*Health Care, Energy Companies Power US Stock Market Higher*
Wall Street capped a day of volatile trading with a late-afternoon buying spree that sent U.S. stock indexes to a mostly higher finish Friday.

By ALEX VEIGA, AP Business Writer

Wall Street capped a day of volatile trading with a late-afternoon buying spree that sent U.S. stock indexes to a mostly higher finish Friday.

Despite the 11th-hour rally, the benchmark S&P 500 index ended with its second weekly loss in four weeks.

Gains in health care and energy companies powered the market higher. Energy companies also rose.

The market got a brief boost after President Donald Trump expressed optimism that the U.S. and China will reach a deal to resolve their costly trade dispute. The remarks came as representatives of both countries have resumed talks.

Large retailers and media and communications companies were the laggards.

"The market and market participants are more unsettled now than they have been in years," said Tom Martin, senior portfolio manager with Globalt Investments. "We're that much further on in the cycle and you have these tariffs and trade wars that are really still in the very early stages."

The S&P 500 index rose 6.07 points, or 0.2 percent, to 2,736.27. The Dow Jones Industrial Average gained 123.95 points, or 0.5 percent, to 25,413.22. The Nasdaq composite slid 11.16 points, or 0.2 percent, to 7,247.87. The Russell 2000 index of smaller companies picked up 3.41 points, or 0.2 percent, to $1,527.53.

The S&P 500, which finished higher for the second straight day, ended the week with a loss of 1.6 percent.

Like much of this week, the market spent much of Friday veering between bouts of listless trading and modest swings.

"Investors are really trying to figure out how they want to be positioned based on the incoming information," Martin said. "It's not surprising to me that at this time of year, given what we've seen, that we're getting the intraday moves we're getting."

One of the day's market swings came as traders reacted to Trump's remarks on trade.

At the White House, speaking about the lingering trade dispute, the president said he hoped the U.S. could make a deal with China.

"I think a deal will be made," Trump said. "We'll find out very soon."

Stocks snapped higher after the remarks were reported, with the Dow briefly jumping as much as 220 points, before pulling back to about where they were beforehand.

Soybean futures spiked after Trump's comments. Soybean prices have fallen sharply since this Spring as the trade dispute with China led to a steep drop in China's purchases of U.S. soybeans. Soybean futures jumped from $8.83 to $8.92 a bushel following the comments. They had traded as high as $10.78 a bushel in early March.

The Trump administration has imposed a 10 percent tariff on $200 billion of Chinese goods over complaints Beijing steals or pressures foreign companies to hand over technology as the price of market access. That tariff is set to rise to 25 percent in January. Another $50 billion of Chinese goods already is subject to 25 percent duties. Beijing has responded with penalty duties on $110 billion of American goods.

Washington and Beijing resumed talks over their spiraling trade dispute this week ahead of a meeting between President Xi Jinping and Trump, China's Commerce Ministry said Thursday.

Health care stocks were among the biggest gainers Friday. Universal Health Services gained 3.9 percent to $133.

Troubled California power provider PG&E surged 37.5 percent to $24.40 after the president of the utility's state regulator said it was essential for a power company to have the financial strength to operate safely. The remark late Thursday by California Public Utilities Commission President Michael Picker appeared to reassure investors concerned the company may face a torrent of costs related to the devastating wildfire in Northern California. There's been speculation that PG&E's equipment may have set off the blaze, which started Nov. 8 and has killed at least 56 people.

Chipmaker Nvidia led a sell-off in technology stocks. The company plunged 18.8 percent to $164.43 after saying it had a large number of unsold chips because of a big drop in mining of cryptocurrencies.

Retailers also weighed on the market. Nordstrom cratered 13.7 percent to $50.93 after the department store issued weak guidance for the full year. That disappointing outlook overshadowed the company's third-quarter results, which topped Wall Street's estimates.

Williams-Sonoma tumbled 11.2 percent to $53.76 after the cookware seller said products were delayed because of shipping congestion out of China ahead of U.S. tariffs.

The price of U.S. crude oil finished flat after a two-day winning streak. Benchmark U.S. crude oil was unchanged at $56.46 a barrel in New York. Brent crude, used to price international oils, gained 0.2 percent to $66.76 a barrel in London. Despite the latest uptick, U.S. crude oil is still down about 13 percent for the month.

The pickup in oil prices helped lift energy stocks. Helmerich & Payne rose 4.2 percent to $62.59.

In other energy trading, heating oil held steady to $2.07 a gallon and wholesale gasoline jumped 1.3 percent to $1.58 a gallon.

Natural gas, which spiked earlier this week amid forecasts calling for a cold snap across much of the Northeast and South, continued to climb Friday, adding 5.8 percent to $4.27 per 1,000 cubic feet. It is now up around 32 percent this month.

Bond prices rose. The 10-year Treasury fell to 3.07 percent from 3.11 percent late Thursday.

The dollar fell to 112.83 yen from 113.58 yen on Thursday. The euro strengthened to $1.1412 from $1.1348. The pound rose to $1.2831 from $1.2791.

The price of gold rose 0.7 percent to $1,223 an ounce. Silver gained 0.8 percent to $14.38 an ounce. Copper climbed 1.9 percent to $2.80 a pound.

Major European stock indexes closed lower as trade tensions and political risks surrounding Britain's exit from the European Union kept investors cautious. Germany's DAX lost 0.1 percent and France's CAC slid 0.2 percent. Britain's FTSE 100 gave up 0.3 percent.

In Asia, Japan's Nikkei 225 index lost 0.6 percent while the Hang Seng in Hong Kong added 0.3 percent. South Korea's Kospi rose 0.2 percent.

6926


----------



## bigdog

https://www.usnews.com/news/busines...mostly-up-cheered-by-wall-street-buying-spree

*US Stocks Take Sharp Losses as Tech, Internet Companies Drop*
Big technology and internet companies again came under heavy selling pressure, leading to broad losses across the market.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Big technology and internet companies tumbled again Monday, leading to broad losses across the stock market. The Dow Jones Industrial Average briefly fell 500 points.

Apple, Microsoft and Amazon, the most valuable companies on the market, sustained some of the worst losses. Facebook, another longtime investor darling that has fallen out of favor since this summer, also skidded.

After a brutal October, stocks had started to recover early this month. But continued losses for tech companies have sent major indexes lower again.

Mark Hackett, chief of investment research at Nationwide Investment Management, said investors are dumping the high-profile technology companies that have dominated the market recently. He said investors are picking companies based on traditional profit and revenue figures instead of the kind of user growth figures favored by tech companies.

"These things had outperformed the S&P by a mile over the last three years," he said, but that's changed now. "On good days they're not the leaders, and on bad days they're the laggards."

The S&P 500 index fell 45.54 points, or 1.7 percent, to 2,690.73. The Dow Jones Industrial Average sank 395.78 points, or 1.6 percent, to 25,017.44. It was down as much as 512 earlier.

The Nasdaq composite skidded 219.40 points, or 3 percent, to 7,028.48. The Russell 2000 index of smaller-company stocks lost 30.99 points, or 2 percent, to 1,496.54.

Investors focused again on trade tensions between the U.S. and China after the two countries clashed at a Pacific Rim summit over the weekend.

A steep loss for Boeing, a major exporter which would stand to suffer greatly in a protracted trade war, weighed heavily on the Dow. Boeing gave up 4.5 percent to $320.94, but is still one of the best-performing stocks in the 30-stock index. Apple fell 4 percent to $185.86 on renewed worries that iPhone sales could slow, Microsoft lost 3.4 percent to $104.62 and Amazon gave back 5.1 percent to close at $1,512.29.

High-dividend stocks like real estate companies and utilities, which investors favor when they are fearful of market turmoil, held up better than the rest of the market.

The disagreements between the U.S. and China at the Asia-Pacific Economic Cooperation meeting left investors feeling pessimistic about the prospects for a deal that would end the trade tensions between the world's two largest economies. For the first time in almost 30 years, leaders at the summit could not agree on a joint declaration on world trade.

Talks between the U.S. and China are continuing ahead of a meeting between Chinese President Xi Jinping and President Donald Trump planned for the G-20 summit later this month.

Among tech and internet stocks, chipmaker Nvidia dropped another 21 percent to $144.70. Nvidia said last week that it had a large number of unsold chips because of a big drop in mining of cryptocurrencies. Facebook sank 5.7 percent to $131.55 and Netflix lost 5.6 percent to $270.21.

The S&P 500 index of technology companies has now plunged 13.1 percent since the end of September.

Nissan said its chairman, Carlos Ghosn, was arrested Monday and will be dismissed from the company after allegedly under-reporting his income. Nissan said an internal investigation found Ghosn under-reported his income by millions of dollars and engaged in other "significant misconduct."

U.S.-traded shares of Nissan lost 5.8 percent to $16.90. In Paris, shares of Nissan's partner Renault dropped 8.4 percent.

Industrial companies and retailers also stumbled. Caterpillar fell 3.1 percent to $125.98 and Nike lost 3 percent to $72.52.

Benchmark U.S. crude reversed an early loss and rose 0.5 percent to $56.76 a barrel in New York. U.S. crude prices have dropped for six weeks in a row and are trading around their lowest level in about nine months.

Brent crude, used to price international oils, was little changed at $66.79 a barrel in London.

Wholesale gasoline added 0.4 percent to $1.58 a gallon. Heating oil gained 0.6 percent to $2.09 a gallon. Natural gas surged 10 percent to $4.70 per 1,000 cubic feet.

The parent company of California utility Pacific Gas & Electric fell again after it disclosed that it had a power line failure near the start of a deadly wildfire the morning the fire began. The Mercury News of San Jose reported Saturday that the company said it had an outage at 6:45 a.m. on Nov. 8 in Concow. The Camp Fire has killed at least 77 people and destroyed more than 10,500 homes.

PG&E stock fell 4.7 percent to $23.26. The stock has plunged 51 percent since Nov. 8 as investors try to assess the damages the company might have to pay if it's held liable for the blaze.

Gold rose 0.2 percent to $1,225.30 an ounce. Silver inched up 0.1 percent to $14.40 an ounce. Copper held steady at $2.80 a pound.

Bond prices rose. The yield on the 10-year Treasury note fell to 3.05 percent from 3.07 percent. The dollar slipped to 112.54 yen from 112.83 yen. The euro rose to $1.1453 from $1.1412. The pound rose to $1.2855 from $1.2831.

France's CAC 40 gave up 0.8 percent and Germany's DAX slid 0.9 percent. Britain's FTSE 100 slipped 0.2 percent. Japan's benchmark Nikkei 225 rose 0.7 percent and Hong Kong's Hang Seng added 0.7 percent. South Korea's Kospi gained 0.4 percent.


----------



## bigdog

SEA OF RED AGAIN

ALL ORDS reported as 22 month low

DUMP TRUMP!!







https://www.usnews.com/news/busines...-slide-after-wall-street-losses-nissan-arrest

*Tech Giants Plunge Again, Pushing Market Into Red for Year*
Stocks skid Tuesday as weak results from retailers and mounting losses for big technology companies push the market back into the red for the year.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks dropped again Tuesday as losses mounted for the world's largest technology companies. Retailers also fell, and energy companies plunged with oil prices as the market sank back into the red for the year.

Oil prices tumbled another 6.6 percent as Wall Street reacted to rising oil supplies and concerns that global economic growth will slow down, a worry that's intensified because of the trade tensions between the U.S. and China.

Technology companies were hit after the Trump administration proposed new national security regulations that could limit exports of high-tech products in fields such as quantum computing, machine learning and artificial intelligence.

Retailers also skidded. Target's profit disappointed investors as it spends more money to revamp its stores and its website, while Ross Stores, TJX and Kohl's also fell on disappointing forecasts.

The S&P 500 index lost 48.84 points, or 1.8 percent, to 2,641.89. The Dow Jones Industrial Average sank 551.80 points, or 2.2 percent, to 24,465.64.

The tech-heavy Nasdaq composite lost 119.65 points, or 1.7 percent, to 6,908.82. The Russell 2000 index of smaller-company stocks shed 27.53 points, or 1.8 percent, to 1,469.01.

The Dow Jones Industrial Average has lost 3.7 percent in the last two days, and the S&P 500 is off 3.4 percent. The Nasdaq, heavily populated with technology stocks, is off 4.7 percent. The S&P 500 index has fallen 9.9 percent from the record high it set exactly two months ago.

Investors are measuring a number of headwinds and increasingly playing it safe. The global economy is showing signs of weakening, with the United States, China and Europe all facing the rising threat of a slowdown, which can hurt demand for commodities such as oil and pose a threat to company profits. Trade tensions between the U.S. and China appear to be getting worse instead of improving, contributing to the sell-off in tech stocks and multinational industrial companies.

For much of this year, investors were hopeful the U.S. and China would easily resolve their differences on trade. That hope has faded in the last two months. While U.S. President Donald Trump and China President Xi Jinping are expected to meet this month at a gathering of the Group of 20 major economies, the proposed limits on tech exports were one more reason to worry.

"A resolution doesn't seem to be coming in the short term," said Katie Nixon, the chief investment officer for Northern Trust Wealth Management. "A lot of the companies that are front and center (like) Alphabet, Apple, IBM ... could be significantly limited in the way they export their technology."

Apple fell 4.8 percent to $176.98 and is down 23.7 percent from the peak it reached October 3, though it's still up almost 5 percent this year. Microsoft lost 2.8 percent to $101.71 and IBM fell 2.6 percent to $117.20

As the tech giants swoon, investors have lately turned to safer bets such as utilities, real estate companies and makers of household goods. They've also sought the safety of U.S. Treasuries.

The price of oil has been falling sharply in recent weeks and is now down 30 percent since October 3.

Saudi Arabia and other countries started producing more oil after the Trump administration announced renewed sanctions on Iran, Nixon noted. The administration granted waivers to several countries allowing them to continue importing oil from Iran, creating a supply glut that pushed prices dramatically lower.

Nixon said OPEC countries will probably cut back on oil production, but some investors are worried that the buildup in crude stockpiles is a sign the global economy isn't doing as well as expected.

Earnings from retailers didn't help investors' mood. Target plunged skidded 10.5 percent to $69.03 after reporting earnings that missed Wall Street's estimates due to higher expenses. Ross Stores, TJX and Kohl's also fell on disappointing forecasts.

Tech stocks were among the biggest losers in Europe, too. Nokia and Ericsson, two top suppliers of telecom networks, each fell about 3 percent. European indexes fell, with Germany's DAX index dropping 1.6 percent and the French CAC 30 falling 1.2 percent. Britain's FTSE 100 lost 0.8 percent.

Stocks also declined in Asia. Japan's Nikkei 225 lost 1.1 percent and Hong Kong's Hang Seng shed 2 percent.

Benchmark U.S. crude lost 6.6 percent to $53.43 a barrel in New York. Brent crude, used to price international oils, fell 6.4 percent to $62.53 per barrel in London. Oil prices have nosedived since early October.

Wholesale gasoline fell 5.5 percent to $1.50 a gallon and heating oil skidded 4.6 percent to $1.99 a gallon. Natural gas dipped 3.8 percent to $4.52 per 1,000 cubic feet.

Bond prices were steady. The yield on the 10-year Treasury note remained at 3.06 percent.

Gold slipped 0.3 percent to $1,221.20 an ounce. Silver fell 0.9 percent to $14.27 an ounce. Copper slid 1.2 percent to $2.77 a pound.

The dollar fell to 112.40 yen from 112.54 yen. The euro fell to $1.1399 from $1.1453.


----------



## bigdog

*NYSE closed tomorrow for Thanksgiving holiday*






https://www.usnews.com/news/busines...-fall-on-sign-of-escalating-us-china-tensions

*Stocks Edge Higher on Wall Street After 2 Days of Big Losses*
Stocks tick higher in quiet trading ahead of the Thanksgiving holiday as high-growth technology, internet and retail companies get a reprieve from their recent losses.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks in the U.S. finished mostly higher Wednesday, a break after two days of steep losses. Technology and internet companies and retailers were responsible for most of the gains.

The gains came from high-growth stocks such as retail and industrial companies, and energy companies benefited as crude oil rose about 2 percent. Smaller and more domestically-focused companies surged. Those sectors have slumped over the last two months. Despite the gains Wednesday, the S&P 500 is down 3.2 percent so far this week.

Alec Young, managing director of global markets research at FTSE Russell, said the market has tumbled this autumn because growth in the global economy and in company profits is slowing down, and investors are worried that the situation will get worse.

Young said Wall Street essentially has a two-item wish list for the holidays: a general trade agreement between the U.S. and China, and a sign the Fed will raise interest rates at a more gradual clip. Presidents Donald Trump and Xi Jinping are scheduled to discuss the trade situation at a Group of 20 summit at the end of this month. If those things transpire, he said, the stock market will settle down.

"All they have to do is agree on a high-level framework that can delay the increase in the tariffs," Young said. "If the Fed is more dovish and we get some positive news on China, we can have a solid end to the year."

The S&P 500 index rose as much as 1.1 percent in early trading, but finished with a gain of just 8.04 points, or 0.3 percent, at 2,649.93.

The Dow Jones Industrial Average slipped 0.95 points to 24,464.69. The Nasdaq composite climbed 63.43 points, or 0.9 percent, to 6,972.25. The Russell 2000 index of smaller-company stocks rose 19.27 points, or 1.3 percent, to 1,488.28.

Trading was relatively quiet ahead of the Thanksgiving holiday. U.S. markets will be closed Thursday, and will be open for a half-day on Friday.

European stock indexes also recovered. Germany's DAX jumped 1.6 percent. Britain's FTSE 100 rose 1.5 percent and the CAC 40 in France added 1 percent.

Strong reports from companies including Foot Locker helped retailers. The shoe and athletic apparel company climbed 14.9 percent to $52.96 after its third-quarter profit and revenue surpassed Wall Street's expectations. The company said sales broke out of a slump and prices also rose. Gap rose 4.7 percent to $25.81 after reporting solid quarterly results and saying it will close more struggling Gap locations.

That contributed to a rebound for retailers after they dropped on Tuesday. Home improvement company Lowe's gained 2.5 percent to $88.37 and Nike rose 1.8 percent to $72.37.

Technology companies recovered a sliver of their recent losses. Adobe rose 2.8 percent to $225.98 and design software maker Autodesk climbed 9.7 percent to $135.04 after a strong quarterly report. The company also said it is buying construction software company PlanGrid for $875 million.

Amazon rose 1.4 percent to $1,516.73 and Facebook jumped 1.8 percent to $134.75. Microsoft picked up 1.4 percent to $103.11, but Apple lost 0.1 percent to $176.89.

Apple's market value has dropped by $264 billion since early October and Amazon has fallen by $251 billion since early September. Since late July, Facebook has lost $241 billion and Alphabet is down by $169 billion. That's $925 billion in value lost by just those four companies, more than any S&P 500 company is worth. Apple is the most valuable company on the index and is currently worth about $839 billion.

Oil prices rebounded as benchmark U.S. crude gained 2.2 percent to $54.63 a barrel in New York. It fell 6.6 percent on Tuesday and finished at its lowest price in a year. Brent crude, the international standard traded in London, rose 1.5 percent to $63.48 a barrel.

Chevron rose 1.3 percent to $117.57 and Exxon Mobil gained 0.8 percent to $77.56.

Crude prices have plunged since early October as global stockpiles surged. Production increased after the U.S. said it would re-impose sanctions on Iran's energy sector, but it later granted waivers that allowed many countries that buy oil from Iran to continue making those purchases. If the global economy slows significantly, that would also reduce demand for oil.

Bond prices fell. The yield on the 10-year Treasury note rose to 3.06 percent from 3.04 percent.

Utilities and other high-dividend stocks also declined. Those companies have done better than the rest of the market during turbulent trading in October and November, but when the market makes a broad rebound they usually get left behind. Coca-Cola fell 1.3 percent to $48.73 and Duke Energy lost 2.3 percent to $86.45.

Wholesale gasoline rose 1 percent to $1.51 a gallon. Heating oil lost 1 percent to $1.97 a gallon. Natural gas fell 1.6 percent to $4.45 per 1,000 cubic feet. Gold gained 0.6 percent to $1,228 an ounce. Silver added 1.6 percent to $14.50 an ounce. Copper rose 1 percent to $2.79 a pound.

The dollar rose to 113.06 yen from 112.40 yen. The euro edged down to $1.1388 from $1.1399.

In Asia, Japan's benchmark Nikkei 225 dropped 0.4 percent and the Kospi in South Korea was down 0.3 percent. Hong Kong's Hang Seng index rose 0.5 percent.


----------



## bigdog

*NYSE closed for Thanksgiving holiday*













https://www.theage.com.au/business/...cerns-weigh-on-investors-20181123-p50hsg.html

*European stocks struggle as global concerns weigh on investors*

Europe's share markets fell back into the red on Thursday, as investor worries about slowing global growth in the face of rising US interest rates and trade tensions outweighed crucial Brexit progress.

Chinese markets had extended their slump in Asia amid the trade war with the United States, and with Wall Street closed later for Thanksgiving and trading therefore lighter than normal, Europe followed suit.

The region also had plenty to keep it busy.

A disappointing batch of company earnings added to the stocks gloom but Italian bonds rallied for a second day as sparring continued over its budget and sterling jumped as London and Brussels agreed wording on a Brexit transition deal.

The dollar also edged lower for a second day as traders sold the greenback going into Thanksgiving and after Wall Street had seen Apple shares, which have slumped $US280 billion ($386 billion) in recent weeks, fail with an attempted rebound.

"I think that the recent moves in equities have largely been about big tech catching up with the rest of the market," said Eoin Murray, the head of investment at Hermes Investment Management.

"Post the (global market) wobbles at the end of January, it has really only been big tech that has run off into the stratosphere ... So this is simply big tech coming back down to earth."

Europe's tech sector duly lost another 0.75 per cent, but it wasn't the worst performer. Banks fell as much as 1.6 per cent and mining companies and other resources firms dropped nearly 2 per cent before clawing some ground back.

The falls also reflected the bitter Sino-US trade war, encouraging investors to take money off the table before US President Donald Trump and his Chinese counterpart, Xi Jinping, meet in Argentina next week.

The focus is on whether they can make any progress on their trade feud.

Countries belonging to the G20 group of the world's biggest economies applied 40 new trade restrictive measures between mid-May and mid-October, covering around $US481 billion of trade, the World Trade Organization said on Thursday.

Three-quarters of the restrictions were tariff hikes, many of them retaliation to steel and aluminium tariffs imposed by US President Donald Trump in March.

But the WTO did not count measures announced since or not yet implemented, and one G20 country had asked for its actions to be omitted from the monitoring report, the WTO said.

*Rush for the Brexit*
With no US trading to look forward to later, traders contented themselves by watching Europe's Brexit drama unfold.

Sterling jumped back up to $US1.29 and 88.50 pence per euro after London and Brussels agreed on a text setting out their post-split ties that EU leaders are expected to endorse at a summit on Sunday.

Just over four months before Britain's departure from the EU, Brexit negotiations and political uncertainty in Britain remain the key drivers for the pound, and many analysts are cautious about its prospects.

"With the UK and EU rushing to dot i's and cross t's on a Brexit deal, there's some support for sterling at the moment and some upward pressure on the front end of the rates market," said Societe Generale strategist Kit Juckes.

"Though it won't take long before we refocus on the challenge facing the Prime Minister in getting House of Commons support for her Brexit deal," he added.

Simon Fraser, the former permanent secretary at the UK foreign office, said he expected British politicians to vote on May's deal on December 10.

"There would be a huge amount of pressure put on members of parliament and I think there is a reasonable chance she would get this through ... if not at the first vote potentially in a second vote," he told a call held by fund manager Amundi.

*Oil toils*
The Brexit text had also seen the euro rise against the dollar which meant the single currency barely budged when ECB meeting minutes showed its policymakers were keen to affirm their plans to cut stimulus at the end of the year.

South Africa's central bank triggered far more action though, as a tight decision to hike interest rate in what had already been a hard to call meeting sent its currency, the rand, up more than 1 per cent.

Back in emerging economy share markets, MSCI's broadest index of Asia-Pacific shares outside Japan had ended little changed after recovering from an initial wobble.

The index has managed to hold up so far in November after three straight monthly declines, but is on track for its worst annual performance since 2011.

Japan's Nikkei had finished almost 0.7 per cent higher but the ongoing trade and tech jitters saw Chinese shares close 0.4 per cent in the red.

"Investors are still wary about whether they'll see further lows, given none of the issues that drove the recent correction have dissipated," said Shane Oliver, Sydney-based head of investment strategy at AMP.

In commodities, China-sensitive metals like copper fell and oil prices reversed, although they were still above one-year lows touched earlier this week.

US crude futures were last down 42 cents at $US54.21 a barrel after hitting a one-year low of $US52.77 on Tuesday. Brent eased 45 cents to $US63.03, off Tuesday's low of $US61.71.

Gold rose, with spot prices at $US1,227.60 an ounce.


----------



## bigdog

*Now added S&P/ASX 200 to indexes*






https://www.usnews.com/news/busines...all-on-risks-while-us-closes-for-thanksgiving

*S&P 500 Slides Into 'Correction' for Second Time This Year*
U.S. stocks closed lower Friday, bumping the benchmark S&P 500 index into a correction, or drop of 10 percent from its recent all-time high.

By ALEX VEIGA, AP Business Writer

U.S. stocks closed lower after a shortened session Friday, bumping the benchmark S&P 500 index into a correction, or drop of 10 percent below its most recent all-time high in September.

Energy companies led the market slide as the price of U.S. crude oil tumbled to its lowest level in more than a year, reflecting worries among traders that a slowing global economy could hurt demand for oil.

"Oil is really falling sharply, continuing its downward descent, and that appears to be giving investors a lot of concern that there's slowing global growth," said Jeff Kravetz, regional investment director at U.S. Bank Private Wealth Management. "You have that, and then you have the recent sell-off in tech and in retail, and then throw on there trade tensions and rising rates."

Losses in technology and internet companies and banks outweighed gains in health care and household goods stocks. Several big retailers declined as investors monitored Black Friday for signs of a strong holiday shopping season.

Trading volume was lighter than usual with the markets open for only a half day after the Thanksgiving holiday.

The S&P 500 index fell 17.37 points, or 0.7 percent, to 2,632.56. The index is now down 10.2 percent from its last all-time high set Sept. 20. The last time the index entered a correction was in February.

The latest correction comes as investors worry that corporate profits, a key driver of stock market gains, could weaken next year.

"The market is re-pricing and trying to assess where we're going to be in the early part of 2019," said Quincy Krosby, chief market strategist at Prudential Financial.

The Dow Jones Industrial Average lost 178.74 points, or 0.7 percent, to 24,285.95. The Nasdaq composite dropped 33.27 points, or 0.5 percent, to 6,938.98. The Russell 2000 index of smaller-company stocks picked up 0.40 points, or 0.03 percent, to 1,488.68.

Crude oil prices fell for the seventh straight week on worries that a slowing global economy could hurt demand even as oil production has been increasing.

The benchmark U.S. crude contract slid 7.7 percent to settle at $50.42 per barrel in New York. That is the lowest since October 2017. Brent crude, the international standard, lost 6.1 percent to close at $58.80 per barrel in London.

Saudi Arabia and other OPEC members have recently signaled a willingness to consider production cuts at the oil cartel's meeting next month. The U.S. has been increasing pressure on Saudi Arabia and OPEC to not cut production, however, a move which could push prices down further.

The slide in oil prices weighed on energy stocks. Concho Resources, a developer and explorer of oil and natural gas properties, slumped 6.3 percent to $126.96.

Tesla fell 3.7 percent to $325.83 after the electric auto maker said it intends to cut prices for its Model X and Model S cars in China to make them more affordable.

Traders had their eye on retailers as Black Friday, the traditional start to the crucial holiday shopping season, began. Shares in L Brands, operator of Victoria's Secret and Bath & Body Works, added 2 percent to $29.97. Other retailers put investors in a selling mood. Kohl's fell 3.7 percent to $63.83, while Target lost 2.8 percent to $67.35. Macy's dropped 1.8 percent to $32.01.

Rockwell Collins climbed 9.2 percent to $141.63 after Chinese regulators conditionally approved the sale of the maker of communications and aviation electronics systems to United Technologies Corp.

Investors will be watching next week when Presidents Xi Jinping and Trump meet at the Group of 20 summit in Argentina for signs that the two leaders can find common ground to begin unwinding the spiraling trade dispute.

The dispute between the U.S. and China has weighed on the market, stoking traders' worries that billions in escalating tariffs imposed by both countries on each other's goods will hurt corporate earnings at a time when the global economy appears to be slowing.

"If you can get President Trump and President Xi to even just come closer with their rhetoric and make a bit of progress on the trade front that could be the catalyst for markets to move higher," Kravetz said.

It may take more than a meeting to work out deep-seated issues between Washington and Beijing, which resumed talks over their trade dispute earlier this month. According to The Wall Street Journal, the U.S. has asked its allies to stop using telecommunications equipment from Huawei, which is Chinese-owned. The report cited people familiar with the matter.

Bond prices fell Friday. The yield on the 10-year Treasury note rose to 3.05 percent from 3.04 percent late Wednesday.

The dollar fell to 112.88 yen from 112.97 yen late Thursday. The euro weakened to $1.1330 from $1.1406. The pound eased to $1.2810 from $1.2876.

Gold declined 0.4 percent to $1,223.20 an ounce. Silver dropped 1.8 percent to $14.24 an ounce. Copper slid 1 percent to $2.77 a pound.

In other commodities trading, wholesale gasoline plunged 7.9 percent to $1.39 a gallon. Heating oil lost 4.8 percent to $1.88 a gallon. Natural gas fell 3.2 percent to $4.31 per 1,000 cubic feet.

Major indexes in Europe finished mostly higher after shaking off an early slide.

Traders were weighing the latest developments in the negotiations for Britain's exit from the European Union. Both sides were finalizing the terms of the divorce Friday and expected to sign off on the deal Sunday, though it's unclear whether the British parliament will pass the deal.

The FTSE 100 index of leading British shares slipped 0.1 percent. Germany's DAX index rose 0.5 percent, while France's CAC 40 gained 0.2 percent.

Earlier in Asia, South Korea's Kospi shed 0.6 percent and Hong Kong's Hang Seng index dropped 0.4 percent. Australia's S&P/ASX 200 bucked the trend, gaining 0.4 percent. Shares fell in Taiwan and rose in Singapore, Thailand and Indonesia. Japanese markets were closed for a holiday.

7300


----------



## bigdog

*Hopefully a bounce back in OZ today!*






https://www.usnews.com/news/busines...ks-rise-on-hopes-us-china-will-unwind-dispute

*Stocks Bounce Back as Tech, Retail and Banks Jump*
U.S. stocks climb as technology and retail companies climb on the first full trading day of the holiday shopping season.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Global stocks rose Monday after taking big losses last week. Major technology companies recovered some of their recent losses and retailers and travel companies climbed on the first full trading day of the holiday shopping season.

Major indexes in the U.S., Europe and Asia all climbed. London's main stock index jumped after the British government and the European Union agreed to terms governing Britain's departure from the EU in March. It's not clear if Parliament will approve the deal.

Stocks have been in a steep downturn since early October, but that slump has included some substantial rallies. Banks rose Monday as interest rates turned higher after a two-week slide. The first full trading day of the holiday shopping period was a strong one for companies that sell goods and services to consumers. General Motors surged after saying it will lay off 14,000 workers and will focus more on autonomous and electric vehicles.

On Friday the benchmark S&P 500 index closed 10.2 percent beneath the record high it had set in late September. That's the second time this year the index has dropped 10 percent from a recent peak, a mark known on Wall Street as a "correction." The tech-heavy Nasdaq composite and the smaller, more U.S.-focused Russell 2000 have suffered even worse downturns dating to late August.

Stocks have skidded recently as investors have grown doubtful that the U.S. and China will resolve their differences over technology policy and other issues. Their fears could be confirmed or upended in a few days, as U.S. President Donald Trump and Chinese President Xi Jinping are scheduled to discuss their trade dispute at the Group of 20 summit meeting in Buenos Aires, Argentina at the end of this week.

"A fair amount of trade escalation between the U.S. and China is being priced in by the market," said Justin Waring, a strategist at UBS Global Wealth Management's Chief Investment Office. "Any kind of statement that there will be a formal trade negotiation round following that meeting would be viewed as positive."

The U.S. is scheduled to raise import taxes on $200 billion in Chinese imports on Jan. 1, and investors are worried China will retaliate. Even if those tariffs do take effect, Waring said stocks could still gain as long as countries say they will hold off on further tariff increases while they negotiate.

The S&P 500 climbed 40.89 points, or 1.6 percent, to 2,673.45. The Dow Jones Industrial Average gained 354.29 points, or 1.5 percent, to 24,640.24.

The Nasdaq rose 142.87 points, or 2.1 percent, to 7,081.85. The Russell 2000 index of smaller-company stocks added 17.28 points, or 1.2 percent, to 1,505.96.

Among retailers, Amazon rallied 5.3 percent to $1,581.33 and Nike rose 1.7 percent to $72.71. Companies in travel and leisure also surged. Booking Holdings, the parent company of Priceline, gained 2.2 percent to $1,802.44 and MGM Resorts rose 5 percent to $27.11.

Adobe Analytics reported that shoppers spent about $10 billion online Thursday and Friday.

"The U.S. consumer contributes about 70 percent of gross domestic product, and the holiday season is always a big chunk of that spending," said Waring. "The competition is definitely breeding some more interesting sales tactics."

Technology companies and retailers have been hit hard during the market's recent slide, and they made some of the largest gains Monday. Microsoft added 3.3 percent to $106.47 and Cisco Systems gained 2.3 percent to $45.57.

General Motors rocketed 4.8 percent to $37.65 after announcing that it will lay off 14,000 factory and white-collar workers in North America and could close five plants. In addition to its focus on autonomous and electric vehicles, GM said it wants to prepare for a future economic downturn while conditions are still good.

Benchmark U.S. crude added 2.4 percent to $51.63 a barrel in New York. Brent crude, the international standard, gained 2.9 percent to $60.48 a barrel in London.

Crude prices have dropped by about one-third since early October as investors reacted to rising global fuel stockpiles and concerns about slowing economic growth. Representatives of OPEC and other major oil producers will meet in Vienna in early December to discuss a possible cut in production.

The European Union and Britain sealed an agreement governing the country's departure from the bloc on March 29. The deal leaves Britain subject to rules of the bloc at least until the end of 2020. Both pro-Brexit and pro-EU legislators have criticized the proposal, and so it's far from clear if Prime Minister Theresa May can get the pact approved.

Germany's DAX index rose 1.4 percent. France's CAC 40 rose 1 percent and the British FTSE 100 added 1.2 percent.

Japan's benchmark Nikkei 225 added 0.8 percent and South Korea's Kospi jumped 1.2 percent. Hong Kong's Hang Seng index rebounded 1.7 percent.

The dollar rose to 113.64 yen from 112.88 yen late Friday. The euro edged down to $1.1328 from $1.1330.

Bond prices fell. The yield on the 10-year Treasury note rose to 3.06 percent from 3.05 percent. That sent interest rates higher, which helped banks. JPMorgan Chase jumped 2.4 percent to $109.26 and Citigroup climbed 3.2 percent to $63.73.

In other commodities trading, wholesale gasoline rose 3.7 percent to $1.44 a gallon. Heating oil added 0.9 percent to $1.89 a gallon. Natural gas fell 1.4 percent to $4.25 per 1,000 cubic feet.

Gold dipped 0.1 percent to $1,222.40 an ounce. Silver lost 0.3 percent to $14.21 an ounce and copper fell 0.1 percent to $2.76 a pound.


----------



## Skate

Hi bigdog

The Dow Jones Industrial Average is missing from your chart

DJI = 24,640.24 +354.29 (1.46%)

Skate


----------



## bigdog

https://www.usnews.com/news/busines...es-rise-despite-trumps-latest-talk-on-tariffs

*US Stock Indexes Edge Higher a Day After a Big Gain*
US stock indexes end a wobbly day of trading with modest gains as communications and utility stocks rise but industrial stocks and smaller companies drop.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks wobbled Tuesday as large high-dividend stocks rose and smaller companies sank. Major indexes were coming off big gains the day before.

Big health care companies including Johnson & Johnson rallied, as did telecommunications and household goods makers. Steel and other materials makers skidded, and a steep loss for United Technologies pulled defense contractors lower.

Technology companies rose even though President Donald Trump said he expects more tariffs on goods imported from China, some of which would hit products like computers and smartphones. Trump is scheduled to meet with Chinese President Xi Jinping during the Group of 20 summit in Argentina later this week.

"It is not unexpected that the administration would ramp up their threats moving into that meeting," said Tracie McMillion, head of global asset allocation for the Wells Fargo Investment Institute. She said trading will probably be volatile for the rest of the week, but stocks are likely to rise if the two sides are able to strike even a very general agreement.

The S&P 500 index rose 8.75 points, or 0.3 percent, to 2,682.20. The index jumped 1.6 percent Monday. The Dow Jones Industrial Average added 108.49 points, or 0.4 percent, to 24,748.73. The Nasdaq composite inched up 0.85 points to 7,082.80 after surging 2.1 percent a day earlier.

With two months of volatility on investors' minds and more likely to come, Wall Street gravitated toward safer, high-dividend communications, utility and consumer goods companies. Verizon gained 2.5 percent to $60.65, Public Service Enterprise Group climbed 1.5 percent to $54.29 and cigarette maker Altria Group rose 1.1 percent to $53.79 as tobacco companies recovered some of their recent losses.

Smaller companies, especially in heavy industry and retail, took steeper losses. The Russell 2000 index of smaller-company stocks slid 13.10 points, or 0.9 percent, to 1,492.86.

Those companies made big gains at the end of 2017, when Republicans passed a corporate tax cut. The Russell 2000 set a record high in late August but is now down 2.8 percent for the year.

"Later in the (economic) cycle, the cost of borrowing impacts small businesses," said McMillion. "Not being able to hire the labor that they need to continue to grow could be a factor in that as well."

United Technologies said it will split into three companies now that it has finished its purchase of aviation electronics maker Rockwell Collins. The company's aerospace and defense industry business will keep the United Technologies name, while its Otis elevator business and Carrier air conditioner and building systems unit will become separate companies.

Investors weren't impressed with the company's forecasts for Rockwell Collins. United Technologies also said it doesn't expect to buy back any more of its stock during the breakup, which could take up to two years. The stock fell 4.1 percent to $122.68.

Other defense companies also dipped. Northrop Grumman fell 2.1 percent to $260.34 and Raytheon gave up 1.7 percent to $171.67.

Spirit Airlines surged 15.3 percent to $58.76 after it forecast a big jump in revenue in the fourth quarter. Investors were hopeful that other airlines might see similar gains. Delta climbed 2.8 percent to $58.31 and United Continental picked up 1.8 percent to $93.38.

Trump told the Wall Street Journal late Monday that he expects to raise tariffs on $200 billion in Chinese imports on Jan. 1. His administration recently imposed a 10 percent tax on those imports, and at the start of the year that's scheduled to rise to 25 percent. Trump also threatened again to place tariffs on all remaining U.S. imports from China.

The administration's tariffs have driven up costs for many businesses, but consumers haven't felt as much of a sting. Another round of tariffs on products like laptops and computers would change that.

Apple slipped 0.2 percent to $174.24. Its stock has fallen 25 percent since early October, wiping out about $270 billion in value and leaving Apple and Microsoft essentially tied as the most valuable publicly traded companies in the world. Microsoft edged ahead a few times during the day, but at the close of trading investors valued Apple at about $827 billion and Microsoft at $822 billion.

Microsoft rose 0.6 percent to $107.14. The company hasn't done any worse than the rest of the stock market in October and November, and for technology companies, that's been an unusually good result.

Benchmark U.S. crude fell 0.1 percent to $51.56 a barrel in New York. Brent crude, the international standard, lost 0.4 percent to $60.21 a barrel in London.

Wholesale gasoline lost 1.5 percent to $1.42 a gallon and heating oil slipped 0.4 percent to $1.89 a gallon. Natural gas edged up 0.4 percent to $4.26 per 1,000 cubic feet.

Bond prices edged higher. The yield on the 10-year Treasury note fell to 3.06 percent from 3.07 percent.

Gold fell 0.7 percent to $1,213.40 an ounce. Silver declined 0.9 percent to $14.08 an ounce. Copper sank 1.7 percent to $2.71 a pound.

The dollar edged up to 113.79 yen from 113.64 yen. The euro felt to $1.1296 from $1.1328.

Germany's DAX fell 0.4 percent and the British FTSE 100 slid 0.3 percent. In France, the CAC 40 lost 0.2 percent.

Japan's benchmark Nikkei 225 added 0.6 percent and South Korea's Kospi rose 0.8 percent. Hong Kong's Hang Seng gave up 0.3 percent.


----------



## bigdog

https://www.usnews.com/news/busines...cks-mixed-after-wobbly-trading-on-wall-street

*Stocks Surge as Powell Hints at Slower Interest Rate Hikes*
U.S. stocks made their biggest gain in eight months after Federal Reserve Chairman Jerome Powell hinted that the Fed might be willing to raise interest rates at a slower pace next year.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks rocketed to their biggest gain in eight months Wednesday after Federal Reserve Chairman Jerome Powell hinted that the Fed might not raise interest rates much further. The Dow Jones Industrial Average surged 617 points.

In a speech to the Economic Club of New York, Powell said that rates are close to "neutral," the level at which they neither hold back growth nor aid it. That might mean the Fed isn't planning to raise interest rates far above their current levels. Powell also appeared to suggest that the Fed might pause its cycle of interest rate increases next year so the central bank can assess the effects of its actions.

That relieved investors who feel the nine-year-old bull market could come to an end if rates rise too fast. Those worries have contributed to the market's big slump in October and November.

Stocks rose in morning trading and nearly tripled their gains as Powell spoke. Bond yields slipped and the dollar weakened as investors adjusted their expectations for how quickly interest rates might rise in the future.

After slashing interest rates to near zero before the 2008-09 financial crisis, the Fed has been steadily raising them since the end of 2015 and it's expected to announce another increase in December. But higher interest rates tend to slow economic growth, and since growth in the U.S. and other regions is already likely to slow down next year, investors are concerned the increases will hinder the economy.

"He's acknowledging that if you make an interest rate move today, you're not really going to feel the effects of it for 12 to 18 months," said Jack Ablin, chief investment officer of Cresset Wealth Advisors. "Global central bank tightening (of rates) was probably the biggest risk that equity investors faced over the next four quarters, so having the Fed chairman come out and suggest they're almost done is welcome news."

The S&P 500 index surged 61.61 points, or 2.3 percent, to 2,743.78, its biggest gain since March 26. The S&P 500 has gained 4.2 percent this week, but would still need to rise another 6.8 percent to return to its record high from late September.

The Dow Jones Industrial Average jumped 617.70 points, or 2.5 percent, to 25,366.43. The Nasdaq composite rose 208.89 points, or 2.9 percent, to 7,291.59. The Russell 2000 index of smaller-company stocks gained 37.53 points, or 2.5 percent, to 1,530.38.

After an initial decline, bond prices turned higher, sending yields lower. The yield on the 10-year Treasury note fell to 3.06 percent from 3.07 percent earlier in the day. It stood at 3.05 percent late Tuesday. The yield on the 2-year note steadied at 2.81 percent.

The dollar weakened, which sent metals prices higher. The ICE US dollar index lost 0.6 percent.

Customer-management software developer Salesforce surged 10.3 percent to $140.64 after its earnings and revenue were stronger than analysts expected. That helped pull technology companies higher. Software maker Adobe rose 7.3 percent to $249.21. Apple jumped 3.8 percent to $180.94 and Microsoft rose 3.7 percent to $111.12.

Tiffany skidded 11.8 percent to $92.54 after it said foreign tourists, especially from China, didn't spend as much at its stores in its latest quarter. That contributed to disappointing sales for the company. Chinese economic growth has slowed since the government clamped down on bank lending last year as part of an effort to rein in surging debt. The U.S.- China trade dispute has also contributed to the slowdown.

Jam and packaged food maker J.M. Smucker fell 7.2 percent to $101.28 after it reported a smaller profit and less revenue than analysts had expected. Smucker also lowered its forecasts for the full year.

Boeing recovered a sliver of its recent losses as investigators in Indonesia discussed their probe into the crash of a Boeing 737 MAX 8. Indonesian authorities said they are still struggling to understand why the plane crashed, but added that faulty equipment and carrier Lion Air's own safety failures had pilots fighting for control of the plane as it fell into the Java Sea on Oct. 28, killing all 189 people aboard.

The MAX is Boeing's newest plane, and questions about the crash have pulled Boeing's stock lower. The stock rose 4.9 percent to $333.50. Wednesday, but it's still down 10 percent since Nov. 8, when federal regulators gave an emergency directive telling pilots how to handle incorrect data from a sensor that may have malfunctioned during the flight. Pilots for U.S. airlines have said that they were not told about a new feature in the MAX that could pitch the nose down sharply if sensors indicate that the plane is about to stall.

The dollar fell to 113.53 yen from 113.79 yen. The euro rose to $1.1376 from $1.1296.

Benchmark U.S. crude slipped 2.5 percent to $50.29 a barrel in New York. Brent crude, the standard for international oil prices, sank 2.4 percent to $58.76 a barrel in London.

Wholesale gasoline lost 1.6 percent to $1.40 a gallon. Heating oil fell 2.5 percent to $1.84 a gallon. Natural gas rocketed 10.6 percent to $14.72 per 1,000 cubic feet.

Gold rose 0.8 percent to $1,223.60 an ounce. Silver jumped 1.7 percent to $14.33 an ounce. Copper soared 3.3 percent to $2.80 a pound.

FTSE 100 in Britain fell 0.2 percent and Germany's DAX lost 0.1 percent. France's CAC 40 was little changed.

Japan's benchmark Nikkei 225 rose 1 percent and South Korea's Kospi recovered 0.4 percent. Hong Kong's Hang Seng added 1.3 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ain-after-fed-chief-hints-rate-rises-may-slow

*Tech and Bank Stocks Dip After a Big Rally the Day Before*
US stocks finish slightly lower after an afternoon rally faded away.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks finished lower Thursday after an afternoon rally faded away. Banks and technology companies fell after the market pulled off a huge rally the day before.

Deutsche Bank dropped after German authorities raided its offices on suspicion some of its employees helped clients launder money. Financial stocks fell as interest rates again edged lower. Crude oil prices climbed after they briefly dipped under $50 a barrel overnight. The rebound helped energy stocks trade higher. Health care companies, which have climbed over the last month, continued to do better than the rest of the market.

The Federal Reserve released minutes from its meeting in early November. Officials expressed concerns about a variety of threats to the economy, including the impact of tariffs, a slowing global economy and tightening financial conditions amid falling stock prices. The assessment was in line with comments Wednesday from Federal Reserve Chairman Jerome Powell.

"That's what the Fed is trying to put out there, is they haven't gotten carried away with rate increases," said Thomas Martin, portfolio manager at Globalt Investments in Atlanta. "The market wants to see ... that they are going to be gradual."

The S&P 500 index shed 5.99 points, or 0.2 percent, to 2,737.80. The Dow Jones Industrial Average recovered from a loss of 163 points and ended down just 27.59 points, or 0.1 percent, to 25,338.84.

The Nasdaq composite slid 18.51 points, or 0.3 percent, to 7,273.08 as tech stocks dipped. Smaller companies, especially banks and industrial stocks, fared worse. The Russell 2000 index of smaller-company stocks lost 5 points, or 0.3 percent, to 1,525.39.

The S&P 500 index was coming off its largest rally in eight months and has climbed 4 percent this week. It finished at a six-month low on Friday.

Benchmark U.S. crude rose 2.3 percent to finish at $51.45 a barrel in New York. Brent crude edged up 1.3 percent to $59.51 a barrel in London.

EOG Resources rose 1.6 percent to $105.47 and Anadarko Petroleum gained 2.2 percent to $53.70. The S&P 500 index of energy companies has dropped 12 percent over the last three months, worse than any of the other major market sectors. The S&P 500 itself has fallen 6 percent over that time.

Health care stocks, meanwhile, have jumped 7 percent in the last month, about double the gains in the broader market. On Thursday drugmaker Pfizer picked up 1.4 percent to $45.51 and medical device maker Medtronic added 1.3 percent to $96.60.

Stocks rallied Wednesday after Powell suggested in a speech that the Fed might be almost done raising interest rates, and is willing to stop raising rates at least temporarily so it can assess the effects of the last few years of increases. Investors have been nervous that climbing interest rates will contribute to a damaging slowdown in economic growth. That fear is one of the major reasons behind the slide in stocks this autumn.

"In September, the feeling (in the markets) was more confident," Martin said. "Third quarter earnings reports, I think, really started to change that, and the continuing weakness of data overseas, in Europe and the rest of the world, has changed that."

Bond prices edged higher. The yield on the 10-year Treasury note fell to 3.03 percent from 3.04 percent. Banks fell as investors expected slower increases in interest rates, which reduce the profits banks make from mortgages and other types of loans. Bank of America shed 1.4 percent to $28.04 and Bank of New York Mellon slid 1.8 percent to $50.68.

Deutsche Bank stock lost 4.8 percent to $9.42. German authorities suspect that Deutsche Bank employees helped clients set up offshore companies in tax havens to launder hundreds of millions of euros. A prosecutor in Frankfurt said the investigation emerged from an analysis of documents leaked from tax havens in recent years, including the 2016 "Panama Papers."

While most health care stocks rose, medical lab operator Quest Diagnostics sank 9.3 percent to $87.94 after it cut its annual profit and revenue forecasts. The company cited a host of problems including larger reserves and reduced testing volumes. Rival LabCorp fell 2 percent to $161.81.

Qualcomm stock gained 2.6 percent to $58.11 after Qualcomm CEO Steve Mollenkopf said in an interview with CNBC that the company is close to resolving its long and costly dispute with Apple. Apple stopped making licensing fee payments to Qualcomm following a legal dispute between the companies, and later decided to stop using Qualcomm parts in some of its products.

But other technology companies fell. Intel lost 2.4 percent to $47.70. Apple slipped 0.8 percent to $179.55 and Microsoft dipped 0.8 percent to $110.19.

In other commodities trading, wholesale gasoline jumped 4.1 percent to $1.45 a gallon. Heating oil edged up 0.3 percent to $1.84 a gallon. Natural gas slipped 1.1 percent to $4.65 per 1,000 cubic feet.

Gold was little changed at $1,230.40 an ounce. Silver slipped 0.4 percent to $14.40 an ounce. Copper lost 0.9 percent to $2.79 a pound.

The dollar slid to 113.43 yen from 113.53 yen. The euro edged up to $1.1389 from $1.1376.

The FTSE 100 in Britain and the French CAC 40 both rose 0.5 percent. Germany's DAX finished little changed.

Tokyo's Nikkei 225 rose 0.4 percent and Seoul's Kospi advanced 0.3 percent while Hong Kong's Hang Seng shed 0.9 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ixed-ahead-of-trump-xi-meeting-at-g-20-summit

*Stocks Climb as Investors Hope for Trump-Xi Trade Progress*
After a shaky start, stocks finish with strong gains ahead of the highly anticipated meeting between President Donald Trump and Chinese President Xi Jinping

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks climbed again Friday as investors waited for President Donald Trump and President Xi Jinping of China to meet and discuss trade, a meeting they hope will start to resolve the nations' trade dispute. The U.S. market jumped this week after falling to a six-month low the week before.

Technology and health care companies made the largest gains Friday. Energy companies slipped as U.S. crude oil fell again, and briefly traded under $50 a barrel. The price of crude oil dropped 22 percent in November, its worst month in a decade. Hotel operator Marriott tumbled after it announced a data breach that could affect 500 million guests.

The rally this week helped the market finish with a modest gain in November, but the S&P 500 is still 5.8 percent away from the all-time high it set in late September. Among other issues, that drop reflects investors' pessimism that the U.S. and China will resolve their differences without causing damage to the global economy. They have been sparring for months over issues including China's technology policy.

"The outlook for the global economy in 2019 does depend on some peace in the trade dispute between the U.S. and China," said David Kelly, chief global strategist for JPMorgan Funds. He said global stocks will probably jump if the two leaders announce the framework of a deal and fall if they don't. In any case, he thinks the two sides will reach an agreement by early 2019.

"Nobody's got much to gain from fighting a trade war, but we both are threatened with recession," he said.

The S&P 500 index gained 22.40 points, or 0.8 percent, to 2,760.16. The Dow Jones Industrial Average rose 199.62 points, or 0.8 percent, to 25,538.46. The Nasdaq composite jumped 57.45 points, or 0.8 percent, to 7,330.54. The Russell 2000 index of smaller-company stocks added 7.88 points, or 0.5 percent, to 1,533.27.

The U.S. has announced tariffs on $250 billion in Chinese imports so far, with the tax rate on many products set to rise Jan. 1, while China put new taxes on $110 billion in U.S. goods. Investors are concerned that the lingering dispute will keep businesses from spending money. That might not change even if the nations announce a cease-fire on new tariffs or the outlines of a deal this weekend.

"There's still a long way to resolve all of the issues," said Kate Warne, an investment strategist with Edward Jones. "I suspect we'll continue to see more of the back and forth that we've seen this week, prompting further market volatility as well as greater uncertainty."

Among technology companies, Intel gained 3.4 percent to $49.31 and Nvidia climbed 3.9 percent to $163.43. Microsoft rose 0.6 percent to $110.89. Apple lost 0.5 percent to $178.58, which meant Microsoft surpassed Apple as the world's most valuable publicly traded company. Microsoft's current market value is $851.2 billion to $847.4 billion for Apple. Amazon isn't far behind, at $826.4 billion.

Microsoft was the world's most valuable publicly traded company during the dot-com boom, but hadn't held the title since 2000. Apple became No. 1 earlier this decade, when it surpassed Exxon Mobil.

Health care companies climbed as well. Biotech drugmaker AbbVie rose 4.8 percent to $94.27 after it said Pfizer agreed to wait until November 2023 before it starts selling a generic version of AbbVie's inflammatory disease drug Humira in the U.S. The agreement is part of a licensing deal between the companies. Humira is the biggest-selling drug in the world by revenue, and it's responsible for about two-thirds of AbbVie's total sales.

Other biotech drugmakers also traded higher. Gilead Sciences rallied 3.2 percent to $71.94 and Amgen rose 2.9 percent to $208.25.

Bond prices rose further. The yield on the 10-year Treasury note fell to 3 percent, its lowest since mid-September, from 3.03 percent.

Marriott said the Starwood data beach began in 2014 and ended in September 2018. It bought Starwood in 2016. The company said the credit card information of some guests may have been taken, along with other personal details. The affected brands include W Hotels, St. Regis, Sheraton, Westin, Element, Aloft, The Luxury Collection, Le Méridien and Four Points.

The Attorney General of New York said she is opening an investigation into the breach. Marriott stock lost 5.6 percent to $115.03.

Benchmark U.S. crude fell more than 3 percent in morning trading and briefly slipped below $50 a barrel. It closed down 1 percent at $50.93 a barrel in New York. Brent crude lost 1.3 percent to $58.71 a barrel in London.

Oil prices have been falling since early October as supplies have built up, partly because the U.S. agreed to hold off on sanctions for countries that import oil from Iran. Investors are also worried that a slowdown in global economic growth will reduce demand for fuels.

The dollar rose to 113.61 yen from 113.43 yen. The euro fell to $1.1309 from $1.1389.

Gold lost 0.4 percent to $1,226 an ounce. Silver fell 1.3 percent to $14.22 an ounce. Copper held steady at $2.79 a pound.

Wholesale gasoline lost 0.9 percent to $1.44 a gallon. Heating oil was little changed at $1.85 a gallon. Natural gas fell 0.7 percent to $4.61 per 1,000 cubic feet.

The FTSE 100 index in Britain shed 0.8 percent and Germany's DAX lost 0.4 percent. France's CAC 40 fell less than 0.1 percent.

Japan's Nikkei 225 index climbed 0.4 percent and the Hang Seng in Hong Kong added 0.2 percent. South Korea's Kospi fell 0.8 percent.

7715


----------



## bigdog

*GREAT TO SEE SEA OF GREEN*





https://www.usnews.com/news/busines...ance-in-asia-following-xi-trump-tariffs-truce

*US-China Trade Truce Sends US Stocks Solidly Higher*
US stocks closed solidly higher after the US and China agreed to a 90-day truce in their trade dispute.

By ALEX VEIGA, AP Business Writer

A welcome truce in the escalating U.S.-China trade dispute put investors in a buying mood Monday, sending U.S. stocks solidly higher and extending the market's gains from last week.

The broad rally, which lost some of its early morning momentum, followed gains in overseas markets as investors welcomed news of the temporary, 90-day stand-down, which was agreed to over dinner between President Donald Trump and his Chinese counterpart Xi Jinping at the G-20 summit over the weekend.

The long-running dispute between the world's two largest economies has rattled investors for months, stoking traders' fears that it could begin dragging down corporate profits and weighing on global economic growth.

"We're going to have to see what happens over these 90 days," said Tom Martin, senior portfolio manager at Globalt Investments. "In the meantime, you're not getting an increase in the tariffs, so that's an interim positive."

The encouraging development on trade helped extend a swift turnaround for the market, which notched its biggest weekly gain in nearly seven years last week after Fed Chairman Jerome Powell indicated the central bank might consider a pause in rate hikes next year while it gauges the impact of its credit tightening program.

Technology stocks, automakers, retailers and industrial companies accounted for much of the market's gains Monday, offsetting losses in household goods makers. Energy stocks also climbed as U.S. crude oil prices rose sharply.

U.S. traders observed a moment of silence before markets opened Monday in honor of former President George H.W. Bush, who died Friday at 94. The New York Stock Exchange and Nasdaq said they will close trading Wednesday in observance of a national day of mourning for Bush. The federal government will also be closed.

The S&P 500 index climbed 30.20 points, or 1.1 percent, to 2,790.37. The benchmark index vaulted 4.9 percent last week. The Dow Jones Industrial Average jumped 287.97 points, or 1.1 percent, to 25,826.43. The average was up as much as 441 points earlier.

The Nasdaq composite rose 110.98 points, or 1.5 percent, to 7,441.51. The Russell 2000 index of smaller-company stocks picked up 15.69 points, or 1 percent, to 1,548.96.

Markets in Europe also finished higher. Germany's DAX gained 1.8 percent, while France's CAC 40 rose 1 percent. Britain's FTSE 100 added 1.2 percent.

After a steep decline in October, U.S. stocks steadied in early November. But the selling picked up again as investors abandoned high-flying technology stocks amid concerns over the U.S.-China trade tussle and slowing global economic growth and bailed on energy stocks as the price of oil plummeted.

Presidents Trump and Xi of China met at the G-20 summit over the weekend and agreed to a cease-fire, lasting for at least 90 days, to allow time to smooth out a dispute over Chinese technology policies that the U.S. and other trading partners consider predatory.

Trump agreed to hold off on plans to raise tariffs on $200 billion in Chinese goods, which were supposed to kick in on Jan. 1. In return, Xi agreed to buy a "very substantial amount" of agricultural, energy and industrial products from the U.S. to reduce its large trade deficit with China, the White House said.

The U.S. had announced tariffs on $250 billion in Chinese imports this year, with the tax rate on many products set to rise Jan. 1, while China put new taxes on $110 billion in U.S. goods.

While the truce has the potential to steady markets through the end of the year, the countries still need to hammer out a lasting trade deal.

"Three months is not a very long time to achieve this so there are naturally plenty of sceptics out there but this is a rare piece of good news in a conflict that has yet to produce any," said Craig Erlam, senior market analyst at OANDA.

The trade truce was one of several factors that helped push oil prices higher Monday. Crude prices also jumped on news that Qatar will withdraw from OPEC in January. The move, which marks the first time a Mideast nation has exited the cartel since its founding in 1960, came ahead of an OPEC meeting on Thursday.

In addition, the government of the Canadian province of Alberta announced a large cut in oil production Monday.

"We expect OPEC to follow suit and agree to a production cut in Vienna this coming Thursday," analysts with Goldman Sachs wrote in a published note Monday.

Benchmark U.S. crude gained 4 percent to settle at $52.95 per barrel in New York. Brent crude, the international standard, rose 3.8 percent to close at $61.69 per barrel in London.

Oil prices had been falling in recent weeks as supplies built up, partly because the U.S. agreed to hold off on sanctions for countries that import oil from Iran. Traders have also been worried that a slowdown in global economic growth will reduce demand for fuels.

Monday's pickup in oil prices gave energy stocks a boost. Devon Energy climbed 6.4 percent to $28.77.

Gains in technology companies helped drive the market higher. Chipmaker Advanced Micro Devices jumped 11.3 percent to $23.71.

Auto manufacturers also rose after Trump said on Twitter late Sunday that Beijing agreed to cut import duties on U.S. autos. There was no Chinese confirmation of the move, which would have little impact on trade because most American vehicles sold in China are made there.

Ford Motor rose 2 percent to $9.60, while General Motors added 1.3 percent to $38.45. Tesla gained 2.3 percent to $358.49.

A couple of corporate deals also helped move the market Monday.

Tribune Media jumped 11.7 percent to $44.98 after the TV station owner agreed to be acquired by Nexstar Media Group, four months after a bid from Sinclair Broadcast Group collapsed. Nextar shares added 6.9 percent to $88.32.

GlaxoSmithKline PLC slumped 7.8 percent to $38.61 after the drugmaker agreed to acquire Tesaro, which makes the ovarian cancer treatment Zejula. Shares in Tesaro soared 58.5 percent to $73.50.

Meanwhile, Wynn Resorts gained 9.5 percent to $119.79 after the gambling revenue in Macau rose last month at a higher rate than analysts expected.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.97 percent from 3.01 percent late Friday.

The dollar rose to 113.69 yen from 113.63 yen late Friday. The euro strengthened to $1.1342 from $1.1309.

Gold gained 1.1 percent to $1,239.60 an ounce. Silver jumped 2 percent to $14.50 an ounce. Copper added 0.8 percent to $2.81 a pound.


----------



## bigdog

*NOT AT ALL LOOKING GOOD FOR TODAY*

*Wednesday closure of U.S. stock and bond markets in observance of a national day of mourning for former President George H.W. Bush.*






https://www.usnews.com/news/busines...all-dollar-slips-after-us-china-tariffs-truce

*Renewed Jitters Over Trade Send Stocks, Bond Yields Lower*
Stocks slumped on Wall Street Tuesday as traders worried that the U.S. and China made less progress than originally thought on defusing their dispute over trade.

By ALEX VEIGA, AP Business Writer

Stocks slumped on Wall Street Tuesday as traders worried that the U.S. and China made less progress than originally thought on defusing their dispute over trade. Bond prices surged, sending yields sharply lower as investors turned to lower-risk assets.

The Dow Jones Industrial Average fell nearly 800 points and the yield on the benchmark 10-year Treasury note declined to its lowest level in three months.

The wave of selling erased the market's gains from a day earlier, when stocks rallied after the administration said U.S. and China agreed to a temporary truce in their trade dispute. Investors' confidence in that truce faltered Tuesday, contributing to renewed fears that the disagreement between the two economic powerhouses could slow the global economy.

"This trade issue is the big overhang, the biggest ceiling, if you will, to keeping the markets from moving higher," said Randy Frederick, vice president of trading & derivatives at Charles Schwab.

Technology companies, banks and industrial stocks accounted for much of the broad sell-off. Utilities stocks rose. Smaller-company stocks fell more than the rest of the market.

Big losses for Boeing and Caterpillar, major exporters which would stand to lose much if trade tensions persist, weighed on the Dow.

The bond market signaled its concerns as the gap between two-year and 10-year Treasurys reached its narrowest difference since 2007. The 10-year yield is still higher, but not by much.

When yields for long-term bonds drop lower than yields for short-term bonds, it's what economists call an "inverted yield curve." It indicates that investors are forecasting a weaker economy and inflation in coming years. An inverted yield curve has also preceded each recession of the last 60 years, though sometimes by more than a year.

"You have the drop in bond yields and the implications on growth going forward," said Willie Delwiche, investment strategist at Baird. "The bigger issue is you have this unwind from yesterday's rally."

The S&P 500 index slid 90.31 points, or 3.2 percent, to 2,700.06. The Dow plunged 799.36 points, or 3.1 percent, to 25,027.07, more than erasing its 488-point gain over the previous two trading days. It was down as much as 818 points earlier.

The technology-heavy Nasdaq composite lost 283.09 points, or 3.8 percent, to 7,158.43.

Small-company stocks, which investors see as more risky than large multinationals, fell more than the rest of the market. The Russell 2000 index gave up 68.20 points, or 4.4 percent, to 1,480.76.

The sell-off came ahead of Wednesday's closure of U.S. stock and bond markets in observance of a national day of mourning for former President George H.W. Bush.

The sharp turn in the markets followed a strong rally on Monday fueled by optimism over the news that President Donald Trump and his Chinese counterpart Xi Jinping had agreed at the G-20 summit over the weekend to a temporary, 90-day stand-down in the two nations' escalating trade dispute.

But the market's optimism faded Tuesday amid published reports questioning the scant details out of the Trump-Xi talks and growing skepticism that Beijing will yield to U.S. demands anytime soon.

"The actual amount of concrete progress made at this meeting appears to have been quite limited," Alec Phillips and other economists at Goldman Sachs wrote in a research note.

Delwiche echoed those doubts.

"The sense is that there's less and less agreement between the two sides about what actually took place," Delwiche said. "There was a rally in the expectation that something had happened, the problem is that something turned out to be nothing."

Moody's Investors Service suggested in a report Tuesday that despite the latest U.S.-China talks, both countries remain far from resolving their dispute.

"Narrow agreements and modest concessions in their ongoing trade dispute will not bridge the wide gulf in their respective economic, political and strategic interests," Moody's analysts wrote.

The trade dispute has rattled markets in recent months as signs emerged that it has begun affecting corporate profits. That's stoked traders' fears that if it drags much longer it could further weigh on global economic growth.

"There are plenty of reasons to believe that growth in either the economy or the markets is going to soften next year," Frederick said.

The jitters helped drive demand for government bonds Tuesday, pushing prices higher. The yield on the 10-year Treasury note fell to 2.91 percent from 2.99 percent late Monday, a large move. The slide in bond yields, which affect interest rates on mortgages and other consumer loans, weighed on bank stocks. Citigroup fell 4.5 percent to $62.26.

Chipmakers were among the biggest decliners in a technology sector slide. Advanced Micro Devices dropped 10.9 percent to $21.12, while Micron Technology lost 7.9 percent to $36.88.

Homebuilders fell after luxury homebuilder Toll Brothers issued a cautious assessment of the housing market. Toll's shares slid 1.6 percent to $32.99.

Apple lost 4.4 percent to $176.69 after the consumer electronics giant was downgraded by HSBC analysts, citing the possibility that iPhone volume and value growth may moderate due to a saturated mobile phone market.

United Parcel Service slumped 7.4 percent to $106.77 and FedEx dropped 6.3 percent to $215.52. Morgan Stanley analysts said in a note that the market was underestimating the challenge those companies would face from Amazon Air.

Oil prices rose ahead of an OPEC meeting on Thursday, where members are expected to agree to cut output in 2019. Benchmark U.S. crude gained 0.6 percent to settle at $53.25 per barrel in New York. Brent crude, the international standard, added 0.6 percent to close at $62.08 per barrel in London.

The dollar weakened to 112.82 yen from 113.69 yen late Monday. The euro was little changed at $1.1342. The British pound fell to $1.2716 from $1.2728.

Gold gained 0.6 percent to $1,246.60 an ounce. Silver rose 1 percent to $14.64 an ounce. Copper fell 1.8 percent to $2.78 a pound.

Wholesale gasoline gained 0.8 percent to $1.44 a gallon. Heating oil climbed 0.7 percent to $1.90 a gallon. Natural gas picked up 2.7 percent to $4.46 per 1,000 cubic feet.

Overseas, Germany's DAX lost 1.1 percent, while France's CAC 40 dropped 0.8 percent. The FTSE 100 index of leading British shares slid 0.6 percent.

Japan's Nikkei 225 index gave up 2.4 percent and the Kospi in South Korea lost 0.8 percent. Hong Kong's Hang Seng added 0.3 percent.


----------



## bigdog

*SEA OF RED

Wednesday U.S. stock and bond markets CLOSED in observance of a national day of mourning for former President George H.W. Bush.*





*Rest of World*









https://www.usnews.com/news/business/articles/2018-12-05/asia-shares-sink-after-wall-street-sell-off

*Global Shares Slip on Doubts Over US-China Trade Deal*
Global stock prices have fallen, though not as much as Wall Street the day before, amid doubts about a U.S.-China tariff cease-fire.

By JOE McDONALD, AP Business Writer

BEIJING (AP) — Global stock prices fell Wednesday, though not as much as Wall Street the day before, amid confusion about what the U.S. and China agreed to in a tariff cease-fire.

KEEPING SCORE: In Europe, London's FTSE 100 index fell 1.4 percent to close at 6,921.84 and German's DAX lost 1.2 percent to 11,200.24. France's CAC 40 retreated 1.4 percent to 4,944.37. U.S. stock trading was closed to mourn the death of former President George H.W. Bush.

ASIA'S DAY: Hong Kong's Hang Seng index fell 1.6 percent to 26,819.58 and the Shanghai Composite Index declined 0.6 percent to 2,649.81. Tokyo's Nikkei 225 lost 0.5 percent to 21,919.33 and Sydney's S&P-ASX 200 shed 0.8 percent to 5,668.40. Seoul's Kospi gave up 0.8 percent to 2,101.31 and India's Sensex was 0.6 percent lower at 35,902.74.

TRADE QUESTIONS: Investor confidence in the U.S.-China agreement faltered after confusing and conflicting comments from President Donald Trump and some senior officials. That revived fears the disagreement between the world's two biggest economies could slow global growth. Trump previously said the agreement would lead to sales of American farm goods and cuts in Chinese auto tariffs, but Beijing has yet to confirm that. Trump renewed threats of tariff hikes on Tuesday, saying on Twitter that Washington would have a "real deal" with China or else would charge "major tariffs" on Chinese goods. That cast further doubt on the weekend agreement.

FED WATCH: Markets also got a jolt from remarks by the president of the Fed's New York regional bank. John Williams said that given his outlook for strong economic growth, he expects "further gradual increases in interest rates will best sponsor a sustained economic expansion." That seemed to counter Fed Chairman Jay Powell's remarks last week. The jitters helped drive demand for government bonds. The yield on the 10-year Treasury note fell to 2.91 percent from 2.99 percent late Monday, a large move.

ANALYST'S TAKE: "Positive sentiment from the China-U.S. trade war truce dissipated quickly," Eugene Leow and Radhika Rao of DBS Group said in a report. "Questions on trade, worries about U.S. growth and perceived dovishness on the Fed all play a part in explaining these market moves. Concerns were also compounded by increasing news narrative on inverted curves and risks of a recession."

ENERGY: Benchmark U.S. crude fell 0.7 percent to settle at $52.89 per barrel in New York. Brent crude, used to price international oils, declined 0.8 percent to close at $61.56 per barrel in London.

Representatives of oil-producing nations will hold a highly anticipated meeting Thursday in Vienna, with analysts predicting that they will agree on a cut of at least 1 million barrels a day in an effort to bolster prices.

Russian President Vladimir Putin boosted expectations for a deal when he said at the G20 summit over last weekend that Russia and Saudi Arabia have agreed to extend an attempt by OPEC to balance oil supply and demand, although he provided no figures.

Crude prices began falling in October and continued to plunge last month due to oversupply and fears that weaker global economic growth would dampen energy demand.

In other energy futures trading Wednesday, wholesale gasoline added 0.2 percent to $1.45 a gallon. Heating oil slid 0.6 percent to $1.89 a gallon. Natural gas picked up 0.3 percent to $4.47 per 1,000 cubic feet.

CURRENCY: The dollar gained to 113.19 yen from Wednesday's 112.82 yen. The euro held steady at $1.1342.

METALS: Gold fell 0.3 percent to $1,242.60 an ounce. Silver slid 0.4 percent to $14.58 an ounce. Copper added 0.5 percent to $2.77 a pound.


----------



## bigdog

U.S. stocks clawed most of their way back from a deep slide Thursday that at one point had wiped out the market's gains for the year.

The sell-off eased by late afternoon, however, after The Wall Street Journal reported that said the Federal Reserve is considering breaking with its current approach of steady interest rate hikes, favoring a wait-and-see approach. That was relief to investors worried that the Fed might raise interest rates too fast, which could choke off economic growth






https://www.usnews.com/news/busines...id-as-huawei-cfo-arrest-revives-trade-jitters

*US Stocks Claw Back From an Early Plunge on Fed Report*
U.S. stocks clawed most of their way back from a deep slide Thursday that at one point had wiped out the market's gains for the year.

By ALEX VEIGA, AP Business Writer

U.S. stocks clawed most of their way back from a deep slide Thursday that at one point had wiped out the market's gains for the year.

An early plunge briefly knocked more than 700 points off the Dow Jones Industrial Average as the arrest of a senior Chinese technology executive threatened to cause another flare-up in tensions between Washington and Beijing.

The sell-off eased by late afternoon, however, after The Wall Street Journal reported that said the Federal Reserve is considering breaking with its current approach of steady interest rate hikes, favoring a wait-and-see approach. That was relief to investors worried that the Fed might raise interest rates too fast, which could choke off economic growth.

"The Fed is trying to, in essence, come out and make it clear they are not on a rigid schedule of rate hikes next year," said Quincy Krosby, chief market strategist at Prudential Financial.

The S&P 500 index fell 4.11 points, or 0.2 percent, to 2,695.95. The benchmark index had been down as much as 2.9 percent.

The Dow dropped 79.40 points, or 0.3 percent, to 24,947.67. The average briefly slumped as much as 784 points.

The technology-heavy Nasdaq composite reversed an early loss to finish with a gain, adding 29.83 points, or 0.4 percent, to 7,188.26.

The Russell 2000 index of small-company stocks gave up 3.34 points, or 0.2 percent, to 1,477.41.

Traders continued to shovel money into bonds, a signal that they see weakness in the economy ahead. The yield on the 10-year Treasury note fell to 2.89 percent from 2.92 percent on Tuesday, a large move.

U.S. stock and bond trading were closed Wednesday because of a national day of mourning for President George H.W. Bush.

Losses in banks and energy and industrial stocks outweighed gains in internet and real estate companies.

Citigroup fell 3.5 percent to $60.06. Halliburton slid 4.7 percent to $29.79. Discovery climbed 4.7 percent to $26.99.

Last week, stocks jumped after Fed Chairman Jerome Powell indicated the central bank might consider a pause in rate hikes next year while it gauges the impact of its credit tightening program.

The Fed has raised rates three times this year and is expected to boost rates for a fourth time at its Dec. 18-19 meeting of policymakers. That steady pace of rate hikes has begun to worry some investors amid growing signs that some sectors of the economy are hurting, including U.S. home sales. At the same time, there has been growing evidence that the global economic growth is slowing.

"The market seems right now to be focused on increased risks for a 2020 recession," said Patrick Schaffer, Global Investment Specialist, J.P. Morgan Private Bank. "It's a very hard market to buy when you see really strong signals that we are indeed late (in the economic) cycle."

Thursday's initial wave of selling in the market came about as traders reacted to the news that Canadian authorities arrested the chief financial officer of China's Huawei Technologies on Wednesday for possible extradition to the U.S. The Globe and Mail newspaper, citing law enforcement sources, said Meng is suspected of trying to evade U.S. trade curbs on Iran.

Meng is a prominent member of Chinese society as deputy chairman of the board and the daughter of company founder Ren Zhengfei. China has demanded Meng's immediate release.

The arrest came less than a week after President Donald Trump met with Chinese President Xi Jinping at the G-20 summit in Argentina.

Markets rallied on Monday on news that Trump and Xi agreed to a temporary, 90-day stand-down in their trade dispute. That optimism quickly faded as skepticism grew that Beijing will yield to U.S. demands anytime soon, leading to a steep sell-off in global markets on Tuesday.

On Thursday, China's government said it would promptly carry out the tariff cease-fire with Washington. It also expressed confidence that the two nations can reach a trade agreement. The remarks suggest Beijing wants to avoid disruptions from Meng's arrest.

Even so, investors remained skeptical.

"Trade tensions aren't going away," Schaffer said. "Contradictory statements from the administration have given some people a little bit of pause with respect to the optimism that people felt following the Argentina G-20 conference."

The renewed jitters over the implications that Meng's arrest could have on U.S.-China trade negotiations weighed on overseas markets.

Major indexes overseas also fell sharply. The DAX in Germany dropped 3.5 percent, while France's CAC 40 lost 3.3 percent. The FTSE 100 in Britain declined 3.1 percent, its biggest drop since the country held a vote to leave the European Union in June 2016.

The news also resulted in another down day for markets in Asia.

Hong Kong's Hang Seng index tumbled 2.5 percent and Japan's benchmark Nikkei 225 fell 1.9 percent. Australia's S&P/ASX 200 lost 0.2 percent, while South Korea's Kospi sank 1.6 percent. Shares also fell in Taiwan and all other regional markets.

Oil prices fell sharply as traders appeared to doubt that an expected production cut by OPEC will be enough to boost the price of crude.

OPEC countries gathered in Vienna Thursday to find a way to support the falling price of oil. Analysts predicted the cartel and some key allies, like Russia, would agree to cut production by at least 1 million barrels per day. OPEC heavyweight Saudi Arabia indicated it was in favor of such a cut.

The expectation did not keep the price of oil from falling, however, as investors focused on the potential economic disruption from any escalation in the U.S.-China trade dispute.

Benchmark U.S. crude dropped 2.6 percent to settle at $51.49 a barrel in New York. Brent crude, used to price international oils, slid 2.4 percent to close at $60.06 per barrel.

The dollar weakened to 112.65 yen from 113.19 yen late Wednesday. The euro rose to $1.1373 from $1.1342.

Gold gained 0.1 percent to $1,243.60 an ounce. Silver fell 0.5 percent to $14.51 an ounce. Copper dropped 1.1 percent to $2.74 a pound.

In other commodities trading, wholesale gasoline lost 0.8 percent to $1.43 a gallon. Heating oil gave up 1.6 percent to $1.86 a gallon. Natural gas slid 3.2 percent to $4.33 per 1,000 cubic feet.


----------



## bigdog

https://www.usnews.com/news/busines...es-steady-as-beijing-calms-us-china-trade-row

*Stocks Drop 4 Percent in Rocky Week on Trade, Growth Worries*
Wall Street capped a turbulent week of trading Friday with the biggest weekly loss for the U.S. stock market in nearly nine months.

By ALEX VEIGA, AP Business Writer

Wall Street capped a turbulent week of trading Friday with the biggest weekly loss since March as traders fret over rising trade tensions between Washington and Beijing and signals of slower economic growth.

The latest wave of selling erased more than 550 points from the Dow Jones Industrial Average, bringing its three-day loss to more than 1,400. For the week, major indexes are down more than 4 percent.

Worries that the testy U.S.-China trade dispute and higher interest rates will slow the economy has made investors uneasy, leading to volatile swings in the market from one day to the next.

On Monday, news that the U.S. and China had agreed to a 90-day truce in their escalating trade conflict drove stocks sharply higher, adding to strong gains the week before. The next day, as doubts mounted over the likelihood of a swift resolution to the trade dispute, stocks sank. On Friday, another early rally faded into another sharp drop.

"We're in a market where investors just want to sell any upside that they see," said Lindsey Bell, investment strategist at CFRA. "The volatility we've seen the last couple of weeks has been pretty extreme in both directions."

The S&P 500 index fell 62.87 points, or 2.3 percent, to 2,633.08. The index has ended lower three out of the last four weeks. The Dow dropped 558.72 points, or 2.2 percent, to 24,388.95.

The Nasdaq composite slid 219.01 points, or 3 percent, to 6,969.25. The Russell 2000 index of small-company stocks gave up 29.32 points, or 2 percent, to 1,448.09.

The S&P 500 and Dow are now in the red for the year again. The Nasdaq was holding on to a modest gain.

Volatility has gripped the market since early October, reflecting investors' worries that the Federal Reserve might overshoot with its campaign of rate increases and hurt U.S. economic growth.

Traders also fear that a prolonged trade dispute between the U.S. and China could crimp corporate profits and that tariffs will raises costs for businesses and consumers. Uncertainty over those issues helped drive the market's sell-off this week.

"The Fed has taken the punch bowl away in getting back to rates where they are today," said Doug Cote, chief market strategist for Voya Investment Management. "We're also going to get back to more normal volatility."

At the same time, traders are also worried about a sharp drop in long-term bond yields as investors plow money into Treasurys, which tends to happen when investors expect slower economic growth.

Technology stocks accounted for much of the market's broad slide Friday. Chipmaker Advanced Micro Devices slid 8.6 percent to $19.46.

Health care sector stocks, the biggest gainer in the S&P 500 this year, took some of the heaviest losses. Medical device company Cooper lost 12.3 percent to $243.01.

Utilities, which investors favor when they're fearful, eked out a slight gain. PPL Corp. gained 2.8 percent to $31.09.

Oil prices rose after OPEC countries agreed to reduce global oil production by 1.2 million barrels a day for six months, beginning in January. The move would include a reduction of 800,000 barrels per day from OPEC countries and 400,000 barrels per day from Russia and other non-OPEC nations.

The news, which had been widely anticipated, pushed crude oil prices higher. U.S. benchmark crude rose 2.2 percent to $52.61 a barrel in New York. Brent crude, used to price international oils, gained 2.7 percent to $61.67 a barrel in London.

The Labor Department said U.S. employers added 155,000 jobs in November, a slowdown from recent months but enough to suggest that the economy is expanding at a solid pace despite sharp gyrations in the stock market. The unemployment rate remained at 3.7 percent, nearly a five-decade low, for the third straight month.

Bond prices rose, sending yields slightly lower. The yield on the 10-year Treasury fell to 2.86 percent from 2.87 percent late Thursday.

The decline in bond yields, which affect interest rates on mortgages and other consumer loans, weighed on banks, which make more money when rates are rising. Morgan Stanley slid 3 percent to $41.32.

The dollar rose to 112.66 yen from 112.65 yen late Thursday. The euro strengthened to $1.1418 from $1.1373.

Gold gained 0.7 percent to $1,252.60 an ounce. Silver climbed 1.3 percent to $14.70 an ounce. Copper added 0.6 percent to $2.76 a pound.

In other commodities trading, wholesale gasoline climbed 3.7 percent to $1.49 a gallon. Heating oil rose 1.5 percent to $1.89 a gallon. Natural gas gained 3.7 percent to $4.49 per 1,000 cubic feet.

In Europe, Germany's DAX dipped 0.2 percent while the CAC 40 in France rose 0.7 percent. Britain's FTSE 100 jumped 1.1 percent. Major indexes in Asia finished mostly higher.

Japan's benchmark Nikkei 225 added 0.8 percent and Australia's S&P/ASX 200 gained 0.4 percent. South Korea's Kospi rose 0.3 percent. Hong Kong's Hang Seng gave up 0.3 percent.

8190


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## Darc Knight

Love the week's summary Bigdog, thanks.


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## bigdog

*THE Australian share market slumped to a two-year low yesterday, weighed down by the major banks as hopes for a trade resolution between the US and China dissipated.*

The benchmark ASX 200 index closed down 129 points, or 2.3 per cent, at 5552.5, while the broader All Ordinaries fell 2.2 per cent to 5627.5.

CommSec market analyst James Tao said there was now “less certainty” about the likely impact of a truce proposed in recent weeks by US President Donald Trump and his Chinese counterpart, Xi Jinping, in their trade stoush.

The key Wall Street indices had fallen heavily overnight Friday, with technology stocks among those taking big hits.

Our market followed suit yesterday. Shares in consumer credit provider Afterpay Touch tumbled 5.7 per cent to $11.97, while logistics software group Wisetech Global lost 4.8 per cent to $17.35.

Financials were the heaviest drag. ANZ suffered the biggest loss of the big four banks, down 4.2 per cent to $24.64, while Westpac fell 3.4 per cent to $24.86.

The Commonwealth Bank dropped 3 per cent to $68.27 and National Australia Bank slipped 2.5 per cent to $23.39.

Among other financial services companies, investment bank Macquarie fell 3 per cent to $109.89.

Elsewhere, Telstra fell 1.3 per cent, or 4c, to $3.04. It came after the telco bought the lion’s share of lots that were on offer in a government auction of spectrum that will be used for 5G mobile services. Telstra will pay $386 million for its lots.


*The Dow Jones Industrial Average lost as much as 507 points in early trading before ending with a gain of 34.

The Americans will pay or be taxed extra for the tariffs on Chinese imports*






https://www.usnews.com/news/busines...-fall-as-huawei-arrest-risks-china-us-fallout

*Stocks Struggle Higher as Markets Remain Volatile; Oil Drops*
US stocks recover from steep early losses as technology companies climb but banks and energy companies slip.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks remained volatile Monday as the market took a dive in early trading only to erase those losses later and end slightly higher.

The Dow Jones Industrial Average lost as much as 507 points in early trading before ending with a gain of 34.

Energy companies fell as the price of crude oil dropped 3 percent, giving back its gains from last week. Banks fell as investors expected slower increases in interest rates.

Technology companies led the gainers. Qualcomm rose after the chipmaker said a Chinese court banned some Apple phones as part of a long-running dispute over patents.

Weak economic data in China and Japan and uncertainty over Britain's status in the European Union knocked down overseas indexes. The British pound dropped to its lowest level in more 18 months after Prime Minister Theresa May postponed a vote on the country's departure from the European Union.

Tensions between the U.S. and China kept climbing following the detention of Huawei Chief Financial Officer Meng Wanzhou. She is suspected of trying to evade U.S. trade curbs on Iran, and she was detained while changing planes in Canada.

China summoned both the U.S. and Canadian ambassadors to meetings over the weekend and protested her arrest. Meng's arrest has jolted the stock market.

"It's a source of great anger for China that this could happen," said Kristina Hooper, chief global market strategist for Invesco. "China is looking for retaliation, and the most appropriate place for retaliation would be in trade negotiations with the U.S."

The S&P 500 index gained 4.64 points, or 0.2 percent, to 2,637.72. The Dow added 34.31 points, or 0.1 percent, to 24,423.26. Technology companies, which have fallen sharply since October, did better. The Nasdaq composite rose 51.27 points, or 0.7 percent, to 7,020.52.

The Russell 2000 index of smaller-company stocks dipped 4.99 points, or 0.3 percent, to 1,443.09.

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U.S. indexes have been lurching up and down since October, mostly down. The S&P 500 plunged 4.6 percent last week for its biggest loss in more than eight months as investors felt the U.S. and China are still nowhere close to ending their trade dispute.

Volatility has been high not only week to week but also minute to minute. The S&P 500 zoomed from a gain of 0.2 percent to a loss of 1.8 percent Monday morning.

Technology companies ended higher. Microsoft climbed 2.6 percent to $107.59 and Qualcomm added 2.2 percent to $57.24. Broadcom jumped 4.7 percent to $239.25.

Crude oil resumed a steep decline that began in early October. Benchmark U.S. crude fell 3.1 percent to $51 per barrel in New York. Brent crude, the international standard, lost 2.8 percent to $59.97 a barrel in London.

Prices steadied last week after OPEC and other major oil producers said they will reduce production by 1.2 million barrels a day starting from January. The cuts will last for six months.

Energy stocks took dipped. Exxon Mobil lost 1.4 percent to $76.54 and Schlumberger shed 2.5 percent to $41.97.

Bond prices ended slightly lower. The yield on the 10-year Treasury slipped early on, but later rose to 2.86 percent from 2.85 percent late Friday. The 10-year yield spiked to a seven-year high in early November and has fallen sharply since then.

Hooper, of Invesco, said stocks have bounced back from their early losses because Wall Street thinks the Fed might react to the trade turmoil by raising interest rates at a slower pace.

"There are certainly some bargain hunters at work today, but more than that is the growing recognition that we could see the Fed take its foot off the accelerator," she said. "That could be a source of momentum, a positive force for markets."

Lower interest rates harm banks, however, because they reduce profits from lending. Bank of America sank 2.6 percent to $24.76 and JPMorgan Chase lost 1.9 percent to $101.36.

Britain's May postponed a vote on her deal for Britain to exit the European Union, which had been scheduled for Tuesday. She acknowledged that she would have lost the vote by a significant margin.

The pound sank to $1.2557, down from $1.2751 late Friday. The FTSE 100 stock index fell 0.8 percent. That was better than many other European indexes, as the falling pound helped British exporters.

In Europe, investors bought bonds and sold stocks. Germany's DAX lost 1.5 percent, and the CAC 40 in France declined 1.4 percent.

Japan's benchmark Nikkei 225 slid 2.1 percent, South Korea's Kospi fell 1.1 percent and Hong Kong's Hang Seng shed 1.2 percent.

Revised data showed the Japanese economy shrank by 2.5 percent in the third quarter, a larger decline than analysts expected. Chinese imports and exports climbed at a much slower pace in November than they had in October.

In other commodities trading, wholesale gasoline fell 4.5 percent to $1.42 a gallon. Heating oil skidded 2.2 percent to $1.84 a gallon. Natural gas rose 1.3 percent to $4.55 per 1,000 cubic feet.

Gold slipped 0.3 percent to $1,249.40 an ounce. Silver lost 0.6 percent to $14.61 an ounce. Copper slid 1.4 percent to $2.72 a pound.

The dollar rose to 113.21 Japanese yen from 112.64 yen late Friday. The euro slipped to $1.1353 from $1.1422.


----------



## bigdog

https://www.usnews.com/news/busines...mixed-on-concerns-over-trade-economic-outlook

*Wild Ride to Nowhere: US Stocks Rise, Fall and Repeat*
U.S. stocks careened through another dizzying day Tuesday after indexes shot to big early-morning gains only to give them all up and then yo-yo between gains and losses.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks careened between big gains and losses on Tuesday before indexes ended the day mixed, the latest dizzying run for a market that's been dominated by them in recent months.

A morning burst driven by hopes for U.S.-China trade talks gave way to losses triggered by falling bank stocks and the threat of a federal government shutdown. The result of Tuesday's trip through the spin cycle, though, belies all the action. Indexes ended the day nearly where they began.

The S&P 500 dipped by 0.94 points, or less than 0.1 percent, to 2,636.78, while the Dow Jones industrial average fell 53.02, or 0.2 percent, to 24,370.24, and the Nasdaq composite rose 11.31, or 0.2 percent, to 7,031.83. Slightly more stocks fell on the New York Stock Exchange than rose.

It's the latest in a series of sharp turns in direction for the market, which has lurched up and mostly down since late September as investors recalibrate how worried they are about the global trade war, rising interest rates and expectations for a slowing economy.

The whipsaw action is a nerve-wracking departure from much of the past decade, when investors enjoyed a largely calm, rising market, and analysts are debating how big a turning point it is for the longest bull market on record.

"It's the last gasps of a bull market," said Rich Weiss, chief investment officer of multi-asset strategies at American Century Investments. Weiss has become more cautious about stocks as he's watched leadership shift from high-flying technology companies to makers of household products and other stocks that tend to do better in the late stages of a bull market.

Jon Adams, senior investment strategist at BMO Global Asset Management, is more optimistic that stocks can keep rising. But he says investors should get used to this increase in volatility, which follows a calmer-than-usual run.

"We came from a very low-volatility, benign environment in 2017, and I think we're getting to a more normal level of volatility, although a bit higher than historically," he said. "I think investors need to brace themselves for a higher level of volatility."

Behind that volatility is many forces pushing and pulling the market in different directions, and how optimistic or pessimistic investors are feeling about them on a given day. Several were on display Tuesday.

Early in the morning, the S&P 500 jumped as much as 1.4 percent after China's Commerce Ministry said that U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He spoke by phone about "the promotion of the next economic and trade consultations."

Media reports also said that China agreed to reduce tariffs on U.S. autos. That raised hopes that the two countries can make progress on their trade dispute. Investors worry weaker global trade would dent economic growth around the world and corporate profits.

Indexes veered to losses in the afternoon, hurt by falling bank stocks. Financial stocks in the S&P 500 fell at least 1 percent for the fifth straight day, and the S&P 500 was down as much as 0.6 percent at one point Tuesday afternoon.

Also weighing on the market was President Donald Trump's threat to shut down the government if Congress doesn't provide money to build a wall at the Mexican border.

In overseas stock markets, Germany's DAX was up 1.5 percent, and France's CAC 40 rose 1.3 percent. Britain's FTSE 100 gained 1.3 percent.

In Asia, Japan's Nikkei 225 lost 0.3 percent, South Korea's Kospi fell less than 0.1 percent to 2,052.97 and Hong Kong's Hang Seng edged up 0.1 percent.

Benchmark U.S. crude oil rose 65 cents to settle at $51.65 per barrel. Brent crude, the international standard, gained 0.4 percent to $60.20.

Natural gas fell 14 cents to $4.41 per 1,000 cubic feet, heating oil was close to flat at $1.85 per gallon and wholesale gasoline rose 2 cents to $1.44 per gallon.

Gold slipped $2.20 to $1,247.20 per ounce, silver rose 2 cents to $14.63 per ounce and copper rose 5 cents to $2.77 per pound.

The yield on the 10-year Treasury rose to 2.87 percent from 2.85 percent late Monday, while the two-year yield rose to 2.75 percent from 2.73 percent.

The gap between those two yields has been shrinking this year, which has worried some investors. When the 10-year yield falls below the two-year yield, investors call it an "inverted yield curve" and see it as a precursor to a recession.

In the currency markets, the dollar rose to 113.40 Japanese yen from 113.21 yen late Monday. The euro slipped to $1.1325from $1.1353, and the British pound dipped to $1.2527 from $1.2557.


----------



## bigdog

*A sea of green!*






https://www.usnews.com/news/busines...ina-trade-talks-help-push-asian-shares-higher

*Wall Street Ends Higher With Help From Tech and Health Care*
U.S. stocks gave up much of an early rally but still ended higher, led by gains in technology and health care companies.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks couldn't hang on to a big gain Wednesday, but they still finished broadly higher as technology and health care companies rose. That helped reverse some of the market's big losses from the week before.

Stocks initially rallied after the Wall Street Journal reported that China's government could make changes to its "Made in China 2025" economic development plan. That could be one step toward easing dispute between the world's two largest economies. The Dow Jones Industrial Average surged as much as 458 points in morning trading, but gave later back much of that gain.

"Any time you get some semblance of good news on trade, you've had this tendency to see a pretty sharp rally," said Liz Ann Sonders, chief investment strategist for Charles Schwab.

After taking steep losses at the end of last week, stocks have gyrated this week: on Monday they rallied to erase a big early loss, while on Tuesday a big morning gain turned into a small decline.

On Wednesday, most of the day's gains evaporated in the afternoon. The hour-to-hour changes reflect investors' nervousness about the health of the global economy: economic growth is expected to slow in 2019 and the U.S.-China trade dispute and rising interest rates could both make that slowdown more painful. Sonders said investors overlooked those threats for a time, but can't ignore them anymore.

"Some of these intraday reversals have been quite extraordinary," said Sonders. "You have to go back to the financial crisis era to see ... such a big swing on consecutive days."

The S&P 500 index rose 14.29 points, or 0.5 percent, to 2,651.07. The Dow gained 157.03 points, or 0.6 percent, to 24,527.27. The Nasdaq composite jumped 66.48 points, or 0.9 percent, to 7,098.31. The Russell 2000 index of smaller-company stocks added 15.19 points, or 1.1 percent, to 1,455.32.

Among technology companies, chipmaker Broadcom gained 3.3 percent to $254.98. Amazon gained 1.2 percent to $1,663.54 to lead retailers, and Netflix jumped 3.6 percent to $274.88 as internet and media companies joined in the gains.

Among industrials, machinery maker Caterpillar climbed 1.7 percent to $125.37 and equipment rental company United Rentals surged 6.3 percent to $108.30 after it gave strong forecasts for 2019 and said it will start buying back stock this month.

Through the "Made in China 2025" initiative, Beijing aims to create leading companies in fields like artificial intelligence, electric cars and robotics. The Trump administration says the government is unfairly subsidizing Chinese companies and discriminating against foreign rivals. Along with disputes over China's handling of intellectual property, it's a significant piece of the trade tensions between the countries.

Despite Wednesday's gains, almost half of the 500 stocks that make up the S&P 500 have fallen into a "bear market," meaning they have dropped at least 20 percent from their most recent peaks. The S&P 500 itself is down 9.5 percent from its record high in late September. The last bear market for the index ended in March 2009.

British legislators forced a no-confidence vote in Prime Minister Theresa May, threatening an end to her tenure. She won the vote, which was revealed after the close of U.S. trading. Lawmakers within May's Conservative Party have expressed frustrations over her negotiations of Britain's departure from the European Union, and many of them want a cleaner break from the trading bloc. Opposition lawmakers don't want Britain to leave the EU.

The uncertainty has knocked the British pound sharply lower in recent days, but it rose Wednesday to $1.2634 from $1.2527. The FTSE 100 stock index added 1.1 percent.

Deutsche Bank jumped after Bloomberg News reported that the German government might take steps to make it easier for the struggling bank to combine with competitor Commerzbank. U.S.-traded shares of Deutsche Bank gained 8.4 percent to $9.03, but they're still down 52.5 percent this year and have fallen almost 80 percent over the past five years as the company reels from weak results and investments in Greek and Italian bonds that went bad.

Commerzbank stock added 5.6 percent in Frankfurt.

Bond prices slipped. The yield on the 10-year Treasury note rose to 2.91 percent from 2.88 percent.

Tencent Music Entertainment, the largest music streaming service in China, climbed 7.7 percent in its first day of trading on the New York Stock Exchange. The company's IPO of 82 million shares priced at $13 a share and closed at $14 a share. Slightly more than half are being sold by the company and the rest are being sold by shareholders.

The CAC 40 in France surged 2.1 percent and Germany's DAX rose 1.4 percent. Japan's benchmark Nikkei 225 jumped 2.2 percent and South Korea's Kospi rose 1.4 percent. The Hang Seng in Hong Kong added 1.6 percent.

Benchmark U.S. crude oil fell 1 percent to $52.15 a barrel in New York. Brent crude, the international standard, lost 0.1 percent to $60.15 per barrel in London.

Wholesale gasoline dipped 1.3 percent to $1.42 a gallon and heating oil was unchanged at $1.85 a gallon. Natural gas dropped 6.1 percent to $4.14 per 1,000 cubic feet.

The dollar dipped to 113.22 yen from 113.40 yen. The euro rose to $1.1367 from $1.1325.

The price of gold rose 0.2 percent to $1,250 an ounce, silver rose 1.5 percent to $14.85 an ounce and copper edged up 0.1 percent to $2.77 a pound.


----------



## bigdog

"Over the last few weeks the mentality of 'buy the dip' has been replaced by something more like 'sell the rally,'" she said. "There is a little bit of a void right now, and I think that is creating some of this shift out of the most crowded and most profitable trades, and this overall shift in market mentality."






https://www.usnews.com/news/busines...s-advance-following-strong-wall-street-finish

*Stocks Indexes Settle Down, but Small Companies Drop Again*
US stocks finish mostly lower as banks, retailers and smaller companies fall, but the moves are small after a turbulent few days on Wall Street.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks wobbled Thursday as the markets turned fairly quiet after a very turbulent start to the week. Small companies dropped and high-dividend stocks, which investors favor when they want to reduce risk, rose.

Major stock indexes spent the day switching between small gains and losses after several days of much bigger moves. Clothing companies and other retailers fell, weighed down by weak earnings reports, and a disappointing forecast from Delta hurt airlines.

Chemical and basic materials makers also sank. Investors shifted some money into high-dividend stocks including utilities, household goods makers and real estate investment trusts.

Trading has been jagged over the last few months as investors worried about growing trade tensions and rising interest rates. Mona Mahajan, U.S. investment strategist for Allianz Global Investors, said traders aren't sure what strategy to use right now: many recent market favorites, including Facebook, Amazon, Netflix and Google, have taken a beating. Yet the global economy is still growing, making high-dividend, low-growth stocks like utilities feel like a strange choice, she said.

"Over the last few weeks the mentality of 'buy the dip' has been replaced by something more like 'sell the rally,'" she said. "There is a little bit of a void right now, and I think that is creating some of this shift out of the most crowded and most profitable trades, and this overall shift in market mentality."

The European Central Bank said it will end its bond-buying stimulus program at the end of the year, but trimmed its forecasts for growth across Europe. The bank isn't ending its stimulus program entirely, as it will continue to invest money from maturing bonds and will take other steps to encourage banks to lend money.

The S&P 500 index lost 0.53 points to 2,650.54. The Dow Jones Industrial Average added 70.11 points, or 0.3 percent, to 24,597.38 as McDonald's and Procter & Gamble rose. The Nasdaq composite fell 27.98 points, or 0.4 percent, to 7,070.33.

The Russell 2000 index of smaller companies fell 22.62 points, or 1.6 percent, to 1,432.70. The Russell has fallen 17.7 percent since setting a record high in late August and is trading at its lowest level since September 2017.

Among other issues, that reflects investors' fears about slowing economic growth in the U.S. and rising interest rates. Smaller companies are more vulnerable in times of slower growth, and they tend to carry higher levels of debt than larger companies do. Higher rates make those debts more costly.

Shaky reports from retailers may have added to those worries Thursday as apparel company Tailored Brands and Oxford Industries, the parent of Tommy Bahama and Lilly Pulitzer, both cut their forecasts for the year. Tailored Brands nosedived 29.8 percent to $14.13 and Oxford slipped 10.1 percent to $67.24. Smaller industrial and financial companies also dropped and larger retailers struggled as well.

The European Central Bank has spent about $3 trillion on bonds since early 2015 in an effort to encourage growth in Europe's economy, and the end of its bond-buying program comes as credit conditions around the world are gradually getting tighter.

The Federal Reserve has been steadily raising interest rates for three years and is letting its balance sheet shrink, and the Bank of England is also backing away from the stimulus efforts it employed following the global financial crisis of 2007-2009 and the Great Recession.

Those programs helped push global stock markets higher in recent years and their end might contribute to more volatility, but investors appeared to take the news in stride. Germany's DAX and the British FTSE 100 were little changed while the CAC 40 in France fell 0.3 percent.

Oil prices climbed following a Bloomberg News report that Saudi Arabia plans to cut exports to the U.S. The Senate also passed a resolution recommending the U.S. end its assistance to the kingdom for the war in Yemen, and also blamed Saudi Crown Prince Mohammed bin Salman for the killing of journalist Jamal Khashoggi. The resolution may not become law, but could increase tensions between Saudi Arabia and the U.S.

General Electric climbed 7.3 percent to $7.20 after JPMorgan Chase analyst C. Stephen Tusa upgraded the stock to "Neutral" from "Underweight." GE has fallen almost 60 percent this year after slashing its dividend, replacing its CEO, and taking big charges tied its power business and its insurance business. Analysts are concerned that several of its divisions are years away from being profitable.

The Japanese Nikkei 225 index gained 1 percent and Hong Kong's Hang Seng jumped 1.3 percent while the Kospi in South Korea added 0.6 percent.

Benchmark U.S. crude oil jumped 2.8 percent to $52.58 per barrel in New York. Brent crude, the international standard, rose 2.2 percent to $61.45 per barrel in London.

Wholesale gasoline climbed 4.1 percent to $1.48 a gallon and heating oil rose 1.4 percent to $1.88 a gallon. Natural gas slipped 0.3 percent to $2.14 per 1,000 cubic feet.

Bond prices edged lower. The yield on the 10-year Treasury note rose to 2.91 percent at 2.90 percent.

Gold dipped 0.2 percent to $1,247.40 an ounce. Silver was little changed at $14.89 an ounce and copper stayed at $2.77 a pound.

The dollar rose to 113.60 yen from 113.22 yen. The euro finished unchanged at $1.1367. The British pound rose to $1.2660 from $1.2634.


----------



## bigdog

DUMP TRUMP

SEA OF RED

*Stocks Plunge to 8-Month Lows on Growth Fears; J&J Nosedives*
Stocks fall sharply on Wall Street, shaving 496 points off the Dow Jones Industrial Average, as traders worry about signs of weaker economic growth in China and Europe.

December is typically the best month of the year for stocks and Wall Street usually looks forward to a "Santa Claus rally" that adds to the year's gains. With 10 trading days left this month, however, the S&P 500 is down 5.8 percent. That followed a small gain in November and a steep 6.9 percent drop in October.






https://www.usnews.com/news/busines...ian-shares-fall-on-poor-chinese-economic-data

*Stocks Plunge to 8-Month Lows on Growth Fears; J&J Nosedives*
Stocks fall sharply on Wall Street, shaving 496 points off the Dow Jones Industrial Average, as traders worry about signs of weaker economic growth in China and Europe.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks staggered to eight-month lows Friday after weak economic data from China and Europe set off more worries about the global economy. Mounting tensions in Europe over Britain's impeding departure from the European Union also darkened traders' moods.

The Dow Jones Industrial Average dropped as much as 563 points. On the benchmark S&P 500 index, health care and technology companies absorbed the worst losses. Johnson & Johnson plunged by the most in 16 years after Reuters reported that the company has known since the 1970s that its talc Baby Powder sometimes contained carcinogenic asbestos. The company denied the report.

China said industrial output and retail sales both slowed in November. That could be another sign that China's trade dispute with the U.S. and tighter lending conditions are chilling its economy, which is the second-largest in the world. Meanwhile, purchasing managers in Europe signaled that economic growth was slipping.

Sameer Samana, senior global market strategist for Wells Fargo Investment Institute, said investors are concerned that weakness will make it way to the U.S. They're wondering if the U.S. economy is likely to run out of steam sooner than they had thought.

"Market consensus has been that the next recession is probably in 2020 or beyond," he said. Now, he said, the market is "really testing that assumption and trying to figure out whether it's sooner."

The S&P 500 index lost 50.59 points, or 1.9 percent, to 2,599.95, its lowest close since April 2. The Dow retreated 496.87 points, or 2 percent, to 24,100.51.

The Nasdaq composite slid 159.67 points, or 2.3 percent, to 6,910.66. The Russell 2000 index of smaller-company stocks fell 21.89 points, or 1.5 percent, to 1,410.81.

December is typically the best month of the year for stocks and Wall Street usually looks forward to a "Santa Claus rally" that adds to the year's gains. With 10 trading days left this month, however, the S&P 500 is down 5.8 percent. That followed a small gain in November and a steep 6.9 percent drop in October.

Johnson & Johnson dropped 10 percent to $133 in very heavy trading. Its market value fell by $40 billion.

Reuters reported that court documents and test results show Johnson & Johnson has known for decades that its raw talc and finished Baby Powder sometimes contained asbestos, but that the company didn't inform regulators or the public. The company called the story "false and inflammatory."

In July the company lost a lawsuit from plaintiffs who argued that its products were linked to cases of ovarian cancer and mesothelioma. A St. Louis jury awarded plaintiffs $4.7 billion. Johnson & Johnson faces thousands of other lawsuits.

For more than 20 years, China has been one of the biggest contributors to growth in the global economy, and when investors see signs the Chinese economy is weakening, they expect it will affect other countries like the U.S. that sell things to China.

In Europe, the index of purchase managers fell in France, which is racked by protests, to a level that points toward economic contraction. Germany's reading still pointed to growth, but it fell to its lowest level in four years.

Those reports canceled out some potential good news on trade: the Chinese government announced a 90-day suspension of tariff increases on U.S. cars, trucks and auto imports. It's part of a cease-fire that China and the U.S. announced earlier this month to give them time to work on other issues.

Among technology companies, Apple dipped 3.2 percent to $165.48. Adobe skidded 7.3 percent to $230 after its fourth-quarter profit disappointed investors and it also forecast lower-than-expected earnings in the current fiscal year. Industrial companies sank as well. Boeing lost 2.1 percent to $318.75.

Oil prices again turned lower, as a slower global economy would weaken demand for oil and other fuels. Benchmark U.S. crude fell 2.6 percent to $51.20 a barrel in New York. Brent crude, used to price international oils, dropped 1.9 percent to settle at $60.28 a barrel in London.

European Union leaders rejected British Prime Minister Theresa May's request to make changes to their deal covering Britain's departure from the EU on March 29. British legislators aren't satisfied with the terms May negotiated, and she canceled a scheduled vote earlier this week because it was clear Parliament wouldn't approve it. Britain's economy and financial markets across Europe face severe disruption without an agreement.

European bond prices rose and yields fell. Both the British pound and the euro weakened. The pound slipped to $1.2579 from $1.2660 and the euro fell to $1.1303 from $1.1367.

Germany's DAX declined 0.5 percent and the CAC 40 in France declined 0.8 percent. Britain's FTSE 100 fell 0.5 percent.

Japan's Nikkei 225 index slid 2 percent and the Kospi in South Korea lost 1.3 percent. Hong Kong's Hang Seng was down 1.6 percent.

Bond prices edged higher. The yield on the 10-year Treasury note fell to 2.89 percent 2.90 percent.

In other commodities trading, wholesale gasoline lost 3 percent to $1.43 a gallon. Heating oil fell 1.7 percent to $1.85 a gallon and natural gas dropped 7.2 percent to $3.83 per 1,000 cubic feet.

Gold fell 0.5 percent to $1,241.40 an ounce. Silver dipped 1.5 percent to $14.64 an ounce. Copper was little changed at $2.77 a pound.

The dollar fell to 113.29 yen from 113.60 yen.

8658


----------



## bigdog

DUMP TRUMP

The S&P 500 index, the benchmark for many investors and funds, finished at its lowest level since Oct. 9, 2017. It has fallen 13.1 percent since its last record close on Sept. 20. The Russell 2000, an index of smaller companies, has dropped more than 20 percent since the end of August, meaning that index is now in what Wall Street calls a "bear market."

Another day of big losses knocked U.S. stocks to their lowest levels in more than a year Monday.

U.S. stocks sink to their lowest levels in 14 months Monday as retailers and health care and technology stocks fall.






https://www.usnews.com/news/busines...-shares-edge-higher-with-fed-meeting-in-focus

*Dow Jones Industrials Take Second Straight 2-Percent Plunge*
U.S. stocks sink to their lowest levels in 14 months Monday as retailers and health care and technology stocks fall.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Another day of big losses knocked U.S. stocks to their lowest levels in more than a year Monday. Investors dumped high-growth technology and retail companies as well as steadier, high-dividend companies. Oil fell below $50 a barrel for the first time since October 2017.

Hospitals and health insurers slumped after a federal judge in Texas ruled that the 2010 Affordable Care Act is unconstitutional. Other stocks wobbled in morning trading, then plunged in the afternoon. The Dow Jones Industrial Average fell 507 points after a 496 point drop Friday.

Amazon led a rout among retailers and tech companies including Microsoft turned sharply lower. Some of the largest losses went to utilities and real estate companies, which have done better than the rest of the market during the turbulence of the last three months.

"That is basically retail investors panicking," said Mark Hackett, chief of investment research at Nationwide Investment Management. "Investors basically are confusing the idea of a slowdown with a recession."

But investors dumped almost everything. Less than 40 of the 500 stocks comprising the S&P 500 finished the day higher.

The S&P 500 index, the benchmark for many investors and funds, finished at its lowest level since Oct. 9, 2017. It has fallen 13.1 percent since its last record close on Sept. 20. The Russell 2000, an index of smaller companies, has dropped more than 20 percent since the end of August, meaning that index is now in what Wall Street calls a "bear market."

Germany's main stock index also fell into a bear market Monday as companies like Siemens and SAP kept falling.

Smaller U.S. stocks have taken dramatic losses as investors have lost confidence in the U.S. economy's growth prospects. Smaller companies are considered more vulnerable in a downturn than larger companies because they are more dependent on economic growth and tend to have higher levels of debt.

Hackett said the current drop is similar to the market's big plunge in late 2015 and early 2016, which was also tied to fears that the global economy was weakening in a hurry. But even though the economy is slowing down after its surge in 2017 and 2018, it should continue to do fairly well.

"It's a slowdown from extremely high levels to healthy levels," he said. "The globe isn't going into a recession."

The S&P 500 skidded 54.01 points, or 2.1 percent, at 2,545.94. The Dow Jones Industrial Average lost 507.53 points, or 2.1 percent, to 23,592.98. The Nasdaq composite fell 156.93 points, or 2.3 percent, to 6,753.73. The Russell 2000 index dipped 32.97 points, or 2.3 percent, to 1,378.14.

Following the health care ruling, hospital operator HCA dropped 2.8 percent to $123.1 and health insurer UnitedHealth lost 2.6 percent to $258.07. Centene, a health insurer that focuses on Medicaid and the Affordable Care Act's individual health insurance exchanges, fell 4.8 percent to $121.42 and Molina skidded 8.9 percent to $120.

Many experts expect the ruling will be overturned, but with the markets suffering steep declines in recent months, investors didn't appear willing to wait and see.

Benchmark U.S. crude fell 2.6 percent to $49.88 a barrel in New York. Brent crude, used to price international oils, dipped 1.1 percent to $59.61 a barrel in London. Weaker economic growth would mean less demand for oil, and traders have been concerned there is too much crude supply on the market. That's chopped oil prices by one-third since early October.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.86 percent from 2.89 percent.

The Federal Reserve is expected to raise interest rates again Wednesday, the fourth increase of this year. It's been raising rates over the last three years, and investors will want to know if the Fed is scaling back its plans for further increases based on the turmoil in the stock market over the last few months and mounting evidence that world economic growth is slowing down.

Hackett, of Nationwide, said investors will be happy if the Fed adjusts its plans and projects fewer increases in interest rates next year. But he said investors might be startled if the Fed doesn't raise rates this week, as has been widely expected.

British Prime Minister Theresa May said Parliament will vote Jan. 14 on her deal setting terms for Britain's departure from the European Union. She canceled a vote on the deal last week because it was clear legislators were going to reject it. May insists she can save the deal, but pressure is mounting for either a vote by lawmakers or a new referendum on the issue.

Britain is scheduled to leave the EU in late March, and if it does so without a deal in place governing its trade and economic relationships with the bloc, it could bring huge disruptions to the British and European economies and financial markets.

Germany's DAX lost 0.9 percent. That means the DAX, which represents Europe's largest single economy, is also in a bear market. France's CAC 40 and Britain's FTSE 100 both fell 1.1 percent.

Japan's Nikkei 225 index added 0.6 percent and the Kospi in South Korea gained 0.1 percent. Hong Kong's Hang Seng was less than 0.1 percent lower. Both the Kospi and Hang Seng are in bear markets as well.

In other energy trading, wholesale gasoline shed 1.7 percent to $1.41 a gallon and heating oil slid 1 percent to $1.83 a gallon. Natural gas dropped 7.8 percent to $3.53 per 1,000 cubic feet.

Gold rose 0.8 percent to $1,251.80 an ounce. Silver added 0.8 percent to $14.76 an ounce. Copper dipped 0.3 percent to $2.75 a pound.

The dollar slipped to 112.75 yen from 113.29 yen. The euro rose to $1.1350 from $1.1303. The British pound rose to $1.2629 from $1.2579.


----------



## bigdog

DUMP TRUMP

U.S. crude oil fell to its lowest price since August 2017, and it has now fallen almost 40 percent since early October.






https://www.usnews.com/news/busines...s-slip-as-traders-brace-for-fed-rate-increase

*Stocks Waver as Plunging Oil Prices Pull Energy Stocks Lower*
U.S. give up an early gain and finish little changed as a 7 percent plunge in the price of crude oil weighs on energy companies.

Dec. 18, 2018, at 5:07 p.m.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — After two days of huge losses, U.S. stocks ended the day back where they started on Tuesday. Energy companies sank as crude oil plunged 7 percent, but technology and consumer-focused companies climbed.

U.S. crude oil fell to its lowest price since August 2017, and it has now fallen almost 40 percent since early October. Investors are worried that supplies continue to increase and that demand is slowing as the global economy weakens. The plunge in oil prices has crushed energy company stocks in recent weeks.

Energy stocks including Exxon Mobil fell again on Tuesday, but some of those losses were offset by gains in Apple, Amazon, Microsoft and Boeing. Boeing raised its quarterly dividend and said it will buy back another $20 billion of its own stock. Boeing has tumbled on worries that the global trade war will hit its profits particularly hard.

The Federal Reserve started its last meeting of the year. Investors expect it to raise interest rates on Wednesday when the meeting concludes. That would be its fourth increase this year, and its ninth in three years. Investors are hoping the Fed will say the increases are going to slow down in 2019 in light of recent signs that economic growth is slowing.

Trading was turbulent. Two days of widespread market declines had knocked 1,004 points off the Dow Jones Industrial Average, and on Tuesday, investors couldn't find a convincing reason for stock prices to go higher. On the other hand they didn't see cause for another big decline, either.

There haven't been any big developments in U.S.-China trade talks, a major focus for markets, since the beginning of this month. JJ Kinahan, chief markets strategist for TD Ameritrade, said that's left investors confused about the state of the trade dispute and reluctant to commit to stocks, while businesses aren't spending.

"We don't know the rules of the game," he said. "People can't plan. When you can't plan, you're not anxious to buy stocks."

The S&P 500 index inched up 0.22 points to 2,546.16, but is still trading at its lowest levels in 14 months. The Dow industrials added 82.66 points, or 0.4 percent, to 23,675.64. The Nasdaq composite gained 30.18 points, or 0.4 percent, to 6,783.91.

The Russell 2000 index of smaller companies lost another 0.97 points, or 0.1 percent, to 1,377.18. The index is 21 percent below the peak it set in August, meaning it's in what Wall Street calls a "bear market."

Benchmark U.S. crude plunged 7.3 percent to $46.24 a barrel in New York. Brent crude, used to price international oils, sank 5.6 percent to $56.26 a barrel in London.

The twin fears of slower global economic growth and rising stockpiles are bad for crude prices. While OPEC and several other countries recently agreed to cut production of oil in 2019, that hasn't stemmed the decline in prices. Traders have doubts that the cut is large enough to balance supply and demand.

"They're not the only game in town anymore," Kinahan said of OPEC. He said rising oil production in the U.S. and a combination of alternative fuels and greater efficiency by businesses has reduced OPEC's ability to sway the oil market.

On Tuesday, the Energy Information Administration said U.S. shale oil production will keep climbing in January, and the Wall Street Journal reported that oil production in Russia reached a record high in December.

The Federal Reserve recently forecast three more increases in interest rates next year, but investors doubt that's going to happen. The Fed's rates help set borrowing costs for various types of loans. Higher rates can slow economic growth, and that's something investors have been worrying about as China and Europe have suggested growth is slowing, and the U.S. economy is also expected to cool off in 2019.

Those higher rates also make stocks look relatively less attractive.

After the increase in its dividend and the larger stock repurchase, Boeing climbed 3.8 percent to $328.06. The stock has dropped 16 percent since early October. Several other companies that have recently suffered big losses also said they will buy back more stock, including health care products giant Johnson & Johnson and insurer Allstate.

The Commerce Department said developers broke ground on more apartments in November, and homebuilders climbed. Lennar gained 2.5 percent to $41.01 and NVR added 1.1 percent to $2,479.81. The companies have taken huge losses this year as rising mortgage rates and prices have reduced home sales.

Real estate investment trusts also rose Tuesday. Apartment building owner AvalonBay Communities gained 1.1 percent to $181.91 and CBRE Group rose 4.3 percent to $41.15. Real estate companies had taken sharp losses Monday.

Bond prices rose again. The yield on the 10-year Treasury dipped to 2.82 percent from 2.85 percent late Monday.

Germany's DAX lost 0.3 percent, deepening its slide into a bear market. Britain's FTSE 100 shed 1.1 percent and France's CAC 40 dripped 1 percent lower.

Losses were more severe in Asia. The Nikkei 225 in Japan lost 1.8 percent, the Hang Seng in Hong Kong dropped 1 percent and South Korea's Kospi slipped 0.4 percent.

In other commodities trading, wholesale gasoline fell 4.2 percent to $1.35 a gallon and heating oil lost 4 percent to $1.75 a gallon. Natural gas jumped 8.8 percent to $3.84 per 1,000 cubic feet.

Gold inched up 0.1 percent to $1,253.30 an ounce. Silver fell 0.4 percent to $1470 an ounce. Copper skidded 3.3 percent to $2.66 a pound.

The dollar dipped to 112.53 Japanese yen from 112.75 yen late Monday. The euro rose to $1.1357 from $1.1350, and the British pound rose to $1.2639 from $1.2629.


----------



## bigdog

DUMP TRUMP

Stocks gave up a big rally and took a dive in afternoon trading Wednesday after the Federal Reserve raised interest rates again and said it plans to keep raising them next year. The market finished at its lowest level since September 2017






https://www.usnews.com/news/busines...ed-in-asia-on-fed-rate-decision-japanese-data

*Stocks Skid to 15-Month Low After Fed Raises Rates Again*
Stocks surrendered a substantial gain after the Federal Reserve raised interest rates again and said it plans to keep raising them next year. Some investors had hoped the Fed would signal a sharper slowdown in its credit tightening policy.

Dec. 19, 2018, at 4:34 p.m.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks gave up a big rally and took a dive in afternoon trading Wednesday after the Federal Reserve raised interest rates again and said it plans to keep raising them next year. The market finished at its lowest level since September 2017.

The U.S. central bank said it expects to increase interest rates at a slightly slower pace next year, and also said it isn't planning any changes in the gradual shrinking of its large bond portfolio. Investors appeared to hope the Fed would unveil a sharper slowdown in interest rate hikes and other credit tightening policies because economic growth is likely to slow down.

The Dow Jones Industrial Average fell 351 points and lost 513 points at its lowest point. Before the Fed's decision was announced at 2 p.m. Eastern Time, it was up 381 points.

Bond prices rose, sending yields sharply lower. Bond yields are benchmarks for many kinds of long-term loans including mortgages.

The Fed raised its short-term interest rate for the fourth time this year, to a range of 2.25 percent to 2.5 percent. The Fed's benchmark rate is at its highest point since 2008, which means higher borrowing costs for many consumers and businesses.

The Fed is now forecasting two increases in rates in 2019 instead of three. The central bank expects the long-term level of its main interest rate will be 2.8 percent, down from an earlier projection of 3 percent.

Bond prices rose following the Fed's announcement. The yield on the 10-year Treasury note fell to 2.78 percent from 2.84 percent immediately before the Fed's announcement and 2.82 late Tuesday. That's a substantial move for that benchmark lending rate.

The yo-yo movements for the stock market were a result of markets trying to parse Powell's comments, which essentially were: The economy is strong enough to warrant a rate increase now, but not so strong to need three rate increases, as the Fed had indicated a few months ago.

"Chairman Powell was threading the needle today," said Frances Donald, head of macroeconomic strategy at Manulife Asset Management. "He had to say that the economic picture is not as good as three months ago, while also saying that the pillars of the economy remain intact. And markets have to react, live, to that 'on the one hand, on the other hand' that Powell has to play in this economy."

Internet, technology and consumer-focused companies dropped. Facebook fell sharply after the New York Times reported that the social media network gave companies more access to users' personal data than it has previously said. The report said Facebook had arrangements with more than 150 companies including Microsoft, Amazon, Spotify and Netflix that let different companies read, write and delete users' private messages, see the names of a user's friends or their news feeds without their consent.

Separately, the District of Columbia sued Facebook for allowing Cambridge Analytica, a data-mining firm working for the Trump campaign, to improperly access data from as many as 87 million Facebook users.

Facebook lost 7.2 percent to $133.25. It's down 39 percent since late July on concerns about a slowdown in user growth, multiple privacy and safety scandals, as well as the possibility of increased regulation in the future.

FedEx plunged after saying international shipping, especially in Europe, fell in the latest quarter. FedEx also said the U.S.-China trade dispute is affecting its business. The shipping company posted a smaller profit than analysts expected and said it will cut spending and offer buyouts to some workers to help make up for the shaky results.

FedEx stock lost 12.2 percent to $162.51. It has dropped 35 percent this year. Rival UPS lost 3 percent to $94.32 and has slumped 21 percent in 2018.

The Dow fell 1.5 percent to 23,323.66. The S&P 500 skidded 39.20 points, or 1.5 percent, to 2,506.96. It's tumbled 14.5 percent in the last three months, including a loss of 9.2 percent so far in December.

The Nasdaq composite gave up 147.08 points, or 2.2 percent, to 6,636.83. The Russell 2000 index, which has suffered broader declines than the rest of the market, fell 27.95 points, or 2 percent, to 1,349.23.

Despite the losses, David Kelly, the chief global strategist for JPMorgan Funds, said the market will ultimately react to the health of the economy. He said the Fed's moves Wednesday made sense and could prolong the already long-lasting growth in the U.S.

"The Fed behaving in a very prudent, balanced way increases the possibility of a very balanced expansion" continuing, he said.

Oil prices turned higher after plunging a day earlier on worries about rising supplies and weakening global growth, which could weigh on demand.

Benchmark U.S. crude climbed 2.1 percent to $47.20 a barrel in New York. It dropped 7 percent Tuesday and closed at a 16-month low, and has fallen almost 40 percent since Oct. 3. Brent crude, used to price international oils, rose 1.7 percent to $57.24 a barrel in London.

Wholesale gasoline rose 2.7 percent to $1.39 a gallon and heating oil added 2.9 percent to $1.81 a gallon. Natural gas lost 2.9 percent to $3.73 per 1,000 cubic feet.

Energy company stocks fell again. They're trading at their lowest levels since early 2016.

The dollar was down for the day and recovered slightly after the Fed's move. The dollar slipped to 112.36 yen from 112.53 yen. The euro rose to $1.1368 from $1.1357 and the British pound dipped to $1.2621 from $1.2639.

European stocks rose after Italy's government reached an agreement with the European Commission on its budget plans. The Italian FTSE MIB jumped 1.6 percent. Britain's FTSE 100 rose 1 percent while Germany's DAX added 0.2 percent and the CAC 40 in France rose 0.5 percent.

Japan's Nikkei 225 index fell 0.6 percent and while South Korea's Kospi rose 0.8 percent. Hong Kong's Hang Seng was 0.2 percent higher.

Gold rose 0.2 percent to $1,256.40 an ounce. Silver added 0.8 percent to $14.82 an ounce. Copper climbed 1.9 percent to $2.72 a pound.


----------



## bigdog

DUMP TRUMP

The Dow Jones Industrial Average dropped 464 points Thursday, bringing its losses to more than 1,700 points since Friday.

The benchmark S&P 500 index has slumped 10.6 percent this month and is almost 16 percent below the peak it reached in late September.






https://www.usnews.com/news/busines...ks-plunge-after-wall-street-fall-on-rate-hike

*Dow Sinks Another 464 Points as Slowdown Fears Worsen*
Stocks took another dive on Wall Street, adding to the steep losses in recent days as investors remain concerned that economic growth around the world and in the U.S. could slow dramatically over the next few years.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — It was another miserable day on Wall Street as a series of big December plunges continued, putting stocks on track for their worst month in a decade.

The Dow Jones Industrial Average dropped 464 points Thursday, bringing its losses to more than 1,700 points since Friday.

The benchmark S&P 500 index has slumped 10.6 percent this month and is almost 16 percent below the peak it reached in late September.

The steady gains of this spring and summer now fell like a distant memory. As we've entered the fall, investors started to worry that global economic growth is cooling off and that the U.S. could slip into a recession in the next few years. The S&P 500 is on track for its first annual loss in a decade.

The technology stocks that have led the market in recent years are now dragging it down. The technology-heavy Nasdaq composite is now down 19.5 percent from the record high it reached in August.

The market swoon is coming even as the U.S. economy is on track to expand this year at the fastest pace in 13 years. Markets tend to move, however, on what investors anticipate will happen well into the future, so it's not uncommon for stocks to sink even when the economy is humming along.

Right now, markets are concerned about the potential for a slowing economy and two threats that could make the situation worse: the ongoing trade dispute between the U.S. and China, which has lasted most of this year, and rising interest rates, which act as a brake on economic growth by making it more expensive for businesses and individuals to borrow money.

The selling in the last two days came after the Federal Reserve raised interest rates for the fourth time this year and signaled it was likely to continue raising rates next year, although at a slower rate than it previously forecast.

Scott Wren, senior global equity strategist at Wells Fargo Investment Institute, said investors felt Fed Chairman Jerome Powell came off as unconcerned about the state of the U.S. economy, despite deepening worries on Wall Street that growth could slow even more in 2019 and 2020. Wren said investors want to know that the Fed is keeping a close eye on the situation.

"He may be a little overconfident," said Wren. "The Fed needs to be paying attention to what's going on."

Powell also acknowledged that the Fed's decisions are getting trickier because they need to be based on the most up-to-date figures on jobs, inflation, and economic growth. For the last three years the Fed told investors weeks in advance that it was almost certain to increase rates. But things are less certain now, and the market hates uncertainty.

Treasury Secretary Steven Mnuchin said the market's reaction to the Fed was "completely overblown."

Investors have responded to a weakening outlook for the U.S. economy by selling stocks and buying ultra-safe U.S. government bonds. The bond-buying has the effect of sending long-term bond yields lower, which reduces interest rates on mortgages and other kinds of long-term loans. That's generally good for the economy.

At the same time, the reduced bond yields can send a negative signal on the economy. Sharp drops in long-term bond yields are often seen as precursors to recessions.

The S&P 500 index skidded 39.54 points, or 1.6 percent, to 2,467.42. The Dow fell 464.06 points, or 2 percent, to 22,859.60 after sinking as much as 679.

The Nasdaq fell 108.42 points, or 1.6 percent, to 6,528.41. The Russell 2000 index of smaller companies dropped another 23.23 points, or 1.7 percent, to 1,326.

Smaller company stocks have been crushed during the recent market slump because slower growth in the U.S. will have an outsize effect on their profits. Relative to their size, they also tend to carry more debt than larger companies, which could be a problem in a slower economy with higher interest rates.

The Russell 2000 is down almost 24 percent from the peak it reached in late August and it's down 13.6 percent for the year to date. The S&P 500, which tracks larger companies, is down 7.7 percent.

The possibility of a partial shutdown of the federal government also loomed over the market on Thursday, as funding for the government runs out at midnight Friday. In general, shutdowns don't affect the U.S. economy or the market much unless they stretch out for several weeks, which would delay paychecks for federal employees.

Oil prices continued to retreat. Benchmark U.S. crude fell 4.8 percent to $45.88 a barrel in New York, and it's dropped 40 percent since early October. Brent crude, used to price international oils, slipped 5 percent to $54.35 a barrel in London.

After early gains, bond prices headed lower. The yield on the two-year Treasury rose to 2.87 percent from 2.65 percent, while the 10-year note rose to 2.80 percent from 2.77 percent.

The gap between those two yields has shrunk this year. When the 10-year yield falls below the two-year yield, investors call it an "inverted yield curve." That hasn't happened yet, but investors fear it will. Inversions are often taken as a sign a recession is coming, although it's not a perfect signal and when recessions do follow inversions in the yield curve, it can take a year or more.

"The bond market has been telling us something for about a year, and that is there's not going to be much inflation and there's not going to be a sustained surge in economic growth," said Wren, of Wells Fargo.

In France, the CAC 40 lost 1.8 percent and Germany's DAX fell 1.4 percent. The British FTSE 100 slipped 0.8 percent. Indexes in Italy, Portugal and Spain took bigger losses.

Tokyo's Nikkei 225 lost 2.8 percent and Hong Kong's Hang Seng gave up 1 percent. Seoul's Kospi shed 0.9 percent.

As investors adjusted to the prospect of a weaker economy and lower long-term interest rates, the dollar fell to 111.11 yen from 112.36 yen. The euro rose to $1.1469 from $1.1368.

The British pound rose to $1.2671 from $1.2621. That sent the price of gold higher, and it gained 0.9 percent to $1,267.9 an ounce. Silver rose 0.3 percent to $14.87 an ounce and copper, which is considered an indicator of economic growth, fell 0.7 percent to $2.70 a pound.

Other fuel prices also fell. Wholesale gasoline lost 4.6 percent to $1.32 a gallon and heating oil slid 3.1 percent to $1.75 a gallon. Natural gas gave up 3.8 percent to $3.58 per 1,000 cubic feet.


----------



## bigdog

DUMP TRUMP

Another day of big losses Friday left the U.S. market with its worst week in more than seven years. All of the major indexes have lost 16 to 26 percent from their highs this summer and fall. Barring huge gains during the upcoming holiday period, this will be the worst December for stocks since 1931.

Stocks are now headed for their single worst month since October 2008, when the market was being battered by the global financial crisis.

The major U.S. indexes fell 7 percent this week and they've sunk more than 12 percent in December.

Note that the NYSE major indexes are all marginally above the "52-Wk Low" index lows in the main chart below











https://www.usnews.com/news/busines...ocks-sink-for-2nd-day-after-wall-street-slide

*A Decade-Long Rally on Wall Street Looks Like It's Ending*
The nearly 10-year stock market rally looks like it's fading after another day of big losses Friday left the U.S. market with its worst week in more than seven years.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — After almost 10 years, Wall Street's rally looks like it's ending.

Another day of big losses Friday left the U.S. market with its worst week in more than seven years. All of the major indexes have lost 16 to 26 percent from their highs this summer and fall. Barring huge gains during the upcoming holiday period, this will be the worst December for stocks since 1931.

There hasn't been one major shock that has sent stocks plunging. The U.S. economy has been growing since 2009, and most experts think it will keep expanding for now. But it's likely to do so at a slower pace.

As they look ahead, investors are finding more and more reasons to worry. The U.S. has been locked in a trade dispute with China for nine months. Economies in Europe and China are slowing. And rising interest rates in the U.S. could slow its economy even more.

Stocks are now headed for their single worst month since October 2008, when the market was being battered by the global financial crisis.

December is generally the strongest time of the year for U.S. stocks. Traders often talk about a "Santa rally" that adds to the year's gains as people adjust their portfolios in anticipation of the year to come.

But not this year.

No sector of the market has been spared. Large multi-national companies join smaller domestic ones in their losses. And huge high-tech companies, once the best-performing stocks on the market, are now leading the way lower.

Technology's huge popularity during the recent boom years made it even more vulnerable as investors' moods turn sour. Amazon, Facebook, Apple, Netflix, and Google's parent company, Alphabet, have seen their market values fall by hundreds of billions of dollars.

"If you live by momentum, you die by momentum," said Sam Stovall, chief investment strategist for CFRA.

The Nasdaq composite, which contains a high concentration of tech stocks, has sunk almost 22 percent from its record high in late August. Several big technology companies, notably Facebook and Twitter, have also suffered as a result of scandals over matters such as data privacy and election meddling, and traders worry that the industry will face greater government regulation that could increase costs and affect their profits.

The major U.S. indexes fell 7 percent this week and they've sunk more than 12 percent in December.

Investors around the world have grown increasingly pessimistic about the global economy's prospects over the next few years. It's widely expected to slow down, but traders are concerned the cooling might be worse than they previously believed.

After a sharp early gain Friday, the S&P 500 index retreated 50.84 points, or 2.1 percent, to 2,416.58. The S&P 500, the benchmark for many index funds, has fallen 17.5 percent from its high in September.

The Dow Jones Industrial Average sank 414.23 points, or 1.8 percent, to 22,445.37. The Nasdaq skidded 195.41 points, or 3 percent, to 6,332.99. The Russell 2000 index of smaller-company stocks lost 33.92 points, or 2.6 percent, 1,292.09.

European markets rose slightly and Asian markets were mixed.

The price of oil has also fallen sharply in recent weeks, down 40 percent from the high it reached in October, amid concerns over a glut in the market and the slowing economy.

On Friday the price of U.S. crude slipped 0.6 percent to $45.59 a barrel in New York. Brent crude, the standard for international oil prices, fell 1 percent to $53.82 a barrel in London.

In other trading:

—Wholesale gasoline was little changed at $1.32 a gallon. Heating oil fell 1 percent to $1.73 a gallon. Natural gas jumped 6.5 percent to $3.82 per 1,000 cubic feet.

—Bond prices were mixed. The yield on the 2-year Treasury note fell to 2.62 percent from 2.65 percent. The yield on the 10-year Treasury note dipped to 2.78 percent from 2.79 percent.

—Gold lost 0.8 percent to $1,258.10 an ounce and silver fell 1.1 percent to $14.70 an ounce. Copper lost 0.8 percent to $2.67 a pound.

—The U.S. dollar ticked higher after two days of sharp losses brought on by fears about the economy and slower increases in interest rates. The dollar rose 111.36 yen from 111.11 yen. The euro fell back to $1.1369 from $1.1469 and the British pound slipped to $1.2639 from $1.2671.

9268


----------



## bigdog

*DUMP TRUMP DISASTER*

The major indexes on Wall Street fell another 2 percent Monday, making it very possible that the market will end this month as the worst December for stocks since 1931.

Trading was choppy and volume was light Monday during a shortened trading session ahead of the Christmas holiday Tuesday. U.S. markets are due to reopen for trading on Wednesday.

The past two trading days, however, have been dominated by something else: major losses immediately following tweets from the president criticizing Fed Chairman Jerome Powell and the central bank, which sets monetary policy for the nation.

Trump's morning tweet blasting the Fed generated fears about the economy being destabilized by any efforts to undermine Powell or strip him of office.

Today all major indexes finished at 12 months lows - refer RH side of chart











https://www.usnews.com/news/busines...ump-in-early-trade-ahead-of-christmas-holiday

*Not Very Merry: US Stocks Plunge Before Christmas*
President Donald Trump's attack on the Federal Reserve spooked financial markets on Christmas Eve, raising fears about an uncertain future should the White House try to undermine or remove the head of the U.S. central bank.

Dec. 24, 2018, at 1:40 p.m.

By ALEX VEIGA, AP Business Writer

President Donald Trump's attack on the Federal Reserve spooked financial markets on Christmas Eve, raising fears about an uncertain future should the White House try to undermine or remove the head of the U.S. central bank.

Treasury Secretary Steven Mnuchin calls to the top executives at six major banks Sunday in an attempt to stabilize jittery markets had the opposite effect.

The major indexes on Wall Street fell another 2 percent Monday, making it very possible that the market will end this month as the worst December for stocks since 1931.

The market has been roiling for most of the month over concerns about a slowing global economy, an escalating trade dispute with China and recent interest rate hike by the Federal Reserve.

The past two trading days, however, have been dominated by something else: major losses immediately following tweets from the president criticizing Fed Chairman Jerome Powell and the central bank, which sets monetary policy for the nation.

Trump's morning tweet blasting the Fed generated fears about the economy being destabilized by any efforts to undermine Powell or strip him of office.

"We've never seen anything like this full-blown and full-frontal assault," said Peter Conti-Brown, a financial historian at the Wharton School of the University of Pennsylvania. This is a disaster for the Fed, a disaster for the president and a disaster for the economy."

Fed board members are nominated by the president, but they've historically made decisions independent of the White House in order to shield decisions about employment and inflation from political maneuvering. Trump has voiced his anger over the Fed's decision to raise its key short-term rate four times this year. Those measures are intended to prevent the economy from overheating at a time of brisk growth and an unemployment rate near a half-century low.

Trump's latest remarks, which came after administration officials spent the weekend trying to reassure financial markets that Powell's job as Fed chairman is safe, created more uncertainty for already unnerved investors that have seen all of the stock market gains from this year evaporate.

"Now we're having a correction and we're down for the year, so the narrative people get drawn to is that perhaps (Trump's) more unpredictable policies are bad for the market," said Craig Birk, chief investment officer at Personal Capital. "The separation between the president and the Fed, maybe just causes a little more concern than it would have a few months ago."

The S&P 500 index slid 65.52 points, or 2.7 percent, to 2,351.10. The Dow Jones Industrial Average sank 653.17 points, or 2.9 percent, to 21,792.20. The Nasdaq skidded 140.08 points, or 2.2 percent, to 6,192.92. The Russell 2000 index of smaller-company stocks gave up 25.16 points, or 2 percent, 1,266.92.

Monday's sell-off extends the market's losses after its worst week I more than seven years. The major indexes are down 16 to 26 percent from their autumn highs.

Trading was choppy and volume was light Monday during a shortened trading session ahead of the Christmas holiday Tuesday. U.S. markets are due to reopen for trading on Wednesday.

Technology stocks, health care companies and banks took some of the heaviest losses in the sell-off, which began following news that the Mnuchin called CEOs of six major banks Sunday in an apparent attempt to stabilize jittery markets.

Mnuchin said the heads of Bank of America, Citigroup, Goldman Sachs, JP Morgan Chase, Morgan Stanley and Wells Fargo all assured him they have ample money to finance their normal operations, even though there haven't been any serious liquidity concerns rattling the market. But the calls added to the underlying worries that have gripped markets of late.

Bank stocks declined Monday. Wells Fargo slid 1.9 percent to $44.26.

The market briefly bounced back from the steep opening slide, then veered lower again around midmorning after Trump tweeted his latest volley of criticism at the Fed, which included: "The Fed is like a powerful golfer who can't score because he has no touch - he can't putt!"

Health care and technology stocks accounted for a big share of the selling Monday. Microsoft fell 2.2 percent to $96.05. Johnson & Johnson lost 4 percent to $122.99.

Oil prices, which have sunk on concerns about the state of the global economy and also oversupply in the market, continued to slide. Benchmark U.S. crude fell 3.1 percent to $44.18 a barrel in New York. Brent crude, used to price international oils, declined 2.6 percent to $52.43 a barrel in London.

The decline in oil prices weighed on energy stocks. Hess slumped 8.1 percent to $38.11.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.77 percent from 2.79 percent late Friday.

The dollar fell to 110.50 yen from 111.31 yen on Friday. The euro strengthened to $1.1415 from $1.1370.

In Christmas holiday-thinned half-day trading in Europe, France's CAC 40 fell 1.5 percent, while the FTSE 100 index of leading British shares slid 0.5 percent. Germany's DAX was closed.

Major indexes in Asia finished mixed. South Korea's Kospi dropped 0.3 percent, while Hong Kong's Hang Seng lost 0.4 percent on a short trading day. Australia's S&P ASX 200 added 0.5 percent. Markets in Japan and Indonesia, which is reeling from a weekend tsunami that has killed at least 373 people, were closed.


----------



## bigdog

DUMP TRUMP

*U.S. markets closed December 25 and  reopen Wednesday*

Japanese stocks plunged Tuesday and other Asian markets declined following heavy Wall Street losses triggered by President Donald Trump's criticism of the U.S. central bank.

The Nikkei 225 fell by an unusually wide margin of 5 percent to 19,155.14. The Shanghai Composite Index ended off 0.9 percent at 2,504.82 after being down as much as 2.3 percent at midday. Benchmarks in Thailand and Taiwan also declined.


The only markets open in Asia December 25 were










https://www.usnews.com/news/busines...lunge-other-asia-markets-fall-after-us-losses

*Japan Stocks Plunge, Other Asia Markets Fall After US Losses*
Japanese stocks plunge and other Asian markets decline following heavy Wall Street losses triggered by Trump's attack on US central bank.

By JOE McDONALD, AP Business Writer

BEIJING (AP) — Japanese stocks plunged Tuesday and other Asian markets declined following heavy Wall Street losses triggered by President Donald Trump's criticism of the U.S. central bank.

The Nikkei 225 fell by an unusually wide margin of 5 percent to 19,155.14. The Shanghai Composite Index ended off 0.9 percent at 2,504.82 after being down as much as 2.3 percent at midday. Benchmarks in Thailand and Taiwan also declined.

Markets in Europe, Hong Kong, Australia and South Korea were closed for Christmas.

Wall Street indexes fell more than 2 percent on Monday after Trump said on Twitter the Federal Reserve was the U.S. economy's "only problem." Efforts by Treasury Secretary Steven Mnuchin to calm investor fears only seemed to make matters worse.

U.S. stocks are track for their worst December since 1931 during the Great Depression.

Shanghai is down almost 25 percent this year. Tokyo, Hong Kong and other markets are on track to end 2018 down more than 10 percent.

Markets have been roiled by concerns about a slowing global economy, the U.S.-Chinese tariff battle and another interest rate increase by the Fed.

Trump's Monday morning tweet heightened fears about the economy being destabilized by a president who wants control over the Fed. Its board members are nominated by the president but make decisions independently of the White House. The board's chairman, Jerome Powell, was nominated by Trump last year.

"The only problem our economy has is the Fed," the president said on Twitter. "They don't have a feel for the Market, they don't understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can't score because he has no touch — he can't putt!"

The Standard & Poor's 500 index slid 2.7 percent. The benchmark index is down 19.8 percent from its peak on Sept. 20, close to the 20 percent drop that would officially mean the end of the longest bull market for stocks in modern history — a run of nearly 10 years.

The Dow Jones Industrial Average sank 2.9 percent while the Nasdaq skidded 2.2 percent.

On Sunday, Mnuchin made a round of calls to the heads of the six largest U.S. banks, but the move only raised new concerns about the economy.

Most economists expect U.S. economic growth to slow in 2019, not slide into a full-blown recession. But the president has voiced his anger over the Fed's decision to raise its key short-term rate four times in 2018. That is intended to prevent the economy from overheating.

Technology stocks, health care companies and banks took some of the heaviest losses in Monday's sell-off. Wells Fargo slid 3.4 percent, Microsoft 4.2 percent and Johnson & Johnson 4.1 percent.

U.S. markets reopen Wednesday.

In energy markets, Brent crude, used to price international oils, lost 9 cents to $50.68 per barrel in London. The contract plummeted $3.33 on Monday to close at $50.77.

In currency trading, the dollar declined to 110.28 yen from Monday's 110.45 yen. The euro was little-changed at $1.1407.


----------



## bigdog

*U.S. stocks rebound after Christmas; Dow closes up more than 1,000 points*






https://www.chicagotribune.com/business/ct-biz-stock-markets-dec-26-story.html

*U.S. stocks rebound after Christmas; Dow closes up more than 1,000 points*

Alex Veiga Associated Press

U.S. stocks surged Wednesday, recovering all their losses from a Christmas Eve plunge and giving the market its best single-day percentage gain in 10 years.

Gains in technology companies, retailers, health care and internet stocks drove the broad rally, which gave the benchmark S&P 500 index some breathing room after it slid Monday to just shy of what Wall Street calls a bear market — a 20 percent fall from an index's peak.

Energy stocks also rebounded as the price of U.S. crude oil notched its biggest one-day gain in more than two years.

Trading volume was lighter than usual following the Christmas holiday. Markets in Europe, Hong Kong and Australia were closed.

"Today simply can only be really chalked up to a reflex rally after having been oversold," said Sam Stovall, chief investment strategist for CFRA. "The real question is do we have follow-through for the rest of this week."

The Dow Jones Industrial Average gained 5 percent or 1,086 points to 22,878. It was the Dow’s biggest one-day point gain ever.

The benchmark S&P 500 gained 5 percent or 116 points to 2,467. Nasdaq rose 5.8 percent or 361 points to 6,554.

Wednesday's gains pulled the S&P 500 back somewhat from the brink of a bear market, where it finished after a shortened trading session Monday. That would mark the end to the longest bull market for stocks in modern history after nearly 10 years.

Stocks fell sharply Monday after President Donald Trump lashed out at the central bank. Administration officials had spent the weekend trying to assure financial markets that Fed chairman Jerome Powell's job was safe. On Tuesday, Trump reiterated his view that the Federal Reserve is raising interest rates too fast, but called the independent agency's rate hikes a "form of safety" for an economy doing well.

On Wednesday, Kevin Hassett, chairman of the White House Council of Economic Advisers, weighed in, saying Powell is in no danger of being fired, The Wall Street Journal reported.

"The market is trying to find an equilibrium between earnings, revenue growth and the economy, but when you have an onslaught of headlines that just manifest uncertainty from Washington, it just feeds negative sentiment," said Quincy Krosby, chief market strategist at Prudential Financial.

The market's sharp downturn since October intensified this month, erasing its 2018 gains and nudging the S&P 500 closer to its worst year since 2008. Despite Wednesday's rally, stocks are on track for their worst December since 1931, during the depths of the Great Depression.

"This is a market that's heavily oversold, and typically you expect a strong bounce following that," Krosby said. "Oil prices have just moved quite markedly. And retail is having a very strong holiday season."

The lackluster finish to 2018 comes as most economists expect growth to slow in 2019, though not by enough to slide into a full-blown recession. Many economic barometers still look encouraging. Unemployment is at 3.7 percent, the lowest since 1969. Inflation is tame. Pay growth has picked up. Consumers boosted their spending this holiday season.

Even so, traders have been jittery this autumn over signs that the global economy is slowing, the escalating U.S. trade dispute with China and another interest rate increase by the Fed. Many investors are growing worried that corporate profits -- which drive stock market gains -- are poised to weaken.

Some of what Wall Street sees coming out of the White House has added to the market's uncertainty, specifically the president's attacks on the Fed and remarks about the ongoing trade conflict with China.

The president could help restore some stability to the market if he "gives his thumbs a vacation," Stovall said.

"Tweet things that are more constructive in terms of working out an agreement with Democrats and with China. And then just remain silent as it relates to the Fed," Stovall said.

Technology stocks accounted for much of Monday's early bounce. Big retailers were also among the gainers.

Homebuilders mostly rebounded after an early slide following a report indicating that annual U.S. home price growth slowed in October.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.79 percent from 2.75 percent late Monday.

The dollar strengthened to 111.36 yen from 110.41 yen on Monday. The euro weakened to $1.1351 from $1.1404.

Gold edged up 0.1 percent to $1,273 an ounce and silver gained 2 percent to $15.12 an ounce. Copper gained 1.5 percent to $2.70 a pound.

The partial U.S. government shutdown that started Saturday is unlikely to hurt the economy much, although it may deprive the financial markets of data about international trade and gross domestic product. The Bureau of Economic Analysis said Wednesday that it's required to suspend all operations until Congress approves funding, which means that the government might not release its fourth-quarter report on gross domestic product as scheduled for Jan. 30.


----------



## bigdog

The Dow just staged a nearly 900-point turnaround in frenetic Thursday action

US stocks stage furious late-day rally to close with gains, erasing 600-point drop in Dow Jones Industrial Average

Wall Street staged a swift, last-minute turnaround Thursday that rescued stocks from a steep dive and put the market on track to end a topsy-turvy, volatile week with a gain.







https://www.usnews.com/news/busines...ks-rally-asia-mixed-after-wall-street-rebound

*US Stocks Stage Big Rally, Erase 600 Point Drop in Dow*
Wall Street staged a swift, last-minute turnaround Thursday that rescued stocks from a steep dive and put the market on track to end a topsy-turvy, volatile week with a gain.

By ALEX VEIGA, AP Business Writer

Wall Street staged a swift, last-minute turnaround Thursday that rescued stocks from a steep dive and put the market on track to end a topsy-turvy, volatile week with a gain.

The comeback reversed a 611 point drop in the Dow Jones Industrial Average. The S&P 500 and Nasdaq eked out modest gains after having been down 2.8 and 3.3 percent, respectively.

Thursday's sharp swing in stocks followed their best day in 10 years. Even so, the market remains headed for what could be its steepest annual loss since the financial crisis.

The market's sharp downturn that began in October has intensified this month, erasing all of its 2018 gains and nudging the S&P 500 closer to its worst year since 2008. Even with the two-day winning streak, the Dow, S&P 500 and Nasdaq are all down more than 9 percent for the month and stocks are on track for their worst December since 1931.

"There are reasons we should be volatile, including a lot of unknowns as we head into 2019, starting with tariffs," said JJ Kinahan, chief markets strategist for TD Ameritrade, noting that below-average trading volume this time of year is also contributing to the market's volatility this week.

Prior to the two-day rally, the S&P 500 had fallen in 11 of 16 trading sessions in December, with five of the declines by 2 percent or more. Investors had grown worried that the testy U.S.-China trade dispute and higher interest rates would slow the economy, hurting corporate profits.

"The last two days are really demonstrable of what the market is struggling with," said Tom Martin, senior portfolio manager of Globalt Investments. "It's looking for a bottom. It's looking for a reason to gain a little more confidence. And it's also looking for opportunities to reposition and lessen risk."

Health care and technology companies, banks and industrial stocks accounted for much of the broad gains.

The S&P 500 index rose 21.13 points, or 0.9 percent, to 2,488.83. Earlier, it had been down more than 69 points. The Dow gained 260.37 points, or 1.1 percent, to 23,138.82. Both indexes rose about 5 percent Wednesday, when the Dow had its biggest-ever single-day point gain.

The tech-heavy Nasdaq added 25.14 points, or 0.4 percent, to 6,579.49. The Russell 2000 index of smaller-company stocks picked up 2.01 points, or 0.2 percent, 1,331.82.

Bonds prices rose. The yield on the 10-year Treasury slipped to 2.78 percent from 2.79 percent late Wednesday, although the yield dropped as low as 2.73 percent when stocks were near their lowest levels as investors sought safer investments.

Benchmark U.S. crude dropped 3.5 percent to settle at $44.61 a barrel in New York. Brent crude, used to price international oils, lost 4.2 percent to $52.16 a barrel in London.

The dollar fell to 110.74 yen from 111.36 yen on Wednesday. The euro strengthened to $1.1449 from $1.1351.

Gold edged up 0.6 percent to $1,281.10 an ounce and silver gained 1.2 percent to $15.31 an ounce. Copper fell 1.2 percent to $2.67 a pound.

Overseas, major indexes in Europe closed lower while markets in Asia mostly rose. The German DAX slid 2.4 percent, while the Nikkei 225 index rebounded 3.9 percent.


----------



## bigdog

The Dow Jones Industrial Average and S&P 500 rose more than 2 percent for the week, while the Nasdaq added nearly 4 percent. The indexes are still all down around 10 percent for the month and on track for their worst December since 1931.






https://www.usnews.com/news/busines...her-asian-stocks-gain-after-wall-street-rally

*Wall Street Faces Annual Losses Despite Solid Gains for Week*
Wall Street capped a week of volatile trading Friday with an uneven finish and the market's first weekly gain since November.

By ALEX VEIGA, AP Business Writer

Wall Street capped a week of volatile trading Friday with an uneven finish and the market's first weekly gain since November.

Losses in technology, energy and industrial stocks outweighed gains in retailers and other consumer-focused companies. Stocks spent much of the day wavering between small gains and losses, ultimately unable to maintain the momentum from a two-day winning streak.

Even so, the major stock indexes closed with their first weekly gain in what's been an otherwise painful last month of the year. The Dow Jones Industrial Average and S&P 500 rose more than 2 percent for the week, while the Nasdaq added nearly 4 percent. The indexes are still all down around 10 percent for the month and on track for their worst December since 1931.

"It seems like convulsions in either direction have been the real norm for much of December and that's certainly been the case this week," said Eric Wiegand senior portfolio manager for Private Wealth Management at U.S. Bank. "The initial push higher and then seeing it subside a little bit is perhaps getting back to a little bit more of a normal environment, reflecting the reality that we have still a number of issues overhanging the market."

The market's sharp downturn since October has intensified this month, erasing all its 2018 gains and nudging the S&P 500 closer to its worst year since 2008.

Investors have grown worried that the testy U.S.-China trade dispute and higher interest rates would slow the economy, hurting corporate profits. This week, with trading volumes lower than usual because of the Christmas holiday, served up some pronounced swings in the market.

A steep sell-off during the shortened trading session on Christmas Eve left the major indexes down more than 2 percent. On Wednesday, stocks mounted a stunning rebound, posting the market's best day in 10 years as the Dow shot up more than 1,000 points for its biggest single-day point gain ever.

The market appeared ready to give much of those gains back on Thursday, before a late-afternoon reversal that erased a 600-point drop in the Dow left the market with a two-day winning streak.

"The market was so oversold and then Wednesday and Thursday were key reversal days, but also stronger closes than opens," said Janet Johnston, portfolio manager at TrimTabs Asset Management.

"The market was starting to price in the worst-case scenario: a recession," Johnston said

Still, the market's downturn has left stocks substantially less expensive than they were heading into the fourth quarter, Johnston noted.

"And that sets up a good buying opportunity," she said.

On Friday, the S&P 500 index fell 3.09 points, or 0.1 percent, to 2,485.74. The Dow Jones Industrial Average dropped 76.42 points, or 0.3 percent, to 23,062.40. The average had briefly climbed to 243 points.

The Nasdaq added 5.03 points, or 0.1 percent, to 6,584.52. The Russell 2000 index of smaller-company stocks climbed 6.11 points, or 0.5 percent, 1,337.92.

Technology companies, a big driver of the market's gains before things deteriorated in October, were among the big decliners. Alliance Data Systems dropped 1.4 percent to $149.82.

Oil prices recovered after wavering in midmorning trading. Benchmark U.S. crude rose 1.6 percent to settle at $45.33 a barrel in New York. Brent crude, used to price international oils, inched up 0.1 percent to close at $52.20 a barrel in London.

Despite the rise in oil prices, energy sector stocks declined. Cabot Oil & Gas slid 3.5 percent to $22.95, while Hess lost 2.8 percent to $40.38.

Retailers and other consumer-focused companies fared better. Amazon rose 1.1 percent to $1,478.02.

Wells Fargo rose 0.5 percent to $45.78 on news that the lender has agreed to pay $575 million in a national settlement with state attorneys general over its fake bank accounts scandal. The San Francisco-based bank has acknowledged that its employees opened millions of unauthorized bank accounts for customers in order to meet unrealistic sales goals.

Tesla climbed 5.6 percent to $333.87 after naming two independent directors to its board under an agreement with federal regulators.

Homebuilders fell broadly in the morning after the National Association of Realtors said its pending home sales index fell last month as fewer Americans signed contracts to buy homes. Higher mortgage rates and prices are squeezing would-be buyers out of the market, especially in the West. The stocks mostly recovered by mid-afternoon. William Lyon Homes gained 3.4 percent to $10.81.

Bonds prices recovered after midday dip, sending the yield on the 10-year Treasury down to 2.72 percent from 2.74 percent late Thursday.

The dollar declined to 110.41 yen from Thursday's 110.74 yen. The euro weakened to $1.1442 from $1.1449.

Gold edged up 0.1 percent to $1,283 an ounce and silver gained 0.8 percent to $15.44 an ounce. Copper rose 0.5 percent to $2.68 a pound.

Overseas, major indexes in Europe closed higher while markets in Asia mostly rose. London's FTSE 100 gained 2.3 percent, while the Nikkei 225 index fell 0.3 percent.

9748


----------



## bigdog

*US stocks suffer worst year since 2008 financial crisis; S&P 500 sees 6.2 percent annual drop, Dow falls 5.6 percent*






https://www.usnews.com/news/busines...-mostly-higher-in-quiet-new-years-eve-trading

*US Stocks End Dismal, Volatile Year on a Bright Note*
Wall Street closed out a dismal, turbulent year for stocks on a bright note Monday, but still finished 2018 with the worst showing in a decade.

By ALEX VEIGA, AP Business Writer

Wall Street closed out a dismal, turbulent year for stocks on a bright note Monday, but still finished 2018 with the worst showing in a decade.

After setting a series of records through the late summer and early fall, major U.S. indexes fell sharply after early October, leaving them all in the red for the year.

The S&P 500 index, the market's main benchmark, finished the year with a loss of 6.2 percent. The last time the index fell for the year was in 2008 during the financial crisis. The S&P 500 also posted tiny losses in 2011 and 2015, but eked out small gains in both years once dividends were included.

The Dow Jones Industrial Average declined 5.6 percent. The Nasdaq composite sank 12.2 percent.

Major indexes in Europe also ended 2018 in the red. The CAC 40 of France finished the year down 11 percent. Britain's FTSE 100 lost 12.5 percent. Germany's DAX ended the year in a bear market, down 22 percent from a high in January and 18 percent from the start of the year.

"This has really been a challenging year for investors," said Jeff Kravetz, regional investment strategist at U.S. Bank Wealth Management. "This was really the year that market volatility returned with a vengeance."

Wall Street started 2018 strong, buoyed by a growing economy and corporate profits. Stocks climbed to new highs early, shook off a sudden, steep drop by spring and rode a wave of tax cut-juiced corporate earnings growth to another all-time high by September. Then the jitters set in.

Investors grew worried that the testy U.S.-China trade dispute and higher interest rates would slow the economy, hurting corporate profits. A slowing U.S. housing market and forecasts of weaker global growth in 2019 stoked traders' unease.

In October the market's gyrations grew more volatile.

The autumn sell-off knocked the benchmark S&P 500 index into a correction, or a drop of 10 percent from its all-time high, for the second time in nine months. A Christmas Eve plunge brought it briefly into bear market territory, or a drop of 20 percent from its peak, before closing just short of the threshold that would have meant the end of the market's nearly 10-year bull market run.

"For markets to move higher next year, we're going to have to resolve those issues," Kravetz said.

On Monday, the S&P 500 index rose 21.11 points, or 0.9 percent, to 2,506.85. The Dow gained 265.06 points, or 1.2 percent, to 23,327.46. The Nasdaq added 50.76 points, or 0.8 percent, to 6,635.28. The Russell 2000 index of smaller-company stocks picked up 10.64 points, or 0.8 percent, to 1,348.56.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.68 percent from 2.73 percent late Friday. The yield started off the year at 2.41 percent.

Health care stocks paved the way for Monday's modest gains. The sector ended the year with a 4.7 percent increase, to lead all other sectors in the S&P 500. Utilities were the only other sector to eke out an annual gain, adding 0.5 percent.

Technology companies, a big driver of the market's gains before things deteriorated in October, ended the year with a 1.6 percent loss. Three of the five so-called "FAANG" stocks — Facebook, Amazon, Apple, Netflix and Google parent Alphabet — ended 2018 lower. Amazon rose 28.4 percent, while Netflix jumped 39.4 percent.

Energy companies fared the worst, plunging 20.5 percent for the year, as the price of U.S. crude oil tumbled around 40 percent from a four-year peak of $76 a barrel in October.

On Monday, benchmark U.S. crude oil inched up 0.2 percent to settle at $45.41 a barrel in New York. Brent crude, the benchmark for international prices, gained 1.1 percent to $53.80 a barrel in London.

Trading will be closed Tuesday for New Year's Day.

Investors drew encouragement from a tweet from President Donald Trump on Sunday, in which the president said he had a "long and very good call" with Chinese President Xi Jinping. Trump added: "Deal is moving along very well. If made, it will be very comprehensive, covering all subjects, areas and points of dispute. Big progress being made."

Meanwhile, the official Xinhua News Agency cited a Chinese Foreign Ministry spokesman as saying that "China stands ready to work with the United States to move forward the China-U.S. ties which are underpinned by coordination, cooperation and stability."

Stocks also got a boost in early December when the U.S. and China agreed to a truce on trade, but then plunged when it was unclear what exactly both sides had agreed upon.

In other trading Monday, the dollar fell to 109.61 yen from 110.41 yen on Friday. The euro strengthened to $1.1445 from $1.1442.

Gold slipped 0.1 percent to $1,281.30 an ounce and silver gained 0.7 percent to $15.54 an ounce. Copper lost 1.9 percent to $2.63 a pound.

In other energy futures trading, wholesale gasoline slipped 0.2 percent to $1.32 a gallon. Heating oil rose 1 percent to $1.68 a gallon. Natural gas plunged 11 percent to $2.94 per 1,000 cubic feet.


https://finance.yahoo.com/news/trade-war-big-profits-wild-220036428.html

*US stocks suffer worst year since 2008 financial crisis; S&P 500 sees 6.2 percent annual drop, Dow falls 5.6 percent*

Wall Street started 2018 strong, buoyed by a growing economy and corporate profits. It didn't end that way.

U.S. stocks climbed to new highs in January, shook off a sudden, steep drop by spring and rode a wave of tax cut-juiced corporate earnings growth to another all-time high by September. Then the jitters set in.

Investors grew worried that the testy U.S.-China trade dispute and higher interest rates would slow the economy, hurting corporate profits. A slowing U.S. housing market and forecasts of weaker global growth in 2019 stoked traders' unease.

In October the market entered a volatile skid as traders sold technology companies and other growth sectors in favor of less-risky assets, such as government bonds.

The autumn sell-off knocked the benchmark S&P 500 index into a correction, or a drop of 10 percent from its all-time high. The index ended with its worst annual performance in a decade, losing 6.2 percent.

VIVA VOLATILITY

The stock market's gyrations grew more volatile in 2018 as investors faced uncertainty over trade and rising interest rates. The benchmark S&P 500 index slid into a "correction," or a drop of 10 percent from its high, twice this year. Bond yields surged as investors sought less risky investments, though gold weakened after rallying early in the year.

EVERYTHING STRUGGLED

"Diversify" is one of the bedrock tenets of investing, and it's supposed to shine brightest when markets are turbulent. The hope is that if U.S. stocks are struggling, markets in other areas of the world will be doing better. Or bonds. Or gold. This year, though, nearly everything has been a loser.

ECONOMIC HEADWINDS

The pace of global economic growth will slow next year, the Organization for Economic Cooperation and Development said recently. Trade growth and investment have been slackening on the back of tariff hikes, the Paris-based economic think tank says. It warns world economic activity could be weaker in the years ahead if the U.S. and China impose further penalties on each other's goods.

TRADE TREMORS

President Donald Trump said early this year that trade wars are good and "easy to win," but worries about the effect of tariffs on international trade — and corporate profits — have weighed on stocks. Boeing's stock became a proxy of sorts for investors as worries about trade waxed and waned. Boeing got more than half its revenue from abroad in the last year, including about 12 percent from China, according to FactSet.

PROFIT POWER

Corporate America's earnings growth surged in 2018, driven by lower tax bills and a growing economy. The strong results helped to briefly spur the stock market to new highs. More recently, investors have grown concerned that 2018 may be the peak for corporate profit growth, especially given recent signs that the global economy is slowing. That's one reason analysts are forecasting more modest earnings growth next year.

DO YOU SUBSCRIBE?

Facebook and Alphabet, Google's parent company, were longtime market favorites until mid-2018. Facebook faced controversies related to user privacy and concerns its services enabled election meddling and contributed to violence overseas. Analysts projected a slowdown in user growth. Investors also began to wonder if Facebook, Google, Snap and other tech companies will face new regulations. Twitter fared better after several rough years

OIL SLICK

Falling oil prices used to be welcome news in the U.S., but that was before the oil boom of the last decade. A drop in oil can still mean lower gas prices for drivers. But this year's 40 percent plunge from a four-year peak of about $76 a barrel in October is unequivocally bad news for the oil companies that have helped domestic production roughly double over the past seven years.

NOT HOME

The U.S. housing market stalled in 2018 as years of prices climbing faster than incomes coupled with a steady rise in mortgage rates took their toll. The higher borrowing costs and prices have put homeownership out of reach for many would-be buyers. Sales of existing homes posted their biggest annual drop in four years in October. Economists are forecasting further weakness in housing next year and higher mortgage rates.

BIG AND SMALL

Smaller stocks surged this spring as trade tensions dominated the headlines. Investors believed those companies, which do less business overseas compared to larger companies, would feel less pain during a prolonged trade dispute. But smaller companies are also weaker financially and are more likely to struggle when the U.S. economy slows, and Wall Street grew very worried about that possibility later in the year. That caused huge losses.

HIGH, AND LOW, TIMES

A majority of U.S. states have legalized marijuana to varying degrees, and companies are scrambling to get in on the action. Both the NYSE and Nasdaq saw their first purely cannabis companies list shares in 2018. But stocks in the companies that produce and sell marijuana have largely underperformed the overall market this year.


----------



## Skate

bigdog said:


> *US stocks suffer worst year since 2008 financial crisis; S&P 500 sees 6.2 percent annual drop, Dow falls 5.6 percent*
> 
> View attachment 91059
> 
> 
> https://www.usnews.com/news/busines...-mostly-higher-in-quiet-new-years-eve-trading
> 
> *US Stocks End Dismal, Volatile Year on a Bright Note*
> Wall Street closed out a dismal, turbulent year for stocks on a bright note Monday, but still finished 2018 with the worst showing in a decade.
> 
> By ALEX VEIGA, AP Business Writer
> 
> Wall Street closed out a dismal, turbulent year for stocks on a bright note Monday, but still finished 2018 with the worst showing in a decade.
> 
> After setting a series of records through the late summer and early fall, major U.S. indexes fell sharply after early October, leaving them all in the red for the year.
> 
> The S&P 500 index, the market's main benchmark, finished the year with a loss of 6.2 percent. The last time the index fell for the year was in 2008 during the financial crisis. The S&P 500 also posted tiny losses in 2011 and 2015, but eked out small gains in both years once dividends were included.
> 
> The Dow Jones Industrial Average declined 5.6 percent. The Nasdaq composite sank 12.2 percent.
> 
> Major indexes in Europe also ended 2018 in the red. The CAC 40 of France finished the year down 11 percent. Britain's FTSE 100 lost 12.5 percent. Germany's DAX ended the year in a bear market, down 22 percent from a high in January and 18 percent from the start of the year.
> 
> "This has really been a challenging year for investors," said Jeff Kravetz, regional investment strategist at U.S. Bank Wealth Management. "This was really the year that market volatility returned with a vengeance."
> 
> Wall Street started 2018 strong, buoyed by a growing economy and corporate profits. Stocks climbed to new highs early, shook off a sudden, steep drop by spring and rode a wave of tax cut-juiced corporate earnings growth to another all-time high by September. Then the jitters set in.
> 
> Investors grew worried that the testy U.S.-China trade dispute and higher interest rates would slow the economy, hurting corporate profits. A slowing U.S. housing market and forecasts of weaker global growth in 2019 stoked traders' unease.
> 
> In October the market's gyrations grew more volatile.
> 
> The autumn sell-off knocked the benchmark S&P 500 index into a correction, or a drop of 10 percent from its all-time high, for the second time in nine months. A Christmas Eve plunge brought it briefly into bear market territory, or a drop of 20 percent from its peak, before closing just short of the threshold that would have meant the end of the market's nearly 10-year bull market run.
> 
> "For markets to move higher next year, we're going to have to resolve those issues," Kravetz said.
> 
> On Monday, the S&P 500 index rose 21.11 points, or 0.9 percent, to 2,506.85. The Dow gained 265.06 points, or 1.2 percent, to 23,327.46. The Nasdaq added 50.76 points, or 0.8 percent, to 6,635.28. The Russell 2000 index of smaller-company stocks picked up 10.64 points, or 0.8 percent, to 1,348.56.
> 
> Bond prices rose. The yield on the 10-year Treasury note fell to 2.68 percent from 2.73 percent late Friday. The yield started off the year at 2.41 percent.
> 
> Health care stocks paved the way for Monday's modest gains. The sector ended the year with a 4.7 percent increase, to lead all other sectors in the S&P 500. Utilities were the only other sector to eke out an annual gain, adding 0.5 percent.
> 
> Technology companies, a big driver of the market's gains before things deteriorated in October, ended the year with a 1.6 percent loss. Three of the five so-called "FAANG" stocks — Facebook, Amazon, Apple, Netflix and Google parent Alphabet — ended 2018 lower. Amazon rose 28.4 percent, while Netflix jumped 39.4 percent.
> 
> Energy companies fared the worst, plunging 20.5 percent for the year, as the price of U.S. crude oil tumbled around 40 percent from a four-year peak of $76 a barrel in October.
> 
> On Monday, benchmark U.S. crude oil inched up 0.2 percent to settle at $45.41 a barrel in New York. Brent crude, the benchmark for international prices, gained 1.1 percent to $53.80 a barrel in London.
> 
> Trading will be closed Tuesday for New Year's Day.
> 
> Investors drew encouragement from a tweet from President Donald Trump on Sunday, in which the president said he had a "long and very good call" with Chinese President Xi Jinping. Trump added: "Deal is moving along very well. If made, it will be very comprehensive, covering all subjects, areas and points of dispute. Big progress being made."
> 
> Meanwhile, the official Xinhua News Agency cited a Chinese Foreign Ministry spokesman as saying that "China stands ready to work with the United States to move forward the China-U.S. ties which are underpinned by coordination, cooperation and stability."
> 
> Stocks also got a boost in early December when the U.S. and China agreed to a truce on trade, but then plunged when it was unclear what exactly both sides had agreed upon.
> 
> In other trading Monday, the dollar fell to 109.61 yen from 110.41 yen on Friday. The euro strengthened to $1.1445 from $1.1442.
> 
> Gold slipped 0.1 percent to $1,281.30 an ounce and silver gained 0.7 percent to $15.54 an ounce. Copper lost 1.9 percent to $2.63 a pound.
> 
> In other energy futures trading, wholesale gasoline slipped 0.2 percent to $1.32 a gallon. Heating oil rose 1 percent to $1.68 a gallon. Natural gas plunged 11 percent to $2.94 per 1,000 cubic feet.
> 
> 
> https://finance.yahoo.com/news/trade-war-big-profits-wild-220036428.html
> 
> *US stocks suffer worst year since 2008 financial crisis; S&P 500 sees 6.2 percent annual drop, Dow falls 5.6 percent*
> 
> Wall Street started 2018 strong, buoyed by a growing economy and corporate profits. It didn't end that way.
> 
> U.S. stocks climbed to new highs in January, shook off a sudden, steep drop by spring and rode a wave of tax cut-juiced corporate earnings growth to another all-time high by September. Then the jitters set in.
> 
> Investors grew worried that the testy U.S.-China trade dispute and higher interest rates would slow the economy, hurting corporate profits. A slowing U.S. housing market and forecasts of weaker global growth in 2019 stoked traders' unease.
> 
> In October the market entered a volatile skid as traders sold technology companies and other growth sectors in favor of less-risky assets, such as government bonds.
> 
> The autumn sell-off knocked the benchmark S&P 500 index into a correction, or a drop of 10 percent from its all-time high. The index ended with its worst annual performance in a decade, losing 6.2 percent.
> 
> VIVA VOLATILITY
> 
> The stock market's gyrations grew more volatile in 2018 as investors faced uncertainty over trade and rising interest rates. The benchmark S&P 500 index slid into a "correction," or a drop of 10 percent from its high, twice this year. Bond yields surged as investors sought less risky investments, though gold weakened after rallying early in the year.
> 
> EVERYTHING STRUGGLED
> 
> "Diversify" is one of the bedrock tenets of investing, and it's supposed to shine brightest when markets are turbulent. The hope is that if U.S. stocks are struggling, markets in other areas of the world will be doing better. Or bonds. Or gold. This year, though, nearly everything has been a loser.
> 
> ECONOMIC HEADWINDS
> 
> The pace of global economic growth will slow next year, the Organization for Economic Cooperation and Development said recently. Trade growth and investment have been slackening on the back of tariff hikes, the Paris-based economic think tank says. It warns world economic activity could be weaker in the years ahead if the U.S. and China impose further penalties on each other's goods.
> 
> TRADE TREMORS
> 
> President Donald Trump said early this year that trade wars are good and "easy to win," but worries about the effect of tariffs on international trade — and corporate profits — have weighed on stocks. Boeing's stock became a proxy of sorts for investors as worries about trade waxed and waned. Boeing got more than half its revenue from abroad in the last year, including about 12 percent from China, according to FactSet.
> 
> PROFIT POWER
> 
> Corporate America's earnings growth surged in 2018, driven by lower tax bills and a growing economy. The strong results helped to briefly spur the stock market to new highs. More recently, investors have grown concerned that 2018 may be the peak for corporate profit growth, especially given recent signs that the global economy is slowing. That's one reason analysts are forecasting more modest earnings growth next year.
> 
> DO YOU SUBSCRIBE?
> 
> Facebook and Alphabet, Google's parent company, were longtime market favorites until mid-2018. Facebook faced controversies related to user privacy and concerns its services enabled election meddling and contributed to violence overseas. Analysts projected a slowdown in user growth. Investors also began to wonder if Facebook, Google, Snap and other tech companies will face new regulations. Twitter fared better after several rough years
> 
> OIL SLICK
> 
> Falling oil prices used to be welcome news in the U.S., but that was before the oil boom of the last decade. A drop in oil can still mean lower gas prices for drivers. But this year's 40 percent plunge from a four-year peak of about $76 a barrel in October is unequivocally bad news for the oil companies that have helped domestic production roughly double over the past seven years.
> 
> NOT HOME
> 
> The U.S. housing market stalled in 2018 as years of prices climbing faster than incomes coupled with a steady rise in mortgage rates took their toll. The higher borrowing costs and prices have put homeownership out of reach for many would-be buyers. Sales of existing homes posted their biggest annual drop in four years in October. Economists are forecasting further weakness in housing next year and higher mortgage rates.
> 
> BIG AND SMALL
> 
> Smaller stocks surged this spring as trade tensions dominated the headlines. Investors believed those companies, which do less business overseas compared to larger companies, would feel less pain during a prolonged trade dispute. But smaller companies are also weaker financially and are more likely to struggle when the U.S. economy slows, and Wall Street grew very worried about that possibility later in the year. That caused huge losses.
> 
> HIGH, AND LOW, TIMES
> 
> A majority of U.S. states have legalized marijuana to varying degrees, and companies are scrambling to get in on the action. Both the NYSE and Nasdaq saw their first purely cannabis companies list shares in 2018. But stocks in the companies that produce and sell marijuana have largely underperformed the overall market this year.




*Dow Jones Industrial Average*
31/12/2018 DJIA - *23,327.46* +265.06 (1.15%)

*PREVIOUS CLOSE*
23,062.40

Skate.


----------



## bigdog

Trading will be closed Tuesday for New Year's Day in most parts of the world

Thanks Skate;
I missed the DOW line once before now included above


----------



## bigdog

Updated Index table with all (previous table excluded Dow 30)


----------



## bigdog

*NYSE  FUTURES ARE A CONCERN AT 5:40 am NY time



*










https://www.usnews.com/news/busines...stocks-skid-after-weak-china-factory-readings
*Global Stocks Skid After Weak China Factory Readings*
Asian stock markets fall as 2019 trading begins after Chinese manufacturing weakens.

By JOE McDONALD, AP Business Writer

BEIJING (AP) — Global stock markets tumbled Wednesday as 2019 trading began with news of weaker Chinese manufacturing.

KEEPING SCORE: In early trading, France's CAC 40 plunged 2.3 percent to 4,618.90 and Germany's DAX retreated 1.1 percent to 10,441.67. On Monday, the CAC rose 1.1 percent but it ended 2018 down about 11 percent. London's FTSE 100 retreated 0.1 percent for an annual loss of 12.5 percent. Germany's DAX rose 1.7 percent Friday on its last trading day of 2018 but ended the year down 18 percent. On Wall Street, the future for the Standard & Poor's 500 index was off 1.9 percent and that for the Dow Jones Industrial Average also was down 1.9 percent.

ASIA'S DAY: The Shanghai Composite Index fell 1.2 percent to 2,465.29 and Hong Kong's Hang Seng lost 2.8 percent to 25,130.35. Seoul's Kospi gave up 1.5 percent to 2,010.00 and Sydney's S&P-ASX 200 sank 1.2 percent to 5,557.80. India's Sensex shed 1.2 percent to 35,817.25 and Singapore and Taiwan also declined. Bangkok and Manila advanced. Tokyo's markets were closed.

CHINESE FACTORIES: A government survey and one by a major business magazine showed Chinese manufacturing weakened in December as global and domestic demand cooled. Forecasters said that could send shockwaves through Asian economies that supply raw materials and components. Chinese export growth has held up as producers rushed to fill orders before possible new U.S. tariff hikes in Washington's trade battle with Beijing, but forecasters said that effect may be fading.

ANALYST'S COMMENT: The Chinese slowdown "raises a few red flags," said Mizuho Bank's Vishnu Varathan in a report. The slide is "potentially symptomatic of far sharper underlying demand pullback," said Varathan. China's extensive trade ties with its neighbors mean it "will reverberate more widely to other Asian exporters."

US-CHINA TRADE TALKS: Investors are looking ahead to talks this month aimed at settling a U.S.-Chinese tariff battle that threatens to dampen global economic growth. Presidents Donald Trump and Xi Jinping agreed Dec. 1 to a 90-day suspension of further tariff hikes in their fight over Beijing's technology policy but left in place penalties already imposed. No date has been announced but both sides have expressed interest in a settlement. Economists say the 90-day window is likely too small to resolve the full range of issues that bedevil their relations.

NORTH KOREA: Leader Kim Jong Un expressed hope for extending nuclear talks with Trump this year but said Pyongyang is ready to take a different path if Washington "misjudges the patience of our people." Some analysts say North Korea has been trying to drive a wedge between Washington and Seoul and put the burden for action on the United States. Pyongyang has accused Washington of failing to respond to its dismantling of a nuclear testing ground and suspension of nuclear and long-range missile tests.

CHINA-TAIWAN: Xi said Beijing is "willing to create a vast space for peaceful unification" with Taiwan but warned the mainland will not tolerate moves toward formal independence for the self-ruled island. The two sides split in 1949 after a civil war but have extensive trade and investment ties. Taiwanese President Tsai Ing-wen said Monday gains by a Beijing-friendly opposition party in local elections "absolutely don't mean" the island's public "want us to give ground on our autonomy."

CURRENCY: The dollar declined to 108.98 yen from Monday's 109.67. The euro retreated to $1.1441 from $1.1466.

ENERGY: Benchmark U.S. crude lost 76 cents to $44.65 per barrel in electronic trading on the New York Mercantile Exchange. The contract gained 8 cents on Monday to close at $45.41. Brent crude, used to price international oils, slumped 94 cents to $52.86 per barrel in London. It added 59 cents the previous session to close at $53.80.


----------



## bigdog

The roller-coaster ride on Wall Street resumed on Wednesday, the first trading day of the new year, as stocks plunged early on, then slowly recovered and finished with a slight gain.

The Dow Jones was as much as 400 points or 1.7% lower at one stage before bank and tech shares rebounded to put the index in positive territory.






https://www.usnews.com/news/busines...stocks-skid-after-weak-china-factory-readings

*The Stock Market Starts off 2019 With More Turbulence*
Stocks finish the first trading day of 2019 with small gains as a roller-coaster ride continues for the market.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — The roller-coaster ride on Wall Street resumed on Wednesday, the first trading day of the new year, as stocks plunged early on, then slowly recovered and finished with a slight gain.

The Dow Jones Industrial Average dropped as much as 398 points in the first few minutes of trading after more shaky economic news from China. But it gradually recouped those losses, and a small rally over the last 15 minutes of trading left major indexes a bit higher than where they started.

That kind of whiplash was typical during the last three months of 2018, and many strategists think it is likely to continue.

A Chinese government survey and one by a major business magazine showed manufacturing in China weakened in December as global and domestic demand cooled. That weighed on big exporters, with tech companies like Microsoft and industrials like Boeing taking sharp losses early on, only to bounce back.

Some of last year's worst performers, including energy and internet companies, led the gains Wednesday.

After gliding gently higher for years, propelled by rising corporate profits and extremely low interest rates from the Federal Reserve, stocks have been heaving up and down in recent months as a host of fears weigh on investors, including threats to global economic growth.

Stocks are coming off their worst year in a decade, and many Americans could be in for a shock when they open their monthly and end-of-the-year 401(k) statements.

The benchmark S&P 500 fell 6 percent in 2018, its first substantial loss since 2008, and dropped 14 percent since late September. Many other stock indexes around the world fared even worse last year.

The U.S. economy has been expanding for almost a decade, and stocks have risen steadily over that time. From September through the end of December, however, investors became more and more worried that challenges such as U.S.-China trade tensions, rising interest rates and political uncertainty could slow the economy and company profits, and possibly tip the U.S. economy and the global one into a recession.

Many Wall Street banks are forecasting a year of modest gains for stocks. But most also say they expect these sharp reversals to continue as investors try to handicap so many unknowns.

Vinay Pande, head of trading strategies for UBS Global Wealth Management, said company earnings jumped in 2018 and are likely to keep improving.

The S&P 500 index finished with a gain of 3.18 points, or 0.1 percent, at 2,510.03, while the Dow rose 18.78 points, or 0.1 percent, to 23,346.24. The Nasdaq composite climbed 30.66 points, or 0.5 percent, to 6,665.94.

Most markets were closed on Tuesday for New Year's Day.

Prices on long-term government bonds rose, a sign investors were looking for safer options. The yield on the 10-year Treasury note fell to 2.65 percent from 2.69 percent.

After sharp losses at the start of trading, benchmark U.S. crude jumped 2.5 percent to $46.54 per barrel in New York. Brent crude, used to price international oils, rose 2.1 percent to $54.91 per barrel in London. Those gains helped send energy stocks higher.

Oil prices have fallen about 40 percent since early October 2018 as investors reacted to the possibility of weaker demand for energy as economic growth slowed. That led to sharp drops in energy companies.

Julian Emanuel, chief equity and derivatives strategist for BTIG, said investors often start a new year by buying shares of the companies that did the worst the year before.

Meanwhile, health care companies, the best-performing part of the market in 2018, fell Wednesday as drugmakers and insurers lost ground.

In other trading:

—The dollar fell to 109.21 yen from 109.61 yen. The euro fell to $1.1344 from $1.1445. The British pound slid to $1.2609 from $1.2752.

—France's CAC 40 fell 0.9 percent and the British FTSE 100 added 0.1 percent. Germany's DAX rose 0.2 percent. Hong Kong's Hang Seng tumbled 2.8 percent and Seoul's Kospi gave up 1.5 percent. Tokyo's markets were closed.

— Wholesale gasoline rose 1.8 percent to $1.33 a gallon. Heating oil gained 1.3 percent to $1.70 a gallon. Natural gas rose 0.6 percent to $2.96 per 1,000 cubic feet.

— Gold rose 0.2 percent to $1,284.10 an ounce and silver added 0.7 percent to $15.65 an ounce. Copper fell 0.3 percent to $2.62 a pound.


----------



## bigdog

DUMP TRUMP

Stocks tumbled Thursday on Wall Street, with technology companies suffering their worst loss in seven years, after Apple reported that iPhone sales in China are slumping.

The Dow Jones Industrial Average plunged 660 points or -2.83%, and the broader S&P 500 index fell 2.5 percent.






https://www.usnews.com/news/busines...mixed-shanghai-down-after-apple-sales-warning

*Stocks Dive After Apple Says IPhone Sales in China Slowed*
US stocks plunge after Apple warned that iPhone sales in China are slowing down, reinforcing investors' fears that global economic growth is weakening.
Jan. 3, 2019, at 4:24 p.m

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks tumbled Thursday on Wall Street, with technology companies suffering their worst loss in seven years, after Apple reported that iPhone sales in China are slumping.

The rare warning of disappointing results from Apple reinforced investors' fears that the world's second-biggest economy is losing steam and that trade tensions between Washington and Beijing are making things worse.

The Dow Jones Industrial Average plunged 660 points, and the broader S&P 500 index fell 2.5 percent.

Apple stock plummeted 10 percent, erasing more than $74 billion in market value. Technology companies and other major exporters, including heavy-machinery companies, also took big losses.

Some of the worst drops were at chipmakers that make components used in smartphones and other gadgets.

"For a while now there's been an adage in the markets that as long as Apple was doing fine, everyone else would be OK," said Neil Wilson, chief markets analyst at Markets.com. "Therefore, Apple's rare profit warning is a red flag for market watchers. The question is to what extent this is more Apple-specific."

Investors were also unsettled by a report Thursday that showed signs of weakness in U.S. manufacturing.

The U.S.-China trade dispute threatens to snarl multinational companies' supply lines and reduce demand for their products. Companies such as General Motors, Caterpillar and Daimler have all said recently that trade tensions, combined with slower growth in China, were damaging their businesses.

"When the largest and second-largest economies in the world get into a trade dispute, the rest of the world's going to feel the effects. That's what we're seeing now," said Jack Ablin, chief investment officer of Cresset Wealth Advisors.

In a letter to shareholders Wednesday, Apple CEO Tim Cook said iPhone demand is waning in China and would hurt revenue for the October-December quarter. Cook said Apple expects revenue of $84 billion for the quarter. That's $7 billion less than analysts expected.

Cook's comments echoed the concerns that have pushed investors to flee the stock market over the last three months. Many global indexes posted their worst year in a decade amid concerns about the global economy and the prospect of further U.S. interest rate increases.

The S&P 500 lost 62.14 points to 2,447.89. The Dow slid 2.8 percent to 22,868.22. The Nasdaq, which has a high concentration of tech stocks, retreated 202.43 points, or 3 percent, to 6,463.50.

U.S. government bond prices surged, sending yields to their lowest level in almost a year, and gold and high-dividend stocks like utilities also rose as investors looked for safer places to put their money.

A weak report Thursday on U.S. manufacturing also weighed on the market. The Institute for Supply Management said its index of manufacturing fell to its lowest level in two years, and new orders have fallen sharply since November. Manufacturing is still growing, but at a slower pace than it has recently.

Apple's stock has slumped 39 percent since early October. The company also recently announced that it would stop disclosing how many iPhones it sold each quarter, a move many investors suspected was an attempt to hide bad news.

Apple took its biggest loss in six years Thursday and ended at $142.19. Microsoft shed 3.7 percent to $97.40. Among chip makers, Intel fell 5.5 percent to $44.49. The S&P 500 technology companies had their worst day since August 2011.

Among big industrial companies, Caterpillar gave up 3.9 percent to $121.51, and Deere lost 2.7 percent to $144.05. Boeing, which sells many of its planes in China, declined 4 percent to $310.90.

Companies that make heavy machinery such as construction equipment are facing less demand as China's economy, the largest in the world after the U.S., loses strength. They are also dealing with higher costs for metals as a result of tariffs.

Markets overseas also stumbled. Germany's DAX dropped 1.5 percent and the French CAC 40 fell 1.7 percent, and Britain's FTSE 100 gave up 0.6 percent. In Asia, tech-related stocks suffered most. South Korea's Kospi ended 0.8 percent lower and Hong Kong's Hang Seng gave up 0.3 percent.

Oil prices edged higher. U.S. crude rose 1.2 percent to $47.09 a barrel in New York and Brent crude rose 1.9 percent to $55.95 a barrel in London. Oil prices have nosedived almost 40 percent since early October, and investors' fears about falling demand in China and elsewhere were a key reason for the decline.

The yield on the 2-year Treasury note slid to 2.39 percent from 2.50 percent, and the yield on the 10-year note sank to 2.56 percent from 2.66 percent. Both were large moves.

The dollar weakened. It fell to 107.777 yen from 109.21 yen. The euro rose to $1.1391 from $1.344. The British pound fell to $1.2630 from $1.2690.

Gold climbed 0.8 percent to $1,294.80 an ounce. Silver rose 0.9 percent to $15.80 an ounce. Copper, which is used in construction and wiring, fell 2.1 percent to $2.57 a pound.

In other commodities trading, wholesale gasoline rose 1.8 percent to $1.35 a gallon and heating oil climbed 2.4 percent to $1.74 a gallon. Natural gas fell 0.4 percent to $2.95 per 1,000 cubic feet.


----------



## bigdog

Global stocks soared Friday and reversed the big losses they suffered just a day earlier. The Dow Jones Industrial Average rallied 746 points in the latest twist in a wild three months for markets.






https://www.usnews.com/news/busines...s-skid-shanghai-climbs-after-wall-st-sell-off

*Stocks Swing to Huge Gains After Jobs Report, Trade Talks*
Stocks soar on Wall Street, erasing the plunge they took a day earlier, as a string of encouraging developments relieve investors who have been worried about the U.S. economy.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Global stocks soared Friday and reversed the big losses they suffered just a day earlier. The Dow Jones Industrial Average rallied 746 points in the latest twist in a wild three months for markets.

Hopes for progress in the U.S.-China trade dispute, a strong report on the U.S. jobs market and encouraging comments from the head of the U.S. central bank about its interest rate policy all combined to cheer investors.

China's Commerce Ministry said trade talks will be held Monday and Tuesday in Beijing, and investors will again look for signs the world's largest economic powers are resolving their dispute. The tensions have dragged on for nearly a year, slowing business and dragging down stock indexes worldwide.

Meanwhile the Labor Department said U.S. employers added 312,000 jobs last month, a far stronger result than experts had anticipated. U.S. stocks have tumbled since October as investors worried that the economy might slow down dramatically because of challenges including the trade dispute and rising interest rates.

The stock market's plunge also threatened to shake up the confidence and the spending plans of businesses and consumers. Some analysts said investors were acting as if a recession was on the horizon, despite a lack of evidence that the U.S. economy is struggling.

"It's hard to square recession worries with the strongest job growth we've seen in years," said Alec Young, managing director of global markets research for FTSE Russell.

Stocks rose even further after Federal Reserve Chairman Jerome Powell said the central bank will be flexible in deciding if and when it raises interest rates. He added that the Fed is open to making changes in the way it shrinks its giant portfolio of bonds, which affects rates on long-term loans such as mortgages.

Until recently, the Fed had suggested it planned to raise short-term interest rates three times this year and next, and Powell said the Fed's balance sheet was shrinking "on auto-pilot." Wall Street feared that the Fed might be moving too fast in raising borrowing costs, said Phil Orlando, chief equity market strategist at Federated Investors.

The Fed's interest-rate and bond portfolio policies "were at the top of the list of things we were concerned about, which is why the statement Powell made today is so supportive of the market," Orlando said. "The Fed understands that what they attempted to communicate last month was inartful, that they didn't get the right message across, and Powell tried to reset."

The S&P 500 index climbed 84.05 points, or 3.4 percent, to 2,531.94, more than wiping out Thursday's loss. The Dow rose 3.3 percent to 23,433.16 after gaining 832 during the afternoon. The Nasdaq composite jumped 275.35 points, or 4.3 percent, to 6,738.86.

About 90 percent of the stocks on the New York Stock Exchange traded higher.

Stocks sank Thursday after Apple said iPhone sales in China are falling, partly because of the trade fight, and a survey suggested U.S. factories grew at a weaker pace. Technology companies took their biggest losses in seven years.

The U.S. and China have raised tariffs on billions of dollars of each other's goods in a fight over issues including Beijing's technology policy. Last month, President Donald Trump and Chinese leader Xi Jinping agreed to 90-day ceasefire as a step toward defusing tensions, but that failed to calm the stock market.

Technology companies, banks, health care and industrial companies all made strong gains. Most of the companies in those industries stand to do better in times of faster economic growth.

Smaller and more U.S.-focused companies did even better than larger multinationals. The Russell 2000 index surged 49.92 points, or 3.8 percent, to 1,380.75. Smaller companies have fallen further than larger ones in the last few months as investors got nervous about how the U.S. economy will perform in 2019 and 2020.

Stocks have whipsawed between huge gains and losses for the last few weeks after their big December plunge. Katie Nixon, the chief investment officer for Northern Trust Wealth Management, said investors will continue to react to the health of the economy, and to concerns about high levels of corporate debt as interest rates rise.

"We don't expect that this will be the end to the volatility," she said. "There's mounting evidence we're going to see a slowdown," albeit not a severe one.

Bond prices also changed course and moved sharply lower. The yield on the 10-year Treasury note rose to 2.66 percent after it plunged to 2.55 percent Thursday, its lowest in almost a year. That helps banks, as higher interest rates allow them to make bigger profits on mortgages and other loans.

European shares also overcome losses from a day earlier, with Germany's DAX gaining 3.4 percent and France's CAC 40 rising 2.7 percent. Britain's FTSE 100 advanced 2.2 percent.

In Asia, Hong Kong's Hang Seng jumped 2.2 percent. South Korea's Kospi added 0.8 percent. Japan's Nikkei 225 index fell 2.3 percent on its first day of trading in 2019 as technology and electronics makers slumped on Apple's report that Chinese iPhone sales were slipping.

U.S. crude oil added 1.8 percent to $47.96 a barrel in New York. Brent crude, used to price international oils, was up 2 percent to $57.06 per barrel in London.

The dollar strengthened. It rose to 108.51 yen from 107.77 yen. The euro rose to $1.14 from $1.1391. The British pound moved up to $1.2740 from $1.2630.

Wholesale gasoline dipped 0.1 percent to $1.35 a gallon and heating oil added 1.6 percent to $1.77 a gallon. Natural gas rose 3.4 percent to $3.04 per 1,000 cubic feet.

In other trading, gold fell 0.7 percent to $1,285.80 an ounce and silver slipped 0.1 percent to $15.79 an ounce. Copper rose 3.1 percent to $2.65 a pound.

0200


----------



## bigdog

Stocks rose again Monday, led by gains in retailers and smaller companies after a report showed strong orders last month for service-sector companies, where most Americans work. Investors were also encouraged by the resumption of trade talks between the U.S. and China.





https://www.usnews.com/news/busines...ds-asia-jumps-on-us-data-as-trade-talks-begin

*Stocks Climb on Trade Talks and Encouraging Economic Report*
Stocks rise again on Wall Street following another encouraging signal on the economy, this time on growth in service-sector companies, and as the U.S. and China begin a new round of trade talks.
Jan. 7, 2019, at 4:50 p.m. 

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks rose again Monday, led by gains in retailers and smaller companies after a report showed strong orders last month for service-sector companies, where most Americans work. Investors were also encouraged by the resumption of trade talks between the U.S. and China.

That helped stocks build on the huge gains they made Friday. The U.S. economy has been a top concern for investors over the last three months, and the strong report on service companies showed that banks, health care and construction companies were holding up well.

Dollar stores and other retailers, clothing companies and car makers all climbed. Amazon surpassed Microsoft to become the most valuable publicly-traded company. The two-day gain followed a huge pullback last Thursday, when a weak report on manufacturing helped send large multinational companies sharply lower.

"The portion of the economy that's domestically focused is doing better than the portion that is exporting, and arguably that is coming from the trade winds and the tensions we see from that," said Jason Pride, chief investment officer of private clients at Glenmede.

The S&P 500 added 17.75 points, or 0.7 percent, to 2,549.69. The index, a benchmark for many mutual funds, closed at its highest in more than three weeks, and it's risen 8.4 percent since Dec. 24. It's still 13 percent below the record high it reached late September.

The Dow Jones Industrial Average climbed 98.19 points, or 0.4 percent, to 23,531.35. The Nasdaq gained 84.61 points, or 1.3 percent, to 6,823.47.

Smaller companies, which tend to be more closely linked to how well the domestic economy is doing, did far better than the rest of the market. The Russell 2000 jumped 24.62 points, or 1.8 percent, to 1,405.37.

While trading has been rough over the last two weeks, stocks have moved higher as investors hoped that the U.S. and China will finally make progress in trade talks. But Wall Street is fearful that the trade dispute is far from a resolution. The U.S. and China both placed tariffs on billions of dollars' worth of each other's exports in 2018, and those taxes are likely to rise in March if they don't make progress in negotiations.

Reports of the latest round of trade discussions contributed to the market's big rally Friday.

"This is the biggest wild card, because you don't know exactly how these parties are going to reach an agreement," said Pride. "Just keeping the tariffs that have been announced so far and not going ahead with new ones would be a positive surprise for the market."

Amazon rose 3.4 percent to $1,629.51, bringing its value to $796.8 billion, compared to $783.6 billion for Microsoft.

Dollar Tree rose after activist investment firm Starboard value disclosed a stake in the discount retailer and pushed the company to consider selling the Family Dollar chain it bought in 2015. It nominated seven candidates for seats on Dollar Tree's board of directors. The stock climbed 5.5 percent to $97.96. Elsewhere, Target gained 4.9 percent to $69.68.

Oil prices continued their recent rally. U.S. crude rose 1.2 percent to $48.52 per barrel in New York. After sinking to an 18-month low of $42.53 a barrel on Dec. 24, the price of U.S. crude has risen for seven of the last eight trading days. Brent crude, used to price international oils, rose 0.5 percent to $57.33 per barrel in London.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.69 percent from 2.65 percent.

The parent company of Pacific Gas & Electric plunged after Reuters reported that the company might file for bankruptcy protection as it faces potentially huge liabilities connected to deadly wildfires in California in 2017 and 2018. The company's stock dropped 22.3 percent to $18.95. PG&E traded at almost $70 a share in October 2017 and about $48 in November 2018.

In the second big pharmaceutical deal of 2019, Eli Lilly will buy Loxo Oncology for about $8 billion as it bulks up on cancer treatments that target gene abnormalities. Loxo soared 66.3 percent to $232.65 and Lilly added 0.5 percent to $115.28.

On Thursday Bristol-Myers Squibb agreed to buy Celgene for $74 billion, one of the largest drug industry acquisitions of all time.

Shares of the companies that run stock exchanges fell after a group of nine banks, brokers and other companies said they are planning to launch a new exchange. The companies said their Members Exchange will reduce costs and simplify trading.

Nasdaq fell 2.6 percent to $79.81 and Intercontinental Exchange, the parent company of the New York Stock Exchange, fell 3 percent to $73.38.

Mattel jumped 7.7 percent to $11.21 after the toy company said it's gained the rights to make dolls of the South Korean pop band BTS. Last year BTS became the first K-Pop group to reach the top slot on the Billboard Top 200. The licensing agreement also covers collectible figures and games.

In other commodities trading, wholesale gasoline dipped 0.5 percent to $1.34 a gallon and heating oil rose 0.5 percent to $1.78 a gallon. Natural gas sank 3.3 percent to $2.94 per 1,000 cubic feet.

Gold rose 0.3 percent to $1,289.90 an ounce. Silver slipped 0.2 percent to $15.76 an ounce. Copper fell 0.4 percent to $2.64 a pound.

The dollar rose to 108.59 yen from 108.51 yen. The euro rose to $1.1478 from $1.1400.

Germany's DAX shed 0.2 percent and the FTSE 100 in Britain and CAC 40 France both fell 0.4 percent.

The Japanese Nikkei 225 index gained 2.4 percent, while South Korea's Kospi rose 1.3 percent. Hong Kong's Hang Seng climbed 0.8 percent.


----------



## bigdog

Stocks climbed for the third day in a row Tuesday as the latest round of trade talks between Washington and Beijing continued. It's the longest winning streak for U.S. indexes since late November.

News reports said the trade negotiations would be extended to a third day, a potential positive sign even though no major developments have been announced so far. Experts say it will take months for them to resolve the causes of the trade war, which include disagreements over Beijing's handling of technology and intellectual property.






https://www.usnews.com/news/busines...ixed-as-officials-mum-on-china-us-trade-talks

*Stocks Rise Again as Investors Hope for Trade Breakthrough*
Stocks rise for the third day in a row, led by industrial, technology, internet and energy companies as representatives from the U.S. and China continue their latest round of trade talks.
Jan. 8, 2019, at 4:32 p.m

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks climbed for the third day in a row Tuesday as the latest round of trade talks between Washington and Beijing continued. It's the longest winning streak for U.S. indexes since late November.

News reports said the trade negotiations would be extended to a third day, a potential positive sign even though no major developments have been announced so far. Experts say it will take months for them to resolve the causes of the trade war, which include disagreements over Beijing's handling of technology and intellectual property.

Investors have become notably more optimistic about an eventual deal, a sharp reversal of the concerns that helped send stocks plunging in October and December. An agreement between the two biggest economic powers in the world could remove a major obstacle to global economic growth, and many of the biggest gains Tuesday went to companies that usually do better in times of faster growth, including internet, technology and industrial stocks. Oil prices also kept rallying.

Kate Warne, an investment strategist for Edward Jones, said the market's large moves in recent weeks reflect investors' questions about major issues including economic growth, the threats of recession and trade tensions, and rising interest rates. She said it's normal for stocks to repeatedly change course as traders grapple with those issues on a day-to-day basis.

"You have new information that's driving stock prices both higher and lower, and that's pretty typical when there's uncertainty and there's a lot of new information coming into the market," she said.

Warne added that trading on Wall Street is typically light during the holidays, and that may have contributed to the huge swings in late December and early January.

The S&P 500 index rose 24.72 points, or 1 percent, to 2,574.41. The Dow Jones Industrial Average picked up 256.10 points, or 1.1 percent, to 23,787.45.

The Nasdaq composite climbed 73.53 points, or 1.1 percent, to 6,897. The Russell 2000 index of smaller-company stocked gained 21.19 points, or 1.5 percent, to 1,426.55.

Railroad operator Union Pacific made one of the biggest gains among S&P 500 companies. It surged 8.7 percent to $150.75 after hiring longtime Canadian National railroad executive Jim Vena as its chief operating officer. Other transportation and industrial companies also jumped. Aerospace giant Boeing rose 3.8 percent to $340.53 and trucking and logistics company J.B. Hunt rose 2.8 percent to $95.88.

Among communications companies, Facebook rose 3.2 percent to $142.53. Verizon added 2.9 percent to $58.38 after it reported strong wireless subscriber gains in the fourth quarter. Among consumer-focused companies, Amazon gained 1.7 percent to $1,656.58 and Nike shot up 1.3 percent to $76.73.

Oil prices also continued to rally. U.S. crude rose for the eighth day in the last nine, jumping 2.6 percent to $49.78 per barrel in New York. Brent crude, used to price international oils, gained 2.4 percent to $58.72 a barrel in London.

U.S. crude dropped from $76 a barrel in early October to about $42 a barrel on Dec. 24 as investors worried about slowing economic growth and a supply glut. Brighter prospects for growth and higher energy demand have helped send energy prices higher since then.

Bond prices fell and yields rose, another sign of optimism about economic growth. The yield on the 10-year Treasury note rose to 2.73 percent from 2.65 percent late Monday.

Despite the upward move in bond yields, which usually helps banks by sending borrowing rates higher, bank stocks lagged the market on Tuesday.

Investors may have been preparing for future disappointment: analysts for Goldman Sachs lowered their forecasts for bond yields around the world.

The yield on the 10-year Treasury note has fallen sharply since October, when it reached a seven-year high, and the report says yields "may have peaked for this (economic) cycle."

South Korean smartphone and computer chip maker Samsung said demand for chips is weak because the global economy is slowing. Last week Apple said its iPhone sales in China slumped, which traders took as a warning sign about its economy.

Samsung fell 1.7 percent in Seoul and U.S. chipmakers slipped. Nvidia lost 2.5 percent to $139.83.

Car retailer AutoNation said 2019 will be challenging year for sales, and its stock lost 3.9 percent to $36.18. The company also said it is restructuring its business, and several top executives including its chief operating officer are departing. Used car dealership CarMax gave up 2.3 percent to $64.91 while auto parts retailer AutoZone skidded 1.3 percent to $811.37.

The dollar edged up to 108.65 yen from 108.59 yen. The euro fell to $1.1443 from $1.1478.

In other commodities trading, gold fell 0.3 percent to $1,285.90 an ounce and silver dipped 0.3 percent to $15.71 an ounce. Copper rose 0.7 percent to $2.66 a pound.

Wholesale gasoline rallied 1.6 percent to $1.36 a gallon while heating oil jumped 2.7 percent to $1.83 a gallon. Natural gas gained 0.8 percent to $2.97 per 1,000 cubic feet.

France's CAC 40 jumped 1.1 percent and Germany's DAX rose 0.5 percent. Britain's FTSE 100 rose 0.7 percent.

Japan's Nikkei 225 index gained 0.8 percent and the Hang Seng in Hong Kong added 0.2 percent. The South Korean Kospi gave up 0.5 percent.


----------



## funnymoney876

US market on the verge of a crash, save yourself money and get your cash into crypto which has now hit the bottom.


----------



## bigdog

Stocks cinched their fourth consecutive gain Wednesday as indexes around the world build on their early 2019 rally. The gains for U.S. indexes faded slightly after President Donald Trump and Democratic leaders said Trump cut short a meeting on ending the partial shutdown of the federal government.

The last four-day winning streak for the S&P 500 ended in mid-September.






https://www.usnews.com/news/busines...ally-on-hopes-for-china-us-trade-breakthrough

*Stocks Post 4th Straight Gain as Hopes Build on China Trade*
US stocks rose for the fourth straight day Wednesday, the longest winning streak since September, after negotiators from the U.S. and China extended their trade talks to a third day.
Jan. 9, 2019, at 4:39 p.m. 

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks cinched their fourth consecutive gain Wednesday as indexes around the world build on their early 2019 rally. The gains for U.S. indexes faded slightly after President Donald Trump and Democratic leaders said Trump cut short a meeting on ending the partial shutdown of the federal government.

The last four-day winning streak for the S&P 500 ended in mid-September. The index, the benchmark for many mutual funds, retirement plans and investment professionals, has climbed 9.9 percent since Dec. 24.

Negotiators from the U.S. and China extended their trade talks to a third day, which investors took as a sign the trade discussions were productive even though the two sides didn't announce any breakthroughs. Stocks linked to faster economic growth, such as technology and energy companies, kept rising.

Oil prices rose for the ninth day out of 10, bringing U.S. crude back above $50 a barrel for the first time in almost a month. European stocks made solid gains and Asian indexes jumped.

Wednesday's rally thinned when Trump tweeted that his meeting with Congressional leaders was a "waste of time," while top Democrats said Trump left after they didn't agree to fund the border wall Trump has demanded.

The partial government shutdown has lasted almost three weeks, meaning 800,000 federal employees are temporarily out of work or working unpaid. Because many federal agencies are shuttered, the government can't send out a variety of payments, government-backed mortgage loan applications aren't being approved, companies can't go public on stock exchanges and a number of economic reports watched by investors aren't being released.

U.S. Bank Wealth Management chief equity strategist Terry Sandven said the economy looks solid, but this year is likely to be a bumpy one for stocks because investors will be very sensitive to trade threats and signs of slower growth.

"We're in this roller-coaster mode," he said. "We're in a trading range that we'll be in for the course of the year."

The S&P 500 index climbed 10.55 points, or 0.4 percent, to 2,584.96. The Dow Jones Industrial Average picked up 91.67 points, or 0.4 percent, to 23,879.12. The Nasdaq composite rose 60.08 points, or 0.9 percent, to 6,957.08. The Russell 2000 index of smaller and U.S.-focused stocks added 12.25 points, or 0.9 percent, to 1,438.81.

Sandven said stocks could keep rising next week as U.S. corporations start to report their fourth-quarter results, as their profits are expected to rise compared to last year.

"You still have moderating earnings growth, non-problematic inflation and relatively low interest rates," he said.

Experts think the trade negotiations will have to continue for months before an agreement is reached. The Trump administration wants the government of President Xi Jinping to alter its handling of technology held by foreign companies, and while Chinese officials have suggested they could revise some of their industrial plans, they say they won't abandon larger goals that they consider a path to prosperity and global influence.

Chipmaker Micron Technology surged 5.6 percent to $35.93 and competitor Broadcom climbed 3.7 percent to $244.77. Many chip companies have manufacturing operations in China and make big chunks of their sales there. Traders felt that made them especially vulnerable in the U.S.-China spat. They were also concerned about an abrupt slowdown in the global economy and the possibility that supplies were too large.

The Philadelphia Semiconductor index sank 25 percent from early June to late December before a recent recovery.

In overseas trading, Germany's DAX and the French CAC 40 each added 0.8 percent and Britain's FTSE 100 gained 0.7 percent. Japan's Nikkei 225 gained 1.1 percent and the Hang Seng in Hong Kong rallied 2.3 percent.

Oil prices hit their highest in almost a month after rising for the ninth day in the last 10. U.S. crude rose 5.2 percent to $52.36 a barrel in New York. It's jumped 15 percent so far in 2019. Brent crude, used to price international oils, added 4.6 percent to $61.44 a barrel in London.

Lennar jumped 7.9 percent to $46.29 and other homebuilders also rose after CEO Stuart Miller said more potential buyers have been coming to Lennar's model homes recently as mortgage rates dipped. That could be a sign sales will pick up.

Homebuilder stocks took huge losses in 2018 as high prices and increasing mortgage rates hurt sales.

Bond prices recouped an early loss and wound up little changed. The yield on the 10-year Treasury note remained at 2.71 percent.

With investors becoming a bit more optimistic about trade and economic growth, high-dividend stocks including utilities and food, drink and household goods makers fell. Beer and wine maker Constellation Brands slumped after it cut its annual profit forecast, saying it now expects sales and profits for its wine and spirits division to fall in the current fiscal year. The stock slumped 12.4 percent to $150.894.

The Corona maker also said it wrote down the value of its $4 billion investment in Canadian marijuana producer Canopy Growth by $164 million. Pot stocks proved popular as Canada legalized recreational marijuana and companies like Constellation and Altria announced partnerships with growers. But the stocks have been extremely volatile. After strong gains early in 2018, Canopy stock has dropped 40 percent since mid-October.

In other commodities trading, wholesale gasoline rose 4.6 percent to $1.43 a gallon and heating oil added 2.9 percent to $1.88 a gallon. Natural gas edged up 0.6 percent to $2.98 per 1,000 cubic feet.

Gold rose 0.5 percent to $1,292 an ounce. Silver inched up 0.1 percent to $15.74 an ounce and copper was unchanged at $2.66 a pound.

The dollar slipped to 108.28 yen from 108.65 yen. The euro climbed to $1.1544 from $1.1443.


----------



## bigdog

A day of back-and-forth trading Thursday ended with the fifth gain in a row for U.S. stocks. Industrial companies like Boeing and General Electric rose while retailers fell as Macy's suffered its biggest loss of all time.





https://www.usnews.com/news/busines...settle-after-rallying-on-us-china-trade-hopes

*Industrials Lead US Stocks Higher Again; Macy's Nosedives*
U.S. stocks finish higher for the fifth day in a row in uneven trading; Macy's nosedives.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — A day of back-and-forth trading Thursday ended with the fifth gain in a row for U.S. stocks. Industrial companies like Boeing and General Electric rose while retailers fell as Macy's suffered its biggest loss of all time.

Stocks struggled in the early going and the Dow Jones Industrial Average lost 175 points after U.S. and Chinese officials wrapped trade talks in Beijing. Transportation and machinery companies climbed after the U.S. Trade Representative said China agreed to buy more agricultural and manufactured products.

Macy's said its sales over the holidays were worse than expected and slashed its annual profit and sales forecasts. Kohl's and L Brands also posted disappointing results and a wide variety of retailers plunged as investors worried that the stock market's December plunge stopped some shoppers from spending as much as they had planned.

"High-end consumers, even though they're making decent money (and) the economy is going on relatively strong, it may have affected their willingness to splurge over the holidays," said Ken Perkins, president of the research firm Retail Metrics. "It was not good timing at all."

The S&P 500 index added 11.68 points, or 0.5 percent, to 2,596.64. The Dow Jones Industrial Average gained 122.80 points, or 0.5 percent, to 24,001.92 after it fell 175 points in the morning.

The Nasdaq composite rose 28.99 points, or 0.4 percent, to 6,986.07. The Russell 2000 index of smaller-company stocks picked up 6.63 points, or 0.5 percent, to 1,445.43.

U.S. negotiators said China's delegation pledged to buy more energy and agricultural products and manufactured goods. That helped Boeing climb 2.6 percent to $352.61 and General Electric jumped 5.2 percent to $8.94 while Deere rose 3.1 percent to $159.12.

However, that point is considered a relatively minor area of disagreement, and there were no hints of progress on bigger issues. The U.S. wants China to change its technology policy to reduce cyber theft of trade secrets and seeks more access to the Chinese market and increased protection for foreign patents and copyrights.

Macy's said holiday sales slowed in the middle of December and the department store cut its annual profit and sales forecasts. Its stock plunged 17.7 percent to $26.11 in heavy trading. Macy's went public in February 1992 and reached an all-time high of almost $73 a share in mid-2015, but four of the five biggest one-day plunges in its history have come in the last three years.

Macy's announcement came as a surprise because investor expectations for the holiday season have been high. Unemployment is the lowest it's been in decades, wages are rising and consumer confidence is high, while gas prices dropped late last year. In late December, stocks rallied after Mastercard SpendingPulse said shoppers spent $850 billion between Nov. 1 and Dec. 24, an increase of 5 percent from the same time a year earlier.

But the stock market fell sharply in October and then took a dramatic drop over the first three weeks of December. Shortly afterward the federal government went into a partial shutdown that is still ongoing.

While large numbers retailers took steep losses Thursday, Perkins said the market turmoil is a much bigger problem for companies like Macy's because most stocks are owned by relatively wealthy people. That means big box stores and companies that sell less expensive goods won't be affected as much, as shown by Target's stronger sales report. Perkins added that said Amazon likely had a "stellar" holiday season.

Chipmakers rose and other technology stocks edged higher, while high-dividend stocks like utilities and household goods companies made strong gains.

Oil prices extended their rally to a ninth consecutive day. U.S. crude added 0.4 percent to $52.59 a barrel in New York. It's now up 23.7 percent since hitting an 18-month low on Dec. 24. Brent crude, the international standard, slid 0.4 percent to $61.68 a barrel in London.

Federal Reserve Chairman Jerome Powell was interviewed at the Economic Club of Washington DC. Stocks briefly fell after Powell said he expects the Fed's $4 trillion bond portfolio to shrink until it is "substantially smaller than it is now." Powell noted that the Fed had about $1 trillion on its balance sheet before the 2007-08 financial crisis.

The Fed's bond holdings are slowly shrinking, which tends to put upward pressure on long-term interest rates. Investors have grown concerned about the effects of those tighter credit conditions as the global economy slows. Powell said in December that the Fed could slow the changes to its portfolio if necessary.

Bond prices slipped. The yield on the 10-year Treasury note rose to 2.74 percent from 2.72 percent.

In other energy trading, wholesale gasoline added 0.4 percent to $1.43 a gallon and heating oil rose 1.3 percent to $1.91 a gallon. Natural gas dipped 0.5 percent to $2.70 per 1,000 cubic feet.

Gold fell 0.4 percent to $1,287.40 an ounce and silver shed 0.6 percent to $15.64 an ounce. Copper lost 0.7 percent to $2.97 a pound.

The dollar rose to 108.42 yen from 108.28 yen and the euro fell to $1.1500 from $1.1544.

France's CAC 40 lost 0.2 percent while Germany's DAX edged up 0.3 percent. The British FTSE 100 rose 0.5 percent.

Japan's Nikkei 225 index, which gained more than 1 percent on Wednesday, fell 1.3 percent and the Kospi in South Korea dropped 0.1 percent. Hong Kong's Hang Seng recovered from early losses and added 0.2 percent.


----------



## bigdog

https://www.usnews.com/news/busines...ks-rise-on-fed-restraint-us-china-trade-hopes

*US Stocks Drift in a Quiet Close to Another Winning Week*
U.S. stock indexes nestled a hair lower on Friday after the falling price of oil weighed on energy companies. The S&P 500 nevertheless closed out its third straight winning week following a brutal stretch in December.
Jan. 11, 2019, at 4:47 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — U.S. stock indexes nestled a hair lower on Friday after the falling price of oil weighed on energy companies, but the S&P 500 nevertheless closed out its third straight winning week following a brutal stretch in December.

It was a day full of broken streaks — oil fell for the first time in two weeks, and the yield on the 10-year Treasury note sank to its first loss in more than a week — but the market remained calm through it. Gradual moves for markets in recent days have offered a respite following the tumultuous trading that rocked investors in late 2018.

"After some of the initial gains we saw earlier in the week I think it's just a rally looking tired," said Willie Delwiche, investment strategist at Baird. "I think it's probably not much more than a chance for people to digest the move and try to get a sense of whether we've had a bounce — and this is it — or maybe a pause as we continue to move higher."

The S&P 500 edged down by 0.38 points, or less than 0.1 percent, to 2,596.26. Last month, a typical day for the index was a swing 10 times that.

The Dow Jones Industrial Average dipped 5.97 points, or less than 0.1 percent, to 23,995.95. The Nasdaq composite lost 14.59, or 0.2 percent, to 6,971.48, and the Russell 2000 index of smaller stocks ticked up by 1.95, or 0.1 percent, to 1,447.38.

It was the first loss for the S&P 500 in six days, and much of the reason for it was the falling price of oil. Benchmark U.S. crude lost 1.9 percent to settle at $51.59 per barrel, and Brent crude, the international standard, sank 1.9 percent to $60.48 a barrel.

That helped pull energy stock in the S&P 500 down 0.6 percent, the largest loss among the 11 sectors that make up the index. ConocoPhillips, Marathon Oil and Hess all fell more than 1 percent.

Big gains earlier in the week meant the S&P 500 was still hanging onto a 2.5 percent rise for the last five days. The three-week winning streak for the S&P 500 is its longest since August. Not only that, the last three weeks of gains have all been of more than 1.8 percent. The last time that happened was in 2001.

The S&P 500 has been clawing back gains since running to the edge of what traders call a "bear market," when it dropped 19.8 percent between setting a record in September and a low on Christmas Eve. Stocks have climbed on soothing words from the Federal Reserve about the future path of interest rates, plus hopes that the U.S.-China trade dispute may ease. That's helped to at least paper over worries about slowing growth for corporate earnings and the possibility of a looming recession.

Companies across the country are gearing up to report how much profit they made in the last three months of 2018, and expectations are for a fifth straight quarter of growth topping 10 percent.

General Motors gave an encouraging sign Friday when it gave better-than-expected profit forecasts for both 2018 and 2019. That helped the automaker surge to the biggest gain in the S&P 500, and it jumped $2.45, or 7.1 percent, to $37.18.

Other big-name companies have recently offered a more discouraging picture of revenue trends due to slowing growth in China and elsewhere.

That's why analysts say this upcoming earnings reporting season, which kicks off in earnest next week, could be the next trigger for volatility in the market. Delwiche said he wants to hear how optimistic CEOs are given all the uncertainties about the economy.

"We've seen some retrenchment in business confidence," Delwiche said. "Is it a blip or evidence that those animal spirits that we saw are starting to dissipate?"

In overseas markets, Japan's Nikkei 225 index jumped 1 percent, the Kospi in South Korea rose 0.6 percent and the Hang Seng in Hong Kong gained 0.5 percent. In Europe, France's CAC 40 dropped 0.5 percent, and Germany's DAX lost 0.3 percent. The FTSE 100 in London fell 0.4 percent.

The yield on the 10-year Treasury note fell to 2.69 percent from 2.73 percent late Thursday.

In the commodities markets, gold rose 0.2 percent to $1,289.50 per ounce, silver edged up 0.1 percent to $15.66 per ounce and copper rose 0.9 percent to $2.66 per pound.

Natural gas gained 4.4 percent to $3.10 per 1,000 cubic feet. Heating oil lost 1.4 percent to $1.88 per gallon, and wholesale gasoline slipped 2.1 percent to $1.40 per gallon.

The dollar rose to 108.50 Japanese yen from 108.42 yen late Thursday. The euro slipped to $1.1465 from $1.1500, and the British pound rose to $1.2845 from $1.2746.

0867


----------



## bigdog

Stocks took small losses Monday after China reported a drop in exports in December, but the market didn't come close to matching the plunges it took in the last few months.






https://www.usnews.com/news/busines...-sink-after-china-reports-slowdown-in-exports

*Another Sign of Weakness in China Weighs on US Stocks*
US stocks slip after China said its exports fell in December, but major indexes avoid the big losses they took in late 2018 when investors worried about the state of the global economy.
Jan. 14, 2019, at 4:25 p.m. 

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks took small losses Monday after China reported a drop in exports in December, but the market didn't come close to matching the plunges it took in the last few months.

Indexes in Europe and Asia headed slightly lower after the latest report added more evidence that China's economy is weakening. Major U.S. indexes fell about 1 percent at the start of trading, but soon recovered much of what they'd lost. Technology companies slumped.

Drugmakers fell after Democrats in the House of Representatives announced an investigation into prescription drug pricing. A strong quarterly report from Citigroup helped bank stocks trade higher.

China's exports slipped in December, and exports to the U.S. fell 3.5 percent as rising tariffs and broader weakness affected the world's second-largest economy. Concerns about the Chinese economy and the overall global economy were a major contributor to the market's plunge in late 2018.

Mark Esposito, president of Esposito Securities, said the calm reaction to the news from China suggests stocks won't fall further than they did in December.

"That's a very positive sign that, at least in the short term, we may have found a bottom," he said. "People lose faith and hope when (the market) drops 20 percent in a very short period like it did."

The S&P 500 index dropped from late September until the day before Christmas, partly because investors were worried that the global economy was slowing dramatically and could fall into a recession. Since Dec. 26, stocks have regained about half of what they lost in the downturn.

On Monday the S&P 500 fell 13.65 points, or 0.5 percent, to 2,582.61. The Dow Jones Industrial Average fell 230 points Monday morning, but finished with a loss of 86.11 points, or 0.4 percent, to 23,909.84.

The Nasdaq composite retreated 65.56 points, or 0.9 percent, to 6,905.92. The Russell 2000 index of smaller-company stocks shed 14.57 points, or 1 percent, to 1,432.81.

The stock market's recent rally suggests investors aren't quite as worried about the global economy or the state of trade talks. They still took a cautious approach to technology companies. Apple lost 1.5 percent to $150. The company's shares tumbled last month after it said sales in China were falling. Chipmaker Texas Instruments lost 2.3 percent to $96.33.

Also falling was Wynn Resorts, which has two of its three casinos in Macau. It slumped 4.8 percent to $108.10.

A leading House Democrat, Rep. Elijah Cummings, announced a sweeping investigation of the pharmaceutical industry's pricing practices for drugs that are used to treat conditions including cancer, diabetes, kidney failure and nerve pain.

The Trump administration is pursuing its own plan to lower drug prices by approving more generic medications and trying to do away with industry practices that allow manufacturers, insurers and pharmacy benefit managers to profit at the consumer's expense.

AbbVie fell 2.8 percent to $84.76 while Merck lost 2 percent to $73.37.

Citigroup and other banks stood out. Citi said its earnings rose in the last three months of 2018, helped by a lower tax rate and lower expenses. Its stock gained 4 percent to $58.93.

PG&E, the parent of Pacific Gas and Electric, said it will file for Chapter 11 bankruptcy protection and its stock plunged 52.4 percent to $8.38. It faces potentially colossal liabilities over deadly wildfires in 2017 and 2018 and announced the resignation of CEO Geisha Williams on Sunday. The company says deliveries of natural gas and electricity shouldn't be affected.

PG&E's market value has dropped by $20 billion since November, when reports indicated PG&E had a power outage around the time and place the deadly Camp Fire began. That blaze killed at least 86 people and destroyed 15,000 homes.

Investors now value the company at $4.3 billion. Media reports say PG&E's liabilities could reach $30 billion.

British lawmakers are scheduled to vote Tuesday on Prime Minister Theresa May's deal covering Britain's planned departure from the European Union, and all indications are that the deal will be rejected. That could contribute to volatility for U.K. markets, particularly the pound. Britain is scheduled to leave the EU on March 29.

The FTSE 100 index fell 0.9 percent and the pound rose to $1.2865 from $1.2845.

Investors also reacted to deal talks. Newmont Mining will buy Canada's Goldcorp for $10 billion, creating the world's biggest gold miner as gold becomes more expensive to procure. Goldcorp rallied 7.1 percent to $10.38 while Newmont fell 8.9 percent to $31.78.

Gannett, the publisher of USA Today, rocketed 21.2 percent to $11.82 after Digital First Media said it offered to buy the company for $1.36 billion. Gannett said will review the proposal.

Bond prices turned lower. The yield on the 10-year Treasury note rose to 2.71 percent from 2.69 percent.

Benchmark U.S. crude oil gave up 2.1 percent to $50.51 per barrel in New York, while Brent crude, the international standard, fell 2.5 percent to $58.99 per barrel in London.

Natural gas jumped 15.9 percent to $3.59 per 1,000 cubic feet. Wholesale gasoline fell 2.6 percent to $1.36 a gallon and heating oil lost 1.4 percent to $1.85 a gallon.

The dollar fell to 108.20 yen from 108.50 yen. The euro remained at $1.1465.

Germany's DAX slid 0.3 percent while the CAC 40 in France fell 0.4 percent.

Hong Kong's Hang Seng index lost 1.4 percent and the Kospi in South Korea declined 0.5 percent.


----------



## bigdog

U.S. stocks rallied to their highest level in more than a month Tuesday after China's government moved to inject more life into its economy by cutting taxes and increasing spending. Netflix led a surge in high-tech companies.

*A Sea of Green*






https://www.usnews.com/news/busines...s-recover-as-china-outlines-2019-policy-plans

*US Indexes Hit One-Month Highs as Netflix Leads Tech Rally*
US stocks rise to their highest levels in a month, led by Netflix and other technology and internet companies as well as health care companies.
Jan. 15, 2019, at 4:40 p.m.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks rallied to their highest level in more than a month Tuesday after China's government moved to inject more life into its economy by cutting taxes and increasing spending. Netflix led a surge in high-tech companies.

Health care companies and banks rose as major companies including UnitedHealth and JPMorgan Chase announced their fourth-quarter results.

The British pound wobbled after legislators soundly rejected Prime Minister Theresa May's plan governing the country's departure from the European Union. While the deal's defeat might herald more chaos for companies in Britain and Europe in the months ahead, the outcome of the vote was long expected and stocks didn't react much.

Investors were encouraged to see China makes moves to stimulate growth. China is enduring its worst slowdown since the global financial crisis amid a punishing tariffs dispute with the U.S.

"It shows clear signs they are worried about the economy," said Lindsey Bell, an investment strategist at CFRA. But to investors, who want China's economy to pick up again, Bell said the latest steps were "really welcome news."

The S&P 500 index rose 27.69 points, or 1.1 percent, to 2,610.30, its first close above 2,600 since Dec 13. The Dow Jones Industrial Average added 155.75 points, or 0.7 percent, to 24,065.59.

The technology-heavy Nasdaq composite jumped 117.92 points, or 1.7 percent, to 7,023.83.

Chinese leaders plan to reduce taxes, increase government spending, and provide financing to private and small enterprises in a bid to strengthen the world's second-largest economy. China is enduring its worst slowdown since the global financial crisis, partly because of a punishing tariff dispute with the U.S.

That helped tech companies, which make big chunks of their sales in China. Microsoft rose 2.9 percent to $105.01 and Broadcom climbed 2.2 percent to $256.49.

Hong Kong's Hang Seng rebounded 2 percent, wiping out a loss on Monday. It's moved higher this month but is still down almost 19 percent from its peak in late January 2018.

Japan's Nikkei 225 index, reopening after a market holiday, added 1 percent. The Kospi in South Korea jumped 1.6 percent.

Netflix announced the biggest price increase in its history to help to pay for its huge investment in original shows and films and finance the heavy debt it has assumed to ward off rivals such as Amazon, Disney and AT&T. The price of its most popular video-streaming plan will rise to $13 per month from $11.

Netflix climbed 6.5 percent to $354.75. That touched off strong gains for the other "FANG" stocks: Facebook rose 2.4 percent to $148.95, Amazon gained 3.5 percent to $1,674.56, and Google's parent company Alphabet jumped 3.3 percent to $1,086.51.

Netflix has jumped 32.5 percent in 2019 but was worth almost $420 a share in July.

In Britain, the House of Commons rejected the deal May negotiated with EU leaders by a vote of 432-202. The country is scheduled to leave the EU on March 29 after a June 2016 referendum where a narrow majority of UK subjects voted to take Britain out of the union. It's not clear what will happen to May's government, which faces a vote of no confidence, or the economies and financial systems of Britain and the rest of Europe.

The pound dipped as low as $1.2670 ahead of the vote and later traded at $1.2834, down from $1.2865 late Monday. The British FTSE 100 index closed up 0.6 percent, but banks including Lloyd's and Royal Bank of Scotland slipped.

Bell, the CFRA investment strategist, noted that British stocks have continued to rise since the 2016 referendum because the global economy and company profits kept growing.

"The market has taken it in stride," she said. "Maybe when we get closer to March 29th, when they're officially done without a deal, you could see more volatility."

The FTSE 100 is up 9 percent since the vote, not much different from the German DAX and French CAC 40, but other indexes including the S&P 500, the Hang Seng and the Nikkei 225 have done far better.

Delta Air Lines became one of the first companies to detail how the partial shutdown of the federal government is affecting its business. The airline says it's on pace to lose $25 million in revenue this month. CEO Ed Bastian said the shutdown is keeping Delta from using new Airbus jets because the planes must be certified by safety regulators. They have been furloughed since Dec. 22 in the longest U.S. government shutdown of all time.

An unusually high number of airport screeners have been missing work after they did not get paychecks last week, contributing to long lines at some airports.

Delta met Wall Street's expectations in the fourth quarter. Its stock gyrated and finished with a gain of 0.2 percent at $47.83.

Paint and coatings maker Sherwin-Williams said it was "disappointed" with its sales in October and November, and its profit and sales in the fourth quarter fell short of Wall Street's estimates. Its stock fell 4.1 percent to $381.44. Other coatings makers sank, and home improvement retailer Home Depot gave up 1.3 percent to $176.47 while Lowe's slid 2.1 percent to $94.91.

Oil prices rose as investors felt a bit better about China's economic growth. Benchmark U.S. crude added 3.2 percent to $52.11 a barrel in New York. The international standard, Brent crude, gained 2.8 percent to $60.64 a barrel in London.

Wholesale gasoline jumped 3.5 percent to $1.41 a gallon. Heating oil rose 1.1 percent to $1.87 a gallon and natural gas fell 2.5 percent to $3.50 per 1,000 cubic feet.

Gold slipped 0.2 percent to $1,288.40 an ounce and silver fell 0.4 percent to $15.62 an ounce. Copper was unchanged at $2.63 a pound.

Bond prices inched lower. The yield on the 10-year Treasury note rose to 2.72 percent from 2.71 percent.

In Europe, the DAX edged 0.3 percent higher and the CAC 40 in picked up 0.5 percent.

The dollar rose to 108.57 yen from 108.20 yen. The euro dipped to $1.1402 from $1.1465.


----------



## bigdog

Banks surged Wednesday following strong results from a slew of financial companies, and U.S. stock indexes finished broadly higher. Concerns about trade tensions between the U.S. and China derailed a bigger gain.






https://finance.yahoo.com/m/8d5bffb6-460f-308a-a4be-3cf91a921f72/big-bank-rally-helps-us.html

*Big bank rally helps US stocks finish higher; Goldman soars*




MARLEY JAY

NEW YORK (AP) — Banks surged Wednesday following strong results from a slew of financial companies, and U.S. stock indexes finished broadly higher. Concerns about trade tensions between the U.S. and China derailed a bigger gain.

Financial and investment companies surged as fourth-quarter reports from Wall Street continued to roll in. Goldman Sachs' stock had its best day in 10 years, and Bank of America its best in seven. Banks were some of the chief beneficiaries of the corporate tax cut that took effect at the end of 2017, which fattened their balance sheets, but their stocks endured a rough year in 2018.

Willie Delwiche, an investment strategist at Baird, said it will be a good sign for the stock market and the economy if banks continue to report strong results and their stocks keep rallying.

"That to me is a signal that the economy ... is maybe on firmer footing," he said. "The important takeaway from earnings season will not be what companies had to say about the fourth quarter as much as it will be the commentary, not just for the current quarter but for 2019 overall."

U.S. indexes were on track for larger gains before the Wall Street Journal reported that federal prosecutors could bring criminal charges against Chinese tech company Huawei related to alleged theft of trade secrets from U.S. companies. Huawei has been at the center of the trade and technology policy dispute between the U.S. and China, and charges against the company could increase tensions between Washington and Beijing.

The S&P 500 index gained 5.80 points, or 0.2 percent, to 2,616.10 after rising as much as 0.6 percent during the day. The S&P 500 is up 4.4 percent so far in January.

The Dow Jones Industrial Average added 141.57 points, or 0.6 percent, to 24,207.16. The Nasdaq composite rose 10.86 points, or 0.2 percent, to 7,034.69.

Smaller companies, especially small banks, did better than the rest of the market. The Russell 2000 index rose 9.48 points, or 0.7 percent, to 1,454.70.

Goldman Sachs posted strong results from its advisory business in the fourth quarter even though its trading business, like the rest of Wall Street, struggled as stock and bond markets went through huge swings. While some volatility gives traders an opportunity to make money, several financial firms have said last year's swings were far too large for that. The S&P 500 fell 7 percent in October and then tumbled 9 percent in December, its worst month in nearly a decade.

Goldman's stock jumped 9.5 percent to $197.08 after a steep slump over the past 10 months. Bank of America climbed 7.2 percent to $28.45 after its profit surged thanks to last year's steady rise in interest rates, which has allowed it to charge customers more to use credit cards or take out a mortgage. Bank of America's consumer banking business is by far its largest division by revenue and profits.

Investment firm BlackRock rose 3.1 percent to $413.04 and regional bank Comerica picked up 5.5 percent to $78.13 after they reported their quarterly results.

Britain's FTSE 100 stock index slipped 0.5 percent after Parliament rejected the deal negotiated by Prime Minister Theresa May with European leaders over the country's departure from the European Union. May's government survived a vote of no confidence after the close of trading in the U.K.

Economists warn that an abrupt break with the EU on March 29 could batter the British economy, which would face new tariffs and other trade barriers. Chaotic scenes at borders, ports and airports could also follow. But since investors have expected that outcome for some time, British stocks didn't make big moves as May's deal foundered.

The pound rose to $1.2876 from $1.2834. It's fallen 6.6 percent in the last 12 months.

Fiserv is buying First Data in a $22 billion all-stock deal, creating a giant player in the payments and financial technology sector. First Data surged 21.1 percent to $21.24 and Fiserv lost 3.3 percent to $72.57.

Snap slumped again after the social media company said its chief financial officer is leaving after just eight months on the job. Tim Stone is the second Snap CFO to leave in the past year and he's part of a string of top executives who have left in recent months. A redesign of Snapchat's service has also been heavily criticized by users.

Snap traded above $20 last February, but Wednesday's loss of 13.8 percent brought it down to $5.64.

Benchmark U.S. crude added 0.4 percent to $52.31 per barrel in New York. Brent crude, the international standard, rose 0.1 percent to $61.37 a barrel in London.

Bond prices dipped. The yield on the 10-year Treasury note rose to 2.72 percent from 2.70 percent.

Germany's DAX rose 0.4 percent and France's CAC 40 added 0.5 percent. Japan's Nikkei 225 index, weighed down by weak machinery orders in November, slipped 0.6 percent. South Korea's Kospi added 0.4 percent and Hong Kong's Hang Seng rose 0.3 percent.

In other commodities trading, wholesale gasoline edged up 0.3 percent to $1.42 a gallon and heating oil rose 1.2 percent to $1.89 a gallon. Natural gas fell 3.3 percent to $3.38 per 1,000 cubic feet.

Gold rose 0.4 percent to $1,293.80 an ounce and silver inched up 0.1 percent to $15.64 an ounce. Copper rose 1.5 percent to $2.67 a pound.

The dollar rose to 108.92 yen from 108.57 yen. The euro slipped to $1.1398 from $1.1402.


----------



## bigdog

U.S. stocks climbed Thursday after the Wall Street Journal reported that U.S. officials could reduce the new tariffs on Chinese imports as part of trade negotiations between the two countries. It was the latest in a series of potentially conflicting updates on the trade dispute.





https://www.usnews.com/news/busines...hares-mixed-on-report-of-huawei-investigation

*Stocks Climb on Report US May Pare Back Tariffs on China*
US stocks finish with solid gains as investors hope the US might cut back its tariffs on imports from China.
Jan. 17, 2019, at 4:47 p.m

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks climbed Thursday after the Wall Street Journal reported that U.S. officials could reduce the new tariffs on Chinese imports as part of trade negotiations between the two countries. It was the latest in a series of potentially conflicting updates on the trade dispute.

Citing sources close to the discussions, the Journal said Treasury Secretary Steven Mnuchin and other officials are willing to lift some or all of the import taxes the U.S. announced last year. They're aiming to convince Chinese leaders to make deeper reforms. However, U.S. Trade Representative Robert Lighthizer reportedly doesn't support the idea, and the proposals haven't been presented to President Donald Trump.

Stocks wobbled earlier following reports late Wednesday that the U.S. might bring criminal charges against Chinese technology giant Huawei over allegations it stole trade secrets. However, China's government said the top trade envoys from both countries will meet in Washington at the end of this month, a possible sign of progress in negotiations

Technology, industrial and health care companies made some of the largest gains, and makers of chemicals and other basic materials jumped.

After three months of big swings that were linked to trade talk developments, investors have adjusted to the uncertainty, said Gina Martin Adams, the chief equity strategist for Bloomberg Intelligence. She said investors want hard data and clear answers about what international trade will look like.

"These issues between Huawei and trade have been a constant source of volatility and uncertainty that is weighing on sentiment," she said. "Any permanence on the issue is going to be deemed an improvement."

The S&P 500 index rose 19.86 points, or 0.8 percent, to 2,635.96. The Dow Jones Industrial Average jumped as much as 267 points following the report about the potential tariff cuts. It finished with a gain of 162.94 points, or 0.7 percent, at 24,370.10. The Nasdaq composite added 49.77 points, or 0.7 percent, to 7,084.46. The Russell 2000 index of smaller-company stocks climbed 12.55 points, or 0.9 percent, to 1,467.25.

Among tech companies, chipmaker Nvidia gained 1.9 percent to $151.72 and Advanced Micro Devices rose 2.6 percent to $20.25. Hard drive makers struggled, however. Western Digital lost 3.6 percent to $36.47 and Seagate shed 2.5 percent to $38.73 as digital storage companies sank.

Industrial companies also stand to benefit from greater trade and faster economic growth. Defense contractors made strong gains after President Donald Trump called for a space-based missile defense system following a strategy review by the Pentagon.

Defense contractor Northrop Grumman gained 3.3 percent to $264.08 and Lockheed Martin rose 2.4 percent to $278.80. Aerospace company Boeing advanced 2 percent to $359.09.

Elsewhere Fastenal, which makes industrial and construction fasteners, jumped 5.9 percent to $57.34 after it said customers became a bit less cautious about spending in December.

Among health care companies, drugmaker AbbVie added 1.9 percent to $87.20 and medical device maker Becton Dickinson picked up 2.1 percent to $236.11 after it said it had a strong fiscal first quarter.

Like several other major financial companies, Morgan Stanley was hurt by difficulties in trading during the volatile fourth quarter. While its traders are considered some of the best in the business, their stock trading revenue was flat over the last three months of the year, a period where the S&P 500 dropped 14 percent, and its bond trading revenue tumbled 30 percent. Morgan Stanley fell 4.4 percent to $42.53.

Signet Jewelers plunged 24.7 percent to $25.13 after it said its holiday season had been difficult and slashed its annual forecasts. The company said competition grew tougher in December and sales of some key products were weak. The company also said fewer customers came to its stores last month.

Big luxury retailers including department stores like Macy's have said they struggled over the holidays even though consumer confidence is high and pay for workers is rising. The stock market's steep losses in December appear to have made some consumers reluctant to splurge.

All 11 S&P 500 sectors finished higher, but internet and communications companies, household goods makers and utilities lagged the rest of the market. Netflix rose 0.5 percent to $353.19, but after the close of trading its stock fell 3.2 percent after its fourth-quarter revenue and its first-quarter revenue forecast both came up short of analysts' expecations.

Bond prices edged lower. The yield on the 10-year Treasury note rose to 2.75 percent from 2.73 percent.

Benchmark U.S. crude oil fell 0.5 percent to $52.41 a barrel in New York, while Brent crude, the international standard, gave up 0.2 percent to $61.18 a barrel in London.

Wholesale gasoline rose 1 percent to $1.43 a gallon and natural gas added 0.9 percent to $3.41 per 1,000 cubic feet. Heating oil slid 0.5 percent to $1.88 a gallon.

Gold dipped 0.1 percent to $1,292.30 an ounce and silver lost 0.7 percent to $15.54 an ounce. Copper added 0.2 percent to $2.68 a pound.

The dollar rose to 109.23 yen from 108.92 yen. The euro slipped to $1.1390 from $1.1398. The British FTSE slipped 0.4 percent and the CAC 40 of France fell 0.3 percent. Germany's DAX dipped 0.1 percent.

Hong Kong's Hang Seng dropped 0.5 percent and Japan's Nikkei 225 index edged 0.2 percent lower. South Korea's Kospi added 0.1 percent.


----------



## bigdog

*Sea of Green*

Stocks in the U.S. and Europe jumped Friday as renewed hopes for progress in trade talks between the U.S. and China helped the markets finish the week with another strong gain.

*Stocks Keep Climbing as Hopes for US-China Trade Deal Rise*
U.S. stocks surge to their fourth weekly gain in a row as investors grow more optimistic about trade talks between the U.S. and China.
Jan. 18, 2019, at 4:25 p.m.







https://www.usnews.com/news/busines...se-stocks-rise-on-hopes-for-us-trade-progress

*Stocks Keep Climbing as Hopes for US-China Trade Deal Rise*
U.S. stocks surge to their fourth weekly gain in a row as investors grow more optimistic about trade talks between the U.S. and China.
Jan. 18, 2019, at 4:25 p.m.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks in the U.S. and Europe jumped Friday as renewed hopes for progress in trade talks between the U.S. and China helped the markets finish the week with another strong gain.

Indexes jumped after Bloomberg News reported that China's government offered to buy more goods and services from the U.S., potentially eliminating its trade deficit by 2024. For investors, the encouraging news on trade builds on recent positive signs for the U.S. economy and indications from the Federal Reserve that it will be patient when considering future interest rate hikes.

The Dow Jones Industrial Average is up 5.9 percent and the S&P 500 index has risen 6.5 percent so far this year, a surprisingly strong showing coming off a punishing end to 2018.

Technology and industrial companies made some of the top gains, while banks rose after more of them release their fourth-quarter reports. Oil and copper prices rose, while gold and bond prices fell. Those are all signs traders felt more optimistic about global economic growth.

Over the last few days investors grew steadily more hopeful the U.S. and China are narrowing their differences. On Wednesday the Chinese government said the top trade envoys from both countries will meet at the end of January.

"What you can see that is significant is that both sides are trying," said Tom Martin, senior portfolio manager of Globalt Investments. "Everybody feels like they've now made their point" after the two nations spent most of 2018 staking out positions and occasionally making threats.

Martin said the Federal Reserve has also made a big contribution to the rally.

The S&P 500 climbed 34.75 points, or 1.3 percent, to 2,670.71. The Dow jumped 336.25 points, or 1.4 percent, to 24,706.35. The Nasdaq composite added 72.76 points, or 1 percent, to 7,157.23.

Stock indexes have surged since reaching a low point on Christmas Eve, as the S&P 500 has risen for four weeks in a row. It climbed a 2.9 percent gain this week. It's risen at least 1.9 percent every week during that rally. The last time the index rose at least 1.5 percent for four weeks in a row was in early 2009, in the wake of the financial crisis, according to LPL Financial Senior Market Strategist Ryan Detrick.

The U.S. trade imbalance with China has been a source of constant complaints from President Donald Trump during the wide-ranging trade dispute. That deficit grew to a record $323.3 billion in 2018, and eliminating it could mean hundreds of billions of dollars in increased sales for U.S. companies. The two countries have raised taxes on billions of dollars of each other's goods in the spat over the trade deficit, Beijing's manufacturing plans, and U.S. complaints that China steals technology from foreign companies.

Stocks sank in late 2018 as investors worried that global economic growth, and U.S. growth in particular, would slow by more than they thought. Threats including the U.S.-China trade dispute, rising interest rates in the U.S., slowing growth in China and Europe, and unstable political situations like Brexit all made it seem like 2019 could be a disappointing year and some investors felt a recession was a possibility.

But now they're starting to think it won't get that bad. There are signs trade talks are progressing. The U.S. economy doesn't appear to have slowed much and China is working to perk up its economy. Resolving the trade dispute would also resolve an obstacle to growth for the global economy and corporate profits. The S&P 500, the main benchmark for U.S. stocks, fell 19.8 percent from late September to late December and has recovered more than half of those losses.

Trucking and logistics company J.B. Hunt Transportation jumped 6.2 percent to $106.11 and railroad company Kansas City Southern climbed 6.1 percent to $110.52 after their fourth-quarter reports.

European stocks jumped. Germany's DAX climbed 2.6 percent and the FTSE 100 in Britain rose 2 percent. The French CAC 40 gained 1.7 percent.

Faster growth would mean more demand for oil, and prices climbed. U.S. crude rose 3.3 percent to $53.80 in New York. Brent crude, used to price international oils, added 2.5 percent to $62.70 a barrel in London.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.79 percent from 2.74 percent. High-dividend stocks like utilities lagged the rest of the market. They tend to rise when investors are worried about the economy.

Tesla fell 13 percent to $302.26 after the company said it would cut 7 percent of its jobs. CEO Elon Musk said the cuts are meant to reduce costs as the company lowers the price for its cars. He said in a note to staff that the road ahead is "very difficult."

Asian stocks also finished higher. Hong Kong's Hang Seng gained 1.2 percent and the Nikkei 225 in Japan rose 1.3 percent. Seoul's Kospi added 0.8 percent.

In other commodities trading, wholesale gasoline rose 1.6 percent to $1.45 a gallon and heating oil added 1.6 percent to $1.92 a gallon. Natural gas jumped 2 percent to $3.48 per 1,000 cubic feet.

Gold dropped 0.8 percent to $1,282.70 an ounce and silver fell 0.9 percent to $15.40 an ounce. Copper rose 1.5 percent to $2.72 a pound.

The dollar rose to 109.79 yen from 109.23 yen. The euro fell to $1.1370 from $1.1390.

1704


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## bigdog

*NYSE was closed for Martin Luther King, Jr. Day Monday, January 21 2019*

*



*


*



*
*



*

https://www.usnews.com/news/busines...rkets-advance-on-optimism-over-china-us-trade

*Stocks Subdued as Chinese Growth Falls to Weakest Since '90*
World stock markets are subdued after China reported that its economy expanded by its slowest pace since 1990.

By ELAINE KURTENBACH, AP Business Writer

BANGKOK (AP) — World stocks were subdued Monday after China reported its slowest economic expansion in 30 years and the International Monetary Fund cut its forecasts for global growth this year.

KEEPING SCORE: Germany's DAX fell 0.6 percent to close at 11,136.20 while the CAC 40 in France slipped 0.2 percent to 4,867.78. Britain's FTSE 100 added less than 0.1 percent to 6,970.59. Wall Street remained closed for Martin Luther King Jr Day.

THE DAY IN ASIA: The Shanghai Composite Index added 0.6 percent to 2,610.51 and Hong Kong's Hang Seng index climbed 0.3 percent to 27,196.54. Japan's Nikkei 225 index rose 0.3 percent to 20,719.33, while South Korea's Kospi was flat at 2,124.61. The S&P ASX 200 in Australia added 0.2 percent to 5,890.40. India's Sensex surged 0.7 percent to 36,633.37. Shares rose in Southeast Asia and Taiwan.

CHINA'S ECONOMY: The 6.6 percent expansion of the world's second-largest economy was down from 2017's 6.9 percent and the weakest since 1990. China's communist leaders are trying to steer the country to slower, more self-sustaining growth based on consumer spending instead of trade and investment. But the slowdown has been sharper than expected, prompting Beijing to ease lending controls and step up government spending to shore up growth and avoid politically dangerous job losses. The lackluster data raised hopes for more policy action.

CHINA-US TRADE: Stock markets had been buoyed Friday by a Bloomberg News report that Chinese officials offered to buy more goods and services from the U.S., potentially eliminating its trade deficit by 2024. The Chinese government says the top trade envoys from both countries will meet at the end of January. The U.S. trade deficit with China grew to a record $323.3 billion in 2018. The two countries have raised taxes on billions of dollars of each other's goods in the spat over the trade deficit, Beijing's manufacturing plans, and U.S. complaints that China steals technology from foreign companies.

WORLD OUTLOOK: The IMF cut its forecast for global growth this year to 3.5 percent, from the 3.7 percent it had predicted in October and down from 2018's 3.7 percent. In its report, presented on the sidelines of the World Economic Forum in Davos, Switzerland, it cited the impact of global trade disputes as well as rising interest rates.

ENERGY: U.S. crude fell 8 cents to $53.72 per barrel in electronic trading on the New York Mercantile Exchange. It rose 3.3 percent on Friday to $54.04 in New York. Brent crude, used to price international oils, shed 16 cents to $62.60 per barrel. It added 2.5 percent to $62.70 a barrel in London on Friday.


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## samso

I forgot there was a holiday in the !!!  got into positions and then sat and looked at how nothing happened.... now its moving....


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## bigdog

Stocks fell sharply Tuesday following new signs the global economy is weakening and reports of difficulties in trade talks between the U.S. and China. That broke a four-day winning streak for U.S. indexes.






https://www.usnews.com/news/busines...ecline-on-concerns-over-global-china-slowdown

*Stocks Sink on Growth Fears and Possible Snag in Trade Talks*
Stocks take a steep loss to end a four-day winning streak after the International Monetary Fund cut its annual growth forecast for the global economy.
Jan. 22, 2019, at 4:44 p.m.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks fell sharply Tuesday following new signs the global economy is weakening and reports of difficulties in trade talks between the U.S. and China. That broke a four-day winning streak for U.S. indexes.

Major global indexes traded lower after the International Monetary Fund trimmed its economic forecasts for 2019 and 2020 and pointed to risks including trade tensions and rising interest rates. China's government said its economy grew in 2018 at the slowest pace since 1990. U.S. stocks took further losses after the Financial Times reported that the Trump administration canceled a proposed a meeting with Chinese trade officials this week.

Technology and internet companies skidded while energy companies sank with oil prices. Industrial companies also fell, hurt by the slower growth forecast and trade concerns as well as some weak fourth-quarter earnings. Bond prices climbed as investors looked for safer investments.

"We began last year, 2018, with a synchronized global recovery, and what we have now is a slowdown globally," said Quincy Krosby, chief market strategist at Prudential Financial. She said the reported difficulty in trade talks "has shaken up confidence that the U.S. and China are moving closer in the negotiating phase."

The S&P 500 index lost 37.81 points, or 1.4 percent, to 2,632.90. The Dow Jones Industrial Average slid 301.87 points, or 1.2 percent, to 24,404.48. The Nasdaq composite fell 136.87 points, or 1.9 percent, to 7,020.36.

The IMF is now says the global economy will grow 3.5 percent this year, down from its previous forecast of 3.7 percent. It cut its estimate for growth in 2020 to 3.6 percent from 3.7 percent. Earlier in the day, China reported its economy expanded by 6.6 percent in 2018.

Lately, global markets have rallied as investors began to feel that a slowdown in the world economy might not be that painful. The S&P 500 is up 5 percent in 2019 and has jumped 12 percent since hitting its recent low on Dec. 24. But Tuesday's losses were a reminder that investors will remain sensitive to clues that the global economy is weakening, and the trade dispute may be the top threat to economic growth.

According to the Financial Times, two officials were scheduled to travel to the U.S. ahead of meetings between the U.S. and China's top trade representatives next week. It said the meetings were canceled because of a lack of progress on some critical issues, which underscores how far apart the two sides remain.

Technology and industrial companies took some of the worst losses. Farm equipment company Deere fell 3.5 percent to $158.84. Among technology companies, chipmakers absorbed sharp losses. Nvidia fell 5.2 percent to $148.77.

Aluminum products maker Arconic slumped 16 percent to $17.09 after it said it is no longer considering a sale. Formerly a part of aluminum giant Alcoa, Arconic said it didn't receive any offers it thought were in its best interests. The stock has gyrated over the last few months following reports the company was considering a sale.

Power tools maker Stanley Black and Decker sank 15.5 percent to $115.69 after its forecast for 2019 fell short of Wall Street estimates.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.74 percent from 2.78 percent.

Homebuilders also sank after U.S. home sales cratered in December and price growth declined to the lowest level in more than six years. The National Association of Realtors said Tuesday that sales of already-built homes plunged 6.4 percent. Years of rising prices and the more recent increase in mortgage rates have both affected sales, as has the limited number of homes available for sale.

EBay jumped 6.1 percent to $32.90 after activist investment firm Elliott Management disclosed a 4 percent stake in the online marketplace and pushed it to make changes. It said eBay's classifieds and StubHub ticket resale division are both struggling, and eBay should consider separating them from its marketplace business.

British Prime Minister Theresa May presented her Plan B for Britain's exit from the European Union on Monday, but it looks a lot like the original and it's not clear if she can win approval in Parliament, which gave her previous plan a resounding "no" last week. The European Union has said it won't renegotiate that deal.

Britain is scheduled to leave the European Union in a little more than two months, and if it doesn't have a trade deal in place, it could cause major hardships for numerous companies, especially banks.

U.S. crude lost 2.3 percent to $52.57 a barrel in New York. Brent crude, used to price international oils, fell 2 percent to $61.50 a barrel in London.

The British FTSE 100 index slid 1 percent. Germany's DAX and CAC 40 in France both gave up 0.4 percent.

Japan's Nikkei 225 index shed 0.5 percent and the Kospi in South Korea sank 0.3 percent. Hong Kong's Hang Seng lost 0.7 percent.

In other commodities trading, natural gas dropped 12.7 percent to $3.04 per 1,000 cubic feet. Wholesale gasoline fell 3.5 percent to $1.40 a gallon and heating oil lost 0.8 percent to $1.90 a gallon. Gold rose 0.1 percent to $1,283.40 an ounce and silver slipped 0.5 percent to $15.33 an ounce. Copper fell 2.2 percent to $2.66 a pound.


----------



## bigdog

U.S. stock indexes spent Wednesday drifting and finished with small gains. While big companies continue to report strong profit growth, investors aren't sure how much longer it will last.






https://www.usnews.com/news/busines...es-mixed-on-worries-over-us-china-trade-talks

*US Stocks Waver as Signs of Future Profit Growth Wobble*
Stock indexes meander and finish slightly higher after IBM and Procter & Gamble report impressive results, but oil prices slip for the third time in four days.
Jan. 23, 2019, at 4:56 p.m. 

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stock indexes spent Wednesday drifting and finished with small gains. While big companies continue to report strong profit growth, investors aren't sure how much longer it will last.

The S&P 500 index rallied 0.8 percent in the morning after fourth-quarter earnings from major companies including IBM, consumer products maker Proctor & Gamble, and manufacturer United Technologies. Later, traders focused on some less encouraging quarterly reports and the muddled state of trade talks between the U.S. and China, and the S&P 500 lost 0.8 percent before it gradually turned higher.

Corporate profit growth shot higher in early 2018 after the Republican-backed corporate tax cut, but Liz Ann Sonders, chief investment strategist for Charles Schwab, said corporate profits are now growing at a slower clip because of economic weakness in Europe and China and a steep decline in oil prices.

"Even if we end up with the best case scenario on trade, it doesn't alleviate... global growth slowing, earnings uncertainty with regard or 2019, (or) monetary policy," she said.

Smaller companies lagged Wednesday, and most of the companies listed on the New York Stock Exchange finished with losses. Energy companies fared the worst as the price of crude oil fell for the third time in four days after a strong start to 2019.

The S&P 500 added 5.80 points, or 0.2 percent, to 2,638.70 after a 1.4 percent loss Tuesday. The Dow Jones Industrial Average climbed 171.14 points, or 0.7 percent, to 24,575.62.

The Nasdaq composite edged up 5.41 points, or 0.1 percent, to 7,025.77. The Russell 2000 index of smaller-company stocks dipped 3.20 points, or 0.2 percent, to 1,454.26.

IBM rocketed 8.5 percent to $132.89 after its fourth-quarter results surpassed Wall Street estimates. Investors were also pleased with the company's forecasts for 2019. BMO Research analyst Keith Bachman said critical operations including IBM's business and technology services divisions did well in the quarter. IBM stock sank 25 percent in 2018.

Tide, Bounty and Crest maker Procter & Gamble rallied 4.9 percent to $94.84 after its profit came out ahead of expectations and its sales were well above analyst forecasts as well. The company said its annual profit and sales could be slightly stronger than it previously expected.

Elevator and jet engine maker United Technologies staged its biggest rally in almost a decade, rising 5.1 percent to $116.67 following its quarterly report. Media company Comcast jumped 5.5 percent, its biggest gain in almost three years, after it picked up more internet subscribers and got a revenue boost from Sky, its big bet on European TV. The stock closed at $36.89.

The corporate tax cut might aid U.S. company profits on a permanent basis, but as investors compared 2018 to the year before, the tax cut caused a big one-time increase in profit growth. Investors have always known that boost wouldn't be repeated in 2019, and in recent months they've become more pessimistic, wondering if growth will slow down dramatically or if profits might even start shrinking in the months ahead.

Sonders, of Charles Schwab, added that consumer confidence has been slipping, and the partial shutdown of the federal government, which has lasted a month, could make matters worse. She said numerous companies that perform contract work for the government might have to start laying off workers soon.

Federal employees will miss their second consecutive paycheck Friday unless there is a deal to end the shutdown before then.

Stocks had slumped Tuesday as investors reacted to signs of slower global economic growth, including a weakened forecast from the International Monetary Fund. They also worried about possible trouble in trade talks between the U.S. and China.

White House economic adviser Larry Kudlow denied media reports saying the U.S. had turned down an offer by Chinese trade officials to meet this week, due to a lack of progress on issues such as protection of intellectual property. Chinese Vice Premier Liu He and U.S. Trade Representative Robert Lighthizer are scheduled to meet next week.

"It's frustrating for investors who are trying to get a sense of what's happening when you have members of the administration often contradicting each other," said Sonders.

Other corporate reports were less encouraging. Abbott Laboratories, which makes Ensure and Pedialyte nutritional shakes, heart devices and medications, fell 2.2 percent to $69.91 after its revenue disappointed investors. Credit card issuer Capital One shed 6.2 percent to $78.20 after its profit and revenue both fell short of expectations.

Bond prices dipped. The yield on the 10-year Treasury note rose to 2.74 percent from 2.73 percent.

U.S. crude oil lost 0.7 percent to $52.62 per barrel in New York. Brent crude, used to price international oils, fell 0.6 percent to $61.14 per barrel in London.

The British FTSE 100 gave up 0.8 percent. France's CAC 40 slipped 0.1 percent and the German DAX shed 0.2 percent. Britain's FTSE 100 lost 0.5 percent.

Japan's Nikkei 225 index shed 0.1 percent. South Korea's Kospi rose 0.5 percent and Hong Kong's Hang Seng was almost flat.

In other commodities trading, wholesale gasoline slipped 1.1 percent to $1.39 a gallon and heating oil fell 0.7 percent to $1.89 a gallon. Natural gas shed 2 percent to $2.98 per 1,000 cubic feet. Gold was unchanged at $1,284 an ounce and silver rose 0.4 percent to $15.38 an ounce. Copper slipped 0.2 percent to $2.65 a pound.


----------



## bigdog

U.S. stocks finish mostly higher after a second consecutive day of mixed trading, as strong results from chipmakers are partly balanced by losses for drugmakers.






https://www.usnews.com/news/busines...es-buoyed-by-us-earnings-upbeat-talk-on-china

*Stocks Waver Again as Chipmakers Jump and Drug Companies Dip*
U.S. stocks finish mostly higher after a second consecutive day of mixed trading, as strong results from chipmakers are partly balanced by losses for drugmakers.
Jan. 24, 2019, at 4:48 p.m. 

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks finished mostly higher Thursday as another day of mixed trading showed the market's recent rally losing some strength. Chipmakers rose, while drugmakers fell.

Chipmakers Xilinx and Lam Research soared and many of their peers also climbed as investors, many of whom have been pessimistic about demand for computer chips recently, saw signs of life in the business. The Philadelphia Semiconductor Index rose to its highest level since early December. Airlines also rose after several strong quarterly reports.

About two-thirds of the stocks on the New York Stock Exchange closed with gains, but major stock indexes didn't move much. Drugmakers including Merck and Pfizer took sharp losses, and spice maker McCormick had its biggest drop in 13 years. Other household products companies also sank.

The S&P 500 index rose 3.63 points, or 0.1 percent, to 2,642.33. The benchmark U.S. index is up 12.4 percent over the last month, but it's slipped 1.1 percent this week after big gains in each of the past four weeks. The Dow Jones Industrial Average dipped 22.38 points, or 0.1 percent, to 24,553.24.

Thanks to the big gains for technology companies, the Nasdaq composite added 47.69 points, or 0.7 percent, to 7,073.46. The Russell 2000 of small-company stocks gained 10.15 points, or 0.7 percent, to 1,464.41.

Brad McMillan, chief investment officer for Commonwealth Financial Network, said Wall Street analysts had become pessimistic in the last few months and thought this round of company earnings might be a big disappointment. As a result, they cut their forecasts for companies.

"There's an expectation that things are going to be terrible, but in fact things aren't terrible at all," he said. McMillan added that results from banks have been good, which suggests the U.S. economy is in decent shape.

"That's a sign, for all the worries about the economy, that things aren't as bad as people think they are," he said.

Xilinx surged 18.4 percent to $106.06 after its third-quarter results topped expectations. The company said it's benefiting from the expansion of 5G wireless networks in South Korea and preparations for deployment in China and North America, while several automakers are talking about using Xilinx products in autonomous cars. It made its biggest gain in 27 years.

Lam Research gained 15.7 percent to $161.20, its best day in 14 years, and Texas Instruments rallied 6.9 percent to $102.09 after their reports. Intel, the world's largest chipmaker, gained 3.8 percent to $49.76.

But if the companies are on the road to recovery, the ride doesn't look smooth. Intel tumbled 7.1 percent in aftermarket trading after its fourth-quarter results and its forecasts for the current year both disappointed investors.

American Airlines rallied 6.4 percent to $33.66 after reporting solid results in its latest quarter, and Southwest climbed 6.3 percent to $54.21. Southwest said the partial shutdown of the federal government could cost it up to $15 million in revenue this month, echoing Delta's statement that it could lose $25 million in revenue. While that's noticeable, it's a relatively small portion of their total revenue.

Among drug companies, Merck fell 3 percent to $73.17 and Pfizer lost 2.9 percent to $40.95 while Eli Lily slid 3.2 percent to $114.99.

McCormick slumped 10.5 percent to $124.35 after its quarterly profit and revenue both fell short of expectations. Investors were also disappointed with the spice and seasonings company's forecasts for 2019. The company has dramatically outperformed the broader stock market for the last few decades, and Thursday was its largest loss since September 2005.

Utility company PG&E surged 74.6 percent to $13.95 after investigators ruled that the company was not at fault for a North California wildfire that killed 22 people in 2017. The stock has plunged since November on concerns the company might be liable for billions of dollars in damages caused by that fire, and for the Camp Fire of 2018, which killed at least 86 people and destroyed 15,000 homes.

Those potential liabilities pushed the company to file for bankruptcy this month.

The European Central Bank did not change its interest rates or its projection for when it might start raising them. European Central Bank head Mario Draghi says risks to the European economy are increasing and the bank is ready to "adjust all of its instruments" if it runs into serious trouble.

The ECB is aiming to raise rates even though the European economy has cooled as countries including Germany have lost some strength. Schroders Investment Strategist Marina Severinovsky said the bank probably should have started raising rates in 2017, when the global economy was growing at a stronger pace.

"The ECB probably missed a key opportunity when markets were riding high," she said. "That may have been a time to move with more decisiveness."

Bond prices moved higher. The yield on the 10-year Treasury note fell to 2.71 percent from 2.75 percent.

U.S. crude oil rose 1 percent to $53.13 per barrel in New York. Brent crude, used to price international oils, slipped 0.1 percent to $61.09 per barrel in London.

Wholesale gasoline and heating oil both finished little changed, at $1.39 a gallon and $1.89 a gallon, respectively. Natural gas jumped 4 percent to $3.10 per 1,000 cubic feet.

The dollar edged up to 109.67 yen from 109.59 yen. The euro fell to $1.1299 from $1.1383.

Germany's DAX climbed 0.5 percent and the French CAC 40 rose 0.7 percent. The FTSE 100 in Britain slid 0.3 percent.

Hong Kong's Hang Seng picked up 0.4 percent and Japan's Nikkei 225 index declined 0.1 percent


----------



## bigdog

*Upbeat session elevates ASX to two-month high*
AGE - Saturday, 26 Jan 2019 - Page 67

Australian shares ended the week on an upbeat note, as gains in yield friendly utility and real estate companies helped push the benchmark to a two-month high.

The S&P/ASX 200 Index rose 39 points, or 0.7 per cent, to 5905 on Friday, while the All Ordinaries Index rose 40 points, or 0.7 per cent, to 5917. The Australian dollar traded at US70.97¢.

Over the week, the benchmark index rose 26 points, or 0.4 per cent, to 5905, while the All Ordinaries Index rose 29 points, or 0.5 per cent, to 5917.


Stocks closed higher on Wall Street Friday, recovering a chunk of their losses from earlier in the week. Technology and industrial companies jumped.





https://www.usnews.com/news/busines...es-rise-on-optimism-over-china-us-trade-talks

*Tech Rises, but Four-Week Winning Streak for Stocks Ends*
US stocks finish broadly higher as technology companies jumped. Other companies that stand to benefit from faster economic growth, like industrials and retailers, also rose.
Jan. 25, 2019, at 4:54 p.m.

By MARLEY JAY and DAMIAN J. TROISE, AP Markets Writers

NEW YORK (AP) — Stocks closed higher on Wall Street Friday, recovering a chunk of their losses from earlier in the week. Technology and industrial companies jumped.

Traders took a brighter view on the economy, and U.S. companies continued to report solid results for the fourth quarter. Energy and consumer-focused companies as well as basic materials makers all did better than the broader market. Those industries and stocks tend to benefit the most when economic growth improves.

Markets didn't react much to news that President Donald Trump and congressional leaders reached a deal to reopen the federal government for three weeks while talks continue over Trump's demands for money to build a wall along the U.S. border with Mexico.

Trump announced the agreement to break the 35-day impasse as delays at airports and widespread disruptions brought new urgency to efforts to end the partial shutdown. Trump almost immediately threatened another shutdown or emergency action if he does not get a "fair deal."

The S&P 500 surged 10 percent during the shutdown, which started when the stock market was at its low point in December. Some experts feel that the standoff won't have a lasting effect on the market or the economy, with government employees resuming their spending as soon as they are repaid for their work in January.

But Kristina Hooper, chief global market strategist for Invesco, said the magnitude of the shutdown might have major effects on consumers' confidence.

"If the government can't work together in times where there are no real crises, imagine what would happen in an environment where there was a real crisis," she said. "It's hard to envisage Congress and the executive branch putting their differences aside and working together."

She added that the government's dysfunction might contribute to the U.S.' credit being downgraded, and if that happens, investors are likely to flee the stock market and pour money into the bond market. That's what they did when the country's credit rating was cut in 2011.

The S&P 500 index rose 22.43 points, or 0.8 percent to 2,664.76, but the index fell 0.2 percent for the week after big gains in the past four. The Dow Jones Industrial Average added 183.96 points, or 0.7 percent, to 24,737.20.

The Nasdaq composite climbed 91.40 points, or 1.3 percent, to 7,164.86. The Russell 2000 index of smaller company stocks increased 18.45 points, or 1.3 percent, to 1,482.85.

Hard drive maker Western Digital vaulted 7.5 percent to $43.16 after the company said it expects business to improve in the second half of its fiscal year. That overshadowed a weaker-than-expected second quarter. Competitor Seagate Technology also gained 6.6 percent to $43.66.

Other tech stocks also climbed. Apple rose 3.3 percent to $157.76. Those gains outweighed disappointing quarterly results and weak forecasts from the world's largest chipmaker, Intel. Its shares slumped 5.5 percent to $47.04.

Starbucks rose 3.6 percent to $67.09 after the company reported revenue and profit growth with the help of a strong holiday season. The results topped expectations and the company gave an upbeat outlook for the year.

The Wall Street Journal reported that the Federal Reserve might soon halt the shrinking of its bond portfolio. The Fed bought trillions of dollars in bonds following the recession in 2008 to help keep interest rates low and aid an economic recovery. It started gradually letting its portfolio shrink recently, but investors are concerned that will tighten credit conditions, which could slow economic growth.

"Although the economic data are pretty solid right now, the markets have basically told us that we are not tolerating additional tightening," said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.75 percent from 2.71 percent.

Drugmakers fell sharply. Abbvie fell 6.2 percent to $80.54 after the company said international sales of its drug Humira weakened in response to growing competition in key markets including Europe. AbbVie gets most of its revenue from Humira, which is the top-selling prescription medication in the world in terms of revenue. Drugmakers and health care stocks stumbled this week.

The S&P 500 has climbed 6.3 percent in January, an echo of its big rally one year earlier. The index surged 7.5 percent in the first few weeks of January 2018 before a sharp plunge. That set the stage for a tumultuous year, the worst one in a decade for the stock market. Experts say 2019 could be similarly rocky as investors react to political uncertainty and slowing economic growth worldwide, exacerbated by trade tensions and rising interest rates.

U.S. crude oil rose 1.1 percent to settle at $53.69 a barrel in New York. Brent crude, used to price international oils, rose 0.9 percent to $61.64 in London.

Wholesale gasoline stayed at $1.39 a gallon and heating oil added 0.3 percent to $1.89 a gallon. Natural gas gained 2.5 percent to $3.18 per 1,000 cubic feet.

The dollar dipped to 109.64 yen from 109.67 yen. The euro rose to $1.1414 from $1.1299.

Gold jumped 1.4 percent to $1,298.10 an ounce. Silver added 2.6 percent to $15.70 an ounce and copper climbed 3.2 percent to $2.73 a pound.

France's CAC 40 rose 1.1 percent, while Germany's DAX gained 1.4 percent. Both finished the week with solid gains. Britain's FTSE 100 fell 0.1 percent and finished the week down 2.3 percent. The country is moving closer to leaving the European Union without a trade deal, meaning Britain still faces tariffs and economic turmoil if its situation doesn't change before March 29.

Japan's Nikkei 225 rose 1 percent, South Korea's Kospi surged 1.5 percent and Hong Kong's Hang Seng gained 1.6 percent.

2219


----------



## bigdog

Stock indexes sank Monday after twin announcements highlighted how much China's slowing economic growth is hurting profits for U.S. companies.

ASX was closed Monday for Australia Day Holiday






https://www.usnews.com/news/busines...all-back-on-caution-over-china-us-trade-talks

*Stocks Slide as Slow Growth in China Weighs on Earnings*
Major indexes are falling as weak growth in China cuts into corporate financial results.

By DAMIAN J. TROISE, AP Business Writer

NEW YORK (AP) — Stock indexes sank Monday after twin announcements highlighted how much China's slowing economic growth is hurting profits for U.S. companies.

Caterpillar, a bellwether for industrial companies, reported fourth-quarter earnings that fell well short of analysts' expectations and said that it expects construction growth in China to be flat in 2019 following years of significant growth. Chipmaker Nvidia, meanwhile, cited slowing demand in China as one of the reasons for slashing its forecast for fourth-quarter revenue.

Wall Street had already been fixated on the effects of China's slowdown, particularly with trade tensions high between Washington and Beijing, and the announcements sent the technology and industrial sectors to sharp losses. They helped drag the S&P 500 down 20.91 points, or 0.8 percent, to 2,643.85.

The Dow Jones industrial average fell 208.98, or 0.8 percent, to 24,528.22, the Nasdaq composite lost 79.18, or 1.1 percent, to 7,085.68 and the Russell 2000 index of small-cap stocks dropped 9.32, or 0.6 percent, to 1,473.54.

China, the world's second-largest economy, generated its slowest economic growth last year since 1990, and the impact is being felt widely among the many U.S. companies that rely on China for sales, especially industrial and technology companies. China accounts for 5.5 percent of all revenue for S&P 500 companies, second-most in the world after the United States, according to FactSet.

Nvidia and Caterpillar fell to the sharpest losses in the S&P 500, with drops of 13.8 percent and 9.1 percent, respectively.

Tech giants Microsoft and Apple were also weighed down by China concerns. Microsoft fell 2 percent, and Apple shed 0.9 percent. Apple shook markets earlier this month when it warned of lagging sales in China.

Kristina Hooper, chief global market strategist at Invesco, expects a "widespread" impact from the global slowdown and said Apple was "the canary in the coal mine."

"This, if nothing else, is putting more emphasis and focus on U.S.-China trade talks this week," she said.

Talks aimed at resolving the impasse over Chinese technology policy and other issues are due to resume in Washington this week. Analysts say there might be moves to trim China's massive trade surplus with the U.S. that could stave off further hikes in punitive tariffs imposed by both sides. However, they expect gaps to remain on key problems such as China's blueprint for state-led development of leading technologies

The trade meeting is just one of several big events that could swing markets in a busy week. Also upcoming are a meeting by the Federal Reserve on interest rates, the U.S. jobs report and earnings reports from about a quarter of all the companies in the S&P 500 index.

Investors are hoping for encouraging clues that interest rates will remain low enough and job growth strong enough so as to avoid a recession. Fear of a potential recession took its toll on the stock market at the end of 2018, and the S&P 500 fell nearly 20 percent between setting its record on Sept. 20 and Christmas Eve.

In Europe, the threat of a continued economic slowdown has been hanging over what is an already contentious situation with Britain's expected departure from the European Union in March. Economic growth in Europe slowed in the last half of 2018 and indicators at the start of this year have been weak.

The British FTSE 100 lost 0.9 percent, while the French CAC 40 fell 0.8 percent and the German Dax lost 0.6 percent. In Asia, Japan's Nikkei 225 index fell 0.6 percent. The Hang Seng in Hong Kong and South Korea's Kospi were both virtually flat.

In the commodities market, U.S. crude oil fell 3.2 percent to settle at $51.99 per barrel in New York. Brent crude, used to price international oils, fell 2.8 percent to $59.93 per barrel.

The price of oil did not have a big reaction to the Trump administration imposing sanctions Monday on the state-owned oil company of Venezuela.

Wholesale gasoline fell 4.1 percent to $1.33 a gallon. Heating oil lost 2.9 percent to $1.84 a gallon and natural gas dropped 8.4 percent to $2.91 per 1,000 cubic feet.

The price of gold rose 0.4 percent to $1,303.10 an ounce, silver also rose 0.4 percent to $15.77 an ounce and copper fell 1.8 percent to $2.68 a pound.

Bond prices rose. The yield on the 10-year Treasury note dipped to 2.74 percent from 2.75 percent late Friday.

The dollar slipped to 109.36 Japanese yen from 109.64 yen late Friday. The euro rose to $1.1427 from $1.1414, and the British pound dipped to$1.3158 from $1.3198.


----------



## bigdog

Stocks posted an uneven finish on Wall Street Tuesday, handing the S&P 500 index its second decline in a row.





https://www.usnews.com/news/busines...ks-slip-on-huawei-charges-as-trade-talks-loom

*US Stocks End Mixed as Wall Street Assesses Earnings*
Stocks posted an uneven finish on Wall Street Tuesday, handing the S&P 500 index its second decline in a row.
Jan. 29, 2019, at 4:55 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks posted an uneven finish on Wall Street Tuesday, handing the S&P 500 index its second decline in a row.

An early gain faded as investors assessed a mixed bag of corporate results and looked ahead to a heavy schedule of news on companies and the economy.

Xerox and 3M rose after reporting solid results, but Harley-Davidson fell. Apple, which alarmed traders earlier this month when it disclosed that demand for iPhones is waning, reported earnings that topped Wall Street's forecasts.

"We think earnings are good and economic growth is good, it's just not great like it was last year," said John Lynch, chief investment strategist for LPL Financial.

The Dow Jones Industrial Average gained 51.74 points, or 0.2 percent, to 24,579.96. The benchmark S&P 500 index dropped 3.85 points, or 0.1 percent, to 2,640.

The tech-heavy Nasdaq composite fell 57.39 points, or 0.8 percent, to 7,028.29. The Russell 2000 index of smaller companies gave up 2.09 points, or 0.1 percent, to $1,471.45. Major stock indexes in Europe closed higher.

Losses in technology and media companies outweighed solid gains in industrial and health care stocks.

Of the 22 percent of S&P 500 companies that have reported results for the October-December quarter, about 46 percent have posted earnings and revenue that topped Wall Street's expectations, according to S&P Global Market Intelligence.

Corning delivered an upbeat fourth-quarter report, topping forecasts. The company expects more growth for its display-glass and optical communications segments, which makes screens for electronic devices and fiber optic cables. The stock jumped 11.1 percent to $33.72.

Pfizer rose after the world's largest drugmaker reported mixed results. While hefty costs for layoffs and acquisitions sunk fourth-quarter profit, the results still topped Wall Street forecasts. The company has been struggling to upgrade sterile injectable drug factories it bought from Hospira, but repairs have dragged on and production shutdowns have cut into sales.

Pfizer also gave Wall Street a weak sales and profit outlook for the year, but the company is still coming off a good year, getting four new cancer drugs that could be blockbusters approved in the last 14 weeks of 2018. The stock climbed 3.1 percent to $40.77.

Nucor, the biggest U.S. steelmaker, said profit surged 68.5 percent during the quarter thanks in large part to a growing economy. The company also saw increased steel shipments and prices. The stock gained 2.8 percent to $60.13.

Xerox surged on better-than-expected fourth-quarter results and an upbeat forecast as it restructures its operations. Xerox vaulted 11.4 percent to $27.07. 3M rose 1.9 percent to $196.95 on upbeat fourth-quarter results and a positive forecast.

The latest quarterly results from some companies failed to impress investors.

Harley-Davidson fell after the motorcycle maker reported a drop in sales worldwide, led by a weak showing in the U.S. Shipments worldwide fell 7.9 percent. The company, which has been struggling to boost sales domestically, has been increasingly looking to sell more bikes overseas. It has warned that the ongoing trade dispute with China would raise costs. Harley's stock dropped 5.1 percent to $34.76.

GameStop plunged after the company said it will no longer pursue a sale because of difficulty securing financing. The video game retailer is at its lowest value in nearly 14 years. The stock slid 27.2 percent to $11.28.

Even with Tuesday's mixed finish, the market is still on track to close out January with solid gains after a lousy December as Wall Street fretted over the ongoing U.S.-China trade conflict, uncertainty over the path of interest rates and signs of a weakening global economy.

American and Chinese negotiators will sit down for two days of trade talks starting Wednesday in Washington. Those talks could be more tense than usual. China has called on Washington to "stop the unreasonable crackdown" on telecom equipment maker Huawei, warning it would defend its companies. The statement comes after the U.S. escalated pressure on the tech giant by indicting it on charges of stealing technology and violating sanctions on Iran.

Among other potential market-moving news this week:

The Federal Reserve ends its latest interest rate policy meeting on Wednesday and the government releases its monthly employment report, the most important indicator on the U.S. economy, on Friday.

The jobs report will have even more importance than usual because many other reports on the economy have been delayed because of the five-week partial shutdown of the federal government that ended Friday.

U.S. crude oil rose 2.5 percent to settle at $53.31 per barrel in New York. Brent crude, used to price international oils, added 2.3 percent to $61.32 per barrel in London.

Bond prices rose. The yield on the 10-year Treasury fell to 2.71 percent from 2.74 percent late Monday.

The dollar weakened to 109.28 yen from 109.36 yen on Monday. The euro held steady against the dollar at $1.1427.

Gold rose 0.4 percent to $1,308.90 an ounce. Silver added 0.5 percent to $15.84 an ounce. Copper gained 1.7 percent to $2.73 a pound.

In other energy futures trading, wholesale gasoline rose 1.3 percent to $1.35 a gallon. Heating oil climbed 3.3 percent to $1.90 a gallon. Natural gas gained 1.3 percent to $2.95 per 1,000 cubic feet.


----------



## bigdog

https://www.usnews.com/news/busines...res-mixed-ahead-of-fed-meeting-us-china-talks

*Stocks Jump After Fed Indicates Patience on Rate Increases*
Stocks finished sharply higher Wednesday after the Federal Reserve signaled it could hold off on interest rate increases in the coming months, citing muted inflation.
Jan. 30, 2019, at 4:40 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks finished sharply higher Wednesday after the Federal Reserve signaled it could hold off on interest rate increases in the coming months, citing muted inflation.

Technology companies powered the broad rally, which snapped the market's two-day losing streak. The benchmark S&P 500 index is now track to end January with its biggest monthly gain in more than three years, and the gains pushed the Dow Jones Industrial Average above 25,000 points for the first time since early December.

"The Fed gave the market everything it wanted in terms of a dovish message," said Willie Delwiche, investment strategist at Baird. "Now it's saying maybe there will be rate hikes, maybe there won't be."

The midafternoon Fed announcement added to early gains as traders welcomed positive results and outlooks from several big companies including Boeing.

The aerospace giant soared after blowing away analysts' forecasts for earnings and as its annual revenue topped $100 billion for the first time. The gain in Boeing's stock accounted for about a third of the 434-point gain in the Dow Jones Industrial Average.

The S&P 500 index rose 41.05 points, or 1.6 percent, to 2,681.05. The Dow gained 434.90 points, or 1.8 percent, to 25,014.86.

The Nasdaq composite climbed 154.79 points, or 2.2 percent, to 7,183.08. The Russell 2000 index of smaller companies picked up 15.49 points, or 1.1 percent, to 1,486.94. The Russell is up more than 10 percent this month.

Jitters over the ongoing U.S.-China trade conflict, uncertainty over the path of interest rates and signs of a weakening global economy helped knock the market into a steep slump in December that left the S&P 500 index 9.2 percent lower for the month. The market has since rebounded, with the index is now on track to end January with a 7 percent gain. That would be the biggest monthly increase since October 2015.

While concerns over trade and the health of the global economy remain, the Fed's announcement allays one of the market's biggest concerns: That the economy, and corporate profits, could be hurt if the Fed continued its recent pace of rate hikes.

"Stocks are certainly celebrating an increasingly friendly message from the Fed," Delwiche said. "It's not just a more measured pace in rate hikes, but it's questioning whether or not there will be additional rate hikes."

With pressures on the U.S. economy rising — a global slowdown, a trade war with China, a nervous stock market — the Fed signaled Wednesday that it is in no hurry to resume raising interest rates. And with inflation remaining tame, the rationale to tighten credit has become less compelling.

"The situation calls for patience," Chairman Jerome Powell said at a news conference. "We have the luxury to be patient."

The Fed's benchmark short-term rate will remain in a range of 2.25 percent to 2.5 percent after having been raised four times last year. The central bank also said it is prepared to slow the reduction of its bond holdings if needed to support the economy. That would put downward pressure on long-term interest rates such as mortgages.

An early rally had stocks notching gains hours before the Fed's announcement as investors welcomed some encouraging corporate earnings reports.

Boeing surged 6.3 percent to $387.72 after the company delivered more planes and racked up a significant amount of government contracts during the fourth quarter. Revenue surged 14 percent as the company delivered more commercial and military planes. Profit and revenue topped expectations.

Apple rose 6.8 percent to $165.25 after traders brushed off a slide in iPhone sales. The technology giant's latest results met Wall Street's diminished expectations.

Anthem, the nation's second-largest health insurer, soared 9.1 percent to $297.56 on an upbeat forecast for 2019.

Corporate earnings have so far been holding up in the face of the global slowdown and trade conflicts. So far, roughly a quarter of the companies in the S&P 500 have reported results for the final three months of 2018. Of those, some 77 percent delivered earnings growth that topped Wall Street's expectations. Some, though, are lowering expectations for 2019.

Trade talks opened Wednesday between the U.S. and China and will loom over the market for the remainder of the week. The high-level talks are aimed at settling a monthslong trade war that has raised fears of slower economic growth. Industrial and technology companies have warned about slowing sales because of the trade impasse.

U.S. crude oil rose 1.7 percent to settle at $54.23 per barrel in New York. Brent crude, used to price international oils, added 0.5 percent to close at $61.65 per barrel in London.

Bond prices rose. The yield on the 10-year Treasury fell to 2.67 percent from 2.71 percent late Tuesday.

The dollar weakened to 108.92 yen from 109.28 yen on Tuesday. The euro rose against the dollar to $1.1492 from $1.1427.

Gold rose 0.1 percent to $1,309.90 an ounce. Silver added 0.6 percent to $15.93 an ounce. Copper gained 1.6 percent to $2.77 a pound.

In other energy futures trading, wholesale gasoline rose 2.3 percent to $1.38 a gallon. Heating oil was little changed at $1.90 a gallon. Natural gas gained 1.3 percent to $2.95 per 1,000 cubic feet.


----------



## daytradeprofit

*




	

		
			
		

		
	
 Need to watch closely crucial time arrived the markets- trigger points is here...*http://www.daytrade-profit.com/2019/01/need-to-watch-closely-crucial-time.html


----------



## bigdog

Wall Street got its mojo back in January after finishing 2018 with its worst December since 1931.

Stocks finished higher Thursday, closing out the month with the best gain for the S&P 500 index since October 2015.






https://www.usnews.com/news/busines...es-mostly-higher-on-upbeat-china-factory-data

*S&P 500 Index Delivers Biggest Monthly Gain Since 2015*
Wall Street got its mojo back in January after finishing 2018 with its worst December since 1931. Stocks finished higher Thursday, closing out the month with the best monthly gain for the S&P 500 index since 2015.
Jan. 31, 2019, at 5:01 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street got its mojo back in January after finishing 2018 with its worst December since 1931.

Stocks finished higher Thursday, closing out the month with the best gain for the S&P 500 index since October 2015.

A series of strong corporate earnings helped power the monthlong rally, which followed a dismal December that nearly brought the benchmark index into a bear market, meaning a decline of 20 percent from a recent peak.

Facebook helped drive the market higher on Thursday after reporting solid user metrics. Charter Communications soared after its revenue came in ahead of forecasts. General Electric also climbed. Amazon reported earnings after the close of regular trading that topped Wall Street's forecasts.

Homebuilders surged following new data showing sales of new U.S. homes soared in November.

Strong results and outlooks from big U.S. companies seem to be calming some of the fears investors had that a recession might be looming.

"Overall, we're still encouraged that this earning season is comforting to people," said Ryan Detrick, senior market strategist at LPL Financial.

The S&P 500 index rose 23.05 points, or 0.9 percent, to 2,704.10. It rose 7.9 percent in January. In December, it tumbled 9.2 percent.

The Dow Jones Industrial Average fell 15.19 points, or 0.1 percent, to 24,999.67. The Nasdaq composite climbed 98.66 points, or 1.4 percent, to 7,281.74. The Russell 2000 index of smaller companies picked up 12.48 points, or 0.8 percent, to 1,499.42.

Communications, health care and consumer goods and services stocks powered Thursday's market gain as investors remained focused on corporate earnings, which have been mixed.

Facebook beat Wall Street's profit and revenue forecasts, despite an increase in spending on privacy and security. Its user base grew to 2.32 billion, up 9 percent from a year earlier and higher than analysts' forecasts. The stock gained 10.8 percent to $166.69.

General Electric reported mixed results for the fourth quarter, but revenue and profit were still higher across most of its segments. The industrial conglomerate has been cutting costs and spinning off units for years in a bid to boost its bottom line. The stock climbed 11.6 percent to $10.16.

Microsoft fell 1.8 percent to $104.43 after the technology company swung to a profit in its latest quarter, driven by revenue growth at its cloud-computing platform. The results beat forecasts, but the company's key personal computing segment fell short of estimates.

Homebuilders climbed on new data showing sales of newly built homes soared in November. The Commerce Department said new home sales jumped 16.9 percent in November from the previous month. Despite the healthy gain, sales remain 7.7 percent below the pace from a year earlier. The report was delayed by the 35-day government shutdown. Meritage Homes led the pack, vaulting 10.1 percent to $45.08.

Concerns over the ongoing U.S.-China trade conflict, uncertainty over the path of interest rates and signs of a weakening global economy helped knock the market into a steep slump in December. While concerns over trade and a slowing economy remain, corporate earnings have put investors in a buying mood. And this week, the Federal Reserve sent a strong signal to the markets that it is in no hurry to raise interest rates in coming months, another confidence boost for the market.

Trade talks between the U.S. and China entered a second day Thursday. President Donald Trump voiced optimism before meeting with representatives from China, but noted there would be "no final deal" until he sits down with Chinese President Xi Jinping.

Among the biggest gainers in January were Xerox and Celgene, which climbed 42.8 percent and 38 percent, respectively. General Electric also turned in a big January gain: 34.2 percent.

Boeing notched the biggest January gain in the 30-company Dow, rising 19.6 percent.

U.S. crude oil fell 0.8 percent to settle at $53.79 per barrel in New York. Brent crude, used to price international oils, added 0.4 percent to close at $61.89 per barrel in London.

Bond prices rose. The yield on the 10-year Treasury fell to 2.64 percent from 2.69 percent late Wednesday.

The dollar fell to 108.66 yen from 108.92 yen on Wednesday. The euro weakened versus the dollar to $1.1479 from $1.1492.

Gold rose 0.7 percent to $1,319.70 an ounce. Silver added 0.9 percent to $16.07 an ounce. Copper gained 0.6 percent to $2.78 a pound.

In other energy futures trading, wholesale gasoline fell 1.4 percent to $1.36 a gallon. Heating oil slid 1 percent to $1.88 a gallon. Natural gas dropped 1.4 percent to $2.81 per 1,000 cubic feet.


----------



## bigdog

Stocks capped a bumpy day of trading Friday with modest gains, extending the market's winning streak to its third straight day.

Gains in technology companies, energy stocks and banks outweighed losses in retailers and elsewhere in the market.





https://www.usnews.com/news/busines...ocks-mixed-as-china-us-talks-end-with-no-deal

*US Stocks Eke Out Gains After Bumpy Day Caps Solid Week*
Stocks capped a bumpy day of trading Friday with modest gains, extending the market's winning streak to its third-straight day.
Feb. 1, 2019, at 4:41 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks capped a bumpy day of trading Friday with modest gains, extending the market's winning streak to its third straight day.

Gains in technology companies, energy stocks and banks outweighed losses in retailers and elsewhere in the market.

Major indexes were higher much of the morning as investors applauded a burst of hiring in January by U.S. employers. That enthusiasm was tempered, however, by a disappointing revenue outlook from Amazon.

The solid jobs report came a day after investors got encouraging news from the Federal Reserve, which confirmed that it will be "patient" in deciding when to raise interest rates.

Friday's bout of up-and-down trading came a day after the market closed out January with its biggest monthly gain since 2015.

That strong finish to the month, in addition to the latest jobs report, may have given some investors reason to take a breather Friday, resulting in the market barely squeaking out a gain.

"There's going to be a vacuum of positive catalysts next week, with the exception of a few individual earnings reports," said Randy Frederick, vice president of trading & derivatives at Charles Schwab. "With this type of a rally behind us, it just looks to me like we're running out of a little bit of steam here in the near term."

The S&P 500 index rose 2.43 points, or 0.1 percent, to 2,706.53. The Dow Jones Industrial Average gained 64.22 points, or 0.3 percent, to 25,063.89.

The Nasdaq composite dropped 17.87 points, or 0.2 percent, to 7,263.87. The Russell 2000 index of smaller companies picked up 2.64 points, or 0.2 percent, to 1,502.05.

Stocks got an early boost Friday as investors welcomed the latest monthly U.S. hiring snapshot.

U.S. employers added 304,000 jobs in January, far more than the 165,000 that economists were expecting. The government also revised its December figures sharply lower, to 222,000 from 312,000. Even with the revision, hiring has accelerated since last summer, a development that has surprised economists, because hiring typically slows when unemployment is so low.

Despite the strong jobs report in the U.S., investors are seeing signs of weakness elsewhere in the global economy. Inflation among the 19 countries that use the euro eased in January, a sign of weakness in a region already beset by many challenges. Italy is in a recession and Britain appears to be headed for a disorderly exit from the European Union.

In the U.S., consumer confidence fell in January for a third straight month. The housing market is slumping as mortgage rates steadily increase. Sales of existing homes plunged in December and fell 3.1 percent in 2018.

The protracted trade war between the U.S. and its trading partners continues to be a significant worry for investors. On Friday the European Union introduced new measures to prevent steel produced for the U.S. market from flooding into Europe.

Two days of trade talks between the U.S. and China wrapped up Thursday without a deal but with an upbeat outlook. The continued negotiations come as investors are worried about a slowdown in China and the damage the tariffs could cause to the U.S. economy by raising prices on consumer products.

Amazon's latest outlook disappointed investors and weighed on the broader retail sector Friday.

The e-commerce giant cashed in on a strong holiday shopping season, and the company's quarterly earnings topped $3 billion for the first time. Both profit and revenue beat Wall Street forecasts, but the results couldn't outweigh disappointment over the company's outlook.

Amazon expects sales between $56 billion and $60 billion, while Wall Street analysts expected $60 billion. The stock fell 5.4 percent to 1,626.23.

Other big retailers also traded lower. Kohl's slid 2.9 percent to $66.69 and Target dropped 2.5 percent to $71.17.

Exxon and Chevron both made gains after beating forecasts despite a highly volatile period for oil prices. The price of benchmark U.S. crude fell about 40 percent during the final quarter of 2018. That sharp drop followed a year of price gains. For Exxon, it was the most profitable year since 2014.

Exxon rose 3.6 percent to $75.92 and Chevron gained 3.2 percent to $118.37.

Benchmark U.S. crude rose 2.7 percent to $55.26 per barrel in New York. Brent crude, used to price international oils, rose 3.1 percent to $62.75 in London.

Bond prices fell. The yield on the 10-year Treasury rose to 2.69 percent from 2.63 percent late Thursday.

The dollar strengthened to 109.51 yen from 108.66 yen on Thursday. The euro weakened versus the dollar to $1.1461 from $1.1479.

Gold fell 0.2 percent to $1,316.90 an ounce. Silver lost 0.9 percent to $15.93 an ounce. Copper dropped 0.4 percent to $2.77 a pound.

In other energy futures trading, wholesale gasoline rose 4.3 percent to $1.44 a gallon. Heating oil gained 1.9 percent to $1.91 a gallon. Natural gas dropped 2.8 percent to $2.73 per 1,000 cubic feet.

2608


----------



## bigdog

Stocks recovered from an early wobble Monday, lifting the benchmark S&P 500 to its fourth straight gain.

Technology companies led the broad move higher, outweighing losses in health care, materials and utilities stocks.





https://www.usnews.com/news/busines...ixed-on-us-china-fears-at-start-of-quiet-week

*Technology Companies Lead Stocks Higher After an Early Slide*
Stocks recovered from an early wobble Monday, lifting the benchmark S&P 500 to its fourth straight gain.
Feb. 4, 2019, at 4:47 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks recovered from an early wobble Monday, lifting the benchmark S&P 500 to its fourth straight gain.

Technology companies led the broad move higher, outweighing losses in health care, materials and utilities stocks.

The market had gotten off to a weak start after the government reported that factory orders fell in November, but by midday major indexes had turned higher.

Investors remained focused on the latest batch of corporate earnings, including solid results from Clorox and Sysco. Google parent Alphabet posted results that topped Wall Street's estimates after the close of regular trading.

Concerns over slower economic growth overshadowed a mostly positive January for stocks, with solid company earnings helping to offset some of those fears.

"Earnings have surprised to the upside," said Quincy Krosby, chief market strategist at Prudential Financial. "That said, there is still a tug-of-war within the market as to whether or not the economy is in fact going to slow this quarter or beginning of next quarter."

The S&P 500 index rose 18.34 points, or 0.7 percent, to 2,724.87. The Dow Jones Industrial Average climbed 175.48 points, or 0.7 percent, to 25,239.37. The tech-heavy Nasdaq composite gained 83.67 points, or 1.2 percent, to 7,347.54.

The Russell 2000 index of smaller companies picked up 15.48 points, or 1 percent, to 1,517.54.

Stocks got off to a sluggish start as traders weighed a government report showing U.S. factory orders declined 0.6 percent in November. The drop, attributed mainly to lower demand for machinery and electrical equipment, surprised economists, who had forecast a slight increase.

The report is one of many that were delayed by a monthlong government shutdown. The long list of missing indicators makes it difficult to gauge the health of the economy and has prompted a cautious outlook from analysts.

Traders shrugged off the possible implications of the report by midday, however, as their attention turned back to company earnings.

Clorox Company climbed 5.7 percent to $158.38 after reporting earnings that came in ahead of analysts' forecasts. Sysco's latest quarterly snapshot also topped analysts' estimates, driving shares in the food distributor up 4.8 percent to $66.64.

Just under half of S&P 500 companies have reported results for the last three months of 2018. Of those, about 71 percent have turned in results that exceeded financial analysts' forecasts, according to S&P Global Market Intelligence.

In addition to positive earnings, the market has been riding a wave of positive momentum kicked off last week when the Federal Reserve signaled that it sees no need to raise interest rates anytime soon. Another batch of strong monthly U.S. jobs data also helped put investors in a buying mood.

"The Fed put the market on notice that they are becoming more patient, more flexible, more data-dependent, and that's certainly helped underpin the market's performance," Krosby said.

Even so, uncertainty remains over the U.S.-China trade dispute, and its potential impact on corporate profits. Washington and Beijing ended two days of talks last week in Washington without a deal, though both sides remained optimistic about future meetings. Investors hope a deal is reached before a tariff cease-fire ends on March 2.

Papa John's jumped 9 percent to $41.97 on news of a $200 investment from Starboard Value. Starboard CEO Steve Ritchie is also being named chairman of the troubled pizza chain.

Last week, the Louisville, Kentucky-based company's stock plunged on reports that Trian Fund Management was no longer interested in a deal. The company also had a weak fourth quarter.

Gannett, the publisher of USA Today and other newspapers, slid 2.2 percent to $10.97 after the company rejected a $1.36 billion buyout from MNG Enterprises, a hedge-fund backed media group with a history of taking over newspapers and slashing jobs.

Health care sector stocks lagged the broader market. Allergan slid 3.8 percent to $138.53, while Celgene lost 2.3 percent to $87.57.

U.S. crude fell 1.3 percent to settle at $54.56 per barrel in New York. Brent crude, used to price international oils, slipped 0.4 percent to close at $62.51 per barrel in London. The lower prices follow a round of supply cuts by OPEC in January and more U.S. sanctions against Venezuela.

Bond prices fell. The yield on the 10-year Treasury rose to 2.72 percent from 2.69 percent late Friday.

The dollar strengthened to 109.90 yen from 109.51 yen on Friday. The euro weakened versus the dollar to $1.1432 from $1.1461.

Gold fell 0.2 percent to $1,314.30 an ounce. Silver lost 0.3 percent to $15.89 an ounce. Copper gained 0.8 percent to $2.79 a pound.

In other energy futures trading, wholesale gasoline fell 0.3 percent to $1.43 a gallon. Heating oil slid 0.3 percent to $1.91 a gallon. Natural gas dropped 2.7 percent to $2.66 per 1,000 cubic feet.


----------



## bigdog

Technology companies helped lead stocks broadly higher on Wall Street Tuesday as strong earnings reports from several companies put investors in a buying mood.

The rally, which briefly wavered around midday, extended the benchmark S&P 500 index's winning streak to five days.






https://www.usnews.com/news/busines...-mixed-most-markets-closed-for-lunar-new-year

*S&P 500 Win Streak Marks 5th Day on Solid Company Earnings*
Technology companies helped lead stocks broadly higher on Wall Street Tuesday as strong earnings reports from several companies put investors in a buying mood.
Feb. 5, 2019, at 4:53 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Technology companies helped lead stocks broadly higher on Wall Street Tuesday as strong earnings reports from several companies put investors in a buying mood.

The rally, which briefly wavered around midday, extended the benchmark S&P 500 index's winning streak to five days.

Technology stocks, which have lagged the market in recent months, accounted for much of the rally. Financial sector companies were among the biggest laggards.

Investors welcomed the latest batch of solid earnings reports from a range of U.S. companies, including luxury retailers Ralph Lauren and Estee Lauder and media companies Viacom and Walt Disney.

Halfway through the fourth-quarter earnings reporting season for U.S. companies, the results have come in broadly ahead of analysts' forecasts. However that growth is expected to slow in the months ahead.

"Big companies reported some really good results today," said Lindsey Bell, an investment strategist at CFRA. "While the overall earnings season isn't all that impressive versus the past four quarters, it's still a pretty decent quarter."

The S&P 500 index rose 12.83 points, or 0.5 percent, to 2,737.70. The Dow Jones Industrial Average gained 172.15 points, or 0.7 percent, to 25,411.52. The tech-heavy Nasdaq composite added 54.55 points, or 0.7 percent, to 7,402.08. The Russell 2000 index of smaller companies picked up 2.69 points, or 0.2 percent, to 1,520.23.

Major indexes in Europe finished higher.

Technology stocks helped power the market's gains. Apple added 1.7 percent to $174.18, while Microsoft climbed 1.4 percent to $107.22.

Investors continued to focus on corporate earnings, seeking clues to how companies gauge their prospects for higher profits amid signs of weaker global growth and uncertainty over the U.S.-China trade dispute.

The market got encouraging news from upscale clothing company Ralph Lauren, whose most recent results topped Wall Street analysts' forecasts as it benefited from growth in Asia and Europe. More importantly, it raised its forecast despite some fears about an economic slowdown hitting Europe and Asia. The stock jumped 8.4 percent to $124.16.

Estee Lauder, which also reported better results and said it expects growth in Asia, vaulted 11.6 percent to $152.02.

Leggett & Platt was among the retailers whose shares surged Tuesday on strong earnings. The home furnishings company climbed 9.8 percent to $44.88.

Viacom, an entertainment company that owns Comedy Central and Paramount Pictures, rose 3 percent to $30.33 after reporting earnings that also beat analysts' estimates. Walt Disney's latest quarterly report card also blew past expectations. The media giant, which issued its results after the market close, rose 0.8 percent to $112.66 in regular trading.

Not all companies boasted solid results. Higher spending on marketing and pressure from tariffs knocked profits down 68 percent at Church & Dwight, a major maker of household products. The results fell short of Wall Street's forecasts, sending shares in the Arm & Hammer brand owner down 7.5 percent to $60.46.

More than 68 percent of companies reporting earnings in the S&P 500 beat analyst forecasts during the most recent quarter. Those results, in part, helped drive the market's best January in 32 years.

Analysts are warning that earnings growth could slow down substantially in the coming months. Companies have so far reported overall earnings growth of 16.2 percent in the latest quarter, according to data compiled by Factset. However, analysts surveyed by FactSet expect earnings to shrink 1.3 percent in the first quarter and then to grow just 1.3 percent and 2.6 percent in the second and third quarters, respectively.

U.S. crude oil fell 1.6 percent to settle at $53.66 per barrel in New York. Brent crude, used to price international oils, slid 0.8 percent to close at $61.98 per barrel in London.

Bond prices rose. The yield on the 10-year Treasury fell to 2.70 percent from 2.72 percent late Monday.

The dollar strengthened to 109.97 yen from 109.90 yen on Monday. The euro weakened versus the dollar to $1.1410 from $1.1432.

Gold was little changed at $1,319.20 an ounce. Silver lost 0.3 percent to $15.84 an ounce. Copper gained 0.8 percent to $2.82 a pound.

In other energy futures trading, wholesale gasoline fell 0.4 percent to $1.43 a gallon. Heating oil slid 0.5 percent to $1.90 a gallon. Natural gas rose 0.1 percent to $2.66 per 1,000 cubic feet.


----------



## bigdog

A mixed bag of corporate earnings nudged U.S. stocks slightly lower Wednesday, snapping the market's five-day winning streak.

Communications sector stocks, led by steep declines in video game companies, accounted for most of the market's slide. Take-Two Interactive and Electronic Arts plunged after reporting earnings that fell far short of what Wall Street analysts were expecting. The companies also issued weak forecasts, citing tougher competition.





https://www.usnews.com/news/busines...-higher-following-strong-gains-on-wall-street

*Video Game Companies Lead Modest Slide in US Stocks*
A mixed bag of corporate earnings nudged U.S. stocks slightly lower Wednesday, snapping the market's five-day winning streak.
Feb. 6, 2019, at 4:59 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

A mixed bag of corporate earnings nudged U.S. stocks slightly lower Wednesday, snapping the market's five-day winning streak.

Communications sector stocks, led by steep declines in video game companies, accounted for most of the market's slide. Take-Two Interactive and Electronic Arts plunged after reporting earnings that fell far short of what Wall Street analysts were expecting. The companies also issued weak forecasts, citing tougher competition.

Gains in technology stocks offset some of those losses, with Skyworks Solutions leading a rally in semiconductor companies.

"This is an earnings-driven market, and where you've seen both positive and negative price movement today it has largely been sector and industry specific," said Paul Springmeyer, head of investments at U.S. Bank Wealth Management. "On balance, sales and earnings are really trending mostly above expectations."

The Dow Jones Industrial Average fell 21.22 points, or 0.1 percent, to 25,390.30. The S&P 500 index dropped 6.09 points, or 0.2 percent, to 2,731.61. The benchmark index finished higher the previous five days in a row.

The Nasdaq composite slid 26.80 points, or 0.4 percent, to 7,375.28. The Russell 2000 index of smaller companies gave up 2.20 points, or 0.1 percent, to 1,518.02. Major European indexes also finished lower.

More than half of the companies in the S&P 500 have already reported results for the last three months of 2018, and most have turned in earnings that beat analysts' forecasts.

"What we are seeing is earnings are in fact slowing, but they still remain positive," Springmeyer said.

That's helped to allay some investors' fears over a slowdown in growth. Still, broader economic concerns continue to shadow the market, including uncertainty over the U.S.-China trade dispute, the impact tariffs are having on profits and consumers' wallets, and signs of a general slowdown in global growth.

The latest quarterly snapshots from video game companies failed to impress traders Wednesday.

Take-Two, maker of the "Grand Theft Auto" and "Red Dead Redemption" games series, gave investors a weak outlook for the current quarter. Electronic Arts, whose titles include "The Sims" and various sports games, including "Madden NFL," flagged disappointing results in sales of its latest "Battlefield" game.

Both companies are grappling with competition from Epic Games Inc.'s hit game "Fortnite."

Take-Two and Electronic Arts plunged 13.8 percent and 13.3 percent, respectively. Activision Blizzard, maker of the "Call of Duty" and "Candy Crush" games, fell 10.1 percent.

A broad slide in homebuilder shares also weighed on the market. Hovnanian Enterprises led the pack with a 6.6 percent decline.

Traders bid up shares in several companies that reported improved quarterly results.

The company behind the popular photo-messaging app SnapChat surged 22 percent as advertising gains drove revenue growth in the fourth quarter. The revenue increase helped cut the company's losses. It also maintained its user base.

The New York Times vaulted 10.3 percent in heavy trading after the newspaper publisher touted a big gain in digital subscribers and digital revenue for the October-December quarter. The Times added 265,000 digital subscriptions in the fourth quarter. Its earnings and revenue topped Wall Street's forecasts.

Capri Holdings, owner of the Michael Kors, Jimmy Choo and Versace clothing and footwear brands, climbed 11.3 percent after reporting quarterly earnings that were far larger than analysts were expecting.

Skyworks Solutions jumped 11.5 percent after the semiconductor company announced a $2 billion stock buyback plan. The news sent shares in several chipmakers higher. Microchip Technology climbed 7.3 percent, while Micron Technology gained 5.5 percent.


----------



## bigdog

U.S. indexes took their cue early Thursday from major European markets, which tumbled after the European Union's commission slashed its 2019 forecast for economic growth in the 19 countries that use the euro to 1.3 percent from an earlier forecast of 1.9 percent.






https://www.usnews.com/news/busines...-markets-rise-on-hopes-for-interest-rate-cuts

*US Stock Indexes Drop as Economic, Earnings Worries Rise*
*US Stock Indexes Drop as Economic, Earnings Worries Rise*
Renewed pessimism about the strength of the global economy and corporate profits this year led to sharp losses on Wall Street Thursday.
Feb. 7, 2019, at 4:49 p.m. 

By ALEX VEIGA, AP Business Writer

Renewed pessimism about the strength of the global economy and corporate profits this year led to sharp losses on Wall Street Thursday.

Technology companies, health care stocks and banks accounted for much of the selling. Twitter slumped almost 10 percent after issuing a weak forecast. Traders sought safety in U.S. government bonds, sending yields lower.

The broad sell-off followed a slide in overseas markets after European officials slashed their forecast for economic growth this year in the 19 countries that use the euro and the Bank of England warned that the British economy is set for its weakest growth in a decade.

The moves are the latest flashpoints of worry as investors gird for predicted slowdowns in economies around the world, including the United States, and weaker corporate earnings growth.

Stocks bounced back this year after a dismal December, riding a wave of positive momentum after the Federal Reserve signaled it would be take a more patient approach to raising interest rates. Corporate earnings, which have mostly come in ahead of lowered expectations, also helped lift the market this month, carrying the S&P 500 index to a five-day winning streak that ended Wednesday.

"We've come so far so fast that people were just looking for a chance to be able to say, 'Yeah, that's it, I'm going to take some money off the table," said Tom Martin, senior portfolio manager of Globalt Investments.

The S&P 500 fell 25.56 points, or 0.9 percent, to 2,706.05. The Dow Jones Industrial Average lost 220.77 points, or 0.9 percent, to 25,169.53. The Dow was briefly down 389 points.

The Nasdaq composite slid 86.93 points, or 1.2 percent, to 7,288.35. The Russell 2000 index of smaller companies gave up 12.40 points, or 0.8 percent, to 1,505.63.

U.S. indexes took their cue early Thursday from major European markets, which tumbled after the European Union's commission slashed its 2019 forecast for economic growth in the 19 countries that use the euro to 1.3 percent from an earlier forecast of 1.9 percent. A weaker-than-expected report on industrial production in Germany also raised concerns.

In London, the Bank of England cut its forecast for growth this year to 1.2 percent from an earlier forecast of 1.7 percent. That would be its slowest growth since 2009. The bank said it sees a one-in-four chance of slipping into a recession this year.

In the U.S., a report showed that the job market remains strong as fewer Americans applied for unemployment benefits last week, a sign that layoffs are low. But many economists expect the U.S. economy to slow this year as well, along with economies around the rest of the world.

The discouraging economic forecasts coupled with some companies lowering their 2019 earnings estimates stoked jitters across the market that earnings at U.S. companies will weaken in the first three months of this year.

Across the S&P 500, analysts are forecasting earnings per share to drop 1.8 percent in the first quarter from a year earlier. They were calling for growth just a few weeks ago, and if the updated forecasts prove true, it will be the first decline in nearly three years.

Any decline would also be a sharp drop-off from the 12.9 percent growth that S&P 500 companies are expected to report for the quarter of 2018.

"Is it going to be a one-quarter kind of fluke?" said Martin. "That's what's embedded in analysts' estimates. Or is it going to be a multi-quarter, maybe multi-year phenomenon like it was in 2015 and 2016?"

Twitter's latest quarterly results fed traders' concerns about slowing corporate profits.

The company gave a better-than-expected earnings report for its latest quarter, but its stock price tumbled 9.8 percent after it said revenue for this quarter may fall short of some analysts' estimates. Other social media companies also fell. Facebook dropped 2.4 percent.

Dunkin' Brands fell 3 percent after the doughnuts chain gave 2019 guidance that fell short of what analysts were expecting.

Shares in Tapestry tumbled 14.8 percent after the owner of Kate Spade, Coach and other luxury apparel brands reported quarterly earnings and revenue that missed Wall Street's estimates.

The resurgent jitters over the global economy sent investors toward Treasury bonds, which are seen as safer investments during tumultuous times. When a bond's price rises, its yield falls, and the yield on the 10-year Treasury note fell to 2.66 percent from 2.69 percent late Wednesday.

The drop in the 10-year Treasury yield, which affects rates on mortgages and other consumer loans, weighed on bank shares. Wells Fargo fell 2.3 percent.

Benchmark U.S. crude oil dropped 2.5 percent to settle at $52.64 a barrel. Natural gas slid 4.2 percent. That helped drag energy stocks in the S&P 500 down by 2.1 percent, the worst decline among the 11 sectors that make up the index. Newfield Exploration led the sector slide, dropping 6.7 percent.

Stocks around the world have also heaved up and down recently on concerns about U.S.-China trade tensions. U.S. Treasury Secretary Stephen Mnuchin and trade representative Robert Lighthizer will lead a delegation to Beijing next week for the next round of trade talks, but the issues are complex. These include contentious topics like Beijing's technology policy and trade practices, where progress has been limited so far.

Mnuchin also said that there were no plans for President Donald Trump to meet Chinese leader Xi Jinping. "If there are remaining issues that we can't get closed, I think President Trump expects that he's going to sit down with President Xi and address those issues," he said.


Feb. 7, 2019, at 4:49 p.m.


----------



## bigdog

*Reported just after start today:*
"The S&P 500 headed for its worst week since December, with global-growth concern mounting after Australia’s central bank joined European and British officials in tamping down forecasts at the same time the prospects for an extension of the U.S.’s trade detente with China continued to fade."

U.S. stock indexes stemmed an early slide Friday, finishing mostly higher and nudging the benchmark S&P 500 index to its second weekly gain in a row.

Prior to a late-afternoon flurry of buying, the market had been on pace to finish lower as investors hit pause following a tumultuous two months where the index followed up its worst December since 1931 with its best January in three decades.






https://www.usnews.com/news/busines...fall-after-trump-says-no-plans-for-xi-meeting

*Late Burst of Buying on Wall Street Leaves Indexes Mixed*
U.S. stock indexes stemmed an early slide Friday, finishing mostly higher and nudging the benchmark S&P 500 index to its second weekly gain in a row.
Feb. 8, 2019, at 4:56 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

U.S. stock indexes stemmed an early slide Friday, finishing mostly higher and nudging the benchmark S&P 500 index to its second weekly gain in a row.

Gains in technology and consumer goods companies outweighed losses in financial stocks and retailers as investors continued to size up the latest batch of quarterly corporate snapshots.

Prior to a late-afternoon flurry of buying, the market had been on pace to finish lower as investors hit pause following a tumultuous two months where the index followed up its worst December since 1931 with its best January in three decades.

"Earnings are coming in good -- we're seeing over 15 percent growth -- but there are some concerns about the next quarter that growth is going to be pretty close to zero," said Karyn Cavanaugh, senior markets strategist at Voya Investment Management.

The S&P 500 rose 1.83 points, or 0.1 percent, to 2,707.88. The Dow Jones Industrial Average lost 63.20 points, or 0.3 percent, to 25,106.33.

The Nasdaq composite added 9.85 points, or 0.1 percent, to 7,298.20. The Russell 2000 index of smaller companies picked up 0.77 points, or 0.1 percent, to 1,506.39. Major stock indexes in Europe finished lower.

Traders have been worried about predicted slowdowns in economies around the world, with trade tensions between the United States and China adding to the strain. Warnings about slower growth from Europe and the United Kingdom earlier this week hit hard, helping to derail a five-day winning streak for the S&P 500.

It hasn't been all bad news, however. Companies have been reporting better-than-expected earnings for the last three months of 2018, and the Federal Reserve has indicated it will take a more patient approach to raising interest rates. Still, concerns are building about whether profits can keep growing this year, especially after companies' strong gains in 2018 following a sweeping corporate tax cut.

"The markets are looking forward to an earning season that might be a little bit challenging for the first quarter, because they're going to be having to jump over a higher bar," Cavanaugh said.

Across the S&P 500, analysts are forecasting earnings per share to drop 1.8 percent in the first quarter from a year earlier. They were calling for growth just a few weeks ago, and if the updated forecasts prove true, it will be the first decline in nearly three years. Looking beyond the first quarter, earnings growth by S&P 500 companies is expected to grow 5 percent for all of 2019.

Technology stocks drove much of the market's late-day recovery Friday, with Motorola Solutions leading the pack. The stock vaulted 14.1 percent.

Financial stocks took some of the heaviest losses and were hurt by a drop in interest rates, which can limit the profits they make from lending money. Morgan Stanley slid 1.6 percent.

Treasury yields fell as investors continued to seek out safer areas of the market given all the economic and profit concerns. Treasury yields fall when prices for the bonds rise.

The yield on the 10-year Treasury note dropped to 2.63 percent from 2.65 percent late Thursday. It had been above 3 percent as recently as December.

Traders continued to weigh a mixed batch of company earnings reports Friday.

Mattel surged to one of the biggest gains in the S&P 500 after reporting a bigger-than-expected profit for its latest quarter. Its stock leaped 23.2 percent.

Rival Hasbro, though, fell after its own earnings report fell short of Wall Street's expectations. Its stock dropped 1 percent.

Chipmaker Qorvo declined 3 percent despite reporting stronger earnings for its latest quarter than Wall Street expected. Investors focused instead on its revenue forecast for the current quarter, which was below analysts' expectations. The company said cited weakness across the smartphone market.

Goodyear Tire & Rubber plunged 9.1 percent, posting the biggest loss in the S&P 500 index, after reporting weaker-than-expected profit for the latest quarter. The company cited some weakness in China, which has been a big source of concern for investors recently.

The world's second-largest economy is in the midst of a sharp economic slowdown, and it's a huge market for many big U.S. companies.

Amazon.com dropped 1.6 percent after its CEO, Jeff Bezos, said he was the target of blackmail by the publisher of the National Enquirer, which he said threatened to publish revealing personal photos of him. Bezos, who is also the owner of the Washington Post, has been locked in an increasingly tense standoff with President Donald Trump, and the Enquirer has been a strong backer of Trump in the past. The Enquirer's publisher said Friday that it acted lawfully while reporting the story and will look into the claims.

Amazon is one of the biggest stocks in the S&P 500, so its movements have a larger effect on index funds than other stocks.

Markets around the world have been lurching up and down in recent months as investors worry about fallout from the U.S.-China trade dispute. President Donald Trump said Thursday that he doesn't plan to meet Chinese leader Xi Jinping before their cease-fire on tariffs expires in early March.

Unless American and Chinese negotiators come to a new agreement, the U.S. is expected to raise import taxes from 10 percent to 25 percent for $200 billion in Chinese goods. The trade dispute between the world's two largest economies, which has cooled in recent months, has weighed on the outlook of businesses and the global economy.

Trump's announcement weighed on markets around the world, and indexes in Europe and Asia mostly fell.

3071


----------



## bigdog

Wall Street capped a day of mostly listless trading with a mixed finish Monday as gains in industrial companies, banks and energy stocks outweighed losses elsewhere.






https://www.usnews.com/news/busines...se-ahead-of-new-round-of-us-china-trade-talks

*US Stock Indexes End Mixed Ahead of US-China Trade Talks*
Wall Street capped a day of mostly listless trading with a mixed finish Monday as gains in industrial companies, banks and energy stocks outweighed losses elsewhere.
Feb. 11, 2019, at 4:51 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street capped a day of mostly listless trading with a mixed finish Monday as gains in industrial companies, banks and energy stocks outweighed losses elsewhere.

Small-company stocks fared better than the rest of the market as investors shifted focus away from the tail end of a relatively strong corporate earnings season and looked ahead to key trade talks between the U.S. and China later this week.

U.S. Treasury Secretary Stephen Mnuchin is leading a delegation set to meet with Chinese officials on Thursday and Friday. The talks are aimed at resolving a trade war that threatens to stunt global economic growth, in part by raising prices on goods for consumers and companies. The situation could get worse when a truce on tariffs expires in early March.

"The problem is, if this trade issue goes on long enough, it will metastasize itself to our economy, "said Sam Stovall, chief investment strategist at CFRA.

The Dow Jones Industrial Average fell 53.22 points, or 0.2 percent, to 25,053.11. The S&P 500 index rose 1.92 points, or 0.1 percent, to 2,709.80. The Nasdaq composite added 9.71 points, or 0.1 percent, to 7,307.90. The Russell 2000 index of smaller-company stocks gained 12.59 points, or 0.8 percent, to 1,518.98. European markets finished higher.

U.S. indexes spent much of the day wavering between small gains and losses on a light day of company earnings news.

Companies have mostly reported better-than-expected earnings for the last three months of last year. Still, concerns have been building about whether profits can keep growing this year, especially after companies' strong gains in 2018 following a sweeping corporate tax cut.

So far, 66.4 percent of companies in the S&P 500 have reported earnings, with 69 percent beating analysts' forecasts. Earnings growth comes in at 14.5 percent for the quarter. But some companies have tempered their outlooks and analysts currently expect a 2 percent contraction in the first quarter.

Signs that the global economy is slowing have also added to the market's worries about earnings in 2019.

Economists' fears of a global slowdown were given additional fuel from a report Monday showing Britain's economy had its slowest economic growth since the aftermath of the global financial crisis. Both Europe overall and China are contending with slower growth.

Traders also were keeping an eye on the negotiations in Washington aimed at averting another federal government shutdown.

Democrats and the GOP remained separated Monday over how much to spend on President Donald Trump's promised border wall. A Friday midnight deadline is looming to prevent a second partial government shutdown.

Even if the government shuts down again, it's not likely to have a major impact on the stock market, Stovall said.

"While shutdown is certainly a possibility, it's more of an annoyance," he said, noting that the market gained more than 10 percent during the last shutdown.

A surge in sales at Tim Hortons helped lift quarterly earnings for parent company Restaurant Brands. The company, which also operates Burger King, posted quarterly profit that topped Wall Street's forecasts. The stock added 2.1 percent.

Tesla got a boost from Canaccord analysts, who upgraded the stock from "Hold" to "Buy." The analysts noted that results for the last two quarters and the electric car maker's outlook have removed "significant concerns" about the production and profitability of the Model 3, the company's car designed for the mass market.

Meanwhile, LMC Automotive estimated that the Model 3 was the top-selling luxury car in the U.S. last year, outselling the Lexus ES by more than two to one. Shares in Tesla gained 2.3 percent.

Traders also bid up shares in Chipotle Mexican Grill. The restaurant chain hired documentary filmmaker Errol Morris to create ads showcasing its kitchens, prep routines and partners. Morris is the director of the Oscar-winning documentary "Fog of War."

The Mexican-food chain is still rehabilitating its image years after a series of food-borne illnesses scared away customers and drove sales lower. Chipotle shares rose 3.5 percent.

Loews' latest quarterly results put investors in a selling mood.

The commercial insurer tumbled 6.1 percent after it booked a fourth-quarter loss due to higher catastrophe losses.

Activision Blizzard shares sank 7.6 percent following a Bloomberg report saying the video game company plans to announce layoffs on Tuesday, when it's scheduled to report quarterly results. The report, which Bloomberg posted late Friday, cited unnamed people familiar with the matter.

Shares in rivals Take-Two Interactive and Electronic Arts took a beating last week after the companies gave investors a weak outlook for the current quarter.

On Monday, Take-Two slid 3.8 percent. Electronic Arts, which recovered Friday on strong sales of a new game, declined 0.4 percent.

U.S. benchmark crude fell 0.6 percent to settle at $52.41 per barrel in New York. Brent crude, the standard for international oil prices, dropped 1 percent to close at $61.51 per barrel in London.

Bond prices fell. The yield on the 10-year Treasury rose to 2.65 percent from 2.63 percent late Friday.

The dollar rose to 110.40 yen from 109.77 yen on Friday. The euro weakened to $1.1276 from $1.1324.

Gold fell 0.5 percent to $1,311.90 an ounce. Silver lost 0.8 percent to $15.69 an ounce. Copper dropped 0.7 percent to $2.79 a pound.

In other energy futures trading, wholesale gasoline slid 1.9 percent to $1.42 a gallon. Heating oil declined 0.8 percent to $1.89 a gallon. Natural gas rose 2.3 percent to $2.64 per 1,000 cubic feet.


----------



## bigdog

U.S. stocks finished broadly higher Tuesday as investors grew more optimistic about the prospects for a resolution to the costly trade dispute between the U.S. and China.

Almost sea of green!!









https://www.usnews.com/news/busines...an-stocks-rise-after-listless-wall-street-day

*US Stocks Surge on US-China Trade Deal Optimism*
U.S. stocks finished broadly higher Tuesday as investors grew more optimistic about the prospects for a resolution to the costly trade dispute between the U.S. and China.
Feb. 12, 2019, at 4:50 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

U.S. stocks finished broadly higher Tuesday as investors grew more optimistic about the prospects for a resolution to the costly trade dispute between the U.S. and China.

Technology, financial and health care stocks powered much of the rally, which gave the benchmark S&P 500 index its biggest gain this month and a three-day winning streak. The wave of buying also drove a 372-point gain for the Dow Jones Industrial Average, ending the average's four-day run of losses.

President Donald Trump said Tuesday that he might let a March 2 deadline slide in trade talks with China if the two countries get close to a deal. Trump also said he's not inclined to extend the deadline, but might let it "slide for a little while" if talks go well. Earlier, the White House had called March 2 a "hard deadline."

Both nations are trying to reach a deal before March 1. That's when additional tariffs will kick in, escalating the conflict and further hurting companies and consumers with higher prices on materials and products.

"Any deal would help alleviate some of the uncertainty," said Karyn Cavanaugh, senior markets strategist at Voya Investment Management. "The GDP hasn't been dinged that much from the trade tariffs, it's really been the uncertainty. It's spilling over into business plans and that's a hurdle for growth."

The S&P 500 index gained 34.93 points, or 1.3 percent, to 2,744.73. The Dow climbed 372.65 points, or 1.5 percent, to 25,425.76. The index was briefly up by 405 points.

The Nasdaq composite rose 106.71 points, or 1.5 percent, to 7,414.62. The Russell 2000 index of smaller-company stocks, which has been leading the other indexes this year, added 19.25 points, or 1.3 percent, to 1,538.23.

European markets finished higher.

Stocks got an early boost Tuesday after lawmakers in Washington reached a tentative deal to avoid another partial government shutdown. The agreement on border security involves far less money for a wall than the White House wanted, and it's not clear whether President Donald Trump will support the deal.

Still, the move alleviated some uncertainty for the market as the U.S. and China continue trade negotiations, which resumed Monday.

Fears of a global slowdown still linger. Europe and China have both reported slower growth. Those concerns have dimmed the outlook for corporate earnings growth this year.

The latest company earnings season has featured solid profit growth for the final three months of 2018, but caution about conditions going forward. Analysts predict profits will fall in the current quarter, according to FactSet.

"Overall earnings are good, but we're looking for a bit of a slowdown in the first quarter because we have a high bar to hurdle over," Cavanaugh said.

Investors continued to size up the latest batch of corporate earnings Tuesday.

Under Armour climbed 6.9 percent after the maker of sportswear beat Wall Street forecasts. A surge in international sales offset a downturn in Under Armour's U.S. sales.

Molson Coors plunged 9.4 percent as lower sales volume sunk revenue and profit during the fourth quarter. The brewer will also restate some past results. The maker of Molson and Coors beer said tax accounting errors in 2016 and 2017 prompted the restatements.

Traders bid up shares in Coty Inc., maker of CoverGirl, Max Factor and other cosmetic brands, after German conglomerate JAB Holdings offered to take a majority stake in the company. Coty's shares jumped 12.5 percent.

Technology stocks helped power the market's gains Tuesday. Micron Technology climbed 4.7 percent. Financial companies also notched big gains. Brighthouse Financial surged 13.9 percent.

U.S. benchmark crude rose 1.3 percent to settle at $53.10 per barrel in New York. Brent crude, the standard for international oil prices, gained 1.5 percent to close at $62.42 per barrel in London.

Bond prices fell. The yield on the 10-year Treasury rose to 2.68 percent from 2.66 percent late Monday.

The dollar rose to 110.52 yen from 110.40 yen on Monday. The euro strengthened to $1.1331 from $1.1276.

Gold added 0.2 percent to $1,314 an ounce. Silver was little changed at $15.69 an ounce. Copper dropped 0.6 percent to $2.77 a pound.

In other energy futures trading, wholesale gasoline added 0.6 percent to $1.43 a gallon. Heating oil climbed 0.9 percent to $1.90 a gallon. Natural gas gained 1.7 percent to $2.69 per 1,000 cubic feet.


----------



## bigdog

Stocks ended broadly higher Wednesday as investors remained optimistic that the U.S. and China will make more progress in resolving their trade dispute











https://www.usnews.com/news/busines...ostly-higher-on-hopes-for-us-china-trade-deal

*Optimism Over US-China Trade Talks Boosts Stocks Again*
Stocks ended broadly higher Wednesday as investors remained optimistic that the U.S. and China will make more progress in resolving their trade dispute.
Feb. 13, 2019, at 4:58 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks finished broadly higher Wednesday as investors remained optimistic that the U.S. and China will make more progress in resolving their costly trade dispute.

Energy companies, retailers and industrial stocks accounted for much of the broad gains as the market extended its winning streak to a fourth day.

Key officials from the world's two largest economies will meet Thursday and Friday to try and stave off an escalation of a trade conflict that has hurt companies and consumers by raising prices on a number of products. President Donald Trump has said he might let a March 2 deadline slide if the U.S. and China get close to a deal.

After March 2, additional tariffs are scheduled to kick in, making the situation worse. Economists and analysts are optimistic that both sides will eventually hammer out an agreement that satisfies U.S. complaints that China steals or pressures U.S. companies to hand over technology.

"The president's seemingly positive tone regarding trade has helped underpin the market, particularly the industrial names," said Quincy Krosby, chief market strategist at Prudential Financial. "That's a positive catalyst for the market."

The S&P 500 index gained 8.30 points, or 0.3 percent, to 2,753.03. The Dow Jones Industrial Average climbed 117.51 points, or 0.5 percent, to 25,543.27. The Nasdaq composite added 5.76 points, or 0.1 percent, to 7,420.38. The Russell 2000 index of smaller-company stocks, which has been leading the other indexes this year, added 4.71 points, or 0.3 percent, to 1,542.94.

Major indexes in Europe also finished broadly higher, despite a report of slumping industrial output across the 19 countries that use the euro.

Companies on both sides of the U.S.-China dispute have been battered by Washington's tariffs and retaliatory duties imposed by Beijing. The stakes are rising as global economic growth cools, which has contributed to a dimmer outlook for company earnings this year.

Still, the White House's remarks about the trade talks this week have helped alleviate some uncertainty for the market.

"The momentum that we saw yesterday has certainly carried through today," said Erik Davidson, chief investment officer at Wells Fargo Private Bank.

The market briefly lost some of that momentum around midmorning Wednesday as U.S. Sen. Marco Rubio announced over Twitter plans to introduce a bill aimed at deterring companies from buying back their own stock. The Republican from Florida said the argument that stock buybacks free up money for companies to reinvest in growth "isn't backed up by the facts."

Rubio's remarks come as corporate stock buybacks hit new highs last year, led by technology companies.

Buybacks, in which companies purchase their own shares and retire them, are popular with investors because fewer shares outstanding lifts earnings per share, the most watched barometer of corporate success.

The sweeping tax law passed by the GOP-led Congress in late 2017 gave companies an incentive to boost their stock prices.

Rubio's bill would tax corporate share buybacks to the same degree as dividends, with the goal of giving "permanent preference to investments that will drive the creation of jobs and increase wages," Rubio tweeted.

The prospect of such a bill appeared to ruffle the markets briefly, Krosby said.

"The fact is you have the senate controlled by the Republicans, so it's hard to imagine you're going to see a vote," she said. "Maybe that's why the market is still up."

With U.S. companies nearing the end of a relatively strong earnings season, investors continued to evaluate the latest batch of quarterly results Wednesday.

Video game maker Activision Blizzard jumped 7 percent as it moved to lay off nearly 800 workers, in part to deal with a steep downturn in revenue following the best year in its history.

The maker of "Call of Duty" and "Candy Crush," reported fourth-quarter 2018 revenue that fell short of analysts' forecasts and said it expects revenue to decline about 20 percent this year. Activision is facing tougher competition, specifically from Epic Games' "Fortnite", which is siphoning away sales.

Higher room rates pushed hotel operator Hilton Worldwide to a strong fourth-quarter profit, beating analysts' forecasts. The company also gave Wall Street a strong profit forecast for the current quarter. Hilton's stock rose 6.8 percent and competitor Marriott International added 3.6 percent.

Groupon slumped 11.1 percent after the online daily deal service came up short of analysts' profit forecasts for the quarter. Customer traffic in its key North America market fell, dragging down revenue.

TripAdvisor slid 5.7 percent after the travel website operator reported weaker-than-expected fourth-quarter profit and lower revenue from its key hotel bookings segment.

U.S. benchmark crude rose 1.5 percent to settle at $53.90 a barrel in New York. Brent crude, the standard for international oil prices, gained 1.9 percent to close at $63.61 a barrel in London.

The pickup in oil prices gave a boost to energy stocks. Exxon Mobil rose 1.1 percent.

Bond prices fell. The yield on the 10-year Treasury rose to 2.70 percent from 2.68 percent late Tuesday.

The dollar rose to 110.99 yen from 110.52 yen on Tuesday. The euro weakened to $1.1271 from $1.1331.

Gold added 0.1 percent to $1,315.10 an ounce. Silver slipped 0.2 percent to $15.65 an ounce. Copper was little changed at $2.77 a pound.

In other energy futures trading, wholesale gasoline added 2.7 percent to $1.47 a gallon. Heating oil climbed 1.7 percent to $1.94 a gallon. Natural gas dropped 4.2 percent to $2.58 per 1,000 cubic feet.


----------



## bigdog

https://www.usnews.com/news/busines...es-waver-as-china-us-begin-trade-negotiations

*Mixed Finish for US Stock Indexes Over Weak Retail Sales*
U.S. stock indexes clawed most of the way back from an early slide Thursday to finish mostly lower, ending a four-day winning streak for the benchmark S&P 500 index.
Feb. 14, 2019, at 4:53 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

U.S. stock indexes clawed most of the way back from an early slide Thursday to finish mostly lower, ending a four-day winning streak for the benchmark S&P 500 index.

Losses in banks and retailers and consumer products makers offset gains in health care stocks, technology companies and elsewhere in the market as investors weighed new data showing retail sales slumped in December amid a disappointing holiday shopping season.

The Commerce Department reported that December retail sales posted their biggest drop since September 2009. Separately, the National Retail Federation issued figures showing U.S. holiday season sales were weaker than expected.

While the discouraging retail sales data initially put investors in a selling mood, the sell-off reversed course as traders had some time to reconsider how useful the two-month old data would be in forecasting consumer spending trends in coming months.

"This was a really big shock because it was a 9-year low, in terms of its move, but the market doesn't care what happened two months ago," said Randy Frederick, vice president of trading & derivatives at Charles Schwab. "The market really wants to know what's going on today, and really more importantly what to look for the next month."

The Dow Jones Industrial Average fell 103.88 points, or 0.4 percent, to 25,439.39. Earlier, the average had been down 235 points.

The S&P 500 index dropped 7.30 points, or 0.3 percent, to 2,745.73. The Nasdaq composite edged up 6.58 points, or 0.1 percent, to 7,426.95. Small-company stocks rose. The Russell 2000 index added 2.16 points, or 0.1 percent, to 1,545.11.

Slightly more stocks rose than fell on the New York Stock Exchange. Major European indexes finished mostly lower.

Investors retreated into government bonds following the weak report on U.S. retail sales, sending benchmark yields lower. The yield on the 10-year Treasury note fell to 2.65 percent from 2.70 percent late Wednesday. That yield is used to set rates on mortgages and other kinds of loans.

The Commerce Department said retail sales fell 1.2 percent in December from the previous month. Total retail sales for 2018 rose 5 percent from the previous year. Separately, the National Retail Federation, the nation's largest retail trade group, said that holiday sales increased a lower-than-expected 2.9 percent as worries about the trade war with China, the government shutdown and stock market turmoil dampened shopper spending in December.

Advertising
Retailers had foreshadowed the results in the new reports earlier this month when they disclosed weak holiday season sales.

The sales data pulled shares in Macy's and other retailers lower. But those losses were tempered by midafternoon as some economists and analysts questioned whether the government shutdown and resulting delay in collecting the retail sales data had made the results an unreliable barometer of consumer spending in coming months.

Macy's fell 0.4 percent, while Amazon slid 1.1 percent. J.C. Penney bounced back to finish with a 0.7 percent gain.

Makers of consumer products also took a beating after Coca-Cola said its sales could slow this year because of the strong dollar. Coca-Cola slumped 8.4 percent.

Markets had been moving higher this week as investors became optimistic that new talks could move the U.S. and China closer to a resolution of their trade fight.

The negotiations began Monday, but key figures were set to meet Thursday and Friday in an attempt to avoid an escalation of tariffs that have raised prices for companies and consumers.

The nations are trying to hash out a deal before March 2, when the U.S. has said it would go ahead with penalties on an additional $200 billion of Chinese goods. President Donald Trump has reportedly said he's willing to let that deadline slide if talks go well.

The holiday sales data and ongoing trade woes come at a time that worries about other global economies are deepening. China's economy grew at its slowest pace in three decades last year and Europe is contending with a slowdown in growth. Germany, the biggest economy in Europe, recorded no growth in the fourth quarter, just barely avoiding a recession.

Several companies slumped on disappointing quarterly earnings or outlooks Thursday.

Fossil Group dropped 3.3 percent after reporting a global sales decline. The watchmaker cited economic weakness in several regions, along with reduced discounting and price-matching as key reasons for the weak quarter.

A surge in losses from wildfires and hurricanes helped push American International Group to a fourth-quarter loss. The insurer also reported lower investment income in the quarter. The stock lost 9 percent.

Casino operators broadly fell on concerns that the growth of online gambling could be stunted by a recent U.S. Department of Justice opinion. MGM Resorts CEO Jim Murren, on a call with investors, decried the DOJ's opinion for a broader restriction on interstate gambling. The industry is looking to online gambling and sports betting as key drivers of growth.

MGM fell 6.4 percent, Wynn Resorts dropped 2.7 percent and Las Vegas Sands slid 1.7 percent.

Cisco Systems had a better day. The maker of networking equipment gained 1.9 percent after it announced a big stock buyback and reported solid demand in its latest quarter.

U.S. benchmark crude rose 0.9 percent to settle at $54.41 a barrel in New York. Brent crude, the standard for international oil prices, gained 1.5 percent to close at $64.57 a barrel in London.

The dollar weakened to 110.49 yen from 110.99 yen on Wednesday. The euro strengthened to $1.1301 from $1.1271.

Gold slipped 0.1 percent to $1,313.90 an ounce. Silver dropped 0.8 percent to $15.53 an ounce. Copper was little changed at $2.77 a pound.

In other energy futures trading, wholesale gasoline climbed 3 percent to $1.51 a gallon. Heating oil rose 1.7 percent to $1.97 a gallon. Natural gas dropped 0.1 percent to $2.57 per 1,000 cubic feet.


----------



## bigdog

The Dow Jones Industrial Average surged more than 400 points Friday as renewed optimism over trade talks between the U.S. and China put investors in a buying mood










https://www.usnews.com/news/busines...ip-on-wall-street-leads-as-trade-talks-simmer

*Stocks Post Strong Finish as Optimism Over Trade Talks Grows*
The Dow Jones Industrial Average surged more than 400 points Friday as renewed optimism over trade talks between the U.S. and China put investors in a buying mood.
Feb. 15, 2019, at 4:48 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

The Dow Jones Industrial Average surged more than 400 points Friday as renewed optimism over trade talks between the U.S. and China put investors in a buying mood.

The rally marked a turnaround from a day earlier, when disappointing holiday sales data led to a modest sell-off. Friday's gains helped push the benchmark S&P 500 index to its third-consecutive weekly gain.

Financial, health care, technology and industrial stocks accounted for much of the broad wave of buying. U.S. markets will be closed Monday in observance of Presidents Day.

Two days of trade talks wrapped up Friday in Beijing. China's government said negotiators will meet in Washington next week for more negotiations aimed at ending the trade war between the world's largest economies.

A March 2 deadline hangs over both sides, after which the U.S. is set to impose additional tariffs on Chinese goods, escalating a trade dispute that has already raised costs for companies and consumers. President Donald Trump has said that there is a possibility he would extend that deadline if the two countries are close to a deal, however.

Wall Street has been encouraged by the signals that Chinese and U.S. officials have sent in the latest round of trade talks that began Monday.

That's given investors "hopefulness and maybe optimism surrounding some sort of resolution between the U.S. and China," said Willie Delwiche, investment strategist at Baird. "And maybe (both sides) keep talking and maybe delaying the implementation of the tariffs that are supposed to come into effect" on March 2, Delwiche said, "so, it's evidence of progress."

The S&P 500 index gained 29.87 points, or 1.1 percent, to 2,775.60. The Dow climbed 443.86 points, or 1.7 percent, to 25,883.25.

The Nasdaq composite rose 45.46 points, or 0.6 percent, to 7,472.41. The Russell 2000 index of smaller companies picked up 24.14 points, or 1.6 percent, to 1,569.25. Major European indexes also finished higher, as did gold and crude oil prices.

Markets moved higher for most of this week as investors grew more optimistic that the latest round of talks could move the U.S. and China closer to a resolution of their trade fight.

On Friday, U.S. Trade Representative Robert Lighthizer told Chinese President Xi Jinping negotiators "made headway" in talks this week in Beijing.

Economists said this week's two days of talks were too brief to resolve the sprawling dispute that extends to cyber-spying and China's trade surplus. They said Beijing is trying to persuade Trump enough progress is being made to postpone the penalties.

The Trump administration raised tariffs in July over complaints Beijing steals or pressures companies to hand over technology. The White House imposed 25 percent penalties on $50 billion of goods from China and 10 percent on $200 billion of other products. China retaliated by raising duties on American soybeans and other imports and ordering its companies to find other suppliers.

While the trade conflict remains a focus of the market, a resolution may not be enough to ease a growing sense among investors that the global economy is slowing, setting the stage for weaker corporate earnings growth this year, Delwiche said.

"I'm not one to think that getting this trade deal done is going to all of a sudden clear up a bunch of uncertainty around the economy, particularly the global economy," he said. "We need to see some evidence that the global economy is stabilizing. That's really where you're getting the downward pressure on earnings expectations."

So far, S&P 500 companies have reported 13.1 percent earnings growth for the October-December quarter, better than the 12.1 percent gain projected by analysts. But the outlook for earnings growth in the first three months of 2019 has dimmed. Analysts forecast that corporate profits will fall in the current quarter, according to FactSet. That would represent the first decline in nearly three years.

Corporate earnings continued rolling out Friday as the fourth-quarter reporting period nears an end.

Chipmaker Nvidia rose 1.8 percent after reporting a strong fourth-quarter profit. Despite a downturn in revenue, the company expects demand to increase this year. Its forecast for the year topped Wall Street's forecasts.

Nvidia has been hurt by a plunge in demand from the cryptocurrency sector and lower video game console sales.

Snack and beverage giant PepsiCo gained 2.9 percent despite reporting relatively soft fourth-quarter results. Much like rival Coca-Cola on Thursday, the company gave investors a weak forecast for the year as it faces a stronger dollar. Unlike its rival, PepsiCo announced $8 billion in stock buy backs and a round of cost cuts.

Agricultural equipment maker Deere slid 2.1 percent after warning that farmers are buying less new equipment because of the ongoing trade war between the U.S. and China. The company gave investors a mixed fourth-quarter report, with profit falling short and revenue beating forecasts.

Newell Brands plunged 20.9 percent. The loss of retailer Toys R US hurt the company's core sales. Newell makes a range of baby products that were carried by the now defunct Babies R US.

Mattel tumbled 18.3 percent after the toy maker issued a weaker-than-expected 2019 revenue outlook. The maker of Barbies and Hot Wheels named a new CEO last April and has launched a plan to restructure the company. Last week, Mattel reported that it swung to a profit in the last three months of 2018, but revenue was down 5 percent.

U.S. benchmark crude climbed 2.2 percent to settle at $55.59 a barrel in New York. Brent crude, the standard for international oil prices, gained 2.6 percent to close at $66.25 a barrel in London.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.67 percent from 2.65 percent late Thursday. That yield is used to set rates on mortgages and other kinds of loans.

The dollar fell to 110.45 yen from 110.49 yen on Thursday. The euro weakened to $1.1295 from $1.1301.

Gold rose 0.6 percent to $1,322.10 an ounce. Silver gained 1.4 percent to $15.74 an ounce. Copper added 0.9 percent to $2.80 a pound.

In other energy futures trading, wholesale gasoline climbed 4.3 percent to $1.57 a gallon. Heating oil rose 2.5 percent to $2.02 a gallon. Natural gas gained 2 percent to $2.63 per 1,000 cubic feet.

3531


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## bigdog




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## bigdog

*US markets closed for President's Day, Asian markets climb*
-
https://finance.yahoo.com/news/us-markets-closed-president-apos-142020251.html

Futures will trade electronically. Dow Jones futures were rising by 0.1 percent. The S&P 500 was little changed and the Nasdaq Composite was up less than 0.1 percent.

While U.S. markets are closed, there is trading in other parts of the financial world.

In Europe, London’s FTSE slipped 0.1 percent, Germany’s DAX was off 0.2 percent and France’s CAC added 0.1 percent.

In Asian market trading on Monday, stocks surged in China on trade talk optimism between the U.S. and China. The Shanghai Composite jumped 3.2 percent. In Hong Kong, the Hang Seng added 1.6 percent and Japan’s Nikkei gained 1.8 percent to a two-month high.

U.S. stocks rallied Friday, with the blue-chip Dow Jones Industrial Average surging more than 400 points for its eighth straight week of gains, as investors took heart from a report that American and Chinese trade officials are close to signing a memorandum of understanding to settle their trade dispute.

In addition, the tech-heavy Nasdaq Composite climbed -- finally -- out of the bear market territory it has languished in since late December.


----------



## bigdog

Stocks shock off an early wobble on Wall Street Tuesday, finishing modestly higher and extending the market's gains into a fourth week.









https://www.usnews.com/news/busines...-gain-on-hopes-for-progress-on-china-us-trade

*US Stocks Bounce Back From Wobbly Start to Extend Gains*
Stocks shock off an early wobble on Wall Street Tuesday, finishing modestly higher and extending the market's gains into a fourth week.
Feb. 19, 2019, at 5:01 p.m.

By ALEX VEIGA, AP Business Writer

Stocks shock off an early wobble on Wall Street Tuesday, finishing modestly higher and extending the market's gains into a fourth week.

Solid earnings from Walmart encouraged investors to bid up other retailers and consumer goods companies. Communication services stocks and banks also contributed to the broad gains.

Homebuilders also notched gains following an industry survey showing improved confidence among builders heading into the key spring homebuying season.

Roughly 81 percent of S&P 500 companies have reported results for the last three months of 2018, delivering earnings growth of 13.1 percent versus a year earlier, according to FactSet. First-quarter snapshots are expected to result in a 2.5 percent decline in earnings, however.

Even so, the strong quarterly performance from the world's largest retailer was an encouraging signal on U.S. consumer spending after a government report last week showed retail sales slumped in December.

"Now that we're winding down on earnings, investors are looking forward to what's going to move the market higher," said Karyn Cavanaugh, senior markets strategist at Voya Investment Management. "The fact that the consumer is still strong is a comfort to investors."

The benchmark S&P 500 index, which has risen for the past three weeks, gained 4.16 points, or 0.1 percent, to 2,779.76.

The Dow Jones Industrial Average rose 8.07 points, or 0.03 percent, to 25,891.32. The Nasdaq composite added 14.36 points, or 0.2 percent, to 7,486.77. The Russell 2000 index of smaller companies picked up 5.22 points, or 0.3 percent, to 1,574.47.

Major European indexes finished mostly lower.

U.S. stock indexes got off to a downbeat start Tuesday as U.S. markets reopened following the Presidents Day holiday. They wavered between small gains and losses for most of the morning, then veered higher in late morning trading and held on to most of their gains the rest of the day.

London-based bank HSBC and oil and gas rig operator Transocean declined after both companies reported quarterly results that fell short of Wall Street analysts' forecasts. HSBC fell 3.1 percent and Transocean lost 2.2 percent.

But Walmart's results helped lift the market.

The retailer rose 2.2 percent after its quarterly earnings beat forecasts. Walmart benefited from growth in online sales and the expansion of its grocery pickup and delivery business. Amazon gained 1.2 percent, while Target added 1.5 percent.

The latest round of company earnings showed solid profit growth for the final three months of 2018, but caution about conditions going forward amid signs of a weaker global economy this year. Europe and China have both reported slower growth.

Meanwhile, uncertainty over the costly trade conflict between the U.S. and China has also clouded the outlook for company profits.

"We still have that overhang of global growth and trade issues," Cavanaugh said, noting that traders are looking ahead now to company earnings for the first quarter with "a little trepidation."

Beyond the quarterly corporate report cards, investors were keeping a close eye on talks between U.S. and Chinese negotiators in Washington that are aimed at ending a trade war between the world's largest economies.

A truce between the U.S. and China on increased American tariffs on Chinese goods expires at the end of next week, leaving the U.S. free to more than double its import duties on $200 billion in Chinese goods.

President Donald Trump has said there is a possibility he would extend that March 2 deadline if the two countries are close to a deal. Much is riding on the outcome of the talks after an inconclusive end to an earlier round in Beijing last week.

Vice Premier Liu He, China's economy czar, was due to arrive in Washington on Thursday, China's state media reported, after two days of preliminary talks by lower-level officials.

The U.S. is wrangling over trade with many nations. On Monday, the European Union warned that the bloc will hold back on a commitment to buy more American soybeans and liquefied gas if European cars are hit with punitive tariffs.

Investors also bid up shares in homebuilders after an industry survey showed builders are feeling more confident about their sales prospects this month.

The National Association of Home Builders/Wells Fargo Housing Market Index released Tuesday has a reading of 62. That's an increase of four points from last month's index and the highest reading since October.

Readings above 50 indicate more builders see sales conditions as good rather than poor.

William Lyon Homes was among the biggest gainers, adding 3.1 percent.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.64 percent from 2.66 percent late Friday. That yield is used to set rates on mortgages and other kinds of loans.

The dollar rose to 110.66 yen from 110.60 yen on Monday. The euro strengthened to $1.1340 from $1.1312.

Gold climbed 1.7 percent to $1,344.80 an ounce. Silver gained 1.4 percent to $15.97 an ounce. Copper jumped 2.7 percent to $2.87 a pound.

U.S. benchmark crude rose 0.9 percent to settle at $55.09 a barrel in New York. Brent crude, the standard for international oil prices, slipped 0.1 percent to close at $66.45 a barrel in London.

In other energy futures trading, wholesale gasoline dropped 0.6 percent to $1.56 a gallon. Heating oil slid 1.3 percent to $1.99 a gallon. Natural gas gained 1.4 percent to $2.66 per 1,000 cubic feet.


----------



## bigdog

Wall Street capped another day of listless trading Wednesday with a slight gain, extending the market's winning streak to a third day.










https://www.usnews.com/news/busines...shares-mixed-following-advance-on-wall-street

*US Stocks Cap Day of Listless Trading With Modest Gains*
Wall Street capped another day of listless trading Wednesday with a slight gain, extending the market's winning streak to a third day.
Feb. 20, 2019, at 4:44 p.m. 

By ALEX VEIGA, AP Business Writer

Wall Street capped another day of listless trading Wednesday with a slight gain, extending the market's winning streak to a third day.

Financial, materials and industrial companies accounted for much of the gain, outweighing losses in health care and real estate stocks as investors reviewed the latest batch of company earnings reports.

Garmin, maker of fitness trackers and navigation technology, rose after reporting better sales. CVS Health slumped after the pharmacy operator gave a 2019 outlook that fell short of Wall Street's expectations.

Stock indexes spent much of the day wavering between small gains and losses as traders waited for signs of progress in the latest round of trade talks between the U.S. and China.

"Investors are a bit concerned that we might indeed be slipping into an earnings recession," said Sam Stovall, chief investment strategist at CFRA. "They're really sitting on pins and needles as it relates to the trade talks."

The benchmark S&P 500 index, which has risen for the past three weeks, gained 4.94 points, or 0.2 percent, to 2,784.70. The Dow Jones Industrial Average added 63.12 points, or 0.2 percent, to 25,954.44.

The Nasdaq composite rose 2.30 points, or 0.03 percent, to 7,489.07. The Russell 2000 index of smaller companies picked up 7.19 points, or 0.5 percent, to 1,581.66.

Major European indexes finished higher.

Roughly 84 percent of S&P 500 companies have reported results for the last three months of 2018, delivering earnings growth of about 13 percent versus a year earlier, according to FactSet. First-quarter snapshots are expected to result in a 2.7 percent decline in earnings, however.

Despite the solid profit growth in the last quarter, investors are cautious about business conditions going forward as signs of weakness in the global economy emerge. Europe and China have both reported slower growth.

Uncertainty over the costly trade dispute between the world's largest economies has clouded the outlook for company profits this year.

"The earnings (outlook) reductions have been the result of the trade disagreement between China and the U.S.," Stovall said. "Should that get resolved, we could see a reversal of that trajectory."

The Trump administration was set Thursday to resume high-level talks with Chinese officials after two days of preliminary talks by lower-level officials.

The two sides, aiming to ease a trade standoff that's unnerved global investors and clouded the outlook for the world economy, held talks in Beijing last week. U.S. officials said those talks made some progress on difficult issues such as China's blueprint for making its industries world leaders in advanced technologies such as robotics and artificial intelligence.

The Trump administration has raised tariffs on billions of dollars' worth of Chinese goods and the U.S. is due to increase them on March 2, following a 90-day truce to allow time for the negotiations now underway. President Donald Trump has indicated the deadline might be extended if progress is being made.

Investors continued to assess corporate report cards Wednesday.

Garmin jumped 17 percent after reporting better sales and profit margins in the fourth quarter. The company's latest forecast came in ahead of financial analysts' projections. The stock led all others in the consumer discretionary sector, which includes retailers, automakers and restaurant chains.

La-Z-Boy surged 11.8 percent after the furniture company's latest quarterly earnings and revenue exceeded analysts' forecasts. The company benefited from higher average spending. Recent acquisitions also helped boost La-Z-Boy's results.

Cadence Design Systems climbed 4.6 percent after the software and engineering services company's latest quarterly results topped Wall Street's forecasts. The stock was the technology sector's biggest gainer.

CVS Health slumped 8.1 percent after the pharmacy operator issued a 2019 outlook that fell short of analysts' estimates. CEO Larry Merlo said in a prepared statement that 2019 would be "a year of transition" as the company integrates the health insurer Aetna, which it purchased in a roughly $69 billion deal last year. A federal judge is still evaluating the acquisition.

The Wednesday afternoon release of the minutes from the Federal Reserve's meeting of policymakers last month didn't hold any big surprises for investors.

Traders typically review the minutes in hopes of gleaning new insight into the central bank's interest rate policy. At the meeting last month, Fed officials kept the central bank's benchmark interest rate steady and, in a significant shift, sent a strong signal that they saw no need to raise rates anytime soon. That change helped drive the stock market higher in January.

Oil prices rebounded after an early slide. U.S. benchmark crude rose 1.5 percent to settle at $56.92 a barrel in New York. Brent crude, the standard for international oil prices, gained 0.9 percent to close at $67.08 a barrel in London.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.65 percent from 2.64 percent late Tuesday.

The dollar rose to 110.84 yen from 110.66 yen on Tuesday. The euro strengthened to $1.1350 from $1.1340.

Gold added 0.2 percent to $1,347.90 an ounce. Silver gained 1.3 percent to $16.18 an ounce. Copper jumped 1.6 percent to $2.92 a pound.

In other energy futures trading, wholesale gasoline climbed 2.2 percent to $1.60 a gallon. Heating oil added 1.2 percent to $2.02 a gallon. Natural gas dropped 1 percent to $2.64 per 1,000 cubic feet.


----------



## bigdog

Health care and energy companies led U.S. stocks lower Thursday, ending a three-day winning streak for the S&P 500 and giving the benchmark index only its fourth loss this month.










By ALEX VEIGA, AP Business Writer

Health care and energy companies led U.S. stocks lower Thursday, ending a three-day winning streak for the S&P 500 and giving the benchmark index only its fourth loss this month.

The modest sell-off came as investors weighed mixed economic data and company earnings reports while keeping an eye on Washington, where U.S. and Chinese negotiators resumed high-level talks aimed at ending their costly trade dispute. Treasury yields rose and the price of gold fell.

Some of the selling may have been driven by traders electing to take some profits following a big rebound in recent weeks, which came after a steep sell-off in the last three months of 2018, said Erik Wytenus, global investment specialist at J.P. Morgan Private Bank.

"Markets need a little bit of an opportunity to breathe," he said. "We definitely have seen some market participants lightening up some risk, given the size of that bounce back, because any way you slice it, we're late in the (economic) cycle."

The S&P 500, which has risen for the past three weeks, fell 9.82 points, or 0.4 percent, to 2,774.88. The Dow Jones Industrial Average lost 103.81 points, or 0.4 percent, to 25,850.63.

The Nasdaq composite declined 29.36 points, or 0.4 percent, to 7,459.71. The Russell 2000 index of smaller companies gave up 6.11 points, or 0.4 percent, to 1,575.55.

Major European indexes finished mostly higher.

The sell-off followed a torrid rise for stocks since late December. The S&P 500 index is still up 10.7 percent for 2019. That's a better performance than the index has turned in for three of the last four full years.

Thursday's losses were broad, with health care stocks, banks, energy and communications companies accounting for much of the decline. CVS Health dropped 2.9 percent, while SVB Financial Group lost 2.1 percent. CenturyLink fell 4.1 percent. Oil and natural gas explorer Concho Resources slid 7.8 percent.

Stocks headed lower from the get-go Thursday morning on a mix of new economic data.

The Labor Department said fewer workers applied for unemployment benefits last week than economists expected, an encouraging sign that layoffs are low. A separate report said that orders for big-ticket manufactured goods weren't as strong in December as expected. Meanwhile, the National Association of Realtors said sales of previously occupied U.S. homes fell 1.2 percent in January to their worst pace in more than three years.

The mixed data add to concerns that economic growth will slow in the United States and around the world this year.

Despite the solid profit growth in the last quarter, investors are cautious about business conditions going forward as signs of weakness in the global economy emerge. The long-running, costly trade dispute between the U.S. and China has also clouded the outlook for company profits this year.

"Trade is the big one right now, because there's still a lot of uncertainty on it," said Craig Birk, chief investment officer at Personal Capital.

The world's two biggest economies are locked in a trade war that President Donald Trump started over allegations that China deploys predatory tactics to try to overtake U.S. technological dominance. Beijing's unfair tactics, trade analysts agree, include pressuring American companies to hand over trade secrets and in some cases stealing them outright.

The Trump administration has warned it will increase its import taxes on $200 billion in Chinese goods from 10 percent to 25 percent if the two sides haven't reached a resolution by March 2. But Trump in recent days has signaled a willingness to extend the deadline if negotiators are making progress.

"The big thing is just avoiding the hike to 25 percent tariffs," Birk said. "The 10 percent (tariffs) had a real impact, but it was easily absorbed by the economy and most people didn't change the fundamental way they operated their business. A 25 percent tariff on many goods would be a different story and have much bigger impact."

Traders also got a mixed picture in the latest batch of company earnings reports Thursday.

Domino's Pizza slumped 9.1 percent after the pizza chain reported weak growth at its stores in the fourth quarter and results fell short of Wall Street forecasts.

Avis Budget Group jumped 17.1 percent after reporting earnings that were much better than analysts were expecting.

Norwegian Cruise Line Holdings climbed 3.4 percent after the cruise line operator's revenue surged in the fourth quarter and it gave investors a solid forecast.

Johnson & Johnson lost 0.7 percent after the world's biggest maker of health care products disclosed that it had received federal subpoenas related to litigation over its baby powder.

Benchmark U.S. crude slid 0.3 percent to settle at $56.96 a barrel in New York. Brent crude, used to price international oils, fell was little changed at $67.07 a barrel in London.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.69 percent from 2.65 percent late Wednesday.

The dollar fell to 110.68 yen from 110.84 yen on Wednesday. The euro weakened to $1.1336 from $1.1350.

Gold slid 1.5 percent to $1,327.80 an ounce. Silver slumped 2.3 percent to $15.80 an ounce. Copper dropped 0.8 percent to $2.90 a pound.

In other energy futures trading, wholesale gasoline rose 1 percent to $1.61 a gallon. Heating oil added 0.9 percent to $2.04 a gallon. Natural gas gained 2.3 percent to $2.70 per 1,000 cubic feet.


----------



## bigdog

Technology and health care companies led U.S. stocks higher Friday, erasing some of the market's losses from a day earlier and giving the benchmark S&P 500 its fourth straight weekly gain.










https://www.usnews.com/news/busines...s-mostly-lower-as-investors-watch-trade-talks

*Stocks Climb, Giving S&P 500 Its 4th Straight Weekly Gain*
Technology and health care companies led U.S. stocks higher Friday, erasing some of the market's losses from a day earlier and giving the benchmark S&P 500 its fourth straight weekly gain.
Feb. 22, 2019, at 5:05 p.m.

By ALEX VEIGA, AP Business Writer

Technology and health care companies led U.S. stocks higher Friday, giving the benchmark S&P 500 its fourth straight weekly gain.

The broad rally came as investors grew hopeful that the latest round of talks between the U.S. and China will lead to a resolution of the costly trade war that's unsettled markets and threatened the global economy.

High-level discussions between the Trump administration and Chinese negotiators were slated to continue through the weekend. President Donald Trump told reporters Friday afternoon that it was "more likely" that the talks will result in a deal.

Uncertainty over trade has contributed to a dimmer outlook for corporate earnings growth this year and added to concerns about the global economy, which is showing some signs of slowing.

"Investors are clearly optimistic that a compromise on trade talks will be coming sooner rather than later and those expectations appear to be reflected in the market rebound we see today," said Saira Malik, head of global equities at Nuveen.

The S&P 500 index rose 17.79 points, or 0.6 percent, to 2,792.67. The Dow Jones Industrial Average gained 181.18 points, or 0.7 percent, to 26,031.81. The Nasdaq composite climbed 67.84 points, or 0.9 percent, to 7,527.54. The Russell 2000 index of smaller companies picked up 14.51 points, or 0.9 percent, to 1,590.06.

Major European indexes finished higher.

The world's two biggest economies are locked in a trade conflict spurred by U.S. contentions that China uses predatory tactics to overtake U.S. technological dominance, including pressuring American companies to hand over trade secrets and in some cases stealing them outright.

The Trump administration has warned it will increase its import taxes on $200 billion in Chinese goods from 10 percent to 25 percent if the two sides haven't reached a resolution by March 2. But the White House has signaled a willingness to extend the deadline if negotiators are making progress.

President Donald Trump, fielding questions from reporters in the Oval Office late Friday afternoon, reiterated that he would "certainly consider" delaying that deadline if talks are going well. The negotiations were slated to continue through the weekend.

Asked about the prospects for a deal, Trump said: "It's probably more likely that a deal does happen."

Wall Street has been encouraged by the signals that Chinese and U.S. officials have sent since trade talks resumed early last week. That helped lift the market, along with better-than-expected company earnings for the fourth quarter of 2018 and the Federal Reserve's decision to take a pause on interest rate hikes.

"But the bigger picture is that with the market having such a nice rally year-to-date, we actually think we're in for a period of consolidation," Malik said. "Until you can see sustainable global economic growth, we think it's going to be tough for the market to really move a lot higher from here."

Traders also weighed a mix of company earnings reports Friday.

Wayfair jumped 27.9 percent after the online home furnishings retailer reported quarterly results that topped Wall Street's forecasts.

Universal Display climbed 23 percent after the LED technology company posted better-than-expected quarterly earnings and its guidance surpassed investor expectations.

Zillow Group climbed 24.7 percent a day after the online real estate information company issued quarterly earnings that topped analysts' expectations. The company also said co-founder Rich Barton has been named chief executive. Barton previously held the job from 2005 until 2010.

Kraft Heinz plunged 27.5 percent after the packaged foods company posted a stunning $12.6 billion fourth-quarter loss as it slashed the value of its Oscar Mayer and Kraft brands by $15.4 billion. The company also disclosed it was being investigated by federal securities regulators and cut its dividend.

Dropbox slid 8.4 percent after the online data storage company issued a disappointing outlook.

Stamps.com plunged 57.8 percent after the online shipping and postage company ended its exclusive partnership with the U.S. Postal Service and gave a weak forecast.

Benchmark U.S. crude rose 0.5 percent to settle at $57.26 a barrel in New York. Brent crude, used to price international oils, gained 0.1 percent to close at $67.12 a barrel in London.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.65 percent from 2.67 percent late Thursday.

The dollar rose to 110.71 yen from 110.68 yen on Thursday. The euro strengthened to $1.1337 from $1.1336.

Gold rose 0.4 percent to $1,332.80 an ounce. Silver gained 0.7 percent to $15.91 an ounce. Copper climbed 1.9 percent to $2.95 a pound.

In other energy futures trading, wholesale gasoline fell 0.2 percent to $1.61 a gallon. Heating oil declined 0.3 percent to $2.03 a gallon. Natural gas gained 0.7 percent to $2.72 per 1,000 cubic feet.

3952


----------



## bigdog

Stocks closed modestly higher Monday after shedding most of the gains from an early rally spurred by the Trump administration’s decision to hold off on increasing tariffs on imported Chinese goods

*SEA OF GREEN*










https://www.apnews.com/7974c768b3dd451ea94b786c639c8419

*US stocks close higher after Trump postpones tariff increase*
By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed modestly higher Monday after shedding most of the gains from an early rally spurred by the Trump administration’s decision to hold off on increasing tariffs on imported Chinese goods.

Investors welcomed the move, which averted an escalation in the damaging trade war between the world’s two largest economies. The fight is over U.S. complaints that Beijing steals technology or pressures companies to hand it over.

Traders have been growing increasingly optimistic over the last two weeks that the U.S. and China are moving closer to a resolution of their dispute. That’s helped lift stocks in recent weeks, gains which some analysts say suggest the market is already viewing an agreement as a done deal.

“You can attribute much of today’s gains to trade,” said Lindsey Bell, investment strategist at CFRA. “The closer we get to a deal getting done or some agreement being made, the smaller the gains are becoming.”

Technology companies and banks accounted for much of the market’s gains, outweighing losses in consumer goods stocks and other sectors. Oil prices fell sharply after President Donald Trump said they were getting too high. On Friday, oil closed at the highest level since mid-November.

The S&P 500 index added 3.44 points, or 0.1 percent, to 2,796.11. The benchmark index has finished higher the past four weeks in a row.

The Dow Jones Industrial average gained 60.14 points, or 0.2 percent, to 26,091.95. Earlier in the day it was up more than 209 points.

The Nasdaq composite rose 26.92 points, or 0.4 percent, to 7,554.46. The Russell 2000 index of smaller companies dropped 1.26 points, or 0.1 percent, to 1,588.81.

Progress in the U.S.-China trade talks also helped lift markets broadly in Europe and Asia, where China’s main index, the Shanghai Composite, jumped to an eight-month high.

China faced a March 2 deadline when the U.S. would have increased punitive duties on $200 billion worth of Chinese imports.

Trump, who did not set a new deadline Monday, said there had been “productive talks” on some of the more difficult issues and added he’s willing to meet with Chinese President Xi Jinping if negotiations progress.

The trade war and its hefty tariffs have already raised costs for businesses and consumers. Any additional escalation could shake investor confidence as an economic slowdown looms over China and Europe.

“I feel like we’re in a position where the president is interested in making deals,” said Jamie Cox, managing partner at Harris Financial Group.

The U.S. election cycle is just around the corner, giving the president an incentive to pursue deals and keep the economy and markets stable, he said. Even so, markets may be too optimistic about what’s possible in any China deal, as negotiations over intellectual property concerns will likely take more time.

Investors need to remain cautious, Cox said, citing soft economic data, including the surprise drop in retail sales in December.

“This is sort of an economic opportunity for investors to rebalance, to get a little less aggressive in their portfolios,” he said.

Beyond trade, investors had their eye on the latest corporate news and earnings reports.

General Electric rose 6.4 percent after the industrial giant announced plans to sell a biotech unit to Danaher for $21.4 billion. The sale is yet another step down in size for GE, which has been divesting businesses since getting hurt in the financial crisis a decade ago.

Shares in Spark Therapeutics more than doubled after pharmaceutical giant Roche offered to by the gene therapy company for about $4.8 billion. Roche is snapping up the company as its rivals also look to gene therapy as a way to build up their potential drug pipelines. The focus is treatment for rare diseases, which often involves very costly drugs.

Carter’s Inc. jumped 8.1 percent after the maker of children’s clothing reported strong profit growth in the fourth quarter and forecast further gains in 2019.

Western Digital led technology sector stocks after the data storage company announced a new flash memory card capable of holding up to a terabyte of information. The stock climbed 3.8 percent.

U.S. crude lost 3.1 percent to settle at $55.48 a barrel in New York after Trump criticized rising oil prices in an early morning tweet.

Prices are up about 20 percent so far this year. On Friday, oil ended at $57.26 a barrel, the highest level since November 12, when it closed at $59.93.

Brent crude, used to price international oils, fell 3.5 percent to close at $64.76 a barrel in London.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.67 percent from 2.65 percent late Friday.

The dollar fell to 110.15 yen from 110.71 yen on Friday. The euro strengthened to $1.1364 from $1.1337.

Gold fell 0.2 percent to $1,329.50 an ounce. Silver lost 0.5 percent to $15.83 an ounce. Copper dropped 0.2 percent to $2.95 a pound.

In other energy futures trading, wholesale gasoline slid 4.1 percent to $1.55 a gallon. Heating oil declined 2.8 percent to $1.97 a gallon. Natural gas climbed 4.4 percent to $2.84 per 1,000 cubic feet.


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## bigdog

U.S. stock indexes capped a day of wobbly trading with slight losses Tuesday, erasing some of their modest gains from a day earlier.










https://www.usnews.com/news/busines...ian-shares-lower-as-tariffs-delay-rally-fades

*US Stock Indexes End Slightly Lower After Wobbly Day*
U.S. stock indexes capped a day of wobbly trading with slight losses Tuesday, erasing some of their modest gains from a day earlier.
Feb. 26, 2019, at 4:53 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

U.S. stock indexes capped a day of wobbly trading with slight losses Tuesday, erasing some of their modest gains from a day earlier.

The market changed course several times during the day as investors balanced conflicting U.S. economic data and testimony from Federal Reserve Chairman Jerome Powell.

The Fed chief told Congress that the U.S. economy should keep expanding at a solid, though somewhat slower pace this year, and reassured markets that the central bank would be "patient" in raising interest rates.

Stocks got a boost following Powell's remarks, though it faded toward the end of the day.

"Powell was the big news today," said Karyn Cavanaugh, senior markets strategist at Voya Investment Management. "He didn't really say anything new, but he didn't say anything wrong."

Health care, financial and industrial companies took some of the heaviest losses, offsetting gains in technology stocks and retailers.

The S&P 500 dropped 2.21 points, or 0.1 percent, to 2,793.90. The benchmark index, which has finished higher the past four weeks in a row, broke a two-day winning streak.

The Dow Jones Industrial Average fell 33.97 points, or 0.1 percent, to 26,057.98. The Nasdaq composite slid 5.16 points, or 0.1 percent, to 7,549.30. The Russell 2000 index of smaller companies gave up 11.32 points, or 0.7 percent, to 1,577.48. Major European indexes finished mostly higher.

U.S stocks slipped in early trading after the government reported that the number of homes being built last month plunged to the lowest level in more than two years, the latest sign that the housing market is cooling. Homebuilders traded broadly lower following the report.

That downbeat housing report was countered by a subsequent survey from The Conference Board that shows consumers were far more confident last month than economists had expected. The increase in the index came after three months of declines.

Then the market got help from Powell, who told the Senate Banking Committee that the central bank is taking its time to decide when to change interest rates this year.

"When I say that we are going to be patient what that really means is that we are in no rush to make a judgment about changes in policy," Powell told the panel. "We are going to be patient. We are going to allow the situation to evolve ... and allow the data to come in. And I think we are in a very good place to do that."

It was Powell's first appearance before Congress since the Fed signaled in December that it would hold off on raising interest rates. Powell said he expects solid, but slower growth in 2019 and warned of growing risks, including a global slowdown, volatile financial markets and uncertainty about U.S. trade policy.

Many private economists believe the Fed will keep rates unchanged until late this year and may not raise them at all. Powell was due to testify before the House Financial Services Committee on Wednesday.

Traders also had their eye on more corporate earnings reports.

A weak housing market helped slam the brakes on growth for home improvement retailer Home Depot. The stock slid 0.9 percent after a key sales measure fell short of Wall Street's forecasts. The company also said it expects weak sales this year. Rival Lowe's Cos. is due to report its quarterly results Wednesday.

The housing market initially cooled last year as average 30-year mortgage rates climbed to nearly 5 percent. Home prices have consistently risen faster than wages and the inventory of homes listed for $250,000 or less is tight, suggesting a sluggish market going forward.

Homebuilders also traded lower Tuesday. LGI Homes led the slide, dropping 4.5 percent.

Macy's gained 1.5 percent after the company said it would trim its management structure in a move that could save it $100 million as it gears up for fiercer competition in the retail sector. The department store chain also surged past Wall Street's profit forecast for the quarter.

J.M. Smucker gained 5 percent after the food maker reported higher demand for premium products during its most recent quarter. Its results beat Wall Street's forecasts.

AutoZone climbed 5.1 percent after the auto parts retailer's sales and profit rose in its most recent quarter, surpassing analysts' expectations.

U.S. crude was essentially flat, closing at $55.50 a barrel in New York. Brent crude, used to price international oils, gained 0.7 percent to settle at $65.21 a barrel in London.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.64 percent from 2.67 percent late Monday.

The dollar declined to 110.51 yen from 110.15 yen on Monday. The euro strengthened to $1.1395 from $1.1364.

Gold fell 0.1 percent to $1,328.50 an ounce. Silver and copper were little changed at $15.83 an ounce and $2.95 a pound, respectively.

In other energy futures trading, wholesale gasoline added 2.7 percent to $1.59 a gallon. Heating oil rose 1.2 percent to $2 a gallon. Natural gas gained 0.7 percent to $2.86 per 1,000 cubic feet.


----------



## bigdog

Major U.S. stock indexes closed mostly lower Wednesday after wavering for much of the day between small gains and losses.










https://www.usnews.com/news/busines...shares-higher-as-region-eyes-trump-kim-summit

*Worries That China Trade Talks Are Stalling Weigh on Stocks*
Major U.S. stock indexes closed mostly lower Wednesday after wavering for much of the day between small gains and losses.
Feb. 27, 2019, at 4:52 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Major U.S. stock indexes closed mostly lower Wednesday after wavering for much of the day between small gains and losses.

The downbeat finish extended the market's mild losses from a day earlier. Even so, the benchmark S&P 500 index is on track to end the month with a gain of more than 3 percent, extending the market's rebound over the last two months after a steep slide late last year.

"The market has quickly recovered back to the three prior tops that it had within the downturn," said Tom Martin, senior portfolio manager with Globalt Investments.

Health care, communications and technology companies took the heaviest losses Wednesday, while financial, industrial and energy stocks notched gains.

The market had veered lower early in the day after comments from a key U.S. trade negotiator stoked doubt over how much progress was being made on resolving the trade war between the U.S. and China.

The news overshadowed a mix of corporate earnings reports. Weight Watchers plunged to its lowest point in nearly two years after issuing a dismal forecast. Best Buy surged on surprisingly good holiday sales.

All told, the S&P 500 index dropped 1.52 points, or 0.1 percent, to $2,792.38. The Dow Jones Industrial Average gave up 72.82 points, or 0.3 percent, to 25,985.16. The Nasdaq composite gained 5.21 points, or 0.1 percent, to 7,554.51.

Smaller companies fared better than the broader market. The Russell 2000 index picked up 3.57 points, or 0.2 percent, to 1,581.05. Major indexes in Europe declined.

Stocks headed broadly lower in early trading Wednesday after U.S. Trade Representative Robert Lighthizer told a panel of lawmakers that "much still needs to be done" before the U.S. and China can reach an agreement. China has offered to make major purchases of U.S. goods, such as soybeans and natural gas, in a bid to resolve the conflict, but Lighthizer said such steps wouldn't be enough.

"The issues on the table are too serious to be resolved with promises of additional purchases," he said. "We need new rules."

Lighthizer's comments are "creating market nervousness", said Kristina Hooper, chief global market strategist at Invesco.

Negotiations between Washington and Beijing continue under the threat of additional tariffs on Chinese goods that could escalate the conflict and make products even more costly for consumers and companies.

President Donald Trump has postponed increasing tariffs on $200 billion in Chinese goods that would have been effective March 2. He has not given a new date for the higher tariffs if negotiations falter.

The main sticking point for the U.S. centers on ending cyber theft of commercial secrets, limits on state support for Chinese companies, and an end to the forced transfer of technology.

Investors continued to size up the latest batch of corporate earnings reports.

Weight Watchers plunged 34.5 percent after the weight-loss program operator gave investors a surprisingly weak forecast. The company did not sign up as many subscribers as it hoped this winter and expects its profits to suffer.

CEO Mindy Grossman said the company hopes to pull in more subscribers this spring, with high-profile investor Oprah Winfrey playing a central role in its upcoming TV and digital marketing campaign.

Dean Foods slid 13.8 percent after the food and beverage company reported a wider-than-expected loss in the fourth quarter and suspended its dividend.

Best Buy notched the biggest gain in the S&P 500, vaulting 14.1 percent after reporting that its holiday sales bucked a downward trend for retailers.

The electronics retailer's profit beat forecasts, but more importantly a key retail sales measure continued growing during a tough quarter for the industry. The company also raised its quarterly dividend by 11 percent and its board of directors approved a $3 billion stock buyback program.

Other retailers also rose. Nordstrom added 3.7 percent, while Kohl's gained 2.5 percent.

Palo Alto Networks climbed 8.2 percent after the cybersecurity company's fiscal profit surged past analysts' forecasts. The company also announced a $1 billion stock buyback program.

Energy stocks finished higher, helped by rising oil prices. Concho Resources added 2.7 percent.

U.S. crude climbed 2.6 percent to settle at $56.94 a barrel in New York. Brent crude, used to price international oils, gained 1.8 percent to close at $66.39 a barrel in London.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.69 percent from 2.63 percent late Tuesday.

The dollar declined to 110.04 yen from 110.51 yen on Tuesday. The euro weakened to $1.1370 from $1.1395.

Gold fell 0.5 percent to $1,321.20 an ounce. Silver dropped 1 percent to $15.77 an ounce. Copper rose 0.4 percent to $2.96 a pound.

In other energy futures trading, wholesale gasoline jumped 3 percent to $1.63 a gallon. Heating oil rose 1.2 percent to $2.02 a gallon. Natural gas gained 0.1 percent to $2.80 per 1,000 cubic feet.


----------



## bigdog

Stocks finished modestly lower Thursday, closing out another listless day of trading on Wall Street with a third-straight loss for the market.










https://www.usnews.com/news/busines...hina-trade-talks-are-stalling-weigh-on-stocks

*After a Listless Day, S&P 500 Marks Its 3rd Straight Loss*
Stocks finished modestly lower Thursday, closing out another listless day of trading on Wall Street with a third-straight loss for the market.
Feb. 28, 2019, at 4:57 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks finished modestly lower Thursday, closing out another listless day of trading on Wall Street with a third straight loss for the market.

Technology, energy and consumer products companies pulled down the market, offsetting gains in consumer goods, utilities and real estate stocks.

Investors weighed a government report that showed economic growth slowed at the end of last year. Traders also had their eye on a mixed batch of corporate earnings reports.

"You have a market that's trying to digest what's next right now; really all week it's been kind of consolidating a little bit," said Willie Delwiche, investment strategist at Baird. "You also have month-end selling, which is not uncommon."

Despite a sluggish few days, the benchmark S&P 500 index still gained 11.1 percent over January and February, its best start to a year since 1991. The index has posted a monthly gain nine out of the past 12 months.

The S&P 500 index slipped 7.89 points, or 0.3 percent, to 2,784.49. The Dow Jones Industrial Average lost 69.16 points, or 0.3 percent, to 25,916. The Nasdaq composite index dropped 21.98 points, or 0.3 percent, to 7,532.53.

The Russell 2000 index of smaller companies gave up 5.50 points, or 0.3 percent, to 1,575.55. Major indexes in Europe closed mostly higher. South Korean stocks fell after talks between President Donald Trump and North Korean leader Kim Jong Un ended abruptly without an agreement.

The market's strong start to the year is in stark contrast to a dismal end to 2018, when a plunge almost put an end to the bull market. The gains so far this year are being pushed by investor confidence in prospects for steady growth and an increasingly hands-off Federal Reserve.

Still, the modest decline in stocks this week after a barely broken string of weekly gains in the S&P 500 suggests the market's momentum has started to stall a little bit, Delwiche said.

"A flat week feels like something has changed," Delwiche said.

Investors are still waiting for more details on trade negotiations between the U.S. and China. Trade Representative Robert Lighthizer has raised doubts about progress, telling lawmakers that "much still needs to be done" before the sides can reach an agreement over Beijing's technology strategy and other issues.

The latest snapshot of the U.S. economy shows that it grew in the fourth quarter at its slowest pace since the beginning of 2018. The growth still beat economists' forecasts, however, which sent bond yields higher. A bright spot in the latest report shows that for the full year, the economy grew at its fastest pace since 2015.

Still, signs that the global economy will slow this year, dragging down corporate profits, remain a concern for investors.

On Thursday, several tech companies reported subpar quarterly results.

HP plunged 17.3 percent after it reported that weaker printer and computer sales hurt fiscal first-quarter profit. It also expects printer supplies revenue to fall in 2019 because of weaker global demand.

Cloud-computing company Box nosedived 18.6 percent after delivering a weak forecast. Priceline.com parent Booking Holdings slumped 11 percent after warning of a slowdown of sales in Europe.

Results from other companies put traders in a buying mood.

Monster Beverage rose 8.7 percent on strong sales growth for its signature energy drinks. The higher drink sales pushed revenue and profit beyond Wall Street forecasts and the company plans to buy back $500 million in stock.

J.C. Penney surged 22.6 percent, it's second-biggest one-day gain, after the department store operator beat investor forecasts for the fourth-quarter. The retailer had warned of a weak holiday sales period and its profit tumbled more than 70 percent. Still, the results and a key sales measure for retailers weren't as bad as Wall Street expected.

The company, which has been closing stores for years, said it would turn the lights out at another 18 department stores, as well as nine home and furniture stores.

U.S. crude rose 0.5 percent to settle at $57.22 a barrel in New York. Brent crude, used to price international oils, fell 0.5 percent to close at $66.03 a barrel in London.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.72 percent from 2.69 percent late Wednesday.

The dollar rose to 111.42 yen from 110.04 yen on Wednesday. The euro strengthened to $1.1379 from $1.1370.

Gold fell 0.4 percent to $1,316.10 an ounce. Silver dropped 0.8 percent to $15.63 an ounce. Copper declined 0.5 percent to $2.95 a pound.

In other energy futures trading, wholesale gasoline slid 0.3 percent to $1.63 a gallon. Heating oil rose 0.1 percent to $2.02 a gallon. Natural gas gained 0.5 percent to $2.81 per 1,000 cubic feet.


----------



## bigdog

Health care and technology companies helped lift U.S. stocks higher Friday, breaking a three-day losing streak for the S&P 500 and giving the benchmark index its fifth consecutive weekly gain.










https://www.usnews.com/news/busines...sian-markets-rise-on-china-us-trade-prospects

*S&P 500 Snaps 3-Day Losing Streak as US Stocks Close Higher*
Health care and technology companies helped lift U.S. stocks higher Friday, breaking a three-day losing streak for the S&P 500 and giving the benchmark index its fifth consecutive weekly gain.
March 1, 2019, at 4:54 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Health care and technology companies helped lift U.S. stocks higher Friday, breaking a three-day losing streak for the S&P 500 and giving the benchmark index its fifth consecutive weekly gain.

Renewed optimism for a potential resolution to the U.S.-China trade conflict helped put investors in a buying mood following a Bloomberg story saying U.S. officials are preparing a deal that could be signed within a month.

The trade war between the world's largest economies has raised prices for consumers and companies. It's also deepened concerns that escalating tariffs could worsen the global economy's slowdown.

Even so, investors' jitters over trade and signs of a slowing global economy have been eased by confidence in the prospects for steady U.S. growth and an increasingly hands-off Federal Reserve. That's fueled the market's strong start to this year following its steep sell-off at the end of 2018.

"Clearly, the tariffs negotiations are moving in the right direction, as far as the market is concerned, and that's positive," said Quincy Krosby, chief market strategist at Prudential Financial. "The other positive is that the Fed remains on hold ... and they have been telegraphing that they remain patient on interest rate hikes."

The S&P 500 climbed 19.20 points, or 0.7 percent, to 2,803.69. That's the index's first close above 2,800 points since Nov. 8. The S&P has notched a weekly gain in nine of the past 10 weeks.

The Dow Jones Industrial Average rose 110.32 points, or 0.4 percent, to 26,026.32. The Nasdaq composite gained 62.82 points, or 0.8 percent, to 7,595.35. The Russell 2000 index of smaller companies picked up 14.08 points, or 0.9 percent, to 1,589.63. Major indexes in Europe also finished higher.

The U.S. stock indexes got off to a strong start early Friday, then lost ground after a report showed manufacturing growth slowed in February. But that pullback didn't last, a reflection of how traders have remained confident in the strength of the U.S. economy despite weak economic reports.

Consumer spending in December took its biggest tumble in nine years. Disappointing retail sales are another sign that growth slowed at the end of 2018.

Optimism over a potential U.S.-China trade deal marked a change from earlier in the week, when U.S. Trade Representative Robert Lighthizer raised doubts about progress in the talks. Speaking to lawmakers, Lighthizer said that much still needed to be done before the sides can reach an agreement over Beijing's technology strategy and other issues.

Washington accuses Beijing of stealing foreign companies' technology or pressuring them to hand it over. President Donald Trump has held off on a threat to impose higher tariffs on $200 billion of Chinese products as negotiations continue.

While the market's recent gains already reflect investors' optimism for a U.S.-China trade deal, stocks could get a further boost from an official resolution to the dispute, said Eric Wiegand, senior portfolio manager for Private Wealth Management at U.S. Bank.

"If we were able to see a successful conclusion to the negotiations that could be a near-term catalyst," he said.

Health care and technology companies accounted for much of the market's gains Friday. Celgene rose 3.4 percent, while Western Digital gained 2.7 percent.

A mix of company earnings and deal news also caught investors' attention Friday.

Gap surged 16.2 percent after it announced that it will spin off its Old Navy brand into a separate company. The retailer will retain its namesake brand, along with Banana Republic and others, in a new, yet to be named company.

The split comes as Old Navy has thrived while Gap struggles with increasing competition from the likes of Target and Amazon.

Several supermarket operators declined after The Wall Street Journal reported that Amazon is planning to open dozens of grocery stores in several U.S. cities. The e-commerce giant has been making a big push into brick-and-mortar stores, buying up the Whole Foods grocery chain in 2017 and opening cashier-less convenience stores around the country.

The news sent Amazon shares 1.9 percent higher. Supermarket operator Kroger slid 4.5 percent. Walmart, which also sells groceries, dropped 1.1 percent. Sprouts Farmers Markets fell 0.5 percent.

Investors bid up shares in Foot Locker after the footwear and athletic apparel retailer blew past investor expectations for the fourth quarter and forecast double-digit profit growth for this year. The stock climbed 6 percent.

Tesla tumbled 7.8 percent after CEO Elon Musk said the electric car maker is unlikely to turn a profit in the first quarter. The company also began selling a $35,000 version of its Model 3, which previously cost at least $42,900.

Caesars Entertainment gained 4.1 percent after the casino operator said it will replace three board members with directors chosen by billionaire activist investor Carl Icahn.

U.S. crude slid 2.5 percent to settle at $55.80 a barrel in New York. Brent crude, used to price international oils, dropped 1.9 percent to close at $65.07 a barrel in London.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.76 percent from 2.71 percent late Thursday.

The dollar rose to 112.01 yen from 111.42 yen on Thursday. The euro weakened to $1.1357 from $1.1379.

Gold fell 1.3 percent to $1,299.20 an ounce. Silver dropped 2.4 percent to $15.26 an ounce. Copper declined 0.5 percent to $2.93 a pound.

In other energy futures trading, wholesale gasoline slid 1.3 percent to $1.73 a gallon. Heating oil lost 1.3 percent to $2 a gallon. Natural gas gained 1.7 percent to $2.89 per 1,000 cubic feet.

6243


----------



## bigdog

Skate

I would appreciate if you could please post NYE exchange indexes plus NYSE report which is issued about 9:00am Melb time for me
https://www.usnews.com/news/business

I have just arrived in Bangkok now 4:54 am Thailand time and will be asleep shortly


----------



## Skate

*Dow Plunges Below 26,000 (25,819.65) *
*





Stocks Slide as Investors Wait for Details on Trade Talks*
Health care companies are leading a broad slide on Wall Street as investors wait for more details on reports that the U.S. and China are moving closer to a deal to resolve their costly trade dispute.

BY DAMIAN J. TROISE AND ALEX VEIGA, AP Business Writers

Health care companies led a broad slide on Wall Street Monday afternoon as investors waited for more details on reports that the U.S. and China are moving closer to a deal to resolve their costly trade dispute.

The sell-off in stocks was most pronounced in sectors that have shown strong gains over the last two months, including health care and technology. Financial stocks also took heavy losses.

The world's two largest economies have pulled back from an immediate escalation of their damaging trade war since they started negotiating last month. President Donald Trump postponed a deadline for raising tariffs on more Chinese goods, citing progress in a series of talks. Now, media reports say the nations could strike a deal this month.

The main sticking point for the U.S. is China's technological ambitions. The U.S. has accused China of stealing technology and forcing companies to turn over technology in order to do business.

Tit-for-tat tariffs imposed by both nations have raised prices on a variety of goods. China could be close to a deal that would cut tariffs on U.S. farm, auto and other products and the U.S. is considering removing most sanctions on imports, according to media reports.

*Dow Plunges Below 26,000 (25,819.65) after Donald Trump Bashes Fed*
The Dow and broader U.S. stock market gave up early gains Monday, as investors digested President Donald Trump’s latest criticism of the ‘gentleman who loves quantitative tightening,’ a direct reference to Federal Reserve Chairman Jerome Powell.

*Dow Weakens - S&P 500 and Nasdaq Follow*
All of Wall Street’s major indexes backed off session highs mid-morning, with the Dow giving up triple-digit gains that reflected a strong pre-market session for U.S. stock futures. UnitedHealth Group Inc. (UNH) was the Dow’s weakest link. Shares of McDonald’s Corp (MCD) and Walgreens Boots Alliance Inc. (WBA) each fell.

*The broader S&P 500 index of large-cap stocks also fell to 2,792.81. *
The index was up earlier in the day. Gains were primarily concentrated in the financials, industrials, and consumer categories. On the opposite side of the ledger, healthcare and utilities both fell.

*The technology-focused Nasdaq Composite Index also reversed gains, falling to 7,577.57.*
A measure of expected volatility known as the CBOE VIX rose to 14.61 on a scale of 1-100 where 20-25 represents the historic mean. The so-called “fear index” settled near five-month lows on Friday.

*President Donald Trump calles out Jerome Powell*
President Donald Trump has made it abundantly clear he is no fan of the Federal Reserve. On Saturday, he called out Jerome Powell for taking the sails out of the U.S. economy through aggressive interest rate hikes.

_“We have a gentleman that loves quantitative tightening in the Fed,” _

*Trump told a Conservative Political Action Conference on Saturday. *
_“We have a gentleman that likes a very strong dollar in the Fed. So with all of those things — we want a strong dollar but let’s be reasonable — with all of that, we’re doing great. Can you imagine if we left interest rates where they were? If we didn’t do quantitative tightening? I want a dollar that’s great for our country but not a dollar that’s prohibitive for us to be doing business with other countries.”_

*Futures traders*
Led by Powell, central bankers raised the federal funds rate a total of four times last year. They have since backed off on their hawkish stance now that it is abundantly clear that stocks and the economy have become addicted to cheap money. Futures traders now fully expect the Federal Reserve to remain on the sidelines throughout 2019, according to Fed Fund futures prices

Skate.


----------



## bigdog

Thank you very much skate

Health care companies led stocks lower on Wall Street Monday as investors waited for more details on reports that the U.S. and China are moving closer to a deal to resolve their costly trade dispute.










https://www.usnews.com/news/busines...-rise-on-reports-us-china-close-to-trade-deal

*Health Care, Tech Lead Losses for Stocks on Wall Street*
Health care companies led stocks lower on Wall Street Monday as investors waited for more details on reports that the U.S. and China are moving closer to a deal to resolve their costly trade dispute.
March 4, 2019, at 5:03 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Health care companies led stocks lower on Wall Street Monday as investors waited for more details on reports that the U.S. and China are moving closer to a deal to resolve their costly trade dispute.

The sell-off was most pronounced in sectors that have shown strong gains over the last two months, including health care and technology. Financial stocks also took heavy losses.

The world's two largest economies have pulled back from an immediate escalation of their damaging trade war since they started negotiating last month. President Donald Trump postponed a deadline for raising tariffs on more Chinese goods, citing progress in a series of talks. Now, media reports say the nations could strike a deal this month.

"The devil is still in the details and those details are still pretty sparse at this point," said David Lefkowitz, senior Americas equity strategist at UBS Global Wealth Management. "When tariffs might be removed is definitely a key question, and also there's still some uncertainty about whether or not a deal will be consummated."

The S&P 500 index dropped 10.88 points, or 0.4 percent, to 2,792.81. The index, a benchmark for many mutual funds, is still up 11.4 percent so far this year.

The Dow Jones Industrial Average fell 206.67 points, or 0.8 percent, to 25,819.65. The average was briefly down more than 414 points.

The Nasdaq composite lost 17.79 points, or 0.2 percent, to 7,577.57. The Russell 2000 index of smaller companies gave up 14.20 points, or 0.9 percent, to 1,575.44.

Major indexes in Europe finished mostly higher.

Investors have been hoping for a resolution in the long-running trade dispute between the world's biggest economies, which centers on China's technological ambitions. Washington claims Beijing is stealing technology and forcing companies to turn over technology in order to do business.

Tit-for-tat tariffs imposed by both nations have raised prices on a variety of goods. Now, both sides could be close to a deal that would call for China to cut tariffs on U.S. farm, auto and other products, while the U.S. removes most sanctions on imports, according to media reports.

Optimism that a trade pact could be finalized soon gave markets an early boost Monday, but the rally faded as traders sized up mixed U.S. construction spending data.

The Commerce Department said construction spending edged down 0.6 percent in December amid declines in residential construction and government projects. Even with the December setback, construction spending for all of 2018 reached record levels, though it was the smallest increase seven years.

"It gave people an excuse to sell," said JJ Kinahan, chief market strategist for TD Ameritrade.

The construction spending report was good news for homebuilders, which bucked the broader market trend. PulteGroup climbed 3.5 percent, while D.R. Horton rose 3.1 percent.

Health care stocks led the sell-off among companies in the S&P 500. UnitedHealth Group slid 4.1 percent, the biggest loss among the 30 stocks in the Dow.

Technology companies and banks also fell. Salesforce.com sank 3.7 percent and Charles Schwab lost 2.5 percent.

AT&T dropped 2.7 percent on news the telecom company is reorganizing its WarnerMedia unit, which includes HBO and Warner Bros.

Children's clothing retailer Children's Place gave investors a dismal forecast after reporting a disappointing fourth quarter. The stock skidded 10.3 percent.

The main issue is competition from dying competitors holding liquidation sales. Rivals Gymboree and Crazy 8 stores have been in the process of shutting down, which means liquidation sales and better deals for shoppers.

"We have never experienced a total liquidation of a direct competitor of the size and proximity of Gymboree," Children's Place CEO Jane Elfers said in a prepared statement.

Traders bid up shares in gene therapy developer Nightstar Therapeutics 66.1 percent after biotech giant Biogen offered to buy it for $877 million in cash. Nightstar is developing treatments for rare eye conditions.

Biogen and other large drug developers have been trying to expand their portfolios to include gene therapy and treatments for rare conditions. Those treatments are expensive to develop, but command better prices if they make it to market.

U.S. crude rose 1.4 percent to settle at $56.59 a barrel in New York. Brent crude, used to price international oils, gained 0.9 percent to close at $65.67 a barrel in London.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.73 percent from 2.75 percent late Monday.

The dollar fell to 111.94 yen from 112.01 yen on Friday. The euro weakened to $1.1325 from $1.1357.

Gold fell 0.9 percent to $1,287.50 an ounce. Silver dropped 1 percent to $15.11 an ounce. Copper declined 0.8 percent to $2.91 a pound.

In other energy futures trading, wholesale gasoline climbed 1.1 percent to $1.75 a gallon. Heating oil added 0.7 percent to $2.01 a gallon. Natural gas slid 0.1 percent to $2.86 per 1,000 cubic feet.


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## bigdog

A mostly listless day on Wall Street ended Tuesday with stocks closing slightly lower as losses in industrial, technology and financial stocks outweighed gains elsewhere in the market.










https://www.usnews.com/news/busines...ixed-as-china-targets-6-65-pct-growth-in-2019

*Industrial, tech companies pull US stocks slightly lower*
A mostly listless day on Wall Street ended Tuesday with stocks closing slightly lower as losses in industrial, technology and financial stocks outweighed gains elsewhere in the market.
March 5, 2019, at 5:05 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA

A mostly listless day on Wall Street ended Tuesday with stocks closing slightly lower as losses in industrial, technology and financial stocks outweighed gains elsewhere in the market.

Stocks wavered between small gains and losses through much of the day, with communications companies and retailers bucking the overall market decline. Mixed data on new U.S. home sales pulled homebuilders lower.

The stagnant trading came as investors looked ahead to a busy stretch of economic data releases later this week and the Federal Reserve’s next interest rate policy meeting in two weeks. Meanwhile, traders continued to wait for new details on the trade talks between the U.S. and China.

Stock prices already reflect the recent investor optimism that the world’s biggest economies are close to reaching a deal, noted Bill Northey, senior investment director at U.S. Bank Wealth Management.

“We’ll know those details when they’re announced,” he said. “That’s part of what the market is digesting.”

The S&P 500 index dropped 3.16 points, or 0.1 percent, to 2,789.65. The Dow Jones Industrial Average fell 13.02 points, or 0.1 percent, to 25,806.63. The Nasdaq composite slipped 1.21 points, or 0.02 percent, to 7,576.36. The Russell 2000 index of smaller companies gave up 7.15 points, or 0.5 percent, to 1,568.28.

Major indexes in Europe finished higher.

The U.S. and China have pulled back from an immediate escalation of their damaging trade war since they started negotiating last month. President Donald Trump postponed a deadline for raising tariffs on more Chinese goods, citing progress in a series of talks. Media reports on Monday suggested the nations could strike a deal this month.

The market has often jumped on hopes that progress was being made on the trade talks, only to fall back later as details didn’t come through.

“We’re going to need some additional news to move higher from here,” Northey said.

Absent news on trade, investors have been keeping an eye on retailers, many of which have been reporting quarterly results the past two weeks.

Target and Kohl’s led retailers higher Tuesday after the companies reported encouraging quarterly results and outlooks.

Many retailers had to grapple with an overall slowdown in sales at the end of last year on top of growing competition from Amazon and other e-commerce companies. Target noted strong online sales and traffic growth during the crucial holiday sales quarter, however. The stock climbed 4.6 percent. Kohl’s jumped 7.3 percent.

Homebuilders declined broadly after the Commerce Department said sales of new U.S. homes rose 3.7 percent in December, the highest pace in seven months. Even so, sales were down from a year earlier.

Meritage Homes slid 3.6 percent.

Industrial and technology stocks accounted for much of the market’s slide Tuesday, offsetting strength in other sectors. General Electric slumped 4.7 percent, while chipmaker Micron Technologies gave up 2.6 percent.

Hertz dropped 9.9 percent after activist investor Carl Icahn cut his holdings in the car rental company.

Papa John’s International rose 5 percent after reaching a settlement with founder John Schnatter that calls for him step down from the board once an independent director replaces him.

The company has been floundering since Schnatter took a series of missteps, first blaming disappointing sales on NFL player protests and then using a racial slur during a company conference call. He stepped down as CEO in 2017 and later resigned as chairman of the board.

U.S. crude slipped 0.1 percent to settle at $56.56 a barrel in New York. Brent crude, used to price international oils, gained 0.3 percent to close at $65.86 a barrel in London.

Bond prices held steady. The yield on the 10-year Treasury note was little changed at 2.72 percent.

The dollar fell to 111.89 yen from 111.94 yen on Monday. The euro weakened to $1.1303 from $1.1325.

Gold fell 0.2 percent to $1,284.70 an ounce. Silver was little changed at $15.11 an ounce. Copper rose 0.8 percent to $2.93 a pound.

In other energy futures trading, wholesale gasoline climbed 1.1 percent to $1.77 a gallon. Heating oil added 0.1 percent to $2.02 a gallon. Natural gas slid 0.9 percent to $2.88 per 1,000 cubic feet.


----------



## bigdog

Health care companies led U.S. stocks broadly lower Wednesday, giving the market its third straight loss.

Technology and energy stocks also bore the brunt of the selling, offsetting gains in materials and utilities companies. Several retailers also rose. Smaller companies fell more than the rest of the market.










https://www.usnews.com/news/busines...stly-higher-as-congress-lifts-chinese-markets

*Health Companies Lead US Stocks Their 3rd Loss in a Row*
Health care companies led U.S. stocks broadly lower Wednesday, giving the market its third straight loss.
March 6, 2019, at 4:46 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Health care companies led U.S. stocks broadly lower Wednesday, giving the market its third straight loss.

Technology and energy stocks also bore the brunt of the selling, offsetting gains in materials and utilities companies. Several retailers also rose. Smaller companies fell more than the rest of the market.

The latest market slide came as investors weighed a new survey indicating a lower-than-expected gain in hiring by private U.S. companies last month and data showing the nation's trade deficit widened to a decade-long high in December. The discouraging reports come ahead of a key government report on jobs Friday.

"The market is going through a natural digestion process," said Sam Stovall, chief investment strategist at CFRA. "Some people could be worrying that maybe we are getting closer to an economic slowdown than we thought."

The S&P 500 dropped 18.20 points, or 0.7 percent, to 2,771.45. The benchmark index is now on track for its first weekly decline since January.

The Dow Jones Industrial Average fell 133.17 points, or 0.5 percent, to 25,673.46. The Nasdaq composite lost 70.44 points, or 0.9 percent, to 7,505.92. The Russell 2000 index of smaller companies gave up 31.46 points, or 2 percent, to 1,536.82.

Disappointing economic reports, uncertainty over trade and fears of a slowdown in economic growth have been weighing on the market the past couple weeks.

New economic data on Wednesday did little to encourage investors. Payroll processor ADP said U.S. businesses added 183,000 jobs in February. A solid gain, but less than the 188,000 that analysts expected. Meanwhile, the Commerce Department said the U.S. trade deficit jumped 19 percent in December, widening the figure to a decade-long high of $621 billion.

At times, the market has also drawn optimism over the prospects that the U.S. and China will resolve their trade dispute. U.S. and Chinese officials have hinted that some kind of agreement could be finalized by the end of March, with President Donald Trump and President Xi Jinping possibly meeting to formalize the deal at Trump's private club in Mar-a-Lago, Florida.

Last year, Trump imposed a series of tariffs on Chinese goods in hopes of pressuring Beijing to support more favorable terms for the United States. In June, the White House levied import taxes of 25 percent on $50 billion of Chinese imports. It followed in September with 10 percent duties on an additional $200 billion. All told, the U.S. tariffs covered roughly half of what the U.S. buys from China.

The market got clarity on some uncertainties over the last month, including the Federal Reserve's strategy and prospects for a U.S.-China trade deal. But investors now face other concerns including a potential global slowdown and increased government debt, said Tracie McMillion, head of global asset allocation at Wells Fargo Investment Institute.

"We're just waiting for some news that will give us some direction," McMillion said.

Health care stocks led Wednesday's market slide. Nektar Therapeutics slumped 5.2 percent.

Investors sent shares in General Electric 7.9 percent lower after the conglomerate's CEO said it will be left with no extra funds in 2019. GE has shrunk considerably since becoming entangled in the financial crisis a decade ago and has sought to divest even more of its businesses.

Exxon Mobil fell 1.1 percent after the energy company said it would increase spending. Exxon's decline was part of a broader sell-off in energy stocks. Hess was down 4.1 percent, while Halliburton slid 4.8 percent.

Retailers put traders in a buying mood for the second day in a row.

A solid fourth quarter and forecast pushed shares of Abercrombie & Fitch 20.4 percent higher. The retailer beat an important industry sales measure on gains at its Hollister brand.

Abercrombie's results came a day after Target and Kohl's reported solid quarterly earnings and forecasts. The batch of strong results have been a surprise for investors, considering that overall retail sales fell broadly in December.

Among other retailers, Tailored Brands and Capri Holdings, owner of the Michael Kors, Jimmy Choo and Versace clothing and footwear brands, each rose 1.8 percent.

Dollar Tree gained 5.1 percent after the discount retail chain said it is closing up to 390 Family Dollar stores this year and rebranding about 200 others under the Dollar Tree name.

The company also slashed the value of its struggling Family Dollar chain, booking a $2.73 billion charge in its fiscal fourth quarter.

Dollar Tree acquired Family Dollar in 2015 for almost $9 billion. The move was expected to bolster its business and better battle chains like Walmart and rival Dollar General, but Family Dollar has struggled and pulled down the parent company's earnings.

U.S. crude slid 0.6 percent to settle at $56.22 a barrel in New York. Brent crude, used to price international oils, gained 0.2 percent to close at $65.99 a barrel in London.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.69 percent from 2.72 percent late Tuesday.

The dollar fell to 111.81 yen from 111.89 yen on Tuesday. The euro strengthened to $1.1308 from $1.1303.

Gold rose 0.2 percent to $1,287.60 an ounce. Silver dropped 0.1 percent to $15.09 an ounce. Copper fell 0.5 percent to $2.92 a pound.

In other energy futures trading, wholesale gasoline climbed 1.2 percent to $1.79 a gallon. Heating oil was little changed at $2.02 a gallon. Natural gas slid 1.5 percent to $2.84 per 1,000 cubic feet.


----------



## bigdog

Technology and financial companies helped pull U.S. stocks broadly lower Thursday, marking the fourth straight loss for the S&P 500. The benchmark index is now on track for its first weekly drop since January










https://www.usnews.com/news/busines...mostly-lower-as-us-china-trade-optimism-fades

*Stocks Slump Again on Wall Street, Extending Weekly Losses*
Technology and financial companies helped pull U.S. stocks broadly lower Thursday, marking the fourth straight loss for the S&P 500.
March 7, 2019, at 4:58 p.m

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Technology and financial companies helped pull U.S. stocks broadly lower Thursday, marking the fourth straight loss for the S&P 500. The benchmark index is now on track for its first weekly drop since January.

Losses in health care stocks and big retailers also weighed on the market. Utilities eked out a gain as investors sought out safer holdings.

With fourth-quarter earnings having wound down and lingering uncertainty over trade talks between the U.S. and China, traders have had little reason to extend the gains the market has made since early this year.

The wave of selling on Wall Street followed a sell-off in European indexes after the European Central Bank delayed its next interest rate hike and announced a new round of cheap loans for banks. Traders saw the move as an acknowledgement of weaker economic growth by the central bank, stoking investors' worries that the global economy is slowing.

"The tone for the day was pretty much set by the ECB," said Erik Davidson, chief investment officer at Wells Fargo Private Bank. "Normally the market would respond well to this very accommodative monetary policy, but the comments around it and concerns for the eurozone economy are probably what's put the market back on its heels."

The S&P 500 declined 22.52 points, or 0.8 percent, to 2,748.93. The Dow Jones Industrial Average fell 200.23 points, or 0.8 percent, to 25,473.23. The average was briefly down more than 320 points.

The Nasdaq composite dropped 84.46 points, or 1.1 percent, to 7,421.46. The Russell 2000 index of smaller companies gave up 13.19 points, or 0.9 percent, to 1,523.63. European indexes finished lower.

A lack of concrete news on trade and lingering economic concerns have been weighing on stocks all week.

Investor optimism about progress in trade talks between the U.S. and China appears to be waning. Media reports have signaled that a deal could be struck this month, but there is less confidence in any of the major issues being resolved.

Meanwhile, traders have been combing company earnings reports and economic data for clues about the trajectory of the global economy, which has been showing signs of slowing. Investors will get a better look at U.S. economic trends Friday, when the government releases key data on jobs and new home construction.

The ECB on Thursday became the latest central bank to acknowledge weaker economic growth and take steps to lessen the damage. The ECB said it will not raise rates before the end of this year at the earliest. Previously, it had said that earliest rate hike would come in the fall.

China's government has also taken up a series of stimulus measures. In the U.S., the Federal Reserve has pulled back from raising interest rates, acknowledging potential threats to economic growth.

"Investors are very, very concerned about a recession — overly concerned," Davidson said. "The U.S. economy itself is not anywhere near contracting, but it's not growing certainly at the rapid pace it has in prior years."

Digital storage companies Seagate Technology and Western Digital fell Thursday as part of the sharp decline in technology stocks. Shares in both companies dropped 2.3 percent.

Disappointing earnings reports from a couple of retailers also helped put investors in a selling mood.

Kroger tumbled 10 percent after the grocery store operator reported weak earnings and a drop in fourth-quarter revenue that fell short of Wall Street forecasts. The stock was the biggest decliner in the S&P 500.

Barnes & Noble slumped 12.6 percent after the bookseller slashed its full fiscal year earnings forecast.

Traders bid up shares in H&R Block after the tax software and preparation company said it remains on track to hit its financial forecast for the fiscal year.

The company reported a delay in tax returns filed during its fiscal third quarter that hurt revenue. The company's fourth fiscal quarter, the height of tax season, is typically its strongest. H&R Block's shares finished 2.7 percent higher.

U.S. crude rose 0.8 percent to settle at $56.66 a barrel in New York. Brent crude, used to price international oils, gained 0.5 percent to close at $66.30 a barrel in London.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.64 percent from 2.69 percent late Wednesday.

The dollar declined to 111.52 yen from 111.81 yen on Wednesday. The euro weakened to $1.1186 from $1.1308.

Gold fell 0.1 percent to $1,286.10 an ounce. Silver slid 0.3 percent to $15.04 an ounce. Copper declined 0.3 percent to $2.91 a pound.

In other energy futures trading, wholesale gasoline climbed 0.9 percent to $1.81 a gallon. Heating oil slipped 0.2 percent to $2.01 a gallon. Natural gas gained 0.9 percent to $2.87 per 1,000 cubic feet.


----------



## bigdog

Another wave of selling on Wall Street Friday left the S&P 500 with its worst weekly showing since January and its eighth loss in the last nine days.

The sell-off, which lost some strength toward the end of the day, followed a surprisingly weak jobs report and more signs that the global economy is hitting the brakes. On Friday a report showed Chinese exports plunged 20 percent last month, far more than economists expected. On Thursday, Europe's central bank said it was doing a policy reversal and restoring measures to shore up that region's economy.











https://www.usnews.com/news/busines...sian-shares-tumble-on-poor-chinese-trade-data

*First Down Week Since January for S&P 500 as Unease Spreads*
Another wave of selling on Wall Street Friday left the S&P 500 with its worst weekly showing since January and its eighth loss in the last nine days.
March 8, 2019, at 4:56 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

Another wave of selling on Wall Street Friday left the S&P 500 with its worst weekly showing since January and its eighth loss in the last nine days.

The sell-off, which lost some strength toward the end of the day, followed a surprisingly weak jobs report and more signs that the global economy is hitting the brakes. On Friday a report showed Chinese exports plunged 20 percent last month, far more than economists expected. On Thursday, Europe's central bank said it was doing a policy reversal and restoring measures to shore up that region's economy.

Energy stocks led the market's slide as crude oil prices declined. Health care companies and retailers also pulled the market lower. Most homebuilders rose following a big jump in January housing starts.

The U.S. jobs report is the latest batch of discouraging economic news to give investors a reason to sell and pocket some of their recent gains as they wait for the next positive headline or economic data to pave the way for stocks to move higher again, said Mark Watkins, regional investment strategist at U.S. Bank Wealth Management.

"We've had a very solid run and there are investors who are going to be taking a little bit of money off the table," Watkins said.

The S&P 500 dropped 5.86 points, or 0.2 percent, to 2,743.07. The benchmark index has fallen five days in a row, its longest losing streak in nearly four months.

The Dow Jones Industrial Average lost 22.99 points, or 0.1 percent, to 25,450.24. The average briefly fell more than 220 points.

The Nasdaq composite declined 13.32 points, or 0.2 percent, to 7,408.14. The Russell 2000 index of smaller companies gave up 1.74 points, or 0.1 percent, to 1,521.88.

Major European indexes closed lower.

The market's momentum has stalled this week after enjoying a sharp bounce back at the start of this year. This week's losses for the S&P 500 are the worst since December, but not as severe as they were then, when worries were peaking about a slowing global economy and that interest rates may rise too quickly. Since then, the Federal Reserve helped calm some of the worries by pledging to be patient in raising rates.

Still, investors are feeling increasingly uneasy about the global economy. The Organisation for Economic Co-operation and Development said this week that it expects global growth to be 3.3 percent this year, down from the 3.5 percent that it had forecast just four months ago.

The OECD said economic prospects are weaker in nearly all the countries that make up the G20 than previously expected, and it cited a slowdown in trade and global manufacturing, among other reasons. The United States and China have been locked in a particularly tense trade dispute, though the countries say they're making progress in negotiations.

Analysts are debating whether the U.S. stock market's latest moves are the last gasps for the longest bull market on record for U.S. stocks, which began 10 years ago this weekend, or just the latest challenge for it muddle through.

"Right now, the U.S. economy is gradually slowing, and earnings are trending a little bit lower," Watkins said. "Any news that has been coming out that hasn't been that strong has been a little bit of a negative catalyst for the market to have a reason to move back just a little bit."

The strong U.S. labor market has been a major pillar of support for the stock market's run in recent years, but Friday's jobs report was surprisingly bad.

Employers added just 20,000 jobs last month, when economists were expecting something closer to 180,000. Last month's job growth was also a sharp slowdown from January's 311,000, a number that the government revised higher on Friday.

A slower global economy wouldn't need as much oil, and the price of crude sank Friday along with expectations for demand. Benchmark U.S. crude fell 1 percent to settle at $56.07 per barrel. Brent crude, the international standard, lost 0.8 percent to close at $65.74 per barrel.

The sharp decline sent energy companies to double the loss of any of the other 10 sectors that make up the S&P 500. They ended 2 percent lower.

Also hurting the sector was a decision by Norway's $1 trillion wealth fund to dump shares in some oil and gas companies. The move would exclude companies that operate solely in exploration or production, but it will continue to own the biggest companies in the energy industry.

Noble Energy and EOG Resources tumbled 5.4 percent.

New U.S. residential construction data gave traders reason to be more optimistic about homebuilder stocks.

The Commerce Department said housing starts jumped 18.6 percent in January, as builders ramped up construction of single-family houses to the fastest pace in eight months. The rebound after December's plunge bodes well for the new-home market heading into the spring homebuying season.

Hovnanian Enterprises gained 4 percent. KB Home added 1.5 percent.

Traders hammered National Beverage after the maker of La Croix soft drinks reported disappointing quarterly earnings.

The CEO issued a puzzling statement saying, "We are truly sorry for the results stated above," and blamed the weak performance on unspecified "injustice." The stock slumped 14.6 percent.

Costco Wholesale bucked Wall Street's downward trend, climbing 5.1 percent for the biggest gain among stocks in the S&P 500. The warehouse club operator reported profit growth that was far stronger than analysts expected.

Other retailers racked up losses. Foot Locker lost 3.3 percent, Ross Stores slid 3.6 percent and Gap dropped 3 percent.

The weak U.S. jobs growth helped pull the value of the dollar lower against its peers. The U.S. currency slipped to 111.07 Japanese yen from 111.52 yen late Thursday. The weaker dollar sent the euro up to $1.1242 from $1.1186.

Bond prices were little changed. The yield on the 10-year Treasury note held at 2.63 percent.

Gold rose 1 percent to $1,299.30 an ounce. Silver climbed 2.1 percent to $15.35 an ounce. Copper declined 0.6 percent to $2.89 a pound.

In other energy futures trading, wholesale gasoline slid 0.2 percent to $1.80 a gallon. Heating oil dropped 0.6 percent to $2 a gallon. Natural gas held steady at $2.87 per 1,000 cubic feet.

4770


----------



## bigdog

A broadly rally led by technology companies drove U.S. stocks sharply higher Monday, giving the S&P 500 its biggest increase since late January.

The latest gains also snapped a five-day losing streak for the benchmark index, which was coming off its worst weekly stumble this year.










https://www.usnews.com/news/busines...-shares-mixed-as-china-us-trade-talks-drag-on

*Tech Leads US Stocks Broadly Higher; Boeing Drops*
A broadly rally led by technology companies drove U.S. stocks sharply higher Monday, giving the S&P 500 its biggest increase since late January.
March 11, 2019, at 5:11 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

A broadly rally led by technology companies drove U.S. stocks sharply higher Monday, giving the S&P 500 its biggest increase since late January.

The latest gains also snapped a five-day losing streak for the benchmark index, which was coming off its worst weekly stumble this year.

Nvidia was the S&P 500's strongest performer after agreeing to buy chipmaker Mellanox. Apple benefited from an analyst upgrade. A sharp decline in Boeing stemmed the gain for the Dow Jones Industrial Average.

Investors drew encouragement from a report showing a slight increase in U.S. retail sales for January after a steep decline in December, and from new data showing a rebound in Chinese exports this month, said Tom Martin, senior portfolio manager with Globalt Investments.

"The data that's coming in today is at the margin at least OK; there's no negative news," Martin said. "People want to be in the market. Rates are low. Stocks are OK."

The S&P 500 gained 40.23 points, or 1.5 percent, to 2,783.30. The Dow rose 200.64 points, or 0.8 percent, to 25,650.88. The average bounced back after declining 242 points as shares in Boeing slumped.

The Nasdaq composite, which is heavily weighted with technology stocks, jumped 149.92 points, or 2 percent, to 7,558.06. The Russell 2000 index of smaller companies picked up 26.99 points, or 1.8 percent, to 1,548.88.

Major European stock indexes finished higher.

Monday's gains helped the market reclaim the momentum it had in January and February, when it posted the best two-month start to a year since 1991. Despite stocks posting their worst week since December last week, the S&P 500 and Nasdaq are showing double-digits gains for the year so far, and the Dow is just shy of a 10 percent increase.

Investors are still waiting for more details on any potential trade deal between the U.S. and China. Costly tariffs have hurt both nations and investors hope a deal can be struck to at least take some pressure off the global economy, which has shown signs of cooling off.

"Last week was a little bit of a breather and investors said, 'Well, maybe we overreacted a little bit,'" said Karyn Cavanaugh, senior markets strategist at Voya Investment Management. "We have good economic data, earnings should be pretty solid, and the Fed is on hold. We potentially have progress going on with China. So overall, things are pretty good and stocks are the place to be."

Technology sector stocks drove Monday's rally, with chipmakers leading the way.

Nvidia jumped 7 percent after the chipmaker said it will buy network transmission company Mellanox for $6.9 billion in cash.

The companies are frequent collaborators and said that together they help to power more than 250 of the world's 500 supercomputers, including Sierra and Summit, operated by the U.S. Department of Energy.

Apple gained 3.5 percent after receiving an analyst upgrade.

Boeing's stock slumped 5.3 percent following the second deadly crash involving the newest version of the aircraft maker's popular 737.

An Ethiopian Airlines jetliner went down Sunday, killing 157 people. Back in October, another 737 Max 8 crashed in Indonesia, killing 189 people. Authorities in Ethiopia, China and Indonesia have grounded all Boeing 737 Max 8 aircraft.

Boeing's stock had been soaring. On Monday, shares slid more than 13 percent at one point. It was the only stock in the Dow to close with a loss. Despite Boeing's decline, the industrial sector managed to post a gain.

Gains in health care stocks also helped drive the market higher. Align Technology rose 5.4 percent.

Social media companies also notched gains. Facebook added 1.5 percent and Twitter picked up 2.8 percent.

Germany's Deutsche Bank rose 5 percent following reports that it agreed to hold merger talks with rival Commerzbank.

Benchmark U.S. crude climbed 1.3 percent to settle at $56.79 per barrel. Brent crude, the international standard, rose 1.3 percent to close at $66.58 per barrel.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.64 percent from 2.62 percent late Friday.

The dollar strengthened to 111.21 Japanese yen from 111.07 yen late Friday. The euro fell to $1.1240 from $1.1242.

Gold dropped 0.6 percent to $1,291.10 an ounce. Silver lost 0.5 percent to $15.27 an ounce. Copper added 0.3 percent to $2.90 a pound.

In other energy futures trading, wholesale gasoline gained 1.3 percent to $1.83 a gallon. Heating oil dropped 0.3 percent to $1.99 a gallon. Natural gas slid 3.2 percent to $2.77 per 1,000 cubic feet.


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## Ann

The Dow had a lovely bounce off the 200dsma as did the S&P 500


----------



## bigdog

Technology and health care companies led U.S. stock indexes mostly higher Tuesday, building on the market's solid gains from a day earlier.

Boeing weighed down the Dow Jones Industrial Average for a second day as shares in the aircraft maker fell amid safety concerns following another deadly crash involving its most popular plane. The company led a slide in industrial sector stocks.










https://www.usnews.com/news/busines...ollow-wall-street-higher-ahead-of-brexit-vote

*US Stock Indexes End Mostly Higher, Extending Market's Gains*
Technology and health care companies led U.S. stock indexes mostly higher Tuesday, building on the market's solid gains from a day earlier.
March 12, 2019, at 5:04 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Technology and health care companies led U.S. stock indexes mostly higher Tuesday, building on the market's solid gains from a day earlier.

Boeing weighed down the Dow Jones Industrial Average for a second day as shares in the aircraft maker fell amid safety concerns following another deadly crash involving its most popular plane. The company led a slide in industrial sector stocks.

A report showing that U.S. consumer prices rose modestly last month — the latest evidence that inflation remains in check — also helped lift stocks.

The latest gains extend a rebound in stocks this week after the market ended last week with its worst week since December.

"It just goes to show that investors are taking advantage of the pullback we had last week," said Lindsey Bell, investment strategist at CFRA. "What's notable in the last couple of days is the move you're seeing in the Nasdaq. You're starting to see that return to growth in the market right now."

The benchmark S&P 500 index gained 8.22 points, or 0.3 percent, to 2,791.52. The Dow fell 96.22 points, or 0.4 percent, to 25,554.66.

The Nasdaq composite, which is heavily weighted with technology stocks, climbed 32.97 points, or 0.4 percent, to 7,591.03. The Russell 2000 index of smaller companies picked up 0.96 points, or 0.1 percent, to 1,549.83.

Major European stock indexes finished mostly higher before Britain's Parliament voted to reject a deal for the U.K. to exit from the European Union. The move plunges the Brexit process into chaos just 17 days before Britain is due to leave the bloc.

Traders appeared to mostly shrug off the developments in Britain, though U.S. indexes lost some of their gains toward the end of the day as the Brexit vote was being held.

The two-day rally has helped the market reclaim the momentum it had in January and February, when it posted the best two-month start to a year since 1991. The S&P 500 and Nasdaq are showing double-digits gains for the year so far, and the Dow is up by more than 9 percent.

Investors are still waiting for more details on any potential trade deal between the U.S. and China. Costly tariffs have hurt both nations and investors hope a deal can be struck to at least take some pressure off the global economy, which has shown signs of cooling off.

"We're just in this weird period where earnings just ended, we're waiting to see what happens with Brexit, waiting for a resolution from China and the trade situation there," Bell said. "We're in wait-and-see mode."

Technology and health care stocks did the most to push the market higher Tuesday. Apple and UnitedHealth each rose 1.1 percent.

Boeing shares slid 6.1 percent, the stock's second day of steep losses, as more countries grounded the aircraft manufacturer's 737 Max 8 following the crash of the Ethiopian Airlines 737 Max 8 on Sunday, which killed 157 people. A similar Lion Air plane crashed in Indonesia in October, killing 189 people.

Britain joined a growing number of countries to ground the plane. Australia and Singapore suspended all flights into or out of their countries. Airlines in China and Indonesia, Aeromexico, Brazil's Gol Airlines, India's Jet Airways and others have done the same.

The Labor Department's latest snapshot of consumer prices also put investors in a buying mood. The consumer price index rose a modest 1.5 percent last month from a year ago. The small increase is the latest evidence that inflation remains muted, which gives the Federal Reserve more flexibility in holding off on further interest rate increases, said Eric Wiegand, senior portfolio manager for Private Wealth Management at U.S. Bank.

"The markets are reflecting a more favorable interpretation of the shift in central bank policies," he said. "They're creating more of a favorable backdrop."

Traders bid up shares in Stitch Fix after the personal styling service blew past analyst's expectations for the fourth-quarter. The stock vaulted 25.2 percent.

Dick's Sporting Goods' plunged 11 percent after the company reported a slide in sales during the fourth quarter and a weak forecast. A key sales figure fell 2.2 percent in the period, worse than what analysts were expecting.

Marijuana stocks rose after New Jersey Gov. Phil Murphy and legislative leaders said they've agreed on legislation to legalize recreational marijuana for adults. The agreement comes after more than a year of negotiations.

Tilray gained 3.1 percent, while Canopy Growth added 1.4 percent.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.61 percent from 2.64 percent late Monday.

The dollar strengthened to 111.29 Japanese yen from 111.21 yen on Monday. The euro rose to $1.1297 from $1.1240.

The price of U.S. crude oil rose 8 cents to $56.87 a barrel, while Brent crude rose 9 cents to $66.67 a barrel. Wholesale gasoline fell 1 cent to $1.82 a gallon, heating oil fell less than 1 cent to $1.99 a gallon and natural gas rose 1 cent to $2.78 per 1,000 cubic feet.

The price of gold rose 7 cents to $1,291.10 an ounce, silver rose 14 cents to $15.41 an ounce and copper rose 3 cents to $2.93 a pound.


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## bigdog

Health care and technology companies powered stocks broadly higher on Wall Street Wednesday, giving the market its third straight gain.

Boeing briefly dipped, but finished slightly higher, after the U.S. said it was joining other countries in grounding the company's 737 Max 8 airplane following a fatal crash of an Ethiopian airliner over the weekend.










https://www.usnews.com/news/busines...xes-end-mostly-higher-extending-markets-gains

*Health, Tech Companies Lead US Stocks to 3rd Straight Gain*
Health care and technology companies powered stocks broadly higher on Wall Street Wednesday, giving the market its third straight gain.
March 13, 2019, at 5:09 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Health care and technology companies powered stocks broadly higher on Wall Street Wednesday, giving the market its third straight gain.

Boeing briefly dipped, but finished slightly higher, after the U.S. said it was joining other countries in grounding the company's 737 Max 8 airplane following a fatal crash of an Ethiopian airliner over the weekend.

The S&P 500 has now clawed back all its losses from last week, when the benchmark index posted its worst week since December.

The market has rebounded this week even though the costly trade dispute between the U.S. and China has yet to be resolved and the outlook for corporate earnings growth has dimmed this year.

A batch of economic reports helped drive the latest rally, giving investors more reason to have an upbeat view of the economy. Oil prices rose after new government data showed lower-than expected stockpiles.

"I'm still scratching my head to find out what kind of an upside catalyst we've actually gotten, other than just maybe an aggregate of relatively positive economic reports that individually aren't enough to move the market," said Randy Frederick, vice president of trading & derivatives at Charles Schwab. "Frankly, this rally has been much stronger than even that would explain, so I'm a bit puzzled by it."

The S&P 500 gained 19.40 points, or 0.7 percent, to 2,810.92. The Dow Jones Industrial Average rose 148.23 points, or 0.6 percent, to 25,702.89.

The Nasdaq composite climbed 52.37 points, or 0.7 percent, to 7,643.41. The Russell 2000 index of smaller companies picked up 6.05 points, or 0.4 percent, to 1,555.88.

Major stock indexes in Europe also finished higher.

The three-day rally has helped the market reclaim the momentum it had in January and February, when it posted the best two-month start to a year since 1991. The S&P 500, Nasdaq, Dow and Russell 2000 are showing double-digit gains for the year so far.

Still, investors are still waiting for more details on any potential trade deal between the U.S. and China. Costly tariffs have hurt both nations and investors hope a deal can be struck to at least take some pressure off the global economy, which has shown signs of cooling off.

Traders drew encouragement from several economic reports Wednesday.

U.S. wholesale prices barely increased last month after falling for three straight months, a sign there is little inflation pressure in the economy. A report on orders to U.S. factories showed that business investment rose 0.8 percent after two months of declines, marking the biggest gain since a 1.5 percent July bump.

A burst of late-afternoon buying reversed a slide in Boeing shares. The stock briefly headed lower after the U.S. moved to temporarily ground all the aircraft manufacturer's 737 Max 8 and Max 9 airplanes in the wake of Sunday's deadly crash of an Ethiopian Airlines 737 Max 8, which killed 157 people. A similar Lion Air plane crashed in Indonesia in October, killing 189 people.

Boeing shares finished with a 0.5 percent gain. The stock slumped more than 11 percent the first two days of this week. Despite the recent slide, the stock is still up 16.9 percent for the year.

Health care sector stocks notched the biggest gain Tuesday.

Rite Aid jumped 6.1 percent after the drugstore chain announced a purge of its top management and plans to cut 400 full-time jobs. CEO John Stanley will step down when the company finds a replacement. Chief Financial Officer Darren Kast and Chief Operating Officer Kermit Crawford are also among the executives leaving the company.

Chipmaker Nvidia added 3.8 percent, leading technology sector stocks higher. Synchrony Financial gained 2.2 percent amid a broad financial sector rally.

Investors bid up shares in Canadian marijuana company Aurora Cannabis after it tapped hedge fund manager Nelson Peltz as an adviser. Peltz is the CEO and a founding partner of Trian Fund Management. Aurora said he will help the company explore potential partnerships and advise its global expansion plans. The stock jumped 13 percent.

Oaktree Capital Group surged 12.3 percent on news that Brookfield Asset Management is buying 62 percent of the company. The deal creates a combined company with $475 billion assets and $2.5 billion in annual fee-related revenue, the companies said. The deal includes options that could have Brookfield owning all of Oaktree by 2029.

Vera Bradley surged 21.8 percent after beating Wall Street forecasts for the fourth quarter and giving analysts a surprisingly good outlook for the year.

The maker of luggage and handbags reported lower sales during the quarter, but the results still topped forecasts. Both revenue and profit forecasts for the current fiscal push beyond Wall Street expectations.

Express skidded 10.1 percent after the clothing chain reported weak fourth-quarter sales and gave investors a disappointing first-quarter outlook.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.62 percent from 2.60 percent late Tuesday.

The dollar fell to 111.05 Japanese yen from 111.29 yen on Tuesday. The euro rose to $1.1329 from $1.1297.

The price of U.S. crude oil climbed 2.4 percent to settle at $58.26 a barrel, while Brent crude gained 1.3 percent to close at $67.55 a barrel. Wholesale gasoline added 2.3 percent to $1.86 a gallon, heating oil rose 0.3 percent to $1.99 a gallon and natural gas picked up 1.3 percent to $2.82 per 1,000 cubic feet.

The price of gold rose 0.9 percent to $1,309.30 an ounce, silver added 0.3 percent to $15.46 an ounce and copper gained 0.2 percent to $2.94 a pound.


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## bigdog

U.S. stocks indexes barely budged Thursday as the market's three-day winning streak stalled.

The benchmark S&P 500 index finished essentially flat as losses in communications, industrial and health care stocks outweighed gains in financial and technology companies. Several retailers and homebuilders also declined.










https://www.usnews.com/news/busines...xed-after-chinese-industrial-data-disappoints

*US Stock Indexes End Mostly Lower, End 3-Day Winning Streak*
U.S. stocks indexes barely budged Thursday as the market's three-day winning streak stalled.
March 14, 2019, at 4:56 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

U.S. stocks indexes barely budged Thursday as the market's three-day winning streak stalled.

The benchmark S&P 500 index finished essentially flat as losses in communications, industrial and health care stocks outweighed gains in financial and technology companies. Several retailers and homebuilders also declined.

Reports of a criminal investigation into Facebook's data-sharing practices weighed on the social media giant's shares.

The market was coming off a solid three-day rally as it reclaimed some of the momentum it had in January and February.

Investors are still waiting for some more news on U.S.-China trade negotiations before they feel comfortable pushing the market much higher. Media reports had stoked hope that a summit would take place this month, but no concrete announcement has been made.

Despite some softness over the last few weeks, U.S. stocks are still considered a safe haven relative to the rest of the world, said Scott Wren, senior global equity strategist for Wells Fargo Investment Institute.

"We're still the lead sled dogs here, we're pulling the global economy along," he said.

The S&P 500 index slipped 2.44 points, or 0.1 percent, to 2,808.48. The Dow Jones Industrial Average inched up 7.05 points, or 0.03 percent, to 25,709.94.

The Nasdaq composite dropped 12.50 points, or 0.2 percent, to 7,630.91. The Russell 2000 index of smaller companies gave up 6.25 points, or 0.4 percent, to 1,549.63.

Major indexes in Europe finished higher.

The S&P 500, Nasdaq, Dow and Russell 2000 are showing double-digit gains for the year so far.

Still, investors spent Thursday in a wait-and-see mode, keeping a close watch on global trade issues and continuing to mostly brush off the chaos surrounding Britain's exit from the European Union, its key trading bloc.

The S&P 500 has been holding within 2,750 and 2,850 points the past couple of weeks and isn't likely to break out of that range until there's a major change in the trade talks, Federal Reserve policy or other another major market-moving development, said Ioana Martin, global investment specialist, J.P. Morgan Private Bank.

"Unless we have any additional catalysts or any meaningful change in communication from the Fed or from the trade front, it's difficult to see how we could break outside of that range," Martin said.

Take-Two Interactive Software led the slide in communications companies. The stock slid 3.8 percent.

Facebook fell 1.8 percent after the New York Times reported that its data-sharing practices are now under criminal investigation.

The investigation into how it sells data is the latest in a list of privacy scandals the social media company faces. Its privacy practices have already been scrutinized by The Federal Trade Commission. The company and its CEO have also faced Congressional inquiries.

Boeing fell 1 percent. The stock has slumped throughout the week as nations and airlines ground its newest 737s over safety concerns. A second deadly crash over the weekend involving its 737 Max 8 and safety concerns stunted the company's stock gains.

Retailers were among the big decliners Thursday.

Tailored Brands, which owns Men's Wearhouse, plunged 25.1 percent after giving investors a surprisingly weak first-quarter profit forecast. The company has been trying to increase sales at both Men's Wearhouse and its Jos. A. Bank stores, but is facing a tougher retail market.

Shares in other apparel retailers also fell. L Brands dropped 3.1 percent, while Gap gave up 1.8 percent.

Dollar General slid 7.5 percent after the company's fourth-quarter profit fell short of Wall Street forecasts. The discount-store operator also gave investors a weak full-year profit forecast.

Rival discount chain Dollar Tree dropped 1.9 percent.

The Commerce Department said sales of new U.S. homes slumped 6.9 percent in January, a possible sign that would-be buyers paused during the government shutdown even as mortgage rates continued to decline. The report also showed sales prices declined 3.8 percent. Homebuilder stocks were mostly trading lower following the report. Hovnanian Enterprises dropped 2.5 percent.

Technology companies and banks led the gainers. Apple rose 1.1 percent and Wells Fargo added 0.9 percent.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.63 percent from 2.61 percent late Wednesday.

The dollar strengthened to 111.73 Japanese yen from 111.05 yen on Wednesday. The euro fell to $1.1300 from $1.1329.

The price of U.S. crude oil rose 0.6 percent to settle at $58.61 a barrel, while Brent crude dropped 0.5 percent to close at $67.23 a barrel. Wholesale gasoline declined 0.4 percent to $1.85 a gallon, heating oil slid 0.4 percent to $1.98 a gallon and natural gas picked up 1.2 percent to $2.86 per 1,000 cubic feet.

The price of gold fell 1.1 percent to $1,295.10 an ounce, silver dropped 1.8 percent to $15.17 an ounce and copper lost 1.5 percent to $2.89 a pound.


----------



## bigdog

The S&P 500 rose to a new high for the year Friday as resurgent technology stocks closed out their best week in four months with solid gains.










https://www.usnews.com/news/busines...rug-off-wall-st-losses-as-china-ends-congress

*Tech Companies Power US Stocks to Solid Weekly Gain*
Wall Street finished the week with solid gains Friday as technology stocks notched their best week in four months.
March 15, 2019, at 5:43 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

The S&P 500 rose to a new high for the year Friday as resurgent technology stocks closed out their best week in four months with solid gains.

Financial, health care and consumer stocks also helped lift the market. The gains erased losses from last week, when the S&P 500 had its worst week of the year. The benchmark index finished at 2,822.48, up 12.6 percent for the year and down 4 percent from the record level set in September.

Technology stocks had their best week since November. Apple ended the week with a 7.6 percent gain, its best week since August. Industrial stocks lagged the market Friday.

Investors bought bonds after a report on industrial production showed a second consecutive monthly decline in manufacturing in the U.S. That sent the yield on the 10-year Treasury lower. It fell to 2.59 percent from 2.63 late Thursday.

Despite the latest gains, global political turmoil, particularly over trade, still weighs on investors, said Katie Nixon, chief investment officer at Northern Trust Wealth Management.

"There's so much importance placed on these geopolitical risks," Nixon said. "They have to be resolved for the market to go forward."

The Dow Jones Industrial Average rose 138.93 points, or 0.5 percent, to 25,848.87. The Nasdaq composite climbed 57.62 points, or 0.8 percent, to 7,688.53. The S&P 500's gain was 14 points, or 0.5 percent.

The Russell 2000 index of smaller companies picked up 3.90 points, or 0.3 percent, to 1,553.54.

Major indexes in Europe and Asia finished higher.

U.S. stocks have had a strong showing this year, with all the major indexes showing a gain of at least 10 percent.

Investors appear to be encouraged by reports that the U.S. and China could be making progress on critical negotiations aimed at resolving a trade war between the world's two biggest economies. China's congress endorsed an investment law that aims to address complaints, particularly from the U.S., that China's system is rigged against foreign companies. The U.S. claims China has forced companies to share technology in order to do business in the country.

Traders are also confident that the Federal Reserve will hold off on any action that could jeopardize economic growth. The central bank, which signaled in January that it was hitting pause on its rate hikes amid a slowdown in global growth and the absence of inflation pressures, is holding a meeting of policymakers next week.

Economists expect the Fed will keep rates on hold. Friday's surge in bond purchases also indicates that investors don't foresee the Fed raising interest rates any time soon.

"There's no chance of a rate hike," said Willie Delwiche, investment strategist at Baird.

Chipmakers made up six of the top 10 gainers in the S&P 500 Friday.

Broadcom led the technology sector rally after the chip provider reported a better-than-expected rise in fourth-quarter profit and told investors that it would return $12 billion to stockholders in 2019 through dividends and buybacks. The stock jumped 8.2 percent.

CEO Hock E. Tan expects the chip business to hit a low in the second quarter and then notch growth during the second half of the year. That assessment helped give other chipmakers a lift. Intel added 1.7 percent and Nvidia gained 2.6 percent.

Health care, financial and consumer stocks also notched solid gains. Biogen added 2.6 percent, Morgan Stanley rose 1.5 percent, and Amazon gained 1.6 percent.

Investors also bid up shares in Ulta Beauty after the cosmetics retailer's latest quarterly results topped Wall Street's forecasts. The stock jumped 8.3 percent.

Facebook dropped 2.5 percent on news that two of the social media company's longtime executives are resigning following the company's recent announcement that it will shift its emphasis to private messaging from public sharing.

Shares in Tesla skidded 5 percent following the electric car maker's unveiling of its Model Y, a mid-size SUV that starts at $39,000. The unveiling comes as Tesla tries to expand into the mainstream and cash in on the red-hot market for SUVs.

Boeing shares recovered from an early slide to gain 1.5 percent after a report suggested the aircraft manufacturer will roll out a software fix for its 737 Max airplanes later this month.

The stock has been hammered this week after a 737 Max flown by Ethiopian Airlines crashed Sunday in Ethiopia, killing all 157 people on board. A similar Boeing flown by Lion Air crashed in Indonesia in October, killing 189 people. The U.S. and other countries have since grounded the Boeing 737 Max 8.

Shares in Boeing fell 10.3 percent this week. The stock is still up 14.9 percent for the year.

The dollar fell to 111.48 Japanese yen from 111.73 yen on Thursday. The euro strengthened to $1.1320 from $1.1300.

The price of U.S. crude oil slipped 0.2 percent to settle at $58.52 a barrel, while Brent crude dropped 0.1 percent to close at $67.16 a barrel. Wholesale gasoline rose 0.4 percent to $1.86 a gallon, heating oil slid 0.9 percent to $1.97 a gallon and natural gas gave up 2.1 percent to $2.80 per 1,000 cubic feet.

Gold rose 0.6 percent to $1,302.90 an ounce, silver gained 1 percent to $15.32 an ounce and copper added 0.5 percent to $2.91 a pound.

5193


----------



## bigdog

U.S. stock indexes finished modestly higher Monday, extending the market's solid gains from a rally last week.

Energy companies notched the biggest gains after the price of U.S. crude oil closed above $59 a barrel for the first time since November. Smaller company stocks fared better than the rest of the market.










https://www.usnews.com/news/busines...vance-as-investors-watch-us-china-trade-talks

*Energy Companies Lead Modest Gains for US Stock Indexes*
U.S. stock indexes finished modestly higher Monday, extending the market's solid gains from a rally last week.
March 18, 2019, at 5:03 p.m. 

By STAN CHOE and ALEX VEIGA, AP Business Writers

U.S. stock indexes finished modestly higher Monday, extending the market's solid gains from a rally last week.

Energy companies notched the biggest gains after the price of U.S. crude oil closed above $59 a barrel for the first time since November. Smaller company stocks fared better than the rest of the market.

Financial, consumer goods and technology stocks accounted for much of the gains. Goldman Sachs rose 2.1 percent, Advance Auto Parts climbed 4.4 percent and Microsoft added 1.4 percent.

Those gains outweighed losses in communications and health care sector companies. Facebook slid 3.3 percent and Boston Scientific dropped 5.6 percent.

Stocks were riding the momentum from last week, when the S&P 500 resumed its torrid start to the year following a brief, five-day stumble. The index is back to within 3.5 percent of its record high, set in September, after clawing back all of its terrifying drop from December.

The market's latest gains come as investors wait for a resolution of the costly trade war between the U.S. and China. After several weeks of negotiations, it's not clear how close the two sides are to an agreement. A meeting between President Donald Trump and Chinese leader Xi Jinping to formalize a deal might be pushed back to June, according to some news reports.

Traders were also looking ahead to the Federal Reserve's next interest rate policy update on Wednesday.

"In many ways, the market is in limbo," said Sam Stovall, chief investment strategist at CFRA. "And in the meantime, (investors) are waiting for some sort of agreement on the trade talks as well as the Fed."

The S&P 500 gained 10.46 points, or 0.4 percent, to 2,832.94. The benchmark index is now up 13 percent for 2019 so far, which is a bigger gain than it's had in four of the last five full years.

The Dow Jones Industrial Average rose 65.23 points, or 0.3 percent, to 25,914.10.

The Nasdaq composite added 25.95 points, or 0.3 percent, to 7,714.48. The Russell 2000 index of smaller-company stocks picked up 10.39 points, or 0.7 percent, to 1,563.93.

Major stock indexes in Europe finished mostly higher.

U.S. stocks have had a strong showing this year, with all the major indexes showing a gain of at least 11 percent.

One key to the recent rally has been the belief that the Federal Reserve will slow its pace of increases for interest rates. The worry in December was that the central bank would raise rates too fast in the face of a slowing global economy and choke off growth. The Fed will meet to discuss interest-rate policy this week, with an announcement scheduled for Wednesday, but economists expect it to announce no change to rates.

"The expectations are that the Fed won't do anything in the first half of the year," Stovall said.

Some economists say the Fed could release documents Wednesday that would suggest one rate increase in 2019, or possibly zero, after the Fed raised rates four times in 2018 and three times in 2017.

Perhaps more important is what the Fed says about its vast trove of bonds. The central bank bought trillions of dollars of bonds after the 2008 financial crisis to keep interest rates low and support markets, but it's been slowly letting some roll off as they mature. Investors want to know how much the Fed will ultimately hold onto, and how long it will take to get there.

Monday's upward swing in oil prices came after OPEC canceled a meeting that had been scheduled for next month. The move means that a production cut imposed by the oil cartel in January remains in place, at least until the cartel agrees to meet again.

Benchmark U.S. crude oil rose 1 percent to settle at $59.09 a barrel, while Brent crude gained 0.6 percent to close at $67.54 a barrel.

Energy stocks got a boost from the pickup in oil prices. National Oilwell Varco jumped 6.2 percent, Halliburton gained 3.2 percent and Marathon Petroleum rose 2.7 percent.

Investors also bid up shares in Worldpay after Fidelity National Information Services agreed to buy the payment processor for about $35 billion in stock and cash. Including Worldpay's debt, Fidelity National valued the deal at $43 billion.

Worldpay's U.S.-listed shares jumped 10 percent. Fidelity National, also called FIS, slipped 0.7 percent.

Edwards Lifesciences vaulted 6.2 percent for the biggest gain in the S&P 500 after it said patients in a trial using an expandable valve had better results than those who had standard open-heart surgery.

Boeing fell further as the investigation continues into two recent deadly crashes of its 737 Max 8 plane model. Preliminary information shows clear similarities between the two. The stock declined 1.8 percent, following its 10.3 percent loss last week.

Bond prices fell. The yield on the 10-year Treasury rose to 2.61 percent from 2.59 late Friday.

The dollar fell to 111.41 Japanese yen from 111.48 yen on Friday. The euro strengthened to $1.1338 from $1.1320.

Gold fell 0.1 percent to $1,301.50 an ounce, silver was little changed at $15.32 an ounce and copper added 0.1 percent to $2.91 a pound.

In other energy futures trading, wholesale gasoline climbed 1.4 percent to $1.88 a gallon, heating oil added 0.1 percent to $1.97 a gallon and natural gas picked up 2 percent to $2.85 per 1,000 cubic feet.


----------



## bigdog

U.S. stock indexes closed mostly lower Tuesday after a late-afternoon splash of selling erased early gains, ending a weeklong rally.

Banks accounted for much of the decline, along with utilities and industrial companies. Those losses offset gains in health care, technology and consumer products stocks.










https://www.usnews.com/news/busines...ixed-in-muted-trading-ahead-of-us-fed-meeting

*US Stocks Give up an Early Rally, Ending Winning Streak*
U.S. stock indexes closed mostly lower Tuesday after a late-afternoon splash of selling erased early gains, ending a weeklong rally.
March 19, 2019, at 5:03 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

U.S. stock indexes closed mostly lower Tuesday after a late-afternoon splash of selling erased early gains, ending a weeklong rally.

Banks accounted for much of the decline, along with utilities and industrial companies. Those losses offset gains in health care, technology and consumer products stocks.

The benchmark S&P 500 ended barely lower, its second loss over the past seven trading days. It's still up 13 percent so far in 2019.

Investors were looking ahead to what the Federal Reserve will say Wednesday following a two-day meeting of policymakers. The central bank has signaled that it will be "patient" in raising interest rates.

Investors seem reassured that the Fed will continue to hold off on raising rates, and that's given them more confidence to push the market higher this year.

"Typically, markets tend to be flat in front of the Fed, usually we're in a wait-and-see mode," said Kate Warne, investment strategist at Edward Jones.

The S&P 500 index slipped 0.37 points, or 0.01 percent, to 2,832.57. The Dow Jones Industrial Average dropped 26.72 points, or 0.1 percent, to 25,887.38.

The Nasdaq composite gained 9.47 points, or 0.1 percent, to 7,723.95. The Russell 2000 index of smaller-company stocks gave up 8.95 points, or 0.6 percent, to 1,554.99.

More stocks fell than rose on the New York Stock Exchange. Major indexes in Europe finished higher.

The broader market broke out of a short slump last week and has been gaining since then. It marks a turnaround from a terrifying drop in December, and now every major U.S. index is up more than 10 percent for the year.

What the Fed does next will surely have an impact on the market's trajectory.

The central bank is expected to leave its key short-term interest rate unchanged Wednesday and to stress its new watchword — "patient"— in conveying its intention to leave rates alone for the foreseeable future.

The Fed has made clear that with a dimmer economic picture in both the United States and globally, it no longer sees the need to keep raising rates as it did four times in 2018. Among the key factors, besides slower growth, are President Donald Trump's trade war with China, continually low inflation levels and Prime Minister Theresa May's struggle to execute Britain's exit from the European Union.

Signs of a modest economic slowdown, such as a weak factory orders report on Tuesday, may help keep the Fed patient and on hold for a longer amount of time, said Warne.

"It's a slightly bad-news-is-good-news situation," she said.

There has also been an absence of sharp bad news surprises, she said, which has given investors confidence that there is less volatility than previously feared.

Financial, utilities and industrial stocks weighed the most on the market Tuesday. Fifth Third Bancorp dropped 3.3 percent, FirstEnergy slid 2 percent and railroad operator Union Pacific lost 3.3 percent.

Companies that reported disappointing quarterly results also fell.

DSW dropped 12.9 percent after the footwear retailer surprised investors with a loss during the fourth quarter. The company swung to a loss of 7 cents per share, while Wall Street anticipated 4 cents per share in profit. Expenses jumped during the quarter and DSW had to deal with a hefty charge.

Tilray slid 3.4 percent after the medical cannabis company reported a wider loss for the fourth-quarter than Wall Street analysts expected.

Health care stocks, technology companies and retailers notched some of the biggest gains Tuesday.

DaVita led the health sector higher, climbing 3.5 percent. Cigna added 3.4 percent. Chipmakers also posted solid gains. Advanced Micro Devices vaulted 11.8 percent and Nvidia climbed 4 percent. Retailer L Brands added 2.7 percent.

Traders bid up shares in Michaels, rewarding a better-than-expected fourth quarter and overlooking a weak forecast. The arts and crafts retailer has been reassessing its operations, moving to expand its children's offerings and shuttering its Pat Catan craft stores.

The company also changed leadership earlier this month, with CEO Chuck Rubin stepping down and longtime retail executive Mark Cosby taking over as interim CEO. The stock jumped 10 percent.

Bond prices fell. The yield on the 10-year Treasury rose to 2.62 percent from 2.60 late Monday.

The dollar held steady at 111.41 Japanese yen. The euro strengthened to $1.1352 from $1.1338 on Monday.

Benchmark U.S. crude oil slipped 0.1 percent to settle at $59.03 a barrel, while Brent crude gained 0.1 percent to close at $67.61 a barrel.

Wholesale gasoline climbed 0.5 percent to $1.89 a gallon, heating oil added 1.1 percent to $1.99 a gallon and natural gas picked up 0.8 percent to $2.87 per 1,000 cubic feet.

Gold rose 0.4 percent to $1,306.50 an ounce, silver added 0.3 percent to $15.37 an ounce and copper picked up 0.5 percent to $2.92 a pound.


----------



## bigdog

Banks led U.S. stocks mostly lower Wednesday after a brief rally sparked by the Federal Reserve's latest policy update faded. The real action centered in the bond market, where prices rose sharply, pulling Treasury yields down to the lowest levels they've seen in more than a year.

The central bank said it has ruled out interest rate increases this year and issued a dimmer outlook on the U.S. economy.










https://www.usnews.com/news/busines...n-markets-trend-lower-tracking-wall-st-losses

*Fed News Sends Bond Yields Sharply Lower; US Stocks Mixed*
Banks led U.S. stocks mostly lower Wednesday after a brief rally sparked by the Federal Reserve's latest policy update faded. Bond prices rose sharply, pulling Treasury yields down to the lowest levels in more than a year.
March 20, 2019, at 5:07 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Banks led U.S. stocks mostly lower Wednesday after a brief rally sparked by the Federal Reserve's latest policy update faded. The real action centered in the bond market, where prices rose sharply, pulling Treasury yields down to the lowest levels they've seen in more than a year.

The central bank said it has ruled out interest rate increases this year and issued a dimmer outlook on the U.S. economy.

That triggered one of the biggest slides for Treasury yields in months, knocking the 10-year Treasury yield as low as 2.53 percent, down from 2.61 percent late Tuesday and from 3.20 percent late last year. The two-year Treasury yield, which is more influenced by Fed movements, fell to 2.39 percent from 2.45 percent late Tuesday.

Yields have been falling steadily since November, as worries rose about a slowing global economy and traders subsequently made moves in anticipation of a more patient Fed.

The Fed's decision not to raise rates in 2019 is a marked change from three months ago, when the central bank projected two rate hikes in 2019. The move comes as Fed officials project that the U.S. economy will grow more slowly this year and in 2020, a change from the panel's projections just three months ago.

The central bank also said it will stop shrinking its bond portfolio in September, a step that would help hold down long-term interest rates.

The Fed's announcement was clearly positive for the market, said Quincy Krosby, chief market strategist at Prudential Financial.

"Powell's suggestion that the Fed is on hold this year is important," she said. "The question for the market remains whether or not the four rate hikes from last year and the unwinding of the balance sheet at the same time could be continuing, even now, to tighten financial conditions."

The S&P 500 dropped 8.34 points, or 0.3 percent, to 2,824.23. The Dow Jones Industrial Average fell 141.71 points, or 0.5 percent, to 25,745.67. The average had been down more than 216 points earlier.

The Nasdaq composite eked out a slight gain, adding 5.02 points, or 0.1 percent, to 7,728.97. The Russell 2000 index of smaller-company stocks gave up 11.83 points, or 0.8 percent, to 1,543.16.

Major European indexes finished lower.

It was only last autumn that interest rates were on the rise and rattling investors, who worried that an overly aggressive Fed would keep raising rates and choke off growth in the face of a slowing global economy. The Fed increased rates four times last year and three times in 2017.

Besides encouraging more borrowing and economic growth, lower interest rates can make stocks look more attractive to investors, at least when compared with the lower amount of interest that bonds are paying.

On the losing end, though, are U.S. banks, whose profits can take a hit if the gap between short- and long-term interest rates narrows. Financial stocks in the S&P 500 fell 2.1 percent for the largest loss among the 11 sectors that make up the index.

KeyCorp slumped 5.3 percent, while Bank of America lost 3.4 percent.

Health care, industrial and technology stocks also took heavy losses. Humana dropped 4 percent, United Rentals fell 3.8 percent and Oracle shed 2.6 percent.

Communications and energy sector stocks notched solid gains. Netflix climbed 4.6 percent, while Noble Energy added 3.6 percent.

Developments in the trade talks between the U.S. and China helped pull the market lower earlier in the day.

President Donald Trump said if negotiations result in a deal, tariffs could stay in place for some time to ensure Beijing "lives by the deal." Trump added that the White House was discussing keeping tariffs for a "substantial period of time," adding that China has had "problems living by certain deals."

Administration officials are set to visit China for more negotiations late next week. Trump said the talks are "coming along nicely."

Wall Street is hoping for a resolution to the damaging trade war between the world's largest economies, which has made goods more costly for companies and consumers.

Despite Wednesday's downbeat finish, the market is still off to a roaring start to the year. The S&P 500 index is up 12.7 percent so far in 2019. That's better than the full-year gains for the benchmark index in four of the past five years.

News of tighter supplies of oil and continued production cuts helped to briefly push the price of benchmark U.S. crude oil above $60 a barrel. It hadn't closed above that price since November. It fell back slightly in afternoon trading, finishing with a gain of 1.4 percent to $59.83 a barrel.

The rise came after the U.S. government reported that supplies of oil fell 9.6 percent last week and news that OPEC plans on maintaining deep production cuts.

The price of oil has been increasing sharply since Christmas Eve, when it hit a low of just over $42 per barrel. That followed a 44 percent plunge since October 3, when it hit a high of just over $76 per barrel.

Brent crude gained 1.3 percent to close at $68.50 a barrel. Wholesale gasoline added 1.2 percent to $1.92 a gallon, heating oil rose 0.9 percent to $2.01 a gallon and natural gas fell 1.9 percent to $2.82 per 1,000 cubic feet.

The dollar fell to 110.61 yen from 111.41 Japanese yen on Tuesday. The euro strengthened to $1.1446 from $1.1352.


----------



## bigdog

Technology companies powered a broad rally for U.S. stocks Thursday, snapping the market's two-day losing streak.

Apple and chipmakers led the wave of buying, helping to drive the technology sector to an overall gain of 2.5 percent. The sector is up 21.1 percent this year so far, well ahead of the S&P 500's 10 other sectors.










https://www.usnews.com/news/busines...in-as-fed-says-it-will-hold-off-on-rate-hikes

*S&P 500 Ends 2-Day Losing Streak as Tech Leads Stocks Higher*
Technology companies powered a broad rally for U.S. stocks Thursday, snapping the market's two-day losing streak.
March 21, 2019, at 5:12 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Technology companies powered a broad rally for U.S. stocks Thursday, snapping the market's two-day losing streak.

Apple and chipmakers led the wave of buying, helping to drive the technology sector to an overall gain of 2.5 percent. The sector is up 21.1 percent this year so far, well ahead of the S&P 500's 10 other sectors.

Retailers and industrial companies also notched solid gains, which easily offset losses in financial stocks.

Levi Strauss soared as the storied jeans maker went public for the second time.

The latest gains erased the market's modest losses from a day earlier, when the Federal Reserve said it expected the U.S. economy to slow down and that it no longer expected to raise interest rates this year.

While investors appeared to be circumspect about the central bank's economic outlook, any concerns seemed to take a backseat Thursday to the likelihood that the Fed will hold off on raising interest rates.

"Overall, stocks are rallying because interest rates have gone down and we know that the Fed is going to continue to be the market's friend," said Karyn Cavanaugh, senior markets strategist at Voya Investment Management. "There's absolutely no reason not to be in stocks when you have an incredibly dovish Fed that is going to support asset prices."

The S&P 500 index rose 30.65 points, or 1.1 percent, to 2,854.88. The Dow Jones Industrial Average gained 216.84 points, or 0.8 percent, to 25,962.51

The Nasdaq composite, which his heavily weighted with technology stocks, climbed 109.99 points, or 1.4 percent, to 7,838.96. The Russell 2000 index of smaller-company stocks picked up 19.25 points, or 1.2 percent, to 1,562.41.

Major European stock indexes finished mostly lower.

Despite a couple of downbeat days, the S&P 500 is closing in on its second straight weekly gain. The benchmark index is up 13.9 percent so far in 2019. That's better than the full-year gains for the benchmark index in four of the past five years.

Thursday's rally came as investors weighed the latest batch of company earnings reports and some key analyst stock upgrades.

Apple climbed 3.7 percent after analysts at Needham & Co. upgraded the technology giant's stock to a strong "Buy," saying the company's new services initiatives could attract new users. The company has made several product announcements this week and has an event scheduled next Monday where presumably more announcements will be made.

Chipmakers gained after Micron Technology issued a strong outlook for the year. The company jumped 9.6 percent after the its forecasts for the fourth quarter topped Wall Street's estimates and said it expects the memory chip market to recover in the second half of the year.

The upbeat forecast helped lift some of its peers. Nvidia rose 5.5 percent and Advanced Micro Devices climbed 8.5 percent.

Olive Garden owner Darden Restaurants gained 6.9 percent after it reported earnings that were far better than analysts were expecting. Darden also raised its own profit forecast for the year.

Conagra Brands vaulted 12.8 percent after the packaged food company beat third-quarter profit forecasts on higher prices for some of its products.

Levi Strauss soared after its IPO hit the market for the second time the brand's 166-year history. The company previously went public in 1971, but the namesake founder's descendants took it private again in 1985.

The stock jumped 31.8 percent Thursday from its offering price of $17.

The strong demand for shares in Levi, which owns the Dockers and Denizen brands, is a good sign for other companies eyeing an IPO this year, said Erik Davidson, chief investment officer at Wells Fargo Private Bank.

"It does bode well, particularly since it's an IPO for a non-tech firm, it probably speaks well of the overall market conditions and investor sentiment," he said.

Traders were not as keen on rival clothing brand Guess. The company gave a disappointing fourth-quarter report and forecast, which sent its shares 12.5 percent lower.

Drugmaker Biogen also slumped on news that the company stopped a trial for an Alzheimer's drug. The biotechnology giant and its partner determined that the drug would likely be ineffective.

The company's shares plunged 29.2 percent as it lost more than $17 billion in market value.

Financial stocks finished broadly lower for the second straight day, hurt by the prospects for lower interest rates. Fifth Third Bankcorp led the slide, dropping 3.7 percent.

"Financials are lagging because interest rates are down, so the yield curve is not their friend right now," Cavanaugh said.

Banks slumped Wednesday after the Fed's outlook for interest rates this year triggered one of the biggest slides for Treasury yields in months.

Bond prices held steady Thursday. The yield on the 10-year Treasury note was unchanged at 2.53 percent.

Energy futures prices finished mixed. Benchmark U.S. crude slid 0.4 percent to settle at $59.98 a barrel. Brent crude fell 0.9 percent to close at $67.86 a barrel.

Wholesale gasoline added 0.2 percent to $1.92 a gallon, heating oil dropped 1 percent to $1.99 a gallon and natural gas was little changed at $2.82 per 1,000 cubic feet.

The dollar rose to 110.79 yen from 110.61 Japanese yen on Wednesday. The euro weakened to $1.1354 from $1.1446.

Gold gained 0.4 percent to $1,307.30 an ounce, silver added 0.8 percent to $15.44 an ounce and copper gave up 0.5 percent to $2.91 a pound.


----------



## bigdog

Wall Street was roiled Friday by new signs that global economic growth is slowing. The jitters triggered a sell-off in stocks and sent bond yields sharply lower, flashing a possible recession warning.

The wave of selling knocked 460 points off the Dow Jones Industrial Average and gave the benchmark S&P 500 index its worst day since Jan. 3. The Russell 2000 index of smaller company stocks fell more than the rest of the market as traders offloaded risker assets.










https://www.usnews.com/news/busines...ks-stumble-on-doubts-over-us-china-trade-deal

*Stocks, Bond Yields Fall Sharply as Growth Worries Spread*
New signs the global economic growth is slowing roiled Wall Street Friday, triggering a sell-off in stocks that erased the market's gains for the week.
March 22, 2019, at 5:31 p.m

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street was roiled Friday by new signs that global economic growth is slowing. The jitters triggered a sell-off in stocks and sent bond yields sharply lower, flashing a possible recession warning.

The wave of selling knocked 460 points off the Dow Jones Industrial Average and gave the benchmark S&P 500 index its worst day since Jan. 3. The Russell 2000 index of smaller company stocks fell more than the rest of the market as traders offloaded risker assets.

Worried investors shifted money into bonds, which sent yields much lower. The yield on the 10-year Treasury dropped to 2.43 percent from 2.54 percent late Thursday, a big move.

The slide in bond yields hurt bank stocks which, along with technology companies, accounted for much of the broad decline in stocks. The utilities sector was the only one to eke out a gain.

"What's really giving investors concern today is this weak global economic data here in the U.S. and in Europe," said Jeff Kravetz, regional investment director for U.S. Bank Wealth Management.

The market's skid runs counter to what has been a strong start to the year on Wall Street as stocks rebounded from a steep slide at the end of 2018. The bull market for U.S. stocks recently marked its 10th anniversary and is now the longest ever.

The fear that gripped investors Friday was fueled by a steadily dimming outlook for the global economy. China, the world's second-largest economy after the United States, is weakening. And other economies that depend heavily on purchases in China have suffered as a result.

Factory production in the euro currency alliance has fallen at its steepest rate in about six years. In Germany, Europe's largest economy, a survey of purchasing manager manufacturers posted its sharpest production drop in nearly six years. Orders to German factories have also tumbled.

In another worrying sign, the yield on the 10-year Treasury note fell Friday below the yield on the three-month Treasury bill. When that kind of "inversion" in bond yields occurs, economists fear that it can signal a recession within the coming year.

The S&P 500 index dropped 54.17 points, or 1.9 percent, to 2,800.71. The Dow gave up 460.19 points, or 1.8 percent, to 25,502.32.

The Nasdaq composite, which is heavily weighted with technology stocks, slid 196.29 points, or 2.5 percent, to 7,642.67. The Russell 2000 lost 56.49 points, or 3.6 percent, to 1,505.92.

European stocks also finished sharply lower Friday.

Despite wavering from gains to losses throughout the week, the S&P 500 index is still up more than 11 percent so far in 2019, which still counts as a blockbuster start to a year.

Key bond yields fell this week to their lowest levels in more than a year after the Federal Reserve said it was seeing slower growth in the economy and no longer expected to raise interest rates this year.

The yield on the benchmark 10-year Treasury note, which is used to set rates on mortgages and many other kinds of loans, is now sharply lower from its recent high of 3.23 percent in early October.

The prospects of slowing global economic growth has motivated investors to rebalance their holdings as they "digest the new reality," said Marina Severinovsky, investment strategist at Schroeders. "We're sort of coming back to Earth."

Central banks have been positioning themselves to deal with the slowdown, she said, and that includes the Federal Reserve's expectations for no rate increases this year.

Earlier this month the European Central Bank said it would push back the earliest date for interest rate increases. It also said it would offer ultra-cheap loans to banks, supporting their ability to keep lending.

"It's very positive that, not just the Fed, but other policy makers have acknowledged the situation is kind of dangerous on the global slowdown and are taking action," Severinovsky said.

The decline in bond yields threatened the profitability of banks because it forces them to charge lower interest rates on loans. Bank of America slid 4.2 percent.

Technology companies, which would stand to lose more than other sectors in a slowing economy, also took heavy losses. Western Digital gave up 6.5 percent.

Boeing dropped 2.8 percent after Indonesia's flag carrier became the first airline to seek to cancel an order of 737 Max 8 jets, which have been involved in two fatal crashes in the past six months.

Energy futures finished mostly lower. Benchmark U.S. crude oil slid 1.6 percent to settle at $59.04 a barrel. Brent crude fell 1.2 percent to close at $67.03 a barrel.

Wholesale gasoline added 0.3 percent to $1.32 a gallon, heating oil dropped 1.1 percent to $1.97 a gallon and natural gas fell 2.4 percent to $2.75 per 1,000 cubic feet.

Gold gained 0.4 percent to $1,312.30 an ounce, silver lost 0.2 percent to $15.41 an ounce and copper gave up 2.2 percent to $2.84 a pound.

The dollar fell to 110.07 yen from 110.79 Japanese yen on Thursday. The euro weakened to $1.1294 from $1.1354.

5498


----------



## bigdog

U.S. stocks capped a day of choppy trading with an uneven finish Monday as investors wrestled to make sense of newly pessimistic outlooks for the global economy.

Traders also weighed another troubling drop in long-term bond yields, which many see as a warning sign of a possible recession.










https://www.usnews.com/news/busines...-sink-tracking-fridays-retreat-on-wall-street

*US Stocks End Choppy Day Mixed Amid Global Growth Jitters*
U.S. stocks capped a day of choppy trading with an uneven finish Monday as investors wrestled to make sense of newly pessimistic outlooks for the global economy.
March 25, 2019, at 5:03 p.m.

By ALEX VEIGA, AP Business Writer

U.S. stocks capped a day of choppy trading with an uneven finish Monday as investors wrestled to make sense of newly pessimistic outlooks for the global economy.

Traders also weighed another troubling drop in long-term bond yields, which many see as a warning sign of a possible recession.

Large-company stocks ended broadly lower, led by drops in big technology companies. Apple fell 1.2 percent after announcing several new services including streaming video and news. Small-company stocks fared better.

The bout of volatile trading left the S&P 500 index slightly lower, extending the benchmark index's losses from a broad market sell-off last week.

"Today's moves are very reflective of very different interpretations of the environment and risks ahead," said Luke Tilley, chief economist at Wilmington Trust. "Different investors and different investment shops are interpreting the data very differently."

The S&P 500 dropped 2.35 points, or 0.1 percent, to 2,798.36.

The Dow Jones Industrial Average rose 14.51 points, or 0.1 percent, to 25,516.83. It was down as much as 130 and up as much as 100 earlier in the day.

The Nasdaq composite lost 5.13 points, or 0.1 percent, to 7,637.54. The Russell 2000 index of smaller company stocks picked up 6.94 points, or 0.5 percent, to 1,512.86.

Major European stock indexes finished lower as uncertainty over Brexit continued.

Despite the market's recent slide, the S&P 500 index is still up more than 11 percent so far in 2019, an unusually strong start to a year.

Stocks spent much of the morning wavering between gains and losses as investors weighed another downbeat outlook on the economy.

Citing a global slowdown and trade conflicts, economists from the National Association for Business Economics collectively project that growth will reach a modest 2.4 this year and just 2 percent in 2020.

That's in sharp contrast to the Trump administration's predictions that growth will accelerate in the coming years. Still, the economists say they think a recession remains unlikely any time soon.

Worried investors have shifted money into bonds, sending yields lower. The yield on the 10-year Treasury slid to 2.40 percent from 2.45 percent late Friday. At one point, the yield had fallen to 2.38 percent, briefly triggering deeper declines in the stock indexes.

The 10-year Treasury yield remains below the yield on the three-month Treasury bill, a worrying sign that in the past has preceded recessions. That "inversion" occurred on Friday and has spooked investors.

"Really, the things that are driving markets are the uncertainties about global growth and also about how the Fed is going to respond to the inversion of the yield curve," Tilley said.

The market's recent skid follows what has been a strong start to the year on Wall Street as stocks rebounded from a steep slide at the end of 2018. The bull market for U.S. stocks recently marked its 10th anniversary and is now the longest of all time.

Monday's shaky start to the came amid a lull in news on the tariffs war between the United States and China. Trade talks are due to resume Thursday in Beijing.

U.S. stock indexes did not appear to have a significant move either way in response to news that the special counsel's probe into Russian meddling in the 2016 presidential election concluded without finding evidence that the Trump campaign conspired or coordinated with Russia.

Attorney General William Barr issued a summary of the report Sunday, in which Special Counsel Robert Mueller did not find evidence that President Donald Trump's campaign conspired or coordinated with Russia to influence the election. Mueller also reached no conclusion on whether Trump obstructed justice.

Still, the end of the Russia probe alleviates some reasons for concern in the market," said Tom Martin, senior portfolio manager with Globalt Investments.

"The Mueller report, at the margin, is a net positive for the market, as it removes some degree of uncertainty, although some uncertainty remains about what the various and ongoing investigations will turn up," he said.

Losses in technology and financial companies outweighed gains in consumer discretionary and industrial stocks Monday.

Chipmaker Micron Technology dropped 2.6 percent, while Synchrony Financial slid 1.4 percent. Homebuilder Lennar climbed 3.6 percent to lead the consumer discretionary sector, while retailer L Brands picked up 2.6 percent.

Apple's splashy announcement of new offerings, including a subscription TV service due to launch in the fall, failed to impress investors. The stock slid 1.2 percent after the consumer electronics giant disclosed details of its forthcoming Apple TV Plus and other services, including subscriptions for games and news.

The company did not say how much Apple TV Plus, which will be ad-free, will cost or when exactly it will debut.

The new service will put Apple in direct competition with big streaming services including Netflix and Amazon Video. Apple is pushing digital subscriptions as it searches for new growth amid declining sales of its iPhones, long the company's marquee product and main money maker.

Airline shares declined as major carriers continued to cancel flights due to the grounding of Boeing 737 Max aircraft as federal regulators continue to investigate two deadly crashes involving the plane model.

American Airlines fell 1.2 percent a day after the company said it will be canceling about 90 flights a day through April 24. The airline has 24 Boeing 737 Max aircraft in its fleet.

Southwest Airlines, which has 34 Max aircraft, is canceling, on average, 130 daily flights. Its shares slid 1.3 percent. Boeing fared better, adding 2.3 percent.

Energy futures finished mostly higher. Benchmark U.S. crude oil dipped 0.4 percent to settle at $58.82 a barrel. Brent crude, the international standard, rose 0.3 percent to close at $67.21 a barrel.

Wholesale gasoline added 0.6 percent to $1.94 a gallon, heating oil gained 0.7 percent to $1.98 a gallon and natural gas inched up 0.1 percent to $2.76 per 1,000 cubic feet.

Gold gained 0.8 percent to $1,322.60 an ounce, silver rose 1 percent to $15.57 an ounce and copper picked up 0.5 percent to $2.86 a pound.

The dollar fell to 110.06 yen from 110.07 Japanese yen on Friday. The euro strengthened to $1.1312 from $1.1294.


----------



## bigdog

Stocks finished broadly higher on Wall Street Tuesday, erasing the market's modest losses from a day earlier.

Financial, technology and health care stocks accounted for much of the rally. Banks got a boost from rising bond yields, which let them charge higher rates on loans.










https://www.usnews.com/news/busines...-stocks-rebound-after-slide-on-growth-worries

*Banks, Technology Companies Power a Rebound for US Stocks*
Stocks finished broadly higher on Wall Street Tuesday, erasing the market's modest losses from a day earlier.
March 26, 2019, at 4:59 p.m. 

By ALEX VEIGA, AP Business Writer

Stocks finished broadly higher on Wall Street Tuesday, erasing the market's modest losses from a day earlier.

Financial, technology and health care stocks accounted for much of the rally. Banks got a boost from rising bond yields, which let them charge higher rates on loans.

Energy companies led the S&P 500 higher as the price of U.S. crude oil moved briefly above $60 a barrel. Oil hasn't closed above $60 a barrel since November.

Homebuilders slumped on new data showing the pace of newly started residential construction projects fell sharply last month.

Even after losing some of its early strength, the broad upward turn in stocks marked a reversal for the market, which started the week on a downbeat note after racking up losses last week as investors' jitters over a global economic slowdown intensified. That led to a troubling drop in long-term bond yields.

On Tuesday the yield on the benchmark 10-year Treasury note edged up to 2.42 percent from 2.41 percent late Monday. However, it's still below the yield on the three-month Treasury bill, which many see as a warning sign of a possible recession.

"A lot of today's move has to do with the change in direction in the yield curve," said Lindsey Bell, investment strategist at CFRA. "It just goes to show that we're kind of in a period of indecisiveness in the market, where the market is grappling with what is obviously slowing growth around the globe and a little bit of uncertainty here in the U.S. about what growth is going to look like once we get past the seasonally weak first quarter."

The S&P 500 index gained 20.10 points, or 0.7 percent, to 2,818.46. The Dow Jones Industrial Average rose 140.90 points, or 0.6 percent, to 25,657.73. It briefly climbed 279 points.

The Nasdaq composite added 53.98 points, or 0.7 percent, to 7,691.52. The Russell 2000 index of smaller company stocks picked up 15.30 points, or 1 percent, to 1,528.17.

Major European indexes finished higher, rebounding from a day earlier.

Even with last week's stumble, U.S. stocks remain on track to finish the quarter with solid gains at the end of this week. The benchmark S&P 500 index is up more than 12 percent so far in 2019, an unusually strong start to a year.

Still, uncertainty remains over how the U.S. and China will resolve their costly trade dispute and how a slowing global economy will affect corporate profits as companies begin to report results for the first quarter next month.

"We have a lack of catalysts right now before we get into earnings season," said Bell. "The market is going to be a little bit erratic until we get clarity on the direction of earnings, the direction of the trade deal, the direction of Brexit, all these major uncertainties out there."

While concerns about the global economy have held back stocks recently, traders mostly shrugged off two disappointing bellwether reports on the U.S. economy Tuesday.

The Conference Board, a business research group, said its consumer confidence index fell to 124.1 in March from 131.4 in February. And the Commerce Department said the number of homes under construction fell 8.7 percent last month as ground breakings for single-family houses declined to their lowest level in nearly two years.

The housing starts data weighed on most homebuilder stocks. Beazer Homes USA slid 1.1 percent.

Bed Bath & Beyond soared 22 percent in very heavy trading after The Wall Street Journal reported that the troubled retailer is being targeted by activist investors.

Qualcomm climbed 2.4 percent after a U.S. trade judge recommended banning some iPhones from being imported into the U.S. The judge concluded that Apple's best-selling device infringed on technology owned by the mobile chipmaker. Apple fell 1 percent.

Carnival slumped 8.7 percent after the cruise line operator's latest quarterly results fell short of Wall Street's forecasts. The company also issued a weaker-than-expected second-quarter earnings outlook.

Benchmark U.S. crude climbed 1.9 percent to settle at $59.94 a barrel. Brent crude, used to price international oils, added 0.3 percent to close at $67.97 a barrel.

The pickup in oil prices helped boost energy stocks. Anadarko Petroleum rose 3.1 percent.

Wholesale gasoline picked up 0.9 percent to $1.96 a gallon, heating oil gained 0.5 percent to $1.99 a gallon and natural gas fell 0.5 percent to $2.74 per 1,000 cubic feet.

Gold lost 0.6 percent to $1,315 an ounce, silver dropped 0.9 percent to $15.43 an ounce and copper slipped 0.1 percent to $2.85 a pound.

The dollar strengthened to 110.52 yen from 110.06 Japanese yen on Monday. The euro fell to $1.1278 from $1.1312.


----------



## bigdog

Technology and health care companies drove a broad slide in U.S. stocks Wednesday, erasing some of the market's solid gains from a day earlier.

The sell-off put the Dow Jones Industrial Average on track to end the month with a loss and marked the second drop for the benchmark S&P 500 index this week.










https://www.usnews.com/news/busines...shares-mixed-following-rebound-on-wall-street

*US Stocks Stumble, Erasing Some of the Prior Day's Gains*
Technology and health care companies drove a broad slide in U.S. stocks Wednesday, erasing some of the market's solid gains from a day earlier.
March 27, 2019, at 4:51 p.m.

By ALEX VEIGA, AP Business Writer

Technology and health care companies drove a broad slide in U.S. stocks Wednesday, erasing some of the market's solid gains from a day earlier.

The sell-off put the Dow Jones Industrial Average on track to end the month with a loss and marked the second drop for the benchmark S&P 500 index this week.

While U.S. stocks remain on track to finish the quarter with solid gains, investors remain anxious over the slowing global economy and worrisome signals coming from the bond market.

The yield on the benchmark 10-year Treasury note continued to decline Wednesday, dropping to 2.38 percent from 2.41 percent late Tuesday. That remained below the yield on the three-month Treasury bill. When that kind of "inversion" in bond yields occurs, economists fear it may signal a recession within the coming year.

"The S&P 500 attempted to rally right out of the open, but then started to give back ground," said Jeramey Lynch, global investment specialist at J.P. Morgan Private Bank. "The focus still continues to be on rates, particularly in the lower end of the curve, and with rates still heading down the market is having a tough time bucking that trend."

The S&P 500 dropped 13.09 points, or 0.5 percent, to 2,805.37. Even with the latest slide, the index is up 11.9 percent so far in 2019, an unusually strong start to the year.

The Dow slid 32.14 points, or 0.1 percent, to 25,625.59. That came after a day of wavering, having been up as much as 100 points and down as much as 232 points.

The Nasdaq composite lost 48.15 points, or 0.6 percent, to 7,643.38. The Russell 2000 index of smaller company stocks gave up 5.93 points, or 0.4 percent, to 1,522.23.

Major European indexes closed mixed. Investors were keeping a close eye on developments in Britain, where lawmakers debated various alternatives for the country's split from the European Union.

In addition to Brexit, investors are still waiting to see how the U.S. and China will resolve their costly trade dispute, with high-level talks between Washington and Beijing scheduled to resume Thursday. They're also looking ahead to the next batch of corporate earnings reports, which start to roll in next week.

Chipmakers were among the big technology sector decliners. Advanced Micro Devices fell 3.1 percent and Micron Technology dropped 2.7 percent.

Banks declined as bond yields fell, which cut into lenders' ability to charge higher rates on loans. Bank of New York Mellon fell 1.5 percent.

Centene led the slide in health sector stocks, giving up 5 percent, after agreeing to buy WellCare Health Plans for more than $15 billion. Both companies are big players in the Affordable Care Act market. The deal comes two days day after the Trump administration attacked the ACA in court, saying that former President Barack Obama's health care law should be declared unconstitutional. WellCare Health Plans jumped 12.3 percent.

Industrial sector stocks bucked the broader market decline, led by gains in airlines. Southwest Airlines rose 2.2 percent, Delta Air Lines added 1.8 percent and American Airlines Group picked up 2.4 percent.

Homebuilders also marched broadly higher, getting help from lower bond yields. Mortgage rates tend to move along with the yield on the 10-year Treasury note, and lower mortgage rates make it easier for would-be buyers to purchase a home.

The sector also got a boost from news that mortgage applications rose sharply last week as the average rate for a 30-year fixed-rate home loan declined from a week earlier.

LGI Homes climbed 5.6 percent and PulteGroup rose 5.1 percent.

Traders also bid up shares in Shoe Carnival after the retailer's fourth-quarter earnings and revenue exceeded analysts' forecasts. The stock vaulted 22.4 percent.

Oil and gas futures closed lower. Benchmark U.S. crude fell 0.9 percent to settle at $59.41 a barrel. Brent crude, used to price international oils, dropped 0.2 percent to close at $67.83 a barrel.

Wholesale gasoline gave up 3.1 percent to $1.90 a gallon, heating oil slipped 0.5 percent to $1.98 a gallon and natural gas fell 1 percent to $2.71 per 1,000 cubic feet.

Gold lost 0.3 percent to $1,310.40 an ounce, silver dropped 0.8 percent to $15.30 an ounce and copper added 0.3 percent to $2.86 a pound.

The dollar weakened to 110.36 yen from 110.52 Japanese yen on Tuesday. The euro fell to $1.1263 from $1.1278.


----------



## bigdog

Stocks finished broadly higher on Wall Street Thursday as bond yields rose, easing concerns about a troubling drop in long-term yields over the past week.

Gains in financial, technology and industrial stocks outweighed losses in utilities and communications companies. Smaller company stocks outgained the broader market.










https://www.usnews.com/news/busines...-fall-after-us-stumble-eying-china-trade-talk

*Rising Bond Yields, Company Earnings Boost US Stocks*
Stocks finished broadly higher on Wall Street Thursday as bond yields rose, easing concerns about a troubling drop in long-term yields over the past week.
March 28, 2019, at 4:39 p.m.

By ALEX VEIGA, AP Business Writer

Stocks finished broadly higher on Wall Street Thursday as bond yields rose, easing concerns about a troubling drop in long-term yields over the past week.

Gains in financial, technology and industrial stocks outweighed losses in utilities and communications companies. Smaller company stocks outgained the broader market.

Following a sharp rebound from a dismal end to 2018, the benchmark S&P 500 index is on track for its biggest quarterly gain since the third quarter of 2009.

Thursday's rally, which followed a stumble earlier in the day, came as bond yields rose off their recent lows. The yield on the benchmark 10-year Treasury note rose to 2.39 percent from 2.37 percent late Wednesday.

"The markets are looking closely at bond yields, and the fact that bond yields have eased a little bit is a reason for the stock market to breathe a little easier today," said Erik Davidson, chief investment officer at Wells Fargo Private Bank.

The S&P 500 gained 10.07 points, or 0.4 percent, to 2,815.44. The Dow Jones Industrial Average rose 91.87 points, or 0.4 percent, to 25,717.46. The Nasdaq composite added 25.79 points, 0.3 percent, to 7,669.17.

The Russell 2000 index of smaller company stocks picked up 12.87 points, or 0.8 percent, to 1,535.10.

Major indexes in Europe finished mostly lower.

Despite an uneven week of trading, the S&P 500 is still up 12.3 percent so far in 2019, a blockbuster start to a year. Still, investors remain anxious about the slowing global economy and worrisome signals coming from the bond market.

Key bond yields fell to their lowest levels in more than a year last Friday and continued to slide this week after the Federal Reserve said it was seeing slower growth in the economy and no longer expected to raise interest rates this year.

Even after edging higher Thursday, the 10-year Treasury yield remained below the yield on the three-month Treasury bill. That kind of "inversion" in bond yields is an unusual phenomenon that has preceded recessions in the past.

"When the yield curve inverts, on average, it's about 18 months before the start of a recession," Davidson said. "That would still be a long ways off and the markets can still do pretty well between now and then."

The rise in bond yields gave bank stocks a boost. Citigroup gained 2.1 percent. Higher bond yields are good for banks because they can earn more income from the bonds they hold and they can charge higher interest rates on loans.

Encouraging company earnings and outlooks also helped lift stocks Thursday.

Movado jumped 22.8 percent after the watch maker reported strong earnings in its last quarter. Shares in PVH vaulted 14.8 percent after the parent company of Calvin Klein and other brands turned in solid quarterly results.

Lululemon Athletica climbed 14.1 percent after the athletic apparel retailer posted better-than-expected quarterly results and issued a positive outlook.

Accenture was the biggest gainer in the technology sector after the consulting company's latest quarterly results topped Wall Street's forecasts. The stock rose 5.2 percent.

Verizon led the slide in communications services stocks, shedding 3 percent.

Traders brushed off a discouraging U.S. economic snapshot. The Commerce Department said U.S. economic growth slowed sharply in the last three months of 2018 to an annual rate of just 2.2 percent, reflecting weakness in consumer spending, business investment, government spending and housing.

Economists believe growth has slowed further in the current January-March quarter due to weaker growth prospects in China and Europe, the dampening effects on U.S. exports from the Trump administration's trade battles and the waning boost from the 2017 tax cut and government spending.

The more downbeat outlook for economic growth has prompted the Federal Reserve to signal that it plans to keep its benchmark interest rate on hold this year.

Looking ahead, investors have their eye on several potential market-moving developments.

Chinese and U.S. trade negotiators are preparing for the latest round of talks aimed at ending a tariff war between the world's two biggest economies. And in the United Kingdom, the countdown to Britain's departure from the EU loomed Friday.

In addition, the next big wave of corporate earnings kicks into gear in mid-April.

Benchmark U.S. crude fell 0.2 percent to settle at $59.30 a barrel. Brent crude, used to price international oils, closed little changed at $67.82 a barrel.

In other energy futures trading, wholesale gasoline fell 0.8 percent to $1.88 a gallon, heating oil slipped 0.4 percent to $1.97 a gallon and natural gas dropped 0.3 percent to $2.71 per 1,000 cubic feet.

Gold fell 1.6 percent to $1,295.30 an ounce, silver lost 2.1 percent to $14.97 an ounce and copper added 0.3 percent to $2.87 a pound.

The dollar rose to 110.58 yen from 110.36 yen on Wednesday. The euro weakened to $1.1226 from $1.1263. The British pound fell to $1.3059 from $1.3262.


----------



## bigdog

A Sea of Green!

Stocks finished broadly higher on Friday as Wall Street closed out the first quarter with the market's biggest gain in nearly a decade.

The benchmark S&P 500 index is now up 13.1 percent this year, a drastic turnaround for stocks after a jarring 14 percent sell-off in the last three months of 2018.










https://www.usnews.com/news/busines...-leads-gains-in-asia-as-china-us-talks-resume

*S&P 500 Posts Biggest Quarterly Gain in a Decade; Lyft Soars*
Stocks finished broadly higher on Friday as Wall Street closed out the first quarter with the market's biggest gain in nearly a decade.
March 29, 2019, at 5:01 p.m.

By ALEX VEIGA, AP Business Writer

Stocks finished broadly higher on Friday as Wall Street closed out the first quarter with the market's biggest gain in nearly a decade.

The benchmark S&P 500 index is now up 13.1 percent this year, a drastic turnaround for stocks after a jarring 14 percent sell-off in the last three months of 2018.

The market's blockbuster quarter shared the spotlight with Lyft's much-anticipated trading debut on the Nasdaq stock exchange. The ride-hailing company's shares finished at $78.29, or 8.7 percent above its offering price of $72.

New data pointing to lower inflation and renewed optimism among investors that the trade talks between the U.S. and China are making progress helped drive the rally. Bond yields also continued to rise from recent lows, easing concerns about a steep drop in long-term yields heading into this week.

"Low interest rates, low inflation, possibly better trade, that's enough here to move the market higher," said Mile Baele, senior portfolio manager at U.S. Bank Wealth Management. "It's been some time since we've had some enthusiasm in the IPO market, and that might be helping the markets today as well."

The S&P 500 index gained 18.96 points, or 0.7 percent, to 2,834.40. The index also notched a gain for the week.

The Dow Jones Industrial Average rose 211.22 points, or 0.8 percent, to 25,928.68. The Nasdaq composite added 60.16 points, or 0.8 percent, to 7,729.32. The Russell 2000 index of smaller company stocks picked up 4.63 points, or 0.3 percent, to 1,539.74.

Major indexes in Europe and Asia closed higher.

The Dow ended the quarter with an 11.2 percent gain, while the Nasdaq is up 16.5 percent. The Russell 2000 is 14.2 percent higher this year.

The U.S. stock market rebounded strongly in the first quarter after closing out 2018 with a steep sell-off. The S&P 500's technology sector powered much of those gains, climbing 19.3 percent over the last three months.

The Federal Reserve sparked the rebound by announcing a more patient approach to further interest rate hikes. The move reassured investors, who'd worried that the Fed would continue to raise rates amid signs of a slowing global economy.

"As disappointing and perhaps shocking as the sell-off in the fourth quarter was, with the Fed getting out of the way, the rebound has been equally as shocking," said Baele. "Essentially, we're just back to where we were in October."

The first-quarter's strength helped prolong the bull market for U.S. stocks, which marked its 10th anniversary in March, and is now the longest ever.

The last time the S&P 500 index turned in a better quarterly performance was in the third quarter of 2009, when it climbed about 15 percent.

Friday's gains followed a broad rally in global stocks as investors hoped for progress in U.S.-Chinese trade talks. U.S. Treasury Secretary Steven Mnuchin called the U.S.-China trade talks "constructive" and said in a tweet Friday that he looked forward to continuing the talks in Washington next week.

Officials from the world's two biggest economies are aiming to put to rest a dispute over technology and other issues. Chinese Vice Premier Liu He is expected to travel to Washington next week.

Bond yields rose for the second straight day, allaying traders' concerns following a steep drop in long-term yields over the past week. The yield on the benchmark 10-year Treasury note rose to 2.40 percent from 2.39 percent late Thursday.

Investors remain anxious about the slowing global economy. Economists believe growth has slowed this year due to weaker growth prospects in China and Europe, the dampening effects on U.S. exports from the Trump administration's trade battles and the waning boost from the 2017 tax cut and government spending.

The more downbeat outlook for economic growth has prompted the Federal Reserve to signal that it plans to keep its benchmark interest rate on hold this year.

Lyft's market debut marked the first time a U.S. ride-hailing company sold shares to the public.

Investors clamored to get in on the action in the days leading up to the IPO, despite the company's history of losses. That prompted Lyft to raise its target price to $72 per share from an initial range of $62 to $68.

Traders' enthusiasm boosted Lyft's shares 20 percent above their offering price in the first few minutes after they began trading. The shares ended the day 8.7 percent higher.

The company said it raised more than $2 billion in the IPO, which it plans to use in its heated competition with archrival Uber. Lyft sold 32.5 million shares in the offering, above the nearly 31 million that it had targeted in its regulatory filings leading up to Thursday evening's pricing.

Technology and health care companies drove much of the market's gains Friday. Micron Technology rose 5.1 percent and Celgene jumped 7.9 percent.

Industrial sector companies notched solid gains as shares in several airlines climbed. American Airlines Group gained 2.8 percent, Southwest Airlines added 2.9 percent and Delta Air Lines picked up 2.6 percent.

Among the biggest movers Friday were companies that issued their latest quarterly report cards.

CarMax led all stocks in the S&P 500 with a gain of 9.6 percent after the auto dealership chain's fourth-quarter earnings topped Wall Street's forecasts, even as revenue fell short of expectations.

Shares in RH slumped 22 percent after the owner of furniture chain Restoration Hardware reported disappointing fourth-quarter revenue. RH's fiscal 2019 outlook also fell well below analysts' expectations.

Investors will be focusing more on corporate earnings in coming weeks, as the next big wave of company results kick into gear in mid-April.

Energy futures closed mostly higher. Benchmark U.S. crude rose 1.4 percent to settle at $60.14 a barrel. Brent crude, used to price international oils, closed 0.8 percent higher at $68.39 a barrel.

Wholesale gasoline added 0.8 percent to $1.90 a gallon, heating oil picked up 0.1 percent to $1.97 a gallon and natural gas dropped 1.8 percent to $2.66 per 1,000 cubic feet.

Gold inched 0.2 percent higher to $1,298.50 an ounce, silver gained 0.9 percent to $15.11 an ounce and copper climbed 2.2 percent to $2.94 a pound.

The dollar rose to 110.80 yen from 110.58 yen on Thursday, while the euro weakened to $1.1214 from $1.1226.

The British pound also fell against the U.S. currency, sliding to $1.3003 from $1.3059, after lawmakers on Friday rejected for the third time Prime Minister Theresa May's plan to leave the European Union.

Britain now has until April 12 to tell the EU what it plans to do next. It must cancel Brexit, seek a longer delay or crash out of the bloc without a deal.

5844


----------



## bigdog

*A Sea of Green again!*

Stocks closed solidly higher on Wall Street Monday after a batch of encouraging global economic data kept investors in a buying mood.

Financial and technology companies powered much of the rally, which extended the market's gains from last week, when the benchmark S&P 500 closed out its best quarter in nearly a decade.










https://www.usnews.com/news/busines...-markets-rally-extending-gains-on-wall-street

*US Stocks Post Solid Finish on Encouraging Economic Data*
Stocks closed solidly higher on Wall Street Monday after a batch of encouraging global economic data kept investors in a buying mood.
April 1, 2019, at 4:52 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks closed solidly higher on Wall Street Monday after a batch of encouraging global economic data kept investors in a buying mood.

Financial and technology companies powered much of the rally, which extended the market's gains from last week, when the benchmark S&P 500 closed out its best quarter in nearly a decade.

In another hopeful sign, long-term bond yields rose above their recent lows, following a sharp drop last month that flashed a possible recession warning, rattling Wall Street.

Those concerns were allayed Monday as new economic data suggested a brighter outlook for the U.S. economy. A gauge of U.S. manufacturing notched a big gain in March, while a separate report showed construction spending climbed in February. Meanwhile, an economic report out of China showed growth in exports, employment and orders.

While the more encouraging data gave stocks a boost, the market could face some bumps ahead, said Liz Ann Sonders, chief investment strategist at Charles Schwab.

"The hurdle in the near-term is still going to be earnings," she said. "That's the next important phase."

The S&P 500 gained 32.79 points, or 1.2%, to 2,867.19, notching a three-day winning streak.

The Dow Jones Industrial Average jumped 329.74 points, or 1.3%, to 26,258.42. The Nasdaq composite climbed 99.59 points, or 1.3%, to 7,828.91. The Russell 2000 index of smaller company stocks picked up 16.33 points, for a 1.1% gain, to 1,556.06.

Major European stock indexes finished broadly higher.

Monday's gains followed a strong finish to the first quarter for U.S. stocks. The S&P 500 index is now up 14.4% this year, a big turnaround after the index skidded 14 percent in the final quarter of 2018.

Financial and technology companies powered the latest rally. Investors tend to favor those sectors when they're confident the economy will continue growing. Bank of America gained 3.4% and Intel rose 1.5%.

Consumer product makers and utility companies, which are considered safe-play investments, lagged the market. Clorox fell 1.2% and NRG Energy slid 1.7%.

Bond yields continued rising in another sign that investors are confident in the economy's growth. That came as a welcome relief following a sharp drop in bond yields to their lowest levels in more than a year.

The yield on the 10-year Treasury note rose sharply, to 2.50% from 2.41% late Friday. It also rose back above the yield on the three-month Treasury bill.

The shift reverses an "inversion" in bond yields that alarmed investors last month because such a phenomenon, when it persists over time, has preceded recessions in the past.

Key bond yields fell to their lowest levels in more than a year on March 22 and continued to slide much of last week after the Federal Reserve said it was seeing slower growth in the economy and no longer expected to raise interest rates this year.

"You look to the bond market to be a bit more skeptical and a bit ahead of the equity market on where things are going," said Tom Martin, senior portfolio manager with Globalt Investments. "So, the movement upward in the 10 year (yield) is a bounce that says 'OK, we realize there are these issues of a slowdown, but it's not a disaster.'"

The rise in bond yields helped boost bank stocks. Higher bond yields mean that banks can benefit from higher interest rates on loans. Shares in JPMorgan Chase, Citigroup and Capital One Financial each posted a 3.4% gain.

Wynn Resorts led all stocks in the S&P 500 as traders welcomed a solid revenue report from the casino operator's businesses in Macau and upbeat economic data from China. The stock jumped 8.4%.

Lyft plunged 11.9% on its second full day of trading, falling below its initial public offering price of $72 a share. The ride-hailing company has consistently lost money but has posted supercharged growth.

Its IPO had been seen as a harbinger for other hotly anticipated offerings in fast-growing, privately held companies such as Uber, Pinterest and Slack.

Kellogg slid 2.4% on news the packaged foods company is selling its Keebler cookie brand and other sweet snacks businesses to Ferrero, an Italian confectionary company best known for making Nutella, for $1.3 billion.

Investors will be focusing more on corporate earnings this month, as the next big wave of company results kick into gear next week.

Wall Street expects a contraction in earnings during the first quarter, followed by slow growth for the remainder of 2019. Any company commentary about their prospects for the next few quarters will be important in giving analysts and investors a better picture of the economy.

Traders also have their eye on the U.S.-Chinese trade negotiations, which are due to resume this week. Officials from the world's two biggest economies are aiming to put to rest a dispute over technology and other issues.

Energy futures closed higher. Benchmark U.S. crude gained 2.4% to settle at $61.59 a barrel. Brent crude, used to price international oils, closed 2.1% higher at $69.01 a barrel.

Wholesale gasoline added 0.9% to $1.90 a gallon, heating oil picked up 0.8% to $1.99 a gallon and natural gas rose 1.7% to $2.71 per 1,000 cubic feet.

Gold inched 0.3% lower to $1,294.20 an ounce, silver slipped 0.1% to $15.10 an ounce and copper dropped 0.4% to $2.92 a pound.

The dollar rose to 111.37 yen from 110.80 yen on Friday, while the euro weakened to $1.1211 from $1.1214.


----------



## bigdog

A day of listless trading on Wall Street ended with an uneven finish for stock indexes as the market lost some of its momentum after a three-day winning streak.

After a brief early slide, U.S. stocks mostly wavered between small gains and losses through the rest of the day, as gains for some big technology companies were offset by losses in other sectors.










https://www.usnews.com/news/busines...ocks-follow-wall-street-higher-on-upbeat-data

*US Stock Indexes Cap Listless Trading Day With Mixed Finish*
A day of listless trading on Wall Street ended with an uneven finish for stock indexes as the market lost some of its momentum after a three-day winning streak.
April 2, 2019, at 4:54 p.m. 

By ALEX VEIGA, AP Business Writer

A day of listless trading on Wall Street ended with an uneven finish for stock indexes as the market lost some of its momentum after a three-day winning streak.

After a brief early slide, U.S. stocks mostly wavered between small gains and losses through the rest of the day, as gains for some big technology companies were offset by losses in other sectors.

Consumer products companies took some of the heaviest losses, led by drugstore chain operator Walgreens Boots Alliance, which plunged after it slashed its forecast following a weak quarter. Competitor CVS followed it lower.

The S&P 500 ended essentially flat, having eked out a sliver of a gain, which was still good enough to extend the benchmark index's winning streak into a fourth day. Small-company stocks fell.

"You had some selling this morning, but it didn't really materialize into much of anything," said Willie Delwiche, investment strategist at Baird. "There will be plenty of market-moving things over the next few weeks."

All told, the S&P 500 index edged up 0.05 points, or less than 0.1%, to 2,867.24.

The Dow Jones Industrial Average fell 79.29 points, or 0.3%, to 26,179.13. The Nasdaq composite index rose 19.78 points, or 0.3%, to 7,848.69. The Russell 2000 index of smaller company stocks gave up 2.74 points, or 0.2%, to 1,553.32.

Major European stock indexes finished higher.

Bond prices rose. The yield on the benchmark 10-year Treasury fell to 2.47% from 2.49% late Monday.

The day's downbeat finish for stocks followed an overall strong stretch for the market.

The S&P 500 finished the January-March period with its biggest quarterly gain in nearly a decade. The index is now up 14.4% this year, and would now need to rise just 2.2% to regain the peak it reached September 20.

Investors are still not sure which direction to move as they weigh uncertainty over international trade issues and warnings over a weak first quarter for companies.

The unresolved trade dispute between the U.S. and China is still a key issue, said J.J. Kinahan, chief market strategist at TD Ameritrade.

"Nobody wants to buy with both hands, just in case," he said. "But, people won't aggressively sell everything as well, just in case."

Traders are looking ahead to Wednesday, when trade negotiations between the U.S. and China are due to resume. Officials from the world's two biggest economies are aiming to put to rest a dispute over technology and other issues.

Friday also brings potential market-moving news, when the government issues its tally of jobs added by U.S. employers last month. Economists project a gain of 170,000, according to FactSet.

"You have the start of the quarter and now you're starting to go into wait-and-see mode until you get the jobs data on Friday," Delwiche said.

Investors are also gearing up for a slew of corporate earnings this month, as the next big wave of company results kick into gear next week.

Wall Street expects a contraction in earnings during the first quarter, followed by slow growth for the remainder of 2019. Any company commentary about their prospects for the next few quarters will be important in giving analysts and investors a better picture of the economy.

Technology, communication and real estate sectors were among those that squeezed out gains Monday. Apple rose 1.5%, Facebook gained 3.3% and Boston Properties added 1.6 percent.

Walgreens led a slide in consumer products stocks after it reported a 14% drop in second-quarter profit, which the company's CEO described as the most difficult quarter the nation's largest drugstore has faced since forming a few years ago.

The company also slashed its forecast for 2019. Walgreens shares fell 12.8% and helped push down key competitor CVS Health by 3.8%.

Airline stocks rose after Delta Air Lines raised its profit forecast for the current quarter. Delta jumped 6%.

Other airlines also rose. United Continental picked up 2.3%, American Airlines Group added 2% and JetBlue Airways rose 1.2%.

Dow Inc., which makes plastics and other products for both consumer and industrial uses, climbed 5.1% in its first day of trading after being spun off from chemical maker DowDuPont.

Energy futures closed mostly higher. Benchmark U.S. crude gained 1.6% to settle at $62.58 a barrel. Brent crude, used to price international oils, closed 0.5% higher at $69.37 a barrel.

Wholesale gasoline climbed 1.6% to $1.93 a gallon, heating oil picked up 1% to $2.01 a gallon and natural gas fell 0.9% to $2.68 per 1,000 cubic feet.

Gold inched 0.1% higher to $1,295.40 an ounce, silver slipped 0.3% to $15.06 an ounce and copper dropped 0.6% to $2.91 a pound.

The dollar held steady at 111.37 yen, while the euro weakened to $1.1198 from $1.1211 on Monday.


----------



## bigdog

Stocks recovered from a late-afternoon bout of selling on Wall Street to finish modestly higher Wednesday, giving the benchmark S&P 500 its fifth straight gain.

Technology stocks powered much of the rally, led by chipmakers. Retailers, homebuilders and hotel operators were among the big gainers. Energy companies, consumer goods makers and industrial stocks took the heaviest losses.

The market's last-minute rebound after an early rally faded echoed the prior day's results and came in a mostly quiet week for market-moving news. That could change as swiftly as Friday, when the government issues its closely watched monthly tally of hiring by U.S. employers.









https://www.usnews.com/news/busines...res-edge-higher-ahead-of-us-china-trade-talks

*US Stocks End Moderately Higher; S&P 500 on 5-Day Win Streak*
Stocks recovered from a late-afternoon bout of selling on Wall Street to finish modestly higher Wednesday, giving the benchmark S&P 500 its fifth straight gain.
April 3, 2019, at 4:59 p.m.

By ALEX VEIGA, AP Business Writer

Stocks recovered from a late-afternoon bout of selling on Wall Street to finish modestly higher Wednesday, giving the benchmark S&P 500 its fifth straight gain.

Technology stocks powered much of the rally, led by chipmakers. Retailers, homebuilders and hotel operators were among the big gainers. Energy companies, consumer goods makers and industrial stocks took the heaviest losses.

The market's last-minute rebound after an early rally faded echoed the prior day's results and came in a mostly quiet week for market-moving news. That could change as swiftly as Friday, when the government issues its closely watched monthly tally of hiring by U.S. employers.

Investors were also gearing up for a new round of corporate earnings reports set to begin coming out next week. The overall forecast is for a weak round of results, with earnings by S&P 500 companies expected to contract by 4 percent, according to FactSet.

Even so, traders are expecting company earnings to come in a little bit above current forecasts and for results to be stronger later this year, said Sam Stovall, chief investment strategist at CFRA.

"The remaining quarters of the year are currently forecast to be higher," Stovall said. "So, in many ways, analysts think that the first quarter was an anomaly not likely to be repeated."

The S&P 500 index added 6.16 points, or 0.2%, to 2,873.40. The index is now about 2 percent shy of its most recent all-time high reached on September 20.

The Dow Jones Industrial Average rose 39 points, or 0.1%, to 26,218.13. The Nasdaq composite, which is heavily weighted with technology stocks, climbed 46.86 points, or 0.6%, to 7,895.55. The Russell 2000 index of smaller company stocks picked up 7.59 points, or 0.5%, to 1,560.91.

Major indexes in Europe finished higher.

Despite more volatile trading this week, the major U.S. stock indexes are on track to end the week with gains, adding to the market's blockbuster returns in the January-March period. The S&P 500 is now up 14.6% this year.

Whether the market builds on that momentum depends much on the upcoming wave of company earnings reports, which should provide investors with an updated outlook on growth in corporate profits and a better read on the state of the global economy.

"With recent economic data out of China showing a possible bottoming, combined with sporadic strength of indicators here in the U.S., investors are of the mindset that the soft patch has already been negotiated," Stovall said.

Delta will kick off the earnings results for airlines early next week, with JPMorgan and Wells Fargo leading bank earnings later in the week.

Traders also have had their eye out for developments in the trade negotiations between the U.S. and China, which resumed Wednesday. Investors hope that the world's two largest economies can agree to pull back on some of those tariffs and move toward a more stable trading partnership.

Markets have swayed for months as the contentious talks drag on. The latest reports say that both sides have resolved most of the key issues, with some pledges from China to end practices viewed by the U.S. as technology theft.

First up, however, is the government's monthly U.S. jobs report, due out Friday. Economists project a gain of 170,000, according to FactSet.

Investors shrugged off a report from payroll processor ADP on Wednesday showing private U.S. businesses added 129,000 jobs last month, down from the previous month's gain of 197,000.

Chipmakers led the gainers in the technology sector. Advanced Micro Devices jumped 8.5% and Micron Technology climbed 3.4%.

Energy companies, consumer goods makers and health care stocks lagged. Noble Energy slid 2%, tobacco company Altria Group dropped 4.8% and Mylan fell 2.3%.

Video game retailer GameStop slid 4.7% after reporting weak first-quarter sales, with more of the same likely for the year. It expects sales to fall as much as 10% this year and would not give investors a profit forecast. The stock has lost about two-thirds of its value since 2015 as revenue declines while gamers bypass retail shops for games that can be bought and played online.

Dave & Buster's added 4.9% after the restaurant and arcade operator beat fourth-quarter forecasts. A key sales figure jumped and also beat forecasts as the company attracted more business with the addition of a virtual reality game platform.

Blue Apron, which delivers ready-to-make meal kits, jumped 7.3% as it changes leadership. CEO Bradley Dickerson resigned and is being replaced by former Etsy executive Linda Kozlowski. The company has been struggling since it went public in June 2017. Its stock is down about 90 percent since then.

Bond prices fell. The yield on the benchmark 10-year Treasury rose to 2.52% from 2.48% late Tuesday.

The dollar rose to 111.47 yen from 111.37 yen on Tuesday. The euro strengthened to $1.1240 from $1.1198.

Energy futures closed mostly lower. Benchmark U.S. crude dropped 0.2% to settle at $62.46 a barrel. Brent crude, used to price international oils, closed 0.1% lower at $69.31 a barrel.

Wholesale gasoline climbed 1.2% to $1.95 a gallon, heating oil gave up 0.1% to $2.01 a gallon and natural gas fell 0.3% to $2.68 per 1,000 cubic feet.

Gold was little changed at $1,295.30 an ounce, silver rose 0.3% to $15.10 an ounce and copper gained 1.5% to $2.95 a pound.


----------



## bigdog

Another wobbly day of trading on Wall Street ended Thursday with modest gains, nudging the market's winning streak to a sixth straight day.

Banks, big retailers and communication services companies accounted for much of the market's gains as a late-afternoon flurry of buying drove stocks higher. Technology and health care stocks lagged the most.

Markets have been wobbly throughout the week as investors wait for the government's jobs report on Friday and prepare for a new round of corporate earnings reports next week.











https://www.usnews.com/news/busines...es-waver-following-lackluster-wall-st-session

*US Stock Indexes Finish Mostly Higher After a Wobbly Day*
Another wobbly day of trading on Wall Street ended Thursday with modest gains, nudging the market's winning streak to a sixth straight day.
April 4, 2019, at 4:56 p.m. 

By ALEX VEIGA, AP Business Writer

Another wobbly day of trading on Wall Street ended Thursday with modest gains, nudging the market's winning streak to a sixth straight day.

Banks, big retailers and communication services companies accounted for much of the market's gains as a late-afternoon flurry of buying drove stocks higher. Technology and health care stocks lagged the most.

Markets have been wobbly throughout the week as investors wait for the government's jobs report on Friday and prepare for a new round of corporate earnings reports next week.

New government data on Thursday showing applications for unemployment aid fell last week to a 49-year low likely means Friday's jobs report will show a strong rebound in hiring after a weak February, said Phil Orlando, chief equity strategist at Federated Investors.

"The one piece of economic news we got today was actually quite good," Orlando said. "The (jobs) number should be good, and to some degree I think the market has been grinding up, reflecting that improvement, along with other improvements in economic data points that we've seen over the last couple of weeks."

The S&P 500 index rose 5.99 points, or 0.2%, to 2,879.39. The Dow Jones Industrial Average gained 166.50 points, or 0.6%, to 26,384.63.

The Nasdaq fell 3.77 points, or 0.1%, to 7,891.78. The Russell 2000 index of smaller company stocks picked up 6.58 points, or 0.4%, to 1,567.49.

Major indexes in Europe finished mostly lower.

Despite some bumps this week, the major U.S. stock indexes are on track to end the week with gains, adding to the market's blockbuster returns in the January-March period. The S&P 500 is now up 14.9% this year.

"The market is up 22 percent since the Christmas Eve lows, so the pace of improvement here is going to shift from being strongly positive, as we saw during the first quarter, to more of a grind at this point," Orlando said.

The market could finish the week on a strong note if a the government's latest jobs report shows, as many economists expect, that hiring bounced back in March after adding a paltry 20,000 jobs in February.

Most economists attributed February's meager job gains to harsh winter weather and other temporary factors. The March tally is expected to show employers added 175,000 jobs, according to FactSet.

Investors are also keeping a close watch on the latest rounds of U.S.-China trade negotiations. Washington and Beijing opened a ninth round of talks Wednesday, aiming to further narrow differences in a trade war that has deepened uncertainty for businesses and investors and cast a pall over the outlook for the global economy.

The latest reports say that both sides have resolved most of the key issues, with some pledges from China to end practices viewed by the U.S. as technology theft.

While the big wave of corporate earnings reports arrives next week, some companies have begun providing details that hint at what their next quarterly report cards will show.

Tesla sank 8.2% a day after the electric vehicle company said vehicle deliveries fell sharply in the first quarter.

The company only churned out 77,100 vehicles to start the year, leaving it well off pace to meet CEO Elon Musk's pledge to build 500,000 cars annually.

Musk already warned investors that the company will lose money during the first quarter as it cuts costs in order to lower the price of the Model 3, its first electric car designed for the mass market.

Meanwhile, Office Depot plunged 23.6% after the retailer warned investors that first-quarter revenue would fall short of forecasts. It also said a 20% jump in paper costs over the last 12 months will weigh down operating expenses.

Constellation Brands climbed 6.5% after the wine, liquor and beer company's fourth-quarter results topped Wall Street's forecasts. The company also said it will sell about 30 of its cheaper wine brands.

Boeing gained 2.9% after new details were released about the deadly Ethiopian Airlines crash of an passenger airplane built by the aircraft manufacturer.

Bond prices were little changed. The yield on the benchmark 10-year Treasury held at 2.51%.

The dollar rose to 111.58 yen from 111.47 yen on Wednesday. The euro weakened to $1.1221 from $1.1240.

Energy futures posted an uneven finish. Benchmark U.S. crude dropped 0.6% to settle at $62.10 a barrel. Brent crude, used to price international oils, closed 0.1% higher at $69.40 a barrel.

Wholesale gasoline dropped 0.6% to $1.94 a gallon, heating oil picked up 0.3% to $2.01 a gallon and natural gas fell 1.3% to $2.64 per 1,000 cubic feet.

Gold inched 0.1% lower to $1,294.30 an ounce, silver slipped 0.1% to $15.08 an ounce and copper fell 1.3% to $2.91 a pound.


----------



## bigdog

Wall Street closed out another solid week of gains Friday as the stock market hit its longest winning streak in a year and a half.

Health care, energy and technology companies accounted for much of the broad rally, which extended the S&P 500's consecutive run of gains to seven days. The benchmark index also ended the week with its second straight weekly gain. Small company stocks did better than the rest of the market.

A strong rebound in hiring, which eased worries that the U.S. economy is slowing too sharply, helped put traders in a buying mood.










https://www.usnews.com/news/busines...ostly-higher-on-upbeat-talk-on-china-us-trade

*Jobs Rebound Drives US Stocks Higher for Another Weekly Gain*
Wall Street closed out another solid week of gains Friday as the stock market hit its longest winning streak in a year and a half.
April 5, 2019, at 4:50 p.m.

By ALEX VEIGA, AP Business Writer

Wall Street closed out another solid week of gains Friday as the stock market hit its longest winning streak in a year and a half.

Health care, energy and technology companies accounted for much of the broad rally, which extended the S&P 500's consecutive run of gains to seven days. The benchmark index also ended the week with its second straight weekly gain. Small company stocks did better than the rest of the market.

A strong rebound in hiring, which eased worries that the U.S. economy is slowing too sharply, helped put traders in a buying mood.

The jobs report also hit a happy medium for markets, strategists said. It was neither low enough to heighten recession worries nor high enough to prod the Federal Reserve to raise interest rates.

"The big driver now over the next few weeks will be earnings," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. "The bar is low, expectations are low, and that sets the market up for maybe some modest upside."

The S&P 500 rose 13.35 points, or 0.5%, to 2,892.74. The Dow Jones Industrial Average gained 40.36 points, or 0.2%, to 26,424.99. The Nasdaq composite climbed 46.91 points, or 0.6%, to 7,938.69.

The Russell 2000 index of smaller company stocks picked up 15.06 points, or 1%, to 1,582.56.

The S&P 500 has climbed every day this week, though most of the gains were only modest, and it now sits just 1.4% away from its most recent record high, which was set in September. The index has been tacking on more gains since closing out its best quarter in nearly a decade, with a 13.1% rise in the first three months of the year.

On Friday, traders drew encouragement from the government's latest monthly tally of hiring.

The Labor Department said that U.S. employers added 196,000 jobs last month, more than economists had forecast. The strong rebound suggests the prior month's jobs report, which was shockingly weak, may have been an aberration and that the economy can continue to grow, albeit at a slower pace.

"This is another green shoot of growth," Steve Chiavarone, portfolio manager and equity strategist at Federated Investors, who pointed to other encouraging data about the U.S. and China's economies from recent weeks. He expects economic growth to re-accelerate after hitting a bottom in the first part of 2009.

And with the Fed on record saying it may not raise rates at all this year, after having done so four times in 2018, "good news now is just good news," Chiavarone said.

That's unlike prior market scares, when investors saw strong data as bad news because it could encourage a more aggressive Fed. The mentality flipped earlier this year after the Fed said it may not raise rates at all this year after raising them four times in 2018.

The unemployment rate last month remained near a 50-year low of 3.8%. Average hourly earnings rose 3.2% in March from a year earlier, which was weaker than economists' forecasts. Markets pay close attention to the numbers because while higher wages help workers afford to buy more things, they also crimp corporate profit margins.

Profitability is one of the market's top concerns as companies line up to begin reporting their first-quarter results next week.

Analysts expect companies in the S&P 500 to report a nearly 4% drop in earnings per share from a year earlier, which would be the first decline since the spring of 2016.

The expected drop in profits is due almost entirely to weaker profit margins. Analysts are forecasting that revenue grew nearly 5% for S&P 500 companies during the quarter. Companies are holding on to less of each $1 of revenue as profit than a year ago, analysts say.

Health care and technology companies helped pulled the market higher Friday. Cigna rose 2.9% and Lam Research added 2.2%.

Energy stocks in the S&P 500 jumped 1.7%, by far the biggest gain among the 11 sectors that make up the index.

Apache jumped 6.6%, EOG Resources rose 5.3% and Anadarko Petroleum added 4.3% as energy-related stocks plowed higher with the price of crude oil.

The strong jobs report helped expectations for oil demand, and benchmark U.S. crude rose 1.6% to settle at $63.08 a barrel. Brent crude, the international standard, added 1.4% to close at $70.34.

Treasury yields wavered following the jobs report.

The yield on the 10-year Treasury tends to rise and fall with expectations for the U.S. economy and inflation, and it had been largely falling since last autumn as worries about a possible recession grew. After hitting a bottom at 2.37% last week, though, it had begun to recover.

On Friday, the yield on the 10-year Treasury climbed as high as 2.54% in the minutes following the job report's release, up from 2.51% late Thursday. But the gains evaporated, and it subsequently dipped down to 2.49%.

The yield on the two-year Treasury, whose movements are more closely tied to the Fed's actions, also bounced up and down following the jobs report. It rose to 2.33% from 2.32% late Thursday.

Major indexes in Europe finished higher, led by Britain's FTSE 100. The index rose 0.6% after Prime Minister Theresa May requested a further Brexit extension from the European Union until June 30 to give the U.K. breathing room since it is now scheduled to leave the bloc in just one week.

European Council President Donald Tusk proposed a longer time frame, urging the 27 other EU nations to offer the U.K. a flexible extension of up to a year to make sure the nation doesn't crash out of the bloc in a chaotic and costly way.

The CAC 40 in France and Germany's DAX each rose 0.2%.

The dollar rose to 111.71 yen from 111.58 yen on Thursday. The euro weakened to $1.1218 from $1.1221.

Gold inched 0.1% higher to $1,295.60 an ounce, silver was little changed at $15.09 an ounce and copper fell 0.5% to $2.89 a pound.

In other energy futures trading, wholesale gasoline rose 1.5% to $1.97 a gallon, heating oil picked up 1.4% to $2.04 a gallon and natural gas gained 0.8% to $2.66 per 1,000 cubic feet.

6439


----------



## bigdog

U.S. stock indexes took a round trip Monday, erasing their early-morning losses to end the day close to where they started.

The S&P 500 eked out a small gain, enough to prolong its winning streak to eight days, its longest in a year and a half. But the Dow Jones Industrial Average ended lower due to another big loss for Boeing.

Most stock movements were only modest, and the market was nearly evenly split between winners and losers as investors looked ahead to a busy week for markets with updates scheduled for corporate earnings, the U.S. economy and global trade.










https://www.usnews.com/news/busines...ixed-after-china-us-trade-talks-show-progress

*S&P 500 Ekes Out Gain, Enough to Extend Winning Streak*
U.S. stock indexes pulled back on Monday, putting at least a temporary halt to their weekslong advance, ahead of a busy week for markets.
April 8, 2019, at 4:35 p.m

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stock indexes took a round trip Monday, erasing their early-morning losses to end the day close to where they started.

The S&P 500 eked out a small gain, enough to prolong its winning streak to eight days, its longest in a year and a half. But the Dow Jones Industrial Average ended lower due to another big loss for Boeing.

Most stock movements were only modest, and the market was nearly evenly split between winners and losers as investors looked ahead to a busy week for markets with updates scheduled for corporate earnings, the U.S. economy and global trade.

The S&P 500 rose 3.03 points, or 0.1%, to 2,895.77. It climbed to within 1.2% of its record, which was set in September, and had been down as much as 0.4% in morning trading.

The Dow slipped 83.97, or 0.3%, to 26,341.02, and the Nasdaq gained 15.19, or 0.2%, to 7,953.88. The Russell 2000 index of small-cap stocks fell 3.55, or 0.2%, to 1,579.00.

Boeing was one of the biggest movers on the quiet Monday, slumping 4.4% after saying late Friday that it will cut production of its 737 Max plane. Regulators around the world grounded the jet model after it was involved in two separate fatal crashes that occurred within weeks of each other.

Boeing's struggles have dragged on other stocks, including its customers and its suppliers. Spirit AeroSystems Holdings, an aerospace supplier, fell 5.1%, and Southwest Airlines lost 2.5%.

On the winning side were energy stocks, which benefited from yet another climb for the price of oil.

Since hitting a bottom below $43 per barrel in December, benchmark U.S. crude has gained more than $20. It rose $1.32 to settle at $64.40 per barrel Monday. Brent crude rose 76 cents to $71.10 per barrel.

The gains helped send energy stocks in the S&P 500 index 0.5% higher, the biggest gain among the 11 sectors that make up the index.

The market's trend has been decidedly upward in recent weeks as stocks have grinded higher, mostly in small increments. It follows a torrid start to the year, after the Federal Reserve eased fears about a recession by saying it may not raise interest rates at all in 2019.

Later this week, investors will get more clues about the Fed's intentions. The central bank will release the minutes from its last policy meeting on Wednesday, and a report on consumer prices the same day will show whether inflation remains modest, which would give the Fed more leeway to keep interest rates low.

Earnings reporting season will begin in earnest at the end of this week, with JPMorgan Chase and other big banks set to tell investors how much they earned during the first three months of the year. Expectations are low for the market broadly, and analysts are forecasting the first drop in S&P 500 profits in years.

That puts more focus on what CEOs say about their profit prospects for the rest of the year. Analysts are expecting profit growth to resume after the weak first quarter, and if CEOs undercut those beliefs, it would put downward pressure on stock prices.

"We're watching the earnings and the drivers of earnings," said Doug Ramsey, chief investment officer of Leuthold Group. He's paying particular attention to how much in profit companies are able to hold onto from each $1 in revenue, as wages and interest expenses on their debts rise.

Investors are also watching across the Atlantic, as the U.K. prime minister prepares to meet continental European leaders ahead of a Friday deadline, when the United Kingdom is scheduled to depart the European Union. Economists worry about the drag on trade and the economy if the departure happens without a withdrawal agreement.

All this comes against a backdrop of heightened worries about global economic growth and a global trade war. Growth has slowed, and investors are debating how much last week's stronger-than-expected report on U.S. jobs changes the picture.

China's official news agency said Sunday that trade talks with the U.S. in Washington last week "achieved new progress" but did not elaborate on where or when further discussions will happen. Beijing and Washington are working to end a standoff over Beijing's industrial and technology policies that has shaken financial markets and darkened the world economic outlook.

Overseas markets were mixed Monday. The FTSE 100 in London rose 0.1%, while France's CAC 40 slipped 0.1% and Germany's DAX lost 0.4%. Japan's Nikkei 225 slipped 0.2%, the Hang Seng in Hong Kong rose 0.5% and the Kospi in South Korea was virtually flat.

The dollar slipped to 111.53 Japanese yen from 111.71 yen late Friday. The euro rose to $1.1261 from $1.1218, and the British pound climbed to $1.3066 from $1.3029.

In commodities markets, gold rose $6.30 to $1,301.90 per ounce, silver gained 13 cents to $15.22 per ounce and copper rose 4 cents to $2.93 per pound. Natural gas rose 4 cents to $2.71 per 1,000 cubic feet, heating oil gained 1 cent to $2.06 per gallon and wholesale gasoline rose 2 cents to $1.99 per gallon.

The yield on the 10-year Treasury note ticked up to 2.52% from 2.50% late Friday.


----------



## bigdog

Industrial companies led a broad slide in stocks on Wall Street Tuesday, ending the benchmark S&P 500's eight-day winning streak.

The sell-off came as traders weighed growing trade tensions between the U.S. and the European Union, and a report forecasting dimmer global economic growth this year.

Banks and technology companies also lost ground. Only utilities and communications service providers, a broad category that includes entertainment, telecommunications and internet companies, notched gains.










https://www.usnews.com/news/business/articles/2019-04-09/asian-markets-follow-wall-street-higher

*US Stocks Close Lower, Ending 8-Day Win Streak for S&P 500*
Industrial companies led a broad slide in stocks on Wall Street Tuesday, ending the benchmark S&P 500's eight-day winning streak.
April 9, 2019, at 4:57 p.m.

By ALEX VEIGA, AP Business Writer

Industrial companies led a broad slide in stocks on Wall Street Tuesday, ending the benchmark S&P 500's eight-day winning streak.

The sell-off came as traders weighed growing trade tensions between the U.S. and the European Union, and a report forecasting dimmer global economic growth this year.

Banks and technology companies also lost ground. Only utilities and communications service providers, a broad category that includes entertainment, telecommunications and internet companies, notched gains.

Smaller company stocks fell more than the rest of the market. Bond prices rose, sending yields lower, as investors moved money into safer holdings. The price of gold rose.

Tuesday's wave of selling marks a reversal for the market, which has been moving decidedly upward in recent weeks. The market is primed for more market-moving news this week, as the latest round of corporate earnings reports kicks off on Wednesday with Delta Air Lines. Several banks, including JPMorgan Chase, will release their first-quarter results on Friday. Analysts expect earnings for the S&P 500 to decline for the first time in almost three years.

"We're in the later stages of the economic cycle, so earnings are definitely needed to keep the momentum going," said Jennifer Green, global investment specialist at J.P. Morgan Private Bank. "We've seen a very nice run, so far year-to-date, so the next stage is listening to how the earnings come in and the outlook and the guidance that these companies give us."

The S&P 500 index fell 17.57 points, or 0.6%, to 2,878.20. The Dow Jones Industrial Average dropped 190.44 points, or 0.7%, to 26,150.58. The Nasdaq composite slid 44.61 points, or 0.6%, to 7,909.28. The Russell 2000 index of small-cap stocks gave up 19.32 points, or 1.2%, or 1,559.68.

European indexes also finished broadly lower, giving up early gains, after the U.S. threatened to impose $11.2 billion in tariffs on European products, including cheese, wine and helicopters.

The threat from President Donald Trump could make investors even more concerned about trade disputes hurting an already slowing global economy at a time when the U.S. is trying to resolve a trade conflict with China.

That spat has already made a list of goods more expensive for consumers and is weighing on an already slowing Chinese economy. Negotiators met again last week and both sides have said they are making progress.

Traders also were disappointed to see that the International Monetary Fund lowered its forecast for global growth this year. The IMF now projects 3.3% global growth in 2019, matching the weakest year since 2009. The U.S. fared particularly poorly in the report, with growth now expected at 2.3%, down from 2.9% in 2018.

Even against the backdrop of slowing global economic growth and a global trade war, U.S. stocks are off to a blockbuster start this year. The S&P 500 now sits just 1.8% away from its most recent record high, which was set in September. The index has been tacking on more gains since closing out its best quarter in nearly a decade, with a 13.1% rise in the first three months of the year.

The Federal Reserve eased fears about a recession by saying it may not raise interest rates at all in 2019.

Investors will get more clues about the Fed's intentions Wednesday, when the central bank releases minutes from its latest policy meeting. The European Central Bank will also meet Wednesday.

Pentair led the sell-off in industrial stocks Tuesday after the maker of pool and other aquatic products slashed its profit forecast for the year. Cold and wet weather weighed down sales in the first quarter for the company's pool equipment, which includes filters and pumps. It also sells equipment used for wells and water treatment facilities. The stock plunged 13.5%.

American Airlines Group fell 1.7% after the airline cut a key revenue measure because of grounded flights following Boeing's 737 Max troubles. Regulators grounded Boeing's 737 Max jets following two deadly international crashes. That included 24 planes in American Airlines' fleet. The airline also cited the lingering impact from a government shutdown for the lower revenue estimate.

Wynn Resorts slid 3.9% after the casino operator pulled out of a potential buyout of Australia's Crown Resorts. The company cited the "premature disclosure of preliminary discussions" as the reason. The move would have given Wynn a wider global reach.

Bond prices rose, sending yields lower. The yield on the benchmark 10-year Treasury fell to 2.50% from 2.52% late Monday.

Energy futures ended mostly lower. Benchmark U.S. crude fell 0.7% to settle at $63.98 a barrel. Brent crude also dropped 0.7% to close at $70.61 a barrel.

Wholesale gasoline rose 0.6% to $2 a gallon, heating oil gave up 0.6% to $2.04 a gallon and natural gas dropped 0.3% to $2.70 per 1,000 cubic feet.

The dollar fell to 111.11 yen from 111.53 yen on Monday. The euro strengthened to $1.1267 from $1.1261.

Gold rose 0.5% to $1,308.30 an ounce, silver was little changed at $15.21 an ounce and copper gained 0.1% to $2.93 a pound.


----------



## bigdog

Stocks closed higher on Wall Street Wednesday as solid gains by technology companies helped the market recoup some of its losses from a day earlier.

Small-company stocks also stood out, beating the rest of the market. Banks, retailers and homebuilders also notched gains. Utilities were the biggest laggard.

Investors appeared to welcome new insights from the Federal Reserve's last meeting of policymakers. The central bank released the minutes from the two-day March meeting, which showed that a majority of Fed officials believed the central bank could keep interest rates unchanged the rest of this year.

The rally was a reversal for the market following a slide on Tuesday that ended an eight-day winning streak as investors turned their attention to the next wave of corporate earnings.










https://www.usnews.com/news/busines...ixed-amid-world-tensions-worries-about-growth

*Tech Companies Lead US Stocks Broadly Higher*
Stocks closed higher on Wall Street Wednesday as solid gains by technology companies helped the market recoup some of its losses from a day earlier.
April 10, 2019, at 5:21 p.m.

By ALEX VEIGA, AP Business Writer

Stocks closed higher on Wall Street Wednesday as solid gains by technology companies helped the market recoup some of its losses from a day earlier.

Small-company stocks also stood out, beating the rest of the market. Banks, retailers and homebuilders also notched gains. Utilities were the biggest laggard.

Investors appeared to welcome new insights from the Federal Reserve's last meeting of policymakers. The central bank released the minutes from the two-day March meeting, which showed that a majority of Fed officials believed the central bank could keep interest rates unchanged the rest of this year.

The rally was a reversal for the market following a slide on Tuesday that ended an eight-day winning streak as investors turned their attention to the next wave of corporate earnings.

"It was just a little bit of an overreaction yesterday," said Karyn Cavanaugh, senior markets strategist at Voya Investment Management. "This is a little bit of an uneasy period because we're waiting for earnings to start."

The S&P 500 index rose 10.01 points, or 0.3%, to 2,888.21.

The 30-stock Dow Jones Industrial Average recovered from an early slide to gain 6.58 points, or less than 0.1%, to 26,157.16.

The Nasdaq, which is heavily weighted with technology stocks, added 54.97 points, or 0.7%, to 7,964.24.

Small-company stocks, which investors tend to favor when they're feeling bullish about the economy, rose more than the rest of the market. The Russell 2000 picked up 21.87 points, or 1.4%, to 1,581.55.

Major indexes in Europe finished mostly higher.

Despite a downturn in stocks on Tuesday, the broader market has been steadily gaining in 2019. The S&P 500 is up 15.2% for the year.

Bond prices rose, sending yields lower, after the government reported that a key measure of consumer price inflation remained in check last month. The yield on the 10-year Treasury note, which is used to set interest rates on mortgages and many other kinds of loans, fell to 2.47% from 2.50% late Tuesday.

Traders turned their attention Wednesday to corporate earnings, as Delta Air Lines kicked off the first-quarter earnings reporting season. The company's results easily beat forecasts, sending its shares and those of other big airlines higher.

Levi Strauss also gained 4% after swinging to a quarterly profit in its first period since becoming a publicly traded company again.

Analysts expect first-quarter earnings for the S&P 500 index to contract for the first time in nearly three years and are closely tracking forecasts for the remainder of the 2019.

"Earnings are going to really be the barometer for what's going on with global growth," Cavanaugh said. "A lot of people are expecting negative earnings growth. I think we're going to be positively surprised, and that will help investors feel a little bit more at ease."

Investors also pored over the latest Fed meeting minutes, looking for clues that might signal the central bank's next move on interest rates.

The minutes showed that a majority of Fed officials last month believed that economic conditions would likely warrant keeping the Fed's benchmark policy unchanged for the rest of this year. Several officials said their view could shift in either direction based on incoming data, according to minutes of the meeting.

At the meeting, the Fed left its key policy rate unchanged and trimmed its rate hikes outlook this year from two to none. Some economists believe the Fed could actually start cutting rates later this year if the economy slows further.

Weaker growth and lower inflation expectations could prompt the Fed to cut rates, while faster growth and rising inflation expectations could prompt it to resume raising rates.

"This is a data-dependent Fed, and that's very positive and very good," said Tony Roth, chief investment officer at Wilmington Trust.

Meanwhile, the European Central Bank left its policy goals and interest rates unchanged Wednesday as it weighs looming risks to the region's economy from trade disputes.

Technology stocks led the market higher Wednesday. Chipmaker Advanced Micro Devices rose 2.2%.

Financial companies also notched gains. Invesco climbed 2.4% and Goldman Sachs Group rose 1.2%.

Delta Air Lines shares lifted off after it gave investors a better than-expected quarterly report and forecast. The stock jumped as much as 2% before giving up some of its early gains. It shares gained 1.6%.

Shares in other airlines also rose. American Airlines Group gained 2.1% and Southwest Airlines added 1.4%.

Not all corporate report cards were encouraging.

WD-40, which makes the popular lubricant for home and industrial uses, fell 5.1% after its fiscal second-quarter revenue fell short of Wall Street forecasts.

Lyft tumbled 10.9%, adding to a string of losses since the ride-hailing service made its stock market debut on March 29. The latest slide in the stock, which is now 16.5% below Lyft's IPO price, comes as rival Uber is reportedly close to filing paperwork ahead of its own IPO.

Energy futures ended mostly higher. Benchmark U.S. crude rose 1% to settle at $64.61 a barrel. Brent crude gained 1.6% to close at $71.73 a barrel.

Wholesale gasoline climbed 3.5% to $2.07 a gallon, heating oil picked up 2.1% to $2.09 a gallon and natural gas was little changed at $2.70 per 1,000 cubic feet.

The dollar fell to 110.96 yen from 111.11 yen on Tuesday. The euro strengthened to $1.1271 from $1.1267.

Gold rose 0.4% to $1,313.90 an ounce, silver added 0.2% to $15.24 an ounce and copper dropped 0.3% to $2.93 a pound.


----------



## bigdog

The major U.S. stock indexes closed unevenly Thursday after an early rally gave way to a mostly sideways day of trading on Wall Street.

Losses in health care stocks mostly offset gains in industrial companies, banks and elsewhere in the market. Insurers UnitedHealth Group and Anthem led the sector's slide. Technology stocks also fell.

The listless day of trading came as investors looked ahead to Friday, when major banks, including Wells Fargo and JPMorgan Chase, are due to report their first-quarter results. The banks will pave the way for a potentially market-moving wave of company earnings reports the next few weeks.










https://www.usnews.com/news/busines...all-as-fed-minutes-show-data-may-tweak-stance

*Stocks Struggle to a Mixed Finish After Early Rally Sputters*
The major U.S. stock indexes closed unevenly Thursday after an early rally gave way to a mostly sideways day of trading on Wall Street.
April 11, 2019, at 5:11 p.m. 

By ALEX VEIGA, AP Business Writer

The major U.S. stock indexes closed unevenly Thursday after an early rally gave way to a mostly sideways day of trading on Wall Street.

Losses in health care stocks mostly offset gains in industrial companies, banks and elsewhere in the market. Insurers UnitedHealth Group and Anthem led the sector's slide. Technology stocks also fell.

The listless day of trading came as investors looked ahead to Friday, when major banks, including Wells Fargo and JPMorgan Chase, are due to report their first-quarter results. The banks will pave the way for a potentially market-moving wave of company earnings reports the next few weeks.

"For the better part here of five trading days we've been up and down just a little bit, and not really making any progress," said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. "A lot of that is you're really waiting for earnings season."

The S&P 500 index eked out a tiny gain, adding 0.11 points, or less than 0.1%, to 2,888.32.

The Dow Jones Industrial Average fell 14.11 points, or 0.1%, to 26,143.05. The Nasdaq composite slid 16.88 points, or 0.2%, to 7,947.36. The Russell 2000 gave up 2.41 points, or 0.2%, to 1,579.14.

More stocks rose than fell on the New York Stock Exchange. Major European indexes closed mostly higher.

Stocks initially moved modestly higher as investors welcomed an encouraging report from the Labor Department, which said applications for unemployment aid declined last week to 196,000, the lowest level since October 1969.

By midmorning, the major stock indexes turned slightly lower, however, and then held steady for much of the day before a late-afternoon flurry of buying left the S&P 500 with a minuscule gain. The index is up 15.2% for the year.

The stock indexes' mixed performance Thursday means the market gave back some of the ground it won a day earlier, after minutes from the latest Federal Reserve meeting showed that the majority of officials want to keep interest rates unchanged in 2019. Investors want the central bank to take a more laid-back approach to avoid triggering a market slump.

Beyond the Fed, traders are squarely focused on company earnings reports the next few weeks in hopes of gleaning fresh clues about the trajectory of the economy and corporate profits.

Analysts expect companies in the S&P 500 to report a 3.3% drop in earnings per share from a year earlier, which would be the first decline since the spring of 2016. The expected drop in profits is due almost entirely to weaker profit margins.

Quarterly results from a couple of companies this week have been encouraging.

Fastenal led gains in industrial stocks Thursday after the maker of fasteners, nails and other hardware delivered better-than-expected quarterly results. The stock climbed 5%. Delta led a rally in airline stocks Wednesday after reporting solids results.

Financial stocks also held on to their early gains Thursday. Unum Group rose 2.7%.

Health insurers were among the biggest decliners as the health care sector took heavy losses. UnitedHealth Group fell 4.3%, Anthem dropped 4.1%, Humana slid 2.2% and Cigna lost 2.55. The sector is up 4.8% this year, lagging the S&P 500 other 10 sectors.

"Health care was really strong last year then started to roll over and has been falling out of favor among the sectors," said Willie Delwiche, investment strategist at Baird. "It has the worst year-to-date performance, and that was prior to today's weakness."

Tesla slid 2.8% following news reports that the electric maker would hold off on a key battery plant expansion in the U.S. The stalled expansion follows Tesla's report earlier in April of a first-quarter slowdown in production and demand.

Bed Bath & Beyond, which has been struggling recently and is being targeted by a number of activist investors, slumped 8.8% in heavy trading after the company reported a drop in a key sales measure that was worse than analysts were expecting.

Two technology companies hit the market running Thursday. PagerDuty soared 59.4% in its first day of trading as a public company, and Tufin Software surged 36.4%. The Israel-based company provides network security software.

After trading closed, ride-hailing giant Uber filed paperwork to make its own highly anticipated initial public offering of stock.

Bond prices fell. The yield on the benchmark 10-year Treasury rose to 2.50% from 2.47% late Wednesday.

Energy futures ended broadly lower. Benchmark U.S. crude fell 1.6% to settle at $63.58 a barrel. Brent crude lost 1.3% to close at $70.83 a barrel.

Wholesale gasoline slid 1.9% to $2.03 a gallon, heating oil gave up 1% to $2.07 a gallon and natural gas dropped 1.3% to $2.66 per 1,000 cubic feet.

The dollar rose to 111.66 yen from 110.96 yen on Wednesday. The euro weakened to $1.1258 from $1.1271.

Gold fell 1.6% to $1,293.30 an ounce, silver slid 2.5% to $14.87 an ounce and copper dropped 1.3% to $2.89 a pound.


----------



## bigdog

Stocks notched solid gains on Wall Street Friday, erasing most of the losses the market sustained after an uneven week of trading.

The strong finish gave the S&P 500 its third straight weekly gain. The benchmark index is now just under 1% from its most recent all-time high set on September 20, reflecting the strong rebound for the market this year after a dismal slide in December.

Banks led the gains Friday after a solid quarterly profit report from JPMorgan Chase opened the latest round of highly anticipated company earnings. Banks have been benefiting from higher interest rates, which allow them to book fatter profits from making loans.










https://www.usnews.com/news/busines...n-stocks-mixed-after-listless-wall-street-day

*S&P 500 Notches 3rd Straight Weekly Gain as US Stocks Rally*
Stocks notched solid gains on Wall Street Friday, erasing most of the losses the market sustained after an uneven week of trading.
April 12, 2019, at 5:00 p.m.

By ALEX VEIGA, AP Business Writer

Stocks notched solid gains on Wall Street Friday, erasing most of the losses the market sustained after an uneven week of trading.

The strong finish gave the S&P 500 its third straight weekly gain. The benchmark index is now just under 1% from its most recent all-time high set on September 20, reflecting the strong rebound for the market this year after a dismal slide in December.

Banks led the gains Friday after a solid quarterly profit report from JPMorgan Chase opened the latest round of highly anticipated company earnings. Banks have been benefiting from higher interest rates, which allow them to book fatter profits from making loans.

Disney surged to an all-time high after it announced plans to offer its own video streaming service. Disney will be going head-to-head with Netflix, which declined.

The market was coming off a wobbly week as investors worried that the early first-quarter earnings reports would come in even weaker than the low expectations analysts already have.

The solid results from major banks Friday were encouraging, but investors need to see more, said Sam Stovall, chief investment strategist at CFRA.

"In general, you need to have the financial companies participate in order for a market advance to continue," Stovall said. "Investors will be waiting, listening for other news that would be beneficial not only to banks, but to industrial and technology stocks."

The S&P 500 index rose 19.09 points, or 0.7%, to 2,907.41. The Dow Jones Industrial Average climbed 269.25 points, or 1%, to 26,412.30. The average still finished slightly lower for the week.

The Nasdaq composite gained 36.80 points, or 0.5%, to 7,984.16. The Russell 2000 index of smaller-company stocks picked up 5.66 points, or 0.4%, to 1,584.80.

Bond prices fell. The yield on the benchmark 10-year Treasury rose to 2.56% from 2.50% late Thursday.

Indexes in Europe and Asia closed broadly higher.

In addition to banks, technology, communications and industrial companies helped lift U.S. stocks Friday. Health care was the only sector to lose ground. So far this year, it's lagging the other 10 sectors in the S&P 500.

The market got an early boost from new economic data out of China showing the world's second-largest economy benefited from a surge in exports last month, even as Beijing and Washington continued to negotiate a resolution to their costly trade war.

The gain marks a turnaround from a severe contraction in February and helped put investor fears over a global economic slowdown in check.

The data on Chinese exports suggests that growth is potentially going to rebound, said Tom Martin, senior portfolio manager with Globalt Investments.

"It wasn't as bad as people had expected it might be," he said.

Investors will be focusing over the next few weeks on company earnings reports in hopes of gleaning clues about the trajectory of the U.S. economy and corporate profits. Citigroup, UnitedHealth Group and Johnson & Johnson are among the larger companies releasing results next week.

Analysts expect companies in the S&P 500 to report a 3.4% drop in earnings per share from a year earlier, which would be the first decline since the spring of 2016. The expected drop in profits is due almost entirely to weaker profit margins.

Traders were encouraged Friday by JPMorgan's quarterly report card. The investment banking giant rose 4.7% after it reported solid profits for the first quarter.

Wells Fargo initially rose after its results beat analysts' forecasts, but its shares turned lower by midmorning and never recovered. The stock fell 2.6%.

JPMorgan and Wells Fargo's latest results show that higher interest rates during the quarter drove increases in revenue. Those higher rates allow banks and financial companies to charge more for loans and credit cards.

The trend helped boost shares in other major banks. Goldman Sachs picked up 2.5%, Bank of America added 3.8% and Citigroup rose 2.3%.

Disney surged 11.5% after it released plans to offer a streaming entertainment service dubbed Disney Plus. The service is scheduled to roll out on November 12 at $6.99 per month. That's well below the $13 monthly price tag for rival Netflix, whose stock fell 4.5%.

Disney ended a lucrative licensing relationship with Netflix in order to create the streaming service. It faces challenges as it builds a service to compete with the entrenched streaming leaders, which also include HBO Go and Showtime.

Energy companies rose Friday after Chevron said it would pay $33 billion to buy rival Anadarko Petroleum. The sector has been rising as oil prices have surged about 40% so far this year, sending energy company revenues higher and giving them more funds for investment.

Anadarko vaulted 32%. Among other big gainers in the sector, Pioneer Natural Resources jumped 11.5% and Devon Energy climbed 7.4%. Chevron was one of the sector's few decliners, dropping 4.9%.

Energy futures closed mostly higher. Benchmark U.S. crude rose 0.5% to settle at $63.89 a barrel. Brent crude gained 1% to close at $71.55 a barrel.

Wholesale gasoline added 0.3% to $2.04 a gallon, heating oil picked up 0.2% to $2.07 a gallon and natural gas dropped 0.2% to $2.66 per 1,000 cubic feet.

The dollar rose to 112.08 yen from 111.66 yen on Thursday. The euro strengthened to $1.1296 from $1.1258.

Gold inched 0.1% higher to $1,295.20 an ounce, silver added 0.6% to $14.96 an ounce and copper rose 2% to $2.95 a pound.

6867


----------



## bigdog

U.S. stock indexes edged lower on Monday, pulled down by sinking bank stocks, and the S&P 500 fell for just the third time in the last three weeks.

Goldman Sachs recorded one of the largest losses in the S&P 500 after describing a "muted start to the year," even though its earnings for the first quarter still beat analysts' expectations. Citigroup also slipped following its earnings report, as banks lead off a quarterly reporting season that analysts expect to be the weakest in nearly three years.

The S&P 500 lost 1.83 points, or 0.1%, to 2,905.58. The Dow Jones Industrial Average fell 27.53, or 0.1%, to 26,384.77, and the Nasdaq composite lost 8.15, or 0.1%, to 7,976.01. The Russell 2000 index of small-cap stocks dropped 5.63, or 0.4%, to 1,579.17.










https://www.usnews.com/news/busines...rld-stocks-mixed-as-us-china-move-toward-deal

*S&P 500 Falls to Rare Loss, Hurt by Weak Bank Stocks*
Falling bank stocks pulled U.S. indexes lower on Monday, and the S&P 500 fell for just the third time in the last three weeks.
April 15, 2019, at 4:39 p.m.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stock indexes edged lower on Monday, pulled down by sinking bank stocks, and the S&P 500 fell for just the third time in the last three weeks.

Goldman Sachs recorded one of the largest losses in the S&P 500 after describing a "muted start to the year," even though its earnings for the first quarter still beat analysts' expectations. Citigroup also slipped following its earnings report, as banks lead off a quarterly reporting season that analysts expect to be the weakest in nearly three years.

The S&P 500 lost 1.83 points, or 0.1%, to 2,905.58. The Dow Jones Industrial Average fell 27.53, or 0.1%, to 26,384.77, and the Nasdaq composite lost 8.15, or 0.1%, to 7,976.01. The Russell 2000 index of small-cap stocks dropped 5.63, or 0.4%, to 1,579.17.

The S&P 500 nevertheless remains within 0.9% of its record following its torrid start to the year, after the Federal Reserve said it may not raise interest rates at all in 2019.

"I think we're going to see equities continue to confound their critics and advance," said Margie Patel, senior portfolio manager at Wells Fargo Asset Management.

She expects growth for both the economy and corporate earnings to reaccelerate later this year, in large part because of the Federal Reserve's pledge to hit pause on interest rate hikes. That follows seven increases in the last two years, including the last one in December, that raised worries about a possible recession and helped send the S&P 500 to a nearly 20% loss at one point.

"If you look through history, recessions have been precipitated by the Federal Reserve tightening and causing recessions — telling banks, 'Don't make loans' and pulling out liquidity," she said. "This time, they got right up to the brink, and when the market had that violent reaction in December, that made them rethink their approach."

Optimism has also grown that the U.S. and China can resolve their trade dispute. U.S. Treasury Secretary Steven Mnuchin said Saturday that the world's two largest economies were moving closer to an agreement.

Some of the market's biggest losses Monday came from the financial sector. Lighter trading activity during the first three months of the year meant that Goldman Sachs' revenue fell short of analysts' estimates, and its shares lost 3.8%.

Like Goldman Sachs, Citigroup also reported stronger profit for the first three months than analysts expected. But its stock slipped 0.1%.

Alliance Data Systems sank to the largest loss in the S&P 500 after it agreed to sell its Epsilon business to Publicis Groupe for $4.4 billion in cash, less than what some analysts had valued the business at. Alliance Data Systems lost 9.3%.

On the winning side was Waste Management, which jumped after it agreed to buy its smaller rival, Advanced Disposal, for $3 billion. It will also assume $1.9 billion of debt in the deal.

Waste Management rose 2.4%, and Advanced Disposal surged 17.9%.

The yield on the 10 year Treasury note held steady at 2.55%. It has been climbing since late last month, when it fell to 2.37% amid a crescendo of worries that global economic growth was slowing.

Asian stock markets were mixed, with the Nikkei 225 in Tokyo jumping 1.4%, South Korea's Kospi gaining 0.4% and the Hang Seng in Hong Kong losing 0.3%.

European markets were listless. The FTSE 100 in London was virtually flat, and the French CAC 40 rose 0.1%, while Germany's DAX was up 0.2%.

In the commodities markets, the price of oil gave back some of its big gains for the year. Benchmark U.S. crude oil fell 49 cents to settle at $63.40. Brent crude, the international standard, fell 37 cents to $71.18. Both remain up more than 30% for the year.

Natural gas slipped 7 cents to $2.59 per 1,000 cubic feet, heating oil slipped a penny to $2.06 per gallon and wholesale gasoline fell 3 cents to $2.01 per gallon.

Gold fell $3.90 to $1,291.30 per ounce, silver rose a penny to $14.98 per ounce and copper slipped 1 cent to $2.94 per pound.

The dollar slipped to 112.03 Japanese yen from 112.08 yen late Friday. The euro rose to $1.1304 from $1.1296, and the British pound inched up to $1.0041 from $1.0029.


----------



## bigdog

*SEA OF GREEN TODAY*

Stocks closed slightly higher on Wall Street Tuesday, erasing the market's modest losses from a day earlier.

The gains, which followed a rally in overseas stock indexes, came as investors sized up the latest batch of company earnings reports.

Financial stocks led the way higher as bond yields rose, which drives interest rates higher, enabling banks to make more money on loans. BlackRock and Progressive led the sector after each company reported solid quarterly results.










https://www.usnews.com/news/busines...dvance-as-shanghai-rebounds-from-early-losses

*Banks Lead US Stocks to Slight Gains Amid Mixed Earnings*
Stocks closed slightly higher on Wall Street Tuesday, erasing the market's modest losses from a day earlier.
April 16, 2019, at 5:00 p.m. 

By ALEX VEIGA, AP Business Writer

Stocks closed slightly higher on Wall Street Tuesday, erasing the market's modest losses from a day earlier.

The gains, which followed a rally in overseas stock indexes, came as investors sized up the latest batch of company earnings reports.

Financial stocks led the way higher as bond yields rose, which drives interest rates higher, enabling banks to make more money on loans. BlackRock and Progressive led the sector after each company reported solid quarterly results.

Qualcomm powered technology sector stocks higher, notching its best day in 20 years, on news the chipmaker and Apple settled their bitter legal dispute.

Investors are looking to the latest wave of corporate earnings reports over the next few weeks for clues about the health of the global economy and the prospects for company profits this year.

Analysts expect the first-quarter results for S&P 500 companies overall to be the weakest in nearly three years.

"The markets are prepared for this year-over-year decline that everyone is expecting in earnings," said Erik Davidson, chief investment officer at Wells Fargo Private Bank. "Unless we have some significant misses, we should be doing OK."

The S&P 500 rose 1.48 points, or 0.1%, to 2,907.06. The Dow Jones Industrial Average gained 67.89 points, or 0.3%, to 26,452.66. The Nasdaq composite added 24.21 points, or 0.3%, to 8,000.23. The index had not closed above 8,000 points since October.

The Russell 2000 index of small-cap stocks picked up 3.62 points, or 0.2%, to 1,582.79.

Overseas stock indexes rallied on upbeat economic data from China and Germany. Markets in Asia and Europe finished higher.

U.S. stocks have had a torrid start to the year after the Federal Reserve said it may not raise interest rates at all in 2019. The benchmark S&P 500 remains within 0.8% of its most recent all-time high on September 20.

"Investors should take some comfort, because we have over those six months seen some pretty significant earnings growth and we're likely to continue to see it." Davidson said.

What investors take away from the slew of company earnings reports over the next few weeks will likely be a key driver of the market's move from here.

Analysts expect companies in the S&P 500 to report a 2.9% drop in earnings per share for the first quarter versus a year earlier, which would be the first decline since the spring of 2016. The expected decline is due almost entirely to weaker profit margins.

Banks kicked off the latest quarterly reporting season last week with mixed results. Analysts expect the first-quarter results for S&P 500 companies overall to be the weakest in nearly three years.

Companies that posted encouraging results helped put traders in a buying mood Tuesday.

Progressive jumped 6.9% after the insurer's latest quarterly results topped analysts' forecasts. BlackRock gained 3.2% after the investment firm reported first quarter profit that surged past Wall Street forecasts as a rebounding market helped to increase assets.

Bank of America inched 0.1% higher after the nation's second-largest bank reported strong earnings growth, but gave a weak forecast for net interest income, a key performance metric for banks.

UnitedHealth Group, the nation's largest health insurance company, reported first-quarter results that exceeded analysts' expectations and raised its estimates for the full year. But cautious comments from management during a conference call with analysts weighed on the stock, which slumped 4%, giving up an early gain.

Other health insurers also fell. HCA Health care slumped 10%. Cigna slid 7.8% and Anthem lost 6.8%.

Johnson & Johnson bucked the broader declines in the health care sector. Shares in the world's biggest maker of health care products rose 1.1% after the company's first-quarter results topped Wall Street's forecasts, even after its profit slumped 14% following a decline in sales overseas and higher costs for research and litigation.

JB Hunt Transport Services fell 4.9% after the trucking and logistics company's first quarter profit and revenue fell short of analysts' expectations.

Qualcomm shares surged 23.2% after the chipmaker and Apple settled their bitter financial dispute centered on some of the technology that enables iPhones to connect to the internet.

The deal requires Apple to pay Qualcomm an undisclosed amount. It also includes a six-year licensing agreement that likely involves recurring payments to the mobile chip maker.

The surprise truce announced late Tuesday afternoon came just as the former allies turned antagonists were facing off in a federal court trial that was supposed to unfold over the next month in San Diego. The resolution abruptly ended that trial, which also involved Apple's key iPhone suppliers.

Scientific Games climbed 8% on news that the maker of betting machines and technology is partnering with Wynn Resorts to help develop digital sports betting and gambling. Wynn added 2.%.

The yield on the 10 year Treasury note rose to 2.59% from 2.55% late Monday. The 10 year Treasury yield has been climbing since late last month, when it fell to 2.37% amid a crescendo of worries that global economic growth was slowing.

Energy futures finished mostly higher. Benchmark U.S. crude oil rose 1% to settle at $64.05 per barrel. Brent crude, the international standard, added 0.8% to close at $71.72 per barrel.

Wholesale gasoline gained 1% to $2.03 per gallon, while heating oil picked up 1% to $2.08 per gallon. Natural gas slipped 0.7% to $2.57 per 1,000 cubic feet.

Gold fell 1.1% to $1,277.20 per ounce, silver dropped 0.4% to $14.92 per ounce and copper slipped 0.2% to $2.93 per pound.


----------



## bigdog

Stocks finished a wobbly day of trading on Wall Street Wednesday with modest losses that erased most of the market's slight gains from a day earlier.

A sharp sell-off in health care companies far outweighed gains in technology and other sectors. Smaller company stocks fell more than the rest of the market.

Insurers drove the health care sector slide for the second straight day. Investors fear the potential impact on profits from health reform ideas being discussed in Washington and on the presidential campaign trail.










https://www.usnews.com/news/busines...shares-mixed-after-encouraging-china-gdp-data

*Health Care Companies Lead US Stocks Lower; Small-Caps Slump*
Stocks finished a wobbly day of trading on Wall Street Wednesday with modest losses that erased most of the market's slight gains from a day earlier.
April 17, 2019, at 4:47 p.m.

By ALEX VEIGA, AP Business Writer

Stocks finished a wobbly day of trading on Wall Street Wednesday with modest losses that erased most of the market's slight gains from a day earlier.

A sharp sell-off in health care companies far outweighed gains in technology and other sectors. Smaller company stocks fell more than the rest of the market.

Insurers drove the health care sector slide for the second straight day. Investors fear the potential impact on profits from health reform ideas being discussed in Washington and on the presidential campaign trail.

Qualcomm led the gainers in the technology sector. Intel climbed after pulling out of the smartphone modem market. And T-Mobile and Sprint slumped on reports the Justice Department is questioning their proposed merger.

PepsiCo and Morgan Stanley rose after delivering better than expected quarterly results Wednesday. IBM and Netflix fell a day after reporting their earnings.

Investors are poring over company earning reports this week, focusing on companies' profit and revenue outlooks for the rest of this year. Analysts expect the first quarter results for S&P 500 companies overall to be the weakest in nearly three years.

"The market is in wait and see mode," said Jamie Lavin, global investment specialist at J.P. Morgan Private Bank. "We're only 10% through earnings season, but so far, so good."

The S&P 500 fell 6.61 points, or 0.2%, to 2,900.45. The Dow Jones Industrial Average dropped 3.12 points, or less than 0.1%, to 26,449.54.

The Nasdaq composite slid 4.15 points, or 0.1%, to 7,996.08. The Russell 2000 index of small-cap stocks gave up 15.19 points, or 1%, to 1,567.60.

European stock indexes finished higher. Decliners outnumbered gainers on the New York Stock Exchange.

Bond prices held steady. The yield on the 10 year Treasury note remained at 2.59%.

The market has rebounded strongly from a steep sell-off late last year. The Federal Reserve helped spur the market's rebound early this year when it said that it may not raise interest rates at all in 2019. The benchmark S&P 500 remains within 1.5% of its most recent all-time high on September 20.

Wednesday's downbeat finish on Wall Street followed uneven trading in global markets, despite news that China's economy grew at a better than expected 6.4% annual pace in the January-March quarter. The data suggests Beijing's efforts to halt a slowdown are working, but its economy is still growing at the weakest pace since 2009.

Several health insurers helped pull the market lower. Anthem gave up 3.6%, Cigna lost 3.7% and UnitedHealth Group slid 1.9%.

The losses pulled the health care sector into the red for the year with a loss of 0.9%. The other 10 sectors in the S&P 500 are up for the year.

All told, health care has fallen 4.5% so far this week.

The decline is partly due to investors favoring cyclical growth sectors, such as materials, energy and technology, at the expense of less risky seeming stocks.

More recently, presidential politics has hurt the sector. Democratic presidential candidates such as Sen. Bernie Sanders of Vermont, who is emerging as the early fundraising front-runner, has been making the case for a "Medicare for All" plan that could replace private coverage.

"There is a growing perception that the popularity of universal health care is growing among the electorate, forcing investors to take notice as the odds of meaningful regulation increase," Alec Young, managing director of global markets research at FTSE Russell, wrote in a research note Wednesday.

While the likelihood of a major health care overhaul remains relatively low, enough uncertainty exists that investors are now selling first and asking questions later, Young added.

Qualcomm led all stocks in the S&P 500, closing 12.2% higher. That adds to a 23% gain on Tuesday as traders welcomed news that the mobile chipmaker's bitter legal dispute with Apple has ended. It centered on technology that enables iPhones to connect to the internet. Apple rose 1.9%.

In a related move, Intel climbed 3.3% after pulling out of the market for 5G smartphone modems. The company said it will focus on opportunities in computer modems and other devices.

Sprint and T-Mobile shares fell after a Wall Street Journal report cast doubt on the likelihood of government approval of the companies' $26.5 billion merger.

The Journal said that Justice Department antitrust personnel reviewing the takeover questioned the companies' reasoning for it in a meeting this month. Talks between regulators and the companies are ongoing, according to the report, which cited unnamed people familiar with the matter.

Sprint shares slid 6.2%, while T-Mobile dropped 2.2%.

Several companies rose Wednesday as traders welcomed their latest quarterly report cards.

PepsiCo shares climbed 3.8% after the soda and snack maker reported better than expected first quarter profit and said earnings at its Frito-Lay division were particularly strong.

Morgan Stanley rose 2.6% after delivering better than expected results.

United Continental Holdings added 4.8% after the airline's first quarter profit doubled, beating forecasts as it carried more passengers and contained costs.

Railroad operator CSX gained 4% a day after it turned in quarterly results that topped Wall Street's forecasts on a mix of volume growth and lower costs.

IBM slid 4.2% and Netflix dropped 1.3% a day after both companies reported their earnings.

Energy futures finished mostly lower Wednesday. Benchmark U.S. crude oil fell 0.5% to settle at $63.76 per barrel. Brent crude, the international standard, inched 0.1% lower to close at $71.62 per barrel.

Wholesale gasoline gained 0.5% to $2.04 per gallon, while heating oil lost 0.6% to $2.07 per gallon. Natural gas fell 2.1% to $2.52 per 1,000 cubic feet.

Gold was little changed at $1,276.80 per ounce, silver rose 0.2% to $14.93 per ounce and copper climbed 1.3% to $2.97 per pound.

The dollar strengthened to 112.07 Japanese yen from 111.99 yen late Tuesday. The euro rose to $1.1298 from $1.1288.


----------



## bigdog

*The NYSE is closed for holiday on Good Friday April 19 and opens on Monday April 22*

The major U.S. stock indexes capped a holiday shortened week with slight gains Thursday, reversing some of the modest losses from a day earlier.

The marginal upward move was not enough to keep the benchmark S&P 500 index from snapping a string of three straight weekly gains.

Industrial sector stocks paved the way higher as traders welcomed solid earnings from Snap-on, Honeywell International, United Rentals and Union Pacific. Technology companies also notched solid gains, offsetting losses by financial and energy stocks.










https://www.usnews.com/news/busines.../asian-stocks-sink-after-wall-street-declines

*US Stocks Cap Holiday Shortened Week With Modest Gains*
The major U.S. stock indexes capped a holiday shortened week with slight gains Thursday, reversing some of the modest losses from a day earlier.
April 18, 2019, at 5:01 p.m.

By ALEX VEIGA, AP Business Writer

The major U.S. stock indexes capped a holiday shortened week with slight gains Thursday, reversing some of the modest losses from a day earlier.

The marginal upward move was not enough to keep the benchmark S&P 500 index from snapping a string of three straight weekly gains.

Industrial sector stocks paved the way higher as traders welcomed solid earnings from Snap-on, Honeywell International, United Rentals and Union Pacific. Technology companies also notched solid gains, offsetting losses by financial and energy stocks.

Traders gave a strong reception to Pinterest and Zoom Video Communications, two technology companies that made their widely anticipated stock market debuts. Cigarette makers fell on news that the U.S. Senate's majority leader plans to introduce legislation to raise the minimum age to buy tobacco products from 18 to 21.

Investors remain focused on company earnings as they look for clues about the health of the U.S. economy and the prospects for better corporate profits, a key driver of stock market gains. Analysts expect the wave of first quarter results for S&P 500 companies being reported over the next few weeks will be the weakest in nearly three years.

"The big takeaway over the past week is the U.S. is doing OK and (company) outlooks are initially reasonable," said Ben Phillips, chief investment officer at EventShares.

The S&P 500 gained 4.58 points, or 0.2%, to 2,905.03.

The Dow Jones Industrial Average rose 110 points, or 0.4%, to 26,559.54. The Nasdaq composite inched 1.98 points higher, or less than 0.1%, to 7,998.06.

The Russell 2000 index of small-cap dropped 1.85 points, or 0.1%, to 1,565.75.

Major European stock indexes finished mostly higher.

Bond prices rose. The yield on the 10 year Treasury fell to 2.56% from 2.59% late Wednesday.

The U.S. stock indexes struggled to maintain momentum for much of the day before locking in slight gains by the end of the day.

The market has been charting an uneven course all week as traders wade through company earnings reports.

Even so, stocks are still holding on to blockbuster gains after rebounding from a steep sell-off late last year. The S&P 500 remains within 1% of its most recent all-time high on September 20.

The Federal Reserve helped spur the market's rebound early this year when it said that it may not raise interest rates at all in 2019.

Still, investors are looking at company earnings as they divine which direction the stocks will churn next.

"We haven't really gotten to the meat of earnings season and (investors) want to see some really positive guidance and they want to make sure earnings are growing," said Karyn Cavanaugh, senior markets strategist at Voya Investment Management. "We have a high bar to jump over from last year, because in the first quarter we had that one-time tax bump."

Several industrial sector stocks surged after reporting solid quarterly results Thursday.

Snap-On climbed 6.5% after the tool and diagnostic equipment maker's first quarter profit beat forecasts and it reported growth in its U.S. franchise network.

Union Pacific gained 4.4% after the railroad's first quarter profit climbed 6% even though the company hauled 2% fewer carloads and dealt with massive flooding. Union Pacific's earnings topped analysts' estimates, though its revenue declined, falling short of analysts' forecasts.

United Rentals surged 8.1% after the construction equipment rental company's first quarter results beat Wall Street's expectations.

Honeywell International picked up 3.8% after its first quarter earnings topped analysts' forecasts thanks to a strong sales growth in aerospace, building technologies and other lines of business. The company also raised its earnings guidance for the year.

Results from other companies left traders wanting.

Skechers USA tumbled 10.4% after the footwear company's first quarter result fell short of Wall Street's forecasts. The company also issued second quarter guidance that came in below analysts' estimates.

KeyCorp fell 2.2% after the bank's latest quarterly snapshot missed analysts' targets as income from fees declined.

Shares in cigarette makers fell after Senate Majority Leader Mitch McConnell said he plans to introduce legislation to raise the minimum age to buy tobacco products from 18 to 21 nationally.

The Senate leader said his bill will cover all tobacco products, including vaping devices, and will continue to hold retailers responsible for verifying the age of anyone buying tobacco products. About a dozen states have already enacted laws raising the minimum legal age to 21.

Altria Group fell 3.2% and Philip Morris International dropped 1.2%.

Pinterest and Zoom surged in their first day of trading. Pinterest, which lets users share images of crafts and other projects, jumped 28.4% from its IPO pricing of $19. Zoom, a maker of video conference technology, vaulted 72.2% from its IPO pricing of $36.

The San Francisco-based companies' market debuts came less than a month after ride-hailing service Lyft began trading. In what might be a cautionary tale for other anticipated tech IPOs, Lyft shares surged on their first day but have since plunged back below their original offering price.

The market also got a boost from positive economic data on U.S. retail sales and unemployment claims.

The Commerce Department said retail sales surged in March at the fastest pace since late 2017, driven by increased spending on autos, gasoline, furniture and clothing. The gains are a sign that the healthy job market has likely made consumers more eager to spend in ways that boost overall economic growth.

Meanwhile, the Labor Department said weekly applications for unemployment aid declined last week.

"Let's face it, the consumer is the driving force of the U.S. economy, and when you get good initial jobless claims and good retail sales it just confirms the fact that the consumer is very strong, and that's what's giving investors a little bit of comfort," Cavanaugh said.

U.S. stock markets are closing Friday in observance of the Good Friday holiday.

Energy futures finished mostly higher Thursday. Benchmark U.S. crude oil rose 0.4% to settle at $64 per barrel. Brent crude, the international standard, added 0.5% lower to close at $71.97 per barrel.

Wholesale gasoline gained 1.5% to $2.07 per gallon, while heating oil inched 0.1% higher to $2.07 per gallon. Natural gas fell 1.1% to $2.49 per 1,000 cubic feet.

Gold slipped 0.1% to $1,276 per ounce, silver rose 0.1% to $14.96 per ounce and copper fell 1.6% to $2.92 per pound.

The dollar fell to 111.93 Japanese yen from 112.07 yen late Wednesday. The euro weakened to $1.1230 from $1.1298.


----------



## bigdog

*Exchanges closed for Easter Monday Holiday were*
FTSE 100;                 
DAX PERFORMANCE-INDEX  
CAC 40     
ALL ORDINARIES      
HANG SENG INDEX              
S&P/NZX 50 INDEX GROSS

*The NYSE was open on Monday April 22*
Wall Street capped a day of mostly sideways trading Monday with a slight gain for the benchmark S&P 500 index, as a spike in crude oil prices sent energy companies broadly higher.

Energy sector stocks climbed as the price of crude oil hit its highest level since October after the U.S. government moved to further block Iranian oil exports.

Even with the surge in energy stocks, losses in banks, real estate companies and elsewhere in the market led to a mostly lower finish for the major U.S. indexes. Smaller company stocks fell more than the rest of the market.










https://www.usnews.com/news/busines...sian-markets-lower-oil-rises-on-iran-concerns

*US Stock Indexes End Mostly Lower After Listless Trading Day*
Wall Street capped a day of mostly sideways trading Monday with a slight gain for the benchmark S&P 500 index, as a spike in crude oil prices sent energy companies broadly higher.
By Associated Press, Wire Service Content April 22, 2019, at 4:55 p.m.

By ALEX VEIGA, AP Business Writer

Wall Street capped a day of mostly sideways trading Monday with a slight gain for the benchmark S&P 500 index, as a spike in crude oil prices sent energy companies broadly higher.

Energy sector stocks climbed as the price of crude oil hit its highest level since October after the U.S. government moved to further block Iranian oil exports.

Even with the surge in energy stocks, losses in banks, real estate companies and elsewhere in the market led to a mostly lower finish for the major U.S. indexes. Smaller company stocks fell more than the rest of the market.

Homebuilders slumped following a report showing that sales of previously owned U.S. homes fell in March.

Monday's listless day of trading was in line with a relatively calm stretch for the U.S. stock market in recent weeks. The market has been hovering near all-time highs after following up a nearly 20% plummet late last year with a nearly mirror-opposite rebound.

Investors are focused on a cavalcade of corporate earnings reports later this week and new data that will give them a read on how much U.S. economic growth slowed during the first three months of the year.

"This week is a crucial week for the market," said Quincy Krosby, chief market strategist at Prudential Financial. "(Investors) want to hear what these companies are saying in terms of their guidance, and that's going to be crucial to see if this market can continue to inch higher."

The S&P 500 wavered between gains and losses for much of the day before eking out a gain of 2.94 points, or 0.1%, to 2,907.97. The index, which had briefly been down as much as 0.3%, is now within 0.8% of its record high set in September.

The Dow Jones Industrial Average fell 48.49 points, or 0.2%, to 26,511.05. The Nasdaq composite gained 17.20 points, or 0.2%, to 8,015.27. The Russell 2000 index of small-cap stocks dropped 5.70 points, or 0.4%, to 1,560.04.

More stocks fell than rose on the New York Stock Exchange.

Bond prices fell. The yield on the 10 year Treasury rose to 2.59% from 2.55% late Thursday.

Energy futures closed broadly higher. Benchmark U.S. crude surged 2.7% to settle at $65.70 per barrel. The leap tacks further gains onto the price of oil, which has been climbing since dropping below $43 in late December. Brent crude rose 2.9% to close at $74.04 per barrel.

The Trump administration said it will no longer exempt any countries from U.S. sanctions if they continue to buy Iranian oil, including China and Japan, the world's second and third largest economies.

President Donald Trump made the move with the intent of bringing Iran's oil exports to zero. Reducing Iran's exports could increase demand for oil from U.S. allies Saudi Arabia and the United Arab Emirates but would heighten political tensions.

"The big fear now and perhaps the markets' next significant catalyst, will Iran retaliate with force?" said Stephen Innes of SPI Asset Management in a report.

The rally in oil prices helped drive energy stocks higher, leading the other 10 sectors in the S&P 500 with a gain of 2.1%.

Marathon Oil climbed 6.6% and Exxon Mobil rose 2.2%.

Communications and technology companies also rose Monday, but those gains were outweighed by losses in banks, real estate and industrial stocks. People's United Financial dropped 2.9%, Simon Property Group lost 2.4% and Boeing fell 1.3%.

Homebuilders declined broadly after a report showing that sales of previously owned U.S. homes fell in March after a huge gain the previous month. The National Association of Realtors said home sales slid 4.9% to a seasonally adjusted annual rate of 5.21 million last month. That followed an 11.2% gain in February, the largest monthly pickup in more than three years.

The March sales tally is the latest sign of a national housing market that's struggling to rebound after slumping in the second half of last year as mortgage rates surged.

Beazer Homes USA was among the biggest decliners, sliding 3.2%.

Traders weighed earnings from several companies Monday.

Intuitive Surgical tumbled 7%, the largest loss in the S&P 500, after the robotic surgery system company reported weaker earnings for the latest quarter than Wall Street expected.

W.W. Grainger dropped 5.5% after the supplier of maintenance, repair and operating products reported weaker revenue for the latest quarter than analysts expected.

Kimberly-Clark gained 5.4% after the maker of Huggies diapers and Kleenex tissue reported stronger earnings and revenue for its latest quarter than analysts expected.

The stock market has been notably calm, with no move for the S&P 500 of more than 0.7% in either direction after April 1.

Bigger moves may be ahead, with a crush of corporate earnings reports due this week. More than a quarter of the companies in the S&P 500 are scheduled to report, including Amazon.com, Exxon Mobil and Facebook.

Expectations are low for earnings in general, and analysts are forecasting the first drop in profit for the S&P 500 in nearly three years. But most companies are reporting stronger profits than Wall Street had been expecting, which is typical.

Later this week, investors will also get a preliminary read on the economy's strength during the first quarter of the year. Economists expect the report to show that growth slowed to 1.8% from 2.2% in the fourth quarter of last year.

In other commodities trading, wholesale gasoline gained 2.8% to $2.13 per gallon, while heating oil rose 1.6% to $2.10 per gallon. Natural gas added 1.4% to $2.52 per 1,000 cubic feet.

Gold inched 0.1% higher to $1,277.60 per ounce, silver rose 0.1% to $14.98 per ounce and copper fell 0.6% to $2.90 per pound.

The dollar edged up to 111.94 Japanese yen from 111.93 yen late Friday. The euro strengthened to $1.1259 from $1.1246.


----------



## bigdog

The S&P 500 hit an all-time high Tuesday, marking the stock market's complete recovery from a nosedive at the end of last year.

The benchmark index's previous record was set last September, shortly before the market sank in the fourth quarter amid fears of a recession, an escalating trade war between the U.S. and China, and concern the Federal Reserve was moving too aggressively to raise interest rates.

Those concerns have eased or taken a back seat to more optimism among investors this year. Investors are more confident in the prospects for steady, if slower, growth. And they've been encouraged by an increasingly hands-off Federal Reserve, which has signaled this year that it may not raise interest rates at all in 2019 after seven increases the prior two years.










https://www.usnews.com/news/busines...ocks-rise-oil-soars-on-iran-sanctions-worries

*S&P 500, Nasdaq Close at Record Highs as Earnings Roll In*
The S&P 500 closed at an all-time high Tuesday, marking the stock market's complete recovery from a nosedive at the end of last year.
By Associated Press, Wire Service Content April 23, 2019, at 4:58 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

The S&P 500 hit an all-time high Tuesday, marking the stock market's complete recovery from a nosedive at the end of last year.

The benchmark index's previous record was set last September, shortly before the market sank in the fourth quarter amid fears of a recession, an escalating trade war between the U.S. and China, and concern the Federal Reserve was moving too aggressively to raise interest rates.

Those concerns have eased or taken a back seat to more optimism among investors this year. Investors are more confident in the prospects for steady, if slower, growth. And they've been encouraged by an increasingly hands-off Federal Reserve, which has signaled this year that it may not raise interest rates at all in 2019 after seven increases the prior two years.

Traders are also feeling more optimistic about the global economy. In China, economic growth held steady at 6.4% in the first quarter of the year as increased government efforts to stem a slowdown gained traction. In the U.S., job growth rebounded in March following a surprisingly weak February.

And the uncertainty over the costly trade dispute between the U.S. and China has eased in recent weeks amid signs that both sides are making progress toward reaching a resolution.

The S&P 500 has now recovered all of the ground it lost last fall, gaining 24.8% since it hit a bottom on Christmas Eve.

"New highs, in and of themselves, tend to be bullish and tend to beget more new highs," said Willie Delwiche, investment strategist at Baird. "You have the combination of Fed friendliness, the economy still in good shape and some expectations from an earnings front being reset that create a fundamental backdrop that isn't all together unfavorable for stocks."

Tuesday's broad rally was driven by big U.S. companies turning in solid results for the first quarter. That surprised investors because analysts have forecast the worst quarter of earnings growth in years.

The S&P 500 index gained 25.71 points, or 0.9%, to 2,933.68. It's previous record high was 2,930.75, which was set on Sept. 20.

The Dow Jones Industrial Average rose 145.34 points, or 0.5%, to 26,656.39. The Nasdaq composite index climbed 105.56 points, or 1.3%, to 8,120.82, beating the record high close of 8,109.69 it reached on Aug. 29.

Small-company stocks rose much more than the rest of the market, a bullish sign indicating that investors were more willing to take on risk. The Russell 2000 index picked up 25.05 points, or 1.6%, to 1,585.09. It finished well below the peak it reached last August.

At the sector level, technology and industrial stocks are leading the way this year, with gains of 27.2% and 22.4%, respectively.

While the S&P 500's latest milestone reflects renewed optimism about stocks, where the market goes from here depends largely on corporate earnings growth. To that end, the breadth of earnings growth is key, said Delwiche.

"You could argue that a bulk of the decline last year was concern about the global economy and whether or not the Fed was tightening too, much too soon," Delwiche said. "The question is: What's next?

"In terms of identifying what's next for the market, you really need to see how the average stock does," he said. "Is the average stock able to come through with earnings growth? Is the average stock able to rally? Or have the past six-seven months been just one big action-reaction and we're left with spinning heads but not much else?"

Delwiche noted that while the S&P and Nasdaq notched new highs Tuesday, the number of individual stocks making new highs is relatively small.

"That's a cause for concern," he said.

On Tuesday, Hasbro, Lockheed Martin and Twitter all surprised Wall Street with strong profit and revenue. Analysts are watching corporate reports closely this week as they gauge whether first quarter earnings for U.S. companies will be as bad as predicted. Wall Street has been forecasting a contraction during the quarter.

Stocks are under a little less pressure following the latest round of earnings results. That's not only because the earnings have been mostly solid, but also because companies have been issuing optimistic forecasts.

"We're getting a nice forward-looking picture from those companies," said J.J. Kinahan, chief market strategist for TD Ameritrade.

There are still many big companies yet to report earnings and it's far too early to conclude that the results will beat Wall Street's modest expectations. Reports from Caterpillar, Boeing and Microsoft are all going to be closely watched Wednesday.

Hasbro surged 14.2% after the toy company reported strong growth in its various franchises, which include Transformers toys, which benefited from the hit movie "Bumblebee" and "Magic: The Gathering Arena." The turnaround comes as Hasbro and other toy makers recover from the bankruptcy of Toys R Us.

Coca-Cola surprised Wall Street with its beverage sales during the first quarter after it previously warned of slower growth this year. The stock rose 1.7%.

Twitter surged 15.6% after surprising Wall Street by adding more users than analysts had expected during the first quarter.

Lockheed Martin rose 5.7% after raising its forecast for the year on a solid outlook for jet and arms production.

Bond prices rose. The yield on the 10 year Treasury fell to 2.57% from 2.59% late Monday.

Energy futures closed mostly higher. U.S. crude gained 1.1% to settle at $66.30 per barrel. Oil has been climbing since dropping below $43 in late December. Brent crude rose 0.6% to close at $74.51 per barrel.

Wholesale gasoline inched 0.1% higher to $2.13 per gallon. Heating oil rose 0.7% to $2.12 per gallon. Natural gas fell 2.7% to $2.46 per 1,000 cubic feet.

Gold slipped 0.3% to $1,273.20 per ounce, silver dropped 1.2% to $14.79 per ounce and copper fell 0.3% to $2.89 per pound.

The dollar fell to 111.83 Japanese yen from 111.94 yen late Monday. The euro weakened to $1.1215 from $1.1259.


----------



## bigdog

U.S. stocks closed slightly lower Wednesday as the market gave back some of its gains a day after the S&P 500 and Nasdaq hit record highs.

Energy stocks led the modest slide as crude oil prices fell after a three-day rally. Communications companies also helped pull the market lower, offsetting gains in real estate and other sectors. Bond prices rose as traders took a more defensive approach.

Stocks wavered between small gains and losses through much of the day as investors continued to wade through a steady flow of corporate earnings. Analysts have been expecting a contraction in first-quarter corporate profits, but the results so far have been mostly solid.










https://www.usnews.com/news/busines...s-lower-after-s-p-500-nasdaq-hit-record-highs

*US Stock Indexes Finish Slightly Lower a Day After Record*
U.S. stocks closed slightly lower Wednesday as the market gave back some of its gains a day after the S&P 500 and Nasdaq hit record highs.
By Associated Press, Wire Service Content April 24, 2019, at 5:03 p.m.

By ALEX VEIGA, AP Business Writer

U.S. stocks closed slightly lower Wednesday as the market gave back some of its gains a day after the S&P 500 and Nasdaq hit record highs.

Energy stocks led the modest slide as crude oil prices fell after a three-day rally. Communications companies also helped pull the market lower, offsetting gains in real estate and other sectors. Bond prices rose as traders took a more defensive approach.

Stocks wavered between small gains and losses through much of the day as investors continued to wade through a steady flow of corporate earnings. Analysts have been expecting a contraction in first-quarter corporate profits, but the results so far have been mostly solid.

That trend continued Wednesday with strong reports from e-commerce company eBay, industrial giant Caterpillar and health insurer Anthem.

"The pace of earnings beats is at a very nice level, certainly exceeding diminished expectations," said Eric Wiegand, senior portfolio manager for Private Wealth Management at U.S. Bank. "The strength of the dollar has been, perhaps, a little bit of a weight on markets today."

The S&P 500 index fell 6.43 points, or 0.2%, to 2,927.25. The benchmark index closed at a record high on Tuesday. The Dow Jones Industrial Average dropped 59.34 points, or 0.2%, to 26,597.05. The Nasdaq composite lost 18.81 points, or 0.2%, to 8,102.01. The index was also coming off a record high close.

Small-company stocks fared better than the rest of the market. The Russell 2000 index picked up 3.04 points, or 0.2%, to 1,588.13.

Despite the overall decline in the major indexes, slightly more stocks rose than fell on the New York Stock Exchange. Major European stock indexes finished mostly lower.

Bond prices rose. The yield on the 10 year Treasury note fell to 2.52% from 2.57% late Tuesday.

The U.S. stock market mounted a strong recovery this year after finishing 2018 in a steep slump fueled by fears of recession, an escalating trade war between the U.S. and China, and concern the Federal Reserve was moving too aggressively to raise interest rates.

Those worries have been mostly quelled this year amid greater confidence in the economy and reassurances that the Fed is unlikely to raise interest rates this year.

Traders have also been more confident in the prospects for corporate earnings growth as companies have begun reporting solid first quarter results.

A little more than a quarter of S&P 500 companies have issued their first quarter report cards so far, resulting in overall earnings growth of 2.4%. Still, analysts are forecasting that earnings will be down 3% by the time all the S&P 500 companies deliver their results. That would be the first decline since the spring of 2016.

Energy stocks fell more than the 10 other S&P 500 sectors, losing 1.9%. National Oilwell Varco led the way lower, shedding 5.1%.

The slide came as the price of U.S. crude oil snapped a three-day winning streak.

Benchmark U.S. crude fell 0.6% to settle at $65.89 per barrel. Oil had been climbing recently since dropping below $43 in late December. Brent crude rose 0.1% to $74.57 per barrel.

Anadarko Petroleum bucked the energy sector's broad slide as the oil and gas exploration and production company became the focus of a bidding war by two of the oil industry's largest companies.

Occidental Petroleum is hoping to beat a rival bid made by Chevron earlier this month. The two companies are hoping to secure their position in the oil-rich Permian Basin. Anadarko vaulted 11.6%. Occidental dropped 0.6%, while Chevron fell 3.1%.

The latest wave of company earnings reports included some disappointing results, which weighed on stocks.

AT&T dropped 4.1% after the telecommunications giant's first quarter revenue fell short of forecasts, due in part to a bid decline in premium video subscribers.

IRobot plunged 23.1% after the robotics company's revenue fell short of Wall Street forecasts. The company, which is best known for its robotic Roomba vacuum, beat profit forecasts for the quarter and gave investors solid guidance for the year, but it wasn't enough to overcome disappointing revenue growth.

Other companies got a boost from their latest quarterly snapshots.

EBay rose 5% after it raised its full-year sales and profit forecast. Active buyers grew by 4% during the first quarter, pushing revenue and profit beyond Wall Street forecasts.

Flir Systems climbed 5.5% after the imaging and surveillance systems company turned in better-than-expected first quarter results and a solid forecast.

SAP soared to an all-time high after activist investor Elliott Management revealed a $1.3 billion investment in the German software company on the same day SAP reported solid first quarter results. SAP's U.S.-listed stock jumped 12.4%.

In other commodities trading, wholesale gasoline inched 0.1% lower to $2.13 per gallon. Heating oil dropped 0.9% to $2.10 per gallon. Natural gas gained 0.3% to $2.46 per 1,000 cubic feet.

Gold rose 0.5% to $1,279.40 per ounce, silver added 0.8% to $14.92 per ounce and copper picked up 0.6% to $2.91 per pound.

The dollar rose to 112.35 Japanese yen from 111.83 yen late Tuesday. The euro weakened to $1.1143 from $1.1215.


----------



## bigdog

Anzac Holiday for Australia and New Zealand Yesterday

Lest we forget Anzac Day

U.S. stock indexes finished mostly lower Thursday as disappointing earnings reports from several industrial sector companies weighed on the market, offsetting strong results from Facebook, Microsoft and others.

3M, which makes Post-it notes and many other products, plunged 12.9% in heavy trading after announcing weak results and a restructuring program. It was the biggest loss for the company since the market crash of October 1987.

The loss for 3M pulled the Dow Jones Industrial Average into the red. The S&P 500 finished slightly lower, holding close to the record high it set on Tuesday.










https://www.usnews.com/news/busines...xed-after-us-stocks-retreat-from-record-highs

*US Stocks End Mostly Lower, Weighed Down by Industrials*
U.S. stock indexes finished mostly lower Thursday as disappointing earnings reports from several industrial sector companies weighed on the market, offsetting strong results from Facebook, Microsoft and others.
By Associated Press, Wire Service Content April 25, 2019, at 4:57 p.m.

By ALEX VEIGA, AP Business Writer

U.S. stock indexes finished mostly lower Thursday as disappointing earnings reports from several industrial sector companies weighed on the market, offsetting strong results from Facebook, Microsoft and others.

3M, which makes Post-it notes and many other products, plunged 12.9% in heavy trading after announcing weak results and a restructuring program. It was the biggest loss for the company since the market crash of October 1987.

The loss for 3M pulled the Dow Jones Industrial Average into the red. The S&P 500 finished slightly lower, holding close to the record high it set on Tuesday.

Facebook and Microsoft both rose after reporting strong earnings. That helped the Nasdaq eke out a small gain.

The indexes' mixed finish gave the benchmark S&P 500 index its second modest loss in as many days. The market remains on track for solid gains this month.

Traders have grown more optimistic that most companies will continue to deliver strong growth this year, despite some signs that point to a slowing global economy.

"Earnings are flowing, and we're going to see a positive earnings season," said Karyn Cavanaugh, senior markets strategist, Voya Investment Management. If (the market) keeps going up, up, up, then that kind of makes you a little skeptical. The fact that investors are being a little bit more selective, that's a good sign."

The S&P 500 slipped 1.08 points, or less than 0.1%, to 2,926.17. The Dow Jones Industrial average lost 134.97 points, or 0.5%, to 26,462.08. Without the loss from 3M, the Dow would have been 58 points higher.

The Nasdaq composite rose 16.67 points, or 0.2%, to 8,118.68.

Small-company stocks fared worse than the rest of the market. The Russell 2000 index gave up 12.52 points, or 0.8%, to 1,575.61.

Major European indexes finished lower.

Bond prices fell. The yield on the 10 year Treasury note rose to 2.53% from 2.52% late Wednesday.

Earnings reporting season is more than a third of the way in, and investors are searching for clues about whether profit growth can accelerate later this year following a weak first quarter. The stock market has had a furious rally this year, largely because the Federal Reserve has said that it is halting its plan to raise interest rates, at least temporarily.

Industrial stocks were on the losing side Thursday after 3M reported lower revenue and profit for the first three months of the year than Wall Street expected. It also slashed its profit forecast for the full year.

United Parcel Service said its net income fell 17% on nearly flat revenue, and Illinois Tool Works had weaker revenue than analysts forecast. Rockwell Automation said that automotive related sales were less than it expected last quarter.

UPS lost 8.1%, Illinois Tool Works fell 3.6% and Rockwell Automation sank 6.7% following their earnings reports.

Raytheon, a defense contractor that is also in the industrial sector, dropped 4.4%. It reported stronger profit for the latest quarter than expected, but analysts noted some mixed results for its profit margins.

All told, the companies helped drag industrial stocks down 2%, the steepest loss by far among the 11 sectors that make up the S&P 500.

Altria Group slid 6% after the nation's largest cigarette maker reported weak first quarter results on lower sales and a hefty investment in cannabis company Cronos.

Other companies turned in quarterly report cards that blew past expectations.

Facebook surged 5.8% after the social media giant reported a 26% jump in quarterly revenue. That helped lift the communications sector by 1.1%.

Microsoft gained 3.3% after the software maker said its quarterly revenue vaulted 14% from a year earlier. Amazon reported that its profit more than doubled in the first quarter, the latest sign that the e-commerce company's push into advertising and cloud computing paid off. Amazon reported its results after the close of regular trading.

Coming into this earnings reporting season, Wall Street was expecting a dud. Partially because of slowing economic growth around the world, analysts were forecasting the first drop in earnings for the S&P 500 in nearly three years.

Companies, though, have been surprising analysts with not-as-bad results. So far, about 190 of the companies in the S&P 500 have reported their earnings for the first three months of the year. Among them, earnings actually grew 2.1% from a year earlier.

All the better-than-expected results mean analysts are now forecasting a drop of 2.8% in earnings for S&P 500 companies this reporting season. That's not as bad as the 4% decline they were expecting a few weeks ago.

Energy futures finished mixed. Benchmark U.S. crude fell 1% to settle at $65.21 per barrel. Brent crude dropped 0.3% to close at $74.35 per barrel.

Wholesale gasoline inched 0.2% higher to $2.13 per gallon. Heating oil was little changed at $2.10 per gallon. Natural gas gained 2.1% to $2.51 per 1,000 cubic feet.

Gold was little changed at $1,279.70 per ounce, silver inched 0.2% lower to $14.88 per ounce and copper slid 1.7% to $2.86 per pound.

The dollar fell to 111.62 Japanese yen from 112.35 yen late Wednesday. The euro weakened to $1.1128 from $1.1143.


----------



## bigdog

Wall Street capped a week of milestones by delivering a couple more Friday.

A late-afternoon burst of buying lifted the major U.S. stock indexes, which had spent much of the day in a sideways drift. The gains nudged the benchmark S&P 500 index and Nasdaq composite to new closing highs for the second time this week. Both indexes also set record highs on Tuesday.

The Dow Jones Industrial Average eked out a gain, but ended the week slightly lower.

The market's latest milestones came as investors weighed a mixed bag of corporate earnings. Solid quarterly reports from Ford and Amazon helped lift the market. Weaker showings from Intel and Exxon Mobil cut into the Dow's gains.










https://www.usnews.com/news/busines...xed-after-us-stocks-retreat-from-record-highs

*US Stocks Close Higher as S&P 500, Nasdaq Hit New Highs*
Wall Street capped a week of milestones by delivering a couple more Friday.
By Associated Press, Wire Service Content April 26, 2019, at 5:29 p.m.

By ALEX VEIGA, AP Business Writer

Wall Street capped a week of milestones by delivering a couple more Friday.

A late-afternoon burst of buying lifted the major U.S. stock indexes, which had spent much of the day in a sideways drift. The gains nudged the benchmark S&P 500 index and Nasdaq composite to new closing highs for the second time this week. Both indexes also set record highs on Tuesday.

The Dow Jones Industrial Average eked out a gain, but ended the week slightly lower.

The market's latest milestones came as investors weighed a mixed bag of corporate earnings. Solid quarterly reports from Ford and Amazon helped lift the market. Weaker showings from Intel and Exxon Mobil cut into the Dow's gains.

Smaller company stocks fared better than the rest of the market, a bullish sign indicating that investors were more willing to take on risk.

While company earnings were mixed, investors drew encouragement from a government report estimating that the U.S. economy grew at a solid 3.2% annual rate in the first three months of the year — a much bigger increase than expected.

"The first quarter number is typically the weakest of the year, so the fact that this number was so strong is a positive sign going forward," said Cliff Hodge, director of investments for Cornerstone Wealth.

The S&P 500 rose 13.71 points, or 0.5%, to 2,939.88. The broad index is now up 17.3% this year. The Dow rose 81.25 points, or 0.3%, to 26,543.33. The Nasdaq composite recovered from an early slide, adding 27.72 points, or 0.3%, to 8,146.40.

The Russell 2000 index of smaller company stocks climbed 16.20 points, or 1%, to 1,591.82.

Major European stock indexes ended mostly higher.

Bond prices rose. The yield on the 10 year Treasury fell to 2.50% from 2.53% late Thursday.

The S&P 500's latest all-time high underscores the market's blockbuster turnaround this year after nosediving at the end of 2018 amid fears of a recession, an escalating trade war between the U.S. and China, and concern that the Federal Reserve was moving too aggressively to raise interest rates.

In the months since, those concerns have eased or taken a back seat to more optimism among investors about the prospects for steady economic growth. Improved economic data out of China and signals that Washington and Beijing are making progress toward resolving their costly trade dispute has also helped ease market jitters.

Perhaps most of all, traders have been encouraged by an increasingly hands-off Fed, which has signaled that it may not raise interest rates at all in 2019 after seven increases the previous two years.

More recently, companies that have reported first quarter results have mostly met profit forecasts, taking some pressure off the market.

U.S. companies are about a third of the way through their latest round of quarterly reports. So far they've avoided analysts' most dire predictions for a severe contraction.

"It's marginally better than expected, so the market has rallied a bit," said Andrew Slimmon, managing director and senior portfolio manager at Morgan Stanley Investment Management.

Meanwhile, investor fears of a potential recession have subsided since the year started, helping the market steadily recover from its fourth-quarter meltdown.

"With no recession, the market was due for a bounce back," he said, noting that investors seem to be complacent with a less volatile market, which he said could be setting it up for a pullback.

Wall Street's strong recover this year has helped fuel a surge in corporate deals. So far this year, there have been $711 billion in mergers and acquisitions in the U.S., the fastest start to a year on record, according to Dealogic.

The market has also been rewarding some technology companies since their highly anticipated stock market debuts. Pinterest and Zoom both went public earlier this month and are trading near their raised initial prices. Ride-hailing company Uber and messaging platform Slack are set to be the next technology companies to open up for public investment.

All told, 34 IPOs have been completed this year, raising $9.5 billion, down from 55 IPOs that raised $18.5 billion in the same period last year, said Kathleen Smith, principal at Renaissance Capital, a provider of pre-IPO research and IPO exchange-traded funds.

Smith noted that the upcoming $8.5 billion Uber IPO and a pipeline of over 200 others, could make 2019 a record year for capital raised in the IPO market.

On Friday, gains in financial, health care and other sectors offset losses in technology stocks. Energy companies also fell as the price of U.S. crude oil slumped for the third straight day.

Ford Motor rode its trucks and SUVs to a solid first-quarter profit. The stock vaulted 10.7%.

Amazon gained 2.5% a day after the e-commerce giant said its profit more than doubled in the first quarter.

Intel shares tumbled 9% after the chipmaker warned that weak demand in China will likely continue through the current quarter. It slashed its forecast for the quarter and expects a drop in revenue for the year.

Exxon Mobil slid 2.1% after the oil company's first quarter profit fell by half, missing forecasts due to more spending on oil production and lower margins in its refinery business.

Exxon was part of a broad slide in energy sector stocks Friday, as the price of benchmark U.S. crude oil fell 2.9% to settle at $63.30 a barrel.

Oil prices increased during the first quarter following an agreement by OPEC and allies including Russia to limit production. More recently, prices have risen after the U.S. government announced it will end waivers from sanctions for countries that import oil from Iran, including China, India, Japan and South Korea.

Energy futures finished mostly lower.

Brent crude, the international standard, fell 3% to close at $72.15 per barrel. Wholesale gasoline slid 1.5% to $2.10 per gallon. Heating oil dropped 2.2% to $2.05 per gallon. Natural gas rose 2.1% to $2.57 per 1,000 cubic feet.

Gold rose 0.7% to $1,288.80 per ounce, silver gained 0.8% to $15.01 per ounce and copper added 0.9% to $2.89 per pound.

The dollar slipped to 111.61 Japanese yen from 111.62 yen late Thursday. The euro strengthened to $1.1154 from $1.1128.

8032


----------



## bigdog

Japanese markets were closed for a weeklong holiday.

Labour days holiday on Wednesday May 1 also

U.S. stock indexes edged further into record territory Monday following more signs that the economy is growing in the not too hot, not too cold way that investors love.

The S&P 500 index ticked up by 3.15 points, or 0.1%, to 2,943.03. Big gains for banks led the way on hopes for bigger profits from making loans, but losses for high dividend stocks held indexes in check.

The Dow Jones Industrial Average rose 11.06, or less than 0.1%, to 26,554.39, and the Nasdaq composite gained 15.46, or 0.2%, to 8,161.85. Both the S&P 500 and Nasdaq closed at record highs.










https://www.usnews.com/news/busines...al-stocks-lower-ahead-of-us-china-trade-talks

*Stocks Tick up to Another Record High as Goldilocks Reigns*
US stocks edge higher as banks benefit from a report showing that consumer spending surged last month, clocking its biggest gain in almost a decade.
By Associated Press, Wire Service Content April 29, 2019, at 4:36 p.m. 

By DAMIAN J. TROISE and STAN CHOE, AP Business Writers

NEW YORK (AP) — U.S. stock indexes edged further into record territory Monday following more signs that the economy is growing in the not too hot, not too cold way that investors love.

The S&P 500 index ticked up by 3.15 points, or 0.1%, to 2,943.03. Big gains for banks led the way on hopes for bigger profits from making loans, but losses for high dividend stocks held indexes in check.

The Dow Jones Industrial Average rose 11.06, or less than 0.1%, to 26,554.39, and the Nasdaq composite gained 15.46, or 0.2%, to 8,161.85. Both the S&P 500 and Nasdaq closed at record highs.

After rocketing higher in the first few months of the year, momentum has moderated for the S&P 500 index in recent weeks. Trading has remained relatively quiet, as reports on the economy and corporate profits come in better than analysts expected and give investors further confidence that the economy can avoid a recession.

"I think it's healthy to see these sideways or even slightly down days," said Nate Thooft, senior portfolio manager at Manulife Asset Management. "This is just digesting the big move we had earlier in the year."

The S&P 500 is up 17.4% so far in 2019, and it has more than erased its nearly 20% drop from late last year when worries were high than an overly aggressive Federal Reserve could cause a recession by raising interest rates too quickly.

"We're kind of in complacency land, Goldilocks land," Thooft said. "That in itself is a little bit alarming, but I don't see what changes it either."

Helping to spur Monday's gains was a report from the Commerce Department that showed an economy that's growing, but not at too hot a pace. Consumer spending jumped 0.9% in March, the biggest gain in nearly a decade. But the same report also showed that the Federal Reserve's preferred measure of price changes remains well below its target.

Low inflation gives the central bank more leeway to hold off on raising interest rates, and it was the Fed's pledge earlier this year to be patient on rates that sent stocks surging. The Federal Reserve will meet again on interest rates this week, and most investors expect it to make no changes.

More relief is also coming from ongoing negotiations between the U.S. and China as they try to end a costly trade war. Both sides have said they are making progress and are continuing talks this week.

Big U.S. companies also continue to turn in stronger earnings for the first three months of the year than analysts expected. Google's parent company, Alphabet, joined the lengthening list when it reported its results after trading ended on Monday.

Analysts say companies across the S&P 500 index may end up reporting slightly higher profits for the first quarter than a year ago. Just a few weeks ago, Wall Street was predicting the first drop in earnings in nearly three years.

Nearly a third of the companies in the S&P 500 are scheduled to report their results for the first quarter this upcoming week, including CVS Health, General Motors and McDonald's.

Treasury yields rose with the encouraging data on consumer spending, and the yield on the 10-year Treasury climbed to 2.52% from 2.50% late Friday.

Higher interest rates can mean bigger profits for banks, and financial stocks in the S&P 500 jumped 0.9%. JPMorgan Chase and Bank of America both rose 1.4%.

On the losing side were utility stocks and real estate investment trusts, which are big dividend payers. When bonds pay more in interest, it can dull the appeal of dividend paying stocks.

Real estate stocks in the S&P 500 dropped 1.1%, and utilities sank 0.6%.

In overseas markets, the Hang Seng rose 1% in Hong Kong, and South Korea's Kospi jumped 1.7%. The French CAC 40 gained 0.2%, Germany's Dax inched up by 0.1% and the FTSE 100 in London rose 0.2%. Japanese markets were closed for a weeklong holiday.

Benchmark U.S. crude rose 20 cents to settle at $63.50 per barrel. Brent crude, the international standard, fell 11 cents to $72.04 a barrel.

Natural gas added a penny to $2.59 per 1,000 cubic feet, heating oil was virtually flat at $2.05 per gallon and wholesale gasoline dipped 2 cents to $2.08 per gallon.

Gold fell $7.30 to $1,281.50 per ounce, silver lost 16 cents to $14.93 per ounce and copper was virtually flat at $2.90 per pound.

The dollar rose to 111.71 Japanese yen from 111.61 yen late Friday. The euro rose to $1.1183 from $1.1154, and the British pound ticked up to $1.2935 from $1.2925.


----------



## bigdog

*Japanese markets were closed for a week long holiday.*

Wall Street capped a day of mostly wobbly trading with meager gains Tuesday, enough to nudge the S&P 500 to an all-time high for the third straight day.

The benchmark index spent much of the day hovering below its previous high, but edged up in the last few minutes of trading.

Household goods makers, health care stocks, utilities and other sectors helped lift the market, narrowly offsetting a steep decline in communications companies.










https://www.usnews.com/news/busines...asian-stocks-mixed-after-new-wall-street-high

*US Stocks Post Meager Gains; S&P 500 Index Hits New High*
Wall Street capped a day of mostly wobbly trading with meager gains Tuesday, enough to nudge the S&P 500 to an all-time high for the third straight day.
By Associated Press, Wire Service Content April 30, 2019, at 5:05 p.m.

By ALEX VEIGA, AP Business Writer

Wall Street capped a day of mostly wobbly trading with meager gains Tuesday, enough to nudge the S&P 500 to an all-time high for the third straight day.

The benchmark index spent much of the day hovering below its previous high, but edged up in the last few minutes of trading.

Household goods makers, health care stocks, utilities and other sectors helped lift the market, narrowly offsetting a steep decline in communications companies.

Google's parent company, Alphabet, led the slide after the search giant reported a slowdown in revenue growth. Retailers and hospitality industry companies also fell.

The market's latest gyrations came as investors weighed the latest batch of corporate earnings reports.

"This is a market that's trying to find its way after advancing nearly 18% through last night on a year-to-date basis," said Lindsey Bell, investment strategist at CFRA. "While the numbers have been good, there still remains a cautious tone in the market."

The S&P 500 rose 2.80 points, or 0.1%, to 2,945.83, a record. The Dow Jones Industrial Average added 38.52, or 0.1%, to 26,592.91.

The Nasdaq, which is heavily weighted with technology companies, fell 66.47 points, or 0.8%, to 8,095.39. The Russell 2000 index of smaller company stocks dropped 7.15 points, or 0.4%, to 1,591.21.

Major indexes in Europe finished mostly higher.

Bond prices rose. The yield on the 10 year Treasury fell to 2.50% from 2.53% late Monday.

The U.S. stock market has been riding high this year after mounting a big comeback from a steep slump at the end of 2018. Investors have been feeling more optimistic this year as fears of a global economic recession eased and negotiations between the U.S. and China over their costly trade war appear to be making progress.

The Federal Reserve has done the most to allay the market's jitters this year by signaling that it may not raise interest rates at all in 2019 after seven increases the previous two years.

Traders will get to hear from the Fed again on Wednesday, when the central bank's policymakers issue another update on interest rate policy and their view on the U.S. economy.

Earnings reporting season is more than a third of the way in, and investors continue to search for clues about whether profit growth can accelerate later this year following a weak first quarter.

So far, about 269 of the companies in the S&P 500 have reported their earnings for the first three months of the year. Among them, earnings are down about 0.3% from a year earlier. Analysts forecast a drop of 1% in earnings growth for S&P 500 companies this reporting season. That's not as bad as the 4% decline they were expecting a few weeks ago.

"Sales numbers have been better than expected, too, which I think is the bigger story here, because that was the No. 1 thing people were worried about," Bell said.

The strong rally in stocks at a time when company earnings growth is still sluggish may be giving investors reason to pause.

Bell noted that valuations, or the price-earnings ratio of stocks, are becoming "a little bit stretched" at nearly 18 times expected earnings.

"You've seen corporate management teams still remain a little bit cautious in tone, with regard to guidance," she said.

The latest batch of corporate earnings Tuesday gave traders a mixed snapshot of how companies are doing.

Industrial conglomerate General Electric climbed 4.5% in heavy trading after beating Wall Street's profit and revenue forecasts for the second straight quarter. The company has been shedding units and reorganizing as it tries to increase growth.

Health care stocks bounced back after wobbling in early trading as several of the sector's big names reported their results.

Merck rose 2.5% after reporting that its profit quadrupled in the first quarter, easily beating Wall Street's forecasts. Pfizer, another huge drugmaker, gained 2.6% after higher sales of prescription drugs helped it report a 9% jump in profits, also easily beating forecasts.

Eli Lilly slid 2.1% after the drugmaker cut its revenue forecast for the year as it faces price declines and more competition for its drugs.

Other big names on Wall Street posted results that put traders in a selling mood.

Alphabet slumped 7.5% in heavy trading after disappointing advertising sales held back revenue growth during the first quarter.

The search engine's revenue fell short of analysts' forecasts because advertising revenue only grew by 15%. The company is in tight competition for digital ads with Facebook and Amazon.

General Motors slid 2.6% after reporting a surprise drop in sales during the first quarter. The automaker raised prices on its vehicles, especially trucks, during the quarter.

Restaurant operator Texas Roadhouse slumped 11.6% after profit fell because of higher labor costs. Both profit and revenue fell short of forecasts.

Energy futures finished mostly higher. Benchmark U.S. crude rose 0.6% to settle at $63.91 per barrel. Brent crude added 1.1% to close at $72.80 per barrel.

Wholesale gasoline gained 1.9% to $2.12 per gallon. Heating oil climbed 1.3% to $2.08 per gallon. Natural gas fell 0.7% to $2.58 per 1,000 cubic feet.

Gold added 0.3% to $1,285.70 per ounce, silver inched 0.3% higher to $14.98 per ounce and copper rose 0.2% to $2.90 per pound.

The dollar fell to 111.37 Japanese yen from 111.71 yen late Monday. The euro strengthened to $1.1221 from $1.1183.


----------



## bigdog

*Japanese markets were closed for a week long holiday.

May day holiday in Germany and France for exchanges

Holiday in Asia for all indexes shown*

U.S. stocks sold off late in the day and ended broadly lower Wednesday after the head of the Federal Reserve appeared to play down the possibility of an interest rate cut this year, something some investors had been hoping for.

The Fed's decision to leave its benchmark interest rate alone was widely expected and came amid signs of renewed economic health, but unusually low inflation. The announcement reaffirmed a message that has reassured investors since the start of the year: No rate hikes are likely anytime soon.

The low-rate policy is helping to keep borrowing costs down and supporting an economy that's been growing steadily since late last year.











https://www.usnews.com/news/busines...ostly-closed-sydney-up-after-new-s-p-500-high

*Stocks Sink After Fed Appears to Dash Hopes of a Rate Cut*
Stocks gave up some early gains and ended broadly lower on Wall Street Wednesday after the head of the Federal Reserve appeared to play down the possibility of an interest rate cut this year, something some investors had been hoping for.
By Associated Press, Wire Service Content May 1, 2019, at 5:55 p.m. 

By ALEX VEIGA, AP Business Writer

U.S. stocks sold off late in the day and ended broadly lower Wednesday after the head of the Federal Reserve appeared to play down the possibility of an interest rate cut this year, something some investors had been hoping for.

The Fed's decision to leave its benchmark interest rate alone was widely expected and came amid signs of renewed economic health, but unusually low inflation. The announcement reaffirmed a message that has reassured investors since the start of the year: No rate hikes are likely anytime soon.

The low-rate policy is helping to keep borrowing costs down and supporting an economy that's been growing steadily since late last year.

Still, some investors who saw inflation trending below the Fed's preferred target of 2% thought Chairman Jay Powell might signal a rate cut to spur economic growth, a notion that Powell dashed during a press conference and that some market watchers dismissed as wishful thinking.

"I don't think investors who were anticipating a rate cut were being very realistic," said Karyn Cavanaugh, senior markets strategist at Voya Investment Management.

Cavanaugh said that a rate cut wouldn't be an appropriate move against the backdrop of the U.S. economy that grew 3.2% in the first three months of this year and a national unemployment rate below 4%.

The S&P 500 index fell 22.10 points, or 0.8%, to 2,923.73.

The Dow Jones Industrial Average lost 162.77 points, or 0.6%, to 26,430.14. The Nasdaq composite dropped 45.75 points, or 0.6%, to 8,049.64. The Russell 2000 index of smaller company stocks gave up 14.83 points, or 0.9%, to 1,576.38.

The U.S. stock market has been riding high this year as it's made its way back from a nosedive at the end of 2018. The Fed spurred the market's recovery earlier this year when it signaled that it would take a patient approach to raising interest rates.

On Wednesday, the central bank once again reassured investors that it is unlikely it will hike rates in coming months. The Fed raised rates seven times over 2017 and 2018.

The Fed also expressed a more upbeat view of the economy, saying "economic activity rose at a solid rate." In March, the Fed had said it appeared that growth had slowed from the fourth quarter of last year.

"The Fed action is a positive, because it means that rates are going to remain low," said Tom Martin, senior portfolio manager with Globalt Investments. "And if there was anything that looked like it could be harmful, the Fed is standing ready to consider more accommodation."

Soon after the Fed issued its statement, stock prices rose modestly. And the yield on the 10-year Treasury note, which influences mortgages and some other loans, fell slightly.

But the trajectory for stocks and bonds changed course as Powell fielded questions from reporters. At one point, he declined to say whether some investors are misguided in expecting the U.S. central bank to trim interest rates this year, something traders have been betting will happen before year's end.

"The committee is comfortable with our current policy stance," Powell said.

The U.S. dollar spiked versus other currencies as Powell spoke. Bond prices ended up little changed, with the yield on the 10-year Treasury note holding at 2.50%.

Household goods makers, banks and energy companies took some of the heaviest losses Wednesday. Only real estate stocks eked out a slight gain.

Stocks had been moving sideways right before the Fed's announcement. They rallied earlier in the day as large U.S. companies continued to surprise investors with solid profits.

Apple rose 4.9% after its first quarter results beat Wall Street forecasts. The consumer electronics giant's sales are still shrinking as iPhone demand weakens, however. Still, Apple raised its dividend and signaled that the revenue slide could level off in the current quarter.

Royal Caribbean Cruises jumped 6.7% after the cruise line operator said booking rates and volumes helped push revenue higher, along with more demand for onboard activities.

CVS Health climbed 5.4% after the company reported a 42% surge in quarterly profits, blowing past Wall Street's forecasts. The nation's second-largest drugstore chain also raised its profit forecast for the year.

Beer maker Molson Coors slid 7.5% after a slump in volume weighed down revenue. The company, which makes both Molson and Coors, reported revenue and profit below Wall Street forecasts.

Earnings reporting season is more than a third of the way through and the results have been tempering investors' worst fears about a severe profit slump. Earnings are down about 0.3% so far for S&P 500 companies. That's far better than the 4% drop expected just a few weeks ago.

Energy futures finished mostly higher. Benchmark U.S. crude fell 0.5% to settle at $63.60 per barrel. Brent crude added 0.2% to close at $72.18 per barrel.

Wholesale gasoline inched 0.1% lower to $2.06 per gallon. Heating oil rose 0.8% to $2.09 per gallon. Natural gas added 1.7% to $2.62 per 1,000 cubic feet.

Gold dropped 0.1% to $1,284.20 per ounce, silver fell 1.7% to $14.73 per ounce and copper slid 3.5% to $2.80 per pound.

The dollar rose to 111.61 Japanese yen from 111.37 yen late Tuesday. The euro weakened to $1.1194 from $1.1221.


----------



## bigdog

*Japanese markets are closed for a week long holiday.
*
Energy stocks led a broad slide on Wall Street Thursday as oil and gas prices fell, handing the market its second straight loss.

Losses in technology and communications stocks also helped power the sell-off, offsetting gains in health care and real estate companies. Banks also rose, getting a boost from rising bond yields, which allow lenders to charge higher interest on loans.

The market's downward tilt came as investors continued to weigh remarks on Wednesday by the head of the Federal Reserve that appeared to dim prospects for an interest rate cut this year.
*









https://www.usnews.com/news/busines...xed-as-fed-steers-clear-of-signaling-rate-cut

Energy, Tech Companies Help Pull US Stocks Broadly Lower*
Energy stocks led a broad slide in U.S. stocks Thursday as oil and gas prices fell, handing the market its second straight loss.
*By Associated Press, Wire Service Content May 2, 2019, at 5:13 p.m.
*
By ALEX VEIGA, AP Business Writer

Energy stocks led a broad slide on Wall Street Thursday as oil and gas prices fell, handing the market its second straight loss.

Losses in technology and communications stocks also helped power the sell-off, offsetting gains in health care and real estate companies. Banks also rose, getting a boost from rising bond yields, which allow lenders to charge higher interest on loans.

The market's downward tilt came as investors continued to weigh remarks on Wednesday by the head of the Federal Reserve that appeared to dim prospects for an interest rate cut this year.

"You got a continuation of what you saw yesterday," said Willie Delwiche, investment strategist at Baird. "You saw stock market weakness, you saw bond yields rising and you saw the Fed funds futures continuing to shift away from pricing in a rate cut in the near future."

The S&P 500 index fell 6.21 points, or 0.2%, to 2,917.52. The Dow Jones Industrial Average dropped 122.35 points, or 0.5%, to 26,307.79. The Nasdaq composite, which is heavily weighted with technology companies, slid 12.87 points, or 0.2%, to 8,036.77.

Smaller company stocks fared better. The Russell 2000 index rose 6.27 points, or 0.4%, to 1,582.65.

Major indexes in Europe finished mostly lower.

The S&P 500 index is up 16.4% for the year and notched three straight all-time highs before finishing lower Wednesday after the remarks by Federal Reserve Chair Jay Powell.

In those remarks, Powell played down the possibility of an interest rate cut this year and restated the central bank's message that there will likely be no rate hikes in 2019.

Those comments made it seem like investors had a "less supportive Fed" than they anticipated, said Brad McMillan, chief investment officer for Commonwealth Financial Network.

McMillan noted that a pullback in stocks was likely because they have been gaining so much over the last few weeks.

"We ran up to new highs again and I think the markets are getting a little bit nervous about that," he said.

The U.S. stock market has been riding high this year as it's made its way back from a nosedive at the end of 2018. The Fed spurred the market's recovery earlier this year when it signaled that it would take a patient approach to raising interest rates.

On Thursday, a slide in crude oil prices helped drag down energy stocks. The sector fell 1.7%, more than triple the declines in the technology and communications sectors.

Benchmark U.S. crude fell 2.8% to settle at $61.81 per barrel. Brent crude, the international standard, dropped 2% to close at $70.75.

Marathon Oil dropped 6.1% after the company reported revenue that fell short of estimates.

Technology stocks, the biggest gainers this year, also weighed on the market. Cognizant Technology Solutions led the sector's decliners, losing 7.7%. Microsoft fell 1.3%.

Among media companies, Fox Corp. and Discovery Inc. each fell more than 5%.

Investors were treated to a mostly mixed batch of corporate earnings reports Thursday.

Fluor was the biggest loser in the S&P 500. The engineering and construction company plunged 24.1% after it reported a huge quarterly loss and issued an earnings forecast that was far below what analysts were expecting.

Sports apparel company Under Armour gained 3.5% after it reported first quarter results that beat Wall Street forecasts. It also raised its profit forecast for the year.

Online games maker Zynga climbed 5.6% after raising its revenue forecast for the year.

Earnings reporting season is more than a third of the way through and the results have been better than investors had expected. Analysts had been predicting a slump in profits and their worst fears have not materialized.

The market seemed to approve of Tesla's decision to attempt to raise more than $2 billion in a stock and debt offering. The electric car maker reported a shrinking balance sheet and falling sales during the first quarter and CEO Elon Musk had suggested it might need to raise more money. The stock rose 4.3%.

Traders also proved hungry for Beyond Meat, which soared in its stock market debut. Shares in the maker of plant-based burgers and sausages zoomed more than twofold above their opening price of $25 each.

The company is the latest in a string of high-profile IPOs this year, including Slack, Lyft and Zoom.

Bond prices fell. The yield on the 10-year Treasury note, which influences mortgages and some other loans, rose to 2.54% from 2.51% late Wednesday.

In other commodities trading, wholesale gasoline fell 2.2% to $2.02 per gallon. Heating oil slid 0.8% to $2.08 per gallon. Natural gas dropped 1.2% to $2.59 per 1,000 cubic feet.

Gold fell 1% to $1,272 per ounce, silver lost 0.8% to $14.62 per ounce and copper slid 0.8% to $2.78 per pound.

The dollar weakened to 111.50 Japanese yen from 111.61 yen late Wednesday. The euro dropped to $1.1175 from $1.1194.


----------



## bigdog

*Japanese markets are closed for a week long holiday.*

A solid jobs report and company earnings spurred U.S. stocks broadly higher Friday, driving the S&P 500 to its second straight weekly gain.

The Nasdaq composite hit an all-time high for the second time this week. The benchmark S&P 500 index closed less than 0.1% below the record high it reached on Tuesday.

Technology and consumer-focused companies did the most to push the market higher. Stocks in the communications, industrial, financial and health care sectors also notched solid gains as traders cheered surprisingly good earnings from United States Steel, Weight Watchers and other companies.
*









*
https://www.usnews.com/news/busines...markets-mixed-following-losses-on-wall-street

*US Stocks End Broadly Higher on Solid Jobs Report, Earnings*
A solid jobs report and company earnings spurred U.S. stocks broadly higher Friday, driving the S&P 500 to its second straight weekly gain.
By Associated Press, Wire Service Content May 3, 2019, at 5:00 p.m.

By ALEX VEIGA, AP Business Writer

A solid jobs report and company earnings spurred U.S. stocks broadly higher Friday, driving the S&P 500 to its second straight weekly gain.

The Nasdaq composite hit an all-time high for the second time this week. The benchmark S&P 500 index closed less than 0.1% below the record high it reached on Tuesday.

Technology and consumer-focused companies did the most to push the market higher. Stocks in the communications, industrial, financial and health care sectors also notched solid gains as traders cheered surprisingly good earnings from United States Steel, Weight Watchers and other companies.

Investors also welcomed the government's latest snapshot of U.S. employment, which showed that job growth surged in April past economists' forecasts and unemployment fell to a five-decade low.

"Overall, this was a solid report that should assuage fears that the U.S. economy is losing momentum," said Quincy Krosby, chief market strategist at Prudential Financial.

The S&P 500 index gained 28.12 points, or 1%, to 2,945.64. The Dow Jones Industrial Average rose 197.16 points, or 0.7%, to 26,504.95. The Nasdaq composite climbed 127.22 points, or 1.6%, to 8,164.

Small-company stocks rose much more than the rest of the market, a bullish sign indicating that investors are more willing to take on risk. The Russell 2000 index picked up 31.37 points, or 2%, to 1,614.02.

Major indexes in Europe also closed higher.

Bond prices rose, sending the yield on the 10 year Treasury down to 2.52% from 2.55% late Thursday.

Despite a modest pullback earlier in the week, U.S. stocks have continued to press higher, extending their impressive recovery this year following a steep slump at the end of 2018.

The S&P 500 is now up 17.5% for the year. The Nasdaq is leading the way, however, with a gain of 23%.

The Federal Reserve fueled the market's recovery earlier this year when it signaled that it would take a patient approach to raising interest rates. Traders also have been encouraged by positive data on the U.S. economy and better-than-expected corporate earnings.

Corporate earnings for the first quarter have come in mixed so far, but good enough to ease worries that company profits would slump overall.

On Friday, United States Steel surged 17.3% after a sharp increase in sales helped push profit far beyond Wall Street forecasts.

Newell Brands, which makes Sharpie and Elmer's products, surged 13.5% on a solid earnings report.

Monster Beverage jumped 8.8% after the energy drinks company powered past analysts' first quarter profit forecast. The company reported a solid increase in sales of its namesake energy drink that helped drive a surge in profit.

Weight Watchers surged 13% after reporting losses for the first quarter that were much slimmer than expected. The company also raised its profit forecast for the year.

Arista Networks, a cloud computing company, plummeted 10.4% after telling investors that revenue in the current quarter will fall short of forecasts.

Meanwhile, Amazon rose 3.2% after billionaire investor Warren Buffet's said his company was buying the stock.

Crude oil prices recovered some of their losses from a day earlier. Benchmark U.S. crude rose 0.2% to settle at $61.94 per barrel. Brent crude, the international standard, gained 0.1% to close at $70.85.

In other commodities trading, wholesale gasoline rose 0.4% to $2.03 per gallon. Heating oil slid 0.4% to $2.07 per gallon. Natural gas dropped 0.8% to $2.57 per 1,000 cubic feet.

Gold gained 0.7% to $1,281.30 per ounce, silver jumped 2.5% to $14.98 per ounce and copper added 1.4% to $2.82 per pound.

The dollar weakened to 111.09 Japanese yen from 111.50 yen late Thursday. The euro rose to $1.1194 from $1.1175.

8388


----------



## bigdog

Fresh market jitters over the possibility of an escalation in the costly trade war between the U.S. and China pulled stocks broadly lower on Wall Street Monday.

President Donald Trump threatened over the weekend to raise tariffs on goods imported from China. Trump complained that the trade talks between the two countries are moving too slowly.

Stocks slumped early but then gradually recovered a good portion of the losses, a sign that investors' hopes of a trade deal haven't dimmed entirely. China remained committed to sending a delegation to talks later this week in Washington despite the Trump threat, and some investors appeared to conclude that the president's warning was just more high-stakes posturing.










https://www.usnews.com/news/busines...unge-after-trump-threatens-more-china-tariffs

*US Stocks Slide After Threat From Trump to Raise Tariffs*
Fresh market jitters over the possibility of an escalation in the costly trade war between the U.S. and China pulled stocks broadly lower on Wall Street Monday.
By Associated Press, Wire Service Content May 6, 2019, at 6:01 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Fresh market jitters over the possibility of an escalation in the costly trade war between the U.S. and China pulled stocks broadly lower on Wall Street Monday.

President Donald Trump threatened over the weekend to raise tariffs on goods imported from China. Trump complained that the trade talks between the two countries are moving too slowly.

Stocks slumped early but then gradually recovered a good portion of the losses, a sign that investors' hopes of a trade deal haven't dimmed entirely. China remained committed to sending a delegation to talks later this week in Washington despite the Trump threat, and some investors appeared to conclude that the president's warning was just more high-stakes posturing.

However, after the market closed, U.S. Trade Representative Robert Lighthizer said that the tariff increases that Trump threatened to impose on China would go into effect 12:01 a.m. Eastern time Friday. He did say negotiations would resume Thursday in Washington.

The ratcheting up of the trade rhetoric from Washington came after the U.S. and China sent signals in recent months that talks on resolving the dispute were progressing.

Hopes for an accord between the world's two largest economies contributed to the big run-up in stock prices in the U.S. and China so far this year. The S&P 500 and Nasdaq hit all-time highs last week.

However, investors have gotten their hopes up that the trade issue was close to being resolved a number of times in recent months, only to be disappointed when new flare-ups arose.

U.S. companies with heavy business interests in China bore the brunt of the selling Monday, particularly technology and industrial companies. Banks also fell sharply. Health care stocks rose.

The S&P 500 dropped 13.17 points, or 0.4%, to 2,932.47. At one point, the benchmark index had been down 1.6%.

The Dow Jones Industrial Average fell 66.47 points, or 0.3%, to 26,438.48. It had been down as much as 471 points in the first few minutes of trading.

"You've seen that the sell-off has been so far contained and part of that is the perception that the president has done this before," said Marina Severinovsky, investment strategist at Schroders.

The Nasdaq slid 40.71 points, or 0.5%, to 8,123.29. The Russell 2000 index of small company stocks bucked the trend, adding 0.95 points, or 0.1%, to 1,614.98.

Major indexes in Europe and Asia finished lower.

The U.S. and China have raised tariffs on tens of billions of dollars of each other's goods in their dispute over U.S. complaints about Chinese technology ambitions.

Trump turned up the heat Sunday when he threatened to raise tariffs on imports from China to 25% from 10%. He also said he would impose tariffs on another $325 billion in imports from China, covering everything the country ships annually to the United States.

Tariffs currently in place have already raised costs on goods for companies and consumers, and disrupted trade in goods from soybeans to medical equipment.

Many sectors of the market posted declines Monday, including technology, industrial and materials companies, retailers and banks.

Qualcomm, which gets 64.7% of its revenue from China, according to the data provider FactSet, fell 1.2%. Broadcom slid 1.3% and Apple dropped 1.5%.

Chipmakers Micron Technology and Advance Micro Devices each dropped 2.8%.

Industrial behemoth Caterpillar lost 1.7%, while Deere & Co. gave up 4%.

Wynn Resorts, with a host of casinos and hotels in Macau, gets about 75% of its revenue from China. Its stock tumbled 4.1%.

Investors fled to safer holdings. Bond prices rose, sending the 10-year Treasury yield down to 2.50% from 2.53% late Friday.

Chinese indexes plunged. The Shanghai Composite index closed 5.6% lower and Hong Kong's Hang Seng index sank 2.9%. European indexes fell broadly.

Shares of Chinese companies that trade in the U.S. also fell. J.D.com slid 4.5%, while internet search company Baidu dropped 1.5%.

Investors have been digesting mixed reports about the U.S.-China trade talks for months and have largely discounted concerns about a failure in negotiations. The broader market has been posting gains all year on encouraging economic growth and solid corporate earnings results.

Elsewhere in the market, Boeing fell 1.3% after it disclosed that it did not warn airlines about a faulty safety alert until after one of its planes crashed.

The sensors malfunctioned during an October flight in Indonesia and another in March in Ethiopia, causing software on the plane to push the nose down. Pilots were unable to regain control of either plane and both crashed, killing 346 people.

Energy futures closed mostly lower. Benchmark U.S. crude rose 0.5% to settle at $62.25 per barrel. Brent crude, the international standard, gained 0.6% to close at $71.24.

Wholesale gasoline fell 1.5% to $2 per gallon. Heating oil slipped 0.1% to $2.07 per gallon. Natural gas dropped 1.7% to $2.52 per 1,000 cubic feet.

Gold gained 0.2% to $1,283.80 per ounce, silver lost 0.3% to $14.93 per ounce and copper added 0.4% to $2.83 per pound.

The dollar fell to 110.90 Japanese yen from 111.09 yen late Friday. The euro strengthened to $1.1203 from $1.1194.


----------



## bigdog

The Dow Jones Industrial Average tumbled more than 470 points Tuesday amid a broad sell-off on Wall Street as the U.S. and China moved closer to an escalation of their already costly trade war.

The U.S. was set to impose higher tariffs on China on Friday, a day after representatives from both nations are scheduled to resume trade talks in Washington. Trump administration officials accused China of reneging on commitments made during weeks of negotiations.

Both sides had signaled progress was being made toward a resolution in recent weeks. Buoyed by those signs, as well as a more dovish stance on interest rates by the Federal Reserve and better signs on the economy, investors had furiously bought stocks and pushed the S&P 500 and Nasdaq to all-time highs last week. All major indexes still have double-digit gains for the year.










https://www.usnews.com/news/busines...stocks-mostly-higher-after-trump-trade-threat

*Worsening US-China Trade Tensions Rattle Financial Markets*
The Dow Jones Industrial Average tumbled more than 470 points Tuesday as the U.S. and China moved closer to an escalation of their already costly trade war.
By Associated Press, Wire Service Content May 7, 2019, at 5:04 p.m.

By ALEX VEIGA, AP Business Writer

The Dow Jones Industrial Average tumbled more than 470 points Tuesday amid a broad sell-off on Wall Street as the U.S. and China moved closer to an escalation of their already costly trade war.

The U.S. was set to impose higher tariffs on China on Friday, a day after representatives from both nations are scheduled to resume trade talks in Washington. Trump administration officials accused China of reneging on commitments made during weeks of negotiations.

Both sides had signaled progress was being made toward a resolution in recent weeks. Buoyed by those signs, as well as a more dovish stance on interest rates by the Federal Reserve and better signs on the economy, investors had furiously bought stocks and pushed the S&P 500 and Nasdaq to all-time highs last week. All major indexes still have double-digit gains for the year.

Analysts said the market was vulnerable to any reversals in the trade talks. This week investors have dumped shares of companies that bring in significant revenue from China, such as those in the technology and industrial sectors. Banks have also taken heavy losses.

"This is a game of poker and the U.S. is playing their hand," said Doug Cote, chief market strategist at Voya Investment Management. "Let's say the worst happens and they raise tariffs on Friday, well you're going to get another buying opportunity."

Every sector fell. Utilities, normally safe-play holdings for investors, fared better than the rest of the market. Bond prices also rose as investors sought out other ways to reduce risk.

The S&P 500 index slumped 48.42 points, or 1.7%, to 2,884.05. The Dow lost 473.39 points, or 1.8%, to 25,965.09. The index had been down 648. The Nasdaq composite, which is heavily weighted with technology stocks, fell 159.53 points, or 2%, to 7,963.76.

The Russell 2000 index of small company stocks gave up 32.66 points, or 2%, to $1,582.31. Major indexes in Europe also finished lower.

The rout is the first big jolt for stocks since the turn of the year, when fear began draining out of the market and the S&P 500 started its march back to record heights.

The U.S. and China have raised tariffs on tens of billions of dollars of each other's goods in their dispute over U.S. complaints about Chinese technology ambitions.

Washington has accused Beijing of reneging on its commitments and is preparing to raise import taxes on $200 billion of Chinese goods to 25% from 10%, and to impose tariffs on another $325 billion in imports, covering everything the country ships annually to the United States.

The possibility that the trade dispute could escalate represents a marked shift from just a few weeks ago, when talks between the U.S. and China appeared to be on track for an agreement.

The big rise in stocks since the beginning of the year partly reflects complacence among investors, said Mark Hackett, chief of investment research for Nationwide Investment Management.

"We've basically flipped from being too pessimistic to perhaps being too optimistic," he said.

The trade dispute between China and the United States is nothing new, and it had been hanging over the market even as the S&P 500 made its run to a record this year. But investors had been willing to push stocks higher despite it because they largely assumed a deal would eventually get done. That showed in share prices of U.S. companies that get big portions of their sales from China, which had done better than the rest of the market, according to analysts at Jefferies.

Trump's threat of additional tariffs is forcing investors to reassess those expectations. One measure of fear in the market, which tracks how much traders are paying to buy protection from price swings in the S&P 500, had its biggest jump Tuesday in nearly seven months. It remains low by historical standards, though, after earlier in the year dropping by more than half since the end of 2018.

It's yet to be determined whether the brinksmanship tactics from the Trump administration will help or hurt the prospects of a deal getting done quickly, something that investors want.

"This is such a short period of time that it's hard to speculate whether this will cause something to get done quickly or whether it will drag on for months," said Scott Wren, senior global equity strategist at Wells Fargo Investment Institute.

Energy futures closed mostly lower. Benchmark U.S. crude fell 1.4% to settle at $61.40 per barrel. Brent crude, the international standard, lost 1.9% to close at $69.88.

Wholesale gasoline fell 2.4% to $1.95 per gallon. Heating oil lost 1.5% to $2.04 per gallon. Natural gas rose 0.5% to $2.54 per 1,000 cubic feet.

Gold gained 0.1% to $1,285.60 per ounce, silver was little changed at $14.93 per ounce and copper fell 1.6% to $2.79 per pound.

The dollar fell to 110.27 Japanese yen from 111.90 yen. The euro weakened to $1.1183 from $1.1203.


----------



## bigdog

A modest rally faded in the last few minutes of trading on Wall Street, leaving stocks slightly lower Wednesday ahead of the latest round of trade talks between the U.S. and China.

The late-afternoon reversal added to the market's losses following a steep sell-off a day earlier as investors worry that the costly trade dispute between the world's two biggest economies will escalate.

Financial markets turned volatile this week after President Donald Trump threatened to impose more tariffs on Chinese goods, a threat that is set to become reality early Friday. Negotiations between the U.S. and China are scheduled to continue in Washington on Thursday, and will include China's top trade official.










https://www.usnews.com/news/busines...china-trade-tensions-rattle-financial-markets

*US Stocks Slide as Modest Rally Fades Ahead of Trade Talks*
A modest rally faded in the last few minutes of trading on Wall Street, leaving stocks slightly lower Wednesday ahead of the latest round of trade talks between the U.S. and China.

By Associated Press, Wire Service Content May 8, 2019, at 5:12 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

A modest rally faded in the last few minutes of trading on Wall Street, leaving stocks slightly lower Wednesday ahead of the latest round of trade talks between the U.S. and China.

The late-afternoon reversal added to the market's losses following a steep sell-off a day earlier as investors worry that the costly trade dispute between the world's two biggest economies will escalate.

Financial markets turned volatile this week after President Donald Trump threatened to impose more tariffs on Chinese goods, a threat that is set to become reality early Friday. Negotiations between the U.S. and China are scheduled to continue in Washington on Thursday, and will include China's top trade official.

Trump said on Twitter that China is coming "to make a deal" but that he'll still be ready to raise tariffs if the negotiations fail to produce an agreement.

That appeared to give the market a boost, but it didn't last.

"Investors are concerned that a deal may not be forthcoming," said Quincy Krosby, chief market strategist at Prudential Financial. "You don't want to be caught off-guard by perhaps a negative comment out of Beijing overnight or, for that matter, the White House."

The S&P 500 index fell 4.63 points, or 0.2%, to 2,879.42. The benchmark index had been up 0.5%.

The Dow Jones Industrial Average inched up 2.24 points, or less than 0.1%, to 25,967.33. The Nasdaq composite dropped 20.44 points, or 0.3%, to 7,943.32.

The Russell 2000 index of small company stocks slid 7.34 points, or 0.5%, to 1,574.97.

Major stock indexes in Europe closed with modest gains.

Bond prices fell. The yield on the 10-year Treasury rose to 2.48% from 2.44% late Tuesday.

Utilities, banks, internet companies and technology stocks accounted for much of the slide. NRG Energy fell 4.4%, Capital One Financial dropped 1.5%, Netflix slid 1.6% and Intel lost 2.5%. Health care stocks notched the biggest gains, led by McKesson Crop., which climbed 4.8%.

The U.S. and China have raised tariffs on tens of billions of dollars of each other's goods in their dispute over U.S. complaints about China's technology ambitions and practices.

Investors have been anticipating a deal throughout this year, which contributed to double-digit gains in all the major indexes. But the latest tough talk is raising anxiety on Wall Street and casting more doubt about a resolution.

The U.S. government has filed plans to raise tariffs on $200 billion worth of Chinese imports from 10% to 25% Friday. If it follows through on those plans, it would mark a sharp escalation in the yearlong trade dispute that has raised prices on goods for consumers and companies.

The Trump administration also has threatened to extend 25% tariffs to another $325 billion in Chinese imports, covering everything China ships to the United States.

The possibility that the trade dispute could escalate represents a marked shift from just a few weeks ago, when talks between the U.S. and China appeared to be on track for an agreement.

"There's still is uncertainty out there on the three possible outcomes: We get a trade deal out of this in the short term, we get something out of it in the long term and the U.S. and China keep talking, or we get no trade deal," said Jeff Zipper, managing director at U.S. Bank Private Wealth Management.

Investors also continued to pore over the latest batch of corporate earnings reports.

Lyft slumped 10.8% in heavy trading after reporting a first quarter loss late Tuesday that was far wider than Wall Street had forecast.

The ride-hailing company lost $1.1 billion in its first quarter as a public company, primarily because it paid out $894 million in stock-based compensation and related payroll taxes during its initial public offering.

Lyft's stock has now slumped 26.5% since its market debut on March 29. The report came just days before the hotly anticipated IPO of Lyft's much larger rival, Uber, on Friday.

Traders punished TripAdvisor's report of surprisingly low revenue during the first quarter. Analysts expected a gain. The company said international sales were softer than expected. The stock tumbled 11.4%.

Marathon Petroleum slid 7.1% after the oil refiner reported a surprise first quarter loss and announced the merger of two of its operations for $9 billion.

Others fared better. Electronic Arts rose 1.2% after the video game maker soared past Wall Street's fiscal fourth quarter profit forecasts. The company also beat revenue forecasts. It launched several new games during the quarter, including "Apex Legends" as it competes with hit games like "Fortnite" from rival Epic Games.

Qorvo climbed 3.4% after the chipmaker beat Wall Street's fourth-quarter profit and revenue forecasts gave investors a strong forecast for the current quarter.

Energy futures finished higher. Benchmark U.S. crude rose 1.2% to settle at $61.12 per barrel. Brent crude, the international standard, added 0.7% to close at $70.37.

Wholesale gasoline gained 1.3% to $1.98 per gallon. Heating oil picked up 0.9% to $2.06 per gallon. Natural gas rose 2.9% to $2.61 per 1,000 cubic feet.

Gold dropped 0.3% to $1,281.40 per ounce, silver slid 0.4% to $14.86 per ounce and copper fell 0.4% to $2.77 per pound.

The dollar fell to 110.13 Japanese yen from 110.27 yen on Tuesday. The euro strengthened to $1.1192 from $1.1183.


----------



## bigdog

Stocks closed broadly lower on Wall Street Thursday, extending the market's slide into a fourth straight day, as investors braced for a possible escalation in the trade war between the U.S. and China.

Tensions between the world's two largest economies dragged stocks lower ahead of a Friday deadline when the United States said it would impose more tariffs on Chinese goods. The worries about trade this week have halted what has been the hottest start to a year for U.S. stocks in decades, and the S&P 500 index is on pace for its worst week of 2019.

Thursday's sell-off began steep and widespread, but lost momentum by afternoon, allowing the market to stem some of its losses.










https://www.usnews.com/news/busines...ostly-lower-amid-jitters-ahead-of-trade-talks

*Stocks End Lower Ahead of US-China Trade War Deadline*
Stocks closed broadly lower on Wall Street Thursday, extending the market's slide into a fourth straight day, as investors braced for the possible escalation in the trade war between the U.S. and China.
By Associated Press, Wire Service Content May 9, 2019, at 4:48 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

Stocks closed broadly lower on Wall Street Thursday, extending the market's slide into a fourth straight day, as investors braced for a possible escalation in the trade war between the U.S. and China.

Tensions between the world's two largest economies dragged stocks lower ahead of a Friday deadline when the United States said it would impose more tariffs on Chinese goods. The worries about trade this week have halted what has been the hottest start to a year for U.S. stocks in decades, and the S&P 500 index is on pace for its worst week of 2019.

Thursday's sell-off began steep and widespread, but lost momentum by afternoon, allowing the market to stem some of its losses.

Still, analysts said the market was likely in for more pain until the uncertainty over the costly trade dispute is resolved.

"China and trade remain the biggest drag and the biggest overhang for the market," said Ben Phillips, chief investment officer at EventShares. "If there's not a deal within the next four to six weeks, the market is going to continue to be under pressure and sell off."

The S&P 500 fell 8.70 points, or 0.3%, to 2,870.72. The benchmark index has essentially given back all its April gains, though it's still up 14.5% for the year.

The Dow Jones Industrial Average dropped 138.97 points, or 0.5%, to 25,828.36. It was down nearly 450 points in morning trading before regaining much of the ground it lost.

The Nasdaq composite slid 32.73 points, or 0.4%, to 7,910.59. The Russell 2000 index of small company stocks gave up 4.92 points, or 0.3%, to 1,570.06.

Major indexes in Europe and Asia also finished lower.

Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 2.45%.

The U.S. government has filed plans to raise tariffs on $200 billion worth of Chinese imports from 10% to 25%. The Trump administration has also threatened to extend 25% tariffs to another $325 billion in Chinese imports, covering everything China ships to the United States.

If the increases take effect as planned, Beijing will impose "necessary countermeasures," the Commerce Ministry said. It gave no details, but a ministry spokesman said Beijing has made "all necessary preparations," suggesting it might be bracing for a worsening conflict.

Such moves would mark a sharp escalation in the trade dispute that has raised prices on goods for consumers and companies.

Technology stocks were among the big decliners, as many companies in the sector get much of their revenue from China. The sector slid 0.7%.

Raw material producers also took heavy losses. Real estate stocks, which investors see as a safe-play sector, eked out a slight gain.

Occidental Petroleum tumbled 6.4% after Chevron pulled out of a potential bidding war with the company to buy Anadarko. Energy companies also fell with the price of oil, as benchmark U.S. crude dropped 0.7% to settle at $61.70 per barrel. Brent crude, the international standard, closed essentially flat at $70.39 per barrel.

CenturyLink skidded 5% after the communications provider reported weaker revenue for the latest quarter than analysts expected.

Investors bid up shares in Tapestry after the maker of Kate Spade and Coach handbags beat first quarter profit forecasts and announced a $1 billion stock buyback plan. The stock vaulted 8.5%, the biggest gainer in the S&P 500.

The trade war between Washington and Beijing is nothing new. The U.S. and China have already raised tariffs on tens of billions of dollars of each other's goods in their dispute over U.S. complaints about Beijing's industrial and technology policies and a perennial U.S. deficit in trade with China.

But earlier this year, investors were growing increasingly confident that the two sides would eventually find a deal on trade. That helped to calm markets following a tumultuous end to 2018, and the S&P 500 rallied back to a record despite the trade dispute.

A more patient Federal Reserve, which said it may not raise interest rates at all this year, also helped to clear worries about a possible recession, and the S&P 500 vaulted 17.5% higher in the first four months of the year.

But the calm shattered earlier this week after the United States set the Friday deadline for adding more tariffs.

"We need to be prepared for continuing uncertainty in the trade war," said Kristina Hooper, chief global market strategist at Invesco.

Investors prematurely priced a resolution into the markets, she said, and now it's likely the additional tariffs will be applied. She said investors still want to believe that a positive resolution is possible and any progress in the negotiations now could "create something of a rally or certainly help stabilize stocks."

In other commodities trading Thursday, wholesale gasoline ended little changed at $1.98 per gallon. Heating oil dropped 0.6% to $2.04 per gallon. Natural gas slid 0.6% to $2.60 per 1,000 cubic feet.

Gold rose 0.3% to $1,285.20 per ounce, silver slid 0.6% to $14.77 per ounce and copper inched 0.1% lower to $2.77 per pound.

The dollar fell to 109.69 Japanese yen from 110.13 yen on Wednesday. The euro strengthened to $1.1224 from $1.1192.


----------



## bigdog

Wall Street capped a turbulent week with a late-day rally Friday after shaking off an early slump triggered by the latest escalation in the trade war between the U.S. and China.

The market fell sharply in the early going after the U.S. raised tariffs on $200 billion worth of Chinese goods when negotiators failed to reach a deal. Hours later, remarks from President Donald Trump and Treasury Secretary Steven Mnuchin gave investors reason for optimism.

First, Mnuchin told CNBC that the trade talks had been "constructive," which spurred the market's rebound. Then, in a late-afternoon tweet, Trump suggested the tariffs could be removed and that the trade talks "will continue."










https://www.usnews.com/news/busines...ostly-gain-shanghai-up-3-after-us-tariff-hike

*Stocks Rebound as Hopes Rise That Trade Tensions Will Ease*
Wall Street capped a turbulent week with a late-day rally Friday after shaking off an early slump triggered by the latest escalation in the trade war between the U.S. and China.
By Associated Press, Wire Service Content May 10, 2019, at 5:07 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street capped a turbulent week with a late-day rally Friday after shaking off an early slump triggered by the latest escalation in the trade war between the U.S. and China.

The market fell sharply in the early going after the U.S. raised tariffs on $200 billion worth of Chinese goods when negotiators failed to reach a deal. Hours later, remarks from President Donald Trump and Treasury Secretary Steven Mnuchin gave investors reason for optimism.

First, Mnuchin told CNBC that the trade talks had been "constructive," which spurred the market's rebound. Then, in a late-afternoon tweet, Trump suggested the tariffs could be removed and that the trade talks "will continue."

The afternoon pickup led to a broad reversal in the market, leaving only health care stocks with a loss. Still, the buying did little to blunt the overall sharp decline for stocks this week. The benchmark S&P 500 index finished with its worst weekly loss of the year, 2.2%.

"Nobody wants to sell too aggressively just in case things get settled and the market rallies," said J.J. Kinahan, chief market strategist for TD Ameritrade. "As long as they're still talking there's a chance that this gets done."

The S&P 500 index rose 10.68 points, or 0.4%, to 2,881.40. The broad index, which earlier had been down 1.6%, has given back much of the gains it made in April. It's still up 14.9% for the year.

The Dow Jones Industrial Average gained 114.01 points, or 0.4%, to 25,942.37. It was down as much as 358 earlier. The Nasdaq added 6.35 points, or 0.1%, to 7,916.94. The technology heavy index rebounded after having been down as much as 1.9% earlier.

The Russell 2000 index of small company stocks also closed higher after being down much of the day. It picked up 2.94 points, or 0.2%, to 1,572.99. Major indexes in Europe closed mostly higher.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.47% from 2.45% late Thursday.

The higher tariffs from the U.S. and China's response that it would take "necessary countermeasures" rattled investors Friday who had been hoping for a quick resolution to the dispute. Confidence in that outcome had eased investors' concerns this year, along with a more patient Federal Reserve and solid economic data. It all added up to help push stocks to their hottest start to a year in decades.

The trade war has stressed consumers and companies with higher costs on goods. The latest tariff increase raises tariffs from 10% to 25% on $200 billion of Chinese imports. Trump has signaled that he might expand penalties to all Chinese goods shipped to the U.S.

The reaction in the stock market this week has been sharp, but even after this week's tumult, the S&P 500 index remains within 2.2% of its record set on April 30.

That's because many investors continue to expect the United States and China to come to an agreement eventually, said Anthony Saglimbene, global market strategist at Ameriprise Financial. Neither country would benefit from not getting a deal, he said. In the meantime, the U.S. job market continues to grow, and balance sheets for American households remain better than before the Great Recession.

"We have advised long term investors to look through the noise of the next few weeks and what goes on with trade because the economy is strong and earnings should grow better than expected," Saglimbene said. "I wouldn't expect the market would go down 5 or 10% just because we put these tariffs on. I would expect it would decline 5 or 10% if the trade tensions are escalating."

Things, though, could get dicier not only if the U.S.-China talks break down but also if the trade war intensifies on other fronts. The United States may be nearing a decision on whether to impose tariffs on imports of European automobiles, for example.

The market's gains this year had been slow but steady up until this week. Prior to this week, the S&P 500 only had four losing weeks this year, most of them minor. Other than that, it's been mostly up amid a mostly muted year with no major market-moving news. Investors have been cautiously watching corporate earnings, and have been mostly surprised by solid results, though several big companies, including Mylan, TripAdvisor and Wynn Resorts fell sharply after disclosing disappointing earnings or outlooks.

The slump this week has been especially hard on technology stocks, which have far outpaced the rest of the market this year. Those companies do a lot of business in China and would stand to lose greatly if the trade war drags on.

The Nasdaq index, which is heavily weighted with technology stocks, lost 3% for the week after an even stronger run this year than the S&P 500. The weekly drop is only its third this year and the biggest since late December. The Nasdaq is still up 19.3% in 2019.

Uber had an inauspicious debut on the stock market. The giant ride-hailing company's hotly anticipated stock offering landed with a flop as its shares slid as low as $41.06 in very heavy volume shortly after trading opened. That was well below Uber's initial offering price of $45 a share. That price was already at the low end of its targeted price range. It closed 7.6% lower at $41.57.

Investors are cautious about Uber after its main rival, Lyft, had a rollercoaster stock market debut on March 29. Lyft initially surged well beyond its IPO price, but then slumped on its first full day of trading. That stock closed Friday at $51.09, down 7.4% on the day and well below its IPO price of $72.

Energy futures finished mostly higher. Benchmark U.S. crude inched 0.1% lower to settle at $61.66 per barrel. Brent crude, the international standard, closed 0.3% higher at $70.62 per barrel.

Wholesale gasoline added 0.7% to $1.99 per gallon. Heating oil gained 0.3% to $2.05 per gallon. Natural gas picked up 0.9% to $2.62 per 1,000 cubic feet.

Gold rose 0.2% to $1,287.40 per ounce, silver added 0.1% to $14.79 per ounce and copper inched 0.1% higher to $2.77 per pound.

The dollar rose to 109.90 Japanese yen from 109.69 yen on Thursday. The euro strengthened to $1.1231 from $1.1224.

8776


----------



## bigdog

The Dow Jones Industrial Average plunged more than 600 points Monday as investors sought shelter from an escalating trade war between the U.S. and China.

The selling was widespread and heavy, handing the benchmark S&P 500 index its biggest loss since January. The sell-off extended the market's slide into a second week. The losses so far in May have now erased the market's gains from April.

Technology companies, which do a lot of business with China, led the way lower. Chipmakers were among the biggest decliners. Apple also took heavy losses, tumbling 5.8%. Farming equipment maker Deere drove losses in the industrial sector.

China on Monday announced tariff increases on $60 billion of U.S. imports, particularly farm products like soybeans. The price of soybeans slid 0.8% to $8.04 a bushel. They were trading around $9 a bushel last month and are now at their lowest price since December 2008. The falling price has put pressure on U.S. farmers.

Technology stocks took the heaviest losses Monday. Chipmakers Microchip Technology dropped 6.3% and Advanced Micro Devices lost 6.2%.










https://www.usnews.com/news/busines...in-asia-after-no-deal-in-china-us-trade-talks

*Escalating US-China Trade War Sends Stocks Plunging*
Stocks plummeted Monday as the U.S. and China rattle markets with an escalating trade war.
By Associated Press, Wire Service Content May 13, 2019, at 5:31 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

The Dow Jones Industrial Average plunged more than 600 points Monday as investors sought shelter from an escalating trade war between the U.S. and China.

The selling was widespread and heavy, handing the benchmark S&P 500 index its biggest loss since January. The sell-off extended the market's slide into a second week. The losses so far in May have now erased the market's gains from April.

Technology companies, which do a lot of business with China, led the way lower. Chipmakers were among the biggest decliners. Apple also took heavy losses, tumbling 5.8%. Farming equipment maker Deere drove losses in the industrial sector.

The world's two largest economies had seemed to be on track to resolve the ongoing trade dispute that has raised prices for consumers and pinched corporate profit margins. Hopes for a resolution had helped push the market to its best yearly start in decades.

Those hopes are now replaced by concerns that a full-blown trade war could crimp what is otherwise a mostly healthy economy.

"The larger issue with the tariffs isn't the specific amounts of tariffs at any given time, but the uncertainty that's surrounding these tariffs and the 'what's-next?' of an escalating trade war," said Willie Delwiche, investment strategist at Baird. "That weighs on the global economy and could then weigh on the U.S. economy."

The Dow dove 617.38 points, or 2.4%, to 25,324.99. Earlier, it was down 719 points. Apple and Boeing were the Dow's biggest decliners. Both companies get a significant amount of revenue from China and stand to lose heavily if the trade war drags on. Boeing slid 4.9%.

The broader S&P 500 index fell 69.53 points, or 2.4%, to 2,811.87. The index is coming off its worst week since January, though it's still up sharply for the year. The Nasdaq, which is heavily weighted with technology stocks, slid 269.92 points, or 3.4%, to 7,647.02, its worst drop of the year.

The Russell 2000 index of small company stocks lost 49.99 points, or 3.2%, to 1,523.

Trade talks between the U.S. and China concluded Friday with no agreement and with the U.S. increasing import tariffs on $200 billion of Chinese goods to 25% from 10%. Officials also said they were preparing to expand tariffs to cover another $300 billion of goods.

China on Monday announced tariff increases on $60 billion of U.S. imports, particularly farm products like soybeans. The price of soybeans slid 0.8% to $8.04 a bushel. They were trading around $9 a bushel last month and are now at their lowest price since December 2008. The falling price has put pressure on U.S. farmers.

Analysts have said investors should prepare for a more volatile stock market while the trade dispute deepens. Many are still confident that both sides will eventually reach a deal.

"Since we see a trade accord being reached in the not-too-distant future, we don't expect the market to endure more than a short-lived spate of indigestion," said Sam Stovall, chief investment strategist at CFRA.

Technology stocks took the heaviest losses Monday. Chipmakers Microchip Technology dropped 6.3% and Advanced Micro Devices lost 6.2%.

Some of the biggest chipmakers in the U.S. lean heavily on China for their sales, making them particularly vulnerable to the worsening tensions between the two countries. With China now retaliating against the Trump administration's tariffs, it has become more likely the chip sector will be caught in the crossfire and take a hit to their profits.

The list of chipmakers that get at least one-quarter of their revenue from China include: Qualcomm (65, Micron (57%), Texas Instruments (43%), Microchip Technology (29%), Intel (26%) and Xilinx (25%), according to FactSet Research.

Bank stocks also fell sharply. Bank of America dropped 4.5% and JPMorgan Chase fell 2.7%.

Safe-play holdings were the only winners as traders sought to reduce their exposure to risk. Utilities were the only sector to notch a gain. Prices for U.S. government bonds, which are considered ultra-safe investments, rose sharply, sending yields lower. The yield on the 10-year Treasury fell to 2.40% from 2.45% late Friday.

In another sign of how nervous investors were feeling, an index known as Wall Street's "fear gauge," which measures how much volatility the market expects in the future, spiked 28.1%. The VIX, however, is still far below the elevated levels it reached at the end of last year when the S&P 500 came extremely close to entering a bear market, meaning a decline of 20% or more from a recent peak.

The deteriorating trade negotiations follow what has been a mostly calm period of trading where solid economic data and corporate earnings helped push the market steadily higher. The S&P 500 is still up 12.2% of the year with technology stocks still boasting an 18% gain.

First quarter corporate earnings reports have been better than expected. Instead of a sharp contraction, profits for the S&P 500 are down less than 1%. However, the fallout from the trade war could spoil an expected earnings recovery in the second half.

The escalating trade war threatens to spoil an expected earnings recovery in the second half, however.

"Investors are increasingly worried an anticipated second-half profit rebound may now evaporate as President (Donald) Trump's threat to tariff the remaining $325 billion in Chinese imports would disproportionately target consumer products like iPhones, thereby posing a greater threat to the consumption-driven US economy," said Alec Young, managing director of global markets research at FTSE Russell.

Elsewhere in the market, generic drug developers slumped after many of them were accused of artificially inflating and manipulating prices. A lawsuit from attorneys general in more than 40 states alleges that for many years the makers of generic drugs worked together to fix prices.

Teva, which was specifically mentioned, sank 14.8%. Mylan skidded 9.4%

Ride-sharing company Uber tumbled another 10.8% on its first full day of trading following its rocky debut on the stock market Friday. The stock had priced at $45 at its initial public offering. It closed at $37.10.

Gold mining companies rose as the price of gold, another safe-play asset, rose 1.1% to $1,301.80 an ounce. Newmont Goldcorp rose 2.5%.

Energy futures finished mostly lower. U.S. crude dropped 1% to settle at $61.04 per barrel. Brent crude, the international standard, closed 0.6% lower at $70.23 per barrel.

Wholesale gasoline slid 1.3% to $1.96 per gallon. Heating oil lost 0.6% to $2.04 per gallon. Natural gas inched 0.1% higher to $2.62 per 1,000 cubic feet.

Silver slipped 0.1% to $14.78 per ounce and copper rose 2% to $2.72 per pound.

The dollar fell to 109.34 Japanese yen from 109.90 yen on Friday. The euro held steady at $1.1231.


----------



## bigdog

Stocks climbed on Tuesday and clawed back a chunk of their losses from Monday's rout, the latest whipsaw move as investors weigh just how badly the escalating U.S.-China trade war will hurt the economy.

The day's rally was nearly a mirror image of Monday's plunge, when the S&P 500 had its worst day since early January, just not as severe: Technology companies led the way higher after bearing the brunt of the selling on Monday, Treasury yields rose modestly and gold gave back a bit of its gains.

The S&P 500 rose 22.54 points, or 0.8%, to 2,834.41. It recovered nearly a third of its loss from Monday, and would now need to rise 3.9% to regain the record it set a couple weeks ago. The Dow Jones Industrial Average rose 207.06, or 0.8%, to 25,532.05, and the Nasdaq composite index jumped 87.47, or 1.1%, to 7,734.49.










https://www.usnews.com/news/busines...see-moderate-losses-after-meltdown-on-wall-st

*Stocks Rise, Claw Back Chunk of Monday's Trade-War Plunge*
Stocks clawed higher and regained some lost ground following a rout over trade war anxiety.
By Associated Press, Wire Service Content May 14, 2019, at 4:45 p.m.

By DAMIAN J. TROISE and STAN CHOE, AP Business Writers

NEW YORK (AP) — Stocks climbed on Tuesday and clawed back a chunk of their losses from Monday's rout, the latest whipsaw move as investors weigh just how badly the escalating U.S.-China trade war will hurt the economy.

The day's rally was nearly a mirror image of Monday's plunge, when the S&P 500 had its worst day since early January, just not as severe: Technology companies led the way higher after bearing the brunt of the selling on Monday, Treasury yields rose modestly and gold gave back a bit of its gains.

The S&P 500 rose 22.54 points, or 0.8%, to 2,834.41. It recovered nearly a third of its loss from Monday, and would now need to rise 3.9% to regain the record it set a couple weeks ago. The Dow Jones Industrial Average rose 207.06, or 0.8%, to 25,532.05, and the Nasdaq composite index jumped 87.47, or 1.1%, to 7,734.49.

Of course, stocks are still lower than they were last week, following China's pledge to raise tariffs on U.S. goods. Stocks also remain lower than they were on May 5, when President Donald Trump ignited this latest round of fear for markets by announcing on Twitter that the U.S. would raise tariffs on Chinese goods.

Tuesday's rally came after another round of morning Trump tweets on trade. He said, "When the time is right we will make a deal with China," and he cited his "unlimited" respect for and friendship with China's leader.

Investors are looking for a "place of equilibrium," said Mark Hackett, chief of investment research for Nationwide Investment Management.

"My skepticism is that there's really not a lot of news driving the rally," he said. "It feels like an attempted recovery that may not have legs."

In the meantime, any further hints of resolution on the trade dispute — or Twitter storms — could drive markets into their next swing.

"We're not counting on a full resolution," said John Lynch, chief investment strategist at LPL Financial. "But, we're looking for a path to progress."

The worries about trade have shattered what had been a remarkably steady rise for stocks at the start of this year. As 2019 began, investors increasingly bet that a trade deal would happen, and the Federal Reserve said it would take a pause in raising interest rates, which helped the S&P 500 rocket to its best start to a year in decades.

If the trade dispute gets worse, or lasts longer than many expect, it could hurt confidence among businesses and households. If that in turn drives spending lower, it would lead to lower economic growth and corporate profits.

On Tuesday, at least, such worries eased. An index known as Wall Street's "fear gauge," which measures how much traders are paying to protect themselves from upcoming price swings for stocks, dropped 12.1%. A day earlier, it had spiked 28.1 %.

The VIX index remains higher than it's been for much of the past five years, but fear is considerably lower than it was during the market sell-off late last year sparked by worries about a possible recession.

Investors also returned to stocks of tech companies, which may have the most to lose from a protracted U.S.-China trade battle because many of their customers and suppliers are abroad. Tech stocks in the S&P 500 jumped 1.6%, with semiconductor companies making particularly big gains.

A day earlier, tech stocks had taken the market's heaviest losses.

On the flip side were utility stocks, which were the only one of the 11 sectors that make up the S&P 500 to fall. A day earlier, when all the fear in the market put an alluring spotlight on the utility sector's steady profits and dividends, they had been the only S&P 500 sector to manage a gain.

Other investments seen as safe harbors also dropped, such as U.S. government bonds. When a bond's price falls, its yield rises, and the yield on the 10-year Treasury rose to 2.41% from 2.40% late Monday. It was at 2.45% at the end of last week.

Gold is another investment that tends to do fade when investors are feeling more optimistic, and it fell $5.50 to settle at $1,296.30 per ounce.

In overseas stock markets, European indexes gained. The French CAC 40 jumped 1.5%, the German Dax rose 1% and the FTSE 100 in London climbed 1.1%. Asian markets were mixed. The Hang Seng in Hong Kong dropped 1.5%, Japan's Nikkei 225 fell 0.6% and South Korea's Kospi ticked up 0.1%.

In the commodities markets, silver rose 4 cents to $14.81 per ounce, and copper gained a penny to $2.73 per pound.

Benchmark U.S. oil rose 74 cents to settle at $61.78 per barrel. Brent crude, the international standard, gained $1.01 to $71.24 a barrel.

Natural gas rose 4 cents to $2.66 per 1,000 cubic feet, heating oil rose 2 cents to $2.06 per gallon and wholesale gasoline rose a penny to $1.98 per gallon.

The dollar rose to 109.64 Japanese yen from 109.34 yen late Monday. The euro slipped to $1.1207 from $1.1231, and the British pound fell to $1.2905 from $1.2965.


----------



## bigdog

*SEA OF GREEN IS VERY PLEASING*

Stocks reversed an early slide on Wall Street and finished broadly higher Wednesday, giving the market its second straight gain in a week of bumpy trading.

Big technology and communications companies, including Microsoft, Apple and Google parent Alphabet, led the rally as the market shrugged off an initial stumble. Banks took heavy losses following a sharp drop in bond yields.

Investors got in a buying mood after Treasury Secretary Steven Mnuchin gave a Senate subcommittee a promising update on the Trump administration's efforts to reach a trade deal with Canada and Mexico. Markets also got a boost from reports that the White House plans to delay new tariffs on car and auto parts imports from Europe by up to six months.










https://www.usnews.com/news/business/articles/2019-05-15/asian-stocks-follow-wall-street-higher

*US Stocks Extend Gains After Recovering From Early Slide*
Stocks reversed an early slide on Wall Street and finished broadly higher Wednesday, giving the market its second straight gain.

By Associated Press, Wire Service Content May 15, 2019, at 5:01 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks reversed an early slide on Wall Street and finished broadly higher Wednesday, giving the market its second straight gain in a week of bumpy trading.

Big technology and communications companies, including Microsoft, Apple and Google parent Alphabet, led the rally as the market shrugged off an initial stumble. Banks took heavy losses following a sharp drop in bond yields.

Investors got in a buying mood after Treasury Secretary Steven Mnuchin gave a Senate subcommittee a promising update on the Trump administration's efforts to reach a trade deal with Canada and Mexico. Markets also got a boost from reports that the White House plans to delay new tariffs on car and auto parts imports from Europe by up to six months.

"The market does not believe that the trade discord will be protracted or widen, nor lead to a worldwide economic slowdown, or worse yet, a global recession," said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 index gained 16.55 points, or 0.6%, to 2,850.96. The Dow Jones Industrial Average rose 115.97 points, or 0.5%, to 25,648.02. The index had briefly fallen 190 points.

The Nasdaq, which is heavily weighted with technology stocks, added 87.65 points, or 1.1%, to 7,822.15.

Small-company stocks lagged the market. The Russell 2000 index picked up 5.21 points, or 0.3%, to 1,548.27.

Major indexes in Europe closed higher.

Stocks have been whipsawed this week by worries over the worsening trade relationship between China and the U.S. and the fallout it may have on the broader global economy. The market plunged Monday, bounced back Tuesday and see-sawed Wednesday.

On Wednesday, Mnuchin told a Senate subcommittee that the U.S. is making progress on lifting tariffs imposed on steel and aluminum from Canada and Mexico, potentially overcoming a key hurdle toward approval of a trade agreement between the three countries.

Addressing another contentious trade issue, Mnuchin also said he expects to soon travel to Beijing with U.S. Trade Representative Robert Lighthizer to resume negotiations on the trade dispute between the U.S. and China. President Donald Trump has said that he expects to meet Xi in late June at the G-20 summit in Osaka, Japan.

Tensions between the world's two biggest economies intensified over the last week. The Trump administration more than doubled tariffs on $200 billion in Chinese imports and spelled out plans to target the $300 billion worth that aren't already facing 25% taxes. The escalation covers everything from sneakers to toasters to billiard balls. The Chinese have retaliated by hiking tariffs on $60 billion in U.S. imports.

The escalation in trade tensions surprised investors who had been expecting a resolution. That confidence was a key component of the stock market's sharp gains so far this year. Analysts have been warning that the stock market will remain volatile as long as the U.S. and China remain locked in their latest spat.

Major carmakers turned higher Wednesday following media reports that the U.S. is planning to delay new tariffs on car and auto part imports from Europe. The proposed tariffs would add another front to U.S. trade disputes and increase investors' anxiety.

Both European and U.S. automakers stand to suffer from retaliatory tariff increases that would cut into international sales. Ford rose 1.2%, Fiat Chrysler added 1.5% and General Motors gained 0.9%.

Wednesday's rally could be a case of investors reading too much into what is otherwise good news on the trade front. In this case, the potential delay in tariff increases for European cars could signal something more worrisome.

"The market is having an overly optimistic reaction to the small kernels of positive news flow that have come out today," said Kristina Hooper, chief global market strategist at Invesco. "I would argue the developments we heard today only underscore the precarious situation the U.S. is in with China."

Banks lagged the broader market as bond yields slumped. Bond prices rose sharply, sending yields lower, after some surprisingly disappointing economic data in the U.S. including weak figures on retail sales and industrial production.

The yield on the 10-year Treasury note, which is used to set rates on many kinds of loans including mortgages, fell to 2.37% from 2.42% late Tuesday, a large move.

That decline in yields hurts banks because it cuts into profit from interest on loans. Bank of America fell 1.2% and Citigroup slid 0.6%.

Technology and communications stocks accounted for much of the market's rally. Microsoft rose 1.4%, Apple gained 1.2% and Alphabet climbed 4.1%. Video game publisher Activision Blizzard also rose, adding 3.5%.

Not all technology stocks did well, however. Chipmakers, which are heavily dependent on China for sales, remained weak. Nvidia skidded 1.5%.

Progressive rose 5.2% after it gave investors a solid first quarter earnings report and renewed its stock buyback plan. The insurance company reported a sharp rise in written premiums.

Agilent plunged 11% after cutting its revenue forecast for the year following a disappointing first quarter. The scientific instruments maker reported first quarter profit and revenue that fell short of Wall Street forecasts.

Alibaba climbed 1.6% after the online retailer blew past Wall Street forecasts for first quarter profit. The Hong Kong-based company also beat revenue forecasts for the quarter.

Energy futures finished mostly higher. Benchmark U.S. crude rose 0.4% to settle at $62.02 per barrel. Brent crude, the international standard, closed 0.7% higher at $71.77 per barrel.

Wholesale gasoline climbed 1.8% to $2.01 per gallon. Heating oil gained 1.3% to $2.09 per gallon. Natural gas fell 2.2% to $2.60 per 1,000 cubic feet.

Gold inched 0.1% higher to $1,297.80 per ounce, silver held steady at $14.81 per ounce and copper gained 0.7% to $2.74 per pound.

The dollar fell to 109.54 Japanese yen from 109.64 yen on Tuesday. The euro weakened to $1.1204 from $1.1207.


----------



## bigdog

Stocks closed broadly higher on Wall Street for the third straight day Thursday, led by solid gains in technology companies and banks.

The latest gains extend the market's turnaround from the start of the week, when stocks nosedived as the trade conflict between the U.S. and China escalated, stoking investors' fears about the fallout for the global economy and corporate profits.

Traders have since been encouraged by signals that Washington and Beijing are still planning to continue negotiations. And they've found relief in reports indicating that the U.S. is backing away from raising tariffs on auto imports from Europe and is making progress on lifting steel tariffs in North America.










https://www.usnews.com/news/busines...stocks-mixed-after-trump-signs-telecoms-order

*US Stock Indexes Extend Winning Streak to 3rd Day*
Stocks closed broadly higher on Wall Street for the third straight day Thursday, led by solid gains in technology companies and banks.

By Associated Press, Wire Service Content May 16, 2019, at 5:00 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks closed broadly higher on Wall Street for the third straight day Thursday, led by solid gains in technology companies and banks.

The latest gains extend the market's turnaround from the start of the week, when stocks nosedived as the trade conflict between the U.S. and China escalated, stoking investors' fears about the fallout for the global economy and corporate profits.

Traders have since been encouraged by signals that Washington and Beijing are still planning to continue negotiations. And they've found relief in reports indicating that the U.S. is backing away from raising tariffs on auto imports from Europe and is making progress on lifting steel tariffs in North America.

"While we've seen a heightened rhetoric between the U.S. administration and the Chinese, we haven't seen a significant global escalation at this point, so there's a little bit of a relief in that," said Eric Wiegand, senior portfolio manager for Private Wealth Management at U.S. Bank.

The S&P 500 index rose 25.36 points, or 0.9%, to 2,876.32. The Dow Jones Industrial Average climbed 214.66 points, or 0.8%, to 25,862.68. The index was briefly up 309 points.

The Nasdaq composite gained 75.90 points, or 1%, to 7,898.05. The Russell 2000 index of small company stocks picked up 8.97 points, or 0.6%, to 1,557.24.

Major stock indexes in Europe finished higher.

The S&P 500 is now up 2.3% from its close on Monday, when the benchmark index slumped after China issued retaliatory tariffs on U.S. goods, ratcheting up tensions between the two largest economies in the world.

The market has still not recovered all its losses since early last week, when President Donald Trump turned up the heat in the trade war by threatening to hike tariffs on $200 billion worth of Chinese imports from 10% to 25%. The S&P 500 is still down about 1.9% from its close on May 6.

The S&P 500, Dow and Nasdaq are still on track to end the week with losses, even after the three-day winning streak.

The Trump administration raised tariffs last Friday and spelled out plans to target the $300 billion worth of Chinese imports that aren't already facing 25% taxes. The escalation covers everything from sneakers to toasters to billiard balls. The Chinese have retaliated by imposing tariffs on $60 billion in U.S. imports.

The escalation in trade tensions surprised investors who had been expecting a resolution. That confidence was a key component of the stock market's sharp gains so far this year.

Stocks have been choppy the last two weeks as traders worried over the implications the escalating trade dispute could have for markets. Negotiations between the two countries are expected to resume in Beijing soon. And Trump has said that he expects to meet Xi in late June at the G-20 summit in Osaka, Japan.

The market will likely remain volatile until investors can get a better sense of how the U.S. and China will resolve their trade dispute, said Liz Ann Sonders, chief investment strategist at Charles Schwab.

"Clearly, the market is at the mercy of what we're hearing on trade," she said.

Technology stocks, health care companies and banks accounted for much of the market's broad gains Thursday.

Cisco rose the most in the S&P 500, vaulting 6.7% after the technology company beat Wall Street's fiscal third quarter earnings forecasts. The maker of gear that connects computers also issued a solid forecast for the current quarter.

Not all technology sector stocks had a good day. Chipmakers slumped a day after the Trump administration labeled Chinese telecom equipment giant Huawei a security risk and imposed export curbs on U.S. technology sales to the company. The move hurts U.S. chipmakers, which sell products to Huawei, which is the biggest global maker of switching equipment for phone companies.

"Those supply chains are being impacted," Wiegand said.

The S&P Semiconductor and Semiconductor Equipment index closed 1.6% lower. Several chipmakers also fell. Qorvo tumbled 7.1%, Micron Technology lost 2.9% and Qualcomm dropped 4%.

Banks and other financial services companies got a boost from higher bond yields, which allow them to charge higher interest rates on loans.

JPMorgan Chase rose 1.3%, American Express added 1.9% and Bank of America gained 1.1%

The yield on the 10 year Treasury rose to 2.39% from 2.38% late Wednesday.

The higher yields followed a Commerce Department report showing that U.S. home construction rose faster than expected by economists in April.

The solid report follows a series of weak economic reports on Wednesday that shoved bond yields sharply lower and weighed down the entire financial sector.

The positive home construction data also gave homebuilder stocks a lift. Taylor Morrison Home climbed 2.4% and KB Home added 2.2%.

Investors also bid up shares in Walmart, after the retail giant reported a surge in a key sales measure, driven by a growing grocery sales business. The company also said online sales rose 37%.

The world's largest retailer also beat Wall Street's profit forecasts for the first quarter. The company has been working to get more people into its stores and use its online shopping service. It recently launched next-day delivery as it faces tougher competition from other retailers and Amazon. The stock closed with a 1.4% gain.

Energy futures finished higher. Benchmark U.S. crude rose 1.4% to settle at $62.87 per barrel. Brent crude, the international standard, closed 1.2% higher at $72.62 per barrel.

Wholesale gasoline climbed 2.4% to $2.06 per gallon. Heating oil gained 1.8% to $2.12 per gallon. Natural gas added 1.5% to $2.64 per 1,000 cubic feet.

Gold fell 0.9% to $1,286.20 per ounce, silver dropped 1.8% to $14.54 per ounce and copper gained 0.2% to $2.75 per pound.

The dollar rose to 109.87 Japanese yen from 109.54 yen on Wednesday. The euro weakened to $1.1172 from $1.1204.


----------



## bigdog

Stocks fell broadly on Wall Street Friday as investor jitters over the heated trade war between the world's two biggest economies overshadowed encouraging developments in conflicts between the U.S. and other key trading partners.

The sell-off gained strength in the last hour of trading, handing the benchmark S&P 500 index its second straight weekly loss.

News that the U.S. reached a deal with Canada and Mexico to scrap tariffs imposed by the Trump administration last year on imported steel and aluminum failed to cheer up investors. Nor did word earlier in the day that President Donald Trump has delayed for six months a decision on taxing imported cars and auto parts as trade negotiations continue with the European Union and Japan.

Over the last week, the S&P 500 followed up its second worst day of the year with three straight gains, only to falter Friday.










https://www.usnews.com/news/busines...es-mixed-as-huawei-sanctions-stir-trade-fears

*Wobbly Week for US Stocks; 2nd Weekly Drop for S&P 500*
Stocks fell broadly on Wall Street Friday as investor jitters over the heated trade war between the world's two biggest economies overshadowed encouraging developments in conflicts pitting the U.S. against other key trading partners.

By Associated Press, Wire Service Content May 17, 2019, at 5:01 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

Stocks fell broadly on Wall Street Friday as investor jitters over the heated trade war between the world's two biggest economies overshadowed encouraging developments in conflicts between the U.S. and other key trading partners.

The sell-off gained strength in the last hour of trading, handing the benchmark S&P 500 index its second straight weekly loss.

News that the U.S. reached a deal with Canada and Mexico to scrap tariffs imposed by the Trump administration last year on imported steel and aluminum failed to cheer up investors. Nor did word earlier in the day that President Donald Trump has delayed for six months a decision on taxing imported cars and auto parts as trade negotiations continue with the European Union and Japan.

Those developments took a back seat to growing uncertainty over how Washington and Beijing will resolve their costly trade dispute, which has escalated the past two weeks. On Friday, published reports noted that Chinese state media was sending signals that appeared to dim the prospects for progress in the next round of negotiations.

"You had the good news in the delay in the auto tariffs, but the bad news is it's going to be a long slog with high tariffs on China," said Tom Martin, senior portfolio manager with Globalt Investments.

The S&P 500 fell 16.79 points, or 0.6%, to 2,859.53. Earlier in the day, it had been down as much as 0.8% and up as much as 0.3%. After all its tumbling around the last two weeks, the index remains 2.9% below the record it set last month.

The Dow Jones Industrial Average lost 98.68 points, or 0.4%, to 25,764. It slid 204 points earlier in the day. The Nasdaq composite dropped 81.76, or 1%, to 7,816.28. The Russell 2000 index of small company stocks gave up 21.48 points, or 1.4%, to 1,535.76.

Major European indexes closed broadly lower.

Over the last week, the S&P 500 followed up its second worst day of the year with three straight gains, only to falter Friday.

Escalating tensions between the world's largest economies have upended the calm that dominated markets earlier this year, when a trade agreement seemed to be in the works. The S&P 500 has twice dropped by at least 1.5% in the last two weeks, as many times as it had in the first four months of the year.

Market swings within the course of a single day have become common in recent weeks as investors react to developments in the United States' trade disputes with other countries, primarily China. Trump made good on a threat to raise tariffs on Chinese-made products, and China retaliated with tariffs of its own. The threats were interspersed with some signs of reconciliation.

While the Trump administration has been pressing for change in trade terms with the European Union, Japan, Canada and Mexico, the market has remained focused mainly on the conflict between the U.S. and China, which has been getting more heated.

The Trump administration has issued an executive order aimed at banning Huawei equipment from U.S. networks. Another sanction that subjects the Chinese telecommunications giant to strict export controls took effect on Thursday. China has threatened to retaliate. It remains to be seen how the move will affect trade negotiations, which are expected to continue.

"The trade issue could still get worse before it gets better, but our view remains that a deal will ultimately be reached to resolve the issue given the economic (and in Trump's case political) damage that would be caused if a deal is not reached," Shane Oliver of AMP Capital said in a commentary.

Technology and industrial stocks took some of the heaviest losses Friday. Utilities eked out a slight gain. Small company stocks fell more than the rest of the market.

Deere was the biggest decliner in the S&P 500 after the tractor maker cut its profit forecast for the year, citing slower sales from farmers worried about exports, among other factors. The stock slid 7.7%.

The U.S. crackdown on Huawei Technologies continued to weigh on chipmakers that supply the Chinese telecom company. Qorvo fell 6.1%, Skyworks Solutions dropped 4.8% and Micron Technology gave up 3.4%.

Pinterest plunged after the technology company reported a larger loss for the latest quarter than analysts expected. Shares of the digital pinboard company, which began trading last month, dropped 13.5%.

A report showing that U.S. shoppers remain more confident than economists expected helped spur a brief midmorning rally. The yield on the 10-year Treasury fell as low as 2.36% Friday morning from 2.40% late Thursday. It recovered to 2.39%.

Energy futures finished lower. Benchmark U.S. crude slipped 0.2% to settle at $62.76 per barrel. Brent crude, the international standard, closed 0.6% lower at $72.21 per barrel.

Wholesale gasoline dropped 0.7% to $2.05 per gallon. Heating oil fell 1.3% to $2.10 per gallon. Natural gas lost 0.3% to $2.63 per 1,000 cubic feet.

Gold slid 0.8% to $1,275.70 per ounce, silver dropped 1% to $14.39 per ounce and copper gave up 0.3% to $2.74 per pound.

The dollar rose to 110.11 Japanese yen from 109.87 yen on Thursday. The euro weakened to $1.1160 from $1.1172.

9195


----------



## bigdog

Chipmakers and other technology companies pulled U.S. stocks lower Monday, extending the market's losses into another week.

The U.S. decision to ban technology sales to China's Huawei hammered the tech sector, particularly chipmakers. About one-third of Huawei's suppliers are American chipmakers and investors are worried that the action against Huawei could crimp sales for companies with revenue heavily tied to China.

Apple also skidded after an analyst warned that the iPhone maker's growth prospects could dim as the U.S. and China continue to spar over trade.










https://www.usnews.com/news/busines...mixed-india-and-australia-up-on-vote-outcomes

*Stocks Fall as Huawei Ban Prompts Sell-Off in Chipmakers*
Chipmakers and other technology companies pulled U.S. stocks lower Monday, extending the market's losses into another week.
By Associated Press, Wire Service Content May 20, 2019, at 5:27 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Chipmakers and other technology companies pulled U.S. stocks lower Monday, extending the market's losses into another week.

The U.S. decision to ban technology sales to China's Huawei hammered the tech sector, particularly chipmakers. About one-third of Huawei's suppliers are American chipmakers and investors are worried that the action against Huawei could crimp sales for companies with revenue heavily tied to China.

Apple also skidded after an analyst warned that the iPhone maker's growth prospects could dim as the U.S. and China continue to spar over trade.

The Huawei ban is adding more anxiety to a market worried about further escalations in the trade war between the U.S. and China. Both sides have recently gone back and forth raising additional tariffs on each other's goods. The uncertainty has put a dent in investor confidence over how Washington and Beijing will resolve their dispute, pulling stocks lower the last two weeks.

"The news that has filtered out of the (Trump) administration is that talks have stalled," said Quincy Krosby, chief market strategist at Prudential Financial. "Nonetheless, the market has held up fairly well given the desire by the market to see a deal consummated."

The S&P 500 has fallen 3.6% so far this month, taking a bit of the shine off a stellar start to the year. The index is still up 13.3% year to date.

On Monday, the S&P 500 lost 19.30 points, or 0.7%, to 2,840.23.

The Dow Jones Industrial Average fell 84.10 points, or 0.3%, to 25,679.90. Apple was the biggest drag on the Dow.

The technology heavy Nasdaq composite slid 113.91 points, or 1.5%, to 7,702.38. The Russell 2000 index of small company stocks gave up 10.80 points, or 0.7%, to 1,524.96.

Major stock indexes in Europe closed broadly lower.

Bond prices fell. The yield on the 10-year Treasury rose to 2.42% from 2.39% late Friday.

Chipmakers led the way lower Monday as traders weighed the implications from the U.S. ban on technology sales to Huawei.

The U.S. government says that Chinese suppliers, including Huawei and its smaller rival, ZTE Corp., pose an espionage threat because they are beholden to China's ruling Communist Party.

Qualcomm, which gets about 65% of its revenue from China, slumped 6%. Broadcom, which gets nearly half of its revenue from China, also fell 6%. Intel dropped 3% and Xilinx slid 3.6%. An S&P index that measures the performance of chip and chip equipment makers fell nearly 4%.

Apple fell 3.1% after analysts at HSBC cut their price target on the stock, citing renewed risk in the company's growth prospects in China and the potential impact from tariffs. HSBC noted that Apple company could be forced to raise prices, which could hurt demand.

Other technology companies also took losses. Alphabet Inc., Google's parent company, slid 2.1% after it indicated that it would have to cut some features on Huawei smartphones. Other communications stocks also fell. Facebook dropped 1.4% and Comcast gave up 1.7%.

American Airlines had the steepest decline among major airlines after Morgan Stanley warned that it faces higher labor costs on top of higher fuel costs. The stock slid 2.5%.

Banks, utilities and energy companies eked out gains.

Traders bid up shares in T-Mobile and Sprint, betting that the telecom companies could be closer to completing their $26.5 billion merger.

The chairman of the Federal Communications Commission said Monday he plans to recommend approval of the deal. The full commission must still vote, and the Justice Department must also clear the deal.

T-Mobile climbed 3.9% and Sprint surged 18.8%.

Tesla fell 2.7% after an analyst at WedBush said there seems to be mixed signals on demand for the electric car maker's Model 3, which could make it harder for the company to turn a profit in the next couple of quarters and beyond.

In the client note Monday, Daniel Ives kept his "Neutral" rating on the stock, but lowered his price target to $230 from $275.

Tesla shares are down 50 percent since September. The company lost $702.1 million in the first quarter, among its worst quarters in two years, as sales tumbled 31%. CEO Elon Musk predicted another loss in the second quarter but said Tesla would be profitable again by the third quarter.

Companies are nearing the end of the latest earnings season. The results have not been as bad as Wall Street feared, with profit in the broad S&P 500 index contracting less than 1%. Home repair and supplies behemoth Home Depot will report its quarterly results Tuesday and retail giant Target will report results Wednesday.

Energy futures finished mixed. Benchmark U.S. crude gained 0.5% to settle at $63.10 per barrel. Brent crude, the international standard, closed 0.3% lower at $71.97 per barrel.

Wholesale gasoline dropped 1.8% to $2.01 per gallon. Heating oil fell 1% to $2.07 per gallon. Natural gas gained 1.6% to $2.67 per 1,000 cubic feet.

Gold inched 0.1% higher to $1,277.30 per ounce, silver added 0.4% to $14.45 per ounce and copper gave up 0.5% to $2.73 per pound.

The dollar fell to 109.96 Japanese yen from 110.11 yen on Friday. The euro strengthened to $1.1168 from $1.1160.


----------



## bigdog

Technology companies helped power stocks broadly higher on Wall Street Tuesday, snapping the market's two-day losing streak.

The rally followed the U.S. government's decision to temporarily ease off proposed restrictions on technology sales to Chinese companies. The news gave a boost to technology sector stocks, which took steep losses a day earlier when the Trump administration announced curbs on technology sales, aimed primarily at Chinese telecom gear maker Huawei.

About one-third of that company's suppliers are American chipmakers and the move would crimp sales for companies including Qualcomm and Broadcom. Both companies posted gains Tuesday, along with other chipmakers.










https://www.usnews.com/news/busines...ixed-after-wall-street-fall-on-huawei-anxiety

*Tech Rebound Powers US Stocks Higher, Snaps 2-Day S&P Slump*
Technology companies helped power stocks broadly higher on Wall Street Tuesday, snapping the market's two-day losing streak.
By Associated Press, Wire Service Content May 21, 2019, at 4:49 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Technology companies helped power stocks broadly higher on Wall Street Tuesday, snapping the market's two-day losing streak.

The rally followed the U.S. government's decision to temporarily ease off proposed restrictions on technology sales to Chinese companies. The news gave a boost to technology sector stocks, which took steep losses a day earlier when the Trump administration announced curbs on technology sales, aimed primarily at Chinese telecom gear maker Huawei.

About one-third of that company's suppliers are American chipmakers and the move would crimp sales for companies including Qualcomm and Broadcom. Both companies posted gains Tuesday, along with other chipmakers.

The U.S. government's decision to issue a 90-day grace period on technology sales to Huawei, ZTE and other Chinese companies also relieved worries on Wall Street about yet another escalation in the trade war between the U.S. and China.

"I'm a bit surprised that the bounce back has been as strong as it has been," said Randy Frederick, vice president of trading & derivatives at Charles Schwab. "It speaks to the fact that we're still in a bull market and, in general, the economics are still pretty solid, and the markets are happy to move up on any sort of positive news, especially if it looks constructive toward trade."

The S&P 500 index rose 24.13 points, or 0.9%, to 2,864.36. The Dow gained 197.43 points, or 0.8%, to 25,877.33.

The technology heavy Nasdaq composite climbed 83.35 points, or 1.1%, to 7,785.72, erasing a good chunk of Monday's losses. The Russell 2000 index of small companies picked up 20.28 points, or 1.3%, to 1,545.25.

Major stock indexes in Europe rose. Bond prices fell, boosting the yield on the 10-year Treasury to 2.43% from 2.41% late Monday.

Heightened tensions over trade have stuck the market in a rut for the last two weeks — the S&P 500 is down 2.8% for May, although the benchmark index still shows a gain of 14.3% for the year.

The trend is a change from the relative calm that dominated markets earlier this year, when a trade agreement seemed to be in the works. The S&P 500 has twice dropped by at least 1.5% this month, as many times as it had in the first four months of the year.

"The trade negotiation with China is pretty much the big elephant in the room and continues to be," Frederick said. "Which is why we're going to continue to see above average volatility like we've seen for the last two weeks, and it's a kind of treacherous spot for people to be in right now."

The dispute between Washington and Beijing grew more heated the last two weeks after the Trump administration made good on a threat to raise tariffs on Chinese-made products and China retaliated with tariffs of its own.

The U.S. government's restrictions on technology sales to Huawei added more anxiety for traders already worried about further escalations in the trade dispute.

But the temporary delay on the restriction of sales to Huawei announced Tuesday, as well as the government saying that the 90-day grace period could be renewed, appeared to alleviate some of those concerns.

The rally particularly benefited chipmakers, which had slumped on Monday.

Intel rose 2.1% and Texas Instruments added 2.2%. Broadcom, which gets about half of its revenue from China, gained 1%. Qualcomm, which gets more than half of its revenue from China, rose 1.5%.

Technology stocks, especially chipmakers, have already been under increased pressure because of the ongoing trade war. The latest move to restrict some technology sales could cut into key revenue sources.

Apple rebounded 1.9% after falling a day earlier. Health care, financial and industrial stocks also helped drive the market higher Tuesday. Anthem climbed 4%, Wells Fargo added 1.9% and Boeing gained 1.7%. Household goods makers lagged. Tyson Foods slid 1.5%.

Gains in consumer-oriented stocks were held back by disappointing quarterly financial results from a couple of big department store chains.

J.C. Penney slid 7% after it reported declining sales and a surprisingly wide loss. The retailer attributed part of the weak quarter to its no longer selling major appliances and furniture.

Kohl's plunged 12.3% after its results fell short of forecasts amid slumping sales. The company also cut its profit forecast for the year.

The latest corporate results nearly cap an earnings season that has been better than the severe earnings recession that Wall Street initially feared.

Energy futures finished mixed Tuesday. Benchmark U.S. crude slipped 0.2% to settle at $62.99 per barrel. Brent crude, the international standard, closed 0.3% higher at $72.18 per barrel.

Wholesale gasoline gained 0.5% to $2.02 per gallon. Heating oil rose 0.3% to $2.08 per gallon. Natural gas fell 2.2% to $2.61 per 1,000 cubic feet.

Gold slid 0.3% to $1,273.20 per ounce, silver dropped 0.2% to $14.41 per ounce and copper gave up 0.4% to $2.72 per pound.

The dollar rose to 110.63 Japanese yen from 109.96 yen on Monday. The euro weakened to $1.1158 from $1.1168.


----------



## bigdog

Stocks closed lower on Wall Street Wednesday, weighed down by a mixed batch of corporate earnings from big retailers and lingering uncertainty over the trade spat between the U.S. and China.

Lowe's and Nordstrom were among the biggest decliners in the S&P 500 after the retailers reported quarterly results that fell short of Wall Street's expectations. Target bucked the trend, surging after its latest results handily topped analysts' forecasts.

Chipmakers and other technology stocks also pulled the market lower, continuing a pattern of volatile trading as investors react to developments in the U.S. and China's trade dispute. Energy stocks also took losses, falling along with the price of crude oil. Small company stocks declined more than the rest of the market.










https://www.usnews.com/news/busines...-edge-higher-following-advance-on-wall-street

*US Stocks Fall on Mixed Earnings, Trade Tensions; Oil Slumps*
U.S. stocks closed lower Wednesday, weighed down by mixed corporate earnings from big retailers and uncertainty over the trade spat between the U.S. and China.
By Associated Press, Wire Service Content May 22, 2019, at 5:13 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks closed lower on Wall Street Wednesday, weighed down by a mixed batch of corporate earnings from big retailers and lingering uncertainty over the trade spat between the U.S. and China.

Lowe's and Nordstrom were among the biggest decliners in the S&P 500 after the retailers reported quarterly results that fell short of Wall Street's expectations. Target bucked the trend, surging after its latest results handily topped analysts' forecasts.

Chipmakers and other technology stocks also pulled the market lower, continuing a pattern of volatile trading as investors react to developments in the U.S. and China's trade dispute. Energy stocks also took losses, falling along with the price of crude oil. Small company stocks declined more than the rest of the market.

The sell-off outweighed gains by health care companies, household goods makers and other sectors, reversing some of the market's gains from a day earlier.

"There's just so much uncertainty, it's really hard for anybody to frame how it's going to play out," said Karyn Cavanaugh, senior markets strategist at Voya Investment Management.

The S&P 500 index fell 8.09 points, or 0.3%, to 2,856.27. The Dow Jones Industrial Average lost 100.72 points, or 0.4%, to 25,776.61. The Nasdaq composite slid 34.88 points, or 0.5%, to 7,750.84.

The Russell 2000 index of small company stocks gave up 13.62 points, or 0.9%, to 1,531.63.

Major stock indexes in Europe closed mixed.

Bond prices rose, dragging the yield on the 10-year Treasury to 2.38% from 2.42% late Tuesday.

Heightened tensions over trade have stuck the market in a rut for the last two weeks. The major U.S. indexes are all down more than 3% in May, although they are still holding on to gains for the year between 10% and 16%.

The turbulent stretch of trading this month has been a change from the relative calm that dominated markets earlier this year, when a trade agreement appeared in the works.

The U.S. has imposed 25% tariffs on $250 billion in Chinese imports and is planning to target another $300 billion, a move that would cover everything China ships to the U.S. China, meanwhile, has retaliated against $110 billion in U.S. products.

Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer wrapped up an 11th round of talks with Chinese counterparts earlier this month without reaching an agreement. More talks have yet to be scheduled.

The trade war continues to be a wild card hanging over the market, said Jason Pride, chief investment officer of private wealth for Glenmede. The economy is in the late stages of a decade-long expansion and investors are questioning how much longer it can continue.

"Everybody is looking over their shoulders trying to figure out when this cycle will end," he said.

Corporate earnings and federal monetary policy have ceased to be major concerns, Pride said. That leaves trade as the most closely watched and currently volatile issue.

Meanwhile, investors appeared to shrug off the minutes from the Federal Reserve's last meeting of policymakers.

The central bank released the minutes Wednesday afternoon, but the market barely budged. The minutes show some Fed officials still thought more interest rate increases might be needed to keep low unemployment from triggering unwanted inflation. Financial markets have been hoping that the Fed will start cutting rates soon to bolster growth further.

At its last meeting, the Fed kept its key policy rate unchanged in a range of 2.25% to 2.5%, where it's been since the Fed hiked rates for a fourth time last year.

Qualcomm and Apple drove the slide in technology stocks Wednesday. Qualcomm plunged 10.9% following a federal judge's ruling against the chipmaker in an antitrust case. Several other chipmakers also fell. Micron Technology fell 2.6%, Intel dropped 1% and Broadcom slid 2.2%.

Tech stocks have swung between gains and losses this week after the U.S. proposed restrictions on technology sales to Chinese companies and then granted a 90-day grace period.

Investors hammered Lowe's after the home improvement retailer slashed its outlook for the year following a weak first quarter. The company's shares tumbled 11.8%, its biggest single-day decline in more than 28 years.

The latest results come a day after rival Home Depot reported solid first quarter financial results.

Nordstrom also had a bad day, skidding 9.2% a day after the department store chain reported disappointing financial results. The company also cut its annual sales forecast.

In contrast, Target had its best day since late 2017 after a surge in online sales lifted its first quarter profit well above Wall Street forecasts. The retailer has been aggressively expanding its online shopping options, including same-day services and in-store pickups. Its shares vaulted 7.8%.

Energy stocks also fell after energy futures closed broadly lower. Halliburton lost 3.3% and Schlumberger slid 2.9%.

Energy futures finished lower Wednesday. Benchmark U.S. crude fell after the U.S. Energy Department reported a large increase in crude supplies for last week. It dropped 2.7%, settling at $61.42 per barrel.

Brent crude, the international standard, closed 1.6% lower at $70.99 per barrel.

Wholesale gasoline slid 1.4% to $1.99 per gallon. Heating oil gave up 1.5% to $2.05 per gallon. Natural gas fell 2.7% to $2.54 per 1,000 cubic feet.

Gold inched up 0.1% to $1,274.20 per ounce, silver added 0.3% to $14.45 per ounce and copper slid 1.4% to $2.69 per pound.

The dollar fell to 110.29 Japanese yen from 110.63 yen on Monday. The euro strengthened to $1.1160 from $1.1158.


----------



## investtrader

DOW potential triple top, Russell 2000 looking sick and SP500 perhaps double top. I think the market is maybe realizing the corrupt delusional orange dotard really is going to do some real damage.


----------



## bigdog

Heightened worries that the U.S. and China are headed for a long standoff in their costly trade dispute put investors in a selling mood Thursday.

Stocks ended sharply lower on Wall Street in a broad sell-off that left the benchmark S&P 500 index on track for its third straight weekly loss and had the Dow Jones Industrial Average down more than 400 points until late afternoon.

Traders sought safety in the bond market, driving bond prices higher, which pulled the yield on the 10-year Treasury to 2.31%, the lowest level in more than a year.

The stock market has been highly volatile since Washington and Beijing escalated their dispute over trade earlier this month. Now, the two sides have broken off negotiations and appear set for a long standoff. Investors are concerned that a prolonged trade war could stunt economic growth and hurt corporate profits.










https://www.usnews.com/news/busines...ares-slip-as-us-china-spat-takes-center-stage

*US Stocks Skid on Worries of Prolonged Trade Standoff*
Heightened worries that the U.S. and China are headed for a long standoff in their costly trade dispute put investors in a selling mood Thursday.
By Associated Press, Wire Service Content May 23, 2019, at 5:07 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Heightened worries that the U.S. and China are headed for a long standoff in their costly trade dispute put investors in a selling mood Thursday.

Stocks ended sharply lower on Wall Street in a broad sell-off that left the benchmark S&P 500 index on track for its third straight weekly loss and had the Dow Jones Industrial Average down more than 400 points until late afternoon.

Traders sought safety in the bond market, driving bond prices higher, which pulled the yield on the 10-year Treasury to 2.31%, the lowest level in more than a year.

The stock market has been highly volatile since Washington and Beijing escalated their dispute over trade earlier this month. Now, the two sides have broken off negotiations and appear set for a long standoff. Investors are concerned that a prolonged trade war could stunt economic growth and hurt corporate profits.

"Markets are appreciating how far apart the two sides are and how messy the grand deal would be that both sides had led us to believe was coming very quickly," said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

The S&P 500 index fell 34.03 points, or 1.2%, to 2,822.24. The index was down 2.5% before the selling eased. The Dow lost 286.14 points, or 1.1%, to 25,490.47. At its lowest, the Dow slid 448 points.

The Nasdaq composite dropped 122.56 points, or 1.6%, to 7,628.28. The Russell 200 index of small company stocks gave up 30.25 points, or 2%, to 1,501.38.

Markets in Asia and Europe also saw steep losses.

The U.S. and China concluded their 11th round of trade talks earlier this month with no agreement. Instead, the U.S. moved to increase tariffs on Chinese goods, prompting China to reciprocate. The trade dispute escalated further after the U.S. proposed restrictions on technology sales to China, though it has temporarily backed off.

China is looking for ways to retaliate and has reached out for support from Russia and its neighbors in Asia. Both the U.S. and China have made overtures about continuing trade talks, but none are scheduled. That uncertainty has many traders nervous about how and when the trade dispute will be resolved.

"Now people are realizing how weighty the issue is and how many different aspects of it are just so intractable, where it's going to be difficult for the Chinese side to give in and it's going to be hard for the U.S. not to ask for some of these changes," Samana said.

The resumption of trade hostilities this month has interrupted a market rally that saw the S&P 500 wipe out the fourth quarter's sharp decline and hit a new high. The index is down 4.2% so far in May, though it's still sporting a gain of 12.6% for the year.

Trade-sensitive technology stocks led the market slide Thursday. Many tech companies do significant business in China, and the Trump administration's proposed restrictions on technology sales to Chinese companies hit their stocks hard.

Apple fell 1.7%, while chipmakers such as Advanced Micro Devices, Broadcom and Nvidia each dropped by at least 3%. An S&P index that tracks the chip industry's performance has plunged about 15.2% so far this month amid the heightened trade tensions.

Banks also took heavy losses in the sell-off as bond yields fell sharply. Lower yields mean lower interest rates on loans, which makes lending less profitable. JPMorgan dropped 2% and Bank of America slid 2.6%.

Exxon Mobil fell 2.3% and Chevron gave up 2.2%, part of a broad slump in energy sector stocks as the price of U.S. fell sharply. Benchmark U.S. crude plunged 5.7% to settle at $57.91 a barrel. It's down 7.8% for the week. Brent crude, the international standard, closed 4.5% lower at $67.76 per barrel.

Investors sent shares in utilities and real estate companies higher. Those sectors are considered less risky, which makes them more attractive when traders are concerned about volatility and a slowdown in economic growth. Eversource Energy and SBA Communications, which owns wireless communication towers, each gained 1.5%.

Thursday wasn't all about selling on Wall Street.

Traders bid shares in L Brands 12.8% higher after the owner of the Victoria's Secret and Bath & Body Works chains blew away Wall Street's first quarter earnings forecasts.

Avon shares rose 3.2% after Brazilian cosmetics maker Natura announced that it is buying the beauty products company for $3.7 billion in stock. The deal would create the world's fourth-largest group of beauty products. Natura also currently owns retail stores like The Body Shop.

In other commodities trading Thursday, wholesale gasoline slid 3.9% to $1.91 per gallon. Heating oil lost 4.2% to $1.96 per gallon. Natural gas rose 1.4% to $2.58 per 1,000 cubic feet.

Gold climbed 0.9% to $1,285.40 per ounce, silver jumped 1.1% to $14.61 per ounce and copper added 0.1% to $2.68 per pound.

The dollar fell to 109.49 Japanese yen from 110.29 yen on Wednesday. The euro strengthened to $1.1183 from $1.1160.


----------



## bigdog

*three-day holiday weekend. U.S. stock markets will be closed Monday in observance of Memorial Day.*

Stocks on Wall Street notched modest gains Friday, erasing some of the market's steep losses from a day earlier.

The upbeat finish to a turbulent week still left the market with its third straight weekly loss.

Stocks swung between gains and losses all week as investors weighed the prospect of a prolonged trade war between the U.S. and China. Trading has been volatile since the dispute escalated earlier this month, with both sides raising tariffs on each other's goods.

Financial companies led the buying Friday as the yield on the 10-year Treasury note reversed part of a steep slide a day earlier. Rising yields boost interest rates on loans, which makes lending more profitable.










https://www.usnews.com/news/busines...reat-on-fears-china-us-trade-row-might-spread

*US Stocks Rebound, but S&P 500 Ends With 3rd Weekly Loss*
Stocks on Wall Street notched modest gains Friday, erasing some of the market's steep losses from a day earlier.
By Associated Press, Wire Service Content May 24, 2019, at 5:07 p.m

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks on Wall Street notched modest gains Friday, erasing some of the market's steep losses from a day earlier.

The upbeat finish to a turbulent week still left the market with its third straight weekly loss.

Stocks swung between gains and losses all week as investors weighed the prospect of a prolonged trade war between the U.S. and China. Trading has been volatile since the dispute escalated earlier this month, with both sides raising tariffs on each other's goods.

Financial companies led the buying Friday as the yield on the 10-year Treasury note reversed part of a steep slide a day earlier. Rising yields boost interest rates on loans, which makes lending more profitable.

The modest gains snapped a two-day losing streak for the S&P 500 as investors saw opportunity after the previous days' wave of selling.

"Today you're just seeing a rebound, really almost across the board, so that tells you yesterday everything was just being sold with no rhyme or reason," said Ben Phillips, chief investment officer at EventShares.

The S&P 500 rose 3.82 points, or 0.1%, to 2,826.06. The benchmark index ended the week with a 2.3% loss.

The Dow Jones Industrial Average gained 95.22 points, or 0.4%, to 25,585.69. The Nasdaq composite added 8.72 points, or 0.1%, to 7,637.01.

Small company stocks fared better than the rest of the market. The Russell 2000 index climbed 12.73 points, or 0.9%, to 1,514.11.

Major stock indexes in Europe finished broadly higher.

The market's modest rebound came ahead of a three-day holiday weekend. U.S. stock markets will be closed Monday in observance of Memorial Day.

The resumption of trade hostilities this month has interrupted a market rally that saw the S&P 500 recoup the fourth quarter's sharp loss and hit a new high. The index is down 4.1% so far in May, though it's still sporting a gain of 12.7% for the year.

The U.S. and China concluded their 11th round of trade talks earlier this month with no agreement. Instead, the U.S. moved to increase tariffs on Chinese goods, prompting China to reciprocate. The trade dispute escalated further after the U.S. proposed restrictions on technology sales to China, though it has temporarily backed off.

President Donald Trump said Thursday that he expects to meet with his Chinese counterpart Xi Jinping at a summit next month in Japan. Both sides have expressed a willingness to resume negotiations, while at the same time ratcheting up antagonistic rhetoric, leaving investors confused about what happens next.

Investors will likely be stuck dealing with a volatile market until the outcome in the trade dispute becomes clear. As such, investors are starting to realize that the conflict could drag on much longer than initially anticipated, said Craig Birk, chief investment officer at Personal Capital.

"The lesson learned lately is that nobody knows," Birk added.

Technology companies have borne the brunt of the market's monthlong downturn as they face the possibility of restricted sales to Chinese companies. The sector eked out a tiny gain Friday. HP rose 4.4% and Intuit climbed 6.7% after reporting solid profits and issuing a surprisingly good forecast.

Financial stocks led the gainers. Capital One Financial rose 1.7% and Bank of America finished 1.5% higher.

Health care companies also notched gains. Medtronic picked up 1.5%.

Consumer staples, which include beverage and packaged food makers, declined the most. Constellation Brands slid 3.7%.

Utilities also fell as traders shifted their money into riskier holdings. That marked a reversal from a day earlier, when investors bought up utilities, bonds and other safe-play holdings. The yield on the 10 year Treasury rose to 2.32% after slipping to 2.29% late Thursday, its lowest level in more than a year.

Shares in Tesla slumped 2.5%. A series of analyst notes have questioned demand for the troubled electric automaker's cars. Tesla stock has lost ground for seven of the last eight trading days and has surrendered almost 43 percent of its value since the start of the year.

A couple of retail stocks had big moves in opposite directions Friday.

Foot Locker tumbled 16%, erasing all its gains for the year. The shoe store reported disappointing first quarter financial results and trimmed its profit forecast.

Hibbett Sports surged 20.9% after the sporting goods retailer blew past Wall Street's profit expectations and raised its forecast for the year.

Energy futures ended broadly higher, recovering some of their steep losses from a day earlier.

Benchmark U.S. crude climbed 1.7% to settle at $58.63 a barrel. Brent crude, the international standard, closed 1.4% lower at $68.69 per barrel.

Wholesale gasoline added 1.1% to $1.93 per gallon. Heating oil gained 0.5% to $1.97 per gallon. Natural gas rose 0.8% to $2.60 per 1,000 cubic feet.

Gold fell 0.1% to $1,283.60 per ounce, silver slid 0.4% to $14.56 per ounce and copper added 0.7% to $2.70 per pound.

The dollar fell to 109.33 Japanese yen from 109.49 yen on Thursday. The euro strengthened to $1.1209 from $1.1183.

9607


----------



## bigdog

* Markets in the United States were also closed, for the Memorial Day holiday.

Britain's exchange remained closed for a bank holiday. *

Stocks rose in Europe on Monday, after a mixed day in Asia, as pro-EU forces retained a majority in the 28-nation bloc's parliament despite the rise of nationalist parties in a region-wide vote
*
Markets Closed*





*Markets Open*





https://www.usnews.com/news/busines...mixed-as-markets-await-news-on-china-us-trade

*World Stocks Rise as EU Vote Avoids Worst Case Scenarios*
Stocks mostly rose in Europe as pro-EU forces retained a majority in the 28-nation bloc's parliament despite the rise of nationalist parties in a region-wide vote.
By Associated Press, Wire Service Content May 27, 2019, at 11:55 a.m.

By ELAINE KURTENBACH, AP Business Writer

BANGKOK (AP) — Stocks rose in Europe on Monday, after a mixed day in Asia, as pro-EU forces retained a majority in the 28-nation bloc's parliament despite the rise of nationalist parties in a region-wide vote.

Germany's DAX climbed 0.5% to close at 12,071.18, while the CAC 40 in France added 0.4% to 5,336.19 and Britain's exchange remained closed for a bank holiday. Markets in the United States were also closed, for the Memorial Day holiday.

In the European election, far right and populist parties were among the biggest winners, as voters voiced concerns over immigration and security. Environmentalist parties also made strong gains, especially in Germany, at the expense of center-right and center-left groups that have dominated the EU. Despite their losses, pro-EU parties retained a majority in the European parliament, easing concerns of a worst-case scenario where nationalist parties foil policies for further EU integration.

"The deeply divided right-wingers will remain far away from wielding any significant power at the European level. They will not be able to block significant decisions," said Holger Schmieding, economist at Berenberg bank.

Corporate news also supported markets. Shares in Fiat Chrysler and Renault jumped over 10% each after the Italian-American company on Monday proposed a merger with the French rival. The deal would create the world's third-biggest automaker and save billions needed to invest in the race to make new electric and autonomous vehicles. Renault said it would study the offer and the French government, a key shareholder, sounded open to a deal.

Earlier, in Asia, Japan's Nikkei 225 index advanced 0.3% to 21,182.58 after visiting President Donald Trump said he expects a deal with Tokyo on trade after a Japanese election in July.

Trump's administration has been seeking a bilateral trade deal with Japan after withdrawing from the Pacific Rim trading block, the Trans-Pacific Partnership. The two sides are working to close gaps over trade in farm products and autos and auto parts.

"We are working on the imbalance on the trade as there has been a tremendous imbalance so that we are working on that. And I am sure that will work out over a period of the time," Trump said. He said via Twitter that he expected an agreement in August.

Hong Kong's Hang Seng dropped 0.2% to 27,288.09 and the Kospi in South Korea edged 0.1% to 2,044.21. The S&P ASX 200 in Australia edged 4.1 points lower to 6,451.90.

The Shanghai Composite index jumped 1.4% to 2,892.38 and India's Sensex added 0.8% to 39,752.63.

Share benchmarks have become more volatile as investors weigh the prospect of a prolonged trade war between the U.S. and China.

The 11th round of U.S.-China trade talks ended with no agreement. Instead, the U.S. moved to increase tariffs on Chinese goods, prompting China to reciprocate. The trade dispute escalated further after the U.S. proposed restrictions on technology sales to China.

Trump said last week that he expects to meet with his Chinese counterpart Xi Jinping at a summit next month in Japan. Both sides have expressed a willingness to resume negotiations, while at the same time ratcheting up antagonistic rhetoric, leaving investors confused about what happens next.

ENERGY: Benchmark U.S. crude rose 20 cents to $58.83 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, fell 36 cents to $68.33 per barrel.

CURRENCIES: The dollar rose to 109.53 Japanese yen from 109.31 yen on Friday. The euro edge up to $1.1193 from $1.1190.


----------



## bigdog

U.S. stocks fell broadly Tuesday as anxious investors shifted money into bonds, sending yields to their lowest level in nearly two years.

Rising bond prices, which pull yields lower, are typically a sign that traders feel jittery about long-term growth prospects and would rather put their money into safer holdings.

The yield on the benchmark 10 year Treasury fell to 2.26% Tuesday, the lowest level since September 2017. That put it below the 2.35% yield on the three-month Treasury bill.

When that kind of "inversion" in bond yields occurs, economists fear it may signal a recession within the coming year. It has happened multiple times so far this year.










https://www.usnews.com/news/busines...-in-muted-trading-after-trumps-visit-to-japan

*US Stocks, Bond Yield Slump, Signaling Market Jitters*
U.S. stocks fell broadly Tuesday as anxious investors shifted money into bonds, sending yields to their lowest level in nearly two years.
By Associated Press, Wire Service Content May 28, 2019, at 4:59 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

U.S. stocks fell broadly Tuesday as anxious investors shifted money into bonds, sending yields to their lowest level in nearly two years.

Rising bond prices, which pull yields lower, are typically a sign that traders feel jittery about long-term growth prospects and would rather put their money into safer holdings.

The yield on the benchmark 10 year Treasury fell to 2.26% Tuesday, the lowest level since September 2017. That put it below the 2.35% yield on the three-month Treasury bill.

When that kind of "inversion" in bond yields occurs, economists fear it may signal a recession within the coming year. It has happened multiple times so far this year.

Investors have been weighing a mix of encouraging and discouraging economic reports this year as they also keep an eye on unpredictable swings in the escalating trade war between the U.S. and China.

"If the bond market was saying that the economy is on OK footing then you wouldn't see yields fall like they are," said Willie Delwiche, investment strategist at Baird. "In many respects, equities are waking up to what's happening in bonds."

The S&P 500 index fell 23.67 points, or 0.8%, to 2,802.39. The index had been up 0.5% earlier in the day.

The Dow Jones Industrial Average dropped 237.92 points, or 0.9%, to 25,347.77, after rising about 131 points earlier. The Nasdaq composite dropped 29.66 points, or 0.4%, to 7,607.35. The Russell 2000 index of smaller companies gave up 10.09 points, or 0.7%, to 1,504.02.

Major stock indexes in Europe also declined.

U.S. stocks headed higher in the early going Tuesday as the market reopened after Monday's Memorial Day holiday closure. But indexes reversed course by midday and never recovered.

Trading has been choppy over the last several weeks as investors grapple with the possibility of a prolonged trade war between the U.S. and China. They escalated the dispute earlier this month by raising tariffs on each other.

The U.S. went even further and proposed a ban on technology sales to certain Chinese companies. That added even more volatility to technology stocks that are already sensitive to the ups and downs of trade negotiations.

The trade dispute has interrupted a market rally that saw the S&P 500 recoup the fourth quarter's sharp loss and hit a new high. The index is down 4.9% so far in May, though it's still up 11.8% for the year.

In a client note Tuesday, Morgan Stanley warned that the stock market faces a lot more volatility because of weak economic data and the trade war. It also cautioned that those factors are also increasing the risk that the U.S. economy could slide into a recession.

"This isn't just about the U.S. and China," said Brian Nick, chief investment strategist at Nuveen. "It's about everybody sensing there is something to brace for."

The drop in yields accelerated last week, but it has been happening gradually since late last year, when the 10 year Treasury yield peaked at 3.2%.

The slide in bond yields held back gains for banks and other financial companies. Falling yields lead to lower interest rates on loans, which makes lending less profitable. Goldman Sachs Group slid 1.8%.

Health care, consumer staples and industrial stocks also took heavy losses. UnitedHealth Group dropped 2.3%, Procter & Gamble slid 2.1% and United Rentals closed 3% lower.

Communications services stocks bucked the broader market slide. Video game publisher Activision Blizzard led the sector, climbing 2.9%.

Some stocks had a good day.

Traders bid up shares in Total System Services 4.8% higher following the announcement that the payments processor is being bought by Global Payments in a deal valued at $21.5 billion. The move is the third major acquisition in the payment technology sector this year. Global Payments shares lost 3%.

SeaWorld surged 16.6% after it announced a stock buyback and increased investment from a hedge fund.

Fiat Chrysler shares gave up an early gain, sliding 0.9% after the carmaker proposed a merger with France's Renault. A combination between the companies would create the world's third largest automaker and reshape the global industry. It would top General Motors' production and trail Volkswagen and Toyota.

First American Financial fell 6.3% because of a security lapse that exposed bank account numbers and other sensitive information. The real estate title company confirmed the lapse on Friday.

Energy futures ended mostly higher. Benchmark U.S. crude gained 0.9% to settle at $59.14 a barrel. Brent crude, the international standard, was little changed at $70.11 per barrel.

Wholesale gasoline added 1.1% to $1.96 per gallon. Heating oil rose 1.1% to $1.99 per gallon. Natural gas fell 0.6% to $2.58 per 1,000 cubic feet.

Gold fell 0.5% to $1,277.10 per ounce, silver slid 1.6% to $14.32 per ounce and copper slipped 0.1% to $2.70 per pound.

The dollar fell to 109.48 Japanese yen from 109.54 yen on Monday. The euro weakened to $1.1165 from $1.1190.


----------



## bigdog

Another round of selling gripped Wall Street on Wednesday as nervous investors fled health care, technology and other high-risk stocks in favor of the safety of bonds.

The broad sell-off, which lost some momentum in the last hour of trading, keeps the market on track for its fourth consecutive weekly loss and its first monthly drop this year.

The latest market slide comes as investors worry that the trade war between the U.S. and China will derail global economic and corporate profit growth as it drags on with no sign of a resolution.










https://www.usnews.com/news/busines...ian-stocks-retreat-as-china-us-jitters-set-in

*US Stocks Close Lower, on Track for 1st Monthly Loss of 2019*
Another round of selling gripped Wall Street on Wednesday as nervous investors fled health care, technology and other high-risk stocks in favor of the safety of bonds.
By Associated Press, Wire Service Content May 29, 2019, at 4:57 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Another round of selling gripped Wall Street on Wednesday as nervous investors fled health care, technology and other high-risk stocks in favor of the safety of bonds.

The broad sell-off, which lost some momentum in the last hour of trading, keeps the market on track for its fourth consecutive weekly loss and its first monthly drop this year.

The latest market slide comes as investors worry that the trade war between the U.S. and China will derail global economic and corporate profit growth as it drags on with no sign of a resolution.

"This is just a bit of a retrenchment with this realization that this trade issue may take longer to resolve that we previously thought," said Jeff Kravetz, regional investment director for U.S. Bank Wealth Management. "That's giving concern that there is going to be lower economic growth going forward."

The S&P 500 index fell 19.37 points, or 0.7%, to 2,783.02. The index had been down 1.3% earlier.

The Dow Jones Industrial Average lost 221.36 points, or 0.9%, to 25,126.41. It had tumbled 409 points.

The Nasdaq composite slid 60.04 points, or 0.8%, to 7,547.31. The Russell 2000 index of small companies dropped 14.07 points, or 0.9%, to 1,489.95.

Major stock indexes in Europe also fell.

With two more trading days left in May, the S&P 500 is heading for a loss of 5.5%. That would be its first monthly loss since December. The market has been heading steadily lower this month as prospects for the economy have dimmed and as traders got more worried about the lingering trade feud between Washington and Beijing.

In early May the U.S. and China concluded their 11th round of trade talks with no agreement. The U.S. then more than doubled duties on $200 billion in Chinese imports, and China responded by raising its own tariffs.

The market's monthlong slump follows a yearlong run for the S&P 500 that culminated in an all-time high on April 30. The benchmark index is still up around 11% for the year, while the technology-heavy Nasdaq composite is up more than 13%.

Investors are retrenching in an attempt to wait out the worsening trade situation between the U.S. and China as they face "tariff exhaustion", said JJ Kinahan, chief marketing strategist at TD Ameritrade.

China's recent threat to use its supply of rare earths as a weapon is a worrying escalation, he said. Rare earths are chemical elements that are crucial to many modern technologies, such as consumer electronics.

"What it shows to me is that there is a little bit of a worsening relationship here," he said. "They went pretty deep in the bag to throw out something that would hurt."

On Wednesday, traders continued to hammer technology stocks, which stand to suffer heavily in a prolonged trade war. Chipmaker Advanced Micro Devices fell 3.2%.

Health care and communications companies also bore a big share of the losses. Johnson & Johnson slid 4.2% and Google parent Alphabet dropped 1.7%.

The yield on the benchmark 10-year Treasury note held steady at 2.26%, the lowest level in nearly two years. It fell as low as 2.18% during the day.

Lower bond yields are typically a sign that traders feel uneasy about long-term growth prospects and would rather put their money into safer holdings. The yield on the 10-year Treasury note is down 1 percentage point over the last six months, sending another strong signal that investors are concerned about weakening economic growth.

The 10-year Treasury note remained below the yield on the three-month Treasury bill. When that kind of "inversion" in bond yields occurs over an extended period of time, economists fear it may signal a recession within the coming year. It has happened multiple times so far this year.

The slide in bond yields, which make loans less profitable, continued to hurt banks and other financial stocks Wednesday. American Express fell 1%.

The wave of selling also snared many big retailers.

Abercrombie & Fitch plummeted 26.5% in heavy trading and Canada Goose, which makes luxury down coats, plunged 30.9% after both companies issued weak sales forecasts. Capri Holdings, which owns Versace and Michael Kors, slid 9.8% after its own forecast also disappointed investors.

Energy futures ended mostly lower. Benchmark U.S. crude fell 0.6% to settle at $58.81 a barrel. Brent crude, the international standard, closed 0.9% lower at $69.45 per barrel.

Wholesale gasoline slid 0.6% to $1.95 per gallon. Heating oil dropped 1.3% to $1.97 per gallon. Natural gas rose 2% to $2.63 per 1,000 cubic feet.

Gold gained 0.3% to $1,281 per ounce, silver added 0.6% to $14.41 per ounce and copper fell 1.2% to $2.66 per pound.

The dollar fell to 109.46 Japanese yen from 109.48 yen on Tuesday. The euro weakened to $1.1133 from $1.1165.


----------



## bigdog

Major U.S. stock indexes capped a day of listless trading with modest gains Thursday, snapping the market's two-day losing streak.

A late flurry of buying helped lift the indexes, which had spent much of the day moving sideways after an early rally lost momentum. Even so, the market remained on track for its fourth straight weekly loss and its first monthly decline of the year.

Gains in technology, health care and consumer discretionary stocks outweighed losses in energy, financials and other sectors. Bond prices rose again, sending yields lower. Oil and gas prices fell sharply.

Stocks have been sliding in volatile trading all month as investors come to grips with the potential impact that the escalating trade war between the U.S. and China could have on corporate and economic growth. With one day left of trading in May, the S&P 500 is heading for a monthly loss of about 5.3%.











https://www.usnews.com/news/busines...-mostly-fall-on-wall-street-slide-trade-fears

*US Stocks Muster Slight Gains After Listless Day of Trading*
Major U.S. stock indexes capped a day of listless trading with modest gains Thursday, snapping the market's two-day losing streak.
By Associated Press, Wire Service Content May 30, 2019, at 4:55 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Major U.S. stock indexes capped a day of listless trading with modest gains Thursday, snapping the market's two-day losing streak.

A late flurry of buying helped lift the indexes, which had spent much of the day moving sideways after an early rally lost momentum. Even so, the market remained on track for its fourth straight weekly loss and its first monthly decline of the year.

Gains in technology, health care and consumer discretionary stocks outweighed losses in energy, financials and other sectors. Bond prices rose again, sending yields lower. Oil and gas prices fell sharply.

Stocks have been sliding in volatile trading all month as investors come to grips with the potential impact that the escalating trade war between the U.S. and China could have on corporate and economic growth. With one day left of trading in May, the S&P 500 is heading for a monthly loss of about 5.3%.

"This 5% or 6% sell-off is really just a resetting of expectations, especially with the sentiment that's been a gloomy overhang," said David Lyon, global investment specialist at J.P. Morgan Private Bank.

The S&P 500 index rose 5.84 points, or 0.2%, to 2,788.86. The Dow Jones Industrial Average gained 43.47 points, or 0.2%, to 25,169.88.

The Nasdaq composite added 20.41 points, or 0.3%, to 7,567.72. The Russell 2000 index of smaller companies fell 4.42 points, or 0.3%, to 1,485.53.

Major stock indexes in Europe rose broadly.

The U.S. stock market's slump in May follows a yearlong run for the S&P 500 that culminated in an all-time high on April 30. The benchmark index is still up 11.2% for the year, while the technology-heavy Nasdaq composite is up 14.1%.

Trade concerns could continue to hang over the market through late June. That's when U.S. and Chinese leaders will have an opportunity to meet at the next G20 summit in Japan.

"We don't expect there to be some grand bargain, but that will definitely set the tone," said Jim Smigiel, chief investment officer of non-traditional strategies at SEI.

Until then, investors will have to deal with more uncertainty over the trade war's impact on global growth, corporate profit results and monetary policy.

In early May the U.S. and China concluded their 11th round of trade talks with no agreement. The U.S. then more than doubled duties on $200 billion in Chinese imports, and China responded by raising its own tariffs.

Technology stocks, which are trailing only the energy sector in terms of losses this month, accounted for a big chunk of the market's gains Thursday. Keysight Technologies led the sector and all other S&P 500 stocks, surging 11.3% after the electronics company's first quarter profits beat analysts' forecasts. Intel rose 1.1% and Qualcomm gained 1.3%.

Health care companies, retailers and restaurant chains also notched gains. Vertex Pharmaceuticals climbed 2.2%. Home Depot gained 1.2% and McDonald's rose 1.6%. Dollar General had its biggest gain in five months after the discount retail chain reported solid quarterly results.

Energy stocks took the heaviest losses as crude oil prices fell sharply on oversupply concerns. The federal government reported that crude stocks fell just under 300,000 barrels last week. Oil trading advisory firm Ritterbusch and Associates expected a decline of 2 million barrels. Chevron slid 1.2% and Marathon Petroleum dropped 3.8%.

Banks fell as bond prices rose, sending bond yields lower. When bond yields decline they pull down interest rates, making loans less profitable. Bank of America slid 2.1% and Capital One Financial lost 1.2%.

The yield on the benchmark 10-year Treasury note fell to 2.22% from 2.23% late Wednesday. The yield has been at the lowest level in nearly two years since Tuesday. Lower bond yields are typically a sign that investors are worried about weakening economic growth.

Investors had their eye on a mixed batch of corporate earnings reports Thursday.

Dollar General rose 7.2% and Dollar Tree gained 3.1% after the discount retailers gave investors solid quarterly earnings results.

Some retailers put investors in a selling mood.

PVH, the owner of the Calvin Klein and Tommy Hilfiger brands, plunged 14.9% after cutting its full year profit forecast because of weak sales. PVH cited weak sales in the U.S. and China and put some of the blame on the ongoing trade war between the world's two biggest economies. Abercrombie & Fitch, Canada Goose and Capri Holdings, which owns Versace, all gave weak forecasts this week.

Nearly all of the companies in the S&P 500 have reported their latest round of quarterly financial results. Analysts had issued dire warnings for a severe earnings contraction early this year, but the results have been surprisingly good.

Overall, profit contracted less than a half-percentage point. That's far better than the 4% drop Wall Street expected.

A few companies have yet to report results. Ride-hailing company Uber, which went public earlier in May, reported late Thursday that it booked $1 billion in losses for its fiscal first quarter, even as its revenue jumped 20% from a year earlier.

Energy futures closed broadly lower Thursday. Benchmark U.S. crude skidded 3.8% to settle at $56.59 a barrel. Brent crude oil, the international standard, closed 3.7% lower at $66.87 per barrel.

Wholesale gasoline slid 3.4% to $1.88 per gallon. Heating oil dropped 2.7% to $1.92 per gallon. Natural gas gave up 2.9% to $2.55 per 1,000 cubic feet.

Gold gained 0.5% to $1,292.40 per ounce, silver added 0.6% to $14.49 per ounce and copper fell 0.4% to $2.65 per pound.

The dollar rose to 109.55 Japanese yen from 109.46 yen on Wednesday. The euro strengthened to $1.1135 from $1.1133.


----------



## bigdog

Wall Street is no fan of Tariff Man.

The stock market stumbled Friday to its first losing month of 2019 in May, primarily due to President Donald Trump's decision to broadly wield his tariff powers, first against China over trade and then against Mexico over immigration.

During stocks' month-long slide investors wrestled with the potential impact that the U.S.'s escalating trade war with China could have on corporate and economic growth. Friday's losses came after Trump announced plans via Twitter to impose tariffs on Mexico in a bid to compel the nation's third-biggest trading partner to crack down on migrants attempting to enter the U.S.

The move shocked investors and spurred a broad sell-off that sliced more than 350 points from the Dow Jones Industrial Average. The selling left the benchmark S&P 500 index 6.6% lower for the month, and up 9.8% for the year so far.

"Clearly the markets were blindsided and completely caught off guard," said Cliff Hodge, director of investments for Cornerstone Wealth.










https://www.usnews.com/news/busines...mixed-trade-worries-continue-on-trump-tariffs

*Stocks End Rocky Month Lower as Trump Widens Trade War*
Stocks closed out a turbulent month on Wall Street with another round of sharp losses Friday after President Trump announced plans to expand a trade war to Mexico.
By Associated Press, Wire Service Content May 31, 2019, at 5:27 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street is no fan of Tariff Man.

The stock market stumbled Friday to its first losing month of 2019 in May, primarily due to President Donald Trump's decision to broadly wield his tariff powers, first against China over trade and then against Mexico over immigration.

During stocks' month-long slide investors wrestled with the potential impact that the U.S.'s escalating trade war with China could have on corporate and economic growth. Friday's losses came after Trump announced plans via Twitter to impose tariffs on Mexico in a bid to compel the nation's third-biggest trading partner to crack down on migrants attempting to enter the U.S.

The move shocked investors and spurred a broad sell-off that sliced more than 350 points from the Dow Jones Industrial Average. The selling left the benchmark S&P 500 index 6.6% lower for the month, and up 9.8% for the year so far.

"Clearly the markets were blindsided and completely caught off guard," said Cliff Hodge, director of investments for Cornerstone Wealth.

It was only a month ago that the S&P 500 hit a record high and underlined its claim as the longest bull market for stocks on record, at more than a decade long. The market had climbed steadily through 2019 amid rising investor confidence that a deal with China was at hand and that the Federal Reserve would not tip the economy into recession by raising interest rates too aggressively.

But when the first weekend of May arrived, Trump's tweet threatening more tariffs on China upended months of calm in the market. Investors are now preparing for a much longer and messier resolution to the global trade war than they were expecting just a few weeks ago.

The trade conflicts have also clouded the global economic outlook, with many economists now forecasting U.S. growth to weaken in the coming months. That's likely to weigh on corporate profits this year.

"What you had over the last few days really is an increase in global uncertainty, and the economic data has been poor and weakening," said Tom Martin, senior portfolio manager with Globalt Investments. "With rising costs as a result of tariffs and rising uncertainty, that's definitely going to have a damper on earnings."

The S&P 500 index fell 36.80 points, or 1.3%, to 2,752.06. It's the first time the S&P 500 has dropped for four straight weeks since autumn 2014.

The Dow lost 354.84 points, or 1.4%, to 24,815.04. The Nasdaq slid 114.57 points, or 1.5%, to 7,453.15. The Russell 2000 index of smaller companies gave up 20.04 points, or 1.4%, to 1,465.49.

Major stock indexes in Europe also fell.

"You had a market that was feeling as though President Trump would want to do a deal so that the economy would not be hurt," said Martin. "And now the behavior is indicating that he will use (tariffs) to accomplish his goals and seems less concerned about the actual economic impact."

Since the end of April, investors have sought out safer investments like utilities and bonds. Technology stocks, which led gains all year, were among the month's biggest losers. The technology heavy Nasdaq shed 7.9%, while technology companies within the S&P 500 lost 8.9%.

Utilities, which have lagged the market, fell only 1.3% in May, making them among the month's best performers. Meanwhile, real estate stocks posted a 0.9% gain, the only winners this month.

The new tariffs on Mexican goods shocked investors who were already nervous about a global trade war crimping economic growth.

The new front in the trade war hit automakers particularly hard. Many of them import vehicles from Mexico. General Motors slid 4.3% Friday, while Fiat Chrysler dropped 4.8%. Ford Motor lost 2.3%.

Banks also declined as higher bond prices pushed yields lower. The yield on the 10-year Treasury note slid to 2.13% from 2.22% late Thursday.

Investors have been shifting money into bonds over concerns that economic growth will be crimped by the ongoing trade war. Lower bond yields drag down interest rates, making lending less profitable for banks. Citigroup fell 2.3% and Bank of America lost 2.1%.

Energy companies sank following another broad slide in oil prices. Occidental Petroleum fell 4.1% and Valero Energy dropped 3.4%.

Investors have been fleeing to safer holdings all month. The shift to utilities and bonds quickened earlier in May after the U.S. and China broke off negotiations. The U.S. then pushed more tariffs on Chinese goods along with a ban on technology sales. That prompted retaliatory tariffs from China and threats over other key resources.

While the U.S. economy grew at a solid 3.1% annual rate in the January-March quarter, many economists now think growth is likely to weaken in coming months. They cite a range of threats facing the U.S. economy, including escalating trade conflicts, more cautious spending by consumers and businesses, and a global economic slowdown.

On Friday, a report showed China's factory activity slowed in May as the trade war between Washington and Beijing escalated.

Economists say China may be drawing up its own list of retaliatory targets among U.S. companies. The worry is that a trade war fought on multiple fronts around the world will be a drag on corporate profits and on a U.S. economy that's been supported by a solid job market.

That worry pulled the yield on the 10-year Treasury note to its lowest level since the summer of 2017. That's left long-term Treasury yields below some short-term yields, an unusual occurrence that many investors see as a warning sign of recession.

Investors are also raising their bets that the Federal Reserve will need to cut interest rates later in 2019 to help the economy, less than a year after it had been raising rates to get them closer to normal.

"The fact that the president is willing to use tariffs as a weapon can really cause damage to business confidence," Hodge said. "You've got to be wondering, who's next?"

Energy futures closed broadly lower Friday. Benchmark U.S. crude tumbled 5.5% to settle at $53.50 a barrel. Brent crude oil, the international standard, closed 3.6% lower at $64.49 per barrel.

Wholesale gasoline slid 4.1% to $1.80 per gallon. Heating oil dropped 3.8% to $1.84 per gallon. Natural gas gave up 3.7% to $2.45 per 1,000 cubic feet.

Gold gained 1.4% to $1,311.10 per ounce, silver added 0.5% to $14.57 per ounce and copper fell 0.5% to $2.64 per pound.

The dollar fell to 108.41 Japanese yen from 109.55 yen on Thursday. The euro strengthened to $1.1171 from $1.1135.

0067


----------



## MrChow

10 year - 3 month bond spread is now inverted at -0.21.

The last 2 times this happened was in 2000 and 2007 and there was a recession the next year.


----------



## bigdog

Major U.S. stock indexes ended mostly lower Monday amid signs that the Trump administration is laying the groundwork to ratchet up scrutiny on some of the market's biggest names: Apple, Facebook, Amazon and Google.

Google's parent Alphabet lost 6.1% and Facebook sank 7.5%. Apple shed 1% on the day that the iPhone seller kicked off its annual software showcase. Amazon fell 4.6%. The four have a combined market value of nearly $3 trillion, and their losses helped tilt the S&P 500 lower on a day when there were actually more gainers than losers in the stock market.

Investors were reacting to media reports suggesting that government regulators are setting the stage for potential antitrust probes into each of the four technology giants.

The sell-off knocked the tech-heavy Nasdaq composite index into a correction, Wall Street speak for a drop of 10% or more from a peak. The Nasdaq hit its most recent all-time high early last month, before the trade dispute between the U.S. and China escalated, setting off a monthlong slide.










https://www.usnews.com/news/busines...ets-wobble-as-us-china-trade-jibes-over-trade

*US Stock Indexes End Mixed; Nasdaq Slumps on Big Tech Slide*
Major U.S. stock indexes ended mostly lower Monday amid signs that the Trump administration is laying the groundwork to ratchet up scrutiny on some of the market's biggest names: Apple, Facebook, Amazon and Google.
By Associated Press, Wire Service Content June 3, 2019, at 5:40 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Major U.S. stock indexes ended mostly lower Monday amid signs that the Trump administration is laying the groundwork to ratchet up scrutiny on some of the market's biggest names: Apple, Facebook, Amazon and Google.

Google's parent Alphabet lost 6.1% and Facebook sank 7.5%. Apple shed 1% on the day that the iPhone seller kicked off its annual software showcase. Amazon fell 4.6%. The four have a combined market value of nearly $3 trillion, and their losses helped tilt the S&P 500 lower on a day when there were actually more gainers than losers in the stock market.

Investors were reacting to media reports suggesting that government regulators are setting the stage for potential antitrust probes into each of the four technology giants.

The sell-off knocked the tech-heavy Nasdaq composite index into a correction, Wall Street speak for a drop of 10% or more from a peak. The Nasdaq hit its most recent all-time high early last month, before the trade dispute between the U.S. and China escalated, setting off a monthlong slide.

"We do have this trade uncertainty, and we now have some uncertainty with tech companies and government regulations," said Karyn Cavanaugh, senior markets strategist at Voya Investment Management. "These are the go-to big names, and if they're vulnerable, that just makes investors a little bit nervous."

The S&P 500 index fell 7.61 points, or 0.3%, to 2,744.45. The Dow Jones Industrial Average added 4.74 points, or less than 0.1%, to 24,819.78.

The Nasdaq composite lost 120.13 points, or 1.6%, to 7,333.02. It's now down 10.2% from its all-time high set May 3.

The Russell 2000 index of small companies rose 4.50 points, or 0.3%, to 1,469.98.

Major stock indexes in Europe closed broadly higher.

U.S. stock indexes briefly headed higher, with technology companies among the big gainers, in what appeared to be a budding rebound for the market after it closed out May with its first monthly decline this year.

But the slight gains evaporated as investors weighed the implications of a possible wave of heightened scrutiny on the market's biggest technology companies.

Alphabet tumbled as media reports suggested it faces an antitrust investigation by the Justice Department.

The company has faced a series of European regulatory investigations into its practices. In one instance last year, it was fined $5 billion by European regulators over contracts dealing with smartphone makers and the search engine's apps.

The speculation over the latest investigation comes on top of a tough weekend for the company when high levels of network congestion caused outages for some of its services, including YouTube and Google Cloud.

Reports also suggested the Justice Department would take the lead on any probe into Apple, while any antitrust investigations into Amazon and Facebook would come from the Federal Trade Commission. Reports say consumer groups and vendors have complained that Amazon is unfairly edging out competition as it expands its business and offerings.

Declines by the big tech companies depressed their sectors for much of the day. Microsoft dropped 3.1% and Twitter slid 5.5%. The losses outweighed gains in household goods makers, banks and elsewhere in the market.

Campbell Soup rose 2.9% and American International Group added 3.2%.

The day of indecisive trading came amid a wave of volatility in the market as investors wrestle with the uncertainty of the U.S. and its growing use of tariffs in international trade disputes.

Investors spent the bulk of May fleeing to safer holdings as a global trade war flared up. China and the U.S. have been escalating their trade dispute with more tariffs on each other's goods while also threatening to ban technology and resource sales. The U.S. expanded its trade war and threatened to impose tariffs on Mexican goods starting June 10 because of an immigration dispute.

All of these moves have rattled investors' confidence in prospects for global economic growth. Bank of America Merrill Lynch lowered its earnings estimates for companies in the S&P 500, citing trade tensions. Analysts have also warned that uncertainty over trade deals will crimp business confidence and keep companies from investing internationally.

"Things are likely to get worse before they get better," said a Bank of America Merrill Lynch report.

The investment bank is recommending more caution from investors as trade disputes play out. Investors have already been heading to less-risky holdings, including utility stocks and bonds, since the trade dispute with China sharply escalated in May.

Companies in the S&P 500 performed better than expected in the first quarter, posting less than a half-percentage point contraction in profit, according to Factset. But, the trade war continues hanging over the current quarter, with analysts expecting a 2% contraction in corporate profit.

Bond prices climbed again Monday, pulling the yield on the 10-year Treasury note down to 2.07% from 2.14% late Friday.

News of deals, confirmed and denied, drove movement for several stocks.

Cypress Semiconductor surged 23.8% on the announcement that German chipmaker Infineon is buying the company for more than $10 billion in cash. Cypress Semiconductors specializes in wireless and USB technology and Infineon said the deal with create the eighth biggest chipmaker in the world and a leading supplier of chips to the automotive sector.

Centene slid 10.3% after Humana declined to make a buyout proposal. Both insurance companies focus heavily on government-sponsored plans, including Medicare and Medicaid. Humana made clear that it is not seeking Centene in a rare filing aimed at quashing investor speculation. Humana shares rose 2.2%.

El Paso Electric jumped 13.5% after getting a $2.78 billion buyout offer from a private equity fund affiliated with J.P. Morgan.

Energy futures closed broadly lower Monday. Benchmark U.S. crude slid 0.5% to settle at $53.25 a barrel. Brent crude oil, the international standard, closed 1.1% lower at $61.28 per barrel.

Wholesale gasoline fell 1.7% to $1.74 per gallon. Heating oil dropped 1.8% to $1.81 per gallon. Natural gas gave up 2.1% to $2.40 per 1,000 cubic feet.

Gold gained 1.3% to $1,327.90 per ounce, silver added 1.2% to $14.74 per ounce and copper fell 0.4% to $2.65 per pound.

The dollar fell to 108.02 Japanese yen from 108.41 yen on Friday. The euro strengthened to $1.1257 from $1.1171.


----------



## bigdog

The Dow Jones Industrial Average jumped more than 500 points Tuesday as investors welcomed signs that the Federal Reserve may cut interest rates to help buttress U.S. economic growth in the face of escalating trade wars.

Optimism about a resolution to one of those trade disputes and a rebound in technology shares also boosted the market. The benchmark S&P 500 index notched its best day since early January.

Federal Reserve Chairman Jerome Powell spurred the rally when he said the central bank was "closely monitoring" trade developments and would "act as appropriate" to sustain the U.S. economic expansion. Investors read his remarks as a signal that the Fed will likely cut interest rates later this year.

Investors have been worried the expanding conflicts between the U.S. and some of its biggest trading partners could slow U.S. economic growth and stymie corporate profits. They've been dumping stocks for the past month and fleeing to safer holdings such as bonds.










https://www.usnews.com/news/busines...es-skid-after-technology-sell-off-hits-nasdaq

*Dow Jumps Over 500 Points Amid Hopes of Fed Rate Cut*
The Dow jumped more than 500 points Tuesday as investors welcomed signs the Fed may cut interest rates to help buttress U.S. economic growth in the face of escalating trade wars.
By Associated Press, Wire Service Content June 4, 2019, at 5:14 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

The Dow Jones Industrial Average jumped more than 500 points Tuesday as investors welcomed signs that the Federal Reserve may cut interest rates to help buttress U.S. economic growth in the face of escalating trade wars.

Optimism about a resolution to one of those trade disputes and a rebound in technology shares also boosted the market. The benchmark S&P 500 index notched its best day since early January.

Federal Reserve Chairman Jerome Powell spurred the rally when he said the central bank was "closely monitoring" trade developments and would "act as appropriate" to sustain the U.S. economic expansion. Investors read his remarks as a signal that the Fed will likely cut interest rates later this year.

Investors have been worried the expanding conflicts between the U.S. and some of its biggest trading partners could slow U.S. economic growth and stymie corporate profits. They've been dumping stocks for the past month and fleeing to safer holdings such as bonds.

"The concern in the market is that economic data is going to worsen," said Jeff Zipper, managing director at U.S. Bank Wealth Management. "If economic data worsens, then growth slows down. So obviously a rate cut would provide liquidity into the economy and the marketplace, and that's what investors are looking at right now."

The Nasdaq composite rode the rally in technology stocks to a gain of 194.10 points, or 2.7%, to 7,527.12. The index recouped the losses it racked up a day earlier, when tech stocks slumped over concerns that several big internet companies could face more scrutiny from antitrust regulators.

The S&P 500 index gained 58.82 points, or 2.1%, to 2,803.27, its best performance since Jan. 4. The Dow vaulted 512.40 points, or 2.1%, to 25,332.18.

The Russell 2000 index of small companies picked up 38.58 points, or 2.6%, to 1,508.56.

Major stock indexes in Europe also closed broadly higher.

Speaking at a Fed conference in Chicago, Powell said: "We are closely monitoring the implications of these developments for the U.S. economic outlook and, as always, we will act as appropriate to sustain the expansion."

Powell didn't explicitly say what the Fed would do. But his remarks fueled expectations that the central bank will cut rates at least once and possibly two or more times before year's end, in part because of the consequences of the trade war.

There is concern that the U.S. economic expansion, which next month will become the longest on record, could face growing risks of a recession as retaliatory tariffs weaken U.S. exports.

Investors in the futures market are now pricing in a 59 percent chance of a Fed rate cut by July.

"The market does not like uncertainty, so if we get more certainty as far what the Fed is going to do and what they're saying, that bodes well for the market," Zipper said.

The market's robust early gains this year were partly fueled by the Fed's move to take a more patient approach to its rates policy after steadily raising rates for two years. Investors have been hoping it will go further and cut interest rates to give economic growth another push.

Fresh hopes for a resolution in the U.S.-Mexico trade dispute also helped put investors in a buying mood.

Mexican Foreign Minister Marcelo Ebrard said that Mexico can likely reach a deal with the U.S. at a meeting Wednesday. That would stave off President Donald Trump's threat to place 5% tariffs on Mexican goods beginning June 10 as part of a broader immigration dispute.

The threat of a trade battle with Mexico has worried investors already nervous about the ongoing trade war between Washington and Beijing.

Automakers rallied as traders bet that the U.S. and Mexico will work out their trade issues. Many automakers import vehicles from Mexico and would be hit particularly hard if the U.S. imposes tariffs. Ford Motor climbed 3.2%, General Motors gained 6% and Fiat Chrysler added 4%.

Chipmakers were among the biggest gainers in the technology sector. Nvidia jumped 6.9% and Advanced Micro Devices climbed 7.2%. Other technology companies rallied. Microsoft rose 2.8% and Apple added 3.7%.

Facebook rose 2% after a shaky start. A top European Union legal adviser said that social media networks could be ordered to take down any text, photo or other media ruled to be defamatory by a court, anywhere in the world.

Banks also posted solid gains as bond prices fell, driving yields on the 10-year Treasury note to 2.12% from 2.08% late Monday. Banks benefit from higher yields because they can charge more interest on loans. Bank of America rose 4.6% and Citigroup gained 5.2%.

Traders bid up shares in Tiffany & Co. after the luxury jeweler beat Wall Street's profit forecasts for the first quarter. Investors focused on the solid profit figures amid a very mixed report. Tiffany gained 2.6%.

Energy futures closed mostly higher Tuesday. Benchmark U.S. crude gained 0.4% to settle at $53.48 a barrel. Brent crude oil, the international standard, closed 1.1% higher at $61.97 per barrel.

Wholesale gasoline fell 1% to $1.72 per gallon. Heating oil added 0.8% to $1.82 per gallon. Natural gas rose 0.5% to $2.42 per 1,000 cubic feet.

Gold inched 0.1% higher to $1,328.70 per ounce, silver added 0.2% to $14.77 per ounce and copper rose 0.7% to $2.67 per pound.

The dollar rose to 108.07 Japanese yen from 108.02 yen on Monday. The euro strengthened to $1.1258 from $1.1257.


----------



## bigdog

Stocks closed higher on Wall Street for the second straight day Wednesday, extending Tuesday's strong gains as investors bet an interest rate cut could be ahead.

Technology, industrial and health care companies accounted for much of the broad gains, which were tempered by a slide in energy stocks following a 3.4% plunge in the price of U.S. crude oil.

Traders shrugged off a report showing private U.S. companies added the fewest jobs in nine years last month. The bleak jobs snapshot may have been welcomed by investors hoping that it could help persuade the Federal Reserve to cut interest rates.










https://www.usnews.com/news/busines...ian-shares-jump-on-us-feds-rate-cut-bandwagon

*Tech Companies Lead US Stocks Broadly Higher; Oil Slumps*
Stocks closed higher on Wall Street for the second straight day Wednesday, extending the market's strong gains from the previous day.
By Associated Press, Wire Service Content June 5, 2019, at 4:53 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks closed higher on Wall Street for the second straight day Wednesday, extending Tuesday's strong gains as investors bet an interest rate cut could be ahead.

Technology, industrial and health care companies accounted for much of the broad gains, which were tempered by a slide in energy stocks following a 3.4% plunge in the price of U.S. crude oil.

Traders shrugged off a report showing private U.S. companies added the fewest jobs in nine years last month. The bleak jobs snapshot may have been welcomed by investors hoping that it could help persuade the Federal Reserve to cut interest rates.

"It could help underpin a Fed rate cut," said Quincy Krosby, chief market strategist at Prudential Financial. "The market has been in essence calling for a rate cut for a number of months as the economic data have waned and tariff issues have intensified."

The S&P 500 index gained 22.8 points, or 0.8%, to 2,826.15. The benchmark index's 2.1% gain Tuesday was its best performance since January.

The Dow Jones Industrial Average climbed 207.39 points, or 0.8%, to 25,539.57. The Nasdaq composite rose 48.36 points, or 0.6%, to 7,575.48. The Russell 2000 index of smaller companies slipped 1.77 points, or 0.1%, to 1,506.79.

Major stock indexes in Europe closed broadly higher.

Bond prices rose, pulling down yields on the 10-year Treasury note to 2.12% from 2.13% late Tuesday.

Federal Reserve Chairman Jerome Powell said Tuesday that the central bank was "closely monitoring" developments in the United States' multiple trade conflicts and would "act as appropriate" to sustain the nation's economic expansion.

Investors now expect the central bank to cut rates at least once and possibly twice before year's end, in part because of fallout from the trade war.

Stocks slumped in May as investors grew anxious over the trade disputes. An escalating trade war between the U.S. and China and the added threat of a new trade war with Mexico sent investors fleeing to safer holdings, like bonds.

The U.S. and Mexico were holding trade talks in Washington late Wednesday afternoon. A 5% tariff on imports from Mexico, which could affect U.S. companies making everything from cars to beer and tacos, is due to go into effect on Monday, barring an agreement between the two countries. The Trump administration is demanding that Mexico step up efforts to halt Central American migrants from making their way to the U.S.

Oil prices slumped following a report showing an unexpected surge in U.S. crude supplies.

Benchmark U.S. crude settled at $51.68 a barrel. Brent crude oil, the international standard, closed 2.2% lower at $60.63 a barrel.

U.S. crude has fallen in five of the past six weeks amid signs that China's economic growth is slowing. It's now 22.1% below its 2019 closing high of $66.30 in April. The slide puts U.S. crude in what Wall Street calls a bear market.

"Oil is lagging and it has to do with the perception that demand is down," Krosby said. "Couple that with supply growing and the equation is not positive for the price of oil."

Occidental Petroleum dropped 4.6% and Halliburton slid 3.5%.

Technology companies were among the most notable gainers Wednesday. Apple rose 1.6% and Microsoft added 2.2%. Salesforce climbed 5.1% after blowing away profit forecasts.

Traders also snapped up health care stocks. Boston Scientific gained 2.5% and Medtronic rose 2.3%.

Industrial stocks rose broadly, with notable gains by airlines as fuel costs fell. American Airlines Group gained 4.3% and Southwest Airlines rose 2.6%.

A trickle of corporate earnings reports moved several stocks.

Campbell Soup jumped 10% after the iconic 146-year-old company swung to a fiscal third quarter profit and beat Wall Street forecasts. The maker of Pepperidge Farm cookies and V8 juice also beat revenue forecasts for the quarter and said sales growth was fueled by its snacks business.

GameStop plummeted 35.5% after the video game maker badly missed sales estimates in the first quarter and eliminated its quarterly dividend. The company is in the midst of a cost-cutting program and coming off of a management shake up. The stock is now down 60.1% for the year.

Pivotal Software nosedived 41.3% after the cloud-computing company slashed its revenue forecast for the year.

In other energy futures trading, wholesale gasoline fell 1.8% to $1.69 per gallon. Heating oil dropped 2.3% to $1.78 per gallon. Natural gas slid 1.6% to $2.38 per 1,000 cubic feet.

Gold inched 0.4% higher to $1,333.60 per ounce, silver added 0.1% to $14.79 per ounce and copper fell 1.7% to $2.62 per pound.

The dollar rose to 108.42 Japanese yen from 108.07 yen on Tuesday. The euro weakened to $1.1228 from $1.1258.


----------



## bigdog

U.S. stocks finished higher Thursday as optimism that the U.S. and Mexico can work out a deal before costly tariffs kick in next week helped power the market to its third straight gain.

A modest rally gained strength in the final hour of trading after Bloomberg reported that the U.S. was considering delaying a 5% tariff on Mexican goods that is set to go into effect on Monday.

The report came as the two countries held a second day of trade talks. Both sides claimed to be making progress, but President Donald Trump insisted earlier in the day that a "lot of progress" had to be made before he would call off the tariffs.










https://www.usnews.com/news/busines...ll-as-trump-says-mexican-tariffs-still-coming

*US Stocks Climb on Hope of US-Mexico Trade Deal*
U.S. stocks finished higher Thursday as optimism that the U.S. and Mexico can work out a deal before costly tariffs kick in next week helped power the market to its third straight gain.
By Associated Press, Wire Service Content June 6, 2019, at 5:28 p.m

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

U.S. stocks finished higher Thursday as optimism that the U.S. and Mexico can work out a deal before costly tariffs kick in next week helped power the market to its third straight gain.

A modest rally gained strength in the final hour of trading after Bloomberg reported that the U.S. was considering delaying a 5% tariff on Mexican goods that is set to go into effect on Monday.

The report came as the two countries held a second day of trade talks. Both sides claimed to be making progress, but President Donald Trump insisted earlier in the day that a "lot of progress" had to be made before he would call off the tariffs.

Investors have been anxious about escalating trade disputes between the U.S. and key trading partners, primarily China. Worries that the trade conflicts will drag on, stifling economic growth and hurting corporate profits, drove a monthlong sell-off in May. That derailed a market run that culminated with the benchmark S&P 500 setting an all-time high on April 30.

Stocks gave up more ground on Monday, but the market has bounced back and is on track to end the first week of June with solid gains.

"History says, as a result of such a good start to the year, don't be surprised that May is down, because it has been 60% of the time," said Sam Stovall, chief investment strategist at CFRA. "Yet, after a down May, we tend to get a reflex rally in June 100% of the time."

The S&P 500 index gained 17.34 points, or 0.6%, to 2,843.49. The Dow Jones Industrial Average rose 181.09 points, or 0.7%, to 25,720.66. It briefly climbed 260 points.

The Nasdaq composite reversed an early slide, adding 40.08 points, or 0.5%, to 7,615.55. The Russell 2000 index of smaller companies dropped 3.25 points, or 0.2%, to 1,503.54.

Stock indexes in Europe finished mixed.

Bond prices fell, pushing up the yield on the 10-year Treasury note to 2.13% from 2.12% late Wednesday.

U.S. and Mexican officials continued trade talks on Thursday in a bid to avert import tariffs that President Trump has threatened to impose unless Mexico acts to stem the flood of Central American migrants at America's southern border.

Lawmakers who have been in talks with both U.S. and Mexican officials said they were hopeful a deal could be reached to satisfy Trump, or at least delay the tariffs.

The trade dispute with Mexico and China threatens to stifle economic growth in the U.S. and globally. Uncertainty surrounding the trade negotiations has sent many traders fleeing to safer investments, like bonds and gold.

Still, investors have been in a buying mood most of this week because they're betting the Federal Reserve will cut interest rates this year. Fed Chairman Jerome Powell said Tuesday that the central bank would "act as appropriate" if the Trump administration's disputes with China and Mexico threatened U.S. economic expansion.

The government's May jobs report, due out Friday, could prove a key factor in what the Fed does next. A separate gauge of employment growth by ADP earlier this week showed a sharp slowdown in hiring last month. And economists surveyed by FactSet are projecting that the government will also report that hiring slowed last month.

"Investors would prefer a lighter side report for employment Friday because it would help keep the pressure off the Fed from certainly raising rates, but would give it an additional reason to lower rates," Stovall said.

Technology, consumer staples and financial stocks were among the big gainers Thursday. Chipmaker Advanced Micro Devices jumped 7.9%, Campbell Soup added 2.6% and American Express gained 1.1%.

Energy stocks recouped some ground following a broad sell-off a day earlier as crude oil prices rose. Occidental Petroleum rose 3.4% and Chevron added 2.6%.

A smattering of company earnings results brought on either severe punishment or lavish rewards from investors.

Arts and crafts retailer Michaels plunged 12.4% after sales at established stores fell more sharply than Wall Street had forecast. The company also trimmed its full year profit forecast.

Stitch Fix shares surged 14.7% after the online clothing styling service surprised investors with a fiscal third quarter profit.

Ciena shares jumped 26.8% after the developer of high-speed networking technology beat Wall Street's fiscal second quarter financial forecasts.

Oil prices rebounded after a steep sell-off a day earlier.

Benchmark U.S. crude gained 1.8% to settle at $52.90 a barrel. Brent crude oil, the international standard, closed 1.7% higher at $61.67 a barrel.

U.S. crude has fallen in five of the past six weeks amid signs that China's economic growth is slowing. Despite Thursday's increase, it remains 20.7% below its 2019 closing high of $66.30 in April. The slide puts U.S. crude in what Wall Street calls a bear market.

In other energy futures trading, wholesale gasoline rose 0.9% to $1.71 per gallon. Heating oil added 0.5% to $1.79 per gallon. Natural gas slid 2.3% to $2.32 per 1,000 cubic feet.

Gold rose 0.7% higher to $1,342.70 per ounce, silver added 0.8% to $14.91 per ounce and copper gained 1% to $2.65 per pound.

The dollar rose to 108.44 Japanese yen from 108.42 yen on Wednesday. The euro strengthened to $1.1273 from $1.1228.


----------



## bigdog

Wall Street turned the page on a painful May in the stock market by notching its best week since late November.

Stocks climbed for a fourth consecutive day Friday, capping a week of gains that reversed most of the losses in May, when President Donald Trump's tariff threats escalated trade wars with China and Mexico.

The latest rally came as investors welcomed a report showing that the U.S. added fewer jobs than expected last month. The lackluster snapshot of hiring appeared to increase the odds that the Federal Reserve will have to cut interest rates in coming months.

Stocks surged earlier this week when Federal Reserve Chairman Jay Powell said that the central bank would "act as appropriate" if the trade disputes threatened U.S. economic expansion.










https://www.usnews.com/news/busines...rail-us-rise-on-us-mexico-trade-deal-optimism

*US Stock Market Notches Best Week Since Late November*
Wall Street turned the page on a painful May in the stock market by notching its best week since late November.
By Associated Press, Wire Service Content June 7, 2019, at 4:54 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street turned the page on a painful May in the stock market by notching its best week since late November.

Stocks climbed for a fourth consecutive day Friday, capping a week of gains that reversed most of the losses in May, when President Donald Trump's tariff threats escalated trade wars with China and Mexico.

The latest rally came as investors welcomed a report showing that the U.S. added fewer jobs than expected last month. The lackluster snapshot of hiring appeared to increase the odds that the Federal Reserve will have to cut interest rates in coming months.

Stocks surged earlier this week when Federal Reserve Chairman Jay Powell said that the central bank would "act as appropriate" if the trade disputes threatened U.S. economic expansion.

The lackluster jobs report could signal growing caution by businesses as economic growth slows and the U.S. engages in multiple trade conflicts.

"It's a strange market right now," said Gene Goldman, chief investment officer and director of research at Cetera Financial Group. "The markets are taking bad news as good news as reason to rally."

The S&P 500 index rose 29.85 points, or 1.1%, to 2,873.34. The benchmark index notched its first weekly gain in five weeks and its best weekly gain since the week of November 26.

The Dow Jones Industrial Average gained 263.28 points, or 1%, to 25,983.94. It had briefly been up 352 points.

The Nasdaq composite climbed 126.55 points, or 1.7%, to 7,742.10. The Russell 2000 index of smaller companies picked up 10.85 points, or 0.7%, to 1,514.39.

Major stock indexes in Europe also finished higher.

Bond prices rose, pushing yields lower, a sign that the market is worried about slower economic growth. The yield on the 10-year Treasury fell to 2.08% from 2.12% on Thursday. That hurt banks, which rely on higher yields for profit from loan interest. Citigroup slid 1.2%.

Most other sectors climbed Friday. Technology stocks led the gainers. Microsoft rose 2.8% and Apple added 2.7%. Health care companies and internet stocks were also among the largest gainers. Johnson & Johnson rose 1.4%, Facebook climbed 3% and Twitter added 3.7%.

Retailers notched solid gains, led by Foot Locker, which climbed 3.3%. Ross Stores closed 3.1% higher.

Analysts are more confident that the Fed is closer to cutting rates as it gauges the latest weak employment data and downward revisions for previously reported data. The Labor Department said U.S. employers added just 75,000 jobs last month, and also said hiring in March and April was not quite as robust as originally reported.

"The stock markets are banking on the Fed's ability to step in and save the day, as it has for much of the last decade," said Cliff Hodge, director of investments for Cornerstone Wealth.

The next rate cut could come as early as July, he said, as the slide in bond yields signals that investors are preparing for slower economic growth.

While investors welcome the idea of a rate cut, such a move would suggest that the central bank is worried about the economy, which would not be good for the labor market, said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

"We would view that as a sugar high as opposed to what the market really needs in order to make meaningful new highs driven by fundamentals," Samana said. "Especially today with the market now back close to 2,900, our 2 cents for investors would be that the risk outweighs the reward."

Investors were also optimistic about prospects for a U.S.-Mexico trade deal. The U.S. is poised to start imposing 5% tariffs on Mexican goods Monday but both sides are negotiating and media reports have suggested that the U.S. could consider delaying the tariffs.

Even with this week's gains, several sectors have a ways to go before they make up the losses they suffered last month as the trade disputes escalated.

The technology heavy Nasdaq is still down 5.2% from its record on May 3. Facebook and Google parent Alphabet dragged down the internet-heavy communications sector over the past month. It's down 7.5% from its April 29 high, the worst drop of any S&P sector. Consumer-focused stocks are down 4.6%, with a large portion of companies depending on China for significant revenue.

Meanwhile, investors have bought bonds, signaling their expectation that the Fed would cut rates. The yield on the 10-year Treasury is now 2.08%, down from a close of 2.48% on April 7. Yields move inversely to bond prices.

On Friday, traders showed a hearty appetite for Beyond Meat, driving its shares 39.3% higher, after the plant-based meat maker beat Wall Street's first quarter financial forecasts. The company also gave investors a solid revenue forecast for the year. At around $138, Beyond Meat's stock price is now more than five times higher than the $25 offering price of its May 2 initial public offering.

Barnes & Noble rose 11.1% after the last of the big book retailers announced its sale to a hedge fund for $476 million. Elliott Management is expected to complete the buyout in the third quarter. The chain was blamed for the demise of independent bookstores and was ultimately laid low by the shift to online sales and Amazon's rise.

Energy futures finished higher Friday. Benchmark U.S. crude gained 2.7% to settle at $53.99 a barrel. Brent crude oil, the international standard, closed 2.6% higher at $63.29 a barrel.

Wholesale gasoline rose 1.8% to $1.74 per gallon. Heating oil climbed 2% to $1.82 per gallon. Natural gas added 0.6% to $2.34 per 1,000 cubic feet.

Gold rose 0.3% to $1,346.10 per ounce, silver added 0.8% to $15.03 per ounce and copper slid 0.9% to $2.63 per pound.

The dollar fell to 108.15 Japanese yen from 108.44 yen on Thursday. The euro strengthened to $1.1338 from $1.1273.

0431


----------



## bigdog

Australian ASX closed for Queens Birthday Monday June 10

Technology companies and banks helped power stocks higher on Wall Street Monday as investors welcomed news that the U.S. and Mexico averted a trade war and potentially damaging tariffs.

The latest gains extend the market's winning streak to a fifth day. That follows the strongest week for stocks since November in what has been a marked turnaround for the market after escalating trade tensions fueled a turbulent skid in May.

Some of those trade jitters eased a bit Monday, at least in regard to the trade spat between the U.S. and Mexico. President Donald Trump suspended plans to impose tariffs on Mexican goods after the countries struck a deal on immigration. The dispute threatened to raise costs for American companies and consumers and expand a global trade war that already includes China.










https://www.usnews.com/news/busines...rise-as-chinese-trade-data-beats-expectations

*US Stocks Climb After US Suspends Tariffs on Mexican Goods*
Technology companies and banks helped power stocks higher on Wall Street Monday as investors welcomed news that the U.S. and Mexico averted a trade war and potentially damaging tariffs.
By Associated Press, Wire Service Content June 10, 2019, at 5:05 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Technology companies and banks helped power stocks higher on Wall Street Monday as investors welcomed news that the U.S. and Mexico averted a trade war and potentially damaging tariffs.

The latest gains extend the market's winning streak to a fifth day. That follows the strongest week for stocks since November in what has been a marked turnaround for the market after escalating trade tensions fueled a turbulent skid in May.

Some of those trade jitters eased a bit Monday, at least in regard to the trade spat between the U.S. and Mexico. President Donald Trump suspended plans to impose tariffs on Mexican goods after the countries struck a deal on immigration. The dispute threatened to raise costs for American companies and consumers and expand a global trade war that already includes China.

During an interview with CNBC, Trump said Monday that he expects to meet with Chinese President Xi Jinping at the Group of 20 summit in Japan later this month. That may have given investors some cause for optimism in the dispute between Washington and Beijing, though Trump noted that an additional wave of U.S. tariffs on Chinese goods will go into effect if the Xi refuses to meet at the summit.

"Relief in trade tensions, in terms of Mexico, and hope for relief in trade tensions with China seem to be helping the market today," said Willie Delwiche, investment strategist at Baird.

The S&P 500 index gained 13.39 points, or 0.5%, to 2,886.73. The benchmark index rose 4.4% last week, its best weekly performance of 2019. It's now about 2% below its record set on April 30.

The Dow Jones Industrial Average rose 78.74 points, or 0.3%, to 26,062.68. The Nasdaq composite climbed 81.07 points, or 1.1%, to 7,823.17. The Russel 2000 index of smaller companies gained 9.17 points, or 0.6%, to 1,523.56.

Stock indexes in Europe finished broadly higher.

The latest gains build on the market's momentum from last week, when a lackluster U.S. jobs report appeared to increase the odds that the Federal Reserve will have to cut interest rates in coming months. Last week, Federal Reserve Chairman Jay Powell held out the possibility that the central bank will soon cut rates to protect the economic recovery from any damage resulting from the Trump administration's multiple trade disputes. Many analysts think the Fed will cut rates more than once before year's end, perhaps beginning in July.

"We have essentially, over five trading days, undone the preceding 19 days' worth of weakness," Delwiche noted.

Other market indicators still signal that investors are worried about the potential for an economic slowdown, however.

The yield on the 10-year Treasury note remains sharply lower from where it was at the beginning of May, before the Trump administration's tariff threats escalated trade conflicts with China and Mexico. That spooked investors, triggering a monthlong sell-off that derailed the market's strong start to the year.

"If you look beyond the S&P 500, it's not nearly as rosy a picture," Delwiche said. "You don't want to make too much of what we've seen over the past week. It's been encouraging, but it's by no means an all-clear, everything-is-OK signal."

On Monday, news of the deal between the U.S. and Mexico helped lift shares in automakers and consumer-related companies that would suffer from new tariffs on goods from Mexico. Ford rose 0.6% and General Motors gained 1.5%. Constellation Brands, which makes Corona beer, rose 1.9%.

Technology companies accounted for much of the market rally. Apple rose 1.3%. Chipmakers made some of the biggest moves, with Nvidia adding 2% and Qualcomm rising 2.7%.

Banks were also among the biggest gainers as lower bond prices pushed yields higher. The yield on the 10-year Treasury note rose to 2.14% from 2.08% late Friday. Higher yields raise banks' profits from loan interest. Bank Of America gained 2% and Citigroup rose 2.2%.

Consumer-related and internet stocks also gained ground as investors shifted into high-growth holdings and away from utilities and other safe-play sectors. Amazon climbed 3.1% and Facebook added 0.8%.

Utilities, real estate and consumer staples lagged other sectors.

Traders also cheered a couple of multibillion-dollar deals, including a merger of Raytheon and United Technologies that would create one of the world's largest defense contractors.

Raytheon is known for its missiles, including the Patriot system. United Technologies is a maker of aircraft engines, among other industrial products.

The combined company will have sales of about $74 billion, pushing it ahead of competitors including Lockheed Martin and Northrop Grumman. Raytheon shares rose 0.7%, while United Technologies dropped 3.1%.

Investors bid up shares in Tableau 33.7% after customer-management software developer Salesforce said it would buy the company in an all-stock deal valued at $15.7 billion. Salesforce fell 5.3%.

The deal comes a few days after Google said it is purchasing data analytics firm Looker for $2.6 billion in order to expand its Google Cloud business.

Energy futures finished mostly lower Monday. Benchmark U.S. crude slid 1.4% to settle at $53.26 a barrel. Brent crude oil, the international standard, closed 1.6% lower at $62.29 a barrel.

Wholesale gasoline fell 0.5% to $1.73 per gallon. Heating oil dropped 1% to $1.81 per gallon. Natural gas added 0.9% to $2.36 per 1,000 cubic feet.

Gold fell 1.2% to $1,329.30 per ounce, silver lost 2.6% to $14.64 per ounce and copper gained 1.3% to $2.66 per pound.

The dollar rose to 108.44 Japanese yen from 108.15 yen on Friday. The euro weakened to $1.1315 from $1.1338.


----------



## bigdog

U.S. stocks fell Tuesday for the first time in six days after the recent upward momentum gave way to lingering concerns about the U.S. trade war with China.

Defense contractors suffered steep declines and technology stocks gave up most of their early gains, taking the steam out of a morning rally on Wall Street. The Dow Jones Industrial Average closed with a loss of 14 points after rising as many as 186 points just after trading began.

The market had rallied for five straight days since the Federal Reserve signaled it is open to cutting interest rates if needed to stabilize the economy rattled by trade disputes. The gains had erased much of the S&P 500's 6.6% decline in May. But Tuesday, concerns that the U.S. trade spat with China could be prolonged and hurt growth in the world's two biggest economies dimmed investor enthusiasm.










https://www.usnews.com/news/busines...es-rise-as-trump-plans-to-meet-chinese-leader

*Stocks Fizzle After Early Gains, Suffer 1st Loss in 6 Days*
U.S. stocks gave up early gains and fizzled in afternoon trading after technology and industrial companies headed lower.
By Associated Press, Wire Service Content June 11, 2019, at 5:23 p.m. 

By DAMIAN J. TROISE, AP Business Writer

NEW YORK (AP) — U.S. stocks fell Tuesday for the first time in six days after the recent upward momentum gave way to lingering concerns about the U.S. trade war with China.

Defense contractors suffered steep declines and technology stocks gave up most of their early gains, taking the steam out of a morning rally on Wall Street. The Dow Jones Industrial Average closed with a loss of 14 points after rising as many as 186 points just after trading began.

The market had rallied for five straight days since the Federal Reserve signaled it is open to cutting interest rates if needed to stabilize the economy rattled by trade disputes. The gains had erased much of the S&P 500's 6.6% decline in May. But Tuesday, concerns that the U.S. trade spat with China could be prolonged and hurt growth in the world's two biggest economies dimmed investor enthusiasm.

Katie Nixon, chief investment officer at Northern Trust Wealth Management, said there is no clear resolution in sight to the trade war and investors will have to get accustomed to uncertainty hanging over the market.

"The market's going to be really sensitive to trade news," she said. "This is going to be very hard to resolve neatly and quickly."

President Donald Trump has said he plans to meet with Chinese President Xi Jinping at the Group of 20 summit late this month in Osaka, Japan. But Trump reiterated Tuesday that if the two can't reach an agreement on trade, he'll proceed with tariffs on $300 billion goods from China that aren't already subject to import taxes.

Defense companies were the biggest decliners in the S&P 500. The market on Monday welcomed news of a megamerger between Raytheon and United Technologies, but the stocks dropped sharply Tuesday. Raytheon lost 5.1% and United Technologies shed 4%. L3 Technologies fell 4.4% and Harris Corp. dropped 4.3%. On Monday, Trump expressed some reservations about the Raytheon-United Technologies tie-up.

Technology stocks also gave up some early gains. Adobe fell 1.6% and Advanced Micro Devices fell 2.5%. The tech sector is still up nearly 24% so far this year, the best performer among the 11 sectors in the S&P 500.

Consumer-focused stocks and internet companies were among the gainers. Facebook rose 1.9% and Verizon gained 1.2%. Walgreens rose 1.1% and Dollar Tree rose 2.7%.

The S&P 500 slipped 1.01 point, or 0.03%, to 2,885.72. The Dow fell 14.17 points, or 0.1%, to 26,048.51. The Nasdaq composite slipped 0.60 of a point to end at 7,822.57. The Russell 2000 index of small companies fell 4.45 points, or 0.3%, to 1,519.11.

John Lynch, chief investment strategist at LPL Research, said in a note to clients that a trade deal with China "is unlikely until more economic pain is incurred by both China and the United States." That pain will eventually push the two sides to strike a deal, he said.

Both Lynch and Nixon said that the longer the trade war goes on, and tariffs are in place against Chinese goods, the more likely it is that the Fed will cut rates. The futures market is indicating that investors expect the Fed to cut its benchmark interest rate as early as its July policy meeting.

Nixon noted that the bond market has been sending the Fed a clear message that the central bank is behind the curve on lowering rates. The volatile stock market, weak economic data and higher bond prices are all potential catalysts for a rate change.

"The tea leaves are all there for them to read, if they want to read them," she said.

The yield on the 10-year Treasury has dropped from around 2.50% in early May to 2.14% Tuesday.

Meanwhile, one of the market's recent high-flyers had a rare bad day.

Beyond Meat fell 25% after J.P. Morgan's Ken Goldman and James Allen downgraded the stock to "neutral." The downgrade follows a surge in the stock price from $25 to $167 since the maker of plant-based meat alternatives started trading publicly on May 2. In a note to clients Tuesday, Goldman and Allen said the downgrade was "purely a valuation call."

GrubHub jumped 8.3% after the online food service company got some relief from competitive pressures. Amazon is closing its U.S. restaurant delivery service, a 4-year-old business that failed to take off. The sector is highly competitive and includes Uber Eats and Door Dash, along with GrubHub and others.

In other trading, energy futures finished mostly higher Tuesday. Benchmark U.S. crude rose 1 cent to $53.27 a barrel. Brent crude oil, the international standard, was unchanged at $62.29 a barrel.

Wholesale gasoline rose 1.7% to $1.76 per gallon. Heating oil rose to $1.82 per gallon. Natural gas added 1.7% to $2.40 per 1,000 cubic feet.

Gold rose 0.1% to $1,331.20 per ounce, silver rose 0.7% to $14.74 per ounce and copper gained 0.4% to $2.672 per pound.

The dollar rose to 108.50 Japanese yen from 108.44 yen on Friday. The euro weakened to $1.1332 from $1.1315


----------



## bigdog

Stocks closed modestly lower on Wall Street Wednesday, handing the market its second straight loss.

Banks and technology companies accounted for much of the slide as investors shifted money into U.S. bonds, precious metals and other holdings considered safe havens after more than a week of aggressive buying.

Energy stocks took the heaviest losses following a 4% drop in the price of U.S. crude oil. That helped outweigh gains in health care, utilities and elsewhere in the market.

The latest decline followed a broad drop in stocks that ended a five-day winning streak for the market. The Federal Reserve set off last week's rally when it signaled that it is willing to cut interest rates to help stabilize the economy if the U.S. trade war with China starts to crimp growth.










https://www.usnews.com/news/busines...cks-mostly-lower-after-retreat-on-wall-street

*Banks and Tech Stocks Drag Market to 2nd Straight Loss*
Stocks closed modestly lower on Wall Street Wednesday, handing the market its second straight loss.
By Associated Press, Wire Service Content June 12, 2019, at 5:07 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks closed modestly lower on Wall Street Wednesday, handing the market its second straight loss.

Banks and technology companies accounted for much of the slide as investors shifted money into U.S. bonds, precious metals and other holdings considered safe havens after more than a week of aggressive buying.

Energy stocks took the heaviest losses following a 4% drop in the price of U.S. crude oil. That helped outweigh gains in health care, utilities and elsewhere in the market.

The latest decline followed a broad drop in stocks that ended a five-day winning streak for the market. The Federal Reserve set off last week's rally when it signaled that it is willing to cut interest rates to help stabilize the economy if the U.S. trade war with China starts to crimp growth.

Investors are worried that the dispute will drag on much longer than previously expected, weighing on economic growth and corporate profits. That has traders looking ahead to next week's Fed meeting.

"There are concerns about whether or not the Fed next week at its meeting is going to in fact continue to move its stance toward lowering rates," said Quincy Krosby, chief market strategist at Prudential Financial. "The increasing concern is that the global economy continues to slow and that the slowdown is affecting the United States as well."

The S&P 500 index lost 5.88 points, or 0.2%, to 2,879.84. The benchmark index rose 4.4% last week, its best weekly performance of 2019. It's now about 2.2% below its record set on April 30.

The Dow Jones Industrial Average fell 43.68 points, or 0.2%, to 26,004.83. The technology heavy Nasdaq composite index dropped 29.85 points, or 0.4%, to 7,792.72. The Russell 2000 index of smaller company stocks gained 0.68 points, or less than 0.1%, to 1,519.79.

Major indexes in Europe fell broadly.

The sell-off in U.S. markets reflects heightened investor uncertainty over trade and its impact on the economy.

President Donald Trump's decision to threaten an expansion of the trade war to Mexico made a jittery market even more uneasy. Those potential tariffs have been indefinitely postponed, but the move left its mark.

"This was a game changer, the idea that the administration would use tariffs to further policy that is not related to trade is concerning," said Kristina Hooper, chief global market strategist at Invesco.

Investors will likely have to deal with more volatility ahead of an economic summit later this month. Trump has said he plans to meet with Chinese President Xi Jinping at the Group of 20 summit in Osaka, Japan. But Trump has also said that if the two can't reach an agreement on trade, he'll proceed with tariffs on $300 billion goods from China that aren't already subject to import taxes.

Technology companies accounted for much of the market's slide Wednesday. The sector has been under the most pressure from swings in sentiment over the trade dispute between the U.S. and China. Cisco Systems fell 2.2% and Micron Technology dropped 5.4%.

Banks declined as bond prices rose, nudging yields lower. The yield on the 10-year Treasury note fell to 2.12% from 2.14% late Tuesday. Lower yields pull down interest rates on loans, reducing banks' profits. Bank Of America dropped 1% and Citigroup fell 1.6%.

Health care, utilities and industrial companies were among the gainers. Johnson & Johnson gained 1.4%, Exelon rose 2.5% and American Airlines Group added 1.7%.

Traders hammered shares in Dave & Buster's Entertainment after the company gave investors a dismal first quarter financial report and slashed its revenue forecast for the year. The stock plunged 22.4%, its worst one-day loss in over a year.

Mattel climbed 5.3% on published reports saying the toy maker rejected another buyout offer from Bratz doll maker MGE Entertainment.

Medidata Solutions slid 3.6% after the company announced a deal to be acquired at a discount price to French software company Dassault Systems. The deal values the provider of cloud-based services and software at $92.25 per share, less than its closing price of $94.75 on Tuesday.

In other trading, energy futures finished lower Wednesday. Benchmark U.S. crude slid 4% to settle at $51.14 a barrel. Brent crude oil, the international standard, dropped 3.7% to close at $59.97 a barrel.

Wholesale gasoline fell 4% to $1.69 per gallon. Heating oil slid 2.3% to $1.78 per gallon. Natural gas dipped 0.5% to $2.39 per 1,000 cubic feet.

Gold rose 0.4% to $1,336.80 per ounce, silver inched 0.1% higher to $14.75 per ounce and copper fell 0.7% to $2.65 per pound.

The dollar fell to 108.48 Japanese yen from 108.50 yen on Tuesday. The euro weakened to $1.1286 from $1.1332.


----------



## bigdog

Gains in energy and internet companies helped drive stocks broadly higher on Wall Street Thursday, snapping a two-day losing streak for the market in an otherwise choppy week of trading.

The gains were initially fueled by rising oil prices, which boosted energy companies following a suspected attack on two oil tankers in the strategic Strait of Hormuz. The sector sustained its gains as a mix of media, internet and consumer-oriented companies took the lead in pushing every major index higher. Small company stocks rose more than the rest of the market.

Investors have been searching for direction as they cautiously await any new developments on the global trade war between the U.S. and China. Any continued escalations could crimp global economic growth and put the brakes on what is poised to be the longest economic expansion in U.S. history.

Anticipation of next week's Federal Reserve meeting of policyholders helped lift the market Thursday, said Jeff Zipper, managing director at U.S. Bank Private Wealth Management.










https://www.usnews.com/news/busines...ares-mixed-on-jitters-over-hong-kong-protests

*US Stocks Notch Gains, Snap Short Losing Streak*
Gains in energy and internet companies helped drive stocks broadly higher on Wall Street Thursday, snapping a two-day losing streak in an otherwise choppy week of trading.
By Associated Press, Wire Service Content June 13, 2019, at 5:01 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Gains in energy and internet companies helped drive stocks broadly higher on Wall Street Thursday, snapping a two-day losing streak for the market in an otherwise choppy week of trading.

The gains were initially fueled by rising oil prices, which boosted energy companies following a suspected attack on two oil tankers in the strategic Strait of Hormuz. The sector sustained its gains as a mix of media, internet and consumer-oriented companies took the lead in pushing every major index higher. Small company stocks rose more than the rest of the market.

Investors have been searching for direction as they cautiously await any new developments on the global trade war between the U.S. and China. Any continued escalations could crimp global economic growth and put the brakes on what is poised to be the longest economic expansion in U.S. history.

Anticipation of next week's Federal Reserve meeting of policyholders helped lift the market Thursday, said Jeff Zipper, managing director at U.S. Bank Private Wealth Management.

"You've got two competing forces here right now," Zipper said. "The lingering issue of when is this trade tariff deal going to get resolved, and a more dovish Fed."

Last week, Fed Chair Jerome Powell set off a market rally after he signaled that the central bank is willing to cut interest rates to help stabilize the economy if the trade war between Washington and Beijing starts to crimp growth.

The S&P 500 index rose 11.80 points, or 0.4%, to 2,891.64. The benchmark index has been seesawing this week, opening strong on Monday, and then falling for two straight days before reversing course again on Thursday. The uneven week follows the index's best week of 2019.

The Dow Jones Industrial Average gained 101.94 points, or 0.4%, to 26,106.77. The Nasdaq composite added 44.41 points, or 0.6%, to 7,837.13. The Russell 2000 index of small company stocks climbed 16.01 points, or 1.1%, to 1,535.80.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.10% from 2.12% late Wednesday.

U.S. stock indexes rebounded early on Thursday as oil prices surged on news of a suspected attack on two oil tankers in the strategic Strait of Hormuz.

The incident in the Strait of Hormuz comes amid heightened tensions between the United States and Iran. One third of all oil traded by sea, which amounts to 20% of oil traded worldwide, passes through the strait. The U.S. blamed Iran in what it called a campaign of "escalating tensions" in a region crucial to global energy supplies.

Benchmark U.S. crude rose 2.2% to settle at $52.28 a barrel. Brent crude oil, the international standard, added 2.2% to close at $61.31 a barrel. The gains come at a time when oil prices have been falling on signs demand is declining.

Analysts questioned whether the gains can hold. Jim Ritterbusch of Ritterbusch & Associates said in a note to clients the jump is factoring in a worst case scenario and oil is "apt to relinquish the bulk of gains as additional details emerge."

In addition, OPEC added to the recent concerns among traders that global demand is slipping. In its latest monthly report on the oil market, OPEC forecast demand would grow by 1.4 million barrels a day in 2019, down by 700,000 barrels a day from its previous forecast. OPEC said it lowered the forecast due to "sluggish oil demand data" from Western countries during the first quarter. While global demand appears to be slipping, supplies remain high.

The surge in oil prices lifted shares of oil services companies and oil producers. Schlumberger gained 3.4%.

Walt Disney gained 4.4%, leading a mix of media and internet companies higher. Shares in Google parent Alphabet rose 1.1% and Facebook gained 1.4%.

Tapestry's 3.9% gain led a mix of consumer-oriented stocks higher, including Macy's, home improvement retailers Home Depot and Lowe's, and homebuilders. Those companies caught an extra boost from the latest mortgage rate figures, which remain near historic lows.

Mortgage buyer Freddie Mac says the average rate on the 30-year, fixed-rate mortgage held steady from last week at 3.82 percent, its lowest point since September 2017. Lennar and KB Home each rose 1.9%.

Solid earnings and forecasts helped lift several stocks.

Lululemon gained 2.1% after stretching beyond Wall Street's profit and revenue forecasts for the first quarter. The maker of athletic apparel popular with yoga practitioners also raised its profit forecast for the year.

Furniture and houseware retailer RH surged 15.8% after the company blew past Wall Street's first quarter profit forecasts and raised its own profit forecast for the year. The company said that it raised some prices to offset the impact of tariffs and plans on moving some production out of China.

Higher fares gave major airlines a boost. American Airlines confirmed that it raised domestic fares $5 each way. J.P. Morgan said Southwest Airlines followed by raising prices on tickets bought within a week of the flight and favored by business travelers. The hikes mark the second round of fare increases in just over a month.

American Airlines surged 6.4%, Delta gained 1.9% and Southwest rose 3.1%.

Health care stocks lagged the market.

In other energy futures trading, wholesale gasoline rose 2% to $1.72 per gallon. Heating oil gained 1.5% to $1.81 per gallon. Natural gas fell 2.6% to $2.33 per 1,000 cubic feet.

Gold rose 0.4% to $1,336.80 per ounce, silver inched 0.1% higher to $14.75 per ounce and copper fell 0.7% to $2.65 per pound.

The dollar fell to 108.34 Japanese yen from 108.48 yen on Wednesday. The euro weakened to $1.1279 from $1.1286.


----------



## bigdog

Stocks ended a choppy week of trading with modest losses Friday as investors look forward to getting more clues about the direction of interest rates.

Technology shares drove the declines, and energy stocks also fell a day after leading the market. Some late-day gains in banks and insurers helped temper the market's losses.

Investors dealt with fresh concerns about the impact on businesses of the U.S. trade dispute with China. The chipmaker Broadcom warned that demand for chips has slowed because of U.S. restrictions on sales to Chinese technology firms and hesitation among customers to place new orders. It shaved $2 billion from its annual revenue forecast.

Trading this week was uneven as investors swung between safe-play holdings and riskier bets. Stocks rose Monday but then seesawed as investors saw signs that the U.S. and China won't settle their differences on trade anytime soon. There is concern that a protracted dispute could further hurt global economic growth and corporate profits. A suspected attack on two oil tankers in the Strait of Hormuz added more uncertainty.










https://www.usnews.com/news/busines...s-mixed-over-concerns-about-oil-tankers-trade

*Stocks Post Small Losses; Investors Look Ahead to Fed*
Stocks ended a choppy week of trading with modest losses Friday as investors look forward to getting more clues about the direction of interest rates.
By Associated Press, Wire Service Content June 14, 2019, at 5:01 p.m.

By DAMIAN J. TROISE, AP Business Writer

NEW YORK (AP) — Stocks ended a choppy week of trading with modest losses Friday as investors look forward to getting more clues about the direction of interest rates.

Technology shares drove the declines, and energy stocks also fell a day after leading the market. Some late-day gains in banks and insurers helped temper the market's losses.

Investors dealt with fresh concerns about the impact on businesses of the U.S. trade dispute with China. The chipmaker Broadcom warned that demand for chips has slowed because of U.S. restrictions on sales to Chinese technology firms and hesitation among customers to place new orders. It shaved $2 billion from its annual revenue forecast.

Trading this week was uneven as investors swung between safe-play holdings and riskier bets. Stocks rose Monday but then seesawed as investors saw signs that the U.S. and China won't settle their differences on trade anytime soon. There is concern that a protracted dispute could further hurt global economic growth and corporate profits. A suspected attack on two oil tankers in the Strait of Hormuz added more uncertainty.

The S&P 500 index fell 4.66 points, or 0.2%, to 2,886.98 Friday and ended the week with a slim gain of 0.5%. The Dow Jones Industrial Average dropped 17.16 points, or 0.1%, to 26,089.61. The Nasdaq composite slid 40.47 points, or 0.5%, to 7,796.66. The Russell 2000 index of small company stocks dropped 13.30 points, or 0.9%, to 1,522.50.

The major indexes are still showing strong gains for June — the Dow is up 5.1% and the S&P 500 is up 4.9%. Last week, Federal Reserve Chair Jerome Powell set off a market rally after he signaled that the central bank is willing to cut interest rates to help stabilize the economy if the trade war between Washington and Beijing starts to slow economic growth.

The Fed holds its next meeting of policyholders next week. No action on rates is expected, but the futures market indicates that investors are almost certain the Fed will cut rates at its July meeting, so they'll carefully parse a statement from the central bank and comments from Powell on Wednesday.

Economists Ethan Harris and Aditya Bhave of Bank of America Merrill Lynch wrote in a note to clients that Fed officials probably haven't decided yet whether to cut rates in July and won't try to sway investors one way or another at next week's meeting. They say that Powell will have to "tap dance" during his press conference and expect him to "keep options open with the possibility of a cut in July but not a pre-commitment."

The economists expect Fed officials to wait until the second week of July to indicate whether they intend to cut rates, after seeing the next government report on the jobs market and other economic data. They'll also know the results of an important meeting of the G-20 in late June, where President Donald Trump and Chinese President Xi Jinping could meet and try to negotiate a deal on trade.

Harris and Bhave say the Fed is likely to cut rates in September.

Chipmakers were the big decliners on Friday. Broadcom, which gets about half its revenue from China, fell 5.6%. Texas Instruments also gets nearly half its revenue from China, according to markets research company FactSet, and it shed 3.5%.

Energy stocks fell, giving back some of the strong gains from Thursday. Oil rig operator Noble Energy dropped 5%.

Banks and insurers posted gains late in the day to boost the financial sector. Regional bank PNC rose 1.1% and Allstate gained 1%.

Facebook rose 2.2%. The social media company has reportedly enlisted some key backers for its upcoming cryptocurrency.

Utility stocks were among the biggest gainers. That's typically a sign that investors are worried about economic growth and shifting money into safer holdings. Consumer staples, also considered less risky, swayed between small gains and losses.

Friday closed out another good week for initial public offerings.

PetSmart removed the leash from its online pet products company Chewy, which surged 59% in its debut. The 8-year-old company garnered high demand. It priced at $22 per share and is now valued at $8 billion.

Other recent strong IPOs include cloud-computing security company CrowdStrike, which jumped about 70% on its first day of trading Wednesday. Plant-based meat alternative company Beyond Meat nearly tripled in value on its first day of trading in May and at Friday's close of $150.13 is six times higher than its initial offering price

Renaissance Capital, a provider of institutional research and IPO ETFs, has seen a 34% gain in its IPO ETF so far this year. That's outpacing the 15% gain in the broader S&P 500.

"That's an indicator that investors in these new companies are making money and are more inclined to go into new ones," said Kathleen Smith, principal at Renaissance Capital.

In other trading, benchmark crude oil rose 0.4% to settle at $52.51 a barrel. Brent crude oil, the international standard, added 1.1% to close at $62.01 a barrel. Wholesale gasoline rose 0.7% to $1.733 per gallon. Heating oil added 1.3% to $1.83 per gallon. Natural gas rose 2.7% to $2.387 per 1,000 cubic feet.

Gold edged up 0.1% to $1,344.50 per ounce, silver lost 0.6% to $14.80 per ounce and copper fell 1% to $2.63 per pound.

The dollar rose to 108.55 Japanese yen from 108.34 yen on Thursday. The euro weakened to $1.1207 from $1.1279.

743


----------



## bigdog

U.S. stocks posted slight gains on Wall Street on Monday, adding a bit to the last two weeks of gains.

However, trading remains choppy as uncertainty continued over several ongoing trade disputes and their possible effect on economic growth.

The Dow Jones industrial average edged up 22.92 points, or 0.1%, to 26,112.53. The S&P 500 index rose 2.69 points, or 0.1%, to 2,889.67 and the Nasdaq composite index rose 48.37 points, or 0.6%, to 7,845.02.

Financial companies were the biggest losers as bond yields slipped. The KBW Bank index, a measurement of the 24 biggest banks, fell 1.3%.










https://www.usnews.com/news/busines...es-mixed-as-investors-look-ahead-to-fed-rates

*US Stocks Add to 2 Weeks of Gains, Helped by Deal-Making*
US stocks add to 2 weeks of gains, helped by deal-making, but investors remain anxious about trade.
By Associated Press, Wire Service Content June 17, 2019, at 4:25 p.m. 

By DAMIAN J. TROISE, AP Business Writer

NEW YORK (AP) — U.S. stocks posted slight gains on Wall Street on Monday, adding a bit to the last two weeks of gains.

However, trading remains choppy as uncertainty continued over several ongoing trade disputes and their possible effect on economic growth.

The Dow Jones industrial average edged up 22.92 points, or 0.1%, to 26,112.53. The S&P 500 index rose 2.69 points, or 0.1%, to 2,889.67 and the Nasdaq composite index rose 48.37 points, or 0.6%, to 7,845.02.

Financial companies were the biggest losers as bond yields slipped. The KBW Bank index, a measurement of the 24 biggest banks, fell 1.3%.

The muted gains mirror last week's pattern of choppy day-to-day trading as investors search for direction ahead of an interest rate decision by the Federal Reserve on Wednesday.

Investors focused on a round of deal-making, while continuing to pay close attention to the ongoing trade dispute between the U.S. and China.

The current impact from the spat between the U.S. and China isn't enough to cause a recession, but a further escalation of tensions could become a trigger, according to Jason Pride, chief investment officer of private wealth for Glenmede.

"I think that's why investors are so focused on this trade issue," he said. "In a worst case scenario, we're talking about a 1.5% GDP impact."

The worst-case scenario would involve additional tariffs on Chinese goods along with other global tariffs, including the currently postponed actions against Mexico.

The S&P 500 eked out a modest gain of 0.5% last week. Investors have been swinging between risky and safe-play holdings on a lack of developments in the ongoing trade war between the U.S. and China. Jitters over trade disputes and their impact on global economic growth have created a volatile market.

Array BioPharma surged 57% after announcing that it had agreed to be bought by pharmaceutical giant Pfizer for $11.4 billion.

Array currently makes an advanced skin cancer treatment and has a deep pipeline of cancer drugs in development. Pfizer makes a wide range of cancer and other drugs. It is the biggest U.S. drugmaker by revenue. Pfizer rose 0.3% to $42.87 a share.

New York auction house Sotheby's surged 58.6% after announcing its sale to Patrick Drahi, a media and telecom entrepreneur and art collector.

Other companies were also moving after announcing deals.

Oilfield services company C&J Energy Services surged 20% after announcing it is being bought by rival Keane Group in an all-stock deal. LegacyTexas Financial Group rose roughly 2% after it announced a $2.1 billion cash and stock sale to regional bank Prosperity Bancshares.

Align Technology fell more than 6% after the medical device maker ended discussions about a potential distribution deal with Straumann Group. The company focuses on products for the dental industry. The deal was initially part of a patent dispute settlement with a unit of Straumann. Instead, Align will receive a $16 million payment.

In other trading, benchmark crude oil fell 1.1% to settle at $51.93 a barrel. Brent crude oil, the international standard, dropped 1.7% to close at $60.94 a barrel. Wholesale gasoline fell 2.4% to $1.69 per gallon. Heating oil was down 1.6% to $1.80 per gallon. Natural gas was mostly unchanged at $2.39 per 1,000 cubic feet.

Gold edged down 0.1% to $1,342.90 per ounce, silver rose 0.2% to $14.83 per ounce and copper rose 0.6% to $2.65 per pound.

The dollar rose to 108.57 Japanese yen from 108.55 yen on Friday. The euro weakened to $1.1216 from $1.1207.


----------



## bigdog

Potentially encouraging news on trade and interest rates put Wall Street in a buying mood Tuesday, driving the market to solid gains and sending the Dow Jones Industrial Average 350 points higher.

Technology stocks powered much of the rally as investors welcomed news that the leaders of the U.S. and China will meet face-to-face next week to discuss their long-running trade dispute. Traders have been hoping for any positive sign in the trade war between the world's largest economies.

It's not the first time the market has rallied on seemingly encouraging developments on trade. Previous positive signs did not pan out, triggering market turbulence.










https://www.usnews.com/news/busines...s-mixed-ahead-of-central-banks-rate-decisions

*Optimism Over Trade Sends US Stocks Sharply Higher*
Potentially encouraging news on trade and interest rates put Wall Street in a buying mood Tuesday, driving the market to solid gains and sending the Dow Jones Industrial Average more than 350 points higher.
By Associated Press, Wire Service Content June 18, 2019, at 4:48 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Potentially encouraging news on trade and interest rates put Wall Street in a buying mood Tuesday, driving the market to solid gains and sending the Dow Jones Industrial Average 350 points higher.

Technology stocks powered much of the rally as investors welcomed news that the leaders of the U.S. and China will meet face-to-face next week to discuss their long-running trade dispute. Traders have been hoping for any positive sign in the trade war between the world's largest economies.

It's not the first time the market has rallied on seemingly encouraging developments on trade. Previous positive signs did not pan out, triggering market turbulence.

"You sort of have to ignore it a little bit," said Tobias Carlisle, founder and portfolio manager at Acquirers Funds. "It's probably going to drag out to the end of the year, so what we're trying to do is buy something undervalued, and it's great when there's a day like today and it works."

Markets also got a boost after the head of the European Central Bank said it was ready to cut interest rates and provide additional economic stimulus if necessary. The remarks put the spotlight on the Federal Reserve, which is set to announce its own decision on interest rates Wednesday.

The S&P 500 index climbed 28.08 points, or 1% to 2,917.75. The Dow gained 353.01 points, or 1.4%, to 26,465.54. The Nasdaq, which is heavily weighted with technology companies, jumped 108.86 points, or 1.4%, to 7,953.88.

The Russell 2000 index of smaller companies added 17.48 points, or 1.1%, to 1,550.23.

It was the second straight gain for the market, extending a strong rebound for stocks in June after a steep sell-off last month.

The benchmark S&P 500 is now less than 1% below its all-time high set on April 30. The Dow is 1.4% below its record high set October 3. The Nasdaq is about 2.5% below its record close set on May 3.

The wave of buying got its start overseas early Tuesday after the remarks from the head of the ECB. Major indexes in Europe closed sharply higher.

President Donald Trump stirred fresh optimism among investors when he said he will hold talks with Chinese President Xi Jinping at an international summit in Japan. U.S. businesses have implored Trump to stop escalating the trade war and refrain from expanding his tariffs to $300 billion on goods from China.

A prospective meeting between the U.S. and China's leaders is welcome news for a market that has been searching for some direction. "If you think back a week ago, there was a fear they wouldn't even talk at all," said J.J. Kinahan, chief market strategist at TD Ameritrade.

Investors were also looking ahead to the Federal Reserve's next interest rate policy announcement Wednesday, with many betting the central bank is headed for its first interest rate cut in over a decade.

Two weeks ago, Fed Chair Jerome Powell set off a rally on Wall Street after he signaled that the central bank is willing to cut interest rates to help stabilize the economy if the trade war between Washington and Beijing starts to crimp growth. Any continued escalations could put the brakes on what is poised to be the longest economic expansion in U.S. history.

Most analysts say they think economic growth has slowed sharply in the April-June quarter to around a 1.5% percent annual rate, only half the pace of the past year.

Investors collectively envision a Fed rate cut by July and possibly further cuts after that. Some are even betting on a rate cut this week. Many economists, though, think the Fed will wait until September at the earliest to announce its first drop in its benchmark short-term interest rate since 2008 and might not cut again in 2019. A few Fed watchers foresee no rate cut at all this year.

"I don't know that the Fed is going to deliver what investors want because the market looks fairly frothy at the moment," Carlisle said.

Technology sector stocks powered much of the rally Tuesday. Apple gained 2.4% and chipmakers Intel and Nvidia rose 2.7% and 5.4%, respectively. Google's parent company, Alphabet added 1%.

Banks rose. JPMorgan Chase picked up 1.4% and Bank of America rose 2.5%.

Industrial and consumer-related stocks also made big gains. General Electric climbed 3.7%, Caterpillar rose 2.4%, and Nike added 2.7%.

Utilities and consumer products companies ended lower, a sign that investors were stepping back from the safe-play sectors and taking on more risk.

SM Energy climbed 6.6% after the oil and natural gas company raised production forecasts for the second quarter and full year.

U.S. government bond prices rose, sending yields lower. The yield on the 10-year Treasury note fell to 2.06%, below the 2.08% it traded at late Monday. That's still well below the 2.21% yield on the three-month Treasury bill.

Benchmark crude oil rose 3.8% to settle at $53.90 a barrel. Brent crude oil, the international standard, rose 2% to close at $62.14 a barrel. Wholesale gasoline rose 1.8% to $1.72 per gallon. Heating oil climbed 1.6% to $1.83 per gallon. Natural gas fell 2.4% to $2.33 per 1,000 cubic feet.

Gold edged down 0.6% to $1,350.70 per ounce, silver rose 1.1% to $14.99 per ounce and copper rose 2.1% to $2.70 per pound.

The dollar fell to 108.44 Japanese yen from 108.57 yen on Friday. The euro weakened to $1.1196 from $1.1216.


----------



## bigdog

*ASX now just 3% below all-time highs*
The market latched onto an improving dialogue between the US & China overnight ahead of the G20 meeting in Japan next week – President Trump saying that he had talked to President Xi Jinping confirming the leaders would meet at the G20 + they would send their respective teams to begin discussions beforehand. 
This is obviously another positive development for the market and when combined with the expectations of lower interest rates, it’s easy to comprehend markets testing all-time highs – now just ~200 points away.

Stocks brushed off a muted start on Wall Street and notched modest gains Wednesday after the Federal Reserve reaffirmed that it is prepared to cut interest rates if needed to shield the U.S. economy from trade conflicts or other threats.

In a widely expected move, the central bank's policymakers decided to leave the Fed's benchmark interest rate unchanged. Still, by signaling the possibility of lower rates, the Fed reassured investors who have been worried that the trade war between Washington and Beijing could weigh on global economic growth, and by extension, corporate profits.

The reaction to the Fed's midafternoon statement was more pronounced in the bond market, where the yield on the 10-year Treasury note slid to 2.03%, its lowest level since November 2016. The move signals that bond traders see an increased likelihood that the Fed will lower rates. Investors are betting on at least one interest rate cut this year, possibly as early as July.










https://www.usnews.com/news/busines...-on-trade-optimism-as-trump-hints-of-xi-talks

*US Stocks Rise After Fed Signals Future Rate Cuts*
Stocks brushed off a muted start on Wall Street and notched modest gains Wednesday after the Federal Reserve reaffirmed that it is prepared to cut interest rates if needed to shield the U.S. economy from trade conflicts or other threats.
By Associated Press, Wire Service Content June 19, 2019, at 4:49 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks brushed off a muted start on Wall Street and notched modest gains Wednesday after the Federal Reserve reaffirmed that it is prepared to cut interest rates if needed to shield the U.S. economy from trade conflicts or other threats.

In a widely expected move, the central bank's policymakers decided to leave the Fed's benchmark interest rate unchanged. Still, by signaling the possibility of lower rates, the Fed reassured investors who have been worried that the trade war between Washington and Beijing could weigh on global economic growth, and by extension, corporate profits.

The reaction to the Fed's midafternoon statement was more pronounced in the bond market, where the yield on the 10-year Treasury note slid to 2.03%, its lowest level since November 2016. The move signals that bond traders see an increased likelihood that the Fed will lower rates. Investors are betting on at least one interest rate cut this year, possibly as early as July.

"The story of the last six months is equities are comforted when they believe that the Fed is going to be supportive and going to provide offsets to some of the policy uncertainties that are out there," said Willie Delwiche, investment strategist at Baird.

The latest gain extended the market's winning streak to a third day, adding to a June rebound in stocks after a dismal sell-off in May.

The S&P 500 rose 8.71 points, or 0.3%, to 2,926.46. The broad market index is within striking range of its all-time high, set on April 30.

The Dow Jones Industrial Average gained 38.46 points, or 0.1%, to 26,504. The Nasdaq composite added 33.44 points, or 0.4%, to 7,987.32. The Russell 2000 index of smaller companies picked up 5.35 points, or 0.3%, to 1,555.58.

Major stock indexes in Europe finished mixed.

U.S. stock indexes spent much of the day wavering between small gains and losses as investors waited for the Fed to deliver its update on interest rates following a two-day meeting of policymakers.

The Fed left its key interest rate, which influences many consumer and business loans, unchanged Wednesday in a range of 2.25% to 2.5%. That's where it's been since December.

The central bank also said that because "uncertainties" have increased, it would "act as appropriate to sustain the expansion." That language echoed a remark that Chairman Jerome Powell made two weeks ago that many investors interpreted as a signal that rate cuts were on the way, triggering a rally on Wall Street.

The Fed also removed a reference to being "patient" about adjusting rates. That suggests that the central bank is now inclined to begin cutting rates for the first time in more than a decade to help stabilize the economy.

"They don't want to overreact to one data point here or one data point there," Delwiche said. "They're trying to establish what is the trend in the economy and the degree to which economic conditions have actually deteriorated before making a move."

Most analysts say they think economic growth has slowed sharply in the April-June quarter to around a 1.5% percent annual rate, only half the pace of the past year.

The Fed's statement came a day after the head of the European Central Bank said it was ready to cut interest rates and provide additional economic stimulus if necessary.

The biggest issue looming over the market remains the U.S. trade war with China. Stocks opened the week higher and rallied on Tuesday after President Donald Trump said he plans to meet with China's president at the end of the month to discuss their ongoing trade war. The announcement injected some hope into a market that has been volatile because of concerns over the lingering trade dispute and its potential impact on economic growth.

The market has rallied in the past and then dipped again because of seemingly good news on trade talks that did not result in any concrete progress.

Health care stocks drove much of the market's gains Wednesday. Allergan climbed 6.2% and UnitedHealth Group rose 1.8%.

Technology stocks rose, with software maker Adobe leading the way with a 5.2% gain on solid profit results. Household goods makers also notched gains. Kraft Heinz added 2.3%.

Utilities, which tend to rise when bond yields decline, also rose. Edison International gained 2.8%.

Financial companies, including banks, were the biggest laggards. The sector is sensitive to the moves in the bond market. Lower bond yields pull down the interest rates that banks charge on loans. Synchrony Financial dropped 1.7%.

The 10-year Treasury yield has been declining steadily since hitting a high of 3.23% last November. It fell to 2.03% Wednesday, down from 2.06% late Tuesday.

Benchmark crude oil fell 0.3% to settle at $53.76 a barrel. Brent crude oil, the international standard, fell 0.5% to close at $61.82 a barrel. Wholesale gasoline rose 0.8% to $1.74 per gallon. Heating oil climbed 0.1% to $1.83 per gallon. Natural gas fell 2.2% to $2.28 per 1,000 cubic feet.

Gold edged down 0.1% to $1,348.80 per ounce, silver fell 0.2% to $14.96 per ounce and copper fell 0.8% to $2.68 per pound.

The dollar fell to 107.97 Japanese yen from 108.44 yen on Friday. The euro rose to $1.1245 from $1.1196.


----------



## bigdog

Wall Street capped a broad rally for stocks Thursday by driving the S&P 500 index to an all-time high.

The milestone, which eclipsed the benchmark index's last record close on April 30, underscores a swift rebound for the market in June that has erased the losses from a 6.6% dive in May. The major U.S. stock indexes are up more than 7% so far this month.

Thursday's rally came as investors balanced optimism over the possibility that the Federal Reserve will cut interest rates in response to a slowing global economy with jitters about the prospects of dimmer corporate profits should a severe slowdown take hold.










https://www.usnews.com/news/busines...ares-gain-shanghai-up-26-on-fed-rate-cut-talk

*S&P 500 Index Closes at Record High as Stock Rally Continues*
Wall Street capped a broad rally for stocks by driving the S&P 500 index to an all-time high.
By Associated Press, Wire Service Content June 20, 2019, at 5:02 p.m.

By ALEX VEIGA, AP Business Writer

Wall Street capped a broad rally for stocks Thursday by driving the S&P 500 index to an all-time high.

The milestone, which eclipsed the benchmark index's last record close on April 30, underscores a swift rebound for the market in June that has erased the losses from a 6.6% dive in May. The major U.S. stock indexes are up more than 7% so far this month.

Thursday's rally came as investors balanced optimism over the possibility that the Federal Reserve will cut interest rates in response to a slowing global economy with jitters about the prospects of dimmer corporate profits should a severe slowdown take hold.

Those worries prompted traders to shift money into safe-haven assets this week, such as gold and U.S. government bonds. The yield on the 10-year Treasury briefly slid Thursday as low as 1.97% after falling a day earlier to 2.02%. The yield, which is used to set interest rates on mortgages and other loans, is the lowest it's been since November 2016.

The price of gold, meanwhile, jumped 3.6%.

"If the Fed is going to cut rates it means that the economic environment is slowing down," said Lindsey Bell, investment strategist at CFRA. "You have investors looking to bonds to hide out in. You're also seeing a big move up in gold on the back of the Fed's decision as well."

Investors' jitters over escalating tensions between the U.S. and Iran sent the price of U.S. crude oil 5.4% higher. Crude prices had been in a bear market just weeks ago, what Wall Street calls a drop of 20% or more.

The S&P 500 climbed 27.72 points, or 0.9%, to 1,954.18, a record high.

The Dow Jones Industrial Average rose 249.17 points, or 0.9%, to 26,753.17. The Nasdaq gained 64.02 points, or 0.8%, to 8,051.34. The Russell 2000 index of smaller companies picked up 7.92 points, or 0.5%, to 1,563.49.

Major stock indexes in Europe also finished higher.

Despite uncertainty over the global economy, the lingering U.S. trade war with China and the prospect of geopolitical conflict with Iran, stock investors have been in a buying mood this month. That's been a marked reversal from May, when jitters over the escalating trade conflict between Washington and Beijing derailed the market's strong start to the year.

The market's recovery gained momentum this week after the central bank said on Wednesday that it stands ready to cut interest rates. Traders also grew more hopeful that trade talks between the U.S. and China may make progress this month.

The top U.S. trade negotiator is scheduled to meet with his Chinese counterpart to discuss a trade dispute between the world's two biggest economies before a summit next week in Japan between Presidents Donald Trump and Xi Jinping of China. The market has rallied in the past and then dipped again because of seemingly good news on trade talks that did not result in any concrete progress.

Technology stocks accounted for a big share of Thursday's gains. Oracle led the sector, and all stocks in the S&P 500, jumping 8.2% after the software company reported solid financial results.

Industrial companies also notched solid gains. United Rentals climbed 3.4%.

The spike in oil prices sent energy sector stocks broadly higher. Noble Energy gained 6.2%.

Benchmark crude oil rose 5.4% to settle at $56.65 a barrel. Brent crude oil, the international standard, rose 4.3% to close at $64.45 a barrel.

Crude prices surged as tensions between the U.S. and Iran intensified, stoking fears that oil shipments through the Strait of Hormuz could be compromised. Iran's Revolutionary Guard said it shot down a U.S. drone on Thursday over Iranian airspace. The drone shooting follows last week's attack on two oil tankers near the Gulf of Oman.

Bond yields continued to slide a day after the Federal Reserve signaled that it is prepared to cut its benchmark interest rate if needed to shield the U.S. economy from trade conflicts or other threats. While the central bank left interest rates unchanged, investors are betting on at least one interest rate cut this year.

After sliding for much of the day, the yield on the 10-year Treasury note inched up to 2.03% from 2.02% late Wednesday.

"That's kind of confirming investors' nervousness and search for safety," Bell said. "At the same time, you have the stock market rallying because history has shown once the Fed starts cutting rates, six to 12 months after that you do get a rally in the equity market."

Another factor driving demand for U.S. Treasurys is that government bonds in Germany and other countries are returning negative yields, making U.S. bonds more attractive.

Shares in work messaging platform Slack surged in their stock market debut. The company's shares opened trading at $38.25 and closed 48.5% higher. Ride-hailing companies Uber and Lyft, video conferencing company Zoom Video Communications and digital scrapbooking site Pinterest have all gone public in recent weeks.

In other commodities trading, wholesale gasoline rose 2.9% to $1.79 per gallon. Heating oil climbed 3% to $1.88 per gallon. Natural gas fell 4% to $2.19 per 1,000 cubic feet.

Gold rose 3.6% to $1,396.90 per ounce, silver also rose 3.6% to $15.49 per ounce and copper rose 1.2% to $2.71 per pound.

The dollar fell to 107.27 Japanese yen from 107.97 yen on Wednesday. The euro rose to $1.1295 from $1.1245.


----------



## bigdog

Wall Street finished a milestone-setting week on a downbeat note Friday after a late flurry of selling nudged stocks lower, ending the market’s four-day winning streak.

Even with the modest losses the market delivered its third straight weekly gain, with the benchmark S&P 500 index hovering just below its record high close from a day earlier.

That milestone, which eclipsed the benchmark index’s last record close on April 30, came amid a swift turnaround for stocks this month that has erased the losses from a steep sell-off in May. The major U.S. stock indexes are up more than 7% so far this month and are holding on to gains of more than 14% for the year.










https://www.apnews.com/64814634ca2f4872b958ad650a39d0bc

*S&P 500 notches 3rd straight weekly gain after wobbly day*
By ALEX VEIGA

Wall Street finished a milestone-setting week on a downbeat note Friday after a late flurry of selling nudged stocks lower, ending the market’s four-day winning streak.

Even with the modest losses the market delivered its third straight weekly gain, with the benchmark S&P 500 index hovering just below its record high close from a day earlier.

That milestone, which eclipsed the benchmark index’s last record close on April 30, came amid a swift turnaround for stocks this month that has erased the losses from a steep sell-off in May. The major U.S. stock indexes are up more than 7% so far this month and are holding on to gains of more than 14% for the year.

Investors have been reassured by statements from the Federal Reserve this month that suggest the central bank is prepared to cut interest rates in response to a slowing global economy. At the same time, traders remain concerned that corporate profits might suffer should the kind of economic slowdown that would prompt the Fed to cut rates take hold.

A mixed batch of economic data on Friday didn’t have much of an impact on trading, which remained mostly muted as investors took a breather after a four-day rally.

“Some of the information we’ve gotten today hasn’t been all that impactful to kind of change the price action we saw this week,” said Ioana Martin, global investment specialist at J.P. Morgan Private Bank.

The S&P 500 index dipped 3.72 points, or 0.1%, to 2,950.46. The Dow Jones Industrial Average dropped 34.04 points, or 0.1%, to 26,719.13. The Nasdaq composite fell 19.63 points, or 0.2%, to 8,031.71.

Smaller company stocks fared worse than the rest of the market. The Russell 2000 index slumped 13.87 points, or 0.9%, to 1,549.63.

Major indexes in Europe fell.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.06% from 2% on Thursday.

Trading was wobbly for much of Friday as investors sized up a mixed batch of economic data. A report on manufacturing for June came in below analysts’ forecasts. A separate report was more encouraging, indicating that sales of previously occupied U.S. homes increased in May.

The modest dip cut into some of the market’s gains from Thursday, but did little to dent the Wall Street’s June rally.

All told, the S&P 500 is up 17.7% this year, while the Dow is up 14.5%. The Nasdaq, which his heavily weighted with technology stocks, is up 21.1% for the year. The Russell 2000 is up 14.9%.

The biggest uncertainty looming over the market remains the U.S. trade war with China. Stocks opened the week higher and rallied since then after President Donald Trump said he planned to meet with China’s president next week at the G20 summit in Japan to discuss their ongoing trade conflict.

Both nations’ leaders have lately signaled a willingness to resolve the dispute and are meeting next week for talks.

Meanwhile, the Federal Reserve has signaled that it is willing to cut interest rates to stabilize the U.S. economy if the trade dispute crimps growth. That’s helped drive the market’s rebound in June.

“At this point it’s not so much a question about whether the Fed is going to be accommodative or not, it’s just what that magnitude is going to be,” Martin said.

Looking ahead, next week’s G20 summit is likely to be the next big market mover, Martin said.

“That hopefully gives us a little bit more color on the trade situation,” she said.

Technology stocks took some of the heaviest losses Friday, with chipmakers leading the way. Micron Technology dropped 2.6% and Advanced Micro Devices lost 3%.

Industrial stocks also fell. Snap-on dropped 3.7%.

Health care stocks notched solid gains. Humana climbed 4.4%, while UnitedHealth Group added 1.8%.

Communications stocks also rose, with video game publisher Electronic Arts leading the way. The stock gained 2.3%.

Energy stocks climbed for the second day in a row along with the price of crude oil. Baker Hughes gained 3.3% and Valero Energy added 2.7%.

Benchmark crude oil rose 0.6% to settle at $57.43 a barrel. It ended with a 9.2% gain for the week. That’s the biggest weekly gain in more than two years. Only a few weeks ago, the price of U.S. crude was in a correction, what Wall Street calls a drop of at least 20% from a recent peak.

Brent crude oil, the international standard, rose 1.2% to close at $65.20 a barrel.

Used car retailer CarMax rose 3.2% after it blew past Wall Street’s fiscal first quarter profit and revenue forecasts.

Staffing company Korn Ferry plunged 17.5% after reporting weak revenue during its fiscal fourth quarter and issuing a profit forecast that mostly fell short of analysts’ expectations.

In other commodities trading, wholesale gasoline rose 3.9% to $1.86 per gallon. Heating oil climbed 1.7% to $1.92 per gallon. Natural gas was little changed at $2.19 per 1,000 cubic feet.

Gold edged up 0.2% to $1,400.10 per ounce, silver fell 1.3% to $15.29 per ounce and copper fell 0.3% to $2.70 per pound.

The dollar rose to 107.41 Japanese yen from 107.27 yen on Thursday. The euro rose to $1.1369 from $1.1295.

251


----------



## bigdog

The U.S. stock market capped a day of listless trading with modest losses Monday as investors focused on upcoming trade talks between the U.S. and China.

The major stock indexes drifted between small gains and losses for much of the day, though smaller company stocks had their worst day since May. The losses erased some of the market's solid gains from last week, when the benchmark S&P 500 index closed at an all-time high.

The muted trading came as investors looked ahead to a highly anticipated meeting between the leadership of the U.S. and China later this week. The world's two largest economies have been embroiled in a trade war that has taken the market on a volatile roller-coaster ride this year and Wall Street is hoping for a deal.










https://www.usnews.com/news/busines...es-waver-ahead-of-trump-xi-meet-at-osaka-g-20

*US Stock Indexes Finish Mixed Ahead of Trade Talks*
The U.S. stock market capped a day of listless trading with modest losses Monday as investors focused on upcoming trade talks between the U.S. and China.
By Associated Press, Wire Service Content June 24, 2019, at 4:55 p.m. 

By ALEX VEIGA, AP Business Writer

The U.S. stock market capped a day of listless trading with modest losses Monday as investors focused on upcoming trade talks between the U.S. and China.

The major stock indexes drifted between small gains and losses for much of the day, though smaller company stocks had their worst day since May. The losses erased some of the market's solid gains from last week, when the benchmark S&P 500 index closed at an all-time high.

The muted trading came as investors looked ahead to a highly anticipated meeting between the leadership of the U.S. and China later this week. The world's two largest economies have been embroiled in a trade war that has taken the market on a volatile roller-coaster ride this year and Wall Street is hoping for a deal.

"The market right now seems to be pricing in some combination of at least a de-escalation between the U.S. and China from a trade standpoint to the point where it doesn't drive us into a recession," said Michael Crook, head of Americas investment strategy at UBS Global Wealth Management.

The S&P 500 index slipped 5.11 points, or 0.2%, to 2,945.35. The index is about 0.3% below the record high it set on Thursday.

The Dow Jones Industrial Average rose 8.41 points, or less than 0.1%, to 26,727.54. The Nasdaq composite dropped 26.01 points, or 0.3%, to 8,005.70. The Russell 2000 index of smaller companies slid 19.54 points, or 1.3%, to 1,530.08, its biggest single-day loss since May 31.

Major indexes in Europe finished mostly lower.

The market notched its third straight weekly gain last week and is on track for a strong monthly rebound from a steep sell-off in May. The major U.S. stock indexes are up more than 7% so far this month and are holding on to gains of more than 14% for the year.

Investors have been reassured by statements from the Federal Reserve this month that suggest the central bank is prepared to cut interest rates in response to a slowing global economy. Even so, traders remain concerned that corporate profits might suffer should the kind of economic slowdown that would prompt the Fed to cut rates take hold.

Trade policy remains the biggest source of uncertainty looming over the market. Worries about the dispute and its potential impact on global economic growth sent the broader market on a bumpy ride during the second quarter as the tensions escalated.

Presidents Donald Trump and Xi Jinping plan to meet at the Group of 20 summit in Japan, which starts Friday. Wall Street is once again hoping that the two sides can find a path to making a deal that will end their trade war.

The two sides are in a stalemate after 11 rounds of talks that have failed to overcome U.S. concerns over China's acquisition of American technology and its massive trade surplus. China denies forcing U.S. companies to hand over trade secrets and says the surplus is much smaller than it appears.

Health care stocks accounted for a big share of the selling Monday, led by a slide in shares of pharmaceutical giant Bristol-Myers Squibb.

The stock fell after the company said it would divest its blockbuster psoriasis treatment Otezla as part of a push to win regulatory approval for its $74 billion buyout of Celgene. Shares in Bristol-Myers were the biggest decliner in the S&P 500, losing 7.4%. Celgene dropped 5.4%.

Consumer discretionary stocks and banks also helped pull the market lower. Ulta Beauty dropped 2.6% and Capital One Financial dropped 3.1%.

Energy stocks also declined. The sector remains volatile as oil prices fluctuate over concerns about economic growth and rising tensions in the Middle East. Concho Resources fell 3.4%.

Technology companies, consumer goods makers and materials stocks were among the gainers. Western Digital rose 2.5%, Tyson Foods added 1.9% and Newmont Goldcorp gained 2.5%.

Bond prices rose, sending yields lower, as investors continued to shift money into U.S. bonds as a hedge against a possible downturn in the economy or further escalation in trade tensions. The yield on the 10-year Treasury note fell to 2.02% from 2.06% late Friday.

"The pricing in the bond market right now does indicate that it wouldn't take much to create a recession if we had some bad policy mistake either from the Fed or from a trade standpoint," Crook said.

Traders welcomed news that Eldorado Resorts has agreed to buy casino operator Caesars Entertainment in a cash-and-stock deal valued at $17.3 billion.

The deal creates a casino giant with about 60 casinos and resorts in 16 states under a single name. Caesars has been struggling since emerging from bankruptcy in 2017. Billionaire investor Carl Icahn took an enormous stake in the company and pushed for big changes. Caesars surged 14.5% and Eldorado fell 10.6%.

Energy futures finished mixed. Benchmark crude oil rose 47 cents to settle at $57.90 a barrel. Brent crude oil, the international standard, fell 34 cents to close at $64.86 a barrel. Wholesale gasoline fell 1 cent to $1.85 per gallon. Heating oil declined 1 cent to $1.91 per gallon. Natural gas rose 12 cents to $2.30 per 1,000 cubic feet.

Gold rose $18.20 to $1,414.30 per ounce, silver rose 10 cents to $15.37 per ounce and copper was unchanged at $2.71 per pound.

The dollar fell to 107.32 Japanese yen from 107.41 yen on Friday. The euro strengthened to $1.1401 from $1.369.


----------



## bigdog

Technology and internet companies led a broad slide for U.S. stocks Tuesday after discouraging economic data and cautionary remarks from the head of the Federal Reserve weighed on the market.

The sell-off marked the third straight loss for the market and the biggest drop this month for the Dow Jones Industrial Average and the S&P 500 index, which hit an all-time high only last week.

In an early afternoon speech, Fed Chairman Jerome Powell noted that the economic outlook has become cloudier since early May amid uncertainty over trade and global growth. Earlier Tuesday, reports showed a decline in consumer confidence and more weakness in the housing market.











https://www.usnews.com/news/busines...ower-ahead-of-trump-xi-meeting-at-g-20-summit

*Stocks Move Lower on Economic Data, Powell Remarks*
Technology and internet companies led a broad slide for U.S. stocks Tuesday after discouraging economic data and cautionary remarks from the head of the Federal Reserve weighed on the market.
By Associated Press, Wire Service Content June 25, 2019, at 5:11 p.m.

By ALEX VEIGA, AP Business Writer

Technology and internet companies led a broad slide for U.S. stocks Tuesday after discouraging economic data and cautionary remarks from the head of the Federal Reserve weighed on the market.

The sell-off marked the third straight loss for the market and the biggest drop this month for the Dow Jones Industrial Average and the S&P 500 index, which hit an all-time high only last week.

In an early afternoon speech, Fed Chairman Jerome Powell noted that the economic outlook has become cloudier since early May amid uncertainty over trade and global growth. Earlier Tuesday, reports showed a decline in consumer confidence and more weakness in the housing market.

Powell said the Fed is reassessing its interest rate policy, though he did not commit to a rate cut. Separate comments from James Bullard, president of the Fed's St. Louis regional bank, may have put a damper on the market's expectations for big rate cut.

In an interview with Bloomberg Television, Bullard said a half-point rate cut — which many investors have been expecting — would be "overdone," adding that a quarter-point cut would suffice to shield the economy from a slowdown.

"The risk is to the downside if they don't cut (rates) when the markets are fully expecting it," said Randy Frederick, vice president of trading & derivatives at Charles Schwab.

The S&P 500 index fell 27.97 points, or 1%, to 2,917.38. The Dow dropped 179.32 points, or 0.7%, to 26,548.22. The Nasdaq composite, which is heavily weighted with technology stocks, slid 120.98 points, or 1.5%, to 7,884.72.

The Russell 2000 index of smaller company stocks gave up 9.05 points, or 0.6%, to 1,521.04.

The market is coming off its third straight weekly gain. The benchmark S&P 500 index is about 1.3% below the record high it set on Thursday.

Prior statements from Fed officials have raised investors' expectations that the central bank will cut rates as early as next month in response to a slowing global economy. That expectation sparked a rally in the first three weeks of June that wiped out the market's losses from a steep sell-off in May.

But traders have grown cautious this week. Trade policy remains the biggest source of uncertainty looming over the market. Investors are worried about the trade dispute between the U.S. and China and its potential impact on global economic growth and corporate profits.

Presidents Donald Trump and Xi Jinping will meet this week at the Group of 20 meeting of major economies in Japan. The world's two largest economies spent much of the current quarter escalating their trade war and giving Wall Street jitters over prospects for economic growth.

"You could almost tie every piece of weakening economic data, whether it's domestic or global, back either directly or indirectly to this trade issue," Frederick said. "What the whole global economy needs is some certainty on trade, but what we're doing is we're trying to treat it by cutting interest rates."

Investors are also looking ahead to next month, when many investors expect the Fed to cut rates.

On Tuesday, Powell reiterated that the central bank is ready to "act as appropriate" to keep the economy growing, though the remarks failed to give the market a boost.

"The expectations pretty quickly over the last few months went from looking at probably another rate hike to expecting actually a cut," said Craig Birk, chief investment officer at Personal Capital. "Powell and the Fed are trying to communicate that they do want to remain data-driven and that nothing's certain yet."

Fed actions aside, traders remain concerned that corporate profits might suffer should the kind of economic slowdown that would prompt the Fed to cut rates take hold.

On Tuesday, the Conference Board said that U.S. consumer confidence dropped to its lowest level in more than 18 months. Two other reports showed home price gains slowed for the 13th straight month in April and sales of new U.S. homes slumped in May.

Homebuilders fell broadly as investors weighed the latest housing data. Lennar led the pack, after the builder said a conference call with analysts that tariffs on Chinese goods were adding an average of $500 to the cost of each new home. The stock dropped 6.2%.

Among other homebuilders, PulteGroup fell 2.4% and D.R. Horton dropped 3.9%.

Technology and internet stocks led the losses Tuesday. Microsoft fell 3.2% and Facebook fell 2%. FedEx dropped 3.1% and weighed down industrial stocks.

Bond prices rose, sending yields lower, as investors shifted money into U.S. bonds as a hedge against a possible downturn in the economy or further escalation in trade tensions. The yield on the 10-year Treasury note fell to 1.99% from 2.02% late Monday.

Banks and other financial companies declined as yields fell. Lower bond yields hurt a bank's ability to charge higher interest on loans. Citigroup slid 1.3%.

A surge in the share price of Botox maker Allergan helped stem the losses in health care stocks. The company vaulted 25.4% on news that it is being bought by drug developer AbbVie for around $63 billion. AbbVie slumped 16.3%.

Major stock indexes in Europe finished mostly lower Tuesday.

Energy futures closed mostly higher. Benchmark crude oil fell 7 cents to settle at $57.83 a barrel. Brent crude oil, the international standard, rose 19 cents to close at $65.05 a barrel. Wholesale gasoline rose 2 cents to $1.87 per gallon. Heating oil climbed 1 cent to $1.92 per gallon. Natural gas rose 1 cent to $2.31 per 1,000 cubic feet.

Gold rose 60 cents to $1,414.90 per ounce, silver rose 92 cents to $15.29 per ounce and copper rose 3 cents to $2.74 per pound.

The dollar fell to 107.12 Japanese yen from 107.32 yen on Monday. The euro weakened to $1.1373 from $1.1401.


----------



## bigdog

Stocks closed slightly lower on Wall Street Wednesday after an early rally fueled by optimism over the next round of trade talks between the U.S. and China lost momentum toward the end of the day.

The wobbly finish extended the S&P 500 index's losing streak to a fourth straight day, though the market is still on track to end the month with solid gains.

Losses in health care stocks, consumer goods makers and utilities offset solid gains in technology sector companies.











https://www.usnews.com/news/busines...ostly-lower-as-investors-look-to-g-20-meeting

*Stocks Indexes End Mostly Lower After Early Rally Fades*
Stocks closed slightly lower after an early rally fueled by optimism over the next round of trade talks between the U.S. and China lost momentum.
By Associated Press, Wire Service Content June 26, 2019, at 5:09 p.m. 

By ALEX VEIGA, AP Business Writer

Stocks closed slightly lower on Wall Street Wednesday after an early rally fueled by optimism over the next round of trade talks between the U.S. and China lost momentum toward the end of the day.

The wobbly finish extended the S&P 500 index's losing streak to a fourth straight day, though the market is still on track to end the month with solid gains.

Losses in health care stocks, consumer goods makers and utilities offset solid gains in technology sector companies.

Stocks climbed in the morning after U.S. Treasury Secretary Steven Mnuchin told CNBC that a trade deal between the two nations was "about 90%" done during recent negotiations. President Donald Trump and Chinese President Xi Jinping are scheduled to meet at the G-20 summit this weekend and investors hope that talks will yield progress toward an agreement to resolve the costly trade war.

Initial optimism over the possibility of progress on trade helped drive up shares in technology stocks, particularly chipmakers. The sector is especially vulnerable to trade disruptions with China, the world's second largest economy.

The rally began to fade by midafternoon, however, as other sectors piled up losses.

"The market has pulled back its expectations in terms of when an agreement will be signed and is just focusing on whether or not they can continue on a viable path toward constructive negotiations," said Quincy Krosby, chief market strategist at Prudential Financial.

The S&P 500 index dropped 3.60 points, or 0.1%, to 2,913.78. The Dow Jones Industrial Average fell 11.40 points, or less than 0.1%, to 26,536.82. The index had been up as much as 111 points.

The Nasdaq composite, heavily weighted with technology stocks, gained 25.25 points, or 0.3%, to 7,909.97. The Russell 2000 index of smaller company stocks fell 3.26 points, or 0.2%, to 1,517.78.

The market is on track to end June with solid gains that have reversed most of the losses from a big sell-off in May. Investors pushed stocks higher through much of this month as they welcomed indications from the Federal Reserve that it will cut interest rates to keep the economy growing. The trend sent the benchmark S&P 500 index to an all-time high last week.

Worries of an economic slowdown have also prompted traders to shift money into less risky assets, such as U.S. government bonds and gold, which is on track for a 7.8% gain this month.

The multiple trade disputes between the U.S. and other nations, most prominently China, remain the biggest source of uncertainty looming over Wall Street.

This week's G-20 meeting in Osaka, Japan, is the first opportunity Trump and Xi have had to discuss their differences on trade face-to-face since Trump said he was preparing to target the $300 billion in Chinese imports that he hasn't already hit with tariffs, extending them to everything China ships to the United States.

"The market does not want to see that they leave the G-20 meeting and there's no hope, no chance for negotiations," Krosby said.

The two sides are in a stalemate after 11 rounds of talks that have failed to overcome U.S. concerns over China's acquisition of American technology and its massive trade surplus. China denies forcing U.S. companies to hand over trade secrets and says the surplus is much smaller than it appears once the trade in services and the value extracted by U.S. companies are taken into account.

How the trade war develops could affect whether central banks move to support their economies. Fed Chairman Jerome Powell this week noted that the economic outlook has become cloudier since early May amid uncertainty over trade and global growth. The Fed and the European Central Bank have indicated they are open to cutting interest rates if needed.

Investors are worried the fallout from the tariffs could hurt global economic growth and corporate profits. Already, analysts are projecting that second quarter earnings for S&P 500 companies will be down 1.2%, according to FactSet.

"You're headed into earnings season and there are real questions about what is the second quarter story going to have been in the face of what's turning into a pretty tough environment," said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. "The unanswered question for us is: Are tariffs worse than people think or not? Is the Fed having to help out because things are a little worse than we expected?"

Health care stocks were the biggest drag on the market Wednesday, with drugmakers leading the way lower for the sector. Eli Lilly dropped 3.5% and Nektar Therapeutics slid 3.8%.

Consumer products companies were also big decliners. General Mills slumped after the packaged foods maker reported weak sales trends in North America. The stock was the biggest loser in the S&P 500, falling 4.5%.

Even after losing some strength, technology companies led the gainers. Micron Technology notched the biggest gain in the S&P 500 after the chipmaker forecast improved demand for smartphone chips the rest of the year. The stock jumped 13.3%. Other chipmakers also rose. Advanced Micro Devices climbed 3.7% and Nvidia gained 5.1%.

Energy stocks rose along with the price of U.S. crude oil. Hess gained 5.1% and ConocoPhillips added 5%.

Benchmark crude oil rose $1.55 to settle at $59.38 a barrel. Brent crude oil, the international standard, rose $1.44 to close at $66.49 a barrel.

The televised Democratic presidential candidate debates on Wednesday and Thursday evening may weigh on health care stocks.

Many of the candidates have been arguing for expanding Medicare to cover uninsured Americans of all ages or some other form of universal health care coverage that would run counter to the current private insurance market.

"If 'Medicare For All' does not get a lot of air time or if other candidates criticize the proposal, we think that will be a positive for the market," Raymond James analyst Chris Meekins wrote in a research note Wednesday.

Several health care providers were trading lower ahead of the first debate. UnitedHealth Group slid 1.7%, Anthem dropped 2.2% and Centene lost 3.5%.

Major stock indexes in Europe were mostly lower Wednesday.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.05% from 1.99% late Tuesday.

In other commodities trading, wholesale gasoline rose 10 cents to $1.97 per gallon. Heating oil climbed 5 cents to $1.97 per gallon. Natural gas fell 2 cents to $2.29 per 1,000 cubic feet.

Gold rose $1.60 to $1,413.30 per ounce, silver rose 99 cents to $15.28 per ounce and copper fell 3 cents to $2.71 per pound.

The dollar rose to 107.83 Japanese yen from 107.12 yen on Tuesday. The euro weakened to $1.1370 from $1.1373.


----------



## bigdog

Banks and health care companies led stocks broadly higher on Wall Street Thursday, ending a four-day losing streak for the benchmark S&P 500 index.

The gains after a mostly wobbly week of trading reflect cautious optimism on the part of investors ahead of a key trade meeting between President Donald Trump and President Xi Jinping of China set for this weekend.

The trade war between the world's two biggest economies remains the biggest source of uncertainty looming over Wall Street. Investors are worried the fallout from the tariffs imposed by both countries on each other's goods could hurt global economic growth and corporate profits.










https://www.usnews.com/news/busines...rise-as-investors-push-to-break-losing-streak

*S&P 500 Snaps 4-Day Losing Streak in Broad Rally*
Banks and health care companies led stocks broadly higher on Wall Street Thursday, ending a four-day losing streak for the benchmark S&P 500 index.
By Associated Press, Wire Service Content June 27, 2019, at 5:03 p.m. 

By ALEX VEIGA, AP Business Writer

Banks and health care companies led stocks broadly higher on Wall Street Thursday, ending a four-day losing streak for the benchmark S&P 500 index.

The gains after a mostly wobbly week of trading reflect cautious optimism on the part of investors ahead of a key trade meeting between President Donald Trump and President Xi Jinping of China set for this weekend.

The trade war between the world's two biggest economies remains the biggest source of uncertainty looming over Wall Street. Investors are worried the fallout from the tariffs imposed by both countries on each other's goods could hurt global economic growth and corporate profits.

"Investors are in a wait-and-see mode in advance of the G-20 meetings," said Kate Warne, investment strategist at Edward Jones. "The reason we're seeing stocks slightly higher today is they're anticipating that Trump and Xi will at least agree not to impose additional tariffs."

The S&P 500 index rose 11.14 points, or 0.4%, to 2,924.92. The index is up 6.3% for the month, with only one day left of trading in June.

The Dow Jones Industrial Average slipped 10.24 points, or less than 0.1%, to 26,526.58. The Nasdaq composite gained 57.79, or 0.7%, to 7,967.76. Smaller company stocks did far better than the rest of the market. The Russell 2000 index of smaller company stocks climbed 28.78 points, or 1.9%, to 1,546.55.

Major indexes in Europe ended mixed.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.01% from 2.04% late Wednesday.

The market's trajectory has been wobbly for much of this week, often starting strong and then losing momentum toward the end of trading. Investors have been mostly looking ahead to this weekend's meeting between Trump and Xi at the Group of 20 summit in Japan.

The meeting marks the first opportunity the two leaders have had to discuss their differences on trade face-to-face since Trump said he was preparing to target the $300 billion in Chinese imports that he hasn't already hit with tariffs, extending them to everything China ships to the United States.

The two sides are in a stalemate after 11 rounds of talks that have failed to overcome U.S. concerns over China's acquisition of American technology and its massive trade surplus. China denies forcing U.S. companies to hand over trade secrets and says the surplus is much smaller than it appears once the trade in services and the value extracted by U.S. companies are taken into account.

Investors are hoping that the meeting between Trump and Xi will restart trade negotiations between the two countries.

Despite worries over trade, investors have mostly pushed stocks higher this month as the Federal Reserve raised expectations that it is prepared to cut interest rates if needed to shield the economy should the damage from the costly trade conflict worsen.

Every major index is on track to register gains of more than 6% for the month, despite having declined roughly 1% so far this week.

Banks were the biggest gainers Thursday. Bank of America and Wells Fargo each rose 1.1%.

Health care stocks gained momentum throughout the day. AbbVie climbed 2.9%, one of the biggest gainers in the sector. The company is in the process of buying Botox maker Allergan for $63 billion. Other health care stocks also rose. CVS Health gained 1.9% and Humana picked up 1.2%.

Traders signaled a greater appetite for risk by snapping up stocks known for higher growth, including smaller company stocks.

"Any resolution of some of the (trade) uncertainties would generally be more positive for small caps because they tend to be riskier and investors are feeling a little more comfortable that they can take a bit more risk in their portfolios," Warne said.

Technology stocks also rose. Chipmakers, which have much to gain or lose from the result of the U.S.-China trade negotiations, were particularly strong. Micron Technology climbed 2.8% and Nvidia rose 2.5%.

Utilities and makers of consumer products eked out small gains in another sign that investors were shifting away from safe-play holdings.

Energy stocks lagged the broader market. ConocoPhillips slid 2.4%.

Boeing helped pull the Dow into the red after the airplane maker said a new software problem has been found in its troubled 737 Max aircraft.

Government test pilots trying out Boeing's updated Max software in a flight simulator last week found a flaw that could result in the plane's nose pitching down. The aircraft has been grounded worldwide after crashes in Indonesia and Ethiopia killed 346 people. The company is also facing calls for more pilot training on the aircraft, which could be costly. Boeing shares slid 2.9%.

A report showing that more Americans signed contracts to buy a home in May than in the previous month helped spur a broad rally in homebuilders. The data signal that would-be homebuyers may be ready to take advantage of low interest rates and stabilizing home prices. Builder New Home Co. led the pack, vaulting 11.1%.

KB Home jumped 7.9% after the homebuilder blew past Wall Street's profit forecasts for its fiscal second quarter.

The company reported growth in orders for new homes. KB and its peers have also reported a slight decrease in home prices, which also helps potential homebuyers.

Chef Boyardee and Peter Pan peanut butter maker Conagra Brands slumped 12.1%, the biggest decliner in the S&P 500, after its latest quarterly results fell short of Wall Street's expectations.

The company, which makes a wide range of food products, has been struggling along with other large processed food makers to compete amid shifting consumer trends to seemingly healthier food options.

In commodities trading, Benchmark crude oil rose 5 cents to settle at $59.43 a barrel. Brent crude oil, the international standard, rose 6 cents to close at $66.55 a barrel. Wholesale gasoline fell 2 cents to $1.95 per gallon. Heating oil declined 2 cents to $1.95 per gallon. Natural gas climbed 6 cents to $2.32 per 1,000 cubic feet.

Gold fell $3.10 to $1,408.40 per ounce, silver fell 9 cents to $15.21 per ounce and copper was unchanged at $2.71 per pound.

The dollar fell to 107.76 Japanese yen from 107.83 yen on Wednesday. The euro strengthened to $1.1373 from $1.1370.


----------



## bigdog

Wall Street ended a wobbly week with broad gains Friday, closing the books on June with its biggest monthly gain since January.

June marked a sharp about-face from May, when traders fled to safer holdings because of increased anxiety over the trade war between the U.S. and China, and signs of slowing global economic growth.

Despite lingering worries over trade, investors pushed stocks higher for much of this month after the Federal Reserve raised expectations that it is prepared to cut interest rates if needed to keep the economy growing. That drove the benchmark S&P 500 to an all-time high last week, though it has retreated slightly from that mark.











https://www.usnews.com/news/busines...stocks-sink-ahead-of-trump-xi-meeting-at-g-20

*Stocks Close Out Rocky Quarter With Solid Gains*
Wall Street ended a wobbly week with broad gains Friday, closing the books on June with its biggest monthly gain since January.
By Associated Press, Wire Service Content June 28, 2019, at 5:16 p.m

By ALEX VEIGA, AP Business Writer

Wall Street ended a wobbly week with broad gains Friday, closing the books on June with its biggest monthly gain since January.

June marked a sharp about-face from May, when traders fled to safer holdings because of increased anxiety over the trade war between the U.S. and China, and signs of slowing global economic growth.

Despite lingering worries over trade, investors pushed stocks higher for much of this month after the Federal Reserve raised expectations that it is prepared to cut interest rates if needed to keep the economy growing. That drove the benchmark S&P 500 to an all-time high last week, though it has retreated slightly from that mark.

Even after the roller-coaster quarter, investors are in good shape so far this year. The S&P 500 is up 17.3% and the technology-heavy Nasdaq has gained 20.7%.

"It hasn't been maybe as healthy a rally as we saw in the first (quarter)," said Brian Nick, chief investment strategist at Nuveen. "When you look back 10 years from now it's not going to look like the sort of volatile period where we had this good April, terrible May, and good June. It's just going to look like a quarter where you know you made money in stocks, you made money in bonds."

On Friday, the S&P 500 index rose 16.84 points, or 0.6%, to 2,941.76. The index ended the month with a 6.9% gain.

The Dow Jones Industrial Average gained 73.38 points, or 0.3%, to 26,599.96. The Nasdaq composite rose 38.49 points, or 0.5%, to 8,006.24.

Smaller company stocks were big gainers for the second straight day. The Russell 2000 index climbed 20.02 points, or 1.3%, to 1,566.57.

Every major index finished the week with a loss, but ended June with solid gains.

Bond prices were little changed. The yield on the 10-year Treasury note held at 2%.

The market ended the final week of June with a two-day winning streak. A wave of selling swept over the market earlier in the week as traders shifted money to less risky holdings like U.S. government bonds while remaining cautiously optimistic about this weekend's meeting between President Donald Trump and President Xi Jinping of China.

The meeting, set to take place in Japan, will mark the first time the two leaders meet since the trade war escalated following 11 rounds of negotiations.

Investors are hoping the talks put the world's two biggest economies on track to resolve their trade dispute, which has led to costly tariffs imposed by both countries on each other's goods. Wall Street is worried the fallout from the tariffs could hurt global economic growth and corporate profits. The dispute has prompted the Federal Reserve to say it is willing to cut interest rates if the dispute hurts the U.S. economy.

"Investors need to recognize that the trade situation is unlikely to improve," said Kristina Hooper, chief global market strategist at Invesco. "The best we can hope for is an agreement to continue talks."

Banks led the way higher Friday after the Federal Reserve late Thursday approved plans by the country's 18 biggest banks to return more money to shareholders. The approvals were part of the Fed's annual checkup of the banking system. JPMorgan Chase rose 2.7% and Bank of America climbed 2.8%.

Industrial and energy stocks also notched strong gains. Union Pacific rose 1.9% while oil companies including Chevron and Exxon rose.

Constellation Brands climbed 4.6% after the wine and beer company raised its profit forecast for the year following a blowout fiscal first quarter financial report. Constellation recently sold some of its lower-end wines as it focuses more on its premium wine options and its beer sales.

Secondhand-fashion online retailer RealReal jumped on its first day of trading. The company, which offers a marketplace for discounted Gucci and other luxury goods, surged 44.5% after its IPO hit the market at $20 per share.

Major stock indexes in Europe rose, while energy futures closed mostly lower.

Benchmark crude oil fell 96 cents to settle at $58.47 a barrel. Brent crude, the international standard, held steady at $66.55 a barrel. Wholesale gasoline slid 3 cents to $1.92 per gallon. Heating oil declined 2 cents to $1.93 per gallon. Natural gas fell 1 cent to $2.31 per 1,000 cubic feet.

Gold rose $1.30 to $1,409.70 per ounce, silver added 5 cents to $15.25 per ounce and copper was unchanged at $2.71 per pound.

The dollar rose to 107.78 Japanese yen from 107.76 yen on Thursday. The euro strengthened to $1.1378 from $1.1373.

803


----------



## bigdog

Wall Street kicked off July with a record high for S&P 500 index after a cease-fire in the U.S. trade war with China put investors in a buying mood.

The milestone marks the second time in less than two weeks that the benchmark index closed at a record high. The S&P 500 is now up 18.3% for the year.

The broad rally came after the world's two biggest economies agreed over the weekend to resume negotiations. The truce, which involves the U.S. holding off on imposing new tariffs on $300 billion in Chinese goods, gave financial markets reason to breathe a little easier.

The new tariffs would have come on top of existing tariffs that remain in place. Investors have been worried the fallout from the tariffs could hurt global economic growth and corporate profits. Those concerns prompted the Federal Reserve last month to declare its willingness to cut interest rates if the dispute hurts the U.S. economy.










https://www.usnews.com/news/busines...rise-on-hopes-for-us-china-trade-negotiations

*S&P 500 Hits All-Time as US-China Trade Truce Spurs Optimism*
Wall Street kicked off July with a record high for S&P 500 index after a cease-fire in the U.S. trade war with China put Wall Street in a buying mood.
By Associated Press, Wire Service Content July 1, 2019, at 5:15 p.m.

By ALEX VEIGA, AP Business Writer

Wall Street kicked off July with a record high for S&P 500 index after a cease-fire in the U.S. trade war with China put investors in a buying mood.

The milestone marks the second time in less than two weeks that the benchmark index closed at a record high. The S&P 500 is now up 18.3% for the year.

The broad rally came after the world's two biggest economies agreed over the weekend to resume negotiations. The truce, which involves the U.S. holding off on imposing new tariffs on $300 billion in Chinese goods, gave financial markets reason to breathe a little easier.

The new tariffs would have come on top of existing tariffs that remain in place. Investors have been worried the fallout from the tariffs could hurt global economic growth and corporate profits. Those concerns prompted the Federal Reserve last month to declare its willingness to cut interest rates if the dispute hurts the U.S. economy.

"It's really a de-escalation of the tough talk we've heard from both sides on tariffs," said Jeff Zipper, managing director at U.S. Bank Private Wealth Management. "It's basically kicking the can down the road with some more optimism that a deal is going to get done and negotiations are going to continue."

The S&P 500 index rose 22.57, or 0.8%, to 2,964.33. The index last set a record high on June 20.

The Dow Jones Industrial Average gained 117.47 points, or 0.4%, to 26,717.43. The Dow had been up 290 points. The Nasdaq composite rose 84.92 points, or 1.1%, to 8,091.16.

The Russell 2000 index of smaller company stocks added 3.09 points, or 0.2%, to 1,569.66.

The truce between the U.S. and China, along with some upbeat economic data, also helped push global shares higher.

Presidents Donald Trump and Xi Jinping hit the reset button in their trade negotiations over the weekend at the Group of 20 meeting in Osaka, Japan. On Saturday, Trump said the U.S. would hold off for the "time being" plans to impose new tariffs on $300 billion in Chinese goods.

The move still leaves 25% import taxes imposed by the U.S. on $250 billon of Chinese imports in place, however. And China maintains the tariffs it placed on $110 billion in American goods, primarily agricultural products.

Trump also said he would allow U.S. companies to sell some components to Chinese telecommunications giant Huawei, which last month was placed on an American blacklist as a threat to national security.

Wall Street's gains in the first half of the year were marked by months of volatile trading as investors rode the ups and downs of the trade war. That volatility is unlikely to fade as the U.S. and China head into yet another round of trade talks.

The market also had a bounce back in December when both sides agreed to more talks and negotiations seemed on track. That rally quickly faded as investors complained the agreement didn't resolve the core issues in the dispute.

The key difference this time around is the Federal Reserve. In December, the Fed spooked investors by raising interest rates for the seventh time in two years. Now, the central bank has said it is willing to cut rates in order to shore up the U.S. economy if the trade war crimps growth in what is now the longest economic expansion in U.S. history.

"The Federal Reserve is key here," Zipper said. "You're going to need the Fed to follow through on these rate cuts for the market to go higher."

Technology stocks and banks accounted for much of the gains Monday as traders turned their backs on more defensive holdings, pushing bond and gold prices lower. Utilities and real estate stocks lagged the market in another sign that Wall Street had a bigger appetite for risk.

Chipmakers rallied on plans by the U.S. to loosen some restrictions on sales to Huawei. Broadcom climbed 4.3% and Micron Technology gained 3.9%. Technology giants Apple and Microsoft also rose.

Among financial services companies, Bank of America rose 1.4% and JPMorgan Chase gained 1.7%. Consumer product makers and other consumer companies also rose. Many of those companies, including Nike, have much to gain or lose in the ongoing trade dispute.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.03% from 2% late Friday.

Rising oil prices gave energy sector stocks a modest boost after OPEC agreed to extend current production levels for nine months. Baker Hughes gained 2.2% and ConocoPhillips added 2.1%.

The oil cartel faces weakening demand as global economic growth slows. The current deal to cut production is meant to help reduce oversupply and push prices higher.

Benchmark crude oil rose 62 cents to settle at $59.09 a barrel. Brent crude, the international standard, added 32 cent to close at $65.06 a barrel.

Wholesale gasoline gained 0.3 cents to $1.93 per gallon. Heating oil rose 1 cent to $1.95 per gallon. Natural gas fell 4 cents to $2.27 per 1,000 cubic feet.

Gold fell $24.40 to $1,389.30 per ounce, silver slid 15 cents to $15.19 per ounce and copper dropped 3 cents to $2.69 per pound.

The dollar rose to 108.46 Japanese yen from 107.78 yen on Friday. The euro weakened to $1.1286 from $1.1378.


----------



## bigdog

Stocks shook off an early wobble to eke out small gains Tuesday, nudging the S&P 500 index to an all-time high for the second straight day.

Communications services, technology and consumer goods companies helped push the market higher. Those gains outweighed losses in energy and financial stocks and elsewhere.

Trading was subdued ahead of the Independence Day holiday in the U.S. Thursday. Markets will close early on Wednesday.

Investors drove a strong comeback in stocks last month and have continued to do so this week on expectations that the Federal Reserve will cut interest rates amid signs of a slowing global economy and uncertainty over multiple U.S. trade disputes.










https://www.usnews.com/news/busines...-rise-after-wall-street-record-on-trade-truce

*US Stocks Rebound to Nudge the S&P 500 to Record High Again*
Stocks shook off an early wobble to eke out small gains Tuesday, nudging the S&P 500 index to an all-time high for the second straight day.
By Associated Press, Wire Service Content July 2, 2019, at 5:00 p.m. 

By ALEX VEIGA, AP Business Writer

Stocks shook off an early wobble to eke out small gains Tuesday, nudging the S&P 500 index to an all-time high for the second straight day.

Communications services, technology and consumer goods companies helped push the market higher. Those gains outweighed losses in energy and financial stocks and elsewhere.

Trading was subdued ahead of the Independence Day holiday in the U.S. Thursday. Markets will close early on Wednesday.

Investors drove a strong comeback in stocks last month and have continued to do so this week on expectations that the Federal Reserve will cut interest rates amid signs of a slowing global economy and uncertainty over multiple U.S. trade disputes.

Traders are waiting to see what will come from the latest truce in the U.S.-China trade war. They're also looking ahead to a key government jobs report due out Friday, among other potential market-moving developments in the next few weeks.

"With everyone trying to figure out what the next step is going to be in terms of what the Fed is going to do and how strong the economy is, we're kind of in a void here today," said Willie Delwiche, investment strategist at Baird.

After barely budging for much of the day, the S&P 500 rose 8.68 points, or 0.3%, to 2,973.01. That's the benchmark index's seventh record high this year.

The Dow Jones Industrial Average gained 69.25 points, or 0.3%, to 26,786.68. The Nasdaq composite added 17.93 points, or 0.2%, to 8,109.09.

Small-company stocks fell, sending the Russell 2000 index down 9.13 points, or 0.6%, to 1,560.54.

Major stock indexes in Europe finished higher.

Wall Street's gains in the first half of the year were marked by months of volatile trading as investors rode the ups and downs of the trade war. That volatility is unlikely to fade as Washington and Beijing move forward with another round of negotiations.

Presidents Donald Trump and Xi Jinping of China agreed over the weekend to resume trade talks. The United States also agreed not to impose additional tariffs on the world's second-largest economy.

The detente is good news for markets, but tariffs in place have already hurt global economic growth, and investors see that the two sides still face the same differences that caused talks to break down earlier.

"Yesterday's optimism in equity markets is beginning to look a little over-eager, with some already drawing worrying parallels to the November 2018 G-20 summit, which was followed up by a dramatic fall for equities," said Chris Beauchamp, chief market analyst at IG.

Companies are lining up to tell investors in upcoming weeks how much profit they made during the spring. Expectations are generally low, and this could be the first time in three years that S&P 500 companies report a back-to-back decline in overall earnings, according to FactSet.

Besides the government's latest monthly tally of hiring on Friday and the beginning of the next earnings reporting season, the next big milestone for markets may be the Federal Reserve's meeting at the end of July. There, many investors expect the Fed to cut interest rates for the first time since the Great Recession in 2008 in the face of slowing economic momentum around the world.

Communications, technology and consumer goods makers accounted for much of the market's gains Tuesday. Verizon rose 2.6%, Cisco Systems gained 2% and Philip Morris International added 2.3%.

Energy stocks fell broadly after U.S. crude oil prices slid nearly 5% a day after OPEC agreed to extend a cut in production levels for nine months. Marathon Oil dropped 4.9% and Concho Resources lost 4.3%.

The yield on the 10-year Treasury note fell to 1.97% from 2.03% late Monday. The yield is now close to its lowest level since the 2016 election. Yields have been falling since last autumn on worries about a slowing economy and as expectations have climbed for a rate cut by the Federal Reserve.

The slide in bond yields weighed on financial stocks. When yields decline they push down interest rates that banks charge for mortgages and other loans, cutting into their profits. Comerica dropped 3.3% and SunTrust Banks fell 1.6%.

Lighting company Acuity Brands sank 7.8% despite reporting stronger profit for its latest quarter than analysts expected. Revenue was below expectations, and the company cited "ongoing angst generated by trade policy issues" in the market.

Delta Air Lines climbed 1.3% after it gave a profit forecast for the just-completed quarter that was stronger than analysts had been expecting. The carrier said revenue during the quarter was at the high end of its initial expectations, while costs outside of fuel were up just 1% to 2%.

In commodities trading, benchmark crude oil fell $2.84 to settle at $56.25 a barrel. Brent crude, the international standard, lost $2.66 to close at $62.40 a barrel.

Wholesale gasoline fell 6 cents to $1.87 per gallon. Heating oil dropped 7 cents to $1.89 per gallon. Natural gas slid 3 cents to $2.24 per 1,000 cubic feet.

The price of gold rose $18.70 to $1,408 per ounce, silver gained 5 cents to $15.15 per ounce and copper dropped 2 cents to $2.66 per pound.


----------



## bigdog

*Markets closed early on Wednesday ahead of the Independence Day holiday in the U.S. Thursday.*

Investors extended a rally through a holiday-shortened day and pushed the S&P 500 index to its third straight record high close on Wednesday. Other major indexes also closed at record highs.

The rally follows a slight easing of trade tensions between the U.S. and China. Both nations have agreed to refrain from new tariffs while they open a new round of negotiations. The development relieved some pressure on the market, though the trade war still looms over global economic growth.

The S&P 500 rose 22.81 points, or 0.8%, to close at 2,995.82. The third record high close in as many days also pushed the index closer to breaching the 3,000 mark.

The Dow Jones Industrial Average also reached a record, gaining 179.32 points, or 0.7%, to close at 26,966.










https://www.usnews.com/news/busines...-mostly-lower-after-fresh-s-p-500-record-high

*S&P 500, Dow Industrials and Nasdaq Close at Record Highs*
U.S. stocks closed broadly higher on Wednesday and reached a third record high in as many days.
By Associated Press, Wire Service Content July 3, 2019, at 3:12 p.m.

By DAMIAN J. TROISE, AP Business Writer

NEW YORK (AP) — Investors extended a rally through a holiday-shortened day and pushed the S&P 500 index to its third straight record high close on Wednesday. Other major indexes also closed at record highs.

The rally follows a slight easing of trade tensions between the U.S. and China. Both nations have agreed to refrain from new tariffs while they open a new round of negotiations. The development relieved some pressure on the market, though the trade war still looms over global economic growth.

The S&P 500 rose 22.81 points, or 0.8%, to close at 2,995.82. The third record high close in as many days also pushed the index closer to breaching the 3,000 mark.

The Dow Jones Industrial Average also reached a record, gaining 179.32 points, or 0.7%, to close at 26,966.

Technology stocks led the gains, helping the tech-heavy Nasdaq composite join the record-breaking club. The Nasdaq rose 61.14 points, or 0.8%, to 8,170.23.

"Clearly the trade truce with China has been a catalyst for the market even though there remain uncertainties," said Quincy Krosby, chief market strategist at Prudential Financial.

Technology companies, which tend to do a lot of business with China, have been particularly sensitive to the trade war between the U.S. and China. The sector has been broadly higher this week.

Cybersecurity software company Symantec surged 13.6% and did much of the heavy lifting on Wednesday as media reports suggest it is considering a sale to chipmaker Broadcom. Microsoft and Apple also made gains.

A broad mix of health care companies lifted that sector. Johnson & Johnson rose 1.5% and Merck rose 1.6%.

Communications and internet companies were also among the biggest gainers, with strong pushes from Facebook and Netflix.

Tesla rose 4.6% after telling investors that it delivered more electric cars in the second quarter than any three-month period in its history. The upbeat trading comes as the electric car maker struggles to meet production promises and to consistently make money.

Every sector in the S&P 500 made gains.

The records are adding to a yearlong rally. The S&P 500 is up more than 19% so far, while the Dow is up more than 15%. The Nasdaq is now up 23% for the year.

The market will be closed Thursday for the Independence Day holiday.

Investors will be on the lookout for the government's closely watched monthly jobs report scheduled for Friday. The results of that report will likely be a factor in the Federal Reserve's meeting later this month. The central bank has already said it is prepared to cut rates to shore up the U.S. economy if trade disputes crimp growth.

"The market is going to expect a rate cut if there is a weak report," Krosby said.

The yield on the 10-year Treasury note fell to 1.95% from 1.97% Tuesday.

In commodities trading, benchmark crude oil rose $1.09 to settle at $57.34 a barrel. Brent crude, the international standard, rose $1.42 to close at $63.82 a barrel.

Wholesale gasoline rose 5 cents to $1.92 per gallon. Heating oil rose 1 cent to $1.90 per gallon. Natural gas added 5 cents to $2.29 per 1,000 cubic feet.

The dollar rose to 107.87 Japanese yen from 107.84 yen on Friday. The euro fell to $1.1278 from $1.1291.


----------



## bigdog

Global stock markets traded in narrow ranges on Thursday, a day after major U.S. indexes hit record highs in a pre-Independence Day rally amid ongoing hopes over an easing of trade tensions between the U.S. and China.

With Wall Street trading closed for the July 4 holiday, investors will be looking ahead to the U.S. government's closely watched monthly jobs report on Friday. The markets expect a solid 165,000 increase in non-farm payrolls. The outcome will likely be a factor in the Federal Reserve's meeting this month. The central bank has already said it is prepared to cut rates to shore up the U.S. economy if trade disputes crimp growth.


*Independence Day holiday in the U.S. Thursday.





Rest of market





https://www.usnews.com/news/busines...es-mixed-after-us-benchmarks-hit-record-highs

With US Closed, Global Markets Tread Water Ahead of Payrolls*
Global stock markets traded in narrow ranges on Thursday, a day after major U.S. indexes hit record highs in a pre-Independence Day rally amid ongoing hopes over an easing of trade tensions between the U.S. and China.
By Associated Press, Wire Service Content July 4, 2019, at 12:11 p.m.

By The Associated Press

LONDON (AP) — Global stock markets traded in narrow ranges on Thursday, a day after major U.S. indexes hit record highs in a pre-Independence Day rally amid ongoing hopes over an easing of trade tensions between the U.S. and China.

With Wall Street trading closed for the July 4 holiday, investors will be looking ahead to the U.S. government's closely watched monthly jobs report on Friday. The markets expect a solid 165,000 increase in non-farm payrolls. The outcome will likely be a factor in the Federal Reserve's meeting this month. The central bank has already said it is prepared to cut rates to shore up the U.S. economy if trade disputes crimp growth.

"The tranquility is unlikely to last, with tomorrow's non-farm payroll almost bound to inject volatility back into the markets," said Fiona Cincotta, senior market analyst at City Index.

In Europe, Germany's DAX closed up 0.1% at 12,629.90, while the CAC 40 in France was roughly flat at 5,620.73. Britain's FTSE 100 closed down 0.1% at 7,603.58.

Earlier in Asia, Japan's Nikkei 225 index added 0.3% to 21,702.45 and South Korea's Kospi rebounded, gaining 0.5% to 2,108.73. The S&P ASX 200 in Australia rose 0.6% to 6,718.00. The Shanghai Composite index gave up earlier gains, slipping 0.3% to 3,005.25. In Hong Kong, the Hang Seng shed 0.2% lower to 28,795.77. India's Sensex added 0.2% to 39,901.45.

Whatever materializes on the jobs front, the main driver for markets over the coming weeks will be what happens on the trade front. Last weekend's agreement by U.S. President Donald Trump and China's Xi Jinping to refrain from new tariffs pending a new round of negotiations has relieved some pressure on markets. But the trade war has not been resolved and still remains the biggest cloud hanging over the global economic outlook.

White House economic adviser Larry Kudlow told reporters in Washington that he expected to announce a new round of negotiations soon. "They're on the phone," he said. "There's lots of communication."

"We're not done yet, but we're hopeful," he said.

In energy markets, benchmark U.S. crude oil lost 35 cents to $56.99 per barrel in electronic trading on the New York Mercantile Exchange while Brent crude, the international standard, gave up 24 cents to $63.58 per barrel.

And in currency trading, the euro was steady at $1.1282 while the dollar was flat at 107.80 yen.


----------



## bigdog

Bond yields rose and stocks mostly bounced back from an early slide to finish with modest losses Friday, a downbeat end on Wall Street to an otherwise milestone-setting week for the broader market.

The small decline snapped a six-day winning streak for the S&P 500, though the benchmark index still notched a weekly gain. The S&P 500 set three straight all-time highs earlier in the week, extending the market's solid gains in June into July. The S&P is up 19.3% so far this year.

The major indexes headed lower from the get-go Friday, a tumble that briefly knocked 230 points off the Dow Jones Industrial Average. Investors got rattled by government data showing an unexpected burst of hiring last month. That led traders to question whether the Federal Reserve will decide to lower interest rates later this month.










https://www.usnews.com/news/busines...es-mixed-after-us-benchmarks-hit-record-highs

*US Stocks Cap Milestone-Setting Week With Modest Losses*
Bond yields rose and stocks mostly bounced back from an early slide to finish with modest losses Friday, a downbeat end on Wall Street to an otherwise milestone-setting week for the broader market.
By Associated Press, Wire Service Content July 5, 2019, at 4:39 p.m.

By ALEX VEIGA, AP Business Writer

Bond yields rose and stocks mostly bounced back from an early slide to finish with modest losses Friday, a downbeat end on Wall Street to an otherwise milestone-setting week for the broader market.

The small decline snapped a six-day winning streak for the S&P 500, though the benchmark index still notched a weekly gain. The S&P 500 set three straight all-time highs earlier in the week, extending the market's solid gains in June into July. The S&P is up 19.3% so far this year.

The major indexes headed lower from the get-go Friday, a tumble that briefly knocked 230 points off the Dow Jones Industrial Average. Investors got rattled by government data showing an unexpected burst of hiring last month. That led traders to question whether the Federal Reserve will decide to lower interest rates later this month.

The Labor Department said that employers added a robust 224,000 jobs in June. The pickup in hiring could give the central bank pause later this month, when its policymakers are scheduled to meet and consider cutting the Fed's benchmark interest rate.

Most investors have anticipated a Fed rate cut this month and perhaps one or two additional cuts later in the year after the central bank signaled in June that it was prepared to lower interest rates to keep the economy growing in the face of slowing global growth and the fallout from U.S. trade conflicts.

"What the markets are really trying to figure out now, relative to the Fed, is on a stronger (jobs) report the question becomes, will they cut rates?" said Darrell Cronk, chief investment officer for Wells Fargo Wealth and Investment Management. "When you get this kind of holiday shortened weeks and light trading volume any kind of movement tends to be over accentuated."

The S&P 500 fell 5.41 points, or 0.2%, to 2,990.41. The Dow dropped 43.88 points, or 0.2%, to 26,922.12.

The Nasdaq composite slid 8.44 points, or 0.1%, to 8,161.79. The Russell 2000 index of smaller company stocks rose 3.50 points, or 0.2%, to 1,575.62.

Trading volume was light as U.S. markets reopened following the Independence Day holiday.

At the end of the month the Federal Reserve will hold its next meeting of policymakers, after which the panel will reveal whether it has decided to cut rates for the first time since the Great Recession in 2008 in the face of slowing economic momentum around the world.

Last year, Fed officials raised rates four times, in part to stave off the risk of high inflation and in part to try to ensure that they would have room to cut rates if the economy stumbled.

On Friday, the Fed emphasized that it would act as necessary to sustain the economic expansion, while noting that most Fed officials have lowered their expectations for the course of rates. The Fed's statement came in its semiannual report on monetary policy.

The Fed Funds futures, a barometer of whether investors are expecting the Fed to cut rates or not, has been showing a strong chance of a rate cut this month and another later this year, with an outside chance of a third.

Traders were betting Friday that a rate cut in late July may be less likely now. Investors sold bonds, sending the yield in the 10-year Treasury note up to 2.04% from 1.95% late Wednesday, a big move. Bond yields have fallen through much of June as investors' expectations of a Fed rate cut increased.

The jump in yields helped boost financial stocks, which led the gainers. Higher bond yields push up interest rates that banks charge on mortgages and other loans. Jefferies Financial Group climbed 3.4% to lead all gainers in the S&P 500.

Homebuilders fell broadly as bond yields rose, setting the stage for higher mortgage rates that could put a crimp on sales. KB Home dropped 2.4%.

Health care, industrial, technology and consumer staples stocks accounted for much of the selling. Regeneron Pharmaceuticals fell 3.6%, Rockwell Automation dropped 2.9%, Nvidia slid 1.6% and Kellogg lost 1.6%.

Video game company Electronic Arts fell 4.5%, the biggest losers in the S&P 500.

A slight easing of trade tensions between the U.S. and China helped spur the market's gains earlier this week. Both nations have agreed to refrain from new tariffs while they open a new round of negotiations. The development relieved some pressure on the market, though the trade war still looms over global economic growth.

White House economic adviser Larry Kudlow told reporters Thursday he expected to announce new negotiations soon. Still, forecasters warn the truce is fragile because the two sides still face the disputes that caused talks to break down in May.

Besides any developments on trade, the next major catalyst for the market will likely be the flood of earnings reports that companies are set to release in coming weeks as the second quarter reporting season begins.

Expectations are generally low, and this could be the first time in three years that S&P 500 companies report a back-to-back decline in overall earnings, according to FactSet.

Major stock indexes in Europe also ended lower Friday, while energy futures prices closed broadly higher.

Benchmark crude oil rose 17 cents to settle at $57.51 a barrel. Brent crude oil, the international standard, gained 93 cents to close at $64.23 a barrel. Wholesale gasoline rose 1 cent to $1.93 per gallon. Heating oil climbed 1 cent to $1.91 per gallon. Natural gas added 13 cents to $2.42 per 1,000 cubic feet.

Gold fell $21.00 to $1396.70 per ounce, silver fell 33 cents to $14.92 per ounce and copper fell 2 cents to $2.66 per pound.

The dollar rose to 108.58 Japanese yen from 107.78 yen on Thursday. The euro weakened to $1.1222 from $1.1285.

2523


----------



## bigdog

*SEE OF RED TODAY*

Technology and health care companies drove U.S. stocks to a lower finish Monday as the market fell for a second straight day following a run of record highs.

The selling came amid growing speculation on Wall Street that an unexpectedly strong pickup in U.S. employment growth last month may keep the Federal Reserve from aggressively cutting its benchmark interest rate. Many investors still expect a cut of a quarter percentage point, but fewer are now expecting a half-point reduction.

The market rallied through much of June after the central bank signaled that it's prepared to lower interest rates to offset slowing global growth and the fallout from U.S. trade conflicts. The benchmark S&P 500 index closed at record highs three days in a row last week before stumbling Friday following a report showed U.S. employers added a robust 224,000 jobs in June and stoked uncertainty about the Fed's next move on interest rates.










https://www.usnews.com/news/busines...ink-after-us-jobs-data-hurt-hopes-of-rate-cut

*US Stocks Drop as Traders Weigh Odds for Steep Fed Rate Cut*
Technology and health care companies drove U.S. stocks to a lower finish Monday as the market pulled back from recent highs for the second straight day.
By Associated Press, Wire Service Content July 8, 2019, at 5:01 p.m. 

By ALEX VEIGA, AP Business Writer

Technology and health care companies drove U.S. stocks to a lower finish Monday as the market fell for a second straight day following a run of record highs.

The selling came amid growing speculation on Wall Street that an unexpectedly strong pickup in U.S. employment growth last month may keep the Federal Reserve from aggressively cutting its benchmark interest rate. Many investors still expect a cut of a quarter percentage point, but fewer are now expecting a half-point reduction.

The market rallied through much of June after the central bank signaled that it's prepared to lower interest rates to offset slowing global growth and the fallout from U.S. trade conflicts. The benchmark S&P 500 index closed at record highs three days in a row last week before stumbling Friday following a report showed U.S. employers added a robust 224,000 jobs in June and stoked uncertainty about the Fed's next move on interest rates.

"We're getting an equity market that is taking a breather after five weeks of superb performance," said Bill Northey, senior investment director at U.S. Bank Wealth Management. "And we're on the eve of the beginning of second quarter earnings season, so it's simply an equity market taking a breather between those events."

The S&P 500 fell 14.46 points, or 0.5%, to 2,975.95. The index is now about 0.7% below its all-time high set Wednesday.

The Dow Jones Industrial Average slid 115.98 points, or 0.4%, to 26,806.14. The Nasdaq composite lost 63.41 points, or 0.8%, to 8,098.38. The Russell 2000 index of smaller company stocks dropped 14.24 points, or 0.9%, to 1,561.39.

Major stock indexes in Europe also finished lower.

The Fed's benchmark interest rate currently stands in a range of 2.25% to 2.5% and the central bank has not cut rates since the Great Recession in 2008. Last year, Fed officials raised rates four times, in part to stave off the risk of high inflation and in part to try to ensure that they would have room to cut rates if the economy stumbled.

On Friday, the Fed emphasized that it would act as necessary to sustain the economic expansion, while noting that most Fed officials have lowered their expectations for the course of rates. The Fed's statement came in its semiannual report on monetary policy.

Investors will be listening closely for any hints on the central bank's interest rate policy on Wednesday and Thursday, when Powell delivers the Fed's semi-annual monetary report to Congress.

"Looking to the Fed funds futures markets, you see the potential for one to two more additional rate cuts between now and year-end," Northey said. "There's a trajectory of easing that is likely to be forthcoming, that is already reflected in capital markets and not likely to change materially based on the testimony later this week."

Besides keeping an eye on the Fed and on any developments with the ongoing trade talks between the U.S. and China, investors are looking ahead to the flood of earnings reports that companies are set to begin releasing later this month.

Expectations are generally low, and this could be the first time in three years that S&P 500 companies report a back-to-back decline in overall earnings, according to FactSet.

Technology and health care stocks led the market's slide Monday. Apple dropped 2.1% and Cardinal Health slid 1.5%. Communication services companies also declined broadly. Google parent Alphabet fell 1.4% and TripAdvisor lost 4.3%.

Banks also declined. Bank of New York Mellon slid 3.4%.

Traders shifted money into U.S. government bonds and sectors seen as less risky, including household goods makers and real estate. Conagra Brands gained 1.5% and AvalonBay Communities added 1.1%.

Energy stocks rose along with the price of crude oil. Helmerich & Payne gained 1.1%.

MDC Holdings jumped 9.7% after the homebuilder issued preliminary second-quarter results that show orders for new homes jumped 32% from a year earlier. That helped spur homebuilders broadly higher. Beazer Homes USA rose 1.5%.

Bond prices fell, shedding early gains. That sent the yield on the 10-year Treasury note to 2.05% from 2.04% late Friday. Bond yields fell through much of June as investors' expectations of a Fed rate cut increased.

Deutsche Bank was among the market's more notable movers Monday. The struggling German company tumbled 6.1% after it disclosed plans to cut 18,000 jobs by 2022 as it shrinks its investment banking division. It says the move is part of a sweeping restructuring aimed at restoring consistent profitability and improving returns to its shareholders.

F5 Networks slid 3.8% after an analyst at Goldman Sachs downgraded the stock, saying the provider of cloud computing services for mobile apps faces risks amid weaker short-term business spending and rising competition.

Energy futures closed mostly lower. Benchmark crude oil rose 15 cents to settle at $57.66 a barrel. Brent crude oil, the international standard, fell 12 cents to close at $64.11 a barrel. Wholesale gasoline fell 3 cents to $1.90 per gallon. Heating oil declined 1 cent to $1.90 per gallon. Natural gas rose 2 cents to $2.40 per 1,000 cubic feet.

Gold rose 30 cents to $1,397.00 per ounce, silver rose 5 cents to $14.97 per ounce and copper was unchanged at $2.66 per pound.

The dollar rose to 108.72 Japanese yen from 108.58 yen on Friday. The euro weakened to $1.1212 from $1.1222.


----------



## bigdog

Wall Street capped a day of listless trading Tuesday with modest gains, narrowly avoiding a three-day losing streak for the S&P 500 index.

A last-minute burst of buying nudged the benchmark index into positive territory after spending most of the day flat or down.

Stocks have wavered between small gains and losses following a run of record highs last week. Investors have been mostly pausing ahead of two days of congressional testimony by Federal Reserve Chair Jerome Powell. Traders will be listening to the exchanges that Powell has with lawmakers on Wednesday and Thursday for hints about the Fed's next move on interest rates.

The market rallied through much of June after the central bank signaled that it's prepared to cut rates to offset slowing global growth and the fallout from U.S. trade conflicts. But an unexpectedly strong U.S. jobs report Friday has dimmed investors' expectations.











https://www.usnews.com/news/busines...es-retreat-ahead-of-fed-statement-to-congress

*S&P 500 Snaps 2-Day Losing Streak; Mixed Finish for Stocks*
Wall Street capped a day of listless trading Tuesday with modest gains, narrowly avoiding a three-day losing streak for the S&P 500 index.
By Associated Press, Wire Service Content July 9, 2019, at 5:00 p.m. 

By ALEX VEIGA, AP Business Writer

Wall Street capped a day of listless trading Tuesday with modest gains, narrowly avoiding a three-day losing streak for the S&P 500 index.

A last-minute burst of buying nudged the benchmark index into positive territory after spending most of the day flat or down.

Stocks have wavered between small gains and losses following a run of record highs last week. Investors have been mostly pausing ahead of two days of congressional testimony by Federal Reserve Chair Jerome Powell. Traders will be listening to the exchanges that Powell has with lawmakers on Wednesday and Thursday for hints about the Fed's next move on interest rates.

The market rallied through much of June after the central bank signaled that it's prepared to cut rates to offset slowing global growth and the fallout from U.S. trade conflicts. But an unexpectedly strong U.S. jobs report Friday has dimmed investors' expectations.

Many traders still expect the Fed will cut its benchmark rate by a quarter percentage point at the end of the month, but fewer are now expecting a half-point reduction.

"Certainly the jobs report put into perspective just how much easing may be possible, given the continued strength of the economy," said Justin Kelly, chief investment officer at Winslow Capital. "So the market is likely recalibrating."

The S&P 500 rose 3.68 points, or 0.1%, to 2,979.63. The Dow Jones Industrial Average fell 22.65 points, or 0.1%, to 26,783.49.

The Nasdaq composite, which is heavily weighted with technology companies, gained 43.35 points, or 0.5%, to 8,141.73. The Russell 2000 index of smaller company stocks added 1.20 points, or 0.1%, to 1,562.59.

Major stock indexes in Europe finished lower.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.07% from 2.03% late Monday.

Despite lingering worries over trade, investors have pushed stocks mostly higher since early June after the Fed raised expectations for a rate cut. The benchmark S&P 500 hit all-time highs three straight days last week. Even with the sluggish start to the week, the S&P 500 is just 0.5% below its record high set Wednesday.

The question is whether the Fed will still see a good argument for cutting interest rates after the strong June jobs data.

The Fed's benchmark interest rate currently stands in a range of 2.25% to 2.5% and the central bank has not cut rates since the Great Recession in 2008. Last year, Fed officials raised rates four times, in part to stave off the risk of high inflation and in part to try to ensure that they would have room to cut rates if the economy stumbled.

On Friday, the Fed emphasized that it would act as necessary to sustain the economic expansion, while noting that most Fed officials have lowered their expectations for the course of rates.

While investors are focused on the Fed this week, traders may also be holding back ahead of next week, when the bulk of S&P 500 companies begin reporting their second quarter results.

Expectations are generally low, and this could be the first time in three years that S&P 500 companies report a back-to-back decline in overall earnings, according to FactSet.

"This is the quiet before the storm, the storm in this case being earnings season," Kelly said. "It's going to be a mixed earnings season because we can all observe the weaker macroeconomic data, which is going to affect companies that are more dependent on a strong economy."

Companies in the technology, health care and consumer discretionary sectors are likely to deliver stronger results, given that U.S. consumer spending and sentiment remain strong.

"You may be starting to see investors position for that, believing that earnings may be positive catalyst for the share prices in those growth sectors," Kelly said.

Investors are in good shape heading into earnings season. The S&P 500 is up 18.9% and the Nasdaq has gained 22.7%.

Technology and communications services stocks drove much of Tuesday's gains in the market. Advanced Micro Devices climbed 3.5% and Twitter rose 3.3%.

Banks also notched solid gains, receiving a boost from rising bond yields, which drive up interest rates on mortgages and other loans. First Republic Bank gained 1.5%.

Higher mortgage rates spell bad news for would-be homebuyers, making home loans more expensive. That weighed on homebuilders, which closed broadly lower. Hovnanian Enterprises led the slide, dropping 4.2%.

Consumer staples, materials and industrials stocks lagged the broader market. Monster Beverage dropped 1.9%, Mosaic fell 3% and 3M slid 2.1%.

Investors bid up shares in Acacia Communications 35.1% after the company agreed to be acquired by Cisco Systems.

Energy futures closed broadly higher Tuesday. Benchmark crude oil gained 17 cents to settle at $57.83 a barrel. Brent crude oil, the international standard, rose 5 cents to close at $64.16 a barrel. Wholesale gasoline rose 3 cents to $1.93 per gallon. Heating oil climbed 1 cent to $1.91 per gallon. Natural gas rose 3 cents to $2.43 per 1,000 cubic feet.

Gold rose 50 cents to $1,397.50 per ounce, silver rose 10 cents to $15.07 per ounce and copper fell 4 cents to $2.62 per pound.

The dollar rose to 108.89 Japanese yen from 108.72 yen on Monday. The euro weakened to $1.1207 from $1.1212.


----------



## bigdog

Stocks finished higher Wednesday as Wall Street welcomed new signals suggesting the Federal Reserve is ready to cut interest rates for the first time in a decade.

Technology stocks drove much of the gains, nudging the Nasdaq composite to an all-time high. The benchmark S&P 500 index briefly traded above 3,000 for the first time before pulling back to just below its most recent record high a week ago.

The market climbed early on after Fed Chairman Jerome Powell said that many Fed officials believe a weakening global economy and rising trade tensions have strengthened the case for a rate cut.

Powell's remarks, which he delivered as part of his semi-annual monetary report to Congress, allayed investors' concerns that an unexpectedly strong U.S. jobs report on Friday might give the Fed reason to stay put on interest rates.










https://www.usnews.com/news/busines...ts-mixed-pausing-ahead-of-fed-chief-testimony

*Tech Sector Leads US Stocks Higher as Fed Signals Rate Cut*
Stocks rose Wednesday as Wall Street welcomed new signals suggesting the Federal Reserve is ready to cut interest rates for the first time in a decade.
By Associated Press, Wire Service Content July 10, 2019, at 4:49 p.m. 

By ALEX VEIGA, AP Business Writer

Stocks finished higher Wednesday as Wall Street welcomed new signals suggesting the Federal Reserve is ready to cut interest rates for the first time in a decade.

Technology stocks drove much of the gains, nudging the Nasdaq composite to an all-time high. The benchmark S&P 500 index briefly traded above 3,000 for the first time before pulling back to just below its most recent record high a week ago.

The market climbed early on after Fed Chairman Jerome Powell said that many Fed officials believe a weakening global economy and rising trade tensions have strengthened the case for a rate cut.

Powell's remarks, which he delivered as part of his semi-annual monetary report to Congress, allayed investors' concerns that an unexpectedly strong U.S. jobs report on Friday might give the Fed reason to stay put on interest rates.

"Investors are increasingly confident that the Fed will cut rates by a quarter-point at the end of the month, which most investors expected," said Kate Warne, chief investment strategist at Edward Jones. "This removed a little bit of the uncertainty there, and that's why we're seeing stocks move higher."

The S&P 500 index rose 13.44 points, or 0.5%, to 2,993.07. The index, which set three record highs last week, is now less than 0.1% below its all-time high set last Wednesday.

The Dow Jones Industrial Average gained 76.71 points, or 0.3%, to 26,860.20.

The Nasdaq climbed 60.80 points, or 0.7%, to 8,202.53, a record. It's previous record high was also set last Wednesday.

The Russell 2000 index of smaller company stocks rebounded from a brief slide, gaining 2.46 points, or 0.2%, to 1,565.05.

Major stock indexes in Europe closed mostly lower. The dollar fell and the price of gold rose.

The U.S. stock market rallied through much of June after the Fed first signaled that it might cut rates if necessary to shore up the U.S. economy.

Powell's testimony before the House Financial Services Committee on Wednesday came at a time when the U.S. economic landscape is mixed. While the job market appears resilient and consumer spending and home sales look solid, the economy is likely slowing. And the U.S. trade disputes have added uncertainty to the economic outlook.

In his prepared statement, Powell said that since Fed officials met last month, "uncertainties around trade tensions and concerns about the strength of the global economy continue to weigh on the U.S. economic outlook." Meanwhile, inflation has fallen farther from the Fed's target.

"It makes it so odd to think that we actually need to have this kind of stimulus from the Fed to continue this expansion," said Terry DuFrene, global investment specialist at J.P. Morgan Private Bank. "But the fact is you're starting to see some of those signals out there. The economy could start slowing and the Fed just wants to get ahead of that."

The Fed's benchmark rate currently stands in a range of 2.25% to 2.5% after the central bank raised rates four times last year. Many investors have put the odds of a rate cut this month at 100%.

A quarter-point cut in interest rates, which many investors expect, isn't likely to have a big impact on consumers' credit cards or mortgage rates. But it would reassure markets that the Fed would be open to further rate cuts if more signs of weakness in the global economy emerge, Warne said.

"Shifting from raising rates to lowering rates is a regime change," she said. "The second thing is we've already seen long-term interest rates come down partly in expectation of the rate cut."

Powell is due to appear before the Senate Banking Committee on Thursday.

Investors will have to wait until the end of the month to see what action the Fed takes on interest rates at its next meeting of policymakers. Before then, however, the market will turn its attention to the upcoming company earnings reporting season, which begins next week.

Companies have been lowering expectations for how much profit they made in the April-June quarter. Wall Street now projects that overall S&P 500 company earnings for the quarter fell 2.6% from a year earlier, according to FactSet. As recently as the end of March, earnings were forecast to be down only 0.5%.

This could be the first time in three years that S&P 500 companies report a back-to-back decline in overall earnings.

"We're going to see what's happening with companies' earnings, and that's where the uncertainty lies," said Tom Martin, senior portfolio manager with Globalt Investments.

Technology companies accounted for much of the market's gains Wednesday. Micron Technology climbed 3.7% and Western Digital rose 5%. Communications services stocks and consumer goods makers also rose. Take-Two Interactive added 1.8% and PepsiCo picked up 2%.

Energy stocks also rose as the price of U.S. crude oil climbed 4.5%. Chevron rose 1.7%.

Bond prices rose sharply, sending the yield in the 10-year Treasury note down to 2.06% from 2.10% shortly before Powell's remarks were released at 8:30 a.m. Eastern Time.

The drop in yields pulled bank shares lower. When bond yields decline they drive the interest rates that lenders charge for mortgages and other loans lower. Citizens Financial Group dropped 2.8%.

Industrials and materials stocks also lagged the market. Deere & Co. slid 1.6% and Corteva lost 1.8%.

Traders weighed earnings results from several companies.

Helen of Troy vaulted 11.15% after the company reported fiscal first-quarter results that topped Wall Street's forecasts. Its brands include Hydro Flask, Oxo, Vicks and Revlon.

Shares in WD-40 climbed 8.5% after the seller of lubricants delivered fiscal third-quarter earnings and revenue that exceeded analysts' expectations.

Levi Strauss slumped 12% after the jeans maker's latest quarterly report card showed its profit margins fell due to higher costs.

Energy futures closed broadly higher Wednesday.

Benchmark crude oil rose $2.60 to settle at $60.43 a barrel, the highest level since late May. Brent crude oil, the international standard, gained $2.85 to close at $67.01 a barrel. Wholesale gasoline added 8 cents to $2.01 per gallon. Heating oil climbed 8 cents to $1.99 per gallon. Natural gas picked up 1 cent to $2.44 per 1,000 cubic feet.

Gold rose $12.60 to $1,410.10 per ounce, silver added 8 cents to $15.15 per ounce and copper gained 7 cents to $2.69 per pound.

The dollar fell to 108.42 Japanese yen from 108.89 yen on Tuesday. The euro strengthened to $1.1253 from $1.1207.


----------



## bigdog

A turbulent day on Wall Street ended in the record books Thursday as the Dow Jones Industrial Average climbed above 27,000 for the first time and the S&P 500 index hit another all-time high.

The milestones came on a day when the S&P 500 briefly moved above 3,000 for the second straight day before an early rally lost some of its momentum.

The market lost some ground after an auction of long-term U.S. government bonds failed to drum up strong demand. That pulled bond prices lower, sending yields sharply higher.

Banks and technology stocks led the broad gains, offsetting losses in real estate and communications services companies.










https://www.apnews.com/be359f4238a94a2095fd680c7b122b58

*Dow Jones industrials cross 27,000 points for first time*
By ALEX VEIGA9 minutes ago

A turbulent day on Wall Street ended in the record books Thursday as the Dow Jones Industrial Average climbed above 27,000 for the first time and the S&P 500 index hit another all-time high.

The milestones came on a day when the S&P 500 briefly moved above 3,000 for the second straight day before an early rally lost some of its momentum.

The market lost some ground after an auction of long-term U.S. government bonds failed to drum up strong demand. That pulled bond prices lower, sending yields sharply higher.

Banks and technology stocks led the broad gains, offsetting losses in real estate and communications services companies.

The latest gains extended a winning streak for stocks into its third day. Stocks have been trending higher for much of the week as investors have grown more confident that the Federal Reserve may cut interest rates for the first time in a decade as soon as the end of this month.

“Sure, 27,000 is just a number and in the whole scope of things isn’t meaningful,” said Ryan Detrick, senior market strategist for LPL Financial. “What it is though is a reminder for all investors that this bull market has ignored all the scary headlines for years and the dual benefit of fiscal and monetary policy could mean it has a lot longer to go than most expect.”

The S&P 500 rose 6.84 points, or 0.2%, to 2,999.91. The index set three straight record highs last week.

The Dow gained 227.88 points, or 0.8%, to 27,088.08. The Nasdaq composite gave up an early gain, sliding 6.49 points, or 0.1%, to 8,196.04. The Russell 2000 index of smaller company stocks dropped 7.13 points, or 0.5%, to 1,557.92.

Major stock indexes in Europe fell.

Stocks rose from the get-go Thursday as investors looked ahead to Fed Chairman Jerome Powell testifying before a Congressional committee for the second straight day.

Powell stressed that the Fed is prepared to cut interest rates to support the economy, raising hopes that the first reduction in its key policy rate in a decade could happen later this month.

He noted that “uncertainties around trade tensions and concerns about the strength of the global economy continue to weigh on the U.S. economic outlook.”

New government data released Thursday showed consumer prices rose in June from a year earlier. The bump in inflation wasn’t expected to give the Fed reason to reconsider whether it should lower rates, if necessary. Inflation has remained muted through much of the economy’s 10-year expansion, which Powell has said cited as a justification for potentially lowering rates.

The early rally weakened by early afternoon after bond yields spiked following weak demand at an auction for 30-year Treasurys. That pulled bond prices lower, driving the yield on the benchmark 10-year Treasury note to 2.14% from 2.06% late Wednesday, a big move.

“The markets were higher at the beginning of the day based on Powell’s testimony and him confirming what the futures markets have been telling us for a whole month: That we were going to get a rate cut,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab. “But then we had this Treasury auction, which apparently didn’t go so hot.”

The surge in bond yields marked a reversal from recent weeks, when many investors funneled money into bonds and other less-risky assets amid growing anxiety over the U.S. trade conflicts and signs of a slowing global economy.

The move had a swift effect on real estate stocks, utilities and other high-dividend stocks that lose their appeal when bond yields rise. Real estate investment trusts took the heaviest losses. Iron Mountain slid 7.5%.

Banks benefited from the surge in bond yields. When bond yields climb, they push up the interest rates that lenders charge for mortgages and other loans, making them more profitable. Bank of America rose 1.2% and Goldman Sachs gained 2.6%.

Pharmaceutical makers dropped after the White House scrapped a plan to overhaul a system of rebates those companies pay to insurers and distributors. Merck & Co. dropped 4.5%.

The move gave drugstore chains and health insurers a boost, however. Cigna surged 9.2%, CVS Health gained 4.7%, UnitedHealth climbed 5.5% and Anthem rose 5.5%.

Traders also weighed a mix of corporate earnings reports, Delta Air Lines and aviation maintenance company Air notched gains after their latest quarterly results topped Wall Street’s forecasts. Bed Bath & Beyond and Fastenal slumped on disappointing results.

Corporate earnings will keep investors busy starting next week, when S&P 500 companies begin reporting results for the April-June quarter.

Companies have been lowering expectations for how much profit they made in the quarter. Wall Street now projects that overall S&P 500 company earnings for the quarter fell 2.6% from a year earlier, according to FactSet. As recently as the end of March, earnings were forecast to be down only 0.5%.

This could be the first time in three years that S&P 500 companies report a back-to-back decline in overall earnings.

“The bars for earnings have been set sufficiently low to keep expectations in check,” said Jamie Cox, managing partner for Harris Financial Group. “We will hear lots about the impact of tariffs, but not much else.”

Benchmark crude oil fell 23 cents to settle at $60.20 a barrel. Brent crude oil, the international standard, dropped 49 cents to close at $66.52 a barrel. Wholesale gasoline fell 2 cents to $1.99 per gallon. Heating oil declined 1 cent to $1.98 per gallon. Natural gas fell 2 cents to $2.42 per 1,000 cubic feet.

Gold fell $5.80 to $1,404.30 per ounce, silver fell 8 cents to $15.07 per ounce and copper fell 1 cent to $2.68 per pound.

The dollar rose to 108.47 Japanese yen from 108.42 yen on Wednesday. The euro strengthened to $1.1258 from $1.1253.

Alcaldesa de Atlanta prohíbe fumar en bares, aeropuertoUS consumer prices tick up just 0.1% as inflation stays tameMore alcohol seized in connection to resort for ultra-rich
by Taboola


----------



## bigdog

The major U.S. stock indexes closed at record highs on Friday, with the S&P 500 ending above 3,000 for the first time. The market was driven higher by technology, consumer discretionary and industrial company stocks, which more than offset the drop in drugmakers.

Investors continued to remain focused on the Federal Reserve. The Fed is expected to cut its benchmark interest rate later this month for the first time in more than a decade to help counter slowing economic growth caused by various trade disputes. Investors have bet heavily that the Fed is moving that direction, moving stock and bond yields higher in the last two weeks.

The Dow closed up 243.95 points, or 0.9%, to 27,332.03. The S&P 500 rose 13.86 points, or 0.5%, to 3,013.77 and the Nasdaq composite index rose 48.10 points, or 0.6%, to 8,244.14. All three indexes closed at record highs.










https://www.usnews.com/news/busines...-mostly-higher-after-wall-st-sets-new-records

*Stocks Climb to Records on Hopes for Lower Interest Rates*
Stocks climb to more record highs, helped by industrial companies.
By Associated Press, Wire Service Content July 12, 2019, at 4:30 p.m.

By KEN SWEET, AP Business Writer

NEW YORK (AP) — The major U.S. stock indexes closed at record highs on Friday, with the S&P 500 ending above 3,000 for the first time. The market was driven higher by technology, consumer discretionary and industrial company stocks, which more than offset the drop in drugmakers.

Investors continued to remain focused on the Federal Reserve. The Fed is expected to cut its benchmark interest rate later this month for the first time in more than a decade to help counter slowing economic growth caused by various trade disputes. Investors have bet heavily that the Fed is moving that direction, moving stock and bond yields higher in the last two weeks.

The Dow closed up 243.95 points, or 0.9%, to 27,332.03. The S&P 500 rose 13.86 points, or 0.5%, to 3,013.77 and the Nasdaq composite index rose 48.10 points, or 0.6%, to 8,244.14. All three indexes closed at record highs.

Health care stocks took some of the heaviest losses. Eli Lilly, Merck and Pfizer all fell more than 1%. Pharmaceutical companies also fell on Thursday after the White House withdrew a plan to overhaul the rebates that drugmakers pay insurers and distributors. Investors now expect drugmakers may come under renewed pressure to lower prices.

Separately, another drugmaker, Johnson & Johnson, fell 4.1%. Bloomberg News reported that the company, a Dow component, is under a criminal investigation for possibly lying to the public about the cancer risks found in its ever-popular baby powder.

Industrial companies did well. DuPont rose 2.9%, Emerson Electric added 2.4% and Illinois Tool Works climbed 3.1%. There was positive economic data out of Europe on Friday. Industrial production rose by 0.9% in May, much more than the 0.2% gain that economists had been expecting.

Ford rose 2.9% after announcing that it would team up with Volkswagen to share costs on self-driving and electric vehicles.

Illumina, a genetics toolmaking company, plunged 16.1% after the company announced it was lowering its full-year forecast.

Bond yields have been moving higher for several days, a sign that investors have become more confident that the U.S. economy will continue to produce growth, at least for the next several months. On Wednesday, Fed chairman Jerome Powell told Congress that many Fed officials believe a weakening global economy and rising trade tensions have strengthened the case for a rate cut.

The yield on the benchmark U.S. 10-year Treasury note was 2.12% compared to the multi-year low of 1.95% the bond hit only 10 days ago.

"In our view, the Fed will cut (rates by a quarter of percentage point) since market expectations are near 90%," Tom Di Galoma, with Seaport Global, wrote in a note to clients.

In other moves, Anheuser-Busch InBev dropped 3% after The Wall Street Journal reported that the beer giant was cancelling plans to spin off its Asian division into a separate publicly traded company.

Investors are preparing for the start of second-quarter earnings season. Major U.S. banks will start reporting their results on Monday, starting with Citigroup. JPMorgan Chase, Wells Fargo and Goldman Sachs will report their results on Tuesday.

Benchmark crude oil rose 1 cent to settle at $60.21 a barrel in New York. Brent crude oil, the international standard, rose 20 cents to $66.72 a barrel.

Wholesale gasoline fell 1 cent to $1.98 per gallon. Heating oil was unchanged at $1.98 per gallon. Natural gas rose 3 cents to $2.45 per 1,000 cubic feet.

Gold rose $5.60 to $1,409.90 per ounce, silver rose 9 cents to $15.16 per ounce and copper rose 1 cent to $2.69 per pound.

The dollar rose to 107.81 Japanese yen from 108.47 yen on Thursday. The euro strengthened to $1.1271 from $1.1258.

2934


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## bigdog

S&P 500 Notches Another Record After a Muted, Mixed Day

A wobbly day of trading ended with meager gains for U.S. stock indexes on Monday, enough to nudge them further into record territory, as the curtain rose on what's expected to be the weakest earnings reporting season in years.

Financial stocks fell even though Citigroup said it made more money last quarter than analysts expected. Energy stocks were also weak, but gains for technology and health care stocks helped tip the S&P 500 and other indexes past the highs set on Friday.

The S&P 500 rose 0.53 points, or less than 0.1%, to 3,014.30 after drifting between a gain of 0.1% and a loss of 0.2% earlier in the day. The Dow Jones Industrial Average gained 27.13, or 0.1%, to 27,359.16, and the Nasdaq composite added 14.04, or 0.2%, to 8,258.19.










https://www.usnews.com/news/busines...s-mixed-as-china-reports-economy-slowed-in-2q

*S&P 500 Notches Another Record After a Muted, Mixed Day*
U.S. stock indexes bobbed around their record levels Monday, as the curtain rose on what's expected to be the weakest earnings reporting season in years.
By Associated Press, Wire Service Content July 15, 2019, at 4:39 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — A wobbly day of trading ended with meager gains for U.S. stock indexes on Monday, enough to nudge them further into record territory, as the curtain rose on what's expected to be the weakest earnings reporting season in years.

Financial stocks fell even though Citigroup said it made more money last quarter than analysts expected. Energy stocks were also weak, but gains for technology and health care stocks helped tip the S&P 500 and other indexes past the highs set on Friday.

The S&P 500 rose 0.53 points, or less than 0.1%, to 3,014.30 after drifting between a gain of 0.1% and a loss of 0.2% earlier in the day. The Dow Jones Industrial Average gained 27.13, or 0.1%, to 27,359.16, and the Nasdaq composite added 14.04, or 0.2%, to 8,258.19.

Stocks have jumped since early June on increasing expectations that the Federal Reserve will cut interest rates to help the economy, and investors are virtually certain that it will happen at the next Fed meeting at the end of this month. The only question, investors say, is how deeply the Fed will cut when it lowers rates for the first time in a decade.

Until then, the main drivers for the market will likely be the hundreds of earnings reports scheduled to come from big companies, showing how much profit they made from April through June. "It's waiting for this really all important second-quarter earnings season to heat up," said Thomas Martin, senior portfolio manager at Globalt Investments.

Expectations are generally dim, and Wall Street is forecasting a 3% drop in earnings per share for S&P 500 companies from a year ago. That would mark the first back-to-back drop in three years, according to FactSet. This week, roughly a fifth of the companies in the S&P 500 are set to report their second-quarter results.

Citigroup was one of the reporting season's early headliners, but its stock initially fell as much as 2.4% after reporting better-than-expected results. Its stock recovered as the day progressed, and it ended Monday down only 0.1%.

Other banks, though, didn't have as strong a recovery, and financial stocks in the S&P 500 dropped 0.5% for the second-sharpest loss among the 11 sectors that make up the index. JPMorgan Chase, which will report its second-quarter results on Tuesday, fell 1.2% and was the biggest individual drag on the S&P 500.

Every earnings reporting season, companies usually turn in results that top analysts' expectations. That may be even easier to do this time around, with analysts forecasting the worst drop in quarterly earnings for the S&P 500 in three years at 3%, according to FactSet.

"The bar for corporate earnings has been set quite low, and we don't think it will take much to surprise on the upside," said Jon Adams, senior investment strategist at BMO Global Asset Management.

That's why he said he'll be paying close attention to which companies are able to grow their revenues despite the stronger dollar and weakening economic trends around the world, and not just which companies are beating earnings forecasts. He's also focusing on companies able to keep their profit margins high, when wage growth for workers at many companies is starting to nudge higher.

Several economic reports are also on the schedule this week, including updates on retail sales, the housing industry and shoppers' confidence. The U.S. economy has generally remained solid, but investors don't expect this week's reports to alter the direction of the Fed, which has already given hints about rate cuts given weakening economic trends around the world.

The White House's repeated threats to raise tariffs has made companies at home more hesitant and hurt trade internationally. They're a big reason that China on Monday reported its weakest quarter of economic growth in at least 26 years.

"You could make a case that the Fed shouldn't need to cut in this market, but they've clearly prepared the market for a cut," said Adams.

Energy stocks fell 0.9% Monday for the sharpest drop among the 11 sectors that make up the S&P 500. Lower prices for oil and natural gas dented shares across the industry.

Benchmark U.S. crude fell 63 cents to settle at $59.58 per barrel. Brent crude, the international standard, lost 24 cents to $66.48 a barrel. Natural gas dropped 5 cents to $2.41 per 1,000 cubic feet, heating oil fell 3 cents to $1.95 per gallon and wholesale gasoline lost 5 cents to $1.93 per gallon.

The price of gold edged up $1.30 to $1,413.50 an ounce, silver rose 13 cents to $15.29 an ounce and copper rose 2 cents to $2.71 a pound.

The yield on the 10-year Treasury dipped to 2.08% from 2.10% late Friday. The two-year Treasury yield, which is more affected by expectations of Fed rate moves, held steady at 1.83%.

In markets abroad, the FTSE 100 in London rose 0.3%, France's CAC 40 inched up 0.1% and Germany's DAX added 0.5%. South Korea's Kospi slipped 0.2%, and the Hang Seng in Hong Kong rose 0.3%.

The dollar inched up to 107.90 Japanese yen from 107.81 late Friday. The euro slipped to $1.1259 from $1.1271, and the British pound fell to $1.2520 from $1.2572.


----------



## bigdog

Stocks ended a five-day winning streak on Tuesday as investors cautiously assessed the first big round of corporate earnings reports.

Technology companies fared the worst, weighed down by a 1.3% drop by Microsoft and a 1.9% slide from Intel.

Johnson & Johnson led health care stocks lower with a drop of 1.6%. The health care and pharmaceutical company's full-year profit forecast remained mostly below analysts' projections.

Financial stocks gave up early gains and turned mostly lower, although Goldman Sachs and JPMorgan Chase rose. Energy companies also fell broadly.

Major indexes were mixed for much of the morning and turned lower at midday after President Donald Trump said: "We have a long way to go on tariffs with China."










https://www.usnews.com/news/busines...s-mixed-in-lackluster-trading-nikkei-falls-06

*Stock Indexes End Lower, Breaking a 5-Day Winning Streak*
Stocks ended lower, breaking a five-day winning streak for the S&P 500 index, as investors cautiously assessed the first big round of corporate earnings reports.
By Associated Press, Wire Service Content July 16, 2019, at 5:10 p.m. 

By DAMIAN J. TROISE, AP Business Writer

NEW YORK (AP) — Stocks ended a five-day winning streak on Tuesday as investors cautiously assessed the first big round of corporate earnings reports.

Technology companies fared the worst, weighed down by a 1.3% drop by Microsoft and a 1.9% slide from Intel.

Johnson & Johnson led health care stocks lower with a drop of 1.6%. The health care and pharmaceutical company's full-year profit forecast remained mostly below analysts' projections.

Financial stocks gave up early gains and turned mostly lower, although Goldman Sachs and JPMorgan Chase rose. Energy companies also fell broadly.

Major indexes were mixed for much of the morning and turned lower at midday after President Donald Trump said: "We have a long way to go on tariffs with China."

The S&P 500 fell 10.26 points, or 0.3%, to 3,004.04. That marks the first decline in the benchmark index after five days of gains.

The Dow Jones Industrial Average fell 23.53 points, or 0.1% to 27,335.63. The Nasdaq composite fell 35.39 points, or 0.4%. to 8,222.80.

Small-company stocks rose slightly. The Russell 2000 index rose 0.17 point to 1,562.

A surprisingly good retail sales report for June had little impact on consumer product makers, though it did help push bond prices lower. The yield on the 10-year Treasury rose to 2.12% from 2.09% late Monday.

Industrial companies fared the best. JB Hunt Transport Services jumped 5.6% after the company beat Wall Street's second quarter profit forecasts. The trucking and logistics company also told investors that it expects volume will pick up in the second half of the year. Several other trucking and cargo-related companies also made gains. Ryder System rose 3.7%, Old Dominion rose 3.2% and Union Pacific rose 1.4%.

The latest round of corporate financial reports ramps up this week and investors have low expectations. Wall Street is forecasting a 2.6% drop in profit for S&P 500 companies. It is set to be the first back-to-back quarterly decline in three years.

Investors are looking for reasons to remain cautious as companies release results and give forecasts for the remainder of the year, said Jack Ablin, chief investment officer for Cresset Wealth management.

It's still early to tally results, but so far the share of companies beating profit forecasts has been high while many are reporting revenue shortfalls.

"That certainly doesn't bode well for growth in the second half," he said.

Domino's Pizza shed 8.7% after the pizza chain fell far short of Wall Street forecasts for a key sales measure during the second quarter. Arrow Electronics fell 1.8% after the company slashed its profit forecast for the second quarter because of weak demand.

Blue Apron surged 35.5% after the meal-kit company said it will start offering recipes with Beyond Meat's plant-based food. The company will start offering the options in August. Despite the surge, Blue Apron is still down more than 90% from its initial public offering two years ago.

The influx of earnings reports are coming in ahead of a highly anticipated Federal Reserve meeting at the end of the month. Wall Street expects the central bank to raise interest rates to help secure U.S. economic growth threatened by a trade war with China.

Investors are going to pay close attention to any second-half forecasts as companies continue to deal with trade uncertainties and the impact they could have on investments and expansion.

Benchmark U.S. crude fell $1.96 to settle at $57.62 per barrel. Brent crude, the international standard, lost $2.13 to $64.35 a barrel. Natural gas dropped 10 cents to $2.31 per 1,000 cubic feet, heating oil fell 5 cents to $1.90 per gallon and wholesale gasoline lost 4 cents to $1.89 per gallon.

The price of gold edged down $2.30 to $1,411.20 an ounce, silver rose 31 cents to $15.60 an ounce and copper fell 1 cent to $2.69 a pound.

The dollar rose to 108.34 Japanese yen from 107.90. The euro fell to $1.1206 from $1.1259, and the British pound fell to $1.2406 from $1.2520.


----------



## bigdog

U.S. stocks extended their losses into a second day on Wednesday as railroad operator CSX had its biggest drop in 11 years, pulling other industrial companies down with it.

Banks also fell as investors worried that lower interest rates will hurt their profits going forward. Investors expect the Federal Reserve to cut interest rates for the first time in a decade at their next policy meeting in two weeks.

The yield on the 10-year Treasury fell to 2.05% from 2.12% late Tuesday as investors headed for less risky holdings. Utilities, which are also considered a safer bet, made late gains and held up better than any other industry.










https://www.usnews.com/news/busines...ixed-as-wall-street-ends-5-day-winning-streak

*Stocks Extend Losses as Railroads Sink Industrial Companies*
U.S. stocks extended losses into a second day on Wednesday as railroad operator CSX had its biggest drop in 11 years and pulled other industrial companies down with it.
By Associated Press, Wire Service Content July 17, 2019, at 4:38 p.m

By DAMIAN J. TROISE, AP Business Writer

NEW YORK (AP) — U.S. stocks extended their losses into a second day on Wednesday as railroad operator CSX had its biggest drop in 11 years, pulling other industrial companies down with it.

Banks also fell as investors worried that lower interest rates will hurt their profits going forward. Investors expect the Federal Reserve to cut interest rates for the first time in a decade at their next policy meeting in two weeks.

The yield on the 10-year Treasury fell to 2.05% from 2.12% late Tuesday as investors headed for less risky holdings. Utilities, which are also considered a safer bet, made late gains and held up better than any other industry.

Abbott Laboratories gained 3.1% and pushed health care stocks higher after the maker of infant formula and drugs raised its forecast for the year. UnitedHealth Group also rose.

Health care was the only sector other than utilities to finish with modest gains. Technology stocks gave up early gains and finished lower along with the rest of the market.

The S&P 500 fell 19.62 points, or 0.7%, to 2,984.42. The Dow Jones Industrial Average fell 115.78 points, or 0.4%, to 27,219.85. The Nasdaq composite fell 37.59 points, or 0.5%, to 8,185.21. Small-company stocks also fell. The Russell 2000 index lost 11.22 points, or 0.7%, to 1,550.78.

Corporate earnings reports are getting into full swing this week, and investors have been mostly cautious in their assessments of them. Earnings are still expected to decline for S&P 500 companies in the second quarter.

CSX plunged 10.3% after saying it now expects its revenue to decline as much as 2% this year, after previously saying it expected growth. Investors read that as trouble for the entire industry and sent the stocks of other railroad operators lower. Union Pacific sank 6.1% and Norfolk Southern dropped 7.5%.

Netflix, which reported its results after the close of regular trading Wednesday, plunged 10% in after-hours trading after reporting a dramatic slowdown in growth during its traditionally sluggish spring season.

UnitedHealth Group, Phillip Morris and Morgan Stanley are scheduled to release their results Thursday.

Corporate profits have so far been beating Wall Street forecasts. But investors are keeping a close watch on the picture that companies paint for the second half of the year.

"You're getting tempered guidance for the most part," said Lindsey Bell, investment strategist with CFRA Research. "It's more of a reality check. Second-half growth is not guaranteed at this point."

Investors are likely going to pause and take a more cautious approach going forward, she said, as stock indexes reach record highs. The technology-heavy Nasdaq is up more than 23% for the year and the broad S&P 500 is up more than 19%.

A weak home construction report loomed over companies that build homes. Hovnanian fell 3.1%, Lennar shed 2% and Toll Brothers fell 1.9%.

U.S. home construction slipped last month as an uptick in the building of single-family homes was offset by a big drop in apartment construction. The figure fell short of economists' forecasts.

Nu Skin Enterprises fell 14.6% after the seller of skin care and nutritional products slashed its profit and revenue forecast for the year. The company and other direct sellers of wellness products are facing increased scrutiny from the Chinese government. Nu Skin gets 33% of its revenue from China, according to FactSet.

Cintas rose 8.7% after the uniform rental company beat analysts' profit and revenue forecasts for its fiscal fourth quarter. The company also gave investors a solid profit forecast for its current fiscal year.

Benchmark crude oil fell 84 cents to settle at $56.78 a barrel. Brent crude oil, the international standard, fell 69 cents to close at $63.66 a barrel. Wholesale gasoline fell 1 cent to $1.88 per gallon. Heating oil declined 1 cent to $1.89 per gallon. Natural gas fell 1 cent to $2.30 per 1,000 cubic feet.

Gold rose $12.10 to $1,421.30 per ounce, silver rose 29 cents to $15.89 per ounce and copper rose 2 cents to $2.71 per pound.

The dollar fell to 108.10 Japanese yen from 108.34 yen on Tuesday. The euro strengthened to $1.1223 from $1.1206.


----------



## bigdog

U.S. stocks reversed course from an early slump and closed higher Thursday to break a two-day losing streak after technology and bank stocks rallied.

Corporate earnings are in full swing and investors have been cautiously assessing results and company statements. The volatile market is still on track for a weekly loss despite the S&P 500 opening the week with a record high close. The pullback has barely dented the big gains made by every major index this year, including a 19.5% rise for the S&P 500 index.

The latest batch of results are providing a better picture of the economy after months of ups and downs in the market because of policy concerns and lingering trade disputes.










https://www.usnews.com/news/busines...s-follow-wall-street-lower-on-trade-war-fears

*US Stock Indexes Shake off an Early Loss and Close Higher*
U.S. stocks reversed course from an early slump and closed higher Thursday to break a two-day losing streak after technology and bank stocks rallied.
By Associated Press, Wire Service Content July 18, 2019, at 4:32 p.m

By DAMIAN J. TROISE, AP Business Writer

NEW YORK (AP) — U.S. stocks reversed course from an early slump and closed higher Thursday to break a two-day losing streak after technology and bank stocks rallied.

Corporate earnings are in full swing and investors have been cautiously assessing results and company statements. The volatile market is still on track for a weekly loss despite the S&P 500 opening the week with a record high close. The pullback has barely dented the big gains made by every major index this year, including a 19.5% rise for the S&P 500 index.

The latest batch of results are providing a better picture of the economy after months of ups and downs in the market because of policy concerns and lingering trade disputes.

"We've been watching the game and now we actually get to see the scorecard," said Brad McMillan, chief investment officer for Commonwealth Financial Network.

The results so far have reflected financial strength from banks as the broader economy holds up with solid job growth and consumer confidence.

"The consumers are still making things happen out there and it's showing up in the earnings to a surprising degree," he said.

The S&P 500 index rose 10.69 points, or 0.4%, to 2,995.11. The Dow Jones Industrial Average edged up 3.12 points to 27,222.97. It was down as much as 151 points earlier. The Nasdaq composite rose 22.04 points, or 0.3%, to 8,207.24.

IBM rose 4.6% after reporting solid results. The company, along with Apple, helped lift the technology sector to lead the broader gains.

Banks led financial stocks higher. BB&T rose 2.8% and SunTrust Banks rose 2.7%. Both reported earnings that easily beat analysts' estimates.

Medical equipment makers helped health care stocks reverse course after an early loss. Danaher rose 2.4% after reporting solid second quarter results. Abbott Laboratories and Thermo Fisher both rose 2.3%.

Market indexes were down most of the day after Netflix plunged 10.3% in heavy trading and took other communications companies down with it. The streaming video service reported a slump in new subscribers that could mean trouble as it faces a new wave of competition from Disney and Apple.

Communications stocks remained the day's biggest loser. Consumer-oriented and energy stocks also fell. Dollar Tree shed 1.9% and Apache lost 3.8%.

Financial results remain a mixed bag for many companies. Only about 13% of S&P 500 companies have reported, according to FactSet, and analysts expect profits to fall 2.4% overall when every report is tallied.

Union Pacific rose 5.9% after the railroad operator reported profit growth and beat Wall Street forecasts despite hauling less freight. The company cut expenses by 7% during the quarter as shipments fell amid ongoing trade disputes. On Wednesday, rival CSX cut its revenue forecast as it deals with a slowdown in shipments.

Philip Morris International rose 8.2% after the cigarette maker raised its profit forecast for the year following a solid second quarter.

Genuine Parts fell 4.5% after the maker of automotive parts reported weak second quarter financial results and trimmed its profit outlook. The company said it is experiencing weaker demand in Europe.

Microsoft rose 1.6% after the close of regular trading. The technology company's second quarter profit, which it reported after the closing bell, beat Wall Street forecasts.

Several other large companies are expected to report results Friday, including American Express and Schlumberger.

Benchmark crude oil fell $1.48 to settle at $55.30 a barrel. Brent crude oil, the international standard, fell $1.73 to close at $61.93 a barrel. Wholesale gasoline fell 5 cents to $1.83 per gallon. Heating oil declined 3 cents to $1.86 per gallon. Natural gas fell 1 cent to $2.29 per 1,000 cubic feet.

Gold rose $4.80 to $1,426.10 per ounce, silver rose 23 cents to $16.12 per ounce and copper fell 1 cent to $2.70 per pound.

The dollar fell to 107.52 Japanese yen from 108.10 yen on Wednesday. The euro strengthened to $1.1266 from $1.1223.


----------



## bigdog

U.S. stocks pulled further back from their records on Friday to cap the weakest week for the S&P 500 since May.

Indexes sloshed between small gains and losses for much of the day before turning lower in the afternoon after Iran said it seized a British oil tanker, the latest escalation of tensions between Tehran and the West. Reined-in expectations for how deeply the Federal Reserve will cut interest rates at its next meeting also weighed on stocks.

The S&P 500 fell 18.50 points, or 0.6%, to 2,976.61. After setting its record high on Monday, the index see-sawed mostly lower and lost 1.2% for the week. It's just the second down week for the index in the last seven.

The Dow Jones Industrial Average fell 68.77, or 0.3%, to 27,154.20, and the Nasdaq composite lost 60.75, or 0.7%, to 8,146.49.

Momentum for stocks has slowed since early June, when they began soaring on expectations that the Federal Reserve will cut interest rates for the first time in a decade to ensure the U.S. economy doesn't succumb to weaknesses abroad. The Fed's next meeting is scheduled for the end of this month.










https://www.usnews.com/news/busines...an-shares-rebound-extending-wall-street-gains

*Reined-In Rate-Cut Expectations, Iran Tensions Hit S&P 500*
U.S. stock indexes sloshed between small gains and losses Friday after Microsoft, American Express and other big companies offered up a mixed set of earnings reports.
By Associated Press, Wire Service Content July 19, 2019, at 4:47 p.m

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — U.S. stocks pulled further back from their records on Friday to cap the weakest week for the S&P 500 since May.

Indexes sloshed between small gains and losses for much of the day before turning lower in the afternoon after Iran said it seized a British oil tanker, the latest escalation of tensions between Tehran and the West. Reined-in expectations for how deeply the Federal Reserve will cut interest rates at its next meeting also weighed on stocks.

The S&P 500 fell 18.50 points, or 0.6%, to 2,976.61. After setting its record high on Monday, the index see-sawed mostly lower and lost 1.2% for the week. It's just the second down week for the index in the last seven.

The Dow Jones Industrial Average fell 68.77, or 0.3%, to 27,154.20, and the Nasdaq composite lost 60.75, or 0.7%, to 8,146.49.

Momentum for stocks has slowed since early June, when they began soaring on expectations that the Federal Reserve will cut interest rates for the first time in a decade to ensure the U.S. economy doesn't succumb to weaknesses abroad. The Fed's next meeting is scheduled for the end of this month.

Late Thursday, Treasury yields sank after comments by Fed officials raised expectations that it may cut rates by half a percentage point, rather than the typical quarter point. But yields climbed Friday as the market grew more convinced that the Fed will cut just 0.25 percentage points on July 31.

"It could be 25 wasted," said Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management Company, who said a half-point cut would be more effective. "I think it's more important to shock the market a bit and convince the market they're serious about pushing inflation above 2%."

The yield on the 10-year Treasury rose to 2.05% from 2.04% late Thursday. The two-year yield, which is more influenced by expectations of Fed moves on rates, climbed to 1.81% from 1.77%.

Until the Fed's meeting, investors are focusing on whether companies can top the meager expectations Wall Street has for the profits they made during the spring.

Microsoft jumped in morning trading after reporting stronger earnings for April through June than analysts expected, though it faded as the afternoon progressed and ended the day with just a 0.1% gain.

Several banks climbed after reporting stronger-than-expected earnings, but financial stocks in the S&P 500 were down overall. That was partly because of a 2.8% drop for American Express, which reported stronger earnings for the latest quarter than analysts forecast but did not raise its forecast for full-year earnings.

"The biggest overall trend is if you beat, you may be mildly rewarded, and if you miss, you are going to get pounded," said J.J. Kinahan, chief market strategist for TD Ameritrade.

Energy stocks had the biggest gains in the S&P 500 after the price of oil climbed on worries about possible supply disruptions.

Britain's foreign secretary said Iranian authorities seized two vessels in the Strait of Hormuz, one British-flagged and the other under Liberia's flag. The move comes two days after the United States said it downed an Iranian drone in the strait, which is a key waterway for moving oil.

Benchmark U.S. crude oil climbed 33 cents, or 0.6%, to settle at $55.63 after being down earlier in the day. Brent crude, the international standard, rose 54 cents, or 0.9%, to $62.47 per barrel.

Boeing had one of the biggest gains in the S&P 500, even though it said it will take a $4.9 billion charge to cover possible compensation it will pay airlines following the grounding of its 737 Max jet. That's a huge number, analysts concede, but it may provide some certainty to investors who had worried the payments could be much higher. Boeing also said the figure assumes its 737 Max jets return to service later this year, which would be earlier than some investors thought.

Boeing shares rose 4.5% and helped drive industrial stocks to one of the biggest gains of the 11 sectors that make up the S&P 500, at 0.5%.

In the commodities markets, wholesale gasoline rose 1 cent to $1.84 per gallon. Heating oil climbed 3 cents to $1.89 per gallon. Natural gas fell 4 cents to $2.25 per 1,000 cubic feet.

Gold fell $1.00 to $1,425.10 per ounce, silver was unchanged at $16.12 per ounce and copper rose 4 cents to $2.74 per pound.

The dollar rose to 107.81 Japanese yen from 107.52 yen on Thursday. The euro weakened to $1.1219 from $1.1266.

Asian stock markets were strong, with Japan's Nikkei 225 index up 2%, South Korea's Kospi gaining 1.3% and the Hang Seng in Hong Kong up 1.1%.

The FTSE 100 in London added 0.2%, the German Dax rose 0.3% and the French CAC 40 was virtually flat.






3324


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## bigdog

Tech stocks were the standouts in an otherwise sluggish day of trading on Monday, as investors gear up for the arrival of the heart of earnings reporting season.

Apple, Intel and several chip makers jumped more than 2%, and technology stocks in the S&P 500 climbed 1.2%. But the other 10 sectors that make up the index were evenly split between gainers and losers, and none moved by more than 0.5%.

All the mixed trading left the S&P 500 up 8.42 points, or 0.3%, at 2,985.03. The index is back within 1% of its record, which was set a week earlier.

The Dow Jones Industrial Average edged up 17.70, or 0.1%, to 21,171.90, and the Nasdaq composite rose 57.65, or 0.7%, to 8,204.14.










Dow 6 month chart





https://www.usnews.com/news/busines...s-mostly-fall-taking-cue-from-wall-street-fed

*Technology Shines on an Otherwise Sluggish Day for US Stocks*
Tech stocks were the standouts in an otherwise sluggish day of trading on Monday, as investors gear up for the arrival of the heart of earnings reporting season.
By Associated Press, Wire Service Content July 22, 2019, at 4:38 p.m

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — Tech stocks were the standouts in an otherwise sluggish day of trading on Monday, as investors gear up for the arrival of the heart of earnings reporting season.

Apple, Intel and several chip makers jumped more than 2%, and technology stocks in the S&P 500 climbed 1.2%. But the other 10 sectors that make up the index were evenly split between gainers and losers, and none moved by more than 0.5%.

All the mixed trading left the S&P 500 up 8.42 points, or 0.3%, at 2,985.03. The index is back within 1% of its record, which was set a week earlier.

The Dow Jones Industrial Average edged up 17.70, or 0.1%, to 21,171.90, and the Nasdaq composite rose 57.65, or 0.7%, to 8,204.14.

More action may arrive in the next two weeks, when a tidal wave of earnings reports is on the schedule. Roughly three-fifths of S&P 500 companies are set to update investors on how much profit they made from April through June, and expectations are generally low.

A slowing global economy and rising costs are weighing on companies, and many investors are more interested in what CEOs say about how President Donald Trump's trade war will affect their future profits than in their results for the spring.

The last couple earnings reporting seasons have been so volatile for stocks that Craig Hodges, portfolio manager at Hodges Funds, said he's recently raised how much cash he's holding in anticipation of bargain-hunting opportunities. Particularly among small stocks that don't get as much attention from Wall Street, Hodges said he's seen steep, overdone drops in price following earnings reports.

"We're sitting on cash right now, knowing that in the next few weeks, there will be a lot of stocks that we like that get hit by 10, 15 or maybe even 20% if they have a miss," he said. "We're not market timers, but after seeing the last two earnings periods, we wished we had a cash balance to take advantage of some of the names that we liked that got hit."

So far this reporting season, which is still in its early going, stocks have dropped a bit more than usual when a company falls short of Wall Street's earnings expectations. Among the 16% of big S&P 500 companies that have already reported their second-quarter results, the average decline has been 2.7% following an earnings miss, slightly more than the 2.6% average over the last five years, according to FactSet.

On the winning end Monday was Halliburton, which reported a bigger profit than Wall Street expected and surged 9.1% for the biggest gain in the S&P 500.

Health care company DaVita jumped 4.7% after it raised its profit forecast for this year and gave a preliminary report on its second-quarter results.

The other big looming event for markets is the Federal Reserve's meeting at the end of the month, when investors expect the central bank to cut interest rates for the first time in more than a decade. Some investors have recently scaled back their expectations for how much the Fed may cut rates, down to a quarter of a percentage point from a half point.

The yield on the 10-year Treasury note slipped to 2.04% from 2.05% late Friday. The two-year Treasury yield, which is more affected by changes in Fed policy, inched up to 1.82% from 1.81%.

The price of crude oil also continued to climb amid heightened tensions in the Persian Gulf area. Iran on Monday announced the arrest of 17 people it accused of spying for the United States, something Trump called "totally false." On Friday, Iran said it seized a British oil tanker.

Benchmark crude oil rose 46 cents to settle at $56.09 a barrel. Brent crude oil, the international standard, rose $79 cents to close at $63.26 a barrel. Wholesale gasoline fell 1 cent to $1.83 per gallon. Heating oil climbed 1 cent to $1.90 per gallon. Natural gas rose 6 cents to $2.31 per 1,000 cubic feet.

Gold rose 20 cents to $1,425.30 per ounce, silver rose 22 cents to $16.34 per ounce and copper fell 3 cents to $2.71 per pound.

The dollar rose to 107.86 Japanese yen from 107.81 yen on Friday. The euro weakened to $1.1211 from $1.1219.

European stock indexes were modestly higher, while Asian markets were weaker.

The FTSE 100 in London added 0.1%, France's CAC 40 rose 0.3% and the DAX in Germany gained 0.2%. Japan's Nikkei 225 index fell 0.2%, the Hang Seng in Hong Kong dropped 1.4% and the Kospi in South Korea was virtually flat.

Besides earnings reports from more than a quarter of all the companies in the S&P 500, investors this week will also be getting updates on the housing industry, manufacturing and the overall U.S. economy. Economists expect a Friday report to show that the U.S. economy slowed to 1.8% annualized growth in the spring from a 3.1% rate in the first three months of the year.


----------



## bigdog

*SEE OF GREEN TODAY*

U.S. stocks marched broadly higher on Wall Street Tuesday as several major companies reported solid second quarter gains.

Investors pushed stocks closer to the record highs they reached just over a week ago. The gains followed several stumbles last week, extending a period of volatility in July as investors weigh a looming rate cut by the Federal Reserve as well as uncertainties over trade and the economy.

Corporate earnings are now in full swing after last week's relatively light load of mixed results. Nearly 150 companies in the S&P 500 will report their financial results through Friday. Analysts are expecting earnings to decline overall for the second quarter in a row.










https://www.usnews.com/news/busines...stocks-rise-on-hopes-for-us-china-trade-talks

*Stocks Close Higher Following Solid Earnings Results*
U.S. stocks marched broadly higher on Wall Street Tuesday as several major companies reported solid second quarter gains.
By Associated Press, Wire Service Content July 23, 2019, at 4:43 p.m. 

By DAMIAN J. TROISE, AP Business Writer

NEW YORK (AP) — U.S. stocks marched broadly higher on Wall Street Tuesday as several major companies reported solid second quarter gains.

Investors pushed stocks closer to the record highs they reached just over a week ago. The gains followed several stumbles last week, extending a period of volatility in July as investors weigh a looming rate cut by the Federal Reserve as well as uncertainties over trade and the economy.

Corporate earnings are now in full swing after last week's relatively light load of mixed results. Nearly 150 companies in the S&P 500 will report their financial results through Friday. Analysts are expecting earnings to decline overall for the second quarter in a row.

"Interestingly, the market seems like it almost doesn't care," said Jason Pride, chief investment officer of private wealth at Glenmede Trust Co.

The earnings downturn has been modest so far and is being tempered by a still expanding economy and a Federal Reserve that has said it is willing to support growth.

The S&P 500 index rose 20.44 points, or 0.7%, to 3,005.47. The Dow Jones Industrial Average rose 177.29 points, or 0.7%, to 27,349.19. The Nasdaq composite rose 47.27 points, or 0.6%, to 8,251.40.

Banks were the clear market leaders throughout the day. JPMorgan Chase, Bank of America and several others gained ground as bond yields rose. The yield on the 10-year Treasury rose to 2.07% from 2.04% late Monday. Higher bond yields allow banks to charge higher interest on loans.

Earnings were the clear focus of the day and the key drivers for much of the market.

Coca-Cola soared 6.1% and reached a record high close after raising its revenue forecast for the year following a solid second quarter. The surprisingly good results helped lift other consumer product makers. Kraft Heinz rose 1.5% and Kellogg rose 3.0%.

Stanley Black & Decker surged 7.2% after it reported second quarter profit well above analysts' forecasts. The tool maker made one of the biggest gains in the industrial sector. General Electric rose 4.3% and 3M rose 1.6%.

Biogen rose 4.9% and Quest gained 5.4% on solid earnings results and helped push the broader health care sector higher.

Other notable earnings results came from toy maker Hasbro, which rose 10% after blowing away Wall Street's second quart profit expectations. The company reported growth for many of its classic games and toys, including the board game Monopoly and Play-Doh. It also reported growth for its digital game "Magic: The Gathering" and got some help from its partnership with Marvel on Avengers and Spider-Man action figures.

Utilities were the only sector to fall as investors dumped defensive holdings and took on more risk.

Homebuilders fell broadly after the National Association of Realtors reported a 1.7% drop in sales of previously owned homes in June. Rising prices and a scarce supply of homes have been making it more difficult for first-time homebuyers. D.R. Horton fell 2.6% and PulteGroup shed 8.3%.

Texas Instruments reported earnings after the closing bell that were far better than analysts were expecting, and its stock jumped 6% in after-hours trading.

The steady flow of corporate results continues Wednesday with companies including AT&T, Caterpillar and Facebook.

European stocks moved broadly higher, though London's FTSE 100 lagged far behind other regional indexes with a gain of just 0.6% after Boris Johnson was elected to lead Britain's Conservative Party, putting him in line to become the next prime minister. That could make it more likely that Britain has a disorderly exit from the European Union.

Germany's DAX soared 1.6% and France's CAC 40 rose 0.9%.

Benchmark crude oil rose 55 cents to settle at $56.77 a barrel. Brent crude oil, the international standard, rose 57 cents to close at $63.83 a barrel. Wholesale gasoline rose 3 cents to $1.86 per gallon. Heating oil climbed 2 cents to $1.92 per gallon. Natural gas fell 1 cent to $2.30 per 1,000 cubic feet.

Gold fell $5.20 to $1,420.10 per ounce, silver rose 7 cents to $16.41 per ounce and copper fell 2 cents to $2.69 per pound.

The dollar rose to 108.26 Japanese yen from 107.86 yen on Monday. The euro weakened to $1.1150 from $1.1211.


----------



## bigdog

Stocks steadily gained ground Wednesday and closed broadly higher on Wall Street as investors rewarded solid earnings results from several large companies.

The S&P 500 got off to a weak start but gained steam and closed at a record high. Smaller stocks far outpaced larger ones and gave the Russell 2000 the biggest gain among major indexes. The Nasdaq gained ground all day and also closed at a record. The Dow Jones Industrial Average fell.

Technology stocks were the brightest spot in the market. A solid earnings report from Texas Instruments pushed the chipmaker's stock higher and made the sector the biggest gainer.

Industrial stocks moved broadly higher after UPS beat Wall Street's financial forecasts. The solid results from the delivery service counteracted steep drops from Boeing and Caterpillar, which both reported weak results.











https://www.usnews.com/news/busines...ise-on-report-of-revived-us-china-trade-talks

*Stocks Hit Record Highs as Investors Reward Solid Earnings*
U.S. stocks closed higher as investors rewarded solid financial results from several large companies.
By Associated Press, Wire Service Content July 24, 2019, at 4:36 p.m

By DAMIAN J. TROISE, AP Business Writer

NEW YORK (AP) — Stocks steadily gained ground Wednesday and closed broadly higher on Wall Street as investors rewarded solid earnings results from several large companies.

The S&P 500 got off to a weak start but gained steam and closed at a record high. Smaller stocks far outpaced larger ones and gave the Russell 2000 the biggest gain among major indexes. The Nasdaq gained ground all day and also closed at a record. The Dow Jones Industrial Average fell.

Technology stocks were the brightest spot in the market. A solid earnings report from Texas Instruments pushed the chipmaker's stock higher and made the sector the biggest gainer.

Industrial stocks moved broadly higher after UPS beat Wall Street's financial forecasts. The solid results from the delivery service counteracted steep drops from Boeing and Caterpillar, which both reported weak results.

Anthem sank 4.5% after the insurer reported higher costs. UnitedHealth Group lost 1.5%. The health care sector fell broadly.

The Russell 2000, which focuses on smaller stocks, outshone every other index. It rose 25.46 points, or 1.6%, to 1,580.42.

The S&P 500 index rose 14.09 points, or 0.5%, to 3,019.56, putting it on track for a weekly gain.

Boeing and Caterpillar weighed down The Dow Jones Industrial Average. It fell 79.22 points, or 0.3%, to 27,269.97.

The Nasdaq rose 70.10 points, or 0.8%, to 8,321.50.

Corporate results have been mixed this week, though investors are jumping on some of the best performers during this latest round. This is a heavy week for financial results, with nearly 150 major companies reporting results through Friday. Stocks have been volatile over the last few weeks as investors assess the results to gain a better picture of the overall economy.

Investors have been treading cautiously as the trade war between the U.S. and China looms over corporate earnings. The uncertainty could continue to sap business confidence, said Scott Wren, senior global equity strategist at Wells Fargo Investment Institute.

"Companies across the world are holding back on capital expenditures as uncertainty reigns supreme," he wrote in a note to investors.

Looking ahead, the market will remain focused on central banks, particularly the Federal Reserve, as they take measures to support economic growth. Investors expect the Federal Reserve to cut interest rates next week.

Stocks continued to rise and fall on their earnings results.

Roomba maker iRobot plummeted 16.9% after slashing its profit and revenue forecasts because of the U.S. trade war with China.

Tupperware Brands plunged 19.1% after the maker of plastic storage containers chopped its profit forecast for the year following a weak second quarter. The company cited lower consumer spending in all of its regions.

Texas Instruments rose 7.4% after surprising investors with a solid profit and sales forecast, helping to ease concerns on Wall Street about weak demand because of the U.S.-China trade war. Chipmakers have been under pressure because of fears that sales in China would feel the brunt of tariffs and technology restrictions.

UPS rose 8.7% as demand for next-day delivery service pushed its second quarter financial results past Wall Street's forecasts. The company has been expanding its delivery service options to meet growing demand from online shopping.

Benchmark crude oil fell 89 cents to settle at $55.88 a barrel. Brent crude oil, the international standard, fell 65 cents to close at $63.18 a barrel. Wholesale gasoline was unchanged at $1.86 per gallon. Heating oil declined 1 cent to $1.91 per gallon. Natural gas fell 8 cents to $2.22 per 1,000 cubic feet.

Gold rose $2.70 to $1,422.80 per ounce, silver rose 14 cents to $16.55 per ounce and copper rose 1 cent to $2.70 per pound.

The dollar fell to 108.20 Japanese yen from 108.26 yen on Tuesday. The euro weakened to $1.1136 from $1.1150.

The yield on the 10-year Treasury fell to 2.05% from 2.07% late Tuesday.


----------



## bigdog

U.S. stocks retreated from record highs on Wall Street Thursday as large companies delivered weak earnings and disappointing forecasts.

The daylong slide marked a turnaround from Wednesday, when a series of solid earnings helped push major indexes to records. This is one of the busiest weeks in the latest round of corporate earnings. The market has been volatile since reports started trickling in last week.

The market has been swinging up and down for the last two weeks as investors reward and punish corporate earnings, but the overall picture shows solid performances. More than 75% of S&P 500 companies reporting have so far beat somewhat tempered forecasts.















https://www.usnews.com/news/busines...igher-korean-kospi-falls-after-missile-launch

*Stocks Slide Over Disappointing Earnings Reports*
U.S. stocks retreated from record highs as large companies delivered weak earnings reports and disappointing forecasts.
By Associated Press, Wire Service Content July 25, 2019, at 5:24 p.m. 

By DAMIAN J. TROISE, AP Business Writer

NEW YORK (AP) — U.S. stocks retreated from record highs on Wall Street Thursday as large companies delivered weak earnings and disappointing forecasts.

The daylong slide marked a turnaround from Wednesday, when a series of solid earnings helped push major indexes to records. This is one of the busiest weeks in the latest round of corporate earnings. The market has been volatile since reports started trickling in last week.

The market has been swinging up and down for the last two weeks as investors reward and punish corporate earnings, but the overall picture shows solid performances. More than 75% of S&P 500 companies reporting have so far beat somewhat tempered forecasts.

"It's a pretty low bar to chin and a lot of companies have chinned it," said Katie Nixon, chief investment officer at Northern Trust Wealth Management.

The S&P 500 index fell 15.89 points, or 0.5%, to 3,003.67. The Dow Jones Industrial Average fell 128.99 points, or 0.5%, to 27,140.98. The Nasdaq composite fell 82.96 points, or 1%, to 8,238.54.

Technology stocks sustained the steepest declines throughout the day. Digital payments company PayPal slid 5.1% after cutting its revenue forecast. Microsoft and Apple also fell. Ford slid 7.5% and sent automakers and consumer-oriented stocks lower after reporting a severe drop in profit that fell shy of analysts' forecasts.

Align Technology plummeted 27% after the maker of the Invisalign dental system gave investors a surprisingly weak forecast because of weak demand in China. The company held down the rest of the health care sector.

American Airlines shed 8.4% after warning investors of the hefty costs because of the grounding of Boeing 737 Max jets. Both companies weighed down the industrial sector.

Tesla slumped 13.6 % after the electric car maker reported a surprisingly sharp loss during the second quarter. It also announced the departure of its longtime chief technology officer.

A 1.9% drop from Facebook pushed communications stocks lower following the social media company's latest disclosure that it is being investigated over allegedly anticompetitive behavior.

More than 36% of S&P 500 companies have reported their latest financial results and investors are still expecting a contraction in overall profit. That would mark the second quarter in a row of lower earnings.

Industrial and technology stocks, which have been contending with the impact of trade disputes and tariffs, will feel some of the most severe profit contractions, according to FactSet.

Amazon reported weak profit for the quarter after the market closed. It fell 1.4% in afterhours trading.

Consumer products giant Colgate-Palmolive and McDonald's will release their results on Friday.

Germany's DAX fell 1.3% after a survey showed that business confidence Europe's largest economy dropped to a six-year low. France's CAC 40 and Britain's FTSE 100 also fell.

Benchmark crude oil rose 14 cents to settle at $56.02 a barrel. Brent crude oil, the international standard, rose 21 cents to close at $63.39 a barrel. Wholesale gasoline rose 2 cents to $1.88 per gallon. Heating oil was unchanged at $1.91 per gallon. Natural gas rose 2 cents to $2.24 per 1,000 cubic feet.

Gold fell $8.90 to $1,413.90 per ounce, silver fell 21 cents to $16.34 per ounce and copper was unchanged at $2.70 per pound.

Bond prices fell. The yield on the 10-year Treasury rose to 2.08% from $2.05% on Wednesday after the government reported that orders to U.S. factories for large manufactured goods rose last month beyond economists' forecasts.

The dollar rose to 108.73 Japanese yen from 108.20 yen on Wednesday. The euro strengthened to $1.1144 from $1.1136.


----------



## bigdog

https://www.usnews.com/news/busines...rise-toward-records-following-strong-earnings

*US Stocks Return to Records Following Strong Earnings*
U.S. stocks pushed to record heights Friday following strong profit reports from Google's parent company, Twitter and other big corporations.
By Associated Press, Wire Service Content July 26, 2019, at 4:29 p.m.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks pushed to record heights Friday following strong profit reports from Google's parent company, Twitter and other big corporations.

Companies are nearly midway through earnings reporting season, and results have generally been better than the dismal expectations that analysts had coming into it. A government report on Friday also showed that U.S. economic growth slowed in the spring, but it was still better than economists expected.

All the reports are emblematic of an economy that's strengthening but still shadowed by a pile of concerns, which only bolsters investors' expectations for the Federal Reserve to cut interest rates at its meeting next week. It would be the first cut in more than a decade, when the Fed was trying to shock the economy out of the Great Recession.

The S&P 500 index rose 22.19 points, or 0.7%, to 3,025.86 and passed its prior record set on Wednesday. The Dow Jones Industrial average gained 51.47, or 0.2%, to 27,192.45, and the Nasdaq composite also set a record after jumping 91.67 points, or 1.1%, to 8,330.21.

Friday's report on the U.S. economy showed that consumer spending remains strong, and employers continue to add jobs every month. But businesses are hesitant to invest, and manufacturing worldwide has slowed amid President Donald Trump's trade war. Inflation also remains low.

Lower interest rates could boost economic activity and goose inflation higher. Investors also see them as a shot of adrenaline for stocks and other risky investments. The European Central Bank earlier this week held its key interest rate steady, but it made clear that more stimulus is on the way.

In the United States, investors think there's virtually 100% certainty that the Fed will cut its benchmark short-term rate on Wednesday, likely by a quarter of a percentage point from its current range of 2.25% to 2.50%.

"Any time you hit a record high, you ask: Is this justified?" said David Joy, chief market strategist at Ameriprise. "Well, it's justified based on the easing cycle that central banks are on, and the absolute level of earnings helps. But growth is sluggish and moderating, earnings are flattish and we've got this overhang of, let's call it geopolitical uncertainty. We say, 'Let's be a little cautious here.'"

If S&P 500 companies are able to report flat earnings growth for the second quarter, it would be a small victory. Analysts came into this earnings reporting season expecting a drop of roughly 3% in earnings per share for S&P 500 companies, according to FactSet.

So far this earnings season, about 44% of companies in the S&P 500 have already reported, and their earnings per share have been up a little more than 1% from year-ago levels. That means analysts are now forecasting a more modest drop for the S&P 500 index overall, closer to 2%.

Alphabet, Google's parent company, soared to one of the biggest gains in the S&P 500 Friday after it joined the list of companies reporting stronger-than-expected profits. It also allayed investors' concerns about advertising trends after reporting stronger revenue growth than Wall Street forecast. Alphabet shares surged 9.6% for their best day in four years.

Twitter jumped 8.9% after it reported stronger user numbers and revenue for the second quarter than investors expected. The big gains for Alphabet and Twitter meant stocks in the communications sector were the best performers in the S&P 500, up 3.2%. That was more than double the gain of any of the other 10 sectors that make up the index.

Sprint and T-Mobile US also jumped after the Justice Department approved their merger, despite fears that the deal could bring higher prices and less competition for customers. Sprint rose 7.4%, and T-Mobile US gained 5.4%.

Treasury yields held relatively steady, as investors continue to settle on expectations for the Federal Reserve to cut short-term rates by only a quarter of a percentage point next week, rather than the half-point cut that some investors were anticipating earlier.

The 10-year Treasury yield remained at 2.07%. The two-year yield, which is more influenced by the Fed's movements, rose to 1.86% from 1.84% late Thursday.

In overseas markets, the French CAC 40 rose 0.6%, the German DAX gained 0.5%. and the FTSE 100 in London climbed 0.8%. Japan's Nikkei 225 slipped 0.5%, the South Korean Kospi fell 0.4% and the Hang Seng in Hong Kong lost 0.7%.

Benchmark U.S. oil rose 18 cents to settle at $56.20 a barrel. Brent crude, the international standard, rose 7 cents to $63.46 a barrel. Wholesale gasoline fell 1 cent to $1.87 per gallon. Heating oil declined 1 cent to $1.90 per gallon. Natural gas fell 7 cents to $2.17 per 1,000 cubic feet.

Gold rose $4.60 to $1,418.50 per ounce, silver fell 1 cent to $16.33 per ounce and copper fell 2 cents to $2.68 per pound.

The dollar fell to 108.71 Japanese yen from 108.73 yen on Thursday. The euro strengthened to $1.1126 from $1.1144.

3823


----------



## bigdog

Major U.S. stock indexes closed mostly lower Monday as investors turned cautious ahead of a key Federal Reserve interest policy announcement and other potentially market-moving developments on tap for this week.

Banks, retailers and communications companies took the brunt of the selling. Those losses were partially offset by gains in health care and household goods makers. Utilities and real estate stocks also rose, as traders shifted funds into less risky assets.

The modest slide cut into some of the market's gains from Friday, when the benchmark S&P 500 hit an all-time high.

Traders are expecting that the Federal Reserve will announce on Wednesday that it is cutting interest rates for the first time in a decade to help ensure U.S. economic growth in the face of trade uncertainty.









https://www.usnews.com/news/busines...stly-fall-as-market-eyes-us-china-trade-talks

*US Stocks Slip Ahead of Key Fed Meeting, Busy Earnings Week*
Major U.S. stock indexes closed mostly lower Monday as investors turned cautious ahead of a key Federal Reserve interest policy announcement and other potentially market-moving developments on tap for this week.
By Associated Press, Wire Service Content July 29, 2019, at 4:54 p.m. 

By ALEX VEIGA, AP Business Writer

Major U.S. stock indexes closed mostly lower Monday as investors turned cautious ahead of a key Federal Reserve interest policy announcement and other potentially market-moving developments on tap for this week.

Banks, retailers and communications companies took the brunt of the selling. Those losses were partially offset by gains in health care and household goods makers. Utilities and real estate stocks also rose, as traders shifted funds into less risky assets.

The modest slide cut into some of the market's gains from Friday, when the benchmark S&P 500 hit an all-time high.

Traders are expecting that the Federal Reserve will announce on Wednesday that it is cutting interest rates for the first time in a decade to help ensure U.S. economic growth in the face of trade uncertainty.

Investors will also be wading through the heaviest slate of the current corporate earnings reporting season this week. And they'll be keeping an eye on trade negotiations between the U.S. and China, which resume Tuesday, and on a key government jobs report due out Friday.

"This is a marking time sort of day with earnings coming up, with the Fed coming up, with the economic data coming up later this week," said Willie Delwiche, investment strategist at Baird. "If anything, you have a modest reaction to the all-time highs that we saw on Friday and a chance to take profits, but not much conviction either way."

The S&P 500 index slipped 4.89 points, or 0.2%, to 3,020.97. The Dow Jones Industrial Average rose 28.90 points, or 0.1%, to 27,221.35.

The Nasdaq composite fell 36.88 points, or 0.4%, to 8,293.33. The Russell 2000 index of smaller companies slid 9.94, or 0.6%, to 1,569.02.

Slightly more stocks rose than declined on the New York Stock Exchange. Major stock indexes in Europe closed mostly lower.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.06% from 2.08% late Friday.

Despite Monday's selling, the market's record run at the end of last week kept the broader market on track for another month of gains. The S&P 500 is up 2.7% in July and the Nasdaq is up 3.6%.

Even with a busy week of corporate earnings on deck this week, Wall Street will be focused mainly on the outcome of the Fed's meeting of policymakers.

The market expects the central bank will cut its benchmark short-term rate on Wednesday to help ensure U.S. economic growth in the face of trade uncertainty. Investors are expecting the Fed will cut its rate by a quarter of a percentage point from its current range of 2.25% to 2.50%. That would be the Fed's first rate cut in a decade.

Wall Street is betting that a Fed rate cut would give the economy, and stock prices, a boost. But that depends more on whether the Fed drops any hints about how inclined it might be to cut rates multiple times this year.

"Do they talk about this as a cut and look for another cut, or is there a cut and this is going to be it?" Delwiche said. "The market is expecting somewhere around three cuts over the course of the second half (of 2019). It seems to me the Fed is going to want to start pushing back against that expectation. How it achieves that could be the driver for stocks in the near-term."

Financial stocks accounted for a big share of the selling Monday. Raymond James Financial slid 3.5% and Wells Fargo & Co. dropped 2.1%. The sector fell as bond yields dropped, which pulls interest rates on mortgages and other loans lower.

Retailers and other consumer-oriented companies also weighed on the market, with Amazon sliding 1.6% and discount chain Dollar Tree losing 2.1%. Facebook dropped 1.9% and Dish Network fell 3.1% as part of a broad slump in communications stocks.

Gains in health care companies partly offset some of those losses. The sector was mostly propped up by pharmaceutical companies ahead of some key earnings. Some corporate deal news involving health companies also helped boost the sector.

Pfizer slid 3.8% after the drug company said it will spin off one of its units, Upjohn, which will then combine with Mylan, which makes generic pharmaceuticals. Upjohn sells one-time blockbusters like Viagra and Lipitor that have lost patent protection. Mylan soared 12.6%.

Cancer diagnostics company Exact Sciences recovered most of an early slide, shedding 0.3%, after announcing a cash and stock buyout of diagnostic test maker Genomic Health, which rose 6.4%.

Cooper Tire & Rubber's latest quarterly report card helped put traders in a selling mood. The stock tumbled 9.6% after the company's results fell far short of Wall Street's forecasts because of a weak tire market in China and Europe. Higher tariff costs and a lingering weak tire market will continue to hurt the company in 2019 and it no longer expects volume growth.

Booz Allen Hamilton rose 3.4% after the defense contractor's fiscal first quarter profit and revenue beat analysts' estimates.

Companies are just about halfway done with corporate earnings season and the slowdown in profit growth isn't as severe as analysts initially forecast. Among the big companies due to serve up their results this week are Apple on Tuesday and General Motors on Thursday.

Trade also remains on investors' radar. The U.S. and China head into another round of trade negotiations on Tuesday. Wall Street is hoping the nations can avoid another escalation in tariffs like the one that occurred two months ago after talks fell apart.

Investors are also awaiting the government's monthly jobs report for July, which will be released on Friday.

Benchmark crude oil rose 67 cents to settle at $56.87 a barrel. Brent crude oil, the international standard, gained 25 cents to close at $63.71 a barrel. Wholesale gasoline fell 1 cent to $1.86 per gallon. Heating oil declined 1 cent to $1.91 per gallon. Natural gas fell 3 cents to $2.14 per 1,000 cubic feet.

Gold rose $1.13 to $1,419.60 per ounce, silver rose 4 cents to $16.37 per ounce and copper rose 1 cent to $2.69 per pound.

The dollar rose to 108.80 Japanese yen from 108.71 yen on Friday. The euro strengthened to $1.1146 from $1.1126.


----------



## bigdog

A mixed batch of corporate earnings helped drag the major U.S. stock indexes slightly lower Tuesday, pulling the market farther from its recent record highs for the second straight day.

Mixed or disappointing reports from Under Armour, Dish Network, Corning, HCA and Beyond Meat and others weighed on the market. Capital One Financial slumped after the credit card issuer and bank disclosed that roughly 100 million people had some personal information stolen by a hacker.

The Dow Jones Industrial Average dropped 23.33 points, or 0.1%, to 27,198.02. The Nasdaq composite slid 19.71 points, or 0.2%, to 8,273.61.










https://www.usnews.com/news/busines...-higher-as-china-us-trade-talks-set-to-resume

*US Stocks End Slightly Lower Amid Mixed Company Earnings*
A mixed batch of corporate earnings helped drag the major U.S. stock indexes slightly lower Tuesday, pulling the market farther from its recent record highs for the second straight day.
By Associated Press, Wire Service Content July 30, 2019, at 5:03 p.m.

By ALEX VEIGA, AP Business Writer

A mixed batch of corporate earnings helped drag the major U.S. stock indexes slightly lower Tuesday, pulling the market farther from its recent record highs for the second straight day.

Mixed or disappointing reports from Under Armour, Dish Network, Corning, HCA and Beyond Meat and others weighed on the market. Capital One Financial slumped after the credit card issuer and bank disclosed that roughly 100 million people had some personal information stolen by a hacker.

Apple climbed 3% in after-hours trading after its latest results handily beat analysts' estimates.

Homebuilders also bucked the broader decline after D.R. Horton reported strong quarterly results and positive gains in new home orders.

This week's modest market pullback came as investors looked cautiously ahead to a key policy update from the Federal Reserve on Wednesday. That's when the central bank is widely expected to cut its benchmark interest rate for the first time in a decade. The Fed has decided that a rate cut now — and possibly one or more additional cuts to follow — could help inoculate the economy against a potential downturn.

"There's just a lot of confusion on whether is there really going to be a rate cut, which the market seems to think there will be, and then if there's going to be any indication of further rate cuts," said Karyn Cavanaugh, senior markets strategist at Voya Investment Management.

The S&P 500 index fell 7.79 points, or 0.3%, to 3,013.18. Despite its two-day slide, the benchmark index remains within 0.4% of its all-time high set on Friday.

The Dow Jones Industrial Average dropped 23.33 points, or 0.1%, to 27,198.02. The Nasdaq composite slid 19.71 points, or 0.2%, to 8,273.61.

Small-company stocks fared better than the rest of the market. The Russell 2000 index rose 16.57 points, or 1.1%, to 1,585.60.

Major stock indexes in Europe finished lower.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.06% from 2.05% late Monday.

Even with the broader market pullback this week, indexes are still poised to close July with solid gains. The S&P 500 is up 2.4% for the month and the Nasdaq is up 3.3%. The Dow is up 2.3%.

Technology stocks accounted for the biggest share of the selling Tuesday. Communications services stocks, retailers and health care companies also weighed on the market. Energy stocks led the gainers, benefiting from a 2.1% pickup in U.S. crude oil prices.

Capital One Financial fell 5.9% after the bank said a hacker gained access to the personal information of more than 100 million people.

Companies are about midway through earnings reporting season, and results have generally been better than the dismal expectations that analysts had coming into it. Still, most of the companies that reported disappointing quarterly results Tuesday put investors in a selling mood.

Gartner led the technology sector decline, tumbling 19% after the research company cut its earnings and revenue guidance.

Under Armour plunged 12.2% after the sports apparel company's revenue fell short of Wall Street forecasts. The company also said it expects a slight sales decline in North America this year and its overall profit forecast for 2019 is weaker than analyst forecasts.

Dish Network slid 8.7% after the satellite television provider's second quarter profit fell short of analysts' forecasts.

Beyond Meat slumped 12.3% after the plant-based burger maker reported a bigger loss than Wall Street anticipated during the second quarter and announced a stock sale. The loss and secondary stock offering overshadowed solid sales results and an increased sales forecast.

Offshore drilling company McDermott International plunged 35.3% after it slashed its financial forecast and told investors it will register a loss in 2019.

Other companies got a boost after their latest results impressed investors.

Procter & Gamble led consumer products makers higher after reporting results that easily beat Wall Street's forecasts. The stock gained 3.8%.

D.R. Horton climbed 5.7% after the homebuilder's fiscal third quarter earnings and revenue topped estimates. The builder, which touted increased new home orders and prices, also authorized up to $1 billion in share buybacks. Horton's results helped boost most other homebuilder stocks.

Traders also had their eye on the trade dispute between the U.S. and China, as negotiators began a new round of talks.

The lingering trade war between the U.S. and China has been cutting into corporate profit for some industries all year and has investors concerned that it will continue to crimp business investment and growth. Delegates from the U.S. and China are meeting in Shanghai this week in the latest round of negotiations, months after the trade spat escalated with more tariffs.

President Donald Trump ramped up criticism of Beijing just as the new round of talks began Tuesday. In a series of tweets, Trump claimed China is trying to hold off on an agreement until after the next U.S. elections. Trump threatened to get "much tougher" with China on trade if he wins in 2020.

The remarks didn't appear to have much of an impact on the market, however.

"Investors are coming to the realization that this is going to be a long and drawn-out process, and they can't bet the farm every single time that there's some type of announcement," Cavanaugh said.

Beyond earnings, trade and, investors were looking ahead to other potentially market-moving events this week, including a government jobs report on Friday.

Benchmark crude oil rose $1.18 to settle at $58.05 a barrel. Brent crude oil, the international standard, gained $1.01 to close at $64.72 a barrel. Wholesale gasoline added 4 cents to $1.90 per gallon. Heating oil climbed 3 cents to $1.94 per gallon. Natural gas was unchanged at $2.14 per 1,000 cubic feet.

Gold rose $9.30 to $1,429.70 per ounce, silver rose 13 cents to $16.50 per ounce and copper fell 4 cents to $2.67 per pound.

The dollar fell to 108.60 Japanese yen from 108.80 yen on Monday. The euro strengthened to $1.1156 from $1.1146.


----------



## bigdog

Stocks fell and bond yields rose on Wall Street Wednesday after the Federal Reserve lowered its key interest rate for the first time in a decade but left investors feeling uncertain about the likelihood of further cuts.

The quarter-point cut announced by the central bank was widely expected, so investors focused on Chairman Jerome Powell's remarks during a news conference for hints about the Fed's future plans.

Powell said that there could be more cuts, but that the central bank was not intending to embark on a long cycle of lowering interest rates. He characterized the rate cut as a "mid-cycle adjustment."

The remarks sent stocks into a skid that briefly knocked the Dow Jones Industrial Average down more than 470 points. Prices of short-term U.S. government bonds fell, sending yields higher.

The Dow Jones Industrial Average lost 333.75 points, or 1.2%, to 26,864.27. The Dow was briefly down 478 points










https://www.usnews.com/news/busines...-fall-as-markets-look-to-us-fed-rate-decision

*Stocks Sink as Powell Dents Hopes for Multiple Rate Cuts*
Stocks fell and bond yields rose on Wall Street Wednesday after the Federal Reserve lowered its key interest rate for the first time in a decade but left investors feeling uncertain about the likelihood of more cuts.
By Associated Press, Wire Service Content July 31, 2019, at 4:45 p.m. 

By ALEX VEIGA, AP Business Writer

Stocks fell and bond yields rose on Wall Street Wednesday after the Federal Reserve lowered its key interest rate for the first time in a decade but left investors feeling uncertain about the likelihood of further cuts.

The quarter-point cut announced by the central bank was widely expected, so investors focused on Chairman Jerome Powell's remarks during a news conference for hints about the Fed's future plans.

Powell said that there could be more cuts, but that the central bank was not intending to embark on a long cycle of lowering interest rates. He characterized the rate cut as a "mid-cycle adjustment."

The remarks sent stocks into a skid that briefly knocked the Dow Jones Industrial Average down more than 470 points. Prices of short-term U.S. government bonds fell, sending yields higher.

Stocks erased some of their losses later during Powell's news conference, when he seemed to shift his message to leave open the possibility that the Fed would cut rates again.

"Clearly, the market is disappointed," said Quincy Krosby, chief market strategist at Prudential Financial. "They wanted a more emphatic message from the Fed that this was in fact the beginning of a trend."

The S&P 500 index dropped 32.80 points, or 1.1%, to 2,980.38. The benchmark index had its worst day in two months. It hit an all-time high just last Friday.

The Dow Jones Industrial Average lost 333.75 points, or 1.2%, to 26,864.27. The Dow was briefly down 478 points.

The Nasdaq composite fell 98.19 points, or 1.2%, to 8,175.42. The Russell 2000 index of smaller companies slid 10.99 points, or 0.7%, to 1,574.61.

Trading was muted for much of Wednesday until the Fed issued its interest rate policy statement at 2 p.m. Eastern Time. The rate cut was widely expected, so the market didn't have much of an initial reaction. That changed swiftly as Powell spoke, casting doubt on the prospects for further rate cuts.

"The market was expecting a cut of 25 basis points with an actively dovish message, meaning there would be more rate cuts coming," Krosby said. "But once he started to talk about the fact that this was a mid-cycle adjustment ... the market always wants more."

The Fed hopes the rate cut will counter threats to the U.S. economy ranging from uncertainties caused by the nation's trade disputes to chronically low inflation and a dimming global growth outlook.

Fed officials had signaled in recent weeks their readiness to take action to help shore up the U.S. economy, which faces threats to growth from the prolonged trade war with China.

The central bank cut its benchmark rate by a quarter-point to a range of 2% to 2.25%. It's the first rate cut since December 2008 during the depths of the Great Recession, when the Fed slashed its rate to a record low near zero and kept it there until 2015. After that, the Fed went on to make nine quarter-point rate increases from December 2015 to December 2018.

The economy is far healthier now than it was in 2008, despite risks to what's become the longest expansion on record.

Traders have been betting the rate cut could help give the economy, and stock prices, a boost. It would help lower rates on consumer and business loans, which would encourage borrowing and possibly energize the economy.

Still, some on Wall Street had believed the Fed might act more aggressively in cutting rates by half a percentage point rather than the quarter-point cut it wound up making. Disappointment over that may have also put traders in a selling mood.

The Fed did release a statement that repeated a pledge to "act as appropriate to sustain the expansion," wording that the financial markets have previously interpreted as a signal for possible future rate cuts.

The 10-year Treasury yield fell to 2.01% from 2.06% late Tuesday, a big move. The two-year yield, which is more influenced by the Fed's movements, rose sharply to 1.86% from 1.83%.

Stocks have been mostly pulling back after setting records last week. Wednesday's losses were widespread, with technology, health care and consumer-oriented companies accounting for much of the market's late-afternoon tumble.

In addition to keeping an eye on the Fed, investors continued to pore through a heavy flow of corporate earnings.

Companies are about midway through the earnings reporting season, and results have generally been better than the dismal expectations that analysts had coming into it.

Apple rose 2% after beating Wall Street's profit and revenue forecasts for the quarter while slamming the brakes on the decline of iPhone sales in China. Sales of the company's best-known product are still sputtering, but the company has seen increasing revenue contributions from digital services, such as music.

Dine Brands Global, the owner of IHOP and Applebee's, fell 5.1% after slashing its financial forecast for the year. The company cut forecasts for sales at existing Applebee's and IHOP locations, along with overall profit, following a disappointing second quarter earnings report.

Molson Coors Brewing also slid 5.1% after the company reported a global decline in volume and sales during the second quarter that weighed down profit. The maker of Molson and Coors fell short of analysts' profit and revenue forecasts.

Benchmark crude oil rose 53 cents to settle at $58.58 a barrel. Brent crude oil, the international standard, rose 45 cents to close at $65.17 a barrel. Wholesale gasoline was unchanged at $1.90 per gallon. Heating oil climbed 2 cents to $1.96 per gallon. Natural gas rose 9 cents to $2.23 per 1,000 cubic feet.

Gold fell $3.60 to $1,426 10 per ounce, silver fell 15 cents to $16.35 per ounce and copper fell 1 cent to $2.66 per pound.


----------



## bigdog

Stocks slumped Thursday and bond prices spiked after President Donald Trump surprised markets with a new 10% tariff on $300 billion worth of goods from China beginning next month.

The news erased a broad rally on Wall Street, leading to the market's fourth straight loss. Bond prices surged, sending yields sharply lower, as investors sought safety.

The price of U.S. crude oil skidded nearly 8%, its biggest drop in more than four years and a signal that investors fear the economy could slow down.

Investors were taken off guard by the tariff announcement because the White House had said a day earlier that Beijing had promised to buy more farm goods. That came just as the latest round of trade talks were ending.

The Dow Jones Industrial Average fell 280.85 points, or 1%, to 26,583.42. The average briefly swung about 600 points as the sell-off intensified.










https://www.usnews.com/news/busines...s-follow-wall-street-lower-after-fed-rate-cut

*Stocks Fall as Rally Gives Way to US-China Trade War Worries*
Stocks slumped Thursday and bond prices spiked after President Donald Trump surprised markets with a new 10% tariff on $300 billion worth of goods from China beginning next month.
By Associated Press, Wire Service Content Aug. 1, 2019, at 5:11 p.m..

By ALEX VEIGA, AP Business Writer

Stocks slumped Thursday and bond prices spiked after President Donald Trump surprised markets with a new 10% tariff on $300 billion worth of goods from China beginning next month.

The news erased a broad rally on Wall Street, leading to the market's fourth straight loss. Bond prices surged, sending yields sharply lower, as investors sought safety.

The price of U.S. crude oil skidded nearly 8%, its biggest drop in more than four years and a signal that investors fear the economy could slow down.

Investors were taken off guard by the tariff announcement because the White House had said a day earlier that Beijing had promised to buy more farm goods. That came just as the latest round of trade talks were ending.

Companies that rely heavily on doing business with China took the brunt of the selling Thursday. Electronics retailer Best Buy went from a slight gain to a drop of 10.8% in heavy trading. Apple went from a gain of 1.4% to a loss of 2.2%.

"Investors never like to be taken by surprise, and that's what happened today," said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 index dropped 26.82 points, or 0.9%, to 2,953.56. The index has fallen for four straight days since setting an all-time high on Friday.

The Dow Jones Industrial Average fell 280.85 points, or 1%, to 26,583.42. The average briefly swung about 600 points as the sell-off intensified.

The Nasdaq composite lost 64.30 points, or 0.8%, or 8,111.12. The Russell 2000 index of small companies slid 23.84 points, or 1.5%, to 1,550.76.

The escalation in the long-running and costly trade dispute comes only a couple of days after both sides resumed negotiations. In a series of tweets, Trump noted that while the slow-moving trade talks have been "constructive," China has not followed through on some prior agreements.

The new tariff would take effect Sept. 1. The U.S. has already applied tariffs of 25% on $250 billion worth of goods from China. Beijing has retaliated with tariffs on $110 billion in American goods, including agricultural products, in a direct shot at Trump supporters in the U.S. farm belt.

Unlike the earlier set of tariffs, which were meant to minimize the impact on ordinary Americans by targeting industrial goods, the new ones would affect a wide range of consumer products.

The tariff announcement came a day after Trump expressed frustration that the Federal Reserve isn't cutting interest rates more aggressively.

The Fed cut its key interest rate for the first time in a decade Wednesday, citing uncertainty over the U.S. trade conflicts as a factor in the decision to lower rates in an otherwise healthy economy. However, Fed Chairman Jerome Powell suggested the central bank was not embarking on an extended cycle of cutting rates, as many investors had hoped.

Banks, industrials and consumer discretionary were among the hardest-hit sectors. Bank of America dropped 3.9%, Boeing slid 2% and Gap tumbled 7.9%.

Energy stocks also fell sharply as crude oil prices sank. Exxon Mobil fell 2.6%.

Utilities and real estate stocks rose as traders shifted money into more stable, high-yield stocks.

Prices for U.S. government bonds rose sharply, sending yields lower. The yield on the 10-year Treasury fell to 1.90%, the lowest level since the 2016 election. That yield, a benchmark used to set interest rates on mortgages and other loans, has been declining steadily since November, when it traded as high as 3.23%.

Meanwhile, the yield on the 2-year Treasury note slid to 1.73% from 1.87% late Wednesday, a very large move.

The latest jump in bond prices is signaling that investors still feel there is a risk of an economic downturn, said Michelle Girard, chief U.S. economist at NatWest Markets.

"The feeling remains that this is not going to be one-and-done and the Fed is still going to have to lower rates again this year," Girard said.

The price of U.S. crude oil skidded 7.9%, the largest drop since February 2015.

Traders continued to pore over a steady flow of corporate earnings Thursday, with several big-name companies reporting surprisingly good results. The latest round of reports has been better than Wall Street initially expected just a month ago.

Investors still have some key financial reports to look out for this week. Oil companies Exxon and Chevron will report results on Friday. The government will also release its employment report for July on Friday.

Qualcomm fell 2.7% after the chipmaker gave investors a surprisingly weak profit and revenue forecast because of problems in China. A ban on exports to China's Huawei, which is part of the ongoing trade war between the U.S. and China, is hanging over the company.

The price of benchmark U.S. crude oil fell $4.63 to settle at $53.95 a barrel. Brent crude oil, the international standard, sank $4.55 to close at $60.50 a barrel.

Wholesale gasoline fell 11 cents to $1.75 per gallon. Heating oil declined 11 cents to $1.85 per gallon. Natural gas fell 2 cents to $2.20 per 1,000 cubic feet.

Gold fell $5.20 to $1,420.90 per ounce, silver fell 23 cents to $16.12 per ounce and copper was unchanged at $2.66 per pound.

The dollar fell to 107.33 Japanese yen from 108.77 yen on Wednesday. The euro strengthened to $1.1082 from $1.1085.


----------



## bigdog

Investors rattled by President Donald Trump's latest escalation in his trade war with China drove another round of selling on Wall Street Friday.

The latest losses marked the fifth straight drop for the S&P 500 and the worst week of the year for the market just seven days after the benchmark index hit an all-time high.

The selling picked up a day after Trump shocked markets by promising 10% tariffs on all the Chinese imports that haven't already been hit with tariffs of 25%. China struck back Friday, saying it will take "necessary countermeasures" if Trump follows through on the new tariffs, which would kick in next month.

The re-escalation in tensions between the world's largest economies has raised worries about a global recession. Investors have responded by selling stocks and buying gold and government bonds. The heightened tensions have also raised Wall Street's expectations that the Federal Reserve will be forced to cut interest rates several times to cushion the trade war's blow.

Gold rose $27.70 to $1,445.60 per ounce.

The Dow Jones Industrial Average dropped 98.41 points, or 0.4%, to 26,485.01. The average had briefly fallen by 334 points.

The Dow Dropped 98 Points Because Tariffs Might Finally Hit Home















https://www.usnews.com/news/busines...n-stocks-plunge-on-us-china-trade-war-worries

*S&P 500 Posts Its Worst Week of 2019 as Trade Tensions Flare*
Investors rattled by President Donald Trump's latest escalation in his trade war with China drove another round of selling on Wall Street Friday.
By Associated Press, Wire Service Content Aug. 2, 2019, at 5:22 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

Investors rattled by President Donald Trump's latest escalation in his trade war with China drove another round of selling on Wall Street Friday.

The latest losses marked the fifth straight drop for the S&P 500 and the worst week of the year for the market just seven days after the benchmark index hit an all-time high.

The selling picked up a day after Trump shocked markets by promising 10% tariffs on all the Chinese imports that haven't already been hit with tariffs of 25%. China struck back Friday, saying it will take "necessary countermeasures" if Trump follows through on the new tariffs, which would kick in next month.

The re-escalation in tensions between the world's largest economies has raised worries about a global recession. Investors have responded by selling stocks and buying gold and government bonds. The heightened tensions have also raised Wall Street's expectations that the Federal Reserve will be forced to cut interest rates several times to cushion the trade war's blow.

"The threat of additional tariffs on China and the lack of any progress in the trade negotiations again have made investors more worried that the disruptions which have led the Fed to need to cut rates might in fact escalate faster than the positive impact of rate cuts," said Kate Warne, chief investment strategist at Edward Jones.

The S&P 500 fell 21.51 points, or 0.7%, to 2,932.05. The Dow Jones Industrial Average dropped 98.41 points, or 0.4%, to 26,485.01. The average had briefly fallen by 334 points.

The Nasdaq composite, which is heavily weighted with technology stocks, lost 107.05 points, or 1.3%, to 8,004.07. Smaller company stocks also fell sharply. The Russell 2000 index gave up 17.11 points, or 1.1%, to 1,533.66.

Despite the weekly loss, the major indexes are all up solidly this year, led by the Nasdaq's 20.6% gain. The S&P 500 is up nearly 17%.

Technology companies accounted for much of Friday's sell-off, which lost some strength toward the end of the day. Communications services, consumer discretionary and energy stocks also bore a big share of the losses. Investors shifted money into bonds and stocks traditionally seen as less risky: real estate and utilities.

The government's monthly jobs report hewed close to economists' expectations, showing a slowdown in hiring last month. But analysts said it was overshadowed by worries about trade and what the Fed could do about it.

The Fed cut interest rates Wednesday and Chairman Jerome Powell cited "trade policy uncertainty" as a major reason for the move. But he stopped short of promising a long cycle of rate cuts, which left investors disappointed and Trump tweeting that "as usual, Powell let us down."

The next day came Trump's tweet on tariffs, and investors now say there's a 98% probability that the Fed will cut rates again at its next meeting in September. That's up from a roughly 50% probability Wednesday afternoon.

"We just ratcheted up the trade conflict and now that makes the Fed much more likely to cut," said Randy Frederick, vice president of trading & derivatives at Charles Schwab.

Traders see low rates as steroids for stocks and other risky investments because they make bonds less attractive in comparison. By making borrowing cheaper, low rates can also help goose the economy.

But the Fed has less ammunition than in the past to cut rates because they're already historically low. The federal funds rate sits at a range of 2% to 2.25%, compared with the 5.25% perch it sat at before the Great Recession.

Rate cuts alone also may not be able to fully counteract the possible negative repercussions of the trade war.

Trade uncertainty has been weighing on business investment spending, and this latest escalation only adds to it. "It will be important to monitor business sentiment surveys to see whether there is a significant impact on the demand for workers — if businesses stop hiring, this would greatly increase the risk of a recession," UBS Global Wealth Management's Chief Investment Officer Mark Haefele said in a report.

The latest round of announced tariffs, which would go into effect Sept. 1, more directly affect U.S. consumers shopping at Wal-Mart or Target. If Trump ramps them up to 25% and keeps them there for four to six months, Morgan Stanley economists say they would expect a recession within nine months.

The concerns about the trade war and Fed have also blotted out what's been a better-than-expected earnings reporting season. Roughly three quarters of S&P 500 companies have updated investors on how much profit they made from April through June, and earnings for S&P 500 companies are on pace for a drop of 1% from a year ago. While weak, that's still better than the nearly 3% drop that analysts were earlier forecasting, according to FactSet.

Treasury yields were mixed. The 10-year yield fell to 1.85% from 1.89% late Thursday. It's close to its lowest point since Trump's election in 2016. The two-year yield held steady at 1.71%.

Markets abroad sold off more heavily in their first opportunity to trade following Trump's tariff tweet. Markets in France and Germany dropped more than 3%, while stocks in Japan and Hong Kong fell more than 2%.

U.S. crude oil rose $1.71, or 3.2%, to settle at $55.66 a barrel, recovering about a third of its plunge from the day before. Brent crude, the international standard, gained $1.39 to close at $61.89 a barrel.

Gold rose $27.70 to $1,445.60 per ounce. Silver rose 10 cents to $16.22 per ounce and copper fell 9 cents to $2.57 per pound.

Wholesale gasoline rose 3 cents to $1.78 per gallon. Heating oil climbed 4 cents to $1.89 per gallon. Natural gas fell 8 cents to $2.12 per 1,000 cubic feet.

The dollar fell to 106.55 Japanese yen from 107.33 yen on Thursday. The euro strengthened to $1.1113 from $1.1082.

4745


----------



## bigdog

Not looking good in our region today Mon 05 Aug 2019 4:02 PM (Sydney time)


----------



## bigdog

Australia's *S&P/ASX 200 closed 1.9 per cent lower* and *Hong Kong's Hang Seng index is currently down nearly 3 per cent* after equity markets baulked at China's decision to let its yuan devalue below a key level against the US dollar. Around 11.15am local time the Chinese off-shore currency, the yuan, dropped below the 7-yuan-for-$US1 for the first time.

The 200 index started sinking with first iron ore stocks and then technology stocks tumbling. The index ended the day with *178 of its 200 companies in red*. The technology sector ended 5.2 per cent lower, materials 2.8 per cent lower, and industrials 2.3 per cent lower.

*BHP took away 15 points with a 3.6 per cent fall to $37.38*, *CSL fell 2.4 per cent to $226.45*, and *Rio Tinto fell 3.5 per cent to $91.49*. Fortescue is currently at three-month lows, falling 14.4 per cent since 31 July.

*Appen closed 10.6 per cent lower at $26.87*, *Bellamy's closed 6.8 per cent lower at $9.12*, and *Afterpay Touch closed at the lowest price since 16 July after dropping 7.8 per cent*.


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## bigdog

*Thank you Donnie Boy for your stuff up and for all being red across the world!!*

U.S. stocks plunged to their worst loss of the year Monday and investors around the world scrambled to sell on worries about how much President Donald Trump's worsening trade war will damage the global economy.

China let its currency, the yuan, drop to its lowest level against the dollar in more than a decade, a move that Trump railed against as "currency manipulation." It also halted purchases of U.S. farm products. The moves follow Trump's tweets from last week that threatened tariffs on about $300 billion of Chinese goods, which would extend tariffs across almost all Chinese imports.

The escalating dispute between the world's largest economies is rattling investors unnerved about a global economy that was already slowing and falling U.S. corporate profits.

*The S&P 500 dropped 87.31 points, or 3%, to 2,844.74 for its worst loss since December, when the market was wrapped in the throes of recession fears. It was down as much as 3.7% in the afternoon.*

*The Dow Jones Industrial Average lost 767.27, or 2.9%, to 25,717.74, and the Nasdaq composite fell 278.03, or 3.5%, to 7,726.04.*

"A 3% drop in a day is very significant, and you're seeing sizeable moves in every major foreign market," said Rich Weiss, chief investment officer of multi-asset strategies at American Century Investments.

*"I am surprised at the market's surprise at China's retaliation," he said. "We started a fight, and when the opponent punches back, I'm not sure why we're surprised."*















https://www.usnews.com/news/busines...asian-stock-tumble-after-china-lets-yuan-sink

*S&P 500 Plunges in Worst Loss of Year as Trade War Escalates*
U.S. stocks nosedived as China's currency fell sharply and stoked fears that the trade war between the U.S. and China will escalate further, causing more damage to the global economy.
By Associated Press, Wire Service Content Aug. 5, 2019, at 5:01 p.m.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks plunged to their worst loss of the year Monday and investors around the world scrambled to sell on worries about how much President Donald Trump's worsening trade war will damage the global economy.

China let its currency, the yuan, drop to its lowest level against the dollar in more than a decade, a move that Trump railed against as "currency manipulation." It also halted purchases of U.S. farm products. The moves follow Trump's tweets from last week that threatened tariffs on about $300 billion of Chinese goods, which would extend tariffs across almost all Chinese imports.

The escalating dispute between the world's largest economies is rattling investors unnerved about a global economy that was already slowing and falling U.S. corporate profits.

The S&P 500 dropped 87.31 points, or 3%, to 2,844.74 for its worst loss since December, when the market was wrapped in the throes of recession fears. It was down as much as 3.7% in the afternoon.

The Dow Jones Industrial Average lost 767.27, or 2.9%, to 25,717.74, and the Nasdaq composite fell 278.03, or 3.5%, to 7,726.04.

"A 3% drop in a day is very significant, and you're seeing sizeable moves in every major foreign market," said Rich Weiss, chief investment officer of multi-asset strategies at American Century Investments.

"I am surprised at the market's surprise at China's retaliation," he said. "We started a fight, and when the opponent punches back, I'm not sure why we're surprised."

The sell-off began Monday in Asia, where indexes lost more than 1%, and intensified as it swept westward through Europe to the Americas. Investors in search of safety herded into U.S. government bonds, which sent yields plunging.

The yield on the 10-year Treasury note, which rises with expectations of stronger economic growth and inflation, fell to its lowest level since Trump's 2016 election energized markets, down to 1.72% from 1.85% late Friday. The yield on the two-year note, which is more influenced by interest-rate moves from the Federal Reserve, sank to 1.58% from 1.71%. Both are unusually large moves.

A warning light of recession in the bond market also began shining more brightly, which traders said may have added to the selling pressure on stocks. When short-term Treasury yields are higher than long-term rates, a rule of thumb says a recession may arrive in about a year. The three-month yield was at 2.00% Monday afternoon, 0.28 percentage points higher than the 10-year's yield. A month ago, it was 0.21 points higher.

"The market sell-off is showing that there is a severe lack of confidence that this is going to work out for us economically, at least in the short term," Weiss said.

Of course, the U.S. economy is still growing, the unemployment rate remains close to its healthiest level in nearly half a century and U.S. stock indexes set record highs just over a week ago. But the escalating trade tensions and investors' disappointment that the Federal Reserve didn't commit to a lengthy series of interest-rate cuts at its meeting last week have since sent the S&P 500 on a six-day losing streak, its longest since October. The S&P 500 is 6% below its record.

"A recession is still unlikely, but the probability of it is higher, still at less than 20%," said Nate Thooft, head of global asset allocation at Manulife Investment Management.

The biggest threat coming out of the past week, he said, is that all the uncertainty about trade will scare CEOs and shoppers away from spending. That would threaten the expected ramp up in growth that economists have been expecting later this year. He expects U.S. economic growth to muddle along. It may fall as low as 1% and make things feel like a recession, he said, but a real recession remains unlikely in part because interest rates are low.

Technology stocks bore the brunt of Monday's selling, and Apple slid 5.2%. It not only depends on Chinese factories to assemble its iPhones, but China is also the only country aside from the United States that accounts for more than 10% of its sales.

Companies are in the final stretch of the latest round of quarterly earnings reports, and results haven't been as bad as initially feared, though still down from year-ago levels. Profit for companies in the S&P 500 is now expected to contract by roughly 1%. That's better than the nearly 3% drop expected earlier. More than three quarters of the S&P 500 have reported financial results.

Meat producer Tyson Foods jumped 5.1% for the biggest gain in the S&P 500 after it reported profits that were better than Wall Street expected. It was one of only 11 stocks in the S&P 500 able to eke out a gain.

Gold rose as investors sought safer ground. It added $19.00 to $1,464.60 per ounce. Silver rose 13 cents to $16.35 per ounce, and copper fell 3 cents to $2.54 per pound.

Benchmark U.S. crude fell 97 cents to settle at $54.69 a barrel. Brent crude oil, the international standard, fell $2.08 to $59.81 a barrel. Wholesale gasoline fell 6 cents to $1.72 per gallon. Heating oil declined 5 cents to $1.84 per gallon. Natural gas fell 5 cents to $2.07 per 1,000 cubic feet.

In Asia, where tensions between Seoul and Tokyo are worsening in a trade dispute entirely separate from Washington's and Beijing's, Japan's Nikkei 225 index fell 1.7%, and South Korea's Kospi lost 2.6%. The Hang Seng in Hong Kong dropped 2.9%.

In Europe, France's CAC 40 fell 2.2%, and the German DAX lost 1.8%. The FTSE 100 in London dropped 2.5%.

The dollar fell to 106.02 Japanese yen from 106.55 yen on Friday. The euro strengthened to $1.1202 from $1.1113.

4877


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## bigdog

Tomorrow is looking encouraging with start today of US and European trading (midnight today)


----------



## bigdog

Stocks closed broadly higher Tuesday as Wall Street regained its footing a day after the market had its biggest decline in a year.

The bounce pushed the Dow Jones Industrial Average more than 300 points higher and snapped a six-day losing streak for the market, though the benchmark S&P 500 recouped only a little more than a third of the losses from Monday.

China's decision to stabilize its currency put investors in a buying mood Tuesday. News that China allowed its currency to depreciate against the dollar to its lowest level in 11 years sparked Monday's steep stock market sell-off.

The move helped allay some of the market's jitters over the escalating dispute between the world's largest economies at a time when investors are anxious about falling U.S. corporate profits and a global economy that's showing signs of slowing.

The S&P 500 index rose 37.03 points, or 1.3%, to 2,881.77. The index dropped 3% on Monday, its worst loss since December.

The Dow climbed 311.78 points, or 1.2%, to 26,029.52. The Nasdaq composite gained 107.23 points, or 1.4%, to 7,833.27. The Russell 2000 index of smaller companies picked up 14.67 points, or 1%, to 1,502.09.










https://www.usnews.com/news/busines...follow-wall-street-lower-as-trade-war-worsens

*US Stocks Notch Solid Gains as China Stabilizes Currency*
Stocks closed broadly higher Tuesday as Wall Street regained its footing a day after the market had its biggest decline in a year.
By Associated Press, Wire Service Content Aug. 6, 2019, at 5:06 p.m.

By ALEX VEIGA, AP Business Writer

Stocks closed broadly higher Tuesday as Wall Street regained its footing a day after the market had its biggest decline in a year.

The bounce pushed the Dow Jones Industrial Average more than 300 points higher and snapped a six-day losing streak for the market, though the benchmark S&P 500 recouped only a little more than a third of the losses from Monday.

China's decision to stabilize its currency put investors in a buying mood Tuesday. News that China allowed its currency to depreciate against the dollar to its lowest level in 11 years sparked Monday's steep stock market sell-off.

The move helped allay some of the market's jitters over the escalating dispute between the world's largest economies at a time when investors are anxious about falling U.S. corporate profits and a global economy that's showing signs of slowing.

"We're getting a nice move here, but if you look at what the tone of the market might be for the next few days it still could be under some pressure," said Jeff Kravetz, regional investment director for U.S. Bank Wealth Management. "Right now investors are quite nervous and the reason for the nervousness is not only the trade issue, but we're also seeing weakening economic data, not only here, but overseas."

The S&P 500 index rose 37.03 points, or 1.3%, to 2,881.77. The index dropped 3% on Monday, its worst loss since December.

The Dow climbed 311.78 points, or 1.2%, to 26,029.52. The Nasdaq composite gained 107.23 points, or 1.4%, to 7,833.27. The Russell 2000 index of smaller companies picked up 14.67 points, or 1%, to 1,502.09.

Stock indexes in Europe finished sharply lower.

Investors have grown more nervous about the impact that the trade war between the U.S. and China could have on the economy and corporate profits. Those concerns have grown as the conflict heated from a simmer to a boil last week, even as both sides resumed negotiations.

But China's decision to allow its currency to stabilize Tuesday suggests Beijing might hold off from aggressively allowing the yuan to weaken as a way to respond to U.S. tariffs on Chinese goods.

That offered some hope that the sides might try to keep the situation from escalating further.

"That's a big part of why markets are not down big again today," Kravetz said.

Technology stocks, which bore the brunt of Monday's sell-off, accounted for a big share of the market's gains Tuesday.

Apple and Microsoft rose 1.9%. The companies get significant revenue from China and have been highly sensitive to swings in the ongoing trade dispute.

Financial companies also helped lift the market. Wells Fargo gained 1.7% and Bank of America rose 1.2%.

Solid earnings results helped lift other sectors. Animal health company Zoetis climbed 7.6% to lead health care stocks higher.

Retailers, communications services companies and industrial stocks also notched solid gains. Foot Locker rose 3.4%, Facebook added 1.5%. Aircraft components maker TransDigm jumped 13.7% after raising its profit forecast and delivering solid quarterly earnings.

Energy stocks dropped along with the price of crude oil.

A government report suggesting a cooling U.S. job market kept bond yields in check after an early gain. The yield on the 10-year Treasury briefly rose to 1.77%, but then declined to 1.72%, down from 1.73% late Monday.

Companies are in the final stretch of the latest round of quarterly earnings reports, and results haven't been as bad as initially feared, though still down from year-ago levels. Profit for companies in the S&P 500 is now expected to contract by roughly 1%. That's better than the nearly 3% drop expected earlier. More than three quarters of the S&P 500 have reported financial results.

International Flavors & Fragrance tumbled 15.9% after the company trimmed its forecast following a disappointing earnings report.

Take-Two Interactive Software jumped 8% on a surge in sales of "Grand Theft Auto" and other popular video games. The company, which also makes the "Red Dead Redemption" games, beat Wall Street's fiscal first quarter profit forecasts and gave investors a surprisingly good sales forecast for the current quarter.

Novartis fell 2.8% after the Federal Drug Administration disclosed that it is reviewing the accuracy of data on Zolgensma, a drug for treating spinal muscular atrophy in children. Novartis is the parent company of AveXis, which makes the drug. Several other drugmakers also fell. Mallinckrodt tumbled 12%, McKesson dropped 3.9%, AmerisourceBergen slid 5.2% and Teva Pharmaceuticals slumped 9.8%.

Benchmark crude oil fell $1.06 to settle at $53.63 a barrel. Brent crude oil, the international standard, fell 87 cents to close at $58.94 a barrel. Wholesale gasoline fell 3 cents to $1.69 per gallon. Heating oil declined 2 cents to $1.82 per gallon. Natural gas rose 4 cents to $2.11 per 1,000 cubic feet.

Gold rose $7.80 to $1,472.40 per ounce, silver rose 6 cents to $16.41 per ounce and copper rose 1 cent to $2.55 per pound.

The dollar rose to 106.52 Japanese yen from 106.02 yen on Monday. The euro weakened to $1.1200 from $1.1202.


----------



## bigdog

Stocks overcame a big loss on Wall Street Wednesday, though the market's recovery left plenty of signs of worry among investors that the fallout from the trade war between the U.S. and China will spread.

A late-afternoon rally lifted most of the major stock indexes out of the red, reversing most of the early slide that briefly pulled the Dow Jones Industrial Average down more than 580 points. Technology and consumer staples stocks powered much of the gains, offsetting losses in banks, energy companies and other sectors.

Even so, the moves in the bond and commodities markets signaled that investors are nervous that the escalating trade war between the U.S. and China may derail the global economy.

The S&P 500 index eked out a gain of 2.21 points, or 0.1%, to 2,883.98. The index had been down 2% during the heaviest bout of selling.

The Dow dropped 22.45 points, or 0.1%, to 26,007.07. It had been down as much as 589 points.

The Nasdaq led the market's upward swing, climbing 29.56 points, or 0.4%, to 7,862.83. The Russell 2000 index of smaller companies lost 1.40 points, or 0.1%, to 1,500.69.










https://www.usnews.com/news/busines...-shares-mixed-after-china-stabilizes-currency

*US Stocks Erase Most of an Early Loss as Volatility Surges*
Stocks overcame a big loss on Wall Street Wednesday, though the market's recovery left plenty of signs of worry among investors that the fallout from the trade war between the U.S. and China will spread.
By Associated Press, Wire Service Content Aug. 7, 2019, at 5:15 p.m.

By ALEX VEIGA and STAN CHOE, AP Business Writers

Stocks overcame a big loss on Wall Street Wednesday, though the market's recovery left plenty of signs of worry among investors that the fallout from the trade war between the U.S. and China will spread.

A late-afternoon rally lifted most of the major stock indexes out of the red, reversing most of the early slide that briefly pulled the Dow Jones Industrial Average down more than 580 points. Technology and consumer staples stocks powered much of the gains, offsetting losses in banks, energy companies and other sectors.

Even so, the moves in the bond and commodities markets signaled that investors are nervous that the escalating trade war between the U.S. and China may derail the global economy.

Bond yields sank around the world, something that happens when investors see a weaker economy and low inflation on the way. The price of oil tanked and the price of gold shot up to its highest level in six years as traders sought safe-haven holdings.

"You did see buyers come back to the market, which is a good sign for the market in the near term," said Lindsey Bell, investment strategist with CFRA Research. "Investors need to buckle in for some volatility here in the next couple of months."

The S&P 500 index eked out a gain of 2.21 points, or 0.1%, to 2,883.98. The index had been down 2% during the heaviest bout of selling.

The Dow dropped 22.45 points, or 0.1%, to 26,007.07. It had been down as much as 589 points.

The Nasdaq led the market's upward swing, climbing 29.56 points, or 0.4%, to 7,862.83. The Russell 2000 index of smaller companies lost 1.40 points, or 0.1%, to 1,500.69.

The market has been roiled the past couple of weeks by growing anxiety as the U.S. and China clash over trade.

Last week, President Donald Trump rattled markets when he promised to impose 10% tariffs next month on all Chinese imports that haven't already been hit with tariffs of 25%. China struck back on Monday, allowing its currency, the yuan, to weaken against the U.S. dollar.

China stabilized the yuan on Tuesday and that helped lift U.S. stocks a day after they endured their worst day of the year. But the markets turned volatile again early Wednesday after central banks in New Zealand, India and Thailand cut key interest rates.

The surprise rate cuts triggered a slide in bond yields around the world as investors scrambled for safety.

The yield on the 10-year Treasury touched its lowest level in nearly three years, falling as low as 1.60% from 1.74% late Tuesday, before climbing back to 1.73%. It was above 3% in late November.

Some investors saw the big drops Wednesday morning as an opportunity to buy stocks at cheaper prices.

"I see some stocks that look great that I'm buying today," said George Young, portfolio manager at Villere & Co. "I just can't make much of a case for bonds right now."

The market's turbulent turn comes less than two weeks after the benchmark S&P 500 hit an all-time high.

While investors have been scrambling to adjust to the turns in the trade conflict, the broader U.S. economy continues to grow and add jobs. Unemployment is at the lowest level in decades and consumer confidence remains strong.

Corporate earnings, meanwhile, have been coming in better than expected.

Still, the bond market continues to flash a warning signal of recession. The gap between the yield on the three-month Treasury and the 10-year Treasury widened further.

It's a rare occurrence because investors usually demand bigger yields for tying up their money for longer periods of time, and one rule of thumb says a recession may hit about a year afterward if the gap, or spread, between those two rates persists.

A three-month Treasury was yielding 0.28 percentage points more than a 10-year Treasury as of Wednesday afternoon. It was 0.36 points earlier in the day, the widest gap since the spring of 2007, less than a year before the Great Recession.

Investors are increasingly betting that the Federal Reserve will need to cut short-term interest rates to support the economy given all trade tensions, and traders see a nearly 50% chance of three cuts or more by the end of the year. A month ago, they projected that probability at less than 9%.

U.S. stocks have been on a wild ride since Jan. 22, 2018, when Trump first imposed tariffs on solar products and washing machines to help U.S. manufacturers, but they're virtually back to where they started.

The S&P 500 closed at 2,832.97 that day and has since been down as much as 17% and up as much as 7%, with moves often driven by waxing and waning worries about the trade war. The S&P 500 ended Wednesday up 1.8% from that early 2018 starting point.

Since Trump tweeted in March 2018 that "trade wars are good, and easy to win" after raising tariffs on steel and aluminum, the S&P 500 is up 7.2%, though that gain has nearly halved in the last couple weeks as worries about the trade war have surged.

Banks sustained some of the worst losses Wednesday. Lower bond yields mean lower interest rates on mortgages and other kinds of loans, which mean lower profits for banks. JPMorgan Chase fell 2.2%.

The dimming expectations for global growth also send the price of crude oil down $2.54, or 4.7%, to settle at $51.09 a barrel. Brent crude fell $2.71 to $56.23 a barrel.

Wholesale gasoline fell 7 cents to $1.62 per gallon. Heating oil declined 7 cents to $1.75 per gallon. Natural gas fell 3 cents to $2.08 per 1,000 cubic feet.

Gold rose $34.90 to $1,507.30 per ounce, silver rose 75 cents to $17.16 per ounce and copper rose 2 cents to $2.57 per pound.

The dollar fell to 105.69 Japanese yen from 106.52 yen on Tuesday. The euro strengthened to $1.1234 from $1.1200.


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## sptrawler

From the general inference of your post's bigdog, it would appear any solving of the trade dispute between the U.S and China, will light a fire under the market.
From your post:
_The market's turbulent turn comes less than two weeks after the benchmark S&P 500 hit an all-time high.

While investors have been scrambling to adjust to the turns in the trade conflict, the broader U.S. economy continues to grow and add jobs. Unemployment is at the lowest level in decades and consumer confidence remains strong.

Corporate earnings, meanwhile, have been coming in better than expected_.

There is nothing better than a nervous herd, to cause a stampede, one way or the other. There is a lot of money to be made, if you pick the right direction.


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## bigdog

Technology companies powered stocks broadly higher on Wall Street Thursday, driving the S&P 500 to its best day in more than two months and erasing its losses for the week.

The rally, which pushed the Dow Jones Industrial Average up by more than 370 points, followed an early rise in bonds yields after a weekly government report on unemployment claims came in better than economists had expected.

Worries that the trade dispute between the U.S. and China is hurting the global economy roiled the market earlier this week, sending many investors fleeing to safer holdings, such as U.S. government bonds. That pulled bond yields sharply lower.

The S&P 500 index rose 54.11 points, or 1.9%, to 2,938.09. The index has risen for three straight days.

The Dow Jones Industrial Average climbed 371.12 points, or 1.4%, to 26,378.19. The Nasdaq composite, which is heavily weighted with technology stocks, vaulted 176.33 points, or 2.2%, to 8,039.16. It also had its best day in more than two months and was on track to end the week with a gain.










https://www.usnews.com/news/busines...stocks-rebound-after-volatile-wall-street-day

*Technology Companies Power Broad Rally for US Stocks*
Technology companies powered stocks broadly higher on Wall Street Thursday driving the S&P 500 to its best day in more than two months and erasing its losses for the week.
By Associated Press, Wire Service Content Aug. 8, 2019, at 5:03 p.m.

By ALEX VEIGA, AP Business Writer

Technology companies powered stocks broadly higher on Wall Street Thursday, driving the S&P 500 to its best day in more than two months and erasing its losses for the week.

The rally, which pushed the Dow Jones Industrial Average up by more than 370 points, followed an early rise in bonds yields after a weekly government report on unemployment claims came in better than economists had expected.

Worries that the trade dispute between the U.S. and China is hurting the global economy roiled the market earlier this week, sending many investors fleeing to safer holdings, such as U.S. government bonds. That pulled bond yields sharply lower.

The absence of new worrisome turns in the U.S.-China trade tussle may have also helped keep investors in a buying mood Thursday.

"That's what the market is attuned to right now, this confirmation of fears that things are going badly," said Willie Delwiche, investment strategist at Baird. "And if you're not getting that, then stocks can stabilize, bond yields can move up a little bit."

The S&P 500 index rose 54.11 points, or 1.9%, to 2,938.09. The index has risen for three straight days.

The Dow Jones Industrial Average climbed 371.12 points, or 1.4%, to 26,378.19. The Nasdaq composite, which is heavily weighted with technology stocks, vaulted 176.33 points, or 2.2%, to 8,039.16. It also had its best day in more than two months and was on track to end the week with a gain.

Investors also favored smaller company stocks. The Russell 2000 index picked up 31.45 points, or 2.1%, to 1,532.13.

Major indexes in Europe notched solid gains.

Bond prices fell early in the day, sending yields higher. The yield on the benchmark 10-year Treasury note went as high as 1.79% before falling back to 1.72% in late trading, little changed from late Wednesday.

President Donald Trump spooked the markets last week when he threatened to impose 10% tariffs on all Chinese imports that haven't already been hit with tariffs of 25%. China retaliated on Monday and allowed its currency, the yuan, to weaken against the U.S. dollar.

China stabilized the yuan on Tuesday and that helped lift U.S. stocks following their worst day of the year. But, central banks in New Zealand, India and Thailand cut key interest rates on Wednesday, sending U.S. stocks into an early dive before recovering at the end of the day.

The last couple of weeks feel even more topsy-turvy following the months of relative calm that investors had been enjoying. Before Monday's 3% drop for the S&P 500, they hadn't seen a loss of even half that size since mid-May.

Since this bull market began over a decade ago, the S&P 500 has had 24 days where it lost at least 3%. That averages out to one every five months or so, but they don't happen in such a regular fashion.

Instead, the market tends to shift between periods of calm and sharp bursts of volatility. In 17 of the 24 times that the S&P 500 fell 3%, it either preceded or followed another such drop within a month. So Monday's 3% fall may be the precursor to more, if history is a guide.

"The foreseeable future is going to be a lot of noise," said J.J. Kinahan, chief market strategist for TD Ameritrade.

The last time the stock market had a drop of 3% was on Dec. 4, when investors were worried that the Federal Reserve was raising interest rates too aggressively and would combine with trade concerns to create a recession. But it wasn't in isolation: It was the third such drop within the span of two months.

A more extreme example is the summer of 2011, when the S&P 500 had four drops of more than 4% in just two weeks. Worries about the European debt crisis and the first-ever downgrade of the U.S. credit rating at the time were roiling markets around the world.

That episode also showed that big up days can be interspersed between big down days. That same stretch had two days where the S&P 500 surged more than 4%.

In Thursday's market rebound, stocks took their cues from the bond market.

"What really rattled people in the first part of the week was the drop in bond yields and what we saw over the course of yesterday and continue to see today is rising bond yields," Delwiche said. "That's been enough to support stocks."

Investors snapped up technology stocks in a signal that they are more willing to take on risk after several days of fleeing to safer holdings. Microsoft rose 2.7% and Oracle gained 2.5%.

In another sign that investors were feeling more bullish, safe-play sectors like utilities and makers of consumer products lagged the market. Investors usually shun those sectors when they want to take on more risk.

Uber slumped 5% in after-hours trading after the ride-hailing service's second quarter revenue fell short of Wall Street's forecasts. Rival Lyft rose 3% a day after its quarterly results topped analysts' estimates and the company raised its revenue forecast for the year.

Kraft skidded 8.6% after the maker of Oscar Mayer, Cool Whip and other products revealed a sharp profit plunge in the first half of the year and some hefty charges.

Benchmark crude oil rose $1.45 to settle at $52.54 a barrel. Brent crude oil, the international standard, rose $1.15 to close at $57.38 a barrel. Wholesale gasoline rose 3 cents to $1.65 per gallon. Heating oil rose 2 cents to $1.78 per gallon. Natural gas rose 5 cents to $2.13 per 1,000 cubic feet.

Gold fell $9.60 to $1,497.70 per ounce, silver lost 26 cents to $16.90 per ounce and copper rose 4 cents to $2.60 per pound.

The dollar fell to 105.95 Japanese yen from 106.12 yen on Tuesday. The euro fell to $1.1185 from $1.1214.


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## bigdog

Stocks stumbled Friday as worries flared yet again that President Donald Trump's trade war with China may be worsening. It was a fitting end to a wild week where markets zoomed down, up and down again as investors recalibrated by the minute how much the tensions will hurt the global economy.

The S&P 500 dropped as much as 1.3% Friday after Trump said that it would be "fine" if a meeting on trade with China next month doesn't happen, before nearly eliminating the loss. It dropped again in the final minutes of trading and ended the day at 2,918.65, down 19.44 points, or 0.7%.

The Dow Jones Industrial Average fell 90.75, or 0.3%, to 26,287.44, and the Nasdaq lost 80.02, or 1%, to 7,959.14.










*Dow chart compared to ^AORD*






https://www.usnews.com/news/busines...res-mixed-following-broad-rally-for-us-stocks

*Stocks Fall Again on Trade-War Worries, Capping a Wild Week*
Stocks stumbled Friday as worries flared yet again that President Donald Trump's trade war with China may be worsening. It was a fitting end to a wild week.
By Associated Press, Wire Service Content Aug. 9, 2019, at 5:04 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Stocks stumbled Friday as worries flared yet again that President Donald Trump's trade war with China may be worsening. It was a fitting end to a wild week where markets zoomed down, up and down again as investors recalibrated by the minute how much the tensions will hurt the global economy.

The S&P 500 dropped as much as 1.3% Friday after Trump said that it would be "fine" if a meeting on trade with China next month doesn't happen, before nearly eliminating the loss. It dropped again in the final minutes of trading and ended the day at 2,918.65, down 19.44 points, or 0.7%.

The Dow Jones Industrial Average fell 90.75, or 0.3%, to 26,287.44, and the Nasdaq lost 80.02, or 1%, to 7,959.14.

To anyone not paying attention, the numbers could paint the last week as a ho-hum one for markets: The S&P 500 was down just 0.5%. But that stretch included the worst plunge of the year for the S&P 500, as well as its best day in months.

Through the week, investors' mood pinballed from fear that China was raising the stakes in the trade war by weakening its currency to relief that the yuan's drop wasn't more sharp and back to concern that the U.S. and China may not even meet next month to talk about their problems. All of that was follow-up to Trump's threat last week to impose more tariffs on Chinese goods.

Underscoring the uncertainty, investors said they had no good explanations for some of the sharp swings that stocks had over the last week. While nowhere near as bad as it got during the Great Recession, investors' fear about the uncertain path forward for corporate profits and the global economy sent gold prices jumping and bond yields tumbling.

"We don't really see an end to the uncertainty any time soon," said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute. Beyond the U.S.-China trade war, he also pointed to the upcoming U.S. elections, the pending British exit from the European Union and a completely separate trade war between South Korea and Japan, among other things.

"Unfortunately, it's tough to tell whether we're at peak uncertainty, but the level of uncertainty is high. What's remarkable is how close the markets still are to their all-time highs despite all the uncertainty."

The S&P 500 is only 2.1% below its record, which was set at the end of July. It's also up 9% since Trump said in March 2018 that "trade wars are good, and easy to win."

The economy is still growing, and the unemployment rate remains near its lowest level in half a century. The fear is that all the uncertainty that has caused stock prices to swing sharply could also make businesses and shoppers more cautious. If they pull back on their spending, it could lead to weaker profits for companies, which could cause businesses to cut back on hiring, which could do real damage to the economy.

Such fear has been most pronounced in the bond market, where yields have tumbled as investors scrambled for protection. When bond prices rise, their yields fall, and the yield on the 10-year Treasury sat at 1.73% Friday, down from 1.85% a week ago. It rose from 1.71% late Thursday and had been below 1.60% in the middle of the week.

"The bond market has been pricing that in way earlier and to a much greater degree than the stock market has," Tom Martin, senior portfolio manager with Globalt Investments, said of the trade-war threat.

Other areas of the world are facing even weaker economic growth, and the British government reported that its economy shrank in the second quarter for the first time since 2012.

The FTSE 100 in London slipped 0.4%, while Germany's DAX lost 1.3% and the CAC 40 in France dropped 1.1%. In Asia, the Hang Seng in Hong Kong fell 0.7%, Japan's Nikkei 225 rose 0.4% and South Korea's Kospi gained 0.4%.

In the commodities markets, benchmark U.S. crude jumped $1.96 to settle at $54.50 a barrel. It had dropped as low as $50.52 earlier in the week amid worries that a weaker global economy would dent demand for energy. Brent crude, the international standard, rose $1.15 to $58.53 per barrel.

Gold edged down by $1.10 to $1,496.60 per ounce. It was a relatively quiet day following a roaring week, where gold hit its highest price in more than six years as investors scrambled for safety.

Silver was unchanged at $16.90 per ounce, and copper fell 2 cents to $2.58 per pound. Wholesale gasoline rose 2 cents to $1.67 per gallon. Heating oil climbed 3 cents to $1.81 per gallon. Natural gas fell 1 cent to $2.12 per 1,000 cubic feet.

The dollar slipped to 105.57 Japanese yen from 105.95 yen late Thursday. The euro strengthened to $1.1207 from $1.1185, and the British pound fell to $1.2056 from $1.2133.

5077


----------



## bigdog

Stocks fell sharply on Wall Street Monday, knocking nearly 400 points off the Dow Jones Industrial Average.

The benchmark S&P 500 had its worst day in a week as the sell-off put the market deeper into the red for August. The selling was widespread, with technology companies and banks accounting for a big share of the decline.

Investors sought safety in U.S. government bonds, sending their yields tumbling. The price for gold, another traditional safe-haven asset, closed higher.

The latest wave of anxious selling left the S&P 500 index down 35.56 points, or 1.2%, at 2,883.09. The Dow fell 389.73 points, or 1.5%, to 25,897.71. The average was briefly down 462 points.

The Nasdaq composite dropped 95.73, or 1.2%, to 7,863.41. The Russell 2000 index of smaller company stocks lost 18.58 points, or 1.2%, to 1,494.46.

Singapore was closed for holiday










https://www.usnews.com/news/busines...asian-stocks-rise-as-trade-war-worries-worsen

*Dow Slumps Nearly 400 Points as Trade War Anxiety Lingers*
Stocks fell sharply on Wall Street Monday, knocking nearly 400 points off the Dow Jones Industrial Average.
By Associated Press, Wire Service Content Aug. 12, 2019, at 5:47 p.m.

By ALEX VEIGA, AP Business Writer

Stocks fell sharply on Wall Street Monday, knocking nearly 400 points off the Dow Jones Industrial Average.

The benchmark S&P 500 had its worst day in a week as the sell-off put the market deeper into the red for August. The selling was widespread, with technology companies and banks accounting for a big share of the decline.

Investors sought safety in U.S. government bonds, sending their yields tumbling. The price for gold, another traditional safe-haven asset, closed higher.

The costly trade war between the U.S. and China has rattled markets this month. An escalation in tensions between the world's largest economies has stoked worries that the long-running trade conflict will undercut an already slowing global economy.

"Trade and the concern that as this escalates it continues to wear on confidence to a point that this actually causes a recession, that's what people are wrestling with," said Ben Phillips, chief investment officer at EventShares.

The latest wave of anxious selling left the S&P 500 index down 35.56 points, or 1.2%, at 2,883.09. The Dow fell 389.73 points, or 1.5%, to 25,897.71. The average was briefly down 462 points.

The Nasdaq composite dropped 95.73, or 1.2%, to 7,863.41. The Russell 2000 index of smaller company stocks lost 18.58 points, or 1.2%, to 1,494.46.

The major indexes are down more than 3% for August. Even after this month's stumble, they are up solidly this year, led by the Nasdaq with a gain of 18.5%. The S&P 500 is up 15%, though it's down 4.7% from its all-time high set at the end of July.

Anxiety and fear over the U.S.-China trade war continues to hover over the market and has taken stocks on a wild ride in August.

The S&P 500 index zoomed up and down last week, ending with its second straight weekly loss. The wild swings follow President Donald Trump's threat to impose more tariffs on Chinese goods, followed by China's move to allow its currency to weaken.

Trump has promised 10% tariffs on some $300 billion in Chinese imports that haven't already been hit with tariffs of 25%. The new tariff would go into effect Sept. 1 and more directly affect U.S. consumers.

Last week, Trump said he'd be "fine" if the U.S. and China don't go ahead with a meeting next month, dampening investors' hopes for a path to resolving the economically damaging trade war.

The longer the trade conflict drags on, the more it has the potential to threaten the weakening global economy by discouraging trade and causing businesses to pull capital spending plans on hold. The International Monetary Fund expects world trade to slow in 2019 for a second straight year.

"We're hearing from management teams that there's just caution on investing, especially globally," Phillips said. "Multinationals are being very cautious. ... Their view is if the rest of the world slows down, the U.S. won't be insulated from that."

Traders continued to shift money into bonds Monday, sending bond prices sharply higher. That pulled down the yield on the 10-year Treasury to 1.64% from 1.73% late Friday, a big move. The yield is used as a benchmark for interest rates on mortgages and other consumer loans.

The drop in bond yields weighed on financial sector stocks. Bank of America fell 2.4% and Citigroup gave up 2.7%. Credit card issuer Synchrony Financial slid 3.9% and Capital One Financial dropped 2.3%.

Technology, health care and consumer discretionary sector stocks accounted for much of the market's decline. Symantec dropped 5.7%, Nektar Therapeutics slumped 11.2% and Tractor Supply fell 4.7%.

Real estate and utilities stocks posted the smallest declines. Traders usually seek the shelter of utilities and bonds when they want a more secure place to put their money because of concerns over economic growth.

Sysco rose 3.1% after the food distributor beat Wall Street's fiscal fourth quarter profit forecasts. The company's revenue edged higher on growth from its U.S. operations.

Shares in Viacom and CBS fell amid published reports suggesting the entertainment companies are close to a merger deal. Viacom slid 4.9% and CBS lost 1.8%.

Major stock markets outside the U.S. were mixed Monday, with indexes in Europe closed broadly lower while those in Asia ended broadly higher.

Hong Kong's Hang Seng lagged and shed 0.4% as that city continues to deal with increased tensions from pro-democracy protests. The Hong Kong airport shut down on Monday when thousands of demonstrators occupied its main terminal.

Stocks in Argentina plummeted and the Argentinian peso fell sharply following a primary victory for a populist ticket in the nation's presidential elections. The nation is in a deep economic crisis and the potential for a drastic change in leadership is rattling investors there.

Matías Carugati, chief economist for Management & Fit, said the victory of the populist Alberto Fernández team would put "sustained" pressure on the exchange rate and stocks due to the prospect that the nation could shift course to a more state-interventionist course for the economy.

Investors are facing a relatively slow week as far as economic reports and corporate earnings. The Labor Department will release its consumer price index for July on Tuesday and Commerce Department will release last month's retail sales results on Thursday.

Macy's reports quarterly results on Wednesday and Walmart will report results on Thursday. They are among the last major companies to report their earnings for the latest quarter.

Energy futures were mixed. Benchmark crude oil rose 43 cents to settle at $54.93 a barrel. Brent crude oil, the international standard, added 4 cents to close at $58.57 a barrel.

Wholesale gasoline was unchanged at $1.67 per gallon. Heating oil was also unchanged at $1.81 per gallon. Natural gas fell 1 cent to $2.12 per 1,000 cubic feet.

Gold rose $8.70 to $1,505.30 per ounce, silver rose 14 cents to $17.04 per ounce and copper was unchanged at $2.58 per pound.

The dollar fell to 105.27 Japanese yen from 105.57 yen on Friday. The euro strengthened to $1.1219 from $1.1207.


----------



## bigdog

And back up goes the stock market.

Investors flipped back into buying mode Tuesday after the U.S. said it would hold off on tariffs of Chinese imports of mobile phones, toys and several other items typically on holiday shopping lists. China also said the two sides held discussions on trade overnight and would talk again the next two weeks.

The latest turn in the U.S.-China trade war helped the market make up much of the losses from the previous two days, snapping a two day losing streak for the S&P 500.

The benchmark index rose 43.23 points, or 1.5%, to 2,926.32. It had been up as much as 2.1%. The Dow Jones Industrial Average gained 372.20 points, or 1.4%, to 26,279.91. The average briefly climbed 519 points.

The Nasdaq composite jumped 152.95 points, or 1.9%, to 8,016.36. The Russell 2000 index of smaller company stocks rose 16.30 points, or 1.1%, to 1,510.58. Oil and copper prices surged.










https://www.usnews.com/news/busines...follow-wall-street-lower-on-trade-war-jitters

*Stocks Rebound on US Plan to Delay Some China Tariffs*
Stocks notched solid gains Tuesday after the U.S. said it would hold off on tariffs of Chinese imports of mobile phones, toys and several other items typically on holiday shopping lists.
By Associated Press, Wire Service Content Aug. 13, 2019, at 4:49 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

And back up goes the stock market.

Investors flipped back into buying mode Tuesday after the U.S. said it would hold off on tariffs of Chinese imports of mobile phones, toys and several other items typically on holiday shopping lists. China also said the two sides held discussions on trade overnight and would talk again the next two weeks.

The latest turn in the U.S.-China trade war helped the market make up much of the losses from the previous two days, snapping a two day losing streak for the S&P 500.

The benchmark index rose 43.23 points, or 1.5%, to 2,926.32. It had been up as much as 2.1%. The Dow Jones Industrial Average gained 372.20 points, or 1.4%, to 26,279.91. The average briefly climbed 519 points.

The Nasdaq composite jumped 152.95 points, or 1.9%, to 8,016.36. The Russell 2000 index of smaller company stocks rose 16.30 points, or 1.1%, to 1,510.58. Oil and copper prices surged.

"Maybe today is a little bit too exaggerated because it was a little glimmer of hope about tariffs," said Karyn Cavanaugh, senior markets strategist at Voya Investment Management. "However, the drama with China and trade is not over."

The markets have been in the spin cycle since President Donald Trump announced on Aug. 1 that he would impose 10% tariffs on about $300 billion in Chinese imports, which would be on top of 25% tariffs already in place on $250 billion of imports. The threat dashed hopes that a resolution may come soon in the trade war between the world's two largest economies, and investors have grown increasingly concerned that it may drag on through the U.S. elections in 2020.

On Tuesday, The Office of the U.S. Trade Representative said it would delay the tariffs on some products, including popular consumer goods, until Dec. 15. A few other products were removed altogether, including certain types of fish and baby seats.

Technology sector stocks, which have been among the biggest losers during heavy selling days this month, led the broad market rebound Tuesday. Health care companies, retailers and banks also notched solid gains. Real estate and utilities lagged the broader market as investors regained their appetite for riskier assets.

While stocks rallied Tuesday, there are still signs of investor caution. Treasury yields have sunk, and gold prices have jumped as investors searched for safety on worries the trade war could knock the U.S. economy back into recession for the first time in a decade. The yield on the 10-year Treasury rose Tuesday, but it remains below its level when Trump's 2016 election invigorated markets. Gold fell just 0.2% and remains near a six-year high.

Retailers were some of Tuesday's best performers because the delay in tariffs means they won't have to raise prices on toys, clothing and other items during the holiday shopping season, the most important months of the year for the industry. Best Buy jumped 6.5%, one of the biggest gains in the S&P 500, and Dollar Tree rose 4% for its best day since March.

"This is a huge relief for retailers for the holiday 2019 season, but the larger issue isn't over," said Ken Perkins, president of RetailMetrics, a retail research firm. "Retailers better be planning to diversify their sourcing even though they're getting some short-term relief."

Other companies that have a lot riding on strong holiday sales, as well as a dependence on China for producing their goods, were also among the market's leaders. Apple climbed 4.2%, Micron Technology added 4.8% and Hasbro gained 2.7%.

CBS and Viacom rose after the companies announced they have reached a deal to combine into a company named ViacomCBS. The long-anticipated combination brings together the television networks and the Paramount movie studio as traditional media giants bulk up to challenge streaming companies like Netflix. CBS gained 1.4% and Viacom rose 2.4%.

Bonds fell and the yield on the two-year Treasury jumped, partially due to the trade-war developments and partially because inflation was higher than economists expected last month. The inflation report may give the Federal Reserve less leeway to cut interest rates to help the economy.

The 10-year Treasury yield, meanwhile, rose by a smaller margin, to 1.69% from 1.64% late Monday. That leaves the 10-year Treasury yielding just 0.02 percentage points more than a two-year Treasury. When that difference goes negative, investors see it as a warning signal that a recession may be coming. And the gap is now close to its lowest level since the summer of 2007, about six months before the Great Recession struck.

"What it's telling us is global growth is meager," Cavanaugh said.

Stock markets overseas turned higher following the U.S. and Chinese announcements on trade. The French CAC 40 jumped 1% after being down for most of the day. The German DAX rose 0.6%, and the FTSE 100 in London added 0.3%.

Asian markets had already closed before the announcements, and Japan's Nikkei 225 index dropped 1.1%. The Hang Seng lost 2.1% in Hong Kong, where pro-democracy protests crippled Hong Kong's airport for a second day. The Chinese government cast an ominous shadow over the growing protests by calling them "sprouts of terrorism" and raised concerns over how it may respond.

Commodities prices also surged on expectations that easing U.S.-China trade tensions could lead to healthier demand. Benchmark U.S. crude rose $2.17, or 4%, to $57.10 per barrel. Brent crude, the international standard, gained $2.73 to $61.30.

Wholesale gasoline rose 7 cents to $1.74 per gallon. Heating oil climbed 7 cents to $1.88 per gallon. Natural gas rose 3 cents to $2.15 per 1,000 cubic feet.

Copper rose 4 cents, or 2%, to $2.62 a pound.

Gold dipped $3.10 to $1,502.20 per ounce and silver fell 8 cents to $16.96 per ounce.

The dollar rose to 106.68 Japanese yen from 105.27 yen on Monday. The euro weakened to $1.1174 from $1.1219.

184


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## bigdog

According to the latest SPI futures, the ASX 200 index is expected to open the day 135 points or 2.1% lower this morning.

The threat of a recession doesn't seem so remote anymore for investors in financial markets.

The yield on the closely watched 10-year Treasury fell so low Wednesday that, for the first time since 2007, it briefly crossed a threshold that has correctly predicted many past recessions. Weak economic data from Germany and China also fanned fears of a global slowdown.

That spooked investors, who responded by dumping stocks, sending the Dow Jones Industrial Average into an 800-point skid, its biggest drop of the year. The S&P 500 index dropped nearly 3% as the market erased all of its gains from a rally the day before. Tech stocks and banks led the broad sell-off. Retailers came under especially heavy selling pressure after Macy's issued a dismal earnings report and cut its full-year forecast.

Investors have been plowing money into the safety of U.S. government bonds for months amid growing anxiety that weakness in the global economy could sap growth in the U.S. Uncertainty about the outcome of the U.S. trade war with China has spurred a return of volatility to the stock market in August — the Dow has dropped more than 5% and the S&P 500 is down more than 4%.

The S&P 500 fell 85.72 points, or 2.9%, to 2,840.60. The Dow sank 800.49 points, or 3%, to 25,479.42. The Nasdaq composite lost 242.42 points, or 3%, to 7,773.94. The Russell 2000 index of smaller company stocks slid 43.05 points, or 2.8%, to 1,467.52.

The losses come a day after stocks rallied when the Trump administration delayed tariffs on about $160 billion in Chinese goods that were set to take effect on Sept. 1.











https://www.usnews.com/news/busines...s-rise-on-us-plan-to-delay-some-china-tariffs

*Dow Slumps 800 Points After Bonds Flash Recession Warning*
The threat of a recession doesn't seem so remote anymore.
By Associated Press, Wire Service Content Aug. 14, 2019, at 5:21 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

The threat of a recession doesn't seem so remote anymore for investors in financial markets.

The yield on the closely watched 10-year Treasury fell so low Wednesday that, for the first time since 2007, it briefly crossed a threshold that has correctly predicted many past recessions. Weak economic data from Germany and China also fanned fears of a global slowdown.

That spooked investors, who responded by dumping stocks, sending the Dow Jones Industrial Average into an 800-point skid, its biggest drop of the year. The S&P 500 index dropped nearly 3% as the market erased all of its gains from a rally the day before. Tech stocks and banks led the broad sell-off. Retailers came under especially heavy selling pressure after Macy's issued a dismal earnings report and cut its full-year forecast.

Investors have been plowing money into the safety of U.S. government bonds for months amid growing anxiety that weakness in the global economy could sap growth in the U.S. Uncertainty about the outcome of the U.S. trade war with China has spurred a return of volatility to the stock market in August — the Dow has dropped more than 5% and the S&P 500 is down more than 4%.

Economic data from two of the world's biggest economies added to investors' fears Wednesday. European markets fell after Germany's economy contracted 0.1% in the spring due to the global trade war and troubles in the auto industry. In China, the world's second-largest economy, growth in factory output, retail spending and investment weakened in July.

"The bad news for global economies is stacking up much faster than most economists thought, so trying to keep up is exhausting," Kevin Giddis, head of fixed income capital markets at Raymond James, wrote in a report.

The S&P 500 fell 85.72 points, or 2.9%, to 2,840.60. The Dow sank 800.49 points, or 3%, to 25,479.42. The Nasdaq composite lost 242.42 points, or 3%, to 7,773.94. The Russell 2000 index of smaller company stocks slid 43.05 points, or 2.8%, to 1,467.52.

The losses come a day after stocks rallied when the Trump administration delayed tariffs on about $160 billion in Chinese goods that were set to take effect on Sept. 1.

While the market was falling Wednesday, President Donald Trump took to Twitter to again criticize the Federal Reserve for hampering the U.S. economy by raising rates "far too quickly" last year and not reversing its policy aggressively enough — the Fed cut its key rate by a quarter point last month. He also defended his trade policy, even though investors remain worried that the trade war between the world's two largest economies may drag on through the 2020 U.S. election and cause more economic damage.

"We still see a substantial risk that the trade dispute will escalate further," said Mark Haefele, global chief investment officer at UBS in a note to clients.

Traders tend to plow money into ultra-safe U.S. government bonds when they're fearful of an economic slowdown, and that sends yields lower. The yield on the 10-year Treasury has dropped from 2.02% on July 31 to below 1.60%.

On Wednesday, it briefly fell below the two-year Treasury's yield for the first time since 2007. Each of the last five times the two-year and 10-year Treasury yields have inverted, a recession has followed. The average amount of time is around 22 months, according to Raymond James' Giddis. The indicator isn't perfect, though, and has given false signals in the past.

After its early dip, the yield on the 10-year Treasury stood at 1.58%, even with the yield on the two-year. Meanwhile, the 30-year Treasury yield also hit a record low Wednesday.

Other parts of the yield curve have already inverted, beginning late last year. But each time, some market watchers cautioned not to make too much of it. Some say the yield curve may be a less reliable indicator this time because technical factors may be distorting longer-term yields, such as negative bond yields abroad and the Federal Reserve's holdings of $3.8 trillion in Treasurys and other investments on its balance sheet.

With bond yields falling, banks took heavy losses Wednesday. Lower bond yields are bad for banks because they force interest rates on mortgages and other loans lower, which results in lower profits for banks. Citigroup sank 5.3% and Bank of America gave up 4.7%.

Macy's plunged 13.2%, the sharpest loss in the S&P 500, after it slashed its profit forecast for the year. The retailer's profit for the latest quarter fell far short of analysts' forecasts as it was forced to slash prices on unsold merchandise. The grim results from Macy's sent other retailers sharply lower, too. Nordstrom sank 10.6% and Kohl's dropped 11%.

Energy stocks also sank sharply, hurt by another drop in the price of crude oil on worries that a weakening global economy will drag down demand. National Oilwell Varco slumped 8% and Schlumberger skidded 6.6%.

The price of benchmark U.S. crude slid $1.87, or 3.3%, to settle at $55.23 per barrel. Brent crude, the international standard, dropped $1.82 to close at $59.48.

Wholesale gasoline fell 6 cents to $1.68 per gallon. Heating oil declined 4 cents to $1.84 per gallon. Natural gas fell 1 cent to $2.14 per 1,000 cubic feet.

Gold gained $13.70 to $1,515.90 per ounce, close to a six-year high. Investors also bid up shares in mining company Newmont Goldcorp 0.8%.

Silver rose 29 cents to $17.25 per ounce and copper fell 3 cents to $2.59 per pound.

The dollar fell to 105.88 Japanese yen from 106.68 yen on Tuesday. The euro weakened to $1.1137 from $1.1174.

Overseas, Germany's DAX dropped 2.3% following the weak German economic data. France's CAC 40 fell 2.2%, and the FTSE 100 in London lost 1.7%.

In Asia, Japan's Nikkei 225 rose 1%, the Kospi in South Korea gained 0.7% and the Hang Seng in Hong Kong added 0.1%.


----------



## bigdog

Investors rode out another turbulent day on Wall Street Thursday that kept stock indexes flipping between gains and losses until a late-day bounce gave the market a modest gain.

Worries about a possible recession collided with hopes that the strongest part of the U.S. economy — shoppers spending at stores and online — can keep going.

The major U.S. stock indexes spent much of the day reacting to big moves in U.S. government bond yields, which fell sharply in the early going, fluctuated for much of the day, and then recovered some of their decline by mid-afternoon.

U.S. government bonds have been among the loudest and earliest to cry out warnings about the economy. Stocks fell sharply on Wednesday after a fairly reliable warning signal of recession emerged from the bond market. Even after the slide in yields eased Thursday, the U.S. bond market continued to show concern as yields ended broadly lower.

The S&P 500 rose 7 points, or 0.2%, to 2,847.60. The benchmark index swung between a 0.6% gain and 0.5% loss. A day earlier, it plunged 2.9%.

The Dow Jones Industrial Average, coming off its worst day of the year, gained 99.97 points, or 0.4%, to 25,579.39.

Other indexes didn't catch the bounce. The Nasdaq composite dropped 7.32 points, or 0.1%, to 7,766.62, while the Russell 2000 index of smaller companies lost 5.87 points, or 0.4%, to 1,461.65.











https://www.usnews.com/news/busines...wer-after-us-indexes-tumble-on-recession-fear

*US Stock Indexes End Mostly Higher After Volatile Day*
Investors rode out another turbulent day on Wall Street Thursday that kept stock indexes flipping between gains and losses until a final late-day bounce gave the market a modest gain.
By Associated Press, Wire Service Content Aug. 15, 2019, at 5:01 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

Investors rode out another turbulent day on Wall Street Thursday that kept stock indexes flipping between gains and losses until a late-day bounce gave the market a modest gain.

Worries about a possible recession collided with hopes that the strongest part of the U.S. economy — shoppers spending at stores and online — can keep going.

The major U.S. stock indexes spent much of the day reacting to big moves in U.S. government bond yields, which fell sharply in the early going, fluctuated for much of the day, and then recovered some of their decline by mid-afternoon.

U.S. government bonds have been among the loudest and earliest to cry out warnings about the economy. Stocks fell sharply on Wednesday after a fairly reliable warning signal of recession emerged from the bond market. Even after the slide in yields eased Thursday, the U.S. bond market continued to show concern as yields ended broadly lower.

Stocks in Asia and Europe paved the way for the volatile day on Wall Street early Thursday after China said it would take "necessary countermeasures" if President Donald Trump follows through on a threat to impose tariffs on more than $100 billion of Chinese goods on Sept. 1.

"What you're seeing really is what's been driving the market the last couple of weeks: Trade tensions as well as yield curve stress," said Lindsey Bell, investment strategist at CFRA.

The S&P 500 rose 7 points, or 0.2%, to 2,847.60. The benchmark index swung between a 0.6% gain and 0.5% loss. A day earlier, it plunged 2.9%.

The Dow Jones Industrial Average, coming off its worst day of the year, gained 99.97 points, or 0.4%, to 25,579.39.

Other indexes didn't catch the bounce. The Nasdaq composite dropped 7.32 points, or 0.1%, to 7,766.62, while the Russell 2000 index of smaller companies lost 5.87 points, or 0.4%, to 1,461.65.

Markets around the world have jerked up and down for weeks. Prices for everything from stocks to gold to oil have been heaving as investors flail from one moment of uncertainty around Trump's trade war to another around what central banks will do with interest rates.

In the U.S., Walmart climbed 6.1%, helping to steady the market after it said it made a bigger profit in the last three months than Wall Street expected, thanks in part to strong online sales of groceries. A separate government report also showed that retail sales across the country last month rose more than economists expected.

Consumer spending makes up the bulk of the U.S. economy, and shoppers have been carrying the economy recently amid worries that businesses will pull back on their spending due to all the uncertainty created by the trade war. Other economies are slowing as the trade war is doing damage to manufacturers around the world.

Those concerns helped pull the yield on the 10-year Treasury down as low as 1.48% Thursday from 1.58% late Wednesday, another big move.

The yield rose as high as 1.54% by late afternoon, which appeared to put some investors in a buying mood. That yield has been steadily dropping since late last year, when it was above 3%. In late trading Thursday the 10-year yield stood at 1.52%.

The 10-year yield has sunk so much that it dropped below the yield of the two-year Treasury Wednesday, a rare occurrence and one that has historically suggested a recession may be a year or two away.

The 30-year Treasury yield fell to 1.93% from 2.02% and earlier touched a record low, a sign that investors are concerned about how the economy will do in the future. It also recovered some of its decline and stood at 1.96% Thursday afternoon. When investors worry about weaker economic growth and inflation, they tend to pile into Treasurys, which pushes up their prices and in turn pushes down yields.

"The countdown to a recession has just started," said Hussein Sayed, Chief Market Strategist at FXTM.

Trump again defended his trade war Thursday and said a resolution with China has "got to be a deal, frankly, on our terms."

After being hopeful earlier this year that a trade agreement may be imminent between the world's two largest economies, investors are increasingly digging in for the tensions to drag on for years.

The trade war isn't the only worry for investors. The United Kingdom's pending exit from the European Union, political unrest in Hong Kong and a totally separate trade war between South Korea and Japan are all adding to the gloom.

The worries have pulled the S&P 500 down 4.5% so far this month, while other markets are down even more sharply. The S&P 500, though, remains within 6% of its record set late last month.

"The fact is that no one actually knows what is next for the markets," said Fiona Cincotta, senior market analyst at City Index. "However, the signs flashing from the markets are not great."

Cisco Systems plunged 8.6% for one of the sharpest losses in the S&P 500 after the technology giant gave a profit forecast that fell short of some analysts' expectations. Technology stocks in the S&P 500 accounted for a big share of the sectors that declined. Gains in shares of companies that sell consumer products tend to hold up in times of economic weakness, which helped drive the market higher.

Besides Walmart's surge, Procter & Gamble rose 1.4% and Coca-Cola gained 1.7%.

General Electric sank 11.3% on news that the industrial conglomerate is being accused of hiding its financial problems by Harry Markopolos, the prominent whistleblower known for outing Bernie Madoff.

In Europe, Germany's DAX sank 0.7%, while France's CAC 40 lost 0.3%. The FTSE 100 in London dropped 1.1%.

Japan's Nikkei 225 fell 1.2%, and the Hang Seng in Hong Kong rose 0.8%.

Commodity prices, which have been swinging sharply on worries that a weaker global economy will dent demand, were lower. Benchmark U.S. crude fell 76 cents to settle at $54.47 per barrel. Brent crude, the international standard, lost $1.25 to close at $58.23.

Wholesale gasoline fell 4 cents to $1.64 per gallon. Heating oil declined 3 cents to $1.81 per gallon. Natural gas fell 9 cents to $2.23 per 1,000 cubic feet.

Gold, which has rallied when worries about the economy have grown, added $3.70 to $1,519.60 per ounce. Silver fell 6 cents to $17.19 per ounce and copper was unchanged at $2.59 per pound.

The dollar rose to 106.11 Japanese yen from 105.88 yen on Wednesday. The euro strengthened to $1.1107 from $1.1137.

294


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## bigdog

Stocks around the world jumped Friday to cap another tumultuous week. Investors have been frantically trying to rejigger their predictions about whether President Donald Trump's trade war and slowing economies around the world will drag the United States into a recession. In the U.S., the result was a week where the Dow Jones Industrial Average had four days where it rose or fell by more than 300 points — with an 800-point drop thrown into the mix.

On Friday, the S&P 500 rose 1.4%. The Dow climbed 1.2% and the Nasdaq picked up 1.7%. But each index still finished with a third-straight weekly decline.

Stocks, bonds and other investments heaved up and down throughout the week, with worries hitting a crescendo on Wednesday when a fairly reliable warning signal of recession flipped on in the U.S. Treasury market.

Friday marked the seventh time in the last 10 days that the S&P 500 swung by at least 1%, something that hasn't happened since the end of 2018, the last time investors were getting worried about a possible recession. At that time, they were concerned about rising interest rates, along with the trade war.
















https://www.usnews.com/news/busines...xed-amid-ongoing-worries-about-us-china-trade

*US Stocks End Turbulent Week With Broad Gains*
Stocks around the world jumped Friday to cap another tumultuous week.
By Associated Press, Wire Service Content Aug. 16, 2019, at 5:23 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

You're not the only one confused about where the economy is headed. Just look at the stock market, where perplexed investors have been sending stocks on a wild ride in August.

And there could be plenty more where that came from. Two notoriously volatile months for stocks lie just ahead.

Stocks around the world jumped Friday to cap another tumultuous week. Investors have been frantically trying to rejigger their predictions about whether President Donald Trump's trade war and slowing economies around the world will drag the United States into a recession. In the U.S., the result was a week where the Dow Jones Industrial Average had four days where it rose or fell by more than 300 points — with an 800-point drop thrown into the mix.

On Friday, the S&P 500 rose 1.4%. The Dow climbed 1.2% and the Nasdaq picked up 1.7%. But each index still finished with a third-straight weekly decline.

Stocks, bonds and other investments heaved up and down throughout the week, with worries hitting a crescendo on Wednesday when a fairly reliable warning signal of recession flipped on in the U.S. Treasury market.

Friday marked the seventh time in the last 10 days that the S&P 500 swung by at least 1%, something that hasn't happened since the end of 2018, the last time investors were getting worried about a possible recession. At that time, they were concerned about rising interest rates, along with the trade war.

Don't expect the volatility to go away anytime soon, analysts say. No one knows when Trump's trade war will find a resolution, nor whether all the uncertainty it's created will push enough businesses and shoppers to hold off on spending and cause a recession. Some investors are digging in for trade tensions to last through the 2020 election.

"We're also heading into a tough season for the market," said Emily Roland, co-chief investment strategist at John Hancock Investment Management. "September and October tend to be the most volatile of the year for markets. We've been talking to investors for that reason to look for areas to prune risk within a portfolio."

The S&P 500 has lost an average of 1.1% in September over the last 20 years, making it the worst-performing month of the year. October's track record is better, but it includes the worst monthly performance in that stretch, a nearly 17% drop in 2008.

But Roland and other professional investors also caution that this kind of turmoil is actually normal for the market, when looking at it from a very long-term point of view. The U.S. stock market historically has had such bursts of tightly packed volatile days, interspersed between longer periods of calm. Since early 2009, whenever the S&P 500 has had a drop of 3% in a day, it either preceded or followed another such drop within a month 70% of the time.

"What's been abnormal is the super-low volatility" that investors have been enjoying for much of this bull market, which began in 2009, said Brian Yacktman, portfolio manager of the YCG Enhanced fund.

He sees the volatility as an opportunity to buy stocks at cheaper prices, and he's recently been partial to bank stocks, which have been hammered on worries that lower interest rates will hurt their profits.

"When you have volatility like this, you're actually buying the market on sale," said Rob Scheinerman, CEO of AIG Retirement Services. "That's a great thing."

Technology companies and banks did the most to drive Friday's broad rally as investors regained some appetite for riskier holdings. Utilities, which have been one of the safer havens for investors this month, lagged the market.

The S&P 500 rose 41.08 points, or 1.4%, to 2,888.68. The Dow, which had an 800-point drop earlier in the week, added 306.62 points, or 1.2%, to 25,886.01. The Nasdaq climbed 129.38 points, or 1.7%, to 7,895.99.

Investors favored smaller company stocks, which pushed up the Russell 2000. The index rose 31.99 points, or 2.2%, to 1,493.64.

Even with the latest bout of turbulent trading, the S&P 500 is still having a good year. The broad market index is up 15.2% for 2019. Similarly, the Nasdaq is still up 19% for the year.

Long-term bond yields also climbed Friday. The yield on 10-year Treasury rose to 1.56% from 1.52% late Thursday.

The bounce for yields followed a weeklong slide that included a sharp drop on Wednesday that rang yet another alarm bell for the economy. The 10-year Treasury yield dropped below the yield on the two-year Treasury, a rare occurrence and one that has historically suggested a recession may be a year or two away.

Investors are hoping that the Federal Reserve will continue to cut interest rates in order to shore up economic growth. The central bank lowered interest rates by a quarter-point at its last meeting. It was the first time it lowered rates in a decade.

Benchmark crude oil rose 40 cents to settle at $54.87 a barrel. Brent crude oil, the international standard, rose 41 cents to close at $58.64 a barrel. Wholesale gasoline rose 2 cents to $1.66 per gallon. Heating oil was unchanged at $1.81 per gallon. Natural gas fell 3 cents to $2.20 per 1,000 cubic feet.

Gold fell $7.10 to $1,512.50 per ounce, silver fell 9 cents to $17.10 per ounce and copper was unchanged at $2.59 per pound.

The dollar rose to 106.29 Japanese yen from 106.11 yen on Thursday. The euro weakened to $1.1093 from $1.1107.

5357


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## bigdog

*ALL STOCK INDEXES GREEN!*

Technology companies powered a rally on Wall Street Monday that gave the market its third straight gain.

The surge in tech stocks followed a decision by the U.S. to give Chinese telecom giant Huawei another 90 days to buy equipment from American suppliers. Chipmakers including Qualcomm, Intel and Micron, all rose.

The decision to give Huawei more time to buy goods from U.S. companies appeared to put investors eager for any signs of progress in the trade war between the U.S. and China in a buying mood.

The buying went well beyond technology, with communication services stocks, health care companies and retailers notching solid gains. Financial stocks also rose as bond prices headed lower, sending yields higher. Energy stocks climbed following a 2.4% increase in U.S. crude oil prices.

The S&P 500 climbed 34.97 points, or 1.2%, to 2,923.65. The Dow Jones Industrial Average rose 249.78 points, or 1%, to 26,135.79. The index briefly gained 336 points.

The Nasdaq, which is heavily weighted with technology stocks, rose 106.82 points, or 1.3%, to 8,002.81.











https://www.usnews.com/news/busines...s-rise-as-investors-watch-trade-war-economies

*Technology Companies Drive a Broad Rally on Wall Street*
Technology companies powered a broad rally on Wall Street Monday that gave the market its third straight gain.
By Associated Press, Wire Service Content Aug. 19, 2019, at 5:09 p.m.

By ALEX VEIGA, AP Business Writer

Technology companies powered a rally on Wall Street Monday that gave the market its third straight gain.

The surge in tech stocks followed a decision by the U.S. to give Chinese telecom giant Huawei another 90 days to buy equipment from American suppliers. Chipmakers including Qualcomm, Intel and Micron, all rose.

The decision to give Huawei more time to buy goods from U.S. companies appeared to put investors eager for any signs of progress in the trade war between the U.S. and China in a buying mood.

The buying went well beyond technology, with communication services stocks, health care companies and retailers notching solid gains. Financial stocks also rose as bond prices headed lower, sending yields higher. Energy stocks climbed following a 2.4% increase in U.S. crude oil prices.

"Today is an up day because we have some better news on China," said Kate Warne, chief investment strategist at Edward Jones. "There's likely to be many of these 1% higher, 1% lower days, as investors search for a longer-term direction. And that's what we don't have yet."

The S&P 500 climbed 34.97 points, or 1.2%, to 2,923.65. The Dow Jones Industrial Average rose 249.78 points, or 1%, to 26,135.79. The index briefly gained 336 points.

The Nasdaq, which is heavily weighted with technology stocks, rose 106.82 points, or 1.3%, to 8,002.81.

Smaller company stocks also had a good day. The Russell 2000 index gained 15.21 points, or 1%, to 1,508.85.

Major stock indexes in Europe also finished solidly higher.

Despite their recent gains, U.S. stock indexes are on track to finish the month with losses. The market has been highly volatile all month as investors try to parse conflicting signals on the U.S. economy and determine whether a recession is on the horizon. A key concern is that the escalating and costly trade conflict between the world's two biggest economies will hamper growth around the globe.

Last week, many stock indexes around the world struck their lowest levels this year, before a late rally suggested some calm was returning to the markets in what is a traditionally low-volume time of the year. Analysts say the concerns that drove last week's sell-off could resurface at any time.

"Investors just need to be prepared for a lot swings up and down as markets move," Warne said.

The market's moves on Monday suggested investors' anxiety took a back seat to optimism over the U.S.'s decision on Huawei, at least for a day.

This could be seen in the bond market, where yields rose. That's a reversal from much of August, when yields mostly fell as investors sought out the safety of government bonds as the U.S.-China conflict escalated. On Monday, the yield on the 10-year Treasury note climbed to 1.61% from 1.54% late Friday.

The rise in bond yields helped drive financial stocks higher. Wells Fargo added 1.9% and Citigroup rose 1.3%.

Investors are weighing how much of an impact the trade conflict between Washington and Beijing will have on global economies, some of which are already showing signs of slowing.

Earlier this month, Trump announced plans to extend tariffs across virtually all Chinese imports, many of them consumer products that were exempt from early rounds of tariffs. The tariffs have been delayed, but ultimately will raise costs for U.S. companies bringing goods in from China.

Huawei has become part of the trade war, with the White House showing a willingness to use sanctions against the company as a bargaining chip. The U.S. government blacklisted Huawei in May, deeming it a national security risk, meaning U.S. firms aren't allowed to sell the company technology without government approval.

Investors greeted the Trump administration's decision to extend a limited reprieve on U.S. sales to Huawei as a positive sign. Nvidia jumped 7%, Qualcomm added 2.2%, Micron Technology gained 3.4% and Intel picked up 1.6%.

Apple rose 1.9% on news that CEO Tim Cook met with President Trump over the weekend and discussed how U.S. tariffs on goods imported from China are making it tougher for the iPhone maker to compete with rival Samsung.

Apple has manufacturing facilities in China, while Samsung builds its products mainly in South Korea. "I thought he made a very compelling argument, so I'm thinking about it," Trump told reporters.

Big department store chains also rose Monday, recovering some of the ground lost last week after Macy's slashed its profit forecast for the year. Nordstrom gained 3.1% and Gap added 4.4%. Macy's rose 0.9%.

This week offers investors a couple of opportunities to gauge the Federal Reserve's willingness to cut interest rates further.

The central bank is releasing the minutes from its last meeting of policymakers Wednesday. Two days later, Fed Chairman Jerome Powell is scheduled to deliver a speech at the central bank's annual conference in Jackson Hole, Wyoming.

Investors are hoping the Fed will continue to cut interest rates to shore up economic growth. The Fed lowered interest rates by a quarter-point at its last meeting. It was the first time it lowered rates in a decade.

In two tweets Monday, President Donald Trump called on the Fed to cut interest rates by at least a full percentage point "over a fairly short period of time," saying that such an action would make the U.S. economy even better and would also "greatly and quickly" enhance the global economy.

Traders will be weighing new data on sales of new U.S. homes Friday and earnings reports from several big retailers this week, including Home Depot, Target and Gap, for any hints about the health of consumer spending.

U.S. crude oil rose $1.34 to settle at $56.21 a barrel. Brent crude, the international standard, rose $1.10 to close at $59.74 a barrel. Wholesale gasoline was unchanged at $1.66 per gallon. Heating oil climbed 2 cents to $1.83 per gallon. Natural gas rose 1 cent to $2.21 per 1,000 cubic feet.

Gold fell $12.10 to $1,500.40 per ounce, silver fell 19 cents to $16.91 per ounce and copper rose 1 cent to $2.60 per pound.

The dollar rose to 106.62 yen from 106.29 yen on Friday. The euro weakened to $1.1082 from $1.1093.

460


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## sptrawler

From bigdogs post below:
_The surge in tech stocks followed a decision by the U.S. to give Chinese telecom giant Huawei another 90 days to buy equipment from American suppliers. Chipmakers including Qualcomm, Intel and Micron, all rose.

The decision to give Huawei more time to buy goods from U.S. companies appeared to put investors eager for any signs of progress in the trade war between the U.S. and China in a buying mood_ .

That to me sounds like movement is afoot to come to some sort of common ground, between the U.S and China, things could really hot up if a sensible outcome is reached between them. 

By the way thanks very much bigdog for your early morning 'Dow Jones" post, it is the first thing I read, with the porridge and cup of tea. 
Cheers mate, don't ever think it isn't appreciated.


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## bigdog

Stocks fell broadly on Wall Street Tuesday after another slide in bond yields and a mixed batch of corporate earnings weighed on the market.

The selling pulled every major sector lower, snapping a three-day winning streak for the S&P 500.

Financial sector stocks bore the brunt of the decline as investors reacted to lower yields. Technology stocks, which like banks have tended to lead the market's gains recently, gave up an early gain.

The S&P 500 fell 23.14 points, or 0.8%, to 2,900.51. The Dow Jones Industrial Average slid 173.35, or 0.7%, to 25,962.44. The Nasdaq, which is heavily weighted with technology stocks, dropped 54.25, or 0.7%, to 7,948.56.

The DOW took a dive in the last 5 minutes check chart!!

The Australian share market looks set to drop lower on Wednesday after a disappointing night of trade on Wall Street. According to the latest SPI futures, the ASX 200 index is due to open the day 48 points or 0.75% lower this morning.















https://www.usnews.com/news/busines...mostly-rise-after-wall-street-rally-on-huawei

*Major US Stock Indexes Finish Lower, Snapping a 3-Day Rally*
Stocks fell broadly on Wall Street Tuesday after another slide in bond yields and a mixed batch of corporate earnings weighed on the market.
By Associated Press, Wire Service Content Aug. 20, 2019, at 4:59 p.m.

By ALEX VEIGA, AP Business Writer

Stocks fell broadly on Wall Street Tuesday after another slide in bond yields and a mixed batch of corporate earnings weighed on the market.

The selling pulled every major sector lower, snapping a three-day winning streak for the S&P 500.

Financial sector stocks bore the brunt of the decline as investors reacted to lower yields. Technology stocks, which like banks have tended to lead the market's gains recently, gave up an early gain.

Home Depot climbed after the home improvement retailer reported earnings that topped Wall Street's forecasts. But two other big retailers didn't fare as well. Investors sent Kohl's and TJX lower after their latest quarterly report cards fell short of analysts' expectations.

Tuesday's market slide is the latest twist for stocks, which have been caught in the grips of volatile trading all month as anxious investors alternate between seeking shelter in bonds and pouncing on stocks when prices slump.

"The market is taking a little bit of a breather here," said Tony Roth, chief investment officer at Wilmington Trust. "You're getting just a little bit of consolidation after the rally we've had over the last three or four days."

The S&P 500 fell 23.14 points, or 0.8%, to 2,900.51. The Dow Jones Industrial Average slid 173.35, or 0.7%, to 25,962.44. The Nasdaq, which is heavily weighted with technology stocks, dropped 54.25, or 0.7%, to 7,948.56. The Russell 2000 index of smaller company stocks gave up 10.84 points, or 0.7%, to 1,498.01.

All four indexes are on track to finish the month with losses.

The market has been highly volatile all month as investors try to parse conflicting signals on the U.S. economy and determine whether a recession is on the horizon. A key concern is that the escalating and costly trade conflict between the world's two biggest economies will hamper growth around the globe.

Earlier this month, President Donald Trump announced plans to extend tariffs across virtually all Chinese imports, many of them consumer products that were exempt from earlier rounds of tariffs.

Uncertainty over trade clouded an otherwise strong quarterly report card from Home Depot.

The home improvement retailer cut its sales expectations for the year Tuesday, citing declining lumber prices and the potential impacts to the U.S. consumer arising from recently announced tariffs.

That didn't scare off investors. Home Depot shares jumped 4.4%, the biggest gain in the S&P 500, as investors focused on the company's solid quarterly results. Lowe's rode its rival's surge, finishing with a 3% gain.

Kohl's, meanwhile, was the biggest decliner in the S&P 500. The department store operator reported a sharper than expected decline in sales at established locations during the second quarter. The stock lost 6.9%.

Another decline in bond yields also weighed on the market Tuesday. The yield on the 10-year Treasury slipped to 1.55% from 1.59% late Monday.

When bond yields fall, it pulls down the interest rates that banks pocket on mortgages and other consumer loans. That helped pull financial stocks lower. Bank of America dropped 2%.

Technology stocks, which like banks have tended to lead the market's gains recently, also fell after briefly turning higher in the middle of the day. Western Digital dropped 1.9%.

Some chipmakers continued to rise on news Monday that the U.S. gave Chinese telecom giant an extension to buy more supplies from U.S. companies. Qualcomm added 1.6%.

Household goods makers and communication services stocks were among the decliners. Energy stocks also fell.

Last week, many stock indexes around the world struck their lowest levels this year, before a late rally suggested some calm was returning to the markets in what is a traditionally low-volume time of the year. Analysts say the concerns that drove last week's sell-off could resurface at any time.

Investors will be seeking new insight this week into the Federal Reserve's willingness to make further interest rate cuts.

The central bank is releasing the minutes from last month's meeting of policymakers Wednesday. Two days later, Fed Chairman Jerome Powell is scheduled to deliver a speech at the central bank's annual conference in Jackson Hole, Wyoming.

Investors are hoping the Fed will continue to cut interest rates to shore up economic growth. The Fed lowered interest rates by a quarter-point at its last meeting, the first cut in a decade.

"Coming into this meeting Friday for the speech, the market is really going to be looking for something that suggests that (Powell) has changed his approach and that this is going to be more of a systematic lowering of interest rates," Roth said. "He may not provide what the market wants."

Benchmark crude oil fell 3 cents to settle at $56.18 a barrel. Brent crude oil, the international standard, rose 29 cents to close at $60.03 a barrel. Wholesale gasoline rose 2 cents to $1.68 per gallon. Heating oil climbed 2 cents to $1.85 per gallon. Natural gas rose 1 cent to $2.22 per 1,000 cubic feet.

Gold rose $4.20 to $1,504.60 per ounce, silver rose 21 cents to $17.12 per ounce and copper fell 3 cents to $2.57 per pound.

The dollar fell to 106.32 Japanese yen from 106.62 yen on Monday. The euro strengthened to $1.1097 from $1.1082.

532


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## explod

So pre market Trump says he's de-classifying some documents and the other headline is that the Italian crisis is no big deal and soooo the DOW jumps outa the box:-


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## bigdog

Strong earnings reports from several big retailers helped drive stocks broadly higher on Wall Street Wednesday as the market bounced back from its first loss in four days.

Target notched its biggest-ever gain, while Lowe’s had its best day in more than a year, leading a broad rally in companies that rely on consumer spending. Nordstrom, Kohl’s, Gap and other retailers closed higher.

Technology companies accounted for a big share of the gains. Financial stocks rose as bond prices fell, pushing yields higher. Real estate and materials stocks lagged the rest of the market.

The S&P 500 rose 23.92 points, or 0.8%, to 2,924.43. The Dow Jones Industrial Average gained 240.29 points, or 0.9%, to 26,202.73. The Nasdaq added 71.65 points, or 0.9%, to 8,020.21. The Russell 2000 index of smaller company stocks picked up 11.84 points, or 0.8%, to 1,509.85.

According to the latest SPI futures, the ASX 200 index is due to open the day 20 points or 0.3% higher this morning following solid gains on Wall Street.










https://www.apnews.com/66f8b67d89214068a1ab461e9b4edc6d

*US stocks climb after major US retailers post solid earnings*

By Alex Veiga | AP
August 21 an hour ago
Strong earnings reports from several big retailers helped drive stocks broadly higher on Wall Street Wednesday as the market bounced back from its first loss in four days.

Target notched its biggest-ever gain, while Lowe’s had its best day in more than a year, leading a broad rally in companies that rely on consumer spending. Nordstrom, Kohl’s, Gap and other retailers closed higher.

Technology companies accounted for a big share of the gains. Financial stocks rose as bond prices fell, pushing yields higher. Real estate and materials stocks lagged the rest of the market.

Investors have been worried that U.S. economic and corporate earnings growth could stumble under the strain of a slowing global economy and the costly trade war between the U.S. and China. But the strong quarterly results from the retailers encouraged traders, who see the performance as a sign that U.S. consumers, which account for 70% of U.S. economic growth, are healthy.

“We had a couple of great earnings reports this morning, especially Target, which is a good barometer of the consumer,” said Dan Heckman, national investment consultant at U.S. Bank Wealth Management. “The consumer still appears to be spending and doing well.”

The S&P 500 rose 23.92 points, or 0.8%, to 2,924.43. The Dow Jones Industrial Average gained 240.29 points, or 0.9%, to 26,202.73. The Nasdaq added 71.65 points, or 0.9%, to 8,020.21. The Russell 2000 index of smaller company stocks picked up 11.84 points, or 0.8%, to 1,509.85.

Major indexes in Europe also finished broadly higher.

The stock market has been volatile this month as investors try to parse conflicting signals on the U.S. economy and determine whether a recession is on the way. A key concern is that the U.S.-Chinese tariff war will weigh on global economic growth.

The Trump administration has imposed a 25% tariff on $250 billion in Chinese imports. A pending 10% tariff on another $300 billion in goods would hit everything from toys to clothing and shoes that China ships to the United States, however some 60% of the new tariffs wouldn’t go into effect until mid-December, and others were taken off the table altogether.

The potential impact those tariffs could have on U.S. consumers could hurt sales for Target and other big retailers. Home Depot on Tuesday cut its sales expectations for the year in part because of the potential tariff impact.

A look at Target and Lowe’s earnings Wednesday appeared to dim investors’ concerns about the impact tariffs may have on U.S. consumers.

Target soared 20.4% after the company easily beat profit forecasts for its second quarter. Target has been pushing faster delivery and investing heavily in new private label brands.

Traders also bid up shares in Lowe’s sharply higher after the home improvement retailer’s latest quarterly results blew past expectations, buoyed by strong demand for spring goods and sales to contractors. The company’s strong quarter came even as it wrestled with lower lumber prices and rough spring weather. The stock jumped 10.4%.

Lowe’s solid earnings came a day after rival Home Depot reported strong results of its own. Home Depot added 1.6%.

Investors took a dim view of Cree’s latest quarterly results. Shares in the maker of energy-efficient lighting tumbled 15.8% after it issued a weak forecast as it deals with the fallout from the U.S.-China trade war.

Encouraging housing market data sent homebuilders higher. The National Association of Realtors said sales of previously occupied U.S. homes rose 2.5% last month. The increase is a sign that lower mortgage rates are helping to increase sales, which have been sluggish amid rising housing prices and a stubborn shortage of homes on the market. Hovnanian Enterprises vaulted 18.5% and LGI Homes rose 2.8%.

Traders had a muted reaction to the afternoon release of notes from the Federal Reserve’s policymaking meeting last month. The minutes showed officials were divided in their decision to cut interest rates for the first time in a decade.

Investors have been seeking insight into the Fed’s willingness to make further interest rate cuts to help shore up the economy. Traders are now looking ahead to Friday, when Fed Chairman Jerome Powell is scheduled to speak at the central bank’s annual conference in Jackson Hole, Wyoming.

Traders will be listening for clues as to what Fed officials will cut rates again at its next meeting in September.

“Powell is in a difficult spot in that you have a meeting coming up in September and everybody is looking to him,” said Tom Martin, senior portfolio manager with Globalt Investments. “Even though we want some more information and a nod, one way or the other, toward September, I don’t think we’re going to get one.”

The Fed cut its key policy rate on July 31 for the first time in more than a decade. It cited a number of “uncertainties” that were threatening the country’s decade-long expansion, from Trump’s trade battles to slowing global growth.

While the encouraging earnings put investors in a buying mood Wednesday, Heckman noted that August and September are historically some of the weakest months of the year for stocks, so investors should expect more market volatility, particularly if the U.S. and China don’t strike a trade deal.

Bond prices fell. The yield on the 10-year Treasury rose to 1.59% from 1.56% late Tuesday. It briefly dropped below the two-year Treasury’s yield for the first time in a week. This so-called inversion of the U.S. yield curve has accurately predicted the past five recessions.

Crude oil fell 45 cents to settle at $55.68 a barrel. Brent crude, the international standard, rose 27 cents to close at $60.30 a barrel. Wholesale gasoline rose 1 cent to $1.69 per gallon. Heating oil climbed 1 cent to $1.86 per gallon. Natural gas fell 5 cents to $2.17 per 1,000 cubic feet.

Gold was unchanged at $1,504.60 per ounce, silver rose 1 cent to $17.13 per ounce and copper rose 1 cent to $2.58 per pound.

The dollar rose to 106.61 Japanese yen from 106.32 yen on Tuesday. The euro weakened to $1.1085 from $1.1097.


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## bigdog

A wobbly day on Wall Street left stock indexes mostly lower Thursday as investors turned cautious ahead of a widely anticipated speech by the Federal Reserve chairman.

Losses by health care, technology and energy companies, among other sectors, outweighed gains by banks, consumer goods makers and elsewhere in the market. Bond prices fell, nudging yields higher.

Stocks gave up an early gain and then wavered through much of the day after a mixed batch of economic data coupled with remarks from two Federal Reserve bank presidents left investors less certain about the likelihood that the central bank will lower interest rates again next month.

The S&P 500 fell 1.48 points, or 0.1%, to 2,922.95. It swung between a gain of 0.5% and a loss of 0.7%. A pickup in Boeing helped drive the Dow Jones Industrial Average higher. The Dow gained 49.51 points, or 0.2%, to 26,252.24.

The Nasdaq dropped 28.82 points, or 0.4%, to 7,991.39. The Russell 2000 index of smaller company stocks lost 3.85 points, or 0.3%, to 1,506.

According to the latest SPI futures, the ASX 200 index is due to open the day 15 points or 0.2% lower this morning following a mixed night of trade on Wall Street.










https://www.usnews.com/news/busines.../asian-stocks-mixed-after-wall-street-rebound

*US Stock Indexes End Mixed Ahead of Fed Chairman Speech*
A wobbly day on Wall Street left stock indexes mostly lower Thursday as investors turned cautious ahead of a widely anticipated speech by the Federal Reserve chairman.
By Associated Press, Wire Service Content Aug. 22, 2019, at 5:14 p.m. 

By ALEX VEIGA, AP Business Writer

A wobbly day on Wall Street left stock indexes mostly lower Thursday as investors turned cautious ahead of a widely anticipated speech by the Federal Reserve chairman.

Losses by health care, technology and energy companies, among other sectors, outweighed gains by banks, consumer goods makers and elsewhere in the market. Bond prices fell, nudging yields higher.

Stocks gave up an early gain and then wavered through much of the day after a mixed batch of economic data coupled with remarks from two Federal Reserve bank presidents left investors less certain about the likelihood that the central bank will lower interest rates again next month.

Traders hope for a better read on Fed policy Friday, when Chairman Jerome Powell is scheduled to speak at the central bank's annual conference in Jackson Hole, Wyoming.

"The market is expecting a rate cut in September, and if Powell doesn't think that consensus is going to be to cut rates, he needs to start preparing the market for that," said Willie Delwiche, investment strategist at Baird.

The S&P 500 fell 1.48 points, or 0.1%, to 2,922.95. It swung between a gain of 0.5% and a loss of 0.7%. A pickup in Boeing helped drive the Dow Jones Industrial Average higher. The Dow gained 49.51 points, or 0.2%, to 26,252.24.

The Nasdaq dropped 28.82 points, or 0.4%, to 7,991.39. The Russell 2000 index of smaller company stocks lost 3.85 points, or 0.3%, to 1,506.

Bond prices fell. The yield on the 10-year Treasury yield rose to 1.61% from 1.57% late Wednesday.

The Fed cut its key policy rate July 31 for the first time in more than a decade, citing a number of "uncertainties" that were threatening the country's decade-long expansion, from Trump's trade battles to slowing global growth.

Investors have been convinced that the central bank will follow up the July rate cut with further cuts at coming meetings, beginning with one next month.

But remarks from Esther George, president of the Fed's Kansas City regional bank, and Philadelphia Fed President Patrick Harker, have injected some doubt about what the Fed will do next.

In televised interviews, both said they don't see a need for another rate cut.

George and Eric Rosengren, president of the Boston Fed, dissented from the 8-2 rate cut vote, arguing that they favored no rate cut at all.

Minutes from the Fed's July meeting released Wednesday provided little clarity on what the future course for rates will be.

Investors now predict a 91.2% likelihood that the Fed will cut its benchmark rate by a quarter-point next month, according to the CME Group, which tracks investor bets on central bank policy. That's down from 98.5% the day before.

New economic data also has done little to make clear the Fed's next move. Positive consumer-related data on home sales, retail spending and jobless claims could argue against the need for lower rates. But a closely watched index that showed manufacturing contracted this month for the first time in a decade could help make the case for another cut.

"The market is trying to figure out what Powell is going to say tomorrow," said Delwiche. "Any news today is being viewed through that context."

Investors worried that uncertainty over the U.S.'s escalating trade war with China could cause the economy to stumble, hurting corporate profits.

The Trump administration has imposed a 25% tariff on $250 billion in Chinese imports. A pending 10% tariff on another $300 billion in goods would hit everything from toys to clothing and shoes that China ships to the United States, however some 60% of the new tariffs wouldn't go into effect until mid-December, and others were taken off the table altogether.

Surprisingly strong quarterly results from several big retailers this week have given investors reasons to hope that consumers are still eager to spend despite the cloudy economic outlook.

Traders bid up shares in Nordstrom, BJ's Wholesale Club and Dicks' Sporting Goods Thursday after the companies reported quarterly results that topped analysts' forecasts.

Nordstrom jumped 15.9%, BJ's Wholesale Club vaulted 17.2% and Dicks' Sporting Goods added 3.6%.

L Brands was a notable exception. The owner of Victoria's Secret and Bath & Body Works gave a third quarter earnings outlook that fell below what analysts expected. It shares slid 3.5%.

Another retailer, Overstock, surged 8.3% after its CEO resigned, saying he'd become "far too controversial" to helm the e-commerce company. Patrick Byrne's resignation came after the company issued an bizarre statement last week in which the former CEO referred to the "Deep State," called federal agents "Men in Black" and confirmed a journalist's stories detailing his relationship with a gun-rights activist who was sentenced to prison for being an unregistered agent of Russia.

Homebuilders surged for the second straight day after weekly average long-term mortgage rates slipped to their lowest level since November 2016. Low mortgage rates give homebuyers more purchasing power. Hovnanian Enterprises led the pack, climbing 4.4%.

Boeing climbed 4.2% after a published report suggested the aircraft manufacturer plans to increase production of 737 jets in February if it receives clearance from regulators. The 737 Max was grounded following two crashes that together killed 346 people.

Benchmark crude oil fell 33 cents to settle at $55.35 a barrel. Brent crude oil, the international standard, dropped 38 cents to close at $59.92 a barrel. Wholesale gasoline fell 2 cents to $1.67 per gallon. Heating oil declined 2 cents to $1.84 per gallon. Natural gas fell 1 cent to $2.16 per 1,000 cubic feet.

Gold fell $7.30 to $1,497.30 per ounce, silver fell 12 cents to $17.01 per ounce and copper fell 3 cents to $2.55 per pound.


----------



## bigdog

The Dow Jones Industrial Average plunged more than 600 points Friday after the latest escalation in the trade war between the U.S. and China rattled investors. The broad sell-off sent the S&P 500 to its fourth straight weekly loss.

Stocks tumbled after President Donald Trump responded angrily on Twitter following China's announcement of new tariffs on $75 billion in U.S. goods. In one of his tweets he "hereby ordered" U.S. companies with operations in China to consider moving them to other countries — including the U.S.

Trump also said he'd respond directly to the tariffs — and after the market closed he delivered, announcing that the U.S. would increase existing tariffs on $250 billion in Chinese goods to 30% from 25%, and that new tariffs on another $300 billion of imports would be 15% instead of 10%. Those announcements are likely to influence stock markets in Asia when trading opens there Monday.

The S&P 500 fell 75.84 points, or 2.6%, to 2,847.11. The index is now down 4.5% for the month. It's still up 13.6% for the year.

The Dow lost 623.34 points, or 2.4%, to 25,628.90. The average briefly dropped 745 points. The Dow has had five declines of 2% or more this year, with three of them coming this month.











DOW vs AORD 12 month chart





https://www.usnews.com/news/busines...an-stocks-mixed-ahead-of-fed-chairmans-speech

*US Stocks Tumble as US-China Trade War Rattles Investors*
The Dow Jones Industrial Average plunged more than 600 points Friday after the latest escalation in the trade war between the U.S. and China rattled investors.
By Associated Press, Wire Service Content Aug. 23, 2019, at 6:19 p.m.

By ALEX VEIGA, AP Business Writer

The Dow Jones Industrial Average plunged more than 600 points Friday after the latest escalation in the trade war between the U.S. and China rattled investors. The broad sell-off sent the S&P 500 to its fourth straight weekly loss.

Stocks tumbled after President Donald Trump responded angrily on Twitter following China's announcement of new tariffs on $75 billion in U.S. goods. In one of his tweets he "hereby ordered" U.S. companies with operations in China to consider moving them to other countries — including the U.S.

Trump also said he'd respond directly to the tariffs — and after the market closed he delivered, announcing that the U.S. would increase existing tariffs on $250 billion in Chinese goods to 30% from 25%, and that new tariffs on another $300 billion of imports would be 15% instead of 10%. Those announcements are likely to influence stock markets in Asia when trading opens there Monday.

Friday's developments mark the latest escalation of an ongoing trade dispute between Washington and Beijing that has given investors whiplash as they try to assess its potential impact on the global economy. The tweets from Trump around 11 a.m. ignited a wave of selling as investors fled stocks in favor of U.S. government bonds, pushing yields higher. The price of gold also rose.

"The market is spooked by the escalation in the trade war," said Janet Johnston, portfolio manager at TrimTabs Asset Management. "Investors are looking for an endgame and we haven't seen it yet."

The S&P 500 fell 75.84 points, or 2.6%, to 2,847.11. The index is now down 4.5% for the month. It's still up 13.6% for the year.

The Dow lost 623.34 points, or 2.4%, to 25,628.90. The average briefly dropped 745 points. The Dow has had five declines of 2% or more this year, with three of them coming this month.

The Nasdaq gave up 239.62 points, or 3%, to 7,751.77. The Russell 2000 index of smaller company stocks skidded 46.52 points, or 3.1%, to 1,459.49.

Trump also said Friday morning that he was "ordering" UPS, Federal Express and Amazon to block any deliveries from China of the powerful opioid drug fentanyl. The stocks of all three companies fell as traders tried to assess the possible implications.

Matt Arnold, an analyst who covers FedEx and UPS for Edward Jones, said it could be difficult for the companies to comply should the administration draft detailed guidelines for rooting out fentanyl.

"It's difficult to picture a scenario where UPS and FedEx are all that well-equipped to detect something like this," he said.

The trade scuffle nearly overshadowed a speech by Jerome Powell in which the chairman of the Federal Reserve indicated the central bank was prepared to cut interest rates but gave no clear signal on when and by how much.

Speaking at a Fed policy conference in Jackson Hole, Wyoming, Powell noted that there's growing evidence of a global economic slowdown and suggested that uncertainty over Trump's trade wars have complicated the central bank's ability to set interest rate policy. Powell said the Fed "will act as appropriate to sustain the expansion."

Some economists saw Powell's speech as setting the stage for further interest rate cuts this year. A quarter-point rate cut reduction in September is considered all but certain. Some think the Fed will cut rates again in December.

Trump responded by again criticizing the Fed for being too slow to cut interest rates.

Technology companies, which have much to lose in the trade battle, bore the brunt of the sell-off. Apple slid 4.6% and Microsoft gave up 3.2%. Chipmaker Nvidia dropped 5.3%.

Companies that rely on consumer spending also took losses. Retailer L Brands plunged 9.3%.

Energy stocks headed lower along with crude oil prices. The price of benchmark crude sank $1.18, or 2.1% to settle at $54.17 a barrel as traders worried that the latest escalation in the trade battle could sap global demand for energy.

U.S. bond prices rose sharply as investors sought safety, sending yields lower. The yield on the 10-year Treasury fell to 1.53% from 1.61%, a large move. Banks fell because lower yields can translate to a decline in the interest rate that lenders charge for mortgages and other consumer loans. JPMorgan Chase lost 2.5% and Citigroup dropped 3.1%.

The price of gold, another safe haven for investors during times of market turbulence and economic weakness, rose $29.30 to $1,526.60 per ounce.

In other commodities trading Friday, Brent crude oil, the international standard, fell 58 cents to close at $59.34 a barrel. Wholesale gasoline fell 3 cents to $1.64 per gallon. Heating oil declined 2 cents to $1.82 per gallon. Natural gas fell 1 cent to $1.15 per 1,000 cubic feet.

Silver fell 39 cents to $17.40 per ounce and copper fell 2 cents to $2.53 per pound.

The dollar fell to 105.31 Japanese yen from 106.41 yen on Thursday. The euro strengthened to $1.1145 from $1.1085.

664


----------



## bigdog

Stocks closed broadly higher on Wall Street Monday as investors found reason to be cautiously optimistic again about the potential for progress in the costly trade war between the U.S. and China.

The gains reversed some of the major stock indexes' hefty losses from last Friday, when jitters over the latest escalation in the trade dispute roiled the market, contributing to its fourth straight weekly loss.

Monday's rally got its start early after President Donald Trump said his negotiators had received encouraging calls from China on Sunday, though China's foreign ministry denied knowledge of any such call

Markets in Britain were closed for a national holiday.

According to the latest SPI futures, the ASX 200 index is poised to open the day 16 points or 0.25% higher this morning.










https://www.usnews.com/news/busines...mble-as-us-china-trade-war-renews-uncertainty

*US Stocks Rally on Optimism for a US-China Trade War Thaw*
Stocks closed broadly higher on Wall Street Monday as investors found reason to be cautiously optimistic again about the potential for progress in the costly trade war between the U.S. and China.
By Associated Press, Wire Service Content Aug. 26, 2019, at 5:14 p.m. 

By ALEX VEIGA, AP Business Writer

Stocks closed broadly higher on Wall Street Monday as investors found reason to be cautiously optimistic again about the potential for progress in the costly trade war between the U.S. and China.

The gains reversed some of the major stock indexes' hefty losses from last Friday, when jitters over the latest escalation in the trade dispute roiled the market, contributing to its fourth straight weekly loss.

Monday's rally got its start early after President Donald Trump said his negotiators had received encouraging calls from China on Sunday, though China's foreign ministry denied knowledge of any such calls.

That, nor the fact that the trade conflict has repeatedly seen both sides attempt to negotiate before ending in acrimony and more tariffs and trade penalties, did not dim investors' willingness to bid stocks higher.

Big technology companies, which do a lot of business in China and have much riding on the outcome of the trade dispute, accounted for a big share of the gains. Apple climbed 1.9% and Microsoft added 1.5%.

"It always seems that Trump, after he does something to freak the market out or escalate this trade war, he tries to dial it back to some degree," said Brad Bernstein, senior portfolio manager at UBS Wealth Management USA. "As an investor, you just have to know there's a lot of uncertainty and there is no clarity in the short term right now."

The S&P 500 rose 31.27 points, or 1.1%, to 2,878.38. The Dow Jones Industrial Average gained 269.93 points, or 1.1%, to 25,898.83. The Nasdaq, which is heavily weighted with technology stocks, rose 101.97 points, or 1.3%, to 7,853.74.

The Russell 2000 index of smaller companies picked up 16.52 points, or 1.1%, to 1,476.

The major indexes are each on track for losses of 3% or more in August in what has been a volatile month for the market as investors try to gauge whether trade conflicts and slowing economies around the world will drag the U.S. into a recession.

Along the way, traders have been repeatedly whipsawed by the turns in the trade war between the world's biggest economies.

The conflict escalated once again on Friday, after China announced new tariffs on $75 billion in U.S. goods. Trump responded angrily on Twitter, at one point saying he "hereby ordered" U.S. companies with operations in China to consider moving them to other countries, including the U.S.

Trump also later announced that the U.S. would increase existing tariffs on $250 billion in Chinese goods to 30% from 25%, and that new tariffs on another $300 billion of imports would be 15% instead of 10%.

The new round of tariff threats caused a sell-off on Friday that erased more than 600 points from the Dow. Global markets appeared headed for another wave of selling early Monday, when indexes in China closed sharply lower, until Trump said his trade negotiators had received two "very good calls" from China on Sunday.

During a press conference in France after the G7 meeting, the president said that "China wants to make a deal, and if we can, we will make a deal."

Trump expressed his optimism about China hours after he sent mixed messages on the tariff war. He at first seemed to express regret Sunday over escalating the trade dispute, but the White House later said his only regret was that he didn't impose even higher tariffs on China.

The White House announced weeks ago that China's negotiating team was expected in Washington in September to continue the discussions.

Ben Phillips, chief investment officer at EventShares, credited Monday's market bounce on investors buying back in after a big sell-off more than on real optimism over the long-running trade conflict.

"Every time you have a big down day like that you expect the following day to be a little bit of a recovery bounce that is more bouncing on the sell-off than it is on anything happening today," he said.

Analysts say investors should expect more sharp turns in the trade negotiations.

"There's not a clear strategy on trade, that's what the market is coming to terms with," Phillips said. "That's what Friday showed us. The market is getting worried about emotions running high in the White House and less logic."

Communications services and health care stocks also contributed to Monday's gains. Dish Network climbed 3.9% and Bristol-Myers Squibb rose 3.3%.

Bond prices fell, which sent the yield on the 10-year Treasury up to 1.54% from 1.52% late Friday. Higher yields push up interest rates on mortgages and other consumer loans, which helped drive bank shares higher. Bank of America gained 1.2%.

Major indexes in Germany and France closed higher. Markets in Britain were closed for a national holiday.

Benchmark crude oil fell 53 cents to settle at $53.64 a barrel. Brent crude oil, the international standard, fell 64 cents to close at $58.70 a barrel. Wholesale gasoline fell 2 cents to $1.62 per gallon. Heating oil declined 3 cents to $1.79 per gallon. Natural gas rose 8 cents to $2.23 per 1,000 cubic feet.

Gold fell 30 cents to $1,526.30 per ounce, silver rose 22 cents to $17.62 per ounce and copper rose 1 cent to $2.54 per pound.

The dollar rose to 106.19 Japanese yen from 105.31 yen on Friday. The euro weakened to $1.1098 from $1.1145.


----------



## bigdog

Stocks capped a wobbly day on Wall Street with broad losses Tuesday as anxious investors shifted money to U.S. government bonds, gold and other traditional safe-haven assets.

The selling, which erased some of the market's gains from a strong rally a day earlier, came as long-term bond yields once again fell below short-term ones, a rare phenomenon that has correctly predicted previous recessions.

Worries that the costly trade war between the U.S. and China will drag the U.S. economy into a recession have increased demand for U.S. government bonds. On Tuesday, that pulled the yield in the 10-year Treasury below that of the two-year Treasury.

This so-called inversion of the U.S. yield curve has accurately predicted the past five recessions.

The S&P 500 fell 9.22 points, or 0.3%, to 2,869.16. The benchmark index has fallen for the past four weeks in a row.

The Dow Jones Industrial Average dropped 120.93 points, or 0.5%, to 25,777.90. The Nasdaq slid 26.79 points, or 0.3%, to 7,826.95.

According to the latest SPI futures, the ASX 200 index is poised to open the day 10 points or 0.15% lower this morning.










https://www.usnews.com/news/busines...ets-rise-on-optimism-about-us-china-trade-war

*US Stocks Slide as Bond Yields Surge on Trade War Worries*
Stocks capped a wobbly day on Wall Street with broad losses Tuesday as anxious investors shifted money to U.S. government bonds, gold and other traditional safe-haven assets.
By Associated Press, Wire Service Content Aug. 27, 2019, at 5:04 p.m.

By ALEX VEIGA, AP Business Writer

Stocks capped a wobbly day on Wall Street with broad losses Tuesday as anxious investors shifted money to U.S. government bonds, gold and other traditional safe-haven assets.

The selling, which erased some of the market's gains from a strong rally a day earlier, came as long-term bond yields once again fell below short-term ones, a rare phenomenon that has correctly predicted previous recessions.

Worries that the costly trade war between the U.S. and China will drag the U.S. economy into a recession have increased demand for U.S. government bonds. On Tuesday, that pulled the yield in the 10-year Treasury below that of the two-year Treasury.

This so-called inversion of the U.S. yield curve has accurately predicted the past five recessions.

"You have a symptom in the inversion, but really the cause of that symptom is the tariffs and the trade war causing a global slowdown," said Dan Heckman, national investment consultant at U.S. Bank Wealth Management.

The S&P 500 fell 9.22 points, or 0.3%, to 2,869.16. The benchmark index has fallen for the past four weeks in a row.

The Dow Jones Industrial Average dropped 120.93 points, or 0.5%, to 25,777.90. The Nasdaq slid 26.79 points, or 0.3%, to 7,826.95.

Smaller company stocks bore the brunt of the selling, which sent the Russell 2000 index down 19.96 points, or 1.4%, to 1,456.04.

Major indexes in Europe closed mostly higher.

The major U.S. indexes are on track for losses of 3% or more in August in what has been a volatile month for the market.

From the get-go Tuesday the indexes appeared headed to extend the gains from Monday's rally. But they turned lower by midmorning as the inversion between long-term and short-term bond yields became more worrisome.

The yield on the 10-year Treasury note tumbled to 1.48% from 1.54% late Monday. It briefly dropped to 1.468%. At the same time, the yield on the two-year Treasury dropped to 1.51%, down from 1.53% a day earlier. The yield at one point climbed as high as 1.54%.

When the yield curve inverted earlier this month for the first time since 2007, it led to a broad market sell-off.

While the inversion in the yield curve has been a good indicator of a coming recession in the past, it usually means a recession is at least a year off, said J.J. Kinahan, chief market strategist for TD Ameritrade.

"Just because it happened doesn't mean the world ends," he said. "We do still have the China tariff situation, which many believe, if settled quickly, could also lead to a quick economic expansion."

Financial sector stocks fell the most as bond prices surged, which pulled yields sharply lower. When yields decline it means lower profits for banks, because they pull down interest rates on mortgage and other loans. JPMorgan Chase fell 1.1% and Citigroup dropped 1.7%.

The latest losses mark a shift in investor sentiment from just a day earlier, when tentative optimism about the potential for progress in the trade war drove a broad market rally.

Last week, the trade conflict escalated again with Washington and Beijing threatening new tariffs on each other's goods, triggering a sharp sell-off in global markets. On Monday the market recouped some of those losses after President Donald Trump said his negotiators had received encouraging calls from China over the weekend. Traders drew encouragement from the development, even though China's foreign ministry denied knowledge of any such calls.

Market watchers are becoming increasingly circumspect about what lies ahead. UBS, the largest wealth manager in the world, recommended that customers reduce their exposure to stocks, the first time the bank has done so since the depths of Europe's debt crisis in 2012.

"What's still rattling investors is the reality that the trade war is dragging on and, despite discussions about an upcoming meeting, the market is losing confidence that perhaps that might take place," Heckman said.

Health care stocks and several big retailers also fell Tuesday. Humana slid 5.8%, while Gap slid 4.9%.

Safe-play sectors like utilities and real estate were among the gainers. Exelon added 1.2% and Welltower rose 0.4%.

Investors also shifted money into traditional safe havens like gold, which climbed $14.70 to $1,541 per ounce. Gold producer Barrick Gold rose 3.1%.

Shares in Philip Morris International slid 7.8% after the maker of Marlboro cigarettes confirmed that it is in merger talks with Altria Group more than a decade after the tobacco companies split. Altria has focused on cigarette sales in the U.S. while Philip Morris has handled international sales. Philip Morris said that there is no guarantee of success in what would be an all-stock deal. Altria shares dropped 4%.

J.M. Smucker sank 8.2% after turning in weak results.

Johnson & Johnson rose 1.4% after a ruling against the company in an Oklahoma opiod case wound up being less than investors were expecting.

Troubled pizza company Papa John's climbed 9.5% after naming a new CEO.

In commodities trading, benchmark crude oil rose $1.29 to settle at $54.93 a barrel. Brent crude oil, the international standard, rose 81 cents to close at $59.51 a barrel. Wholesale gasoline rose 3 cents to $1.65 per gallon. Heating oil climbed 3 cents to $1.82 per gallon. Natural gas fell 3 cents to $2.20 per 1,000 cubic feet.

Silver rose 52 cents to $18.14 per ounce and copper was unchanged at $2.54 per pound.

The dollar fell to 105.78 Japanese yen from 106.19 yen on Monday. The euro weakened to $1.1093 from $1.1098.


----------



## bigdog

Stocks overcame an early stumble and closed broadly higher Wednesday as the market more than made up its losses from a day earlier.

Retailers, health care and industrial companies notched solid gains. Financial and energy stocks also helped power the rally.

The two sectors have taken the heaviest losses this month as fear that the U.S. trade war with China is hampering global economic growth roiled markets.

"Markets are trading higher as investors await news on the China trade front," said Cayman Wills, global head of equities at J.P. Morgan Private Bank. "It's just the absence of bad news that's letting markets trade higher."

The S&P 500 rose 18.78 points, or 0.7%, to 2,887.94. The Dow Jones Industrial Average climbed 258.20 points, or 1%, to 26,036.10. The Nasdaq recovered from an early slide, gaining 29.94 points, or 0.4%, to 7,856.88

According to the latest SPI futures, the ASX 200 index is poised to open the day 9 points or 0.15% lower this morning.









https://www.usnews.com/news/business/articles/2019-08-28/asian-markets-mixed-after-wall-street-slide

*Banks, Retailers Power US Stocks Higher After Wobbly Start*
Stocks overcame an early stumble and closed broadly higher Wednesday as the market more than made up its losses from a day earlier.
By Associated Press, Wire Service Content Aug. 28, 2019, at 5:19 p.m. 

By ALEX VEIGA, AP Business Writer

Stocks overcame an early stumble and closed broadly higher Wednesday as the market more than made up its losses from a day earlier.

Retailers, health care and industrial companies notched solid gains. Financial and energy stocks also helped power the rally.

The two sectors have taken the heaviest losses this month as fear that the U.S. trade war with China is hampering global economic growth roiled markets.

"Markets are trading higher as investors await news on the China trade front," said Cayman Wills, global head of equities at J.P. Morgan Private Bank. "It's just the absence of bad news that's letting markets trade higher."

Evidence of investor anxiety could still be found in the bond market, as traders seeking safety snapped up U.S. government bonds. The trend continued to drive long-term bond yields further below short-term ones. The so-called inversion of the U.S. yield curve is a rare phenomenon that has correctly predicted previous recessions.

The yield in the 10-year Treasury fell below that of the two-year Treasury on Tuesday and remained lower Wednesday. The 10-year yield slid to 1.47%, down from 1.49% late Tuesday. The two-year dropped to 1.50% from 1.52%.

"You're seeing investors hedge their bets, but also take advantage of the pockets of opportunity in sectors that have been hurt by the 10-year yield coming down," said Quincy Krosby, chief market strategist at Prudential Financial.

The S&P 500 rose 18.78 points, or 0.7%, to 2,887.94. The Dow Jones Industrial Average climbed 258.20 points, or 1%, to 26,036.10. The Nasdaq recovered from an early slide, gaining 29.94 points, or 0.4%, to 7,856.88.

Investors favored smaller company stocks a day after they fell sharply. The Russell 2000 index rebounded 16.67 points, or 1.1%, to 1,472.71.

The market is on track to end the week with a gain after having declined the past four weeks in a row. Still, with two trading days left in August, the major indexes are down more than 3%. If those losses hold, August would be the second monthly drop for the market this year after May.

Uncertainty over the U.S.-China trade conflict and it impact on corporate profits has rattled investors this month. Investors' anxiety has been particularly visible in the demand spike for U.S. government bonds.

When the U.S. yield curve inverted earlier this month for the first time since 2007, it led to a broad market sell-off. This week, investors' reaction has been more muted.

That could be because more traders are factoring in other variables that may be skewing the demand for U.S. bonds that's pulling yields so low. For example, many other countries' long-term bonds now carry negative yields, making U.S. Treasurys more attractive to overseas investors.

"They're coming into the United States and pushing yields down," Krosby said.

This means market watchers trying to gauge the likelihood of a recession should be focusing more on what employment, manufacturing and other key economic data show in coming months, she added.

Recent economic reports have been mixed. The overall economy, as measured by gross domestic product, slowed to an annual growth rate of 2.1% in the April-June quarter from 3.1% in the first quarter. An updated snapshot is due out Friday.

While an inverted yield curve has preceded every recession in the U.S, it's not a signal that a recession is imminent. It's taken anywhere from 14 to 34 months for a recession to begin after past inversions in the yield curve. And in that span of time, the average return for the market has been 15%, said Wills.

"So, if you take your chips off the table now, you could be potentially walking away some great returns," she said, adding that her firm is not calling yet for a recession.

The biggest source of uncertainty for the market and economy is the trade showdown between Washington and Beijing.

U.S. and Chinese trade negotiators are due to meet next month in Washington, but neither side has given any indication of offering concessions to break a deadlock. A round of talks last month in Shanghai ended with no sign of progress.

Investors also pored over a mixed batch of corporate earnings reports and outlooks Wednesday.

Tiffany & Co. gained 3% after the luxury jeweler's second quarter results beat analysts' projections and the company reaffirmed its full-year forecast.

Hewlett Packard Enterprise climbed 3.4% after the information technology products and services provider reported earnings that easily beat analysts' forecasts.

Autodesk slid 6.7% after the software company slashed its full-year forecasts, while Movado Group sank 15% after the watchmaker's earnings and revenue fell short of Wall Street's expectations.

European markets closed broadly lower after British Prime Minister Boris Johnson moved to suspend Parliament, which would hamper lawmakers' efforts to stop a no-deal departure from the European Union in October.

Benchmark crude oil rose 85 cents to settle at $55.78 a barrel after the government reported a higher than expected drawdown in crude inventories. Brent crude oil, the international standard, rose 98 cents to close at $60.49 a barrel.

Wholesale gasoline rose 3 cents to $1.68 per gallon. Heating oil climbed 4 cents to $1.85 per gallon. Natural gas gained 5 cents to $2.25 per 1,000 cubic feet.

Gold slipped $3.20 to $1,537.80 per ounce. Silver rose 16 cents to $18.30 per ounce and copper added a penny to $2.55 per pound.

The dollar rose to 106.03 Japanese yen from 105.78 yen on Tuesday. The euro weakened to $1.1079 from $1.1093.


----------



## bigdog

Stocks finished with broad gains on Wall Street Thursday, driving the Dow Jones Industrial Average more than 300 points higher.

The buying spree gave the market its second straight gain after a wobbly start to the week. The S&P 500 is now on track for its first weekly gain in five weeks.

The rally was spurred by fresh hope among investors that new talks between the U.S. and China set for September can lead to progress in the nations' ongoing trade war.

The S&P 500 rose 36.64 points, or 1.3%, to 2,924.58. The Dow climbed 326.15 points, or 1.3%, to 26,362.25. The Nasdaq gained 116.51 points, or 1.5%, to 7,973.39.

According to the latest SPI futures, the ASX 200 index is poised to open the day 47 points or 0.7% higher this morning.










https://www.usnews.com/news/busines...asian-markets-sink-after-wall-street-recovery

*Dow Surges 326 Points on Hopes for US-China Trade Talks*
Stocks finished with broad gains on Wall Street Thursday, driving the Dow Jones Industrial Average more than 300 points higher.
By Associated Press, Wire Service Content Aug. 29, 2019, at 5:04 p.m.

By ALEX VEIGA, AP Business Writer

Stocks finished with broad gains on Wall Street Thursday, driving the Dow Jones Industrial Average more than 300 points higher.

The buying spree gave the market its second straight gain after a wobbly start to the week. The S&P 500 is now on track for its first weekly gain in five weeks.

The rally was spurred by fresh hope among investors that new talks between the U.S. and China set for September can lead to progress in the nations' ongoing trade war.

"Investors are hoping that some sort of renewed discussions could lead to a genuine truce," said Sam Stovall, chief investment strategist at CFRA. "All the market is trading on today is optimism, not on reality."

The S&P 500 rose 36.64 points, or 1.3%, to 2,924.58. The Dow climbed 326.15 points, or 1.3%, to 26,362.25. The Nasdaq gained 116.51 points, or 1.5%, to 7,973.39.

Investors favored smaller company stocks for the second straight day. The Russell 2000 index added 24.01 points, or 1.6%, to 1,496.72.

Major stock indexes in Europe also closed broadly higher.

While the major indexes have stemmed some of their losses from earlier this month, they remain down about 2% for the month with one trading day left in August. If those losses hold, August would be the second monthly drop for the market this year after May.

Uncertainty over the costly and long-running trade conflict fueled a wave of market volatility through much of August as traders worried that it could knock the global economy into a recession and hurt corporate profits.

But Thursday brought some tendrils of optimism for traders. A published report noted that China's commerce ministry said it is discussing the next round of in-person trade negotiations with the U.S. to be held next month.

In an interview with Bloomberg, Treasury Secretary Steven Mnuchin said talks with China are ongoing and are expected to continue in Washington, though he did not specify when.

Trade negotiators are due to meet in September for new negotiations, though there has been no sign of progress in recent days since an escalation by both sides earlier this month.

The glimmer of hope gave investors reason to shift some of the money they've been plowing into the safety of U.S. government bonds back to stocks.

Even so, long-term bond yields remained below short-term ones, a so-called inversion in the U.S. yield curve that has correctly predicted previous recessions.

The yield on the 10-year Treasury rose to 1.50% from 1.47% late Wednesday. The 2-year Treasury yield rose to 1.53% from 1.49% the day before. The yield for the 10-year Treasury has been flat or below that of the 2-year this week.

That's fueled fears that the economy could be headed for a recession. Still, while an inverted yield curve has preceded every U.S. recession, it is not a signal that one is imminent. It has taken 14 to 34 months for past recessions to begin following a yield curve inversion. And the stock market has continued to climb in those months or years before a recession.

"The global economy is slowing, and the question is whether trade will tip that into a global recession or whether or not it will just be a garden-variety slowdown," said Jason Katz, senior portfolio manager at UBS Wealth Management USA.

Last week, the trade conflict escalated again with both sides threatening new tariffs on each other's goods, triggering a sharp sell-off in global markets.

Some of the Trump administration's additional tariffs on Chinese products take effect Sunday and others on Dec. 15. In addition, higher tariffs on a separate group of Chinese products are to take effect Oct. 1.

A mixed batch of new economic data didn't dampen Thursday's market rally.

The government reported that gross domestic product, the broadest gauge of economic health, advanced at a moderate 2% annual rate in the April-June quarter, down from a 3.1% gain in the first quarter. The figure was lower than the government's initial estimate a month ago of 2.1% growth.

And business investment, which has weakened in the face of the Trump administration's trade wars, was revised lower and subtracted from growth in the April-June period.

At the same time, consumer spending shot up to an annual rate of 4.7% in the second quarter, the best showing since the final quarter of 2014. That helped put investors in a buying mood.

"While GDP was in line or slightly lower, the consumer piece of it, which accounts for two-thirds of our economy, was really strong and that's one of the reasons behind the rally," Katz said.

Technology companies accounted for a big slice of Thursday's gains. Microsoft rose 1.9% and Apple added 1.7%. Financial, industrials and communication services stocks also were big winners. JPMorgan climbed 2.3%, American Airlines Group gained 3.9% and Facebook rose 2.1%.

Dollar General led all stocks in the S&P 500 after the discount retailer reported quarterly results that were better than analysts were expecting. Its shares vaulted 10.7%. Rival Dollar Tree gave up an early gain, sliding 1.9%.

Walmart gained 1.2%, Nordstrom rose 2.8% and Amazon added 1.3%.

Other retailers didn't fare so well. Best Buy slumped 8%, one of the biggest decliners in the S&P 500, after the consumer electronics chain reported strong quarterly profit that was overshadowed by disappointing revenue growth. The company lowered its revenue outlook for the year, citing the expected impact of U.S. tariffs on Chinese imports.

Abercrombie & Fitch slid 15.1% after the teen clothing retailer lowered its full-year sales forecast.

Crude oil rose 93 cents to settle at $56.71 a barrel. Brent crude oil, the international standard, gained 59 cents to close at $61.08 a barrel. Wholesale gasoline was unchanged at $1.68 per gallon. Heating oil climbed 1 cent to $1.86 per gallon. Natural gas rose 5 cents to $2.30 per 1,000 cubic feet.

Gold fell $12.30 to $1,526.50 per ounce, silver dropped 15 cents to $18.17 per ounce and copper added 1 cent to $2.56 per pound.

The dollar rose to 106.62 Japanese yen from 106.03 yen on Wednesday. The euro weakened to $1.1052 from $1.1079.


----------



## bigdog

Major U.S. stock indexes ended little changed Friday after a listless day of trading ahead of the Labor Day holiday weekend capped a solid week of gains for the market.

A late-afternoon flurry of buying gave the S&P 500 its third straight gain. The benchmark index also snapped a string of four consecutive weekly losses. Even so, the market closed out August with its second monthly decline this year, after May.

Financial, industrial and health care stocks were among the big winners. Those sectors outweighed losses in consumer goods makers and communication services stocks. Shares in companies that rely on consumer spending also fell.

The stock indexes wavered between small gains and losses through much of the day, with trading volumes lighter than usual.

The S&P 500 edged up 1.88 points, or 0.1%, to 2,926.46. The Dow Jones Industrial Average rose 41.03 points, or 0.2%, to 26,403.28. The Nasdaq gave up an early gain, sliding 10.51 points, or 0.1%, to7,962.88.

U.S. markets will be closed Monday for Labor Day.










DOW versus AORD 12 month chart





https://www.usnews.com/news/busines.../asian-stocks-rebound-on-us-china-trade-hopes

*US Stock Indexes End Mixed to Close Out a Volatile Month*
Major U.S. stock indexes ended little changed Friday after a listless day of trading ahead of the Labor Day holiday weekend capped a solid week of gains for the market.
By Associated Press, Wire Service Content Aug. 30, 2019, at 5:17 p.m

By ALEX VEIGA, AP Business Writer

Major U.S. stock indexes ended little changed Friday after a listless day of trading ahead of the Labor Day holiday weekend capped a solid week of gains for the market.

A late-afternoon flurry of buying gave the S&P 500 its third straight gain. The benchmark index also snapped a string of four consecutive weekly losses. Even so, the market closed out August with its second monthly decline this year, after May.

Financial, industrial and health care stocks were among the big winners. Those sectors outweighed losses in consumer goods makers and communication services stocks. Shares in companies that rely on consumer spending also fell.

The stock indexes wavered between small gains and losses through much of the day, with trading volumes lighter than usual.

"Going into a holiday weekend you just have three days here where you're not going to be able to reposition, so people are probably taking some profits and squaring their books ahead of the weekend," said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

The S&P 500 edged up 1.88 points, or 0.1%, to 2,926.46. The Dow Jones Industrial Average rose 41.03 points, or 0.2%, to 26,403.28. The Nasdaq gave up an early gain, sliding 10.51 points, or 0.1%, to7,962.88. The Russell 2000 index of smaller company stocks dropped 1.88 points, or 0.1%, to 1,494.84.

The major indexes stemmed their August slide this week, but still ended the month with losses. The Dow dropped 1.7%, the S&P 500 lost 1.8% and the Nasdaq gave up 2.6%. The Russell took the heaviest losses for the month, falling 5.1%.

Trading turned volatile in August as investors worried that the escalating trade war between the U.S. and China and a slowing global economy could tip the U.S. into a recession. The bond market seemingly confirmed these fears when long-term bond yields fell below short-term ones, a so-called inversion in the U.S. yield curve that has correctly predicted previous recessions.

"We found the limits of how far both the U.S. and the Chinese side can push the trade issue until it actually starts to manifest itself in markets," Samana said. "And where you probably saw the bulk of that reaction is in the fixed-income market. That's why you saw long-term yields basically collapse."

Bond prices initially fell Friday, pushing yields higher, but then lost momentum. That pushed long-term bond yields further below short-term ones. The yield on the 10-year Treasury fell to 1.50% from 1.51% late Thursday. The 2-year Treasury yield dropped to 1.51% from 1.55% the day before.

Washington and Beijing are deadlocked in talks over U.S. complaints about China's trade surplus and industrial plans, which its trading partners say are based on stealing or pressuring companies to hand over technology.

Last week, the trade conflict escalated again with both sides threatening new tariffs on each other's goods, triggering a sharp sell-off in global markets.

Some of the Trump administration's additional tariffs on Chinese products take effect Sunday and others on Dec. 15. In addition, higher tariffs on a separate group of Chinese products are to take effect Oct. 1.

Still, investors were encouraged by a Chinese government statement Thursday that its penalties on U.S. products are adequate. That suggested Beijing might be pausing in the tit-for-tat cycle of tariff increases that has raised fears the global economy might tip into recession.

Negotiators meet next month in Washington after the latest round of talks in July in Shanghai produced no sign of progress.

Investors also weighed a mixed batch of corporate earnings reports Friday.

Campbell Soup rose 3.9% and Big Lots added 3.4%. Both companies reported quarterly profits that easily beat analysts' forecasts. Ulta Beauty plunged 29.6%, it's biggest drop ever, after the company reported weak results and cut its estimates.

Benchmark crude oil fell $1.61 to settle at $55.10 a barrel. Brent crude oil, the international standard, fell 65 cents to close at $60.43 a barrel. Wholesale gasoline fell 7 cents to $1.61 per gallon. Heating oil declined 3 cents to $1.83 per gallon. Natural gas fell 1 cent to $2.29 per 1,000 cubic feet.

Gold fell $7.40 to $1519.10 per ounce, silver rose 2 cents to $18.19 per ounce and copper fell 3 cents to $2.53 per pound.

The dollar fell to 106.25 Japanese yen from 106.62 yen on Thursday. The euro weakened to $1.0978 from $1.1052.

U.S. markets will be closed Monday for Labor Day.

920


----------



## bigdog

According to the latest SPI futures, the ASX 200 index is poised to open the day 5 points or 0.1% lower this morning.


----------



## bigdog

European stock markets drifted higher Monday while Asia was mixed after the U.S. and China escalated their war over trade and technology with new tariff increases.

U.S. markets were closed for the Labor Day holiday, draining some of the energy from global trading. Benchmarks in London, Paris and Shanghai advanced. Tokyo and Hong Kong declined.

Markets reacted less strongly to the weekend tariff hikes on billions of dollars of goods than to previous increases. Investors are hoping for progress in talks this month, but analysts warn the fight over trade and technology is unlikely to be quickly resolved.

According to the latest SPI futures, the ASX 200 index is poised to open the day 2 points lower this morning.

U.S. markets were closed Monday for Labor Day.














https://www.usnews.com/news/busines...an-stocks-mixed-after-us-chinese-tariff-hikes

*Global Stocks Mixed After US and China Increase Tariffs*
European stocks up, Asia mixed after US, China step up trade war with new tariff hikes.
By Associated Press, Wire Service Content Sept. 2, 2019, at 11:52 a.m.

By JOE McDONALD and DAVID McHUGH, AP Business Writers

FRANKFURT, Germany (AP) — European stock markets drifted higher Monday while Asia was mixed after the U.S. and China escalated their war over trade and technology with new tariff increases.

U.S. markets were closed for the Labor Day holiday, draining some of the energy from global trading. Benchmarks in London, Paris and Shanghai advanced. Tokyo and Hong Kong declined.

Markets reacted less strongly to the weekend tariff hikes on billions of dollars of goods than to previous increases. Investors are hoping for progress in talks this month, but analysts warn the fight over trade and technology is unlikely to be quickly resolved.

"The short-lived truce will probably provide limited relief," said Zhu Huani of Mizuho Bank in a report. "Businesses have become increasingly uncertain about future prospects, evidenced by the pullback in business investment amidst growing concerns on growth."

The broad Europe STOXX 600 rose 0.3 percent to 380.55, London's FTSE 100 rose 1.11% to 7,286.86 and France's CAC 40 added 0.2% to 5,487.66. Germany's DAX was 0.1% higher at 11,949.22.

In Asia, the Shanghai Composite Index gained 1.3% to 2,924.11 while Tokyo's Nikkei 225 shed 0.4% to 20,620.19. Hong Kong's Hang Seng lost 0.4% to 25,626.55. Seoul's Kospi ended 1 point higher at 1,969.19 and Sydney's S&P-ASX 200 retreated 0.4% to 6,579.40. New Zealand and Taiwan gained while Southeast Asia markets retreated.

On Sunday, the United States started charging 15% tax on about $112 billion of Chinese imports. China responded by charging taxes of 10% and 5% on a list of American goods. Negotiators are due to meet this month in Washington but neither side has given any sign it might offer concessions.

The U.S. is pressing China to narrow its trade surplus and roll back plans for government-led creation of companies that can compete globally in robotics and other industries. China's trading partners say those violate its free-trade obligations and are based on stealing or pressuring companies to hand over technology.

On Wall Street, stocks ended little changed Friday after a listless day of trading ahead of a holiday weekend. The market closed out August with its second monthly decline this year, after May. The S&P 500 index rose 0.1% to 2,926.46. The Dow Jones Industrial Average gained 0.2% to 26,403.28. The Nasdaq slid 0.1% to 7,962.88.

Two surveys of Chinese factory activity showed demand is weak amid the trade war. The business magazine Caixin said its monthly purchasing managers' index showed activity edging up, but a gauge of new orders fell to its lowest level this year. A separate survey by an industry group, the China Federation of Logistics & Purchasing, showed activity declining. It said demand was "relatively weak."

EUROPE INDUSTRY: In the eurozone, the August purchasing manager's index in manufacturing came in at 47.0, indicating continuing contraction. Data compiler IHS Markit said production and new orders continue to fall as confidence hits the lowest level since November 2012. Europe's industrial slump, a byproduct of slowing global trade and the U.S.-China conflict, is one reason the European Central Bank is expected to announce new stimulus measures at its Sept. 12 meeting.

ENERGY: Benchmark U.S. crude lost 31 cents to $54.79 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, used to price international oils, retreated 67 cents to $57.79 per barrel in London.

CURRENCY: The dollar fell 0.03 percent to 106.26 yen. The euro declined to $1.0967.


----------



## bigdog

Technology companies drove a broad slide in U.S. stocks Tuesday as disappointing economic data and the latest escalation in the trade war between the U.S. and China put investors in a selling mood.

The Dow Jones Industrial Average slumped more than 280 points as the market gave back some of its gains from last week. The losses ended a three-day winning streak for the S&P 500.

The sell-off got going as markets opened after a long weekend to expanded tariffs between Washington and Beijing, and little sign that talks would restart soon. New economic data showing that U.S. factory activity shrank in August for the first time in three years helped drive the selling.

The S&P 500 dropped 20.19 points, or 0.7%, to 2,906.27. The Dow lost 285.26 points, or 1.1%, to 26,118.02. The average was briefly down 425 points.

The Nasdaq fell 88.72 points, or 1.1%, to 7,874.16.

According to the latest SPI futures, the ASX 200 index is poised to open the day 38 points or 0.6% lower this morning.









https://www.usnews.com/news/busines...-lower-after-us-china-trade-jitters-resurface

*Stocks Slump Broadly as Expanded US-China Tariffs Kick In*
Technology companies drove a broad slide in U.S. stocks Tuesday as disappointing economic data and the latest escalation in the trade war between the U.S. and China put investors in a selling mood.
By Associated Press, Wire Service Content Sept. 3, 2019, at 5:08 p.m.

By ALEX VEIGA, AP Business Writer

Technology companies drove a broad slide in U.S. stocks Tuesday as disappointing economic data and the latest escalation in the trade war between the U.S. and China put investors in a selling mood.

The Dow Jones Industrial Average slumped more than 280 points as the market gave back some of its gains from last week. The losses ended a three-day winning streak for the S&P 500.

The sell-off got going as markets opened after a long weekend to expanded tariffs between Washington and Beijing, and little sign that talks would restart soon. New economic data showing that U.S. factory activity shrank in August for the first time in three years helped drive the selling.

"While we've known that manufacturing was slowing, and in a slump, this was worse than expected, which is rekindling fears of recession," said Kate Warne, chief investment strategist at Edward Jones. "While we don't think recession is on the horizon, certainly it's one more sign of slower economic growth."

Investors fled to safer holdings, including utility stocks, bonds and gold. Oil prices fell.

The S&P 500 dropped 20.19 points, or 0.7%, to 2,906.27. The Dow lost 285.26 points, or 1.1%, to 26,118.02. The average was briefly down 425 points.

The Nasdaq fell 88.72 points, or 1.1%, to 7,874.16. Smaller company stocks also fell sharply, sending the Russell 2000 index down 22.56 points, or 1.5%, to 1,472.28.

The worsening trade situation between the world's two largest economies dragged the benchmark S&P 500 to its second monthly loss of the year in August and dented investors' confidence in global economic growth.

On Sunday, the U.S. started charging a 15% tariff on about $112 billion of Chinese products. China responded by charging tariffs of 10% and 5% on a list of American goods.

The latest escalation in the lingering trade conflict had been expected since early August when the U.S. announced plans for the new tariff measures, prompting China to retaliate.

Still, stocks fell as investors turned pessimistic that any resolution will be forthcoming in the near future, even as negotiators from the U.S. and China are supposed to meet in September to continue trade talks.

"Today it appears that the two sides aren't even able to agree on a date, and that's making investors feel more skeptical that even if there's a meeting there won't be any progress," Warne said.

Technology companies accounted for much of the decline. The sector is particularly sensitive to swings in trade relations with China and tariffs have the potential to drive up costs for gadget and chipmakers. Apple, which relies on China as a key part of its supply chain, fell 1.5%, while chipmakers Nvidia dropped 2% and Qualcomm slid 3.4%.

Industrial stocks were among the biggest decliners. Caterpillar, which is seen as an industry bellwether when it comes to the impact of trade, fell 1.7%.

Oil prices fell, dragging down energy stocks. Chevron slid 1.2%.

Benchmark crude oil fell $1.16 to settle at $53.94 a barrel. Brent crude oil, the international standard, slid 40 cents to close at $58.26 a barrel.

Utilities held up well, as did makers of consumer products such as Procter & Gamble, which added 0.9%.

The price of gold rose $26.80 to $1,545.90 per ounce. Gold producer Newmont Goldcorp also gained 1.3%.

Bond prices rose, sending yields lower. The yield on the 10-year Treasury fell to 1.47% from 1.50% late Friday. The lower bond yields weighed on banks. Citigroup lost 1.4%.

The surge in demand for U.S. government bonds came as new U.S. manufacturing data stoked fears of an economic slowdown.

The Institute for Supply Management, an association of purchasing managers, said Tuesday that its manufacturing index slid to 49.1 last month, from 51.2 in July. Any reading below 50 signals a contraction. That's the lowest for the index since January 2016.

"The trend is not in the right direction and it was worse than expected," Warne said.

A global softening in demand, worsened by the increasingly high-risk trade war between the U.S. and China, appears to be hurting American manufacturers. More than half of the public comments from companies surveyed by ISM pointed to economic uncertainty as a drag on their businesses.

Businesses are increasingly wary of investing and expanding because of uncertainty surrounding the U.S.-China trade dispute.

Investors have been worried that the trade war and a slowing global economy could tip the U.S. into a recession. The bond market has been reflecting these fears, with long-term bond yields falling below short-term ones, a so-called inversion in the U.S. yield curve that has correctly predicted previous recessions.

The yield on the 10-year Treasury has been hovering near or below that of the 2-year Treasury yield, which on Tuesday dropped to 1.46% from 1.49% late Friday.

Traders bid up shares in Conn's 18.3% after the furniture and electronics retailer blew past Wall Street's second quarter profit forecasts. The company also topped analysts' revenue expectations.

Boeing dropped 2.7% after United Airlines and American Airlines took steps to delay until December the expected return of Boeing 737 Max jets.

In other commodities trading Tuesday, wholesale gasoline fell 6 cents to $1.47 per gallon. Heating oil declined 3 cents to $1.80 per gallon. Natural gas rose 7 cents to $2.36 per 1,000 cubic feet.

Silver rose 89 cents to $19.08 per ounce and copper fell 2 cents to $2.51 per pound.

The dollar fell to 106.03 Japanese yen from 106.19 yen on Monday. The euro weakened to $1.0966 from $1.0970.

In overseas trading, European stocks declined amid worries that the U.K. faces a potentially chaotic exit from the European Union. Prime Minister Boris Johnson's office said he would call an early election if his opponents pass legislation that would block his plans to leave the European Union by an Oct. 31 deadline.


----------



## bigdog

Technology companies led stocks broadly higher on Wall Street Wednesday, erasing the S&P 500's losses from a day earlier.

Traders pivoted to riskier holdings as encouraging developments overseas helped alleviate investors' anxiety over the global economy. Lawmakers in Britain were seeking a less chaotic exit from the European Union and political tensions in Hong Kong eased.

The rally reversed Tuesday's losses, when disappointing U.S. manufacturing data and an escalation in the ongoing trade war between the U.S. and China led to a sell-off that ended a three-day winning streak for the market.

The S&P 500 gained 31.51 points, or 1.1%, to 2,937.78. The Dow Jones Industrial Average 237.45 points, or 0.9%, to 26,355.47.

The Nasdaq, which is heavily weighted with technology stocks, climbed 102.72 points, or 1.3%, to 7,976.88.

According to the latest SPI futures, the ASX 200 index is poised to open the day 19 points or 0.3% higher this morning










https://www.usnews.com/news/busines...ise-after-disappointing-us-manufacturing-data

*Stocks Notch Gains, Erase Prior Day's Losses for S&P 500*
Technology companies led stocks broadly higher on Wall Street Wednesday, erasing the S&P 500's losses from a day earlier.
By Associated Press, Wire Service Content Sept. 4, 2019, at 5:22 p.m.

By ALEX VEIGA, AP Business Writer

Technology companies led stocks broadly higher on Wall Street Wednesday, erasing the S&P 500's losses from a day earlier.

Traders pivoted to riskier holdings as encouraging developments overseas helped alleviate investors' anxiety over the global economy. Lawmakers in Britain were seeking a less chaotic exit from the European Union and political tensions in Hong Kong eased.

The rally reversed Tuesday's losses, when disappointing U.S. manufacturing data and an escalation in the ongoing trade war between the U.S. and China led to a sell-off that ended a three-day winning streak for the market.

"It was maybe a little bit of an overreaction yesterday to the manufacturing numbers, so that's why we're having a bounce back today," said Karyn Cavanaugh, senior markets strategist at Voya Investment Management. "We had some good news on Hong Kong today, but just in general investors have to get used to the volatility."

The S&P 500 gained 31.51 points, or 1.1%, to 2,937.78. The Dow Jones Industrial Average 237.45 points, or 0.9%, to 26,355.47.

The Nasdaq, which is heavily weighted with technology stocks, climbed 102.72 points, or 1.3%, to 7,976.88. The Russell 2000 index of smaller company stocks picked up 12.47 points, or 0.8%, to 1,484.76.

Even after finishing a turbulent August with a monthly loss for only the second time this year, the benchmark S&P 500 index is down less than 3% from its all-time high set in July.

Investors have been worried that the trade war and a slowing global economy could tip the U.S. into a recession. But traders set aside those concerns Wednesday, focusing instead on geopolitical developments.

In Hong Kong, the government withdrew an extradition bill that had set off three months of protests in the region. That spurred Asian stock markets to finish broadly higher. The Hang Seng in Hong Kong surged 3.9%, its best day since November. The announcement of the withdrawal came after markets closed but reports that it was in the works sent stocks higher there during regular trading hours.

Stocks in Europe also finished higher as traders welcomed a big step taken by Britain's parliament toward passing a law that could stop Prime Minister Boris Johnson's plan to pull out of the EU on Oct. 31 with or without a withdrawal agreement. Leaving the EU without a deal that covers trade and other issues could result in economic chaos for Britain and complicate trade with member nations in the EU.

Even as the developments in Britain and Hong Kong gave U.S. stocks a lift, investors should keep in mind Tuesday's weak manufacturing activity report as yet another harbinger of an economic slowdown.

"Without any sort of catalyst to help turn sentiment around we anticipate that continued weakness in the manufacturing sector is likely to bleed over into the consumer sector, which can then drag down the economy further," said Peter Donisanu, investment strategy analyst at Wells Fargo Investment Institute.

The lingering trade conflict between Washington and Beijing has roiled markets this summer. The economic uncertainty has also become a drag on companies.

On Sunday, the conflict escalated as the U.S. imposed a 15% tariff on about $112 billion of Chinese products. China responded by charging tariffs of 10% and 5% on a list of American goods.

The escalation had been expected since early August when the U.S. announced plans for the new tariff measures, prompting China to retaliate.

Negotiators from the U.S. and China are supposed to meet in September to continue trade talks.

While the U.S. bond market reflected investors' fears of a recession in August, there were few such signs Wednesday.

Long-term bond yields fell below short-term ones in August, a so-called inversion in the U.S. yield curve that has frequently predicted previous recessions. But the long-term bond yields moved back above short-term ones on Wednesday.

The yield on the 10-year Treasury note rose to 1.47% from 1.46% late Tuesday. The yield on the 2-year Treasury note fell to 1.44% from 1.46%.

Chipmakers, which have been at the mercy of trade war volatility, did much of the heavy lifting for the technology sector Wednesday. Intel rose 4.1% and Nvidia rose 2.8%. Apple, which relies on China as a key part of its supply chain, rose 1.7%.

Communication services, industrial and financial stocks also notched solid gains. Activision Blizzard climbed 4.8%, Honeywell gained 2.2% and Citigroup added 1.4%.

Traders moved away from safe-play holdings, such as utilities and real estate, which lagged the market, as did the health care sector.

Investors hammered Tyson Foods' shares after the meat producer slashed its 2019 profit forecast because of commodity costs and a fire at a beef processing plant. The company and its competitors are all facing higher costs for animal feed such as corn because flooding delayed the planting season. The stock slid 7.8%.

Tapestry climbed 5.1% after CEO Victor Luis resigned from the upscale handbag maker less than a month after it warned investors about a profit slump. The company has been struggling with its Kate Spade brand, which it bought in 2017. It also owns the Coach brand.

Benchmark crude oil rose $2.32 to settle at $56.26 a barrel. Brent crude oil, the international standard, gained $2.44 to close at $60.70 a barrel. Wholesale gasoline rose 6 cents to $1.53 per gallon. Heating oil climbed 8 cents to $1.88 per gallon. Natural gas rose 8 cents to $2.45 per 1,000 cubic feet.

Gold rose $4.40 to $1,550.30 per ounce, silver rose 31 cents to $19.39 per ounce and copper rose 7 cents to $2.58 per pound.

The dollar rose to 106.41 Japanese yen from 106.03 yen on Tuesday. The euro strengthened to $1.1032 from $1.0966.


----------



## bigdog

Investors powered U.S. stocks to broad gains Thursday, cheering plans for another round of trade negotiations between Washington and Beijing, and drawing encouragement from a batch of positive economic data.

The Dow Jones Industrial Average surged nearly 400 points, bond yields jumped and the price of gold fell as investors regained a bigger appetite for riskier holdings.

Markets have been rattled this summer as the longstanding trade war between the U.S. and China escalated. Past rounds of negotiations have failed to yield progress. Even so, news Thursday that envoys from Washington and Beijing plan to hold talks next month elicited fresh optimism on Wall Street that the world's largest economies may yet find a way to resolve their costly trade war.

The S&P 500 gained 38.22 points, or 1.3%, to 2,976. The benchmark index is now 1.7% shy of its most recent all-time high set in late July.

The Dow rose 372.68 points, or 1.4%, to 26,728.15. The average was briefly up by 480 points.

The Nasdaq climbed 139.95 points, or 1.8%, to 8,116.83.

According to the latest SPI futures, the ASX 200 index is expected to open the day 10 points or 0.15% higher following a very positive night of trade on Wall Street










https://www.usnews.com/news/busines...res-rise-amid-optimism-about-hong-kong-brexit

*Plans for New US-China Trade Talks Boost US Stock Indexes*
Investors powered U.S. stocks to broad gains Thursday, cheering plans for another round of trade negotiations between Washington and Beijing, and drawing encouragement from a batch of positive economic data.
By Associated Press, Wire Service Content Sept. 5, 2019, at 4:50 p.m. 

By ALEX VEIGA, AP Business Writer

Investors powered U.S. stocks to broad gains Thursday, cheering plans for another round of trade negotiations between Washington and Beijing, and drawing encouragement from a batch of positive economic data.

The Dow Jones Industrial Average surged nearly 400 points, bond yields jumped and the price of gold fell as investors regained a bigger appetite for riskier holdings.

Markets have been rattled this summer as the longstanding trade war between the U.S. and China escalated. Past rounds of negotiations have failed to yield progress. Even so, news Thursday that envoys from Washington and Beijing plan to hold talks next month elicited fresh optimism on Wall Street that the world's largest economies may yet find a way to resolve their costly trade war.

Investors have been worried that uncertainty over the conflict and the fallout from tariffs goods imposed by both sides will exacerbate a slowdown in global economic growth and hurt corporate profits.

Still, it's going to take more than news of planned talks to give the market more than a short-term boost after more than a year of trade angst-fueled market volatility, said Willie Delwiche, investment strategist at Baird.

"We've seen headlines on trade so many times," Delwiche said. "It's kind of hard to believe that this news of talks is going to be somehow different from previous news of talks and yield something meaningful in terms of a deal or some sort of progress."

The S&P 500 gained 38.22 points, or 1.3%, to 2,976. The benchmark index is now 1.7% shy of its most recent all-time high set in late July.

The Dow rose 372.68 points, or 1.4%, to 26,728.15. The average was briefly up by 480 points.

The Nasdaq climbed 139.95 points, or 1.8%, to 8,116.83. Traders also favored smaller company stocks. The Russell 2000 index picked up 25.99 points, or 1.8%, to 1,510.75.

Thursday's rally took its cue from overseas markets, which also reacted positively to the news that negotiators from the U.S. and China have agreed to meet in early October.
The meeting would be the latest attempt to find a resolution to a trade war that has rattled global financial markets and threatened economic growth.

There has been no sign of progress in the trade conflict since Presidents Donald Trump and Xi Jinping agreed in June to resume deadlocked negotiations about trade and technology.

Negotiations between the world's largest economies have been tenuous and the trade war has been escalating with expanded tariffs on each other's products.

The latest escalation kicked in Sunday, with the U.S. imposing 15% tariffs on $112 billion of Chinese imports. Washington is planning to hit another $160 billion on Dec. 15, a move that would extend penalties to almost everything the United States buys from China. Beijing responded by imposing duties of 10% and 5% on a range of American imports.

U.S. tariffs of 25% imposed previously on $250 billion of Chinese goods are due to rise to 30% on Oct. 1.

Stocks were also bolstered Thursday by positive economic data showing that companies are still hiring at a solid pace and that productivity rose at a healthy rate last quarter.

Payroll processor ADP reported that U.S. businesses added 195,000 jobs in August, well above economists' expectations. The private report frequently diverges from the government's own employment report, which is scheduled to be released Friday. Economists expect that report will show 160,000 jobs were added.

Meanwhile, the Labor Department reported that overall productivity rose 2.3% during the second quarter, also beating economists' growth forecasts.

The positive report gave already rising bond yields an additional push. The yield on the 10-year Treasury note rose to 1.57% from 1.46% late Wednesday, a big move.

"The combination of hopefulness from trade and slightly better than expected data revealed that a lot of people were maybe a little too dour in what they were expecting, at least in the near term," Delwiche said. "So, you've had this shift away from gold and away from bonds and into stocks."

Technology stocks led the gains for a second day in a row as investors again fed a bigger appetite for riskier holdings. Chipmakers, which are especially reliant on doing business with China, rose. Intel gained 2.4% and Nvidia climbed 6.5%.

Banks moved broadly higher as bond yields rose, which gives them more leverage to charge higher interest rates on loans and garner more profit. JPMorgan Chase added 2.3% and Bank of America gained 3%.

Consumer-focused companies also rose broadly. Nike, which stands to benefit if the trade war ends sooner rather than later, added 2.4%. Amazon rose 2.2%.

Investors also bid up shares in companies whose latest quarterly results beat Wall Street's forecasts.

Signet Jewelers surged 26.6%. The company, which operates Kay, Zales and Piercing Pagoda stores, also raised its own profit forecast for the year. G-III Apparel jumped 27.2% after the company, which owns DKNY and Wilson's Leather brands, cited gains from its wholesale business during the quarter.

Stocks in Europe finished broadly higher as political developments in Britain point to a less chaotic exit from the European Union.

Britain's Parliament has been pushing back against Prime Minister Boris Johnson and hope to make a deal with the EU before leaving on Oct. 31. Leaving the 28-member trading bloc without a deal could hurt Britain's economy.

In commodities trading, benchmark crude oil rose 4 cents to settle at $56.30 a barrel. Brent crude oil, the international standard, added 25 cents to close at $60.95 a barrel. Wholesale gasoline rose 2 cents to $1.55 per gallon. Heating oil climbed 1 cent to $1.89 per gallon. Natural gas fell 1 cent to $2.44 per 1,000 cubic feet.

Gold fell $34.90 to $1,515.40 per ounce, silver dropped 73 cents to $18.66 per ounce and copper rose 4 cents to $2.62 per pound.

The dollar rose to 106.95 Japanese yen from 106.41 yen on Wednesday. The euro strengthened to $1.1036 from $1.1032.


----------



## bigdog

Major U.S. stock indexes finished little changed Friday after a day of mostly quiet trading capped the S&P 500's second straight weekly gain.

The market shook off an early stumble thanks largely to gains in health care stocks, makers of consumer products and retailers. Technology, communications and utilities stocks fell, as did bond yields and gold prices.

The S&P 500 inched up 2.71 points, or 0.1%, to 2,978.71. The benchmark index gained 1.8% for the week.  The S&P 500 ended the week at its highest level in five weeks and just 1.6% below its record set on July 26.

The Dow Jones Industrial Average rose 69.31 points, or 0.3%, to 26,797.46. The Nasdaq wobbled for much of the day, ending with a loss of 13.75 points, or 0.2%, to 8,103.07.










DOW vs ALL ORDINARIES Chart





https://www.usnews.com/news/busines...se-on-optimism-over-more-us-china-trade-talks

*US Stocks' Mixed Finish Nudges S&P 500 to a 2nd Weekly Gain*
Major U.S. stock indexes finished little changed Friday after a day of mostly quiet trading capped the S&P 500's second straight weekly gain.
By Associated Press, Wire Service Content Sept. 6, 2019, at 4:55 p.m

By ALEX VEIGA, AP Business Writer

Major U.S. stock indexes finished little changed Friday after a day of mostly quiet trading capped the S&P 500's second straight weekly gain.

The market shook off an early stumble thanks largely to gains in health care stocks, makers of consumer products and retailers. Technology, communications and utilities stocks fell, as did bond yields and gold prices.

Facebook dropped 1.8% after New York's attorney general announced an antitrust investigation into the company.

Traders had a muted reaction to new data showing that U.S. employers added fewer than expected jobs in August. The report also indicated more people entered the workforce last month, wages rose more than expected and the unemployment rate remained near the lowest level in five decades.

The jobs report was the latest in a mixed batch of economic data that investors scrutinized this week in search of clues about how the economy is weathering the costly trade war between the U.S. and China. Their concern: tariffs that each side has imposed on billions of goods may be dampening global economic growth and threatening to nudge the United States into a recession.

Mixed economic data aside, investors have been encouraged this week by news that envoys from Washington and Beijing plan to begin another round of trade talks next month.

"It's been a pretty bullish week and I'm a bit surprised the market has gone as far as it has," said Randy Frederick, vice president of trading & derivatives at Charles Schwab. "I don't think the trade tariffs issue is going to get resolved any time soon, and I don't see that we're a whole lot further along right now than where we were a month ago, when the market was significantly lower than it is."

The S&P 500 inched up 2.71 points, or 0.1%, to 2,978.71. The benchmark index gained 1.8% for the week.

The Dow Jones Industrial Average rose 69.31 points, or 0.3%, to 26,797.46. The Nasdaq wobbled for much of the day, ending with a loss of 13.75 points, or 0.2%, to 8,103.07. The Russell 2000 index of smaller company stocks dropped 5.58 points, or 0.4%, to 1,505.17.

Markets have been turbulent in recent weeks as worries about the trade war have waxed and waned. Stocks sold off on Tuesday after expanded tariffs between Washington and Beijing kicked in and new data indicated that U.S. manufacturing contracted in August for the first time in three years.

But more encouraging economic reports on hiring by private companies and productivity, in addition to the planned resumption of trade negotiations, put investors in a buying mood that culminated in a strong market rally on Thursday. The S&P 500 ended the week at its highest level in five weeks and just 1.6% below its record set on July 26.

The market got a modest bounce Friday afternoon after Federal Reserve Chairman Jerome Powell said the central bank is not expecting a U.S. or global recession. In remarks at a conference in Switzerland, Powell noted that the Fed is monitoring a number of uncertainties, including trade conflicts, adding the Fed will "act as appropriate to sustain the expansion."

Economists said Friday's jobs report did little to change their forecasts for the Fed to cut interest rates at its meeting in two weeks. Treasury yields dipped following the report, and traders remain nearly certain that the Fed will cut short-term rates by a quarter of a percentage point.

It would be the second such cut since August, following nine increases since December 2015, as the central bank tries to cushion the blow on the economy from the U.S.-China trade war. U.S. manufacturing has already slid due to the tensions, and the worry is that businesses could pull back on their spending next.

The latest jobs data offered mixed signals about the economy.

Employers added 130,000 jobs last month, short of the 160,000 that economists expected and down from July's growth of 159,000. But average hourly earnings rose 3.2% from a year earlier, more than economists expected.

The report also showed that the average length of the work week inched up to 34.4 hours after dipping in July to 34.3 hours. The bounce is good news, because when employers cut back on employee hours it can signal a coming pullback on hiring.

"The work week ticked up, so you're not really concerned there's a start of an uptick in unemployment," said Tom Martin, senior portfolio manager with Globalt Investments. "That's pretty positive."

Major indexes in Europe finished higher Friday. Earlier in the day, China's central bank cut a key interest rate, which helped push Asian markets higher.

Benchmark crude oil rose 22 cents to settle at $56.52 a barrel. Brent crude oil, the international standard, added 59 cents to close at $61.54 a barrel. Wholesale gasoline rose 2 cents to $1.57 per gallon. Heating oil climbed 1 cent to $1.90 per gallon. Natural gas rose 6 cents to $2.50 per 1,000 cubic feet.

Gold fell $9.20 to $1,506.20 per ounce, silver fell 69 cents to $17.97 per ounce and copper was unchanged at $2.62 per pound.

The dollar fell to 106.89 Japanese yen from 106.95 yen on Thursday. The euro weakened to $1.1028 from $1.1036.

6174


----------



## bigdog

Major U.S. stock indexes ended mixed Monday as large companies gave up early gains and smaller companies closed broadly higher.

The S&P 500 ended virtually flat as losses in technology and health care stocks outweighed gains in financials and other sectors. The Russell 2000 index of smaller company stocks, which has lagged the S&P 500 this year, outpaced the rest of the market.

The S&P 500 inched 0.28 points lower, or less than 0.1%, to 2,978.43. The index, which has finished higher the past two weeks, is within 1.6% of its all-time high set in late July.

The Dow Jones Industrial Average rose 38.05 points, or 0.1%, to 26,835.51. The Nasdaq fell 15.64 points, or 0.2%, to 8,087.44. The Russell 2000 climbed 19.06 points, or 1.3%, to 1,524.23.

According to the latest SPI futures, the ASX 200 index is expected to open the day 7 points or 0.1% lower after another mixed night of trade on Wall Street.











https://www.usnews.com/news/busines...stly-rise-as-market-players-weigh-mix-of-data

*S&P 500 Finishes Flat; Smaller Company Stocks Notch Gains*
Major U.S. stock indexes ended mixed Monday as large companies gave up early gains and smaller closed broadly higher.
By Associated Press, Wire Service Content Sept. 9, 2019, at 5:09 p.m. 

By ALEX VEIGA, AP Business Writer

Major U.S. stock indexes ended mixed Monday as large companies gave up early gains and smaller companies closed broadly higher.

The S&P 500 ended virtually flat as losses in technology and health care stocks outweighed gains in financials and other sectors. The Russell 2000 index of smaller company stocks, which has lagged the S&P 500 this year, outpaced the rest of the market.

Investors are taking a shine to smaller-company stocks in hopes that they'll be better shielded from the fallout of the costly trade war between the U.S. and China than large multinationals.

"If you're making your product or service in the U.S. and selling it to U.S. customers, you're somewhat more insulated from the global trade volatility and the slower growth that's spawning from that globally, too," said Ben Phillips, chief investment officer at EventShares.

The S&P 500 inched 0.28 points lower, or less than 0.1%, to 2,978.43. The index, which has finished higher the past two weeks, is within 1.6% of its all-time high set in late July.

The Dow Jones Industrial Average rose 38.05 points, or 0.1%, to 26,835.51. The Nasdaq fell 15.64 points, or 0.2%, to 8,087.44. The Russell 2000 climbed 19.06 points, or 1.3%, to 1,524.23.

The broader market has bounced back the past two weeks following a bout of volatility brought on by the trade war as Washington and Beijing imposed new tariffs on more of each other's imported goods. Investors worry the escalation of tariffs may be dampening global economic growth and threatening to nudge the United States into a recession.

Traders are hoping for a deal between the world's two largest economies and were encouraged last week by news that talks will resume in October.

A mixed bag of economic data has also kept Wall Street focused on central banks and whether they will continue taking measures to shore up economic growth. On Friday, Federal Reserve Chairman Jerome Powell said the central bank doesn't expect a recession and will take necessary actions to maintain growth.

Economists expect the Fed to cut interest rates when it meets next week. Separately, the European Central Bank is expected to unveil new monetary stimulus measures on Thursday to help shore up the region's economy.

U.S. stock indexes appeared set to extend their gains from last week in early trading Monday, led by gains in banks and communications companies. But the momentum faded by midmorning and the major indexes veered between small gains and losses the rest of the day.

At the same time, the Russell 2000 continued to climb. It's 13% gain year-to-date is still far behind the 18.8% increase in the S&P 500. That's one reason why the smaller-company stocks are looking attractive right now.

"People are rotating out of the more expensive stuff, some of the things that are probably risky in a downturn, like tech, and going into some more traditional value," Phillips said.

Among the winning small-cap stocks Monday were video-game retailer GameStop, which jumped 10.4%, and prison operator GEO Group, which rose 2.6%.

Payment processors helped weigh down technology sector stocks. Visa slid 2.3%, Mastercard fell 2.8% and PayPal lost 4.2%. Drugmakers led the slide in health care stocks. Merck fell 3.6% and Abbott Laboratories dropped 2.1%.

Rising bond yields gave banks a boost. Lenders rely on higher yields to set more lucrative interest rates on loans. JPMorgan Chase rose 2.5% and Bank of America gained 3.3%.

The yield on the 10-year Treasury rose to 1.64% from 1.55% late Friday in a sign that investors remain confident that the economy will continue growing. They also shifted money out of safe-play sectors like utilities and makers of consumer products.

Energy stocks climbed as the price of U.S. crude oil rose 2.4%. Oilfield services company Schlumberger jumped 5.9% and Halliburton gained 4.5%.

Benchmark crude oil rose $1.33 to settle at $57.85 a barrel. Brent crude oil, the international standard, gained $1.05 to close at $62.59 a barrel.

AT&T rose 1.5% after activist investment manager Elliott Management, which has a $3.2 billion stake in the telecom company, sent a letter to AT&T's board, noting that its stock has badly lagged the broader market over the past 10 years and urged it to shed businesses and trim costs. AT&T said it will review the proposals.

Freddie Mac and Fannie Mae each soared 42.8% after an appeals court overturned a ruling that supported the government's practice of collecting most of the profits generated by the mortgage finance giants.

Last week, the Trump administration unveiled a plan for ending government control of Fannie Mae and Freddie Mac. The companies nearly collapsed in the financial crisis 11 years ago and were bailed out by the government.

In other commodities trading Monday, wholesale gasoline rose 1 cent to $1.58 per gallon. Heating oil climbed 3 cents to $1.93 per gallon. Natural gas rose 9 cents to $2.59 per 1,000 cubic feet.

Gold fell $4.00 to $1,502.20 per ounce, silver rose 5 cents to $18.02 per ounce and copper fell 1 cent to $2.61 per pound.

The dollar rose to 107.16 Japanese yen from 106.89 yen on Friday. The euro strengthened to $1.1052 from $1.1028.

Major stock indexes in Europe also ended mixed Monday as economic growth concerns and Britain's potentially chaotic exit from the European Union weigh on investors. Stocks in Asia finished broadly higher.


----------



## bigdog

Major U.S. stock indexes closed mostly higher Tuesday, erasing much of an early slide, as investors favored smaller, U.S.-focused companies for the second straight day.

Industrial, energy and health care stocks helped power the market higher. Banks also notched solid gains amid a broad pullback in demand for U.S. government bonds, which pushed yields higher. The yield on the 10-year Treasury note climbed to 1.73% from 1.62% late Monday, a big move.

Lenders rely on higher yields to set more lucrative interest rates on loans. Bank of America rose 2.5%, Goldman Sachs gained 1.7% and State Street vaulted 9%.

The S&P 500 index inched up 0.96 points, or less than 0.1%, to 2,979.39. The Dow Jones Industrial Average rose 73.92 points, or 0.3%, to 26,909.43. The average was briefly down 118 points.

The Nasdaq, which is heavily weighted with technology stocks, slid 3.28 points, or less than 0.1%, to 8,084.16.

According to the latest SPI futures, the ASX 200 index is expected to open the day 18 points or 0.3% higher this morning after a mildly positive night on Wall Street.










*US Stock Indexes End Mostly Higher After Late Buying Burst*
Major U.S. stock indexes closed mostly higher Tuesday, erasing much of an early slide, as investors favored smaller, U.S.-focused companies for the second straight day.
By Associated Press, Wire Service Content Sept. 10, 2019, at 5:12 p.m.

By ALEX VEIGA, AP Business Writer

Major U.S. stock indexes closed mostly higher Tuesday, erasing much of an early slide, as investors favored smaller, U.S.-focused companies for the second straight day.

Industrial, energy and health care stocks helped power the market higher. Banks also notched solid gains amid a broad pullback in demand for U.S. government bonds, which pushed yields higher. The yield on the 10-year Treasury note climbed to 1.73% from 1.62% late Monday, a big move.

Lenders rely on higher yields to set more lucrative interest rates on loans. Bank of America rose 2.5%, Goldman Sachs gained 1.7% and State Street vaulted 9%.

For the second day in a row, traders unloaded technology stocks and shares in companies that rely on consumer spending. Microsoft dropped 1.1%, as did payment processors Visa and Mastercard, losing 2.8% and 3.9%, respectively.

"It seems like a complete reversal of what's kind of been the theme over the last few months, where it's been more about higher quality, higher market cap, higher growth, more stable growth and lower volatility," said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute. "Things that had been doing well just completely got sold and the things that had been lagging completely got bought."

The S&P 500 index inched up 0.96 points, or less than 0.1%, to 2,979.39. The Dow Jones Industrial Average rose 73.92 points, or 0.3%, to 26,909.43. The average was briefly down 118 points.

The Nasdaq, which is heavily weighted with technology stocks, slid 3.28 points, or less than 0.1%, to 8,084.16.

Investors continued to flock to smaller-company stocks. They're seen as being better shielded from the fallout of the costly trade war between the U.S. and China than large multinationals.

Among the small-cap gainers were ABM Industries, which rose 3.1% and Spectrum Pharmaceuticals, which jumped 16.9%.

The Russell 2000 index of smaller-company stocks led the gainers, adding 18.76 points, or 1.2%, to 1,542.99.

The broader market has been gaining ground for two weeks as investors remain confident in the strength of the economy, despite the lingering trade war between the U.S. and China. The feud between the world's two largest economies has been injecting doses of volatility into the market as both sides escalate and then pull back. Recent plans for trade talks to resume in October raised some hope on Wall Street for a resolution.

Meanwhile, investors continue to watch the steady flow of economic data for a clearer picture of the U.S. economy's health. Recent reports have been a mixed bag, including a Labor Department report Tuesday that showed both a slip in job openings as well as a slight increase in hiring in July.

The Labor Department will report the latest consumer price index figures on Thursday and the Commerce Department will report August retail sales data on Friday. Economists continue to expect the Federal Reserve to cut interest rates at its meeting next week to help maintain U.S. economic growth.

Apple rose 1.2% after announcing a new slate of iPhones and other products, including a $5 a month streaming video service, which would be cheaper than rival offerings. Netflix and Disney each fell 2.2%.

Traders knocked Wendy's shares 10.5% lower after the fast-food chain cut its profit growth forecast because of plans to expand its breakfast options nationwide. The company plans to invest $20 million this year in the expansion and expects up to 6.5% profit growth instead of 7% growth.

Ford dropped 1.3% after Moody's cut the automaker's credit rating to "junk." Moody's is concerned that the company will be weighed down by weak earnings as it restructures. The move by Moody's makes it more costly for Ford to borrow money.

A mix of consumer product makers and consumer-focused stocks also fell Tuesday. Procter & Gamble dropped 1.9% and McDonald's slid 3.5%.

Energy and industrial companies notched solid gains. Schlumberger rose 3.4% and Deere & Co., rose 3.6%.

Major stock indexes in Europe finished higher Tuesday. Markets in Asia were mixed.

Benchmark crude oil fell 45 cents to settle at $57.40 a barrel. Brent crude oil, the international standard, slipped 21 cents to close at $62.38 a barrel. Wholesale gasoline rose 1 cent to $1.59 per gallon. Heating oil was unchanged at $1.93 per gallon. Natural gas fell 1 cent to $2.58 per 1,000 cubic feet.

Gold fell $11.90 to $1,490.30 per ounce, silver rose 2 cents to $18.04 per ounce and copper was unchanged at $2.61 per pound.

The dollar rose to 107.43 Japanese yen from 107.16 yen on Monday. The euro weakened to $1.1047 from $1.1052.


https://www.usnews.com/news/busines...xed-as-investors-look-ahead-to-rate-decisions


----------



## bigdog

Stocks notched broad gains on Wall Street Wednesday as investors drew encouragement from China's move to exempt some U.S. products from a recent round of tariffs.

Technology, health care and communication services stocks powered much of the rally. The benchmark S&P 500 index, which had been essentially flat since Friday, is on track for its third straight weekly gain.

Bond yields continued to climb. Oil prices fell, and investors also continued to favor smaller-company stocks.

The S&P 500 rose 21.54 points, or 0.7%, to 3,000.93. It's the first time the index has finished above 3,000 points since July 30.

The Dow Jones Industrial Average gained 227.61 points, or 0.8%, to 27,137.04. The Nasdaq picked up 85.52 points, or 1.1%, to 8,169.68.

According to the latest SPI futures, the ASX 200 index is expected to open the day 25 points or 0.4% higher this morning










https://www.usnews.com/news/busines...hares-mostly-higher-after-rise-on-wall-street

*US Stocks Notch Solid Gains as China Eases Trade Tensions*
Stocks notched broad gains on Wall Street Wednesday as investors drew encouragement from China's move to exempt some U.S. products from a recent round of tariffs.
By Associated Press, Wire Service Content Sept. 11, 2019, at 4:59 p.m.

By ALEX VEIGA, AP Business Writer

Stocks notched broad gains on Wall Street Wednesday as investors drew encouragement from China's move to exempt some U.S. products from a recent round of tariffs.

Technology, health care and communication services stocks powered much of the rally. The benchmark S&P 500 index, which had been essentially flat since Friday, is on track for its third straight weekly gain.

Bond yields continued to climb. Oil prices fell, and investors also continued to favor smaller-company stocks.

Wednesday's push into technology companies marked a reversal from the first couple of days of the week, when traders bid up energy, financials and other sectors that had sold off in recent weeks. The tech sector is particularly sensitive to fallout from the trade war between Washington and Beijing because many big companies, such as Apple, manufacture products in China.

"Today you have a little bit of a rotation back," said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. "You're getting some movement that trade may not be as bad as we think, with China relieving some of the restrictions on its own tariffs."

The S&P 500 rose 21.54 points, or 0.7%, to 3,000.93. It's the first time the index has finished above 3,000 points since July 30.

The Dow Jones Industrial Average gained 227.61 points, or 0.8%, to 27,137.04. The Nasdaq picked up 85.52 points, or 1.1%, to 8,169.68.

The Russell 2000 index of smaller-company stocks outpaced the broader market, climbing 32.72 points, or 2.1%, to 1,575.71.

Major indexes in Europe also finished broadly higher.

Bond prices fell. The yield on the 10-year Treasury rose to 1.75% from 1.70% late Tuesday.

Financial markets have been roiled this summer as the trade war escalated. Investors worry the impact of tariffs and a slowing global economy could tip the U.S. into a recession. The economic uncertainty has also become a drag on companies.

Some of those trade concerns appeared to ease Wednesday after China said it will exempt American industrial grease and some other imports from tariff increases, though it kept in place penalties on soybeans and other major U.S. exports ahead of negotiations next month.

The move could indicate that both sides are settling in for an extended conflict even as they prepare for talks in Washington aimed at ending the dispute that threatens global economic growth.

Investors continue to expect the Federal Reserve will cut interest rates at its meeting next week in another bid by the central bank to help maintain U.S. economic growth. The Fed raised its benchmark interest rate in July by a quarter point. That was its first hike in a decade.

Despite a rough and tumble August, the stock market is off to a solid September, with the S&P 500 coming off two weeks of gains.

The Russell 2000 is the clear winner midway into this week, boasting a 4.7% gain. Smaller companies within the index are viewed as more insulated from the impact of volatile swings in the U.S.-China trade war. They are also less affected by a stronger U.S. dollar than multinational companies.

"The stronger dollar does tend to mean domestic companies that are wholly domestic are going to do better," said Haworth.

The S&P 500 is up 0.7% for the week and the Nasdaq is up 0.8%. The Dow is slightly stronger, notching a 1.3% gain.

Apple was among the big gainers as investors snapped up technology stocks. Shares in the iPhone maker, which unveiled a variety of new products and services on Tuesday, climbed 3.2%. Chipmaker Intel gained 1.9%.

Health care and communications stocks also made strong gains. Medtronic rose 1.1% and AT&T climbed 3.1%.

The financial sector wobbled between small gains and losses after pulling out of an early slide. Wells Fargo added 1.1%. Real estate stocks finished flat.

Shares in tobacco giants Altria Group and Philip Morris International rose after a brief slide following the Trump administration's announcement that it is looking to ban thousands of flavors used in e-cigarettes amid an outbreak of breathing problems tied to vaping.

State and federal health authorities are investigating hundreds of breathing illnesses reported in people who have used e-cigarettes and other vaping devices. No single device, ingredient or additive has been identified.

Altria, which has taken a roughly $13 billion stake in vaping giant Juul, rose 0.6%. Philip Morris gained 0.7%. The companies confirmed last month that they are in talks to merge after they split in 2008.

Traders also weighed a mixed batch of corporate earnings and outlooks Wednesday.

Oracle shares declined 3.1% in after-hours trading after the company announced that its CEO is taking a leave of absence for health reasons.

GameStop plunged 10.2% after the video game retailer slashed its full-year profit forecast following a disappointing second quarter. The company continues to struggle as it competes with online game sellers.

Dave & Buster's Entertainment fell 4.6% after the restaurant and arcade operator cut its sales forecast for the year. The company is facing increased competition.

Shares in RH, the owner of furniture company Restoration Hardware, rose 5.3% after its latest quarterly results topped Wall Street's expectations. The company also raised its financial forecast for the year.

Benchmark crude oil fell $1.65 to settle at $55.75 a barrel. Brent crude oil, the international standard, dropped $1.57 to close at $60.81 a barrel. Wholesale gasoline fell 2 cents to $1.57 per gallon. Heating oil declined 3 cents to $1.90 per gallon. Natural gas fell 3 cents to $2.55 per 1,000 cubic feet.

Gold rose $4.10 to $1,494.40 per ounce, silver fell 1 cent to $18.03 per ounce and copper fell 1 cent to $2.60 per pound.

The dollar rose to 107.79 Japanese yen from 107.43 yen on Tuesday. The euro weakened to $1.1007 from $1.1047.


----------



## bigdog

Stocks rose on Wall Street Thursday after the U.S. and China took steps to ease tensions in their costly trade war, putting investors in a buying mood.

Technology, financial and consumer-focused stocks helped power the modest rally, which extended the market's solid gains from the day before despite losing some momentum in the final hour of trading. The benchmark S&P 500 index closed within 0.6% of its all-time high set July 26.

The U.S. agreed to delay another round of tariffs on Chinese imports by two weeks to Oct. 15. Meanwhile, Chinese importers have asked U.S. suppliers for prices for soybeans, pork and other farm goods — a sign they might step up purchases of American agricultural products.

The S&P 500 index rose 8.64 points, or 0.3%, to 3,009.57. The Dow Jones Industrial Average extended its winning streak to a seventh straight day, gaining 45.41 points, or 0.2%, to 27,182.45.

The Nasdaq added 24.79 points, or 0.3%, to 8,194.47. The Russell 2000 index of smaller company stocks gave up an early gain, sliding 0.65 point to 1,575.07.

According to the latest SPI futures, the ASX 200 index is expected to open the day 25 points or 0.4% higher this morning










https://www.usnews.com/news/busines...shares-mixed-after-china-eases-trade-tensions

*Stocks Rise on Fresh Optimism Ahead of US-China Trade Talks*
Stocks rose broadly on Wall Street Thursday after the U.S. and China took steps to ease tensions in their costly trade war, putting investors in a buying mood.
By Associated Press, Wire Service Content Sept. 12, 2019, at 4:40 p.m. 

By ALEX VEIGA, AP Business Writer

Stocks rose on Wall Street Thursday after the U.S. and China took steps to ease tensions in their costly trade war, putting investors in a buying mood.

Technology, financial and consumer-focused stocks helped power the modest rally, which extended the market's solid gains from the day before despite losing some momentum in the final hour of trading. The benchmark S&P 500 index closed within 0.6% of its all-time high set July 26.

The U.S. agreed to delay another round of tariffs on Chinese imports by two weeks to Oct. 15. Meanwhile, Chinese importers have asked U.S. suppliers for prices for soybeans, pork and other farm goods — a sign they might step up purchases of American agricultural products.

The gestures stoked cautious optimism among investors that the next round of trade talks in October between Washington and Beijing may lead to some progress after a string of failed attempts at resolving the longstanding dispute.

"What's driving markets today is the potential for an interim trade deal," said Tony Roth, chief investment officer at Wilmington Trust. "There's enough pain to (China's) domestic economy and there's enough pain to our domestic economy that it's in both presidents' interests to take a step back and have a little bit of breathing room right now. That's what's changed."

The S&P 500 index rose 8.64 points, or 0.3%, to 3,009.57. The Dow Jones Industrial Average extended its winning streak to a seventh straight day, gaining 45.41 points, or 0.2%, to 27,182.45.

The Nasdaq added 24.79 points, or 0.3%, to 8,194.47. The Russell 2000 index of smaller company stocks gave up an early gain, sliding 0.65 point to 1,575.07.

The U.S.-China talks have basically gone nowhere since early May, when the two sides appeared to be nearing a deal. Along the way, the countries have slapped import taxes on hundreds of billions of dollars' worth of each other's products.

Financial markets were rattled in August as the trade conflict escalated yet again, fueling worries that more tariffs and a slowing global economy could bump the U.S. into a recession. The economic uncertainty has also become a drag on companies.

The two countries' conciliatory moves Wednesday and Thursday have raised hopes on Wall Street that the upcoming round of trade negotiations may yield a different outcome than previous attempts.

The reason? The trade war has begun to take its toll economically on both economies.

"Six months ago, even three months ago, you weren't registering as much economic deterioration as you are now in both economies," Roth said. "The markets are believing that there's some credibility in the idea that there may be an interim trade truce, let's call it, where they roll back some of the tariffs, the Chinese would by some stuff, and there would be relief to both economies."

Several weeks of solid gains have helped the S&P 500 more than recoup its losses in August, nudging it closer to another record high close this week.

The index is also on track for its best September since 2013. The S&P 500 is up 2.8% this month after slipping 1.8% in August. That's notable because the index has fallen in September 55% of the time since World War II, although the record has been better during the 10-year bull market.

Small companies are the star performers so far this month. The Russell 2000 index of smaller-company stocks is up 5.4%, with much of the gain coming this week. Those smaller companies are viewed as more insulated from the impact of volatile swings in the U.S.-China trade war.

Tech stocks notched solid gains Thursday. The sector's companies, particularly chipmakers, are heavily impacted by the trade war because many of them make products in China or rely on Chinese suppliers.

Chipmaker Intel gained 0.4%, while Advanced Micro Devices rose 1.5%. Microsoft, the most valuable company in the S&P 500, added 1%.

Consumer-focused stocks also helped lift the market. Starbucks rose 1.2%.

Energy companies tumbled as oil prices slid 1.2%. Oilfield services company Schlumberger dropped 1.1%.

Health care stocks gave up an early gain. UnitedHealth Group fell 1.8%.

The yield on the 10-year Treasury rose to 1.78% from 1.73% a day earlier, giving a boost to financial sector stocks. Higher yields drive interest rates on mortgages and other consumer loans higher, which drives up bank profits. SunTrust Banks gained 1.3% and American Express rose 0.9%.

Tailored Brands plunged 29.8% after the owner of Men's Wearhouse and Jos. A Bank gave investors a dismal third quarter profit forecast and halted its dividend.

Investors gave a cool reception to SmileDirectClub's stock market debut. Shares in the direct-to-consumer teeth-straightening company ended 27.5% lower than its opening price.

Benchmark crude oil fell 66 cents to settle at $55.09 a barrel. Brent crude oil, the international standard, dropped 43 cents to close at $60.38 a barrel. Wholesale gasoline fell 2 cents to $1.55 per gallon. Heating oil declined 1 cent to $1.89 per gallon. Natural gas rose 2 cents to $2.57 per 1,000 cubic feet.

Gold rose $4.30 to $1,498.70 per ounce, silver rose 1 cent to $18.04 per ounce and copper rose 2 cents to $2.62 per pound.

The dollar rose to 108.14 Japanese yen from 107.79 yen on Wednesday. The euro strengthened to $1.1073 from $1.1007.

Stocks in Europe finished higher following the European Central Bank's latest round of economic stimulus.


----------



## bigdog

The S&P 500 notched its third straight weekly gain Friday, even as the major U.S. stock indexes ended the day mostly lower.

A slide in technology stocks, along with losses in consumer-focused and real estate companies, offset solid gains elsewhere in the market, including big Wall Street banks and industrial stocks.

The S&P 500 index slipped 2.18 points, or 0.1%, to 3,007.39. With a gain of about 1% this week, the benchmark S&P 500 moved closer to its all-time high of 3,025.86 set on July 26.

The Dow Jones Industrial Average posted its eighth straight gain, rising 37.07 points, or 0.1%, to 27,219.52.

The technology heavy Nasdaq fell 17.75 points, or 0.2%, to 8,176.71.

My NYSE postings for the next two weeks will be later and closer to 10:00 AM










DOW versus AORD chart





https://www.usnews.com/news/busines...es-gain-on-fresh-optimism-over-us-china-trade

*US Stock Indexes End Mixed; S&P 500 Notches 3rd Weekly Gain*
The S&P 500 notched its third straight weekly gain Friday, even as the major U.S. stock indexes ended the day mostly lower.
By Associated Press, Wire Service Content Sept. 13, 2019, at 4:47 p.m.

By ALEX VEIGA, AP Business Writer

The S&P 500 notched its third straight weekly gain Friday, even as the major U.S. stock indexes ended the day mostly lower.

A slide in technology stocks, along with losses in consumer-focused and real estate companies, offset solid gains elsewhere in the market, including big Wall Street banks and industrial stocks.

Bond yields rose sharply after the government reported that Americans kept spending money in August, particularly on cars.

An easing of tensions in the costly trade war between the U.S. and China bolstered the market this week, renewing hope among investors that a new round of negotiations slated to begin next month may yield some progress.

Investors are now looking ahead to next week, when the Federal Reserve is expected to announce another interest rate cut. The central bank lowered its benchmark interest rate in July by a quarter point, its first cut in a decade, in a bid to help maintain U.S. economic growth.

"When you have a run like we had, the market tends to pull back," said Quincy Krosby, chief market strategist at Prudential Financial. "Going into the Fed meeting next week, there may be a little bit of caution."

The S&P 500 index slipped 2.18 points, or 0.1%, to 3,007.39. With a gain of about 1% this week, the benchmark S&P 500 moved closer to its all-time high of 3,025.86 set on July 26.

The Dow Jones Industrial Average posted its eighth straight gain, rising 37.07 points, or 0.1%, to 27,219.52.

The technology heavy Nasdaq fell 17.75 points, or 0.2%, to 8,176.71. The Russell 2000 index of smaller-company stocks gained 3.07 points, or 0.2%, to 1,578.14.

Smaller-company stocks were the big winners for the week as the Russell 2000 climbed 4.9%. The smaller, U.S.-focused companies in the Russell are seen as more insulated from the volatile swings in the U.S.-China trade war.

Investors' renewed optimism on trade marks a stark contrast to the entire month of August, when both the U.S. and China made increasingly damaging retaliatory moves to escalate the dispute that has threatened to slow global economic growth and potentially prompt a recession.

"The palpable fear in the market during August has eased as the trade headlines have eased," Krosby said. "But we also saw stimulus from the European Central Bank. The market applauded that and expects the Fed to cut rates."

Central banks around the globe are trying to invigorate their economies at a time when growth is slowing. On Thursday, the ECB delivered a blast of monetary stimulus to try to rescue Europe's teetering economy in the face of sputtering growth and uncertainties caused by the U.S.-China trade conflict and Britain's expected exit from the European Union.

The U.S. economy looks far sturdier than Europe's, and the Fed's action is seen as a pre-emptive bid to help sustain a decade-long expansion.

Still, recent economic data has been mixed. On Friday, the Commerce Department's retail sales report beat economists' forecasts, but showed that consumers are becoming more cautious. The increase came from auto sales. Without those sales, spending was flat for the first time since February.

A steady rise in bond yields propelled bank stocks higher this week. The yield on the 10-year Treasury note is up more than 30 basis points from 1.55% late last week as investors grow more confident about economic growth amid easing trade war tensions. JPMorgan is up 6.8% and Bank of America gained 8.8% this week, far outpacing the broader market.

Bond yields rose sharply Friday following the retail sales report. The yield on the 10-year Treasury rose to 1.90% from 1.79% late Thursday.

That helped lift bank stocks, which rely on higher yields to set interest rates and make more money from loans. JPMorgan rose 2% and Citigroup rose 1.6%.

The decline in technology stocks marked a reversal from Thursday, when the sector led a broad market rally. Apple and Broadcom were the heaviest weights holding the sector down. Apple is among several big technology companies being asked for documents as part of a Congressional antitrust investigation. Apple slid 1.9%.

Chipmakers fell after Broadcom warned that demand remains weak and couldn't project when it will pick up again. Shares in Broadcom, which gets about 48% of its revenue from China, slid 3.4%.

Mining company Freeport-McMoRan climbed 3.8% as easing trade tensions between Washington and Beijing led to a 2.2% spike in copper prices.

Benchmark crude oil fell 24 cents to settle at $54.85 a barrel. Brent crude oil, the international standard, dropped 16 cents to $60.22 a barrel. Wholesale gasoline was unchanged at $1.55 per gallon. Heating oil declined 1 cent to $1.88 per gallon. Natural gas rose 4 cents to $2.61 per 1,000 cubic feet.

Gold fell $7.80 to $1,490.90 per ounce, silver fell 60 cents to $17.44 per ounce and copper rose 6 cents to $2.68 per pound.

The dollar fell to 108.13 Japanese yen from 108.14 yen on Thursday. The euro weakened to $1.1068 from $1.1073.

Major indexes in Europe moved broadly higher. Asian stocks finished with broad gains.

6391


----------



## bigdog

Airlines, cruise lines and other companies in fuel-dependent industries dragged U.S. stocks lower Monday after an attack on Saudi Arabia's biggest oil processing facility sent crude prices soaring.

The U.S. and international benchmarks for crude each vaulted more than 14% — that's comparable to the 14.5% spike in oil on Aug. 6, 1990, following Iraq's invasion of Kuwait.

The Dow Jones Industrial Average fell 0.5% to break a streak of eight consecutive gains. The S&P 500, while down modestly, had its biggest decline in two weeks. American Airlines was the biggest decliner in the index.

The S&P 500 fell 9.43 points, or 0.3%, to 2,997.96. That's the index's largest loss since Sept. 3.

The Dow Jones Industrial Average slid 142.70 points to 27,076.82. The Nasdaq lost 23.17 points, or 0.3%, to 8,153.54.

Small stocks in the Russell 2000 were better performers. The index rose 6.46 points, or 0.4%, to 1,584.60.

According to the latest SPI futures, the ASX 200 index is expected to open the day 13 points or 0.2% lower this morning.









https://www.usnews.com/news/business/articles/2019-09-16/asian-markets-mixed-as-oil-prices-surge

*US Stocks Close Lower as Spike in Crude Oil Rattles Market*
Airlines, cruise lines and other companies in fuel-dependent industries helped pull U.S. stocks broadly lower Monday after an attack on Saudi Arabia's biggest oil processing facility sent crude prices soaring.
By Associated Press, Wire Service Content Sept. 16, 2019, at 5:12 p.m. 

By STAN CHOE and ALEX VEIGA, AP Business Writers

Airlines, cruise lines and other companies in fuel-dependent industries dragged U.S. stocks lower Monday after an attack on Saudi Arabia's biggest oil processing facility sent crude prices soaring.

The U.S. and international benchmarks for crude each vaulted more than 14% — that's comparable to the 14.5% spike in oil on Aug. 6, 1990, following Iraq's invasion of Kuwait.

The Dow Jones Industrial Average fell 0.5% to break a streak of eight consecutive gains. The S&P 500, while down modestly, had its biggest decline in two weeks. American Airlines was the biggest decliner in the index.

Shares of oil producers jumped, while prices for Treasurys, gold and other investments seen as less risky rose.

The weekend attack halted production of 5.7 million barrels of crude a day, more than half of Saudi Arabia's global daily exports and more than 5% of the world's daily crude oil production. President Donald Trump warned that the United States was "locked and loaded" to respond as his administration pinned the blame on Iran, which supports the Yemeni rebels who took credit for the attack.

The attack raised worries about the risk of more disruptions in the supply of oil at a time when the global economy's strength is seen as shaky.

Still, analysts expressed doubts that the disruption in Saudi Arabia's oil production would have much of an impact on the U.S. economy, at least in the short term.

"From a global perspective, there's probably a concern," said Willie Delwiche, investment strategist at Baird. "From a U.S. perspective, we produce more now than we used to, and our economy is less dependent on oil than it used to be."

The S&P 500 fell 9.43 points, or 0.3%, to 2,997.96. That's the index's largest loss since Sept. 3.

The Dow Jones Industrial Average slid 142.70 points to 27,076.82. The Nasdaq lost 23.17 points, or 0.3%, to 8,153.54.

Small stocks in the Russell 2000 were better performers. The index rose 6.46 points, or 0.4%, to 1,584.60.

Major stock indexes in Europe also fell. Markets in Asia finished mixed.

The stock market has been volatile since the summer, as worries waxed and waned about the U.S.-China trade war. The most recent move for stocks had been higher, boosted by renewed optimism in recent weeks about easing tensions between Washington and Beijing, and the S&P 500 had climbed back within 1% of its record.

Stocks lost their recent upward momentum Monday as investors weighed the implications of the attack in Saudi Arabia.

While analysts expected that the attack would only disrupt oil supplies temporarily, the bigger threat is the worry about more attacks in the future.

"At a time when oil markets have been in the shadows of a weak global macroeconomic backdrop, the attack on critical Saudi oil infrastructure calls into question the reliability of supplies from not just one of the largest net exporters of crude oil and petroleum products but also the country that holds most of the world's spare production capacity," Barclays analyst Amarpreet Singh wrote in a report.

Benchmark U.S. crude oil soared $8.05 to settle at $62.90 a barrel. Brent crude oil, the international standard, jumped $8.80 to close at $69.02 a barrel.

That helped energy stocks in the S&P 500 surge 3.3%. Marathon Oil gained 11.6%, Devon Energy jumped 12.2% and oilfield services provider Halliburton climbed 11%.

The spike in oil prices weighed on shares in airlines, whose operations can be hurt by any rise in the price of fuel.

American Airlines Group, which spent $3.7 billion on fuel and taxes in the first half of the year, dropped 7.3%. United Airlines slid 2.8%, and Delta Air Lines dropped 1.6%.

Cruise ships also burn lots of fuel, making them vulnerable to oil price swings. Carnival fell 3.2%.

Prices for U.S. government bonds rose as investors moved into safer investments. Yields for bonds fall when their prices rise, and the yield on the 10-year Treasury dropped to 1.85% from 1.90% late Friday. The yield on the two-year Treasury, which moves more on expectations for Fed policy, sank to 1.76% from 1.79%.

Gold, another investment seen as a safer place to park money, rose $12.20 to $1,503.10 per ounce.

Meanwhile, general Motors slumped 4.3% after more than 49,000 members of the United Auto Workers went on strike. It wasn't clear how long the walkout would last.

Small stocks once again did better than their larger rivals. The Russell 2000 is up nearly 7% since Sept. 4, while the big stocks in the S&P 500 are up only about 2%. If the trend lasts, it will mark a sharp turnaround from the last year, which saw big companies dominate their smaller rivals as worries about a possible recession pounded stocks seen as riskier investments.

That long stretch of sharp underperformance may have created a raft of bargains, some analysts say. Small stocks recently hit their cheapest level relative to the big stocks in the Russell 1000 since the summer of 2003, according to Jefferies.

The week's headline event is the Federal Reserve's meeting on interest rates. Investors are confident the central bank will cut short-term rates by a quarter of a percentage point to a range of 1.75% to 2%. It would be the second such cut in two months, as the Fed tries to protect the economy from a global slowdown and the effects of the U.S.-China trade war.

Investors will be looking for clues about what the Fed does next.

"The forward guidance is going to be critical," said Keith Buchanan, portfolio manager, at Globalt Investments.

In other commodities trading Monday, wholesale gasoline rose 20 cents to $1.75 per gallon. Heating oil climbed 20 cents to $2.08 per gallon. Natural gas rose 7 cents to $2.68 per 1,000 cubic feet.

Silver rose 46 cents to $17.90 per ounce and copper fell 6 cents to $2.62 per pound.

The dollar fell to 108.05 Japanese yen from 108.13 yen on Friday. The euro weakened to $1.1006 from $1.1068.


----------



## bigdog

U.S. stock indexes ticked closer to record heights on Tuesday, but the modest moves belied plenty of churning underneath.

Oil prices and energy stocks slumped to give back nearly half of their huge gains from a day earlier. Rising prices for technology stocks and companies that sell to consumers, though, more than made up for those losses. Treasury yields fell a second straight day as the Federal Reserve opened a two-day meeting on interest rates, where investors expect it to announce a cut for the second time in as many months.

The S&P 500 rose 7.74 points, or 0.3%, to 3,005.70. It's back to within 0.7% of its record set in late July.

The Dow Jones Industrial Average rose 33.98, or 0.1%, to 27,110.80, and the Nasdaq composite gained 32.47, or 0.4%, to 8,186.02.

According to the latest SPI futures, the ASX 200 index is expected to open the day 8 points or 0.1% higher this morning.










https://www.usnews.com/news/busines...eaker-after-spike-in-crude-oil-rattles-market

*US Stock Indexes Edge up as Oil Gives up Half of Its Spurt*
U.S. stock indexes ticked closer to record heights on Tuesday, but the modest moves belied plenty of churning underneath.
By Associated Press, Wire Service Content Sept. 17, 2019, at 4:57 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — U.S. stock indexes ticked closer to record heights on Tuesday, but the modest moves belied plenty of churning underneath.

Oil prices and energy stocks slumped to give back nearly half of their huge gains from a day earlier. Rising prices for technology stocks and companies that sell to consumers, though, more than made up for those losses. Treasury yields fell a second straight day as the Federal Reserve opened a two-day meeting on interest rates, where investors expect it to announce a cut for the second time in as many months.

The S&P 500 rose 7.74 points, or 0.3%, to 3,005.70. It's back to within 0.7% of its record set in late July.

The Dow Jones Industrial Average rose 33.98, or 0.1%, to 27,110.80, and the Nasdaq composite gained 32.47, or 0.4%, to 8,186.02.

"We're drifting here a little bit," said David Joy, chief market strategist at Ameriprise Financial. "It's interesting to me, and somewhat encouraging, that the market has held up near its all-time highs despite all these concerns."

The newest of those concerns arrived this past weekend, when an attack on a Saudi Arabian oil facility raised the risk of major disruptions to the world's oil supply. Crude surged more than 14% on Monday, about as much as it did when Iraq invaded Kuwait before the 1991 Gulf War, and concern rose that spiraling oil prices would act as a huge, de facto tax imposed around the world.

But benchmark U.S. crude slumped $3.56 to $59.34 per barrel Tuesday, giving up close to half of its surge from a day earlier. Saudi Arabia's energy minister said that half of the production cut by the attack has already been restored. Brent crude, the international standard, fell $4.47 to $64.55.

That led to a 1.5% loss for energy stocks in the S&P 500, the sharpest among the 11 sectors that make up the index. Marathon Oil dropped 7.8%, and oilfield services provider Halliburton gave up 6.5%.

The drop in oil, though, helped companies carrying big fuel bills recoup some of their sharp losses from the day before. American Airlines Group rose 3.1%, for example, and clawed back about 40% of its loss from Monday.

Technology stocks also made modest gains, including Microsoft's 0.8% rise and Micron Technology's 1.4% climb.

Stocks that pay big dividends, including utilities and real-estate investment trusts, were among the market's leaders as a drop in interest rates made their payouts more attractive.

Investors still largely expect the Fed to cut short-term interest rates by another quarter of a percentage point Wednesday. The central bank cut rates in late July for the first time in more than a decade as it tries to shield the United States from the pain of a slowing global economy and the effects of the trade war with China.

Several economic reports have come in recently that are "good enough" to mean it's no longer a slam dunk that the Fed will cut rates Wednesday, Ameriprise's Joy said. Tensions in the trade war between the world's two largest economies, which has been the No. 1 concern for investors around the world, have seemed to diminish a bit recently, and representatives from Washington and Beijing are scheduled to talk next month. But Joy and many others still expect the Fed to cut Wednesday and perhaps again later this year, similar to the trio of cuts it implemented in 1995-1996 and again in 1998 as part of a "mid-cycle adjustment" in the 1991-2001 economic expansion.

The yield on the 10-year Treasury fell to 1.80% from 1.84% late Monday. The two-year yield, which is more heavily influenced by changes in Fed policy, fell to 1.72% from 1.75%.

Wholesale gasoline fell 8 cents to $1.68 per gallon. Heating oil declined 9 cents to $1.99 per gallon. Natural gas fell 1 cent to $2.67 per 1,000 cubic feet.

Gold rose $1.90 to $1,513.40 per ounce, and silver rose 11 cents to $18.14 per ounce. Copper fell 1 cent to $2.63 per pound. 

The dollar rose to 108.20 Japanese yen from 108.05 yen on Monday. The euro strengthened to $1.1066 from $1.1006.

In markets abroad, France's CAC 40 rose 0.2%, and Germany's DAX lost 0.1%. The FTSE 100 in London was virtually flat.

Japan's Nikkei 225 added 0.1%, and South Korea's Kospi was virtually flat. The Hang Seng in Hong Kong dropped 1.2% after credit-rating agency Moody's downgraded Hong Kong, citing its recent political turmoil.


----------



## bigdog

Major U.S. stock indexes closed mostly higher Wednesday after the Federal Reserve cut its benchmark interest rate for a second time this year, citing slowing global economic growth and uncertainty over U.S. trade conflicts.

Gains in banks, utilities and technology companies outweighed losses elsewhere in the market, which had been broadly lower until the last hour of trading. Bond yields moved lower.

Stocks initially declined after the central bank announced the widely expected rate cut. Its policy statement failed to indicate whether more rate cuts were likely this year, though the central bank left the door open for additional rate cuts if the economy weakens.

The S&P 500 index inched 1.03 points higher, or less than 0.1%, to 3,006.73. The benchmark index is now within 0.7% of its all-time high set in July.

The Dow Jones Industrial Average rebounded after being down most of the day, adding 36.28 points, or 0.1%, to 27,147.08. The Nasdaq slid 8.62 points, or 0.1%, to 8,177.39.

The Russell 2000 index of smaller company stocks bore the brunt of the selling, dropping 9.95 points, or 0.6%, to 1,568.34.

According to the latest SPI futures, the ASX 200 index is expected to open the day 4 points or 0.05% higher this morning










https://www.usnews.com/news/busines...cks-rise-after-oil-falls-wall-street-advances

*US Stocks End Mixed Following Fed's Decision to Cut Rates*
Major U.S. stock indexes closed mostly higher Wednesday after the Federal Reserve cut its benchmark interest rate for a second time this year.
By Associated Press, Wire Service Content Sept. 18, 2019, at 5:00 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writer

Major U.S. stock indexes closed mostly higher Wednesday after the Federal Reserve cut its benchmark interest rate for a second time this year, citing slowing global economic growth and uncertainty over U.S. trade conflicts.

Gains in banks, utilities and technology companies outweighed losses elsewhere in the market, which had been broadly lower until the last hour of trading. Bond yields moved lower.

Stocks initially declined after the central bank announced the widely expected rate cut. Its policy statement failed to indicate whether more rate cuts were likely this year, though the central bank left the door open for additional rate cuts if the economy weakens.

"We're not on a preset course," Fed Chairman Jerome Powell said in an afternoon press conference.

Even so, diverging opinions within the members of the Fed's policymaking committee left some investors feeling uneasy about what the Fed may do next.

"The (Fed) cut rates, as expected, but the quantity and necessity of future rate cuts were called into question," Sam Stovall, chief investment strategist at CFRA, wrote in a research note.

The S&P 500 index inched 1.03 points higher, or less than 0.1%, to 3,006.73. The benchmark index is now within 0.7% of its all-time high set in July.

The Dow Jones Industrial Average rebounded after being down most of the day, adding 36.28 points, or 0.1%, to 27,147.08. The Nasdaq slid 8.62 points, or 0.1%, to 8,177.39.

The Russell 2000 index of smaller company stocks bore the brunt of the selling, dropping 9.95 points, or 0.6%, to 1,568.34.

The Fed is trying to combat threats to the U.S. economy, including uncertainties caused by President Donald Trump's trade war with China, slower global growth and a slump in American manufacturing.

Investors largely expected the Fed to cut short-term interest rates by another quarter of a percentage point, following a similar cut in late July. The rate, which is now at a range of 1.75% to 2%, influences many consumer and business loans.

A look at how each of the central bank's policymakers voted offered few clues as to the likelihood of further rate cuts.

Fed officials approved the rate cut 7-3, with two officials preferring to keep rates unchanged and one arguing for a bigger half-point cut. It was the most Fed dissents in three years. The policy committee also remains split on whether rates should be a quarter-point lower, higher or the same as they are now by the end of this year.

The divisions among Fed officials underscore the challenges confronting Powell in guiding the Fed at time of high uncertainty in the U.S. economy. They also fuel doubts among investors looking for certainty on interest rate policy.

"The Fed didn't say a lot that was new, but there are some people who were just holding on and hoping against hope that there would be some kind of dovish surprise, and there wasn't," said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

The broader market has been wobbling this week and is so far on track for a slight weekly loss after three consecutive weeks of gains. Those gains came as both sides in the U.S.-China trade war took steps to ease tensions ahead of planned negotiations in October.

But, the volatility has been taking its toll. The S&P 500 is eking modest gains of 2.2% for the quarter with just a few weeks left. That marks a pullback from gains of 3.8% in the second quarter and a notable deceleration from the 13.1% rise during the first quarter.

Bond prices rose and the yield on the 10-year Treasury fell to 1.80% from 1.81% late Tuesday. Investors typically shift money into bonds when they grow more concerned about the economy's health.

Financial stocks recovered from an early slide. JPMorgan gained 1% and Citigroup rose 0.9%.

A disappointing drop in quarterly profit weighed on FedEx shares, which tumbled 12.9%, making it the biggest decliner in the S&P 500. The package delivery giant also cut its full-year forecast.

Adobe fell 1.8% after giving investors a weak profit forecast.

Chewy slid 6.1% to $28.39 after the online pet store's fiscal second quarter loss was far wider than Wall Street had expected. The company debuted on the New York Stock Exchange in June at $22 per share and closed at $34.99 on its first day.

Major stock indexes in Europe closed mostly higher. Asian stocks ended mixed.

Oil prices continued pulling back from a 14% spike on Monday as Saudi Arabia brings back production at an oil facility attacked over the weekend. Benchmark U.S. crude fell $1.23 to settle at $58.11 per barrel. Brent crude, the international standard, dropped 95 cents to close at $63.60.

Wholesale gasoline fell 2 cents to $1.66 per gallon. Heating oil declined 2 cents to $1.97 per gallon. Natural gas fell 3 cents to $2.64 per 1,000 cubic feet.

Gold rose $2.40 to $1,507.50 per ounce, silver fell 22 cents to $17.80 per ounce and copper fell 1 cent to $2.60 per pound.

The dollar rose to 108.35 Japanese yen from 108.20 yen on Tuesday. The euro weakened to $1.1032 from $1.1066.


----------



## bigdog

Major U.S. stock indexes ended mixed Thursday after an early rally lost its strength toward the end of the day.

The S&P 500 managed to hold on to a tiny gain that extended its winning streak to a third day. The benchmark index, which is within 0.7% of its all-time high set July 26, ended the day slightly down for the week.

Gains in health care, technology, utilities and other sectors outweighed losses elsewhere in the market Thursday. Advancers outnumbered decliners on the New York Stock Exchange. Bond yields were little changed.

The S&P 500 index rose 0.06 points, or less than 0.1%, to 3,006.79. 

The Dow Jones Industrial Average gave up an early gain, sliding 52.29 points, or 0.2%, to 27,094.79. 

The Russell 2000 index of smaller company stocks also relinquished an early gain, losing 6.87 points, or 0.4%, to 1,561.47.  

The Nasdaq squeaked out a gain of 5.49 points, or 0.1%, to 8,182.88.

According to the latest SPI futures, the ASX 200 index is expected to open the day 12 points or 0.2% higher this morning.










https://www.usnews.com/news/busines...es-mixed-following-feds-decision-to-cut-rates

*US Stock Indexes Finished Mixed After Early Rally Fades*
Major U.S. stock indexes ended mixed Thursday after an early rally lost its strength toward the end of the dayflat.
By Associated Press, Wire Service Content Sept. 19, 2019, at 5:37 p.m.

By ALEX VEIGA, AP Business Writer

Major U.S. stock indexes ended mixed Thursday after an early rally lost its strength toward the end of the day.

The S&P 500 managed to hold on to a tiny gain that extended its winning streak to a third day. The benchmark index, which is within 0.7% of its all-time high set July 26, ended the day slightly down for the week.

Gains in health care, technology, utilities and other sectors outweighed losses elsewhere in the market Thursday. Advancers outnumbered decliners on the New York Stock Exchange. Bond yields were little changed.

The market rallied in the early going as investors weighed a batch of encouraging economic reports. The positive data reinforces the outlook from the Federal Reserve, which projects slower economic growth, but not a recession.

On Wednesday, the Fed reduced its benchmark interest rate for the second time this year in a bid to keep the economy from stalling in the face of slowing economic growth overseas and uncertainty over the U.S.-China trade war.

Fed officials were sharply divided in their outlook for future interest rate policy. As a result, the central bank didn't indicate clearly whether more rate cuts were likely this year. Still, Fed officials left the door open for additional rate cuts if the economy weakens.

"That's a nuanced message that markets are beginning to feel comfortable with," said Kate Warne, chief investment strategist at Edward Jones. "And the fact that the economic data today was a little better than expected is reassuring, as opposed to worrisome, in an environment where there's a lot of variation among voting members (of the Fed)."

The S&P 500 index rose 0.06 points, or less than 0.1%, to 3,006.79. The Dow Jones Industrial Average gave up an early gain, sliding 52.29 points, or 0.2%, to 27,094.79. The Russell 2000 index of smaller company stocks also relinquished an early gain, losing 6.87 points, or 0.4%, to 1,561.47.

The Nasdaq squeaked out a gain of 5.49 points, or 0.1%, to 8,182.88.

Bond prices were little changed. The yield on the 10-year Treasury held at 1.78%.

Traders were encouraged Thursday by new economic snapshots, including data indicating U.S. home sales rose sharply last month and an index of manufacturing activity that came in ahead of analysts' forecasts. In addition, applications for U.S. unemployment aid edged higher last week, but still totaled less than what economists projected.

Recent data suggests the U.S. job market is solid, wages are rising, consumers are still spending and even such sluggish sectors as manufacturing and construction have shown signs of rebounding. Still, investors have been trying to gauge how the economy will fare amid a slowdown in economies overseas and uncertainty over the trade war between the U.S. and China.

The Fed's outlook for the U.S. economy, and that of corporations, has been clouded this year as the trade conflict between the world's two biggest economies has escalated and multiple attempts at negotiating a resolution have failed.

Markets have rallied this month after the U.S. and China took steps to ease tensions in advance of talks next month. That's fueled speculation among investors that the two countries may at least reach an interim deal in their costly trade conflict.

"A lack of escalation or potential de-escalation would be something that would be viewed positively by the markets," said Bill Northey, senior investment director at U.S. Bank Wealth Management.

Washington and Beijing were set to begin trade talks Thursday ahead of more formal negotiations set for next month.

Meanwhile, France's finance minister said Europe is ready to impose retaliatory tariffs next year on U.S. goods as part of a long-running dispute over subsidies to plane makers Airbus and Boeing.

Merck & Co. was a big winner among health stocks Thursday, rising 1.1%. Microsoft climbed 1.8% after the software giant boosted its quarterly dividend and approved a $40 billion stock buyback. Sempra Energy added 1.1% to lead the gainers in the utilities sector.

Financial and industrial stocks were among the losers. Regions Financial slid 1.4% and Southwest Airlines dropped 2%.

Energy stocks, which rallied earlier in the week as crude oil prices soared following an attack on key oil facilities in Saudi Arabia, also declined. Hess slid 2%.

Several homebuilders rose after the National Association of Realtors said that sales of previously occupied U.S. homes climbed last month to a seasonally adjusted annualized rate of 5.49 million units, the best performance since March 2018. Sales have increased 2.6% from a year ago. Hovnanian Enterprises gained 3.6%.

U.S. Steel sank 11.2% after it warned investors that its third quarter loss will be wider than anticipated.

Darden Restaurants fell 5.1% after the owner of the Olive Garden and other restaurant chains reported first quarter results that disappointed investors. The company's earnings topped Wall Street's forecasts, but other performance metrics lagged amid weaker sales at some of Darden's chains.

Benchmark U.S. crude inched up 2 cents to settle at $58.13 a barrel. It's up 6.3% this week. Brent crude, the international standard, rose 80 cents to close at $64.40.

Wholesale gasoline rose 4 cents to $1.70 per gallon. Heating oil climbed 3 cents to $2.00 per gallon. Natural gas fell 10 cents to $2.54 per 1,000 cubic feet.

Gold fell $9.10 to $1,498.40 per ounce, silver fell 3 cents to $17.77 per ounce and copper fell 1 cent to $2.59 per pound.

The dollar fell to 107.97 Japanese yen from 108.35 yen on Wednesday. The euro strengthened to $1.1052 from $1.1032.

Major stock indexes in Europe finished mostly lower. Indexes in Asia were mixed.


----------



## bigdog

Wall Street closed out a volatile week with losses Friday as investors worried that upcoming trade talks aimed at resolving the costly trade war between Washington and Beijing could be in trouble.

The selling, which erased modest early gains for the market, snapped a three-week win streak for the S&P 500. The benchmark index is still up 2.2% for September.

The afternoon market slide came as investors reacted to published reports indicating Chinese officials canceled a planned trip to farms in Montana and Nebraska and would be returning to China. Representatives from the U.S. and China were engaging in preliminary discussions over the next two weeks to lay the groundwork for more formal negotiations next month.

The S&P 500 fell 14.72 points, or 0.5%, to 2,992.07. The Dow Jones Industrial Average dropped 159.72 points, or 0.6%, to 26,935.07. The index had been up about 100 points then swung as low as 168 points.

The Nasdaq lost 65.20 points, or 0.8%, to 8,117.67, weighed down by declining technology sector stocks. The Russell 2000 index of smaller company stocks slid 1.71 points, or 0.1%, to 1,559.76.










*DOW versus AORD chart*






https://www.usnews.com/news/busines...-shares-mostly-higher-as-china-cuts-loan-rate

*Fresh US-China Trade Worries Erase Early Gains for Stocks*
Stocks closed lower on Wall Street Friday after reports that a Chinese delegation cut short a visit to the U.S. fueled speculation that upcoming talks aimed at resolving the costly trade war between Washington and Beijing are in trouble.
By Associated Press, Wire Service Content Sept. 20, 2019, at 6:05 p.m.

By ALEX VEIGA, AP Business Writer

Wall Street closed out a volatile week with losses Friday as investors worried that upcoming trade talks aimed at resolving the costly trade war between Washington and Beijing could be in trouble.

The selling, which erased modest early gains for the market, snapped a three-week win streak for the S&P 500. The benchmark index is still up 2.2% for September.

The afternoon market slide came as investors reacted to published reports indicating Chinese officials canceled a planned trip to farms in Montana and Nebraska and would be returning to China. Representatives from the U.S. and China were engaging in preliminary discussions over the next two weeks to lay the groundwork for more formal negotiations next month.

The reports about the Chinese delegation came after President Donald Trump told reporters during a midday news conference that he wants a complete deal with China and won't accept one that only addresses some of the differences between the two nations. Trump also said he doesn't feel he needs to secure an agreement before next year's election.

"This is why China has been reluctant to continue to negotiate with the Trump administration, because as soon as it looks like we're moving toward some sort of constructive talks, there is a change in direction and it seems like a lot of head fakes," said Ben Phillips, chief investment officer at EventShares.

Markets rallied this month after the U.S. and China took steps to ease tensions in advance of their next round of talks. That had fueled speculation among investors that the two countries may at least reach an interim deal on trade.

The S&P 500 fell 14.72 points, or 0.5%, to 2,992.07. The Dow Jones Industrial Average dropped 159.72 points, or 0.6%, to 26,935.07. The index had been up about 100 points then swung as low as 168 points.

The Nasdaq lost 65.20 points, or 0.8%, to 8,117.67, weighed down by declining technology sector stocks. The Russell 2000 index of smaller company stocks slid 1.71 points, or 0.1%, to 1,559.76.

Major European indexes closed mostly lower.

Even with Friday's selling, the S&P 500 remains relatively close to its all-time high. The benchmark index held steady this week despite volatility caused by a swing in oil prices and the Federal Reserve's latest interest rate cut.

On Monday, oil prices spiked more than 14% after a key Saudi Arabian oil processing facility was attacked. Oil prices retreated after the Saudi government said production could be restored by the end of the month, although they're still up nearly 6% for the week.

The Federal Reserve cut interest rates for the second time this year as it tries to shore up economic growth amid a lingering trade war between the U.S. and China and weak economic growth overseas. The central bank left open the possibility of additional rate cuts if the economy weakens.

The U.S. and China have slapped import taxes on hundreds of billions of dollars' worth of each other's products in a tariff war that has weighed on global trade and economic growth and created uncertainty for businesses deciding where to situate factories, find suppliers and sell their products.

The two countries appeared to be nearing a deal in early May, but talks stalled after the U.S. accused China of reneging on earlier commitments.

"The market is at a pretty fragile point right now," Phillips said. It's at all-time highs and there are risks, it seems like, building everywhere globally, with trade being the biggest one."

Technology stocks accounted for the biggest share of the market's losses. The sector is particularly sensitive to swings on the trade conflict because many companies manufacture products in China. Apple slid 1.5% and Microsoft dropped 1.2%.

Retailers and other companies that benefit from consumer spending also declined broadly. Amazon fell 1.5% and Starbucks dropped 1.6%.

Financial stocks veered lower as bond yields declined. The yield on the 10-year Treasury fell to 1.72% from 1.77% late Thursday. Bond yields, which can affect interest rates on mortgages and other consumer loans, slid steadily all week. Bank of America and American Express each fell 0.8%.

Netflix led communications services companies lower, sliding 5.5%. In an interview with Variety published Friday, Netflix CEO Reed Hastings acknowledged that the company faces tough competition from Disney, Apple and other companies rolling out streaming services in November. Netflix shares are down nearly 26% this quarter.

Shares in health care companies and utilities stocks rose. Johnson & Johnson added 1.2% and Exelon gained 1.4%.

Semiconductor maker Xilinx tumbled 6.8% as its chief financial officer, Lorenzo Flores, leaves the company for Toshiba Memory Holdings, where he will be vice chairman. Flores will stay at Xilinx through its second quarter financial report.

Benchmark crude oil fell 4 cents to settle at $58.09 a barrel. Brent crude oil, the international standard, dropped 12 cents to close at $64.28 a barrel.

Wholesale gasoline fell 2 cents to $1.68 per gallon. Heating oil declined 1 cent to $1.99 per gallon. Natural gas fell 1 cent to $2.53 per 1,000 cubic feet.

Gold rose $8.90 to $1,507.30 per ounce, silver fell 3 cents to $17.74 per ounce and copper was unchanged at $2.59 per pound.

The dollar fell to 107.67 Japanese yen from 107.97 yen on Thursday. The euro weakened to $1.1015 from $1.1052.

6604


----------



## bigdog

A listless day on Wall Street ended Monday with major indexes closing little changed as modest gains from earlier in the afternoon faded in the final minutes of trading.

The S&P 500 index slipped less than 0.1%, while the Nasdaq inched 0.1% lower. The Dow Jones Industrial Average notched a 0.1% gain. The stock indexes spent most of the afternoon holding on to slight gains following a wobbly morning in the market as investors digested some weak economic figures out of Germany.

Losses in the health care, communication services and industrial sectors outweighed gains in technology stocks, consumer-centric companies and banks. Bond yields declined, a sign that investors were seeking to avoid some risk.

The S&P 500 inched 0.29 points lower, or less than 0.1%, to 2,991.78. The Dow gained 14.92 points, or 0.1%, to 26,949.99. The Nasdaq fell 5.21 points, or 0.1%, to 8,112.46. The Russell 2000 index of smaller companies lost 1.52 points, or 0.1%, to 1,558.25

According to the latest SPI futures, the ASX 200 index is expected to open the day 13 points or 0.2% lower this morning following a poor night of trade in Europe following weak German economic data.










https://www.usnews.com/news/busines...res-fall-as-iran-china-us-trade-tensions-loom

*Late Burst of Selling Leaves US Stock Indexes Little Changed*
A listless day on Wall Street ended Monday with major indexes closing little changed as modest gains from earlier in the afternoon faded in the final minutes of trading.
By Associated Press, Wire Service Content Sept. 23, 2019, at 5:01 p.m.

By ALEX VEIGA, AP Business Writer

A listless day on Wall Street ended Monday with major indexes closing little changed as modest gains from earlier in the afternoon faded in the final minutes of trading.

The S&P 500 index slipped less than 0.1%, while the Nasdaq inched 0.1% lower. The Dow Jones Industrial Average notched a 0.1% gain. The stock indexes spent most of the afternoon holding on to slight gains following a wobbly morning in the market as investors digested some weak economic figures out of Germany.

Losses in the health care, communication services and industrial sectors outweighed gains in technology stocks, consumer-centric companies and banks. Bond yields declined, a sign that investors were seeking to avoid some risk.

Even so, Monday was a relatively quiet day for stocks after last week, when the Federal Reserve lowered interest rates again and fresh jitters over the next round of negotiations in the trade conflict between the U.S. and China helped give the S&P 500 its first week of losses following three straight gains.

"It's a bit of calm after the storm," said Craig Birk, chief investment officer at Personal Capital. "Last week there was a lot going on with geopolitical events and trade developments and central banks. This week, so far, there's nothing so dramatic."

The S&P 500 inched 0.29 points lower, or less than 0.1%, to 2,991.78. The Dow gained 14.92 points, or 0.1%, to 26,949.99. The Nasdaq fell 5.21 points, or 0.1%, to 8,112.46. The Russell 2000 index of smaller companies lost 1.52 points, or 0.1%, to 1,558.25.

The major indexes are each up modestly for the month and the quarter. The benchmark S&P 500 index remains close to its all-time high set in late July.

Bond prices rose, pulling down the yield on 10-year Treasury notes to 1.72% from 1.75% late Friday.

Markets have rallied this month as investors welcomed steps by Washington and Beijing to ease tensions in advance of their next round of talks next month. That's fueled speculation among investors that the two countries may at least reach an interim deal on trade.

But prospects for a trade war resolution appeared to cool once again late last week following comments by President Donald Trump that he doesn't necessarily need to make a deal before the next U.S. elections in 2020. Chinese officials canceled a planned trip to farms in Montana and Nebraska, an action that raised concerns of yet another halt in trade negotiations.

The Fed cut interest rates for the second time this year last week in another bid to shore up economic growth amid the lingering trade war and weak economic growth overseas. The central bank left open the possibility of additional rate cuts if the economy weakens.

Several companies could provide a clearer picture this week of the impact that the costly trade dispute is having on their business.

Nike, which could be a gauge of the trade war's effect on shoemakers and retailers, will report fiscal first quarter results on Tuesday. Technology company Micron will report its fiscal fourth quarter results on Thursday.

"This quarter will be somewhat interesting in that tariffs have been around for a while now and the whole trade conflict is almost two years old," Birk said. "We'll start to see more this quarter if tariffs are truly having an impact, how well companies are able to navigate that or how much it's just an excuse."

Meanwhile, oil prices and the energy sector could experience more volatility this week as Trump takes seeks a coalition to confront Iran, which the U.S. blames for last week's strike on a Saudi Arabian oil facility.

Health care stocks were the biggest laggards Monday. UnitedHealth Group slid 1.8% and Medical supply company McKesson dropped 2.6%.

Netflix was among the big decliners in the communication services sector. The stock fell 1.8%.

Chipmakers were big winners in tech stocks. Nvidia rose 1.2% and Qualcomm gained 1%. Traders also bid up shares in several retailers and restaurant chains. Target climbed 2% and McDonald's rose 1%.

Utilities showed small gains. Investors typically shift to that sector and bonds when they are seeking safer places to put their money amid worries about economic growth.

E-commerce company Overstock.com slumped 25.3% after the company cut its financial forecast partly because tariffs have increased the costs of goods from China. It also named Jonathan Johnson as its new CEO. He has been acting CEO since August when Patrick Byrne resigned.

Benchmark crude oil rose 55 cents to settle at $58.64 a barrel. Brent crude oil, the international standard, gained 49 cents to close at $64.77 a barrel. Wholesale gasoline was unchanged at $1.68 per gallon. Heating oil climbed 1 cent to $2.00 per gallon. Natural gas was unchanged at $2.53 per 1,000 cubic feet.

Gold rose $16.40 to $1,523.70 per ounce, silver rose 86 cents to $18.60 per ounce and copper was unchanged at $2.59 per pound.

The dollar fell to 107.45 Japanese yen from 107.67 yen on Friday. The euro strengthened to $1.0995 from $1.1015.

Major stock indexes in Europe closed broadly lower as a gauge of Germany's private sector activity contracted for the first time in nearly seven years, according to IHS Markit.

Germany is Europe's largest economy and often acts as an indicator for the continent's overall economic health. The latest data adds to worries that Europe is facing a slowdown. The European Central Bank is urging governments to spend more on stimulus as economic growth stalls.


----------



## bigdog

Stocks dropped on Wall Street Tuesday as House Democrats met to consider a potential impeachment probe of President Donald Trump and a report showed a drop in consumer confidence.

After a higher open, stocks declined as the Conference Board, a business research group, reported its consumer confidence index fell to 125.1 in September from a revised reading of 134.2 in August. That's worrisome because consumer spending has underpinned the economy during a slowdown in manufacturing.

The declines intensified after reports said a growing number of Democrats were in favor of launching an impeachment inquiry against the president and House Democrats were meeting to consider the possibility. Stocks recovered somewhat after Trump said he plans to release the full transcript of a July phone call with Ukraine's president that is at the center of the impeachment discussions.

It was the market's most volatile day this month. The Dow Jones Industrial Average swung from a gain of 130 points to a loss of around 245 points as investors' attention swung between headlines on economics and politics. The index finished with a loss of 142 points.

The S&P 500 index fell 25.18 points, or 0.8%, to 2,966.60. The benchmark index remains within 2% of its all-time high set in late July.

The Dow slid 142.22 points, or 0.5%, to 26,807.77. The Nasdaq lost 118.84 points, or 1.5%, to 7,993.63.

*According to the latest SPI futures, the ASX 200 index is expected to open the day a disappointing 70 points or 1.1% lower this morning.*










https://www.usnews.com/news/busines...s-edge-higher-as-china-us-trade-talks-planned

*Stocks Fall as Democrats Turn up Heat on Trump*
Stocks turned volatile on Wall Street Tuesday as investors watched developments surrounding a potential impeachment probe of President Donald Trump and weighed economic data showing a drop in consumer confidence.
By Associated Press, Wire Service Content Sept. 24, 2019, at 5:18 p.m.

By ALEX VEIGA, AP Business Writer

Stocks dropped on Wall Street Tuesday as House Democrats met to consider a potential impeachment probe of President Donald Trump and a report showed a drop in consumer confidence.

After a higher open, stocks declined as the Conference Board, a business research group, reported its consumer confidence index fell to 125.1 in September from a revised reading of 134.2 in August. That's worrisome because consumer spending has underpinned the economy during a slowdown in manufacturing.

The declines intensified after reports said a growing number of Democrats were in favor of launching an impeachment inquiry against the president and House Democrats were meeting to consider the possibility. Stocks recovered somewhat after Trump said he plans to release the full transcript of a July phone call with Ukraine's president that is at the center of the impeachment discussions.

It was the market's most volatile day this month. The Dow Jones Industrial Average swung from a gain of 130 points to a loss of around 245 points as investors' attention swung between headlines on economics and politics. The index finished with a loss of 142 points.

"News of increased likelihood of impeachment proceedings has just added to this overall level of uncertainty that's out there right now," said Willie Delwiche, investment strategist at Baird.

House Speaker Nancy Pelosi announced the House is moving forward with an official impeachment inquiry after the market closed.

The swings in stocks Tuesday disrupted the relative calm that has distinguished the market in September. Traders sought safety — they piled into bonds, sending yields sharply lower. They also bid up utilities and household goods makers. All other sectors declined.

The S&P 500 index fell 25.18 points, or 0.8%, to 2,966.60. The benchmark index remains within 2% of its all-time high set in late July.

The Dow slid 142.22 points, or 0.5%, to 26,807.77. The Nasdaq lost 118.84 points, or 1.5%, to 7,993.63.

Traders also turned away from smaller company stocks. The Russell 2000 index gave up 24.64 points, or 1.6%, to 1,533.61.

Trade news was also in the mix Tuesday. Investors were optimistic after U.S. Treasury Secretary Steven Mnuchin confirmed that trade negotiations with China will resume the week of Oct.7. But Trump dampened that sentiment with remarks before the U.N. General Assembly, where he underscored the need for a fair trade deal with China, threatening more tariffs.

"Trump's speech to the U.N. did not seem conciliatory toward China," Delwiche said. "The speech today didn't suggest that there was anything imminent in terms of good news from a trade perspective."

Tuesday's volatile turn in the market is a break from what has mostly been positive run for stocks this month after trade tensions between the U.S. and China eased somewhat, fueling speculation among investors that the countries' next round of negotiations might at least yield an interim deal on trade.

The market's gains have become weaker as September nears its end. The S&P 500 notched a 2.8% gain the first week of the month, but is currently on track for a gain of 1.4%.

While uncertainty over a possible impeachment probe into President Trump unsteadied markets Tuesday, history shows the impeachment of a president doesn't necessarily mean disaster for the stock market.

The S&P 500 dropped 1.7% on Sept. 9, 1998, when Independent Counsel Kenneth Starr delivered his report to Congress on possible impeachable offenses by President Bill Clinton. But concern that slumping economies abroad would drag down the U.S. economy was the bigger story of the day for the market.

Two days later, when Starr's report was released to the public, the S&P 500 jumped 2.9% after investors saw the allegations weren't as bad as some had feared.

Stocks veered up and down in the weeks that followed but were solidly higher when the House of Representatives voted in December 1998 to impeach Clinton. When trading opened for the first time following just the second impeachment in the nation's history, the S&P 500 rose 1.2%.

Stocks would keep jumping as they inflated until the dot-com bubble burst in 2000.

Technology stocks accounted for a big slice of the market's decline Tuesday. Chipmaker Intel fell 2.1% and Qualcomm dropped 2.6%.

Energy stocks also dragged on the market as crude oil prices fell 2.3%. Schlumberger slid 4.7% and Halliburton gave up 5.4%.

Investors shifted money into consumer product makers and utilities. Both those sectors moved higher as they are typically considered safer places to shift money when economic growth is uncertain.

Bonds rose and pushed yields lower in another sign that investors were becoming more cautious following the weak consumer confidence data. The yield on the 10-year Treasury slipped to 1.64% from 1.7% late Monday.

Banks, including Citigroup, slid on the lower bond yields. The lower yields hamper a bank's ability to raise interest rates on loans. Citigroup lost 2.4%.

AutoZone fell 4.4% after the auto parts retailer's fiscal fourth quarter sales fell shy of Wall Street forecasts.

Benchmark crude oil fell $1.35 to settle at $57.29 a barrel. Brent crude oil, the international standard, dropped $1.67 to close at $63.10 a barrel. Wholesale gasoline fell 3 cents to $1.65 per gallon. Heating oil declined 3 cents to $1.97 per gallon. Natural gas fell 3 cents to $2.50 per 1,000 cubic feet.

Gold rose $8.40 to $1,532.10 per ounce, silver fell 8 cents to $18.52 per ounce and copper was unchanged at $2.59 per pound.

The dollar fell to 107.05 Japanese yen from 107.45 yen on Monday. The euro strengthened to $1.1018 from $1.0995.

Major European stock indexes fell.


----------



## bigdog

U.S. stocks finished broadly higher Wednesday after President Donald Trump indicated that a deal to resolve the long-running, costly trade dispute with China could happen soon.

Trump's remarks, in addition to a sharp increase in sales of new U.S. homes, helped reverse an early slide for stocks.

Technology companies led the rally, which snapped a three-day losing streak for the market. Communication services stocks and companies that rely on consumer spending also notched solid gains. Health care stocks were the biggest loser.

The S&P 500 index rose 18.27 points, or 0.6%, to 2,984.87. The Dow Jones Industrial Average gained 162.94 points, or 0.6%, to 26,970.71.

The Nasdaq climbed 83.76 points, or 1.1%, to 8,077.38. The Russell 2000 index of smaller companies picked up 17.07 points, or 1.1%, to 1,550.65.

The S&P 500, Dow and Nasdaq are on track to end the third quarter with modest gains.

According to the latest SPI futures, the ASX 200 index is expected to open the day 12 points or 0.2% higher this morning.










https://www.usnews.com/news/busines...tocks-fall-as-democrats-turn-up-heat-on-trump

*US Stocks Rebound on Housing Data, Trump Trade Deal Remark*
U.S. stocks finish broadly higher after Trump indicates a deal to resolve the long-running, costly trade dispute with China could happen soon.
By Associated Press, Wire Service Content Sept. 25, 2019, at 4:57 p.m. 

By ALEX VEIGA, AP Business Writer

U.S. stocks finished broadly higher Wednesday after President Donald Trump indicated that a deal to resolve the long-running, costly trade dispute with China could happen soon.

Trump's remarks, in addition to a sharp increase in sales of new U.S. homes, helped reverse an early slide for stocks.

Technology companies led the rally, which snapped a three-day losing streak for the market. Communication services stocks and companies that rely on consumer spending also notched solid gains. Health care stocks were the biggest loser.

The midmorning release of a rough transcript of a July phone call between Trump and Ukraine's president that is at the center of a congressional impeachment inquiry into Trump didn't have much of an impact on the market. That suggests traders are largely shrugging off the potential consequences the political drama might have for stocks at least for now.

"If the market really thought it was bad, it would go down and stay down, and it would be the only thing impacting the market," said Tom Martin, senior portfolio manager at Globalt Investments.

The S&P 500 index rose 18.27 points, or 0.6%, to 2,984.87. The Dow Jones Industrial Average gained 162.94 points, or 0.6%, to 26,970.71.

The Nasdaq climbed 83.76 points, or 1.1%, to 8,077.38. The Russell 2000 index of smaller companies picked up 17.07 points, or 1.1%, to 1,550.65.

The S&P 500, Dow and Nasdaq are on track to end the third quarter with modest gains.

Stocks got off to a downbeat start Wednesday as traders continued to weigh the implications of the House Democrats-led impeachment inquiry into Trump.

The S&P 500's losses began to ease after the Commerce Department said sales of newly built U.S. homes jumped 7.1% last month as lower interest rates helped drive sales. The report sent homebuilder shares broadly higher. KB Home gained 3%.

Stocks continued to recover after the release of the Trump phone call transcript. The market then climbed into positive territory after Trump, speaking to reporters at the United Nations, said China wants "to make a deal very badly," adding that "it could happen sooner than you think."

Trump did not elaborate. Talks between top-level officials aimed at resolving the costly trade war are expected to take place next month.

The broader market was coming off its worst day of the month, when a weak consumer confidence report, more trade war rhetoric and the start of the impeachment inquiry rattled investors.

Some analysts expressed doubts Wednesday that the political drama unfolding in Washington will affect the market significantly.

"Today, while the current crisis will add to equity market instability, we don't think it will lead to recession or a new bear market," Sam Stovall, chief investment strategist at CFRA, wrote in a research note.

Ryan Detrick, senior market strategist at LPL Financial, said that as long as the economy remains on firm footing, impeachment-related developments won't affect the bull market's run.

Even so, the congressional probe does add a degree of uncertainty to the market and could complicate the White House's efforts to resolve trade disputes with China and other nations.

"The issue is if impeachment ends up being a negative or a distraction, it might hurt Trump's hand in negotiating with the EU and with China," Martin said.

That could further drag out the trade disputes, which have already started to have a negative impact on economies in China, Germany and the U.S.

Chipmakers were among the big winners in the technology sector Wednesday. Nvidia climbed 3.3% and Qualcomm rose 2.7%. Apple, which does a lot of business in China and has much riding on the outcome of the trade war, gained 1.5%.

Citigroup rose 2.2% and Wells Fargo added 1.3% as financial sector stocks rose along with bond yields. The yield on the 10-year Treasury rose to 1.73% from 1.63% late Tuesday, a big move. The higher yields help banks charge more lucrative interest rates on loans.

Communication services stocks also helped lift the market out of its early malaise. Google gained 2.3% and Netflix climbed 4%, recouping some of its losses from earlier in the week.

Boeing rose 1.2% as investors applauded the company's move to form a new safety committee as it deals with the legal and financial fallout from two deadly crashes. Uniform company Cintas climbed 5.7% after it reported a surprisingly good fiscal first-quarter profit and raised its forecast for profits and revenue.

Nike jumped 4.2% after a stellar earnings report and helped lift consumer-oriented companies. Tobacco company Philip Morris jumped 5.2% after calling off merger discussions with fellow tobacco giant Altria, which slid 0.4%.

Benchmark crude oil fell 80 cents to settle at $56.49 a barrel. Brent crude oil, the international standard, dropped 71 cents to close at $62.39 a barrel. Wholesale gasoline fell 2 cents to $1.63 per gallon. Heating oil declined 2 cents to $1.95 per gallon. Natural gas was unchanged at $2.50 per 1,000 cubic feet.

Gold fell $27.50 to $1,504.60 per ounce, silver fell 56 cents to $17.96 per ounce and copper rose 1 cent to $2.60 per pound.

The dollar rose to 107.81 Japanese yen from 107.05 yen on Tuesday. The euro weakened to $1.0942 from $1.1018.

Major stock indexes in Europe finished broadly lower.


----------



## bigdog

Stocks ended modestly lower and bond prices rose on Wall Street Thursday as investors turned cautious, shifting money into lower-risk holdings.

The selling, which lost some of its momentum toward the end of the day, came as traders weighed the implications of the impeachment inquiry into President Donald Trump and new government data showing slower U.S. economic growth.

Communication services, health care and energy stocks accounted for a big slice of the sell-off, which erased some of the market's gains from the day before.

The S&P 500 index fell 7.25 points, or 0.2%, to 2,977.62. The Dow Jones Industrial Average slid 79.59 points, or 0.3%, to 26,891.12. The Nasdaq dropped 46.72 points, or 0.6%, to 8,030.66.

Smaller company stocks bore the brunt of the selling, sending the Russell 2000 down 17.33 points, or 1.1%, to 1,533.33.

According to the latest SPI futures, the ASX 200 index is expected to open the day 35 points or 0.4% higher this morning.










https://www.usnews.com/news/busines...ian-stocks-rise-after-trump-trade-deal-remark

*US Stocks Fall, Bond Prices Rise as Investors Turn Cautious*
Stocks ended modestly lower and bond prices rose on Wall Street Thursday as investors turned cautious, shifting money into lower-risk holdings.
By Associated Press, Wire Service Content Sept. 26, 2019, at 4:49 p.m

By ALEX VEIGA, AP Business Writer

Stocks ended modestly lower and bond prices rose on Wall Street Thursday as investors turned cautious, shifting money into lower-risk holdings.

The selling, which lost some of its momentum toward the end of the day, came as traders weighed the implications of the impeachment inquiry into President Donald Trump and new government data showing slower U.S. economic growth.

Communication services, health care and energy stocks accounted for a big slice of the sell-off, which erased some of the market's gains from the day before.

Consumer product makers, real estate companies and utilities, which are viewed as more defensive sectors, notched gains. Bond prices rose, pulling down the yield on the 10-year Treasury to 1.69% from 1.73% late Wednesday.

The U.S. congressional inquiry into President Trump is throwing more volatility into an already sensitive market, particularly on trade issues. Traders also found no comfort in the Commerce Department's latest economic snapshot, which showed the U.S. economy grew at a modest 2% in the second quarter, a sharply lower pace than the 3%-plus growth rates seen over the past year.

"We're giving back, clearly, some of yesterday's gains," said Jeramey Lynch, global investment specialist at J.P. Morgan Private Bank. "It's just the uncertainty."

The S&P 500 index fell 7.25 points, or 0.2%, to 2,977.62. The Dow Jones Industrial Average slid 79.59 points, or 0.3%, to 26,891.12. The Nasdaq dropped 46.72 points, or 0.6%, to 8,030.66.

Smaller company stocks bore the brunt of the selling, sending the Russell 2000 down 17.33 points, or 1.1%, to 1,533.33.

The S&P 500 and Nasdaq are each on track for their second straight weekly loss as volatile trading brought on by anxiety over trade issues takes its toll. The late September slide has been cutting into quarterly gains for the S&P 500 and all but erased the Nasdaq's third-quarter gain.

Stocks got off to a mostly lower start Thursday ahead of a televised congressional hearing in the impeachment inquiry into President Trump. The markets fluctuated the rest of the morning, but remained lower through much of the afternoon.

While many analysts say the congressional probe isn't likely to affect the market significantly, it does add a degree of uncertainty and could complicate the White House's efforts to resolve trade disputes with China and other nations.

Chinese importers have set deals to buy American soybeans and pork as the governments make conciliatory gestures ahead of trade talks and Trump has suggested a trade deal could happen soon. Nonetheless, investors remain cautious ahead of the next round of trade talks between Washington and Beijing next month.

Separately, Japan and the U.S. signed a deal covering agricultural, industrial and digital trade, but it kept auto tariffs unchanged.

Communication services stocks fell broadly. Facebook slid 1.5% amid concerns that the company could find itself the target of another antitrust investigation.

Health insurers were among the biggest losers. UnitedHealth Group dropped 3% and Cigna slid 3.5%.

Energy stocks also declined. Chevron lost 2.7%.

Technology stocks rebounded after an early slide. The sector has been volatile all week amid investor concerns about the U.S.-China trade war and upcoming negotiations in October. Adobe rose 2.3%.

High-dividend, lower-risk sectors fared better as investors sought safety. Procter & Gamble rose 1.1%, Kimco Realty added 2.4% and Edison International gained 1.6%.

Outside of trade and politics, investors are getting ready for the close of the third quarter and more corporate earnings reports.

"What I'm looking forward to is earnings," Lynch said. "Earnings are going to give us a look at how the third quarter was, particularly with the consumer."

Traders got to review a mixed batch of quarterly company report cards Thursday.

Carnival sank 8.6%, the biggest loser in the S&P 500, after the cruise line operator cut its 2019 profit forecast because of a spike in fuel costs. Crude oil prices have risen more than 23% this year on mix of high supplies and tensions between the U.S. and Iran. Other cruise operators also declined. Norwegian Cruise Line slid 3.8% and Royal Caribbean Cruises skidded 2.5%.

Conagra Brands climbed 3.7% after the food maker reported a surprisingly good first quarter profit. The company cited a solid sales increase in frozen foods and a benefit from last year's purchase of Pinnacle Foods.

Beyond Meat jumped 11.6% as McDonald's started selling the company's plant-based burger in Ontario. The move pits Beyond Meat and McDonald's against Burger King, which is selling a plant-based Impossible Foods burger at its locations.

Investors gave a cool reception to Peloton's stock market debut. Shares in the New York-based connected exercise machine closed 11.2% below their opening price of $27.

Benchmark crude oil fell 8 cents to settle at $56.41 a barrel. Brent crude oil, the international standard, rose 35 cents to close at $62.74 a barrel. Wholesale gasoline rose 3 cents to $1.66 per gallon. Heating oil climbed 1 cent to $1.96 per gallon. Natural gas fell 9 cents to $2.41 per 1,000 cubic feet.

Gold rose $2.90 to $1,507.50 per ounce, silver fell 16 cents to $17.80 per ounce and copper fell 4 cents to $2.56 per pound.

The dollar was unchanged at 107.81 Japanese yen from Wednesday. The euro weakened to $1.0928 from $1.0942.

Major stock indexes in Europe finished broadly higher after a relatively quiet day for international economic news.


----------



## bigdog

Wall Street capped a choppy week with a second straight weekly loss for the S&P 500 Friday as worries about a potential escalation in the trade war between the U.S. and China erased early gains.

Technology companies led the broad slide as investors weighed a report saying the Trump administration is considering ways to limit U.S. investments in China. Bloomberg cited unnamed people familiar with the administration's internal discussions.

Uncertainty over the long-running trade war has fueled volatility in the market and stoked worries that the impact of tariffs and other tactics employed by the countries against each other is hampering U.S. economic and corporate profit growth.

The possibility that the U.S. is weighing another way of applying pressure on China dampened investors' already cautious optimism that the world's two biggest economies might make progress as their representatives resume negotiations next month.

"Here we are, just two weeks out, and now we're doing things to sort of ruffle feathers again," said Randy Frederick, vice president of trading & derivatives at Charles Schwab. "That kind of spooked the market."

The S&P 500 index fell 15.83 points, or 0.5%, to 2,961.79. The benchmark index finished the week with a 1% loss. Even so, it remains 2.1% below its all-time high set in July.

The Dow Jones Industrial Average dropped 70.87 points, or 0.3%, to 26,820.25. The Nasdaq, which is heavily weighted with technology stocks, lost 91.03 points, or 1.1%, to 7,939.63.

Investors also shifted money out of smaller company stocks, which pulled the Russell 2000 index down 12.85 points, or 0.8%, to 1,520.48.










*DOW versus AORD chart*







https://www.usnews.com/news/busines...-stocks-decline-as-traders-mull-trump-inquiry

*US Stocks Fall; S&P 500 Ends With 2nd Straight Weekly Loss*
Wall Street capped a choppy week with a second straight weekly loss for the S&P 500 as worries about a potential escalation in the trade war between the U.S. and China erased early gains.
By Associated Press, Wire Service Content Sept. 27, 2019, at 5:11 p.m.

By ALEX VEIGA, AP Business Writer

Wall Street capped a choppy week with a second straight weekly loss for the S&P 500 Friday as worries about a potential escalation in the trade war between the U.S. and China erased early gains.

Technology companies led the broad slide as investors weighed a report saying the Trump administration is considering ways to limit U.S. investments in China. Bloomberg cited unnamed people familiar with the administration's internal discussions.

Uncertainty over the long-running trade war has fueled volatility in the market and stoked worries that the impact of tariffs and other tactics employed by the countries against each other is hampering U.S. economic and corporate profit growth.

The possibility that the U.S. is weighing another way of applying pressure on China dampened investors' already cautious optimism that the world's two biggest economies might make progress as their representatives resume negotiations next month.

"Here we are, just two weeks out, and now we're doing things to sort of ruffle feathers again," said Randy Frederick, vice president of trading & derivatives at Charles Schwab. "That kind of spooked the market."

The S&P 500 index fell 15.83 points, or 0.5%, to 2,961.79. The benchmark index finished the week with a 1% loss. Even so, it remains 2.1% below its all-time high set in July.

The Dow Jones Industrial Average dropped 70.87 points, or 0.3%, to 26,820.25. The Nasdaq, which is heavily weighted with technology stocks, lost 91.03 points, or 1.1%, to 7,939.63.

Investors also shifted money out of smaller company stocks, which pulled the Russell 2000 index down 12.85 points, or 0.8%, to 1,520.48.

Bond prices were little changed. The yield on the 10-year Treasury note held at 1.68%.

The major U.S. stock indexes were holding on to modest gains early Friday even after investors sized up mixed economic data on consumer spending and durable goods orders.

The Commerce Department said that spending by U.S. consumers rose just 0.1% in August, the smallest gain in six months, even as incomes increased at a solid pace. A separate report showed orders to U.S. factories for big-ticket manufactured goods rose slightly in August, though a key sector that tracks business investment plans declined.

The economic reports followed data on Thursday indicating that the U.S. economy grew at a modest 2% annual rate in the second quarter, a sharply slower pace than earlier the year.

The market mostly moved sideways as investors digested the economic data, but it gave up those modest gains by midday as traders learned the U.S. is considering limiting U.S. investments in China.

Wall Street has been very sensitive to the ups and downs in the trade dispute. Stocks rose Wednesday after President Donald Trump told reporters that China wants "to make a deal very badly," adding that "it could happen sooner than you think."

That optimism faded from the markets Friday as investors considered the implications of the U.S. weighing more tough measures only a couple of weeks away from new trade talks.

"We go right back to the same old negotiating tactics," Frederick said. "It's negotiating with a stick, rather than a carrot."

Negotiators are due to meet next month in Washington for a 13th round of talks aimed at ending the dispute over trade and technology that threatens to tip the global economy into recession.

Both sides have taken conciliatory steps this month ahead of the trade talks, moves that stoked optimism among investors. Chinese importers have set deals to buy American soybeans and pork. And the Trump administration postponed a planned Oct. 1 tariff hike on Chinese imports to Oct. 15.

Technology stocks, which are particularly sensitive to swings in the trade conflict, accounted for much of the selling Friday. Microsoft slid 1.3% and Adobe dropped 2.2%. Micron Technology led the sector's slide after the chipmaker issued a weak profit forecast and a sales warning, citing the trade war. The stock slumped 11.1%, the biggest decliner in the S&P 500.

Communications stocks also took heavy losses. Twitter lost 2.6% and Activision Blizzard fell 3.5%.

The market has been in a slump all week as investors pull back amid trade war worries, reports of sluggish economic growth and an impeachment inquiry into President Trump.

The tech-heavy Nasdaq bore the brunt of the selling. It finished the week with a 2.2% loss. Smaller company stocks had a particularly rough week. The Russell 2000 ended the week down 2.5%.

For some stocks, this week has been their worst of the year. Facebook is off 6.8% for the week after media reports suggesting the Department of Justice is considering opening an antitrust investigation into the social media company.

Financial stocks bucked the broader market slide Friday, with Wells Fargo leading the way. The bank's shares climbed 3.8% after it named its third CEO in as many years. Charles Scharf, currently CEO of Bank of New York Mellon, will take over from C. Allen Parker. The company has been involved in a series of scandals since 2016 with the uncovering of millions of fake checking accounts its employees opened to meet sales quotas.

LATAM Airlines surged 31.1% after Delta Air Lines invested $1.9 billion in the airline, which focuses on Latin American routes. The investment gives Delta a 20% stake in the company.

Benchmark crude oil fell 50 cents to settle at $55.91 a barrel. Brent crude oil, the international standard, dropped 83 cents to close at $61.91 a barrel. Wholesale gasoline fell 1 penny to $1.65 per gallon. Heating oil declined 2 cents to $1.94 per gallon. Natural gas fell 1 cent to $2.40 per 1,000 cubic feet.

Gold fell $8.80 to $1,499.10 per ounce, silver fell 26 cents to $17.55 per ounce and copper rose 2 cents to $2.58 per pound.

The dollar was unchanged at 107.81 Japanese yen from Thursday. The euro strengthened to $1.0941 from $1.0928.

Major stock indexes in Europe finished broadly higher.

6879


----------



## bigdog

U.S. stocks climbed on Monday and gave one last nudge to ensure the S&P 500 emerged from yet another tumultuous quarter with a modest gain.

As has been the case throughout the quarter, movements in President Donald Trump's trade war with China helped drive the market on Monday. Investors found encouragement after China said that its top trade negotiator will lead talks with the United States that are expected to take place next week. The Trump administration also calmed some worries that it may limit U.S. investment in Chinese companies.

The developments helped push technology stocks higher in particular. Those companies often move along with news about trade because of how reliant they are on China as both a customer and a supplier.

The Dow Jones Industrial Average rose 96.58, or 0.4%, to 26,916.83, and the Nasdaq composite added 59.71, or 0.8%, to 7,999.34.

The S&P 500 climbed 14.95 points, or 0.5%, to 2,976.74. The moves left the S&P 500 with a 1.2% gain for the quarter. While that was its smallest quarterly gain this year, the index had been on track for a much worse performance just a month ago.

At the time of writing, SPI futures are pointing to a small gain of 7 points or 0.1% at the open.









https://www.usnews.com/news/busines...s-mixed-as-chinese-markets-head-into-holidays

*Stocks Climb as Markets Cap Turbulent Quarter With Calm End*
U.S. stocks climbed on Monday and gave one last nudge to ensure the S&P 500 emerges from yet another tumultuous quarter with a modest gain.
By Associated Press, Wire Service Content Sept. 30, 2019, at 5:40 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — U.S. stocks climbed on Monday and gave one last nudge to ensure the S&P 500 emerged from yet another tumultuous quarter with a modest gain.

As has been the case throughout the quarter, movements in President Donald Trump's trade war with China helped drive the market on Monday. Investors found encouragement after China said that its top trade negotiator will lead talks with the United States that are expected to take place next week. The Trump administration also calmed some worries that it may limit U.S. investment in Chinese companies.

The developments helped push technology stocks higher in particular. Those companies often move along with news about trade because of how reliant they are on China as both a customer and a supplier. The S&P 500 climbed 14.95 points, or 0.5%, to 2,976.74.

The Dow Jones Industrial Average rose 96.58, or 0.4%, to 26,916.83, and the Nasdaq composite added 59.71, or 0.8%, to 7,999.34.

The moves left the S&P 500 with a 1.2% gain for the quarter. While that was its smallest quarterly gain this year, the index had been on track for a much worse performance just a month ago.

Trump shocked markets in August when he said he'd raise tariffs on Chinese goods, and the announcement sent stocks and bond yields reeling. The S&P 500 dropped more than 6% in the weeks following July 26, when it set its last record. But stocks began climbing again in September as both sides made conciliatory moves to ease tensions.

Yields, meanwhile, remained lower for the quarter after the Federal Reserve cut short-term rates twice. They were the first rate cuts for the Fed since the financial crisis was swamping the economy in 2008. Across the Atlantic, the European Central Bank was likewise working to keep rates low in hopes of shoring up a slowing global economy.

The yield on the 10-year Treasury dipped to 1.65% from 1.67% late Friday. At the end of the last quarter, it was at 2%.

Like the S&P 500, the Dow also ended the quarter with a gain of 1.2%. The technology-heavy Nasdaq was a touch lower, with a loss of 0.1%.

Small companies took on more damage, as they typically do when investors are worried about the threat of a recession. The Russell 2000 lost 2.8% during the quarter.

Don't expect the tumult to end with the close of the quarter.

Aside from the U.S.-China talks, the next three months have plenty of events on the schedule to keep markets on edge. Beyond the United Kingdom's pending exit from the European Union, investors are also waiting to see whether Germany will enter a recession and how the new incoming head of the European Central Bank performs.

Closer to home, the impeachment inquiry into Trump could create even more uncertainty. That puts more pressure on the consumer, the bulwark of the U.S. economy recently, particularly when businesses have become reluctant to spend due to the trade war.

"The consumer's been enough to keep the economy moving, but things like consumer confidence seem to be plateauing," said Emily Roland, co-chief investment strategist at John Hancock Investment Management.

In the next few weeks, companies are scheduled to tell investors how much profit they made during the third quarter. Expectations are generally low again, with analysts forecasting a drop of nearly 4% from a year ago. The results, plus what CEOs say about their spending and revenue forecasts, should give a better picture of the economy's potential direction.

"We need that earnings engine to kick in to drive markets higher," Roland said.

Last year, the S&P 500 slumped 14% in the fourth quarter for its worst performance in seven years when fear spiked that the Federal Reserve's plans to keep raising interest rates and a slowing global economy would knock the United States into a recession.

This time around, the Federal Reserve has shifted gears, and many investors expect the central bank to cut rates at least one more time this year. That could help support markets, even with all the potential flashpoints on the calendar.

Benchmark U.S. crude fell $1.84 to settle at $54.07 per barrel Monday. Brent crude, the international standard, fell $1.13 to $60.78 a barrel.

Natural gas dropped 7 cents to $2.33 per 1,000 cubic feet, heating oil lost 4 cents to $1.91 per gallon and wholesale gasoline fell 5 cents to $1.60 per gallon.

Gold fell $33.40 to $1,465.70 per ounce, silver fell 65 cents to $16.90 per ounce and copper fell 2 cents to $2.56 per pound.

Stock markets around the world were mixed during the quarter, as European growth remained stubbornly weak and Hong Kong saw increasingly violent political protests. In Europe, France's CAC 40 finished with a 2.5% gain for the quarter. Germany's DAX rose 0.2%, and the FTSE 100 lost 0.2%.

In Asia, Japan's Nikkei 225 index rose 2.3% for the quarter, while South Korea's Kospi fell 3.2% and the Hang Seng in Hong Kong lost 8.6%.

The dollar rose to 108.07 Japanese yen from 107.81 yen on Friday. The euro weakened to $1.0902 from $1.0941.


----------



## bigdog

U.S. stocks sank to their worst loss in five weeks on Tuesday after a surprisingly limp report on the nation's manufacturing stirred worries about the economy's strength.

The report showed that manufacturing weakened in September for the second straight month as President Donald Trump's trade war with China dragged on confidence and factory activity. It dashed economists' expectations that August's contraction had been an aberration, and stocks and bond yields immediately reversed course to drop sharply lower following the report.

The S&P 500 slumped 36.49 points, or 1.2%, to 2,940.25 for its sharpest loss since August. The Dow Jones Industrial Average fell 343.79, or 1.3%, to 26,573.04, and the Nasdaq composite dropped 90.65, or 1.1%, to 7,908.68.

The market had been gliding gently upward at the day's start, and the S&P 500 was up as much as 0.5% within the first half hour of trading. But then the report from the Institute for Supply Management hit, showing its manufacturing index was at 47.8 last month, the lowest since 2009. Any reading below 50 indicates a contraction.

Economists had been expecting growth to resume in September, and they had forecast a reading of 50.4, according to FactSet.

According to the latest SPI futures, the ASX 200 is poised to sink 79 points or 1.1% at the open.

Manufacturers say global trade remains the most significant issue, and all the uncertainty caused by the trade war is hurting exporters in particular.










https://www.usnews.com/news/busines...es-gain-australia-cuts-rate-to-record-low-075

*Stocks Sink as US Manufacturing Shrinks Again Amid Trade War*
A surprise contraction in US manufacturing last month knocked the stock market lower, erasing an early rally.
By Associated Press, Wire Service Content Oct. 1, 2019, at 4:19 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — U.S. stocks sank to their worst loss in five weeks on Tuesday after a surprisingly limp report on the nation's manufacturing stirred worries about the economy's strength.

The report showed that manufacturing weakened in September for the second straight month as President Donald Trump's trade war with China dragged on confidence and factory activity. It dashed economists' expectations that August's contraction had been an aberration, and stocks and bond yields immediately reversed course to drop sharply lower following the report.

The S&P 500 slumped 36.49 points, or 1.2%, to 2,940.25 for its sharpest loss since August. The Dow Jones Industrial Average fell 343.79, or 1.3%, to 26,573.04, and the Nasdaq composite dropped 90.65, or 1.1%, to 7,908.68.

Small-company stocks fell more than the rest of the market. The Russell 2000 index lost 29.94 points, or 2%, to 1,493.43.

In the bond market, the yield on the 10-year Treasury dropped to 1.63% from 1.74% before the report's release, which is a big move. Three stocks fell for every one that rose on the New York Stock Exchange, and gold climbed as investors sought safer ground.

The market had been gliding gently upward at the day's start, and the S&P 500 was up as much as 0.5% within the first half hour of trading. But then the report from the Institute for Supply Management hit, showing its manufacturing index was at 47.8 last month, the lowest since 2009. Any reading below 50 indicates a contraction.

Economists had been expecting growth to resume in September, and they had forecast a reading of 50.4, according to FactSet.

Manufacturers say global trade remains the most significant issue, and all the uncertainty caused by the trade war is hurting exporters in particular. Businesses are unsure what the rules of international trade will be, and it's causing CEOs to pull back on their spending plans. In a separate report, the World Trade Organization said global trade growth will slow to its weakest pace this year since 2009.

"The disappointing data is only fanning long-standing fears of slowing global growth," said Alec Young, managing director of Global Markets Research at FTSE Russell.

Manufacturing is a relatively small part of the economy, but investors worry about whether it will spill into other areas. That puts an even bigger spotlight on Friday's jobs report, which economists expect to show an acceleration in hiring.

Household spending has been a pillar for the economy, particularly when manufacturing and business spending are under threat, and a strong job market helps households keep spending. But uncertainty is looming even there.

A report last week showed that consumer spending rose less than economists expected in August. Two reports on consumer confidence last week gave a mixed picture, with one falling below expectations and the other rising above.

Last month's jobs report was also surprisingly weak, but that may have been a one-off, some analysts say.

"The month of August over the last 10 years has been the wonkiest jobs report of the year," said Philip Orlando, chief equity market strategist at Federated Investors. It often falls below expectations, only for the numbers to be revised higher in subsequent months, he said.

"There's no question the data has been softer, slower, weaker, pick your adjective for today versus a year ago," Orlando said about the broad economy. "But I do think we're going to get through this."

Following the weak manufacturing report, investors ratcheted up expectations for the Federal Reserve to come to the economy's aid. They increasingly believe the Fed will cut interest rates by half a percentage point at its meeting later this month, rather than the quarter point they were forecasting a day earlier.

The Fed and other central banks around the world have been aggressive in keeping rates low to shield against the effects of the trade war and slowing global economic growth. The Fed lowered short-term rates twice this summer, down to a range of 1.75% to 2%, the first cuts since the financial crisis was toppling economies around the world in 2008.

Financial stocks were among the market's biggest losers Tuesday, hurt by the drop in interest rates, which can crimp the profits banks made from lending.

Charles Schwab also upended the industry when it said it will eliminate mobile and web trading commissions for stocks, exchange-traded funds and options listed in the United States and Canada. It's the latest move in an industrywide pricing war that's dramatically cut the cost of investing.

Schwab fell 9.7% after the announcement, but rivals sank even more. TD Ameritrade lost 25.8%, and ETrade Financial dropped 16.4% for the biggest loss in the S&P 500.

In European stock markets, the CAC 40 in France fell 1.4%, Germany's DAX lost 1.3% and the FTSE 100 slipped 0.6%. In Asia, Japan's Nikkei 225 rose 0.6%, and South Korea's Kospi gained 0.5%.

Benchmark crude oil fell 45 cents to settle at $53.62 a barrel. Brent crude oil, the international standard, fell 36 cents to close at $58.89 a barrel. Wholesale gasoline was unchanged at $1.57 per gallon. Heating oil was unchanged at $1.90 per gallon. Natural gas fell 5 cents to $2.28 per 1,000 cubic feet.

Gold rose $16.30 to $1,482.00 per ounce, silver rose 30 cents to $17.20 per ounce and copper fell 1 cent to $2.55 per pound.

The dollar fell to 107.73 Japanese yen from 108.07 yen on Monday. The euro strengthened to $1.0936 from $1.0902.


----------



## bigdog

*A Sad Day of All RED*

Stocks tumbled again on Wednesday as worries about a weakening global economy boomeranged around the world.

For a second straight day, the S&P 500 dropped to its worst loss in five weeks. The latest wave of selling came after a report showed hiring by U.S. companies slowed more than economists expected last month, with mining and manufacturing particularly weak. It added to worries that shook markets a day earlier, when a reading on U.S. manufacturing showed the sharpest contraction in a decade.

The reports underscored that President Donald Trump’s trade war with China is continuing to drag on exports and raised the worry that the weakness could spill over into other areas of the economy. The concerns sent markets around the world reeling, with losses sweeping from the United States on Tuesday into Asia and through Europe on Wednesday.

The S&P 500 lost 52.64 points, or 1.8%, to 2,887.61. It was the first back-to-back loss for the index of more than 1% since late last year, when fears about a possible recession seized markets.

The Dow Jones Industrial Average fell 494.42, or 1.9%, to 26,078.62, and the Nasdaq composite dropped 123.44, or 1.6%, to 7,785.25.

Adding to the market’s uncertainty was a ruling by the World Trade Organization that cleared the United States to impose tariffs on up to $7.5 billion of goods from the European Union to make up for illegal subsidies given to plane-maker Airbus. The Trump administration said it would begin them on Oct. 18.

According to the latest SPI futures, the ASX 200 is poised to sink 121 points or 1.8% at the open after the U.S. revealed plans for EU tariffs.

Chinese markets are are closed 1/10 - 7/10 for the 70th National Week where dates are inclusive and all Saturdays and Sundays are non-trading days










https://www.usnews.com/news/busines...-track-wall-st-losses-on-weak-us-factory-data

*Stocks Drop Again to Worst Loss in Weeks on Economy Worries*
Stocks tumbled again on Wednesday as worries about a weakening global economy boomeranged around the world.
By Associated Press, Wire Service Content Oct. 2, 2019, at 5:00 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — Stocks tumbled again on Wednesday as worries about a weakening global economy boomeranged around the world.

For a second straight day, the S&P 500 dropped to its worst loss in five weeks. The latest wave of selling came after a report showed hiring by U.S. companies slowed more than economists expected last month, with mining and manufacturing particularly weak. It added to worries that shook markets a day earlier, when a reading on U.S. manufacturing showed the sharpest contraction in a decade.

The reports underscored that President Donald Trump’s trade war with China is continuing to drag on exports and raised the worry that the weakness could spill over into other areas of the economy. The concerns sent markets around the world reeling, with losses sweeping from the United States on Tuesday into Asia and through Europe on Wednesday.

The S&P 500 lost 52.64 points, or 1.8%, to 2,887.61. It was the first back-to-back loss for the index of more than 1% since late last year, when fears about a possible recession seized markets.

The Dow Jones Industrial Average fell 494.42, or 1.9%, to 26,078.62, and the Nasdaq composite dropped 123.44, or 1.6%, to 7,785.25.

Adding to the market’s uncertainty was a ruling by the World Trade Organization that cleared the United States to impose tariffs on up to $7.5 billion of goods from the European Union to make up for illegal subsidies given to plane-maker Airbus. The Trump administration said it would begin them on Oct. 18.

Even investors who are optimistic that the U.S. economy isn’t facing an imminent recession were struck by Tuesday’s surprisingly weak manufacturing report.

“Manufacturing, that data point does give me further pause,” said Adrian Helfert, director of multi-asset portfolios at Westwood.

The weakness puts an even brighter spotlight on the federal government’s more comprehensive report on the jobs market, which is scheduled for Friday. It measures hiring across the economy, and economists expect it to show an acceleration in hiring last month.

If hiring remains strong, it would support what’s been the stalwart of the economy despite the trade war: healthy consumer spending. If households continue to spend, it can lead to a cycle where stronger sales for companies push them to invest more in their businesses, which creates more jobs and leads to even more consumer spending.

“We still are a consumption-led economy,” Helfert said. “I’m watching that very closely. I am looking for that virtuous cycle.”

Another report that could move markets is Thursday’s reading on the U.S. service sector. Further down the calendar, U.S. and Chinese envoys are expected to discuss their trade disputes next week, and markets have been quick to move on any hint of the chances of a possible deal between the world’s largest economies.

But the weaker-than-expected reports so far this week have rattled investors.

Prices fell across the stock market Wednesday, and all 11 sectors that make up the S&P 500 lost ground from stodgy utilities to go-go technology companies. Roughly seven stocks fell for every two that rose on the New York Stock Exchange.

In search of safety, investors piled into U.S. government bonds and sent yields sliding for a second straight day. Gold also rose, while oil sank after a report showed that the amount of crude supplies in inventories swelled last week.

Investors also increased their bets that the Federal Reserve will slash interest rates at its next meeting to shield the economy from slowing growth abroad and the effects of the trade war.

Markets are pricing in a 75% probability that the Fed will cut short-term rates by half a percentage point at its Oct. 29-30 meeting. A week ago, markets were seeing it closer to a coin flip’s chance. The Fed hasn’t cut rates by that large a margin since the financial system was melting down in 2008.

Financial stocks were laggards Wednesday as bond yields continued to slide. Lower interest rates can crimp the profits banks make from lending, and the yield on the 10-year Treasury fell to 1.60% from 1.64% late Tuesday.

European markets also dropped more than U.S. indexes, with Germany’s DAX losing 2.8%, France’s CAC 40 dropping 3.1% and the FTSE 100 in London down 3.2%.

Japan’s Nikkei 225 slipped 0.5%, South Korea’s Kospi fell 2% and the Hang Seng in Hong Kong dipped 0.2%.

Benchmark crude oil fell 98 cents to settle at $52.64 a barrel. Brent crude oil, the international standard, fell $1.20 to close at $57.69 a barrel. Wholesale gasoline fell 2 cents to $1.55 per gallon. Heating oil declined 3 cents to $1.87 per gallon. Natural gas fell 3 cents to $2.25 per 1,000 cubic feet.

Gold rose $19.00 to $1,501.00 per ounce, silver rose 39 cents to $17.59 per ounce and copper rose 1 cent to $2.56 per pound.

The dollar fell to 107.22 Japanese yen from 107.73 yen on Tuesday. The euro strengthened to $1.0958 from $1.0936.

048


----------



## bigdog

Technology and health care companies helped U.S. stocks rebound broadly from an early sell-off Thursday, snapping the market’s steep two-day skid.

The Dow Jones Industrial Average swung from a loss of more than 330 points to a gain of more than 120 after another disappointing economic report raised expectations among investors that the Federal Reserve will cut interest rates again to help keep the U.S. economy growing. The S&P 500 and Nasdaq also recovered from the early rout.

Traders were jolted by surprisingly slow growth in the U.S. services sector last month, the weakest in three years. That followed troubling news on business hiring and manufacturing earlier this week that knocked the market lower.

"The market is saying rate cuts are good, this data increases the likelihood of rate cuts, so maybe we overreacted a little bit in terms of selling off," said Willie Delwiche, investment strategist at Baird.

The S&P 500 index rose 23.02 points, or 0.8%, to 2,910.63. The Dow gained 122.42 points, or 0.5%, to 26,201.04. The Nasdaq, which is heavily weighted with technology stocks, climbed 87.02 points, or 1.1%, to 7,872.26. The Russell 2000 index of small-company stocks gained 6.72 points, or 0.5%, to 1,486.35.

While stock prices recovered from their early stumble, investors continued to shift money into the relative safety of U.S. bonds. That drove bond prices higher, lowering their yields. The yield on the 10-year Treasury fell to 1.54% from 1.59% late Wednesday.

Holiday for German DAX and China

*European tariffs*
Investors around the globe were hitting the sell button overnight after the U.S. revealed plans to impose tariffs on European Union goods including aircraft and agricultural products. This follows news that the WTO gave the Trump administration the right to put tariffs on US$7.5 billion in European goods. The U.S. had lodged complaints as far back as 2004, over what it called illegal subsidies for aircraft maker Airbus by several European governments

According to the latest SPI futures, the ASX 200 is poised to climb 33 points or 0.5% at the open.










https://www.usnews.com/news/busines.../asian-stocks-fall-further-on-economy-worries

*US Stocks Rebound From Sell-Off as Fed Rate Cut Odds Improve*
Technology and health care companies helped U.S. stocks rebound broadly from an early sell-off Thursday, snapping the market’s steep two-day skid.
By Associated Press, Wire Service Content Oct. 3, 2019, at 4:48 p.m.

By ALEX VEIGA, AP Business Writer

Technology and health care companies helped U.S. stocks rebound broadly from an early sell-off Thursday, snapping the market’s steep two-day skid.

The Dow Jones Industrial Average swung from a loss of more than 330 points to a gain of more than 120 after another disappointing economic report raised expectations among investors that the Federal Reserve will cut interest rates again to help keep the U.S. economy growing. The S&P 500 and Nasdaq also recovered from the early rout.

Traders were jolted by surprisingly slow growth in the U.S. services sector last month, the weakest in three years. That followed troubling news on business hiring and manufacturing earlier this week that knocked the market lower.

"The market is saying rate cuts are good, this data increases the likelihood of rate cuts, so maybe we overreacted a little bit in terms of selling off," said Willie Delwiche, investment strategist at Baird.

The S&P 500 index rose 23.02 points, or 0.8%, to 2,910.63. The Dow gained 122.42 points, or 0.5%, to 26,201.04. The Nasdaq, which is heavily weighted with technology stocks, climbed 87.02 points, or 1.1%, to 7,872.26. The Russell 2000 index of small-company stocks gained 6.72 points, or 0.5%, to 1,486.35.

While stock prices recovered from their early stumble, investors continued to shift money into the relative safety of U.S. bonds. That drove bond prices higher, lowering their yields. The yield on the 10-year Treasury fell to 1.54% from 1.59% late Wednesday.

Stocks are off to a turbulent start in October. The benchmark S&P 500 is down 2.2% for the month so far, wiping out all the index's gain from September.

Investors are wrestling with uncertainty about the economy, mostly due to the costly and long-running trade war between Washington and Beijing. The market slumped early Thursday after investors weighed the latest signal of U.S. economic weakness.

"The weakness this morning was really a continuation of a theme of the last couple of days: economic data disappointing and raising the specter that what had been manufacturing weakness in the U.S. was maybe becoming broader weakness,” Delwiche said.

The Institute for Supply Management, an association of purchasing managers, said that its non-manufacturing index sank to 52.6 from 56.4 in August. Readings above 50 signal growth, but September’s figures are the lowest since August 2016.

The index tracks a sector that accounts for more than two-thirds of the U.S. economy and which has been mostly resilient in the face of the U.S.-China trade war that has been squeezing American manufacturers.

On Tuesday, a private index of U.S. manufacturing output dropped to its lowest level since the recession year 2009.

The discouraging economic data this week has shifted investors’ expectations of further interest rate cuts by the Federal Reserve.

The central bank has lowered rates by a quarter-percentage point twice this year in a bid to shield the economy from slowing growth abroad and the effects of the trade war. The odds that the Fed will cut rates again at the end of this month are now running above 88%, according to the CME Group.

The latest disappointing economic report appeared to drive expectations that the Fed will lower rates in December. Markets are now pricing in a roughly 54% probability that the Fed will cut rates in December, up from about 48% a day ago.

Given the recent spate of downbeat economic data, all eyes will be on the federal government’s September job market snapshot, which is due out Friday. The Labor Department is expected to report that U.S. employers added 145,000 jobs last month, up from 130,00 in August, according to analysts polled by FactSet.

A report indicating that hiring remained solid last month would help bolster confidence that consumer spending, a key driver of the economy, remains healthy.

Solid gains by Microsoft, which climbed 1.2%, helped drive the technology sector higher Thursday. Chipmakers were among the sector’s biggest gainers. Nvidia rose 4.8% and Micron Technology added 3.5%.

Health care, communication services and industrial stocks also helped power the market rebound. Pfizer rose 2.2%, Facebook gained 2.7% and Boeing rose 1.3%.

Financial stocks lagged until the last hour of trading, weighed down by lower bond yields. Goldman Sachs fell 0.5%.

Traders bid up shares in PepsiCo 3.2% after the company told investors it expects to meet or beat its target for revenue growth in 2019. The solid forecast followed surprisingly good third quarter profit and revenue.

Tesla slid 4.2% after the electric car maker fell short of sales forecasts in the third quarter. The company delivered a record 97,000 vehicles, but still fell short of analysts’ forecasts for 99,000 vehicles.

GoPro plunged 19.2% after the camera maker cut its profit and revenue forecasts for the year because of production delays.

Benchmark crude oil fell 19 cents to settle at $52.45 a barrel. Brent crude oil, the international standard, added 2 cents to close at $57.71 a barrel. Wholesale gasoline rose 1 cent to $1.56 per gallon. Heating oil climbed 1 cent to $1.88 per gallon. Natural gas rose 8 cents to $2.33 per 1,000 cubic feet.

Gold rose $6.10 to $1,507.10 per ounce, silver was unchanged at $17.59 per ounce and copper fell 1 cent to $2.55 per pound.

The dollar fell to 106.87 Japanese yen from 107.22 yen on Wednesday. The euro strengthened to $1.0973 from $1.0958.

Major stock indexes in Europe finished mixed.


----------



## bigdog

Wall Street ended a choppy week of trading with a broad rally that drove the Dow Jones Industrial Average more than 370 points higher.

The gains Friday also gave the S&P 500 index its best day in seven weeks, though the benchmark index still finished with its third straight weekly loss.

Technology, health care and financial stocks powered much of the rally, which was spurred by mixed job market data for September. The report showed that employers are still adding jobs at a healthy clip, albeit more slowly, and that the national unemployment rate dropped to a five-decade low.

The jobs report punctuated a rough week dominated by surprisingly weak numbers in surveys of manufacturing and service industries, which raised recession worries and sent the S&P 500 to its first back-to-back losses of 1% this year.

The S&P 500 rose 41.38 points, or 1.4%, to 2,952.01. The index finished the week with a 0.3% loss.

The Dow climbed 372.68 points, or 1.4%, to 26,573.72. The Nasdaq composite gained 110.21 points, also 1.4%, to 7,982.47. The Russell 2000 index of smaller company stocks rose 14.36 points, or 1%, to 1,500.70.

Holiday in China










*Chart DOW vs AORD*





https://www.usnews.com/news/business/articles/2019-10-04/asia-stocks-mixed-after-wall-street-rebound

*US Stocks Notch Solid Gains as Job Report Allays Worries*
Wall Street ended a choppy week of trading with a broad rally that drove the Dow Jones Industrial Average more than 370 points higher.
By Associated Press, Wire Service Content Oct. 4, 2019, at 5:19 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

Wall Street ended a choppy week of trading with a broad rally that drove the Dow Jones Industrial Average more than 370 points higher.

The gains Friday also gave the S&P 500 index its best day in seven weeks, though the benchmark index still finished with its third straight weekly loss.

Technology, health care and financial stocks powered much of the rally, which was spurred by mixed job market data for September. The report showed that employers are still adding jobs at a healthy clip, albeit more slowly, and that the national unemployment rate dropped to a five-decade low.

The jobs report punctuated a rough week dominated by surprisingly weak numbers in surveys of manufacturing and service industries, which raised recession worries and sent the S&P 500 to its first back-to-back losses of 1% this year.

"There's probably some relief this morning that the labor report didn't confirm or enhance the weakness that we saw out of the two (economic) surveys," said Bill Northey, senior investment director at U.S. Bank Wealth Management.

The S&P 500 rose 41.38 points, or 1.4%, to 2,952.01. The index finished the week with a 0.3% loss.

The Dow climbed 372.68 points, or 1.4%, to 26,573.72. The Nasdaq composite gained 110.21 points, also 1.4%, to 7,982.47. The Russell 2000 index of smaller company stocks rose 14.36 points, or 1%, to 1,500.70.

Stock markets around the world rose and gold dipped following the release of the U.S. jobs data as investors felt less need for safety.

The Labor Department said employers added 136,000 jobs last month, slightly less than the 145,000 that economists were expecting and below the 168,000 pace from August. Worker's wages were also weaker than expected, with zero growth from a month before.

On the encouraging side, the government said hiring in prior months was stronger than earlier estimated, and the unemployment rate dropped to 3.5% from 3.7%.

"While the bears may take this as a further confirmation of a slower economy, it is actually a pretty strong read, especially when you factor in previous revisions" said Mike Loewengart, vice president of investment strategy at ETrade Financial.

If the job market can remain strong, it would allow U.S. households to keep spending. And that spending strength has been the hero for the economy recently, propping it up when slowing growth abroad poses a threat and President Donald Trump's trade war with China saps exports and manufacturing.

Anticipation built through the week for the jobs report as a parade of weak data on the economy shook markets around the world. Manufacturing contracted last month at its sharpest pace in a decade, and growth in the nation's services sector slowed.

Friday's mixed report shows a jobs market that is slowing but still growing, and economists said it could signal that a rate cut at the Fed's meeting later this month is no longer a slam dunk. The central bank has already cut rates twice this year to shield the economy from the effects of slowing growth abroad and the U.S.-China trade war.

The yield on the 10-year Treasury held steady at 1.53%. The two-year yield, which moves more on expectations about what the Fed will do, rose to 1.40% from 1.37%.

The world's two largest economies are set to talk again next week about trade. Markets have been quick to swing on any hint of movement in their dispute, which has dragged on manufacturing around the world and pushed CEOs to delay investments given all the uncertainty.

"What market participants will be looking for is really what is the next trajectory?" Northey said. "Is it getting worse? Is it getting better? Is it status quo?"

The odds of Washington and Beijing hammering out a substantive deal in the near term are very low, he added.

"An agreement to continue to negotiate toward a mutually acceptable future endpoint is really what would be viewed as a success," Northey said.

Technology, health care, financial and communication services stocks accounted for much of the market's gains Friday. Visa rose 1.8%, UnitedHealth Group gained 2.1%, Citigroup added 2.2% and Google parent Alphabet picked up 1.8%.

Apple helped drive the market higher, rising 2.8%. A Japanese newspaper, Nikkei, said that the company asked suppliers to ramp up production of its iPhone 11. Moves in Apple's stock have an outsized effect on the S&P 500 because it's the second-largest constituent in the index by market size.

HP slumped 9.6% after the maker of personal computers and printers announced jobs cuts of up to 16% of the company's payroll.

Crude oil recovered from an early slide to close with a modest gain. Still, it ended the week with a loss of 5.3%, reflecting worries about weakening demand and growing supplies.

Benchmark U.S. crude rose 36 cents to settle at $52.81 per barrel. It started the week at $55.91. Brent crude, the international standard, gained 66 cents to close at $58.37 per barrel.

Wholesale gasoline rose 1 cent to $1.57 per gallon. Heating oil climbed 1 cent to $1.89 per gallon. Natural gas rose 2 cents to $2.35 per 1,000 cubic feet.

Gold fell 90 cents to $1,506.20 per ounce, silver fell 5 cents to $17.54 per ounce and copper rose 1 cent to $2.56 per pound.

The dollar was unchanged at 106.87 Japanese yen from the yen on Thursday. The euro strengthened to $1.0984 from $1.0973.

Major European stock indexes finished higher.

7175


----------



## bigdog

A day of choppy trading on Wall Street ended Monday with stocks broadly lower as the market extended its losing streak into a fourth week.

Technology stocks, consumer goods makers, health care companies and banks accounted for much of the selling, which accelerated in the last hour of trading, erasing modest gains from midday. Communication services stocks eked out a slight gain, bucking the broader market slide. Crude oil prices edged lower and bond yields rose.

The market is coming off a three-week skid following a mostly discouraging batch of economic data that stoked investors' worries that a slowdown in U.S. economic growth could worsen.

The combination of uncertainty over the costly trade war between the U.S. and China, and the impeachment inquiry drama unfolding in Washington, is likely to continue to drag on the economy and weigh on markets, said Tony Roth, chief investment officer at Wilmington Trust.

The S&P 500 fell 13.22 points, or 0.4%, at 2,938.79. The Dow Jones Industrial Average slid 95.70 points, or 0.4%, to 26,478.02. The Nasdaq dropped 26.18 points, or 0.3%, to 7,956.29.

Chinese markets are due to reopen on Tuesday after a week long break.

According to the latest SPI futures, the ASX 200 is poised to rise 24 points or 0.4% at the open.











https://www.usnews.com/news/busines...es-mixed-on-us-jobs-eyes-on-china-trade-talks

*Major US Stock Indexes Veer Broadly Lower in Choppy Trading*
A day of choppy trading on Wall Street ended Monday with stocks broadly lower as the market extended its losing streak into a fourth week.
By Associated Press, Wire Service Content Oct. 7, 2019, at 4:43 p.m. 

By ALEX VEIGA, AP Business Writer

A day of choppy trading on Wall Street ended Monday with stocks broadly lower as the market extended its losing streak into a fourth week.

Technology stocks, consumer goods makers, health care companies and banks accounted for much of the selling, which accelerated in the last hour of trading, erasing modest gains from midday. Communication services stocks eked out a slight gain, bucking the broader market slide. Crude oil prices edged lower and bond yields rose.

The market is coming off a three-week skid following a mostly discouraging batch of economic data that stoked investors' worries that a slowdown in U.S. economic growth could worsen.

The combination of uncertainty over the costly trade war between the U.S. and China, and the impeachment inquiry drama unfolding in Washington, is likely to continue to drag on the economy and weigh on markets, said Tony Roth, chief investment officer at Wilmington Trust.

"And that's why the markets are treading water right now, waiting to see if another shoe drops," Roth said.

The S&P 500 fell 13.22 points, or 0.4%, at 2,938.79. The Dow Jones Industrial Average slid 95.70 points, or 0.4%, to 26,478.02. The Nasdaq dropped 26.18 points, or 0.3%, to 7,956.29.

Smaller-company stocks fared slightly better than the rest of the market. The Russell 2000 index slipped 2.91 points, or 0.2%, to 1,497.79.

Bond prices fell, pushing the yield on the 10-year Treasury rose to 1.56% from 1.51% late Friday.

The benchmark S&P 500 index began the day lower, picked up some gains around midday and then veered back into the red by late afternoon.

The wobbly day in the market reflects the cautious approach that investors are taking as they try to gauge how the economy and corporate profits will fare amid the lingering trade war and political uncertainty in Washington.

Last week, the S&P 500 posted its first back-to-back losses of 1% this year as surprisingly weak numbers in surveys of manufacturing and service industries showed the U.S.-China trade war is threatening U.S. economic growth.

Some of those fears were allayed on Friday when a government jobs report showed that employers are still adding jobs at a healthy clip and that the national unemployment rate dropped to a five-decade low.

Still, last week marked the third weekly loss in a row for the broader market as the trade war takes its toll on confidence. Markets have been whipsawed for months by the ups and downs in the dispute.

"Labor has held up fairly OK, but we're definitely decelerating from an economic standpoint, so corporate earnings may reflect that negatively," Roth said. "The biggest drivers of the market are going to be who controls policy in Washington and what the specifics are around the Chinese trade situation."

Envoys from Washington and Beijing are scheduled to meet later this week in their latest bid to put an end to the dispute that is stunting global economic growth and spooking the stock market.

Broadcom led the slide in technology stocks Monday, dropping 1.9%.

Beverage companies fell amid a sell-off in consumer product makers. Constellation Brands slid 2.6% and PepsiCo fell 1.4%. Coca-Cola lost 1.2%.

Several big drugmakers helped pull health care sector stocks lower. Abbott Laboratories gave up 1.2% and Merck & Co. slid 0.7%.

Financial sector stocks also declined, giving up early gains. Progressive dropped 1.5%.

Discovery led the gains in the communication services sector. The stock rose 1.4%.

Fox inched up 0.1% after the company settled a dispute with Dish Network over carriage of Fox's local TV stations and cable sports networks. Dish pulled the broadcast network from 17 markets in September. Shares in Dish gained 0.2%.

ConocoPhillips climbed 2.1% after the energy company raised its quarterly dividend by 38% and will buy back $3 billion of its stock in 2020.

General Motors fell 0.5%. The stock has lost nearly 10% of its value since contract negotiations with the now striking United Auto Workers started to falter. The situation has taken another bad turn as negotiations hit a snag over product commitments for U.S. factories.

Workers were warned by United Auto Workers vice president Terry Dittes on September 6 that bargaining was moving slowly. They moved to picket lines on September 16, crippling the company's factories and accelerating stock losses.

Despite the labor issues, General Motor's stock is still up 3.8% for the year, though that is far behind competitor Ford's 13.7% annual gain.

Benchmark crude oil fell 6 cents to settle at $52.75 a barrel. Brent crude oil, the international standard, slipped 2 cents to close at $58.35 a barrel. Wholesale gasoline was unchanged at $1.57 per gallon. Heating oil climbed 1 cent to $1.90 per gallon. Natural gas fell 5 cents to $2.30 per 1,000 cubic feet.

Gold fell $8.50 to $1,497.70 per ounce, silver fell 8 cents to $17.46 per ounce and copper rose 1 cent to $2.57 per pound.

The dollar rose to 107.28 Japanese yen from 106.87 yen on Friday. The euro weakened to $1.0973 from $1.0984.

Major stock indexes in Europe closed broadly higher. Stocks in Asia ended mixed. Chinese markets are due to reopen on Tuesday after a week long break.


----------



## bigdog

Stocks closed broadly lower on Wall Street Tuesday as tensions between the U.S. and China flared ahead of negotiations aimed at resolving the costly trade war between the world's two biggest economies.

The sell-off, which accelerated in the last hour of regular trading, knocked more than 300 points off the Dow Jones Industrial Average. Technology companies, banks and health care stocks bore the brunt of the selling, which stretched the market's losses further into a fourth week.

The market slide began after the U.S. blacklisted a group of Chinese companies, claiming that their technology plays a role in the repression of China's Muslim minority groups. The State Department also imposed restrictions on visas for Chinese officials.

The moves cast more doubt on whether Washington and Beijing will find a resolution to their long-running and economically damaging trade conflict. Envoys from the U.S. and China are scheduled to meet in Washington on Thursday for another round of trade talks.

Technology stocks were among the biggest losers as chipmakers absorbed the impact of the latest U.S. restrictions on sales to Chinese tech companies that develop facial recognition and other artificial intelligence technology.

The S&P 500 index lost 45.73 points, or 1.6%, to 2,893.06. The Dow slid 313.98 points, or 1.2%, to 26,164.04. The Nasdaq, which is heavily weighted with technology companies, dropped 132.52 points, or 1.7%, to 7,823.78.

The S&P/ASX 200 index looks set to sink lower this morning following a bleak night of trade on Wall Street. According to the latest SPI futures, the benchmark index is expected to fall 64 points or 1% at the open.










https://www.usnews.com/news/busines...shares-rise-despite-worries-on-us-china-talks

*Stocks Skid as Tensions Flare Ahead of US-China Trade Talks*
Stocks closed broadly lower on Wall Street Tuesday as tensions between the U.S. and China flared ahead of talks aimed at resolving the trade war between the world's two biggest economies.
By Associated Press, Wire Service Content Oct. 8, 2019, at 4:50 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks closed broadly lower on Wall Street Tuesday as tensions between the U.S. and China flared ahead of negotiations aimed at resolving the costly trade war between the world's two biggest economies.

The sell-off, which accelerated in the last hour of regular trading, knocked more than 300 points off the Dow Jones Industrial Average. Technology companies, banks and health care stocks bore the brunt of the selling, which stretched the market's losses further into a fourth week.

The market slide began after the U.S. blacklisted a group of Chinese companies, claiming that their technology plays a role in the repression of China's Muslim minority groups. The State Department also imposed restrictions on visas for Chinese officials.

The moves cast more doubt on whether Washington and Beijing will find a resolution to their long-running and economically damaging trade conflict. Envoys from the U.S. and China are scheduled to meet in Washington on Thursday for another round of trade talks.

"The rhetoric on both sides, whether it's the U.S. putting certain Chinese technology companies on a blacklist, or China vowing to retaliate with a 'stay tuned', it just keeps upping the temperature in the room and creating greater uncertainty for businesses, for consumers and for investors," said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

The S&P 500 index lost 45.73 points, or 1.6%, to 2,893.06. The Dow slid 313.98 points, or 1.2%, to 26,164.04. The Nasdaq, which is heavily weighted with technology companies, dropped 132.52 points, or 1.7%, to 7,823.78.

Smaller company stocks were also big decliners, sending the Russell 2000 index down 25.19 points, or 1.7%, to 1,472.60.

The yield on the 10-year Treasury fell to 1.53% from 1.55% late Monday, a signal that investors favored lower-risk investments amid the trade war turmoil. Utilities and real estate companies, both safe-play sectors, held up better than the rest of the market, though they also ended the day in the red.

The latest escalation in U.S.-China tensions adds yet another worry for investors already anxious over a bevy of political and economic concerns. Last week, the S&P 500 posted its first back-to-back losses of 1% this year as surprisingly weak numbers in surveys of manufacturing and service industries showed the U.S.-China trade war is threatening U.S. economic growth.

The Trump administration's moves to blacklist select Chinese companies and restrict visas on certain officials dampened investors' hopes that the negotiations this week will yield progress.

"The jockeying for position in front of the Thursday and Friday meetings in Washington has intensified perhaps more than the market could have imagined," said Julian Emanuel, chief equity and derivatives strategist at BTIG.

Technology stocks were among the biggest losers as chipmakers absorbed the impact of the latest U.S. restrictions on sales to Chinese tech companies that develop facial recognition and other artificial intelligence technology. Ambarella tumbled 9.5% and Nvidia fell 3.9%.

The sector has shouldered much of the volatility from swings in trade war sentiment because many of the companies face bigger risks to sales and supply chains.

Several medical device makers knocked down health care stocks. Thermo Fisher fell 6% and Boston Scientific slid 6.1%. Banks also dropped as bond yields fell. Bank of America lost 2.4%.

Benchmark crude oil fell 12 cents to settle at $52.63 a barrel. Brent crude oil, the international standard, slid 11 cents to close at $58.24 a barrel.

While the price of U.S. crude is up just under 9% so far this year, it remains off by more than 27% from a year ago. That slide in prices over the past 12 months has weighed on energy stocks this year.

Energy is the biggest loser among the S&P 500's 11 sectors. It's down 2.8% for the year and 27.8% over the past 12 months. It's also the worst-performing sector so far this month.

The stocks are likely to get hammered again when energy companies report their third-quarter results later this month. The sector is expected to report a nearly 10% drop in revenue for the third quarter due to a 19% decline in crude oil prices from a year ago, according to Credit Suisse analyst Jonathan Golub.

The analyst expects the sector to reduce earnings growth for the S&P 500 by 1.9% for the third quarter.

Wwholesale gasoline rose a penny to $1.58 per gallon. Heating oil added 1 cent to $1.91 per gallon. Natural gas fell 2 cents to $2.29 per 1,000 cubic feet.

Gold slipped 50 cents to $1,503.90 per ounce, silver rose 16 cents to $17.70 per ounce and copper was little changed at $2.57 per pound.

The dollar fell to 107.14 Japanese yen from 107.28 yen on Monday. The euro weakened to $1.0954 from $1.0973.

Major stock indexes in Europe finished broadly lower after the British government warned that chances of a separation deal with the European Union are fading.


----------



## bigdog

Stocks notched broad gains Wednesday on Wall Street as investors regained some of their optimism about the prospects for progress in the trade war between the U.S. and China.

A day after escalating trade tensions led to a sharp sell-off, investors drew encouragement from reports that Beijing signaled it is open to a partial deal. Washington and Beijing are scheduled to begin a 13th round of trade negotiations on Thursday.

Technology stocks led the rally, which erased some of the market's sharp losses from the day before and snapped a two-day losing streak for the S&P 500. The benchmark index is still on track to end the week with a 1.1% loss.

The major U.S. stock indexes rebounded from the get-go on Wednesday as traders turned more hopeful about the upcoming U.S.-China trade negotiations.

The S&P 500 rose 26.34 points, or 0.9%, to 2,919.40. The Dow Jones Industrial Average gained 181.97 points, or 0.7%, to 26,346.01. The Nasdaq picked up 79.96 points, or 1%, to 7,903.74. The Russell 2000 index of smaller company stocks added 6.86 points, or 0.5%, to 1,479.46.

According to the latest SPI futures, the ASX 200 is poised to open 43 points or 0.65% higher this morning.









https://www.usnews.com/news/busines...-slip-as-tensions-flare-before-us-china-talks

*US Stocks Notch Broad Gains Amid Renewed Trade Deal Hopes*
Stocks notched broad gains on Wall Street Wednesday as investors regained some of their optimism about the prospects for progress in the trade war between the U.S. and China.
By Associated Press, Wire Service Content Oct. 9, 2019, at 4:48 p.m.

By ALEX VEIGA, AP Business Writer

Stocks notched broad gains Wednesday on Wall Street as investors regained some of their optimism about the prospects for progress in the trade war between the U.S. and China.

A day after escalating trade tensions led to a sharp sell-off, investors drew encouragement from reports that Beijing signaled it is open to a partial deal. Washington and Beijing are scheduled to begin a 13th round of trade negotiations on Thursday.

Technology stocks led the rally, which erased some of the market's sharp losses from the day before and snapped a two-day losing streak for the S&P 500. The benchmark index is still on track to end the week with a 1.1% loss.

"Whichever way the trade winds tend to be blowing is the way the market tends to direct itself," said Sam Stovall, chief investment strategist, CFRA. "Yesterday it was a worry that we would not really have any kind of success coming out of the upcoming trade talks. Now it sounds as if China would be willing to engage in some piecemeal accords."

The S&P 500 rose 26.34 points, or 0.9%, to 2,919.40. The Dow Jones Industrial Average gained 181.97 points, or 0.7%, to 26,346.01. The Nasdaq picked up 79.96 points, or 1%, to 7,903.74. The Russell 2000 index of smaller company stocks added 6.86 points, or 0.5%, to 1,479.46.

Bond yields rose, reflecting the move by investors to shift into higher-risk assets. The yield on the 10-year Treasury increased to 1.58% from 1.53% late Tuesday.

The major U.S. stock indexes rebounded from the get-go on Wednesday as traders turned more hopeful about the upcoming U.S.-China trade negotiations.

Washington and Beijing had held off from further escalating the conflict up until this week, when the U.S. blacklisted a group of Chinese technology companies over alleged human rights violations. The prospect of China being more open to a partial deal on trade helped allay investors' concerns Wednesday.

The trade war between the U.S. and China has dragged on for 15 months, inflicting economic damage on both countries. The two sides have raised import duties on billions of dollars of each other's goods, fueling fears their dispute might tip the global economy into recession.

All told, the Trump administration has imposed tariffs on more than $360 billion worth of Chinese goods and plans to tax an additional $160 billion of imports on Dec. 15. This would extend U.S. tariffs to just about everything China ships to the United States. China has counterpunched by taxing $120 billion in U.S. exports, notably soybeans and other farm goods.

Investors are hoping for some type of resolution as the 13th round of trade talks resume Thursday in Washington.

"Our base case, to which we assign a 50% probability, is for only modest progress in this round of talks," said Mark Haefele, chief investment officer at UBS Global Wealth Management. "Modest progress averts further escalation while failing to resolve conflicts over intellectual property and subsidies."

The sharp shifts in trade war rhetoric and actions have made for an extremely volatile market over the last few months. Despite the gains Wednesday, stocks are still on track for their fourth weekly loss in a row as uncertainty hangs over the markets.

Technology sector stocks led the gains Wednesday. The sector has been suffering most of the week because of uncertainty over the talks. Many of the companies rely on China for revenue and their supply chains. Microsoft rose 1.9% and Apple added 1.2%.

The health care sector also helped lift the market, along with energy stocks and companies that rely on consumer spending. Real estate companies and utilities lagged the market in a sign that investors were less interested in safe-play sectors.

Johnson & Johnson was among the biggest decliners in the S&P 500 after the health care company was ordered to pay $8 billion in punitive damages by a Philadelphia jury in a case involving the antipsychotic drug Risperdal. The stock lost 2.6%.

Next week, companies begin reporting their results for the third quarter. Expectations are generally low again, with analysts forecasting a drop of 4.1% from a year ago. The results, plus what CEOs say about their spending and revenue forecasts, should give a better picture of the economy's potential direction.

Benchmark crude oil fell 4 cents to settle at $52.59 a barrel. Brent crude oil, the international standard, rose 8 cents to close at $58.32 a barrel. Wholesale gasoline rose 1 cent to $1.59 per gallon. Heating oil climbed 1 cent to $1.92 per gallon. Natural gas fell 6 cents to $2.23 per 1,000 cubic feet.

Gold rose $8.90 to $1,506.10 per ounce, silver rose 3 cents to $17.73 per ounce and copper fell 1 cent to $2.56 per pound.

The dollar rose to 107.55 Japanese yen from 107.14 yen on Tuesday. The euro strengthened to $1.0974 from $1.0954.

Major stock indexes in Europe closed broadly higher. Stocks in Asia finished mixed.


----------



## bigdog

Stocks closed broadly higher on Wall Street for the second straight day Thursday as the U.S. and China kicked off a new round of negotiations in their long-running trade war.

Technology companies and banks led the rally as investors turned hopeful that the 13th round of trade talks will bring both sides closer to ending the costly conflict between the world's two biggest economies.

Traders were encouraged after President Donald Trump said he would meet with Chinese Vice Premier Liu He, who is leading Beijing's negotiating team, at the White House on Friday. He also said China wants to make a deal.

"It's really good that Trump is meeting him, because that increases the odds that some type of positive news may happen tomorrow," said Brad Bernstein, senior portfolio manager at UBS Global Wealth Management.

The S&P 500 rose 18.73 points, or 0.6%, to 2,938.13. The benchmark index had been up about 1% earlier in the day. The Dow Jones Industrial Average gained 150.66 points, or 0.6%, to 26,496.67. It had been up as much as 257 points.

The Nasdaq added 47.04 points, or 0.6%, to 7,950.78. The Russell 2000 index of smaller companies picked up 5.90 points, or 0.4%, to 1,485.36.

According to the latest SPI futures, the ASX 200 is poised to open the day 0.65% or 42 points higher this morning.










https://www.usnews.com/news/busines...s-mostly-higher-amid-renewed-trade-deal-hopes

*Stocks Climb for 2nd Straight Day on US-China Trade Optimism*
Stocks closed broadly higher on Wall Street for the second straight day Thursday as the U.S. and China kicked off a new round of negotiations in their long-running trade war.
By Associated Press, Wire Service Content Oct. 10, 2019, at 4:43 p.m.

By ALEX VEIGA, AP Business Writer

Stocks closed broadly higher on Wall Street for the second straight day Thursday as the U.S. and China kicked off a new round of negotiations in their long-running trade war.

Technology companies and banks led the rally as investors turned hopeful that the 13th round of trade talks will bring both sides closer to ending the costly conflict between the world's two biggest economies.

Traders were encouraged after President Donald Trump said he would meet with Chinese Vice Premier Liu He, who is leading Beijing's negotiating team, at the White House on Friday. He also said China wants to make a deal.

"It's really good that Trump is meeting him, because that increases the odds that some type of positive news may happen tomorrow," said Brad Bernstein, senior portfolio manager at UBS Global Wealth Management.

The S&P 500 rose 18.73 points, or 0.6%, to 2,938.13. The benchmark index had been up about 1% earlier in the day. The Dow Jones Industrial Average gained 150.66 points, or 0.6%, to 26,496.67. It had been up as much as 257 points.

The Nasdaq added 47.04 points, or 0.6%, to 7,950.78. The Russell 2000 index of smaller companies picked up 5.90 points, or 0.4%, to 1,485.36.

Major indexes in Europe closed broadly higher. Asian markets finished mixed.

Thursday's rally extended the S&P 500's gains from the day before, though the index remains on track for its fourth-straight weekly loss.

Markets have been jittery this week as investors assessed the potential for a breakthrough in the trade talks even as tensions escalated between Washington and Beijing. The U.S. blacklisted a group of Chinese technology companies over alleged human rights violations earlier this week. Meanwhile, China has clashed with the NBA and U.S. companies over free-speech issues.

The trade war has dragged on for 15 months, inflicting economic damage on both countries and raising fears of a global recession.

The Trump administration has slapped tariffs on more than $360 billion worth of Chinese imports. Tariffs on $250 billion worth of goods are set to increase to 30% from 25% on Oct. 15, and new tariffs will kick in on another $160 billion on Dec. 15. That would extend import taxes to virtually everything China ships to the United States. China has hit back by targeting about $120 billion in U.S. goods, focusing on farm products.

While representatives of both countries have failed to make progress in resolving the trade conflict, there is more pressure this time for them to reach some type of agreement, even if it's merely to keep additional tariffs from kicking in, Bernstein said.

"The stakes are higher now than they've been in most, if not all, of the recent negotiations, because there are tariffs that are scheduled to increase in five days on China, which will directly impact you and me, and the economy and the world," he said.

Thursday's gains helped the S&P 500 cut its losses after a volatile week of trading. The index is now down 0.5% for the week. On Wednesday it had been on track for 1.1% weekly loss.

Despite also recovering some lost ground, the Dow and Nasdaq are still on track to finish the week in the red.

Technology stocks helped lift the market Thursday. The sector is particularly sensitive to any news coming out of trade negotiations because many of the companies rely on China for sales growth and supply chains. Apple gained 1.3%. Chipmakers also rose. Intel added 1.2% and Nvidia picked up 1.3%.

Several big banks notched solid gains, including Bank of America, which climbed 2%. Banks benefited from rising bond yields, which allow banks to charge higher interest rates on loans. The yield on the 10-year Treasury rose to 1.67% from 1.58% late Wednesday, a big move.

Energy companies got a boost from a 1.8% increase in crude oil prices. Chevron rose 1.3%.

Safe-play sectors like real estate and utilities lagged the market.

Bed Bath & Beyond surged 21.6% after the struggling home goods chain named Target's former chief merchandising officer to be its new CEO and president. Mark Tritton, a 30-year-retail industry veteran, will assume the top role on Nov. 4 and succeed interim CEO Mary A. Winston.

Delta Air Lines fell 1.5% after the company gave investors a weak profit forecast for the fourth quarter. The fourth quarter is among the busiest for U.S. airlines because of holiday travelers. The dim outlook didn't weigh on other major airlines. JetBlue airways added 0.9% and United Airlines rose 1%.

Benchmark crude oil rose 96 cents to settle at $53.55 a barrel. Brent crude oil, the international standard, gained 78 cents to close at $59.10 a barrel. Wholesale gasoline rose 3 cents to $1.62 per gallon. Heating oil was unchanged at $1.92 per gallon. Natural gas fell 1 cent to $2.22 per 1,000 cubic feet.

Gold fell $11.30 to $1.494.80 per ounce, silver fell 21 cents to $17.52 per ounce and copper rose 5 cents to $2.61 per pound.

The dollar rose to 107.91 Japanese yen from 107.55 yen on Wednesday. The euro strengthened to $1.1006 from $1.0974.


----------



## bigdog

The S&P 500 finished with its first weekly gain in four weeks Friday as investors welcomed a thaw in the punishing trade war between the U.S. and China.

After two days of negotiations in Washington, the U.S. agreed to suspend a planned hike in tariffs on $250 billion of Chinese goods that had been set to kick in Tuesday. Beijing, meanwhile, agreed to buy $40 billion to $50 billion in U.S. farm products.

Word of the trade concessions filtered out in the last half-hour of trading and pushed the Dow Jones Industrial Average 517 points higher, though the momentum faded near the close.

"The market is welcoming any progress here, because (trade) has been the biggest overhang on growth," said Ben Phillips, chief investment officer at EventShares. "Any sort of deal, even if it's a super light, mini-deal, still gets the market constructive and saying, 'OK, we're moving in the right direction.'"

The S&P 500 index closed higher for the third-straight day, adding 32.14 points, or 1.1%, to 2,970.27. Earlier it had been up 1.9%. The Dow rose 319.92 points, or 1.2%, to 26,816.59.

The Nasdaq gained 106.26 points, or 1.3%, to 8,057.04. The Russell 2000 index of smaller company stocks outpaced the broader market, climbing 26.54, or 1.8%, to 1,511.90. The indexes all notched gains for the week.











*Chart DOW vs AORD*





https://www.usnews.com/news/busines...s-follow-wall-street-higher-on-trade-optimism

*Stocks Rise on Trade Progress, S&P 500 Notches Weekly Gain*
The S&P 500 finished with its first weekly gain in four weeks Friday as investors welcomed a thaw in the punishing trade war between the U.S. and China.
By Associated Press, Wire Service Content Oct. 11, 2019, at 5:19 p.m.

By ALEX VEIGA and STAN CHOE, AP Business Writers

The S&P 500 finished with its first weekly gain in four weeks Friday as investors welcomed a thaw in the punishing trade war between the U.S. and China.

After two days of negotiations in Washington, the U.S. agreed to suspend a planned hike in tariffs on $250 billion of Chinese goods that had been set to kick in Tuesday. Beijing, meanwhile, agreed to buy $40 billion to $50 billion in U.S. farm products.

Word of the trade concessions filtered out in the last half-hour of trading and pushed the Dow Jones Industrial Average 517 points higher, though the momentum faded near the close.

"The market is welcoming any progress here, because (trade) has been the biggest overhang on growth," said Ben Phillips, chief investment officer at EventShares. "Any sort of deal, even if it's a super light, mini-deal, still gets the market constructive and saying, 'OK, we're moving in the right direction.'"

The S&P 500 index closed higher for the third-straight day, adding 32.14 points, or 1.1%, to 2,970.27. Earlier it had been up 1.9%. The Dow rose 319.92 points, or 1.2%, to 26,816.59.

The Nasdaq gained 106.26 points, or 1.3%, to 8,057.04. The Russell 2000 index of smaller company stocks outpaced the broader market, climbing 26.54, or 1.8%, to 1,511.90. The indexes all notched gains for the week.

Treasury yields rose as investors felt less need for safety and dumped bonds. The yield on the 10-year Treasury, a benchmark for mortgages and many other kinds of loans, jumped to 1.73% from 1.65% late Thursday.

The rally got going early, reflecting optimism among investors that Washington and Beijing would reach at least a limited deal on trade. The U.S.-China trade dispute has been a drag on economic growth and slowed manufacturing around the world.

Investors got encouragement from President Donald Trump, who said "Good things are happening," before meeting with Chinese Vice Premier Liu He for trade talks at the White House.

Later in the day, after emerging from the meeting to announce the partial trade deal, Trump told the Chinese delegation "You're very tough negotiators."

The White House said the two sides made some progress on the thornier issues, including China's lax protection of foreign intellectual property. But more progress will have to be made on key differences in later negotiations, including U.S. allegations that China forces foreign countries to hand over trade secrets in return for access to the Chinese market.

Markets around the world have swung sharply on every morsel of progress or dissonance dribbling out about the U.S.-China trade war.

The concessions agreed upon by the U.S. and China Friday mark a sharp turnaround after expectations were lowered earlier in the week when the U.S. blacklisted a group of Chinese technology companies over alleged human rights violations.

The Trump administration has already raised tariffs on more than $360 billion worth of Chinese imports, but the stakes were set to rise. The U.S. had planned to raise tariffs on $250 billion in Chinese imports from 25% to 30% Tuesday. Those are now suspended. But the two sides did not mention tariffs on $160 billion of goods scheduled for Dec. 15.

Technology stocks, which often do lots of business with China, helped power the indexes higher Friday. Apple climbed 2.7%, and edged ahead of Microsoft as the most valuable company in the S&P 500. Broadcom added 2.4%.

Industrial stocks also notched solid gains. Caterpillar climbed 4.7% and farm equipment maker Deere gain 1.9%.

The jump in bond yields helped send bank stocks higher on expectations of bigger profits for making loans. JPMorgan Chase rose 1.7%, and Bank of America gained 1.6%.

Stocks jumped across Europe on hopes that the United Kingdom and European Union can reach a trade deal ahead of London's pending exit from the bloc. The German DAX surged 2.9%, while the CAC 40 in France jumped 1.7%. The FTSE 100 in London rose 0.8%, held back in part by a stronger British pound, which adds pressure on British exporters.

A missile strike on an Iranian tanker revived concerns about oil supplies and pushed energy prices higher. The explosion follows other attacks earlier this year on tankers in the Persian Gulf, through which about 20% of all oil traded worldwide passes.

Benchmark crude oil rose $1.15 to settle at $54.70 a barrel. Brent crude oil, the international standard, gained $1.41 to close at $60.51 a barrel. The rise in energy prices lifted oil and energy services companies. Exxon rose 1.1% and Schlumberger climbed 4.5%.

Fastenal surged 17.2% after the maker of fasteners and other industrial products reported surprisingly good first quarter profit and revenue. The company reported solid growth from its industrial vending and onsite services businesses.

Newmont Goldcorp was among the biggest decliners in the S&P 500 after gold prices fell $12.10, or 0.8%, to $1,482.70 per ounce, as investors shifted to more risky holdings. Newmont shares slid 3.4%.

Investors will be focusing on the health of Corporate America next week as companies begin reporting their results for the third quarter. Expectations are generally low, with analysts forecasting a drop of 4.1% from a year ago. The results, plus what CEOs say about their spending and revenue forecasts, should give a better picture of the economy's potential direction.

"You're going to see a little soft earnings (results) this quarter, is our expectation, largely on the manufacturing and global companies, but also a little softness on services," Phillips said.

In other commodities trading Friday, wholesale gasoline rose 2 cents to $1.64 per gallon. Heating oil climbed 4 cents to $1.96 per gallon. Natural gas fell 1 cent to $2.21 per 1,000 cubic feet.

Silver fell 6 cents to $17.46 per ounce and copper rose 1 cent to $2.62 per pound.

The dollar rose to 108.52 Japanese yen from 107.91 yen on Thursday. The euro strengthened to $1.1041 from $1.1006.

7470


----------



## bigdog

Stocks capped a wobbly day of trading on Wall Street with modest losses Monday, a shaky start to the week for the market after its first weekly gain in a month.

Losses in consumer goods makers, utilities and technology stocks helped outweigh gains in banks and real estate companies. A 2% drop in crude oil prices also hurt energy stocks.

Trading was choppy for much of the day after falling in the early going. The muted trading wiped out some of the gains from a rally on Friday, when investors welcomed signs of progress in the latest round of trade negotiations between the U.S. and China.

Washington and Beijing agreed to a truce, with the U.S. holding off on tariffs set to kick in this week and China agreeing to buy more farm goods. But the U.S. has yet to cancel plans for more tariffs in December and the nations still have several complicated issues to negotiate, which may have dimmed some of the optimism about a broader trade deal.

The S&P 500 index slipped 4.12 points, or 0.1%, to 2,966.15. The Dow Jones Industrial Average dropped 29.23 points, or 0.1%, to 26,787.36. The Nasdaq gave up 8.39 points, or 0.1%, to 8,048.65.

According to the latest SPI futures, the ASX 200 is poised to fall 21 points or 0.3% at the open.










https://www.usnews.com/news/busines...gain-after-us-china-announce-truce-on-tariffs

*Stocks Close Slightly Lower After Choppy Day on Wall Street*
Stocks capped a wobbly day of trading on Wall Street with modest losses Monday, a shaky start to the week for the market after its first weekly gain in a month.
By Associated Press, Wire Service Content Oct. 14, 2019, at 4:58 p.m.

By ALEX VEIGA, AP Business Writer

Stocks capped a wobbly day of trading on Wall Street with modest losses Monday, a shaky start to the week for the market after its first weekly gain in a month.

Losses in consumer goods makers, utilities and technology stocks helped outweigh gains in banks and real estate companies. A 2% drop in crude oil prices also hurt energy stocks.

Trading was choppy for much of the day after falling in the early going. The muted trading wiped out some of the gains from a rally on Friday, when investors welcomed signs of progress in the latest round of trade negotiations between the U.S. and China.

Washington and Beijing agreed to a truce, with the U.S. holding off on tariffs set to kick in this week and China agreeing to buy more farm goods. But the U.S. has yet to cancel plans for more tariffs in December and the nations still have several complicated issues to negotiate, which may have dimmed some of the optimism about a broader trade deal.

"We kind of peeled back the layers and said, 'Hey, was this really a significant trade deal, or was it just a little bit of window dressing to make everybody feel like there was actually a trade deal?'" said Karyn Cavanaugh, senior markets strategist at Voya Investment Management. "The market is digesting that."

The S&P 500 index slipped 4.12 points, or 0.1%, to 2,966.15. The Dow Jones Industrial Average dropped 29.23 points, or 0.1%, to 26,787.36. The Nasdaq gave up 8.39 points, or 0.1%, to 8,048.65.

Small-company stocks did worse than the rest of the market. The Russell 2000 index lost 6.47 points, or 0.4%, to 1,505.43.

Bond markets and the U.S. government were closed for the Columbus Day holiday.

Stocks opened broadly lower Monday, but trading soon turned choppy, leaving the market veering between small gains and losses the rest of the day.

The modest pullback followed last week's market rally, when investors applauded the progress made by the U.S. and China following two days of negotiations.

The U.S. agreed to suspend a planned hike in tariffs on $250 billion of Chinese goods that had been set to kick in Tuesday. Beijing, meanwhile, agreed to buy $40 billion to $50 billion in U.S. farm products.

The truce was a result of the 13th round of negotiations between the nations since the trade war began well over a year ago.

But the key sticking points of intellectual property and trade secrets still hang over the dispute. And the overall picture hasn't changed for companies, which are still holding off on forecasts and investments because of the uncertain trade situation.

"There is not yet a viable path to existing tariffs declining and tariff escalation remains a meaningful risk," Michael D. Zezas, a Morgan Stanley strategist, wrote in a note to clients. "Thus, we do not expect a meaningful rebound in corporate behavior that would drive global growth expectations higher."

In a research note sizing up Friday's partial trade deal announcement, J.P.Morgan analysts noted that while the talks have delivered a tentative truce between the two nations, the gap between that truce and peace "could be large, and U.S.-China tension could escalate again, especially into the election period."

Benchmark crude oil fell $1.11 to settle at $53.59 a barrel. Brent crude oil, the international standard, dropped $1.16 to close at $59.35 a barrel.

Investors are looking ahead to the start of the third-quarter earnings season, with companies beginning to report results over the next few weeks.

Several major banks are due to issue their latest quarterly financial results this week. JPMorgan Chase, Citigroup and Wells Fargo will all report results on Tuesday. Bank of America and PNC Financial will report results on Wednesday.

Investors will be watching for information on income from loans as banks contend with sinking bond yields. Falling yields force banks to set lower rates on mortgages and other kinds of loans.

Expectations for S&P 500 companies' third-quarter results are generally low, with analysts forecasting a drop of 4.2% from a year ago. The results, plus what CEOs say about their spending and revenue forecasts, should give a better picture of the economy's potential direction.

"The market is a little bit nervous about earnings because there are some estimates out there that say there's going to be negative growth," Cavanaugh said, noting she expects overall earnings for the July-September quarter to show growth from a year ago.

Wholesale gasoline fell 3 cents to $1.61 per gallon on Monday. Heating oil declined 4 cents to $1.92 per gallon. Natural gas rose 7 cents to $2.28 per 1,000 cubic feet.

Gold rose $9.00 to $1,491.70 per ounce, silver rose 17 cents to $17.63 per ounce and copper was unchanged at $2.62 per pound.

The dollar fell to 108.37 Japanese yen from 108.52 yen on Friday. The euro weakened to $1.1031 from $1.1041.

European markets closed lower.


----------



## bigdog

Stocks notched solid gains on Wall Street Tuesday as investors welcomed surprisingly good quarterly results from some of the nation's biggest companies.

Strong earnings from UnitedHealth Group, JPMorgan Chase and other companies helped power the market's broad gains, erasing modest losses from a day earlier.

Investors are looking to the wave of quarterly report cards due out over the next few weeks to give them a clearer picture of what impact the trade war between the U.S. and China is having on corporate profits and the broader economy.

The encouraging earnings reports came with a spate of surprisingly good forecasts for the rest of the year, which helped ease concerns about a slowdown due to the costly trade conflict.

The S&P 500 index climbed 29.53 points, or 1%, to 2,995.68. The benchmark index is now 1% below its all-time high set in July.

The Dow Jones Industrial Average rose 237.44 points, or 0.9%, to 27,024.80. The Nasdaq gained 100.06 points, or 1.2%, to 8,148.71.

The S&P/ASX 200 index looks set to storm higher on Wednesday following a positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to rise 58 points or 0.85% at the open










https://www.usnews.com/news/busines...ed-as-optimism-over-china-us-trade-deal-fades

*Solid Company Earnings Power Broad Rally for US Stocks*
Stocks notched solid gains on Wall Street Tuesday as investors welcomed surprisingly good quarterly results from some of the nation's biggest companies.
By Associated Press, Wire Service Content Oct. 15, 2019, at 4:32 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Stocks notched solid gains on Wall Street Tuesday as investors welcomed surprisingly good quarterly results from some of the nation's biggest companies.

Strong earnings from UnitedHealth Group, JPMorgan Chase and other companies helped power the market's broad gains, erasing modest losses from a day earlier.

Investors are looking to the wave of quarterly report cards due out over the next few weeks to give them a clearer picture of what impact the trade war between the U.S. and China is having on corporate profits and the broader economy.

The encouraging earnings reports came with a spate of surprisingly good forecasts for the rest of the year, which helped ease concerns about a slowdown due to the costly trade conflict.

"That was what everybody was afraid of," said JJ Kinahan, chief market strategist for TD Ameritrade. "Instead, we got 'no, the future looks good.'"

The S&P 500 index climbed 29.53 points, or 1%, to 2,995.68. The benchmark index is now 1% below its all-time high set in July.

The Dow Jones Industrial Average rose 237.44 points, or 0.9%, to 27,024.80. The Nasdaq gained 100.06 points, or 1.2%, to 8,148.71. Small-company stocks also bounced back after leading the decline a day earlier. The Russell 2000 index picked up 17.87 points, or 1.2%, to 1,523.30.

Bond prices fell. The yield on the 10-year Treasury rose to 1.77% from 1.75% late Friday. Bond markets were closed Monday for Columbus Day.

Technology, health care, financial and communication services stocks drove much of Tuesday's broad rally, which gave the market its fourth gain in five days. Utilities and makers of consumer goods fell as investors regained an appetite for more risk. The sectors are considered safe-play holdings and usually lag the market when investors are more confident.

The latest batch of company earnings reports gave investors a confidence boost that, for the moment, sidelined concerns about whether Washington and Beijing will be able to work out a trade deal.

On Friday, the U.S. agreed to suspend a planned hike in tariffs on $250 billion of Chinese goods that had been set to kick in Tuesday. Beijing, meanwhile, agreed to buy $40 billion to $50 billion in U.S. farm products.

The U.S. did not, however, cancel plans for more tariffs in December and the sticking points of intellectual property and trade secrets still hang over the dispute.

"There really isn't any pen to paper, it's just people talking and nothing definite," Kinahan said. "The earnings are definite."

UnitedHealth Group jumped 8.2%, leading all S&P 500 stocks, after the company hiked its 2019 profit forecast following third-quarter results that beat Wall Street's expectations.

Traders also bid up shares in other health insurers. Anthem gained 6%, Cigna added 5.7% and Humana rose 4.8%.

Johnson & Johnson gained 1.6% after it raised its profit forecast for the year following solid third quarter results.

JPMorgan Chase rose 3% after the bank beat Wall Street's third quarter profit forecasts. Citigroup also delivered solid results, lifting its shares 1.4%.

Other major banks, including Goldman Sachs, Wells Fargo reported mixed results, but their shares still rose. Goldman Sachs added 0.3%, while Wells Fargo gained 1.7%.

Investors have been worried that corporate profits could be hampered by the U.S. trade disputes with China and growing economic uncertainty. Corporate earnings are expected to contract by nearly 5% during the third quarter, according to FactSet.

That forecast could soften as more companies report results for the third quarter. Similar forecasts were made ahead of both the first and second quarter reporting periods and companies in the S&P 500 managed to deliver only a modest contraction each time.

Investors are in for a busy few days for corporate earnings, including Bank of America, railroad giant CSX, Netflix and IBM on Wednesday.

Benchmark crude oil fell 78 cents to settle at $52.81 a barrel. Brent crude oil, the international standard, dropped 61 cents to close at $58.74 a barrel. Wholesale gasoline was unchanged at $1.61 per gallon. Heating oil declined 1 cent to $1.91 per gallon. Natural gas rose 6 cents to $2.34 per 1,000 cubic feet.

Gold fell $14.10 to $1,477.60 per ounce, silver fell 32 cents to $17.31 per ounce and copper fell 2 cents to $2.60 per pound.

The dollar rose to 108.84 Japanese yen from 108.37 yen on Monday. The euro strengthened to $1.1035 from $1.1031.

Major stock indexes in Europe closed mostly higher.


----------



## bigdog

A day of mostly listless trading on Wall Street ended Wednesday with modest losses as the stock market gave back some of its gains from the day before.

Technology stocks accounted for most of the selling, which lost some of its momentum toward the end of the day. Energy companies also fell. Financial sector stocks declined as bond yields, which are used to set interest rates on loans, headed lower.

The modest losses came as investors weighed mixed data on the economy and the latest batch of corporate earnings reports.

A move on Tuesday by the House of Representatives to show support for the pro-democracy protests in Hong Kong appeared to dim some investor optimism about the prospects for progress in the latest trade talks between the U.S. and China.

The S&P 500 index lost 5.99 points, or 0.2%, to 2,989.69. The Dow Jones Industrial Average dropped 22.82 points, or 0.1%, to 27,001.98. The Nasdaq fell 24.52 points, or 0.3%, to 8,124.18. The Russell 2000 index of smaller stocks eked out a tiny gain, adding 1.76 points, or 0.1%, at 1,525.06.

The S&P/ASX 200 index looks set to slide lower following a soft night of trade on global markets. According to the latest SPI futures, the ASX 200 is poised to drop 0.1% or 8 points at the open.










https://www.usnews.com/news/busines...rise-after-wall-street-gain-on-solid-earnings

*Technology Companies Lead Modest Slide for US Stock Indexes*
A day of mostly listless trading on Wall Street ended Wednesday with modest losses as the stock market gave back some of its gains from the day before.
By Associated Press, Wire Service Content Oct. 16, 2019, at 4:57 p.m.

By ALEX VEIGA, AP Business Writer

A day of mostly listless trading on Wall Street ended Wednesday with modest losses as the stock market gave back some of its gains from the day before.

Technology stocks accounted for most of the selling, which lost some of its momentum toward the end of the day. Energy companies also fell. Financial sector stocks declined as bond yields, which are used to set interest rates on loans, headed lower.

The modest losses came as investors weighed mixed data on the economy and the latest batch of corporate earnings reports.

A move on Tuesday by the House of Representatives to show support for the pro-democracy protests in Hong Kong appeared to dim some investor optimism about the prospects for progress in the latest trade talks between the U.S. and China.

"We're in the height of earnings season and the results that we got last night, as well as this morning, I would characterize as better-than-feared," said Cayman Wills, global head of equities at J.P. Morgan Private Bank. "On the other side of the pendulum, you have this development on U.S.-China trade relations and the pro-democracy position that Congress took skews slightly negative."

The S&P 500 index lost 5.99 points, or 0.2%, to 2,989.69. The Dow Jones Industrial Average dropped 22.82 points, or 0.1%, to 27,001.98. The Nasdaq fell 24.52 points, or 0.3%, to 8,124.18. The Russell 2000 index of smaller stocks eked out a tiny gain, adding 1.76 points, or 0.1%, at 1,525.06.

Advancers outweighed decliners on the New York Stock Exchange. The benchmark S&P 500 index remains 1.2% below its all-time high set in July.

Stocks got off to a downbeat start Wednesday as investors sized up a mixed batch of economic data and company earnings reports.

The Commerce Department said U.S. retail sales fell in September by the largest amount in seven months. That stoked worries that consumers are pulling back on spending.

A slowdown in retail sales is concerning because consumer spending is a key growth driver for the U.S. economy, which has slowed this year as the costly trade war between the U.S. and China has escalated.

On Friday, the U.S. agreed to suspend a planned hike in tariffs on $250 billion of Chinese goods that had been set to kick in Tuesday. Beijing, meanwhile, agreed to buy $40 billion to $50 billion in U.S. farm products.

While both sides still have many issues to work out, the conciliatory steps announced on Friday suggested the trade talks were making some progress. The three bills passed in the House on Tuesday in support of the pro-democracy protests in Hong Kong gave investors a new reason to be less optimistic.

Investors are worried the action by the House could blunt the recent positive momentum in the trade negotiation, Wills said. "It might take it a step back."

Stocks are on track to notch gains this week, in part because investors have mostly set aside concerns over the trade negotiations in favor of focusing on corporate earnings for the third quarter. Stocks rallied on Tuesday following surprisingly good earnings and hopeful forecasts.

Even so, company earnings for the third quarter are expected to be down by nearly 5%, according to FactSet.

Traders bid up shares in United Airlines 2.1% and Bank of America 1.5% Wednesday after the companies turned in third-quarter results that topped Wall Street's forecasts.

A mixed third-quarter report card weighed on insurer Progressive, which dropped 2.8%.

Microsoft and Adobe were among the big decliners in the technology sector. Microsoft slid 0.8% and Adobe slid 2.4%.

Companies that rely on consumer spending led the gainers. Retailer Advance Auto Parts picked up 1.9%.

Homebuilders marched broadly higher after an industry survey showed builders' confidence increased to the highest level since February 2018. Beazer Homes USA gained 3.6%.

General Motors rose 1.1% after the auto company and the United Auto Workers reached a tentative deal.

A potential settlement in the opioid epidemic involving some of the nation's largest drug distributors helped lift their shares. McKesson rose 4.8%, AmerisourceBergen climbed 3.4% and Cardinal Health added 2.4%.

Bond prices rose. The yield on the 10-year Treasury fell to 1.75% from 1.77% late Tuesday.

Benchmark crude oil rose 55 cents to settle at $53.36 a barrel. Brent crude oil, the international standard, gained 68 cents to close at $59.42 a barrel. Wholesale gasoline rose 1 cent to $1.62 per gallon. Heating oil climbed 3 cents to $1.94 per gallon. Natural gas fell 4 cents to $2.30 per 1,000 cubic feet.

Gold rose $10.40 to $1,488.00 per ounce, silver rose 4 cents to $17.35 per ounce and copper fell 2 cents to $2.58 per pound.

The dollar fell to 108.77 Japanese yen from 108.84 yen on Tuesday. The euro strengthened to $1.1072 from $1.1035.

Major stock indexes in Europe closed mostly lower.


----------



## bigdog

Stocks closed broadly higher on Wall Street Thursday as investors welcomed another batch of encouraging quarterly results from big companies.

A breakthrough in negotiations over Britain’s exit from the European Union also helped put traders in a buying mood.

The gains erased the market’s modest losses from the day before. Despite a choppy week of trading, the benchmark S&P 500 index is on track for its second straight weekly gain.

Health care, communication services and industrial stocks drove much of the market’s gains. Technology was the only laggard. Smaller-company stocks outdid the rest of the market.

Investors have shifted their focus this week to the latest round of corporate earnings after weeks of turbulence on Wall Street as the market reacted to developments in the trade war between the U.S. and China.

The S&P 500 index gained 8.26 points, or 0.3%, to 2,997.95. The index is within 0.1% of its all-time high set in July.

The Dow Jones Industrial Average briefly slipped into the red, but managed to add 23.90 points, or 0.1, to 27,025.88. The Nasdaq rose 32.67 points, or 0.4%, to 8,156.85.

The S&P/ASX 200 index looks set to end the week on a disappointing note despite a positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to drop 17 points or 0.25% at the open










https://www.usnews.com/news/busines...res-mixed-on-caution-over-china-us-trade-deal

*After Some Wobbling, Stocks Close Higher on Solid Earnings*
Stocks closed broadly higher on Wall Street Thursday as investors welcomed another batch of encouraging quarterly results from big companies.
By Associated Press, Wire Service Content Oct. 17, 2019, at 5:04 p.m.

*After some wobbling, stocks close higher on solid earnings*
By ALEX VEIGA -
10/17/19 5:05 PM

Stocks closed broadly higher on Wall Street Thursday as investors welcomed another batch of encouraging quarterly results from big companies.

A breakthrough in negotiations over Britain’s exit from the European Union also helped put traders in a buying mood.

The gains erased the market’s modest losses from the day before. Despite a choppy week of trading, the benchmark S&P 500 index is on track for its second straight weekly gain.

Health care, communication services and industrial stocks drove much of the market’s gains. Technology was the only laggard. Smaller-company stocks outdid the rest of the market.

Investors have shifted their focus this week to the latest round of corporate earnings after weeks of turbulence on Wall Street as the market reacted to developments in the trade war between the U.S. and China.

Several companies have turned in surprisingly good third-quarter results and outlooks. That’s helped to ease some investors’ concerns over the economy, though red flags remain over the trade war.

“About 76% of those that have reported have beat on earnings,” said Adam Taback, deputy chief investment officer at Wells Fargo Private Bank.

The forecasts from companies haven’t been as negative as many expected, Taback said, but many have raised concerns about “slowing global growth and risk of trade wars.”

The S&P 500 index gained 8.26 points, or 0.3%, to 2,997.95. The index is within 0.1% of its all-time high set in July.

The Dow Jones Industrial Average briefly slipped into the red, but managed to add 23.90 points, or 0.1, to 27,025.88. The Nasdaq rose 32.67 points, or 0.4%, to 8,156.85.

Traders favored smaller-company stocks. The Russell 2000 index climbed 16.79, or 1.1%, to 1,541.84.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.75% from 1.74% late Wednesday.

The market climbed in the early going as investors reviewed the latest batch of corporate earnings reports from several companies, including Netflix, CSX and Morgan Stanley.

Traders bid up shares in Netflix 2.5% a day after the video streaming giant reported earnings that blew past analysts’ forecasts. The profit beat came even as revenue and subscriber growth fell short of forecasts, though some investors had been bracing for an even bigger letdown.

Netflix is facing major threats to its video streaming service from Apple and Disney, among others. That, and investors’ concerns about subscriber growth, have been weighing on the stock recently, pulling it down 23% from a recent peak in early July.

Honeywell International also served up earnings that topped analysts’ forecasts. The stock added 2.4%. Railroad operator CSX also turned in quarterly results that were better than investors were expecting. Its shares finished 1.1% higher.

Morgan Stanley climbed 1.5% after the bank reported solid third-quarter results.

U.S. stocks also got a boost from news that Britain had reached a tentative deal to separate from the European Union. The deal, which faces a potentially tough road to approval in Britain’s Parliament, led to a mixed finish for major European stock indexes.

Despite a midmorning wobble, U.S. stocks held on, extending their gains for the week.

Health care stocks continued to notch gains Thursday. October has been good month for the sector. It’s up 2.1% for the month so far and 2.4% this week. By comparison, the S&P 500 index is up about 0.9% for the week and 0.7% for the month.

Even with the recent gains, health care stocks are well behind most other sectors, with only a 6.4% gain for the year. Most other sectors are up by double digit percentages.

Benchmark crude oil rose 57 cents to settle at $53.93 a barrel. Brent crude oil, the international standard, rose 49 cents to close at $59.91 a barrel. Wholesale gasoline was unchanged at $1.62 per gallon. Heating oil climbed 1 cent to $1.95 per gallon. Natural gas rose 2 cents to $2.32 per 1,000 cubic feet.

Gold rose $4.30 to $1,492.30 per ounce, silver rose 19 cents to $17.54 per ounce and copper rose 1 cent to $2.59 per pound.

The dollar fell to 108.68 Japanese yen from 108.77 yen on Wednesday. The euro strengthened to $1.1124 from $1.1072


----------



## bigdog

The S&P 500 index closed out an uneven week of trading on Wall Street with its second straight weekly gain, even though stock indexes ended lower Friday.

Technology companies led the slide, erasing some of the market's gains from a day earlier. Communication services, industrials and health care stocks also fell, outweighing gains in real estate companies, banks and elsewhere in the market.

Investors continued to focus on company earnings reports. They're searching for a clearer picture on the impact that the trade war between the U.S. and China is having on corporate profits and the broader economy.

"To some extent, the bleeding's stopped, but now you need to figure out how healthy the patient is," said Willie Delwiche, investment strategist at Baird. "Earnings help with that, and economic data that we receive over the next couple of months will help with that."

The S&P 500 index fell 11.75 points, or 0.4%, to 2,986.20. The index is just 1.3% below its all-time high set in late July.

The Dow Jones Industrial Average dropped 255.68 points, or 1%, to 26,770.20. The Nasdaq lost 67.31 points, or 0.8%, to 8,089.54. The Russell 2000 index of smaller stocks gave up 6.36 points, or 0.4%, to 1,535.48.










*Chart DOW vs AORD*





https://www.usnews.com/news/busines...all-back-after-china-reports-economy-weakened

*Stocks End Lower; S&P 500 Notches 2nd Straight Weekly Gain*
The S&P 500 index closed out an uneven week of trading on Wall Street with its second straight weekly gain, even though stock indexes ended lower Friday.
By Associated Press, Wire Service Content Oct. 18, 2019, at 4:54 p.m.

By ALEX VEIGA, AP Business Writer

The S&P 500 index closed out an uneven week of trading on Wall Street with its second straight weekly gain, even though stock indexes ended lower Friday.

Technology companies led the slide, erasing some of the market's gains from a day earlier. Communication services, industrials and health care stocks also fell, outweighing gains in real estate companies, banks and elsewhere in the market.

Investors continued to focus on company earnings reports. They're searching for a clearer picture on the impact that the trade war between the U.S. and China is having on corporate profits and the broader economy.

"To some extent, the bleeding's stopped, but now you need to figure out how healthy the patient is," said Willie Delwiche, investment strategist at Baird. "Earnings help with that, and economic data that we receive over the next couple of months will help with that."

The S&P 500 index fell 11.75 points, or 0.4%, to 2,986.20. The index is just 1.3% below its all-time high set in late July.

The Dow Jones Industrial Average dropped 255.68 points, or 1%, to 26,770.20. The Nasdaq lost 67.31 points, or 0.8%, to 8,089.54. The Russell 2000 index of smaller stocks gave up 6.36 points, or 0.4%, to 1,535.48.

All told, the S&P 500 ended the week with a gain of 0.5%. Last week, it notched a 0.6% gain.

Smaller stocks outpaced the broader market, a sign that investors are growing more confident. The Russell 2000 ended the week 1.6% higher after rising 0.8% last week.

Bond prices were little changed Friday. The yield on the 10-year Treasury held steady at 1.75%.

While trading turned choppy this week, investors mostly applauded companies' results so far, including those from JPMorgan Chase, UnitedHealth Group and railroad operator Kansas City Southern.

That helped investors temporarily brush aside worries over the U.S.-China trade conflict. The early round of mostly good results could also help calm investors' fears about another dismal forecast for earnings growth.

Analysts expect profit to contract by nearly 5% for companies within the S&P 500, according to FactSet. Still, forecasts for declines in the first and second quarters were tempered as reporting progressed and companies finished those earnings seasons with tiny contractions instead.

The bar for topping earnings forecasts in the third quarter has been lowered enough that most companies should beat it, Delwiche said.

"The question is what happens with 2020 earnings," he said. "You still have robust 2020 numbers out there. Those likely need to come down."

Uncertainty over the trade war and signs of a slowing global economy have roiled markets this year. Washington and Beijing reached a truce last week that kept their conflict from escalating further, but both sides still have many issues to work out before reaching a substantive deal.

Chipmakers helped pull technology sector stocks lower Friday. Micron Technology dropped 4.5% and Nvidia fell 2%.

Communication services stocks also accounted for a big slice of the selling. Netflix led the slide, tumbling 6.2%.

Boeing led industrial sector stocks lower following news that the aircraft manufacturer waited months to disclose troubling internal communications between two of its employees about the company's now-grounded 737 Max jet. Boeing lost 6.8%.

Shares in several companies rose after they reported solid quarterly results.

ETrade Financial climbed 4.6% after reporting surprisingly good third-quarter profit.

Coca-Cola gained 1.8% after the company edged out Wall Street's third-quarter revenue forecasts on improved sales of Coca-Cola Zero Sugar and other drinks.

Meanwhile, Johnson & Johnson fell 6.2% after the company said it is recalling a single lot of its baby powder because a test found trace amounts of asbestos in one bottle.

Investors are in for another busy week of corporate earnings next week, including McDonald's on Tuesday, Boeing and Microsoft on Wednesday, and Amazon and American Airlines Group on Thursday.

Benchmark crude oil fell 15 cents to settle at $53.78 a barrel Friday. Brent crude oil, the international standard, dropped 49 cents to close at $59.42 a barrel. Wholesale gasoline was unchanged at $1.62 per gallon. Heating oil was unchanged at $1.95 per gallon. Natural gas was unchanged at $2.32 per 1,000 cubic feet.

Gold fell $4.10 to $1,488.20 per ounce, silver fell 4 cents to $17.50 per ounce and copper rose 4 cents to $2.63 per pound.

The dollar fell to 108.46 Japanese yen from 108.68 yen on Thursday. The euro strengthened to $1.1163 from $1.1124.

Stock indexes in Europe closed broadly lower ahead of a weekend vote by Britain's Parliament on the latest proposed deal covering its exit from the European Union. Britain is set to leave the trading block on Oct. 31.

7755


----------



## bigdog

Technology companies and banks helped power stocks on Wall Street broadly higher Monday, extending the market's gains of the past two weeks.

The rally came as investors found fresh reason for optimism as the U.S. and China continue negotiations aimed at resolving their costly trade war. China's top negotiator said over the weekend that "substantial progress" was being made in its talks with the U.S. Tensions over trade between Washington and Beijing have cooled recently.

The latest gains nudged the S&P 500 above 3,000 points for the first time in a month. The benchmark index is now within 0.7% of its all-time high set on July 26 but could need a catalyst to set a record.

The S&P 500 index rose 20.52 points, or 0.7%, to 3,006.72. The Dow Jones Industrial Average gained 57.44 points, or 0.2%, to 26,827.64. The index was weighed down by a sharp drop in Boeing shares.

The Nasdaq climbed 73.44 points, or 0.9%, to 8,162.99.

According to the latest SPI futures, the ASX 200 is poised to rise 0.3% or 18 points at the open.










https://www.usnews.com/news/busines...ixed-amid-uncertainties-on-brexit-china-trade

*US Stocks Close Broadly Higher, Led by Tech Companies, Banks*
Technology companies and banks helped drive U.S. stocks broadly higher Monday, extending the market's gains of the past two weeks.
By Associated Press, Wire Service Content Oct. 21, 2019, at 4:57 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Technology companies and banks helped power stocks on Wall Street broadly higher Monday, extending the market's gains of the past two weeks.

The rally came as investors found fresh reason for optimism as the U.S. and China continue negotiations aimed at resolving their costly trade war. China's top negotiator said over the weekend that "substantial progress" was being made in its talks with the U.S. Tensions over trade between Washington and Beijing have cooled recently.

The latest gains nudged the S&P 500 above 3,000 points for the first time in a month. The benchmark index is now within 0.7% of its all-time high set on July 26 but could need a catalyst to set a record.

"This would be about the fourth time since July that we're coming up against that all-time high again," said Randy Frederick, vice president of trading & derivatives at Charles Schwab. "I have a hard time seeing us break through that if we don't get some kind of a trade deal."

The S&P 500 index rose 20.52 points, or 0.7%, to 3,006.72. The Dow Jones Industrial Average gained 57.44 points, or 0.2%, to 26,827.64. The index was weighed down by a sharp drop in Boeing shares.

The Nasdaq climbed 73.44 points, or 0.9%, to 8,162.99. The Russell 2000 index of smaller stocks did much better than other indices in another sign of investors' confidence. The index picked up 14.66 points, or 1%, to 1,550.14.

As they wait for trade talk developments, investors have been shifting their focus to corporate earnings reports. Monday was a relatively quiet start to a week full of results from major companies.

Analysts came into this latest earnings season expecting profits to decline overall for companies in the S&P 500. But with about 15% of companies in the index reporting so far, results have been surprisingly positive.

"We remain cautious for the quarter but believe that companies will continue to chin the low bar they have set and ultimately, we will end the quarter flat or up low single digits," said Katie Nixon, chief investment officer for Northern Trust Wealth Management, in a note to investors.

Earnings growth fell slightly in the first and second quarters, according to data from FactSet, which was better than Wall Street's expectation at the start of those reporting seasons.

Chipmakers, many of which are highly reliant on China for business, made some of the strongest gains Monday. Nvidia rose 2.9% and Micron Technology added 4%. Apple rose 1.7%

Banks benefited from a solid rise in bond yields. Citigroup gained 3%.

The yield on the 10-year Treasury rose to 1.80% from 1.75% late Friday. Higher yields allow banks to charge more lucrative interest on mortgages and other loans. Higher yields are also a sign that investors are more confident.

The materials and health care sectors were the only laggards.

Traders continued to hammer Boeing shares. The stock fell 3.8% on top of a 6.8% slide on Friday. Congress is ramping up its scrutiny of Boeing as its CEO, Dennis Muilenburg, is scheduled to testify to the House's transportation committee on Oct. 30.

Investors are concerned about the latest revelations surrounding its 737 Max airplanes.

In messages released last week, former senior Boeing test pilot Mark Forkner told a co-worker in 2016 he unknowingly misled safety regulators about problems with a flight-control system that would later be implicated in two deadly crashes. On Sunday, the company said that it's unfortunate that messages between co-workers weren't released in a manner allowing for "meaningful explanation."

Halliburton jumped 6.4% after the oilfield services company said it will cut costs in its North American operations amid a decline in customer spending.

Meanwhile, the nation's three largest drug distributors and a drugmaker reached a $260 million deal early Monday to settle a lawsuit related to the U.S. opioid crisis. The agreement averts what would have been the first federal trial over the crisis, though it does not resolve more than 2,600 other lawsuits seeking to hold the drug industry accountable for the deadly toll taken by opioids.

AmerisourceBergen slid 3.3%, Cardinal Health shed 2.2% and McKesson fell 3.2%. Drug manufacturer Teva jumped 8.7%.

Energy futures closed broadly lower Monday.

Benchmark crude oil fell 47 cents to settle at $53.31 a barrel. Brent crude oil, the international standard, dropped 46 cents to close at $58.96 a barrel. Wholesale gasoline slid 2 cents to $1.61 per gallon. Heating oil lost a penny to $1.94 per gallon. Natural gas dropped a penny to $2.24 per 1,000 cubic feet.

Gold fell $6 to $1,488.10 per ounce, silver added 2 cents to $17.60 per ounce and copper slipped a penny to $2.65 per pound.

The dollar rose to 108.58 Japanese yen from 108.46 yen on Friday. The euro weakened to $1.1146 from $1.1163.

European markets closed broadly higher.


----------



## bigdog

A choppy day of trading on Wall Street ended Tuesday with stocks closing lower after a technology sector-led sell-off strengthened toward the end of the day.

That late-afternoon burst of selling erased modest gains for the market, which was coming off two weeks of gains.

The major indexes wavered for much of the day between small gains and losses as investors weighed a mixed batch of earnings reports from McDonald's, Procter & Gamble and other big companies.

The S&P 500 index fell 10.73 points, or 0.4%, to 2,995.99. The index spent most of the day at or above 3,000 and briefly climbed 0.3% before the late-afternoon slide.

The Dow Jones Industrial Average dropped 39.54 points, or 0.2%, to 26,788.10.

The Nasdaq, which is heavily weighted with technology stocks, bore the brunt of the selling, losing 58.69 points, or 0.7%, to 8,104.30.

The S&P/ASX 200 index looks set to edge lower following a soft night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to fall 4 points or 0.05% at the open.










https://www.usnews.com/news/busines...climb-lifted-by-upbeat-talk-on-china-us-trade

*US Stock Indexes Close Lower on Mixed Company Earnings*
A choppy day of trading on Wall Street ended Tuesday with stocks closing lower after a technology sector-led sell-off strengthened toward the end of the day.
By Associated Press, Wire Service Content Oct. 22, 2019, at 5:02 p.m.

By ALEX VEIGA, AP Business Writer

A choppy day of trading on Wall Street ended Tuesday with stocks closing lower after a technology sector-led sell-off strengthened toward the end of the day.

That late-afternoon burst of selling erased modest gains for the market, which was coming off two weeks of gains.

The major indexes wavered for much of the day between small gains and losses as investors weighed a mixed batch of earnings reports from McDonald's, Procter & Gamble and other big companies.

Weak profits and sales pulled shares in McDonald's lower. Travelers sank after the insurance company reported earnings that fell far short of analysts' forecasts. Meanwhile, traders bid up shares in Procter & Gamble after the consumer products maker raised its profit forecast for the year following surprisingly good third quarter earnings.

"We're still waiting to see how earnings season shakes out," said Karyn Cavanaugh, senior markets strategist at Voya Investment Management. "There have been some winners and some losers. There's been a couple of misses."

The S&P 500 index fell 10.73 points, or 0.4%, to 2,995.99. The index spent most of the day at or above 3,000 and briefly climbed 0.3% before the late-afternoon slide.

The Dow Jones Industrial Average dropped 39.54 points, or 0.2%, to 26,788.10.

The Nasdaq, which is heavily weighted with technology stocks, bore the brunt of the selling, losing 58.69 points, or 0.7%, to 8,104.30.

Smaller company stocks fared better than the rest of the market. The Russell 2000 index added 0.73 points, or 0.1%, to 1,550.87.

Bond prices rose. The yield on the 10-year Treasury note, which is a benchmark for the interest rates banks charge for mortgages and other loans, fell to 1.77% from 1.79% late Monday.

Investors have been shifting their focus to corporate earnings reports as they wait for developments in the trade negotiations between the U.S. and China.

Optimism over the latest round of talks, which for now have at least prevented the costly conflict from escalating further, helped put investors in a buying mood in recent weeks. The benchmark S&P 500 has notched weekly gains the past two weeks.

Analysts came into this latest earnings season expecting profits to decline overall for companies in the S&P 500. But with about 15% of companies in the index reporting so far, results have been surprisingly positive.

Earnings growth fell slightly in the first and second quarters, according to data from FactSet, which was better than Wall Street's expectation at the start of those reporting seasons.

"The market really moves on earnings," Cavanaugh said. "If we see a negative year-over-year earnings growth quarter, it's going to give the market a little bit of pause."

While some of the company earnings on Tuesday were surprisingly good, a few large companies gave investors disappointing results that tipped the market into the red.

Technology companies accounted for most of the selling. Microsoft dropped 1.5%. Payment processors Visa and Mastercard also fell, shedding 3.2% and 4.8%, respectively.

Communications services stocks also helped pull the market lower. Netflix led the slide, dropping 4.1%. Facebook lost 3.9% following news that a state-level antitrust investigation into the social networking giant now has the backing of a bipartisan group of 47 attorneys general.

McDonald's slid 5% after reporting that its third-quarter profit and revenue fell short of Wall Street forecasts. It was one of the big decliners among companies that rely on consumer spending.

Financial stocks also ended lower. Travelers sank 8.3% after the insurance company reported earnings that fell far short of analysts' forecast.

Companies with stronger quarterly results fared better.

Biogen soared 26.1% after the biotechnology giant handily beat Wall Street's third-quarter profit and revenue forecasts. It also said it will ask regulators to approve a treatment for Alzheimer's. The company's gains gave a strong shot to the broader health care sector.

Procter & Gamble rose 2.6% on its solid quarterly report card.

This will be another busy week for investors. Boeing, Caterpillar and Microsoft all report their results on Wednesday. American Airlines, Twitter and Amazon will report on Thursday.

Benchmark crude oil rose 90 cents to settle at $54.21 a barrel. Brent crude oil, the international standard, gained 74 cents to close at $59.70 a barrel. Wholesale gasoline was unchanged at $1.61 per gallon. Heating oil was unchanged at $1.94 per gallon. Natural gas rose 3 cents to $2.27 per 1,000 cubic feet.

Gold fell 70 cents to $1,481.70 per ounce, silver fell 9 cents to $17.44 per ounce and copper fell 2 cents to $2.62 per pound.

The dollar fell to 108.46 Japanese yen from 108.58 yen on Monday. The euro weakened to $1.1124 from $1.1146.

Stocks in Europe finished higher after British lawmakers on Tuesday approved Prime Minister Boris Johnson's Brexit deal in principle. However, they also rejected the government's fast-track attempt to pass the bill within days.

British Prime Minister Boris Johnson says he will "pause" the government's planned Brexit legislation.


----------



## bigdog

U.S. stock indexes eked out tiny gains Wednesday following a wobbly day of trading as investors reviewed another set of mixed quarterly report cards from big companies.

Some of the companies' earnings topped analysts' expectations. Others put traders in a selling mood after warning that the slowing global economy and trade tensions are hitting their profits.

While it's still early this earnings season, traders are trying to gauge how much the U.S. trade war with China and a slowdown in global economic growth is hurting Corporate America.

The lack of direction in earnings Wednesday was reflected in the market, which spent most of the day wavering between tiny gains and losses.

The S&P 500 rose 8.53 points, or 0.3%, to 3,004.52. The benchmark index had been down about 0.2% before recovering toward the end of the day. It remains within 0.8% of its all-time high, which was set July 26.

The Dow Jones Industrial Average also rebounded from a midday drop, gaining 45.85 points, or 0.2%, to 26,833.95.

The Nasdaq composite added 15.50 points, or 0.2%, to 8,119.79.

It looks set to be a good day of trade for the S&P/ASX 200 index following a positive night on U.S. markets. According to the latest SPI futures, the ASX 200 is poised to jump 0.5% or 32 points at the open.










https://www.usnews.com/news/busines...follow-wall-street-lower-after-mixed-earnings

*Stocks Eke Out Gains After a Mixed Set of Earnings Reports*
U.S. stock indexes eked out tiny gains Wednesday following a wobbly day of trading Wednesday as investors reviewed another set of mixed company earnings.
By Associated Press, Wire Service Content Oct. 23, 2019, at 5:05 p.m. 

By ALEX VEIGA, AP Business Writer

U.S. stock indexes eked out tiny gains Wednesday following a wobbly day of trading as investors reviewed another set of mixed quarterly report cards from big companies.

Some of the companies' earnings topped analysts' expectations. Others put traders in a selling mood after warning that the slowing global economy and trade tensions are hitting their profits.

While it's still early this earnings season, traders are trying to gauge how much the U.S. trade war with China and a slowdown in global economic growth is hurting Corporate America.

The lack of direction in earnings Wednesday was reflected in the market, which spent most of the day wavering between tiny gains and losses.

"Fewer than a quarter of the companies have reported, so there's a lot more to come," said Sam Stovall, chief investment strategist at CFRA. "But the results have been mixed so far, even with the bar being set as low as it was."

The S&P 500 rose 8.53 points, or 0.3%, to 3,004.52. The benchmark index had been down about 0.2% before recovering toward the end of the day. It remains within 0.8% of its all-time high, which was set July 26.

The Dow Jones Industrial Average also rebounded from a midday drop, gaining 45.85 points, or 0.2%, to 26,833.95.

The Nasdaq composite added 15.50 points, or 0.2%, to 8,119.79. The Russell 2000 index of smaller companies picked up 1.99 points, or 0.1%, to 1,552.86.

Bond yields mostly held steady. The yield on the 10-year Treasury note was unchanged at 1.76%.

Roughly a quarter of the companies in the S&P 500 have reported how much they made from July through September, and analysts are still forecasting the index will end up showing a drop in earnings per share from a year earlier.

If they're right, it would be the first time earnings have fallen for three straight quarters since 2015-16, according to FactSet.

The weakest results are expected to come from companies that are reliant on the strength of the global economy, which has been slowing amid trade wars. Raw-material producers, technology companies and energy stocks are predicted to report drops of 10% or more, according to FactSet.

Analysts are forecasting stronger growth for communications companies and businesses that sell to consumers, which have been the strongest part of the economy.

One worrisome sign is that estimates for 2020 corporate earnings growth have been mostly reduced since the end of last month, Stovall said.

"There's so much uncertainty out there right now," he said. "The US-China trade relations, whether that is likely to see improvement, and what kind of an impact Europe could experience when Britain does finally leave the EU."

Health care companies helped lead stocks higher Wednesday, powered in part by Thermo Fisher Scientific, which reported stronger-than-expected profits and raised its forecast for full-year revenue and profit. The stock gained 5.7%.

Boeing rose 1% after it said its 737 Max airplane may return to service by the end of the year and that it will gradually increase 737 production by late 2020. That helped make up for its weaker-than-expected profit for the latest quarter.

On the losing end was Texas Instruments, which said its customers have become far more cautious than they were even 90 days ago, with trade tensions a big factor. It reported stronger profits for the latest quarter than analysts expected, but its forecast for this quarter fell short of their estimates. It lost 7.5%.

Caterpillar, another company whose fortunes are seen on Wall Street as closely tied to President Donald Trump's trade wars, briefly declined before climbing 1.2% after reporting weaker-than-expected profit for the latest quarter.

Several big companies are scheduled to report quarterly results on Thursday, including American Airlines Group, Amazon and Visa.

Benchmark U.S. crude oil rose $1.49 to settle at $55.97 a barrel. Brent crude oil, the international standard, gained $1.47 to close at $61.17 a barrel.

Wholesale gasoline rose 4 cents to $1.65 per gallon. Heating oil climbed 2 cents to $1.96 per gallon. Natural gas rose 1 cent to $2.28 per 1,000 cubic feet.

Gold rose $8.20 to $1,489.90 per ounce, silver rose 8 cents to $17.52 per ounce and copper rose 4 cents to $2.66 per pound.

The dollar rose to 108.65 Japanese yen from 108.46 yen on Tuesday. The euro strengthened to $1.1128 from $1.1124.

Stock indexes in Europe closed mixed Wednesday as the United Kingdom's pending exit from the European Union appeared set for yet another delay.


----------



## bigdog

Solid profits and forecasts from several technology companies helped lift U.S. stocks to modest gains Thursday, nudging the S&P 500 within striking distance of its all-time high.

The benchmark index wavered between small gains and losses through much of the day as investors reviewed another round of third-quarter earnings reports and company outlooks heading into 2020.

Traders have braced for weaker results this earnings season amid concerns about the costly trade war between the U.S. and China, and increased signs of slowing economic growth worldwide.

Earnings reports in the last couple of weeks, representing roughly a third of companies in the S&P 500, have mostly exceeded Wall Street analysts' modest expectations. However, many of those that delivered improved results for the quarter have also issued disappointing profit outlooks. That's led to several days of uneven trading in the markets. On Thursday, decliners outnumbered gainers among stocks in the New York Stock Exchange.

After moving sideways for much of the day, the S&P 500 added 5.77 points, or 0.2%, to 3,010.29. The index is now within 0.6% of its all-time high set July 26.

The Dow Jones Industrial Average dropped 28.42 points, or 0.1%, to 26,805.53. The Nasdaq, which is heavily weighted with technology stocks, climbed 66 points, or 0.8%, to 8,185.80.

The S&P/ASX 200 index looks set to finish the week on a positive note. According to the latest SPI futures, the ASX 200 is poised to rise 40 points or 0.6% at the open.










https://www.usnews.com/news/busines...-mixed-as-earnings-drive-modest-wall-st-gains

*Solid Earnings From Tech Companies Lift US Stocks Higher*
Solid profits and forecasts from several technology companies helped lift U.S. stocks to modest gains Thursday, nudging the S&P 500 within striking distance of its all-time high.
By Associated Press, Wire Service Content Oct. 24, 2019, at 5:02 p.m. 

By ALEX VEIGA, AP Business Writer

Solid profits and forecasts from several technology companies helped lift U.S. stocks to modest gains Thursday, nudging the S&P 500 within striking distance of its all-time high.

The benchmark index wavered between small gains and losses through much of the day as investors reviewed another round of third-quarter earnings reports and company outlooks heading into 2020.

Traders have braced for weaker results this earnings season amid concerns about the costly trade war between the U.S. and China, and increased signs of slowing economic growth worldwide.

Earnings reports in the last couple of weeks, representing roughly a third of companies in the S&P 500, have mostly exceeded Wall Street analysts' modest expectations. However, many of those that delivered improved results for the quarter have also issued disappointing profit outlooks. That's led to several days of uneven trading in the markets. On Thursday, decliners outnumbered gainers among stocks in the New York Stock Exchange.

"What we would have needed to see for the market to be really cheering this (earnings) story is if companies were beating and then raising forward expectations," said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. "But you're not seeing that very consistently."

After moving sideways for much of the day, the S&P 500 added 5.77 points, or 0.2%, to 3,010.29. The index is now within 0.6% of its all-time high set July 26.

The Dow Jones Industrial Average dropped 28.42 points, or 0.1%, to 26,805.53. The Nasdaq, which is heavily weighted with technology stocks, climbed 66 points, or 0.8%, to 8,185.80.

The Russell 2000 index of smaller stocks slipped 2.67 points, or 0.2%, to 1,550.18.

European markets closed broadly higher. Bond prices were little changed. The yield on the 10-year Treasury held at 1.76%.

About one-third of the companies in the S&P 500 have released their results for the July-September quarter. So far, they amount to just over a 1.2% drop in profit overall, according to FactSet. That's much better than initial expectations for a more than 4% contraction in earnings growth for all the companies in the index.

While that's encouraging, investors are also focusing on company outlooks, which have been uneven.

"Financials looked OK, but the tech and industrials have been really mixed," Haworth said. "You had good news from Microsoft, bad news from Texas Instruments, and that's what has everyone stuck."

The tech sector, already the biggest gainer this year, almost singlehandedly accounted for the market's gains Thursday as solid results from Microsoft, PayPal and other technology sector companies offset disappointing quarterly report cards from other companies. Microsoft rose 2%, PayPal climbed 8.6% and Lam Research surged 13.9%.

Traders also cheered encouraging results from several retailers, including O'Reilly Automotive. The auto parts seller jumped 9.2% after it delivered better-than-expected results for the third quarter. It also raised its profit forecast.

Tesla surged 17.7% after the electric car maker surprised Wall Street with a solid profit. Analysts expected the company to report another loss as it struggles to increase sales.

Solid profits helped lift American Airlines 4% and push Southwest Airlines 5.7% higher. American Airlines beat Wall Street profit forecasts thanks in part to lower prices for jet fuel. Southwest overcame the grounding of its Boeing 737 Max jets to beat analysts' profit forecasts.

Other earnings reports and outlooks put investors in a selling mood. Twitter plunged 20.8% on weak financial results, pulling communications services stocks lower.

Shares in several companies also fell after they posted mixed results or weak profit outlooks: Ford slumped 6.6%, 3M lost 4.1%, eBay tumbled 9.1% and Stanley Black & Decker dropped 4.7%.

Benchmark crude oil rose 26 cents to settle at $56.23 a barrel. Brent crude oil, the international standard, gained 50 cents to close at $61.67 a barrel. Wholesale gasoline rose 1 cent to $1.66 per gallon. Heating oil climbed 2 cents to $1.98 per gallon. Natural gas rose 3 cents to $2.32 per 1,000 cubic feet.

Gold rose $9.00 to $1,498.90 per ounce, silver rose 22 cents to $17.74 per ounce and copper was unchanged at $2.66 per pound.

The dollar fell to 108.62 Japanese yen from 108.65 yen on Wednesday. The euro weakened to $1.1108 from $1.1128.


----------



## bigdog

The S&P 500 closed just short of an all-time high 
	

		
			
		

		
	





	

		
			
		

		
	
 Friday as investors welcomed solid company earnings reports and an encouraging update on trade talks between the U.S. and China.










Technology, communications services and financial stocks powered the rally. The index ended within 0.1% of its record set July 26. It also notched its third straight weekly gain.

Strong earnings reports from Intel, Charter Communications and other companies helped reverse a mixed start.

The buying accelerated around midday after the U.S. Trade Representative's office said the discussions with China's negotiating team "made headway and the two sides are close to finalizing some sections of the agreement."

The S&P 500 rose 12.26 points, or 0.4%, to 3,022.55.

The Dow Jones Industrial Average gained 152.53 points, or 0.6%, to 26,958.06. The Nasdaq climbed 57.32 points, or 0.7%, or 8,243.12.

This posting will be about 9:00 AM commencing from Monday after the New York time turns off daylight saving time











https://www.usnews.com/news/busines...res-mixed-amid-uncertainty-over-policy-growth


*Chart DOW vs AORD*





Stocks Post Gains on Solid Earnings, US-China Trade Optimism
Wall Street nearly delivered a milestone Friday as the S&P 500 index touched an all-time high before settling just below its record close reached in July*.*
By Associated Press, Wire Service Content Oct. 25, 2019, at 5:11 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

The S&P 500 closed just short of an all-time high Friday as investors welcomed solid company earnings reports and an encouraging update on trade talks between the U.S. and China.

Technology, communications services and financial stocks powered the rally. The index ended within 0.1% of its record set July 26. It also notched its third straight weekly gain.

Strong earnings reports from Intel, Charter Communications and other companies helped reverse a mixed start.

The buying accelerated around midday after the U.S. Trade Representative's office said the discussions with China's negotiating team "made headway and the two sides are close to finalizing some sections of the agreement."

"You've had indexes around the world make new highs since the last time the S&P did," said Willie Delwiche, investment strategist at Baird. "If we want to see a new high that's going to be durable we need to see more U.S. broad market improvement. It's heading in that direction, but it's not there yet."

The S&P 500 rose 12.26 points, or 0.4%, to 3,022.55.

The Dow Jones Industrial Average gained 152.53 points, or 0.6%, to 26,958.06. The Nasdaq climbed 57.32 points, or 0.7%, or 8,243.12. The Russell 2000 index of smaller stocks picked up 8.53 points, or 0.6%, to 1,558.71.

The U.S.-China trade conflict, which has led both sides to impose billions in tariffs on each other's goods, has roiled financial markets and stoked worries that the dispute could tip the global economy into a recession.

Those worries eased in recent weeks, after Washington and Beijing worked to calm tensions and then resumed negotiations.

That's allowed investors to focus on company earnings reports the past two weeks. Traders want to get a sense of how Corporate America is faring against the backdrop of the costly trade war between the world's two biggest economies.

Earnings reports so far have mostly exceeded Wall Street analysts' modest expectations. However, many of those that delivered improved results for the quarter have also issued disappointing profit outlooks.

Of the roughly 40% of the companies in the S&P 500 that have reported so far, 80% of them had results that topped Wall Street's earnings forecasts, while 64% beat revenue estimates, according to FactSet.

Factoring in the earnings reports that have already come in, analysts expect earnings from S&P 500 companies for the July-September quarter will be down 3.7% from a year ago. That's slightly better than the 4% drop that analysts were initially expecting.

As of Friday, some 38 companies in the S&P 500 had issued earnings forecasts for the fourth quarter. Of those, 26 issued negative guidance and 12 gave a positive outlook. That works out to 68% of those companies lowering their guidance, which is just below the 5-year average of 70%, according to FactSet.

Until this week, the market had a mostly muted reaction to earnings. In contrast, the S&P 500 notched gains four out of the past five days, rounding out the week with a three-day winning streak.

Intel jumped 8.1% after raising its profit forecast for the year following a solid third quarter. Fellow chipmakers, including Nvidia, also made strong gains.

Charter Communications gained 6.2% after reporting solid financial results. The cable operator made some of the strongest gains among its fellow communications companies.

Banks rose as bond yields moved higher. The yield on the 10-year Treasury rose to 1.8% from 1.76% late Thursday.

Consumer product makers, utilities and real estate companies lagged the market.

Amazon fell 1.1% after releasing disappointing third-quarter profits and a weak sales forecast for the holiday shopping season.

Some of the biggest names in technology and industry will release their results next week: Alphabet, Google's parent company, on Monday; General Motors, and drugmakers Merck and Pfizer on Tuesday; Apple and Facebook on Wednesday; and, Exxon on Friday.

Beyond earnings, the Federal Reserve issues its latest interest rate policy statement Wednesday afternoon, while the government will release its latest monthly tally of hiring and consumer confidence.

The economic data, along with a steady flow of important corporate earnings reports, could inject more volatility into the markets.

"The big focus will be the Fed," Delwiche said. "They're likely to cut rates. If they didn't that would come as a surprise. The uncertainty is what sort of guidance they give going forward."

Benchmark crude oil rose 43 cents to settle at $56.66 a barrel. Brent crude oil, the international standard, gained 35 cents to close at $62.02 a barrel. Wholesale gasoline rose 1 cent to $1.67 per gallon. Heating oil fell 1 cent to $1.98 per gallon. Natural gas slid 1 cent to $2.46 per 1,000 cubic feet.

Gold rose 60 cents to $1,499.50 per ounce, silver rose 12 cents to $17.86 per ounce and copper added a penny to $2.67 per pound.

The dollar fell to 108.68 Japanese yen from 108.62 yen on Thursday. The euro weakened to $1.1080 from $1.1108.

8071


----------



## bigdog

The S&P 500 index closed at an all-time high Monday, extending a recent string of gains in what’s mostly been a solid month for the market.

The benchmark index closed at 3,039.42, around 14 points above its previous record set on July 26. The S&P 500 notched its latest milestone after weeks of hovering just below its prior high.

Investors have been balancing worries over the impact that the costly trade war between the U.S. and China is having on corporate profits and the global economy against renewed optimism that negotiations that got underway this month could lead to some kind of resolution in the conflict.

The S&P 500 rose 16.87 points, or 0.6%, to 3,039.42. The index entered this week with three straight weekly gains may have had history on its side Monday.

“October 28 is historically the best day of the year for stocks,” according to Ryan Detrick, senior market strategist for LPL Financial. In a note to clients, Detrick said the average gain on Oct. 28 is 0.54%.

The Dow Jones Industrial Average gained 132.66 points, or 0.5%, to 27,090.72. The Dow is still about 1% below its record set on July 15.

The Nasdaq climbed 82.87 points, or 1%, to 8,325.99. The Russell 2000 index of smaller company stocks picked up 13.22 points, or 0.9%, to 1,571.93.

The benchmark S&P/ASX 200 index looks set to storm higher this morning. According to the latest SPI futures, the ASX 200 is expected to rise 23 points or 0.35% at the market open.










https://www.apnews.com/1efc943a05c34b4285c395029cfaaf6a

*S&P 500 hits all-time high as market extends recent gains*
By ALEX VEIGA

The S&P 500 index closed at an all-time high Monday, extending a recent string of gains in what’s mostly been a solid month for the market.

The benchmark index closed at 3,039.42, around 14 points above its previous record set on July 26. The S&P 500 notched its latest milestone after weeks of hovering just below its prior high.

Investors have been balancing worries over the impact that the costly trade war between the U.S. and China is having on corporate profits and the global economy against renewed optimism that negotiations that got underway this month could lead to some kind of resolution in the conflict.

“U.S.-China is not going away any time soon,” said Ben Phillips, chief investment officer of EventShares. “The market’s sentiment tends to swing from overly fearful to overly exuberant, and we’re probably starting to swing a little to the exuberant side right now. There are still a lot of risks out there.”

Monday’s rally came at the beginning of a busy week of corporate earnings and economic reports and with investors expecting another interest rate cut by the Federal Reserve.

Coming into this week, investors have been encouraged as most of the companies that have reported quarterly results the past couple of weeks that beat Wall Street analysts’ forecasts for earnings growth.

While some companies have lowered their forward earnings guidance, the market shook off those concerns. Expectations of another Fed interest rate cut this week also helped put investors in a buying mood, Phillips said.

“Last week’s overall momentum was just kind of up, up, up,” he said. “People are fully pricing in the Fed cutting again this week. There’s optimism that there’s going to be continued easy liquidity, or easy money, and that gets people excited.”

The S&P 500 rose 16.87 points, or 0.6%, to 3,039.42. The index entered this week with three straight weekly gains may have had history on its side Monday.

“October 28 is historically the best day of the year for stocks,” according to Ryan Detrick, senior market strategist for LPL Financial. In a note to clients, Detrick said the average gain on Oct. 28 is 0.54%.

The Dow Jones Industrial Average gained 132.66 points, or 0.5%, to 27,090.72. The Dow is still about 1% below its record set on July 15.

The Nasdaq climbed 82.87 points, or 1%, to 8,325.99. The Russell 2000 index of smaller company stocks picked up 13.22 points, or 0.9%, to 1,571.93.

The yield on the 10-year Treasury rose to 1.84% from 1.80% late Friday.

While the market waits for something concrete to emerge from the U.S.-China trade negotiations, investors have been largely playing it safe. A look at the big sector winners over the past three months shows utilities are up 5.6% and real estate stocks have gained 5.4%, leading the rest of the market.

Technology stocks are up only 1.7% in the same period, though the sector still leads all others with a 35.4% gain so far this year.

Technology, health care and communication services stocks powered the market’s gains Monday, outweighing losses in utilities, real estate and household goods makers. Energy stocks also fell as crude oil prices headed lower. Banks rose along with bond yields, which help set interest rates for mortgages and other loans.

Microsoft rose 2.5% after winning a Pentagon contract. Other technology companies also climbed. AT&T led broad gains for communications companies.

Despite Monday’s rally, the market could be in for some volatility this week as some 156 companies in the S&P 500 are scheduled to issue their quarterly results this week.

Google’s parent Alphabet reported results after the close of the market Monday. The company’s revenue exceeded Wall Street expectations but profits fell short. The stock dropped nearly 2% in after-hours trading.

General Motors and drugmakers Merck and Pfizer release results on Tuesday. Apple and Facebook report on Wednesday.

Traders also will be closely watching for the release of several important economic reports this week, including the Labor Department’s monthly employment report on Friday. Economists expect a slight increase in the unemployment rate to 3.6% in October from 3.5% in September.

Benchmark crude oil fell 85 cents to settle at $55.81 a barrel. Brent crude oil, the international standard, dropped 45 cents to close at $61.57a barrel. Wholesale gasoline was unchanged at $1.67 per gallon. Heating oil declined 2 cents to $1.96 per gallon. Natural gas fell 1 cent to $2.45 per 1,000 cubic feet.

Gold fell $9.50 to $1,490.00 per ounce, silver fell 4 cents to $17.82 per ounce and copper was unchanged at $2.67 per pound.

The dollar rose to 109.02 Japanese yen from 108.68 yen on Friday. The euro strengthened to $1.1098 from $1.1080

European markets closed broadly higher as the European Union agreed to give Britain a three-month extension for its planned departure from the 28-member trading bloc. It had been set to leave on Oct. 31. The extension gives both sides more time to make a deal that will cover trade and other issues.


----------



## bigdog

Technology companies led stocks lower on Wall Street Tuesday as a wobbly day of trading ended with modest losses for the market.

Health care stocks jumped on stronger-than-expected reports from drugmakers, but losses by internet and media companies held the market in check following a mixed report from Google's parent.

Companies have largely been reporting stronger earnings than analysts expected, but they're nowhere close to blow-away good. S&P 500 companies are still on track to report a third straight quarter of profit declines, according to FactSet.

Tuesday's modest market pullback came a day after the S&P 500 hit an all-time high. The benchmark index mostly drifted between small gains and losses Tuesday, finishing within 0.1% of its record.

The S&P 500 slipped 2.53 points, or 0.1%, to 3,036.89. It set a record on Monday, surpassing its prior peak set in late July.

The Dow Jones Industrial Average dropped 19.26 points, or 0.1%, to 27,071. The Nasdaq composite slid 49.13 points, or 0.6%, to 8,276.85.

Smaller companies fared better than the rest of the market. The Russell 2000 index rose 5.14 points, or 0.3%, to 1,577.07.

According to the latest SPI futures, the ASX 200 is expected to fall 0.4% or 27 points at the market open.










https://www.usnews.com/news/busines...shares-mixed-after-s-p-500-hits-all-time-high

*US Stocks Cap Wobbly Day of Trading With Modest Losses*
Technology companies led stocks lower on Wall Street Tuesday as a wobbly day of trading ended with modest losses for the market.
By Associated Press, Wire Service Content Oct. 29, 2019, at 4:56 p.m. 

By STAN CHOE and ALEX VEIGA, AP Business Writers

Technology companies led stocks lower on Wall Street Tuesday as a wobbly day of trading ended with modest losses for the market.

Health care stocks jumped on stronger-than-expected reports from drugmakers, but losses by internet and media companies held the market in check following a mixed report from Google's parent.

Companies have largely been reporting stronger earnings than analysts expected, but they're nowhere close to blow-away good. S&P 500 companies are still on track to report a third straight quarter of profit declines, according to FactSet.

Tuesday's modest market pullback came a day after the S&P 500 hit an all-time high. The benchmark index mostly drifted between small gains and losses Tuesday, finishing within 0.1% of its record.

"The market was a little bit overbought," said Janet Johnston, portfolio manager at Trim Tabs Asset Management. "It's a good sign that it continues to hold at new highs."

The S&P 500 slipped 2.53 points, or 0.1%, to 3,036.89. It set a record on Monday, surpassing its prior peak set in late July.

The Dow Jones Industrial Average dropped 19.26 points, or 0.1%, to 27,071. The Nasdaq composite slid 49.13 points, or 0.6%, to 8,276.85.

Smaller companies fared better than the rest of the market. The Russell 2000 index rose 5.14 points, or 0.3%, to 1,577.07.

Major stock indexes in Europe closed mostly lower. The price of crude oil dropped a second straight day, and gold dipped.

U.S. stocks are on track to end October with gains. The S&P 500 has closed with a weekly gain the past three weeks.

What's helped buoy U.S. stocks are hopes that the United States and China can make progress on their trade dispute, or at least stop making it worse. Lower interest rates have also played a big role.

Most investors expect the Federal Reserve to cut short-term rates by a quarter of a percentage point on Wednesday. The central bank has cut rates two other times since the summer in a bid to shield the U.S. from the impact of the trade war and a slowing global economy.

Treasury yields dipped ahead of the decision. The yield on the 10-year Treasury slid to 1.83% from 1.85% late Monday. The two-year yield, which is more sensitive to moves by the Fed, fell to 1.63% from 1.64%.

Company earnings reports have also helped lift the market. With nearly half of the companies in the S&P 500 having reported results for the July-September quarter, the index is on pace to report a profit drop of 3.5% from the prior year, according to FactSet.

That's not as bad as the roughly 4% decline that analysts were expecting on the eve of earnings reporting season, but it would be the first time that profits dropped for three straight quarters since 2015-2016.

Uncertainty and costs from the trade wars and slowing global economy have weighed on company profits this year, making it tougher for them eclipse their results from 2018.

The hefty tax cut that helped pump up corporate earnings in 2018 also makes it tougher for companies to do better this year.

"The biggest factor is the tough comps from the sugar high of the tax cut," Johnston said. "The economy is a little bit slower than it was last year. That said, we have not had an earnings recession and we continue to see positive year-over-year growth in earnings."

Analysts say the sharpest earnings declines in the third quarter will come from energy companies, raw-material producers and technology companies. Wall Street is expecting stronger growth, meanwhile, from companies that do most of their business domestically, such as utilities and real-estate companies.

Over the long term, stock prices tend to track the path of corporate profits.

Apple, which is due to report quarterly results Wednesday, contributed to the slide in technology stocks Tuesday. The stock lost 2.3%.

Google's parent company, Alphabet, dropped 2.2% following its mixed earnings report. Revenue came in better than Wall Street's expectations, but profit fell short.

Health care stocks had the biggest gains among the 11 sectors that make up the S&P 500 following better-than-expected reports two big drugmakers. Pfizer rose 2.5% after it raised its forecast for the year. Merck gained 3.5% after reporting big jumps in sales for its top two blockbuster drugs, cancer drug Keytruda and vaccine Gardasil.

General Motors climbed 4.3% after reporting quarterly results that were better than Wall Street expected, even though a strike by its employees brought its U.S. factories to a standstill.

Shares in Fiat Chrysler jumped 7.6% after The Wall Street Journal reported that the automaker is in merger talks with Peugeot maker PSA Group of France. Fiat Chrysler has been the subject of merger speculation for months.

Benchmark crude oil fell 27 cents to settle at $55.54 a barrel. Brent crude oil, the international standard, inched up 2 cents to close at $61.59 a barrel. Wholesale gasoline added 2 cents to $1.69 per gallon. Heating oil was unchanged at $1.96 per gallon. Natural gas rose 7 cents to $2.52 per 1,000 cubic feet.

Gold fell $5.00 to $1,487.40 per ounce, silver fell 4 cents to $17.78 per ounce and copper rose 1 cent to $2.69 per pound.

The dollar fell to 108.81 Japanese yen from 109.02 yen on Monday. The euro strengthened to $1.1110 from $1.1098.


----------



## bigdog

Stocks closed broadly higher on Wall Street Wednesday, sending the S&P 500 to a record high for the second time this week, as investors welcomed the Federal Reserve's decision to lower interest rates for the third time this year.

The central bank also indicated that it won't cut rates again in the coming months unless the economic outlook worsens. The Fed has been using its power to cut short-term interest rates in a bid to shore up the economy amid the costly impact from the U.S.-China trade war.

With its latest rate cut, the Fed has nearly reversed the four rate hikes that it made in 2018.

Stocks wobbled shortly after the Fed's mid afternoon announcement, which had been widely anticipated by traders. The market then rallied into the close, led by gains in technology and health care stocks. Bond yields fell.

The S&P 500 index rose 9.88 points, or 0.3%, to 3,046.77. The benchmark index also hit record high on Monday.

The Dow Jones Industrial Average gained 115.27, or 0.4%, to 27,186.69. The Nasdaq composite added 27.12 points, or 0.3%, to 8,303.98.

The Russell 2000 index of smaller company stocks fell 4.23 points, or 0.3%, to 1,572.85.

The S&P/ASX 200 index looks set to bounce back on Thursday. According to the latest SPI futures, the ASX 200 is expected to rise 0.1% or 6 points this morning.










https://www.usnews.com/news/busines...res-mostly-lower-following-wall-street-losses

*S&P 500 Hits New High as Traders Welcome Latest Fed Rate Cut*
Stocks closed broadly higher on Wall Street Wednesday, sending the S&P 500 to a record high for the second time this week, as investors welcomed the Federal Reserve's decision to lower interest rates for the third time this year.
By Associated Press, Wire Service Content Oct. 30, 2019, at 4:44 p.m.

By ALEX VEIGA, AP Business Writer

Stocks closed broadly higher on Wall Street Wednesday, sending the S&P 500 to a record high for the second time this week, as investors welcomed the Federal Reserve's decision to lower interest rates for the third time this year.

The central bank also indicated that it won't cut rates again in the coming months unless the economic outlook worsens. The Fed has been using its power to cut short-term interest rates in a bid to shore up the economy amid the costly impact from the U.S.-China trade war.

With its latest rate cut, the Fed has nearly reversed the four rate hikes that it made in 2018.

Stocks wobbled shortly after the Fed's mid afternoon announcement, which had been widely anticipated by traders. The market then rallied into the close, led by gains in technology and health care stocks. Bond yields fell.

"The rate cut was expected and also the market had been expecting a change in the language regarding another rate cut this year," said Quincy Krosby, chief market strategist at Prudential Financial. "The Fed just basically upped the bar for another rate cut by suggesting that the economy is in a good place."

The S&P 500 index rose 9.88 points, or 0.3%, to 3,046.77. The benchmark index also hit record high on Monday.

The Dow Jones Industrial Average gained 115.27, or 0.4%, to 27,186.69. The Nasdaq composite added 27.12 points, or 0.3%, to 8,303.98.

The Russell 2000 index of smaller company stocks fell 4.23 points, or 0.3%, to 1,572.85.

Major stock indexes in Europe closed mostly higher.

U.S. stock indexes were mostly flat ahead of the Fed's announcement Wednesday.

The central bank's latest move reduces the short-term rate it controls — which influences many consumer and business loan rates — to a range between 1.5% and 1.75%.

Lower rates are intended to encourage more borrowing and spending. Rising global risks have led the Fed to change course after hiking rates four times last year.

The market was expecting another cut this month, which shifted investors' focus to what the Fed might say about the prospects of further rate reductions.

During a news conference, Federal Reserve Chairman Jerome Powell signaled that the central bank will likely forgo additional cuts to its benchmark rates while economic growth and inflation matches the Fed's outlook.

"A few weeks back, the shift in language suggesting at least a pause would have been a disappointment," said Craig Birk, chief investment officer at Personal Capital. "But whether by design or not, we've seen a steady flow in expectations toward exactly what happened. So, it is not surprising the reaction is muted or moderately positive."

The central bank's rate reductions are intended as a kind of insurance against threats to the economy, which is in its 11th year of expansion, fueled by consumer spending and a solid if slightly weakened job market.

On Wednesday, the Commerce Department said the U.S. economy slowed to a modest growth rate of 1.9% in the July-September quarter. That surpassed economists' forecasts for even weaker growth, however.

The report indicated that consumer spending downshifted and businesses continued to trim their investments in response to trade war uncertainty and a weakening global economy.

Technology and health care companies drove much of the market's broad gains Wednesday. Microsoft rose 1.3%, while Johnson & Johnson climbed 2.9%.

Those sectors helped offset losses in energy and financial stocks.

Energy stocks took the heaviest losses. Chevron slid 1.5% and Helmerich & Payne fell 4.3%. The sector dropped 2.1%, lowering its gains for the year to just 1.1%. That's the smallest gain of all the sectors in the S&P 500.

Several big banks helped pull financial sector stocks lower as bond yields declined. The yield on the 10-year Treasury note dropped to 1.77% from 1.83% late Tuesday. The yield is a benchmark for interest rates that bank charge for mortgages and other loans. JPMorgan dropped 0.6% and Bank of America slid 1.4%.

Investors continued to focus on a steady flow of corporate earnings.

Mattel surged 13.8% after the toy maker breezed past Wall Street's third-quarter profit forecasts on strong sales of its Barbie and Hot Wheels brands. The company also put investors at ease when it said that it hasn't seen any impact from tariff increases on toys imported from China ahead of the Dec. 15 deadline.

General Electric jumped 11.5% after the industrial conglomerate raised its projections for a key measure of profitability despite a damaging trade fight and ongoing problems with Boeing's 737 Max, which GE helps make engines for.

Molson Coors Brewing, which trades under the symbol "TAP," fell 3.1% after announcing a restructuring plan as it faces declining beer sales. The company is laying off 500 workers worldwide as it streamlines operations in a bid to bring new products to market more quickly, like the canned wine and hard coffee it introduced this year.

Benchmark crude oil fell 48 cents to settle at $55.06 a barrel. Brent crude oil, the international standard, dropped 98 cents to close at $60.61 a barrel.

In other commodities trading, wholesale gasoline fell 3 cents to $1.66 per gallon. Heating oil declined 5 cents to $1.91 per gallon. Natural gas rose 5 cents to $2.69 per 1,000 cubic feet.

Gold rose $5.80 to $1,493.20 per ounce, silver rose 4 cents to $17.82 per ounce and copper fell 1 cent to $2.68 per pound.

The dollar rose to 108.97 Japanese yen from 108.81 yen on Tuesday. The euro strengthened to $1.1125 from $1.1110.

___


----------



## bigdog

Stocks closed broadly lower on Wall Street Thursday after investors got spooked by a published report that cast doubt on the prospects of a long-term U.S-China trade deal.

Bond prices surged, sending yields sharply lower, as traders turned cautious. The sell-off was a marked shift from a day earlier, when the S&P 500 notched its second all-time high this week.

Despite the sell-off, the benchmark index closed out October with its second straight monthly gain as an easing of trade tensions and surprisingly good corporate earnings gave investors more confidence.

Industrial stocks led the selling Thursday after a published report raised concerns about the prospects of a comprehensive trade deal between Washington and Beijing. That overshadowed remarks by President Donald Trump, who touted Thursday that both sides are working on finding a location to sign "phase one" of the trade deal.

The S&P 500 index fell 9.21 points, or 0.3%, to 3,037.56. The benchmark index is on track for its fourth-straight weekly gain and is now up 21.2% this year.

The Dow Jones Industrial Average dropped 140.46 points, or 0.5%, to 27,046.23. It had briefly slumped 268 points.

The Nasdaq slid 11.62 points, or 0.1%, to 8,292.36. The Russell 2000 index of smaller company stocks lost 10.40 points, or 0.7%, to 1,562.45.

It looks set to be a disappointing end to the week for the S&P/ASX 200 index. According to the latest SPI futures, the ASX 200 is expected to fall 0.4% or 27 points this morning.










https://www.usnews.com/news/busines...-follow-wall-street-higher-after-fed-rate-cut

*US Stocks Close Broadly Lower on New US-China Trade Jitters*
Stocks closed broadly lower on Wall Street Thursday after investors got spooked by a published report that cast doubt on the prospects of a long-term U.S-China trade deal.
By Associated Press, Wire Service Content Oct. 31, 2019, at 5:04 p.m.

By ALEX VEIGA, AP Business Writer

Stocks closed broadly lower on Wall Street Thursday after investors got spooked by a published report that cast doubt on the prospects of a long-term U.S-China trade deal.

Bond prices surged, sending yields sharply lower, as traders turned cautious. The sell-off was a marked shift from a day earlier, when the S&P 500 notched its second all-time high this week.

Despite the sell-off, the benchmark index closed out October with its second straight monthly gain as an easing of trade tensions and surprisingly good corporate earnings gave investors more confidence.

Industrial stocks led the selling Thursday after a published report raised concerns about the prospects of a comprehensive trade deal between Washington and Beijing. That overshadowed remarks by President Donald Trump, who touted Thursday that both sides are working on finding a location to sign "phase one" of the trade deal.

"It's mainly the concerns about whether there will be some kind of trade deal with China, both the first round and the bigger agreement that, obviously, appears further away," said Kate Warne, chief investment strategist at Edward Jones. "When there's good news on trade negotiations, stocks tend to move up, and when there's bad news or concerns, stocks tend to sell off."

The S&P 500 index fell 9.21 points, or 0.3%, to 3,037.56. The benchmark index is on track for its fourth-straight weekly gain and is now up 21.2% this year.

The Dow Jones Industrial Average dropped 140.46 points, or 0.5%, to 27,046.23. It had briefly slumped 268 points.

The Nasdaq slid 11.62 points, or 0.1%, to 8,292.36. The Russell 2000 index of smaller company stocks lost 10.40 points, or 0.7%, to 1,562.45.

Major stock indexes in Europe finished lower.

The flood of company earnings reports and a truce between the U.S. and China as the nations work to finalize "phase one" of a trade deal largely put investors' worries about trade on the backburner this month. But a Bloomberg report Thursday helped put investors in a selling mood. The report, citing unnamed sources, suggested Chinese officials are doubtful that they will be able to reach a comprehensive, long-term trade deal with the U.S.

The world's two biggest economies have wrangled for more than 15 months over U.S. allegations that China steals technology, forces businesses to hand over trade secrets and unfairly subsidizes its technology companies in an aggressive drive to supplant American technological dominance.

They have imposed tariffs on hundreds of billions of dollars' worth of each other's goods in a trade fight that has slowed global economic growth.

Negotiators from both countries are trying to settle details of the phase one deal, which sidesteps some of the biggest issues dividing the countries.

"You have the Chinese saying, 'Gee, they're not sure there's a possibility for a long-term negotiation here, which is just another reminder that there are big issues still on the table," said Paul Christopher, head of global market strategy for Wells Fargo Investment Institute. "A phase one deal is not really much of a deal at all."

Caterpillar and 3M helped pull industrial sector stocks broadly lower Thursday. Caterpillar fell 1.8% and 3M dropped 2%.

Financial stocks also took heavy losses as bond yields made a significant move lower. The yield on the 10-year Treasury fell to 1.69% from 1.79% late Wednesday.

Yields were already falling in the early going and were given an extra shove lower following a surprisingly weak survey on business activity in the Midwest. A separate report showed that U.S. consumer spending ticked up last month, though it came in below economists' expectations.

Technology stocks also fell, despite solid gains from Apple following an encouraging earnings report. The iPhone maker rose 2.3%.

Utilities held up better than the rest of the market as investors moved money into safe-play holdings.

Communications stocks also bucked the broader market slide. Facebook gained 1.8% after releasing surprisingly good third-quarter results.

Investors have been assessing a steady flow of earnings and economic reports this week. They will get another batch of economic data Friday with the government's release of October employment data, though a 40-day strike against General Motors is expected to dampen the jobs snapshot.

Benchmark crude oil fell 88 cents to settle at $54.18 a barrel. Brent crude oil, the international standard, dropped 38 cents to close at $60.23 a barrel. Wholesale gasoline fell 3 cents to $1.63 per gallon. Heating oil declined 3 cents to $1.88 per gallon. Natural gas fell 6 cents to $2.63 per 1,000 cubic feet.

Gold rose $18.20 to $1,511.40 per ounce, silver rose 19 cents to $18.01 per ounce and copper fell 5 cents to $2.63 per pound.

The dollar fell to 107.98 Japanese yen from 108.97 yen on Wednesday. The euro strengthened to $1.1145 from $1.1125.


----------



## bigdog

Stocks powered to records Friday after an encouraging jobs report gave reassurance that the economy is still solid, despite the pain U.S. factories are feeling from President Donald Trump's trade war.

The Labor Department's report showed that employers added more jobs in October than economists expected, and hiring was stronger in prior months than previously thought. The numbers were encouraging enough for investors to overlook yet another report showing U.S. manufacturing is weakening more than expected.

The S&P 500 rose 29.35 points, or 1%, to 3,066.91 and set an all-time high for the third time this week. It capped a fourth straight week of gains, the longest winning streak for the index since the start of March.

The Nasdaq composite gained 94.04, or 1.1%, to 8,386.40 and clinched a record for the first time since July. The Dow Jones Industrial Average gained 301.13, or 1.1%, to 27,347.36. It's within 12 points of the record it set in July.

Together, Friday's reports solidified Wall Street's view that the economy is nestled in a sweet spot for markets. The job market is strong enough to encourage spending by households, which has been the economy's driving force. That can hopefully make up for the downturn in investment by businesses, as CEOs hold off on spending given all the uncertainty about global trade.

This posting will be one hour later from next week --- 3 Nov 2019 - New York Daylight Saving Time Ends










*Chart DOW vs AORD*





https://www.usnews.com/news/busines...an-shares-mixed-on-new-us-china-trade-jitters

*Stocks Hit Records as Strong Jobs Report Calms Trade Worries*
Stocks powered to records Friday after a surprisingly strong jobs report reassured investors that the economy is still solid, despite the pain U.S. factories are feeling from President Donald Trump's trade war.
By Associated Press, Wire Service Content Nov. 1, 2019, at 4:29 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — Stocks powered to records Friday after an encouraging jobs report gave reassurance that the economy is still solid, despite the pain U.S. factories are feeling from President Donald Trump's trade war.

The Labor Department's report showed that employers added more jobs in October than economists expected, and hiring was stronger in prior months than previously thought. The numbers were encouraging enough for investors to overlook yet another report showing U.S. manufacturing is weakening more than expected.

The S&P 500 rose 29.35 points, or 1%, to 3,066.91 and set an all-time high for the third time this week. It capped a fourth straight week of gains, the longest winning streak for the index since the start of March.

The Nasdaq composite gained 94.04, or 1.1%, to 8,386.40 and clinched a record for the first time since July. The Dow Jones Industrial Average gained 301.13, or 1.1%, to 27,347.36. It's within 12 points of the record it set in July.

Together, Friday's reports solidified Wall Street's view that the economy is nestled in a sweet spot for markets. The job market is strong enough to encourage spending by households, which has been the economy's driving force. That can hopefully make up for the downturn in investment by businesses, as CEOs hold off on spending given all the uncertainty about global trade.

Such a balance should in turn keep the Federal Reserve holding interest rates steady at their low levels, after it cut rates earlier in the week for the third time this year, economists said. Low interest rates can goose economic activity. They also make stocks more attractive as investments relative to bonds.

Treasury yields climbed as optimism rose and traders pared back bets that the Fed will cut interest rates again in the next few months. The yield on the 10-year Treasury climbed to 1.71% from 1.69% late Thursday. The two-year yield, which moves more on expectations of Fed actions, rose to 1.56% from 1.55%.

Earlier in the day, yields were under pressure immediately after the manufacturing report's release, which showed a third straight month of contraction. The report echoed weak data points on manufacturing from around the world as factories feel the brunt of the global trade war.

But even there, economists see some glimmers of optimism, such as a rebound in export orders, said Derek Hamilton, global economist at Ivy Investments. And after combining them with Friday's better-than-expected jobs report, investors halved their expectations for another Fed rate cut this year, down to a probability of 11% from 22% a day earlier.

"Over the last decade, we've had these mini-cycles where manufacturing activity slows quite a bit, but the consumer keeps the economy going, and I think that's what's going on right now," Hamilton said.

The wild card, as has been the case since Trump professed in early 2018 that trade wars are good and easy to win, is what happens in U.S.-China trade talks. The world's largest economies have agreed to at least a temporary truce in what Trump has dubbed "phase one" of a trade deal. But uncertainty reigns over what will come of the talks.

"If we wake up tomorrow morning and get a tweet from President Trump that the deal is off, we're raising tariffs, then all this is out the window," Hamilton said.

In the interim, companies have continued to report profits that are weaker than a year earlier, but not as bad as Wall Street had expected. So far, roughly 70% of the companies in the S&P 500 have reported how much they made from July through September, and the index is on pace for a decline of 2.8%, according to FactSet.

The slowing global economy is a big reason for the drop, as is the fact that companies are no longer getting a boost from the first year of lower tax rates. But the drop isn't as bad as the 4% decline that analysts were forecasting earlier.

A stronger-than-expected profit report from Exxon Mobil helped drive energy stocks to the biggest gain of the 11 sectors that make up the S&P 500. Exxon Mobil climbed 3%, and energy stocks overall rose 2.5%.

In overseas stock markets, London's FTSE 100 rose 0.7%, France's CAC 40 gained 0.6% and Germany's DAX returned 0.7%. The Kospi in South Korea gained 0.8%, the Hang Seng in Hong Kong added 0.7% and Japan's Nikkei 225 was an outlier, down 0.3%.

Benchmark crude oil rose $2.02 to settle at $56.20 a barrel. Brent crude oil, the international standard, rose $2.07 to $61.69 a barrel. Wholesale gasoline rose 6 cents to $1.66 per gallon. Heating oil climbed 6 cents to $1.93 per gallon. Natural gas rose 8 cents to $2.71 per 1,000 cubic feet.

Gold fell $3.40 to $1,508.00 per ounce, silver fell 1 cent to $18.00 per ounce and copper rose 2 cents to $2.65 per pound.

The dollar rose to 108.26 Japanese yen from 107.98 yen on Thursday. The euro strengthened to $1.1163 from $1.1145.

8329


----------



## bigdog

The Dow Jones Industrial Average returned to a record on Monday, joining other market gauges at all-time highs, as the stock market's rally carried into a fifth week.

Oil producers, banks and other stocks that do well when the economy is strengthening again led the way. It's a notable shift in leadership following months of struggles for what Wall Street calls "cyclical" stocks, which lagged due to worries about trade wars and the slowing global economy.

Behind the resurgence for cyclicals are rising hopes that the United States and China are making progress in negotiations on their trade dispute, or at least that they're no longer making it worse. Reports last week also showed that the job market is continuing to grow, corporate profits aren't doing as badly as Wall Street expected and interest rates will likely remain low for a while.

Even in manufacturing, which has been hit particularly hard by President Donald Trump's trade war, investors saw some hopes that things may be hitting bottom soon.

The Dow climbed 114.75 points, or 0.4%, to 27,462.11 and surpassed its prior all-time high set in July.

The S&P 500 rose 11.36, or 0.4%, to 3,078.27, and the Nasdaq composite added 46.80, or 0.6%, to 8,433.20. Both the S&P 500 and Nasdaq also clinched records.

According to the latest SPI futures, the ASX 200 is expected to open 38 points or 0.6% higher this morning.











https://www.usnews.com/news/busines...rkets-follow-wall-street-rise-on-us-jobs-data

*Dow Hits Record as Stock Market Rally Extends Into 5th Week*
The Dow Jones Industrial Average returned to a record on Monday, joining other market gauges at all-time highs, as a rally in the stock market carried into its fifth week.
By Associated Press, Wire Service Content Nov. 4, 2019, at 4:32 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — The Dow Jones Industrial Average returned to a record on Monday, joining other market gauges at all-time highs, as the stock market's rally carried into a fifth week.

Oil producers, banks and other stocks that do well when the economy is strengthening again led the way. It's a notable shift in leadership following months of struggles for what Wall Street calls "cyclical" stocks, which lagged due to worries about trade wars and the slowing global economy.

Behind the resurgence for cyclicals are rising hopes that the United States and China are making progress in negotiations on their trade dispute, or at least that they're no longer making it worse. Reports last week also showed that the job market is continuing to grow, corporate profits aren't doing as badly as Wall Street expected and interest rates will likely remain low for a while.

Even in manufacturing, which has been hit particularly hard by President Donald Trump's trade war, investors saw some hopes that things may be hitting bottom soon.

The Dow climbed 114.75 points, or 0.4%, to 27,462.11 and surpassed its prior all-time high set in July.

The S&P 500 rose 11.36, or 0.4%, to 3,078.27, and the Nasdaq composite added 46.80, or 0.6%, to 8,433.20. Both the S&P 500 and Nasdaq also clinched records.

"Investors are doing what we're theoretically supposed to be doing: We're looking out at the next 12 to 18 months and investing on the basis of where it's going, not on where we're at today," said Tom Stringfellow, chief investment officer at Frost Investment Advisors.

"We are investing on expectations that whatever the worst is, we're there now."

Of course, all that optimism could wash away quickly if U.S.-China trade talks take yet another turn for the worse, Stringfellow said. But investors likely need to see only incremental improvements, rather than comprehensive deals, to keep the momentum going, he said.

Rising optimism in the market was evident not only in U.S. stock indexes but also in higher yields for Treasurys. When investors feel less need for safety, the crowd thins to buy Treasury bonds. And when prices fall for Treasurys, their yields rise.

The yield on the 10-year Treasury climbed to 1.77% from 1.72% late Friday. Not only that, the gap between the yields of the 10-year and two-year Treasurys widened, which many on Wall Street see as a sign of increased confidence in the economy.

The two-year yield rose to 1.57% from 1.55%, and the gap between it and the 10-year yield is close to its largest since late July.

Such a widening spread helps banks, which make money by borrowing money at short-term rates and lending it out at longer-term rates.

Financial stocks in the S&P 500 climbed 0.9%, aided by a 1.9% jump for Bank of America and a 1.8% gain for Citigroup.

Other cyclical sectors, such as energy and industrials, were also ahead of the pack.

Chevron jumped 4.6%, and Exxon Mobil added 3% as energy stocks overall climbed 3.1% after the price of oil rose.

A stronger global economy would mean more demand for energy, and benchmark U.S. crude rose 34 cents to $56.54 per barrel. Brent crude, the international standard, rose 44 cents to $62.13 a barrel.

Defensive stocks, meanwhile, lagged. Utilities fell 1.3% for the largest loss in the S&P 500, and real-estate stocks were down 1.1%.

It's a reprieve for cyclicals, which have been becoming a smaller part of the stock market. Investors instead have focused on defensive stocks that can do well even when the economy is turning sour or on companies that can grow almost regardless of the economy, such as Amazon.com, Apple and other big technology companies.

Cyclical companies recently made up about 34% of the S&P 500, down from 41% in early 2018, according to James Paulsen, chief investment strategist at the Leuthold Group.

Part of the reason for the shift into cyclical stocks may simply be the calendar. It's what typically happens late in the year, said Sam Stovall, chief investment strategist at CFRA.

But the shift doesn't necessarily mean the all-clear for the economy and the market. Barry Bannister, head of institutional equity strategy at Stifel, sees cyclical stocks doing better than defensive stocks into the middle of 2020, but he sees the S&P 500 falling back to 3,050 by the end of the year and rising modestly to 3,100 in 2020.

Monday's biggest loss in the S&P 500 came from Under Armour, which said it has been cooperating with federal regulators for two years on an investigation into its accounting practices. Its Class A shares plunged 18.9%.

In overseas stock markets, the French CAC 40 jumped 1.1%, and Germany's DAX returned 1.4%. The FTSE 100 in London added 0.9%, South Korea's Kospi rose 1.4% and the Hang Seng in Hong Kong climbed 1.6%.

Wholesale gasoline was unchanged at $1.66 per gallon. Heating oil climbed 1 cent to $1.94 per gallon. Natural gas rose 11 cents to $2.82 per 1,000 cubic feet.

Gold was unchanged $1,508.00 per ounce, silver rose 1 cent to $18.01 per ounce and copper rose 2 cents to $2.67 per pound.

The dollar rose to 108.64 Japanese yen from 108.26 yen on Friday. The euro strengthened to $1.1127 from $1.1163.


----------



## bigdog

It's the market that continues mostly upward, even though there's still plenty to worry about.

The Dow Jones Industrial Average and the Nasdaq closed at record highs yet again on Tuesday, and the S&P 500 closed barely below the all-time high it reached a day earlier.

The gains in recent weeks have been driven by company earnings that haven't been nearly as terrible as Wall Street was expecting, interest rate cuts, hopes for a trade truce and a steadily growing economy.

The upbeat mood marks a pivot from the summer, when worries about trade, Britain's potentially messy exit from the European Union and the slowing global economy loomed over the market.

In Tuesday's trading, the Dow climbed 30.52 points, or 0.1%, to 27,492.63, the S&P 500 fell 3.65 points, or 0.1 percent, to 3,074.62 and the Nasdaq composite rose 1.48 points, or less than 0.1%, to 8,434.68.

The S&P/ASX 200 index looks set to push higher again on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open 20 points or 0.3% higher this morning.










https://www.usnews.com/news/busines...an-markets-advance-following-record-dow-close

*Stocks Have Been Rallying This Fall After a Weak Summer*
The Dow Jones Industrial Average and the Nasdaq closed at record highs yet again on Tuesday, and the S&P 500 closed barely below the all-time high it reached a day earlier.
By Associated Press, Wire Service Content Nov. 5, 2019, at 4:49 p.m. 

By CHRIS RUGABER and KEN SWEET, The Associated Press

NEW YORK (AP) — It's the market that continues mostly upward, even though there's still plenty to worry about.

The Dow Jones Industrial Average and the Nasdaq closed at record highs yet again on Tuesday, and the S&P 500 closed barely below the all-time high it reached a day earlier.

The gains in recent weeks have been driven by company earnings that haven't been nearly as terrible as Wall Street was expecting, interest rate cuts, hopes for a trade truce and a steadily growing economy.

The upbeat mood marks a pivot from the summer, when worries about trade, Britain's potentially messy exit from the European Union and the slowing global economy loomed over the market.

Here's a closer look at the factors that have been sending the U.S. stock market to record highs this fall.

CORPORATE EARNINGS AIN'T SO BAD

Wall Street got through the bulk of third-quarter earnings season last week, and the results were much better than what investors had been anticipating.

As of Friday, 71% of the members of the S&P 500 index have reported their results, and 76% of them have reported better-than-forecast results, according to FactSet. Also, 61% have reported higher than expected sales, which is important in the wake of concerns about an economic slowdown and the U.S.-China trade war.

This doesn't mean earnings have been stellar. Expectations were low this quarter, and on a whole, profits in the S&P 500 are down 2.7% from a year ago, according to FactSet. But since companies are beating investors' mediocre expectations, it's provided the market with a base on which to rally upon.

"Of course, any decline is not good news," said Brad McMillan, chief investment officer for Commonwealth Financial Network, in a note to investors. "But the fact that it is smaller than expected is positive_and earnings are expected to resume growth in the fourth quarter."

A DURABLE US ECONOMY

The U.S. economy has repeatedly defied fears of a recession, which had resurfaced in late summer and early fall as trade tensions escalated. Reports on jobs, growth and consumer confidence in the past couple of weeks have pointed to an economy that is overcoming global threats and expanding for a record-long 11th straight year.

Last week, the government estimated that employers added 128,000 jobs in October. It was a modest gain, but the figure was depressed by the temporary loss of about 50,000 striking GM workers and the subtraction of 20,000 short-term Census jobs. Excluding those drags, the job gain would have been much higher. The government also revised up its estimate of job growth for August and September.

Overall, the data suggested that most employers have looked past risks from a global slowdown and the U.S.-China trade war, threats that had caused much concern just a couple of months earlier. Over time, increased hiring tends to fuel consumer spending, which, in turn, could help lift corporate earnings and share prices.

The government also said last week that the nation's gross domestic product, the broadest gauge of economic growth, expanded at a 1.9% annual rate in the July-September quarter. Though sluggish, that figure was roughly in line with the average annual growth throughout the expansion that began in 2009. It suggested that the economy remains resilient.

And on Tuesday, an index that measures growth in the economy's vast service sector — made up of industries ranging from restaurants to banking to health care — rose in October to show solid expansion after having touched a three-year low in September.

___

HOPES FOR DEFUSING GLOBAL THREATS

One of the biggest drags on business confidence and investment has been the uncertainty and higher costs injected by the Trump administration's trade war with China. The administration has imposed tariffs on roughly three-quarters of China's exports, including toys, electronics and other consumer goods. Beijing has retaliated with tariffs on most U.S. exports to China.

Yet since early October, a thaw has developed. The two sides have moved toward a potential first-stage deal that probably would lead to the cancellation of further tariffs that President Donald Trump has threatened to impose and possibly to the lifting of some existing tariffs. Optimism has risen that an initial agreement might be reached this month.

Another source of uncertainty has been the prospect of a disorderly exit by the United Kingdom from the European Union. Yet that concern was postponed after the EU agreed last month to delay a deadline for the U.K.'s departure from Oct. 31 to Jan. 31 amid signs that a Brexit agreement might be reached.

With these uncertainties fading if not lifting, it's possible that U.S. companies will soon resume investing in machinery, computers and other equipment to expand their businesses. That would provide another source of growth for the U.S. economy, in addition to the consumer spending that has nearly alone driven the expansion for the past six months.

Federal Reserve Chairman Jerome Powell cited the easing global tensions as a factor in why the Fed will likely keep interest rates unchanged when it next meets in December after three rate cuts this year.

___

ULTRA-LOW INTEREST RATES

Those reductions in the benchmark short-term interest rate the Fed controls have also contributed to rising share prices.

The Fed's rate cuts have helped keep longer-term rates low. The yield on the 10-year Treasury is now just 1.9%, down from 3.2% nearly a year ago.

With the 10-year yield barely above the 1.7% inflation rate, many investors feel compelled to seek out higher returns in the stock market, thereby inflating share prices to levels that some strategists see as worrisome.

And while Powell hinted that the Fed will likely stop cutting rates, he also made clear that rate hikes aren't likely in the foreseeable future. That would mean that Treasury yields will remain low.

In Tuesday's trading, the Dow climbed 30.52 points, or 0.1%, to 27,492.63, the S&P 500 fell 3.65 points, or 0.1 percent, to 3,074.62 and the Nasdaq composite rose 1.48 points, or less than 0.1%, to 8,434.68.

The price of U.S. crude oil rose 69 cents to settle at $57.23 a barrel. Brent crude, the international standard, rose 83 cents to $62.96 a barrel. Wholesale gasoline rose 1 cent to $1.67 per gallon. Heating oil climbed 2 cents to $1.96 per gallon. Natural gas rose 4 cents to $2.86 per 1,000 cubic feet.

Gold fell $27.20 to $1,480.80 per ounce, silver fell 49 cents to $17.52 per ounce and copper fell 3 cents to $2.70 per pound.

The dollar rose to 109.24 Japanese yen from 108.64 yen on Tuesday. The euro weakened to $1.1065 from $1.1127.


----------



## bigdog

A meandering day of trading left U.S. stock indexes close to their record highs on Wednesday, as strong gains for health care companies jousted with sharp drops in energy stocks.


The market took a decisive turn lower in the middle of the day after a report from Reuters said the United States and China may delay signing "phase one" of their trade deal until December, but the drop didn't last long. After sinking 0.3%, the S&P 500 erased its loss within about two hours.

By the end of the day, the S&P 500 index was up 2.16 points, or 0.1%, at 3,076.78. It's within two points of its record.

The Dow Jones Industrial Average dipped 0.07 points, less than 0.1%, to 27,492.56, and the Nasdaq composite fell 24.05, or 0.3%, to 8,410.63.

The U.S.-China trade war has been a top concern for investors since early 2018, and momentum has recently been tilting toward at least a partial agreement. That, combined with encouraging reports on the economy and corporate profits, have recently propelled U.S. indexes past their prior peaks from July to all-time highs.

Investor optimism has steadied somewhat, holding back global markets but a positive open for the ASX looks ahead with futures at 7.50am AEDT pointing to a gain of 29 points, or 0.4 per cent, at the open.










https://www.usnews.com/news/busines...-stocks-mixed-on-possible-us-china-trade-snag

*US Stock Indexes Hit Pause, Hold Close to Record Levels*
Stock indexes held close to their record heights Wednesday as strong gains for health care companies helped make up for sharp drops in energy stocks.
By Associated Press, Wire Service Content Nov. 6, 2019, at 4:31 p.m. 

By STAN CHOE, AP Business Writer

NEW YORK (AP) — A meandering day of trading left U.S. stock indexes close to their record highs on Wednesday, as strong gains for health care companies jousted with sharp drops in energy stocks.

The market took a decisive turn lower in the middle of the day after a report from Reuters said the United States and China may delay signing "phase one" of their trade deal until December, but the drop didn't last long. After sinking 0.3%, the S&P 500 erased its loss within about two hours.

By the end of the day, the index was up 2.16 points, or 0.1%, at 3,076.78. It's within two points of its record.

The Dow Jones Industrial Average dipped 0.07 points, less than 0.1%, to 27,492.56, and the Nasdaq composite fell 24.05, or 0.3%, to 8,410.63.

The U.S.-China trade war has been a top concern for investors since early 2018, and momentum has recently been tilting toward at least a partial agreement. That, combined with encouraging reports on the economy and corporate profits, have recently propelled U.S. indexes past their prior peaks from July to all-time highs.

While acknowledging that trade talks could easily falter again, Jeff Mills, chief investment officer at Bryn Mawr Trust, said both sides have an incentive to come to a deal. China's economic growth has slowed under the weight of increased U.S. tariffs. President Donald Trump's chances of re-election, meanwhile, likely hinge in large part on the economy, and a worsening trade war would only sour it.

Mills is optimistic the economy will show more life after the Federal Reserve cut interest rates three times this year, if trade tensions continue to ratchet lower. It would be a sharp turnaround from just a few months ago, when worries were spiking that Trump's trade war and four interest-rate increases by the Federal Reserve in 2018 could tip the economy into a recession.

"People know this intellectually but tend not to focus on it: Changes in interest rates impact the economy with a significant lag," Mills said. "What we've been seeing the last year or so is the economy absorbing the rise in interest rates that we experienced in 2018."

Early next year, the economy should start to get a boost from the Fed's three rate cuts since the summer, "and I would expect the market to see the recession narrative as overblown," he said.

Until then, though, markets are still trading on every whiff of news about trade. Wednesday's moves following the report of a possible "phase one" delay demonstrated that.

"Trade is a key issue but it's difficult to gain an edge because no deal has been signed," said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management. "It's proving to be challenging for investors."

One thing more certain for investors has been the steady flow of better-than-expected profit reports from big companies. Over the last month, hundreds have told investors how much they made from July through September, and in most cases the declines were not as steep as analysts had forecast.

With about 80% of reports in hand, S&P 500 companies on track to report a drop of 2.6% in earnings from a year earlier, according to FactSet. That's versus initial expectations for a 4% decline.

Health care stocks had some of Wednesday's most notable reports. CVS Health helped lead the way with a 5.4% gain after it reported a stronger profit for the latest quarter than analysts expected and raised its forecast for the year. Humana jumped 3.5% after it also turned in a better-than-expected earnings report.

Together, they helped drive health care stocks in the S&P 500 to a 0.6% gain, the largest among the 11 sectors that make up the index.

On the losing end were energy stocks, which sank 2.3% for the market's worst losses after oil prices slumped.

Exxon Mobil lost 2.2%, and oilfield services provider Schlumberger fell 3.2%. Occidental Petroleum tumbled 5.5%.

Benchmark U.S. crude lost 88 cents to $56.35 per barrel after a report showed that the amount of oil supplies in inventories rose last week. Brent crude fell $1.22 to $61.74.

Treasury yields dipped, putting at least a temporary halt to the strong gains they've made in recent days. The yield on the 10-year Treasury fell to 1.82% from 1.86% late Tuesday.

Global markets mostly drifted higher. France's CAC 40 rose 0.3%, Germany's DAX returned 0.2% and the FTSE 100 in London added 0.1%. The Japanese Nikkei 225 rose 0.2%, the South Korean Kospi gained 0.1% and the Hang Seng in Hong Kong was virtually flat.

In commodities markets, wholesale gasoline fell 5 cents to $1.63 per gallon. Heating oil lost 3 cents to $1.93 per gallon. Natural gas fell 3 cents to $2.83 per 1,000 cubic feet.

Gold rose $9.40 to $1,490.20 per ounce, silver rose 4 cents to $17.56 per ounce and copper fell 3 cents to $2.66 per pound.

The dollar fell to 108.93 Japanese yen from 109.24 yen on Tuesday. The euro edged up to $1.1069 from $1.1065.


----------



## bigdog

In the stock market, it's all about trade now.

Stocks were jumping early Thursday after China said both sides in the U.S.-China trade war had agreed to roll back tariffs if their talks progress. But an afternoon report from Reuters citing fierce opposition within the White House to the agreement undercut the enthusiasm, and the majority of the market's gains evaporated.

By the end of trading, the S&P 500 was up 8.40 points, or 0.3%, at 3,085.18. It managed to set a record for the second time this week, but it had been on pace for a bigger, 0.7% gain earlier in the day.

The Dow Jones Industrial Average climbed 182.24, or 0.7%, to 27,674.80 and also set a record. The Nasdaq composite finished just shy of its all-time high after rising 23.89, or 0.3%, to 8,434.52.

Encouraging reports on the economy and corporate profits have helped drive stocks back to record heights in recent weeks. The U.S. job market remains strong, and the Federal Reserve has cut interest rates three times since the summer to bolster the economy. Earnings for big companies, meanwhile, weren't as bad in the summer as Wall Street had feared.

That leaves the U.S. trade war as the wildcard for the global economy, and markets are trading on every whiff of movement about it as a result.

It looks set to be a positive finish to the week for the S&P/ASX 200 index on Friday. According to the latest SPI futures, the ASX 200 is expected to open 16 points or 0.25% higher this morning.










https://www.usnews.com/news/busines...asian-stocks-mixed-after-us-indexes-hit-pause

*Stocks Stumble to More Records on Conflicting Trade Reports*
The S&P 500 pushed to another record Thursday after China's commerce ministry said that both sides in the U.S.-China trade war had agreed to roll back tariffs on each other's goods if talks continue to progress.
By Associated Press, Wire Service Content Nov. 7, 2019, at 4:47 p.m.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — In the stock market, it's all about trade now.

Stocks were jumping early Thursday after China said both sides in the U.S.-China trade war had agreed to roll back tariffs if their talks progress. But an afternoon report from Reuters citing fierce opposition within the White House to the agreement undercut the enthusiasm, and the majority of the market's gains evaporated.

By the end of trading, the S&P 500 was up 8.40 points, or 0.3%, at 3,085.18. It managed to set a record for the second time this week, but it had been on pace for a bigger, 0.7% gain earlier in the day.

The Dow Jones Industrial Average climbed 182.24, or 0.7%, to 27,674.80 and also set a record. The Nasdaq composite finished just shy of its all-time high after rising 23.89, or 0.3%, to 8,434.52.

Encouraging reports on the economy and corporate profits have helped drive stocks back to record heights in recent weeks. The U.S. job market remains strong, and the Federal Reserve has cut interest rates three times since the summer to bolster the economy. Earnings for big companies, meanwhile, weren't as bad in the summer as Wall Street had feared.

That leaves the U.S. trade war as the wildcard for the global economy, and markets are trading on every whiff of movement about it as a result.

"It's not that trade is more important to the market than economic growth or than the Fed," said Steve Chiavarone, equity strategist at Federated Investors. "It's that the market has already priced in that picture" of a still solid economy and easier interest rates.

"What's left to be determined is trade, and there's a greater amount of uncertainty because we've had head fakes before."

President Donald Trump's trade war has been a top concern for investors since early 2018. Increased tariffs not only raise costs and sap profits for U.S. companies. They also can and have made CEOs hesitant to spend on new factories, expansions and other investments given all the uncertainties about what the rules of trade will be.

Momentum has been moving toward a deal, at least an incremental one that prevents conditions from getting worse.

Altogether, the improvements mean the worries about a possible recession that dominated markets just a few months ago are diminishing. That in turn has more on Wall Street confident that this bull market for stocks, which already is the longest on record, can keep going.

More than a dozen companies joined the lengthy parade of those reporting stronger profits for the latest quarter than analysts expected.

Qualcomm jumped 6.3% after it reported both revenue and earnings that topped Wall Street's forecasts, and Ralph Lauren surged 14.7% for the biggest gain in the S&P 500 following its own better-than-expected results.

Companies are no longer getting the benefit of the first year of lower tax rates, and they're also contending with a slowing global economy weighing on their sales. But the S&P 500 is on track to report a drop of 2.5% in third-quarter earnings per share from a year earlier, versus the 4% that analysts initially expected, according to FactSet.

In a sign of increased optimism about the economy, the yield on the 10-year Treasury climbed to 1.92% from 1.81% late Wednesday. It has risen sharply over the last five weeks and is close to its highest level since the start of August.

The jump in yields helped send bank stocks, whose profits benefit from higher rates for mortgages and other loans, to some of the market's biggest gains.

Other market leaders included oil companies and others that Wall Street calls "cyclical" stocks because their profits are so closely tied to where the economy is in its growth-and-recession cycle.

Energy stocks jumped 1.6% for the largest gain among the 11 sectors that make up the S&P 500, and financial stocks climbed 0.7%.

It's a turnaround from a few months ago, when utilities and other so-called "defensive" areas led the way.

On the losing side were several companies that focus on travel, which sank after reporting weaker-than-expected quarterly results. TripAdvisor plunged 22.4%, and Expedia Group plummeted 27.4%.

In overseas markets, Germany's DAX returned 0.8%, France's CAC 40 rose 0.4% and the FTSE 100 in London added 0.1%. Japan's Nikkei 225 rose 0.1%, the Hang Seng in Hong Kong climbed 0.6% and the Kospi in South Korea was close to flat.

Benchmark crude oil rose 80 cents to settle at $57.15 a barrel. Brent crude oil, the international standard, rose 55 cents to $62.29 a barrel. Wholesale gasoline rose 1 cent to $1.64 per gallon. Heating oil declined 1 cent to $1.92 per gallon. Natural gas fell 6 cents to $2.77 per 1,000 cubic feet.

Gold fell $26.00 to $1,464.20 per ounce, silver fell 59 cents to $16.97 per ounce and copper rose 6 cents to $2.72 per pound.

The dollar rose to 109.31 Japanese yen from 108.93 yen on Wednesday. The euro weakened to $1.1048 from $1.1069.


----------



## bigdog

The stock market capped another week of healthy gains on Friday, but it ended on more of a befuddled note than a bang as confusion about the U.S.-China trade war hung over the market.

Stocks wobbled between small gains and losses through the day amid conflicting signals about the progress being made by U.S. and Chinese negotiators. President Donald Trump said he has not agreed to roll back any tariffs, just a day after a Chinese official said the two sides had agreed to do just that if talks progress.

Stocks and bond yields dipped immediately after Trump told reporters at the White House, "I haven't agreed to anything." But after flip-flopping through the day, the S&P 500 turned higher in the last hour of trading and closed at a record 3,093.08, up 7.90, or 0.3%.

It's the fifth straight week of gains for the index, which matches its longest winning streak in the last two years.

The Dow Jones Industrial Average edged up 6.44 points, or less than 0.1%, to 27,681.24, and the Nasdaq composite gained 40.80, or 0.5%, to 8,475.31.

Even with the conflicting signals on the trade war, momentum has seemed to be in the direction of a stopgap deal. Wall Street hopes only that it will keep the trade war from worsening: Another round of tariffs on Chinese goods is scheduled to begin next month. Investors aren't expecting a grand bargain anytime soon that solves all the problems between the world's two largest economies.










*Chart DOW vs AORD*





https://www.usnews.com/news/busines...ks-lower-amid-uncertainty-over-us-china-trade

*Stocks Push Past Latest Trade-War Confusion to More Records*
Stocks wobbled between small gains and losses through Friday amid conflicting signals about the progress being made by U.S. and Chinese negotiators.
By Associated Press, Wire Service Content Nov. 8, 2019, at 4:43 p.m.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — The stock market capped another week of healthy gains on Friday, but it ended on more of a befuddled note than a bang as confusion about the U.S.-China trade war hung over the market.

Stocks wobbled between small gains and losses through the day amid conflicting signals about the progress being made by U.S. and Chinese negotiators. President Donald Trump said he has not agreed to roll back any tariffs, just a day after a Chinese official said the two sides had agreed to do just that if talks progress.

Stocks and bond yields dipped immediately after Trump told reporters at the White House, "I haven't agreed to anything." But after flip-flopping through the day, the S&P 500 turned higher in the last hour of trading and closed at a record 3,093.08, up 7.90, or 0.3%.

It's the fifth straight week of gains for the index, which matches its longest winning streak in the last two years.

The Dow Jones Industrial Average edged up 6.44 points, or less than 0.1%, to 27,681.24, and the Nasdaq composite gained 40.80, or 0.5%, to 8,475.31.

"The general tone of the market will continue to be very cautiously optimistic," said JJ Kinahan, chief market strategist at TD Ameritrade.

Even with the conflicting signals on the trade war, momentum has seemed to be in the direction of a stopgap deal. Wall Street hopes only that it will keep the trade war from worsening: Another round of tariffs on Chinese goods is scheduled to begin next month. Investors aren't expecting a grand bargain anytime soon that solves all the problems between the world's two largest economies.

Economic reports, meanwhile, have been encouraging recently and show the job market remains strong. Interest rates are low following three cuts by the Federal Reserve, and corporate profits haven't been as bad as Wall Street feared.

Rising confidence can be found not only in record-high stock prices but also in a sharp rise for Treasury yields. When investors feel less need for safety, they sell government bonds. And when Treasury prices fall, their yields rise.

The 10-year Treasury yield climbed to 1.94% from 1.92% late Thursday and from a low of 1.50% just last month.

Not only are yields on the rise, so is the gap between short- and long-term Treasurys. That's seen as a vote of confidence in the economy by the bond market, and it means a closely followed warning bell about recession has turned silent.

The 10-year Treasury yield dropped below the two-year yield in late August and early September. It's a relatively rare thing, and it's often correctly predicted recessions in the past, though it doesn't have a perfect record.

Since the summer, though, increased optimism in the economy and the odds of a U.S.-China trade deal have flipped the yield curve back to normal. The gap between the two- and 10-year Treasurys is back at its healthiest level since July.

Confidence may have gotten so high recently that stock prices have become too expensive, said George Young, portfolio manager at Villere & Co.

He sees so few stocks attractively priced that he now has 15% of his clients' money at mutual funds and separately managed account sitting in cash. In June, when worries about the economy and trade war were higher, Young had only 5% in cash given the many bargains available.

"I wouldn't say I'm negative on the market," Young said, "but when stocks get ahead of themselves, it's incumbent upon me to balance against the long term."

Walt Disney jumped 3.8% for one of the biggest gains in the S&P 500 after it reported stronger profit for the latest quarter than Wall Street expected, thanks in part to its "Toy Story 4"and "The Lion King" movies. The company also said it received a positive response from a test of its planned streaming service, Disney Plus.

On the losing end was Gap, which sank 7.6% for the largest loss in the S&P 500 after the retailer slashed its profit forecast for the year. It also announced the resignation of CEO Art Peck.

Benchmark crude oil rose 9 cents to settle at $57.24 a barrel. Brent crude oil, the international standard, rose 22 cents to $62.51 a barrel. Wholesale gasoline fell 1 cent to $1.63 per gallon. Heating oil was unchanged at $1.92 per gallon. Natural gas rose 2 cents to $2.79 per 1,000 cubic feet.

Gold rose $2.90 to $1,461.30 per ounce, silver rose 19 cents to $16.78 per ounce and copper fell 4 cents to $2.68 per pound.

The dollar fell to 109.15 Japanese yen from 109.31 yen on Thursday. The euro weakened to $1.1024 from $1.1048.

8570


----------



## bigdog

U.S. stocks mostly fell on Monday as uncertainty continues to hang over U.S.-China trade talks, or at least over investors’ perception of them.

The stock market has been rallying for five weeks in part on optimism that the United States and China are nearing a stopgap deal to calm their dispute. But President Donald Trump said over the weekend that reports about U.S. willingness to lift tariffs were “incorrect,” only two days after a Chinese official said both sides agreed to rollbacks if talks progress.

Stocks dropped as soon as trading began Monday, and the S&P 500 lost as much as 0.6% from its record level, though indexes pared their losses as the day progressed.

By the end of trading, the S&P 500 was down 6.07 points, or 0.2%, at 3,087.01. The Nasdaq composite slipped 11.04, or 0.1%, to 8,464.28.

The Dow Jones Industrial Average was an outlier and eked out another record, in large part because of a big gain for Boeing. It added 10.25 points, or less than 0.1%, to 27,691.49.

It looks set to be another day of gains for the S&P/ASX 200 index. According to the latest SPI futures, the ASX 200 is expected to open 6 points or 0.1% higher this morning.










https://apnews.com/a953613f2a954dcdbb423adf3de85dd8

*Stocks slip as uncertainty reigns in US-China trade talks*
By STAN CHOE and DAMIAN J. TROISE

NEW YORK (AP) — U.S. stocks mostly fell on Monday as uncertainty continues to hang over U.S.-China trade talks, or at least over investors’ perception of them.

The stock market has been rallying for five weeks in part on optimism that the United States and China are nearing a stopgap deal to calm their dispute. But President Donald Trump said over the weekend that reports about U.S. willingness to lift tariffs were “incorrect,” only two days after a Chinese official said both sides agreed to rollbacks if talks progress.

Stocks dropped as soon as trading began Monday, and the S&P 500 lost as much as 0.6% from its record level, though indexes pared their losses as the day progressed.

By the end of trading, the S&P 500 was down 6.07 points, or 0.2%, at 3,087.01. The Nasdaq composite slipped 11.04, or 0.1%, to 8,464.28.

The Dow Jones Industrial Average was an outlier and eked out another record, in large part because of a big gain for Boeing. It added 10.25 points, or less than 0.1%, to 27,691.49.

A still-strong job market, interest-rate cuts by the Federal Reserve and better-than-expected corporate earnings in the summer have all contributed to a nearly 9% leap for the S&P 500 since late August. The market’s focus, though, has lately seemed to revolve only around the state of U.S.-China trade negotiations.

Stocks in the financial and energy industries have been generally rising since Trump said last month that the U.S. and China were negotiating “Phase One” of a trade deal. But these so-called “cyclical” stocks, whose profits are closely tied to the economic cycle, were among Monday’s losers. Such sudden snaps in movement are frustrating for investors who prefer looking at the longer term.

“The market is myopically focused on the next minute,” said Michael Liss, senior portfolio manager at American Century Investments.

“If I own Chevron or Total, which I do, and we don’t get a ‘Phase One’ signing before the end of the year, I’m not going to sell those stocks,” he said. “I just don’t think that over a three- or five-year time frame, oil demand is going to be dented because of that” even if it “flies in the face of everyone selling cyclicals because we don’t have a trade deal.”

The next hints on progress in negotiations with China may come Tuesday, when Trump is scheduled to deliver a speech on trade and economic policy at the Economic Club of New York.

Monday’s best-performing stocks were real-estate investment trusts, which rose 0.2% for the biggest gain among the 11 sectors that make up the S&P 500. The group pays relatively big dividends, and investors have flocked to them and away from “cyclical” stocks when worries are high that the trade war will hurt the economy.

Boeing soared 4.5% after it said it hopes to resume deliveries of its 737 Max jet next month.

On the losing end were energy stocks, which had some of the market’s sharpest losses as the price of oil weakened. Cabot Oil & Gas dropped 3.4%, Occidental Petroleum lost 3% and Marathon Oil fell 3%.

Bond markets were closed in observance of Veterans Day.

Low interest rates have been a big driver for the stock market’s rally, and the market’s spotlight on Wednesday will shine on Capitol Hill where Fed Chairman Jerome Powell will give testimony about the economy. Most investors expect the Fed to keep interest rates on hold for now after cutting them three times since the summer.

Later this week, the Labor Department will also give updates on inflation at both the consumer and wholesale levels. On Friday, economists expect a government report to show that retail sales returned to growth in October. That would bolster expectations that the economy can keep driving higher as strong consumer spending makes up for manufacturing declines caused by the trade war.

Earnings season is close to complete, and nearly 90% of the companies in the S&P 500 have reported their profits for the July-through-September quarter, according to FactSet. Results have been weak due in part to the slowing global economy, with earnings per share down 2.4% from a year earlier, but they haven’t been as bad as Wall Street had forecast.

Asian stock markets fell. Hong Kong’s Hang Seng slid 2.6% as tensions intensified between police and political protesters. China’s Shanghai Composite index declined 1.8%, Japan’s Nikkei 225 lost 0.3% and South Korea’s Kospi dropped 0.6%.

European markets were mixed. Britain’s FTSE 100 index slipped 0.4%, France’s CAC 40 added 0.1% and Germany’s DAX lost 0.2%.

Benchmark crude oil fell 38 cents to settle at $56.86 a barrel. Brent crude oil, the international standard, fell 33 cents to $62.18 a barrel. Wholesale gasoline fell 2 cents to $1.61 per gallon. Heating oil declined 1 cent to $1.91 per gallon. Natural gas fell 15 cents to $2.64 per 1,000 cubic feet.

Gold fell $5.80 to $1,455.50 per ounce, silver fell 2 cents to $16.76 per ounce and copper fell 2 cents to $2.66 per pound.

The dollar fell to 109.04 Japanese yen from 109.15 yen on Friday. The euro strengthened to $1.1034 from $1.1024.


----------



## bigdog

Stocks on Wall Street closed with modest gains Tuesday after an early rally lost momentum toward the end of the day.

The Nasdaq composite still finished with its second record high in three days, while the Dow Jones Industrial Average ended unchanged from the all-time high it set a day earlier.

The S&P 500 crossed above the 3,100 level for the first time, placing the index on track for its own milestone finish, but the gains didn't hold. Still, the benchmark index rebounded nearly all the way back from a loss Monday that ended a three-day winning streak.

President Donald Trump gave an update Tuesday afternoon on trade negotiations with China, saying both sides are close to a "phase-one" deal. The markets didn't have much of a reaction to the remarks, however.

The S&P 500 rose 4.83 points, or 0.2%, to 3,091.84. The index, which set a record high on Friday, has notched gains the past five weeks in a row.

The Dow Jones Industrial Average closed unchanged at 27,691.49. The Nasdaq gained 21.81, or 0.3%, to 8,486.09, a record.

The S&P/ASX 200 index looks set for a better day of trade. According to the latest SPI futures, the ASX 200 is expected to open 21 points or 0.3% higher this morning.










https://www.usnews.com/news/busines...k-indexes-open-slightly-higher-on-wall-street

*US Stock Indexes Turn Mixed After Early Rally Loses Momentum*
Stocks on Wall Street closed with modest gains Tuesday after an early rally lost momentum toward the end of the day.
By Associated Press, Wire Service Content Nov. 12, 2019, at 4:52 p.m. 

By ALEX VEIGA, AP Business Writer

Stocks on Wall Street closed with modest gains Tuesday after an early rally lost momentum toward the end of the day.

The Nasdaq composite still finished with its second record high in three days, while the Dow Jones Industrial Average ended unchanged from the all-time high it set a day earlier.

The S&P 500 crossed above the 3,100 level for the first time, placing the index on track for its own milestone finish, but the gains didn't hold. Still, the benchmark index rebounded nearly all the way back from a loss Monday that ended a three-day winning streak.

"There was some excitement on breaking 3,100, that perhaps we could continue higher on the S&P," said JJ Kinahan, chief market strategist at TD Ameritrade. "But we've had such an amazing two weeks that without any blockbuster news it was going to be difficult for us to continue higher."

President Donald Trump gave an update Tuesday afternoon on trade negotiations with China, saying both sides are close to a "phase-one" deal. The markets didn't have much of a reaction to the remarks, however.

The S&P 500 rose 4.83 points, or 0.2%, to 3,091.84. The index, which set a record high on Friday, has notched gains the past five weeks in a row.

The Dow Jones Industrial Average closed unchanged at 27,691.49. The Nasdaq gained 21.81, or 0.3%, to 8,486.09, a record.

The Russell 2000 index of smaller companies added 0.35 points, or less than 0.1%, to 1,595.12.

Stock indexes in Europe finished broadly higher.

Momentum for the market has been mostly upward for more than five weeks as worries about the U.S.-China trade war have eased, among other factors.

On Tuesday, President Trump gave markets more reason for optimism on trade during a midday speech at the Economic Club of New York. Trump said the two sides are "close," and that a "phase-one" deal on trade "could happen soon."

Trump's latest update on trade followed conflicting signals from U.S. and Chinese officials last week on whether the two sides have agreed to any tariff rollbacks as part of the tentative trade agreement they're negotiating.

Besides expectations for a stopgap deal on the trade war, stocks have jumped recently due to interest-rate cuts by the Federal Reserve, data showing the economy is still growingly solidly and corporate earnings reports for the summer that weren't as weak as expected.

The rising confidence in markets has meant fewer buyers piling into the safety of gold, which dropped Tuesday to its lowest price in more than three months.

Treasury yields fell slightly after trading resumed following Monday's holiday in observance of Veterans Day. The yield on the 10-year Treasury note slipped to 1.92% from 1.93% late Friday. It was below 1.50% in early September and has been rallying with confidence in the economy's strength.

Reports have shown that the job market is still growing, which should help households keep spending at a strong clip. Such spending makes up the bulk of the economy, and the expectation is that it can more than make up for the weakness in manufacturing that the trade war is causing.

"That's the next thing we look for," Kinahan said, noting that Black Friday, traditionally one of the busiest shopping days of the year, is only a couple weeks away. "Expectations are really high for spending. So, does the consumer live up to it?"

Health care, technology and communication services stocks led the gainers Tuesday, outweighing losses in energy companies and elsewhere.

Disney rose 1.3% on the day that its highly anticipated streaming video service, Disney Plus, launched. The service had some technical difficulties early in the morning, an indication that demand may have been higher than expected.

Rockwell Automation jumped 10.5% for one of the biggest gains in the S&P 500 after reporting earnings that were better than analysts were expecting.

Across the S&P 500, companies are on track to report a drop of 2.4% in third-quarter earnings per share from a year before. That's not as bad as the 4% decline analysts initially expected, according to FactSet. Just over 90% of the companies in the S&P 500 have reported their results for the summer.

Not all companies are delivering solid quarterly results. Advance Auto Parts skidded 7.5% Tuesday after the auto parts retailer cut its full-year estimates for sales and income.

It's a busy week for economic data. The U.S. Labor Department will give updates on consumer and wholesale inflation. Economists expect a government report to show that retail sales returned to growth in October.

And Federal Reserve Chairman Jerome Powell is due to give testimony to Congress on Wednesday about the U.S. economy. Most investors expect the Fed to keep interest rates on hold for now after cutting them three times since the summer.

Benchmark crude oil fell 6 cents to settle at $56.80 a barrel. Brent crude oil, the international standard, fell 12 cents to $62.06 a barrel. Wholesale gasoline was little changed at $1.61 a gallon. Heating oil fell 1 cent to $1.90 per gallon. Natural gas fell 2 cents to $2.62 per 1,000 cubic feet.

Gold fell $3.40 to $1,451.10 per ounce, silver fell 9 cents to $16.68 per ounce and copper fell 2 cents to $2.64 per pound.

The dollar fell to 108.94 Japanese yen from 109.04 yen on Monday. The euro strengthened to $1.1011 from $1.1034.


----------



## bigdog

Wall Street capped a wobbly day for stocks with another record-setting finish Wednesday.

The Dow Jones Industrial Average and S&P 500 index each eked out a modest gain that was good enough to nudge them to record highs. The Nasdaq closed just below its all-time high set a day earlier.

The latest milestones came after the market bounced back from a late-afternoon slide that coincided with a published report that highlighted snags in the ongoing U.S.-China trade negotiations.

Stocks spent much of the morning with slight gains after Federal Reserve Chairman Jerome Powell told a congressional panel that the central bank is likely to hold off on cutting interest rates again, citing optimism about the U.S. economy.

Investors’ optimism that Washington and Beijing are nearing a stopgap trade deal and Fed interest rate cuts have helped lift the market in recent weeks. Surprisingly good corporate earnings and data showing the economy is still growing solidly have also put investors in a buying mood.

The S&P 500 rose 2.20 points, or 0.1%, to 3,094.04, a record. The benchmark index edged past its last record close, set on Friday. It has now hit new highs 20 times this year, eclipsing the 19 it hit in 2018.

The Dow gained 92.10 points, or 0.3%, to 27,783.59. It also closed at a record high on Monday.

The Nasdaq dropped 3.99 points, or 0.1%, to 8,482.10

The S&P/ASX 200 index looks set to bounce back on Thursday. According to the latest SPI futures, the ASX 200 is expected to open 24 points or 0.35% higher this morning.










https://www.usnews.com/news/busines...sink-after-trump-threatens-more-china-tariffs

*Wobbly Day on Wall Street Ends Mixed; New Highs for S&P, Dow*
Wall Street capped a wobbly day for stocks with another record-setting finish Wednesday.
By Associated Press, Wire Service Content Nov. 13, 2019, at 5:08 p.m.

By ALEX VEIGA, AP Business Writer

Wall Street capped a wobbly day for stocks with another record-setting finish Wednesday.

The Dow Jones Industrial Average and S&P 500 index each eked out a modest gain that was good enough to nudge them to record highs. The Nasdaq closed just below its all-time high set a day earlier.

The latest milestones came after the market bounced back from a late-afternoon slide that coincided with a published report that highlighted snags in the ongoing U.S.-China trade negotiations.

Stocks spent much of the morning with slight gains after Federal Reserve Chairman Jerome Powell told a congressional panel that the central bank is likely to hold off on cutting interest rates again, citing optimism about the U.S. economy.

Investors’ optimism that Washington and Beijing are nearing a stopgap trade deal and Fed interest rate cuts have helped lift the market in recent weeks. Surprisingly good corporate earnings and data showing the economy is still growing solidly have also put investors in a buying mood.

On Wednesday, much of that buying involved safe-play stocks like utilities, real estate companies and makers of consumer products that tend to pay higher dividends. Those sectors outweighed losses in banks, industrial stocks and companies that rely on consumer spending. Demand for bonds also increased, sending bond yields lower.

“It’s a safe-haven kind of approach, but it has more to do with a focus on income,” said Sam Stovall, chief investment strategist at CFRA. “(Investors) are willing to go into these different areas of the market because the economy is strong enough to sustain those dividends.”

The S&P 500 rose 2.20 points, or 0.1%, to 3,094.04, a record. The benchmark index edged past its last record close, set on Friday. It has now hit new highs 20 times this year, eclipsing the 19 it hit in 2018.

The Dow gained 92.10 points, or 0.3%, to 27,783.59. It also closed at a record high on Monday.

The Nasdaq dropped 3.99 points, or 0.1%, to 8,482.10.

Small-company stocks lagged the broader market, sending the Russell 2000 index down 5.94 points, or 0.4%, to 1,589.18.

More stocks fell than rose on the New York Stock Exchange. Stock indexes in Europe finished broadly lower.

Treasury yields continued to fall as demand for bonds increased, driving their prices higher. The yield on the 10-year Treasury note slipped to 1.89% from 1.91% late Friday. It was below 1.50% in early September and has been rallying with confidence in the economy's strength.

Stocks got off to a sluggish start Wednesday as investors awaited the remarks from Powell, who kicked off two days of testimony before congressional panels.

They perked up after the Fed chairman said that the central bank is unlikely to cut rates unless the economy slows enough to cause Fed policymakers to make a “material reassessment” of their outlook.

“Most people going in pretty much assumed that the Fed is now on hold,” Stovall said. “Investors were encouraged that Chairman Powell did not say anything totally out of what was expected.”

The Fed cut short-term rates last month for the third time this year, to a range of 1.5% to 1.75%, in a bid to shield the economy from slower global growth and the U.S.-China trade war.

ADT was among the stocks that helped drive the market higher Wednesday. The home and business security company climbed 8.2% after its latest quarterly results topped Wall Street’s expectations. The company also announced a special dividend.

Shares in Energizer Holdings jumped 15.2% after the battery and personal care products maker’s latest quarterly results handily beat Wall Street’s forecasts.

Benchmark crude oil rose 32 cents to settle at $57.12 a barrel. Brent crude oil, the international standard, gained 31 cents to close at $62.37 a barrel.

Wholesale gasoline rose 3 cents to $1.64 per gallon. Heating oil climbed 1 cent to $1.91 per gallon. Natural gas fell 2 cents to $2.60 per 1,000 cubic feet.

Gold rose $9.60 to $1,461.70 per ounce, silver rose 22 cents to $16.90 per ounce and copper was unchanged at $2.64 per pound.

The dollar fell to 108.79 Japanese yen from 108.94 yen on Tuesday. The euro weakened to $1.1002 from $1.1011.


----------



## bigdog

A day of listless trading on Wall Street ended Thursday with another record high for the S&P 500.

The benchmark index notched its third consecutive gain after spending most of the day wavering between small gains and losses. The Dow Jones Industrial Average and Nasdaq composite also budged little, capping the day with miniscule drops.

The market’s lethargic turn came on a day with little market-moving news. Investors were still awaiting more details on the status of trade talks between the U.S. and China.

Published reports have suggested this week that negotiations between the world’s two largest economies have hit some snags. Beijing is pressing Washington to roll back tariffs as part of a potential deal that the nations are trying to hammer out.

While the market has been sensitive to the swings in the trade talks, the latest speculation did not put most investors in a selling mood

The S&P 500 rose 2.59 points, or 0.1%, to 3,096.63. The Dow slipped 1.63 points, or less than 0.1%, to 27,781.96. The index had briefly been down around 100 points.

The Nasdaq fell 3.08 points, or less than 0.1%, to 8,479.02.

The S&P/ASX 200 index looks set to finish the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open 16 points or 0.25% higher this morning.










https://apnews.com/0663eeaefe3f4c9487b407360a1a5d4a

*S&P 500 ekes out record high after listless day of trading*
By ALEX VEIGA

A day of listless trading on Wall Street ended Thursday with another record high for the S&P 500.

The benchmark index notched its third consecutive gain after spending most of the day wavering between small gains and losses. The Dow Jones Industrial Average and Nasdaq composite also budged little, capping the day with miniscule drops.

The market’s lethargic turn came on a day with little market-moving news. Investors were still awaiting more details on the status of trade talks between the U.S. and China.

Published reports have suggested this week that negotiations between the world’s two largest economies have hit some snags. Beijing is pressing Washington to roll back tariffs as part of a potential deal that the nations are trying to hammer out.

While the market has been sensitive to the swings in the trade talks, the latest speculation did not put most investors in a selling mood.

“We’ve had headlines like this before and the market is doing a little bit better job of looking through them,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute. “Until something is announced, yay or nay, it probably doesn’t make much sense to trade on it, especially when President Trump himself has tweeted out that talks are going well.”

The S&P 500 rose 2.59 points, or 0.1%, to 3,096.63. The Dow slipped 1.63 points, or less than 0.1%, to 27,781.96. The index had briefly been down around 100 points.

The Nasdaq fell 3.08 points, or less than 0.1%, to 8,479.02. The Russell 2000 index of smaller company stocks dropped 0.39 points, or less than 0.1%, to 1,588.79.

The broader market has been gaining ground for weeks on hopes that the U.S. and China can make progress in their latest push for a deal. Investors have also been encouraged by surprisingly good corporate earnings and data showing the economy is still growing solidly. And the Federal Reserve has helped, lowering interest rates three times this year. The central bank has signaled that it’s done lowering rates, for now, unless the U.S. economy shows any major signs of trouble.

“We’ve been going up, and the path of least resistance is probably higher, but the question is what’s going to take us there?” Samana said. “The Fed’s on hold. Earnings are out of the way, so probably the next thing the market will look to is this trade issue that’s still outstanding.”

Investors hope that Washington and Beijing can come to some sort of an agreement to avert new and potentially more damaging tariffs that are scheduled to take effect in the middle of next month. Those new tariffs would hit some popular consumer products, such as electronic devices, as well as everyday goods. President Donald Trump has been dismissive about any change to tariffs while negotiations continue.

China did make a goodwill gesture of sorts Thursday when it moved to lift a four-year ban on U.S. poultry products. The move sent shares in processed food companies higher. Tyson Foods rose 1.7%, Sanderson Farms gained 3.7% and Pilgrim’s Pride added 1.1%.

The U.S. is the world’s second largest poultry exporter, with global exports of poultry meat and products of $4.3 billion last year. The U.S. Department of Agriculture estimates that more than $1 billion in poultry could be exported to China annually.

Consumer-focused stocks, including Target and Lowe’s, were the best performers Thursday, offsetting declines in technology and energy companies.

Technology stocks were the biggest losers. Cisco Systems fell 7.3% after giving investors a surprisingly weak revenue forecast.

Banks also moved broadly lower. The yield on the 10-year Treasury fell to 1.82% from 1.87% late Wednesday. Lower bond yields hurt banks’ ability to charge more lucrative interest rates on mortgages and other loans.

Retailers and other companies that rely on consumer spending held up best. Lowe’s rose 1.5% and Target added 2.3%. Walmart, which had been solidly higher earlier after reporting strong third-quarter results and raising its annual profit expectations, fell 0.3%.

Dillard’s jumped 14.2% after the department store operator surprised Wall Street with a fiscal third-quarter profit and solid sales.

Industrial and communication services stocks also notched gains. Boeing rose 1.4% and Netflix climbed 2.3%.

Benchmark crude oil fell 35 cents to settle at $56.77 a barrel. Brent crude oil, the international standard, dropped 9 cents to close at $62.28 a barrel. Wholesale gasoline fell 2 cents to $1.62 per gallon. Heating oil climbed 1 cent to $1.92 per gallon. Natural gas rose 5 cents to $2.65 per 1,000 cubic feet.

Gold rose $10.10 to $1,471.80 per ounce, silver rose 11 cents to $17.01 per ounce and copper fell 2 cents to $2.62 per pound.

The dollar fell to 108.37 Japanese yen from 108.79 yen on Wednesday. The euro strengthened to $1.1022 from $1.1002.

European markets closed broadly lower.


----------



## bigdog

Wall Street closed out the week with more milestones Friday as the Dow Jones Industrial Average crossed 28,000 for the first time and the S&P 500 and Nasdaq hit record highs.






Health care and technology stocks powered most of the broad rally, which helped drive the S&P 500 to its sixth straight weekly gain. The Dow extended its streak of weekly gains to four.

The strong finish caps a week when the major stock indexes set more highs while barely moving and extends a string of gains for the broader market in recent weeks.

Investors have been encouraged by surprisingly good corporate earnings, three interest rate cuts by the Federal Reserve and data showing the economy is still growing solidly. Hopes that the U.S. and China can make progress in their latest push for a trade deal have also helped keep investors in a buying mood.

“Over the past week the market absorbed a number of challenging trade headlines, and it didn’t go down,” said Willie Delwiche, investment strategist at Baird. “It might just be the case that with positive momentum, after not having had a chance to pull the market down, the bulls stepped in again and said: ‘Let’s keep this thing going.’”

The S&P 500 index rose 23.83 points, or 0.8%, to 3,120.46. The benchmark index briefly reached the 3,100 mark earlier in the week.

The Dow Jones Industrial Average gained 222.93 points, or 0.8%, to 28,004.89. The Nasdaq composite climbed 61.81, or 0.7%, to 8,540.83. The Russell 2000 index of smaller companies picked up 7.66 points, or 0.5%, to 1,596.45.

The S&P, Dow and Nasdaq are now all up by more than 20% for the year.










*Chart DOW vs AORD*





https://www.usnews.com/news/busines...-surge-on-bullish-talk-on-china-us-trade-deal

*US Stock Indexes End Week of Milestones With More New Highs*
Wall Street closed out the week with more milestones Friday as the Dow Jones Industrial Average crossed 28,000 for the first time and the S&P 500 and Nasdaq hit record highs.
By Associated Press, Wire Service Content Nov. 15, 2019, at 4:58 p.m.

By ALEX VEIGA, AP Business Writer

Wall Street closed out the week with more milestones Friday as the Dow Jones Industrial Average crossed 28,000 for the first time and the S&P 500 and Nasdaq hit record highs.

Health care and technology stocks powered most of the broad rally, which helped drive the S&P 500 to its sixth straight weekly gain. The Dow extended its streak of weekly gains to four.

The strong finish caps a week when the major stock indexes set more highs while barely moving and extends a string of gains for the broader market in recent weeks.

Investors have been encouraged by surprisingly good corporate earnings, three interest rate cuts by the Federal Reserve and data showing the economy is still growing solidly. Hopes that the U.S. and China can make progress in their latest push for a trade deal have also helped keep investors in a buying mood.

“Over the past week the market absorbed a number of challenging trade headlines, and it didn’t go down,” said Willie Delwiche, investment strategist at Baird. “It might just be the case that with positive momentum, after not having had a chance to pull the market down, the bulls stepped in again and said: ‘Let’s keep this thing going.’”

The S&P 500 index rose 23.83 points, or 0.8%, to 3,120.46. The benchmark index briefly reached the 3,100 mark earlier in the week.

The Dow Jones Industrial Average gained 222.93 points, or 0.8%, to 28,004.89. The Nasdaq composite climbed 61.81, or 0.7%, to 8,540.83. The Russell 2000 index of smaller companies picked up 7.66 points, or 0.5%, to 1,596.45.

The S&P, Dow and Nasdaq are now all up by more than 20% for the year.

Bond prices fell Friday, pushing yields higher, a signal that investors were shifting away from safe-play holdings. The yield on the 10-year Treasury rose to 1.84% from 1.81% late Thursday.

Investors hope the world’s two biggest economies can make a deal before new and more damaging tariffs take effect next month. Beijing is pressing Washington to roll back tariffs as part of a potential deal that the nations are trying to hammer out.

Investors mostly shrugged off published reports this week suggesting that trade talks have hit a snag. On Friday, Commerce Secretary Wilbur Ross told Fox Business that it is likely a trade deal will get done, though he noted that it’s still possible a pact could unravel at the last minute as it did in when both sides got close to a deal in May.

A report showing U.S. retail sales rebounded a modest 0.3% in October after falling the previous month also helped put traders in a buying mood. J.C. Penney surged after it raised its profit forecast.

Health care stocks led the way higher Friday, with insurers getting a boost after the Trump administration officially announced a rule that would require hospitals and other providers to make public the rates for drugs, doctor visits and other services. Humana climbed 5.5%, UnitedHealth Group rose 5.3% and Anthem gained 5.6%.

Technology stocks also notched solid gains. Solid quarterly earnings drove Applied Materials 9% higher, making it the biggest gainer in the S&P 500.

Communication services companies also helped lift the market. Google parent Alphabet rose 1.9%, hitting an all-time high.

The materials ended lower, the only sector to finish with a tiny loss. Utilities and makers of household goods posted the smallest gains as investors turned away from less risky, defensive stocks.

Traders bid up shares in several big retailers. J.C. Penney climbed 6.4% after the struggling department store chain reported a smaller quarterly loss and raised its annual profit forecast. Under Armour rose 3.9% and Macy’s gained 3.4%.

RH climbed 7.6% and energy company Occidental Petroleum gained 2.9% after Warren Buffett’s company disclosed that it had picked up shares of both companies.

Amarin vaulted 11.8% after a government advisory panel recommended broader use of its fish oil-based heart disease drug Vascepa.

Benchmark crude oil rose 95 cents to settle at $57.72 a barrel. Brent crude, the international standard, gained $1.02 to close at $63.30 a barrel. Wholesale gasoline rose 2 cents to $1.64 per gallon. Heating oil climbed 3 cents to $1.95 per gallon. Natural gas rose 4 cents to $2.69 per 1,000 cubic feet.

Gold fell $4.50 to $1,467.30 per ounce, silver fell 8 cents to $16.93 per ounce and copper rose 2 cents to $2.64 per pound.

The dollar rose to 108.84 Japanese yen from 108.37 yen on Thursday. The euro strengthened to $1.1053 from $1.1022.

Asian and European markets finished higher.

881


----------



## bigdog

The U.S. stock market inched higher Monday, the latest nudge in its record-setting, six-week run, as markets wait for the next development in trade talks between the United States and China.

All three major indexes edged above the all-time highs they set on Friday, though the seemingly placid moves masked plenty of churn going on underneath. Nearly as many stocks in the S&P 500 fell as rose, and it took big gains for technology stocks and others to make up for sharp losses by oil producers.

The S&P 500 rose 1.57 points, or 0.1%, to 3,122.03. The Dow Jones Industrial Average gained 31.33, or 0.1%, to 28,036.22, and the Nasdaq composite climbed 9.11, or 0.1%, to 8,549.94.

Small-company stocks fell. The Russell 2000 index gave up 4.11, or 0.3%, to 1,592.34.

The market has been on a tear since early October, and indexes have been on a nearly uninterrupted run as worries about a possible recession have faded. Solid economic data, better corporate earnings than analysts expected and interest-rate cuts by the Federal Reserve have all helped.

The S&P/ASX 200 index looks set to edge lower again this morning. According to the latest SPI futures, the S&P/ASX 200 index is expected to drop a single point lower at the open.










https://apnews.com/4ba2e07271f8491b84b79b828bdf0d66

*US indexes inch up as stocks churn, markets await trade deal*
By STAN CHOE and DAMIAN J. TROISE

NEW YORK (AP) — The U.S. stock market inched higher Monday, the latest nudge in its record-setting, six-week run, as markets wait for the next development in trade talks between the United States and China.

All three major indexes edged above the all-time highs they set on Friday, though the seemingly placid moves masked plenty of churn going on underneath. Nearly as many stocks in the S&P 500 fell as rose, and it took big gains for technology stocks and others to make up for sharp losses by oil producers.

The S&P 500 rose 1.57 points, or 0.1%, to 3,122.03. The Dow Jones Industrial Average gained 31.33, or 0.1%, to 28,036.22, and the Nasdaq composite climbed 9.11, or 0.1%, to 8,549.94.

Small-company stocks fell. The Russell 2000 index gave up 4.11, or 0.3%, to 1,592.34.

The market has been on a tear since early October, and indexes have been on a nearly uninterrupted run as worries about a possible recession have faded. Solid economic data, better corporate earnings than analysts expected and interest-rate cuts by the Federal Reserve have all helped.

That leaves negotiations in the U.S.-China trade war as the remaining wild card for the market. President Donald Trump had earlier hoped to have signatures on the first phase of a trade deal by now, at a major international summit that was scheduled for this past weekend. But the president of the summit’s host nation, Chile, canceled the meeting last month amid nationwide protests.

The two sides are continuing to negotiate, with stock markets around the world swinging on every hint of progress or tension.

“Things are somewhat stable right now, which is really crazy when I think about the geopolitical issues going on abroad and in the U.S.,” said Mike Loewengart, vice president of investment strategy at E-Trade Financial. “But we caution investors to have reasonable expectations for additional gains going forward: Hope for the best, but be mindful that we could see an uptick in volatility at any time.”

Some churn was on display Monday as energy stocks sank 1.3%. It was the largest loss by far among the 11 sectors that make up the S&P 500, and it tracked a sharp drop for oil and natural gas prices. ConocoPhillips fell 2.7%, and Chevron sank 1.7%.

Counterbalancing those losses were big gains for technology stocks, particularly chip makers. They bolted higher after the Commerce Department gave another 90-day extension for Chinese tech giant Huawei to continue doing business with U.S. companies.

Nvidia jumped 4% for the biggest gain in the S&P 500, and Advanced Micro Devices was close behind with a 3.4% rise.

Other winners included stocks in areas of the market that tend to pay big dividends and hold up even when the economy is slowing.

Real-estate stocks and companies that make everyday goods for households both rose 0.5%, for example.

These kinds of stocks are known as “defensive” investments, and they had begun to lag the market in recent weeks as investors opted for companies whose profits can rise more quickly in a healthy economy.

But a drop in Treasury yields Monday may have made the dividends paid by defensive stocks more attractive.

The yield on the 10-year Treasury fell to 1.81% from 1.83% late Friday.

Trading was quiet Monday as the market nears the end of corporate reporting season. More than 90% of companies in the S&P 500 have already said how much profit they made during the summer, and reports have mostly come in ahead of Wall Street’s expectations.

Still on deck are several big retailers. Home Depot will report results on Tuesday. Target and Lowe’s will report results on Wednesday. Macy’s and Gap will release their earnings on Thursday.

Also coming up this week are the release of the minutes from the Federal Reserve’s last meeting, where it decided to cut interest rates for a third time this year, and reports on manufacturing and consumer sentiment.

Overseas stock markets were mixed.

Japan’s Nikkei 225 index rose 0.5%, South Korea’s Kospi slipped 0.1% and the Hang Seng in Hong Kong jumped 1.3%. London’s FTSE 100 added 0.1%, while France’s CAC 40 slipped 0.2% and Germany’s DAX lost 0.3%.

In the commodities markets, benchmark oil fell 67 cents to settle at $57.05 a barrel. Brent crude, the international standard, fell 86 cents to close at $62.44 a barrel. Wholesale gasoline fell 2 cents to $1.62 per gallon. Heating oil declined 5 cents to $1.90 per gallon. Natural gas fell 12 cents to $2.57 per 1,000 cubic feet.

Gold rose $3.60 to $1,470.90 per ounce, silver rose 6 cents to $16.99 per ounce and copper fell 2 cents to $2.62 per pound.

The dollar fell to 108.65 Japanese yen from 108.84 yen on Friday. The euro strengthened to $1.1076 from $1.1053.


----------



## bigdog

Major stock indexes ended a wobbly day of trading on Wall Street mostly lower Tuesday, as losses in energy companies and department store operators edged out gains elsewhere in the market.

A solid showing for technology sector stocks helped lift the Nasdaq composite to another all-time high, while the S&P 500 index finished less than 2 points below the record close it reached on Monday.

Energy sector stocks took the heaviest losses as the price of U.S. crude oil dropped 3.2%. Disappointing earnings from Kohl’s sent other retailer stocks into a skid. A slide in Home Depot’s stock weighed on the Dow Jones Industrial Average, which ended lower a day after inching to a record high.

“It’s almost a carbon copy of yesterday,” Jeff Zipper, managing director at U.S. Bank Private Wealth Management. “The S&P basically flat, the Nasdaq obviously up. Right now, the markets, as we go toward year end, their path of least resistance is up.”

The S&P 500 index slipped 1.85 points, or less than 0.1%, to 3,120.18. The Dow fell 102.20 points, or 0.4%, to 27,934.02. The Nasdaq climbed 20.72 points, or 0.2%, to 8,570.66.

The S&P/ASX 200 index looks set to give back a lot of yesterday’s gain on Wednesday. According to the latest SPI futures, the S&P/ASX 200 index is expected to drop 41 points or 0.6% lower at the open.










https://www.usnews.com/news/busines...es-mixed-amid-caution-on-us-china-trade-talks

*US Stock Indexes Edge Mostly Lower as Retailers Sink*
Major stock indexes ended a wobbly day of trading on Wall Street mostly lower Tuesday, as losses in energy companies and department store operators edged out gains elsewhere in the market.
By Associated Press, Wire Service Content Nov. 19, 2019, at 5:11 p.m

By ALEX VEIGA, AP Business Writer

Major stock indexes ended a wobbly day of trading on Wall Street mostly lower Tuesday, as losses in energy companies and department store operators edged out gains elsewhere in the market.

A solid showing for technology sector stocks helped lift the Nasdaq composite to another all-time high, while the S&P 500 index finished less than 2 points below the record close it reached on Monday.

Energy sector stocks took the heaviest losses as the price of U.S. crude oil dropped 3.2%. Disappointing earnings from Kohl’s sent other retailer stocks into a skid. A slide in Home Depot’s stock weighed on the Dow Jones Industrial Average, which ended lower a day after inching to a record high.

“It’s almost a carbon copy of yesterday,” Jeff Zipper, managing director at U.S. Bank Private Wealth Management. “The S&P basically flat, the Nasdaq obviously up. Right now, the markets, as we go toward year end, their path of least resistance is up.”

The S&P 500 index slipped 1.85 points, or less than 0.1%, to 3,120.18. The Dow fell 102.20 points, or 0.4%, to 27,934.02. The Nasdaq climbed 20.72 points, or 0.2%, to 8,570.66.

Smaller company stocks fared better than the rest of the market, driving up the Russell 2000 index up 5.95 points, or 0.4%, at 1,598.29.

Major stock indexes in Europe closed mostly higher.

Bond prices rose, sending bond yields lower. The yield on the 10-year Treasury fell to 1.79% from 1.80% late Monday.

U.S. stocks have been steadily rising for weeks as a mix of solid economic data and corporate earnings inject confidence into the market and diminished fears that a recession was imminent.

Technology, by far the best-performing sector this year, has done especially well as investors have grown more hopeful that the U.S. and China will make progress in ending their trade war. Traders hope the world's two biggest economies can deliver on plans for a “phase one” deal before new and more damaging tariffs take effect next month.

Tech stocks were among the big gainers Tuesday, led by chipmakers. Advanced Micro Devices climbed 3.5% and Broadcom rose 2.1%.

Health care stocks accounted for the biggest swath of gains. Pfizer rose 1.2% and Amgen gained 1.7%.

Those gains were kept in check by losses elsewhere in the market.

Oil producers declined as crude oil prices took another stumble. Marathon Petroleum slid 3.4% and Occidental Petroleum lost 3%.

Energy, which trails all other S&P 500 sectors with a gain of only 1% for the year, dropped 1.5% Tuesday.

Disappointing quarterly report cards from Home Depot and Kohl’s weighed on retail stocks.

Home Depot dropped 5.4% after the home improvement company reported weak sales growth for the most recent quarter and cut its forecast for the year. Rival Lowe’s, which will report earnings on Wednesday, fell 1.4%.

Kohl’s plunged 19.5% after the department store operator slashed its profit forecast for the year following weak third-quarter earnings. The weak outlook prompted traders to dump other department store stocks. Macy's sank 10.9% and Nordstrom lost 6.3%. Both report their own results on Thursday.

Not all big retailers had a bad day. Shares in the TJX Cos., rose 1.8% after the parent of T.J. Maxx and Marshalls reported encouraging third-quarter earnings and raised its profit forecast for the year.

Benchmark crude oil fell $1.84 to settle at $55.21 a barrel. Brent crude oil, the international standard, dropped $1.53 to close at $60.91 a barrel. Wholesale gasoline fell 2 cents to $1.60 per gallon. Heating oil declined 4 cents to $1.86 per gallon. Natural gas fell 6 cents to $2.51 per 1,000 cubic feet.

Gold rose $2.40 to $1,473.30 per ounce, silver rose 11 cents to $17.10 per ounce and copper rose 3 cents to $2.65 per pound.

The dollar fell to 108.53 Japanese yen from 108.65 yen on Monday. The euro strengthened to $1.1078 from $1.1076.


----------



## bigdog

*SEA OF RED*

Stocks closed broadly lower on Wall Street Wednesday as investors turned anxious about the possibility that the U.S. and China may not reach a trade deal before next year.

Technology stocks took the heaviest losses. Communication services and industrial stocks also were big losers. Banks fell as bond yields declined. Energy stocks notched the biggest gains as crude oil prices rebounded.

A published report suggested a “phase one” trade pact may not be completed this year as negotiators continue to wrestle over differences. Beijing is pressing Washington to agree to broader tariff rollbacks on Chinese goods.

Investors have been hoping the world's two biggest economies can make a deal before new and more damaging tariffs take effect Dec. 15 on about $160 billion in Chinese imports. Those duties would cover smartphones, laptops and other consumer goods.

The selling nudged the major U.S. stock indexes off their recent all-time highs.

The S&P 500 index dropped 11.72 points, or 0.4%, to 3,108.46. The Dow Jones Industrial Average lost 112.93 points, or 0.4%, to 27,821.09. The index was briefly down 258 points.

The Nasdaq slid 43.93, or 0.5%, to 8,526.73. The Russell 2000 index of smaller company stocks gave up 6.68 points, or 0.4%, to 1,591.61.

The S&P/ASX 200 index looks set to continue its slide on Thursday. According to the latest SPI futures, the S&P/ASX 200 index is expected to drop 7 points or 0.1% lower at the open.










https://www.usnews.com/news/busines...etreat-on-poor-japan-trade-data-china-jitters

*New US-China Trade Worries Pull Stocks Lower on Wall Street*
Stocks closed broadly lower on Wall Street Wednesday as investors turned anxious about the possibility that the U.S. and China may not reach a trade deal before next year.
By Associated Press, Wire Service Content Nov. 20, 2019, at 4:57 p.m.

By ALEX VEIGA, AP Business Writer

Stocks closed broadly lower on Wall Street Wednesday as investors turned anxious about the possibility that the U.S. and China may not reach a trade deal before next year.

Technology stocks took the heaviest losses. Communication services and industrial stocks also were big losers. Banks fell as bond yields declined. Energy stocks notched the biggest gains as crude oil prices rebounded.

A published report suggested a “phase one” trade pact may not be completed this year as negotiators continue to wrestle over differences. Beijing is pressing Washington to agree to broader tariff rollbacks on Chinese goods.

Investors have been hoping the world's two biggest economies can make a deal before new and more damaging tariffs take effect Dec. 15 on about $160 billion in Chinese imports. Those duties would cover smartphones, laptops and other consumer goods.

“If a deal is not going to get done before the end of the year, then all of a sudden this uncertainty comes back in around what’s going to happen around December 15,” said Scott Ladner, chief investment officer at Horizon Investments. “Are the tariffs back on the table again? The market has certainly come to expect that those are not going to happen.”

The selling nudged the major U.S. stock indexes off their recent all-time highs.

The S&P 500 index dropped 11.72 points, or 0.4%, to 3,108.46. The Dow Jones Industrial Average lost 112.93 points, or 0.4%, to 27,821.09. The index was briefly down 258 points.

The Nasdaq slid 43.93, or 0.5%, to 8,526.73. The Russell 2000 index of smaller company stocks gave up 6.68 points, or 0.4%, to 1,591.61.

Major stock indexes in Europe also closed lower.

Growing optimism among investors that the U.S. and China were making progress toward a limited trade deal helped pave the way for gains in the market in recent weeks, including a string of all-time highs for the major stock indexes.

That optimism dimmed Wednesday as investors weighed the implications of more tariffs kicking in next month.

The two countries have raised tariffs on billions of dollars of each other's goods in the fight over China's trade surplus and technology ambitions. That weighs on trade worldwide and threatens to depress corporate earnings and global economic growth, which has already showed signs of slowing.

President Donald Trump said Tuesday he was prepared to raise tariffs on Chinese exports if the nations can’t reach an agreement on trade.

The Senate may have complicated the path to a deal Wednesday, when it passed a resolution in support of human rights in Hong Kong following months of antigovernment protests. China condemned the move and threatened “strong countermeasures.”

Technology and communication services companies were among the biggest losers Wednesday. HP fell 2% and AT&T slid 2.2%.

Citigroup dropped 1.2% as financial stocks fell along with bond yields. The yield on the 10-year Treasury slid to 1.74% from 1.78% late Tuesday. Falling bond yields hurt banks because they are a benchmark for the interest rates lenders charge on mortgages and other loans.

Energy companies held up better than the rest of the market as oil prices climbed 3.4%. ConocoPhillips rose 3.8%.

Benchmark crude oil rose $1.90 to settle at $57.11 a barrel. Brent crude oil, the international standard, gained $1.49 to close at $62.40 a barrel.

Utilities, real estate companies and makers of household goods also rose as traders favored less-risky and higher-dividend paying stocks.

Investors also had their eye on the latest batch of quarterly results from big retailers.

Target surged 14.1% after handily beating Wall Street’s third-quarter earnings estimates. The retailer also raised its profit forecast for the year.

Lowe’s rose 3.9% after raising its profit forecast for the year following a solid third quarter. The home improvement retailer has been working to improve profit and sales to better compete with rival Home Depot, which on Tuesday cut its profit forecast after reporting disappointing earnings. The stock dropped 2.2%.

Urban Outfitters plunged 15.2% after the clothing and accessories retailer fell short of Wall Street’s third-quarter profit and sales forecasts.

In other commodities trading, wholesale gasoline rose 6 cents to $1.66 per gallon. Heating oil climbed 3 cents to $1.89 per gallon. Natural gas rose 5 cents to $2.56 per 1,000 cubic feet.

Gold was unchanged at $1,473.30 per ounce, silver was unchanged at $17.10 per ounce and copper was unchanged at $2.65 per pound.

The dollar rose to 108.64 Japanese yen from 108.53 yen on Tuesday. The euro weakened to $1.1070 from $1.1078.


----------



## bigdog

*SEA OF RED AGAIN*

Stocks closed modestly lower on Wall Street Thursday after a mostly listless day of trading handed the market its third straight drop.

Losses in technology stocks, companies that rely on consumer spending and other sectors outweighed gains elsewhere in the market.

Energy sector stocks were the biggest winners, benefiting from another pickup in crude oil prices. Health care and communication services companies also rose.

Investors have turned cautious this week amid concerns that the U.S. and China will fail to make a trade deal before the year is over.

The world’s largest economies have been negotiating a resolution to their trade war ahead of new tariffs set to hit key consumer goods on Dec. 15. Investors have been hoping for a deal before that happens, as the tariffs would increase prices on smartphones, laptops and many common household goods.

The S&P 500 index dropped 4.92 points, or 0.2%, to 3,103.54. The Dow Jones Industrial Average fell 54.80 points, or 0.2%, to 27,766.29.

The Nasdaq slid 20.52 points, or 0.2%, to 8,506.21. The Russell 2000 index of smaller company stocks lost 7.65 points, or 0.5%, to 1,583.96.

The S&P/ASX 200 index looks set to end its poor run and rebound on Friday. According to the latest SPI futures, the S&P/ASX 200 index is expected to rise 38 points or 0.6% at the open. This is despite it being a subdued night of trade on Wall Street










https://apnews.com/a8cbcc8a69d54361a6486b81fdc4d93d

*Stocks close with modest losses amid US-China trade anxiety*
By ALEX VEIGA and DAMIAN J. TROISE

Stocks closed modestly lower on Wall Street Thursday after a mostly listless day of trading handed the market its third straight drop.

Losses in technology stocks, companies that rely on consumer spending and other sectors outweighed gains elsewhere in the market.

Energy sector stocks were the biggest winners, benefiting from another pickup in crude oil prices. Health care and communication services companies also rose.

Investors have turned cautious this week amid concerns that the U.S. and China will fail to make a trade deal before the year is over.

The world’s largest economies have been negotiating a resolution to their trade war ahead of new tariffs set to hit key consumer goods on Dec. 15. Investors have been hoping for a deal before that happens, as the tariffs would increase prices on smartphones, laptops and many common household goods.

“That Dec. 15 deadline on tariffs still weighs on the market,” said Quincy Krosby, chief market strategist at Prudential Financial. “The market needs a sense that there won’t be an escalation in the trade war.”

The S&P 500 index dropped 4.92 points, or 0.2%, to 3,103.54. The Dow Jones Industrial Average fell 54.80 points, or 0.2%, to 27,766.29.

The Nasdaq slid 20.52 points, or 0.2%, to 8,506.21. The Russell 2000 index of smaller company stocks lost 7.65 points, or 0.5%, to 1,583.96.

Major stock indexes in Europe also finished lower.

The latest round of selling extended the losses for U.S. stocks this week. The benchmark S&P 500 index is on track to snap a six-week winning streak.

Optimism that Washington and Beijing were nearing a “phase one” trade deal helped pave the way for gains in the market in recent weeks, including a string of all-time highs for the major stock indexes. Stocks have receded from those highs the past few days as investors have grown more doubtful about a trade resolution.

The doubts have persisted even after an attempt by China’s Commerce Ministry to bat away rumors that the talks were in trouble. A ministry spokesman said Beijing was committed to continuing discussions on core concerns. The Wall Street Journal also reported that China’s chief negotiator has called for more face-to-face negotiations.

Stocks are likely to remain choppy and risky as long as the trade war and threat of new tariffs looms over Wall Street, said Barry Bannister, head of institutional equity strategy at Stifel.

“We don’t want to see tariffs on consumer goods that get passed on directly to retail purchasers because they’re the last leg on which the economy is standing right now,” Bannister said.

Bannister warned that the market could be in for a significant decline before the end of the year if the U.S. and China can’t make progress. He also said the risk of a larger recession has not disappeared.

The resurgent trade worries have cut into some of the market’s recent gains this week, though the major stock indexes remain near their all-time highs.

“Markets need to pause, they need to consolidate,” Krosby said. “And by just being flat, by pulling back a little bit, that’s actually ultimately healthy for the market.”

Technology stocks took some of the heaviest losses Thursday. Many chipmakers and companies that make hardware rely on China for sales and supply chains. Advanced Micro Devices slid 3.6% and Lam Research fell 3.7%.

Consumer product makers also fell broadly. Kraft Heinz dropped 2.7%.

Exxon Mobil rose 2.4%, part of a broad rally in energy stocks as the price of U.S. crude oil climbed 2.8%. Benchmark crude oil rose $1.57 to settle at $58.58 a barrel. Brent crude oil, the international standard, gained $1.57 to close at $63.97 a barrel.

Bond prices fell. The yield on the 10-year Treasury rose to 1.78% from 1.74% late Wednesday. The rise in bond yields, which drive up the interest rates banks charge for mortgages and other loans, helped boost financial sector stocks. Bank of America added 0.5%.

Traders welcomed a batch of deal-related news.

Tiffany jumped 2.6% following a report that LVMH would raise its bid for the company. TD Ameritrade soared 16.9% after a report that Charles Schwab was in talks to acquire it.

PayPal slipped 1.5% after saying it would buy Honey Science, which helps people find coupons and discounts while they shop online.

Retailers continued to report a mixed batch of earnings. Macy’s fell 2.3% after cutting its profit and sales forecast. Investors rewarded Victoria’s Secret owner L Brands with a 10.1% gain after the company met Wall Street’s profit expectations.

Several other well-known retailers will report earnings later Thursday, including Nordstrom and Gap.

In other commodities trading, wholesale gasoline rose 4 cents to $1.70 per gallon, heating oil climbed 5 cents to $1.94 per gallon and natural gas rose 1 cent to $2.57 per 1,000 cubic feet.

Gold fell $10.20 to $1,463.10 per ounce, silver fell 5 cents to $17.05 per ounce and copper fell 3 cents to $2.62 per pound.

The dollar rose to 108.66 Japanese yen from 108.64 yen on Wednesday. The euro weakened to $1.1059 from $1.1070.


----------



## bigdog

U.S. stocks shook off a midday stumble to finish slightly higher Friday, though the modest rebound was not enough to keep the S&P 500 from breaking its longest stretch of weekly gains in two years.

Banks, health care stocks and companies that rely on consumer spending powered much of the rebound, outweighing losses in technology, real estate and other sectors. Oil prices fell.

Markets around the world churned this week on uncertainty about whether the U.S. and China can soon halt their trade dispute, or at least stop it from escalating. New U.S. tariffs are set to hit Dec. 15 on many Chinese-made items on holiday shopping checklists, such as smartphones and laptops.

Tariffs already put in place have hurt manufacturing around the world, and businesses have held back on spending given all the uncertainty about where the rules of global trade will end up.

President Donald Trump said a deal between the world’s largest economies is “potentially very close” after Chinese President Xi Jinping said Beijing is working to “try not to have a trade war,” but will nevertheless fight back if necessary.

The S&P 500 rose 6.75 points, or 0.2%, to 3,110.29. It had earlier been up 0.3% and then down 0.1%.

The Dow Jones Industrial Average gained 109.33 points, or 0.4%, to 27,875.62. The Nasdaq composite added 13.67 points, or 0.2%, to 8,519.88.











*Chart DOW vs AORD*





https://www.usnews.com/news/busines...-mostly-higher-despite-us-china-trade-anxiety

*S&P 500 Snaps 6-Week String of Gains Even as Stocks Rise*
U.S. stocks shook off a midday stumble to finish slightly higher Friday, though the modest rebound was not enough to keep the S&P 500 from breaking its longest stretch of weekly gains in two years.
By Associated Press, Wire Service Content Nov. 22, 2019, at 5:17 p.m.

By ALEX VEIGA and STAN CHOE, AP Business Writers

U.S. stocks shook off a midday stumble to finish slightly higher Friday, though the modest rebound was not enough to keep the S&P 500 from breaking its longest stretch of weekly gains in two years.

Banks, health care stocks and companies that rely on consumer spending powered much of the rebound, outweighing losses in technology, real estate and other sectors. Oil prices fell.

Markets around the world churned this week on uncertainty about whether the U.S. and China can soon halt their trade dispute, or at least stop it from escalating. New U.S. tariffs are set to hit Dec. 15 on many Chinese-made items on holiday shopping checklists, such as smartphones and laptops.

Tariffs already put in place have hurt manufacturing around the world, and businesses have held back on spending given all the uncertainty about where the rules of global trade will end up.

President Donald Trump said a deal between the world’s largest economies is “potentially very close” after Chinese President Xi Jinping said Beijing is working to “try not to have a trade war,” but will nevertheless fight back if necessary.

Even with the run of selling this week, major indexes remained close to the all-time highs they set during steady, six-week upward move. The benchmark S&P 500 ended the week within 0.4% of its record high set on Monday.

“Investors are basically saying the market is overbought and they’ll wait to step back in after we see some sort of resetting of prices,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 rose 6.75 points, or 0.2%, to 3,110.29. It had earlier been up 0.3% and then down 0.1%.

The Dow Jones Industrial Average gained 109.33 points, or 0.4%, to 27,875.62. The Nasdaq composite added 13.67 points, or 0.2%, to 8,519.88.

Traders favored smaller company stocks, giving the Russell 2000 index a gain of 4.98 points, or 0.3%, to 1,588.94.

Major stock indexes in Europe also finished broadly higher. Bond prices were little changed. The yield on the 10-year Treasury held steady at 1.77%.

Despite the mostly down week, the major U.S. stock indexes are on track for strong gains this year. The S&P 500 and Nasdaq are up by more than 24%, while the Dow is up nearly 20%.

Hopes that Washington and Beijing can make progress on a trade deal helped spur the market higher since late October, along with surprisingly good corporate earnings, solid economic data and interest-rate cuts by the Federal Reserve.

Stocks receded from those highs this week as investors grew more doubtful about the prospects of a trade deal. Doubts have persisted despite some encouraging remarks from the presidents of both nations.

Trump said “we have a very good chance to make a deal” in an interview with Fox News after reports through the week raised the possibility that a “Phase 1” agreement may not be in place until 2020.

In Beijing, Xi earlier told a visiting U.S. business delegation, “We want to work for a Phase 1 agreement on the basis of mutual respect and equality."

Investors have heard such remarks before throughout the long-running trade war, however.

“There have been too many times that the president has tweeted or he has had some of his underlings mention that a trade deal is imminent only to have nothing happen or to have the threat of postponement,” Stovall said.

Traders sized up another batch of corporate earnings from retailers Friday.

Nordstrom surged 10.6% after the retailer said it made a bigger profit last quarter than Wall Street expected.

It was a bright spot for the retail sector after a long list of mall-based clothing retailers delivered weak third-quarter earnings reports. Macy’s cut its profit and sales forecast for the year as shoppers continue to head online instead of to the store. The department store climbed 5.2% Friday, though it still ended down more than 8% for the week.

Nearly 96% of companies in the S&P 500 have now told investors how much profit they made during the summer, and they’re on pace to report a drop of 2.3% from a year earlier. That’s not as bad as the 4% drop that analysts were earlier expecting.

Tesla skidded 6.1% after some analysts panned the unveiling of its electric pickup truck. It’s aiming at the most profitable part of the North American market, but investors are skeptical about how many traditional pickup drivers the blocky, angular looks of Tesla’s “Cybertruck” will draw.

Crude oil fell 81 cents to settle at $57.77 a barrel. Brent crude oil, the international standard, dropped 58 cents to close at $63.39 a barrel. Wholesale gasoline fell 3 cents to $1.67 per gallon. Heating oil declined 1 cent to $1.93 per gallon. Natural gas rose 10 cents to $2.67 per 1,000 cubic feet.

Gold was unchanged at $1,463.10 per ounce, silver fell 6 cents to $16.99 per ounce and copper rose 3 cents to $2.65 per pound.

The dollar fell to 108.65 Japanese yen from 108.66 yen on Thursday. The euro weakened to $1.1020 from $1.1059.

176


----------



## bigdog

A flurry of buyout deals and rising optimism about U.S.-China trade talks sent stocks back to record heights Monday, the latest bit of fuel for a market that’s been climbing since early last month.

Technology stocks and smaller companies led the way after China issued new guidelines for the protection of patents and copyrights. Theft of such intellectual property has been a big sticking point in the trade war between the world’s largest economies, and markets saw China’s move as an encouraging sign for negotiations on the first phase of a deal.

Not only did stocks rise worldwide, the price of gold fell as investors saw less need for safety. A measure of fear in the U.S. stock market called the VIX volatility index also touched its lowest level since July.

The S&P 500 rose 23.35 points, or 0.8%, to 3,133.64. The Dow Jones Industrial Average climbed 190.85, or 0.7%, to 28,066.47, and the Nasdaq composite jumped 112.60, or 1.3%, to 8,632.49. All three indexes set records.

The Russell 2000 index of small-cap stocks rose even more, though it is still below its peak set last year. It surged 32.96, or 2.1%, to 1,621.90.

Stocks have been rallying for weeks as worries about a possible U.S. recession have faded. A resilient job market, which helps households continue to spend, and three interest-rate cuts by the Federal Reserve have bolstered confidence.

The S&P/ASX 200 index looks set to push higher again on Tuesday. According to the latest SPI futures, the benchmark index is expected to rise 28 points or 0.4% at the open.










https://www.usnews.com/news/busines...es-advance-amid-hopes-for-us-china-trade-deal

*US Stocks Jump to Records as Tech, Small Companies Lead Way*
A flurry of buyout deals and rising optimism about U.S.-China trade talks sent stocks back to record heights Monday, the latest bit of fuel for a market that’s been climbing since early last month.
By Associated Press, Wire Service Content Nov. 25, 2019, at 4:31 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — A flurry of buyout deals and rising optimism about U.S.-China trade talks sent stocks back to record heights Monday, the latest bit of fuel for a market that’s been climbing since early last month.

Technology stocks and smaller companies led the way after China issued new guidelines for the protection of patents and copyrights. Theft of such intellectual property has been a big sticking point in the trade war between the world’s largest economies, and markets saw China’s move as an encouraging sign for negotiations on the first phase of a deal.

Not only did stocks rise worldwide, the price of gold fell as investors saw less need for safety. A measure of fear in the U.S. stock market called the VIX volatility index also touched its lowest level since July.

The S&P 500 rose 23.35 points, or 0.8%, to 3,133.64. The Dow Jones Industrial Average climbed 190.85, or 0.7%, to 28,066.47, and the Nasdaq composite jumped 112.60, or 1.3%, to 8,632.49. All three indexes set records.

The Russell 2000 index of small-cap stocks rose even more, though it is still below its peak set last year. It surged 32.96, or 2.1%, to 1,621.90.

Stocks have been rallying for weeks as worries about a possible U.S. recession have faded. A resilient job market, which helps households continue to spend, and three interest-rate cuts by the Federal Reserve have bolstered confidence.

Optimism has not been as high for other economies around the world, though, where growth remains slow, said David Kelly, chief global strategist at JPMorgan Asset Management.

“People are still nervous about the rest of the world,” he said. “All of this is sort of acting as funnel, directing cash into U.S. equities.”

More clues about the resilience of U.S. consumer spending should arrive soon when retailers report on this week’s kickoff of the holiday shopping season. Economists say it needs to remain healthy given pullbacks in spending by businesses amid all the trade uncertainty.

“It’s a battle between nervous businesses and confident consumers,” Kelly said.

Some companies showed confidence to spend Monday by announcing big buyout deals.

Charles Schwab said it would buy rival TD Ameritrade for about $26 billion, and French luxury group LVMH agreed to pay $16.2 billion for Tiffany.

Tiffany jumped 6.2% for one of the biggest gains in the S&P 500, while Schwab rose 2.3% and TD Ameritrade gained 7.6%.

Technology stocks had the largest gain among the 11 sectors that make up the S&P 500, up 1.4%. Many tech companies have deep ties to China, depending on both suppliers and customers there, and their stocks prices have often swung with sentiment about trade talks. Nvidia jumped 4.9%.

Utilities were the only sector in the S&P 500 to fall. Other stocks known as “defensive” investments, which tend to be in favor when the economy is slowing, also lagged the rest of the market.

The upcoming week will be a short one for investors, with trading closed on Thursday for the Thanksgiving holiday. Otherwise, highlights include reports on consumer confidence, the housing market’s strength and consumer spending.

In overseas markets, the Nikkei 225 in Tokyo rose 0.8%, South Korea’s Kospi gained 1% and the Hang Seng in Hong Kong jumped 1.5%. London’s FTSE 100 climbed 0.9%, France’s CAC 40 gained 0.5% and Germany’s DAX returned 0.6%.

Benchmark crude oil rose 24 cents to settle at $58.01 a barrel. Brent crude oil, the international standard, rose 26 cents to $63.65 a barrel. Wholesale gasoline was unchanged at $1.67 per gallon. Heating oil climbed 1 cent to $1.94 per gallon. Natural gas fell 14 cents to $2.53 per 1,000 cubic feet.

Gold fell $6.50 to $1,456.60 per ounce, silver fell 12 cents to $16.87 per ounce and copper was unchanged at $2.65 per pound.

The yield on the 10-year Treasury fell to 1.75% from 1.77% late Friday.

The dollar rose to 108.97 Japanese yen from 108.65 yen on Friday. The euro weakened to $1.1009 from $1.1020.


----------



## bigdog

More encouraging signs that trade talks between the U.S. and China are on track kept investors in a buying mood Tuesday, nudging the major stock indexes to record highs for the second straight day.

Retailers and other companies that rely on consumer spending helped power the modest rally, which adds to the market’s solid start to the week. Only energy, banks and health care sector stocks ended with losses. Bond prices rose, sending yields lower.

Beijing said Tuesday that negotiators for both sides met earlier in the day and agreed to more talks aimed at reaching a deal. The latest development came a day after China announced new guidelines for the protection of patents and copyrights, which has been a key issue in the dispute.

Investors have grown more hopeful over trade negotiations as the world’s two largest economies continue to keep their rhetoric in check. That’s a clear difference from earlier this year, when a sharp comment from either side would seemingly silence any ongoing talks and worsen relations.

The S&P 500 index rose 6.88 points, or 0.2%, to 3,140.52. The benchmark index is on a three-day winning streak. The Dow Jones Industrial Average gained 55.21 points, or 0.2%, to 28,121.68.

The Nasdaq composite added 15.44 points, or 0.2%, to 8,647.93. The Russell 2000 index of smaller company stocks picked up 2.33 points, or 0.1%, to 1,624.23.

The major stock indexes are on track for strong gains this year. The S&P 500 is up by more than 25%, while the Dow is up by more than 20%. The Nasdaq, meanwhile, is now up by more than 30%.

The S&P/ASX 200 index looks to have run out of steam on Wednesday. According to the latest SPI futures, the S&P/ASX 200 index is expected to fall 13 points or 0.2% at the open.










https://www.usnews.com/news/busines...es-mixed-following-wall-street-tech-led-rally

*Major US Stock Indexes Hit Record Highs Amid Trade Optimism*
More encouraging signs that trade talks between the U.S. and China are on track kept investors in a buying mood Tuesday, nudging the major stock indexes to record highs for the second straight day.
By Associated Press, Wire Service Content Nov. 26, 2019, at 4:36 p.m.

By ALEX VEIGA, AP Business Writer

More encouraging signs that trade talks between the U.S. and China are on track kept investors in a buying mood Tuesday, nudging the major stock indexes to record highs for the second straight day.

Retailers and other companies that rely on consumer spending helped power the modest rally, which adds to the market’s solid start to the week. Only energy, banks and health care sector stocks ended with losses. Bond prices rose, sending yields lower.

Beijing said Tuesday that negotiators for both sides met earlier in the day and agreed to more talks aimed at reaching a deal. The latest development came a day after China announced new guidelines for the protection of patents and copyrights, which has been a key issue in the dispute.

Investors have grown more hopeful over trade negotiations as the world’s two largest economies continue to keep their rhetoric in check. That’s a clear difference from earlier this year, when a sharp comment from either side would seemingly silence any ongoing talks and worsen relations.

“Generally, you can kind of look at the commentary coming out and I’d say it leans in the direction of progress being made, albeit at a fairly slow pace,” said Jason Pride, chief investment officer of private wealth at Glenmede Trust.

The S&P 500 index rose 6.88 points, or 0.2%, to 3,140.52. The benchmark index is on a three-day winning streak. The Dow Jones Industrial Average gained 55.21 points, or 0.2%, to 28,121.68.

The Nasdaq composite added 15.44 points, or 0.2%, to 8,647.93. The Russell 2000 index of smaller company stocks picked up 2.33 points, or 0.1%, to 1,624.23.

The major stock indexes are on track for strong gains this year. The S&P 500 is up by more than 25%, while the Dow is up by more than 20%. The Nasdaq, meanwhile, is now up by more than 30%.

Surprisingly good corporate earnings, solid economic data, interest-rate cuts by the Federal Reserve and more optimism on the part of investors about the prospects for a U.S.-China trade deal have helped spur the market higher since late October.

The latest signals indicating that both sides are continuing to pursue a deal have been particularly encouraging, as new U.S. tariffs are set to hit Dec. 15 on many Chinese-made items on holiday shopping checklists, such as smartphones and laptops.

Investors hoping that Washington and Beijing can agree on terms of a deal that halts their trade dispute, or at least stops it from escalating.

Traders also got a new read on the U.S. consumer Tuesday. The Conference Board said its closely watched consumer confidence index fell slightly for the fourth consecutive month to 125.5. Still, the reading remains elevated ahead of the holiday shopping season.

Investors will have several other economic reports to assess on Wednesday, including home sales data, a key measure of inflation and the government’s latest quarterly estimate of economic growth.

Several retailers closed out the latest round of corporate earnings with varied results Tuesday.

Consumer electronics seller Best Buy jumped 9.9% after handily beating Wall Street’s profit expectations for the quarter while giving a surprisingly good profit forecast.

Dick’s Sporting Goods surged 18.6% after blowing away analysts’ profit forecasts for the third quarter, while Burlington Stores vaulted 8.5% after the discount retailer of coats, jackets and other clothing reported quarterly results that topped analysts’ forecasts. The company also raised its earnings guidance.

Other retailers didn’t have a good day.

Discount retailer Dollar Tree plunged 15.2% after its profit fell short of Wall Street expectations. Clothing chain operator Abercrombie & Fitch slid 2.6% after the company lowered the top end of its revenue guidance.

Hormel Foods led a broad gain in consumer goods makers. The stock rose 3.6%.

Real estate sector stocks also notched gains. American Tower added 2.4%.

Bond prices rose. The yield on the 10-year Treasury fell to 1.74% from 1.76% late Monday.

The lower yields weighed on banks, which use them to set interest rates on mortgages and other loans. Bank of America, Citigroup and Wells Fargo all fell.

Benchmark crude oil rose 40 cents to settle at $58.41 a barrel. Brent crude oil, the international standard, gained 62 cents to close at $64.27 a barrel. Wholesale gasoline rose 3 cents to $1.70 per gallon. Heating oil climbed 2 cents to $1.96 per gallon. Natural gas fell 7 cents to $2.46 per 1,000 cubic feet.

Gold rose $3.20 to $1,459.80 per ounce, silver rose 16 cents to $17.03 per ounce and copper rose 1 cent to $2.66 per pound.

The dollar rose to 109.04 Japanese yen from 108.97 yen on Monday. The euro strengthened to $1.1022 from $1.1009.

Major stock indexes in Europe finished mostly higher.


----------



## bigdog

U.S. markets will be closed Thursday for Thanksgiving. They'll be open for a half day on Friday.

Investors capped a day of light trading on Wall Street ahead of the Thanksgiving holiday by serving up another set of stock market record highs.

The S&P 500, Dow Jones Industrial Average and Nasdaq composite closed at all-time highs for the third straight day Wednesday. And the Russell 2000 index of smaller companies hit its highest level in a year.

A batch of positive U.S. economic data helped spur the broad rally, extending the market’s recent string of gains. Stock indexes have been breaking records in recent weeks as the U.S. and China have signaled that negotiations aimed at resolving their costly trade war are going well.

The latest economic data helped keep investors in a buying mood. The Commerce Department said Wednesday that the economy grew at a 2.1% rate last quarter, outpacing forecasts. The government also reported a surprisingly good increase in orders to U.S. factories and a pickup in consumer spending.

The S&P 500 index rose 13.11 points, or 0.4%, to 3,153.63. The benchmark index is on a four-day winning streak.

The Dow gained 42.32 points, or 0.2%, to 28,164. The Nasdaq climbed 57.24 points, or 0.7%, to 8,705.18. The Russell 2000 added 9.87 points, or 0.6%, to 1,634.10.

The S&P/ASX 200 index could make it another day of gains on Thursday. According to the latest SPI futures, the ASX 200 index is expected to rise 19 points or 0.3% at the open.










https://www.newser.com/article/d09d...ve-us-stock-indexes-to-more-record-highs.html

*Modest gains drive US stock indexes to more record highs*
By ALEX VEIGA, Associated Press

Investors capped a day of light trading on Wall Street ahead of the Thanksgiving holiday by serving up another set of stock market record highs.

The S&P 500, Dow Jones Industrial Average and Nasdaq composite closed at all-time highs for the third straight day Wednesday. And the Russell 2000 index of smaller companies hit its highest level in a year.

A batch of positive U.S. economic data helped spur the broad rally, extending the market’s recent string of gains. Stock indexes have been breaking records in recent weeks as the U.S. and China have signaled that negotiations aimed at resolving their costly trade war are going well.

The latest economic data helped keep investors in a buying mood. The Commerce Department said Wednesday that the economy grew at a 2.1% rate last quarter, outpacing forecasts. The government also reported a surprisingly good increase in orders to U.S. factories and a pickup in consumer spending.

"This is an environment where we continue an economic expansion, albeit at a somewhat slower rate," said Bill Northey, senior investment director at U.S. Bank Wealth Management. "There is a very positive sentiment around U.S. equity markets."

The S&P 500 index rose 13.11 points, or 0.4%, to 3,153.63. The benchmark index is on a four-day winning streak.

The Dow gained 42.32 points, or 0.2%, to 28,164. The Nasdaq climbed 57.24 points, or 0.7%, to 8,705.18. The Russell 2000 added 9.87 points, or 0.6%, to 1,634.10.

Stocks have regained their footing after stumbling last week. The S&P 500 index is on track for a 1.4% weekly gain as it continues setting records. The Nasdaq is up 2.2% for the week, which would mark its strongest gain since the end of summer.

The stock market has been notching gains steadily since October, shaking off recession fears that helped knock stocks into a skid in August.

Surprisingly good corporate earnings, solid economic data and interest-rate cuts by the Federal Reserve have helped set the stage for the market’s fall rally. Investors have also grown more optimistic about the prospects for a U.S.-China trade deal.

Traders continue to wait for developments in the latest round of negotiations between the world’s largest economies. The key question is whether both sides will be able to reach a deal before Dec. 15, when new tariffs are set to kick in on many Chinese-made items, including smartphones and laptops.

Pressure is building on both sides to complete a limited "phase one" deal before the deadline, though the Trump administration could end up postponing it, as it did in October, to allow more time for talks.

Investors hope that negotiations can progress enough to at least help suspend the scheduled escalation.

"There is a ticking clock," Northey said, referring to the tariffs scheduled to go into effect next month. "But at the margin right now we do seem to have progress, rather than slipping backward with respect to the 'phase one' trade deal."

Technology stocks and companies that rely on consumer spending notched some of the biggest gains Wednesday. AutoDesk climbed 5.5% and Under Armour gained 6.2%.

Health care and communication services stocks also helped lift the market. Mylan rose 2.6% and Comcast added 2%.

Banks also made gains. The yield on the 10-year Treasury rose to 1.76% from 1.74% late Tuesday. Higher bond yields allow banks to charge more lucrative interest on mortgages and other loans. Wells Fargo rose 1%.

Industrial companies lagged the market, weighed down by Boeing and Deere & Co.

Deere slid 4.3% after giving investors a weak profit forecast because farmers are spending less money on new equipment. The maker of tractors, backhoes and other agricultural machinery said the trade war and a difficult growing season has kept farmers cautious about making major investments.

Boeing fell 1.5% after federal safety regulators indicated that they will keep full control over approvals of each new 737 Max built. The Federal Aviation Administration’s decision affects more than 300 finished Max jets currently sitting in storage.

Benchmark crude oil fell 30 cents to settle at $58.11 a barrel. Brent crude oil, the international standard, dropped 21 cents to close at $64.06 a barrel. Wholesale gasoline fell 2 cents to $1.68 per gallon. Heating oil declined 1 cent to $1.95 per gallon. Natural gas fell 3 cents to $2.50 per 1,000 cubic feet.

Gold fell $6.90 to $1,453.40 per ounce, silver fell 14 cents to $16.91 per ounce and copper fell 1 cent to $2.67 per pound.

The dollar rose to 109.59 Japanese yen from 109.04 yen on Tuesday. The euro weakened to $1.1004 from $1.1022.

Major stock indexes in Europe finished mixed.

U.S. markets will be closed Thursday for Thanksgiving. They'll be open for a half day on Friday.


----------



## bigdog

Stock markets fell Thursday after President Donald Trump signed a bill supporting human rights in Hong Kong, potentially increasing tensions as the U.S. and China talk about ending their trade war. Trading volumes were muted, however, with the U.S. closed for Thanksgiving.

China reacted with indignation to the legislation, which Congress passed with overwhelming support. Beijing summoned U.S. Ambassador Terry Branstad for a dressing down and issued multiple statements threatening unspecified countermeasures.

In Hong Kong, where sometimes violent protests have dragged on for nearly six months, the Hang Seng index lost 0.2% to 26,893.73. The Shanghai Composite index lost 0.5% to 2,889.69.

In Europe, Britain’s FTSE 100 declined 0.4% to 7,402 and the CAC 40 in Paris gave up 0.3% to 5,908. Germany’s DAX declined 0.4% to 13,235.

The Australian share market is expected to hit its highest level, beating yesterday's record high, despite a slightly pessimistic tone across foreign markets overnight

*U.S. markets were closed Thursday for Thanksgiving*











https://www.usnews.com/news/busines...etreat-after-trump-approval-of-hong-kong-bill

*World Shares Retreat After Trump Approves Hong Kong Bill*
World shares are down after U.S. President Donald Trump signed a bill expressing support for human rights in Hong Kong.
By Associated Press, Wire Service Content Nov. 28, 2019, at 8:59 a.m.

By ELAINE KURTENBACH, AP Business Writer

BEIJING (AP) — Stock markets fell Thursday after President Donald Trump signed a bill supporting human rights in Hong Kong, potentially increasing tensions as the U.S. and China talk about ending their trade war. Trading volumes were muted, however, with the U.S. closed for Thanksgiving.

China reacted with indignation to the legislation, which Congress passed with overwhelming support. Beijing summoned U.S. Ambassador Terry Branstad for a dressing down and issued multiple statements threatening unspecified countermeasures.

In Hong Kong, where sometimes violent protests have dragged on for nearly six months, the Hang Seng index lost 0.2% to 26,893.73. The Shanghai Composite index lost 0.5% to 2,889.69.

In Europe, Britain’s FTSE 100 declined 0.4% to 7,402 and the CAC 40 in Paris gave up 0.3% to 5,908. Germany’s DAX declined 0.4% to 13,235.

U.S. futures were modestly lower, with the contracts for both the Dow Jones Industrial Average and the S&P 500 losing 0.3% and 0.2%. U.S. markets will remain closed Thursday for Thanksgiving and open for a half day on Friday.

Trump’s move did not come as a surprise, given the pressure from both Democrat and Republican lawmakers to support the legislation. But it’s unclear if the human rights bill, which Beijing views as “meddling” in China’s internal affairs, might derail recent progress in trade talks with Washington.

“We urge the U.S. to not continue going down the wrong path, or China will take countermeasures, and the U.S. must bear all consequences,” the Chinese Foreign Ministry said in a statement.

Markets appeared to be taking the developments in stride, said Stephen Innes of AxiTrader, “on the assumption that the U.S. legislation is unlikely to torpedo phase one. But of course, it does provide a stark reminder that on one level or another, U.S.-China frictions are always going to be a thorn in the markets’ side.”

The key question in China-U.S. trade negotiations is whether they will be able to reach a deal before Dec. 15, when new tariffs are set to kick in on many Chinese-made items, including smartphones and laptops.

Pressure is building on both sides to complete a limited "phase one" deal before the deadline, though the Trump administration could end up postponing it, as it did in October, to allow more time for talks.

Japan’s Nikkei 225 index lost 0.1% to 23,409.14 while the Kospi in Seoul shed 0.4% to 2,118.60. Australia’s S&P ASX 200 gained 0.2% to 6,864.00. India’s Sensex added 0.1% to 41,059.51.

On Wednesday, investors capped a day of light trading on Wall Street by serving up another set of stock market record highs. The S&P 500, Dow and Nasdaq closed at all-time highs for the third straight day.

Benchmark crude oil lost 22 cents to $57.89 per barrel in electronic trading on the New York Mercantile Exchange. It fell 30 cents on Wednesday. Brent crude oil, the international standard, gave up 12 cents to $62.89 per barrel.

The dollar slipped to 109.50 Japanese yen from 109.54 yen on Wednesday. The euro was steady at $1.1007.


----------



## bigdog

Stocks fell broadly on Wall Street Friday following a shortened trading session a day after the Thanksgiving holiday that left the market slightly below its record highs.

Technology, health care and industrial stocks accounted for a big slice of the selling. Several big retailers also dragged the market lower as traders watched for signs that Black Friday got off to a strong start. Energy stocks took the heaviest losses as crude oil prices fell sharply. Bond yields rose.

Even with the pullback, the S&P 500 notched its seventh weekly gain in eight weeks. The benchmark index also closed out November with its strongest monthly gain since June.

"You had three solid days, plus the S&P was at an all-time high as of the close on Wednesday,” said Tom Martin, senior portfolio manager with Globalt Investments. “Really, from early October until now, it's been almost like a ruler straight up."

The S&P 500 index dropped 12.65 points, or 0.4%, to 3,140.98. The index hit all-time highs the first three days of the week.

The Dow Jones Industrial Average fell 112.59 points, or 0.4%, to 28,051.41. The Nasdaq slid 39.70 points, or 0.5%, to 8,665.47. The Russell 2000 index of smaller company stocks gave up 9.60 points, or 0.6%, or 1,624.50. Trading volume was lighter than usual with the markets open for only a half day.











*Chart DOW vs AORD



*

https://www.usnews.com/news/busines...es-slide-on-weak-japan-data-us-markets-closed

*US Stocks Close Out Half-Day Session With Broad Losses*
Stocks fell broadly on Wall Street Friday following a shortened trading session a day after the Thanksgiving holiday that left the market slightly below its record highs.
By Associated Press, Wire Service Content Nov. 29, 2019, at 3:19 p.m.

By ALEX VEIGA, AP Business Writer

Stocks fell broadly on Wall Street Friday following a shortened trading session a day after the Thanksgiving holiday that left the market slightly below its record highs.

Technology, health care and industrial stocks accounted for a big slice of the selling. Several big retailers also dragged the market lower as traders watched for signs that Black Friday got off to a strong start. Energy stocks took the heaviest losses as crude oil prices fell sharply. Bond yields rose.

Even with the pullback, the S&P 500 notched its seventh weekly gain in eight weeks. The benchmark index also closed out November with its strongest monthly gain since June.

"You had three solid days, plus the S&P was at an all-time high as of the close on Wednesday,” said Tom Martin, senior portfolio manager with Globalt Investments. “Really, from early October until now, it's been almost like a ruler straight up."

The S&P 500 index dropped 12.65 points, or 0.4%, to 3,140.98. The index hit all-time highs the first three days of the week.

The Dow Jones Industrial Average fell 112.59 points, or 0.4%, to 28,051.41. The Nasdaq slid 39.70 points, or 0.5%, to 8,665.47. The Russell 2000 index of smaller company stocks gave up 9.60 points, or 0.6%, or 1,624.50. Trading volume was lighter than usual with the markets open for only a half day.

Bond prices fell. The yield on the 10-year Treasury rose to 1.77% from 1.76% late Wednesday.

The three major stock indexes have notched multiple record highs in recent weeks. That helped drive their gains in November. The S&P 500 ended the month with a 3.4% gain, while the Dow rose 3.7%. The Nasdaq, which is weighted heavily with technology stocks, gained 4.5%.

The stock market has been grinding mostly higher after shaking off recession fears that helped knock stocks into a skid this summer.

Better-than-expected corporate earnings, solid economic data and interest-rate cuts by the Federal Reserve helped fuel the market's fall rally. Investors have also grown more optimistic about the prospects for a trade deal between the U.S. and China.

New U.S. tariffs are set to kick in on many Chinese-made products as of Dec. 15, but negotiators have said they might soon have a preliminary deal that could avert that.

Chipmakers were among the biggest decliners in the technology sector Friday. Lam Research and Qualcomm each fell 1.5%.

Drugmakers helped pull the health stocks lower. Bristol-Myers Squibb dropped 1.1%.

Energy stocks were the biggest losers as the price of U.S. crude oil slid 5.1%. Devon Energy dropped 2.8% and Helmerich & Payne fell 2.3%.

Benchmark crude oil fell $2.94 to settle at $55.17 a barrel. Brent crude oil, the international standard, dropped $1.44 to close at $62.43 a barrel.

Shares in several big retailers declined as Black Friday, traditionally the kickoff for the holiday shopping season, got underway. Macy’s fell 1%, Gap dropped 1.8%, Kohl’s slid 2.7% and Nordstrom slipped 0.4%.

Some bucked the downward trend. J.C. Penney rose 1.8%, Walmart added 0.3% and TJX, parent of T.J. Maxx, Marshalls and other stores, gained 0.3%.

This year retailers have less time to woo consumers because Thanksgiving fell on the fourth Thursday in November, making the holiday shopping season six days shorter.

The National Retail Federation baked the shorter season into its forecast, which calls for holiday sales to rise between 3.8% and 4.2%, an increase from the disappointing 2.1% growth seen in the November and December 2018 period.

"Black Friday really starts on Nov. 1 and goes all the way until the end of December, so you have this two-month period that you really have to look at before you really see how well companies are doing," Martin said.

Traders bid up shares in Tech Data after Apollo Global Management raised its offer to buy the technology company to $145 per share in cash from $130. The stock surged 12.3%.

U.S. Steel fell 5.8% following reports that a water pipe burst at the company’s steel mill in Gary, Indiana.

In other commodities trading, wholesale gasoline fell 8 cents to $1.60 per gallon. Heating oil declined 7 cents to $1.88 per gallon. Natural gas dropped 22 cents to $2.28 per 1,000 cubic feet.

Gold rose $11.90 to $1,472.70 per ounce, silver gained 5 cents to $17.11 per ounce and copper fell 3 cents to $2.66 per pound.

The dollar fell to 109.48 Japanese yen from 109.53 yen on Thursday. The euro strengthened to $1.1017 from $1.1009.

Major stock indexes in Europe ended broadly lower.

504


----------



## bigdog

Technology companies led a broad slide for stocks on Wall Street Monday, handing the market a downbeat start to the month after notching strong gains in November.

Industrial, communication services and financial stocks also accounted for a big share of the sell-off. Energy stocks notched the biggest gain, aided by a 1.4% increase in the price of U.S. crude oil. Bond yields rose.

Trade tensions flared with China’s diplomatic retaliation for U.S. support of protesters in Hong Kong, putting investors in a selling mood. The selling accelerated after the U.S. government issued weak manufacturing and construction spending reports.

Wall Street has been hoping that the world’s two biggest economies can make progress toward at least stalling new tariffs scheduled for Dec. 15 on $160 billion worth of Chinese products, including smartphones and laptops. The latest friction between Washington and Beijing could hamper that progress.

“The market is getting increasingly anxious that it’s possible, perhaps not likely, that the tariffs are imposed on Dec. 15, thus escalating the tariff trade war,” said Quincy Krosby, chief market strategist at Prudential Financial.

The S&P 500 index fell 27.11 points, or 0.9%, to 3,113.87. The Dow Jones Industrial Average dropped 268.37 points, or 1%, to 27,783.04.

The Nasdaq lost 97.48 points, or 1.1%, to 8,567.99. The Russell 2000 index of smaller company stocks gave up 16.92 points, or 1%, to 1,607.58.

The S&P/ASX 200 index looks set to sink lower on Tuesday. According to the latest SPI futures, the ASX 200 index is expected to fall 1.2% or 84 points at the open.











http://www.dailyjournal.net/2019/12/02/financial-markets-26/

*US stocks stumble amid trade tensions, weak economic data*
By ALEX VEIGA and DAMIAN J. TROISE -
12/2/19 4:52 PM

Technology companies led a broad slide for stocks on Wall Street Monday, handing the market a downbeat start to the month after notching strong gains in November.

Industrial, communication services and financial stocks also accounted for a big share of the sell-off. Energy stocks notched the biggest gain, aided by a 1.4% increase in the price of U.S. crude oil. Bond yields rose.

Trade tensions flared with China’s diplomatic retaliation for U.S. support of protesters in Hong Kong, putting investors in a selling mood. The selling accelerated after the U.S. government issued weak manufacturing and construction spending reports.

Wall Street has been hoping that the world’s two biggest economies can make progress toward at least stalling new tariffs scheduled for Dec. 15 on $160 billion worth of Chinese products, including smartphones and laptops. The latest friction between Washington and Beijing could hamper that progress.

“The market is getting increasingly anxious that it’s possible, perhaps not likely, that the tariffs are imposed on Dec. 15, thus escalating the tariff trade war,” said Quincy Krosby, chief market strategist at Prudential Financial.

The S&P 500 index fell 27.11 points, or 0.9%, to 3,113.87. The Dow Jones Industrial Average dropped 268.37 points, or 1%, to 27,783.04.

The Nasdaq lost 97.48 points, or 1.1%, to 8,567.99. The Russell 2000 index of smaller company stocks gave up 16.92 points, or 1%, to 1,607.58.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.82% from 1.77% late Friday.

The stumbling start to December is a departure from the market’s strong performance last month. The S&P 500 closed out November with its best monthly gain since June. Last week also marked the benchmark index’s seventh weekly gain in eight weeks. In that time span, the S&P 500, Dow Jones Industrial Average and Nasdaq each set multiple record closing highs.

Investor optimism that the U.S. and China were nearing a trade deal helped spur the market’s milestone-setting run this fall, lifting it from a summer slide brought on by recession fears and uncertainty over trade.

The negotiations to end the longstanding trade war could face a tougher path this month following a flareup over Hong Kong, however.

China said Monday it will suspend U.S. military ship and aircraft visits to the semi-autonomous territory and sanction several American pro-democracy groups in retaliation against Washington for enacting into law legislation supporting anti-government protests.

The law, signed last Wednesday by President Donald Trump, mandates sanctions on Chinese and Hong Kong officials who carry out human rights abuses and requires an annual review of the favorable trade status that Washington grants Hong Kong.

In other trade developments, President Trump on Monday accused Argentina and Brazil of hurting American farmers through currency manipulation and said he’ll slap tariffs on their steel and aluminum imports to retaliate.

Both South American nations were among a group of U.S. allies that Trump had exempted from steel and aluminum tariffs in March 2018. United States Steel climbed 4.2% and AK Steel rose 4.7% after Trump’s remarks.

New data on manufacturing and construction spending also helped drag stock indexes lower Monday.

U.S. manufacturing shrank more than expected in November, according to figures released by the Institute for Supply Management.

Solid job growth, along with consumer spending, have been among the key factors pushing economic growth. But manufacturing has been a weak spot in the broader economy. Still, investors were not expecting the latest data to show further weakness, Krosby said.

“That triggered the market’s concerns about the economic underpinning of the economy,” she said.

Homebuilders fell broadly after the government report showing that spending on construction projects declined unexpectedly in October. Hovnanian Enterprises slumped 6.9%.

Other key reports are due out this week which should help shed light on the health of the economy.

A report on the services sector, which makes up the bulk of the economy, is expected on Wednesday, as is payroll processor ADP’s latest survey of hiring by private companies. The Labor Department will release its closely watched employment data on Friday.

Technology stocks were the biggest drag on the market Monday. Many of the companies in that sector rely on China for sales and supply chains and can become very volatile with new developments in trade negotiations. Adobe fell 2.2% and Microsoft slid 1.2%.

Industrial and communication services companies also moved lower. Honeywell shed 2.4% and Netflix dropped 1.5%.

Energy stocks held up the best as oil prices rose. Halliburton gained 1.4%.

Companies that make or sell consumer goods such as cigarettes, food and beverages also eked out a gain. Hormel Foods added 2% and Campbell Soup rose 1.4%.

Benchmark crude oil rose 79 cents to settle at $55.96 a barrel. Brent crude oil, the international standard, gained 43 cents to close at $60.92 a barrel. Wholesale gasoline fell 2 cents to $1.57 per gallon. Heating oil climbed 1 cent to $1.89 per gallon. Natural gas rose 5 cents to $2.33 per 1,000 cubic feet.

Gold fell $3.30 to $1,462.30 per ounce, silver fell 13 cents to $16.84 per ounce and copper fell 1 cent to $2.63 per pound.

The dollar fell to 108.98 Japanese yen from 109.48 yen on Friday. The euro strengthened to $1.1078 from $1.1017.

European markets closed broadly lower Monday.


----------



## bigdog

Stocks closed broadly lower and bond prices rose sharply on Wall Street Tuesday after President Donald Trump cast doubt over the potential for a trade deal with China this year.

Technology companies, banks and industrial stocks accounted for much of the sell-off, which extended the S&P 500’s losing streak to a third day. Utilities and real estate stocks rose as traders favored less-risky assets.

Trump said he has “no deadline” for a trade deal and doesn’t mind waiting until after the 2020 election to make one. Investors had been hoping for a deal this year, or at least enough progress to stave off new U.S. tariffs on Chinese goods, including smartphones and laptops, scheduled to start Dec. 15.

Tensions between the two nations flared anew last week after Trump signed legislation expressing U.S. support for pro-democracy demonstrators in Hong Kong.

“We’re running out of time and the markets are finally woken up to ‘Hey, there’s a risk out there and maybe things aren’t going to be all good after all,’” said Randy Frederick, vice president of trading & derivatives at Charles Schwab.

The S&P 500 index fell 20.67 points, or 0.7%, to 3,093.20. The Dow Jones Industrial Average lost 280.23 points, or 1%, to 27,502.81. The index was briefly down 457 points.

The Nasdaq dropped 47.34 points, or 0.6%, to 8,520.64. The Russell 2000 index of smaller company stocks gave up 4.95 points, or 0.3%, to 1,602.63.

The S&P/ASX 200 index looks set to sink lower for a second day in a row. According to the latest SPI futures, the ASX 200 index is expected to fall 0.9% or 62 points at the open.










https://apnews.com/383776a6a1f647fdbc83c636b721ff3d

*US stocks fall for 3rd straight day over more trade worries*
By ALEX VEIGA

Stocks closed broadly lower and bond prices rose sharply on Wall Street Tuesday after President Donald Trump cast doubt over the potential for a trade deal with China this year.

Technology companies, banks and industrial stocks accounted for much of the sell-off, which extended the S&P 500’s losing streak to a third day. Utilities and real estate stocks rose as traders favored less-risky assets.

Trump said he has “no deadline” for a trade deal and doesn’t mind waiting until after the 2020 election to make one. Investors had been hoping for a deal this year, or at least enough progress to stave off new U.S. tariffs on Chinese goods, including smartphones and laptops, scheduled to start Dec. 15.

Tensions between the two nations flared anew last week after Trump signed legislation expressing U.S. support for pro-democracy demonstrators in Hong Kong.

“We’re running out of time and the markets are finally woken up to ‘Hey, there’s a risk out there and maybe things aren’t going to be all good after all,’” said Randy Frederick, vice president of trading & derivatives at Charles Schwab.

The S&P 500 index fell 20.67 points, or 0.7%, to 3,093.20. The Dow Jones Industrial Average lost 280.23 points, or 1%, to 27,502.81. The index was briefly down 457 points.

The Nasdaq dropped 47.34 points, or 0.6%, to 8,520.64. The Russell 2000 index of smaller company stocks gave up 4.95 points, or 0.3%, to 1,602.63.

Stocks have been racking up losses this week, giving up some of the market’s solid gains from a strong November rally fueled partly by investor optimism about the prospects for a trade deal between Washington and Beijing.

Pressure has been building on both sides to complete what Trump has called a limited “Phase 1” deal before the new tariffs on Chinese goods kick in Dec. 15.

“We’re less than two weeks away from new tariffs that will be implemented on a bunch of consumer goods that have never had tariffs on them, and I think that’s when the consumer really starts to feel the pain,” Frederick said.

Wall Street is also weighing the potential for an expanded series of trade disputes. On Tuesday, Trump proposed tariffs on $2.4 billion in French products in retaliation for a tax on global tech giants including Google, Amazon and Facebook. That follows a threat Monday to raise tariffs on steel and aluminum from Argentina and Brazil.

The lack of a trade deal before the year ends could mean the market is in for a turnaround from a strong, record-setting November. The S&P 500 had its best month since June with a 3.4% gain because of cooling trade tensions and optimism that a resolution to the dispute was near.

Two days of deflated hopes has already sent the S&P 500 about 1.5% lower and the tech-heavy Nasdaq has slipped 1.7%.

December is a typically solid month for the stock market, with the S&P 500 making gains regularly since the last recession ended in 2009. Last year, though, fears about a recession and rising interest rates hurt the major indexes.

Technology stocks led the losses Tuesday. The sector is highly sensitive to twists in the trade dispute because many of the companies rely on China for sales and supply chains. Apple slumped 1.8% and Intel fell 2.8%.

Bank stocks also suffered heavy losses as investors headed for the safety of bonds and pushed yields lower. Banks rely on higher bond yields to charge more lucrative interest rates on mortgages and other loans. The yield on the 10-year Treasury fell sharply to 1.72% from 1.83% late Monday.

Bank of America shed 1.8% and Citigroup fell 1.6%.

Utilities and real estate companies held up the best as investors shifted money to the safe-play sectors.

Traders sent shares in Cleveland-Cliffs 10.7% lower after the iron-ore miner said it will pay $1.1 billion for steel maker AK Steel. U.S. steel producers have struggled since the Trump administration put a 25% steel tariff into place last year. Domestic demand has slumped as oil and gas drillers pull back on purchases of steel pipe. The price for hot rolled steel has slid almost 30% this year. AK Steel rose 4.2%.

Lands’ End vaulted 21% after the clothing maker reported surprisingly good fourth-quarter earnings and raised its profit forecast for the year.

Benchmark crude oil rose 14 cents to settle at $56.10 a barrel. Brent crude oil, the international standard, slipped 10 cents to close at $60.82 a barrel. Wholesale gasoline fell 1 cent to $1.56 per gallon. Heating oil declined 1 cent to $1.88 per gallon. Natural gas rose 11 cents to $2.44 per 1,000 cubic feet.

Gold rose $15.90 to $1,478.20 per ounce, silver rose 29 cents to $17.13 per ounce and copper fell 2 cents to $2.61 per pound.

The dollar fell to 108.57 Japanese yen from 108.98 yen on Monday. The euro strengthened to $1.1082 from $1.1078.

Asian and European markets closed lower.


----------



## bigdog

Stocks closed broadly higher Wednesday amid renewed hopes on Wall Street that a U.S. trade deal with China may be nearing, despite tough recent talk from President Donald Trump.

The gains snapped a three-day losing streak for the S&P 500, though the benchmark index remains on track for a weekly decline.

The market has swung sharply for months on every hint of progress about talks between the world’s largest economies, and the latest flip-flop followed a report from Bloomberg News saying U.S. negotiators expect a “Phase 1” trade agreement to be completed before U.S. tariffs are set to rise on Chinese products Dec. 15.

The report came a day after Trump said he wouldn’t mind waiting until after the 2020 elections for a deal, a remark that officials reportedly called off the cuff but nevertheless sent markets skidding.

“The trade war will be the key driver of sentiment in the immediate few weeks,” DBS Group analysts wrote in a report.

Health care and financial stocks drove much of Wednesday’s rally. Energy companies notched the biggest gain following a 4.2% increase in the price of U.S. crude oil. Materials stocks ended essentially flat.

The S&P 500 rose 19.56 points, or 0.6%, to 3,112.76. Despite recovering some losses, the index is still down 0.9% for the week.

The Dow Jones Industrial Average climbed 146.97 points, or 0.5%, to 27,649.78. The Nasdaq composite gained 46.03 points, or 0.5%, to 8,566.67. The Russell 2000 index of smaller company stocks picked up 11.27 points, or 0.7%, to 1,613.90.

After a couple of very disappointing days of trade, the S&P/ASX 200 index looks set to return to form on Thursday. According to the latest SPI futures, the ASX 200 index is expected to jump 59 points or 0.9% at the open.










https://www.usnews.com/news/busines...cks-follow-wall-street-lower-on-trade-worries

*Stocks Rise Broadly; S&P 500 Ends 3-Day Losing Streak*
Stocks closed broadly higher amid renewed hopes on Wall Street that a U.S. trade deal with China may be nearing, despite tough recent talk from President Donald Trump.
By Associated Press, Wire Service Content Dec. 4, 2019, at 4:58 p.m.

By ALEX VEIGA and STAN CHOE, AP Business Writers

Stocks closed broadly higher Wednesday amid renewed hopes on Wall Street that a U.S. trade deal with China may be nearing, despite tough recent talk from President Donald Trump.

The gains snapped a three-day losing streak for the S&P 500, though the benchmark index remains on track for a weekly decline.

The market has swung sharply for months on every hint of progress about talks between the world’s largest economies, and the latest flip-flop followed a report from Bloomberg News saying U.S. negotiators expect a “Phase 1” trade agreement to be completed before U.S. tariffs are set to rise on Chinese products Dec. 15.

The report came a day after Trump said he wouldn’t mind waiting until after the 2020 elections for a deal, a remark that officials reportedly called off the cuff but nevertheless sent markets skidding.

“The trade war will be the key driver of sentiment in the immediate few weeks,” DBS Group analysts wrote in a report.

Health care and financial stocks drove much of Wednesday’s rally. Energy companies notched the biggest gain following a 4.2% increase in the price of U.S. crude oil. Materials stocks ended essentially flat.

The S&P 500 rose 19.56 points, or 0.6%, to 3,112.76. Despite recovering some losses, the index is still down 0.9% for the week.

The Dow Jones Industrial Average climbed 146.97 points, or 0.5%, to 27,649.78. The Nasdaq composite gained 46.03 points, or 0.5%, to 8,566.67. The Russell 2000 index of smaller company stocks picked up 11.27 points, or 0.7%, to 1,613.90.

Treasury yields also recouped some of their sharp drops from earlier in the week. Rising optimism on trade means less demand for safe investments, and when prices for Treasurys fall, their yields rise.

The yield on the 10-year Treasury rose to 1.77% from 1.71% late Tuesday. It was at 1.83% on Monday.

The stock gains are the first so far this month since the market closed out a strong November rally that brought major indexes to all-time highs.

Surprisingly good company earnings and solid economic data have helped keep investors in a buying mood this fall against a backdrop of optimism that the U.S. and China were nearing a trade deal.

Beyond China, Trump has been pushing ahead on trade disputes all around the world recently. On Tuesday, he proposed tariffs on $2.4 billion in French products in retaliation for a tax on global tech giants including Google, Amazon and Facebook. That follows a threat Monday to raise tariffs on steel and aluminum from Argentina and Brazil.

The trade war has hurt manufacturers and weighed on economic growth around the world. Central banks have cut interest rates and unloaded stimulus to help spur growth. In the U.S., a strong job market is helping to prop up the economy.

A report on the U.S. job market came in surprisingly weak, which could raise doubts about what’s been the strongest part of the economy. Private employers added just 67,000 jobs last month, according to payroll processor ADP. That’s roughly half of October’s hiring pace and weaker than economists expected.

The more comprehensive jobs report from the Labor Department will arrive on Friday, and it will likely have a bigger impact on the market.

A separate report showed that U.S. services industries grew last month, but not as quickly as economists expected.

Traders shrugged off the mixed economic data Wednesday.

“This market is trading under the assumption that global growth has put a bottom in and is in the process of recovering, and nothing in the data we’ve seen today disputes that conclusion,” said Scott Ladner, chief investment officer at Horizon Investments.

A rebound in the price of crude sent oil-related stocks to the market’s biggest gains. Energy stocks in the S&P 500 rose 1.6% for the biggest gain among the 11 sectors that make up the index. Halliburton rose 4.2%, and Devon Energy added 4.6%.

Benchmark U.S. crude climbed $2.33, or 4.2%, to $58.43 per barrel as members of OPEC prepare to meet later this week and vote on production levels. Brent crude, the international standard, rose $2.18, or 3.6%, to $63.

Financial stocks were strong after a rise in interest rates boosted profit expectations for companies making loans and sitting on large investment portfolios. JPMorgan Chase rose 2%, and Regions Financial gained 1.6%.

Expedia Group climbed 6.2% after the company shook its leadership and expanded its stock buyback program.

In other commodities trading, wholesale gasoline rose 4 cents to $1.60 per gallon and heating oil climbed 4 cents to $1.92 per gallon.

Natural gas fell 4 cents to $2.40 per 1,000 cubic feet. Gold slid $4.20 to $1,474.00 per ounce and silver dropped 33 cents to $16.80 per ounce. Copper, which often moves with expectations for global economic strength, rose 3 cents to $2.64 per pound.

The dollar rose to 108.93 Japanese yen from 108.57 yen on Tuesday. The euro weakened to $1.1075 from $1.1082.

European stock indexes finished higher, while Asian markets sank.


----------



## bigdog

Wall Street capped a wobbly day of trading Thursday with slight gains for the major stock indexes as technology companies and banks outweighed declines elsewhere in the market.

The muted trading came as investors looked ahead to a key government report on jobs and kept an eye on developments in the negotiations to end the trade war between the U.S. and China.

Investors are hoping that the world’s two biggest economies will reach a trade deal before new U.S. tariffs go into effect Dec. 15 on some popular products made in China, including smartphones.

They’re also looking for more clarity on the health of the economy. They’ll get a better sense of that Friday, when the Labor Department issues its November tally of hiring by nonfarm employers.

“You’ve had some mixed economic data this week, so the market probably wants to wait and see what we get tomorrow morning,” said Willie Delwiche, investment strategist at Baird.

The S&P 500 index rose 4.67 points, or 0.2%, to 3,117.43. Even with the latest gain, the benchmark index is on track for a weekly loss, though it’s still up 24.4% for the year.

The Dow Jones Industrial Average gained 28.01 points, or 0.1%, to 27,677.79.

The Nasdaq added 4.03 points, less than 0.1%, to 8,570.70. The Russell 2000 index of smaller company stocks picked up 0.94 points, also less than 0.1%, to 1,614.83.

The S&P/ASX 200 index looks set to continue its push higher on Friday. According to the latest SPI futures, the ASX 200 index is expected to rise 9 points or 0.1% at the open.










https://apnews.com/6939ff224ee14338a8c7ff41daa1c55d

*Stocks end wobbly day with slight gains ahead of jobs report*
By ALEX VEIGA

Wall Street capped a wobbly day of trading Thursday with slight gains for the major stock indexes as technology companies and banks outweighed declines elsewhere in the market.

The muted trading came as investors looked ahead to a key government report on jobs and kept an eye on developments in the negotiations to end the trade war between the U.S. and China.

Investors are hoping that the world’s two biggest economies will reach a trade deal before new U.S. tariffs go into effect Dec. 15 on some popular products made in China, including smartphones.

They’re also looking for more clarity on the health of the economy. They’ll get a better sense of that Friday, when the Labor Department issues its November tally of hiring by nonfarm employers.

“You’ve had some mixed economic data this week, so the market probably wants to wait and see what we get tomorrow morning,” said Willie Delwiche, investment strategist at Baird.

The S&P 500 index rose 4.67 points, or 0.2%, to 3,117.43. Even with the latest gain, the benchmark index is on track for a weekly loss, though it’s still up 24.4% for the year.

The Dow Jones Industrial Average gained 28.01 points, or 0.1%, to 27,677.79.

The Nasdaq added 4.03 points, less than 0.1%, to 8,570.70. The Russell 2000 index of smaller company stocks picked up 0.94 points, also less than 0.1%, to 1,614.83.

Wall Street has been assessing disappointing economic data this week in the lead-up to Friday’s highly anticipated jobs report. Economists expect the unemployment rate to hold steady at 3.6%.

Data released on Wednesday showed that the U.S. services sector, which makes up the bulk of the economy, grew at a surprisingly slow pace. That does not bode well as a gauge for the economy while the manufacturing sector continues shrinking.

Payroll processer ADP reported Wednesday that private employers added far fewer jobs in November than economists expected. Job growth has been a strong part of the economy and the report raises doubts ahead of the Labor Department’s more comprehensive update.

U.S. stock indexes got off to an uneven start this week amid mixed signals on trade.

Stocks fell early in the week after President Donald Trump said he wouldn’t mind waiting for a trade deal beyond the 2020 elections. The indexes rebounded Wednesday on a report that Washington and Beijing could be on track for a trade deal before the new tariffs kick in next week.

Existing tariffs have been a key sticking point in negotiations and China has been calling for the U.S. to roll back some of them as part of the latest push for a deal.

“It’s kind of a standard playbook at this point: Stocks go up, the administration takes a slightly more aggressive tone; stocks go down, the administration takes a slightly more accommodating tone,” Delwiche said. “Trying to discern exactly what’s happening is anybody’s guess, but we do know a deal hasn’t been signed.”

Technology stocks were among the biggest gainers Thursday. Apple rose 1.5%. The sector has much to gain, or lose, in trade negotiations because many of the companies rely heavily on China for sales and supplies.

Rising bond yields helped steady banks. The sector relies on higher bond yields to charge more lucrative interest on loans. The yield on the 10-year Treasury rose to 1.80% from 1.78% late Wednesday.

Communication services stocks also rose. ViacomCBS led the sector, climbing 3.6%. It was the first day of trading for the newly combined company.

Energy stocks were the biggest losers. Cimarex Energy slid 1.8%.

Makers and sellers of household goods fell. Molson Coors Brewing dropped 1.5% and supermarket operator Kroger fell 3%.

Retailers also declined. L Brands fell 3.4%.

United Airlines slipped 0.4% after it said CEO Oscar Munoz is stepping down from his post and will become executive chairman. The airline said that President J. Scott Kirby will be its new CEO.

Munoz led the company through a choppy period, and in 2017 gave up his bonus after the forcible removal of a ticketed passenger led to widespread criticism.

Benchmark crude oil was unchanged at $58.43 a barrel. Brent crude oil, the international standard, rose 39 cents to close at $63.39 a barrel. Wholesale gasoline rose 2 cents to $1.62 per gallon. Heating oil climbed 1 cent to $1.93 per gallon. Natural gas rose 3 cents to $2.43 per 1,000 cubic feet.

Gold rose $2.90 to $1,476.90 per ounce, silver rose 14 cents to $16.94 per ounce and copper rose 1 cent to $2.65 per pound.

The dollar fell to 108.74 Japanese yen from 108.93 yen on Wednesday. The euro strengthened to $1.1099 from $1.1075.

Major stock indexes in Europe closed mostly lower.


----------



## bigdog

*A SEA OF GREEN TODAY*

A surprisingly strong U.S. jobs report put investors in a buying mood Friday, driving stocks on Wall Street broadly higher and extending the market’s winning streak to a third day.

The rally pushed the Dow Jones Industrial Average up by more than 300 points and erased the S&P 500's losses from earlier in the week, nudging the benchmark index to a second consecutive weekly gain.

Technology, financial and industrial stocks drove much of the gains. Utilities, a safe-play sector, were the only laggard. Bond yields rose.

The Labor Department said employers added 266,000 positions, well above estimates of 184,000. The report also showed unemployment falling to a 50-year low. Separately, an index that measures how consumers feel about the economy showed an increase from last month.

The encouraging reports offer reassurance for investors who may have been worried that consumers might be pulling back on spending, said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management.

The S&P 500 rose 28.48 points, or 0.9%, to 3,145.91. The index posted a 0.2% gain for the week, a solid pivot from losses of more than 1% as of late Thursday. It’s now within 0.3% of its all-time high set on Nov. 27 and up 25.5% so far this year.

The latest gains also helped stem some of the losses for the Dow and Nasdaq.

The Dow climbed 337.27 points, or 1.2%, to 28,015.06. The Nasdaq gained 85.83 points, or 1%, to 8,656.53. The Russell 2000 index of smaller company stocks picked up 19 points, or 1.2%, to 1,633.84.











*Chart DOW vs AORD



*


https://www.newser.com/article/0818...gain-as-jobs-growth-blows-past-forecasts.html
*
 S&P notches weekly gain as jobs growth blows past forecasts *
By ALEX VEIGA, Associated Press 

A surprisingly strong U.S. jobs report put investors in a buying mood Friday, driving stocks on Wall Street broadly higher and extending the market’s winning streak to a third day.

The rally pushed the Dow Jones Industrial Average up by more than 300 points and erased the S&P 500's losses from earlier in the week, nudging the benchmark index to a second consecutive weekly gain.

Technology, financial and industrial stocks drove much of the gains. Utilities, a safe-play sector, were the only laggard. Bond yields rose.

The Labor Department said employers added 266,000 positions, well above estimates of 184,000. The report also showed unemployment falling to a 50-year low. Separately, an index that measures how consumers feel about the economy showed an increase from last month.

The encouraging reports offer reassurance for investors who may have been worried that consumers might be pulling back on spending, said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management.

“Increasing jobs, people back to work, plus that jump in consumer confidence tells you that the consumer is still there, and probably will still spend money,” he said. “It's a better than we expected set of data, and clearly the market is pricing that in.”

The S&P 500 rose 28.48 points, or 0.9%, to 3,145.91. The index posted a 0.2% gain for the week, a solid pivot from losses of more than 1% as of late Thursday. It’s now within 0.3% of its all-time high set on Nov. 27 and up 25.5% so far this year.

The latest gains also helped stem some of the losses for the Dow and Nasdaq.

The Dow climbed 337.27 points, or 1.2%, to 28,015.06. The Nasdaq gained 85.83 points, or 1%, to 8,656.53. The Russell 2000 index of smaller company stocks picked up 19 points, or 1.2%, to 1,633.84.

Friday’s batch of encouraging economic data capped what started as a rough week for the market.

Increased trade tensions and disappointing economic reports -- including data showing manufacturing continues to shrink and growth in the service sector is slowing -- dragged the market to steep losses on Monday and Tuesday. The major indexes stayed in a slump through Thursday.

“All that took a bit of the surge out of the market,” Haworth said.

The latest employment report and consumer sentiment data are a welcome development as steady job growth has been one of the bright spots in the economy, along with solid consumer spending.

Investors also got some encouraging news on the U.S.-China trade front, with Beijing saying Friday that it is waiving punitive tariffs on U.S. soybeans and pork as negotiations for a trade deal continue.

Financial markets were rattled this week when President Donald Trump said he wouldn’t mind waiting until after the 2020 elections for a trade deal. Wall Street has been hoping enough progress can be made on a “phase 1” trade agreement to avert new tariffs on Chinese goods, such as laptops and cellphones, set to become effective on Dec. 15. China has been seeking relief from some tariffs as part of the negotiations.

“You're getting feel-good news going into the weekend,” Haworth said. “It doesn't mean, to my mind, that all the concerns are off the table. One of the risks we'll have in the coming week is you still haven't gotten the phase 1 deal.”

Gains by technology sector stocks helped drive the market rally Friday. Micron Technology rose 2.8%.

Banks also rose, as the solid jobs report sent bond yields higher, which lenders rely on to charge higher interest rates on mortgages and other loans. The yield on the 10-year Treasury rose to 1.84% from 1.79% late Thursday. JPMorgan Chase rose 1.5%.

Industrial stocks also notched solid gains. 3M rose 4.3%.

Uber fell 2.8% after a safety report revealed that more than 3,000 sexual assaults were reported during its U.S. rides in 2018. The report is part of the ride-hailing company’s effort to be more transparent after years of criticism over its safety record.

Benchmark crude oil rose 77 cents to settle at $59.20 a barrel. Brent crude oil, the international standard, gained $1 to close at $64.39 a barrel. Wholesale gasoline rose 3 cents to $1.65 per gallon. Heating oil climbed 2 cents to $1.95 per gallon. Natural gas fell 10 cents to $2.33 per 1,000 cubic feet.

Gold fell $17.80 to $1,459.10 per ounce, silver fell 46 cents to $16.48 per ounce and copper rose 6 cents to $2.71 per pound.

The dollar fell to 108.55 Japanese yen from 108.74 yen on Thursday. The euro weakened to $1.1056 from $1.1099.

Major stock indexes in Europe finished higher.

840


----------



## bigdog

Stocks closed modestly lower on Wall Street Monday as losses in technology, health care and financial companies outweighed gains elsewhere in the market.

The selling snapped a three-day winning streak for the S&P 500, cutting into its gain from last week.

Trading was mostly muted as investors looked ahead to a busy week of economic reports and an interest rate policy update from the Federal Reserve. The market also remained focused on developments in the trade negotiations between the U.S. and China.

Both sides have been working toward a limited “phase 1” deal that investors hope can at least avert new U.S. tariffs from kicking in on $160 billion of Chinese imports on Sunday. That would raise prices on key products, including cell phones and laptops, and threaten to affect consumers.

“With the deadline being Sunday, most people don’t think that new tariffs will be put in place, but they also don’t expect a phase 1 (deal) to be signed this week,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 index lost 9.95 points, or 0.3%, to 3,135.96. The Dow Jones Industrial Average fell 105.46 points, or 0.4%, to 27,909.60. The Nasdaq dropped 34.70 points, or 0.4%, to 8,621.83. The Russell 2000 index of smaller company stocks gave up 4.22 points, or 0.3%, to 1,629.62.

The S&P/ASX 200 index looks set to slide lower on Tuesday. According to the latest SPI futures, the ASX 200 is poised to edge 4 points lower at the open.










https://apnews.com/83425b4ffe4bf0a91bd9962c6bda20a9

*Stocks close broadly lower on Wall Street; trade in focus*
By ALEX VEIGA

Stocks closed modestly lower on Wall Street Monday as losses in technology, health care and financial companies outweighed gains elsewhere in the market.

The selling snapped a three-day winning streak for the S&P 500, cutting into its gain from last week.

Trading was mostly muted as investors looked ahead to a busy week of economic reports and an interest rate policy update from the Federal Reserve. The market also remained focused on developments in the trade negotiations between the U.S. and China.

Both sides have been working toward a limited “phase 1” deal that investors hope can at least avert new U.S. tariffs from kicking in on $160 billion of Chinese imports on Sunday. That would raise prices on key products, including cell phones and laptops, and threaten to affect consumers.

“With the deadline being Sunday, most people don’t think that new tariffs will be put in place, but they also don’t expect a phase 1 (deal) to be signed this week,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 index lost 9.95 points, or 0.3%, to 3,135.96. The Dow Jones Industrial Average fell 105.46 points, or 0.4%, to 27,909.60. The Nasdaq dropped 34.70 points, or 0.4%, to 8,621.83. The Russell 2000 index of smaller company stocks gave up 4.22 points, or 0.3%, to 1,629.62.

Major stock indexes in Europe also closed broadly lower.

Bond prices rose. The yield on the 10-year Treasury fell to 1.82% from 1.84% late Friday.

After strong gains in November, U.S. stock indexes have mostly pulled back this month ahead of the scheduled rollout of new U.S. tariffs on Chinese goods this weekend.

A Chinese official said Monday that the nation wants a prompt settlement, but gave no details on progress toward a potential deal. China made a conciliatory gesture last week when it said it would waive tariffs on American soybeans and pork.

Technology sector stocks, which have been particularly sensitive to developments on trade because many of the companies rely on China for sales and supply chains, helped drag the market lower Monday. Apple fell 1.4% and chipmaker Micron Technology slid 3.1%.

Industrial stocks also fell. United Airlines dropped 1.1% and General Electric dropped 1%. Abiomed led the slide in health care stocks, falling 4%. Banks fell as bond yields declined. Goldman Sachs dropped 1.2%.

Several retailers helped lift the consumer discretionary stocks sector. Home Depot gained 1.1% and rival Lowe’s rose 1.4%. Target also picked up 1.1%.

Traders also weighed several big health care sector deals.

Shares in ArQule more than doubled on news that Merck agreed to buy the small biotechnology company for $2.7 billion. ArQule is in the early stages of studying potential treatments for conditions including leukemia. Merck inched 0.1% higher.

Sanofi made a similar play, spending $2.5 billion for Synthorx, which is also in the earlier stages of testing cancer treatments. Sanofi fell 1.6% and Synthorx jumped more than threefold.

In other deal news, health insurer United HealthGroup said it is buying Diplomat Pharmacy to help bolster its pharmacy benefits unit, OptimRx. The deal is being made at a steep discount, which sent Diplomat’s stock plunging 32.7%. UnitedHealth dropped 0.9%.

PG&E vaulted 15.9% following late Friday’s news that the California utility has reached a tentative $13.5 billion settlement that resolves all major claims related to the deadly, devastating Northern California wildfires of 2017-2018. The blazes were blamed on PG&E’s outdated equipment and negligence. The deal, which still requires court approval, represents a key step in PG&E’s exit from Chapter 11 bankruptcy.

Wall Street is in for a busy week of economic reports culminating in a key update on whether Americans are still spending at a healthy pace.

Investors will get a revised report on worker productivity for the July-September quarter on Tuesday. Data released in November showed a decline for the first time since late 2015. On Wednesday the government will release its November report for consumer prices, which have been rising at a modest rate this year. A gauge on producer prices will be released on Thursday.

The Commerce Department’s report on retail sales coming up Friday is possibly the most important update this week. The economy has been propped up in part by solid spending and job growth.

Meanwhile, the Federal Reserve is scheduled to deliver its latest economic and interest rate policy update on Wednesday after a two-day meeting of its policymakers. The central bank is widely expected hold off on making any changes to interest rates.

“The market does not expect a rate cut in December, but is probably still holding out for one or two in 2020,” Stovall said. “We think the Fed is going to sit pat and not really do anything.”

The Fed cut interest rates three times this year in a bid to buttress economic growth. That nearly reversed four rate hikes in 2018. The Fed has signaled that it will hold off on any additional rate cuts while the economy remains healthy.

Benchmark crude oil fell 18 cents to settle at $59.02 a barrel. Brent crude oil, the international standard, dropped 14 cents to close at $64.25 a barrel. Wholesale gasoline was little changed at $1.65 per gallon. Heating oil slipped a penny to $1.94 per gallon. Natural gas fell 10 cents to $2.23 per 1,000 cubic feet.

Gold fell 20 cents to $1,464.90 per ounce, silver gained 5 cents to $16.53 per ounce and copper rose 3 cents to $2.75 per pound.

The dollar rose to 108.62 Japanese yen from 108.55 yen on Friday. The euro strengthened to $1.1064 from $1.1056.


----------



## bigdog

U.S. stocks edged lower on Tuesday ahead of a looming weekend deadline for trade talks between Washington and Beijing.

A new round of U.S. tariffs is scheduled to take effect on Chinese goods Sunday, the latest escalation in a trade dispute that has dragged on economies around the world. But media reports suggested the U.S. may delay the tariffs on phones, laptops and other popular products as the two sides negotiate a limited “Phase 1” deal.

The S&P 500 flipped repeatedly between small gains and losses throughout the day, and the market was nearly evenly split between losers and winners as markets await more certainty about what the rules of global trade will be. Losses for Comcast, Netflix and other communications companies weighed most heavily on the market, but gains for health care and energy stocks helped limit the damage.

The S&P 500 slipped 3.44 points, or 0.1%, to 3,132.52. It earlier swung between a gain of 0.2% and a loss of 0.3%.

The Dow Jones Industrial Average lost 27.88, or 0.1%, to 27,881.72, and the Nasdaq composite fell 5.64, or 0.1%, to 8,616.18. The Russell 2000 index of smaller stocks was an outlier and rose 2.10 points, or 0.1%, to 1,631.71.

The S&P/ASX 200 index is expected to edge higher on Wednesday morning. According to the latest SPI futures, the ASX 200 is poised to rise 4 points at the open.










https://apnews.com/3da7445c5994a9c18de21d122365707d

*US stocks dip ahead of looming weekend deadline on trade*
By STAN CHOE and DAMIAN J. TROISE

NEW YORK (AP) — U.S. stocks edged lower on Tuesday ahead of a looming weekend deadline for trade talks between Washington and Beijing.

A new round of U.S. tariffs is scheduled to take effect on Chinese goods Sunday, the latest escalation in a trade dispute that has dragged on economies around the world. But media reports suggested the U.S. may delay the tariffs on phones, laptops and other popular products as the two sides negotiate a limited “Phase 1” deal.

The S&P 500 flipped repeatedly between small gains and losses throughout the day, and the market was nearly evenly split between losers and winners as markets await more certainty about what the rules of global trade will be. Losses for Comcast, Netflix and other communications companies weighed most heavily on the market, but gains for health care and energy stocks helped limit the damage.

The S&P 500 slipped 3.44 points, or 0.1%, to 3,132.52. It earlier swung between a gain of 0.2% and a loss of 0.3%.

The Dow Jones Industrial Average lost 27.88, or 0.1%, to 27,881.72, and the Nasdaq composite fell 5.64, or 0.1%, to 8,616.18. The Russell 2000 index of smaller stocks was an outlier and rose 2.10 points, or 0.1%, to 1,631.71.

Sunday’s deadline isn’t the only big potential event for markets in the coming days. The Federal Reserve and European Central Bank will make decisions on interest rate policy this week. Big moves by both of them earlier this year helped send prices for stocks and bonds around the world surging. A report will also arrive Wednesday on inflation in the United States, which is key because tame inflation has allowed the Fed to keep interest rates low.

Investors are nearly unanimous that the Fed will vote Wednesday to keep interest rates steady.

The biggest wild card for stocks recently has been trade, though, and markets have been swinging on every iota of progress in talks between Washington and Beijing. The longstanding conflict has hurt manufacturing around the world and caused U.S. businesses to hold back on making investments. The saving grace for the economy has been a strong job market and consumer spending, and the economy grew at a 2.1% annual rate in the third quarter.

“The market does seem to be pricing in somewhat good news,” said Mike Dowdall, investment strategist at BMO Global Asset Management. “And by good news, I define that as tariffs not going into effect. But beyond that, it’s quite unclear.”

That long-term perspective in any potential deal is likely to be the most important thing for markets.

“The real issue is not the exact details or timing, but the durability,” said David Kelly, chief global strategist at JPMorgan Funds. “Multiple changes of direction on trade over the last few years means nobody can trust that what we’re headed for here is a durable peace, rather it is a fragile cease-fire.”

Elsewhere on the trade front, Democrats in the House of Representatives and the White House announced a revised deal with Mexico and Canada. The deal would replace the North American Free Trade Agreement and would offer more provisions for U.S. workers.

Bond trading was nearly as quiet as stock trading was. The yield on the 10-year Treasury held steady at 1.83%, the same as late Monday.

Overseas markets were mixed. In Asia, Japan’s Nikkei 225 index slipped 0.1%, South Korea’s Kospi gained 0.4% and the Hang Seng in Hong Kong slipped 0.2%. In Europe, France’s CAC 40 gained 0.2%, and the German DAX lost 0.3%. The FTSE 100 in London also slipped 0.3%.

Benchmark crude oil rose 22 cents to settle at $59.24 a barrel. Brent crude oil, the international standard, rose 9 cents to $64.34 a barrel. Wholesale gasoline was unchanged at $1.65 per gallon. Heating oil climbed 2 cents to $1.97 per gallon. Natural gas rose 3 cents to $2.26 per 1,000 cubic feet.

Gold rose $3.30 to $1,462.60 per ounce, silver rose 7 cents to $16.60 per ounce and copper rose 1 cent to $2.76 per pound.

The dollar rose to 108.73 Japanese yen from 108.62 yen on Monday. The euro strengthened to $1.1096 from $1.1064.


----------



## bigdog

Wall Street capped a wobbly day Wednesday with modest gains for stocks, snapping a two-day losing streak for the S&P 500.

The market shook off a mixed start after the Federal Reserve announced it is would be leaving interest rates unchanged this month and signaled that it expects to leave them alone in 2020.

The central bank had been expected to leave its benchmark interest rate unchanged this month after lowering it three times this year in a bid to shield the economy from slowing global growth and the fallout of U.S. trade conflicts.

Investor jitters over whether the U.S. and China will be able to avert a new escalation in their trade war has made for choppy trading this week, pulling major indexes lower.

Wall Street is hoping that both sides can avoid a new round of tariffs scheduled to kick in Sunday on Chinese goods that include phones, laptops and other popular products.

“We’re in a wait-and-see mode going into Friday to see if we have any more clarity on the trade tariffs that go into effect on Sunday,” said Keith Buchanan, portfolio manager at Globalt Investments. “The market is kind of sitting on its hands right now.”

The S&P 500 index gained 9.11 points, or 0.3%, to 3,141.63. The benchmark index is still on track for a slight weekly loss.

The Dow Jones Industrial Average bounced back after being slightly lower most of the day. It rose 29.58 points, or 0.1%, to 27,911.30. The Nasdaq added 37.87 points, or 0.4%, to 8,654.05.

The S&P/ASX 200 index looks set to sink lower on Thursday despite a solid night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to fall 0.45% or 30 points at the open.










https://apnews.com/d23c24982f6ae6da5ce222f89da1fa4f

*US stocks notch modest gains as Fed leaves rates unchanged*
By ALEX VEIGA

Wall Street capped a wobbly day Wednesday with modest gains for stocks, snapping a two-day losing streak for the S&P 500.

The market shook off a mixed start after the Federal Reserve announced it is would be leaving interest rates unchanged this month and signaled that it expects to leave them alone in 2020.

The central bank had been expected to leave its benchmark interest rate unchanged this month after lowering it three times this year in a bid to shield the economy from slowing global growth and the fallout of U.S. trade conflicts.

Investor jitters over whether the U.S. and China will be able to avert a new escalation in their trade war has made for choppy trading this week, pulling major indexes lower.

Wall Street is hoping that both sides can avoid a new round of tariffs scheduled to kick in Sunday on Chinese goods that include phones, laptops and other popular products.

“We’re in a wait-and-see mode going into Friday to see if we have any more clarity on the trade tariffs that go into effect on Sunday,” said Keith Buchanan, portfolio manager at Globalt Investments. “The market is kind of sitting on its hands right now.”

The S&P 500 index gained 9.11 points, or 0.3%, to 3,141.63. The benchmark index is still on track for a slight weekly loss.

The Dow Jones Industrial Average bounced back after being slightly lower most of the day. It rose 29.58 points, or 0.1%, to 27,911.30. The Nasdaq added 37.87 points, or 0.4%, to 8,654.05.

The Russell 2000 index of smaller company stocks edged up 0.21 points, or less than 0.1%, to 1,631.93.

Despite the wobbly week in the market, the major indexes on track for strong gains this year. The Nasdaq is leading the way, with a gain of 30.4%. The S&P 500 is now up 25.3% and the Dow is up nearly 20%.

The Fed’s decision to stay put on rates this month leaves its benchmark rate, which influences many consumer and business loans, in a low range of 1.5% to 1.75%.

In a sign of the Fed’s confidence about the economy, its latest policy statement dropped a phrase it had previously used that referred to “uncertainties” surrounding the economic outlook. That suggests that the Fed is less worried about the impact of the U.S.-China trade war or overseas developments, and that it views the U.S. economy as generally healthy.

Technology and industrial stocks led the gains Wednesday. Skyworks Solutions climbed 4.7% and United Rentals rose 2.1%.

Banks and real estate companies lagged the market. U.S. Bancorp slid 1.2% and mall owner Simon Property Group lost 2.4%.

The yield on the 10-year Treasury slipped to 1.79% from 1.83% late Tuesday.

Some companies made big moves after releasing earnings reports. Ollie’s Bargain Outlet surged 15% after reporting surprisingly good third-quarter profit and revenue. GameStop plunged 15.1% after issuing a surprising loss and cutting its profit forecast.

Home Depot dropped 1.8% after giving investors a weak sales forecast.

Shares in American Eagle Outfitters slumped 6.5% after the clothing chain reported third-quarter results that were largely in line with Wall Street’s expectations, but noted it saw softer demand for certain apparel categories.

Chevron fell skidded 1.4% after the energy company warned investors about a potential charge of up to $11 billion because of lower long-term prices for oil and natural gas. The huge fourth-quarter write-down underscores the challenge posed by rising production that has prevented energy prices from increasing sharply during a time of increasing global demand.

Benchmark crude oil fell 48 cents to settle at $58.76 a barrel. Brent crude oil, the international standard, dropped 62 cents to close at $63.72 a barrel. Wholesale gasoline fell 2 cents to $1.63 per gallon. Heating oil climbed 4 cents to $1.93 per gallon. Natural gas fell 2 cents to $2.24 per 1,000 cubic feet.

Gold rose $6.80 to $1,469.40 per ounce, silver rose 14 cents to $16.74 per ounce and copper fell 2 cents to $2.78 per pound.

The dollar fell to 108.51 Japanese yen from 108.73 yen on Tuesday. The euro strengthened to $1.1140 from $1.1096.

Stock indexes in Europe closed broadly higher.


----------



## bigdog

The S&P 500 and Nasdaq closed at all-time highs Thursday on renewed optimism that the U.S. and China are close to reaching a deal in their costly trade war.

Financial, technology and health care stocks powered much of the rally, which gave the S&P 500 its second straight gain and erased its losses from earlier in the week.

Bond yields surged and real estate companies, utilities stocks and household goods makers fell as investors shifted money away from safe-play investments.

The market has been quick to react to headlines and remarks out of the Trump administration about the 16-month trade war, and Thursday was no different.

Shares jumped in the early going after President Donald Trump said that the U.S. is getting close to a “big deal” with China. Traders were also encouraged by a Wall Street Journal report saying Washington has offered to slash existing tariffs and cancel new ones set to kick in on Sunday in exchange for more agricultural purchases and intellectual property protection.

“If we do see the tariffs removed, that's saying, ‘OK, China must be agreeing to things or we must be right there,'” said Ben Phillips, chief investment officer at EventShares. “That’s why the market is looking at tariffs as the bellwether to a trade deal.”

The S&P 500 climbed 26.94 points, or 0.9%, to 3,168.57. The index is up about 0.5% from its last all-time closing high on Nov. 27.

The Dow Jones Industrial Average rose 220.75, or 0.8%, to 28,132.05. The Nasdaq gained 63.27 points, or 0.7%, to 8,717.32. The index, which is heavily weighted with technology stocks, is now up about 0.1% its record set on Nov. 27.

The S&P/ASX 200 index looks set to end the week on a positive note following a strong night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to rise 23 points or 0.35% at the open.









https://www.usnews.com/news/busines...en-higher-as-central-banks-stand-pat-on-rates

*S&P 500, Nasdaq at Records as Hopes Build for a Trade Deal*
The S&P 500 and Nasdaq closed at all-time highs Thursday on optimism that the U.S. and China are close to reaching a deal to end their costly trade war.
By Associated Press, Wire Service Content Dec. 12, 2019, at 4:55 p.m.

By ALEX VEIGA, AP Business Writer

The S&P 500 and Nasdaq closed at all-time highs Thursday on renewed optimism that the U.S. and China are close to reaching a deal in their costly trade war.

Financial, technology and health care stocks powered much of the rally, which gave the S&P 500 its second straight gain and erased its losses from earlier in the week.

Bond yields surged and real estate companies, utilities stocks and household goods makers fell as investors shifted money away from safe-play investments.

The market has been quick to react to headlines and remarks out of the Trump administration about the 16-month trade war, and Thursday was no different.

Shares jumped in the early going after President Donald Trump said that the U.S. is getting close to a “big deal” with China. Traders were also encouraged by a Wall Street Journal report saying Washington has offered to slash existing tariffs and cancel new ones set to kick in on Sunday in exchange for more agricultural purchases and intellectual property protection.

“If we do see the tariffs removed, that's saying, ‘OK, China must be agreeing to things or we must be right there,'” said Ben Phillips, chief investment officer at EventShares. “That’s why the market is looking at tariffs as the bellwether to a trade deal.”

The S&P 500 climbed 26.94 points, or 0.9%, to 3,168.57. The index is up about 0.5% from its last all-time closing high on Nov. 27.

The Dow Jones Industrial Average rose 220.75, or 0.8%, to 28,132.05. The Nasdaq gained 63.27 points, or 0.7%, to 8,717.32. The index, which is heavily weighted with technology stocks, is now up about 0.1% its record set on Nov. 27.

The Russell 2000 index of smaller company stocks climbed 12.89 points, or 0.8%, to 1,644.81.

China’s Ministry of commerce said Thursday that its negotiators were in “close communication” with their American counterparts ahead of the new round of tariffs, but gave no indication whether the trade talks were making progress.

The planned weekend U.S. tariff expansion would extend punitive duties to almost everything the U.S. buys from China. Beijing has threatened to retaliate if the new tariffs go into effect.

Uncertainty over trade has been the biggest wildcard for stocks this year. The longstanding conflict has hurt manufacturing around the world and caused U.S. businesses to hold back on making investments. The saving grace for the economy has been a strong job market and consumer spending.

Speculation that the world’s two biggest economies could be close to reaching an interim “Phase 1” trade agreement spurred investors on Thursday to move money into technology, industrial and other stock sectors that tend to do well when the economy is growing.

“If we get a China trade deal, it’s probably going to catalyze another 12-plus months of growth in the U.S. and globally,” Phillips said.

Banks helped lead the gains as bond prices fell, sending yields higher. Bank of America rose 3.1%. Higher yields allow banks to charge more lucrative interest rates on mortgages and other loans. The yield on the 10-year Treasury jumped to 1.90% from 1.79% late Wednesday. That’s an unusually large increase and signals more confidence in economic growth.

Technology companies also made strong gains. The sector is one of the most sensitive to swings in trade because many of the companies rely on China for sales and supply chains. Cisco Systems climbed 3.1%.

Investors bid up shares in Delta Air Lines 2.9% after the most profitable U.S. carrier gave investors a surprisingly good profit and revenue forecast for 2020. The company said it expects sustained demand for air travel and stable prices for jet fuel.

Southwest Airlines gained 0.9% after it reached a deal with Boeing for compensation over the grounding of the 737 Max aircraft.

Traders hammered shares in Tailored Brands after the owner of Men's Wearhouse issued quarterly forecasts below what analysts were expecting. The stock skidded 11.1% and is down 68.4% so far this year.

While investors continue to wait for an official word on a possible U.S.-China trade deal, they’ll get a look at new economic data Friday. The Commerce Department is due to report its November snapshot of retail sales. Economists expect retail sales rose last month. The measure gives more insight into consumer spending, which has been among the brighter spots in the economy helping to push growth.

Benchmark crude oil rose 42 cents to settle at $59.18 a barrel. Brent crude oil, the international standard, gained 48 cents to close at $64.20 a barrel. Wholesale gasoline was unchanged at $1.63 per gallon. Heating oil climbed 2 cents to $1.95 per gallon. Natural gas rose 9 cents to $2.33 per 1,000 cubic feet.

Gold fell $2.70 to $1,466.70 per ounce, silver rose 11 cents to $16.85 per ounce and copper rose 1 cent to $2.79 per pound.

The dollar rose to 109.34 Japanese yen from 108.51 yen on Wednesday. The euro weakened to $1.1112 from $1.1140.

Major stock indexes in Europe closed broadly higher.


----------



## bigdog

Wall Street closed out a listless day Friday with tiny gains and more record highs for the S&P 500 and Nasdaq.

The U.S. and China revealed they have reached an initial deal in their long-running trade war. The “Phase 1” agreement means that the U.S. won't impose new tariffs on Chinese goods that had been set to kick in this weekend. Investors’ anxiety over the prospects of such an escalation in the trade war contributed to a sluggish start for the market this month.

President Donald Trump and China made separate statements confirming the agreement Friday. Media reports signaling that a deal was close spurred a rally a day earlier that sent the S&P 500 and the Nasdaq to record highs. That likely led to the muted reaction in the markets Friday.

“People obviously were excited about what they heard yesterday and now what you're seeing is a consolidation now that it's actually been confirmed,” said Lisa Erickson, head of the traditional investment group at U.S. Bank Wealth Management.

Technology companies, which rely heavily on China for sales as well as parts, led the gainers Friday, outweighing losses in banks, energy stocks and elsewhere. Bond prices rose, pulling yields lower.

The S&P 500 index added a mere 0.23 points, or less than 0.1%, to reach an all-time high of 3,168.80.

The Dow Jones Industrial Average inched up 3.33 points, or less than 0.1%, to 28,135.38.

The Nasdaq, which is heavily weighted with technology stocks, rose 17.56 points, or 0.2%, to 8,734.88.

The Russell 2000 index of smaller company stocks fell 6.84 points, or 0.4%, to 1,637.98.










*Chart DOW vs AORD*





https://www.newser.com/article/a0ed...eaction-to-long-awaited-china-trade-deal.html

*Markets have muted reaction to long-awaited China trade deal *
By ALEX VEIGA, Associated Press
10 minutes ago

Wall Street closed out a listless day Friday with tiny gains and more record highs for the S&P 500 and Nasdaq.

The U.S. and China revealed they have reached an initial deal in their long-running trade war. The “Phase 1” agreement means that the U.S. won't impose new tariffs on Chinese goods that had been set to kick in this weekend. Investors’ anxiety over the prospects of such an escalation in the trade war contributed to a sluggish start for the market this month.

President Donald Trump and China made separate statements confirming the agreement Friday. Media reports signaling that a deal was close spurred a rally a day earlier that sent the S&P 500 and the Nasdaq to record highs. That likely led to the muted reaction in the markets Friday.

“People obviously were excited about what they heard yesterday and now what you're seeing is a consolidation now that it's actually been confirmed,” said Lisa Erickson, head of the traditional investment group at U.S. Bank Wealth Management.

Technology companies, which rely heavily on China for sales as well as parts, led the gainers Friday, outweighing losses in banks, energy stocks and elsewhere. Bond prices rose, pulling yields lower.

The S&P 500 index added a mere 0.23 points, or less than 0.1%, to reach an all-time high of 3,168.80.

The Dow Jones Industrial Average inched up 3.33 points, or less than 0.1%, to 28,135.38.

The Nasdaq, which is heavily weighted with technology stocks, rose 17.56 points, or 0.2%, to 8,734.88.

The Russell 2000 index of smaller company stocks fell 6.84 points, or 0.4%, to 1,637.98.

Optimism over the possibility of a trade deal helped stocks rebound after a downbeat start to the week. The S&P 500 ended the week with its third straight weekly gain. With less than three weeks left in 2019, the benchmark index is up 26.4% for the year.

The stock indexes were little changed through most of Friday as investors weighed the implications of the trade deal.

The costly trade conflict and the threat it could escalate at any moment has been the biggest source of uncertainty for Wall Street this year. The dispute has also hurt manufacturing around the world and caused U.S. businesses to hold back on making investments. The saving grace for the economy has been a strong job market and consumer spending.

Word that Washington and Beijing were pursuing a limited deal helped allay some of those concerns this fall, which helped spur the market higher after a sharp pullback this summer. But investors grew anxious earlier this month as the Dec. 15 planned rollout of U.S. tariffs on $160 billion worth of Chinese imports neared.

In addition to canceling the new tariffs, the U.S. also agreed to reduce certain existing import taxes on about $112 billion in Chinese goods from 15% to 7.5%. In return, Trump said on Twitter, the Chinese have agreed to "massive” purchases of American farm and manufactured products as part of the initial deal.

It's unclear how much the partial trade deal removes the uncertainty over another escalation in the dispute, which has had more than a few swings since it started 17 months ago.

“We got something, but until we have a full-fledged deal it may be tough to get excited,” said JJ Kinahan, chief market strategist for TD Ameritrade.

The latest development in trade relations didn’t have much of an impact on the market because it is essentially just a tariff truce, according to Jamie Cox, managing partner for Harris Financial Group. The next phase of the agreement will have to tackle some of the larger issues to provide relief from existing tariffs.

“It’s going to be a bigger lift in large part because the president doesn’t really want to take the tariffs off,” Cox said. “That’s going to require much more give on the Chinese part than what is currently in the offer.”

Technology sector stocks were the biggest winners Friday. Adobe climbed 3.9% after its latest quarterly results topped Wall Street’s estimates.

Utilities, household goods makers and real estate stocks also notched gains.

Banks fell the most as bond yields, which are used to set the interest rates that lenders charge on mortgages and other consumer loans, fell. Wells Fargo slid 1.1%.

The yield on the 10-year Treasury dropped to 1.83% from 1.90% late Thursday.

The government said U.S. retail sales rose at a seasonally adjusted 0.2% rate in November. The modest pace fell short of analysts' forecasts for a pickup of 0.5% and suggests the holiday shopping season got off to a slow start. Shares in several department store chains fell. Macy's dropped 3.4%, while L Brands slid 4.2% and Nordstrom lost 3.3%.

Facebook fell 1.3% amid reports that the Federal Trade Commission could block the company from integrating its messaging apps. Facebook has been planning to integrate its messaging apps, including Messenger and What’sApp, since early 2019. Federal regulators are concerned that the plan could make it hard to break up the company should the FTC find that necessary.

British stocks and the British pound moved sharply higher a day after a resounding victory for the Conservative Party eased uncertainty over the nation’s upcoming exit from the European Union. The benchmark FTSE 100 rallied 1.1%. The British pound rose to $1.3339 from $1.3134. Other European markets also closed higher.

Benchmark crude oil rose 89 cents to settle at $60.07 a barrel. Brent crude oil, the international standard, increased $1.02 to close at $65.22 a barrel. Wholesale gasoline rose 3 cents to $1.66 per gallon. Heating oil climbed 4 cents to $1.99 per gallon. Natural gas fell 3 cents to $2.30 per 1,000 cubic feet.

Gold rose $8.90 to $1,475.60 per ounce, silver rose 6 cents to $16.91 per ounce and copper fell 1 cent to $2.78 per pound.

The dollar fell to 109.32 Japanese yen from 109.34 yen on Thursday. The euro strengthened to $1.1121 from $1.1112

104


----------



## bigdog

Stocks closed broadly higher on Wall Street Monday, extending the market’s gains from last week and sending the major indexes to record highs.

The S&P 500 and Nasdaq notched all-time highs for the third straight trading day. The Dow Jones Industrial Average bested its last record high set in late November.

Surprisingly strong economic reports out of China helped drive the rally. Growth in factory activity and retail sales in the world's second-largest economy both beat analysts’ expectations for last month.

The economic reports gave investors more reason for encouragement. The market got a big confidence boost late last week after the United States and China reached a long-awaited “Phase 1” trade deal. The trade pact removed some of the uncertainty that's hung over businesses and investors.

“What’s important about it is that we’re not witnessing an acceleration in the trade war,” said Quincy Krosby, chief market strategist at Prudential Financial. “Right now, what the market is looking at is the possibility that we go into 2020 and we actually see global growth beginning to emerge, even if it’s not immediate.”

The S&P 500 rose 22.65 points, or 0.7%, to 3,191.45. The benchmark index is on a four-day winning streak.

The Dow Jones Industrial Average gained 100.51 points, or 0.4%, to 28,235.89. The Nasdaq composite climbed 79.35 points, or 0.9%, to 8,814.23.

The Russell 2000 index of smaller company stocks picked up 11.96 points, or 0.7%, to 1,649.94.

The S&P/ASX 200 index looks set to continue its positive run on Tuesday. According to the latest SPI futures, the ASX 200 is poised to rise 0.3% or 21 points at the open.










https://www.newser.com/article/eade...-street-as-rally-stretches-to-fourth-day.html

*Stocks rise on Wall Street as rally stretches to fourth day *
By ALEX VEIGA and STAN CHOE, Associated Press

Stocks closed broadly higher on Wall Street Monday, extending the market’s gains from last week and sending the major indexes to record highs.

The S&P 500 and Nasdaq notched all-time highs for the third straight trading day. The Dow Jones Industrial Average bested its last record high set in late November.

Surprisingly strong economic reports out of China helped drive the rally. Growth in factory activity and retail sales in the world's second-largest economy both beat analysts’ expectations for last month.

The economic reports gave investors more reason for encouragement. The market got a big confidence boost late last week after the United States and China reached a long-awaited “Phase 1” trade deal. The trade pact removed some of the uncertainty that's hung over businesses and investors.

“What’s important about it is that we’re not witnessing an acceleration in the trade war,” said Quincy Krosby, chief market strategist at Prudential Financial. “Right now, what the market is looking at is the possibility that we go into 2020 and we actually see global growth beginning to emerge, even if it’s not immediate.”

The S&P 500 rose 22.65 points, or 0.7%, to 3,191.45. The benchmark index is on a four-day winning streak.

The Dow Jones Industrial Average gained 100.51 points, or 0.4%, to 28,235.89. The Nasdaq composite climbed 79.35 points, or 0.9%, to 8,814.23.

The Russell 2000 index of smaller company stocks picked up 11.96 points, or 0.7%, to 1,649.94.

European markets closed broadly higher. Asian markets were mixed.

Monday’s wave of buying was broad, with roughly 85% of the stocks in the S&P 500 rising. The benchmark index capped last week with its third straight weekly gain as optimism over the U.S.-China trade deal put investors in a buying mood.

With less than three weeks left in 2019, the benchmark index is up 27.3% for the year.

Wall Street’s latest gains followed a rally in global stocks as traders welcomed news that China’s industrial production rose 6.2% in November from a year earlier. Meanwhile, retail sales growth rose to a five-month high of 8% from October’s 7.2%.

“With some trade uncertainty removed last week, investors should start feeling more confident that China will be able to keep their economy growing at 6% or better in 2020,” said Edward Moya, economist with Oanda.

The U.S. and China agreed last week to cut tariffs on some of each others' goods and postpone other tariff threats, the first time the two countries have stepped back from the brink in their 17-month trade fight.

In return, China promised to ramp up its purchases of U.S. agricultural, energy and other goods and to stop forcing U.S. companies to turn over technology as a condition of doing business in that country.

The interim trade deal is one of a “trifecta of positive catalysts” that swept through the market last week and could help support it through the end of the year, Morgan Stanley strategists wrote in a research note. The others are a Federal Reserve that appears committed to keeping interest rates low and the potential for an orderly exit by the United Kingdom from the European Union following last week’s U.K. elections.

Technology stocks accounted for a big slice of the rally Monday. Micron Technology jumped 3.4% and Broadcom rose 2.4%. Tech stocks have had big swings in recent months with every hint of progress on the U.S.-China trade war because of how much business the companies do in China.

Health care stocks also notched solid gains. Centene climbed 4%.

Energy stocks were the market's best performers, rising 1.4%, after the price of oil added a bit to its gain last week and natural gas prices jumped. Oil and gas producer EOG Resources climbed 3.2%, while Marathon Petroleum rose 3.7%.

Benchmark U.S. crude rose 14 cents to $60.21 per barrel, close to its highest level in three months. Brent crude, the international standard, added 12 cents to $65.34 per barrel.

Treasury yields rallied. The 10-year yield rose to 1.88% from 1.82% late Friday.

Higher rates can mean bigger profits for banks making loans and more interest income for insurers, brokerages and other financial companies. Bank of America and Wells Fargo each rose 0.8%. Financial stocks in the S&P 500 overall gained 0.4%.

Stocks that pay big dividends lagged the market because higher interest payments for bonds can lure away income-seeking investors. Real-estate investment trusts rose 0.3% for the smallest gain among the 11 sectors that make up the S&P 500.

Boeing fell 4.3% on a report that the company may cut production of its troubled 737 Max airplane or even suspend it all together. The Wall Street Journal said the company could announce a decision Monday.

International Flavors and Fragrances slumped 10.4% for the biggest loss in the S&P 500 after it said it's merging with DuPont's Nutrition and Biosciences unit in a $26.2 billion deal.

In other commodities trading, wholesale gasoline was little changed at $1.66 per gallon. Heating oil rose 2 cents to $2 per gallon. Natural gas climbed 5 cents, or 2%, to $2.34 per 1,000 cubic feet.

Gold fell 60 cents to $1,475 per ounce, silver rose 11 cents to $17.02 per ounce and copper gained 4 cents to $2.82 per pound.

The dollar rose to 109.59 Japanese yen from 109.32 yen on Friday. The euro strengthened to $1.1147 from $1.1121.

___


----------



## bigdog

Wall Street extended its milestone-shattering run Tuesday with modest gains for stocks, nudging the major indexes to more record highs.

The S&P 500 had its fifth gain in a row. The benchmark index and the Nasdaq closed at new highs for the fourth straight day. The Dow Jones Industrial Average also closed at a record high, it’s second milestone this week.

Banks and companies that rely on consumer spending led the way higher, outweighing losses in technology and health care stocks. Treasury yields gave back some of their gains from a day earlier, while the price of crude oil continued its recent march higher.

Investors welcomed encouraging reports on U.S. home construction, industrial production and job openings, extending the market’s upward momentum. Stocks have been vaulting higher in recent days on optimism about an interim U.S.-China trade deal announced on Friday. A Federal Reserve meeting last week also spurred buying after investors saw signals from Chairman Jerome Powell that interest rates will stay low for a while.

“A lot of the strength that we’re seeing is just a continuation of the ‘Phase 1’ U.S.-China deal from last week and some potential clarity around Brexit,” said Jamie Lavin, global investment specialist at J.P. Morgan Private Bank. “But, really, this morning one of the things that’s kept us higher is we did see some stronger economic data.”

The S&P 500 rose 1.07 points, or less than 0.1%, to 3,192.52. With less than three weeks left in 2019, the index is up 27.4% for the year.

The Dow Jones Industrial Average gained 31.27 points, or 0.1%, to 28,267.16. The Nasdaq climbed 9.13 points or 0.1%, to 8,823.36. The Russell 2000 index of smaller company stocks picked up 7.63 points, or 0.5%, to 1,657.56.

The S&P/ASX 200 index looks set to return to form again on Wednesday. According to the latest SPI futures, the ASX 200 is poised to climb 0.35% or 24 points at the open.











https://www.toledoblade.com/busines...ugh-for-more-record-highs/stories/20191217145

*Slight gains on Wall Street are enough for more record highs *
*By ALEX VEIGA and STAN CHOE * Associated Press
December 17, 2019

Wall Street extended its milestone-shattering run Tuesday with modest gains for stocks, nudging the major indexes to more record highs.

The S&P 500 had its fifth gain in a row. The benchmark index and the Nasdaq closed at new highs for the fourth straight day. The Dow Jones Industrial Average also closed at a record high, it’s second milestone this week.

Banks and companies that rely on consumer spending led the way higher, outweighing losses in technology and health care stocks. Treasury yields gave back some of their gains from a day earlier, while the price of crude oil continued its recent march higher.

Investors welcomed encouraging reports on U.S. home construction, industrial production and job openings, extending the market’s upward momentum. Stocks have been vaulting higher in recent days on optimism about an interim U.S.-China trade deal announced on Friday. A Federal Reserve meeting last week also spurred buying after investors saw signals from Chairman Jerome Powell that interest rates will stay low for a while.

“A lot of the strength that we’re seeing is just a continuation of the ‘Phase 1’ U.S.-China deal from last week and some potential clarity around Brexit,” said Jamie Lavin, global investment specialist at J.P. Morgan Private Bank. “But, really, this morning one of the things that’s kept us higher is we did see some stronger economic data.”

The S&P 500 rose 1.07 points, or less than 0.1%, to 3,192.52. With less than three weeks left in 2019, the index is up 27.4% for the year.

The Dow Jones Industrial Average gained 31.27 points, or 0.1%, to 28,267.16. The Nasdaq climbed 9.13 points or 0.1%, to 8,823.36. The Russell 2000 index of smaller company stocks picked up 7.63 points, or 0.5%, to 1,657.56.

Bond prices rose. The yield on the 10-year Treasury fell to 1.88% from 1.89% late Monday.

The U.S. and China agreed last week to cut tariffs on some of each others’ goods and postpone other tariff threats. The interim trade deal has helped ease a key source of uncertainty for investors heading into next year.

The latest batch of economic data also helps buttress traders’ confidence in the health of the U.S. economy. In August, fears that the U.S. was headed for recession roiled markets.

The Fed said Tuesday that industrial production and manufacturing were stronger last month than economists expected, though they are weaker than a year ago. Industrial production rebounded to 1.1% growth in November from October, better than the 0.8% that the market was expecting. But it remains 0.8% below year-ago levels.

Housing data were also stronger than expected. Homebuilders broke ground on 3.2% more homes in November than October, well above the 1.2% growth that economists had projected. In addition, applications for building permits jumped to the highest level in 12 years.

Housing has been on the upswing for months following three interest-rate cuts by the Federal Reserve earlier in the year. The average rate on a 30-year fixed-rate mortgage is now almost a full percentage point below where it was a year ago.

“Now that (rates) are coming down, you’re seeing housing starts pick back up,” Lavin said.

Homebuilder shares were broadly lower following the report. KB Home fell 2%.

Banks notched the biggest gains Tuesday. Goldman Sachs Group rose 1.4% and Citigroup added 1.1%. Gains for Amazon, Target and other companies that depend on spending by consumers also helped to push the market higher, but drops for UnitedHealth, Boston Scientific and other health care stocks kept the market in check.

The technology sector, which has been the market’s strongest gainer this year, was the biggest loser Tuesday. Oracle slid 2.1% and Autodesk dropped 1.6%. Tech stocks have been prone to big swings with every hint of progress in the trade conflict between Washington and Beijing because of how much business the companies do in China.

However, Tuesday’s slide in tech stocks was probably due in part to investors cashing in on their big gains ahead of 2020, Lavin said.

“It’s been a strong year in equity markets and people are getting their portfolios ready for 2020, so it could be some profit-taking impact,” she said.

Netflix climbed 3.7% after the company reported breakdowns for its revenue and membership by region, which analysts said showed that Netflix has been increasing its prices steadily around the world.

Bed Bath & Beyond surged 11.2% after its new CEO shook up the company’s management by removing six senior executives, including its chief merchandising officer and chief legal officer. CEO Mark Tritton, who took over about two months ago, said it was the first in a number of steps Bed Bath & Beyond is taking to transform itself.

Worthington Industries jumped 8.8% after the metal manufacturer’s fiscal second-quarter results topped Wall Street’s forecasts.

Benchmark U.S. crude rose 73 cents, or 1.2%, to $60.94 per barrel. Brent crude, the international standard, gained 76 cents to $66.10 per barrel. Crude oil has been touching its highest price in three months.

Wholesale gasoline rose 3 cents to $1.69 per gallon. Heating oil climbed 3 cents to $2.03 per gallon. Natural gas fell 2 cents to $2.32 per 1,000 cubic feet.

Gold fell 40 cents to $1,474.60 per ounce, silver fell 4 cents to $16.98 per ounce and copper was unchanged at $2.82 per pound.

The dollar fell to 109.49 Japanese yen from 109.59 yen on Monday. The euro was unchanged at to $1.1147.

Major stock indexes in Europe finished lower.


----------



## bigdog

A last-minute burst of selling pulled the major U.S. stock indexes mostly lower Wednesday, ending the market’s five-day winning streak.

The S&P 500 index and Dow Jones Industrial Average finished with tiny losses that left them just below their all-time highs set a day earlier. The Nasdaq composite eked out a slight gain, giving it its fifth-straight record high.

Trading was listless most of the day in the absence of major new economic data and only a few corporate earnings reports for investors to mull over. Stocks have jumped recently on optimism around a “Phase 1” trade deal announced last week between the United States and China, among other factors. But after five straight days of gains, the S&P 500 had less fuel to push higher.

“The market doesn't seem like it's stretched, so it's not surprising that we're seeing it kind of slowly moving up higher,” said Veronica Willis, investment strategy analyst at Wells Fargo Investment Institute. “But I would not be surprised to see a little bit of profit-taking as we're getting these record highs.”

Losses in banks, industrial stocks, household goods makers and technology companies helped pull the market lower. They offset gains in real estate, communication services, health care and elsewhere in the market.

The S&P 500 fell 1.38 points, or less than 0.1%, to 3,191.14. The Dow dropped 27.88 points, or 0.1%, to 28,239.28. The Nasdaq composite rose 4.38 points, or 0.1%, to 8,827.73, a record.

Smaller-company stocks outperformed the rest of the market. The Russell 2000 index gained 4.17 points, or 0.3%, to 1,661.73.

The S&P/ASX 200 index is poised to drop lower on Thursday. According to the latest SPI futures, the ASX 200 is expected to fall 0.25% or 16 points at the open.










https://www.miamiherald.com/news/business/article238498078.html

*Modest rally for stocks is mostly gone by the closing bell *
By ALEX VEIGA and STAN CHOE AP Business Writers
December 18, 2019 05:16 PM

A last-minute burst of selling pulled the major U.S. stock indexes mostly lower Wednesday, ending the market’s five-day winning streak.

The S&P 500 index and Dow Jones Industrial Average finished with tiny losses that left them just below their all-time highs set a day earlier. The Nasdaq composite eked out a slight gain, giving it its fifth-straight record high.

Trading was listless most of the day in the absence of major new economic data and only a few corporate earnings reports for investors to mull over. Stocks have jumped recently on optimism around a “Phase 1” trade deal announced last week between the United States and China, among other factors. But after five straight days of gains, the S&P 500 had less fuel to push higher.

“The market doesn't seem like it's stretched, so it's not surprising that we're seeing it kind of slowly moving up higher,” said Veronica Willis, investment strategy analyst at Wells Fargo Investment Institute. “But I would not be surprised to see a little bit of profit-taking as we're getting these record highs.”

Losses in banks, industrial stocks, household goods makers and technology companies helped pull the market lower. They offset gains in real estate, communication services, health care and elsewhere in the market.

The S&P 500 fell 1.38 points, or less than 0.1%, to 3,191.14. The Dow dropped 27.88 points, or 0.1%, to 28,239.28. The Nasdaq composite rose 4.38 points, or 0.1%, to 8,827.73, a record.

Smaller-company stocks outperformed the rest of the market. The Russell 2000 index gained 4.17 points, or 0.3%, to 1,661.73.

More stocks rose than fell on the New York Stock Exchange.

Treasury yields rose slightly. The yield on the 10-year Treasury climbed to 1.92% from 1.89% late Tuesday.

Despite the last-minute dip, stocks are on track for strong gains this year. The benchmark S&P 500 is up 27.3%, while the Dow is up 21.1%. The Nasdaq, which is heavily weighted with technology stocks, is up 33%.

Stocks have been mostly hovering near their recent all-time highs this week. Investors have appeared content this week to hold on to their gains from a fall runup in the market. Traders have drawn encouragement from the U.S. and China’s steps to de-escalate their trade conflict, including reaching a limited deal on trade on Friday.

For now, at least, the pact has helped ease a key source of uncertainty for investors heading into next year.

Wednesday’s historic House of Representatives session to impeach President Donald Trump on charges of abuse of power and obstructing Congress didn’t appear to have any impact on the market.

“This is what the market already expected, that it would go to a vote in the House and once it eventually moves on to the Senate the president won't be removed from office,” Willis said. “There are no surprises on that front, which is why the market isn't reacting much to it.”

Investors like Trump’s approach of low taxes and less regulation for businesses, but they see his removal from office as unlikely because the Republican-controlled Senate would decide his fate following a House impeachment vote.

Traders had their eye on a mixed batch of corporate earnings reports Wednesday.

FedEx was the biggest loser in the S&P 500 after the package delivery giant cut its profit forecast for its fiscal year and reported weaker quarterly earnings than analysts expected. The company cited “weak global economic conditions” and higher expenses.

The stock slumped 10%. FedEx's woes also pulled shares in rival UPS lower. That stock gave up 1.9%.

General Mills added 1.9% after it reported stronger profit for the latest quarter than analysts expected. The company behind Haagen-Dazs ice cream and Yoplait yogurt said its sales were flat from a year ago, which was a touch weaker than analysts expected, but it made more in profit from each $1 in sales than Wall Street forecast.

Cigna climbed 2.4% after the company agreed to sell its group life and disability coverage business for $6.3 billion.

Cintas added 2% after it reported stronger earnings and revenue for the latest quarter than Wall Street expected. The company, which provides uniforms, restroom supplies and other products for businesses, also raised its profit forecast for the fiscal year.

Several department store chains also notched solid gains. Macy's rose 3.1%, L Brands climbed 3.3% and Nordstrom picked up 3%.

Benchmark crude oil fell 1 cent to settle at $60.93 a barrel, snapping a five-day winning streak. Brent crude oil, the international standard, rose 7 cents to close at $66.17 a barrel.

Wholesale gasoline fell 1 cent to $1.68 per gallon. Heating oil declined 1 cent to $2.02 per gallon. Natural gas fell 3 cents to $2.29 per 1,000 cubic feet.

Gold fell $2.00 to $1,472.60 per ounce, silver fell 3 cents to $16.95 per ounce and copper was unchanged at $2.82 per pound.

The dollar rose to 109.60 Japanese yen from 109.49 yen on Tuesday. The euro weakened to $1.1115 from $1.1147.

Major European markets closed mostly lower.


----------



## bigdog

Technology companies led stocks higher on Wall Street Thursday, extending the market’s gains for the week and pushing the major indexes to more record highs.

The broad gains erased the S&P 500’s slight losses from a day earlier. The benchmark index has notched gains six out of the past seven days.

A batch of encouraging earnings reports from several big companies helped keep investors in a buying mood. Rite Aid, Conagra Brands and Micron Technology rose after posting quarterly results that exceeded analysts’ forecasts.

Stock indexes were little changed for much of the day. Stocks, bonds, gold and a measure of fear among investors on Wall Street made only modest moves in the first day of trading after President Donald Trump’s impeachment by the House of Representatives.

“We’ve kind of known how this was going to play out for months,” said Scott Ladner, chief investment officer at Horizon Investments. “That just means that everybody has had an opinion, and whatever opinion that is it’s been priced into the market.”

The S&P 500 rose 14.23 points, or 0.4%, to 3,205.37. The Dow Jones Industrial Average gained 137.68 points, or 0.5%, to 28,376.96, a record.

The Nasdaq composite climbed 59.48 points, or 0.7%, to 8,887.22, a record. The Russell 2000 index of small-cap stocks picked up 5.36 points, or 0.3%, to 1,667.09.

The S&P/ASX 200 index looks set to finish the week on a disappointing note despite the solid gains were made on U.S. markets. According to the latest SPI futures, the ASX 200 is expected to fall 0.4% or 27 points at the open.










https://apnews.com/55fa094308fa2f08e8c26bfec64888c6

*US stocks move higher as markets yawn at Trump’s impeachment*
By ALEX VEIGA and STAN CHOE

Technology companies led stocks higher on Wall Street Thursday, extending the market’s gains for the week and pushing the major indexes to more record highs.

The broad gains erased the S&P 500’s slight losses from a day earlier. The benchmark index has notched gains six out of the past seven days.

A batch of encouraging earnings reports from several big companies helped keep investors in a buying mood. Rite Aid, Conagra Brands and Micron Technology rose after posting quarterly results that exceeded analysts’ forecasts.

Stock indexes were little changed for much of the day. Stocks, bonds, gold and a measure of fear among investors on Wall Street made only modest moves in the first day of trading after President Donald Trump’s impeachment by the House of Representatives.

“We’ve kind of known how this was going to play out for months,” said Scott Ladner, chief investment officer at Horizon Investments. “That just means that everybody has had an opinion, and whatever opinion that is it’s been priced into the market.”

The S&P 500 rose 14.23 points, or 0.4%, to 3,205.37. The Dow Jones Industrial Average gained 137.68 points, or 0.5%, to 28,376.96, a record.

The Nasdaq composite climbed 59.48 points, or 0.7%, to 8,887.22, a record. The Russell 2000 index of small-cap stocks picked up 5.36 points, or 0.3%, to 1,667.09.

More stocks rose on the New York Stock Exchange than fell.

Treasury yields slipped. The 10-year Treasury yield dipped to 1.91% from 1.92% late Wednesday. The two-year yield was unchanged at 1.62% and the 30-year yield rose to 2.36% from 2.35%.

The major stock indexes climbed to record highs late last week as investors welcomed news that the U.S. and China had taken steps to de-escalate their trade conflict. Stocks have mostly continued their record-breaking run this week, shrugging off the House’s impeachment of President Trump.

Trump became just the third U.S. president to be impeached after the House voted Wednesday on charges of abuse of power and obstructing Congress in an investigation.

The President had warned months ago that his impeachment would roil markets, but traders say it has virtually no impact. That’s mostly because they see it as extremely unlikely that he or his market-friendly policies will leave office before the end of his term.

Trump, who has often reveled on Twitter when stock prices are rising, warned in October that “The Impeachment Hoax is hurting our Stock Market.”

A gauge measuring how worried traders are about upcoming swings for the S&P 500 rose only 0.6%.

Technology and communication services stocks accounted for much of the gains Thursday. Utilities and energy companies were the only decliners.

Investors had their eye on earnings reports from several companies.

Conagra Brands surged 15.9% for the biggest gain in the S&P 500 after it reported stronger profit and revenue for the latest quarter than Wall Street forecast due in part to sales of frozen and snack foods.

Micron Technology rose 2.8% after it reported stronger profit for the latest quarter than analysts expected. Its CEO also said it expects this quarter to mark “the cyclical bottom for our financial performance.”

Apogee Enterprises slumped 20.4% after the glass products company reported quarterly earnings that fell far short of what investors were expecting.

Traders sent shares in TiVo 6.1% higher after the company scrapped plans to split up and instead will merge with Xperi, an entertainment technology company.

Reports on the U.S. economy were mixed. Fewer workers applied for jobless benefits last week than the prior week, but the number was higher than economists forecast.

A report by the Philadelphia Federal Reserve said that manufacturing activity was nearly flat in the region last month. The pace of sales of previously occupied homes also weakened last month, as more Americans get priced out of the rising housing market.

Benchmark crude oil rose 29 cents to settle at $61.22 a barrel. Brent crude oil, the international standard, gained 37 cents to close at $66.54 a barrel. Wholesale gasoline rose 3 cents to $1.71 per gallon. Heating oil climbed 1 cent to $2.03 per gallon. Natural gas fell 2 cents to $2.27 per 1,000 cubic feet.

Gold rose $5.60 to $1,478.20 per ounce, silver rose 11 cents to $17.06 per ounce and copper rose 1 cent to $2.83 per pound.

The dollar fell to 109.28 Japanese yen from 109.60 yen on Wednesday. The euro strengthened to $1.1123 from $1.1115.

European markets closed mostly higher.


----------



## bigdog

Wall Street capped a mostly quiet week of trading Friday with broad gains for stocks and more record highs for the major indexes.

Technology and health care stocks powered much of the rally. The S&P 500 notched its 10th winning week in the last 11. The benchmark index also finished with a record high for the fourth time this week. The Dow Jones Industrial Average and Nasdaq composite also ended the week at new highs.

Momentum for stocks has been clearly upward for months, and the market is heading into what’s historically been a seasonally good period.

Rising optimism around a “Phase 1” trade deal announced a week ago between the United States and China has helped push stock indexes to records. Fears about a possible recession have also faded since the summer after the Federal Reserve cut interest rates three times, and the central bank appears set to keep them low for a long time.

“It's just a benign continuation of the year-end rally based on no compelling reasons to scare people into selling,” said Tom Martin, senior portfolio manager with Globalt Investments. “You have not a lot of reasons to sell; maybe a few reasons to buy. So, it's just a very slow, low volume drift upward.”

The S&P 500 rose 15.85 points, or 0.5%, to 3,221.22. With less than two weeks left in 2019, the S&P 500 is up 28.5% for the year.

The Dow Jones Industrial Average climbed 78.13 points, or 0.3%, to 28,455.09. The Nasdaq composite added 37.74 points, or 0.4%, to 8,924.96. The Russell 2000 index of smaller company stocks picked up 4.81 points, or 0.3%., to 1,671.90.










*Chart DOW vs AORD*





https://www.usnews.com/news/busines...broadly-higher-on-wall-street-extending-gains

*S&P 500 Index Closes Out 10th Winning Week in the Past 11*
Major indexes closed broadly higher on Wall Street, giving the S&P 500 index its 10th winning week in the last 11.
By Associated Press, Wire Service Content Dec. 20, 2019, at 4:59 p.m

By ALEX VEIGA and STAN CHOE, AP Business Writers

Wall Street capped a mostly quiet week of trading Friday with broad gains for stocks and more record highs for the major indexes.

Technology and health care stocks powered much of the rally. The S&P 500 notched its 10th winning week in the last 11. The benchmark index also finished with a record high for the fourth time this week. The Dow Jones Industrial Average and Nasdaq composite also ended the week at new highs.

Momentum for stocks has been clearly upward for months, and the market is heading into what’s historically been a seasonally good period.

Rising optimism around a “Phase 1” trade deal announced a week ago between the United States and China has helped push stock indexes to records. Fears about a possible recession have also faded since the summer after the Federal Reserve cut interest rates three times, and the central bank appears set to keep them low for a long time.

“It's just a benign continuation of the year-end rally based on no compelling reasons to scare people into selling,” said Tom Martin, senior portfolio manager with Globalt Investments. “You have not a lot of reasons to sell; maybe a few reasons to buy. So, it's just a very slow, low volume drift upward.”

The S&P 500 rose 15.85 points, or 0.5%, to 3,221.22. With less than two weeks left in 2019, the S&P 500 is up 28.5% for the year.

The Dow Jones Industrial Average climbed 78.13 points, or 0.3%, to 28,455.09. The Nasdaq composite added 37.74 points, or 0.4%, to 8,924.96. The Russell 2000 index of smaller company stocks picked up 4.81 points, or 0.3%., to 1,671.90.

Roughly two stocks rose for every one that fell on the New York Stock Exchange.

The 10-year Treasury yield edged to 1.92% from 1.91% late Thursday. The two-year yield climbed to 1.62% from 1.60%. The 30-year yield held steady at 2.34%.

The U.S. and China agreed last week to cut tariffs on some of each others' goods and postpone other tariff threats. The interim trade deal has helped ease a key source of uncertainty for investors heading into next year.

Encouraging reports on home construction, industrial production and other economic data earlier this week helped keep the rally going.

More good news arrived Friday with a report showing U.S. households continue to spend amid a healthy job market. That is making up for hesitance by businesses to spend, and it's helping to keep the economy growing at a moderate pace.

“What we've had in the last several weeks is a lessening of uncertainty,” Martin said.

Spending by U.S. households has been the main pillar for the economy recently, even as CEOs turned cautious amid all the uncertainty created by President Donald Trump's trade wars.

Consumer spending rose 0.4% last month from October, the strongest growth in four months, according to the latest data from the Commerce Department. The increase in spending came as incomes rose 0.5% from a month earlier.

A separate report confirmed the economy grew at a moderate annual rate of 2.1% in the third quarter. Much of the growth from that July-through-September quarter came from stronger consumer spending.

Technology stocks accounted for a big slice of the market's gains. Intel rose 1.7%. Health care and industrial stocks also notched solid gains. Cigna climbed 3% and Union Pacific added 1.7%.

Carnival jumped 7.6% for the biggest gain in the S&P 500 after it reported stronger earnings for the latest quarter than analysts expected. The cruise ship operator also gave a profit forecast for the upcoming quarter that topped analysts’ forecasts.

CarMax dropped 6.2%, the largest loss in the S&P 500, after it reported weaker earnings for the latest quarter than analysts expected.

Stocks have traditionally climbed in the last five days of each calendar year, plus the first two of the new year. It’s happened often enough that traders call it the “Santa rally,” and it’s brought an average gain of 1.3% for the S&P 500 since 1969, according to the Stock Trader’s Almanac.

Over the last 50 years, stocks have climbed in the seven-day stretch roughly three-quarters of the time.

Benchmark crude oil fell 74 cents to settle at $60.44 a barrel. Brent crude oil, the international standard, slid 40 cents to close at $66.14 a barrel.

Wholesale gasoline was unchanged at $1.71 per gallon. Heating oil declined 1 cent to $2.02 per gallon. Natural gas rose 6 cents to $2.33 per 1,000 cubic feet.

Gold fell $3.50 to $1,474.70 per ounce, silver rose 7 cents to $17.13 per ounce and copper fell 2 cents to $2.81 per pound.

The dollar rose to 109.47 Japanese yen from 109.28 yen on Thursday. The euro weakened to $1.1075 from $1.1123.

European stock markets closed broadly higher.

382


----------



## bigdog

*The Australian share market will be closing earlier than normal at 2:10 pm Eastern Time this afternoon. It will then reopen again on Friday as normal

US markets are scheduled to open for only a half day on Tuesday and be closed Wednesday for Christmas.

Merry Xmas to all and best wishes, 
John*

Stocks closed modestly higher on Wall Street Monday, extending the major indexes’ milestone-shattering run.

The S&P 500 index notched its third-consecutive all-time high. The Dow Jones Industrial Average and Nasdaq composite also set record highs.

Technology, industrial and health care stocks led the gains. Energy companies rose along with the price of crude oil. Communication services stocks, household goods makers and banks fell. Utilities took the heaviest losses as investors shifted money away from more defensive sectors.

Shares of Boeing jumped after the company said its CEO has resigned, as the crisis related to its marquee 737 Max aircraft drags on. Apache Corp. soared after it announced a joint venture to develop an oil field in Suriname.

The market’s latest gains came on a day of mostly muted trading as investors kicked off a holiday shortened week. U.S. markets were scheduled to open for only a half day on Tuesday and then close Wednesday for Christmas.

The S&P 500 inched up 2.79 points, or 0.1%, to 3,224.01. The Dow gained 96.44 points, or 0.3%, to 28,551.53.

The Nasdaq climbed 20.69 points, or 0.2%, to 8,945.65. The index, which is heavily weighted with technology stocks, is on a nine-day winning streak.

The Russell 2000 index of smaller company stocks rose 2.24 points, or 0.1%, to 1,674.14.

The S&P/ASX 200 index looks set to extend its declines on Tuesday ahead of the Christmas break. According to the latest SPI futures, the ASX 200 is poised to fall 2 points at the open.










https://www.newser.com/article/1d01...ecords-after-quiet-pre-christmas-trading.html

*US stocks set more records after quiet pre-Christmas trading *
By ALEX VEIGA, Associated Press

Stocks closed modestly higher on Wall Street Monday, extending the major indexes’ milestone-shattering run.

The S&P 500 index notched its third-consecutive all-time high. The Dow Jones Industrial Average and Nasdaq composite also set record highs.

Technology, industrial and health care stocks led the gains. Energy companies rose along with the price of crude oil. Communication services stocks, household goods makers and banks fell. Utilities took the heaviest losses as investors shifted money away from more defensive sectors.

Shares of Boeing jumped after the company said its CEO has resigned, as the crisis related to its marquee 737 Max aircraft drags on. Apache Corp. soared after it announced a joint venture to develop an oil field in Suriname.

Homebuilders fell broadly after the Commerce Department said new home sales increased in November at a slower rate than analysts expected.

The market’s latest gains came on a day of mostly muted trading as investors kicked off a holiday shortened week. U.S. markets were scheduled to open for only a half day on Tuesday and then close Wednesday for Christmas.

“Right now, a lot of people have gone home for the year and the path of least resistance is higher,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute. “It's hard to see any kind of meaningful trend change between now and the end of the year.”

The S&P 500 inched up 2.79 points, or 0.1%, to 3,224.01. The Dow gained 96.44 points, or 0.3%, to 28,551.53.

The Nasdaq climbed 20.69 points, or 0.2%, to 8,945.65. The index, which is heavily weighted with technology stocks, is on a nine-day winning streak.

The Russell 2000 index of smaller company stocks rose 2.24 points, or 0.1%, to 1,674.14.

Bond prices fell. The 10-year Treasury yield rose to 1.93% from 1.91% late Friday.

Momentum for stocks has been clearly upward for months, driving the major stock indexes to record highs. The benchmark S&P 500 index has finished with a weekly gain in 10 out of the past 11 weeks.

Rising optimism around a “Phase 1” trade deal announced earlier this month between the United States and China has helped put investors in a buying mood. Fears about a possible recession have also faded since the summer after the Federal Reserve cut interest rates three times, and the central bank appears set to keep them low for a long time.

Meanwhile, the stock market is nearing what’s historically been a positive stretch for stocks. The last five trading days of each year, plus the first two in the new year, have brought an average gain of 1.3% since 1950, according to the Stock Trader's Almanac.

“Unfortunately, we've probably pulled forward some returns from 2020,” Samana said. “Next year it gets a little bit more tricky with elections probably becoming a bigger focus that will lead to some more volatility.”

Technology stocks continued to add to their blockbuster gains Monday. The sector, which is up 47.2% with less than two weeks to go in 2019, helped lift the market. Apple rose 1.6%.

Energy stocks notched the biggest gain, 1.1%. It is the worst-performing of the S&P 500’s 11 sectors and is up 7.8% for the year.

Traders hammered homebuilding stocks after the Commerce Department said sales of newly built homes increased 1.3% in November to a seasonally adjusted annual rate of 719,000 -- below the 730,000 rate analysts were expecting. New-home sales have increased 9.8% so far this year, thanks largely to a steady decline in mortgage rates.

“Housing was weak and that was probably a little bit due to rates slowly starting to creep back up,” Samana said.

Boeing rose 2.9% after the Chicago manufacturer said CEO Dennis Muilenburg is stepping down immediately over the company’s troubled Max 737 aircraft. The board's current chairman David Calhoun will officially take over on January 13.

The board said a change in leadership was necessary to restore confidence in the company as it works to repair relationships with regulators and stakeholders. The Max was grounded worldwide in March after two crashes by 737s, killing a combined 346 people.

Traders bid up shares in Apache Corp. 17.3% on news of the oil and natural gas producer’s new joint venture.

Walt Disney shares fell 1.5% after box office receipts for "Star Wars: The Rise of Skywalker" failed to match the opening weekend performance of its recent predecessors.

Benchmark U.S. crude oil reversed an early slide, rising 8 cents to settle at $60.52 per barrel. Brent crude, the international standard, added 25 cents to close at $66.39 per barrel.

Wholesale gasoline was unchanged at $1.71 per gallon. Heating oil was unchanged at $2.02 per gallon. Natural gas fell 12 cents to $2.21 per 1,000 cubic feet.

Gold rose $7.80 to $1,482.50 per ounce. Silver rose 27 cents to $17.40 per ounce and copper rose 2 cents to $2.82 per pound.

The dollar fell to 109.37 Japanese yen from 109.47 yen on Friday. The euro strengthened to $1.1093 from $1.1075.

Major stock indexes in Europe closed mostly higher.


----------



## bigdog

*U.S. markets are closed Wednesday and scheduled to reopen Thursday.*

*Our market will reopen on Friday as normal*

Major U.S. stock indexes ended nearly flat Tuesday after an abbreviated trading session ahead of Christmas Day.

The Nasdaq composite eked out a tiny gain, extending the index’s winning streak to 10 days and nudging it to a record high for the seventh day in a row. The S&P 500 and Dow Jones Industrial Average finished with tiny losses.

Industrial, health care and communication services stocks were the biggest losers Tuesday. Those losses outweighed gains in banks, technology stocks and elsewhere in the market.

Trading was lighter than usual during the half day that U.S. markets were open. They are closed on Wednesday for the holiday.

"It's normal to see profit-taking and we're seeing a little bit of that," said Quincy Krosby, chief market strategist at Prudential Financial. "And that's to be expected in a market that's moved fast, quickly and up only in one direction."

The S&P 500 slipped 0.63 points, or less than 0.1%, to 3,223.38. The drop snapped a three-day winning streak for the index, which hit an all-time high Monday.

The Dow Jones Industrial Average dropped 36.08 points, or 0.1%, to 28,515.45. The Nasdaq composite recovered from an early slide, gaining 7.24 points, or 0.1%, to 8,952.88.

The Russell 2000 index of smaller company stocks fared better than the rest of the market, adding 3.87 points, or 0.2%, to 1,678.01.










https://www.usnews.com/news/business/articles/2019-12-23/asian-stocks-mixed-in-quiet-holiday-trading

*US Stocks End Nearly Flat at Early Close for Christmas*
Major US stock indexes ended nearly flat Tuesday after an abbreviated trading session ahead of Christmas Day.
By Associated Press, Wire Service Content Dec. 24, 2019, at 1:59 p.m.

ALEX VEIGA, AP Business Writer

Major U.S. stock indexes ended nearly flat Tuesday after an abbreviated trading session ahead of Christmas Day.

The Nasdaq composite eked out a tiny gain, extending the index’s winning streak to 10 days and nudging it to a record high for the seventh day in a row. The S&P 500 and Dow Jones Industrial Average finished with tiny losses.

Industrial, health care and communication services stocks were the biggest losers Tuesday. Those losses outweighed gains in banks, technology stocks and elsewhere in the market.

Trading was lighter than usual during the half day that U.S. markets were open. They are closed on Wednesday for the holiday.

"It's normal to see profit-taking and we're seeing a little bit of that," said Quincy Krosby, chief market strategist at Prudential Financial. "And that's to be expected in a market that's moved fast, quickly and up only in one direction."

The S&P 500 slipped 0.63 points, or less than 0.1%, to 3,223.38. The drop snapped a three-day winning streak for the index, which hit an all-time high Monday.

The Dow Jones Industrial Average dropped 36.08 points, or 0.1%, to 28,515.45. The Nasdaq composite recovered from an early slide, gaining 7.24 points, or 0.1%, to 8,952.88.

The Russell 2000 index of smaller company stocks fared better than the rest of the market, adding 3.87 points, or 0.2%, to 1,678.01.

Bond prices rose. The 10-year Treasury yield slipped to 1.90% from 1.93% late Monday.

The market's modest slide follows a strong winning streak for stocks that has propelled the major indexes to record highs this month. The benchmark S&P 500 index has finished with a weekly gain in 10 out of the past 11 weeks.

Rising optimism around a “Phase 1” trade deal announced earlier this month between the United States and China helped put investors in a buying mood in recent weeks. Fears about a possible recession have also faded since the summer after the Federal Reserve cut interest rates three times, and the central bank appears set to keep them low for a long time.

Still, as traders turn their attention to 2020, fears about the outlook for the global economy remain, as do concerns over unresolved trade issues between Washington and Beijing. Next year also has the added complication of the U.S. presidential election.

Industrial stocks led the way lower Tuesday. Boeing fell 1.4%, giving up some of its day-earlier gains when the aerospace manufacturer said its CEO has resigned amid ongoing problems related to its troubled 737 Max aircraft.

Health care and communication services stocks also helped pull the indexes lower. Cigna fell 1.2% and Facebook dropped 0.5%.

Financial stocks, retailers and other companies that rely on consumer spending notched gains. Assurant rose 0.9% and Home Depot rose 0.7%, while Ross Stores added 0.8%.

Homebuilders bounced back with broad gains after falling the day before following a disappointing home sales report. Hovnanian Enterprises gained 3.2%.

Uber Technologies rose 0.4% on news that ex-CEO Travis Kalanick will resign from the board next week, effectively severing ties with the ride-hailing company he co-founded a decade ago.

Kalanick was ousted as CEO in the summer of 2017 with the company mired in numerous lawsuits. The departure did not come as a surprise. Kalanick recently sold more than $2.5 billion worth of shares in the company, more than 90% of his holdings.

Shares in mining company Freeport-McMoRan climbed 1.1% as the price of gold rose. Gold gained $16.10, or 1.1%, to $1,504.80 per ounce.

Benchmark U.S. crude oil gained 59 cents to $61.11 per barrel. Brent crude, the international standard, added 25 cents at $66.39 per barrel.

Stock markets in Europe were either closed or opened for limited hours Tuesday. Britain's FTSE 100 index closed 0.1% higher, while the CAC 40 in Paris ended flat. Both markets opened for only half the day, and will remain closed until Friday. Germany's DAX was closed Tuesday and won't reopen until Friday.

Major stock indexes in Asia finished mixed.

U.S. markets are scheduled to reopen Thursday.


----------



## bigdog

Retailers and technology companies powered stocks broadly higher on Wall Street Thursday, extending the market's record-setting run.

The Nasdaq composite climbed above 9,000 points for the first time as Apple led technology stocks higher. The Dow Jones Industrial Average and S&P 500 also climbed to new highs. The benchmark index is on course for its best year since 2013.

The latest gains came as investors welcomed a report showing that a last-minute surge in online shopping helped lift holiday sales. The data gave a boost to shares in Amazon.com and big department store chains such as Macy's and Nordstrom.

"That's just a confirmation that the consumer is incredibly strong and resilient and helping to power the economy to better numbers,” said Jeff Kravetz, regional investment director for U.S. Bank Wealth Management.

The S&P 500 rose 16.53 points, or 0.5%, to 3,239.91. The index, which had previously set a record high on Monday, has finished with a weekly gain in 10 out of the past 11 weeks.

The Dow gained 105.94 points, or 0.4%, to 28,621.39. The Nasdaq composite climbed 69.51 points, or 0.8%, to 9,022.39. The index, which is heavily weighted with tech stocks, is on an 11-day winning streak.

Markets in Europe, Hong Kong, New Zealand and Australia remained closed Thursday.

The Australian share market is expected to open flat despite gains on Wall Street overnight.  
The SPI200 futures contract was unchanged at 6,710.0 at 0800 AEDT, suggesting a steady start for the benchmark S&P/ASX200 on Friday.










https://www.newser.com/article/076e...e-at-record-highs-nasdaq-goes-above-9000.html

*US stocks close at record highs; Nasdaq goes above 9,000 *
By ALEX VEIGA, Associated Press
17 minutes ago

Retailers and technology companies powered stocks broadly higher on Wall Street Thursday, extending the market's record-setting run.

The Nasdaq composite climbed above 9,000 points for the first time as Apple led technology stocks higher. The Dow Jones Industrial Average and S&P 500 also climbed to new highs. The benchmark index is on course for its best year since 2013.

The latest gains came as investors welcomed a report showing that a last-minute surge in online shopping helped lift holiday sales. The data gave a boost to shares in Amazon.com and big department store chains such as Macy's and Nordstrom.

"That's just a confirmation that the consumer is incredibly strong and resilient and helping to power the economy to better numbers,” said Jeff Kravetz, regional investment director for U.S. Bank Wealth Management.

The S&P 500 rose 16.53 points, or 0.5%, to 3,239.91. The index, which had previously set a record high on Monday, has finished with a weekly gain in 10 out of the past 11 weeks.

The Dow gained 105.94 points, or 0.4%, to 28,621.39. The Nasdaq composite climbed 69.51 points, or 0.8%, to 9,022.39. The index, which is heavily weighted with tech stocks, is on an 11-day winning streak.

Smaller company stocks lagged the broader market, leaving the Russell 2000 index essentially flat. The index slipped 0.34 points, or less than 0.1%, to 1,677.67.

Bond prices were little changed. The 10-year Treasury yield held steady at 1.90%. The yield is a benchmark for the interest rates that lenders charge on mortgages and other consumer loans.

Trading volume was lighter than usual Thursday as U.S. markets reopened after the Christmas holiday.

The latest gains added to the market’s strong upward trajectory for 2019. The major indexes are on pace to close out the year on a strong note after moving mostly higher since early October. Fears about a possible recession have faded since the summer after the Federal Reserve cut interest rates three times, and the central bank appears set to keep them low for a long time.

A “Phase 1” trade deal announced earlier this month between the United States and China helped solidify investors’ optimism. The result has been a year-end market rally that has the 11 sectors in the S&P 500 on pace for solid-to-stellar gains.

Still, as traders turn their attention to 2020, fears about the outlook for the global economy remain, as do concerns over unresolved trade issues between Washington and Beijing. Next year also has the added complication of the U.S. presidential election.

“Trade will continue to be a factor that drives short-term market volatility,” Kravetz said. “But if you look at the other factors, the more fundamental economic factors — consumer and business sentiment — those are the ones which are really keeping investors in the game and more confident.”

The last five days of December and the first two in the new year have historically been a positive period for the market. Stocks have brought an average gain of 1.3% over that stretch since 1950, according to the Stock Trader's Almanac.

Technology stocks continued to lead the way Thursday. The sector, which is on pace for its best year since 2009, is up 48.3% so far this year, well above the other sectors in the S&P 500. Apple was the sector’s biggest gainer, climbing 2%.

Big retailers also rallied following a report from Mastercard SpendingPulse that shows holiday retail sales rose 3.4%, with online shopping rising 18.8%.

Amazon led the pack, climbing 4.5%, the biggest gainer in the S&P 500. Macy's rose 2.6%, Nordstrom added 1.8%, and Gap gained 1.6%

Health care stocks were the only decliners. Incyte fell 2.9%.

Other health sector stocks fared better. Immunomedics climbed 5.7% after the biopharmaceutical company said that the FDA accepted its application for accelerated approval of a breast-cancer therapy.

Benchmark U.S. crude gained 57 cents to settle at $61.68 per barrel. Brent crude oil, the international standard, picked up 72 cents to close at $67.92 per barrel.

The rise in oil prices helped lift some energy sector stocks. Diamondback Energy gained 1.3%.

Shares in mining companies rose along with the price of gold, which climbed $9.60 to $1,514.40 per ounce. Newmont Goldcorp added 1.2%, while Freeport-McMoRan gained 1.4%.

In other commodities trading, wholesale gasoline rose 3 cents to $1.75 per gallon. Heating oil climbed 2 cents to $2.05 per gallon. Natural gas jumped 12 cents, or 5.6%, to $2.29 per 1,000 cubic feet.

Silver rose 14 cents to $17.99 per ounce. Copper gained 2 cents to $2.85 per pound.

The dollar fell to 109.65 Japanese yen from 109.78 yen on Wednesday. The euro weakened to $1.1102 from $1.1314.

Markets in Europe, Hong Kong and Australia remained closed Thursday. Elsewhere in Asia, Japan's Nikkei 225 index advanced 0.6% to 23,924.92, while the Kospi in South Korea gained 0.4% to 2,197.93. India's Sensex lost 0.3% to 41,339.87. In Southeast Asia, benchmarks were mixed, while Taiwan was flat.


----------



## bigdog

Major U.S. stock indexes ended essentially flat Friday after a day of mostly listless trading. Even so, the S&P 500 closed out the week with its fifth straight weekly gain.

The benchmark index squeaked out a tiny gain that was good enough for its 35th record high this year. The Dow Jones Industrial Average also notched a slight gain, giving it its 22nd all-time high of 2019. The Nasdaq composite closed with a modest loss, snapping the index’s 11-day winning streak.

Investors drove up shares of stocks in defensive sectors, including household goods makers, real estate companies and utilities. Those gains were checked by losses in energy, financial and communication services stocks. Bond yields fell.

With two days of trading left in 2019, the market is on track for its best year since 2013.

“Some of the selling today is just profit-taking,” said Ben Phillips, chief investment officer at EventShares. “People are just maybe checking out for the rest of the year and taking some profits on positions because there are a lot of things that are up meaningfully.”

The S&P 500 inched up 0.11 points, or less than 0.1%, to 3,240.02. The index has finished with a weekly gain 11 out of the past 12 weeks.

The Dow rose 23.87 points, or 0.1%, to 28,645.26. The Nasdaq composite slipped 15.77 points, or 0.2%, to 9,006.62.

Smaller company stocks took the brunt of the selling. The Russell 2000 index fell 8.64 points, or 0.5%, to 1,669.03. More stocks declined than rose on the New York Stock Exchange.










*Chart DOW vs AORD



*


https://www.usnews.com/news/us/arti...k-indexes-off-to-mixed-start-in-early-trading

*US Stocks Nearly Flat; S&P 500 Notches 5th Weekly Gain*
Major U.S. stock indexes ended essentially flat Friday after a day of mostly listless trading.
By Associated Press, Wire Service Content Dec. 27, 2019, at 5:08 p.m.

ALEX VEIGA, AP Business Writer

Major U.S. stock indexes ended essentially flat Friday after a day of mostly listless trading. Even so, the S&P 500 closed out the week with its fifth straight weekly gain.

The benchmark index squeaked out a tiny gain that was good enough for its 35th record high this year. The Dow Jones Industrial Average also notched a slight gain, giving it its 22nd all-time high of 2019. The Nasdaq composite closed with a modest loss, snapping the index’s 11-day winning streak.

Investors drove up shares of stocks in defensive sectors, including household goods makers, real estate companies and utilities. Those gains were checked by losses in energy, financial and communication services stocks. Bond yields fell.

With two days of trading left in 2019, the market is on track for its best year since 2013.

“Some of the selling today is just profit-taking,” said Ben Phillips, chief investment officer at EventShares. “People are just maybe checking out for the rest of the year and taking some profits on positions because there are a lot of things that are up meaningfully.”

The S&P 500 inched up 0.11 points, or less than 0.1%, to 3,240.02. The index has finished with a weekly gain 11 out of the past 12 weeks.

The Dow rose 23.87 points, or 0.1%, to 28,645.26. The Nasdaq composite slipped 15.77 points, or 0.2%, to 9,006.62.

Smaller company stocks took the brunt of the selling. The Russell 2000 index fell 8.64 points, or 0.5%, to 1,669.03. More stocks declined than rose on the New York Stock Exchange.

Bond prices rose. The 10-year Treasury yield fell to 1.87% from 1.90% late Thursday.

A truce in the 17-month U.S.-China trade war and positive signs for the economy have helped keep investors in a buying mood. Fears about a possible recession have also faded since the summer after the Federal Reserve cut interest rates three times and signaled that it will keep them low for a long time.

Still, as the market prepares to close out a strong year of gains next week, uncertainty remains over the final details of the “Phase 1” trade deal and whether Washington and Beijing will be able to resolve remaining differences not addressed by the initial pact. The U.S. presidential election could also drive volatility in the markets next year.

"If the trade deal really gets done, that's improvement in sentiment, which drives markets and CEO confidence, and then you still have very easy money out there and the Fed doesn't plan on changing that," Phillips said. "All those things combined suggest that equities should rise in the next 12 months, though maybe not as strong as 2019."

Trading volume remained lighter than usual Friday. General Mills was among the biggest gainers in the S&P 500 as traders shifted assets into traditionally defensive sector stocks. The consumer foods company rose 1.5%.

Investors also favored real estate and utilities stocks. Kimco Realty gained 1.5% and American Water Works rose 0.9%.

Several airlines fell. American Airlines Group was the biggest decliner in the S&P 500, shedding 4.2%. Southwest Airlines and Alaska Air Group lost 1.1%.

Devon Energy led a slide in energy sector stocks, shedding 2.4%.

Investors bid up shares in Michaels Cos. after the arts and crafts retailer hired an executive from Walmart to be CEO. The stock vaulted 32.9%.

Oil prices rebounded from an early stumble. Benchmark U.S. crude rose 1 cent to settle at $61.72 per barrel. Brent crude, used to price international oils, gained 24 cents to close at $68.16 per barrel.

In other commodities trading, wholesale gasoline fell 1 cent to $1.74 per gallon. Heating oil was little changed at $2.05 per gallon. Natural gas slid 14 cents, or 5.9%, to $2.16 per 1,000 cubic feet.

The price of gold rose $3.70 to $1,518.10 per ounce. Silver fell 5 cents to $17.94 per ounce. Copper dropped 2 cents to $2.83 per pound.

The dollar fell to 109.40 Japanese yen from 109.65 yen on Thursday. The euro strengthened to $1.1186 from $1.1102.

European markets closed mostly higher. Earlier in Asia, Hong Kong finished with gains and Tokyo declined.

687


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## bigdog

Stocks closed broadly lower on Wall Street Monday, erasing some of the major indexes’ recent gains, though the market remains on track to end the year with its best performance since 2013.

The pullback ended a two-day winning streak by the S&P 500. The benchmark index has risen five straight weeks, notching multiple all-time highs along the way. It’s on track to end December with its fourth consecutive monthly gain.

Technology, communication services and health care stocks accounted for much of the selling Monday. Retailers and other companies that rely on consumer spending also fell.

Homebuilders fell after a report on pending U.S. home sales in November came in below analysts' expectations. Shares in utilities and real estate sector companies fared the best, ending with only tiny losses, as investors shifted assets to high-dividend stocks and other bond proxies.

“There could be a few big institutions out there that are taking some profits,” said Randy Frederick, vice-president of trading & derivatives at Charles Schwab. “Big players can have a bigger influence on the market when the volumes are low.”

The S&P 500 dropped 18.73 points, or 0.6%, to 3,221.29. The Dow Jones Industrial Average fell 183.12 points, or 0.6%, to 28,462.14. The Nasdaq composite lost 60.62 points, or 0.7%, to 8,945.99.

The Russell 2000 index of smaller company stocks slid 4.88 points, or 0.3%, to 1,664.15.

The S&P/ASX 200 index looks set to end the year with a day deep in the red. According to the latest SPI futures, the ASX 200 is poised to fall 0.9% or 61 points at the open.










https://ca.finance.yahoo.com/news/stocks-open-lower-beginning-holiday-144449368.html

*US stocks move broadly lower to start holiday-shortened week*



The Canadian Press
Alex Veiga, The Associated Press

Stocks closed broadly lower on Wall Street Monday, erasing some of the major indexes’ recent gains, though the market remains on track to end the year with its best performance since 2013.

The pullback ended a two-day winning streak by the S&P 500. The benchmark index has risen five straight weeks, notching multiple all-time highs along the way. It’s on track to end December with its fourth consecutive monthly gain.

Technology, communication services and health care stocks accounted for much of the selling Monday. Retailers and other companies that rely on consumer spending also fell.

Homebuilders fell after a report on pending U.S. home sales in November came in below analysts' expectations. Shares in utilities and real estate sector companies fared the best, ending with only tiny losses, as investors shifted assets to high-dividend stocks and other bond proxies.

“There could be a few big institutions out there that are taking some profits,” said Randy Frederick, vice-president of trading & derivatives at Charles Schwab. “Big players can have a bigger influence on the market when the volumes are low.”

The S&P 500 dropped 18.73 points, or 0.6%, to 3,221.29. The Dow Jones Industrial Average fell 183.12 points, or 0.6%, to 28,462.14. The Nasdaq composite lost 60.62 points, or 0.7%, to 8,945.99.

The Russell 2000 index of smaller company stocks slid 4.88 points, or 0.3%, to 1,664.15.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.89% from 1.87% late Friday.

Despite the downbeat start to the holiday shortened week, the S&P 500 is on pace to finish the year 28.5% higher, which would make it the strongest annual gain for the market since 2013.

A truce in the 17-month U.S.-China trade war and positive signs for the economy have helped keep investors in a buying mood. Fears about a possible recession have also faded since the summer after the Federal Reserve cut interest rates three times. The central bank appears set to keep them low for the near future.

Still, as the market prepares to close out a strong year of gains, uncertainty remains over the final details of a “Phase 1” trade deal between Washington and Beijing, which U.S. officials say will be signed in early January. Details of the agreement have not been disclosed, and it's unclear how much impact it will have if the two sides are unable to resolve their remaining differences.

Hovnanian Enterprises led the slide in homebuilder shares Monday, falling 2.5%. The National Association of Realtors said that its pending home sales index, which measures the number of purchase contracts signed, rose 1.2% last month to 108.5. Analysts had expected a 1.4% gain, according to FactSet.

Axsome Therapeutics rose 1.8% after the pharmaceutical company reported encouraging results from a trial of its migraine treatment drug.

Lending Tree climbed 3% after analysts at Compass Point upgraded the online loan marketplace operator to “buy.”

Trading is expected to be muted this week as the holiday season continues with U.S. markets closing on Wednesday for New Year’s Day. Still, a couple of potentially market-moving economic reports are scheduled to for release this week.

Investors will get to mull over new data on U.S. consumer confidence and home prices Tuesday, and the latest snapshot of manufacturing on Friday. Meanwhile, the minutes of the Federal Reserve’s latest interest rate policy meeting are also due out on Friday.

Frederick said the latest data on manufacturing is probably the one that investors should pay attention to the most.

“While (manufacturing) only represents about 12% of the economy, it tends to be much more of a leading indicator versus the services sector,” he said. “And it’s been one of the things that’s been causing those out there who think we still might be seeing a recession at some point soon to worry.”

Coming off a four-week winning streak, benchmark U.S. crude slipped 4 cents to $61.68 per barrel. Brent crude, the international standard, gained 28 cents to $68.44 per barrel.

In other commodities trading, wholesale gasoline fell 2 cents to $1.73 per gallon. Heating oil slipped a penny to $2.04 per gallon. Natural gas dropped 5 cents, or 2%, to $2.19 per 1,000 cubic feet.

The price of gold inched up 20 cents to $1,514.50 per ounce. Silver gained 6 cents to $17.91 per ounce. Copper was little changed at $2.83 per pound.

The dollar fell to 108.83 Japanese yen from 109.40 yen on Friday. The euro strengthened to $1.1202 from $1.1186.

European stock indexes closed broadly lower. Germany's DAX fell 0.7%, while the CAC 40 in Paris slid 0.9%. In Britain, the FTSE 100 dropped 0.8%.

Major markets in Asia closed mostly lower.


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## bigdog

Major U.S. stock indexes edged mostly lower Tuesday afternoon in light trading ahead of the New Year's Day holiday. Wall Street was closing the books on a blockbuster 2019, with the broader market on track for its best performance in six years.

Industrial companies, household goods makers and health care stocks led the selling, outweighing gains in real estate, materials and energy companies. Bond prices fell, sending yields higher. Gold rose and crude oil fell.

The S&P 500 is on pace to finish the year up 28.5%, its biggest annual gain since 2013. The benchmark index has risen for five straight weeks, hitting a number of all-time highs along the way. It's on track to close out December with its fourth consecutive monthly gain.

The market's trajectory to a strong finish for the year began in October as stocks emerged from a late-summer slump caused by fears that the U.S. economy could be headed for a recession. Those concerns eased as investors drew encouragement from surprisingly good third-quarter corporate earnings, a third interest rate cut by the Federal Reserve and other data showing the economy was not slowing as much as economists had feared.

A truce in the 17-month U.S.-China trade war helped keep investors in a buying mood through the end of the year. Washington and Beijing announced in December they reached an agreement over a “Phase 1” trade deal that calls for the U.S. to reduce tariffs and China to buy larger quantities of U.S. farm products.

On Tuesday, President Donald Trump tweeted that he will sign the initial trade deal with China at the White House next month. He also said he plans to travel to Beijing at a later date to open talks on other sticking points in the U.S.-China trade relationship that remain to be worked out, including Chinese practices the U.S. complains unfairly favor its own companies.

KEEPING SCORE: The S&P 500 was down less than 0.1% as of 2:38 p.m. Eastern time. The Dow Jones Industrial Average slipped 32 points, or 0.1%, to 28,429. The index is up 21.9% this year.

The Nasdaq composite rose 0.1%. The index, which is heavily weighted with technology stocks, is on pace for a full-year gain of 35%.

MILESTONES APLENTY: The S&P 500 has set record highs 35 times this year, up from 19 last year. The benchmark index closed above 3,000 points for the first time in September.

The Dow, which climbed above the 28,000 mark for the first time in November, has set 22 record highs this year, eclipsing the 15 it set in 2018.

The Nasdaq, which closed above 9,000 for the first time in late December, has marked 31 new highs this year, beating last year's 16 times.

TECH’S BIG YEAR: Technology stocks have helped power the broader market’s gains this year. Tech is on track to finish 2019 with a gain of about 47.5%, well ahead of the other 10 sectors in the S&P 500.











https://www.usnews.com/news/busines...en-lower-as-a-record-breaking-year-winds-down

*US Stock Indexes Waver on Last Day of a Record-Breaking Year*
Major U.S. stock indexes are edging mostly lower Tuesday afternoon in light trading ahead of the New Year's Day holiday.
By Associated Press, Wire Service Content Dec. 31, 2019, at 2:45 p.m. 

ALEX VEIGA, AP Business Writer

Major U.S. stock indexes edged mostly lower Tuesday afternoon in light trading ahead of the New Year's Day holiday. Wall Street was closing the books on a blockbuster 2019, with the broader market on track for its best performance in six years.

Industrial companies, household goods makers and health care stocks led the selling, outweighing gains in real estate, materials and energy companies. Bond prices fell, sending yields higher. Gold rose and crude oil fell.

The S&P 500 is on pace to finish the year up 28.5%, its biggest annual gain since 2013. The benchmark index has risen for five straight weeks, hitting a number of all-time highs along the way. It's on track to close out December with its fourth consecutive monthly gain.

The market's trajectory to a strong finish for the year began in October as stocks emerged from a late-summer slump caused by fears that the U.S. economy could be headed for a recession. Those concerns eased as investors drew encouragement from surprisingly good third-quarter corporate earnings, a third interest rate cut by the Federal Reserve and other data showing the economy was not slowing as much as economists had feared.

A truce in the 17-month U.S.-China trade war helped keep investors in a buying mood through the end of the year. Washington and Beijing announced in December they reached an agreement over a “Phase 1” trade deal that calls for the U.S. to reduce tariffs and China to buy larger quantities of U.S. farm products.

On Tuesday, President Donald Trump tweeted that he will sign the initial trade deal with China at the White House next month. He also said he plans to travel to Beijing at a later date to open talks on other sticking points in the U.S.-China trade relationship that remain to be worked out, including Chinese practices the U.S. complains unfairly favor its own companies.

KEEPING SCORE: The S&P 500 was down less than 0.1% as of 2:38 p.m. Eastern time. The Dow Jones Industrial Average slipped 32 points, or 0.1%, to 28,429. The index is up 21.9% this year.

The Nasdaq composite rose 0.1%. The index, which is heavily weighted with technology stocks, is on pace for a full-year gain of 35%.

Smaller company stocks fared better than the rest of the market, sending the Russell 2000 index 0.5% higher. The Russell is on pace to end the year with a 24% gain.

U.S. markets are open for a full trading day before the New Year's Day holiday on Wednesday. They re-open Thursday.

GOING TO COURT? Shares in McDermott International slumped 12.2% after The Wall Street Journal reported that the engineering company is considering filing for bankruptcy.

CALL THE DOCTOR: Health care sector stocks accounted for a big slice of the selling Tuesday, with shares in several health insurers moving lower. Anthem slid 1.5% Humana dropped 0.6%.

BOND YIELDS: Bond prices fell. The yield on the 10-year Treasury note rose to 1.92% from 1.89% late Thursday.

MILESTONES APLENTY: The S&P 500 has set record highs 35 times this year, up from 19 last year. The benchmark index closed above 3,000 points for the first time in September.

The Dow, which climbed above the 28,000 mark for the first time in November, has set 22 record highs this year, eclipsing the 15 it set in 2018.

The Nasdaq, which closed above 9,000 for the first time in late December, has marked 31 new highs this year, beating last year's 16 times.

TECH’S BIG YEAR: Technology stocks have helped power the broader market’s gains this year. Tech is on track to finish 2019 with a gain of about 47.5%, well ahead of the other 10 sectors in the S&P 500.

BANKING ON BANKS: Financial sector stocks, especially big banks, posted strong gains in 2019, despite a sharp pullback in interest rates.

The sector is up 28.8% for the year, while JPMorgan Chase, Bank of America and Citigroup are each up over 40%.

COMMODITIES: Benchmark U.S. crude oil lost 57 cents to $61.11 per barrel. Brent crude, the international standard, gave up 65 cents to $66.02 per barrel.

The price of gold rose $4.70 to $1,523.30 per ounce.

MARKETS OVERSEAS: Britain's FTSE 100 slipped 0.6%, while the CAC 40 in Paris shed 0.1%. Germany's markets were closed. In Asia, Hong Kong's Hang Seng index lost 0.5%, while in Australia the S&P ASX 200 declined 1.7%. Many markets, including those in Tokyo and Seoul, have already ended trading for 2019.


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## sptrawler

Thanks bigdog, for another year of posting up the daily stock market overview, it is greatly appreciated.


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## bigdog

Stocks got the New Year off to a roaring start Thursday with more solid gains and record highs for major U.S. indexes, following up on a strong finish to 2019.

The Dow Jones Industrial Average climbed more than 300 points, as shares in Walt Disney, Boeing, Apple and other big companies rose. Technology sector stocks accounted for a good part of the upward move. Smaller-company stocks lagged the broader market’s gains.

The market has been grinding higher for weeks, pushing indexes to record highs, as concerns about the strength of the economy and the possibility of further escalation in the U.S.-China trade war have eased. Three interest rate cuts by the Federal Reserve and signals that the central bank is in no hurry to raise rates this year have also helped steady markets after a summer slump.

"At this point, the momentum we saw in December is carrying into January,” said Willie Delwiche, investment strategist at Baird. “It might take a little bit to really figure out whether the optimism expressed in U.S. stocks all of last year is warranted with respect to fundamentals, but for now, the benefit of the doubt is with the bulls.”

The S&P 500 climbed 27.07 points, or 0.8%, to 3,257.85. The Dow rose 330.36 points, or 1.2%, to 28,868.80. The Nasdaq composite gained 119.58 points, or 1.3%, to 9,092.19. All three indexes notched new record highs.

The DOW is up 27% over 52-wk low chg.





Tokyo's market was closed for the New Year's Day holiday.

The S&P/ASX 200 index is poised to follow the lead of U.S. markets and storm higher on Friday. According to the latest SPI futures, the ASX 200 is poised to open the day 0.9% or 58 points higher this morning.










https://www.newser.com/article/dfb3...0-off-to-a-solid-start-with-more-records.html

* Wall Street gets 2020 off to a solid start with more records *
By ALEX VEIGA, Associated Press

Stocks got the New Year off to a roaring start Thursday with more solid gains and record highs for major U.S. indexes, following up on a strong finish to 2019.

The Dow Jones Industrial Average climbed more than 300 points, as shares in Walt Disney, Boeing, Apple and other big companies rose. Technology sector stocks accounted for a good part of the upward move. Smaller-company stocks lagged the broader market’s gains.

The market has been grinding higher for weeks, pushing indexes to record highs, as concerns about the strength of the economy and the possibility of further escalation in the U.S.-China trade war have eased. Three interest rate cuts by the Federal Reserve and signals that the central bank is in no hurry to raise rates this year have also helped steady markets after a summer slump.

"At this point, the momentum we saw in December is carrying into January,” said Willie Delwiche, investment strategist at Baird. “It might take a little bit to really figure out whether the optimism expressed in U.S. stocks all of last year is warranted with respect to fundamentals, but for now, the benefit of the doubt is with the bulls.”

The S&P 500 climbed 27.07 points, or 0.8%, to 3,257.85. The Dow rose 330.36 points, or 1.2%, to 28,868.80. The Nasdaq composite gained 119.58 points, or 1.3%, to 9,092.19. All three indexes notched new record highs.

Smaller company stocks didn’t fare nearly as well. The Russell 2000 index slid 1.70 points, or 0.1%, to 1,666.77.

The latest gains follow a blockbuster performance by the market in 2019. The S&P 500 and Nasdaq closed out the year Tuesday with their best annual performance since 2013.

Bond prices rose. The yield on the 10-year Treasury fell to 1.88% from 1.91% late Tuesday.

U.S. stocks headed higher from the get-go Thursday as markets reopened following the New Year’s Day holiday. The market got a boost following a rally overseas after China's central bank said it will free up more money for lending.

China's central bank said it will cut the amount of money banks will be required to have on hand from Jan. 6. The move is expected to boost the country's slowing economy ahead of the Lunar New Year, which falls on Jan. 25.

“China’s cutting is a reminder that central banks are providing liquidity,” Delwiche said.

Investors continued to wait for Washington and Beijing to formalize an initial trade deal that has helped ease the market’s jitters over the 18-month dispute between the world’s two biggest economies.

Washington and Beijing announced last month that they reached an agreement over a "Phase 1" trade pact that calls for the U.S. to reduce tariffs and China to buy larger quantities of U.S. farm products.

Earlier this week, President Donald Trump tweeted that he will sign the initial trade deal with China at the White House this month. He also said he plans to travel to Beijing at a later date to open talks on other sticking points in the dispute that remain to be worked out, including Chinese practices the U.S. complains unfairly favor its own companies.

Technology companies accounted for a big slice of the market's upward move Thursday. Apple rose 2.3%, while Advanced Micro Devices jumped 7.1%.

Communication services and industrial stocks also notched solid gains. Facebook added 2.2% and Boeing rose 2.3%. General Electric climbed 6.9%.

Retailers and restaurant chains helped lift the market. Amazon gained 2.7% and McDonald's rose 1.6%.

Goldman Sachs Group was among the big gainers in the financial sector, climbing 1.9%.

Utilities, real estate and materials stocks fell as traders shifted money away from the safe-play sectors.

Tesla rose 2.9% after a published report suggested the electric car maker will deliver its first China made Model 3 sedans as early as next week.

Anixter International climbed 3.9% after the supplier of communication and security products agreed to a higher buyout offer from private equity firm Clayton, Dubilier and Rice.

Energy futures bounced back from an early slide to close mostly higher.

Benchmark crude oil rose 12 cents to settle at $61.18 a barrel. Brent crude oil, the international standard, gained 25 cents to close at $66.25 a barrel.

Wholesale gasoline rose 1 cent to $1.70 per gallon. Heating oil was little changed at $2.02 per gallon. Natural gas fell 7 cents to $2.12 per 1,000 cubic feet.

Gold rose $5.00 to $1,524.50 per ounce, silver rose 14 cents to $17.97 per ounce and copper rose 4 cents to $2.83 per pound.

The dollar fell to 108.55 Japanese yen from 108.72 yen on Wednesday. The euro weakened to $1.1166 from $1.1262.

Major indexes in Europe closed broadly higher. Germany's DAX rose 1%, while France's CAC 40 gained 1.1%. Britain's FTSE 100 added 0.8%. In Asia, Hong Kong's Hang Seng jumped 1.1% and South Korea's Kospi lost 1.0%. Tokyo's market was closed for the New Year's Day holiday.


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## bigdog

Stocks fell broadly on Wall Street and oil prices surged Friday after a U.S. strike killed a top Iranian general in Iraq, raising tensions in the Middle East.

The selling, which lost some momentum toward the end of the day, ended a five-week winning streak for the S&P 500 a day after the benchmark index hit its latest record high.

The price of U.S. crude oil climbed 3.1%. Investors sought safety in U.S. government bonds, sending their yields lower. The price of gold rose.

Technology, financial and health care stocks accounted for much of the selling. Companies that rely on consumer spending also fell, along with airlines. Several energy stocks got a boost from higher oil prices. Defence contractors also notched gains.

The strike marks a major escalation in the conflict between Washington and Tehran, as Iran vowed “harsh retaliation" for the killing of the senior military leader.

“Until now, the two big risks have been policy -- trade and the Fed,” said Jeff Kravetz, regional investment director at U.S. Bank Private Wealth Management. “This introduces a wildcard, which is a third risk: rising political tensions in the Middle East.”

The S&P 500 dropped 23 points, or 0.7%, to 3,234.85. The index ended with a 0.2% loss for the week.

The Dow Jones Industrial Average fell 233.92 points, or 0.8%, to 28,634.88. The index briefly dropped 368 points.

The Nasdaq lost 71.42 points, or 0.8%, to 9,020.77. The Russell 2000 index of smaller company stocks gave up 5.90 points, or 0.4%, to 1,660.87.

The major stock indexes were coming off record highs after closing out 2019 earlier in the week with the best annual performance by the S&P 500 and Nasdaq since 2013.

Japanese markets were closed.










*Chart DOW vs S&P 500 vs NASDAQ Composite vs AORD





*
https://www.chroniclejournal.com/ne...cle_f64b3cf5-dc44-5eb8-85d9-146dacc9da33.html

*Oil prices surge, stocks fall after US kills Iranian general *
 Oil prices surge, stocks fall after US kills Iranian general 

Alex Veiga The Associated Press
Jan 3, 2020
Stocks fell broadly on Wall Street and oil prices surged Friday after a U.S. strike killed a top Iranian general in Iraq, raising tensions in the Middle East.

The selling, which lost some momentum toward the end of the day, ended a five-week winning streak for the S&P 500 a day after the benchmark index hit its latest record high.

The price of U.S. crude oil climbed 3.1%. Investors sought safety in U.S. government bonds, sending their yields lower. The price of gold rose.

Technology, financial and health care stocks accounted for much of the selling. Companies that rely on consumer spending also fell, along with airlines. Several energy stocks got a boost from higher oil prices. Defence contractors also notched gains.

The strike marks a major escalation in the conflict between Washington and Tehran, as Iran vowed “harsh retaliation" for the killing of the senior military leader.

“Until now, the two big risks have been policy -- trade and the Fed,” said Jeff Kravetz, regional investment director at U.S. Bank Private Wealth Management. “This introduces a wildcard, which is a third risk: rising political tensions in the Middle East.”

The S&P 500 dropped 23 points, or 0.7%, to 3,234.85. The index ended with a 0.2% loss for the week.

The Dow Jones Industrial Average fell 233.92 points, or 0.8%, to 28,634.88. The index briefly dropped 368 points.

The Nasdaq lost 71.42 points, or 0.8%, to 9,020.77. The Russell 2000 index of smaller company stocks gave up 5.90 points, or 0.4%, to 1,660.87.

The major stock indexes were coming off record highs after closing out 2019 earlier in the week with the best annual performance by the S&P 500 and Nasdaq since 2013.

Investor sentiment has been mostly positive in recent weeks as concerns about the strength of the economy and the possibility of further escalation in the U.S.-China trade war eased. Three interest rate cuts by the Federal Reserve have also helped steady markets.

But the market’s relative calm ended with Friday morning’s news that the U.S. had killed Gen. Qassem Soleimani, head of Iran’s elite Quds Force, in an air attack at the Baghdad international airport.

President Donald Trump said the attack was ordered because Soleimani was plotting to kill many Americans. The Pentagon took steps to reinforce the American military presence in the Middle East in preparation for reprisals from Iran.

“We'll probably see some short-term volatility, but it's doubtful that it's going to escalate to something that is a meaningful concern for investors,” Kravetz said.

The heightened geopolitical risk sent oil prices higher Friday. Benchmark U.S. crude climbed $1.87, or 3.1%, to settle at $63.05 per barrel. It had been up 3.6% earlier in the day. Brent crude, used to price international oils, rose $2.35, or 3.5%, to close at $68.60 per barrel.

Energy companies made gains over concerns that a U.S.-Iran conflict could disrupt global supplies and send oil prices even higher. Occidental Petroleum rose 2.4% and Hess gained 3.1%.

The surge in oil helped pull down airline stocks and drove up shares in defence contractors.

American Airlines Group dropped 5%, United Airlines Holdings slid 2.1% and Delta Air Lines lost 1.7%. Meanwhile, Northrop Grumman climbed 5.4%, Raytheon rose 1.5% and Lockheed Martin gained 3.6%.

The price of gold, which investors buy in times of uncertainty as a safe haven of value, rose $24.70, or 1.6%, to $1,549.20 per ounce.

Bond prices rose. The yield on the 10-year Treasury fell to 1.79% from 1.88% late Thursday, a big move. Lower bond yields bring down the interest rates that banks charge for mortgages and other consumer loans, making them less profitable. That prompted a sell-off in bank shares. JPMorgan slid 1.3%, Bank of America dropped 2.1% and Citigroup lost 1.9%.

Investors bid up Lamb Weston after the frozen foods supplier's fiscal second-quarter earnings and revenue beat Wall Street analysts' forecasts. The stock was the biggest gainer in the S&P 500, vaulting 11.3%.

Tesla climbed 3% after the electric vehicle maker reported a 50% rise in deliveries for 2019.

In other commodities trading, wholesale gasoline rose 5 cents to $1.75 per gallon. Heating oil climbed 4 cents to $2.06 per gallon. Natural gas rose 1 cent to $2.13 per 1,000 cubic feet.

Silver rose 10 cents to $18.07 per ounce and copper fell 3 cents to $2.80 per pound.

The dollar fell to 108.01 Japanese yen from 108.55 yen on Thursday. The euro was unchanged at $1.1166.

The heightened geopolitical tensions and surging oil prices also weighed on global markets Friday.

In Europe, Germany's DAX tumbled 1.2%, while Italy's FTSE MIB dropped 0.6%. Both countries are net oil importers with big manufacturing sectors. France's CAC 40 ended flat, while London's FTSE gained 0.2%.

Markets in Asia ended mixed. Hong Kong's Hang Seng lost 0.3%, while India's Sensex lost 0.5%. Australia's S&P-ASX 200 gained 0.6%. Japanese markets were closed.

005


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## bigdog

Stocks shook off an early loss and managed modest gains on Wall Street as traders remain cautious about rising tensions between the U.S. and Iran.

Gold touched its highest price in nearly seven years Monday as investors sought safety amid worries that rising U.S.-Iran tensions could lead to war.  Gold settled at $1,566.20 per ounce, up $17, and it's climbed more than $40 since before Soleimani's killing.

U.S. stocks seemed set to fall a second straight day Monday on those same worries, but gains for oil producers and big internet companies made up for drops by industrial companies and banks.

Stocks in Asia and Europe retreated as dollars flowed out of riskier investments, but the U.S. market shook off its morning losses to grind out a modest gain. After dropping 0.6% as soon as trading opened, the S&P 500 pushed steadily higher through the day and ended up recovering half its sharp loss from Friday.

The S&P 500 climbed 11.43 points, or 0.4%, to 3,246.28. The Dow Jones Industrial Average erased an early morning loss of 216 points en route to a gain of 68.50 points, or 0.2%, to 28,703.38, and the Nasdaq composite rose 50.70 points, or 0.6%, to 9,071.46.

Caution has been seeping through markets since early Friday, when a U.S. drone strike killed Iranian Gen. Qassem Soleimani in Iraq. Both the United States and Iran have since talked up the threat of violence, which pushed up the price of gold as money flowed into investments seen as safer. Gold neared $1,591 per ounce during morning trading and reached its highest level since April 2013.

The S&P/ASX 200 index looks set to push higher on Tuesday. According to the latest SPI futures, the ASX 200 is poised to jump 0.55% or 36 points at the open.










https://www.usnews.com/news/busines...-sink-gold-jumps-as-us-iran-tensions-escalate

*Gold Climbs on War Worries; US Stocks Shake off Early Loss*
Stocks shook off an early loss and managed modest gains on Wall Street as traders remain cautious about rising tensions between the U.S. and Iran.
By Associated Press, Wire Service Content Jan. 6, 2020, at 4:36 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — Gold touched its highest price in nearly seven years Monday as investors sought safety amid worries that rising U.S.-Iran tensions could lead to war.

Stocks in Asia and Europe retreated as dollars flowed out of riskier investments, but the U.S. market shook off its morning losses to grind out a modest gain. After dropping 0.6% as soon as trading opened, the S&P 500 pushed steadily higher through the day and ended up recovering half its sharp loss from Friday.

The S&P 500 climbed 11.43 points, or 0.4%, to 3,246.28. The Dow Jones Industrial Average erased an early morning loss of 216 points en route to a gain of 68.50 points, or 0.2%, to 28,703.38, and the Nasdaq composite rose 50.70 points, or 0.6%, to 9,071.46.

Caution has been seeping through markets since early Friday, when a U.S. drone strike killed Iranian Gen. Qassem Soleimani in Iraq. Both the United States and Iran have since talked up the threat of violence, which pushed up the price of gold as money flowed into investments seen as safer. Gold neared $1,591 per ounce during morning trading and reached its highest level since April 2013.

Gold settled at $1,566.20 per ounce, up $17, and it's climbed more than $40 since before Soleimani's killing.

Gold has historically performed well around past military conflicts, such as the two Persian Gulf wars and the Sept. 11, 2001 attacks, even after taking into account interest rates and the dollar's movements, according to Goldman Sachs commodities analysts.

“The escalation in the Middle East was both unexpected and unwelcome,” said Craig Erlam, senior market analyst at trading platform OANDA Europe. “Investors are now fully in defensive mode, hoping for the best but fearing the worst."

U.S. stocks seemed set to fall a second straight day Monday on those same worries, but gains for oil producers and big internet companies made up for drops by industrial companies and banks.

Oil prices have climbed in recent days because any potential violence in the Middle East could disrupt oilfields in the region. Benchmark U.S. crude oil rose 22 cents to settle at $63.27 per barrel, adding to big gains from Friday. Brent crude, the international standard, rose 31 cents to $68.91 per barrel.

That helped drive energy stocks in the S&P 500 to a 0.8% gain, the second-largest among the 11 sectors that make up the index. EOG Resources jumped 4.1%, Occidental Petroleum rose 3.3% and Halliburton gained 2.5%.

Healthy gains for Amazon, Apple, Facebook and Google's parent company, Alphabet, also helped lift the market.

Besides waiting for the next step in the clash between the United States and Iran, several big economic reports are on the schedule this upcoming week that could move markets. The headliner is Friday's jobs report from the government.

Solid job growth has helped support the U.S. economy, even as trade wars hurt manufacturing around the world, and economists expect Friday's report to show that employers added 155,000 jobs last month. The healthy job market is one of the reasons the S&P 500 soared to its second-best showing in 22 years in 2019. Big moves by central banks around the world to shield the economy from the pain of trade wars were also big factors.

Overseas stock markets slumped Monday, though the losses moderated as trading headed west with the sun.

In Asia, Japan's Nikkei 225 lost 1.9%, South Korea's Kospi dropped 1% and Hong Kong's Hang Seng fell 0.8%.

In Europe, Germany's DAX lost 0.7% and France's CAC 40 dropped 0.5%. The FTSE 100 in London fell 0.6%.

Treasury yields rose and recovered some of their sharp drops from Friday. The yield on the 10-year Treasury climbed to 1.80% from 1.78% late Friday. It had been at 1.88% late Thursday, before Soleimani's killing.

In the commodities markets, wholesale gasoline was little changed at $1.75 per gallon. Heating oil fell 3 cents to $2.03 per gallon. Natural gas rose 1 cent to $2.14 per 1,000 cubic feet.

Silver rose 3 cents to $18.10 an ounce. Copper was little changed at $2.80 per pound.

The dollar rose to 108.46 Japanese yen from 108.01 yen on Friday. The euro strengthened to $1.1192 from $1.1166.


----------



## bigdog

U.S. stocks mostly fell on Tuesday, but the big rush for safety that coursed through global markets after the United States killed a top Iranian general on Friday slowed.

Gold’s momentum eased a day after touching its highest price in nearly seven years, several Asian and European stock markets clawed back much of their losses from Monday and benchmark U.S. crude dropped for the first time in four days. The S&P 500 dipped but remains within 0.6% of its record, and a measure of fear in the stock market moved lower.

The market’s return to a wait-and-see approach wasn’t that surprising to some investors, even as talk remained tough in the increasingly tense U.S.-Iran confrontation. U.S. officials were preparing for an Iranian response to their drone strike against Gen. Qassem Soleimani.

The market may be more focused on the upcoming earnings season for U.S. companies and the forecasts that CEOs will give for 2020 profits, said Rich Weiss, senior portfolio manager at American Century Investments. After a year where the S&P 500 surged roughly 30%, despite profits for big companies falling, he said investors will need to see more solid growth to justify near-record prices.

“We definitely pay attention and are keeping an eye on” the U.S.-Iran tensions, Weiss said. “But it’s not what we alter investment strategy on.”

“The market seems to be looking right past” the tensions, he said. “I’m much more concerned about the fundamentals. The lack of earnings visibility is troubling.”

The S&P 500 fell 9.10 points, or 0.3%, to 3,237.18. The Dow Jones Industrial Average lost 119.70, or 0.4%, to 28,583.68, and the Nasdaq composite slipped 2.88, or less than 0.1%, to 9,068.58.

The S&P/ASX 200 index looks set to edge lower on Wednesday. According to the latest SPI futures, the ASX 200 is poised to fall 4 points at the open.










https://www.usnews.com/news/busines...pen-lower-as-investors-monitor-iran-trensions

*US Stock Indexes Slip, but Rush for Safety Slows*
By Associated Press, Wire Service Content Jan. 7, 2020, at 4:31 p.m. 

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks mostly fell on Tuesday, but the big rush for safety that coursed through global markets after the United States killed a top Iranian general on Friday slowed.

Gold’s momentum eased a day after touching its highest price in nearly seven years, several Asian and European stock markets clawed back much of their losses from Monday and benchmark U.S. crude dropped for the first time in four days. The S&P 500 dipped but remains within 0.6% of its record, and a measure of fear in the stock market moved lower.

The market’s return to a wait-and-see approach wasn’t that surprising to some investors, even as talk remained tough in the increasingly tense U.S.-Iran confrontation. U.S. officials were preparing for an Iranian response to their drone strike against Gen. Qassem Soleimani.

The market may be more focused on the upcoming earnings season for U.S. companies and the forecasts that CEOs will give for 2020 profits, said Rich Weiss, senior portfolio manager at American Century Investments. After a year where the S&P 500 surged roughly 30%, despite profits for big companies falling, he said investors will need to see more solid growth to justify near-record prices.

“We definitely pay attention and are keeping an eye on” the U.S.-Iran tensions, Weiss said. “But it’s not what we alter investment strategy on.”

“The market seems to be looking right past” the tensions, he said. “I’m much more concerned about the fundamentals. The lack of earnings visibility is troubling.”

The S&P 500 fell 9.10 points, or 0.3%, to 3,237.18. The Dow Jones Industrial Average lost 119.70, or 0.4%, to 28,583.68, and the Nasdaq composite slipped 2.88, or less than 0.1%, to 9,068.58.

Energy stocks dropped with the price of crude. Benchmark U.S. oil fell 57 cents to settle at $62.70 per barrel. It had jumped more than $2 per barrel over the last two days. Brent crude, the international standard, fell 64 cents to $68.27 a barrel.

That helped drag Halliburton down 2.8% and Chevron down 1.3%. Apache was an outlier, and the oil and gas producer surged 26.8% for the biggest gain in the S&P 500 after it and Total said they found a significant amount of oil off the coast of Suriname.

Asian stock markets had some of the day’s strongest gains and clawed back much of their losses from Monday. Japan’s Nikkei 225 jumped 1.6%, South Korea’s Kospi rose 0.9% and Hong Kong’s Hang Seng added 0.3%.

In Europe, Germany’s Dax returned 0.8%. France’s CAC 40 and the FTSE 100 in London were virtually flat.

Gold slowed its momentum and rose $5.60 to settle at $1,571.80 per ounce. It had climbed more than $16 each of the last two days as investors piled into what they thought could hold steady even if a war broke out in the Middle East.

Treasury yields climbed modestly after a pair of reports showed that U.S. manufacturing continues to wane, but not by enough to drag down the rest of the economy. The 10-year Treasury yield rose to 1.82% from 1.81% late Monday. The two- and 30-year yields also inched higher.

Manufacturing has been weak in the country and around the world, hurt by tariffs and trade wars, and a U.S. Commerce Department report showed that factory orders fell 0.7% in November from a month earlier. It was the third drop in the last four months.

But even with that weakness, the solid U.S. jobs market and spending by households have helped prop up the rest of the economy. A separate report released Tuesday morning showed that the nation's services industries grew at a faster pace last month than economists expected. The reading includes activity in the retail, health care and other industries.

In commodities trading, wholesale gasoline fell 3 cents to $1.72 per gallon. Heating oil was unchanged at $2.03 per gallon. Natural gas rose 2 cents to $2.16 per 1,000 cubic feet.

Silver rose 22 cents to $18.32 per ounce, and copper was little changed at $2.80 per pound.

The dollar rose to 108.53 Japanese yen from 108.46 yen on Monday. The euro fell to $1.1145 from $1.1192.


----------



## bigdog

Markets unclenched on Wednesday, and U.S. stocks neared records on hopes that the United States and Iran are backing away from the edge of war.

The rally capped a whirlwind day of reversals that swept through markets around the world. Stocks initially reeled after Iran fired missiles at two bases in Iraq housing U.S. troops, retaliation for a U.S. drone strike that killed a top Iranian general last week.

Gold soared overnight as investors scrambled for safety, crude jumped on fears a war would squeeze oil supplies and the futures market suggested U.S. stocks would drop sharply as soon as trading opened in New York. But the selling abated as reports suggested no Americans died and after Iran’s foreign minister said his country had concluded “proportionate measures in self-defense.”

When trading opened, the S&P 500 climbed modestly higher, and it more than tripled its gain after President Donald Trump confirmed that no Americans were hurt and that Iran “appears to be standing down.”

Trump said he’d add economic sanctions on Iran, but he also said that the United States is “ready to embrace peace with all who seek it.” That fit with the market's hopes that no further military escalations may be on the way, at least for now.

Not only did stocks climb, crude oil ended up slumping sharply and gold fell for the first time in 11 days. Treasury yields rose in a sign of optimism, and a measure of fear in the stock market eased.

The S&P 500 rose 15.87 points, or 0.5%, to 3,253.05. It had been up as much as 0.9% earlier in the day and was on track to set a record, but the gains moderated in the last half hour of trading.

The Dow Jones Industrial Average rose 161.41, or 0.6%, to 28,745.09. The Nasdaq composite set a record after rising 60.66, or 0.7%, to 9,129.24.

The S&P/ASX 200 index looks set to return to form on Thursday. According to the latest SPI futures, the ASX 200 is poised to storm a sizeable 63 points or 0.9% higher at the open.










https://www.usnews.com/news/busines...ize-after-being-roiled-by-iran-missile-attack

*US Stocks Jump, Oil Reverses Course as Markets Exhale*
Stocks neared records Wednesday on hopes that the United States and Iran are backing away from the edge of war.
By Associated Press, Wire Service Content Jan. 8, 2020, at 4:40 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — Markets unclenched on Wednesday, and U.S. stocks neared records on hopes that the United States and Iran are backing away from the edge of war.

The rally capped a whirlwind day of reversals that swept through markets around the world. Stocks initially reeled after Iran fired missiles at two bases in Iraq housing U.S. troops, retaliation for a U.S. drone strike that killed a top Iranian general last week.

Gold soared overnight as investors scrambled for safety, crude jumped on fears a war would squeeze oil supplies and the futures market suggested U.S. stocks would drop sharply as soon as trading opened in New York. But the selling abated as reports suggested no Americans died and after Iran’s foreign minister said his country had concluded “proportionate measures in self-defense.”

When trading opened, the S&P 500 climbed modestly higher, and it more than tripled its gain after President Donald Trump confirmed that no Americans were hurt and that Iran “appears to be standing down.”

Trump said he’d add economic sanctions on Iran, but he also said that the United States is “ready to embrace peace with all who seek it.” That fit with the market's hopes that no further military escalations may be on the way, at least for now.

Not only did stocks climb, crude oil ended up slumping sharply and gold fell for the first time in 11 days. Treasury yields rose in a sign of optimism, and a measure of fear in the stock market eased.

The S&P 500 rose 15.87 points, or 0.5%, to 3,253.05. It had been up as much as 0.9% earlier in the day and was on track to set a record, but the gains moderated in the last half hour of trading.

The Dow Jones Industrial Average rose 161.41, or 0.6%, to 28,745.09. The Nasdaq composite set a record after rising 60.66, or 0.7%, to 9,129.24.

The stock market has historically bounced back quickly from geopolitical shocks, such as Friday's U.S. killing of Iranian Gen. Qassem Soleimani, as long as they don't result in a war and recession, said Linda Duessel, senior equity strategist at Federated Investors.

“Geopolitical shocks have resulted in sharp, short pullbacks, much of which is recovered in the next few months, and I suspect everyone in this business knows that data point and uses any opportunity to buy up stocks," she said.

With central banks around the world pushing stimulus and U.S. households remaining resilient amid a solid job market, Duessel said she thinks the U.S. economy is likely to keep growing unless an actual war breaks out or inflation unexpectedly bursts higher.

“You don't get into trouble in the market unless recession is on the horizon,” she said, “and we have a very hard time putting together a scenario where we have a recession anytime soon.”

A government report on Friday will give the latest update on the health of the job market, which has been key in propping up the economy despite weakness in manufacturing caused by Trump’s trade wars. Economists expect Friday’s report to show that employers added 160,00 jobs last month, and a report on Wednesday suggested hiring in the private sector may have been stronger in December than economists forecast.

Benchmark U.S. crude jumped as high as $65.65 per barrel in overnight trading, when worries about possible disruptions to oil supplies were at their peak. But the price sank through the day, with losses accelerating after a U.S. government report showed that the amount of oil supplies in inventories rose last week.

Benchmark U.S. crude fell $3.09, or 4.9%, to settle at $59.61. Brent crude, the international standard, lost $2.83, or 4.1%, to $65.44 per barrel.

Gold had a similar whipsaw day. It had climbed as high as $1,604.20 per ounce in overnight trading before settling at $1,557.40, down $14.40.

Stock indexes slumped sharply in Asia, but the selling eased as trading moved westward through the day.

Japan's Nikkei 225 index lost 1.6%, South Korea's Kopsi dropped 1.1% and the Hang Seng in Hong Kong fell 0.8%. In Europe, Germany's DAX returned 0.7%, and France's CAC 40 rose 0.3%. The FTSE 100 in London was virtually flat.

The yield on the 10-year Treasury sank as low as 1.70% when worries were at their height, but they climbed through the day and were at 1.87% in afternoon trading, up from 1.82% late Tuesday. Treasury yields tend to rise with investor optimism about the economy's prospects.

Walgreens Boots Alliance fell 5.8% for the biggest loss in the S&P 500 after reporting weaker earnings for the latest quarter than analysts expected.

In commodities trading, wholesale gasoline fell 7 cents to $1.65 per gallon. Heating oil fell 7 cents to $1.96 per gallon. Natural gas fell 2 cents to $2.14 per 1,000 cubic feet.

The price of gold fell $14.40 to $1,557.40 per ounce. Silver fell 23 cents to $18.09 per ounce and copper rose 2 cents to $2.82 per pound.

The dollar rose to 109.22 Japanese yen from 108.53 yen on Monday. The euro fell to $1.1111 from $1.1145.


----------



## bigdog

*A SEA OF GREEN
*
Stocks around the world climbed on Thursday, and U.S. indexes hit records as markets continued a rally sparked after the United States and Iran appeared to step away from the edge of war.

Money flowed into riskier investments, such as technology stocks, and trickled out of traditional hiding spots for investors when they’re nervous, such as gold. A measure of fear in the stock market had its largest drop in a week.

Stocks have been rallying since Wednesday, after investors took comments from President Donald Trump and Iranian officials to mean no military escalation is imminent in their tense conflict. It was a sharp turnaround from earlier days, when markets tumbled on the threat of war after the United States killed a top Iranian general in a drone strike.

The S&P 500 rose 21.65 points, or 0.7%, to 3,274.70 and surpassed its record set last week. The Dow Jones Industrial Average climbed 211.81 points, or 0.7%, to 28,956.90, and the Nasdaq composite rose 74.18, or 0.8%, to 9,203.43. Both also hit records. 

Technology stocks powered to the biggest gains in the S&P 500 and accounted for more than a third of the index’s gain. Apple’s 2.1% rise added momentum, and Advanced Micro Devices rose 2.4% for one of the larger gains in the S&P 500.

It looks set to be a solid finish to the week for the S&P/ASX 200 index. According to the latest SPI futures, the ASX 200 is poised to rise 15 points or 0.2% at the open.










https://www.sandiegouniontribune.co...gher-on-wall-street-ahead-of-china-trade-deal

*US stocks set records as fear recedes from market; gold dips *

By STAN CHOE and DAMIAN J. TROISEAP Business Writers 
Jan. 9, 2020 1:32 PM
Stocks around the world climbed on Thursday, and U.S. indexes hit records as markets continued a rally sparked after the United States and Iran appeared to step away from the edge of war.

Money flowed into riskier investments, such as technology stocks, and trickled out of traditional hiding spots for investors when they’re nervous, such as gold. A measure of fear in the stock market had its largest drop in a week.

Stocks have been rallying since Wednesday, after investors took comments from President Donald Trump and Iranian officials to mean no military escalation is imminent in their tense conflict. It was a sharp turnaround from earlier days, when markets tumbled on the threat of war after the United States killed a top Iranian general in a drone strike.

The S&P 500 rose 21.65 points, or 0.7%, to 3,274.70 and surpassed its record set last week. The Dow Jones Industrial Average climbed 211.81 points, or 0.7%, to 28,956.90, and the Nasdaq composite rose 74.18, or 0.8%, to 9,203.43. Both also hit records.

Diminishing worries about a U.S.-Iran war put more of the market’s focus on the economy, corporate profits and other inputs that directly affect stock prices.

“The market is in pretty solid shape,” said Matt Hanna, portfolio manager at Summit Global Investments. “We could see some volatility in the beginning of 2020” following a well-worn path of choppy first halves for stocks during presidential election years, “but we don’t see any sort of recession on the horizon.”

Across markets, worries about a recession have faded since last year as central banks cut interest rates and pumped stimulus into the global economy. The United States and China also moved toward an interim deal in their trade war. China confirmed on Thursday that its chief envoy in tariff talks with Washington will visit next week to sign their “Phase 1” trade deal.

The spotlight will move next to Friday’s labor report, and economists expect it to show employers added 160,000 jobs last month. They also forecast the unemployment rate to hold at its low level of 3.5%. The numbers are key because a strong job market has been propping up the economy and allowing U.S. households to continue to spend, even as manufacturing weakens due to tariffs and trade wars.

Technology stocks powered to the biggest gains in the S&P 500 and accounted for more than a third of the index’s gain. Apple’s 2.1% rise added momentum, and Advanced Micro Devices rose 2.4% for one of the larger gains in the S&P 500.

On the losing end were shares of several big retailers. Kohl’s fell 6.5% for the largest loss in the S&P 500 after it reported weaker sales during the holiday season versus a year earlier. Bed Bath & Beyond plunged 19.2% after its results for the latest quarter fell well short of analysts’ expectations.

Asian stock markets jumped on the heels of Wednesday’s rally, which really took hold after trading had closed in the region.

Japan’s Nikkei 225 leaped 2.3%, Hong Kong’s Hang Seng jumped 1.7% and South Korea’s Kospi rose 1.6%.

European markets also gained, but more modestly. Germany’s DAX returned 1.3%, and France’s CAC 40 added 0.2%. The FTSE 100 in London rose 0.3%.

The yield on the 10-year Treasury dipped down to 1.86% from 1.87% late Wednesday.

Gold fell $5.70 to $1,551.70 per ounce as investors felt less need for safety. It was the second drop in a row for the metal, following 10 straight days of gains.

In other commodities trading, benchmark U.S. crude slipped 5 cents to settle at $59.56 a barrel. Brent crude, the international standard, fell 7 cents to end at $65.37 a barrel. Wholesale gasoline was little changed at $1.65 per gallon. Heating oil fell 1 cent to $1.95 per gallon. Natural gas rose 3 cents to $2.17 per 1,000 cubic feet.

Silver fell 23 cents to $17.86 per ounce, and copper fell 1 cent to $2.81 per pound.

The dollar rose to 109.52 Japanese yen from 109.22 yen on Monday. The euro fell to $1.1106 from $1.1111.


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## bigdog

U.S. stocks fell from their record heights on Friday after a report showed hiring was a touch weaker than expected last month.

Employers added 145,000 jobs across the country in December, short of the 160,000 that economists forecast. But the growth was solid enough to bolster Wall Street's view that the job market is holding up and households can continue to spend, preserving the largest part of the economy. The bond market also rallied after the report showed workers’ wages aren’t rising much, which lessens the threat of inflation.

The S&P 500 fell 9.35 points, or 0.3%, to 3,265.35 from its record set Thursday. The Dow Jones Industrial Average briefly topped the 29,000 level for the first time, but it ended at 28,823.77, down 133.13, or 0.5%. The Nasdaq composite dropped 24.57, or 0.3%, to 9,178.86.

“I don't think today's report was a big needle mover for the market or for Fed policy,” said Liz Ann Sonders, chief investment strategist at Charles Schwab. “The economic environment looks fine in 2020, but the risk is that sentiment may have gotten overly complacent, and we need earnings to step up.”

Even with Friday’s loss, the S&P 500 closed out a 0.9% gain for the week. It’s a sharp turnaround from earlier, when the S&P 500 seemed to be heading for just its third weekly loss in the last 14 as worries rose about a possible U.S.-Iran war. But stocks rallied after comments from President Donald Trump and Iran made markets believe a military escalation isn’t imminent.

That put the focus back on the economy and corporate earnings. The S&P 500 returned a stellar 31.5% last year even though earnings likely fell for big companies, and Sonders said investors will need to see profit growth in 2020 to help justify the records that stock prices are setting.










*12 Month Chart DOW vs S&P 500 vs NASDAQ Composite vs AORD*
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https://www.usnews.com/news/busines...to-mixed-start-on-wall-street-as-hiring-slows

*US Stocks Pull Back From Records Following Jobs Report*
By Associated Press, Wire Service Content Jan. 10, 2020, at 4:30 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — U.S. stocks fell from their record heights on Friday after a report showed hiring was a touch weaker than expected last month.

Employers added 145,000 jobs across the country in December, short of the 160,000 that economists forecast. But the growth was solid enough to bolster Wall Street's view that the job market is holding up and households can continue to spend, preserving the largest part of the economy. The bond market also rallied after the report showed workers’ wages aren’t rising much, which lessens the threat of inflation.

The S&P 500 fell 9.35 points, or 0.3%, to 3,265.35 from its record set Thursday. The Dow Jones Industrial Average briefly topped the 29,000 level for the first time, but it ended at 28,823.77, down 133.13, or 0.5%. The Nasdaq composite dropped 24.57, or 0.3%, to 9,178.86.

“I don't think today's report was a big needle mover for the market or for Fed policy,” said Liz Ann Sonders, chief investment strategist at Charles Schwab. “The economic environment looks fine in 2020, but the risk is that sentiment may have gotten overly complacent, and we need earnings to step up.”

Even with Friday’s loss, the S&P 500 closed out a 0.9% gain for the week. It’s a sharp turnaround from earlier, when the S&P 500 seemed to be heading for just its third weekly loss in the last 14 as worries rose about a possible U.S.-Iran war. But stocks rallied after comments from President Donald Trump and Iran made markets believe a military escalation isn’t imminent.

That put the focus back on the economy and corporate earnings. The S&P 500 returned a stellar 31.5% last year even though earnings likely fell for big companies, and Sonders said investors will need to see profit growth in 2020 to help justify the records that stock prices are setting.

Earnings reports will begin in earnest next week, with JPMorgan Chase, Bank of America and other big banks on the schedule to tell investors how much profit they made in the last three months of 2019. Many will also give forecasts for 2020.

Companies across the S&P 500 have been able to squeeze plenty of profit from each $1 in revenue because wages for their workers aren't rising very quickly, even when the unemployment rate is at a half-century low.

Average hourly earnings for workers were 2.9% higher in December than a year earlier, Friday’s jobs report showed. That’s the weakest growth since July 2018.

Stubbornly low wage growth isn't good for workers, but it removes a threat of higher inflation that could erode corporate profits and push the Federal Reserve to raise interest rates. Markets see low rates as fuel for markets, and the Fed's three rate cuts last year were a big reason for the surge in stocks.

After the jobs report, the yield on the 10-year Treasury fell to 1.82% from 1.85% late Thursday. Treasury yields fall when their prices rise.

Falling rates can pressure banks by limiting the amount of profit they make on mortgages and other loans, and financial stocks in the S&P 500 alone accounted for about a third of the index’s loss.

JPMorgan Chase fell 1%, and Bank of America slipped 0.8%.

Six Flags Entertainment plunged 17.8% after the theme park operator warned investors that it may have to have to nix development plans in China after its partner in the country defaulted on payments. It also said it expects to report a drop in revenue for the latest quarter.

In overseas markets, Japan's Nikkei 225 rose 0.5%, South Korea's Kospi gained 0.9% and the Hang Seng in Hong Kong added 0.3%. Germany's DAX lost 0.1%. France's CAC 40 and the FTSE 100 in London both dipped 0.1%.

In commodities trading, benchmark U.S. oil fell 52 cents to settle at $59.04 per barrel. Brent crude, the international standard, fell 39 cents to $64.98 a barrel.

Wholesale gasoline rose 1 cent to $1.66 per gallon. Heating oil fell 2 cents to $1.93 per gallon. Natural gas rose 3 cents to $2.20 per 1,000 cubic feet.

Gold rose $5.80 to $1,557.50 an ounce, silver rose 17 cents to $18.03 per ounce, and copper rose 1 cent to $2.82 per pound.

The dollar rose to 109.54 Japanese yen from 109.52 yen on Monday. The euro rose to $1.1122 from $1.1106.

1340


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## bigdog

Stocks are closing higher on Wall Street ahead of the signing of a “Phase 1” trade deal with China, sending the S&P 500 and the Nasdaq to record highs.

Technology companies led stocks to broad gains on Wall Street Monday, driving the S&P 500 and Nasdaq composite indexes to more record highs.

Financial, communications services and industrial stocks also notched solid gains. Health care stocks were the only decliners. Bond prices fell, sending yields higher, and the price of gold fell, signs that investors were favoring higher-risk holdings.

The rally, which added to the market's gains from last week, came as investors looked ahead to the signing of an initial trade deal with China and the potential for future talks.

The world’s largest economies are expected to sign the “Phase 1” trade agreement on Wednesday. It is being viewed as an opening to future negotiations that will deal with more complicated trade issues.

Even a partial deal should remove much of the uncertainty that has weighed on companies and investors, at least until after the election, said Scott Ladner, chief investment officer for Horizon Investments in Charlotte.

“We don't think the tariff overhang is going to be very relevant over the next nine months,” Ladner said. “Acting tough with China and imposing tariffs two years before an election is a very different story than doing it two months before an election.”

The S&P 500 index rose 22.78 points, or 0.7%, to 3,288.13. The Nasdaq composite, which is heavily weighted with technology stocks, climbed 95.07 points, or 1%, to 9,273.93. The S&P and Nasdaq previously set new highs last Thursday.

The Dow Jones Industrial Average gained 83.28 points, or 0.3%, to 28,907.05.

The Russell 2000 index of smaller company stocks picked up 11.96 points, or 0.7%, to 1,669.61.

The S&P/ASX 200 index looks set to rebound from yesterday’s decline. According to the latest SPI futures, the ASX 200 is expected to rise 23 points or 0.35% at the open.










https://www.usnews.com/news/busines...-bit-higher-on-wall-street-ahead-of-busy-week

*Stocks Climb Ahead of Trade Deal, Sending S&P 500 to Record*
Stocks are closing higher on Wall Street ahead of the signing of a “Phase 1” trade deal with China, sending the S&P 500 and the Nasdaq to record highs.
By Associated Press, Wire Service Content Jan. 13, 2020, at 4:55 p.m. 

By ALEX VEIGA, AP Business Writer

Technology companies led stocks to broad gains on Wall Street Monday, driving the S&P 500 and Nasdaq composite indexes to more record highs.

Financial, communications services and industrial stocks also notched solid gains. Health care stocks were the only decliners. Bond prices fell, sending yields higher, and the price of gold fell, signs that investors were favoring higher-risk holdings.

The rally, which added to the market's gains from last week, came as investors looked ahead to the signing of an initial trade deal with China and the potential for future talks.

The world’s largest economies are expected to sign the “Phase 1” trade agreement on Wednesday. It is being viewed as an opening to future negotiations that will deal with more complicated trade issues.

Even a partial deal should remove much of the uncertainty that has weighed on companies and investors, at least until after the election, said Scott Ladner, chief investment officer for Horizon Investments in Charlotte.

“We don't think the tariff overhang is going to be very relevant over the next nine months,” Ladner said. “Acting tough with China and imposing tariffs two years before an election is a very different story than doing it two months before an election.”

The S&P 500 index rose 22.78 points, or 0.7%, to 3,288.13. The Nasdaq composite, which is heavily weighted with technology stocks, climbed 95.07 points, or 1%, to 9,273.93. The S&P and Nasdaq previously set new highs last Thursday.

The Dow Jones Industrial Average gained 83.28 points, or 0.3%, to 28,907.05.

The Russell 2000 index of smaller company stocks picked up 11.96 points, or 0.7%, to 1,669.61.

Across markets, worries about a recession have faded since last year as central banks cut interest rates and pumped stimulus into the global economy. In addition, the promise of a “Phase 1” trade deal between the U.S. and China has helped lift markets in recent weeks, easing investors’ concerns of further escalation in the costly conflict.

Full details of the pact are due to be released after the agreement is signed at the White House on Wednesday.

Chipmakers were among the gainers in the technology sector Monday. Nivida climbed 3.1% and Micron Technology rose 1.4%. The sector is particularly sensitive to developments in trade relations because many of the companies rely on China for sales and supply chains. Apple also rose, closing 2.1% higher.

Industrial and communication services companies also made solid gains. General Electric rose 3.9% and Facebook added 1.8%.

Health care stocks slumped, with insurance companies among the sector's biggest decliners. Cigna fell 3.2%, UnitedHealth Group slid 3.1% and Anthem dropped 3.6%.

The yield on the 10-year Treasury rose to 1.85% from 1.82% late Friday. The pickup in yields helped lift financial stocks, as it makes it possible for banks to charge higher interest rates on mortgages and other consumer loans. Goldman Sachs rose 1.3% and Citigroup gained 1.8%.

Electric car maker Tesla jumped 9.8%, closing above $500 for the first time.

Netflix climbed 3% as the streaming video service earned two best picture nominations for the 92nd annual Academy Awards. Both Martin Scorsese’s “The Irishman” and Noah Baumbach’s “Marriage Story” are contenders.

Traders bid up shares in Hexcel 9.6% after the company said it is being bought by rival Woodward in a deal that will create one of the largest suppliers in the aerospace and defense industry. Woodward rose 4.8% and will own the majority of the combined company when the deal closes.

Wall Street was also gearing up Monday for a busy opening week of corporate earnings being kicked off by major banks. JPMorgan Chase, Wells Fargo and Citigroup will report fourth-quarter earnings on Tuesday and Bank of America will follow on Wednesday.

Analysts predict corporate profits slid by 2% during the fourth quarter, which would mark the first time that earnings for the S&P 500 have fallen four quarters in a row since the period ending in mid-2016, according to FactSet. Companies typically outperform forecasts and temper expectations for sharp declines by the time the bulk of financial reporting is done.

“The management outlooks for this quarter are probably going to be as much, if not more important, than the actual numbers themselves,” Ladner said.

Delta Air Lines will be the first major airline to report financial results on Tuesday. The nation’s largest health insurer, UnitedHealth Group, will report earnings on Wednesday and railroad operator CSX will report on Thursday.

Wall Street will also have several economic reports to consider this week, including government reports on consumer prices, retails sales and home construction.

Benchmark crude oil fell 96 cents to settle at $58.08 a barrel. Brent crude oil, the international standard, dropped 78 cents to close at $64.20 a barrel. Wholesale gasoline was unchanged at $1.66 per gallon. Heating oil declined 3 cents to $1.90 per gallon. Natural gas fell 2 cents to $2.18 per 1,000 cubic feet.

Gold fell $9.10 to $1,548.40 per ounce, silver fell 10 cents to $17.93 per ounce and copper rose 4 cents to $2.86 per pound.

The dollar rose to 109.93 Japanese yen from 109.54 yen on Friday. The euro strengthened to $1.1138 from $1.1122.


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## bigdog

Major U.S. stock indexes closed mixed Tuesday, shedding most of their gains from earlier in the day, after a published report revealed that an interim trade deal between the U.S. and China does not remove tariffs on Chinese goods.

The benchmark S&P 500 and Nasdaq composite finished slightly off their record highs from a day earlier. The Dow Jones Industrial Average notched a slight gain. Small-company stocks rose.

Technology stocks accounted for much of the selling. The sector is particularly sensitive to developments in trade relations because many of the companies rely on China for sales and supply chains.

Investors also bid up shares in several big banks, including JPMorgan Chase and Citibank, after the companies reported surprisingly good quarterly results.

The market’s late-afternoon burst of selling came a day before the U.S. and China were due to sign a preliminary trade agreement in Washington. Optimism that the deal will bring the two economic powerhouses closer to ending the dispute threatening global economic growth has helped drive markets higher for weeks.

Still, reports suggesting that U.S. tariffs on Chinese goods will remain in place until at least after this year's election appeared to dim some investors' enthusiasm over the deal.

“Would the market be more satisfied with a reduction in those tariffs? Absolutely,” said Quincy Krosby, chief market strategist at Prudential Financial. “Nonetheless, you don't want to have an escalation in the tariff war. That was the most important thing for the market.”

The S&P 500 index fell 4.98 points, or 0.2%, to 3,283.15. The index had been up as much as 0.2% earlier. The Nasdaq slid 22.60 points, or 0.2%, to 9,251.33.

The Dow rose 32.62 points, or 0.1%, to 28,939.67. The Russell 2000 index of smaller company stocks climbed 6.14 points, or 0.4%, to 1,675.74.

The S&P/ASX 200 index looks set to edge higher on Wednesday. According to the latest SPI futures, the ASX 200 is expected to rise 5 points or 0.1% at the open.










https://www.usnews.com/news/busines...mostly-lower-on-wall-street-wells-fargo-sinks

*Stocks Cling to Tiny Gains as Investors Parse Trade Signals*
Stocks struggled to hold on to meager gains on Wall Street Tuesday as investors parsed the latest indications on trade relations between the U.S. and China as well as the first wave of quarterly earnings reports from big companies.
By Associated Press, Wire Service Content Jan. 14, 2020, at 4:53 p.m.

By ALEX VEIGA, AP Business Writer

Major U.S. stock indexes closed mixed Tuesday, shedding most of their gains from earlier in the day, after a published report revealed that an interim trade deal between the U.S. and China does not remove tariffs on Chinese goods.

The benchmark S&P 500 and Nasdaq composite finished slightly off their record highs from a day earlier. The Dow Jones Industrial Average notched a slight gain. Small-company stocks rose.

Technology stocks accounted for much of the selling. The sector is particularly sensitive to developments in trade relations because many of the companies rely on China for sales and supply chains.

Investors also bid up shares in several big banks, including JPMorgan Chase and Citibank, after the companies reported surprisingly good quarterly results.

The market’s late-afternoon burst of selling came a day before the U.S. and China were due to sign a preliminary trade agreement in Washington. Optimism that the deal will bring the two economic powerhouses closer to ending the dispute threatening global economic growth has helped drive markets higher for weeks.

Still, reports suggesting that U.S. tariffs on Chinese goods will remain in place until at least after this year's election appeared to dim some investors' enthusiasm over the deal.

“Would the market be more satisfied with a reduction in those tariffs? Absolutely,” said Quincy Krosby, chief market strategist at Prudential Financial. “Nonetheless, you don't want to have an escalation in the tariff war. That was the most important thing for the market.”

The S&P 500 index fell 4.98 points, or 0.2%, to 3,283.15. The index had been up as much as 0.2% earlier. The Nasdaq slid 22.60 points, or 0.2%, to 9,251.33.

The Dow rose 32.62 points, or 0.1%, to 28,939.67. The Russell 2000 index of smaller company stocks climbed 6.14 points, or 0.4%, to 1,675.74.

Bond prices rose. The yield on the 10-year Treasury slipped to 1.81% from 1.84% late Monday.

President Donald Trump and China's chief negotiator, Liu He, are scheduled to sign a modest trade agreement Wednesday that calls for the U.S. to ease some sanctions on China. The U.S. dropped its designation of China as a currency manipulator in advance of the signing.

Beijing, meanwhile, will step up its purchases of U.S. farm products and other goods.

While limited in its scope, investors have welcomed the deal in hopes that it will prevent further escalation in the conflict that has slowed global growth, hurt American manufacturers and weighed on the Chinese economy.

With the trade issue entering a new stage, Wall Street is focusing on the rollout of corporate earnings reports over the next few weeks.

Several large banks were among the companies that kicked off the latest earnings season on Wall Street Tuesday.

JPMorgan Chase rose 1.2% after the banking giant reported a surge in profits because of a blowout quarter from its trading desks. The earnings handily beat analysts’ forecasts. Citigroup climbed 1.6% after reporting a similar jump in profits because of its trading operations.

Wells Fargo did not fare as well. The bank's stock slumped 5.4% as its profit and revenue dropped because of hefty costs and lower interest rates. Wells Fargo is still under growth restrictions by regulators after years of missteps, beginning in 2016 with the uncovering of millions of fake checking accounts its employees opened to meet sales quotas.

Delta Air Lines rose 3.3% after the company increased its fourth-quarter profit to $1.1 billion by adding more flights over the holiday period and packing them even more full of passengers. The results beat Wall Street’s forecasts.

Delta's solid report helped lift some of its rivals. United Airlines rose 1.1% and American Airlines gained 0.5%.

Wall Street expects corporate profits for S&P 500 companies in the last three months of 2019 to be down by 2%. That would be the first time that earnings for the S&P 500 would have declined four quarters in a row since the period ending in mid-2016, according to FactSet.

Companies typically outperform forecasts and temper expectations for sharp declines by the time the bulk of financial reporting is done. Investors are more likely to focus on what management teams’ outlooks, especially with the prospect of less uncertainty over the U.S.-China trade dispute.

“What we want to hear is what companies are seeing from their own customers, what are they hearing?” said Krosby. “And are they more optimistic going into 2020?”

Nvidia led Tuesday’s slide in technology stocks. The chipmaker dropped 1.9%. Health care stocks led the gainers, receiving a big boost from Perrigo, which vaulted 12.6%.

Boston Scientific fell 6.2% after giving Wall Street a weak fourth-quarter sales update.

GameStop skidded 13.3% after the video game retail chain reported holiday sales that fell below expectations, partly due to lower demand for software and hardware. The company also said it expects challenges to continue into this year.

Benchmark crude oil rose 15 cents to settle at $58.23 a barrel. Brent crude oil, the international standard, gained 29 cents to close at $64.49 a barrel. Wholesale gasoline fell 1 cent to $1.65 per gallon. Heating oil climbed 1 cent to $1.91 per gallon. Natural gas rose 1 cent to $1.19 per 1,000 cubic feet.

Gold fell $6.00 to $1,542.40 per ounce, silver fell 25 cents to $17.67 per ounce and copper rose 2 cents to $2.88 per pound.

The dollar rose to 110.00 Japanese yen from 109.93 yen on Monday. The euro weakened to $1.1128 from $1.1138.

Stock markets in Europe closed mostly higher. Asian markets ended mixed.


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## bigdog

Stocks ended a wobbly day with modest gains, enough to send the Dow Jones Industrial Average to its first close above 29,000 points, two months after its first close above 28,000

The Dow Jones Industrial Average closed above 29,000 points for the first time and the S&P 500 index hit its second record high in three days Wednesday.

The milestones came on a day when the market traded in a narrow range as investors weighed the latest batch of corporate earnings reports and the widely anticipated signing of an initial trade deal between the U.S. and China.

President Donald Trump and China's chief negotiator, Liu He, signed the “Phase 1" deal before a group of corporate executives and reporters at the White House. The pact eases some sanctions on China. In return, Beijing has agreed to step up its purchases of U.S. farm products and other goods.

"This was telegraphed well enough that the market is kind of looking through it and toward the next phase and what that means," said Keith Buchanan, portfolio manager at Globalt Investments.

Health care stocks accounted for much of the market's gains. Utilities and makers of household goods also rose. Those gains outweighed losses in financial stocks, companies that rely on consumer spending and the energy sector.

The S&P 500 index rose 6.14 points, or 0.2%, to 3,289.29. The index also climbed to an all-time high on Monday.

The Dow gained 90.55 points, or 0.3%, to 29,030.22. The Nasdaq composite added 7.37 points, or 0.1%, to 9,258.70.

Smaller-company stocks fared better than the rest of the market. The Russell 2000 picked up 6.66 points, or 0-4%, to 1,682.40.

The benchmark S&P 500 index is on track for its second straight weekly gain.

The S&P/ASX 200 index looks set to push higher and break through the 7,000 points mark on Thursday. According to the latest SPI futures, the ASX 200 is expected to rise 18 points or 0.25% at the open.











https://www.usnews.com/news/busines...s-rise-ahead-of-signing-of-phase-1-trade-deal

*Slight Gains Send Dow Jones Industrial Average Above 29,000*
Stocks ended a wobbly day with modest gains, enough to send the Dow Jones Industrial Average to its first close above 29,000 points, two months after its first close above 28,000.
By Associated Press, Wire Service Content Jan. 15, 2020, at 4:54 p.m. 

By ALEX VEIGA, AP Business Writer

The Dow Jones Industrial Average closed above 29,000 points for the first time and the S&P 500 index hit its second record high in three days Wednesday.

The milestones came on a day when the market traded in a narrow range as investors weighed the latest batch of corporate earnings reports and the widely anticipated signing of an initial trade deal between the U.S. and China.

President Donald Trump and China's chief negotiator, Liu He, signed the “Phase 1" deal before a group of corporate executives and reporters at the White House. The pact eases some sanctions on China. In return, Beijing has agreed to step up its purchases of U.S. farm products and other goods.

"This was telegraphed well enough that the market is kind of looking through it and toward the next phase and what that means," said Keith Buchanan, portfolio manager at Globalt Investments.

Health care stocks accounted for much of the market's gains. Utilities and makers of household goods also rose. Those gains outweighed losses in financial stocks, companies that rely on consumer spending and the energy sector.

The S&P 500 index rose 6.14 points, or 0.2%, to 3,289.29. The index also climbed to an all-time high on Monday.

The Dow gained 90.55 points, or 0.3%, to 29,030.22. The Nasdaq composite added 7.37 points, or 0.1%, to 9,258.70.

Smaller-company stocks fared better than the rest of the market. The Russell 2000 picked up 6.66 points, or 0-4%, to 1,682.40.

The benchmark S&P 500 index is on track for its second straight weekly gain.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.78% from 1.81% late Tuesday.

While limited in its scope, investors have welcomed the U.S.-China deal in hopes that it will prevent further escalation in the 18-month long trade conflict that has slowed global growth, hurt American manufacturers and weighed on the Chinese economy. The world's two largest economies will now have to deal with more contentious trade issues as they move ahead with negotiations. And punitive tariffs will remain on about $360 billion in Chinese goods as talks continue.

With the "Phase 1" agreement now a done deal, investors have more reason to focus on the rollout of corporate earnings reports over the next few weeks. Earnings have been flat to down for the last three quarters, and if the fourth quarter meets expectations, it should be around the same.

However, analysts are projecting 2020 corporate earnings growth to jump around 9.5%, which is why traders will be listening this earnings reporting season for any clues management teams give about their business prospects in coming months.

"We're expecting a reacceleration in the back end of the year, so any (company) guidance that brings any type of skepticism to that could threaten the recent rally we've had and the gains that we've accrued in the past few months," Buchanan said.

Health care stocks powered much of the market's gains Wednesday. Several health insurers climbed as investors cheered a solid fourth-quarter earnings report from UnitedHealth Group.

The nation's largest health insurer, which covers more than 49 million people, said its revenue rose 4% on a mix of insurance premiums and growth from urgent care and surgery centers. Its stock rose 2.8%. Other health insurers also moved higher. Anthem gained 1.6%, Cigna added 1.5% and Humana climbed 1.9%.

Technology companies also rose. The sector is reliant on China for sales and supply chains and benefits from better trade relations. Microsoft gained 0.7% and Advanced Micro Devices gained 0.8%.

Utilities and consumer staples sector stocks also notched gains. Edison International climbed 2.5% and PepsiCo rose 1.7%.

Financial stocks fell the most. Bank of America slid 1.8% after reporting weaker profits due to the rapid decline of interest rates in late 2019.

Energy stocks also fell along with the price of crude oil. Valero Energy dropped 3.3%.

Homebuilders marched broadly higher on news that U.S. home loan applications surged 30.2% last week from a week earlier. The pickup in mortgage applications reflects heightened demand for homes and suggests many buyers are eager to purchase a home now, rather than waiting for the traditional late-February start of the spring homebuying season. Hovnanian Enterprises jumped 6.4%.

Target slumped 6.6% after a disappointing holiday shopping season prompted the retailer to cut its forecast for a key sales measure in the fourth quarter. The company said weak sales of electronics, toys and home goods crimped sales growth to just 1.4% in November and December.

Benchmark crude oil fell 42 cents to settle at $57.81 a barrel. Brent crude oil, the international standard, dropped 49 cents to close at $64 a barrel.

Wholesale gasoline fell 1 cent to $1.64 per gallon. Heating oil declined 3 cents to $1.88 per gallon. Natural gas fell 7 cents to $2.12 per 1,000 cubic feet.

Gold rose $9.70 to $1,552.10 per ounce, silver rose 25 cents to $17.92 per ounce and copper fell 1 cent to $2.87 per pound.

The dollar fell to 109.91 Japanese yen from 110.00 yen on Tuesday. The euro strengthened to $1.1150 from $1.1128.

Markets in Europe closed mostly lower.


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## bigdog

Another rally on Wall Street powered stock indexes to more records Thursday.

The S&P 500, Dow Jones Industrial Average and Nasdaq composite notched all-time highs, extending the market's gains after a strong start to the year.

A batch of solid economic data injected more optimism into markets a day after the signing of an initial trade deal between the U.S. and China.

Consumers have been the backbone of economic growth and the government’s December report on retail sales showed that they continued spending at a healthy pace. Encouraging reports on manufacturing, weekly applications for unemployment aid and homebuilders' confidence also helped lift the market. Investors also weighed a mixed bag of corporate earnings.

The good economic news follows the signing of the “Phase 1” trade deal between the U.S. and China that puts the nations on a clearer path to ending their 18-month long trade war. The pact eases some sanctions on China, which has agreed to step up its purchases of U.S. farm products and other goods.

Meanwhile, the Senate approved a new North American trade agreement Thursday that rewrites the rules of commerce with Canada and Mexico.

The trade deals and positive economic data have helped fuel optimism that corporate profits will be strong this year after coming in flat to down for most of 2019, and that's keeping investors in a buying mood.

“Because we are continuing to see 2-2.5% GDP growth in the U.S., because both economic growth and earnings are expected to show gains in both the developed and emerging markets, that will likely lead to better earnings here in the U.S.,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 index climbed 27.52 points, or 0.8%, to 3,316.81. The index also set all-time highs on Monday and Wednesday.

The Dow rose 267.42 points, or 0.9%, to 29,297.64. The Dow closed above 29,000 for the first time on Wednesday. Stovall said it's possible we could see the Dow hit 30,000 this year.

"Because of expectations that we are probably underestimating economic and earnings growth, as a result that 30,000-level will be seen," he said.

The Nasdaq gained 98.44 points, or 1.1%, to 9,357.13.

The S&P/ASX 200 index looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to rise 26 points or 0.4% at the open.










https://www.usnews.com/news/busines...broadly-higher-on-wall-street-adding-to-gains

*Stock Indexes Rally to More Record Highs, Led by Tech Gains*
Stocks are closing broadly higher on Wall Street, pushing major indexes to more record highs.
By Associated Press, Wire Service Content Jan. 16, 2020, at 5:01 p.m. 

By ALEX VEIGA, AP Business Writer

Another rally on Wall Street powered stock indexes to more records Thursday.

The S&P 500, Dow Jones Industrial Average and Nasdaq composite notched all-time highs, extending the market's gains after a strong start to the year.

A batch of solid economic data injected more optimism into markets a day after the signing of an initial trade deal between the U.S. and China.

Consumers have been the backbone of economic growth and the government’s December report on retail sales showed that they continued spending at a healthy pace. Encouraging reports on manufacturing, weekly applications for unemployment aid and homebuilders' confidence also helped lift the market. Investors also weighed a mixed bag of corporate earnings.

The good economic news follows the signing of the “Phase 1” trade deal between the U.S. and China that puts the nations on a clearer path to ending their 18-month long trade war. The pact eases some sanctions on China, which has agreed to step up its purchases of U.S. farm products and other goods.

Meanwhile, the Senate approved a new North American trade agreement Thursday that rewrites the rules of commerce with Canada and Mexico.

The trade deals and positive economic data have helped fuel optimism that corporate profits will be strong this year after coming in flat to down for most of 2019, and that's keeping investors in a buying mood.

“Because we are continuing to see 2-2.5% GDP growth in the U.S., because both economic growth and earnings are expected to show gains in both the developed and emerging markets, that will likely lead to better earnings here in the U.S.,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 index climbed 27.52 points, or 0.8%, to 3,316.81. The index also set all-time highs on Monday and Wednesday.

The Dow rose 267.42 points, or 0.9%, to 29,297.64. The Dow closed above 29,000 for the first time on Wednesday. Stovall said it's possible we could see the Dow hit 30,000 this year.

"Because of expectations that we are probably underestimating economic and earnings growth, as a result that 30,000-level will be seen," he said.

The Nasdaq gained 98.44 points, or 1.1%, to 9,357.13.

Smaller-company stocks fared better than the rest of the market. The Russell 2000 index rose 22.82 points, or 1.4%, to 1,705.22.

The market's record-setting rally has the benchmark S&P 500 on track to close out the week with its second straight weekly gain.

Bond prices fell, sending yields higher. The yield on the 10-year Treasury rose to 1.80% from 1.78% late Wednesday.

Technology companies were the clear leaders Thursday. Many of the companies stand to benefit from progress in trade relations because they are reliant on China for sales and supplies. Microsoft rose 1.8% and Cisco Systems gained 2.2%.

A mix of retailers and consumer product makers also made solid gains. Home Depot rose 1.9% and Hanesbrands gained 2%.

Financial companies, including banks, also rose. Morgan Stanley led the sector after reporting quarterly results that topped Wall Street's forecasts.

Energy, materials and utilities companies lagged the market in another sign that investors were confidently shifting more money into riskier holdings.

The first heavy week of corporate earnings reports rolled along Thursday with banks mostly finishing their reporting. Investment bank Morgan Stanley climbed 6.6% after reporting a surprisingly good jump in fourth-quarter profits on the strength of its trading desks. Bank of New York Mellon dropped 7.8% after reporting disappointing revenue.

Paint and coatings maker PPG Industries slid 2.5% after falling short of Wall Street's profit forecasts. Aluminum producer Alcoa tumbled 11.9% after reporting a surprisingly sharp loss.

While only small slice of the S&P 500 companies have reported quarterly results so far, management teams have been giving a mostly improved earnings outlook, Stovall noted.

Wall Street expects S&P 500 companies' corporate profits for the last three months of 2019 will be down by 1.7%. That would mark the first time companies in the benchmark index would post declining earnings four quarters in a row since the period ending in mid-2016, according to FactSet. Companies typically outperform forecasts and temper expectations for sharp declines by the time the bulk of financial reporting is done.

Traders are focusing mainly on companies' outlooks for growth this year after posting flat-to-down earnings through the first three quarters of 2019.

Companies' earnings growth was limited last year due to uncertainty over U.S. trade conflicts and jitters amid signs that the global economy was slowing. The bar for companies to exceed their prior year quarterly results also was unusually high, as the Trump administration's sweeping corporate tax cuts helped power 2018 company earnings sharply higher.

"A lot of people are assuming that the 2020 (earnings) growth of 7.9% will be revised substantially higher," Stovall said, noting that earnings growth expectations this year are higher for small caps stocks than they are for large caps. That's one reason why smaller-company stocks outperformed the broader market Thursday.

Traders bid up shares in Signet Jewelers sharply higher after the diamond jewelry retailer significantly raised its fourth-quarter profit forecast. The company made the change because a strong holiday shopping season that will push a key sales measure to a big gain for the quarter. The stock vaulted 40.2%.

Benchmark crude oil rose 71 cents to settle at $58.52 a barrel. Brent crude oil, the international standard, gained 62 cents to close at $64.62 a barrel.

Wholesale gasoline rose 1 cent to $1.65 per gallon. Heating oil declined 2 cents to $1.86 per gallon. Natural gas fell 4 cents to $2.08 per 1,000 cubic feet.

Gold fell $3.10 to $1,549.00 per ounce, silver fell 4 cents to $17.88 per ounce and copper fell 2 cents to $2.85 per pound.

The dollar rose to 110.13 Japanese yen from 109.91 yen on Wednesday. The euro weakened to $1.1135 from $1.1150.

Markets in Europe closed mostly higher.


----------



## bigdog

Wall Street capped a milestone-setting week Friday with a few more as modest gains nudged the major stock indexes to all-time highs.

The benchmark S&P 500 index also notched its second-straight weekly gain.

Technology stocks powered much of the market's broad gains, along with communication services companies and banks. Energy sector stocks were the only decliners. Bond prices fell, sending yields higher.

Investors welcomed more strong quarterly results from banks. A report showing a December surge in new home construction, meanwhile, provided the latest encouraging snapshot on the U.S. economy. A solid retail sales report on Thursday revealed consumers are still spending at a healthy pace.

The latest batch of positive corporate earnings reports and ecomonic data helped keep investors in a buying mood after the midweek signing of an initial trade deal by the U.S. and China. Progress on trade has eased fears on Wall Street about the potential for the dispute to escalate further.

"The markets have responded really to one thing and that's trade headlines, and that continues," said Nela Richardson, investment strategist at Edward Jones. "But the economic data that underlies some of that momentum, not all of it, is pretty persistent. The fact that we're seeing housing solidly make a corner turn into health is good for 2020."

The S&P 500 index rose 12.81 points, or 0.4%, to 3,329.62. The benchmark index also set all-time highs on Monday, Wednesday and Thursday.

The Dow Jones Industrial Average gained 50.46 points, or 0.2%, to 29,348.10. The Nasdaq added 31.81 points, or 0.3%, to 9,388.94.

The Russell 2000 index of smaller company stocks dropped 5.58 points, or 0.3%, to 1,699.64.

*U.S. stock markets will be closed on Monday in observance of the Martin Luther King Jr. holiday.*


















.
https://www.usnews.com/news/busines...n-wall-street-add-to-strong-start-to-the-year

*Tech, Communications Stocks Push US Indexes to More Records*
Solid gains in technology and communications stocks pushed major U.S. indexes to more record highs on Wall Street Friday.
By Associated Press, Wire Service Content Jan. 17, 2020, at 5:05 p.m.

By ALEX VEIGA, AP Business Writer

Wall Street capped a milestone-setting week Friday with a few more as modest gains nudged the major stock indexes to all-time highs.

The benchmark S&P 500 index also notched its second-straight weekly gain.

Technology stocks powered much of the market's broad gains, along with communication services companies and banks. Energy sector stocks were the only decliners. Bond prices fell, sending yields higher.

Investors welcomed more strong quarterly results from banks. A report showing a December surge in new home construction, meanwhile, provided the latest encouraging snapshot on the U.S. economy. A solid retail sales report on Thursday revealed consumers are still spending at a healthy pace.

The latest batch of positive corporate earnings reports and ecomonic data helped keep investors in a buying mood after the midweek signing of an initial trade deal by the U.S. and China. Progress on trade has eased fears on Wall Street about the potential for the dispute to escalate further.

"The markets have responded really to one thing and that's trade headlines, and that continues," said Nela Richardson, investment strategist at Edward Jones. "But the economic data that underlies some of that momentum, not all of it, is pretty persistent. The fact that we're seeing housing solidly make a corner turn into health is good for 2020."

The S&P 500 index rose 12.81 points, or 0.4%, to 3,329.62. The benchmark index also set all-time highs on Monday, Wednesday and Thursday.

The Dow Jones Industrial Average gained 50.46 points, or 0.2%, to 29,348.10. The Nasdaq added 31.81 points, or 0.3%, to 9,388.94.

The Russell 2000 index of smaller company stocks dropped 5.58 points, or 0.3%, to 1,699.64.

Markets in Europe and Asia finished higher.

Bond prices fell, pushing yields higher. The yield on the 10-year Treasury rose to 1.82% from 1.8% late Thursday.

Financial markets are solidly higher just a few weeks into 2020 as trade disputes quiet down and the economic picture remains bright.

The S&P 500 is up 3.1% so far this year and technology stocks are once again leading the way with a gain of 5.9%. The index finished 2019 with a sharp 28.9% gain on a surge from the technology sector.

This week's signing of a "Phase 1" trade deal has raised hopes on Wall Street that China and the U.S. will avoid any further escalations as they continue talking. U.S. election concerns and the ongoing impeachment of President Donald Trump have been both largely ignored by Wall Street, so far.

Still, the possibility that U.S. trade tensions could heat up again, whether against China or the European Union, and the U.S. presidential election, could result in heightened volatility for stocks this year, Richardson said.

"It's likely that we'll see some dips and volatility in the market," Richardson said. "When those occur in the context of solid economic fundamentals and earnings growth, what we're telling our clients is to buy that dip, because we think share prices will rebound, but we do think the path forward for share prices is rocky this year."

Chipmaker Qualcomm led technology sector stocks higher Friday, climbing 4.5%.

Communications companies also rose. Google parent company Alphabet rose 2% a day after becoming the latest tech giant to cross the $1 trillion valuation mark, joining Apple and Microsoft. Comcast gained 1.3% after its NBCUniversal unit launched a video streaming service, Peacock.

Citizens Financial led financial sector stocks higher, rising 3.2%. State Street rose 1.8%.

Several homebuilders rose after the Commerce Department said that construction of new homes surged in December to the highest level in 13 years. The strong finish caps a year in which falling mortgage rates and a strong labor market helped lift the prospects of the housing industry. Hovnanian Enterprises led builders higher, climbing 2.5%.

Gap fell 0.4% after the retailer cancelled plans to spin off its Old Navy brand, saying the move would be too costly. It also said the president and CEO of the Gap brand, Neil Fiske, is stepping down.

Major shipping companies struggled in the fourth quarter because of costs and restrictions tied to the ongoing U.S.-China trade war and slower global economic growth.

Expeditors International of Washington fell 5.6% after the company warned investors about a weak fourth quarter. JB Hunt Transport Services dropped 4.2% after reporting disappointing fourth-quarter profits.

Investors bid shares in Tailored Brands 4.2% higher on news the owner of Men's Wearhouse is selling its Joseph Abboud trademarks to WHP Global for $115 million.

Benchmark crude oil rose 2 cents to settle at $58.54 a barrel. Brent crude oil, the international standard, gained 23 cents to close at $64.85 a barrel. Wholesale gasoline fell 1 cent to $1.64 per gallon. Heating oil declined 1 cent to $1.86 per gallon. Natural gas fell 7 cents to $2.00 per 1,000 cubic feet.

Gold rose $9.80 to $1,558.80 per ounce, silver rose 13 cents to $18.01 per ounce and copper was unchanged at 2.85 per pound.

The dollar rose to 110.14 Japanese yen from 110.13 yen on Thursday. The euro weakened to $1.1093 from $1.1135.

U.S. stock markets will be closed on Monday in observance of the Martin Luther King Jr. holiday.

676


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## bigdog

Stock markets were trading in narrow ranges Monday as investors awaited central bank decisions and earnings reports due out in coming weeks. U.S. stock markets will be closed in observance of the Martin Luther King Jr. holiday.

In Europe, France's CAC 40 declined 0.2% to 6,089, while Germany's DAX edged up 0.1% to 13,541. Britain's FTSE 100 dropped 0.3% to 7,654.

Japan's benchmark Nikkei 225 edged 0.2% higher to close at 24,083.51, while Australia's S&P/ASX 200 added 0.2% to 7,079.50. South Korea's Kospi rose 0.5% to 2,262.64, while Hong Kong's Hang Seng lost 0.9% to 28,800.63. The Shanghai Composite index gained 0.7% to 3,095.79.

China's central bank left its one-year loan prime rate unchanged at 4.15%, holding off on easing credit further as it uses other methods to pump up liquidity in the markets ahead of the Lunar New Year.

The S&P/ASX 200 index looks set to continue its solid run on Tuesday. According to the latest SPI futures, the ASX 200 is poised to rise 5 points or 0.1% at the open.

*U.S. stock markets were closed in observance of the Martin Luther King Jr. holiday.*





*Rest of world trading:*





https://www.usnews.com/news/busines...-mostly-higher-before-central-banks-decisions

*World Shares Mixed Ahead of Central Bank Decisions*
Shares are mixed in Europe and Asia as investors await central bank decisions and earnings reports.
By Associated Press, Wire Service Content Jan. 20, 2020, at 7:18 a.m

By YURI KAGEYAMA, AP Business Writer

TOKYO (AP) — Stock markets were trading in narrow ranges Monday as investors awaited central bank decisions and earnings reports due out in coming weeks. U.S. stock markets will be closed in observance of the Martin Luther King Jr. holiday.

In Europe, France's CAC 40 declined 0.2% to 6,089, while Germany's DAX edged up 0.1% to 13,541. Britain's FTSE 100 dropped 0.3% to 7,654.

Japan's benchmark Nikkei 225 edged 0.2% higher to close at 24,083.51, while Australia's S&P/ASX 200 added 0.2% to 7,079.50. South Korea's Kospi rose 0.5% to 2,262.64, while Hong Kong's Hang Seng lost 0.9% to 28,800.63. The Shanghai Composite index gained 0.7% to 3,095.79.

China's central bank left its one-year loan prime rate unchanged at 4.15%, holding off on easing credit further as it uses other methods to pump up liquidity in the markets ahead of the Lunar New Year.

The rate, based on quotes from major banks, was made China's benchmark in August. The People's Bank of China can indirectly influence it through it's own interest rate decisions, and “appears to have adopted a wait-and-see approach in response to the recent improvement in the economic data," Julian Evans-Pritchard of Capital Economics said in a commentary.

However, “with growth likely to come under renewed pressure, we think the PBOC will resume its rate cuts before long," he said.

Elsewhere, investors are looking to a statement from the Bank of Japan when its two-day policy meeting ends on Tuesday. The European central bank will make an interest rate decision later in the week. Markets are also watching for earnings reports expected in coming weeks by companies around the world.

On Friday, Wall Street capped a milestone-setting week with more modest gains that nudged the major stock indexes to all-time highs.

The benchmark S&P 500 index also notched its second-straight weekly gain.

Technology stocks powered much of the market's broad gains, along with communication services companies and banks. Energy sector stocks were the only decliners. Bond prices fell, sending yields higher.

The latest batch of positive corporate earnings reports and economic data has helped keep investors in a buying mood after the midweek signing of an initial trade deal by the U.S. and China. Progress on trade has eased fears on Wall Street about the potential for the dispute to escalate further.

ENERGY: Benchmark crude oil rose 3 2 cents to $58.86 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude oil, the international standard, gained 45 cents to $65.30 a barrel.

CURRENCIES: The dollar rose to 110.18 Japanese yen from 110.13 yen on Friday. The euro slipped to $1.1084 from $1.1191.


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## bigdog

Banks led a slide in U.S. stocks Tuesday as a virus outbreak in China rattled global markets, prompting investors to shift assets into bonds and defensive sector companies.

The sell-off snapped a three-day winning streak by the S&P 500. The benchmark index ended last week at an all-time high.

The selling in U.S. stocks followed losses in Asian and European markets as investors worried that the new coronavirus spreading in the world’s second-largest economy could hurt tourism and ultimately economic growth and corporate profits.

Six people have died, and 291 have been infected in China, just as people in the country were preparing to make billions of trips for the Lunar New Year travel season. And a U.S. citizen who recently returned from China was diagnosed with the new virus in the Seattle area, making the United States the fifth country to report a case, following China, Thailand, Japan and South Korea.

Within the S&P 500, stocks of U.S. companies that cater to Chinese tourists had some of the biggest losses, along with general travel companies, such as casinos and airlines. Along with banks, industrial and energy stocks accounted for a big share of the selling. Those losses outweighed gains in real estate stocks, utilities and household goods makers. Traders also shifted money into U.S. government bonds, sending yields lower.

“From an investment standpoint, the risk with any virus is in the scope of its economic impact, and the mere fact that this has spread from China overnight to the U.S. so quickly reinforces the idea that the negative fallout could be global rather than local,” said Alec Young, managing director of Global Markets Research for FTSE Russell.

The S&P 500 fell 8.83 points, or 0.3%, to 3,320.70. It had been down as much as 0.4% earlier in the day.

The Dow Jones Industrial Average lost 152.06 points, or 0.5%, to 29,196.04. The Nasdaq composite slid 18.14 points, or 0.2%, to 9,370.81.

Smaller-company stocks took the brunt of the selling. The Russell 2000 index lost 13.74 points, or 0.8%, to 1,685.90.

The S&P/ASX 200 index is poised to edge higher this morning. According to the latest SPI futures, the ASX 200 is poised to rise 9 points or 0.1% at the open.










https://www.usnews.com/news/busines...t-slides-on-growing-concern-about-china-virus

*US Stocks Close Lower Amid Jitters Over Virus Outbreak*
Banks led a slide in U.S. stocks Tuesday as a virus outbreak in China rattled global markets, prompting investors to shift assets into bonds and defensive sector companies.
By Associated Press, Wire Service Content Jan. 21, 2020, at 4:59 p.m. 

By ALEX VEIGA and STAN CHOE, AP Business Writers

Banks led a slide in U.S. stocks Tuesday as a virus outbreak in China rattled global markets, prompting investors to shift assets into bonds and defensive sector companies.

The sell-off snapped a three-day winning streak by the S&P 500. The benchmark index ended last week at an all-time high.

The selling in U.S. stocks followed losses in Asian and European markets as investors worried that the new coronavirus spreading in the world’s second-largest economy could hurt tourism and ultimately economic growth and corporate profits.

Six people have died, and 291 have been infected in China, just as people in the country were preparing to make billions of trips for the Lunar New Year travel season. And a U.S. citizen who recently returned from China was diagnosed with the new virus in the Seattle area, making the United States the fifth country to report a case, following China, Thailand, Japan and South Korea.

Within the S&P 500, stocks of U.S. companies that cater to Chinese tourists had some of the biggest losses, along with general travel companies, such as casinos and airlines. Along with banks, industrial and energy stocks accounted for a big share of the selling. Those losses outweighed gains in real estate stocks, utilities and household goods makers. Traders also shifted money into U.S. government bonds, sending yields lower.

“From an investment standpoint, the risk with any virus is in the scope of its economic impact, and the mere fact that this has spread from China overnight to the U.S. so quickly reinforces the idea that the negative fallout could be global rather than local,” said Alec Young, managing director of Global Markets Research for FTSE Russell.

The S&P 500 fell 8.83 points, or 0.3%, to 3,320.70. It had been down as much as 0.4% earlier in the day.

The Dow Jones Industrial Average lost 152.06 points, or 0.5%, to 29,196.04. The Nasdaq composite slid 18.14 points, or 0.2%, to 9,370.81.

Smaller-company stocks took the brunt of the selling. The Russell 2000 index lost 13.74 points, or 0.8%, to 1,685.90.

The selling began early in the first trading day of a holiday shortened week and followed sell-offs overnight in Asian markets and downbeat trading in Europe. China confirmed many people’s fears late Monday when a government expert said that the new type of coronavirus affecting the country can transmit from human to human, increasing its potential spread.

The outbreak “is developing into a major potential economic risk to the Asia-Pacific region,” said Rajiv Biswas of IHS Markit in a report.

Biswas pointed to the example of the 2003 outbreak of severe acute respiratory syndrome, whose economic impact was felt as far away as Canada and Australia.

To cope, investors were looking at playbooks for past outbreaks, such as SARS in 2002-2003, where airlines, railways and other transportation companies saw their stocks slide the most, followed by retailers and hospitality companies, according to strategists at Jefferies.

Las Vegas Sands fell 5.4% and Wynn Resorts tumbled 6.1% for two of the largest losses in the S&P 500. Both casino companies get most of their revenue from Macau on China’s southern coast.

Other travel companies also slumped on worries that customers may stay away due to virus fears. Royal Caribbean Cruises fell 4%, United Airlines lost 4.4%, and Booking Holdings dropped 3.1%.

Investors sought the safety of bonds, driving yields sharply lower. The yield on the 10-year Treasury note fell to 1.77% from 1.83% late Friday. That helped lift shares in homebuilders broadly higher, as a decline in the 10-year Treasury yield tends to pull mortgage rates lower. D.R. Horton climbed 2.3%.

Real estate investment trusts and utilities stocks rose as the decline in bond yields made dividend-paying stocks more attractive to income investors. American Tower rose 1.4%, while Edison International gained 1.6%.

Headlines about the spreading coronavirus gave investors an excuse to take profits following the market's recent record-setting run. The benchmark S&P 500 hasn't had a single-day drop of more than 1% since October.

“Investors have shown a lot of optimism, and that might make some a little bit skittish," said Willie Delwiche, investment strategist at Baird. ”Valuations are elevated. In this sort of environment, I don't think it takes much of a headline to trigger a reaction."

Tuesday’s drop for the S&P 500 index follows a strong run for the market. Fears of a possible recession have faded, and investors expect the Federal Reserve to keep interest rates low, and the S&P 500 has risen in 13 of the last 15 weeks.

U.S. companies are in the midst of reporting their earnings results for the last three months of 2019, and early indications are encouraging. Less than a tenth of S&P 500 companies have reported their results so far, but of them, 72% topped analysts’ forecasts for profits. Those forecasts were low, to be sure, with analysts saying S&P 500 profits fell last quarter for the fourth consecutive time, according to FactSet.

Boeing shares slid 3.3% after the aircraft manufacturer said that it doesn't expect federal regulators to approve changes to the grounded 737 Max until this summer — several months longer than the company was saying just a few weeks ago.

Benchmark U.S. crude fell 20 cents to settle at $58.34 a barrel. Brent crude, the international standard, dropped 61 cents to close at $64.59 a barrel.

Wholesale gasoline was unchanged at $1.64 per gallon, while heating oil declined 2 cents to $1.83 per gallon.

Natural gas slumped 10 cents, or 5.4%, to $1.90 per 1,000 cubic feet. The sharp drop weighed on energy sector stocks. Cabot Oil & Gas, which gets most of its revenue from gas, led the slide, losing 7.8%. It was also the biggest decliner in the S&P 500.

Gold fell $2.40 to $1,556.40 per ounce, silver fell 26 cents to $17.75 per ounce and copper fell 5 cents to $2.80 per pound.

The dollar fell to 109.81 Japanese yen from 110.17 yen on Monday. The euro strengthened to $1.1095 from $1.1092.


----------



## bigdog

Major U.S. stock indexes ended little changed Wednesday after an early rebound rally faded in the final minutes of trading.

The S&P 500 and Nasdaq composite eked out tiny gains, while the Dow Jones Industrial Average finished slightly lower. Gains in technology, financial and health care stocks outweighed losses in industrial, energy, real estate and other sectors.

Investors had their eye on an international effort by health authorities to monitor and contain a deadly virus outbreak in China that has spread to the U.S. and three other countries.

China and other nations ramped up screenings for fever on aircraft and at airports. The measures appeared to provide some reassurance to Wall Street a day after financial markets sold off over fears that the outbreak in the world's second-largest economy could spread, hurting tourism and ultimately economic growth and corporate profits.

“The coronavirus fear that permeated stocks yesterday has subsided some, and you see some of those stocks that were affected negatively yesterday rebounding,” said Keith Buchanan, portfolio manager at Globalt Investments.

The S&P 500 index rose 0.96 points, or less than 0.1%, to 3,321.75. The index had been up by as much as 0.5% earlier in the day.

The Dow Jones Industrial Average reversed an early gain and fell 9.77 points, or less than 0.1%, to 29,186.27.

The Nasdaq composite gained 12.96 points, or 0.1%, to 9,383.77. The Russell 2000 index of smaller company stocks slipped 1.44 points, or 0.1%, to 1,684.46.

It looks set to be a disappointing day of trade for the S&P/ASX 200 index. According to the latest SPI futures, the ASX 200 is expected to fall 24 points or 0.35% at the open.










https://www.newser.com/article/a5c5...-health-authorities-focus-on-china-virus.html

*US stocks flat as health authorities focus on China virus *
By ALEX VEIGA, Associated Press
12 minutes ago 

Major U.S. stock indexes ended little changed Wednesday after an early rebound rally faded in the final minutes of trading.

The S&P 500 and Nasdaq composite eked out tiny gains, while the Dow Jones Industrial Average finished slightly lower. Gains in technology, financial and health care stocks outweighed losses in industrial, energy, real estate and other sectors.

Investors had their eye on an international effort by health authorities to monitor and contain a deadly virus outbreak in China that has spread to the U.S. and three other countries.

China and other nations ramped up screenings for fever on aircraft and at airports. The measures appeared to provide some reassurance to Wall Street a day after financial markets sold off over fears that the outbreak in the world's second-largest economy could spread, hurting tourism and ultimately economic growth and corporate profits.

“The coronavirus fear that permeated stocks yesterday has subsided some, and you see some of those stocks that were affected negatively yesterday rebounding,” said Keith Buchanan, portfolio manager at Globalt Investments.

The S&P 500 index rose 0.96 points, or less than 0.1%, to 3,321.75. The index had been up by as much as 0.5% earlier in the day.

The Dow Jones Industrial Average reversed an early gain and fell 9.77 points, or less than 0.1%, to 29,186.27.

The Nasdaq composite gained 12.96 points, or 0.1%, to 9,383.77. The Russell 2000 index of smaller company stocks slipped 1.44 points, or 0.1%, to 1,684.46.

Bond prices fell. The 10-year Treasury yield rose to 1.77% from 1.76% late Tuesday.

The coronavirus has been confirmed in five countries, including China, the U.S., Thailand, Japan and South Korea. As of Wednesday, more than 500 people were confirmed infected with the virus and 17 had died from the illness, which can cause pneumonia and other severe respiratory symptoms.

A World Health Organization committee was scheduled to meet for a second day Thursday as it decides whether to declare the outbreak a global health emergency.

IBM was among the big gainers in the technology sector Wednesday after the company reported surprisingly strong results for the fourth quarter and issued a solid profit forecast for 2020. The stock climbed 3.4%.

Capital One Financial gained 4.5% after the credit card issuer and bank reported surprisingly good fourth-quarter earnings.

Netflix dropped 3.6% after the entertainment company gave investors a weak forecast for new subscribers during the first quarter. The company is facing tougher competition from Disney, Apple and others. It warned investors that it is seeing more U.S. customers dropping the service.

Navient jumped 9.5% after the student loan company's latest quarterly results topped analysts’ forecasts.

While only about 10% of S&P 500 companies have reported their results for the last three months of 2019, early indications are encouraging. Of those companies that have reported results, 78.4% topped analysts’ forecasts for profits, according to S&P Global Market Intelligence.

Those forecasts were low, to be sure, with analysts saying S&P 500 profits fell last quarter for the fourth consecutive time, according to FactSet.

Traders also bid up shares in homebuilders Wednesday following new data showing that U.S. home sales climbed 3.6% last month. The National Association of Realtors said that sales of previously occupied homes rose in December to a seasonally adjusted annual rate of 5.54 million.

For all of 2019, 5.34 million homes were sold — matching the 2018 level. High mortgage rates hurt sales in the first half of the last year, while lower rates boosted purchases in the second half. Hovnanian Enterprises led the homebuilder rally, gaining 2.5%.

Investors continued to drive Tesla shares higher. The electric vehicle and solar panel maker climbed 4.1%, attaining a $100 billion market capitalization for the first time. That market cap could turn into a supercharged payday for CEO Elon Musk, enabling him to receive a stock option package that’s worth close to $400 million.

Benchmark crude oil fell $1.64 to settle at $56.74 a barrel. Brent crude oil, the international standard, slid $1.38 to close at $63.21 a barrel.

Wholesale gasoline fell 6 cents to $1.58 per gallon. Heating oil declined 3 cents to $1.80 per gallon. Natural gas rose 1 cent to $1.91 per 1,000 cubic feet.

Gold fell $1.10 to $1,555.30 per ounce, silver rose 2 cents to $17.77 per ounce and copper fell 3 cents to $2.77 per pound.

The dollar rose to 109.89 Japanese yen from 109.81 yen on Tuesday. The euro weakened to $1.1092 from $1.1095.

European markets closed broadly lower. Asian markets finished higher.

AP Business Writer Damian J. Troise contributed.


----------



## bigdog

Major U.S. stock indexes closed mostly higher Thursday, as gains in technology and industrial companies offset declines elsewhere in the market.

The S&P 500 notched a small gain for the second straight day, while a modest pickup nudged the Nasdaq composite to an all-time high. The Dow Jones Industrial Average closed lower for the third day in a row, weighed down by a steep drop in shares of Travelers Cos. Bond prices rose, sending yields lower.

Trading was choppy for much of the day following a sell-off in Asia, where concern about the potential impact of a deadly new virus outbreak dragged stock indexes in China sharply lower. Fears that the coronavirus could spread, dampening tourism and economic growth, has weighed on global markets this week, driving up demand for U.S. government bonds and safe-play stocks.

Traders also had their eye on a mixed batch of company earnings reports, including encouraging quarterly results from American Airlines and Citrix Systems, and disappointing report cards from Travelers and Raymond James Financial.

“Today was driven a bit by earnings, but also by the coronavirus fears,” said J.J. Kinahan, chief strategist with TD Ameritrade. “Asian markets had a really tough night and that was our lead-in, that put a bit of extra pressure on the market coming in.”

The S&P 500 index inched up 3.79 points, or 0.1%, to 3,325.54. The index had been down as much as 0.6% earlier in the day.

The Dow fell 26.18 points, or 0.1%, to 29,160.09. The Nasdaq gained 18.71 points, or 0.2%, to 9,402.48. The index, which is heavily weighted with technology stocks, previously hit a record high last Friday.

The Russell 2000 index of smaller company stocks rose 0.55 points, or less than 0.1%, to 1,685.01.

The S&P/ASX 200 index looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to rise 20 points or 0.3% at the open.










https://apnews.com/a6ff9407e2fc374ae45eb8ec7ac97448

*U.S. stocks close mostly higher, led by tech, industrials*
By ALEX VEIGA2 minutes ago

Major U.S. stock indexes closed mostly higher Thursday, as gains in technology and industrial companies offset declines elsewhere in the market.

The S&P 500 notched a small gain for the second straight day, while a modest pickup nudged the Nasdaq composite to an all-time high. The Dow Jones Industrial Average closed lower for the third day in a row, weighed down by a steep drop in shares of Travelers Cos. Bond prices rose, sending yields lower.

Trading was choppy for much of the day following a sell-off in Asia, where concern about the potential impact of a deadly new virus outbreak dragged stock indexes in China sharply lower. Fears that the coronavirus could spread, dampening tourism and economic growth, has weighed on global markets this week, driving up demand for U.S. government bonds and safe-play stocks.

Traders also had their eye on a mixed batch of company earnings reports, including encouraging quarterly results from American Airlines and Citrix Systems, and disappointing report cards from Travelers and Raymond James Financial.

“Today was driven a bit by earnings, but also by the coronavirus fears,” said J.J. Kinahan, chief strategist with TD Ameritrade. “Asian markets had a really tough night and that was our lead-in, that put a bit of extra pressure on the market coming in.”

The S&P 500 index inched up 3.79 points, or 0.1%, to 3,325.54. The index had been down as much as 0.6% earlier in the day.

The Dow fell 26.18 points, or 0.1%, to 29,160.09. The Nasdaq gained 18.71 points, or 0.2%, to 9,402.48. The index, which is heavily weighted with technology stocks, previously hit a record high last Friday.

The Russell 2000 index of smaller company stocks rose 0.55 points, or less than 0.1%, to 1,685.01.

Excluding the Nasdaq, the major U.S. stock indexes are on track to end the week with a loss.

Bond prices rose. The yield on the 10-year Treasury fell to 1.73% from 1.77% late Wednesday.

Stocks got off to a shaky start following a sell-off in global markets as authorities worldwide stepped up measures to monitor and contain the virus. The central Chinese city of Wuhan, where the virus is concentrated, closed down its train station and airport Thursday to prevent people from entering or leaving the city.

The coronavirus has been confirmed in five countries, including China, the U.S., Thailand, Japan and South Korea. More than 500 people have fallen sick and 17 have died from the illness, which can cause pneumonia and other severe respiratory symptoms.

A World Health Organization committee decided on Thursday against declaring the outbreak a global emergency for now. Such a declaration can bring more money and other resources to fight a threat but can also trigger economically damaging restrictions on trade and travel in the affected countries, making the decision a politically fraught one.

The market regained some of its footing as the day went on and investors focused on the latest company earnings reports.

Technology stocks notched the biggest gains. Citrix Systems led all S&P 500 stocks, vaulting 7.8%, after the software company reported fourth-quarter earnings and revenue that topped Wall Street’s forecasts.

Industrial stocks also rose, helped by solid earnings from American Airlines Group. Strong travel demand resulted in record occupancy levels on its planes, though the airline noted it had to cancel about 10,000 flights during the fourth quarter because of the grounding of the Boeing 737 Max jets. Its stock climbed 5.4% and helped lift other airlines. Southwest Airlines gained 3.6% and Alaska Air Group rose 2.4%.

Real estate and utilities companies also notched gains as traders shifted money into the safe-play sectors.

Health care stocks were the biggest losers. Edwards LifeSciences, which makes heart valves, dropped 4.8%.

Financial stocks, including insurers, also fell. Travelers Cos. slid 5.1%, while financial services firm Raymond James dropped 6.2% after falling short of profit forecasts.

Crude oil prices slumped and weighed on energy stocks. Pioneer Natural Resources dropped 2.9%.

V.F. Corp. slid 9.7% after the maker of Vans and Timberland shoes cut its profit forecast for the year following weak fiscal third-quarter sales. The stock was the biggest decliner in the S&P 500.

Benchmark crude oil fell $1.15 to settle at $55.59 a barrel. Brent crude oil, the international standard, dropped $1.17 to close at $62.04 a barrel. Wholesale gasoline fell 2 cents to $1.56 per gallon. Heating oil declined 1 cent to $1.79 per gallon. Natural gas rose 2 cents to $1.93 per 1,000 cubic feet.

Gold rose $9.30 to $1,564.60 per ounce, silver was unchanged at $17.77 per ounce and copper fell 4 cents to $2.73 per pound.

The dollar fell to 109.52 Japanese yen from 109.89 yen on Wednesday. The euro weakened to $1.1056 from $1.1092.

European markets fell. Asian markets also declined. The virus outbreak coincides with the annual travel of hundreds of millions of Chinese for the Lunar New Year festival, which begins Friday. In Hong Kong, the Hang Seng dropped 1.5%, while the Shanghai Composite index declined 2.8%.


----------



## bigdog

Health care companies led a broad slide in U.S. stocks Friday as increased fears over the spread of a deadly outbreak of coronavirus rattled markets.

The S&P 500 had its worst day since early October and snapped a two-week winning streak.

The sell-off followed news that a Chicago woman has become the second U.S. patient diagnosed with the new virus from China. Health authorities worldwide have been taking measures to try to contain and monitor the coronavirus outbreak.

“It really is a reaction to the widening nature of what's going on with the coronavirus,” said Lisa Erickson, head of traditional investments at U.S. Bank Wealth Management. "People are concerned about, ultimately, the impact on Chinese growth and perhaps global growth."

The S&P 500 index fell 30.07 points, or 0.9%, to 3,295.47. The index had been down as much as 1.3% earlier.

The Dow Jones Industrial Average dropped 170.36 points, or 0.6%, to 28,989.73. It briefly slid more than 316 points.

The Nasdaq composite lost 87.57 points, or 0.9%, to 9,314.91. The Russell 2000 index of smaller company stocks slumped 22.78 points, or 1.4%, to 1,662.23.

The stock market has been mostly racking up gains going back to last fall. Before this week, the S&P 500 had only posted a weekly decline three times since October. Even with this week’s decline of 1%, the benchmark index is still up 2% for the month.




















https://www.usnews.com/news/busines...s-propel-us-stocks-to-early-gains-intel-jumps

*Stocks Fall as Fears About Deadly Virus Grow; Dow Drops 170*
Stocks closed with broad losses Friday as increased fears that an outbreak of a deadly virus could spread more widely rattles markets.
By Associated Press, Wire Service Content Jan. 24, 2020, at 5:03 p.m.

By ALEX VEIGA, AP Business Writer

Health care companies led a broad slide in U.S. stocks Friday as increased fears over the spread of a deadly outbreak of coronavirus rattled markets.

The S&P 500 had its worst day since early October and snapped a two-week winning streak.

The sell-off followed news that a Chicago woman has become the second U.S. patient diagnosed with the new virus from China. Health authorities worldwide have been taking measures to try to contain and monitor the coronavirus outbreak.

“It really is a reaction to the widening nature of what's going on with the coronavirus,” said Lisa Erickson, head of traditional investments at U.S. Bank Wealth Management. "People are concerned about, ultimately, the impact on Chinese growth and perhaps global growth."

The S&P 500 index fell 30.07 points, or 0.9%, to 3,295.47. The index had been down as much as 1.3% earlier.

The Dow Jones Industrial Average dropped 170.36 points, or 0.6%, to 28,989.73. It briefly slid more than 316 points.

The Nasdaq composite lost 87.57 points, or 0.9%, to 9,314.91. The Russell 2000 index of smaller company stocks slumped 22.78 points, or 1.4%, to 1,662.23.

The stock market has been mostly racking up gains going back to last fall. Before this week, the S&P 500 had only posted a weekly decline three times since October. Even with this week’s decline of 1%, the benchmark index is still up 2% for the month.

Jitters over the potential economic fallout from the coronavirus outbreak intensified Friday as the tally of confirmed cases continued to climb, rising to more than 850. Twenty-six people have died, all in China. The Centers for Disease Control said over 2,000 returning travelers had been screened at U.S. airports and 63 patients in 22 states were being tested.

The virus can cause pneumonia and other severe respiratory symptoms. The World Health Organization has so far held off on declaring the situation a global emergency, which would bring more money and resources to fight it, but also could trigger economically damaging restrictions on trade and travel.

Shares in airlines and several other companies in the travel and tourism industries fell Friday. United Airlines slid 3.5% and American Airlines dropped 4%. Cruise line operator Carnival fell 3.9%.

Drugmaker Bristol-Myers Squibb was among the biggest decliners in the health care sector, shedding 4%. Health insurers also fell. UnitedHealth Group dropped 2.2% and Amgen lost 4%.

Banks and other financial sector companies also took heavy losses, with credit card issuers among the biggest losers.

The price of U.S. crude oil fell 2.5%, dragging down energy stocks. Hess lost 3.2%.

Utilities notched a slight gain as investors shifted money into safe-play, high-dividend stocks and U.S. government bonds. The surge in bond-buying sent yields lower. The yield on the 10-year Treasury note fell to 1.69% from 1.74% late Thursday, a big move.

Investors continued to dig through the latest batch of company earnings reports Friday.

Intel surged 8.1% after the chipmaker blew past Wall Street’s fourth-quarter profit forecasts. The company cited demand for cloud-computing as the key reason for the solid financial results. It also gave investors an upbeat forecast for the first quarter, which helped inject some confidence into the broader market for chips.

American Express rose 2.8% after the credit card issuer and global payments company beat Wall Street's fourth-quarter profit forecasts.

Shares in two credit card issuers fell sharply after the companies released mixed quarterly snapshots. Discover Financial Services slumped 11.1% after it issued disappointing 2020 guidance. Synchrony Financial skidded 9.9% after its fourth-quarter revenue fell short of analysts’ forecasts.

Next week is shaping up as the busiest week for earnings reports, with roughly 40% of the companies in the S&P 500 due to issue their results for the last three months of 2019.

So far, about 16% of S&P 500 companies have reported their quarterly results. Early indications have been encouraging, with 72.8% of those companies topping analysts' forecasts for profits, according to S&P Global Market Intelligence.

Even so, the outlook for 2020 earnings isn't improving as many investors expected, said Sam Stovall, chief investment strategist at CFRA.

"The reason the market was up 13% in the past 3 months is with the expectation that we would see a ramp-up in economic growth and earnings increases, but that has yet to materialize," he said. "2020 (earnings) estimates have actually come down. They were expected to be up 7.9%, now they're expected to climb 7.6%."

Benchmark crude oil fell $1.40 to settle at $54.19 a barrel. Brent crude oil, the international standard, dropped $1.35 to close at $60.69 a barrel.

Wholesale gasoline fell 4 cents to $1.52 per gallon. Heating oil declined 6 cents to $1.73 per gallon. Natural gas fell 4 cents to $1.89 per 1,000 cubic feet.

Gold rose $6.50 to $1,571.10 per ounce, silver rose 29 cents to $18.06 per ounce and copper fell 4 cents to $2.69 per pound.

The dollar fell to 109.24 Japanese yen from 109.52 yen on Thursday. The euro weakened to $1.1029 from $1.1056.

European markets closed with solid gains, helped by a report that showed improvement in manufacturing activity. Germany’s DAX jumped 1.4% and the CAC 40 in France rose 0.9%. Markets were closed in Shanghai and the rest of mainland China, South Korea, Malaysia and Taiwan. Japan’s Nikkei and Hong Kong’s Hang Seng edged higher.

952


----------



## bigdog

U.S. stocks fell sharply Monday, sending the Dow Jones Industrial Average down by more than 450 points, as investors grappled with fresh worries about the spread of a new virus in China that threatens global economic growth.

The sell-off gave the Dow its first 5-day losing streak since early August and handed the S&P 500 its worst day since early October. Both indexes were off about 1.5%, giving up a significant portion of their gains this month.

The latest bout of selling on Wall Street came after China announced a sharp rise in cases of the virus.

Airlines, resorts and other companies that rely on travel and tourism suffered steep losses. Gold prices rose as did bonds as traders sought refuge in safer holdings. The yield on the 10-year Treasury fell to 1.60%, its lowest level since October. The market’s broad slide followed a sell-off in markets in Europe and Japan.

“Over the weekend you saw more cases,” said Quincy Krosby, chief market strategist at Prudential Financial. “That got investors and traders worried that this may be a longer event. The next question is, ‘What happens to global growth if this does continue and magnify?’”

The Dow Jones Industrial Average fell 453.93 points, or 1.6%, to 28,535.80. The Dow had been down nearly 550 points. The S&P 500 index dropped 51.84 points, or 1.6%, to 3,243.63. The Nasdaq lost 175.60 points, or 1.9%, to 9,139.31. The Russell 2000 index of smaller company stocks gave up 18.09 points, or 1.1%, to 1,644.14.

Most markets in Asia were closed for the Lunar New Year holiday, but Japan’s Nikkei fell 2.03%, its biggest decline in five months. European markets also slumped. Germany’s DAX and France’s CAC 40 dove 2.7%.

*The S&P/ASX 200 index looks set to start the week on a very disappointing note. According to the latest SPI futures, the ASX 200 is poised to sink 120 points or 1.7% at the open.*










https://apnews.com/b8c9523acabfb8045c9c8436e2e1c4ac

*Stocks tumble as virus fears spark sell-off; Dow falls 453*
By ALEX VEIGA and DAMIAN J. TROISE

U.S. stocks fell sharply Monday, sending the Dow Jones Industrial Average down by more than 450 points, as investors grappled with fresh worries about the spread of a new virus in China that threatens global economic growth.

The sell-off gave the Dow its first 5-day losing streak since early August and handed the S&P 500 its worst day since early October. Both indexes were off about 1.5%, giving up a significant portion of their gains this month.

The latest bout of selling on Wall Street came after China announced a sharp rise in cases of the virus.

Airlines, resorts and other companies that rely on travel and tourism suffered steep losses. Gold prices rose as did bonds as traders sought refuge in safer holdings. The yield on the 10-year Treasury fell to 1.60%, its lowest level since October. The market’s broad slide followed a sell-off in markets in Europe and Japan.

“Over the weekend you saw more cases,” said Quincy Krosby, chief market strategist at Prudential Financial. “That got investors and traders worried that this may be a longer event. The next question is, ‘What happens to global growth if this does continue and magnify?’”

The Dow Jones Industrial Average fell 453.93 points, or 1.6%, to 28,535.80. The Dow had been down nearly 550 points. The S&P 500 index dropped 51.84 points, or 1.6%, to 3,243.63. The Nasdaq lost 175.60 points, or 1.9%, to 9,139.31. The Russell 2000 index of smaller company stocks gave up 18.09 points, or 1.1%, to 1,644.14.

Most markets in Asia were closed for the Lunar New Year holiday, but Japan’s Nikkei fell 2.03%, its biggest decline in five months. European markets also slumped. Germany’s DAX and France’s CAC 40 dove 2.7%.

Chinese health authorities have confirmed 2,750 cases of the virus along with 81 related deaths as authorities extended a week-long public holiday by an extra three days as a precaution against having the virus spread still further. The virus has spread to a dozen countries, including the U.S. Besides the threat to people’s lives and health, investors are worried about how much damage the virus will do to profits for companies around the world.

Even if they’re thousands of miles away from Wuhan, the interconnected global economy means U.S. companies have plenty of customers and suppliers in China. It’s the world’s second-largest economy, and it accounts for 6% of all revenue for S&P 500 companies over the last 12 months. That’s nearly double any other country besides the United States, according to FactSet.

“Markets hate uncertainty, and the coronavirus is the ultimate uncertainty in that no one knows how badly it will impact the global economy,” said Alec Young, managing director of global markets research at FTSE Russell.

Resort operators were among the biggest losers in the S&P 500. Wynn Resorts led all company’s in the index lower with an 8.1% tumble, while Las Vegas Sands dropped 6.7%. The companies get most of their revenue from the Chinese gambling haven of Macao. MGM Resorts fell 3.9%.

American Airlines lost 5.5% and Delta dropped 3.4% as part of a broad slide for airlines because of concerns international travel will decline amid the virus’ spread.

Booking companies and cruise-line operators also got hurt. Expedia Group fell 2.7% and Carnival slid 4.7%.

Chinese companies that trade shares in the U.S. also declined. Search engine operator Baidu fell 2.9% and e-commerce company JD.com dropped 4.8%.

The technology sector, the biggest in the S&P 500, also saw heavy selling. Apple, which relies on China for supplies and sales, fell 2.9%.

Financial stocks also took steep losses. Citigroup dropped 2.2%.

Energy stocks fell broadly as U.S. oil prices fell 1.9% on worries about reduced demand from China. Schlumberger skidded 5.1%.

Utilities, real estate stocks and household goods makers held up better than the rest of the market, though they still finished in the red. The sectors are viewed as less-risky and are not as affected by international issues and developments.

A few companies managed to climb against the sliding markets. Bleach and cleaning products maker Clorox rose 1.1%.

Small biotechnology companies and drug developers made some of the biggest gains. Cleveland BioLabs more than doubled, while NanoViricides and BioCryst also climbed sharply.

“If you look at this right now, investors and traders are looking at pockets of opportunity,” Krosby said. “It’s not a question of if, but when they start buying.”

Investors are also dealing with a heavy week of corporate earnings. Apple will report financial results on Tuesday. Pharmaceutical giant Pfizer and Starbucks will also report.

Boeing, McDonald’s, Coca-Cola and Amazon are also among some of the biggest names reporting earnings throughout the week that includes 147 S&P 500 companies.

Benchmark crude oil fell $1.05 to settle at $53.14 a barrel. Brent crude oil, the international standard, dropped $1.37 to close at $59.32 a barrel.

Wholesale gasoline slid 3 cents to $1.48 per gallon. Heating oil declined 5 cents to $1.70 per gallon. Natural gas inched 1 cent higher to $1.90 per 1,000 cubic feet.

Gold rose $5.50 to $1,577.40 per ounce, silver fell 6 cents to $18.06 per ounce and copper slid 9 cents to $2.60 per pound.

The dollar fell to 108.92 Japanese yen from 109.24 yen on Friday. The euro weakened to $1.1020 from $1.1029.


----------



## bigdog

Stocks closed broadly higher on Wall Street Tuesday, reversing a big slice of the market’s losses from a sharp sell-off the day before.

The rebound ended a five-day losing streak for the Dow Jones Industrial Average fueled largely by fears that the spread of a new virus in China could hamper global economic growth. The outbreak has killed more than 100 people, putting a chill on travel and tourism in China.

Investors placed their concerns about the virus’ potential economic impact on the back burner and snapped up stocks beaten down earlier in the week, particularly chipmakers and other technology companies. The sector notched the biggest gain Tuesday and powered much of the rally.

"There are always a few bargain hunters out there who will step in and start buying almost immediately,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab. “But I'm quite surprised that it's been this quickly and that it has rebounded as much as it has.”

The S&P 500 index rose 32.61 points, or 1%, to 3,276.24. The Dow gained 187.05 points, or 0.7%, to 28,722.85. The Nasdaq climbed 130.37 points, or 1.4%, to 9,269.68. The Russell 2000 index of smaller company stocks picked up 14.18 points, or 0.9%, to 1,658.31.

Markets in Hong Kong, Taiwan and mainland China were closed Tuesday for Lunar New Year holidays. 

The S&P/ASX 200 index looks set to rebound on Wednesday. According to the latest SPI futures, the ASX 200 is poised to rise 39 points or 0.55% at the open.











https://www.usnews.com/news/busines...-higher-on-wall-street-a-day-after-a-big-drop

*Stocks Indexes Gain on Wall Street a Day After a Big Drop*
Stocks are closing broadly higher on Wall Street, reversing most of their losses from a sell-off the day before.
By Associated Press, Wire Service Content Jan. 28, 2020, at 5:16 p.m. 

By ALEX VEIGA, AP Business Writer

Stocks closed broadly higher on Wall Street Tuesday, reversing a big slice of the market’s losses from a sharp sell-off the day before.

The rebound ended a five-day losing streak for the Dow Jones Industrial Average fueled largely by fears that the spread of a new virus in China could hamper global economic growth. The outbreak has killed more than 100 people, putting a chill on travel and tourism in China.

Investors placed their concerns about the virus’ potential economic impact on the back burner and snapped up stocks beaten down earlier in the week, particularly chipmakers and other technology companies. The sector notched the biggest gain Tuesday and powered much of the rally.

"There are always a few bargain hunters out there who will step in and start buying almost immediately,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab. “But I'm quite surprised that it's been this quickly and that it has rebounded as much as it has.”

The S&P 500 index rose 32.61 points, or 1%, to 3,276.24. The Dow gained 187.05 points, or 0.7%, to 28,722.85. The Nasdaq climbed 130.37 points, or 1.4%, to 9,269.68. The Russell 2000 index of smaller company stocks picked up 14.18 points, or 0.9%, to 1,658.31.

Bond prices fell, sending yields higher following a significant drop a day earlier. The yield on the 10-year Treasury climbed to 1.65% from 1.60% late Monday.

Despite the rebound, the major U.S. indexes are still down for the week. The losses have hit smaller company stocks hardest, erasing the Russell 2000’s gains for the year.

U.S. stocks were running at all-time highs at the start of the month. An index measuring volatility in the market was running at 12- month lows and the benchmark S&P 500 had climbed around 13% since early October after Washington and Beijing announced they would sign a preliminary trade deal.

That set the market up for a pullback, and investors’ jitters over the virus outbreak fit the bill.

“It may be symptomatic about how bullish overall people have been and how much money still sits on the sidelines,” Frederick said. “People are just looking for any opportunity to get a bargain right now, but it could ultimately end up being a little bit risky to do that.”

More than 4,500 people have been confirmed ill with the virus and 106 have died in the outbreak of a new coronavirus centered in the Chinese city of Wuhan, an industrial hub along the Yangtze river. The virus has now spread to more than a dozen countries.

Hong Kong has joined much of China in seriously restricting travel by cutting all rail links to the mainland. China's containment efforts began with the suspension of plane, train and bus links to Wuhan and has now expanded to 17 cities with more than 50 million people in the most far-reaching disease-control measures ever imposed.

The United States and several other nations were taking steps to airlift citizens out of a Chinese city at the center of the outbreak. Still, U.S. health officials said Tuesday that, for now, the risks to Americans is very low.

Apple was one of the big gainers in the technology sector Tuesday. The iPhone maker rose 2.8% and continued to climb in extended trading after it released quarterly results following the closing bell that topped analysts’ estimates.

Chipmakers also made solid gains. Intel added 2.5% and Nvidia rose 3.2%. Many of those companies are affected by China’s economy because they rely heavily on that nation for sales and supply chains.

Banks and other financial companies also climbed, along with communications stocks. Utilities, real estate companies and household goods makers notched the smallest gains as investors shifted less money into safe-play sectors.

Shares in casino operators, hotel chains, cruise lines and other travel-related companies recouped some of their losses over the past few days as worries about the virus outbreak's impact on tourism hammered the stocks. Wynn Resorts rose 0.9% and Las Vegas Sands gained 1.8%. Delta Air Lines added 1.1% and Carnival gained 2.7%.

Investors continued to assess company earnings reports. Pfizer slid 5% after the biggest U.S. drugmaker reported disappointing fourth-quarter earnings.

Harley-Davidson dropped 3% after the storied motorcycle maker reported weak fourth-quarter earnings and revenue. The company had a tough quarter for U.S. sales, which led the overall worldwide drop.

Wall Street is in the midst of a heavy week for corporate earnings. Boeing, McDonald’s, Facebook and Microsoft will all report results on Wednesday. Other big names reporting this week include Coca-Cola, Amazon, Caterpillar and Exxon Mobil.

The Federal Reserve is also set to deliver its latest interest rate and economic policy update Wednesday. The central bank lowered its key interest rate three times last year in a bid to shield the economy from slowing global growth and the fallout from the U.S.-China trade war.

Benchmark crude oil rose 34 cents settle at $53.48 a barrel. Brent crude oil, the international standard, gained 19 cents to close at $59.51 a barrel. Wholesale gasoline rose 2 cents to $1.50 per gallon. Heating oil climbed 2 cents to $1.72 per gallon. Natural gas rose 3 cents to $1.93 per 1,000 cubic feet.

Gold fell $7.60 to $1,569.80 per ounce, silver fell 60 cents to $17.46 per ounce and copper fell 2 cents to $2.58 per pound.

The dollar rose to 109.14 Japanese yen from 108.93 yen on Monday. The euro was unchanged at $1.1017.

Markets in Hong Kong, Taiwan and mainland China were closed Tuesday for Lunar New Year holidays. Indexes fell elsewhere, including a 3.1% tumble for South Korea’s benchmark. European markets closed broadly higher.


----------



## bigdog

Major U.S. stock indexes ended mixed Wednesday after an early rally powered by strong gains in technology companies faded in the final minutes of trading.

The wobbly finish left the benchmark S&P 500 with a 0.1% loss. The Dow Jones Industrial Average closed with a gain of less than 0.1%, while the Nasdaq composite inched 0.1% higher. Bond prices rose, pulling yields lower.

Investors continued to assess quarterly reports from big companies, including solid results from General Electric and Apple. The iPhone maker’s shares climbed to an all-time high. Microsoft reported quarterly results after the close of regular trading that topped Wall Street estimates.

Stocks barely budged after Federal Reserve announced it is leaving its benchmark interest rate unchanged at a low level. The move, which was widely expected, reflects the central bank’s mostly positive view of the U.S. economy.

“They seem to have gotten the porridge temperature just about right,” said Tom Martin, senior portfolio manager with Globalt Investments. “Inflation isn’t budging one way or the other -- same thing with unemployment, same thing with wage growth.”

The S&P 500 index fell 2.84 points, or 0.1%, to 3,273.40. The index had earlier been up by 0.5%.

The Dow edged up 11.60 points, or less than 0.1%, to 28,734.45. The Nasdaq added 5.48 points, or 0.1%, to 9,275.16. The Russell 2000 index of smaller company stocks slid 9.09 points, or 0.5%, to 1,649.22.

Gainers and losers closed nearly even on the New York Stock Exchange.

The Dow, S&P and Nasdaq are on track to end January with gains.

Chinese markets remained closed for Lunar New Year holidays

ASX looks set to be a subdued day of trade for the S&P/ASX 200 index on Thursday. According to the latest SPI futures, the ASX 200 is poised to open the day flat.










https://apnews.com/66cf203338b3c36359d43de08e11a04b

*Stocks give up early gains and end mixed on Wall Street*
By ALEX VEIGA

Major U.S. stock indexes ended mixed Wednesday after an early rally powered by strong gains in technology companies faded in the final minutes of trading.

The wobbly finish left the benchmark S&P 500 with a 0.1% loss. The Dow Jones Industrial Average closed with a gain of less than 0.1%, while the Nasdaq composite inched 0.1% higher. Bond prices rose, pulling yields lower.

Investors continued to assess quarterly reports from big companies, including solid results from General Electric and Apple. The iPhone maker’s shares climbed to an all-time high. Microsoft reported quarterly results after the close of regular trading that topped Wall Street estimates.

Stocks barely budged after Federal Reserve announced it is leaving its benchmark interest rate unchanged at a low level. The move, which was widely expected, reflects the central bank’s mostly positive view of the U.S. economy.

“They seem to have gotten the porridge temperature just about right,” said Tom Martin, senior portfolio manager with Globalt Investments. “Inflation isn’t budging one way or the other -- same thing with unemployment, same thing with wage growth.”

The S&P 500 index fell 2.84 points, or 0.1%, to 3,273.40. The index had earlier been up by 0.5%.

The Dow edged up 11.60 points, or less than 0.1%, to 28,734.45. The Nasdaq added 5.48 points, or 0.1%, to 9,275.16. The Russell 2000 index of smaller company stocks slid 9.09 points, or 0.5%, to 1,649.22.

Gainers and losers closed nearly even on the New York Stock Exchange.

The Dow, S&P and Nasdaq are on track to end January with gains.

Bond prices rose. The yield on the 10-year Treasury fell to 1.58% from 1.64% late Tuesday.

Despite a rally Tuesday, stocks have been mostly pulled lower this week amid investor jitters over the outbreak of a new virus in China. The virus, which has infected more than 6,000 in mainland China and abroad, remains a potential threat to the global economy.

Speaking to reporters Wednesday afternoon, Federal Reserve Chairman Jerome Powell acknowledged that there’s a risk the outbreak could slow the global economy.

Turning to interest rates, the central bank said it would hold short-term rates in a range of 1.5% to 1.75%, far below levels that were typical during previous expansions. Powell and other Fed officials have indicated that they see that range as low enough to support faster growth and hiring.

Last year, the Fed cut its benchmark interest rate three times after having raised it four times in 2018. Powell credits those rate cuts with revitalizing the housing market, which had stumbled early last year, and offsetting some of the drag from President Donald Trump’s trade war with China.

Losses in communication services, energy and health care stocks outweighed gains by technology, industrial and utilities companies Wednesday.

A report that Americans pulled back on signing contracts to buy homes last month dragged down homebuilder stocks. PulteGroup fell 1.8% and Hovnanian Enterprises dropped 3.7%.

Apple rose 2.1% after a strong holiday season helped propel profits beyond Wall Street forecasts. The iPhone maker’s surprisingly good report marks a turnaround from a year ago when sales of its marquee product appeared to be sliding. The company is also seeing gains in sales of smartwatches, digital services and wireless earbuds.

General Electric surged 10.3% after a strong showing from its aviation business pushed profits above expectations.

Norfolk Southern climbed 4.9% after the railroad reported surprisingly good fourth-quarter profits following cost cuts. The railroad industry has been experiencing weak demand for freight hauling and the company is trying to operate on a tighter schedule and move more freight with fewer people.

Union Pacific rose 1.2% and CSX climbed 1.7%.

Traders bid up shares in L Brands 12.9% following reports that the owner of Bath & Body Works and Victoria’s Secret could change leadership and sell off some of its parts. The Wall Street Journal reported that Leslie Wexner, who has served as CEO for more than five decades, is in talks to step down. It also said the company is considering a full or partial sale of its lingerie business.

Wall Street’s busy week of company earnings reports continues Thursday, when Coca-Cola, UPS, Amazon and Visa are scheduled to release results. Caterpillar and Exxon Mobil will report results on Friday.

Benchmark crude oil fell 15 cents to settle at $53.33 a barrel. Brent crude oil, the international standard, rose 30 cents to close at $59.81 a barrel. Wholesale gasoline rose 3 cents to $1.53 per gallon. Heating oil declined 2 cents to $1.70 per gallon. Natural gas fell 6 cents to $1.87 per 1,000 cubic feet.

Gold rose 60 cents to $1,570.40 per ounce, silver rose 5 cents to $17.45 per ounce and copper fell 3 cents to $2.55 per pound.

The dollar fell to 109.06 Japanese yen from 109.14 yen on Tuesday. The euro strengthened to $1.1020 from $1.1017.

European markets finished higher. Asian markets were mixed. Hong Kong’s Hang Seng fell 2.8% after its markets reopened from Lunar New Year holidays, while other Chinese markets remained closed.


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## bigdog

Major U.S. stock indexes finished higher Thursday after a late burst of buying led by technology and financial companies reversed an early slide.

News of a spike in the number of confirmed cases and fatalities from a virus outbreak in China put investors in a selling mood for most of the day, overshadowing a batch of mostly solid company earnings reports.

Traders have been worried that the outbreak could end up dampening global economic growth. But those concerns appeared to ease by late afternoon, after the director general of the World Health Organization said that the organization was not recommending limiting travel or trade to China.

“There is no reason for measures that unnecessarily interfere with international travel and trade,” Tedros Adhanom Ghebreyesus told reporters in Geneva after the WHO officially declared the outbreak a global emergency.

Technology and financial companies led the market's rebound. Companies that rely on consumer spending also notched solid gains. Health care and communication stocks fell the most.

Amazon reported its quarterly results at the close of regular trading. The company's earnings and revenue blew past Wall Street's expectations, sending its shares sharply higher in extended trading.

The S&P 500 index rose 10.26 points, or 0.3%, to 3,283.66. The index had been down 0.9% earlier in the day.

The Dow Jones Industrial Average climbed 124.99 points, or 0.4%, to 28,859.44. The Nasdaq added 23.77 points, or 0.3%, to 9,298.93.

Smaller company stocks recovered most of the way after taking the brunt of the selling. The Russell 2000 index slipped 1 point, or 0.1%, to 1,648.22.

Markets in mainland China are still closed for Lunar New Year holiday.

The S&P/ASX 200 index looks set to shake off declines in Europe and on Wall Street and push higher on Friday. According to the latest SPI futures, the ASX 200 is poised to open the day 9 points or 0.1% higher.










https://www.usnews.com/news/busines...lower-on-wall-street-following-drops-overseas

*Stocks Post Modest Gains at End of a Wobbly Day of Trading*
A late wave of buying left major U.S. stock indexes with modest gains on Wall Street after spending most of the day in the red.
By Associated Press, Wire Service Content Jan. 30, 2020, at 5:15 p.m.

By ALEX VEIGA, AP Business Writer

Major U.S. stock indexes finished higher Thursday after a late burst of buying led by technology and financial companies reversed an early slide.

News of a spike in the number of confirmed cases and fatalities from a virus outbreak in China put investors in a selling mood for most of the day, overshadowing a batch of mostly solid company earnings reports.

Traders have been worried that the outbreak could end up dampening global economic growth. But those concerns appeared to ease by late afternoon, after the director general of the World Health Organization said that the organization was not recommending limiting travel or trade to China.

“There is no reason for measures that unnecessarily interfere with international travel and trade,” Tedros Adhanom Ghebreyesus told reporters in Geneva after the WHO officially declared the outbreak a global emergency.

Technology and financial companies led the market's rebound. Companies that rely on consumer spending also notched solid gains. Health care and communication stocks fell the most.

Amazon reported its quarterly results at the close of regular trading. The company's earnings and revenue blew past Wall Street's expectations, sending its shares sharply higher in extended trading.

The S&P 500 index rose 10.26 points, or 0.3%, to 3,283.66. The index had been down 0.9% earlier in the day.

The Dow Jones Industrial Average climbed 124.99 points, or 0.4%, to 28,859.44. The Nasdaq added 23.77 points, or 0.3%, to 9,298.93.

Smaller company stocks recovered most of the way after taking the brunt of the selling. The Russell 2000 index slipped 1 point, or 0.1%, to 1,648.22.

Stocks have given up some ground after a strong start to the year amid uncertainty over the virus outbreak. Still, the major indexes remain on track to end January with gains.

The indexes spent much of Thursday in the red as investors assessed the latest company earnings reports and monitored developments in the outbreak of a new virus in China.

The new type of coronavirus is starting to spread to people outside China, which is essentially on lockdown. There are currently more than 7,800 confirmed cases, mostly in central China, and 170 deaths, mostly in Hubei province.

The WHO's move to declare the outbreak a global emergency Thursday came after the number of cases spiked tenfold in a week. The declaration means the WHO sees the virus as a risk to other countries that requires an international response.

"While the WHO declaration was anticipated to come at some point, they did stop short of suggesting travel and trade restrictions with China were necessary to prevent the spread of the virus," said Mike Stritch, chief investment officer of BMO Wealth Management. "The aversion of a 'worst case scenario' put a floor under equities with airlines, for example, moving higher in the afternoon."

Companies have been issuing warnings over the potential impact to profits and revenue from the outbreak. Align Technology, which makes tooth-straightening systems, gave investors a weak profit forecast because of the virus. Starbucks has already held back on raising its forecast for the year and airlines are starting to curtail flights to Chinese cities because of weak demand.

Jitters over the virus outbreak had many investors initially seeking less risky assets Thursday. That drove up the prices of U.S. government bonds and gold. The yield on the 10-year Treasury note moved lower for much of the day, but recovered, ending up little changed at 1.59%.

The price of gold climbed $13.10 to $1,583.50 per ounce. Gold prices are up 20% over the past year.

Investors bid up shares in companies reporting solid quarterly results.

Microsoft rose 2.8% after the software maker handily beat Wall Street’s fiscal second-quarter profit forecasts on its growing cloud computing business. The company said that revenue from its Azure cloud computing business grew 62% percent.

Tesla surged 10.3% after the electric vehicle maker blew past Wall Street’s fourth-quarter earnings forecasts on record sales. The company also told investors that it is ramping up production of the Model Y small SUV, which is a key product because consumers are buying smaller utility vehicles.

Other companies failed to impress traders, however.

Altria slid 4.2% after the maker of Marlboro cigarettes reported hefty costs because of its investment in e-cigarette maker Juul. Altria took a 35% stake in Juul at the end of 2018 and that company has since faced a surge in federal and state investigations into its marketing amid an explosion of underage vaping teenagers.

Shares in UPS skidded 6.7% after the package delivery company gave investors a disappointing profit forecast.

Benchmark crude oil fell $1.19 to settle at $52.14 a barrel. Brent crude oil, the international standard, dropped $1.52 to close at $58.29 a barrel. Wholesale gasoline fell 4 cents to $1.49 per gallon. Heating oil declined 6 cents to $1.64 per gallon. Natural gas fell 4 cents to $1.83 per 1,000 cubic feet.

In other commodities trading, silver rose 50 cents to $17.99 per ounce and copper fell 3 cents to $2.52 per pound.

The dollar fell to 108.78 Japanese yen from 109.06 yen on Wednesday. The euro strengthened to $1.1031 from $1.1020.

Markets in Europe and Asia finished lower. Hong Kong's Hang Seng was hit particularly hard, shedding 2.6%. Japan's Nikkei 225 slipped 1.7%. Markets in mainland China are still closed for Lunar New Year holiday.


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## bigdog

The stock market got off to roaring start in January, until a virus outbreak that started in China wiped out its gains.

The Dow Jones Industrial Average skidded more than 600 points Friday as the outbreak continued to widen, stoking fears that the travel restrictions and other uncertainties caused by the health emergency in the world's second-largest economy could dent global growth.

Technology companies, which do a lot of business with China, led the losses. Airlines fell after Delta and American suspended flights to and from China. The sell-off erased the S&P 500's gains for January and gave the benchmark index its biggest weekly loss since August.

Just two weeks ago, the S&P 500 had closed at an all-time high, having climbed around 13% since early October. A preliminary trade deal signed by the U.S. and China earlier in the month eased a big source of uncertainty in the markets. Volatility was running at 12-month lows and even a dust up between the U.S. and Iran didn’t rock markets.

Then came the virus outbreak in China.

Markets around the globe have sold off on concerns about the potential economic impact of the outbreak. Hong Kong’s Hang Seng fell 6.7% this week and South Korea’s Kospi dropped 5.7%. China’s stock markets reopen Monday after being closed since Jan. 23 for the Lunar New Year. The U.S. stock market, which had calmly been setting record after record, suffered its worst January since 2016 and its first monthly loss since August.

The virus has infected almost 10,000 people in just two months, mostly in China. The World Health Organization has declared the outbreak a global emergency, a designation that signals that the virus is now a significant risk to other countries and requires a global response. The death toll stood at 213, including 43 new fatalities, all in China.

"It seems like the equity market is now coming around to the realization that maybe this is something that may linger for some time," said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

American Airlines fell 3.2% and Delta Air Lines slipped 2.4%. Apple, which relies on Chinese consumers for sales and factories for supplies, fell 3.9%. Nvidia slid 3.8% and other chipmakers slipped.

The S&P 500 sank 58.14 points, or 1.8%, to 3,225.52. The Dow Jones industrials fell 603.41 points, or 2.1% to 28,256.03 The Nasdaq dropped 148 points, or 1.6%, to 9,150.94.

China’s stock markets reopen Monday after being closed since Jan. 23 for the Lunar New Year.










https://www.usnews.com/news/busines...id-uncertainty-over-virus-impact-amazon-soars

*Stocks Sink on Fears Virus Outbreak Will Dent the Economy*
Stocks fell sharply on Wall Street as investors feared that a virus outbreak that originated in China will dent the global economy.
By Associated Press, Wire Service Content Jan. 31, 2020, at 4:43 p.m.

By ALEX VEIGA, AP Business Writer

The stock market got off to roaring start in January, until a virus outbreak that started in China wiped out its gains.

The Dow Jones Industrial Average skidded more than 600 points Friday as the outbreak continued to widen, stoking fears that the travel restrictions and other uncertainties caused by the health emergency in the world's second-largest economy could dent global growth.

Technology companies, which do a lot of business with China, led the losses. Airlines fell after Delta and American suspended flights to and from China. The sell-off erased the S&P 500's gains for January and gave the benchmark index its biggest weekly loss since August.

Just two weeks ago, the S&P 500 had closed at an all-time high, having climbed around 13% since early October. A preliminary trade deal signed by the U.S. and China earlier in the month eased a big source of uncertainty in the markets. Volatility was running at 12-month lows and even a dust up between the U.S. and Iran didn’t rock markets.

Then came the virus outbreak in China.

Markets around the globe have sold off on concerns about the potential economic impact of the outbreak. Hong Kong’s Hang Seng fell 6.7% this week and South Korea’s Kospi dropped 5.7%. China’s stock markets reopen Monday after being closed since Jan. 23 for the Lunar New Year. The U.S. stock market, which had calmly been setting record after record, suffered its worst January since 2016 and its first monthly loss since August.

The virus has infected almost 10,000 people in just two months, mostly in China. The World Health Organization has declared the outbreak a global emergency, a designation that signals that the virus is now a significant risk to other countries and requires a global response. The death toll stood at 213, including 43 new fatalities, all in China.

"It seems like the equity market is now coming around to the realization that maybe this is something that may linger for some time," said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

American Airlines fell 3.2% and Delta Air Lines slipped 2.4%. Apple, which relies on Chinese consumers for sales and factories for supplies, fell 3.9%. Nvidia slid 3.8% and other chipmakers slipped.

The S&P 500 sank 58.14 points, or 1.8%, to 3,225.52. The Dow Jones industrials fell 603.41 points, or 2.1% to 28,256.03 The Nasdaq dropped 148 points, or 1.6%, to 9,150.94.

Bond prices rose. The yield on the 10-year Treasury fell to 1.51% from 1.55% late Thursday. In another sign of how much fear is in the market, the yield on teh three-month Treasury rose above the 10-year yield, a relatively rare ocurrence that hasn't happened since October. Investors see such inversions as a fairly reliable warning signal of a recession within a year or so, though its track record isn't perfect.

European markets closed broadly lower. The United Kingdom is officially leaving the European Union later Friday after more than three years of wrangling over the terms of its exit. It’s the first time a country has left the trading bloc.

Markets in Asia finished mostly lower, though Japan’s Nikkei 225 rose 1%.

2267


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## bigdog

Investors are bracing for the worst day for Australian shares this year, on escalating fears about the damage to economic growth from the deadly coronavirus.

The ASX is set to tumble when trading starts today, with futures pointing to a 1.7 per cent, or 119 point, drop in the S&P/ASX 200 index as investors try to gauge the impact of the virus on growth.

Steep losses are also expected across the rest of Asia today, with Nikkei 225 futures pointing to a 2.1 per cent loss. Wall Street tumbled hard on Friday, with the Dow down 2.1 per cent, the S&P 500 dropping 1.8 per cent and the Nasdaq shedding 1.6 per cent.

Chinese financial markets are set to reopen today for the first time since January 23 as investors return from the extended Lunar New Year holiday. Futures for the mainland CSI 300 index were showing a 3.6 per cent loss when they last traded on January 23.

New Zealand NZ 50 is currently down -2.03%


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## bigdog

Update of what are present levels in Asia Pacific (3:25 Pm)

SSE Shanghai China taking big hit down -8.13%






Hong Kong up +0.09%


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## bigdog

Stocks rose in much of the world Monday and recovered some of their losses from earlier weeks, but markets are still far from giving the all-clear on the virus that has spread to more than 20 countries and infected more than 17,000 people.

Chinese stocks tumbled nearly 8% after investors there got a chance to catch up to losses that already swept through other markets. Monday was the first day of trading in more than a week in Shanghai, and the losses would likely have been bigger if not for moves by Chinese authorities, including the pumping of $173 billion into the financial system.

In the United States, meanwhile, a warning signal of recession in the bond market continued to flash red. The price of crude oil also kept sliding on worries that a global economy weakened by the virus will burn less fuel, and prices fell for copper and other building blocks of the economy.

The S&P 500 rose 23.40 points, or 0.7%, to 3,248.92 and clawed back some of its losses following its first back-to-back weekly drops of 1% since August. The Dow Jones Industrial Average gained 143.78, or 0.5%, to 28,399.81, and the Nasdaq composite climbed 122.47, or 1.3%, to 9,273.40. Each of the three indexes remains 1.4% to 3.2% below their records set last month.

All the unsettled trading is a sharp departure from 2019, which saw stocks and bonds make powerful moves higher, and it’s the result of growing uncertainty. Nobody knows how much the virus will ultimately hurt economies and corporate profits, let alone human lives, around the world. Past disease outbreaks have seen stocks hit bottom when the number of new cases peaked.

The S&P/ASX 200 index looks set to rebound slightly from yesterday’s selloff on Tuesday. According to the latest SPI futures, the ASX 200 is poised to rise a few points at the open.

https://www.usnews.com/news/busines...igher-on-wall-street-chinas-main-market-dives










https://www.usnews.com/news/busines...igher-on-wall-street-chinas-main-market-dives

*Stocks Rise on Wall Street, but Virus Worries Remain*
Stocks rose on Wall Street and across Europe on Monday to recover some of their losses from earlier weeks, but markets are still far from giving the all-clear on the virus outbreak that has spread to more than 20 countries.
By Associated Press, Wire Service Content Feb. 3, 2020, at 4:39 p.m.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Stocks rose in much of the world Monday and recovered some of their losses from earlier weeks, but markets are still far from giving the all-clear on the virus that has spread to more than 20 countries and infected more than 17,000 people.

Chinese stocks tumbled nearly 8% after investors there got a chance to catch up to losses that already swept through other markets. Monday was the first day of trading in more than a week in Shanghai, and the losses would likely have been bigger if not for moves by Chinese authorities, including the pumping of $173 billion into the financial system.

In the United States, meanwhile, a warning signal of recession in the bond market continued to flash red. The price of crude oil also kept sliding on worries that a global economy weakened by the virus will burn less fuel, and prices fell for copper and other building blocks of the economy.

The S&P 500 rose 23.40 points, or 0.7%, to 3,248.92 and clawed back some of its losses following its first back-to-back weekly drops of 1% since August. The Dow Jones Industrial Average gained 143.78, or 0.5%, to 28,399.81, and the Nasdaq composite climbed 122.47, or 1.3%, to 9,273.40. Each of the three indexes remains 1.4% to 3.2% below their records set last month.

All the unsettled trading is a sharp departure from 2019, which saw stocks and bonds make powerful moves higher, and it’s the result of growing uncertainty. Nobody knows how much the virus will ultimately hurt economies and corporate profits, let alone human lives, around the world. Past disease outbreaks have seen stocks hit bottom when the number of new cases peaked.

This new virus that first spread from China has already shut factories there, halted some global air traffic and caused economists to cut their 2020 growth forecasts for China, the world’s second-largest economy.

The most immediate threat seems to be for travel and tourism companies. But with supply chains running around the world and China providing more revenue to S&P 500 companies than any country besides the United States, CEOs from a wide range of industries have said they expect some kind of hit to their businesses.

The fears have also struck just as investors believed economic growth would re-accelerate around the world, thanks in large part to interest-rate cuts and bold actions by the Federal Reserve and other central banks around the world. A report on Monday said U.S. manufacturing returned to growth in January for the first time in six months, but many investors discounted it because it doesn’t fully reflect all the virus concerns.

“Think about what global central bankers are thinking about now,” said Emily Roland, co-chief investment strategist at John Hancock Investment Management. She imagined them saying: “Are you kidding me? We pumped so much liquidity into the economy last year, and now the yield curve is inverting again?”

The yield curve is a tool inside the bond market which investors see as a rather reliable predictor of recessions, though it doesn’t have a perfect track record. It triggers when it becomes “inverted,” or when short-term Treasurys offer higher yields than longer-term Treasurys.

On Monday, the three-month yield was at 1.56%, above the 1.52% yield of the 10-year, which itself rose from 1.51% late Friday.

“Sentiment builds on sentiment, and there’s so much uncertainty right now,” Roland said. “We’re not ready to call the all-clear until we see a sustained re-acceleration not only in earnings estimates but also in the economic data.”

In the U.S. stock market, gains were relatively widespread on Monday with close to two stocks rising for every one falling. Tesla surged 19.9% for its biggest gain since 2013, bringing its one-year return to nearly 150%, following optimistic research reports by analysts.

Nike jumped 3.1% to help drive Dow Jones Industrial Average higher as investors try to handicap how much its earnings will be hurt by the virus. Like other companies that do lots of business with China, it had dropped sharply in earlier weeks. Nearly 18% of its revenue last quarter came from China.

Toy companies that ship summer products like pool toys need to have factories in China ramp up production by March 1, according to Steve Pasierb, CEO of the Toy Industry Association. He said he hears nervousness from executives across the industry about possible delays in production.

“There’s complete uncertainty,” he said. “This could be huge if it goes on for months.”

Jay Foreman, CEO of Basic Fun, said that he’s on “eggshells” right now, hoping that the factories in China will resume production by early April, which he considers the best-case scenario.

European stock markets were higher on Monday. France’s CAC 40 rose 0.5%, Germany’s DAX returned 0.5% and the FTSE 100 in London was up 0.6%.

The 7.7% loss for stocks in Shanghai was the headliner in Asia, but other markets were mixed. The Hang Seng in Hong Kong rose 0.2%, the Nikkei 225 in Japan lost 1% and the Kospi in South Korea was virtually flat.

Benchmark U.S. crude tumbled another $1.45, or 2.8%, to settle at $50.11 per barrel on worries about demand. It had been above $63 toward the start of the year, before the virus worries exploded. Brent crude, the international standard, fell $2.17, or 3.8%, to settle at $54.45 per barrel.

In other commodities trading, wholesale gasoline fell 3 cents to $1.47 per gallon. Heating oil declined 5 cents to $1.58 per gallon. Natural gas fell 2 cents to $1.82 per 1,000 cubic feet. Gold fell $5.70 to $1,577.20 per ounce, silver fell 33 cents to $17.64 per ounce and copper fell 1 cent to $2.51 per pound.

The dollar rose to 108.67 Japanese yen from 108.37 yen on Friday. The euro weakened to $1.1063 from $1.1089.


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## bigdog

Technology companies led a broad rally on Wall Street Tuesday that drove the Dow Jones Industrial Average more than 400 points higher and gave the S&P 500 its best day in more than five months.

The gains also pushed the tech-heavy Nasdaq to an all-time high and added to a solid start to February for the broader market after a downbeat January.

Investors welcomed a decision by China’s central bank to inject $57 billion into its markets. The move is the latest step by Beijing to soften the financial blow of the recent virus outbreak. Worries about the potential global economic impact of a protracted outbreak rattled markets in recent weeks, erasing the S&P 500’s gains last month.

“If China’s going to do what they can to support their markets, then maybe we don’t have as much cause for concern for our markets,” said Willie Delwiche, investment strategist at Baird.

Apple and Microsoft were among the tech-sector standouts. Like other major technology companies, they rely heavily on doing business with China. Health care, industrial, financial stocks also notched solid gains.

Utilities, real estate companies and other safe-play assets lagged the market as investors became more comfortable taking on risk. Prices for U.S. government bonds fell sharply, sending yields higher, and the price of gold also fell.

The S&P 500 index rose 48.67 points, or 1.5%, to 3,297.59. It was the index’s biggest single-day gain since early August. The Dow climbed 407.82 points, or 1.4%, to 28,807.63.

The Nasdaq gained 194.57 points, or 2.1%, to 9,467.97, a record high. The Russell 2000 index of smaller company stocks picked up 24.56 points, or 1.5%, to 1,656.77.

China’s latest measure to shore up its markets follows an announcement from Monday that the government would put $173 billion into its markets as they reopened from an extended break.

The S&P/ASX 200 index looks set to storm higher on Wednesday following a positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to rise 50 points or 0.7% at the open.










https://www.usnews.com/news/busines...-open-broadly-higher-following-gains-in-china

*Tech Stocks Lead Indexes Broadly Higher, Nasdaq Sets Record*
Technology companies led a broad rally for stocks, giving the S&P 500 its best gain since early August.
By Associated Press, Wire Service Content Feb. 4, 2020, at 4:55 p.m. 

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Technology companies led a broad rally on Wall Street Tuesday that drove the Dow Jones Industrial Average more than 400 points higher and gave the S&P 500 its best day in more than five months.

The gains also pushed the tech-heavy Nasdaq to an all-time high and added to a solid start to February for the broader market after a downbeat January.

Investors welcomed a decision by China’s central bank to inject $57 billion into its markets. The move is the latest step by Beijing to soften the financial blow of the recent virus outbreak. Worries about the potential global economic impact of a protracted outbreak rattled markets in recent weeks, erasing the S&P 500’s gains last month.

“If China’s going to do what they can to support their markets, then maybe we don’t have as much cause for concern for our markets,” said Willie Delwiche, investment strategist at Baird.

Apple and Microsoft were among the tech-sector standouts. Like other major technology companies, they rely heavily on doing business with China. Health care, industrial, financial stocks also notched solid gains.

Utilities, real estate companies and other safe-play assets lagged the market as investors became more comfortable taking on risk. Prices for U.S. government bonds fell sharply, sending yields higher, and the price of gold also fell.

The S&P 500 index rose 48.67 points, or 1.5%, to 3,297.59. It was the index’s biggest single-day gain since early August. The Dow climbed 407.82 points, or 1.4%, to 28,807.63.

The Nasdaq gained 194.57 points, or 2.1%, to 9,467.97, a record high. The Russell 2000 index of smaller company stocks picked up 24.56 points, or 1.5%, to 1,656.77.

China’s latest measure to shore up its markets follows an announcement from Monday that the government would put $173 billion into its markets as they reopened from an extended break.

The world’s second-largest economy is in a lockdown that is threatening economic growth there and globally. More companies, including Sony, are warning investors of a potential hit to revenue and profit because of the virus. More than 20,000 cases have been confirmed globally, along with over 400 deaths. The cases have been mostly in China.

The moves by China signal to investors around the globe that the country’s leadership is doing what it can to provide liquidity to their economy, Delwiche said.

“That limits some of the worst-case views that were out there from a financial perspective,” he said.

The bond market was also signaling more confidence among investors Tuesday. The yield on the 10-year Treasury jumped to 1.60% from 1.52% late Monday. Perhaps more importantly, the 10-year yield also jumped above the three-month Treasury yield of 1.56%.

The leapfrog move silenced a recession warning that had been ringing in the bond market, at least for now. Yields for short-term Treasurys are rarely higher than for longer-term Treasurys, and when it does happen, a rule of thumb says a recession may be on the way in about a year or so. This recession warning signal, which has a fairly accurate but not perfect history, had begun flashing in recent days on worries about the virus for the first time since October.

Rising expectations of further rate cuts by the Federal Reserve may have also helped lift stocks. Investors now foresee an overwhelming likelihood of at least one Fed rate cut this year, with nearly half expecting two cuts, according to data from CME Group.

The Fed has recently indicated that it’s comfortable with rates at their current level. But traders seem to expect that economic anxiety and damage resulting from China’s viral outbreak will lead the Fed to further ease borrowing rates.

Wall Street continued to assess another busy round of corporate earnings Tuesday. Ralph Lauren jumped 9.2% and Clorox gained 5% after reporting solid financial results. Shares in Google’s parent, Alphabet, dropped 2.5% after the company gave investors a disappointing revenue report.

Traders also continued to drive up shares in Tesla, pushing the stock 13.7% higher , following a 19.9% surge on Monday. The electric vehicle make r reported strong fourth-quarter sales last week and its second-straight quarterly profit. The stock is now up more than twofold since the start of the year.

Shares in eBay jumped 8.8% after The Wall Street Journal reported that the owner of the New York Stock Exchange has offered to buy the online marketplace for more than $30 billion, citing unnamed people familiar with the matter. The owner of the NYSE, Intercontinental Exchange, slumped 7.4%.

Cruise ship operators steamed forward as Royal Caribbean climbed 1.3% after taking tougher measures to screen and restrict passengers amid the virus outbreak, including cancelling eight cruises in China. The cruise line also gave Wall Street a solid quarterly earnings report and profit forecast for the new fiscal year. Carnival rose 1.9% and Norwegian Cruise Line gained 1%.

Benchmark crude oil fell 50 cents to settle at $49.61 a barrel. Brent crude oil, the international standard, dropped 49 cents to close at $53.96 a barrel. Wholesale gasoline fell 3 cents to $1.44 per gallon. Heating oil was unchanged at $1.58 per gallon. Natural gas rose 5 cents to $1.87 per 1,000 cubic feet.

Gold fell $26.80 to $1,550.40 per ounce, silver fell 11 cents to $17.53 per ounce and copper rose 4 cents to $2.55 per pound.

The dollar rose to 109.51 Japanese yen from 108.67 yen on Monday. The euro weakened to $1.1042 from $1.1063.

Markets in Europe and Asia finished higher.


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## bigdog

Health care and financial stocks led another milestone-setting rally on Wall Street Wednesday, extending the market’s gains for the week.

The Dow Jones Industrial Average climbed more than 480 points and the S&P 500 index and Nasdaq composite each hit an all-time high.

The latest gains came as another batch of solid corporate earnings reports and encouraging economic data overshadowed concerns about the potential economic fallout from the virus outbreak that originated in China.

The latest jobs survey by payroll processor ADP indicated hiring accelerated better than expected last month. A separate report showed economic activity increased in January.

“The earnings numbers that we've gotten for the most part have been pretty solid, and the ADP report was a blowout on the good side,” said Scott Ladner, chief investment officer for Horizon Investments.

The S&P 500 index rose 37.10 points, or 1.1%, to 3,334.69. The Dow climbed 483.22 points, or 1.7%, to 29,290.85. The average briefly climbed above 500 points.

The Nasdaq gained 40.71 points, or 0.4%, to 9,508.68. The index, which is heavily weighted with technology stocks, also notched a record high on Tuesday.

The Russell 2000 index of smaller company stocks picked up 25.15 points, or 1.5%, to 1,681.92.

The S&P/ASX 200 index looks set to jump higher on Thursday following another positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to rise 55 points or 0.8% at the open.










https://www.newser.com/article/dacc...nd-rally-sp-500-nasdaq-at-all-time-highs.html

*US stocks extend rally; S&P 500, Nasdaq at all-time highs *
By ALEX VEIGA, Associated Press
23 minutes ago 

Health care and financial stocks led another milestone-setting rally on Wall Street Wednesday, extending the market’s gains for the week.

The Dow Jones Industrial Average climbed more than 480 points and the S&P 500 index and Nasdaq composite each hit an all-time high.

The latest gains came as another batch of solid corporate earnings reports and encouraging economic data overshadowed concerns about the potential economic fallout from the virus outbreak that originated in China.

The latest jobs survey by payroll processor ADP indicated hiring accelerated better than expected last month. A separate report showed economic activity increased in January.

“The earnings numbers that we've gotten for the most part have been pretty solid, and the ADP report was a blowout on the good side,” said Scott Ladner, chief investment officer for Horizon Investments.

The S&P 500 index rose 37.10 points, or 1.1%, to 3,334.69. The Dow climbed 483.22 points, or 1.7%, to 29,290.85. The average briefly climbed above 500 points.

The Nasdaq gained 40.71 points, or 0.4%, to 9,508.68. The index, which is heavily weighted with technology stocks, also notched a record high on Tuesday.

The Russell 2000 index of smaller company stocks picked up 25.15 points, or 1.5%, to 1,681.92.

Markets in Europe and Asia closed higher.

Industrial and technology stocks also helped lift the market. Crude oil prices jumped 2.3%, giving energy stocks a boost. Exxon Mobil gained 4.6%.

Real estate stocks were the only decliners as investors shifted away from safe-play holdings and took on more risk. The yield on the 10-year Treasury rose to 1.64% from 1.60% late Tuesday.

The recent virus outbreak has infected more than 24,500 people globally, but has been mostly confined to China. The world's second largest company remains on lockdown and companies continue to warn of an expected impact to revenue and profit, though the extent of the damage for many remains unclear.

Tesla plunged 17.2% on reports that the shutdowns in China will delay production at its Shanghai factory. The company warned investors last week that production delays in China were possible.

Anxiety about the outbreak fueled a mid-January slump for U.S. stocks, but investors appear to have set aside those jitters this month.

“We're not only focused on what's going on with this virus, we're focused on all the other things that are out there, and all the other things that are out there are systematically and consistently positive,” Ladner said.

Investors got more encouraging news about the U.S. economy on Wednesday. Payroll processor ADP said that private U.S. companies added 291,000 jobs in January, a big increase from December. The report came out ahead of the Labor Department’s release of its January jobs tally on Friday. Many analysts expect that report will show a job gain of 150,000 in January, compared to 145,000 jobs in the government’s report in December.

Meanwhile, the Institute for Supply Management said its index of business activity by service sector companies increased in January, an indicator of continued steady expansion of the economy.

Traders also continued to weigh a mixed batch of company earnings reports Wednesday.

Versace parent Capri Holdings jumped 8.3% and CoverGirl owner Coty vaulted 14.5% for some of the strongest gains as Wall Street rewarded their latest quarterly results, which easily beat analysts' forecasts.

Humana climbed 6.4% after the health insurer reported surprisingly good fourth-quarter profit and revenue.

Merck fell 2.9% after the drug maker reported weak fourth-quarter revenue and said it will spin off some of its operations, including the women’s health division.

Ford slumped 9.5% after the automaker reported weak fourth-quarter earnings to cap off a disappointing year. The company’s profit plunged in 2019 because of slowing sales, the cost of a botched SUV launch and some big pension expenses. It also gave investors a weak profit forecast for 2020.

So far, about 53% of S&P 500 companies have reported their results for the October-December quarter. Of those companies, nearly 70% have issued results that beat analysts' forecasts for profits, according to S&P Global Market Intelligence.

Investors also bid up shares in Macy’s after the department store giant said it will cut 2,000 corporate jobs and close 125 of its least productive stores. The store closures represent about one fifth of Macy's current total. The stock climbed 6%.

Benchmark crude oil rose $1.14 to settle at $50.75 a barrel. Brent crude oil, the international standard, gained $1.32 to close at $55.28 a barrel. Wholesale gasoline rose 5 cents to $1.49 per gallon. Heating oil climbed 7 cents to $1.65 per gallon. Natural gas fell 1 cent to $1.86 per 1,000 cubic feet.

Gold rose $7.40 to $1,557.80 per ounce, silver rose 4 cents to $17.57 per ounce and copper rose 3 cents to $2.58 per pound.

The dollar rose to 109.83 Japanese yen from 109.51 yen on Tuesday. The euro weakened to $1.0997 from $1.1042.


----------



## bigdog

Stocks closed higher on Wall Street Thursday, extending the market’s solid rebound this week and delivering another round of record highs for the major indexes.

The S&P 500 index, Dow Jones Industrial Average and Nasdaq each hit all-time highs as they extended their winning streak to a fourth day.

The latest gains came as investors assessed more company earnings reports. China’s decision to cut tariffs on $75 billion of U.S. imports also helped keep investors in a buying mood. The reductions, which follow U.S. tariff cuts last month on Chinese goods, are part of a previously signed “Phase 1” trade agreement with Washington.

“It's certainly good news and something unexpected,” said Sam Stovall, chief investment strategist at CFRA. “The Chinese, in a sense, are showing deference and offering an olive branch to the U.S. ahead of the ‘Phase 2’ negotiations."

The S&P 500 index rose 11.09 points, or 0.3%, to 3,345.78. The Dow gained 88.92 points, or 0.3%, to 29,379.77. The Nasdaq climbed 63.47 points, or 0.7%, to 9,572,15. The Russell 2000 index of smaller company stocks fell 4.46 points, or 0.3%, to 1,677.46.

Markets in Europe and Asia finished broadly higher.

The S&P/ASX 200 index looks set to continue its positive run on Friday after Wall Street pushed higher for a fourth session in a row. According to the latest SPI futures, the ASX 200 is poised to rise 10 points or 0.15% at the open.










https://www.usnews.com/news/busines...ut-gains-in-early-trading-after-gains-in-asia

*Stocks Post 4th Gain in a Row, Extending a Weeklong Rally*
Stocks are ending mostly higher on Wall Street, enough to extend the market's gains to a fourth straight day.
By Associated Press, Wire Service Content Feb. 6, 2020, at 4:54 p.m.

By ALEX VEIGA, AP Business Writer

Stocks closed higher on Wall Street Thursday, extending the market’s solid rebound this week and delivering another round of record highs for the major indexes.

The S&P 500 index, Dow Jones Industrial Average and Nasdaq each hit all-time highs as they extended their winning streak to a fourth day.

The latest gains came as investors assessed more company earnings reports. China’s decision to cut tariffs on $75 billion of U.S. imports also helped keep investors in a buying mood. The reductions, which follow U.S. tariff cuts last month on Chinese goods, are part of a previously signed “Phase 1” trade agreement with Washington.

“It's certainly good news and something unexpected,” said Sam Stovall, chief investment strategist at CFRA. “The Chinese, in a sense, are showing deference and offering an olive branch to the U.S. ahead of the ‘Phase 2’ negotiations."

The S&P 500 index rose 11.09 points, or 0.3%, to 3,345.78. The Dow gained 88.92 points, or 0.3%, to 29,379.77. The Nasdaq climbed 63.47 points, or 0.7%, to 9,572,15. The Russell 2000 index of smaller company stocks fell 4.46 points, or 0.3%, to 1,677.46.

Markets in Europe and Asia finished broadly higher.

Bond prices rose. The yield on the 10-year Treasury slipped to 1.64% from 1.65% late Wednesday.

China’s tariff reductions apply to several categories of U.S. imports, including pork, soybeans and auto parts. The cuts follow last month's signing of a "Phase 1" agreement toward ending a long-running tariff war over Beijing's technology ambitions and trade surplus. Both sides have made conciliatory gestures, but the lingering dispute threatens to chill global economic growth.

Beijing is also promising tax cuts and other help to businesses in a bid to offset the economic blow from the virus outbreak that has put the world's second-largest economy on lockdown. Companies continue to warn of an expected impact to revenue and profit, though the extent of the damage for many remains unclear.

Worries about the potential global economic fallout from the outbreak spurred a mid-January slump for U.S. stocks. Investors appear to have set aside those concerns this week, focusing instead on encouraging U.S. economic data and company earnings reports.

Cognizant led the gainers in the technology sector Thursday, vaulting 9.8%. The information technology consulting firm’s fourth-quarter earnings topped Wall Street’s expectations.

Twitter surged 15% after the messaging service reported surprisingly good growth for daily users and solid revenue in the fourth quarter. The most recent quarter marks the first time the company’s revenue topped $1 billion. The stock’s gains helped pull the communication services sector higher.

Industrial stocks and household goods makers also rose. Those gains were outweighed by losses in energy stocks, banks and companies that rely on consumer spending.

Traders welcomed solid quarterly results from Coach parent Tapestry. The company, which also owns Kate Spade, warned investors about a potential hit to its sales and profit because of the virus outbreak in China. Its shares rose 2.1%.

Yum Brands fell 2.8% after the operator of Pizza Hut, Taco Bell, and KFC restaurants reported weak fourth-quarter profit. The company also faces financial pain moving forward from the virus outbreak impact. China made up 27% of KFC's total sales and 17% of Pizza Hut's sales in the fourth quarter.

Online mattress pioneer Casper Sleep jumped 12.5% in its stock market debut. The company, which was founded in 2014, has expanded beyond online selling, opening 60 Casper stores and selling to 18 retail partners like Target and Amazon. It has plans to eventually expand to more than 200 stores in North America.

The government will release its closely watched monthly jobs report on Friday, along with several other economic indicators. A solid jobs market has been a key factor behind the strong U.S. economy. Economists expect the January jobs report to show more growth and they expect the unemployment to remain stable at 3.5%.

Benchmark crude oil rose 20 cents to settle at $50.95 a barrel. Brent crude oil, the international standard, fell 35 cents to close at $54.93 a barrel. Wholesale gasoline rose 1 cent to $1.50 per gallon. Heating oil climbed 2 cents to $1.67 per gallon. Natural gas was unchanged at $1.86 per 1,000 cubic feet.

Gold rose $7.30 to $1,565.10 per ounce, silver rose 22 cents to $17.79 per ounce and copper rose 2 cents to $2.60 per pound.

The dollar rose to 109.97 Japanese yen from 109.83 yen on Wednesday. The euro weakened to $1.0995 from $1.0997.


----------



## bigdog

Wall Street closed out the market’s best week in eight months Friday with a broad slide as technology and health care stocks gave back some of their recent gains.

The pullback, which followed a sell-off in markets around the world, snapped a four-day winning streak for the major U.S. stock indexes. Even so, the benchmark S&P 500 notched its biggest weekly gain since June.

Stocks rallied strongly for most of the week, erasing all their earlier losses from worries about the severity of the economic fallout from a new virus from China that’s rapidly spreading. Stronger-than-expected reports on corporate profits and the U.S. economy helped assuage the fears, as did increasing hope that central banks and governments around the world can support markets with rate cuts and stimulus.

But with health experts still unsure about how far the virus will spread, how deadly it may be and how much damage it will ultimately cause the global economy, many investors opted to sell Friday to lock in some of their recent gains in case there are potential negative headlines about the outbreak over the weekend.

“The market is trying to digest all of this going into the weekend after a pretty volatile past couple of weeks,” said Ben Phillips, chief investment officer at Eventshares. “This is just a little profit-taking because there are still these risks out there and it's unclear if this coronavirus really does drive a broader global market slowdown.”

The S&P 500 fell 18.07 points, or 0.5%, to 3,327.71. That trims its gain for the week to 3.2%, which is still its best performance since June. The Dow Jones Industrial Average dropped 277.26 points, or 0.9%, to 29,102.51. The Nasdaq slid 51.64 points, or 0.5%, to 9,520.51.














6 month





https://www.usnews.com/news/busines...on-wall-street-still-on-track-for-weekly-gain

*S&P 500 Slips for First Time This Week as Momentum Stalls*
Stocks closed lower for the first time this week but still had their best weekly gain since June.
By Associated Press, Wire Service Content Feb. 7, 2020, at 4:58 p.m.

By ALEX VEIGA and STAN CHOE, AP Business Writers

Wall Street closed out the market’s best week in eight months Friday with a broad slide as technology and health care stocks gave back some of their recent gains.

The pullback, which followed a sell-off in markets around the world, snapped a four-day winning streak for the major U.S. stock indexes. Even so, the benchmark S&P 500 notched its biggest weekly gain since June.

Stocks rallied strongly for most of the week, erasing all their earlier losses from worries about the severity of the economic fallout from a new virus from China that’s rapidly spreading. Stronger-than-expected reports on corporate profits and the U.S. economy helped assuage the fears, as did increasing hope that central banks and governments around the world can support markets with rate cuts and stimulus.

But with health experts still unsure about how far the virus will spread, how deadly it may be and how much damage it will ultimately cause the global economy, many investors opted to sell Friday to lock in some of their recent gains in case there are potential negative headlines about the outbreak over the weekend.

“The market is trying to digest all of this going into the weekend after a pretty volatile past couple of weeks,” said Ben Phillips, chief investment officer at Eventshares. “This is just a little profit-taking because there are still these risks out there and it's unclear if this coronavirus really does drive a broader global market slowdown.”

The S&P 500 fell 18.07 points, or 0.5%, to 3,327.71. That trims its gain for the week to 3.2%, which is still its best performance since June. The Dow Jones Industrial Average dropped 277.26 points, or 0.9%, to 29,102.51. The Nasdaq slid 51.64 points, or 0.5%, to 9,520.51.

Smaller company stocks bore the brunt of the selling. The Russell 2000 index lost 20.68 points, or 1.2%, to 1,656.78. Stocks markets in Europe and Asia also closed lower.

Uncertainty over the outbreak overshadowed the latest encouraging data point on the U.S. economy. A government report Friday showed that many more jobs were created in January than economists expected. Employers added 225,000 last month, comfortably above forecasts for 161,500 and December’s pace of 147,000.

Economic reports from outside the United States, meanwhile, were more discouraging and helped lead markets lower before trading opened in New York.

In a sign of the market's caution, Treasury yields fell as prices for ultra-safe U.S. government bonds rose. The yield on the 10-year Treasury dropped to 1.58% from 1.64% late Thursday.

The encouraging U.S. jobs report notwithstanding, the big wild card for the economy is how much damage the outbreak of a virus spreading from China will do.

The virus has infected more than 31,400 people around the world, and killed more than 630, nearly all of them in China. The director-general of the World Health Organization said Friday that a drop in the number of new virus cases for two days is “good news” but also cautioned against reading too much into that.

Chinese factories and offices are starting to reopen following an extended Lunar New Year holiday, but companies are forecasting big revenue declines due to the closure of stores, amusement parks, cinemas and other businesses.

Japan's Fast Retailing announced it has closed 350 stores, or about half of its 750 outlets in China to comply with quarantine regulations, while Toyota Motor said it was extending production stoppages at its China factories by an extra week, to Feb. 16. Nissan Motor said January sales of the company and its local partners fell nearly 12% in January from a year earlier due to the virus outbreak and the prolonged holidays.

Investors were encouraged earlier this week after China promised tax cuts and other help to businesses in a bid to offset the economic blow from the outbreak. Beijing also cut tariffs on $75 billion of U.S. imports as part of a “Phase 1” trade deal with Washington signed last month.

“They’ve pumped in $200 billion of liquidity in their markets and they’re doing lots of other things to goose their economy,” Phillips said. “You’re going to see some slower growth in China this year.”

Payment products company FleetCor Technologies led the tech sector slide Friday, dropping 6.7%. Abiomed was the biggest decliner in the health care sector, falling 4.6%.

Financial, industrial and material stocks also fell, outweighing slight gains by household goods makers and communication services and real estate companies.

Benchmark U.S. crude fell 63 cents to settle at $50.32 per barrel. It dropped below $50 earlier this week, after being above $60 toward the start of the year. Brent crude, the international standard, slid 46 cents to close at $54.47 per barrel.

The price of crude oil has swung violently in recent weeks with worries about the virus, and how much it will sap away demand for fuel because of drop-offs in tourism, travel and other economic activity.

The latest drop in oil prices weighed on energy stocks. Halliburton fell 2.1%.

Energy stocks in the S&P 500 are down 11.5% over the last month. Every other sector in the S&P 500 is up over the same time.

In other commodities trading, wholesale gasoline rose 2 cents to $1.52 per gallon. Heating oil declined 3 cents to $1.64 per gallon. Natural gas was unchanged at $1.86 per 1,000 cubic feet.

Gold rose $3.50 to $1,568.60 per ounce, silver fell 12 cents to $17.67 per ounce and copper fell 4 cents to $2.56 per pound.

The dollar fell to 109.74 Japanese yen from 109.97 yen on Thursday. The euro weakened to $1.0946 from $1.0997.

628


----------



## bigdog

The S&P/ASX 200 index looks set to start the week on a mildly positive note. According to the latest SPI futures, the ASX 200 is poised to edge 7 points or 0.1% at the open.


----------



## bigdog

Stocks closed broadly higher on Wall Street Monday, sending the S&P 500 and Nasdaq indexes to all-time highs.

Technology stocks accounted for much of the rally, which added to the market’s gains from last week. Retailers, restaurant chains and other companies that rely on consumer spending also notched solid gains.

Traders also shifted money into U.S. government bonds, sending yields lower, and they bid up the price of gold. Both can signal uneasiness in the market. Investors mostly shunned energy and materials stocks , which depend upon economic growth more than other sectors do.

The latest gyrations in the market come as investors weigh encouraging U.S. economic data and company earnings against lingering uncertainty over the potential global economic fallout from the virus outbreak in China.

"If this virus didn't exist, there would be a lot of good things for the market to hang on to,” said Brian Nick, chief investment strategist at Nuveen. “It's prudent that you'd be paring back your cyclical bets, while trying to maintain a posture that will still benefit from what we think was going to be a positive year for the global economy and the markets.”

The S&P 500 index gained 24.38 points, or 0.7%, to 3,352.09. The index’s set record highs twice last week. The Dow Jones Industrial Average rose 174.31 points, or 0.6%, to 29,276.82.

The Nasdaq climbed 107.88 points, or 1.1%, to 9,628.39. The Russell 2000 index of smaller company stocks picked up 10.89 points, or 0.7%, to 1,667.67.

Markets in Europe and Asia closed mostly lower.

The S&P/ASX 200 index looks set to return to form on Tuesday. According to the latest SPI futures, the ASX 200 is poised to jump 43 points or 0.6% at the open.










https://www.usnews.com/news/busines...ndexes-wobble-in-early-trading-on-wall-street

*Technology Companies, Retailers Lead U.S. Stocks Higher*
Stocks are closing higher on Wall Street, led by gains in technology companies and retailers.
By Associated Press, Wire Service Content Feb. 10, 2020, at 5:12 p.m. 

By ALEX VEIGA, AP Business Writer

Stocks closed broadly higher on Wall Street Monday, sending the S&P 500 and Nasdaq indexes to all-time highs.

Technology stocks accounted for much of the rally, which added to the market’s gains from last week. Retailers, restaurant chains and other companies that rely on consumer spending also notched solid gains.

Traders also shifted money into U.S. government bonds, sending yields lower, and they bid up the price of gold. Both can signal uneasiness in the market. Investors mostly shunned energy and materials stocks , which depend upon economic growth more than other sectors do.

The latest gyrations in the market come as investors weigh encouraging U.S. economic data and company earnings against lingering uncertainty over the potential global economic fallout from the virus outbreak in China.

"If this virus didn't exist, there would be a lot of good things for the market to hang on to,” said Brian Nick, chief investment strategist at Nuveen. “It's prudent that you'd be paring back your cyclical bets, while trying to maintain a posture that will still benefit from what we think was going to be a positive year for the global economy and the markets.”

The S&P 500 index gained 24.38 points, or 0.7%, to 3,352.09. The index’s set record highs twice last week. The Dow Jones Industrial Average rose 174.31 points, or 0.6%, to 29,276.82.

The Nasdaq climbed 107.88 points, or 1.1%, to 9,628.39. The Russell 2000 index of smaller company stocks picked up 10.89 points, or 0.7%, to 1,667.67.

Markets in Europe and Asia closed mostly lower.

The yield on the 10-year Treasury edged lower to 1.56% from 1.57% late Friday.

Wall Street kicked off this week following the biggest weekly gain for the benchmark S&P 500 index since June. Stronger-than-expected company earnings reports and solid economic data on hiring have helped assuage traders’ fears over the virus outbreak in China. Investors are also feeling hopeful that central banks and governments around the world can support markets with rate cuts and stimulus.

Businesses around the world are continuing to feel the impact of the new corona virus. Sony and Amazon became the latest companies to pull out of a major European technology show due to fears over the outbreak.

The virus has now infected more than 40,600 people, with most of those cases and almost all the deaths occurring in China. The world’s second-largest economy has been taking more measures to soften the economic blow, including funding low-interest loans to businesses while promising tax cuts and subsidies.

"It seems like whatever kind of momentum there might have been in the global economy has been arrested for now,” said Nick. “And, if you do see a stabilization, it's going to be a delayed one that probably takes place more in the second quarter or third quarter."

I nvestors continued to bet that stocks, particularly technology companies, will weather any economic bumps from the outbreak. Chipmakers led the sector’s gains Monday. Advanced Micro Devices climbed 5% and Nvidia rose 4.5%. Microsoft added 2.6%.

Amazon led a rally in consumer-focused companies, which include restaurant chains, homebuilders and car dealership operators. The online retail giant rose 2.7%. Home Depot climbed 1.4%.

Strong earnings helped push Botox maker Allergan 1.3% higher.

Exxon Mobil dropped 1.1% along with most other energy stocks after U.S. crude oil fell 1.5%.

Taubman Centers soared 53.2% after the mall operator agreed to be acquired by rival Simon Property Group in a deal valued at around $3.6 billion. Taubman manages or leases 26 shopping centers in the U.S. and Asia. Simon, the nation's largest operator of shopping malls, owns or has a stake in 204 properties in the U.S. Shares in Simon rose 1.4%.

Edgewell Personal Care surged 27.5% after the owner of Schick razors said it would end its $1.37 billion buyout pursuit for upstart shaving company Harry’s. Edgewell, the No. 2 razor maker in the U.S., behind Gillette, made the decision shortly after the Federal Trade Commission sued to block the sale.

Xerox rose 1.4% after the copier maker raised its offer for computer and printer maker HP to nearly $35 billion. HP, which rose 0.8%, had rejected a prior bid that it considered too low. Both companies are struggling as the demand for printed documents and ink have waned, and both are cutting costs.

Companies are more than halfway through their latest round of earnings and 65 companies in the S&P 500 will report this week. Toy maker Hasbro and hotel operator Hilton will release results on Tuesday. CVS Health will release its results on Wednesday and Kraft Heinz will report earnings on Thursday.

Investors will also have several economic reports to consider this week, including the government’s consumer price index update for January, along with retail sales and industrial production reports.

Benchmark crude oil fell 75 cents to settle at $49.57 a barrel. Brent crude oil, the international standard, dropped $1.20 to close at $53.27 a barrel. Wholesale gasoline was unchanged at $1.52 per gallon. Heating oil fell 3 cents to $1.61 per gallon. Natural gas fell 9 cents to $1.77 per 1,000 cubic feet.

Gold rose $6.10 to $1,574.70 per ounce, silver rose 10 cents to $17.76 per ounce and copper was unchanged at $2.56 per pound.

The dollar fell to 109.70 Japanese yen from 109.74 yen on Friday. The euro weakened to $1.0914 from $1.0946.


----------



## bigdog

Major U.S. stock indexes closed mostly higher Tuesday, led by health care companies, retailers and banks.

The modest gains nudged the S&P 500 and Nasdaq to all-time highs for the second straight day. The Dow Jones Industrial Average finished essentially flat.

Investors weighed another batch of mostly solid company earnings reports. Sprint soared after a federal judge cleared a major obstacle to the company being acquired by T-Mobile. Microsoft and Facebook slumped after federal regulators announced they've ramped up an antitrust probe into the two companies as well as Amazon, Apple and Google parent Alphabet.

Cruise operators, hotels and other companies that focus on travel made solid gains, the latest sign that traders are feeling less worried about the economic impact from the virus outbreak that began in China.

“Stocks are collectively saying, ‘hey, maybe we can work past some of the noise with the virus; maybe the fallout won’t be as big as we thought," said Willie Delwiche, investment strategist at Baird. “And the U.S. economy, so far at least, looks like it's weathering it pretty well.”

The S&P 500 index rose 5.66 points, or 0.2%, to 3,357.75. The Dow Jones Industrial Average slipped 0.48 points, or less than 0.1%, to 29,276.34. It had been up 0.5%.

The Nasdaq composite gained 10.55 points, or 0.1%, to 9,638.94. The Russell 2000 index of smaller company stocks picked up 9.85 points, or 0.6%, to 1,677.51.

Markets in Europe and Asia rose.

The S&P/ASX 200 index looks set to edge higher on Wednesday. According to the latest SPI futures, the ASX 200 is poised to rise 0.1% or 6 points at the open.










https://www.usnews.com/news/busines...ening-higher-on-wall-street-led-by-technology

*US Stocks Extend Gains as Investors Focus on Latest Earnings*
Stocks are closing mostly higher as investors weigh another round of mostly solid company earnings reports.
By Associated Press, Wire Service Content Feb. 11, 2020, at 5:01 p.m.

By ALEX VEIGA, AP Business Writer

Major U.S. stock indexes closed mostly higher Tuesday, led by health care companies, retailers and banks.

The modest gains nudged the S&P 500 and Nasdaq to all-time highs for the second straight day. The Dow Jones Industrial Average finished essentially flat.

Investors weighed another batch of mostly solid company earnings reports. Sprint soared after a federal judge cleared a major obstacle to the company being acquired by T-Mobile. Microsoft and Facebook slumped after federal regulators announced they've ramped up an antitrust probe into the two companies as well as Amazon, Apple and Google parent Alphabet.

Cruise operators, hotels and other companies that focus on travel made solid gains, the latest sign that traders are feeling less worried about the economic impact from the virus outbreak that began in China.

“Stocks are collectively saying, ‘hey, maybe we can work past some of the noise with the virus; maybe the fallout won’t be as big as we thought," said Willie Delwiche, investment strategist at Baird. “And the U.S. economy, so far at least, looks like it's weathering it pretty well.”

The S&P 500 index rose 5.66 points, or 0.2%, to 3,357.75. The Dow Jones Industrial Average slipped 0.48 points, or less than 0.1%, to 29,276.34. It had been up 0.5%.

The Nasdaq composite gained 10.55 points, or 0.1%, to 9,638.94. The Russell 2000 index of smaller company stocks picked up 9.85 points, or 0.6%, to 1,677.51.

Markets in Europe and Asia rose.

Bond prices fell, sending bond yields higher. The 10-year Treasury yield rose to 1.60% from 1.54% late Monday.

After a downbeat January, U.S. stocks have been mostly notching gains this month as traders brush off fears about the virus outbreak and its impact on businesses and the global economy. Beijing has promised to take measures to soften the blow to China’s economy and investors are hopeful that other governments will do the same if necessary.

China remained mostly closed for business Tuesday as the daily death toll from a new virus topped 100 for the first time, pushing the total deaths above 1,000. The outbreak has infected more than 43,000 people globally, though most of the cases and deaths are in China.

Travel-related stocks, which have been hammered by traders in recent weeks, notched gains Tuesday. Hilton Worldwide rose 1.4%, Carnival climbed 2.8% and American Airlines gained 3.6%.

Wall Street got some encouragement Tuesday from Federal Reserve Chairman Jerome Powell. In his semiannual monetary report to Congress, Powell said it was too early to assess the threat the virus poses to the U.S. economy, but he noted that the economy “is in a very good place” with strong job creation and moderate growth.

Traders welcomed a federal judge’s decision to reject claims by a group of states arguing T-Mobile’s proposed $26.5 billion buyout of rival Sprint would mean less competition and higher phone bills. Shares in Sprint surged 77.5%, while T-Mobile jumped 11.8%.

Meanwhile, the Federal Trade Commission said Tuesday it has ordered Facebook, Amazon, Apple, Microsoft and Google's parent Alphabet to turn over detailed information on their acquisitions going back to 2010 as part of an investigation into the five giant tech companies' market dominance.

The FTC, the Justice Department and a House committee have been investigating the conduct of big tech companies and whether they aggressively bought potential rivals to suppress competition. Some critics have pointed to Facebook's acquisition of Instagram and WhatsApp, for example, as deals that should be questioned.

Microsoft slid 2.3%, Facebook fell 2.8% and Apple dropped 0.6%. Amazon rose 0.8%, while Alphabet inched up 0.1%.

Investors also assessed the latest batch of company earnings reports Tuesday.

AutoNation climbed 6.3% after the car dealership’s latest quarterly results topped Wall Street’s forecasts, aided by higher demand for used cars.

Cloud-based phone system provider RingCentral also posted surprisingly good earnings and issued a solid forecast. The stock rose 6.8%.

Strong fourth-quarter results also gave shares in Brighthouse Financial a boost. Shares in the annuity and life insurance company, which announced a $500 million share buyback program, jumped 10.7%.

Results from other companies failed to impress traders.

Goodyear Tire & Rubber slumped 12.4% after the tire maker's fourth-quarter earnings and revenue fell short of Wall Street forecasts.

Under Armour plunged 18.9% after the athletic gear company said it may need to restructure this year, which may involve scuttling the opening of its New York City flagship store. The company also gave investors a weak profit forecast for the year and said the virus outbreak in China will drag first-quarter sales down by $50 million to $60 million.

Benchmark crude oil rose 37 cents to settle at $49.94 a barrel. Brent crude oil, the international standard, gained 74 cents to close at $54.01 a barrel. Wholesale gasoline fell 1 cent to $1.51 per gallon. Heating oil climbed 2 cents to $1.63 per gallon. Natural gas rose 2 cents to $1.79 per 1,000 cubic feet.

Gold fell $9.10 to $1,565.60 per ounce, silver fell 19 cents to $17.57 per ounce and copper rose 3 cents to $2.59 per pound.

The dollar rose to 109.76 Japanese yen from 109.70 yen on Monday. The euro strengthened to $1.0922 from $1.0914.


----------



## bigdog

Stocks closed broadly higher on Wall Street Wednesday, driving the S&P 500 and Nasdaq indexes to more record highs.

Technology stocks powered much of the rally as investors focused on the latest batch of mostly solid company earnings reports. The latest gains came as worries about the economic impact of the virus outbreak that originated in China continued to subside.

Health officials raised hopes that the spread of the virus is peaking after new cases dropped for a second straight day. Worries about the economic impact of the outbreak fueled a wave of selling that erased the market's gains in January, but traders have since largely set aside their jitters.

The S&P 500 index is up 4.8% so far this month, on pace for its biggest monthly gain since June.

“You have the continuing good news on the coronavirus potentially slowing and being under control, and that's obviously powerful,” said Tom Martin, senior portfolio manager with Globalt Investments.

The S&P 500 index rose 21.70 points, or 0.6%, to 3,379.45. The Nasdaq climbed 87.02 points, or 0.9%, to 9,725.96. Both indexes have set all-time closing highs every day this week.

The Dow Jones Industrial Average gained 275.08 points, or 0.9%, to 29,551.42. The Russell 2000 index of smaller company stocks picked up 11.86 points, or 0.7%, to 1,689.38.

Major indexes in Europe and Asia finished higher.

The S&P/ASX 200 index is expected to jump higher on Thursday after a very positive night of trade in the United States. According to the latest SPI futures, the ASX 200 is poised to 34 points or 0.5% higher at the open.










https://www.usnews.com/news/busines...ings-send-stock-indexes-higher-on-wall-street

*Solid Earnings Send Stock Indexes Higher on Wall Street*
Stocks are closing broadly higher on Wall Street Wednesday, driving the S&P 500 and Nasdaq indexes to more record highs.
By Associated Press, Wire Service Content Feb. 12, 2020, at 5:10 p.m.

By ALEX VEIGA, AP Business Writer

Stocks closed broadly higher on Wall Street Wednesday, driving the S&P 500 and Nasdaq indexes to more record highs.

Technology stocks powered much of the rally as investors focused on the latest batch of mostly solid company earnings reports. The latest gains came as worries about the economic impact of the virus outbreak that originated in China continued to subside.

Health officials raised hopes that the spread of the virus is peaking after new cases dropped for a second straight day. Worries about the economic impact of the outbreak fueled a wave of selling that erased the market's gains in January, but traders have since largely set aside their jitters.

The S&P 500 index is up 4.8% so far this month, on pace for its biggest monthly gain since June.

“You have the continuing good news on the coronavirus potentially slowing and being under control, and that's obviously powerful,” said Tom Martin, senior portfolio manager with Globalt Investments.

The S&P 500 index rose 21.70 points, or 0.6%, to 3,379.45. The Nasdaq climbed 87.02 points, or 0.9%, to 9,725.96. Both indexes have set all-time closing highs every day this week.

The Dow Jones Industrial Average gained 275.08 points, or 0.9%, to 29,551.42. The Russell 2000 index of smaller company stocks picked up 11.86 points, or 0.7%, to 1,689.38.

Major indexes in Europe and Asia finished higher.

Bond prices fell. The yield on the 10-year Treasury rose to 1.63% from 1.59% late Tuesday.

Stronger-than-expected company earnings reports and positive U.S. economic data have helped keep investors in a buying mood. Traders are also banking that central banks and governments around the world will support markets with rate cuts and stimulus to stem any potential economic fallout from the virus outbreak.

Investors got some encouraging news Wednesday when health officials reported that the number of new cases of the coronavirus in China declined for a second straight day. The outbreak has infected over 45,000 people worldwide and killed more than 1,100.

Meanwhile, Chinese President Xi Jinping promised tax cuts and other aid to industry as the ruling Communist Party tries to limit the mounting damage to the economy.

Shares in companies focusing on travel made some of the strongest gains Wednesday. United Airlines rose 2.1%, Wynn Resorts climbed 3.7% and Royal Caribbean Cruises gained 3.7%.

Cruise lines, hotels and other companies have been more sensitive than other companies to the spread of the virus.

Technology stocks led the broader market’s gains. Micron Technology climbed 3.5% and Apple rose 2.4%.

Companies that rely on consumer spending also did well. Nike gained 3% and Gap jumped 4.7%.

Communication services stocks notched solid gains. Twitter added 3.2% and video-game developer Activision Blizzard rose 2.6%.

Crude oil jumped 2.5%, which gave energy companies a boost. Hess led the gainers, climbing 4.7%. The energy sector remains the market’s worst-performer this year. It’s down 9.1%.

The pickup in bond yields weighed on several homebuilders, including Toll Brothers, which slid 1.6%. Mortgage rates tend to track the 10-year Treasury yield, so an increase in the yield means less attractive rates.

Utilities and household goods makers lagged the market in another sign that investors were more confident and shifting money into investments that carry more risk.

Investors continued to assess the latest company earnings reports.

Akamai Technologies rose 1.1% after the cloud services provider beat analysts' profit and revenue forecasts. Generic drug developer Teva jumped 9.1% and e-commerce company Shopify vaulted 7.8% after reporting solid financial results.

Ride-hailing service Lyft plunged 10.2%. Lyft stuck to a prediction that it won’t turn a profit until the fourth quarter of 2021. Rival Uber said earlier this month that it would make money in the fourth quarter of this year.

Wall Street appeared to largely ignore the outcome of Tuesday's Democratic presidential primary in New Hampshire, which Bernie Sanders won, edging out moderate rival Pete Buttigieg.

Despite Sanders' surge, it's still not clear which of the Democratic candidates will win the nomination, Martin noted.

“The feeling has been that Sanders, if he did become the candidate, has a platform that would not appeal to the country as a whole, so that if he was the candidate, Trump would easily beat him,” he said.

Sanders has energized young voters and liberals with his calls for a Medicare for All health care system and free college tuition, but moderates portray such policies as unrealistic and costly.

“As far as a more moderate candidate, those would be more competitive and that would be potentially a negative if you had a credible candidate that might make a national election between the Democrats and the Republicans competitive,” Martin said.

Benchmark crude oil rose $1.23 to settle at $51.17 a barrel. Brent crude oil, the international standard, gained $1.78 to close at $55.79 a barrel. Wholesale gasoline rose 7 cents to $1.58 per gallon. Heating oil climbed 5 cents to $1.68 per gallon. Natural gas rose 5 cents to $1.84 per 1,000 cubic feet.

Gold rose $1.80 to $1,567.40 per ounce, silver fell 9 cents to $17.48 per ounce and copper rose 2 cents to $2.61 per pound.

The dollar rose to 110.08 Japanese yen from 109.76 yen on Tuesday. The euro weakened to $1.0867 from $1.0922.


----------



## bigdog

Stocks closed lower on Wall Street Thursday as investors turned cautious following a surge in cases of a new virus in China that threatens to crimp economic growth and hurt businesses worldwide.

The modest losses snapped a three-day streak of record highs for the S&P 500 and Nasdaq composite. The selling marked only the second day this month that the market has declined.

Investors largely set aside worries about the economic impact of the virus outbreak the past two weeks. Markets rallied this week partly due to reports that the number of new cases of the new virus in China had declined.

Hopes that the spread of the virus had peaked were dashed Thursday, when China reported a sharp rise in cases and deaths after the hardest-hit province of Hubei took a new approach to classifying and diagnosing the virus.

“We’re in a data-dearth period in the sense that we’re not really going to know fully the effects of the impact of that on Asian and Chinese growth, as well as global growth, for at least several weeks,” said Lisa Erickson, head of traditional investments at U.S. Bank Wealth Management. “You’re just going to see some back-and-forth movement (in the market) until that time.”

The S&P 500 index dropped 5.51 points, or 0.2%, to 3,373.94. The Dow Jones Industrial Average slid 128.11 points, or 0.4%, to 29,423.31. It was down as much as 205 points earlier.

The Nasdaq fell 13.99 points, or 0.1%, to 9,711.97. The Russell 2000 index of smaller company stocks rose 4.36 points, or 0.3%, to 1,693.74.

Markets in Europe and Asia finished mostly lower. The yield on the 10-year Treasury held steady at 1.62%.

The S&P/ASX 200 index looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is poised to rise 10 points or 0.15% at the open.










https://www.usnews.com/news/busines...pen-lower-on-wall-street-as-virus-cases-spike

*US Stocks Edge Mostly Lower After China Virus Cases Spike*
Stocks are ending a wobbly day mostly lower as investors turn cautious following news of a surge in cases of the new virus in China.
By Associated Press, Wire Service Content Feb. 13, 2020, at 4:55 p.m. 

By ALEX VEIGA, AP Business Writer

Stocks closed lower on Wall Street Thursday as investors turned cautious following a surge in cases of a new virus in China that threatens to crimp economic growth and hurt businesses worldwide.

The modest losses snapped a three-day streak of record highs for the S&P 500 and Nasdaq composite. The selling marked only the second day this month that the market has declined.

Investors largely set aside worries about the economic impact of the virus outbreak the past two weeks. Markets rallied this week partly due to reports that the number of new cases of the new virus in China had declined.

Hopes that the spread of the virus had peaked were dashed Thursday, when China reported a sharp rise in cases and deaths after the hardest-hit province of Hubei took a new approach to classifying and diagnosing the virus.

“We’re in a data-dearth period in the sense that we’re not really going to know fully the effects of the impact of that on Asian and Chinese growth, as well as global growth, for at least several weeks,” said Lisa Erickson, head of traditional investments at U.S. Bank Wealth Management. “You’re just going to see some back-and-forth movement (in the market) until that time.”

The S&P 500 index dropped 5.51 points, or 0.2%, to 3,373.94. The Dow Jones Industrial Average slid 128.11 points, or 0.4%, to 29,423.31. It was down as much as 205 points earlier.

The Nasdaq fell 13.99 points, or 0.1%, to 9,711.97. The Russell 2000 index of smaller company stocks rose 4.36 points, or 0.3%, to 1,693.74.

Markets in Europe and Asia finished mostly lower. The yield on the 10-year Treasury held steady at 1.62%.

The major U.S. indexes wobbled for much of the day as investors weighed company earnings reports and the latest news on the virus outbreak in China.

The change in how Hubei determines and reports cases of the new virus pushed the number of cases worldwide to more than 60,000.

The spike came after two days in which the number of new cases dropped, complicating efforts to understand the trajectory of the outbreak.

Businesses have already been hurting due to the outbreak and more of them are warning that the effects will linger through the year. Organizers of the world’s biggest mobile technology fair cancelled the event, set to take place in Spain, because of health and safety concerns over the outbreak.

Travel-related companies fell broadly Thursday, shedding some of their gains from earlier in the week. Airlines helped pull industrial sector stocks lower. United Airlines fell 1.5%.

MGM Resorts International, which gets about 20% of its revenue from the gambling haven of Macau, pulled its profit forecast for 2020. The stock lost 5.5%. Cruise line operator Carnival slid 2%.

Technology and health care stocks were among the biggest decliners, along with companies that rely on consumer spending. Cisco Systems fell 5.2%, Mylan slid 2.3% and Hanesbrands dropped 2.6%.

Household goods makers, utilities, real estate companies and communication services stocks notched gains.

Fashion company Ralph Lauren warned that the viral outbreak cut into fourth-quarter sales by an estimated $55 million to $70 million. The stock fell 0.6%.

Alaska Air Group bucked the trend, adding 1.5% after the airline said it will cooperate more closely with American Airlines on West Coast service. The airlines asked for government permission to expand revenue-sharing to cover international flights in Seattle and Los Angeles.

Benchmark crude oil rose 25 cents to settle at $51.42 a barrel. Brent crude oil, the international standard, gained 55 cents to close at $56.34 a barrel. Wholesale gasoline was unchanged at $1.58 per gallon. Heating oil was also unchanged at $1.68 per gallon. Natural gas fell 1 cent to $1.83 per 1,000 cubic feet.

Gold rose $7.70 to $1,575.10 per ounce, silver rose 12 cents to $17.60 per ounce and copper rose 1 cent to $2.62 per pound.

The dollar fell to 109.79 Japanese yen from 110.08 yen on Wednesday. The euro weakened to $1.0843 from $1.0867.


----------



## bigdog

Wall Street closed out a wobbly day of trading Friday with the major stock indexes notching their second straight weekly gain.

The S&P 500 and Nasdaq eked out tiny gains, good enough to nudge each to an all-time high for the fourth time this week. The Dow Jones Industrial Average ended with a slight loss.

Gains in the technology, real estate and utilities sectors outweighed losses in energy and industrial stocks, and in consumer-centric companies.

Trading was mostly subdued and cautious following China's report Thursday of a surge in cases of a new virus that raised fresh concerns about global economic growth.

“We were flat for most of the day,” said Quincy Krosby, chief market strategist at Prudential Financial. “But you're also seeing that there is concern. Gold is up, money has come into the bond market and the yields have come down.”

The mixed finish for the indexes likely indicates some traders elected to sell and pocket some profits ahead of the long holiday weekend to get ahead of potential negative headlines about the virus, analysts said. U.S. markets will be closed Monday for the President’s Day holiday.

The S&P 500 index rose 6.22 points, or 0.2%, to 3,380.16. The Nasdaq composite gained 19.21 points, or 0.2%, to 9,731.18. Both indexes had been down most of the afternoon.

The Dow dropped 25.23 points, or 0.1%, to 29,398.08.

Smaller company stocks finished lower. The Russell 2000 index slid 6.15 points, or 0.4%, to 1,687.58.










6 month





https://www.usnews.com/news/busines...tocks-rise-slightly-on-track-for-weekly-gains

*US Stocks Post Small Gains, Major Indexes up for the Week*
Stocks çlosed slightly higher on Wall Street Friday, as technology shares rose along with lower-risk sectors such as utilities.
By Associated Press, Wire Service Content Feb. 14, 2020, at 5:13 p.m.

By ALEX VEIGA, AP Business Writer

Wall Street closed out a wobbly day of trading Friday with the major stock indexes notching their second straight weekly gain.

The S&P 500 and Nasdaq eked out tiny gains, good enough to nudge each to an all-time high for the fourth time this week. The Dow Jones Industrial Average ended with a slight loss.

Gains in the technology, real estate and utilities sectors outweighed losses in energy and industrial stocks, and in consumer-centric companies.

Trading was mostly subdued and cautious following China's report Thursday of a surge in cases of a new virus that raised fresh concerns about global economic growth.

“We were flat for most of the day,” said Quincy Krosby, chief market strategist at Prudential Financial. “But you're also seeing that there is concern. Gold is up, money has come into the bond market and the yields have come down.”

The mixed finish for the indexes likely indicates some traders elected to sell and pocket some profits ahead of the long holiday weekend to get ahead of potential negative headlines about the virus, analysts said. U.S. markets will be closed Monday for the President’s Day holiday.

The S&P 500 index rose 6.22 points, or 0.2%, to 3,380.16. The Nasdaq composite gained 19.21 points, or 0.2%, to 9,731.18. Both indexes had been down most of the afternoon.

The Dow dropped 25.23 points, or 0.1%, to 29,398.08.

Smaller company stocks finished lower. The Russell 2000 index slid 6.15 points, or 0.4%, to 1,687.58.

European and Asian markets ended mixed.

Investors had largely set aside uncertainty about the potential economic fallout from the virus outbreak that originated in China the past two weeks. Stocks ended lower on Thursday for only the second time this month.

Businesses have been hurting due to the outbreak and more of them are warning that the effects will linger through the year.

Still, uncertainty over the economic impact of the outbreak has been tempered by signals out of China’s government, which has taken steps to shore up businesses from the fallout.

The Federal Reserve has also helped reassure investors. This week, Fed Chairman Jerome Powell said it was too early to assess the threat the virus poses to the U.S. economy, but he noted that the economy “is in a very good place” with strong job creation and moderate growth.

Technology companies led the gainers Friday. Chipmaker Nvidia was a standout, jumping 7% after it handily beat analysts’ profit forecasts for the fourth quarter.

The real estate and utilities sectors also held up well as government bond yields fell, making companies that pay higher dividends more attractive. Digital Realty Trust climbed 3.9% and American Water Works rose 1.7%.

Bond prices rose. The yield on the 10-year Treasury fell to 1.58% from 1.61% late Thursday.

Auto manufacturers, retailers and other companies that rely on consumer spending were among the decliners. Ford Motor dropped 1.8% and General Motors fell 1.5%. Target slid 1.4%.

Energy, industrial and financial sector stocks also declined. Marathon Oil slid 4.42, J.B. Hunt Transportation Services fell 3.6% and American International Group dropped 4.8%.

The price of U.S. crude oil closed 1.2% higher and notched its first weekly gain in six weeks. Benchmark crude oil rose 63 cents to settle at $52.05 a barrel. Brent crude oil, the international standard, gained 98 cents to close at $57.32 a barrel.

The slide in oil prices has weighed on energy stocks. The sector is the biggest loser in the S&P 500, down 10.2% so far this year.

Investors continued to assess corporate earnings reports Friday. Online travel company Expedia surged 11% and Sharpie maker Newell Brands rose 3% on solid earnings.

Canadian cannabis company Canopy Growth surged 15.8% after its latest quarterly results topped Wall Street's forecasts.

More than three quarters of S&P 500 companies have reported earnings and the results so far show solid growth. Companies are expected to report overall profit growth of just under 1% when all the reports are in, according to estimates from FactSet.

Several big companies are on deck to report results next week. Walmart will release its report on Tuesday and Deere will report on Friday.

Investors are heading into a shortened week that is light on economic reports. Stock and bond markets are closed on Monday for the Presidents’ Day holiday. On Wednesday, the government will issue its report on producer prices, which measures inflation pressures before they reach consumers. Also, the Federal Reserve will release minutes from its January meeting.

Wall Street will also get some updates on the health of the housing industry. The government will release data on housing starts on Wednesday and the National Association of Realtors will release January home sales data on Friday.

In other commodities trading Friday, wholesale gasoline was unchanged at $1.58 per gallon. Heating oil climbed 2 cents to $1.70 per gallon. Natural gas rose 1 cent to $1.84 per 1,000 cubic feet.

Gold rose $7.60 to $1,582.70 per ounce, silver rose 12 cents to $17.72 per ounce and copper fell 1 cent to $2.61 per pound.

The dollar fell to 109.76 Japanese yen from 109.79 yen on Thursday. The euro weakened to $1.0842 from $1.0843.

937


----------



## bigdog

The S&P/ASX 200 index looks set to start the week on a disappointing note. According to the latest SPI futures, the ASX 200 is poised to fall 17 points or 0.25% at the open.


----------



## bigdog

Wall Street remained closed Monday for Presidents' Day.

Global stocks mostly rose Monday, with Shanghai's benchmark jumping over 2% after the central bank rolled out support for the economy amid a virus outbreak that has infected over 71,000 people globally. Japan's market slumped, however, on weak economic growth figures.

Britain's FTSE 100 gained 0.3% to close at 7,433.25, while France's CAC 40 gained 0.3% to 6085.95. Germany's DAX added 0.3% as well to end the day at 13,783.89. Wall Street remained closed for Presidents' Day. Futures for the S&P 500 and the Dow Jones Industrial Average edged 0.2% higher in electronic trading.

The Shanghai Composite index jumped 2.3% to 2,983.62 after the central bank and government announced a slew of measures to support the economy as the country battles an outbreak of a new virus that has killed 1,774 people.

The Nikkei 225 index in Tokyo skidded 0.7%, to 23,523.24 after the government reported the economy contracted 6.3% in annual terms in the last quarter.

Elsewhere in the region, Sydney's S&P ASX/200 edged 1% lower to 7,125.10. South Korea's Kospi fell 0.1% to 2,242.17, while the Hang Seng in Hong Kong climbed 0.5% to 27,959.60. India's Sensex shed 0.4% to 41,082.82.

The People's Bank of China cut its one-year medium-term lending rate to 3.15% from 3.25%. It also injected some 300 billion yuan ($43 billion) into the markets through short-term purchases of securities and other injections of cash.

The S&P/ASX 200 index looks set to edge lower on Tuesday. According to the latest SPI futures, the ASX 200 is poised to drop 3 points at the open.

*Wall Street remained closed for Presidents' Day.*





*Rest of world trading on Monday*





https://www.usnews.com/news/busines...ts-mixed-japan-skids-china-helped-by-rate-cut

*Stocks Mostly Rise but Japan Skids on Stark Economic Data*
Global stocks mostly rose on Monday.
By Associated Press, Wire Service Content Feb. 17, 2020, at 11:56 a.m.

By ELAINE KURTENBACH, AP Business Writer

BANGKOK (AP) — Global stocks mostly rose Monday, with Shanghai's benchmark jumping over 2% after the central bank rolled out support for the economy amid a virus outbreak that has infected over 71,000 people globally. Japan's market slumped, however, on weak economic growth figures.

Britain's FTSE 100 gained 0.3% to close at 7,433.25, while France's CAC 40 gained 0.3% to 6085.95. Germany's DAX added 0.3% as well to end the day at 13,783.89. Wall Street remained closed for Presidents' Day. Futures for the S&P 500 and the Dow Jones Industrial Average edged 0.2% higher in electronic trading.

The Shanghai Composite index jumped 2.3% to 2,983.62 after the central bank and government announced a slew of measures to support the economy as the country battles an outbreak of a new virus that has killed 1,774 people.

The People's Bank of China cut its one-year medium-term lending rate to 3.15% from 3.25%. It also injected some 300 billion yuan ($43 billion) into the markets through short-term purchases of securities and other injections of cash.

Such moves will likely be followed by more, said Julian Evans-Pritchard of Capital Economics, given that many of the companies worst affected by the virus outbreak are smaller ones that lack access to loans from major state-run banks.

The government has also announced plans for tax cuts and other measures to help companies struggling with shut-downs of cities and plunging consumer spending and travel.

“We think the People's Bank of China will need to expand its re-lending quotas and relax constraints on shadow banking in order to direct more credit to struggling (small- and medium-sized companies),” Evans-Pritchard said in a commentary.

The Nikkei 225 index in Tokyo skidded 0.7%, to 23,523.24 after the government reported the economy contracted 6.3% in annual terms in the last quarter.

Analysts said the contraction in the Japanese economy, the world's third-largest, reflected the impact of typhoons, trade tensions and crimped consumer spending after the sales tax rose to 10% from 8% as of Oct. 1. The seasonally adjusted economic data was announced as Prime Minister Shinzo Abe faces pressure over spreading cases of the new viral illness COVID-19 and markets around the region see a mounting toll from its impact on travel and tourism as authorities strive to contain it.

“Consumer spending, which slumped following the tax hike in the fourth quarter of 2019, will now struggle to do anything except contract further in the first quarter as the impact of Covid-19 weighs on consumer sentiment, weighing in particular on the consumer services sector," analysts at ING bank wrote in a report to investors.

“Some further government spending may help to curb any further contraction in GDP beyond (the first quarter of 2020). But that will not stop what started off as a technical downturn from evolving into a full-blown recession," they said.

Elsewhere in the region, Sydney's S&P ASX/200 edged 1% lower to 7,125.10. South Korea's Kospi fell 0.1% to 2,242.17, while the Hang Seng in Hong Kong climbed 0.5% to 27,959.60. India's Sensex shed 0.4% to 41,082.82.

Benchmark U.S. crude oil picked up 7 cents to $52.12 per barrel in electronic trading on the New York Mercantile Exchange. It closed 1.2% higher on Friday, notching its first weekly gain in six weeks. Brent crude oil, the international standard, rose 2 cents to $57.34 a barrel.

The slide in oil prices has weighed on energy stocks. The sector is the biggest loser in the S&P 500, down 10.2% so far this year.

More than three quarters of S&P 500 companies have reported earnings and the results so far show solid growth. Companies are expected to report overall profit growth of just under 1% when all the reports are in, according to estimates from FactSet.

In currency markets, the dollar rose to 109.91 Japanese yen from 109.77 yen on Friday. The euro edged down to $1.0836 from $1.0839.


----------



## bigdog

U.S. stock indexes closed with mostly modest losses Tuesday as the market gave up some of its solid gains from the past two weeks.

Banks and technology stocks accounted for most of the decline. The Nasdaq eked out a tiny gain that was good enough to nudge it to another record high.

The selling, which lost some of its momentum in the final hour of trading, came as investors weighed the impact of the virus outbreak in China on Apple and other major companies.

The tech giant said revenue will fall short of previous forecasts in the fiscal second quarter because production has been curtailed and consumer demand for iPhones has slowed in China. Apple’s stores there are either closed or operating on reduced hours.

The iPhone maker is among the most notable companies to warn investors that the virus will hurt its financial performance. Medical device maker Medtronic also warned Tuesday that the virus outbreak will impact its quarterly results.

“The longer this goes on, the greater the focus is going to be on how much is this going to impact companies like Apple, which is considered not only a bellwether in tech, but a bellwether for the market overall,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab.

The S&P 500 index fell 9.87 points, or 0.3%, to 3,370.29. The benchmark index remains just below its all-time high set on Friday.

The Dow Jones Industrial Average slid 165.89 points, or 0.6%, to 29,232.19. It had been down as many as 281 points. The Nasdaq recovered from an early slide, inching up 1.57 points, or less than 0.1%, to 9,732.74.

The Russell 2000 index of smaller company stocks fell 4.06 points, or 0.2%, to 1,683.52.

The S&P/ASX 200 index looks set to edge higher this morning. According to the latest SPI futures, the ASX 200 is poised to rise 9 points or 0.1% at the open.









https://apnews.com/4483bf770dfbb76c8331127bac171d53

*Stocks fall on Apple revenue warning; Dow drops 165*
By ALEX VEIGA

U.S. stock indexes closed with mostly modest losses Tuesday as the market gave up some of its solid gains from the past two weeks.

Banks and technology stocks accounted for most of the decline. The Nasdaq eked out a tiny gain that was good enough to nudge it to another record high.

The selling, which lost some of its momentum in the final hour of trading, came as investors weighed the impact of the virus outbreak in China on Apple and other major companies.

The tech giant said revenue will fall short of previous forecasts in the fiscal second quarter because production has been curtailed and consumer demand for iPhones has slowed in China. Apple’s stores there are either closed or operating on reduced hours.

The iPhone maker is among the most notable companies to warn investors that the virus will hurt its financial performance. Medical device maker Medtronic also warned Tuesday that the virus outbreak will impact its quarterly results.

“The longer this goes on, the greater the focus is going to be on how much is this going to impact companies like Apple, which is considered not only a bellwether in tech, but a bellwether for the market overall,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab.

The S&P 500 index fell 9.87 points, or 0.3%, to 3,370.29. The benchmark index remains just below its all-time high set on Friday.

The Dow Jones Industrial Average slid 165.89 points, or 0.6%, to 29,232.19. It had been down as many as 281 points. The Nasdaq recovered from an early slide, inching up 1.57 points, or less than 0.1%, to 9,732.74.

The Russell 2000 index of smaller company stocks fell 4.06 points, or 0.2%, to 1,683.52.

European and Asian markets declined. Bond prices rose. The yield on the 10-year Treasury fell to 1.56% from 1.58% late Friday.

Stocks opened lower Tuesday as U.S. markets reopened following the Monday’s President’s Day holiday.

As in recent weeks, traders reacted to the latest developments in the viral outbreak that began in China and has since infected more than 73,000 people. Most of of the cases and deaths remain centered in China.

Businesses worldwide are increasingly caught in the economic fallout from the outbreak. The Beijing auto show, the industry’s biggest global event of the year, is being postponed indefinitely from its April date.

Apple and Medtronic are only the latest notable examples of companies that have warned investors about the economic impact of the outbreak on their financial performance.

Technology and health care companies have been the most vocal about mentioning the new coronavirus in their earnings conference calls, according to FactSet.

While Apple’s projected revenue miss took Wall Street by surprise, some analysts played down the long-term impact of the iPhone production delay on the company.

In a research note Tuesday, Canaccord Genuity analyst Michael Walkley said that Apple continues to perform strongly across all business lines, including iPhone 11 demand outside of China.

Apple shares fell 1.8%, while Medtronic slid 4%.

Despite the ongoing uncertainty over the viral outbreak investors have been willing to buy back into the market after a dip.

The S&P 500 has ended higher the past two weeks and is holding onto a 4.5% gain this month.

For the most part, investors are betting that the economic fallout from the outbreak will be limited to the first three months of this year, Frederick said. But if companies signal that they expect lingering effects on their business into the second quarter, investors could become less eager to jump back into the market.

“There are just so many people out there that think every dip is a buying opportunity, and so far, they’ve been rewarded,” Frederick said. “We’re going to see that for a while, until we have a really big downturn and people really get hurt by it. We just haven’t had that in a long time.”

Technology stocks accounted for a big slice of the selling Tuesday. Several chipmakers, which rely heavily on China for sales and supplies, fell. Intel dropped 1.7% and Broadcom slid 2.2%.

Banks declined. HSBC said it will cut 35,000 jobs and shed $100 billion in assets. Its shares dropped 5.6%. Wells Fargo slid 2.5%.

Energy stocks also fell. Schlumberger dropped 2.2%.

Communication services stocks and utilities held up better than most of the market. T-Mobile US rose 3.5% and Xcel Energy rose 1.3%.

Traders continued to assess company earnings reports. Advance Auto Parts climbed 6.2% after the auto parts supplier’s results topped Wall Street’s forecasts. Conagra Brands dropped 6.1% after the food producer cut its fiscal 2020 profit and revenue forecasts, citing surprisingly weak consumption.

Among S&P 500 companies still to release their earnings, Progressive will report on Wednesday and ViacomCBS will report on Thursday.

Financial services company Franklin Resources jumped 6.9% after saying it is buying competitor Legg Mason for $4.5 billion. The deal will create a financial company with a combined $1.5 trillion in assets under management. Legg Mason shares vaulted 24.4%.

Benchmark crude oil was unchanged at $52.02 a barrel. Brent crude oil, the international standard, rose 8 cents to close at $57.75 a barrel. Wholesale gasoline rose 3 cents to $1.61 per gallon. Heating oil declined 3 cents to $1.67 per gallon. Natural gas rose 14 cents to $1.98 per 1,000 cubic feet.

Gold rose $17.30 to $1,600.00 per ounce, silver rose 41 cents to $18.13 per ounce and copper was unchanged at $2.61 per pound.

The dollar fell to 109.88 Japanese yen from 109.94 yen on Monday. The euro weakened to $1.0794 from $1.0834.


----------



## bigdog

U.S. stocks shook off their latest virus-induced loss and returned to record heights Wednesday, with several familiar faces doing the heaviest lifting.

Technology stocks helped lead the market higher, as they’ve been doing for years, and Apple rallied to recover most of its loss from the prior day. It dropped Tuesday after warning that revenue this quarter would fall short of forecasts due to the viral outbreak centered in China.

Worries remain about how disruptive the virus will be for manufacturing, travel and other economic activity across the region, but markets around the world rose as the number of new virus cases in China fell Wednesday. Expectations are also high that China and other central banks around the world will limit the economic damage through injections of cash into markets, lower interest rates and other stimulus measures, said Shawn Cruz, manager of trader strategy at TD Ameritrade.

The S&P 500 rose 15.86 points, or 0.5%, to 3,386.15 and surpassed its record set last week. The Dow Jones Industrial Average gained 115.84, or 0.4%, to 29,348.03. The Nasdaq climbed 84.44, or 0.9%, to 9,817.18 and also set a record.

The S&P/ASX 200 index looks set to continue its push higher this morning. According to the latest SPI futures, the ASX 200 is poised to rise 19 points or 0.3% at the open.











https://www.usnews.com/news/busines...n-higher-on-wall-street-led-by-tech-and-banks

*US Stocks Brush off Latest Loss, Return to Record Heights*
The S&P 500 returned to a record Wednesday, and technology stocks once again helped lead the market higher.
By Associated Press, Wire Service Content Feb. 19, 2020, at 4:31 p.m.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks shook off their latest virus-induced loss and returned to record heights Wednesday, with several familiar faces doing the heaviest lifting.

Technology stocks helped lead the market higher, as they’ve been doing for years, and Apple rallied to recover most of its loss from the prior day. It dropped Tuesday after warning that revenue this quarter would fall short of forecasts due to the viral outbreak centered in China.

Worries remain about how disruptive the virus will be for manufacturing, travel and other economic activity across the region, but markets around the world rose as the number of new virus cases in China fell Wednesday. Expectations are also high that China and other central banks around the world will limit the economic damage through injections of cash into markets, lower interest rates and other stimulus measures, said Shawn Cruz, manager of trader strategy at TD Ameritrade.

The S&P 500 rose 15.86 points, or 0.5%, to 3,386.15 and surpassed its record set last week. The Dow Jones Industrial Average gained 115.84, or 0.4%, to 29,348.03. The Nasdaq climbed 84.44, or 0.9%, to 9,817.18 and also set a record.

“I think markets are a little too rosy now,” Cruz said. “There is this assumption that the actual impact won’t be much, and if there is one, central banks will be able to step in and keep us alive.”

The problem arises if the virus lasts longer and does more damage than markets seem to be anticipating. “It seems like everyone is on the same side of the trade that this is going to be fine, which raises the potential for everyone to run for the door at the same time if central bank injections of cash aren’t going to cure anybody,” Cruz said.

Raising the potential volatility even more in such a scenario, Cruz said the companies most at risk to slowdowns in China are also those that have grown to become some of the biggest components of the S&P 500. That gives their movements outsized effects on index funds.

For now, at least, investors seem to be confident that China’s central bank, the Federal Reserve and other central banks can prop up the economy.

Low rates have been a key underpinning for the strong U.S. stock market, which has rallied even though growth in corporate profits has been weak. The Fed released minutes Wednesday afternoon from its last policy meeting, where officials said they see the current level of monetary policy “as likely to remain appropriate for a time,” at least until data on the economy shows a change in momentum.

Treasury yields rose Wednesday morning following a pair of stronger-than-expected reports on the U.S. economy. One showed stronger housing construction data than economists expected, while another showed inflation was higher than expected on the wholesale level in January.

But yields moderated as the day progressed. The yield on the 10-year Treasury rose to 1.56% from 1.55% late Tuesday, after earlier being as high as 1.58%. The two-year yield climbed to 1.41% from 1.39% after earlier touching 1.44%.

A generally still-slow global economy has put the spotlight on companies that are nevertheless able to produce strong revenue and profit growth, and that’s why tech stocks have been the market’s biggest stars for years.

On Wednesday, they once again helped pace the market. Besides Apple’s 1.4% gain, Nvidia jumped 6.1% and Advanced Micro Devices rose 3.5%. As a group, tech stocks in the S&P 500 climbed 1.1% for the second-largest gain among the 11 sectors that make up the index.

Tech stocks in the S&P 500 have surged 47.7% over the last 12 months, nearly double the rise for any of the index’s other sectors.

A longtime laggard was also high up the day's leaderboard. Energy stocks in the S&P 500 jumped 1.3%.

They climbed with the price of crude oil, while Concho Resources leaped 7.6% for the biggest gain in the S&P 500 after reporting stronger quarterly results than analysts expected.

The sector has been struggling as worries about weaker demand have weighed on the price of oil. Energy stocks have lost 15.5% over the last 12 months, the only sector in the S&P 500 to be down over that time.

Benchmark crude oil rose $1.27 to settle at $53.29 a barrel. Brent crude oil, the international standard, rose $1.37 to $59.12a barrel.

European stock markets also rallied, and the French CAC 40 climbed 0.9%. Germany’s DAX returned 0.8%, and the FTSE 100 jumped 1%.

In Asia, Japan’s Nikkei 225 rose 0.9%, the Hang Seng in Hong Kong added 0.5% and South Korea’s Kospi inched up 0.1%. Stocks in Shanghai lost 0.3%.

Wholesale gasoline rose 5 cents to $1.66 per gallon. Heating oil climbed 4 cents to $1.71 per gallon. Natural gas fell 2 cents to $1.96 per 1,000 cubic feet.

Gold rose $7.50 to $1,607.50 per ounce, silver rose 16 cents to $18.29 per ounce and copper was unchanged at $2.61 per pound.

The dollar rose to 111.58 Japanese yen from 109.88 yen on Tuesday. The euro strengthened to $1.0796 from $1.0794.

129


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## bigdog

U.S. stocks spun lower in a dizzying day of trading Thursday as worries about the viral outbreak that started in China knocked the S&P 500 off its record high.

The market had started the day off higher following another round of stronger-than-expected reports on the U.S. economy, but it slumped suddenly in the late morning. The S&P 500 was down as much as 1.3% at one point, Treasury yields fell and the price of gold rose, before the moves moderated in the afternoon.

By the close of trading, the S&P 500 index had trimmed its loss to 0.4%, down 12.92 points to 3,373.23. The Dow Jones Industrial Average fell 128.05 points, or 0.4%, to 29,219.98, after earlier being down as many as 388 points. The Nasdaq composite lost 66.21, or 0.7%, to 9,750.96.

Market watchers said they didn’t see one clear trigger for the movements, which were reminiscent of the market’s sudden shifts during the height of the U.S.-China trade war, when stocks would swing sharply following tweets from President Donald Trump.

“You have this push and pull between good U.S. economic data and coronavirus fears,” said Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management. “You’re playing that back and forth, almost as you were during the trade war, where people were reacting to changes minute by minute.”

Stocks had been pushing higher for weeks, as investor belief hardened that stimulus and other efforts by central banks and governments around the world could limit the economic pain created by the virus. China’s central bank on Thursday cut its one-year prime rate to 4.05% from 4.15%.

The S&P/ASX 200 index looks set for a subdued finish to the week. According to the latest SPI futures, the ASX 200 is poised open the day flat this morning.










https://www.usnews.com/news/busines...tocks-lead-wall-street-indexes-slightly-lower

*S&P 500 Spins Lower in Choppy Trading as Caution Returns*
U.S. stocks spun lower in a dizzying day of trading Thursday as worries about the viral outbreak that started in China knocked the S&P 500 off its record high.
By Associated Press, Wire Service Content Feb. 20, 2020, at 4:38 p.m.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks spun lower in a dizzying day of trading Thursday as worries about the viral outbreak that started in China knocked the S&P 500 off its record high.

The market had started the day off higher following another round of stronger-than-expected reports on the U.S. economy, but it slumped suddenly in the late morning. The S&P 500 was down as much as 1.3% at one point, Treasury yields fell and the price of gold rose, before the moves moderated in the afternoon.

By the close of trading, the S&P 500 index had trimmed its loss to 0.4%, down 12.92 points to 3,373.23. The Dow Jones Industrial Average fell 128.05 points, or 0.4%, to 29,219.98, after earlier being down as many as 388 points. The Nasdaq composite lost 66.21, or 0.7%, to 9,750.96.

Market watchers said they didn’t see one clear trigger for the movements, which were reminiscent of the market’s sudden shifts during the height of the U.S.-China trade war, when stocks would swing sharply following tweets from President Donald Trump.

“You have this push and pull between good U.S. economic data and coronavirus fears,” said Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management. “You’re playing that back and forth, almost as you were during the trade war, where people were reacting to changes minute by minute.”

Stocks had been pushing higher for weeks, as investor belief hardened that stimulus and other efforts by central banks and governments around the world could limit the economic pain created by the virus. China’s central bank on Thursday cut its one-year prime rate to 4.05% from 4.15%.

But critics said stocks may have run too high, too fast given how uncertain COVID-19’s full impact on the global economy will be. South Korea’s fourth-largest city, far from the center of the viral outbreak in China, urged residents to stay inside. The worry is that the number of new cases, which has been falling, could re-accelerate.

“Until we get a more definitive sign that the top is in, you’re going to have volatility back and forth and trades off coronavirus headlines,” Schutte said.

One measure of fear in the stock market, which shows how much traders are paying to protect themselves from future swings in the S&P 500, was up nearly 20% at one point in midday trading before more than halving the gain.

The increased caution pushed up the price of gold, which touched its highest price since early 2013. Investors also piled into the safety of U.S. government bonds, which in turn weighed on their yields. The 10-year Treasury’s yield sank to 1.52% from 1.57% late Wednesday.

Besides the toll on human lives, investors worry about how much economic damage the virus will cause. It’s already led to sharp drop-offs in manufacturing, travel and other economic activity in China, and the fear is how long that will last and how far it will spread in the interconnected global economy.

The world’s largest shipping company, Denmark’s A.P. Moller Maersk, said Thursday it expects a weak start to the year due to the virus. Air France, meanwhile, said that COVID-19 could mean a hit of up to 200 million euros, or $220 million, for its operating results from February to April. Procter & Gamble’s chief financial officer told analysts that traffic at stores in China, its second-largest market, is down considerably, though it held firm on its forecast ranges for sales and profit this year.

The worries overshadowed another set of encouraging data on the U.S. economy. A survey of manufacturers in the mid-Atlantic region jumped to its highest level since February 2017, and a separate report showed leading economic indicators in the United States rose more in January than economists forecast. The number of workers applying for jobless claims rose a touch, but it still remains low.

ViacomCBS slid 17.9% for the largest loss in the S&P 500 after it reported weaker results for the latest quarter than analysts expected.

The biggest gainer, meanwhile, was E-Trade Financial, which jumped 21.8% after Morgan Stanley said it would buy the online brokerage.

European markets were lower, with Germany’s DAX losing 0.9% and France’s CAC 40 down 0.8%. The FTSE 100 in London dipped 0.3%.

In South Korea, where authorities reported the country’s first COVID-19 fatality, the Kospi sank 0.7%. Japan’s Nikkei 225 rose 0.3%, the Hang Seng dipped 0.2% and stocks in Shanghai jumped 1.8%.

Benchmark crude oil rose 49 cents to settle at $53.78 a barrel. Brent crude oil, the international standard, rose 19 cents to $59.31 per barrel. Wholesale gasoline rose 1 cent to $1.67 per gallon. Heating oil declined 1 cent to $1.70 per gallon. Natural gas fell 4 cents to $1.92 per 1,000 cubic feet.

Gold rose $9.10 to $1,616.60 per ounce, silver rose 2 cents to $18.31 per ounce and copper fell 1 cent to $2.60 per pound.

The dollar rose to 112.06 Japanese yen from 111.58 yen on Wednesday. The euro weakened to $1.0790 from $1.0796.


----------



## bigdog

Stocks fell and bond prices rose sharply on Wall Street Friday amid signs that economic fallout from the viral outbreak that originated in China is hurting U.S. companies.

The yield on the 30-year Treasury reached a record low as investors sought the safety of U.S. government bonds. The price of gold climbed 1.7%.

New data showing manufacturing and business activity suddenly slowed this month stoked investors' anxiety over the outbreak’s impact on company profits. New reports that infections are spreading added to traders' jitters.

“There's a little bit more concern about how hard this is going to impact, not just Asia, but also the broad global economy,” said Adam Taback, chief investment officer for Wells Fargo Private Bank.

Technology stocks led the selling. Retailers, travel-related companies, banks and communication services stocks also took heavy losses. The sell-off capped a volatile, holiday shortened week that left the benchmark S&P 500 index with its first weekly loss after two weeks of gains.

The S&P 500 index fell 35.48 points, or 1.1%, to 3,337.75. The Dow Jones Industrial Average slid 227.57 points, or 0.8%, to 28,992.41. The Nasdaq lost 174.37 points, or 1.8%, to 9,576.59.

The Russell 2000 index of smaller company stocks gave up 17.46 points, or 1%, to 1,678.61.

Asian and European markets also fell.










https://www.usnews.com/news/busines...er-on-wall-street-following-weakness-overseas

*Stocks Sink, Treasury Prices Soar as Investors Seek Safety*
Stocks fell and bond prices rose sharply on Wall Street Friday amid fresh signs that the viral outbreak that originated in China is weighing on U.S. companies.
By Associated Press, Wire Service Content Feb. 21, 2020, at 4:53 p.m.

By ALEX VEIGA, AP Business Writer

Stocks fell and bond prices rose sharply on Wall Street Friday amid signs that economic fallout from the viral outbreak that originated in China is hurting U.S. companies.

The yield on the 30-year Treasury reached a record low as investors sought the safety of U.S. government bonds. The price of gold climbed 1.7%.

New data showing manufacturing and business activity suddenly slowed this month stoked investors' anxiety over the outbreak’s impact on company profits. New reports that infections are spreading added to traders' jitters.

“There's a little bit more concern about how hard this is going to impact, not just Asia, but also the broad global economy,” said Adam Taback, chief investment officer for Wells Fargo Private Bank.

Technology stocks led the selling. Retailers, travel-related companies, banks and communication services stocks also took heavy losses. The sell-off capped a volatile, holiday shortened week that left the benchmark S&P 500 index with its first weekly loss after two weeks of gains.

The S&P 500 index fell 35.48 points, or 1.1%, to 3,337.75. The Dow Jones Industrial Average slid 227.57 points, or 0.8%, to 28,992.41. The Nasdaq lost 174.37 points, or 1.8%, to 9,576.59.

The Russell 2000 index of smaller company stocks gave up 17.46 points, or 1%, to 1,678.61.

Asian and European markets also fell.

Investors have been trying to gauge how damaging the virus outbreak will be to corporate earnings, and whether supply chain interruptions, softer sales and other problems stemming from travel restrictions, business and factory closures in China will continue to hurt companies well beyond the first quarter.

Several better-than-expected reports on the economy helped raise optimism earlier this week that the outbreak is not having a broad impact on the U.S. economy, but Friday's clunker from IHS Markit fueled doubts.

Preliminary data suggest U.S. business activity pulled back in February, the first month of contraction since 2013. Economists had expected the survey of manufacturers and service companies to show another month of growth.

Much of the drop-off was due to a weaker services sector, where output fell for the first time in four years, "but manufacturing also ground almost to a halt due to a near-stalling of orders," IHS chief business economist Chris Williamson said in a statement. He attributed some of the month's deterioration to the viral outbreak, which weakened demand for travel and tourism.

One encouraging sign in the report was that businesses seem optimistic the slowdown will be only short-lived.

For now, companies like Coca-Cola continue to grapple with the economic fallout of the outbreak. The beverage giant is the latest big name to warn investors about the potential impact on its finances from the outbreak. China is a big market for the company, and Coke now expects a hit of 2 cents per share to its first-quarter profit.

Universal Display, which makes LED-technology for televisions and other products, expects the virus to hurt orders in 2020. The International Air Transport Association said the virus threatens to erase $29 billion of this year’s revenue for global airlines, mostly for Chinese carriers.

South Korea said 204 people have been infected with the virus, quadruple the number of cases it had two days earlier. More than 76,000 people have been infected globally, with most of the cases and deaths centered in China. That nation’s leadership on Friday shifted to a more cautious tone and said it has not yet reached a turning point for the virus and the situation in the hardest hit province remains grave.

The economic data and virus outbreak news led investors to seek the safety of U.S. government bonds, pulling yields sharply lower.

The yield on the 30-year Treasury reached a record low of 1.886%, according to Tradeweb. It was 1.98% late Thursday. The yield on the more closely followed 10-year Treasury fell to 1.47% from 1.52%. That yield, which is a benchmark for mortgages and other kinds of loans, was close to 1.90% at the start of this year.

Expectations have been building among traders that the Federal Reserve will need to cut interest rates this year to help the economy. They’re pricing in a 90% probability of at least one cut this year, up from an 85% probability a day ago and a 58% probability a month ago.

Technology companies accounted for much of the selling Friday. Chipmakers, which rely heavily on China for both sales and supply chains, were some of the worst hit. Advanced Micro Devices slid 7%, while Nvidia fell 4.7%.

Companies that depend on consumer spending, especially in travel-related industries, also fell broadly. Marriott International shed 2.5% and Carnival fell 1.9%. American Airlines dropped 2.4%.

General Motors lost 1.8% and other automakers slipped as the virus hurts auto sales in China.

Real estate companies and utilities held up better than the rest of the market.

Deere’s latest quarterly report card was a bright spot. Its shares jumped 7% after the farm equipment maker handily beat Wall Street’s fiscal first-quarter profit forecasts. The company is coming out of an extended period in which it was bruised by the ongoing trade war between the U.S. and China.

Benchmark crude oil fell 50 cents to settle at $53.38 a barrel. Brent crude oil, the international standard, dropped 81 cents to close at $58.50 a barrel. Wholesale gasoline fell 2 cents to $1.65 per gallon. Heating oil declined 1 cent to $1.69 per gallon. Natural gas fell 1 cent to $1.91 per 1,000 cubic feet.

Gold rose $28.00 to $1,644.60 per ounce, silver rose 22 cents to $18.52 per ounce and copper rose 2 cents to $2.62 per pound.

The dollar rose to 111.62 Japanese yen from 112.06 yen on Thursday. The euro strengthened to $1.0858 from $1.0790.

236


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## bigdog

The S&P/ASX 200 index looks set to start the week in the red. According to the latest SPI futures, the ASX 200 is poised to tumble 0.65% or 47 points at the open.


----------



## bigdog

The Dow Jones Industrial Average slumped more than 1,000 points Monday in the worst day for the stock market in two years as investors worry that the spread of a viral outbreak that began in China will weaken global economic growth.

Traders sought safety in U.S. government bonds, gold and high-dividend stocks like utilities and real estate. The yield on the 10-year Treasury fell to the lowest level in more than three years.

Technology stocks accounted for much of the broad market slide, which wiped out all of the Dow’s and S&P 500’s gains for the year.

More than 79,000 people worldwide have been infected by the new coronavirus. China, where the virus originated, still has the majority of cases and deaths. The rapid spread to other countries is raising anxiety about the threat the outbreak poses to the global economy.

“Stock markets around the world are beginning to price in what bond markets have been telling us for weeks – that global growth is likely to be impacted in a meaningful way due to fears of the coronavirus,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance.

The Dow lost 1,031.61 points, or 3.6%, to 27,960.80. At its low point, it was down 1,079 points.

The S&P 500 index skidded 111.86 points, or 3.4%, to 3,225.89. The Nasdaq dropped 355.31 points, or 3.7%, to 9,221.28 - it’s biggest loss since December 2018.

The Russell 2000 index of smaller company stocks gave up 50.50 points, or 3%, to 1,628.10.

Investors looking for safe harbors bid up prices for U.S. government bonds and gold. The yield on the 10-year Treasury note fell sharply, to 1.37% from 1.47% late Friday. It was at 1.90% at the start of the year. Gold prices jumped 1.7%.

The S&P/ASX 200 index looks set to continue its slide on Tuesday. According to the latest SPI futures, the ASX 200 is poised to tumble a further 2% or 137 points at the open.










https://www.usnews.com/news/busines...kets-plunge-as-virus-cases-spread-beyond-asia

*Dow Drops More Than 1,000 as Outbreak Threatens the Economy*
The Dow Jones Industrial Average sank more than 1,000 points as the spread of the new coronavirus threatened wider damage to the global economy.
By Associated Press, Wire Service Content Feb. 24, 2020, at 4:51 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

The Dow Jones Industrial Average slumped more than 1,000 points Monday in the worst day for the stock market in two years as investors worry that the spread of a viral outbreak that began in China will weaken global economic growth.

Traders sought safety in U.S. government bonds, gold and high-dividend stocks like utilities and real estate. The yield on the 10-year Treasury fell to the lowest level in more than three years.

Technology stocks accounted for much of the broad market slide, which wiped out all of the Dow’s and S&P 500’s gains for the year.

More than 79,000 people worldwide have been infected by the new coronavirus. China, where the virus originated, still has the majority of cases and deaths. The rapid spread to other countries is raising anxiety about the threat the outbreak poses to the global economy.

“Stock markets around the world are beginning to price in what bond markets have been telling us for weeks – that global growth is likely to be impacted in a meaningful way due to fears of the coronavirus,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance.

The Dow lost 1,031.61 points, or 3.6%, to 27,960.80. At its low point, it was down 1,079 points.

The S&P 500 index skidded 111.86 points, or 3.4%, to 3,225.89. The Nasdaq dropped 355.31 points, or 3.7%, to 9,221.28 - it’s biggest loss since December 2018.

The Russell 2000 index of smaller company stocks gave up 50.50 points, or 3%, to 1,628.10.

Investors looking for safe harbors bid up prices for U.S. government bonds and gold. The yield on the 10-year Treasury note fell sharply, to 1.37% from 1.47% late Friday. It was at 1.90% at the start of the year. Gold prices jumped 1.7%.

Crude oil prices slid 3.7%. Aside from air travel, the virus poses an economic threat to global shipping.

Benchmark crude oil fell $1.95 to settle at $51.43 a barrel. Brent crude oil, the international standard, dropped $2.20 to close at $56.30 a barrel.

The slump in U.S. indexes followed a sell-off in markets overseas as a surge in cases of the disease in South Korea and Europe rattled investors.

Germany’s DAX slid 4% and Italy's benchmark index dropped 5.4%. South Korea’s Kospi shed 3.9% and markets in Asia fell broadly.

South Korea is now on its highest alert for infectious diseases after cases there spiked. Italy reported a sharp rise in cases and a dozen towns in the northern, more industrial part of that country are under quarantine. The nation now has the biggest outbreak in Europe, prompting officials to cancel Venice’s famed Carnival, along with soccer matches and other public gatherings.

There are also more cases of the virus being reported in the Middle East as it spreads to Iran, Iraq, and Kuwait, among others.

The viral outbreak threatens to crimp global economic growth and hurt profits and revenue for a wide range of businesses. Companies from technology giant Apple to athletic gear maker Nike have already warned about a hit to their bottom lines. Airlines and other companies that depend on travelers are facing pain from cancelled plans and shuttered locations.

Technology companies were among the worst hit by the sell-off. Apple, which depends on China for a lot of business, slid 4.8%. Microsoft dropped 4.3%. Banks were also big losers. JPMorgan Chase fell 2.7% and Bank of America slid 4.7%.

Airlines and cruise ship operators also slumped. American Airlines lost 8.5%, Delta Air Lines dropped 6.3%, Carnival skidded 9.4% and Royal Caribbean Cruises tumbled 9%.

Gilead Sciences climbed 4.6% and was among the few bright spots. The biotechnology company is testing a potential drug to treat the new coronavirus. Bleach-maker Clorox was also a standout, rising 1.5%.

Utilities and real estate companies held up better than most sectors. Investors tend to favor those industries, which carry high dividends and hold up relatively well during periods of turmoil, when they're feeling fearful.

The rotation into defensive sectors has made utilities and real estate the biggest gainers this year, while technology stocks have lost ground.

“The yields have been moving lower all year, so that's providing a tail wind for utilities, for real estate,” said Willie Delwiche, investment strategist at Baird. “In the face of this heightened uncertainty, especially if it's centered overseas, tech is going to bear some of the brunt of that because it's been so popular, because it's done so well, and because it has so much exposure to Asia.”

In the eyes of some analysts, Monday’s tank job for stocks means they’re just catching up to the bond market, where fear has been dominant for months.

U.S. government bonds are seen as some of the safest possible investments, and investors have been piling into them throughout 2020, even as stocks overcame stumbles to set more record highs. The 10-year yield on Monday was near its intraday record low of 1.325% set in July 2016, according to Tradeweb. The 30-year Treasury yield fell further after setting its own record low, down to 1.83% from 1.92% late Friday.

Traders are increasingly certain that the Federal Reserve will cut interest rates at least once in 2020 to help prop up the economy. They’re pricing in a nearly 95% probability of a cut this year, according to CME Group. A month ago, they saw only a 68% probability.

Of course, some analysts say stocks have been rising in recent weeks precisely because of the drop in yields. Bonds are offering less in interest after the Federal Reserve lowered rates three times last year — the first such cuts in more than a decade — and amid low inflation. When bonds are paying such meager amounts, many investors say there’s little real competition other than stocks for their money.

The view has become so hardened that “There Is No Alternative,” or TINA, has become a popular acronym on Wall Street. Even with Monday’s sharp drops, the S&P 500 is still within 4.2% of its record set earlier this month.

In other commodities trading Monday, wholesale gasoline fell 4 cents to $1.61 per gallon, heating oil declined 8 cents to $1.61 per gallon and natural gas fell 8 cents to $1.83 per 1,000 cubic feet.

Gold rose $27.80 to $1,672.40 per ounce, silver rose 35 cents to $18.87 per ounce and copper fell 3 cents to $2.59 per pound.

The dollar fell to 110.74 Japanese yen from 111.62 yen on Friday. The euro weakened to $1.0842 from $1.0858.


----------



## bigdog

Stocks slumped again on Wall Street Tuesday, piling on losses a day after the market's biggest drop in two years as fears spread that the growing virus outbreak will put the brakes on the global economy.

Nervous investors snapped up low-risk U.S. government bonds, sending the yield on the 10-year Treasury note to a record low.

The benchmark S&P 500 has lost 7.6% over the last four days, it’s worst such stretch since the end of 2018. Tuesday also marked the first back-to-back 3% losses for the index since the summer of 2015.

The latest wave of selling came as more companies, including United Airlines and Mastercard, warned that the outbreak will hurt their finances, and more cases were reported in Europe and the Middle East, far outside the epicenter in China. Meanwhile, U.S. health officials called on Americans to be prepared for the disease to spread in the United States, where there are currently just a few dozen cases.

The Dow Jones Industrial Average dropped 879 points, for a two-day loss of 1,911 points. Travel-related stocks took another drubbing, bringing the two-day loss for American Airlines to 16.9%. The large publicly traded cruise operators have also suffered double-digit losses.

The worst-case scenario for investors — where the virus spreads around the world and cripples supply chains and the global economy — hasn't changed in the last few weeks. But the probability of it happening has risen, said Yung-Yu Ma, chief investment strategist at BMO Wealth Management.

"It's the combination of South Korea, Japan, Italy and even Iran" reporting virus cases, Ma said. “That really woke up the market, that these four places in different places around the globe can go from low concern to high concern in a matter of days and that we could potentially wake up a week from now and it could be five to 10 additional places.”

The S&P 500 index fell 97.68 points, or 3%, to 3,128.21. The Dow Jones Industrial Average sank 879.44 points, or 3.2%, to 27,081.36, following a drop of more than 1,000 points Monday. The Nasdaq lost 255.67 points, or 2.8%, to 8,965.61, erasing its gains for the year. The Russell 200 index of smaller company stocks dropped 55.53 points, or 3.4%, to 1,572.57.

European markets also fell. Markets in Asia were mixed.

Technology stocks, which rely heavily on China for both sales and supply chains, once again led the decline. Apple dropped 3.4% and chipmaker Nvidia slid 4.1%

It looks set to be another disappointing day of trade for the S&P/ASX 200 index after the coronavirus spread into the United States and spooked global financial markets. According to the latest SPI futures, the ASX 200 is poised to fall a further 166 points or 2.4% at the open.










https://www.usnews.com/news/busines...n-slightly-higher-after-worst-drop-in-2-years

*Stocks Sink, Bonds Soar on Fears Virus Will Stunt Economy*
Stocks slumped and bond prices soared for the second day in a row as fears spread that the widening virus outbreak will put the brakes on the global economy.
By Associated Press, Wire Service Content Feb. 25, 2020, at 4:30 p.m.

By ALEX VEIGA and STAN CHOE, AP Business Writers

Stocks slumped again on Wall Street Tuesday, piling on losses a day after the market's biggest drop in two years as fears spread that the growing virus outbreak will put the brakes on the global economy.

Nervous investors snapped up low-risk U.S. government bonds, sending the yield on the 10-year Treasury note to a record low.

The benchmark S&P 500 has lost 7.6% over the last four days, it’s worst such stretch since the end of 2018. Tuesday also marked the first back-to-back 3% losses for the index since the summer of 2015.

The latest wave of selling came as more companies, including United Airlines and Mastercard, warned that the outbreak will hurt their finances, and more cases were reported in Europe and the Middle East, far outside the epicenter in China. Meanwhile, U.S. health officials called on Americans to be prepared for the disease to spread in the United States, where there are currently just a few dozen cases.

The Dow Jones Industrial Average dropped 879 points, for a two-day loss of 1,911 points. Travel-related stocks took another drubbing, bringing the two-day loss for American Airlines to 16.9%. The large publicly traded cruise operators have also suffered double-digit losses.

The worst-case scenario for investors — where the virus spreads around the world and cripples supply chains and the global economy — hasn't changed in the last few weeks. But the probability of it happening has risen, said Yung-Yu Ma, chief investment strategist at BMO Wealth Management.

"It's the combination of South Korea, Japan, Italy and even Iran" reporting virus cases, Ma said. “That really woke up the market, that these four places in different places around the globe can go from low concern to high concern in a matter of days and that we could potentially wake up a week from now and it could be five to 10 additional places.”

The S&P 500 index fell 97.68 points, or 3%, to 3,128.21. The Dow Jones Industrial Average sank 879.44 points, or 3.2%, to 27,081.36, following a drop of more than 1,000 points Monday. The Nasdaq lost 255.67 points, or 2.8%, to 8,965.61, erasing its gains for the year. The Russell 200 index of smaller company stocks dropped 55.53 points, or 3.4%, to 1,572.57.

European markets also fell. Markets in Asia were mixed.

Technology stocks, which rely heavily on China for both sales and supply chains, once again led the decline. Apple dropped 3.4% and chipmaker Nvidia slid 4.1%.

Bond prices continued rising. The yield on the 10-year Treasury fell as low as 1.31%, a record, according to TradeWeb, before recovering somewhat to 1.32% in the afternoon. The yield is down from 1.37% late Monday and far below the 1.90% it stood at in early 2020.

The lower bond yields, which force interest rates lower on mortgages and other loans, weighed on banks. JPMorgan Chase slid 4.5% and Bank of America fell 5%.

Real estate companies and utilities also declined, though they held up better than the rest of the market as investors favored safe-play stocks.

The viral outbreak that originated in China has now infected more than 80,000 people globally, with more cases being reported in Europe and the Middle East. The majority of cases and deaths remain centered in China, but the rapid spread to other parts of the world has spooked markets and raised fears that it will hurt the global economy.

On Tuesday, U.S. health officials warned that it's inevitable the virus will spread more widely in America.

"It's not so much a question of if this will happen anymore, but rather more a question of exactly when this will happen - and how many people in this country will have severe illness," Dr. Nancy Messonnier of the Centers for Disease Control and Prevention said in a call with reporters.

United Airlines tumbled 6.5% after withdrawing its financial forecasts for the year because of the impact on demand for air travel. Mastercard dropped 6.7% after saying the impact on cross-border travel and business could cut into its revenue, depending on the duration and severity of the virus outbreak.

Moderna surged 27.8% after the company sent its potential virus vaccine to government researchers for additional testing. The biotechnology company is one several drug developers racing to develop vaccine.

Energy companies have been some of the hardest hit on worries that a weakened global economy will burn less fuel. Exxon Mobil is down 10.2% over the last four days, and the slump has wiped away nearly $26 billion in market value.

But the losses extend far beyond the energy sector. A rapidly spreading virus threatens factories, shipments of parts and customers for businesses around the world. At Apple, which said last week that the virus will force it to fall sort of a previous quarterly revenue forecast, $158.6 billion in market value has vanished in the last four days.

One measure of fear in the market, which shows how much traders are paying to protect themselves from future swings for the S&P 500, touched its highest level since December 2018, when stocks were tumbling on worries about a possible recession.

The chief risk is that the stock market was already “priced to perfection,” or something close to it, before the virus worries exploded, according to Brian Nick, chief investment officer at Nuveen.

After getting the benefit of three interest-rate cuts from the Federal Reserve last year and the consummation of a “Phase 1” U.S.-China trade deal, investors were willing to pay high prices for stocks on the expectation that profits would grow in the future. The S&P 500 was recently trading at its most expensive level, relative to its expected earnings per share, since the dot-com bubble was deflating in 2002, according to FactSet.

If profit growth doesn’t ramp up this year, that makes a highly priced stock market even more vulnerable. After a growing number of companies have cut or withdrawn their revenue and profit forecasts for the year, analysts have slashed their expectations for S&P 500 earnings growth to 7.9% for this year, down from expectations of 9.6% at the start of 2020, according to FactSet.


----------



## bigdog

Major U.S. stock indexes gave up early gains and closed mostly lower Wednesday, extending the market’s heavy losses for the week.

The benchmark S&P 500 fell for the fifth straight day after swinging between a 0.6% loss and 1.7% gain. Smaller company stocks bore the brunt of the selling. The bond market continued to flash warning signs as long-term Treasury yields fell further below short-term yields.

Worry about economic fallout from the virus outbreak that originated in China has fueled a sharp sell-off this week that’s wiped out the market’s gains for the year.

The virus continues to spread and threatens to hurt industrial production, consumer spending, and travel. More cases are being reported in Europe and the Middle East. Health officials in the U.S. have been warning Americans to prepare for the virus.

“The market is still digesting the full impact of what the coronavirus could mean for global GDP growth and, more importantly, on earnings growth for a lot of companies,” said Nadia Lovell, U.S. equity strategist at J.P. Morgan Private Bank.

The S&P 500 index fell 0.4%. It’s on track for its biggest monthly decline since May. The Dow Jones Industrial Average dropped 123.77 points, for a three-day loss of 2,034 points. A modest rally in technology stocks helped nudge the Nasdaq composite to a 0.2% gain.

Smaller company stocks fell the most. The Russell 2000 index lost 1.2%.

European markets were mostly higher and Asian markets fell.

The S&P/ASX 200 index looks set to slide lower again after a rebound on Wall Street ran out of legs. According to the latest SPI futures, the ASX 200 is expected to open the day 25 points or 0.4% lower this morning.










https://apnews.com/e33ecc966e684fc62e992c2a60645563

*Stocks slide on Wall Street, extending steep drops this week*
By ALEX VEIGA

Major U.S. stock indexes gave up early gains and closed mostly lower Wednesday, extending the market’s heavy losses for the week.

The benchmark S&P 500 fell for the fifth straight day after swinging between a 0.6% loss and 1.7% gain. Smaller company stocks bore the brunt of the selling. The bond market continued to flash warning signs as long-term Treasury yields fell further below short-term yields.

Worry about economic fallout from the virus outbreak that originated in China has fueled a sharp sell-off this week that’s wiped out the market’s gains for the year.

The virus continues to spread and threatens to hurt industrial production, consumer spending, and travel. More cases are being reported in Europe and the Middle East. Health officials in the U.S. have been warning Americans to prepare for the virus.

“The market is still digesting the full impact of what the coronavirus could mean for global GDP growth and, more importantly, on earnings growth for a lot of companies,” said Nadia Lovell, U.S. equity strategist at J.P. Morgan Private Bank.

The S&P 500 index fell 0.4%. It’s on track for its biggest monthly decline since May. The Dow Jones Industrial Average dropped 123.77 points, for a three-day loss of 2,034 points. A modest rally in technology stocks helped nudge the Nasdaq composite to a 0.2% gain.

Smaller company stocks fell the most. The Russell 2000 index lost 1.2%.

European markets were mostly higher and Asian markets fell.

A burst of morning buying had stocks on track for modest gains, but the rally mostly faded by the end of the day, reflecting ongoing concerns among investors about the new coronavirus.

The outbreak has now infected more than 81,000 people globally and continues spreading. Brazil has confirmed the first case in Latin America. Germany, France and Spain were among the European nations with growing caseloads. New cases are also being reported in several Middle Eastern nations.

U.S. cases currently total 57, and the White House has requested $2.5 billion for vaccine development, treatment and protective equipment. On Tuesday, U.S. health officials called on Americans to be prepared for the disease to spread in the United States.

Bond yields headed lower for much of the day, but then recovered mostly. The yield on the 10-year Treasury inched up to 1.34% from 1.33% late Tuesday. The yield on the 3-month Treasury bill edged up to 1.51%. The inversion in the yield between the 10-year and the 3-month Treasurys is a red flag for investors, because it has been a warning signal that has a fairly accurate track record of preceding the last seven recessions.

“The bond market is sending us some warning signals that we should pay attention to and that’s what you see playing out in the market today,” Lovell said.

Investors have been moving more money into bonds in the wake of the outbreak. Traders are concerned the global economy could slow down as the world’s second-largest economy struggles to contain the outbreak.

“A slowdown definitely is on the horizon, but it’s transitory,” Lovell said. “I would expect economic growth to reaccelerate in the back half of the year as China starts to come online.”

Energy companies led the selling Wednesday as the price of U.S. crude oil fell 2.3%.

Cruise operators continued falling amid persistent virus fears. Norwegian Cruise Line Holdings fell 7.9%, Royal Caribbean Cruises dropped 8.1% and Carnival slid 7.5%.

Other companies that depend on travelers also declined. Expedia lost 7.1%.

Technology stocks eked out a modest gain. The tech sector was among the worst hit by sell-offs this week as many of the companies rely on global sales and supply chains that could be stifled by the spreading outbreak. Microsoft rose 1.2% and Adobe rose 1%.

TJX, the parent of retailer TJ Maxx, surged 7.2% after beating Wall Street’s fourth-quarter profit forecasts and raising its dividend.

Disney fell 3.8% a day after Bob Iger’s surprise announcement that he will immediately step down as CEO of the giant entertainment company. Iger steered the company’s absorption of big moneymakers, including Star Wars, Pixar, Marvel and Fox’s entertainment businesses. He also oversaw the launch of the Disney Plus streaming video service.

Toll Brothers slid 14.6% after the homebuilder reported disappointing fiscal first-quarter profit. The poor results weighed on nearly all homebuilder stocks. D.R. Horton fell 2.6%.

A government report Wednesday showed that sales of new homes jumped 7.9% in January to the fastest pace in more than 12 years.

MARKET ROUNDUP:

The S&P 500 index fell 11.82 points, or 0.4%, to 3,116.39. The Dow dropped 123.77 points, or 0.5%, to 26,957.59.

The Nasdaq gained 15.16 points, or 0.2%, to 8,980.77. The Russell 200 index of smaller company stocks dropped 19.14 points, or 1.2%, to 1,552.76.

Benchmark crude oil fell $1.17 to settle at $48.73 a barrel. Brent crude oil, the international standard, dropped $1.52 to close at $53.43 a barrel. Wholesale gasoline fell 8 cents to $1.45 per gallon. Heating oil declined 7 cents to $1.50 per gallon. Natural gas fell 3 cents to $1.82 per 1,000 cubic feet.

Gold fell $6.90 to $1,640.00 per ounce, silver fell 36 cents to $17.83 per ounce and copper fell 1 cent to $2.58 per pound.

The dollar rose to 110.22 Japanese yen from 110.12 yen on Tuesday. The euro strengthened to $1.0897 from $1.0881.


----------



## bigdog

The Dow Jones Industrial Average sank nearly 1,200 points Thursday, deepening a week long global market rout caused by worries that the coronavirus outbreak will wreak havoc on the global economy.

Bond prices soared again, sending the yield on the 10-year Treasury to another record low. When yields fall it's a sign that investors are feeling less confident about the strength of the economy going forward.

"People can demand things that feel safe for irrational amounts of time," said Katy Kaminski, chief research strategist at AlphaSimplex Group. "It doesn't matter, the fundamentals, when people are worried."

The latest losses extended a slide in stocks that has wiped out the solid gains the major indexes had posted early this year.

The S&P 500 is now 12% below the all-time high it set just a week ago. This is now the stock market’s worst week since October 2008, when Wall Street was mired in the financial crisis.

Investors came into 2020 feeling confident that the Federal Reserve would keep interest rates at low levels and the U.S.-China trade war posed less of a threat to company profits after the two sides reached a preliminary agreement in January. The virus outbreak has upended that rosy scenario as economists lower their expectations for economic growth and companies warn of a hit to their business.

The S&P 500 index's sharp decline from its last record high puts it in what market watchers call a “correction,” a normal phenomenon that analysts have said was long overdue in this bull market, which is the longest in history.

Microsoft warned that the virus outbreak had interrupted its supply lines and would hurt its financial performance, following a similar warning last week from Apple. The two stocks led another sell-off among technology companies. Energy stocks fell sharply as the price of oil dropped 3.4%.

“This is a market that’s being driven completely by fear,” said Elaine Stokes, portfolio manager at Loomis Sayles, with market movements following the classic characteristics of a fear trade: stocks are down, commodities are down and bonds are up.

Stokes said the swoon reminded her of the market’s reaction following the Sept. 11, 2001 terrorist attacks.

“Eventually we’re going to get to a place where this fear, it’s something that we get used to living with, the same way we got used to living with the threat of living with terrorism,” she said. “But right now, people don’t know how or when we’re going to get there, and what people do in that situation is to retrench."

The S&P 500 fell 137.63 points, or 4.4%, to 2,978.76, its biggest one-day drop since 2011.

The Dow fell 1,190.95 points, or 4.4%, to 25,766.64. The Nasdaq dropped 414.29 points, or 4.6%, to 8,566.48. The Russell 2000 index of smaller company stocks lost 54.89 points, or 3.5%, to 1,497.87.

The S&P/ASX 200 index looks set to finish the week on a very disappointing note after global markets continued to be sold off. According to the latest SPI futures, the ASX 200 is expected to open the day 94 points of 1.4% lower.










https://www.usnews.com/news/busines...sharply-lower-dow-10-below-recent-record-high

*Stock Market Rout Deepens on Virus Worries; Indexes Lose 4%*
The Dow Jones Industrial Average sank nearly 1,200 points Thursday, deepening a weeklong global market rout caused by worries that the coronavirus outbreak will wreak havoc on the global economy.
By Associated Press, Wire Service Content Feb. 27, 2020, at 4:36 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

The Dow Jones Industrial Average sank nearly 1,200 points Thursday, deepening a week long global market rout caused by worries that the coronavirus outbreak will wreak havoc on the global economy.

Bond prices soared again, sending the yield on the 10-year Treasury to another record low. When yields fall it's a sign that investors are feeling less confident about the strength of the economy going forward.

"People can demand things that feel safe for irrational amounts of time," said Katy Kaminski, chief research strategist at AlphaSimplex Group. "It doesn't matter, the fundamentals, when people are worried."

The latest losses extended a slide in stocks that has wiped out the solid gains the major indexes had posted early this year.

The S&P 500 is now 12% below the all-time high it set just a week ago. This is now the stock market’s worst week since October 2008, when Wall Street was mired in the financial crisis.

Investors came into 2020 feeling confident that the Federal Reserve would keep interest rates at low levels and the U.S.-China trade war posed less of a threat to company profits after the two sides reached a preliminary agreement in January. The virus outbreak has upended that rosy scenario as economists lower their expectations for economic growth and companies warn of a hit to their business.

The S&P 500 index's sharp decline from its last record high puts it in what market watchers call a “correction,” a normal phenomenon that analysts have said was long overdue in this bull market, which is the longest in history.

Microsoft warned that the virus outbreak had interrupted its supply lines and would hurt its financial performance, following a similar warning last week from Apple. The two stocks led another sell-off among technology companies. Energy stocks fell sharply as the price of oil dropped 3.4%.

“This is a market that’s being driven completely by fear,” said Elaine Stokes, portfolio manager at Loomis Sayles, with market movements following the classic characteristics of a fear trade: stocks are down, commodities are down and bonds are up.

Stokes said the swoon reminded her of the market’s reaction following the Sept. 11, 2001 terrorist attacks.

“Eventually we’re going to get to a place where this fear, it’s something that we get used to living with, the same way we got used to living with the threat of living with terrorism,” she said. “But right now, people don’t know how or when we’re going to get there, and what people do in that situation is to retrench."

The S&P 500 fell 137.63 points, or 4.4%, to 2,978.76, its biggest one-day drop since 2011.

The Dow fell 1,190.95 points, or 4.4%, to 25,766.64. The Nasdaq dropped 414.29 points, or 4.6%, to 8,566.48. The Russell 2000 index of smaller company stocks lost 54.89 points, or 3.5%, to 1,497.87.

The virus has now infected more than 82,000 people globally and is worrying governments with its rapid spread beyond the epicenter of China.

Japan will close schools nationwide to help control the spread of the new virus. Saudi Arabia banned foreign pilgrims from entering the kingdom to visit Islam’s holiest sites. Italy has become the center of the outbreak in Europe, with the spread threatening the financial and industrial centers of that nation.

At their heart, stock prices rise and fall with the profits that companies make. And Wall Street’s expectations for profit growth are sliding away. Apple and Microsoft, two of the world’s biggest companies, have already said their sales this quarter will feel the economic effects of the virus.

Goldman Sachs on Thursday said earnings for companies in the S&P 500 index might not grow at all this year, after predicting earlier that they would grow 5.5%. Strategist David Kostin also cut his growth forecast for earnings next year.

Besides a sharply weaker Chinese economy in the first quarter of this year, he sees lower demand for U.S. exporters, disruptions to supply chains and general uncertainty eating away at earnings growth.

Such cuts are even more impactful now because stocks are already trading at high levels relative to their earnings, raising the risk. Before the virus worries exploded, investors had been pushing stocks higher on expectations that strong profit growth was set to resume for companies.

The S&P 500 was recently trading at its most expensive level, relative to its expected earnings per share, since the dot-com bubble was deflating in 2002, according to FactSet. If profit growth doesn’t ramp up this year, that makes a highly priced stock market even more vulnerable.

Goldman Sach’s Kostin said the S&P 500 could fall to 2,900 in the near term, which would be a nearly 7% drop from Wednesday’s close, before rebounding to 3,400 by the end of the year.

Traders are growing increasingly certain that the Federal Reserve will be forced to cut interest rates to protect the economy, and soon. They’re pricing in a better than two-in-three probability of a cut at the Fed’s next meeting in March. Just a day before, they were calling for only a one-in-three chance.

A handful of companies have managed to gain ground in the latest rout of stocks. Medical teleconferencing company Teladoc surged 15.7% and 3M, which counts surgical masks among its many products, rose 0.8%.

The market's sharp drop this week partly reflects increasing fears among many economists that the U.S. and global economies could take a bigger hit from the coronavirus than they previously thought.

Earlier assumptions that the impact would largely be contained in China and would temporarily disrupt manufacturing supply chains have been overtaken by concerns that as the virus spreads, more people in numerous countries will stay home, either voluntarily or under quarantine. Vacations could be canceled, restaurant meals skipped, and fewer shopping trips taken.

"A global recession is likely if COVID-19 becomes a pandemic, and the odds of that are uncomfortably high and rising with infections surging in Italy and Korea," said Mark Zandi, chief economist at Moody's Analytics.

The market rout will also likely weaken Americans' confidence in the economy, analysts say, even among those who don't own shares. Such volatility can worry people about their own companies and job security. In addition, Americans that do own stocks feel less wealthy. Both of those trends can combine to discourage consumer spending and slow growth.

550


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## bigdog

Stocks sank again Friday after another wild day on Wall Street, extending a rout that handed the market its worst week since October 2008 at the height of the financial crisis.

The market clawed back much of its intraday losses in the last 15 minutes of trading as some buyers emerged, keeping the indexes from another steep plunge.

The Dow Jones Industrial Average swung back from an early slide of more than 1,000 points to close around 350 points lower. The S&P 500 fell 0.8% and is now down 13% since hitting a record high just 10 days ago. The Nasdaq reversed an early decline to finish flat.

The market's losses moderated somewhat after the Federal Reserve released a statement saying it stood ready to help the economy if needed. Investors increasingly expect the Fed to cut rates at its next policy meeting in mid-March.

Global financial markets have been rattled by the virus outbreak that has been shutting down industrial centers, emptying shops and severely crimping travel all over the world. More companies are warning investors that their finances will take a hit because of disruptions to supply chains and sales. Governments are taking increasingly drastic measures as they scramble to contain the virus.

The rout has knocked every major index into what market watchers call a “correction,” or a fall of 10% or more from a peak. The last time that occurred was in late 2018, as a tariff war with China was escalating. Market watchers have said for months that stocks were overpriced and long overdue for another pullback.

The Dow fell 357.28 points, or 1.4%, to 25,409.36. The S&P 500 slid 24.54 points, or 0.8%, to 2,954.22. The Nasdaq rose 0.89 points, or less than 0.1%, to 8,567.37. The Russell 2000 index of smaller company stocks lost 21.40 points, or 1.4%, to 1,476.47.











*3 month chart comparison








*

https://www.usnews.com/news/busines...pen-sharply-lower-on-wall-street-dow-sinks-18

*Wall Street Has Worst Week Since 2008 as S&P 500 Drops 11.5%*
Stocks sank again after another wild day, extending a rout that left the market with its worst week since October 2008.
By Associated Press, Wire Service Content Feb. 28, 2020, at 5:08 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Stocks sank again Friday after another wild day on Wall Street, extending a rout that handed the market its worst week since October 2008 at the height of the financial crisis.

The market clawed back much of its intraday losses in the last 15 minutes of trading as some buyers emerged, keeping the indexes from another steep plunge.

The Dow Jones Industrial Average swung back from an early slide of more than 1,000 points to close around 350 points lower. The S&P 500 fell 0.8% and is now down 13% since hitting a record high just 10 days ago. The Nasdaq reversed an early decline to finish flat.

The market's losses moderated somewhat after the Federal Reserve released a statement saying it stood ready to help the economy if needed. Investors increasingly expect the Fed to cut rates at its next policy meeting in mid-March.

Global financial markets have been rattled by the virus outbreak that has been shutting down industrial centers, emptying shops and severely crimping travel all over the world. More companies are warning investors that their finances will take a hit because of disruptions to supply chains and sales. Governments are taking increasingly drastic measures as they scramble to contain the virus.

The rout has knocked every major index into what market watchers call a “correction,” or a fall of 10% or more from a peak. The last time that occurred was in late 2018, as a tariff war with China was escalating. Market watchers have said for months that stocks were overpriced and long overdue for another pullback.

Bond prices soared again as investors sought safety and became more pessimistic about the economy's prospects. That pushed yields to more record lows. The yield on the 10-year Treasury note fell sharply, to 1.14% from 1.30% late Thursday. That's a record low, according to TradeWeb. That yield is a benchmark for home mortgages and many other kinds of loans.

Crude oil prices sank 4.9% over worries that global travel and shipping will be severely crimped and hurt demand for energy. The price of benchmark U.S. crude has now fallen 15% this week.

“All this says to us is that there are still a lot of worries in the market,” said Gene Goldman, chief investment officer at Cetera Financial Group. “We need the Fed to come out and say basically guys, we got your back.”

Traders have been growing more certain that the Federal Reserve will be forced to cut interest rates to protect the economy, and soon. Goldman said the Fed’s current lack of action amounts to a tightening of rates compared with other nations and their actions to offset the impact of the coronavirus.

Investors now widely expect the Fed to cut interest rates by a half-point at its meeting that winds up March 18. According to data from the Chicago Mercantile Exchange's Fedwatch tool, the expectations for a half-point cut jumped from 47% just before the Fed's statement was released to 60% by the close of trading.

The damage from a week of almost relentless selling was eye-popping: The Dow Jones Industrial Average fell 3,583 points, or 12.4%. Microsoft and Apple, the two most valuable companies in the S&P 500, lost a combined $300 billion. In a sign of the severity of the concern about the possible economic blow, the price of oil sank 16%.

The latest losses have wiped out the S&P 500's gains going back to October. The benchmark index is still up 6.1% over the past 12 months, not including dividends.

The sell-off follows months of uncertainty about the spread of the virus, which hit China in December and shut down large swaths of that nation by January. China is still the hardest hit country and has most of the 83,000 cases worldwide and related deaths.

Uncertainty turned into fear as the virus started jumping to places outside of the epicenter and dashed hopes for containment.

"Fear is a stronger emotion than hope," said Ann Miletti, head of active equity at Wells Fargo Asset Management. "This is what we’re seeing today and this week and over the past seven days.

Airlines have suffered some of the worst hits as flight routes are cancelled, along with travel plans. Big names like Apple and Budweiser brewer AB InBev are part of a growing list of companies expecting financial pain from the virus. Dell and athletic-wear company Columbia Sportswear are the latest companies expecting an impact to their bottom lines.

Cruise operators have also been hard hit, with shares sinking 30% or more as shipboard infections rose. But those companies were having a far better day Friday, with some on Wall Street believing that the sell-off was overdone. Shares of Royal Caribbean Cruises rose 4.4%, while Norwegian Cruise Line Holdings gained 7.3%. Carnival's shares climbed 5.1%.

A big concern investors have is that the stock market rout could have a psychological effect on consumers, making them reluctant to spend money and go to crowded places like stores, restaurants and movie theaters.

The late-2018 stock market plunge, for instance, derailed holiday sales that year. Now, analysts are worried that the latest stock swoon could cause consumer spending — which makes up some 70% of the economy and has played a huge role in keeping the U.S. expansion going — to contract again.

Craig Johnson, president of Customer Growth Partners, a consumer consultancy, says he had expected annual retail sales to be up 4.1%, but he now says it could increase just 2.2% if the impact of the new virus in China persists beyond April.

‘’This is a moving target right now,”’ he said. ‘’There is a lot of uncertainty.’’

Many companies face the prospect of crimped financial results with their stocks already trading at high levels relative to their earnings. Before the virus worries exploded, investors had been pushing stocks higher on expectations that strong profit growth was set to resume for companies after declining for most of 2019.

Nearly 60 nations representing every continent, except Antarctica, have confirmed cases. The virus outbreak has prompted a wide range of reactions from nations hoping to contain its spread and economic impact.

The Geneva auto show was cancelled as Swiss authorities banned large events of more than 1,000 people. Parts of Italy’s northern industrial and financial center remain under quarantine.

MARKET ROUNDUP:

The Dow fell 357.28 points, or 1.4%, to 25,409.36. The S&P 500 slid 24.54 points, or 0.8%, to 2,954.22. The Nasdaq rose 0.89 points, or less than 0.1%, to 8,567.37. The Russell 2000 index of smaller company stocks lost 21.40 points, or 1.4%, to 1,476.47.

In commodities trading, benchmark crude oil fell $2.33 to settle at $44.76 a barrel. Brent crude oil, the international standard, dropped $1.66 to close at $50.52 a barrel. Wholesale gasoline fell 2 cents to $1.39 per gallon. Heating oil was unchanged at $1.49 per gallon. Natural gas fell 7 cents to $1.68 per 1,000 cubic feet.

Gold fell $75.90 to $1,564.10 per ounce, silver fell $1.27 cents to $16.39 per ounce and copper fell 2 cents to $2.55 per pound.

The dollar fell to 108.42 Japanese yen from 109.95 yen on Thursday. The euro weakened to $1.0967 from $1.0987.

623


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## Dona Ferentes

Sorry to steal your thunder, _perro grande



			The US central bank boss signalled he's open to cutting interest rates. The initial reaction was muted. Then, with the closing bell in sight, the Dow pared its losses by 600 points to end the day down 357 points or 1.4 per cent. It lost *12.4pc on the week*.
		
Click to expand...


_
Big ouch. Significant ouch.


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## bigdog

The S&P/ASX 200 index looks set to start the week in the red. According to the latest SPI futures, the ASX 200 is poised to tumble 0.6% or 40 points at the open.


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## bigdog

The Dow Jones Industrial Average soared nearly 1,300 points, or 5%, Monday as stocks roared back from a seven-day rout on hopes that central banks will take action to shield the global economy from the effects of the coronavirus outbreak.

The huge gains clawed back some of the ground lost in a massive sell-off that gave stocks their worst week since the financial crisis of 2008.

Technology companies led the broad gains, which gave the Dow its biggest-ever point gain and biggest percentage increase since March 2009. The S&P 500 index jumped 4.6%, its best day since December 2018.

European benchmarks were mostly higher, and Asian markets rose broadly.

The Dow jumped 1,293.96 points, or 5.1%, to 26,703.32. The S&P 500 index gained 136.01 points, or 4.6%, to 3,090.23. The Nasdaq added 384.80 points, or 4.5%, to 8,952.16. The Russell 2000 index of smaller company stocks picked up 42.06 points, or 2.9%, to 1,518.49. Even with Monday's big rally, the major U.S. indexes remain in the red for the year.

The S&P/ASX 200 index looks set to open the day lower on Tuesday despite a positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to fall 0.6% or 39 points at the open.










https://www.usnews.com/news/busines...-higher-on-wall-street-following-a-7-day-rout

*Dow Surges 5% on Hopes for Central Bank Help on the Economy*
The Dow Jones Industrial Average surged nearly 1,300 points, or 5%, on hopes that central banks will take action to shelter the global economy from the effects of the coronavirus outbreak.
By Associated Press, Wire Service Content March 2, 2020, at 5:00 p.m. 

ALEX VEIGA, AP Business Writer

The Dow Jones Industrial Average soared nearly 1,300 points, or 5%, Monday as stocks roared back from a seven-day rout on hopes that central banks will take action to shield the global economy from the effects of the coronavirus outbreak.

The huge gains clawed back some of the ground lost in a massive sell-off that gave stocks their worst week since the financial crisis of 2008.

Technology companies led the broad gains, which gave the Dow its biggest-ever point gain and biggest percentage increase since March 2009. The S&P 500 index jumped 4.6%, its best day since December 2018.

European benchmarks were mostly higher, and Asian markets rose broadly.

Bond prices fell, pushing yields higher after having touched another record low earlier in the day. The yield on the 10-year Treasury note rose to 1.15% from 1.12% late Friday.

The virus outbreak that began in central China has been shutting down industrial centers, emptying shops and severely crimping travel all over the world. More companies are warning investors that their finances will take a hit because of disruptions to supply chains and sales.

Investors are increasingly anticipating that the Federal Reserve and other major central banks around the world will lower interest rates or take other steps to shield the global economy from the effects of the outbreak.

“Investors have convinced themselves that global central banks will likely be even more accommodative in order to short-circuit any psychological damage, ” said Sam Stovall, chief investment strategist at CFRA.

Bill Nelson, chief economist at the Bank Policy Institute and a former Fed economist, said the Fed and other major central banks, possibly including China's, could announce coordinated rate cuts by Wednesday morning. The cut would at least be a half-point and perhaps even three-quarters, he said.

“The only way to get a positive market reaction is to deliver more than expected,” he said.

The International Monetary Fund and World Bank announced simultaneously Monday that they are ready to help countries affected by the coronavirus through their emergency lending programs and other tools.

"We will use our available instruments to the fullest extent possible," the IMF managing director, Kristalina Georgieva, and World Bank President David Malpass said in a joint statement. "International cooperation is essential."

The statement echoed similar promises to act if necessary from the Federal Reserve on Friday and the Bank of Japan over the weekend. Traders have priced in a 100% probability that the Fed will cut rates by a half-percentage point during or before its March meeting.

One encouraging sign to traders is that the finance ministers and central bank leaders of the Group of Seven major industrial countries will hold a conference call on Tuesday to discuss an economic response to the viral outbreak.

U.S. Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell will lead the call. The group includes Japan, Germany, Britain, and France, among others. The G-7 often issues statements pledging cooperation amid global economic turbulence.

There were signs that the economic impact was continuing to mount. A measure of China's manufacturing output plunged last month to its lowest level on record, as the viral outbreak closed factories and disrupted supply chains.

And the Organization for Economic Development, a research organization made up of mostly advanced economies, said Monday that the viral outbreak “presents the global economy with its greatest danger since the financial crisis" in 2008.

The OECD cut its world growth forecast and said that even if there are only limited outbreaks outside China, the global economy will grow just 2.4% this year, the weakest since the crisis. That forecast matches several private estimates.

If other countries are hit with outbreaks similar to China's, growth could fall as low as 1.5%, the OECD said.

Separately, economists at Goldman Sachs slashed their forecasts for U.S. growth to just 0.9% in the first quarter and to zero for the April-June quarter.

For investors, the great amount of uncertainty over how consumer behavior and spending will be affected has been unsettling.

“It’s not a typical economic blow," said Bill Strazzullo of Bell Curve Trading. "What if major cities are on some kind of a lockdown? What will that do to restaurants, entertainment, shopping, travel? It's almost impossible to game this out.”

Last week's rout knocked every major index into what market watchers call a "correction," or a fall of 10% or more from a peak. Market watchers have said for months that stocks were overpriced and long overdue for another pullback.

The last time the market had a drop of that size was in late 2018, when the trade war with China was escalating and investors were worried about rising interest rates. With Monday's surge, the S&P 500 is now 8.7% below the record high it reached February 19.

The stock surge notwithstanding, the fact that investors are holding onto Treasurys at near record-low yields shows they are still worried.

“The fear factor is still very high,” said Kirk Hartman, president of Wells Fargo Asset Management. “Do you really want to own a 10-year Treasury at 1 percent? I don’t think so. I think this is a classic market in crisis.”

Shoppers stocking up on everyday goods as fear over the coronavirus' spread hits consumers helped lift shares in household goods companies. Costco jumped 10%. Walmart rose 7.6%. Procter & Gamble gained 5.6%.

Technology and health care stocks accounted for a big share of the gains. Apple climbed 9.3% and Gilead Sciences rose 8.7%. The biotechnology company has been testing one of its drugs as a potential treatment for the coronavirus.

Stimulus hopes helped shore up markets in Asia earlier. The Nikkei 225 index closed 1% higher, while the Shanghai Composite index rose 3.2%.

China has seen most of the 90,000 or so virus cases worldwide. In the United States, authorities have counted at least 80 cases of the virus, six fatal, and concern was driving some to wipe store shelves clean of bottled water, hand sanitizer and other necessities. Both deaths were men with existing health problems who were hospitalized in Washington state.

MARKET ROUNDUP:

The Dow jumped 1,293.96 points, or 5.1%, to 26,703.32. The S&P 500 index gained 136.01 points, or 4.6%, to 3,090.23. The Nasdaq added 384.80 points, or 4.5%, to 8,952.16. The Russell 2000 index of smaller company stocks picked up 42.06 points, or 2.9%, to 1,518.49. Even with Monday's big rally, the major U.S. indexes remain in the red for the year.

Oil prices have also slumped as traders priced in the prospect of lower demand as a result of the virus outbreak. Last week, oil prices tanked by around 15%. On Monday, benchmark U.S. crude rose $1.99, or 4.4%, to settle at $46.75 a barrel. Brent, the international standard, gained $2.23 to close at $51.90.

Wholesale gasoline rose 57 cents to $1.54 per gallon. Heating oil climbed 5 cents to $1.53 per gallon. Natural gas rose 7 cents to $1.76 per 1,000 cubic feet.

Gold rose $28.20 to $1,592.30 per ounce, silver rose 29 cents to $16.68 per ounce and copper rose 5 cents to $2.60 per pound.

The dollar fell to 107.87 Japanese yen from 108.42 yen on Friday. The euro strengthened to $1.1163 from $1.1028.


----------



## bigdog

Fear and uncertainty continue to control Wall Street, and stocks fell sharply Tuesday after an emergency interest-rate cut by the Federal Reserve failed to reassure markets wracked by worries that a fast-spreading virus will cause a recession.

The Dow Jones Industrial average sank 785 points, or 2.9%. It had surged 5% a day earlier on hopes for a broader set of stimulus measures.

While the cut gave some investors exactly what they had been asking for, Federal Reserve Chairman Jerome Powell acknowledged that the ultimate solution to the virus challenge will have to come from health experts and others, not central banks. Some traders are also questioning whether more aid is on the way to stabilize the market, while others called the Fed's move premature to begin with. For more than a few, the Fed's steepest rate cut since 2008 recalled the dark days of the financial crisis and only added to the dread.

Through it all, markets are still faced with the same quandary that has sent stock prices tumbling 11% since they set a record just two weeks ago: No one knows how far the virus will ultimately spread before authorities can get it under control, and by how much companies' profits will be shorn because of it.

That uncertainty led to jagged trading across markets on Tuesday. Stocks rallied briefly in the morning following the Fed's surprise move, but it took just 15 minutes for the gains to evaporate. The yield on the 10-year Treasury fell below 1% for the first time in history as investors ratcheted back expectations for the economy and inflation. A gauge measuring traders’ fear of upcoming swings for stocks jerked wildly up and down through the day.

After popping to a 1.5% gain shortly after the Fed's announcement, the S&P 500 swung between modest gains and losses for about an hour before turning decisively lower. The index ended the day down 86.86 points, or 2.8%, at 3,003.37. It pared a loss that reached 3.7% in the mid-afternoon, and it marks the eighth drop in the last nine days for the index.

The S&P 500 fell 86.86 points, or 2.8%, at 3,003.37. The Dow Jones Industrial Average lost 785.91 points, or 2.9%, to 25,917.41, and the Nasdaq fell 268.07, or 3%, to 8,684.09.

Gold up +45.80

The S&P/ASX 200 index looks set to give back yesterday’s gains and more after Wall Street tumbled lower overnight. According to the latest SPI futures, the ASX 200 is poised to drop 131 points or 2.1% lower at the open.










https://www.usnews.com/news/busines...pen-lower-after-g-7-holds-off-on-new-stimulus

*Dow Sinks 2.9% After Rate Cut Fails to Stem Market's Dread*
The Dow Jones Industrial Average dropped 785 points and bond prices surged after an emergency interest-rate cut by the Federal Reserve failed to reassure markets racked by worries that a fast-spreading virus outbreak could lead to a recession.
By Associated Press, Wire Service Content March 3, 2020, at 4:19 p.m.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Fear and uncertainty continue to control Wall Street, and stocks fell sharply Tuesday after an emergency interest-rate cut by the Federal Reserve failed to reassure markets wracked by worries that a fast-spreading virus will cause a recession.

The Dow Jones Industrial average sank 785 points, or 2.9%. It had surged 5% a day earlier on hopes for a broader set of stimulus measures.

While the cut gave some investors exactly what they had been asking for, Federal Reserve Chairman Jerome Powell acknowledged that the ultimate solution to the virus challenge will have to come from health experts and others, not central banks. Some traders are also questioning whether more aid is on the way to stabilize the market, while others called the Fed's move premature to begin with. For more than a few, the Fed's steepest rate cut since 2008 recalled the dark days of the financial crisis and only added to the dread.

Through it all, markets are still faced with the same quandary that has sent stock prices tumbling 11% since they set a record just two weeks ago: No one knows how far the virus will ultimately spread before authorities can get it under control, and by how much companies' profits will be shorn because of it.

That uncertainty led to jagged trading across markets on Tuesday. Stocks rallied briefly in the morning following the Fed's surprise move, but it took just 15 minutes for the gains to evaporate. The yield on the 10-year Treasury fell below 1% for the first time in history as investors ratcheted back expectations for the economy and inflation. A gauge measuring traders’ fear of upcoming swings for stocks jerked wildly up and down through the day.

After popping to a 1.5% gain shortly after the Fed's announcement, the S&P 500 swung between modest gains and losses for about an hour before turning decisively lower. The index ended the day down 86.86 points, or 2.8%, at 3,003.37. It pared a loss that reached 3.7% in the mid-afternoon, and it marks the eighth drop in the last nine days for the index.

The Fed has a long history of coming to the market's rescue with lower rates and other stimulus, which has helped this bull market in U.S. stocks become the longest on record. Some analysts said the Fed's latest cut could provide some more confidence.

“Confidence in markets is crucial,” said Quincy Krosby, chief market strategist at Prudential Financial. “Without confidence, you don’t have a market.”

The Dow Jones Industrial Average had jumped Monday to its best day in more than a decade on rising anticipation for aid from the Fed and other central banks. Even before Tuesday's announcement, traders were convinced that the Fed would cut rates by half a percentage point on March 18 at its next meeting.

But doubts are high about whether the medicine provided by central banks can be as effective this time around. Lower rates can encourage shoppers and businesses to borrow and spend more, but they can't reopen factories that have been shut or recall workers out due to quarantines.

After the Fed’s announcement, Powell acknowledged that central banks can't solve the health crisis. But he said the Fed recognizes the fast spread of the virus is a risk for the economy, and he cited concerns from the travel and hotel industries. Powell said that since last week, when several Fed officials had said they saw no urgent need to cut rates, “we have seen a broader spread of the virus."

The high stakes pushed the Fed to cut rates outside of a regularly scheduled meeting for the first time since the 2008 financial crisis, when investors were considering a complete meltdown of the world's financial system as possible if not likely. That in itself may have spooked the market, as some investors wondered if the Fed saw things as worse than they were led to believe.

“I don’t believe that market participants woke up this morning thinking we were facing a crisis similar to the global financial crisis," said Kristina Hooper, chief global market strategist at Invesco. "But that’s what the Fed’s actions suggested to some.”

She said investors will likely have mixed emotions about the move for days.

Some economists called the Fed's move premature, given that U.S. economic data has yet to show a sharp drop due to the virus.

"The nature of today's announcement could send the wrong signal to market participants, including individual investors who are concerned with recent market volatility," said Roger Aliaga-Diaz, chief economist of the Americas at Vanguard.

Markets are likely to remain shaky until investors get a sense of what the worst-case scenario really is in this virus outbreak. Markets have been on edge for nearly two weeks, as the virus spreads beyond China and companies across continents and industries say they expect it to hit their profits.

Payments processor Visa on Tuesday joined the lengthening list of companies warning investors. It said its quarterly revenue will be weaker than earlier predicted because of a drop-off in travel-related spending on cards.

"To get a floor on the markets, realistically, what we need to see is not so much a cut in the number of new coronavirus cases, but at least a slowdown in the acceleration," said Salvatore Bruno, chief investment officer for IndexIQ. "Up until that time, we're likely to see a lot of volatility."

Worldwide, more than 92,000 people have been sickened, and over 3,100 have died. The number of countries hit by the virus has reached at least 70, with Ukraine and Morocco reporting their first cases.

The topsy-turvy Tuesday got off to a slow trading start in the United States. Earlier in the day, the Group of Seven major industrialized countries pledged support for the global economy, but they stopped short of announcing any specific new measures. Disappointment in the lack of action helped push U.S. stocks lower at the opening of trading, before the Fed surprised markets with its announcement of the steep, half-point rate cut at 10 a.m. Eastern time.

Investors are still speculating whether other central banks will join and cut rates and offer stimulus in a coordinated effort around the world. Before the Fed made its move, the Reserve Bank of Australia cut its key interest rate to a record low 0.5%.

U.S. markets have been hit hard by fear over the virus’ impact. Monday's surge for stocks on hopes that central banks will come to the rescue followed a broad sell-off last week that erased gains for 2020 and sent indexes into what market watchers call a "correction," or a fall of 10% or more from a peak. Last week was the worst for the S&P 500 since the financial crisis.

MARKET ROUNDUP:

The S&P 500 fell 86.86 points, or 2.8%, at 3,003.37. The Dow Jones Industrial Average lost 785.91 points, or 2.9%, to 25,917.41, and the Nasdaq fell 268.07, or 3%, to 8,684.09.

European stock markets were broadly higher, with the German DAX returning 1.1%, the French CAC 40 up 1.1% and the FTSE 100 up 1%. In Asia, Japan's Nikkei 225 fell 1.2%, South Korea’s Kospi rose 0.6%, and stocks in Shanghai added 0.7%.

Bond yields swung following the Fed's announcement. The yield on the 10-year Treasury slumped to 1.01% from 1.08% late Monday after earlier dropping below the 1% threshold for the first time. The 10-year yield tends to fall when expectations are for weak economic growth and inflation. Shorter-term yields, which move more on Fed actions, had even more dramatic drops. The two-year Treasury yield sank to 0.71% from 0.81%.


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## bigdog

The Dow Jones Industrial Average soared more than 1,100 points, or 4.5%, Wednesday as governments and central banks around the globe took more aggressive measures to fight the virus outbreak and its effects on the economy.

The gains more than recouped the market's big losses from a day earlier as Wall Street's wild, virus-fueled swings extend into a third week.

Stocks rose sharply from the get-go, led by big gains for health care stocks after Joe Biden solidified his contender status for the Democratic presidential nomination. Investors see him as a more business-friendly alternative to Bernie Sanders.

The rally's momentum accelerated around midday after House and Senate leadership reached a deal on a bipartisan $8.3 billion bill to battle the coronavirus outbreak. The measure's funds would go toward research into a vaccine, improved tests and drugs to treat infected people.

Investors are also anticipating other central banks will follow up on the Federal Reserve’s surprise move Tuesday to slash interest rates by half a percentage point in hopes of protecting the economy from the economic fallout of a fast-spreading virus. Canada's central bank cut rates on Wednesday, also by half a percentage point and citing the virus' effect.

The S&P 500 rose 126.75 points, or 4.2%, to 3,130.12. The benchmark index has had five days in the last two weeks where it swung by more than 3%. In all of last year, it had just one.

The Dow gained 1,173.45 points to 27,090.86. The Nasdaq climbed 334 points, or 3.8%, to 9,018.09. The index, which is heavily weighted with technology companies, now has a slight gain for the year.

The Russell 2000 index of smaller company stocks rose 45.11 points, or 3%, to 1,531.20.

The S&P/ASX 200 index looks set to rebound strongly on Thursday after a very positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to jump 76 points or 1.2% at the open

*New ASX Tech added to indexs*














https://www.usnews.com/news/busines...ls-surge-500-points-extending-volatile-streak

*Stocks Soar on Plans for More Stimulus Measures, Biden Wins*
The Dow Jones Industrial Average soared more than 1,100 points, or 4.5%, Wednesday as governments and central banks around the globe took more aggressive measures to fight the virus outbreak and its effects on the economy.
By Associated Press, Wire Service Content March 4, 2020, at 5:10 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

The Dow Jones Industrial Average soared more than 1,100 points, or 4.5%, Wednesday as governments and central banks around the globe took more aggressive measures to fight the virus outbreak and its effects on the economy.

The gains more than recouped the market's big losses from a day earlier as Wall Street's wild, virus-fueled swings extend into a third week.

Stocks rose sharply from the get-go, led by big gains for health care stocks after Joe Biden solidified his contender status for the Democratic presidential nomination. Investors see him as a more business-friendly alternative to Bernie Sanders.

The rally's momentum accelerated around midday after House and Senate leadership reached a deal on a bipartisan $8.3 billion bill to battle the coronavirus outbreak. The measure's funds would go toward research into a vaccine, improved tests and drugs to treat infected people.

Investors are also anticipating other central banks will follow up on the Federal Reserve’s surprise move Tuesday to slash interest rates by half a percentage point in hopes of protecting the economy from the economic fallout of a fast-spreading virus. Canada's central bank cut rates on Wednesday, also by half a percentage point and citing the virus' effect.

“The fact that you get an $8 billion bill, that's money that will be spent, hopefully, on something that really will have an impact on mitigating the effects on the economy,” said Tom Martin, senior portfolio manager with Globalt Investments.

Some measures of fear in the market eased. Treasury yields rose but were still near record lows in a sign that the bond market remains concerned about the economic pain possible from the fast-spreading virus. Companies around the world are already saying the virus is sapping away earnings due to supply chain disruptions and weaker sales, with General Electric becoming the latest to warn its investors.

Even though many investors say they know lower interest rates will not halt the spread of the virus, they want to see central banks and other authorities do what they can to lessen the damage. The S&P 500 sank 2.8% on Tuesday after a brief relief rally triggered by the Fed’s rate cut fizzled.

“Monetary policy can only take us so far, but at least it’s a step,” said Jack Ablin, chief investment officer at Cresset. "Investors will take comfort in coordinated central bank action. I take comfort in knowing this isn’t the plague, we’ll eventually get through this.”

The Bank of England has a meeting on March 26 on interest rates. The European Central Bank and others around the world have already cut rates below zero, meanwhile, which limits their monetary policy firepower. But economists say they could make other moves, such as freeing up banks to lend more.

An indicator of fear in the market, which measures how much traders are paying to protect themselves from future swings for the S&P 500, sank 14.1%.

Health care stocks in the S&P 500 jumped 5.8% for the biggest gain among the 11 sectors that make up the index. UnitedHealth Group jumped 10.7%, Cigna climbed 10.7%. and Anthem soared 15.6%, the biggest gainer in the S&P 500.

A Biden nomination would be more welcome on Wall Street than a nod for Sanders, who is campaigning on a proposal to enact “Medicare For All.”

“It’s probably a trend toward more of the same in terms of the market and the regulatory and business environment,” said Ablin. “I don’t think investors are looking for revolution.”

Data reports released Wednesday painted a U.S. economy that was still holding up, at least as of last month. The country's services industries grew at a faster rate last month than economists expected, according to a report from the Institute for Supply Management. Hiring at private employers was stronger than expected in February, according to a report from payroll processor ADP, though slower than January's pace. That could be an encouraging sign for the comprehensive jobs report coming from the government at the end of the week.

Markets have been on edge for two weeks, with the S&P 500 down 7.6% from its record on Feb. 19, amid worries about how much economic damage the coronavirus will do. The big swings in recent days will likely continue until investors get a sense of what the worst-case scenario really is in the virus outbreak. They need to see the number of new infections at least slow its acceleration, analysts say.

Indexes jumped on Monday, and the Dow had its best day in more than a decade on rising anticipation for coordinated support from the Fed and other central banks. That followed a dismal week that erased gains for 2020.

MARKET ROUNDUP:

The S&P 500 rose 126.75 points, or 4.2%, to 3,130.12. The benchmark index has had five days in the last two weeks where it swung by more than 3%. In all of last year, it had just one.

The Dow gained 1,173.45 points to 27,090.86. The Nasdaq climbed 334 points, or 3.8%, to 9,018.09. The index, which is heavily weighted with technology companies, now has a slight gain for the year.

The Russell 2000 index of smaller company stocks rose 45.11 points, or 3%, to 1,531.20.

The tide also rose for stocks around the world on Wednesday. In Europe, Germany's DAX climbed 1.2%, the French CAC 40 rose 1.3% and the FTSE 100 in London gained 1.4%. In Asia, South Korea's Kospi jumped 2.2%. Japan's Nikkei 225 inched up 0.1%, the Hang Seng in Hong Kong slipped 0.2% and stocks in Shanghai rose 0.6%.

The yield on the 10-year Treasury rose to 1.06% from 1.01% late Tuesday after earlier dipping back below 1%. Yields tend to rise with expectations for the economy and inflation. Shorter-term yields fell as traders increased bets for more rate cuts from the Fed later this year. The two-year Treasury yield fell to 0.69% from 0.71%.

In commodities trading, benchmark crude oil fell 40 cents to settle at $46.78 a barrel. Brent crude oil, the international standard, dropped 73 cents to close at $51.13 a barrel. Wholesale gasoline rose 3 cents to $1.56 per gallon. Heating oil was unchanged at $1.53 per gallon. Natural gas rose 3 cents to $1.83 per 1,000 cubic feet.

Gold fell $1.40 to $1,643 per ounce, silver rose 6 cents to $17.25 per ounce and copper rose 1 cent to $2.59 per pound.

The dollar rose to 107.33 Japanese yen from 107.24 yen on Tuesday. The euro weakened to $1.1139 from $1.1176.


----------



## bigdog

Fear dominated financial markets again on Thursday, and stocks fell sharply on worries about the fast-spreading virus outbreak. It's the latest shudder in Wall Street's most volatile week in more than eight years.

Major U.S. indexes lost roughly 3.5%, and Treasury yields touched more record lows in their latest yo-yo move. The slide nearly wiped out the surge stocks had ridden just a day earlier, which came in part on hopes that moves by authorities around the world could cushion the economic fallout. These vicious swings are likely to continue, as long as the number of new infections continues to accelerate, many analysts and professional investors say. Thursday was the fourth straight day where the S&P 500 moved at least 2%, the longest such stretch since the summer of 2011.

The growing understanding that the spread of infections — and resulting damage to the economy — may not slow anytime soon is pulling sharply on markets. That pull has taken turns this week with the increasingly worldwide push that governments and central banks are trying to give markets through spending plans and interest-rate cuts.

The yield on the 10-year Treasury note went as low as 0.901% for the first time in history, according to Tradeweb. Tumbling yields have brought the average rate on a 30-year fixed mortgage to a record low of 3.29%.

“It’s been a roller-coaster market in recent days for equity investors, and today we appear to be on the downward leg for that ride,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. “What you need is time, and unfortunately that is still going to result in volatility.”

In China, where the number of new infections has been slowing drastically, stocks trading in Shanghai have rallied nearly 12% since hitting a bottom on Feb. 3. Factories there are gradually reopening, and a return to a sense of normal life may even be on the horizon following swift and severe actions by the government to corral the virus.

But elsewhere in the world, the mood is darker. There are about 17 times as many new infections outside China as in it, according to the World Health Organization.

The S&P 500 fell 106.18, or 3.4%, to 3,023.94. It's now 10.7% below the record high it set on Feb. 19. The Dow Jones Industrial Average slumped 969.58, or 3.6%, to 26,121.28, and the Nasdaq lost 279.49, or 3.1%, to 8,738.60.

Losses were widespread, and energy stocks in the S&P 500 dropped to their lowest level since March 2009, when they were emerging from the financial crisis.

The S&P/ASX 200 index looks set to give back yesterday’s gains and more on Friday. According to the latest SPI futures, the ASX 200 is poised to fall 134 points or 2.1% at the open.

*DOW three month chart*





*New with Australian index's in middle:*





*New at bottom of table:*















https://www.usnews.com/news/busines...ts-slide-again-on-enduring-concern-over-virus

*Virus Fears Grip Markets Again; Stocks and Bond Yields Slide*
Stocks and bond yields fell sharply Thursday as fears about fallout from the virus outbreak sent more shudders through markets.
By Associated Press, Wire Service Content March 5, 2020, at 4:44 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — Fear dominated financial markets again on Thursday, and stocks fell sharply on worries about the fast-spreading virus outbreak. It's the latest shudder in Wall Street's most volatile week in more than eight years.

Major U.S. indexes lost roughly 3.5%, and Treasury yields touched more record lows in their latest yo-yo move. The slide nearly wiped out the surge stocks had ridden just a day earlier, which came in part on hopes that moves by authorities around the world could cushion the economic fallout. These vicious swings are likely to continue, as long as the number of new infections continues to accelerate, many analysts and professional investors say. Thursday was the fourth straight day where the S&P 500 moved at least 2%, the longest such stretch since the summer of 2011.

The growing understanding that the spread of infections — and resulting damage to the economy — may not slow anytime soon is pulling sharply on markets. That pull has taken turns this week with the increasingly worldwide push that governments and central banks are trying to give markets through spending plans and interest-rate cuts.

The yield on the 10-year Treasury note went as low as 0.901% for the first time in history, according to Tradeweb. Tumbling yields have brought the average rate on a 30-year fixed mortgage to a record low of 3.29%.

“It’s been a roller-coaster market in recent days for equity investors, and today we appear to be on the downward leg for that ride,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. “What you need is time, and unfortunately that is still going to result in volatility.”

In China, where the number of new infections has been slowing drastically, stocks trading in Shanghai have rallied nearly 12% since hitting a bottom on Feb. 3. Factories there are gradually reopening, and a return to a sense of normal life may even be on the horizon following swift and severe actions by the government to corral the virus.

But elsewhere in the world, the mood is darker. There are about 17 times as many new infections outside China as in it, according to the World Health Organization.

In the U.S., the death toll climbed to 11 due to the virus. California declared a statewide emergency, and Southwest Airlines warned its investors that it's seen a significant decline in demand in recent days.

The S&P 500 fell 106.18, or 3.4%, to 3,023.94. It's now 10.7% below the record high it set on Feb. 19. The Dow Jones Industrial Average slumped 969.58, or 3.6%, to 26,121.28, and the Nasdaq lost 279.49, or 3.1%, to 8,738.60.

Losses were widespread, and energy stocks in the S&P 500 dropped to their lowest level since March 2009, when they were emerging from the financial crisis.

“The Western world is now following some of China’s playbook, closing schools and declaring a state of emergency for example, but there is a sense that this is too little, too late," said Chris Beauchamp, chief market analyst at IG.

Travel-related companies continued to fall sharply on worries that frightened customers won't want to confine themselves in planes or boats with others. Royal Caribbean Cruises sank 16.3%, Carnival fell 14.1% and American Airlines Group lost 13.4%.

A growing list of companies is warning investors that the virus is hitting their sales and profits, and investors are left with a lot of uncertainty about just how much economic growth will be affected.

“We could probably drive a metaphorical truck between the upside and downside cases here,” said Jason Pride, chief investment officer for private wealth at Glenmede.

This week the S&P 500 has gone from a jump of 4.6% Monday, to a loss of 2.8%, and back to a rise of 4.2%. In normal times, a move of even 1% would be notable.

Asian stock markets started Thursday off higher, riding the wave of optimism and hope that sent the S&P 500 soaring on Wednesday. U.S. congressional leaders reached a deal on an $8.3 billion bill to battle the outbreak, which the Senate passed Thursday, and the Bank of Canada followed up on the Federal Reserve’s surprise cut to interest rates the day before with its own.

Some economists expect the European Central Bank to make some kind of move in hopes of supporting markets before its meeting on March 12.

Japan’s Nikkei 225 rose 1.1%, South Korea’s Kospi gained 1.3% and stocks in Shanghai jumped 2%.

But markets turned lower as trading moved to Europe. The French CAC 40 fell 1.9%, Germany’s DAX lost 1.5% and the FTSE 100 in London dropped 1.6%.

Several measures of fear in the market clenched tighter.

The yield on the 10-year Treasury sank to 0.91% from 0.99% late Wednesday. Gold climbed $25.00 to $1,668.00 per ounce as investors piled into investments seen as safe.

Benchmark U.S. crude lost 88 cents to settle at $45.90 per barrel. Brent crude, the international standard, fell $1.14 to $49.99 per barrel.

Silver rose 15 cents to $17.39 per ounce, and copper fell a penny to $2.57 per pound. Natural gas lost 6 cents to $1.77 per 1,000 cubic feet, heating oil fell 4 cents to $1.49 per gallon and wholesale gasoline lost 3 cents to $1.52 per gallon.

The dollar fell to 106.76 Japanese yen from 107.33 yen on Wednesday. The euro strengthened to $1.1190 from $1.1139.


----------



## bigdog

ALL RED DAY!

A dizzying, brutal week of trading dropped one last round of harrowing swings on investors Friday.

After skidding sharply through the day as fear pounded markets, steep drops for stocks and bond yields suddenly eased up in the last hour. By the end of trading, the S&P 500 had more than halved its loss for the day to 1.7% and even locked in a gain for the week.

It's the latest lurch in a wild ride that has sent stocks flipping between huge gains and losses — mostly losses the last two weeks. Investors are trying to guess how much economic damage the coronavirus will ultimately inflict, and they're shifting by the minute as the number of new infections piles up on on end and central banks and governments offer stimulus on the other.

All the uncertainty has left markets churning.

“It’s anyone’s guess at this point why it rallied into the close,” Adam Taback, chief investment officer for Wells Fargo Private Bank, said of the last hour of Friday's trading.

Earlier in the day, the S&P 500 had been down 4%. Even more alarming was another breathtaking drop in Treasury yields to record lows.

The S&P 500 fell 51.57, or 1.7%, to 2,972.37. It rose 0.6% for the week.

The Dow Jones Industrial Average lost 256.50, or 1%, to 25,864.78. The Nasdaq fell 162.98, or 1.9%, to 8,575.62.

The yield on the 10-year Treasury dropped to 0.77% from 0.92% late Thursday. It rallied from as low as 0.66% earlier in the day, according to Tradweb.




















https://www.usnews.com/news/busines...en-sharply-lower-yields-drop-in-virus-worries

*Bond Yields Sink, Stocks Fall as Investors Demand Safety*
Stocks and bond yields fell further Friday, but they had been on pace for even sharper losses before easing up in the last hour of trading.
By Associated Press, Wire Service Content March 6, 2020, at 5:18 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — A dizzying, brutal week of trading dropped one last round of harrowing swings on investors Friday.

After skidding sharply through the day as fear pounded markets, steep drops for stocks and bond yields suddenly eased up in the last hour. By the end of trading, the S&P 500 had more than halved its loss for the day to 1.7% and even locked in a gain for the week.

It's the latest lurch in a wild ride that has sent stocks flipping between huge gains and losses — mostly losses the last two weeks. Investors are trying to guess how much economic damage the coronavirus will ultimately inflict, and they're shifting by the minute as the number of new infections piles up on on end and central banks and governments offer stimulus on the other.

All the uncertainty has left markets churning.

“It’s anyone’s guess at this point why it rallied into the close,” Adam Taback, chief investment officer for Wells Fargo Private Bank, said of the last hour of Friday's trading.

Earlier in the day, the S&P 500 had been down 4%. Even more alarming was another breathtaking drop in Treasury yields to record lows.

The 10-year Treasury yield falls when investors are worried about a weaker economy and inflation, and it sank below 0.70% at one point. Earlier this week, it had never in history been below 1%. It was at 1.90% at the start of the year, before the virus fears took hold.

Even a better-than-expected report on U.S. jobs wasn't enough to pull markets from the undertow. It's usually the most anticipated piece of economic data each month, but investors looked past February's solid hiring numbers because they came from before the new coronavirus was spreading quickly across the country.

“The bond market says the monster under the bed is much bigger and scarier than anyone expects right now,” said Ryan Detrick, senior market strategist at LPL Financial.

At the heart of the drops is the fear of the unknown. The virus usually causes only mild to moderate symptoms. But because it's new, experts aren't sure how far it will spread and how much damage it will ultimately do, both to health and to the economy.

The number of infections has topped 100,000 worldwide and businesses are reporting hits to their earnings. Danger for companies is coming from two sides. On the supply side, for example, Apple has said slowdowns in manufacturing iPhones in China will hurt its sales totals. On the demand side, an airline industry group says the outbreak could lose as much as $113 billion in revenue as people cancel trips.

Friday's drop for the S&P 500 was the latest swing in a remarkably turbulent week. It started off with a 4.6% jump on Monday, then fell 2.8%, rose 4.2% and fell 3.4%.

“At this point no one can really explain why the markets behave the way they do, and what may be next," said Ipek Ozkardeskaya, a senior analyst at Swissquote Bank. "The only thing we can say is this high volatility is bad."

It was only two weeks ago that the S&P 500 set a record high, on Feb. 19. It’s lost 12.2% since then.

The bond market sounded the alarm on the effects of the virus long before the stock market, and yields fell further Friday.

The Fed surprised the market earlier this week by cutting interest rates half a percentage point. Investors expect other central banks around the world to follow suit in hopes of supporting markets.

At the same time, doubts are high about how much effect lower rates can have. Cheaper loans may encourage people and business to make big purchases, but they can't get workers back into factories if they're out on quarantine.

A boost for stocks came earlier this week after Congress agreed on an $8.3 billion bill to combat the coronavirus, which President Donald Trump signed Friday. But investors say a slowdown in the economy seems inevitable, and many analysts expect the market's sharp swings to continue as long as the number of new cases accelerates.

“As the market tries to find its bottom, it's going to go up and down, up and down, until it has a reason to steadily change in one direction or the other,” said Taback of Wells Fargo Private Bank.

MARKET ROUNDUP:

The S&P 500 fell 51.57, or 1.7%, to 2,972.37. It rose 0.6% for the week.

The Dow Jones Industrial Average lost 256.50, or 1%, to 25,864.78. The Nasdaq fell 162.98, or 1.9%, to 8,575.62.

The yield on the 10-year Treasury dropped to 0.77% from 0.92% late Thursday. It rallied from as low as 0.66% earlier in the day, according to Tradweb.

Benchmark U.S. crude tumbled $4.62, or 10.1%, to settle at $41.28 per barrel. It was the worst day for oil in more than five years. Brent crude, the international standard, dropped $4.72, or 9.4%, to $45.27.

In Europe, the French CAC 40 dropped 4.1%, and the German DAX lost 3.4%. The FTSE 100 in London fell 3.6%.

Japan's Nikkei 225 fell 2.7%, South Korea's Kospi lost 2.2% and stocks in Shanghai dropped 1.2%.

Gold rose $4.40 to settle at $1,672.40 per ounce. Silver fell 13 cents to $17.26 an ounce, and copper slipped 1 cent to $2.56 a pound.

Wholesale gasoline fell 13 cents to $1.39 a gallon, heating oil fell 10 cents to $1.39 a gallon and natural gas lost 6 cents to $1.71 per 1,000 cubic feet.

020


----------



## bigdog

ASX is trading today.

It looks set to be another bleak day of trade for the S&P/ASX 200 index. According to the latest SPI futures, the benchmark index is expected to open the week 93 points or 1.4% lower. 

This follows a poor end to the week on Wall Street. Although they finished well off their lows, the Dow Jones fell 1%, the S&P 500 index dropped 1.7%, and the Nasdaq index sank 1.9% lower.


----------



## moXJO

Cheers big dog. I always appreciated  your efforts on this thread.
Every time I need a quick market wrap, you have always had the goods. I swear I checked here last crash.


----------



## bigdog

The Dow Jones Industrial Average tumbled 7.8% Monday, its steepest drop since the financial crisis of 2008, as mounting alarm over the coronavirus combined with a crash in oil prices to send a shudder through world markets.

The staggering losses immediately raised fears that a recession might be on the way in the U.S. and that the record-breaking 11-year bull market on Wall Street may be coming to an abrupt end in a way no one even imagined just a few months ago.

The drop was so sharp that it triggered the first automatic halt in trading in more than two decades. European stock indexes likewise registered their heaviest losses since the darkest days of the 2008 meltdown and are now in a bear market.

Together, the sell-offs reflected growing fear over the potential global economic damage from the coronavirus, which has infected more than 110,000 people worldwide and killed about 4,000 while triggering factory shutdowns, travel bans, closings of schools and stores, and cancellations of conventions and celebrations big and small.

On Wall Street, the S&P 500 plunged 7.4% in the first few minutes after the opening bell before trading was halted by the market’s circuit breakers, first adopted after the crash of October 1987 and modified over the years to give investors a chance to catch their breath. The market-wide circuit breakers have been triggered only once before, in 1997.

After the 15-minute pause, the S&P trimmed its losses, but still closed 7.6% lower on the day. The Dow fell 2,013 points, or 7.8%, to 23,851.02. The Nasdaq gave up 7.3%.

The S&P 500 has fallen 18.9% from the record high it set on Feb. 19 and has lost $5.3 trillion in value during that time. U.S. stocks are now uncomfortably close to entering a bear market, defined as a drop of 20% from its peak.

Unfortunately, the S&P/ASX 200 index looks set to continue its slide on Tuesday. According to the latest SPI futures, the benchmark index is expected fall 244 points or 4.3% at the open this morning.











https://apnews.com/d69d338f530492125c92424b8ae3290d

*Dow drops 7.8% as free-fall in oil, virus fears slam markets*
By STAN CHOE and ALEX VEIGA

The Dow Jones Industrial Average tumbled 7.8% Monday, its steepest drop since the financial crisis of 2008, as mounting alarm over the coronavirus combined with a crash in oil prices to send a shudder through world markets.

The staggering losses immediately raised fears that a recession might be on the way in the U.S. and that the record-breaking 11-year bull market on Wall Street may be coming to an abrupt end in a way no one even imagined just a few months ago.

The drop was so sharp that it triggered the first automatic halt in trading in more than two decades. European stock indexes likewise registered their heaviest losses since the darkest days of the 2008 meltdown and are now in a bear market.

Together, the sell-offs reflected growing fear over the potential global economic damage from the coronavirus, which has infected more than 110,000 people worldwide and killed about 4,000 while triggering factory shutdowns, travel bans, closings of schools and stores, and cancellations of conventions and celebrations big and small.

“The market has had a crisis of confidence,” said Willie Delwiche, investment strategist at Baird.

The market slide came as Italy, the hardest-hit place in Europe, began enforcing a lockdown against 16 million people in the north, or one-quarter of the country’s population, and then announced that travel restrictions would be imposed nationwide. Premier Giuseppe Conte said all people will have to demonstrate a valid reason to travel beyond where they live.

The turmoil — marked by masked police officers and soldiers checking travelers’ documents amid restrictions that affected such daily activities as enjoying a espresso at a cafe or running to the grocery store — is expected to push Italy into recession and weigh on the European economy.

Elsewhere around the world, Ireland went so far as to cancel St. Patrick’s Day parades, and Israel ordered all visitors quarantined just weeks before Passover and Easter, one of the busiest travel periods of the year.

In the U.S., a cruise ship with a cluster of coronavirus cases that forced it to idle off the California coast for days arrived at the port of Oakland as officials prepared to start bringing passengers to military bases for quarantine or get them back to their home countries. The Grand Princess had more than 3,500 people aboard — 21 of them infected with the virus.

The escalating health crisis combined with another, intertwined development — plummeting oil prices — to drag down the market: The price of oil sank nearly 25%  after Russia refused to roll back production in response to virus-depressed demand and Saudi Arabia signaled it will ramp up its own output.

While low oil prices can translate into cheaper gasoline, they wreak havoc on energy companies and countries that count on petroleum revenue, including the No. 1 producer, the United States.

“The fear today is: Are the bears correct in talking about a recession around the corner from this?” said Quincy Krosby, chief market strategist at Prudential Financial. “Is this just about now? Is this just about the oil? Is this just about the virus? Or are we looking at a recession around the corner because all of this?”

President Donald Trump was scheduled to meet with Treasury Secretary Steven Mnuchin, economic adviser Larry Kudlow and other aides when he returned to the White House about a range of economic actions he could take. He also invited Wall Street executives to the White House later in the week to discuss the economic fallout of the epidemic.

On Wall Street, the S&P 500 plunged 7.4% in the first few minutes after the opening bell before trading was halted by the market’s circuit breakers, first adopted after the crash of October 1987 and modified over the years to give investors a chance to catch their breath. The market-wide circuit breakers have been triggered only once before, in 1997.

After the 15-minute pause, the S&P trimmed its losses, but still closed 7.6% lower on the day. The Dow fell 2,013 points, or 7.8%, to 23,851.02. The Nasdaq gave up 7.3%.

The S&P 500 has fallen 18.9% from the record high it set on Feb. 19 and has lost $5.3 trillion in value during that time. U.S. stocks are now uncomfortably close to entering a bear market, defined as a drop of 20% from its peak.

Italy’s stock index plunged 11.2%. Britain, France and Germany were down between 7.7% and 8.4%

The interest rate, or yield, on U.S. Treasury bonds sank to all-time lows as investors looking for a safe place kept on sinking money into them, even as the return on their investment sank closer and closer to zero. The yield on the 10-year Treasury note plunged to 0.59%. Up until last week, it had never been below 1%.

The carnage in the energy sector was particularly bad. With benchmark U.S. crude dropping to under $32 a barrel, Marathon Oil, Apache Corp. and Diamondback Energy each sank more than 40%. Exxon Mobil had its worst day since 2008, while Chevron had its second-biggest drop ever.

“We knew it was going to be a hot day,” said John Spensieri, head of U.S. equity trading at Stifel. He said that the mood was “organized chaos” in the morning but that the trading halt achieved what it was supposed to by stopping the slide.

Despite the scary-looking red numbers flashing on CNBC and other financial news channels, some financial consultants advised ordinary investors to stick to their long-term plan and not panic.

Scott Heydt, a financial consultant at Heydt Air, said he expects the market will go back to normal, even though it could take a year or so. “It’s definitely not a comfortable time,” he said. “But people need to stop looking at their portfolios on their smartphones every two seconds if they don’t have a stomach for it.”

For most people, the coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia. The vast majority of people recover from the virus, as has already happened with about three-quarters of those infected in China.

In the U.S., the number of people infected climbed to around 600, with at least 26 deaths — at least 19 of them associated with a single Seattle-area nursing home.

While the crisis is easing in China, where the virus was first detected, fast-growing clusters have turned up in South Korea, Iran and Italy, and the caseload is growing in the United States.

After initially taking an optimistic view on the virus, hoping that it would remain mostly in China and cause just a short-term disruption, investors are realizing they probably underestimated the crisis badly.

Traders are increasing betting that the Federal Reserve will cut interest rates back to zero to do what it can to help the virus-weakened economy, perhaps as soon as next week. But doubts are rising about how effective lower rates can be this time. They can encourage people and companies to borrow, but they can’t restart factories, restaurants or theme parks shut down because people are quarantined.

The Fed has already cut its benchmark short-term rate to a range of 1% to 1.25%, leaving little room to cut more.

“Central banks are a bit player in the current crisis,” Ethan Harris, global economist at Bank of America, wrote in a research report.

The clamor is growing louder for help from authorities besides central banks.

Full Coverage: Virus Outbreak
“Today’s market action may bang some heads together and actually start thinking about the constructive measures the government can take,” said Jacob Kirkegaard, senior fellow at the Peterson Institution for International Economics.

Among other things, Kirkegaard said, the government should make sure all Americans get paid sick leave and health care coverage for virus-related ills.


----------



## bigdog

Stocks on Tuesday recouped most of their historic losses from the prior day as hopes rose, faded and then bloomed again on Wall Street that the U.S. government will try to cushion the economic pain from the coronavirus.


The day's moves were a microcosm of the severe swings that have dominated recent weeks, and market watchers say they are likely to continue until the number of infections stops accelerating. In the meantime, investors want to see a big, coordinated response from governments and central banks to shore up the virus-weakened economy.

The S&P 500 surged as much as 3.7% in the morning, only to see the gains evaporate by midday. The index then bounced up and down before turning decisively higher after President Donald Trump pitched his ideas for a break on payroll taxes and other economic relief to Senate Republicans.

By the end of trading, the S&P 500 was up 4.9%. It erased three-fifths of Monday’s loss, which was the sharpest since 2008, when global authorities banded together to rescue the economy from the financial crisis.

The volatility reflected the mood of a market just as preoccupied with the virus as the rest of the world. Since U.S. stocks set their record high just a few weeks ago, traders have crossed over from dismissing the economic pain created by COVID-19 — thinking it’s similar to the flu and could stay mostly contained in China — to being in thrall to it — worrying that it may cause a worldwide recession.

The S&P 500 rose 135.67 points, or 4.9%, to 2,882.23. The Dow Jones Industrial Average rose 1,167.14 points, or 4.9%, to 25,018.16, and the Nasdaq composite jumped 393.58, or 5%, to 8,344.25.

The recovery is pulling the stock market a bit further from the edge of a bear market, signified by a drop of 20% from a record. The S&P 500 is down 14.9% from its high. If it can rally back to that point, it would extend the longest-ever bull market, which began its climb after the market hit bottom on March 9, 2009.

The S&P/ASX 200 index is expected to push higher on Wednesday. According to the latest SPI futures, the benchmark index is poised to open the day 0.25% or 15 points higher this morning. 










https://www.usnews.com/news/busines...on-wall-street-following-worst-day-since-2008

*Stocks Rebound From Big Losses on Hope for US Economic Aid*
Stocks have recouped most of their historic losses on Wall Street.
By Associated Press, Wire Service Content March 10, 2020, at 5:42 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Stocks on Tuesday recouped most of their historic losses from the prior day as hopes rose, faded and then bloomed again on Wall Street that the U.S. government will try to cushion the economic pain from the coronavirus.

The day's moves were a microcosm of the severe swings that have dominated recent weeks, and market watchers say they are likely to continue until the number of infections stops accelerating. In the meantime, investors want to see a big, coordinated response from governments and central banks to shore up the virus-weakened economy.

The S&P 500 surged as much as 3.7% in the morning, only to see the gains evaporate by midday. The index then bounced up and down before turning decisively higher after President Donald Trump pitched his ideas for a break on payroll taxes and other economic relief to Senate Republicans.

By the end of trading, the S&P 500 was up 4.9%. It erased three-fifths of Monday’s loss, which was the sharpest since 2008, when global authorities banded together to rescue the economy from the financial crisis.

The volatility reflected the mood of a market just as preoccupied with the virus as the rest of the world. Since U.S. stocks set their record high just a few weeks ago, traders have crossed over from dismissing the economic pain created by COVID-19 — thinking it’s similar to the flu and could stay mostly contained in China — to being in thrall to it — worrying that it may cause a worldwide recession.

While they won't cure illnesses or get quarantined workers back into factories, spending and stimulus programs would put cash into the hands of households and businesses while health experts try to corral the virus. That could stave off or at least moderate a possible recession.

Investors saw glimmers of a coordinated response, which led to Tuesday’s optimism.

At a White House press briefing Monday night, Trump said his administration would be asking Congress to cut payroll taxes and pass other quick measures aimed at easing the impact of the coronavirus on workers.

In Japan, a task force set up by the prime minister approved a 430 billion yen ($4.1 billion) package Tuesday with support for small to medium-sized businesses.

But as markets waited on Tuesday for details about Trump’s plan, prices oscillated sharply.

After a meeting with major health insurers, Trump said the government is working with the cruise line industry, one of the hardest hit by the virus. That helped lift the market, which had earlier flipped to losses amid doubts that the government would announce anything soon.

The S&P 500 shuffled along with modest gains until rocketing higher in the last two hours of trading after Trump made his pitch for economic aid on Capitol Hill. Treasury Secretary Steven Mnuchin also met with House Speaker Nancy Pelosi, whose support would be needed for any deal in a deeply divided Congress. Mnuchin called the meeting productive.

“I would expect the authorities to pull out all the stops to reduce uncertainty," said Alec Young, managing director of global markets research at FTSE Russell. “This may be their one opportunity to do that.”

Perhaps the most notable move in markets Tuesday was that Treasury yields pushed higher. The bond market rang warning bells about the virus long before the stock market, and a rise in yields is a sign that fear has receded a bit.

The 10-year Treasury yield rose to 0.79% from 0.49% late Monday. A week ago, it had never been below 1%.

The S&P 500 rose 135.67 points, or 4.9%, to 2,882.23. The Dow Jones Industrial Average rose 1,167.14 points, or 4.9%, to 25,018.16, and the Nasdaq composite jumped 393.58, or 5%, to 8,344.25.

The recovery is pulling the stock market a bit further from the edge of a bear market, signified by a drop of 20% from a record. The S&P 500 is down 14.9% from its high. If it can rally back to that point, it would extend the longest-ever bull market, which began its climb after the market hit bottom on March 9, 2009.

Brent crude, the international standard, rose $2.86, or 8.3%, to settle at $37.22 a barrel, while benchmark U.S. crude rose $3.23, or 10.4%, to $34.36 a barrel. Oil prices plunged 25% on Monday amid a price war between producers, who are pulling more oil out of the ground even though demand is falling due to the virus.

For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia.

The vast majority of people recover from the new virus. According to the World Health Organization, people with mild illness recover in about two weeks, while those with more severe illness may take three to six weeks to recover. In mainland China, where the virus first exploded, more than 80,000 people have been diagnosed and more than 58,000 have so far recovered.

But because the virus is new, experts can't say for sure how far it will ultimately spread. That has investors worried about the worst-case scenario for corporate profits and the economy, where factories and supply chains are shut around the world due to quarantines and people stay huddled at home instead of working or spending.

Investors expect central banks around the world, which have done some of the heaviest lifting to prop up markets the last decade, to do more to cushion the blow.

Traders expect the Fed to cut rates again at its meeting next week. They're also expecting some kind of action from the European Central Bank, which meets on Thursday.

But central banks have limited firepower, and some have already cut rates blow zero. That adds pressure on governments to do what they can as well.

For strategists at BlackRock Investment Institute, that could include generous sick-pay programs or even direct payments to households. For businesses, governments could suspend collecting tax revenue to give them some temporary relief and hold on to cash as the world waits for the outbreak to be contained.

“That would prevent these temporary disruptions from turning into a full-blown global recession,” strategists at BlackRock Investment Institute wrote in a report.

Until then, many investors have had a “sell-first, ask questions later” reaction to the uncertainty, said Greg McBride, chief financial analyst at Bankrate.com.

Still, he urges investors to avoid changing their long-term investment strategies, which can play out over years or decades, because of short-term volatility.

"Markets fall quickly, but they can rebound rapidly," McBride said. “Investing is a marathon, not a sprint.”


----------



## bigdog

Stocks tumbled again Wednesday as fears about the economic damage from the coronavirus intensified and investors questioned whether any economic response from Washington would be enough — if it happens at all.

The Dow Jones Industrial Average dropped 1,464 points, dragging it 20% below the record set last month and putting it in a bear market. The broader S&P 500 index, which professional investors watch more closely, is a single percentage point away from falling into its own bear market, which would end one of the longest bull markets in Wall Street history.

The decline has been one of the swiftest sell-offs of this magnitude. The fastest the S&P 500 has ever fallen from a record into a bear market was over 55 days in 1987.

Vicious swings like Wednesday’s session are becoming routine as investors rush to sell amid uncertainty about how badly the outbreak will hit the economy. The day’s loss wiped out a 1,167-point gain for the Dow from Tuesday and stands as the index’s second-largest point drop, trailing only Monday’s plunge of 2,013.

With Wall Street already on edge about the economic damage coming from the virus, stocks dove even lower Wednesday after global health officials declared the outbreak a pandemic.

Investors are calling for coordinated action from governments and central banks around the world to stem the threat to the economy from the virus. Doubts are rising about what can come from the U.S. government, though, even after President Donald Trump promised some aid.

The Dow Jones Industrial Average fell 1,464.94 points, or 5.9%, to 23,553.22, the S&P 500 fell 140.85, or 4.9%, to 2,741.38 and the Nasdaq lost 392.20, or 4.7%, to 7,952.05.

Even a climb in Treasury yields, which has been one of the loudest warning bells on Wall Street about the economic risks of the crisis, wasn't enough to turn stocks higher. The yield on the 10-year Treasury rose to 0.87% from 0.75% late Tuesday. That's a sign of diminished demand for safe investments.

Goldman Sachs, though, also says it expects the drawdown to be short, with earnings rebounding later in the year as the pain from the coronavirus wanes. It says the S&P 500 could climb back to 3,200 by the end of the year.

The S&P/ASX 200 index is expected to sink lower again on Thursday. According to the latest SPI futures, the benchmark index is due to open the day 3.7% or 210 points lower this morning.











https://www.usnews.com/news/busines...arply-lower-on-wall-street-dow-off-580-points

*Dow Tumbles Into Bear Market as Coronavirus Fears Intensify*
Stocks fell sharply on Wall Street, shaving 5.9% off the Dow Jones Industrial Average and bringing the index into a bear market.
By Associated Press, Wire Service Content March 11, 2020, at 4:59 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Stocks tumbled again Wednesday as fears about the economic damage from the coronavirus intensified and investors questioned whether any economic response from Washington would be enough — if it happens at all.

The Dow Jones Industrial Average dropped 1,464 points, dragging it 20% below the record set last month and putting it in a bear market. The broader S&P 500 index, which professional investors watch more closely, is a single percentage point away from falling into its own bear market, which would end one of the longest bull markets in Wall Street history.

The decline has been one of the swiftest sell-offs of this magnitude. The fastest the S&P 500 has ever fallen from a record into a bear market was over 55 days in 1987.

Vicious swings like Wednesday’s session are becoming routine as investors rush to sell amid uncertainty about how badly the outbreak will hit the economy. The day’s loss wiped out a 1,167-point gain for the Dow from Tuesday and stands as the index’s second-largest point drop, trailing only Monday’s plunge of 2,013.

With Wall Street already on edge about the economic damage coming from the virus, stocks dove even lower Wednesday after global health officials declared the outbreak a pandemic.

Investors are calling for coordinated action from governments and central banks around the world to stem the threat to the economy from the virus. Doubts are rising about what can come from the U.S. government, though, even after President Donald Trump promised some aid.

Investors know that lower interest rates or government spending programs alone will not solve the crisis. Only the containment of the virus can do that. But such measures could help support the economy in the meantime, and investors fear things would be much worse without them.

The Bank of England became the latest big central bank on Wednesday to make an emergency interest-rate cut in hopes of blunting the economic pain caused by the virus, which economists call the global economy’s biggest threat.

The stakes are rising as the World Health Organization cited “alarming levels of inaction” by governments in corralling the virus when it made its pandemic declaration.

“The government probably should have been thinking about stimulus last month,” said Kristina Hooper, Invesco’s chief global market strategist. “Every day that passes makes the economic impact of coronavirus that much worse.”

Many investors are worried that a divided Congress will have trouble agreeing to any plan, she said.

Besides worries about the virus and the government's ability to get something done for the economy, the market was also weighed down by a continued decline in oil prices, said Patrick Schaffer, global investment specialist at J.P.Morgan Private Bank.

“I want all retail investors to expect this environment will continue: sharp down days, sharp up days,” he said. “This feeling of whiplash that people feel probably continues for some period of time.”

The speed of the market’s declines and the degree of its swings the last few weeks have been breathtaking. The Dow Jones Industrial Average has had seven days in the last few weeks where it swung by 1,000 points. That has happened just three other times in history.

For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia.

The vast majority of people recover from the new virus, but the fear is that COVID-19 could drag the global economy into a recession by hitting it from both sides — supply and demand.

On the supply side, the worst-case scenario has companies with fewer things to sell as factories shut down and workplaces dim the lights because workers are out on quarantine. On the demand side, companies see fewer customers because people are huddling at home instead of taking trips or going to restaurants.

United Airlines has lost more than a third of its value since Feb. 21 because many people don't want to risk flying. Cruise lines have also been hard hit. Even Apple, which entered 2020 after making sharp gains, has shed 6% since the beginning of the year as production of iPhones in China has been slower to ramp up than expected.

The coronavirus outbreak has moved so fast that its impact has not yet shown up in any nationwide economic data. Many economists still think the U.S. can avoid a recession, particularly if the disease is under control by the early summer.

But most also think the odds of recession have risen significantly in recent weeks. Measures of consumer sentiment have fallen sharply since the beginning of the year, a sign that consumers are likely to pull back on spending in the coming weeks.

Many analysts say financial markets will continue to swing sharply until the number of new infections stops accelerating. In the United States, the number of cases has topped 1,000. Worldwide, more than 119,000 people have been infected, and over 4,200 have died.

"There’s a real feeling that we don’t know where this ends," said Brad McMillan, chief investment officer for Commonwealth Financial Network.

Italy's government announced $28 billion in financial support for health care, the labor market and families and businesses that face a cash crunch due to the country's nationwide lock down on travel.

Trump hinted at plans for tax cuts and other economic relief late Monday, but he has yet to unveil any details. His proposal for a cut to payroll taxes has met resistance on Capitol Hill.

The government has to hit a narrow target to lift market optimism, all while overcoming partisan rancor to get there.

“The package must be large enough to restore confidence, but targeted enough to provide immediate relief to where it is needed most,” Mike Ryan, UBS Global Wealth Management's Americas chief investment officer, wrote in a report.

The Dow Jones Industrial Average fell 1,464.94 points, or 5.9%, to 23,553.22, the S&P 500 fell 140.85, or 4.9%, to 2,741.38 and the Nasdaq lost 392.20, or 4.7%, to 7,952.05.

Even a climb in Treasury yields, which has been one of the loudest warning bells on Wall Street about the economic risks of the crisis, wasn't enough to turn stocks higher. The yield on the 10-year Treasury rose to 0.87% from 0.75% late Tuesday. That's a sign of diminished demand for safe investments.

Asian markets also fell, while European markets lost earlier gains following the rate cut by the Bank of England and turned lower.

For all the fear in the market and selling by huge institutions, many regular investors have been holding relatively steady.

“People, by and large, are keeping their heads right now,” said JJ Kinahan, chief market strategist at TD Ameritrade.

Clients are mostly sticking to their long-term investment plans, he said, though some may want to adjust their portfolios if they feel uncomfortable with all the volatility. Still, the standard advice from most advisers is to focus more on long-term goals and pay less attention to short-term swings, which will likely dominate markets for some time.

“We’re looking at a month of volatility as the coronavirus plays out,” Kinahan said.

Stock prices generally move on two main factors: how much profit companies are earning and how much investors are willing to pay for each $1 of them. For the first part, Wall Street is slashing its expectations, which undercuts stock prices. For the second, all the coronavirus worries make investors less willing to pay high prices. Valuations were already above historical averages before the market’s declines began.

Strategists at Goldman Sachs on Wednesday sharply cut their expectations for earnings growth this year, saying it will lead to the end of the bull market for the S&P 500, which began more than a decade ago.

A plunge in crude prices has wiped out profits for energy companies, while record-low Treasury yields are squeezing the financial sector. Strategists say S&P 500 earnings per share could fall enough to drag the index down to 2,450 in the middle of the year. That would be a nearly 28% drop from its record.

Goldman Sachs, though, also says it expects the drawdown to be short, with earnings rebounding later in the year as the pain from the coronavirus wanes. It says the S&P 500 could climb back to 3,200 by the end of the year.

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## bigdog

The escalating coronavirus emergency sent the stock market Thursday into its worst slide since the Black Monday crash of 1987, extending a sell-off that has now wiped out most of Wall Street’s big gains since President Donald Trump took office.

The S&P 500 plummeted 9.5%, for a total drop of 26.7% from its all-time high, set just last month. That puts it way over the 20% threshold for a bear market, officially ending Wall Street's unprecedented bull-market run of nearly 11 years. The Dow Jones Industrial Average sank 10%, its heaviest loss since its nearly 23% drop on Oct. 19, 1987.

European markets fell 12% in one of their worst days ever, even after the European Central Bank pledged to buy more bonds and offer more help for the economy.

The rout came amid a cascade of cancellations and shutdowns across the globe — including Trump's suspension of most travel to the U.S. from Europe — and rising worries that the White House and other authorities around the world can’t or won’t counter the economic damage from the outbreak any time soon.

“We're starting to get a sense of how dire the impact on the economy is going to be. Each day the news doesn't get better, it gets worse. It's now hit Main Street to a more significant degree,” said Liz Ann Sonders, chief investment strategist at Charles Schwab.

Stocks fell so fast on Wall Street at the opening bell that they triggered an automatic, 15-minute trading halt for the second time this week. The so-called circuit breakers were first adopted after the 1987 crash, and until this week hadn't been tripped since 1997.

The Dow briefly turned upward and halved its losses at one point in the afternoon after the Federal Reserve announced it would step in to ease “highly unusual disruptions” in the Treasury market. But the burst of momentum quickly faded.

Trump often points proudly to the big run-up on Wall Street under his administration, warning a crowd at a rally last August that "whether you love me or hate, you gotta vote for me," or else your 401(k) will go “down the tubes.”

Just last month, the Dow was boasting a nearly 50% increase since Trump took the oath of office on Jan. 20, 2017. By Thursday's close, the Dow was clinging to a 6.9% gain, though it was still up nearly 16% since just before Trump's election in November 2016.

The Dow officially went into a bear market on Wednesday, when it finished the day down more than 20% from its all-time high. For the S&P 500, this is the fastest drop since World War II from a record high to a bear market.

The combined health crisis and retreat on Wall Street heightened fears of a recession.

“This is bad. The worst and fastest stock market correction in our career," Chris Rupkey, chief financial economist at MUFG Union, said in a research note overnight. "The economy is doomed to recession if the country stops working and takes the next 30 days off. The stock market knows it.”

The S&P/ASX 200 index is poised to sink lower again on Friday and end the week on a bitterly disappointing note. According to the latest SPI futures, the benchmark index is due to open the day 7.1% or 394 points lower this morning.










https://www.usnews.com/news/busines...-on-wall-street-after-stocks-plunge-7-at-open

*Worst Day on Wall Street Since 1987 as Virus Fears Spread*
The stock market had its biggest drop since the Black Monday crash of 1987 as fears of economic fallout from the coronavirus crisis deepened.
By Associated Press, Wire Service Content March 12, 2020, at 5:17 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — The escalating coronavirus emergency sent the stock market Thursday into its worst slide since the Black Monday crash of 1987, extending a sell-off that has now wiped out most of Wall Street’s big gains since President Donald Trump took office.

The S&P 500 plummeted 9.5%, for a total drop of 26.7% from its all-time high, set just last month. That puts it way over the 20% threshold for a bear market, officially ending Wall Street's unprecedented bull-market run of nearly 11 years. The Dow Jones Industrial Average sank 10%, its heaviest loss since its nearly 23% drop on Oct. 19, 1987.

European markets fell 12% in one of their worst days ever, even after the European Central Bank pledged to buy more bonds and offer more help for the economy.

The rout came amid a cascade of cancellations and shutdowns across the globe — including Trump's suspension of most travel to the U.S. from Europe — and rising worries that the White House and other authorities around the world can’t or won’t counter the economic damage from the outbreak any time soon.

“We're starting to get a sense of how dire the impact on the economy is going to be. Each day the news doesn't get better, it gets worse. It's now hit Main Street to a more significant degree,” said Liz Ann Sonders, chief investment strategist at Charles Schwab.

Stocks fell so fast on Wall Street at the opening bell that they triggered an automatic, 15-minute trading halt for the second time this week. The so-called circuit breakers were first adopted after the 1987 crash, and until this week hadn't been tripped since 1997.

The Dow briefly turned upward and halved its losses at one point in the afternoon after the Federal Reserve announced it would step in to ease “highly unusual disruptions” in the Treasury market. But the burst of momentum quickly faded.

Trump often points proudly to the big run-up on Wall Street under his administration, warning a crowd at a rally last August that "whether you love me or hate, you gotta vote for me," or else your 401(k) will go “down the tubes.”

Just last month, the Dow was boasting a nearly 50% increase since Trump took the oath of office on Jan. 20, 2017. By Thursday's close, the Dow was clinging to a 6.9% gain, though it was still up nearly 16% since just before Trump's election in November 2016.

The Dow officially went into a bear market on Wednesday, when it finished the day down more than 20% from its all-time high. For the S&P 500, this is the fastest drop since World War II from a record high to a bear market.

The combined health crisis and retreat on Wall Street heightened fears of a recession.

“This is bad. The worst and fastest stock market correction in our career," Chris Rupkey, chief financial economist at MUFG Union, said in a research note overnight. "The economy is doomed to recession if the country stops working and takes the next 30 days off. The stock market knows it.”

The coronavirus has infected around 128,000 people worldwide and killed over 4,700. The death toll in the U.S. climbed to 39, with over 1,300 infections. For most people, the virus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illnesses, including pneumonia. The vast majority of people recover from the virus in a matter of weeks.

The fallout mounted Thursday, as the NCAA canceled its men's and women's basketball tournaments, major league baseball postponed opening day, and Disneyland announced it is shutting down. Even Mount Everest closed. Closer to Wall Street, New York's Metropolitan Museum of Art, Carnegie Hall and the Metropolitan Opera shut their doors, and Broadway theaters planned to go dark.

In a somber prime-time address Wednesday night from the White House, Trump announced the new travel ban as well as measures to extend loans, payroll tax cuts and other financial relief to individuals and businesses hurt by the crisis.

But the travel restrictions represented another heavy blow to the already battered airline and travel industries, and the other measures did not impress Wall Street.

"What markets are waiting for are efforts to contain the virus in a very aggressive way, ways we've seen in other countries," said Nela Richardson, investment strategist at Edward Jones. “Short of that, nibbling around the edges, maybe doing something that can help a firm with a very short-term impact or help an employee, doesn't hurt, but it's not the bull's-eye, and it's not as targeted as the markets would like to see.”

Michael McCarthy of CMC Markets said: “The market judgment on that announcement is that it’s too little, too late.”

The damage was worldwide and eye-popping. Among the big moves:

— Travel stocks again were among the hardest hit. Norwegian Cruise Line and Royal Caribbean Cruises both lost roughly a third of their value. Another drop for United Airlines put its loss for the year at nearly 58%.

— Oil continued its brutal week, with benchmark U.S. crude at $31.50 per barrel.

— In Asia, stocks in Thailand and the Philippines fell so fast that trading was temporarily halted. Japan’s Nikkei 225 sank 4.4% to its lowest close in four years, and South Korea’s market lost 3.9%.

Also alarming were complaints in recent days by investors that trading in the Treasury market wasn’t working well. For reasons that weren't immediately clear, traders said they were seeing surprisingly large gaps in prices being offered by buyers and sellers. That threatened to cause the market to seize up.

In a surprise move, the Fed said it would pump in at least $1.5 trillion to help calm the market and facilitate trading.

After earlier thinking that the virus could remain mostly in China and that any dip in the economy would be followed by a quick rebound, investors are seeing the damage and disruptions mount, with Italy locking itself down, the NBA suspending games and authorities in the U.S. and beyond banning large gatherings and closing schools.

"Anyone who tells you they know how long this is going to last is wrong," said Adam Taback, chief investment officer for Wells Fargo Private Bank. “The uncertainty here is trying to figure out how you get this virus under control, and is that a matter of days, weeks or months.”

407


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## bigdog

Wall Street roared back from its worst day in 30 years Friday with a broad rally that sent the Dow Jones Industrial Average nearly 2,000 points higher — its biggest point gain ever — after President Donald Trump declared the coronavirus pandemic a national emergency.

Fueled by a late-day surge while Trump was speaking, the Dow saw its largest percentage gain since 2008. The rally recouped many of the losses from a day earlier, when the index saw its worst slide since the Black Monday crash of 1987 and European indexes had one of the worst drops on record. The major indexes each closed with gains of more than 9%.

The session capped a dizzying week on Wall Street, with wild swings driven largely by uncertainty over how much damage the coronavirus would cause to the global economy. By Thursday, the Dow had suffered two drops of more than 2,000 points and the longest-ever bull market had ended.

Then on Friday stocks rallied, shooting sharply upward in the last half-hour of trading as investors appeared to gain confidence that the Trump administration has a plan to combat the outbreak from both a health care and economic perspective.

Despite Friday's pickup, the market was on track for its worst week since October 2008, during a global financial crisis. In just a few weeks, U.S. stocks have lost all the gains made during 2019, one of the best years for the market in decades. All the major indexes are in what traders call a bear market.

Investors have been clamoring for strong action from the U.S. government to combat the outbreak's effect on businesses and workers. News that the White House and Congress were close to announcing an agreement on a package to provide sick pay, free testing and other resources helped boost the market.

“We’re finally getting that a little late to the party, but it’s better to be late to the party then not to come to the party,” said Ryan Detrick, senior market strategist at LPL Financial. He said the stimulus plan should help cushion the financial effects on people and businesses.

Stocks jumped in the early going Friday after Treasury Secretary Steven Mnuchin said on CNBC that the two sides were “very close to getting this done.” But during a late-afternoon White House press conference, Trump said the White House and Congress had yet to agree on a broader aid package. He said he doesn't believe House Democrats are "giving enough."

Speaker Nancy Pelosi said the House would approve its own coronavirus aid package and urged the Trump administration and congressional Republicans to “put families first” by backing the effort to provide Americans with relief.

The market's rout intensified this week amid a torrent of cancellations and shutdowns worldwide. Business closures have fueled fear that a severe pullback in consumer and business spending will tip the U.S. economy into a recession and wreck corporate profits.

On Thursday, the Federal Reserve unveiled a massive short-term lending program to try to help smooth trading in U.S. Treasurys. Many economists expect the Fed will move to cut interest rates by a full percentage point, to nearly zero, at its meeting of policymakers next Wednesday.

This week's historic sell-off helped to wipe out most of the big gains since President Trump took office in 2017. After hitting an all-time high on Feb. 19, the S&P 500 fell more than 20%, officially ending Wall Street's unprecedented bull-market run of nearly 11 years. The slide into a bear market has been the fastest since World War II.











*One month chart



*






https://www.usnews.com/news/busines...urge-on-wall-street-dow-jumps-800-points-or-4

*Stocks Roar Back From Big Losses After Emergency Declaration*
Stocks surged, recouping much of a historic plunge, after President Donald Trump announced new measures to fight the coronavirus.
By Associated Press, Wire Service Content March 13, 2020, at 5:22 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — Wall Street roared back from its worst day in 30 years Friday with a broad rally that sent the Dow Jones Industrial Average nearly 2,000 points higher — its biggest point gain ever — after President Donald Trump declared the coronavirus pandemic a national emergency.

Fueled by a late-day surge while Trump was speaking, the Dow saw its largest percentage gain since 2008. The rally recouped many of the losses from a day earlier, when the index saw its worst slide since the Black Monday crash of 1987 and European indexes had one of the worst drops on record. The major indexes each closed with gains of more than 9%.

The session capped a dizzying week on Wall Street, with wild swings driven largely by uncertainty over how much damage the coronavirus would cause to the global economy. By Thursday, the Dow had suffered two drops of more than 2,000 points and the longest-ever bull market had ended.

Then on Friday stocks rallied, shooting sharply upward in the last half-hour of trading as investors appeared to gain confidence that the Trump administration has a plan to combat the outbreak from both a health care and economic perspective.

Despite Friday's pickup, the market was on track for its worst week since October 2008, during a global financial crisis. In just a few weeks, U.S. stocks have lost all the gains made during 2019, one of the best years for the market in decades. All the major indexes are in what traders call a bear market.

Investors have been clamoring for strong action from the U.S. government to combat the outbreak's effect on businesses and workers. News that the White House and Congress were close to announcing an agreement on a package to provide sick pay, free testing and other resources helped boost the market.

“We’re finally getting that a little late to the party, but it’s better to be late to the party then not to come to the party,” said Ryan Detrick, senior market strategist at LPL Financial. He said the stimulus plan should help cushion the financial effects on people and businesses.

Stocks jumped in the early going Friday after Treasury Secretary Steven Mnuchin said on CNBC that the two sides were “very close to getting this done.” But during a late-afternoon White House press conference, Trump said the White House and Congress had yet to agree on a broader aid package. He said he doesn't believe House Democrats are "giving enough."

Speaker Nancy Pelosi said the House would approve its own coronavirus aid package and urged the Trump administration and congressional Republicans to “put families first” by backing the effort to provide Americans with relief.

The market's rout intensified this week amid a torrent of cancellations and shutdowns worldwide. Business closures have fueled fear that a severe pullback in consumer and business spending will tip the U.S. economy into a recession and wreck corporate profits.

Meanwhile, Warren Buffett said Friday that the annual shareholder meeting for Berkshire Hathaway will be streamed live in early May without any attendees, apart from maybe a select number of journalists. The meeting normally draws a crowd to rival professional sporting events.

The virus has infected over 137,000 people worldwide. More than 5,000 have died, but half of those who had the virus have already recovered. The pandemic's new epicenter is Europe. In the United States, cases have topped 1,600, while 41 people have died, according to the Centers For Disease Control and Prevention.

Friday's rally was broad, with technology stocks accounting for a big slice of the gains. Shares in cruise line operators, airlines and hotels — among the hardest-hit stocks as people canceled vacations and companies shut down business trips — headed higher.

Investors' anticipation of a government stimulus effort and a rate cut by the Fed next week likely put traders in a buying mood, though it's not unusual for stocks to rebound a day after a big decline, something Wall Street calls a “dead cat bounce."

“I don't know if I would call this a dead cat bounce, but I would certainly not call it a trend,” said Katie Nixon, chief investment officer at Northern Trust Wealth Management. “Maybe it reflects a little more optimism that we're getting a fiscal impulse that will help support the economy, and by extension, the market while we get through this transitory period of economic weakness.”

On Thursday, the Federal Reserve unveiled a massive short-term lending program to try to help smooth trading in U.S. Treasurys. Many economists expect the Fed will move to cut interest rates by a full percentage point, to nearly zero, at its meeting of policymakers next Wednesday.

This week's historic sell-off helped to wipe out most of the big gains since President Trump took office in 2017. After hitting an all-time high on Feb. 19, the S&P 500 fell more than 20%, officially ending Wall Street's unprecedented bull-market run of nearly 11 years. The slide into a bear market has been the fastest since World War II.

The selling has been so swift and sharp that there remains the potential for a significant bounce after the virus and its impact begin to recede, Detrick said. The economy was already on solid footing, and well-known companies like Disney and Apple were could help lead a recovery.

He also said there could be a recession on the horizon, but it would likely be mild. "It could be a shallow, quick, violent, scary recession, but one that bounces back quickly," Detrick said.

For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illnesses, including pneumonia. The vast majority of people recover from the virus in a few weeks.

For now, investors must wait for more information.

"What markets are trying to do is understand what the cycle of the virus is, and then the human reaction to it," said Thomas Martin, senior portfolio manager at Globalt Investments in Atlanta.

466


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## bigdog

The ASX 200 looks set to push higher again on Monday. According to the latest SPI futures, the benchmark index is expected to open the week 54 points or 1% higher.

This follows an incredibly strong finish to the week on Wall Street on Friday night. The Dow Jones jumped 9.4% higher, the S&P 500 index raced 9.3% higher, and the Nasdaq index stormed 9.4% higher.

563


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## bigdog

The U.S. stock market plunged 12% Monday for its worst day in more than three decades as voices from Wall Street to the White House said the coronavirus is likely dragging the economy into a recession.

The S&P 500's drop means it has plummeted nearly 30% since setting a record less than a month ago, and it’s at its lowest point since the end of 2018. Losses were steep Monday, accelerating in the last half hour of trading after President Donald Trump said the economy may be headed for a recession and asked Americans to avoid gatherings of more than 10 people.

The plunge came even though the Federal Reserve rushed to announce a new round of emergency actions before markets opened for trading Monday. The moves are aimed at propping up the economy and getting financial markets running smoothly again, but they may have also raised fears even further. Investors are also waiting for the White House and Congress to offer more aid to an economy that’s increasingly shutting down by the hour.

The Dow Jones Industrial Average plunged 2,997 points, or 12.9%, and likewise the S&P 500 had its worst loss since the Black Monday crash of 1987. It surpassed Thursday's loss of 10% for the Dow.

The market's losses the last few weeks are the steepest since the 2008 financial crisis dragged the economy into the Great Recession. Trump and other professional investors say the stock market could bounce back strongly as soon as the health experts get the virus under control. The problem is that no one knows when that could be, and broad swaths of the economy are grinding closer to a standstill in the meanwhile, from parked airplanes to the nearly empty restaurant around the corner.

Monday's selling began immediately on Wall Street, sharp enough to trigger a temporary trading halt for the third time in the last two weeks. Losses were even sharper in Europe before paring, and major indexes there fell between 4% and 6%. Oil lost 9.5% and has more than halved this year. The world’s brightest spot may have been Japan, where the central bank announced more stimulus for the economy, and stocks still lost 2.5%.

“It's impossible to say when and how we're going to reach bottom,” said Danielle DiMartino Booth, chief executive officer of Quill Intelligence.

The spreading coronavirus is causing businesses around the world to shut their doors. While that can slow the spread of the virus, it's also taking cash out of the pockets of businesses and workers. That has economists slashing their expectations for upcoming months, and Wells Fargo Securities said Monday it now projects the U.S. economy will fall into a recession in the April-through-June quarter. Joel Prakken, chief U.S. economist at IHS Markit, projects the economy will shrink at a 5.4% annualized rate during the quarter, which would be its worst performance since the depths of the Great Recession.

The best-case scenario for many investors is that the economic shock will be steep but short, with growth recovering later this year after businesses reopen. Pessimists, though, are preparing for a longer haul. The range of possible outcomes has Wall Street swinging wildly, and the S&P 500 had its third straight day where it moved more than 9% — two down and one up.

Strategists at Goldman Sachs say the S&P 500 could drop as low as 2,000 in the middle of the year, which would be a 41% drop from its record set just a month ago. Goldman expects the index to rally back to 3,200 at year end.

For most people, the coronavirus causes only mild or moderate symptoms, such as fever and cough, and those with mild illness recover in about two weeks. But severe illness including pneumonia can occur, especially in the elderly and people with existing health problems, and recovery could take six weeks in such cases.

The S&P 500 fell 324.89 points, or 12%, to 2,386.13. The Dow Jones Industrial Average lost 2,997.10 points, or 12.9%, to 20,188.52, and teh Nasdaq lost 970.28, or 12.3%, to 6,904.59.

*ASX 200 expected to fall again.      *
It looks set to be another disappointing day of trade for the ASX 200 index. According to the latest SPI futures, the benchmark index is expected to open the day 228 points or 4.5% lower this morning.










https://www.usnews.com/news/busines...sedive-on-wall-street-triggering-trading-halt

*Stocks Plunge as Wall Street, White House See Recession Risk*
The Dow industrials took a 2,997-point nosedive on Monday as fears deepen that the coronavirus outbreak will throw the global economy into recession.
By Associated Press, Wire Service Content March 16, 2020, at 4:43 p.m.

NEW YORK (AP) — The U.S. stock market plunged 12% Monday for its worst day in more than three decades as voices from Wall Street to the White House said the coronavirus is likely dragging the economy into a recession.

The S&P 500's drop means it has plummeted nearly 30% since setting a record less than a month ago, and it’s at its lowest point since the end of 2018. Losses were steep Monday, accelerating in the last half hour of trading after President Donald Trump said the economy may be headed for a recession and asked Americans to avoid gatherings of more than 10 people.

The plunge came even though the Federal Reserve rushed to announce a new round of emergency actions before markets opened for trading Monday. The moves are aimed at propping up the economy and getting financial markets running smoothly again, but they may have also raised fears even further. Investors are also waiting for the White House and Congress to offer more aid to an economy that’s increasingly shutting down by the hour.

The Dow Jones Industrial Average plunged 2,997 points, or 12.9%, and likewise the S&P 500 had its worst loss since the Black Monday crash of 1987. It surpassed Thursday's loss of 10% for the Dow.

The market's losses the last few weeks are the steepest since the 2008 financial crisis dragged the economy into the Great Recession. Trump and other professional investors say the stock market could bounce back strongly as soon as the health experts get the virus under control. The problem is that no one knows when that could be, and broad swaths of the economy are grinding closer to a standstill in the meanwhile, from parked airplanes to the nearly empty restaurant around the corner.

Monday's selling began immediately on Wall Street, sharp enough to trigger a temporary trading halt for the third time in the last two weeks. Losses were even sharper in Europe before paring, and major indexes there fell between 4% and 6%. Oil lost 9.5% and has more than halved this year. The world’s brightest spot may have been Japan, where the central bank announced more stimulus for the economy, and stocks still lost 2.5%.

“It's impossible to say when and how we're going to reach bottom,” said Danielle DiMartino Booth, chief executive officer of Quill Intelligence.

The spreading coronavirus is causing businesses around the world to shut their doors. While that can slow the spread of the virus, it's also taking cash out of the pockets of businesses and workers. That has economists slashing their expectations for upcoming months, and Wells Fargo Securities said Monday it now projects the U.S. economy will fall into a recession in the April-through-June quarter. Joel Prakken, chief U.S. economist at IHS Markit, projects the economy will shrink at a 5.4% annualized rate during the quarter, which would be its worst performance since the depths of the Great Recession.

The best-case scenario for many investors is that the economic shock will be steep but short, with growth recovering later this year after businesses reopen. Pessimists, though, are preparing for a longer haul. The range of possible outcomes has Wall Street swinging wildly, and the S&P 500 had its third straight day where it moved more than 9% — two down and one up.

Strategists at Goldman Sachs say the S&P 500 could drop as low as 2,000 in the middle of the year, which would be a 41% drop from its record set just a month ago. Goldman expects the index to rally back to 3,200 at year end.

For most people, the coronavirus causes only mild or moderate symptoms, such as fever and cough, and those with mild illness recover in about two weeks. But severe illness including pneumonia can occur, especially in the elderly and people with existing health problems, and recovery could take six weeks in such cases.

American Airlines and United Airlines both announced steep cutbacks to flights over the weekend as customers cancel trips and the U.S. government restricts travel. Other travel companies have also seen sharp drops in demand from customers. Restaurants, movie theaters and other businesses that depend on drawing crowds appear to be next to get squeezed. Several states and the country's largest city are ordering restaurants to close their doors to dine-in customers and do only takeout and delivery.

The Federal Reserve has been trying to do what it can to help the economy, and over the weekend it slashed short-term interest rates back to their record low of nearly zero.

It also said it also will buy at least $500 billion of Treasury securities and $200 billion of mortgage-backed securities to help calm the Treasury market, which is a bedrock for the world’s financial system and influences stock and bond prices around the world. Trading in the market began to get snarled last week, with traders saying they saw disconcertingly large gaps in prices offered by buyers and sellers.

“Despite whipping out the big guns," the Fed's action is "falling short of being the decisive backstop for markets,” said Vishnu Varathan of Mizuho Bank in a report. “Markets might have perceived the Fed's response as panic, feeding into its own fears.”

The yield on the 10-year Treasury slid to 0.74% from 0.95% late Friday, a sign that investors are flocking into investments seen as safe.

The Fed action came as major economies expanded travel curbs and closed more public facilities, raising the cost of efforts to contain the outbreak that has infected about 175,000 people worldwide. China, where the coronavirus emerged in December, accounts for about half of those, but a dozen other countries have more than 1,000 cases each.

Japan's central bank similarly expanded asset purchases to inject money into the economy and promised no-interest loans to help companies cope with the crisis. The measures came on top of announcements from other major central banks, including the European Central Bank and the Bank of England last week.

The S&P 500 fell 324.89 points, or 12%, to 2,386.13. The Dow Jones Industrial Average lost 2,997.10 points, or 12.9%, to 20,188.52, and the Nasdaq lost 970.28, or 12.3%, to 6,904.59.

After the Fed unloaded its bazooka on markets late Sunday, investors are looking for more help from the U.S. government, according to Brian Nick, chief investment strategist at Nuveen. That includes targeted aid to industries hit hard by the virus, as well as checks sent out to households.

“We have to be careful that small businesses don't get forgotten,” said Jason Pride, chief investment officer of private wealth at Glenmede.

Lower interest rates following the Fed's moves will help them borrow cash at more affordable prices, but they'll need more direct help.

Volatility appears to be the new normal following a dizzying week in which the Dow twice fell by more than 2,000 points and also record its biggest point gain ever — 1,985 points on Friday. Last week’s drops also confirmed the end of the longest-ever bull market on Wall Street, which emerged from the financial crisis and ran for nearly 11 years.

Many investors expect markets to remain volatile as long as the number of new infections keeps accelerating.

623


----------



## bigdog

Stocks rallied Tuesday as President Donald Trump promised he’s “going big” with plans to prop up the staggering economy through the coronavirus outbreak.

Besides the White House’s proposal, which could approach $1 trillion, the Federal Reserve also announced its latest emergency move to get markets running more smoothly. The S&P 500 climbed 6% to claw back a little less than half of its historic loss from the day before.

Even a 5% move used to be extremely rare, but it’s become the norm this month as investors see a recession as increasingly likely, if not already here. Many professional investors expect the market’s big swings in both directions to continue until health experts get the new coronavirus in check.

“Government tends to show up late to the party with a bazooka,” said Barry Bannister, head of institutional equity strategy at Stifel. “It’s a bit of an overreaction, but that’s to be understood as normal for policy makers.”

Trump wants the government to send checks to Americans in the next two weeks to help support them while chunks of the economy come closer to shutting down, Treasury Secretary Steven Mnuchin said Tuesday.

Trading was unsettled around the world. European stocks swung from gains to losses and back to gains. South Korean stocks fell to their fifth straight loss of 2.5%, but Japanese stocks shook off an early loss to edge higher.

The Dow Jones Industrial Average see-sawed through the day. It went from up 600 points to down 300 to up 1,190 and then pulled back again. It ended the day up 1,048.86 points, or 5.2%, at 21,237.38. A day earlier, it lost nearly 3,000 after Trump said a recession may be on the way.

The S&P 500, which dictates the movements of workers’ 401(k) accounts much more than the Dow, is still 25.3% below its record set last month. It’s close to where it was at the start of 2019, before one of the best years for stocks in decades. 

“The global recession is here and now,” S&P Global economists wrote in a report Tuesday.

The S&P/ASX 200 Index looks set to edge lower on Wednesday despite a strong night of trade on Wall Street. According to the latest SPI futures, the benchmark index is expected to open the day 19 points or 0.35% lower this morning.










https://apnews.com/5f119c29e77d3c3ade6e3a4da57bf6a8

*Stocks jump after Trump promises to ‘go big’ on virus aid*
By STAN CHOE

NEW YORK (AP) — Stocks rallied Tuesday as President Donald Trump promised he’s “going big” with plans to prop up the staggering economy through the coronavirus outbreak.

Besides the White House’s proposal, which could approach $1 trillion, the Federal Reserve also announced its latest emergency move to get markets running more smoothly. The S&P 500 climbed 6% to claw back a little less than half of its historic loss from the day before.

Even a 5% move used to be extremely rare, but it’s become the norm this month as investors see a recession as increasingly likely, if not already here. Many professional investors expect the market’s big swings in both directions to continue until health experts get the new coronavirus in check.

“Government tends to show up late to the party with a bazooka,” said Barry Bannister, head of institutional equity strategy at Stifel. “It’s a bit of an overreaction, but that’s to be understood as normal for policy makers.”

Trump wants the government to send checks to Americans in the next two weeks to help support them while chunks of the economy come closer to shutting down, Treasury Secretary Steven Mnuchin said Tuesday.

Mnuchin briefed Senate Republicans on the proposal, which could also include $50 billion for the airline industry and $250 billion for small businesses. The travel industry has been among the industries hardest hit by the outbreak. Planes sit grounded and hotels and casinos shut their doors.

Investors have been waiting for Washington to offer more aid for the economy. After flipping between gains and losses Tuesday morning, stocks turned decisively higher after the Federal Reserve revived a program  first used in the 2008 financial crisis to help companies get access to cash for very short-term needs.

“There are still a lot of questions in the mind of the market as to what will be enough,” said Robert Haworth, senior investment strategist at U.S. Bank Wealth Management. “It’s a start, but there’s still a lot to be determined.”

Ultimately, investors say they need to see the number of infections slow before markets can find a bottom. Worldwide cases now exceed 190,000. In the San Francisco area, nearly 7 million people were all but confined to their homes in the nation’s most sweeping lockdown.

For most people, the coronavirus causes only mild or moderate symptoms, such as fever and cough, and those with mild illness recover in about two weeks. But severe illness including pneumonia can occur, especially in the elderly and people with existing health problems, and recovery could take six weeks in such cases.

Uncertainty about how badly the economy will be hit by the coronavirus has put the market on a roller coaster with steep losses giving way to sharp gains, only to get wiped out again, sometimes all in the same day.

“I don’t think we’re going to be able to trust movements in the market for some time,” said Tom Martin, senior portfolio manager with Globalt Investments.

Trading was unsettled around the world. European stocks swung from gains to losses and back to gains. South Korean stocks fell to their fifth straight loss of 2.5%, but Japanese stocks shook off an early loss to edge higher.

The Dow Jones Industrial Average see-sawed through the day. It went from up 600 points to down 300 to up 1,190 and then pulled back again. It ended the day up 1,048.86 points, or 5.2%, at 21,237.38. A day earlier, it lost nearly 3,000 after Trump said a recession may be on the way.

The S&P 500, which dictates the movements of workers’ 401(k) accounts much more than the Dow, is still 25.3% below its record set last month. It’s close to where it was at the start of 2019, before one of the best years for stocks in decades.

Stocks have had a few rebounds since the market began selling off in mid-February on worries that COVID-19 will slam the economy and corporate profits. But all have ended up short-lived. The S&P 500 has had four days in the last few weeks where it surged more than 4%, something that did not happen at all last year. Each time, it has slumped more than 2.8% the following day.

The virus has spread so quickly that its effects haven’t shown up in much U.S. economic data yet. A report on Monday about manufacturing in New York State was the first piece of evidence that manufacturing is contracting due to the outbreak. On Tuesday, a report showed that retail sales weakened in February, when economists had been expecting a gain.

“The global recession is here and now,” S&P Global economists wrote in a report Tuesday.

They say initial data from China suggests its economy was hit harder than expected, though it has begun to stabilize. “Europe and the U.S. are following a similar path,” the economists wrote.


----------



## bigdog

Stocks tumbled more than 5% on Wall Street Wednesday, and the Dow erased virtually all its gains since President Donald Trump's 2017 inauguration. Even prices for investments seen as safe during downturns fell as the coronavirus outbreak chokes the economy and investors rush to raise cash.

Markets have been incredibly volatile for weeks as Wall Street and the White House acknowledge the rising likelihood that the pandemic will cause a recession. The typical day this month has seen the stock market swing up or down by 4.9%. Over the last decade, it was just 0.4%.

It was just a day before that the Dow surged more than 5% after Trump promised massive aid to the economy, but the number of infections keeps climbing, and the Dow erased all but 0.4% of its gain since Trump’s inauguration. The S&P 500, which dictates how 401(k) accounts perform much more than the Dow, is down 29.2% from its record set last month, though it's still up 12.1% since Election Day 2016.

The S&P 500's slide was so sharp that trading was halted for 15 minutes Wednesday. The index ended the day down 5.2% after earlier being down as much as 9.8%.

The Dow Jones Industrial Average lost 1,338.46 points, or 6.3%, to 19,898.92. It’s the eighth straight day the Dow has moved by more than 1,000 points.

All the uncertainty has pushed many people toward safety. Last month, investors pulled $17.5 billion out of stock mutual funds and exchange-traded funds, even though stocks set all-time highs in the middle of the month. Money-market funds, meanwhile, drew $25.5 billion, according to Morningstar.

The S&P/ASX 200 Index looks set to extend its losses on Thursday after another selloff on Wall Street. According to the latest SPI futures, the benchmark index is expected to open the day 164 points or 3.4% lower this morning










https://www.usnews.com/news/busines...rise-backslide-after-trump-promises-virus-aid

*Stocks Tumble, Investors Dash for Cash Amid Recession Fears*
Stocks tumbled more than 5% on Wall Street Wednesday and wiped out virtually all the gains for the Dow Jones Industrial Average since President Donald Trump's inauguration three years ago.

By Associated Press, Wire Service Content March 18, 2020, at 4:55 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Stocks tumbled more than 5% on Wall Street Wednesday, and the Dow erased virtually all its gains since President Donald Trump's 2017 inauguration. Even prices for investments seen as safe during downturns fell as the coronavirus outbreak chokes the economy and investors rush to raise cash.

Markets have been incredibly volatile for weeks as Wall Street and the White House acknowledge the rising likelihood that the pandemic will cause a recession. The typical day this month has seen the stock market swing up or down by 4.9%. Over the last decade, it was just 0.4%.

It was just a day before that the Dow surged more than 5% after Trump promised massive aid to the economy, but the number of infections keeps climbing, and the Dow erased all but 0.4% of its gain since Trump’s inauguration. The S&P 500, which dictates how 401(k) accounts perform much more than the Dow, is down 29.2% from its record set last month, though it's still up 12.1% since Election Day 2016.

The S&P 500's slide was so sharp that trading was halted for 15 minutes Wednesday. The index ended the day down 5.2% after earlier being down as much as 9.8%.

Delta Air Lines said Wednesday it’s parking at least half its planes to catch up with a plummeting drop in travel. Detroit’s big three automakers have agreed to close their North American factories to protect workers. Halliburton said it’s furloughing 3,500 workers in Houston for 60 days as the price of oil craters.

As big swaths of the economy retrench while much of society comes to a halt in an attempt to slow the spread of the virus, investors have clamored for Congress, Federal Reserve and other authorities around the world to support the economy until it can begin to reopen.

They got a big shot of that Tuesday, when the Trump administration briefed lawmakers on a program that could surpass $1 trillion and the Fed announced its latest moves to support markets.

But the worldwide number of known infections has topped 200,000, which creates more uncertainty about how badly the economy is getting hit, how much profit companies will make and how many companies may go into bankruptcy due to a cash crunch.

“It's, it's a very tough situation," Trump said at a news conference, during which losses for stocks accelerated. "You have to do things. You have to close parts of an economy that six weeks ago were the best they've ever been.... And then one day you have to close it down in order to defeat this enemy.”

“The volatility is going to be here to stay,” said Brian Nick, chief investment strategist at Nuveen. “It’s about the virus and not the economic response.”

Wednesday’s selling swept markets around the world. Benchmark U.S. oil fell 24% and dropped below $21 per barrel for the first time since 2002. European stock indexes lost more than 4% following broad losses in Asia. Even prices for longer-term U.S. Treasurys, which are seen as some of the safest possible investments, fell as investors sold what they could to raise cash. Gold also fell.

“They're just saying, ‘I may take some losses here, but if we have cash we can deploy it when we know more,’” said J.J. Kinahan, chief strategist with TD Ameritrade. “The problem for the market really is we just don't know anymore. And until we really know where things are at, you may see people who just want to have as much cash as possible.”

The bond market is also operating under strain, and it hasn’t been this difficult for buyers to find sellers at reasonable prices since the financial crisis of 2008, said Gene Tannuzzo, deputy global head of fixed income at Columbia Threadneedle Investments.

Investors are selling their highest-quality bonds to raise cash, thinking they will be the easiest to sell and will hold up the best. That’s paradoxically undercutting their prices further.

Also exacerbating moves, is so many traders are making these trades not from their office.

“I’m calling the Citigroup dealer, who’s on his home Wi-Fi with his kid in the living room,” Tannuzzo said. “That causes gaps” in pricing.

For most people, the coronavirus causes only mild or moderate symptoms, such as fever and cough, and those with mild illness recover in about two weeks. Severe illness including pneumonia can occur, especially in the elderly and people with existing health problems, and recovery could take six weeks in such cases.

“These are truly unprecedented events with no adequate historical example with which to precisely anchor our forecast,” Deutsche Bank economists wrote in a report Wednesday.

With all the uncertainty and early evidence that China’s economy was hit much harder by the virus than earlier thought, they now see “a severe global recession occurring in the first half of 2020.”

But they also are still forecasting a relatively quick rebound, with activity beginning to bounce back in the second half of this year in part because of all the aid promised from central banks and governments.

The Dow Jones Industrial Average lost 1,338.46 points, or 6.3%, to 19,898.92. It’s the eighth straight day the Dow has moved by more than 1,000 points.

All the uncertainty has pushed many people toward safety. Last month, investors pulled $17.5 billion out of stock mutual funds and exchange-traded funds, even though stocks set all-time highs in the middle of the month. Money-market funds, meanwhile, drew $25.5 billion, according to Morningstar.

That was all before the market's sell-off accelerated this month, which Goldman Sachs strategists are describing as “March Sadness.”

754


----------



## bigdog

Stocks capped a wobbly day on Wall Street with solid gains Thursday, reflecting cautious optimism among investors that emergency action by the U.S. government and central banks will cushion the global economy from a looming recession caused by the coronavirus pandemic.

The swings in the market were markedly less volatile than recent days. The Dow Jones Industrial Average gained almost 200 points, or 0.9%. The S&P 500 rose 0.5% after bouncing between a gain of 2.9% and a loss of 3.3% early. That would be a notable change in normal times, but the index has had eight straight days where it bounced up or down between 4.9% and 12%.

Markets have been so volatile because investors are weighing the increasing likelihood of a recession on one hand against huge, emergency efforts to prop up the economy on the other. Markets got more of each on Thursday.

The number of Americans filing for unemployment benefits jumped by 70,000 last week, more than economists expected, in one of the first signs of layoffs sweeping across the country. Wide swaths of the economy are grinding closer to a standstill, from the travel industry to restaurants, as authorities ask Americans to stay home to slow the spread of the virus. Another weak manufacturing report, this time in the mid-Atlantic region, added to the worries.

But the world's largest central banks announced their latest efforts to support financial markets and the economy. The European Central Bank launched an expanded program to buy up to 750 billion euros ($820 billion) in bonds, and the Bank of England cut its key interest rate to a record low of 0.1%.

The Dow rose 188 points, or 1%, to 20,087. It had been down as much as 721 points earlier and as high as 543. The Nasdaq, which is dominated by tech giants such as Apple, gained 2.3%.

The S&P 500, which drives movements for most 401(k) accounts more than other indexes, is down roughly 29% since its record exactly a month ago and close to its lowest point since late 2018.

Major indexes started the day lower, then rose before and during a late morning news conference led by President Donald Trump to give updates on the outbreak. The gains were mostly gone in early afternoon trading as the indexes turned mixed. The indexes snapped back into the green by mid-afternoon, however.

The S&P/ASX 200 Index looks set to rebound on Friday following a positive night of trade on Wall Street. According to the latest SPI futures, the benchmark index is expected to open the day 124 points or 2.5% higher this morning.











https://www.heraldextra.com/busines...cle_e83a9449-6962-5c6c-9a56-c3fc865a5ca7.html

* Cautious optimism on Wall Street, markets rise with aid hope *

By STAN CHOE and DAMIAN J. TROISE and ALEX VEIGA AP Business Writers
Mar 19, 2020 Updated 12 min ago

NEW YORK (AP) — Stocks capped a wobbly day on Wall Street with solid gains Thursday, reflecting cautious optimism among investors that emergency action by the U.S. government and central banks will cushion the global economy from a looming recession caused by the coronavirus pandemic.

The swings in the market were markedly less volatile than recent days. The Dow Jones Industrial Average gained almost 200 points, or 0.9%. The S&P 500 rose 0.5% after bouncing between a gain of 2.9% and a loss of 3.3% early. That would be a notable change in normal times, but the index has had eight straight days where it bounced up or down between 4.9% and 12%.

Markets have been so volatile because investors are weighing the increasing likelihood of a recession on one hand against huge, emergency efforts to prop up the economy on the other. Markets got more of each on Thursday.

The number of Americans filing for unemployment benefits jumped by 70,000 last week, more than economists expected, in one of the first signs of layoffs sweeping across the country. Wide swaths of the economy are grinding closer to a standstill, from the travel industry to restaurants, as authorities ask Americans to stay home to slow the spread of the virus. Another weak manufacturing report, this time in the mid-Atlantic region, added to the worries.

But the world's largest central banks announced their latest efforts to support financial markets and the economy. The European Central Bank launched an expanded program to buy up to 750 billion euros ($820 billion) in bonds, and the Bank of England cut its key interest rate to a record low of 0.1%.

The Federal Reserve unveiled measures to support money-market funds and the borrowing of dollars as investors in markets worldwide hurry to build up dollars and cash. The dash for cash has strained markets, and sellers of even high-quality bonds say they're having difficulty finding buyers at reasonable prices. Many of the Fed's moves, which are getting revived after being used in the 2008 financial crisis, are aimed at smoothing out operations in such markets.

“Every day there's another announcement of what the stimulus is going to look like, but what seems to be apparent is the recognition of some in the administration that funding is going to have to be larger, more significant than initially expected,” said Quincy Krosby, chief market strategist at Prudential Financial.

Investors also appeared encouraged by reports that China is set to ramp up stimulus spending after the province where the virus first emerged showed no new infections on Wednesday.

The price of U.S. crude oil notched its biggest one-day jump on record Thursday, climbing nearly 24%. With the gain, oil recouped nearly all its losses from the day before. Traders likely bid up oil prices following published reports saying the U.S. may intervene in an oil price war between Saudi Arabia and Russia that's helped knock oil prices into a steep skid this month.

Still, the market will likely remain volatile until investors see more economic data that shows just how badly the outbreak is hurting the economy.

“They're doing what they can, and I'm not sure what else they can do,” said Sal Bruno, chief investment officer at IndexIQ.

The Dow rose 188 points, or 1%, to 20,087. It had been down as much as 721 points earlier and as high as 543. The Nasdaq, which is dominated by tech giants such as Apple, gained 2.3%.

The S&P 500, which drives movements for most 401(k) accounts more than other indexes, is down roughly 29% since its record exactly a month ago and close to its lowest point since late 2018.

Major indexes started the day lower, then rose before and during a late morning news conference led by President Donald Trump to give updates on the outbreak. The gains were mostly gone in early afternoon trading as the indexes turned mixed. The indexes snapped back into the green by mid-afternoon, however.

European stocks swung from gains to losses and back to gains. Asian markets dropped following the brutal 5.1% loss for U.S. stocks the prior day.

Ultimately, investors say they need to see the number of new infections stop accelerating for the market’s extreme volatility to ease.

The total number of known infections has topped 220,000 worldwide, including nearly 85,000 people who had recovered. The death toll has crept toward 10,000.

For most people, the coronavirus causes only mild or moderate symptoms, such as fever and cough, and those with mild illness recover in about two weeks. Severe illness including pneumonia can occur, especially in the elderly and people with existing health problems, and recovery could take six weeks in such cases.

Until the number of new cases peak, investors will struggle with uncertainty about how much to pay for a stock, bond or commodity when they don't know how long the economic downturn will last. Many economists expect a sharp drop in the economy, but they disagree on how long it will take to bounce back.

The hope is that all the emergency actions by central banks and spending by governments can provide support for the economy in the meantime and soften the blow. The Trump administration has pitched lawmakers on a program that could flood $1 trillion into the economy, including checks sent directly to households.

The New York Stock Exchange said late Wednesday that it will temporarily close its trading floor and moving to all-electronic trading beginning Monday after two employees tested positive for coronavirus. The exchange has also started medically screening all personnel who enter the building. Much stock trading has gone electronic in recent years, and there are far fewer floor brokers than there used to be.
607


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## bigdog

Wall Street ended the week the same way it began: in full retreat from the coronavirus.

Stocks fell sharply and the price of oil sank Friday as federal and state governments moved to shut down bigger and bigger swaths of the nation’s economy in the hope of limiting the spread of the outbreak.

The Dow Jones Industrial Average slid more than 900 points, ending the week with a 17.3% loss. The index has declined in four of the last five weeks.

The latest sell-off wiped out the gains from a day earlier and capped the market’s worst week since the financial crisis of 2008.

Investors are worried that the coronavirus will plunge the U.S. and other major economies into deep recessions. Steps to contain the spread of the outbreak are causing massive disruptions and layoffs. Optimism that emergency actions by central banks and governments to ease the economic damage has waned as investors wait for the Trump administration to deliver on legislation that will pump billions of dollars into hurting households and industries.

"The coronavirus is shutting the economy down," said Lindsey Bell, chief investment strategist at Ally Invest. At the same time, oil prices are being pulled lower by increased supplies at a time when demand is declining.

The Dow fell 913.21 points, or 4.5, to 19,173.98. The S&P 500, the benchmark for many index funds held in retirement accounts and the measure preferred by professional investors, fell 4.3% after being up 1.8% earlier. The index is down 31.9% since reaching a record high a month ago.

Investors continued to seek safety in U.S. government bonds, driving their yields broadly lower. The 10-year Treasury yield, which influences interest rates on mortgages and other consumer loans, slid to 0.88% from 1.12% late Thursday.

Oil has been plunging recent weeks as investors anticipate a sharp drop in demand for energy as manufacturing, travel and commerce grind nearly to a halt. It's down from $45 a barrel earlier this month. A price war between Saudi Arabia and Russia has also pushed oil lower.










Week Chart








https://www.usnews.com/news/busines...s-rise-after-wall-street-advance-on-aid-hopes

*Dow Drops More Than 900 Points, Ending Worst Week Since 2008*
Stocks sank to their worst week since the financial crisis of 2008 as traders went into full retreat out of fear that the coronavirus will plunge the U.S. and other major economies into deep recessions.
By Associated Press, Wire Service Content March 20, 2020, at 5:13 p.m

By ALEX VEIGA, AP Business Writer

Wall Street ended the week the same way it began: in full retreat from the coronavirus.

Stocks fell sharply and the price of oil sank Friday as federal and state governments moved to shut down bigger and bigger swaths of the nation’s economy in the hope of limiting the spread of the outbreak.

The Dow Jones Industrial Average slid more than 900 points, ending the week with a 17.3% loss. The index has declined in four of the last five weeks.

The latest sell-off wiped out the gains from a day earlier and capped the market’s worst week since the financial crisis of 2008.

Investors are worried that the coronavirus will plunge the U.S. and other major economies into deep recessions. Steps to contain the spread of the outbreak are causing massive disruptions and layoffs. Optimism that emergency actions by central banks and governments to ease the economic damage has waned as investors wait for the Trump administration to deliver on legislation that will pump billions of dollars into hurting households and industries.

"The coronavirus is shutting the economy down," said Lindsey Bell, chief investment strategist at Ally Invest. At the same time, oil prices are being pulled lower by increased supplies at a time when demand is declining.

"This is kind of a double-whammy for the economy," she said.

Friday's selling accelerated after New York Gov. Andrew Cuomo ordered that most workers stay home. The declaration came a day after California announced similar measures. The move leaves restaurants, retailers and other businesses dependent on consumer traffic in economic limbo as they're forced to close doors and furlough or lay off workers.

The measures also mean less demand for oil. U.S. crude dropped about 21% and moved below $20 a barrel for first time since February 2002.

Investors say they need to see the number of new infections stop accelerating for the market’s volatile skid to ease.

“We just don't know what the next two weeks will bring," said Paul Christopher, global market strategist at the Wells Fargo Investment Institute. "Are we going to follow the same infection curve as other countries and the number infections will drastically accelerate? That's when the storm is going to come.”

More than 10,000 people have died. There are more than 246,000 cases worldwide, including nearly 85,000 people who have recovered.

For most people, the coronavirus causes only mild or moderate symptoms, such as fever and cough, and those with mild illness recover in about two weeks. Severe illness including pneumonia can occur, especially in the elderly and people with existing health problems, and recovery could take six weeks in such cases.

The Dow fell 913.21 points, or 4.5, to 19,173.98. The S&P 500, the benchmark for many index funds held in retirement accounts and the measure preferred by professional investors, fell 4.3% after being up 1.8% earlier. The index is down 31.9% since reaching a record high a month ago.

Investors continued to seek safety in U.S. government bonds, driving their yields broadly lower. The 10-year Treasury yield, which influences interest rates on mortgages and other consumer loans, slid to 0.88% from 1.12% late Thursday.

Oil has been plunging recent weeks as investors anticipate a sharp drop in demand for energy as manufacturing, travel and commerce grind nearly to a halt. It's down from $45 a barrel earlier this month. A price war between Saudi Arabia and Russia has also pushed oil lower.

European and Asian markets closed broadly higher.

Despite the latest bout of selling, hopes remain that there will be progress in finding virus treatments and that “a boatload of stimulus by both central banks and governments will put the global economy in position for a U-shaped recovery,” said Edward Moya of Oanda in a report.

On Capitol Hill, lawmakers continued to work to finalize a $1 trillion-plus aid package to prop up households and the U.S. economy that would put money directly into Americans' pockets. President Donald Trump has embraced the stimulus, believing it is needed to stabilize the economy and stock markets, which have been pummeled by the crisis.

“We hope to see the Congress act on that early next week,” Vice President Mike Pence said during an afternoon press conference.

At the same briefing, Trump announced an effective closure of the U.S. border with Mexico, prohibiting most travel except for trade. That brings it in line with the restriction on the Canadian border earlier this week.

Even with the market's broad slide, airlines, hotels and cruise line operators climbed as Congress worked on the economic stimulus bill that would include billions to bail out those industries. United Airlines surged 15.1% and MGM Resorts International jumped 18.3%. Carnival rose 20%. Despite the big gains, the stocks are still down sharply for the year.

In just its latest move to backstop the markets, the U.S. Federal Reserve said Friday it would seek to hold down spiking interest rates in the state and municipal bond market by supporting banks' purchase of the bonds.

Investors are jumpy due to uncertainty about the size and duration of the impact of the coronavirus outbreak and the spreading wave of business shutdowns meant to help contain it.

Markets are likely in for more turblence next week as investors get a better look at the economic fallout from businesses closures and layoffs. Goldman Sachs Group analysts project that this week's U.S. unemployment aid applications increased more than 2 million, a record.

"We are going to start to see really scary economic numbers," said Lindsey Bell, chief investment strategist at Ally Invest.

887


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## bigdog

*ASX 200 expected to fall.    *
The ASX 200 looks set to slide lower on Monday after a disappointing end to the week on Wall Street. According to the latest SPI futures, the benchmark index is expected to open the week 87 points or 1.8% lower.


----------



## bigdog

Stocks fell about 3% on Wall Street Monday as Congress hit another roadblock in talks to inject nearly $2 trillion into the coronavirus-weakened economy. Even an extraordinary flood of support for markets from the Federal Reserve wasn’t enough to lift stocks, as frustration with Washington and the number of virus cases rise.

The S&P 500 lost 67.52 points, or 2.9% to 2,237.40 in another day of sudden swings. It was down as much as 4.9% and as little as 0.2% earlier in the day. Before trading opened, futures for the S&P 500 swung from a loss of 5% to a gain following the Fed's announcement, a microcosm of the extreme volatility dominating the market in recent weeks.

The Dow Jones Industrial Average fell 582.05 points, or 3% to 18,591.93. The Nasdaq lost only 18.84 points, or 0.3%, to 6,860.67 as technology stocks held up better than the rest of the market.

Another attempt to advance the aid bill failed on Capitol Hill in an afternoon vote. The plan would send checks to U.S. households and offer support for small businesses and the hard-hit travel industry, among other things, but Democrats say it too heavily favors corporations at the expense of public health and workers.

As Congress was locked in stalemate, the number of known infections worldwide jumped past 350,000. After just a few weeks, the United States has more than 35,000 cases and more than 400 deaths.

“The Fed is only important to the extent that it keeps the markets running smoothly," said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. “It’s completely up to the federal government, and I mean Congress and the executive branch, at this point.”

With Monday's losses, the stock market has lost more than a third of its value since its record last month, as more businesses shut down in hopes of slowing the spread of the coronavirus. Economists increasingly say a recession seems inevitable, and no one can say for sure how deep it will be or how long it will last.

Markets are likely to remain incredibly volatile as long as the number of new infections accelerates. Until then, investors are looking for both central banks and governments to do their parts to support the economy.

The ASX 200 is poised to rebound on Monday despite further declines on Wall Street overnight. According to the latest SPI futures, the benchmark index is expected to open the day 61 points or 1.4% higher.










https://www.usnews.com/news/busines...hares-us-futures-sink-as-virus-crisis-deepens

*Stocks Slump, Despite Fed Aid, as Virus Bill Stalls Again*
Stocks are ending another bumpy day broadly lower on Wall Street as investors wait to see if Democrats and Republicans can settle their differences on an economic rescue package.
By Associated Press, Wire Service Content March 23, 2020, at 4:20 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Stocks fell about 3% on Wall Street Monday as Congress hit another roadblock in talks to inject nearly $2 trillion into the coronavirus-weakened economy. Even an extraordinary flood of support for markets from the Federal Reserve wasn’t enough to lift stocks, as frustration with Washington and the number of virus cases rise.

Another attempt to advance the aid bill failed on Capitol Hill in an afternoon vote. The plan would send checks to U.S. households and offer support for small businesses and the hard-hit travel industry, among other things, but Democrats say it too heavily favors corporations at the expense of public health and workers.

As Congress was locked in stalemate, the number of known infections worldwide jumped past 350,000. After just a few weeks, the United States has more than 35,000 cases and more than 400 deaths.

“The Fed is only important to the extent that it keeps the markets running smoothly," said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. “It’s completely up to the federal government, and I mean Congress and the executive branch, at this point.”

With Monday's losses, the stock market has lost more than a third of its value since its record last month, as more businesses shut down in hopes of slowing the spread of the coronavirus. Economists increasingly say a recession seems inevitable, and no one can say for sure how deep it will be or how long it will last.

Markets are likely to remain incredibly volatile as long as the number of new infections accelerates. Until then, investors are looking for both central banks and governments to do their parts to support the economy.

The Fed came through Monday, saying it would buy as many Treasurys and mortgage-backed securities as it takes to stabilize bond markets. It goes way beyond the $700 billion in purchases announced last week, which economists called a “bazooka” of support. It also said it will buy corporate bonds and other investments to help improve trading in markets, which have been thrown into mayhem amid a rush for cash.

Investors are rushing to sell what they can to raise cash, which has caused prices for even high-quality bonds to fall and trading to get snarled. The Fed's efforts are aimed at helping those markets.

"This is excellent, comprehensive, covering many areas of the financial markets, their function, the flow of credit — this is exactly what was needed,’’ said Donald Kohn, former Fed vice chair and now senior fellow at the Brookings Institution. “The Fed has hit it out of the park as far as I’m concerned.''

“The key issue now is getting the fiscal response straight,’’ said Kohn, saying that Congress needs to finance a stabilization fund to back up the Fed’s efforts.

Congress debated through the weekend on the rescue plan, but top White House officials and congressional leaders are struggling to finalize it. Democrats blocked a vote to advance the package Monday, trying to steer more of the assistance to public health and workers.

Still, optimism remains that they'll get to a compromise.

“If the alternative is crashing the plane, then you’ll do everything you can to not crash the plane,” said Thomas Martin, senior portfolio manager at Globalt. “Ultimately the government will get there."

Even if the two sides find a compromise, Congress may need to go through more rounds of similar negotiations if the outbreak isn't brought under control.

"It's battlefield dressing meant to keep the patient alive, but more will be needed to be done before a complete healing is accomplished," said Sam Stovall, chief investment strategist a CFRA.

"What we need to do is arrest the spread of the coronavirus — flatten the curve, if you will — and at the same time flatten consumers' anxiety, because we could simply end up seeing a rotation in frenzied buying from toilet paper to other commodities, and conceivably bank accounts."

The S&P 500 lost 67.52 points, or 2.9% to 2,237.40 in another day of sudden swings. It was down as much as 4.9% and as little as 0.2% earlier in the day. Before trading opened, futures for the S&P 500 swung from a loss of 5% to a gain following the Fed's announcement, a microcosm of the extreme volatility dominating the market in recent weeks.

The Dow Jones Industrial Average fell 582.05 points, or 3% to 18,591.93. The Nasdaq lost only 18.84 points, or 0.3%, to 6,860.67 as technology stocks held up better than the rest of the market.

For most people, the coronavirus causes only mild or moderate symptoms, such as fever and cough, and those with mild illness recover in about two weeks. Severe illness including pneumonia can occur, especially in the elderly and people with existing health problems, and recovery could take six weeks in such cases.

Trading on the New York Stock Exchange went all-electronic for the first time Monday after the exchange temporarily closed its trading floor as a precaution. The exchange announced the move last week after two employees tested positive for the virus. The number of floor traders had dwindled sharply in recent years as more trading become electronic.

Traders said the market is operating smoothly, or as well as it could given the conditions.

“Things are sort of seamless, as far as speed and execution go,” said Peter Tuchman. He's usually on the NYSE floor trading for Quattro Securities but now working from home.

“Surely, it runs smoother when we're there, but these are strange times calling for strange measures and to protect the community we have to stay home.”


----------



## bigdog

The Dow Jones Industrial Average surged to its best day since 1933 as Congress and the White House neared a deal on Tuesday to inject nearly $2 trillion of aid into an economy ravaged by the coronavirus.

The Dow burst 11.4% higher, while the more closely followed S&P 500 index leapt 9.4% as a wave of buying around the world interrupted what has been a brutal month of nearly nonstop selling. Investors released some frustration that had pent up over days of watching the Senate stalemate over the crucial rescue package.

Despite the gains, investors were far from saying markets have hit bottom. Rallies nearly as big as this have punctuated the last few weeks, and none lasted more than a day. Economists and investors alike are still expecting to see some dire economic numbers in the days and weeks ahead.

“Today was a good day, but we would not necessarily see this as turnaround time,” said Adam Taback, chief investment officer for Wells Fargo Private Bank.

Both Democrats and Republicans said Tuesday they’re close to agreeing on a massive economic rescue package, which will include payments to U.S. households and aid for small businesses and the travel industry, among other things. A vote in the Senate could come later Tuesday or Wednesday.

Investors were imploring Congress to act, particularly as the Federal Reserve has done nearly all it can to sustain markets, including its latest round of extraordinary aid launched Monday.

“It’s sort of like, keep the patient alive in the emergency room so you can provide some treatment options,” said Katie Nixon, chief investment officer at Northern Trust Wealth Management.

The Dow rose 2,112.98 points, its biggest point gain in history, to 20,704.91. The S&P 500, which is much more important to most 401(k) accounts, rose 209.93, or 9.4%, to 2,447.33 for its third-biggest percentage gain since World War II. The Nasdaq composite jumped 557.18 points, or 8.1%, to 7,417.86.

The buying circled the world. South Korean stocks surged 8.6%, Germany’s market jumped 11% and Treasury yields rose in a sign that investors are feeling less fearful.

The ASX 200 looks set to storm higher on Wednesday after a stunning rally on Wall Street overnight. According to the latest SPI futures, the benchmark index is expected to jump 274 points or 5.81% at the open.

*THE YELLOW HIGHLIGHTED COLUMNS REPORT 12 WEEK HIGH AND LOW CHANGES WhERE A MONTH AGO THE HIGHS WERE REACHED*










https://www.usnews.com/news/busines...s-rise-after-us-fed-promises-economic-support

*Dow Has Best Day Since 1933 as Congress Nears Deal on Aid*
The Dow Jones Industrial Average surged to its best day since 1933 as Congress and the White House neared a deal on Tuesday to inject nearly $2 trillion of aid into an economy ravaged by the coronavirus.
By Associated Press, Wire Service Content March 24, 2020, at 5:30 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — The Dow Jones Industrial Average surged to its best day since 1933 as Congress and the White House neared a deal on Tuesday to inject nearly $2 trillion of aid into an economy ravaged by the coronavirus.

The Dow burst 11.4% higher, while the more closely followed S&P 500 index leapt 9.4% as a wave of buying around the world interrupted what has been a brutal month of nearly nonstop selling. Investors released some frustration that had pent up over days of watching the Senate stalemate over the crucial rescue package.

Despite the gains, investors were far from saying markets have hit bottom. Rallies nearly as big as this have punctuated the last few weeks, and none lasted more than a day. Economists and investors alike are still expecting to see some dire economic numbers in the days and weeks ahead.

“Today was a good day, but we would not necessarily see this as turnaround time,” said Adam Taback, chief investment officer for Wells Fargo Private Bank.

Both Democrats and Republicans said Tuesday they’re close to agreeing on a massive economic rescue package, which will include payments to U.S. households and aid for small businesses and the travel industry, among other things. A vote in the Senate could come later Tuesday or Wednesday.

Investors were imploring Congress to act, particularly as the Federal Reserve has done nearly all it can to sustain markets, including its latest round of extraordinary aid launched Monday.

“It’s sort of like, keep the patient alive in the emergency room so you can provide some treatment options,” said Katie Nixon, chief investment officer at Northern Trust Wealth Management.

The Dow rose 2,112.98 points, its biggest point gain in history, to 20,704.91. The S&P 500, which is much more important to most 401(k) accounts, rose 209.93, or 9.4%, to 2,447.33 for its third-biggest percentage gain since World War II. The Nasdaq composite jumped 557.18 points, or 8.1%, to 7,417.86.

The buying circled the world. South Korean stocks surged 8.6%, Germany’s market jumped 11% and Treasury yields rose in a sign that investors are feeling less fearful.

The market has seen rebounds like this before, only for them to wash out immediately. Since stocks began selling off on Feb. 20, the S&P 500 has had six days where it’s risen, and all but one of them were big gains of more than 4%. After them, stocks fell an average of 5% the next day.

“One of the things to be careful about is thinking this will be the panacea or that this fiscal response will be sufficient,” said Eric Freedman, chief investment officer at U.S. Bank Wealth Management.

Ultimately, investors say they need to see the number of new infections peak before markets can find a floor. The increasing spread is forcing companies to park airplanes, shut hotels and close restaurants to dine-in customers.

President Donald Trump said Tuesday during a Fox News virtual town hall that he hopes to “open up ” the economy by Easter. Analysts said the pronouncement wasn't a contributor to the day's huge rally, which was mostly due to the stimulus hopes.

For most people, the coronavirus causes only mild or moderate symptoms, such as fever and cough. Those with mild illness recover in about two weeks. Severe illness including pneumonia can occur, especially in the elderly and people with existing health problems. Recovery could take six weeks in such cases.

Economists are topping each other’s dire forecasts for how much the economy will shrink this spring due to the closures of businesses, and a growing number say a recession seems inevitable.

Some of the market’s areas hardest hit by the closures, though, led the way higher Tuesday as expectations rose for incoming aid from the U.S. government.

Norwegian Cruise Lines, MGM Resorts and American Airlines Group were all up at least 33%. Energy companies and banks were also strong, though all remain well below where they were a month ago.

Governments and central banks in other countries around the world are unveiling unprecedented levels of support for their economies in an attempt to limit the scale of the upcoming virus-related slump. Germany, a bastion of budgetary discipline, also approved a big fiscal boost.

The gains came even as the first reports arrived showing how badly the outbreak is hitting the global economy. In the United States, a preliminary reading on business activity in March showed the steepest contraction on record, going back to 2009. Reports were also gloomy for Europe.

“Everyone was prepared for a set of shockers, and that is precisely what we got, but they are not a surprise,” said Chris Beauchamp, chief market analyst at IG. “It is at times like this that the market’s propensity to look forward is demonstrated most effectively.”

More gloomy data is nearly assuredly on the way. On Thursday, economists expect a report to show the number of Americans applying for jobless claims easily set a record last week. Some say the number could be way beyond 1 million, amid a wave of layoffs, topping the prior record of 695,000 set in 1982.

Helping to lift sentiment in markets is news from China that it is preparing to lift the lockdown in Wuhan, the epicenter of the outbreak, and from Italy reporting a reduction in the number of new cases and coronavirus-related deaths.

“It's still early days, of course — perhaps investors can start to envisage life beyond the coronavirus,” said Craig Erlam, senior market analyst at OANDA Europe. “That could make stocks look a little more attractive, although anyone jumping back in now will need to have nerves of steel.”

Despite Tuesday's big gains, it's no time to get complacent, said Wells Fargo’s Taback.

"We would caution that the danger is not all behind us at this point," he said. “We still have not seen numbers that give us an indication of just how bad things are.”


----------



## bigdog

Stocks scored their first back-to-back gains Wednesday since a brutal sell-off began five weeks ago, but much of an early rally faded late in the day as a last-minute dispute threatened to hold up a $2 trillion economic rescue package in Congress.

The S&P 500 rose 1.2%, bringing its two-day gain to 10.6%. It had been up 5.1% earlier in the day as Congress moved closer to approving the plan to provide badly needed aid to an economy that has been ravaged by the coronavirus. The market is now down nearly 27% since setting a record high a month ago.

Many on Wall Street say they don’t think stocks have hit bottom yet, but optimism rose after the White House and Senate leaders announced an agreement on the aid bill early Wednesday. A vote had been expected in the Senate by the end of the day, but then some lawmakers balked at the proposed bill.

GOP Senators Tim Scott, Ben Sasse and Lindsey Graham demanded changes, saying the legislation as written “incentivizes layoffs" and should be altered to ensure employees don't earn more money if they're laid off than if they're working. Complicating the standoff, Sen. Bernie Sanders of Vermont said he would block the bill unless the conservatives dropped their objections.

But the market has also had a couple days within the last few weeks that packed entire years’ worth of losses, including one drop of 12% and another of 9.5%. The last time the S&P 500 had a back-to-back gain was Feb. 12, a week before the index set its record high.

The uncertainty has carried over even to trading within a certain day or a certain hour.

On Wednesday, for example, the S&P 500 was down as much as 1.6% before it turned decisively higher. It ended the day up 28.23 points to 2,475.56. The Dow Jones Industrial Average rose 495.64 points, or 2.4%, to 21,200.55. It had been up more than 1,300 points before the rally faded. The Nasdaq swung from a gain of 3.4% to a loss of 0.5% as it dropped 33.56 points to 7,384.30. The Russell 2000 index of smaller company stocks gained 13.79 points, or 1.3%, to 1,110.34.

Boeing soared 24.3% in part on expectations that it stands to gain from the aid package brokered on Capitol Hill. Other travel-related stocks also stormed higher to recoup a fraction of their huge losses over the last month. Royal Caribbean Cruises jumped 23%, but it's still down by 68.2% for the year.

The ASX 200 looks set to continue its ascent on Thursday after another positive night of trade on Wall Street. According to the latest SPI futures, the benchmark index is expected to jump 185 points or 3.7% at the open.










https://www.usnews.com/news/busines...s-jump-after-dow-sees-biggest-gain-since-1933

*Stocks Have First Back-To-Back Gains Since Sell-Off Began*
Stocks scored their first back-to-back gains since a brutal sell-off began five weeks ago, but much of an early rally faded late in the day as a last-minute dispute threatened to hold up a $2 trillion economic rescue package in Congress.
By Associated Press, Wire Service Content March 25, 2020, at 5:22 p.m

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Stocks scored their first back-to-back gains Wednesday since a brutal sell-off began five weeks ago, but much of an early rally faded late in the day as a last-minute dispute threatened to hold up a $2 trillion economic rescue package in Congress.

The S&P 500 rose 1.2%, bringing its two-day gain to 10.6%. It had been up 5.1% earlier in the day as Congress moved closer to approving the plan to provide badly needed aid to an economy that has been ravaged by the coronavirus. The market is now down nearly 27% since setting a record high a month ago.

Many on Wall Street say they don’t think stocks have hit bottom yet, but optimism rose after the White House and Senate leaders announced an agreement on the aid bill early Wednesday. A vote had been expected in the Senate by the end of the day, but then some lawmakers balked at the proposed bill.

GOP Senators Tim Scott, Ben Sasse and Lindsey Graham demanded changes, saying the legislation as written “incentivizes layoffs" and should be altered to ensure employees don't earn more money if they're laid off than if they're working. Complicating the standoff, Sen. Bernie Sanders of Vermont said he would block the bill unless the conservatives dropped their objections.

Investors were anxiously waiting for the aid in the rescue package, which lawmakers hope will help blunt the blow to the economy as businesses shut down to slow the spread of the coronavirus.

“They're hitting on all the right elements of what the U.S. economy needs during the shutdown to bridge itself to the other side to open up economic activity,” said Darrell Cronk, chief investment officer of Wells Fargo Wealth and Investment Management.

But even optimists say the package provides just the second leg of three that markets need to regain lasting confidence. The Federal Reserve and other central banks are also offering tremendous aid by cutting interest rates and supporting lending markets, but investors say they need to see the number of new infections peak before they can feel comfortable knowing how deep the looming economic downturn will be.

“There's a lot of bad news, there's very little tangible good news and there's a lot of uncertainty in between,” said Jack Ablin, chief investment officer at Cresset.

Investors are also still waiting to see the details of Washington's plan, which will include direct payments to most Americans and aid for hard-hit industries. It's unclear when the House of Representatives could vote on the plan.

“It's too early to call a bottom because there's way too much uncertainty,” said Tony Rodriguez, head of fixed income strategy at Nuveen.

“The bottom implies it's not going lower, and I don't think that,” he said. “For it to become a bottom, you would need to see much better news coming out on the health care side of this.”

The number of known infections has leaped past 450,000 people worldwide, and more than 20,000 have died, according to Johns Hopkins University. Overall, more than 112,000 have recovered.

For most people, the new coronavirus causes mild or moderate symptoms, such as fever and cough that clear up in two to three weeks. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia and death.

With widening swaths of the economy shutting down and layoffs mounting, economists are sure a steep drop-off is coming. They're forecasting a report on Thursday will show a record number of Americans filed for unemployment benefits as layoffs sweep the country. What’s unsure is how long it will last.

 That uncertainty has led to wild swings in the stock market over the last month. The S&P 500 surged 9.4% Tuesday as expectations built that Washington was nearing a stimulus deal. That was a better performance than the index has turned in for 10 of the last 20 full years.

But the market has also had a couple days within the last few weeks that packed entire years’ worth of losses, including one drop of 12% and another of 9.5%. The last time the S&P 500 had a back-to-back gain was Feb. 12, a week before the index set its record high.

The uncertainty has carried over even to trading within a certain day or a certain hour.

On Wednesday, for example, the S&P 500 was down as much as 1.6% before it turned decisively higher. It ended the day up 28.23 points to 2,475.56. The Dow Jones Industrial Average rose 495.64 points, or 2.4%, to 21,200.55. It had been up more than 1,300 points before the rally faded. The Nasdaq swung from a gain of 3.4% to a loss of 0.5% as it dropped 33.56 points to 7,384.30. The Russell 2000 index of smaller company stocks gained 13.79 points, or 1.3%, to 1,110.34.

Boeing soared 24.3% in part on expectations that it stands to gain from the aid package brokered on Capitol Hill. Other travel-related stocks also stormed higher to recoup a fraction of their huge losses over the last month. Royal Caribbean Cruises jumped 23%, but it's still down by 68.2% for the year.

Nike climbed nearly 9.2% after it said stronger online sales in China during the coronavirus outbreak helped it offset plunges in revenue caused by the shutdown of stores across the country. The company said it will follow a similar playbook in other countries as the outbreak has spread around the world. It also said sales are bouncing back in China, where the outbreak has eased and most Nike stores have reopened.

European markets ended with sizable gains. France's CAC 40 rose 4.5% and Germany's DAX rose 1.8%. Asian markets rose broadly, led by an 8% jump in Japan.

Treasury yields were mixed. The yield on the 10-year Treasury rose to 0.84% from 0.81% late Tuesday.


----------



## bigdog

The Dow was also adding to its gains this week. It rose 6.4%, or 1,351.62 points to 22,552.17. The Nasdaq gained 413.24 points, or 5.6%, to 7,797.54. The benchmark S&P 500 index rose 154.51 points to 2,630.07.

Stocks marched higher for a third straight day Friday as a massive coronavirus relief bill moved closer to passing Congress and Wall Street took some historically bad unemployment figures in stride.

The S&P 500 rose 6.2%, bringing its three-day rally to 17.6%. The Dow industrials have risen an even steeper 21.3% since Monday.

Nearly 3.3 million Americans applied for unemployment benefits last week, easily shattering the prior record set in 1982, as layoffs and business shutdowns sweep across the country.

The market shot higher Thursday because Wall Street knew the bad news on unemployment was coming, analysts said, and the Senate finally passed a $2.2 trillion economic aid package as part of an astonishing amount of support being pushed into the economy by politicians and the Federal Reserve.

“There is no sugar coating these numbers — they are bad,” said Jamie Cox, managing partner for Harris Financial Group. “Markets have had several days to digest what everyone knew was coming; therefore, the market response to these numbers may differ than what people might expect.”

Despite the big gains, the S&P 500 remains 22% below its February high and analysts expect more dire economic headlines, and market turbulence, in the days ahead.

Companies are also expected to report discouraging results in just a few weeks as earnings season begins. Very few have dared to issue forecasts capturing how big a hit the virus will inflict on their profits.

The market’s rally began Tuesday amid expectations that Congress would approve the massive rescue plan, which includes direct payments to U.S. households and aid to hard-hit industries. The House of Representatives is expected to approve it Friday.

The prospect of a big financial shot in the arm for businesses and households helped offset some of the concerns about the steep job losses the economy is beginning to see due to the coronavirus.

Investors still need to see stability in banks and, especially, in oil prices to maintain confidence, because markets could be in for another slide if oil goes below $20 a barrel, said Andrew Slimmon, managing director and senior portfolio manager at Morgan Stanley Investment Management.

The ASX 200 looks set to be a positive end to the week. According to the latest SPI futures, the benchmark index is expected to open the day 140 points or 2.75% higher on Friday.










https://www.usnews.com/news/busines...ocks-mixed-after-us-senate-approves-virus-aid

*Stocks Surge Again After Relief Bill Passed; Indexes up 6%*
Stocks surged again on Wall Street as a massive coronavirus relief bill moved closer to passing Congress.
By Associated Press, Wire Service Content March 26, 2020, at 4:58 p.m.

By STAN CHOE and ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) —
Stocks marched higher for a third straight day Friday as a massive coronavirus relief bill moved closer to passing Congress and Wall Street took some historically bad unemployment figures in stride.

The S&P 500 rose 6.2%, bringing its three-day rally to 17.6%. The Dow industrials have risen an even steeper 21.3% since Monday.

Nearly 3.3 million Americans applied for unemployment benefits last week, easily shattering the prior record set in 1982, as layoffs and business shutdowns sweep across the country.

The market shot higher Thursday because Wall Street knew the bad news on unemployment was coming, analysts said, and the Senate finally passed a $2.2 trillion economic aid package as part of an astonishing amount of support being pushed into the economy by politicians and the Federal Reserve.

“There is no sugar coating these numbers — they are bad,” said Jamie Cox, managing partner for Harris Financial Group. “Markets have had several days to digest what everyone knew was coming; therefore, the market response to these numbers may differ than what people might expect.”

Despite the big gains, the S&P 500 remains 22% below its February high and analysts expect more dire economic headlines, and market turbulence, in the days ahead.

Companies are also expected to report discouraging results in just a few weeks as earnings season begins. Very few have dared to issue forecasts capturing how big a hit the virus will inflict on their profits.

The market’s rally began Tuesday amid expectations that Congress would approve the massive rescue plan, which includes direct payments to U.S. households and aid to hard-hit industries. The House of Representatives is expected to approve it Friday.

The prospect of a big financial shot in the arm for businesses and households helped offset some of the concerns about the steep job losses the economy is beginning to see due to the coronavirus.

Investors still need to see stability in banks and, especially, in oil prices to maintain confidence, because markets could be in for another slide if oil goes below $20 a barrel, said Andrew Slimmon, managing director and senior portfolio manager at Morgan Stanley Investment Management.

Benchmark U.S. oil slid 7.7% to settle at $22.60 a barrel. Goldman Sachs has forecast that it will fall well below $20 a barrel in the next two months because storage will be filled to the brim and wells will have to be shut in.

“I wouldn’t necessarily say that where the market was yesterday we won’t see that again,” Slimmon said. “There is bad news still to come.”

Investors say the market needs three main things to slow its breathtaking drop, which has sliced one quarter off the S&P 500 since it set its record last month.

The first is already here after the Federal Reserve has slashed interest rates back to nearly zero and offered to buy an unlimited amount of Treasurys to get lending markets running more smoothly. The second is making progress, as the economic rescue plan moves through Capitol HIll.

The third, though, is getting more concerning by the day: the accelerating spread of the virus.

The United States has more than 69,000 known cases, and the worldwide number of infections has topped a half-million, according to Johns Hopkins University. The death toll has climbed to more than 23,000, while more than 120,000 have recovered.

For most people, the new coronavirus causes mild or moderate symptoms, such as fever and cough that clear up in two to three weeks. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia and death

The yield on the 10-year Treasury fell to 0.83% from 0.85% late Wednesday. It had been as low as 0.77% just before the jobless report was released. Lower yields reflect dimmer expectations for economic growth and greater demand for low-risk assets.

Boeing continued to climb after soaring more than 24% Wednesday in part on expectations that it stands to gain from the Congressional aid package. The aircraft manufacturer was the biggest gainer in the Dow Jones Industrial Average, rising 13.7%.

The Dow was also adding to its gains this week. It rose 6.4%, or 1,351.62 points to 22,552.17. The Nasdaq gained 413.24 points, or 5.6%, to 7,797.54. The benchmark S&P 500 index rose 154.51 points to 2,630.07.

European markets closed broadly higher following a mixed finish for Asian markets.

Despite the solid rally this week, analysts say further big drops are common until there have been enough sustained gains in the market to ease investors’ fear of further declines.

“Historically, you do test the bottom one, two, three times before you’re convinced it’s over and then you build up again toward that viable rally,” said Quincy Krosby, chief market strategist at Prudential Financial. “What you have here, obviously, is a concern about how deep the recession is going to be and when are we going to come out.”


----------



## bigdog

Wall Street closed lower Friday but still notched big gains for the week as investors held out hope that a $2 trillion rescue package will cushion businesses and households from the economic devastation being caused by the coronavirus.

The S&P 500 closed 3.4% lower, but still climbed 10.3% for the week, its biggest gain since March 2009. That follows two weeks of relentless selling. The Dow Jones Industrial Average's 12.8% weekly gain was its biggest since 1938, thanks largely to Boeing, which climbed 70.5% this week.

Stocks had soared over the previous three days as the relief bill moved closer to becoming law. It passed the House Friday afternoon and President Donald Trump signed it later in the day. The bill includes direct payments to households, aid to hard-hit industries like airlines and support for small businesses. Despite the help, analysts expect markets to remain turbulent until the outbreak begins to wane.

Even after the rally this week the market is still down 25% from the peak it reached a month ago. The outbreak has forced widespread shutdowns that has ground much of the U.S. economy to a halt. This week more than 3 million people filed for unemployment benefits, shattering previous records. It's the first of what is sure to be many grim signs of the toll the virus is taking on the economy.

“The key at this point is getting a handle on the spread of the virus so that then we can start to think about what (economic) growth looks like for the remainder of the year,” said Willie Delwiche, investment strategist at Baird.

The push to deliver financial relief is taking on more urgency as the outbreak continues to widen. The number of cases in the U.S. has now surpassed those in China and Italy, climbing to more than 86,000 known cases, according to Johns Hopkins University. The worldwide total has topped 550,000, and the death toll has climbed to more than 25,000, while more than 127,000 have recovered.

The latest bout of selling left the S&P 500 down 88.60 points, or 3.4%, to 2,541.47. The Dow slid 915.39 points, or 4.1%, to 21,636.78. The Nasdaq lost 295.16 points, or 3.8%, to 7,502.38. The Russell 2000 index of smaller company stocks fell 48.33 points, or 4.1%, to 1,131.99.

The price of crude oil slid 4.8% to close at $21.51 a barrel. Goldman Sachs has forecast that it will fall well below $20 a barrel in the next two months because storage will be filled to the brim and wells will have to be shut in.










WEEKLY CHART










https://www.usnews.com/news/busines...s-advance-after-stimulus-surge-on-wall-street

*Stocks Drop, but Hold on to Weekly Gains After a Big Rally*
Stocks fell more than 3% on Wall Street, giving back part of the gains they piled up over the past three days.
By Associated Press, Wire Service Content March 27, 2020, at 5:22 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Wall Street closed lower Friday but still notched big gains for the week as investors held out hope that a $2 trillion rescue package will cushion businesses and households from the economic devastation being caused by the coronavirus.

The S&P 500 closed 3.4% lower, but still climbed 10.3% for the week, its biggest gain since March 2009. That follows two weeks of relentless selling. The Dow Jones Industrial Average's 12.8% weekly gain was its biggest since 1938, thanks largely to Boeing, which climbed 70.5% this week.

Stocks had soared over the previous three days as the relief bill moved closer to becoming law. It passed the House Friday afternoon and President Donald Trump signed it later in the day. The bill includes direct payments to households, aid to hard-hit industries like airlines and support for small businesses. Despite the help, analysts expect markets to remain turbulent until the outbreak begins to wane.

Even after the rally this week the market is still down 25% from the peak it reached a month ago. The outbreak has forced widespread shutdowns that has ground much of the U.S. economy to a halt. This week more than 3 million people filed for unemployment benefits, shattering previous records. It's the first of what is sure to be many grim signs of the toll the virus is taking on the economy.

“The key at this point is getting a handle on the spread of the virus so that then we can start to think about what (economic) growth looks like for the remainder of the year,” said Willie Delwiche, investment strategist at Baird.

The push to deliver financial relief is taking on more urgency as the outbreak continues to widen. The number of cases in the U.S. has now surpassed those in China and Italy, climbing to more than 86,000 known cases, according to Johns Hopkins University. The worldwide total has topped 550,000, and the death toll has climbed to more than 25,000, while more than 127,000 have recovered.

For most people, the new coronavirus causes mild or moderate symptoms, such as fever and cough that clear up in two to three weeks. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia, or death.

Investors have yet to get a clear picture of exactly how badly the crisis has hurt corporate profits, the ultimate driver of stock prices. Very few companies have dared to issue forecasts capturing the damage, though traders are girding for discouraging results in the next few weeks as earnings reporting season begins. Many companies have simply withdrawn their profit forecasts altogether.

At the start of this year, analysts expected S&P 500 companies' earnings would grow 4.4% in the January-March quarter. They now expect earnings will be down 4.1%, according to FactSet.

Earnings for airlines, which have been hit by lost bookings as businesses and individuals canceled travel plans to minimize their risk of contracting the virus, are expected to be catastrophically bad. Delta went from an expected 2.2% decline to a 108% plunge.

Even the current forecasts may not yet reflect the size of the potential earnings declines this year, with only 15% of analysts having adjusted their estimates within the past couple of weeks, according to a report by Credit Suisse.

The latest bout of selling left the S&P 500 down 88.60 points, or 3.4%, to 2,541.47. The Dow slid 915.39 points, or 4.1%, to 21,636.78. The Nasdaq lost 295.16 points, or 3.8%, to 7,502.38. The Russell 2000 index of smaller company stocks fell 48.33 points, or 4.1%, to 1,131.99.

Cruise operators Norwegian Cruise Line and Carnival led the decliners in the S&P 500 Friday. The industry has been among the hardest hit by the economic fallout from the coronavirus. The companies are down more than 70% so far this year.

The price of crude oil slid 4.8% to close at $21.51 a barrel. Goldman Sachs has forecast that it will fall well below $20 a barrel in the next two months because storage will be filled to the brim and wells will have to be shut in.

That's sure to cause even more trouble for energy companies, which are lagging far behind the rest of the market. The price of oil has plunged recently, in part due to a price war that broke out early this month between Saudi Arabia and Russia. The energy sector of the S&P 500 has lost half its value this year.

The yield on the 10-year Treasury fell to 0.68% from 0.81% late Thursday. Lower yields reflect dimmer expectations for economic growth and greater demand for low-risk assets.

The overall downturn in the markets in recent weeks is creating good opportunities for investors to buy into sectors of the market that will be “prevalent” for the next decade, including e-commerce and technology companies that focus on things like gene therapies, said Solita Marcelli, deputy chief investment officer, Americas, at UBS Global Wealth Management.

The strong rallies this week have prompted some analysts to suggest the worst of the selling could be over. But most expect stocks to touch on recent lows again until there have been enough sustained gains in the market, and progress in fighting the pandemic, to ease investors' fear of further declines.

“The takeaway from this week is the initial down phase has probably run its course,” Delwiche said. “Investors can get out of the duck-and-cover mode and start to figure out what they need to do. It doesn't mean that we've gotten an all-clear signal.”

365


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## bigdog

The ASX 200 looks set to push higher on Monday despite a disappointing end to the week on Wall Street. According to the latest SPI futures, the benchmark index is expected to open the week 6 points or 0.1% higher.


----------



## ducati916

After Fed Unleashes Firepower, Washington Rearms Central Bank -- Update

By Nick Timiraos

The Federal Reserve quickly deployed a half-dozen emergency lending programs over the past two weeks to ensure cash keeps coursing through the U.S. financial system. Now, Congress wants it to go much further, approving $454 billion to reload the Fed's own ability to lend.

Washington is relying on the Fed, to an unprecedented degree in peacetime, to preserve business balance sheets after elected officials and private industry have put the economy into the equivalent of a medically induced coma to stop the spread of the coronavirus pandemic.

The economic-rescue legislation President Trump signed on Friday asks the Fed to charge headlong into credit and fiscal policy, by financing businesses, states and cities. These are areas the central bank has normally regarded as matters best left to elected officials in Congress and the White House.

"Congress is the Fed's boss and Congress has mandated them to lend to areas of the economy that they were previously uncomfortable doing," said Julia Coronado, a former Fed economist and founder of economic-advisory firm MacroPolicy Perspectives.

The Fed has essentially unlimited power to lend during a crisis so long as officials consider their loans well-secured. By providing the Treasury Department with a sizable pot of money, Congress has given the central bank more flexibility to ramp up lending because the Treasury will agree to absorb initial losses.

"This is an opportunity to leverage the unlimited balance sheet of the Fed," Sen. Pat Toomey (R., Pa.) told reporters last week. "It's totally unprecedented. We're hoping that it's a mechanism to keep business alive."

The move to entrust the Fed with more responsibility marks an about-face for both Congress and Mr. Trump, who has unsparingly criticized the central bank and the man he picked to lead it, Jerome Powell, for keeping rates too high. Ten years ago, Congress curbed the very emergency-lending authorities lawmakers are now asking the Fed to use, after popular outrage over how the central bank exercised those powers following the failures of Bear Stearns Cos. and American International Group Inc. in 2008.

The Fed's longstanding reluctance to coordinate with fiscal policy dates to an accord with the Treasury Department in 1951. It was reached after the Fed overrode the Truman administration's demands to maintain pegs that had fixed yields on Treasury securities to support the economy during and after World War II.

"There is a long history of coordination between the Fed, the administration, and Congress ending in a bad place," said Claudia Sahm, a former Fed economist now at the Washington Center for Equitable Growth, a liberal think tank. "That shows how severe the situation is."

Mr. Powell, a lawyer who worked in the Treasury Department during the George H.W. Bush administration, has worked diligently during his two years as Fed chairman to meet regularly with scores of lawmakers on both sides of the aisle.

By outsourcing more of the crisis response to the Fed, lawmakers are signaling both a vote of confidence in the central bank while potentially shielding themselves from blame for the difficult decisions that lie ahead, said Mark Spindel, a Washington-based investment manager who co-wrote a book on the Fed's historical relationship with the White House and Congress.

"To Jay's credit, he has worked extensively to forge that connective tissue with Congress, so the individual and the institution are seen as objective; in the best sense, technocratic; and independent of the hyper-partisanship" in Washington, said Mr. Spindel.

The Fed's initial response borrowed from the programs developed by former Fed Chairman Ben Bernanke, who during the 2008 financial crisis broke the seal on lending authorities the Fed hadn't employed since Great Depression.

Having exhausted those off-the-shelf tools, Mr. Powell must now devise new ones, relying on the advice of British journalist Walter Bagehot, author of an 1873 book that central bankers still use as a guide for crisis management.

"The holders of the cash reserve must be ready not only to keep it for their own liabilities, but to advance it most freely for the liabilities of others," Bagehot wrote. "They must lend to merchants, to minor bankers, to 'this man and that man,' whenever the security is good."

The Fed can't lend directly to companies but, with the approval of the Treasury secretary, it can create special facilities that extend credit. The Treasury has already kicked in $10 billion for each of five facilities, including two that will support markets for large firms' debt.

The new Treasury infusions are likely to support another facility the Fed has said it will create to lend to potentially thousands of midsize businesses, likely through the banks that can borrow directly from the Fed -- a massive operational enterprise unlike anything the central bank has done.

The central bank is also looking into ways to prevent higher borrowing costs from exacerbating strains for state and local treasuries.

The real-estate industry, meanwhile, is lobbying the Fed to extend loans to thinly capitalized nonbank mortgage companies that will face distress if loan delinquencies rise. Those firms must pay investors in mortgage bonds even if borrowers fall behind on their payments. Any failure among nonbank mortgage firms could interfere with substantial efforts to keep mortgage rates low.

"Many places in the capital markets, which support borrowing by households and businesses -- I'm talking about mortgages and car loans and things like that -- have just stopped working," said Mr. Powell in a television interview last week.

"So we can step in and replace that lending under our emergency lending powers," Mr. Powell said. "We will do that."

As these facilities are launched, officials are likely to face tricky questions about how much further to intervene in credit markets that remain in rotten shape, especially now that they will have more funds available to take losses. Existing facilities have limited lending to the highest-rated borrowers.

"Given they are constrained by how much protection they're going to get from the Treasury, the fundamental logic of limiting yourself to higher-quality assets but being able to do more is the right trade-off," said Lewis Alexander, chief U.S. economist at Nomura Securities.

"Every step you take into the riskier realm, the less you can do," Mr. Alexander said. "They have to make a choice about that."

Write to Nick Timiraos at nick.timiraos@wsj.com

(END) Dow Jones Newswires

March 29, 202012:42 ET (16:42 GMT)

(c) 2020 Dow Jones & Company, Inc.


In the words of Al Davies, 'Just win baby!'

jog on
duc


----------



## bigdog

The S&P 500 rose 85.18 points to 2,626.65. The Dow Jones Industrial Average gained 690.70, or 3.2%, to 22,327.48, and the Nasdaq gained 271.77, or 3.6%, to 7,774.15.

U.S. stocks climbed Monday, led by big gains for health care companies announcing developments that could aid in the coronavirus outbreak.

The rally tacked more gains onto a recent upswing for the market, which is coming off the best week for the S&P 500 in 11 years. Nascent optimism is budding that the worst of the selling may be approaching, but markets around the world are still tentative as global authorities try to nurse the economy through the pandemic. The S&P 500 remains 22.4% below its record set last month, and oil tumbled to an 18-year low.

The S&P 500 rose 3.4% Monday for its fourth gain in the last five days. European indexes climbed after erasing earlier losses. Asian markets were down, but by much milder degrees than the huge swings that have rocked investors over the last six weeks.

A surge for health care stocks led the way at the week’s open. Johnson & Johnson leaped 8% after saying it expects to begin human clinical studies on a vaccine candidate for COVID-19 by September. Abbott Laboratories jumped 6.4% after saying it has a test that can detect the new coronavirus in as little as five minutes.

Stocks jumped last week after the Federal Reserve promised to buy as many Treasurys as it takes to get lending markets running smoothly and Capitol Hill reached a deal on a $2.2 trillion rescue package for the economy.

“The market wants to see everything line up, and last week everything lined up,” said Nela Richardson, investment strategist at Edward Jones, referring to the unprecedented aid from the Fed and Congress.

Now, she said, President Donald Trump also appears to be in sync with health experts about the need to restrict the economy to slow the spread of the virus. Trump on Sunday extended social-distancing guidelines, which recommend against group gatherings larger than 10, through the end of April. Earlier, he had said he wanted the economy open by Easter.

The ASX 200 looks set to continue its positive run on Tuesday after a solid start to the week on Wall Street. According to the latest SPI futures, the benchmark index is expected to open the day 41 points or 0.8% higher.










https://www.usnews.com/news/busines...es-extend-losses-as-toll-from-pandemic-surges

*Wall Street's Rally Rolls On, Led by Health Care Stocks*
Stocks climbed on Wall Street Monday, led by big gains for health care companies announcing developments that could aid in the coronavirus outbreak.
By Associated Press, Wire Service Content March 30, 2020, at 4:44 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — U.S. stocks climbed Monday, led by big gains for health care companies announcing developments that could aid in the coronavirus outbreak.

The rally tacked more gains onto a recent upswing for the market, which is coming off the best week for the S&P 500 in 11 years. Nascent optimism is budding that the worst of the selling may be approaching, but markets around the world are still tentative as global authorities try to nurse the economy through the pandemic. The S&P 500 remains 22.4% below its record set last month, and oil tumbled to an 18-year low.

The S&P 500 rose 3.4% Monday for its fourth gain in the last five days. European indexes climbed after erasing earlier losses. Asian markets were down, but by much milder degrees than the huge swings that have rocked investors over the last six weeks.

A surge for health care stocks led the way at the week’s open. Johnson & Johnson leaped 8% after saying it expects to begin human clinical studies on a vaccine candidate for COVID-19 by September. Abbott Laboratories jumped 6.4% after saying it has a test that can detect the new coronavirus in as little as five minutes.

Stocks jumped last week after the Federal Reserve promised to buy as many Treasurys as it takes to get lending markets running smoothly and Capitol Hill reached a deal on a $2.2 trillion rescue package for the economy.

“The market wants to see everything line up, and last week everything lined up,” said Nela Richardson, investment strategist at Edward Jones, referring to the unprecedented aid from the Fed and Congress.

Now, she said, President Donald Trump also appears to be in sync with health experts about the need to restrict the economy to slow the spread of the virus. Trump on Sunday extended social-distancing guidelines, which recommend against group gatherings larger than 10, through the end of April. Earlier, he had said he wanted the economy open by Easter.

“Now that message is in line,” said Richardson. “All these things line up coming into this week, and that’s why you saw strong performance last week continuing today.”

Some of Monday’s sharpest action was in the oil market, where benchmark U.S. crude fell 6.6% to $20.09 a barrel after touching its lowest price since 2002.

Oil started the year above $60 and has plunged on expectations that a weakened economy will burn less fuel. The world is awash in oil, meanwhile, as producers continue to pull more of it out of the ground.

The S&P 500 rose 85.18 points to 2,626.65. The Dow Jones Industrial Average gained 690.70, or 3.2%, to 22,327.48, and the Nasdaq gained 271.77, or 3.6%, to 7,774.15.

“We have to look at this rally suspiciously,” said Sam Stovall, chief investment strategist for CFRA. He pointed to prior bear markets where stocks rallied more than 20% only to fall to new lows. A bear market is usually defined as a long-term decline of more than 20% for an investment.

“Granted, this bear is like no other,” he said. “There are too many uncertainties out there for the market masses to have concluded that March 23 was the ultimate bottom.”

Still, the 17.4% surge for stocks since last Monday has the first green shoots of optimism appearing.

Forced selling by investors needing to raise cash is easing, according to Morgan Stanley strategists. They say another pullback in stocks is likely, but current levels offer some buying points for investors willing to wait six to 12 months.

“Our base case is that the lows are in for this bear market for most stocks,” they wrote in a report.

Most investors say they expect markets to remain extremely volatile until the virus slows its spread. Until then, investors won’t know how long the economic downturn will ultimately last.

In a sign of increased caution, the yield on the 10-year Treasury fell to 0.70% from 0.74% late Friday.

Economists expect a number of weak reports on the economy to come in through the week. The lowlight will likely be Friday’s jobs report, where economists expect to see the steepest drop in the nation’s payrolls since the Great Recession.

The number of known infections around the world has topped 770,000, according to Johns Hopkins University. The United States has the highest number in the world, more than 150,000.

Most people who contract COVID-19 have mild or moderate symptoms, which can include fever and cough. But for others, especially older adults and people with existing health problems, the virus can cause pneumonia and require hospitalization.

More than 36,000 have died worldwide due to COVID-19, but more than 160,000 have also recovered.

502


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## bigdog

Stocks fell Tuesday to close out Wall Street’s worst quarter since the most harrowing days of the 2008 financial crisis.

The S&P 500 dropped a final 1.6%, bringing its loss for the first three months of the year to 20% as predictions for the looming recession caused by the coronavirus outbreak got even more dire. Stocks haven’t had this bad a quarter since the last time economists were talking about the worst downturn since the Great Depression, when the S&P 500 lost 22.6% at the end of 2008.

The surge of coronavirus cases around the world has sent markets to breathtaking drops since mid-February, undercutting what had been a good start to the year. Markets rose early in the quarter, and the S&P 500 set a record with expectations that the economy was accelerating due to calming trade wars and low interest rates around the world.

But benchmark U.S. crude oil dropped by roughly two thirds this quarter on expectations that a weakened economy will need less fuel. The yield on the 10-year Treasury dropped below 1% for the first time as investors scrambled for safety, and it ended the quarter at roughly 0.67%. Germany’s DAX lost a quarter of its value, and South Korean stocks fell just over 20%.

The big question is if markets will get worse. At this point, no one knows.

The S&P 500 fell 42.06 points to 2,584.59. The Dow Jones Industrial Average lost 410.32, or 1.8%, to 21,917.16, and the Nasdaq was off 74.05, or 1%, to 7,700.10.

The relatively modest moves are a big departure from earlier in the month, when huge swings punished investors. The S&P 500 had its worst day since Black Monday 1987 on March 12 with a 9.5% loss, for example, only to outdo itself with a 12% drop two trading days later. Sandwiched in between was a 9.3% surge.

The ASX 200 looks set to rebound this morning despite a poor night of trade on Wall Street. According to the latest SPI futures, the benchmark index is expected to jump 1.4% or 73 points higher at the open.










https://apnews.com/3202fcdaca70de058ce000723aa4fbc3

*Stocks fall, capping Wall Street’s worst quarter since 2008*
By STAN CHOE and DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Stocks fell Tuesday to close out Wall Street’s worst quarter since the most harrowing days of the 2008 financial crisis.

The S&P 500 dropped a final 1.6%, bringing its loss for the first three months of the year to 20% as predictions for the looming recession caused by the coronavirus outbreak got even more dire. Stocks haven’t had this bad a quarter since the last time economists were talking about the worst downturn since the Great Depression, when the S&P 500 lost 22.6% at the end of 2008.

The surge of coronavirus cases around the world has sent markets to breathtaking drops since mid-February, undercutting what had been a good start to the year. Markets rose early in the quarter, and the S&P 500 set a record with expectations that the economy was accelerating due to calming trade wars and low interest rates around the world.

But benchmark U.S. crude oil dropped by roughly two thirds this quarter on expectations that a weakened economy will need less fuel. The yield on the 10-year Treasury dropped below 1% for the first time as investors scrambled for safety, and it ended the quarter at roughly 0.67%. Germany’s DAX lost a quarter of its value, and South Korean stocks fell just over 20%.

The big question is if markets will get worse. At this point, no one knows.

“People are trying to digest the length and magnitude of what the coronavirus impact is going to be,” said George Rusnak, managing director of investment strategy at Wells Fargo Private Bank.

The steep drops from Tokyo to Toronto in recent weeks reflect investors’ understanding that the economy and corporate profits are in for a sudden, debilitating drop-off. Economies around the world are grinding to near standstills as businesses close their doors and people hunker down at home in hopes of slowing the spread of the virus.

But markets have also cut their losses in recent weeks on hopes that massive aid from governments and central banks around the world can blunt the blow. The S&P 500 was down nearly 31% for the quarter at one point, but it has climbed 15.5% since last Monday.

The Fed has promised to buy as many Treasurys as it takes to get lending markets working smoothly after trading got snarled in markets that help companies borrow short-term cash to make payroll, homebuyers get mortgages and local governments to build infrastructure. Congress, meanwhile, approved a $2.2 trillion rescue plan for the economy, and leaders are already discussing the possibility of another round of aid.

Whether markets have indeed found a bottom or whether investors have become too optimistic about the economic rebound coming after the viral outbreak peaks is impossible to say without knowing when the number of new infections will hit its peak.

“We’re kind of on this little milestone journey with markets,” said Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management Co. “First, we get the economic plan in place, then we have to start to see some of the containment actions pay off. At some point it’s going to be how do we get back to work.”

Among the next milestones for investors is Friday’s jobs report, which is expected to show a sharp drop in payrolls. Companies will also being reporting their earnings results for the first quarter in upcoming weeks, and analysts are looking for the steepest drop in profits since the start of 2016, according to FactSet.

The numbers may get even worse in the following quarter.

Goldman Sachs economists said Tuesday they expect the U.S. economy to shrink 34% in the second quarter, but they expect growth to rebound in the third quarter.

The S&P 500 fell 42.06 points to 2,584.59. The Dow Jones Industrial Average lost 410.32, or 1.8%, to 21,917.16, and the Nasdaq was off 74.05, or 1%, to 7,700.10.

The relatively modest moves are a big departure from earlier in the month, when huge swings punished investors. The S&P 500 had its worst day since Black Monday 1987 on March 12 with a 9.5% loss, for example, only to outdo itself with a 12% drop two trading days later. Sandwiched in between was a 9.3% surge.

The number of known coronavirus cases keeps rising, and the worldwide tally has topped 830,000, according to Johns Hopkins University. The United States has the highest number in the world, more than 170,000.

Most people who contract COVID-19 have mild or moderate symptoms, which can include fever and cough. But for others, especially older adults and people with existing health problems, the virus can cause pneumonia and require hospitalization. More than 41,000 have died worldwide due to COVID-19, while more than 175,000 have recovered.

We’re still not even close to peak coronavirus in the U.S. which has already reported more cases than any other country and will sadly likely see a huge spike in the number of deaths, meaning further lockdown measures will likely follow,” said Craig Erlam, senior market analyst at OANDA Europe. “Huge challenges still lie ahead.”

564


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## Boggo

bigdog said:


> ...
> 
> The S&P 500 dropped a final 1.6%, bringing its loss for the first three months of the year to 20% as predictions for the looming recession caused by the coronavirus outbreak got even more dire. Stocks haven’t had this bad a quarter since the last time economists were talking about the worst downturn since the Great Depression, when the S&P 500 lost 22.6% at the end of 2008.




I'm tracking the daily behaviour of the S&P 500 just for interest.
Another few days may be an interesting indicator of what's on the horizon as it's in an area of decision at the moment.

(click to expand)


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## bigdog

The Dow Jones Industrial Average lost 973,65, or 4.4%, to 20,943.51, and the Nasdaq composite fell 339.52, or 4.4%, to 7,360.58.

Wall Street and markets around the world fell sharply Wednesday as the economic and physical toll caused by the coronavirus outbreak mounts — and as experts say they still can’t predict when it will end.

The S&P 500 lost 4.4% after the White House said anywhere from 100,000 to 240,000 Americans could die from COVID-19, even if the country follows guidelines to avoid shopping trips, eating at restaurants and other activities through April. Florida’s governor became the latest to issue a statewide stay-at-home order.

Such restrictions have already deeply gashed the economy, and Whiting Petroleum, one of the biggest drillers in the Bakken shale formation, filed for Chapter 11 bankruptcy protection Wednesday, with the price of oil near $20 a barrel. Automakers also reported sharp drops in U.S. sales for March, including a 43% plunge for Hyundai. Mortgage applications tumbled 24% from year-ago levels as open houses are all but shut down.

"There is a lot of uncertainty," said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. "The negative news is really taking over."

The negative news was also global. Japanese stocks took some of the world’s heaviest losses, down 4.5%, after a survey of business sentiment there fell to its worst result in seven years. Britain’s FTSE 100 fell 3.8% after big banks there scrapped dividend payments, part of a worldwide effort by companies and households alike to conserve cash.

Stocks have plunged this year as the coronavirus pandemic forces economies into what is expected to be a steep, sudden recession. The S&P 500 just closed out its worst quarter since 2008 with a 20% loss.

“The challenge for investors is you don't know how deep and how wide this downturn may be," said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. “It ends up being a true leap of faith that the forecast and the duration of the pandemic will be accurate.”

The ASX 200 looks set to give back its gains on Thursday after a poor night of trade on Wall Street. According to the latest SPI futures, the benchmark index is expected to fall 147 points or 2.8% at the open.











https://www.usnews.com/news/busines...shares-skid-on-virus-worries-bleak-boj-survey

*Stocks Skid as Physical, Economic Toll of Virus Worsens*
Stocks fell sharply on Wall Street Wednesday as more signs piled up of the economic and physical pain being caused by the coronavirus outbreak.
By Associated Press, Wire Service Content April 1, 2020, at 4:30 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Wall Street and markets around the world fell sharply Wednesday as the economic and physical toll caused by the coronavirus outbreak mounts — and as experts say they still can’t predict when it will end.

The S&P 500 lost 4.4% after the White House said anywhere from 100,000 to 240,000 Americans could die from COVID-19, even if the country follows guidelines to avoid shopping trips, eating at restaurants and other activities through April. Florida’s governor became the latest to issue a statewide stay-at-home order.

Such restrictions have already deeply gashed the economy, and Whiting Petroleum, one of the biggest drillers in the Bakken shale formation, filed for Chapter 11 bankruptcy protection Wednesday, with the price of oil near $20 a barrel. Automakers also reported sharp drops in U.S. sales for March, including a 43% plunge for Hyundai. Mortgage applications tumbled 24% from year-ago levels as open houses are all but shut down.

"There is a lot of uncertainty," said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. "The negative news is really taking over."

The negative news was also global. Japanese stocks took some of the world’s heaviest losses, down 4.5%, after a survey of business sentiment there fell to its worst result in seven years. Britain’s FTSE 100 fell 3.8% after big banks there scrapped dividend payments, part of a worldwide effort by companies and households alike to conserve cash.

Stocks have plunged this year as the coronavirus pandemic forces economies into what is expected to be a steep, sudden recession. The S&P 500 just closed out its worst quarter since 2008 with a 20% loss.

“The challenge for investors is you don't know how deep and how wide this downturn may be," said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. “It ends up being a true leap of faith that the forecast and the duration of the pandemic will be accurate.”

A report on Wednesday said that private U.S. employers cut 27,000 jobs last month, which was actually much milder than economists were expecting. The survey used data from March before the number of people seeking unemployment benefits exploded to a record.

Even Friday's more comprehensive jobs report from the government may not show the full scale of the layoffs sweeping the country, according to Rhea Thomas, senior economist at Wilmington Trust. Small businesses are seeing the sharpest declines in employment, and some firms that closed may not be responding to the survey.

The government's weekly jobless claims report may offer a better view. The next batch of numbers comes Thursday, and economists say it could blow past last week's total of nearly 3.3 million initial claims, which itself was quintuple the prior record.

The number of infections keeps rising, which worsens the uncertainty. The United States has more than 206,000 cases, according to a tally by Johns Hopkins University. That leads the world, which has more than 911,000 confirmed cases.

For most people, the coronavirus causes mild or moderate symptoms, such as fever and cough that clear up in two to three weeks. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia, and death.

Stocks had cut some of their severe losses in recent weeks as Washington swooped in with aid for the economy and markets.

The S&P 500 jumped nearly 18% in just three days last week as Congress struck a deal on a $2.2 trillion rescue package for the economy and the Federal Reserve promised to buy as many Treasurys as it takes to get lending markets running smoothly.

House Democrats are already collecting ideas for a possible fourth round of aid for the economy, and Trump has tweeted his support for a $2 trillion infrastructure package. But top Republicans in Congress say they first want to see how well their just-approved programs do.

The S&P 500 fell 114.09 points to 2,470.50, and all 11 sectors that make up the index lower. Among the few gainers were Kellogg, Dollar General and other companies selling day-to-day essentials that households are stocking up on to ride out stay-at-home orders.

On the losing end was Macy's, whose drop Wednesday brought its loss for 2020 so far to nearly 74%. So much of the company's market value has vanished that S&P Dow Jones Indices is removing it from the S&P 500 index of big U.S. companies, skipping its index of mid-sized stocks and placing it into its small-stock index, effective Monday.

The market's hardest-hit areas included banks, utilities and other dividend payers.

“There are more worries now about this rippling through dividend payments and cutting back on the income investors are getting,” said Jeffrey Kleintop, chief global investment strategist at Charles Schwab.

The Dow Jones Industrial Average lost 973,65, or 4.4%, to 20,943.51, and the Nasdaq composite fell 339.52, or 4.4%, to 7,360.58.

The yield on the 10-year Treasury dropped to 0.60% from 0.70% late Tuesday. A bond’s yield drops when its price rises, and investors buy long-term Treasurys when they’re fearful because they see U.S. government bonds as having virtually no risk of default


----------



## bigdog

The S&P 500 rose 56.40 to 2,526.90. The Dow Jones Industrial Average gained 469.93, or 2.2%, to 21,413.44, and the Nasdaq rose 126.73, or 1.7%, to 7,487.31.

The S&P 500 was down as much as 0.6% earlier Thursday after the U.S. government reported that more than 6.6 million Americans applied for unemployment benefits last week. That’s double the prior week’s number, which itself was nearly five times the prior record set in 1982.

Wall Street rallied Thursday for its first gain in three days after a sudden surge in oil prices revived beaten-down energy stocks. But, as has so often been the case in this year's volatile market, it took a few U-turns to get there.

The price of crude spurted as much as 30% higher after President Donald Trump said he expects Russia and Saudi Arabia to back away from their price war, which erupted last month and helped drag U.S. oil to its lowest price in 18 years. The surge lifted energy stocks enough to pull the S&P 500 higher and outshine another dismal report showing that millions of Americans are joining the unemployment queue by the week.

But stocks and oil quickly pared much of their initial gains and then see-sawed through the day as markets weighed how seriously to take Trump’s statement, particularly after the Kremlin reportedly disputed part of his tweet, before climbing again to the close.

By the end of trading, the S&P 500 rose 2.3%, while U.S. oil was up $5.01, or 24.7%, after settling at $25.32 per barrel.

“Investors are just grasping at a positive straw here on a particular day," said Phil Orlando, chief equity market strategist at Federated Hermes. “The collapse in the energy market is creating a significant amount of additional pressure on the U.S. economy, not nearly as significant as the coronavirus, but significant nonetheless.”

The market’s focus has been on oil not just because its plunge to below $20 earlier this week from $60 at the start of the year has caused stocks in the industry to more than halve. Another worry is that heavily indebted oil companies will also be forced to default, which could cause more damage in the bond market where the total amount of debt has exploded.

_The ASX 200 index looks set to be a positive end to the week.  According to the latest SPI futures, the benchmark index is expected to jump 99 points or 2% at the open._










https://www.usnews.com/news/busines...tocks-mixed-as-economic-toll-of-virus-worsens

*Wall Street Rises for First Time in Three Days as Oil Spurts*
Wall Street climbed to its first gain in three days after strengthening oil prices revived beaten-down energy stocks.
By Associated Press, Wire Service Content April 2, 2020, at 5:22 p.m.

By STAN CHOE and DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Wall Street rallied Thursday for its first gain in three days after a sudden surge in oil prices revived beaten-down energy stocks. But, as has so often been the case in this year's volatile market, it took a few U-turns to get there.

The price of crude spurted as much as 30% higher after President Donald Trump said he expects Russia and Saudi Arabia to back away from their price war, which erupted last month and helped drag U.S. oil to its lowest price in 18 years. The surge lifted energy stocks enough to pull the S&P 500 higher and outshine another dismal report showing that millions of Americans are joining the unemployment queue by the week.

But stocks and oil quickly pared much of their initial gains and then see-sawed through the day as markets weighed how seriously to take Trump’s statement, particularly after the Kremlin reportedly disputed part of his tweet, before climbing again to the close.

By the end of trading, the S&P 500 rose 2.3%, while U.S. oil was up $5.01, or 24.7%, after settling at $25.32 per barrel.

“Investors are just grasping at a positive straw here on a particular day," said Phil Orlando, chief equity market strategist at Federated Hermes. “The collapse in the energy market is creating a significant amount of additional pressure on the U.S. economy, not nearly as significant as the coronavirus, but significant nonetheless.”

The market’s focus has been on oil not just because its plunge to below $20 earlier this week from $60 at the start of the year has caused stocks in the industry to more than halve. Another worry is that heavily indebted oil companies will also be forced to default, which could cause more damage in the bond market where the total amount of debt has exploded.

Producers have been continuing to pull oil from the ground to maintain their market share, even as demand for energy cratered because of widespread stay-at-home orders and other economy-damaging restrictions caused by the coronavirus outbreak. Trump tweeted Thursday that he hopes and expects cuts in production are coming after talking with Saudi Crown Prince Mohammed bin Salman.

That helped energy stocks in the S&P 500 rally 9.1%, by far the biggest gain among the 11 sectors that make up the index. Schlumberger jumped 10.2%, EOG Resources rose 10.7% and Occidental Petroleum leaped 18.9%, though all three remain down between 50% and 70% for the year.

“This is a knee-jerk reaction more than anything else,” said Willie Delwiche, investment strategist at Baird. “I don’t think it changes much of the bigger picture for what we’re going through in terms of economic uncertainty and trying to wrap our minds around the extent of the weakness we’re going to see.”

The S&P 500 rose 56.40 to 2,526.90. The Dow Jones Industrial Average gained 469.93, or 2.2%, to 21,413.44, and the Nasdaq rose 126.73, or 1.7%, to 7,487.31.

The S&P 500 was down as much as 0.6% earlier Thursday after the U.S. government reported that more than 6.6 million Americans applied for unemployment benefits last week. That’s double the prior week’s number, which itself was nearly five times the prior record set in 1982.

Roughly one of every 16 Americans in the workforce has applied for unemployment benefits in the last two weeks, and economists expect the number only to rise further. That has many investors bracing for what may be the worst recession of their lifetimes.

The number of confirmed cases worldwide has topped 1 million, led by the United States with more than 236,000, according to a tally by Johns Hopkins University.

For most people, the coronavirus causes mild or moderate symptoms, such as fever and cough that clear up in two to three weeks. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia, and death.

More than 51,000 have died, but over 208,000 have recovered.

Many investors expect markets to remain incredibly volatile until the number of new infections peaks, Only that can clear the uncertainty about how bad the upcoming downturn will be and how long it will last.

The S&P 500 is still down nearly 22% for 2020 so far, and investors are preparing for companies to soon begin reporting weaker profits from year-ago levels. Earnings reporting season for the first quarter kicks off in earnest in two weeks.

“The duration and impact of this virus remains unknown and volatility will remain the norm and not the exception,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.

“It’s hard to envision the market moving meaningfully higher until you get some visibility of where earnings are going to go,” he said.

To help cushion the blow, Congress last week agreed on a $2.2 trillion economic aid package and the Federal Reserve promised to buy as many Treasurys as needed to keep credit markets running smoothly.

The Fed’s moves in particular have helped improve trading in markets that provide lending to governments, hospitals, companies and other vital areas of the economy, investors say.

720


----------



## bigdog

The stock market’s first reaction to Friday’s stunningly bad jobs report was to take it in stride. But Wall Street slid through the day as investors looked ahead to the likelihood that even worse numbers are on the way.

Stocks initially held steady after the government said U.S. employers cut 701,000 more jobs than they added last month, the first drop in nearly a decade. Many businesses have slammed to a halt amid attempts to slow the spread of the coronavirus outbreak, and investors were fully expecting to see such abysmal numbers.

But the market headed lower as the day progressed and, as has become typical in recent Fridays, investors looked to get out of stocks ahead of the weekend, which could be filled with even more bad news. The losses accelerated after New York’s governor announced the biggest daily jump yet for deaths caused by the coronavirus in the country’s hardest-hit state.

“It was interesting to see that the initial reaction to the jobs number wasn’t more significant,” said Lindsey Bell, chief investment strategist at Ally Invest. “As that sunk in, you started to see the market start to sell off after realizing that these numbers are going to get a lot uglier.”

The S&P 500 fell 38.25 points, or 1.5%, to 2,488.65. The Dow Jones Industrial Average fell 360.91 points, or 1.7%, to 21,052.53, and the Nasdaq was down 114.23, or 1.5%, to 7,373.08. Small-company stocks fell far more than the rest of the market. The Russell 2000 index lost 33.76 points, or 3.1%, to 1,052.05.

Potentially scary events on the calendar include Thursday’s weekly report on applications for unemployment benefits, which has been the closest thing to a real-time measure of how ferociously layoffs have swept the country. Companies will also soon begin reporting their profit results for the first three months of the year, with reporting season beginning in earnest in two weeks. Next month’s jobs report may even show the economy has wiped away the last of the 22.8 million jobs created during its nearly decade-long hiring streak.

Friday’s jobs report likely didn't fully capture the extent of the recent job losses, which have been accelerating by the day, because it collected data from before stay-at-home orders were widespread.

The S&P 500 is down 26.5% since its record set in February, reflecting the growing assumption that the economy is set to slide into a sudden, extremely sharp recession.

This past week, the S&P 500 lost 2.1%, a milder swing than the 10.3% surge and 15% drop of the prior two weeks.










One Month Chart










https://www.usnews.com/news/busines...tumble-after-wall-street-rises-on-pricier-oil

*Stocks Drop as Coronavirus Crunches the Job Market, Economy*
Stocks fell Friday following the latest grim reading of the coronavirus outbreak's economic toll.
By Associated Press, Wire Service Content April 3, 2020, at 4:40 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — The stock market’s first reaction to Friday’s stunningly bad jobs report was to take it in stride. But Wall Street slid through the day as investors looked ahead to the likelihood that even worse numbers are on the way.

Stocks initially held steady after the government said U.S. employers cut 701,000 more jobs than they added last month, the first drop in nearly a decade. Many businesses have slammed to a halt amid attempts to slow the spread of the coronavirus outbreak, and investors were fully expecting to see such abysmal numbers.

But the market headed lower as the day progressed and, as has become typical in recent Fridays, investors looked to get out of stocks ahead of the weekend, which could be filled with even more bad news. The losses accelerated after New York’s governor announced the biggest daily jump yet for deaths caused by the coronavirus in the country’s hardest-hit state.

“It was interesting to see that the initial reaction to the jobs number wasn’t more significant,” said Lindsey Bell, chief investment strategist at Ally Invest. “As that sunk in, you started to see the market start to sell off after realizing that these numbers are going to get a lot uglier.”

The S&P 500 fell 38.25 points, or 1.5%, to 2,488.65. The Dow Jones Industrial Average fell 360.91 points, or 1.7%, to 21,052.53, and the Nasdaq was down 114.23, or 1.5%, to 7,373.08. Small-company stocks fell far more than the rest of the market. The Russell 2000 index lost 33.76 points, or 3.1%, to 1,052.05.

Potentially scary events on the calendar include Thursday’s weekly report on applications for unemployment benefits, which has been the closest thing to a real-time measure of how ferociously layoffs have swept the country. Companies will also soon begin reporting their profit results for the first three months of the year, with reporting season beginning in earnest in two weeks. Next month’s jobs report may even show the economy has wiped away the last of the 22.8 million jobs created during its nearly decade-long hiring streak.

Friday’s jobs report likely didn't fully capture the extent of the recent job losses, which have been accelerating by the day, because it collected data from before stay-at-home orders were widespread.

“There is far worse to come,” said Eric Winograd, senior economist at AllianceBernstein.

Most of all, investors will be watching the number of new coronavirus cases. Only the peak in that can give some clarity on how long the economic downturn will last and how deep it will be.

“The worry is, there’s just too much uncertainty,” said Mark Hackett, chief of investment research for Nationwide.

The S&P 500 is down 26.5% since its record set in February, reflecting the growing assumption that the economy is set to slide into a sudden, extremely sharp recession.

The panic selling that dominated the first few weeks of the sell-off has eased a bit since Washington unleashed massive amounts of aid to help markets and the economy. The Federal Reserve has promised to buy as many Treasury securities as it takes to keep lending markets running smoothly, and Congress approved a $2.2 trillion rescue plan for the economy.

“Together, these actions are staggering and unprecedented and will go some distance toward helping to cushion the economic blow of this health crisis and help get the country to the other side,” said Rick Rieder, chief investment officer of global fixed income at BlackRock.

This past week, the S&P 500 lost 2.1%, a milder swing than the 10.3% surge and 15% drop of the prior two weeks.

The United States has more than 266,000 confirmed cases of the virus, which leads the worldwide tally of more than 1 million compiled by Johns Hopkins University.

For most people, the coronavirus causes mild or moderate symptoms, such as fever and cough. But for others, especially older adults and people with health problems, it can cause more severe illness, including pneumonia, and death.

More than 58,000 people have died, but over 225,000 have recovered.

Businesses that were just hanging on before the outbreak because of the then-strong economy may not survive. Retail chains and malls in particular are under threat, said Peter Essele, head of portfolio management for Commonwealth Financial Network.

“It’s a bit of a brush fire that we’re going to get,” he said. “The strong will survive on the other end of this.”

Markets got a bit of a lift Friday from another gain in oil prices.

Benchmark U.S. crude climbed 11.9% to $28.34 per barrel, adding on to its nearly 25% surge the prior day on expectations that Saudi Arabia and Russia may dial back their price war. Brent crude oil, the international standard, rose $4.17 to $34.11 a barrel.

The world is awash in oil as demand for energy collapses, and President Donald Trump said Thursday that the rivals may be close to cutting back on production to prop up oil’s price.

Whether oil-producing countries actually follow through on that adds just one more layer of uncertainty for the market.

5788


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## bigdog

*ASX 200 expected to rise.   *
Wall Street may have finished the week on a subdued note, but that doesn’t look likely to stop the S&P/ASX 200 index from pushing higher this morning. According to the latest SPI futures, the index is expected to open the week 46 points or 0.9% higher.


----------



## bigdog

Investors grabbed hold of a few glimmers of hope Monday that the coronavirus pandemic could be slowing and sent stocks surging in a worldwide rally, capped by a 7% leap for the U.S. market.

The number of new coronavirus cases is dropping in the European hotspots of Italy and Spain. The center of the U.S. outbreak, New York, also reported its number of daily deaths has been effectively flat for two days. Even though the U.S. is still bracing for a surge of deaths due to COVID-19 and New York’s governor said restrictions should stay in place to slow its spread, the encouraging signs were enough to launch the S&P 500 to its best day in nearly two weeks.

“We’re running on raw optimism, maybe that’s the best way to put it,” said Randy Frederick, vice president of trading and derivatives at Schwab Center for Financial Research.

The S&P 500′s gains accelerated throughout the day, and markets in Europe and Asia rose nearly as much. In another sign that investors are feeling a bit less pessimistic about the economy’s path, they sold bonds. The yield on the 10-year Treasury rose for the first time in four days.

Investors have been waiting anxiously for signs that the rate of new infections may hit its peak, which would give some clarity about how long the upcoming recession will last and how deep it will be. Without that, markets have been guessing about how long businesses will remain shut down, companies will lay off workers and flights remain canceled due to measures meant to slow the speed of the outbreak.

The S&P 500 climbed 175.03, or 7%, to 2,663.68, and nearly all the stocks in the index were higher. It more than recovered all its losses from the prior week, when the government reported a record number of layoffs sweeping the economy.

The Dow Jones Industrial Average shot up 1,627.46 points, or 7.7%, to 22,679.99, and the Nasdaq rose 540.15, or 7.3%, to 7,913.24.

The latest gains are not likely to have much staying power, given how much uncertainty remains about when the pandemic will subside significantly and how much harm will have been inflicted to the economy, said Nela Richardson, investment strategist at Edward Jones.

*ASX 200 expected to surge higher.*
It looks set to be another very positive day of trade for the ASX after Wall Street stormed higher after new coronavirus cases appeared to slow. According to the latest SPI futures, the index is expected to jump 114 points or 2.2% at the open.










https://apnews.com/44c94e404b1bed4aef2ed1bbdcb4274c

*Wall Street leaps 7%, markets rally worldwide on virus hopes*
By STAN CHOE and ALEX VEIGA

NEW YORK (AP) — Investors grabbed hold of a few glimmers of hope Monday that the coronavirus pandemic could be slowing and sent stocks surging in a worldwide rally, capped by a 7% leap for the U.S. market.

The number of new coronavirus cases is dropping in the European hotspots of Italy and Spain. The center of the U.S. outbreak, New York, also reported its number of daily deaths has been effectively flat for two days. Even though the U.S. is still bracing for a surge of deaths due to COVID-19 and New York’s governor said restrictions should stay in place to slow its spread, the encouraging signs were enough to launch the S&P 500 to its best day in nearly two weeks.

“We’re running on raw optimism, maybe that’s the best way to put it,” said Randy Frederick, vice president of trading and derivatives at Schwab Center for Financial Research.

The S&P 500′s gains accelerated throughout the day, and markets in Europe and Asia rose nearly as much. In another sign that investors are feeling a bit less pessimistic about the economy’s path, they sold bonds. The yield on the 10-year Treasury rose for the first time in four days.

Investors have been waiting anxiously for signs that the rate of new infections may hit its peak, which would give some clarity about how long the upcoming recession will last and how deep it will be. Without that, markets have been guessing about how long businesses will remain shut down, companies will lay off workers and flights remain canceled due to measures meant to slow the speed of the outbreak.

“The virus is not everything, it’s the only thing, and nothing else really matters” to the markets, Frederick said, particularly in a week that is relatively light on economic reports.

The S&P 500 climbed 175.03, or 7%, to 2,663.68, and nearly all the stocks in the index were higher. It more than recovered all its losses from the prior week, when the government reported a record number of layoffs sweeping the economy.

The Dow Jones Industrial Average shot up 1,627.46 points, or 7.7%, to 22,679.99, and the Nasdaq rose 540.15, or 7.3%, to 7,913.24.

The latest gains are not likely to have much staying power, given how much uncertainty remains about when the pandemic will subside significantly and how much harm will have been inflicted to the economy, said Nela Richardson, investment strategist at Edward Jones.

“It’s not unusual, if you look back historically, within bear markets to have rallies,” Richardson said. “I wouldn’t take the uptick over the last two weeks as a sign of a bottoming or a sign of upside recovery from here on out. There’s still a lot of uncertainty to get through even as we’re hopefully nearing the peak in terms of new coronavirus cases.”

The S&P 500 is still down more than 21% since its record set in February, but the losses have been slowing since Washington promised massive amounts of aid to prop up the economy.

“Since this is a public health crisis, the response has been extreme,” Morgan Stanley strategists wrote in a report. “There are literally no governors on the amount of monetary or fiscal stimulus that will be used in this fight.”

In Japan, the prime minister said he’s preparing to announce a 108 trillion yen ($1 trillion) package to bolster the world’s third-largest economy. It would be Japan’s largest-ever package for the economy and nearly twice as much as expected.

Japan’s economy was already shrinking late last year before the outbreak forced the global economy into a protective coma induced by health authorities.

The announcement pushed Japan’s Nikkei 225 index to surge 4.2%. Elsewhere in Asia, South Kora’s Kospi jumped 3.9%, and Hong Kong’s Hang Seng rose 2.2%.

In Europe, Germany’s DAX rose 5.8% and France’s CAC 40 jumped 4.6%. The FTSE 100 in London rose 3.1%.

The yield on the 10-year Treasury yield rose to 0.67% from 0.58% late Friday. Yields tend to rise when investors are raising their expectations for economic growth and inflation.

Crude oil fell, giving up some of its huge gains from the prior week when expectations rose that Saudi Arabia and Russia may cut back on some of their production.

Demand for oil has plummeted due to the weakening economy, and any cutback in production would help prop up its price. A meeting between OPEC, Russia and other producers initially planned for Monday, though, was reportedly pushed back to Thursday.

Benchmark U.S. crude fell $2.26, or 8%, to settle as $26.08 a barrel after surging nearly $7 last week. It started the year above $60 per barrel. Brent crude, the international standard, lost $1.06, or 3.1%, to $33.05 a barrel.


----------



## bigdog

A big rally on Wall Street suddenly vanished Tuesday, the latest twist for a market dominated by sharp swings amid the coronavirus outbreak.

The S&P 500 dipped 0.2% after erasing a surge of 3.5% earlier in the day. The market’s gains faded as the price of U.S. crude oil abruptly flipped from a gain to a steep loss of more than 9%.

It dampened what had been an ebullient day for markets worldwide. European and Asian markets rallied earlier, following up on Monday’s 7% surge for the S&P 500 on encouraging signs that the coronavirus pandemic may be close to leveling off in some of the hardest-hit areas of the world.

Even though economists say a punishing recession is inevitable, some investors have begun to look ahead to when economies will reopen from their medically induced coma. A peak in new infections would offer some clarity about how long the recession may last and how deep it will be.

Investors could then, finally, envision the other side of the economic shutdown, after authorities forced businesses to halt in hopes of slowing the spread of the virus. In the meantime, governments around the world are talking about pumping trillions of dollars more of aid for the economy.

Many professional investors say they’ve been wary of the recent upsurge and expect more volatility ahead. The S&P 500 has rallied nearly 19% since hitting a low on March 23, though it’s still down 21.5% from its record set in February.

The S&P 500 fell 4.27 points to 2,659.41. The Dow Jones Industrial Average slipped 26.13 points, or 0.1%, to 22,653.86 after losing an earlier gain of 937 points. The Nasdaq composite dropped 25.98, or 0.3%, to 7,887.26.

*ASX 200 poised to fall.        *
The S&P/ASX 200 index looks set to drop lower again on Wednesday. According to the latest SPI futures, the benchmark index is expected to fall 41 points or 0.8% at the open.










https://www.usnews.com/news/busines...rise-echoing-wall-st-optimism-on-virus-battle

*A Stock Rally Fizzles Out on Wall Street; Oil Prices Plunge*
A big rally on Wall Street suddenly vanished Tuesday in the latest twist for a market dominated by sharp swings amid the coronavirus outbreak.
By Associated Press, Wire Service Content April 7, 2020, at 5:32 p.m. 

By STAN CHOE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — A big rally on Wall Street suddenly vanished Tuesday, the latest twist for a market dominated by sharp swings amid the coronavirus outbreak.

The S&P 500 dipped 0.2% after erasing a surge of 3.5% earlier in the day. The market’s gains faded as the price of U.S. crude oil abruptly flipped from a gain to a steep loss of more than 9%.

It dampened what had been an ebullient day for markets worldwide. European and Asian markets rallied earlier, following up on Monday’s 7% surge for the S&P 500 on encouraging signs that the coronavirus pandemic may be close to leveling off in some of the hardest-hit areas of the world.

Even though economists say a punishing recession is inevitable, some investors have begun to look ahead to when economies will reopen from their medically induced coma. A peak in new infections would offer some clarity about how long the recession may last and how deep it will be.

Investors could then, finally, envision the other side of the economic shutdown, after authorities forced businesses to halt in hopes of slowing the spread of the virus. In the meantime, governments around the world are talking about pumping trillions of dollars more of aid for the economy.

Many professional investors say they’ve been wary of the recent upsurge and expect more volatility ahead. The S&P 500 has rallied nearly 19% since hitting a low on March 23, though it’s still down 21.5% from its record set in February.

“It’s important to remember we shouldn’t over-extrapolate temporary trends,” said Patrick Schaffer, global investment specialist at J.P. Morgan Private Bank.

Such concerns were borne out in Tuesday's trading, when the S&P 500 swung up, down, up, down and back up again through the day.

“We are still in what you would call the relief rally off of the prior low,” said Sam Stovall, chief investment strategist at CFRA. He noted that this kind of a rally is common within deep bear markets, Wall Street-speak for when stocks decline 20% or more from a peak.

“There’s no guarantee that the worst is behind us, yet traders believe that at least there is some short-term money to be made,” Stovall said.

The S&P 500 fell 4.27 points to 2,659.41. The Dow Jones Industrial Average slipped 26.13 points, or 0.1%, to 22,653.86 after losing an earlier gain of 937 points. The Nasdaq composite dropped 25.98, or 0.3%, to 7,887.26.

Oil prices have been even more volatile than the stock market in recent weeks as demand has dried up for energy amid a global economy weakened by the coronavirus outbreak. Russia and Saudi Arabia have also been locked in a price war, refusing to cut production sharply even as the world is awash in excess oil.

President Donald Trump said last week that he hoped and expected the two sides could agree on production cutbacks, which helped prices spurt higher temporarily. But investors still aren’t convinced about a deal, and benchmark U.S. crude oil fell $2.45, or 9.4%, to settle at $23.63 per barrel. Brent crude, the international standard, fell $1.18 to $31.87 per barrel.

Its decline is another reminder of how many people are no longer driving to work, flying to meetings or heading to the store amid the economic shutdown. And the hangover could last for a while.

“It’s very hard today to envision baseball stadiums in June filled with people drinking beer and watching games," said J.P. Morgan Private Bank's Schaffer. "People today don’t anticipate that the economy is going to turn back on like a light switch, but rather that it will be a gradual reopening of certain parts of the economy.”

Experts say more deaths are on the way due to COVID-19, which has already claimed at least 81,000 lives around the world. The U.S. leads the world in confirmed cases with more than 386,000, according to a tally by Johns Hopkins University.

More economic misery is also on the horizon. Economists expect a report on Thursday to show that 5 million Americans applied for unemployment benefits last week as layoffs sweep the country. That would bring the total to nearly 15 million over the past three weeks. Analysts also expect big companies in upcoming weeks to report their worst quarter of profit declines in more than a decade.

But investors have grabbed onto some glimmers of optimism. China, the first country to lock down wide swaths of its economy to slow the spread of the virus, reported no new deaths over the past 24 hours. Many experts are skeptical of China’s virus figures, but investors also see signals that the number of daily infections and deaths may be close to peaking or plateauing in Spain, Italy and New York.

Central banks and governments are promising massive amounts of aid to prop up the economy.

Japan’s government on Tuesday formally announced a 108 trillion yen ($1 trillion) package for the world’s third-largest economy.

In the U.S., the White House is seeking an additional $250 billion for a program to help small businesses, which was part of the $2.2 trillion rescue package Congress approved last month.

In Europe, Germany’s DAX jumped 2.8%, and France’s CAC 40 rose 2.1%. The FTSE 100 in London added 2.2%. In Asia, Japan’s Nikkei 225 rose 2%, South Korea’s Kospi gained 1.8% and the Hang Seng in Hong Kong was up 2.1%.

In a signal that investors are feeling less pessimistic about the economy and inflation, they pushed the yield of the 10-year Treasury up to 0.72% from 0.67% late Monday.


----------



## bigdog

Stocks shot to a 3.4% gain on Wall Street Wednesday as investors chose to focus on the optimistic side of data about the coronavirus outbreak’s trajectory.

It’s the latest about-face in this brutally volatile stretch for the U.S. stock market, which has flip-flopped from gains to losses for six straight days. Just a day before, stocks had been headed for a similar gain only for it to vanish in the last minutes of trading.

The market's upward swings have recently been bigger than the down moves, though, amid signs that deaths and infections may be nearing a peak or plateau in some of the world’s hardest-hit areas. That's led some investors to envision the other side of the economic shutdown that is gripping the world as authorities try to slow the spread of the virus. The S&P 500 has jumped nearly 23% in the last two and a half weeks, building on earlier gains driven by massive amounts of aid promised by governments and central banks for the economy and markets.

Many analysts say they’re skeptical of the rally given how much uncertainty still remains. The death toll continues to rise, millions of people are still losing their jobs by the week and the economic pain is worldwide. France’s central bank said its economy entered a recession with a 6% drop in the first three months of the year.

But optimism rose in the market Wednesday after Dr. Anthony Fauci, the top U.S. infectious diseases expert, said the White House is working on plans to eventually reopen the country. President Donald Trump later said it “will be sooner rather than later.”

“It’s positive that people are talking about reopening the economy,” said Jeff Buchbinder, equity strategist for LPL Financial. “The White House has been talking about that. The more we can focus on what the economy will look like several months out, the better it will be for markets.”

The S&P 500 climbed 90.57 points, or 3.4%, to 2,749.98. For some investors, its rally of more than 20% since March 23 means a new “bull market” has been born. Others, though, want to see the gains hold for six months before confirming a new bull market.

The Dow Jones Industrial Average rose 779.71 points, or 3.4%, to 23,433.57 and the Nasdaq was up 203.64, or 2.6%, to 8,090.90.

Stocks that have been beaten down the most since the sell-off began in February helped lead the way, including energy companies, retailers and travel-related companies.

*ASX 200 expected to storm higher.           *
The S&P/ASX 200 index looks set to storm higher on Thursday. According to the latest SPI futures, the benchmark index is expected to jump 47 points or 0.9% at the open.










https://www.usnews.com/news/busines...hares-mostly-lower-japan-gains-on-upbeat-data

*Wall Street Jumps 3.4%, Actually Holds on This Time*
Stocks shot to a 3.4% gain on Wall Street Wednesday as investors chose to focus on the optimistic side of data about the coronavirus outbreak’s trajectory.
By Associated Press, Wire Service Content April 8, 2020, at 5:09 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Stocks shot to a 3.4% gain on Wall Street Wednesday as investors chose to focus on the optimistic side of data about the coronavirus outbreak’s trajectory.

It’s the latest about-face in this brutally volatile stretch for the U.S. stock market, which has flip-flopped from gains to losses for six straight days. Just a day before, stocks had been headed for a similar gain only for it to vanish in the last minutes of trading.

The market's upward swings have recently been bigger than the down moves, though, amid signs that deaths and infections may be nearing a peak or plateau in some of the world’s hardest-hit areas. That's led some investors to envision the other side of the economic shutdown that is gripping the world as authorities try to slow the spread of the virus. The S&P 500 has jumped nearly 23% in the last two and a half weeks, building on earlier gains driven by massive amounts of aid promised by governments and central banks for the economy and markets.

Many analysts say they’re skeptical of the rally given how much uncertainty still remains. The death toll continues to rise, millions of people are still losing their jobs by the week and the economic pain is worldwide. France’s central bank said its economy entered a recession with a 6% drop in the first three months of the year.

But optimism rose in the market Wednesday after Dr. Anthony Fauci, the top U.S. infectious diseases expert, said the White House is working on plans to eventually reopen the country. President Donald Trump later said it “will be sooner rather than later.”

“It’s positive that people are talking about reopening the economy,” said Jeff Buchbinder, equity strategist for LPL Financial. “The White House has been talking about that. The more we can focus on what the economy will look like several months out, the better it will be for markets.”

The S&P 500 climbed 90.57 points, or 3.4%, to 2,749.98. For some investors, its rally of more than 20% since March 23 means a new “bull market” has been born. Others, though, want to see the gains hold for six months before confirming a new bull market.

The Dow Jones Industrial Average rose 779.71 points, or 3.4%, to 23,433.57 and the Nasdaq was up 203.64, or 2.6%, to 8,090.90.

Stocks that have been beaten down the most since the sell-off began in February helped lead the way, including energy companies, retailers and travel-related companies.

Gap rose 12.6%, United Airlines gained 12.4% and Diamondback Energy was up 13.5% as investors envisioned people shopping again at stores, flying for vacations and driving to the office once stay-at-home orders are relaxed. All three, though, are still down more than 50% for 2020 so far.

Shares of health insurers and other stocks got an extra boost after Bernie Sanders suspended his presidential campaign. Investors had been wary of Sanders’ proposal of “Medicare For All” and other plans that could have restricted profits.

UnitedHealth rose 8% after being down in the morning, and Anthem jumped 10.3%.

Another bounce came in the afternoon after the Federal Reserve released minutes from its meeting last month, where it slashed short-term interest rates back to nearly zero. The minutes confirmed expectations that the Fed will do “whatever it takes” to support markets, according to Bob Miller, head of Americas fundamental fixed income at BlackRock.

Uncertainty, though, is still the dominant force in markets. The World Trade Organization said global trade could fall anywhere from 13% to 32% this year. The wide range was due to how unpredictable the pandemic is.

Companies are also preparing to report their financial results for the first three months of the year in upcoming weeks. The numbers are likely to be bleak, but investors don’t know how long that will last. McDonald’s on Wednesday pulled its forecast for restaurant growth and other measures for 2020 and the long term, citing the uncertainty created by the pandemic.

In Europe, stocks dipped after finance ministers clashed over a proposal to collectively combat the health crisis. Asian markets ended mixed.

Benchmark U.S. crude oil rose $1.46, or 6.2%, to settle at $25.09 a barrel, recovering some of its 9.4% slide from the prior day. Oil prices have been even more volatile than stocks recently as Russia and Saudi Arabia argue about production levels in the face of withering demand. Oil producers are set to meet on Thursday, and an announcement for production cuts to prop up the price of crude is possible.

Brent crude oil, the international standard, rose 97 cents, or 3%, to $32.84 a barrel.

The prospect for progress in oil talks was one of the bigger drivers of Wednesday's rally, along with the signs of virus infections leveling off in several global hotspots and increased clarity in the U.S. presidential race, said Adam Taback, chief investment officer for Wells Fargo Private Bank.

Treasury yields, which signaled worries about the economic damage coming from the coronavirus outbreak earlier than the stock market, were relatively steady. The yield on the 10-year Treasury rose to 0.76% from 0.73% late Tuesday.

More than 1.4 million cases of COVID-19 have been confirmed around the world, with more than 419,000 of them in the United States. More than 87,000 people have died from the virus, while over 317,000 have recovered, according to a tally by Johns Hopkins University.

6082


----------



## bigdog

Wall Street closed out its best week in 45 years on Thursday after the Federal Reserve launched its latest titanic effort to support the economy through the coronavirus outbreak.

The central bank announced programs to provide up to $2.3 trillion in loans to households, local governments and businesses as the country tips into what economists say may be the worst recession in decades. It’s the latest unprecedented move by the Fed, which has rushed to ensure cash gets to parts of the economy that need it after markets got snarled by a rush of investors pulling cash out of the system.

The stock market is not the economy, and that distinction has become even more clear this week. The S&P 500 rose 1.4% Thursday, the same day the government announced 6.6 million Americans applied for unemployment benefits last week as layoffs sweep the nation. For the week, the S&P 500 jumped 12.1%, its best performance since late 1974. Markets will be closed for Good Friday.

Stock investors are continuously looking ahead to where the economy will be a few months or more in the future. From mid-February through late March, they sent stocks down by a third on expectations that a steep recession was imminent, before the economy really began to crunch.

In the last few weeks, though, investors have sent the market back up nearly 25% following promises for massive aid from the Fed, other central banks and governments around the world, even as evidence piles up that the recession fears were prescient. This week, some investors have begun to look ahead to the economy possibly reopening amid signs the outbreak may be peaking or plateauing in several of the world’s hardest hit areas.

”The market is solely focused on the number of cases,” said Quincy Krosby, chief market strategist at Prudential Financial. “The question is when can the restrictions be lifted? That’s what the market is focused on, when does America open up for business again?”

The S&P 500 rose 39.84 points to 2,789.82. The Dow Jones Industrial Average added 285.80, or 1.2%, to 23,719.37, and the Nasdaq climbed 62.67, or 0.8%, to 8,153.58..










*One Month Chart*










https://www.usnews.com/news/busines...mostly-higher-lockdown-feud-drags-tokyo-lower

*Wall Street Caps Best Week Since 1974 on Latest Fed Stunner*
Wall Street closed out its best week in 45 years on Thursday after the Federal Reserve launched its latest titanic effort to support the economy through the coronavirus outbreak.
By Associated Press, Wire Service Content April 9, 2020, at 5:42 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Wall Street closed out its best week in 45 years on Thursday after the Federal Reserve launched its latest titanic effort to support the economy through the coronavirus outbreak.

The central bank announced programs to provide up to $2.3 trillion in loans to households, local governments and businesses as the country tips into what economists say may be the worst recession in decades. It’s the latest unprecedented move by the Fed, which has rushed to ensure cash gets to parts of the economy that need it after markets got snarled by a rush of investors pulling cash out of the system.

The stock market is not the economy, and that distinction has become even more clear this week. The S&P 500 rose 1.4% Thursday, the same day the government announced 6.6 million Americans applied for unemployment benefits last week as layoffs sweep the nation. For the week, the S&P 500 jumped 12.1%, its best performance since late 1974. Markets will be closed for Good Friday.

Stock investors are continuously looking ahead to where the economy will be a few months or more in the future. From mid-February through late March, they sent stocks down by a third on expectations that a steep recession was imminent, before the economy really began to crunch.

In the last few weeks, though, investors have sent the market back up nearly 25% following promises for massive aid from the Fed, other central banks and governments around the world, even as evidence piles up that the recession fears were prescient. This week, some investors have begun to look ahead to the economy possibly reopening amid signs the outbreak may be peaking or plateauing in several of the world’s hardest hit areas.

”The market is solely focused on the number of cases,” said Quincy Krosby, chief market strategist at Prudential Financial. “The question is when can the restrictions be lifted? That’s what the market is focused on, when does America open up for business again?”

The S&P 500 rose 39.84 points to 2,789.82. The Dow Jones Industrial Average added 285.80, or 1.2%, to 23,719.37, and the Nasdaq climbed 62.67, or 0.8%, to 8,153.58..

Many professional investors have been skeptical of the rally, saying there is still too much uncertainty. They say predictions for a relatively quick economic rebound are overly optimistic, and the head of the International Monetary Fund said Thursday the global economy is set for its deepest recession since the Great Depression..

While hopes are building that a plateau may be arriving for infections in several hotspots, it’s not assured. In the meantime, businesses continue to shut down and one in 10 U.S. workers has lost their jobs in the last three weeks.

”You typically have very strong rebounds, even in a bear market,” Krosby said of markets where stocks have fallen more than 20%. “The question is whether or not we see selling into this rebound, or can we continue to build on it.”

The market’s big gains this week have been somewhat tentative. On Tuesday, the S&P 500 charged to an early 3.5% gain before it disappeared in the final minutes of trading. On Thursday, the index nearly gave up all of an early 2.5% gain, paring it down to 0.5% before climbing again in the last hour of trading.

Such volatility has become routine in markets at the end of each week recently.

“People are a little nervous to hold risk going into the weekend, especially a 72-hour weekend,” said J.J. Kinahan, chief strategist with TD Ameritrade.

The afternoon’s fade also coincided with another abrupt downdraft in the price of oil. Benchmark U.S. crude oil fell $2.33, or 9.3%, to settle at $22.76 per barrel after investors learned that Russia and members of OPEC had reached a preliminary agreement to reduce production by 10 million barrels a day — far short of what would be needed to offset the steep decline in demand because of the coronavirus shutdowns, said Dave Ernsberger, global head of commodities pricing at S&P Global Platts.

“What this was is a case of spectacular disappointment,” Ernsberger said. “In the oil market today, 20 million barrels of oil demand just got blown off the face of the Earth by the coronavirus. It’s gone, and they can’t even begin to paper over that with what they agreed on today.”

Brent crude fell $1.36, or 4.1%, to $31.48 per barrel.

The Fed’s immense programs announced Thursday touch far-reaching corners of lending markets, and if they continue for the long term, they could eventually lead to market bubbles.

But in the short term, “what the Fed is doing is great and helping markets function and providing liquidity so investors can do what they need (and) want to do,” said Warren Pierson, deputy chief investment officer at Baird Advisors.

The programs even include bonds for companies that have weak enough credit ratings to be called “junk,” or speculative grade.

Worries have been high about the ballooning amount of corporate debt concentrated at the bottom edge of high-quality “investment grade.” The looming recession could push a lot of that into “junk” status, which would force many investors to sell it because they’re required to hold only investment-grade bonds. A run from such bonds could trigger sell-offs in other areas of the market and lead to even more pain across the economy.

Also in the Fed’s programs are municipal bonds, which allow cities and state governments to raise cash. On a normal day, trading in the market might see 15 buyers make a bid for a particular bond. But as recently as a few weeks ago, there were 15 sellers for every buyer, according to Gabe Diederich, portfolio manager at Wells Fargo Asset Management.

All the difficulty in selling caused prices to tumble more than they otherwise should, even for high-quality bonds. That makes it more difficult for local governments to borrow.

159


----------



## bigdog

Stocks fell on Wall Street Monday, erasing some of the market’s big gains from last week, as investors braced for a sobering first look at how the coronavirus pandemic has hurt company earnings.

The S&P 500 fell 1% after cutting its early losses by more than half toward the end of the day. The benchmark index surged 12% last week, its best gain since 1974.

The pullback followed news over the weekend that OPEC, Russia and other oil producing nations have agreed to cut output in a bid to stem a slide in crude prices following a collapse in demand due to the outbreak.

Financial, industrial and health care stocks took some of the heaviest selling. Amazon and a few other retailers were bright spots. Traders continued to watch for more signs that the coronavirus outbreak may be leveling off and what that could mean for the prospects of reopening the economy.

Cautious optimism that the outbreak has begun to plateau in some of the worst-hit areas and another big infusion of economic support by the Federal Reserve helped spur last week’s big rally. This week, stocks could be in for more volatility as companies report results for the first quarter, though analysts will be focused primarily on what management teams have to say about what the rest of the year looks like.

Details may be hard to come by, as many companies have ceased giving earnings forecasts because of the uncertainty over when government officials will determine it's safe to roll back the social distancing and stay-at-home mandates that have all but ground the economy to a halt.

“The companies don’t know what demand is going to be over the next three months or over the next six months,” said Willie Delwiche, investment strategist at Baird.

The S&P lost 28.19 points to 2,761.63. The Dow Jones Industrial Average fell 328.60 points, or 1.4%, to 23,390.77. The index had been down 624 points. The Nasdaq reversed an early slide and rose 38.85 points, or 0.5%, to 8,192.42. The Russell 2000 index of smaller company stocks lost 34.68 points, or 2.8%, to 1,212.04.

European markets were closed for a holiday, and Asian markets ended mostly lower.

*ASX 200 expected to open flat.*
The S&P/ASX 200 index will return from the Easter break this morning and is expected to trade flat. Current SPI futures are pointing to the market remaining unchanged at the open.
*
New York Trading Monday*





*Easter Monday Holidays*





*Mostly Trading Monday except NZ*





https://www.usnews.com/news/busines...s-fall-oil-gains-after-opec-plus-strikes-deal

*Stocks Fall as Investors Brace for Earnings Hit From Virus*
Stocks are closing lower on Wall Street as investors brace for what is sure to be widespread damage to company earnings because of the coronavirus.
By Associated Press, Wire Service Content April 13, 2020, at 4:38 p.m. 

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Stocks fell on Wall Street Monday, erasing some of the market’s big gains from last week, as investors braced for a sobering first look at how the coronavirus pandemic has hurt company earnings.

The S&P 500 fell 1% after cutting its early losses by more than half toward the end of the day. The benchmark index surged 12% last week, its best gain since 1974.

The pullback followed news over the weekend that OPEC, Russia and other oil producing nations have agreed to cut output in a bid to stem a slide in crude prices following a collapse in demand due to the outbreak.

Financial, industrial and health care stocks took some of the heaviest selling. Amazon and a few other retailers were bright spots. Traders continued to watch for more signs that the coronavirus outbreak may be leveling off and what that could mean for the prospects of reopening the economy.

Cautious optimism that the outbreak has begun to plateau in some of the worst-hit areas and another big infusion of economic support by the Federal Reserve helped spur last week’s big rally. This week, stocks could be in for more volatility as companies report results for the first quarter, though analysts will be focused primarily on what management teams have to say about what the rest of the year looks like.

Details may be hard to come by, as many companies have ceased giving earnings forecasts because of the uncertainty over when government officials will determine it's safe to roll back the social distancing and stay-at-home mandates that have all but ground the economy to a halt.

“The companies don’t know what demand is going to be over the next three months or over the next six months,” said Willie Delwiche, investment strategist at Baird.

The S&P lost 28.19 points to 2,761.63. The Dow Jones Industrial Average fell 328.60 points, or 1.4%, to 23,390.77. The index had been down 624 points. The Nasdaq reversed an early slide and rose 38.85 points, or 0.5%, to 8,192.42. The Russell 2000 index of smaller company stocks lost 34.68 points, or 2.8%, to 1,212.04.

European markets were closed for a holiday, and Asian markets ended mostly lower.

Bond prices fell. The yield on the 10-year Treasury to 0.75% from 0.72% late Thursday. U.S. markets were closed last Friday for the Good Friday holiday.

Several major banks, including JPMorgan Chase, Wells Fargo and Bank of America, and big companies, including UnitedHealth Group, Johnson & Johnson and Rite Aid, are on deck to report results this week.

Analysts predict that earnings for all the companies in the S&P 500 will be down 9% in the first quarter from a year earlier, according to FactSet. That would be the biggest annual decline in earnings for the index since the third quarter of 2009 when earnings slumped nearly 16%.

“Our view is its one big write-off year,” said Keith Lerner, chief market strategist at SunTrust Advisory Services. “The market is going to start thinking more about 2021, 2022. On the other side of this, what does that business look like?”

The closure of businesses and mandates for people to stay home have forced a record number of Americans out of work and raised the possibility that many businesses could end up bankrupt. That has many investors anticipating what may be the worst recession since the Great Depression.

Investors have been focused on the trajectory of the coronavirus for clues as to how pronounced the economic fallout will be. Despite some positive signs — the death toll in New York on Sunday dipped below 700 for the first time in a week — the overall data indicate that the number of new cases continues to increase.

There are more than 1.86 million confirmed cases worldwide, led by the United States with more than 557,000, according to a tally by Johns Hopkins University.

Traders are trying to gauge when shutdowns in many countries might ease. Comments by Dr. Anthony Fauci, the top infectious disease expert in the U.S., have raised hopes. He has said some parts of the U.S. might be able to reopen as early as next month, while warning that much remains uncertain.

China has begun, cautiously, to reopen activity in regions such as Wuhan and surrounding Hubei province that were shut down during the worst of its outbreak.

After last week’s big move up, stocks are likely moving into a trading range reflecting a tug of war between investors’ hopes for a recovery and concerns about the extent of the damage to the economy. Quick actions by the Fed and the $2 trillion economic aid package from the government have eased some of investors’ concerns.

That optimism helped push the S&P 500 up 6.9% so far this month, though it’s still down 18.4% from the record high it reached Feb. 19.

Oil prices got a brief boost following the decision by OPEC and other oil producers over the weekend to cut production by nearly 10 million barrels a day, or a tenth of global supply, beginning May 1.

Analysts said the cuts were not enough to make up for the void in demand due to business and travel shutdowns due to the coronavirus. But the deal at least helped resolve a price war that took U.S. crude to near $20 per barrel, pummeling U.S. oil and gas producers.

U.S. benchmark crude initially jumped more than $1 but then lost ground. It fell 35 cents to settle at $22.41 a barrel. It declined $2.33, or 9.3%, to $22.76 a barrel on Thursday, before the Good Friday holiday.

Brent, the international standard, rose 26 cents to close at $31.74 a barrel on Monday.


----------



## bigdog

Technology companies led stocks higher on Wall Street Tuesday as investors focused on how and when authorities may begin to ease business shutdowns and limits on people’s movements imposed to slow the spread of the coronavirus.

Big companies also started reporting their first-quarter earnings, giving investors an early peek into how the outbreak was affecting them. Traders will be poring over companies' quarterly report cards over the next few weeks to learn how the pandemic has changed corporate America's prospects for profit growth this year.

The S&P 500 index climbed 3.1%, erasing its losses from a day earlier. The technology-heavy Nasdaq rose 3.9%, aided by strong gains in Microsoft, Apple and several chipmakers.

The broad rally came amid new signs that government officials are considering how to gradually reopen the economy.

President Donald Trump has been discussing with senior aides how to roll back federal social distancing recommendations that expire at the end of the month. And governors around the U.S. have begun collaborating on plans to reopen their economies in what is likely to be a drawn-out, step-by-step process to prevent the coronavirus from rebounding.

The discussions follow some signs that the outbreak may be leveling off in some of the hardest-hit areas, including New York. In Italy, Spain and other places around Europe where infections and deaths have begun stabilizing, the process of reopening economies is already underway, with certain businesses and industries allowed to reopen in a calibrated effort aimed at balancing public health against their countries’ economic well-being.

“Wall Street is encouraged simply by the conversation of a reopening of the economy,” said Sam Stovall, chief investment strategist, CFRA.

The S&P 500 rose 84.43 points to 2,846.06. The benchmark index surged 12% last week, though it remains about 16% below its all-time high set in February. The Dow Jones Industrial Average gained 558.99 points, or 2.4%, to 23,949.76. The Nasdaq climbed 323.32 points to 8,515.74. The Russell 2000 index of smaller company stocks rose 25.29 points, or 2.1%, to 1,237.33.

Technology stocks powered much of the gains. Microsoft climbed 4.9% and Apple rose 5.1%.

*ASX 200 expected to rise.*
The S&P/ASX 200 index is expected to push higher again on Wednesday. According to the latest SPI futures, the benchmark index is expected to open 11 points or 0.2% higher.










https://www.usnews.com/news/busines...rise-chinas-march-trade-data-show-improvement

*Stocks End Higher as Traders Hope Restrictions Will Ease*
Stocks rose on Wall Street Tuesday as the market turned its attention to how and when authorities will ease business shutdowns and limits on people's movements imposed to slow the spread of the coronavirus.
By Associated Press, Wire Service Content April 14, 2020, at 5:07 p.m.

By ALEX VEIGA, STAN CHOE and DAMIAN J. TROISE, AP Business Writers

Technology companies led stocks higher on Wall Street Tuesday as investors focused on how and when authorities may begin to ease business shutdowns and limits on people’s movements imposed to slow the spread of the coronavirus.

Big companies also started reporting their first-quarter earnings, giving investors an early peek into how the outbreak was affecting them. Traders will be poring over companies' quarterly report cards over the next few weeks to learn how the pandemic has changed corporate America's prospects for profit growth this year.

The S&P 500 index climbed 3.1%, erasing its losses from a day earlier. The technology-heavy Nasdaq rose 3.9%, aided by strong gains in Microsoft, Apple and several chipmakers.

The broad rally came amid new signs that government officials are considering how to gradually reopen the economy.

President Donald Trump has been discussing with senior aides how to roll back federal social distancing recommendations that expire at the end of the month. And governors around the U.S. have begun collaborating on plans to reopen their economies in what is likely to be a drawn-out, step-by-step process to prevent the coronavirus from rebounding.

The discussions follow some signs that the outbreak may be leveling off in some of the hardest-hit areas, including New York. In Italy, Spain and other places around Europe where infections and deaths have begun stabilizing, the process of reopening economies is already underway, with certain businesses and industries allowed to reopen in a calibrated effort aimed at balancing public health against their countries’ economic well-being.

“Wall Street is encouraged simply by the conversation of a reopening of the economy,” said Sam Stovall, chief investment strategist, CFRA.

The S&P 500 rose 84.43 points to 2,846.06. The benchmark index surged 12% last week, though it remains about 16% below its all-time high set in February. The Dow Jones Industrial Average gained 558.99 points, or 2.4%, to 23,949.76. The Nasdaq climbed 323.32 points to 8,515.74. The Russell 2000 index of smaller company stocks rose 25.29 points, or 2.1%, to 1,237.33.

Technology stocks powered much of the gains. Microsoft climbed 4.9% and Apple rose 5.1%.

Johnson & Johnson climbed 4.5% after reporting a stronger profit for the first three months of the year than Wall Street expected. It also raised its dividend, bucking a broader trend as companies try to conserve cash, even though the health care giant also had to slash its outlook.

JPMorgan Chase and Wells Fargo fell after saying they were bracing for losses on loans as millions of Americans became unemployed. Their results missed analysts' forecasts. JPMorgan dropped 2.7% and Wells Fargo fell 1.3%.

Tentative optimism that the outbreak has begun to plateau in some areas, plus unprecedented infusions of support from the Federal Reserve and the government, have helped drive stocks higher this month. But this week stocks could be in for more volatility as companies serve up their first-quarter results.

While Wall Street expects profits will be down for most companies in the S&P 500, the focus is on what management teams have to say about what their prospects for profits look like for the rest of the year. That might prove difficult. With all the uncertainties about when economies may reopen, many companies have simply pulled their profit and sales forecasts for the year altogether.

Given how big and unprecedented the coronavirus shock to the economy has been, analysts are struggling to guess how bad corporate earnings will get hit. At Deutsche Bank, Chief Global Strategist Binky Chadha said his usual methods of forecasting earnings based on economic growth or surveys measuring business activity “are essentially broken.”

“It’s incredibly hard during normal times to have an economic forecast, but today, you’re kind of flying blind,” said Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management. “What companies have to say will be incredibly important.”

Across Wall Street, analysts are forecasting a drop of roughly 10% in earnings per share for S&P 500 companies for the first quarter and 21% for the second quarter.

It’s going to be a tough couple of quarters for corporate America as the economy will likely take “two steps forward and one step back” as it recovers, said Jeff Buchbinder, equity strategist for LPL Financial. “We know this is going to be one of the most severe recessions we have ever seen.”

There are more than 1.94 million confirmed coronavirus cases worldwide, led by the United States with more than 583,000, according to a tally by Johns Hopkins University.

Bond prices were little changed. The yield on the 10-year Treasury held steady at 0.75%.

Oil prices fell sharply, despite an agreement reached over the weekend by OPEC, Russia and other oil producing nations to cut output starting May 1 by nearly 10 million barrels a day, or a tenth of daily global supply. Benchmark U.S. crude fell $2.30, or 10.3%, to settle at $20.11 a barrel. Brent, the international standard, dropped $2.14 to close at $29.60 a barrel.

European markets mostly rose after reopening following a holiday. Asian markets ended mostly higher.


----------



## bigdog

Selling swept Wall Street Wednesday after a dismal lineup of reports made clear how historic the coronavirus crunch has been for the economy.

Markets are already bracing for what’s forecast to be the worst downturn since the Great Depression, but Wednesday’s data was even more dispiriting than expected, including a record drop for U.S. retail sales. Adding to the gloom: More banks made moves in anticipation that households and companies will be forced to default on billions of dollars of debt as businesses remain shut and millions of workers lose their jobs.

Stocks around the world fell, reversing Tuesday’s up trend, as markets continue to cycle between fear and budding optimism about how long and deep the recession will be.

The S&P 500 lost 62.70 points, or 2.2%, to 2,783.36. The Dow Jones Industrial Average fell 445.41 points, or 1.9%, to 23,504.35, and the Nasdaq was down 122.56, or 1.4%, at 8,393.18.

“We should take any company forecast and analyst forecast with a grain of salt here,” said David Kelly, chief global strategist at JPMorgan Funds “There are many analysts who are just as bewildered as companies are.”

“What you need to be here is an epidemiologist more than anything else,” he said.

Stocks will likely remain volatile as long as investors are uncertain about how long the downturn caused by the outbreak will last, and that ultimately depends on when health experts can corral the virus.

*ASX 200 expected to fall.*
It looks set to be a disappointing day of trade for the S&P/ASX 200 index. According to the latest SPI futures, the benchmark index is expected to open 117 points or 2.1% lower this morning.










https://www.usnews.com/news/busines...ink-after-imf-says-global-economy-will-shrink

*Stocks Sink Following Grim Data on Economic Hit From Virus*
Selling swept Wall Street after a dismal lineup of reports made clear how historic the coronavirus crunch has been for the economy.
By Associated Press, Wire Service Content April 15, 2020, at 4:36 p.m. 

By STAN CHOE, ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — Selling swept Wall Street Wednesday after a dismal lineup of reports made clear how historic the coronavirus crunch has been for the economy.

Markets are already bracing for what’s forecast to be the worst downturn since the Great Depression, but Wednesday’s data was even more dispiriting than expected, including a record drop for U.S. retail sales. Adding to the gloom: More banks made moves in anticipation that households and companies will be forced to default on billions of dollars of debt as businesses remain shut and millions of workers lose their jobs.

Stocks around the world fell, reversing Tuesday’s up trend, as markets continue to cycle between fear and budding optimism about how long and deep the recession will be.

The S&P 500 lost 62.70 points, or 2.2%, to 2,783.36. The Dow Jones Industrial Average fell 445.41 points, or 1.9%, to 23,504.35, and the Nasdaq was down 122.56, or 1.4%, at 8,393.18.

“We should take any company forecast and analyst forecast with a grain of salt here,” said David Kelly, chief global strategist at JPMorgan Funds “There are many analysts who are just as bewildered as companies are.”

“What you need to be here is an epidemiologist more than anything else,” he said.

Stocks will likely remain volatile as long as investors are uncertain about how long the downturn caused by the outbreak will last, and that ultimately depends on when health experts can corral the virus.

Wednesday’s economic lowlight was a report showing U.S. retail sales plummeted 8.7% last month, as the engine of the U.S. economy gets locked away amid widespread stay-at-home orders to slow the spread of the virus. Industrial production across the country also dropped in March by the largest percentage since 1946, while an April survey of manufacturers in New York state fell to its lowest reading on record. A measure of confidence among home builders hit its lowest level since 2012.

Treasury yields sank after the release of the reports, a sign of concern about future growth in the economy. The yield on the 10-year Treasury fell to 0.63% from 0.75% late Tuesday.

The retail sales data hit markets particularly hard given consumer spending makes up about two-thirds of the economy. It also raised questions about what a recovery will look like.

“How does this impact consumer behavior in an economy largely driven by consumers?” asked Keith Buchanan, portfolio manager at Globalt.

Energy stocks took the sharpest losses after oil prices touched another 18-year low. Those in the S&P 500 index fell 4.7%, including a 5.5% slide for ConocoPhillips and a 4.6% drop for Exxon Mobil.

Demand for oil around the world will fall this year by a record amount amid widespread lockdowns, the International Energy Agency said Wednesday. Benchmark U.S. crude touched its lowest price since 2002 before recovering slightly to $19.87 a barrel, down 24 cents from a day earlier. Brent crude, fell $1.91, or 6.5%, to $27.69 a barrel.

Financial stocks were also among the market’s biggest losers after more banks said they had to set aside billions of dollars in preparation for a coming avalanche of defaults. Bank of America fell 6.5%, and Citigroup lost 5.6%.

In Europe, London’s FTSE 100 lost 3.3%, the German DAX dropped 3.9% and the CAC 40 in France retreated 3.8%. The Nikkei 225 in Tokyo fell 0.5%, and Hong Kong’s Hang Seng was off 1.2%.

Investors are focusing on how and when authorities may begin to ease business shutdowns and limits on people’s movements. The S&P 500 had jumped 3.1% just a day earlier on hopes that the outbreak was leveling off in some hotspots, which could lead to parts of the economy opening back up.

That gain capped a rally that sent the S&P 500 up 27% since hitting a bottom on March 23. The upswing started following announcements of massive aid by the Federal Reserve and U.S. government to prop up the economy. The index is down about 18% from its record high set in February.

While still jarring, the yo-yo moves of recent weeks have been less severe than earlier in the sell-off, when daily moves of 8% and even more than 10% throttled markets.

”We’re past the indiscriminate selling period,” said Leo Kelly, CEO of Verdence Capital Advisors. “The market is trying to discover what that looks like on the other side.”

President Donald Trump has been discussing how to roll back federal social distancing recommendations. U.S. governors are collaborating on plans to reopen their economies in what is likely to be a gradual process to prevent the coronavirus from rebounding.

China has reopened factories, shops and other businesses after declaring victory over the outbreak, but forecasters say it will take months for industries to return to normal output, while exporters will face depressed global demand.

But if the market’s hopes for an upcoming reopening prove to be too optimistic, it likely sets stocks up for steep declines ahead.

“It’s correct now to be a little bit more hesitant," said Liz Ann Sonders, chief investment strategist at Charles Schwab. "Did we go a little too far, too fast?”


----------



## bigdog

Even in this new stay-at-home, increasingly jobless economy, some businesses are making out as clear winners, and gains for Amazon, health care companies and stocks in other pockets of the market helped prop up Wall Street Thursday.

The S&P 500 rose 0.6% after flipping between small gains and losses following a government report that 5.2 million Americans filed for unemployment benefits last week. The report was universally regarded as awful, and it brought the total for the last month to roughly 22 million. But markets had braced for a number that was even more awful, which helped limit losses for stocks.

The day’s move for the S&P 500 was one of its mildest since the coronavirus outbreak began knocking stocks lower two months ago. But it belied some churn underneath, as losers in the index outnumbered winners.

“We know the numbers are not going to be good, but companies can show they’ve taken steps to stop the cash drain or that they’ve positioned themselves well,” said Sal Bruno, chief investment officer at IndexIQ.

Amazon, Dollar General and Walmart all closed at record highs as people stock up on staples. Netflix also reached an all-time high as people spend more time than ever at home, while health care stocks in the S&P 500 rose 2.2% for the biggest gain among the 11 sectors that make up the index.

The losers in the coronavirus pandemic, meanwhile, took yet more hits. United Airlines sank 11.5% for the one of the worst slides in the S&P 500 after its CEO told employees that demand for travel “is essentially zero and shows no sign of improving in the near term.”

The S&P 500 rose 16.19 points to 2,799.55. The Dow Jones Industrial Average added 33.33 points, or 0.1%, to 23,537.68, the Nasdaq jumped 139.19, or 1.7%, to 8,532.36 and the Russell 2000 index of smaller stocks slumped 5.89, or 0.5%, to 1,178.09.

*ASX 200 expected to fall.*
The S&P/ASX 200 index looks set to end the week on a low note. According to the latest SPI futures, the benchmark index is expected to open the day 0.5% or 27 points lower this morning. This is despite Wall Street rebounding overnight.










https://www.usnews.com/news/busines...-slide-after-weak-us-data-add-to-global-gloom

*Stocks Climb as Pandemic Winners Pull Away on Wall Street*
Stocks rose on Thursday, with the heaviest lifting coming from Amazon, health care stocks and the few other pockets of the market that have managed to be winners in the coronavirus crunch.
By Associated Press, Wire Service Content April 16, 2020, at 4:56 p.m. 

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Even in this new stay-at-home, increasingly jobless economy, some businesses are making out as clear winners, and gains for Amazon, health care companies and stocks in other pockets of the market helped prop up Wall Street Thursday.

The S&P 500 rose 0.6% after flipping between small gains and losses following a government report that 5.2 million Americans filed for unemployment benefits last week. The report was universally regarded as awful, and it brought the total for the last month to roughly 22 million. But markets had braced for a number that was even more awful, which helped limit losses for stocks.

The day’s move for the S&P 500 was one of its mildest since the coronavirus outbreak began knocking stocks lower two months ago. But it belied some churn underneath, as losers in the index outnumbered winners.

“We know the numbers are not going to be good, but companies can show they’ve taken steps to stop the cash drain or that they’ve positioned themselves well,” said Sal Bruno, chief investment officer at IndexIQ.

Amazon, Dollar General and Walmart all closed at record highs as people stock up on staples. Netflix also reached an all-time high as people spend more time than ever at home, while health care stocks in the S&P 500 rose 2.2% for the biggest gain among the 11 sectors that make up the index.

The losers in the coronavirus pandemic, meanwhile, took yet more hits. United Airlines sank 11.5% for the one of the worst slides in the S&P 500 after its CEO told employees that demand for travel “is essentially zero and shows no sign of improving in the near term.”

As a sector, financial stocks weighed heaviest on the market with banks continuing their weeklong slide. Worries are high that business-shutdown orders — and the punishing sweep of layoffs they’re causing — will force households and businesses to default on billions of dollars of loans. JPMorgan Chase lost 3.8%, and Citigroup slid 5.5%.

Energy companies and owners of shopping malls were also hard hit as people stay at home amid efforts to slow the spread of the virus. Simon Property Group lost 13.3%, and Occidental Petroleum fell 10.4%.

Analysts see the separation of winners and losers as an encouraging sign for the market. Earlier in the sell-off, fears about the impending recession pulled the plug for stocks across sectors.

“We had a market that was dotted with indiscriminate selling,” said Quincy Krosby, chief market strategist at Prudential Financial. “Now you have a differentiation within the market, which indicates a healthier backdrop.”

The S&P 500 rose 16.19 points to 2,799.55. The Dow Jones Industrial Average added 33.33 points, or 0.1%, to 23,537.68, the Nasdaq jumped 139.19, or 1.7%, to 8,532.36 and the Russell 2000 index of smaller stocks slumped 5.89, or 0.5%, to 1,178.09.

The market’s momentum picked up in the last minutes of trading as the White House prepared to discuss guidelines outlining a phased approach to reopening businesses, schools and other areas of life.

Treasury yields fell again and remain extremely low, though, which shows how pessimistic investors are about the economy’s prospects.

Thursday’s meandering trading offered a milder microcosm of the up-and-down lurches that stocks have been cycling through in recent weeks as traders try to guess how long and how deep the upcoming recession will be.

On one hand, investors see the severe economic damage caused by the pandemic. Besides the jobless report, data released Thursday showed that homebuilders broke ground on fewer homes than expected last month. A survey of manufacturers in the mid-Atlantic region fell below the low point during the Great Recession.

On the other hand, some optimistic investors are focusing on massive aid for the economy promised by the Federal Reserve and the U.S government. They also point to recent signs that the outbreak may be leveling off in some of the world’s hardest-hit areas, which could open the path to reopening parts of the economy.

The dueling sentiments have helped the S&P 500 nearly halve its loss since falling from its record high in mid-February. Stocks were down by nearly 34% in late March, but a recent rally has trimmed the loss to roughly 17%.

Ultimately, many professional investors say they expect the market to remain volatile until the worst of the outbreak passes.

“This is a consumer-led economy,” said Prudential’s Krosby. “The question is: At what point does the consumer feel comfortable enough to begin even a quasi-normal life outside their homes?”

In Europe, Germany’s DAX rose 0.2%, France’s CAC 40 slipped 0.1% and the FTSE 100 in London added 0.5%.

In Asia, Japan’s Nikkei 225 fell 1.3%. Hong Kong’s Hang Seng dropped 0.6%, and the Kospi in South Korea was virtually flat.

The yield on the 10-year Treasury fell to 0.60% from 0.64% late Wednesday. Yields fall when bond prices rise. Investors tend to bid up Treasurys when they’re worried about the economy.


----------



## bigdog

In Wall Street’s tug of war between hope and pessimism about the coronavirus pandemic, hope is fighting back.

U.S. stocks joined a worldwide rally Friday and closed out their first back-to-back weekly gain since the market began selling off two months ago. The S&P 500 jumped 2.7% for the day, following up on even bigger gains in Europe and Asia.

Investors latched onto several strands of hope about progress in the fight against the coronavirus. They included the White House’s release of guidelines for states to reopen their economies and a very early but encouraging report on a possible treatment for COVID-19. Those events dovetailed with recent numbers that raised hopes for a leveling off of infections in some of the world’s hotspots.

The gains came even as data piles higher showing the severe economic and human toll of the outbreak. The virus has killed more than 150,000 worldwide and forced the formerly high-flying Chinese economy to shrink a crunching 6.8% last quarter. A measure of leading economic indicators in the U.S. plunged last month by the most in its 60-year history, the latest in a string of similarly unprecedented data reports.

The S&P 500 rose 75.01 points to 2,874.56. The Dow Jones Industrial Average jumped 704.81, or 3%, to 24,242.49, and the Nasdaq added 117.78, or 1.4%, to 8,650.14.

“There’s no clear path yet” on when the pandemic and the economic devastation it’s caused will end, said Lindsey Bell, chief investment strategist at Ally Invest.

That’s caused the stock market to cycle up, down and up again, sometimes in the same day, as it tries to set prices now for where corporate profits will be months in the future.

Optimists have been more forceful recently as they point to infections leveling off in some hard-hit areas around the world. That raises the possibility that parts of the economy could reopen — although not tomorrow — and eventually boost profits, which are currently expected to fall by roughly 25% in the second quarter, according to FactSet. Optimists are willing to look through all the economic damage in the near term, which is being mitigated somewhat by massive aid from the Federal Reserve and the U.S. government.










*One Month Chart



*






https://www.usnews.com/news/busines...-shares-climb-on-china-data-wall-street-rally

*Hope Takes the Reins on Wall Street, Stocks Rally Worldwide*
U.S. stocks joined a worldwide rally and closed out their first back-to-back weekly gain since the market began selling off two months ago.
By Associated Press, Wire Service Content April 17, 2020, at 5:51 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — In Wall Street’s tug of war between hope and pessimism about the coronavirus pandemic, hope is fighting back.

U.S. stocks joined a worldwide rally Friday and closed out their first back-to-back weekly gain since the market began selling off two months ago. The S&P 500 jumped 2.7% for the day, following up on even bigger gains in Europe and Asia.

Investors latched onto several strands of hope about progress in the fight against the coronavirus. They included the White House’s release of guidelines for states to reopen their economies and a very early but encouraging report on a possible treatment for COVID-19. Those events dovetailed with recent numbers that raised hopes for a leveling off of infections in some of the world’s hotspots.

The gains came even as data piles higher showing the severe economic and human toll of the outbreak. The virus has killed more than 150,000 worldwide and forced the formerly high-flying Chinese economy to shrink a crunching 6.8% last quarter. A measure of leading economic indicators in the U.S. plunged last month by the most in its 60-year history, the latest in a string of similarly unprecedented data reports.

The S&P 500 rose 75.01 points to 2,874.56. The Dow Jones Industrial Average jumped 704.81, or 3%, to 24,242.49, and the Nasdaq added 117.78, or 1.4%, to 8,650.14.

“There’s no clear path yet” on when the pandemic and the economic devastation it’s caused will end, said Lindsey Bell, chief investment strategist at Ally Invest.

That’s caused the stock market to cycle up, down and up again, sometimes in the same day, as it tries to set prices now for where corporate profits will be months in the future.

Optimists have been more forceful recently as they point to infections leveling off in some hard-hit areas around the world. That raises the possibility that parts of the economy could reopen — although not tomorrow — and eventually boost profits, which are currently expected to fall by roughly 25% in the second quarter, according to FactSet. Optimists are willing to look through all the economic damage in the near term, which is being mitigated somewhat by massive aid from the Federal Reserve and the U.S. government.

“Just having that light at the end of the tunnel is what people really want to see,” said J.J. Kinahan, chief market strategist at TD Ameritrade.

The S&P 500 fell about 33% from it’s all-time high on Feb. 19 to March 23 as the virus moved quickly from Asia to Europe to the U.S., largely shutting down economies as it went. The market has recovered a little more than half of those losses since.

Pessimists say the recent rally for stocks has been overdone and point to the severe pain shocking the health care system and the economy. They say conditions are unlikely to get back to anything approximating “normal” soon. Even the unprecedented aid from the Fed and Congress won’t be nearly enough for households and businesses to weather a protracted downturn.

“We’re trying to bridge from the current state to the aftermath, and that bridge is just not long enough,” said Eric Freedman, chief investment officer at U.S. Bank Wealth Management. “That’s the bearish case, that consumers are impacted beyond what the policy can provide because the virus extends and people really hold off on making more expenditures.”

Among the wisps of optimism that investors were focusing on Friday:

— A news report cited early progress in a drug candidate for the virus. Analysts cautioned that the encouraging data was only anecdotal, and they were hesitant to put too much stock in it. Shares of the company behind the candidate, Gilead Sciences, surged 9.7%.

— Boeing said late Thursday that it will resume production of passenger jets in Washington state next week. It suspended work late last month after workers tested positive for the coronavirus. Its 14.7% surge was a big reason for the Dow’s climb Friday.

In a sign of a bit less caution in the market, Treasury yields ticked higher but remain extremely low. The yield on the 10-year Treasury rose to 0.64% from 0.61% late Thursday, though it remains well below the 1.90% level it was near at the start of the year. Bond yields drop when their prices rise, and investors tend to buy Treasurys when they’re worried about the economy.

”The government can give the mandate to reopen the economy, but it’s going to be all about how comfortable consumers feel in going back to their workplace and how comfortable they feel about going back to restaurants or doing other activities around other people,” said Ally Invest’s Bell. “The best way for us to get any insight into that is to listen to what corporations say about how they’re going to bring back their workforce. Is it going to be at a 25% rate? A 50% rate?”

Investors could hear such commentary in upcoming weeks, with hundreds of CEOs scheduled to discuss how badly their profits got hit by stay-at-home orders in the first three months of the year.

The market’s gains were widespread Friday, across all 11 sectors that comprise the S&P 500. Energy producers and banks led the way, a sharp turnaround from their laggardly ways earlier in the week when worries about the economy were at the forefront.

In European trading, the CAC 40 in Paris rose 3.4%, while Germany’s DAX climbed 3.1%. Britain’s FTSE 100 added 2.8%.

Japan’s Nikkei 225 index jumped 3.1%, the Hang Seng in Hong Kong advanced 1.6% and South Korea’s Kospi leaped 3.1%.

India’s S&P BSE 100 rose 2.8% after the central bank cut its benchmark interest rate to help the stalled economy and ease financing troubles amid a nationwide lockdown to fight the pandemic.

“Human spirit is ignited by the resolve to curb the pandemic,” said Reserve Bank of India Gov. Shaktikanta Das. “It is during our darkest moments that we must focus on the light.”

447


----------



## bigdog

*ASX 200 expected to open higher.*
The S&P/ASX 200 index looks set to start the week in the black. According to the latest SPI futures, the ASX 200 is expected to open the day 1 point higher. This follows a positive end to the week on Wall Street. The Dow Jones climbed over 700 points or 3%, the S&P 500 rose 2.7%, and the Nasdaq index pushed 1.4% higher.


----------



## bigdog

Oil futures plunged below zero on Monday, the latest never-before-seen number to come out of the economic coma caused by the coronavirus pandemic.

Stocks and Treasury yields also dropped on Wall Street, with the S&P 500 down 1.8%, but the market’s most dramatic action by far was in oil, where the cost to have a barrel of U.S. crude delivered in May plummeted to negative $37.63. It was at roughly $60 at the start of the year.

Traders are still paying $20.43 for a barrel of U.S. oil to be delivered in June, which analysts consider to be closer to the “true” price of oil. Crude to be delivered next month, meanwhile, is running up against a stark problem: traders are running out of places to keep it, with storage tanks close to full amid a collapse in demand as factories, automobiles and airplanes sit idled around the world.

Tanks at a key energy hub in Oklahoma could hit their limits within three weeks, according to Chris Midgley, head of analytics at S&P Global Platts. Because of that, traders are willing to pay others to take that oil for delivery in May off their hands, so long as they also take the burden of figuring out where to keep it.

“Almost by definition, crude oil has never fallen more than 100%, which is what happened today,” said Dave Ernsberger, global head of pricing and market insight at S&P Global Platts.

“I don’t think any of us can really believe what we saw today,” he said. “This kind of rewrites the economics of oil trading.”

Also exacerbating the volatility is that few traders are buying and selling U.S. oil to be delivered in May. They won’t even have the opportunity to do so after Tuesday, when trading contracts for it expire and the earliest delivery they’ll be able to buy is for June.

Brent crude, the international standard, fell nearly 9% to $25.57 per barrel.

The plunge in oil sent energy stocks in the S&P 500 to a 3.7% loss, the latest in a dismal 2020 that has caused their prices to nearly halve.

The S&P 500 fell 51.40 points to 2,823.16. The Dow Jones Industrial Average lost 592.05 points, or 2.4%, to 23,650.44, and the Nasdaq dropped 89.41, or 1%, to 8,560.73.

The losses ate into some of the big gains indexes have made since late March, driven lately by investors anticipating the potential reopening of businesses as infections level off in hard-hit areas. Pessimists have called the rally overdone, pointing to the severe economic pain sweeping the world and continued uncertainty about how long it will last.

*ASX 200 expected to drop lower again.*
The S&P/ASX 200 index looks set to continue its slide on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 55 points or 1% lower. This follows a very poor start to the week on Wall Street.










https://www.usnews.com/news/busines...mixed-as-oil-prices-fall-back-china-cuts-rate

*Oil Price Goes Negative as Demand Collapses; Stocks Dip*
Oil prices plunged below zero on Monday, the latest never-before-seen number to come out of the economic coma caused by the coronavirus pandemic.
By Associated Press, Wire Service Content April 20, 2020, at 4:33 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Oil futures plunged below zero on Monday, the latest never-before-seen number to come out of the economic coma caused by the coronavirus pandemic.

Stocks and Treasury yields also dropped on Wall Street, with the S&P 500 down 1.8%, but the market’s most dramatic action by far was in oil, where the cost to have a barrel of U.S. crude delivered in May plummeted to negative $37.63. It was at roughly $60 at the start of the year.

Traders are still paying $20.43 for a barrel of U.S. oil to be delivered in June, which analysts consider to be closer to the “true” price of oil. Crude to be delivered next month, meanwhile, is running up against a stark problem: traders are running out of places to keep it, with storage tanks close to full amid a collapse in demand as factories, automobiles and airplanes sit idled around the world.

Tanks at a key energy hub in Oklahoma could hit their limits within three weeks, according to Chris Midgley, head of analytics at S&P Global Platts. Because of that, traders are willing to pay others to take that oil for delivery in May off their hands, so long as they also take the burden of figuring out where to keep it.

“Almost by definition, crude oil has never fallen more than 100%, which is what happened today,” said Dave Ernsberger, global head of pricing and market insight at S&P Global Platts.

“I don’t think any of us can really believe what we saw today,” he said. “This kind of rewrites the economics of oil trading.”

Also exacerbating the volatility is that few traders are buying and selling U.S. oil to be delivered in May. They won’t even have the opportunity to do so after Tuesday, when trading contracts for it expire and the earliest delivery they’ll be able to buy is for June.

Brent crude, the international standard, fell nearly 9% to $25.57 per barrel.

The plunge in oil sent energy stocks in the S&P 500 to a 3.7% loss, the latest in a dismal 2020 that has caused their prices to nearly halve.

Halliburton lurched between gains and sharp losses, even though it reported stronger results for the first three months of 2020 than analysts expected. The oilfield engineering company said that the pandemic has created so much turmoil in the industry that it “cannot reasonably estimate” how long the hit will last. It expects a further decline in revenue and profitability for the rest of 2020, particularly in North America.

The S&P 500 fell 51.40 points to 2,823.16. The Dow Jones Industrial Average lost 592.05 points, or 2.4%, to 23,650.44, and the Nasdaq dropped 89.41, or 1%, to 8,560.73.

The losses ate into some of the big gains indexes have made since late March, driven lately by investors anticipating the potential reopening of businesses as infections level off in hard-hit areas. Pessimists have called the rally overdone, pointing to the severe economic pain sweeping the world and continued uncertainty about how long it will last.

“The government can declare whatever they want in terms of encouraging people to get out and do stuff,” said Willie Delwiche, investment strategist at Baird. “Whether or not broad swaths of society do that remains to be seen. It’s going to take seeing people start to get out and do stuff again. That will be the necessary positive development, not just declaring getting things open.”

More gains from companies that are winners in the new stay-at-home economy helped limit the market’s losses. Netflix jumped 3.4% to set another record as people shut in at home look to fill their time. Amazon added 0.8%.

In Asia, Tokyo’s Nikkei 225 fell 1.1%. The Hang Seng index in Hong Kong lost 0.2%, and South Korea’s Kospi fell 0.8%.

European markets were modestly higher. The German DAX was up 0.5%, the French CAC 40 was up 0.7% and the FTSE 100 in London gained 0.7%.

In a sign of continued caution in the market, Treasury yields remained extremely low. The yield on the 10-year Treasury slipped to 0.62% from 0.65% late Friday.

Stocks have been on a general upward swing recently, and the S&P 500 just closed out its first back-to-back weekly gain since the market began selling off in February. Promises of massive aid for the economy and markets by the Federal Reserve and U.S. government ignited the rally, which sent the S&P 500 up as much as 28.5% from a low on March 23.

More recently, countries around the world have tentatively eased up on business-shutdown restrictions put in place to slow the spread of the virus.

But health experts warn the pandemic is far from over and new flareups could ignite if governments rush to allow ”normal” life to return prematurely. The S&P 500 remains nearly 17% below its record high as millions more U.S. workers file for unemployment every week amid the shutdowns.

Many analysts also warn that some of the the recent rally for stocks is due to expectations the economy will pivot quickly and rebound sharply once economic quarantines are lifted. Those could prove to be too optimistic.

“There’s still uncertainty surrounding the reopening of the economy,” said Julian Emanuel, chief equity and derivatives strategist at BTIG. “Come fall, are we going to be back on airplanes? Are we going to go out and eat?”


----------



## bigdog

Oil prices crumpled even further Tuesday, and U.S. stocks sank to their worst loss in weeks as worries swept markets worldwide about the economic carnage caused by the coronavirus pandemic.

The market’s spotlight was again on oil, where prices have plummeted because very few people are flying or driving, and factories have shut amid widespread stay-at-home orders. Global demand is set to drop to levels last seen in the mid 1990s. At the same time, oil producers can’t slow their production fast enough, and all the extra crude means storage tanks are quickly running out of room.

The cost for a barrel of U.S. oil to be delivered in June plunged 43% to $11.57. That’s the part of the market that oil traders are focused on and trading most actively. For oil to be delivered next month, which is when storage tanks could top out, the cost of a barrel stood at $10.01. A day earlier, it fell below zero for the first time, meaning traders paid others to take oil off their hands to get rid of the headache of finding where to store it.

Analysts consider prices for U.S. oil to be delivered in June and later as closer to the “true“ price of crude, along with prices for international oils. They did not drop below zero, in part because the storage issues aren’t as pressing for them. But they also slid Tuesday on the same concern: A global economy incapacitated by the virus outbreak doesn’t need to burn as much fuel.

Brent crude, the international standard, for delivery in June lost 24.4% to $19.33 per barrel.

“I don’t think there’s enough time even before the June contract to solve the storage capacity issue, so you see the June contract coming down sharply,” said David Joy, chief market strategist at Ameriprise Financial.

The crumbling oil market helped drag stocks to their second straight day of losses, and the S&P 500 lost 3.1% for its worst drop since April 1. It followed up on similar declines across Europe and Asia.

The S&P 500 fell 86.60 points to 2,736.56. The losses were widespread, with 94% of stocks in the index down. Even shares of some recent winners in the new stuck-at-home economy dropped. Netflix slipped 0.8% before it announced its quarterly results after trading closed, including a 23% rise in global memberships.

The Dow Jones Industrial Average fell 631.56 points, or 2.7%, to 23,018.88, and the Nasdaq was down 297.50, or 3.5%, to 8,263.23.

“The markets have largely escaped panic mode but are not out of the volatility yet,” said Brian Nick, chief investment strategist for Nuveen.

*ASX 200 expected to tumble lower.*
It looks set to be another disappointing day for the S&P/ASX 200 index. According to the latest SPI futures, the ASX 200 is expected to open the day 107 points or 2.1% lower. This follows another very poor night on Wall Street.










https://www.usnews.com/news/busines...-after-oil-prices-dip-into-negative-territory

*Oil’s Chaotic Collapse Deepens; Stocks Drop Worldwide*
Oil prices are continuing to collapse, and U.S. stocks dropped to their worst loss in weeks as worries sweep markets about the economic damage caused by the coronavirus outbreak.
By Associated Press, Wire Service Content April 21, 2020, at 5:27 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Oil prices crumpled even further Tuesday, and U.S. stocks sank to their worst loss in weeks as worries swept markets worldwide about the economic carnage caused by the coronavirus pandemic.

The market’s spotlight was again on oil, where prices have plummeted because very few people are flying or driving, and factories have shut amid widespread stay-at-home orders. Global demand is set to drop to levels last seen in the mid 1990s. At the same time, oil producers can’t slow their production fast enough, and all the extra crude means storage tanks are quickly running out of room.

The cost for a barrel of U.S. oil to be delivered in June plunged 43% to $11.57. That’s the part of the market that oil traders are focused on and trading most actively. For oil to be delivered next month, which is when storage tanks could top out, the cost of a barrel stood at $10.01. A day earlier, it fell below zero for the first time, meaning traders paid others to take oil off their hands to get rid of the headache of finding where to store it.

Analysts consider prices for U.S. oil to be delivered in June and later as closer to the “true“ price of crude, along with prices for international oils. They did not drop below zero, in part because the storage issues aren’t as pressing for them. But they also slid Tuesday on the same concern: A global economy incapacitated by the virus outbreak doesn’t need to burn as much fuel.

Brent crude, the international standard, for delivery in June lost 24.4% to $19.33 per barrel.

“I don’t think there’s enough time even before the June contract to solve the storage capacity issue, so you see the June contract coming down sharply,” said David Joy, chief market strategist at Ameriprise Financial.

The crumbling oil market helped drag stocks to their second straight day of losses, and the S&P 500 lost 3.1% for its worst drop since April 1. It followed up on similar declines across Europe and Asia.

The S&P 500 fell 86.60 points to 2,736.56. The losses were widespread, with 94% of stocks in the index down. Even shares of some recent winners in the new stuck-at-home economy dropped. Netflix slipped 0.8% before it announced its quarterly results after trading closed, including a 23% rise in global memberships.

The Dow Jones Industrial Average fell 631.56 points, or 2.7%, to 23,018.88, and the Nasdaq was down 297.50, or 3.5%, to 8,263.23.

“The markets have largely escaped panic mode but are not out of the volatility yet,” said Brian Nick, chief investment strategist for Nuveen.

In another sign of the concern washing over markets, Treasury yields fell further. The yield on the 10-year Treasury dropped to 0.56% from 0.62% late Monday, meaning investors are willing to get paid even less to get the safety of owning a U.S. government bond.

Even with all the chaos in the oil markets, some signs of economic activity on the horizon were poking through elsewhere. The Senate approved a coronavirus aid bill worth nearly $500 billion that would provide more loans to small businesses and aid to hospitals. Georgia’s governor, meanwhile, announced plans late Monday to allow gyms, hair salons and other businesses to reopen as early as Friday.

Rising optimism among some investors that parts of the economy could reopen as infections level off have helped stocks rally recently, and the S&P 500 is up more than 22% since hitting a low in late March. The rally got its start after the Federal Reserve and Congress promised massive amounts of aid for the economy.

“It looks like we’re bending the infection curve, there are signs of economic reopening and the stimulus is there,” said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. “All of which are good signs for the markets where there’s a potential scenario where the economy starts to recover.”

But the data coming in on the economy continues to be dismal, including a Tuesday report that showed the steepest drop for U.S. sales of previously occupied homes since 2015. Pessimists say the market’s rally has been overdone and that a premature reopening of the economy could lead to only more flareups of infections.

“If you start to see cases go back up in a pronounced way, it’s a sign that we may have trouble escaping this,” said Nuveen’s Nick.

Companies are also describing the hit to earnings they’re taking due to the outbreak, with many pulling their financial forecasts for the year given all the uncertainty about how long this recession will last. Coca-Cola said Tuesday that its sales were on track to hit financial targets through February, but that all changed when stay-at-home orders became widespread in March. It said it’s hopeful that improvement could arrive in the second half of the year. IBM on late Monday withdrew its guidance for 2020 results and said it will reassess at the end of June.

“There’s still a lot of uncertainty about this market,” said Ameriprise Financial’s Joy, “and it’s understandable because the visibility on earnings and the economy even is very limited still.”


----------



## bigdog

Stock rose on Wednesday, and the S&P 500 recovered a chunk of this week’s sharp losses as a bit of oxygen pumped through markets around the world.

Even oil gained ground, pulling further away from zero after earlier getting turned upside down amid a collapse in demand. Stocks rose from Seoul to Spain, and winners outnumbered losers in New York by more than two to one. Treasury yields also pushed higher in a sign of a bit less pessimism among investors.

”This has been a tremendously good reminder that the stock market is a forward predictor,” said Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management.

Investors are still bracing for a severe, painfully deep recession after businesses shut down worldwide in hopes of slowing the spread of the coronavirus. But they had already sent U.S. stocks down by roughly a third a month ago on that expectation. Now, even as depressing economic and health reports pile up, some investors are looking ahead to the prospect of parts of the economy reopening as infections level off in some areas.

“Right now, it’s about the economy beginning to open, even at the margins,” said Quincy Krosby, chief market strategist at Prudential Financial. “We’re watching Germany, the largest economy in Europe, begin to open. What this suggests is if things go well in these economies, we’re going to see more states begin to open, and perhaps open more broadly.”

The S&P 500 rose 62.75 points, or 2.3%, to 2,799.31 and trimmed its loss for the week to 2.6%.

The Dow Jones Industrial Average climbed 456.94, or 2%, to 23,475.82, and the Nasdaq composite picked up 232.15, or 2.8%, to 8,495.38.

Energy stocks jumped to some of the market’s biggest gains, riding the ripple of strengthening oil prices. Halliburton, Apache and Diamondback Energy all added at least 9%. All three, though, are still down more than 60% for the year so far.

*ASX 200 poised to storm higher.*
The S&P/ASX 200 index looks set to return to form on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 53 points or 1% higher this morning. This follows a positive night on Wall Street which saw the Dow Jones rise 2%, the S&P 500 climb 2.3%, and the Nasdaq index jump 2.8%. Rebounding oil prices and strong earnings helped lift U.S. markets.










https://www.usnews.com/news/busines...mixed-after-wall-st-hit-by-oil-market-turmoil

*Stocks Climb Worldwide as Oil Prices Crawl off the Floor*
Markets around the world rose Wednesday, and the S&P 500 recovered a chunk of this week’s sharp losses.
By Associated Press, Wire Service Content April 22, 2020, at 5:01 p.m. 

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Stock rose on Wednesday, and the S&P 500 recovered a chunk of this week’s sharp losses as a bit of oxygen pumped through markets around the world.

Even oil gained ground, pulling further away from zero after earlier getting turned upside down amid a collapse in demand. Stocks rose from Seoul to Spain, and winners outnumbered losers in New York by more than two to one. Treasury yields also pushed higher in a sign of a bit less pessimism among investors.

”This has been a tremendously good reminder that the stock market is a forward predictor,” said Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management.

Investors are still bracing for a severe, painfully deep recession after businesses shut down worldwide in hopes of slowing the spread of the coronavirus. But they had already sent U.S. stocks down by roughly a third a month ago on that expectation. Now, even as depressing economic and health reports pile up, some investors are looking ahead to the prospect of parts of the economy reopening as infections level off in some areas.

“Right now, it’s about the economy beginning to open, even at the margins,” said Quincy Krosby, chief market strategist at Prudential Financial. “We’re watching Germany, the largest economy in Europe, begin to open. What this suggests is if things go well in these economies, we’re going to see more states begin to open, and perhaps open more broadly.”

The S&P 500 rose 62.75 points, or 2.3%, to 2,799.31 and trimmed its loss for the week to 2.6%.

The Dow Jones Industrial Average climbed 456.94, or 2%, to 23,475.82, and the Nasdaq composite picked up 232.15, or 2.8%, to 8,495.38.

Energy stocks jumped to some of the market’s biggest gains, riding the ripple of strengthening oil prices. Halliburton, Apache and Diamondback Energy all added at least 9%. All three, though, are still down more than 60% for the year so far.

The price of a barrel of U.S. oil to be delivered in June jumped 19% to settle at $13.78. It had zig-zagged in the morning before turning higher after President Donald Trump threatened the destruction of any Iranian gunboats that harass U.S. Navy ships, raising the possibility of a disruption to oil supplies.

The big gain, though, means it’s recovered just a fraction of its steep losses. It was close to $30 at the start of last week and nearly $60 at the beginning of the year. A collapse in demand for energy combined with continued production in countries around the world means too much oil is sloshing around, depressing its price.

Brent crude, the international standard, climbed 5.4% to $20.37 per barrel.

Other companies that have been hurt by the coroanvirus pandemic also rose after offering some slight hints of hope.

Chipotle Mexican Grill, for example, said that a key sales figure plunged 16% in March on widespread stay-at-home orders. But it hit a bottom during the week of March 29, down 35%, and has since improved a bit. Declines the past week were “in the high teens.” Its shares rose 12.1%.

Stocks of companies that have been winners in the new stuck-at-home economy, meanwhile, are also telling investors just how much they’ve been benefiting.

With people hunkered inside and craving communication, Snap said that the number of active users on Snapchat each day jumped 20% in the first three months from a year ago. Its revenue topped Wall Street’s expectations, and Snap shares jumped 36.7%.

Netflix has also been a big winner as people look to fill their time, with shares recently hitting a record. It added nearly 16 million global subscribers in the first three months of the year, but shares slipped 2.9% after its profits didn’t quite live up to Wall Street’s lofty expectations.

Toilet paper has also been hugely in demand, and the maker of Cottonelle and Scott said its sales benefited in the first three months of the year as customers stocked up on them and Kleenex tissue, among other items. Shares of Kimberly-Clark rose 2.4%.

In an increasingly common move, Kimberly-Clark also retracted its financial forecasts for 2020 given how uncertain the global economy is due to the COVID-19 outbreak.

The Senate late Tuesday approved a $483 billion proposal to deliver more loans to small businesses and aid to hospitals. The House is expected to vote on it Thursday.

The new bill would come on top of more than $2 trillion in aid that Congress has already approved. That, plus massive support for markets from the Federal Reserve, has helped the S&P 500 rise 25% since a low in late March. The index has roughly halved its loss from its record set in February.

The yield on the 10-year Treasury rose to 0.61% from 0.57% late Tuesday. But it remains well below the 1.90% level where it started the year.

In Europe, Germany’s DAX returned 1.6%, France‘s CAC 40 gained 1.2% and the FTSE 100 in London added 2.3%. In Asia, South Korea’s Kospi rose 0.9%, the Hang Seng in Hong Kong gained 0.4% and Japan’s Nikkei 225 fell 0.7%.


----------



## bigdog

An early rally on Wall Street suddenly vanished on Thursday, the latest example of how fragile the hopes underpinning the stock market’s monthlong recovery are.

The S&P 500 initially shot higher in the morning, completely brushing aside another stunning report showing millions of workers are losing their jobs by the week. Investors were looking ahead, beyond the current economic misery, to the prospect of a reopening economy amid expectations that the coronavirus outbreak may be leveling off in areas around the world.

But all of its gain, which topped out at 1.6%, vanished in a span of seconds following a discouraging report about a possible treatment for COVID-19. After that, the S&P 500 flipped between gains and losses through the afternoon and ended the day down 0.1%.

It’s a microcosm of the extreme swings that have gripped markets for months, as investors struggle to set prices for where corporate profits and the economy will be months into the future.

Investors sent the S&P 500 skidding by a third from its record in February until a month ago, before the recession hit, on expectations that severe economic pain was on the way. Since then, the index has roughly halved its losses on a series of tenuous hopes for the future — hope that a reopening economy will allow companies to grow profits again, hope that massive aid from the Federal Reserve and Congress can temper the economic pain and hope that possible treatments for COVID-19 may be on the way.

A report from the Financial Times on Thursday afternoon undercut that third hope. It said a potential antiviral drug for the virus flopped in a clinical trial, citing documents published accidentally by the World Health Organization.

Shares of the company behind the drug, Gilead Sciences, flipped from a 3.3% gain to a 4.3% loss after the report. It also helped flip the market.

The S&P 500 finished at 2,797.80, down 1.51 points. The Dow Jones Industrial Average rose 39.44 points, or 0.2%, to 23,515.26 after losing almost all of a 409-point gain. The Nasdaq composite slipped 0.63 points to 8,494.75.

*ASX 200 poised to push higher.*
The S&P/ASX 200 index looks set for a positive finish to the week. According to the latest SPI futures, the ASX 200 is expected to open the day 0.2% or 11 points higher this morning. This follows a mixed night of trade on Wall Street which saw the Dow Jones rise 0.2%, the S&P 500 edge 0.05% lower, and the Nasdaq index end flat.










https://www.usnews.com/news/busines...sian-shares-mostly-rise-as-oil-prices-recover

*Hope Dashed: Early Rally Vanishes, Leaving Wall Street Mixed*
An early rally on Wall Street suddenly vanished Thursday in the latest example of how fragile the stock market’s recovery of the last month is.
By Associated Press, Wire Service Content April 23, 2020, at 4:55 p.m. 

By STAN CHOE, ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — An early rally on Wall Street suddenly vanished on Thursday, the latest example of how fragile the hopes underpinning the stock market’s monthlong recovery are.

The S&P 500 initially shot higher in the morning, completely brushing aside another stunning report showing millions of workers are losing their jobs by the week. Investors were looking ahead, beyond the current economic misery, to the prospect of a reopening economy amid expectations that the coronavirus outbreak may be leveling off in areas around the world.

But all of its gain, which topped out at 1.6%, vanished in a span of seconds following a discouraging report about a possible treatment for COVID-19. After that, the S&P 500 flipped between gains and losses through the afternoon and ended the day down 0.1%.

It’s a microcosm of the extreme swings that have gripped markets for months, as investors struggle to set prices for where corporate profits and the economy will be months into the future.

Investors sent the S&P 500 skidding by a third from its record in February until a month ago, before the recession hit, on expectations that severe economic pain was on the way. Since then, the index has roughly halved its losses on a series of tenuous hopes for the future — hope that a reopening economy will allow companies to grow profits again, hope that massive aid from the Federal Reserve and Congress can temper the economic pain and hope that possible treatments for COVID-19 may be on the way.

A report from the Financial Times on Thursday afternoon undercut that third hope. It said a potential antiviral drug for the virus flopped in a clinical trial, citing documents published accidentally by the World Health Organization.

Shares of the company behind the drug, Gilead Sciences, flipped from a 3.3% gain to a 4.3% loss after the report. It also helped flip the market.

The S&P 500 finished at 2,797.80, down 1.51 points. The Dow Jones Industrial Average rose 39.44 points, or 0.2%, to 23,515.26 after losing almost all of a 409-point gain. The Nasdaq composite slipped 0.63 points to 8,494.75.

“It should be expected — even as we are optimistic, and we see signs of progress in treatment, testing and vaccines — that there’s going to be some forward and some backsliding,” said Nela Richardson, investment strategist at Edward Jones.

She said that investors are still encouraged by signs of progress in the fight against the coronavirus, particularly in the number of fatalities and new cases in some areas.

“The risk is that these fundamentals that we’re seeing now that are dastardly, just terrible and reflective of the economy really going into a sudden stop, last longer than what the markets currently anticipate,” she said. “That uncertainty will cause volatility, even if the overall trajectory in the market is positive.”

Among the dastardly numbers arriving Thursday: Preliminary data on manufacturing and services activity in Europe and the United States came in even weaker than economists expected, as did a report on sales of new U.S. homes. The headliner, though, was the report showing another 4.4 million U.S. workers filed for unemployment benefits last week. That brought the total over the last five weeks to 26 million, or roughly one in six U.S. workers.

Analysts said investors may have found some encouragement in that last week’s number of jobless applications dipped slightly from the prior week, 5.2 million. Plus, investors were initially willing to look to past the dismal data because they were already fully expecting to see it.

”Numbers for the short term, when they’re reported, it’s almost like a sigh of relief that they aren’t higher,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute.

Las Vegas Sands jumped 12% for the largest gain in the S&P 500 after executives said travel restrictions in Macau, where the casino operator gets the bulk of its revenue, could begin to ease in May or June.

Energy stocks were also strong after the price of crude oil rose for a second straight day after getting upended earlier this week. Apache, Devon Energy and Halliburton all rose more than 8%, though all three also remain down at least 58% for the year.

U.S. crude oil for delivery in June rose 19.7% to settle at $16.50 a barrel. It has recovered after falling below $12 Monday, though it remains well below the roughly $60 level it started the year at. Brent crude, the international standard, rose 4.7% to $21.33 a barrel.

As stocks closed trading Thursday, the House was also set to vote on another nearly $500 billion in small-business loans and aid for hospitals, a proposal the Senate approved earlier this week. The Federal Reserve and Congress have promised trillions of dollars in aid for the economy and markets, which helped launch the market’s rally in late March.

“Certainly the degree of stimulus that has been put into the system, providing a bridge to the other side of the crisis, this is a necessary progression to keep businesses and consumers afloat, so there’s some positive reaction for the markets on the back of that as well,” said Bill Northey, senior investment director at U.S. Bank Wealth Management.

European and Asian markets ended higher.

The yield on the 10-year Treasury dipped to 0.59% from 0.61% late Wednesday. Yields tend to fall when investors are downgrading their expectations for the economy and inflation ahead.


----------



## bigdog

In a manic week full of previously unthinkable market moves, Wall Street ended Friday with one reminiscent of what things were like before the coronavirus outbreak upended everything.

The S&P 500 glided to a gain of 1.4%, with Apple, Microsoft and other technology stocks leading the way, as they did so many times before the economy shut down in hopes of slowing the spread of the outbreak. The bond market was quiet, while crude prices climbed again.

The gains offered a soothing coda for a wild week, which began with Monday’s astonishing plummet for oil and carried through Thursday’s sudden disappearance of a morning stock rally, as markets pinballed from fear to hope and back again.

“The market sort of feels like Dorothy coming to the crossroads and has yet to meet the scarecrow to tell her which way to go,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 still lost 1.3% for the week as worries about the economic damage dealt by the coronavirus outbreak outweighed hopes that businesses could soon reopen. That snapped the first two-week winning streak for the S&P 500 since it began selling off in February.

Reports piled higher through the week showing the pandemic is bludgeoning the economy even more than economists had feared. Roughly one in six U.S. workers has filed for unemployment benefits over the last five weeks.

The damage is so severe that a heavily divided Congress has reached bipartisan agreement on massive support for the economy. President Donald Trump signed a bill Friday to provide nearly $500 billion more, including loans for small businesses and aid for hospitals.

The big question for markets is when the economy can reopen, said Mike Zigmont, head of trading and research at Harvest Volatility Management. Businesses can get by for a few months on government help, he said, but if the shutdown drags on longer they could be permanently damaged.

Many investors have essentially agreed to swallow horrific corporate profits and economic data in upcoming months, and they’re turning their focus to who can survive and eventually grow their profits in the future.

Next week will be one of the busiest of this earnings season, with more than 150 companies in the S&P 500 reporting how much they made during the first three months of the year. Many companies have been pulling their profit forecasts entirely for 2020 given all the uncertainty, and Wall Street is slashing its own estimates.

“I don’t really think that’s added to the concern of investors because they assume that companies will be doing a lot of writing down in this bad year so that 2021 could look even better,” said CFRA’s Stovall.

The S&P 500 added 38.94 points to 2,836.74. The Dow Jones Industrial Average rose 260.01, or 1.1%, to 23,775.25, and the Nasdaq composite added 139.77, or 1.7%, to 8,634.52.










*One Month Chart



*






https://www.usnews.com/news/busines...wer-as-wall-st-rally-fizzles-amid-virus-fears

*Wall Street Ends Manic Week With a Gain, Led by Tech Stocks*
Stocks rose on Wall Street Friday, led by familiar names in technology including Apple.
By Associated Press, Wire Service Content April 24, 2020, at 5:05 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — In a manic week full of previously unthinkable market moves, Wall Street ended Friday with one reminiscent of what things were like before the coronavirus outbreak upended everything.

The S&P 500 glided to a gain of 1.4%, with Apple, Microsoft and other technology stocks leading the way, as they did so many times before the economy shut down in hopes of slowing the spread of the outbreak. The bond market was quiet, while crude prices climbed again.

The gains offered a soothing coda for a wild week, which began with Monday’s astonishing plummet for oil and carried through Thursday’s sudden disappearance of a morning stock rally, as markets pinballed from fear to hope and back again.

“The market sort of feels like Dorothy coming to the crossroads and has yet to meet the scarecrow to tell her which way to go,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 still lost 1.3% for the week as worries about the economic damage dealt by the coronavirus outbreak outweighed hopes that businesses could soon reopen. That snapped the first two-week winning streak for the S&P 500 since it began selling off in February.

Reports piled higher through the week showing the pandemic is bludgeoning the economy even more than economists had feared. Roughly one in six U.S. workers has filed for unemployment benefits over the last five weeks.

The damage is so severe that a heavily divided Congress has reached bipartisan agreement on massive support for the economy. President Donald Trump signed a bill Friday to provide nearly $500 billion more, including loans for small businesses and aid for hospitals.

The big question for markets is when the economy can reopen, said Mike Zigmont, head of trading and research at Harvest Volatility Management. Businesses can get by for a few months on government help, he said, but if the shutdown drags on longer they could be permanently damaged.

Many investors have essentially agreed to swallow horrific corporate profits and economic data in upcoming months, and they’re turning their focus to who can survive and eventually grow their profits in the future.

Next week will be one of the busiest of this earnings season, with more than 150 companies in the S&P 500 reporting how much they made during the first three months of the year. Many companies have been pulling their profit forecasts entirely for 2020 given all the uncertainty, and Wall Street is slashing its own estimates.

“I don’t really think that’s added to the concern of investors because they assume that companies will be doing a lot of writing down in this bad year so that 2021 could look even better,” said CFRA’s Stovall.

The S&P 500 added 38.94 points to 2,836.74. The Dow Jones Industrial Average rose 260.01, or 1.1%, to 23,775.25, and the Nasdaq composite added 139.77, or 1.7%, to 8,634.52.

Gains for big tech stocks led the way. Tech makes up an outsized portion of the S&P 500 following years of market dominance. And because changes in market value dictate the index’s moves, the performance of the biggest stocks can have a disproportionate effect.

Stocks have been generally rallying since late March on promises for massive aid from Congress and the Federal Reserve, along with more recent hopes that parts of the economy may be close to reopening. In Georgia, some businesses began welcoming back customers on Friday after the governor eased a monthlong shutdown.

But many professional investors have been skeptical of the market‘s recent rally. They say there’s still too much uncertainty about how long the recession will last and that attempts to reopen the economy could trigger more waves of infections if they’re premature.

In a demonstration of how hungry the market is for a vaccine or treatment for COVID-19, the S&P 500 erased a rally of more than 1% in a span of seconds on Thursday following a discouraging report about a potential drug treatment. The Financial Times said a Chinese study of the drug found no positive effect, citing data published accidentally by the World Health Organization, though the company behind the drug said the data represented “inappropriate characterizations” of the study.

Through all the volatility, many investors saving for retirement have been holding steady. They’re calling in for advice much more often, but the majority of savers with 401(k) accounts at Fidelity did not pull back on their contributions during the quarter.

The S&P 500 is down 16.2% from its record in February, though it’s more than halved its loss since late March.

The price of a barrel of U.S. oil to be delivered in June rose 2.7% to settle at $16.94. It had sunk as low as $6.50 earlier this week on worries that storage tanks are close to topping out amid a collapse in demand. Worries about extra oil with nowhere to go sent prices in one corner of the U.S. oil market below zero on Monday.

Brent crude, the international standard, rose 0.5% to $21.44 per barrel.

The yield on the 10-year Treasury note slipped to 0.60% from 0.61% late Thursday. Yields tend to fall when investors are downgrading their expectations for the economy and inflation.

European and Asian stock markets fell.

794


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## bigdog

*ASX 200 expected to jump higher.*
The ASX 200 looks set to jump higher on Monday morning after a positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 index is expected to open 1.6% or 82 points higher this morning. On Friday on Wall Street the Dow Jones climbed 1.1%, the S&P 500 rose 1.4%, and the Nasdaq index stormed 1.7% higher.


----------



## bigdog

Stocks rallied worldwide Monday as governments prepare to gradually lift restrictions they imposed on businesses to slow the sweep of the coronavirus pandemic.

With governments making moves toward letting businesses reopen, stocks rallied worldwide on Monday to kick off a busy week for markets.

From Rome, Georgia, to Rome, Italy, companies are watching as politicians detail plans to ease up on restrictions that were meant to slow the coronavirus pandemic but also erased businesses and jobs. Retail chains, cruise lines and other businesses whose profits hinge on people stepping outside their homes jumped to some of Monday’s biggest gains. The S&P 500 climbed 1.5%.

This week is chockablock with potentially market-moving events, including meetings for several of the world’s largest central banks. Nearly a third of the companies in the S&P 500 are also scheduled to report how profitable they were in the first three months of 2020 and, more importantly, perhaps talk about how they see future conditions shaking out.

With central banks and governments promising overwhelming amounts of aid for markets, some investors are looking beyond the economic devastation currently sweeping the world. They’re focusing instead on the potential return of growth as the outbreak levels off in some areas.

Treasury yields pushed higher in an indication of less pessimism in the market, but crude tanked again in the latest extreme swing that’s dominated oil markets in recent weeks.

The S&P 500 rose 41.74 points to 2,878.48. The Dow Jones Industrial Average gained 358.51, or 1.5%, to 24,133.78, and the Nasdaq climbed 95.64, or 1.1%, to 8,730.16.

Monday’s gains were widespread and accelerated though the day. At the head of the pack were some of the stocks hardest and earliest hit by the coronavirus pandemic.

Banks and other financial companies rose 3.6% for the biggest gain among the 11 sectors that make up the S&P 500. They had tumbled earlier on worries about waves of households and businesses defaulting on their loans.

*ASX 200 expected to rise.*
The ASX 200 looks set to continue its positive run on Tuesday after a positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 index is expected to open 10 points or 0.2% higher this morning. On Wall Street the Dow Jones climbed 1.5%, the S&P 500 rose 1.5%, and the Nasdaq index pushed 1.1% higher.











https://www.usnews.com/news/busines...kets-gain-as-more-economies-prepare-to-reopen


*Stocks up Worldwide as Governments Eye Reopening Economies*
Stocks rallied worldwide Monday as governments prepare to gradually lift restrictions they imposed on businesses to slow the sweep of the coronavirus pandemic.
By Associated Press, Wire Service Content April 27, 2020, at 4:57 p.m

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

With governments making moves toward letting businesses reopen, stocks rallied worldwide on Monday to kick off a busy week for markets.

From Rome, Georgia, to Rome, Italy, companies are watching as politicians detail plans to ease up on restrictions that were meant to slow the coronavirus pandemic but also erased businesses and jobs. Retail chains, cruise lines and other businesses whose profits hinge on people stepping outside their homes jumped to some of Monday’s biggest gains. The S&P 500 climbed 1.5%.

This week is chockablock with potentially market-moving events, including meetings for several of the world’s largest central banks. Nearly a third of the companies in the S&P 500 are also scheduled to report how profitable they were in the first three months of 2020 and, more importantly, perhaps talk about how they see future conditions shaking out.

With central banks and governments promising overwhelming amounts of aid for markets, some investors are looking beyond the economic devastation currently sweeping the world. They’re focusing instead on the potential return of growth as the outbreak levels off in some areas.

Treasury yields pushed higher in an indication of less pessimism in the market, but crude tanked again in the latest extreme swing that’s dominated oil markets in recent weeks.

The S&P 500 rose 41.74 points to 2,878.48. The Dow Jones Industrial Average gained 358.51, or 1.5%, to 24,133.78, and the Nasdaq climbed 95.64, or 1.1%, to 8,730.16.

“We’re in recession, it’s a long recovery from here,” said Joe Seydl, capital markets economist at J.P. Morgan Private Bank. But the distance between those two points “is starting to look a little bit better than a few weeks ago because it looks like we’re past the worst of it.”

Monday’s gains were widespread and accelerated though the day. At the head of the pack were some of the stocks hardest and earliest hit by the coronavirus pandemic.

Banks and other financial companies rose 3.6% for the biggest gain among the 11 sectors that make up the S&P 500. They had tumbled earlier on worries about waves of households and businesses defaulting on their loans.

The reopening of some businesses in Georgia and other states, along with a slowdown in hospitalizations in the hardest-hit state of New York, helped revive financial stocks. So did a rise in Treasury yields, which mean bigger profits for making loans. The sector is still down 26.9% for the year.

Retail chains and real-estate investment trusts that own shopping malls also recovered some of their earlier losses as investors looked toward a future where people visit stores again. Even travel-related stocks, which fell before the rest of the market on worries about the coronavirus outbreak, were strong.

Stocks of smaller companies jumped more than the rest of the market. With smaller financial buffers, small-cap stocks often get punished more than their bigger rivals when investors are anticipating downturns, but they can also rise faster during rebounds. The Russell 2000 of small-cap stocks rose 4%.

The market’s big recent gains, though, are built more on hope for improving conditions than on anything certain. Some investors are worried that reopenings of businesses, if done hastily, could lead to a second wave of infections, and many warn that it’s still too uncertain how long this recession will last.

“The sense I get is people are not going to be comfortable with life as usual,” said Marc Chaikin, founder of Chaikin Analytics. “It’s a big leap of faith to expect that earnings are going to go back to pre-2020 levels.”

Even if the economy is past the worst of its downturn, “it’s going to be a long way back from where we were in 2019,” said Seydl of J.P. Morgan Private Bank.

Markets began Monday with jumps in Asia after Japan’s central bank scrapped its ceiling on how much government debt it will buy to support the economy. Japan’s Nikkei 225 rose 2.7%, while South Korea’s Kospi added 1.8% and the Hang Seng in Hong Kong added 1.9%.

In Europe, Italy laid out a timetable for easing restrictions, and other countries are set to detail their plans soon. The German DAX climbed 3.1%, while the French CAC 40 rose 2.5% and the FTSE 100 in London added 1.6%.

In the U.S., roughly 150 companies in the S&P 500 are scheduled to report earnings this week. That includes the Big Five of Amazon, Apple, Facebook, Microsoft and Google’s parent, Alphabet, which together make up about a fifth of the index.

The yield on the 10-year Treasury rose to 0.65% from 0.59% late Friday. It’s still well below the 1.90% level it was near at the start of the year, though. Yields tend to drop when investors are downgrading their expectations for the economy and inflation.

In energy markets, the cost for a barrel of U.S. oil to be delivered in June fell $4.16, or 24.6%, to settle at $12.78 a barrel. Brent crude, the international standard, fell $1.45, or 6.8%, $19.99 a barrel.

Prices have been swinging wildly as demand for energy collapses and storage tanks come close to topping out.

“There’s a huge oversupply we’ve been left with due to the incredibly sharp drop in consumption,” said Richard Swann, editorial director for Americas oil markets at S&P Global Platts.


----------



## bigdog

Wall Street jostled to a mixed finish Tuesday, as former stalwarts ran out of momentum and some of the market’s most beaten-down stocks turned into winners.

The S&P 500 slipped 0.5% after stocks that have held up the best through this year’s sell-off fell to some of the market’s sharpest drops. They included health care companies, big tech titans and winners of the stay-at-home economy, such as Netflix and Amazon.

Those are big companies, which give their movements outsized effect on the S&P 500. But nearly twice as many stocks rose in the index than fell. Among the winners were travel companies, shopping-mall owners and other businesses that got hammered after widespread stay-at-home orders locked away their customers. Some U.S. states and nations around the world are gradually lifting restrictions implemented to slow the spread of the coronavirus outbreak.

All the washing around left the S&P 500 with a loss of 15.09 points to 2,863.39, its first in three days. The index was up as much as 1.5% early in the morning before it quickly gave out, and the index spent much of the day flipping between small gains and losses.

It coincided with another wild day for oil prices, where a barrel of U.S. oil for delivery in June fell close to $10 before paring its losses, as swelling supplies continue to far exceed demand.

The fluctuations are a sign of a market still dominated by uncertainty about how the recession caused by the coronavirus outbreak will play out, said Tom Martin, senior portfolio manager at Globalt Investments.

“The market is kind of biding its time, in a sense, and waiting to see what happens with regard to the virus itself,” he said. “Because the thing that matters the most to stocks is how much longer is this going to last. And sure, we can reopen, but how slow is that going to be? And even if it becomes more rapid, is there going to be a second wave or a resurgence” of infections?

Like the stocks within the market, the day’s leaderboard for U.S. indexes was close to a mirror opposite of their performance for the year so far.

The Nasdaq, which is dominated by big tech stocks and is the only major U.S. index up over the last year, fell 122.43, or 1.4%, to 8,607.73. The Russell 2000, which got beat up more than the rest of the market on worries about small companies’ financial strength, climbed 16.20, or 1.3%, to 1,298.08.

The Dow Jones Industrial Average slipped 32.23 points, or 0.1%, to 24,101.55. It, like other indexes, gave up its gains after a report in the morning showed U.S. consumer confidence fell to its lowest level in nearly six years.

*ASX 200 expected to rise.*
According to the latest SPI futures, the ASX 200 index is expected to push higher this morning. Current futures contracts are pointing to a rise of 16 points or 0.3% at the open. This is despite a weak night of trade on Wall Street. The Dow Jones fell 0.1%, the S&P 500 dropped 0.5%, and the Nasdaq index tumbled 1.4% lower.










https://apnews.com/f3c24dcc58f0c775c4ce5ab1d24f5d28

*Slumping tech favorites pull major US stock indexes lower*
By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Wall Street jostled to a mixed finish Tuesday, as former stalwarts ran out of momentum and some of the market’s most beaten-down stocks turned into winners.

The S&P 500 slipped 0.5% after stocks that have held up the best through this year’s sell-off fell to some of the market’s sharpest drops. They included health care companies, big tech titans and winners of the stay-at-home economy, such as Netflix and Amazon.

Those are big companies, which give their movements outsized effect on the S&P 500. But nearly twice as many stocks rose in the index than fell. Among the winners were travel companies, shopping-mall owners and other businesses that got hammered after widespread stay-at-home orders locked away their customers. Some U.S. states and nations around the world are gradually lifting restrictions implemented to slow the spread of the coronavirus outbreak.

All the washing around left the S&P 500 with a loss of 15.09 points to 2,863.39, its first in three days. The index was up as much as 1.5% early in the morning before it quickly gave out, and the index spent much of the day flipping between small gains and losses.

It coincided with another wild day for oil prices, where a barrel of U.S. oil for delivery in June fell close to $10 before paring its losses, as swelling supplies continue to far exceed demand.

The fluctuations are a sign of a market still dominated by uncertainty about how the recession caused by the coronavirus outbreak will play out, said Tom Martin, senior portfolio manager at Globalt Investments.

“The market is kind of biding its time, in a sense, and waiting to see what happens with regard to the virus itself,” he said. “Because the thing that matters the most to stocks is how much longer is this going to last. And sure, we can reopen, but how slow is that going to be? And even if it becomes more rapid, is there going to be a second wave or a resurgence” of infections?

Like the stocks within the market, the day’s leaderboard for U.S. indexes was close to a mirror opposite of their performance for the year so far.

The Nasdaq, which is dominated by big tech stocks and is the only major U.S. index up over the last year, fell 122.43, or 1.4%, to 8,607.73. The Russell 2000, which got beat up more than the rest of the market on worries about small companies’ financial strength, climbed 16.20, or 1.3%, to 1,298.08.

The Dow Jones Industrial Average slipped 32.23 points, or 0.1%, to 24,101.55. It, like other indexes, gave up its gains after a report in the morning showed U.S. consumer confidence fell to its lowest level in nearly six years.

With massive aid in place for the economy from central banks and governments, stocks have been building higher in recent weeks on anticipation that stay-at-home orders will gradually lift as infections level off in some hard-hit areas. Even though data continues to pile up showing the devastation hitting the economy following worldwide orders for businesses to shut down, some investors are looking past it to the prospect of a return of growth in the future.

“Hope is trumping caution this week so far,” said Katie Nixon, chief investment officer at Northern Trust Wealth Management.

Harley-Davidson jumped 15.2% after laying out plans to slash costs and preserve cash, including a cut of its dividend and a halt to its stock buyback program. Norwegian Cruise Line rose 14.4%, and Kimco Realty, which owns shopping centers, added 9.1%

Companies whose fortunes are tied most closely to the strength of the economy were also leading the way. Energy stocks rose 2.2% for the biggest gain among the 11 sectors that make up the S&P 500. Raw-material producers were close behind with a gain of 2%.

On the opposite side was Netflix, which set record highs recently as viewers around the world remained stuck at home. It slipped 4.2%. Other stay-at-home winners also fell, including a 2.6% drop for Amazon and a 1.1% dip for Clorox, whose disinfecting wipes have seen a surge in demand.

Many professional investors are skeptical of the stock market’s big rally, which has driven the S&P 500 up 28% since hitting a low late last month. Besides the possibility that premature reopenings of economies could lead to another wave of infections, they’re wary of how quickly stocks have risen — nearly as fast as they had earlier dropped in anticipation of a severe recession.

The economy’s recovery may drag for a while as people tiptoe back to “normal” life and shopping patterns. That disconnect between a quick rebound for stocks and a potentially slower recovery for the economy could cause a reckoning later on.

Treasury yields, which had sent warning signals about the disastrous economic effects of the pandemic long before the stock market did, were down.

The yield on the 10-year Treasury fell to 0.61% from 0.65% late Monday. Yields tend to fall when investors are downgrading expectations for the economy and inflation.

Inflation recently has gotten weighed down by a plunge in oil prices. With airplanes, autos and factories around the world idled, demand has collapsed for energy, and producers have not cut back quickly enough. All the extra oil has flowed into storage tanks, which are close to hitting their limits.

A barrel of U.S. oil for delivery in June fell 44 cents, or 3.4%, to settle at $12.34 in volatile trading. It dropped as low as $10.07 earlier in the morning. Brent crude, the international standard, rose 47 cents, or 2.4%, to settle at $20.46 a barrel.

European stocks were strong following a mixed showing in Asian markets.


----------



## bigdog

Stocks around the world whipped higher Wednesday, riding a wave of optimism on encouraging data about a possible treatment for COVID-19.

The upswell of hope was so strong that investors completely sidestepped a report showing the outbreak drove the U.S. economy to its worst quarterly performance since the Great Recession. The S&P 500 vaulted 2.7% higher and extended a rally that’s brought the U.S. stock market to the brink of its best month in 45 years.

The spark for Wednesday’s rally was a report that an experimental drug proved effective against the new coronavirus in a study run by the National Institutes of Health. The nation’s top infectious diseases expert said the drug reduced the time it takes patients to recover, and it raised hopes that life around the world may eventually tiptoe back toward “normal.”

The S&P 500 rose 76.12 points to 2,939.51. It has surged 13.7% in April, and it’s a day away from closing out its best month since late 1974.

The Dow Jones Industrial Average rose 532.31, or 2.2%, to 24,633.86, and the Nasdaq climbed 306.98, or 3.6%, to 8,914.71.

“What you’re finding now is you have this debate between optimism and realism,” said Adam Taback, chief investment officer for Wells Fargo Private Wealth Management.

The Federal Reserve said Wednesday that it expects the health crisis to weigh on the economy “over the medium term,” as it promised to keep in place massive amounts of aid and interest rates at nearly zero. Oil prices, bonds and other markets besides stocks have also been dominated in recent weeks by worries about the economic impact of the virus outbreak.

*ASX 200 expected to surge higher.*
It looks set to be a very positive day for the ASX 200 index on Thursday. According to the latest futures contracts, the ASX 200 is expected to surge 101 points or 1.9% higher at the open. This follows a strong night on Wall Street which saw the Dow Jones rise 2.2%, the S&P 500 climb 2.66%, and the Nasdaq index storm 3.6% higher. Positive data from Gilead Sciences’ remdesivir corona-virus trial sent the market racing higher.










https://www.usnews.com/news/busines...ain-after-france-spain-unveil-reopening-plans

*Stocks Charge Higher on Hopes for Progress in Fighting Virus*
Stocks charged higher around the world Wednesday following an encouraging report on a possible treatment for COVID-19.
By Associated Press, Wire Service Content April 29, 2020, at 4:49 p.m. 

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks around the world whipped higher Wednesday, riding a wave of optimism on encouraging data about a possible treatment for COVID-19.

The upswell of hope was so strong that investors completely sidestepped a report showing the outbreak drove the U.S. economy to its worst quarterly performance since the Great Recession. The S&P 500 vaulted 2.7% higher and extended a rally that’s brought the U.S. stock market to the brink of its best month in 45 years.

The spark for Wednesday’s rally was a report that an experimental drug proved effective against the new coronavirus in a study run by the National Institutes of Health. The nation’s top infectious diseases expert said the drug reduced the time it takes patients to recover, and it raised hopes that life around the world may eventually tiptoe back toward “normal.”

The S&P 500 rose 76.12 points to 2,939.51. It has surged 13.7% in April, and it’s a day away from closing out its best month since late 1974.

The Dow Jones Industrial Average rose 532.31, or 2.2%, to 24,633.86, and the Nasdaq climbed 306.98, or 3.6%, to 8,914.71.

“What you’re finding now is you have this debate between optimism and realism,” said Adam Taback, chief investment officer for Wells Fargo Private Wealth Management.

The Federal Reserve said Wednesday that it expects the health crisis to weigh on the economy “over the medium term,” as it promised to keep in place massive amounts of aid and interest rates at nearly zero. Oil prices, bonds and other markets besides stocks have also been dominated in recent weeks by worries about the economic impact of the virus outbreak.

“Everything except equities is telling you things are not great,” Taback said. “This market is overly optimistic.”

Gilead’s release about its remdesivir drug hit markets at the same moment as a government report showing the U.S. economy shrank at a 4.8% annual rate in the first three months of the year.

Job losses have exploded since early April, as layoffs sweep the nation following widespread stay-at-home orders, and economists expect to see even worse numbers for the second quarter of the year.

The first quarter figure was “merely the tip of the iceberg,” said Michael Reynolds, investment strategy officer at Glenmede.

But stocks have been rallying over the last month as investors look beyond the current economic devastation and focus instead on the prospect of economies gradually reopening. Some U.S. states and nations around the world have laid out plans to relax restrictions keeping people at home and businesses bereft of customers. Any new treatment for COVID-19 could also lower the dread so prevalent among households and businesses around the world.

But what got the 31.4% rally for the S&P 500 started in late March was massive aid from the Federal Reserve and Congress. The Fed on Wednesday said it wouldn’t be pulling back on the aid anytime soon.

The market’s easing pessimism about the economy’s path is perhaps most clear in how the smallest stocks have been performing.

When recession worries were at their height, investors punished small-cap stocks and sent them to sharper declines than the rest of the market, in part on worries about their more limited financial resources. But the Russell 2000 index of small-cap stocks jumped 4.8% Wednesday. It’s up 10.4% this week alone, more than double the gain for indexes of bigger stocks.

The market’s gains were widespread and accelerated through the day. Big tech and communications stocks helped lead the way after Google’s parent company said its revenue was stronger in the first three months of the year than Wall Street was expecting.

Alphabet jumped nearly 9%, which helped communications stocks in the S&P 500 rise 5% for one of the biggest gains among the 11 sectors that make up the index.

In Europe, the French CAC 40 rose 2.2% after being down before the Gilead report. The German DAX returned 2.9%, and the FTSE 100 in London added 2.6%. In Asia, Hong Kong’s Hang Seng added 0.3%, and the Kospi in Seoul advanced 0.7%.

Many professional investors are skeptical of the U.S. stock market’s big rally. There’s still a lot of uncertainty about how long the recession will last.

The vigorous rise for stocks over the last month also implies investors see a relatively quick rebound for the economy and profits following the current devastation. But it may take a while for households and businesses to get back to how things used to be.

“My concern is that the market is starting to get a little bit more focused on the rewards and less focused on the risks right now,” said Sal Bruno, chief investment officer at IndexIQ. “Maybe investors are getting a little too enthusiastic.”

“I don’t think you just flip the switch and everybody goes back to work right away,” he said.

The yield on the 10-year U.S. Treasury rose to 0.62% from 0.61% late Tuesday after paring earlier losses. Yields tend to rise when investors are upgrading expectations for the economy and inflation.

Oil prices are continuing their extreme swings after a collapse in demand has sent crude storage tanks close to their limits. Benchmark U.S. crude oil for June delivery rose $2.72, or 22%, to settle at $15.06 a barrel Wednesday. Brent crude oil, the international standard, rose $2.08, or 10.2%, to $22.54 a barrel.


----------



## bigdog

A crush of dismal data about the economy helped send markets lower Thursday, a meek ending to a historic, juggernaut month for stocks.

The S&P 500 fell 0.9% after reports showed millions more U.S. workers filed for unemployment benefits last week and the European economy crumpled to its worst performance on record last quarter, among other lowlights. It was the biggest loss for the U.S. stock market in more than a week, but it was still just a wiggle within the S&P 500’s best month in decades.

The index surged 12.7% in April, its biggest monthly gain since 1987. Before Thursday’s fall, it had been on track for its best month since 1974 as stocks recouped more than half their 34% plunge from February into late March on worries about a sudden, devastating recession.

“The disconnect between the market and the economy in April is about as wide as any of us have ever seen,” said Ryan Detrick, senior market strategist for LPL Financial.

Promises from the Federal Reserve to do whatever it takes to prop up the economy through the coronavirus crisis helped spark the rally, as did trillions in spending by Congress. The rally has continued recently on optimism that economies around the world are close to reopening. All but 27 stocks in the S&P 500 climbed during April.

The month’s gains for stocks came in the face of mayhem in the oil market, where prices in one corner dipped below zero for the first time, and as investors continued to rush into U.S. government bonds in search of safety. Reports piled up by the day showing the severe hits the economy is taking from widespread stay-at-home orders meant to slow the spread of the virus.

It all left many professional investors skeptical about the steep rebound in stocks, whose rapid ascent resembles a “V” on a line chart following its equally sharp decline, when there’s still too much uncertainty about how long the recession will last.

“The rebound in April was an assumption that this was going to be a short, V-shaped recovery, both economically and at the corporate and business level,” said David Lyon, global investment specialist at J.P. Morgan Private Bank. “In our view, it probably has gotten a little ahead of itself. We think it’s going to be a longer and slower recovery.”

He said it could take a couple years before the economy and people’s behaviors get back to what they were like before the outbreak.

Thursday’s deluge of dour economic data — along with some investors looking to sell after weeks of gains — was enough to send 86% of stocks in the S&P 500 down and European stocks sharply lower.

The S&P 500 fell 27.08 points to 2,912.43. The Dow Jones Industrial Average lost 288.14, or 1.2%, to 24,345.72, and the Nasdaq fell 25.16, or 0.3%, to 8,889.55.

*ASX 200 expected to sink lower.*
The ASX 200 index looks set for a disappointing end to the week and could give back all of yesterday’s gain. According to the latest futures contracts, the ASX 200 is expected to fall 119 points or 2.15% lower. This follows a weak night of trade in the United States which saw the Dow Jones fall 1.2%, the S&P 500 drop 0.9%, and the Nasdaq index down 0.3%.










https://www.usnews.com/news/busines...s-rise-on-hopes-for-drug-to-treat-coronavirus

*Wall Street’s Best Month in 33 Years Closes With Whimper*
Stocks fell on Wall Street Thursday as more grim news piled up revealing the grave economic damage being caused by the coronavirus outbreak.
By Associated Press, Wire Service Content April 30, 2020, at 5:20 p.m.

By STAN CHOE, ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

A crush of dismal data about the economy helped send markets lower Thursday, a meek ending to a historic, juggernaut month for stocks.

The S&P 500 fell 0.9% after reports showed millions more U.S. workers filed for unemployment benefits last week and the European economy crumpled to its worst performance on record last quarter, among other lowlights. It was the biggest loss for the U.S. stock market in more than a week, but it was still just a wiggle within the S&P 500’s best month in decades.

The index surged 12.7% in April, its biggest monthly gain since 1987. Before Thursday’s fall, it had been on track for its best month since 1974 as stocks recouped more than half their 34% plunge from February into late March on worries about a sudden, devastating recession.

“The disconnect between the market and the economy in April is about as wide as any of us have ever seen,” said Ryan Detrick, senior market strategist for LPL Financial.

Promises from the Federal Reserve to do whatever it takes to prop up the economy through the coronavirus crisis helped spark the rally, as did trillions in spending by Congress. The rally has continued recently on optimism that economies around the world are close to reopening. All but 27 stocks in the S&P 500 climbed during April.

The month’s gains for stocks came in the face of mayhem in the oil market, where prices in one corner dipped below zero for the first time, and as investors continued to rush into U.S. government bonds in search of safety. Reports piled up by the day showing the severe hits the economy is taking from widespread stay-at-home orders meant to slow the spread of the virus.

It all left many professional investors skeptical about the steep rebound in stocks, whose rapid ascent resembles a “V” on a line chart following its equally sharp decline, when there’s still too much uncertainty about how long the recession will last.

“The rebound in April was an assumption that this was going to be a short, V-shaped recovery, both economically and at the corporate and business level,” said David Lyon, global investment specialist at J.P. Morgan Private Bank. “In our view, it probably has gotten a little ahead of itself. We think it’s going to be a longer and slower recovery.”

He said it could take a couple years before the economy and people’s behaviors get back to what they were like before the outbreak.

Thursday’s deluge of dour economic data — along with some investors looking to sell after weeks of gains — was enough to send 86% of stocks in the S&P 500 down and European stocks sharply lower.

The S&P 500 fell 27.08 points to 2,912.43. The Dow Jones Industrial Average lost 288.14, or 1.2%, to 24,345.72, and the Nasdaq fell 25.16, or 0.3%, to 8,889.55.

“This is the saddest day for the global economy we have ever seen” in the 50 years that economists at High Frequency Economics have been following economic data, they wrote in a report. “The statistical offices of the economies we watch pumped out 19 economic reports overnight. They revealed historic declines of activity and surging unemployment on a scale we have never seen before. We are sad.”

Besides the jobless figures in the United States, which brought the total to 30 million in just six weeks, data released on Thursday showed that consumer spending plunged a record 7.5% in March from the prior month. That’s crucial for an economy where consumer spending makes up 70% of the total.

Stocks that tend to be most closely tied to the strength of the economy had the day’s biggest losses. Raw-material producers lost 3% for the largest loss among the 11 sectors that make up the S&P 500. Financial and energy stocks were close behind.

“This is a bit of fear that there is not enough of a rebound to restart the parts of the economy that are not connected to work-from-home,” said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management.

Some big tech titans reported results for the first quarter that weren’t as bad as investors had braced for, which helped limit the market’s losses. Facebook rose 5.4% after it reported trends in advertising revenue stabilized in April following a steep drop-off in March. Microsoft added 1% after reporting better-than-expected results for the first quarter.

Among European countries that use the euro, the economy shrank by 3.8% in the first three months of the year from the quarter before. That’s the biggest contraction since records began in 1995. Discouraging data also came in on China’s economy, which is concerning for anyone expecting a first-in-first-out economic wave.

“As we look to reopening here in the U.S., the hope is that activity bounces,” Haworth said. “China is certainly ahead of us in reopening and for them not to have a bounce a full month in is a little concerning for the market.”

The yield on the 10-year Treasury edged up to 0.63% from 0.62% late Wednesday. It started the year close to 1.90%. Treasury yields tend to fall when investors are downgrading their expectations for the economy and inflation.

Benchmark U.S. crude oil continued its extreme swings, jumping $3.78, or 25.1%, to settle at $18.84 per barrel. It’s still way below the roughly $60 level where it started the year as worries pile up about the effects of a collapse in demand and as storage tanks fill close to their limits. Brent crude rose $2.73, or 12.1%, to $25.27.


----------



## bigdog

Stocks closed broadly lower on Wall Street Friday after Amazon and other big companies reported disappointing results, the latest evidence of how the coronavirus pandemic is hobbling the economy and hurting corporate earnings.

A day after closing out its best month since 1987, the S&P 500 fell 2.8%. The slide gave the benchmark index its second-straight weekly loss.

The selling accelerated as the day went on, with energy stocks taking the biggest losses. Technology stocks and companies that rely on consumer spending accounted for a big slice of the decline.

Amazon sank 7.6% after it reported profit for the latest quarter that fell short of Wall Street’s forecasts. A sharp increase in costs related to providing deliveries safely during the pandemic outweighed a big increase in revenue. The retail giant's movements have an outsized sway on the S&P 500 because it’s the third-largest company in the index.

“We all had these great expectations for Amazon,” said J.J. Kinahan, chief strategist with TD Ameritrade. “The stock ran up amazingly because we were expecting their earnings to be good.”

The S&P 500 gave up 81.72 points to close at 2,830.71. The Dow Jones Industrial Average fell 622.03 points, or 2.6%, at 23,723.69. At one point, the index was down 700 points.

The Nasdaq, which is heavily weighed with technology stocks, slid 284.60 points, or 3.2%, to 8,604.95. The Russell 2000 index of smaller company stocks fell more than the rest of the market, shedding 50.18 points, or 3.8%, to 1,260.48.

Exxon Mobil's latest results also weighed on the market. The oil producer fell 7.2% after it said that it swung to a loss of $610 million last quarter. It had to write down the value of its inventories by $2.9 billion amid a collapse in energy prices as airplanes, automobiles and workplaces worldwide suddenly went idle in the spring.










*One Month Chart*











https://www.usnews.com/news/busines...all-after-wall-st-slips-on-grim-economic-news

*Stocks Slide as Amazon, Other Companies Detail Virus Fallout*
Stocks ended lower on Wall Street Friday, giving up their gains for the week, after Amazon and other big companies laid out how the coronavirus pandemic is hitting their bottom lines.

By Associated Press, Wire Service Content May 1, 2020, at 4:49 p.m.

By STAN CHOE, ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Stocks closed broadly lower on Wall Street Friday after Amazon and other big companies reported disappointing results, the latest evidence of how the coronavirus pandemic is hobbling the economy and hurting corporate earnings.

A day after closing out its best month since 1987, the S&P 500 fell 2.8%. The slide gave the benchmark index its second-straight weekly loss.

The selling accelerated as the day went on, with energy stocks taking the biggest losses. Technology stocks and companies that rely on consumer spending accounted for a big slice of the decline.

Amazon sank 7.6% after it reported profit for the latest quarter that fell short of Wall Street’s forecasts. A sharp increase in costs related to providing deliveries safely during the pandemic outweighed a big increase in revenue. The retail giant's movements have an outsized sway on the S&P 500 because it’s the third-largest company in the index.

“We all had these great expectations for Amazon,” said J.J. Kinahan, chief strategist with TD Ameritrade. “The stock ran up amazingly because we were expecting their earnings to be good.”

The S&P 500 gave up 81.72 points to close at 2,830.71. The Dow Jones Industrial Average fell 622.03 points, or 2.6%, at 23,723.69. At one point, the index was down 700 points.

The Nasdaq, which is heavily weighed with technology stocks, slid 284.60 points, or 3.2%, to 8,604.95. The Russell 2000 index of smaller company stocks fell more than the rest of the market, shedding 50.18 points, or 3.8%, to 1,260.48.

Exxon Mobil's latest results also weighed on the market. The oil producer fell 7.2% after it said that it swung to a loss of $610 million last quarter. It had to write down the value of its inventories by $2.9 billion amid a collapse in energy prices as airplanes, automobiles and workplaces worldwide suddenly went idle in the spring.

The slide by Exxon Mobil helped drive energy stocks across the S&P 500 to a 6% loss, the largest among the 11 sectors that make up the index.

Wall Street has been bracing for a poor showing by companies this earnings season due to the economic shock from the coronavirus. Many companies have pulled their earnings guidance for the rest of the year, citing uncertainty about how much of an impact the outbreak will have on their business and the economy, which is now in a recession.

“There’s an expectation that we’ll have a very difficult second quarter for GDP and profits, and the third quarter will probably still be difficult,” said Jason Pride, chief investment officer of private wealth at Glenmede.

That has many analysts looking past the next few months and betting on a recovery by the end of this year or in 2021. “But, that’s predicated on us not having a second wave of the outbreak,” Pride said.

Disappointing company results weren't the only drag on stocks Friday. Shares of electric car and solar panel maker Tesla Inc. slid 10.3% after CEO Elon Musk tweeted that the price was too high. In a series of tweets just after 11 a.m., Musk said he was selling nearly all of his physical possessions and would not own a house. Then he wrote that “Tesla stock price is too high imo.” After that he tweeted that people should be given back their freedom, in another protest of government stay-home orders to slow the spread of coronavirus. Then he posted parts of the U.S. national anthem.

“Clearly the Street is frustrated at this tweet,” Wedbush analyst Daniel Ives wrote in an email, adding that the tweets amounted to “Elon being Elon."

Stocks rallied last month as economies around the world laid out plans to relax stay-at-home orders and hopes rose that a possible drug treatment for COVID-19 may be on the horizon. Late Friday, U.S. regulators allowed emergency use of an experimental drug that appears to help some coronavirus patients recover faster.

The market posted sizable gains after the Federal Reserve and Congress announced aggressive meaures to support markets and the economy. Stocks have now more than halved the sharp losses they took from its February record high into late March.

Many professional investors say the rally has been overdone given how much uncertainty still exists about how long the recession will last. If U.S. states and nations around the world reopen their economies prematurely, it may lead to additional waves of infections, which could mean more business closures, layoffs and economic devastation.

“Overall, we're generally positive on the market, but think there could be some short-term pullback here,” said George Rusnak, head of investment strategy at Wells Fargo Private Wealth Management.

The yield on the 10-year Treasury held steady at 0.62%. It’s still well below the roughly 1.90% level where it was at the start of the year.

Benchmark U.S. crude oil rose 5% to settle at $19.78 per barrel. U.S. crude has plunged from its perch of roughly $60 at the start of the year on worries about a collapse in demand and strained storage facilities. Brent crude, the international standard, slipped 0.4%, to close at $26.44 per barrel.

221


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## bigdog

*ASX 200 expected to edge lower.*
The ASX 200 looks set to continue its slide on Monday. Current SPI futures are pointing to a 7 point or 0.1% decline at the open. This follows a poor end to the week on Wall Street. On Friday the Dow Jones fell 2.6%, the S&P 500 dropped 2.8%, and the Nasdaq index sank 3.2% lower. Tech giant Amazon was out of form and dropped 7% in response to its quarterly result


----------



## bigdog

Stocks shook off an early stumble and scratched out small gains on Wall Street Monday, as the market’s momentum slows following its best month in decades.

The S&P 500 added 0.4% and narrowly avoided what would have been its first three-day losing streak in nearly two months. The Dow eked out a 0.1% gain, while the Nasdaq rose 1.2%.

When U.S. trading opened, the market appeared set for a uniformly depressing day. The S&P 500 dove 1.2% almost immediately, with airlines sinking particularly sharply after famed investor Warren Buffett said he’d dumped all his shares in the four biggest U.S. carriers. A ramping up of tensions between the White House and China over the origins and handling of the coronavirus pandemic was also weighing on markets around the world.

But big tech stocks, whose momentum has been nearly unstoppable in recent years, continued to rally and helped the market trim its losses. Energy stocks also helped steady the market after the price of oil pulled a bit further from the record lows set late last month.

The S&P 500 rose 12.03 points to 2,842.74. The Dow Jones Industrial Average added 26.07 to 23,749.76, and the Nasdaq gained 105.77 to 8,710.71.

The market is “searching for direction at this point,” said Sam Stovall, chief investment strategist at CFRA.

After plunging by just over a third from February into late March on worries about a coming, severe recession, the stock market has since more than halved its losses on hopes that infections are leveling off and that growth could resume later this year amid a gradually reopening economy.

The S&P 500 surged 12.7% in April for its best monthly performance in 33 years. The month has historically been one of the best of the year for U.S. stocks, while May has been more of a struggle.

*ASX 200 expected to rise again.*
It looks set to be another positive day for the ASX 200 on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 27 points or 0.5% higher this morning. This follows a positive start to the week on Wall Street which saw the Dow Jones rise 0.1%, the S&P 500 push 0.4% higher, and the Nasdaq index jump 1.2%. U.S. tech shares did a lot of the heavy lifting overnight.










https://www.usnews.com/news/busines...n-asia-on-rising-china-us-tensions-over-virus

*Stocks Shake off an Early Loss and End Higher, Led by Tech*
The stock market shook off a weak start and ended with modest gains Monday, thanks to another solid showing from big technology companies.
By Associated Press, Wire Service Content May 4, 2020, at 4:29 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks shook off an early stumble and scratched out small gains on Wall Street Monday, as the market’s momentum slows following its best month in decades.

The S&P 500 added 0.4% and narrowly avoided what would have been its first three-day losing streak in nearly two months. The Dow eked out a 0.1% gain, while the Nasdaq rose 1.2%.

When U.S. trading opened, the market appeared set for a uniformly depressing day. The S&P 500 dove 1.2% almost immediately, with airlines sinking particularly sharply after famed investor Warren Buffett said he’d dumped all his shares in the four biggest U.S. carriers. A ramping up of tensions between the White House and China over the origins and handling of the coronavirus pandemic was also weighing on markets around the world.

But big tech stocks, whose momentum has been nearly unstoppable in recent years, continued to rally and helped the market trim its losses. Energy stocks also helped steady the market after the price of oil pulled a bit further from the record lows set late last month.

The S&P 500 rose 12.03 points to 2,842.74. The Dow Jones Industrial Average added 26.07 to 23,749.76, and the Nasdaq gained 105.77 to 8,710.71.

The market is “searching for direction at this point,” said Sam Stovall, chief investment strategist at CFRA.

After plunging by just over a third from February into late March on worries about a coming, severe recession, the stock market has since more than halved its losses on hopes that infections are leveling off and that growth could resume later this year amid a gradually reopening economy.

The S&P 500 surged 12.7% in April for its best monthly performance in 33 years. The month has historically been one of the best of the year for U.S. stocks, while May has been more of a struggle.

“I wouldn’t hold out a lot of hope for seasonal strength,” Stovall said. “This is the six-month period in which the market tends to trace out the design on Charlie Brown’s shirt.”

Many professional investors have been skeptical of the market’s huge rally given how much devastation is rolling through the economy. Uncertainty is extremely high about how long the recession will last after businesses shut down worldwide in hopes of slowing the spread of the virus. Even some of Wall Street’s optimists said a pullback for the S&P 500 was overdue.

Strategists at Morgan Stanley called such a pullback, which could reach 10%, “a necessary pause that refreshes.” While acknowledging the severe recession that everyone sees gripping the world, they say stocks can still resume their climb due largely to “seemingly unlimited central bank support, unprecedented fiscal stimulus” and a possible deceleration in the shocking numbers coming in on the economy.

Monday’s biggest losses were concentrated in airlines, after Berkshire Hathaway disclosed that it sold all its stakes in American Airlines Group, Delta Air Lines, Southwest Airlines and United Airlines. Berkshire Hathaway’s Buffett is one of the stock market’s most famous bargain hunters, and investors around the world parse every clue he gives about investing. Over the weekend, he said he’d made a mistake in how he valued airlines.

All four of the airlines lost 5.1% or more on Monday.

Also potentially weighing on markets was Buffett saying that he’s hanging onto his cash and hasn’t made any big deals recently because he hasn’t seen any on attractive terms.

Tech stocks in the S&P 500 rose 1.4%, though, and they make up roughly a quarter of the index by market value, which gives them particularly big sway over the market. Microsoft, the biggest company in the index, climbed 2.4%.

Energy stocks jumped 3.7% after a barrel of U.S. crude oil for delivery in June rose 61 cents to $20.39 per barrel. It’s been generally climbing since dropping to $6.50 late last month, but it’s still way below the roughly $60 level where it started the year amid worries about collapsing demand and swelling supplies.

Brent crude, the international standard, rose 76 cents to $27.20 per barrel.

Earlier in the day, markets in Asia and Europe fell to losses after tensions worsened between the world‘s two biggest economies.

Criticized over his handling of the crisis, President Donald Trump has tried to shift the blame to China. Beijing has repeatedly pushed back on U.S. accusations that the outbreak was China’s fault.

The antagonisms threaten the truce in a trade war between Washington and Beijing that was struck just before China began shutting much of its economy down in late January to fight the pandemic.

“We’re still battling with the notions of how and when we’ll bottom and how things will be different at the end of” the pandemic, said Keith Buchanan, senior portfolio manager at Globalt.

Reintroducing a tariff dispute just “adds another worrying point for the market,” he said.

Stocks in Hong Kong dropped 4.2%, while South Korea’s market lost 2.7%. In Europe, France’s CAC 40 fell 4.2%, Germany’s DAX lost 3.6% and Britain’s FTSE 100 fell 0.2%.

Monday was the first opportunity for France, South Korea and other markets to catch up to the rest of the world, following their closures for holidays last week. Stock markets in Tokyo and Shanghai were among those closed for holidays on Monday.


----------



## bigdog

Stocks closed broadly higher on Wall Street Tuesday as more countries relaxed restrictions on businesses, raising hopes for a recovery from the historic plunge that is sweeping the global economy.

The S&P 500 rose 0.9%, although it lost about half of its early gains in a late-afternoon burst of selling. Technology and health care stocks accounted for much of the gains, which followed a strong showing in overseas markets.

Investors are cautiously optimistic that the gradual reopening of some businesses will begin to turn around the economy.

In California, some retail businesses could begin serving customers again as early as Friday, under some restrictions. Many European countries have also begun relaxing strict orders meant to slow the spread of the coronavirus outbreak, while waiting to see if it leads to a resurgence in infections. In Asia, the first pitches of the South Korean baseball season thwacked into catchers’ mitts, albeit in stadiums with no fans in attendance.

Expectations for stronger demand for oil as more businesses get the green light to open helped drive the price of oil sharply higher, extending its mini-rally after falling to record lows last month.

“It’s investors getting a little bit ahead of themselves," said Willie Delwiche, investment strategist at Baird. "Maybe, it's a sense of relief that we’ve made it this far and there’s some sort of a path forward, even if it’s not real clear.”

Delwiche noted that questions remain about at what pace will consumers venture out of their homes and spend money as shuttered businesses reopen.

“That's the big unknown right now,” he said.

The S&P 500 gained 25.70 points to 2,868.44. The Dow Jones Industrial Average rose 133.33 points, or 0.6%, to 23,883.09. The Nasdaq climbed 98.41 points, or 1.1%, to 8,809.12. Small stocks in the Russell 2000 index were doing even better than their larger rivals for much of the day, before shedding some of their gains by late afternoon. The Russell 2000 rose 9.54 points, or 0.8%, to 1,273.51.

*ASX 200 expected to edge lower.*
It looks set to be a subdued day of trade on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 15 points or 0.3% lower this morning. This is despite the positive night of trade on Wall Street on Tuesday. The Dow Jones rose 0.56%, the S&P 500 pushed 0.9% higher, and the Nasdaq index jumped 1.1% higher.










https://www.usnews.com/news/busines...ares-advance-following-rebound-on-wall-street

*Stocks End Higher on Wall Street Even After Late-Day Stumble*
Stocks closed higher on Wall Street but gave up about half of their early gains in a late-afternoon bout of selling.
By Associated Press, Wire Service Content May 5, 2020, at 5:46 p.m. 

By STAN CHOE, ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Stocks closed broadly higher on Wall Street Tuesday as more countries relaxed restrictions on businesses, raising hopes for a recovery from the historic plunge that is sweeping the global economy.

The S&P 500 rose 0.9%, although it lost about half of its early gains in a late-afternoon burst of selling. Technology and health care stocks accounted for much of the gains, which followed a strong showing in overseas markets.

Investors are cautiously optimistic that the gradual reopening of some businesses will begin to turn around the economy.

In California, some retail businesses could begin serving customers again as early as Friday, under some restrictions. Many European countries have also begun relaxing strict orders meant to slow the spread of the coronavirus outbreak, while waiting to see if it leads to a resurgence in infections. In Asia, the first pitches of the South Korean baseball season thwacked into catchers’ mitts, albeit in stadiums with no fans in attendance.

Expectations for stronger demand for oil as more businesses get the green light to open helped drive the price of oil sharply higher, extending its mini-rally after falling to record lows last month.

“It’s investors getting a little bit ahead of themselves," said Willie Delwiche, investment strategist at Baird. "Maybe, it's a sense of relief that we’ve made it this far and there’s some sort of a path forward, even if it’s not real clear.”

Delwiche noted that questions remain about at what pace will consumers venture out of their homes and spend money as shuttered businesses reopen.

“That's the big unknown right now,” he said.

The S&P 500 gained 25.70 points to 2,868.44. The Dow Jones Industrial Average rose 133.33 points, or 0.6%, to 23,883.09. The Nasdaq climbed 98.41 points, or 1.1%, to 8,809.12. Small stocks in the Russell 2000 index were doing even better than their larger rivals for much of the day, before shedding some of their gains by late afternoon. The Russell 2000 rose 9.54 points, or 0.8%, to 1,273.51.

The stock market has been rallying since late March, as investors look beyond the devastation that’s currently ravaging the global economy. They’re focusing instead on the prospects for a resumption of growth later in the year, as well as on the massive support for markets provided by the Federal Reserve. Many analysts are skeptical of the stock market’s rally, saying it’s overdone given all the uncertainty about how long the recession will last, but the S&P 500 has nevertheless more than halved its losses from its sell-off earlier in the year.

A report released Tuesday morning showed that the U.S. services industry shrank for the first time in a decade last month, but it caused barely a ripple in the stock or bond market. It wasn’t quite as terrible as economists had forecast.

”What we should be watching for is not that things are good; things are not going to be good,” said Brad McMillan, chief investment officer for Commonwealth Financial Network. “We should be watching for signs that things are less bad.”

”Just getting people back to work and businesses open again can improve attitudes and confidence,” he said.

Disney fell 3% in extended trading after the company reported a steep drop in quarterly profit as many segments of its media and entertainment offerings ground to a standstill during the coronavirus pandemic. Overall, the company said costs related to COVID-19 cut Disney’s pretax profit by $1.4 billion.

Hopes that the reopening of economies will eventually lead to a pickup in demand have also very recently helped oil prices climb off the floor. A barrel of U.S. oil to be delivered in June jumped 20.5% to settle at $24.56 Tuesday, up from a low point of $6.50 set late last month. Oil is still well below the roughly $60 that it cost at the start of the year, after plunging on worries that the collapse in oil demand would lead to topped-out storage tanks.

Brent crude, the standard for international pricing, gained 13.9% to close at $30.97 per barrel.

“The feeling on the floor is that energy is in a better spot, and while it’s not brilliant,“ the gulf between oil supplies and demand “is starting to shift in a more positive direction,” Chris Weston of Pepperstone said in a report.

Technology stocks also continued their strong run. Apple rose 1.5% and Microsoft gained 1.1%. The two companies alone account for 11% of the S&P 500's entire market value. Tech stocks in the S&P 500 have nearly erased all their losses for 2020 so far, after earlier being down as much as 23%. The sector is now down 0.3%.

In Europe, Germany’s DAX rose 2.5%, the CAC 40 in Paris gained 2.4% and the FTSE 100 in London rose 1.7%.

Hong Kong’s Hang Seng added 1.1% as the government said it would relax some social distancing measures, allowing certain businesses such as gyms, cinemas and beauty salons to reopen and doubling the number of individuals allowed at public gatherings to a maximum of eight. Markets in Tokyo, Shanghai and Seoul were closed for holidays.

In another sign of a bit less pessimism in the market, the yield on the 10-year Treasury note ticked up to 0.66% from 0.63% late Monday. Treasury yields tend to rise when investors are upgrading their expectations for the economy and inflation. But it’s still well below the 1.90% it yielded at the start of the year.


----------



## bigdog

Stocks fell on Wall Street Wednesday, sending the market to its first loss in three days, after more depressing data rolled in on the devastation sweeping the global economy.

The S&P 500 dropped 0.7%, and three out of four stocks in the index sank. But the market’s losses would have been much worse if not for continued gains for technology stocks. Momentum for Microsoft, Apple and other tech stocks has proven to be nearly unstoppable this year, even in the face of the coronavirus pandemic, and more gains for them almost singlehandedly kept Wall Street steady for much of Wednesday’s trading.

The S&P 500 wavered between modest gains and losses for much of the day as the gains for tech stocks jousted with the more prevalent losses elsewhere, before it turned lower in the last half hour of trading. It ended down 20.02 points at 2,848.42. The Dow Jones Industrial Average sank 218.45 points, or 0.9%, to 23,664.64. The Nasdaq, which is full of tech stocks, rose 45.27, or 0.5%, to 8,854.39.

A report Wednesday morning showed private U.S. employers eliminated an astonishing 20.2 million jobs last month. It sets a dour stage for Friday’s more comprehensive monthly jobs report from the U.S. government. Across the Atlantic, the European Union said Wednesday that it’s bracing for a “recession of historic proportions” amid restrictions meant to slow the spread of the virus.

Financial stocks weighed particularly heavy on the market, and JPMorgan Chase fell 1.9% while Wells Fargo lost 2.7%. Banks have been some of the hardest-hit stocks this year, largely on worries that all the job losses caused by the recession will saddle them with mountains of bad loans.

Energy stocks were also down after oil prices gave up some of their gains from earlier in the week. Benchmark U.S. crude oil fell 57 cents, or 2.3%, to settle at $23.99 a barrel Wednesday. Brent crude oil, the international standard, fell $1.25 to $29.72 a barrel. That helped drag Chevron down 3.1% and Exxon Mobil down 1.9%.

But helping to counterweight that was the gain in tech stocks, which are able prop up the market due to their massive size. Microsoft and Apple alone make up 11% of the S&P 500 by market value, giving their movements great sway on the index. Each rose 1%.

*ASX 200 expected to fall again.*
The ASX 200 looks set to fall again on Thursday after a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 1% or 51 points lower this morning. On Wall Street the Dow Jones fell 0.9%, the S&P 500 dropped 0.7%, and the Nasdaq index defied the other indices and climbed 0.5%










*Wall Street dips to week’s first loss despite tech’s efforts*
By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGAan hour ago
https://apnews.com/007a444ccd10df36a802899af8d04de1

Stocks fell on Wall Street Wednesday, sending the market to its first loss in three days, after more depressing data rolled in on the devastation sweeping the global economy.

The S&P 500 dropped 0.7%, and three out of four stocks in the index sank. But the market’s losses would have been much worse if not for continued gains for technology stocks. Momentum for Microsoft, Apple and other tech stocks has proven to be nearly unstoppable this year, even in the face of the coronavirus pandemic, and more gains for them almost singlehandedly kept Wall Street steady for much of Wednesday’s trading.

The S&P 500 wavered between modest gains and losses for much of the day as the gains for tech stocks jousted with the more prevalent losses elsewhere, before it turned lower in the last half hour of trading. It ended down 20.02 points at 2,848.42. The Dow Jones Industrial Average sank 218.45 points, or 0.9%, to 23,664.64. The Nasdaq, which is full of tech stocks, rose 45.27, or 0.5%, to 8,854.39.

A report Wednesday morning showed private U.S. employers eliminated an astonishing 20.2 million jobs last month. It sets a dour stage for Friday’s more comprehensive monthly jobs report from the U.S. government. Across the Atlantic, the European Union said Wednesday that it’s bracing for a “recession of historic proportions” amid restrictions meant to slow the spread of the virus.

Financial stocks weighed particularly heavy on the market, and JPMorgan Chase fell 1.9% while Wells Fargo lost 2.7%. Banks have been some of the hardest-hit stocks this year, largely on worries that all the job losses caused by the recession will saddle them with mountains of bad loans.

Energy stocks were also down after oil prices gave up some of their gains from earlier in the week. Benchmark U.S. crude oil fell 57 cents, or 2.3%, to settle at $23.99 a barrel Wednesday. Brent crude oil, the international standard, fell $1.25 to $29.72 a barrel. That helped drag Chevron down 3.1% and Exxon Mobil down 1.9%.

But helping to counterweight that was the gain in tech stocks, which are able prop up the market due to their massive size. Microsoft and Apple alone make up 11% of the S&P 500 by market value, giving their movements great sway on the index. Each rose 1%.

Semiconductor companies were also strong. KLA Corp. rose 5.3% for one of the biggest gains in the index after it reported stronger revenue and earnings for the latest quarter than Wall Street expected.

After being down as much as 23% for the year on worries about the pandemic’s economic hit, tech stocks in the S&P 500 have erased all their losses are now up 0.4% for 2020.

“With the physical economy effectively offline, the virtual economy is all that remains,” said Ryan Giannotto, director of research at GraniteShares. “It’s accelerated the drumbeat of digital disruption.”

The trend across stock markets has been decidedly up in recent weeks. Countries around the world and some U.S. states are allowing businesses to reopen in hopes of arresting the economic devastation, despite warnings that it could lead to a resurgence in infections.

The S&P 500 has more than halved its earlier loss of 34%, which stretched from February into late March. It began its recovery after the Federal Reserve and U.S. government pledged massive amounts of aid for the economy.

Many analysts are skeptical about the rally, calling it overdone given uncertainty about how long the recession will last. And as Wednesday’s reports demonstrated, the damage looks to be the worst in many decades.

“Sentiment right now really rests on the potential for the economic restart and coincides with concerns about a second or third wave of virus spread,” said Eric Freedman, chief investment officer at U.S. Bank Wealth Management. “It’s more of a wait-and-see, driven by both the path toward a return and how rocky the path may be.”

Investors recently have been focusing on the possibility that the economy will be in a less horrible place a few months from now, which would merit higher prices. China, where the pandemic began in December, has allowed factories and some other businesses to reopen. Some European governments are taking similar steps. California might allow some retailers to resume serving customers this week.

“The virus isn’t going away, that’s just part of our ecosystem,” said Giannotto of GraniteShares. “What can be changed is our willingness to accept risk.”

In Asia, South Korea’s Kospi gained 1.8%, and Hong Kong’s Hang Seng rose 1.1%. Stocks in Shanghai added 0.6%. In Europe, French stocks fell 1.1%, and Germany’s market lost 1.1%. The FTSE 100 in London rose 0.1%.

The yield on the 10-year Treasury climbed to 0.70% from 0.65% late Tuesday. That’s up from its record low of below 0.40% set in early March, but it’s still well below the roughly 1.90% it was yielding at the start of the year. Yields tend to fall when investors are downgrading their expectations for the economy and inflation.

The U.S. government is borrowing massive sums to pay for its response to the coronavirus, and the ballooning supply of Treasurys may be adding downward pressure on their prices. When a Treasury’s price falls, its yield rises.


----------



## bigdog

Even with the economy still in miserable shape, some investors are finding reasons to hope the worst of the plunge may have passed, and Wall Street rallied to its biggest gain in a week on Thursday.

The S&P 500 climbed 1.2% for its third gain in four days, following up on similar increases in European markets. Other areas of the market were still showing much more pessimism, though, including bonds.

The day’s headliner economic report showed another 3.2 million U.S. workers applied for jobless benefits last week, bringing the total to 33.5 million over the last seven weeks. It’s a shocking number, but it’s also the fifth straight week that it has declined since hitting a peak in late March.

Several companies also cited signs that the worst may have passed in some parts of their businesses, though more weakness is still definitely on the horizon.

That was enough to bolster hopes that have coursed through the stock market recently as investors look ahead to a future that’s not as bad as the horrific present. On Wall Street, investors often care more about how quickly economic pain is increasing than about whether there is more pain.

The S&P 500 rose 32.77 points to 2,881.19. The Dow Jones Industrial Average gained 211.25, or 0.9%, to 23,875.89. The Nasdaq rose 125.27, or 1.4%, to 8,979.66 and eliminated the last of its losses for 2020 so far.

The S&P 500 has more than halved its 33% loss from February into late March, beginning its rally after the Federal Reserve and Capitol Hill pledged massive amounts of aid for the economy. Many analysts have been skeptical of the rally, saying it’s overdone given how much uncertainty still exists about how long the recession will last.

*ASX 200 expected to rise.*
The ASX 200 could finish the week on a positive note after a solid night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 0.15% or 8 points higher this morning. On Wall Street the Dow Jones climbed 0.9%, the S&P 500 rose 1.2%, and the Nasdaq index pushed 1.4%. The latter is now in positive territory in 2020.










https://www.usnews.com/news/busines...es-mostly-fall-over-pandemic-us-trade-worries

*Stocks Rise on Hope That Worst of Economic Plunge Has Passed*
Wall Street rallied for its biggest gain in a week as investors find more reasons to hope that the worst of the economic plunge due to the coronavirus pandemic may have passed.
By Associated Press, Wire Service Content May 7, 2020, at 4:41 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Even with the economy still in miserable shape, some investors are finding reasons to hope the worst of the plunge may have passed, and Wall Street rallied to its biggest gain in a week on Thursday.

The S&P 500 climbed 1.2% for its third gain in four days, following up on similar increases in European markets. Other areas of the market were still showing much more pessimism, though, including bonds.

The day’s headliner economic report showed another 3.2 million U.S. workers applied for jobless benefits last week, bringing the total to 33.5 million over the last seven weeks. It’s a shocking number, but it’s also the fifth straight week that it has declined since hitting a peak in late March.

Several companies also cited signs that the worst may have passed in some parts of their businesses, though more weakness is still definitely on the horizon.

That was enough to bolster hopes that have coursed through the stock market recently as investors look ahead to a future that’s not as bad as the horrific present. On Wall Street, investors often care more about how quickly economic pain is increasing than about whether there is more pain.

The S&P 500 rose 32.77 points to 2,881.19. The Dow Jones Industrial Average gained 211.25, or 0.9%, to 23,875.89. The Nasdaq rose 125.27, or 1.4%, to 8,979.66 and eliminated the last of its losses for 2020 so far.

“Investors are saying: Look, I know things are bad, tell me something I don’t know,” said Sam Stovall, chief investment strategist at CFRA. “If I know things are going to be horrendous, the only way you can surprise me is to the upside.”

Everyone agrees the world is sliding into a severe recession after economies worldwide shut down in hopes of slowing the spread of the coronavirus. But some countries and U.S. states are laying out plans to relax restrictions, which has some investors focusing on the possible resumption of growth later this year.

Investors on Thursday found solace in numbers from other countries further ahead in reopening their economies, which haven’t shown a renewed surge in COVID-19 cases, said Quincy Krosby, chief market strategist at Prudential Financial.

“Right now, what investors and traders are looking at, not to mention public health officials, is how it is working in other countries,” she said. “When you watch other countries opening and doing it successfully without an uptick in cases, it portends well for the U.S.”

Also helping to boost the market, she said, was a federal regulatory approval for the second phase of testing on a potential COVID-19 vaccine from Moderna.

The S&P 500 has more than halved its 33% loss from February into late March, beginning its rally after the Federal Reserve and Capitol Hill pledged massive amounts of aid for the economy. Many analysts have been skeptical of the rally, saying it’s overdone given how much uncertainty still exists about how long the recession will last.

Lyft jumped 21.7% after it said late Wednesday that ride levels appear to have steadied after hitting a bottom in the second week of April. Over each of the three following weeks, the number of rides has grown from the prior week, though they’re still down more than 70% from a year earlier.

Stocks whose fortunes are most closely tied to the strength of the economy helped lead the market. Energy producers in the S&P 500 rose 2.5% for the biggest gain among the 11 sectors that make up the index. Financial stocks were close behind.

They have been among the market’s hardest-hit stocks this year on worries that the recession is erasing demand for oil and could lead to a wave of loan defaults for banks.

The bond market offered a much more cautious take. The yield on the 10-year Treasury fell to 0.63% from 0.71% late Wednesday. Yields tend to fall as investors downgrade their expectations for economic growth and inflation.

The 10-year yield had climbed strongly a day before after the U.S. government gave an update on how it’s borrowing to help pay for the trillions of dollars it’s pumping into the economy to combat the pandemic.

The yield on the two-year Treasury, meanwhile, fell to a record low on Thursday, according to Tradeweb.

In Europe, gains were widespread for stocks. France’s CAC 40 rose 1.5%, and Germany’s DAX returned 1.4%. The FTSE 100 in London added 1.4%.

Encouraging data showed a 3.5% rise in exports for China in April, driven by electronics shipments and textiles, which included a surge in mask exports. Forecasters warned the strength is unlikely to last, though, as the coronavirus pandemic depresses global consumer demand.

Most Asian markets slipped Thursday. South Korea’s Kospi was close to flat, while Hong Kong’s Hang Seng fell 0.6%. Stocks in Shanghai slipped 0.2%.

Benchmark U.S. crude oil fell 44 cents, or 1.8%, to settle at $23.55 a barrel. Brent crude oil, the international standard, fell 26 cents, or 0.9% to $29.46 a barrel.


----------



## bigdog

Wall Street doubled down on its bet that the worst of the recession has passed, sending stocks higher again on Friday despite another historic, crushing report on the job market.

Stocks around the world were already rising before the U.S. government gave its monthly report on jobs, in part on hopes that the U.S. and China won’t restart their trade war. After the report showed employers cut a record-busting 20.5 million jobs last month, the gains actually accelerated.

While the number is a nightmare, it was slightly below the 21 million that economists told markets to brace for. More importantly, investors are betting they won’t see another report that bad again because the number of workers filing for unemployment benefits has slowly declined the last five weeks.

Instead of looking backward at last month’s job losses, some investors focused instead on the prospect of growth resuming later this year. They bought stocks of retailers that laid out plans to reopen in coming weeks, energy companies that would benefit as people start driving again and banks that may skirt the worst-case avalanche of loan defaults.

“So, equity investors are looking for that hope in the third and fourth quarter of this year,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. “That’s what this optimism is about.”

The S&P 500 rose 48.61, or 1.7%, to 2,929.80 for its fourth gain in the last five days, and it closed out its first winning week in the last three. The Dow Jones Industrial Average added 455.43, or 1.9%, to 24,331.32, and the Nasdaq composite rose 141.66, or 1.6%, to 9,121.32.

After losing a third of its value in a little more than a month on worries about a severe recession, the S&P 500 has since charged higher to recover more than half its loss. The rally started after the Federal Reserve and Congress pledged trillions of dollars to prop up the economy through the downturn.










https://www.usnews.com/news/busines...hope-that-worst-of-economic-plunge-has-passed

*Stocks Rise on Hopes That Awful Jobs Report Marks the Bottom*
Wall Street rallied again on Friday despite another historic, crushing report on the job market.
By Associated Press, Wire Service Content May 8, 2020, at 4:59 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street doubled down on its bet that the worst of the recession has passed, sending stocks higher again on Friday despite another historic, crushing report on the job market.

Stocks around the world were already rising before the U.S. government gave its monthly report on jobs, in part on hopes that the U.S. and China won’t restart their trade war. After the report showed employers cut a record-busting 20.5 million jobs last month, the gains actually accelerated.

While the number is a nightmare, it was slightly below the 21 million that economists told markets to brace for. More importantly, investors are betting they won’t see another report that bad again because the number of workers filing for unemployment benefits has slowly declined the last five weeks.

Instead of looking backward at last month’s job losses, some investors focused instead on the prospect of growth resuming later this year. They bought stocks of retailers that laid out plans to reopen in coming weeks, energy companies that would benefit as people start driving again and banks that may skirt the worst-case avalanche of loan defaults.

“So, equity investors are looking for that hope in the third and fourth quarter of this year,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. “That’s what this optimism is about.”

The S&P 500 rose 48.61, or 1.7%, to 2,929.80 for its fourth gain in the last five days, and it closed out its first winning week in the last three. The Dow Jones Industrial Average added 455.43, or 1.9%, to 24,331.32, and the Nasdaq composite rose 141.66, or 1.6%, to 9,121.32.

After losing a third of its value in a little more than a month on worries about a severe recession, the S&P 500 has since charged higher to recover more than half its loss. The rally started after the Federal Reserve and Congress pledged trillions of dollars to prop up the economy through the downturn.

More recently, even as horrific data confirmed the recession fears were correct, investors have pushed stocks higher as countries and many U.S. states laid out plans to relax restrictions on businesses meant to slow the spread of the coronavirus outbreak.

Many analysts are skeptical of the rally, though, saying the economy likely won’t recover nearly as vigorously and quickly as the stock market has. Friday’s jobs report showed that the unemployment rate climbed to its highest level since the Great Depression. And if reopening economies lead to a renewed surge in infections, business shutdowns could sweep the world quickly again.

Because most economic reports are so backward looking, Horneman said she is focusing on things like passenger traffic at airports and Open Table restaurant reservations to get a sense of how quickly the economy can recover.

“In some aspects, investors are starting to look at it as the worst is behind us,” said Charlie Ripley, senior investment strategist for Allianz Investment Management.

Companies whose profits are usually most closely tied to the strength of the economy led the market higher. Energy producers in the S&P 500 jumped 4.3% for the biggest gain of the 11 sectors that make up the index. Industrial companies and financial stocks were also stronger than the rest of the market.

The trio were the hardest-hit sectors earlier in the year on worries about the coming recession, which would cause demand for their products to vanish and saddle banks with bad loans.

Smaller stocks also rose more than the rest of the market, an indication that investors expect stronger growth ahead. Small-cap stocks have historically sunk more than their bigger rivals heading into downturns, in part because of their more limited financial strength, but rebounded harder in anticipation of recoveries. Friday’s 3.6% gain for the Russell 2000 was more than double those for big-stock indexes.

Stocks got off to a strong start earlier on Friday after a Chinese state media report said top U.S. and Chinese trade negotiators talked on the phone and are working to implement a trade deal. That helped calm building concerns that tensions between the world’s largest economies may flare up again.

The last thing investors want is another round of punishing tit-for-tat tariffs dragging even more on an economy already sliding into a severe recession.

In another sign of less pessimism in the market, the yield on the 10-year Treasury note rose to 0.68% from 0.63% late Thursday. That yield tends to move with investors’ expectations for the economy and inflation.

Benchmark U.S. crude oil rose $1.19, or 5.1%, to settle at $24.74 a barrel, continuing its strong week and recovering some more of its record-setting losses from earlier in the year. Brent crude oil, the international standard, rose $1.51, or 5.1% to $30.97 a barrel.

In Asia, Hong Kong’s Hang Seng added 1%, and stocks in Shanghai rose 0.8%. South Korea’s Kospi gained 0.9%. In Europe, France’s CAC 40 rose 1.1%, and Germany’s DAX rose 1.3%.

602


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## noirua




----------



## Country Lad

I think that is an old chart done a long time ago where his comparison failed - again.
The line marked as the DJIA Current Period is in fact up to early February *2014.*  It continued to rise and went another 10% over the next 7 months.


----------



## bigdog

*ASX 200 expected to edge higher.*
The ASX 200 looks set to continue its positive form on Monday. Current SPI futures are pointing to a 3 point gain at the open. This follows a strong end to the week on Wall Street despite record U.S. job losses. On Friday the Dow Jones rose 1.9%, the S&P 500 climbed 1.7%, and the Nasdaq index pushed 1.6% higher.


----------



## bigdog

Wall Street was split on Monday, as continued gains for technology and health care stocks helped cover up for more prevalent losses elsewhere.

The S&P 500 ended the day at a virtual standstill, up just 0.52 points at 2,930.32, despite a lot of movement going on underneath. It rallied back from an earlier loss of 0.9% in the morning.

The Dow Jones Industrial Average fell 109.33 points, or 0.4%, to 24,221.99, while the Nasdaq composite added 71.02, or 0.8%, to 9,192.34.

Through the muddled day, one of the market’s few points of clarity was that investors continue to love technology stocks.

Even with the coronavirus pandemic throwing the global economy into disarray, tech stocks in the S&P 500 have been remarkably resilient. They’re up 4.1% for 2020 as investors look for companies that can be winners in both a ”normal” and a stay-at-home economy.

Apple rose 1.6%, Nvidia added 3.2% to return to a record and Advanced Micro Devices climbed 4.8% for one of Monday’s biggest gains in the S&P 500.

This year’s second-best sector has been health care, which has trimmed its loss for 2020 to just 1%.

Biotech stocks were particularly strong Monday. And Cardinal Health had the biggest gain in the S&P 500, up 6.7%, after reporting stronger-than-expected earnings for its latest quarter, partly because of increased pharmaceutical sales due to the pandemic.

Those gains helped to make up for 69% of stocks falling in the S&P 500. It also leaves the index within reach of its highest level since early March.

*ASX 200 expected to fall.*
It looks set to be a weaker day of trade for the Australian share market on Tuesday. According to the latest SPI futures, the ASX 200 is expected to fall 20 points or 0.4% at the open. This follows a mixed night of trade on Wall Street which saw the Dow Jones fall 0.45%, the S&P 500 trade flat, and the Nasdaq index jump 0.8%.











https://www.usnews.com/news/busines...ixed-amid-hopes-for-recovery-from-virus-slump

*Tech Stocks Keep Rallying, Help Keep Wall Street Steady*
Wall Street was split on Monday, as continued gains for technology and health care stocks helped cover up for more prevalent losses elsewhere.
By Associated Press, Wire Service Content May 11, 2020, at 5:27 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

Wall Street was split on Monday, as continued gains for technology and health care stocks helped cover up for more prevalent losses elsewhere.

The S&P 500 ended the day at a virtual standstill, up just 0.52 points at 2,930.32, despite a lot of movement going on underneath. It rallied back from an earlier loss of 0.9% in the morning.

The Dow Jones Industrial Average fell 109.33 points, or 0.4%, to 24,221.99, while the Nasdaq composite added 71.02, or 0.8%, to 9,192.34.

Through the muddled day, one of the market’s few points of clarity was that investors continue to love technology stocks.

Even with the coronavirus pandemic throwing the global economy into disarray, tech stocks in the S&P 500 have been remarkably resilient. They’re up 4.1% for 2020 as investors look for companies that can be winners in both a ”normal” and a stay-at-home economy.

Apple rose 1.6%, Nvidia added 3.2% to return to a record and Advanced Micro Devices climbed 4.8% for one of Monday’s biggest gains in the S&P 500.

This year’s second-best sector has been health care, which has trimmed its loss for 2020 to just 1%.

Biotech stocks were particularly strong Monday. And Cardinal Health had the biggest gain in the S&P 500, up 6.7%, after reporting stronger-than-expected earnings for its latest quarter, partly because of increased pharmaceutical sales due to the pandemic.

Those gains helped to make up for 69% of stocks falling in the S&P 500. It also leaves the index within reach of its highest level since early March.

“People are looking ahead, and they’re saying, ‘OK, the pandemic has happened, and the damage has swept through our economy and our businesses, and now we’re planning on the growth after the carnage, so we’re valuing equities as if we’re going to go back to a decent growth environment,’” said Mike Zigmont, head of trading and research at Harvest Volatility Management.

The S&P 500 has rallied 31% since late March, at first on relief after the Federal Reserve and Capitol Hill pledged massive amounts of aid for the economy. More recently, some investors have focused on the possibility of a strong recovery later this year, after governments reopen economies and lift business-shutdown orders meant to slow the spread of the coronavirus.

That optimistic view took some hits Monday, though, as worries rose about the possibility of new waves of infections hitting countries that are further ahead in lifting lockdown measures. Investors pointed to small but disconcerting increases of infections in South Korea, China and elsewhere.

The worries helped lead companies whose profits are most closely tied to the strength of the economy to the market’s biggest losses.

“I don’t know why investors are feeling so comfortable with those expectations,” Zigmont said of forecasts for a turnaround in profit growth in 2021 and 2022. “They are so far away, and there’s so much uncertainty between now and then, and yet investors seem to be OK” with paying up in anticipation that companies will hit those targets.

Financial stocks fell 1.9% for the biggest loss among the 11 sectors that make up the index. Bank stocks have been hit hard this year on worries that the recession will lead to a wave of households and businesses defaulting on their loans. Bank of America dropped 4.2% Monday, and Citigroup lost 4.9%.

Energy companies and raw-material producers also fell on worries that a weaker global economy will need less oil and fewer basic building blocks.

The data streaming in on the economy remain oppressively bad. After a report on Friday showed U.S. employers cut a record-setting 20.5 million jobs in April, Italy reported Monday its largest-ever drop in industrial production. More data reports this week include U.S. unemployment claims and retail sales and Australian jobs.

Companies remain uncertain about the future, with many opting to give no financial forecasts during their latest quarterly earnings reports.

Even outside the possibility of a resurgence of infections, many analysts see other reasons for skepticism. Strategists at Goldman Sachs said the market appears to be downplaying a drop-off in buybacks and dividends as companies look to preserve cash, the threat of more U.S.-China trade tensions and the possibility that the upcoming U.S. elections could lead to higher corporate tax rates.

Most of all, companies themselves are talking about how uncertain the recovery looks, which stands in stark relief to the quick, vigorous rebound that the stock market seems to be assuming will happen.

Japan’s Nikkei 225 rose 1%, while stocks in Shanghai were close to flat. South Korean stocks fell 0.5%. In Europe, the French CAC 40 fell 1.3%, and Germany’s DAX lost 0.7%. The FTSE 100 in London edged up 0.1%.

The yield on the 10-year Treasury rose to 0.70% from 0.68% late Friday.

Benchmark U.S. crude oil fell 60 cents, or 2.4%, to settle at $24.14 a barrel Monday. Brent crude oil, the international standard, fell $1.34, or 4.3% to $29.60 a barrel.


----------



## bigdog

Worries about the downside of reopening the economy too soon are weighing on markets, and Wall Street fell Tuesday to its biggest loss since the start of the month.

The S&P 500 dropped 2.1% after spending much of the day drifting between small gains and losses, as investors debate whether the lifting of lockdowns across U.S. states and the world will drive an economic rebound or just more coronavirus infections.

The concerns were summed up in straightforward testimony from the top U.S. infectious diseases expert. Dr. Anthony Fauci told Congress that if the country reopens too soon, it could not only cause “some suffering and death that could be avoided, but could even set you back on the road to try to get economic recovery.”

The S&P 500 fell 60.20 points to 2,870.12, with the losses accelerating sharply in the last hour of trading. Stocks of companies whose profits are most closely tied to the strength of the economy had some of the market’s sharpest drops. Treasury yields also fell in a sign of increased caution.

The Dow Jones Industrial Average fell 457.21 points, or 1.9%, to 23,764.78, and the Nasdaq composite lost 189.79, or 2.1%, to 9,002.55.

Governments around the world and in some U.S. states have already begun gradually lifting restrictions on businesses, which were meant to slow the spread of the coronavirus outbreak but have also caused a severe recession. Expectations that growth will resume following the reopenings have helped drive the S&P 500 up 28% since late March.

But South Korea and other countries further ahead in removing restrictions have also seen small but notable increases in infections recently. That’s raising worries about possible second waves of infections.

*ASX 200 expected to fall again.*
The Australian share market looks set to extend its decline on Wednesday. According to the latest SPI futures, the ASX 200 is expected to fall 70 points or 1.3% at the open. This follows a very poor night of trade on Wall Street which saw the Dow Jones fall 1.9%, the S&P 500 drop 2.05%, and the Nasdaq index tumble 2.06%. Investors were selling equities due to reopening jitters, with U.S. banks particularly poor performers.










https://www.usnews.com/news/busines...ecline-on-jitters-over-new-outbreaks-of-virus

*Wall Street Drops After Reopening Worries Lead to Late Slide*
Wall Street fell to its biggest loss since the start of the month on worries about the downside of reopening the economy too soon.
By Associated Press, Wire Service Content May 12, 2020, at 4:50 p.m

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Worries about the downside of reopening the economy too soon are weighing on markets, and Wall Street fell Tuesday to its biggest loss since the start of the month.

The S&P 500 dropped 2.1% after spending much of the day drifting between small gains and losses, as investors debate whether the lifting of lockdowns across U.S. states and the world will drive an economic rebound or just more coronavirus infections.

The concerns were summed up in straightforward testimony from the top U.S. infectious diseases expert. Dr. Anthony Fauci told Congress that if the country reopens too soon, it could not only cause “some suffering and death that could be avoided, but could even set you back on the road to try to get economic recovery.”

The S&P 500 fell 60.20 points to 2,870.12, with the losses accelerating sharply in the last hour of trading. Stocks of companies whose profits are most closely tied to the strength of the economy had some of the market’s sharpest drops. Treasury yields also fell in a sign of increased caution.

The Dow Jones Industrial Average fell 457.21 points, or 1.9%, to 23,764.78, and the Nasdaq composite lost 189.79, or 2.1%, to 9,002.55.

Governments around the world and in some U.S. states have already begun gradually lifting restrictions on businesses, which were meant to slow the spread of the coronavirus outbreak but have also caused a severe recession. Expectations that growth will resume following the reopenings have helped drive the S&P 500 up 28% since late March.

But South Korea and other countries further ahead in removing restrictions have also seen small but notable increases in infections recently. That’s raising worries about possible second waves of infections.

“What we’re dealing with, both today and the last couple of weeks, is the optimism behind the reopening and asking: Are we going to be reopening too soon?” said Bill Northey, senior investment director at U.S. Bank Wealth Management.

”We’re in an unknowable scenario at this point in time,” he said.

The market will essentially be in wait-and-see mode for the next two to four weeks as investors gauge how the reopenings underway in several states are going, said Sal Bruno, chief investment officer at IndexIQ.

“It all stems from the number of new cases and the number of reported cases,” he said. “If we slow that to a trickle, that’s going to be hugely positive for the market because it will give people more confidence that the unemployment rate will go down quicker.”

After dropping by roughly a third from February into late March on worries about the coming recession, the S&P 500 began recovering after the Federal Reserve and Capitol Hill flooded the economy with trillions of dollars in aid. The latest implementation of that came Tuesday, when the New York Fed began buying funds to support the corporate bond market.

With all that unprecedented support in place, markets are now focusing much more on when the economy can resume growing and less on reports coming in daily that show how badly the economy has been hurt by the pandemic. Inflation in the United States was just 0.3% last month from a year earlier, for example, but the report had limited effect on markets.

Treasurys were some of the first investments to signal the economic devastation coming from the pandemic. The yield on the 10-year Treasury fell to 0.66% from 0.72% late Monday. It tends to fall when investors are downgrading their expectations for the economy and inflation.

Financial stocks and other companies whose profits are very dependent on the strength of the economy had some of the sharpest losses. Smaller stocks also fell more than the rest of the market, as they usually do when worries are on the rise. The Russell 2000 index of small-cap stocks lost 45.70, or 3.5%, to 1,275.54.

Many companies are opting to give no financial forecasts as they release their latest quarterly earnings reports, due to the overwhelming uncertainty over what lies ahead. That was true of Toyota, whose shares fell 2% Tuesday as it reported its net profit dropped nearly 90% in the January-March quarter from a year earlier.

In the United States, Simon Property Group likewise said it’s currently impossible to predict future results amid the pandemic, and it withdrew its financial forecast for 2020. But it also said it plans to have about half of its U.S. shopping malls reopened within the next week, and its stock wavered before falling 1%.

Uber rose 2.4% after analysts said news reports of a possible takeover attempt of food delivery company Grubhub make strategic sense. Grubhub jumped 29.1%.

A barrel of U.S. oil to be delivered in June rose 6.8% to $25.78 per barrel. Brent crude, the international standard, added 1.2% to $29.98.

In Europe, Germany’s DAX was down 0.1%, while France’s CAC 40 was down 0.4%. The FTSE 100 in London was up 0.9%. In Asia, Japan’s Nikkei 225 slipped 0.1%, Hong Kong’s Hang Seng fell 1.4% and South Korea’s Kospi lost 0.7%.

___


----------



## bigdog

Wall Street’s earlier bets that the economy can make a relatively quick rebound from the coronavirus pandemic suddenly don’t look so good.

The S&P 500 fell 1.7% Wednesday for its second straight loss, with the biggest hits targeting companies that most need a healthy economy for their profits to grow. Treasury yields also sank in a sign of pessimism after Federal Reserve Chair Jerome Powell warned about the threat of a prolonged recession.

Powell said the U.S. government may need to pump even more aid into the economy, which is bleeding millions of jobs every week. His comments came one day after the top U.S. infectious diseases expert, Dr. Anthony Fauci, warned of the dangers of reopening the economy too soon. Together, they threw some some cold pessimism onto hopes rising recently among some investors that growth could resume later this year as economies reopen.

”At this stage now, we think there are more risks to the downside than the upside,” said Liz Ann Sonders, chief investment strategist at Charles Schwab.

”Consumers in general are going to be more wary and more interested in boosting savings rates and are unlikely to come back to a world of consumption anywhere near what it looked like before,” she said.

The S&P 500 fell 50.12 points to 2,820.00. The Dow Jones Industrial Average dropped 516.81 points, or 2.2%, to 23,247.97, and the Nasdaq composite lost 139.38, or 1.5%, to 8,863.17.

It’s the latest wobble for a market that has been wavering in recent weeks after coming off its best month in a generation. The S&P 500’s 26% rally got going in late March following promises of massive aid from the Federal Reserve and Capitol Hill. It then accelerated on optimism as several countries and U.S. states began relaxing restrictions on businesses that were meant to slow the spread of the coronavirus but also caused a severe recession.

*ASX 200 set to tumble.*
It looks set to be a poor day of trade for the ASX 200 on Thursday. According to the latest SPI futures, the benchmark index is expected fall 1% or 53 points at the open. Over on Wall Street the Dow Jones fell 2.2%, the S&P 500 dropped 1.75%, and the Nasdaq index fell 1.55%. Investors were selling shares after Fed Chairman Jerome Powell warned that more needs to be done to help the U.S. economy.










https://www.usnews.com/news/busines...-mixed-as-investors-weigh-virus-risk-stimulus

*Stocks Drop Again on Worries About Slow Recovery for Economy*
Stocks fell to their second straight loss on Wall Street Wednesday, weighed down by worries about a slow recovery for the economy.
By Associated Press, Wire Service Content May 13, 2020, at 4:43 p.m. 

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street’s earlier bets that the economy can make a relatively quick rebound from the coronavirus pandemic suddenly don’t look so good.

The S&P 500 fell 1.7% Wednesday for its second straight loss, with the biggest hits targeting companies that most need a healthy economy for their profits to grow. Treasury yields also sank in a sign of pessimism after Federal Reserve Chair Jerome Powell warned about the threat of a prolonged recession.

Powell said the U.S. government may need to pump even more aid into the economy, which is bleeding millions of jobs every week. His comments came one day after the top U.S. infectious diseases expert, Dr. Anthony Fauci, warned of the dangers of reopening the economy too soon. Together, they threw some some cold pessimism onto hopes rising recently among some investors that growth could resume later this year as economies reopen.

”At this stage now, we think there are more risks to the downside than the upside,” said Liz Ann Sonders, chief investment strategist at Charles Schwab.

”Consumers in general are going to be more wary and more interested in boosting savings rates and are unlikely to come back to a world of consumption anywhere near what it looked like before,” she said.

The S&P 500 fell 50.12 points to 2,820.00. The Dow Jones Industrial Average dropped 516.81 points, or 2.2%, to 23,247.97, and the Nasdaq composite lost 139.38, or 1.5%, to 8,863.17.

It’s the latest wobble for a market that has been wavering in recent weeks after coming off its best month in a generation. The S&P 500’s 26% rally got going in late March following promises of massive aid from the Federal Reserve and Capitol Hill. It then accelerated on optimism as several countries and U.S. states began relaxing restrictions on businesses that were meant to slow the spread of the coronavirus but also caused a severe recession.

Many professional investors have been skeptical of the rally, though, saying it was overdone given how much uncertainty exists about how long the recession will last. And Wednesday’s worries that the recovery may not be as strong or as rapid as investors had been banking on just a week ago hit stocks whose profits are closely tied to the economy’s strength particularly hard.

Energy producers in the S&P 500 fell 4.4% for the biggest loss among the 11 sectors that make up the index. Financial stocks were close behind with a 3% loss. Those two areas of the market have been some of this year’s biggest losers this year on expectations for less demand for oil and lower profit from making loans.

Smaller stocks also took worse losses than the rest of the market, which typically happens when worries about the economy’s strength are on the rise. The Russell 2000 index of small-cap stocks dropped 3.3%.

“The market has celebrated discussions of reopening, but there’s a hard reality of: What does reopening even mean?” said Willie Delwiche, investment strategist at Baird. “And if the market was taking an optimistic view of reopening, you’d see more cyclical leadership start to emerge, things like financials, small caps and industrials.”

Earlier in the day, strength for technology stocks had helped to steady the market momentarily. Tech stocks have been among the market’s few winners this year, as investors hunt for companies that can profit even in a stay-at-home economy. But the gains for tech quickly faded, and nearly 90% of the stocks in the S&P 500 fell Wednesday.

Trading was erratic again, and the S&P 500 went from an early loss of 1.1% to a gain of 0.1% and back to more losses, all in the span of 90 minutes. The volatility echoes Tuesday’s action, when the S&P 500 was close to flat for much of the day before a sudden slide in the last hour of trading left it down 2.1%.

Analysts say they expect the market to remain in a wait-and-see approach for weeks as investors gauge how economic reopenings underway are going. Investors want to see if second waves of coronavirus infections occur if governments lift their restrictions on businesses too soon. Another possible flare-up in trade tensions between the United States and China has also recently weighed on markets around the world.

In China, where the virus first surfaced, authorities announced seven new cases on Wednesday. Six were in Jilin province, in the northeast, where alert levels were raised and rail connections suspended. South Korea reported 26 additional cases of the coronavirus over the past 24 hours amid a new spike in infections linked to nightclubs in Seoul.

In Asian stock markets, Japan’s Nikkei 225 slipped 0.5%, the Hang Seng in Hong Kong lost 0.3% and South Korea’s Kospi rose 0.9%. In Europe, Germany’s DAX lost 2.6%, and France’s CAC 40 dropped 2.9%. The FTSE 100 in London lost 1.5%.

The yield on the 10-year Treasury fell to 0.65% from 0.69% late Tuesday. A barrel of U.S. oil to be delivered in June fell 49 cents, or 1.9%, to settle at $25.29. Brent crude, the international standard, fell 79 cents, or 2.6% to $29.19 a barrel.


----------



## bigdog

Wall Street rallied back from a sharp morning drop on Thursday, led by a resurgence for some of the year’s most beaten-down stocks.

The S&P 500 climbed 1.2% in another scattershot day of trading, with many stocks flipping from the bottom of the leaderboard to the top following a few sharp reversals in momentum. The zig-zag trading followed up on earlier losses for Asian and European stocks, while Treasury yields sank in a sign of increased pessimism.

It’s the latest wobble for Wall Street, which has been wavering for weeks as it digests gargantuan moves the market made earlier this year, first down more than 30% on worries about the coming recession and then up more than 30% on hopes for a relatively quick rebound.

Trading has been particularly erratic this week, as investors rethink bets that the reopening of economies around the world will allow for a relatively quick return of growth. Another possible flare-up in tensions between the world’s largest economies is also hitting markets, with comments from President Donald Trump about China further weighing on them Thursday.

The S&P 500 rose 32.50 to 2,852.20 after rallying back from an early-morning loss of 1.9%. The Dow Jones Industrial Average rose 377.37, or 1.6%, to 23,625.34 after earlier being down 458 points. The Nasdaq composite gained 80.55, or 0.9%, to 8,943.72 after erasing its earlier loss of 1.8%.

Stocks have suddenly changed direction several times this week, oftentimes late in the trading day, with analysts often seeing few easy explanations for why.

“Instead of it being a stock market where everything moves in the same direction — up and down — whether it’s large, small, growth or value, it’s more of a market of stocks of individual companies,” said Tom Martin, senior portfolio manager at Globalt Investments.

“What you’re seeing is this churning within the market, but not a lot of broad movement in the total market,” he said.

*ASX 200 set to rebound.*
The ASX 200 looks set to rebound from this decline on Friday. According to the latest SPI futures, the benchmark index is expected to jump 0.95% or 51 points at the open. This follows a wild night of trade on Wall Street which eventually saw the Dow Jones rise 1.6%, the S&P 500 climb 1.15%, and the Nasdaq push 0.9% higher.










https://www.usnews.com/news/busines...fall-as-hopes-fade-for-quick-economic-rebound

*Another Late Reversal Upends Wall Street, This Time Higher*
Wall Street rallied back from a sharp morning drop on Thursday, led by a resurgence for some of the year’s most beaten-down stocks.
By Associated Press, Wire Service Content May 14, 2020, at 4:53 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street rallied back from a sharp morning drop on Thursday, led by a resurgence for some of the year’s most beaten-down stocks.

The S&P 500 climbed 1.2% in another scattershot day of trading, with many stocks flipping from the bottom of the leaderboard to the top following a few sharp reversals in momentum. The zig-zag trading followed up on earlier losses for Asian and European stocks, while Treasury yields sank in a sign of increased pessimism.

It’s the latest wobble for Wall Street, which has been wavering for weeks as it digests gargantuan moves the market made earlier this year, first down more than 30% on worries about the coming recession and then up more than 30% on hopes for a relatively quick rebound.

Trading has been particularly erratic this week, as investors rethink bets that the reopening of economies around the world will allow for a relatively quick return of growth. Another possible flare-up in tensions between the world’s largest economies is also hitting markets, with comments from President Donald Trump about China further weighing on them Thursday.

The S&P 500 rose 32.50 to 2,852.20 after rallying back from an early-morning loss of 1.9%. The Dow Jones Industrial Average rose 377.37, or 1.6%, to 23,625.34 after earlier being down 458 points. The Nasdaq composite gained 80.55, or 0.9%, to 8,943.72 after erasing its earlier loss of 1.8%.

Stocks have suddenly changed direction several times this week, oftentimes late in the trading day, with analysts often seeing few easy explanations for why.

“Instead of it being a stock market where everything moves in the same direction — up and down — whether it’s large, small, growth or value, it’s more of a market of stocks of individual companies,” said Tom Martin, senior portfolio manager at Globalt Investments.

“What you’re seeing is this churning within the market, but not a lot of broad movement in the total market,” he said.

Thursday’s turnaround was powered in large part by a rally for stocks that have been pummeled for much of this year: banks.

Financial stocks in the S&P 500 jumped 2.6% for the biggest gain among the 11 sectors that make up the index. Wells Fargo rose 6.8%, and Bank of America added 4%. Through much of this year, investors have sold bank stocks on worries that low interest rates and the severe recession will mean less profit for making loans.

Energy stocks, another corner of the market that’s been hit hard this year by recession worries, also climbed. They benefited from a rise in the price of oil after the International Energy Agency gave a new forecast for oil demand this quarter that wasn’t quite as bad as its earlier one.

By the end of trading, more than 75% of stocks in the S&P 500 were higher. In the morning, more than 90% were down.

Before the recession hit, U.S. stocks quickly lost just over a third of their value as investors anticipated an avalanche of layoffs hitting the economy. Those fears have turned out to be true, and a report on Thursday showed that nearly 3 million U.S. workers filed for unemployment benefits. That brings the total to roughly 36 million in the two months since the pandemic caused widespread orders for people to stay at home and businesses to shut down.

But stocks began climbing in late March after massive amounts of aid promised by the Federal Reserve and Capitol Hill convinced markets that the worst-case scenario of a financial crisis wouldn’t be happening. Gains accelerated on hopes that the recession, while severe, could be relatively short and that the economy could resume its growth as shutdown orders lift.

Many professional investors have warned the rally was overdone, though, given how much uncertainty exists about how long the recession will last. On Wednesday, Federal Reserve Chair Jerome Powell warned this could become a prolonged downturn, while the top infections diseases expert in the U.S. said Tuesday that reopening the economy too quickly could backfire and lead to more deaths.

Recently, worries about renewed U.S.-China tensions have also weighed on markets. A bruising trade war between the two had dragged on the global economy before the pandemic hit.

“I have a very good relationship,” with China’s leader, Xi Jinping, Trump said in an interview with Fox Business Network, “but I just — right now, I don’t want to speak with him. I don’t want to speak with him.”

Trump also said the government is considering barring Chinese stocks trading on U.S. exchanges unless they follow U.S. accounting rules.

“We have all the challenges internally with the economy being shut down, but us getting into a conflict with China adds an additional dimension of uncertainty,” said Mark Hackett, chief of investment research at Nationwide.

The yield on the 10-year Treasury fell to 0.62% from 0.64% late Wednesday. It tends to fall when investors are downgrading their expectations for the economy and inflation.

Analysts say they expect the market to remain in a wait-and-see approach for weeks as investors gauge how economic reopenings underway are going. Investors want to see if second waves of coronavirus infections occur if governments lift their restrictions on businesses too soon.


----------



## Dona Ferentes

> Stocks have suddenly changed direction several times this week, oftentimes late in the trading day, with analysts often seeing few easy explanations for why.
> 
> “Instead of it being a stock market where everything moves in the same direction — up and down — whether it’s large, small, growth or value, it’s more of a market of stocks of individual companies,” said [some geezer]. "What you're seeing is this *churning within the market, *but not a lot of broad movement in the total market,” he said.



could well be true; and volatility has fallen away.


----------



## InsvestoBoy

bigdog said:


> “Instead of it being a stock market where everything moves in the same direction — up and down — whether it’s large, small, growth or value, it’s more of a market of stocks of individual companies,” said Tom Martin, senior portfolio manager at Globalt Investments.
> 
> “What you’re seeing is this churning within the market, but not a lot of broad movement in the total market,” he said.




Traditionally conditions of low pairwise correlations are bullish. Watch out if correlations rise.


----------



## bigdog

Stocks capped another wobbly day of trading on Wall Street with modest gains Friday, though the S&P 500 still ended with its biggest weekly loss in nearly two months.

The benchmark index rose 0.4% after falling 1.3% earlier in the day as investors weighed more grim data showing how badly the coronavirus pandemic is crippling the economy.

The government reported that U.S. retail sales sank a record 16.4% in April, the second steep decline in a row as store closures kept shoppers away. Then the Federal Reserve said that industrial production plunged a record 11.2% last month. Overseas, Germany’s economy shrank in the first quarter, meaning that Europe’s largest economy is in a recession.

Stocks initially fell in response to the dour economic data, then wavered between small gains and losses through the final minutes of trading. The erratic movements echoed much of the market's action this week and reflect how investors are wrestling between pessimism over the damage the outbreak is inflicting on the economy and cautious optimism that the fallout from the pandemic will begin easing as more U.S. states and countries around the world reopen their economies.

“Investors are really torn,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. “There’s one camp of thinking that it’s always darkest before the dawn. And the other camp is thinking this is just the tip of the iceberg.”

The S&P 500 rose 11.20 points to 2,863.70. It ended down 2.3% for the week, its worst showing since late March and its third weekly loss in the last four.

The Dow Jones Industrial Average gained 60.08 points, or 0.3%, to 23,685.42. The Nasdaq composite added 70.84 points, or 0.8%, to 9,014.56. Small-company stocks fared better than the rest of the market. The Russell 2000 index climbed 19.44 points, or 1.6%, to 1,256.99.

Bonds yields rose. The yield on the 10-year Treasury note, a benchmark for interest rates on many consumer loans, rose to 0.64% from 0.61% late Thursday.











https://www.usnews.com/news/busines...tly-rise-after-meandering-on-pandemic-worries

*Stocks Manage Modest Gains but Still End Lower for the Week*
Stocks managed to close modestly higher on Wall Street Friday after a day of wobbling between gains and losses.
By Associated Press, Wire Service Content May 15, 2020, at 4:48 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Stocks capped another wobbly day of trading on Wall Street with modest gains Friday, though the S&P 500 still ended with its biggest weekly loss in nearly two months.

The benchmark index rose 0.4% after falling 1.3% earlier in the day as investors weighed more grim data showing how badly the coronavirus pandemic is crippling the economy.

The government reported that U.S. retail sales sank a record 16.4% in April, the second steep decline in a row as store closures kept shoppers away. Then the Federal Reserve said that industrial production plunged a record 11.2% last month. Overseas, Germany’s economy shrank in the first quarter, meaning that Europe’s largest economy is in a recession.

Stocks initially fell in response to the dour economic data, then wavered between small gains and losses through the final minutes of trading. The erratic movements echoed much of the market's action this week and reflect how investors are wrestling between pessimism over the damage the outbreak is inflicting on the economy and cautious optimism that the fallout from the pandemic will begin easing as more U.S. states and countries around the world reopen their economies.

“Investors are really torn,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. “There’s one camp of thinking that it’s always darkest before the dawn. And the other camp is thinking this is just the tip of the iceberg.”

The S&P 500 rose 11.20 points to 2,863.70. It ended down 2.3% for the week, its worst showing since late March and its third weekly loss in the last four.

The Dow Jones Industrial Average gained 60.08 points, or 0.3%, to 23,685.42. The Nasdaq composite added 70.84 points, or 0.8%, to 9,014.56. Small-company stocks fared better than the rest of the market. The Russell 2000 index climbed 19.44 points, or 1.6%, to 1,256.99.

Bonds yields rose. The yield on the 10-year Treasury note, a benchmark for interest rates on many consumer loans, rose to 0.64% from 0.61% late Thursday.

Communications, health care and technology stocks accounted for much of the gains as investors continued to bet on internet providers, health insurers and other companies seen as being less affected by the stay-at-home orders that have hurt so many other types of businesses. Traders also bid up shares in cruise lines and some other companies whose shares have been badly beaten down since the outbreak. Royal Caribbean climbed 6.5% and Carnival rose 4.2%.

Chipmakers were among the biggest losers after the U.S. government moved to impose new restrictions on Chinese tech giant Huawei. The Commerce Department said Friday the restrictions, which impede Huawei's ability to use U.S. technology and software to design and manufacture its semiconductors abroad, aim to cut off the company's undermining of existing U.S. sanctions.

The U.S. government blacklisted the Chinese tech company a year ago, deeming it a national security risk. But there have been numerous loopholes that U.S. officials say the new restriction is meant to address. Lam Research was the biggest decliner in the S&P 500, losing 6.4%. Qualcomm fell 5.1%.

Energy stocks rose as crude oil prices climbed. Benchmark U.S. crude oil for June delivery rose $1.87, or 6.8%, to settle at $29.43 a barrel Friday. Brent crude oil for July delivery rose $1.37, or 4.4% to $32.50 a barrel.

Fears of a crushing recession due to the coronavirus sent the S&P 500 into a skid of more than 30% from its high in February. Hopes for a relatively quick rebound and unprecedented moves by the Federal Reserve and Congress to stem the economic pain fueled a historic rebound for stocks in April, with the S&P 500 recouping nearly all of its losses.

So far this month, however, stocks have been headed mostly lower. Investors are balancing cautious optimism of a recovery as economies around the world slowly ease the restrictions on people and businesses against worries that the moves could lead to another surge in coronavirus infections and more economic uncertainty.

Earlier this week, Federal Reserve Chair Jerome Powell warned the downturn could be lengthy, while the top infections diseases expert in the U.S. said that reopening the economy too quickly could backfire and lead to more deaths.

Wall Street is looking ahead to the fall and next year in hopes that the recession doesn't drag out, paving the way for corporate profits to bounce back. But much depends on how the reopening of businesses goes and the trajectory of the outbreak.

“Looking at states that have (begun) reopening to see what happens with the virus data, do you see an acceleration? That’s going to be very important,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management.

While many companies have ceased to provide earnings forecasts for the rest of this year, citing uncertainty over the when the pandemic will be under control and how soon the economy will recover, investors may get some insights next week when Walmart, Home Depot, Best Buy, Target and other retailers report quarterly results.

Major stock indexes in Asia ended mixed Friday. Markets in Europe closed mostly higher despite a report showing that Germany, the continent's largest economy, fell into recession in the first quarter with a 2.2% quarter-on-quarter decline. That pullback echoed economic declines in France and Italy.

999


----------



## bigdog

*ASX 200 expected to push higher.*
The ASX 200 looks set to continue its positive form on Monday. According to the latest SPI futures, the index is expected to rise 32 points or 0.6% at the open. This follows a strong end to the week on Wall Street which saw the Dow Jones rise 0.25%, the S&P 500 climb 0.4%, and the Nasdaq index jump 0.8% higher.


----------



## bigdog

The stock market bounced back from its worst week in nearly two months Monday as optimism about a potential vaccine for the coronavirus and hopes for a U.S. economic recovery in the second half of the year put investors in a buying mood.

The S&P 500 climbed 3.2%, its best day since early April. The gains erased all of its losses from last week, when the index posted its worst showing since late March and its third weekly loss in the last four. Bond yields rose broadly in another sign that investors were becoming more optimistic.

Stocks were already headed for a higher opening on Wall Street when a drug company announced encouraging results in very early testing of an experimental coronavirus vaccine. The stock of the company, Massachusetts-based Moderna, jumped 20%.

Investors were also encouraged by remarks over the weekend from Federal Reserve Chair Jerome Powell, who expressed optimism that the U.S. economy could begin to recover in the second half of the year. Once the outbreak has been contained, he said, the economy should be able to rebound “substantially.”

The S&P 500 gained 90.21 points to 2,953.91. The benchmark index is still down 12.8% from its all-time high on February 19.

The Dow Jones Industrial Average climbed 911.95 points, or 3.9%, to 24,597.37. The Nasdaq composite rose 220.27 points, or 2.4%, to 9,234.83. Small-company stocks fared better than the rest of the market. The Russell 2000 index picked up 76.70 points, or 6.1%, to 1,333.69.

Investors are hoping that a working vaccine for COVID-19 can be developed and that it will help reassure people and businesses as the economy reopens.

*ASX 200 expected to surge higher.*
It looks set to be fantastic day for the ASX 200. According to the latest SPI futures, the benchmark index is expected to jump 105 points or 1.9% higher at the open. This follows a great start to the week on Wall Street which saw the Dow Jones rise 3.85%, the S&P 500 climb 3.15%, and the Nasdaq index storm 2.45% higher.










https://www.usnews.com/news/busines...ise-after-fed-chief-optimistic-about-recovery

*US Stocks Rally on Hopes for Vaccine and Economic Recovery*
Stocks rallied on Wall Street Monday as investors became hopeful that more progress was being made in getting countries past the worst of the coronavirus pandemic.
By Associated Press, Wire Service Content May 18, 2020, at 4:37 p.m. 

By ALEX VEIGA, AP Business Writer

The stock market bounced back from its worst week in nearly two months Monday as optimism about a potential vaccine for the coronavirus and hopes for a U.S. economic recovery in the second half of the year put investors in a buying mood.

The S&P 500 climbed 3.2%, its best day since early April. The gains erased all of its losses from last week, when the index posted its worst showing since late March and its third weekly loss in the last four. Bond yields rose broadly in another sign that investors were becoming more optimistic.

Stocks were already headed for a higher opening on Wall Street when a drug company announced encouraging results in very early testing of an experimental coronavirus vaccine. The stock of the company, Massachusetts-based Moderna, jumped 20%.

Investors were also encouraged by remarks over the weekend from Federal Reserve Chair Jerome Powell, who expressed optimism that the U.S. economy could begin to recover in the second half of the year. Once the outbreak has been contained, he said, the economy should be able to rebound “substantially.”

The S&P 500 gained 90.21 points to 2,953.91. The benchmark index is still down 12.8% from its all-time high on February 19.

The Dow Jones Industrial Average climbed 911.95 points, or 3.9%, to 24,597.37. The Nasdaq composite rose 220.27 points, or 2.4%, to 9,234.83. Small-company stocks fared better than the rest of the market. The Russell 2000 index picked up 76.70 points, or 6.1%, to 1,333.69.

Investors are hoping that a working vaccine for COVID-19 can be developed and that it will help reassure people and businesses as the economy reopens.

“The question of how quickly people come back, or will they come back to the way they used to do things, that’s much different if you have a vaccine,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors.

Traders are also encouraged that, so far at least, there hasn't been a lot of data implying the reopening of the economy is going to lead to a resurgence in the number of COVID-19 cases, said Sam Stovall, chief investment strategist at CFRA.

“Of course, because we are responding to impressions, we could end up giving back some of these gains should additional information contest our beliefs," he said.

Technology, financial and industrial stocks accounted for a big slice of the broad gains, along with companies that rely on consumer spending. Energy stocks also rose as the price of U.S. crude oil closed above $30 a barrel for the first time in two months. Oil production cuts are kicking in at the same time that demand is rising as the U.S. and other countries ease some of the restrictions aimed at stemming the spread of the outbreak.

Benchmark U.S. crude oil for June delivery jumped 8.1% to settle at $31.82 a barrel. July Brent crude oil, the international standard, vaulted 7.1% to $34.81 a barrel.

Bonds yields rose, another sign that pessimism was diminishing. The yield on the 10-year Treasury note, a benchmark for interest rates on many consumer loans, rose to 0.72% from 0.64% late Friday.

Fears of a crushing recession due to the coronavirus sent the S&P 500 into a skid of more than 30% from its high in February. Hopes for a relatively quick rebound and unprecedented moves by the Federal Reserve and Congress to stem the economic pain fueled a historic rebound for stocks in April.

May got off to a downbeat start as investors balance cautious optimism of a recovery as economies around the world slowly open up again against worries that the moves could lead to another surge in coronavirus infections and more economic uncertainty. But Monday's strong start to the week reversed all of the market's losses so far this month.

“We had a near 30% advance from the March 23 low to April 17, and then basically treaded water for a month as investors were expecting some sort of a retest of the prior low, which obviously did not come,” Stovall said. “Usually, markets need to catch their breath after a sprint higher.”

Wall Street is hoping that the reopening of businesses and the relaxation of stay-at-home mandates continue without any major setbacks, paving the way for corporate profits to bounce back.

Europe has been taking steps to reopen its economy more widely, and so far, new infections and deaths have slowed considerably across the continent. Some countries there started easing lockdowns a month ago and even the harshest shutdowns — such as those in Italy and Spain — have loosened significantly.

Markets in Europe also notched strong gains Monday. The FTSE 100 in London rose 4.3% and the DAX in Frankfurt climbed 5.7%. France's CAC 40 rose 5.2%. Markets in Asia finished broadly higher.


----------



## bigdog

Stocks ended broadly lower on Wall Street Tuesday as trading turned wobbly a day after the market notched its biggest jump in more than five weeks.

The S&P 500 fell 1% after having been up by 0.4% in the early going. Losses in banks, health care stocks and household goods companies accounted for a big portion of the selling. A late-day slide erased early strength in technology stocks and companies that rely on consumer spending.

Bond yields mostly fell and the price of gold rose, signs that investors were feeling cautious.

“Today is a little bit of a pause day after a significant rally,” said Eric Freedman, chief investment officer at U.S. Bank Wealth Management.

Investors are betting that the economy and corporate profits will begin to recover from the coronavirus pandemic as the U.S. and countries around the world slowly open up again. However, concerns remain that the relaxing of stay-at-home mandates and the reopening of businesses could lead to another surge in infections, potentially ushering in another wave of shutdowns.

The S&P 500 lost 30.97 points to 2,922.94, snapping a three-day winning streak. The Dow Jones Industrial Average fell 390.51 points, or 1.6%, to 24,206.86. The Nasdaq composite dropped 49.72 points, or 0.5%, to 9,185.10. The Russell 2000 index of small-company stocks gave up 25.97 points, or 1.9%, to 1,307.72.

Wall Street kicked off the week with a bang, as optimism about a potential vaccine for COVID-19 and hopes for a U.S. economic recovery in the second half of the year pushed stocks sharply higher Monday, reversing all of the market's losses so far this month. Tuesday's selling cut into some of those gains. The S&P 500 is now down 13.7% from its all-time high in February.

Investors are focused on gauging the risk for a second or third wave of coronavirus cases as more swaths of the U.S. reopen for business.

*ASX 200 expected to drop lower.*
The ASX 200 looks set to end its winning streak on Wednesday. According to the latest SPI futures, the benchmark index is expected to open the day 1.5% or 82 points lower. This follows a disappointing night of trade on Wall Street, which saw the Dow Jones fall 1.6%, the S&P 500 drop 1.05%, and the Nasdaq index slide 0.55% lower.










https://www.usnews.com/news/busines...-on-hopes-for-vaccine-and-economies-reopening

*A Late Slump Leaves Stock Market Lower After a Choppy Day*
A late slide left the stock market broadly lower at the end of a choppy day of trading.
By Associated Press, Wire Service Content May 19, 2020, at 4:53 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Stocks ended broadly lower on Wall Street Tuesday as trading turned wobbly a day after the market notched its biggest jump in more than five weeks.

The S&P 500 fell 1% after having been up by 0.4% in the early going. Losses in banks, health care stocks and household goods companies accounted for a big portion of the selling. A late-day slide erased early strength in technology stocks and companies that rely on consumer spending.

Bond yields mostly fell and the price of gold rose, signs that investors were feeling cautious.

“Today is a little bit of a pause day after a significant rally,” said Eric Freedman, chief investment officer at U.S. Bank Wealth Management.

Investors are betting that the economy and corporate profits will begin to recover from the coronavirus pandemic as the U.S. and countries around the world slowly open up again. However, concerns remain that the relaxing of stay-at-home mandates and the reopening of businesses could lead to another surge in infections, potentially ushering in another wave of shutdowns.

The S&P 500 lost 30.97 points to 2,922.94, snapping a three-day winning streak. The Dow Jones Industrial Average fell 390.51 points, or 1.6%, to 24,206.86. The Nasdaq composite dropped 49.72 points, or 0.5%, to 9,185.10. The Russell 2000 index of small-company stocks gave up 25.97 points, or 1.9%, to 1,307.72.

Wall Street kicked off the week with a bang, as optimism about a potential vaccine for COVID-19 and hopes for a U.S. economic recovery in the second half of the year pushed stocks sharply higher Monday, reversing all of the market's losses so far this month. Tuesday's selling cut into some of those gains. The S&P 500 is now down 13.7% from its all-time high in February.

Investors are focused on gauging the risk for a second or third wave of coronavirus cases as more swaths of the U.S. reopen for business.

“As long as we have a supportive Fed, a responsive legislative branch that is at least open to considering more stimulus, and we see openings occur on a measured, but consistent basis, we still think there’s still basis for this market to be propelled higher,” Freedman said.

Still, quarterly results from big retailers Tuesday underscore the challenges companies face as long as the outbreak weighs on consumers and compels government officials to mandate restrictions on commerce. Companies that have been able to remain open or effectively amplify their e-commerce business have been able to fare far better than those that have had to temporarily close doors.

Walmart reported a 74% surge in fiscal first-quarter sales as people stocked up on crucial supplies while sheltering in place due to the coronavirus. Its earnings fell as it spent $900 million in additional compensation for workers, but still topped Wall Street's forecasts. Its shares initially headed higher, but finished 2.1% lower.

Meanwhile, Kohl’s, whose stores have been closed during the outbreak, fell 7.7% after reporting that it swung to a $541 million quarterly loss as its revenue sank more than 40%.

Traders also hammered shares in Home Depot after the home improvement supply chain reported quarterly results that fell short of Wall Street's estimates. While the company benefited from a surge in homeowners rushing to buy essential supplies, increased spending on employee compensation and other costs related to the coronavirus dragged on its profits. The stock fell 3%.

“Investors have been looking for companies and sectors that could do well in the current environment,” said Sal Bruno, chief investment officer of IndexIQ. “Looking forward, where does that continued leadership come from?”

The Commerce Department said residential construction ground breakings fell in April to their lowest level in five years. But building permits, a gauge of potential future construction activity, fell less than analysts had expected. That helped push several homebuilder stocks higher. Beazer Homes USA led the pack, surging 5.9%.

Oil prices ended mixed, though they remained above $30 a barrel. Benchmark U.S. crude oil for June delivery rose 68 cents, or 2.1%, to settle at $32.50 a barrel. July delivery of Brent crude oil, the international standard, fell 16 cents, or 0.5%, to $34.65 a barrel.

Prices have firmed up as oil producing nations cut back on output and as the gradual reopening of the economies around the globe helps spur demand, which crashed earlier this year due to widespread travel and business shutdowns related to the coronavirus. Crude oil started the year at about $60 a barrel.

Bonds yields mostly fell. The yield on the 10-year Treasury note, a benchmark for interest rates on many consumer loans, slid to 0.68% from 0.74% late Monday.

France’s CAC 40 lost 0.9%, while Germany’s DAX inched up 0.1%. Britain’s FTSE 100 dropped 0.8%. Markets in Asia finished higher.


----------



## bigdog

Stocks closed broadly higher on Wall Street Wednesday, clawing back all their losses from a day earlier and extending their strong gains for the week.

The S&P 500 rose 1.7% as the market bounced back from a sudden drop on Tuesday that snapped the index's three-day winning streak. Crude oil prices posted their fifth straight gain.

Technology, the only sector that's holding on to a gain for the year, accounted for much of the market's upward move. Communications companies and banks also helped drive the market higher. Major stock indexes in Europe and Asia also finished higher. Bond yields fell, a sign of caution in the market.

Fresh hope about a potential vaccine for COVID-19 and optimism that the U.S. economy will recover in the second half of the year as businesses gradually reopen and stay-at-home orders aimed at stemming the spread of the coronavirus are relaxed have spurred stocks higher this week.

“Although this is optimism, this is very cautious optimism,” said J.J. Kinahan, chief strategist with TD Ameritrade. “You’re seeing people also buy bonds today. That’s very surprising seeing the stock market doing well and also seeing people buy bonds.”

The S&P 500 gained 48.67 points to 2,971.61. The Dow Jones Industrial Average rose 369.04 points, or 1.5%, to 24,575.90. The Nasdaq composite, which is heavily weighted with technology stocks, climbed 190.67 points, or 2.1%, to 9,375.78. Small-company stocks led the rest of the market, sending the Russell 2000 index up 39.21 points, or 3%, to 1,346.93.

With the gains so far this week, the S&P 500 has recouped its losses from last week and is on track for its best weekly gain since early April. The index is still down about 12% from its all-time high in February.

*ASX 200 expected to rise again*
It looks set to be another positive day of trade for the ASX 200 index. According to the latest SPI futures, the benchmark index is expected to open the day 43 points or 0.8% higher. This follows a strong night on Wall Street which saw the Dow Jones jump 1.5%, the S&P 500 rise 1.7%, and the Nasdaq race 2.1% higher.











https://www.usnews.com/news/busines...mixed-as-virus-worries-counter-recovery-hopes

*Stocks Close Higher as Investors Regain Some More Confidence*
Stocks posted solid gains on Wall Street Wednesday, erasing their losses from a day earlier.
By Associated Press, Wire Service Content May 20, 2020, at 5:30 p.m. 

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Stocks closed broadly higher on Wall Street Wednesday, clawing back all their losses from a day earlier and extending their strong gains for the week.

The S&P 500 rose 1.7% as the market bounced back from a sudden drop on Tuesday that snapped the index's three-day winning streak. Crude oil prices posted their fifth straight gain.

Technology, the only sector that's holding on to a gain for the year, accounted for much of the market's upward move. Communications companies and banks also helped drive the market higher. Major stock indexes in Europe and Asia also finished higher. Bond yields fell, a sign of caution in the market.

Fresh hope about a potential vaccine for COVID-19 and optimism that the U.S. economy will recover in the second half of the year as businesses gradually reopen and stay-at-home orders aimed at stemming the spread of the coronavirus are relaxed have spurred stocks higher this week.

“Although this is optimism, this is very cautious optimism,” said J.J. Kinahan, chief strategist with TD Ameritrade. “You’re seeing people also buy bonds today. That’s very surprising seeing the stock market doing well and also seeing people buy bonds.”

The S&P 500 gained 48.67 points to 2,971.61. The Dow Jones Industrial Average rose 369.04 points, or 1.5%, to 24,575.90. The Nasdaq composite, which is heavily weighted with technology stocks, climbed 190.67 points, or 2.1%, to 9,375.78. Small-company stocks led the rest of the market, sending the Russell 2000 index up 39.21 points, or 3%, to 1,346.93.

With the gains so far this week, the S&P 500 has recouped its losses from last week and is on track for its best weekly gain since early April. The index is still down about 12% from its all-time high in February.

Investors are betting that the economy and corporate profits will begin to recover as the U.S. and countries around the world slowly open up again. However, concerns remain that as more people venture out it could lead to another surge in infections, potentially ushering in another wave of shutdowns.

“What it all comes down to is consumer spending," said Scott Wren, senior global market strategist at Wells Fargo Investment Institute. "If we’re all still sitting home in September or October, the market is going to go lower.”

The market is getting some insight into how companies are navigating the economic fallout from the coronavirus this week as several retailers report quarterly results. Lowe's and Target reported quarterly results that topped Wall Street's forecasts as they benefited from people stocking up on supplies at the stores and online during the coronavirus lockdown. The companies also reported a sharp increase in costs related to the pandemic.

After rising initially, Lowe’s shares closed only 0.1% higher, while Target fell 2.9% as some traders questioned whether the companies’ results will weaken as the economy opens up and people have more shopping options.

Wall Street also hammered Royal Caribbean after the cruise line operator said it booked a $1.4 billion first-quarter loss as it was forced to suspend operations due the pandemic. Its stock briefly climbed after the company said bookings for 2021 are within historical ranges, but then closed 3.4% lower.

Oil prices, which have nearly doubled since late April, continued to climb. Benchmark U.S. crude for July delivery rose $1.53, or 4.8%, to settle at $33.49 a barrel. July Brent crude oil, the international standard, gained $1.10, or 3.2%, to close at $35.75 a barrel.

The price of oil has made a comeback this month as oil producing nations cut back on output and the gradual reopening of economies around the globe have driven up demand. Crude oil started the year at about $60 a barrel, but plummeted earlier this year as demand sank due to widespread travel and business shutdowns related to the coronavirus.

Bonds yields were mostly lower. The yield on the 10-year Treasury note, a benchmark for interest rates on many consumer loans, fell to 0.68% from 0.71% late Tuesday.

Global stock markets moved broadly higher. France’s CAC 40 rose 0.9%, while Germany’s DAX climbed 1.3%. Britain’s FTSE 100 rose 1.1%. Markets closed mostly higher in Asia.


----------



## bigdog

Stocks closed broadly lower on Wall Street Thursday as investors weighed more data showing the economic damage being caused by the coronavirus pandemic and another flareup in tensions between the U.S. and China.

The S&P 500 fell 0.8%, shedding some of the gains it made in a solid rally a day earlier, though it remains on track to end the week sharply higher. Bond yields were mixed. Oil prices closed higher, extending a string of gains.

Technology and health care stocks took some of the heaviest losses. Only industrial sector stocks eked out a gain. Homebuilders, meanwhile, moved broadly higher, extending the group’s solid rally this month.

“It really looks like a little bit of weakness ahead of the long holiday weekend,” said Ryan Detrick, senior market strategist for LPL Financial. U.S. markets will be closed Monday for Memorial Day.

The S&P 500 slid 23.10 points to 2,948.51. The Dow Jones Industrial Average fell 101.78 points, or 0.4%, to 24,474.12. The Nasdaq composite lost 90.90 points, or 1%, to 9,284.88. Small-company stocks, which have notched the biggest gains this week, bucked the downward trend. The Russell 2000 inched up 0.63 points, less than 0.1%, to 1,347.56.

The selling was tentative at first, but gained momentum as the day progressed. Initially, traders reacted to news that the White House had issued a report attacking China’s economic and military policies, and its human rights violations. The report expands on President Donald Trump’s get-tough rhetoric that he hopes will resonate with voters angry about China’s handling of the disease outbreak.

U.S. markets will be closed Monday for Memorial Day.

*ASX 200 expected to edge lower.*
The ASX 200 index looks set to edge lower on Friday. According to the latest SPI futures, the benchmark index is expected to open the day 1 point lower. This follows a weak night on Wall Street which saw the Dow Jones drop 0.4%, the S&P 500 fall 0.8%, and the Nasdaq tumble 1% lower.











https://www.usnews.com/news/busines...ks-mixed-amid-china-tension-with-us-australia

*Stocks End Lower on Wall Street as US-China Tensions Weigh*
Stocks ended lower on Wall Street as tensions flared again between the U.S. and China and as more dismal news came out detailing economic fallout from the coronavirus pandemic.
By Associated Press, Wire Service Content May 21, 2020, at 4:46 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Stocks closed broadly lower on Wall Street Thursday as investors weighed more data showing the economic damage being caused by the coronavirus pandemic and another flareup in tensions between the U.S. and China.

The S&P 500 fell 0.8%, shedding some of the gains it made in a solid rally a day earlier, though it remains on track to end the week sharply higher. Bond yields were mixed. Oil prices closed higher, extending a string of gains.

Technology and health care stocks took some of the heaviest losses. Only industrial sector stocks eked out a gain. Homebuilders, meanwhile, moved broadly higher, extending the group’s solid rally this month.

“It really looks like a little bit of weakness ahead of the long holiday weekend,” said Ryan Detrick, senior market strategist for LPL Financial. U.S. markets will be closed Monday for Memorial Day.

The S&P 500 slid 23.10 points to 2,948.51. The Dow Jones Industrial Average fell 101.78 points, or 0.4%, to 24,474.12. The Nasdaq composite lost 90.90 points, or 1%, to 9,284.88. Small-company stocks, which have notched the biggest gains this week, bucked the downward trend. The Russell 2000 inched up 0.63 points, less than 0.1%, to 1,347.56.

The selling was tentative at first, but gained momentum as the day progressed. Initially, traders reacted to news that the White House had issued a report attacking China’s economic and military policies, and its human rights violations. The report expands on President Donald Trump’s get-tough rhetoric that he hopes will resonate with voters angry about China’s handling of the disease outbreak.

Meanwhile, the State Department announced that it had approved the sale of advanced torpedoes to the Taiwanese military, a move sure to draw a rebuke from Beijing, which regards the island as a renegade province.

The government's latest weekly snapshot of applications for unemployment aid didn't help. The Labor Department said more than 2.4 million people applied for U.S. unemployment benefits last week. All told, the running total of Americans who have lost their jobs in the two months since the coronavirus led to a near shutdown of the economy has climbed to 38.6 million.

Despite a week of uneven finishes, Wall Street is on track to recoup its losses from last week amid fresh hopes for a U.S. economic recovery in the second half of the year and optimism about a potential vaccine for COVID-19. A strong rally on Monday reversed all of the market’s losses for the month. The index is still down about 13% from its high in February.

Investors are betting that the economy and corporate profits will begin to recover from the coronavirus pandemic as the U.S. and countries around the world slowly open up again. However, concerns remain that the relaxing of stay-at-home mandates and the reopening of businesses could lead to another surge in infections, potentially ushering in another wave of shutdowns.

“Clearly we’re all going to be anticipating how things slowly start to open up to see exactly what happens with cases over the next several weeks,” Detrick said.

The National Association of Realtors said sales of previously occupied U.S. homes plunged 17.8% in April as the housing market remained hobbled by the coronavirus shutdowns. The downbeat report didn't hurt homebuilder stocks, which climbed broadly. The pullback in sales came as the inventory of properties on the market fell to a record low last month. A drop in homes for sale favors builders because it represents less competition. Meanwhile, Freddie Mac said mortgage rates eased this week, another favorable trend for builders. KB Home led the sector, gaining 5.2%.

Oil prices closed higher for the sixth day day in a row. Benchmark U.S. crude oil for July delivery rose 43 cents, or 1.3%, to settle at $33.92 a barrel. July Brent crude oil, the international standard, gained 31 cents, or 0.9%, to close at $36.06 a barrel.

Crude oil started the year at about $60 a barrel, but plummeted earlier this year as demand sank due to widespread travel and business shutdowns related to the coronavirus. The price has risen this month as oil producing nations cut back on output and the gradual reopening of economies around the globe have driven up demand.

Bonds yields were mixed. The yield on the 10-year Treasury note, a benchmark for interest rates on many consumer loans, fell to 0.66% from 0.68% late Wednesday.

European stock indexes closed broadly lower after shedding some gains. Asian stock markets finished lower.


----------



## bigdog

Stock indexes finished mostly higher Friday as Wall Street shook off an early slide, closing out a solid week of gains for the market.

The S&P 500 index inched up 0.2% after having been down 0.5%. It ended the week with a 3.2% gain, largely due to a big rally on Monday that offset all of the benchmark index’s losses from earlier in the month.

Strength in technology, communications and real estate stocks helped reverse much of the market’s early slide. Energy stocks fell the most as crude oil prices closed lower after six straight gains. Bond yields were mixed. Trading was choppy for much of the day ahead of the long holiday weekend. Markets in the U.S. will be closed Monday for Memorial Day.

Fresh hopes for a U.S. economic recovery in the second half of the year and optimism about a potential vaccine for COVID-19 helped spur stocks higher for much of the week. Investors are betting that the economy and corporate profits will begin to recover from the coronavirus pandemic as the U.S. and countries around the world slowly open up again.

Traders remain wary, however, that the reopening of businesses could lead to another surge in infections, potentially hobbling efforts to get the nation’s battered economy growing again.

“We’re in a bit of a hold right now looking for the next catalyst,” said Brian Levitt, global market strategist at Invesco. “There’s still an awful lot of uncertainty we have to work though.”

The S&P 500 rose 6.94 points to 2,955.45. The index is still down 12.7% from its all-time high in February. The Dow Jones Industrial Average slipped 8.96 points, or less than 0.1%, to 24,465.16. The Nasdaq composite added 39.71 points, or 0.4%, to 9,324.59.

Despite the uneven finish, the three major stock indexes each ended the week more than 3% higher. Those gains were blown away by the rally in small company stocks, which drove the Russell 2000 index 7.8% higher for the week, a bullish signal suggesting that investors expect that the economy is on the path to recovery. On Friday, the Russell 2000 gained 7.97 points, or 0.6%, to 1,355.53.

Fears of a crushing recession due to the coronavirus sent the S&P 500 into a skid of more than 30% from its high in February. Hopes for a relatively quick rebound and unprecedented moves by the Federal Reserve and Congress to stem the economic pain drove a historic rebound for stocks in April and have bolstered optimism that the market won't return to the depths its experienced in March.

*U.S. markets will be closed Monday for Memorial Day*.










https://www.usnews.com/news/busines...all-on-us-friction-with-china-hong-kong-fears

*Wall Street Ends a Choppy Day Mostly Higher; Crude Oil Falls*
Wall Street shook off a weak start and ended a wobbly day mostly higher, extending its gains for the week.
By Associated Press, Wire Service Content May 22, 2020, at 5:07 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Stock indexes finished mostly higher Friday as Wall Street shook off an early slide, closing out a solid week of gains for the market.

The S&P 500 index inched up 0.2% after having been down 0.5%. It ended the week with a 3.2% gain, largely due to a big rally on Monday that offset all of the benchmark index’s losses from earlier in the month.

Strength in technology, communications and real estate stocks helped reverse much of the market’s early slide. Energy stocks fell the most as crude oil prices closed lower after six straight gains. Bond yields were mixed. Trading was choppy for much of the day ahead of the long holiday weekend. Markets in the U.S. will be closed Monday for Memorial Day.

Fresh hopes for a U.S. economic recovery in the second half of the year and optimism about a potential vaccine for COVID-19 helped spur stocks higher for much of the week. Investors are betting that the economy and corporate profits will begin to recover from the coronavirus pandemic as the U.S. and countries around the world slowly open up again.

Traders remain wary, however, that the reopening of businesses could lead to another surge in infections, potentially hobbling efforts to get the nation’s battered economy growing again.

“We’re in a bit of a hold right now looking for the next catalyst,” said Brian Levitt, global market strategist at Invesco. “There’s still an awful lot of uncertainty we have to work though.”

The S&P 500 rose 6.94 points to 2,955.45. The index is still down 12.7% from its all-time high in February. The Dow Jones Industrial Average slipped 8.96 points, or less than 0.1%, to 24,465.16. The Nasdaq composite added 39.71 points, or 0.4%, to 9,324.59.

Despite the uneven finish, the three major stock indexes each ended the week more than 3% higher. Those gains were blown away by the rally in small company stocks, which drove the Russell 2000 index 7.8% higher for the week, a bullish signal suggesting that investors expect that the economy is on the path to recovery. On Friday, the Russell 2000 gained 7.97 points, or 0.6%, to 1,355.53.

Fears of a crushing recession due to the coronavirus sent the S&P 500 into a skid of more than 30% from its high in February. Hopes for a relatively quick rebound and unprecedented moves by the Federal Reserve and Congress to stem the economic pain drove a historic rebound for stocks in April and have bolstered optimism that the market won't return to the depths its experienced in March.

Investors are now keenly focused on the process of reopening the U.S. economy, which is likely to continue accelerating as the summer progresses.

“The markets are expecting a reasonable resumption of economic activity, a manageable increase in coronavirus cases and a manageable situation when it comes to our health care system,” said Mike Zigmont, head of trading and research at Harvest Volatility Management. "If we have a second freezing of the economy, then this market is grossly overvalued and the only people that are right now are the bears.”

Oil prices fell, snapping a six-day winning streak. Benchmark U.S. crude oil fell 2% to settle at $33.25 a barrel. Brent crude oil, the international standard, fell 2.6% to settle at $35.13 a barrel.

Crude oil started the year at about $60 a barrel, but plummeted earlier this year as demand sank due to widespread travel and business shutdowns related to the coronavirus. The price has risen this month as oil producing nations cut back on output and the gradual reopening of economies around the globe have driven up demand.

Bonds yields were mixed. The yield on the 10-year Treasury note, a benchmark for interest rates on many consumer loans, fell to 0.66% from 0.67% late Thursday.

The choppy trading on Wall Street followed a downbeat day in Asia. Hong Kong’s main index dropped 5.6% after China made more moves to limit political opposition in the former British colony. Beijing also abandoned its longstanding practice of setting economic growth targets. European markets shook off some early weakness and ended mixed.

Beijing's move to take over long-stalled efforts to enact national security legislation in semi-autonomous Hong Kong spooked investors in Asian markets who have endured months of pro-democracy demonstrations last year that at times descended into violence between police and protesters.

The proposed bill is aimed at forbidding secessionist and subversive activity, as well as foreign interference and terrorism. The move has drawn strong rebukes from the U.S. government and rights groups.

368


----------



## bigdog

*ASX 200 expected to storm higher.*
The ASX 200 looks set to start the week strongly. According to the latest SPI futures, the index is expected to open the day 65 points or 1.2% higher this morning. This follows a reasonably positive end to the week on Wall Street. The Dow Jones was flat, the S&P 500 rose 0.25%, and the Nasdaq pushed 0.4% higher.

*U.S. markets will be closed Monday for Memorial Day*.


----------



## bigdog

Global shares rose Monday, with Europe tracking gains in Asia despite news that the German economy fell into recession in the first quarter of the year amid the coronavirus pandemic.

France's CAC 40 gained 0.8% in early trading to 4,479.60, while Germany's DAX jumped 1.2% to 11,206.26. British markets were closed for a bank holiday. U.S. markets will be closed for Memorial Day.

Germany joined other major economies in logging its worst downturn since the global financial crisis more than a decade ago, as exports and consumer spending took a hit from shutdowns and other disruptions resulting from the pandemic.

Its economy contracted 2.2% in January-March from a year earlier, the Federal Statistical Office said. It said investments in the engineering sector, construction and public spending helped to prevent an even bigger downturn.

Since Germany’s economy dipped 0.1% in the last quarter of 2019, the country has entered what is known as a “technical recession.”

The mood was upbeat, also, in Asia, where Japan’s benchmark Nikkei 225 added 1.7% to finish at 20,741.65 ahead of Prime Minister Shinzo Abe's announcement that the state of emergency that still was in effect for Tokyo and several other areas was ending as outbreaks appeared to be subsiding.

“We have drawn the attention of the world,” Abe said. “We will take a strong step forward.”

Elsewhere in Asia, South Korea’s Kospi gained 1.2% to 1,994.60 and Australia’s S&P/ASX 200 jumped 2.2% to 5,615.60.

*ASX 200 expected to push higher again.*
It looks set to be another positive day of trade for the ASX 200. According to the latest SPI futures, the index is expected to open the day 47 points or 0.85% higher this morning. This is despite Wall Street and the UK being closed for public holidays. In Europe the DAX was on form and jumped 2.9% higher on reopening optimism.

*U.S. markets were closed Monday for Memorial Day*.





*Rest of World Monday



*









https://www.usnews.com/news/busines...ares-climb-tokyo-gains-on-hopes-for-reopening

*Global Shares Rise on Hopes for Economies' Gradual Reopening*
Global shares are higher, with Europe tracking gains in Asia despite news that the German economy fell into recession in the first quarter of the year amid the coronavirus pandemic.
By Associated Press, Wire Service Content May 25, 2020, at 5:45 a.m. 

By YURI KAGEYAMA, AP Business Writer

TOKYO (AP) — Global shares rose Monday, with Europe tracking gains in Asia despite news that the German economy fell into recession in the first quarter of the year amid the coronavirus pandemic.

France's CAC 40 gained 0.8% in early trading to 4,479.60, while Germany's DAX jumped 1.2% to 11,206.26. British markets were closed for a bank holiday. U.S. markets will be closed for Memorial Day.

Germany joined other major economies in logging its worst downturn since the global financial crisis more than a decade ago, as exports and consumer spending took a hit from shutdowns and other disruptions resulting from the pandemic.

Its economy contracted 2.2% in January-March from a year earlier, the Federal Statistical Office said. It said investments in the engineering sector, construction and public spending helped to prevent an even bigger downturn.

Since Germany’s economy dipped 0.1% in the last quarter of 2019, the country has entered what is known as a “technical recession.”

The mood was upbeat, also, in Asia, where Japan’s benchmark Nikkei 225 added 1.7% to finish at 20,741.65 ahead of Prime Minister Shinzo Abe's announcement that the state of emergency that still was in effect for Tokyo and several other areas was ending as outbreaks appeared to be subsiding.

“We have drawn the attention of the world,” Abe said. “We will take a strong step forward.”

Elsewhere in Asia, South Korea’s Kospi gained 1.2% to 1,994.60 and Australia’s S&P/ASX 200 jumped 2.2% to 5,615.60.

Shares in Hong Kong fell initially after police used tear gas to quell weekend protests over a proposed national security bill for the former British colony. By the end of the day, but recouped earlier losses to be little changed. Hong Kong’s Hang Seng inched up less than 0.1% to 22,952.24. The Shanghai Composite picked up 0.2% to 2,817.97.

The protests in Hong Kong in response to legislation presented to China's National People's Congress, which is now meeting in Beijing, were the largest in months despite bans on large gathering meant to prevent spreading the coronavirus.

The revival of sometimes violent pro-democracy protests that rocked the city for much of 2019 raises the likelihood of more tensions between Beijing and Washington over China's efforts to exert more control over the semi-autonomous territory.

“With more riots in the street amid the knockdown effects of COVID-19 and a possible exodus of jobs from the city's financial center, surely things will get much worse before better," Stephen Innes of AxiCorp said in a commentary.

Japan has followed South Korea, China and several other Asian countries in relaxing precautions as the pace of new coronavirus infections has ebbed.

Abe said, however, that the nation needs to adopt “new thinking” for a lifestyle that keeps social distancing restrictions to avoid contagion but will also allow an economic recovery. He urged people to continue to fear the virus, wear masks and wash hands regularly.

People are still being requested to avoid mingling in crowds. Concerts will be allowed with up to 100 people in the audience at first. The professional baseball season will kick off next month with no spectators in the stands.

Japan has reported about 820 deaths and more than 16,000 cases, relatively few compared to hard-hit nations like the U.S.

In other trading Monday, benchmark U.S. crude oil picked up 9 cents to $33.34 a barrel. It fell 2%, or 67 cents, to $33.25 a barrel on Friday. Brent crude oil, the international standard, lost 11 cents to $35.02 a barrel.

Crude oil started the year at about $60 a barrel and then plummeted as demand sank due to widespread travel and business shutdowns related to the coronavirus.

The U.S. dollar inched up to 107.69 Japanese yen from 107.63 yen late Friday. The euro fell to $1.0884 from $1.0901.


----------



## bigdog

Stocks closed higher on Wall Street Tuesday, driving the S&P 500 and Dow Jones Industrial Average to their highest levels in nearly three months as optimism over the reopening of the economy overshadowed lingering worries about the coronavirus pandemic.

The S&P 500 rose 1.2%, for a time climbing above the 3,000-point mark for the first time since March 5, until a burst of selling in the final minutes of trading trimmed the market's gains. The Dow spent much of the day above the 25,000-point threshold for the first time since March 10, but the late pullback knocked it slightly lower. The indexes haven't been at these levels since before widespread business shutdowns aimed at slowing the spread of the outbreak sent the U.S. economy into a sharp skid.

The post-Memorial Day rally followed a strong rise in global markets as more nations push to open their economies. Financial and industrial stocks accounted for much of the market's gains. Companies that rely on consumer spending also rose broadly. Airlines were big winners as traders welcomed data showing a pickup in air travel during the long holiday weekend.

“That was one of the concerns of the recovery, that people would be hesitant to resume their lives,” said Willie Delwiche, investment strategist at Baird. “This is a stock market that’s looking ahead to the economy improving and maybe moving beyond the lockdown mentality...Two weeks from now, if you have a spike in cases, then everyone will reconsider things.”

The S&P 500 rose 36.32 points, or 1.2%, to 2,991.77. The index was coming off a solid week and is on track for a second-straight month of gains. It remains down 11.7% from its all-time high in February.

The Dow climbed 529.95 points, or 2.2%, to 24,995.11. The index had been up more than 700 points. The Nasdaq rose 15.63 points, or 0.2%, to 9,340.22. The Russell 2000 index of small companies gained 37.54 points, or 2.8%, to 1,393.07.

Fears of a crushing recession due to the coronavirus sent the S&P 500 into a skid of more than 30% in March. Hopes for a relatively quick rebound and unprecedented moves by the Federal Reserve and Congress to stem the economic pain drove a historic rebound for stocks in April and have bolstered optimism that the market won’t return to the depths seen two months ago.

*ASX 200 expected to tumble.*
The ASX 200 index looks set to give back some of yesterday’s gains on Wednesday. According to the latest SPI futures, the index is expected to open the day 63 points or 1.1% lower this morning. This follows a positive but not spectacular start to the week on Wall Street overnight following Monday’s public holiday. The Dow Jones rose 2.2%, the S&P 500 climbed 1.2%, and the Nasdaq edged 0.2% higher.










https://www.usnews.com/news/busines...up-as-recovery-hopes-overshadow-virus-worries

*Wall Street up as Recovery Hopes Overshadow Virus Worries*
Wall Street is closing higher as hopes for economic recovery overshadow worries over the coronavirus pandemic.
By Associated Press, Wire Service Content May 26, 2020, at 4:48 p.m.

By ALEX VEIGA, AP Business Writer

Stocks closed higher on Wall Street Tuesday, driving the S&P 500 and Dow Jones Industrial Average to their highest levels in nearly three months as optimism over the reopening of the economy overshadowed lingering worries about the coronavirus pandemic.

The S&P 500 rose 1.2%, for a time climbing above the 3,000-point mark for the first time since March 5, until a burst of selling in the final minutes of trading trimmed the market's gains. The Dow spent much of the day above the 25,000-point threshold for the first time since March 10, but the late pullback knocked it slightly lower. The indexes haven't been at these levels since before widespread business shutdowns aimed at slowing the spread of the outbreak sent the U.S. economy into a sharp skid.

The post-Memorial Day rally followed a strong rise in global markets as more nations push to open their economies. Financial and industrial stocks accounted for much of the market's gains. Companies that rely on consumer spending also rose broadly. Airlines were big winners as traders welcomed data showing a pickup in air travel during the long holiday weekend.

“That was one of the concerns of the recovery, that people would be hesitant to resume their lives,” said Willie Delwiche, investment strategist at Baird. “This is a stock market that’s looking ahead to the economy improving and maybe moving beyond the lockdown mentality...Two weeks from now, if you have a spike in cases, then everyone will reconsider things.”

The S&P 500 rose 36.32 points, or 1.2%, to 2,991.77. The index was coming off a solid week and is on track for a second-straight month of gains. It remains down 11.7% from its all-time high in February.

The Dow climbed 529.95 points, or 2.2%, to 24,995.11. The index had been up more than 700 points. The Nasdaq rose 15.63 points, or 0.2%, to 9,340.22. The Russell 2000 index of small companies gained 37.54 points, or 2.8%, to 1,393.07.

Fears of a crushing recession due to the coronavirus sent the S&P 500 into a skid of more than 30% in March. Hopes for a relatively quick rebound and unprecedented moves by the Federal Reserve and Congress to stem the economic pain drove a historic rebound for stocks in April and have bolstered optimism that the market won’t return to the depths seen two months ago.

Fresh optimism about the development of potential vaccines for COVID-19 have also helped lift stocks. Investors are keenly focused on the process of reopening the U.S. economy, which is likely to accelerate over the summer. Concerns remain that reopening businesses could lead to another surge in infections, potentially hobbling efforts to get the nation’s battered economy growing again.

A couple of economic reports gave traders more reason for encouragement Tuesday. The Commerce Department said sales of new U.S. homes inched up 0.6% last month, a surprising gain that hints at the relative health of many consumers. Over the past 12 months, sales are down 6.2%. Meanwhile, the Conference Board said its index of consumer confidence ticked up in May to 86.6 from a reading of 85.7 in April. The index is still down sharply from February's reading, when it climbed to 130.7.

Optimism over the prospect that consumers will be eager and able to spend money as more businesses open helped push travel-related stocks sharply higher Tuesday. Norwegian Cruise Line climbed 15.3%, Royal Caribbean jumped 14.9% and Carnival rose 12.6%.

Airline stocks soared on indications that air travel is recovering from mid-April lows, although it remains down sharply from pre-pandemic levels. The Transportation Security Administration said about 340,000 people passed through airport checkpoints on Memorial Day. That’s 86.4% less than last year’s holiday, but it’s the smallest percentage drop in U.S. air travel since March 22.

UBS upgraded Southwest Airlines to “buy” from “neutral” on better prospects for a recovery in domestic travel. Shares of all six leading U.S. carriers — Delta, American, United, Southwest, Alaska and JetBlue — jumped between 12.6% and 16.3%.

Financial stocks led Wall Street's rally. The sector gained 5%. It's still down 25.3% so far this year.

Bond yields were broadly higher, in another sign of optimism. The yield on the 10-year Treasury note, a benchmark for interest rates on many consumer loans, rose to 0.70% from 0.66% late Friday.

Reassuring comments by the head of China’s central bank helped spur buying in global markets Tuesday. France’s CAC 40 climbed 1.5%, while Germany’s DAX gained 1%. The FTSE 100 in Britain, which was closed on Monday, rose 1.2%. Asian markets closed higher.

In another confidence-boosting development on Wall Street, the New York Stock Exchange reopened its trading floor Tuesday for the first time since mid-March, when it closed due to the coronavirus outbreak.

New York Gov. Andrew Cuomo rang the opening bell at the NYSE, which allowed a limited number of traders back to the floor. It required traders to adhere to social distancing guidelines and wear masks.

“The message of the NYSE reopening is symbolic not only for our community and our country, but it is for the globe,” said Jonathan Corpina, senior managing partner at Meridian Equity Partners and one of the NYSE floor traders. “It’s showing that we are ready to reopen our economy and reopen our country and move things in the right direction.”


----------



## bigdog

Stocks closed higher on Wall Street Wednesday, extending the market's gains into a third day on hopes for a coming economic revival as larger swaths of the country relax stay-at-home mandates imposed due to the coronavirus pandemic and clear the way for more businesses to reopen.

Despite a choppy day of trading, the S&P 500 gained 1.5% and finished above the 3,000-point mark for the first time since early March. The Dow Jones Industrial Average crossed above 25,000 points, where it hasn't closed since March.

Financial, industrial and health care stocks accounted for a big slice of the gains. Department store chains, which took some of the market's worst losses earlier this year when worries about the recession were peaking, surged amid optimism that life can inch back toward normal.

“Today is a little bit of a follow-through from yesterday,” said Bill Northey, senior investment director at U.S. Bank Wealth Management. “This is optimism about the reopening of the U.S. economy and, really, the global economy.”

The S&P 500 index rose 44.36 points to 3,036.13. The index had been down 0.7% before bouncing back toward the end of the day. The Dow gained 553.16 points, or 2.2%, to 25,548.27. The Nasdaq composite also recovered from an early slide, adding 72.14 points, or 0.8%, to 9,412.36. Small company stocks, which have lagged the broader market this year, were big gainers. The Russell 2000 index rose 43.28 points, or 3.1%, to 1,436.36.

The movements followed up on strong gains in Europe, where authorities proposed a 750 billion euro ($825 billion) recovery fund to help carry the region through the recession caused by the response to the coronavirus pandemic. Asian stocks were mixed, as tensions between the United States and China over the independence of Hong Kong weighed on markets there.

The S&P 500 is back to where it was in early March, in the early days of its sell-off on worries about the coming steep recession. It’s now down only 10.3% from its high in February, recovering from a nearly 34% drop in March.

Massive amounts of stimulus for the economy from the Federal Reserve and Capitol Hill helped start the rally in late March. The gains have accelerated more recently on hopes that economic growth can return later this year as governments ease up on business-shutdown orders meant to slow the spread of the coronavirus. In recent weeks, stocks whose profits are most closely tied to the strength of the economy have been showing more life.

*ASX 200 expected to storm higher.*
It looks set to be a very good day of trade for the ASX 200. According to the latest SPI futures, the benchmark index is expected to open the day 51 points or 0.9% higher this morning. This follows a great night of trade on Wall Street which saw the Dow Jones rise 2.2%, the S&P 500 climb 1.5%, and the Nasdaq push 0.8% higher.










https://www.usnews.com/news/busines...ed-on-uncertainty-over-hong-kong-security-law

*Wall Street Closes Higher on Economic Revival Hopes*
Stock indexes closed broadly higher on Wall Street Wednesday, as hopes for a coming economic revival turn the market’s leaderboard upside down.
By Associated Press, Wire Service Content May 27, 2020, at 5:10 p.m.

By STAN CHOE and DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks closed higher on Wall Street Wednesday, extending the market's gains into a third day on hopes for a coming economic revival as larger swaths of the country relax stay-at-home mandates imposed due to the coronavirus pandemic and clear the way for more businesses to reopen.

Despite a choppy day of trading, the S&P 500 gained 1.5% and finished above the 3,000-point mark for the first time since early March. The Dow Jones Industrial Average crossed above 25,000 points, where it hasn't closed since March.

Financial, industrial and health care stocks accounted for a big slice of the gains. Department store chains, which took some of the market's worst losses earlier this year when worries about the recession were peaking, surged amid optimism that life can inch back toward normal.

“Today is a little bit of a follow-through from yesterday,” said Bill Northey, senior investment director at U.S. Bank Wealth Management. “This is optimism about the reopening of the U.S. economy and, really, the global economy.”

The S&P 500 index rose 44.36 points to 3,036.13. The index had been down 0.7% before bouncing back toward the end of the day. The Dow gained 553.16 points, or 2.2%, to 25,548.27. The Nasdaq composite also recovered from an early slide, adding 72.14 points, or 0.8%, to 9,412.36. Small company stocks, which have lagged the broader market this year, were big gainers. The Russell 2000 index rose 43.28 points, or 3.1%, to 1,436.36.

The movements followed up on strong gains in Europe, where authorities proposed a 750 billion euro ($825 billion) recovery fund to help carry the region through the recession caused by the response to the coronavirus pandemic. Asian stocks were mixed, as tensions between the United States and China over the independence of Hong Kong weighed on markets there.

The S&P 500 is back to where it was in early March, in the early days of its sell-off on worries about the coming steep recession. It’s now down only 10.3% from its high in February, recovering from a nearly 34% drop in March.

Massive amounts of stimulus for the economy from the Federal Reserve and Capitol Hill helped start the rally in late March. The gains have accelerated more recently on hopes that economic growth can return later this year as governments ease up on business-shutdown orders meant to slow the spread of the coronavirus. In recent weeks, stocks whose profits are most closely tied to the strength of the economy have been showing more life.

Hopes for potential COVID-19 vaccines under development have also helped propel stocks.

“There's still so much stimulus, and with consumers being in better shape, we will get through this sooner than most expect,” said Andrew Smith, chief investment strategist at Delos Capital Advisors.

Department store chains helped lead the way higher Wednesday on hopes that reopening economies will mean more people will be gearing up to shop at brick-and-mortar stores again. Gap was the biggest gainer in the S&P 500, vaulting 18.4%. Kohl's climbed 14.5% and Nordstrom jumped 16.8%.

Banks were also stronger on hopes that business reopenings could limit the wave of loan defaults that investors had been worrying about. Financial stocks in the S&P 500 rose 4.3% for the largest gain among the 11 sectors that make up the index. JPMorgan Chase rose 5.8%, Bank of America climbed 7% and Citigroup jumped 8.5%.

Some big technology companies that had been stalwarts during the market's sell-off took a step back Wednesday, which kept the market's gains in check in the early going. Microsoft bounced back from a loss to finish with a gain of 0.1%, but Amazon fell 0.5% and Nvidia dropped 2.2%. All three remain up at least 15% for the year so far.

Bond yields were mixed. The yield on the 10-year Treasury held steady at 0.69%.

U.S. crude oil for delivery in July fell $1.54 to settle at $32.81 per barrel. July Brent crude, the international standard, dropped $1.43 to $34.74 per barrel.

In Europe, Germany’s DAX returned 1.3% and France’s CAC 40 rose 1.8% after the announcement of the region’s recovery fund. The president of the European Commission called it “an ambitious answer,” though it still needs to be endorsed by every country in the European Union. About two-thirds of the fund would take the form of grants, while the rest would be loans.

In Asia, Japan’s Nikkei 225 rose 0.7%, but other markets were weaker. The Hang Seng in Hong Kong slipped 0.4%, and stocks in Shanghai lost 0.3%. U.S. officials have been critical of China’s response to the coronavirus outbreak, and the latest tensions between the two center on China’s control over Hong Kong.


----------



## bigdog

Wall Street’s rally ran out of fuel in the last hour of trading on Thursday, and the market fell to its first loss in four days amid worries about rising U.S.-China tensions.

The S&P 500 had been climbing for much of the day and was up as much as 1.1% at one point. But it all disappeared after President Donald Trump said he’ll hold a news conference about China on Friday. That raised immediate worries among investors about possibly worsening relations between the world’s largest economies, which had signed a deal earlier this year to at least pause their trade war.

“The concerns are that this escalates over the course of the summer,” said Quincy Krosby, chief market strategist at Prudential Financial. “It’s like lighting a match.”

The S&P 500 ended the day down 6.40, or 0.2%, at 3,029.73. The Dow Jones Industrial Average swung from a gain of 210 points to a loss of 147.63 by the close of trading, down 0.6% to 25,400.64. The Nasdaq composite fell 43.37, or 0.5%, to 9,368.99.

U.S. and Chinese officials have been trading harsh rhetoric recently on everything from Hong Kong to the response to the coronavirus outbreak. Investors are worried that it could lead to another punishing round of escalating tariffs between the two countries, which would only further damage a global economy punished by a severe recession due to the pandemic.

Energy producers and banks fell to some of Thursday's sharpest losses.

Twitter also lost 4.4%. Trump signed an executive order late Thursday to study whether new regulations can be put on social media companies. He has been railing against Twitter after it applied fact checks to two of his tweets.

*ASX 200 expected to drop lower.*
The ASX 200 looks set to end a fantastic week with a day in the red. According to the latest SPI futures, the benchmark index is expected to open the day 19 points or 0.3% lower this morning. This follows a weak night of trade on Wall Street which saw the Dow Jones fall 0.6%, the S&P 500 drop 0.2%, and the Nasdaq fall 0.45%.










https://www.usnews.com/news/busines...mixed-after-wall-street-rally-hong-kong-lower

*Wall Street's Rally Ends on Fears About US-China Tensions*
Wall Street’s rally ran out of fuel in the last hour of trading on Thursday, and the market fell to its first loss in four days amid worries about rising U.S.-China tensions.
By Associated Press, Wire Service Content May 28, 2020, at 4:51 p.m.

By STAN CHOE, ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Wall Street’s rally ran out of fuel in the last hour of trading on Thursday, and the market fell to its first loss in four days amid worries about rising U.S.-China tensions.

The S&P 500 had been climbing for much of the day and was up as much as 1.1% at one point. But it all disappeared after President Donald Trump said he’ll hold a news conference about China on Friday. That raised immediate worries among investors about possibly worsening relations between the world’s largest economies, which had signed a deal earlier this year to at least pause their trade war.

“The concerns are that this escalates over the course of the summer,” said Quincy Krosby, chief market strategist at Prudential Financial. “It’s like lighting a match.”

The S&P 500 ended the day down 6.40, or 0.2%, at 3,029.73. The Dow Jones Industrial Average swung from a gain of 210 points to a loss of 147.63 by the close of trading, down 0.6% to 25,400.64. The Nasdaq composite fell 43.37, or 0.5%, to 9,368.99.

U.S. and Chinese officials have been trading harsh rhetoric recently on everything from Hong Kong to the response to the coronavirus outbreak. Investors are worried that it could lead to another punishing round of escalating tariffs between the two countries, which would only further damage a global economy punished by a severe recession due to the pandemic.

Energy producers and banks fell to some of Thursday's sharpest losses.

Twitter also lost 4.4%. Trump signed an executive order late Thursday to study whether new regulations can be put on social media companies. He has been railing against Twitter after it applied fact checks to two of his tweets.

Earlier in the day, the S&P 500 seemed to be rolling toward its fourth straight gain, which would have been its longest winning streak since before the market began to sell off in February.

Gains for health care stocks helped the S&P 500 at one point climb back within 10% of its record high. Johnson & Johnson rose 1.4%, Pfizer gained 2.1% and Eli Lilly added 3.4%.

Dollar Tree jumped 11.6% for the largest gain in the S&P 500 after the retailer reported stronger revenue and earnings for its latest quarter than Wall Street expected. In an encouraging sign, executives also said recent trends have been improving for purchases of discretionary items, such as kitchenware and toys, instead of just essentials for hunkering down.

Even with Thursday’s loss, the S&P 500 is still on pace for its third weekly gain of at least 2.5% in the last four weeks. Following their breathtaking drop of nearly 34% in February and much of March, stocks began recovering after the Federal Reserve and Capitol Hill pledged unprecedented amounts of aid for the economy.

More recently, the market has pushed higher as investors move into stocks that would benefit most from a reopening economy. Governments around the country and around the world are slowly lifting restrictions meant to corral the outbreak, which has investors hoping the worst of the recession has already passed, or will soon.

Some analysts warn the rally has been overdone. The stock market has rebounded very quickly after hitting a bottom in late March, when the economy may take much longer to heal and recover. That could be setting investors up for disappointment in the future.

“I don’t know why investors are so confident,” said Mike Zigmont, head of trading and research at Harvest Volatility Management. “The damage has been so great that some businesses that otherwise would have survived, they will fail.”

Hotels, airlines and related industries are not going to get back to their 2019 levels anytime soon, he said. When tourists do return, it will not be in the same numbers.

“It’s unreasonable to expect us to regain jobs as fast as we lost them,” he said.

Longer-term Treasury yields rose Thursday after a government report showed that the number of workers filing for unemployment benefits dipped for the eighth straight week, though the number remains incredibly high.

Perhaps more importantly for the market, the number of continuing claims for unemployment fell to 21.1 million from 24.9 million. It’s the first decline since the number of layoffs exploded in March. If it continues, economists said it could be a sign that more people are going back to work as states begin their reopenings.

The yield on the 10-year Treasury rose to 0.70% from 0.67% late Wednesday. It tends to move with optimism about the economy’s strength and inflation.

European stock markets mostly rose, while Asian markets were mixed.

A barrel of U.S. crude oil for delivery in July rose 90 cents to settle at $33.71. Brent crude, the international standard, rose 55 cents to $35.29 per barrel.


----------



## ducati916

_WASHINGTON (AP) — Federal Reserve Chair Jerome Powell acknowledged Friday that the Fed faces a major challenge with the launch in the coming days of a program that will lend to companies other than banks for the first time since the Great Depression._

_The Fed's Main Street Lending is geared toward medium-sized companies that are too large for the government's small business lending program and too small to sell bonds or stock to the public. The individual loans, which could reach $600 billion, will technically be made by banks. But the Fed will buy 85% to 95% of each loan, thereby reducing the risk to banks and freeing them to do more lending._

_Powell said that Main Street will make its first loans in a “few days.” He has previously set June 1 as the target, or soon after._

_He noted that the complexity of the program goes far beyond the Fed's usual lending efforts, which typically involve buying bonds. The Main Street program will consist of unique loans to individual businesses._

_“It is far and away the biggest challenge of the 11 facilities we have set up,” Powell said._

_Speaking in an online question-and-answer session with Alan Blinder, a Princeton economist and former vice chairman of the Fed, Powell also said he worries that a second wave of the coronavirus, perhaps in the fall, would damage consumer confidence and weaken any economic recovery._

_For the economy to fully recover, Powell said, Americans must be confident that they can shop, eat at restaurants or visit public places without risking infection. For that reason, he said, tracking the spread of the virus is, if anything, more important than economic data in gauging any recovery._

_“A second wave would really undermine public confidence and might make for a significantly longer and weaker recovery,” the chairman said._

_Addressing the Main Street Lending program, Powell said its primary goal is to help preserve jobs or make it easier for workers to find new ones. Companies with up to 15,000 employees or $5 billion in revenue are eligible._

_“That's the point of this exercise,” he said._

_Yet unlike with the government’s small business lending program, borrowers from Main Street won’t be required to keep their employees. Instead, they will be required to make “commercially reasonable” efforts to hold onto their staffs. That has brought criticism from Sen. Elizabeth Warren, D-Mass., that Powell and Treasury Secretary Steven Mnuchin, who has backed the Main Street effort, haven't done enough to ensure that the program will in fact protect jobs._

_Powell said Friday that the Main Street loans are intended for companies that were healthy before the pandemic hit and that will likely remain viable. But many Fed watchers have argued that the program won't be very effective unless it is willing to make risky loans that might fail. The Treasury Department has provided $75 billion to offset losses._

_Mnuchin had initially indicated that the Treasury wanted all that money to be repaid, which could have forced the Fed to be too cautious. But earlier this month Mnuchin reversed himself and said the Treasury was willing to take losses on the Main Street loans._

_The Fed has reacted to the sharp downturn in the economy by slashing short-term interest rates to near zero and buying $2 trillion in Treasury securities and mortgage-backed bonds to keep credit markets functioning. It has also announced 11 separate lending programs that are intended to support borrowing by businesses, banks and households._

_Roughly 30 million Americans — about one in five workers — are receiving unemployment aid, a result of widespread business shutdowns and record drops in consumer spending. All states have begun phased re-openings of their economies, which has produced some modest bounce-back in consumer spending. Still, Powell has previously said the unemployment rate is likely to peak at between 20% and 25% in May or June._

_In his most recent public comments, Powell has underscored that the United States is gripped by an economic shock “without modern precedent” and that Congress must consider providing further financial aid soon to support states, localities, businesses and individuals to prevent an even deeper recession._

jog on
duc


----------



## bigdog

Stocks closed out a solid week on Wall Street Friday with a late-afternoon rebound after worries that President Donald Trump would reignite a costly trade war with China faded.

The benchmark S&P 500 index rose 0.5%, recovering from a 1% slide, after Trump outlined several actions in response to a move by China to exert more control over Hong Kong but steered clear of upending a trade pact struck with Beijing earlier this year. The S&P 500 ended the month 4.5% higher, its second monthly gain in a row.

The world’s two largest economies agreed to a Phase 1 trade deal in January after more than a year of talks and billions of dollars in tariffs imposed on each other’s imports. Worries that the Trump administration would pull out of the deal with the world’s second-largest economy weighed on the market for much of the day, until the president’s mid-afternoon statement.

“Much ado about nothing,” Sam Stovall, chief investment strategist at CFRA, said of the remarks. “The immediate concern, meaning the cessation of the Phase 1 (trade) accord, did not end up being put on the table, much to traders’ relief.”

Technology and health care stocks accounted for much of the market’s gains. That helped offset losses in banks, industrial companies and elsewhere. Bond yields fell and gold prices rose, signs that investors remain cautious. Oil recovered from an early slide.

All told, the S&P 500 rose 14.58 points to 3,044.31. The index ended the week with a 3% gain. The Dow Jones Industrial Average fell 17.53 points, or 0.1%, to 25,383.11. The Nasdaq composite, which is heavily weighted with technology stocks, gained 120.88 points, or 1.3%, to 9,489.87. The Russell 2000 index of small company stocks gave up 6.64 points, or 0.5%, to 1,394.04.

Stocks have now recouped most of their losses after the initial economic fallout from the coronavirus pandemic knocked the market into a breathtaking skid in February and March, though the S&P 500 is still down 10% from its all-time high in February.

On Thursday, China’s National People’s Congress approved a national security law aimed at suppressing secessionist and subversive activity in Hong Kong, overriding any potential opposition by local lawmakers.

In his remarks, Trump blasted China, saying Hong Kong is no longer “sufficiently autonomous” to warrant the preferred status that the U.S. had been giving the former British colony when it comes to export controls, extradition treaties and travel.

“Basically, he’s going to treat Hong Kong the way he treats China," Stovall said.

Trump also said the U.S. would cut ties with the World Health Organization, saying it had failed to adequately respond to the coronavirus because China has “total control” over the global organization.

The move by China to get a tighter grip on Hong Kong could undermine the city’s status as a major center for trade and finance. Hong Kong’s Hang Seng index finished 0.7% lower Friday.










https://www.usnews.com/news/busines...l-as-us-china-tensions-douse-rally-on-wall-st

*Stocks Erase a Loss as Worries Over China Tensions Fizzle*
The stock market erased an early drop and ended mixed, capping a strong week and month.
By Associated Press, Wire Service Content May 29, 2020, at 5:12 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Stocks closed out a solid week on Wall Street Friday with a late-afternoon rebound after worries that President Donald Trump would reignite a costly trade war with China faded.

The benchmark S&P 500 index rose 0.5%, recovering from a 1% slide, after Trump outlined several actions in response to a move by China to exert more control over Hong Kong but steered clear of upending a trade pact struck with Beijing earlier this year. The S&P 500 ended the month 4.5% higher, its second monthly gain in a row.

The world’s two largest economies agreed to a Phase 1 trade deal in January after more than a year of talks and billions of dollars in tariffs imposed on each other’s imports. Worries that the Trump administration would pull out of the deal with the world’s second-largest economy weighed on the market for much of the day, until the president’s mid-afternoon statement.

“Much ado about nothing,” Sam Stovall, chief investment strategist at CFRA, said of the remarks. “The immediate concern, meaning the cessation of the Phase 1 (trade) accord, did not end up being put on the table, much to traders’ relief.”

Technology and health care stocks accounted for much of the market’s gains. That helped offset losses in banks, industrial companies and elsewhere. Bond yields fell and gold prices rose, signs that investors remain cautious. Oil recovered from an early slide.

All told, the S&P 500 rose 14.58 points to 3,044.31. The index ended the week with a 3% gain. The Dow Jones Industrial Average fell 17.53 points, or 0.1%, to 25,383.11. The Nasdaq composite, which is heavily weighted with technology stocks, gained 120.88 points, or 1.3%, to 9,489.87. The Russell 2000 index of small company stocks gave up 6.64 points, or 0.5%, to 1,394.04.

Stocks have now recouped most of their losses after the initial economic fallout from the coronavirus pandemic knocked the market into a breathtaking skid in February and March, though the S&P 500 is still down 10% from its all-time high in February.

On Thursday, China’s National People’s Congress approved a national security law aimed at suppressing secessionist and subversive activity in Hong Kong, overriding any potential opposition by local lawmakers.

In his remarks, Trump blasted China, saying Hong Kong is no longer “sufficiently autonomous” to warrant the preferred status that the U.S. had been giving the former British colony when it comes to export controls, extradition treaties and travel.

“Basically, he’s going to treat Hong Kong the way he treats China," Stovall said.

Trump also said the U.S. would cut ties with the World Health Organization, saying it had failed to adequately respond to the coronavirus because China has “total control” over the global organization.

The move by China to get a tighter grip on Hong Kong could undermine the city’s status as a major center for trade and finance. Hong Kong’s Hang Seng index finished 0.7% lower Friday.

Washington and Beijing have been trading harsh rhetoric recently on everything from Hong Kong to the response to the coronavirus outbreak. That stoked worries that the renewed tensions could lead to another punishing round of escalating tariffs between the two countries, which would only further damage a global economy punished by a severe recession due to the pandemic.

The U.S. stock market plunged 34% from late February through late March but has rebounded quickly since then after the Federal Reserve and Congress pledged unprecedented amounts of aid for the economy. Recently, investors have favored stocks that would benefit the most from a reopening economy.

Governments around the country and around the world are slowly lifting restrictions meant to corral the outbreak. That has many investors hoping the worst of the recession has already passed, or will soon. However, concerns remain that the relaxing of stay-at-home mandates and the reopening of businesses could lead to another surge in infections, potentially extending how long it will take for the economy to recover.

“We’re in an incredibly fragile economy right now, and things are just getting back,” said J.J. Kinahan, chief market strategist at TD Ameritrade. “You need as much momentum as you can that encourages people to go out and spend money. Anything that upsets that fragile sort of enterprise has the opportunity to really set the stock market and the total economy off course.”

The yield on the 10-year Treasury, a benchmark for interest rates on many consumer loans including mortgages, fell to 0.65% from 0.70% late Thursday. Lower yields mean investors are cautious about the prospects for economic growth and healthy amounts of inflation.

Oil prices rose. Benchmark U.S. crude oil for July delivery rose $1.78 to settle at $35.49 a barrel. Brent crude oil for July delivery rose 4 cents to $35.33 a barrel.

Stock indexes in Europe closed broadly lower following a mixed finish in Asian markets.

630


----------



## bigdog

*ASX 200 to drop lower.*
The ASX 200 looks set to start the week in the red. According to the latest SPI futures, the benchmark index is poised to open the week 24 points or 0.45% lower. This is despite a reasonably positive end to the week on Wall Street. The Dow Jones traded roughly flat, the S&P 500 rose 0.5%, and the Nasdaq index climbed 1.3%


----------



## bigdog

Stocks shook off a wobbly start on Wall Street and closed broadly higher Monday, adding to the market’s recent run of solid gains.

The S&P 500 climbed 0.4% after wavering between small gains and losses in the early going. Banks, companies that depend on consumer spending and communications companies accounted for a big slice of the gains. Health care was the only sector to fall. Bond yields were mostly higher, another sign of optimism among traders. Oil prices fell.

Investors are balancing cautious optimism about the reopening of businesses shut down because of the coronavirus pandemic against worries that the civil unrest across the U.S. over police brutality and racism could disrupt the economic recovery and widen the outbreak.

The daily protests, which began last week in Minneapolis and have since turned violent in multiple cities, are not weighing on the stock market, at least so far.

“The market has been expecting a springtime for economic activity,” said Mike Zigmont, head of trading and research at Harvest Volatility Management. “If these events derail the animal spirits that the markets have been counting on across the country, then I think they will have an impact. But investors are dismissing it as a short-term, non-event.”

The S&P 500 rose 11.42 points to 3,055.73. The Dow Jones Industrial Average gained 91.91 points, or 0.4%, to 25,475.02. The Nasdaq composite climbed 62.18 points, or 0.7%, to 9,552.05. Smaller company stocks had some of the biggest gains. The Russell 2000 index picked up 11.34 points, or 0.8%, to 1,405.37.

*ASX 200 to push higher.*
The ASX 200 looks set to continue its positive form on Tuesday. According to the latest SPI futures, the benchmark index is poised to rise 11 points or 0.2% at the open. This follows a good start to the week on Wall Street. The Dow Jones rose 0.35%, the S&P 500 climbed 0.4%, and the Nasdaq index pushed 0.65% higher.










https://apnews.com/ec332d0d1588a7332ea05e1c476d51e4

*Stocks shake off weak start and close higher, extending run*
By ALEX VEIGA and DAMIAN J. TROISE

Stocks shook off a wobbly start on Wall Street and closed broadly higher Monday, adding to the market’s recent run of solid gains.

The S&P 500 climbed 0.4% after wavering between small gains and losses in the early going. Banks, companies that depend on consumer spending and communications companies accounted for a big slice of the gains. Health care was the only sector to fall. Bond yields were mostly higher, another sign of optimism among traders. Oil prices fell.

Investors are balancing cautious optimism about the reopening of businesses shut down because of the coronavirus pandemic against worries that the civil unrest across the U.S. over police brutality and racism could disrupt the economic recovery and widen the outbreak.

The daily protests, which began last week in Minneapolis and have since turned violent in multiple cities, are not weighing on the stock market, at least so far.

“The market has been expecting a springtime for economic activity,” said Mike Zigmont, head of trading and research at Harvest Volatility Management. “If these events derail the animal spirits that the markets have been counting on across the country, then I think they will have an impact. But investors are dismissing it as a short-term, non-event.”

The S&P 500 rose 11.42 points to 3,055.73. The Dow Jones Industrial Average gained 91.91 points, or 0.4%, to 25,475.02. The Nasdaq composite climbed 62.18 points, or 0.7%, to 9,552.05. Smaller company stocks had some of the biggest gains. The Russell 2000 index picked up 11.34 points, or 0.8%, to 1,405.37.

The stock market is coming off its second month of solid gains. Stocks have now recouped most of their losses after the initial economic fallout from the coronavirus knocked the market into a breathtaking 34% skid in February and March. The S&P 500 is now down just under 10% from its all-time high in February.

The Federal Reserve and Congress have pledged unprecedented amounts of aid for the economy. That helped spur the market’s move higher from its March lows. Now investors are betting that the worst of the recession has already passed, or will soon, as governments around the country and around the world slowly lift restrictions meant to corral the outbreak.

“I think we are through the worst of it for sure, and the markets reflect that in the bounce we’ve seen,” said David Trainer, CEO of investment research firm New Constructs.

The yield on the 10-year Treasury rose to 0.66% from 0.64% late Friday.

Oil prices ended lower. Benchmark U.S. crude oil for July delivery fell 5 cents to settle at $35.44 a barrel Monday. Brent crude oil for August delivery rose 48 cents to $38.32 a barrel.

European indexes closed broadly higher. Asian markets also finished higher, including a gain of more than 3% for Hong Kong’s stock market


----------



## bigdog

Stocks closed broadly higher on Wall Street Tuesday, extending the market's winning streak to a third day.

The latest gains, which followed a rally in global stocks, were driven by optimism that the global economy will begin to recover as governments gradually allow businesses that were closed due to the coronavirus outbreak to reopen.

The S&P 500 closed 0.8% higher after spending much of the morning wavering. Technology, industrial and health care sector stocks accounted for a big slice of the gains. Energy stocks far outpaced the rest of the market as the price of crude oil rose again. Bond yields rose, another sign of ebbing pessimism among investors.

So far, Wall Street’s momentum has not been derailed by the wave of daily unrest across the U.S. that began last week in Minneapolis as a protest over police brutality. Cities across the country have been rocked by violence and destruction for seven days in a row, drawing threats from the White House to send troops in to put down the unrest.

“The market action seems to have a lot more to do with people’s confidence about the economic reopening,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management. “It’s happening irrespective to what we’re seeing socially across the country right now.”

The S&P 500 gained 25.09 points to 3,080.82. The Dow Jones Industrial Average rose 267.63 points, or 1.1%, to 25,742.65. The Nasdaq composite, which is heavily weighted with technology companies, added 56.33 points, or 0.6%, to 9,608.37. The index had been down 0.8% in the early going.

Smaller company stocks had some of the biggest gains. The Russell 2000 index picked up 12.84 points, or 0.9%, to 1,418.21.

*ASX 200 expected to rise.*
It looks set to be another positive day of trade for the ASX 200 on Wednesday. According to the latest SPI futures, the benchmark index is poised to rise 32 points or 0.55% at the open. This follows another strong night of trade on Wall Street. The Dow Jones rose 1.05%, the S&P 500 climbed 0.8%, and the Nasdaq index pushed 0.6% higher.










https://www.usnews.com/news/busines...ain-on-hopes-for-regional-economies-reopening

*Stocks Extend Gains on Wall Street to a 3rd Straight Day*
Stocks are closing higher on Wall Street for the third day in a row, continuing a stretch of gains for the market.
By Associated Press, Wire Service Content June 2, 2020, at 5:31 p.m.

By ALEX VEIGA, AP Business Writer

Stocks closed broadly higher on Wall Street Tuesday, extending the market's winning streak to a third day.

The latest gains, which followed a rally in global stocks, were driven by optimism that the global economy will begin to recover as governments gradually allow businesses that were closed due to the coronavirus outbreak to reopen.

The S&P 500 closed 0.8% higher after spending much of the morning wavering. Technology, industrial and health care sector stocks accounted for a big slice of the gains. Energy stocks far outpaced the rest of the market as the price of crude oil rose again. Bond yields rose, another sign of ebbing pessimism among investors.

So far, Wall Street’s momentum has not been derailed by the wave of daily unrest across the U.S. that began last week in Minneapolis as a protest over police brutality. Cities across the country have been rocked by violence and destruction for seven days in a row, drawing threats from the White House to send troops in to put down the unrest.

“The market action seems to have a lot more to do with people’s confidence about the economic reopening,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management. “It’s happening irrespective to what we’re seeing socially across the country right now.”

The S&P 500 gained 25.09 points to 3,080.82. The Dow Jones Industrial Average rose 267.63 points, or 1.1%, to 25,742.65. The Nasdaq composite, which is heavily weighted with technology companies, added 56.33 points, or 0.6%, to 9,608.37. The index had been down 0.8% in the early going.

Smaller company stocks had some of the biggest gains. The Russell 2000 index picked up 12.84 points, or 0.9%, to 1,418.21.

NASA astronauts launched into space by SpaceX on Saturday rang the opening bell from the International Space Station early Tuesday to kick off trading on the Nasdaq.

Stocks have now recouped most of their losses after the initial economic fallout from the coronavirus knocked the market into a staggering 34% skid in February and March. The S&P 500 is now down 9% from its all-time high in February.

Investors are hoping that the worst of the recession has already passed, or will soon, as governments around the country and around the world slowly lift the restrictions that left broad swaths of the U.S. economy at a standstill beginning in March.

In Europe, France’s CAC 40 jumped 2% Tuesday as the country opened restaurants, cafes, parks and beaches and launched a contract tracing app to help keep tabs on new contagions. Germany’s DAX, which had been closed Monday, caught up with previous global markets’ gains and surged 3.7%. Britain’s FTSE 100 added 0.9%. Markets in Asia closed broadly higher.

While more countries and sectors are reopening, economic activity is expected to remain subdued as social distancing rules complicate plans to get back to business. Meanwhile, investors continue to keep an eye out for any signs that the reopening of the economy is leading to a resurgence in COVID-19 cases. Tokyo had 34 new confirmed cases Tuesday. The daily numbers had dropped below 20 recently.

Even so, Wall Street is betting that the U.S. government and others will not move to close the economy again even if there is a pickup in new cases.

“There’s just a lack of appetite for a potential re-shutdown in the event that the virus accelerates from here,” Hainlin said.

Bond yields were mostly higher. The yield on the 10-year Treasury rose to 0.68% from 0.66% late Monday.

Oil prices rose. Benchmark U.S. crude oil for July delivery rose $1.37 to settle at $36.81 a barrel Tuesday. Brent crude oil for August delivery rose $1.25 to $39.57 a barrel.

The balance of this week will provide new data on the labor market, which has racked up huge increases in Americans who’ve lost their job as the coronavirus shutdowns left millions out of work.

Payroll processor ADP issues its May survey of hiring by private U.S. companies Wednesday. The next day, the government releases its weekly tally of applications for unemployment aid. And on Friday, the government reports its May labor market data. Analysts surveyed by FactSet expect the report will show the economy lost 9 million jobs last month and that the national unemployment rate jumped to nearly 20%.

Investors will also have their eye on a couple of companies set to go public this week. Music company Warner Music Group is set to hold its IPO on Wednesday, while business information services company ZoomInfo Technologies is scheduled to go public Thursday.


----------



## bigdog

Stocks bubbled even higher on Wednesday, vaulting Wall Street back to where it was just one week after it set its all-time high earlier this year, as optimism builds that the economy can climb out of its current hole relatively quickly.

The S&P 500 rose 1.4% for its fourth straight gain as lockdowns loosen around the world and raise hopes for a coming economic recovery. Treasury yields also strengthened in a sign of improved confidence after reports suggested that while the U.S. economy is still getting pummeled, it may not be as bad as economists had feared.

“It’s fairly clear to us that the economy clearly bottomed in late April and early May,” said James Ragan, director of wealth management research at D.A. Davidson. “At some point the concern will be on the pace of the recovery and not just the recovery itself.”

The S&P 500 rose 42.05 points to 3,122.87, the latest upward move in its nearly 40% surge since late March. The index is back above where it was on Feb. 26, one week after setting its record.

The Dow Jones Industrial Average gained 527.24 points, or 2%, to 26,269.89, and the Nasdaq composite rose 74.54, or 0.8%, to 9.682.91.

Stocks have been climbing since late March, at first on relief after the Federal Reserve and Congress promised massive amounts of aid for the economy. More recently, the driving force has been optimism that growth can resume as states across the country and nations around the world lift restrictions on businesses intended to slow the spread of the outbreak.

The S&P 500 has climbed back within 7.8% of its record.

*ASX 200 expected to race higher.*
The ASX 200 looks set to race higher again on Thursday. According to the latest SPI futures, the benchmark index is poised to jump 72 points or 1.2% at the open. This follows a very positive night of trade on Wall Street, which saw the Dow Jones jump 2.05%, the S&P 500 rise 1.35%, and the Nasdaq index climb 0.8%.

*6,000 points in sight.*
With ASX 200 futures pointing to a strong rise at the open, the index looks set to smash through the symbolic 6,000 points market today. It has been almost three months since the benchmark index traded at this level. Investors will be hoping it is onwards and upwards from here.










https://www.usnews.com/news/busines...ise-as-wall-street-gains-for-3rd-straight-day

*Wall Street's Rally Rolls On; S&P 500 Back Within 8% of High*
Stocks rallied again on Wall Street Wednesday, and the S&P 500 climbed back to where it was just one week after it set its all-time high earlier this year.
By Associated Press, Wire Service Content June 3, 2020, at 4:42 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

Stocks bubbled even higher on Wednesday, vaulting Wall Street back to where it was just one week after it set its all-time high earlier this year, as optimism builds that the economy can climb out of its current hole relatively quickly.

The S&P 500 rose 1.4% for its fourth straight gain as lockdowns loosen around the world and raise hopes for a coming economic recovery. Treasury yields also strengthened in a sign of improved confidence after reports suggested that while the U.S. economy is still getting pummeled, it may not be as bad as economists had feared.

“It’s fairly clear to us that the economy clearly bottomed in late April and early May,” said James Ragan, director of wealth management research at D.A. Davidson. “At some point the concern will be on the pace of the recovery and not just the recovery itself.”

The S&P 500 rose 42.05 points to 3,122.87, the latest upward move in its nearly 40% surge since late March. The index is back above where it was on Feb. 26, one week after setting its record.

The Dow Jones Industrial Average gained 527.24 points, or 2%, to 26,269.89, and the Nasdaq composite rose 74.54, or 0.8%, to 9.682.91.

A survey from payroll processor ADP said that private employers cut nearly 2.8 million jobs last month, but that was much milder than the 9.3 million that economists told investors to expect. That raises optimism that Friday’s more comprehensive jobs report from the U.S. government may also not be as bad as feared. Economists say it may show a loss of 8 million jobs, which would be a deceleration from April’s loss of 20.5 million jobs.

Other reports showed an economy that remains in bad shape, but not quite as terrible as economists had forecast. One report said the nation’s services industries contracted by less than economists expected, and at a more modest rate than in April. Another report said factory orders dropped 13% in April, but not by as much as the 14.8% that economists had forecast.

Companies that would most benefit from a growing economy led the market Wednesday, continuing a recent trend as hopes rise that the economy and life in general can return closer to normal as business-shutdown orders lift.

Financial stocks in the S&P 500 jumped 3.8% for one of the largest gains among the 11 sectors that make up the index. JPMorgan Chase rose 5.4%, and Wells Fargo added 5.2%. They recovered more of the losses sustained earlier this year on worries that the recession would mean waves of loan defaults for them.

Smaller stocks were also among the market’s biggest winners, as they often are when expectations are rising for the economy’s strength. The Russell 2000 index of small-cap stocks rose 2.4%.

Stocks that had been stalwarts earlier when investors were building portfolios that could win in a stay-at-home economy, meanwhile, were lagging. Netflix fell 1.2%.

In other trading, chicken company Pilgrim’s Pride lost 12.4% after its CEO was among several industry executives charged with price fixing by a federal grand jury, and movie theater operator AMC Entertainment fell 2.5% after saying it may not survive the coronavirus pandemic, which has shuttered its theaters.

The four straight gains for the overall S&P 500 mark its longest winning streak since early February, before the market sold off by nearly 34% on worries that the coronavirus outbreak will send the economy into its sharpest recession in decades.

Stocks have been climbing since late March, at first on relief after the Federal Reserve and Congress promised massive amounts of aid for the economy. More recently, the driving force has been optimism that growth can resume as states across the country and nations around the world lift restrictions on businesses intended to slow the spread of the outbreak.

The S&P 500 has climbed back within 7.8% of its record.

Widespread protests around the country following the killing of George Floyd haven’t dented the rally, at least so far. One worry is that by bringing so many people together, the protests could also lead to more infections of the coronavirus.

Many professional investors have been warning that the stock market’s rally may have been too much, too soon. The recovery for the economy is likely to be much slower than the sharp rebound the stock market has just undertaken, which could be setting investors up for disappointment.

Concern is particularly high that stock prices have climbed much faster than expectations for coming corporate profits and other measures of financial health, which is pushing up what Wall Street calls “valuations” for stocks.

Even though early data suggests people want to get back to restaurants and shops, the recovery may be slower than expected, said Megan Horneman, director of portfolio strategy at Verdence Capitol Advisors.

“This is a combination of some better economic indicators with the amount of money that the Fed has pumped into the economy,” she said of the market’s rally. “However, when you’re dealing with heightened valuations, it is dangerous to chase some of that momentum.”

The yield on the 10-year Treasury rose to 0.75% from 0.68% late Tuesday. European and Asian stock markets also rose.


----------



## bigdog

Wall Street paused on Thursday, and the S&P 500 fell for the first time in five days as stocks that had held steadiest through this year’s feverish swings gave back some of their gains.

The S&P 500 lost 10.52 points, or 0.3%, to 3,112.35 after being on track earlier in the day for its longest winning streak since December. The Dow Jones Industrial Average rose 11.93 points, or less than 0.1%, to 26,281.82, and the Nasdaq composite fell 67.10, or 0.7%, to 9,615.81.

A report showed that the number of U.S. workers filing for unemployment benefits eased for a ninth straight week, roughly in line with the market’s expectations. But economists saw pockets of disappointment after the total number of people getting benefits rose slightly. That number had dropped the prior week, which had raised hopes that some companies were rehiring workers.

Many professional investors have been arguing that the stock market’s rally, which had reached nearly 40% since late March, was overdone and that a pullback was likely coming. Stocks began surging following massive aid for the economy from Washington. More recently, they’ve climbed on optimism that the recession created by the reaction to the coronavirus outbreak could end relatively quickly as states and countries lift lockdown restrictions.

Critics point to how the gains for stocks seem to assume a quicker recovery for the economy than some economists expect, along with the risks of rising U.S.-China tensions and the possibility of second waves of coronavirus infections.

The next big piece of economic data to bolster or weaken the market’s optimism about the economy’s prospects lands early Friday, when the Labor Department releases its monthly jobs report for May. Economists expect it to show employers slashed 8.5 million jobs last month, down from 20.5 million in April, and that the unemployment rate jumped to 19.8% from 14.7%.

*ASX 200 expected to drop.*
It looks set to be a subdued end to the week for the ASX 200 index. According to the latest SPI futures, the benchmark index is poised to fall 13 points or 0.2% at the open. This follows a mixed night of trade on Wall Street, which saw the Dow Jones rise 0.05%, the S&P 500 fall 0.35%, and the Nasdaq index drop 0.7%.










https://apnews.com/d702148b79ea836363f2e7cd2555d7b8

*Wall Street pauses, and S&P 500′s 4-day winning streak snaps*
By STAN CHOE and DAMIAN J. TROISE

Wall Street paused on Thursday, and the S&P 500 fell for the first time in five days as stocks that had held steadiest through this year’s feverish swings gave back some of their gains.

The S&P 500 lost 10.52 points, or 0.3%, to 3,112.35 after being on track earlier in the day for its longest winning streak since December. The Dow Jones Industrial Average rose 11.93 points, or less than 0.1%, to 26,281.82, and the Nasdaq composite fell 67.10, or 0.7%, to 9,615.81.

A report showed that the number of U.S. workers filing for unemployment benefits eased for a ninth straight week, roughly in line with the market’s expectations. But economists saw pockets of disappointment after the total number of people getting benefits rose slightly. That number had dropped the prior week, which had raised hopes that some companies were rehiring workers.

Many professional investors have been arguing that the stock market’s rally, which had reached nearly 40% since late March, was overdone and that a pullback was likely coming. Stocks began surging following massive aid for the economy from Washington. More recently, they’ve climbed on optimism that the recession created by the reaction to the coronavirus outbreak could end relatively quickly as states and countries lift lockdown restrictions.

Critics point to how the gains for stocks seem to assume a quicker recovery for the economy than some economists expect, along with the risks of rising U.S.-China tensions and the possibility of second waves of coronavirus infections.

The next big piece of economic data to bolster or weaken the market’s optimism about the economy’s prospects lands early Friday, when the Labor Department releases its monthly jobs report for May. Economists expect it to show employers slashed 8.5 million jobs last month, down from 20.5 million in April, and that the unemployment rate jumped to 19.8% from 14.7%.

“The May unemployment rate will likely be the worst one, and it will get better from there,” said Randy Frederick, vice president of trading and derivatives at Schwab Center for Financial Research. “The market should have it baked in for the most part.”

Continuing a recent trend, investors on Thursday were cycling out of stocks that had held up the best when the hunt was for companies that can win in a weak, stay-at-home economy. Instead, investors moved into some areas of the market whose fortunes would benefit most from a healthier economy.

Losses for technology stocks and health care companies were some of the heaviest weights on the market. Microsoft slipped 1.3%, Johnson & Johnson fell 1.3% and UnitedHealth Group lost 2.4%.

Other falling stay-at-home winners included Netflix, down 1.8%, and Clorox, down 0.8%.

On the winning end were airlines. American Airlines surged 41.1% for the biggest gain in the S&P 500 after it said it plans to fly 55% of its normal U.S. schedule next month. That’s up from only 20% in April, as demand for travel inches back toward normal amid the pandemic.

Banks and industrial stocks were also strong amid hopes that a resumption in growth for the economy will limit loan losses and allow for better sales orders.

Charles Schwab rose 5.5% after it said antitrust regulators won’t block its acquisition of TD Ameritrade. The companies expect the deal to close in the second half of this year.

The S&P 500 is now within 8.1% of its record set in February after earlier being down nearly 34%.

Longer-term Treasury yields rose decisively. That area of the market had been one of the first to warn of the coming economic devastation from the coronavirus outbreak, and it’s been much more circumspect in recent weeks than the U.S. stock market.

The yield on the 10-year Treasury rose to 0.81% from 0.76% late Wednesday. It tends to move with investors’ expectations for inflation and the economy’s strength.

European stocks were weaker after the European Central Bank said it expects the region’s economy to shrink 8.7% this year due to the pandemic. It also announced it was nearly doubling its rescue program to help the economy.

The French CAC 40 was down 0.2%, Germany’s DAX lost 0.5% and the FTSE 100 in London dropped 0.6%.

Asian stocks were stronger. Japan’s Nikkei 225 rose 0.4%, South Korea’s Kospi added 0.2% and the Hang Seng in Hong Kong picked up 0.2%.

A barrel of U.S. crude oil for delivery in July rose 12 cents to settle at $37.41. Brent crude, the international standard, rose 20 cents to settle at $39.99 per barrel.


----------



## bigdog

For weeks, critics said Wall Street’s big rally made no sense when the economy seemed set for only more despair. On Friday, it got a bit of validation.

The S&P 500 jumped another 2.6% after a report said the U.S. job market surprisingly strengthened last month, bolstering hopes that the worst of the recession may have already passed. Employers added 2.5 million workers to their payrolls, when economists were expecting them instead to slash another 8 million jobs.

While economists cautioned that it’s just one month of data and that many risks still loom on the long road to a full recovery, the report gives some credence to the optimism that’s been building among stock investors that the economy can climb out of its current hole faster than forecast. That hope has been a big reason for the S&P 500’s rally of more than 40% since late March.

The S&P 500 is now down just 5.7% from its record set in February after being down nearly 34% earlier this year when recession worries were peaking.

“It looks like the healing process is underway in the jobs market and it looks like it’s happening sooner than expected,” said Todd Lowenstein, equity strategy executive of The Private Bank at Union Bank. “It looks like the worst is behind us.”

The S&P 500 rose 81.58 points to 3,193.93 for its eighth gain in the last 10 days. The Dow Jones Industrial Average gained 829.16, or 3.2%, to 27,110.98, and the Nasdaq composite rose 198.27, or 2.1%, to 9,814.08.

The yield on the 10-year Treasury rose to 0.88% from 0.82% late Thursday. This area of the market was much earlier than stocks to give warning about the coming economic devastation from the coronavirus outbreak. It had also been showing much more caution than stocks recently.

Now, the 10-year yield is close to its highest level since March, according to Tradeweb. It tends to move with investors’ expectations for the economy’s strength and inflation.

Stocks began their massive rally in late March after the Federal Reserve came to the rescue with promises of immense aid to keep markets running smoothly. Capitol Hill also agreed on unprecedented amounts of support for the economy. The actions helped convince investors that the worst-case scenario of a full-blown financial crisis was not likely.










https://www.usnews.com/news/busines...higher-after-jobless-data-snaps-wall-st-rally

*Wall Street's Rally Zooms Higher After Surprise Gain in Jobs*
The S&P 500 jumped another 2.6% Friday after a report said the U.S. job market surprisingly strengthened last month, bolstering hopes that the worst of the recession may have already passed.
By Associated Press, Wire Service Content June 5, 2020, at 4:53 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

For weeks, critics said Wall Street’s big rally made no sense when the economy seemed set for only more despair. On Friday, it got a bit of validation.

The S&P 500 jumped another 2.6% after a report said the U.S. job market surprisingly strengthened last month, bolstering hopes that the worst of the recession may have already passed. Employers added 2.5 million workers to their payrolls, when economists were expecting them instead to slash another 8 million jobs.

While economists cautioned that it’s just one month of data and that many risks still loom on the long road to a full recovery, the report gives some credence to the optimism that’s been building among stock investors that the economy can climb out of its current hole faster than forecast. That hope has been a big reason for the S&P 500’s rally of more than 40% since late March.

The S&P 500 is now down just 5.7% from its record set in February after being down nearly 34% earlier this year when recession worries were peaking.

“It looks like the healing process is underway in the jobs market and it looks like it’s happening sooner than expected,” said Todd Lowenstein, equity strategy executive of The Private Bank at Union Bank. “It looks like the worst is behind us.”

The S&P 500 rose 81.58 points to 3,193.93 for its eighth gain in the last 10 days. The Dow Jones Industrial Average gained 829.16, or 3.2%, to 27,110.98, and the Nasdaq composite rose 198.27, or 2.1%, to 9,814.08.

The yield on the 10-year Treasury rose to 0.88% from 0.82% late Thursday. This area of the market was much earlier than stocks to give warning about the coming economic devastation from the coronavirus outbreak. It had also been showing much more caution than stocks recently.

Now, the 10-year yield is close to its highest level since March, according to Tradeweb. It tends to move with investors’ expectations for the economy’s strength and inflation.

Stocks began their massive rally in late March after the Federal Reserve came to the rescue with promises of immense aid to keep markets running smoothly. Capitol Hill also agreed on unprecedented amounts of support for the economy. The actions helped convince investors that the worst-case scenario of a full-blown financial crisis was not likely.

More recently, it’s been hopes that economic growth can resume that have driven the market, as states across the country and nations around the world relax lockdown restrictions meant to slow the spread of the virus. Even as horrific and historic data continued to come in on the job market and economy, stocks largely remained resilient in their climb.

If the optimism proves to be right, it wouldn’t be the first time. During past recessions, stocks have historically hit their bottom and turned upward months before the economy has. That’s because investors are setting stock prices now for where they see corporate profits heading months into the future.

After the financial crisis, stocks hit their bottom in March 2009, for example. That was three months before the recession ended, according to the National Bureau of Economic Research. It was also seven months before the unemployment rate set a peak.

Analysts and economists warn, though, that a full recovery is still a long way away. The unemployment rate is still above 13%, nearly quadruple where it was at the start of the year, and on par with where it was during the the Great Depression.

Economists warn that after an initial burst of hiring as businesses reopen, the recovery could slow in the fall or early next year unless most Americans are confident they can shop, travel, eat out and fully return to their other spending habits without fear of contracting the virus.

The biggest threat to the market is a possible second wave of coronavirus infections, which could derail all the improvement and push governments to tighten up on lockdown orders. Increasing tensions between the United States and China are also raising worries about a resumption in the trade war between the world’s two largest economies. Some investors are also worried about volatility that could be created by this fall’s U.S. elections.

Nevertheless, investors on Friday continued their recent trend of focusing more on companies that would benefit most from a growing economy, rather than those that had been earlier winners in the weak, stay-at-home economy.

Smaller stocks had the market’s biggest gains, as they often do when expectations for the economy are rising. The Russell 2000 of small-cap stocks jumped 3.8%.

Among the biggest stocks, energy producers, banks and industrial companies had the biggest gains. Their profits tend to be very closely tied to the strength of the economy.

Travel-related companies were also strong, after their stocks got pummeled early in the outbreak on worries that no one would want to fly or go onto a cruise ship for a long time. Security officers screened 391,882 people at U.S. airports on Thursday, the most since March 22. Year-over-year declines have moderated to 85% from 96% in mid-April.

American Airlines jumped 11.2%, tacking even more gains onto its 41.1% surge a day before when it said it would fly more of its regular U.S. schedule in a bet that fliers will return to the skies.

Norwegian Cruise Line rose 14.5%, and United Airlines added 8.5%.

Retailers and owners of shopping malls rose on hopes that people may also head back to enclosed stores. Kohl’s climbed 11.5%, and Simon Property Group rose 15.5%.

Some of the stocks that had been the steadiest earlier this year when investors were searching for stay-at-home winners, meanwhile, were lagging the market.

Slack Technologies slid 14.2% even though it reported better results for the latest quarter than Wall Street expected.

European and Asian stock markets also rose.

Benchmark U.S. crude oil for July delivery rose $2.14 to settle at $39.55 a barrel Friday. Brent crude oil for August delivery rose $2.31 to $42.30 a barrel.

8958


----------



## bigdog

Wall Street’s enthusiasm about the reopening economy sent stocks scrambling even higher on Monday, and the Nasdaq composite wiped away the last of its coronavirus-induced losses to set a record.

The broader S&P 500 is now up slightly for the year and back within 4.5% of its own record as optimism strengthens that the worst of the recession may have already passed. Stocks that would benefit most from an economy that’s growing again rose the most, including smaller companies, airlines and oil producers.

The S&P 500 rallied 38.46 points, or 1.2%, to 3,232.39 and is at its highest level since February, which a panel of economists said on Monday is the month when the recession officially began. That’s when employment set a peak before tumbling after businesses shut down across the country to slow the outbreak.

The Dow Jones Industrial Average rose 461.46, or 1.7%, to 27,572.44. The Nasdaq composite, which is more heavily weighted to the big technology stocks that held up the best earlier this year, gained 110.66, or 1.1%, to 9,924.74.

Stocks have been rising since late March, at first on relief after the Federal Reserve and Capitol Hill pledged to support the economy and more recently on hopes that the recovery may happen more quickly than forecast.

Those hopes got a huge boost Friday when the U.S. government said that employers added 2.5 million jobs to their payrolls last month. Economists were expecting to see 8 million more lost.

States across the country are slowly relaxing restrictions on businesses meant to slow the spread of the coronavirus outbreak, which is raising expectations that the economy can pull out of its coma. New York City, which has been the country’s hardest-hit, began allowing retailers and some other businesses to reopen on Monday with some restrictions.

*ASX trading was closed yesterday for Queens Birthday Holiday*

*ASX 200 to surge higher.*
The ASX 200 looks set to start the week with a very strong gain after U.S. markets charged notably higher on Friday and Monday night. According to the latest SPI futures, the benchmark index is expected to open the week 147 points or 2.45% higher this morning. Overnight on Wall Street the Dow Jones jumped 1.7%, the S&P 500 stormed 1.2% higher, and the Nasdaq index rose 1.1%. The Dow Jones is up 4.9% over the last two trading days after stronger than expected U.S. jobs data.











https://www.usnews.com/news/busines...-advance-on-wall-st-jobs-rally-opec-plus-deal

*Stocks Vault Higher, as Nasdaq Hits Record on Economy Hopes*
Stocks scrambled even higher Monday on Wall Street's enthusiasm about the reopening economy, and the Nasdaq composite set a record.
By Associated Press, Wire Service Content June 8, 2020, at 5:53 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — Wall Street’s enthusiasm about the reopening economy sent stocks scrambling even higher on Monday, and the Nasdaq composite wiped away the last of its coronavirus-induced losses to set a record.

The broader S&P 500 is now up slightly for the year and back within 4.5% of its own record as optimism strengthens that the worst of the recession may have already passed. Stocks that would benefit most from an economy that’s growing again rose the most, including smaller companies, airlines and oil producers.

The S&P 500 rallied 38.46 points, or 1.2%, to 3,232.39 and is at its highest level since February, which a panel of economists said on Monday is the month when the recession officially began. That’s when employment set a peak before tumbling after businesses shut down across the country to slow the outbreak.

The Dow Jones Industrial Average rose 461.46, or 1.7%, to 27,572.44. The Nasdaq composite, which is more heavily weighted to the big technology stocks that held up the best earlier this year, gained 110.66, or 1.1%, to 9,924.74.

Stocks have been rising since late March, at first on relief after the Federal Reserve and Capitol Hill pledged to support the economy and more recently on hopes that the recovery may happen more quickly than forecast.

Those hopes got a huge boost Friday when the U.S. government said that employers added 2.5 million jobs to their payrolls last month. Economists were expecting to see 8 million more lost.

States across the country are slowly relaxing restrictions on businesses meant to slow the spread of the coronavirus outbreak, which is raising expectations that the economy can pull out of its coma. New York City, which has been the country’s hardest-hit, began allowing retailers and some other businesses to reopen on Monday with some restrictions.

That puts more scrutiny on economic reports this week as investors look for confirmation that Friday’s jobs report was a true inflection point and not just an aberration.

Even if the economy did hit its bottom a month or two ago, economists warn that many risks are still looming over a very long road back to full recovery. Critics are also still saying the stock market may have risen too quickly and may be setting investors up for disappointment, with the biggest risk being another wave of infections that leads to more lockdowns.

“It all starts with the virus itself, and there haven’t been any immediate rise in infections,” said Tom Martin, senior portfolio manager at Globalt Investments. He’s still far from giving the all-clear.

“There’s a lot of risk that businesses and the economy don’t recover as fast,” he said. “When money starts running out in July, are we enough on a path to getting people employed and businesses open?”

Among this week’s economic highlights are reports on inflation and the number of workers applying for jobless benefits. The headliner, though, is likely the Federal Reserve’s meeting on interest rates in the middle of the week.

The Fed has already promised unprecedented amounts of support to keep markets running smoothly, but will the recent upturn in job growth mean it will pull back at all?

Treasury yields have been climbing in recent days, reflecting rising expectations in the market for the economy and inflation. The 10-year Treasury yield dipped to 0.87% from 0.90% late Friday, but it’s up sharply from 0.66% a week earlier.

Too quick a rise in yields could slow spending and the anticipated economic recovery, though. It can also be a heavy weight on the stock market.

Stocks that would benefit most from a growing economy, meanwhile, led the market on Monday to continue their recent trend.

Energy producers, banks and industrial companies were rising more than the rest of the market, and nearly 80% of the stocks in the S&P 500 were higher.

Travel-related stocks were notable standouts as investors raised expectations for a reopening economy. Norwegian Cruise Line, Carnival, Alaska Air Group and United Airlines all rose more than 14%.

Smaller company stocks also climbed more than the rest of the market, which often happens when expectations for the economy are rising. The Russell 2000 index of small-cap stocks rose 2%.

But several titans were lagging behind the rest of the market, a turnaround from earlier this year when investors piled into the few companies that could hold up in a weak, stay-at-home economy. Facebook rose a modest 0.3%, while Microsoft was up 0.6% and Netflix was virtually flat.

In global markets, Japan’s Nikkei 225 index jumped 1.4% after the government reported the economy contracted at a 2.2% annual rate in the January-March quarter, not as bad as initially estimated.

Indexes in other countries were more subdued, with European markets down modestly.

Oil fell, even after major oil producing nations agreed over the weekend to extend a cut to production through the end of July to counter the blow to demand from the coronavirus pandemic.

Oil had already climbed last week on anticipation of the move, and OPEC officials did not commit to extending the cuts past July or establishing a way to enforce the production limits.

Benchmark U.S. crude oil for July delivery fell $1.36 to settle at $38.19 a barrel Monday. Brent crude oil for August delivery fell $1.50 to $40.80 a barrel.


----------



## bigdog

Wall Street hit the brakes Tuesday, a day after its remarkable, weekslong rally brought the S&P 500 back to positive for the year and the Nasdaq to a record high.

The benchmark index fell 0.8%, its largest loss in almost three weeks, as traders cashed in on some of the market’s recent gains. Financial, industrial and health care stocks led the slide. Technology companies were among the gainers, helping to push the Nasdaq to another all-time high.

Skeptics have been saying for weeks that Wall Street’s huge rally, which reached 44.5% between late March and Monday, may have been overdone. The economy has given glimmers of hope that the recession could end relatively quickly as governments lift their lockdown orders, but the strength and speed of the stock market’s rebound has easily outpaced expectations for a recovery in the broader economy and corporate profits.

“Today is actually a pretty mild digestion of recent gains, and I think it’s long overdue,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 lost 25.21 points to 3,207.18. The index is now back in the red for the year and remains 5.3% below its all-time high set in February. The Dow Jones Industrial Average dropped 300.14 points, or 1.1%, to 27,272.30. The Nasdaq composite rose 29.01 points, or 0.3%, to 9,953.75.

In another sign of increased caution, the yield on the 10-year Treasury yield fell to 0.83% from 0.88% late Monday. It tends to move with investors’ expectations of the economy and inflation, though it’s still well above the 0.64% level where it started last week.

The next big milestone for markets is coming Wednesday, when the Federal Reserve announces its decision on monetary policy following a two-day meeting. The Fed’s promise of immense, unprecedented amounts of aid helped stocks begin their rally, and investors want to see what their reaction will be to the recent upturn in jobs numbers.

*ASX 200 to fall.*
The ASX 200 looks set to run out of steam on Wednesday and drop lower. According to the latest SPI futures, the benchmark index is expected to fall 91 points or 1.5% at the open. This follows a mixed night of trade on Wall Street which saw the Dow Jones fall 1.1%, the S&P 500 drop 0.8%, and the Nasdaq push 0.3% higher. The latter index hit a record high during last night’s trade.










https://apnews.com/22cadbd2bcc34ecc72bac3fe31a01170

*Wall Street hits the brakes after strong, weekslong rally*
By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGAan hour ago

Wall Street hit the brakes Tuesday, a day after its remarkable, weekslong rally brought the S&P 500 back to positive for the year and the Nasdaq to a record high.

The benchmark index fell 0.8%, its largest loss in almost three weeks, as traders cashed in on some of the market’s recent gains. Financial, industrial and health care stocks led the slide. Technology companies were among the gainers, helping to push the Nasdaq to another all-time high.

Skeptics have been saying for weeks that Wall Street’s huge rally, which reached 44.5% between late March and Monday, may have been overdone. The economy has given glimmers of hope that the recession could end relatively quickly as governments lift their lockdown orders, but the strength and speed of the stock market’s rebound has easily outpaced expectations for a recovery in the broader economy and corporate profits.

“Today is actually a pretty mild digestion of recent gains, and I think it’s long overdue,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 lost 25.21 points to 3,207.18. The index is now back in the red for the year and remains 5.3% below its all-time high set in February. The Dow Jones Industrial Average dropped 300.14 points, or 1.1%, to 27,272.30. The Nasdaq composite rose 29.01 points, or 0.3%, to 9,953.75.

In another sign of increased caution, the yield on the 10-year Treasury yield fell to 0.83% from 0.88% late Monday. It tends to move with investors’ expectations of the economy and inflation, though it’s still well above the 0.64% level where it started last week.

Wall Street has been generally rising since late March, at first on relief following emergency rescues by the Federal Reserve and Congress. More recently, investors have begun piling into companies that would benefit most from a reopening economy that’s growing again.

Banks, airlines, energy companies and others that rely heavily on economic growth have been leading the way in recent weeks. They got a big boost on Friday when the government said that employers added jobs to their payrolls last month, even though economists expected millions to be cut. Investors took it as a sign that the economy could pull out of the recession that began in February relatively quickly.

Those companies went into reverse on Tuesday. American Airlines and Alaska Air Group both fell more than 8% a day after they were near the top of the leaderboard. Marathon Oil skidded 9.1%.

Travel-related companies that have been among the hardest-hit stocks due to the outbreak piled up more losses. Norwegian Cruise Line sank 10.2%, while Carnival slid 7.5%.

Technology and communication services stocks were among the gainers. Chipmaker Advanced Micro Devices climbed 6.5% and Netflix, a big winner during the coronavirus lockdown, gained 3.5%.

Smaller stocks also pulled back following a 10.2% rally in a little more than a week. The Russell 2000 index of small-cap stocks fell 29.84 points, or 1.9%, to 1,507.05.

European stock markets closed broadly lower. Germany’s DAX lost 1.6% after the country reported that its exports fell by a quarter in April. France’s CAC 40 also slid 1.6%, and the FTSE 100 in London dropped 2.1%. Asian markets ended mixed.

Oil prices rose. Benchmark U.S. crude oil for July delivery rose 2% to settle at $38.94 a barrel. Brent crude oil for August delivery rose 0.9% to $41.18 a barrel.

Investors have grown to expect negative economic data, given the widespread impact on businesses and consumers from the outbreak, and are more likely to react to unexpected positive news, like Friday’s surprising jobs report, Stovall said.

“Unless — since so many states are now reopening — we start to see a pretty sharp upward tick in virus cases,” he said. “Then, I think, Wall Street starts to worry that the government will start leaning toward shutting down once again.”

The next big milestone for markets is coming Wednesday, when the Federal Reserve announces its decision on monetary policy following a two-day meeting. The Fed’s promise of immense, unprecedented amounts of aid helped stocks begin their rally, and investors want to see what their reaction will be to the recent upturn in jobs numbers.


----------



## bigdog

Stocks closed a choppy day on Wall Street with broad losses Wednesday, despite fresh assurances from the Federal Reserve that it would keep interest rates low through 2022 and would continue buying bonds to help markets function smoothly.

The S&P 500 fell 0.5%, extending losses from a day earlier. The benchmark index had briefly climbed 0.5% following the release of the central bank’s latest policy statement. Most sectors finished lower, but a surge in technology sector stocks helped push the Nasdaq above 10,000 for the first time, giving the index its third record high close in a row. Bond yields were broadly lower, reflecting caution among investors.

The Fed has cut its benchmark short-term rate to near zero as part of a historic effort to gird the stock market and U.S. economy from the coronavirus pandemic’s economic ravages. The central bank made clear Wednesday that it will keep providing support by buying bonds to maintain low borrowing rates. It also forecast no rate hike through 2022, which could make it easier for consumers and businesses to borrow and spend enough to sustain an economy depressed by business shutdowns and high unemployment.

The move to leave its key interest rate unchanged wasn’t a surprise to investors, but the fact that nearly all of the members of the central bank’s Federal Open Market Committee foresee no rate hike through 2022 was noteworthy, said Brian Nick, chief investment strategist at Nuveen.

“What you have on the FOMC is unanimity that rates ought to stay low and that their communication should continue to emphasize that they’re not going to raise interest rates, absent a material improvement in the economy,” he said.

The combination of low interest rates and low inflation has been a key driver for gains in big technology companies that can grow almost regardless of the economy.

“That’s been the magic formula for growth stocks,” Nick said.

The S&P 500 dropped 17.04 points to 3,190.14. The Dow Jones Industrial Average fell 282.31 points, or 1%, to 26,989.99. The Nasdaq composite gained 66.59 points, or 0.7%, to 10,020.35. Small company stocks bore the brunt of the selling. The Russell 2000 index lost 39.66 points, or 2.6%, to 1,467.39.

Wall Street has been generally rising since late March, at first on relief following emergency rescues by the Fed and Congress. More recently, investors have begun piling into companies that would benefit most from a reopening economy that’s growing again. The S&P 500, a benchmark for many index funds, is now within 6% of reclaiming the all-time high it reached in February.

*ASX 200 expected to drop lower.*
The ASX 200 looks set to end its winning streak on Thursday. According to the latest SPI futures, the benchmark index is expected to drop 73 points or 1.2% at the open. This follows another mixed night of trade on Wall Street overnight. The Dow Jones dropped 1.05%, the S&P 500 fell 0.5%, and the Nasdaq defied the selling once again with a 0.7% gain.

*Tech shares could rise.*
Although the market is expected to sink lower today, Australian tech shares such as *Altium Limited* (ASX: ALU) and *Appen Ltd* (ASX: APX) could defy this and push higher. The local tech sector has a habit of following the lead of the Nasdaq index, which stormed higher and closed above 10,000 points for the first time.










https://www.usnews.com/news/busines...res-mostly-higher-ahead-of-fed-policy-meeting

*Stocks End Mostly Lower, Even as Nasdaq Tops 10,000 Points*
Stocks ended a bumpy day mostly lower Wednesday despite assurances from the Federal Reserve that it would keep interest rates low through 2022 and would continue buying bonds to help markets function smoothly.
By Associated Press, Wire Service Content June 10, 2020, at 4:48 p.m

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Stocks closed a choppy day on Wall Street with broad losses Wednesday, despite fresh assurances from the Federal Reserve that it would keep interest rates low through 2022 and would continue buying bonds to help markets function smoothly.

The S&P 500 fell 0.5%, extending losses from a day earlier. The benchmark index had briefly climbed 0.5% following the release of the central bank’s latest policy statement. Most sectors finished lower, but a surge in technology sector stocks helped push the Nasdaq above 10,000 for the first time, giving the index its third record high close in a row. Bond yields were broadly lower, reflecting caution among investors.

The Fed has cut its benchmark short-term rate to near zero as part of a historic effort to gird the stock market and U.S. economy from the coronavirus pandemic’s economic ravages. The central bank made clear Wednesday that it will keep providing support by buying bonds to maintain low borrowing rates. It also forecast no rate hike through 2022, which could make it easier for consumers and businesses to borrow and spend enough to sustain an economy depressed by business shutdowns and high unemployment.

The move to leave its key interest rate unchanged wasn’t a surprise to investors, but the fact that nearly all of the members of the central bank’s Federal Open Market Committee foresee no rate hike through 2022 was noteworthy, said Brian Nick, chief investment strategist at Nuveen.

“What you have on the FOMC is unanimity that rates ought to stay low and that their communication should continue to emphasize that they’re not going to raise interest rates, absent a material improvement in the economy,” he said.

The combination of low interest rates and low inflation has been a key driver for gains in big technology companies that can grow almost regardless of the economy.

“That’s been the magic formula for growth stocks,” Nick said.

The S&P 500 dropped 17.04 points to 3,190.14. The Dow Jones Industrial Average fell 282.31 points, or 1%, to 26,989.99. The Nasdaq composite gained 66.59 points, or 0.7%, to 10,020.35. Small company stocks bore the brunt of the selling. The Russell 2000 index lost 39.66 points, or 2.6%, to 1,467.39.

Wall Street has been generally rising since late March, at first on relief following emergency rescues by the Fed and Congress. More recently, investors have begun piling into companies that would benefit most from a reopening economy that’s growing again. The S&P 500, a benchmark for many index funds, is now within 6% of reclaiming the all-time high it reached in February.

Still, uncertainty remains over how quickly economies can recover from the pandemic, given that the numbers of infections and fatalities are still rising in many countries.

“What matters to the market is making sure the coronavirus doesn’t come back in any material way and making sure the Fed is continuing to support economic activity,” said Mike Zigmont, head of trading and research at Harvest Volatility Management.

A report on Friday showing that the U.S. job market surprisingly strengthened last month helped stoke optimism among investors that the economy can climb out of its current hole faster than forecast. Employers added 2.5 million workers to their payrolls, when economists were expecting them instead to slash another 8 million jobs.

But in remarks during a virtual news conference Wednesday, Fed Chair Jerome Powell said the May jobs data, while encouraging, was hardly enough to ensure that the job market or the economy is back on track.

“The labor market may have hit bottom in May,” Powell said. But, he added, “we’re not going to overreact to a single data point.”

Airlines were among the big decliners Wednesday after Delta Air Lines warned in a regulatory filing that it expects its revenue in the second quarter to be down 90% from a year earlier. Delta fell 7.4%, American Airlines dropped 8.2% and Alaska Air Group lost 10%.

Two of the nation’s biggest mall owners fell sharply after Simon Property Group backed out of its $3.6 billion takeover of rival Taubman Centers. The buyout deal was signed in February, just before the pandemic began to spread in the U.S. Simon Property slid 4%, while Taubman plunged 20.1%.

Shares in electric car and solar panel maker Tesla closed above $1,000 for the first time, climbing 9% to $1,025.05. The stock also closed at a new high on Monday. Tesla shares have more than doubled so far this year.

Bond yields fell. The yield on the 10-year Treasury yield slid to 0.72% from 0.82% late Tuesday. It tends to move with investors’ expectations of the economy and inflation, though it’s still well above the 0.64% level where it started last week.

Oil prices rose. Benchmark U.S. crude oil for July delivery rose 1.7% to settle at $39.60 a barrel. Brent crude oil for August delivery rose 1.3% to $41.73 a barrel.

European indexes closed broadly lower, while Asian markets ended mixed.

The pullback in global stocks came as the Organization for Economic Cooperation and Development said the coronavirus crisis has triggered the worst global recession in nearly a century and projected that the global economy will shrink by 6% this year in a best-case scenario, with only a modest pick-up next year.

The estimate, which is based on an analysis of the latest global economic data, suggests an even sharper decline of 7.6% if there is a second wave of coronavirus contagions this year.


----------



## bigdog

Stocks fell sharply Thursday on Wall Street as coronavirus cases in the U.S. increased again, deflating recent optimism for a quick economic recovery and raising more doubts about how long the market’s scorching comeback can last.

The Dow Jones Industrial Average sank more than 1,800 points and the S&P 500 dropped 5.9%, its worst day since mid-March, when stocks went through repeated harrowing falls as the virus lockdowns began.

Many market watchers have been saying that the comeback in the market since late March was overdone and did not reflect the dire state of an economy in its worst crisis in decades. The S&P 500 rallied 44.5% between late March and Monday, erasing most of its losses tied to the pandemic.

The selling comes as coronavirus cases rise in the U.S., with some of the increase likely tied to the reopening of businesses and the lifting of stay-at-home orders. Cases are climbing in nearly half the states, according to an Associated Press analysis, a worrying trend that could intensify as people return to work and venture out during the summer.

“Not surprisingly, a lack of preventative behavior has led to a resurgence in COVID-19 cases around the country, and the stock market is having another gut check,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance.

Investor optimism for a speedy recovery was also dimmed by the Federal Reserve, which warned Wednesday that the road to recovery from the worst downturn in decades would be long and vowed to keep rates low for the foreseeable future.

Those factors, along with the recent run-up in stock prices, set the stage for the wave of selling Thursday.

The S&P 500 dropped 188.04 points to 3,002.10, its biggest decline since March 16. The Dow skidded 1,861.82 points, or 6.9%, to 25,128.17. The Nasdaq composite, which rose above 10,000 for the first time a day earlier, lost 527.62 points, or 5.3%, to 9,492.73.

Small company stocks continued to bear the brunt of the selling, a signal that investors are becoming more pessimistic about a broad recovery in the economy. The Russell 2000 index fell 111.17 points, or 7.6%, to 1,356.22. European and Asian markets also fell.

Nearly all of the companies in the S&P 500 closed lower. Technology, financial, industrial and health care stocks accounted for a big slice of the market’s broad slide. Energy stocks were the biggest losers as crude oil prices fell sharply on worries that a slumping economy would need less energy.

*ASX 200 expected to extend its decline.*
It looks set to be another bleak day of trade for the ASX 200 after Wall Street crashed lower overnight. According to the latest SPI futures, the benchmark index is expected to sink 185 points or 3.1% lower at the open. On Wall Street the Dow Jones dropped 6.9%, the S&P 500 fell 5.9%, and the Nasdaq sank 5.3%.










https://www.usnews.com/news/busines...-slide-as-rising-virus-cases-haunt-reopenings

*Dow Sinks 1,800 as Virus Cases Rise, Deflating Optimism*
The Dow Jones industrials lost more than 1,800 points, nearly 7%, as increases in coronavirus cases deflated optimism that the economy could recover quickly from its worst crisis in decades.
By Associated Press, Wire Service Content June 11, 2020, at 5:42 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Stocks fell sharply Thursday on Wall Street as coronavirus cases in the U.S. increased again, deflating recent optimism for a quick economic recovery and raising more doubts about how long the market’s scorching comeback can last.

The Dow Jones Industrial Average sank more than 1,800 points and the S&P 500 dropped 5.9%, its worst day since mid-March, when stocks went through repeated harrowing falls as the virus lockdowns began.

Many market watchers have been saying that the comeback in the market since late March was overdone and did not reflect the dire state of an economy in its worst crisis in decades. The S&P 500 rallied 44.5% between late March and Monday, erasing most of its losses tied to the pandemic.

The selling comes as coronavirus cases rise in the U.S., with some of the increase likely tied to the reopening of businesses and the lifting of stay-at-home orders. Cases are climbing in nearly half the states, according to an Associated Press analysis, a worrying trend that could intensify as people return to work and venture out during the summer.

“Not surprisingly, a lack of preventative behavior has led to a resurgence in COVID-19 cases around the country, and the stock market is having another gut check,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance.

Investor optimism for a speedy recovery was also dimmed by the Federal Reserve, which warned Wednesday that the road to recovery from the worst downturn in decades would be long and vowed to keep rates low for the foreseeable future.

Those factors, along with the recent run-up in stock prices, set the stage for the wave of selling Thursday.

The S&P 500 dropped 188.04 points to 3,002.10, its biggest decline since March 16. The Dow skidded 1,861.82 points, or 6.9%, to 25,128.17. The Nasdaq composite, which rose above 10,000 for the first time a day earlier, lost 527.62 points, or 5.3%, to 9,492.73.

Small company stocks continued to bear the brunt of the selling, a signal that investors are becoming more pessimistic about a broad recovery in the economy. The Russell 2000 index fell 111.17 points, or 7.6%, to 1,356.22. European and Asian markets also fell.

Nearly all of the companies in the S&P 500 closed lower. Technology, financial, industrial and health care stocks accounted for a big slice of the market’s broad slide. Energy stocks were the biggest losers as crude oil prices fell sharply on worries that a slumping economy would need less energy. Bond yields also fell, a sign of increasing caution among investors, and the price of gold surged 1.1% as investors shifted money into the traditional safe-haven assets.

Emergency rescue efforts by the Fed and Congress helped arrest the market’s staggering 34% skid in February and March. Since then, the market had been riding a wave of investor optimism that the economy will bounce back by the end of the year, if not sooner, as businesses reopen and people go back to work. But confidence in that scenario is waning as infections and fatalities continue to climb in the U.S. and elsewhere.

Investors are still waiting for more data to see whether the spike in COVID-19 cases is a sign of a possible second wave of the infection, said Charlie Ripley, senior investment strategist for Allianz Investment Management.

“We think the recovery is largely underway, but there is still some considerable uncertainty on the path we have ahead,” Ripley said. “If we see some more follow-on of people coming back to work and consumer sentiment picking up, that will be a positive sign for a faster recovery."

The market's historic comeback in April and May was driven in part by a surge in individual investors eager to buy up stocks at lower prices despite a backdrop of historic job losses, forecasts of sinking corporate profits and a global recession. The trend led to a record surge in new accounts opened by individual investors at brokerages and a record volume of trades. This week's sell-off has likely cut into many of those investors' recent gains.

Anxious investors shifted more money into government bonds Thursday, sending yields broadly lower. The yield on the 10-year Treasury yield slid to 0.66% from 0.74% late Wednesday, a big move. Last Friday it briefly rose above 0.90%, and it started the year at 1.92%.

The Labor Department said Thursday that about 1.5 million people applied for U.S. unemployment benefits last week, another sign that many Americans are still losing their jobs even as the economy begins to gradually reopen. The latest figure marked the 10th straight weekly decline in applications for jobless aid since they peaked in mid-March when the coronavirus hit hard. Still, the pace of layoffs remains historically high.

Other jobs data have been more encouraging. A report issued last week showed that the U.S. job market surprisingly strengthened last month as employers added 2.5 million workers to their payrolls. Economists had been expecting them instead to slash another 8 million jobs.

That report helped stoke optimism among investors that the economy can climb out of its current hole faster than forecast. But the Fed estimated Wednesday that the economy will shrink 6.5% this year, in line with other forecasts, before expanding 5% in 2021. It also expects the unemployment rate at 9.3%, near the peak of the last recession, by the end of this year. The rate is now 13.3%.


----------



## bigdog

Wall Street managed to end a bumpy day broadly higher Friday but still finished with its worst week in nearly three months.

The S&P 500 rose 1.3% a day after dropping nearly 6% in its biggest rout since mid-March. It lost 4.8% for the week, snapping a three-week winning streak for the benchmark index. Small-company stocks and bond yields rose, meaning investors were a bit more willing to take on risk again a day after the sell-off.

The volatility this week interrupted what had been a dramatic rally for the market. After surging Monday, stocks sold off for three straight days as a rise in COVID-19 cases in the U.S. and a discouraging economic outlook from the Federal Reserve dashed investors' optimism that the economy will recover relatively quickly as states lift stay-at-home orders and businesses reopen.

“Yesterday was the market taking a needed breath and saying ’OK, this is probably going to take more time than we were expecting,” said Willie Delwiche, investment strategist at Baird. “Today, it’s ‘maybe we overreacted yesterday.’”

The comeback rally lost some of its early strength as the day went on. The S&P 500 gained 39.21 points to 3,041.31 after shedding more than half of its early gains.

The Dow Jones Industrial Average rose 477.37 points, or 1.9%, to 25,605.54. It had been up more than 800 points in the early going. It closed the week with a 5.6% loss.

Investors have been balancing optimism about the reopening of the economy against the possibility that the relaxing of restrictions will lead to a surge in new coronavirus infections and fatalities. Cases are climbing in nearly half the states, according to an Associated Press analysis, a worrying trend that could intensify as people return to work and venture out during the summer.

Despite the uncertainty, stocks have mounted a historic comeback the past couple of months, with the S&P 500 rallying 44.5% between late March and Monday, erasing most of its losses tied to the pandemic. It’s unclear if Thursday’s market sell-off reflected a fundamental reassessment of the economic outlook or a one-off drop as traders cashed in on the market’s recent gains.










https://www.usnews.com/news/busines...id-after-wall-street-rout-as-virus-cases-rise

*US Stocks Bounce Higher, but Still End the Week With a Loss*
Stocks closed another bumpy day with solid gains on Wall Street, but not enough to erase its worst weekly loss since late March.
By Associated Press, Wire Service Content June 12, 2020, at 5:37 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Wall Street managed to end a bumpy day broadly higher Friday but still finished with its worst week in nearly three months.

The S&P 500 rose 1.3% a day after dropping nearly 6% in its biggest rout since mid-March. It lost 4.8% for the week, snapping a three-week winning streak for the benchmark index. Small-company stocks and bond yields rose, meaning investors were a bit more willing to take on risk again a day after the sell-off.

The volatility this week interrupted what had been a dramatic rally for the market. After surging Monday, stocks sold off for three straight days as a rise in COVID-19 cases in the U.S. and a discouraging economic outlook from the Federal Reserve dashed investors' optimism that the economy will recover relatively quickly as states lift stay-at-home orders and businesses reopen.

“Yesterday was the market taking a needed breath and saying ’OK, this is probably going to take more time than we were expecting,” said Willie Delwiche, investment strategist at Baird. “Today, it’s ‘maybe we overreacted yesterday.’”

The comeback rally lost some of its early strength as the day went on. The S&P 500 gained 39.21 points to 3,041.31 after shedding more than half of its early gains.

The Dow Jones Industrial Average rose 477.37 points, or 1.9%, to 25,605.54. It had been up more than 800 points in the early going. It closed the week with a 5.6% loss.

Investors have been balancing optimism about the reopening of the economy against the possibility that the relaxing of restrictions will lead to a surge in new coronavirus infections and fatalities. Cases are climbing in nearly half the states, according to an Associated Press analysis, a worrying trend that could intensify as people return to work and venture out during the summer.

Despite the uncertainty, stocks have mounted a historic comeback the past couple of months, with the S&P 500 rallying 44.5% between late March and Monday, erasing most of its losses tied to the pandemic. It’s unclear if Thursday’s market sell-off reflected a fundamental reassessment of the economic outlook or a one-off drop as traders cashed in on the market’s recent gains.

“We will continue to see volatility across the markets, as there is plenty of uncertainty on what the reopening of the U.S. economy looks like,” said Julie Fox, northeast private wealth market head at UBS Financial Services.

In a press conference earlier this week, Fed Chair Jerome Powell put a damper on hopes for a swift economic rebound from the coronravirus pandemic, noting that surprisingly strong May hiring data, while encouraging, was hardly enough to ensure that the job market or the economy is back on track.

“This is a battle of optimism and realism that’s been playing out over the last three months," said Adam Taback, chief investment officer for Wells Fargo Private Wealth Management. "Optimism was winning over realism with a look toward 2021. What Jerome Powell exposed is 2021 is not enough time. It’s likely 2022 or even 2023 before we will see ourselves get back to normal.”

Taback said the job market remains the most important gauge of the economy's recovery, which is why he's keeping an eye on data for signs that people who were laid off or furloughed are getting rehired as businesses reopen.

“The main thing to watch is how fast those jobs come back, because they’ll be directly tied to how much consumers are spending,” he said.

Technology, financial and industrial stocks were among the big gainers Friday. Utilities stocks posted a small loss. Companies that were among the biggest losers Thursday were big gainers Friday, including airlines and cruise lines.

The Nasdaq, which climbed above 10,000 points for the first time on Wednesday, gained 96.08 points, or 1%, to 9,588.81. The Russell 2000 index of smaller companies fared better than the rest of the market, climbing 31.46 points, or 2.3%, to 1,387.68. European markets closed mostly higher. Asian markets ended broadly lower.

Bond yields rose. The yield on the 10-year Treasury yield increased to 0.69% from 0.65% late Thursday.

Oil prices ended mixed. Benchmark U.S. crude oil for July delivery fell 8 cents to settle at $36.26 a barrel. Brent crude oil for August delivery rose 18 cents to close at $38.73 a barrel.

325


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## bigdog

*ASX 200 to rebound.*
The ASX 200 looks set to rebound on Monday after a solid finish to the week in the United States. According to the latest SPI futures, the benchmark index is expected to open the week 24 points or 0.4% higher this morning. On Wall Street the Dow Jones jumped 1.9%, the S&P 500 stormed 1.3% higher, and the Nasdaq index rose 1%.


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## finicky

So I usually assume that our guide as to what the ASX will do today is not what the overnight actual results have been for the S&P500 or DJIA, or even what the ASX futures are indicating will be the open here. What tells us about how the day will go seems to be the what the US index futures are showing during our day of trading. And today is a case in point - well down following a strong prior trading day in the U.S. and a pre-trading positive ASX futures. Unless you're a day trader, who cares what the ASX open might be?


----------



## Skate

finicky said:


> Unless you're a day trader, who cares what the ASX open might be?




@finicky, I care & I'm not a "day trader". I for one like to make sense of the news.

*I tend to make up stories so I understand the direction of the market sentiment*
I tend to make up a story with the information at hand. Let me summarise the story so far today. The opening of the US market is not looking pretty "at this stage". Our markets could be in for a disaster tomorrow.

*New information*
We have to take into consideration that there is going to be so much more new information out before our markets open tomorrow. We are "part" of the world trading game, admittedly a small part as we are all interconnected. Let me concentrate on the initial driver of our markets, the "U.S". The story so far.

*World Markets* (currently 6:07pm)
@finicky - It's not looking good, take notice by looking at the % level of Change so far - "WOW" these percentages are worrying (indicating the direction of new markets "when they open")
Nikkei 225 Japan 21,530.95 -3.47% (closed)
Hang Seng Hong Kong 23,769.95 -2.19%* (currently trading)*
FTSE 100 England 5,972.46 -2.17% *(currently trading)*
DAX Germany 11,628.45 -2.68% *(currently trading)*

*US stock futures & Asian markets plunged today *
We all know our market started well but as more information was gathered the market sentiment shifted. This now signals not only our markets but global markets are headed for another volatile week as we all grapple with the ongoing effects of the coronavirus pandemic. Oil also fell, building on steep losses last week.

*Dow (INDU) futures plunged more than 800 points or 3.3% currently*
It's handy for me to have a window into our future & the (INDU) futures provides this. Knowing this piece of information sets up a condition that at this stage the "DOW" looks to extending the losses ahead of Monday's open.

*S&P 500 (SPX) futures dropped 2.9%, and Nasdaq (COMP) futures were down 2.3%.*
For weeks, "Wall Street" appeared disconnected from the rest of the world. Last week, markets caught up with reality. On Thursday, all three indexes posted their biggest sell-offs since March. The indexes recovered somewhat Friday, but not enough to recoup the losses they recorded last week. The "United States" begins to reopen following coronavirus lockdowns, there is the potential for a second wave of the virus, which could have devastating effects for the economy. A second wave could undermine the extreme optimism about the economy that had catapulted US stocks toward record highs.

*I like to know what's going on*
So, let me say once again, I care.

Skate


----------



## Chronos-Plutus

We got a strengthening USD, with gold down ~1.45%, and Dow Futures tanking. 

Markets are beginning to panic.


----------



## bigdog

Wall Street rallied back from a sharp, early slump on Monday to notch modest gains after the Federal Reserve unveiled its latest push to prop up the economy.

The S&P 500 climbed 0.8% in the latest day of big swings for global markets, as a remarkable, weekslong rally shows some cracks. Worries are rising that additional waves of coronavirus infections could derail the swift economic recovery that Wall Street just a week ago had seemed so sure was on the way.

When trading began in New York, those worries seemed set to drag the U.S. stock market to a loss following sharp declines in Asia and more modest ones in Europe. The S&P 500 quickly fell 2.5%, with stocks that most desperately need the economy to reopen hit particularly hard.

But some investors took advantage of the nervousness and bought stocks, which helped trim the S&P 500's losses as the day progressed, before it popped decisively higher after the Fed announced in the afternoon that it will buy individual corporate bonds. The purchases will be part of its previously announced program to keep lending markets running smoothly, which allows big employers to get access to cash.

They’re also the latest reminder that the Fed is doing everything it can to help support markets, analysts said. Central banks have repeatedly come to the economy’s rescue over the years, and it was huge, unprecedented moves by the Fed earlier this year that helped put a halt to the S&P 500's nearly 34% sell-off on worries about the recession coming out of the coronavirus pandemic.

The S&P 500 rose 25.28 points to finish at 3,066.59, which is 9.4% below its record set in February.

The Dow Jones Industrial Average gained 157.62 points, or 0.6%, to finish at 25,763.16 after earlier being down as many as 762 points. The Nasdaq composite added 137.21, or 1.4%, to 9,726.02.

“Volatility is here to stay, at least for a little while,” said Jason Pride, chief investment officer of private wealth at Glenmede. “Nobody in the financial industry has a good way to forecast this.”

*ASX 200 expected to jump.*
The ASX 200 tumbled lower yesterday afternoon after U.S. futures started to point sharply lower. This morning the index looks set to rebound strongly after U.S. markets avoided a selloff and pushed higher. According to the latest SPI futures, the benchmark index is expected to open the day 134 points or 2.3% higher. On Wall Street the Dow Jones rose 0.6%, the S&P 500 pushed 0.8% higher, and the Nasdaq index jumped 1.4%.










https://www.usnews.com/news/busines...-fall-on-fears-virus-outbreaks-are-rebounding

*Stocks Erase an Early Loss After Fed Widens Bond Purchases*
The stock market shook off a weak start and ended higher after the Federal Reserve announced its latest measure to support markets.
By Associated Press, Wire Service Content June 15, 2020, at 5:20 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Wall Street rallied back from a sharp, early slump on Monday to notch modest gains after the Federal Reserve unveiled its latest push to prop up the economy.

The S&P 500 climbed 0.8% in the latest day of big swings for global markets, as a remarkable, weekslong rally shows some cracks. Worries are rising that additional waves of coronavirus infections could derail the swift economic recovery that Wall Street just a week ago had seemed so sure was on the way.

When trading began in New York, those worries seemed set to drag the U.S. stock market to a loss following sharp declines in Asia and more modest ones in Europe. The S&P 500 quickly fell 2.5%, with stocks that most desperately need the economy to reopen hit particularly hard.

But some investors took advantage of the nervousness and bought stocks, which helped trim the S&P 500's losses as the day progressed, before it popped decisively higher after the Fed announced in the afternoon that it will buy individual corporate bonds. The purchases will be part of its previously announced program to keep lending markets running smoothly, which allows big employers to get access to cash.

They’re also the latest reminder that the Fed is doing everything it can to help support markets, analysts said. Central banks have repeatedly come to the economy’s rescue over the years, and it was huge, unprecedented moves by the Fed earlier this year that helped put a halt to the S&P 500's nearly 34% sell-off on worries about the recession coming out of the coronavirus pandemic.

The S&P 500 rose 25.28 points to finish at 3,066.59, which is 9.4% below its record set in February.

The Dow Jones Industrial Average gained 157.62 points, or 0.6%, to finish at 25,763.16 after earlier being down as many as 762 points. The Nasdaq composite added 137.21, or 1.4%, to 9,726.02.

“Volatility is here to stay, at least for a little while,” said Jason Pride, chief investment officer of private wealth at Glenmede. “Nobody in the financial industry has a good way to forecast this.”

Case numbers are still growing in states across the country and nations around the world. Governments are relaxing lockdowns in hopes of nursing their devastated economies back to life, but without a vaccine, the reopenings could bring on further waves of COVID-19 deaths.

China is reporting a new outbreak in Beijing, one that appears to be the biggest since it largely stopped its spread at home more than two months ago. In New York, the governor is upset that big groups of people are packing together outside bars and restaurants without face masks, and he threatened to reinstate closings in areas where local governments fail to enforce the rules.

That’s the biggest worry for markets: If infections swamp the world, governments could bring back the orders for people to stay at home and for businesses to shut down that sent the economy into its worst recession in decades. Even if that doesn’t happen, rolling waves of outbreaks could frighten businesses and consumers enough to keep them from spending and investing, which would itself hinder the economy.

It was just a week ago that investors seemed ebullient about expectations for a coming economic recovery. The hopes got a shot of adrenaline earlier this month when a report showed that U.S. employers added jobs to their payrolls in May, a big surprise when economists were expecting to see millions more jobs lost. That raised expectations that the economy could climb out of its hole nearly as quickly as it plunged into it.

That optimism sent the stock market on a second leg of its rally, which began in March after the Federal Reserve and Congress promised unprecedented amounts of aid to support the economy. Besides its corporate bond buying program, the Fed has also cut interest rates back to nearly zero and expects to keep them there through 2022. Its chair, Jerome Powell, may offer more details about the Fed's outlook in scheduled testimony before Congress this week.

All through its torrid rally, though, many professional investors were warning that the market's gains may have been overdone considering how long and uncertain the economic recovery looked to be. The S&P 500 climbed back to within 4.5% of its record high last week.

Some of the rally was likely driven by a big influx of individual investors into the market. Brokerages reported big increases in client numbers and trading earlier this year, and stocks popular with individual investors have returned 61% since the market hit a bottom on March 23, according to Goldman Sachs. That's much more than the 45% rise for stocks popular with hedge funds and traditional mutual funds.

The yield on the 10-year Treasury note rose to 0.71% from 0.69% late Friday. It tends to rise and fall with investors’ expectations for the economy and inflation, and it had been above 0.90% earlier this month.

In Asia, South Korea’s Kospi dropped 4.8%, Japan’s Nikkei 225 lost 3.5% and the Hang Seng in Hong Kong fell 2.2%. In Europe, France’s CAC 40 slipped 0.5%, Germany’s DAX lost 0.3% and the FTSE 100 in London dipped 0.7%


----------



## bigdog

Stocks rose again Tuesday, part of a strong and worldwide rally for markets, after a big rebound in buying at U.S. stores and online raised hopes that the economy can escape its recession relatively quickly.

The S&P 500 climbed 1.9% for its third straight gain, bringing it back within 8% of its record set in February. Gains have built in recent weeks as reports bolster investor expectations that the worst of the downturn may have already passed.

Continuing, immense aid from the Federal Reserve is also supporting markets, and its chair said Tuesday that the central bank will continue to use all its tools to cushion the blow of the worst recession in decades. But trading remains very skittish across markets as worsening coronavirus trends in several global hotspots raise the possibility that all the improvements could unravel.

The S&P 500 shot to an early 2.8% gain, lost nearly all of it at one point and then rallied back. By the end of Tuesday, the index was up 58.15 points at 3,124.74.

The Dow Jones Industrial Average rose 526.82, or 2%, to 26,289.98, and the Nasdaq composite climbed 169.84, or 1.7%, to 9,895.87.

“The markets have been looking forward to the economy reopening, and that’s a large part of the story for the next few months,” said Bruce Bittles, chief investment strategist at Baird.

“My feeling is that while reopenings and things get better, it won’t be without some backsteps, and I think it’ll be a rocky few months more for the markets.”

Retail sales jumped 17.7% from April to May, more than double economists’ expectations, to retrace some of their record-setting plunges in March and April as businesses reopened across the country. It follows earlier reports that the U.S. job market unexpectedly strengthened last month.

*ASX 200 poised to extend its gains.*
It looks set to be another good day of trade for the ASX 200. According to the latest SPI futures, the benchmark index is expected to open the day 26 points or 0.45% higher this morning. This follows a positive night of trade on Wall Street which saw the Dow Jones rise 2.05%, the S&P 500 jump 1.9% higher, and the Nasdaq index stormed 1.75% higher. Strong U.S. retail sales data helped drive Wall Street higher.











https://www.usnews.com/news/busines...follow-wall-st-higher-after-fed-ups-bond-buys

*Stocks Rally Worldwide on Hopes for Coming Economic Recovery*
Stocks rose on Wall Street, notching their third gain in a row, after U.S. retail sales rebounded last month by much more than economists were expecting.
By Associated Press, Wire Service Content June 16, 2020, at 5:18 p.m. 

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Stocks rose again Tuesday, part of a strong and worldwide rally for markets, after a big rebound in buying at U.S. stores and online raised hopes that the economy can escape its recession relatively quickly.

The S&P 500 climbed 1.9% for its third straight gain, bringing it back within 8% of its record set in February. Gains have built in recent weeks as reports bolster investor expectations that the worst of the downturn may have already passed.

Continuing, immense aid from the Federal Reserve is also supporting markets, and its chair said Tuesday that the central bank will continue to use all its tools to cushion the blow of the worst recession in decades. But trading remains very skittish across markets as worsening coronavirus trends in several global hotspots raise the possibility that all the improvements could unravel.

The S&P 500 shot to an early 2.8% gain, lost nearly all of it at one point and then rallied back. By the end of Tuesday, the index was up 58.15 points at 3,124.74.

The Dow Jones Industrial Average rose 526.82, or 2%, to 26,289.98, and the Nasdaq composite climbed 169.84, or 1.7%, to 9,895.87.

“The markets have been looking forward to the economy reopening, and that’s a large part of the story for the next few months,” said Bruce Bittles, chief investment strategist at Baird.

“My feeling is that while reopenings and things get better, it won’t be without some backsteps, and I think it’ll be a rocky few months more for the markets.”

Retail sales jumped 17.7% from April to May, more than double economists’ expectations, to retrace some of their record-setting plunges in March and April as businesses reopened across the country. It follows earlier reports that the U.S. job market unexpectedly strengthened last month.

Economists at IHS Markit said this could be the shortest recession on record for the United States, perhaps just a couple months.

Among other encouraging signs spurring markets worldwide: Researchers in England said they have the first evidence that a drug can improve survival from COVID-19, one that is already widely available and cheap.

Underpinning all of the market’s strength is continued aid coming from central banks, which have repeatedly come to the economy’s rescue. The Federal Reserve helped turn markets around on Monday after it said it will buy individual corporate bonds as part of a previously announced program to support lending markets.

“The Fed has flooded the economy with liquidity,” said Randy Frederick, vice president of trading and derivatives at Charles Schwab.

And with lots of cash sitting uninvested in money market accounts, the market has more potential fuel for its next leg higher, he said. “People are just waiting for any good news to jump in and drive that higher.”

Still, caution continues to run through markets. A record number of fund managers in Bank of America’s monthly survey say the stock market is overvalued following its nearly 40% surge since late March.

The rally has also been showing some cracks recently as investors worry that a possible resurgence of infections could push governments to reinstate lockdown measures to slow the spread of the virus.

Analysts on Tuesday cited discouraging trends in Florida, Texas and China. And even if the stay-at-home orders don’t come back, worried consumers and businesses could pull back on their spending.

Skepticism has been high about the stock market’s run since it began climbing since hitting a bottom in late March, down 34% from its record. The huge backstops from the Fed and Capitol Hill helped halt the declines.

More recently, investors have been pushing up shares of companies that would benefit from a reopening economy on expectations that activity can rebound as governments relax shutdown restrictions put in place to slow the spread of the virus.

Such stocks were again leading the market on Tuesday. Smaller stocks were among the market’s biggest gainers, which often happens when investors are getting more optimistic about the economy. The Russell 2000 index of small-cap stocks rose 2.3%.

Nordstrom jumped 12.9% for one of the biggest gains in the S&P 500, leading a group of retailers that stand to benefit if shoppers return to stores.

The yield on the 10-year Treasury rose to 0.74% from 0.70% late Monday. It tends to move with investors’ expectations for the economy and inflation.

In Asia, Japan’s Nikkei 225 jumped 4.9%, South Korea’s Kospi surged 5.3% and the Hang Seng in Hong Kong rose 2.4%. In Europe, Germany’s DAX returned 3.4%, France’s CAC 40 rose 2.8% and the FTSE 100 in London added 2.9%.

Benchmark U.S. crude oil for July delivery rose $1.26 to settle at $38.38 a barrel Monday. Brent crude oil for August delivery rose $1.24 to $40.96 a barrel.


----------



## Garpal Gumnut

bigdog said:


> Stocks rose again Tuesday, part of a strong and worldwide rally for markets, after a big rebound in buying at U.S. stores and online raised hopes that the economy can escape its recession relatively quickly....................................................................................



Thanks @bigdog
A good summary with which to start the day.
gg


----------



## bigdog

Stocks mostly fell in another day of wobbly trading on Wall Street Wednesday, as markets eased off the accelerator following their big rally.

The S&P 500 dipped 0.4% to break a three-day winning streak, after bouncing between small gains and losses for much of the day. Stocks in Asia and Europe made modest gains, while Treasury yields edged lower.

Markets have been trending upward this week amid hopes that the worst of the recession may have already passed, and a worldwide rally on Tuesday carried the S&P 500 back to within 8% of its record. But rising levels of coronavirus infections in several hotspots around the world is also raising concerns that all the improvements could get upended.

The S&P 500 fell 11.25 points to 3,113.49, with roughly seven out of every 10 stocks in the index down. The Dow Jones Industrial Average lost 170.37, or 0.6%, to 26,119.61. The Nasdaq composite was an outlier and rose 14.66, or 0.1%, to 9,910.53.

Many professional investors have been warning that the S&P 500’s big rally of nearly 40% since late March has been overdone and that volatility is likely the market’s only certainty in upcoming months.

The market began its turnaround following a nearly 34% sell-off in February and March after the Federal Reserve promised massive amounts of aid for the economy. The central bank’s chair told Congress Wednesday that it’s willing to keep interest rates at nearly zero and maintain its emergency lending programs.

But even though recent reports have also shown improvements in U.S. retail sales and employment as businesses reopen, the road back to a full recovery from the coronavirus pandemic will be long and is full of potential setbacks. That stands in sharp contrast to the market’s lightning surge over the last three months.

*ASX 200 expected to drop lower.*
The ASX 200 looks set to end its winning streak on Thursday. According to the latest SPI futures, the benchmark index is poised to open the day 32 points or 0.55% lower this morning. This follows a disappointing night of trade on Wall Street which saw the Dow Jones fall 0.65%, the S&P 500 drop 0.35%, and the Nasdaq index edge 0.15% higher.










https://www.usnews.com/news/busines...wer-after-wall-street-gains-on-recovery-hopes

*Wall Street Dips as Global Rally Eases off the Accelerator*
Stocks mostly fell in another day of wobbly trading on Wall Street Wednesday, as markets eased off the accelerator following their big rally.
By Associated Press, Wire Service Content June 17, 2020, at 4:41 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Stocks mostly fell in another day of wobbly trading on Wall Street Wednesday, as markets eased off the accelerator following their big rally.

The S&P 500 dipped 0.4% to break a three-day winning streak, after bouncing between small gains and losses for much of the day. Stocks in Asia and Europe made modest gains, while Treasury yields edged lower.

Markets have been trending upward this week amid hopes that the worst of the recession may have already passed, and a worldwide rally on Tuesday carried the S&P 500 back to within 8% of its record. But rising levels of coronavirus infections in several hotspots around the world is also raising concerns that all the improvements could get upended.

The S&P 500 fell 11.25 points to 3,113.49, with roughly seven out of every 10 stocks in the index down. The Dow Jones Industrial Average lost 170.37, or 0.6%, to 26,119.61. The Nasdaq composite was an outlier and rose 14.66, or 0.1%, to 9,910.53.

Many professional investors have been warning that the S&P 500’s big rally of nearly 40% since late March has been overdone and that volatility is likely the market’s only certainty in upcoming months.

The market began its turnaround following a nearly 34% sell-off in February and March after the Federal Reserve promised massive amounts of aid for the economy. The central bank’s chair told Congress Wednesday that it’s willing to keep interest rates at nearly zero and maintain its emergency lending programs.

But even though recent reports have also shown improvements in U.S. retail sales and employment as businesses reopen, the road back to a full recovery from the coronavirus pandemic will be long and is full of potential setbacks. That stands in sharp contrast to the market’s lightning surge over the last three months.

Consider Norwegian Cruise Line Holdings, whose stock has often led the market — both up and down — as expectations swing about the reopening economy. It had six straight days this month where it rose or fell more than 10%.

It said late Tuesday that it’s cancelling most of its voyages through September. Its shares fell 8.4% for one of the largest losses in the S&P 500.

The chief risk for the market lies in rising infection levels in several hotspots around the world, including Florida, Texas and China. Even if authorities don’t reinstate widespread lockdowns, the worry is that businesses and consumers could get frightened by new waves of infections and pull back on their spending.

Such worries rocked the market last week, sending the S&P 500 down nearly 6% one day, and they’ve continued to hang in the background this week.

“Any indication that there is an increase in a handful of states that have led the charge in reopening does kind of douse the flames a bit for a rally,” said Nela Richardson, investment strategist at Edward Jones. “We saw that last week and we may be seeing that again today, though definitely not the same dramatic swing we saw last week.”

While cruise lines had some of the sharpest losses in the S&P 500, other companies whose profits are closely tied to the strength of the economy were also weak.

Energy companies in the S&P 500 fell 3.3% for the largest loss among the 11 sectors that make up the index. Banks were also laggards, with JPMorgan Chase down 2.5% and Bank of America down 3.1%.

Stocks of smaller companies were weak, which is typical when investors are apprehensive about the economy. The Russell 2000 index of small-cap stocks fell 1.8%.

On the winning side were some home builders after a report showed that construction rebounded following months of sharp declines due to shutdowns caused by the pandemic. D.R. Horton rose 0.9%.

The growth in housing activity, though, was not as strong as economists expected and another sign of the long road to full recovery.

“As a signal for the overall economy, what housing is telling us is despite very low rates it’s going to be a slow rebound to normal,” Richardson said.

Big technology companies made modest moves higher, including a 0.3% rise for Microsoft. Because these are the biggest companies in the S&P 500, their movements have bigger sway on the index and helped to limit the losses.

“This to me is one of the quieter days we’ve had in terms of volatility, so it’s been a little bit refreshing,” said David Chalupnik, head of active domestic portfolio managers for Nuveen.

The yield on the 10-year Treasury fell to 0.72% from 0.75% late Tuesday. It tends to move with investors’ expectations for the economy and inflation.

In Europe, Germany’s DAX returned 0.5%, and France’s CAC 40 rose 0.9%. The FTSE 100 in London added 0.2%.

In Asia, South Korea’s Kospi ticked up 0.1%, and the Hang Seng in Hong Kong rose 0.6%. Japan’s Nikkei 225 fell 0.6% after the government reported the sharpest decline in exports since the 2008 global crisis.

A barrel of U.S. crude oil for delivery in July slipped 42 cents to settle at $37.96. Brent crude, the international standard, slipped 25 cents to $40.71 per barrel


----------



## bigdog

Wall Street held at a near standstill on Thursday, with indexes split as caution about rising coronavirus infections in hotspots around the world washed over hopes for a coming economic recovery.

The S&P 500 edged up by 0.1% after flip-flopping repeatedly between small gains and losses through the day. Earlier, stocks slipped in European and Asian markets, while Treasury yields faded in another sign of increased caution.

Slightly more stocks fell in the S&P 500 than rose, but the index ended up adding 1.85 points to close at 3,115.34. The Dow Jones Industrial Average slipped 39.51, or 0.2%, to 26.080.10, and the Nasdaq composite rose 32.52, or 0.3%, to 9,943.05.

Markets worldwide have been showing more apprehension following a tremendous rally for U.S. stocks that began in late March and reached nearly 45% at one point. Surprisingly strong reports on U.S. retail sales and employment have built hopes recently that the economy can pull out of its recession relatively quickly as governments ease up on lockdown orders.

But discouraging numbers on the coronavirus in various U.S. states and elsewhere in the world have dented the optimism. Even if authorities don’t reimpose widespread lockdowns to slow the spread of the virus, the fear is that consumers and businesses could get frightened and pull back on spending. That would damage the fragile improvements that the economy seems to be developing.

“The question and the challenge for those of us who are watching the virus is what will it do to corporate earnings, and will localized shutdowns make the economic recovery even slower than it already is?” said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. “We’ve had a good snap back, but it still leaves us short of where we were before.”

A report on Thursday showed that the number of U.S. workers filling for unemployment benefits eased for the 11th straight week, down to 1.5 million from nearly 1.6 million. Economists, though, had been expecting a larger decline.

*ASX 200 expected to edge lower.*
The ASX 200 looks set to end the week on a subdued note on Friday. According to the latest SPI futures, the benchmark index is expected to open the day 4 points or 0.1% lower. This follows a mixed night of trade on Wall Street which has seen the Dow Jones fall 0.15%, but the S&P 500 rise 0.05% and the Nasdaq index climb 0.35% higher. This was the latter’s fifth straight gain.










https://apnews.com/9f088d98641ef461399b101479ce4745

*Wall Street holds in neutral after wobbly day; yields fall*
By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGAan hour ago

NEW YORK (AP) — Wall Street held at a near standstill on Thursday, with indexes split as caution about rising coronavirus infections in hotspots around the world washed over hopes for a coming economic recovery.

The S&P 500 edged up by 0.1% after flip-flopping repeatedly between small gains and losses through the day. Earlier, stocks slipped in European and Asian markets, while Treasury yields faded in another sign of increased caution.

Slightly more stocks fell in the S&P 500 than rose, but the index ended up adding 1.85 points to close at 3,115.34. The Dow Jones Industrial Average slipped 39.51, or 0.2%, to 26.080.10, and the Nasdaq composite rose 32.52, or 0.3%, to 9,943.05.

Markets worldwide have been showing more apprehension following a tremendous rally for U.S. stocks that began in late March and reached nearly 45% at one point. Surprisingly strong reports on U.S. retail sales and employment have built hopes recently that the economy can pull out of its recession relatively quickly as governments ease up on lockdown orders.

But discouraging numbers on the coronavirus in various U.S. states and elsewhere in the world have dented the optimism. Even if authorities don’t reimpose widespread lockdowns to slow the spread of the virus, the fear is that consumers and businesses could get frightened and pull back on spending. That would damage the fragile improvements that the economy seems to be developing.

“The question and the challenge for those of us who are watching the virus is what will it do to corporate earnings, and will localized shutdowns make the economic recovery even slower than it already is?” said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. “We’ve had a good snap back, but it still leaves us short of where we were before.”

A report on Thursday showed that the number of U.S. workers filling for unemployment benefits eased for the 11th straight week, down to 1.5 million from nearly 1.6 million. Economists, though, had been expecting a larger decline.

The number of workers who continue to get unemployment benefits also fell slightly. That’s an indication that some employers have begun hiring workers again. But there, too, the improvement wasn’t as healthy as economists had forecast.

“It seemed like the worst was kind of behind us,” said Keith Buchanan, senior portfolio manager at Globalt. “At the same time, in the background, is this pathogen that doesn’t read anyone’s Twitter feed, doesn’t read economic data and doesn’t know optimism or pessimism.”

“The volatility is the market just trying to digest it all,” he said.

One source of support seems to remain constant for markets, though: tremendous aid from central banks. The Bank of England on Thursday increased the size of its bond-buying program to keep interest rates low.

A day earlier, the chair of the Federal Reserve said it will continue to keep interest rates pinned at nearly zero, as well as purchase bonds in far-ranging corners of the market to support the economy. Huge, unprecedented programs by the Fed and Congress in late March were what helped the S&P 500 halt its plunge of nearly 34% when recession worries were at their height.

The S&P 500 has since shaved that loss to 8%, with recent leadership often coming from companies that would benefit most from a reopening economy.

Such stocks bounced up and down with the overall market Thursday. Cruise operator Carnival fell to an early loss of 6.8% after it reported a net loss of $4.4 billion for its latest quarter. But it later recovered and briefly turned positive before finishing the day 1.4% lower.

Stocks of smaller companies have also tracked with investors’ expectations for the economy, and they likewise swung up and down Thursday. The Russell 2000 index of small-cap stocks ended the day virtually unchanged, up just 0.54 points to 1,427.08, after earlier bouncing between a gain of 0.9% and a loss of 1%.

In Europe, Germany’s DAX lost 0.8%, and France’s CAC 40 fell 0.7%. The FTSE 100 in London dropped 0.5%.

In Asia, Japan’s Nikkei 225 slipped 0.4%, South Korea’s Kospi lost 0.4% and the Hang Seng in Hong Kong dipped 0.1%.

The yield on the 10-year Treasury slipped to 0.69% from 0.73% late Wednesday. It tends to move with investors’ expectations for the economy and inflation.

A barrel of U.S. oil for delivery in July rose 2.3% to settle at $38.84. Brent crude, the international standard, rose 2% to settle at $41.51 per barrel.


----------



## bigdog

Wall Street careened through all the forces that have pushed and pulled it through the week, at first rising on Friday amid hope for the economy and then falling on worries about worsening coronavirus levels in some states, all before ending with modest losses.

The S&P 500 dropped 0.6%, a relatively small move to cap its fourth weekly gain in the last five. But the market swung between a gain of 1.3% and a decline of 1%, another example of how uncertainty is the dominant force over Wall Street as investors weigh budding improvements in the economy against worsening infection levels in the South and West.

The Dow Jones Industrial Average dropped 208.64 points, or 0.8%, to 25,871.46 after earlier swinging from a gain of 371 points to a loss of 320 points. The Nasdaq composite inched up by 3.07 points, or less than 0.1%, to 9,946.12. The S&P 500 fell 17.60 points to 3,097.74.

Also exacerbating volatility was Friday’s simultaneous expiration of contracts for stock options and futures, an occasional occurrence that can drive bouts of buying and selling and is known as “quadruple witching day.”

Early in the day, U.S. stocks appeared set to follow European and Asian markets higher and follow through on Wall Street’s momentum from earlier in the week.

Stocks had rebounded from last week’s 4.8% drop, the worst in nearly three months, in large part because of a report showing U.S. shoppers spent much more last month at stores and online retailers than economists expected. That followed up on encouraging data about the U.S. jobs market and bolstered hopes that the economy can pull out of its recession relatively quickly.

“You’re seeing big moves off of very weak numbers,” said Quincy Krosby, chief market strategist at Prudential Financial. “What’s happening is the data are getting less bad.”

Economists at Bank of America now expect the U.S. economy to shrink 5.7% this year, a severe contraction but not as bad as their earlier forecast for an 8.1% plunge.










https://www.usnews.com/news/busines...rly-gains-but-still-on-track-for-winning-week

*Wall Street Dips as Virus Fears Drown Out Economy Hopes*
Wall Street ended a wobbly day lower Friday after worries about rising coronavirus infections in several states undercut an early rally.
By Associated Press, Wire Service Content June 19, 2020, at 5:19 p.m.

By STAN CHOE, ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — Wall Street careened through all the forces that have pushed and pulled it through the week, at first rising on Friday amid hope for the economy and then falling on worries about worsening coronavirus levels in some states, all before ending with modest losses.

The S&P 500 dropped 0.6%, a relatively small move to cap its fourth weekly gain in the last five. But the market swung between a gain of 1.3% and a decline of 1%, another example of how uncertainty is the dominant force over Wall Street as investors weigh budding improvements in the economy against worsening infection levels in the South and West.

The Dow Jones Industrial Average dropped 208.64 points, or 0.8%, to 25,871.46 after earlier swinging from a gain of 371 points to a loss of 320 points. The Nasdaq composite inched up by 3.07 points, or less than 0.1%, to 9,946.12. The S&P 500 fell 17.60 points to 3,097.74.

Also exacerbating volatility was Friday’s simultaneous expiration of contracts for stock options and futures, an occasional occurrence that can drive bouts of buying and selling and is known as “quadruple witching day.”

Early in the day, U.S. stocks appeared set to follow European and Asian markets higher and follow through on Wall Street’s momentum from earlier in the week.

Stocks had rebounded from last week’s 4.8% drop, the worst in nearly three months, in large part because of a report showing U.S. shoppers spent much more last month at stores and online retailers than economists expected. That followed up on encouraging data about the U.S. jobs market and bolstered hopes that the economy can pull out of its recession relatively quickly.

“You’re seeing big moves off of very weak numbers,” said Quincy Krosby, chief market strategist at Prudential Financial. “What’s happening is the data are getting less bad.”

Economists at Bank of America now expect the U.S. economy to shrink 5.7% this year, a severe contraction but not as bad as their earlier forecast for an 8.1% plunge.

“Economic data continue to point to a faster and stronger initial recovery,” they wrote in a BofA Global Research report. Some of that is due to economic activity being pulled forward from what they had expected to occur next year, ahead of a long road to full recovery.

The Federal Reserve also reminded markets this week how much it’s doing to prop up the economy.

The central bank said early in the week that it will buy individual corporate bonds as part of its previously announced plan to support lending markets for big employers. Later in the week, the Fed’s chair said it plans to continue to keep interest rates pinned at nearly zero to help cushion against the recession.

It was huge efforts by the Fed, along with spending by Congress, that helped the stock market turn around in March from its nearly 34% plunge.

But markets took a sharp turn lower Friday afternoon after Apple said it will temporarily close 11 stores in Arizona, Florida and the Carolinas.

The worst-case scenario for investors is that more waves of coronavirus infections lead to additional business shutdowns, which devastated the economy earlier this year. Even if widespread stay-at-home orders don't happen, the fear is that scared shoppers may still shy away from stores and businesses may pull back on their own spending.

In another demonstration of how long the road will be back to a normal economy, the Cruise Lines International Association said Friday that its members are volunteering not to sail any voyages from U.S. ports until Sept. 15.

Cruise operators had some of the market’s sharpest losses, including a 6.9% drop for Royal Caribbean Cruises.

Other companies whose profits sorely need the economy to reopen were also weak. United Airlines fell 6.4%, Nordstrom lost 6.3% and mall owner Simon Property Group fell 5.4%.

Many analysts say volatility is likely the only certainty for the market in upcoming months. It may take years for the economy to fully recover, but it took just a few months for the stock market to rally back to within 9% of its record.

“The good news is that the momentum is still there, the breadth is still there,” said Mark Hackett, chief of investment research for Nationwide. “Everything still says the path of least resistance is higher. But this afternoon is a good reminder that it’s not going to be as easy as it felt.”

In Europe, the German DAX returned 0.4%, and France’s CAC 40 rose 0.4%. The FTSE 100 in London added 1.1%.

In Asia, Japan’s Nikkei 225 rose 0.6%, the Hang Seng in Hong Kong gained 0.7% and the Kospi in South Korea rose 0.4%.

The yield on the 10-year Treasury note held steady at 0.69% after climbing as high as 0.74% earlier in the day. It tends to move with investors’ expectations for the economy and inflation.

A barrel of U.S. crude oil for delivery in July rose 2.3% to settle at $39.75. Brent crude, the international standard, gained 1.6% to settle at $42.19 per barrel.

779


----------



## bigdog

*ASX 200 set to fall heavily.*
The ASX 200 looks set to fall heavily on Monday after a mixed finish to the week in the United States. According to the latest SPI futures, the benchmark index is expected to open the week 78 points or 1.3% lower this morning. On Wall Street on Friday the Dow Jones fell 0.8%, the S&P 500 dropped 0.55%, and the Nasdaq index traded flat.


----------



## bigdog

A rally in technology companies helped stocks overcome a shaky start Monday, extending Wall Street's solid gains from last week.

The S&P 500 was rose 0.6% after initially sliding 0.6% following weakness in overseas markets as the global tally of coronavirus infections approaches 9 million. Investors are weighing the risks that rising coronavirus cases could pose to hopes for an economic recovery.

That's led traders to bid up stocks in technology companies that offer services online, a thriving conduit of commerce through the outbreak. Investors are also favoring companies that are poised to do well now that more businesses have been given the go-ahead to reopen. Retailers like Gap, Best Buy and other companies that rely on consumer spending rose Monday, outweighing losses in health care, financial and other sectors. Airlines and cruise line operators were among the biggest decliners.

Traders are also continued to hedge their bets by snapping up traditionally less risky assets, such as government bonds and gold, which also rose. Bond yields were mixed.

The price of U.S. crude oil settled above $40 a barrel for the first time since early March, before the economy all but shut down completely due to the outbreak.

The S&P 500 gained 20.12 points to 3,117.86. The Dow Jones Industrial Average picked up 153.50 points, or 0.6%, to 26,024.96 after earlier sliding 203 points. The Nasdaq composite, which is heavily weighted with technology stocks, climbed 110.35 points, or 1.1%, to 10,056.47, extending its winning streak to a seventh day.

Small company stocks, which have lagged the broader market’s rebound that began in April, also notched solid gains. The Russell 2000 index added 14.86 points, or 1.1%, to 1,433.55.

The S&P 500 was coming off its fourth weekly gain in the past five weeks. Encouraging economic data, including retail sales and hiring, have helped stoke optimism among investors that the reopening of businesses in the U.S. and other countries will pull the economy out of its recession relatively quickly. But a rise in new coronvairus cases is clouding the prospects for an economic recovery. On Friday, stocks sold off after Apple said it would be temporarily closing 11 stores again in four states, citing a surge in new virus cases.

*ASX 200 expected to rise.*
It looks set to be a positive day of trade for the ASX 200 on Tuesday after U.S. stocks pushed higher. According to the latest SPI futures, the benchmark index is expected to rise 39 points or 0.65% at the open. Overnight on Wall Street the Dow Jones pushed 0.6% higher, the S&P 500 rose 0.65%, and the Nasdaq index jumped 1.1%.  










https://www.usnews.com/news/busines...hares-mixed-as-us-reports-surging-virus-cases

*Stocks End With Solid Gains After Shaking off a Choppy Start*
Stocks are closing higher on Wall Street Monday after shaking off a choppy start.
By Associated Press, Wire Service Content June 22, 2020, at 5:00 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

A rally in technology companies helped stocks overcome a shaky start Monday, extending Wall Street's solid gains from last week.

The S&P 500 was rose 0.6% after initially sliding 0.6% following weakness in overseas markets as the global tally of coronavirus infections approaches 9 million. Investors are weighing the risks that rising coronavirus cases could pose to hopes for an economic recovery.

That's led traders to bid up stocks in technology companies that offer services online, a thriving conduit of commerce through the outbreak. Investors are also favoring companies that are poised to do well now that more businesses have been given the go-ahead to reopen. Retailers like Gap, Best Buy and other companies that rely on consumer spending rose Monday, outweighing losses in health care, financial and other sectors. Airlines and cruise line operators were among the biggest decliners.

Traders are also continued to hedge their bets by snapping up traditionally less risky assets, such as government bonds and gold, which also rose. Bond yields were mixed.

The price of U.S. crude oil settled above $40 a barrel for the first time since early March, before the economy all but shut down completely due to the outbreak.

The S&P 500 gained 20.12 points to 3,117.86. The Dow Jones Industrial Average picked up 153.50 points, or 0.6%, to 26,024.96 after earlier sliding 203 points. The Nasdaq composite, which is heavily weighted with technology stocks, climbed 110.35 points, or 1.1%, to 10,056.47, extending its winning streak to a seventh day.

Small company stocks, which have lagged the broader market’s rebound that began in April, also notched solid gains. The Russell 2000 index added 14.86 points, or 1.1%, to 1,433.55.

The S&P 500 was coming off its fourth weekly gain in the past five weeks. Encouraging economic data, including retail sales and hiring, have helped stoke optimism among investors that the reopening of businesses in the U.S. and other countries will pull the economy out of its recession relatively quickly. But a rise in new coronvairus cases is clouding the prospects for an economic recovery. On Friday, stocks sold off after Apple said it would be temporarily closing 11 stores again in four states, citing a surge in new virus cases.

“The path of the virus remains uncertain, but the market has certainly gone up and recovered to some degree as though it’s going to go OK,” said Tom Martin, senior portfolio manager with Globalt Investments.

The World Health Organization on Sunday reported the largest single-day increase in coronavirus cases by its count, at more than 183,000 new cases in the previous 24 hours. The U.N. health agency said Sunday that Brazil led the way with 54,771 cases and the US next at 36,617. India confirmed 15,400 new cases.

The United States also reported more than 30,000 new coronavirus cases on Friday and Saturday, with the daily totals their highest since May 1. A large share of the cases are in the South, West and Midwest, where hospitals in some areas are becoming overwhelmed. Case numbers in South Korea and China, meanwhile, have appeared to be moderating after recent outbreaks centered in their capitals.

Many professional investors have been warning that the S&P 500′s big rally of nearly 40% since late March has been overdone and that volatility is likely the market’s only certainty in upcoming months. The market began its turnaround following a nearly 34% sell-off in February and March after the Federal Reserve promised massive amounts of aid for the economy.

While recent economic data have shown improvement, reflecting the reopening of businesses, it may take years for the economy to fully recover. In contrast, it took just a few months for the stock market to rally back to within 9% of its record.

David Kelly, chief global strategist at JPMorgan Funds, sees a disconnect between the market's recent gains and what the economic data show. He says the markets seem to be straying further and further from fundamentals, which is making him “more distrustful of markets as an economic barometer.”

New data on home sales Monday show the virus outbreak continues to disrupt the U.S. housing market. Sales of previously occupied homes plunged 9.7% in May, according to the National Association of Realtors. The May slide pushed sales down to a seasonally adjusted annual rate of 3.91 million, the slowest pace since 2010. Still, the median home price rose 2.3% from a year ago, a sign that demand could pickup up in coming months. Homebuilder shares moved broadly higher. KB Home gained 3.7%.

Investors will get a broader look at the state of the economy toward the end of this week, when the government issues data on consumer spending, weekly unemployment aid applications and durable goods orders. On Tuesday, the Commerce Department serves up new home sales figures for May.

The yield on the 10-year Treasury note held steady at 0.70% after falling earlier in the day. It tends to move with investors’ expectations for the economy and inflation.

In commodities trading, the price of gold rose 0.8% to $1,766.40 an ounce. Oil prices also finished higher. Benchmark U.S. crude oil for July delivery rose 71 cents to settle at $40.46 a barrel for the first time since March 6. Brent crude, the international standard, rose 89 cents to $43.07 a barrel for August delivery.

European markets closed broadly lower. Britain's FTSE 100 lost 0.8% and the CAC 40 in Paris fell 0.6%. Germany's DAX slid 0.5%. Asian markets also fell overnight.


----------



## finicky

bigdog said:


> *ASX 200 expected to rise.*
> It looks set to be a positive day of trade for the ASX 200 on Tuesday after U.S. stocks pushed higher. According to the latest SPI futures, the benchmark index is expected to rise 39 points or 0.65% at the open.




And again  ... *Nope*,  because once again something ephemeral happens intraday to turn the SP500 futures down and so our ASX follows robotically. This time apparently Navarro rumoured to say US China trade deal dead, specifics don't matter though. The US market close or the ASX futures are not a reliable guide except for the ASX open and who cares about the open except daytraders and robots?


----------



## bigdog

Stocks closed higher on Wall Street Tuesday, extending the market’s recent winning streak after another strong showing by technology companies.

The S&P 500 rose 0.4% and is on pace for its third straight monthly gain. The Nasdaq composite, which is heavily weighted with technology stocks, climbed to an all-time high for the second day in a row. Bond yields rose, another sign of increasing confidence in the economy.

Health care stocks and companies that rely on consumer spending were also among the big gainers, while safe-play sectors like real estate and utilities stocks fell.

Investors have been focused on the prospects for an economic recovery as more businesses reopen after being shut down due to the coronavirus pandemic. Encouraging economic data, including retail sales and hiring, have helped stoke optimism that the recession will be relatively short-lived.

Plus, Wall Street has grown confident that the Federal Reserve and Congress are prepared to continue providing a historic amount of support to the market and economy, said Sam Stovall, chief investment strategist at CFRA.

“All of the negative news has basically been built into share prices,” Stovall said. “If we are to stumble, then the Fed and Congress are likely to step in to put a fiscal and monetary floor underneath the economy and the markets. And now, with the likelihood that the economy will not be shutting down entirely should we end up with a second wave, the market is basically saying it’s ‘onward and upward.’”

The S&P 500 rose 13.43 points to 3,131.29. The Dow Jones Industrial Average gained 131.14 points, or 0.5%, to 26,156.10. The Nasdaq climbed 74.89 points, or 0.7%, to 10,131.37. The index has only fallen twice so far in June. The Russell 2000 index of small company stocks picked up 5.81 points, or 0.4%, to 1,439.34.

The market has continued to climb, despite bouts of volatility, even as a rise in new coronvairus cases in the U.S. and other countries clouds the prospects for an economic recovery.

*ASX 200 poised to rise.*
The ASX 200 looks set to push higher on Wednesday after a positive night of trade for U.S. stocks. According to the latest SPI futures, the benchmark index is expected to rise 4 points or 0.1% at the open. Overnight on Wall Street the Dow Jones rose 0.5%, the S&P 500 pushed 0.4% higher, and the Nasdaq index climbed 0.7%. U.S. stocks lifted amid optimism that a trade deal with China isn’t over.










https://apnews.com/d5423b2b40efd8aa23236a7bb060bd75

*More gains for tech as US stocks head for a 3rd monthly gain*
By ALEX VEIGA and DAMIAN J. TROISE54 minutes ago

Stocks closed higher on Wall Street Tuesday, extending the market’s recent winning streak after another strong showing by technology companies.

The S&P 500 rose 0.4% and is on pace for its third straight monthly gain. The Nasdaq composite, which is heavily weighted with technology stocks, climbed to an all-time high for the second day in a row. Bond yields rose, another sign of increasing confidence in the economy.

Health care stocks and companies that rely on consumer spending were also among the big gainers, while safe-play sectors like real estate and utilities stocks fell.

Investors have been focused on the prospects for an economic recovery as more businesses reopen after being shut down due to the coronavirus pandemic. Encouraging economic data, including retail sales and hiring, have helped stoke optimism that the recession will be relatively short-lived.

Plus, Wall Street has grown confident that the Federal Reserve and Congress are prepared to continue providing a historic amount of support to the market and economy, said Sam Stovall, chief investment strategist at CFRA.

“All of the negative news has basically been built into share prices,” Stovall said. “If we are to stumble, then the Fed and Congress are likely to step in to put a fiscal and monetary floor underneath the economy and the markets. And now, with the likelihood that the economy will not be shutting down entirely should we end up with a second wave, the market is basically saying it’s ‘onward and upward.’”

The S&P 500 rose 13.43 points to 3,131.29. The Dow Jones Industrial Average gained 131.14 points, or 0.5%, to 26,156.10. The Nasdaq climbed 74.89 points, or 0.7%, to 10,131.37. The index has only fallen twice so far in June. The Russell 2000 index of small company stocks picked up 5.81 points, or 0.4%, to 1,439.34.

The market has continued to climb, despite bouts of volatility, even as a rise in new coronvairus cases in the U.S. and other countries clouds the prospects for an economic recovery.

The World Health Organization said over the weekend that the pandemic is still in its ascendancy. The U.S., which is seeing rapid increases in cases across the South and West, has the most infections and deaths by far in the world, with 2.3 million cases and over 120,000 confirmed virus-related deaths, according to a tally by Johns Hopkins University.

On Tuesday, Federal health officials told Congress to brace for a second wave of coronavirus infections in the fall and winter of this year.

While the virus remains a concern as businesses reopen, new cases aren’t yet that concerning, said Jason Draho, head of Americas asset allocation at UBS Global Wealth Management.

“Right now, that’s something to monitor, but when you look at the underlying data, it’s all still at levels that are not too concerning as opposed to where we were back in March and April,” he said.

Investors have been placing more weight on economic data releases that suggest economies that have reopened are making strides to emerge from a deep recession.

On Tuesday, the Commerce Department said sales of new U.S. homes jumped 16.6% in May to an annual rate of 676,000, exceeding Wall Street’s forecasts.

Further updates on the U.S. economy are expected toward the end of this week, when the government will issue data on consumer spending, weekly unemployment aid applications and durable goods orders.

The yield on the 10-year Treasury note rose to 0.72% from 0.70% late Monday. It tends to move with investors’ expectations for the economy and inflation.

Benchmark U.S. crude oil fell 9 cents to settle at $40.37 a barrel. Brent crude, the international standard, dropped 45 cents to close at 0.5% to $42.63 per barrel.

The market rally followed solid gains in Europe, where indexes marched higher after some encouraging economic data. France’s CAC 40 gained 1.4%, while Germany’s DAX rallied 2.1%. Britain’s FTSE 100 rose 1.2%.

Asian markets overcame some early turbulence caused by reported comments by White House trade adviser Peter Navarro that appeared to suggest the U.S. trade deal with China was in trouble. President Donald Trump later said the agreement was still on.


----------



## bigdog

Wall Street's recent rally hit a snag Wednesday as new coronavirus cases in the U.S. climbed to the highest level in two months, dimming investors’ hopes for a relatively quick economic turnaround.

The S&P 500 skidded 2.6%, shedding its gains for the week and leaving it nearly in the red for the month. The sell-off, which followed steep drops in European markets, accelerated around mid-morning on news that New York, New Jersey and Connecticut will require visitors from states with high infection rates to quarantine for 14 days.

Technology companies, which have been leading the market higher as it bounced back from a plunge in March, accounted for the biggest slice of the pullback. Financial, health care, communication services and industrial sector stocks also took heavy losses. Energy stocks fell the most as the price of oil dropped sharply.

Markets have been rallying recently on hopes that U.S. states and regions around the world could continue to lift the spring lockdowns put in place to slow the spread of the coronavirus. Economic data have been positive, helping fuel the cautious optimism. But the rise in new infections is stoking worries that the reopening of businesses may have to be curtailed again.

“We’ve created this optimistic trade over the last few weeks,” said J.J. Kinahan, chief strategist with TD Ameritrade. “Are we going to be able to get back to business as fast as it has been priced into equities?”

Cruise lines, which would stand to suffer greatly if travel restrictions are extended, were among the biggest losers in the S&P 500. Norwegian Cruise Line, Carnival and Royal Caribbean Cruises all fell more than 11%. Traders also hammered casino operators. Wynn Resorts lost 11% and MGM Resorts International dropped 8.3%. Shares in airlines slumped, too. Delta Air Lines slid 7.8%.

The S&P 500 dropped 80.96 points to 3,050.33. Despite the sharp sell-off, the S&P 500 is still on pace for its best quarter since the fourth quarter of 1998.

The Dow Jones Industrial Average lost 710.16 points, or 2.7%, to 25,445.94. The Nasdaq, which was coming off its second all-time high this week, fell 222.20 points, or 2.2%, to 9,909.17. Small company stocks fared worse than the rest of the market. The Russell 2000 index gave up 49.60 points, or 3.4%, to 1,389.74.

The market has been mostly in rally mode since April as investors focused on the prospects for an economic turnaround as broad areas of the economy reopened. Recently, some encouraging economic reports helped lift expectations that the reopening of businesses in the U.S. and elsewhere could pull the economy out of a deep recession sooner rather than later.

But the recent surge in new infections is undercutting some of that optimism. Coronavirus hospitalizations and caseloads have hit new highs in over a half-dozen U.S. states. New cases nationwide are back near their peak level of two months ago.

*ASX 200 to crash lower.*
The ASX 200 looks set to crash lower on Thursday after a very poor night of trade on Wall Street. According to the latest SPI futures, the benchmark index is poised to drop 95 points or 1.6% lower at the open. On Wall Street the Dow Jones sank 2.7%, the S&P 500 fell 2.6%, and the Nasdaq index tumbled 2.2%. Investors were selling U.S. stocks amid concerns over a spike in coronavirus cases.










https://www.usnews.com/news/busines...xed-after-us-rally-despite-rising-virus-fears

*Stocks Slide on Wall Street as New Coronavirus Cases Surge*
Stocks slumped on Wall Street after new coronavirus cases in the U.S. hit their highest level in two months, renewing worries that the economy may take longer to bounce back than investors had hoped.
By Associated Press, Wire Service Content June 24, 2020, at 4:39 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Wall Street's recent rally hit a snag Wednesday as new coronavirus cases in the U.S. climbed to the highest level in two months, dimming investors’ hopes for a relatively quick economic turnaround.

The S&P 500 skidded 2.6%, shedding its gains for the week and leaving it nearly in the red for the month. The sell-off, which followed steep drops in European markets, accelerated around mid-morning on news that New York, New Jersey and Connecticut will require visitors from states with high infection rates to quarantine for 14 days.

Technology companies, which have been leading the market higher as it bounced back from a plunge in March, accounted for the biggest slice of the pullback. Financial, health care, communication services and industrial sector stocks also took heavy losses. Energy stocks fell the most as the price of oil dropped sharply.

Markets have been rallying recently on hopes that U.S. states and regions around the world could continue to lift the spring lockdowns put in place to slow the spread of the coronavirus. Economic data have been positive, helping fuel the cautious optimism. But the rise in new infections is stoking worries that the reopening of businesses may have to be curtailed again.

“We’ve created this optimistic trade over the last few weeks,” said J.J. Kinahan, chief strategist with TD Ameritrade. “Are we going to be able to get back to business as fast as it has been priced into equities?”

Cruise lines, which would stand to suffer greatly if travel restrictions are extended, were among the biggest losers in the S&P 500. Norwegian Cruise Line, Carnival and Royal Caribbean Cruises all fell more than 11%. Traders also hammered casino operators. Wynn Resorts lost 11% and MGM Resorts International dropped 8.3%. Shares in airlines slumped, too. Delta Air Lines slid 7.8%.

The S&P 500 dropped 80.96 points to 3,050.33. Despite the sharp sell-off, the S&P 500 is still on pace for its best quarter since the fourth quarter of 1998.

The Dow Jones Industrial Average lost 710.16 points, or 2.7%, to 25,445.94. The Nasdaq, which was coming off its second all-time high this week, fell 222.20 points, or 2.2%, to 9,909.17. Small company stocks fared worse than the rest of the market. The Russell 2000 index gave up 49.60 points, or 3.4%, to 1,389.74.

The market has been mostly in rally mode since April as investors focused on the prospects for an economic turnaround as broad areas of the economy reopened. Recently, some encouraging economic reports helped lift expectations that the reopening of businesses in the U.S. and elsewhere could pull the economy out of a deep recession sooner rather than later.

But the recent surge in new infections is undercutting some of that optimism. Coronavirus hospitalizations and caseloads have hit new highs in over a half-dozen U.S. states. New cases nationwide are back near their peak level of two months ago.

While early hot spots like New York and New Jersey have seen cases steadily decrease, the virus has been hitting the south and west. Several states on Tuesday set single-day records, including Arizona, California, Mississippi, Nevada and Texas.

On Tuesday, Federal health officials told Congress to brace for a second wave of coronavirus infections in the fall and winter of this year.

“There’s the possibility of shutdowns, but probably more realistically delays in reopening," Kinahan said. “This puts doubt on how comfortable people will be getting on a plane or staying in hotels.”

Wednesday's sell-off may also reflect traders taking the opportunity to unload some stocks that have been big winners in the market's recent rally, said Tracie McMillion, head of global asset allocation strategy for Wells Fargo Investment Institute.

She expects the second half of the year to remain volatile for the market, citing the virus and uncertainty ahead of the U.S. election in November.

“Another concern is that we’re getting closer to earnings season,” McMillion said. “As we get closer, investors might start to get nervous that earnings and guidance could disappoint.”

Major stock indexes in Europe also fell broadly. Germany's DAX dropped 3.4%, while France’s CAC 40 slid 2.9%. Britain's FTSE 100 lost 3.1%. Markets in Asia closed mostly higher.

The yield on the 10-year Treasury note fell to 0.68% from 0.70% late Tuesday. It tends to move with investors’ expectations for the economy and inflation.

In energy trading, benchmark U.S. crude oil slid 5.8% to settle at $38.01 a barrel. Brent crude, the international standard, fell 5.4% to close at $40.31.


----------



## bigdog

Financial companies led stocks broadly higher on Wall Street Thursday as traders welcomed news that the Federal Reserve and other regulators are removing some limits on the ability of banks to make investments.

The S&P 500 climbed 1.1% following a jumpy day of trading. At one point, the index was down 0.9% before the rally strengthened toward the end of the day. The gains reversed some of the S&P 500's losses from a day earlier, when the market had its biggest drop in nearly two weeks.

Banks surged after the Fed and four regulatory agencies announced they’re going to change a rule that has limited banks’ ability to make investments in such areas as hedge funds. The rule change could free up billions of dollars in capital in the banking industry.

“It is potentially quite meaningful for the banks,” said Tony Roth, chief investment officer at Wilmington Trust.

Technology and health care stocks also helped lift the market, outweighing losses in utilities. Bond yields fell, a sign of caution in the market.

The Dow Jones Industrial Average rose 299.66 points, or 1.2%, to 25,745.60. The Nasdaq, which hit an all-time high earlier this week, gained 107.84 points, or 1.1%, to 10,017. The Russell 2000 index of small company stocks notched the biggest gain, climbing 23.57 points, or 1.7%, to 1,413.31.

The S&P 500 added 33.43 points to 3,083.76. The benchmark index is on pace for its best quarter since the fourth quarter of 1998.

Until this week, markets had been mostly rallying on hopes that U.S. states and regions around the world could continue to lift the spring lockdowns put in place to slow the spread of the coronavirus.

*ASX 200 expected to rebound strongly.*
The ASX 200 looks set to finish the week on a high after a strong night of trade on Wall Street. According to the latest SPI futures, the benchmark index is expected to open the day 69 points or 1.2% higher this morning. On Wall Street the Dow Jones rose 1.2%, the S&P 500 climbed 1.1%, and the Nasdaq index also rose 1.1%.











https://www.usnews.com/news/busines...-skid-as-new-coronavirus-cases-rattle-markets

*Banks Lead Gains for Stocks on Wall Street in Jumpy Trading*
Financial companies led stocks broadly higher on Wall Street Thursday as traders welcomed news that the Federal Reserve and other regulators are removing some limits on the ability of banks to make investments.
By Associated Press, Wire Service Content June 25, 2020, at 5:26 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Financial companies led stocks broadly higher on Wall Street Thursday as traders welcomed news that the Federal Reserve and other regulators are removing some limits on the ability of banks to make investments.

The S&P 500 climbed 1.1% following a jumpy day of trading. At one point, the index was down 0.9% before the rally strengthened toward the end of the day. The gains reversed some of the S&P 500's losses from a day earlier, when the market had its biggest drop in nearly two weeks.

Banks surged after the Fed and four regulatory agencies announced they’re going to change a rule that has limited banks’ ability to make investments in such areas as hedge funds. The rule change could free up billions of dollars in capital in the banking industry.

“It is potentially quite meaningful for the banks,” said Tony Roth, chief investment officer at Wilmington Trust.

Technology and health care stocks also helped lift the market, outweighing losses in utilities. Bond yields fell, a sign of caution in the market.

The Dow Jones Industrial Average rose 299.66 points, or 1.2%, to 25,745.60. The Nasdaq, which hit an all-time high earlier this week, gained 107.84 points, or 1.1%, to 10,017. The Russell 2000 index of small company stocks notched the biggest gain, climbing 23.57 points, or 1.7%, to 1,413.31.

The S&P 500 added 33.43 points to 3,083.76. The benchmark index is on pace for its best quarter since the fourth quarter of 1998.

Until this week, markets had been mostly rallying on hopes that U.S. states and regions around the world could continue to lift the spring lockdowns put in place to slow the spread of the coronavirus.

Recent economic data have been positive, helping fuel the cautious optimism. But a rise in new infections is stoking worries that the reopening of businesses may have to be curtailed again, delaying the economy’s recovery.

The Commerce Department said Thursday that the U.S. economy shrank at a 5% rate in the first three months of the year. A far worse decline is expected for the current quarter due to the pandemic. The Labor Department said another 1.5 million laid-off workers applied for unemployment benefits last week. That marks the 12th straight drop, a sign that layoffs are slowing, but remain at a painfully high level.

Macy’s slid 4.1% after the department store operator announced it is laying off 3,900 corporate staffers, or roughly 3% of its overall workforce, as the pandemic takes a financial toll on the retailer’s sales and profits. Like many of its non-essential peers, the retailer was forced to close its physical stores to curb the spread of the coronavirus, evaporating sales.

On a more encouraging note, the government said orders to American factories for big-ticket goods rebounded last month from a steep pullback in April and March as the economy began to slowly reopen.

The mixed data come amid growing alarm over a surge in cases of COVID-19. Hospitalizations and caseloads have hit new highs in over a half-dozen U.S. states, including California, Florida and Texas, where the governor on Thursday said the state would pause its aggressive reopening as it deals with a surge in cases and people in need of being hospitalized. The daily number of confirmed cases in the country closed in on the peak reached in late April.

“What we’re seeing is a lot of uncertainty over the significance of the spike in COVID-19 cases,” Roth said. “The market is trying to figure out what the impact this is going to have on consumer activity in coming months, and it’s not clear now because we don’t know how bad this spike is going to get.”

JPMorgan, Bank of America and Citigroup all rose more than 3% as investors cheered word that the Fed and other bank regulators have finalized a rule that will ease restrictions imposed by the Volcker Rule, which was part of the overhaul of banking regulation approved in the Dodd-Frank Act passed by Congress in 2010 in an effort to curtail excesses that had led to the 2008 financial crisis.

President Donald Trump had campaigned in 2016 on rolling back what he saw as excessive over-regulation of the banks that had weighed on the economy by preventing the banks from making loans to qualified borrowers.

After the close of regular trading, the Fed said it was ordering the nation's 34 biggest banks to suspend buybacks of their own stock and cap dividend payments until Sept. 30 so they can shore up their defenses in the event of a potentially damaging recession. The announcement came as part of the Fed's annual “stress tests,” which showed that in a worst-case scenario involving the U.S. economy being ravaged by the pandemic, the banks would collectively lose roughly $700 billion.

Bond yields fell. The yield on the 10-year Treasury note held at 68%. The yield tends to move with investors’ expectations for the economy and inflation.

In energy trading, benchmark U.S. crude oil rose 1.9% to settle at $38.72 a barrel. Brent crude, the international standard, gained 1.8% to $41.05 a barrel.

After broad losses in Asia overnight, markets closed higher in Europe. Germany’s DAX rose 0.7%, while the CAC 40 in Paris picked up 1%. London’s FTSE gained 0.4%.


----------



## bigdog

Stocks on Wall Street fell sharply Friday as confirmed new coronavirus infections in the U.S. hit an all-time high, prompting Texas and Florida to reverse course on the reopening of businesses.

The combination injected new jitters into a market that's been mostly riding high since April on hopes that the economy will recover from a deep recession as businesses open doors and Americans begin to feel more confident that they can leave their homes again.

The S&P 500 dropped 2.4%, giving up all of its gains after a rally the day before. The sell-off capped a choppy week of trading that erased the benchmark index's gains for the month. Even so, the S&P 500 is still on pace for its best quarter since 1998.

The surge in the number of confirmed new coronavirus cases prompted Texas and Florida to reverse course and clamp down on bars again. The two states join a small but growing list of those that are either backtracking or putting any further reopenings of their economies on hold because of a resurgence of the virus.

“That certainly calls into question how vigorous this recovery will be,” said Bill Northey, senior investment director at U.S. Bank Wealth Management. “We have to acknowledge there’s a high degree of uncertainty about how this is going to progress for the balance of the year.”

The S&P 500 fell 74.71 points to 3,009.05. The Dow Jones Industrial Average had its worst day in two weeks, losing 730.05 points, or 2.8%, to 25,015.55. The Nasdaq, which hit an all-time high earlier this week, dropped 259.78 points, or 2.6%, to 9,757.22.

Markets have been mostly rallying since April on hopes that U.S. states and regions around the world could continue to lift the spring lockdowns put in place to slow the spread of the coronavirus. The increase in cases casts doubt on expectations that the economy will continue to reopen and things can get back to normal sooner, rather than later.

The number of confirmed new coronavirus cases per day in the U.S. has hit an all-time high of 40,000, eclipsing the mark set during the deadliest stretch in late April. Deaths and hospitalizations have been rising in parts of the country, especially in the South and West.

The resurgence in the virus and the action by some governors to backtrack or at least pause the reopenings of their states undercut Wall Street’s optimism for a relatively swift economic turnaround.










https://www.usnews.com/news/busines...stocks-follow-wall-street-higher-on-bank-news

*Stocks Sink as Virus Cases Jump, Forcing States to Backtrack*
Stocks closed sharply lower on Wall Street as the number of confirmed new coronavirus cases in the U.S. hit an all-time high, stoking worries that the reopening of businesses investors have been banking on to revive the economy will be derailed.
By Associated Press, Wire Service Content June 26, 2020, at 5:35 p.m

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Stocks on Wall Street fell sharply Friday as confirmed new coronavirus infections in the U.S. hit an all-time high, prompting Texas and Florida to reverse course on the reopening of businesses.

The combination injected new jitters into a market that's been mostly riding high since April on hopes that the economy will recover from a deep recession as businesses open doors and Americans begin to feel more confident that they can leave their homes again.

The S&P 500 dropped 2.4%, giving up all of its gains after a rally the day before. The sell-off capped a choppy week of trading that erased the benchmark index's gains for the month. Even so, the S&P 500 is still on pace for its best quarter since 1998.

The surge in the number of confirmed new coronavirus cases prompted Texas and Florida to reverse course and clamp down on bars again. The two states join a small but growing list of those that are either backtracking or putting any further reopenings of their economies on hold because of a resurgence of the virus.

“That certainly calls into question how vigorous this recovery will be,” said Bill Northey, senior investment director at U.S. Bank Wealth Management. “We have to acknowledge there’s a high degree of uncertainty about how this is going to progress for the balance of the year.”

The S&P 500 fell 74.71 points to 3,009.05. The Dow Jones Industrial Average had its worst day in two weeks, losing 730.05 points, or 2.8%, to 25,015.55. The Nasdaq, which hit an all-time high earlier this week, dropped 259.78 points, or 2.6%, to 9,757.22.

Markets have been mostly rallying since April on hopes that U.S. states and regions around the world could continue to lift the spring lockdowns put in place to slow the spread of the coronavirus. The increase in cases casts doubt on expectations that the economy will continue to reopen and things can get back to normal sooner, rather than later.

The number of confirmed new coronavirus cases per day in the U.S. has hit an all-time high of 40,000, eclipsing the mark set during the deadliest stretch in late April. Deaths and hospitalizations have been rising in parts of the country, especially in the South and West.

The resurgence in the virus and the action by some governors to backtrack or at least pause the reopenings of their states undercut Wall Street’s optimism for a relatively swift economic turnaround.

“That has real implications for the pace where we can return to economic normalcy,” Northey said, adding that while some states are rolling back their reopening, it’s unlikely there will be a broad, nationwide lockdown.

The stock market is likely to remain volatile as traders weigh the ups and downs in the trajectory of the pandemic.

“In large part, we’re going to see some of these fits and starts,” said Charlie Ripley, senior investment strategist for Allianz Investment Management. “It’s going to weigh on sentiment to some extent, but overall we think the economy is on the mend and the recovery is on its the way."

Facebook slumped 8.3% as an advertising boycott aimed at pressuring the social networking giant into doing more to prevent racist and violent information from being shared on its service intensifies. Verizon announced it had joined the boycott Thursday, and on Friday European consumer-products maker Unilever, which makes Ben & Jerry's ice cream and Dove soap also said it would stop advertising on Facebook.

Financial companies were among the biggest decliners after the Federal Reserve ordered many of the nation’s biggest banks to suspend buybacks of their stock and cap dividend payments for several months.

Capital One Financial fell 8.8%, Goldman Sachs dropped 8.6% and JPMorgan lost 5.5%. The announcement came as part of the Fed’s annual “stress tests,” which showed that in a worst-case scenario involving the U.S. economy being ravaged by the pandemic, the banks would collectively lose roughly $700 billion.

Traders also dumped shares in Nike after the athletic apparel maker reported a big loss as most of its stores were forced to close. The stock slid 7.6%.

Bond yields were mixed. The yield on the 10-year Treasury note dropped to 0.65% from 0.67%, another sign of caution in the market. The yield tends to move with investors’ expectations for the economy and inflation.

Concern that a pullback in the reopening of businesses could hamper demand for energy helped pull down oil prices Friday. Benchmark U.S. crude oil for August delivery fell 23 cents to settle at $38.49 a barrel. Brent crude oil for August delivery fell 3 cents to $41.02 a barrel.

Major indexes in Europe closed mostly lower, and Asian markets finished mostly higher.

0168


----------



## bigdog

*ASX 200 set to fall heavily.*
The ASX 200 looks set to fall heavily on Monday after a selloff on Wall Street on Friday. According to the latest SPI futures, the benchmark index is expected to open the week 91 points or 1.55% lower. On Wall Street the Dow Jones fell 2.8%, the S&P 500 dropped 2.4%, and the Nasdaq index tumbled 2.6%. A spike in coronavirus cases weighed on investor sentiment.


----------



## bigdog

Stocks shrugged off a wobbly start to finish solidly higher on Wall Street Monday, as the market clawed back half its losses from last week.

The S&P 500 rose 1.5% after having been down 0.3%. The market rallied after a much healthier-than-expected report on the housing market put investors in a buying mood. Technology, industrial and communications stocks accounted for much of the market's broad gains. European stocks also closed higher. Treasury yields were mixed and oil prices rose.

Gains for Boeing and Apple in particular helped to lift Wall Street indexes. Boeing jumped 14.4%, its best day in more than two months. The company's troubled 737 Max jet looks set to begin test flights soon. Apple added 2.3% as customers keep buying its products regardless of whether they’re quarantined.

The pickup in U.S. stocks after a weekly loss marks the latest choppy move for markets around the world, which have been swinging back and forth in recent weeks as investors balance hope for a relatively quick economic rebound as more businesses reopen against worry as an increase in confirmed new coronavirus cases forces some businesses to close their doors again.

“It’s just another day of normal volatility, its unfortunately what we’re living with now,” said Mark Litzerman, head of global portfolio management at Wells Fargo Investment Institute. “It tends to be this tug of war between better economic data coming through versus a rise in cases."

The S&P 500 gained 44.19 points to 3,053.24. The Dow Jones Industrial Average rose 580.25 points, or 2.3%, to 25,595.80. The Nasdaq composite added 116.93 points, or 1.2%, to 9,874.15.

Stocks of smaller companies also jumped more than the rest of the market, which often happens when investors are feeling more optimistic about the economy. The Russell 2000 index of small-cap stocks picked up 42.43 points, or 3.1%, to 1,421.21. The index made up for all of its loss from last week.

A rise in infections of the new coronavirus, including in the U.S. South and West, has dented the optimism that earlier sent the S&P 500 screaming nearly all the way back to the record it reached in February.

The worry is that the worsening levels could choke off the budding improvements the economy has shown recently as states and other governments ease up on lockdown orders, even with the Federal Reserve and other central banks pumping unprecedented amounts of aid into the economy.

*ASX 200 set to rebound.*
The ASX 200 looks set to rebound strongly on Tuesday. According to the latest SPI futures, the benchmark index is expected to open the day 73 points or 1.25% higher. This follows a positive start to the week on Wall Street, which saw the Dow Jones jump 2.3%, the S&P 500 climb 1.5%, and the Nasdaq index rise 1.2%.










https://www.usnews.com/news/busines...lide-following-wall-st-selloff-on-virus-fears

*Wall Street Stocks Claw Back a Chunk of Last Week's Losses*
Stocks closed higher on Wall Street Monday, clawing back half of their losses from last week.
By Associated Press, Wire Service Content June 29, 2020, at 4:43 p.m.

By STAN CHOE, ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Stocks shrugged off a wobbly start to finish solidly higher on Wall Street Monday, as the market clawed back half its losses from last week.

The S&P 500 rose 1.5% after having been down 0.3%. The market rallied after a much healthier-than-expected report on the housing market put investors in a buying mood. Technology, industrial and communications stocks accounted for much of the market's broad gains. European stocks also closed higher. Treasury yields were mixed and oil prices rose.

Gains for Boeing and Apple in particular helped to lift Wall Street indexes. Boeing jumped 14.4%, its best day in more than two months. The company's troubled 737 Max jet looks set to begin test flights soon. Apple added 2.3% as customers keep buying its products regardless of whether they’re quarantined.

The pickup in U.S. stocks after a weekly loss marks the latest choppy move for markets around the world, which have been swinging back and forth in recent weeks as investors balance hope for a relatively quick economic rebound as more businesses reopen against worry as an increase in confirmed new coronavirus cases forces some businesses to close their doors again.

“It’s just another day of normal volatility, its unfortunately what we’re living with now,” said Mark Litzerman, head of global portfolio management at Wells Fargo Investment Institute. “It tends to be this tug of war between better economic data coming through versus a rise in cases."

The S&P 500 gained 44.19 points to 3,053.24. The Dow Jones Industrial Average rose 580.25 points, or 2.3%, to 25,595.80. The Nasdaq composite added 116.93 points, or 1.2%, to 9,874.15.

Stocks of smaller companies also jumped more than the rest of the market, which often happens when investors are feeling more optimistic about the economy. The Russell 2000 index of small-cap stocks picked up 42.43 points, or 3.1%, to 1,421.21. The index made up for all of its loss from last week.

A rise in infections of the new coronavirus, including in the U.S. South and West, has dented the optimism that earlier sent the S&P 500 screaming nearly all the way back to the record it reached in February.

The worry is that the worsening levels could choke off the budding improvements the economy has shown recently as states and other governments ease up on lockdown orders, even with the Federal Reserve and other central banks pumping unprecedented amounts of aid into the economy.

Florida and Texas put new restrictions on bars to slow the spread of the virus, for example, which helped drive the S&P 500 to a loss of 2.9% last week. Other government around the world are likewise backtracking on efforts to reopen their economies following widespread lockdowns that sent the global economy into a sudden, severe recession.

To see how sharply the economy is swinging, consider Monday's report on the housing market. It showed that the number of Americans signing contracts to buy homes rose a record 44.3% in May from a month earlier. That was more than double the 17% rise that economists were expecting. It was also a whiplash reversal from the record-breaking plunge of nearly 22% that came in April as the pandemic froze the housing market.

The encouraging housing report is likely a sign of pent up demand, considering that spring is the key season for home sales and it was delayed mostly until summer, Litzerman said.

“It is good to see that people are out there buying again,” he said. “The biggest thing is how quickly the consumer comes back and how do they come back.”

Given all the uncertainty about the path for the economy and corporate profits, many professional investors say the only sure thing for markets is that upcoming movements will likely be volatile. The second quarter of the year is set to close out Tuesday, and the S&P 500 is on pace for a gain of more than 18.1%, which would be its best since late 1998. Of course, that follows the U.S. stock market’s loss of nearly 20% in the first quarter, which was its worst since the bottom of the 2008 financial crisis.

The market's gains were widespread Monday, with industrial companies and raw-material producers jumping the highest. Homebuilders also helped lift the market. Hovnanian Enterprises surged 11.9%.

Shopping mall owner Simon Property Group jumped 10.1%. Its shares have risen and fallen for months with expectations of whether people will be able to get closer to “normal” activity.

Stocks of airlines, whose profits are also excruciatingly tied to a reopening economy, were also strong. Southwest Airlines gained 9.6%, American Airlines Group and Alaska Air Group each climbed 7.6%.

Facebook rose 2.1% after shaking off a loss earlier in the morning. It's facing a defection of advertisers tired of the racist and violent posts spreading through the social network. Starbucks on Sunday joined the list of big companies saying it will pause its advertising on social media.

The yield on the 10-year Treasury held steady at 0.63%.

Oil prices rose. Benchmark U.S. crude oil for August delivery rose $1.21 to settle at $39.70 a barrel. Brent crude oil for August delivery rose 69 cents to $41.71 a barrel.


----------



## bigdog

Wall Street capped its best quarter since 1998 Tuesday with more gains, a fitting end to a stunning three months for investors as the market screamed back toward its record heights after a torrid plunge.

The S&P 500 climbed 1.5%, bringing its gain for the quarter to nearly 20%. That rebound followed a 20% drop in the first three months of the year, the market's worst quarter since the 2008 financial crisis. The plunge came as the coronavirus pandemic ground the economy to a halt and millions of people lost their jobs.

“It's the first time you've had back-to-back (quarters) like this since the 1930s,” said Willie Delwiche, investment strategist at Baird. “It's pretty unprecedented.”

The whiplash that ripped through markets in the second quarter came as investors became increasingly hopeful that the economy can pull out of its severe, sudden recession relatively quickly. The hopes looked prescient after reports during the quarter showed that the job market swung back to growth and retail sales rebounded as governments relaxed lockdown orders meant to slow the spread of the coronavirus.

Stocks built on gains made toward the tail end of the first quarter, when promises of massive amounts of aid from the Federal Reserve and Capitol Hill helped put a floor under the market. Low interest rates generally push investors toward stocks and away from the low payments made by bonds, and the Federal Reserve has pinned short-term interest rates at their record low of nearly zero.

But most of Wall Street says not to expect anything close to a repeat of the rocking second quarter. A rise in infections has several states pausing their lifting of restrictions. The surge in confirmed new cases, which has prompted the European Union to bar U.S. travelers from entry, is seeding doubts that the economic recovery can happen as quickly as markets had forecast.

On Tuesday Dr. Anthony Fauci, the nation’s top infectious-disease expert, warned that the number of daily new reported infections could surge to 100,000 if Americans don’t start following public health recommendations.

Beyond the coronavirus, analysts also point to the upcoming U.S. elections and other risks that could upset markets. If Democrats sweep Capitol Hill and the White House, which many investors see as at least possible, it could mean higher tax rates, which could weaken corporate profits.

The S&P 500 gained 47.05 points to 3,100.29 on Tuesday. The Dow Jones Industrial Average rose 217.08 points, or 0.9%, to 25,812.88. It had briefly been down 120 points. The Nasdaq composite climbed 184.61 points, or 1.9%, to 10,058.77.

The S&P 500 has rallied back to within nearly 8.4% of its record set in February, after being down nearly 34% in late March. At one point earlier this month, it had climbed as close as 4.5%.

Technology, health care and financial companies powered much of the market’s broad gains Friday. The buying accelerated after a report showed stronger-than-expected improvement in consumer confidence this month.

“Broadly speaking, the market is reacting to economic data that is better than expected,” said Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management.

*ASX 200 expected to open lower.*
The ASX 200 looks set to edge lower on Wednesday despite solid gains on Wall Street. According to the latest SPI futures, the benchmark index is poised to fall 6 points or 0.1% at the open. Over in the United States the Dow Jones is up 0.85%, the S&P 500 rose 1.5%, and the Nasdaq index pushed a sizeable 1.9% higher.










https://www.usnews.com/news/busines...-rise-after-wall-st-rally-strong-housing-data

*Stocks Close Out Best Quarter Since 1998 With More Gains*
*Wall Street closed out its best quarter since 1998 with more gains Tuesday but still well below the record high it reached in February, before devastating lockdowns were put in place to fight the coronavirus.*
By Associated Press, Wire Service Content June 30, 2020, at 4:46 p.m.

By STAN CHOE, ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Wall Street capped its best quarter since 1998 Tuesday with more gains, a fitting end to a stunning three months for investors as the market screamed back toward its record heights after a torrid plunge.

The S&P 500 climbed 1.5%, bringing its gain for the quarter to nearly 20%. That rebound followed a 20% drop in the first three months of the year, the market's worst quarter since the 2008 financial crisis. The plunge came as the coronavirus pandemic ground the economy to a halt and millions of people lost their jobs.

“It's the first time you've had back-to-back (quarters) like this since the 1930s,” said Willie Delwiche, investment strategist at Baird. “It's pretty unprecedented.”

The whiplash that ripped through markets in the second quarter came as investors became increasingly hopeful that the economy can pull out of its severe, sudden recession relatively quickly. The hopes looked prescient after reports during the quarter showed that the job market swung back to growth and retail sales rebounded as governments relaxed lockdown orders meant to slow the spread of the coronavirus.

Stocks built on gains made toward the tail end of the first quarter, when promises of massive amounts of aid from the Federal Reserve and Capitol Hill helped put a floor under the market. Low interest rates generally push investors toward stocks and away from the low payments made by bonds, and the Federal Reserve has pinned short-term interest rates at their record low of nearly zero.

But most of Wall Street says not to expect anything close to a repeat of the rocking second quarter. A rise in infections has several states pausing their lifting of restrictions. The surge in confirmed new cases, which has prompted the European Union to bar U.S. travelers from entry, is seeding doubts that the economic recovery can happen as quickly as markets had forecast.

On Tuesday Dr. Anthony Fauci, the nation’s top infectious-disease expert, warned that the number of daily new reported infections could surge to 100,000 if Americans don’t start following public health recommendations.

Beyond the coronavirus, analysts also point to the upcoming U.S. elections and other risks that could upset markets. If Democrats sweep Capitol Hill and the White House, which many investors see as at least possible, it could mean higher tax rates, which could weaken corporate profits.

The S&P 500 gained 47.05 points to 3,100.29 on Tuesday. The Dow Jones Industrial Average rose 217.08 points, or 0.9%, to 25,812.88. It had briefly been down 120 points. The Nasdaq composite climbed 184.61 points, or 1.9%, to 10,058.77.

The S&P 500 has rallied back to within nearly 8.4% of its record set in February, after being down nearly 34% in late March. At one point earlier this month, it had climbed as close as 4.5%.

Technology, health care and financial companies powered much of the market’s broad gains Friday. The buying accelerated after a report showed stronger-than-expected improvement in consumer confidence this month.

“Broadly speaking, the market is reacting to economic data that is better than expected,” said Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management.

Schutte said the market is being supported by the likelihood that there won’t be a nationwide shutdown again, aggressive monetary policy and hopes for a vaccine sooner rather than later. “The path of least resistance is still two steps forward, one step back,” he said.

Crude oil has had a similar rebound as stocks through the second quarter, though it’s still well below where it was before the pandemic struck.

A barrel of U.S. crude oil slid 43 cents to settle at $39.27 Tuesday, but it’s still nearly double where it was at the end of the first quarter. It’s also in a different world from April, when prices in one corner of the U.S. crude market briefly went below zero amid worries that collapsing demand would leave nowhere to store all the unused oil. Brent crude oil fell 56 cents to settle at $41.15 a barrel.

The yield on the 10-year Treasury rose to 0.66% from 0.63% late Monday. It too has rallied back from its lows when recession worries were at their height. It set a record low in March when it briefly dipped below 0.50%, according to Tradeweb. The yield tends to move with investors' expectations for the economy and inflation.

European stocks closed mixed, and Asian markets finished higher.


----------



## PZ99

Thanks for that bigdog. HB


----------



## bigdog

Stock indexes ended mixed on Wall Street Wednesday, even as the market extended its winning streak to a third day and gains in technology companies pushed the Nasdaq to an all-time high.

The S&P 500 rose 0.5%, coming off the heels of a whiplash start to the year where its worst quarterly performance since 2008 gave way to its best quarter since 1998. Treasury yields and the price of oil rose. Stocks in Europe fell, while markets in Asia ended mixed.

Encouraging reports on the U.S. economy helped nudge the market higher. Investors continue to balance signs that the economy is improving after grinding nearly to a halt in the spring due to the coronavirus pandemic against worry that the number of new confirmed infections is surging in parts of the U.S. and other hotspots around the globe.

“There’s this tug-of-war going on between an improving economy and a reminder that we don’t have a vaccine yet, and we’re getting a second wave of infections in some parts of the country," said Phil Orlando, chief equity strategist at Federated Hermes. “The question is which one of these two competing narratives are going to win?”

The S&P 500 gained 15.57 points to 3,115.86. The Nasdaq composite, which is heavily weighted with technology companies, climbed 95.86 points, or 1%, to 10,154.63, a record high.

The Dow Jones Industrial Average fell 77.91 points, or 0.3%, to 25,734.97. The index drifted between a gain of 206 points and a loss of 99 points. Small company stocks also fell. The Russell 2000 index dropped 14.05 points, or 1%, to 1,427.31.

Markets around the world roared back last quarter on hopes that economies are beginning to pull out of the severe, sudden recession that struck after governments shut down businesses in hopes of slowing the spread of the coronavirus. But a recent resurgence of COVID-19 cases, particularly in the U.S. South and West, has raised doubts about whether those hopes were premature or overdone.

In the United States, a report said that the manufacturing sector returned to growth last month, a much better reading than the slight contraction that economists were expecting.

*ASX 200 expected to push higher.*
It looks set to be another positive day of trade for the ASX 200. According to the latest SPI futures, the benchmark index is poised to rise 40 points or 0.7% at the open. This follows a reasonably positive night of trade on Wall Street. Although the Dow Jones fell 0.3%, the S&P 500 rose 0.5% and the Nasdaq jumped 0.95%. The latter index closed at a record high.











https://www.usnews.com/news/busines...-after-wall-st-closes-best-quarter-since-1998

*S&P 500 Index Notches Another Gain on a Mixed Day for Stocks*
Stocks wound up with a mixed finish on Wall Street, even as gains for technology stocks pushed the Nasdaq to another record close.
By Associated Press, Wire Service Content July 1, 2020, at 5:06 p.m. 

By STAN CHOE and ALEX VEIGA, AP Business Writers

Stock indexes ended mixed on Wall Street Wednesday, even as the market extended its winning streak to a third day and gains in technology companies pushed the Nasdaq to an all-time high.

The S&P 500 rose 0.5%, coming off the heels of a whiplash start to the year where its worst quarterly performance since 2008 gave way to its best quarter since 1998. Treasury yields and the price of oil rose. Stocks in Europe fell, while markets in Asia ended mixed.

Encouraging reports on the U.S. economy helped nudge the market higher. Investors continue to balance signs that the economy is improving after grinding nearly to a halt in the spring due to the coronavirus pandemic against worry that the number of new confirmed infections is surging in parts of the U.S. and other hotspots around the globe.

“There’s this tug-of-war going on between an improving economy and a reminder that we don’t have a vaccine yet, and we’re getting a second wave of infections in some parts of the country," said Phil Orlando, chief equity strategist at Federated Hermes. “The question is which one of these two competing narratives are going to win?”

The S&P 500 gained 15.57 points to 3,115.86. The Nasdaq composite, which is heavily weighted with technology companies, climbed 95.86 points, or 1%, to 10,154.63, a record high.

The Dow Jones Industrial Average fell 77.91 points, or 0.3%, to 25,734.97. The index drifted between a gain of 206 points and a loss of 99 points. Small company stocks also fell. The Russell 2000 index dropped 14.05 points, or 1%, to 1,427.31.

Markets around the world roared back last quarter on hopes that economies are beginning to pull out of the severe, sudden recession that struck after governments shut down businesses in hopes of slowing the spread of the coronavirus. But a recent resurgence of COVID-19 cases, particularly in the U.S. South and West, has raised doubts about whether those hopes were premature or overdone.

In the United States, a report said that the manufacturing sector returned to growth last month, a much better reading than the slight contraction that economists were expecting.

Earlier, a separate report suggested private employers hired more workers than they cut in June. Payroll processor ADP also revised its previously reported numbers for May, saying that private employers actually added nearly 3.1 million jobs that month instead of cutting 2.8 million.

But the June growth in ADP’s payroll report wasn’t as strong as economists expected. The U.S. government’s more comprehensive monthly jobs report will arrive Thursday.

“As we look forward, we think April represented the bottom of the cycle,” said Orlando. “The economic numbers have been materially better in May and June, and we think that the trend continues in the third quarter. The problem with that narrative is this wave of infections we’ve seen in the Southern and Western states. That’s something troubling.”

In the world's third-largest economy, a quarterly Bank of Japan survey showed manufacturers’ sentiment plunged to its lowest level in more than a decade, as the pandemic crushes exports and tourism.

But in the world’s second-largest economy, a separate survey showed China’s manufacturing activity improved in June, adding to signs of a gradual recovery. A similar survey for the 19-country eurozone showed an improvement in manufacturing in June, with the industry almost growing again after widespread shutdowns.

Analysts said that while the data pointed in the right direction, it shows that an economic recovery from the pandemic will be slow.

Communication sector stocks, which have benefited as people stuck at home spend more time online, helped lift the market Wednesday, offsetting losses in financial, energy and industrial companies. Netflix rose 5.7% and Facebook gained 4.6%. Amazon led the way higher among companies that rely on consumer spending. The stock climbed 4.4%.

Health care stocks also rose. Pfizer gained 4.6% after it and German biotech company BioNTech announced encouraging, preliminary data on their COVID-19 vaccine candidate.

Meanwhile, Tesla surpassed Toyota as the most valuable global auto company. Shares in the electric car and solar panel maker rose 3.7%. Toyota sold more than 10.7 million vehicles worldwide last year, while Tesla sold only a fraction of that at 367,500.

The yield on the 10-year Treasury rose to 0.68% from 0.65% late Tuesday. It tends to move with investors' expectations for the economy and inflation.

Benchmark U.S. crude oil for August delivery rose 55 cents to settle at $39.82 a barrel. Brent crude oil for September delivery rose 76 cents to $42.03 a barrel.

Asian markets ended mixed. In Europe, France’s CAC 40 dropped 0.2% and Germany’s DAX lost 0.4%. The FTSE 100 in London fell 0.2%.


----------



## bigdog

*U.S. markets will be closed Friday in observance of Independence Day.*

Stocks closed broadly higher on Wall Street Thursday as investors welcomed a report showing the U.S. job market continues to climb out of the crater created by the coronavirus pandemic.

The S&P 500 rose 0.5%, its fourth-straight gain. The index ended the holiday-shortened week with a gain of 4%. The Nasdaq composite climbed to another all-time high, aided by more gains in technology companies. Energy companies notched some of the biggest gains as oil prices strengthened on hopes that a recovering economy will mean more demand.

The rally wasn't impervious to worries about the virus outbreak. News that Florida had another sharp increase in confirmed cases helped cut the S&P 500′s early gains by more than half. The bond market also signaled caution, as yields moved broadly lower.

A recent surge in new confirmed cases of the coronavirus in Florida, Texas and several other states has led some governors to halt the reopening of their economies or to order some businesses, such as restaurants and bars, to reclose. That has dimmed some of the optimism for a relatively quick economic turnaround, especially for travel-related sectors like cruise lines.

Even so, investors continue to bet that the recovery will proceed, despite the worrying rise in new cases.

“Right now, I don’t see a national outbreak coming, I don’t see a national shutdown,” said Brad McMillan, chief investment officer for Commonwealth Financial Network. “The risks are still there, but the market has kind of already taken that into account.”

The S&P 500 rose 14.15 points to 3,130.01. The Dow Jones Industrial Average gained 92.39 points, or 0.4%, to 25,827.36. The Nasdaq climbed 53 points, or 0.5%, to 10,207.63. The Russell 2000 index of small company stocks also rose, adding 4.55 points, or 0.3%, to 1,431.86. Markets in Europe and Asia also closed broadly higher.

The indexes were up even more at the start of the day's trading, after the U.S. government said employers added 4.8 million jobs to their payrolls in June for the second-straight month of growth. The unemployment rate remains very high at 11.1%, but last month’s improvement was much better than economists expected.

*ASX 200 expected to rise again.*
The ASX 200 looks set to end the week on a high on Friday. According to the latest SPI futures, the benchmark index is expected to rise 36 points or 0.6% at the open. This follows a solid night of trade on Wall Street which saw the Dow Jones rise 0.35%, the S&P 500 climb 0.45%, and the Nasdaq push 0.5% higher. U.S. equities pushed higher after a better than expected U.S. jobs report.










https://www.usnews.com/news/busines...ks-follow-wall-street-higher-on-vaccine-hopes

*Stocks Rise on Jobs Data, S&P 500 Ends Week With Solid Gain*
Stocks closed higher Thursday after a report showed the U.S. job market continues to climb out of the crater created by the coronavirus pandemic in the spring.
By Associated Press, Wire Service Content July 2, 2020, at 4:51 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Stocks closed broadly higher on Wall Street Thursday as investors welcomed a report showing the U.S. job market continues to climb out of the crater created by the coronavirus pandemic.

The S&P 500 rose 0.5%, its fourth-straight gain. The index ended the holiday-shortened week with a gain of 4%. The Nasdaq composite climbed to another all-time high, aided by more gains in technology companies. Energy companies notched some of the biggest gains as oil prices strengthened on hopes that a recovering economy will mean more demand.

The rally wasn't impervious to worries about the virus outbreak. News that Florida had another sharp increase in confirmed cases helped cut the S&P 500′s early gains by more than half. The bond market also signaled caution, as yields moved broadly lower.

A recent surge in new confirmed cases of the coronavirus in Florida, Texas and several other states has led some governors to halt the reopening of their economies or to order some businesses, such as restaurants and bars, to reclose. That has dimmed some of the optimism for a relatively quick economic turnaround, especially for travel-related sectors like cruise lines.

Even so, investors continue to bet that the recovery will proceed, despite the worrying rise in new cases.

“Right now, I don’t see a national outbreak coming, I don’t see a national shutdown,” said Brad McMillan, chief investment officer for Commonwealth Financial Network. “The risks are still there, but the market has kind of already taken that into account.”

The S&P 500 rose 14.15 points to 3,130.01. The Dow Jones Industrial Average gained 92.39 points, or 0.4%, to 25,827.36. The Nasdaq climbed 53 points, or 0.5%, to 10,207.63. The Russell 2000 index of small company stocks also rose, adding 4.55 points, or 0.3%, to 1,431.86. Markets in Europe and Asia also closed broadly higher.

The indexes were up even more at the start of the day's trading, after the U.S. government said employers added 4.8 million jobs to their payrolls in June for the second-straight month of growth. The unemployment rate remains very high at 11.1%, but last month’s improvement was much better than economists expected.

The pandemic has made collecting data on the economy unusually difficult, which leaves economists uncertain about the numbers' accuracy. But they say it’s clear that the job market is improving after collapsing in the spring amid widespread shutdowns. That bolsters investors' hopes that the economy can recover from its recession relatively quickly as governments relax restrictions.

Such hopes have lifted the S&P 500 to within roughly 8% of the record set in February, after an earlier drop of nearly 34% when recession worries peaked.

“We’re starting to see the real economic data say, ‘Yes, the recovery is here, and it’s real,’” McMillan said.

The next step, he said, is to see the job gains translate into lasting growth for workers' incomes and for how much they spend.

The market's morning gains began to fade after Florida reported more than 10,000 new confirmed cases for the first time. It underlined how fragile the recovery is, and the bond market was also showing more caution than stocks as Treasury yields ticked lower.

Many workers across the country are still experiencing economic pain, with only about a third of the 22 million jobs lost to the recession recovered so far. And worries are rising that worsening levels of infections in not just Florida but across swaths of the U.S. South and West could choke off the budding economic improvements. Such concerns have held the market in check since early June following a months-long rocket ride.

Thursday's reports on the economy also weren't uniformly encouraging. The number of workers filing for unemployment benefits last week dipped by less than economists expected, for example. The number of workers continuing to get jobless claims was also higher than expected.

Stocks nevertheless moved higher Thursday. Oil companies, raw-material producers and other companies whose profits are very closely tied to the strength of the economy had the market's biggest gains.

Materials stocks in the S&P 500 rose 1.9%, the biggest gain among the 11 sectors that make up the index. Vulcan Materials led the pack, adding 4.2%. Energy stocks also notched solid gains. Noble Energy jumped 7.8%.

The energy stocks benefited from hopes that a recovering economy will restore some of the demand for oil that vanished in the spring as people stopped driving, airplanes were left parked in the desert and factories went idle. Benchmark U.S. crude oil for August delivery rose 83 cents to settle at $40.65 a barrel. Brent crude oil for September delivery rose $1.11 to $43.14 a barrel.

Bond investors showed less enthusiasm, though. The yield on the 10-year Treasury note dipped to 0.67% from 0.68% late Wednesday. It tends to move with investors’ expectations for the economy and inflation.

U.S. markets will be closed Friday in observance of Independence Day.


----------



## bigdog

*U.S. markets were closed Friday in observance of Independence Day.*





*Rest of World Trading Friday June 3








*
https://www.usnews.com/news/busines...hares-advance-following-upbeat-us-jobs-report
*
World Stocks Mostly Dip With US Closed for Holiday*
World stock markets dipped in Europe after gains in Asia.
By Associated Press, Wire Service Content July 3, 2020, at 12:47 p.m.

By ELAINE KURTENBACH, AP Business Writer

World stock markets fell slightly in Europe on Friday after gains in Asia, with trading somewhat subdued by a long holiday weekend in the U.S.

With Wall Street remaining closed in observance of Independence Day, Germany's DAX edged 0.6% lower to 12,528.18. The CAC 40 in Paris dropped 0.8% to 5,007.14, while Britain's FTSE closed down 1.3% at 6,157.30.

Markets had risen earlier in Asia as investors there got their first opportunity to react to the stronger-than-expected U.S. jobs figures released on Thursday.

The jobs data and improved global indicators boosted sentiment, albeit momentarily, along with positive reports on potential vaccines and treatments for the coronavirus that has infected more than 10.8 million people and killed over 520,000, according to data from Johns Hopkins University that experts say understates the tally due to issues with testing and asymptomatic cases.

The U.S. government said employers added 4.8 million jobs to their payrolls in June for the second-straight month of growth. The unemployment rate remains very high at 11.1%, but last month’s improvement was much better than economists expected.

The pandemic makes collecting data on the economy unusually difficult, but economists say it’s clear that the job market is improving after collapsing in the spring amid widespread shutdowns.

Tokyo’s Nikkei 225 index picked up 0.7% to 22,306.48, while the Shanghai Composite index gained 62.24 points to 3,152.81, its highest close since April 2019. In South Korea, the Kospi gained 0.8% to 2,152.41. Australia’s S&P/ASX 200 rose 0.4% to 6,057.90. India’s Sensex added 0.4% and shares also rose in Taiwan and Southeast Asia.

Overnight, the S&P 500 rose 0.5%, its fourth-straight gain, ending the holiday-shortened week with a gain of 4%.

A recent surge in new confirmed cases of the coronavirus in Florida, Texas and several other states has led some governors to halt the reopening of their economies or to order some businesses, such as restaurants and bars, to re-close. That has dimmed some of the optimism for a relatively quick economic turnaround, especially for travel-related sectors like cruise lines.

In other trading, benchmark U.S. crude oil for August delivery slipped 37 cents to $40.28 per barrel in electronic trading on the New York Mercantile Exchange. It rose 83 cents Thursday to settle at $40.65 a barrel. Brent crude oil for September delivery dropped 29 cents to $42.85 a barrel.

In currency dealings, the dollar edged up, to 107.52 Japanese yen from 107.50 yen. The euro edged up to $1.1243 from $1.1236.

452


*
*


----------



## bigdog

*ASX 200 set to edge lower.*
The ASX 200 looks set to give back some of its gains on Monday. According to the latest SPI futures, the benchmark index is expected to open the week 35 points or 0.6% lower this morning. Wall Street was closed on Friday for the Independence Day holiday. In Europe the Dax fell 0.65% and the FTSE tumbled 1.3% lower after coronavirus cases jumped again.


----------



## over9k

Yeah AU virus cases are up, U.S virus cases are up, and U.S futures are down so it makes sense. 

Victoria's just pushed everything back an extra month or so.


----------



## bigdog

Stocks rallied worldwide on Monday as investors bet that the economy can continue its dramatic turnaround despite all the challenges ahead.

The S&P 500 rose 1.6%, following up on similar gains in Europe and Asia, and clawed back to within 6.1% of its record set in February. The headliner was China’s stock market, which leaped 5.7% for its biggest gain since 2015, when it was in the midst of a bubble bursting. Treasury yields also ticked higher in a signal of growing optimism after reports showed improvements in the U.S. and European economies.

Stocks of the biggest companies once again led the way, and strength for Apple, Amazon and other tech-oriented titans helped lift the Nasdaq composite 226.02 points, or 2.2%, to close at a record high of 10,433.65.

The Dow Jones Industrial Average rose 459.67 points, or 1.8%, to 26,287.03. The S&P 500 rose 49.71 points to 3,179.72 for its third gain of at least 1.5% in the last five days.

They’re the latest buoyant moves for markets, where investors are focusing more on recent improvements in the economy and all the stimulus that central banks and governments are supplying than on how much pain still remains. Investors are also continuing to sidestep the mounting number of known coronavirus infections, at least for now.

“The economic damage isn’t going to be as dire and severe as was initially predicted,” said Peter Essele, head of portfolio management for Commonwealth Financial Network. “That helps explain the rebound.”

The worry is that if the pandemic keeps worsening, with hotspots stretching across the U.S. South and West, it could scare shoppers and businesses away from spending. The worst-case scenario for markets is that governments resume lockdowns implemented during the spring and choke off the budding economic recovery. Either way, many economists expect the global economy to take years before returning to its output from before the pandemic.

*ASX 200 expected to rebound.*
It looks set to be a more positive day of trade for the ASX 200 on Tuesday. According to the latest SPI futures, the benchmark index is expected to open 29 points or 0.5% higher this morning. This follows a very positive start to the week on Wall Street, which saw the Dow Jones rise 1.8%, the S&P 500 climb 1.6%, and the Nasdaq jump 2.2%. Tech shares played a key role in driving these indices higher.










https://www.usnews.com/news/busines...ks-rise-as-investors-look-ahead-to-weeks-data

*Markets Swell Around the World; Nasdaq Sets Another Record*
Stocks rallied worldwide on Monday as investors bet that the economy can continue its dramatic turnaround despite all the challenges ahead.
By Associated Press, Wire Service Content July 6, 2020, at 4:32 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — Stocks rallied worldwide on Monday as investors bet that the economy can continue its dramatic turnaround despite all the challenges ahead.

The S&P 500 rose 1.6%, following up on similar gains in Europe and Asia, and clawed back to within 6.1% of its record set in February. The headliner was China’s stock market, which leaped 5.7% for its biggest gain since 2015, when it was in the midst of a bubble bursting. Treasury yields also ticked higher in a signal of growing optimism after reports showed improvements in the U.S. and European economies.

Stocks of the biggest companies once again led the way, and strength for Apple, Amazon and other tech-oriented titans helped lift the Nasdaq composite 226.02 points, or 2.2%, to close at a record high of 10,433.65.

The Dow Jones Industrial Average rose 459.67 points, or 1.8%, to 26,287.03. The S&P 500 rose 49.71 points to 3,179.72 for its third gain of at least 1.5% in the last five days.

They’re the latest buoyant moves for markets, where investors are focusing more on recent improvements in the economy and all the stimulus that central banks and governments are supplying than on how much pain still remains. Investors are also continuing to sidestep the mounting number of known coronavirus infections, at least for now.

“The economic damage isn’t going to be as dire and severe as was initially predicted,” said Peter Essele, head of portfolio management for Commonwealth Financial Network. “That helps explain the rebound.”

The worry is that if the pandemic keeps worsening, with hotspots stretching across the U.S. South and West, it could scare shoppers and businesses away from spending. The worst-case scenario for markets is that governments resume lockdowns implemented during the spring and choke off the budding economic recovery. Either way, many economists expect the global economy to take years before returning to its output from before the pandemic.

The huge spending efforts to resuscitate the economy could also lead to a reckoning in the future. “We have now mortgaged our entire future to try and withstand this downturn,” Essele said.

At some point, the buildup in debt for the U.S. government could lead to higher taxes and interest rates. But markets generally see that as a potential problem for another day.

For now, the trend is still upward. Monday’s rally follows last week’s 4% gain for the S&P 500, which itself helped cap the best quarter for the U.S. stock market since 1998. It's a whiplash turnaround from the market's earlier sell-off, which sent the S&P 500 down nearly 34% from its record.

A report released Monday morning showed that U.S. services industries snapped back to growth in June. The results were much stronger than economists expected. They also followed reports from last week that showed U.S. employers added more workers than they cut for the second straight month and that U.S. manufacturing returned to growth in June.

Miner Freeport-McMoRan jumped 10.9% for the largest gain in the S&P 500 after it said sales of copper and gold were stronger in the latest quarter than it had earlier forecast.

Big tech-oriented companies also continued their dominance amid expectations their growth can roll on almost regardless of the economy’s performance. Apple gained 2.7%, Microsoft rose 2.2% and Amazon climbed 5.8% to top $3,000 per share.

The immense size of these companies also gives their stocks’ movements much larger sway over market indexes. The Russell 2000 index of smaller stocks was up a more modest 0.8%.

Some dealmaking also helped to lift markets.

Berkshire Hathaway, led by famed bargain hunter Warren Buffett, has agreed to buy Dominion Energy’s operations for moving and storing natural gas. Berkshire Hathaway, which has a reputation for waiting until prices reach attractive lows before pouncing, will pay roughly $4 billion in cash under the deal, as well as assume $5.7 billion in debt.

Berkshire Hathaway’s Class B shares rose 2.2%. Dominion Energy fell 11%. While announcing the sale, it also said that it and Duke Energy were canceling a controversial $8 billion natural-gas pipeline project.

Uber rose 6% after it said it will buy food-delivery business Postmates for $2.65 billion in stock. The deal would fold Postmates in with Uber’s Uber Eats unit.

The yield on the 10-year Treasury rose to 0.68% from 0.67% late Thursday. Markets were closed Friday for Independence Day. The yield tends to move with investors’ expectations for the economy and inflation.

In Europe, Germany’s DAX returned 1.6%, and France’s CAC 40 rose 1.5%. The FTSE 100 in London added 2.1%. Retail sales rebounded in May in the 19 countries that use the euro, while car sales in Britain picked up in June as lockdown measures were eased.

In Asia, Japan’s Nikkei 225 rose 1.8%, South Korea’s Kospi gained 1.7% and the Hang Seng in Hong Kong jumped 3.8%.

Benchmark U.S. crude oil for August delivery fell 2 cents to settle at $40.63 a barrel. Brent crude oil for September delivery rose 30 cents to $43.10 a barrel.


----------



## bigdog

Wall Street's recent string of big gains came to an abrupt stop Tuesday as stocks closed broadly lower following a pullback in markets overseas.

The S&P 500 fell 1.1% after spending most of the day in the red. The sell-off snapped the index's five-day winning streak. Technology stocks, banks and companies that rely on consumer spending accounted for a big slice of the slide, which accelerated toward the end of the day. Bond yields fell and the price of gold rose, another sign of caution in the market.

Optimism that the economy is on the mend as businesses reopen has helped drive stocks higher. But the recent surge in confirmed new coronavirus cases has clouded hopes for a relatively quick economic turnaround. Investors are also girding for what the next few weeks will reveal about the health of corporate America as companies begin reporting their second-quarter results.

“It’s not unusual for these five-day runs to be met with a bout of profit-taking, especially given the headlines on the virus,” said Quincy Krosby, chief market strategist at Prudential Financial. “When you move toward overbought conditions it doesn’t take much for the market to burn off some of the froth.”

The selling followed a deeper pullback in France, Germany and elsewhere after the European Union’s executive arm said this year’s recession caused by the coronavirus pandemic will be deeper than forecast. It also said next year’s expected rebound could be weaker than expected.

The S&P 500 dropped 34.40 points to 3,145.32. The Dow Jones Industrial Average fell 396.85 points, or 1.5%, to 25,890.18. Big technology stocks helped drive early gains for the Nasdaq, but they faded by afternoon. The index came off an all-time high, losing 89.76 points, or 0.9%, to 10,343.89.

Small company stocks took the heaviest losses. The Russell 2000 index slid 26.89 points, or 1.9%, to 1,416.

The U.S. stock market has been churning over the last month, with big daily moves up and down keeping it roughly in place. It’s been a small-scale version of the market’s movements since the start of the year, when a nearly 34% plunge on worries about the pandemic-caused recession quickly gave way to a tremendous rally that brought the S&P 500 nearly back to its record level.

*ASX 200 expected to drop lower.*
The ASX 200 looks set to drop lower on Wednesday after a disappointing night on Wall Street. According to the latest SPI futures, the benchmark index is expected to open the day 28 points or 0.5% lower this morning. On Wall Street the Dow Jones fell 1.55%, the S&P 500 dropped 1.1%, and the Nasdaq tumbled 0.85%. This follows news that Texas has reported over 10,000 new coronavirus cases.










https://www.usnews.com/news/busines...lip-as-virus-outbreaks-mute-hopes-for-rebound

*Wall Street Follows Solid Stock Market Rally With Pullback*
Wall Street’s recent string of big gains came to an abrupt stop Tuesday as stocks closed broadly lower following a pullback in markets overseas.
By Associated Press, Wire Service Content July 7, 2020, at 4:58 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

Wall Street's recent string of big gains came to an abrupt stop Tuesday as stocks closed broadly lower following a pullback in markets overseas.

The S&P 500 fell 1.1% after spending most of the day in the red. The sell-off snapped the index's five-day winning streak. Technology stocks, banks and companies that rely on consumer spending accounted for a big slice of the slide, which accelerated toward the end of the day. Bond yields fell and the price of gold rose, another sign of caution in the market.

Optimism that the economy is on the mend as businesses reopen has helped drive stocks higher. But the recent surge in confirmed new coronavirus cases has clouded hopes for a relatively quick economic turnaround. Investors are also girding for what the next few weeks will reveal about the health of corporate America as companies begin reporting their second-quarter results.

“It’s not unusual for these five-day runs to be met with a bout of profit-taking, especially given the headlines on the virus,” said Quincy Krosby, chief market strategist at Prudential Financial. “When you move toward overbought conditions it doesn’t take much for the market to burn off some of the froth.”

The selling followed a deeper pullback in France, Germany and elsewhere after the European Union’s executive arm said this year’s recession caused by the coronavirus pandemic will be deeper than forecast. It also said next year’s expected rebound could be weaker than expected.

The S&P 500 dropped 34.40 points to 3,145.32. The Dow Jones Industrial Average fell 396.85 points, or 1.5%, to 25,890.18. Big technology stocks helped drive early gains for the Nasdaq, but they faded by afternoon. The index came off an all-time high, losing 89.76 points, or 0.9%, to 10,343.89.

Small company stocks took the heaviest losses. The Russell 2000 index slid 26.89 points, or 1.9%, to 1,416.

The U.S. stock market has been churning over the last month, with big daily moves up and down keeping it roughly in place. It’s been a small-scale version of the market’s movements since the start of the year, when a nearly 34% plunge on worries about the pandemic-caused recession quickly gave way to a tremendous rally that brought the S&P 500 nearly back to its record level.

Lifting markets higher on one end are reports showing budding improvements in the economy. The job market, retail sales and other economic indicators are all still well below where they were before the pandemic struck. But they’ve stopped plummeting and have begun to grow again as governments relax restrictions meant to slow the spread of the coronavirus.

That’s combined with unprecedented amounts of aid from central banks and governments around the world to prop up markets. It also helped send the S&P 500 up 1.6% on Monday, following up on a 4% rise the prior week, which itself helped cap the best quarter for the index since 1998.

“The economic data that has come out over the past couple of months has actually beaten even the most optimistic economists, so in that scenario it's not surprising to see a euphoria-driven rally in the market,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors.

But pulling markets lower on the other end are worries that the optimism is overdone. The pandemic isn’t going away, with infection levels worsening across wide swaths of the U.S. South and West, among other global hotspots. The concern is that spreading infections could keep households and businesses nervous and scare them away from spending. In the worst-case scenario, it could force governments to bring back some of the restrictions that sent the economy into its sudden recession.

Such worries spilled through markets Tuesday after the European Commission unveiled its more dour economic forecasts for 2020 and 2021.

The commission said the joint economy of the 27 nations in the European Union will shrink 8.3% this year, before growing 5.8% in 2021. In the previous forecasts released in May, it had forecast the economy would contract about 7.5% this year and bounce back 6% next year.

Underscoring the fragility, a separate report showed that industrial production in Germany rebounded by less than economists expected in May, and remains far below levels from before the pandemic caused factories to close.

Germany's DAX lost 0.9%, while France's CAC 40 fell 0.7%. The FTSE 100 in London dropped 1.5%. Markets in Asia also fell.

In the U.S. market, airlines and stocks of other companies that most need the economy to get closer to normal had the sharpest losses.

United Airlines slid 7.6%, American Airlines dropped 7% and mall-owner Simon Property Group dropped 4.4%.

Energy stocks fell 3.2% for the largest loss among the 11 sectors that make up the S&P 500. They've swung sharply with expectations for the economy's health and demand for oil and gasoline. Devon Energy lost 7.3%, while Valero Energy fell 5.9%.

Benchmark U.S. crude slipped a penny to settle at $40.62 per barrel after earlier flipping between losses and gains. Brent crude, the international standard, fell 2 cents to close at $43.08 per barrel.

The yield on the 10-year Treasury slipped to 0.64% from 0.68% late Monday. It tends to move with investors' expectations for the economy and inflation.


----------



## bigdog

Wall Street’s rally got back on track Wednesday after more gains for big technology stocks helped pull the S&P 500 to its sixth gain in seven days.

The S&P 500 drifted up and down for most of the day, before a last-hour lift sent it to a gain of 0.8%. Treasury yields and oil prices also ticked higher, but caution continued to hang over markets as gold touched its highest price since 2011.

The Dow Jones Industrial Average rose 177.10 points, or 0.7%, to 26,067.28, and the Nasdaq composite gained 148.61, or 1.4%, to 10,492.50 to set another record. The S&P 500, which more index funds benchmark themselves against, rose 24.62 to 3,169.94 and is back within 6.4% of its record.

Wednesday’s up-and-down trading was reminiscent of the market’s moves over the last month, when Wall Street has largely churned in place. Optimism is rising about a reopening economy, but worsening coronavirus infection levels across much of the U.S. South and West threaten to derail the budding economic improvements.

Several very early indicators on the economy may also be flashing yellow, such as dine-in reservations at restaurants and airport traffic, as some states roll back their reopenings, said Katie Nixon, chief investment officer at Northern Trust Wealth Management.

That could be driving investors back into the comfort of the stocks that have served them so well for years: big tech-oriented stocks. Such stocks have continued to climb as investors bet they’ll be able to grow almost regardless of what the economy is doing.

*ASX 200 expected to rebound.*
It looks set to be a better day of trade for the ASX 200 on Thursday. According to the latest SPI futures, the benchmark index is expected to open the day 46 points or 0.8% higher. This follows a positive night of trade on Wall Street which saw the Dow Jones rise 0.7%, the S&P 500 climb 0.8%, and the Nasdaq jump 1.45%. The latter index saw Apple shares hit a record high overnight.










https://www.usnews.com/news/busines...mostly-lower-as-pandemic-saps-buying-momentum

*Wall Street's Rally Gets Back on Track as Tech Leads the Way*
Wall Street’s rally got back on track Wednesday after more gains for big technology stocks helped pull the S&P 500 to its sixth gain in seven days.
By Associated Press, Wire Service Content July 8, 2020, at 5:12 p.m. 

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Wall Street’s rally got back on track Wednesday after more gains for big technology stocks helped pull the S&P 500 to its sixth gain in seven days.

The S&P 500 drifted up and down for most of the day, before a last-hour lift sent it to a gain of 0.8%. Treasury yields and oil prices also ticked higher, but caution continued to hang over markets as gold touched its highest price since 2011.

The Dow Jones Industrial Average rose 177.10 points, or 0.7%, to 26,067.28, and the Nasdaq composite gained 148.61, or 1.4%, to 10,492.50 to set another record. The S&P 500, which more index funds benchmark themselves against, rose 24.62 to 3,169.94 and is back within 6.4% of its record.

Wednesday’s up-and-down trading was reminiscent of the market’s moves over the last month, when Wall Street has largely churned in place. Optimism is rising about a reopening economy, but worsening coronavirus infection levels across much of the U.S. South and West threaten to derail the budding economic improvements.

Several very early indicators on the economy may also be flashing yellow, such as dine-in reservations at restaurants and airport traffic, as some states roll back their reopenings, said Katie Nixon, chief investment officer at Northern Trust Wealth Management.

That could be driving investors back into the comfort of the stocks that have served them so well for years: big tech-oriented stocks. Such stocks have continued to climb as investors bet they’ll be able to grow almost regardless of what the economy is doing.

Amazon added 2.7%, Apple rose 2.3% and Microsoft gained 2.2%. Because of their immense size, those three stocks alone were responsible for more than half the S&P 500’s gain for the day.

“It’s sort of like: Buy what feels safe, even though you know you’re maybe overpaying for it,” Nixon said. “But it’s better than betting on a recovery that’s maybe going to be slower than expected, particularly given the fact that we’re seeing a spike in cases in some major areas of the United States.”

Such indomitable strength for technology stocks is raising some concerns, though.

"The Nasdaq is screaming warning signs that there’s rampant speculation,” said Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management, after expectations have built so high.

“I would be very cautious on some of these companies," he said. "The worst thing in the world is to own companies that have just gone hyperbolic.”

Roughly two in five stocks in the S&P 500 fell Wednesday, with several chemical and construction-related companies taking the hardest hits.

The mixed trading follows Tuesday’s snapback, when the S&P 500 fell 1.1% to break a five-day winning streak. The selling accelerated late in the day, and analysts say investors were likely cashing in on recent gains given the uncertainty that lies ahead for markets.

“Up until this time, there's been a pretty consistent litany of pretty good economic reports, but all of a sudden the reopening seems to have plateaued,” said David Joy, chief market strategist at Ameriprise Financial.

“There’s a certain fragility in the consumer confidence data that’s out there right now,” he said. "Same thing is true in the jobs data. I think the weekly jobless claims number is going to be increasingly important.”

Few headline economic reports are left on the schedule for this week other than Thursday’s update on weekly jobless claims. Next week may have more action, when a couple dozen companies in the S&P 500 are scheduled to report their earnings results for the second quarter.

Expectations for the upcoming earnings season are dismal. More important for investors, analysts say, may be what companies say about how they plan to navigate the rest of the year and even 2021, when profits are expected to grow again.

Gold for delivery in July rose $11.30 to settle at $1,815.50 per ounce. The more actively traded contract for August delivery neared $1,830 during the day, the highest level since September 2011.

Gold’s price tends to rise with worries about the economy and inflation, and it has climbed more than $300 since mid-March. Its rise, alongside the stock market’s rally, highlights for critics the disconnect between Wall Street and the economy.

Treasury yields ticked higher. The yield on the 10-year Treasury rose to 0.65% from 0.64%. It tends to move with investors’ expectations for the economy and inflation.

In Asian stock markets, Japan’s Nikkei 225 slipped 0.8%, Hong Kong’s Hang Seng added 0.6% and South Korea’s Kospi slipped 0.2%. The biggest action was in Shanghai, where stocks jumped another 1.7%. That brings their gain to 14% for July so far, raising concern that speculators are driving the market.

In Europe, the German DAX lost 1%, and France’s CAC 40 dropped 1.2%. The FTSE 100 in London slipped 0.5%.

Benchmark U.S. crude rose 28 cents to settle at $40.90 per barrel. Brent crude, the international standard, added 21 cents to $43.29 a barrel.


----------



## bigdog

Most of Wall Street wilted Thursday on worries that the economy’s recent improvements may be set to fade as coronavirus cases keep climbing.

The S&P 500 lost 0.6%, with three in four stocks within the index falling. The sharpest drops hit oil companies, airlines and other stocks whose fortunes are most closely tied to a reopening and strengthening economy. Treasury yields also sank in another sign of increased caution.

The Dow Jones Industrial Average dropped 361.19 points, or 1.4%, to 25,706.09, while the 17.89 point fall for the S&P 500 to 3,152.05 was just its second loss in the last eight days.

Smaller stocks sank more than the rest of the market, which often happens when investors are downgrading their expectations for the economy. The Russell 2000 index of small-cap stocks lost 28.48, or 2%, to 1,398.92.

The Nasdaq composite was an outlier as investors continue to bet big tech-oriented stocks can keep growing almost regardless of the economy’s strength. It added 55.25, or 0.5%, to 10,547.75 and hit another record.

“The broad equity market is navigating through a zone of uncertainty,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.

“There are ample reasons for caution,” he said. “Clearly there’s uncertainty surrounding the impact and duration of this virus.”

Thursday’s headline economic report showed that a little more than 1.3 million workers filed for unemployment claims last week. It’s an astoundingly high number, but it’s also down from 1.4 million the prior week and from a peak of nearly 6.9 million in late March.

*ASX 200 expected to slide.*
Weakness on Wall Street overnight looks likely to weigh on the ASX 200 index on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 0.5% or 28 points lower this morning. Overnight the Dow Jones sank 1.4%, the S&P 500 dropped 0.55%, and the Nasdaq defied the rest with a 0.5% gain.

*Tech shares on watch.*
It could be a good day of trade for *Afterpay Ltd* (ASX: APT) and other tech shares after their U.S. counterparts charged higher overnight. Investors were piling into tech shares again, leading to the Nasdaq index racing to a new record high. Tech behemoth Amazon was the star of the show, rising 3.3% to an all-time high. It now has a market capitalisation comfortably above US$1.5 trillion.










https://www.usnews.com/news/busines...ks-follow-wall-street-higher-after-tech-gains

*Most of Wall Street Wilts Amid Worries on Virus, Economy*
Most of Wall Street wilted Thursday on worries that the economy’s recent improvements may be set to fade as coronavirus cases keep climbing.
By Associated Press, Wire Service Content July 9, 2020, at 4:43 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Most of Wall Street wilted Thursday on worries that the economy’s recent improvements may be set to fade as coronavirus cases keep climbing.

The S&P 500 lost 0.6%, with three in four stocks within the index falling. The sharpest drops hit oil companies, airlines and other stocks whose fortunes are most closely tied to a reopening and strengthening economy. Treasury yields also sank in another sign of increased caution.

The Dow Jones Industrial Average dropped 361.19 points, or 1.4%, to 25,706.09, while the 17.89 point fall for the S&P 500 to 3,152.05 was just its second loss in the last eight days.

Smaller stocks sank more than the rest of the market, which often happens when investors are downgrading their expectations for the economy. The Russell 2000 index of small-cap stocks lost 28.48, or 2%, to 1,398.92.

The Nasdaq composite was an outlier as investors continue to bet big tech-oriented stocks can keep growing almost regardless of the economy’s strength. It added 55.25, or 0.5%, to 10,547.75 and hit another record.

“The broad equity market is navigating through a zone of uncertainty,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.

“There are ample reasons for caution,” he said. “Clearly there’s uncertainty surrounding the impact and duration of this virus.”

Thursday’s headline economic report showed that a little more than 1.3 million workers filed for unemployment claims last week. It’s an astoundingly high number, but it’s also down from 1.4 million the prior week and from a peak of nearly 6.9 million in late March.

The improvements help validate investors’ earlier optimism that the economy can recover as states and other governments relax restrictions put in place earlier this year to slow the coronavirus pandemic. Such optimism helped the S&P 500 rally back to within 7% of its record, after earlier being down nearly 34%.

But economists point to a troubling slowdown in the pace of improvements, including moderating declines in the four-week average of jobless claims. Further gains for the job market are going to be more difficult, said Patrick Schaffer, global investment specialist at J.P. Morgan Private Bank. The U.S. unemployment rate is currently 11.1%.

“The initial jump was the easy part,” he said. “The reality is the labor market continues to face enormous headwinds.”

Investors are worried that worsening infection levels across swaths of the U.S. South and West and in other global hotspots could derail the budding recovery. Some states are rolling back their reopenings, while others are ordering people arriving from hotspots to quarantine.

“When the restrictions were relaxed in the beginning part of June, you saw parts of the tangible economy do really well,” Schaffer said. “A lot of that has been unwound as we’ve seen a resurgence in case count and some restrictions being put in place.”

Markets have been quick to react to infection and hospitalization rates in Florida and other big Sun Belt states in particular. Thursday’s losses for stocks accelerated after Florida reported the largest daily increase in deaths yet from the pandemic, with its cumulative death toll topping 4,000.

Such concerns helped push Treasury yields lower. The yield on the 10-year note, which tends to move with investors’ expectations for the economy and inflation, sank to 0.60% from 0.65% late Wednesday.

The price of gold also held above $1,800 per ounce. Gold tends to rise when investors are worried about the economy, and on Wednesday it touched its highest price since September 2011. After flipping between small gains and losses, gold for delivery in August dipped $16.80 to settle at $1,803.80.

In the stock market, the sharpest losses hit companies whose profits tend to rise and fall most closely with the strength of the economy. Energy stocks dropped 4.9% for the biggest loss among the 11 sectors that make up the index. Exxon Mobil sank 4.1%, and ConocoPhillips fell 6.6%. Benchmark U.S. crude dropped $1.28 to settle at $39.62 per barrel.

Financial stocks were also particularly weak, with JPMorgan Chase down 2.2% and Citigroup down 2.8%, as a struggling economy raises the threat of borrowers failing to repay their loans.

Airlines and other companies that desperately need the pandemic to ease so customers can return also slumped. United Airlines lost 7.3%, retailer Kohl's sank 7.2% and mall-owner Simon Property Group fell 5.3%.

Walgreens Boots Alliance dropped 7.8% for one of the biggest losses in the S&P 500 after it said it lost $1.7 billion in the latest quarter as the pandemic kept many of its customers around the world at home.

Companies across the country are preparing to report their second-quarter results in upcoming weeks, and forecasts are uniformly dismal.

Stocks in overseas markets were mixed, though China continued its huge run. Stocks in Shanghai added another 1.4%, bringing its gain for July to 15.6% and further stoking worries that speculators are in charge of the market.


----------



## bigdog

Optimism returned to Wall Street on Friday, and stocks rallied to cap a shaky week dogged by worries that rising coronavirus counts may halt the economy’s recent upswing.

The S&P 500 climbed 1%, and the biggest gains came from cruise ship operators, airlines, banks and other companies that most need the economy to continue to reopen and strengthen.

The Dow Jones Industrial Average rose 369.21 points, or 1.4%, to 26,075.30. The Nasdaq composite added 69.69, or 0.7%, to 10,617.44, a new high. The S&P 500 rose 32.99 to 3,185.04.

After starting Friday with modest drops, stocks and Treasury yields erased their declines to drive higher. In a signal of rising expectations for the economy, the Russell 2000 index of smaller stocks rose more than the rest of the market, up 1.7%.

They’re the latest eddies in what was an erratic week for markets. Prices swung, sometimes sharply within a single day, with worries about rising hospitalizations and COVID-19 trends in Florida and other hotpots around the world. The S&P 500 flip-flopped between a gain and loss through each day of the week.

Analysts said an encouraging report from Gilead Sciences about its investigational treatment of COVID-19, remdesivir, helped drive Friday's rebound.

“So, for the first time in a lot of days we’re seeing smaller caps outperform,” said Bob Shea, CEO of TrimTabs Asset Management. “We’re seeing just a kind of mean-reversion day, and they’re using the Gilead news to do it.”

The week’s meandering action was a microcosm of the up-and-down churn that stocks have been stuck in for a little more than a month. The market’s momentum has stalled since early June, after the S&P 500 roared back to recover most of an earlier 34% plummet. Massive amounts of aid from central banks and governments around the world ignited the rally.

“We are dealing with an unprecedented time economically,” said Katerina Simonetti, senior portfolio manager at UBS Private Wealth Management. “We have to remember that the government support and economic stimulus has been historically unprecedented. That’s a huge deal, and it’s going to make a difference for this market.”

It also helped send the S&P 500 to a 1.8% rise for the week, its second straight weekly gain.










https://www.usnews.com/news/busines...-sink-after-wall-st-losses-on-economy-worries

*Wall Street Rallies as Optimism Returns to Cap Erratic Week*
Optimism returned to Wall Street on Friday, and stocks rallied to cap a shaky week dogged by worries that rising coronavirus counts may halt the economy’s recent upswing.
By Associated Press, Wire Service Content July 10, 2020, at 4:32 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Optimism returned to Wall Street on Friday, and stocks rallied to cap a shaky week dogged by worries that rising coronavirus counts may halt the economy’s recent upswing.

The S&P 500 climbed 1%, and the biggest gains came from cruise ship operators, airlines, banks and other companies that most need the economy to continue to reopen and strengthen.

The Dow Jones Industrial Average rose 369.21 points, or 1.4%, to 26,075.30. The Nasdaq composite added 69.69, or 0.7%, to 10,617.44, a new high. The S&P 500 rose 32.99 to 3,185.04.

After starting Friday with modest drops, stocks and Treasury yields erased their declines to drive higher. In a signal of rising expectations for the economy, the Russell 2000 index of smaller stocks rose more than the rest of the market, up 1.7%.

They’re the latest eddies in what was an erratic week for markets. Prices swung, sometimes sharply within a single day, with worries about rising hospitalizations and COVID-19 trends in Florida and other hotpots around the world. The S&P 500 flip-flopped between a gain and loss through each day of the week.

Analysts said an encouraging report from Gilead Sciences about its investigational treatment of COVID-19, remdesivir, helped drive Friday's rebound.

“So, for the first time in a lot of days we’re seeing smaller caps outperform,” said Bob Shea, CEO of TrimTabs Asset Management. “We’re seeing just a kind of mean-reversion day, and they’re using the Gilead news to do it.”

The week’s meandering action was a microcosm of the up-and-down churn that stocks have been stuck in for a little more than a month. The market’s momentum has stalled since early June, after the S&P 500 roared back to recover most of an earlier 34% plummet. Massive amounts of aid from central banks and governments around the world ignited the rally.

“We are dealing with an unprecedented time economically,” said Katerina Simonetti, senior portfolio manager at UBS Private Wealth Management. “We have to remember that the government support and economic stimulus has been historically unprecedented. That’s a huge deal, and it’s going to make a difference for this market.”

It also helped send the S&P 500 to a 1.8% rise for the week, its second straight weekly gain.

“The market is in a kind of place where good news is a rally and bad news ‘the Fed’s got us,’” said Shea of TrimTabs Asset Management. “That’s the win-win the market has had for the last several weeks.”

Stocks of companies that most need the economy to continue improving and reopening dominated the top of Friday’s leaderboard.

Cruise operator Carnival jumped 10.8%, Royal Caribbean Cruises gained 9.9% and United Airlines rose 8.3%.

Banks were also particularly strong, and financial stocks in the S&P 500 climbed 3.5% for the biggest gain among the 11 sectors in the index. A stronger economy would mean their borrowers are better able to repay their loans.

JPMorgan Chase and Bank of America both rose 5.5%, while Citigroup jumped 6.5%.

Energy stocks rose with the price of oil, which has swung sharply with hopes for the economy. Benchmark U.S. crude oil rose 93 cents to settle at $40.55 per barrel. Brent crude added 89 cents to $43.24 per barrel.

Lagging behind the rest of the market were some of the stocks that have been holding up best this year: big tech-oriented giants. Microsoft dipped 0.3%, and Apple edged up 0.2%. It’s at least a pause for such stocks, which have climbed through the pandemic this year as investors bet they’ll keep growing almost regardless of the economy’s strength.

The yield on the 10-year Treasury, which tends to move with investors’ expectations for the economy and inflation, rose to 0.64% from 0.60% late Thursday.

In overseas stock markets, European markets climbed after reports showed industrial production bounced back sharply in some countries.

The CAC 40 in France added 1%, while Germany’s DAX returned 1.2%. The FTSE 100 in London gained 0.8%.

Asian markets were more subdued. The Nikkei 225 in Tokyo shed 1.1%, the Hang Seng in Hong Kong retreated 1.8% to 25,727.41 and the Kospi in Seoul lost 0.8%.

Even Chinese stocks took a break from their torrid run. Stocks in Shanghai slumped nearly 2% for their first drop in nearly two weeks. They’re still up 14.2% over that span.

773


----------



## bigdog

*ASX 200 set to surge higher.*
The ASX 200 looks set to surge higher this morning after a positive end to the week on Wall Street. According to the latest SPI futures, the benchmark index is expected to open the week 95 points or 1.6% higher. On Wall Street the Dow Jones rose 1.4%, the S&P 500 climbed 1.05%, and the Nasdaq pushed 0.65% higher. Positive data from Gilead’s coronavirus treatment trial boosted markets.


----------



## bigdog

Wall Street got a painful reminder that the coronavirus pandemic isn’t going away, and a big early gain for stocks suddenly flipped to losses after California showed how it's still scarring the economy.

The S&P 500 fell 0.9%, with all the losses accumulating in the last hour of trading, after California said it will extend closures of bars and indoor dining across the state, among other restrictions. It’s one of many states across the U.S. West and South where coronavirus counts are accelerating and threatening the budding recovery that just got underway for the economy.

The announcement from California, which accounts for nearly 15% of the country’s economy, combined with an escalation by the White House in its tensions with China to knock the market down from its earlier gain of 1.6%.

Technology stocks took the hardest hits, highlighted by Microsoft's swing from an early gain of 1% to a loss of 3.1%. It’s a sharp step back for tech-oriented giants, which have been cruising higher through the pandemic on bets that they can keep growing almost regardless of the economy.

“There’s an increasing sense that the recovery from the virus related shutdown is going to be more drawn out, more uneven than maybe the market was looking for,” said Willie Delwiche, investment strategist at Baird. “And you add on top of that a number of tech companies that had run up tremendously over the past couple of weeks, so there’s a little bit of shaking out there as well.”

The tech losses helped drag the Nasdaq composite down 226.60 points, or 2.1%, to 10,390.84. The Dow Jones Industrial Average squeaked out a gain of 10.50 points, or less than 0.1%, to 26,085.80. The S&P 500 dropped 29.82 to 3,155.22.

In a signal of downgrading expectations for the economy, Treasury yields fell and smaller stocks did worse than their larger rivals. The Russell 2000 index of small-cap stocks lost 1.3%.

The volatility struck markets just as earnings reporting season gets underway.

Several of the country’s biggest banks are slated to report their results Tuesday, including JPMorgan Chase, and the expectations are almost universally dreadful across the S&P 500.

Analysts say the biggest U.S. companies likely saw their earnings per share plummet nearly 45% from April through June, compared with year-ago levels. That would be the sharpest drop since the depths of the Great Recession in 2008, according to FactSet.

Investors are expecting banks, which traditionally kick off each earnings season every three months, to say they’ve had to set aside billions of dollars to cover loans potentially going bad due to the pandemic-caused recession, for example.

For energy stocks, whose earnings reports get going later in July, Wall Street expects profits to have disappeared completely. It’s not surprising given how prices in one corner of the U.S. oil market momentarily dipped below zero during the quarter as demand disappeared.

*ASX 200 set to give back some gains.*
The ASX 200 looks set to give back some of yesterday’s gain on Tuesday. According to the latest SPI futures, the benchmark index is expected to open the day 47 points or 0.8% lower. This follows a disappointing start to the week on Wall Street, which saw the Dow Jones trade flat, the S&P 500 drop 0.9%, and the Nasdaq sink 2.1% lower.










https://www.usnews.com/news/busines...-gain-on-hopes-for-recovery-despite-outbreaks

*Stocks Slam Into Reverse as Virus Keeps Scarring Economy*
Stocks gave up an early gain and turned lower Monday in another day of roller-coaster trading.
By Associated Press, Wire Service Content July 13, 2020, at 5:07 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Wall Street got a painful reminder that the coronavirus pandemic isn’t going away, and a big early gain for stocks suddenly flipped to losses after California showed how it's still scarring the economy.

The S&P 500 fell 0.9%, with all the losses accumulating in the last hour of trading, after California said it will extend closures of bars and indoor dining across the state, among other restrictions. It’s one of many states across the U.S. West and South where coronavirus counts are accelerating and threatening the budding recovery that just got underway for the economy.

The announcement from California, which accounts for nearly 15% of the country’s economy, combined with an escalation by the White House in its tensions with China to knock the market down from its earlier gain of 1.6%.

Technology stocks took the hardest hits, highlighted by Microsoft's swing from an early gain of 1% to a loss of 3.1%. It’s a sharp step back for tech-oriented giants, which have been cruising higher through the pandemic on bets that they can keep growing almost regardless of the economy.

“There’s an increasing sense that the recovery from the virus related shutdown is going to be more drawn out, more uneven than maybe the market was looking for,” said Willie Delwiche, investment strategist at Baird. “And you add on top of that a number of tech companies that had run up tremendously over the past couple of weeks, so there’s a little bit of shaking out there as well.”

The tech losses helped drag the Nasdaq composite down 226.60 points, or 2.1%, to 10,390.84. The Dow Jones Industrial Average squeaked out a gain of 10.50 points, or less than 0.1%, to 26,085.80. The S&P 500 dropped 29.82 to 3,155.22.

In a signal of downgrading expectations for the economy, Treasury yields fell and smaller stocks did worse than their larger rivals. The Russell 2000 index of small-cap stocks lost 1.3%.

The volatility struck markets just as earnings reporting season gets underway.

Several of the country’s biggest banks are slated to report their results Tuesday, including JPMorgan Chase, and the expectations are almost universally dreadful across the S&P 500.

Analysts say the biggest U.S. companies likely saw their earnings per share plummet nearly 45% from April through June, compared with year-ago levels. That would be the sharpest drop since the depths of the Great Recession in 2008, according to FactSet.

Investors are expecting banks, which traditionally kick off each earnings season every three months, to say they’ve had to set aside billions of dollars to cover loans potentially going bad due to the pandemic-caused recession, for example.

For energy stocks, whose earnings reports get going later in July, Wall Street expects profits to have disappeared completely. It’s not surprising given how prices in one corner of the U.S. oil market momentarily dipped below zero during the quarter as demand disappeared.

Investors have largely seemed willing to give a pass for such terrible results in the latest quarter and maybe even for a couple more. Instead, investors are focusing on a hopeful return to profit growth in 2021 and beyond. That's helped the S&P 500 climb back to within 7% of its record set in February.

The hope is that the economy and declines in corporate profits bottomed out in the spring and will continue to improve. The job market, retail sales and other measures of the economy have already begun showing some budding improvement.

Of course, all the optimism is colliding with fears that the recovery could be short-lived due to the jumping coronavirus counts in California and other global hot spots. Monday's sudden dive for markets after California's announcement was reminiscent of similar recent market reactions after Florida and other Sun Belt locations have announced rising numbers of known infections and deaths.

If states continue to bring back restrictions on their economies to slow the resurgence, it could choke off the fragile economic improvements just as they got underway.

“The most important thing is COVID-19 data,” said Darrell Cronk, chief investment officer of Wells Fargo Wealth and Investment Management. “That’s going to affect whether we have to slow down or stop economic activity in the back half of the year.”

Such concerns have helped the price of gold recently rally to its highest level since September 2011, shortly after it set its record. Gold added $12.20 to settle at $1,814.10 per ounce Monday.

Another measure of nervousness in the market also ticked higher. The VIX, which shows how much volatility traders expect from the S&P 500 in upcoming weeks, rose 18%.

Also adding to nervousness in the market was the White House's decision to reject nearly all Chinese maritime claims in the South China Sea. The world's largest economies have been sparring over everything from the coronavirus pandemic to human rights.

PepsiCo added 0.3% even though it said its profit fell 19% last quarter from a year earlier. Results were better than Wall Street had forecast, leading to the lift. But the company behind Frito-Lay and SodaStream also said the future looks so uncertain given the pandemic that it won’t offer any predictions about its sales and profits for the rest of the year.

European and Asian markets ended higher.

The yield on the 10-year Treasury fell to 0.61% from 0.63% late Friday. It tends to move with investors’ expectations for the economy and inflation.

Benchmark U.S. crude fell 1.1% to settle at $40.10 per barrel. Brent crude, the international standard, fell 1.2% to $42.72 per barrel.


----------



## bigdog

Wall Street rebounded on Tuesday, and the S&P 500 more than made up all its losses from the day before, after stocks pinballed through another day of erratic trading.

The S&P 500 climbed 1.3%, led by energy producers and other companies whose profits would benefit greatly from a strengthening economy. It was a sharp turnaround from the morning, when the index was down 0.9%, and from Monday’s last-hour slide after California shut bars and reinstated other restrictions amid a jump in coronavirus counts.

The Dow Jones Industrial Average also erased an early loss to end the day at 26,642.59, up 556.79 points, or 2.1%. Big tech-oriented stocks lagged behind, though, in a turnaround from their remarkably resilient run through the pandemic. That held the Nasdaq composite to a more modest gain of 97.73, or 0.9%, to 10,488.58.

The S&P 500 added 42.30 points to 3,197.52, and six out of seven stocks in the index were higher. The move left it 0.4% higher for the week after two yo-yo days.

After the market closed, shares of Moderna jumped in after-hours trading after a COVID-19 vaccine it's developing with the National Institutes of Health revved up people’s immune systems just the way scientists had hoped. The experimental vaccine will start its most important step around July 27: a 30,000-person study to prove if the shots really are strong enough to protect against the coronavirus.

Tuesday's unsettled market moves came as earnings reporting season kicked off. Three of the nation’s biggest banks painted a mixed picture of how badly the coronavirus pandemic is ripping through their businesses.

“The earnings season is off to a very guarded start,” said J.J. Kinahan, chief market strategist at TD Ameritrade.

He pointed to cautious forecasts from companies that see the economy possibly taking a step back because of worsening COVID-19 trends, or at least taking longer to recover than expected.

“The fact that they are prepared for bad scenarios is helping to give the market a little confidence,” he said.

*ASX 200 to rebound.*
It looks set to be a positive day of trade for the ASX 200 index on Wednesday after a very strong night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 30 points or 0.5% higher. In the United States the Dow Jones rose 2.1%, the S&P 500 climbed 1.3%, and the Nasdaq pushed 0.9% higher. Easing coronavirus cases in Florida and California appears to have given investor sentiment a boost.










https://www.usnews.com/news/busines...-drop-on-jitters-over-virus-china-us-friction

*Wall Street Rebounds After Yet Another Yo-Yo Day of Trading*
The stock market shook off a weak start and ended broadly higher after pinballing through another day of unsettled trading.
By Associated Press, Wire Service Content July 14, 2020, at 5:22 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Wall Street rebounded on Tuesday, and the S&P 500 more than made up all its losses from the day before, after stocks pinballed through another day of erratic trading.

The S&P 500 climbed 1.3%, led by energy producers and other companies whose profits would benefit greatly from a strengthening economy. It was a sharp turnaround from the morning, when the index was down 0.9%, and from Monday’s last-hour slide after California shut bars and reinstated other restrictions amid a jump in coronavirus counts.

The Dow Jones Industrial Average also erased an early loss to end the day at 26,642.59, up 556.79 points, or 2.1%. Big tech-oriented stocks lagged behind, though, in a turnaround from their remarkably resilient run through the pandemic. That held the Nasdaq composite to a more modest gain of 97.73, or 0.9%, to 10,488.58.

The S&P 500 added 42.30 points to 3,197.52, and six out of seven stocks in the index were higher. The move left it 0.4% higher for the week after two yo-yo days.

After the market closed, shares of Moderna jumped in after-hours trading after a COVID-19 vaccine it's developing with the National Institutes of Health revved up people’s immune systems just the way scientists had hoped. The experimental vaccine will start its most important step around July 27: a 30,000-person study to prove if the shots really are strong enough to protect against the coronavirus.

Tuesday's unsettled market moves came as earnings reporting season kicked off. Three of the nation’s biggest banks painted a mixed picture of how badly the coronavirus pandemic is ripping through their businesses.

“The earnings season is off to a very guarded start,” said J.J. Kinahan, chief market strategist at TD Ameritrade.

He pointed to cautious forecasts from companies that see the economy possibly taking a step back because of worsening COVID-19 trends, or at least taking longer to recover than expected.

“The fact that they are prepared for bad scenarios is helping to give the market a little confidence,” he said.

Like the broader market, financial stocks drifted between gains and losses for much of the day before turning higher in the afternoon. JPMorgan Chase, Wells Fargo and Citigroup said they collectively set aside nearly $27 billion during the second quarter to cover loans potentially going bad due to the recession.

But investors took very different approaches to each of them. JPMorgan Chase rose 0.6% after it said it made a record amount of revenue from April through June. Its profit for the latest quarter also beat analysts’ forecasts, even though it roughly halved from a year ago.

Wells Fargo, though, dropped 4.6% after it said it expects to cut its dividend. “Our view of the length and severity of the economic downturn has deteriorated considerably,” CEO Charlie Scharf said.

Citigroup fell 3.9% after CEO Michael Corbat said its overall business performance was strong last quarter, though net income dropped 73% from a year ago largely due to the $7.9 billion it set aside for loans potentially going bad.

Delta Air Lines lost 2.6% after its earnings and revenue for the latest quarter fell short of Wall Street’s already very low expectations. The pandemic is keeping fliers on the ground, and Delta’s passenger count plunged 93% during the quarter from a year earlier. CEO Ed Bastian said it could be two years before the airline sees a sustainable recovery.

Stocks have been mostly churning in place since early June. That’s when the S&P 500 pulled back within 4.5% of its record high set in February, after earlier being down nearly 34%. The index is now 5.6% below its record.

Pulling stocks higher has been a budding economic recovery, with the job market, retail sales and other measures of the economy halting their plunge and beginning to resume growth. Underlying it all is massive aid for the economy from central banks and governments around the world.

But pushing stocks down are accelerating coronavirus counts in hot spots around the world, which threatens to halt the recovery just as it got going. California demonstrated on Monday how dangerous that can be when the governor of the country’s largest state economy ordered indoor dining and other economic activity closed.

The worry is that the continuing pandemic could push states across the Sun Belt to roll back reopenings of their economies.

That’s why COVID-19 trends — along with the potential for more aid for the economy from Congress — will matter much more for markets in upcoming weeks than what companies say about their second-quarter results, said Keith Buchanan, portfolio manager at Globalt Investments.

“The progression of the virus should still be front and center for what is dictating and going to continue to dictate our prospects for economic growth going forward,” he said.

In Europe, France’s CAC 40 fell 1%, and Germany’s DAX lost 0.8%. The FTSE 100 in London added 0.1%.

In Asia, Japan’s Nikkei 225 fell 0.9%, South Korea’s Kospi slipped 0.1% and Hong Kong’s Hang Seng dropped 1.1%.

The yield on the 10-year Treasury held at 0.62% after rallying back from a morning dip to 0.60%. It tends to move with investors’ expectations of the economy and inflation.

Benchmark U.S. crude oil rose 19 cents to settle at $40.29 per barrel. Brent oil, the international standard, rose 18 cents to $42.90 a barrel.


----------



## bigdog

Markets worldwide rallied on rising hopes for a COVID-19 vaccine Wednesday, and the S&P 500 climbed back to where it was a few days after it set its record early this year.

Investors see a vaccine as the best way for the economy and human life to get back to normal, and researchers said late Tuesday that one developed by the National Institutes of Health and Moderna revved up people’s immune systems in early testing, as hoped. The S&P 500 rose 0.9% to pull within 4.7% of its all-time high set in February.

The Dow Jones Industrial Average climbed 227.51 points, or 0.9%, to 26,870.10, and the Nasdaq composite gained 61.91, or 0.6%, to 10,550.49. During the morning, the S&P 500 touched its highest level since Feb. 25, and it ended the day at 3,226.56, up 29.04.

Several things helped lift the market, including stronger-than-expected reports on the economy and on corporate profits from Goldman Sachs and others. But the vaccine hopes were at the center of the rise, which meant the market’s leaderboard was dominated by companies that would benefit most from a return to normal life. They included cruise-ship operators, airlines, retailers and hotel chains.

Stocks of smaller companies also leaped much more than the rest of the market, an indication of rising expectations for the economy. The Russell 2000 index of small-cap stocks jumped 3.5%, a turnaround from earlier months when big, tech-oriented companies were carrying the market.

“Investors are gaining more confidence of the longer-term direction of the market,” said Sam Stovall, chief investment strategist at CFRA. “It’s not just the behemoth tech stocks that are likely to lead share prices higher, but that mid- and small-cap stocks will also benefit, not only from an economic recovery, but also from very low interest rates.”

Winners of the stay-at-home economy created by quarantines and lockdowns, meanwhile, lagged behind. Clorox, Netflix and Amazon all fell.

Wednesday’s lift for markets, though, came only after another day of choppy trading. The S&P 500 shot to a quick 1.3% gain shortly after trading began, only to give up nearly all of it before swinging a couple more times.

*ASX 200 expected to rise again.*
The ASX 200 index looks set to continue its positive run on Thursday. According to the latest SPI futures, the ASX 200 is poised to open the day 22 points or 0.35% higher this morning. This follows another solid night of trade on Wall Street which saw the Dow Jones rise 0.9%, the S&P 500 jump 0.9%, and the Nasdaq climb 0.6%. Promising coronavirus vaccine news helped drive markets higher.










https://www.usnews.com/news/busines...ostly-higher-on-hopes-for-coronavirus-vaccine

*Stocks Rise on Vaccine Hopes; S&P 500 Back Within 5% of High*
Markets worldwide rallied on rising hopes for a COVID-19 vaccine Wednesday, and the S&P 500 climbed back to where it was a few days after it set its record early this year.
By Associated Press, Wire Service Content July 15, 2020, at 4:36 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Markets worldwide rallied on rising hopes for a COVID-19 vaccine Wednesday, and the S&P 500 climbed back to where it was a few days after it set its record early this year.

Investors see a vaccine as the best way for the economy and human life to get back to normal, and researchers said late Tuesday that one developed by the National Institutes of Health and Moderna revved up people’s immune systems in early testing, as hoped. The S&P 500 rose 0.9% to pull within 4.7% of its all-time high set in February.

The Dow Jones Industrial Average climbed 227.51 points, or 0.9%, to 26,870.10, and the Nasdaq composite gained 61.91, or 0.6%, to 10,550.49. During the morning, the S&P 500 touched its highest level since Feb. 25, and it ended the day at 3,226.56, up 29.04.

Several things helped lift the market, including stronger-than-expected reports on the economy and on corporate profits from Goldman Sachs and others. But the vaccine hopes were at the center of the rise, which meant the market’s leaderboard was dominated by companies that would benefit most from a return to normal life. They included cruise-ship operators, airlines, retailers and hotel chains.

Stocks of smaller companies also leaped much more than the rest of the market, an indication of rising expectations for the economy. The Russell 2000 index of small-cap stocks jumped 3.5%, a turnaround from earlier months when big, tech-oriented companies were carrying the market.

“Investors are gaining more confidence of the longer-term direction of the market,” said Sam Stovall, chief investment strategist at CFRA. “It’s not just the behemoth tech stocks that are likely to lead share prices higher, but that mid- and small-cap stocks will also benefit, not only from an economic recovery, but also from very low interest rates.”

Winners of the stay-at-home economy created by quarantines and lockdowns, meanwhile, lagged behind. Clorox, Netflix and Amazon all fell.

Wednesday’s lift for markets, though, came only after another day of choppy trading. The S&P 500 shot to a quick 1.3% gain shortly after trading began, only to give up nearly all of it before swinging a couple more times.

It’s the latest bout of erratic trading for the market, which has been largely churning in place for weeks. The S&P 500 is almost exactly where it was on June 8. Often, it’s swung sharply within a single day as hopes for a budding economic recovery collide with continuing increases in coronavirus counts.

On Wednesday, as Wall Street was losing its stride, Florida announced another daily death toll of more than 100 and Oklahoma’s governor said he tested positive for the coronavirus.

“People should be thinking about a balance of optimism and realism,” said Nela Richardson, investment strategist at Edward Jones.

She said there is a “long climb” to go for the economy’s reopening and pointed to other risks for the market, including U.S. tensions with China.

“We think it’s going to be a pretty bumpy road ahead,” she said.

Worries also remain high that the stock market has gone overboard in its rally: It has taken less than four months for the S&P 500 to almost return to its record after being down nearly 34%. But it could take years for the economy and corporate profits to get back to where they were before the pandemic struck. .

Markets nevertheless climbed Wednesday, bolstered by the optimism about a possible vaccine and encouraging reports on the economy and corporate earnings.

The nation’s industrial production improved more in June than economists expected. So did manufacturing in New York state earlier this month.

Goldman Sachs rose 1.4% after it reported much stronger results for the latest quarter than analysts expected. Financial stocks in general did well, with those in the S&P 500 up 1.9%.

Other areas of the market where profits are closely tied to the strength of the economy were also particularly strong. Industrial stocks rose 2.6% for the biggest gain among the 11 sectors that make up the S&P 500, and energy producers gained 2%.

Royal Caribbean Cruises surged 21.2% to lead a group of stocks that stand to gain if shoppers and travelers get back to life as it was before the pandemic. American Airlines rose 16.2%, Gap jumped 12.7% Live Nation Entertainment rose 11.7% and Hilton Worldwide added 10.1%.

The yield on the 10-year Treasury rose to 0.63% from 0.61% late Tuesday. It tends to move with investors’ expectations for the economy and inflation.

In Europe, Germany’s DAX returned 1.8%, while the CAC 40 in Paris advanced 2%. Britains FTSE 100 picked up 1.8%.

In Asia, Tokyo’s Nikkei 225 advanced 1.6% after the Bank of Japan kept its ultra-easy monetary stance unchanged. It forecast that the economy would improve later in the year, assuming there is no major “second wave” of outbreaks of the new coronavirus.

South Korea’s Kospi rose 0.8%, and Hong Kong’s Hang Seng was nearly unchanged.

Stocks in Shanghai slipped 1.6% after President Donald Trump signed a bill and executive order that he says will hold China accountable for its oppressive actions against the people of Hong Kong.

The legislation and order are part of an escalating diplomatic offensive against China that is adding to chronic tensions over trade and other issues.

Benchmark U.S. crude oil rose 91 cents to settle at $41.20 per barrel. Brent oil, the international standard, picked up 89 cents to settle at $43.79 per barrel.


----------



## bigdog

Wall Street stumbled on Thursday after a report showed layoffs continue to sweep the country at a stubbornly steady pace, one of several mixed reports to highlight the uncertain path ahead for the economy.

The S&P 500 slipped 0.3%, following up on declines across Europe and Asia, as a worldwide rally faded. Stocks in China fell particularly sharply after a report showed shoppers there are slow to spend even though its economy returned to growth. Treasury yields also lost ground in a sign of increased caution.

Heavy losses for travel-related stocks helped pull the S&P 500 to its first loss in three days, down 10.99 to 3,215.57. Cruise-ship operators, airlines and hotels gave up chunks of their big gains from a day earlier.

Drops for Microsoft and other tech titans also weighed heavily because they’re the largest stocks in the index. They also sent the Nasdaq composite, which set a record last week, to a larger loss than other indexes. It fell 76.66, or 0.7%, to 10,473.83. The Dow Jones Industrial Average lost 135.39 points, or 0.5%, to 26,734.71.

“It’s just a pause,” said Adam Taback, chief investment officer for Wells Fargo Private Bank. “I wouldn’t read too much into it. The Nasdaq continues to be under a little bit of pressure, but it’s due for a breather as well.”

It marks the latest ebb for markets, which have mostly been churning up and down for a little more than a month. Pushing stocks higher have been signs of strengthening in the economy as lockdowns have eased, along with massive aid from the Federal Reserve and Congress. Hopes for a potential COVID-19 vaccine also helped the S&P 500 erase most of an earlier 34% drop from its record, down to 5%.

But pulling markets lower has been the relentless rise of coronavirus counts across much of the United States, which threatens to undo all the improvements. California has already brought back orders for bars and other businesses to close due to a surge in cases, and the worry is other states will have to follow suit.

Reports on Thursday showed that layoffs across the country remain stubbornly high, with 1.3 million workers filing for unemployment benefits last week. That’s down slightly from the prior week, but only by 10,000. The improvement was also weaker than economists expected.

Worries are already high about joblessness, as $600 in weekly unemployment benefits provided by the federal government is set to expire this month.

*ASX 200 expected to rise.*
The ASX 200 index looks set to rise this morning despite a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 14 points or 0.25% higher this morning. On Wall Street the Dow Jones fell 0.5%, the S&P 500 dropped 0.35%, and the Nasdaq tumbled 0.7% lower.











https://www.usnews.com/news/busines...es-fall-as-investors-mull-chinese-growth-data

*Stocks Dip on Wall Street as Global Rally Fades, Led by Tech*
Wall Street drifted to a lower close Thursday after mixed reports on the economy highlighted its uncertain path, including one showing that layoffs continue at a stubbornly steady pace.
By Associated Press, Wire Service Content July 16, 2020, at 5:00 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Wall Street stumbled on Thursday after a report showed layoffs continue to sweep the country at a stubbornly steady pace, one of several mixed reports to highlight the uncertain path ahead for the economy.

The S&P 500 slipped 0.3%, following up on declines across Europe and Asia, as a worldwide rally faded. Stocks in China fell particularly sharply after a report showed shoppers there are slow to spend even though its economy returned to growth. Treasury yields also lost ground in a sign of increased caution.

Heavy losses for travel-related stocks helped pull the S&P 500 to its first loss in three days, down 10.99 to 3,215.57. Cruise-ship operators, airlines and hotels gave up chunks of their big gains from a day earlier.

Drops for Microsoft and other tech titans also weighed heavily because they’re the largest stocks in the index. They also sent the Nasdaq composite, which set a record last week, to a larger loss than other indexes. It fell 76.66, or 0.7%, to 10,473.83. The Dow Jones Industrial Average lost 135.39 points, or 0.5%, to 26,734.71.

“It’s just a pause,” said Adam Taback, chief investment officer for Wells Fargo Private Bank. “I wouldn’t read too much into it. The Nasdaq continues to be under a little bit of pressure, but it’s due for a breather as well.”

It marks the latest ebb for markets, which have mostly been churning up and down for a little more than a month. Pushing stocks higher have been signs of strengthening in the economy as lockdowns have eased, along with massive aid from the Federal Reserve and Congress. Hopes for a potential COVID-19 vaccine also helped the S&P 500 erase most of an earlier 34% drop from its record, down to 5%.

But pulling markets lower has been the relentless rise of coronavirus counts across much of the United States, which threatens to undo all the improvements. California has already brought back orders for bars and other businesses to close due to a surge in cases, and the worry is other states will have to follow suit.

Reports on Thursday showed that layoffs across the country remain stubbornly high, with 1.3 million workers filing for unemployment benefits last week. That’s down slightly from the prior week, but only by 10,000. The improvement was also weaker than economists expected.

Worries are already high about joblessness, as $600 in weekly unemployment benefits provided by the federal government is set to expire this month.

But other reports painted a less discouraging picture. Sales at stores and online retailers grew more strongly last month than economists expected, particularly for clothing. It’s the second straight month of growth for retail sales following April’s plummet.

The yield on the 10-year Treasury fell to 0.61% from 0.63% late Wednesday. It tends to move with investors’ expectations for the economy and inflation.

Tech stocks were among the market’s hardest hit, a turnaround from their remarkably resilient run through much of the pandemic.

Microsoft fell 2%, and Apple lost 1.2%. It’s a rare step back for the giants, which are both still up roughly 30% for 2020 on expectations that they can keep growing almost regardless of the pandemic.

On the winning side were several financial stocks, whose profit reports this week have helped kick off earnings season for the market.

Morgan Stanley rose 2.5% after it reported much stronger profit for the latest quarter than analysts expected. The Hartford Financial Services Group jumped 4.7% for the largest gain in the S&P 500 after it said it expects to report second-quarter results above what Wall Street had been forecasting.

Bank of America also turned in a better profit report than expected, but it fell 2.7% after it set aside $4 billion to cover loans potentially going bad amid the recession. That helped keep financial stocks overall in the S&P 500 down 0.1%, after losing an earlier gain.

In Asia, stocks in Shanghai slumped 4.5% for their worst day since February. It’s the third straight drop for them as some froth blows out of the market following a 15% surge in less than two weeks.

Tokyo’s Nikkei 225 lost 0.8%, the Hang Seng in Hong Kong fell 2% and Seoul’s Kospi shed 0.8%.

In Europe, Germany’s DAX lost 0.4%, and France’s CAC 40 was down 0.5%. The FTSE 100 in London dropped 0.7%.

Benchmark U.S. crude oil lost 45 cents to settle at $40.75 per barrel. Brent crude, the international standard, fell 42 cents to $43.37 a barrel.


----------



## bigdog

Wall Street ticked higher Friday to close out its third straight winning week, one punctuated by hopes that the economy can continue to steady itself despite the pandemic.

The S&P 500 rose 9.16 points, or 0.3%, to 3,224.73 after yet another day of wobbly trading. The Dow Jones Industrial Average slipped 62.76, or 0.2%, to 26,671.95, while the Nasdaq composite added 29.36, or 0.3%, to 10,503.19. Most stocks across the market rose.

Trading was muted across other markets, too, with stocks overseas, oil and gold making relatively modest moves. Even China’s market held steady: Stocks in Shanghai inched up 0.1% following a run earlier this month where their average daily move was more than 2%.

Friday’s meandering trading came after reports showed a strengthening in U.S. home building activity but also a weakening in consumer sentiment. They’re the latest in a stream of data that has shown how uncertain the path is for the economy, as the continuing rise in coronavirus counts threatens to undo improvements that seemed to have taken root in the economy.

“The market just continues to try and get its finger on the pulse,” said James McCann, senior global economist at Aberdeen Standard Investments.

“The renewed spread of the virus and degree of community infection means the pace of recovery we’ve had is just not going to be able to hold up anymore,” he said. “A fairly decent chunk of U.S. activity is at risk.”

Amid the uncertainty, though, nearly three in five stocks rose within the S&P 500.

Hope that Congress can agree soon on more aid for the economy helped to support the market, said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. A weekly $600 in extra benefits for laid-off workers from the federal government is about to end, unless Washington acts.

“That’s certainly what has buoyed the optimism, hope for a stimulus before month’s end,” Haworth said.

BlackRock rose 3.7% for one of the larger gains in the S&P 500 after the investment firm reported a stronger profit for the spring than analysts expected. J.B. Hunt Transport Services also reported a bigger profit than Wall Street forecast, and it rose 3.2%.

This week marked the start of earnings reporting season, and the nation’s biggest banks were some of the early headliners. Several warned they had to set aside billions of dollars to cover loans potentially going bad due to the recession. But investment banks also said their trading operations brought in more revenue than analysts had expected.










https://www.usnews.com/news/busines...an-stock-prices-mixed-after-wall-street-slips

*Wall Street Ticks Up; S&P 500 Nets 3rd Straight Weekly Gain*
Wall Street ended another wobbly day broadly higher, giving the S&P 500 its third straight weekly gain.
By Associated Press, Wire Service Content July 17, 2020, at 4:33 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Wall Street ticked higher Friday to close out its third straight winning week, one punctuated by hopes that the economy can continue to steady itself despite the pandemic.

The S&P 500 rose 9.16 points, or 0.3%, to 3,224.73 after yet another day of wobbly trading. The Dow Jones Industrial Average slipped 62.76, or 0.2%, to 26,671.95, while the Nasdaq composite added 29.36, or 0.3%, to 10,503.19. Most stocks across the market rose.

Trading was muted across other markets, too, with stocks overseas, oil and gold making relatively modest moves. Even China’s market held steady: Stocks in Shanghai inched up 0.1% following a run earlier this month where their average daily move was more than 2%.

Friday’s meandering trading came after reports showed a strengthening in U.S. home building activity but also a weakening in consumer sentiment. They’re the latest in a stream of data that has shown how uncertain the path is for the economy, as the continuing rise in coronavirus counts threatens to undo improvements that seemed to have taken root in the economy.

“The market just continues to try and get its finger on the pulse,” said James McCann, senior global economist at Aberdeen Standard Investments.

“The renewed spread of the virus and degree of community infection means the pace of recovery we’ve had is just not going to be able to hold up anymore,” he said. “A fairly decent chunk of U.S. activity is at risk.”

Amid the uncertainty, though, nearly three in five stocks rose within the S&P 500.

Hope that Congress can agree soon on more aid for the economy helped to support the market, said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. A weekly $600 in extra benefits for laid-off workers from the federal government is about to end, unless Washington acts.

“That’s certainly what has buoyed the optimism, hope for a stimulus before month’s end,” Haworth said.

BlackRock rose 3.7% for one of the larger gains in the S&P 500 after the investment firm reported a stronger profit for the spring than analysts expected. J.B. Hunt Transport Services also reported a bigger profit than Wall Street forecast, and it rose 3.2%.

This week marked the start of earnings reporting season, and the nation’s biggest banks were some of the early headliners. Several warned they had to set aside billions of dollars to cover loans potentially going bad due to the recession. But investment banks also said their trading operations brought in more revenue than analysts had expected.

On the losing end Friday was Netflix, which dropped 6.5% for the largest loss in the S&P 500. Its forecast for new subscribers during the summer fell short of Wall Street’s own expectations. It’s a relatively rare step down for Netflix, which is still up a bit more than 50% for 2020 so far.

This week has seen some weakness for big tech-oriented stocks generally, after they had glided through most of the pandemic. Investors have continued to add to bets that Apple, Microsoft and other giants can keep growing almost regardless of the economy. The big run has critics saying they’ve become too expensive, even after accounting for the huge profits that they produce.

Microsoft slipped 0.5% Friday, while Apple dipped 0.2%. The declines helped bring the loss for S&P 500 tech stocks for this week to 1.2%.

The overall S&P 500 index gained 1.2% for the week. It’s rallied back to within 4.8% of its record set in February and is back to where it was in early June.

Pushing stocks up recently have been improvements in hiring, retail sales and other parts of the economy, along with rising hopes for a COVID-19 vaccine. Underlying it all is massive aid for the economy and the promise of nearly zero interest rates from the Federal Reserve.

But pulling stocks down at the same time has been the relentless rise of coronavirus counts across much of the country. California has already ordered bars and other businesses to close down again amid a spike in infections, and the worry is that wider shutdowns of the economy may be inevitable.

“We may settle at a level somewhat below where we were a year ago,” said Jimmy Chang, chief investment strategist at Rockefeller Asset Management. “It’s hard to get back to where we were without a vaccination.”

The yield on the 10-year Treasury held steady at 0.61%.

In the commodities markets, gold for delivery in August rose $9.70 to settle at $1810.00 per ounce. A barrel of U.S oil for August delivery slipped 16 cents to settle at $40.59. Brent crude, the international standard, fell 23 cents to $43.14 a barrel.

In Europe, Germany’s DAX returned 0.3%, and France’s CAC 40 slipped 0.3%. The FTSE 100 in London added 0.6%.

In Asia, Japan’s Nikkei 225 slipped 0.3%, South Korea’s Kospi added 0.8% and the Hang Seng in Hong Kong rose 0.5%.

1098


----------



## bigdog

*ASX 200 set to edge higher.*
The ASX 200 looks set to edge higher this morning after a mixed end to the week on Wall Street. According to the latest SPI futures, the benchmark index is expected to open the week 2 points higher. On Wall Street the Dow Jones fell 0.2%, the S&P 500 rose 0.3%, and the Nasdaq pushed 0.3% higher.


----------



## bigdog

Big technology companies powered stocks higher on Wall Street Monday, adding to the market's gains after a three-week winning streak.

The S&P 500 rose 0.8% after being down 0.3% in the early going. Gains by technology and communication stocks and companies that rely on consumer spending outweighed losses elsewhere in the market. The rally, which gained strength in the final hour of trading, nudged the benchmark S&P 500 index to a slight gain for the year and drove the Nasdaq composite to an all-time high.

Amazon led the way higher in the S&P 500 with a 7.9% gain. Citrix Systems was close behind finishing 7.6% higher. Microsoft also helped lift the market, rising 4.3%. Noble Energy climbed 5.4% after the company agreed to be acquired by Chevron for $5 billion.

Technology and communications stocks and big e-commerce retailers like Amazon have benefited this year as the pandemic has forced people to largely stay home and rely increasingly on the internet for shopping, work and entertainment. Among the losers have been banks, airlines and cruise lines.

“Last week, you had the value trade come back for a few days,” said Tom Martin, senior portfolio manager with Globalt Investments. “The pattern seems to be that most days lately have been favoring growth over value.”

The S&P 500 gained 27.11 points to 3,251.84. The Dow Jones Industrial Average, which was down for most of the day, added 8.92 points, or less than 0.1%, to 26,680.87.

The Nasdaq had its best day since the end of April. It climbed 263.90 points, or 2.5%, to 10,767.09. The Russell 2000 index of small company stocks gave up 5.36 points, or 0.4%, to 1,467.95.

Treasury yields were mixed, reflecting caution among investors. European markets closed mostly higher and Asian markets ended mixed.

Wall Street is coming off its third straight weekly gain following improvements in hiring, retail sales and other parts of the economy, along with rising hopes for a COVID-19 vaccine. Underlying it all is massive aid for the economy and the promise of nearly zero interest rates from the Federal Reserve. The overall S&P 500 index has rallied back to within 4% of its record set in February and is back to where it was in early June.

*ASX 200 expected to rebound.*
It looks set to be a positive day of trade for the ASX 200 index on Tuesday. According to the latest SPI futures, the benchmark index is expected to open the day 45 points or 0.75% higher at the open. This follows a positive start to the week on Wall Street which saw the Dow Jones edge higher, the S&P 500 rise 0.85%, and the Nasdaq jumped 2.5% higher. The S&P 500’s gain means it is now in positive territory for 2020.











https://www.usnews.com/news/busines...mixed-as-investors-eye-eu-meeting-on-pandemic

*Tech Drives Indexes Higher on Wall Street After Choppy Start*
Big technology companies powered stocks higher on Wall Street Monday, extending the market's gains after a three-week winning streak.
By Associated Press, Wire Service Content July 20, 2020, at 4:33 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Big technology companies powered stocks higher on Wall Street Monday, adding to the market's gains after a three-week winning streak.

The S&P 500 rose 0.8% after being down 0.3% in the early going. Gains by technology and communication stocks and companies that rely on consumer spending outweighed losses elsewhere in the market. The rally, which gained strength in the final hour of trading, nudged the benchmark S&P 500 index to a slight gain for the year and drove the Nasdaq composite to an all-time high.

Amazon led the way higher in the S&P 500 with a 7.9% gain. Citrix Systems was close behind finishing 7.6% higher. Microsoft also helped lift the market, rising 4.3%. Noble Energy climbed 5.4% after the company agreed to be acquired by Chevron for $5 billion.

Technology and communications stocks and big e-commerce retailers like Amazon have benefited this year as the pandemic has forced people to largely stay home and rely increasingly on the internet for shopping, work and entertainment. Among the losers have been banks, airlines and cruise lines.

“Last week, you had the value trade come back for a few days,” said Tom Martin, senior portfolio manager with Globalt Investments. “The pattern seems to be that most days lately have been favoring growth over value.”

The S&P 500 gained 27.11 points to 3,251.84. The Dow Jones Industrial Average, which was down for most of the day, added 8.92 points, or less than 0.1%, to 26,680.87.

The Nasdaq had its best day since the end of April. It climbed 263.90 points, or 2.5%, to 10,767.09. The Russell 2000 index of small company stocks gave up 5.36 points, or 0.4%, to 1,467.95.

Treasury yields were mixed, reflecting caution among investors. European markets closed mostly higher and Asian markets ended mixed.

Wall Street is coming off its third straight weekly gain following improvements in hiring, retail sales and other parts of the economy, along with rising hopes for a COVID-19 vaccine. Underlying it all is massive aid for the economy and the promise of nearly zero interest rates from the Federal Reserve. The overall S&P 500 index has rallied back to within 4% of its record set in February and is back to where it was in early June.

Still, worries remain that the rise of coronavirus counts across much of the country will derail efforts to reopen businesses shut down due to the pandemic.

“Until we have more clarity around all these different issues, it wouldn’t surprise us if the market ended the year right where we are today,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

Investors have an eye on Washington as Congress returns this week to begin work with the White House on another trillion-dollar economic relief package against the backdrop a renewed surge in the outbreak. The U.S. has now registered more coronavirus infections and a higher death count of 140,500 than any other country.

The Fed’s efforts to support markets and expectations that Washington will deliver more financial aid to help Americans weather the economic downturn has been key in keeping markets mostly pushing higher since stocks plunged in March.

“If markets are allowed to trade in a vacuum without policy, you could see much more volatility,” Samana said.

Traders were also looking ahead to a busy week of earnings reports from major U.S. companies, including Coca-Cola and Microsoft.

Expectations are low for companies’ performance in the April-June quarter due to the pandemic, given the economic fallout from the broad business shutdowns and the rapid increase in unemployment as millions of Americans were laid off or furloughed. But investors want to hear what company CEOs have to say about how they expect their businesses to fare in the second half of this year and in 2021.

“The question is what are the early indications of the third quarter shaping up like?" Martin said.

The yield on the 10-year Treasury slipped to 0.61% from 0.63% late Friday.

In the commodities markets, the price of benchmark U.S oil for August delivery reversed an early slide, gaining 22 cents to settle at $40.81 a barrel. Brent crude oil for September delivery rose 14 cents to $43.28 a barrel.


----------



## bigdog

Wall Street extended its recent run of gains Tuesday, despite a late stumble that nearly wiped out the stock market's gains for the day.

The S&P 500 rose 0.2% after having been up 0.8% in the early going. Banks and energy companies led the gains, outweighing losses in technology stocks, which pulled the Nasdaq composite lower. Small company stocks did better than the broader market.

The latest gains followed strength in markets overseas as investors welcomed news that European leaders have agreed on a budget and coronavirus relief fund worth more than $2 trillion. The agreement comes as pressure intensifies on Congress and the White House to reach a deal on another economic aid package before a temporary boost in aid for unemployed Americans expires at the end of the month.

Hope for more economic aid from the government, following Europe’s example, helped put investors in a buying mood Tuesday, said Kristina Hooper, chief global market strategist for Invesco.

“The U.S. does not have the safety net that Europe has,” she said. “This is an environment in which there is going to be a need for more fiscal stimulus or you could see a real hit to consumers.”

The S&P 500 gained 5.46 points to 3,257.30. It was the index's third-straight gain. The Dow Jones Industrial Average rose 159.53 points, or 0.6%, to 26,840.40. The Nasdaq dropped 86.73 points, or 0.8%, to 10,680.36, a day after notching its best day since the end of April and its latest all-time high.

Small company stocks surged, driving the Russell 2000 index up 19.56 points, or 1.3%, to 1,487.51. Indexes in Europe and Asia closed higher.

Treasury yields were mostly lower and the price of gold rose 1.5%, signs of continuing caution in the market.

After following up a 20% drop in the first three months of the year with a nearly 20% gain over the April-June quarter, Wall Street has continued its winning ways so far in July. The S&P 500 has notched a weekly gain the past three weeks as investors cheered improvements in hiring, retail sales and other parts of the economy, along with rising hopes for a COVID-19 vaccine.

The Federal Reserve’s efforts to support markets and expectations that Washington will deliver more financial aid to help Americans weather the economic downturn have been key in keeping markets mostly pushing higher since stocks plunged in March.

The overall S&P 500 index has rallied back to within 3.9% of its record set in February and is back to where it was in early June.

*ASX 200 expected to give back some gains.*
The ASX 200 index looks set to give back some of its gains on Wednesday. According to the latest SPI futures, the benchmark index is expected to open the day 62 points or 1% lower. This follows a mixed night of trade on Wall Street which saw the Dow Jones climb 0.6% higher, the S&P 500 rise 0.2%, and the Nasdaq drop 0.8%.










https://www.usnews.com/news/busines...se-on-vaccine-hopes-tech-rally-on-wall-street

*Banks, Energy Companies Lead Stocks Higher on Wall Street*
Stocks closed mostly higher on Wall Street Tuesday despite a late stumble that nearly wiped out the market's gains for the day.
By Associated Press, Wire Service Content July 21, 2020, at 5:24 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Wall Street extended its recent run of gains Tuesday, despite a late stumble that nearly wiped out the stock market's gains for the day.

The S&P 500 rose 0.2% after having been up 0.8% in the early going. Banks and energy companies led the gains, outweighing losses in technology stocks, which pulled the Nasdaq composite lower. Small company stocks did better than the broader market.

The latest gains followed strength in markets overseas as investors welcomed news that European leaders have agreed on a budget and coronavirus relief fund worth more than $2 trillion. The agreement comes as pressure intensifies on Congress and the White House to reach a deal on another economic aid package before a temporary boost in aid for unemployed Americans expires at the end of the month.

Hope for more economic aid from the government, following Europe’s example, helped put investors in a buying mood Tuesday, said Kristina Hooper, chief global market strategist for Invesco.

“The U.S. does not have the safety net that Europe has,” she said. “This is an environment in which there is going to be a need for more fiscal stimulus or you could see a real hit to consumers.”

The S&P 500 gained 5.46 points to 3,257.30. It was the index's third-straight gain. The Dow Jones Industrial Average rose 159.53 points, or 0.6%, to 26,840.40. The Nasdaq dropped 86.73 points, or 0.8%, to 10,680.36, a day after notching its best day since the end of April and its latest all-time high.

Small company stocks surged, driving the Russell 2000 index up 19.56 points, or 1.3%, to 1,487.51. Indexes in Europe and Asia closed higher.

Treasury yields were mostly lower and the price of gold rose 1.5%, signs of continuing caution in the market.

After following up a 20% drop in the first three months of the year with a nearly 20% gain over the April-June quarter, Wall Street has continued its winning ways so far in July. The S&P 500 has notched a weekly gain the past three weeks as investors cheered improvements in hiring, retail sales and other parts of the economy, along with rising hopes for a COVID-19 vaccine.

The Federal Reserve’s efforts to support markets and expectations that Washington will deliver more financial aid to help Americans weather the economic downturn have been key in keeping markets mostly pushing higher since stocks plunged in March.

The overall S&P 500 index has rallied back to within 3.9% of its record set in February and is back to where it was in early June.

Still, worries remain that the rise of coronavirus counts across much of the country will derail efforts to reopen businesses shut down due to the pandemic. That’s why Wall Street is betting on Washington to deliver another trillion-dollar round of economic aid.

“We still have areas of the U.S. that have become hotspots, there are localized lockdowns and we expect the employment landscape will not be able to heal until we have the economy open completely,” said Quincy Krosby, chief market strategist at Prudential Financial. “The larger the (aid) package, the more it will continue to cushion the downside ramifications of the epidemic.”

Energy companies were the biggest gainers among the 11 sectors in the S&P 500, by far, as the price of oil headed higher, an encouraging sign that markets hope economies will continue to recover. Occidental Petroleum led all other stocks in the S&P 500, vaulting nearly 11%. More than a dozen other energy companies also moved sharply higher.

Technology stocks and companies that rely on consumer spending, sectors that are up the most this year, gave up some of their gains after powering a rally a day earlier.

The rise in financial, energy and industrial stocks is a reversal in the market’s prevailing trend since the pandemic struck, which has been to favor companies that benefit from Americans largely stuck at home and increasingly relying upon technology, digital communication and e-commerce.

“Today you’re also seeing small-cap names move up at the expense of the tech names,” Krosby said.

Investors also had their eye on the latest batch of quarterly report cards from companies. Coca-Cola rose 2.3% and Philip Morris International gained 4.2% after the companies reported earnings in the latest quarter that beat analysts’ forecasts.

Among the other big companies reporting results this week: Microsoft and Tesla issue results on Wednesday, Intel, AT&T and Twitter report on Thursday and Verizon Communications and American Express report earnings Friday.

The yield on the 10-year Treasury slipped to 0.59% from 0.61% late Monday. The yield is a benchmark for interest rates on mortgages and other consumer loans.

In the commodities markets, the price of benchmark U.S oil rose 2.8% to settle at $41.96 a barrel. Brent crude oil, the international standard, gained 2.4% to close at $44.32 a barrel.


----------



## bigdog

Wall Street capped a choppy day of trading Wednesday with more gains for stocks as investors sized up a mix of company earnings reports and another flare-up in tensions between Washington and Beijing.

The S&P 500 rose 0.6%, its fourth gain in a row, after wavering between gains and losses for much of the afternoon. Strength in technology and health care stocks outweighed losses in energy companies, banks and elsewhere in the market. Treasury yields fell slightly, a sign of caution in the market.

“It’s a relatively muted day in terms of volatility,” said Bill Northey, senior investment director at U.S. Bank Wealth Management. “Having come off a furious rally off the March 23 lows, the market is clearly in a period of consolidation and assessing second-quarter earnings results.”

The S&P 500 gained 18.72 points to 3,276.02. The benchmark index is now within 3.3% of the all-time high it set in February. The Dow Jones Industrial Average rose 165.44 points, or 0.6%, to 27,005.84.

The Nasdaq recovered from an early dip to add 25.76 points, or 0.2%, to 10,706.13. The Russell 2000 index of small company stocks picked up 2.63 points, or 0.2%, to 1,490.14. Indexes in Europe fell. Asia ended mixed.

Homebuilders marched broadly higher after the National Association of Realtors said sales of previously occupied U.S. homes climbed last month by a robust 20.7%. The gain is an encouraging sign for the housing market after the pandemic caused sales to plummet in the prior three months.

Despite the sharp monthly increase, purchases are still down 11.3% from a year ago, when homes had sold at an annual pace of 5.32 million. Builder NVR led the sector, surging 10.7%.

United Airlines slid 4.2% after reporting that its revenue plunged 87% in the second quarter as the coronavirus throttled air travel. Pfizer rose 5.1% after the U.S. government signed a contract with the company to deliver the first 100 million doses of a COVID-19 vaccine it’s developing by December.

Traders also had their eye Wednesday on a flare-up in tensions between Washington and Beijing. The U.S. ordered China to close its consulate in Houston, saying it was necessary to protect American intellectual property. China said it would retaliate.

U.S.-China trade relations will probably start to factor back into the market somewhat, but the virus and its impact remain the main driver of where the markets go, said Liz Ann Sonders, chief investment strategist at Charles Schwab.

*ASX 200 set to rise.*
It looks set to be a better day of trade for the ASX 200 on Thursday. According to the latest SPI futures, the benchmark index is expected to open the day 8 points or 0.13% higher. This follows a decent night of trade on Wall Street which saw the Dow Jones rise 0.6%, the S&P 500 climb 0.6%, and the Nasdaq push 0.25% higher.










https://apnews.com/6c7a30c2eea6efdcfed3b4983ba4790a
By ALEX VEIGA and DAMIAN J. TROISE

Wall Street capped a choppy day of trading Wednesday with more gains for stocks as investors sized up a mix of company earnings reports and another flare-up in tensions between Washington and Beijing.

The S&P 500 rose 0.6%, its fourth gain in a row, after wavering between gains and losses for much of the afternoon. Strength in technology and health care stocks outweighed losses in energy companies, banks and elsewhere in the market. Treasury yields fell slightly, a sign of caution in the market.

“It’s a relatively muted day in terms of volatility,” said Bill Northey, senior investment director at U.S. Bank Wealth Management. “Having come off a furious rally off the March 23 lows, the market is clearly in a period of consolidation and assessing second-quarter earnings results.”

The S&P 500 gained 18.72 points to 3,276.02. The benchmark index is now within 3.3% of the all-time high it set in February. The Dow Jones Industrial Average rose 165.44 points, or 0.6%, to 27,005.84.

The Nasdaq recovered from an early dip to add 25.76 points, or 0.2%, to 10,706.13. The Russell 2000 index of small company stocks picked up 2.63 points, or 0.2%, to 1,490.14. Indexes in Europe fell. Asia ended mixed.

Homebuilders marched broadly higher after the National Association of Realtors said sales of previously occupied U.S. homes climbed last month by a robust 20.7%. The gain is an encouraging sign for the housing market after the pandemic caused sales to plummet in the prior three months.

Despite the sharp monthly increase, purchases are still down 11.3% from a year ago, when homes had sold at an annual pace of 5.32 million. Builder NVR led the sector, surging 10.7%.

United Airlines slid 4.2% after reporting that its revenue plunged 87% in the second quarter as the coronavirus throttled air travel. Pfizer rose 5.1% after the U.S. government signed a contract with the company to deliver the first 100 million doses of a COVID-19 vaccine it’s developing by December.


Traders also had their eye Wednesday on a flare-up in tensions between Washington and Beijing. The U.S. ordered China to close its consulate in Houston, saying it was necessary to protect American intellectual property. China said it would retaliate.

U.S.-China trade relations will probably start to factor back into the market somewhat, but the virus and its impact remain the main driver of where the markets go, said Liz Ann Sonders, chief investment strategist at Charles Schwab.

“A lot of what we’re looking for rests on whether consumption can stay afloat,” she said. “Even absent additional shutdowns, what are the implications of the fear factor, of consumers just opting to not go out as much?”

The Federal Reserve’s efforts to support markets and expectations that Washington eventually will deliver more financial aid to help Americans weather the economic downturn have been key in keeping markets mostly pushing higher since stocks plunged in March.

Still, worries remain that the rise of coronavirus counts across much of the country will derail efforts to reopen businesses shut down due to the pandemic.

Adding to unease Wednesday was a report by the U.S. Centers for Disease Control that the number of coronavirus cases in some states is much higher than has been reported. Experts have said all along that the toll from the COVID-19 pandemic is much higher than tallies of confirmed cases would indicate, due to issues with testing and data collection.

Uncertainty over prospects for more financial aid to Americans and U.S. businesses also is casting a shadow, analysts said. Republicans and Democrats remain divided over how much support is needed, as states grapple with rebounds in cases that have prompted some local governments to order some businesses to close to help snuff out flare-ups of the virus.

“The market is anticipating that there will be something, what the final (package) looks like is a different question,” Northey said. “Ultimately, we expect some agreement that provides another round of stimulus support.”

Investors continued to weigh company earnings reports Wednesday. So far, earnings have been coming in moderately better than expected, though companies have worked to lower expectations.

HCA Healthcare jumped 12%, the biggest gain in the S&P 500, after reporting earnings and revenue that topped analysts’ forecasts. Tesla’s latest quarterly results also exceeded Wall Street’s expectations. After the market closed, the electric car maker reported a surprise $104 million net profit for the second quarter. That gives Tesla its fourth-straight positive quarter, a prerequisite for admission into the S&P 500 index.

Among big companies reporting results this week: Intel, AT&T and Twitter report on Thursday and Verizon Communications and American Express report earnings Friday.

The yield on the 10-year Treasury note fell to 0.59% from 0.60%.

Gold for August delivery rose $21.20 to $1,865.10 an ounce, another sign that investors were shifting some of their holdings to traditionally less risky assets.

The price of benchmark U.S oil for September delivery fell 6 cents to settle at $41.90 a barrel Wednesday. Brent crude oil for September delivery fell 3 cents to $44.29 a barrel.


----------



## bigdog

Slumping stocks across most of Wall Street sent the S&P 500 to its worst loss in nearly four weeks on Thursday, undercut by a report showing layoffs are picking up across the country with coronavirus counts.

Technology stocks had the sharpest drops after a better-than-expected profit report from Microsoft failed to satisfy investors expecting even more from the company, whose stock has largely defied gravity and the pandemic this year. The sector helped drag the S&P 500 down 40.36 points, or 1.2%, to 3,235.66 for its first loss in five days.

The Dow Jones Industrial Average lost 353.51 points, or 1.3%, to 26,652.33. The Nasdaq composite fell 244.71, or 2.3%, to 10,461.

Other stock indexes around the world were mixed, while uncertainty across markets helped gold touch its highest price in nearly nine years.

The setback wiped out three-quarters of the S&P 500′s gains from earlier in the week. Overall, the market is in a holding pattern and will likely remain there as investors gauge the path of the pandemic, business reopenings and the government’s reaction to them, said Jason Pride, chief investment officer of private wealth at Glenmede.

“We’re going to be dealing with that until we get a vaccine or cure, whether we like it or not,” he said.

“I don’t envy the people who have to make decisions regarding risk of this spreading versus the risk to people’s livelihoods. It’s a hard choice.”

Thursday’s headline economic report was one that has taken on much more importance for markets through the pandemic: the weekly tally of workers applying for unemployment benefits. Last week, the count rose by 109,000 to a little more than 1.4 million.

It breaks a stretch of 15 straight weeks of improvements, a streak that had raised investor optimism that the recession could prove to be shorter than expected. It comes as coronavirus counts continue to rise across much of the Sun Belt, leading to more business closures.

Among the market’s heaviest weights was Microsoft, which fell 4.3% despite reporting a bigger quarterly profit for the spring than Wall Street expected. It’s a relatively rare stumble for the giant, which has cruised to records recently on expectations that it can continue to grow whether the economy is locked down or not.

But with the rise come greater expectations, and analysts pointed to a 47% growth rate reported for Microsoft’s Azure cloud business during the quarter. That fell short of analysts’ forecast.

Because Microsoft is one of the largest U.S. stocks by market value, its movements have an outsized effect on indexes like the S&P 500.

Apple, the other titan that trades off with Microsoft for the title of most valuable U.S. stock, was also down 4.6%. Other high-flying tech-oriented giants also stumbled, including a 3.7% drop for Amazon. Those three stocks alone accounted for more than half of the S&P 500’s loss.

Smaller stocks held up better, and the Russell 2000 index of small-cap stocks was virtually unchanged. It added 0.06 points to 1,490.20. Even within the S&P 500, 44% of stocks rose.

On the winning end were several big companies that reported more encouraging trends in their business during the spring than Wall Street expected.

*ASX 200 set to fall.*
It looks set to be a disappointing finish to the week for the ASX 200. According to the latest SPI futures, the benchmark index is expected to open the day 55 points or 0.9% lower this morning. This follows a poor night of trade on Wall Street which saw the Dow Jones fall 1.3%, the S&P 500 drop 1.2%, and the Nasdaq tumble 2.3% lower.

*Tech shares could tumble.*
It could be a difficult day of trade for tech shares such as *Altium Limited* (ASX: ALU) and *Appen Ltd* (ASX: APX). Australia’s leading tech shares have a tendency to follow the lead of their U.S. counterparts. And given how the tech-focused Nasdaq index tumbled notably lower last night, this doesn’t bode well for them this morning. The likes of Microsoft and Apple both dropped over 4%.










https://apnews.com/322260c080f7b01f19dc66187013cbb2

*S&P 500 has biggest loss in nearly 4 weeks as tech stumbles*
By STAN CHOE and DAMIAN J. TROISE

NEW YORK (AP) — Slumping stocks across most of Wall Street sent the S&P 500 to its worst loss in nearly four weeks on Thursday, undercut by a report showing layoffs are picking up across the country with coronavirus counts.

Technology stocks had the sharpest drops after a better-than-expected profit report from Microsoft failed to satisfy investors expecting even more from the company, whose stock has largely defied gravity and the pandemic this year. The sector helped drag the S&P 500 down 40.36 points, or 1.2%, to 3,235.66 for its first loss in five days.

The Dow Jones Industrial Average lost 353.51 points, or 1.3%, to 26,652.33. The Nasdaq composite fell 244.71, or 2.3%, to 10,461.

Other stock indexes around the world were mixed, while uncertainty across markets helped gold touch its highest price in nearly nine years.

The setback wiped out three-quarters of the S&P 500′s gains from earlier in the week. Overall, the market is in a holding pattern and will likely remain there as investors gauge the path of the pandemic, business reopenings and the government’s reaction to them, said Jason Pride, chief investment officer of private wealth at Glenmede.

“We’re going to be dealing with that until we get a vaccine or cure, whether we like it or not,” he said.

“I don’t envy the people who have to make decisions regarding risk of this spreading versus the risk to people’s livelihoods. It’s a hard choice.”

Thursday’s headline economic report was one that has taken on much more importance for markets through the pandemic: the weekly tally of workers applying for unemployment benefits. Last week, the count rose by 109,000 to a little more than 1.4 million.

It breaks a stretch of 15 straight weeks of improvements, a streak that had raised investor optimism that the recession could prove to be shorter than expected. It comes as coronavirus counts continue to rise across much of the Sun Belt, leading to more business closures.

Among the market’s heaviest weights was Microsoft, which fell 4.3% despite reporting a bigger quarterly profit for the spring than Wall Street expected. It’s a relatively rare stumble for the giant, which has cruised to records recently on expectations that it can continue to grow whether the economy is locked down or not.

But with the rise come greater expectations, and analysts pointed to a 47% growth rate reported for Microsoft’s Azure cloud business during the quarter. That fell short of analysts’ forecast.

Because Microsoft is one of the largest U.S. stocks by market value, its movements have an outsized effect on indexes like the S&P 500.

Apple, the other titan that trades off with Microsoft for the title of most valuable U.S. stock, was also down 4.6%. Other high-flying tech-oriented giants also stumbled, including a 3.7% drop for Amazon. Those three stocks alone accounted for more than half of the S&P 500’s loss.

Smaller stocks held up better, and the Russell 2000 index of small-cap stocks was virtually unchanged. It added 0.06 points to 1,490.20. Even within the S&P 500, 44% of stocks rose.

On the winning end were several big companies that reported more encouraging trends in their business during the spring than Wall Street expected.

Whirlpool jumped 8% for the biggest gain in the S&P 500 after the appliance maker reported a profit for the spring that was more than double what analysts expected. It also said that it saw demand recover in markets around the world in June, while saying it doesn’t expect sales over the course of 2020 to drop as much as it had earlier forecast.

Twitter rose 3.9% after its quarterly report showed the strongest growth in its history for users.

Investors are also hoping that Congress can agree on more aid for out-of-work Americans just as an extra $600 in weekly unemployment benefits is set to expire.

Republicans in the Senate were set to unveil their proposals for a $1 trillion COVID-19 rescue package Thursday morning, but that got delayed. Finding a compromise with the Democratic-controlled House of Representatives could also be more difficult than it was in March, when Congress produced a $2 trillion rescue package.

Thursday’s trading is a microcosm of the volatile moves that have dominated the market in recent weeks.

Helping to lift stocks have been several reports on the economy and corporate profits that showed improvements from the spring and were better than expected. That’s layered on top of massive aid for the economy promised by the Federal Reserve, including nearly zero interest rates.

But weighing markets down is a long list of challenges beyond the worsening coronavirus counts across much of the United States. They include worries about rising tensions between the United States and China, the world’s largest economies, and the effect of the upcoming U.S. elections.

The yield on the 10-year Treasury dipped to 0.58% from 0.59% late Wednesday. It tends to move with investors’ expectations for the economy and inflation.

Gold for delivery in August rose $24.90 to settle at $1,890.00 per ounce. Benchmark U.S. crude fell 83 cents to settle at $41.07 per barrel. Brent crude oil for September delivery fell 98 cents to $43.31 a barrel.

Major European stock indexes were close to flat, while Asian markets were down modestly.


----------



## bigdog

*SEA OF RED TODAY*

Stocks closed broadly lower for the second day in a row Friday as Wall Street gave back some of its gains from a mostly solid July rally.

The S&P 500 fell 0.6% and ended the week with its first weekly loss in four weeks. The pullback, which eased somewhat by afternoon, came as traders turned cautious amid increased tensions between the world’s two largest economies and a mixed batch of company earnings reports.

Technology and health care companies accounted for much of the selling, with chipmaker Intel posting the biggest drop in the S&P 500. Those losses outweighed gains by companies that rely on consumer spending, including Olive Garden owner Darden Restaurants, homebuilder PulteGroup and retailers Target and Best Buy. Stocks also sank across Asian and European markets.

Cautious investors shifted money into gold, driving its price to an all-time high of nearly $1,900 an ounce. The last record high for gold was set in 2011. Treasury yields held relatively steady, but remain close to their lowest levels since April.

“Investors are already wondering whether prices are too high and then you get a little bit of tension with China, you get a little bit of disappointing news from Intel, and that just sort of feeds on itself,” said Mike Zigmont, director of trading and research at Harvest Volatility Management.

The S&P 500 dropped 20.03 points to 3,215.63. The Dow Jones Industrial Average slid 182.44 points, or 0.7%, to 26,469.89. The Nasdaq composite fell 98.24 points, or 0.9%, to 10,363.18.

Each of the indexes had been down more sharply in the morning, with the Nasdaq off by as much as 2.3%. Small company stocks were the biggest losers. The Russell 2000 index gave up 22.65 points, or 1.5%, to 1,467.55.

The coronavirus pandemic remains the most dominant force in markets, with its potential to destroy lives and economies. But other risks are also bubbling up, headlined by Friday’s worsening relations between the United States and China.

Investors are also concerned about a recent uptick in layoffs as spiking coronavirus counts across the Sun Belt lead more businesses to shut down. Extra benefits for those out-of-work Americans from the federal government are set to expire soon, and worries are rising about whether Congress can reach a deal on more aid for the economy. Nearly half of Americans whose families experienced a layoff during the pandemic believe those jobs are lost forever, according to a poll from The Associated Press-NORC Center for Public Affairs Research.

Despite all those challenges, the S&P 500 remains only about 5% below its record set in February, after roaring back from an earlier, nearly 34% plummet. This week’s stall for the S&P 500 follows three straight weekly gains driven by hopes that the economy was regaining its footing. Underlying it all is massive aid for the economy promised by the Federal Reserve, including record-low interest rates.










https://apnews.com/1a80a62ac95751391ef7a571c5499132

*Wall Street down after worldwide slide; gold at record high*
By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Stocks closed broadly lower for the second day in a row Friday as Wall Street gave back some of its gains from a mostly solid July rally.

The S&P 500 fell 0.6% and ended the week with its first weekly loss in four weeks. The pullback, which eased somewhat by afternoon, came as traders turned cautious amid increased tensions between the world’s two largest economies and a mixed batch of company earnings reports.

Technology and health care companies accounted for much of the selling, with chipmaker Intel posting the biggest drop in the S&P 500. Those losses outweighed gains by companies that rely on consumer spending, including Olive Garden owner Darden Restaurants, homebuilder PulteGroup and retailers Target and Best Buy. Stocks also sank across Asian and European markets.

Cautious investors shifted money into gold, driving its price to an all-time high of nearly $1,900 an ounce. The last record high for gold was set in 2011. Treasury yields held relatively steady, but remain close to their lowest levels since April.

“Investors are already wondering whether prices are too high and then you get a little bit of tension with China, you get a little bit of disappointing news from Intel, and that just sort of feeds on itself,” said Mike Zigmont, director of trading and research at Harvest Volatility Management.

The S&P 500 dropped 20.03 points to 3,215.63. The Dow Jones Industrial Average slid 182.44 points, or 0.7%, to 26,469.89. The Nasdaq composite fell 98.24 points, or 0.9%, to 10,363.18.

Each of the indexes had been down more sharply in the morning, with the Nasdaq off by as much as 2.3%. Small company stocks were the biggest losers. The Russell 2000 index gave up 22.65 points, or 1.5%, to 1,467.55.

The coronavirus pandemic remains the most dominant force in markets, with its potential to destroy lives and economies. But other risks are also bubbling up, headlined by Friday’s worsening relations between the United States and China.

Investors are also concerned about a recent uptick in layoffs as spiking coronavirus counts across the Sun Belt lead more businesses to shut down. Extra benefits for those out-of-work Americans from the federal government are set to expire soon, and worries are rising about whether Congress can reach a deal on more aid for the economy. Nearly half of Americans whose families experienced a layoff during the pandemic believe those jobs are lost forever, according to a poll from The Associated Press-NORC Center for Public Affairs Research.

Despite all those challenges, the S&P 500 remains only about 5% below its record set in February, after roaring back from an earlier, nearly 34% plummet. This week’s stall for the S&P 500 follows three straight weekly gains driven by hopes that the economy was regaining its footing. Underlying it all is massive aid for the economy promised by the Federal Reserve, including record-low interest rates.

“The Fed is the big story behind this market, that and the liquidity it’s provided,” said Teresa Jacobsen, managing director at UBS Private Wealth Management. “It gives a great deal of support for upside in the market. But, there are momentary blips when we pause and give a little back.”

On Friday, the blip came after China’s Foreign Ministry ordered the closure of the U.S. consulate in the western city of Chengdu. It echoes a similar move earlier this week by the United States to close the Chinese consulate in Houston.

Such moves have investors on edge because of how viciously markets swung in prior years when President Donald Trump was pressing his trade war with China, before they agreed to a temporary truce early this year.

“Alongside the eviction of the Houston Chinese Consulate, the risk of the U.S.-China conflict escalating into a ‘Cold War’ is worrying,” said Hayaki Narita of Mizuho Bank.

A speech Thursday by U.S. Secretary of State Mike Pompeo saying that “securing our freedom from the Chinese Communist Party is the mission of our time” adds to the rhetoric certain to incense Beijing, making it still more difficult for either side to back down, he said.

Technology stocks have also been in the spotlight, after a sharp slide for them on Thursday helped drag the S&P 500 to its worst loss in nearly four weeks.

Microsoft, Apple, Amazon and other giants have cruised through much of the pandemic on expectations that they can keep growing despite all the challenges for the economy. But critics say enthusiasm for them was overdone, with prices too high even after accounting for the huge profits that they can produce.

Apple slipped 0.2% after having been down 4% earlier in the day. Microsoft slid 0.6%. Intel sank 16.2% after it delayed the release of its new 7 nanometer chip.

The yield on the 10-year Treasury held steady at 0.58%. It tends to move with investors’ expectations for the economy and inflation.

In commodities trading, the price of gold for delivery in August, the most actively traded contract, rose $7.50 to $1,897.50 an ounce. That beat the previous record high close of $1,891.90 set in August 2011.

Benchmark U.S. crude oil for September delivery rose 22 cents to settle at $41.29 a barrel Friday. Brent crude oil for September delivery rose 3 cents to $43.34 a barrel.


----------



## bigdog

*ASX 200 set to drop lower.*
The ASX 200 looks set to drop lower this morning after a poor finish to the week on Wall Street. According to the latest SPI futures, the benchmark index is expected to open the week 27 points or 0.45% lower. On Wall Street the Dow Jones fell 0.7%, the S&P 500 dropped 0.6%, and the Nasdaq fell 0.9%.


----------



## NoFOMO

Looks like the run of the mill Market Makers(MM) retracement of distribution 0.5-0.618 in futures while the NYSE is asleep.
Buying OTC was good SPY low SPX

Nasdaq is either going through a shakeup of IPO's to just bigs with QQQ very strong 60% buying with ARKK down at 20% long short ratios(CBOE data)


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## NoFOMO

The ASX will be led by commodities this week which look like their having a break after big rises for a month, even Uranium had a turn with the DXY dropping substantially lat week


----------



## bigdog

Wall Street’s rally got back on track Monday, while gold rushed to a record at the start of a week packed with potentially market-moving events.

The S&P 500 rose 0.7% to more than recover all its losses from last week, as Apple and other tech giants returned to their winning ways. Nervousness was still hanging over markets, though, and gold briefly topped $1,940 per ounce for the first time.

The S&P 500 climbed 23.78 points to 3,239.41. The Dow Jones Industrial Average rose 114.88, or 0.4%, to 26,584.77, and the Nasdaq composite gained 173.09, or 1.7%, to 10,536.27.

“If there ever was a week to pay attention, this is likely the one,” Kevin Giddis, chief fixed income strategist at Raymond James, wrote in a report. “There is as much going on for the markets as there has been since the crisis began, and almost all of it has some potential meaning on the future of the US economy.”

At the head of the pack is a two-day meeting for the Federal Reserve on interest rates that begins Tuesday. The Fed helped end the market’s sell-off in March, catapulting it into a tremendous rally, after promising to keep interest rates at record lows and to hoover up a wide range of bonds to support the economy. Investors are waiting to hear what the Fed says this week about the economy’s prospects and what it plans to do on interest rates.

This week is also a busy one for corporate earnings, with more than a third of the companies in the S&P 500 scheduled to report how they fared from April through June.

So far, profit reports have been better than Wall Street forecast, though still far weaker than a year earlier because of the recession. Companies that have reported results topping expectations, though, have been getting a smaller bump than usual versus the rest of the market the following day, analysts wrote in a BofA Global Research report.

Several of the market’s most influential companies are scheduled to report this week, including Amazon, Apple, Facebook and Google’s parent company. Those four account for 16% of the S&P 500’s total value, which gives their movements outsized influence on the index.

Such tech-oriented giants have cruised through much of the pandemic on expectations that they can continue to grow regardless of whether the economy is quarantined. But critics say their stocks have bubbled too high, even after accounting for the huge profits they produce.

The tech titans stumbled last week on such concerns, which helped pull the S&P 500 to its first weekly loss in four weeks.

Worries about an uptick in layoffs across the country also hurt stocks last week, as businesses close down again amid rising coronavirus counts across much of the Sun Belt. An extra $600 in weekly unemployment benefits from the U.S. government is set to expire soon, and Congress is still arguing about how to offer more aid for the economy.

The Trump administration’s chief negotiators spent the weekend on Capitol Hill working on a relief bill, though Democrats and Republicans still have much to negotiate.

*ASX 200 expected to rise again.*
The ASX 200 looks set to push higher again on Tuesday. According to the latest SPI futures, the benchmark index is expected to open the day 29 points or 0.5% higher this morning. This follows a positive night of trade on Wall Street, which saw the Dow Jones climb 0.4%, the S&P 500 rise 0.75%, and the Nasdaq storm 1.7% higher.










https://www.usnews.com/news/busines...sian-stocks-mixed-amid-us-china-feud-pandemic

*Wall Street Returns to Rallying; Gold Jumps to Record High*
Stocks resumed their upward march on Wall Street Monday, while the price of gold rushed to a record high at the start of a week packed with potentially market-moving events.
By Associated Press, Wire Service Content July 27, 2020, at 5:05 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Wall Street’s rally got back on track Monday, while gold rushed to a record at the start of a week packed with potentially market-moving events.

The S&P 500 rose 0.7% to more than recover all its losses from last week, as Apple and other tech giants returned to their winning ways. Nervousness was still hanging over markets, though, and gold briefly topped $1,940 per ounce for the first time.

The S&P 500 climbed 23.78 points to 3,239.41. The Dow Jones Industrial Average rose 114.88, or 0.4%, to 26,584.77, and the Nasdaq composite gained 173.09, or 1.7%, to 10,536.27.

“If there ever was a week to pay attention, this is likely the one,” Kevin Giddis, chief fixed income strategist at Raymond James, wrote in a report. “There is as much going on for the markets as there has been since the crisis began, and almost all of it has some potential meaning on the future of the US economy.”

At the head of the pack is a two-day meeting for the Federal Reserve on interest rates that begins Tuesday. The Fed helped end the market’s sell-off in March, catapulting it into a tremendous rally, after promising to keep interest rates at record lows and to hoover up a wide range of bonds to support the economy. Investors are waiting to hear what the Fed says this week about the economy’s prospects and what it plans to do on interest rates.

This week is also a busy one for corporate earnings, with more than a third of the companies in the S&P 500 scheduled to report how they fared from April through June.

So far, profit reports have been better than Wall Street forecast, though still far weaker than a year earlier because of the recession. Companies that have reported results topping expectations, though, have been getting a smaller bump than usual versus the rest of the market the following day, analysts wrote in a BofA Global Research report.

Several of the market’s most influential companies are scheduled to report this week, including Amazon, Apple, Facebook and Google’s parent company. Those four account for 16% of the S&P 500’s total value, which gives their movements outsized influence on the index.

Such tech-oriented giants have cruised through much of the pandemic on expectations that they can continue to grow regardless of whether the economy is quarantined. But critics say their stocks have bubbled too high, even after accounting for the huge profits they produce.

The tech titans stumbled last week on such concerns, which helped pull the S&P 500 to its first weekly loss in four weeks.

Worries about an uptick in layoffs across the country also hurt stocks last week, as businesses close down again amid rising coronavirus counts across much of the Sun Belt. An extra $600 in weekly unemployment benefits from the U.S. government is set to expire soon, and Congress is still arguing about how to offer more aid for the economy.

The Trump administration’s chief negotiators spent the weekend on Capitol Hill working on a relief bill, though Democrats and Republicans still have much to negotiate.

“Investors are optimistic about the impending stimulus coming out of Congress, and they are expecting that it could be even greater than the current $1 trillion amount that is being floated,” said Sam Stovall, chief investment strategist at CFRA. “In order for the Democrats to come onboard, it could end up being double that amount.”

All the uncertainty about the economy, the pandemic and how long interest rates will remain at nearly zero have helped drive the price of gold higher, making it the best performing investment of 2020. More recently, a weaker U.S. dollar and worries about rising tensions between the United States and China have given gold an extra boost.

Gold for delivery in August added another $33.50 to settle at $1,931.00 per ounce Monday, after earlier climbing as high as $1,941.90. That’s an intraday record for the most actively traded contract, and it follows up on Friday’s record high for a settlement price.

It’s unusual for the price of gold, which tends to rise when worries about the economy are high, to do so well at the same as stocks, which tend to wilt under such worries.

“It’s a tug of war between those investors and they’re really not acting in a normal way,” said Mark Hackett, chief of investment research for Nationwide.

“But it’s 2020, nothing’s normal.”

The yield on the 10-year Treasury note ticked up to 0.60% from 0.58% late Friday.

Benchmark U.S. crude rose 31 cents to settle at $41.60 per barrel. Brent crude, the international standard, rose 7 cents to $43.41 a barrel.

In Asia, Japan’s Nikkei 225 slipped 0.2%, South Korea’s Kospi gained 0.8% and stocks in Shanghai added 0.3%. The Hang Seng in Hong Kong lost 0.4%.

In Europe, Germany’s DAX was close to flat, and France’s CAC 40 lost 0.3%. The FTSE 100 in London dipped 0.3%.


----------



## bigdog

Stocks pulled lower on Wall Street Tuesday following a mixed set of earnings reports from dozens of big U.S. companies.

The S&P 500 fell 20.97 points, or 0.6%, to 3,218.44 after a last-hour slide erased a small gain from earlier in the day. Caution across markets also helped send Treasury yields a bit lower and gold a bit further into record heights.

The Dow Jones Industrial Average dropped 205.49 points, or 0.8%, to 26,379.28, and the Nasdaq composite lost 134.18, or 1.3%, to 10,402.09.

This week marks the heart of earnings reporting season for the S&P 500, and several big companies gave results that fell short of analysts’ already lowered expectations as the pandemic stole customers away and increased some costs.

3M was a particularly heavy weight on the Dow after dropping 4.8%. The maker of N95 masks and various other products for consumers and businesses reported a profit for the latest quarter that fell shy of analysts’ expectations. It said sales trends have been improving this month, but it also said there’s still too much uncertainty to offer forecasts for future performance.

McDonald’s lost 2.5% after its earnings  during the spring plunged by more than two-thirds from a year earlier as the pandemic kept customers away. The results were weaker than Wall Street was expecting.

Ecolab slumped 8.6% for one of the largest losses in the S&P 500 after it said its profit fell more steeply last quarter than analysts expected. The company sells sanitizing and other products to food service companies and other customers, and it was hurt by shutdowns in travel and dining due to the pandemic. It also said, though, that it expects the latest quarter to mark the low point for the company.

Losses for big technology stocks also helped to drag the market lower. The CEOs of Amazon, Apple, Facebook and Google’s parent company are all set to give testimony Wednesday to a House of Representatives committee investigating Big Tech’s market dominance.

On the winning side was Pfizer, which climbed 3.9%. It reported a profit for the latest quarter that topped analysts’ expectations, even though it was down by nearly a third from a year earlier. It also nudged up its profit forecast for the full year after announcing the start of a late-stage trial of an experimental COVID-19 vaccine that it’s developing with German partner BioNTech.

“Most investors are looking through 2021 calendar year earnings, as opposed to paying too much attention to the rest of this year,” Eric Freedman, chief investment officer at U.S. Bank Wealth Management

*ASX 200 expected to drop lower.*
The ASX 200 is expected to drop lower again on Wednesday after a poor night of trade on Wall Street. According to the latest SPI futures, the benchmark index is expected to fall 24 points or 0.4% at the open. On Wall Street the Dow Jones fell 0.8%, the S&P 500 dropped 0.65%, and the Nasdaq tumbled 1.3% lower.











https://apnews.com/ba64acc16d24bac8f067d3f15c575b8c

*Late slump pulls Wall Street lower; gold sets another record*
By STAN CHOE and ALEX VEIGA

Stocks pulled lower on Wall Street Tuesday following a mixed set of earnings reports from dozens of big U.S. companies.

The S&P 500 fell 20.97 points, or 0.6%, to 3,218.44 after a last-hour slide erased a small gain from earlier in the day. Caution across markets also helped send Treasury yields a bit lower and gold a bit further into record heights.

The Dow Jones Industrial Average dropped 205.49 points, or 0.8%, to 26,379.28, and the Nasdaq composite lost 134.18, or 1.3%, to 10,402.09.

This week marks the heart of earnings reporting season for the S&P 500, and several big companies gave results that fell short of analysts’ already lowered expectations as the pandemic stole customers away and increased some costs.

3M was a particularly heavy weight on the Dow after dropping 4.8%. The maker of N95 masks and various other products for consumers and businesses reported a profit for the latest quarter that fell shy of analysts’ expectations. It said sales trends have been improving this month, but it also said there’s still too much uncertainty to offer forecasts for future performance.

McDonald’s lost 2.5% after its earnings  during the spring plunged by more than two-thirds from a year earlier as the pandemic kept customers away. The results were weaker than Wall Street was expecting.

Ecolab slumped 8.6% for one of the largest losses in the S&P 500 after it said its profit fell more steeply last quarter than analysts expected. The company sells sanitizing and other products to food service companies and other customers, and it was hurt by shutdowns in travel and dining due to the pandemic. It also said, though, that it expects the latest quarter to mark the low point for the company.

Losses for big technology stocks also helped to drag the market lower. The CEOs of Amazon, Apple, Facebook and Google’s parent company are all set to give testimony Wednesday to a House of Representatives committee investigating Big Tech’s market dominance.

On the winning side was Pfizer, which climbed 3.9%. It reported a profit for the latest quarter that topped analysts’ expectations, even though it was down by nearly a third from a year earlier. It also nudged up its profit forecast for the full year after announcing the start of a late-stage trial of an experimental COVID-19 vaccine that it’s developing with German partner BioNTech.

“Most investors are looking through 2021 calendar year earnings, as opposed to paying too much attention to the rest of this year,” Eric Freedman, chief investment officer at U.S. Bank Wealth Management

The Federal Reserve also began a two-day meeting on interest rates, with an announcement scheduled for Wednesday. Investors largely expect the central bank to keep short-term rates at their record low, but they’re also looking to hear what it says about how long they may stay there.

The Fed helped launch the stock market’s recovery in late March after slashing interest rates and promising to buy Treasurys, corporate bonds and other debt to prop up the economy. On Tuesday, the Fed said it will extend  the lives of seven of the lending programs by three months through the end of the year, an acknowledgment of the severity of the recession.

The S&P 500 is back to within 5% of its record set in February, after earlier being down nearly 34%.

Massive aid from Congress also helped that turnaround to erupt, but a big part of it is about to expire on Friday: $600 in weekly unemployment benefits. Such support has taken on more importance as a report last week showed an unexpected tick higher in the number of workers filing for jobless benefits. Rising coronavirus counts across the Sun Belt have pushed many businesses to close down again.

Many investors are hopeful that Democrats and Republicans can reach a deal on more aid for the 16 million or so Americans who are getting unemployment benefits, even though the two sides still seem to be far apart.

“They’re going to get to a resolution eventually, it’s just how the sausage is made is going to take a little longer and that’s causing a little trepidation,” said Ryan Detrick, chief investment strategist for LPL Financial.

Investors are also more interested in how quickly the money can get to unemployed Americans, rather than how much there will be, said Freedman of U.S. Bank Wealth Management.

The yield on the 10-year Treasury note edged dipped to 0.58% from 0.60% late Monday.

Gold, which has rocketed this year on worries about the economy, rose $13.60 to settle at $1,944.60 per ounce. It earlier touched $1,974.40 to set an intraday record for the most actively traded contract for the second straight day.

Benchmark U.S. crude oil lost 56 cents to settle at $41.04 per barrel. Brent crude, the international standard, slipped 19 cents to $43.22 per barrel.

Stock markets overseas were mixed. In Asia, Japan’s Nikkei 225 index slipped 0.3%, but South Korea’s Kospi gained 1.8% and the Hang Seng in Hong Kong rose 0.7%. Stocks in Shanghai added 0.7%.

In Europe, Germany’s DAX was virtually flat, and France’s CAC 40 fell 0.2%. The FTSE 100 in London rose 0.4%.


----------



## NoFOMO

Market risk very low
Flat week until  FOMC tomorrow...then earnings FB, AAPL, AMZN, GOOGL reporting Thursday night.


----------



## bigdog

Wall Street rallied on Wednesday, and the S&P 500 climbed 1.2% for its best day in two weeks after the Federal Reserve kept the accelerator floored on its support for the economy.

U.S. stocks began rising as soon as trading opened, and momentum picked up after the Fed said in the afternoon that it will keep interest rates at their record low as the economy struggles through the recession created by the coronavirus pandemic.

The S&P 500 gained 40.00 points to 3,258.44 for its second gain in the last three days. The Dow Jones Industrial Average rose 160.29, or 0.6%, to 26,539.57, and the Nasdaq composite added 140.85, or 1.4%, to 10,542.94.

Besides keeping short-term rates pinned at nearly zero, the Federal Reserve also said it will continue to buy about $120 billion in Treasury and mortgage bonds each month to support the economy.

“The Fed has done a lot,” said Kirk Hartman, president and global chief investment officer at Wells Fargo Asset Management. “It was very clear today that they’ll stand by and continue to be accommodative.”

Such aid from the Fed, along with stimulus from Congress, helped launch the stock market’s turnaround in March. Congress is also locked in negotiations for more support for the economy, with $600 in weekly unemployment benefits about to expire. Democrats and Republicans seem to remain far apart in their proposals, but investors are still hopeful about a deal’s chances.

If those two remain in hand, the big wild card for markets will continue to be the coronavirus pandemic and whether a vaccine can be developed for it within the next year.

“The markets are very strong, but the real economy is not so strong,” Hartman said. “The markets are betting on a recovery, on a vaccine rolling out at the end of the year. That’s the only way you can justify the market” at the levels it's reached, along with the continued rescue efforts by the Federal Reserve.

The S&P 500 is back within 3.8% of its record set in February after earlier being down nearly 34%.

Besides the action in Washington, this is also a frenetic week for profit reports from the biggest U.S. companies. Several reported results for the spring that topped Wall Street’s expectations, even though they were far below last year’s levels from before the pandemic. That’s been the general trend so far this earnings season, with 40% of companies in the S&P 500 having reported.

*ASX 200 expected to rebound.*
It looks set to be a very positive day of trade for the ASX 200 after a strong night on Wall Street. According to the latest SPI futures, the benchmark index is expected rise 51 points or 0.85% at the open. On Wall Street the Dow Jones rose 0.6%, the S&P 500 jumped 1.25%, and the Nasdaq stormed 1.35% higher. This follows the U.S. Federal Reserve’s decision to keep rates unchanged at close to zero.  










https://www.usnews.com/news/busines...-mixed-amid-dismal-earnings-wall-street-slump

*Wall Street Rallies as Fed Keeps Rates Pinned at Record Low*
Wall Street rallied on Wednesday, and the S&P 500 climbed 1.2% for its best day in two weeks after the Federal Reserve kept the accelerator floored on its support for the economy.
By Associated Press, Wire Service Content July 29, 2020, at 4:45 p.m.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Wall Street rallied on Wednesday, and the S&P 500 climbed 1.2% for its best day in two weeks after the Federal Reserve kept the accelerator floored on its support for the economy.

U.S. stocks began rising as soon as trading opened, and momentum picked up after the Fed said in the afternoon that it will keep interest rates at their record low as the economy struggles through the recession created by the coronavirus pandemic.

The S&P 500 gained 40.00 points to 3,258.44 for its second gain in the last three days. The Dow Jones Industrial Average rose 160.29, or 0.6%, to 26,539.57, and the Nasdaq composite added 140.85, or 1.4%, to 10,542.94.

Besides keeping short-term rates pinned at nearly zero, the Federal Reserve also said it will continue to buy about $120 billion in Treasury and mortgage bonds each month to support the economy.

“The Fed has done a lot,” said Kirk Hartman, president and global chief investment officer at Wells Fargo Asset Management. “It was very clear today that they’ll stand by and continue to be accommodative.”

Such aid from the Fed, along with stimulus from Congress, helped launch the stock market’s turnaround in March. Congress is also locked in negotiations for more support for the economy, with $600 in weekly unemployment benefits about to expire. Democrats and Republicans seem to remain far apart in their proposals, but investors are still hopeful about a deal’s chances.

If those two remain in hand, the big wild card for markets will continue to be the coronavirus pandemic and whether a vaccine can be developed for it within the next year.

“The markets are very strong, but the real economy is not so strong,” Hartman said. “The markets are betting on a recovery, on a vaccine rolling out at the end of the year. That’s the only way you can justify the market” at the levels it's reached, along with the continued rescue efforts by the Federal Reserve.

The S&P 500 is back within 3.8% of its record set in February after earlier being down nearly 34%.

Besides the action in Washington, this is also a frenetic week for profit reports from the biggest U.S. companies. Several reported results for the spring that topped Wall Street’s expectations, even though they were far below last year’s levels from before the pandemic. That’s been the general trend so far this earnings season, with 40% of companies in the S&P 500 having reported.

Advanced Micro Devices rose 12.5% after it reported a stronger jump in profit for its latest quarter than Wall Street expected. The chip maker also raised its forecast for revenue through 2020. It’s notable because many companies have been pulling their forecasts or declining to offer any given all the uncertainty in the economy created by the pandemic.

Starbucks gained 3.7% after it reported a loss for the spring that wasn't as bad as analysts were expecting.

L Brands, the parent company of Victoria's Secret, soared 35.4% for the biggest gain in the S&P 500 after it laid out plans to slash its annual costs by $400 million, including through laying off workers. The stock had been struggling for years before turning higher in the spring, and analysts say the cost cuts should help bolster the company's profitability.

Eastman Kodak's stock more than tripled for the second straight day after the company won a $765 million government loan to launch a new business unit making pharmaceutical components. It surged 318.1% to $33.20, up from $2.62 on Monday.

Big technology CEOs, meanwhile, testified at a House of Representatives subcommittee hearing on whether their companies have grown too big and harm competition.

Amazon, Apple, Facebook and Google’s parent company have been some of the market’s strongest stocks through the pandemic, much as they’ve been for the last several years, on investors’ expectations that they can continue to grow almost regardless of what the economy does.

Their stocks have grown so valuable that they can sway the S&P 500 and other indexes almost by themselves. Those four, plus Microsoft, account for nearly 22% of the S&P 500’s total value.

The big tech-oriented stocks have had a few stumbles in recent weeks, but they remain far ahead of the rest of the market. Amazon added 1.1% Wednesday, Apple rose 1.9%, Facebook gained 1.4% and the Class A shares of Alphabet were up 1.3%.

The yield on the 10-year Treasury dipped to 0.57% from 0.58% late Tuesday.

Gold extended its record run and rose 0.4% to settle at $1,953.40 per ounce after touching $1,960.00 in the morning.

Benchmark U.S. crude oil for September delivery rose 23 cents to settle at $41.27 a barrel Wednesday. Brent crude oil for September delivery rose 53 cents to $43.75 a barrel.

Overseas stock markets were mixed. The Nikkei 225 in Tokyo lost 1.1%, but stocks in Shanghai rose 2.1%. South Korea’s Kospi added 0.3%, and Hong Kong’s Hang Seng rose 0.4%.

Germany’s DAX lost 0.1%, and France’s CAC 40 rose 0.6%. The FTSE 100 in London was close to flat.


----------



## bigdog

Most of Wall Street stumbled Thursday, but yet another rise for big technology stocks helped keep the market’s losses in check.

The S&P 500 dropped 12.22 points, or 0.4%, to 3,246.22, with nearly three out of four stocks in the index falling. Among the hardest-hit were oil producers, banks and other companies that most need the economy to pull out of its recession. Treasury yields also sank in a sign of increased pessimism about the economy.

The Dow Jones Industrial Average lost 225.92 points, or 0.9%, to 26,313.65. Earlier in the morning, though, the market had seemed set for a much steeper fall. The Dow was down as many as 547 points, while the S&P 500 tumbled 1.7% within the first hour of trading.

Stronger-than-expected profit reports from UPS and other companies helped the market trim its losses through the day. So did steadying prices for Amazon and other big tech-oriented stocks, which reported their own results after the day’s trading ended. Anticipation for their reports, which proved to be even better than Wall Street expected, helped the Nasdaq composite completely erase its early loss and climb 44.87, or 0.4%, to end the day at 10,587.81.

The jumbled trading came after a report showed that layoffs are continuing at their stubborn pace across the country, denting hopes that the economy can recover nearly as quickly as it plummeted into recession. A separate report on Thursday showed that the U.S. economy contracted at a nearly 33% annual rate in the spring, the worst quarter on record.

Markets worldwide had already turned lower before those data releases dropped. An earlier report showed that Germany’s economy, Europe’s largest, suffered through its worst quarter on record during the spring.

Investors had already been expecting the reports on the economy to be weak, “so the real story today for traders is earnings,” said Chris Larkin, managing director of trading and investment product at E-Trade Financial.

Thursday was the busiest day for profit reports among S&P 500 companies within the busiest week this earnings season.

Earnings reports have mostly been better than Wall Street’s expectations so far, but they’ve been far below year-ago levels, before the pandemic struck. The big companies in the S&P 500 are on track to report a nearly 38% drop for the second quarter from a year earlier, according to FactSet.

*ASX 200 expected to slide.*
The ASX 200 index looks set to drop lower on Friday after a mixed night of trade on Wall Street. According to the latest SPI futures, the benchmark index is expected to fall 20 points or 0.3% at the open. On Wall Street the Dow Jones dropped 0.85%, the S&P 500 fell 0.4%, and the Nasdaq pushed 0.4% higher.










https://www.usnews.com/news/busines...cks-gain-after-fed-keep-us-interest-rates-low

*Wall Street Slides, but Tech Strength Helps Avert a Big Loss*
Most of Wall Street stumbled Thursday, but yet another rise for big technology stocks helped keep the market’s losses in check.
By Associated Press, Wire Service Content July 30, 2020, at 5:09 p.m. 

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Most of Wall Street stumbled Thursday, but yet another rise for big technology stocks helped keep the market’s losses in check.

The S&P 500 dropped 12.22 points, or 0.4%, to 3,246.22, with nearly three out of four stocks in the index falling. Among the hardest-hit were oil producers, banks and other companies that most need the economy to pull out of its recession. Treasury yields also sank in a sign of increased pessimism about the economy.

The Dow Jones Industrial Average lost 225.92 points, or 0.9%, to 26,313.65. Earlier in the morning, though, the market had seemed set for a much steeper fall. The Dow was down as many as 547 points, while the S&P 500 tumbled 1.7% within the first hour of trading.

Stronger-than-expected profit reports from UPS and other companies helped the market trim its losses through the day. So did steadying prices for Amazon and other big tech-oriented stocks, which reported their own results after the day’s trading ended. Anticipation for their reports, which proved to be even better than Wall Street expected, helped the Nasdaq composite completely erase its early loss and climb 44.87, or 0.4%, to end the day at 10,587.81.

The jumbled trading came after a report showed that layoffs are continuing at their stubborn pace across the country, denting hopes that the economy can recover nearly as quickly as it plummeted into recession. A separate report on Thursday showed that the U.S. economy contracted at a nearly 33% annual rate in the spring, the worst quarter on record.

Markets worldwide had already turned lower before those data releases dropped. An earlier report showed that Germany’s economy, Europe’s largest, suffered through its worst quarter on record during the spring.

Investors had already been expecting the reports on the economy to be weak, “so the real story today for traders is earnings,” said Chris Larkin, managing director of trading and investment product at E-Trade Financial.

Thursday was the busiest day for profit reports among S&P 500 companies within the busiest week this earnings season.

Earnings reports have mostly been better than Wall Street’s expectations so far, but they’ve been far below year-ago levels, before the pandemic struck. The big companies in the S&P 500 are on track to report a nearly 38% drop for the second quarter from a year earlier, according to FactSet.

Energy stocks had some of the market's sharpest losses, dropping in concert with oil prices amid worries about a weaker economy. Exxon Mobil dropped 4.9%, and ConocoPhillips lost 5.8%.

Financial stocks were also weak, hurt by a drop in interest rates that reins in the profits to be made from lending. JPMorgan Chase fell 2.7%, and Citigroup lost 3.1%

On the winning end was UPS, which jumped 14.4% to a record high after reporting revenue and profits for the spring that blew past analysts' expectations. It benefited from more people getting deliveries at home amid the pandemic.

Qualcomm rose 15.2% after it also reported stronger-than-expected quarterly results, while announcing it had resolved a dispute with Huawei and signed a new license agreement.

Shortly after trading ended for the day, Amazon, Apple, Facebook and Google’s parent company all reported bigger profits for the latest quarter than Wall Street had forecast. Apple also announced a 4-for-1 stock split.

Expectations were already high for each of the giants. Their stocks are all up at least 14% this year, when the S&P 500 is up just 0.5%. Amazon is up more than 65%.

Investors have continued to flock to them on expectations that their growth will only continue as the pandemic accelerates life’s shift toward online. Their huge size also gives their stocks' movements great sway over index funds: The four alone account for nearly 16% of the S&P 500 by market value.

Investors are also continuing to wait for signs of progress from Capitol Hill, where Congress is debating how and whether to offer more aid for the economy ravaged by the pandemic. An extra $600 in weekly unemployment benefits from the federal government is about to expire, and that cash is growing in importance as the number of laid-off workers ticks higher.

A little more than 1.4 million U.S. workers applied for unemployment benefits last week, according to a Thursday report from the Labor Department. That's up by 12,000 from a week earlier.

Thursday’s loss for the S&P 500 gave back some of its big gain from the day before, when the Federal Reserve pledged to keep interest rates at their record low but highlighted how uncertain the path is for the economy due to the pandemic. It was the second time that the index has flip-flopped on consecutive days this week.

The yield on the 10-year Treasury fell to 0.55% from 0.58% late Wednesday. It tends to move with investors’ expectations for the economy and inflation.

Benchmark U.S. crude dropped $1.35 to settle at $39.32 per barrel. Brent crude, the international standard, fell 81 cents to $42.94 a barrel.

In European stock markets, Germany's DAX lost 3.5%, and France's CAC 40 dropped 2.1%. The FTSE 100 in London was down 2.3%.

In Asia, Japan's Nikkei 225 slipped 0.3%, South Korea's Kospi added 0.2% and Hong Kong's Hang Seng dropped 0.7%. Stocks in Shanghai slipped 0.2%.


----------



## bigdog

Big Tech continues to steamroll through the pandemic, and strong gains for some of the market’s most influential companies on Friday helped Wall Street close out its fourth straight winning month.

The S&P 500 rose 24.90 points, or 0.8%, to 3,271.12 following blowout profit reports from Apple and several other tech titans. The gains didn’t come easily, though, and the stock market flipped up and down through the day amid worries about the economy and whether Congress can find agreement on more aid for it.

The Dow Jones Industrial Average was down as many as 300 points before finishing the day up 114.67, or 0.4%, at 26,428.32. The Nasdaq composite jumped 157.64, or 1.5%, to 10,745.27 on the strength for tech stocks, which also accelerated in the last hour of trading.

Despite the gains, caution was clearly present across markets as the coronavirus pandemic continues to cloud the economy’s prospects. The 10-year Treasury yield touched its lowest level since it dropped to a record low in March. Gold also continued its record-setting run as investors searched for safety, while the majority of stocks in the S&P 500 sank.

Among the laggards were companies that most need the economy to get back to “normal” and the pandemic to subside, including many in the travel industry.

Expedia Group slumped 4.6% after it reported weaker results for the latest quarter than Wall Street expected. The company's CEO, Peter Kern, called it “likely the worst quarter the travel industry has seen in modern history.”

Energy companies were also weak as the pandemic sucked away demand for oil. Chevron dropped 2.7% after it reported a worse loss for its latest quarter than Wall Street expected.

The economy cratered to its worst quarterly performance on record during the spring, and worries are high that continuing waves of coronavirus infections may halt what had been a budding recovery. An extra $600 in weekly unemployment benefits from the U.S. government is expiring with July's end, and Congress continues to argue about how to provide more support for the economy.

Whether Washington can agree on more aid for out-of-work Americans — and quickly — is the biggest risk for the market in the near term, said Yung-Yu Ma, chief investment strategist at BMO Wealth Management.

“If it doesn’t happen in short order, there’s going to be a lot of disappointment and unease,” he said. “I think lawmakers are perhaps underestimating how quickly things could spiral downward without an extension in place. It would take only a few weeks before millions of people are cash strapped.”

The S&P 500 made its final leg back into positive territory for the day as top Democrats announced a meeting with White House representatives for Saturday morning to continue talks.










https://www.usnews.com/news/busines...s-fall-as-data-earnings-show-pandemic-fallout

*Tech Giants Lead Gains as S&P 500 Closes 4th Winning Month*
Big Tech continues to steamroll through the pandemic, and strong gains for some of the market’s most influential companies on Friday helped Wall Street close out its fourth straight winning month.
By Associated Press, Wire Service Content July 31, 2020, at 5:21 p.m.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Big Tech continues to steamroll through the pandemic, and strong gains for some of the market’s most influential companies on Friday helped Wall Street close out its fourth straight winning month.

The S&P 500 rose 24.90 points, or 0.8%, to 3,271.12 following blowout profit reports from Apple and several other tech titans. The gains didn’t come easily, though, and the stock market flipped up and down through the day amid worries about the economy and whether Congress can find agreement on more aid for it.

The Dow Jones Industrial Average was down as many as 300 points before finishing the day up 114.67, or 0.4%, at 26,428.32. The Nasdaq composite jumped 157.64, or 1.5%, to 10,745.27 on the strength for tech stocks, which also accelerated in the last hour of trading.

Despite the gains, caution was clearly present across markets as the coronavirus pandemic continues to cloud the economy’s prospects. The 10-year Treasury yield touched its lowest level since it dropped to a record low in March. Gold also continued its record-setting run as investors searched for safety, while the majority of stocks in the S&P 500 sank.

Among the laggards were companies that most need the economy to get back to “normal” and the pandemic to subside, including many in the travel industry.

Expedia Group slumped 4.6% after it reported weaker results for the latest quarter than Wall Street expected. The company's CEO, Peter Kern, called it “likely the worst quarter the travel industry has seen in modern history.”

Energy companies were also weak as the pandemic sucked away demand for oil. Chevron dropped 2.7% after it reported a worse loss for its latest quarter than Wall Street expected.

The economy cratered to its worst quarterly performance on record during the spring, and worries are high that continuing waves of coronavirus infections may halt what had been a budding recovery. An extra $600 in weekly unemployment benefits from the U.S. government is expiring with July's end, and Congress continues to argue about how to provide more support for the economy.

Whether Washington can agree on more aid for out-of-work Americans — and quickly — is the biggest risk for the market in the near term, said Yung-Yu Ma, chief investment strategist at BMO Wealth Management.

“If it doesn’t happen in short order, there’s going to be a lot of disappointment and unease,” he said. “I think lawmakers are perhaps underestimating how quickly things could spiral downward without an extension in place. It would take only a few weeks before millions of people are cash strapped.”

The S&P 500 made its final leg back into positive territory for the day as top Democrats announced a meeting with White House representatives for Saturday morning to continue talks.

Also helping to prop up the S&P 500 was the power of big tech-oriented stocks. Amazon, Apple and Facebook each reported stronger profit for the latest quarter than Wall Street expected late Thursday, and each rose at least 3.7% in their first trading following the reports. They're three of the biggest companies in the world, making up nearly 13% of the S&P 500 themselves, so their movements hold great sway over indexes.

Apple was particularly influential, rocketing up 10.5% following what Wedbush analyst Daniel Ives called a “Picasso-like performance” for its latest quarter.

Google’s parent company, another behemoth in the market, also reported stronger profit than analysts had forecast, but its stock stumbled.

Not only are Big Tech companies growing faster than the rest of the market, some investors have even begun seeing them as safer bets than other stocks because the pandemic is pushing more people online and directly into their wheelhouses. It’s a far cry from 20 years ago when tech stocks were seen as the riskiest investments.

The strength for tech is one of the reasons the S&P 500 rose 5.5% in July, its best month since April. Continued, massive amounts of aid from the Federal Reserve has been another linchpin. The index has climbed back within 3.4% of its record set in February after earlier being down nearly 34%.

The gains came even though companies have broadly been reporting sharp declines in their profits, as investors hope that a vaccine can be developed in the next year to corral the pandemic and get the economy closer to normal.

"The market knows earnings are going to be terrible now, with a few select exceptions, for the majority of companies," Ma said. "What’s really holding up the equity markets is this idea that ‘Yes, it’s a terrible situation now, but the outlook for 2021 and beyond is markedly better.’"

Other markets have not shown as much exuberance, though. The yield on the 10-year Treasury ticked down to 0.53% from 0.54% late Thursday. It touched its lowest level since March 9, the day it dropped to its record intraday low just below 0.34%. The yield tends to move with investors’ expectations for the economy and inflation.

Gold for delivery in December, the most actively traded contract, rose $19.10 to settle at $1,985.91 per ounce after earlier climbing as high as $2,005.40.

Benchmark U.S. crude oil rose 35 cents to settle at $40.27 a barrel Friday. Brent crude rose 37 cents to $43.31 a barrel.

1815


----------



## bigdog

The ASX 200 looks set to open the week flat despite a positive end on Wall Street. According to the latest SPI futures, the benchmark index is expected to open the day 1 point lower. On Wall Street on Friday the Dow Jones rose 0.45%, the S&P 500 climbed 0.8% higher, and the Nasdaq index jumped 1.5%. The latter was given a boost by the Apple share price, which surged 10% higher after its quarterly update. The tech giant is now the world’s most valuable company.


----------



## bigdog

Stocks started August with more gains, and a worldwide rally on Monday sent Wall Street back to where it was just a couple days after it set its record earlier this year.

The S&P 500 tacked 0.7% more onto its four-month winning streak, and Big Tech once again led the way. The index rose 23.49 points to 3,294.61 to get within 3% of its record for the first time since February.

The Dow Jones Industrial Average rose 236.08 points, or 0.9%, to 26,664.40. The gains for tech stocks, particularly Microsoft and Apple, pushed the Nasdaq composite up 157.52, or 1.5%, to 10,902.80, another record.

Helping to launch markets higher were reports showing manufacturing activity strengthened across Europe in July by more than economists expected. The gains built higher after a separate report showed U.S. manufacturing growth accelerated last month at a faster pace than economists expected.

The data added to evidence that the global economy halted its freefall from earlier this year, at least temporarily. Earlier on Monday, a private survey showed China’s manufacturing activity also grew at a faster rate in July than expected.

Such budding improvements have helped the S&P 500 nearly erase its pandemic-caused plunge, which had reached nearly 34% at one point. So have massive amounts of aid for the economy from the Federal Reserve.

Still, “there is clear confusion among investors,” said Mark Hackett, chief of investment research at Nationwide. Even though the stock market is indicating a steady recovery, he said big moves in the foreign-currency and gold markets are “suggesting greater disruption.”

In Washington, meanwhile, slow, grinding negotiations on another huge relief effort for the U.S. economy are ongoing. Both the Trump administration negotiating team and top Capitol Hill Democrats reported progress over the weekend, though differences remain.

The discussions have taken on more urgency because $600 in weekly benefits for laid-off workers from the federal government have expired, just as the number of layoffs ticks up across the country amid a resurgence of coronavirus counts and business restrictions.

The continued spread of the coronavirus is raising worries that the economy could backslide again and snuff out the budding improvements it’s shown. The shakeout from the pandemic took down two more big retailers over the weekend, with Lord & Taylor and the owner of Men’s Wearhouse both filing for bankruptcy protection on Sunday.

Through the pandemic, though, Big Tech has remained almost immune to such concerns on expectations that it can continue to grow.

Microsoft jumped 5.6% Monday after it confirmed that it’s in talks  to buy the U.S. arm of TikTok, a Chinese-owned video app that is very popular but has also drawn the White House’s scrutiny. Microsoft said its CEO, Satya Nadella, has talked with President Donald Trump about it, and the tech giant expects the talks with TikTok to end no later than Sept. 15, either with a deal or not.

Apple added 2.5%, piling more gains onto its 10.5% rise Friday following a blowout report showing that its profits during the spring easily topped Wall Street’s expectations.

“Earnings from tech companies were great, so we have the all-clear to buy the sector,” said Jason Brady, CEO at Thornburg Investment Management. “We also got the all-clear from the Fed that money will stay cheap — real interest rates will stay low — and there is zero appetite for considering the costs of this position.”

*ASX 200 expected to surge higher.*
It looks set to be a much more positive day for the ASX 200 on Tuesday. According to the latest SPI futures, the benchmark index is expected to open the day 84 points or 1.4% higher. This follows a positive start to the week on Wall Street, which saw the Dow Jones rise 0.9%, the S&P 500 climb 0.7%, and the Nasdaq index storm 1.5% higher. Strong gains by Apple and Microsoft helped drive U.S. markets higher.










https://apnews.com/619c5480c0917bde5bb22643a6cba4d2

*Stocks rally worldwide, S&P 500 back to within 3% of record*
By STAN CHOE47 minutes ago

NEW YORK (AP) — Stocks started August with more gains, and a worldwide rally on Monday sent Wall Street back to where it was just a couple days after it set its record earlier this year.

The S&P 500 tacked 0.7% more onto its four-month winning streak, and Big Tech once again led the way. The index rose 23.49 points to 3,294.61 to get within 3% of its record for the first time since February.

The Dow Jones Industrial Average rose 236.08 points, or 0.9%, to 26,664.40. The gains for tech stocks, particularly Microsoft and Apple, pushed the Nasdaq composite up 157.52, or 1.5%, to 10,902.80, another record.

Helping to launch markets higher were reports showing manufacturing activity strengthened across Europe in July by more than economists expected. The gains built higher after a separate report showed U.S. manufacturing growth accelerated last month at a faster pace than economists expected.

The data added to evidence that the global economy halted its freefall from earlier this year, at least temporarily. Earlier on Monday, a private survey showed China’s manufacturing activity also grew at a faster rate in July than expected.

Such budding improvements have helped the S&P 500 nearly erase its pandemic-caused plunge, which had reached nearly 34% at one point. So have massive amounts of aid for the economy from the Federal Reserve.

Still, “there is clear confusion among investors,” said Mark Hackett, chief of investment research at Nationwide. Even though the stock market is indicating a steady recovery, he said big moves in the foreign-currency and gold markets are “suggesting greater disruption.”

In Washington, meanwhile, slow, grinding negotiations on another huge relief effort for the U.S. economy are ongoing. Both the Trump administration negotiating team and top Capitol Hill Democrats reported progress over the weekend, though differences remain.

The discussions have taken on more urgency because $600 in weekly benefits for laid-off workers from the federal government have expired, just as the number of layoffs ticks up across the country amid a resurgence of coronavirus counts and business restrictions.

The continued spread of the coronavirus is raising worries that the economy could backslide again and snuff out the budding improvements it’s shown. The shakeout from the pandemic took down two more big retailers over the weekend, with Lord & Taylor and the owner of Men’s Wearhouse both filing for bankruptcy protection on Sunday.

Through the pandemic, though, Big Tech has remained almost immune to such concerns on expectations that it can continue to grow.

Microsoft jumped 5.6% Monday after it confirmed that it’s in talks  to buy the U.S. arm of TikTok, a Chinese-owned video app that is very popular but has also drawn the White House’s scrutiny. Microsoft said its CEO, Satya Nadella, has talked with President Donald Trump about it, and the tech giant expects the talks with TikTok to end no later than Sept. 15, either with a deal or not.

Apple added 2.5%, piling more gains onto its 10.5% rise Friday following a blowout report showing that its profits during the spring easily topped Wall Street’s expectations.

“Earnings from tech companies were great, so we have the all-clear to buy the sector,” said Jason Brady, CEO at Thornburg Investment Management. “We also got the all-clear from the Fed that money will stay cheap — real interest rates will stay low — and there is zero appetite for considering the costs of this position.”

Across the market, corporate profits have come in for the spring that weren’t quite as bad as analysts were expecting. Roughly two-thirds of the way into earnings season, 84% of S&P 500 companies have reported stronger results than expected, according to FactSet. If it stays at that level, it would be the highest since FactSet’s records began in 2008.

Microsoft and Apple are also the two biggest in the U.S. stock market, which gives their movements huge sway over indexes. The pair alone accounted for most of the S&P 500’s gain.

Health care stocks were also strong, with Varian Medical surging 22% for the biggest gain in the S&P 500. Germany-based Siemens Healthineers said it will buy  the cancer therapy and research company in a deal worth roughly $16.4 billion.

Germany’s DAX stock index returned 2.7% following the strong reports on European manufacturing. France’s CAC 40 rose 1.9%, and the FTSE 100 in London gained 2.3%.

In Asia, Japan’s Nikkei 225 jumped 2.2%, South Korea’s Kospi edged up 0.1% and the Hang Seng in Hong Kong slipped 0.6%. Stocks in Shanghai rose 1.8%

The yield on the 10-year Treasury rose to 0.55% from 0.53% late Friday.

Benchmark U.S. crude rose 1.8% to settle at $41.01 per barrel. Brent crude, the international standard, climbed 1.4% to $44.15 per barrel.


----------



## bigdog

U.S. stock indexes drifted higher Tuesday as Wall Street’s big rally eased off the accelerator.

The S&P 500 rose 11.90 points, or 0.4%, to 3,306.51 after flipping between small gains and losses throughout the day. It’s the mildest move for the index in two weeks.

The Dow Jones Industrial Average climbed 164.07 points, or 0.6%, to 26,828.47, and the Nasdaq composite added 38.37, or 0.4%, to close at another record, 10,941.17.

Stock indexes are hanging at or close to their record highs after clawing back all or most of their sell-off from earlier in the year, and the S&P 500 is within 2.4% of its all-time high set in February. But caution is still very prevalent across other markets: Gold rose to another record Tuesday, while Treasury yields sank as investors sought safety.

Within the stock market, energy companies had the biggest gains after the price of oil rose. But two in five S&P 500 stocks were lower following a mixed set of earnings reports.

On the winning end was Take-Two Interactive Software, which rose 5.9%. The video-game maker reported a profit for the spring that was almost double year-ago levels as customers stuck at home played Grand Theft Auto and other games instead of going outside.

It also raised its sales forecast for its fiscal year, a notable move when many companies have been shy to give any kind of prediction given all the uncertainty created by the coronavirus pandemic.

On the opposite end was insurer American International Group. AIG fell 7.5% for one of the larger losses in the S&P 500 even though it reported stronger results for the latest quarter than Wall Street expected. Some analysts cited several unusual items that clouded its report, such as COVID-related losses, which make it difficult to extrapolate how AIG’s profits will run from here.

In Washington, meanwhile, negotiations in the Capitol on a big economic relief package are ongoing. But multiple obstacles remain before a deal can be struck, one that investors say is crucial for propping up the economy in its weakened state.

A weekly $600 in federal unemployment benefits has expired, threatening to crunch the finances of millions of out-of-work Americans. Recent data reports have shown an uptick in the number of workers filing for unemployment benefits after a resurgence of coronavirus counts pushed some states to reimpose restrictions on businesses. Economists expect a report on Friday to show that U.S. employers added 1.8 million jobs last month, which would be welcome growth but also a slowdown from June.

The Federal Reserve said last week that it will keep interest rates at their record low levels, as it continues to pump massive amounts of aid into the economy. Now, investors are waiting for Congress to do the same.

*ASX 200 to give back some gains.*
The ASX 200 index looks set to give back some of its gains on Wednesday. According to the latest SPI futures, the benchmark index is expected to open the day 15 points or 0.25% lower. This is despite there being another positive night of trade on Wall Street. Overnight, the Dow Jones rose 0.6%, the S&P 500 climbed 0.35%, and the Nasdaq index pushed 0.35% higher.










https://www.usnews.com/news/busines...hares-extend-rally-after-s-p-500-nears-record

*Stocks Tick Higher on Wall Street, but Treasury Yields Sink*
U.S. stock indexes drifted higher Tuesday as Wall Street’s big rally eased off the accelerator.
By Associated Press, Wire Service Content Aug. 4, 2020, at 4:29 p.m. 

By STAN CHOE, AP Business Writer

NEW YORK (AP) —
U.S. stock indexes drifted higher Tuesday as Wall Street’s big rally eased off the accelerator.

The S&P 500 rose 11.90 points, or 0.4%, to 3,306.51 after flipping between small gains and losses throughout the day. It’s the mildest move for the index in two weeks.

The Dow Jones Industrial Average climbed 164.07 points, or 0.6%, to 26,828.47, and the Nasdaq composite added 38.37, or 0.4%, to close at another record, 10,941.17.

Stock indexes are hanging at or close to their record highs after clawing back all or most of their sell-off from earlier in the year, and the S&P 500 is within 2.4% of its all-time high set in February. But caution is still very prevalent across other markets: Gold rose to another record Tuesday, while Treasury yields sank as investors sought safety.

Within the stock market, energy companies had the biggest gains after the price of oil rose. But two in five S&P 500 stocks were lower following a mixed set of earnings reports.

On the winning end was Take-Two Interactive Software, which rose 5.9%. The video-game maker reported a profit for the spring that was almost double year-ago levels as customers stuck at home played Grand Theft Auto and other games instead of going outside.

It also raised its sales forecast for its fiscal year, a notable move when many companies have been shy to give any kind of prediction given all the uncertainty created by the coronavirus pandemic.

On the opposite end was insurer American International Group. AIG fell 7.5% for one of the larger losses in the S&P 500 even though it reported stronger results for the latest quarter than Wall Street expected. Some analysts cited several unusual items that clouded its report, such as COVID-related losses, which make it difficult to extrapolate how AIG’s profits will run from here.

In Washington, meanwhile, negotiations in the Capitol on a big economic relief package are ongoing. But multiple obstacles remain before a deal can be struck, one that investors say is crucial for propping up the economy in its weakened state.

A weekly $600 in federal unemployment benefits has expired, threatening to crunch the finances of millions of out-of-work Americans. Recent data reports have shown an uptick in the number of workers filing for unemployment benefits after a resurgence of coronavirus counts pushed some states to reimpose restrictions on businesses. Economists expect a report on Friday to show that U.S. employers added 1.8 million jobs last month, which would be welcome growth but also a slowdown from June.

The Federal Reserve said last week that it will keep interest rates at their record low levels, as it continues to pump massive amounts of aid into the economy. Now, investors are waiting for Congress to do the same.

The yield on the 10-year Treasury note fell to 0.50% from 0.56% late Monday. It tends to move with investors’ expectations for the economy and inflation.

The bond market was much earlier than the stock market to signal the coming economic disaster from the coronavirus pandemic. It has also remained much more cautious through the pandemic than the stock market has.

“The dichotomy of low and falling bond yields with ebullient risk asset markets is confusing, and investors are becoming increasingly nervous as yields grind lower,” Northern Trust Wealth Management Chief Investment Officer Katie Nixon said in a commentary.

She said part of the drive lower in yields is worry that the economy may roll into a double-dip recession, which she does not expect. The Fed’s promises to keep short-term rates low and to buy reams of bonds are also helping to keep a lid on yields, which also helps push investors into stocks.

Gold has been another investment that has moved strongly recently because of low interest rates and worries about the global economy. Gold for delivery in December rose $34.70 to settle at $2,021.00 per ounce.

In Europe, Germany’s DAX slipped 0.4% to give back some of its big gain from a day earlier, when reports showed that manufacturing recovered across much of the continent last month. France’s CAC 40 added 0.3%, and the FTSE 100 in London was up 0.1%.

In Asia, markets were more buoyant. Tokyo’s Nikkei 225 gained 1.7%, the Hang Seng in Hong Kong added 2% and the Kospi in Seoul picked up 1.3%. Stocks in Shanghai edged 0.1% higher.

Benchmark U.S. crude oil rose 69 cents to settle at $41.70 per barrel. Brent crude, the international standard, added 28 cents to $44.43 a barrel.


----------



## bigdog

Wall Street’s big rally keeps rolling, and the S&P 500 rose for a fourth straight day Wednesday to sit just 1.7% below its record.

The S&P 500 climbed 21.26 points, or 0.6%, to 3,327.77, echoing gains for stocks across Europe and Asia. If the U.S. market has just a few more days like that, it will erase the last of the historic losses it's taken since February because of the coronavirus pandemic and the recession it caused.

The Dow Jones Industrial Average rose 373.05, or 1.4%, to 27,201.52, and the Nasdaq composite added 57.23, or 0.5%, to set another record at 10,998.40.

Much of Wall Street’s focus this week has been on Washington, where Congress and White House officials are negotiating on more aid for an economy that's shown some improvement but is still hobbling. Investors say such a package is crucial and needs to arrive quickly, with millions of Americans still out of work and $600 in weekly unemployment benefits from the U.S. government having recently expired.

Treasury Secretary Steven Mnuchin said late Tuesday that the two sides set a goal of reaching an agreement by the end of the week to permit a vote next week, though negotiators said the two sides remain far apart on key issues.

The pressure on Washington to act quickly is mounting. A report on Wednesday suggested that hiring was far weaker last month than economists expected. Private employers added just 167,000 jobs, according to a survey by payroll processor ADP, well below the 1.2 million that economists had forecast.

It highlights the damage that a resurgence in coronavirus cases across much of the country is doing to the economy. It also puts an even brighter spotlight on Friday’s more comprehensive jobs report coming from the Labor Department.

Investors across the stock market seem to be assuming that Congress will reach a deal sooner rather than later, as well as that the economy will continue to improve despite the pandemic, said Willie Delwiche, investment strategist at Baird.

“If either one of those gets challenged, then you could see more volatility in stocks,” he said.

*ASX 200 to bounce back.*
It looks set to be a better day of trade for the ASX 200 index on Thursday. According to the latest SPI futures, the benchmark index is expected to open the day 27 points or 0.45% higher this morning. This follows a positive night of trade on Wall Street which saw the Dow Jones rise 1.4%, the S&P 500 climb 0.65%, and the Nasdaq index push 0.5% higher.











https://www.usnews.com/news/busines...xed-amid-jitters-over-us-stimulus-china-trade

*Wall Street Keeps Rallying; S&P 500 Back Within 2% of Record*
Stocks climbed again on Wall Street, giving the S&P 500 index its fourth straight gain and pulling it within 2% of the record high it set in February.
By Associated Press, Wire Service Content Aug. 5, 2020, at 4:26 p.m. 

By STAN CHOE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Wall Street’s big rally keeps rolling, and the S&P 500 rose for a fourth straight day Wednesday to sit just 1.7% below its record.

The S&P 500 climbed 21.26 points, or 0.6%, to 3,327.77, echoing gains for stocks across Europe and Asia. If the U.S. market has just a few more days like that, it will erase the last of the historic losses it's taken since February because of the coronavirus pandemic and the recession it caused.

The Dow Jones Industrial Average rose 373.05, or 1.4%, to 27,201.52, and the Nasdaq composite added 57.23, or 0.5%, to set another record at 10,998.40.

Much of Wall Street’s focus this week has been on Washington, where Congress and White House officials are negotiating on more aid for an economy that's shown some improvement but is still hobbling. Investors say such a package is crucial and needs to arrive quickly, with millions of Americans still out of work and $600 in weekly unemployment benefits from the U.S. government having recently expired.

Treasury Secretary Steven Mnuchin said late Tuesday that the two sides set a goal of reaching an agreement by the end of the week to permit a vote next week, though negotiators said the two sides remain far apart on key issues.

The pressure on Washington to act quickly is mounting. A report on Wednesday suggested that hiring was far weaker last month than economists expected. Private employers added just 167,000 jobs, according to a survey by payroll processor ADP, well below the 1.2 million that economists had forecast.

It highlights the damage that a resurgence in coronavirus cases across much of the country is doing to the economy. It also puts an even brighter spotlight on Friday’s more comprehensive jobs report coming from the Labor Department.

Investors across the stock market seem to be assuming that Congress will reach a deal sooner rather than later, as well as that the economy will continue to improve despite the pandemic, said Willie Delwiche, investment strategist at Baird.

“If either one of those gets challenged, then you could see more volatility in stocks,” he said.

The Walt Disney Co. rose 8.8% for one of the biggest gains in the S&P 500 after the media giant reported a profit for the spring that beat Wall Street’s expectations, even if it was down sharply from a year earlier.

Prudential Financial rose 6.2%, helping to drive the financial sector to one of the market's bigger gains, after it likewise reported results that weren't as bad as analysts had forecast.

That’s been the trend across much of the market this reporting season. Stocks have continued to climb even though S&P 500 companies appear to be on track to report a roughly 34% drop in earnings per share from a year earlier, according to FactSet. That's in part because investors had prepared for an even steeper drop.

“The overall theme from earnings has been ‘not as bad as we feared,'" Delwiche said. "Estimates came down, and now everybody’s beating that really low bar. Management is as in the dark as everyone else, in terms of what the path of this recovery is going to be. Everyone is kind of waiting to see what happens next in terms of the recovery.”

Investors are betting that the plunge in profits will prove to be only temporary and that earnings will recover as economies reopen and a vaccine for the new coronavirus hopefully gets developed to help the world get closer to normal.

Shares of biotech company Novavax jumped 10.4% after it reported data on its vaccine candidate for COVID-19. Analysts cautioned not to over-interpret the data but called it encouraging.

A better-than-expected reading on the nation's services sector also added to the mixed picture on the economy. The services sector includes retail, health care and transportation, and it makes up the bulk of the U.S. economy. It grew in July for the second straight month, according to a survey by the Institute for Supply Management, and accelerated when economists were expecting a slight slowdown.

Even within that report, though, were seeds of concern. Growth in new orders helped to drive the reading higher, but employment trends in the report weren't as encouraging.

Treasury yields rose, reclaiming some of their lost ground from a day before when they sank to a nearly five-month low. The yield on the 10-year Treasury climbed to 0.54% from 0.51% late Tuesday.

Yields have remained very low as investors have continued to worry about the weak economy and as the Federal Reserve has unleashed massive amounts of stimulus.

Gold rose even further into record territory, continuing its strong climb since the spring amid nervousness about the economy and super-low interest rates. Gold for delivery in December, the most actively traded contract, rose $28.30 to settle at $2,049.30 per ounce.

In Europe, Germany’s DAX returned 0.5%, and France’s CAC 40 rose 0.9%. The FTSE 100 in London added 1.1%.

In Asia, Japan’s Nikkei 225 slipped 0.3%, but South Korea’s Kospi added 1.4%. Hong Kong’s Hang Seng rose 0.6%, and stocks in Shanghai inched up 0.2%.

Benchmark U.S. crude rose 49 cents to settle at $42.19 per barrel. Brent crude, the international standard, added 74 cents to $45.17 a barrel.


----------



## bigdog

Stocks perked higher on Wall Street Thursday after a report showed the pace of layoffs across the country is slowing, though it remains incredibly high.

The S&P 500 rose 21.39, or 0.6%, to 3,349.16, as investors also waited for Congress and the White House to reach a hoped-for deal on more aid for the economy. It was the fifth straight gain for the index, which now hangs just 1.1% below its record set in February. Early in the spring, when panic about the pandemic was at its height, the S&P 500 had been down nearly 34%.

The Dow Jones Industrial Average climbed 185.46, or 0.7%, to 27,386.98 after it and other indexes waffled between smaller gains and losses for much of the day. The Nasdaq composite rose 109.67, or 1%, to 11,108.07 and set another record.

The day’s headline economic report showed that nearly 1.2 million workers applied for unemployment benefits last week. It would have been an astounding number before the coronavirus pandemic leveled the economy. But it’s a slight slowdown from the prior week’s tally, and it was also not as bad as economists were expecting.

“The market is searching for footholds of good news,” said Nela Richardson, investment strategist at Edward Jones. “The fact that nearly 1.2 million jobless claims in a single week is considered good news shows you how far we’ve deteriorated in the labor market.”

It was also the first drop in jobless claims following two weeks of increases, and economists called it an encouraging step. But the threat of more business closures due to the continuing pandemic means the path remains treacherous.

Investors have been pushing stocks higher despite such worries, in part on expectations that Washington will work through partisan disagreements and strike a deal on more assistance for out-of-work Americans, along with other measures.

Investors say it’s crucial that the aid comes, and quickly, after $600 weekly in jobless benefits from the U.S. government recently expired. The economy has shown signs of improvement since the spring, but it’s still hobbling, and worries are high that it may backtrack amid a resurgence in coronavirus counts.

Democrats and Republicans traded criticism of each other on Thursday, following a Wednesday session that produced no progress. Negotiations are continuing, and both sides have set a goal of reaching a deal by week’s end, even if that increasingly appears to be out of reach.

Richardson said the possibility of President Donald Trump using his executive authority to extend coronavirus relief if Congress fails to reach a deal may have helped lift the market Thursday.

Despite the market’s gains, slightly more stocks fell in the S&P 500 than rose, with the health care sector the heaviest weight on the index. 

*ASX 200 to edge lower.*
The ASX 200 index looks set to end the week in a subdued fashion. According to the latest SPI futures, the benchmark index is expected to open the day 7 points or 0.1% lower this morning. This is despite a positive night of trade on Wall Street which saw the Dow Jones rise 0.6%, the S&P 500 climb 0.65%, and the Nasdaq index storm 1% higher. This follows the release of better than expected U.S. jobs data.










https://apnews.com/d2bcea000dada47f34144d189d858359

*Wall Street perks up as S&P 500 pulls within 1.1% of record*
By STAN CHOE and ALEX VEIGA

NEW YORK (AP) — Stocks perked higher on Wall Street Thursday after a report showed the pace of layoffs across the country is slowing, though it remains incredibly high.

The S&P 500 rose 21.39, or 0.6%, to 3,349.16, as investors also waited for Congress and the White House to reach a hoped-for deal on more aid for the economy. It was the fifth straight gain for the index, which now hangs just 1.1% below its record set in February. Early in the spring, when panic about the pandemic was at its height, the S&P 500 had been down nearly 34%.

The Dow Jones Industrial Average climbed 185.46, or 0.7%, to 27,386.98 after it and other indexes waffled between smaller gains and losses for much of the day. The Nasdaq composite rose 109.67, or 1%, to 11,108.07 and set another record.

The day’s headline economic report showed that nearly 1.2 million workers applied for unemployment benefits last week. It would have been an astounding number before the coronavirus pandemic leveled the economy. But it’s a slight slowdown from the prior week’s tally, and it was also not as bad as economists were expecting.

“The market is searching for footholds of good news,” said Nela Richardson, investment strategist at Edward Jones. “The fact that nearly 1.2 million jobless claims in a single week is considered good news shows you how far we’ve deteriorated in the labor market.”

It was also the first drop in jobless claims following two weeks of increases, and economists called it an encouraging step. But the threat of more business closures due to the continuing pandemic means the path remains treacherous.

Investors have been pushing stocks higher despite such worries, in part on expectations that Washington will work through partisan disagreements and strike a deal on more assistance for out-of-work Americans, along with other measures.

Investors say it’s crucial that the aid comes, and quickly, after $600 weekly in jobless benefits from the U.S. government recently expired. The economy has shown signs of improvement since the spring, but it’s still hobbling, and worries are high that it may backtrack amid a resurgence in coronavirus counts.

Democrats and Republicans traded criticism of each other on Thursday, following a Wednesday session that produced no progress. Negotiations are continuing, and both sides have set a goal of reaching a deal by week’s end, even if that increasingly appears to be out of reach.

Richardson said the possibility of President Donald Trump using his executive authority to extend coronavirus relief if Congress fails to reach a deal may have helped lift the market Thursday.

Despite the market’s gains, slightly more stocks fell in the S&P 500 than rose, with the health care sector the heaviest weight on the index. Becton Dickinson sank 8.4% after it gave a forecast for earnings this fiscal year that fell short of analysts’ expectations.

Western Digital, which makes hard disks and other storage for electronics, slumped 16.1% for the largest loss in the S&P 500 after it gave a profit forecast for the current quarter that wasn’t as strong as Wall Street’s.

More gains for Apple helped to lift the market. The iPhone maker reported blowout profits for the spring a week ago, and its stock has climbed every day since then. The gains have been so strong that it may become the country’s first company to be worth $2 trillion. After rising 3.5% Thursday, it’s at roughly $1.93 trillion.

Sealed Air, the company behind Bubble Wrap and Cryovac packaging, rose 8.8% for one of the biggest gains in the S&P 500 after it reported stronger earnings for the latest quarter than analysts forecast. It also gave a better-than-expected estimate for earnings this year.

The yield on the 10-year Treasury dipped to 0.53% from 0.54% late Wednesday. It pared a steeper drop from the morning, but it remains very low amid worries about the economy and as the Federal Reserve has pinned short-term rates at nearly zero.

Some analysts have been concerned about the wide disconnect between the bond market, which is still showing so much caution, and the stock market, which has rallied back toward record heights. Even though the stock market is not the economy — it’s increasingly dominated by a handful of Big Tech companies that can profit even during a pandemic, and profit is what drives stock prices in the long run — critics say the degree of the gap between them is concerning.

Gold also continued its record run as investors looked for safety. Gold for delivery in December rose $20.10 to settle at $2,069.40 per ounce.

Benchmark U.S. crude oil slipped 24 cents to settle at $41.95 per barrel. Brent crude, the international standard, fell 8 cents to $45.09 a barrel.

In European stocks markets, Germany’s DAX lost 0.5%, and France’s CAC 40 fell 1%. The FTSE 100 in London dropped 1.3%.

Asian markets were mixed. Japan’s Nikkei 225 slipped 0.4%, but South Korea’s Kospi rose 1.3%. The Hang Seng in Hong Kong lost 0.7%, but stocks in Shanghai added 0.3%.


----------



## bigdog

Wall Street’s big rally let off the accelerator on Friday, despite a better-than-expected report on the U.S. job market, amid worries about worsening U.S.-China tensions and whether Washington can deliver more aid for the economy.

The S&P 500 inched up 2.12 points, or 0.1%, to 3,351.28 to eke out a sixth straight gain, after being down most of the day. It's back within 1% of its record for the first time since February. The Dow Jones Industrial Average added 46.50, or 0.2%, to 27,433.48.

Technology stocks fell, though, on worries that China could retaliate for President Donald Trump’s latest escalation against Chinese tech companies. The Nasdaq composite dropped 97.09, or 0.9%, to 11,010.98 after setting a record Thursday. It’s a rare stumble for big tech stocks, which have soared on expectations they can keep raking in profits regardless of the pandemic.

“The Chinese aren’t going to take this lightly,” said Quincy Krosby, chief market strategist at Prudential Financial. “They’ve already suggested they might take it to court. The point is the market is projecting we’re going to see a ratcheting up of tensions between the U.S. and China, and it could focus on technology.”

The day’s headline economic report was an encouraging one for investors: Employers added nearly 1.8 million jobs last month, about 185,000 more than economists had forecast. Analysts said they found some encouraging trends throughout the report, such as a stronger-than-expected rise in average hourly earnings.

“Yes, future employment data will likely slow due to more COVID-19 restrictions, but for now you have to be quite impressed with how far we’ve come the last few months,” Ryan Detrick, chief investment strategist for LPL Financial, said in a statement.

Several areas of the market that tend to rise when investor upgrade their expectations for the economy rallied.

Stocks of smaller companies climbed more than their bigger rivals, and the Russell 2000 index of small-cap stocks jumped 24.56, or 1.6%, to 1,569.18. Treasury yields also rose. Financial stocks, which have swung sharply with prospects for the economy and interest rates, had the biggest gain of the 11 sectors that make up the S&P 500. Seven out of 10 stocks within the index rose for the day.

Still, the jobs report also showed that hiring slowed in July after two months of acceleration, and the job market remains far below where it was before the pandemic.

Analysts said the better-than-expected jobs report may also have removed some of the urgency from talks on Capitol Hill, where Congress and White House officials have been negotiating on a hoped-for deal on more aid for the economy. They had set an informal Friday deadline to reach the outlines of an agreement, including benefits for unemployed workers, and Treasury Secretary Steven Mnuchin came out of talks Friday saying no progress was made.










https://www.usnews.com/news/busines...-skid-amid-virus-woes-china-us-trade-tensions

*S&P 500 Ekes Out 6th Straight Gain Following Jobs Report*
Wall Street’s big rally let off the accelerator on Friday, despite a better-than-expected report on the U.S. job market, amid worries about worsening U.S.-China tensions and whether Washington can deliver more aid for the economy.
By Associated Press, Wire Service Content Aug. 7, 2020, at 5:31 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Wall Street’s big rally let off the accelerator on Friday, despite a better-than-expected report on the U.S. job market, amid worries about worsening U.S.-China tensions and whether Washington can deliver more aid for the economy.

The S&P 500 inched up 2.12 points, or 0.1%, to 3,351.28 to eke out a sixth straight gain, after being down most of the day. It's back within 1% of its record for the first time since February. The Dow Jones Industrial Average added 46.50, or 0.2%, to 27,433.48.

Technology stocks fell, though, on worries that China could retaliate for President Donald Trump’s latest escalation against Chinese tech companies. The Nasdaq composite dropped 97.09, or 0.9%, to 11,010.98 after setting a record Thursday. It’s a rare stumble for big tech stocks, which have soared on expectations they can keep raking in profits regardless of the pandemic.

“The Chinese aren’t going to take this lightly,” said Quincy Krosby, chief market strategist at Prudential Financial. “They’ve already suggested they might take it to court. The point is the market is projecting we’re going to see a ratcheting up of tensions between the U.S. and China, and it could focus on technology.”

The day’s headline economic report was an encouraging one for investors: Employers added nearly 1.8 million jobs last month, about 185,000 more than economists had forecast. Analysts said they found some encouraging trends throughout the report, such as a stronger-than-expected rise in average hourly earnings.

“Yes, future employment data will likely slow due to more COVID-19 restrictions, but for now you have to be quite impressed with how far we’ve come the last few months,” Ryan Detrick, chief investment strategist for LPL Financial, said in a statement.

Several areas of the market that tend to rise when investor upgrade their expectations for the economy rallied.

Stocks of smaller companies climbed more than their bigger rivals, and the Russell 2000 index of small-cap stocks jumped 24.56, or 1.6%, to 1,569.18. Treasury yields also rose. Financial stocks, which have swung sharply with prospects for the economy and interest rates, had the biggest gain of the 11 sectors that make up the S&P 500. Seven out of 10 stocks within the index rose for the day.

Still, the jobs report also showed that hiring slowed in July after two months of acceleration, and the job market remains far below where it was before the pandemic.

Analysts said the better-than-expected jobs report may also have removed some of the urgency from talks on Capitol Hill, where Congress and White House officials have been negotiating on a hoped-for deal on more aid for the economy. They had set an informal Friday deadline to reach the outlines of an agreement, including benefits for unemployed workers, and Treasury Secretary Steven Mnuchin came out of talks Friday saying no progress was made.

Mnuchin said Trump is considering executive orders to address some of the issues without Congress, but critics question how much impact they would have.

Investors say Washington needs to act quickly because $600 in weekly unemployment benefits from the federal government just expired. The economy has shown signs of improvement since the spring but is still hobbling, and concerns are rising that it could backtrack amid a resurgence in coronavirus counts.

“The market clearly believes that a package is necessary to cushion the downside of the pandemic-induced slowdown in the economy,” Prudential Financial’s Krosby said. And even though last month's jobs gains were bigger than expected, “it still suggests there’s a long way to go to heal the labor market.”

The market also focused on Trump's order for a sweeping but vague ban on dealings with the Chinese owners of popular social media apps TikTok and WeChat on security grounds.

China’s government criticized the move as “political manipulation.”

Tensions between the world’s two largest economies have been escalating for years, highlighted by the U.S.-China trade war that seemed to have reached at least a temporary truce early this year. But tough talk has continued to flow, with Trump keying in on TikTok in particular recently.

The escalating U.S.-China tensions helped send tech stocks in the S&P 500 down 1.6% Friday, more than quintuple the loss of any of the other 10 sectors that make up the index.

Even Apple, whose stock has been nearly unstoppable through the pandemic, slumped. It fell 2.3% for its first drop in eight days.

The yield on the 10-year Treasury rose to 0.56% from 0.53% late Thursday.

Gold slipped, a rare step back following its record-setting run as investors seek safety amid a weak global economy, trade tensions and low interest rates. An ounce of gold to be delivered in December lost $41.40 to settle at $2,028.00.

Benchmark U.S. crude fell 73 cents to settle at $41.22 per barrel. Brent crude, the international standard, lost 69 cents to $44.40 a barrel.

In China, stocks in Shanghai lost 1%. The Hang Seng in Hong Kong dropped 1.6%, while Japan’s Nikkei 225 slipped 0.4% and South Korea’s Kospi added 0.4%.

In Europe, Germany’s DAX returned 0.7%, and France’s CAC 40 rose 0.1%. The FTSE 100 in London added 0.1%.

2143


----------



## bigdog

*ASX 200 expected to charge higher.*
The ASX 200 looks set to start the week on a positive note. According to the latest SPI futures, the ASX 200 is poised to open the week 42 points or 0.7% higher on Monday. This is despite it being a reasonably subdued finish to the week on Wall Street. On Friday the Dow Jones rose 0.2%, the S&P 500 edged slightly higher, and the Nasdaq index fell 0.9%.


----------



## bigdog

U.S. stock indexes closed mostly higher Monday, nudging the S&P 500 within striking distance of its all-time high set in February.

The S&P 500 rose 0.3% after wavering between small gains and losses in the early going. The benchmark index is now within 1% of its last record high.

The gains came on the first trading day since President Donald Trump announced several stopgap moves to aid the economy in response to the collapse of talks on Capitol Hill for a bigger rescue package.

Trump signed executive orders over the weekend to extend an expired benefit for unemployed workers, among other things. The orders were more limited than what investors hoped to see from a full rescue bill for the economy, but hopes remain that the White House and Congress can return to talks and find a compromise.

The S&P 500 gained 9.19 points to 3,360.47. The Dow Jones Industrial Average rose 357.96 points, or 1.3%, to 27,791.44. The Nasdaq composite lost 42.63 points, or 0.4%, to 10,968.36.

Most stocks across Wall Street rose, with hotels, cruise operators and airlines — among the hardest-hit companies due to the pandemic — seeing the biggest gains. Smaller stocks also had a strong showing, pushing the Russell 2000 index up 15.49 points, or 1%, to 1,584.67. Losses in technology, health care and communication services stocks, which have been among the biggest gainers this year, kept the market's gains in check.

“The more economically sensitive stocks are driving the market higher,” said Brent Schutte, chief investment strategist of Northwestern Mutual Wealth Management. “The rest of the market today and over the past few days is doing better.”

MGM Resorts International jumped 13.8% for the biggest gain in the S&P 500 after IAC disclosed that it had built a roughly $1 billion stake in the company. Like other businesses that depend on people feeling safe enough to travel, MGM Resorts has been pummeled by the pandemic, and its shares more than halved in March alone. Barry Diller, IAC’s chairman, called it a “once in a decade” opportunity, citing its potential to move business online.

But losses for technology stocks weighed on the market. It's a continuation of their struggles from Friday, when worries rose that worsening U.S.-China relations could mean retaliations against the U.S. tech industry. It's a relatively rare setback for the industry, which has been the year’s biggest winner so far and cruised through much of the pandemic. Critics had already been calling tech stocks overpriced, even after accounting for their huge and resilient profits.

The S&P 500 extended its winning streak to seven days, its longest since the spring of 2019. The benchmark index has nearly reached the record high it set in February, before the pandemic pancaked the economy into recession. It had been down nearly 34% in March.

*ASX 200 expected to edge higher.*
The ASX 200 is poised to edge higher on Tuesday after a positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is set to open the day 1 point higher. Over in the United States, the Dow Jones jumped 1.3%, the S&P 500 rose 0.3%, and the Nasdaq index fell 0.4%.










https://www.usnews.com/news/busines...res-mostly-higher-on-stimulus-moves-jobs-data

*Stocks Rise on Wall Street; S&P 500 Within 1% of Record*
Stocks closed mostly higher on Wall Street after shrugging off a bumpy start Monday, nudging the S&P 500 within striking distance of its all-time high set in February.
By Associated Press, Wire Service Content Aug. 10, 2020, at 5:07 p.m.

By STAN CHOE, ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

U.S. stock indexes closed mostly higher Monday, nudging the S&P 500 within striking distance of its all-time high set in February.

The S&P 500 rose 0.3% after wavering between small gains and losses in the early going. The benchmark index is now within 1% of its last record high.

The gains came on the first trading day since President Donald Trump announced several stopgap moves to aid the economy in response to the collapse of talks on Capitol Hill for a bigger rescue package.

Trump signed executive orders over the weekend to extend an expired benefit for unemployed workers, among other things. The orders were more limited than what investors hoped to see from a full rescue bill for the economy, but hopes remain that the White House and Congress can return to talks and find a compromise.

The S&P 500 gained 9.19 points to 3,360.47. The Dow Jones Industrial Average rose 357.96 points, or 1.3%, to 27,791.44. The Nasdaq composite lost 42.63 points, or 0.4%, to 10,968.36.

Most stocks across Wall Street rose, with hotels, cruise operators and airlines — among the hardest-hit companies due to the pandemic — seeing the biggest gains. Smaller stocks also had a strong showing, pushing the Russell 2000 index up 15.49 points, or 1%, to 1,584.67. Losses in technology, health care and communication services stocks, which have been among the biggest gainers this year, kept the market's gains in check.

“The more economically sensitive stocks are driving the market higher,” said Brent Schutte, chief investment strategist of Northwestern Mutual Wealth Management. “The rest of the market today and over the past few days is doing better.”

MGM Resorts International jumped 13.8% for the biggest gain in the S&P 500 after IAC disclosed that it had built a roughly $1 billion stake in the company. Like other businesses that depend on people feeling safe enough to travel, MGM Resorts has been pummeled by the pandemic, and its shares more than halved in March alone. Barry Diller, IAC’s chairman, called it a “once in a decade” opportunity, citing its potential to move business online.

But losses for technology stocks weighed on the market. It's a continuation of their struggles from Friday, when worries rose that worsening U.S.-China relations could mean retaliations against the U.S. tech industry. It's a relatively rare setback for the industry, which has been the year’s biggest winner so far and cruised through much of the pandemic. Critics had already been calling tech stocks overpriced, even after accounting for their huge and resilient profits.

The S&P 500 extended its winning streak to seven days, its longest since the spring of 2019. The benchmark index has nearly reached the record high it set in February, before the pandemic pancaked the economy into recession. It had been down nearly 34% in March.

Investors have been saying the economy needs another big lifeline from Washington, and quickly, after $600 in weekly unemployment benefits for workers from the federal government expired with July's end. But talks broke apart on Friday, and Trump issued his executive orders on Saturday. Both the White House and congressional Democrats indicated Sunday they wanted to resume negotiations, but no talks were scheduled.

Almost immediately after Trump signed the orders, critics said the moves did not go far enough to support the economy and questioned how they would work.

The economy has shown some signs of improvement since the spring but it is still struggling. Friday's jobs report showed a larger-than-expected increase in hiring across the economy during July, but also a slowdown in job growth amid worries that a resurgence in coronavirus infections could force the economy to backtrack.

The impasse on Capitol Hill is just one of several big forces pushing on markets, not even including the rising number of coronavirus counts around the world.

Rising toward the top of the list in recent weeks has been growing antagonism between the United States and China, the world’s largest economies. The latest move in their escalating tensions was China’s announcement of unspecified sanctions against 11 U.S. politicians and heads of organizations promoting democratic causes, including Senators Marco Rubio and Ted Cruz.

The two sides are scheduled to hold trade talks at the end of the week.

Chinese stocks rose earlier in the morning, along with many other markets around the world.

Stocks in Shanghai climbed 0.8%, and South Korea's Kospi added 1.5%. The Hang Seng in Hong Kong, though, dipped 0.6% after the authorities arrested pro-democracy media tycoon Jimmy Lai and some of his associates on suspicion of collusion with foreign powers.

In Europe, Germany's DAX returned 0.1%, and France's CAC 40 gained 0.4%. The FTSE 100 in London added 0.3%.

The yield on the 10-year Treasury rose to 0.58% from 0.56% late Friday.

Benchmark U.S. crude oil for September delivery rose 72 cents to settle at $41.94 a barrel. Brent crude oil for October delivery rose 59 cents to $44.99 a barrel.

Gold added 0.6% to $2,039.70 per ounce.


----------



## bigdog

Wall Street pumped the brakes on its recent rally Tuesday, as a late slide in big technology companies left stocks broadly lower, erasing an early gain.

The reversal left the S&P 500 with a 0.8% loss after having been up 0.6% earlier. The decline in big-name technology stocks like Apple and Microsoft, plus losses in health care and communications stocks, outweighed gains in financial, industrial and energy companies. Tech stocks have far outpaced the rest of the market this year as investors bet they could still thrive in a stay-at-home economy.

The pullback ended the S&P 500′s seven-day winning streak. Despite the sell-off, the benchmark index remains within 2% of the all-time high it reached in February, reflecting a stunning turnaround from a nearly 34% tumble in March when the coronavirus pandemic sent stocks into a nosedive.

Investors have grown more confident in recent weeks amid some positive economic data and better-than-expected second-quarter results from companies, suggesting corporate profits could be headed higher in the second half of this year and in 2021. Traders are also increasingly optimistic that the many pharmaceutical companies working on ways to treat COVID-19 will deliver a working vaccine in the coming months.

“What is a risk worth taking is the assumption that a vaccine will be made available around year-end, and that this vaccine will help eliminate the virus in the coming year,” said Sam Stovall, chief investment strategist at CFRA Research.

The S&P 500 fell 26.78 points to 3,333.69. The Dow Jones Industrial Average dropped 104.53 points, or 0.4%, to 27,686.91. The Nasdaq composite lost 185.53 points, or 1.7%, to 10,782.82. The Russell 2000 index of small company stocks gave up 9.57 points, or 0.6%, to 1,575.10.

European and Asian markets closed broadly higher. Treasury yields rose, a sign that pessimism about the economy is easing. Oil prices fell.

The stock market is on pace for its fifth month of gains in a row, even as the broader U.S. economy continues to struggle. While there have been some positive signs, including a larger-than-expected increase in hiring in July, the economy remains hobbled by high unemployment and an uneven reopening by businesses as the number of new confirmed coronavirus cases has increased in recent weeks. The outlook for a full economic recovery is clouded by worries that the resurgence in infections could force the economy to backtrack.

Unprecedented actions by the Federal Reserve to stabilize markets this spring, including lowering interest rates and ramping up bond purchases, have made stocks attractive relative to other assets and given traders enough confidence to keep snapping up stocks.

*ASX 200 expected to edge higher.*
It could be another positive day for the ASX 200 on Wednesday, despite a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is set rise 5 points or 0.1% at the open. On Wall Street, the major indices gave back their gains to end the day deep in the red. The Dow Jones fell 0.4%, the S&P 500 dropped 0.8%, and the Nasdaq index fell 1.7%.










https://apnews.com/f78de7f4ee05601d32d5c7ec53f83d00

*Late drop leaves S&P 500 lower, breaking a 7-day win streak*
By ALEX VEIGA and DAMIAN J. TROISE

Wall Street pumped the brakes on its recent rally Tuesday, as a late slide in big technology companies left stocks broadly lower, erasing an early gain.

The reversal left the S&P 500 with a 0.8% loss after having been up 0.6% earlier. The decline in big-name technology stocks like Apple and Microsoft, plus losses in health care and communications stocks, outweighed gains in financial, industrial and energy companies. Tech stocks have far outpaced the rest of the market this year as investors bet they could still thrive in a stay-at-home economy.

The pullback ended the S&P 500′s seven-day winning streak. Despite the sell-off, the benchmark index remains within 2% of the all-time high it reached in February, reflecting a stunning turnaround from a nearly 34% tumble in March when the coronavirus pandemic sent stocks into a nosedive.

Investors have grown more confident in recent weeks amid some positive economic data and better-than-expected second-quarter results from companies, suggesting corporate profits could be headed higher in the second half of this year and in 2021. Traders are also increasingly optimistic that the many pharmaceutical companies working on ways to treat COVID-19 will deliver a working vaccine in the coming months.

“What is a risk worth taking is the assumption that a vaccine will be made available around year-end, and that this vaccine will help eliminate the virus in the coming year,” said Sam Stovall, chief investment strategist at CFRA Research.

The S&P 500 fell 26.78 points to 3,333.69. The Dow Jones Industrial Average dropped 104.53 points, or 0.4%, to 27,686.91. The Nasdaq composite lost 185.53 points, or 1.7%, to 10,782.82. The Russell 2000 index of small company stocks gave up 9.57 points, or 0.6%, to 1,575.10.

European and Asian markets closed broadly higher. Treasury yields rose, a sign that pessimism about the economy is easing. Oil prices fell.

The stock market is on pace for its fifth month of gains in a row, even as the broader U.S. economy continues to struggle. While there have been some positive signs, including a larger-than-expected increase in hiring in July, the economy remains hobbled by high unemployment and an uneven reopening by businesses as the number of new confirmed coronavirus cases has increased in recent weeks. The outlook for a full economic recovery is clouded by worries that the resurgence in infections could force the economy to backtrack.

Unprecedented actions by the Federal Reserve to stabilize markets this spring, including lowering interest rates and ramping up bond purchases, have made stocks attractive relative to other assets and given traders enough confidence to keep snapping up stocks.

Meanwhile, investors continue to keep an eye on Washington for a fresh lifeline for the U.S. economy. On Saturday, Trump issued executive orders to extend an expired benefit for unemployed workers, among other things, in response to a collapse of negotiations on Capitol Hill for another economic rescue bill. Critics said the moves did not go far enough to support the economy and questioned how they would work.

While talks between Democrats and Republicans on a new economic relief package appear to have stalled, investors are still optimistic both sides will reach an agreement.

“The markets do show that they believe something is going to get passed,” said Tom Martin, senior portfolio manager at Globalt Investments.

Traders also have been grappling with uncertainty over widening antagonisms between the United States and China, the world’s largest economies. The two sides are scheduled to hold virtual trade talks at the end of the week.

The yield on the 10-year Treasury rose to 0.64% from 0.57% late Monday, a big move.

Oil prices closed lower after being up earlier. Benchmark U.S. crude oil for September delivery fell 0.8% to settle at $41.61 per barrel. Brent crude oil for October delivery fell 1.1% to settle at $44.50 per barrel.


----------



## bigdog

Stocks marched broadly higher on Wall Street Wednesday, briefly nudging the S&P 500 above its all-time closing high set in February, before the coronavirus pandemic led to a historic market plunge.

The benchmark index notched a 1.4% gain, its eighth in nine days. It ended within 0.2% of its record high from Feb. 19, before the coronavirus prompted the sudden shutdown of much of the economy.

Big technology stocks led the way higher once again. Health care and communication services stocks also had a strong showing. The rally followed gains for stocks across Europe and much of Asia, while Treasury yields continued their sharp increase after a report on inflation came in higher than expected for the second straight day.

The S&P 500 rose 46.66 points to 3,380.35. The Dow Jones Industrial Average gained 289.93 points, or 1%, to 27,976.84. The Nasdaq composite, which is heavily weighted with technology stocks, climbed 229.42 points, or 2.1%, to 11,012.24. The Russell 2000 index of small company stocks picked up 8.15 points, or 0.5%, to 1,583.25.

Indexes in Europe closed broadly higher. Asian markets were mixed.

The U.S. stock market is on the edge of erasing the last of the losses taken after the coronavirus pandemic crushed the economy into recession, even though the economy is still hobbling despite some recent improvements. In March, the S&P 500 had been down nearly 34% from its record.

Much of the rebound has been due to massive amounts of support from the Federal Reserve, which has slashed interest rates to nearly zero and propped up far-ranging corners of the bond market to keep the economy’s head above water. The ultra-low interest rates mean investors are getting paid very little to own bonds, which pushes some into stocks, boosting their prices.

Congress has also offered unprecedented amounts of aid, though it’s hit a seeming impasse in negotiations to re-up its assistance.

All that support has investors willing to look a few months or a year into the future, when a vaccine for the new coronavirus will hopefully be available and helping the economy get back to normal. More importantly for stock prices, the expectation is that corporate profits will also rebound from their current coronavirus-caused hole.

“Economic data is coming in much better than expected; the earnings season is much better than expected,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. “You couple all of those things with the massive amounts of fiscal and monetary stimulus taking place. That’s why we’ve seen the (market) rally so quickly off its low and at the magnitude that we’ve seen.”

Wall Street’s gains on Wednesday were widespread, with two-thirds of the stocks in the S&P 500 higher.

Technology stocks were among the biggest forces prodding the market higher. It’s a return to form for them, following a mini-stumble in recent days.

*ASX 200 expected to jump.*
The ASX 200 looks set to jump higher on Thursday after a very positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is set rise 43 points or 0.7% at the open. In the United States the Dow Jones rose 1.05%, the S&P 500 climbed 1.4%, and the Nasdaq index stormed 2.1% higher.










https://www.usnews.com/news/busines...ly-lower-in-asia-after-retreat-on-wall-street

*Stocks Rebound on Wall Street, S&P 500 Trades Above Record*
The S&P 500 briefly traded above its record closing high Wednesday, nearly erasing the last of the historic losses it took due to the coronavirus pandemic.
By Associated Press, Wire Service Content Aug. 12, 2020, at 5:53 p.m. 

By STAN CHOE and ALEX VEIGA, AP Business Writers

Stocks marched broadly higher on Wall Street Wednesday, briefly nudging the S&P 500 above its all-time closing high set in February, before the coronavirus pandemic led to a historic market plunge.

The benchmark index notched a 1.4% gain, its eighth in nine days. It ended within 0.2% of its record high from Feb. 19, before the coronavirus prompted the sudden shutdown of much of the economy.

Big technology stocks led the way higher once again. Health care and communication services stocks also had a strong showing. The rally followed gains for stocks across Europe and much of Asia, while Treasury yields continued their sharp increase after a report on inflation came in higher than expected for the second straight day.

The S&P 500 rose 46.66 points to 3,380.35. The Dow Jones Industrial Average gained 289.93 points, or 1%, to 27,976.84. The Nasdaq composite, which is heavily weighted with technology stocks, climbed 229.42 points, or 2.1%, to 11,012.24. The Russell 2000 index of small company stocks picked up 8.15 points, or 0.5%, to 1,583.25.

Indexes in Europe closed broadly higher. Asian markets were mixed.

The U.S. stock market is on the edge of erasing the last of the losses taken after the coronavirus pandemic crushed the economy into recession, even though the economy is still hobbling despite some recent improvements. In March, the S&P 500 had been down nearly 34% from its record.

Much of the rebound has been due to massive amounts of support from the Federal Reserve, which has slashed interest rates to nearly zero and propped up far-ranging corners of the bond market to keep the economy’s head above water. The ultra-low interest rates mean investors are getting paid very little to own bonds, which pushes some into stocks, boosting their prices.

Congress has also offered unprecedented amounts of aid, though it’s hit a seeming impasse in negotiations to re-up its assistance.

All that support has investors willing to look a few months or a year into the future, when a vaccine for the new coronavirus will hopefully be available and helping the economy get back to normal. More importantly for stock prices, the expectation is that corporate profits will also rebound from their current coronavirus-caused hole.

“Economic data is coming in much better than expected; the earnings season is much better than expected,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. “You couple all of those things with the massive amounts of fiscal and monetary stimulus taking place. That’s why we’ve seen the (market) rally so quickly off its low and at the magnitude that we’ve seen.”

Wall Street’s gains on Wednesday were widespread, with two-thirds of the stocks in the S&P 500 higher.

Technology stocks were among the biggest forces prodding the market higher. It’s a return to form for them, following a mini-stumble in recent days.

Big tech-oriented giants like Apple, Microsoft and Amazon have been the year’s biggest winners, carrying the stock market through the pandemic despite the worries about the economy, on expectations they’ll continue to deliver strong growth regardless of whether people are quarantined.

Tesla jumped another 13.1% Wednesday after announcing a 5-for-1 split of its stock, in hopes of making the price of each share more affordable to investors. The stock has surged past $1,400 after starting the year a little below $420.

The yield on the 10-year Treasury rose to 0.67% from 0.66% late Tuesday. It's jumped sharply since sitting at 0.57% late Monday.

A report on Wednesday showed that inflation remains very low, but it ticked up more last month than economists expected. Economists debated how much value the report has, given that inflation is likely to remain weak with the pandemic flattening the economy.

If inflation were to reappear, it could weaken the Federal Reserve's commitment to keeping interest rates low and could ultimately draw some investors away from stocks.

Other risks also continue to loom over the market, including worsening tensions between the United States and China, which are the world's largest economies. Technology companies have been in focus in particular, and worries about potential retaliation by China were a big reason for U.S. tech stocks' struggles earlier in the week.

Partisan rancor in Washington is also threatening the possibility of more assistance for the economy. A $600 weekly unemployment benefit from the U.S. government expired at the end of July, and investors say the economy needs another big lifeline from Washington. President Donald Trump signed several executive orders this past weekend to offer some assistance, but critics say they fall well short of what’s needed.

The recent rise in yields has also slowed the supersonic ascent for gold recently. The metal's price has shot to record highs this year, benefiting from increased demand by investors looking for safety amid the pandemic but not interested in the low yields offered by bonds.

Gold for December delivery rose $2.70 to $1,949.00 an ounce a day after plunging by more than $90 an ounce.

Oil prices rose. Benchmark U.S. crude oil for September delivery rose $1.06 to settle at $42.67 a barrel Wednesday. Brent crude oil for October delivery rose 93 cents to $45.43 a barrel.


----------



## bigdog

Another afternoon fade for stocks left Wall Street just shy of a record on Thursday, after the S&P 500 briefly crossed above its all-time closing high for the second straight day.

The S&P 500 dipped 6.92 points, or 0.2%, to 3,373.43. At one point during the day, it climbed above 3,386.15. That’s the record closing level it set in February, before investors appreciated how much devastation the new coronavirus would cause for the global economy.

The Dow Jones Industrial Average dipped 80.12, or 0.3%, to 27,896.72. The Nasdaq composite climbed 30.27, or 0.3%, to 11,042.50.

It’s just the second loss for the S&P 500 in the last 10 days. The index began stumbling in the early afternoon, as Treasury yields were accelerating following an auction of 30-year bonds by the U.S. government. Higher yields mean prices for bonds were falling.

“We saw a sell-off in bonds, and that led to a little bit of weakness in stocks,” said JJ Kinahan, chief strategist at TD Ameritrade. “It’s not a terrible day by any stretch of the imagination, but it’s also a summer day,” which are traditionally slow for markets.

Yields had already perked up before the auction, following a report showing that 963,000 U.S. workers filed for unemployment benefits last week. It’s an incredibly high number of layoffs, but it’s also the first time the tally has dropped below 1 million since March, before widespread business lockdowns caused a tsunami of layoffs.

Economists said the drop in jobless claims, which was better than the market was expecting, is an encouraging step. But they also cautioned that it could be more of an outlier than a trend, and more data reports are needed to confirm it.

The yield on the 10-year Treasury climbed to 0.71%. It was at 0.57% just on Monday.

Wall Street has erased almost all of the nearly 34% drop the S&P 500 suffered from late February into March, even though the economy is still hobbled despite some recent improvements.

Massive efforts to support the economy by the Federal Reserve and U.S. government helped trigger the rally, and investors are now waiting for Congress and the White House to deliver another round of aid after unemployment benefits and other measures in the last tranche expired.

*ASX 200 expected to edge lower.*
The ASX 200 looks set to edge lower this morning after a disappointing night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is set to edge a single point lower at the open. In the United States the Dow Jones fell 0.3%, the S&P 500 dropped 0.2%, and the Nasdaq index rose 0.3% higher.










https://www.usnews.com/news/busines...-mixed-led-by-tokyo-gains-after-wall-st-rally

*Wall Street Falls Just Short of Record for S&P 500, Again*
Another afternoon fade for stocks left Wall Street just shy of its record heights on Thursday.
By Associated Press, Wire Service Content Aug. 13, 2020, at 5:09 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writer

NEW YORK (AP) — Another afternoon fade for stocks left Wall Street just shy of a record on Thursday, after the S&P 500 briefly crossed above its all-time closing high for the second straight day.

The S&P 500 dipped 6.92 points, or 0.2%, to 3,373.43. At one point during the day, it climbed above 3,386.15. That’s the record closing level it set in February, before investors appreciated how much devastation the new coronavirus would cause for the global economy.

The Dow Jones Industrial Average dipped 80.12, or 0.3%, to 27,896.72. The Nasdaq composite climbed 30.27, or 0.3%, to 11,042.50.

It’s just the second loss for the S&P 500 in the last 10 days. The index began stumbling in the early afternoon, as Treasury yields were accelerating following an auction of 30-year bonds by the U.S. government. Higher yields mean prices for bonds were falling.

“We saw a sell-off in bonds, and that led to a little bit of weakness in stocks,” said JJ Kinahan, chief strategist at TD Ameritrade. “It’s not a terrible day by any stretch of the imagination, but it’s also a summer day,” which are traditionally slow for markets.

Yields had already perked up before the auction, following a report showing that 963,000 U.S. workers filed for unemployment benefits last week. It’s an incredibly high number of layoffs, but it’s also the first time the tally has dropped below 1 million since March, before widespread business lockdowns caused a tsunami of layoffs.

Economists said the drop in jobless claims, which was better than the market was expecting, is an encouraging step. But they also cautioned that it could be more of an outlier than a trend, and more data reports are needed to confirm it.

The yield on the 10-year Treasury climbed to 0.71%. It was at 0.57% just on Monday.

Wall Street has erased almost all of the nearly 34% drop the S&P 500 suffered from late February into March, even though the economy is still hobbled despite some recent improvements.

Massive efforts to support the economy by the Federal Reserve and U.S. government helped trigger the rally, and investors are now waiting for Congress and the White House to deliver another round of aid after unemployment benefits and other measures in the last tranche expired.

Democrats and Republicans are still far apart, but hope remains on Wall Street that they’ll reach a deal on stimulus that investors say is crucially needed.

“The news out of D.C. has really been shrugged off by the market,” said Jason Draho, head of asset allocation for the Americas at UBS Global Wealth Management.

He said investors have also gained more confidence about a broader economic recovery as data reports continue to show steady improvements.

“There’s still a lot of weakness, but various parts of the data are showing improvement,” he said. “There’s a moderation, but not a reversal.”

Most stocks in the S&P 500 and across Wall Street were weaker on Thursday. Energy producers had some of the sharpest losses, but resilience for Apple and several other Big Tech stocks helped to keep the losses in check.

“The pause in stocks right now is more related to the fact that the S&P 500 is essentially battling with an all-time high right now,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab. “There’s a huge level of (technical) resistance.”

He said it’s similar to how the market scuffled for several weeks until late July, when it turned positive for 2020 again.

Cisco Systems slumped 11.2% for the biggest loss in the S&P 500, even though it reported better results for its latest quarter than Wall Street expected. It gave a forecast for the current quarter that fell short of analysts’ forecasts.

In Asian stock markets, Japan’s benchmark Nikkei 225 jumped 1.8%, South Korea’s Kospi gained 0.2% and Hong Kong’s Hang Seng slipped 0.1%. Stocks in Shanghai were virtually flat.

In European markets, Germany’s DAX lost 0.5%, and France’s CAC 40 fell 0.6%. The FTSE 100 in London dropped 1.5%.

Benchmark U.S. crude fell 43 cents to settle at $42.24 per barrel. Brent crude, the international standard, fell 47 cents to $44.96 a barrel.

Gold for delivery in December rose $21.40 to settle at $1,970.40 per ounce.


----------



## bigdog

Stock indexes barely budged on Wall Street Friday, leaving the S&P 500 just shy of its record once again.

The S&P 500 edged down 0.58, or less than 0.1%, to 3,372.85 after drifting between small gains and losses throughout the day. They’re the latest meandering moves for the market, which has taken a pause after erasing almost all of the steep losses caused by the coronavirus pandemic.

In each of the prior two days, the S&P 500 made a brief run above its record closing high, which was set in February, only to fade in the afternoon. It remains within 0.4% of its record.

Wall Street was nearly evenly split between stocks that rose and fell, and the moves were almost uniformly modest. The Dow Jones Industrial Average inched up 34.30 points, or 0.1%, to 27,931.02, while the Nasdaq composite dipped 23.20, or 0.2%, to 11,019.30.

Consumer spending is the main locomotive for the U.S. economy, and a report on Friday showed some more improvements for U.S. retailers, though less than economists expected.

Sales at grocery stores, gas stations and other retailers rose 1.2% last month from June. It’s the third straight month of gains, following a historic plunge in the spring, but it marked a sharp slowdown from June's 8.4% growth. It also fell short of the 2% growth that economists were expecting.

The report showed that the economy is now “more in a gentle phase of recovery," said Mike Zigmont, director of trading and research at Harvest Volatility Management.

“It’s positive, but it’s not as ballistic as it was before,” he said.

Economists say consumer spending could be under more pressure following the expiration of U.S. government programs to aid the economy, including $600 in extra unemployment benefits each week. Investors say it’s crucial that Washington deliver another lifeline to the economy, and markets seem to be assuming a deal will happen.

But Democrats and Republicans say they remain far apart on a possible compromise.

“Congress has to follow up on the stimulus package because they essentially promised it,” Zigmont said.











https://www.usnews.com/news/busines...ixed-on-weak-china-data-worries-over-pandemic

*Stocks Barely Budge on Wall Street; S&P 500 Just Shy of High*
Major stock indexes on Wall Street ended Friday more or less where they started after a day of drifting between small gains and losses.
By Associated Press, Wire Service Content Aug. 14, 2020, at 5:04 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — Stock indexes barely budged on Wall Street Friday, leaving the S&P 500 just shy of its record once again.

The S&P 500 edged down 0.58, or less than 0.1%, to 3,372.85 after drifting between small gains and losses throughout the day. They’re the latest meandering moves for the market, which has taken a pause after erasing almost all of the steep losses caused by the coronavirus pandemic.

In each of the prior two days, the S&P 500 made a brief run above its record closing high, which was set in February, only to fade in the afternoon. It remains within 0.4% of its record.

Wall Street was nearly evenly split between stocks that rose and fell, and the moves were almost uniformly modest. The Dow Jones Industrial Average inched up 34.30 points, or 0.1%, to 27,931.02, while the Nasdaq composite dipped 23.20, or 0.2%, to 11,019.30.

Consumer spending is the main locomotive for the U.S. economy, and a report on Friday showed some more improvements for U.S. retailers, though less than economists expected.

Sales at grocery stores, gas stations and other retailers rose 1.2% last month from June. It’s the third straight month of gains, following a historic plunge in the spring, but it marked a sharp slowdown from June's 8.4% growth. It also fell short of the 2% growth that economists were expecting.

The report showed that the economy is now “more in a gentle phase of recovery," said Mike Zigmont, director of trading and research at Harvest Volatility Management.

“It’s positive, but it’s not as ballistic as it was before,” he said.

Economists say consumer spending could be under more pressure following the expiration of U.S. government programs to aid the economy, including $600 in extra unemployment benefits each week. Investors say it’s crucial that Washington deliver another lifeline to the economy, and markets seem to be assuming a deal will happen.

But Democrats and Republicans say they remain far apart on a possible compromise.

“Congress has to follow up on the stimulus package because they essentially promised it,” Zigmont said.

“Main Street America is counting on it,” he said. “You can’t pull the rug out from under the world.”

The day's trading was notably quiet, with only a few stocks in the S&P 500 falling even 2%. Among the biggest gainers in the index was Applied Materials, which rose 3.9%. The tech company reported stronger results for the summer than analysts expected and also gave a better-than-expected forecast for the current quarter.

Outside the S&P 500, shares of German biopharmaceutical company CureVac more than tripled in their first day of trading. After selling shares at $16 in an initial public offering, the stock jumped to $55.90. The company, whose backers include the Bill & Melinda Gates Foundation and the German government, is developing a vaccine against COVID-19 and other medicines using messenger RNA.

Friday's drift for the S&P 500 left it with a gain of 0.6% for the week. It's the sixth rise in the last seven weeks for the index, but it's also the slowest in the last three.

Treasury yields also slowed their big jump from earlier in the week. The yield on the 10-year Treasury held steady at 0.71%. It had been at 0.57% just on Monday. It climbed through the week after a couple reports on inflation came in higher than expected and after the U.S. Treasury auctioned off more bonds to help cover the government’s huge deficit.

In Europe, stocks trended lower after Britain said it was imposing a 14-day quarantine on travelers from France, which said it would respond in kind. Tourism and travel stocks were hit particularly hard, such as budget airlines easyJet and IAG.

France’s CAC 40 dropped 1.6%, while Germany’s DAX lost 0.7%. The FTSE 100 in London fell 1.5%.

Asian markets were mixed after China reported its factory output rose 4.8% in July from a year earlier, on par with June’s increase. Retail sales fell 1.1%, as consumers remain cautious.

Japan’s benchmark Nikkei 225 gained 0.2%, and South Korea’s Kospi slipped 1.2%. Hong Kong’s Hang Seng dipped 0.2% after gyrating earlier in the day, while stocks in Shanghai gained 1.2%.

Benchmark U.S. crude oil slipped 23 cents to settle at $42.01 per barrel. Brent crude, the international standard, fell 16 cents to $44.80.

Gold for delivery in December fell $20.60 to settle at $1,949.80 per ounce.

2488


----------



## bigdog

*ASX futures pointing lower.*
The benchmark ASX 200 looks set to start the week in the red. According to the latest SPI futures, the ASX 200 is poised to open the week 58 points or 0.95% lower on Monday. This follows a reasonably underwhelming finish to the week on Wall Street. On Friday the Dow Jones rose 0.1%, the S&P 500 was flat, and the Nasdaq index fell 0.2%.


----------



## bigdog

Wall Street nudged a bit higher on Monday, and the S&P 500 teased even closer to its record high.

The benchmark index rose 9.14 points, or 0.3%, to 3,381.99. Earlier in the day, it briefly crossed above its record closing level of 3,386.15, which was set on Feb. 19 before the pandemic  shut down businesses worldwide and created the worst recession in decades. It’s the third time in the last four trading days the index has risen above that record, only to fade later in the day.

Most other U.S. stock indexes also made gains. The Nasdaq composite rose 110.42, or 1%, to 11,129.73, and the smaller stocks in the Russell 2000 index gained 7.59, or 0.5%, to 1,585.47.

The Dow Jones Industrial Average was an outlier and slipped 86.11, or 0.3%, to 27,844.91.

“It seems like a nothing day until you realize we’re sitting right on an all-time high for the S&P 500,” said Mark Hackett, chief of investment research at Nationwide.

The S&P 500 added onto its three-week rally, even though investors are still waiting for Congress to offer more aid to the economy. Investors say it’s crucial that the support comes, particularly after $600 in weekly unemployment benefits and other stimulus from the U.S. government expired.

Markets seem to be banking on Democrats and Republicans coming to a deal, even though both sides say they remain far apart. Without the lifeline, analysts say the economy won’t be able to make the recovery that investors have been assuming is on the way. And that assumption is a huge reason the stock market is as high as it is.

“Hence, another round of stimulus is the difference between ensuring that the economic recovery continues uninterrupted and a meaningful short-term pullback in growth,” Morgan Stanley strategist Michael Zezas wrote in a report.

Investors seem willing to wait for a deal, for now. But if it gets deep into September, and Democrats and Republicans still remain far apart in their negotiations on the size of the deal, Zezas said it may be too close to the election to get one done.

Wall Street was nearly evenly split between stocks rising and falling Monday, with tech stocks again helping to lead the way. They’ve been remarkably resilient through the pandemic as investors build up bets they can continue to grow as work-from-home and other trends accelerate.

Tech stocks across the S&P 500 climbed 0.5%, and they alone accounted for about two-thirds of the index’s gain. Nvidia jumped 6.7% for one of the biggest gains in the index, and Microsoft added 0.7%.

*ASX 200 expected to rebound.*
The benchmark ASX 200 looks set to rebound on Tuesday. According to the latest SPI futures, the ASX 200 is poised to open the day 33 points or 0.55% higher this morning. This follows a positive start to the week on Wall Street, which saw the Dow Jones fall 0.2%, but the S&P 500 rise 0.3% and the Nasdaq jump 1%. The latter could be good news for locally listed tech shares which tend to follow its lead.










https://apnews.com/ff2d0a25cffc7361b19a3c63cc83a3b5

*Gains for tech stocks nudge S&P 500 even closer to record*
By STAN CHOE and DAMIAN J. TROISE

NEW YORK (AP) — Wall Street nudged a bit higher on Monday, and the S&P 500 teased even closer to its record high.

The benchmark index rose 9.14 points, or 0.3%, to 3,381.99. Earlier in the day, it briefly crossed above its record closing level of 3,386.15, which was set on Feb. 19 before the pandemic  shut down businesses worldwide and created the worst recession in decades. It’s the third time in the last four trading days the index has risen above that record, only to fade later in the day.

Most other U.S. stock indexes also made gains. The Nasdaq composite rose 110.42, or 1%, to 11,129.73, and the smaller stocks in the Russell 2000 index gained 7.59, or 0.5%, to 1,585.47.

The Dow Jones Industrial Average was an outlier and slipped 86.11, or 0.3%, to 27,844.91.

“It seems like a nothing day until you realize we’re sitting right on an all-time high for the S&P 500,” said Mark Hackett, chief of investment research at Nationwide.

The S&P 500 added onto its three-week rally, even though investors are still waiting for Congress to offer more aid to the economy. Investors say it’s crucial that the support comes, particularly after $600 in weekly unemployment benefits and other stimulus from the U.S. government expired.

Markets seem to be banking on Democrats and Republicans coming to a deal, even though both sides say they remain far apart. Without the lifeline, analysts say the economy won’t be able to make the recovery that investors have been assuming is on the way. And that assumption is a huge reason the stock market is as high as it is.

“Hence, another round of stimulus is the difference between ensuring that the economic recovery continues uninterrupted and a meaningful short-term pullback in growth,” Morgan Stanley strategist Michael Zezas wrote in a report.

Investors seem willing to wait for a deal, for now. But if it gets deep into September, and Democrats and Republicans still remain far apart in their negotiations on the size of the deal, Zezas said it may be too close to the election to get one done.

Wall Street was nearly evenly split between stocks rising and falling Monday, with tech stocks again helping to lead the way. They’ve been remarkably resilient through the pandemic as investors build up bets they can continue to grow as work-from-home and other trends accelerate.

Tech stocks across the S&P 500 climbed 0.5%, and they alone accounted for about two-thirds of the index’s gain. Nvidia jumped 6.7% for one of the biggest gains in the index, and Microsoft added 0.7%.

But losses for financial and energy stocks helped restrain the market’s gains. These areas tend to rise and fall with expectations for the economy, and they had been showing a bit more life in recent weeks in an encouraging sign for market watchers.

Smaller stocks and transportation stocks have also been making gains recently, said Nationwide’s Hackett, who called it “good news for the sustainability of the rally.”

“It’s very hard for Microsoft, Amazon and Tesla to continue to do all the heavy lifting,” he said. “You’re going to need some help from others.”

Shares of several banks were under pressure Monday after Warren Buffett’s Berkshire Hathaway disclosed that it cut back its investments in them. Wells Fargo slumped 3.3% after the famed value investor trimmed Berkshire Hathaway’s ownership stake by about a quarter.

Treasury yields moderated a bit, following the big run for the 10-year yield last week. It dipped to 0.68% from 0.71% late Friday. It had zoomed upward from 0.56% through the week.

Higher yields can be an indication that investors are upgrading their expectations for inflation and the economy. But they can also pull some buyers away from stocks into bonds, hurting stock prices in the process.

European stock markets rose modestly. In Germany, the DAX returned 0.1%, and France’s CAC 40 added 0.2%. The FTSE 100 in London rose 0.6%.

In Asia, Japan’s Nikkei 225 fell 0.8% after data showed the world’s third-largest economy shrank at an annual rate of 27.8% in April-June, the worst contraction on record.

Hong Kong’s Hang Seng gained 0.7%, and stocks in Shanghai jumped 2.3% after analysts said actions by China’s central bank raised the possibility of more support ahead for the market.

Benchmark U.S. crude oil added 88 cents to settle at $42.89 per barrel. Brent crude, the international standard, rose 57 cents to $45.37 per barrel.

Gold for delivery in December climbed $48.90 to settle at $1,998.70 per ounce.


----------



## bigdog

Wall Street clawed back the last of the historic, frenzied losses unleashed by the new coronavirus, as the S&P 500 closed at an all-time high Tuesday.

The day’s move was a relatively mild one, nudging the index up 7.79 points, or 0.2%, to 3,389.78. That eclipses the S&P 500′s previous record closing high of 3,386.15, which was set Feb. 19, before the pandemic shut down businesses around the world and knocked economies into their worst recessions in decades.

The S&P 500′s milestone caps a furious, 51.5% rally that began in late March. The index, which is the benchmark for many stock funds at the heart of 401(k) plans, is now up nearly 5% for the year.

The stock market’s sprint back to an all-time high also means that the gut-wrenching, nearly 34% plunge for the S&P 500 from Feb. 19 through March 23 was the quickest bear market on record, clocking in at just one month. By comparison, it's taken the average bear market 19.6 months to bottom out, according to S&P Dow Jones Indices.

Tremendous amounts of aid from the Federal Reserve and Congress helped launch the rally, which built higher on signs of budding growth in the economy. More recently, blowout corporate profit reports from technology giants such as Apple and Microsoft and earnings from harder-hit industries that weren’t as bad as expected have helped boost stock prices.

The S&P 500 spent the past few days within striking distance of a new high, but fell short of the milestone until finally breaking through on Tuesday.

The Dow Jones Industrial Average fell 66.84 points, or 0.2%, to 27,778.07. It remains 6% below its record set in February. The Nasdaq composite had already returned to a record, thanks to huge gains for the big tech stocks that dominate it. It hit a new one Tuesday, climbing 81.12 points, or 0.7%, to 11,210.84.

The lightning recovery is even more noteworthy considering how much the economy is still struggling and how uncertain the path ahead remains. Millions of Americans are continuing to get unemployment benefits, and businesses across the country are still shutting their doors. COVID-19 continues to spread throughout the world, with more than 5.4 million known cases and 170,000 deaths in the United States alone.

Many investors acknowledge the disconnect between the stock market and the broader economy, but they say the rally has been built on top of several supports.

Key among them is that the Federal Reserve and Congress have plowed trillions of dollars into the economy, to keep it from plunging even more deeply and to prevent a full-blown financial crisis. Their unprecedented moves helped halt the S&P 500’s free-fall in March.

More recently, the stock market’s rally has morphed from relief that the worst-case scenario of a full-blown financial crisis is off the table to hopes that the economy is on the mend. As widespread lockdowns of businesses have eased since the spring, data from across the economy have been showing improvements.

A report last week said 963,000 U.S. workers filed for unemployment benefits, for example. It’s a sickeningly high number, but it’s also the first time the tally has dropped below 1 million since March. And on Tuesday the government reported that construction of new U.S. homes surged 22.6% last month, the third straight month of gains. With such budding economic improvements in hand, investors are looking ahead to later this year or 2021 when profits recover further and a vaccine for COVID-19 hits the market.

The five biggest companies in the S&P 500 by market value, meanwhile, have continued to appear recession-proof. These Big Tech companies increasingly drive the S&P 500’s movements almost by themselves, and they’ve benefited from the pandemic because it accelerated work-from-home and other tech trends. Apple has more than doubled since the market's recent bottom on March 23, while Facebook is up 77% and Amazon is up 74%.

The market’s huge gains have been slowing in recent weeks, and many investors say the easiest gains have been made. But optimism remains strong across much of Wall Street. At Goldman Sachs, strategist David Kostin raised his year-end forecast for the S&P 500 to 3,600 from an earlier outlook for 3,000.

At the same time, though, many risks are still hanging over the market.

*ASX 200 to edge lower.*
The benchmark ASX 200 is expected to edge lower on Wednesday morning. According to the latest SPI futures, the benchmark index is poised to open the day 6 points of 0.1% lower. This follows a mixed night of trade on Wall Street which saw the Dow Jones fall 0.25%, but the S&P 500 rise 0.2% and the Nasdaq storm 0.7% higher.










https://www.usnews.com/news/busines...ed-after-tech-rally-takes-s-p-500-near-record

*S&P 500 Closes at a Record, Erasing Last of Pandemic Losses*
Wall Street clawed back the last of the historic, frenzied losses unleashed by the coronavirus, as the S&P 500 closed at an all-time high Tuesday.
By Associated Press, Wire Service Content Aug. 18, 2020, at 5:31 p.m. 

By STAN CHOE, ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Wall Street clawed back the last of the historic, frenzied losses unleashed by the new coronavirus, as the S&P 500 closed at an all-time high Tuesday.

The day’s move was a relatively mild one, nudging the index up 7.79 points, or 0.2%, to 3,389.78. That eclipses the S&P 500′s previous record closing high of 3,386.15, which was set Feb. 19, before the pandemic shut down businesses around the world and knocked economies into their worst recessions in decades.

The S&P 500′s milestone caps a furious, 51.5% rally that began in late March. The index, which is the benchmark for many stock funds at the heart of 401(k) plans, is now up nearly 5% for the year.

The stock market’s sprint back to an all-time high also means that the gut-wrenching, nearly 34% plunge for the S&P 500 from Feb. 19 through March 23 was the quickest bear market on record, clocking in at just one month. By comparison, it's taken the average bear market 19.6 months to bottom out, according to S&P Dow Jones Indices.

Tremendous amounts of aid from the Federal Reserve and Congress helped launch the rally, which built higher on signs of budding growth in the economy. More recently, blowout corporate profit reports from technology giants such as Apple and Microsoft and earnings from harder-hit industries that weren’t as bad as expected have helped boost stock prices.

The S&P 500 spent the past few days within striking distance of a new high, but fell short of the milestone until finally breaking through on Tuesday.

The Dow Jones Industrial Average fell 66.84 points, or 0.2%, to 27,778.07. It remains 6% below its record set in February. The Nasdaq composite had already returned to a record, thanks to huge gains for the big tech stocks that dominate it. It hit a new one Tuesday, climbing 81.12 points, or 0.7%, to 11,210.84.

The lightning recovery is even more noteworthy considering how much the economy is still struggling and how uncertain the path ahead remains. Millions of Americans are continuing to get unemployment benefits, and businesses across the country are still shutting their doors. COVID-19 continues to spread throughout the world, with more than 5.4 million known cases and 170,000 deaths in the United States alone.

Many investors acknowledge the disconnect between the stock market and the broader economy, but they say the rally has been built on top of several supports.

Key among them is that the Federal Reserve and Congress have plowed trillions of dollars into the economy, to keep it from plunging even more deeply and to prevent a full-blown financial crisis. Their unprecedented moves helped halt the S&P 500’s free-fall in March.

More recently, the stock market’s rally has morphed from relief that the worst-case scenario of a full-blown financial crisis is off the table to hopes that the economy is on the mend. As widespread lockdowns of businesses have eased since the spring, data from across the economy have been showing improvements.

A report last week said 963,000 U.S. workers filed for unemployment benefits, for example. It’s a sickeningly high number, but it’s also the first time the tally has dropped below 1 million since March. And on Tuesday the government reported that construction of new U.S. homes surged 22.6% last month, the third straight month of gains. With such budding economic improvements in hand, investors are looking ahead to later this year or 2021 when profits recover further and a vaccine for COVID-19 hits the market.

The five biggest companies in the S&P 500 by market value, meanwhile, have continued to appear recession-proof. These Big Tech companies increasingly drive the S&P 500’s movements almost by themselves, and they’ve benefited from the pandemic because it accelerated work-from-home and other tech trends. Apple has more than doubled since the market's recent bottom on March 23, while Facebook is up 77% and Amazon is up 74%.

The market’s huge gains have been slowing in recent weeks, and many investors say the easiest gains have been made. But optimism remains strong across much of Wall Street. At Goldman Sachs, strategist David Kostin raised his year-end forecast for the S&P 500 to 3,600 from an earlier outlook for 3,000.

At the same time, though, many risks are still hanging over the market.

Investors are still waiting to see if Congress and the White House can get past their partisan differences and agree on more aid for the economy. Without the stimulus, analysts say the economy won’t be able to make the recovery that investors have been assuming is on the way. And that assumption is a huge reason the stock market is as high as it is.

Rising tensions between the United States and China, meanwhile, threaten trade between the world’s two largest economies. Tech stocks have had a few stumbles recently amid worries that China could retaliate against U.S. moves by targeting U.S. chip makers and others.

Perhaps the biggest threat of all is if a vaccine for COVID-19 fails come to the market as quickly as markets are expecting. That could quickly take a chunk out of the market’s huge rally.

For now, though, the market’s momentum remains on a gentle upward slope. Even Treasury yields have recently been making a move higher, though their ascent slowed on Tuesday.

The yield on the 10-year Treasury dipped to 0.67% from 0.69% late Monday. In March, the yield had touched its record low just beneath 0.34%.

Higher yields can be an indication that investors are upgrading their expectations for inflation and the economy. But they can also pull some buyers away from stocks into bonds, hurting stock prices in the process.

“It’s important to recognize that the bond market doesn’t seem to trust this rally,” said Brian Price, head of investment management for Commonwealth Financial Network.


----------



## bigdog

The S&P 500 pulled back from its newly set record on Wednesday after a meandering day of trading took a late turn lower.

The benchmark index fell 14.93 points, or 0.4%, to 3,374.85, a day after it wiped out the last of its losses created by the pandemic and surpassed its Feb. 19 peak.

The Dow Jones Industrial Average also gave up an earlier gain and lost 85.19, or 0.3%, to 27,692.88. The Nasdaq composite dropped 64.38, or 0.6%, to 11,146.46.

Indexes turned lower in the afternoon after the Federal Reserve released the minutes from its latest policy meeting. The central bank has been one of the main pillars propping up the market after it slashed short-term interest rates to their record low and essentially promised to buy as many bonds as it takes to keep markets running smoothly.

The Fed’s minutes showed again that policy makers are finding it difficult to forecast the path of the economy, which will depend greatly on what happens with the virus.

Treasury yields also rose after the minutes showed, among other things, that several Fed officials said trying to set upper limits for yields beyond ultrashort-term rates would provide only a modest help. Some investors have been speculating that could be a step the Fed would take next to help the economy.

The yield on the 10-year Treasury rose to 0.68% from 0.67% late Tuesday. It had been as low as 0.64% earlier in the morning.

Across the stock market, momentum has largely remained solid. But it’s slowed recently after roaring back from a terrifying plummet of nearly 34% in February and March. Trading has been so tepid that it took the S&P 500 several attempts to break its record after pulling within 1% of the mark a week and a half ago.

“The elevator went down very quickly, so to speak,” Nancy Davis, chief investment officer of Quadratic Capital, said of the market’s plunge earlier this year. “And now we’ve been climbing the stairs back up, and we’re higher than we were before.”

This is a traditionally slow time of the year for stocks, and the market is also still in wait-and-see mode on several fronts.

Investors still seem to believe that Congress and the White House will reach a deal to deliver more aid to the economy after federal unemployment benefits and other stimulus expired. Democrats and Republicans have been stuck at an impasse and sniping back and forth, but investors are seeing speculation about a possible scaled-down version of aid passing Congress, said Willie Delwiche, investment strategist at Baird.

Beyond Capitol Hill, investors are also waiting for more developments on the rising tensions between the United States and China. The world’s largest economies have longstanding trade issues, and President Donald Trump has recently been targeting Chinese tech companies in particular.

*ASX 200 expected to edge lower.*
The benchmark ASX 200 looks set to end its winning streak on Thursday. According to the latest SPI futures, the benchmark index is poised to open the day 14 points or 0.23% lower. This follows a disappointing night of trade on Wall Street which saw the Dow Jones fall 0.3%, the S&P 500 drop 0.45%, and the Nasdaq tumble 0.6% lower.










https://www.usnews.com/news/busines...ance-in-asia-after-s-p-500-logs-all-time-high

*S&P 500 Takes a Step Back After Setting Record; Yields Rise*
The S&P 500 pulled back from its newly set record on Wednesday after a meandering day of trading took a late turn lower.
By Associated Press, Wire Service Content Aug. 19, 2020, at 4:49 p.m. 

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — The S&P 500 pulled back from its newly set record on Wednesday after a meandering day of trading took a late turn lower.

The benchmark index fell 14.93 points, or 0.4%, to 3,374.85, a day after it wiped out the last of its losses created by the pandemic and surpassed its Feb. 19 peak.

The Dow Jones Industrial Average also gave up an earlier gain and lost 85.19, or 0.3%, to 27,692.88. The Nasdaq composite dropped 64.38, or 0.6%, to 11,146.46.

Indexes turned lower in the afternoon after the Federal Reserve released the minutes from its latest policy meeting. The central bank has been one of the main pillars propping up the market after it slashed short-term interest rates to their record low and essentially promised to buy as many bonds as it takes to keep markets running smoothly.

The Fed’s minutes showed again that policy makers are finding it difficult to forecast the path of the economy, which will depend greatly on what happens with the virus.

Treasury yields also rose after the minutes showed, among other things, that several Fed officials said trying to set upper limits for yields beyond ultrashort-term rates would provide only a modest help. Some investors have been speculating that could be a step the Fed would take next to help the economy.

The yield on the 10-year Treasury rose to 0.68% from 0.67% late Tuesday. It had been as low as 0.64% earlier in the morning.

Across the stock market, momentum has largely remained solid. But it’s slowed recently after roaring back from a terrifying plummet of nearly 34% in February and March. Trading has been so tepid that it took the S&P 500 several attempts to break its record after pulling within 1% of the mark a week and a half ago.

“The elevator went down very quickly, so to speak,” Nancy Davis, chief investment officer of Quadratic Capital, said of the market’s plunge earlier this year. “And now we’ve been climbing the stairs back up, and we’re higher than we were before.”

This is a traditionally slow time of the year for stocks, and the market is also still in wait-and-see mode on several fronts.

Investors still seem to believe that Congress and the White House will reach a deal to deliver more aid to the economy after federal unemployment benefits and other stimulus expired. Democrats and Republicans have been stuck at an impasse and sniping back and forth, but investors are seeing speculation about a possible scaled-down version of aid passing Congress, said Willie Delwiche, investment strategist at Baird.

Beyond Capitol Hill, investors are also waiting for more developments on the rising tensions between the United States and China. The world’s largest economies have longstanding trade issues, and President Donald Trump has recently been targeting Chinese tech companies in particular.

Also hanging over the market is the upcoming U.S. election, with the big changes in tax and other policies that it can create. Democrats formally nominated Joe Biden late Tuesday to run against Trump for the White House in November's election.

Earnings reporting season for big U.S companies has nearly wrapped up, with businesses in the S&P 500 on track to report a sharp decline in their profits for the spring, but not as bad as Wall Street expected. More than 93% of the earnings reports are in, and the index is on pace for a roughly 33% drop from the prior year.

Target jumped 12.7% for the biggest gain in the S&P 500 after it reported results for the spring that easily beat Wall Street’s expectations.

But TJX, the operator of T.J. Maxx and Marshalls, slumped 5.4% after its results fell short of analysts’ forecasts.

Apple continued its run of dominance and rose 0.1%. Earlier in the day, its total market value briefly topped $2 trillion, the first time a U.S. company has crossed that threshold. It's the latest accolade for Big Tech, which has thrived as the pandemic accelerates work-from-home and other tech-friendly trends.

“While we talk about the S&P 500 at an all-time high, really it’s a handful of stocks at all-time highs," said Delwiche. "Maybe beyond the headlines of what the index is doing, stocks are actually endorsing the bond market view that there’s still a lot of work to be done with respect to a Main Street recovery, and that message gets overwhelmed in a cap-weighted index like the S&P 500, where you have five to seven stocks rallying and that makes the index look really good.”

In European stock markets, the German DAX returned 0.7%. The French CAC 40 rose 0.8%, and the FTSE 100 in London added 0.6%.

In Asia, Japan’s Nikkei 225 rose 0.3%, and South Korea’s Kospi gained 0.5%. Stocks in Shanghai slumped 1.2%, and the Hang Seng in Hong Kong lost 0.7%.

Benchmark U.S. crude oil rose 4 cents to settle at $42.93 per barrel. Brent crude, the international standard, fell 9 cents to $45.37 a barrel.


----------



## bigdog

Big technology companies powered more gains on Wall Street Thursday, even as most stocks fell following more discouraging data on the economy.

The S&P 500 rose 0.3% after rallying back from an earlier 0.6% loss as investors weighed new government data showing an increase in the number of Americans who sought unemployment aid last week. A separate report from the Federal Reserve Bank of Philadelphia said that manufacturing activity in its region is slowing. Like the jobless claims report, that reading was also weaker than economists had forecast.

The discouraging reports helped send two out of every three stocks in the S&P 500 lower. Energy producers and financial companies had some of the sharpest drops. Treasury yields also fell, reflecting caution in the market.

But tech stocks in the S&P 500 nevertheless rose 1.4%, continuing a remarkable run of resilience that has carried through the pandemic. The industry has been delivering big profits as the pandemic accelerates work-from-home and other tech-friendly trends. And because they’re among the biggest stocks by total market value, their movements carry more weight on the index.

The S&P 500 rose 10.66 points to 3,385.51. The gains kept the benchmark index close to its record level. The Dow Jones Industrial Average gained 46.85 points, or 0.2%, to 27,739.73.

The strength in tech stocks, meanwhile, helped lift the Nasdaq composite up 118.49 points, or 1.1%, to 11,264.95, a record high. Smaller companies didn't fare as well. The Russell 2000 index lost 7.76 points, or 0.5%, to 1,564.30.

The initial downward move for stocks Tuesday followed a government report indicating that slightly more than 1.1 million U.S. workers applied for unemployment benefits last week. That’s up from 971,000 the prior week and an indication that the pace of improvements for layoffs may be stalling.

The number of jobless claims had been on a steady march downward since March, and the prior week marked the first time the total had eased below 1 million since just before the pandemic shuttered businesses across the country.

“The market’s looking through” the worse-than-expected report on jobless claims, said Scott Wren, senior global market strategist at Wells Fargo Investment Institute. “The trend is for continued improvement in the labor market.”

Still, with so much uncertainty still hanging over markets, he said he wouldn’t be surprised to see it take a “time out” after the S&P 500 returned to a record high on Tuesday.

“From here I think you need new good news,” Wren said.

Thursday’s back-and-forth moves for the broader market follow up on its sudden loss of momentum Wednesday. Stock indexes began dipping immediately after the Federal Reserve released the minutes from its last meeting.

The Fed has been a central reason for the stock market’s rocket ride back to record heights, due to its promises to keep short-term interest rates at their record low of nearly zero and to continue buying reams of bonds to support markets. The Fed’s minutes showed that policymakers still find it very difficult to predict the path of the economy, which depends so much on what happens with the virus.

They also showed that several Fed officials aren’t very excited about the idea of putting caps on yields beyond ultrashort-term rates, a move that some investors had been speculating could be next for the central bank to help markets.

*ASX 200 expected to push higher.*
It looks set to be a positive end to the week for the benchmark ASX 200. According to the latest SPI futures, the benchmark index is poised to open the day 12 points or 0.20% higher this morning. This follows a strong night of trade on Wall Street which saw the Dow Jones rise 0.3%, the S&P 500 climb 0.3%, and the Nasdaq storm 1.1% higher.










https://www.usnews.com/news/busines...retreat-after-fed-minutes-bring-reality-check

*Tech Gains Send Indexes Higher Even as Other Stocks Fall*
*Major indexes managed to eke out gains on Wall Street even as most stocks fell following more discouraging data on the economy.*
By Associated Press, Wire Service Content Aug. 20, 2020, at 4:47 p.m. 

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Big technology companies powered more gains on Wall Street Thursday, even as most stocks fell following more discouraging data on the economy.

The S&P 500 rose 0.3% after rallying back from an earlier 0.6% loss as investors weighed new government data showing an increase in the number of Americans who sought unemployment aid last week. A separate report from the Federal Reserve Bank of Philadelphia said that manufacturing activity in its region is slowing. Like the jobless claims report, that reading was also weaker than economists had forecast.

The discouraging reports helped send two out of every three stocks in the S&P 500 lower. Energy producers and financial companies had some of the sharpest drops. Treasury yields also fell, reflecting caution in the market.

But tech stocks in the S&P 500 nevertheless rose 1.4%, continuing a remarkable run of resilience that has carried through the pandemic. The industry has been delivering big profits as the pandemic accelerates work-from-home and other tech-friendly trends. And because they’re among the biggest stocks by total market value, their movements carry more weight on the index.

The S&P 500 rose 10.66 points to 3,385.51. The gains kept the benchmark index close to its record level. The Dow Jones Industrial Average gained 46.85 points, or 0.2%, to 27,739.73.

The strength in tech stocks, meanwhile, helped lift the Nasdaq composite up 118.49 points, or 1.1%, to 11,264.95, a record high. Smaller companies didn't fare as well. The Russell 2000 index lost 7.76 points, or 0.5%, to 1,564.30.

The initial downward move for stocks Tuesday followed a government report indicating that slightly more than 1.1 million U.S. workers applied for unemployment benefits last week. That’s up from 971,000 the prior week and an indication that the pace of improvements for layoffs may be stalling.

The number of jobless claims had been on a steady march downward since March, and the prior week marked the first time the total had eased below 1 million since just before the pandemic shuttered businesses across the country.

“The market’s looking through” the worse-than-expected report on jobless claims, said Scott Wren, senior global market strategist at Wells Fargo Investment Institute. “The trend is for continued improvement in the labor market.”

Still, with so much uncertainty still hanging over markets, he said he wouldn’t be surprised to see it take a “time out” after the S&P 500 returned to a record high on Tuesday.

“From here I think you need new good news,” Wren said.

Thursday’s back-and-forth moves for the broader market follow up on its sudden loss of momentum Wednesday. Stock indexes began dipping immediately after the Federal Reserve released the minutes from its last meeting.

The Fed has been a central reason for the stock market’s rocket ride back to record heights, due to its promises to keep short-term interest rates at their record low of nearly zero and to continue buying reams of bonds to support markets. The Fed’s minutes showed that policymakers still find it very difficult to predict the path of the economy, which depends so much on what happens with the virus.

They also showed that several Fed officials aren’t very excited about the idea of putting caps on yields beyond ultrashort-term rates, a move that some investors had been speculating could be next for the central bank to help markets.

Apple was among the stocks the led the tech sector's gains Tuesday. The iPhone maker rose 2.2% and is once again flirting with a total market value of $2 trillion. It's the first U.S. stock to cross that threshold.

Intel rose 1.7% after it said it will speed up $10 billion in buybacks of its own stock because it sees the price as cheap relative to its value.

Uber and Lyft bounced higher after an appeals court said the ride-hailing giants can continue treating their drivers as independent contractors in California while an appeal works its way through the court. Both companies had threatened to shut down if a ruling went into effect Friday morning that would have forced them to treat all their drivers as employees, a change they said would be impossible to accomplish overnight. Uber jumped 6.8% and Lyft gained 5.8%.

The yield on the 10-year Treasury fell to 0.65% from 0.67% late Wednesday.

Stock markets in Europe closed broadly lower. The German DAX lost 1.1%. The French CAC 40 fell 1.3%, and the FTSE 100 in London dropped 1.6%. That followed a weak showing in Asian markets.

Benchmark U.S. crude oil for September delivery fell 35 cents to $42.58 a barrel Thursday. Brent crude oil for October delivery fell 47 cents to $44.90 a barrel.


----------



## bigdog

The S&P 500 ticked higher to close at another all-time high Friday, powered by strength for technology stocks and a couple reports on the U.S. economy that were better than expected.

The benchmark index rose 11.65 points, or 0.3%, to 3,397.16, even though the majority of stocks in the index weakened. It followed up on losses across Europe after more discouraging reports there indicated a slowdown in its economies.

The Dow Jones Industrial Average climbed 190.60, or 0.7%, to 27,930.33, and the Nasdaq composite added 46.85, or 0.4%, to 11,311.80.

The S&P 500 surpassed its prior closing high of 3,389.78, which was set on Tuesday after the index erased the last of its historic losses from the coronavirus pandemic. Despite its record-setting week, the market's momentum has slowed recently after roaring back from its nearly 34% plunge from late February into March.

The S&P 500 rose 0.7% for the week. It was the seventh gain for the index in the last eight weeks, but the last two have been the most modest during that stretch.

Investors are still waiting for more clarity on several fronts, which could drive the next big move up or down.

The economy has shown some signs of stalling recently, with Friday’s reports from Europe the latest reminder that a steady rise in coronavirus cases may be undermining growth. They follow a U.S. report from Thursday that showed that the number of workers applying for unemployment benefits picked up last week.

But the picture remains mixed. A separate report from IHS Markit on Friday said preliminary data suggests output from the U.S. private sector is at an 18-month high. Sales of previously occupied homes were also stronger in July than economists expected, as activity exploded in every region of the country.

Those reports helped the U.S. stock market recover from declines earlier in the morning.










https://www.usnews.com/news/busines...es-track-wall-street-gains-amid-vaccine-hopes

*S&P 500 Ticks Higher to Record, Powered Again by Tech Stocks*
The S&P 500 ticked higher to close at another all-time high Friday, powered by strength for technology stocks and better-than-expected reports on the U.S. economy.
By Associated Press, Wire Service Content Aug. 21, 2020, at 4:44 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — The S&P 500 ticked higher to close at another all-time high Friday, powered by strength for technology stocks and a couple reports on the U.S. economy that were better than expected.

The benchmark index rose 11.65 points, or 0.3%, to 3,397.16, even though the majority of stocks in the index weakened. It followed up on losses across Europe after more discouraging reports there indicated a slowdown in its economies.

The Dow Jones Industrial Average climbed 190.60, or 0.7%, to 27,930.33, and the Nasdaq composite added 46.85, or 0.4%, to 11,311.80.

The S&P 500 surpassed its prior closing high of 3,389.78, which was set on Tuesday after the index erased the last of its historic losses from the coronavirus pandemic. Despite its record-setting week, the market's momentum has slowed recently after roaring back from its nearly 34% plunge from late February into March.

The S&P 500 rose 0.7% for the week. It was the seventh gain for the index in the last eight weeks, but the last two have been the most modest during that stretch.

Investors are still waiting for more clarity on several fronts, which could drive the next big move up or down.

The economy has shown some signs of stalling recently, with Friday’s reports from Europe the latest reminder that a steady rise in coronavirus cases may be undermining growth. They follow a U.S. report from Thursday that showed that the number of workers applying for unemployment benefits picked up last week.

But the picture remains mixed. A separate report from IHS Markit on Friday said preliminary data suggests output from the U.S. private sector is at an 18-month high. Sales of previously occupied homes were also stronger in July than economists expected, as activity exploded in every region of the country.

Those reports helped the U.S. stock market recover from declines earlier in the morning.

“The housing market is strong,” said Quincy Krosby, chief market strategist at Prudential Financial. "This week has been about housing. Each one of these reports has been strong.”

Stocks of homebuilders climbed following the data, including a 3.2% rise for D.R. Horton. But it was additional gains for tech stocks that did the most work in the S&P 500's rally.

Most stocks on Wall Street fell, and the smaller companies in the Russell 2000 small-cap index lost 11.83, or 0.8%, to 1,552.48. Even within the S&P 500 index of big companies, 56% of stocks were lower, with energy producers and financial stocks dropping. But a 1.2% rise for tech stocks in the S&P 500 helped offset that.

Tech has remained remarkably resilient through the pandemic and continued to churn out big profits as work-from-home and other tech-friendly trends accelerate. Apple, which this week became the first U.S. company to have a market value of more than $2 trillion, rose 5.2%.

Big tech stocks, which generally have strong balance sheets and deliver strong growth, will likely continue to be attractive to investors as long as there are questions about economic growth, said Krosby.

“One of the most important factors in this market and for the broadening of the market in order to include those names that have not participated is: You want to see the unemployment landscape heal, and you want to see those initial unemployment claims come down,” she said. "That’s a major focus for analysts because we’re a consumer-led economy. People need jobs in order to consume.”

Deere was another big winner after it reported profit for the latest quarter that was double what Wall Street expected. Its shares rose 4.4%.

The Federal Reserve is continuing to prop up markets and the economy by keeping interest rates at nearly zero and buying reams of bonds. But stimulus from Congress has lapsed, and Democrats and Republicans on Capitol Hill continue to haggle.

Investors say the economy and markets need another round of big support from Congress for the recovery to continue.

“Ultimately, it will take some combination of bad data, bad markets and good politics to break the impasse,” economist Ethan Harris wrote in a BofA Global Research report. “Meanwhile, every passing week without meaningful legislation lengthens the mini-recession. This is not the kind of August break this economy needs.”

Beyond Capitol Hill, investors are also waiting for the latest developments in the rising tensions between the world's two largest economies.

China’s Commerce Ministry on Thursday said that Chinese and U.S. trade envoys will hold a meeting by phone “in the near future” to discuss an agreement aimed at resolving their tariff war. No details on timing were given.

The yield on the 10-year Treasury dipped to 0.63% from 0.64% late Thursday.

In European stock markets, Germany's DAX slipped 0.5%. France’s CAC 40 fell 0.3%, while the FTSE 100 in London lost 0.2%.

Earlier, Asian markets closed higher. Japan's Nikkei 225 gained 0.2%, South Korea’s Kospi rose 1.3% and Hong Kong’s Hang Seng added 1.3%.

Benchmark U.S. crude oil fell 48 cents to settle at $42.34 per barrel. Brent crude, the international standard, lost 55 cents to $44.35 per barrel.

2831


----------



## bigdog

*ASX futures pointing lower.*
The ASX 200 looks set to start the week in the red. According to the latest SPI futures, the benchmark index is poised to open the week 11 points or 0.2% lower. This is despite a solid finish to the week on Wall Street with all three major indices recording gains. The Dow Jones rose 0.7%, the S&P 500 climbed 0.35%, and the Nasdaq index pushed 0.4% higher.


----------



## bigdog

Stocks plowed higher on Wall Street Monday, as hopes for a COVID-19 treatment and vaccine had investors looking ahead to the possibility of a healthier economy that has shed the virus.

The S&P 500 rallied 34.12, or 1%, to 3,431.28 and added to the all-time high it set last week, when it erased the last of its losses from the coronavirus pandemic. It followed up on solid gains for stock markets across much of Europe and Asia.

The Dow Jones Industrial Average rose 378.13, or 1.4%, to 28,308.46, and the Nasdaq composite added 67.92, or 0.6%, to 11,379.72.

Hope was rising as pharmaceutical companies continue to work toward a possible vaccine for COVID-19 and after the U.S. government on Sunday approved an emergency authorization to allow the use of convalescent plasma to treat patients. The plasma comes from patients who have recovered from the coronavirus, and it may help people battling the disease, though global health officials say the therapy is still experimental.

Such hopes helped invigorate shares of industries that have been badly beaten down by what's become the new normal of pandemic life. Airlines climbed, for example, amid the possibility that people may feel safe enough to travel again in the future. Delta Air Lines rose 9.3%, and American Airlines Group added 10.5%.

One winner of the new normal, Zoom Video Communications, stumbled. Its shares fell 2.6% after it reported partial outages in its Zoom Meetings service, which has become the default way for classrooms and businesses around the world to communicate. By midday on the East Coast, it said it had resolved the issue.

The market’s gains were relatively broad, and more than 80% of the stocks in the S&P 500 were higher. Financial companies, energy producers and other areas of the market closely tied to the economy's strength helped lead the way.

The moves come as investors hope the virus' spread continues to slow and the economy continues to improve, said Keith Buchanan, portfolio manager at Globalt Investments.

“We’re just making sure that the trends we’ve seen as of late from the virus continue to materialize,” he said. “We want to start to see marginal, steady improvement.”

*ASX 200 expected to rise again.*
It looks set to be another positive day for the ASX 200 after Wall Street started the week very strongly. According to the latest SPI futures, the benchmark index is poised to open the day 41 points or 0.7% higher this morning. In the United States, the Dow Jones jumped 1.35%, the S&P 500 climbed 1%, and the Nasdaq index pushed 0.6% higher. News that the Trump administration is considering fast tracking an experimental coronavirus vaccine developed in the UK lifted markets.










https://www.usnews.com/news/busines...asian-stock-markets-follow-wall-street-higher

*US Stocks Join Global Rally Amid COVID Treatment Hopes*
Stocks plowed further into record territory on Wall Street.
By Associated Press, Wire Service Content Aug. 24, 2020, at 6:21 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — Stocks plowed higher on Wall Street Monday, as hopes for a COVID-19 treatment and vaccine had investors looking ahead to the possibility of a healthier economy that has shed the virus.

The S&P 500 rallied 34.12, or 1%, to 3,431.28 and added to the all-time high it set last week, when it erased the last of its losses from the coronavirus pandemic. It followed up on solid gains for stock markets across much of Europe and Asia.

The Dow Jones Industrial Average rose 378.13, or 1.4%, to 28,308.46, and the Nasdaq composite added 67.92, or 0.6%, to 11,379.72.

Hope was rising as pharmaceutical companies continue to work toward a possible vaccine for COVID-19 and after the U.S. government on Sunday approved an emergency authorization to allow the use of convalescent plasma to treat patients. The plasma comes from patients who have recovered from the coronavirus, and it may help people battling the disease, though global health officials say the therapy is still experimental.

Such hopes helped invigorate shares of industries that have been badly beaten down by what's become the new normal of pandemic life. Airlines climbed, for example, amid the possibility that people may feel safe enough to travel again in the future. Delta Air Lines rose 9.3%, and American Airlines Group added 10.5%.

One winner of the new normal, Zoom Video Communications, stumbled. Its shares fell 2.6% after it reported partial outages in its Zoom Meetings service, which has become the default way for classrooms and businesses around the world to communicate. By midday on the East Coast, it said it had resolved the issue.

The market’s gains were relatively broad, and more than 80% of the stocks in the S&P 500 were higher. Financial companies, energy producers and other areas of the market closely tied to the economy's strength helped lead the way.

The moves come as investors hope the virus' spread continues to slow and the economy continues to improve, said Keith Buchanan, portfolio manager at Globalt Investments.

“We’re just making sure that the trends we’ve seen as of late from the virus continue to materialize,” he said. “We want to start to see marginal, steady improvement.”

Whether the stock market's gains continue to broaden out is an important marker for analysts, because much of its gains in its return to a record have come from only a handful of Big Tech companies. Apple, Amazon and other tech giants have benefited from the pandemic because it’s accelerated work-from-home, shop-from-home and other trends that are very profitable for them. But all that concentration of gains in a small cadre of companies can increase risk for the market.

Last week, the S&P 500 would have been down if not for the performance of a single stock: Apple, whose 8.2% spurt also made it the first U.S. stock to be worth a total of $2 trillion. And the dominance for Big Tech in the stock market has been stretching back for years.

“This is not new news nor is it likely, in our view, to derail the new bull market,” Morgan Stanley equity strategist Michael Wilson wrote in a report. “However, we do think it’s a precursor to the first tradable correction, which could begin imminently.”

Several other risks also continue to hang over the market.

Congress is continuing to argue about whether and how to deliver another round of aid to the economy. Investors say the assistance is crucial following the expiration of weekly unemployment benefits and other stimulus from Washington’s last round of aid.

Critics also say the market may have run too high, too quickly, even after acknowledging that investors are setting prices for stocks now based on where they see earnings trending in the future. The S&P 500 is trading close to levels last seen when the dot-com bubble was deflating in the early 2000s, based on stock prices relative to expected earnings in the next 12 months.

Of course, underlying all that remains the Federal Reserve. It has slashed short-term interest rates to nearly zero and is likely to keep them there for a while. At the same time, it continues to buy reams of bonds to support markets and the economy.

Investors are waiting to hear from Fed Chair Jerome Powell later this week at a speech that he would normally give at Jackson Hole, Wyoming. But the 2020 economic policy symposium will be online.

Investors closely follow speeches given at the annual Jackson Hole event, where Fed officials in the past have made huge market-moving headlines. This year’s event is titled “Navigating the Decade Ahead: Implications for Monetary Policy.”

Meanwhile, some big names in the Dow Jones Industrial Average are slated to be dropped from the 30-company index. Exxon Mobil, Pfizer and Raytheon Technologies will be replaced before trading opens next Monday by Salesforce.com, Amgen and Honeywell International, S&P Dow Jones Indices said late Monday.

Exxon has been the longest-running member of the Dow. It was first added to the index in 1928 when the oil giant was still named Standard Oil of New Jersey. The company changed its name to Exxon in 1972.

The yield on the 10-year Treasury rose to 0.65% from 0.64% late Friday.

In European stock markets, the German DAX returned 2.4%. France’s CAC 40 rose 2.3%, and the FTSE 100 in London added 1.7%.

In Asia, Japan’s Nikkei 225 rose 0.3%, and the Kospi in Seoul gained 1.1%. Hong Kong’s Hang Seng climbed 1.7%, and stocks in Shanghai added 0.1%.

Benchmark U.S. crude oil rose 28 cents to settle at $42.62 per barrel. Brent crude, the international standard, rose 78 cents to $45.13 a barrel.


----------



## bigdog

Stocks were mixed on Wall Street Tuesday, but gains were strong enough for tech companies and other pockets of the market to carry the S&P 500 to its fourth straight gain and another record high.

The benchmark index rose 12.34, or 0.4%, to 3,443.62, even though slightly more stocks within it sank than rose. The Dow Jones Industrial Average fell 60.02, or 0.2%, to 28,248.44, and the Nasdaq composite rose 86.75, or 0.8%, to 11,466.47.

The modest moves followed some more mixed data reports on the economy. One showed that consumer confidence unexpectedly dropped this month, contrary to economists’ forecast for a strengthening. Another said sales of new homes accelerated faster than economists expected last month. They fit in with a general slowing of the economy recently, following its plummet into recession earlier this year and subsequent, initial burst off the bottom.

Earlier in the morning, most stocks on Wall Street had been edging higher after the United States and China said they held constructive talks as they negotiate how to implement their “Phase 1” deal, which set a truce in their trade war.

“We had three days of record highs” for the S&P 500 earlier in the past week, said Adam Taback, chief investment officer for Wells Fargo Private Wealth Management. “It’s not surprising to see some resistance here.”

The market has been making a lot of small moves recently on snippets of news about the virus, developments on a potential vaccine for it and other concerns. But the economy is still hurting, with airlines running at a fraction of their capacities and restaurants still mostly empty.

“That’s not an economy that’s back to normal,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management. “Ultimately, the economy doesn’t fully reopen until we get a vaccine or a therapeutic,” he said.

For the moment, though, he said, “People are willing to see that the world’s cup is slightly half-full right now."

Adding to the cup was an announcement from the U.S. Trade Representative that “both sides see progress" following trade talks between the world's two largest economies. China’s Ministry of Commerce said the two sides discussed strengthening coordination of their economic policies, though it gave no details.

Tensions between the United States and China have been ramping up recently, with President Donald Trump targeting Chinese technology companies in particular. The worsening relationship has been one of the bigger concerns for investors, particularly given how destructive the escalating tariffs of the U.S.-China trade war were for the global economy earlier.

Other concerns for the market include whether Congress can get past its partisan disagreements to agree on sending more aid to the economy, which investors say is desperately needed, and whether stock prices have become too expensive relative to how much profit companies are producing.

But none of those concerns has been loud enough to keep the S&P 500 from plowing to new record heights by the day.

Underlying it all is massive support for markets and the economy from the Federal Reserve. The central bank has slashed short-term rates to nearly zero and is buying all kinds of bonds, which helps drive some investors into the stock market and push up its prices.

The Fed’s chair, Jerome Powell, will give a highly anticipated speech later this week, where investors expect to hear him talk about next steps for monetary policy.

*ASX 200 poised to sink lower.*
The ASX 200 looks set to end its winning streak on Wednesday. According to the latest SPI futures, the benchmark index is poised to drop 31 points or 0.5% lower at the open. This is despite it being a reasonably positive night of trade on Wall Street. The Dow Jones fell 0.2% but the S&P 500 rose 0.35% and the Nasdaq jumped 0.75%.










https://www.usnews.com/news/busines...cks-rise-spurred-by-hopes-for-covid-treatment

*S&P 500 Shakes off a Bumpy Start, Pushes to Another Record*
Stocks shook off a slow start on Wall Street and pushed gradually higher in the afternoon, leaving the S&P 500 at another record high.
By Associated Press, Wire Service Content Aug. 25, 2020, at 4:33 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Stocks were mixed on Wall Street Tuesday, but gains were strong enough for tech companies and other pockets of the market to carry the S&P 500 to its fourth straight gain and another record high.

The benchmark index rose 12.34, or 0.4%, to 3,443.62, even though slightly more stocks within it sank than rose. The Dow Jones Industrial Average fell 60.02, or 0.2%, to 28,248.44, and the Nasdaq composite rose 86.75, or 0.8%, to 11,466.47.

The modest moves followed some more mixed data reports on the economy. One showed that consumer confidence unexpectedly dropped this month, contrary to economists’ forecast for a strengthening. Another said sales of new homes accelerated faster than economists expected last month. They fit in with a general slowing of the economy recently, following its plummet into recession earlier this year and subsequent, initial burst off the bottom.

Earlier in the morning, most stocks on Wall Street had been edging higher after the United States and China said they held constructive talks as they negotiate how to implement their “Phase 1” deal, which set a truce in their trade war.

“We had three days of record highs” for the S&P 500 earlier in the past week, said Adam Taback, chief investment officer for Wells Fargo Private Wealth Management. “It’s not surprising to see some resistance here.”

The market has been making a lot of small moves recently on snippets of news about the virus, developments on a potential vaccine for it and other concerns. But the economy is still hurting, with airlines running at a fraction of their capacities and restaurants still mostly empty.

“That’s not an economy that’s back to normal,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management. “Ultimately, the economy doesn’t fully reopen until we get a vaccine or a therapeutic,” he said.

For the moment, though, he said, “People are willing to see that the world’s cup is slightly half-full right now."

Adding to the cup was an announcement from the U.S. Trade Representative that “both sides see progress" following trade talks between the world's two largest economies. China’s Ministry of Commerce said the two sides discussed strengthening coordination of their economic policies, though it gave no details.

Tensions between the United States and China have been ramping up recently, with President Donald Trump targeting Chinese technology companies in particular. The worsening relationship has been one of the bigger concerns for investors, particularly given how destructive the escalating tariffs of the U.S.-China trade war were for the global economy earlier.

Other concerns for the market include whether Congress can get past its partisan disagreements to agree on sending more aid to the economy, which investors say is desperately needed, and whether stock prices have become too expensive relative to how much profit companies are producing.

But none of those concerns has been loud enough to keep the S&P 500 from plowing to new record heights by the day.

Underlying it all is massive support for markets and the economy from the Federal Reserve. The central bank has slashed short-term rates to nearly zero and is buying all kinds of bonds, which helps drive some investors into the stock market and push up its prices.

The Fed’s chair, Jerome Powell, will give a highly anticipated speech later this week, where investors expect to hear him talk about next steps for monetary policy.

He'll likely touch on many topics, including inflation and the need for more help from Congress. "But most of all, it will be a reality check that we have a very fragile economy and they still have a number of concerns out there,” said Taback of Wells Fargo Private Wealth Management.

The yield on the 10-year Treasury rose to 0.68% from 0.64% late Monday.

Shares of Exxon Mobil, Pfizer and Raytheon Technologies all slipped in their first trading after an announcement that they’ll drop out of the Dow Jones Industrial Average before trading opens Monday. Exxon Mobil dropped 3.2%, Pfizer fell 1.1% and Raytheon lost 1.5%.

Salesforce.com, Amgen and Honeywell International will replace the trio. All three rose at least 3%.

S&P Dow Jones Indices said it’s making the moves because Apple is about to split its stock, which will result in a lower share price. Because the Dow’s movements are based on how much a company’s share price is — not how much the company is worth in total, like other indexes — the stock split would have reduced the technology industry’s weight in the Dow.

In European stock markets, the French CAC 40 and German DAX were both close to flat. The FTSE 100 in London fell 1.1%.

Asian markets were mixed. Japan’s Nikkei 225 rose 1.4%, and South Korea’s Kospi jumped 1.6%. The Hang Seng in Hong Kong lost 0.3%, while stocks in Shanghai slipped 0.4%

Benchmark U.S. crude oil rose 73 cents to settle at $43.35 per barrel as Hurricane Laura barrels toward the U.S. Gulf coast, home to much of the country's energy production. Brent crude, the international standard, gained 73 cents to $45.86 a barrel.

Wholesale gasoline for September delivery rose 3 cents, or 2.1%, to $1.40 a gallon amid worries that the hurricane could damage refineries and cut off supplies.


----------



## bigdog

More blowout profit reports from big tech companies pushed the S&P 500 to an all-time high Wednesday.

The benchmark index rose 1%, even though most of the stocks within it closed lower. Technology stocks accounted for the lion's share of the gains, outweighing losses in health care, utilities, energy and other sectors.

The S&P 500 has been notching record highs this month, adding to its remarkable turnaround this year from a nearly 34% skid this spring as the pandemic ravaged the economy. While the market's movements have remained almost relentlessly upward in recent weeks, powered largely by big technology stocks, its momentum has slowed. Recent data reports have shown a mixed picture on the economy, where activity has largely slowed following its initial rebound from its plummet into recession.

Still, the latest economic data provided more reason for investor optimism. The Commerce Department said Wednesday that orders for transportation equipment, computers and other long-lasting goods jumped more in July from June than economists expected. One closely watched number in the report, which gives an indication of business investment plans, rose 1.9% in July.

“The economy continues to show signs of recovery,” said Patrick Schaffer, global investment specialist at J.P. Morgan Private Bank. “Virus containment strategies seem more targeted and less blunt than they were in the initial phases.” of the pandemic.

The S&P 500 gained 35.11 points to 3,478.73. The Dow Jones Industrial Average rose 83.48 points, or 0.3%, to 28,331.92. The Nasdaq composite, which is heavily weighted with technology stocks, climbed 198.59 points, or 1.7%, to 11,665.06, its third-straight record high. Smaller companies struggled. The Russell 2000 index of small-cap stocks fell 11.02 points, or 0.7%, to 1,560.19.

On Thursday, the market will pay close attention as the Federal Reserve’s chair gives a highly anticipated speech on monetary policy. Jerome Powell will be speaking as part of the Fed’s annual economic symposium, which is usually held in Jackson Hole, Wyoming, where past Fed officials have made big market-moving announcements.

Many investors expect Powell to talk about inflation, as well as the importance of Congress delivering more aid for the economy after much of its last round of stimulus expired. Many investors are still assuming Congress will eventually reach a deal on such aid, but partisan disagreements have prevented one so far.

The Fed has been one of the primary reasons for the stock market’s return to a record, after it pledged to keep short-term interest rates at their record low and to continue to buy bonds to support the economy.

Tech stocks in the S&P 500 accounted for more than 57% of the S&P 500's overall gain. It continues a longstanding run on Wall Street, where investors continue to pile into companies that can deliver strong growth even if the economy is weak or quarantined

*ASX 200 expected to rebound.*
It looks set to be a much better day of trade for the ASX 200 on Thursday after stocks on Wall Street surged higher overnight. According to the latest SPI futures, the benchmark index is expected to rise 16 points or 0.25% higher at the open. In the United States the Dow Jones rose 0.3%, the S&P 500 jumped 1%, and the Nasdaq stormed a massive 1.7% higher. The latter could mean local tech shares have a strong day.  










https://www.usnews.com/news/busines...es-lower-as-investors-await-fed-chairs-speech

*More Blowout Profits From Tech Companies Push S&P 500 Higher*
More blowout profit reports from big tech companies pushed the S&P 500 to another record high on Wednesday.
By Associated Press, Wire Service Content Aug. 26, 2020, at 5:10 p.m. 

By STAN CHOE, ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

More blowout profit reports from big tech companies pushed the S&P 500 to an all-time high Wednesday.

The benchmark index rose 1%, even though most of the stocks within it closed lower. Technology stocks accounted for the lion's share of the gains, outweighing losses in health care, utilities, energy and other sectors.

The S&P 500 has been notching record highs this month, adding to its remarkable turnaround this year from a nearly 34% skid this spring as the pandemic ravaged the economy. While the market's movements have remained almost relentlessly upward in recent weeks, powered largely by big technology stocks, its momentum has slowed. Recent data reports have shown a mixed picture on the economy, where activity has largely slowed following its initial rebound from its plummet into recession.

Still, the latest economic data provided more reason for investor optimism. The Commerce Department said Wednesday that orders for transportation equipment, computers and other long-lasting goods jumped more in July from June than economists expected. One closely watched number in the report, which gives an indication of business investment plans, rose 1.9% in July.

“The economy continues to show signs of recovery,” said Patrick Schaffer, global investment specialist at J.P. Morgan Private Bank. “Virus containment strategies seem more targeted and less blunt than they were in the initial phases.” of the pandemic.

The S&P 500 gained 35.11 points to 3,478.73. The Dow Jones Industrial Average rose 83.48 points, or 0.3%, to 28,331.92. The Nasdaq composite, which is heavily weighted with technology stocks, climbed 198.59 points, or 1.7%, to 11,665.06, its third-straight record high. Smaller companies struggled. The Russell 2000 index of small-cap stocks fell 11.02 points, or 0.7%, to 1,560.19.

On Thursday, the market will pay close attention as the Federal Reserve’s chair gives a highly anticipated speech on monetary policy. Jerome Powell will be speaking as part of the Fed’s annual economic symposium, which is usually held in Jackson Hole, Wyoming, where past Fed officials have made big market-moving announcements.

Many investors expect Powell to talk about inflation, as well as the importance of Congress delivering more aid for the economy after much of its last round of stimulus expired. Many investors are still assuming Congress will eventually reach a deal on such aid, but partisan disagreements have prevented one so far.

The Fed has been one of the primary reasons for the stock market’s return to a record, after it pledged to keep short-term interest rates at their record low and to continue to buy bonds to support the economy.

“I think the Fed is going to continue to go all in,” said Brad McMillan, chief investment officer for Commonwealth Financial Network, noting that the central bank is also increasingly serious about wanting to boost inflation.

“The speculation is they’ll move to an average inflation target, which will let inflation run hot for awhile,” he said.

The yield on the 10-year Treasury rose to 0.69% from 0.68% late Tuesday. It’s been climbing in recent weeks, up from 0.53% at the end of July, and it tends to move with investors’ expectations for the economy and inflation.

If yields move high enough, it could rattle the stock market because higher rates can draw investors back into bonds and away from stocks. The recent ultra-low rates have helped technology and other high-growth stocks in particular. But analysts say the 10-year Treasury yield would need to get closer to 1% to drive real concerns.

The latest tech stock to be minted a blue chip surged 26%, making it the biggest gainer in the S&P 500, after giving a profit report for its latest quarter that Wall Street analysts called “stupendous.” Salesforce.com will join the Dow Jones Industrial Average when trading begins on Monday, replacing Exxon Mobil in the measure of 30 blue-chip stocks.

Other technology stocks also had a good day, with Adobe up 9.1%. Hewlett Packard Enterprise gained 3.6% following its own better-than-expected profit report.

Tech stocks in the S&P 500 accounted for more than 57% of the S&P 500's overall gain. It continues a longstanding run on Wall Street, where investors continue to pile into companies that can deliver strong growth even if the economy is weak or quarantined.

“The market is just reflecting how the world has changed and how these (tech) companies are better positioned to take advantage of it,” McMillan said.

Cruise line operators were among the biggest decliners Wednesday. Norwegian Cruise Line fell 6.1%, while Carnival dropped 3.8%.

In European stock markets, the German DAX returned 1%, and the French CAC 40 rose 0.8%. The FTSE 100 in London added 0.1%. Asian markets made mostly modest moves. Japan’s Nikkei 225 and Hong Kong’s Hang Seng indexes were virtually flat, and South Korea’s Kospi added 0.1%. Stocks in Shanghai fell 1.3%.

Benchmark U.S. crude oil for October delivery rose 4 cents to $43.39 a barrel Wednesday. Brent crude oil for October delivery fell 22 cents to $45.64 a barrel. Oil has been ticking higher as Hurricane Laura barrels toward the U.S. Gulf Coast, potentially putting energy production at risk.


----------



## bigdog

The S&P 500 ticked further into record territory on Thursday after the Federal Reserve made a major overhaul to its strategy, one that could keep interest rates low for longer.

The benchmark index rose 0.2%, to another all-time high, but it veered through a jumbled day of trading to get there. Prices for stocks, bonds and gold all made several U-turns after Fed Chair Jerome Powell gave a highly anticipated speech. In it, he essentially said the Fed may continue efforts to prop up the economy even if inflation rises above its target level of 2%, as long as it had been weak before then.

The change in the Fed's strategy is a huge deal for markets. The central bank has been the superhero repeatedly rescuing them from crises through the years, by slashing short-term interest rates and buying all kinds of bonds. The momentous announcement was widely expected on Wall Street, if not on Thursday then later this year, but trading was nevertheless erratic following it.

The Dow Jones Industrial Average climbed 160.35 points, or 0.6%, to 28,492.27 after fading back from an earlier gain of 302 points. The Nasdaq composite, meanwhile, fell 39.72 points, or 0.3%, to 11,625.34 after paring an earlier loss of 1%.

The benchmark S&P 500 gained 5.82 points to 3,484.55 to set a closing record for the fifth straight day. It's surged nearly 56% since late March after the immense support of the Fed helped halt its earlier free-fall and erase its pandemic losses. Low rates often act like steroids for stocks, allowing their prices to rise faster than corporate profits.

“The era of easy money is here,” said Mike Loewengart, managing director of investment strategy at E-Trade Financial.

Treasury yields fell immediately after Powell began talking, but then started bouncing up and down. The yield of the 10-year Treasury was at 0.74% after stocks stopped trading on Wall Street, up from 0.68% late Wednesday. The 30-year yield climbed to 1.50% from 1.41%.

*ASX 200 expected to drop.*
Unfortunately, the ASX 200 could end the week on a disappointing note on Friday. According to the latest SPI futures, the benchmark index is expected to fall 11 points or 0.2% at the open. This is despite the majority of stocks in the United States pushing higher overnight. The Dow Jones rose 0.6% and the S&P 500 climbed 0.2%, whereas the Nasdaq fell 0.35%.  










https://www.usnews.com/news/busines...an-stocks-mixed-ahead-of-us-fed-chairs-speech

*S&P 500 Ticks up as 'Era of Easy Money' Looks Set to Last*
The S&P 500 ticked further into record territory on Thursday after the Federal Reserve made a major overhaul to its strategy, one that could keep interest rates low for longer.
By Associated Press, Wire Service Content Aug. 27, 2020, at 4:31 p.m. 

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — The S&P 500 ticked further into record territory on Thursday after the Federal Reserve made a major overhaul to its strategy, one that could keep interest rates low for longer.

The benchmark index rose 0.2%, to another all-time high, but it veered through a jumbled day of trading to get there. Prices for stocks, bonds and gold all made several U-turns after Fed Chair Jerome Powell gave a highly anticipated speech. In it, he essentially said the Fed may continue efforts to prop up the economy even if inflation rises above its target level of 2%, as long as it had been weak before then.

The change in the Fed's strategy is a huge deal for markets. The central bank has been the superhero repeatedly rescuing them from crises through the years, by slashing short-term interest rates and buying all kinds of bonds. The momentous announcement was widely expected on Wall Street, if not on Thursday then later this year, but trading was nevertheless erratic following it.

The Dow Jones Industrial Average climbed 160.35 points, or 0.6%, to 28,492.27 after fading back from an earlier gain of 302 points. The Nasdaq composite, meanwhile, fell 39.72 points, or 0.3%, to 11,625.34 after paring an earlier loss of 1%.

The benchmark S&P 500 gained 5.82 points to 3,484.55 to set a closing record for the fifth straight day. It's surged nearly 56% since late March after the immense support of the Fed helped halt its earlier free-fall and erase its pandemic losses. Low rates often act like steroids for stocks, allowing their prices to rise faster than corporate profits.

“The era of easy money is here,” said Mike Loewengart, managing director of investment strategy at E-Trade Financial.

Treasury yields fell immediately after Powell began talking, but then started bouncing up and down. The yield of the 10-year Treasury was at 0.74% after stocks stopped trading on Wall Street, up from 0.68% late Wednesday. The 30-year yield climbed to 1.50% from 1.41%.

Shorter-term Treasury yields were more subdued, and the two-year yield held at 0.14%. The widening gap between short- and longer-term yields could be an indication of higher expectations for the economy or inflation among investors.

Gold for delivery in December fell $19.90 to settle at $1,932.60 per ounce. Earlier, it had leaped to $1,968.80 after Powell began talking. Lower Treasury yields can drive demand for gold from investors seeking safety but not interested in the lower interest payments coming from bonds.

Earlier in the morning, a report showed the pace of layoffs sweeping the country remains incredibly high but may be slowing. A little more than 1 million U.S. workers applied for unemployment benefits last week, which was a dip from the slightly more than 1.1 million the prior week.

“It puts a spotlight on the heavy lifting the economy is going to need to get people back in the jobs market,” said Marvin Loh, senior global macro strategist at State Street.

He said investors are still banking on Congress delivering another round of aid for the economy, which could include benefits for unemployed workers. Much of Congress' last round of stimulus has expired, and investors say a renewal is critical, though partisan disagreements have prevented a deal.

“It’s a necessary result that has to come out of Washington sooner rather than later,” Loh said.

In another report, the government also said that the economy looks like it shrank at an annual rate of 31.7% in the spring quarter. That would be the sharpest quarterly drop on record, but it’s not as bad as the Commerce Department’s earlier estimate of 32.9%.

Abbott Laboratories jumped 7.8% for one of the biggest gains in the S&P 500 after federal regulators gave emergency use authorization for its COVID-19 test, which can provide results in 15 minutes and will cost only $5.

Stocks of companies that sorely need people feeling comfortable enough with the pandemic to get back to “normal” life were also strong. Live Nation Entertainment rose 8.8%, Norwegian Cruise Line was up 5.9% and United Airlines rallied 5.8%.

Financial stocks had the biggest gain among the 11 sectors that make up the S&P 500, up 1.7%. A higher 10-year Treasury yield allows for higher rates on mortgages and other loans, which boosts profits for banks. JPMorgan Chase gained 3.3%, and Wells Fargo rose 2.3%.

Counterbalancing those gains were losses for some big tech and internet companies, which gave back some of their slingshot, earlier gains. Apple slipped 1.2%. It's coming off four straight weeks where it rocketed up by 3% to 14.7%.

In European stock markets, the German DAX lost 0.7%, and France's CAC 40 slipped 0.6%. The FTSE 100 in London was down 0.8%.

In Asia, Japan's Nikkei 225 slipped 0.4%, and South Korea's Kospi lost 1%. The Hang Seng in Hong Kong fell 0.8%, and stocks in Shanghai rose 0.6%.

Benchmark U.S. crude oil fell 35 cents to settle at $43.04 per barrel. Brent crude, the international standard, lost 55 cents to $45.09 per barrel.


----------



## bigdog

The gains keep piling up on Wall Street, and the S&P 500 rallied again on Friday to close out its fifth straight winning week.

The benchmark index rose 23.46, or 0.7%, to 3,508.01, setting another record high and several more superlatives. It was the seventh straight day of gains for the index. It also capped a 3.3% rally for the week to cement its longest weekly winning streak since December, before the coronavirus pandemic swept the world and sent economies tumbling into recession.

The Dow Jones Industrial Average rallied 161.60, or 0.6%, to 28,653.87 and clawed its way back to a tiny gain for the year. It’s just 0.4%, but it's the first time the Dow has been up for 2020 since late February.

The Nasdaq composite climbed 70.30, or 0.6%, to 11,695.63 to set another record. It’s lapped the other U.S. stock indexes many times over, thanks to market-leading gains for big technology stocks, and it's up 30.3% for 2020 so far.

A report released before trading began showed that U.S. consumer spending grew more in July than economists expected. That’s key because consumer spending is the main driver of the nation’s economy. Consumers increased their spending by 1.9% for the third straight month of gains, though it was a slowdown from June’s 6.2% growth.

Income also rose by 0.4% for Americans last month, snapping back from a drop in June. It adds to other reports showing the economy has improved since the worst of the business lockdowns of the spring, though it remains well below where it was before the pandemic. Data recently has also been relatively mixed.

Ulta Beauty, a company that relies on consumers opening their wallets, jumped 5.8% for one of the biggest gains in the S&P 500 after it reported a drop in profit for the latest quarter that wasn’t as bad as Wall Street analysts expected.

Technology stocks also again helped to pull the market higher. HP rose 6.1% after it reported better profit for the latest quarter than analysts expected. The pandemic means more people are working and learning — and printing documents — from home, which helps sales of all kinds of products for HP.

Stocks are continuing to rise after the Federal Reserve on Thursday unveiled a change in strategy that likely means interest rates will stay low for a long time, even if inflation rises above the 2% target level of the central bank. It's something Fed Chair Jerome Powell called a form of “average inflation targeting” in a widely anticipated speech, and its full ramifications are still to be determined.

“Markets are trying to figure out what the Fed actually meant by its average inflation target,” said Jamie Cox, managing partner for Harris Financial Group.











https://www.usnews.com/news/busines...-as-fed-chair-says-interest-rates-to-stay-low

*S&P 500 Rises to Close Out Longest Weekly Win Streak of 2020*
More gains for stocks Friday gave the S&P 500 its fifth straight winning week.
By Associated Press, Wire Service Content Aug. 28, 2020, at 4:34 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — The gains keep piling up on Wall Street, and the S&P 500 rallied again on Friday to close out its fifth straight winning week.

The benchmark index rose 23.46, or 0.7%, to 3,508.01, setting another record high and several more superlatives. It was the seventh straight day of gains for the index. It also capped a 3.3% rally for the week to cement its longest weekly winning streak since December, before the coronavirus pandemic swept the world and sent economies tumbling into recession.

The Dow Jones Industrial Average rallied 161.60, or 0.6%, to 28,653.87 and clawed its way back to a tiny gain for the year. It’s just 0.4%, but it's the first time the Dow has been up for 2020 since late February.

The Nasdaq composite climbed 70.30, or 0.6%, to 11,695.63 to set another record. It’s lapped the other U.S. stock indexes many times over, thanks to market-leading gains for big technology stocks, and it's up 30.3% for 2020 so far.

A report released before trading began showed that U.S. consumer spending grew more in July than economists expected. That’s key because consumer spending is the main driver of the nation’s economy. Consumers increased their spending by 1.9% for the third straight month of gains, though it was a slowdown from June’s 6.2% growth.

Income also rose by 0.4% for Americans last month, snapping back from a drop in June. It adds to other reports showing the economy has improved since the worst of the business lockdowns of the spring, though it remains well below where it was before the pandemic. Data recently has also been relatively mixed.

Ulta Beauty, a company that relies on consumers opening their wallets, jumped 5.8% for one of the biggest gains in the S&P 500 after it reported a drop in profit for the latest quarter that wasn’t as bad as Wall Street analysts expected.

Technology stocks also again helped to pull the market higher. HP rose 6.1% after it reported better profit for the latest quarter than analysts expected. The pandemic means more people are working and learning — and printing documents — from home, which helps sales of all kinds of products for HP.

Stocks are continuing to rise after the Federal Reserve on Thursday unveiled a change in strategy that likely means interest rates will stay low for a long time, even if inflation rises above the 2% target level of the central bank. It's something Fed Chair Jerome Powell called a form of “average inflation targeting” in a widely anticipated speech, and its full ramifications are still to be determined.

“Markets are trying to figure out what the Fed actually meant by its average inflation target,” said Jamie Cox, managing partner for Harris Financial Group.

Low interest rates and massive amounts of bond purchases by the Fed have helped prop up the economy, and they’re a central reason the S&P 500 has been able to recover from its nearly 34% plunge earlier this year, even though the pandemic is still raging.

With aid from the Federal Reserve firmly in place, investors want to see Congress also deliver more support for the economy. Weekly benefits that it approved earlier for unemployed workers have run out, and investors say the economy desperately needs another lifeline from Capitol Hill to carry it through its current weakness.

“You can already see some cracks forming in what consumer spending will look like if there isn’t much support in the future,” Cox said.

House Speaker Nancy Pelosi and the White House’s chief of staff resumed talks on a big aid package Thursday, the first attempt to restart talks after negotiations fell apart earlier this month. But no deal seems imminent with both sides remaining far apart.

Stock indexes abroad were mixed as the Fed’s momentous decision continued to work its way through currency and other markets.

In Europe, Germany’s DAX lost 0.5%, and France’s CAC 40 slipped 0.3%. The FTSE 100 in London was down 0.6%.

The Nikkei 225 lost 1.4% after Japanese Prime Minister Shinzo Abe said he is resigning due to health problems. Abe stepped down from a brief earlier term as prime minister in 2007, also for health reasons. He recently became Japan’s longest continuously serving prime minister.

Elsewhere in Asia, Hong Kong’s Hang Seng climbed 0.6%, South Korea’s Kospi added 0.4% and stocks in Shanghai jumped 1.6%.

The yield on the 10-year Treasury gave back a bit of its big rise from the day before, dipping to 0.73% from 0.74% late Thursday. The 30-year yield rose to 1.51% from 1.50%.

Longer-term yields remain well above shorter-term yields, including the two-year yield at 0.14%. A wider gap between them can indicate rising investor expectations for the economy and inflation in the future.

Benchmark U.S. crude oil slipped 7 cents to settle at $42.97 per barrel. Brent crude, the international standard, fell 4 cents to $45.05 a barrel.

098


----------



## bigdog

*ASX 200 to drop lower.*
The ASX 200 looks set to start the week in the red. According to the latest SPI futures, the benchmark index is expected to open the week a disappointing 40 points lower. This is despite Wall Street finishing the week strongly on Friday. The Dow Jones climbed 0.6%, the S&P 500 rose 0.8%, and the Nasdaq pushed 0.6% higher.


----------



## bigdog

Stocks ended lower on Wall Street Monday, but the market still closed out August with its fifth monthly gain in a row.

The S&P 500 fell 0.2% after spending much of the day wavering between gains and losses of less than 0.1%. The modest decline, which snapped the index's seven-day winning streak, came as losses in financial, industrial and energy companies outweighed gains in technology stocks.

The benchmark index finished the month with a 7% gain, making it the S&P 500's best August since 1986. It's now up 8.3% this year. The Nasdaq composite, meanwhile, added to its recent string of milestones, closing at an all-time high.

The market's latest strong monthly finish extends a remarkable comeback for Wall Street since the coronavirus pandemic knocked financial markets into a steep skid and the global economy into recession.

Encouraging economic data as broad swaths of the economy have reopened this summer have helped stoke investor optimism about a recovery. The question is whether that's going to be enough to keep the market moving higher when so much uncertainty remains about the pandemic's lasting impact on companies and consumers.

“People need to be careful here because what we have is an exuberant rally sitting on the foundation of a shaky recovery,” said David Kelly, chief global strategist at JPMorgan Funds. He added that there will likely be a market correction “that brings us back down to Earth.”

The S&P 500 fell 7.70 points to 3,500.31. The Dow Jones Industrial Average lost 223.82 points, or 0.8%, to 28,430.05.

The Nasdaq rose 79.82 points, or 0.7%, to 11,775.46. The index, heavily weighted with tech stocks, has led the market's rebound this year. It finished August with a 9.6% gain and it's up 31.2% for the year. The Russell 2000 index of small company stocks fell 16.47 points, or 1%, to 1,561.88.

Low interest rates and massive amounts of bond purchases by the Federal Reserve have helped prop up the economy, and they’re a central reason the S&P 500 has been able to recover from its nearly 34% plunge earlier this year, even though the pandemic is still raging.

Congress has also offered unprecedented amounts of aid, though it’s hit a seeming impasse in negotiations to re-up its assistance. Weekly benefits that it approved earlier for unemployed workers have run out, and investors say the economy desperately needs another lifeline from Capitol Hill to carry it through its current weakness.

Investors have been largely willing to look a few months or a year into the future, when a vaccine for the new coronavirus will hopefully be available and helping the economy get back to normal. The market is also betting that corporate profits will rebound next year from their current coronavirus-caused hole.

*ASX 200 expected to sink lower.*
It looks set to be a disappointing start to the month for the ASX 200 on Tuesday. According to the latest SPI futures, the benchmark index is expected to fall 61 points or 1% lower this morning. This follows a mixed start to the week on Wall Street, which saw the Dow Jones fall 0.8%, the S&P 500 drop 0.2%, and the Nasdaq push 0.7% higher.










https://www.usnews.com/news/busines...eakly-but-are-still-headed-for-a-monthly-gain

*Stocks End a Bumpy Day Mostly Lower, Still Notch August Gain*
Stocks ended mostly lower on Wall Street Monday as the market gave back some of its recent gains following a five-week winning streak.
By Associated Press, Wire Service Content Aug. 31, 2020, at 5:28 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Stocks ended lower on Wall Street Monday, but the market still closed out August with its fifth monthly gain in a row.

The S&P 500 fell 0.2% after spending much of the day wavering between gains and losses of less than 0.1%. The modest decline, which snapped the index's seven-day winning streak, came as losses in financial, industrial and energy companies outweighed gains in technology stocks.

The benchmark index finished the month with a 7% gain, making it the S&P 500's best August since 1986. It's now up 8.3% this year. The Nasdaq composite, meanwhile, added to its recent string of milestones, closing at an all-time high.

The market's latest strong monthly finish extends a remarkable comeback for Wall Street since the coronavirus pandemic knocked financial markets into a steep skid and the global economy into recession.

Encouraging economic data as broad swaths of the economy have reopened this summer have helped stoke investor optimism about a recovery. The question is whether that's going to be enough to keep the market moving higher when so much uncertainty remains about the pandemic's lasting impact on companies and consumers.

“People need to be careful here because what we have is an exuberant rally sitting on the foundation of a shaky recovery,” said David Kelly, chief global strategist at JPMorgan Funds. He added that there will likely be a market correction “that brings us back down to Earth.”

The S&P 500 fell 7.70 points to 3,500.31. The Dow Jones Industrial Average lost 223.82 points, or 0.8%, to 28,430.05.

The Nasdaq rose 79.82 points, or 0.7%, to 11,775.46. The index, heavily weighted with tech stocks, has led the market's rebound this year. It finished August with a 9.6% gain and it's up 31.2% for the year. The Russell 2000 index of small company stocks fell 16.47 points, or 1%, to 1,561.88.

Low interest rates and massive amounts of bond purchases by the Federal Reserve have helped prop up the economy, and they’re a central reason the S&P 500 has been able to recover from its nearly 34% plunge earlier this year, even though the pandemic is still raging.

Congress has also offered unprecedented amounts of aid, though it’s hit a seeming impasse in negotiations to re-up its assistance. Weekly benefits that it approved earlier for unemployed workers have run out, and investors say the economy desperately needs another lifeline from Capitol Hill to carry it through its current weakness.

Investors have been largely willing to look a few months or a year into the future, when a vaccine for the new coronavirus will hopefully be available and helping the economy get back to normal. The market is also betting that corporate profits will rebound next year from their current coronavirus-caused hole.

Still, the economy, which despite strong housing sector growth and modest improvements in retail sales and unemployment, remains in a deep recession — a stark contrast to Wall Street’s roaring comeback the past five months.

Part of the reason some of the recent economic reports have been strong, such as retail sales, is that the figures were bouncing back from steep declines due to the broad shutdown of businesses in the spring. Economic data in the next few months are not likely to be as eye-popping, said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors.

“We're here because of the euphoria around some of the economic numbers as the economy has reopened,” she said. “The second half of this year, the last quarter of this year, is going to be a bit more challenging for the (stock) market than we've seen over the past three months.”

Another factor that may weigh on the market is history. Since 1950, September has been, on average, the weakest month of the year for stocks, according to LPL Financial. And the last two times that the S&P 500 ended August ended with a gain of more than 5% it went on to lose all of those gains in September.

“Well, 2020 has laughed at many of these things, but be aware September is indeed the worst month of the year on average,” Ryan Detrick, chief market strategist at LPL Financial, wrote in a commentary.

Monday was the first day of trading in the Dow since the 30-company average had its lineup of companies revamped. Salesforce.com, Amgen and Honeywell International are replacing Exxon Mobil, Pfizer and Raytheon Technologies. The shuffle was triggered by a 4-for-1 stock split in Dow member Apple. Tesla also had a 5-for-1 stock split that took effect Monday. Apple was up 3.4%, while Tesla vaulted 12.6%.

Markets in Europe closed broadly lower. The DAX in Germany fell 0.7%, while the CAC 40 in France lost 1.1%. Stock markets in the United Kingdom were closed for a holiday.

The yield on the 10-year Treasury slipped to 0.70% from 0.72% late Friday.

Oil prices fell. Benchmark U.S. crude oil for October delivery fell 36 cents to $42.61 a barrel Monday. Brent crude oil for November delivery dropped 53 cents to $45.28 a barrel.

Asian markets closed broadly lower except for Japan, where the market got a boost by gains for five major trading companies after investor Warren Buffett’s Berkshire Hathaway announced it bought stakes of just over 5% in those companies. Gains in Japanese factory output also helped lift sentiment.


----------



## bigdog

Wall Street kicked off September with another set of milestones Tuesday, as an afternoon rally carried the S&P 500 and Nasdaq composite to all-time highs.

The S&P 500 bounced back from a modest loss in the early going to finish 0.8% higher a day after the benchmark index wrapped up its fifth monthly gain in a row. More strength in technology stocks and solid gains in retailers and other companies that rely on consumers offset declines in health care companies and elsewhere in the market. Treasury yields fell.

Terry Sandven, chief equity strategist at U.S. Bank Wealth Management, said stocks “have fast become a buy high, sell higher market, and for good reason.” Sandven said investors are right to take a “glass half full” view of the strengths underlying the market, which could continue to trend upward.

“This has largely been a technology-driven market, and as tech goes so will the broad index,” he said.

The S&P 500 gained 26.34 points to 3,526.65. The index set several new highs last month. The Dow Jones Industrial Average recovered from an early, 139-point skid, climbing 215.61 points, or 0.8%, to 28,645.66.

The Nasdaq composite rose 164.21 points, or 1.4%, to 11,939.67. The Russell 2000 index of smaller company stocks also bounced back from an sluggish start, adding 16.71 points, or 1.1%, to 1,578.58.

The stock market has continued its remarkable turnaround since plunging nearly 34% early this year as the coronavirus pandemic knocked the economy into a recession. The S&P 500 closed out August with a 7% gain, its best showing since April. It’s now up 9.2% this year, while the tech-driven rally has powered the Nasdaq to a gain of more than 33%.

Encouraging data as broad swaths of the economy have reopened this summer have helped stoke investor optimism about a recovery. The question is whether that’s going to be enough to keep the market moving higher when so much uncertainty remains about the pandemic’s lasting impact on companies and consumers.

Whether the market can sustain its upward trajectory in September, traditionally the worst month for stocks, will depend on how several potentially market-moving variables play out the next few months. Will Congress reach a deal on another economic stimulus bill? Will coronavirus infections surge as students in states where schools  are due to reopen go back to the classroom? How will the elections shake out?


*ASX 200 to rebound.*
The ASX 200 looks set to end its losing streak on Wednesday. According to the latest SPI futures, the benchmark index is expected to rise 28 points 0.5% higher at the open. This follows a positive night of trade on Wall Street which saw the Dow Jones rise 0.75%, the S&P 500 climb 0.75%, and the Nasdaq storm 1.4% higher.










https://apnews.com/c5490618c7d2de2b01762787fd5482e7

*US stocks start September off with more gains, led by tech*
By ALEX VEIGA an hour ago

Wall Street kicked off September with another set of milestones Tuesday, as an afternoon rally carried the S&P 500 and Nasdaq composite to all-time highs.

The S&P 500 bounced back from a modest loss in the early going to finish 0.8% higher a day after the benchmark index wrapped up its fifth monthly gain in a row. More strength in technology stocks and solid gains in retailers and other companies that rely on consumers offset declines in health care companies and elsewhere in the market. Treasury yields fell.

Terry Sandven, chief equity strategist at U.S. Bank Wealth Management, said stocks “have fast become a buy high, sell higher market, and for good reason.” Sandven said investors are right to take a “glass half full” view of the strengths underlying the market, which could continue to trend upward.

“This has largely been a technology-driven market, and as tech goes so will the broad index,” he said.

The S&P 500 gained 26.34 points to 3,526.65. The index set several new highs last month. The Dow Jones Industrial Average recovered from an early, 139-point skid, climbing 215.61 points, or 0.8%, to 28,645.66.

The Nasdaq composite rose 164.21 points, or 1.4%, to 11,939.67. The Russell 2000 index of smaller company stocks also bounced back from an sluggish start, adding 16.71 points, or 1.1%, to 1,578.58.

The stock market has continued its remarkable turnaround since plunging nearly 34% early this year as the coronavirus pandemic knocked the economy into a recession. The S&P 500 closed out August with a 7% gain, its best showing since April. It’s now up 9.2% this year, while the tech-driven rally has powered the Nasdaq to a gain of more than 33%.

Encouraging data as broad swaths of the economy have reopened this summer have helped stoke investor optimism about a recovery. The question is whether that’s going to be enough to keep the market moving higher when so much uncertainty remains about the pandemic’s lasting impact on companies and consumers.

Whether the market can sustain its upward trajectory in September, traditionally the worst month for stocks, will depend on how several potentially market-moving variables play out the next few months. Will Congress reach a deal on another economic stimulus bill? Will coronavirus infections surge as students in states where schools  are due to reopen go back to the classroom? How will the elections shake out?

“It’s a market that’s at all-time highs, but not without risks,” Sandven said.

Traders have been favoring technology stocks as the pandemic has dragged on, forcing millions of people to rely more than ever on internet-connected devices and online services for work, home schooling and communication.

Apple climbed 4% Tuesday. It’s up more than 82% this year. Meanwhile, Zoom Video Communications soared 40.8%, a day after the now-ubiquitous video conferencing service reported another quarter of explosive growth.

Another recent high-flyer, Tesla, fell 4.7% after the electric car maker said it would sell up to $5 billion in stock. Tesla has risen more than five-fold this year and did a five-for-one stock split on Monday.

Walmart was among the biggest gainers in the S&P 500 as investors welcomed news of the retail giant’s debut later this month of a of a service offering members same-day delivery, fuel discounts and other perks. The stock rose 6.3%.

Stocks perked up Tuesday following the release of some better-than-expected economic data. The Commerce Department said U.S. construction spending edged higher in July, breaking a string of losses due to disruptions caused by the pandemic. And the Institute for Supply Management said its latest manufacturing index  increased last month, reflecting a faster pace of expansion by American factories.

Investors will be looking for more clues on the state of the economic recovery this week amid what is going to be a busy week for economic news, including the government’s monthly U.S. jobs report on Friday.

The yield on the 10-year Treasury fell to 0.68% from 0.71% late Monday.

Oil prices rose. Benchmark U.S. crude oil for October delivery rose 15 cents to $42.76 a barrel. Brent crude oil for November delivery rose 30 cents to $45.58 a barrel.

Tuesday’s gains for U.S. stocks followed a mostly downbeat finish in European markets. France’s CAC 40 fell 0.2%, while Germany’s DAX added 0.1%. Britain’s FTSE 100 lost 1.7% a day after it was closed for a public holiday. Asian markets ended mixed.


----------



## bigdog

The Dow Jones Industrial Average surged more than 450 points Wednesday as the stock market notched its best day in nearly two months.

The S&P 500 rose 1.5%, it's best day since July 6. The benchmark index and the Nasdaq composite each hit new highs, extending Wall Street’s milestone-setting run in recent weeks.

Health care, technology and communications companies drove the rally. Technology stocks, which have led the market's rebound this year, briefly stumbled in the early going, but gained strength into the afternoon. Energy companies fell as oil prices closed lower. Treasury yields were mixed.

Speculation that negotiators in Congress and the White House will reach an agreement on a coronavirus relief package and optimism that a COVID-19 vaccine will become available this year helped put traders in a buying mood Wednesday, said J.J. Kinahan, chief strategist with TD Ameritrade.

“That, along with the fact that people continue to want to buy the stocks that have performed so well,” he said. “You look around for alternatives to put your money in right now and there really aren't many great places to say ‘this is where I want to have my money.’”

“There’s a desire on both sides and they’re recognizing they are going to have to come to a deal some time soon,” said Katie Nixon, chief investment officer at Northern Trust Wealth Management.

The S&P 500 gained 54.19 points to 3,580.84, it's best say since July 6. The Dow Jones Industrial Average rose 454.84 points, or 1.6%, to 29,100.50. The Nasdaq composite recovered from an early slide, adding 116.78 points, or 1%, to 12,056.44.

The benchmark S&P 500 index is up 10.8% so far this year following a five month streak of gains, while the Nasdaq is up 34.4%, driven by huge gains for technology giants like Apple.

Low interest rates and massive amounts of bond purchases by the Federal Reserve have helped prop up the economy, and they’re a central reason the S&P 500 has been able to recover from its nearly 34% plunge earlier this year. Wall Street's push higher has been powered by gains in technology stocks that investors expect will remain safe bets throughout the pandemic and beyond, reflecting how reliant people have become on internet-connected devices and online services while spending more time at home.

Improving data on business reopenings, recent company earnings reports that have been less worse than feared and encouraging signs as drugmakers race to develop a vaccine for COVID-19 by the end of the year have fueled investor optimism that the economy will bounce back from a deep recession.

*ASX 200 to charge higher again.*
The ASX 200 looks set to continue its recovery on Thursday. According to the latest SPI futures, the benchmark index is expected to rise 39 points or 0.65% at the open. This follows an extremely positive night of trade on Wall Street which saw the Dow Jones storm 1.75% higher, the S&P 500 jump 1.55%, and the Nasdaq push 1% higher.










https://www.usnews.com/news/busines...d-higher-add-to-markets-solid-string-of-gains

*Wall Street Has Biggest Gain Since July, Sets More Records*
The stock market jumped to its biggest gain since July on Wednesday, sending the S&P 500 up 1.5%.
By Associated Press, Wire Service Content Sept. 2, 2020, at 4:59 p.m. 

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

The Dow Jones Industrial Average surged more than 450 points Wednesday as the stock market notched its best day in nearly two months.

The S&P 500 rose 1.5%, it's best day since July 6. The benchmark index and the Nasdaq composite each hit new highs, extending Wall Street’s milestone-setting run in recent weeks.

Health care, technology and communications companies drove the rally. Technology stocks, which have led the market's rebound this year, briefly stumbled in the early going, but gained strength into the afternoon. Energy companies fell as oil prices closed lower. Treasury yields were mixed.

Speculation that negotiators in Congress and the White House will reach an agreement on a coronavirus relief package and optimism that a COVID-19 vaccine will become available this year helped put traders in a buying mood Wednesday, said J.J. Kinahan, chief strategist with TD Ameritrade.

“That, along with the fact that people continue to want to buy the stocks that have performed so well,” he said. “You look around for alternatives to put your money in right now and there really aren't many great places to say ‘this is where I want to have my money.’”

“There’s a desire on both sides and they’re recognizing they are going to have to come to a deal some time soon,” said Katie Nixon, chief investment officer at Northern Trust Wealth Management.

The S&P 500 gained 54.19 points to 3,580.84, it's best say since July 6. The Dow Jones Industrial Average rose 454.84 points, or 1.6%, to 29,100.50. The Nasdaq composite recovered from an early slide, adding 116.78 points, or 1%, to 12,056.44.

The benchmark S&P 500 index is up 10.8% so far this year following a five month streak of gains, while the Nasdaq is up 34.4%, driven by huge gains for technology giants like Apple.

Low interest rates and massive amounts of bond purchases by the Federal Reserve have helped prop up the economy, and they’re a central reason the S&P 500 has been able to recover from its nearly 34% plunge earlier this year. Wall Street's push higher has been powered by gains in technology stocks that investors expect will remain safe bets throughout the pandemic and beyond, reflecting how reliant people have become on internet-connected devices and online services while spending more time at home.

Improving data on business reopenings, recent company earnings reports that have been less worse than feared and encouraging signs as drugmakers race to develop a vaccine for COVID-19 by the end of the year have fueled investor optimism that the economy will bounce back from a deep recession.

DraftKings was among the big gainers, vaulting 8% after announcing that basketball legend Michael Jordan would take an ownership stake in the company in exchange for becoming a special adviser to the sports betting site.

Macy’s rose 0.6% after reporting a quarterly loss that was much smaller than analysts were anticipating. The department store chain said its digital sales rose more than 50% in the latest quarter.

Treasury yields were mixed. The yield on the 10-year Treasury note fell to 0.65% from 0.67% late Tuesday, while the yield on the 2-year note rose to 0.14% from 0.12%.

Oil prices fell. Benchmark U.S. crude oil for October delivery slid $1.25 to $41.51 a barrel Wednesday. Brent crude oil for November delivery dropped $1.15 to $44.43 a barrel.


----------



## bigdog

Wall Street’s euphoria took a break Thursday, as steep losses in technology stocks dragged the rest of the market down with them.

The S&P 500 fell 3.5%, the biggest decline for stocks since early June, when investors were dealing with a surge of coronavirus infections in places like Florida, Texas and Arizona. There seemed to be no explicit catalyst for the sell-off, with economic data coming in roughly where the market had expected and no companies issuing foreboding warnings.

That said, the market felt due for a breather, investors said. Both the S&P 500 and Nasdaq hit record highs just the day before. Prior to Thursday, the S&P 500 had risen nine out of the previous 10 days.

Apple dropped 8%, Amazon lost 4.6% and Facebook gave back 3.8%. The Big Tech stocks have made massive gains this year. Investors have been betting those companies would continue posting huge profits as people spend even more time online with their devices. They’ve also assigned lofty market values to new-found darlings such as Zoom Video Communications as many Americans work remotely and students do online learning.

Market watchers have been questioning recently whether those gains were overdone. Apple is still up 64.7% for the year, and Amazon is up 82.3%. Zoom’s gain for the year is still a whopping 460.4%.

”There’s really very little to justify (these stocks’ upward move) other than euphoria,” said Mark Hackett, chief of investment research at Nationwide.

Hackett also noted the market has “embedded very optimistic assumptions” about the virus’s impact on the economy, as well as on prospects for Congress and the White House coming up with another economic relief package.

The government reported that the number of Americans who applied for unemployment benefits fell last week to 881,000, slightly better than what economists had expected. That said, companies are still letting workers go at numbers well above those seen in the Great Recession, meaning the jobs picture remains still extremely bleak despite recent improvements.

The stock market has rallied this spring and summer after plunging in March as investors realized the economic toll the coronavirus pandemic was going to cause. Most of the rally has been on strong performances from tech stocks, but also a hope that the worst of the pandemic is in the past, despite rising infections in schools and the possibility of a second surge of infections in the fall. Huge amounts of support from the Federal Reserve and Congress have also helped bolster the economy.

Investors will be paying close attention Friday when the Labor Department releases its August job report. Economists surveyed by FactSet forecast that the U.S. economy created 1.4 million jobs in August, but that would be down from 1.74 million jobs in July. Tens of millions of Americans remain unemployed however, as seen by this week’s unemployment benefits numbers.

If the jobs numbers do not deliver, it’s unlikely the stock market will rally much higher from here, analysts said.

The Dow Jones Industrial Average fell 807.77 points, or 2.8%, to 28,292.73. It was briefly down 1,000 points earlier. The day before, the Dow crossed 29,000 for the first time since February.

The S&P 500 index lost 125.78 points, or 3.5%, to close as 3,455.06. The technology-heavy Nasdaq dropped 598.34 points, or 5%, to 11,458.10.

*ASX 200 to crash lower.*
It looks set to be a very disappointing end to the week for the ASX 200 following a terrible night of trade on Wall Street. According to the latest SPI futures, the benchmark index is expected to crash 120 points or 2% lower at the open. On Wall Street the Dow Jones sank 2.8% lower, the S&P 500 dropped 3.5%, and the Nasdaq crashed 5% lower. Apple shares were a major drag, falling 8% overnight. This appears to have been driven by profit taking.










https://www.usnews.com/news/busines...n-stock-markets-mixed-after-wall-street-surge

*Tech Slump Sends Stock Market to Its Biggest Loss Since June*
Stocks fell sharply on Wall Street Thursday as high-flying technology companies took a tumble after months of spectacular gains.
By Associated Press, Wire Service Content Sept. 3, 2020, at 5:26 p.m. 

KEN SWEET and DAMIAN TROISE, AP Business Writers

NEW YORK (AP) — Wall Street’s euphoria took a break Thursday, as steep losses in technology stocks dragged the rest of the market down with them.

The S&P 500 fell 3.5%, the biggest decline for stocks since early June, when investors were dealing with a surge of coronavirus infections in places like Florida, Texas and Arizona. There seemed to be no explicit catalyst for the sell-off, with economic data coming in roughly where the market had expected and no companies issuing foreboding warnings.

That said, the market felt due for a breather, investors said. Both the S&P 500 and Nasdaq hit record highs just the day before. Prior to Thursday, the S&P 500 had risen nine out of the previous 10 days.

Apple dropped 8%, Amazon lost 4.6% and Facebook gave back 3.8%. The Big Tech stocks have made massive gains this year. Investors have been betting those companies would continue posting huge profits as people spend even more time online with their devices. They’ve also assigned lofty market values to new-found darlings such as Zoom Video Communications as many Americans work remotely and students do online learning.

Market watchers have been questioning recently whether those gains were overdone. Apple is still up 64.7% for the year, and Amazon is up 82.3%. Zoom’s gain for the year is still a whopping 460.4%.

”There’s really very little to justify (these stocks’ upward move) other than euphoria,” said Mark Hackett, chief of investment research at Nationwide.

Hackett also noted the market has “embedded very optimistic assumptions” about the virus’s impact on the economy, as well as on prospects for Congress and the White House coming up with another economic relief package.

The government reported that the number of Americans who applied for unemployment benefits fell last week to 881,000, slightly better than what economists had expected. That said, companies are still letting workers go at numbers well above those seen in the Great Recession, meaning the jobs picture remains still extremely bleak despite recent improvements.

The stock market has rallied this spring and summer after plunging in March as investors realized the economic toll the coronavirus pandemic was going to cause. Most of the rally has been on strong performances from tech stocks, but also a hope that the worst of the pandemic is in the past, despite rising infections in schools and the possibility of a second surge of infections in the fall. Huge amounts of support from the Federal Reserve and Congress have also helped bolster the economy.

Investors will be paying close attention Friday when the Labor Department releases its August job report. Economists surveyed by FactSet forecast that the U.S. economy created 1.4 million jobs in August, but that would be down from 1.74 million jobs in July. Tens of millions of Americans remain unemployed however, as seen by this week’s unemployment benefits numbers.

If the jobs numbers do not deliver, it’s unlikely the stock market will rally much higher from here, analysts said.

The Dow Jones Industrial Average fell 807.77 points, or 2.8%, to 28,292.73. It was briefly down 1,000 points earlier. The day before, the Dow crossed 29,000 for the first time since February.

The S&P 500 index lost 125.78 points, or 3.5%, to close as 3,455.06. The technology-heavy Nasdaq dropped 598.34 points, or 5%, to 11,458.10.

Along with the biggest technology stocks, semiconductor companies also fell sharply. Nvidia, Qorvo and Advanced Micro Devices fell 8% or more. Even with Thursday’s drop Nvidia is still the biggest gainer in the S&P 500 so far this year.

The stocks that were doing better than the rest of the market were companies that have been beaten down this year: travel companies and airlines. Carnival Corp rose 5.2%, Norwegian Cruise Lines rose 3.8% and Royal Caribbean climbed 2.7%.


----------



## Knobby22

The USA tech stocks have been going up in a straight line. A correction is a necessity and expected.


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## bigdog

Knobby22 said:


> The USA tech stocks have been going up in a straight line. A correction is a necessity and expected.




The stock market closed out its worst week in more than two months Friday as a second straight day of turbulent trading ended with more losses.

The S&P 500 fell 0.8%, although the index did claw most of the way back from a 3.1% skid earlier in the day. A slide in technology stocks again did much of the damage.

The two-day sell-off came after the S&P 500 set new highs earlier in the week and had its best day in nearly two months. There wasn’t a particular catalyst for continued selling in the high-flying tech sector, but analysts noted that those stocks had posted gigantic gains so far this year that many thought were overdone.

“We had a fast and furious rally at the end of August and we’ve given it back,” said Barry Bannister, head of institutional equity strategy at Stifel. “Investors are like a herd of gazelle on the Serengeti; it doesn’t take much to spook them. They’re alarmed and on the move.”

The selling followed a Labor Department report showing that U.S. hiring slowed to 1.4 million last month, the fewest jobs added since the economy started bouncing back from the initial shock of the pandemic, even as the nation's unemployment rate improved to 8.4% from 10.2%. The U.S. economy has recovered about half the 22 million jobs lost to the pandemic.

The S&P 500 fell 28.10 points to 3,426.96. The Dow Jones Industrial Average lost 159.42 points, or 0.6%, to 28,133.31. The index had swung sharply during the day, between a loss of as much as 628 points and a gain of as much as 247.

The technology-heavy Nasdaq dropped 144.97 points, or 1.3%, to 11,313.13. The slide added to the index's 5% skid from the day before.

The VIX, a gauge of how much volatility investors expect in the market, has been rising. Even so, traders were not shifting funds into traditional safe-haven assets like U.S. government bonds and precious metals, a sign that the sell-off was not necessarily a reaction to jitters about the economy.

“A lot of people were piling into the (tech) trade and there are a lot of gains to be made," said Stephanie Roth, portfolio macro analyst at J.P. Morgan Private Bank. "This is more an instance of profit-taking, rather than true panic.”










https://www.usnews.com/news/busines...llow-wall-street-lower-as-investors-pull-back

*Stocks Claw Back Some of Their Losses in Another Rocky Day*
The stock market ended a second straight day of turbulent trading with more losses Friday, but managed to recoup some lost ground by the end of the day.
By Associated Press, Wire Service Content Sept. 4, 2020, at 5:33 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

The stock market closed out its worst week in more than two months Friday as a second straight day of turbulent trading ended with more losses.

The S&P 500 fell 0.8%, although the index did claw most of the way back from a 3.1% skid earlier in the day. A slide in technology stocks again did much of the damage.

The two-day sell-off came after the S&P 500 set new highs earlier in the week and had its best day in nearly two months. There wasn’t a particular catalyst for continued selling in the high-flying tech sector, but analysts noted that those stocks had posted gigantic gains so far this year that many thought were overdone.

“We had a fast and furious rally at the end of August and we’ve given it back,” said Barry Bannister, head of institutional equity strategy at Stifel. “Investors are like a herd of gazelle on the Serengeti; it doesn’t take much to spook them. They’re alarmed and on the move.”

The selling followed a Labor Department report showing that U.S. hiring slowed to 1.4 million last month, the fewest jobs added since the economy started bouncing back from the initial shock of the pandemic, even as the nation's unemployment rate improved to 8.4% from 10.2%. The U.S. economy has recovered about half the 22 million jobs lost to the pandemic.

The S&P 500 fell 28.10 points to 3,426.96. The Dow Jones Industrial Average lost 159.42 points, or 0.6%, to 28,133.31. The index had swung sharply during the day, between a loss of as much as 628 points and a gain of as much as 247.

The technology-heavy Nasdaq dropped 144.97 points, or 1.3%, to 11,313.13. The slide added to the index's 5% skid from the day before.

The VIX, a gauge of how much volatility investors expect in the market, has been rising. Even so, traders were not shifting funds into traditional safe-haven assets like U.S. government bonds and precious metals, a sign that the sell-off was not necessarily a reaction to jitters about the economy.

“A lot of people were piling into the (tech) trade and there are a lot of gains to be made," said Stephanie Roth, portfolio macro analyst at J.P. Morgan Private Bank. "This is more an instance of profit-taking, rather than true panic.”

She noted it's not unusual for traders to pocket recent gains ahead of a holiday weekend. U.S. markets will be closed Monday for Labor Day.

The 10-year Treasury yield rose to 0.72%, up from 0.62% late Thursday, a big move. The higher yields helped send financial stocks higher, since banks can lend money at higher rates once yields rise in the bond market. Capital One Financial rose 4.7%

Thursday’s sell-off followed a euphoric rise in recent weeks led by big technology stocks. Investors have been betting technology companies will keep making huge profits as people spend even more time online with their devices during the pandemic, making new market darlings of companies like Zoom Video Communications as many Americans work remotely and students do online learning.

Some of the tech high flyers racked up more losses Friday. Nvidia fell 3%, though the chipmaker is still up more than twofold this year.

Apple was down for much of the day before ending with only a 0.1% gain, Amazon dropped 2.2% and Zoom fell 3%. And yet, Apple is still up 64.8% this year, while Amazon is up 78.3%. And Zoom is up more than 443% for the year. Even with this week's pullback, technology is up 28.8% this year, well ahead of the S&P 500's 10 other sectors.

“The tech gains were so far, so quick that it was almost concerning, so the reversal of that is natural volatility," Roth said. “We should expect to see some larger corrections.”

Despite this week's stumble, the S&P 500 is up 6.1% for the year following a five-month comeback from its lows in the spring. The Nasdaq, meanwhile, is up 26.1% for the year. The market's turnaround has been driven by low interest rates, massive amounts of spending on bond purchases by the Federal Reserve and other central banks, and encouraging economic trends as businesses have begun to reopen.

Many investors are also betting that a coronavirus vaccine will arrive later this year and clear the way for a recovery for the economy and corporate profits. Hopes also remain that Congress and the White House will come up with another economic relief package.

“Unless Congress agrees to spend more money to stimulate the economy and close the output gap, it’s very hard for us to grow,” Bannister said.

Stock indexes in Europe fell, shedding early gains. Markets in China also closed broadly lower.

446


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## bigdog

*NYSE closed for Monday September 7 Labor Day Holiday

ASX 200 to drop lower gain.*
It looks set to be another disappointing day of trade for the ASX 200 index. According to the latest SPI futures, the benchmark index is expected to open the day 36 points or 0.6% lower this morning. This follows a poor end to the week on Wall Street, which saw the Dow Jones fall 0.55%, the S&P 500 drop 0.8%, and the Nasdaq index tumble 1.3% lower.


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## bigdog

*NYSE closed for Monday September 7 Labor Day Holiday*

European stocks rallied on Monday after a mixed close in Asia, while Wall Street remained closed for Labor Day after turning in its biggest weekly decline in more than two months.

Investors have been encouraged by hopes for a coronavirus vaccine and central bank infusions of cash into struggling economies. But forecasters warn the rise in prices might be outrunning uncertain economic activity as case numbers rise in the United States and some other countries. Some are re-imposing anti-disease controls that disrupt business.

“The question now is whether there will be a sustained unwinding in this frothy market, or if conviction about fresh central bank liquidity and fear of missing out kicks in once again,” analysts at Mizuho Bank said in a report.

One possible sign the decline might be temporary: demand for government bonds and other assets considered safe havens in an extended down market “has not come flooding back in," the analysts said.

In Europe, the FTSE 100 in London rose 2.4% to close at 5,937.40 and Frankfurt's DAX added 2% to 13,100.28 after industrial production figures showed a third consecutive monthly increase. The CAC 40 in Paris rose 1.8% to 5,053.72.

U.S. trading in stocks was due to remain shut for the holiday. On Friday, the S&P 500 slid 0.8%. The Dow lost 0.6% and the tech-heavy Nasdaq dropped 1.3%.

In Asia, the Shanghai Composite Index lost 1.8% to 3,292.59 after Chinese customs data showed August export growth accelerated to 9.5% over a year earlier while imports edged lower.

Shares in China’s most advanced semiconductor manufacturer, SMIC, fell 22.9% in Hong Kong following news that Washington is considering limiting its access to U.S. manufacturing technology. The company has denied suggestions it assists China’s military development.

The Nikkei 225 in Tokyo shed 0.5% to 23,089.95 while the Hang Seng in Hong Kong lost 0.4% to 24,589.65.

*ASX 200 futures pointing higher.*
The ASX 200 index looks set to push higher again on Tuesday. According to the latest SPI futures, the benchmark index is expected rise 38 points or 0.65% at the open. This follows a very positive start to the week on European markets. The DAX rose 2% and the FTSE jumped 2.4% during overnight trade. Wall Street was closed for the Labor Day holiday.

*NYSE closed for Monday September 7 Labor Day Holiday*















https://www.usnews.com/news/busines...global-markets-mixed-after-wall-street-slides

*Stocks Rally in Europe, US Trading Closed for Holiday*
European stock markets have closed with strong gains after a more subdued day in Asia.
By Associated Press, Wire Service Content Sept. 7, 2020, at 12:07 p.m. 

By JOE McDONALD, AP Business Writer

BEIJING (AP) — European stocks rallied on Monday after a mixed close in Asia, while Wall Street remained closed for Labor Day after turning in its biggest weekly decline in more than two months.

Investors have been encouraged by hopes for a coronavirus vaccine and central bank infusions of cash into struggling economies. But forecasters warn the rise in prices might be outrunning uncertain economic activity as case numbers rise in the United States and some other countries. Some are re-imposing anti-disease controls that disrupt business.

“The question now is whether there will be a sustained unwinding in this frothy market, or if conviction about fresh central bank liquidity and fear of missing out kicks in once again,” analysts at Mizuho Bank said in a report.

One possible sign the decline might be temporary: demand for government bonds and other assets considered safe havens in an extended down market “has not come flooding back in," the analysts said.

In Europe, the FTSE 100 in London rose 2.4% to close at 5,937.40 and Frankfurt's DAX added 2% to 13,100.28 after industrial production figures showed a third consecutive monthly increase. The CAC 40 in Paris rose 1.8% to 5,053.72.

U.S. trading in stocks was due to remain shut for the holiday. On Friday, the S&P 500 slid 0.8%. The Dow lost 0.6% and the tech-heavy Nasdaq dropped 1.3%.

In Asia, the Shanghai Composite Index lost 1.8% to 3,292.59 after Chinese customs data showed August export growth accelerated to 9.5% over a year earlier while imports edged lower.

Shares in China’s most advanced semiconductor manufacturer, SMIC, fell 22.9% in Hong Kong following news that Washington is considering limiting its access to U.S. manufacturing technology. The company has denied suggestions it assists China’s military development.

The Nikkei 225 in Tokyo shed 0.5% to 23,089.95 while the Hang Seng in Hong Kong lost 0.4% to 24,589.65.

The Kospi in Seoul advanced 0.7% to 2,384.42 while Sydney’s S&P-ASX 200 shed 0.3% to 5,944.80.

Wall Street’s slide on Friday followed a Labor Department report that showed U.S. hiring slowed to 1.4 million last month. That was fewest jobs added since the economy started bouncing back from the initial shock of the pandemic. The United States has recovered about half the 22 million jobs lost to the pandemic.

In energy markets, benchmark U.S. crude oil for October delivery fell 70 cents to $39.07 per barrel in electronic trading on the New York Mercantile Exchange. The contract lost $1.60 to $39.77 on Friday. Brent crude for November delivery, the international standard, declined 67 cents to $41.99 per barrel in London. It shed $1.41 the previous session to $42.66.

The dollar edged up to 106.31 yen from 106.21 yen on Friday. The euro fell to $1.1818 from $1.1852.


----------



## bigdog

Big technology stocks tumbled again on Tuesday, continuing the Icarus-like flight path for companies that just a week ago were the high-flyers carrying Wall Street to record heights.

The S&P 500 fell 95.12, or 2.8%, to 3,331.84 and clinched its first three-day losing streak in nearly three months. Big names that were the main reasons for the market’s rocket ride back from its pandemic-caused losses were among the heaviest weights. Apple sank 6.7%, Microsoft pulled 5.4% lower and tech stocks across the index were down 4.6%.

The Dow Jones Industrial Average lost 632.42 points, or 2.2%, to 27,500.89. The Nasdaq composite, which is packed with tech stocks, dropped 465.44, or 4.1%, to 10,847.69 and is down 10% since it set its latest record on Wednesday.

Tech stocks had been the darlings of Wall Street on expectations that they can continue to deliver strong profit growth almost regardless of the economy and global health. Tech stocks in the S&P 500 are still up nearly 23% for 2020 so far, and Amazon has rocketed 70.5%, even when unemployment remains high and much of the economy is limping ahead.

Analysts say a flurry of activity for stock options of Big Tech companies goosed the gains even further recently. With certain kinds of options, investors can make huge profits on a stock, without having to pay for its full share price, as long as the stock’s price keeps rising. If enough of these kinds of stock options are getting sold, it can create a buying frenzy for the stock that accelerates the gains even more.

But all that activity can unwind quickly and send prices tumbling if momentum turns, which is what happened last week. Apple stock dropped 3.1% for just its second weekly loss in the last 14 weeks. It's lost 14.1% over the last three days.

Critics have long been saying that big technology stocks had shot too high, even after accounting for their strong profit growth. Such high-growth stocks have been trouncing the performance of stocks that look like better bargains, which are called “value stocks” by investors, by margins wide enough to raise eyebrows along Wall Street.

“The growth versus value outperformance was at an unheard of extreme at the end of August,” said Sam Stovall, chief investment strategist at CFRA.

That gap began to narrow on Thursday, when tech stocks began cracking and the Dow fell more than 800 points, and that “showed investors that tech stocks and growth stocks can fall just as easily as they rise,” Stovall said.

“It’s a reminder that we’re still in 2020,” said Willie Delwiche, investment strategist at Baird. “The degree of selling we’ve seen the past few days is just a reminder that volatility is still around.”

The trigger for last week’s turnaround may have been expectations that longer-term interest rates will rise, according to strategists at Morgan Stanley. Low rates often act like steroids for stocks, encouraging investors to pay higher prices for stocks relative to corporate profits, which can benefit high-growth stocks in particular.

The yield on the 10-year Treasury fell to 0.67% from 0.72% late Friday. But it’s notably higher than the 0.53% it was offering at the end of July.

Tesla has been one of the brightest examples of Big Tech’s wild movements, and it surged 74.1% in August alone. It slumped 21.1% Tuesday, its worst loss since it began trading a decade ago, amid disappointment that it won’t be joining the S&P 500 anytime soon.

The company behind the S&P 500 announced the inclusion of several companies in the benchmark index, including Etsy. Some investors thought Tesla would be among them, which can create huge bouts of buying as index funds automatically fold the stock into their portfolios.

The big question for the stock market is whether the losses can stay mostly confined to the tech area, which had been soaring so quickly earlier and looked to be the most expensive part of the market.

*ASX 200 expected to sink lower.*
The ASX 200 looks set to give back yesterday’s gains and more on Wednesday after a disappointing start to the week on Wall Street. According to the latest SPI futures, the benchmark index is expected to sink 96 points or 1.6% lower at the open. Wall Street returned from the Labor day holiday and saw the Dow Jones fall 2%, the S&P 500 drop 2.6%, and the Nasdaq crash 4%. Tesla shares were particularly poor performers, sinking 20% lower.











https://www.usnews.com/news/busines...se-as-us-set-to-reopen-from-labor-day-holiday

*Tech’s Sudden Sell-Off Continues; Nasdaq Sinks 10% in 3 Days*
Big technology stocks tumbled again on Tuesday, continuing the Icarus-like flight path for companies that just a week ago were the high-flyers carrying Wall Street to record heights.
By Associated Press, Wire Service Content Sept. 8, 2020, at 5:36 p.m. 

By STAN CHOE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Big technology stocks tumbled again on Tuesday, continuing the Icarus-like flight path for companies that just a week ago were the high-flyers carrying Wall Street to record heights.

The S&P 500 fell 95.12, or 2.8%, to 3,331.84 and clinched its first three-day losing streak in nearly three months. Big names that were the main reasons for the market’s rocket ride back from its pandemic-caused losses were among the heaviest weights. Apple sank 6.7%, Microsoft pulled 5.4% lower and tech stocks across the index were down 4.6%.

The Dow Jones Industrial Average lost 632.42 points, or 2.2%, to 27,500.89. The Nasdaq composite, which is packed with tech stocks, dropped 465.44, or 4.1%, to 10,847.69 and is down 10% since it set its latest record on Wednesday.

Tech stocks had been the darlings of Wall Street on expectations that they can continue to deliver strong profit growth almost regardless of the economy and global health. Tech stocks in the S&P 500 are still up nearly 23% for 2020 so far, and Amazon has rocketed 70.5%, even when unemployment remains high and much of the economy is limping ahead.

Analysts say a flurry of activity for stock options of Big Tech companies goosed the gains even further recently. With certain kinds of options, investors can make huge profits on a stock, without having to pay for its full share price, as long as the stock’s price keeps rising. If enough of these kinds of stock options are getting sold, it can create a buying frenzy for the stock that accelerates the gains even more.

But all that activity can unwind quickly and send prices tumbling if momentum turns, which is what happened last week. Apple stock dropped 3.1% for just its second weekly loss in the last 14 weeks. It's lost 14.1% over the last three days.

Critics have long been saying that big technology stocks had shot too high, even after accounting for their strong profit growth. Such high-growth stocks have been trouncing the performance of stocks that look like better bargains, which are called “value stocks” by investors, by margins wide enough to raise eyebrows along Wall Street.

“The growth versus value outperformance was at an unheard of extreme at the end of August,” said Sam Stovall, chief investment strategist at CFRA.

That gap began to narrow on Thursday, when tech stocks began cracking and the Dow fell more than 800 points, and that “showed investors that tech stocks and growth stocks can fall just as easily as they rise,” Stovall said.

“It’s a reminder that we’re still in 2020,” said Willie Delwiche, investment strategist at Baird. “The degree of selling we’ve seen the past few days is just a reminder that volatility is still around.”

The trigger for last week’s turnaround may have been expectations that longer-term interest rates will rise, according to strategists at Morgan Stanley. Low rates often act like steroids for stocks, encouraging investors to pay higher prices for stocks relative to corporate profits, which can benefit high-growth stocks in particular.

The yield on the 10-year Treasury fell to 0.67% from 0.72% late Friday. But it’s notably higher than the 0.53% it was offering at the end of July.

Tesla has been one of the brightest examples of Big Tech’s wild movements, and it surged 74.1% in August alone. It slumped 21.1% Tuesday, its worst loss since it began trading a decade ago, amid disappointment that it won’t be joining the S&P 500 anytime soon.

The company behind the S&P 500 announced the inclusion of several companies in the benchmark index, including Etsy. Some investors thought Tesla would be among them, which can create huge bouts of buying as index funds automatically fold the stock into their portfolios.

The big question for the stock market is whether the losses can stay mostly confined to the tech area, which had been soaring so quickly earlier and looked to be the most expensive part of the market.

“How resilient can the stocks beneath the surface be?” said Delwiche. “If they hold up, that would fit with a healthy correction,” which is what traders call a drop of 10% for the market and can mark a short-term breather for stocks in the midst of an upward run.

“If they don’t, then it could be something more significant.”

Beyond the tech stock slump, other worries are also hanging over the stock market, which had been setting record highs just last week.

Pessimism is rising that Democrats and Republicans in Washington will be able to find a deal to send more aid to unemployed workers and an economy still struggling amid the pandemic. Investors have been largely assuming that a deal would eventually pass, but recent talks between government leaders have yielded no progress.

President Donald Trump is also talking about “decoupling” the U.S. economy from China, as the presidential campaign heats up. The relationship between the world’s two largest economies has been on edge for years, and all the uncertainty threatens to exacerbate the global economy’s already shaky standing.

Energy stocks had some of Wall Street’s sharpest drops as the price of oil tumbled. Apache lost 10.7%, and Diamondback Energy fell 10% after benchmark U.S. crude sank $3.01 to $36.76 per barrel. Brent crude, the international standard, lost $2.23 to $39.78.

But the market's losses were widespread, with nearly 90% of the stocks in the S&P 500 lower.

Among the few gainers was General Motors. It rose 7.9% after it said it’s taking an ownership stake in electric-vehicle company Nikola, which itself surged 40.8%.

European stock markets sank, following modest gains in Asia.


----------



## bigdog

Wall Street snapped back to life on Wednesday, recovering from its worst stretch of losses in months, as the bloodletting for big technology stocks came to at least a temporary halt.

Apple, Amazon and other tech companies that suddenly lost their momentum late last week on worries their stocks soared too high all regained some ground. They helped the S&P 500 rally 67.12, or 2%, to 3,398.96. It was the best day in three months for the index, which recovered a little more than a quarter of its losses from the prior three days.

The Dow Jones Industrial Average climbed 439.58, or 1.6%, to 27,940.47. The Nasdaq composite, which includes many tech stocks, rose 293.87, or 2.7%, to 11,141.56. It had dropped 10% over the previous three days.

Tesla, which has made some of the wildest moves in recent months, rose 10.9%. A day earlier, it plunged 21.1% for its worst day since its shares began trading a decade ago. In August, it surged 74.1%.

Selling over the last week in the market had focused on such tech superstars, which earlier zoomed through the pandemic amid expectations that they would benefit from the new stay-at-home economy. Blockbuster spring profit reports from many of them emboldened investors, who bid their stock prices up to levels that critics called too expensive, even after accounting for their powerful growth.

A flurry of buying of stock options for big tech stocks may have helped further goose the gains, analysts say.

That helped the S&P 500 and Nasdaq push repeatedly to record highs as recently as last week, even though the economy is still struggling with the coronavirus pandemic. But the fever broke on Thursday, with the S&P 500 dropping 7% in three days, its steepest loss over such a timeframe in nearly three months.

“The fact is that there was a broad consensus that it was overbought, and the rally was overextended and due for some sort of pullback,” said Quincy Krosby, chief market strategist at Prudential Financial.

Still to be determined is whether the sell-off was just a blowing-off of some steam for tech stocks that had gotten overheated — or whether it was the beginning of a more widespread downturn.

It doesn’t help that September is traditionally a weak month for stocks, Krosby said. “Is this the pause, or are we due for more selling?”

Other sectors didn’t get as expensive as technology during the recent run-up. Banks and other financial stocks in the S&P 500 are still down more than 19% for 2020 so far, for example. But challenges continue to loom over the entire market, including uncertainty about how the pandemic will progress.

Trade issues remain a worry for markets, and the souring U.S.-China relationship gets the brightest spotlight. But that’s not the only potential hot spot.

*ASX 200 expected to rebound.*
It looks set to be a much better day for the ASX 200 on Thursday after Wall Street rebounded overnight. According to the latest SPI futures, the benchmark index is expected to jump 78 points or 1.3% higher at the open. On Wall Street the Dow Jones rose 1.6%, the S&P 500 climbed 2%, and the Nasdaq stormed 2.7% higher.











https://apnews.com/573d0dff1743879a6b78dab432d920ed

*Stocks bounce back on Wall Street as tech bloodletting halts*
By STAN CHOE, ALEX VEIGA and DAMIAN J. TROISE

NEW YORK (AP) — Wall Street snapped back to life on Wednesday, recovering from its worst stretch of losses in months, as the bloodletting for big technology stocks came to at least a temporary halt.

Apple, Amazon and other tech companies that suddenly lost their momentum late last week on worries their stocks soared too high all regained some ground. They helped the S&P 500 rally 67.12, or 2%, to 3,398.96. It was the best day in three months for the index, which recovered a little more than a quarter of its losses from the prior three days.

The Dow Jones Industrial Average climbed 439.58, or 1.6%, to 27,940.47. The Nasdaq composite, which includes many tech stocks, rose 293.87, or 2.7%, to 11,141.56. It had dropped 10% over the previous three days.

Tesla, which has made some of the wildest moves in recent months, rose 10.9%. A day earlier, it plunged 21.1% for its worst day since its shares began trading a decade ago. In August, it surged 74.1%.

Selling over the last week in the market had focused on such tech superstars, which earlier zoomed through the pandemic amid expectations that they would benefit from the new stay-at-home economy. Blockbuster spring profit reports from many of them emboldened investors, who bid their stock prices up to levels that critics called too expensive, even after accounting for their powerful growth.

A flurry of buying of stock options for big tech stocks may have helped further goose the gains, analysts say.

That helped the S&P 500 and Nasdaq push repeatedly to record highs as recently as last week, even though the economy is still struggling with the coronavirus pandemic. But the fever broke on Thursday, with the S&P 500 dropping 7% in three days, its steepest loss over such a timeframe in nearly three months.

“The fact is that there was a broad consensus that it was overbought, and the rally was overextended and due for some sort of pullback,” said Quincy Krosby, chief market strategist at Prudential Financial.

Still to be determined is whether the sell-off was just a blowing-off of some steam for tech stocks that had gotten overheated — or whether it was the beginning of a more widespread downturn.

It doesn’t help that September is traditionally a weak month for stocks, Krosby said. “Is this the pause, or are we due for more selling?”

Other sectors didn’t get as expensive as technology during the recent run-up. Banks and other financial stocks in the S&P 500 are still down more than 19% for 2020 so far, for example. But challenges continue to loom over the entire market, including uncertainty about how the pandemic will progress.

Trade issues remain a worry for markets, and the souring U.S.-China relationship gets the brightest spotlight. But that’s not the only potential hot spot.

Tiffany lost 6.4% after European luxury giant LVMH ended  its $14.5 billion takeover deal for the jewelry retailer. LVMH said it made the move in part because the French government requested a delay due to the threat of proposed U.S. tariffs on French products.

Investors are also waiting for Congress to deliver more aid to the economy after unemployment benefits and other stimulus that it approved earlier ran out. Investors say it’s critical that the economy get such stimulus, but partisan disagreements have Congress at an apparent impasse.

A Senate vote this week on a trimmed-down relief package proposed by Republicans has only a slim chance of passage as Democrats insist on more sweeping aid.

The stock market’s rally started in late March following massive amounts of aid from the Federal Reserve and Congress. It accelerated as the economy showed signs of improvement. Corporate profit reports for the spring that weren’t as disastrous as expected also helped lift the market.

Late Tuesday, Slack Technologies also reported what analysts called a good quarter, with revenue topping expectations. But the company reported billings that were weaker than expected, and its stock tumbled 13.9%.

Hopes for a potential COVID-19 vaccine also helped the S&P 500 erase all of its nearly 34% loss from earlier in the pandemic. U.S-listed shares of AstraZeneca slipped 2% Wednesday, though, after it put late-stage studies of its vaccine candidate on temporary hold while it investigates whether a recipient’s illness is a side effect of the shot.

Treasury yields ticked higher, with the 10-year yield rising to 0.69% from 0.68% late Tuesday.

Crude oil clawed back some of its slide from the prior day. Benchmark U.S. crude rose $1.29 to settle at $38.05 per barrel. Brent crude, the international standard, added $1.01 to $40.79 per barrel.

European stocks closed higher, while Asian markets fell.


----------



## bigdog

Technology and energy companies led a broad sell-off on Wall Street Thursday that wiped out nearly all of the market's gains from a strong rally the day before.

The S&P 500 lost 1.8% after having been up briefly by 0.8% in the early going. The slide cut deeply into the benchmark index's 2% gain on Wednesday. The latest gyrations follow a wild stretch where the S&P 500 careened from its worst three-day slump since June to its best day in nearly three months.

Tech stocks accounted for the biggest share of the broad sell-off. The sector has been at the center of the market’s swings, hurt by criticism that their recession-defying surge in recent months was overdone. The Nasdaq, which is full of tech stocks, slumped 10% from last Thursday through Tuesday and recovered for a 2.7% gain Wednesday. It lost most of that ground Thursday, falling 2% after shedding an early gain.

Health care stocks and companies that rely on consumer spending also took hefty losses. Energy companies fell the most as the price of U.S. crude oil prices dropped 2%. Treasury yields also fell, a sign of caution in the market. The price of gold rose 0.5%.

The market will likely lack any solid direction for the next few months as investors weigh several key issues, said Rod von Lipsey, managing director at UBS Private Wealth Management.

“Two things everybody is waiting for: Who is going to win the election, and are we going to find a vaccine for the virus?” he said. “Those two questions are impossible for us to answer in this particular quarter.”

The S&P 500 fell 59.77 points to 3,339.19, its fourth decline in five days. The index is on pace for its second straight weekly loss. The Dow Jones Industrial Average dropped 405.89 points, or 1.5%, to 27,534.58. The Nasdaq gave up 221.97 points to 10,919.59. The Russell 2000 index of smaller company stocks lost 18.73 points, or 1.2%, to 1,507.75.

Thursday’s selling followed a batch of new economic data on jobs and wholesale prices. The government said that 884,000 workers applied for unemployment benefits last week. The number was flat from last week’s number, which was revised higher, and it’s the lowest it’s been since the number of layoffs began exploding in March due to the coronavirus pandemic.

But the tally was still higher than economists expected, and it’s an indication that layoffs remain stuck at a dispiritingly high level. Economists called the report disappointing.

A separate report showed that inflation remains very weak at the wholesale level, though it was stronger last month than economists had forecast. The Federal Reserve has said that it’s willing to allow inflation to run higher than its target level before raising interest rates, if inflation had been too low before that. That’s key for investors because low rates can boost stock prices.

Von Lipsey said big investors are either waiting on the sidelines or in a neutral position on expectations that markets will stay volatile through the uncertainty.

“We’re not all sure where the economy is going to head from here,” he said.

Treasury yields initially held up following the release of the economic reports, but then turned lower by mid-afternoon. The yield on the 10-year note fell to 0.68% from 0.70% late Wednesday.

The market’s focus continues to be on big technology stocks, in large part because they’ve grown so big that their movements can move broad market indexes almost by themselves. Apple, Microsoft, Amazon, Facebook and Google’s parent company alone account for 23% of the S&P 500, for example.

Many analysts say the recent tumult for technology stocks isn’t that surprising given how high they had soared. Apple more than doubled in less than five months through the pandemic, Tesla surged 74.1% last month alone and Zoom Video Communications earlier this month was up nearly 573% for 2020.

*ASX 200 poised to slide lower.*
The ASX 200 looks set to end the week on a disappointing note. According to the latest SPI futures, the benchmark index is expected to slide 78 points or 1.3% lower at the open. This follows a poor night of trade on Wall Street which saw the Dow Jones fall 1.45%, the S&P 500 drop 1.75%, and the Nasdaq tumble 2% lower.










https://www.usnews.com/news/busines...in-after-wall-street-rebounds-from-tech-slump

*US Stocks Turn Lower Again as a Wild Trading Week Continues*
Stocks gave up an early gain and moved steadily lower all day, erasing nearly all of a rally from a day earlier and extending their losses for the week.
By Associated Press, Wire Service Content Sept. 10, 2020, at 5:03 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

. (AP) — Technology and energy companies led a broad sell-off on Wall Street Thursday that wiped out nearly all of the market's gains from a strong rally the day before.

The S&P 500 lost 1.8% after having been up briefly by 0.8% in the early going. The slide cut deeply into the benchmark index's 2% gain on Wednesday. The latest gyrations follow a wild stretch where the S&P 500 careened from its worst three-day slump since June to its best day in nearly three months.

Tech stocks accounted for the biggest share of the broad sell-off. The sector has been at the center of the market’s swings, hurt by criticism that their recession-defying surge in recent months was overdone. The Nasdaq, which is full of tech stocks, slumped 10% from last Thursday through Tuesday and recovered for a 2.7% gain Wednesday. It lost most of that ground Thursday, falling 2% after shedding an early gain.

Health care stocks and companies that rely on consumer spending also took hefty losses. Energy companies fell the most as the price of U.S. crude oil prices dropped 2%. Treasury yields also fell, a sign of caution in the market. The price of gold rose 0.5%.

The market will likely lack any solid direction for the next few months as investors weigh several key issues, said Rod von Lipsey, managing director at UBS Private Wealth Management.

“Two things everybody is waiting for: Who is going to win the election, and are we going to find a vaccine for the virus?” he said. “Those two questions are impossible for us to answer in this particular quarter.”

The S&P 500 fell 59.77 points to 3,339.19, its fourth decline in five days. The index is on pace for its second straight weekly loss. The Dow Jones Industrial Average dropped 405.89 points, or 1.5%, to 27,534.58. The Nasdaq gave up 221.97 points to 10,919.59. The Russell 2000 index of smaller company stocks lost 18.73 points, or 1.2%, to 1,507.75.

Thursday’s selling followed a batch of new economic data on jobs and wholesale prices. The government said that 884,000 workers applied for unemployment benefits last week. The number was flat from last week’s number, which was revised higher, and it’s the lowest it’s been since the number of layoffs began exploding in March due to the coronavirus pandemic.

But the tally was still higher than economists expected, and it’s an indication that layoffs remain stuck at a dispiritingly high level. Economists called the report disappointing.

A separate report showed that inflation remains very weak at the wholesale level, though it was stronger last month than economists had forecast. The Federal Reserve has said that it’s willing to allow inflation to run higher than its target level before raising interest rates, if inflation had been too low before that. That’s key for investors because low rates can boost stock prices.

Von Lipsey said big investors are either waiting on the sidelines or in a neutral position on expectations that markets will stay volatile through the uncertainty.

“We’re not all sure where the economy is going to head from here,” he said.

Treasury yields initially held up following the release of the economic reports, but then turned lower by mid-afternoon. The yield on the 10-year note fell to 0.68% from 0.70% late Wednesday.

The market’s focus continues to be on big technology stocks, in large part because they’ve grown so big that their movements can move broad market indexes almost by themselves. Apple, Microsoft, Amazon, Facebook and Google’s parent company alone account for 23% of the S&P 500, for example.

Many analysts say the recent tumult for technology stocks isn’t that surprising given how high they had soared. Apple more than doubled in less than five months through the pandemic, Tesla surged 74.1% last month alone and Zoom Video Communications earlier this month was up nearly 573% for 2020.

While Big Tech is indeed benefiting from the shift to online life that the pandemic and ensuing stay-at-home economy has accelerated, critics said their stocks prices simply shot too high. This past week’s sell-off blew off some of that steam, but analysts question how much selling is left in the pipeline.

Apple rose as much as 2.7% Thursday morning, but lost its gains and closed 3.3% lower. Tesla rose 1.4%, while Zoom slid 1.3%.

The selling comes as the odds grow longer that Congress will be able to deliver more aid to the economy before November's elections, support that many investors say is crucial after federal unemployment benefits and other stimulus expired. Partisan disagreements on Capitol Hill have kept Congress at a seeming impasse. On Thursday, Democrats blocked a Republican bill that they said shortchanged pressing national needs. It’s unclear whether bipartisan talks on a bill will resume.

Quest Diagnostics rose 3.2% after it raised its forecasts for sales and profits this year. Energy producers were among the biggest decliners. Occidental Petroleum fell 7.9%, and Devon Energy dropped 7.4%.

European stock markets closed mostly lower. The German DAX lost 0.2%, and the French CAC 40 fell 0.4%. The FTSE 100 in London dropped 0.2%. Asian markets finished mixed.


----------



## bigdog

Wall Street closed out its worst week since June with another day of churning trading Friday, as big technology stocks resumed their suddenly weakened ways.

The S&P 500 rose 1.78, or 0.1%, to 3,340.97, but only after a roller-coaster day where a gain of 0.9% gave way to a loss of 0.9%. It kept swinging up and down after that, the latest examples of the lightning-quick shifts in momentum that have rocked Wall Street recently. Through the tumultuous week, the S&P 500 lost 2.5% to clinch its its first back-to-back weekly loss in four months.

The Nasdaq composite, which includes many of the superstar tech stocks that have been the focus of the market’s recent selling, lost 66.05, or 0.6%, to 10,853.55 after also flip-flopping between gains and losses. Its 4.1% drop for the week was its worst since market panic was peaking about the coronavirus and stocks hit a bottom in late March.

The Dow Jones Industrial Average rose 131.06, or 0.5%, to 27,665.64, but not before careening between a gain of 294 points and a loss of 86 points.

Analysts expect swings to continue to rattle markets for weeks, if not months, as investors wait for more clarity on several key issues. At the head of the list of uncertainties is what to do with Big Tech stocks, which critics have long said were due for a slide after soaring too high through the summer.

“The technology sell-off continues,” said Phil Orlando, chief equity market strategist at Federated Hermes. “We don’t think this is anything more than a technical pullback that’s cleansing. It’s healthy and was anticipated.”

Apple, Amazon and others soared through the pandemic as their businesses boomed despite the recession. The coronavirus accelerated a shift to online life that’s benefited them, and a pile-on of investors into Big Tech sent their share prices soaring to levels that critics said were overvalued.

Apple had a nearly irrepressible run this summer where it rose in 12 out of 13 weeks. Zoom Video Communications surged above $450 per share earlier this month after starting the year at less than $70.

That all came to an abrupt halt last week. Worries that the stocks had gotten overheated helped send the S&P 500 to its worst three-day run in nearly three months, and the Nasdaq composite slid 10%. Tech stocks recovered a bit on Wednesday, and they seemed to regain their stride Thursday morning, only for an afternoon swoon to batter them again.

On Friday, tech stocks again swung from gains to losses. The fluctuations came even after Oracle reported stronger profit for its latest quarter than analysts expected. After leaping as much as 7.9% in the morning, its stock slipped 0.6%.

Big Tech and the high-growth area of the stock market "just got ahead of itself,” said Jason Pride, chief investment officer of private wealth at Glenmede. “It doesn’t matter how it got there, it matters that it got there and now we’re kind of deflating that overvaluation a little bit.”

After rising as much as 1.5% shortly after trading began, Apple fell back to a loss of 1.3%. It dropped 7.4% over the week, its worst since March. Movements for it and other Big Tech stocks matter more than ever for broad market indexes because their immense size means they can influence the S&P 500 almost by themselves. Five Big Tech companies make up nearly 23% of the index’s entire value.

One big factor that remains in the stock market’s favor is the Federal Reserve, which continues to pump aid into the economy. It has slashed short-term interest rates to record lows and bought up all kinds of bonds to support markets. It also said recently it will keep delivering stimulus even if inflation rises above its target level, as long as inflation had been well under it before then.

A report on Friday showed that inflation remains low, though it was higher than economists expected. Consumer prices rose 1.3% in August from a year earlier, a shade above the 1.2% that investors were expecting.










https://www.usnews.com/news/busines...mixed-after-another-wall-street-tech-sell-off

*Tech Falters Again as Wall Street Ends Worst Week in Months*
Wall Street closed out its worst week since June with another day of churning trading Friday.
By Associated Press, Wire Service Content Sept. 11, 2020, at 4:37 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

NEW YORK (AP) — Wall Street closed out its worst week since June with another day of churning trading Friday, as big technology stocks resumed their suddenly weakened ways.

The S&P 500 rose 1.78, or 0.1%, to 3,340.97, but only after a roller-coaster day where a gain of 0.9% gave way to a loss of 0.9%. It kept swinging up and down after that, the latest examples of the lightning-quick shifts in momentum that have rocked Wall Street recently. Through the tumultuous week, the S&P 500 lost 2.5% to clinch its its first back-to-back weekly loss in four months.

The Nasdaq composite, which includes many of the superstar tech stocks that have been the focus of the market’s recent selling, lost 66.05, or 0.6%, to 10,853.55 after also flip-flopping between gains and losses. Its 4.1% drop for the week was its worst since market panic was peaking about the coronavirus and stocks hit a bottom in late March.

The Dow Jones Industrial Average rose 131.06, or 0.5%, to 27,665.64, but not before careening between a gain of 294 points and a loss of 86 points.

Analysts expect swings to continue to rattle markets for weeks, if not months, as investors wait for more clarity on several key issues. At the head of the list of uncertainties is what to do with Big Tech stocks, which critics have long said were due for a slide after soaring too high through the summer.

“The technology sell-off continues,” said Phil Orlando, chief equity market strategist at Federated Hermes. “We don’t think this is anything more than a technical pullback that’s cleansing. It’s healthy and was anticipated.”

Apple, Amazon and others soared through the pandemic as their businesses boomed despite the recession. The coronavirus accelerated a shift to online life that’s benefited them, and a pile-on of investors into Big Tech sent their share prices soaring to levels that critics said were overvalued.

Apple had a nearly irrepressible run this summer where it rose in 12 out of 13 weeks. Zoom Video Communications surged above $450 per share earlier this month after starting the year at less than $70.

That all came to an abrupt halt last week. Worries that the stocks had gotten overheated helped send the S&P 500 to its worst three-day run in nearly three months, and the Nasdaq composite slid 10%. Tech stocks recovered a bit on Wednesday, and they seemed to regain their stride Thursday morning, only for an afternoon swoon to batter them again.

On Friday, tech stocks again swung from gains to losses. The fluctuations came even after Oracle reported stronger profit for its latest quarter than analysts expected. After leaping as much as 7.9% in the morning, its stock slipped 0.6%.

Big Tech and the high-growth area of the stock market "just got ahead of itself,” said Jason Pride, chief investment officer of private wealth at Glenmede. “It doesn’t matter how it got there, it matters that it got there and now we’re kind of deflating that overvaluation a little bit.”

After rising as much as 1.5% shortly after trading began, Apple fell back to a loss of 1.3%. It dropped 7.4% over the week, its worst since March. Movements for it and other Big Tech stocks matter more than ever for broad market indexes because their immense size means they can influence the S&P 500 almost by themselves. Five Big Tech companies make up nearly 23% of the index’s entire value.

One big factor that remains in the stock market’s favor is the Federal Reserve, which continues to pump aid into the economy. It has slashed short-term interest rates to record lows and bought up all kinds of bonds to support markets. It also said recently it will keep delivering stimulus even if inflation rises above its target level, as long as inflation had been well under it before then.

A report on Friday showed that inflation remains low, though it was higher than economists expected. Consumer prices rose 1.3% in August from a year earlier, a shade above the 1.2% that investors were expecting.

The yield on the 10-year Treasury slipped to 0.66% from 0.68% late Thursday.

Unprecedented amounts of aid from Congress, along with the Federal Reserve, also helped the stock market halt its nearly 34% plummet in late March.

But it looks less likely by the day that Congress will approve more support for the limping economy before the November elections, even though investors say such stimulus is crucial after unemployment benefits and other stimulus has expired. Senate Democrats on Thursday shot down a scaled-back package proposed by Republicans, saying it shortchanged too many needs.

Investors are also worried about all the uncertainty that elections bring generally, which can result in big changes for tax laws and regulations that affect corporate profits. Concerns are likewise high about trade tensions between the United States and China, among other major economies, and whether the expectations building for a coming COVID-19 vaccine prove to be too optimistic.

European stock markets made modest moves. The German DAX was close to flat, and the French CAC 40 rose 0.2%. The FTSE 100 in London rose 0.5%

Asian markets were stronger. Japan’s Nikkei 225 rose 0.7%, the Hang Seng in Hong Kong climbed 0.8% and stocks in Shanghai added 0.8%. The Kospi in South Korea was close to flat.

3820


----------



## bigdog

*ASX 200 expected to rise.*

It looks set to be a better day of trade for the ASX 200 index. According to the latest SPI futures, the ASX 200 is poised to start the week higher. Current futures contracts are pointing to a 4-point or 0.1% gain at the open. This follows a reasonably positive night of trade on Wall Street on Friday which saw the Dow Jones rise 0.5%, the S&P 500 edge slightly higher, and the Nasdaq fall 0.6%.


----------



## bigdog

Wall Street kicked off the week with a broad rally Monday, clawing back much of the stock market's losses from last week.

The S&P 500 rose 1.3%, led by gains in technology, health care and financial stocks. Small company stocks were among the biggest gainers. The rally reversed a big slice of the index's 2.5% slide last week, when the S&P 500 posted its biggest weekly decline since June. Treasury yields were mostly higher.

The market's strong start to the week is a reversal after a mostly downward shift in the market this month led by a sell-off in high-flying tech stocks that many analysts said was long overdue.

“We’ve been due for a little bit of a pullback, and we’ve experienced that so far in September,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. “We still have a positive outlook into the end of the year, but we believe market chop will be the norm.”

The S&P 500 gained 42.57 points to 3,383.54. The Dow Jones Industrial Average rose 327.69 points, or 1.2%, to 27,993.33. The Nasdaq, which includes many tech stocks, picked up 203.11 points, or 1.9%, to 11,056.65. Small company stocks climbed more than the rest of the market, sending the Russell 2000 higher. The index rose 39.70 points, or 2.7%, to 1,536.97.

Several big corporate deals helped put investors in a buying mood Monday. Nvidia jumped 5.8% after announcing plans to buy fellow chipmaker Arm Holdings in a deal worth up to $40 billion. Oracle climbed 4.3% after the business software maker beat out Microsoft to become the “trusted technology provider” of TikTok, the popular video-sharing app based in China. And the stock of Immunomedics nearly doubled after the cancer drug specialist agreed to be acquired by Gilead Sciences in a $21 billion deal. Gilead shares rose 2.2%.

AstraZeneca added 0.5% following news over the weekend that clinical trials for the pharmaceutical company's coronavirus vaccine will resume after being paused due to a reported side-effect in a patient in the U.K. The vaccine is seen as one of the strongest contenders among the dozens of coronavirus vaccines being tested.

Wall Street has been riding a surge in volatility the past couple of weeks as investors turned cautious following a five-month rally for stocks fueled largely by a run-up in big tech companies.

The pandemic accelerated the use of online services by businesses and individuals, driving shares of Apple, Amazon, Microsoft, Zoom Video and other tech companies sharply higher through the summer. But concerns that the high-flying tech stocks had soared too high have put investors in a selling mood in September. The S&P 500 is down 3.3% so far this month, while the Nasdaq has pulled back 6.1%.

*ASX 200 expected to edge lower.*
The ASX 200 index looks set to edge lower today despite a very strong start to the week on Wall Street. According to the latest SPI futures, the benchmark index is poised to open the day 8 points or 0.15% lower. On Wall Street the Dow Jones rose 1.2%, the S&P 500 climbed 1.3%, and the Nasdaq jumped 1.9% higher.









https://www.usnews.com/news/busines...s-rise-as-investors-look-ahead-to-fed-meeting

*Wall Street Posts Solid Gains After Surge in Corporate Deals*
*Wall Street ended solidly higher Monday following a burst of big corporate deals.*
By Associated Press, Wire Service Content Sept. 14, 2020, at 5:05 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Wall Street kicked off the week with a broad rally Monday, clawing back much of the stock market's losses from last week.

The S&P 500 rose 1.3%, led by gains in technology, health care and financial stocks. Small company stocks were among the biggest gainers. The rally reversed a big slice of the index's 2.5% slide last week, when the S&P 500 posted its biggest weekly decline since June. Treasury yields were mostly higher.

The market's strong start to the week is a reversal after a mostly downward shift in the market this month led by a sell-off in high-flying tech stocks that many analysts said was long overdue.

“We’ve been due for a little bit of a pullback, and we’ve experienced that so far in September,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. “We still have a positive outlook into the end of the year, but we believe market chop will be the norm.”

The S&P 500 gained 42.57 points to 3,383.54. The Dow Jones Industrial Average rose 327.69 points, or 1.2%, to 27,993.33. The Nasdaq, which includes many tech stocks, picked up 203.11 points, or 1.9%, to 11,056.65. Small company stocks climbed more than the rest of the market, sending the Russell 2000 higher. The index rose 39.70 points, or 2.7%, to 1,536.97.

Several big corporate deals helped put investors in a buying mood Monday. Nvidia jumped 5.8% after announcing plans to buy fellow chipmaker Arm Holdings in a deal worth up to $40 billion. Oracle climbed 4.3% after the business software maker beat out Microsoft to become the “trusted technology provider” of TikTok, the popular video-sharing app based in China. And the stock of Immunomedics nearly doubled after the cancer drug specialist agreed to be acquired by Gilead Sciences in a $21 billion deal. Gilead shares rose 2.2%.

AstraZeneca added 0.5% following news over the weekend that clinical trials for the pharmaceutical company's coronavirus vaccine will resume after being paused due to a reported side-effect in a patient in the U.K. The vaccine is seen as one of the strongest contenders among the dozens of coronavirus vaccines being tested.

Wall Street has been riding a surge in volatility the past couple of weeks as investors turned cautious following a five-month rally for stocks fueled largely by a run-up in big tech companies.

The pandemic accelerated the use of online services by businesses and individuals, driving shares of Apple, Amazon, Microsoft, Zoom Video and other tech companies sharply higher through the summer. But concerns that the high-flying tech stocks had soared too high have put investors in a selling mood in September. The S&P 500 is down 3.3% so far this month, while the Nasdaq has pulled back 6.1%.

“We know that momentum is going to slow a little bit, that’s expected,” said Esty Dwek, head of global market strategy at Natixis Investment Managers. “It wasn’t supposed to be, or it was never going to be a straight line without any bumps in the road.”

Despite their September stumble, stocks retain much of their gains since setting record highs less than two weeks ago. The S&P 500 is up 4.7% for the year. The Nasdaq is up 23.2%. Even so, analysts expect more volatility for stocks in the months ahead as the market navigates uncertainty over the outcome of the election, pessimism that Democrats and Republicans in Washington will be able to reach a deal to send more aid to unemployed workers and an economy still struggling amid the pandemic.

One big factor that remains in the stock market’s favor is the Federal Reserve, which continues to pump aid into the economy. It has slashed short-term interest rates to record lows and bought up all kinds of bonds to support markets. It also said recently it will keep delivering stimulus even if inflation rises above its target level, as long as inflation had been well under it before then.

Investors will be focused this week on the central bank's latest interest rate and economic policy update on Wednesday, following a two-day meeting of policymakers. After the July meeting, the Fed kept its key interest rate unchanged at a record low near zero. Fed policymakers also pledged to keep rates low until they are confident that the economy has weathered the pandemic-induced recession.

Low rates often act like steroids for Wall Street, encouraging investors to pay higher prices for stocks relative to corporate profits, which can benefit high-growth stocks in particular.

Traders also will have their eye on a batch of new data due out this week on U.S. home construction, retail sales and consumer sentiment. Housing has been a highlight of the economic recovery as ultra-low interest rates have helped drive home sales and spurred builders to ramp up construction. Homebuilder stocks have been climbing even during the market pullback much of this month.

The yield on the 10-year Treasury rose to 0.68% from 0.67% late Friday.

European markets ended mixed, while Asian markets closed broadly higher.


----------



## bigdog

Stocks overcame a late-afternoon burst of selling and closed higher Tuesday, as gains in big technology companies outweighed losses in banks and elsewhere in the market.

The S&P 500 rose 0.5% after being up 1.1% earlier. It's the second straight sizable gains for the benchmark index following its worst week since June.

High-flying technology stocks, which have been driving the market higher throughout the pandemic, abruptly lost altitude earlier this month amid worries that their prices had simply climbed too high, even after taking into account their tremendous growth.

But the past two days has marked a reversal of that trend, with shares in technology companies and others that play a key role in online access and commerce climbing again. Microsoft rose 1.6% Tuesday, while Amazon gained 1.7% and Zoom Video climbed 1.8%.

A key reason tech stocks are climbing again is that investors' expectations that the companies' profits will boom as even more of daily life shifts online haven't changed.

“The things that are doing well or are beneficiaries or are working in this environment, for good reason, are the things that are going up,” said Tom Martin, senior portfolio manager with Globalt Investments. “That isn’t going to change until we get a notable change in one of the things that are uncertain: The virus itself and the effect that’s having on the economy, and whether we get anything new on the fiscal stimulus front.”

The S&P 500 rose 17.66 points to 3,401.20. The Dow Jones Industrial Average inched up 2.27 points, or less than 0.1%, to 27,995.60. The index swung between a gain of 237 points and loss of 61. The Nasdaq, which is heavily weighted with tech stocks, climbed 133.67 points, or 1.2%, to 11,190.32.

Stocks of smaller companies eked out a tiny gain. The Russell 2000 index of small-caps picked up 1.18 points, or 0.1%, to 1,538.15.
Because tech companies have grown so massive, their movements alone can dictate the market’s performance more than ever. Tech stocks as a group account for nearly 28% of the S&P 500, and they’re up 3.1% this week after slumping more than 4% in each of the prior two weeks.

Analysts expect more volatility for stocks in the months ahead as the market navigates uncertainty over the outcome of the election, pessimism that Democrats and Republicans in Washington will be able to reach a deal to send more aid to unemployed workers and an economy still struggling amid the pandemic.

Investors weighed a batch of mixed global economic data Tuesday.

Stocks in Europe and much of Asia ticked higher following reports showing retail sales in China were higher last month than a year earlier for the first such growth this year, after the pandemic pancaked the world’s second-largest economy. In Europe’s largest economy, a reading on German economic confidence rose more than expected.

In the United States, a report showed that industrial production also strengthened last month. But the growth wasn’t as strong as economists were expecting. Other reports showed that manufacturing in New York State is expanding more than economists expected, as are import and export prices.

*ASX 200 expected to storm higher.*

It looks set to be a positive day of trade for the ASX 200 on Wednesday. According to the latest SPI futures, the benchmark index is poised to open the day 48 points or 0.8% higher this morning. This follows a reasonably positive night of trade on Wall Street. The Dow Jones was flat, the S&P 500 climbed 0.5%, and the Nasdaq charged 1.2% higher.














			https://www.usnews.com/news/business/articles/2020-09-15/asian-markets-mixed-after-wall-street-rises-on-dealmaking
		


*Stocks Give up Part of an Early Gain but Still End Higher*
Stocks gave up part of their gains from earlier in the day but still closed higher on Wall Street Tuesday.

By Associated Press, Wire Service Content Sept. 15, 2020, at 4:46 p.m. 


By STAN CHOE and ALEX VEIGA, AP Business Writers
Stocks overcame a late-afternoon burst of selling and closed higher Tuesday, as gains in big technology companies outweighed losses in banks and elsewhere in the market.

The S&P 500 rose 0.5% after being up 1.1% earlier. It's the second straight sizable gains for the benchmark index following its worst week since June.

High-flying technology stocks, which have been driving the market higher throughout the pandemic, abruptly lost altitude earlier this month amid worries that their prices had simply climbed too high, even after taking into account their tremendous growth.

But the past two days has marked a reversal of that trend, with shares in technology companies and others that play a key role in online access and commerce climbing again. Microsoft rose 1.6% Tuesday, while Amazon gained 1.7% and Zoom Video climbed 1.8%.

A key reason tech stocks are climbing again is that investors' expectations that the companies' profits will boom as even more of daily life shifts online haven't changed.

“The things that are doing well or are beneficiaries or are working in this environment, for good reason, are the things that are going up,” said Tom Martin, senior portfolio manager with Globalt Investments. “That isn’t going to change until we get a notable change in one of the things that are uncertain: The virus itself and the effect that’s having on the economy, and whether we get anything new on the fiscal stimulus front.”

The S&P 500 rose 17.66 points to 3,401.20. The Dow Jones Industrial Average inched up 2.27 points, or less than 0.1%, to 27,995.60. The index swung between a gain of 237 points and loss of 61. The Nasdaq, which is heavily weighted with tech stocks, climbed 133.67 points, or 1.2%, to 11,190.32.

Stocks of smaller companies eked out a tiny gain. The Russell 2000 index of small-caps picked up 1.18 points, or 0.1%, to 1,538.15.
Because tech companies have grown so massive, their movements alone can dictate the market’s performance more than ever. Tech stocks as a group account for nearly 28% of the S&P 500, and they’re up 3.1% this week after slumping more than 4% in each of the prior two weeks.

Analysts expect more volatility for stocks in the months ahead as the market navigates uncertainty over the outcome of the election, pessimism that Democrats and Republicans in Washington will be able to reach a deal to send more aid to unemployed workers and an economy still struggling amid the pandemic.

Investors weighed a batch of mixed global economic data Tuesday.

Stocks in Europe and much of Asia ticked higher following reports showing retail sales in China were higher last month than a year earlier for the first such growth this year, after the pandemic pancaked the world’s second-largest economy. In Europe’s largest economy, a reading on German economic confidence rose more than expected.

In the United States, a report showed that industrial production also strengthened last month. But the growth wasn’t as strong as economists were expecting. Other reports showed that manufacturing in New York State is expanding more than economists expected, as are import and export prices.

Treasury yields were relatively steady. The yield on the 10-year Treasury was at 0.67%, unchanged from late Monday. The 30-year yield ticked up to 1.44% from 1.41%. 

Shorter-term rates remain pinned at lower levels on expectations that the Federal Reserve will keep its benchmark rate at nearly zero for some time to help the economy recover. The central bank is beginning its latest meeting on interest-rate policy Tuesday, and it will announce its decision on Wednesday. Economists say it could change some of the language around its existing pledge to buy bonds to support markets, but they expect no major news.

On the losing side was Carnival, which dropped 10.8%, making it the biggest decliner in the S&P 500. The cruise ship operator said it may sell up to $1 billion in stock to raise cash, and it reported a preliminary $2.9 billion loss for its latest quarter. More encouragingly, it also said its advance bookings for the second half of 2021 are similar to where booking positions were in 2018 for the second half of 2019, before the coronavirus pummeled the industry.

Financial stocks were also laggards. JPMorgan Chase fell 3.1%, losing an earlier modest gain. It trimmed its forecast for this year's net interest income, which measures how much profit it makes from interest payments for loans and other products after subtracting the interest it pays out on deposits.

In European stock markets, Germany’s DAX returned 0.2%, and the French CAC 40 rose 0.3%. The FTSE 100 in London climbed 1.3%. Markets in Asia ended mostly higher.


----------



## bigdog

Stocks closed lower on Wall Street Wednesday after a rally following the Federal Reserve's latest interest rate policy update faded in the final hour of trading.

The S&P 500 fell 0.5% after having been up 0.6% following the 2 p.m. Eastern time Fed announcement. The central bank signaled it will keep interest rates near zero into 2023 and issued a slightly less dire outlook for economic growth and unemployment this year.
The Fed's decision to leave rates unchanged had been widely expected by Wall Street and continues the central bank's policy of unprecedented support for financial markets since the pandemic knocked the economy into a recession.

“The Fed confirmed what we all thought, rates at 0% are here to stay, probably for years,” said Ryan Detrick, chief market strategist for LPL Financial. “A better economy and a dovish Fed, that is a nice combo.”

The S&P 500 lost 15.71 points to 3,385.49. The Dow Jones Industrial average rose 36.78 points, or 0.1%, to 28,032.38. It had earlier been up by 369 points. The Nasdaq composite lost 139.85 points, or 1.3%, to 11,050.47.

Smaller stocks rose more than the rest of the market, and the Russell 2000 index of small-caps gained 14.17 points, or 0.9%, to 1,552.33.
The market's pullback snapped a three-day winning streak for the S&P 500, which is down 3.3% so far this month after five-straight monthly gains.

One of the primary reasons Wall Street has roared back to record heights this year despite the still-raging pandemic is the immense aid from the Federal Reserve. The central bank has cut short-term rates to nearly zero and is buying all kinds of bonds to support markets. Last month, Fed chair Jay Powell outlined a new strategy of providing support even if inflation rises above its target level.

“Don’t fear the Federal Reserve, and don’t fear them making a policy mistake that hurts economic expansion any time in the next three years,” said Mike Zigmont, director of trading and research at Harvest Volatility Management.

“The Fed’s statement today is an affirmation to market participants that a risk-on strategy will continue to be supported by the Fed,” said Lindsey Bell, chief investment strategist at Ally Invest. “This is apparent in their signaling that rates could stay low through 2023 and a reiteration of their shift in focus to inflation and long-term inflation.”

Powell said Wednesday that the economy has recovered more quickly than the Fed had expected. The Fed updated its forecast for GDP to a decline of 3.7% this year compared to a June forecast of a 6.5% drop. On employment, the Fed projected an unemployment rate at the end of the year of 7.6% instead of the 9.3% it projected in June.

Still, Powell acknowledged the economic outlook remains highly uncertain, and heavily dependent on the U.S. getting control of the pandemic.

“A full economic recovery is unlikely until people are confident that it is safe to re-engage in a wide variety of activities,” Powell said.
The economy has improved fitfully since the worst of the lockdowns in the spring. Investors say the economy and markets still crucially need all the support they can get from the Federal Reserve and Congress.

Federal unemployment benefits and other Congressional aid for the economy approved earlier this year have expired, and partisan disagreements on Capitol Hill have prevented their renewal.

A report on Wednesday showed that U.S. retail sales strengthened less than economists expected last month. Part of the shortfall is likely because unemployed workers are no longer getting the $600 boost to their weekly checks that had been coming from the federal government.

Technology stocks led the slide Wednesday, outweighing gains in financial, industrial and energy companies. The pullback in tech stocks marks a reversal from the first two days of this week, when the sector rebounded from a tumultuous two-week sell-off. Gains by big tech stocks have helped drive the market's stunning rebound this year, most recently carrying the S&P 500 to a record high on Sept. 2.

*ASX 200 poised to edge lower.*

The ASX 200 index looks set to drop lower on Thursday after a mixed night of trade on Wall Street. According to the latest SPI futures, the benchmark index is poised to open the day 9 points or 0.15% lower this morning. On Wall Street the Dow Jones rose 0.1%, the S&P 500 fell 0.45%, and the Nasdaq tumbled 1.2% lower.












			https://www.usnews.com/news/business/articles/2020-09-16/asian-shares-mostly-higher-after-wall-street-gains
		


*US Stocks Close Lower After Fed Rate Decision*
Stock indexes are closing lower on Wall Street after a getting a brief boost Wednesday from the Federal Reserve's decision to leave interest rates unchanged at nearly zero*.*

By Associated Press, Wire Service Content Sept. 16, 2020, at 5:02 p.m. 


By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks closed lower on Wall Street Wednesday after a rally following the Federal Reserve's latest interest rate policy update faded in the final hour of trading.

The S&P 500 fell 0.5% after having been up 0.6% following the 2 p.m. Eastern time Fed announcement. The central bank signaled it will keep interest rates near zero into 2023 and issued a slightly less dire outlook for economic growth and unemployment this year.
The Fed's decision to leave rates unchanged had been widely expected by Wall Street and continues the central bank's policy of unprecedented support for financial markets since the pandemic knocked the economy into a recession.

“The Fed confirmed what we all thought, rates at 0% are here to stay, probably for years,” said Ryan Detrick, chief market strategist for LPL Financial. “A better economy and a dovish Fed, that is a nice combo.”

The S&P 500 lost 15.71 points to 3,385.49. The Dow Jones Industrial average rose 36.78 points, or 0.1%, to 28,032.38. It had earlier been up by 369 points. The Nasdaq composite lost 139.85 points, or 1.3%, to 11,050.47.

Smaller stocks rose more than the rest of the market, and the Russell 2000 index of small-caps gained 14.17 points, or 0.9%, to 1,552.33.
The market's pullback snapped a three-day winning streak for the S&P 500, which is down 3.3% so far this month after five-straight monthly gains.

One of the primary reasons Wall Street has roared back to record heights this year despite the still-raging pandemic is the immense aid from the Federal Reserve. The central bank has cut short-term rates to nearly zero and is buying all kinds of bonds to support markets. Last month, Fed chair Jay Powell outlined a new strategy of providing support even if inflation rises above its target level.

“Don’t fear the Federal Reserve, and don’t fear them making a policy mistake that hurts economic expansion any time in the next three years,” said Mike Zigmont, director of trading and research at Harvest Volatility Management.

“The Fed’s statement today is an affirmation to market participants that a risk-on strategy will continue to be supported by the Fed,” said Lindsey Bell, chief investment strategist at Ally Invest. “This is apparent in their signaling that rates could stay low through 2023 and a reiteration of their shift in focus to inflation and long-term inflation.”

Powell said Wednesday that the economy has recovered more quickly than the Fed had expected. The Fed updated its forecast for GDP to a decline of 3.7% this year compared to a June forecast of a 6.5% drop. On employment, the Fed projected an unemployment rate at the end of the year of 7.6% instead of the 9.3% it projected in June.

Still, Powell acknowledged the economic outlook remains highly uncertain, and heavily dependent on the U.S. getting control of the pandemic.

“A full economic recovery is unlikely until people are confident that it is safe to re-engage in a wide variety of activities,” Powell said.
The economy has improved fitfully since the worst of the lockdowns in the spring. Investors say the economy and markets still crucially need all the support they can get from the Federal Reserve and Congress.

Federal unemployment benefits and other Congressional aid for the economy approved earlier this year have expired, and partisan disagreements on Capitol Hill have prevented their renewal.

A report on Wednesday showed that U.S. retail sales strengthened less than economists expected last month. Part of the shortfall is likely because unemployed workers are no longer getting the $600 boost to their weekly checks that had been coming from the federal government.

Technology stocks led the slide Wednesday, outweighing gains in financial, industrial and energy companies. The pullback in tech stocks marks a reversal from the first two days of this week, when the sector rebounded from a tumultuous two-week sell-off. Gains by big tech stocks have helped drive the market's stunning rebound this year, most recently carrying the S&P 500 to a record high on Sept. 2.

FedEx rose 5.8% after reporting stronger profit growth for the latest quarter than analysts expected. The boom in online shopping caused by the coronavirus pandemic has helped lift its revenue. The company said that the growth it expected to see over the next three to five years has happened in just three to five months.

Treasury yields dipped following the retail sales report, but inched higher after the Fed statement. The yield on the 10-year Treasury rose to 0.69% from 0.68% late Tuesday.

Earlier, a separate report from the Organization for Economic Cooperation and Development had said the global economy is not doing as badly as previously expected, especially in the United States and China. It projected the world’s economy will shrink by 4.5% this year, less than the 6% plunge it had predicted in June.

Stock markets in Europe finished mostly higher. The German DAX rose 0.3% and the French CAC 40 rose 0.1%. The FTSE 100 in London fell 0.4%. Markets in Asia ended mixed.


----------



## bigdog

Another slide in technology companies helped pull stocks lower on Wall Street Thursday, extending losses from the day before.

The S&P 500 lost 0.8% after having been down 1.7% earlier. The selling was widespread, with eight of the 11 sectors that make up the benchmark index ending the day lower. The sectors that include Amazon, Facebook and Apple took the heaviest losses.

The selling came a day after the Federal Reserve said it will keep interest rates at nearly zero for years to support the wheezing economy. The statement failed to encourage Wall Street and the S&P 500 recorded its first loss in four days Wednesday.

Low interest rates are usually a boon for investors, sending stocks soaring. So why the sell-off? Analysts gave varying reasons for the market’s weakness. Among them: the gloomy outlook Fed Chair Jerome Powell gave for the economy’s prospects and built-up expectations by some that the Fed would be even more generous with its stimulus. It isn’t the first hangover stocks have suffered following a rate announcement by the Fed.

“The market really got a bunch of nothing from the Fed,” said Shawn Cruz, senior market strategist at TD Ameritrade. “Maybe that would be OK if we were continuing along with the recovery, but the recovery is starting to decelerate.”

While the market took more losses Thursday, they selling eased toward the end of the day. The S&P 500 fell 28.48 points to 3,357.01. The Dow Jones Industrial Average lost 130.40 points, or 0.5%, to 27,901.98. It had been down 384 points.

The Nasdaq composite, which is heavily weighted with technology stocks, slid 140.19 points, or 1.3%, to 10,910.28. The Russell 2000 index of small company stocks gave up 9.73 points, or 0.6%, to 1,542.60.

The sell-off cut into the market’s gains this week on Monday and Tuesday. The S&P 500 is still up 0.5% for the week, but down 4.1% so far this month after five-straight monthly gains.

Another possibility for the downward turn the market has taken the past two days is the diminishing odds that Congress will deliver more aid for the economy anytime soon after benefits for unemployed workers and other stimulus expired recently. Investors say such aid is crucial for the recovery, and Powell talked about the importance of it in a press conference Wednesday.

The Fed’s actions in the wake of the economic slump, along with any further actions, could have a diminishing impact and the latest statements may be a “warning shot across the bow of Congress that they need to do something,” Cruz said.

A report on Thursday showed that another 860,000 workers applied for unemployment benefits last week. But partisan disagreements on Capitol Hill have delayed any renewal of Congressional support.

“Fundamentally, the economy is still moving in the right direction, but the risk of potentially jeopardizing the recovery from reduced fiscal support is becoming uncomfortably high,” Piper Sandler strategist Craig Johnson wrote in a report.

*ASX 200 expected to rise.*

The ASX 200 index is expected to rise on Friday despite some sizeable declines on Wall Street overnight. According to the latest SPI futures, the benchmark index is poised to open the day 21 points or 0.35% higher this morning. On Wall Street the Dow Jones fell 0.5%, the S&P 500 dropped 0.85%, and the Nasdaq tumbled 1.3% lower.

*Tech shares to fall again?*

The main drag on U.S. markets overnight was the tech sector once again. Tech giants Apple and Microsoft weighed heavily on the major indices and particularly the Nasdaq. Given how the Australian tech sector has a tendency to follow its lead, Friday could be another difficult day of trade for the likes of *Afterpay Ltd* (ASX: APT) and *Nearmap Ltd* (ASX: NEA).


















						Asia slightly higher despite Wall Street slump, virus fears
					

TOKYO (AP) — Asian shares were slightly higher Friday despite some investor attention shifting again to the uncertainties in global economies amid the coronavirus pandemic, as reflected in the overnight fall on Wall Street...




					apnews.com
				





*Wall Street slumps as Big Tech once again leads decliners*
By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGAan hour ago


Another slide in technology companies helped pull stocks lower on Wall Street Thursday, extending losses from the day before.

The S&P 500 lost 0.8% after having been down 1.7% earlier. The selling was widespread, with eight of the 11 sectors that make up the benchmark index ending the day lower. The sectors that include Amazon, Facebook and Apple took the heaviest losses.

The selling came a day after the Federal Reserve said it will keep interest rates at nearly zero for years to support the wheezing economy. The statement failed to encourage Wall Street and the S&P 500 recorded its first loss in four days Wednesday.

Low interest rates are usually a boon for investors, sending stocks soaring. So why the sell-off? Analysts gave varying reasons for the market’s weakness. Among them: the gloomy outlook Fed Chair Jerome Powell gave for the economy’s prospects and built-up expectations by some that the Fed would be even more generous with its stimulus. It isn’t the first hangover stocks have suffered following a rate announcement by the Fed.

“The market really got a bunch of nothing from the Fed,” said Shawn Cruz, senior market strategist at TD Ameritrade. “Maybe that would be OK if we were continuing along with the recovery, but the recovery is starting to decelerate.”

While the market took more losses Thursday, they selling eased toward the end of the day. The S&P 500 fell 28.48 points to 3,357.01. The Dow Jones Industrial Average lost 130.40 points, or 0.5%, to 27,901.98. It had been down 384 points.

The Nasdaq composite, which is heavily weighted with technology stocks, slid 140.19 points, or 1.3%, to 10,910.28. The Russell 2000 index of small company stocks gave up 9.73 points, or 0.6%, to 1,542.60.

The sell-off cut into the market’s gains this week on Monday and Tuesday. The S&P 500 is still up 0.5% for the week, but down 4.1% so far this month after five-straight monthly gains.

Another possibility for the downward turn the market has taken the past two days is the diminishing odds that Congress will deliver more aid for the economy anytime soon after benefits for unemployed workers and other stimulus expired recently. Investors say such aid is crucial for the recovery, and Powell talked about the importance of it in a press conference Wednesday.

The Fed’s actions in the wake of the economic slump, along with any further actions, could have a diminishing impact and the latest statements may be a “warning shot across the bow of Congress that they need to do something,” Cruz said.

A report on Thursday showed that another 860,000 workers applied for unemployment benefits last week. But partisan disagreements on Capitol Hill have delayed any renewal of Congressional support.

“Fundamentally, the economy is still moving in the right direction, but the risk of potentially jeopardizing the recovery from reduced fiscal support is becoming uncomfortably high,” Piper Sandler strategist Craig Johnson wrote in a report.

Economists say the impact of Congress’ inaction may already be showing in the data. Retail sales growth weakened last month, for example, as unemployed workers were no longer getting $600 in extra weekly benefits from the federal government. President Donald Trump issued an executive order in early August to provide a scaled-back version of the benefits, but that program is expiring.

Trump urged his fellow Republicans on Wednesday to move toward a big package of aid, which is what Democrats have been arguing for, but negotiations remain far apart.

“People are starting to realize that it does have a pretty big impact to not have that extra money coming in that got cut off at the end of July,” said Sal Bruno, chief investment officer of IndexIQ. “We’ll see if they do get a fiscal package done. If they don’t get it done by the end of this month, the odds go down dramatically.”

The number of workers applying for jobless benefits has been coming down slowly, but it remains historically high.

The high unemployment figures, along with other signs of a weaker recovery and a potential second wave of the virus, are weighing on investors.

“You put that alongside the Fed starting to pull back the punch bowl, or at least not refill it as much as people wanted, it‘s enough to spook markets,” TD Ameritrade’s Cruz said.

Big Tech stocks were again at the center of Wall Street’s selling. After flying through the pandemic on expectations that their strong growth will only continue, Apple and other superstar stocks suddenly lost momentum earlier this month amid worries they had become too expensive.

Apple fell 1.6%, Amazon dropped 2.3% and Facebook lost 3.3%.

Among the gainers was Herman Miller, which jumped 33.5% after reporting much stronger profit for its latest quarter than analysts expected. It benefited from a rush of people buying furniture for home offices they had to suddenly set up due to the pandemic.

Treasury yields fell in a sign of increased caution in the market. The yield on the 10-year Treasury held steady at 0.69%.

Stocks in markets around the world closed lower.

In Europe, the German DAX lost 0.4%, and the French CAC 40 fell 0.7%. The FTSE 100 in London slid 0.5%.

In Asia, Japan’s Nikkei 225 fell 0.7%, South Korea’s Kospi dropped 1.2% and Hong Kong’s Hang Seng lost 1.6%. Stocks in Shanghai slipped 0.4%


----------



## bigdog

Wall Street capped another turbulent week of trading Friday with a broad slide in stocks that left the S&P 500 with its third-straight weekly loss.

The S&P 500 fell 1.1%, led once again by a sell-off in technology companies, with Apple, Amazon and Alphabet weighing particularly on the market. Technology stocks and other companies that powered the market's strong comeback this year have suddenly lost momentum this month amid worries that they have become too expensive.

The sell-off wiped out the last of the solid gains the market saw to start the week. The S&P 500 is on track for its first monthly loss since March. September is historically the worst month for stocks.

“The market has been poised to just pull back, take a breather," said Quincy Krosby, chief market strategist at Prudential Financial. "Raising capital is prudent during a month that is known statistically, historically for being difficult for the market.”

The S&P 500 fell 37.54 points to 3,319.47. The decline marks the the first 3-week losing streak for the benchmark index since last October. The Dow Jones Industrial Average dropped 244.56 points, or 0.9%, to 27,657.42. The Nasdaq composite shed an early gain, losing 116.99 points, or 1.1%, to 10,793.28. Smaller stocks also fell, with the Russell 2000 index of small caps giving up 5.82 points, or 0.4%, to 1,536.78.

Momentum in the market shifted Wednesday after the Federal Reserve said the outlook for the U.S. economy remains uncertain and policymakers expect short-term interest rates to stay at record lows through 2023. Low rates typically turbocharge the market by encouraging investors to pay higher prices for stocks, but some investors may have been looking for the Fed to be more aggressive.

Growth in some areas of the economy has also slowed after supplemental unemployment benefits and other aid from the federal government expired, and partisan disagreements in Congress are holding up a possible renewal of support. Investors say it’s essential that such aid arrives.

“To the extent that you don’t get an additional fiscal cushion, the economy is going to be impacted by it,” said Brian Levitt, global market strategist at Invesco.

Rising tensions between the world’s two largest economies are also continuing to keep markets on edge. The United States said on Friday that it will ban downloads of the Chinese apps TikTok and WeChat on Sunday. It cited national security and data privacy concerns.

President Donald Trump’s targeting of the Chinese tech industry has caused intermittent worries in the market about a possible retaliation against the U.S. industry.

Big Tech stocks have stumbled sharply this month on worries that their prices have grown too expensive following their virtuosic performance through the pandemic. Surging shares of Apple, Microsoft, Amazon and others helped carry Wall Street back to record heights, even as the pandemic walloped much of the economy, as the coronavirus accelerated work-from-home and other trends that benefit them.

But they suddenly lost momentum two weeks ago, causing the market to swing with them. Because these companies have grown so massive, their stock movements have huge sway over broad market indexes, such as the S&P 500.

“We certainly got a little short-term overbought and we headed into a time of the year that is not great for markets,” Levitt said.
On Friday, several Big Tech stocks continued slipping. Apple dropped 3.2%, Microsoft fell 1.2% and Amazon slid 1.8%.

Also on the long list of concerns for markets is how the pandemic progresses, whether a vaccine for COVID-19 could indeed be available in early 2021 as many investors expect and what November’s U.S. presidential election will do to the economy.












			https://www.usnews.com/news/business/articles/2020-09-18/asia-mostly-higher-despite-wall-street-slump-virus-fears
		


*US Stocks Fall as Market Decline Extends for Third Week*
Stocks are closing lower on Wall Street Friday, as another zig-zag week for markets ends with a third-straight weekly loss for the S&P 500.

By Associated Press, Wire Service Content Sept. 18, 2020, at 5:30 p.m. 

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers
Wall Street capped another turbulent week of trading Friday with a broad slide in stocks that left the S&P 500 with its third-straight weekly loss.

The S&P 500 fell 1.1%, led once again by a sell-off in technology companies, with Apple, Amazon and Alphabet weighing particularly on the market. Technology stocks and other companies that powered the market's strong comeback this year have suddenly lost momentum this month amid worries that they have become too expensive.

The sell-off wiped out the last of the solid gains the market saw to start the week. The S&P 500 is on track for its first monthly loss since March. September is historically the worst month for stocks.

“The market has been poised to just pull back, take a breather," said Quincy Krosby, chief market strategist at Prudential Financial. "Raising capital is prudent during a month that is known statistically, historically for being difficult for the market.”

The S&P 500 fell 37.54 points to 3,319.47. The decline marks the the first 3-week losing streak for the benchmark index since last October. The Dow Jones Industrial Average dropped 244.56 points, or 0.9%, to 27,657.42. The Nasdaq composite shed an early gain, losing 116.99 points, or 1.1%, to 10,793.28. Smaller stocks also fell, with the Russell 2000 index of small caps giving up 5.82 points, or 0.4%, to 1,536.78.

Momentum in the market shifted Wednesday after the Federal Reserve said the outlook for the U.S. economy remains uncertain and policymakers expect short-term interest rates to stay at record lows through 2023. Low rates typically turbocharge the market by encouraging investors to pay higher prices for stocks, but some investors may have been looking for the Fed to be more aggressive.

Growth in some areas of the economy has also slowed after supplemental unemployment benefits and other aid from the federal government expired, and partisan disagreements in Congress are holding up a possible renewal of support. Investors say it’s essential that such aid arrives.

“To the extent that you don’t get an additional fiscal cushion, the economy is going to be impacted by it,” said Brian Levitt, global market strategist at Invesco.

Rising tensions between the world’s two largest economies are also continuing to keep markets on edge. The United States said on Friday that it will ban downloads of the Chinese apps TikTok and WeChat on Sunday. It cited national security and data privacy concerns.

President Donald Trump’s targeting of the Chinese tech industry has caused intermittent worries in the market about a possible retaliation against the U.S. industry.

Big Tech stocks have stumbled sharply this month on worries that their prices have grown too expensive following their virtuosic performance through the pandemic. Surging shares of Apple, Microsoft, Amazon and others helped carry Wall Street back to record heights, even as the pandemic walloped much of the economy, as the coronavirus accelerated work-from-home and other trends that benefit them.

But they suddenly lost momentum two weeks ago, causing the market to swing with them. Because these companies have grown so massive, their stock movements have huge sway over broad market indexes, such as the S&P 500.

“We certainly got a little short-term overbought and we headed into a time of the year that is not great for markets,” Levitt said.
On Friday, several Big Tech stocks continued slipping. Apple dropped 3.2%, Microsoft fell 1.2% and Amazon slid 1.8%.

Also on the long list of concerns for markets is how the pandemic progresses, whether a vaccine for COVID-19 could indeed be available in early 2021 as many investors expect and what November’s U.S. presidential election will do to the economy.

Treasury yields remain very low, showing the powerful strength of the Federal Reserve and continued expectations by bond investors for only modest economic growth and inflation. The yield on the 10-year Treasury rose to 0.70% from 0.69% late Thursday.

A preliminary report on Friday said that consumer sentiment is improving at a faster pace than economists expected, which is key for an economy where spending by consumers is the main driver. But it follows other reports this week that showed growth in retail sales slowed last month and the number of layoffs across the country remains stubbornly high.

One factor that may have helped make trading bumpier than usual Friday is an event known as “quadruple witching,” which marks the expiration of futures and options on stocks and indexes. The event can drive swings in prices.
Other stock markets around the world made mostly modest moves.

In Europe, the German DAX lost 0.7%, and the French CAC 40 sank 1.2%. The FTSE 100 in London fell 0.7%. Markets in Asia closed mostly higher.

Benchmark U.S. crude oil fell 0.2% to $40.89 to per barrel. Brent crude, the international standard, fell 0.8% to $42.95 per barrel.


----------



## bigdog

*ASX 200 expected to drop lower.*

According to the latest SPI futures, the ASX 200 is poised to start the week with a decline. Current futures contracts are pointing to a 36-point or 0.6% decline at the open. This follows a disappointing end to the week on Wall Street on Friday which led to the Dow Jones falling 0.9%, the S&P 500 dropping 1.1%, and the Nasdaq index tumbling 1.1%. This was the third week of declines in a row for Wall Street and due largely to further weakness in the tech sector.


----------



## bigdog

Wall Street slumped Monday as markets tumbled worldwide on worries about the pandemic’s economic pain, though the S&P 500 had pared its losses by the end of the day.

The drops began in Asia as soon as trading opened for the week, and they accelerated in Europe on worries about the possibility of tougher restrictions there to stem rising coronavirus counts. In the U.S., stocks and Treasury yields weakened, while prices sank for oil and other commodities that a healthy economy would demand.

The S&P 500 fell 38.41 points, or 1.2%, to 3,281.06. It extends the index’s losing streak to four days, its longest since stocks were selling off in February on recession worries. But a last-hour recovery helped the index more than halve its loss of 2.7% from earlier in the day.
The Dow Jones Industrial Average fell 509.72, or 1.8%, to 27,147.70 after coming back from an earlier 942 point slide. The Nasdaq composite slipped 14.48, or 0.1%, to 10,778.80 after recovering from a 2.5% drop.

Wall Street has been shaky this month, and the S&P 500 has dropped 8.4% since hitting a record Sept. 2 amid a long list of worries for investors. Chief among them is fear that stocks got too expensive when coronavirus counts are still worsening, Congress is unable to deliver more aid for the economy, U.S.-China tensions are rising and a contentious U.S. election is approaching.

Investors should expect the stock market to stay volatile, perhaps through the November elections, as they wait for these questions to shake out, said Jason Draho, head of asset allocation for the Americas at UBS Global Wealth Management.

Monday's selling was exacerbated by worries about the possibility of more business restrictions in Europe, particularly as the United States heads into flu season, Draho said, and “some investors may be stepping aside.”

David Joy, chief market strategist at Ameriprise Financial, noted how Monday’s sharpest drops were concentrated in areas of the market most closely tied to the economy’s strength, such as energy companies and raw-material producers.

“It seems to be a broader expression of worry about the economy," he said.

Bank stocks took sharp losses after a report alleged that several continue to profit from illicit dealings with criminal networks despite U.S. crackdowns on money laundering.

Shares of electric and hydrogen-powered truck startup Nikola plunged 19.3% after its founder resigned as executive chairman and left its board amid allegations of fraud. The company has called the allegations false and misleading.

General Motors, which recently signed a partnership deal where it would take an ownership stake in Nikola, fell 4.8%.

Investors are also worried about the diminishing prospects that Congress may soon deliver more aid to the economy. Many investors call such support crucial after extra weekly unemployment benefits and other stimulus expired. But partisan disagreements have held up any renewal of what’s known as the CARES Act.

“The stimulus money from the CARES Act, the impact of that, is running off and there doesn’t seem to be any urgency in Washington to get another package together,” said Joy of Ameriprise Financial..

Partisan rancor is only continuing to rise, deflating hopes further. The sudden vacancy on the Supreme Court following the death of Justice Ruth Bader Ginsburg is the latest flashpoint dividing the country.

Tensions between the world’s two largest economies are also weighing on markets. President Donald Trump has targeted Chinese tech companies in particular, and the Department of Commerce on Friday announced a list of prohibitions that could eventually cripple U.S. operations of Chinese-owned apps TikTok and WeChat. The government cited national security and data privacy concerns.
That raises the threat of Chinese retaliation against U.S. companies.

*ASX 200 expected to tumble lower.*

It looks set to be another difficult day of trade for the ASX 200 on Tuesday. According to the latest SPI futures, the benchmark index is poised to fall 54 points or 0.9% at the open. This follows a disappointing start to the week on Wall Street which saw the Dow Jones fall 1.8%, the S&P 500 drop 1.15%, and the Nasdaq index tumble 0.1%. This was driven by concerns over rising coronavirus cases.














			https://www.usnews.com/news/business/articles/2020-09-21/global-markets-lower-after-wall-st-declines-for-third-week
		


*Wall Street Falls, S&P 500 Down 1.2% as Global Markets Swoon*
Stocks fell on Wall Street Monday as markets tumbled worldwide on worries about the pandemic’s economic pain.

By Associated Press, Wire Service Content Sept. 21, 2020, at 4:59 p.m. 


By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers
NEW YORK (AP) — Wall Street slumped Monday as markets tumbled worldwide on worries about the pandemic’s economic pain, though the S&P 500 had pared its losses by the end of the day.

The drops began in Asia as soon as trading opened for the week, and they accelerated in Europe on worries about the possibility of tougher restrictions there to stem rising coronavirus counts. In the U.S., stocks and Treasury yields weakened, while prices sank for oil and other commodities that a healthy economy would demand.

The S&P 500 fell 38.41 points, or 1.2%, to 3,281.06. It extends the index’s losing streak to four days, its longest since stocks were selling off in February on recession worries. But a last-hour recovery helped the index more than halve its loss of 2.7% from earlier in the day.
The Dow Jones Industrial Average fell 509.72, or 1.8%, to 27,147.70 after coming back from an earlier 942 point slide. The Nasdaq composite slipped 14.48, or 0.1%, to 10,778.80 after recovering from a 2.5% drop.

Wall Street has been shaky this month, and the S&P 500 has dropped 8.4% since hitting a record Sept. 2 amid a long list of worries for investors. Chief among them is fear that stocks got too expensive when coronavirus counts are still worsening, Congress is unable to deliver more aid for the economy, U.S.-China tensions are rising and a contentious U.S. election is approaching.

Investors should expect the stock market to stay volatile, perhaps through the November elections, as they wait for these questions to shake out, said Jason Draho, head of asset allocation for the Americas at UBS Global Wealth Management.

Monday's selling was exacerbated by worries about the possibility of more business restrictions in Europe, particularly as the United States heads into flu season, Draho said, and “some investors may be stepping aside.”

David Joy, chief market strategist at Ameriprise Financial, noted how Monday’s sharpest drops were concentrated in areas of the market most closely tied to the economy’s strength, such as energy companies and raw-material producers.

“It seems to be a broader expression of worry about the economy," he said.

Bank stocks took sharp losses after a report alleged that several continue to profit from illicit dealings with criminal networks despite U.S. crackdowns on money laundering.

Shares of electric and hydrogen-powered truck startup Nikola plunged 19.3% after its founder resigned as executive chairman and left its board amid allegations of fraud. The company has called the allegations false and misleading.

General Motors, which recently signed a partnership deal where it would take an ownership stake in Nikola, fell 4.8%.

Investors are also worried about the diminishing prospects that Congress may soon deliver more aid to the economy. Many investors call such support crucial after extra weekly unemployment benefits and other stimulus expired. But partisan disagreements have held up any renewal of what’s known as the CARES Act.

“The stimulus money from the CARES Act, the impact of that, is running off and there doesn’t seem to be any urgency in Washington to get another package together,” said Joy of Ameriprise Financial..

Partisan rancor is only continuing to rise, deflating hopes further. The sudden vacancy on the Supreme Court following the death of Justice Ruth Bader Ginsburg is the latest flashpoint dividing the country.

Tensions between the world’s two largest economies are also weighing on markets. President Donald Trump has targeted Chinese tech companies in particular, and the Department of Commerce on Friday announced a list of prohibitions that could eventually cripple U.S. operations of Chinese-owned apps TikTok and WeChat. The government cited national security and data privacy concerns.
That raises the threat of Chinese retaliation against U.S. companies.

A U.S. judge over the weekend ordered a delay to the restrictions on WeChat, a communications app popular with Chinese-speaking Americans, on First Amendment grounds.

Trump also said on Saturday he gave his blessing to a proposed deal between TikTok, Oracle and Walmart to create a new company that would likely be based in Texas.

Layered on top of all those concerns for the market is the continuing coronavirus pandemic and its effect on the global economy.
On Sunday, the British government reported 4,422 new coronavirus infections, its biggest daily rise since early May. An official estimate shows new cases and hospital admissions are doubling every week.

Prime Minister Boris Johnson later this week is expected to announce a slate of short-term restrictions that will act as a “circuit breaker” to slow the spread of the disease. The number of cases has been rising quickly in many European countries and while authorities don’t seem ready to return to the tough restrictions on public life that they imposed in the spring, the new wave of the pandemic threatens the economic outlook.

The FTSE 100 in London dropped 3.4%. Other European markets were similarly weak. The German DAX lost 4.4%, and the French CAC 40 fell 3.7%.

In Asia, Hong Kong’s Hang Seng dropped 2.1%, South Korea’s Kospi fell 1% and stocks in Shanghai lost 0.6%.

The yield on the 10-year Treasury fell to 0.66% from 0.69% late Friday.

September's losses for markets are reversing months of remarkable gains. Beginning in late March, when the Federal Reserve and Congress pledged massive amounts of support for the economy, the S&P 500 erased its nearly 34% in losses caused by the pandemic. Signs of budding economic improvements accelerated the gains, but growth has slowed recently.


----------



## bigdog

The S&P 500 climbed 1.1%, led by solid gains in technology and communications stocks, and companies that rely on consumer spending. Banks, health care and energy stocks closed lower. Homebuilders surged following a report showing U.S. home sales jumped in August to their highest level since 2006.

The gains helped the market recover some of its losses a day after stocks tumbled amid a raft of worries about the pandemic and governments’ response to it.

The S&P 500 rose 34.51 points to 3,315.57. The Dow Jones Industrial Average gained 140.48 points, or 0.5%, to 27,288.18. The Nasdaq composite climbed 184.84 points, or 1.7%, to 10,963.64. The Russell 2000 index of small company stocks picked up 11.71 points, or 0.8%, to 1,496.96.

Tuesday's market rebound has been the exception this month. Wall Street has suddenly lost momentum in September following months of powerful gains that returned the S&P 500 to a record. The benchmark S&P 500 index is down 5.3% so far this month, while the Nasdaq is off nearly 7%. A long list of concerns for investors has caused big swings in the market, from worries that stocks have grown too expensive to frustration about Congress’ refusal so far to deliver more aid to the struggling economy.

“Right now it's kind of reality is setting in, looking at valuations and realizing that coronavirus is still prevalent, we don’t have a vaccine and we don’t know who’s going to be in the White House in 2021,” said Lindsey Bell, chief investment strategist at Ally Invest.

Federal Reserve Chair Jerome Powell pressed Congress to act on additional aid for the economy during a House of Representatives committee hearing Tuesday, saying that the economy appears to be improving, but still likely needs more government stimulus. Extra weekly unemployment benefits and other stimulus that Congress approved in March have expired, and some areas of the economy have already slowed as a result.

That support from Congress, along with unprecedented moves by the Federal Reserve to aid markets, helped halt the S&P 500's nearly 34% plummet earlier this year. Investors say it’s crucial that Congress extended more support, but partisan disagreements have blocked the efforts.

The sudden vacancy on the Supreme Court following the death of Justice Ruth Bader Ginsburg is amping up partisanship across the country, diminishing hopes even further.

Among other concerns for investors are rising tensions between the United States and China, which could lead to a Chinese retaliation against U.S tech companies, as well as the upcoming U.S. elections and all the changes in tax policy and regulations they can create.

All those factors combined to knock the S&P 500 down as much as 2.7% on Monday.

The uneasy trading continued early Tuesday as stock indexes swung from small gains to losses through the morning before steadying by afternoon. Tech stocks in the S&P 500 bounced between a gain of 1.7% and a loss of 0.4%, for example.

Big Tech stocks have lost momentum this month on worries their stocks grew too expensive following a supersonic run through the pandemic. Apple, Amazon and others have benefited from the pandemic because it’s accelerated work-from-home and other trends that boost their profits.

Tech stocks added to their gains Tuesday after a late-afternoon turnaround a day earlier. Apple gained 1.6% while Microsoft rose 2.4%. Amazon climbed 5.7%.

Traders also bid up shares in homebuilders after the National Association of Realtors said that sales of previously occupied U.S. homes rose 2.4% in August to their highest level since 2006. Sales are up 10.5% from a year ago and back to pre-COVID-19 levels of early 2020.

Among the biggest gainers was builder D.R. Horton, which rose 4.7%.

Stocks of companies whose profits are most closely tied to the strength of the economy clawed back some of their sharp losses from the day before, but their movements were also erratic.

*ASX 200 futures pointing higher.*

The ASX 200 index is expected to bounce back strongly on Wednesday. According to the latest SPI futures, the benchmark index is poised to storm 61 points or 1.06% higher at the open. This follows a very positive night of trade on Wall Street which saw the Dow Jones rise 0.5%, the S&P 500 climb 1.05%, and the Nasdaq index race 1.7% higher.

*Tech share recovery to continue.*

Australian tech shares such as *Afterpay Ltd* (ASX: APT) and *Xero Limited* (ASX: XRO) look set to continue their recovery on Wednesday after the tech-focused Nasdaq index stormed higher overnight. The highlight on the Nasdaq was arguably the Amazon share price, which surged almost 6% higher. Investors appear to believe the tech rout is now over.












			https://www.usnews.com/news/business/articles/2020-09-22/asian-shares-track-wall-street-retreat-big-banks-tumble
		


*Wall Street Steadies Itself, Halting 4-Day Losing Streak*
Stocks rebounded on Wall Street Tuesday, recovering some of their losses after tumbling on a raft of worries about the pandemic and governments’ response to it.

By Associated Press, Wire Service Content Sept. 22, 2020, at 4:44 p.m. 

The S&P 500 climbed 1.1%, led by solid gains in technology and communications stocks, and companies that rely on consumer spending. Banks, health care and energy stocks closed lower. Homebuilders surged following a report showing U.S. home sales jumped in August to their highest level since 2006.

The gains helped the market recover some of its losses a day after stocks tumbled amid a raft of worries about the pandemic and governments’ response to it.

The S&P 500 rose 34.51 points to 3,315.57. The Dow Jones Industrial Average gained 140.48 points, or 0.5%, to 27,288.18. The Nasdaq composite climbed 184.84 points, or 1.7%, to 10,963.64. The Russell 2000 index of small company stocks picked up 11.71 points, or 0.8%, to 1,496.96.

Tuesday's market rebound has been the exception this month. Wall Street has suddenly lost momentum in September following months of powerful gains that returned the S&P 500 to a record. The benchmark S&P 500 index is down 5.3% so far this month, while the Nasdaq is off nearly 7%. A long list of concerns for investors has caused big swings in the market, from worries that stocks have grown too expensive to frustration about Congress’ refusal so far to deliver more aid to the struggling economy.

“Right now it's kind of reality is setting in, looking at valuations and realizing that coronavirus is still prevalent, we don’t have a vaccine and we don’t know who’s going to be in the White House in 2021,” said Lindsey Bell, chief investment strategist at Ally Invest.

Federal Reserve Chair Jerome Powell pressed Congress to act on additional aid for the economy during a House of Representatives committee hearing Tuesday, saying that the economy appears to be improving, but still likely needs more government stimulus. Extra weekly unemployment benefits and other stimulus that Congress approved in March have expired, and some areas of the economy have already slowed as a result.

That support from Congress, along with unprecedented moves by the Federal Reserve to aid markets, helped halt the S&P 500's nearly 34% plummet earlier this year. Investors say it’s crucial that Congress extended more support, but partisan disagreements have blocked the efforts.

The sudden vacancy on the Supreme Court following the death of Justice Ruth Bader Ginsburg is amping up partisanship across the country, diminishing hopes even further.

Among other concerns for investors are rising tensions between the United States and China, which could lead to a Chinese retaliation against U.S tech companies, as well as the upcoming U.S. elections and all the changes in tax policy and regulations they can create.

All those factors combined to knock the S&P 500 down as much as 2.7% on Monday.

The uneasy trading continued early Tuesday as stock indexes swung from small gains to losses through the morning before steadying by afternoon. Tech stocks in the S&P 500 bounced between a gain of 1.7% and a loss of 0.4%, for example.

Big Tech stocks have lost momentum this month on worries their stocks grew too expensive following a supersonic run through the pandemic. Apple, Amazon and others have benefited from the pandemic because it’s accelerated work-from-home and other trends that boost their profits.

Tech stocks added to their gains Tuesday after a late-afternoon turnaround a day earlier. Apple gained 1.6% while Microsoft rose 2.4%. Amazon climbed 5.7%.

Traders also bid up shares in homebuilders after the National Association of Realtors said that sales of previously occupied U.S. homes rose 2.4% in August to their highest level since 2006. Sales are up 10.5% from a year ago and back to pre-COVID-19 levels of early 2020.

Among the biggest gainers was builder D.R. Horton, which rose 4.7%.

Stocks of companies whose profits are most closely tied to the strength of the economy clawed back some of their sharp losses from the day before, but their movements were also erratic.

Norwegian Cruise Line climbed 2.3%. Energy stocks in the S&P 500 rose as much as 1.6% in the first 20 minutes of trading, only to give all the gains away.

European stocks recovered some of their steep losses from Monday, which were triggered in part by worries that stricter restrictions on businesses may be on the way to stem a resurgence of coronavirus cases.

U.K. Prime Minister Boris Johnson on Tuesday announced a package of new restrictions, including requiring pubs and restaurants to close between 10 p.m. and 5 a.m, but analysts said they were less extreme than some investors worried.

Germany’s DAX returned 0.4%, though it’s still down 4% for the week so far. France’s CAC 40 fell 0.4%, and the FTSE 100 in London fell 0.4%.

In Asia, South Korea’s Kospi fell 2.4%, Hong Kong’s Hang Seng lost 1% and stocks in Shanghai sank 1.3%.

Treasury yields dipped, and the 10-year yield fell to 0.67% from 0.68% late Monday.


----------



## bigdog

Wall Street experienced more whiplash Wednesday as stocks closed broadly lower, wiping out the market's gains from the day before.

The S&P 500 fell 2.4% after giving up an earlier gain. The selling, which accelerated in the afternoon, was widespread, though technology stocks accounted for the biggest losses. The decline deepens the benchmark index's September slide to 7.5% after a five-month rally.

The market has shifted momentum several times recently. This week alone, a Monday swoon brought the S&P 500 to the edge of a 10% drop from its record high set on Sept. 2, what Wall Street calls a correction. It rebounded the following day to snap its first four-day slide since stocks were selling off in February. Wednesday's pullback left the S&P 500 within 0.4% of a correction.

“There have been 23 bull market corrections since World War II, and the average decline has been 14%,” said Sam Stovall, chief investment strategist at CFRA. “I basically see the same kind of decline taking place.”

The S&P 500's bull market began March 23, the low point in the last bear market for stocks. It's up 44.7% since then.

The S&P 500 fell 78.65 points to 3,236.92. The index is on track for its fourth-straight weekly decline. The Dow Jones Industrial Average lost 525.05 points, or 1.9%, to 26,763.13. The Nasdaq composite slid 330.65 points, or 3%, to 10,632.99. The Russell 2000 index of small company stocks gave up 45.50 points, or 3%, to 1,451.46.

Worries about a potential second wave of COVID-19 cases, doubt that lawmakers in Washington will reach a deal on another economic stimulus bill and uncertainty about the election have contributed to stocks' losses this month.

But at the center of the market’s big swings have been Apple, Amazon and other Big Tech stocks. They soared through the pandemic on expectations that their growth will only strengthen as the pandemic accelerates work-from-home and other trends that benefit them. But they began falling early this month amid fears that they had grown too expensive.

“What we’re seeing today, to some degree, is more of the same,” said Liz Ann Sonders, chief investment strategist at Charles Schwab.

The three most valuable companies in the S&P 500 led the selling Wednesday. Amazon slid 4.1%, Microsoft dropped 3.3% and Apple lost 4.2% after earlier flirting with a small gain.

“It’s mathematically impossible for a corrective phase in those names not to pull down the entire index,” Sonders said.

Part of this week’s early stumble for stocks was due to worries about European governments imposing tougher restrictions on businesses to slow the spread of the coronavirus, which hurt travel-related companies in particular. But analysts said the U.K. orders announced Tuesday weren’t as extreme as some investors had feared.

*ASX 200 to sink lower.*

The ASX 200 looks likely to give back a lot of yesterday’s gain on Thursday. According to the latest SPI futures, the benchmark index is poised to drop 60 points or 1% lower at the open. This follows another selloff on Wall Street overnight which saw the Dow Jones fall 1.9%, the S&P 500 drop 2.4%, and the Nasdaq index crash 3% lower. The latter decline could be bad news for the local tech sector. 












			https://www.usnews.com/news/business/articles/2020-09-23/asian-shares-mixed-as-worries-percolate-over-pandemic
		


*Stocks Close Sharply Lower as Tech Sector Takes Another Hit*

U.S. stocks closed sharply lower as losses for technology companies dragged down the major indexes.

By Associated Press, Wire Service Content Sept. 23, 2020, at 5:40 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street experienced more whiplash Wednesday as stocks closed broadly lower, wiping out the market's gains from the day before.

The S&P 500 fell 2.4% after giving up an earlier gain. The selling, which accelerated in the afternoon, was widespread, though technology stocks accounted for the biggest losses. The decline deepens the benchmark index's September slide to 7.5% after a five-month rally.

The market has shifted momentum several times recently. This week alone, a Monday swoon brought the S&P 500 to the edge of a 10% drop from its record high set on Sept. 2, what Wall Street calls a correction. It rebounded the following day to snap its first four-day slide since stocks were selling off in February. Wednesday's pullback left the S&P 500 within 0.4% of a correction.

“There have been 23 bull market corrections since World War II, and the average decline has been 14%,” said Sam Stovall, chief investment strategist at CFRA. “I basically see the same kind of decline taking place.”

The S&P 500's bull market began March 23, the low point in the last bear market for stocks. It's up 44.7% since then.

The S&P 500 fell 78.65 points to 3,236.92. The index is on track for its fourth-straight weekly decline. The Dow Jones Industrial Average lost 525.05 points, or 1.9%, to 26,763.13. The Nasdaq composite slid 330.65 points, or 3%, to 10,632.99. The Russell 2000 index of small company stocks gave up 45.50 points, or 3%, to 1,451.46.

Worries about a potential second wave of COVID-19 cases, doubt that lawmakers in Washington will reach a deal on another economic stimulus bill and uncertainty about the election have contributed to stocks' losses this month.

But at the center of the market’s big swings have been Apple, Amazon and other Big Tech stocks. They soared through the pandemic on expectations that their growth will only strengthen as the pandemic accelerates work-from-home and other trends that benefit them. But they began falling early this month amid fears that they had grown too expensive.

“What we’re seeing today, to some degree, is more of the same,” said Liz Ann Sonders, chief investment strategist at Charles Schwab.

The three most valuable companies in the S&P 500 led the selling Wednesday. Amazon slid 4.1%, Microsoft dropped 3.3% and Apple lost 4.2% after earlier flirting with a small gain.

“It’s mathematically impossible for a corrective phase in those names not to pull down the entire index,” Sonders said.

Nike jumped 8.8%, the biggest gainer in the S&P 500, after it reported much stronger profit than analysts expected.

Johnson & Johnson rose 0.2% as it begins a huge final study to try to prove if a single dose COVID-19 vaccine can protect against the virus. A handful of other vaccines are already in final-stage studies, and investors increasingly expect one to be available within the first three months of 2021. The hope is that it can help the economy get close to normal again and allow strong growth to resume.

Part of this week’s early stumble for stocks was due to worries about European governments imposing tougher restrictions on businesses to slow the spread of the coronavirus, which hurt travel-related companies in particular. But analysts said the U.K. orders announced Tuesday weren’t as extreme as some investors had feared.

European stocks rose despite data showing the region’s economic recovery may be faltering. Business activity is slowing as weakness in the service sector is countering strength in manufacturing, according to preliminary data from a survey of purchasing managers by IHS Markit.

The survey’s composite reading was at a three-month low, though manufacturing was at a 25-month high.

Germany’s DAX returned 0.4%, France’s CAC 40 rose 0.6% and the FTSE 100 in London fell 1.2%. Markets in Asia ended mixed.

Treasury yields were holding relatively steady, and the 10-year yield fell to 0.67% from 0.68%.

Yields have remained very low as the Federal Reserve has said it expects to keep short-term rates at nearly zero for years. Such support helped Wall Street halt its sell-off of nearly 34% earlier this year, along with a big stimulus effort by Congress.

But extra unemployment benefits and other aid from Congress have already expired. Some areas of the economy have seen growth slow as a result, and investors say a renewal is crucial. But partisan disagreements have kept Congress stymied. The vacancy on the Supreme Court following Justice Ruth Bader Ginsburg’s death has deepened the country’s partisan split even more.

Fed Chair Jerome Powell said on Tuesday that the economy would benefit from support by both the central bank and Congress. He testified Wednesday at a hearing for a House subcommittee on the coronavirus crisis and again said the economy will likely need more support.

“The recovery will go faster if there’s support coming both from Congress and from the Fed,” he said.


----------



## bigdog

Stocks eked out modest gains Thursday even as volatility continued to be the dominant force in Wall Street's tumultuous September.

The S&P 500 rose 0.3% after earlier swinging between a loss of 0.9% and a gain of 1.3%. The market notched widespread gains, though technology stocks powered much of the turnaround. Out of the S&P 500′s 11 sectors, only health care ended the day lower.

The market’s momentum has shifted with lightning speed recently, often changing direction by the hour. On Wednesday, the S&P 500 rose to a modest gain when trading began, only to end the day with a 2.4% slump. The benchmark index is now down 9.3% from its record set on Sept. 2 and on pace for its first monthly decline after a five-month rally.

The market’s turbulent run this month comes as investors worry about the upcoming election, the sustainability of the economic recovery and the prospects for Congress to deliver more economic aid for struggling Americans. Uncertainty over how soon drugmakers will be able to develop a coronavirus vaccine is also weighing on investors' mood.

“We’re focused on the strategic and the long-term, rather than the day-to-day, because it’s going to be volatile between now and the election,” said George Rusnak, head of investment strategy at Wells Fargo Private Wealth Management.

The S&P 500 rose 9.67 points to 3,246.59. The Dow Jones Industrial Average gained 52.31 points, or 0.2%, to 26,815.44. The Nasdaq composite added 39.28 points, or 0.4%, to 10,672.27. The Russell 2000 index of small company stocks inched up 0.36 points, or less than 0.1%, to 1,451.82.

Thursday's headline report showed that 870,000 workers filed for unemployment claims last week, a worse number than economists expected. The numbers come as investors are increasingly resigned to Congress not delivering more support for the economy, as many had been expecting, after extra unemployment benefits and other stimulus expired recently.

“Inaction speaks louder than words,” Morgan Stanley strategists wrote in a report. They no longer expect Congress to approve a meaningful stimulus package before the end of the year as part of its base case.

Stocks got a boost from a report showing that sales of new homes accelerated last month, contrary to economists' expectations for a slight slowdown. Homebuilders closed higher, led by a 7.2% gain for Beazer Homes USA.

Trading has been erratic on Wall Street this month, resulting in a sharp pullback for stocks. Several reasons are behind the abrupt tumble, highlighted by worries that stocks simply grew too expensive following their record-setting run through the spring and summer.

Among other concerns weighing on markets are the upcoming U.S. elections, particularly after President Donald Trump's refusal Wednesday to commit to a peaceful transition of power if he lost, and rising tensions between the United States and China.

*ASX 200 futures pointing higher.*

It looks set to be a better day of trade for the ASX 200 index on Friday. According to the latest SPI futures, the benchmark index is poised to rise 6 points or 0.1% at the open. This follows a positive night of trade on Wall Street, which saw the Dow Jones rise 0.2%, the S&P 500 climb 0.3%, and the Nasdaq index push 0.4% higher.










https://www.usnews.com/news/busines...fall-as-caution-sets-in-after-wall-st-retreat

*US Stocks End Higher as Market Volatility Continues*
*U.S. stocks are closing slightly higher Thursday, as volatility continues to be the dominant force in Wall Street’s tumultuous September.*
By Associated Press, Wire Service Content Sept. 24, 2020, at 6:02 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks eked out modest gains Thursday even as volatility continued to be the dominant force in Wall Street's tumultuous September.

The S&P 500 rose 0.3% after earlier swinging between a loss of 0.9% and a gain of 1.3%. The market notched widespread gains, though technology stocks powered much of the turnaround. Out of the S&P 500′s 11 sectors, only health care ended the day lower.

The market’s momentum has shifted with lightning speed recently, often changing direction by the hour. On Wednesday, the S&P 500 rose to a modest gain when trading began, only to end the day with a 2.4% slump. The benchmark index is now down 9.3% from its record set on Sept. 2 and on pace for its first monthly decline after a five-month rally.

The market’s turbulent run this month comes as investors worry about the upcoming election, the sustainability of the economic recovery and the prospects for Congress to deliver more economic aid for struggling Americans. Uncertainty over how soon drugmakers will be able to develop a coronavirus vaccine is also weighing on investors' mood.

“We’re focused on the strategic and the long-term, rather than the day-to-day, because it’s going to be volatile between now and the election,” said George Rusnak, head of investment strategy at Wells Fargo Private Wealth Management.

The S&P 500 rose 9.67 points to 3,246.59. The Dow Jones Industrial Average gained 52.31 points, or 0.2%, to 26,815.44. The Nasdaq composite added 39.28 points, or 0.4%, to 10,672.27. The Russell 2000 index of small company stocks inched up 0.36 points, or less than 0.1%, to 1,451.82.

Thursday's headline report showed that 870,000 workers filed for unemployment claims last week, a worse number than economists expected. The numbers come as investors are increasingly resigned to Congress not delivering more support for the economy, as many had been expecting, after extra unemployment benefits and other stimulus expired recently.

“Inaction speaks louder than words,” Morgan Stanley strategists wrote in a report. They no longer expect Congress to approve a meaningful stimulus package before the end of the year as part of its base case.

Stocks got a boost from a report showing that sales of new homes accelerated last month, contrary to economists' expectations for a slight slowdown. Homebuilders closed higher, led by a 7.2% gain for Beazer Homes USA.

Trading has been erratic on Wall Street this month, resulting in a sharp pullback for stocks. Several reasons are behind the abrupt tumble, highlighted by worries that stocks simply grew too expensive following their record-setting run through the spring and summer.

Among other concerns weighing on markets are the upcoming U.S. elections, particularly after President Donald Trump's refusal Wednesday to commit to a peaceful transition of power if he lost, and rising tensions between the United States and China.

Layered on top of it all is the still-raging coronavirus pandemic and the threat that worsening counts around the world could lead to more business restrictions.

It’s a stark shift from late March into early this month, when the S&P 500 soared 60% and more than recovered all its earlier losses on worries about the pandemic-caused recession. Still in investors’ favor is unprecedented support from the Federal Reserve, which is holding short-term interest rates at nearly zero and buying all kinds of bonds to support markets.

But Fed Chair Jerome Powell has said several times in testimony on Capitol Hill this week that the central bank can’t prop up the economy by itself and that the recovery likely needs more help from Congress.

Paralyzing partisanship has prevented a Congressional renewal of aid, and the recent vacancy on the Supreme Court caused by the death of Justice Ruth Bader Ginsburg has deepened the divide.

“The market was hoping for and anticipating some form of fiscal stimulus,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. “But that’s taking a backseat.”

Much of the market’s weakness this month has centered on Big Tech, where critics said prices exploded too high even after accounting for the companies' strong growth.

Amazon, Apple and others have seen their revenue continue to rise through the pandemic, as work-from-home and other trends that benefit them take deeper hold. But Amazon shares were up more than 90% for the year just a few weeks ago, for example, and they tumbled in recent weeks.

“It’s a healthy correction after a record run out of bear market territory,” Horneman said.

On Thursday, Amazon closed 0.7% higher after bouncing between gains and losses. Other Big Tech stocks also eked out gains. Apple rose 1%, Microsoft added 1.3% and Google's parent company picked up 1%.

Moves for such stocks have an outsized effect on broad indexes like the S&P 500 because they're the largest companies in the market by value.

The yield on the 10-year Treasury held steady at 0.67%.

In Europe, Germany's DAX fell 0.3% and France's CAC 40 fell 0.8%. The FTSE 100 in London slid 1.3%.

In Asia, Japan's Nikkei 225 fell 1.1%, South Korea's Kospi tumbled 2.6% and Hong Kong's Hang Seng dropped 1.8%. Stocks in Shanghai lost 1.7%.


----------



## bigdog

Stocks shook off another bout of volatile trading and finished solidly higher Friday, led by gains in technology and health care companies. Despite the rally, the S&P 500 still posted its fourth straight weekly loss, extending Wall Street's September swoon.

The S&P 500 rose 1.6% after flip-flopping between small gains and losses a few times in the early going. Stocks have been erratic this month, with indexes setting new highs to start the month and then falling sharply as investors worried that values for some of technology giants had risen too high.

The benchmark index ended the week with a 0.6% loss for its first four-week losing streak in more than a year. The index is now down 5.8% for September, following five straight months of gains.

The S&P 500 came within striking distance of a 10% drop from its all-time high earlier this week, what Wall Street calls a correction. Friday’s gains reflect, in part, traders taking advantage of the selling to snap up stocks at lower prices, said David Lyon, global investment specialist at J.P. Morgan Private Bank.

“You’re getting a market that got close to a 10% correction, so you’re starting to see buyers step in to buy the dip,” Lyon said.

Fund managers also tend to make moves toward the end of a quarter to bolster their portfolios, another reason for the end-of-the-week buying spree, he said.

The S&P 500 rose 51.87 points to 3,298.46. The Dow Jones Industrial Average gained 358.52 points, or 1.3%, to 27,173.96. The Nasdaq composite climbed 241.30 points, or 2.3%, to 10,913.56.

Smaller stocks also notched gains. The Russell 2000 index of small-cap stocks picked up 23.09 points, or 1.6%, to 1,474.91.

Stocks have struggled this month amid a long list of concerns. Chief among them is that stocks may have gotten too expensive following their record-breaking run through the summer, after storming 60% higher. Critics say Big Tech stocks in particular rose too high, even after accounting for their tremendous growth even as the coronavirus weakened the economy.

“This week, and the month of September, is really what we’re calling the give-back month,” Lyon said. ”(Stock) valuations got expensive and this is a natural settling of the market, kind of giving back some of those advance returns that were probably ahead of themselves.”

Big Tech stocks recovered from an early slide. Apple gained 3.8%, Microsoft rose 2.3% and Google's parent company added 1.1%.

Traders also bid up shares in cruise lines. Norwegian Cruise Line notched the biggest gain in the S&P 500, vaulting 13.7%. Carnival jumped 9.7% and Royal Caribbean Group climbed 7.7%.

Recently, investors’ frustration has also grown with the inability of Congress to deliver more aid to the economy after weekly unemployment benefits and other stimulus expired.

Democrats in the House of Representatives are paring back their proposal for stimulus in hopes of jumpstarting talks with the White House, but investors are skeptical something can happen soon. Deep partisan divisions have kept Congress from acting, and tensions are on the rise due to the sudden vacancy on the Supreme Court following the death of Justice Ruth Bader Ginsburg.










https://www.usnews.com/news/busines...ares-mixed-cheered-by-us-rally-stimulus-hopes

*Stocks Post Solid Gains as Technology Shares Lead Rally*
*U.S. stocks closed with solid gains, the latest shift in a recent stretch of turbulence for the market.*
By Associated Press, Wire Service Content Sept. 25, 2020, at 6:26 p.m

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks shook off another bout of volatile trading and finished solidly higher Friday, led by gains in technology and health care companies. Despite the rally, the S&P 500 still posted its fourth straight weekly loss, extending Wall Street's September swoon.

The S&P 500 rose 1.6% after flip-flopping between small gains and losses a few times in the early going. Stocks have been erratic this month, with indexes setting new highs to start the month and then falling sharply as investors worried that values for some of technology giants had risen too high.

The benchmark index ended the week with a 0.6% loss for its first four-week losing streak in more than a year. The index is now down 5.8% for September, following five straight months of gains.

The S&P 500 came within striking distance of a 10% drop from its all-time high earlier this week, what Wall Street calls a correction. Friday’s gains reflect, in part, traders taking advantage of the selling to snap up stocks at lower prices, said David Lyon, global investment specialist at J.P. Morgan Private Bank.

“You’re getting a market that got close to a 10% correction, so you’re starting to see buyers step in to buy the dip,” Lyon said.

Fund managers also tend to make moves toward the end of a quarter to bolster their portfolios, another reason for the end-of-the-week buying spree, he said.

The S&P 500 rose 51.87 points to 3,298.46. The Dow Jones Industrial Average gained 358.52 points, or 1.3%, to 27,173.96. The Nasdaq composite climbed 241.30 points, or 2.3%, to 10,913.56.

Smaller stocks also notched gains. The Russell 2000 index of small-cap stocks picked up 23.09 points, or 1.6%, to 1,474.91.

Stocks have struggled this month amid a long list of concerns. Chief among them is that stocks may have gotten too expensive following their record-breaking run through the summer, after storming 60% higher. Critics say Big Tech stocks in particular rose too high, even after accounting for their tremendous growth even as the coronavirus weakened the economy.

“This week, and the month of September, is really what we’re calling the give-back month,” Lyon said. ”(Stock) valuations got expensive and this is a natural settling of the market, kind of giving back some of those advance returns that were probably ahead of themselves.”

Big Tech stocks recovered from an early slide. Apple gained 3.8%, Microsoft rose 2.3% and Google's parent company added 1.1%.

Traders also bid up shares in cruise lines. Norwegian Cruise Line notched the biggest gain in the S&P 500, vaulting 13.7%. Carnival jumped 9.7% and Royal Caribbean Group climbed 7.7%.

Recently, investors’ frustration has also grown with the inability of Congress to deliver more aid to the economy after weekly unemployment benefits and other stimulus expired.

Democrats in the House of Representatives are paring back their proposal for stimulus in hopes of jumpstarting talks with the White House, but investors are skeptical something can happen soon. Deep partisan divisions have kept Congress from acting, and tensions are on the rise due to the sudden vacancy on the Supreme Court following the death of Justice Ruth Bader Ginsburg.

President Donald Trump has also declined to guarantee a peaceful transfer of power if he loses the upcoming election, though other Republicans have pushed back on that idea.

“This stimulus deal needs to go through,” Stephen Innes of AxiCorp said in a commentary. “With the risks building up everywhere you look, it doesn’t seem to be a great time to be trying to pick the bottom of equity markets, but a stimulus relief bill will go a long way to nudging the market along.”

Yet another report on Friday suggested that the economy's recovery is slowing without the support from Capitol Hill. Growth for U.S. orders of machinery and other long-lasting goods was just 0.4% last month, down from 11.7% in July. The figure on durable goods was much weaker than economists had forecast, though several said they saw a mixed picture underneath the headline numbers.

Among other concerns for markets are rising tensions between the United States and China and the possibility that investors’ expectations for a COVID-19 vaccine arriving early next year may prove to be too optimistic.

On top of all the market’s concerns are the pandemic and worries that worsening trends could lead to more profit-choking restrictions on businesses. Novavax surged 10.9% after it said it began a late stage trial of its potential COVID-19 vaccine in the United Kingdom.

Investors pulled $22.8 billion out of stock funds in the week ending Sept. 23, the largest outflow since March, according to a BofA Global Research report.

Wall Street's rally started in late March after the Federal Reserve and Congress pledged massive amounts of support for the economy. Budding economic improvements later in the spring helped accelerate the gains as widespread shutdown orders lifted.

The Fed has pledged to continue to hold short-term rates at nearly zero for years, but its chair Jerome Powell said repeatedly in testimony on Capitol Hill this week that the recovery will likely need more help from Congress as well.

In Europe, stocks closed mostly lower. Germany’s DAX lost 1.1%, and France’s CAC 40 fell 0.7%. The FTSE 100 in London rose 0.3%.

In Asia, Japan’s Nikkei 225 rose 0.5% and South Korea’s Kospi added 0.3%. Hong Kong’s Hang Seng fell 0.3%, and stocks in Shanghai slipped 0.1%.

The yield on the 10-year Treasury held steady at 0.66%.


----------



## bigdog

*ASX 200 expected to rise.*

It looks set to be a positive day of trade for the Australian share market on Monday. According to the latest SPI futures, the ASX 200 is poised to open the week 21 points or 0.35% higher this morning. This follows a very strong finish to the week on Wall Street. On Friday night the Dow Jones rose 1.3%, the S&P 500 climbed 1.6%, and the Nasdaq stormed a sizeable 2.25% higher.


----------



## bigdog

Stocks notched solid gains Monday as Wall Street clawed back some of its sharp and sudden September losses.

The S&P 500 rose 1.6%, it's third straight gain. The benchmark index was coming off its first four-week losing streak in more than a year and is on track to close out September with a loss of 4.2% after five months of gains.

The market’s gains were widespread, with more than 90% of the stocks in the S&P 500 higher. Big Tech stocks, which have been getting the most criticism for getting too expensive following their strong pandemic run, did the heaviest lifting. Several companies announced big mergers and acquisitions, which helped to push markets higher.

Optimism that Democrats and Republicans in Congress will reach a deal on another coronavirus relief bill also helped put investors in a buying mood, said Nela Richardson, investment strategist at Edward Jones.

“There’s real concern about a second wave of infections, concern that we’re just riding the coattails of growth that happened after the economy opened up in May,” Richardson said. "Anything that looks like new lifeblood for the economy is read as a positive stimulus.”

The S&P 500 rose 53.14 points to 3,351.60. The Dow Jones Industrial Average gained 410.10 points, or 1.5%, to 27,584.06. The Nasdaq composite climbed 203.96 points, or 1.9%, to 11,117.53. Traders also bid up smaller company stocks, sending the Russell 2000 small-cap index up 35.43 points, or 2.4%, to 1,510.34.

One of the big worries hurting stocks this month has been fears that the market climbed too high and got too expensive through its 60% rally from late March into early September. But several companies announced big mergers and acquisitions, which show that at least some CEOs see value at current prices.

Energy stocks made broad gains after Devon Energy and WPX Energy agreed to combine in an all-stock deal. Devon Energy led the S&P 500 companies higher, climbing 11.1%. WPX Energy rose 16.4%.

Cleveland-Cliffs jumped 11.6% after it said it will buy the U.S. business of steelmaking and mining giant ArcelorMittal for $1.4 billion. ArcelorMittal's U.S.-listed stock rose 10.6%.

Another strong gainer was Uber, which rose 3.2% after it won an appeal that will allow it to keep operating in London.

Big Tech stocks powered much of the S&P 500's gains. Amazon climbed 2.5%, Apple rose 2.4% and Microsoft gained 0.8%. These companies are massive, which gives their stock movements much more sway over the S&P 500 and broad-market indexes than other stocks.

Several factors have been behind the S&P 500's abrupt drop this month, which halted a remarkable return to record heights for Wall Street even as the pandemic continued to rage.

Many of those factors are still in place, which means analysts along Wall Street say the tumultuous trading may not be over.

“We’re not out of the woods yet," Richardson said. "Investors should expect volatility, especially as we get closer to the election.”

Investors are still waiting for Congress to deliver another round of support for the economy after extra unemployment benefits for workers and other stimulus expired. Tensions are still rising between the United States and China. And the upcoming U.S. presidential election still means plenty of uncertainty for investors, from what it could do to corporate tax rates to how long markets will need to wait until after Election Day to discover the winner

*ASX 200 expected to storm higher.*

The ASX 200 looks set to storm higher on Tuesday after a very positive start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 37 points or 0.6% higher this morning. On Wall Street the Dow Jones rose 1.5%, the S&P 500 climbed 1.6%, and the Nasdaq stormed a sizeable 1.9% higher.










https://www.usnews.com/news/busines...-up-ahead-of-china-holiday-trump-biden-debate

*Wall Street Claws Back Some of Its Losses From September*
Wall Street rallied Monday as the stock market clawed back some of its sharp losses from September.
By Associated Press, Wire Service Content Sept. 28, 2020, at 4:39 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks notched solid gains Monday as Wall Street clawed back some of its sharp and sudden September losses.

The S&P 500 rose 1.6%, it's third straight gain. The benchmark index was coming off its first four-week losing streak in more than a year and is on track to close out September with a loss of 4.2% after five months of gains.

The market’s gains were widespread, with more than 90% of the stocks in the S&P 500 higher. Big Tech stocks, which have been getting the most criticism for getting too expensive following their strong pandemic run, did the heaviest lifting. Several companies announced big mergers and acquisitions, which helped to push markets higher.

Optimism that Democrats and Republicans in Congress will reach a deal on another coronavirus relief bill also helped put investors in a buying mood, said Nela Richardson, investment strategist at Edward Jones.

“There’s real concern about a second wave of infections, concern that we’re just riding the coattails of growth that happened after the economy opened up in May,” Richardson said. "Anything that looks like new lifeblood for the economy is read as a positive stimulus.”

The S&P 500 rose 53.14 points to 3,351.60. The Dow Jones Industrial Average gained 410.10 points, or 1.5%, to 27,584.06. The Nasdaq composite climbed 203.96 points, or 1.9%, to 11,117.53. Traders also bid up smaller company stocks, sending the Russell 2000 small-cap index up 35.43 points, or 2.4%, to 1,510.34.

One of the big worries hurting stocks this month has been fears that the market climbed too high and got too expensive through its 60% rally from late March into early September. But several companies announced big mergers and acquisitions, which show that at least some CEOs see value at current prices.

Energy stocks made broad gains after Devon Energy and WPX Energy agreed to combine in an all-stock deal. Devon Energy led the S&P 500 companies higher, climbing 11.1%. WPX Energy rose 16.4%.

Cleveland-Cliffs jumped 11.6% after it said it will buy the U.S. business of steelmaking and mining giant ArcelorMittal for $1.4 billion. ArcelorMittal's U.S.-listed stock rose 10.6%.

Another strong gainer was Uber, which rose 3.2% after it won an appeal that will allow it to keep operating in London.

Big Tech stocks powered much of the S&P 500's gains. Amazon climbed 2.5%, Apple rose 2.4% and Microsoft gained 0.8%. These companies are massive, which gives their stock movements much more sway over the S&P 500 and broad-market indexes than other stocks.

Several factors have been behind the S&P 500's abrupt drop this month, which halted a remarkable return to record heights for Wall Street even as the pandemic continued to rage.

Many of those factors are still in place, which means analysts along Wall Street say the tumultuous trading may not be over.

“We’re not out of the woods yet," Richardson said. "Investors should expect volatility, especially as we get closer to the election.”

Investors are still waiting for Congress to deliver another round of support for the economy after extra unemployment benefits for workers and other stimulus expired. Tensions are still rising between the United States and China. And the upcoming U.S. presidential election still means plenty of uncertainty for investors, from what it could do to corporate tax rates to how long markets will need to wait until after Election Day to discover the winner.

The latest monthly employment report from the government on Friday could help shed some more light on the economic recovery, but it could also mean more volatility for the markets, said Brad McMillan, chief investment officer for Commonwealth Financial Network..

"This week’s going to be all about the jobs numbers, that’s the elephant in the room,” he said.

Countering those uncertainties, though, is the tremendous support that the Federal Reserve is continuing to provide markets and the economy. So are investors’ rising hopes that a vaccine for COVID-19 could become available as soon as early 2021.

European stock markets rallied broadly. The Germany DAX returned 3.2% and the French CAC 40 rose 2.4%. The FTSE 100 in London gained 1.5%.

In Asia, Japan’s Nikkei 225 rose 1.3%, as did South Korea’s Kospi. The Hang Seng in Hong rose 1%, and stocks in Shanghai slipped 0.1% after China’s statistical bureau reported that industrial profits rose 19% in August from a year earlier, as the economy recovered from the pandemic downturn.

The yield on the 10-year Treasury held steady at 0.66%.


----------



## bigdog

Stocks ended with moderate losses Tuesday as investors waited for the first debate between President Donald Trump and Democratic challenger Joe Biden.

Banks, energy companies and stocks that depend on consumer spending had some of the biggest losses. The price of oil fell 3.2%, dragging much of the energy sector down with it.

Some technology stocks, which have long been the biggest driver of this year's stock market moves, posted gains. Advanced Micro Devices closed up nearly 3% and Facebook rose nearly 2%. Twitter closed up 1.3%.

The Trump-Biden debate comes as coronavirus deaths worldwide crossed 1 million. Cases in the U.S. are on the rise again as states attempt to reopen schools and factories. Tens of millions of Americans remain out of work.

Investors remain uncertain whether the recovery that happened over the summer was sustainable, and whether the newest surge of cases will be as dramatic as the one in June. The uncertainty has been a big reason why stocks have struggled in September, after rallying the entire summer. The S&P 500 is on track to fall 4.7% this month, it's worst month since March when the stock market plunged sharply as the coronavirus pandemic spread to the U.S.

*ASX 200 expected to tumble.*

It looks set to be a tough day of trade for the ASX 200 on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 52 points or 0.9% lower this morning. This follows declines on Wall Street which ended a three-day winning streak. The Dow Jones fell 0.5%, the S&P 500 dropped 0.5%, and the Nasdaq edged 0.3% lower.











https://www.usnews.com/news/busines...-mixed-after-wall-st-rally-ahead-of-us-debate

*Stocks End Lower Ahead of First Debate Between Trump, Biden*
*Stocks ended with moderate losses Tuesday as investors waited for the first debate between President Donald Trump and Democratic challenger Joe Biden.*
By Associated Press, Wire Service Content Sept. 29, 2020, at 5:21 p.m.

By KEN SWEET and DAMIAN J. TROISE, AP Business Writers

Stocks ended with moderate losses Tuesday as investors waited for the first debate between President Donald Trump and Democratic challenger Joe Biden.

Banks, energy companies and stocks that depend on consumer spending had some of the biggest losses. The price of oil fell 3.2%, dragging much of the energy sector down with it.

Some technology stocks, which have long been the biggest driver of this year's stock market moves, posted gains. Advanced Micro Devices closed up nearly 3% and Facebook rose nearly 2%. Twitter closed up 1.3%.

The Trump-Biden debate comes as coronavirus deaths worldwide crossed 1 million. Cases in the U.S. are on the rise again as states attempt to reopen schools and factories. Tens of millions of Americans remain out of work.

Investors remain uncertain whether the recovery that happened over the summer was sustainable, and whether the newest surge of cases will be as dramatic as the one in June. The uncertainty has been a big reason why stocks have struggled in September, after rallying the entire summer. The S&P 500 is on track to fall 4.7% this month, it's worst month since March when the stock market plunged sharply as the coronavirus pandemic spread to the U.S.

“The market needs the economy to remain open,” said Mark Hackett, chief of investment research at Nationwide. “We can handle bumpy economic data, but markets are not priced for the economy to shut back down.”

The S&P 500 index fell 16.13 points, or 0.5%, to 3,335.47, after rallying the day before. The Dow Jones Industrial Average dropped 131.40 points, or 0.5%, to 27,452.66 and the technology-heavy Nasdaq composite lost 32.28 points, or 0.3%, to 11,085.25.

Markets are watching the November election’s impact on tax policy and how long it might take to determine the winner. The first presidential debate will likely make headlines, Hackett said, but debates generally don’t move the markets much.

“It’s going to get attention and rightfully so, but there’s so much time and motion that’s going to happen between now and November,” he said.

Investors' confidence has been supported by infusions of central bank support into struggling economies and hopes for development of a coronavirus vaccine.

Congress still is arguing over the size of a new support package after additional unemployment benefits expired. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin have agreed to hold another round of stimulus talks. However with the death of Supreme Court Justice Ruth Bader Ginsburg, Congress has redirected much of its attention to President Trump's nominee to replace her.

“I certainly think the markets’ weakness in the past couple of weeks is partially due to the fading hopes for a deal,” Hackett said. “The market has largely come to terms with the low likelihood for a deal to get through.”

The last jobs report before the election will come out on Friday. The number is likely to be not only important for the market to determine whether re-openings are still moving forward, but politically important for both GOP and Democratic messaging heading into the election. Economists expect 850,000 jobs were created in September, with an unemployment rate of 8.2%.


----------



## MrChow

SP500 seems priced for absolute perfection.

To justify 3300 you have to assume:
- Forward Earnings will grow 10% on 2019 for an 180 EPS figure.
- Use the highest Forward PE valuation since Dot Com of 18x.

So basically an optimistic perfect outcome multiplied by an optimistic perfect outcome.

A lot of downside risks over there don't seem to be factored in:
- Flu Season could mean coronavirus effects are yet to peak
- Vaccine assumed to return economy to normal but any complications or delays create downside
- Biden wins and increases company taxes cutting -10% off Forward EPS
- Election wildcards


----------



## bigdog

U.S. stocks rallied on Wednesday, but only after zooming up, down and back up again in a fitting end to what was a wild month and quarter for Wall Street.

Prospects for additional support from Congress for the economy helped drive the day’s trading, as they have for weeks. The S&P 500 shot to a gain of as much as 1.7% after Treasury Secretary Steven Mnuchin told CNBC that he would talk with House Speaker Nancy Pelosi about a potential deal in the afternoon, “and I hope we can get something done.”

But the gains nearly vanished as pessimism rose about Washington’s ability to get past its partisanship and send economic aid that investors say is crucial. The S&P 500 hit its low for the day just after Pelosi said she and Mnuchin “found areas where we are seeking further clarification,” though she said talks will continue.

By the end of trading, momentum had returned, and the S&P 500 rose 27.53 points, or 0.8%, to 3,363.00. The Dow Jones Industrial Average gained 329.04, or 1.2%, to 27,781.70, and the Nasdaq composite added 82.26, or 0.7%, to 11,167.51.

It was the last day of a strong quarter for the market, where the S&P 500 rallied 8.5% to follow up on its 20% surge in the spring. Continued support from the Federal Reserve helped drive the gains, as the central bank leaned further into the whatever-it-takes approach taken to support markets and the economy. After already cutting interest rates to nearly zero, the Fed said during the quarter that it may keep interest rates low even after inflation runs above its target level.

But momentum slowed sharply at the end of the quarter, and the S&P 500 lost 3.9% in September for its first monthly loss since the market was selling off in March. A long list of worries dogged Wall Street, headlined by concerns that the Big Tech stocks dominating the market simply got too expensive following their tremendous run to records.

Other worries include rising tensions between the United States and China, as well as the uncertainties swirling around the upcoming U.S. elections.

Trading has also been notably erratic recently, with momentum veering sharply in several different directions during a single day.

On Wednesday, the S&P 500 careened between a gain of 0.1% and 1.7% for a total spread of 1.6 percentage points. That was typical for the month, marking the median for September. It’s also twice as wide as the median over the last 10 years, 0.8 percentage points.

*ASX 200 expected to rebound.*

The ASX 200 is expected to rebound on Thursday following a strong night on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 11 points or 0.2% higher this morning. Overnight the Dow Jones rose 1.2%, the S&P 500 climbed 0.8%, and the Nasdaq pushed 0.75% higher.










https://www.usnews.com/news/busines...xed-after-trump-biden-debate-data-lifts-china

*Wall Street Rallies to Close Out Strong, but Wild Quarter*
*Stocks rallied on Wall Street Wednesday, but only after zooming up, down and back up again in a fitting end to a wild month and quarter.*
By Associated Press, Wire Service Content Sept. 30, 2020, at 5:11 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — U.S. stocks rallied on Wednesday, but only after zooming up, down and back up again in a fitting end to what was a wild month and quarter for Wall Street.

Prospects for additional support from Congress for the economy helped drive the day’s trading, as they have for weeks. The S&P 500 shot to a gain of as much as 1.7% after Treasury Secretary Steven Mnuchin told CNBC that he would talk with House Speaker Nancy Pelosi about a potential deal in the afternoon, “and I hope we can get something done.”

But the gains nearly vanished as pessimism rose about Washington’s ability to get past its partisanship and send economic aid that investors say is crucial. The S&P 500 hit its low for the day just after Pelosi said she and Mnuchin “found areas where we are seeking further clarification,” though she said talks will continue.

By the end of trading, momentum had returned, and the S&P 500 rose 27.53 points, or 0.8%, to 3,363.00. The Dow Jones Industrial Average gained 329.04, or 1.2%, to 27,781.70, and the Nasdaq composite added 82.26, or 0.7%, to 11,167.51.

It was the last day of a strong quarter for the market, where the S&P 500 rallied 8.5% to follow up on its 20% surge in the spring. Continued support from the Federal Reserve helped drive the gains, as the central bank leaned further into the whatever-it-takes approach taken to support markets and the economy. After already cutting interest rates to nearly zero, the Fed said during the quarter that it may keep interest rates low even after inflation runs above its target level.

But momentum slowed sharply at the end of the quarter, and the S&P 500 lost 3.9% in September for its first monthly loss since the market was selling off in March. A long list of worries dogged Wall Street, headlined by concerns that the Big Tech stocks dominating the market simply got too expensive following their tremendous run to records.

Other worries include rising tensions between the United States and China, as well as the uncertainties swirling around the upcoming U.S. elections.

Trading has also been notably erratic recently, with momentum veering sharply in several different directions during a single day.

On Wednesday, the S&P 500 careened between a gain of 0.1% and 1.7% for a total spread of 1.6 percentage points. That was typical for the month, marking the median for September. It’s also twice as wide as the median over the last 10 years, 0.8 percentage points.

The tumult has come as the economy’s strong rebound earlier this year following the easing-up of lockdowns has slowed. The number of layoffs has remained stubbornly high, for example, and The Walt Disney Co. said late Tuesday that it plans to lay off 28,000 workers because of government restrictions due to the pandemic that are hurting its theme parks.

Other areas of the economy have also seen growth slow since the expiration of extra unemployment benefits and other economic aid that Congress approved earlier. .

“We all knew that the small businessman or restaurant owner was getting hurt, but this takes it to a different level of just how serious it is,” said J.J. Kinahan, chief strategist with TD Ameritrade. “It maybe changes the narrative a bit.”

A report from payroll processor ADP on Wednesday gave some encouragement, though. It said hiring by private employers accelerated this month, with 749,000 jobs added versus economists’ expectations for 605,000. Other economic reports on Wednesday also came in stronger than expected, including one on business activity in the Chicago area.

That raises hopes for the federal government’s more comprehensive jobs report, which arrives on Friday. For that, economists had been expecting to see hiring slowed to 850,000 from 1.4 million in August.

This month's jobs report will take on even more importance than usual because it will be the final one released before Election Day in November.

Tuesday night’s debate between President Donald Trump and the Democratic nominee, Joe Biden, was the first of this election season, and it amplified some of the market’s concerns. Trump said it may take months to learn the election’s results, and such a long period of uncertainty could make an already shaky market even more volatile.

But several analysts said they didn’t see the debate having a big effect on the stock market, whose path depends much more on what happens with corporate profits, interest rates and the coronavirus pandemic than who sits in the White House.

“Last night was pretty much a nothing burger from a market perspective, other than perhaps suggesting more uncertainty in the weeks ahead, which could continue to drive volatility,” said Mike Loewengart, managing director of investment strategy at E-Trade Financial.

Shares of data-mining company Palantir jumped 31% to $9.50 on their first day of trading. The company was born 17 ago with the help of CIA seed money. Palantir isn’t selling new shares to raise money. Instead, it’s listing existing shares for public trading.

European markets closed lower, and Asian markets ended mixed.

The yield on the 10-year Treasury rose to 0.68% from 0.66% late Tuesday.


----------



## bigdog

U.S. stocks climbed on Thursday, but only after pinballing through another shaky day of trading, as Wall Street waits to see if Washington can get past its partisanship to deliver another economic rescue package.

The S&P 500 ended the day 17.80 points higher, or 0.5%, at 3,380.80, but it careened from an early 1% gain to a slight loss before arriving there.

The Dow Jones Industrial Average rose 35.20 points, or 0.1%, to 27,816.90 after earlier bouncing between a gain of 259 points and a loss of 112. The Nasdaq composite rose a healthier 159.00 points or 1.4%, to 11,326.51 as big tech-oriented stocks propped up the market, much as they have through the pandemic.

Such big swings have become typical recently, as investors handicap the chances of a deal on Capitol Hill to send more cash to Americans, restore jobless benefits for laid-off workers and deliver assistance to airlines and other industries hit particularly hard by the pandemic.

House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin continued their talks on Thursday, but no breakthrough arrived before stock trading ended on Wall Street. Instead, there were only hopes that were periodically raised and dashed as government officials took turns criticizing each other.

“The market, for lack of really anything else to trade off of, has responded to these headlines on the potential for stimulus,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute.

Data reports released in the morning also painted a mixed picture on the economy, which added to the market’s sloshing around.

One indicated the pace of layoffs across the country may have slowed last week, with the number of workers filing for unemployment benefits falling to 837,000 from 873,000. It’s a larger decline than economists expected, though the number remains incredibly high compared with before the pandemic.

“We’re certainly expecting the employment situation to slowly improve,” Wren said. “Things seem to be moving in the right direction.”

Consumer spending also strengthened by more than expected in August, which is key because it’s the main driver of the U.S. economy. But other reports were more discouraging. Personal incomes weakened by more than expected last month, and growth in the country’s manufacturing sector also fell short of forecasts.

Other warning signs are looming for the economy, which has seen some slowdowns recently after the last round of stimulus approved by Congress expired. The Walt Disney Co. and other major companies have announced even more layoffs this week, and the clock is ticking on Washington to offer more support.

The CEO of American Airlines said that it would reverse the furloughs of 19,000 workers if Washington can reach a deal with $25 billion for airlines “over the next few days.” United Airlines told government leaders that it could also undo the furloughs of 13,000 workers.

United Airline’s stock gained 1.2%, and American Airlines shares rose 2.4%, but only after a turbulent day of ups and downs.

Continued strength for Big Tech stocks helped to lift the market. Amazon, Microsoft, Apple, Netflix, Facebook and Google’s parent company alone accounted for the bulk of the S&P 500′s gain.

The market’s turbulent moves were reminiscent of Wednesday’s, as well as of the last several weeks’, as rising and falling hopes for a deal on Capitol Hill have kept markets shaky.

*ASX 200 expected to fall.*

It looks set to be a disappointing end to the week for the ASX 200 despite a solid night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 26 points or 0.45% lower this morning. Overnight the Dow Jones rose 0.1%, the S&P 500 climbed 0.5%, and the Nasdaq stormed 1.4% higher.










https://apnews.com/article/financia...arkets-china-a030a1dff2b43dea9cc95868f35cf387

*Stocks tick up as Wall Street waits for aid from Washington*

By STAN CHOE and DAMIAN J. TROISE



NEW YORK (AP) — U.S. stocks climbed on Thursday, but only after pinballing through another shaky day of trading, as Wall Street waits to see if Washington can get past its partisanship to deliver another economic rescue package.

The S&P 500 ended the day 17.80 points higher, or 0.5%, at 3,380.80, but it careened from an early 1% gain to a slight loss before arriving there.

The Dow Jones Industrial Average rose 35.20 points, or 0.1%, to 27,816.90 after earlier bouncing between a gain of 259 points and a loss of 112. The Nasdaq composite rose a healthier 159.00 points or 1.4%, to 11,326.51 as big tech-oriented stocks propped up the market, much as they have through the pandemic.

Such big swings have become typical recently, as investors handicap the chances of a deal on Capitol Hill to send more cash to Americans, restore jobless benefits for laid-off workers and deliver assistance to airlines and other industries hit particularly hard by the pandemic.

House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin continued their talks on Thursday, but no breakthrough arrived before stock trading ended on Wall Street. Instead, there were only hopes that were periodically raised and dashed as government officials took turns criticizing each other.

“The market, for lack of really anything else to trade off of, has responded to these headlines on the potential for stimulus,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute.

Data reports released in the morning also painted a mixed picture on the economy, which added to the market’s sloshing around.

One indicated the pace of layoffs across the country may have slowed last week, with the number of workers filing for unemployment benefits falling to 837,000 from 873,000. It’s a larger decline than economists expected, though the number remains incredibly high compared with before the pandemic.

“We’re certainly expecting the employment situation to slowly improve,” Wren said. “Things seem to be moving in the right direction.”

Consumer spending also strengthened by more than expected in August, which is key because it’s the main driver of the U.S. economy. But other reports were more discouraging. Personal incomes weakened by more than expected last month, and growth in the country’s manufacturing sector also fell short of forecasts.

Other warning signs are looming for the economy, which has seen some slowdowns recently after the last round of stimulus approved by Congress expired. The Walt Disney Co. and other major companies have announced even more layoffs this week, and the clock is ticking on Washington to offer more support.

The CEO of American Airlines said that it would reverse the furloughs of 19,000 workers if Washington can reach a deal with $25 billion for airlines “over the next few days.” United Airlines told government leaders that it could also undo the furloughs of 13,000 workers.

United Airline’s stock gained 1.2%, and American Airlines shares rose 2.4%, but only after a turbulent day of ups and downs.

Continued strength for Big Tech stocks helped to lift the market. Amazon, Microsoft, Apple, Netflix, Facebook and Google’s parent company alone accounted for the bulk of the S&P 500′s gain.

The market’s turbulent moves were reminiscent of Wednesday’s, as well as of the last several weeks’, as rising and falling hopes for a deal on Capitol Hill have kept markets shaky.

Investors say another round of economic aid from Congress is crucial given the slowdowns already seen. Mnuchin and Pelosi have worked effectively together in the past, and they helped drive through the previous economic rescue approved by Congress in March. But the country’s partisan divide has only deepened since then, which has stymied progress. The next election is only about a month away.

The yield on the 10-year Treasury fell to 0.67% from 0.69% from late Wednesday after giving up earlier gains.

In Asian markets, trading on the Tokyo Stock Exchange was suspended due to a technical failure in its computer systems.

The Tokyo Stock Exchange said it plans for normal trading to resume on Friday. Officials said trading was halted early Thursday because rebooting the huge system after the malfunction would have caused confusion.

TSE President Koichiro Miyahara repeatedly apologized for the disruption to trading on the world’s third largest exchange, where about 70% of brokerage trading both by value and volume is by foreigners.

The outage on the exchange eclipsed Japan’s main economic news of the day, the first improvement in manufacturing sentiment in three years, despite the pandemic.

Trading in stock markets for South Korea, Hong Kong and mainland China was closed for national holidays.

In Europe, Germany’s DAX fell 0.2%, and France’s CAC 40 rose 0.4%. The FTSE 100 in London rose 0.2%.


----------



## bigdog

Wall Street’s major stock indexes fell on Friday after President Donald Trump tested positive for the coronavirus, but the losses ended up milder than investors braced for early in the morning.

The S&P 500 slumped 1.7% as soon as trading began, only to churn through another turbulent session. By the end of the day, it had trimmed its loss to 1%, down 32.38 points at 3,348.42. Despite the drop, most of the stocks in the index were higher, and the S&P 500 still managed to close out its first winning week in the last five.

The paring of losses came as optimism rose that Washington may be able to get past its partisanship to deliver more support for the economy. House Speaker Nancy Pelosi told airlines in the afternoon to stop furloughing workers because aid for them is imminent. She said a wider rescue package for the economy, one that investors have long been agitating for, could also perhaps be on the way.

The Dow Jones Industrial Average swung from a loss of 433 points to a gain of 44 points through the day. It ended at 27,682.81, down 134.09 points, or 0.5%.

Big technology stocks remained weak, and the Nasdaq composite fell 251.49, or 2.2%, at 11,075.02. It’s a sharp departure from much of the summer, when Big Tech stocks carried the market higher. The tech slump was also the main reason for the S&P 500’s drop.

Treasury yields ticked higher, though, and smaller stocks were also stronger than the rest of the market in a sign of optimism. The Russell 2000 index of small-cap stocks gained 8.09, or 0.5%, to 1,539.30.

Earlier Friday, markets appeared set for a much uglier day. Stock futures and Treasury yields tumbled after Trump tweeted overnight that he and First Lady Melania Trump had tested positive for COVID-19.

Analysts said some of the market’s movements could be explained by investors building up expectations for a Joe Biden victory of the White House, with Election Day a little more than a month away. That could mean higher tax rates and tighter regulations on companies, which would limit profits and hurt stock prices, though it could also raise the odds of more stimulus for the economy.

“To say this potentially could be a big deal is an understatement,” Rabobank said in a commentary. “Anyway, everything now takes a backseat to the latest incredible twist in this US election campaign.”

After the market closed, the White House announced that Trump was “fatigued” and will spend a “few days” at a military hospital on the advice of his physicians. The announcement said that the visit is precautionary and that Trump will work from the hospital’s presidential suite.









https://www.usnews.com/news/busines...ces-sink-after-trump-tests-positive-for-virus

Stocks End Bumpy Day Lower After Trump's Positive Virus Test

Wall Street’s major stock indexes fell on Friday after President Donald Trump tested positive for the coronavirus, but the losses ended up milder than investors braced for early in the morning.

By Associated Press, Wire Service Content Oct. 2, 2020, at 5:40 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — Wall Street’s major stock indexes fell on Friday after President Donald Trump tested positive for the coronavirus, but the losses ended up milder than investors braced for early in the morning.

The S&P 500 slumped 1.7% as soon as trading began, only to churn through another turbulent session. By the end of the day, it had trimmed its loss to 1%, down 32.38 points at 3,348.42. Despite the drop, most of the stocks in the index were higher, and the S&P 500 still managed to close out its first winning week in the last five.

The paring of losses came as optimism rose that Washington may be able to get past its partisanship to deliver more support for the economy. House Speaker Nancy Pelosi told airlines in the afternoon to stop furloughing workers because aid for them is imminent. She said a wider rescue package for the economy, one that investors have long been agitating for, could also perhaps be on the way.

The Dow Jones Industrial Average swung from a loss of 433 points to a gain of 44 points through the day. It ended at 27,682.81, down 134.09 points, or 0.5%.

Big technology stocks remained weak, and the Nasdaq composite fell 251.49, or 2.2%, at 11,075.02. It’s a sharp departure from much of the summer, when Big Tech stocks carried the market higher. The tech slump was also the main reason for the S&P 500’s drop.

Treasury yields ticked higher, though, and smaller stocks were also stronger than the rest of the market in a sign of optimism. The Russell 2000 index of small-cap stocks gained 8.09, or 0.5%, to 1,539.30.

Earlier Friday, markets appeared set for a much uglier day. Stock futures and Treasury yields tumbled after Trump tweeted overnight that he and First Lady Melania Trump had tested positive for COVID-19.

Analysts said some of the market’s movements could be explained by investors building up expectations for a Joe Biden victory of the White House, with Election Day a little more than a month away. That could mean higher tax rates and tighter regulations on companies, which would limit profits and hurt stock prices, though it could also raise the odds of more stimulus for the economy.

“To say this potentially could be a big deal is an understatement,” Rabobank said in a commentary. “Anyway, everything now takes a backseat to the latest incredible twist in this US election campaign.”

After the market closed, the White House announced that Trump was “fatigued” and will spend a “few days” at a military hospital on the advice of his physicians. The announcement said that the visit is precautionary and that Trump will work from the hospital’s presidential suite.

The White House also said Trump had been injected with an experimental antibody drug combination for the virus made by Regeneron. The company's shares rose 3% in after-hours trading.

Trump’s positive COVID-19 test also highlights the continued spread of the pandemic. The potential for a further ramp up in virus infections as the weather turns colder is raising worries that governments may put some more restrictions on businesses.

Also stirring up the market’s movements Friday was the latest report on U.S. jobs growth, which is usually the headline economic data of each month but almost became an afterthought. Employers added fewer jobs last month than economists expected, the third straight month of slower hiring.

The slowdown is yet another sign that the recovery is trailing off, said Mike Zigmont, director of trading and research at Harvest Volatility Management. The numbers don't inspire bullishness, but they could be a brighter signal for more help from Congress.

“If the conclusion is that the economic data disappoints, Wall Street may say that’s added incentive for the next stimulus deal to eventually go through and more quickly,” he said.

All the uncertainty is making an already shaky market even more so. Stocks have been swinging recently amid a raft of open questions for investors: Who will win the election, and what will it mean for the economy? Will the relationship between the world’s two largest economies, the United States and China, keep worsening? Did stocks get too expensive after their 60% surge to record heights through the summer, Big Tech in particular?

In recent days, the dominant question has been whether Washington will be able to get past its partisanship to deliver more aid to the economy.

Extra benefits for laid-off workers and other support for the economy that Congress approved in March has expired, and investors have been clamoring for more assistance. Layoffs have remained stubbornly high across the country, and parts of the economy have slowed with the support from Congress gone.

The House of Representatives passed a Democratic $2.2 trillion package Thursday night, but it has little chance of getting through the Republican Senate. Talks between Democrats and Republicans on a compromise are continuing, but skepticism is high.

Airlines have announced the furloughs of tens of thousands of workers, saying they need more support from Washington as demand for travel has vanished. After Pelosi said in the afternoon that some kind of aid was imminent, their shares shook off earlier losses to climb. American Airlines rose 3.3% and United Airlines climbed 2.4%.

The yield on the 10-year Treasury rose to 0.69% from 0.68% late Thursday, after pulling back from an earlier loss.

In Europe, stocks also trimmed their losses as the day progressed. Trading in Asia was thin, with markets in Shanghai and Hong Kong closed. The Nikkei 225 fell 0.7% after the Tokyo Stock Exchange resumed trading following an all-day outage due to a technical failure.


----------



## bigdog

*ASX 200 expected to rise.*

It looks set to be a very positive start to the week for the Australian share market on Monday. According to the latest SPI futures, the ASX 200 is expected to rise 67 points or 1.15% at the open. This follows a better than feared night of trade on Wall Street on Friday. The Dow Jones fell 0.5%, the S&P 500 dropped 0.95%, and the Nasdaq fell 2.2%. Futures contracts were pointing to more severe declines during afternoon trade on Friday after President Trump announced that he has COVID-19.


----------



## Dona Ferentes

Thanks big dog. A reminder that Markets are open today... Holiday in NSW and nice weather, so out n about, for many.


----------



## bigdog

Wall Street rallied Monday as hopes for economic aid from Washington helped it recover all its knee-jerk losses after learning President Donald Trump tested positive for the coronavirus.

The S&P 500 jumped 60.16 points, or 1.8%, to 3,408.60 amid widespread gains, with nine out of 10 stocks in the index rising. Energy producers and tech companies led the way.

Treasury yields, stocks overseas and oil all climbed after Trump and House Speaker Nancy Pelosi both noted the importance over the weekend of additional support for the economy. The market’s rally accelerated after Trump tweeted in the afternoon that he'll leave the hospital, though his medical team said he “may not entirely be out of the woods yet.”

The Dow Jones Industrial Average rose 465.83 points, or 1.7%, to 28,148.64, and the Nasdaq composite climbed 257.47, or 2.3%, to 11,332.49. Smaller stocks rose even more in an indication of improved market optimism, and the Russell 2000 index jumped 42.67, or 2.8%, to 1,581.96.

The lift follows through on a comeback that helped markets cut their losses on Friday, after Trump’s condition became publicized. Stocks initially tumbled as the jolt of uncertainty raised concerns that a White House victory for Democrat Joe Biden would mean higher taxes and tighter regulations for companies, which could drag down their profits. But analysts said a Democratic sweep of the election could also raise the probability of a big government support plan for the economy, something that investors have been clamoring for since jobless benefits and other stimulus Congress approved in March expired.

The market’s moves on Monday and late Friday suggest investors are anticipating either a large stimulus effort or the increased likelihood of a "blue wave,” said Yousef Abbasi, global market strategist at StoneX.

Stocks got an immediate lift Friday afternoon after Pelosi told airline executives to stop the furloughs of tens of thousands of workers because aid for the industry was “imminent,” either as a stand-alone effort or as part of a wider rescue package. A stand-alone bill for airlines failed to advance in the House on Friday, but hopes remain for a larger effort.

Over the weekend, Trump tweeted from the hospital that the country wants and needs more economic stimulus. “Work together and get it done,” he said on Saturday.

A day later, Pelosi said that the two sides are making progress, but they still haven’t reached a breakthrough. “It just depends on if they understand what we have to do to crush the virus,” she said in an interview on CBS.

A report on Monday said growth for the nation's services industries last month was stronger than economists expected. It's an encouraging piece of data, but it follows a string of mixed reports that have shown some areas of the economy slowing since Congress' last round of aid expired.

“Our dark expectations in the aftermath of the COVID-19 crisis are not coming through,” said Scott Knapp, chief market strategist at CUNA Mutual Group. “The pace of the improvement is slowing, but it's still upward.”

He expects the upcoming election to throw some more volatility into the markets, but not much as investors seem somewhat indifferent to the potential outcome. He said a key signal to that indifference was the market's muted response to the news that Trump had contracted COVID-19.

“It’s pretty difficult to overstate how understated the market’s reaction was,” Knapp said.

Shares of Regeneron rose 7.1% after Trump received an experimental drug from the company that supplies antibodies to help the immune system fight the virus.

Trump on Friday also began a five-day course of remdesivir, a Gilead Sciences drug currently used for moderately and severely ill patients. The drugs work in different ways — the antibodies help the immune system rid the body of virus, and remdesivir curbs the virus’ ability to multiply.

Gilead rose 2.3%.

MyoKardia, a biopharmaceutical company, surged 57.8% after Bristol Myers Squibb said it would buy the 8-year-old company for $13.1 billion, or $225 per share in cash.

*ASX 200 expected to rise again.*

The Australian share market looks set to continue its positive run on Tuesday. According to the latest SPI futures, the ASX 200 is expected to rise 29 points or 0.5% at the open. This follows a strong start to the week on Wall Street, which saw the Dow Jones rise 1.7%, the S&P 500 climb 1.8%, and the Nasdaq storm 2.25% higher. News that President Trump is being discharged from hospital helped drive markets higher.

*Reserve Bank meeting.*

This afternoon the Reserve Bank will hold its October meeting and make a decision on the cash rate. According to the latest cash rate futures, the market is currently pricing in a 67% probability of a rate cut at the meeting. A number of economists are tipping the Reserve Bank to make a partial cut from 0.25% down to 0.1%.











https://www.usnews.com/news/busines...shares-rise-on-optimism-about-trumps-recovery

*Stocks Jump on Stimulus Hopes, Trump's Hospital Departure*

Stocks closed broadly higher Monday as hopes for economic aid from Washington helped Wall Street recover its losses from its initial, fearful reaction after learning that President Donald Trump tested positive for the coronavirus.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — Wall Street rallied Monday as hopes for economic aid from Washington helped it recover all its knee-jerk losses after learning President Donald Trump tested positive for the coronavirus.

The S&P 500 jumped 60.16 points, or 1.8%, to 3,408.60 amid widespread gains, with nine out of 10 stocks in the index rising. Energy producers and tech companies led the way.

Treasury yields, stocks overseas and oil all climbed after Trump and House Speaker Nancy Pelosi both noted the importance over the weekend of additional support for the economy. The market’s rally accelerated after Trump tweeted in the afternoon that he'll leave the hospital, though his medical team said he “may not entirely be out of the woods yet.”

The Dow Jones Industrial Average rose 465.83 points, or 1.7%, to 28,148.64, and the Nasdaq composite climbed 257.47, or 2.3%, to 11,332.49. Smaller stocks rose even more in an indication of improved market optimism, and the Russell 2000 index jumped 42.67, or 2.8%, to 1,581.96.

The lift follows through on a comeback that helped markets cut their losses on Friday, after Trump’s condition became publicized. Stocks initially tumbled as the jolt of uncertainty raised concerns that a White House victory for Democrat Joe Biden would mean higher taxes and tighter regulations for companies, which could drag down their profits. But analysts said a Democratic sweep of the election could also raise the probability of a big government support plan for the economy, something that investors have been clamoring for since jobless benefits and other stimulus Congress approved in March expired.

The market’s moves on Monday and late Friday suggest investors are anticipating either a large stimulus effort or the increased likelihood of a "blue wave,” said Yousef Abbasi, global market strategist at StoneX.

Stocks got an immediate lift Friday afternoon after Pelosi told airline executives to stop the furloughs of tens of thousands of workers because aid for the industry was “imminent,” either as a stand-alone effort or as part of a wider rescue package. A stand-alone bill for airlines failed to advance in the House on Friday, but hopes remain for a larger effort.

Over the weekend, Trump tweeted from the hospital that the country wants and needs more economic stimulus. “Work together and get it done,” he said on Saturday.

A day later, Pelosi said that the two sides are making progress, but they still haven’t reached a breakthrough. “It just depends on if they understand what we have to do to crush the virus,” she said in an interview on CBS.

A report on Monday said growth for the nation's services industries last month was stronger than economists expected. It's an encouraging piece of data, but it follows a string of mixed reports that have shown some areas of the economy slowing since Congress' last round of aid expired.

“Our dark expectations in the aftermath of the COVID-19 crisis are not coming through,” said Scott Knapp, chief market strategist at CUNA Mutual Group. “The pace of the improvement is slowing, but it's still upward.”

He expects the upcoming election to throw some more volatility into the markets, but not much as investors seem somewhat indifferent to the potential outcome. He said a key signal to that indifference was the market's muted response to the news that Trump had contracted COVID-19.

“It’s pretty difficult to overstate how understated the market’s reaction was,” Knapp said.

Shares of Regeneron rose 7.1% after Trump received an experimental drug from the company that supplies antibodies to help the immune system fight the virus.

Trump on Friday also began a five-day course of remdesivir, a Gilead Sciences drug currently used for moderately and severely ill patients. The drugs work in different ways — the antibodies help the immune system rid the body of virus, and remdesivir curbs the virus’ ability to multiply.

Gilead rose 2.3%.

MyoKardia, a biopharmaceutical company, surged 57.8% after Bristol Myers Squibb said it would buy the 8-year-old company for $13.1 billion, or $225 per share in cash.

On the losing side was DraftKings, which fell 5.1%. It and some of its existing investors are selling 32 million shares of the company's stock after it nearly sextupled in 2020.

In Asian trading, Japan’s Nikkei 225 gained 1.2%, South Korea’s Kospi jumped 1.3% and Hong Kong’s Hang Seng rose 1.3%.

Fujitsu President Takahito Tokita apologized Monday for the breakdown last week in the Tokyo Stock Exchange’s trading system, which the Japanese company had developed. Speaking during an online webinar, he promised to work with the exchange to prevent a recurrence of the malfunction in Fujitsu’s Arrowhead system, which caused all trading to be halted in Tokyo on Oct. 1.

By Friday, trading resumed after the problem was fixed.

In Europe, Germany’s DAX returned 1.1%, and France’s CAC 40 rose 1%. The FTSE 100 in London added 0.7%.

The yield on the 10-year Treasury rose to 0.76% from 0.70% late Friday.


----------



## bigdog

Stocks dropped on Wall Street Tuesday after President Donald Trump ordered a stop to negotiations with Democrats on a coronavirus economic stimulus bill until after the election.

The S&P 500 index slid 1.4% after having been up 0.7% prior to the president’s announcement, which he made on twitter about an hour before the close of trading. The late-afternoon pullback erased most of the benchmark index's gains from a market rally a day earlier.

In a series of tweets, Trump said: “I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major stimulus bill that focuses on hardworking Americans and small business.” He also accused Speaker Nancy Pelosi of not negotiating in good faith.

The comments from the president came just hours after Federal Reserve Chair Jerome Powell urged Congress to come through with more aid, saying that too little support “would lead to a weak recovery, creating unnecessary hardship for households and businesses.”

Optimism that Democrats and Republicans would reach a deal on more stimulus ahead of the Nov. 3 elections had helped lift the stock market recently. Now, investors face the prospect that more aid may not come until next year, after the new Congress is seated, said Willie Delwiche, investment strategist at Baird.

“This isn’t just pushing it off until after the election, this realistically is pushing it off until spring,” Delwiche said. "I don't think this is just a one-day financial markets reaction. This really goes to the health of the recovery.”

The S&P 500 fell 47.66 points to 3,360.97. The Dow Jones Industrial Average dropped 375.88 points, or 1.3%, to 27,772.76. It had been up by more than 200 points. The Nasdaq composite lost 177.88 points, or 1.6%, to 11,154.60. The tech-heavy index had been on pace for a 0.5% gain before Trump cut off the stimulus talks.

Small stocks also fell, but less than the rest of the market. The Russell 2000 index of small-cap stocks gave up 4.67 points, or 0.3%, to 1,577.29.

Stocks had been drifting between small gains and losses for much of the day before gaining momentum into the late afternoon, then Trump’s tweets knocked the market into reverse gear.

The move to nix the negotiations with Democrats dashes Wall Street’s hopes that another round of stimulus would soon be on the way. Bitter partisanship on Capitol Hill has been preventing a compromise on more aid for the economy, which has been punched into a recession by shutdowns related to the coronavirus pandemic. Reports on the economy have been mixed recently, as some areas show a slowdown after extra unemployment benefits and other stimulus earlier approved by Congress expired.

Powell has repeatedly urged Congress to provide additional aid, saying the Fed can’t prop up the economy by itself, even with interest rates at record lows. “The expansion is still far from complete,” Powell said in a speech to the National Association for Business Economics, group of corporate and academic economists.

Without more stimulus, economists expect that growth will slow significantly in the final three months of the year. Last month, Goldman Sachs slashed its forecast for growth in the fourth quarter to just 3% at an annual rate, down from a previous forecast of 6%, because they no longer expected an aid package to be approved. That would leave the U.S. economy 2.5% smaller at the end of 2020 than a year earlier, even after a large rebound in the July-September quarter.

*ASX 200 expected to drop lower.*

The ASX 200 looks set to end its winning streak on Wednesday. According to the latest SPI futures, the benchmark index is poised to open the day 8 points or 0.1% lower. This follows a poor night of trade on Wall Street. Late in the session the Dow Jones is down 1.1%, the S&P 500 is 1.1% lower, and the Nasdaq is tumbling 1.2% lower. News that President Trump is calling off COVID-19 stimulus talks until after the election led to the selloff.

*Federal Budget reaction.*

A number of ASX 200 shares will be on watch today after the release of the Federal Budget last night. Retail shares may be among the biggest winners after the government cut personal tax rates to put more funds in consumers’ pockets. Elsewhere, R&D tax incentives have been left untouched, manufacturers have been allocated $1.5 billion in grants, and states have been given $10 billion to boost infrastructure projects. All in all, Australia’s debt is expected to reach almost $1 trillion in the coming years.











https://www.usnews.com/news/busines...gain-on-stimulus-hopes-trump-leaving-hospital

*Stocks Drop After Trump Calls off Talks on Economic Stimulus*
*Stocks dropped on Wall Street Tuesday after President Donald Trump ordered aides to stop negotiating with Democrats over another round of aid for the economy until after the election.*
By Associated Press, Wire Service Content Oct. 6, 2020, at 5:03 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks dropped on Wall Street Tuesday after President Donald Trump ordered a stop to negotiations with Democrats on a coronavirus economic stimulus bill until after the election.

The S&P 500 index slid 1.4% after having been up 0.7% prior to the president’s announcement, which he made on twitter about an hour before the close of trading. The late-afternoon pullback erased most of the benchmark index's gains from a market rally a day earlier.

In a series of tweets, Trump said: “I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major stimulus bill that focuses on hardworking Americans and small business.” He also accused Speaker Nancy Pelosi of not negotiating in good faith.

The comments from the president came just hours after Federal Reserve Chair Jerome Powell urged Congress to come through with more aid, saying that too little support “would lead to a weak recovery, creating unnecessary hardship for households and businesses.”

Optimism that Democrats and Republicans would reach a deal on more stimulus ahead of the Nov. 3 elections had helped lift the stock market recently. Now, investors face the prospect that more aid may not come until next year, after the new Congress is seated, said Willie Delwiche, investment strategist at Baird.

“This isn’t just pushing it off until after the election, this realistically is pushing it off until spring,” Delwiche said. "I don't think this is just a one-day financial markets reaction. This really goes to the health of the recovery.”

The S&P 500 fell 47.66 points to 3,360.97. The Dow Jones Industrial Average dropped 375.88 points, or 1.3%, to 27,772.76. It had been up by more than 200 points. The Nasdaq composite lost 177.88 points, or 1.6%, to 11,154.60. The tech-heavy index had been on pace for a 0.5% gain before Trump cut off the stimulus talks.

Small stocks also fell, but less than the rest of the market. The Russell 2000 index of small-cap stocks gave up 4.67 points, or 0.3%, to 1,577.29.

Stocks had been drifting between small gains and losses for much of the day before gaining momentum into the late afternoon, then Trump’s tweets knocked the market into reverse gear.

The move to nix the negotiations with Democrats dashes Wall Street’s hopes that another round of stimulus would soon be on the way. Bitter partisanship on Capitol Hill has been preventing a compromise on more aid for the economy, which has been punched into a recession by shutdowns related to the coronavirus pandemic. Reports on the economy have been mixed recently, as some areas show a slowdown after extra unemployment benefits and other stimulus earlier approved by Congress expired.

Powell has repeatedly urged Congress to provide additional aid, saying the Fed can’t prop up the economy by itself, even with interest rates at record lows. “The expansion is still far from complete,” Powell said in a speech to the National Association for Business Economics, group of corporate and academic economists.

Without more stimulus, economists expect that growth will slow significantly in the final three months of the year. Last month, Goldman Sachs slashed its forecast for growth in the fourth quarter to just 3% at an annual rate, down from a previous forecast of 6%, because they no longer expected an aid package to be approved. That would leave the U.S. economy 2.5% smaller at the end of 2020 than a year earlier, even after a large rebound in the July-September quarter.

“You’re going to see quite a significant drag on growth,” said Gregory Daco, chief U.S. economist at Oxford Economics, a consulting firm. It “would really risk a double-dip recession.”

The stimulus cutoff coincides with a slowdown in hiring, as employers added 661,000 jobs in September, the government said Friday. That was down from 1.5 million in August and 1.8 million in July.

The market’s slide comes a day after the S&P 500 posted its best day in more than three weeks. Other stock markets around the world made mostly modest gains. Longer-term Treasury yields veered lower after Trump's remarks. They had earlier been hanging close to their highest levels in months.

Tuesday's selling was widespread, led by technology stocks and companies that rely on consumer spending. Utilities were the only gainers among the 11 sectors in the S&P 500.

A report on Tuesday showed that U.S. employers advertised slightly fewer job openings in August than the prior month. But the number was nevertheless better than economists expected.

Trading on Wall Street has gotten shakier recently as investors contend with a long list of uncertainties, from Trump’s COVID-19 diagnosis to waxing and waning expectations about Congress’ ability to deliver another round of stimulus for the economy.

The S&P 500 jumped 1.8% on Monday after Trump said he’s returning to the White House to complete his recovery from the coronavirus, though his medical team said he’s not yet fully “out of the woods.”

Several big challenges lie ahead of markets. Chief among them is the still-raging pandemic, as so clearly illustrated by Trump’s stay in the hospital. The worry is that a ramp-up in infections could cause governments to bring back some of the restrictions they put on businesses early this year, which sent the economy hurtling into a recession.

“We’re on the eve of earnings season and people are reasonably undecided as to whether the correction that started in September has further to run,” said Julian Emanuel, BTIG chief equity and derivatives strategist.

The upcoming election also still means a host of uncertainty about tax rates and regulations on businesses, while tensions between the United States and China continue to simmer.

The yield on the 10-year Treasury note fell to 0.75% from 0.78% late Monday. While that’s still very low, the yield has been generally climbing since dropping close to 0.50% in early August.

European and Asian markets closed higher.


----------



## bigdog

Stocks closed broadly higher on Wall Street Wednesday after President Donald Trump appeared to backtrack on his decision to halt talks on another rescue effort for the economy.

The S&P 500 climbed 1.7% after Trump sent a series of tweets late Tuesday saying he’s open to sending out $1,200 payments to Americans, as well as limited programs to prop up the airline industry and small businesses.

The tweets came just hours after Trump sent the market into a sudden tailspin with his declaration that his representatives should halt talks with Democrats on a broad stimulus effort for the economy until after the election, saying House Speaker Nancy Pelosi had been negotiating in bad faith. The stakes are high, as economists, investors and the chair of the Federal Reserve all say the economy needs another dose of support following the expiration of weekly jobless benefits and other stimulus Congress approved earlier this year.

“What we’ve seen over the last 24 hours is just confirmation that the market is really addicted to stimulus from the government," said Sal Bruno, chief investment officer at IndexIQ. "When it thinks it’s not getting it, it sells off, and when it looks like there’s a possibility for that it rises, as we’ve seen today.”

The S&P 500 index rose 58.49 points to 3,419.44, while the Dow Jones Industrial Average gained 530.70 points, or 1.9%, to 28,303.46.

The Nasdaq composite climbed 210 points, or 1.9%, to 11,364.60, despite a call by Democratic lawmakers for Congress to rein in the Big Tech companies that dominate it and other indexes. The proposal, which follows a 15-month investigation by a House Judiciary Committee panel, could make it harder for Amazon, Apple, Facebook and Google's parent company to acquire others and impose new rules to safeguard competition.

Amazon rose 3.1%, and Apple climbed 1.7%. Google's parent company added 0.6%, and Facebook slipped 0.2%.

Still, much of the market’s attention remains fixed on the prospects for more stimulus for the economy from Washington. Wednesday's gains helped the S&P 500 recoup all of its loss from the day before, when Trump’s tweets suddenly sent it from a 0.7% gain to a 1.4% loss.

Just a few hours before Trump made his announcement on Tuesday to halt negotiations, Federal Reserve Chair Jerome Powell had asked Congress to come through with more aid. He said that too little support “would lead to a weak recovery, creating unnecessary hardship.”

Some analysts characterized Trump’s move as likely a negotiating ploy.

“I do not believe hopes of a stimulus deal are now gone forever,” said Jeffrey Halley of trading and research firm Oanda. “One of Mr. Trump’s favorite negotiating tactics, judging by past actions, is to walk away from the negotiating table abruptly. The intention being to frighten the other side into concessions.”

In the longer term, many investors say a big stimulus package may still be possible regardless of what Trump says. A Democratic sweep of the upcoming elections would likely clear the way for a big government program after the transfer of power, and Wall Street has begun to see a blue wave as more likely than before.

*ASX 200 expected to rise again.*

It looks set to be another positive day of trade for the ASX 200 index. According to the latest SPI futures, the benchmark index is expected to rise 25 points or 0.4% at the open. This follows a particularly positive night of trade on Wall Street after President Trump brought COVID stimulus talks back to the table. In late trade the Dow Jones is up 2%, the S&P 500 is 1.8% higher, and the Nasdaq is climbing 1.9%.










https://www.usnews.com/news/busines...her-after-trump-signals-openness-to-virus-aid

*Stocks Rise as Trump Tweets on Stimulus Keep Market Spinning*
*Stocks closed higher Wednesday after President Donald Trump appeared to backtrack on his decision to halt talks on another rescue effort for the economy.*
By Associated Press, Wire Service Content Oct. 7, 2020, at 4:38 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks closed broadly higher on Wall Street Wednesday after President Donald Trump appeared to backtrack on his decision to halt talks on another rescue effort for the economy.

The S&P 500 climbed 1.7% after Trump sent a series of tweets late Tuesday saying he’s open to sending out $1,200 payments to Americans, as well as limited programs to prop up the airline industry and small businesses.

The tweets came just hours after Trump sent the market into a sudden tailspin with his declaration that his representatives should halt talks with Democrats on a broad stimulus effort for the economy until after the election, saying House Speaker Nancy Pelosi had been negotiating in bad faith. The stakes are high, as economists, investors and the chair of the Federal Reserve all say the economy needs another dose of support following the expiration of weekly jobless benefits and other stimulus Congress approved earlier this year.

“What we’ve seen over the last 24 hours is just confirmation that the market is really addicted to stimulus from the government," said Sal Bruno, chief investment officer at IndexIQ. "When it thinks it’s not getting it, it sells off, and when it looks like there’s a possibility for that it rises, as we’ve seen today.”

The S&P 500 index rose 58.49 points to 3,419.44, while the Dow Jones Industrial Average gained 530.70 points, or 1.9%, to 28,303.46.

The Nasdaq composite climbed 210 points, or 1.9%, to 11,364.60, despite a call by Democratic lawmakers for Congress to rein in the Big Tech companies that dominate it and other indexes. The proposal, which follows a 15-month investigation by a House Judiciary Committee panel, could make it harder for Amazon, Apple, Facebook and Google's parent company to acquire others and impose new rules to safeguard competition.

Amazon rose 3.1%, and Apple climbed 1.7%. Google's parent company added 0.6%, and Facebook slipped 0.2%.

Still, much of the market’s attention remains fixed on the prospects for more stimulus for the economy from Washington. Wednesday's gains helped the S&P 500 recoup all of its loss from the day before, when Trump’s tweets suddenly sent it from a 0.7% gain to a 1.4% loss.

Just a few hours before Trump made his announcement on Tuesday to halt negotiations, Federal Reserve Chair Jerome Powell had asked Congress to come through with more aid. He said that too little support “would lead to a weak recovery, creating unnecessary hardship.”

Some analysts characterized Trump’s move as likely a negotiating ploy.

“I do not believe hopes of a stimulus deal are now gone forever,” said Jeffrey Halley of trading and research firm Oanda. “One of Mr. Trump’s favorite negotiating tactics, judging by past actions, is to walk away from the negotiating table abruptly. The intention being to frighten the other side into concessions.”

In the longer term, many investors say a big stimulus package may still be possible regardless of what Trump says. A Democratic sweep of the upcoming elections would likely clear the way for a big government program after the transfer of power, and Wall Street has begun to see a blue wave as more likely than before.

Airlines jumped to some of the day’s bigger gains after Trump singled out the industry, asking Congress to “IMMEDIATELY” approve $25 billion for them. Last week, Pelosi had told airline executives to halt the furloughs of tens of thousands of workers with the promise that aid for them was imminent, though a proposal by House Democrats to give the airline industry $28.8 billion failed to advance.

United Airlines Holdings and American Airlines Group climbed 4.3%. Delta Air Lines pulled 3.5% higher.

The S&P 500 rose broadly, with technology stocks making the biggest gains. Other areas that would benefit most from a strengthening economy were also climbing, including retailers and travel-related companies.

“The market’s just been relentlessly led by long-duration growth stocks,” said Barry Bannister, head of institutional equity strategy at Stifel. “The big question is are we going to see some signs of a shift to economic growth beneficiaries.”

Smaller stocks also rose more than the rest of the market, an indication of rising optimism about the economy’s prospects. The Russell 2000 index of small-cap stocks climbed 33.75 points, or 2.1%, to 1,611.04.

The 360-degree spin for Wall Street in less than 24 hours is just the latest bump in its shaky run since early last month. After plunging nearly 34% early this year on worries about the coronavirus pandemic and the recession it would cause, the S&P 500 rallied back to record heights thanks to tremendous aid from the Federal Reserve and Congress, along with signs of strengthening in the economy.

It's been struggling since setting an all-time high in early September on a range of worries. Besides the clouded prospects for more stimulus from a bitterly divided Congress when parts of the economy have begun to slow, investors are also worried about whether the continuing pandemic will lead governments to put more restrictions on businesses. Tensions between the United States and China are still simmering, and stocks still look too expensive in the eyes of some critics despite their recent pullback.

The yield on the 10-year Treasury rose to 0.78% from 0.76% late Tuesday. European and Asian markets ended mixed.


----------



## bigdog

Stocks rose for the second day in a row Thursday, reflecting hope on Wall Street that Washington can approve more aid for the economy and encouragement from a report that suggests the pace of layoffs is slowing a bit, even though it remains incredibly high.

The S&P 500 climbed 0.8%, adding to its solid gains from a day earlier, when President Donald Trump apparently backtracked on his decision to halt talks on more aid for the economy. He said in a televised interview Thursday morning that “very productive” talks have begun on stimulus.

Stocks have been particularly rocky since early September, swerving on worries about everything from too-expensive prices to the still-raging pandemic, but the S&P 500 has been generally climbing the last two weeks and is on pace for its best week since August.

Resurgent optimism about the possibility that the Democrats and Republicans will deliver another economic aid package has kept investors in a buying mood the past couple of days.

“The markets hope that both sides have sort of given their opening bids and now they can meet somewhere in the middle and do so fairly quickly,” said J.J. Kinahan, chief strategist with TD Ameritrade.

The S&P 500 index rose 27.38 points to 3,446.83. The Dow Jones Industrial Average gained 122.05 points, or 0.4%, to 28,425.51. The Nasdaq composite picked up 56.38 points, or 0.5%, to 11,420.98.

Small company stocks fared better than the rest of the market. The Russell 2000 index of small-cap stocks climbed 17.51 points, or 1.1%, to 1,628.55. Global stock indexes also closed higher.

Banks, technology and communication companies accounted for much of the broad gains. Energy stocks notched the biggest gain as the price of U.S. crude oil climbed more than 3%. Occidental Petroleum climbed 8.8%, the biggest gainer in the S&P 500.

A government report showed that 840,000 workers applied for unemployment benefits last week. That’s down slightly from 849,000 the prior week, though it’s still remarkably high compared with history. It also was slightly worse than economists were expecting, 837,000.

“The important thing was we continue to see less people filing,” Kinahan said.

Still, several areas of the economy have been slowing recently after supplemental weekly unemployment benefits and other stimulus for the economy approved by Congress earlier this year expired. That has investors focused on whether Congress can deliver more aid. So far, bitter partisanship on Capitol Hill has been preventing a deal.

“The market is vulnerable to the gyrations of the political back-and-forth over a relief package,” said Quincy Krosby, chief market strategist at Prudential Financial.

*ASX 200 expected to rise again.*

The ASX 200 index could end a spectacular week with another gain on Friday. According to the latest SPI futures, the benchmark index is expected to rise 14 points or 0.25% at the open. This follows another positive night of trade on Wall Street. In late trade the Dow Jones is up 0.4%, the S&P 500 is 0.8% higher, and the Nasdaq has risen 0.5%. The Dow Jones is now trading at its highest level in over a month










https://apnews.com/article/election...cial-markets-2356b191af80d870431d72cac892d62a

*Stocks climb again on Wall Street with hopes for stimulus*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA45 minutes ago

Stocks rose for the second day in a row Thursday, reflecting hope on Wall Street that Washington can approve more aid for the economy and encouragement from a report that suggests the pace of layoffs is slowing a bit, even though it remains incredibly high.

The S&P 500 climbed 0.8%, adding to its solid gains from a day earlier, when President Donald Trump apparently backtracked on his decision to halt talks on more aid for the economy. He said in a televised interview Thursday morning that “very productive” talks have begun on stimulus.

Stocks have been particularly rocky since early September, swerving on worries about everything from too-expensive prices to the still-raging pandemic, but the S&P 500 has been generally climbing the last two weeks and is on pace for its best week since August.

Resurgent optimism about the possibility that the Democrats and Republicans will deliver another economic aid package has kept investors in a buying mood the past couple of days.

“The markets hope that both sides have sort of given their opening bids and now they can meet somewhere in the middle and do so fairly quickly,” said J.J. Kinahan, chief strategist with TD Ameritrade.

The S&P 500 index rose 27.38 points to 3,446.83. The Dow Jones Industrial Average gained 122.05 points, or 0.4%, to 28,425.51. The Nasdaq composite picked up 56.38 points, or 0.5%, to 11,420.98.

Small company stocks fared better than the rest of the market. The Russell 2000 index of small-cap stocks climbed 17.51 points, or 1.1%, to 1,628.55. Global stock indexes also closed higher.

Banks, technology and communication companies accounted for much of the broad gains. Energy stocks notched the biggest gain as the price of U.S. crude oil climbed more than 3%. Occidental Petroleum climbed 8.8%, the biggest gainer in the S&P 500.

A government report showed that 840,000 workers applied for unemployment benefits last week. That’s down slightly from 849,000 the prior week, though it’s still remarkably high compared with history. It also was slightly worse than economists were expecting, 837,000.

“The important thing was we continue to see less people filing,” Kinahan said.

Still, several areas of the economy have been slowing recently after supplemental weekly unemployment benefits and other stimulus for the economy approved by Congress earlier this year expired. That has investors focused on whether Congress can deliver more aid. So far, bitter partisanship on Capitol Hill has been preventing a deal.

“The market is vulnerable to the gyrations of the political back-and-forth over a relief package,” said Quincy Krosby, chief market strategist at Prudential Financial.

The market has been swooping up and down this week in particular. On Tuesday, Trump said that he told his representatives to halt negotiations until after the election because he said House Speaker Nancy Pelosi was negotiating in bad faith. That caused stocks to suddenly swing from a 0.7% gain to a 1.4% drop.

But just a few hours later, Trump said that he would be open to several targeted programs, including aid for the airline industry specifically and $1,200 in payments to Americans. That caused Wednesday’s rise, where the S&P 500 more than recovered all its losses from the prior day.

Pelosi spoke with Mnuchin on Wednesday evening about a standalone effort to help the airline industry, and they agreed to talk again Thursday.

On Thursday morning, Trump said in an interview with Fox Business that he shut down talks “because they weren’t working out. Now, they are starting to work out.”

But, Pelosi on Thursday said there wouldn’t be standalone bill for the airline industry unless it was part of a more expansive bill.

“The backdrop for the labor market, while solid, is slowing and the prospect of thousands of layoffs within the airline industry just adds pressure on consumer spending,” Krosby said.

Despite the uncertainty about the prospects for another bailout, airline stocks notched gains Thursday. United Airlines rose 1.7%, Delta Air Lines picked up 1.6% and American Airlines added 0.7%.

“The on-and-off nature of the fiscal stimulus discussion in the U.S. hardly inspires lasting confidence,” Riki Ogawa of Mizuho Bank said in a report, noting such uncertainty will continue through the presidential election campaign, and perhaps even after the vote.

Some investors also see rising poll numbers for Joe Biden in the upcoming presidential election as an indication that more stimulus may be on the way, regardless of what Trump says. If Democrats sweep the White House, Senate and House of Representatives, they say a big rescue package becomes more likely. And that could offset higher taxes and tighter regulations that a Democratic-controlled government could also create.

Merger-and-acquisition activity also helped to boost markets. Eaton Vance jumped 48.1% after Morgan Stanley agreed to buy the investment company. Morgan Stanley rose 0.6%.

IBM rallied 6% after it said it’s spinning off a business unit that provides infrastructure services, as it focuses on its cloud and artificial-intelligence businesses.

Of course, many risks remain for the market. Stocks still look expensive relative to corporate profits to critics. Tensions between the world’s two largest economies, the United States and China, are still simmering. And on top of it all, the pandemic is still raging, with Trump’s own COVID-19 diagnosis showing how far it is reaching.

Germany is seeing a sharp jump in new coronavirus infections, raising fears the pandemic is gaining in a country that so far has coped better than many of its European neighbors. The British government is mulling fresh restrictions on everyday life amid mounting evidence that the measures so far have done little to keep a lid on new coronavirus infections. France set a record number of infections on Wednesday.

European markets rose broadly, and Asian markets closed mostly higher. The yield on the 10-year Treasury note fell to 0.76% from 0.81% late Wednesday.


----------



## bigdog

Wall Street closed out its best week in three months Friday as investors drew encouragement from ongoing negotiations on Capitol Hill aimed at delivering more aid to the ailing U.S. economy.

The S&P 500 rose 0.9%, its third straight gain. The benchmark index ended the week with a 3.8% gain, its strongest rally since early July.

Much of this week’s focus has been on Washington, where President Donald Trump sent markets on a sudden skid Tuesday after he halted negotiations on a support package for the economy until after the election. He appeared to change his mind a few hours later, however. On Friday, Trump was cheerleading the prospect of a deal, declaring on Twitter that talks on a new aid package are “moving along. Go Big!”

“The fact that Trump reversed course, I think, has given people optimism again,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab.

The market's solid finish follows a weekslong run of mostly shaky trading over worries that Congress and the White House won’t deliver more support for the economy as it reels from the impact of the pandemic and concerns that stock prices simply got too high during the summer.

The S&P 500 rose 30.31 points to 3,477.14. The Dow Jones Industrial Average gained 161.39 points, or 0.6%, to 28,586.90. The gain nudged the Dow into positive territory for the year. The Nasdaq composite climbed 158.96 points, or 1.4%, to 11,579.94.

Small-company stocks added to their solid gains this week. The Russell 2000 index picked up 9 points, or 0.6%, to 1,637.55. The index jumped 6.4% this week.

Investors have been clamoring for more federal aid since the expiration of extra benefits for laid-off workers and other stimulus for the economy that Congress approved earlier this year. Economists say the outlook is grim without such support, and the chair of the Federal Reserve has said repeatedly it will likely be necessary.

Still, the prospects for a new deal on more aid have been shaky, especially this week.

Trump said that House Speaker Nancy Pelosi was negotiating in bad faith when he called off the talks Tuesday. But within a couple hours, he appeared to backtrack. He said that he would back more limited programs that would send $1,200 payments to Americans and support the airline industry and small businesses specifically.

On Friday the White House increased its offer to $1.8 trillion, up from $1.6 trillion, according to a Republican aide familiar with the plan. Pelosi’s most recent public proposal was about $2.2 trillion, though that included a business tax increase that Republicans won’t go for.

Pelosi and Treasury Secretary Steven Mnuchin spoke on the phone for 30 minutes Friday, but nothing concrete appeared to immediately emerge from the discussion. Senate Majority Leader Mitch McConnell said he doubts a deal will get done before the election.

Frederick said the uncertainty over another stimulus package remains a “substantial risk” to the market.

This week’s rollercoaster — where the S&P 500 swung at least 1.4% for three straight days— is just the latest bout of volatility for a market that has been notably rocky for weeks.









https://www.usnews.com/news/busines...s-follow-wall-street-higher-on-stimulus-hopes

*Stocks Climb, Closing Out Biggest Weekly Gain in 3 Months*
Wall Street closed out its best week in three months Friday as investors drew encouragement from ongoing negotiations on Capitol Hill aimed at delivering more aid to the ailing U.S. economy.
By Associated Press, Wire Service Content Oct. 9, 2020, at 5:41 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street closed out its best week in three months Friday as investors drew encouragement from ongoing negotiations on Capitol Hill aimed at delivering more aid to the ailing U.S. economy.

The S&P 500 rose 0.9%, its third straight gain. The benchmark index ended the week with a 3.8% gain, its strongest rally since early July.

Much of this week’s focus has been on Washington, where President Donald Trump sent markets on a sudden skid Tuesday after he halted negotiations on a support package for the economy until after the election. He appeared to change his mind a few hours later, however. On Friday, Trump was cheerleading the prospect of a deal, declaring on Twitter that talks on a new aid package are “moving along. Go Big!”

“The fact that Trump reversed course, I think, has given people optimism again,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab.

The market's solid finish follows a weekslong run of mostly shaky trading over worries that Congress and the White House won’t deliver more support for the economy as it reels from the impact of the pandemic and concerns that stock prices simply got too high during the summer.

The S&P 500 rose 30.31 points to 3,477.14. The Dow Jones Industrial Average gained 161.39 points, or 0.6%, to 28,586.90. The gain nudged the Dow into positive territory for the year. The Nasdaq composite climbed 158.96 points, or 1.4%, to 11,579.94.

Small-company stocks added to their solid gains this week. The Russell 2000 index picked up 9 points, or 0.6%, to 1,637.55. The index jumped 6.4% this week.

Investors have been clamoring for more federal aid since the expiration of extra benefits for laid-off workers and other stimulus for the economy that Congress approved earlier this year. Economists say the outlook is grim without such support, and the chair of the Federal Reserve has said repeatedly it will likely be necessary.

Still, the prospects for a new deal on more aid have been shaky, especially this week.

Trump said that House Speaker Nancy Pelosi was negotiating in bad faith when he called off the talks Tuesday. But within a couple hours, he appeared to backtrack. He said that he would back more limited programs that would send $1,200 payments to Americans and support the airline industry and small businesses specifically.

On Friday the White House increased its offer to $1.8 trillion, up from $1.6 trillion, according to a Republican aide familiar with the plan. Pelosi’s most recent public proposal was about $2.2 trillion, though that included a business tax increase that Republicans won’t go for.

Pelosi and Treasury Secretary Steven Mnuchin spoke on the phone for 30 minutes Friday, but nothing concrete appeared to immediately emerge from the discussion. Senate Majority Leader Mitch McConnell said he doubts a deal will get done before the election.

Frederick said the uncertainty over another stimulus package remains a “substantial risk” to the market.

This week’s rollercoaster — where the S&P 500 swung at least 1.4% for three straight days— is just the latest bout of volatility for a market that has been notably rocky for weeks.

“When the world’s financial markets are at the mercy of the randomness emanating from the White House, it is hardly surprising that investors elsewhere would prefer to wait on the side-lines,” said Jeffrey Halley of Oanda in a report. “Unfortunately, things are unlikely to settle down over the next few weeks.”

Regardless of whether Washington can strike a deal before the election, some investors are getting more optimistic about the chances for a big support package in 2021. If the Democrats sweep the White House, Senate and House of Representatives, the thinking is that they’ll likely approve stimulus for the economy. That could help offset the higher tax rates and tighter regulations on businesses that investors also expect from a Democratic-controlled Washington. Wall Street is seeing a Democratic sweep as more likely than before.

Still, other challenges remain for the market. Chief among them is the still-spreading coronavirus pandemic, highlighted by Trump’s own COVID-19 diagnosis.

Some areas of the economy are slowing following the expiration of Congress’ last round of aid, stocks still look too expensive in the eyes of some critics and tensions continue to simmer between the United States and China.

Technology stocks and companies that rely on consumer spending drove much of Friday's rally. Utilities, real estate and energy stocks fell.

Despite the market's gains, trading underneath the surface continued to be unsettled. Airline stocks climbed at the start of trading, only to drop quickly and then rise again. United Airlines rose 0.3%, American Airlines gained 0.3% and Delta Air Lines rose 0.4%.

The yield on the 10-year Treasury held steady at 0.78%.

European markets rose, while Asian indexes ended mixed.


----------



## bigdog

*ASX futures pointing lower.*

The ASX 200’s winning streak looks set to be tested on Monday despite a positive finish to the week on Wall Street. According to the latest SPI futures, the benchmark index is expected to fall 5 points at the open on Monday. On Friday night the Dow Jones rose 0.6%, the S&P 500 climbed 0.9%, and the Nasdaq index stormed 1.4% higher. The latter could be good news for tech shares such as *Afterpay Ltd* (ASX: APT) and *Xero Limited* (ASX: XRO).


----------



## bigdog

The S&P 500 rose 1.6%, following up on strengthening in stock markets around the world. Big Tech stocks, including Apple and Microsoft, powered much of the gains. Their businesses have proven to be practically impervious to the pandemic, unlike companies that would benefit from a strengthening economy.

The market's latest upward push came as Wall Street appeared to largely shrug off the latest signs that Democrats and Republicans are no closer to reaching a deal on more aid for the economy, which remains hobbled by the pandemic. Over the weekend, Democratic House Speaker Nancy Pelosi criticized the latest offer from the Trump administration on a stimulus package as “one step forward, two steps back,” while the president's fellow Republicans called it too expensive.

Investors may be betting that Congress will deliver a more generous aid bill after the election, should Democrats regain the majority in Congress, as some polls suggest.

“The market is expressing some comfort with Democrats taking the White House and the Senate, if it means that there will be more stimulus,” said Willie Delwiche, investment strategist at Baird. “But the reality is it’s several months away before anything could get passed. It does raise a question in my mind whether or not some of this is too much, too soon in terms of the market anticipating stimulus at this point.”

The S&P 500 rose 57.09 points to 3,534.22. The benchmark index is on a four-day winning streak and is now within 1.4% of its all-time high set Sept. 2. The Dow Jones Industrial Average climbed 250.62 points, or 0.9%, to 28,837.52. The Nasdaq composite, which is heavily weighted with technology stocks, gained 296.32 points, or 2.6%, to 11,876.26.

Apple climbed 6.4% and alone accounted for a quarter of the S&P 500’s rise. The iPhone maker also was the index's biggest gainer. Amazon rose 4.8%. Both companies have events coming up this week, with Apple expected to unveil its latest batch of iPhones on Tuesday and Amazon holding its Prime Day on Tuesday and Wednesday.

Microsoft also closed higher, rising 2.6%, Facebook added 4.3% and Google’s parent company gained 3.6%.

The Russell 2000 index of small-cap stocks, which tends to move more with expectations for the economy’s strength than Big Tech companies, notched more modest gains than the rest of the market. The index picked up 11.51 points, or 0.7%, to 1,649.05.

Mondays gains add to last week’s 3.8% rally for the S&P 500, which came amid a dizzying 360-degree spin on expectations for Congress and the White House to be able to deliver more aid for the economy.

President Donald Trump said early in the week he’d put a halt to negotiations on stimulus, even though economists and the chair of the Federal Reserve say the economic recovery likely needs it. He then backed a set of more limited programs before admonishing negotiators at the end of the week to “Go Big!” His administration unveiled its latest, increased proposal to House Democrats, valued at about $1.8 trillion, but it was rejected by Democrats over the weekend.

Investors have been agitating for more stimulus since the expiration of extra unemployment benefits for laid-off workers and other support for the economy approved by Congress earlier this year. Even if Washington can’t deliver the aid soon, some investors have been building up their expectations that it may arrive in 2021.

*ASX 200 expected to storm higher.*

It looks set to be another very positive day of trade for the Australian share market on Tuesday. According to the latest SPI futures, the ASX 200 is poised to open the day 44 points or 0.7% higher this morning. This follows a strong start to the week on Wall Street, which in late trade sees the Dow Jones up 0.9%, the S&P 500 1.6% higher, and the Nasdaq index a sizeable 2.5% higher.












https://www.usnews.com/news/busines...ostly-higher-after-us-rally-aid-package-hopes

*Strong Gains for Technology Stocks Send Wall Street Higher*

Solid gains for technology stocks pushed Wall Street higher Monday, tacking more gains onto last week’s rally.

By Associated Press, Wire Service Content Oct. 12, 2020, at 4:35 p.m.

The S&P 500 rose 1.6%, following up on strengthening in stock markets around the world. Big Tech stocks, including Apple and Microsoft, powered much of the gains. Their businesses have proven to be practically impervious to the pandemic, unlike companies that would benefit from a strengthening economy.

The market's latest upward push came as Wall Street appeared to largely shrug off the latest signs that Democrats and Republicans are no closer to reaching a deal on more aid for the economy, which remains hobbled by the pandemic. Over the weekend, Democratic House Speaker Nancy Pelosi criticized the latest offer from the Trump administration on a stimulus package as “one step forward, two steps back,” while the president's fellow Republicans called it too expensive.

Investors may be betting that Congress will deliver a more generous aid bill after the election, should Democrats regain the majority in Congress, as some polls suggest.

“The market is expressing some comfort with Democrats taking the White House and the Senate, if it means that there will be more stimulus,” said Willie Delwiche, investment strategist at Baird. “But the reality is it’s several months away before anything could get passed. It does raise a question in my mind whether or not some of this is too much, too soon in terms of the market anticipating stimulus at this point.”

The S&P 500 rose 57.09 points to 3,534.22. The benchmark index is on a four-day winning streak and is now within 1.4% of its all-time high set Sept. 2. The Dow Jones Industrial Average climbed 250.62 points, or 0.9%, to 28,837.52. The Nasdaq composite, which is heavily weighted with technology stocks, gained 296.32 points, or 2.6%, to 11,876.26.

Apple climbed 6.4% and alone accounted for a quarter of the S&P 500’s rise. The iPhone maker also was the index's biggest gainer. Amazon rose 4.8%. Both companies have events coming up this week, with Apple expected to unveil its latest batch of iPhones on Tuesday and Amazon holding its Prime Day on Tuesday and Wednesday.

Microsoft also closed higher, rising 2.6%, Facebook added 4.3% and Google’s parent company gained 3.6%.

The Russell 2000 index of small-cap stocks, which tends to move more with expectations for the economy’s strength than Big Tech companies, notched more modest gains than the rest of the market. The index picked up 11.51 points, or 0.7%, to 1,649.05.

Mondays gains add to last week’s 3.8% rally for the S&P 500, which came amid a dizzying 360-degree spin on expectations for Congress and the White House to be able to deliver more aid for the economy.

President Donald Trump said early in the week he’d put a halt to negotiations on stimulus, even though economists and the chair of the Federal Reserve say the economic recovery likely needs it. He then backed a set of more limited programs before admonishing negotiators at the end of the week to “Go Big!” His administration unveiled its latest, increased proposal to House Democrats, valued at about $1.8 trillion, but it was rejected by Democrats over the weekend.

Investors have been agitating for more stimulus since the expiration of extra unemployment benefits for laid-off workers and other support for the economy approved by Congress earlier this year. Even if Washington can’t deliver the aid soon, some investors have been building up their expectations that it may arrive in 2021.

Rising poll numbers for Democrats are raising the odds for a sweep of the White House, Senate and House of Representatives. If that were to happen, investors say it would also increase the likelihood for a big stimulus package after the election. That could offset the drag on corporate profits that investors expect a Democratic-controlled Washington would create through higher taxes and tighter regulations.

This week also marks the start of earnings reporting season for big U.S. companies, where CEOs will tell investors how they fared from July through September. Analysts are forecasting another quarter of weaker profits, with S&P 500 earnings expected to be down 20.5% from a year earlier, according to FactSet.

But that’s not as bad as analysts were forecasting a few months ago, and it’s not as bad as the 31.6% drop that S&P 500 companies reported for the spring quarter. As widespread lockdowns eased across the country, companies have been able to feel a bit of increasing momentum.

This week will feature earnings reports from many of the nation’s biggest banks, and how they fare “could give a clearer picture into just how far we’ve come in terms of economic recovery,” said Chris Larkin, managing director at E-Trade Financial.

In European markets, indexes rose in France and Germany but slipped in Britain. Asian markets closed broadly higher, except in Japan, where they fell slightly.

U.S. bond trading was closed for a holiday.


----------



## bigdog

Banks and technology companies led a broad slide for stocks on Wall Street Tuesday, snapping the market's four-day winning streak.

The S&P 500 lost 0.6%, giving back some of its gains from a day earlier. The pullback came as many forces are pushing and pulling on markets simultaneously. Coronavirus counts are rising at a worrying rate in many countries around the world, a trend that's increasing the urgency behind efforts to develop treatments.

On Tuesday, independent monitors paused enrollment in a study testing the COVID-19 antiviral drug remdesivir plus an experimental antibody therapy being developed by Eli Lilly. The company said the study was paused “out of an abundance of caution.” The news followed a disclosure late Monday by Johnson & Johnson, which said it had to temporarily pause a late-stage study of a potential COVID-19 vaccine “due to an unexplained illness in a study participant.”

Meanwhile, uncertainty about the prospects for more stimulus for the economy from Washington continues to hang over markets.

“Absent of getting any kind of fiscal stimulus, we've already seeing a leveling off in economic growth and some weakening under the surface, ” Liz Ann Sonders, chief investment strategist at Charles Schwab. “There's concern that without that additional fiscal stimulus the economy could run into a little bit of trouble here.”

The S&P 500 fell 22.29 points to 3,511.93. The Dow Jones Industrial Average dropped 157.71 points, or 0.6%, to 28,679.81. The Nasdaq composite gave up an early gain, slipping 12.36 points, or 0.1%, to 11,863.90.

Stocks have been mostly pushing higher this month. Already the major stock indexes have recouped their losses from September's market swoon.

Tuesday's market slide came as the third-quarter earnings reporting season got underway. Investors will be looking for some measure of clarity over the next several weeks as CEOs line up to report how their companies fared during the summer. Wall Street is expecting another sharp drop in profits for the third quarter, nearly 21% for S&P 500 earnings per share from a year earlier. But if that proves correct, it would not be as bad as the nearly 32% plunge for the spring, according to FactSet.

Several companies kicked the season off on Tuesday with better-than-expected reports. JPMorgan Chase, Johnson & Johnson, Citigroup and BlackRock all reported stronger results for the summer than analysts had forecast.

Their stocks, though, closed mixed. BlackRock rose 3.9%, while JPMorgan Chase and Citigroup gave up initial gains and fell 1.6% and 4.8%, respectively. Johnson & Johnson dropped 2.3% and Eli Lilly fell 2.9%.

*ASX 200 expected to drop lower.*

The ASX 200 looks set to finally end its winning streak on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 55 points or 0.9% lower this morning. This follows a mixed night on Wall Street. In late trade the Dow Jones is down 0.5%, the S&P 500 is 0.6% lower, and the Nasdaq is edging slightly higher











https://www.usnews.com/news/busines...mixed-as-china-reports-faster-growth-in-trade

*Stocks End Lower as Wall Street Pauses After a 4-Day Rally*

Stocks ended lower as Wall Street took a pause after a four-day winning streak.

By Associated Press, Wire Service Content Oct. 13, 2020, at 5:10 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

Banks and technology companies led a broad slide for stocks on Wall Street Tuesday, snapping the market's four-day winning streak.

The S&P 500 lost 0.6%, giving back some of its gains from a day earlier. The pullback came as many forces are pushing and pulling on markets simultaneously. Coronavirus counts are rising at a worrying rate in many countries around the world, a trend that's increasing the urgency behind efforts to develop treatments.

On Tuesday, independent monitors paused enrollment in a study testing the COVID-19 antiviral drug remdesivir plus an experimental antibody therapy being developed by Eli Lilly. The company said the study was paused “out of an abundance of caution.” The news followed a disclosure late Monday by Johnson & Johnson, which said it had to temporarily pause a late-stage study of a potential COVID-19 vaccine “due to an unexplained illness in a study participant.”

Meanwhile, uncertainty about the prospects for more stimulus for the economy from Washington continues to hang over markets.

“Absent of getting any kind of fiscal stimulus, we've already seeing a leveling off in economic growth and some weakening under the surface, ” Liz Ann Sonders, chief investment strategist at Charles Schwab. “There's concern that without that additional fiscal stimulus the economy could run into a little bit of trouble here.”

The S&P 500 fell 22.29 points to 3,511.93. The Dow Jones Industrial Average dropped 157.71 points, or 0.6%, to 28,679.81. The Nasdaq composite gave up an early gain, slipping 12.36 points, or 0.1%, to 11,863.90.

Stocks have been mostly pushing higher this month. Already the major stock indexes have recouped their losses from September's market swoon.

Tuesday's market slide came as the third-quarter earnings reporting season got underway. Investors will be looking for some measure of clarity over the next several weeks as CEOs line up to report how their companies fared during the summer. Wall Street is expecting another sharp drop in profits for the third quarter, nearly 21% for S&P 500 earnings per share from a year earlier. But if that proves correct, it would not be as bad as the nearly 32% plunge for the spring, according to FactSet.

Several companies kicked the season off on Tuesday with better-than-expected reports. JPMorgan Chase, Johnson & Johnson, Citigroup and BlackRock all reported stronger results for the summer than analysts had forecast.

Their stocks, though, closed mixed. BlackRock rose 3.9%, while JPMorgan Chase and Citigroup gave up initial gains and fell 1.6% and 4.8%, respectively. Johnson & Johnson dropped 2.3% and Eli Lilly fell 2.9%.

Delta Air Lines reported a worse loss than Wall Street had forecast, as the pandemic keeps many fliers grounded, and its shares slid 2.7%.

Other airlines and travel-related companies were also weak, and Royal Caribbean dropped 13.2% for the biggest loss in the S&P 500. The cruise operator said it will sell up to $575 million of stock to raise cash.

On the winning side was The Walt Disney Co., which climbed 3.2% for one of the bigger gains in the S&P 500 after it announced a major reorganization of its company to focus on Disney Plus and its other streaming services.

The yield on the 10-year Treasury fell to 0.72% from 0.79% late Friday. Treasury markets were closed Monday for a holiday.

A government report showed that prices for consumers were 0.2% higher in September than August. That matched economists’ expectations, and it also showed that month-over-month inflation has slowed since strengthening in the summer.

Lower inflation gives the Federal Reserve more leeway to keep interest rates low, though it has said it may keep its benchmark rate at nearly zero even if inflation tops its 2% target.

While the Federal Reserve keeps the accelerator floored on its support for the economy and markets, a deep partisan divide has Congress and the White House struggling to deliver more aid of their own. Extra unemployment benefits for laid-off workers and other stimulus that Congress approved earlier this year has already expired.

Senate Majority Leader Mitch McConnell said Tuesday that he’s scheduling a vote on a scaled-back GOP coronavirus relief bill for Oct. 19. Democrats filibustered a GOP-drafted aid bill last month and recent talks on a larger deal with House Speaker Nancy Pelosi, D-Calif., fell apart this past weekend. In a letter to colleagues Tuesday, Pelosi called the White House’s latest proposal insufficient and said significant changes are needed.

President Donald Trump has said that Capitol Hill Republicans should “go big” rather than the limited approach they’ve been advocating. If stimulus can’t arrive before the election, some investors have gotten more optimistic about the chances of a big support package next year if Democrats sweep the upcoming election.

“There’s a greater likelihood for a stimulus package, and an even bigger one, should we get a Blue Wave," said Sam Stovall, chief investment strategist at CFRA. “And investors are probably responding to the poll numbers that are implying that we won't have a contested election.”

Smaller stocks, which tend to move more with investors' expectations for the economy than the biggest stocks, were weakening more than the rest of the market. The Russell 2000 index of small-cap stocks fell 12.21 points, or 0.7%, to 1,636.85.

European markets ended lower, while Asian markets were mixed.


----------



## bigdog

Stocks gave up early gains and closed lower Wednesday, adding to Wall Street's losses from a day earlier.

The S&P 500 fell 0.7% after spending the morning swaying between small gains and losses. Companies that rely on consumer spending, banks and technology and communication stocks bore the brunt of the selling. Trading in stock markets overseas was subdued as coronavirus counts climb around the world, raising the risk of more government restrictions on businesses. Treasury yields fell, while prices for crude oil and gold rose.

The decline came as talks between Democrats and Republicans in Washington over another economic stimulus package continued to drag on, dimming investors' hopes for a deal that can deliver more aid for the U.S. economy in the near term.

Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi spoke by phone again Wednesday morning but didn’t reach an agreement, Pelosi aide Drew Hammill tweeted, adding that the two plan to speak again Thursday. Mnuchin said at a conference sponsored by the Milken Institute that it would be “difficult” to get a deal done before the presidential election next month.

“The time for being able to pull this off is now coming to a close,” said Rod von Lipsey, managing director at UBS Private Wealth Management. “The market has been listless because it understands that it’s probably not going to happen.”

Investors are still anticipating some kind of an aid package eventually passing, he said, but it will now likely wait until after the election.

The S&P 500 fell 23.26 points to 3,488.67. The benchmark index broke a strong four-day winning streak on Monday. The Dow Jones Industrial Average lost 165.81 points, or 0.6%, to 28,514. The pullback knocked the Dow back into the red for the year. The Nasdaq composite slid 95.17 points, or 0.8%, to 11,768.73. At one point it had been up 0.6%.

Small company stocks, the biggest gainers so far this month, also fell. The Russell 2000 small-caps index gave up 15.20 points, or 0.9%, to 1,621.65.

Despite the market's two-day slide, stocks have been mostly pushing higher this month. About halfway through October, the major stock indexes have recouped most of their losses from last month's market swoon.

Even so, this week’s kick-off to earnings reporting season is painting a mixed picture for investors.

Big banks are traditionally the first companies to tell investors how much profit they made in the prior quarter, and Bank of America and Wells Fargo fell following the release of their reports, posting the biggest losses in the S&P 500. Bank of America sank 5.3% after its revenue fell short of analysts’ forecast, while Wells Fargo dropped 6% after its earnings were lower than Wall Street expected.

Goldman Sachs rose 0.2% after reporting stronger profit than analysts expected. U.S. Bancorp was fell 0.4% after giving up an early gain following its earnings report, which was also stronger than analysts expected.

Across the S&P 500, analysts are expecting companies to report another drop in profits for the summer from year-ago levels. But they’re forecasting the decline to moderate from the nearly 32% plunge from the spring as the economy has shown signs of improvement.

*ASX 200 futures pointing slightly lower.*

The Australian share market is expected to edge lower on Thursday after a weak night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 1 point lower this morning. In late trade on Wall Street the Dow Jones is down 0.3%, the S&P 500 has fallen 0.4% lower, and the Nasdaq is down 0.5%.











https://www.usnews.com/news/busines...track-wall-street-decline-on-pandemic-jitters

*Stocks Fall on Wall Street as Hopes Fade for Stimulus Deal*

Stocks are closing lower on Wall Street Wednesday, extending the market's losses from a day earlier, as talks drag on in Washington over another economic stimulus package.

By Associated Press, Wire Service Content Oct. 14, 2020, at 4:48 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks gave up early gains and closed lower Wednesday, adding to Wall Street's losses from a day earlier.

The S&P 500 fell 0.7% after spending the morning swaying between small gains and losses. Companies that rely on consumer spending, banks and technology and communication stocks bore the brunt of the selling. Trading in stock markets overseas was subdued as coronavirus counts climb around the world, raising the risk of more government restrictions on businesses. Treasury yields fell, while prices for crude oil and gold rose.

The decline came as talks between Democrats and Republicans in Washington over another economic stimulus package continued to drag on, dimming investors' hopes for a deal that can deliver more aid for the U.S. economy in the near term.

Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi spoke by phone again Wednesday morning but didn’t reach an agreement, Pelosi aide Drew Hammill tweeted, adding that the two plan to speak again Thursday. Mnuchin said at a conference sponsored by the Milken Institute that it would be “difficult” to get a deal done before the presidential election next month.

“The time for being able to pull this off is now coming to a close,” said Rod von Lipsey, managing director at UBS Private Wealth Management. “The market has been listless because it understands that it’s probably not going to happen.”

Investors are still anticipating some kind of an aid package eventually passing, he said, but it will now likely wait until after the election.

The S&P 500 fell 23.26 points to 3,488.67. The benchmark index broke a strong four-day winning streak on Monday. The Dow Jones Industrial Average lost 165.81 points, or 0.6%, to 28,514. The pullback knocked the Dow back into the red for the year. The Nasdaq composite slid 95.17 points, or 0.8%, to 11,768.73. At one point it had been up 0.6%.

Small company stocks, the biggest gainers so far this month, also fell. The Russell 2000 small-caps index gave up 15.20 points, or 0.9%, to 1,621.65.

Despite the market's two-day slide, stocks have been mostly pushing higher this month. About halfway through October, the major stock indexes have recouped most of their losses from last month's market swoon.

Even so, this week’s kick-off to earnings reporting season is painting a mixed picture for investors.

Big banks are traditionally the first companies to tell investors how much profit they made in the prior quarter, and Bank of America and Wells Fargo fell following the release of their reports, posting the biggest losses in the S&P 500. Bank of America sank 5.3% after its revenue fell short of analysts’ forecast, while Wells Fargo dropped 6% after its earnings were lower than Wall Street expected.

Goldman Sachs rose 0.2% after reporting stronger profit than analysts expected. U.S. Bancorp was fell 0.4% after giving up an early gain following its earnings report, which was also stronger than analysts expected.

Across the S&P 500, analysts are expecting companies to report another drop in profits for the summer from year-ago levels. But they’re forecasting the decline to moderate from the nearly 32% plunge from the spring as the economy has shown signs of improvement.

The sharpest profit drops for the quarter are expected to come from energy stocks, but the sector rose Wednesday to some of the biggest gains among the 11 that make up the S&P 500 index. A 2.1% rise for crude oil prices helped. So did a report that ConocoPhillips is in talks to buy Concho Resources. Concho jumped 10.2%, the biggest gainer in the S&P 500, following the report from Bloomberg News.

Tech stocks fell, weighing down the broader S&P 500. Amazon fell 2.3% and Microsoft slid 0.9%. Apple bounced back from an early slide and eked out a 0.1% gain.

Because of their massive size, the movements of Big Tech stocks have an outsized effect on the S&P 500 and other indexes.

The yield on the 10-year Treasury note fell to 0.72% from 0.74% late Tuesday despite a report showing that inflation at the wholesale level strengthened more than economists expected last month.

Prices for producers rose 0.4% last month from August, double economists’ expectations. But even though inflation firmed, economists say it’s still subdued amid a weakened economy.

The Federal Reserve has also indicated that it will keep interest rates at nearly zero for a while to support the economy, even if inflation hits its target level.

Aid for the economy from elsewhere in Washington, though, has been harder to come by. Hopes are fading that Congress and the White House can agree on another round of support any time soon.

“The cold reality that markets have refused to countenance is that even if an agreement was reached, its chances of being enacted before the November election are about zero,” said Jeffrey Halley of Oanda. “Still, this is 2020, the year where markets never let reality get in the way of a good story.”

Economists and the head of the Federal Reserve have said the economy will likely need such stimulus. Earlier benefits for laid-off workers and other support that Congress approved earlier this year have expired.

The rate at which Americans save money spiked earlier this year as the pandemic-related business shutdowns limited where people could shop. Thus far, that extra savings cushion has helped people who lost their job weather the loss of extra unemployment benefits, said Elyse Ausenbaugh, global market strategist at J.P. Morgan Private Bank.

“It’s not going to last forever, especially with the unemployment rate so high,” she said. "That really underscores the need for the government to gas the economy.”

European and Aisian markets ended mixed.


----------



## bigdog

U.S. stock indexes erased much of their early losses and closed modestly lower Thursday, extending the S&P 500's losing streak to a third day.

The S&P 500 fell 0.2% after having been down 1.4%. Technology, health care and communications stocks accounted for most of the selling, outweighing slight gains in banks and elsewhere in the market.

Wall Street has turned cautious this week amid a confluence of worrisome trends for the economy, which is still hampered by the pandemic. Coronavirus infections are rising in Europe, prompting governments in France and Britain to impose new measures to contain the outbreak. European stock indexes fell broadly Thursday as traders pulled money out of riskier investments.

In the U.S., investor optimism that the Trump administration and Congress will soon reach a deal on another round of stimulus for the economy has waned. And the government said Thursday that the number of Americans seeking unemployment aid increased more than expected last week.

“The stimulus talk continues to be a little negative, and the virus outbreak in Europe that’s going to probably cause more shutdowns in various cities and countries, that’s a little bit of a negative, too,” said Scott Wren, senior global market strategist, Wells Fargo Investment Institute.

Still, Wren added, the market is expecting Washington will deliver another round of stimulus at some point, and continues to expect that various efforts to develop COVID-19 treatments and vaccines will pan out, eventually. If that wasn’t the case, the recent pullback in stocks would be much more severe, he said.

“The market is still pretty convinced we’re going to see good news on both fronts, it’s just not sure when,” Wren said.

The S&P 500 fell 5.33 points to 3,483.34. The Dow Jones Industrial Average dropped 19.80 points, or 0.1%, to 28,494.20. It had been down 332 points in the early going. The Nasdaq composite gave up 54.86 points, or 0.5%, to 11,713.87.

Smaller company stocks fared better than the broader market. The Russell 2000 index of small-cap stocks bounced back from an early slide and rose 17.23 points, or 1.1%, to 1,638.88.

Stocks have been mostly climbing this month, but have pulled back this week as ongoing talks between Democrats and Republicans on an economic stimulus package have failed to deliver results. Investors have been hoping that Washington would provide more financial support for the economy since July, when a $600-a-week extra benefit for the unemployed expired.

The government's latest weekly tally of unemployment claims underscores how the economy continues to be hobbled by the pandemic and recession that erupted seven months ago. The Labor Department said Thursday that the number of Americans seeking unemployment benefits rose last week to 898,000, a historically high number that exceeds analysts forecasts.

The report follows recent data that have signaled a slowdown in hiring. The economy is still roughly 10.7 million jobs short of recovering all the 22 million jobs that were lost when the pandemic struck in early spring.

The 10-year Treasury yield held steady at 0.73%.

Investors continued to weigh the latest batch of earnings reports from major U.S. companies. Several reports so far have been better than expected, but the health crisis continues to cloud the outlook.

United Airlines slumped 3.8% Thursday after reporting that its revenue plummeted over the summer. Morgan Stanley rose 1.3% after the investment bank said its third-quarter profit jumped 25%, thanks to a surge in trading revenue and higher fees. Walgreens Boots Alliance gained 4.8% after the drugstore chain's latest quarterly results topped Wall Street's forecasts.

Across the S&P 500, analysts are expecting companies to report another drop in profits for the summer from year-ago levels. But they’re forecasting the decline to moderate from the nearly 32% plunge from the spring as the economy has shown signs of improvement.

*ASX 200 futures pointing lower.*

The ASX 200 is expected to edge lower on Friday after a soft night of trade on Wall Street. According to the latest SPI futures, the benchmark index is poised to open the day 2 points lower this morning. In late trade in the United States the Dow Jones is down 0.05%, the S&P 500 is 0.15% lower, and the Nasdaq is down 0.4%.











https://www.usnews.com/news/busines...s-follow-wall-st-lower-as-stimulus-hopes-fade

*Stocks Fall on Wall Street as Coronavirus Spreads in Europe*
Stocks are ending mostly lower on Wall Street, giving the S&P 500 its third straight loss this week.
By Associated Press, Wire Service Content Oct. 15, 2020, at 4:48 p.m.

By ALEX VEIGA, AP Business Writer

U.S. stock indexes erased much of their early losses and closed modestly lower Thursday, extending the S&P 500's losing streak to a third day.

The S&P 500 fell 0.2% after having been down 1.4%. Technology, health care and communications stocks accounted for most of the selling, outweighing slight gains in banks and elsewhere in the market.

Wall Street has turned cautious this week amid a confluence of worrisome trends for the economy, which is still hampered by the pandemic. Coronavirus infections are rising in Europe, prompting governments in France and Britain to impose new measures to contain the outbreak. European stock indexes fell broadly Thursday as traders pulled money out of riskier investments.

In the U.S., investor optimism that the Trump administration and Congress will soon reach a deal on another round of stimulus for the economy has waned. And the government said Thursday that the number of Americans seeking unemployment aid increased more than expected last week.

“The stimulus talk continues to be a little negative, and the virus outbreak in Europe that’s going to probably cause more shutdowns in various cities and countries, that’s a little bit of a negative, too,” said Scott Wren, senior global market strategist, Wells Fargo Investment Institute.

Still, Wren added, the market is expecting Washington will deliver another round of stimulus at some point, and continues to expect that various efforts to develop COVID-19 treatments and vaccines will pan out, eventually. If that wasn’t the case, the recent pullback in stocks would be much more severe, he said.

“The market is still pretty convinced we’re going to see good news on both fronts, it’s just not sure when,” Wren said.

The S&P 500 fell 5.33 points to 3,483.34. The Dow Jones Industrial Average dropped 19.80 points, or 0.1%, to 28,494.20. It had been down 332 points in the early going. The Nasdaq composite gave up 54.86 points, or 0.5%, to 11,713.87.

Smaller company stocks fared better than the broader market. The Russell 2000 index of small-cap stocks bounced back from an early slide and rose 17.23 points, or 1.1%, to 1,638.88.

Stocks have been mostly climbing this month, but have pulled back this week as ongoing talks between Democrats and Republicans on an economic stimulus package have failed to deliver results. Investors have been hoping that Washington would provide more financial support for the economy since July, when a $600-a-week extra benefit for the unemployed expired.

The government's latest weekly tally of unemployment claims underscores how the economy continues to be hobbled by the pandemic and recession that erupted seven months ago. The Labor Department said Thursday that the number of Americans seeking unemployment benefits rose last week to 898,000, a historically high number that exceeds analysts forecasts.

The report follows recent data that have signaled a slowdown in hiring. The economy is still roughly 10.7 million jobs short of recovering all the 22 million jobs that were lost when the pandemic struck in early spring.

The 10-year Treasury yield held steady at 0.73%.

Investors continued to weigh the latest batch of earnings reports from major U.S. companies. Several reports so far have been better than expected, but the health crisis continues to cloud the outlook.

United Airlines slumped 3.8% Thursday after reporting that its revenue plummeted over the summer. Morgan Stanley rose 1.3% after the investment bank said its third-quarter profit jumped 25%, thanks to a surge in trading revenue and higher fees. Walgreens Boots Alliance gained 4.8% after the drugstore chain's latest quarterly results topped Wall Street's forecasts.

Across the S&P 500, analysts are expecting companies to report another drop in profits for the summer from year-ago levels. But they’re forecasting the decline to moderate from the nearly 32% plunge from the spring as the economy has shown signs of improvement.

A resurgence in coronavirus infections in Europe has also given investors cause to turn cautious. Fears are rising that Europe is running out of chances to control the new outbreak, as infections hit record daily highs in Germany, the Czech Republic, Italy and Poland. France slapped a 9 p.m. curfew on many of its biggest cities and Londoners face new travel restrictions as governments take increasingly tough actions.

The limits on public life are not as strict as the full lockdowns imposed during the spring, but will stunt or even reverse the economy’s recovery from recession, experts say.

European markets fell broadly after France imposed a curfew on many of its biggest cities and Londoners faced new travel restrictions. Germany’s DAX lost 2.5%. The CAC 40 in France slid 2.1%. The FTSE 100 in London fell 1.7%.

In Asia, the Shanghai Composite Index lost 0.3% and the Nikkei 225 in Tokyo sank 0.7%. The Hang Seng in Hong Kong lost 2.1%.

The Kospi in Seoul shed 0.8% despite a strong market debut by the company that manages popular South Korean boy band BTS. The group faces criticism by Chinese internet users after its leader thanked Korean War veterans for their sacrifices.

Big Hit Entertainment Ltd.’s share price doubled by midday but ended the day close to its opening. Its market value after an initial public offering that raised more than $800 million was about $7.5 billion.


----------



## bigdog

Wall Street closed out a choppy week of trading with more of the same Friday, as a late-afternoon stumble led U.S. stock indexes to a mixed finish.

The S&P 500 ended the day just a fraction of a point higher after a burst of selling erased a 0.9% gain. Despite a three-day stretch of losses, the benchmark index still managed to finish higher for the week, its third straight weekly gain.

Big Tech and energy companies fell while health care and industrial stocks rose. The Dow Jones Industrial Average also eked out a gain, while the Nasdaq composite posted its fourth straight loss. Treasury yields were flat.

The market had been up for much of the day after the government reported that retail sales rose in September for the fifth straight month. That report appeared to overshadow new data showed U.S. industrial production had its weakest showing last month since the spring.

The market's late-day fade capped a week of volatility for stocks as companies began reporting their third-quarter results and traders' hopes for a new round of economic stimulus from Washington dimmed.

“The market is sort of bouncing around here,” said Tom Martin, senior portfolio manager with Globalt Investments. “We’ve had a lot of noise lately and that’s probably what we’re going to have over the next couple of weeks.”

The S&P 500 rose 0.47 points to 3,483.81. The Dow gained 112.11 points, or 0.4%, to 28,606.31. At one point, it had been up by 348 points. The Nasdaq fell 42.32 points, or 0.4%, to 11,671.56. The Russell 2000 index of small-cap stocks dropped 5.08 points, or 0.3%, to 1,633.81.

Despite the market’s downbeat finish, the major stock indexes have already recouped most of their losses from September's market swoon.

Stocks have been mostly climbing this month, but trading became choppy this week as ongoing talks between Democrats and Republicans on an economic stimulus package failed to deliver results. Investors have been hoping that Washington would provide more financial support for the economy since July, when a $600-a-week extra benefit for the unemployed expired.

Traders have been watching economic data closely to see whether the loss of that beefed-up unemployment aid would lead to an overall pullback in spending. On Thursday, the government’s said the number of Americans seeking unemployment aid increased last week to 898,000, a historically high level that underscores how the economy continues to be hobbled by the pandemic and recession that erupted seven months ago.

 Friday’s retail sales report provides some encouragement, suggesting Americans’ appetite for spending remained solid last month. The Commerce Department said retail sales rose 1.9% in September, the fifth straight monthly increase.











https://www.usnews.com/news/busines...ixed-amid-2nd-wave-coronavirus-election-fears

*A Late Slide Erases Gains for US Indexes, Leaving Them Mixed*
Stocks took a late stumble on Wall Street, erasing an early gain and leaving major indexes mixed on Friday.
By Associated Press, Wire Service Content Oct. 16, 2020, at 4:57 p.m.

By ALEX VEIGA, AP Business Writer

Wall Street closed out a choppy week of trading with more of the same Friday, as a late-afternoon stumble led U.S. stock indexes to a mixed finish.

The S&P 500 ended the day just a fraction of a point higher after a burst of selling erased a 0.9% gain. Despite a three-day stretch of losses, the benchmark index still managed to finish higher for the week, its third straight weekly gain.

Big Tech and energy companies fell while health care and industrial stocks rose. The Dow Jones Industrial Average also eked out a gain, while the Nasdaq composite posted its fourth straight loss. Treasury yields were flat.

The market had been up for much of the day after the government reported that retail sales rose in September for the fifth straight month. That report appeared to overshadow new data showed U.S. industrial production had its weakest showing last month since the spring.

The market's late-day fade capped a week of volatility for stocks as companies began reporting their third-quarter results and traders' hopes for a new round of economic stimulus from Washington dimmed.

“The market is sort of bouncing around here,” said Tom Martin, senior portfolio manager with Globalt Investments. “We’ve had a lot of noise lately and that’s probably what we’re going to have over the next couple of weeks.”

The S&P 500 rose 0.47 points to 3,483.81. The Dow gained 112.11 points, or 0.4%, to 28,606.31. At one point, it had been up by 348 points. The Nasdaq fell 42.32 points, or 0.4%, to 11,671.56. The Russell 2000 index of small-cap stocks dropped 5.08 points, or 0.3%, to 1,633.81.

Despite the market’s downbeat finish, the major stock indexes have already recouped most of their losses from September's market swoon.

Stocks have been mostly climbing this month, but trading became choppy this week as ongoing talks between Democrats and Republicans on an economic stimulus package failed to deliver results. Investors have been hoping that Washington would provide more financial support for the economy since July, when a $600-a-week extra benefit for the unemployed expired.

Traders have been watching economic data closely to see whether the loss of that beefed-up unemployment aid would lead to an overall pullback in spending. On Thursday, the government’s said the number of Americans seeking unemployment aid increased last week to 898,000, a historically high level that underscores how the economy continues to be hobbled by the pandemic and recession that erupted seven months ago.

Friday’s retail sales report provides some encouragement, suggesting Americans’ appetite for spending remained solid last month. The Commerce Department said retail sales rose 1.9% in September, the fifth straight monthly increase.

“There’s a need for stimulus, even though this data is heartening in a way,” said Ross Mayfield, an investment strategist at Baird.

Still, given that the Nov. 3 election is fast approaching, the market is not expecting leadership in Washington to deliver an economic stimulus package before voters go to the polls, Mayfield said.

“Now, it’s essentially baked in that we probably won’t see anything until after the election,” he said.

The retail sales report initially juiced shares in retailers and other companies that rely on consumer spending, but most of those gains evaporated by the end of the day.

Other data point to persistent weakness in the economy. The Federal Reserve said Friday that U.S. industrial production fell 0.6% last month, the weakest showing since April’s 12.7% skid amid widespread business shutdowns due to the pandemic. Economists had been expecting an increase.

A surge in new coronavirus infections in Europe, the Americas and parts of Asia, is also giving traders reason to turn cautious. The new caseloads prompted governments in France and Britain to impose new restrictions aimed on containing the outbreak contributed to some of the selling in the market earlier this week.

Across the S&P 500, analysts are expecting companies to report another drop in profits for the summer from year-ago levels. But they’re forecasting the decline to moderate from the nearly 32% plunge from the spring, reflecting some signs of improvement in the economy since then.

Analysts have been raising their earnings forecasts for how companies fared in the third quarter after lowering them sharply ahead of the second quarter. That means it will be tougher for companies reporting results the next couple of weeks to beat expectations.

“Those expectations have been rising all quarter,” Mayfield said. “There’s just going to be a higher hurdle to clear to impress investors.”

Credit card issuer Ally Financial rose 2.7% after it reported better-than-expected results. Logistics company J.B. Hunt Transportation Services sank 9.7%, the biggest decliner in the S&P 500, after its third-quarter results fell short of analysts’ expectations.

Several big companies report quarterly results next week, including Netflix, Coca-Cola, Tesla, Southwest Airlines and American Express.

The 10-year Treasury yield held steady at 0.74%.

Friday’s early gains on Wall Street followed a broad rally in European stock indexes, which clawed back some of their heavy losses from a day earlier. Asian markets ended mixed.


----------



## bigdog

*ASX 200 expected to rise.*

The Australian share market looks set to start the week in a positive fashion on Monday. According to the latest SPI futures, the ASX 200 is expected to open the week 39 points or 0.6% higher. This follows a reasonably positive end to the week on Wall Street. On Friday night the Dow Jones rose 0.4%, the S&P 500 edged higher, and the Nasdaq dropped 0.35% lower. Wall Street was given a boost by stronger than expected U.S. retail sales data.

*Gold price edges lower.*


----------



## bigdog

Stocks gave up some of their recent gains Monday as Wall Street's hopes that Washington will come through with badly needed aid for the economy before Election Day faded.

The S&P 500 dropped 1.6%, its worst day in more than three weeks. The benchmark index had been up 0.5% in the early going following a report that China's economy grew at a 5% annual rate in the last quarter. The market’s slide was broad, though technology, health care and communication stocks bore the brunt of the selling. Treasury yields were mixed.

The early gains evaporated by mid afternoon ahead of another round of talks between Democratic and Republican leadership over a long-sought economic stimulus bill. Wall Street is expecting that lawmakers will agree on new stimulus measures for the economy, but the odds of that happening before the Nov. 3 election have dimmed. Over the weekend, House Speaker Nancy Pelosi said a deal would have to come within 48 hours — or by Tuesday — for a stimulus package to be enacted by Election Day.

Uncertainty over when more aid for the economy may arrive, signs new coronavirus infections are surging and the upcoming election will likely make for a volatile few weeks, analysts say.

“We’re in a period here in the the next couple of weeks where the market goes sideways through the election,” Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.

The S&P 500 fell 56.89 points to 3,426.92. The Dow Jones Industrial Average of big blue chips dropped 410.89 points, or 1.4%, to 28,195.42. The Nasdaq composite extended its losing streak to a fifth day, losing 192.67 points, or 1.7%, to 11,478.88.

Small company stocks also fell. The Russell 2000 gave up 20.18 points, or 1.2%, to 1,613.63. The index has gained 7% so far this month, outpacing the 1.9% gain for the broader S&P 500.

Stocks have been mostly pushing higher this month after giving back some of their big gains this year in a sudden September swoon. The benchmark S&P 500 has notched a gain in each of the past three weeks. Even so, trading often has been choppy from one day to the next, reflecting uncertainty over the timing of more stimulus for the economy, something investors have been hoping for since July, when a supplemental $600-a-week unemployment benefit package ran out.


*ASX 200 expected to fall.*

The Australian share market is set to give back some of yesterday’s gain after a poor start to the week on global markets. According to the latest SPI futures, the ASX 200 is poised to fall 40 points or 0.65% at the open. In late trade on Wall Street the Dow Jones is down 1.4%, the S&P 500 has dropped 1.6%, and the Nasdaq is 1.6% lower. Concerns that a stimulus deal in the U.S. won’t be signed is weighing on markets.










https://www.necn.com/news/national-...reet-as-hopes-for-new-virus-aid-fade/2337106/

*Stocks Fall on Wall Street as Hopes for New Virus Aid Fade*
Stocks had been up in the early going following a report that China’s economy grew at a 5% annual rate in the last quarter
*By Ken Sweet, Damian J. Troise and Alex Veiga*

Stocks gave up some of their recent gains Monday as Wall Street's hopes that Washington will come through with badly needed aid for the economy before Election Day faded.

The S&P 500 dropped 1.6%, its worst day in more than three weeks. The benchmark index had been up 0.5% in the early going following a report that China's economy grew at a 5% annual rate in the last quarter. The market’s slide was broad, though technology, health care and communication stocks bore the brunt of the selling. Treasury yields were mixed.

The early gains evaporated by mid afternoon ahead of another round of talks between Democratic and Republican leadership over a long-sought economic stimulus bill. Wall Street is expecting that lawmakers will agree on new stimulus measures for the economy, but the odds of that happening before the Nov. 3 election have dimmed. Over the weekend, House Speaker Nancy Pelosi said a deal would have to come within 48 hours — or by Tuesday — for a stimulus package to be enacted by Election Day.

Uncertainty over when more aid for the economy may arrive, signs new coronavirus infections are surging and the upcoming election will likely make for a volatile few weeks, analysts say.

“We’re in a period here in the the next couple of weeks where the market goes sideways through the election,” Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.

The S&P 500 fell 56.89 points to 3,426.92. The Dow Jones Industrial Average of big blue chips dropped 410.89 points, or 1.4%, to 28,195.42. The Nasdaq composite extended its losing streak to a fifth day, losing 192.67 points, or 1.7%, to 11,478.88.

Small company stocks also fell. The Russell 2000 gave up 20.18 points, or 1.2%, to 1,613.63. The index has gained 7% so far this month, outpacing the 1.9% gain for the broader S&P 500.

Stocks have been mostly pushing higher this month after giving back some of their big gains this year in a sudden September swoon. The benchmark S&P 500 has notched a gain in each of the past three weeks. Even so, trading often has been choppy from one day to the next, reflecting uncertainty over the timing of more stimulus for the economy, something investors have been hoping for since July, when a supplemental $600-a-week unemployment benefit package ran out.

Senate Majority Leader Mitch McConnell is expected to bring a his version of a stimulus bill to the floor of the Senate for a vote on Wednesday. However that bill is likely to get zero traction with the Democrat-controlled House of Representatives. So far, McConnell, Pelosi and President Donald Trump have not been on the same page.

Pelosi and Treasury Secretary Steven Mnuchin spoke Monday and are due to resume talks Tuesday, Pelosi spokesman Drew Hammill tweeted after the end of regular trading.

Investors were also looking ahead to another busy week of corporate earnings reports. Procter & Gamble, Netflix and American Express are a few of the companies that will reveal the extent of the virus pandemic’s impact during the most recent quarter.

Across the S&P 500, analysts are expecting companies to report another drop in profits for the summer from year-ago levels. But they’re forecasting the decline to moderate from the nearly 32% plunge from the spring as the economy has shown signs of improvement.

AMC Entertainment was among the few gainers Monday. Its shares jumped 16.4% after the movie theater chain said it plans to resume operations in theaters in New York State later this week.

Several airlines also rose after the Transport Security Administration said the number of passengers screened in a single day for flights in the U.S. topped one million on Sunday for the first time since the coronavirus cases began to spike in March. That compares with 2.6 million passengers screened by TSA on the same day last year, or roughly 60% fewer. United Airlines rose 3.9% and Southwest Airlines edged up 0.4%.

ConocoPhillips fell 3.2% after the oil giant announced it would buy Concho Resources for $9.7 billion. The deal is the largest in the oil industry since crude prices plummeted this year due to the COVID pandemic. Concho lost 2.8%.

European stocks closed broadly lower, and Asian markets ended mixed.


----------



## bigdog

Stocks closed broadly higher Tuesday as Wall Street welcomed a batch of solid earnings reports from U.S. companies.

The S&P 500 gained 0.5%, recouping some of its loss from a day earlier. Technology, communication and financial stocks powered most of the gains, while household goods makers fell. Overseas markets closed mixed. Treasury yields held steady.

Traders bid up shares in several companies that reported quarterly results that were better than analysts expected, including Procter & Gamble, Regions Financial, Albertsons and Travelers. Others didn't fare as well. Netflix shares fell in after-hours trading after the streaming service reported third-quarter earnings and a tally of new subscribers that fell short of analysts' expectations.

Investors also had their eye on Washington in hopes that Democrats and Republicans will reach a deal to deliver more aid for the economy. Fading optimism that an agreement on a new relief package will be reached before the election next month led to a late-afternoon sell-off on Monday.

“We have had a decently strong recovery out of the gate, but there are signs that it is maybe starting to slow,” said Charlie Ripley, senior investment strategist for Allianz Investment Management. “Additional stimulus aid is something that will benefit the economy.”

Shares in Google's parent company rose following news that the Justice Department sued the internet giant Tuesday, claiming Google has abused its dominance in online search and advertising to stifle competition and harm consumers.

The market had been on track for a stronger finish, before losing some of its gains by the final hour of trading. The S&P 500 rose 16.20 points to 3,443.12. The Dow Jones Industrial Average of big blue chips gained 113.37 points, or 0.4%, to 28,308.79. It had been up 379 points.

The Nasdaq composite snapped a five-day losing streak, rising 37.61 points, or 0.3%, to 11,516.49.

Stocks have been mostly pushing higher this month after giving back some of their big gains this year in a sudden September swoon. The benchmark S&P 500 has notched a gain in each of the past three weeks. Even so, trading often has been choppy from one day to the next, reflecting uncertainty over the timing of more stimulus for the economy, something investors have been hoping for since July, when a supplemental $600-a-week unemployment benefit package ran out.

“If we can't get stimulus within the next three or four months, that's going to be damaging to the U.S. economy," said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors.

Senate Majority Leader Mitch McConnell said Tuesday that he’ll schedule a vote if House Speaker Nancy Pelosi and the Trump administration are able to seal an agreement on a huge COVID-19 relief bill. Pelosi and Treasury Secretary Steven Mnuchin held talks for the second day in a row Tuesday.

On Sunday, Pelosi said that Tuesday would be the deadline for reaching a pre-election deal with the Trump administration on a new coronavirus relief package. But she clarified in an interview with Bloomberg News Tuesday that the aim is to spur the two sides to exchange their best proposals on a host of unresolved issues, not to close out all of their disagreements or have final legislative language at hand.

*ASX 200 expected to edge higher.*

It looks set to be a better day of trade for the ASX 200 on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 2 points higher. This follows a strong night on Wall Street which in late trade sees the Dow Jones up 0.55%, the S&P 500 0.65% higher, and the Nasdaq climbing 0.5%. This follows comments by Nancy Pelosi that she is optimistic that a stimulus deal will be reached.










https://www.usnews.com/news/busines...asian-shares-mixed-as-us-virus-aid-hopes-fade

*Stocks Close Higher as Companies Report Solid Earnings*
Stocks are closing higher on Wall Street following several solid earnings reports from U.S. companies.

By Associated Press, Wire Service Content Oct. 20, 2020, at 4:48 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

Stocks closed broadly higher Tuesday as Wall Street welcomed a batch of solid earnings reports from U.S. companies.

The S&P 500 gained 0.5%, recouping some of its loss from a day earlier. Technology, communication and financial stocks powered most of the gains, while household goods makers fell. Overseas markets closed mixed. Treasury yields held steady.

Traders bid up shares in several companies that reported quarterly results that were better than analysts expected, including Procter & Gamble, Regions Financial, Albertsons and Travelers. Others didn't fare as well. Netflix shares fell in after-hours trading after the streaming service reported third-quarter earnings and a tally of new subscribers that fell short of analysts' expectations.

Investors also had their eye on Washington in hopes that Democrats and Republicans will reach a deal to deliver more aid for the economy. Fading optimism that an agreement on a new relief package will be reached before the election next month led to a late-afternoon sell-off on Monday.

“We have had a decently strong recovery out of the gate, but there are signs that it is maybe starting to slow,” said Charlie Ripley, senior investment strategist for Allianz Investment Management. “Additional stimulus aid is something that will benefit the economy.”

Shares in Google's parent company rose following news that the Justice Department sued the internet giant Tuesday, claiming Google has abused its dominance in online search and advertising to stifle competition and harm consumers.

The market had been on track for a stronger finish, before losing some of its gains by the final hour of trading. The S&P 500 rose 16.20 points to 3,443.12. The Dow Jones Industrial Average of big blue chips gained 113.37 points, or 0.4%, to 28,308.79. It had been up 379 points.

The Nasdaq composite snapped a five-day losing streak, rising 37.61 points, or 0.3%, to 11,516.49.

Stocks have been mostly pushing higher this month after giving back some of their big gains this year in a sudden September swoon. The benchmark S&P 500 has notched a gain in each of the past three weeks. Even so, trading often has been choppy from one day to the next, reflecting uncertainty over the timing of more stimulus for the economy, something investors have been hoping for since July, when a supplemental $600-a-week unemployment benefit package ran out.

“If we can't get stimulus within the next three or four months, that's going to be damaging to the U.S. economy," said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors.

Senate Majority Leader Mitch McConnell said Tuesday that he’ll schedule a vote if House Speaker Nancy Pelosi and the Trump administration are able to seal an agreement on a huge COVID-19 relief bill. Pelosi and Treasury Secretary Steven Mnuchin held talks for the second day in a row Tuesday.

On Sunday, Pelosi said that Tuesday would be the deadline for reaching a pre-election deal with the Trump administration on a new coronavirus relief package. But she clarified in an interview with Bloomberg News Tuesday that the aim is to spur the two sides to exchange their best proposals on a host of unresolved issues, not to close out all of their disagreements or have final legislative language at hand.

Google parent Alphabet rose 1.4% after the Justice Department sued the company for antitrust violations. The lawsuit could be an opening salvo ahead of other major government antitrust actions, given ongoing federal probes of other major tech companies, including Apple, Amazon and Facebook. Shares in Apple gained 1.5%, while Amazon added 0.3%. Facebook rose 2.4%.

The Big Tech stocks have been investor favorites this year, because the companies are expected to do well during and after the pandemic. That these companies could one day face the risk of an antitrust case is a risk investors have, or should have, long considered.

“It doesn't look like the market is too worried about it right now,” Horneman said, adding that the stocks' market-leading gains this year suggest traders are not pricing in a major regulatory risk.

Homebuilders rose broadly after the Commerce Department said U.S. home construction rose a solid 1.9% last month after having fallen in August. Applications for building permits, a good sign of future activity, also rose in September. NVR was the biggest gainer, climbing 3.5%.

Procter & Gamble rose 0.4% after the consumer products company reported solid fiscal first-quarter results and raised its earnings outlook. Insurer the Travelers Cos. gained 5.6% after its latest earnings topped Wall Street's estimates, thanks partly to lower-than-expected losses on claims.

Albertsons climbed 5.8% following its latest quarterly results. The supermarket chain benefited from a sharp increase in online and in-store sales as customers continue to stock up on groceries due to the coronavirus. Regions Financial gained 4.9% as traders cheered the bank's latest quarterly results, which included solid fee income from mortgages.

Across the S&P 500, analysts are expecting companies to report another drop in profits for the summer from year-ago levels. But they’re forecasting the decline to moderate from the nearly 32% plunge from the spring as the economy has shown signs of improvement.

The yield on the 10-year Treasury note rose to 0.79 from 0.78% late Monday.


----------



## bigdog

U.S. stocks capped another wobbly day of trading with modest losses Wednesday as Wall Street waited for any signs of progress as lawmakers in Washington negotiate over how to deliver more aid for the economy.

The S&P 500 slipped 0.2% after shifting between small gains and losses for much of the day. The benchmark index is on track for its first weekly loss after notching gains in each of the past three weeks. Losses in industrial stocks, health care companies and elsewhere in the market outweighed solid gains by communication services stocks. Treasury yields were mixed.

Much of Wall Street’s focus has been on Washington, where White House officials and Democrats are negotiating on another round of support to prop up the still-struggling economy, though the prospects for a deal that delivers aid soon remain cloudy.

“As long as the parties involved give the market a headline suggesting they’re still negotiating, there’s a kernel of optimism in the market,” said Quincy Krosby, chief market strategist at Prudential Financial. “But then there’s also concern that this is extreme political posturing and that a deal will not be forthcoming.”

The S&P 500 fell 7.56 points to 3,435.56. The Dow Jones Industrial Average lost 97.97 points, or 0.4%, to 28,210.82. The index had briefly been up 141 points. The Nasdaq composite gave up 31.80 points, or 0.3%, to 11,484.69.

Stocks of social media companies were among the biggest gainers after Snap reported even bigger jumps in revenue and in the number of Snapchatters using its service each day than analysts expected.

Snap surged 28.3% following its quarterly profit report. In its wake, Twitter jumped 8.4%, the biggest gainer in the S&P 500, and Facebook rose 4.2%.

Google’s parent company rose 2.3%, adding to its gains from a day before when the Justice Department sued it for antitrust violations. Investors had already been expecting such action, and analysts said Google’s counterarguments mean it will likely take years to reach a resolution.

On the losing end was Netflix, which fell 6.9% for one of the largest losses in the S&P 500 after it said growth in its subscriber rolls slumped by more during the summer than it had forecast. It also reported a weaker quarterly profit than analysts expected, following a surge earlier this year when people were yearning for things to watch amid coronavirus-caused lockdowns.

It’s a rare disappointing report in what’s so far been a much better earnings season than Wall Street girded for. Roughly one in six of the companies in the S&P 500 index has reported its results for the July-through-September quarter, and most have topped the low expectations analysts had set.

S&P 500 companies are on track to report a decline of a little less than 18% in earnings per share for the quarter from a year ago, which is not as bad as the 21% drop that analysts were forecasting at the end of the quarter, according to FactSet.

*ASX 200 expected to sink lower.*

News that the U.S. Senate has blocked a US$500 billion COVID-19 stimulus package looks set to weigh on the Australian share market this morning. According to the latest SPI futures, the ASX 200 is poised to open the day 57 points or 0.9% lower. The S&P 500 fell 7.56 points to 3,435.56. The Dow Jones Industrial Average lost 97.97 points, or 0.4%, to 28,210.82. The index had briefly been up 141 points. The Nasdaq composite gave up 31.80 points, or 0.3%, to 11,484.69










https://www.usnews.com/news/busines...ise-after-wall-street-gains-on-solid-earnings

*Stocks Slip on Wall Street as Virus Aid Deal Remains Elusive*

Stocks closed lower on Wall Street as negotiations continue to drag on in Washington over delivering more aid for the economy.
By Associated Press, Wire Service Content Oct. 21, 2020, at 4:43 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

U.S. stocks capped another wobbly day of trading with modest losses Wednesday as Wall Street waited for any signs of progress as lawmakers in Washington negotiate over how to deliver more aid for the economy.

The S&P 500 slipped 0.2% after shifting between small gains and losses for much of the day. The benchmark index is on track for its first weekly loss after notching gains in each of the past three weeks. Losses in industrial stocks, health care companies and elsewhere in the market outweighed solid gains by communication services stocks. Treasury yields were mixed.

Much of Wall Street’s focus has been on Washington, where White House officials and Democrats are negotiating on another round of support to prop up the still-struggling economy, though the prospects for a deal that delivers aid soon remain cloudy.

“As long as the parties involved give the market a headline suggesting they’re still negotiating, there’s a kernel of optimism in the market,” said Quincy Krosby, chief market strategist at Prudential Financial. “But then there’s also concern that this is extreme political posturing and that a deal will not be forthcoming.”

The S&P 500 fell 7.56 points to 3,435.56. The Dow Jones Industrial Average lost 97.97 points, or 0.4%, to 28,210.82. The index had briefly been up 141 points. The Nasdaq composite gave up 31.80 points, or 0.3%, to 11,484.69.

Stocks of social media companies were among the biggest gainers after Snap reported even bigger jumps in revenue and in the number of Snapchatters using its service each day than analysts expected.

Snap surged 28.3% following its quarterly profit report. In its wake, Twitter jumped 8.4%, the biggest gainer in the S&P 500, and Facebook rose 4.2%.

Google’s parent company rose 2.3%, adding to its gains from a day before when the Justice Department sued it for antitrust violations. Investors had already been expecting such action, and analysts said Google’s counterarguments mean it will likely take years to reach a resolution.

On the losing end was Netflix, which fell 6.9% for one of the largest losses in the S&P 500 after it said growth in its subscriber rolls slumped by more during the summer than it had forecast. It also reported a weaker quarterly profit than analysts expected, following a surge earlier this year when people were yearning for things to watch amid coronavirus-caused lockdowns.

It’s a rare disappointing report in what’s so far been a much better earnings season than Wall Street girded for. Roughly one in six of the companies in the S&P 500 index has reported its results for the July-through-September quarter, and most have topped the low expectations analysts had set.

S&P 500 companies are on track to report a decline of a little less than 18% in earnings per share for the quarter from a year ago, which is not as bad as the 21% drop that analysts were forecasting at the end of the quarter, according to FactSet.

Traders have been keeping one eye on corporate earnings, and another on the prospects for more economic stimulus out of Washington.

The two sides have been making progress, House Speaker Nancy Pelosi told her Democratic colleagues in a letter late Tuesday. She said she hopes discussions will continue, past a self-imposed deadline of Tuesday.

Markets have been swinging recently with the perceived prospects of such stimulus. Investors have been clamoring for it since the summer, when extra benefits for laid-off workers and other support provided by the last round of aid approved by Congress expired.

But even if leaders from the White House and House of Representatives can reach a compromise soon, its fate looks unclear on Capitol Hill due to its growing price tag. Senate Majority Leader Mitch McConnell told fellow Republicans that he has warned the White House not to divide the party by sealing a relief deal before the election that could cost $2 trillion.

Regardless of the opposition, Jeffrey Halley of Oanda said, “the one lesson we can take is that the U.S. fiscal stimulus package remains the only thing financial markets are concentrating on, to the exclusion of everything else.”

While investors focus on government aid prospects, the market is still showing signals that the economy is expected to continue its recovery, said Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management. He said smaller company stocks have been gaining ground in a sign of confidence, while bond yields continue rising. The broader market is also seeing more even gains from previously downtrodden sectors, such as industrial companies and businesses that rely on consumer spending.

“There is a lot of focus on Washington, but the market is telling you the economy is coming back very much in a ‘V’ pattern."

The yield on the 10-year Treasury rose to 0.82% from 0.81% late Tuesday. It’s been generally climbing since dropping close to 0.60% early last month.

European markets closed broadly lower, while Asian markets closed higher.


----------



## bigdog

U.S. stocks overcame a wobbly start to finish higher Thursday, as traders welcomed more corporate quarterly results for the summer that weren't as bad as Wall Street feared.

The S&P 500 rose 0.5% after shifting between small gains and losses throughout the morning. The index recouped all of its losses from a day earlier, but remains on track for its first weekly loss after notching a gain in each of the previous three weeks.

Health care companies, banks, and communication services stocks accounted for most of the gains. Energy stocks also rose as the price of U.S. crude oil pushed 1.6% higher. Those gains outweighed losses by technology companies and elsewhere in the market. Treasury yields rose, a sign that investors are feeling better about the economy.

After a downbeat start, stocks wobbled for a bit as traders weighed encouraging economic new data on weekly U.S. unemployment aid claims and September home sales. The indexes flipped into the green by midafternoon after House Speaker Nancy Pelosi said that negotiations for another round of economic stimulus were progressing.

The day's gyrations echo the market’s meandering trading in recent weeks as investors gauge the chances of Washington reaching a deal on more support for the economy. Time is running out to get something done before the election, which has dimmed some of the optimism that Democrats and Republicans will soon strike a bargain on an aid package.

“I have very low expectations for a stimulus deal, but the economic news and corporate earnings news is pretty good, and that’s encouraging,” said Phil Orlando, chief equity strategist at Federated Hermes.

The S&P 500 rose 17.93 points to 3,453.49. The Dow Jones Industrial Average gained 152.84 points, or 0.5%, to 28,363.66. The Nasdaq composite added 21.31 points, or 0.2%, to 11,506.01.

Smaller company stocks fared better than the rest of the market. The Russell 2000 small-cap index climbed 26.48 points, or 1.7%, to 1,630.25.

Investors have been hoping Washington will provide more aid for the economy, which continues to struggle due to the pandemic. The last round of beefed-up aid for unemployed Americans expired at the end of July. Any compromise will likely face stiff resistance from Republicans in the Senate.

Pelosi and Treasury Secretary Steven Mnuchin have been negotiating daily this week on a possible aid package. On Thursday, Pelosi said that progress is still being made.

“Help is on the way. It will be bigger, it will be better, it will be safer and it will be retroactive,” she said.

A piece of such a deal could include extra benefits for workers who lost their jobs due to the coronavirus pandemic. A report on Thursday morning showed that 787,000 workers applied for unemployment benefits last week.

While that’s still an incredibly high number relative to history, it’s down from 842,000 the prior week. It also was not nearly as bad as economists were expecting.

The number of workers continuing to get jobless benefits is likewise easing from its pandemic-era peak. That’s a sign that some people have been able to find new jobs, but it also shows that others are simply using up the last of their state unemployment benefits.

The economy continues to show signs of overall improvement, said Jeff Buchbinder, equity strategist at LPL Financial, including solid gains in retail sales in September. That has dampened some of the immediate need for more stimulus, but high unemployment is still a problem.

*ASX 200 expected to edge higher.*

The Australian share market looks set to end the week in a positive fashion. According to the latest SPI futures, the ASX 200 is poised to open the day 4 points higher this morning. At close on Wall Street, the S&P 500 rose 17.93 points to 3,453.49. The Dow Jones Industrial Average gained 152.84 points, or 0.5%, to 28,363.66. The Nasdaq composite added 21.31 points, or 0.2%, to 11,506.01










https://www.usnews.com/news/busines...llow-wall-street-lower-on-lack-of-us-aid-plan

*Stocks Shake off a Wobbly Start to End Higher on Wall Street*

Stocks shook off a wobbly start and ended higher on Wall Street.
By Associated Press, Wire Service Content Oct. 22, 2020, at 4:55 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

U.S. stocks overcame a wobbly start to finish higher Thursday, as traders welcomed more corporate quarterly results for the summer that weren't as bad as Wall Street feared.

The S&P 500 rose 0.5% after shifting between small gains and losses throughout the morning. The index recouped all of its losses from a day earlier, but remains on track for its first weekly loss after notching a gain in each of the previous three weeks.

Health care companies, banks, and communication services stocks accounted for most of the gains. Energy stocks also rose as the price of U.S. crude oil pushed 1.6% higher. Those gains outweighed losses by technology companies and elsewhere in the market. Treasury yields rose, a sign that investors are feeling better about the economy.

After a downbeat start, stocks wobbled for a bit as traders weighed encouraging economic new data on weekly U.S. unemployment aid claims and September home sales. The indexes flipped into the green by midafternoon after House Speaker Nancy Pelosi said that negotiations for another round of economic stimulus were progressing.

The day's gyrations echo the market’s meandering trading in recent weeks as investors gauge the chances of Washington reaching a deal on more support for the economy. Time is running out to get something done before the election, which has dimmed some of the optimism that Democrats and Republicans will soon strike a bargain on an aid package.

“I have very low expectations for a stimulus deal, but the economic news and corporate earnings news is pretty good, and that’s encouraging,” said Phil Orlando, chief equity strategist at Federated Hermes.

The S&P 500 rose 17.93 points to 3,453.49. The Dow Jones Industrial Average gained 152.84 points, or 0.5%, to 28,363.66. The Nasdaq composite added 21.31 points, or 0.2%, to 11,506.01.

Smaller company stocks fared better than the rest of the market. The Russell 2000 small-cap index climbed 26.48 points, or 1.7%, to 1,630.25.

Investors have been hoping Washington will provide more aid for the economy, which continues to struggle due to the pandemic. The last round of beefed-up aid for unemployed Americans expired at the end of July. Any compromise will likely face stiff resistance from Republicans in the Senate.

Pelosi and Treasury Secretary Steven Mnuchin have been negotiating daily this week on a possible aid package. On Thursday, Pelosi said that progress is still being made.

“Help is on the way. It will be bigger, it will be better, it will be safer and it will be retroactive,” she said.

A piece of such a deal could include extra benefits for workers who lost their jobs due to the coronavirus pandemic. A report on Thursday morning showed that 787,000 workers applied for unemployment benefits last week.

While that’s still an incredibly high number relative to history, it’s down from 842,000 the prior week. It also was not nearly as bad as economists were expecting.

The number of workers continuing to get jobless benefits is likewise easing from its pandemic-era peak. That’s a sign that some people have been able to find new jobs, but it also shows that others are simply using up the last of their state unemployment benefits.

The economy continues to show signs of overall improvement, said Jeff Buchbinder, equity strategist at LPL Financial, including solid gains in retail sales in September. That has dampened some of the immediate need for more stimulus, but high unemployment is still a problem.

“There’s a ways to go, but the outperformance of the U.S. economy over the last several months clearly reduced the need for stimulus,” he said. “There's widespread agreement that more stimulus is needed, but it may be more targeted.”

Another report showed that sales of previously occupied homes accelerated even more last month than economists expected. Low mortgage rates are driving the action, as is a surge in interest in homes in Lake Tahoe and other resort areas as people look to work from home in more attractive locales, according to the National Association of Realtors.

Big companies, meanwhile, continue to report profits for the summer that took a hit from the coronavirus-caused recession. But they’re mostly not as bad as feared.

Align Technology, which makes Invisalign teeth straighteners, surged 35% for the biggest gain in the S&P 500 after its earnings report blew past Wall Street’s expectations. Stronger sales to teenagers helped the company more than triple analysts’ expectations for earnings per share.

The stock’s surge helped drive health care to the biggest gain among the 11 sectors that make up the S&P 500.

AT&T strengthened by 5.8% after it reported revenue for the latest quarter that beat analysts’ expectations. Coca-Cola gained 1.4%, and Tesla rose 0.7% after both reported earnings that topped Wall Street’s forecasts.

On the losing end were several Big Tech companies. Amazon fell 0.3% and Apple dropped 1%.

Those declines are slight, particularly when compared with the gargantuan gains the stocks made earlier this year. Big Tech companies have grown so massive in size that their stock movements have outsized sway on the S&P 500 and other indexes that are based on the market value of companies.

Overall, earnings have so far been stronger than expected, Buchbinder said, which is a good sign for the economy moving forward.

“The most important thing for the market is to know that the economic recovery is continuing,” he said. “Investors are hoping to hear from companies that economic conditions are improving.”

The yield on the 10-year Treasury rose to 0.86% from 0.83% late Wednesday. It’s still close to its highest level since June.

European markets ended mostly lower, and Asian markets were mixed.


----------



## bigdog

U.S. stock indexes closed mostly higher Friday, though the S&P 500 posted its first weekly loss in four weeks.

The benchmark index eked out a 0.3% gain after another day of wobbly trading. The Dow Jones Industrial average finished with a small loss. Gains in communication services, health care and other sectors outweighed a decline in technology and energy companies. Treasury yields remained near their highest levels since June.

The indexes bounced between small gains and losses after a sluggish start as investors weighed another batch of corporate results from the summer earnings period. The up-and-down moves have been a familiar pattern recently as traders keep an eye on the ongoing negotiations between Republican and Democractic leaders in Washington over more economic aid for the pandemic-stricken economy.

“It’s generally been a little more of a selling market, and a lot of that has to do with waiting to see whether or not we get a fiscal stimulus package before the election,” said Sal Bruno, chief investment officer at IndexIQ. “The odds of that are getting lower and lower the closer we get to the election.”

The S&P 500 rose 11.90 points to 3,465.39, it's second straight gain. The Dow Jones Industrial Average dropped 28.09 points, or 0.1%, to 28,335.57. The Nasdaq composite, which is heavily weighted with technology stocks, gained 42.28 points, or 0.4%, to 11,548.28. The index had been down 0.6%.

Small company stocks continued to best the rest of the market. The Russell 2000 index rose 10.25 points, or 0.6%, to 1,640.50. The index ended the week with a 0.4% gain, while the major U.S. indexes fell.

Stocks have been mostly pushing higher this month after giving back some of their big gains this year in a sudden September swoon. Before this week, the S&P 500 had notched a weekly gain three weeks in a row. It's now up 3% for the month heading into the final week of October.

Investors are hoping for another round of government aid for businesses and millions of people who have lost their jobs during the coronavirus pandemic. The last round of supplemental aid for unemployed Americans expired at the end of July.

While House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin have been negotiating daily this week on a possible aid package. On Thursday, Pelosi said that progress is still being made, but any compromise will likely face stiff resistance from Republicans in the Senate.

Wall Street is worried that if an agreement on more economic aid isn’t reached before the Nov. 3 election, it could leave the matter in limbo should there be a protracted delay in sorting out the outcome of the voting.

“You have political incentives going on right now to try and get something done,” Bruno said. “Once the election has passed, depending on the outcome, maybe some of those political incentives shift. It scrambles the deck quite a bit.”

In their debate late Thursday, President Donald Trump and his Democratic challenger Joe Biden managed a more substantive exchange than during their first raucous clash several weeks ago. There were no major market-moving surprises.

“The final U.S. presidential debate was less chaotic than the first but offered little new information to inform the result for markets,” Stephen Innes of Axi said in a commentary. “Meanwhile, discussion relevant to the post-election economic outlook was limited, particularly from President Trump.”

Uncertainty over whether Uncle Sam will provide more support for the economy was overshadowing solid earnings reports from big companies. While many have reported profits for the summer that took a hit from the coronavirus-caused recession, their results have been mostly not as bad as feared.











https://www.usnews.com/news/busines...us-futures-gain-after-last-trump-biden-debate

*US Stocks Shake off a Wobbly Start and End Mostly Higher*

Stocks shrugged off a sluggish start and ended mostly higher on Wall Street Friday.

By Associated Press, Wire Service Content Oct. 23, 2020, at 4:46 p.m.

By ALEX VEIGA, AP Business Writer

U.S. stock indexes closed mostly higher Friday, though the S&P 500 posted its first weekly loss in four weeks.

The benchmark index eked out a 0.3% gain after another day of wobbly trading. The Dow Jones Industrial average finished with a small loss. Gains in communication services, health care and other sectors outweighed a decline in technology and energy companies. Treasury yields remained near their highest levels since June.

The indexes bounced between small gains and losses after a sluggish start as investors weighed another batch of corporate results from the summer earnings period. The up-and-down moves have been a familiar pattern recently as traders keep an eye on the ongoing negotiations between Republican and Democractic leaders in Washington over more economic aid for the pandemic-stricken economy.

“It’s generally been a little more of a selling market, and a lot of that has to do with waiting to see whether or not we get a fiscal stimulus package before the election,” said Sal Bruno, chief investment officer at IndexIQ. “The odds of that are getting lower and lower the closer we get to the election.”

The S&P 500 rose 11.90 points to 3,465.39, it's second straight gain. The Dow Jones Industrial Average dropped 28.09 points, or 0.1%, to 28,335.57. The Nasdaq composite, which is heavily weighted with technology stocks, gained 42.28 points, or 0.4%, to 11,548.28. The index had been down 0.6%.

Small company stocks continued to best the rest of the market. The Russell 2000 index rose 10.25 points, or 0.6%, to 1,640.50. The index ended the week with a 0.4% gain, while the major U.S. indexes fell.

Stocks have been mostly pushing higher this month after giving back some of their big gains this year in a sudden September swoon. Before this week, the S&P 500 had notched a weekly gain three weeks in a row. It's now up 3% for the month heading into the final week of October.

Investors are hoping for another round of government aid for businesses and millions of people who have lost their jobs during the coronavirus pandemic. The last round of supplemental aid for unemployed Americans expired at the end of July.

While House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin have been negotiating daily this week on a possible aid package. On Thursday, Pelosi said that progress is still being made, but any compromise will likely face stiff resistance from Republicans in the Senate.

Wall Street is worried that if an agreement on more economic aid isn’t reached before the Nov. 3 election, it could leave the matter in limbo should there be a protracted delay in sorting out the outcome of the voting.

“You have political incentives going on right now to try and get something done,” Bruno said. “Once the election has passed, depending on the outcome, maybe some of those political incentives shift. It scrambles the deck quite a bit.”

In their debate late Thursday, President Donald Trump and his Democratic challenger Joe Biden managed a more substantive exchange than during their first raucous clash several weeks ago. There were no major market-moving surprises.

“The final U.S. presidential debate was less chaotic than the first but offered little new information to inform the result for markets,” Stephen Innes of Axi said in a commentary. “Meanwhile, discussion relevant to the post-election economic outlook was limited, particularly from President Trump.”

Uncertainty over whether Uncle Sam will provide more support for the economy was overshadowing solid earnings reports from big companies. While many have reported profits for the summer that took a hit from the coronavirus-caused recession, their results have been mostly not as bad as feared.

Barbie maker Mattel jumped 9.6% after its latest earnings blew past analysts’ forecasts. Capital One Financial gained 1.6% after turning in robust results.

Some companies' results didn't live up to Wall Street's expectations. American Express fell 3.6% and chipmaker Intel sank 10.6%, the biggest decline in the S&P 500, after reporting weakness in its data center business. Intel’s drop helped pull the Dow into the red.

Drugmaker Gilead rose 0.2% after U.S. regulators gave formal approval to its antiviral drug remdesivir to treat patients hospitalized with COVID-19.

Treasury yields dipped but remain near their highest levels since June. The 10-year Treasury yield slipped to 0.84% from 0.87% late Thursday.

The recent pickup in bond yields follows recent encouraging data on residential construction, homebuying and retail sales. It also suggests bond investors are more optimistic that the economy will receive more aid from Washington.

“The fact that (bond yields) have been moving up is not just in support of actual data, but that the data will continue getting better moving forward, which depends to a large extent on getting a stimulus package," Bruno said.

Markets in Europe closed higher, and Asian markets mostly rose.


----------



## bigdog

*ASX 200 expected to rise.*

It looks set to be a positive start to the week for the Australian share market. According to the latest SPI futures, the ASX 200 is expected to open 0.3% or 18 points higher this morning. This follows a reasonably positive end to the week on Wall Street, which saw the Dow Jones fall 0.1%, but the S&P 500 rise 0.35% and the Nasdaq push 0.4% higher.


----------



## bigdog

U.S. stocks fell sharply Monday, deepening last week's losses, as a troubling increase in coronavirus counts put investors in a selling mood. The skid came as doubts mount on Wall Street that Washington will come through with more stimulus for the economy before Election Day.

The S&P 500 slid 1.9%, its biggest single-day decline in more than a month. The Dow Jones Industrial Average dropped 650 points after having been down more than 960 during the heaviest selling. Technology companies drove much of the broad sell-off, though losses in communications services, financial and industrial stocks helped weigh down the market. Energy stocks also dropped in tandem with crude oil prices.

Stocks also fell across much of Europe and Asia. In another sign of caution, Treasury yields pulled back after touching their highest level since June last week.

“It’s kind of a perfect storm,” said Ross Mayfield, investment strategy analyst at Baird. “The record case numbers and the kind of rolling lockdowns across Europe are getting the headlines. Oil is down on some supply and demand issues. Stimulus seems more and more unlikely by the day, at least pre-election.”

The S&P 500 fell 64.42 points to 3,400.97. The Dow slumped 650.19 points, or 2.3%, to 27,685.38. The Nasdaq composite lost 189.34 points, or 1.6%, to 11,358.94. Smaller company stocks also took heavy losses, knocking the Russell 2000 index down 35.29 points, or 2.2%, to 1,605.21.

Coronavirus counts are spiking in much of the United States and Europe, raising concerns about more damage to the still-weakened economy. The U.S. came very close to setting back-to-back record daily infection rates on Friday and Saturday. In Europe, Spain's government declared a national state of emergency on Sunday that includes an overnight curfew, while Italy ordered restaurants and bars to close each day by 6 p.m. and shut down gyms, pools and movie theaters.

Hopes are fading, meanwhile, that Washington will be able to provide more support for the economy anytime soon. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin weren't able to reach an agreement in a phone call Monday, according to a Pelosi aide. The two have been discussing a potential deal to send cash to most Americans, restart supplemental benefits for laid-off workers and provide aid to schools, among other things.

Deep partisan difference remains on Capitol Hill, and time is running out for anything to happen before Election Day on Nov. 3. Any compromise reached between House Democrats and the White House would also likely face stiff resistance from Republicans in control of the Senate. Another concern is that possible delays in sorting out the results of next week’s elections could end up pushing a stimulus deal back indefinitely.

Worries about the diminishing prospect for more stimulus in the short term helped drive the S&P 500 to a 0.5% drop last week, its first weekly loss in the last four.

“While we are seeing nations attempt to stifle the spread of the virus through more localised and tentative restrictions, it seems highly likely that we will eventually see a swathe of nationwide lockdowns if the trajectory cannot be reversed,” said Joshua Mahony, senior market analyst at IG in London.

The U.S. economy has recovered a bit since the stay-at-home restrictions that swept the country early this year eased, and economists expect a report on Thursday to show it grew at an annual rate of 30.2% during the summer quarter after shrinking 31.4% during the second quarter.

But momentum has slowed recently after a prior round of supplemental unemployment benefits and other stimulus that Congress approved earlier this year expired.

Stocks of companies that need the virus to abate and the economy to return to normal logging some of the sharpest losses Monday.

Norwegian Cruise Line Holdings fell 8.4%, Marathon Oil dropped 7% and United Airlines lost 7%.

Energy stocks dropped to the largest loss among the 11 sectors that make up the S&P 500, falling in concert with oil prices. All the stocks in the index closed lower.

Among the market’s few gainers were companies that can succeed even in a stay-at-home economy. Zoom Video Communications gained 1.2%.

Amazon fared much better than the broader market, recovering from an early loss to close 0.1% higher, while Apple lost an early gain and ended flat. Expectations are high for them, and analysts say they'll report strong results for their latest quarter this week. They and other Big Tech stocks have soared through the pandemic on hopes their growth will only continue as work-from-home and other trends that benefit them accelerate.

This upcoming week is the busiest of this quarter's earnings season, with more than a third of the companies in the S&P 500 index scheduled to report. Besides Amazon and Apple, Ford Motor, General Electric and Google's parent company, Alphabet, are also on the docket.

Across the S&P 500, profit reports for the summer have been mostly better than Wall Street had feared, though they’re still on pace to be more than 16% lower than year-ago levels. Through Friday, 84% of S&P 500 companies reported better results than analysts had forecast, according to FactSet. If that level holds, it would be the best since at least 2008, when FactSet’s records begin.

Meanwhile, the upcoming U.S. elections could mean more short-term uncertainty in the markets and the results could determine the size and timing of any aid from Congress, said Esty Dwek, head of global market strategy at Natixis Investment Managers.

*ASX 200 expected to sink lower.*

The Australian share market looks set to sink notably lower on Tuesday after rising COVID-19 levels led to global markets being sold off overnight. According to the latest SPI futures, the ASX 200 is expected to open the day 57 points or 0.9% lower this morning. 

The S&P 500 fell 64.42 points to 3,400.97. The Dow slumped 650.19 points, or 2.3%, to 27,685.38. The Nasdaq composite lost 189.34 points, or 1.6%, to 11,358.94. Smaller company stocks also took heavy losses, knocking the Russell 2000 index down 35.29 points, or 2.2%, to 1,605.21.










https://www.usnews.com/news/busines...s-mostly-fall-on-uncertainty-over-us-election

*Stocks Have Their Worst Day in a Month as Virus Cases Surge*
The stock market had its worst day in a month as virus cases surge and help for the economy from Washington remains nowhere in sight.

By Associated Press, Wire Service Content Oct. 26, 2020, at 4:44 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

U.S. stocks fell sharply Monday, deepening last week's losses, as a troubling increase in coronavirus counts put investors in a selling mood. The skid came as doubts mount on Wall Street that Washington will come through with more stimulus for the economy before Election Day.

The S&P 500 slid 1.9%, its biggest single-day decline in more than a month. The Dow Jones Industrial Average dropped 650 points after having been down more than 960 during the heaviest selling. Technology companies drove much of the broad sell-off, though losses in communications services, financial and industrial stocks helped weigh down the market. Energy stocks also dropped in tandem with crude oil prices.

Stocks also fell across much of Europe and Asia. In another sign of caution, Treasury yields pulled back after touching their highest level since June last week.

“It’s kind of a perfect storm,” said Ross Mayfield, investment strategy analyst at Baird. “The record case numbers and the kind of rolling lockdowns across Europe are getting the headlines. Oil is down on some supply and demand issues. Stimulus seems more and more unlikely by the day, at least pre-election.”

The S&P 500 fell 64.42 points to 3,400.97. The Dow slumped 650.19 points, or 2.3%, to 27,685.38. The Nasdaq composite lost 189.34 points, or 1.6%, to 11,358.94. Smaller company stocks also took heavy losses, knocking the Russell 2000 index down 35.29 points, or 2.2%, to 1,605.21.

Coronavirus counts are spiking in much of the United States and Europe, raising concerns about more damage to the still-weakened economy. The U.S. came very close to setting back-to-back record daily infection rates on Friday and Saturday. In Europe, Spain's government declared a national state of emergency on Sunday that includes an overnight curfew, while Italy ordered restaurants and bars to close each day by 6 p.m. and shut down gyms, pools and movie theaters.

Hopes are fading, meanwhile, that Washington will be able to provide more support for the economy anytime soon. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin weren't able to reach an agreement in a phone call Monday, according to a Pelosi aide. The two have been discussing a potential deal to send cash to most Americans, restart supplemental benefits for laid-off workers and provide aid to schools, among other things.

Deep partisan difference remains on Capitol Hill, and time is running out for anything to happen before Election Day on Nov. 3. Any compromise reached between House Democrats and the White House would also likely face stiff resistance from Republicans in control of the Senate. Another concern is that possible delays in sorting out the results of next week’s elections could end up pushing a stimulus deal back indefinitely.

Worries about the diminishing prospect for more stimulus in the short term helped drive the S&P 500 to a 0.5% drop last week, its first weekly loss in the last four.

“While we are seeing nations attempt to stifle the spread of the virus through more localised and tentative restrictions, it seems highly likely that we will eventually see a swathe of nationwide lockdowns if the trajectory cannot be reversed,” said Joshua Mahony, senior market analyst at IG in London.

The U.S. economy has recovered a bit since the stay-at-home restrictions that swept the country early this year eased, and economists expect a report on Thursday to show it grew at an annual rate of 30.2% during the summer quarter after shrinking 31.4% during the second quarter.

But momentum has slowed recently after a prior round of supplemental unemployment benefits and other stimulus that Congress approved earlier this year expired.

Stocks of companies that need the virus to abate and the economy to return to normal logging some of the sharpest losses Monday.

Norwegian Cruise Line Holdings fell 8.4%, Marathon Oil dropped 7% and United Airlines lost 7%.

Energy stocks dropped to the largest loss among the 11 sectors that make up the S&P 500, falling in concert with oil prices. All the stocks in the index closed lower.

Among the market’s few gainers were companies that can succeed even in a stay-at-home economy. Zoom Video Communications gained 1.2%.

Amazon fared much better than the broader market, recovering from an early loss to close 0.1% higher, while Apple lost an early gain and ended flat. Expectations are high for them, and analysts say they'll report strong results for their latest quarter this week. They and other Big Tech stocks have soared through the pandemic on hopes their growth will only continue as work-from-home and other trends that benefit them accelerate.

This upcoming week is the busiest of this quarter's earnings season, with more than a third of the companies in the S&P 500 index scheduled to report. Besides Amazon and Apple, Ford Motor, General Electric and Google's parent company, Alphabet, are also on the docket.

Across the S&P 500, profit reports for the summer have been mostly better than Wall Street had feared, though they’re still on pace to be more than 16% lower than year-ago levels. Through Friday, 84% of S&P 500 companies reported better results than analysts had forecast, according to FactSet. If that level holds, it would be the best since at least 2008, when FactSet’s records begin.

Meanwhile, the upcoming U.S. elections could mean more short-term uncertainty in the markets and the results could determine the size and timing of any aid from Congress, said Esty Dwek, head of global market strategy at Natixis Investment Managers.

“It’s going to be a little bit volatile in the next week depending on the results, but we’re not expecting weeks of uncertainty,” she said.

European and Asian markets closed lower. The yield on the 10-year Treasury fell to 0.80% from 0.85% late Friday.


----------



## bigdog

Wall Street's losses mounted for the second straight day Tuesday as momentum slows on worries about rising virus counts and Washington's inability to deliver more aid to the economy.

The S&P 500 fell 0.3% after spending much of the day swinging between small gains and losses. Most of the stocks in the index fell, particularly banks, oil producers and other companies whose profits tend to track the strength of the economy. Those losses outweighed gains in technology stocks and companies that rely on consumer spending. Traders also welcomed news that AMD has agreed to buy fellow chipmaker Xilinx for $35 billion.

The market’s latest pullback, which follows the S&P 500's worst day in a month, cuts further into what had been a solid rebound this month after heavy selling in September snapped a five-month winning streak. Just two weeks ago, the S&P 500 was holding on to 4.4% gain for the month. It’s now on track for a gain of just 0.8%.

“Even though we had a really nice runup for a few months, we had been concerned there would be some volatility coming in pre-election, and it’s just a function of the huge uncertainty level,” said Lisa Erickson, head of the Traditional Investment Group at U.S Bank Wealth Management.

The S&P 500 fell 10.29 points to 3,390.68. The Dow Jones Industrial Average lost 222.19 points, or 0.8%, to 27,463.19. The Nasdaq composite rose 72.41 points, or 0.6%, to 11,431.35.

Caution continues to hang over markets. Coronavirus counts keep climbing at a troubling rate across much of the United States and Europe. The worry is that could lead to the return of lockdowns aimed at slowing the pandemic’s spread, which could further choke off the improvements the economy showed during the summer.

The U.S. economy’s momentum has already slowed following the expiration of supplemental benefits for laid-off workers and other support that Congress approved for the economy earlier this year.

Reports on the economy released Tuesday were mixed. Orders for big-ticket manufactured goods rose 1.9% in September, an acceleration from August’s 0.4% growth and better than economists expected but well below July’s 11.8%. Consumer confidence also weakened a bit in October, when economists were expecting it to hold steady.

“The market was really set up for any sort of a negative surprise that could potentially impact it,” said Scott Knapp, chief market strategist at CUNA Mutual Group.

Investors have been clamoring for Congress to deliver another round of stimulus for the economy, but they’re increasingly acknowledging it won’t happen anytime soon.

House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin continued their negotiations on a deal Monday afternoon, and a Pelosi spokesman said she’s optimistic an agreement can happen before Election Day next week. But even if a deal is reached, it could wither in the face of resistance from Republicans controlling the Senate. After confirming the latest Supreme Court justice, the Senate is unlikely to return to session until Nov. 9.

“The market has accepted the odds of a stimulus package before the election and even before the end of the year have gone down dramatically,” said Adam Taback, chief investment officer for Wells Fargo Private Bank.

Wall Street's caution is also apparent in how it's reacting to corporate profit reports. Through the first two weeks of earnings season, companies that reported better results than expected have not been getting the typical pop in their stock price the day after.

“Companies that are beating expectations are not being rewarded to the degree that companies that miss expectations are being punished,” Knapp said. “That’s going to be the case when you have valuations this high."

*ASX 200 expected to drop lower again.*

It looks set to be another tough day of trade for the Australian share market after COVID-19 cases continue to rise globally. According to the latest SPI futures, the ASX 200 is expected to open the day 26 points or 0.4% lower.  The S&P 500 fell 10.29 points to 3,390.68. The Dow Jones Industrial Average lost 222.19 points, or 0.8%, to 27,463.19. The Nasdaq composite rose 72.41 points, or 0.6%, to 11,431.35.










https://www.usnews.com/news/busines...ares-slip-after-wall-sts-worst-day-in-a-month

*Stocks End Another Wobbly Day Lower as Virus Cases Rise*
Stock indexes closed mostly lower on Wall Street Tuesday as the market's momentum slows further on worries about rising virus counts and Washington’s inability to deliver more aid to the economy.
By Associated Press, Wire Service Content Oct. 27, 2020, at 4:48 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street's losses mounted for the second straight day Tuesday as momentum slows on worries about rising virus counts and Washington's inability to deliver more aid to the economy.

The S&P 500 fell 0.3% after spending much of the day swinging between small gains and losses. Most of the stocks in the index fell, particularly banks, oil producers and other companies whose profits tend to track the strength of the economy. Those losses outweighed gains in technology stocks and companies that rely on consumer spending. Traders also welcomed news that AMD has agreed to buy fellow chipmaker Xilinx for $35 billion.

The market’s latest pullback, which follows the S&P 500's worst day in a month, cuts further into what had been a solid rebound this month after heavy selling in September snapped a five-month winning streak. Just two weeks ago, the S&P 500 was holding on to 4.4% gain for the month. It’s now on track for a gain of just 0.8%.

“Even though we had a really nice runup for a few months, we had been concerned there would be some volatility coming in pre-election, and it’s just a function of the huge uncertainty level,” said Lisa Erickson, head of the Traditional Investment Group at U.S Bank Wealth Management.

The S&P 500 fell 10.29 points to 3,390.68. The Dow Jones Industrial Average lost 222.19 points, or 0.8%, to 27,463.19. The Nasdaq composite rose 72.41 points, or 0.6%, to 11,431.35.

Caution continues to hang over markets. Coronavirus counts keep climbing at a troubling rate across much of the United States and Europe. The worry is that could lead to the return of lockdowns aimed at slowing the pandemic’s spread, which could further choke off the improvements the economy showed during the summer.

The U.S. economy’s momentum has already slowed following the expiration of supplemental benefits for laid-off workers and other support that Congress approved for the economy earlier this year.

Reports on the economy released Tuesday were mixed. Orders for big-ticket manufactured goods rose 1.9% in September, an acceleration from August’s 0.4% growth and better than economists expected but well below July’s 11.8%. Consumer confidence also weakened a bit in October, when economists were expecting it to hold steady.

“The market was really set up for any sort of a negative surprise that could potentially impact it,” said Scott Knapp, chief market strategist at CUNA Mutual Group.

Investors have been clamoring for Congress to deliver another round of stimulus for the economy, but they’re increasingly acknowledging it won’t happen anytime soon.

House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin continued their negotiations on a deal Monday afternoon, and a Pelosi spokesman said she’s optimistic an agreement can happen before Election Day next week. But even if a deal is reached, it could wither in the face of resistance from Republicans controlling the Senate. After confirming the latest Supreme Court justice, the Senate is unlikely to return to session until Nov. 9.

“The market has accepted the odds of a stimulus package before the election and even before the end of the year have gone down dramatically,” said Adam Taback, chief investment officer for Wells Fargo Private Bank.

Wall Street's caution is also apparent in how it's reacting to corporate profit reports. Through the first two weeks of earnings season, companies that reported better results than expected have not been getting the typical pop in their stock price the day after.

“Companies that are beating expectations are not being rewarded to the degree that companies that miss expectations are being punished,” Knapp said. “That’s going to be the case when you have valuations this high."

The parade of companies reporting better profits than expected for the last quarter continued to grow Tuesday, helping to steady the market somewhat. Merck, Invesco and Laboratory Corp. of America were among the roughly two dozen companies in the S&P 500 reporting earnings for the summer that topped analysts’ expectations.

F5 Networks climbed 8.5% for one of the biggest gains in the S&P 500 after it reported better earnings than expected. But 3M fell 3.1% despite likewise reporting stronger results than forecast.

Caterpillar slid 3.2% after reporting stronger earnings than expected, while Eli Lilly slumped 6.9% after its profit report fell short of Wall Street's forecast.

This is the busiest week of earnings reporting season, and Microsoft is the next big company on the schedule after trading ends Tuesday.

Xilinx jumped 8.6% for the biggest gain in the S&P 500 following the announcement of its all-stock acquisition by AMD.

In another sign of increased caution, Treasury yields retrenched again. The yield on the 10-year Treasury dipped to 0.77% from 0.81% late Monday.

European stock markets fell, and Asian markets ended mixed.


----------



## bigdog

The Dow Jones Industrial Average sank 943 points Wednesday as surging coronavirus cases forced more shutdown measures in Europe and raised fears of more restrictions in the U.S.

The S&P 500 slid 3.5%, its third straight loss and its biggest drop since June. The benchmark index is already down 5.6% this week, on track for its biggest weekly decline since March. That's when the market was in the midst of selling off as strict lockdowns around the world choked the economy into recession.

Investors are growing increasingly anxious that the economy will lose momentum should more shutdowns be imposed just as prospects for more economic support from Washington have dwindled as Election Day nears.

“Many people had come to believe we were at least stable, and now we’re having a second uptick, which throws potential GDP and everything else up in the air,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab. ”I did not expect this level of volatility or this degree of a sell-off.”

The S&P 500 lost 119.65 points to 3,271.03. The Dow lost 943.24 points, or 3.4%, to 26,519.95. The Nasdaq composite slumped 426.48 points, or 3.7%, to 11,004.87. The selling was widespread, and 96% of stocks in the S&P 500 fell.

The selling in U.S. markets followed broad declines in Europe, where the French president announced tough measures to slow the virus’ spread and German officials agreed to impose a four-week partial lockdown. The measures may not be as stringent as the shutdown orders that swept the world early this year, but the worry is they could still hit the already weakened global economy.

Coronavirus counts are also climbing at a troubling rate in much of the United States, and the number of deaths and hospitalizations due to COVID-19 are on the rise. Even if the most restrictive lockdowns don’t return, investors worry that the worsening pandemic could scare away customers of businesses regardless and sap away their profits.

Crude oil tumbled on worries that an economy already weakened by the virus would consume even less energy and allow excess supplies to build higher. Benchmark U.S. crude dropped 5.7% to $37.39 per barrel. Brent crude, the international standard, fell 5.4% to $39.12 per barrel.

Instead, investors headed into the safety of U.S. government bonds. The yield on the 10-year Treasury note fell to 0.77% from 0.79% late Tuesday. It was as high as 0.87% last week.

A measure of fear in the stock market touched its highest level since June, when the market suddenly tumbled amid concerns that a “second wave” of coronavirus infections had arrived. The VIX measures how much volatility investors expect from the S&P 500, and it climbed 20.8% Wednesday.

Even the continued parade of better-than-expected reports on corporate profits for the summer failed to shift the momentum.

Microsoft, the second-biggest company in the S&P 500, reported stronger profit and revenue for its latest quarter than expected. That’s typically good for a stock, but Microsoft nevertheless slumped 5%. It gave a forecast for the current quarter that was relatively in line with Wall Street forecasts, but analysts noted some caveats in it.

UPS fell 8.8% after also reporting better-than-expected earnings, though it said the outlook for its business is too cloudy due to the pandemic to offer any forecasts for its revenue or profits in the current quarter.

Companies broadly have not been getting as big a pop in their stock prices as they typically do after reporting healthier-than-expected profits. Analysts say that suggests good news on profits has already been built into stock prices and that the market’s focus is elsewhere.

Investors' hopes that Congress and the White House could soon offer more big support for the economy as it struggles through the pandemic have largely faded. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin have continued their talks, but investors see little chance of a deal happening before Election Day next week.

Economists say the economy likely needs such aid after the expiration of the last round of supplemental unemployment benefits and other stimulus approved by Washington earlier this year.

Uncertainty about the upcoming presidential election has also been pushing markets around.

“The market never likes uncertainty," said Stephanie Roth, portfolio macro analyst at J.P. Morgan Private Bank. "People are just taking profits ahead of the election, to some extent.”

The race seems be getting tighter than it was just a few weeks ago, said Jamie Cox, managing partner for Harris Financial Group. “It has markets somewhat unnerved that the prospects of a contested election are back in the mix,” he said.

Cox said he expects more calm in the markets in November after the election passes and some of the uncertainty over a new aid package fades.

*ASX 200 expected to crash lower.*

The Australian share market looks set to crash notably lower this morning following a terrible night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 82 points or 1.35% lower.  The S&P 500 lost 119.65 points to 3,271.03. The Dow lost 943.24 points, or 3.4%, to 26,519.95. The Nasdaq composite slumped 426.48 points, or 3.7%, to 11,004.87. The selling was widespread, and 96% of stocks in the S&P 500 fell.










https://www.usnews.com/news/busines...ostly-higher-despite-worries-over-virus-cases

*S&P 500 Sinks 3.5% as Surging Virus Cases Lead to Shutdowns*
The Dow Jones Industrial Average dropped 943 points Wednesday as surging coronavirus cases in the Europe resulted in more lockdowns there, threatening more pain for the economy.
By Associated Press, Wire Service Content Oct. 28, 2020, at 4:48 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

The Dow Jones Industrial Average sank 943 points Wednesday as surging coronavirus cases forced more shutdown measures in Europe and raised fears of more restrictions in the U.S.

The S&P 500 slid 3.5%, its third straight loss and its biggest drop since June. The benchmark index is already down 5.6% this week, on track for its biggest weekly decline since March. That's when the market was in the midst of selling off as strict lockdowns around the world choked the economy into recession.

Investors are growing increasingly anxious that the economy will lose momentum should more shutdowns be imposed just as prospects for more economic support from Washington have dwindled as Election Day nears.

“Many people had come to believe we were at least stable, and now we’re having a second uptick, which throws potential GDP and everything else up in the air,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab. ”I did not expect this level of volatility or this degree of a sell-off.”

The S&P 500 lost 119.65 points to 3,271.03. The Dow lost 943.24 points, or 3.4%, to 26,519.95. The Nasdaq composite slumped 426.48 points, or 3.7%, to 11,004.87. The selling was widespread, and 96% of stocks in the S&P 500 fell.

The selling in U.S. markets followed broad declines in Europe, where the French president announced tough measures to slow the virus’ spread and German officials agreed to impose a four-week partial lockdown. The measures may not be as stringent as the shutdown orders that swept the world early this year, but the worry is they could still hit the already weakened global economy.

Coronavirus counts are also climbing at a troubling rate in much of the United States, and the number of deaths and hospitalizations due to COVID-19 are on the rise. Even if the most restrictive lockdowns don’t return, investors worry that the worsening pandemic could scare away customers of businesses regardless and sap away their profits.

Crude oil tumbled on worries that an economy already weakened by the virus would consume even less energy and allow excess supplies to build higher. Benchmark U.S. crude dropped 5.7% to $37.39 per barrel. Brent crude, the international standard, fell 5.4% to $39.12 per barrel.

Instead, investors headed into the safety of U.S. government bonds. The yield on the 10-year Treasury note fell to 0.77% from 0.79% late Tuesday. It was as high as 0.87% last week.

A measure of fear in the stock market touched its highest level since June, when the market suddenly tumbled amid concerns that a “second wave” of coronavirus infections had arrived. The VIX measures how much volatility investors expect from the S&P 500, and it climbed 20.8% Wednesday.

Even the continued parade of better-than-expected reports on corporate profits for the summer failed to shift the momentum.

Microsoft, the second-biggest company in the S&P 500, reported stronger profit and revenue for its latest quarter than expected. That’s typically good for a stock, but Microsoft nevertheless slumped 5%. It gave a forecast for the current quarter that was relatively in line with Wall Street forecasts, but analysts noted some caveats in it.

UPS fell 8.8% after also reporting better-than-expected earnings, though it said the outlook for its business is too cloudy due to the pandemic to offer any forecasts for its revenue or profits in the current quarter.

Companies broadly have not been getting as big a pop in their stock prices as they typically do after reporting healthier-than-expected profits. Analysts say that suggests good news on profits has already been built into stock prices and that the market’s focus is elsewhere.

Investors' hopes that Congress and the White House could soon offer more big support for the economy as it struggles through the pandemic have largely faded. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin have continued their talks, but investors see little chance of a deal happening before Election Day next week.

Economists say the economy likely needs such aid after the expiration of the last round of supplemental unemployment benefits and other stimulus approved by Washington earlier this year.

Uncertainty about the upcoming presidential election has also been pushing markets around.

“The market never likes uncertainty," said Stephanie Roth, portfolio macro analyst at J.P. Morgan Private Bank. "People are just taking profits ahead of the election, to some extent.”

The race seems be getting tighter than it was just a few weeks ago, said Jamie Cox, managing partner for Harris Financial Group. “It has markets somewhat unnerved that the prospects of a contested election are back in the mix,” he said.

Cox said he expects more calm in the markets in November after the election passes and some of the uncertainty over a new aid package fades.

“Aid is coming regardless. There’ll be no political motivation to hold it back after the election,” he said. “There’s plenty of desire to get money out to people so I think it will happen one way or another in November.”


----------



## bigdog

U.S. stocks shook off an early slide and closed broadly higher Thursday as the market steadied after its worst drop in more than four months.

The S&P 500 rose 1.2%, bouncing back from a drop of 0.3% in the early going. Traders welcomed encouraging data on the pace of layoffs and how powerfully the economy rebounded during the summer from its coronavirus-induced coma. Economists warn big challenges still lie ahead, though. The S&P 500 was coming off a 3.5% tumble Wednesday on worries the worsening pandemic will drag down the economy and corporate profits again.

A strong rebound in technology sector stocks helped power the rally ahead of widely anticipated quarterly report cards from Facebook, Amazon and Google’s parent company. The three Big Tech companies each reported results after the close of regular trading that topped Wall Street's expectations.

“If you look at the leadership today, it’s back to the mega-cap names,” said Willie Delwiche, an investment strategist at Baird. “It’s in anticipation of good earnings this evening when you have a whole swath of companies reporting.”

The S&P 500 rose 39.08 points to 3,310.11. The gain was less than half of what the benchmark index lost a day earlier. The Dow Jones Industrial Average gained 139.16 points, or 0.5%, to 26,659.11. The index had been down 229 points and as high as 371 points.

The tech-heavy Nasdaq composite fared better than the rest of the market. It climbed 180.72 points, or 1.6%, to 11,185.59.

The major stock indexes are still on track to post weekly losses, including the second straight weekly decline for the S&P 500.

Across the Atlantic, European stocks initially rose but leveled off after the head of the European Central Bank said there's “little doubt” it will deliver more stimulus in December. They were also recovering from a sharp slide on Wednesday, when France and Germany announced new restrictions on businesses in hopes of slowing the accelerating spread of the virus.

Despite the relatively calm moves, caution continues to hang over the market. A measure of investors’ fear in the U.S. stock market touched its highest level since June before receding Thursday, and oil prices continued their sharp descent on worries about demand from a virus-weakened economy.

Beyond Europe, coronavirus cases are also on the rise in the United States, raising worries about restrictions on businesses returning. Even if the sweeping lockdowns that suffocated the economy earlier this year don’t come back, the fear is that the worsening pandemic could nevertheless keep customers away from businesses and undercut their profits.

“The future still looks cloudy," said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. “What happens with the virus will definitely determine consumers' behavior.”

The economy had been making strides in the summer, and it grew at a record annual rate of 33.1% from July through September, according to a government estimate released Thursday. That followed up on its crash from April through June, when it shrank at an annualized rate of 31.4%.

More recently, the number of U.S. workers applying for unemployment benefits eased last week to 751,000. While that’s still incredibly high compared with before COVID-19, it’s not as bad as the 791,000 from the prior week. It was also better than economists had forecast.

But the budding recovery is under threat now with coronavirus cases surging and with Congress and the White House unable to deliver additional support for the economy. Economists and investors have been asking for such assistance since the summer, when the last round of supplemental benefits for laid-off workers and other stimulus approved by Congress earlier this year expired.

Hopes are fading that Washington can get anything done soon, and House Speaker Nancy Pelosi sent a letter to Treasury Secretary Steven Mnuchin on Thursday listing all the topics she's waiting to hear back on in their negotiations. They include benefits for laid-off workers and measures on coronavirus testing.

Investors had their eye on another batch of corporate earnings reports Thursday. Heading into the earnings season, expectations have been high for Facebook, Amazon and other Big Tech companies, which have been largely cruising through the pandemic. Investors have bid up their stock prices on the belief that their profits will continue to soar as work-from-home and other trends accelerated by the pandemic hold.


Australian shares are poised to bounce, following Wall Street, as investors opted to 'buy the dip' in the wake of the previous day's sell-off. The US economy expanded 7.4 per cent in the third quarter.

ASX futures were up 40 points or 0.7% to 5976 near 6.40am AEDT.










https://www.usnews.com/news/busines...es-lower-us-futures-up-after-s-p-500-sinks-35

*Wall Street Ends Higher After Shaking off a Wobbly Start*
*Stocks are closing broadly higher on Wall Street after shaking off a wobbly start.*
By Associated Press, Wire Service Content Oct. 29, 2020, at 4:33 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

U.S. stocks shook off an early slide and closed broadly higher Thursday as the market steadied after its worst drop in more than four months.

The S&P 500 rose 1.2%, bouncing back from a drop of 0.3% in the early going. Traders welcomed encouraging data on the pace of layoffs and how powerfully the economy rebounded during the summer from its coronavirus-induced coma. Economists warn big challenges still lie ahead, though. The S&P 500 was coming off a 3.5% tumble Wednesday on worries the worsening pandemic will drag down the economy and corporate profits again.

A strong rebound in technology sector stocks helped power the rally ahead of widely anticipated quarterly report cards from Facebook, Amazon and Google’s parent company. The three Big Tech companies each reported results after the close of regular trading that topped Wall Street's expectations.

“If you look at the leadership today, it’s back to the mega-cap names,” said Willie Delwiche, an investment strategist at Baird. “It’s in anticipation of good earnings this evening when you have a whole swath of companies reporting.”

The S&P 500 rose 39.08 points to 3,310.11. The gain was less than half of what the benchmark index lost a day earlier. The Dow Jones Industrial Average gained 139.16 points, or 0.5%, to 26,659.11. The index had been down 229 points and as high as 371 points.

The tech-heavy Nasdaq composite fared better than the rest of the market. It climbed 180.72 points, or 1.6%, to 11,185.59.

The major stock indexes are still on track to post weekly losses, including the second straight weekly decline for the S&P 500.

Across the Atlantic, European stocks initially rose but leveled off after the head of the European Central Bank said there's “little doubt” it will deliver more stimulus in December. They were also recovering from a sharp slide on Wednesday, when France and Germany announced new restrictions on businesses in hopes of slowing the accelerating spread of the virus.

Despite the relatively calm moves, caution continues to hang over the market. A measure of investors’ fear in the U.S. stock market touched its highest level since June before receding Thursday, and oil prices continued their sharp descent on worries about demand from a virus-weakened economy.

Beyond Europe, coronavirus cases are also on the rise in the United States, raising worries about restrictions on businesses returning. Even if the sweeping lockdowns that suffocated the economy earlier this year don’t come back, the fear is that the worsening pandemic could nevertheless keep customers away from businesses and undercut their profits.

“The future still looks cloudy," said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. “What happens with the virus will definitely determine consumers' behavior.”

The economy had been making strides in the summer, and it grew at a record annual rate of 33.1% from July through September, according to a government estimate released Thursday. That followed up on its crash from April through June, when it shrank at an annualized rate of 31.4%.

More recently, the number of U.S. workers applying for unemployment benefits eased last week to 751,000. While that’s still incredibly high compared with before COVID-19, it’s not as bad as the 791,000 from the prior week. It was also better than economists had forecast.

But the budding recovery is under threat now with coronavirus cases surging and with Congress and the White House unable to deliver additional support for the economy. Economists and investors have been asking for such assistance since the summer, when the last round of supplemental benefits for laid-off workers and other stimulus approved by Congress earlier this year expired.

Hopes are fading that Washington can get anything done soon, and House Speaker Nancy Pelosi sent a letter to Treasury Secretary Steven Mnuchin on Thursday listing all the topics she's waiting to hear back on in their negotiations. They include benefits for laid-off workers and measures on coronavirus testing.

Investors had their eye on another batch of corporate earnings reports Thursday. Heading into the earnings season, expectations have been high for Facebook, Amazon and other Big Tech companies, which have been largely cruising through the pandemic. Investors have bid up their stock prices on the belief that their profits will continue to soar as work-from-home and other trends accelerated by the pandemic hold.

But another tech giant, Microsoft, saw the potential downside of such huge expectations on Wednesday. That’s when its stock slumped 5% even though it reported stronger profit and revenue for the latest quarter than Wall Street expected.

Across Wall Street, analysts have noted that stocks have not been getting as big a boost as they usually do after reporting stronger profits than forecast.

That's dampened the enthusiasm following what's been a better reporting season than Wall Street had feared. Earnings per share for S&P 500 companies are on track to be down about 13% from a year earlier. That's a much milder drop than the nearly 21% decline that Wall Street was forecasting at the start of October, according to FactSet.

The yield on the 10-year Treasury rose to 0.83% from 0.79% late Wednesday.


----------



## bigdog

Wall Street closed out another punishing week Friday with the S&P 500 posting its first back-to-back monthly loss since the pandemic first gripped the economy in March.

The S&P 500 dropped 1.2% and ended the week with a 5.6% loss, its worst in seven months. Sharp drops in big technology stocks drove much of the selling, reflecting worries that expectations built too high for some of the market's biggest stars, including Apple and Amazon. Investors have bid up shares in those and other Big Tech companies this year, anticipating they would deliver strong profits, but their latest results and uncertain outlooks left traders wanting.

Wall Street was already wracked by fears about the potential economic damage from surging coronavirus counts around the world, Washington’s inability to provide more support for the economy and uncertainty surrounding the presidential election. President Donald Trump often cites the stock market as a barometer of his administration’s performance on the economy.

“Today, you have investors who are taking profits in the tech stocks that they expected to do well in the third quarter,” said Sam Stovall, chief investment strategist at CFRA. “And now the focus once again is on Covid-19, and investors are just selling ahead of a weekend.”

The S&P 500 lost 40.15 points to 3,269.96. It ended October with a 2.8% loss. The Dow Jones Industrial Average fell 157.71 points, or 0.6%, to 26,501.60. Earlier, it had been being down 515 points.

The Nasdaq composite gave up 274 points, or 2.5%, to 10,911.59. The tech-heavy index is within 0.6% of a “correction,” Wall Street-speak for a decline of 10% or more from an all-time high.

Much of the market's focus Friday was on Apple, Amazon, Facebook and Google’s parent company. They are four of the five biggest stocks in the S&P 500 by market value, which gives their movements outsized sway on the index, and they were principal forces behind Wall Street’s huge rally since March.

All four reported profit for the summer that was even better than analysts were expecting, just like the other stock in the Big Five did earlier this week. But also like Microsoft, most nevertheless fell as investors found reasons for concern within their reports.

Apple dropped 5.6% after investors focused on weaker revenue than expected for its iPhones and sales in China. Amazon fell 5.4%, and Facebook lost 6.3%.

Twitter, another high-profile tech stock, slumped 21.1% for the largest loss by far among stocks in the S&P 500. It also reported better-than-expected earnings for the latest quarter. Investors focused instead on its growth in daily users, which fell short of analysts’ expectations.

Google’s parent company, Alphabet, was an outlier and rose 3.8% after reporting growth in digital ad spending.

A similar trend has been occurring across the market: Stocks are not getting the bounce they usually do after reporting results that beat analysts' expectations. And they’ve been giving investors plenty of opportunities to do so: With nearly three quarters of the S&P 500 by market value having reported, 84% of companies have beat expectations, according to Credit Suisse.

Analysts say that's an indication that expectations may have built too high through the market's big rally and that investors' attention may simply be elsewhere given all the uncertainties sweeping the market.

Much of the market’s focus has been on what’s to come for the economy when coronavirus counts are rising at troubling rates across Europe and the United States.

Several European governments have already brought back restrictions on businesses to slow the spread of the virus. Even if the strictest lockdowns don’t return in the United States, the worry is the pandemic's rising death toll will drive customers away from businesses by itself and undercut profits.

“Because of the spike in Covid-19 overseas, with Germany and France in lockdown mode once again, the implication is that we could be heading into a double-dip recession in Europe, and that would have negative future implications for our economic growth.” Stovall said.

Meanwhile, Washington has been unable to deliver more aid to the economy. That's despite investors and economists saying it's sorely needed following the expiration of supplemental benefits for laid-off workers and other stimulus approved by Congress earlier this year.













			https://www.usnews.com/news/business/articles/2020-10-30/asian-shares-fall-back-after-wall-street-rebound
		


*Tech Losses Drive Wall Street Down Again, Ending Grim Week*

Sharp drops in Apple, Facebook and other big technology companies ended a miserable week on Wall Street on another sour note.

By Associated Press, Wire Service Content Oct. 30, 2020, at 4:51 p.m.



By STAN CHOE and ALEX VEIGA, AP Business Writers

Wall Street closed out another punishing week Friday with the S&P 500 posting its first back-to-back monthly loss since the pandemic first gripped the economy in March.

The S&P 500 dropped 1.2% and ended the week with a 5.6% loss, its worst in seven months. Sharp drops in big technology stocks drove much of the selling, reflecting worries that expectations built too high for some of the market's biggest stars, including Apple and Amazon. Investors have bid up shares in those and other Big Tech companies this year, anticipating they would deliver strong profits, but their latest results and uncertain outlooks left traders wanting.

Wall Street was already wracked by fears about the potential economic damage from surging coronavirus counts around the world, Washington’s inability to provide more support for the economy and uncertainty surrounding the presidential election. President Donald Trump often cites the stock market as a barometer of his administration’s performance on the economy.

“Today, you have investors who are taking profits in the tech stocks that they expected to do well in the third quarter,” said Sam Stovall, chief investment strategist at CFRA. “And now the focus once again is on Covid-19, and investors are just selling ahead of a weekend.”

The S&P 500 lost 40.15 points to 3,269.96. It ended October with a 2.8% loss. The Dow Jones Industrial Average fell 157.71 points, or 0.6%, to 26,501.60. Earlier, it had been being down 515 points.

The Nasdaq composite gave up 274 points, or 2.5%, to 10,911.59. The tech-heavy index is within 0.6% of a “correction,” Wall Street-speak for a decline of 10% or more from an all-time high.

Much of the market's focus Friday was on Apple, Amazon, Facebook and Google’s parent company. They are four of the five biggest stocks in the S&P 500 by market value, which gives their movements outsized sway on the index, and they were principal forces behind Wall Street’s huge rally since March.

All four reported profit for the summer that was even better than analysts were expecting, just like the other stock in the Big Five did earlier this week. But also like Microsoft, most nevertheless fell as investors found reasons for concern within their reports.

Apple dropped 5.6% after investors focused on weaker revenue than expected for its iPhones and sales in China. Amazon fell 5.4%, and Facebook lost 6.3%.

Twitter, another high-profile tech stock, slumped 21.1% for the largest loss by far among stocks in the S&P 500. It also reported better-than-expected earnings for the latest quarter. Investors focused instead on its growth in daily users, which fell short of analysts’ expectations.

Google’s parent company, Alphabet, was an outlier and rose 3.8% after reporting growth in digital ad spending.

A similar trend has been occurring across the market: Stocks are not getting the bounce they usually do after reporting results that beat analysts' expectations. And they’ve been giving investors plenty of opportunities to do so: With nearly three quarters of the S&P 500 by market value having reported, 84% of companies have beat expectations, according to Credit Suisse.

Analysts say that's an indication that expectations may have built too high through the market's big rally and that investors' attention may simply be elsewhere given all the uncertainties sweeping the market.

Much of the market’s focus has been on what’s to come for the economy when coronavirus counts are rising at troubling rates across Europe and the United States.

Several European governments have already brought back restrictions on businesses to slow the spread of the virus. Even if the strictest lockdowns don’t return in the United States, the worry is the pandemic's rising death toll will drive customers away from businesses by itself and undercut profits.

“Because of the spike in Covid-19 overseas, with Germany and France in lockdown mode once again, the implication is that we could be heading into a double-dip recession in Europe, and that would have negative future implications for our economic growth.” Stovall said.

Meanwhile, Washington has been unable to deliver more aid to the economy. That's despite investors and economists saying it's sorely needed following the expiration of supplemental benefits for laid-off workers and other stimulus approved by Congress earlier this year.

“The Fed is saying this, the market is saying this, and most economists are beginning to adjust their fourth quarter forecasts with the expectation that growth without stimulus is going to be hard to achieve, especially as COVID-19 cases seem to set new daily records each day,” said Kevin Giddis, chief fixed income strategist at Raymond James.

In markets around the world on Friday, caution was still continuing to dominate. But the moves were not as violent as earlier in the week.

A measure of fear in the U.S. stock market, the VIX index, flipped between small gains and losses before rising 1.1%. The yield on the 10-year Treasury ticked up to 0.87% from 0.83% late Thursday.

European markets ended mixed and Asian markets closed broadly lower.


----------



## bigdog

*ASX 200 expected to jump higher.*

The Australian share market looks set to start the week on a strong note. According to the latest SPI futures, the ASX 200 is expected to open 51 points or 0.9% higher this morning. This is despite a disappointing end to the week on Wall Street, which saw the Dow Jones fall 0.6%, the S&P 500 drop 1.2% and the Nasdaq sink 2.45% lower.


----------



## bigdog

Stocks notched broad gains on Wall Street Monday as investors looked ahead to Election Day and the potential for a turbulent stretch for markets.

The S&P 500 climbed 1.2%, recouping some of its losses from a sharp sell-off last week, as more companies reported stronger profits for the summer than Wall Street feared and reports on manufacturing came in better than expected. Health care, industrial and financial companies drove much of the broad rally, which followed gains for European and Asian stocks following their own better-than-expected economic data.

Caution, though, was continuing to hang over markets as the pandemic raises worries that customers will stay away from businesses and pushes more European governments to bring back restrictions. Uncertainty about Tuesday’s U.S. elections is also weighing on markets, and Treasury yields were mixed.

“People are probably more than willing to hold off to see what happens tomorrow night,” said David Trainer, CEO of investment research firm New Constructs.

The S&P 500 rose 40.28 to 3,310.24. The Dow Jones Industrial Average gained 423.45 points, or 1.6%, to 26,925.05. The Nasdaq composite picked up 46.02 points, or 0.4%, to 10,957.61. The index had been down 0.7%.

Small company stocks fared better than the broader market. The Russell 2000 small-caps index rose 30.11 points, or 2%, to 1,568.59.

It’s an incredibly busy week for markets, with the Federal Reserve announcing its latest decision on interest rates Thursday, the U.S. Labor Department releasing its market-moving monthly jobs report on Friday and roughly 130 companies in the S&P 500 scheduled to report their results for the summer through the week.

Blaring above them all is Election Day. Markets have veered sharply in recent weeks as investors deal with uncertainty about who will control Washington, and what that means for the chances of the U.S. government delivering more aid for the economy.

Many professional investors say they plan to hold steady through whatever volatility the election creates. That’s because history shows politics don’t have a very strong correlation with market returns over the longer term. But Wall Street is nevertheless girding for potentially big swings in the interim.

The feared scenario for investors is a contested election, where it could take weeks for a winner of the White House to emerge. Markets famously hate uncertainty, and many along Wall Street expect stocks to drop in such a scenario.

Which party gets control of the Senate may be just as important as the presidency. If Democrats can gain complete control of Washington, many investors expect them to deliver a big dose of support for the economy. That plus “more predictable trade policy” could offset the higher tax rates and tighter regulations likely to come out of a Democratic-controlled Washington, says the BlackRock Investment Institute.

The Russell 2000′s solid gains Monday may signal that traders are betting Joe Biden will be elected president and that he’ll push for a big-ticket economic stimulus package, which would help smaller companies, said Quincy Krosby, chief market strategist at Prudential Financial.

“The biggest question for the market, if Biden does win, is does he bring the Senate with him?” she said. “Because for many of his proposals he’s going to need cooperation from the Senate.”

Democrats and Republicans have been haggling about a stimulus renewal for months, since the last round of supplemental benefits for laid-off workers and other stimulus expired. But a deep partisan divide has so far stymied them.


*ASX 200 expected to rise.*

The Australian share market looks set push higher again on Tuesday following a rebound on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 17 points or 0.3% higher this morning.  The S&P 500 rose 40.28 to 3,310.24. The Dow Jones Industrial Average gained 423.45 points, or 1.6%, to 26,925.05. The Nasdaq composite picked up 46.02 points, or 0.4%, to 10,957.61. The index had been down 0.7%.










https://apnews.com/article/virus-ou...cial-markets-5e9b5c26f61133db75a4784dbd4f8d96

*Wall Street rallies ahead of a potentially turbulent week*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA 25 minutes ago

Stocks notched broad gains on Wall Street Monday as investors looked ahead to Election Day and the potential for a turbulent stretch for markets.

The S&P 500 climbed 1.2%, recouping some of its losses from a sharp sell-off last week, as more companies reported stronger profits for the summer than Wall Street feared and reports on manufacturing came in better than expected. Health care, industrial and financial companies drove much of the broad rally, which followed gains for European and Asian stocks following their own better-than-expected economic data.

Caution, though, was continuing to hang over markets as the pandemic raises worries that customers will stay away from businesses and pushes more European governments to bring back restrictions. Uncertainty about Tuesday’s U.S. elections is also weighing on markets, and Treasury yields were mixed.

“People are probably more than willing to hold off to see what happens tomorrow night,” said David Trainer, CEO of investment research firm New Constructs.

The S&P 500 rose 40.28 to 3,310.24. The Dow Jones Industrial Average gained 423.45 points, or 1.6%, to 26,925.05. The Nasdaq composite picked up 46.02 points, or 0.4%, to 10,957.61. The index had been down 0.7%.

Small company stocks fared better than the broader market. The Russell 2000 small-caps index rose 30.11 points, or 2%, to 1,568.59.

It’s an incredibly busy week for markets, with the Federal Reserve announcing its latest decision on interest rates Thursday, the U.S. Labor Department releasing its market-moving monthly jobs report on Friday and roughly 130 companies in the S&P 500 scheduled to report their results for the summer through the week.

Blaring above them all is Election Day. Markets have veered sharply in recent weeks as investors deal with uncertainty about who will control Washington, and what that means for the chances of the U.S. government delivering more aid for the economy.

Many professional investors say they plan to hold steady through whatever volatility the election creates. That’s because history shows politics don’t have a very strong correlation with market returns over the longer term. But Wall Street is nevertheless girding for potentially big swings in the interim.

The feared scenario for investors is a contested election, where it could take weeks for a winner of the White House to emerge. Markets famously hate uncertainty, and many along Wall Street expect stocks to drop in such a scenario.

Which party gets control of the Senate may be just as important as the presidency. If Democrats can gain complete control of Washington, many investors expect them to deliver a big dose of support for the economy. That plus “more predictable trade policy” could offset the higher tax rates and tighter regulations likely to come out of a Democratic-controlled Washington, says the BlackRock Investment Institute.

The Russell 2000′s solid gains Monday may signal that traders are betting Joe Biden will be elected president and that he’ll push for a big-ticket economic stimulus package, which would help smaller companies, said Quincy Krosby, chief market strategist at Prudential Financial.

“The biggest question for the market, if Biden does win, is does he bring the Senate with him?” she said. “Because for many of his proposals he’s going to need cooperation from the Senate.”

Democrats and Republicans have been haggling about a stimulus renewal for months, since the last round of supplemental benefits for laid-off workers and other stimulus expired. But a deep partisan divide has so far stymied them.

The U.S. economy has been showing a mixed performance recently. A Monday report on manufacturing from the Institute for Supply Management gave a reading of 59.3, where anything above 50 indicates growth. That topped economists’ expectations for 56. But Friday’s upcoming jobs report may show a fourth straight month of weakening job growth, according to economists’ projections.

Investors and economists alike say the economy needs another shot of stimulus, particularly when coronavirus counts are accelerating at troubling rates across Europe and much of the United States. So far, the toughest restrictions on daily life and businesses have not returned. But even if they don’t, the worry is that fear about the virus will keep customers away from businesses by itself.

Such worries helped drive the S&P 500 to a 5.6% loss last week. That was its worst since March, when worries about the first wave of the pandemic were sending stocks around the world into a free fall.

Corporate profits, meanwhile, are weaker than year-ago levels but continue to be better than Wall Street had feared.

Nielsen Holdings rose 3.8% and Clorox gained 4.2% after each of the companies reported better results than analysts expected. Companies in the S&P 500 are now on track to a decline of slightly less than 10% for the summer from a year earlier. That’s not as bad as the nearly 21% drop analysts were expecting at the start of October, according to FactSet.

European markets closed broadly higher after a survey showed industrial output in the region was strong in October. Asian markets also rose after a major indicator for China’s manufacturing sector rose.

The yield on the 10-year Treasury fell to 0.85% from 0.88% late Friday.


----------



## bigdog

*Stocks rally worldwide on Election Day; S&P 500 climbs 1.8%*

Stocks powered higher Tuesday as investors hope the end of a bruising U.S. presidential campaign may soon lift the heavy uncertainty that’s sent markets spinning recently.

The S&P 500 rose 58.92 points, or 1.8%, to 3,369.16 for its second straight healthy gain. The rally was widespread and global, with Treasury yields, oil prices and stocks around the world all strengthening.

The Dow Jones Industrial Average climbed 554.98, or 2.1%, to 27,480.03, and the Nasdaq composite added 202.96, or 1.9%, to 11,160.57.

More than anything, what investors hope for from the election is a clear winner to emerge, even if it takes some time for all the votes to be tallied. Whether that’s President Donald Trump or former Vice President Joe Biden is less important, because history shows stocks tend to rise regardless of which party controls the White House.

“The markets are neither red nor blue, and today they’re decidedly green,” said Rod von Lipsey, managing director at UBS Private Wealth Management.

What investors fear is the prospect of a contested election, one that drags on and injects even more uncertainty into markets. Under such a scenario, much of Wall Street expects a sharp drop in stocks. The future political makeup of the Senate is another unknown throwing uncertainty into the markets, along with the timing of a possible COVID-19 vaccine.

“There’s a sense that we might get some clarity on the outcome of the direction of one or two wild cards that have been moving the market,” von Lipsey said.

If Biden ends up winning, as polls suggest, the thought is that could open the door to a big support package for the economy, particularly if the Democrats also take control of the Senate. Some areas of the market that would benefit from a large stimulus effort and spending on infrastructure rose more than the rest of the market Tuesday, including stocks of smaller companies and industrial businesses.

If Trump were to win and the Senate stays under Republican control, it would likely lead to less stimulus than under a Democratic sweep, according to Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. A Biden win and Republican Senate would be least beneficial to stocks, meanwhile, because it would mean the lowest chance for stimulus.

Investors and economists have been clamoring for a renewal of stimulus since the expiration of the last round of supplemental benefits for laid-off workers and other support approved earlier by Congress.

But investors see cases for optimism in other electoral scenarios, too. If Trump were to win, that would likely mean a continuation of lower tax rates and lighter regulation on businesses, which would prop up the corporate profits that are the lifeblood of the stock market.

Ultimately, many professional investors say which party controls Washington matters much less to the economy and markets than what happens with the pandemic and whether a vaccine can arrive soon to help the economy heal.

The last two days of gains for Wall Street have helped the S&P 500 recover roughly half its 5.6% loss from last week, which was its worst since the market was plunging in March.

While the election is dominating investors’ attention, plenty of other market-moving events are looming this week. The Federal Reserve is meeting on interest-rate policy and will announce its decision on Thursday. Its earlier moves to slash interest rates to record lows and to step forcefully into bond markets to push prices higher have helped Wall Street soar since March.

*ASX 200 flat ahead of US election result.*

It looks set to be a potentially volatile day of trade for the Australian share market due to the U.S. election. The result of which should start to filter through during our trading day. For now, according to the latest SPI futures, the ASX 200 is expected to open the day flat.  The Dow Jones Industrial Average climbed 554.98, or 2.1%, to 27,480.03, and the Nasdaq composite added 202.96, or 1.9%, to 11,160.57.











https://apnews.com/article/stocks-rally-worldwide-election-day-2cc8445c88a7d2c9135507a8722bcf9e

*Stocks rally worldwide on Election Day; S&P 500 climbs 1.8%*

By STAN CHOE and DAMIAN J. TROISE 18 minutes ago

NEW YORK (AP) — Stocks powered higher Tuesday as investors hope the end of a bruising U.S. presidential campaign may soon lift the heavy uncertainty that’s sent markets spinning recently.

The S&P 500 rose 58.92 points, or 1.8%, to 3,369.16 for its second straight healthy gain. The rally was widespread and global, with Treasury yields, oil prices and stocks around the world all strengthening.

The Dow Jones Industrial Average climbed 554.98, or 2.1%, to 27,480.03, and the Nasdaq composite added 202.96, or 1.9%, to 11,160.57.

More than anything, what investors hope for from the election is a clear winner to emerge, even if it takes some time for all the votes to be tallied. Whether that’s President Donald Trump or former Vice President Joe Biden is less important, because history shows stocks tend to rise regardless of which party controls the White House.

“The markets are neither red nor blue, and today they’re decidedly green,” said Rod von Lipsey, managing director at UBS Private Wealth Management.

What investors fear is the prospect of a contested election, one that drags on and injects even more uncertainty into markets. Under such a scenario, much of Wall Street expects a sharp drop in stocks. The future political makeup of the Senate is another unknown throwing uncertainty into the markets, along with the timing of a possible COVID-19 vaccine.

“There’s a sense that we might get some clarity on the outcome of the direction of one or two wild cards that have been moving the market,” von Lipsey said.

If Biden ends up winning, as polls suggest, the thought is that could open the door to a big support package for the economy, particularly if the Democrats also take control of the Senate. Some areas of the market that would benefit from a large stimulus effort and spending on infrastructure rose more than the rest of the market Tuesday, including stocks of smaller companies and industrial businesses.

If Trump were to win and the Senate stays under Republican control, it would likely lead to less stimulus than under a Democratic sweep, according to Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. A Biden win and Republican Senate would be least beneficial to stocks, meanwhile, because it would mean the lowest chance for stimulus.

Investors and economists have been clamoring for a renewal of stimulus since the expiration of the last round of supplemental benefits for laid-off workers and other support approved earlier by Congress.

But investors see cases for optimism in other electoral scenarios, too. If Trump were to win, that would likely mean a continuation of lower tax rates and lighter regulation on businesses, which would prop up the corporate profits that are the lifeblood of the stock market.

Ultimately, many professional investors say which party controls Washington matters much less to the economy and markets than what happens with the pandemic and whether a vaccine can arrive soon to help the economy heal.

The last two days of gains for Wall Street have helped the S&P 500 recover roughly half its 5.6% loss from last week, which was its worst since the market was plunging in March.

While the election is dominating investors’ attention, plenty of other market-moving events are looming this week. The Federal Reserve is meeting on interest-rate policy and will announce its decision on Thursday. Its earlier moves to slash interest rates to record lows and to step forcefully into bond markets to push prices higher have helped Wall Street soar since March.

The Labor Department is also releasing its jobs report for October on Friday, where economists expect to see another slowdown in growth. Meanwhile, it’s another heavy week for corporate earnings reports as companies continue to report drops in profit for the summer that weren’t as bad as Wall Street feared.

Hanging above it all is the continuing coronavirus pandemic. Several European governments are bringing back restrictions on businesses in hopes of stemming worsening virus counts. In the United States, where infections are also rising at a troubling rate, the worry is that fear alone of the virus could depress sales for companies.

So far this earnings reporting season, companies are saying their profits fell during the summer, but not by as much as Wall Street feared.

Arista Networks jumped 15.4% for the biggest gain in the S&P 500 after the cloud-networking company reported a 19% drop in net income that nevertheless topped analysts’ forecasts.

Stock indexes across Europe and Asia rose 2% or more, while the yield on the 10-year Treasury climbed to 0.88% from 0.84% late Monday.

A gauge of fear in the U.S. stock market, which measures expected volatility for the S&P 500, fell 6.4% and continued its decline following last week’s jump to its highest level since June.


----------



## bigdog

Stocks rallied on Wall Street Wednesday, sending the S&P 500 index up 2.2%, as investors embraced the upside of more gridlock in Washington. Technology stocks, which have proved impervious to the damage inflicted on other industries by the coronavirus pandemic, led the way higher. The tech-heavy Nasdaq index rose 3.9%. With Republicans edging closer to retaining control of the Senate, prospects dimmed for the tax increases and tighter regulations on businesses that investors expected if Democrats scored an electoral sweep. However, a big stimulus effort for the economy that some on Wall Street say is needed now also seems unlikely.

THIS IS A BREAKING NEWS UPDATE: AP’s earlier story appears below

Technology and health care companies drove stocks sharply higher Wednesday as Wall Street embraced the upside of more gridlock in Washington.

The S&P 500 was up 2.2% and on pace for its best day in more than five months, as of 3:26 p.m. Eastern time. The Dow Jones Industrial Average was up 457 points, or 1.7%, at 27,935, and the Nasdaq composite jumped 3.8%.

The fate of the U.S. presidency remains undecided as neither President Donald Trump or Democratic challenger Joe Biden has secured the 270 Electoral College votes needed to win. But after a tumultuous overnight session in global markets where Trump prematurely declared victory, Wall Street acted as if the occupant of the White House might be secondary.

Analysts said the gains came as markets focused on the benefits of the country’s political control remaining split between Democrats and Republicans. With Republicans edging closer to retaining control of the Senate, prospects dimmed for the tax increases and tighter regulations on businesses that investors expected if Democrats scored an electoral sweep, although a big stimulus effort for the economy that some on Wall Street say is needed now seems unlikely as well.

“The first information that people are digesting is that a split government is OK, and we can deal with this,” said Melda Mergen, deputy global head of equities at Columbia Thread needle. “No big changes are expected anytime soon on the policy side.”

She cautioned, though, that the initial moves for the market may not last. “It’s a very quick reaction without knowing the final results," she said. “It’s emotional rather than rational.”

Much of Wednesday's strength for Wall Street was due to big gains for technology stocks. Investors have increasingly seen these stocks as some of the safer bets in the market, able to grow their profits even in a pandemic as more of daily life shifts online.

They don’t need a big stimulus effort for the economy as much as other companies, and the likelihood of Washington approving such a package dropped with the chances of a Democratic sweep. That led to the much better performance for the tech-heavy Nasdaq over other indexes. Microsoft, Amazon, Facebook and Google's parent company all rose at least 5%

Other areas of the stock market, where profits are more dependent on the strength of the economy, lagged behind. Financial stocks in the S&P 500 fell 0.7%. Companies that make construction materials and could have benefited from a big infrastructure plan under a Democratic sweep were falling.

Some of the market’s sharpest moves overnight were in yields for U.S. government bonds, which had earlier risen on growing expectations for big economic stimulus.


*ASX 200 expected to rise.*

The Australian share market looks set to push higher after investors responded positively to the U.S. election vote counting. Although the actual winner still remains unclear, the Republicans appear likely to win the Senate. According to the latest SPI futures, the ASX 200 is poised to open the day 55 points or 0.9% higher.   Stocks rallied on Wall Street Wednesday, sending the S&P 500 index up 2.2%
and the Dow Jones Industrial Average was up 367 points, or 1.3%,










https://www.timesunion.com/news/article/US-futures-world-markets-rise-as-investors-eye-15699855.php

*Tech leads Wall Street rally, shrugging off election limbo*

STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Nov. 4, 2020Updated: Nov. 4, 2020 4:48 p.m.

Stocks rallied on Wall Street Wednesday, sending the S&P 500 index up 2.2%, as investors embraced the upside of more gridlock in Washington. Technology stocks, which have proved impervious to the damage inflicted on other industries by the coronavirus pandemic, led the way higher. The tech-heavy Nasdaq index rose 3.9%. With Republicans edging closer to retaining control of the Senate, prospects dimmed for the tax increases and tighter regulations on businesses that investors expected if Democrats scored an electoral sweep. However, a big stimulus effort for the economy that some on Wall Street say is needed now also seems unlikely.

THIS IS A BREAKING NEWS UPDATE: AP’s earlier story appears below.

Technology and health care companies drove stocks sharply higher Wednesday as Wall Street embraced the upside of more gridlock in Washington.

The S&P 500 was up 2.4% and on pace for its best day in more than five months, as of 3:26 p.m. Eastern time. The Dow Jones Industrial Average was up 457 points, or 1.7%, at 27,935, and the Nasdaq composite jumped 3.8%.

The fate of the U.S. presidency remains undecided as neither President Donald Trump or Democratic challenger Joe Biden has secured the 270 Electoral College votes needed to win. But after a tumultuous overnight session in global markets where Trump prematurely declared victory, Wall Street acted as if the occupant of the White House might be secondary.

Analysts said the gains came as markets focused on the benefits of the country’s political control remaining split between Democrats and Republicans. With Republicans edging closer to retaining control of the Senate, prospects dimmed for the tax increases and tighter regulations on businesses that investors expected if Democrats scored an electoral sweep, although a big stimulus effort for the economy that some on Wall Street say is needed now seems unlikely as well.

“The first information that people are digesting is that a split government is OK, and we can deal with this,” said Melda Mergen, deputy global head of equities at Columbia Thread needle. “No big changes are expected anytime soon on the policy side.”

She cautioned, though, that the initial moves for the market may not last. “It’s a very quick reaction without knowing the final results," she said. “It’s emotional rather than rational.”

Much of Wednesday's strength for Wall Street was due to big gains for technology stocks. Investors have increasingly seen these stocks as some of the safer bets in the market, able to grow their profits even in a pandemic as more of daily life shifts online.

They don’t need a big stimulus effort for the economy as much as other companies, and the likelihood of Washington approving such a package dropped with the chances of a Democratic sweep. That led to the much better performance for the tech-heavy Nasdaq over other indexes. Microsoft, Amazon, Facebook and Google's parent company all rose at least 5%

Other areas of the stock market, where profits are more dependent on the strength of the economy, lagged behind. Financial stocks in the S&P 500 fell 0.7%. Companies that make construction materials and could have benefited from a big infrastructure plan under a Democratic sweep were falling.

Some of the market’s sharpest moves overnight were in yields for U.S. government bonds, which had earlier risen on growing expectations for big economic stimulus.

The 10-year Treasury yield swung from 0.88% late Tuesday up to 0.94% as polls were closing. It then sank as low as 0.75% after Trump made premature claims of victories in several key states, Republicans held onto Senate seats and a couple economic reports came in weaker than expected. It sat at 0.77% in afternoon trading.

All the swings are a bit reminiscent of four years earlier, when Trump surprised the market by winning the White House. Markets initially tumbled after polls and the market’s expectations proved to be so wrong in 2016, but they quickly turned around on expectations that Trump’s pro-business stance would be good for corporate profits.

The difference this time is that the uncertainty seems set to linger. It may take days for a winner of the White House to emerge, and professional investors say they’re bracing for sharp market swings in the meantime. Trump said early Wednesday that he’d take the election to the Supreme Court, though it’s unclear exactly what he means by that as states continue to tally all their votes.

A drawn-out court battle “just adds more and more uncertainty, and the last thing the market needs is that,” said Quincy Krosby, chief market strategist at Prudential Financial.

In the end, though, many fund managers suggest investors hold steady through the tumult in large part because one person can’t single handedly move the economy and stocks tend to rise regardless of which party controls the White House. What happens with the coronavirus pandemic will have a much greater effect on markets than this election’s results, many fund managers say.

“It’s really about the solution to the health crisis and how do we bridge between now and that eventual period of time,” said Bill Northey, senior investment director at U.S. Bank Wealth Management.

Uber and Lyft both soared more than 11% after the ride-hailing companies won a vote in California allowing them to continue classifying their drivers as contractors instead of employees and preserve their business models.

In Europe, Germany’s DAX recovered from early losses to gain 1.9%. The CAC 40 in Paris rose 2.4%, and the FTSE 100 in London climbed 1.7%.

Besides the election's impact on Trump's enthusiasm for tariffs, European investors are also watching what it will do to the U.S. dollar's value. By making additional stimulus less likely, a divided U.S. government could force the Federal Reserve to do even more on its own to support the economy, which could send the dollar lower against the euro and other currencies.

The Fed will announce its latest decision on interest-rate policy on Thursday. Its moves earlier this year to slash interest rates to record lows and prop up bond markets have helped Wall Street soar since March.

In Asia, Tokyo's Nikkei 225 rose 1.7%, South Korea's Kospi rose 0.6%, Hong Kong's Hang Seng declined 0.2% and stocks in Shanghai added 0.2%.


----------



## bigdog

Wall Street's post-election wave swept stocks solidly higher again Thursday, pushing the S&P 500 toward its biggest weekly gain since April.

Markets are banking on Tuesday's election leading to split control of Congress, which could mean low tax rates, lighter regulation on businesses and other policies that investors like remain the status quo. The election still hasn’t made clear who will run the White House next year, though Joe Biden is pushing closer toward the needed mark.

The S&P 500 rose 1.9%, its fourth straight gain of more than 1%, and is now up 7.4% for the week. That would be its best week since the market was exploding out of the crater created in February and March by panic about the coronavirus pandemic.

“The presidential election is not settled, the Senate is not settled, but we’re getting a post-election rally,” said Ross Mayfield, investment strategist at Baird. “The odds at this point seem fairly set in stone, so investors are feeling pretty comfortable making the bets that they’re making.”

The S&P 500 rose 67.01 points to 3,510.45. The Dow Jones Industrial Average gained 542.52 points, or 1.9%, to 28,390.18. The Nasdaq composite climbed 300.15 points, or 2.6%, to 11,890.93. Small company stocks also had a strong showing. The Russell 2000 small-cap index picked up 44.96 points, or 2.8%, to 1,660.05.

The indexes and U.S. bond yields held steady after the Federal Reserve issued its latest monetary policy update. The central bank said that it will leave its key interest rate at a record low near zero. It also reaffirmed its readiness to do more if needed to support the economy under threat from a worsening coronavirus pandemic.

Technology stocks helped power the rally, as they have through the pandemic and for years before that. Rising expectations that Republicans can hold onto the Senate are easing investors’ worries that a Democratic-controlled Washington would beef up antitrust laws and go after Big Tech more aggressively.

Apple climbed 3.5%, Microsoft rose 3.2%, and Amazon added 2.5%. Facebook gained 2.5% and Google’s parent company rose 1%. They’re also the five biggest stocks in the S&P 500 by market value.

Shares in cannabis companies marched higher after voters in several states cleared the way for sales of legal marijuana for adult or medical use. Tilray jumped 30.3%, though the stock is still down 54.4% so far this year.

Broadly, markets are seeing split control of Congress as a case of what Mizuho Bank calls “Goldilocks Gridlock.”

Investors see cause for optimism if either Biden or President Donald Trump ultimately wins the presidency, and what they want most of all is just for a clear winner to emerge. Stocks “fear uncertainty rather than the actual outcome,” strategists at Barclays wrote in a report.

But the expectation that Biden has a chance of winning has also raised hopes that U.S. foreign policies might be “more clear,” said Jackson Wong, asset management director of Amber Hill Capital. He added, “investors are cheering for that. That’s why the markets are performing well.”

Stocks also climbed across European and Asian markets Thursday.

Wall Street's rally was widespread, with about 82% of stocks in the S&P 500 closing higher. Qualcomm jumped 12.7% for one of the biggest gains in the index after it reported stronger revenue and profit for the latest quarter than analysts expected.

That's been the strongest trend through this earnings season, which is close to wrapping up. S&P 500 companies are on pace to report a drop in profits of roughly 8% from year-ago levels. That's much milder than the nearly 21% decline Wall Street was forecasting at the start of last month.

Still, many analysts warn volatility may lie ahead. Big swings could return as the threat of a contested, drawn-out election still looms.

Trump’s campaign has filed legal challenges in some key swing states, though it’s unclear whether they can shift the race in his favor. A long court battle without a clear winner of the presidency could raise uncertainty and drag down stocks, analysts say.

But concerns about any big changes in tax policy during the next administration have mostly abated now that control of Congress looks as if it will remain split, said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors.

*ASX 200 expected to rise.*

It looks set to be another positive day for the Australian share market. According to the latest SPI futures, the ASX 200 is poised to open the day 38 points or 0.6% higher this morning.  The S&P 500 rose 67.01 points to 3,510.45. The Dow Jones Industrial Average gained 542.52 points, or 1.9%, to 28,390.18. The Nasdaq composite climbed 300.15 points, or 2.6%, to 11,890.93.










https://www.usnews.com/news/busines...l-st-rally-as-markets-shrug-at-election-limbo

*Wall Street Rallies Again as Election-Week Gains Continue*
Stocks rallied again on Wall Street as a post-election wave of buying continues, keeping the S&P 500 on track for its biggest weekly gain since April.
By Associated Press, Wire Service Content Nov. 5, 2020, at 4:39 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street's post-election wave swept stocks solidly higher again Thursday, pushing the S&P 500 toward its biggest weekly gain since April.

Markets are banking on Tuesday's election leading to split control of Congress, which could mean low tax rates, lighter regulation on businesses and other policies that investors like remain the status quo. The election still hasn’t made clear who will run the White House next year, though Joe Biden is pushing closer toward the needed mark.

The S&P 500 rose 1.9%, its fourth straight gain of more than 1%, and is now up 7.4% for the week. That would be its best week since the market was exploding out of the crater created in February and March by panic about the coronavirus pandemic.

“The presidential election is not settled, the Senate is not settled, but we’re getting a post-election rally,” said Ross Mayfield, investment strategist at Baird. “The odds at this point seem fairly set in stone, so investors are feeling pretty comfortable making the bets that they’re making.”

The S&P 500 rose 67.01 points to 3,510.45. The Dow Jones Industrial Average gained 542.52 points, or 1.9%, to 28,390.18. The Nasdaq composite climbed 300.15 points, or 2.6%, to 11,890.93. Small company stocks also had a strong showing. The Russell 2000 small-cap index picked up 44.96 points, or 2.8%, to 1,660.05.

The indexes and U.S. bond yields held steady after the Federal Reserve issued its latest monetary policy update. The central bank said that it will leave its key interest rate at a record low near zero. It also reaffirmed its readiness to do more if needed to support the economy under threat from a worsening coronavirus pandemic.

Technology stocks helped power the rally, as they have through the pandemic and for years before that. Rising expectations that Republicans can hold onto the Senate are easing investors’ worries that a Democratic-controlled Washington would beef up antitrust laws and go after Big Tech more aggressively.

Apple climbed 3.5%, Microsoft rose 3.2%, and Amazon added 2.5%. Facebook gained 2.5% and Google’s parent company rose 1%. They’re also the five biggest stocks in the S&P 500 by market value.

Shares in cannabis companies marched higher after voters in several states cleared the way for sales of legal marijuana for adult or medical use. Tilray jumped 30.3%, though the stock is still down 54.4% so far this year.

Broadly, markets are seeing split control of Congress as a case of what Mizuho Bank calls “Goldilocks Gridlock.”

Investors see cause for optimism if either Biden or President Donald Trump ultimately wins the presidency, and what they want most of all is just for a clear winner to emerge. Stocks “fear uncertainty rather than the actual outcome,” strategists at Barclays wrote in a report.

But the expectation that Biden has a chance of winning has also raised hopes that U.S. foreign policies might be “more clear,” said Jackson Wong, asset management director of Amber Hill Capital. He added, “investors are cheering for that. That’s why the markets are performing well.”

Stocks also climbed across European and Asian markets Thursday.

Wall Street's rally was widespread, with about 82% of stocks in the S&P 500 closing higher. Qualcomm jumped 12.7% for one of the biggest gains in the index after it reported stronger revenue and profit for the latest quarter than analysts expected.

That's been the strongest trend through this earnings season, which is close to wrapping up. S&P 500 companies are on pace to report a drop in profits of roughly 8% from year-ago levels. That's much milder than the nearly 21% decline Wall Street was forecasting at the start of last month.

Still, many analysts warn volatility may lie ahead. Big swings could return as the threat of a contested, drawn-out election still looms.

Trump’s campaign has filed legal challenges in some key swing states, though it’s unclear whether they can shift the race in his favor. A long court battle without a clear winner of the presidency could raise uncertainty and drag down stocks, analysts say.

But concerns about any big changes in tax policy during the next administration have mostly abated now that control of Congress looks as if it will remain split, said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors.

“History tends to tells us that investors like gridlock because there’s really not a big chance of legislative surprises,” she said

Split control of Washington also carries potential downsides. Gridlock may lessen the chances of the U.S. government coming together on a deal to deliver a big shot of stimulus for the economy, for example.

The yield on the 10-year Treasury held steady at 0.77%. It had been above 0.90% earlier this week, when markets were still thinking a Democratic sweep was possible that could lead to a big stimulus package for the economy.

The pandemic continues to weigh on economies around the world, with counts rising at troubling rates across much of Europe and the United States. Several European governments have brought back restrictions on businesses in hopes of slowing the spread.


----------



## bigdog

Wall Street took a breather Friday after a blistering rally that gave the market its biggest weekly gain since April and indicated investors see plenty of benefits from more gridlock in Washington.

The S&P 500 inched down 1.01 point, or less than 0.1%, to 3,509.44, leaving its blockbuster gain for the week at 7.3%. The wild week was dominated by an election that, as of Friday afternoon, had yet to definitively show who the U.S. president would be next year or which party would control the next Congress.

While stocks cooled, the bond market got a shot of optimism about the economy from a report showing U.S. employers hired more workers last month than economists expected. Treasury yields climbed, a sign of improved confidence.

This week’s gains for stocks more than made up the sharp losses from the prior week, when all the uncertainty around the election helped send markets tumbling.

Even though plenty of uncertainties remain, stocks surged after early election results indicated control of Congress may remain split between Democrats and Republicans. That raised investors’ expectations that business-friendly policies may stick around in Washington, regardless of who wins the presidency. The gains were so forceful, though, that analysts cautioned more volatility may be ahead given all the risks that remain for the market.

The Dow Jones Industrial Average slipped 66.78 points, or 0.2%, to 28,323.40. The Nasdaq composite edged up by 4.30 points, or less than 0.1%, to 11,895.23. For both the Dow and S&P 500, Friday’s tiptoe lower was their first loss of the week.

The yield on the 10-year Treasury climbed to 0.81% from 0.78% late Thursday after the U.S. government said employers added 638,000 jobs last month. The stronger-than-expected tally suggests the economic recovery may still be intact, though it also marked another slowdown in monthly job growth.

The rally helped the 10-year Treasury yield claw back some of its recent slide. It had been above 0.90% earlier this week when expectations were rising that a Democratic sweep of Tuesday’s elections could open the door for a big stimulus effort for the economy.

Electoral results so far, though, have sharply cut the prospects for such a “blue wave.” Democrat Joe Biden looks to be closing in on the presidency, with votes still being counted in several key states, but Republicans held onto several seats in the Senate that were considered vulnerable.

The upside of gridlock for stock investors is that it may prevent Democrats from approving some of the measures they feared, such as higher tax rates and tougher antitrust policies for big technology companies. Stocks around the world have surged on what analysts are calling a “Goldilocks” scenario.

But split control of Washington has downsides too, and analysts said those and other risks for the market could upend what's been a jubilant week.

“Investors are seemingly turning a blind eye to these risks, which could keep market volatility elevated near-term,” said Lindsey Bell, chief investment strategist at Ally Invest.

One downside of a divided Washington is that any support package for the economy from Congress would likely be less generous than if Democrats had swept the election.

Investors and economists say the economy needs such stimulus, particularly when the country’s new coronavirus cases are setting records once again. Europe is also facing a troubling rise in infections, and governments there have already brought back restrictions on businesses in hopes of slowing the spread.

Even if the strictest lockdowns don’t return in the United States, the worry is that the worsening pandemic will scare consumers by itself and erase profits for businesses.

“We're still kind of beholden to the pandemic,” said Ross Mayfield, investment strategist at Baird. “The pace of a vaccine and the path of the virus, that’s still what controls our fate.”

Another risk for the market is that of a drawn-out, disputed election for the presidency. Markets see cause for optimism if either Biden or President Donald Trump wins, and what investors want more than anything is for a clear winner to emerge.











https://www.usnews.com/news/busines...stocks-mixed-after-wall-street-election-gains

*Stocks Close a Blistering Week, Even as Uncertainty Lingers*
Wall Street took a breather Friday after a blistering rally that gave the market its biggest weekly gain since April and indicated investors see plenty of benefits from more gridlock in Washington.
By Associated Press, Wire Service Content Nov. 6, 2020, at 4:34 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — Wall Street took a breather Friday after a blistering rally that gave the market its biggest weekly gain since April and indicated investors see plenty of benefits from more gridlock in Washington.

The S&P 500 inched down 1.01 point, or less than 0.1%, to 3,509.44, leaving its blockbuster gain for the week at 7.3%. The wild week was dominated by an election that, as of Friday afternoon, had yet to definitively show who the U.S. president would be next year or which party would control the next Congress.

While stocks cooled, the bond market got a shot of optimism about the economy from a report showing U.S. employers hired more workers last month than economists expected. Treasury yields climbed, a sign of improved confidence.

This week’s gains for stocks more than made up the sharp losses from the prior week, when all the uncertainty around the election helped send markets tumbling.

Even though plenty of uncertainties remain, stocks surged after early election results indicated control of Congress may remain split between Democrats and Republicans. That raised investors’ expectations that business-friendly policies may stick around in Washington, regardless of who wins the presidency. The gains were so forceful, though, that analysts cautioned more volatility may be ahead given all the risks that remain for the market.

The Dow Jones Industrial Average slipped 66.78 points, or 0.2%, to 28,323.40. The Nasdaq composite edged up by 4.30 points, or less than 0.1%, to 11,895.23. For both the Dow and S&P 500, Friday’s tiptoe lower was their first loss of the week.

The yield on the 10-year Treasury climbed to 0.81% from 0.78% late Thursday after the U.S. government said employers added 638,000 jobs last month. The stronger-than-expected tally suggests the economic recovery may still be intact, though it also marked another slowdown in monthly job growth.

The rally helped the 10-year Treasury yield claw back some of its recent slide. It had been above 0.90% earlier this week when expectations were rising that a Democratic sweep of Tuesday’s elections could open the door for a big stimulus effort for the economy.

Electoral results so far, though, have sharply cut the prospects for such a “blue wave.” Democrat Joe Biden looks to be closing in on the presidency, with votes still being counted in several key states, but Republicans held onto several seats in the Senate that were considered vulnerable.

The upside of gridlock for stock investors is that it may prevent Democrats from approving some of the measures they feared, such as higher tax rates and tougher antitrust policies for big technology companies. Stocks around the world have surged on what analysts are calling a “Goldilocks” scenario.

But split control of Washington has downsides too, and analysts said those and other risks for the market could upend what's been a jubilant week.

“Investors are seemingly turning a blind eye to these risks, which could keep market volatility elevated near-term,” said Lindsey Bell, chief investment strategist at Ally Invest.

One downside of a divided Washington is that any support package for the economy from Congress would likely be less generous than if Democrats had swept the election.

Investors and economists say the economy needs such stimulus, particularly when the country’s new coronavirus cases are setting records once again. Europe is also facing a troubling rise in infections, and governments there have already brought back restrictions on businesses in hopes of slowing the spread.

Even if the strictest lockdowns don’t return in the United States, the worry is that the worsening pandemic will scare consumers by itself and erase profits for businesses.

“We're still kind of beholden to the pandemic,” said Ross Mayfield, investment strategist at Baird. “The pace of a vaccine and the path of the virus, that’s still what controls our fate.”

Another risk for the market is that of a drawn-out, disputed election for the presidency. Markets see cause for optimism if either Biden or President Donald Trump wins, and what investors want more than anything is for a clear winner to emerge.

Biden appears to be closing in on the needed electoral votes to win, but Trump has launched a litany of claims, without proof, about how Democrats were trying to unfairly deprive him of a second term.

His campaign has already filed legal challenges in several states. If the election drags on through court challenges, the resulting rise in uncertainty could send stocks spinning, analysts say.

“Financial markets probably will look past the lawsuits, if Biden can win without Pennsylvania or Georgia,” said Paul Christopher, head of global market strategy at Wells Fargo Investment Institute.

Control of the Senate by Republicans is also still not a certainty, even if indications lean that way. It could depend on results from a January runoff election in Georgia, and a surprise there could upset markets.

Among Wall Street's biggest losers Friday was Electronic Arts, whose shares slumped 7.1%. It reported stronger results for the latest quarter than analysts expected, but it fell short of forecasts for revenue.

On the winning side was CVS Health, which rose 5.8% after it named veteran insurance executive Karen Lynch its next CEO and reported better results for the latest quarter than expected.

European markets closed mostly lower, and Asian markets ended mostly higher.


----------



## bigdog

*ASX 200 expected to rise.*

The Australian share market looks set to start the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 15 points or 0.25% higher this morning. This is despite a mixed end to the week on Wall Street, which saw the Dow Jones fall 0.25%, the S&P 500 trade flat, and the Nasdaq edge ever so slightly higher. Despite the soft finish, the S&P 500 had its best week since April.


----------



## bigdog

Brimming hopes that people will again return to office buildings, shopping centers and normal life sent markets rallying worldwide on Monday, following encouraging data about a potential coronavirus vaccine.

The S&P 500 rose 41.06, or 1.2%, to 3,550.50 after Pfizer said an early peek at its vaccine data suggests the shots may be 90% effective at preventing COVID-19, though that doesn’t mean its release is imminent. The index at the heart of many 401(k) accounts had been up as much as 3.9% earlier in the day, though it pared its gain in the last hour of trading amid drops for the Big Tech stocks that dominate the market.

Markets worldwide also got a boost from a resolution to the long, market-bruising battle for the White House. Democrat Joe Biden over the weekend clinched the last of the electoral votes needed to become the next president. Investors say they just wanted a clear winner to emerge, instead of rooting for one of the two, but a Biden administration constrained by a Congress under split control will likely offer a balance of more predictable policies.

Treasury yields and oil prices burst higher as the vaccine news allowed investors to feel confident about a stronger economic recovery on the way. The yield on the 10-year Treasury shot up from 0.81% before the announcement to 0.93%, a big move for the bond market. The key rate touched its highest level since March earlier in the morning, according to Tradeweb. U.S. oil jumped 8.5%.

Stocks of companies that most need the economy and the world to return to normal for their profits to heal led the way. An 11.6% surge for Chevron and 11.9% jump for The Walt Disney Co. amid hopes that people will start driving and flying to theme parks again helped the Dow Jones Industrial Average climb 834.57 points, or 2.9%, to 29,157.97.

Cruise operators and owners of office buildings and shopping centers were among the market’s biggest winners on expectations people will feel comfortable again riding elevators to a desk or shopping in enclosed stores.

Carnival surged 39.3%, though it’s still down by more than half for 2020 so far. It led a resurgence for what are called “value stocks,” ones whose prices look cheap and had gotten left behind by the rest of the market through the pandemic.

“People are buying those because they see a light at the end of the tunnel,” said Todd Morgan, chairman at Bel Air Investment Advisors.

The Big Tech companies that earlier drove the market higher in the pandemic, in large part because they didn’t need a “normal” economy to succeed, lagged behind. Apple fell 2%, for example, and Microsoft lost 2.4%.

Their losses accelerated at the end of trading, which helped drag down the S&P 500’s gains. They also sent the Nasdaq composite to a loss of 181.45 points, or 1.5%, to 11,713.78.

Companies whose fortunes soared directly because the pandemic kept everyone hunkered at home fell sharply.

Zoom Video Communications, whose online meetings allow millions of remote students and workers to communicate, sank 17.4%. Grubhub, which benefited from people ordering in for dinner, dropped 10.9%. Etsy, whose online marketplace rode a wave of popularity for homemade masks, lost 17.1%.

If a vaccine for COVID-19 does indeed pan out, analysts say it’s a “game changer” and just what the market had been waiting for. It underscores again how the coronavirus and its effect on the economy are the dominant concerns for investors, much more than who wins what in Washington.

The 90% effectiveness rate for Pfizer’s potential vaccine is what struck Ajay Rajadhyaksha, head of macro research at Barclays.

“If that proves to be correct, it is a significant positive surprise and increases the odds of a quicker return to normalcy,” he said.

Building on last week’s gains, the S&P 500 is up 8.6% in November. Still, analysts caution that several risks remain that could trip up the market’s big recent gains.

In Washington, markets are banking on control of Congress remaining split between Democrats and Republicans, which can keep low tax rates and other pro-business policies the status quo in Washington, but that hinges on the result of run-off elections in Georgia in January.

Potential gridlock also makes any potential rescue package for the economy from Congress likely to be smaller than if Democrats had swept control of all of Washington. President Donald Trump, meanwhile, has refused to concede the election.

*ASX 200 poised to surge higher.*

It looks set to be a great day of trade for the Australian share market amid positive vaccine news in the United States. According to the latest SPI futures, the ASX 200 is expected to open the day a massive 179 points or 2.8% higher this morning.  Wall Street the Dow Jones is up 2.95%, the S&P 500 has climbed 1.17%, and the Nasdaq is down 1.53%.










https://www.usnews.com/news/busines...s-futures-surge-on-relief-us-election-decided

*Stocks Rally Worldwide With Hopes for a Return to “Normal”*
Brimming hopes that people will again return to office buildings, shopping centers and normal life sent markets rallying worldwide on Monday, following encouraging data about a potential coronavirus vaccine.
By Associated Press, Wire Service Content Nov. 9, 2020, at 4:45 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — Brimming hopes that people will again return to office buildings, shopping centers and normal life sent markets rallying worldwide on Monday, following encouraging data about a potential coronavirus vaccine.

The S&P 500 rose 41.06, or 1.2%, to 3,550.50 after Pfizer said an early peek at its vaccine data suggests the shots may be 90% effective at preventing COVID-19, though that doesn’t mean its release is imminent. The index at the heart of many 401(k) accounts had been up as much as 3.9% earlier in the day, though it pared its gain in the last hour of trading amid drops for the Big Tech stocks that dominate the market.

Markets worldwide also got a boost from a resolution to the long, market-bruising battle for the White House. Democrat Joe Biden over the weekend clinched the last of the electoral votes needed to become the next president. Investors say they just wanted a clear winner to emerge, instead of rooting for one of the two, but a Biden administration constrained by a Congress under split control will likely offer a balance of more predictable policies.

Treasury yields and oil prices burst higher as the vaccine news allowed investors to feel confident about a stronger economic recovery on the way. The yield on the 10-year Treasury shot up from 0.81% before the announcement to 0.93%, a big move for the bond market. The key rate touched its highest level since March earlier in the morning, according to Tradeweb. U.S. oil jumped 8.5%.

Stocks of companies that most need the economy and the world to return to normal for their profits to heal led the way. An 11.6% surge for Chevron and 11.9% jump for The Walt Disney Co. amid hopes that people will start driving and flying to theme parks again helped the Dow Jones Industrial Average climb 834.57 points, or 2.9%, to 29,157.97.

Cruise operators and owners of office buildings and shopping centers were among the market’s biggest winners on expectations people will feel comfortable again riding elevators to a desk or shopping in enclosed stores.

Carnival surged 39.3%, though it’s still down by more than half for 2020 so far. It led a resurgence for what are called “value stocks,” ones whose prices look cheap and had gotten left behind by the rest of the market through the pandemic.

“People are buying those because they see a light at the end of the tunnel,” said Todd Morgan, chairman at Bel Air Investment Advisors.

The Big Tech companies that earlier drove the market higher in the pandemic, in large part because they didn’t need a “normal” economy to succeed, lagged behind. Apple fell 2%, for example, and Microsoft lost 2.4%.

Their losses accelerated at the end of trading, which helped drag down the S&P 500’s gains. They also sent the Nasdaq composite to a loss of 181.45 points, or 1.5%, to 11,713.78.

Companies whose fortunes soared directly because the pandemic kept everyone hunkered at home fell sharply.

Zoom Video Communications, whose online meetings allow millions of remote students and workers to communicate, sank 17.4%. Grubhub, which benefited from people ordering in for dinner, dropped 10.9%. Etsy, whose online marketplace rode a wave of popularity for homemade masks, lost 17.1%.

If a vaccine for COVID-19 does indeed pan out, analysts say it’s a “game changer” and just what the market had been waiting for. It underscores again how the coronavirus and its effect on the economy are the dominant concerns for investors, much more than who wins what in Washington.

The 90% effectiveness rate for Pfizer’s potential vaccine is what struck Ajay Rajadhyaksha, head of macro research at Barclays.

“If that proves to be correct, it is a significant positive surprise and increases the odds of a quicker return to normalcy,” he said.

Building on last week’s gains, the S&P 500 is up 8.6% in November. Still, analysts caution that several risks remain that could trip up the market’s big recent gains.

Coronavirus counts continue to rise at troubling rates across much of Europe and the United States, so much that several European governments have brought back restrictions on businesses. In the U.S., confirmed coronavirus cases topped 10 million on Monday, the highest in the world.

In Washington, markets are banking on control of Congress remaining split between Democrats and Republicans, which can keep low tax rates and other pro-business policies the status quo in Washington, but that hinges on the result of run-off elections in Georgia in January.

Potential gridlock also makes any potential rescue package for the economy from Congress likely to be smaller than if Democrats had swept control of all of Washington. President Donald Trump, meanwhile, has refused to concede the election.

Late in the trading day, Senate Majority Leader Mitch McConnell said Trump is “100% within his rights” to question election results and consider legal options.

For now, though, euphoria about a possible return to normal is the dominant force across markets, particularly as it layers on top of the tremendous aid the Federal Reserve has already put in place for the economy.

Pfizer jumped 7.7% as its announcement indicates the company and its German partner, BioNTech, are on track to file an emergency use application for their COVID-19 vaccine with U.S. regulators later this month.

In markets around the world, stocks strengthened amid expectations that a Biden-led White House could tamp down trade tensions that had built under Trump’s administration. Stock markets across Europe jumped more than 4%. In Asia, many markets rose more than 1%.


----------



## MovingAverage

Don't often see the DJI gap up like this...


----------



## bigdog

Stocks downshifted on Tuesday, a day after their powerful worldwide rally, but optimism remained high that the global economy may still be headed for a return to normal.

It was the second straight day that rising hopes for a COVID-19 vaccine pushed investors to reorder which stocks they see winning and losing, and the continuing revamp left the majority of U.S. stocks higher but indexes mixed. Treasury yields and oil, meanwhile, held onto their big gains from a day earlier or added some more amid strengthened confidence in the economy.

The S&P 500 dipped 4.97 points, or 0.1%, to 3,545.53, after erasing most of an early loss. The relatively small movement, though, belied a lot of churning underneath. Nearly two out of three stocks in the index climbed, while losses for some of the largest and most influential technology stocks offset them.

The Dow Jones Industrial Average gained 262.95 points, or 0.9%, to 29,420.92, and the Nasdaq composite dropped 159.93, or 1.4%, to 11,553.86.

The flashpoint for all the moves was Monday’s announcement from Pfizer that a potential COVID-19 vaccine it’s developing with German partner BioNTech may be 90% effective, based on early but incomplete test results.

“This was such an environment of exuberance, which makes sense given some pretty compelling statistics” about immunity response for the vaccine candidate, said Kristina Hooper, chief global market strategist for Invesco. “But there are still a number of steps between now and distribution.”

Stocks of smaller U.S. companies, which tend to move more with expectations for the economy than their bigger counterparts, rallied again. The Russell 2000 index of small-cap stocks gained 31.97, or 1.9%, to 1,737.01 and finally climbed back above where it was in January. It's just 0.2% below its record high, which was set in 2018.

Several areas of the market that got beaten down through the pandemic and whose low prices make them look like potentially better values led the way. Energy stocks in the S&P 500 rose 2.5% for the best gain among the 11 sectors that make up the index, for example, though they're still down nearly 44% for 2020.

“We're seeing a continuation of this value trade that really took off in earnest yesterday,” said Brian Price, head of investment management for Commonwealth Financial Network. “We’re seeing follow through today, which is good news for those who have maintained a diversified portfolio.”

But he said there needs to be more economic growth for a sustained recovery by many of the companies and sectors beaten down by the virus pandemic.

The Big Tech stocks that carried the stock market through the pandemic, meanwhile, are suddenly facing more scrutiny for their high prices. Their stocks soared through 2020 on expectations they’ll continue to thrive if the economy is in lockdown mode. But that’s left their prices looking too expensive to critics, even after accounting for their huge profits.

Amazon, which is one of those Big Tech stay-at-home winners, fell 3.5%. It also is facing antitrust charges filed by European Union regulators on Tuesday that accuse it of using its access to data to gain an unfair advantage over merchants using its platform.

Microsoft fell 3.4%, and Facebook lost 2.3%. Those drops have outsized effects on the S&P 500 because they're some of the largest companies in the index by market value.

The S&P 500 is already up 8.4% in November so far. Not only are hopes for a coronavirus vaccine helping to lift markets, so is clearing uncertainty about who will control the government next year.

Democrat Joe Biden over the weekend clinched the last of the electoral votes needed to become the next president. Republicans, meanwhile, appear likely to keep control of the Senate.

That’s a “Goldilocks” scenario for many investors because it could mean low tax rates and other pro-business policies remain, while a more stable and predictable set of policies comes out of the White House. More than anything, though, a Biden win would wipe out the uncertainty that dogged the market through the long, vicious fight for the White House.

But analysts warn many risks still hang over the market, which could easily upend all the gains made in the last couple weeks.

The biggest may be whether investors have become too convinced about a potential COVID-19 vaccine. While early results are encouraging, no vaccine is about to go on the market, and there’s no guarantee that one will or the timing of it.

*ASX 200 expected to rise.*

The Australian share market is expected to continue its positive run on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 63 points or 1% higher. On closing, Wall Street sees the Dow Jones up 0.9%, the S&P 500 down 0.1%, and the Nasdaq 1.37% lower.












https://www.usnews.com/news/busines...rise-for-2nd-day-on-coronavirus-vaccine-hopes

*Global Rally Fades, but Investors’ Hopes Remain for Economy*
Stocks downshifted on Tuesday, a day after their powerful worldwide rally, but optimism remained high that the global economy may still be headed for a return to normal.
By Associated Press, Wire Service Content Nov. 10, 2020, at 4:40 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — Stocks downshifted on Tuesday, a day after their powerful worldwide rally, but optimism remained high that the global economy may still be headed for a return to normal.

It was the second straight day that rising hopes for a COVID-19 vaccine pushed investors to reorder which stocks they see winning and losing, and the continuing revamp left the majority of U.S. stocks higher but indexes mixed. Treasury yields and oil, meanwhile, held onto their big gains from a day earlier or added some more amid strengthened confidence in the economy.

The S&P 500 dipped 4.97 points, or 0.1%, to 3,545.53, after erasing most of an early loss. The relatively small movement, though, belied a lot of churning underneath. Nearly two out of three stocks in the index climbed, while losses for some of the largest and most influential technology stocks offset them.

The Dow Jones Industrial Average gained 262.95 points, or 0.9%, to 29,420.92, and the Nasdaq composite dropped 159.93, or 1.4%, to 11,553.86.

The flashpoint for all the moves was Monday’s announcement from Pfizer that a potential COVID-19 vaccine it’s developing with German partner BioNTech may be 90% effective, based on early but incomplete test results.

“This was such an environment of exuberance, which makes sense given some pretty compelling statistics” about immunity response for the vaccine candidate, said Kristina Hooper, chief global market strategist for Invesco. “But there are still a number of steps between now and distribution.”

Stocks of smaller U.S. companies, which tend to move more with expectations for the economy than their bigger counterparts, rallied again. The Russell 2000 index of small-cap stocks gained 31.97, or 1.9%, to 1,737.01 and finally climbed back above where it was in January. It's just 0.2% below its record high, which was set in 2018.

Several areas of the market that got beaten down through the pandemic and whose low prices make them look like potentially better values led the way. Energy stocks in the S&P 500 rose 2.5% for the best gain among the 11 sectors that make up the index, for example, though they're still down nearly 44% for 2020.

“We're seeing a continuation of this value trade that really took off in earnest yesterday,” said Brian Price, head of investment management for Commonwealth Financial Network. “We’re seeing follow through today, which is good news for those who have maintained a diversified portfolio.”

But he said there needs to be more economic growth for a sustained recovery by many of the companies and sectors beaten down by the virus pandemic.

The Big Tech stocks that carried the stock market through the pandemic, meanwhile, are suddenly facing more scrutiny for their high prices. Their stocks soared through 2020 on expectations they’ll continue to thrive if the economy is in lockdown mode. But that’s left their prices looking too expensive to critics, even after accounting for their huge profits.

Amazon, which is one of those Big Tech stay-at-home winners, fell 3.5%. It also is facing antitrust charges filed by European Union regulators on Tuesday that accuse it of using its access to data to gain an unfair advantage over merchants using its platform.

Microsoft fell 3.4%, and Facebook lost 2.3%. Those drops have outsized effects on the S&P 500 because they're some of the largest companies in the index by market value.

The S&P 500 is already up 8.4% in November so far. Not only are hopes for a coronavirus vaccine helping to lift markets, so is clearing uncertainty about who will control the government next year.

Democrat Joe Biden over the weekend clinched the last of the electoral votes needed to become the next president. Republicans, meanwhile, appear likely to keep control of the Senate.

That’s a “Goldilocks” scenario for many investors because it could mean low tax rates and other pro-business policies remain, while a more stable and predictable set of policies comes out of the White House. More than anything, though, a Biden win would wipe out the uncertainty that dogged the market through the long, vicious fight for the White House.

But analysts warn many risks still hang over the market, which could easily upend all the gains made in the last couple weeks.

The biggest may be whether investors have become too convinced about a potential COVID-19 vaccine. While early results are encouraging, no vaccine is about to go on the market, and there’s no guarantee that one will or the timing of it.

Coronavirus counts, meanwhile, continue to surge at worrying rates across Europe and the United States. It’s troubling enough in Europe that several governments have brought back restrictions on businesses.

And uncertainty could easily swamp Washington again. President Donald Trump has refused to concede and is blocking government officials from cooperating with Biden's team. Some Republicans, including Senate Majority Leader Mitch McConnell, are rallying behind Trump’s efforts to fight the election results.

The Republican control of the Senate that markets seem to be so heavily banking on also depends on the outcome of a pair of runoff elections in Georgia in January.

Still, optimism remains across markets.

The yield on the 10-year Treasury held steady at 0.95% and remains close to its highest level since March. Benchmark U.S. crude oil rose 2.7% to settle at $41.36 per barrel.

European markets rose, while Asian markets ended modestly higher.


----------



## bigdog

Stocks closed mostly higher on Wednesday, helped by big technology stocks, but news of tighter restrictions in New York State helped dent an earlier rally.

The S&P 500 closed up 27.13 points, or 0.8%, to 3,572.66. The benchmark index is now just 8 points below the record high it set in September. The technology-heavy Nasdaq composite rose 232.57 points, or 2%, to 11,786.43.

The Dow Jones Industrial Average fell 23.29 points, or 0.1%, to 29,397.63. The index was dragged lower in part by American Express and Walt Disney, two stocks that shot up this week after news of a potentially successful vaccine sent travel, entertainment and tourism companies surging. The Dow declined shortly after news crossed that New York would put restrictions on bars, restaurants and gyms as COVID-19 infections rose in the state.

Enthusiasm about the economy’s possible return to normal has vaulted stocks higher this week following encouraging, but incomplete data on a potential vaccine for COVID-19. That pushed investors to shift dollars out of the old winners of the stay-at-home, virus-wracked economy and into beaten-down stocks that have a brighter future if people feel comfortable again going outside their homes.

Big Tech stocks had borne the brunt of this week’s dramatic reordering, but they clawed back some of those earlier losses. Microsoft rose 2.6%, erasing much of its loss for the week, for example. Amazon gained 3.4% to pare its weekly loss.

Elsewhere in the market, some of the massive rotation that swept through early this week also eased off the accelerator. The S&P 500 was nearly evenly split between stocks rising and falling, while energy and bank stocks gave back a bit of their huge gains from Monday and Tuesday.

Tourism and entertainment stocks fell sharply, following the drops in American Express and Walt Disney. Delta Air Lines fell 5.5% and Wynn Resorts dropped 5.1%.

While several significant risks remain for Wall Street broadly, the optimistic case that investors are embracing is that one or more coronavirus vaccines could help corral the virus by the second half of next year, encouraging people to return to life as it was before the pandemic.

All that economic activity would come on top of the tremendous aid that the Federal Reserve and other central banks around the world are pumping into the economy through very low interest rates and massive purchases of bonds. Hope also remains that the U.S. government may eventually deliver some form of support for the economy, though its total size would likely be smaller than if Democrats had swept this month’s elections.

Strategists along Wall Street are raising their forecasts for stock prices on expectations that political control of Washington will remain split between the parties. Republicans look set to keep the Senate, as long as runoff elections go their way in Georgia in January, while Democrats will hold the House of Representatives.

*ASX 200 poised to rise again.*

The Australian share market looks set to extend its positive run on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 34 points or 0.5% higher.














https://apnews.com/article/virus-ou...dia-shanghai-a135a548df0c6e8b5aaec8fe5c032c0f

*Rally fades on Wall Street, pulling indexes below records*

By STAN CHOE and KEN SWEET28 minutes ago

NEW YORK (AP) — Stocks closed mostly higher on Wednesday, helped by big technology stocks, but news of tighter restrictions in New York State helped dent an earlier rally.

The S&P 500 closed up 27.13 points, or 0.8%, to 3,572.66. The benchmark index is now just 8 points below the record high it set in September. The technology-heavy Nasdaq composite rose 232.57 points, or 2%, to 11,786.43.

The Dow Jones Industrial Average fell 23.29 points, or 0.1%, to 29,397.63. The index was dragged lower in part by American Express and Walt Disney, two stocks that shot up this week after news of a potentially successful vaccine sent travel, entertainment and tourism companies surging. The Dow declined shortly after news crossed that New York would put restrictions on bars, restaurants and gyms as COVID-19 infections rose in the state.

Enthusiasm about the economy’s possible return to normal has vaulted stocks higher this week following encouraging, but incomplete data on a potential vaccine for COVID-19. That pushed investors to shift dollars out of the old winners of the stay-at-home, virus-wracked economy and into beaten-down stocks that have a brighter future if people feel comfortable again going outside their homes.

Big Tech stocks had borne the brunt of this week’s dramatic reordering, but they clawed back some of those earlier losses. Microsoft rose 2.6%, erasing much of its loss for the week, for example. Amazon gained 3.4% to pare its weekly loss.

Elsewhere in the market, some of the massive rotation that swept through early this week also eased off the accelerator. The S&P 500 was nearly evenly split between stocks rising and falling, while energy and bank stocks gave back a bit of their huge gains from Monday and Tuesday.

Tourism and entertainment stocks fell sharply, following the drops in American Express and Walt Disney. Delta Air Lines fell 5.5% and Wynn Resorts dropped 5.1%.

While several significant risks remain for Wall Street broadly, the optimistic case that investors are embracing is that one or more coronavirus vaccines could help corral the virus by the second half of next year, encouraging people to return to life as it was before the pandemic.

All that economic activity would come on top of the tremendous aid that the Federal Reserve and other central banks around the world are pumping into the economy through very low interest rates and massive purchases of bonds. Hope also remains that the U.S. government may eventually deliver some form of support for the economy, though its total size would likely be smaller than if Democrats had swept this month’s elections.

Strategists along Wall Street are raising their forecasts for stock prices on expectations that political control of Washington will remain split between the parties. Republicans look set to keep the Senate, as long as runoff elections go their way in Georgia in January, while Democrats will hold the House of Representatives.

Democrat Joe Biden has clinched enough electoral votes to win the White House, clearing some of the uncertainty that weighed on the market through the vicious campaign. Even though President Donald Trump has refused to concede, investors are ignoring his complaints so far. They’re instead working on the assumption that a split Washington under Biden could keep tax rates low while offering more steady and predictable policies.

Those expected results helped push strategists at Goldman Sachs to raise their forecast for the S&P 500 at the end of this year to 3,700 from 3,600. That would imply another 4.4% climb from Tuesday’s closing level. They expect it to rally another 16% through 2021. But the biggest driver for that is the hope for a return to normal life, rather than what happens in Washington.


----------



## bigdog

U.S. stocks pulled back on Thursday, amid increasing worries about worsening coronavirus counts across the country.

Markets around the world have taken a pause after galloping higher this month, at first on expectations that Washington will continue several pro-business policies following last week’s U.S. elections. More recently, encouraging early results for a potential COVID-19 vaccine have investors envisioning a global economy returning to normal.

The S&P 500 index lost 35.65 points, or 1%, to 3,537.01. The Dow Jones Industrial Average dropped 317.46 points, or 1.1%, to 29,080.17 and the Nasdaq composite lost 76.84 points, or 0.7%, to 11,709.59.

Analysts are still largely optimistic the market can climb even higher, largely because they see a potential vaccine as a game changer. Despite the declines, the S&P 500 and Dow are both close to their record highs. But several risks remain that could trip up markets in the near term. Rising above them all is the continuing pandemic, with daily counts climbing in nearly every state.

The trends are worsening enough in New York, for example, that the state is ordering restaurants, bars and gyms to close at 10 p.m. each night, beginning Friday. New York had been a hotbed for the virus early in the year but had seemed to have gotten it largely under control. In Europe, several governments have brought back even tougher restrictions that will likely restrain the economy.

“From a health standpoint and economic standpoint, the very near term looks relatively bleak,” said Mike Dowdall, investment strategist with BMO Global Asset Management.

But while he says more volatility may hit the market in the near term as governments bring back restrictions, he’s still optimistic about its prospects into next year.

“If you think back to the dark days of March, you didn’t know how far we were from normalization,” he said. “People were saying it may be years. But the backdrop from a markets standpoint is just a lot different than it was in March.”

Beyond the vaccines in development, which could get everyday life closer to normal, he cited the Federal Reserve, which has already shown it can roll out bond-buying programs swiftly to support markets.

Thursday’s slip for the S&P 500 pares its gain for November down to 8.2%. If it holds there, it would still be the best month for the benchmark index since April, when the market was first exploding out of the crater created by the market’s sell-off amid pandemic panic.

Declines in Big Tech stocks, which have held out well throughout much of the pandemic, helped pull the market lower. Microsoft and Facebook each slipped 0.5%.

Several of the stocks that would benefit most from an economy returning to normal, meanwhile, were lagging.

Financial stocks in the S&P 500, whose profits are more closely tied to the strength of the economy than Big Tech, fell 1.7% for one of the largest losses among the 11 sectors that make up the index. Only energy, raw materials and utility companies fell more.

While the market is showing signs of worry over the uptick in virus cases, the longer view for an economic recovery is still solid, said Brent Schutte, chief investment strategist of Northwestern Mutual Wealth Management. That scenario is bolstered by the advances in vaccine development.

“At some point the vaccine means the virus ends and we get back to something normal,” he said. “I feel fairly confident going into next year.”

*ASX 200 looks set to fall again.*
It looks set to be a tough end to the week for the ASX 200 after global markets dropped lower. According to the latest SPI futures, the ASX 200 is expected to open the day 26 points or 0.40% lower.

The S&P 500 index lost 35.65 points, or 1%, to 3,537.01. The Dow Jones Industrial Average dropped 317.46 points, or 1.1%, to 29,080.17 and the Nasdaq composite lost 76.84 points, or 0.7%, to 11,709.59.  There are concerns that rising COVID-19 cases could weigh on the global economy.











https://apnews.com/article/technolo...andemic-asia-fab4cc5197f0b4f317fd74977aafaddf

*Stocks pull further below record highs as infections spread*

By STAN CHOE and DAMIAN J. TROISE

NEW YORK (AP) — U.S. stocks pulled back on Thursday, amid increasing worries about worsening coronavirus counts across the country.

Markets around the world have taken a pause after galloping higher this month, at first on expectations that Washington will continue several pro-business policies following last week’s U.S. elections. More recently, encouraging early results for a potential COVID-19 vaccine have investors envisioning a global economy returning to normal.

The S&P 500 index lost 35.65 points, or 1%, to 3,537.01. The Dow Jones Industrial Average dropped 317.46 points, or 1.1%, to 29,080.17 and the Nasdaq composite lost 76.84 points, or 0.7%, to 11,709.59.

Analysts are still largely optimistic the market can climb even higher, largely because they see a potential vaccine as a game changer. Despite the declines, the S&P 500 and Dow are both close to their record highs. But several risks remain that could trip up markets in the near term. Rising above them all is the continuing pandemic, with daily counts climbing in nearly every state.

The trends are worsening enough in New York, for example, that the state is ordering restaurants, bars and gyms to close at 10 p.m. each night, beginning Friday. New York had been a hotbed for the virus early in the year but had seemed to have gotten it largely under control. In Europe, several governments have brought back even tougher restrictions that will likely restrain the economy.

“From a health standpoint and economic standpoint, the very near term looks relatively bleak,” said Mike Dowdall, investment strategist with BMO Global Asset Management.

But while he says more volatility may hit the market in the near term as governments bring back restrictions, he’s still optimistic about its prospects into next year.

“If you think back to the dark days of March, you didn’t know how far we were from normalization,” he said. “People were saying it may be years. But the backdrop from a markets standpoint is just a lot different than it was in March.”

Beyond the vaccines in development, which could get everyday life closer to normal, he cited the Federal Reserve, which has already shown it can roll out bond-buying programs swiftly to support markets.

Thursday’s slip for the S&P 500 pares its gain for November down to 8.2%. If it holds there, it would still be the best month for the benchmark index since April, when the market was first exploding out of the crater created by the market’s sell-off amid pandemic panic.

Declines in Big Tech stocks, which have held out well throughout much of the pandemic, helped pull the market lower. Microsoft and Facebook each slipped 0.5%.

Several of the stocks that would benefit most from an economy returning to normal, meanwhile, were lagging.

Financial stocks in the S&P 500, whose profits are more closely tied to the strength of the economy than Big Tech, fell 1.7% for one of the largest losses among the 11 sectors that make up the index. Only energy, raw materials and utility companies fell more.

While the market is showing signs of worry over the uptick in virus cases, the longer view for an economic recovery is still solid, said Brent Schutte, chief investment strategist of Northwestern Mutual Wealth Management. That scenario is bolstered by the advances in vaccine development.

“At some point the vaccine means the virus ends and we get back to something normal,” he said. “I feel fairly confident going into next year.”

A report on Thursday showed that the number of layoffs across the country remains incredibly high, though it again eased by a bit. Last week, 709,000 workers filed for unemployment benefits, down from 757,000 a week earlier. It was also a better reading than economists were expecting.

But economists caution that the numbers could climb again if coronavirus counts keep rising across the country and trigger more business closures.

A separate report showed that inflation at the consumer level was weaker last month than economists expected.

In European stock markets, the French CAC 40 fell 1.5%, and Germany’s DAX lost 1.2%. The FTSE 100 in London dropped 0.7% after data showed the economy slowed in September following strong growth in the summer. That bodes ill for the autumn, when new restrictions on businesses were imposed.

In Asia, Japan’s Nikkei 225 rose 0.7% but other indexes were weaker. South Korea’s Kospi lost 0.4%, Hong Kong’s Hang Seng dipped 0.2% and stocks in Shanghai slipped 0.1%.

Chinese technology shares have taken a beating this week, losing about $290 billion in market capitalization after the government issued new proposed anti-trust regulations for digital industries, said Jeffrey Halley of Oanda.


----------



## bigdog

The S&P 500 closed at a record high on Friday as optimism built among investors that a coming vaccine for coronavirus will help end the shutdowns that have devastated the economy.

Markets also welcomed the election of Joe Biden as president and the likelihood of Republican control of the Senate, setting up a divided government that will probably mean a continuation of business-friendly policies. Small-company stocks outpaced the rest of the market this week, reflecting greater confidence in the economy.

The S&P 500 added 48.14 points, or 1.4%, to 3,585.15, rising above the index's previous closing record of 3,580.84 set back in early September. Both the Dow Jones Industrial Average and the Nasdaq composite closed higher as well, but did not close at records. The S&P 500 ended the week up 2.2%.

The Dow rose 399.64 points, or 1.4%, to 29,479.81 and the Nasdaq rose 119.70 points, or 1%, to 11,829.29.

The market index that had the best week was the Russell 2000, which is made up of smaller companies that tend to benefit the most when investors are positive on the economy. The Russell climbed 2.1% to close at 1,744.04, besting the closing high it reached in August 2018. The index jumped 6.1% this week.

The market was lifted by energy, real estate and companies that rely on consumer spending, while big technology companies floated between gains and losses. One exception in technology was Cisco, which jumped 7.1% on the back of better-than-expected earnings.

Reports of surging COVID-19 cases had a sobering effect on markets earlier in the week, which had advanced on hopes for a vaccine and expectations that pro-business policies will continue after last week’s U.S. elections. The concern was that even if a vaccine is finalized soon, it will take months for it to be distributed throughout the U.S. and around the globe.











https://www.usnews.com/news/busines...stly-drop-on-worries-over-surging-virus-cases

*S&P 500 Closes at Record as Possible Vaccine Lifts Markets*
The S&P 500 closed at a record high on Friday as optimism built among investors that a coming vaccine for coronavirus will help end the shutdowns that have devastated the economy.
By Associated Press, Wire Service Content Nov. 13, 2020, at 4:46 p.m.

By KEN SWEET and DAMIAN TROISE, AP Business Writers

The S&P 500 closed at a record high on Friday as optimism built among investors that a coming vaccine for coronavirus will help end the shutdowns that have devastated the economy.

Markets also welcomed the election of Joe Biden as president and the likelihood of Republican control of the Senate, setting up a divided government that will probably mean a continuation of business-friendly policies. Small-company stocks outpaced the rest of the market this week, reflecting greater confidence in the economy.

The S&P 500 added 48.14 points, or 1.4%, to 3,585.15, rising above the index's previous closing record of 3,580.84 set back in early September. Both the Dow Jones Industrial Average and the Nasdaq composite closed higher as well, but did not close at records. The S&P 500 ended the week up 2.2%.

The Dow rose 399.64 points, or 1.4%, to 29,479.81 and the Nasdaq rose 119.70 points, or 1%, to 11,829.29.

The market index that had the best week was the Russell 2000, which is made up of smaller companies that tend to benefit the most when investors are positive on the economy. The Russell climbed 2.1% to close at 1,744.04, besting the closing high it reached in August 2018. The index jumped 6.1% this week.

The market was lifted by energy, real estate and companies that rely on consumer spending, while big technology companies floated between gains and losses. One exception in technology was Cisco, which jumped 7.1% on the back of better-than-expected earnings.

Reports of surging COVID-19 cases had a sobering effect on markets earlier in the week, which had advanced on hopes for a vaccine and expectations that pro-business policies will continue after last week’s U.S. elections. The concern was that even if a vaccine is finalized soon, it will take months for it to be distributed throughout the U.S. and around the globe.

Coronavirus caseloads are rising at a faster pace in the U.S. in almost every state. In New York, the state is ordering restaurants, bars and gyms to close at 10 p.m., beginning Friday. New York was devastated by the virus earlier this year but seemed to have gotten it largely under control. In Europe, several governments have brought back even tougher restrictions that will likely restrain the economy.

One sign of consumer worry regarding the rising coronavirus infections was reflected in the University of Michigan's consumer sentiment survey, which fell to a reading of 77 from October's reading of 81.8. That figure was below economist expectations.

David Lefkowitz, head of Americas equities at UBS Global Wealth Management, said there is a “tug of war” in the markets between the good news from vaccine development and the worrying news that coronavirus cases are surging.

“I still think the dust is kind of settling from that vaccine news as investors think about how to be positioned,” he said.

In Japan, where the pandemic had seemed relatively under control at fewer than 2,000 cumulative deaths, the number of reported daily cases nationwide reached a record for the country on Thursday, at more than 1,660 people. Especially affected were Tokyo and the northern island of Hokkaido, raising worries that a recent government campaign to discount domestic travel might have helped spread infections


----------



## bigdog

*ASX 200 expected to rise.*

It looks set to be a positive start to the week for the Australian share market after a strong finish to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to rise 16 points or 0.25% at the open. On Friday night in the United States, the Dow Jones rose 1.4%, the S&P 500 climbed 1.4%, and the Nasdaq pushed 1% higher. The S&P 500 hit a record high on Friday.


----------



## bigdog

The Dow Jones Industrial Average returned to a record Monday for the first time since plunging nine months ago in despair about the pandemic, riding a swell of optimism that a vaccine may soon control the coronavirus and the economic destruction it’s caused.

Moderna said early in the morning that its COVID-19 vaccine appears to be 94.5% effective, according to preliminary data. It’s the second time this month that a company unveiled such encouraging numbers about a vaccine, boosting hopes that the global economy can return to some semblance of normal next year.

Leading the way again were stocks of companies that would benefit most from an economy busting out of its forced hibernation, such as airlines, movie theaters and banks. At the same time, pandemic-winning stocks that benefited from lockdown orders like Amazon and Zoom Video Communications lagged as they no longer looked like the only safe bets to play.

The Dow jumped 470.63 points, or 1.6%, to 29,950.44. It surpassed its prior closing record of 29,551.42, set in February before pandemic panic hit the market.

The S&P 500, which matters more to the performance of most 401(k) accounts, added to its own record set on Friday. It rose 41.76, or 1.2%, to 3,626.91. The Nasdaq composite gained 94.84, or 0.8%, to 11,924.13. It lagged the rest of the market amid lessened interest for tech stocks.

Treasury yields, oil prices and stocks around the world also rallied on the shot of increased optimism. A vaccine is precisely what markets have been waiting for to pull the global economy out of its cavern, and analysts say it’s a game changer.

Of course, for all its euphoria, many risks remain for the market. It’s still not guaranteed when a vaccine could be widely available, let alone whether one ultimately will. The pandemic is continuing to worsen, meanwhile, with rising coronavirus counts across the United States and Europe pushing governments to bring back varying degrees of restrictions on businesses. Some areas of the economy have been slowing, particularly after big financial-support programs from Congress expired.

“The vaccine could help people breathe a sigh of relief, but the devil is in the details,” said Gene Goldman, chief investment officer at Cetera Financial Group, referring to the need for more complete data and eventual distribution plans.

But investors for now are focusing on the possibility of a world next year where customers are again going outside to work at offices, buying things at enclosed stores and heading on vacations.

It was just a week ago that Pfizer and BioNTech sent optimism soaring with their encouraging vaccine data results. Movie-theater chain Cinemark has surged 58.3% since just before the announcement. Stocks of smaller companies, whose prices tend to sway more with the strength of the economy, are up more than double their larger rivals over the same time: an 8.6% jump for the Russell 2000 index of small-cap stocks versus 3.3% for the S&P 500.

Stocks of companies that had thrived amid lockdowns and vigilance about the virus, meanwhile, have lagged. Amazon, Netflix and Etsy are all down more than 5% since just before Pfizer’s announcement. Zoom has sunk 20.2%.

The shift in market sentiment is perhaps most clear in the stock prices of Peloton, with its at-home exercise bikes, and the Planet Fitness chain of gyms. Peloton is down 18.8% since Nov. 6, versus a gain of 5.7% for Planet Fitness.

Investors aren’t abandoning Big Tech amid the vaccine hopes. But the ability of Apple, Microsoft and other behemoths to stand so clearly apart from the rest of the market has diminished a bit. That has many money managers pulling some of the big profits made on Big Tech and steering them into beaten-down areas of the market.

Of course, such movements could limit the gains for broad index funds. Stocks with bigger market values hold bigger sway on the S&P 500 and other indexes, which means any slowdown for Big Tech could diminish movements for the funds at the center of many 401(k) accounts, even if the rest of the market is rising.

“That’s sometimes what happens when you get a rotation, especially into the smaller stocks,” said Barry James, portfolio manager with James Investment Research. “You don’t see it. It’s almost invisible.”

Even before Moderna’s vaccine news, markets had been trading higher as investors welcomed the signing on Sunday of an agreement establishing the world’s biggest trade bloc, a group of 15 countries that includes China, Japan, South Korea, 10 countries in Southeast Asia, New Zealand and Australia. The United States, the No. 1 economy, is not a part of it.


*ASX 200 expected to edge lower.*

The Australian share market looks set to edge lower this morning if it opens as planned. According to the latest SPI futures, the ASX 200 is expected to fall 3 points this morning.  
The Dow jumped 470.63 points, or 1.6%, to 29,950.44.  The S&P 500, rose 41.76, or 1.2%, to 3,626.91. The Nasdaq composite gained 94.84, or 0.8%, to 11,924.13. 











https://apnews.com/article/financia...andemic-asia-41272a6a6ccbf06af32e17789a8a4bb2

*Dow returns to record, S&P 500 adds to its on vaccine hopes*

By STAN CHOE and DAMIAN J. TROISE

NEW YORK (AP) — The Dow Jones Industrial Average returned to a record Monday for the first time since plunging nine months ago in despair about the pandemic, riding a swell of optimism that a vaccine may soon control the coronavirus and the economic destruction it’s caused.

Moderna said early in the morning that its COVID-19 vaccine appears to be 94.5% effective, according to preliminary data. It’s the second time this month that a company unveiled such encouraging numbers about a vaccine, boosting hopes that the global economy can return to some semblance of normal next year.

Leading the way again were stocks of companies that would benefit most from an economy busting out of its forced hibernation, such as airlines, movie theaters and banks. At the same time, pandemic-winning stocks that benefited from lockdown orders like Amazon and Zoom Video Communications lagged as they no longer looked like the only safe bets to play.

The Dow jumped 470.63 points, or 1.6%, to 29,950.44. It surpassed its prior closing record of 29,551.42, set in February before pandemic panic hit the market.

The S&P 500, which matters more to the performance of most 401(k) accounts, added to its own record set on Friday. It rose 41.76, or 1.2%, to 3,626.91. The Nasdaq composite gained 94.84, or 0.8%, to 11,924.13. It lagged the rest of the market amid lessened interest for tech stocks.

Treasury yields, oil prices and stocks around the world also rallied on the shot of increased optimism. A vaccine is precisely what markets have been waiting for to pull the global economy out of its cavern, and analysts say it’s a game changer.

Of course, for all its euphoria, many risks remain for the market. It’s still not guaranteed when a vaccine could be widely available, let alone whether one ultimately will. The pandemic is continuing to worsen, meanwhile, with rising coronavirus counts across the United States and Europe pushing governments to bring back varying degrees of restrictions on businesses. Some areas of the economy have been slowing, particularly after big financial-support programs from Congress expired.

“The vaccine could help people breathe a sigh of relief, but the devil is in the details,” said Gene Goldman, chief investment officer at Cetera Financial Group, referring to the need for more complete data and eventual distribution plans.

But investors for now are focusing on the possibility of a world next year where customers are again going outside to work at offices, buying things at enclosed stores and heading on vacations.

It was just a week ago that Pfizer and BioNTech sent optimism soaring with their encouraging vaccine data results. Movie-theater chain Cinemark has surged 58.3% since just before the announcement. Stocks of smaller companies, whose prices tend to sway more with the strength of the economy, are up more than double their larger rivals over the same time: an 8.6% jump for the Russell 2000 index of small-cap stocks versus 3.3% for the S&P 500.

Stocks of companies that had thrived amid lockdowns and vigilance about the virus, meanwhile, have lagged. Amazon, Netflix and Etsy are all down more than 5% since just before Pfizer’s announcement. Zoom has sunk 20.2%.

The shift in market sentiment is perhaps most clear in the stock prices of Peloton, with its at-home exercise bikes, and the Planet Fitness chain of gyms. Peloton is down 18.8% since Nov. 6, versus a gain of 5.7% for Planet Fitness.

Investors aren’t abandoning Big Tech amid the vaccine hopes. But the ability of Apple, Microsoft and other behemoths to stand so clearly apart from the rest of the market has diminished a bit. That has many money managers pulling some of the big profits made on Big Tech and steering them into beaten-down areas of the market.

Of course, such movements could limit the gains for broad index funds. Stocks with bigger market values hold bigger sway on the S&P 500 and other indexes, which means any slowdown for Big Tech could diminish movements for the funds at the center of many 401(k) accounts, even if the rest of the market is rising.

“That’s sometimes what happens when you get a rotation, especially into the smaller stocks,” said Barry James, portfolio manager with James Investment Research. “You don’t see it. It’s almost invisible.”

Even before Moderna’s vaccine news, markets had been trading higher as investors welcomed the signing on Sunday of an agreement establishing the world’s biggest trade bloc, a group of 15 countries that includes China, Japan, South Korea, 10 countries in Southeast Asia, New Zealand and Australia. The United States, the No. 1 economy, is not a part of it.

Called the Regional Comprehensive Economic Partnership, the pact mostly will bring already low tariffs lower over a 20-year period. It is expected to have a positive but incremental impact on trade in the region.

Japan’s Nikkei 225 rose 2.1%, South Korea’s Kospi gained 2% and Hong Kong’s Hang Seng added 0.9%. France’s CAC 40 jumped 1.7%, and Germany’s DAX returned 0.5%. The FTSE 100 in London gained 1.7%.

Benchmark U.S. crude oil climbed 3% to settle at $41.34 per barrel amid hopes that a healthier economy would burn more fuel. Brent crude, the international standard, rose 2.4% to settle at $43.82 per barrel.

The yield on the 10-year Treasury rose to 0.90% from 0.87% late Friday.


----------



## bigdog

Stocks took a pause from their big rally this month that has vaulted them back to record heights.

Worries about the worsening pandemic pushed Wall Street to tap the brakes Tuesday on its big November rally, which had vaulted stocks back to record heights.

Treasury yields also dipped after a report showed U.S. shoppers spent less at retailers last month than economists expected. The numbers underscore how the coronavirus pandemic is worsening and threatens to drag the economy lower, at least in the near term.

Stocks that stormed higher this month on hopes that a vaccine or two may get the global economy back to normal next year receded amid the worries.

The S&P 500 fell 17.38 points, or 0.5%, from its record to close at 3,609.53. It was the first loss for the index in three days.

The Dow Jones Industrial Average also fell from a record, down 167.09, or 0.6%, to 29,783.35. The Nasdaq composite slipped 24.79, or 0.2%, to 11,899.34.

“Today is a good example of how the markets have been pricing in a lot of the good news,” said David Trainer, CEO of investment research firm New Constructs.

Stocks in the pharmacy business were among the biggest drags on the market after Amazon targeted them as the latest industry it’s trying to upend. The retailing behemoth opened an online pharmacy Tuesday that allows customers to have prescriptions delivered to their door in a couple days.

CVS Health fell 8.6%, Walgreens Boots Alliance dropped 9.6% and Rite-Aid lost 16.3%. Amazon, meanwhile, ticked up 0.1%.

On the winning side was Tesla, which rose 8.2% following an announcement that it will join the S&P 500 index next month. The index is hugely influential, and nearly $4.6 trillion at the end of last year was in funds that mimic the S&P 500.

The electric-vehicle company had already soared 388.8% in 2020 before Monday evening’s index announcement. With a total market value rivaling Johnson & Johnson's and Visa's, it's set to become one of the biggest stocks in the S&P 500.

The broader stock market slowed Tuesday, though, and the majority of stocks in the S&P 500 were lower.

*ASX 200 expected to rise.*

The Australian share market looks set to extend its positive run on Wednesday despite a mixed night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to rise 14 points or 0.2% at the open.  The S&P 500 fell 17.38 points, or 0.5%, from its rcord to close at 3,609.53.  The Dow Jones Industrial Average also fell from a record, down 167.09, or 0.6%, to 29,783.35. The Nasdaq composite slipped 24.79, or 0.2%, to 11,899.34.











https://www.usnews.com/news/busines...-shares-buoyed-by-news-on-coronavirus-vaccine

*Stocks Fall as Virus Worries Force Big Rally to Take a Pause*
Stocks took a pause from their big rally this month that has vaulted them back to record heights.
By Associated Press, Wire Service Content Nov. 17, 2020, at 4:29 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — Worries about the worsening pandemic pushed Wall Street to tap the brakes Tuesday on its big November rally, which had vaulted stocks back to record heights.

Treasury yields also dipped after a report showed U.S. shoppers spent less at retailers last month than economists expected. The numbers underscore how the coronavirus pandemic is worsening and threatens to drag the economy lower, at least in the near term.

Stocks that stormed higher this month on hopes that a vaccine or two may get the global economy back to normal next year receded amid the worries.

The S&P 500 fell 17.38 points, or 0.5%, from its record to close at 3,609.53. It was the first loss for the index in three days.

The Dow Jones Industrial Average also fell from a record, down 167.09, or 0.6%, to 29,783.35. The Nasdaq composite slipped 24.79, or 0.2%, to 11,899.34.

“Today is a good example of how the markets have been pricing in a lot of the good news,” said David Trainer, CEO of investment research firm New Constructs.

Stocks in the pharmacy business were among the biggest drags on the market after Amazon targeted them as the latest industry it’s trying to upend. The retailing behemoth opened an online pharmacy Tuesday that allows customers to have prescriptions delivered to their door in a couple days.

CVS Health fell 8.6%, Walgreens Boots Alliance dropped 9.6% and Rite-Aid lost 16.3%. Amazon, meanwhile, ticked up 0.1%.

On the winning side was Tesla, which rose 8.2% following an announcement that it will join the S&P 500 index next month. The index is hugely influential, and nearly $4.6 trillion at the end of last year was in funds that mimic the S&P 500.

The electric-vehicle company had already soared 388.8% in 2020 before Monday evening’s index announcement. With a total market value rivaling Johnson & Johnson's and Visa's, it's set to become one of the biggest stocks in the S&P 500.

The broader stock market slowed Tuesday, though, and the majority of stocks in the S&P 500 were lower.

Boston Scientific dropped 7.9% for one of the largest losses in the index after it issued a voluntary recall for its LOTUS Edge aortic valve system. Analysts said problems with its delivery system essentially mean an end to what was once a promising business.

Sales at U.S. retailers rose 0.3% last month from September, a sharp slowdown from September’s 1.6% growth. The figure also fell short of economists’ expectations for 0.5% growth.

Part of the shortfall is likely because laid-off workers are no longer getting extra unemployment benefits from the U.S. government following the expiration of several financial-support programs from Congress. Democrats and Republicans in Washington have talked about renewing some of the programs, but progress has been painfully slow amid deep partisanship in Washington.

That’s layering on top of the accelerating pandemic, which is pushing governments across the United States and Europe to bring back varying degrees of restrictions on daily life in hopes of slowing the spread of the virus. Health experts are warning of a bleak winter on the way.

Federal Reserve Chair Jerome Powell said Tuesday the surge could raise fear enough to discourage consumers from spending and hurt the economy.

“The concern is that people will lose confidence in efforts to control the pandemic, and ... we’re seeing signs of that already,” Powell said in an online discussion with the Bay Area Council, a San Francisco-based business group.

That’s all helped dilute some of the optimism that’s rushed through markets since early last week. Companies have released encouraging early results for a couple potential COVID-19 vaccines, which is raising hopes that the economy can get back to normal and stocks beaten down during the pandemic can roar back to life.

Even with Tuesday’s decline, the S&P 500 is still up 10.4% for November so far. That’s better than any monthly performance for the index since April, when stocks were exploding higher following their pandemic-induced plunge.

“So, this theme of rotation away from some of these hyper-valued tech names to some more reasonably valued and profitable companies is going to be a big part of the theme going into the end of the year,” Trainer said.

The yield on the 10-year Treasury fell to 0.87% from 0.89% late Monday.

In Europe, Germany’s DAX was close to flat, and France’s CAC 40 reversed an earlier loss to rise 0.2%. The FTSE 100 in London fell 0.9%.

In Asia, stocks were mixed. Japan’s Nikkei 225 rose 0.4%, and Hong Kong’s Hang Seng inched up 0.1%. South Korea’s Kospi slipped 0.2%, and stocks in Shanghai lost 0.2%.


----------



## bigdog

A late-afternoon slide on Wall Street dragged stocks broadly lower Wednesday, wiping out early gains and adding to losses from a day earlier as investors worry about the economic fallout from surging coronavirus cases in the U.S.

The S&P 500 fell 1.2%. It had been up 0.3% in the early going after Pfizer and BioNTech reported updated data suggesting their potential COVID-19 vaccine may be 95% effective. The companies said they plan to ask U.S. regulators within days to allow emergency use of the vaccine.

The news, which followed encouraging data on Monday about a vaccine being developed by Moderna, initially gave investors cause for optimism that the virus-ravaged economy could begin to heal next year. But such optimism is being tempered by a spike in coronavirus cases and worries that it will lead to widespread restrictions on businesses once more.

Coronavirus counts and hospitalizations are up across the country, and health experts are warning about the possibility of a brutal winter.

“This is a market that is fluctuating as it makes a determination about the effect that the COVID-19 restrictions and lockdowns have on the reopening of the U.S. economy, versus the positive news that stems from potential vaccinations beginning in 2021,” said Quincy Krosby, chief market strategist at Prudential Financial. “It’s sort of a tug-of-war.”

The S&P 500 fell 41.74 points to 3,567.79. The Dow Jones Industrial Average dropped 344.93 points, or 1.2%, to 29,438.42. The Nasdaq composite lost 97.74 points, or 0.8%, to 11,801.60.

Small-company stocks, which have notched the biggest gains this month, gave up 22.60 points, or 1.3%, to 1,769.32.

Newly confirmed coronavirus infections per day in the U.S. have exploded more than 80% over the past two weeks to the highest levels on record, with the daily count running at close to 160,000 on average. Cases are on the rise in all 50 states. Deaths are averaging more than 1,155 per day, the highest in months.

The surge is leading governors and mayors across the U.S. to grudgingly issue mask mandates, limit the size of private and public gatherings, ban indoor restaurant dining, close gyms or restrict the hours and capacity of various businesses. Wednesday’s afternoon sell-off on Wall Street accelerated after New York City said it would close its public schools to in-person learning again as infections continue to rise there.

Despite shedding modest gains from earlier in the day, stocks remain close to their record highs. Hopes for a coronavirus vaccine coming in the future have helped push stocks higher this month as some investors look past the worsening pandemic in the present.

“That story seems to be moderating a little bit here as the coronavirus news has now mostly been digested by the marketplace,” said Tom Martin, senior portfolio manager with Globalt Investments. “The vaccine news immediately captures the imagination because you see an endpoint.”

Companies that would benefit most from a healing, reopening economy, such as airlines and banks, helped push the market higher in the early going Wednesday, though the stocks gave up much of their gains by the end of the day. United Airlines gained 1.1% and American Airlines added 0.3%.

All told, technology, health care and communication services stocks accounted for much of the decline.

Many risks remain for the market. Chief among them is the pandemic, which is accelerating so quickly that governments across the United States and Europe are bringing back varying degrees of restrictions on businesses.


*ASX 200 poised to rise gain.*

The Australian share market looks set to continue its positive run despite a weak night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to rise 27 points or 0.4% at the open.  The S&P 500 fell 41.74 points to 3,567.79. The Dow Jones Industrial Average dropped 344.93 points, or 1.2%, to 29,438.42. The Nasdaq composite lost 97.74 points, or 0.8%, to 11,801.60.











https://apnews.com/article/financia...ong-shanghai-cf4116f76a618a4f3e2fd12aaf871870

*Stocks give up early gains and end lower on Wall Street*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA23 minutes ago

A late-afternoon slide on Wall Street dragged stocks broadly lower Wednesday, wiping out early gains and adding to losses from a day earlier as investors worry about the economic fallout from surging coronavirus cases in the U.S.

The S&P 500 fell 1.2%. It had been up 0.3% in the early going after Pfizer and BioNTech reported updated data suggesting their potential COVID-19 vaccine may be 95% effective. The companies said they plan to ask U.S. regulators within days to allow emergency use of the vaccine.

The news, which followed encouraging data on Monday about a vaccine being developed by Moderna, initially gave investors cause for optimism that the virus-ravaged economy could begin to heal next year. But such optimism is being tempered by a spike in coronavirus cases and worries that it will lead to widespread restrictions on businesses once more.

Coronavirus counts and hospitalizations are up across the country, and health experts are warning about the possibility of a brutal winter.

“This is a market that is fluctuating as it makes a determination about the effect that the COVID-19 restrictions and lockdowns have on the reopening of the U.S. economy, versus the positive news that stems from potential vaccinations beginning in 2021,” said Quincy Krosby, chief market strategist at Prudential Financial. “It’s sort of a tug-of-war.”

The S&P 500 fell 41.74 points to 3,567.79. The Dow Jones Industrial Average dropped 344.93 points, or 1.2%, to 29,438.42. The Nasdaq composite lost 97.74 points, or 0.8%, to 11,801.60.

Small-company stocks, which have notched the biggest gains this month, gave up 22.60 points, or 1.3%, to 1,769.32.

Newly confirmed coronavirus infections per day in the U.S. have exploded more than 80% over the past two weeks to the highest levels on record, with the daily count running at close to 160,000 on average. Cases are on the rise in all 50 states. Deaths are averaging more than 1,155 per day, the highest in months.

The surge is leading governors and mayors across the U.S. to grudgingly issue mask mandates, limit the size of private and public gatherings, ban indoor restaurant dining, close gyms or restrict the hours and capacity of various businesses. Wednesday’s afternoon sell-off on Wall Street accelerated after New York City said it would close its public schools to in-person learning again as infections continue to rise there.

Despite shedding modest gains from earlier in the day, stocks remain close to their record highs. Hopes for a coronavirus vaccine coming in the future have helped push stocks higher this month as some investors look past the worsening pandemic in the present.

“That story seems to be moderating a little bit here as the coronavirus news has now mostly been digested by the marketplace,” said Tom Martin, senior portfolio manager with Globalt Investments. “The vaccine news immediately captures the imagination because you see an endpoint.”

Companies that would benefit most from a healing, reopening economy, such as airlines and banks, helped push the market higher in the early going Wednesday, though the stocks gave up much of their gains by the end of the day. United Airlines gained 1.1% and American Airlines added 0.3%.

All told, technology, health care and communication services stocks accounted for much of the decline.

Many risks remain for the market. Chief among them is the pandemic, which is accelerating so quickly that governments across the United States and Europe are bringing back varying degrees of restrictions on businesses.

Even with the encouraging figures from pharmaceutical companies about their potential vaccines, there’s also still no guarantee one will be approved or how long it will take for it to be widely distributed.

Federal Reserve Chair Jerome Powell on Tuesday warned of the potential economic damage in the next few months because of the pandemic. Additional lockdown orders would keep customers away from businesses. But even if the strictest stay-at-home orders don’t return, fear alone of the virus could keep consumers hunkered at home.

Powell and other economists have said another big financial-support program from Congress could help tide the economy over. But bitter partisanship in Washington has prevented any deal to renew extra unemployment benefits for laid-off workers and other stimulus efforts that expired earlier this year.

In Europe, a coronavirus relief package is being held up by a diplomatic dispute between Hungary and Poland and several other major EU countries.

The yield on the 10-year Treasury ticked up to 0.87% from 0.85% late Tuesday. A report showed that homebuilders broke ground on more new houses last month than economists expected.

European stock markets rose. In Asia, Japan’s Nikkei 225 fell but other markets were stronger.


----------



## bigdog

Stocks ended higher, shaking off a weak start and nearly erasing the S&P 500's losses for the week.

Wall Street capped a day of choppy trading with modest gains for stocks Thursday, as the market's tug of war continues between worries about the worsening pandemic in the present and optimism that a vaccine will rescue the economy in the future.

The S&P 500 rose 0.4% after spending much of the day flipping between small losses and gains. The benchmark index was coming off a 1.2% slide from the day before that pulled it away from its record of 3,626.91 set on Monday. The late-afternoon burst of buying erased nearly all of the S&P 500's losses for the week.

Technology companies accounted for much of the rebound. Companies that rely on consumer spending and communications stocks also helped lift the market, outweighing losses in the utilities and health care sectors. Treasury yields fell, a sign of caution in the market.

The S&P 500 gained 14.08 points to 3,581.87. The Dow Jones Industrial Average added 44.81 points, or 0.2%, to 29,483.23. The index had been down 210 points. The tech-heavy Nasdaq composite climbed 103.11 points, or 0.9%, to 11,904.71.

Small-company stocks had a good showing. The Russell 2000 index picked up 14.82 points, or 0.8%, 1,784.13.

Wall Street’s huge November rally has slowed this week as fears about the economy buckling in the near term collide with hopes that stronger growth will arrive next year once effective coronavirus vaccines become available. A discouraging report on Thursday underscored the fears, showing that more U.S. workers filed for unemployment benefits last week than the week before. It was a worse number than economists expected and the first increase in five weeks.

With infections and hospitalizations on the rise across much of the country, governors and mayors are grudgingly issuing mask mandates, limiting the size of gatherings, banning indoor restaurant dining, closing gyms and restricting the hours and capacity of other businesses.

“Good vaccine news is battling worsening coronavirus trends,” said Ross Mayfield, investment strategist at Baird. “We’re at this point where you have the endgame in sight, but the path to get there looks really murky.”

Investors worry the moves and the worsening pandemic that caused them will hurt corporate profits and shake confidence among consumers, keeping them hunkered at home. New York City’s announcement that it’s halting in-person learning at public schools helped send stocks on their late-day slide Wednesday.

Democrats and Republicans in Washington, meanwhile, are still stymied in their attempts to deliver another dose of financial support to workers and businesses. That has the specter of a bleak winter looming for both the health care system and economy.

Counterbalancing all those fears is hope that coming vaccines can control the pandemic and get the global economy back toward normal next year.

*ASX 200 expected to push higher.*

The Australian share market could end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to push 17 points or 0.25% higher at the open.  The S&P 500 gained 14.08 points to 3,581.87. The Dow Jones Industrial Average added 44.81 points, or 0.2%, to 29,483.23. The index had been down 210 points. The tech-heavy Nasdaq composite climbed 103.11 points, or 0.9%, to 11,904.71.











https://www.usnews.com/news/busines...ets-follow-wall-street-lower-on-virus-anxiety

*Stocks Rise Amid Investors’ Tug of War Between Hope, Fear*
Stocks ended higher, shaking off a weak start and nearly erasing the S&P 500's losses for the week.
By Associated Press, Wire Service Content Nov. 19, 2020, at 4:51 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street capped a day of choppy trading with modest gains for stocks Thursday, as the market's tug of war continues between worries about the worsening pandemic in the present and optimism that a vaccine will rescue the economy in the future.

The S&P 500 rose 0.4% after spending much of the day flipping between small losses and gains. The benchmark index was coming off a 1.2% slide from the day before that pulled it away from its record of 3,626.91 set on Monday. The late-afternoon burst of buying erased nearly all of the S&P 500's losses for the week.

Technology companies accounted for much of the rebound. Companies that rely on consumer spending and communications stocks also helped lift the market, outweighing losses in the utilities and health care sectors. Treasury yields fell, a sign of caution in the market.

The S&P 500 gained 14.08 points to 3,581.87. The Dow Jones Industrial Average added 44.81 points, or 0.2%, to 29,483.23. The index had been down 210 points. The tech-heavy Nasdaq composite climbed 103.11 points, or 0.9%, to 11,904.71.

Small-company stocks had a good showing. The Russell 2000 index picked up 14.82 points, or 0.8%, 1,784.13.

Wall Street’s huge November rally has slowed this week as fears about the economy buckling in the near term collide with hopes that stronger growth will arrive next year once effective coronavirus vaccines become available. A discouraging report on Thursday underscored the fears, showing that more U.S. workers filed for unemployment benefits last week than the week before. It was a worse number than economists expected and the first increase in five weeks.

With infections and hospitalizations on the rise across much of the country, governors and mayors are grudgingly issuing mask mandates, limiting the size of gatherings, banning indoor restaurant dining, closing gyms and restricting the hours and capacity of other businesses.

“Good vaccine news is battling worsening coronavirus trends,” said Ross Mayfield, investment strategist at Baird. “We’re at this point where you have the endgame in sight, but the path to get there looks really murky.”

Investors worry the moves and the worsening pandemic that caused them will hurt corporate profits and shake confidence among consumers, keeping them hunkered at home. New York City’s announcement that it’s halting in-person learning at public schools helped send stocks on their late-day slide Wednesday.

Democrats and Republicans in Washington, meanwhile, are still stymied in their attempts to deliver another dose of financial support to workers and businesses. That has the specter of a bleak winter looming for both the health care system and economy.

Counterbalancing all those fears is hope that coming vaccines can control the pandemic and get the global economy back toward normal next year.

“The market is grappling with the push and pull of the progress with the vaccine track, which allows a window to when our economy can reopen, with the current reality of rising cases,” said Bill Northey, senior investment director at U.S. Bank Wealth Management.

University of Oxford scientists expect to report results from the late-stage trials of the COVID-19 vaccine they're developing with AstraZeneca by Christmas, a key researcher said Thursday.

Already this month, pharmaceutical companies have offered data suggesting other vaccines under development could be highly effective. Pfizer and BioNTech said Wednesday they plan to ask U.S. regulators within days to allow emergency use of their vaccine.

That had led to a resurgence of interest for stocks that stand to gain the most from a healthy, reopening economy. These were also among the stocks most beaten down by the stay-at-home economy created by the pandemic, such as travel-related businesses, banks and smaller companies.

Investors will likely need more clarity on the timing and impact of a vaccine in order to gain more confidence in the economic recovery, Northey said.

“We saw a sharp recovery to date, but now its beginning to plateau,” he said. “We're doing that as we head into a very important holiday shopping season.”

L Brands, the company behind Bath & Body Works and Victoria’s Secret, notched the biggest gain in the S&P 500 Thursday. It vaulted 17.7% after it reported a profit for the latest quarter that blew past Wall Street's expectations.

The yield on the 10-year Treasury dipped to 0.84% from 0.86% late Wednesday.

European stock markets fell, and Asian markets ended mixed.


----------



## bigdog

*Wall Street Slips Amid Worries About Worsening Pandemic*
Stocks ended an up-and-down week on a down note on Wall Street Friday, taking 0.7% off the S&P 500.

Stocks closed broadly lower on Wall Street Friday following another choppy day of trading as worries about the worsening pandemic undercut growing optimism about a coming coronavirus vaccine.

The S&P 500 fell 0.7%, erasing its gains from a day earlier. The benchmark index, which climbed to an all-time high on Monday, posted its first weekly decline after two weeks of gains. The index is still up 8.8% so far this month.

Technology, financial and industrial companies drove much of the selling, which turned volatile in the final hour of regular trading. Treasury yields were mostly lower, a sign of caution in the market. Stock indexes around the world made modest moves.

Traders are balancing cautious optimism that a working coronavirus vaccine will be widely distributed next year against jitters over surging virus cases and the economic impact of new restrictions being put in place across the U.S. on people and businesses to limit the spread.

“It’s a market concerned about growth,” said Quincy Krosby, chief market strategist at Prudential Financial. “That’s the big uncertainty.”

The S&P 500 fell 24.33 points to 3,557.54. The Dow Jones Industrial Average slid 219.75 points, or 0.7%, to 29,263.48. The Nasdaq composite gave up an early gain and dropped 49.74 points, or 0.4%, to 11,854.97.

Small company stocks held up better than the rest of the market. The Russell 2000 small-cap index rose 1.21 points, or 0.1%, to 1,785.34.

Wall Street suddenly began to teeter-totter this week after a big November rally swept both the S&P 500 and Dow to record highs. Evidence is piling up for investors both for hope about the economy’s prospects next year and for fear about the damage accruing in the shorter term.

Adding to the optimistic side of the ledger Friday was Pfizer and BioNTech saying they’ll submit an application with U.S. regulators for emergency use of their vaccine candidate. Data suggests it may be 95% effective at preventing mild to severe COVID-19 disease.

If approved, a limited number of doses could begin being administered as early as next month, though widescale vaccinations likely wouldn’t happen until after a potentially brutal winter. Other vaccines are also under development, and the hope is that one or more could get the economy running closer to normal next year.

On the pessimistic side, more governments around the world are bringing back restrictions on daily life to slow the spread of the virus. Surging coronavirus counts and hospitalizations also threaten to frighten consumers enough to keep them hunkered at home and drag on the economy.

“The market is supposed to be forward-looking, but the reality is it’s hard to look past what’s been going on the past couple of weeks,” said J.J. Kinahan, chief strategist with TD Ameritrade. “The other thing that’s a major concern is people going into lockdowns in major parts of the country. What is that going to be for businesses?”












https://www.usnews.com/news/busines...hares-mixed-amid-tug-of-war-between-hope-fear

*Wall Street Slips Amid Worries About Worsening Pandemic*
Stocks ended an up-and-down week on a down note on Wall Street Friday, taking 0.7% off the S&P 500.
By Associated Press, Wire Service Content Nov. 20, 2020, at 4:56 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks closed broadly lower on Wall Street Friday following another choppy day of trading as worries about the worsening pandemic undercut growing optimism about a coming coronavirus vaccine.

The S&P 500 fell 0.7%, erasing its gains from a day earlier. The benchmark index, which climbed to an all-time high on Monday, posted its first weekly decline after two weeks of gains. The index is still up 8.8% so far this month.

Technology, financial and industrial companies drove much of the selling, which turned volatile in the final hour of regular trading. Treasury yields were mostly lower, a sign of caution in the market. Stock indexes around the world made modest moves.

Traders are balancing cautious optimism that a working coronavirus vaccine will be widely distributed next year against jitters over surging virus cases and the economic impact of new restrictions being put in place across the U.S. on people and businesses to limit the spread.

“It’s a market concerned about growth,” said Quincy Krosby, chief market strategist at Prudential Financial. “That’s the big uncertainty.”

The S&P 500 fell 24.33 points to 3,557.54. The Dow Jones Industrial Average slid 219.75 points, or 0.7%, to 29,263.48. The Nasdaq composite gave up an early gain and dropped 49.74 points, or 0.4%, to 11,854.97.

Small company stocks held up better than the rest of the market. The Russell 2000 small-cap index rose 1.21 points, or 0.1%, to 1,785.34.

Wall Street suddenly began to teeter-totter this week after a big November rally swept both the S&P 500 and Dow to record highs. Evidence is piling up for investors both for hope about the economy’s prospects next year and for fear about the damage accruing in the shorter term.

Adding to the optimistic side of the ledger Friday was Pfizer and BioNTech saying they’ll submit an application with U.S. regulators for emergency use of their vaccine candidate. Data suggests it may be 95% effective at preventing mild to severe COVID-19 disease.

If approved, a limited number of doses could begin being administered as early as next month, though widescale vaccinations likely wouldn’t happen until after a potentially brutal winter. Other vaccines are also under development, and the hope is that one or more could get the economy running closer to normal next year.

On the pessimistic side, more governments around the world are bringing back restrictions on daily life to slow the spread of the virus. Surging coronavirus counts and hospitalizations also threaten to frighten consumers enough to keep them hunkered at home and drag on the economy.

“The market is supposed to be forward-looking, but the reality is it’s hard to look past what’s been going on the past couple of weeks,” said J.J. Kinahan, chief strategist with TD Ameritrade. “The other thing that’s a major concern is people going into lockdowns in major parts of the country. What is that going to be for businesses?”

California’s governor announced late Thursday an overnight curfew on most residents in the state, the Centers for Disease Control and Prevention is asking Americans not to travel for Thanksgiving and authorities from Lisbon to Sri Lanka announced varying degrees of restrictions.

“On the road to the other side of the pandemic are detours and we're in one of those detours,” Krosby said.

The U.S. Treasury Department also said late Thursday that it will not extend several emergency loan programs set up with the Federal Reserve during the worst of the spring’s turmoil to help prop up markets and the economy.

The announcement got some immediate pushback from the Fed, which has been keeping the accelerator floored on its support for the economy while asking politicians in the White House and Congress to do the same. The central bank said it “would prefer that the full suite of emergency facilities” created during the pandemic remain.

But Treasury Secretary Steven Mnuchin said closing the emergency loan programs could allow Congress to re-appropriate $455 billion to other relief programs. Democrats and Republicans in Washington have been deadlocked in efforts to deliver another round of financial support for the economy following the expiration of supplemental benefits for laid-off workers and other stimulus approved during the spring.

The majority of stocks in the S&P 500 fell, with technology companies taking the heaviest losses. Apple dropped 1.1%, while Intuit dropped 3.8%.

Travel-related stocks also fell. Cruise lines were among the biggest decliners. Norwegian Cruise Line slid 4.9% and Carnival fell 4.5%.

On the winning side was Williams-Sonoma, which rose 6.6% after reporting stronger profit and revenue for the latest quarter than analysts expected.

The yield on the 10-year Treasury slipped to 0.83% from 0.84% late Thursday.

European markets closed moderately higher and Asian markets ended mixed.


----------



## bigdog

*ASX 200 poised to rise.*

The Australian share market looks set to start the week on a positive note despite declines on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 34 points or 0.5% higher this morning. On Friday the Dow Jones fell 0.75%, the S&P 500 dropped 0.7%, and the Nasdaq fell 0.4% lower. Rising COVID-19 cases in the United States weighed on investor sentiment.


----------



## bigdog

Stocks Rise on Wall Street on Latest Hopes for Virus Vaccine

Stocks closed higher on Wall Street Monday after investors received several pieces of encouraging news on COVID-19 vaccines and treatments, tempering concerns over rising virus cases and business restrictions.

More encouraging news on the development of coronavirus vaccines and treatments helped power stocks higher on Wall Street Monday, as the market clawed back most of its losses from last week.

The S&P 500 index rose 0.6%, led by banks, energy and industrial companies, sectors that have been beaten down during the pandemic. Health care and technology stocks, which traders have bid up sharply this year, closed lower. Treasury yields mostly rose, another sign of optimism among investors.

The latest vaccine developments are helping to raise hopes that some normalcy will eventually be restored to everyday life and the economy. It is also tempering lingering concerns over rising virus cases in the U.S. and new government restrictions on businesses aimed at limiting the spread.

“Investors continue to embrace and see the optimism in the development of vaccines, providing light at the end of the tunnel and multiple choices on how to get there,” said Adam Taback, chief investment officer for Wells Fargo Private Bank.

The S&P 500 rose 20.05 points to 3,577.59. The benchmark index, which climbed to an all-time high a week ago, recouped nearly three-fourths of its decline from last week. The Dow Jones Industrial Average gained 327.79 points, or 1.1%, to 29,591.27. The technology-heavy Nasdaq composite added 25.66 points, or 0.2%, to 11,880.63.

Roughly 73% of the stocks in the S&P 500 rose. In another signal that investors were feeling confident, the Russell 2000 index of smaller stocks outpaced the broader market, picking up 32.96 points, or 1.8%, to 1,818.30. The yield on the 10-year Treasury rose to 0.86% from 0.81% late Friday.

Many of the companies making gains would greatly benefit from a vaccine allowing people to travel, shop and dine out. Cruise line operator Carnival rose 4.7% and hotel company Marriott International gained 3.2%. JPMorgan Chase rose 2.9%.

“You continue to see some rotation into sectors and securities that have been undervalued and still have some upside potential,” Taback said.

AstraZeneca is the latest drug developer to report surprisingly good results from ongoing vaccine studies. It said the potential vaccine, which is being developed with partner Oxford University, was up to 90% effective. Unlike rival candidates, however, AstraZeneca’s doesn’t have to be stored at ultra-cold temperatures, making it easier to distribute.

Last week, Pfizer and Moderna both reported study results showing their vaccines were almost 95% effective. And, over the weekend, Regeneron Pharmaceuticals received U.S. government approval for emergency use of its COVID-19 treatment. The drug, which President Donald Trump received when he was sickened last month, is meant to try to prevent hospitalization and worsening disease from developing in patients with mild-to-moderate symptoms.

The string of upbeat news about vaccine development has been butting up against increased caution as the virus continues to threaten the economy. That push and pull ultimately sent the S&P 500 to a loss last week. But, in the longer term, any positive updates on the vaccine front should be more dominant for the markets, said David Kelly, chief global strategist at JPMorgan Funds.

“It’s not a question of the vaccine versus the winter wave,” he said. “A reasonable forecast is uncertainty will go down.”

He added that any hesitancy in the market at this point should be centered around the issue of company valuations and how fundamentally sound companies are when more normal economic conditions return.

Energy companies notched among the biggest gains in the S&P 500 as the positive vaccine news stoked optimism about more demand for oil, sending the price of U.S. crude 2.2% higher. Occidental Petroleum led all stocks in the S&P 500, climbing 16.8%.

Even with its weekly decline last week, the S&P 500 is on track for a 9.4% gain this month. Trading is expected to be light this week ahead of the Thanksgiving holiday on Thursday, when U.S. stock markets will be closed. They will reopen on Friday for a half-day session.

European markets ended slightly lower, and Asian markets mostly rose.

*ASX 200 poised to rise.*

It looks set to be another positive day of trade for the Australian share market on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 31 points or 0.5% higher this morning. 

This follows a good start to the week on Wall Street.  The S&P 500 rose 20.05 points to 3,577.59. The benchmark index, which climbed to an all-time high a week ago, recouped nearly three-fourths of its decline from last week. The Dow Jones Industrial Average gained 327.79 points, or 1.1%, to 29,591.27. The technology-heavy Nasdaq composite added 25.66 points, or 0.2%, to 11,880.63.











https://www.usnews.com/news/busines...se-ahead-of-us-economic-data-amid-virus-fears

*Stocks Rise on Wall Street on Latest Hopes for Virus Vaccine*
Stocks closed higher on Wall Street Monday after investors received several pieces of encouraging news on COVID-19 vaccines and treatments, tempering concerns over rising virus cases and business restrictions.
By Associated Press, Wire Service Content Nov. 23, 2020, at 4:44 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

More encouraging news on the development of coronavirus vaccines and treatments helped power stocks higher on Wall Street Monday, as the market clawed back most of its losses from last week.

The S&P 500 index rose 0.6%, led by banks, energy and industrial companies, sectors that have been beaten down during the pandemic. Health care and technology stocks, which traders have bid up sharply this year, closed lower. Treasury yields mostly rose, another sign of optimism among investors.

The latest vaccine developments are helping to raise hopes that some normalcy will eventually be restored to everyday life and the economy. It is also tempering lingering concerns over rising virus cases in the U.S. and new government restrictions on businesses aimed at limiting the spread.

“Investors continue to embrace and see the optimism in the development of vaccines, providing light at the end of the tunnel and multiple choices on how to get there,” said Adam Taback, chief investment officer for Wells Fargo Private Bank.

The S&P 500 rose 20.05 points to 3,577.59. The benchmark index, which climbed to an all-time high a week ago, recouped nearly three-fourths of its decline from last week. The Dow Jones Industrial Average gained 327.79 points, or 1.1%, to 29,591.27. The technology-heavy Nasdaq composite added 25.66 points, or 0.2%, to 11,880.63.

Roughly 73% of the stocks in the S&P 500 rose. In another signal that investors were feeling confident, the Russell 2000 index of smaller stocks outpaced the broader market, picking up 32.96 points, or 1.8%, to 1,818.30. The yield on the 10-year Treasury rose to 0.86% from 0.81% late Friday.

Many of the companies making gains would greatly benefit from a vaccine allowing people to travel, shop and dine out. Cruise line operator Carnival rose 4.7% and hotel company Marriott International gained 3.2%. JPMorgan Chase rose 2.9%.

“You continue to see some rotation into sectors and securities that have been undervalued and still have some upside potential,” Taback said.

AstraZeneca is the latest drug developer to report surprisingly good results from ongoing vaccine studies. It said the potential vaccine, which is being developed with partner Oxford University, was up to 90% effective. Unlike rival candidates, however, AstraZeneca’s doesn’t have to be stored at ultra-cold temperatures, making it easier to distribute.

Last week, Pfizer and Moderna both reported study results showing their vaccines were almost 95% effective. And, over the weekend, Regeneron Pharmaceuticals received U.S. government approval for emergency use of its COVID-19 treatment. The drug, which President Donald Trump received when he was sickened last month, is meant to try to prevent hospitalization and worsening disease from developing in patients with mild-to-moderate symptoms.

The string of upbeat news about vaccine development has been butting up against increased caution as the virus continues to threaten the economy. That push and pull ultimately sent the S&P 500 to a loss last week. But, in the longer term, any positive updates on the vaccine front should be more dominant for the markets, said David Kelly, chief global strategist at JPMorgan Funds.

“It’s not a question of the vaccine versus the winter wave,” he said. “A reasonable forecast is uncertainty will go down.”

He added that any hesitancy in the market at this point should be centered around the issue of company valuations and how fundamentally sound companies are when more normal economic conditions return.

Energy companies notched among the biggest gains in the S&P 500 as the positive vaccine news stoked optimism about more demand for oil, sending the price of U.S. crude 2.2% higher. Occidental Petroleum led all stocks in the S&P 500, climbing 16.8%.

Even with its weekly decline last week, the S&P 500 is on track for a 9.4% gain this month. Trading is expected to be light this week ahead of the Thanksgiving holiday on Thursday, when U.S. stock markets will be closed. They will reopen on Friday for a half-day session.

European markets ended slightly lower, and Asian markets mostly rose.


----------



## bigdog

*Dow Crests 30,000 Points on Vaccine Hopes, Biden Transition*

The Dow Jones Industrial Average broke through 30,000 points Tuesday as investors were encouraged by the latest progress on developing coronavirus vaccines and news that the transition of power to President-elect Joe Biden will finally begin.

The Dow Jones Industrial Average closed above 30,000 points for the first time Tuesday as progress in the development of coronavirus vaccines and news that the transition of power in the U.S. to President-elect Joe Biden will finally begin kept investors in a buying mood.

Traders were also encouraged to see that Biden had selected Janet Yellen, a widely respected former Federal Reserve chair, as treasury secretary. The Dow rose more than 450 points, or 1.5%, to cross the milestone. The S&P 500 index, which has a far greater impact on 401(k) accounts than the Dow, rose 1.6%, climbing to its own all-time high.

The gains extend a month long market rally driven by growing optimism that development of coronavirus vaccines and treatments will loosen the pandemic's stranglehold on the economy. They also mark a rapid climb for the Dow from its March 23 low of just under 18,600 during the worst of its early pandemic nosedive.

“We are one step closer to moving past the election uncertainty,” said Lindsey Bell, chief investment strategist at Ally Invest. “People are still optimistic about what 2021 has to bring, from an economic perspective and an earnings perspective.”

The S&P 500 rose 57.82 points to 3,635.41. The Dow gained 454.97 points to 30,046.24. Both indexes eclipsed record highs set early last week. The technology-heavy Nasdaq composite picked up 156.15 points, or 1.3%, to 12,036.79.

Traders continued to favor stocks that stand to gain the most from a gradual reopening of the economy, such as banks and industrial companies. Technology and communication stocks, which have been investor favorites through the pandemic, also helped lift the market.

In another signal that investors were feeling confident, the Russell 2000 index of smaller stocks outpaced the broader market, picking up 35.23 points, or 1.9%, to 1,853.53, also a record high.

“There’s some relief that Biden is choosing moderates to fill out the cabinet,” said Barry Bannister, head of institutional equity strategy at Stifel. Bannister also said the encouraging vaccine news continues to give hope that there is an end in sight to the pandemic.

On Monday, the head of the federal General Services Administration acknowledged that Biden is the apparent winner of this month’s presidential election. That allows the incoming president to coordinate with federal agencies on plans for taking over on Jan. 20, despite ongoing efforts by President Donald Trump to overturn the election.

Word that Biden has chosen Yellen as treasury secretary also added to investors' confidence. Widely admired in the financial world, Yellen would be the first woman to lead the department in a line stretching back to Alexander Hamilton in 1789, taking on a pivotal role to help shape policies at a perilous time.

“She's also pretty pro-fiscal stimulus and she's able to effectively work with people across the aisle,” Bell said. “She showed that in her time at the Fed.”

Stocks have been pushing higher this month, driving the S&P 500 up by more than 11%, as investors have grown more hopeful that the development of coronavirus vaccines and treatments will help pave the way for the economy to recover next year.

On Monday, drugmaker AstraZeneca reported surprisingly good results from ongoing vaccine studies. It said its potential vaccine, which is being developed with Oxford University, was up to 90% effective. Unlike rival candidates, AstraZeneca’s doesn’t have to be stored at ultra-cold temperatures, making it easier to distribute.

Last week, Pfizer and Moderna both reported study results showing their vaccines were almost 95% effective. And, over the weekend, Regeneron Pharmaceuticals received U.S. government approval for emergency use of its COVID-19 treatment. The drug, which Trump received when he was sickened last month, is meant to try to prevent hospitalization and worsening disease from developing in patients with mild-to-moderate symptoms.

*ASX 200 expected to rise again.*

The Australian share market is expected to continue its rise on Wednesday. According to the latest SPI futures, the ASX 200 is expected to rise 37 points or 0.55% at the open. This follows a very positive night of trade on Wall Street which in late trades sees the Dow Jones up 1.54%, the S&P 500 jump 1.62%, and the Nasdaq rise 1.31%. The Dow Jones broke through the 30,000 points mark for the first time.











https://www.usnews.com/news/busines...res-mostly-rise-on-virus-vaccine-yellen-hopes

*Dow Crests 30,000 Points on Vaccine Hopes, Biden Transition*

The Dow Jones Industrial Average broke through 30,000 points Tuesday as investors were encouraged by the latest progress on developing coronavirus vaccines and news that the transition of power to President-elect Joe Biden will finally begin.
By Associated Press, Wire Service Content Nov. 24, 2020, at 4:40 p.m.

By ALEX VEIGA and DAMIAN J. TROISE, AP Business Writers

The Dow Jones Industrial Average closed above 30,000 points for the first time Tuesday as progress in the development of coronavirus vaccines and news that the transition of power in the U.S. to President-elect Joe Biden will finally begin kept investors in a buying mood.

Traders were also encouraged to see that Biden had selected Janet Yellen, a widely respected former Federal Reserve chair, as treasury secretary. The Dow rose more than 450 points, or 1.5%, to cross the milestone. The S&P 500 index, which has a far greater impact on 401(k) accounts than the Dow, rose 1.6%, climbing to its own all-time high.

The gains extend a month long market rally driven by growing optimism that development of coronavirus vaccines and treatments will loosen the pandemic's stranglehold on the economy. They also mark a rapid climb for the Dow from its March 23 low of just under 18,600 during the worst of its early pandemic nosedive.

“We are one step closer to moving past the election uncertainty,” said Lindsey Bell, chief investment strategist at Ally Invest. “People are still optimistic about what 2021 has to bring, from an economic perspective and an earnings perspective.”

The S&P 500 rose 57.82 points to 3,635.41. The Dow gained 454.97 points to 30,046.24. Both indexes eclipsed record highs set early last week. The technology-heavy Nasdaq composite picked up 156.15 points, or 1.3%, to 12,036.79.

Traders continued to favor stocks that stand to gain the most from a gradual reopening of the economy, such as banks and industrial companies. Technology and communication stocks, which have been investor favorites through the pandemic, also helped lift the market.

In another signal that investors were feeling confident, the Russell 2000 index of smaller stocks outpaced the broader market, picking up 35.23 points, or 1.9%, to 1,853.53, also a record high.

“There’s some relief that Biden is choosing moderates to fill out the cabinet,” said Barry Bannister, head of institutional equity strategy at Stifel. Bannister also said the encouraging vaccine news continues to give hope that there is an end in sight to the pandemic.

On Monday, the head of the federal General Services Administration acknowledged that Biden is the apparent winner of this month’s presidential election. That allows the incoming president to coordinate with federal agencies on plans for taking over on Jan. 20, despite ongoing efforts by President Donald Trump to overturn the election.

Word that Biden has chosen Yellen as treasury secretary also added to investors' confidence. Widely admired in the financial world, Yellen would be the first woman to lead the department in a line stretching back to Alexander Hamilton in 1789, taking on a pivotal role to help shape policies at a perilous time.

“She's also pretty pro-fiscal stimulus and she's able to effectively work with people across the aisle,” Bell said. “She showed that in her time at the Fed.”

Stocks have been pushing higher this month, driving the S&P 500 up by more than 11%, as investors have grown more hopeful that the development of coronavirus vaccines and treatments will help pave the way for the economy to recover next year.

On Monday, drugmaker AstraZeneca reported surprisingly good results from ongoing vaccine studies. It said its potential vaccine, which is being developed with Oxford University, was up to 90% effective. Unlike rival candidates, AstraZeneca’s doesn’t have to be stored at ultra-cold temperatures, making it easier to distribute.

Last week, Pfizer and Moderna both reported study results showing their vaccines were almost 95% effective. And, over the weekend, Regeneron Pharmaceuticals received U.S. government approval for emergency use of its COVID-19 treatment. The drug, which Trump received when he was sickened last month, is meant to try to prevent hospitalization and worsening disease from developing in patients with mild-to-moderate symptoms.

The vaccine developments are tempering lingering concerns over rising virus cases in the U.S., as well as in Asia and other parts of the world, and new government restrictions on businesses aimed at limiting the spread.

Treasury yields rose as investors became more optimistic about the prospects for economic growth. The yield on the benchmark 10-year Treasury note rose to 0.88% from 0.84% late Monday.

U.S. markets will be closed Thursday for the Thanksgiving holiday. They will be open for half the day on Friday, closing at 1 p.m. Eastern.

European markets ended broadly higher, while Asian markets closed mixed.


----------



## bigdog

*Stocks mostly fall, even as tech gains push Nasdaq to record*

Stocks gave back some of their recent gains Wednesday as a batch of discouraging economic data prompted investors to take a pause a day after the market’s record-setting climb.

The S&P 500 dropped 0.2% a day after setting an all-time high. The Dow Jones Industrial Average slipped below 30,000, a day after crossing that milestone for the first time. Industrial, energy and health care companies accounted for much of the decline. Technology companies rose, driving the Nasdaq composite to a record high.

The selling followed reports showing the number of Americans seeking unemployment aid jumped last week to the highest level in more than a month. A separate report showed consumer spending posted the weakest gain since April.

Despite the pullback, Wall Street closed up shop for the Thanksgiving holiday with the benchmark S&P 500 is still up 11% this month.

“The market overall has reached by most standards what we call overbought conditions, and that typically suggests that the market would need to digest the gains, perhaps pause a bit, and consolidate,” said Quincy Krosby, chief market strategist at Prudential Financial.

The S&P 500 fell 5.76 points to 3,629.65. The Dow gave up 173.77 points, or 0.6%, to 29,872.47. The tech-heavy Nasdaq gained 57.62 points, or 0.5%, to 12,094.40. The index, which is on a three-day winning streak, last hit an all-time high on Sept. 2. The Russell 2000 index of smaller companies fell 8.51 points, or 0.5%, to 1,845.02.

Stocks have been pushing higher this month as investors have grown more hopeful that the development of coronavirus vaccines and treatments will help pave the way for the economy to recover next year.

This week, traders have also been encouraged by signs that the transition of power in the U.S. to President-elect Joe Biden has begun. Wall Street is also welcoming Biden’s selection of former Fed chair Janet Yellen as treasury secretary.

Encouraging study results this month from drugmakers working on coronavirus vaccines and treatments have tempered lingering concerns over rising virus cases in the U.S., as well as in Asia and other parts of the world, and new government restrictions on businesses aimed at limiting the spread.

*U.S. markets will be closed Thursday for the Thanksgiving holiday. They will be open for half the day on Friday, closing at 1 p.m. Eastern.*

*ASX 200 expected to edge higher.*

The Australian share market is expected to edge higher this morning. According to the latest SPI futures, the ASX 200 is poised to rise 10 points or 0.15% at the open. This is despite it being a mixed night of trade on Wall Street. Dow Jones is down 0.58%, the S&P 500 is down 0.16%, and the Nasdaq is up 0.48%.














https://apnews.com/article/joe-bide...markets-asia-0581fae0c57195d91a27edab5d19a82e

*Stocks mostly fall, even as tech gains push Nasdaq to record*
By ALEX VEIGA and DAMIAN J. TROISE

Stocks gave back some of their recent gains Wednesday as a batch of discouraging economic data prompted investors to take a pause a day after the market’s record-setting climb.

The S&P 500 dropped 0.2% a day after setting an all-time high. The Dow Jones Industrial Average slipped below 30,000, a day after crossing that milestone for the first time. Industrial, energy and health care companies accounted for much of the decline. Technology companies rose, driving the Nasdaq composite to a record high.

The selling followed reports showing the number of Americans seeking unemployment aid jumped last week to the highest level in more than a month. A separate report showed consumer spending posted the weakest gain since April.

Despite the pullback, Wall Street closed up shop for the Thanksgiving holiday with the benchmark S&P 500 is still up 11% this month.

“The market overall has reached by most standards what we call overbought conditions, and that typically suggests that the market would need to digest the gains, perhaps pause a bit, and consolidate,” said Quincy Krosby, chief market strategist at Prudential Financial.

The S&P 500 fell 5.76 points to 3,629.65. The Dow gave up 173.77 points, or 0.6%, to 29,872.47. The tech-heavy Nasdaq gained 57.62 points, or 0.5%, to 12,094.40. The index, which is on a three-day winning streak, last hit an all-time high on Sept. 2. The Russell 2000 index of smaller companies fell 8.51 points, or 0.5%, to 1,845.02.

Stocks have been pushing higher this month as investors have grown more hopeful that the development of coronavirus vaccines and treatments will help pave the way for the economy to recover next year.

This week, traders have also been encouraged by signs that the transition of power in the U.S. to President-elect Joe Biden has begun. Wall Street is also welcoming Biden’s selection of former Fed chair Janet Yellen as treasury secretary.

Encouraging study results this month from drugmakers working on coronavirus vaccines and treatments have tempered lingering concerns over rising virus cases in the U.S., as well as in Asia and other parts of the world, and new government restrictions on businesses aimed at limiting the spread.

“The general themes are still intact, the hope for a vaccine that will herald a return to normalcy at some point in 2021,” said Greg McBride, chief financial analyst at Bankrate.com.

Still, signs that the pandemic continues to weigh on the economy remain in the forefront. On Wednesday, the government said the number of Americans applying for unemployment benefits rose last week to 778,000, the highest level in five weeks.

Other data painted a similarly discouraging economic picture. The Commerce Department said U.S. consumer spending, the primary driver of the economy, rose by a sluggish 0.5% in October, the weakest gain since April when the pandemic first erupted. At the same time, the government said that income, which provides the fuel for consumer spending, fell 0.7% in October.

Though financial markets continue making gains, hardship from the economic slump is still growing, McBride said, and both small businesses and consumers are “sorely in need” of additional financial stimulus.

The downbeat economic reports spurred the rally in technology stocks, which traders have consistently bet on this year. Big Tech names like Apple, Microsoft and Amazon have been favored because the companies tend to have strong balance sheets and are expected to continue doing well once the pandemic subsides.

“This is a recurring theme in the market whenever there’s a concern about growth expectations,” Krosby said.

Treasury yields were mixed after mostly moving lower in the early going, a sign of caution in the market. The yield on the benchmark 10-year Treasury rose to 0.88% from 0.87% late Tuesday.

Gap led the way lower in the S&P 500, falling 19.6%, after the clothing retailer’s third-quarter results fell short of Wall Street’s forecasts.

Nordstrom jumped 11.6% after the department store chain’s earnings improved in the third quarter, even as sales missed analysts’ forecasts.

Traders bid HP shares 2.3% higher after the company delivered a solid quarterly report card.

U.S. markets will be closed Thursday for the Thanksgiving holiday. They will be open for half the day on Friday, closing at 1 p.m. Eastern.


----------



## bigdog

*Global shares were subdued as trading activity was reduced as U.S. markets remained closed for the Thanksgiving holiday.*

Global stock markets were subdued on Thursday after significant gains in recent days and as U.S. trading remained closed for the Thanksgiving holiday.

Investors have been in an upbeat mood this week, pushing the Dow above 30,000 for the first time, on news of the development of coronavirus vaccines and treatments.

They then became more cautious as coronavirus infection rates remain high in many major economies and after the release of a batch of discouraging U.S. economic data, including jobless numbers.

Germany’s DAX ended the day flat at 13,286 while France’s CAC 40 dipped about 0.1% to 5,566. Britain’s FTSE 100 slipped 0.6% to 6,362.

U.S. markets will be closed Thursday and open for half the day on Friday.

In Asia, Japan's benchmark Nikkei 225 gained 0.9% to finish at 26,537.31, the highest level for the index since the collapse of the Japanese “bubble economy” nearly three decades ago.

Australia's S&P/ASX 200 slipped 0.7% to 6,636.40, but South Korea's Kospi edged up 0.9% to 2,625.91. Hong Kong's Hang Seng rose 0.6% to 26,819.45, while the Shanghai Composite was up 0.2% at 3,369.73.

Cases of COVID-19 continue to soar around the world, and deaths related to the sickness are growing, hitting more than 1.4 million people cumulatively worldwide. Worries are growing about it spreading during the Thanksgiving holiday in the U.S.

In Japan, authorities asked restaurants and bars to close early, and people to refrain from travel. European governments are looking to ease existing restrictions ahead of Christmas, though many limits on business are expected to continue.


*U.S. markets closed Thursday for the Thanksgiving holiday  and open for half the day on Friday, closing at 1 p.m. Eastern. *





*REST OF WORLD TRADING*










https://www.usnews.com/news/busines...xed-after-wall-street-takes-pause-on-optimism

*World Markets Subdued as US Trading Shut for Thanksgiving*
*Global shares were subdued as trading activity was reduced as U.S. markets remained closed for the Thanksgiving holiday.*
By Associated Press, Wire Service Content Nov. 26, 2020,

By YURI KAGEYAMA, AP Business Writer

TOKYO (AP) — Global stock markets were subdued on Thursday after significant gains in recent days and as U.S. trading remained closed for the Thanksgiving holiday.

Investors have been in an upbeat mood this week, pushing the Dow above 30,000 for the first time, on news of the development of coronavirus vaccines and treatments.

They then became more cautious as coronavirus infection rates remain high in many major economies and after the release of a batch of discouraging U.S. economic data, including jobless numbers.

Germany’s DAX ended the day flat at 13,286 while France’s CAC 40 dipped about 0.1% to 5,566. Britain’s FTSE 100 slipped 0.6% to 6,362.

U.S. markets will be closed Thursday and open for half the day on Friday.

In Asia, Japan's benchmark Nikkei 225 gained 0.9% to finish at 26,537.31, the highest level for the index since the collapse of the Japanese “bubble economy” nearly three decades ago.

Australia's S&P/ASX 200 slipped 0.7% to 6,636.40, but South Korea's Kospi edged up 0.9% to 2,625.91. Hong Kong's Hang Seng rose 0.6% to 26,819.45, while the Shanghai Composite was up 0.2% at 3,369.73.

Cases of COVID-19 continue to soar around the world, and deaths related to the sickness are growing, hitting more than 1.4 million people cumulatively worldwide. Worries are growing about it spreading during the Thanksgiving holiday in the U.S.

In Japan, authorities asked restaurants and bars to close early, and people to refrain from travel. European governments are looking to ease existing restrictions ahead of Christmas, though many limits on business are expected to continue.

Economic data has been mixed this week, with reports showing the number of Americans seeking unemployment aid jumped last week to the highest level in more than a month. A separate report showed consumer spending posted the weakest gain since April.

“The market overall has reached by most standards what we call overbought conditions, and that typically suggests that the market would need to digest the gains, perhaps pause a bit, and consolidate," said Quincy Krosby, chief market strategist at Prudential Financial.

The Commerce Department said U.S. consumer spending, the primary driver of the economy, rose by a sluggish 0.5% in October, the weakest gain since April when the pandemic first erupted. At the same time, the government said that income, which provides the fuel for consumer spending, fell 0.7% in October.

In energy trading, benchmark U.S. crude shed 56 cents to $45.15 a barrel. Brent crude, the international standard, fell 61 cents to $47.92 a barrel.

The dollar inched down to 104.25 yen from 104.50 yen. The euro cost $1.1906, up from $1.1885.


----------



## bigdog

The S&P 500 rose to a record high Friday as investors continue to look forward to the distribution of a COVID-19 vaccine and relief for the global economy.

The benchmark index rose 8.70 points, or 0.2%, led by gains in technology companies, and closed at an all-time high of 3,638.35. The Nasdaq also closed at a record helped by gains in Apple, Tesla, Zoom and other tech companies.

Positive developments on the vaccine front have driven double-digit gains in the major indexes this month as investors look forward to progress in gaining control over the pandemic that plunged the global economy into its deepest slump since the 1930s. That optimism persisted this week even as one vaccine candidate suffered a setback and cases of coronavirus remain at elevated levels.

Meanwhile, retailers were hoping that their slumping sales get a boost from shoppers on Black Friday but early indications are that store traffic was light.

The Dow Jones Industrial Average, which earlier this week crossed 30,000 for the first time, rose 37.90 points, or 0.1%, to 29,910.37. The Nasdaq gained 111.44, or 0.9%, to 12,205.85.

U.S. markets closed at 1 p.m. Eastern after being shut for the Thanksgiving holiday.

Health care companies also posted solid gains. Moderna jumped 16.4% and Pfizer rose 1.9%. The two companies earlier this month released results showing their COVID-19 vaccine candidates were highly effective in tests. The shares got a boost Friday after a competing vaccine suffered a setback.

The University of Oxford and AstraZeneca also this week released positive test results about their vaccine. But researchers have questioned how Oxford and AstraZeneca calculated the effectiveness of their vaccine. The AstraZeneca CEO said the company might conduct another trial. AstraZeneca shares were flat.

Still, hopes for a vaccine have offset concerns about spiking coronavirus cases in the U.S. and other parts of the world. U.S. states and European governments are re-imposing controls on business and travel as infection rates surge.

The disease has killed more than 1.4 million people worldwide and there are 61 million confirmed cases, according to data gathered by Johns Hopkins University.

The pandemic has brought significant changes to the traditional Black Friday shopping holiday. Many retailers are beefing up their safety protocols, moving their doorbuster deals online and curbside pickup options as a last grasp at sales before the year ends.

Retailers need a boost from Black Friday and holiday shopping altogether to try and recoup sales lost to the pandemic. Early indications are that people are staying home and choosing to do any shopping online.

Macy's shares fell 1.4% while shares of Walmart showed a slight decline. Shares of the online marketplace Etsy, meanwhile, rose 10.7%.

Tech shares have led the market's climb back from its plunge in March as investors bet giants such as Apple and Microsoft will keep raking in the profits whether Americans are forced to stay home or the economy begins to return to something resembling normalcy. Apple rose 0.5%.

Tesla rose 2.1% and Zoom Video Communications gained 6.3%. The two stocks have been market darlings so far this year with gains of 600% or more.

European markets rose. Germany's DAX gained 0.4% and the CAC 40 in France rose 0.6%. Asia markets also rose Friday. The Hang Seng index in Hong Kong gained 0.8%.











https://www.usnews.com/news/busines...s-mixed-amid-unease-about-vaccine-development

*Stocks Rise on Wall Street as S&P 500 Hits Record High*
The S&P 500 is closing a shortened session at a record high Friday as investors continue to look forward to the distribution of a COVID-19 vaccine and relief for the economy.
By Associated Press, Wire Service Content Nov. 27, 2020, at 2:09 p.m.

By The Associated Press

NEW YORK (AP) — The S&P 500 rose to a record high Friday as investors continue to look forward to the distribution of a COVID-19 vaccine and relief for the global economy.

The benchmark index rose 8.70 points, or 0.2%, led by gains in technology companies, and closed at an all-time high of 3,638.35. The Nasdaq also closed at a record helped by gains in Apple, Tesla, Zoom and other tech companies.

Positive developments on the vaccine front have driven double-digit gains in the major indexes this month as investors look forward to progress in gaining control over the pandemic that plunged the global economy into its deepest slump since the 1930s. That optimism persisted this week even as one vaccine candidate suffered a setback and cases of coronavirus remain at elevated levels.

Meanwhile, retailers were hoping that their slumping sales get a boost from shoppers on Black Friday but early indications are that store traffic was light.

The Dow Jones Industrial Average, which earlier this week crossed 30,000 for the first time, rose 37.90 points, or 0.1%, to 29,910.37. The Nasdaq gained 111.44, or 0.9%, to 12,205.85.

U.S. markets closed at 1 p.m. Eastern after being shut for the Thanksgiving holiday.

Health care companies also posted solid gains. Moderna jumped 16.4% and Pfizer rose 1.9%. The two companies earlier this month released results showing their COVID-19 vaccine candidates were highly effective in tests. The shares got a boost Friday after a competing vaccine suffered a setback.

The University of Oxford and AstraZeneca also this week released positive test results about their vaccine. But researchers have questioned how Oxford and AstraZeneca calculated the effectiveness of their vaccine. The AstraZeneca CEO said the company might conduct another trial. AstraZeneca shares were flat.

Still, hopes for a vaccine have offset concerns about spiking coronavirus cases in the U.S. and other parts of the world. U.S. states and European governments are re-imposing controls on business and travel as infection rates surge.

The disease has killed more than 1.4 million people worldwide and there are 61 million confirmed cases, according to data gathered by Johns Hopkins University.

The pandemic has brought significant changes to the traditional Black Friday shopping holiday. Many retailers are beefing up their safety protocols, moving their doorbuster deals online and curbside pickup options as a last grasp at sales before the year ends.

Retailers need a boost from Black Friday and holiday shopping altogether to try and recoup sales lost to the pandemic. Early indications are that people are staying home and choosing to do any shopping online.

Macy's shares fell 1.4% while shares of Walmart showed a slight decline. Shares of the online marketplace Etsy, meanwhile, rose 10.7%.

Tech shares have led the market's climb back from its plunge in March as investors bet giants such as Apple and Microsoft will keep raking in the profits whether Americans are forced to stay home or the economy begins to return to something resembling normalcy. Apple rose 0.5%.

Tesla rose 2.1% and Zoom Video Communications gained 6.3%. The two stocks have been market darlings so far this year with gains of 600% or more.

European markets rose. Germany's DAX gained 0.4% and the CAC 40 in France rose 0.6%. Asia markets also rose Friday. The Hang Seng index in Hong Kong gained 0.8%.

The yield on the 10-year Treasury slipped to 0.84% from 0.87% Wednesday.


----------



## bigdog

*ASX 200 futures pointing higher.*

The Australian share market looks set to start the week on a very positive note. According to the latest SPI futures, the ASX 200 is expected to rise 39 points at the open tomorrow. This follows a solid end to the week on Wall Street on Friday, which saw the Dow Jones rise 0.1%, the S&P 500 climb 0.25%, and the Nasdaq jump 0.9%.


----------



## bigdog

*Stocks Slip, but S&P 500 Still Logs Best Month Since April*

Stocks pulled back slightly from their record levels Monday as Wall Street put a quiet coda on one of its most rocking months in decades.

Stocks pulled back slightly from their record levels Monday as Wall Street put a quiet coda on one of its most rocking months in decades.

The S&P 500 fell 0.5%, but the benchmark index still clocked a surge of 10.8% for the month, it's biggest monthly gain since April. The Dow Jones Industrial Average, which has far less impact on 401(k) accounts than the S&P 500 does, had its best month since 1987.

The market's slide followed reports showing how the worsening pandemic is dragging down the economy in the near term. But most investors are looking beyond that. The market's strong November gains reflect Wall Street latching on to hopes that the economy will get closer to normal next year and strengthen in the long term. That scenario hinges largely on promising coronavirus vaccines being rolled out in coming weeks and, eventually, leading to fewer new virus cases, which have been increasing.

“Today’s pullback in equities is a sidestep in a market that seems poised to trend higher,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. “We still think the market trends higher into the new year.”

The S&P 500 lost 16.72 points to 3,621.63. The Dow fell 271.73 points, or 0.9%, to 29,638.64. The Nasdaq composite slipped 7.11 points, or 0.1%, to 12,198.74. The S&P 500 and Dow are close to their record levels, and the Dow crested the 30,000 level last week for the first time.

Several big forces are behind this month's surge, beginning with the clearing of some of the uncertainty that had dogged markets leading into the U.S. elections. Now, Democrat Joe Biden is firmly in place as the president-elect in Wall Street’s eyes, and investors have avoided their worst-case scenario of weeks or months of limbo with an unknown winner.

Investors also found encouragement in prospects that Washington will remain under divided political control. Republicans are on track to hold onto control of the Senate if they can win one of two upcoming runoff elections in Georgia. A split government would mean low tax rates and other pro-business policies could remain the status quo.

But the turbocharger for the market’s move higher has been a huge dose of hope as pharmaceutical companies come closer to delivering vaccines to a world beaten down by the COVID-19 pandemic. Several have reported encouraging data recently suggesting their vaccine candidates are highly effective.

Moderna said it would ask U.S. and European regulators Monday to allow emergency use of its COVID-19 vaccine. Its shares jumped 20.2% Monday.

Moderna follows Pfizer and German partner BioNTech in seeking to begin vaccinations in the U.S. in December. British regulators also are assessing the Pfizer shot and another from AstraZeneca.

That’s helped the stock market’s rally broaden out. Early in Wall Street's recovery this spring, it was Big Tech that almost singlehandedly carried the market higher on expectations that work-from-home and other trends would mean bigger profits for them. But hopes for a more widespread economic recovery are now boosting stocks of companies whose profits are more closely tied to the economy’s strength.

Energy stocks in the S&P 500 ended November with a nearly 27% gain. It’s a sharp turnaround from earlier this year, when oil prices plunged as the pandemic kept airplanes, trucks and factories around the world idled or slowed.

Financial stocks have also been big winners on expectations that a stronger economy will create a stronger job market and higher interest rates. That could mean more people paying back loans made at more profitable rates for banks. The smaller stocks in the Russell 2000 index, meanwhile, closed out November with an 18.3% surge. The index fell 35.45 points, or 1.9%, to 1,819.82 Monday.

Many of those stocks, though, gave back some of their big gains Monday following discouraging economic reports and as investors locked in some profits from their big recent gains. Apache lost 7.4% and American Airlines fell 2.7%.

Many of the gains in November were justified by the good news from vaccine development, but markets will likely see more churning ahead, said Katie Nixon, chief investment officer at Northern Trust Wealth Management.


*ASX 200 expected to edge lower.*

The Australian share market looks set to start the month in a subdued manner. According to the latest SPI futures, the ASX 200 is expected to open the day 5 points lower this morning. This follows a poor start to the week on Wall Street, which close saw the Dow Jones down 0.91%, the S&P 500 down 0.46%, and the Nasdaq down 0.06%.











https://www.usnews.com/news/busines...es-mixed-despite-fresh-records-on-wall-street

*Stocks Slip, but S&P 500 Still Logs Best Month Since April*
Stocks pulled back slightly from their record levels Monday as Wall Street put a quiet coda on one of its most rocking months in decades.
By Associated Press, Wire Service Content Nov. 30, 2020, at 4:48 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks pulled back slightly from their record levels Monday as Wall Street put a quiet coda on one of its most rocking months in decades.

The S&P 500 fell 0.5%, but the benchmark index still clocked a surge of 10.8% for the month, it's biggest monthly gain since April. The Dow Jones Industrial Average, which has far less impact on 401(k) accounts than the S&P 500 does, had its best month since 1987.

The market's slide followed reports showing how the worsening pandemic is dragging down the economy in the near term. But most investors are looking beyond that. The market's strong November gains reflect Wall Street latching on to hopes that the economy will get closer to normal next year and strengthen in the long term. That scenario hinges largely on promising coronavirus vaccines being rolled out in coming weeks and, eventually, leading to fewer new virus cases, which have been increasing.

“Today’s pullback in equities is a sidestep in a market that seems poised to trend higher,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. “We still think the market trends higher into the new year.”

The S&P 500 lost 16.72 points to 3,621.63. The Dow fell 271.73 points, or 0.9%, to 29,638.64. The Nasdaq composite slipped 7.11 points, or 0.1%, to 12,198.74. The S&P 500 and Dow are close to their record levels, and the Dow crested the 30,000 level last week for the first time.

Several big forces are behind this month's surge, beginning with the clearing of some of the uncertainty that had dogged markets leading into the U.S. elections. Now, Democrat Joe Biden is firmly in place as the president-elect in Wall Street’s eyes, and investors have avoided their worst-case scenario of weeks or months of limbo with an unknown winner.

Investors also found encouragement in prospects that Washington will remain under divided political control. Republicans are on track to hold onto control of the Senate if they can win one of two upcoming runoff elections in Georgia. A split government would mean low tax rates and other pro-business policies could remain the status quo.

But the turbocharger for the market’s move higher has been a huge dose of hope as pharmaceutical companies come closer to delivering vaccines to a world beaten down by the COVID-19 pandemic. Several have reported encouraging data recently suggesting their vaccine candidates are highly effective.

Moderna said it would ask U.S. and European regulators Monday to allow emergency use of its COVID-19 vaccine. Its shares jumped 20.2% Monday.

Moderna follows Pfizer and German partner BioNTech in seeking to begin vaccinations in the U.S. in December. British regulators also are assessing the Pfizer shot and another from AstraZeneca.

That’s helped the stock market’s rally broaden out. Early in Wall Street's recovery this spring, it was Big Tech that almost singlehandedly carried the market higher on expectations that work-from-home and other trends would mean bigger profits for them. But hopes for a more widespread economic recovery are now boosting stocks of companies whose profits are more closely tied to the economy’s strength.

Energy stocks in the S&P 500 ended November with a nearly 27% gain. It’s a sharp turnaround from earlier this year, when oil prices plunged as the pandemic kept airplanes, trucks and factories around the world idled or slowed.

Financial stocks have also been big winners on expectations that a stronger economy will create a stronger job market and higher interest rates. That could mean more people paying back loans made at more profitable rates for banks. The smaller stocks in the Russell 2000 index, meanwhile, closed out November with an 18.3% surge. The index fell 35.45 points, or 1.9%, to 1,819.82 Monday.

Many of those stocks, though, gave back some of their big gains Monday following discouraging economic reports and as investors locked in some profits from their big recent gains. Apache lost 7.4% and American Airlines fell 2.7%.

Many of the gains in November were justified by the good news from vaccine development, but markets will likely see more churning ahead, said Katie Nixon, chief investment officer at Northern Trust Wealth Management.

“You'll see a diminishing impact from vaccine-related news and much more focus on when the economic recovery will take hold in a more organic way,” she said.

A report on Monday morning showed that growth in business activity in the Chicago area slowed more than economists expected. A separate report said that the pace of pending sales of homes was slower in October than expected. They’re the latest data to suggest the resurgent pandemic is dragging on the economy, including a pickup in layoffs.

With coronavirus counts and hospitalizations surging across the United States, Europe and elsewhere, governments are bringing back varying degrees of restrictions on businesses. An additional worry for markets is that the worsening pandemic will keep customers hunkered at home regardless of what kind of stay-at-home orders arrive. Experts are warning of a potentially brutal winter.

IHS Markit jumped 7.4% for Monday's biggest gain in the S&P 500 after S&P Global said it would buy the data provider in a deal valued at $44 billion, including $4.8 billion of debt. S&P Global rose 3%.

European and Asian markets ended broadly lower. The yield on the 10-year Treasury ticked up to 0.84% from 0.83% late Friday.


----------



## bigdog

*Strong start to December as S&P 500 index sets another high*

Wall Street kicked off December with more milestones Tuesday after a broad rally for stocks pushed the S&P 500 and Nasdaq composite to new highs.

The S&P 500 gained 1.1%, with Big Tech companies and banks driving a big part of the rally. The strong opening to December follows a 10.8% surge for the broad index in November, marking its best month since April. The tech-heavy Nasdaq climbed 1.3%. Both indexes beat the record highs they set on Friday. Treasury yields also rose in another sign of optimism from investors.

Stocks have been ramping higher in recent weeks as investors focus on the possibility that coronavirus vaccines could soon help usher in a fuller global economic recovery. Meanwhile, lawmakers in Washington are debating once more whether to deliver another round of coronavirus relief to the economy before President Donald Trump leaves office.

“It seems like both the House and the Senate are trying to break this logjam,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute. “It seems the market is feeding off that.”

The S&P 500 rose 40.82 points to 3,662.45. The Dow Jones Industrial Average gained 185.28 points, or 0.6%, to 29,823.92. The Nasdaq climbed 156.37 points to 12,355.11. Small company stocks also added to their recent gains. The Russell 2000 index picked up 16.23 points, or 0.9%, to 1,836.05.

While the economic recovery has been stunted by a resurgence of the virus, investors are looking past much of that because of good progress on vaccine development. Several pharmaceutical companies have reported encouraging data recently suggesting their vaccine candidates are highly effective, raising hopes on Wall Street that the economy will begin to turn around next year as the vaccines are distributed to a world beaten down by the COVID-19 pandemic.

The Organization for Economic Cooperation and Development said in a report that the world economy will bounce back to its pre-pandemic levels by the end of next year, though the recovery will be uneven across the countries and many risks remain.

European regulators could approve a coronavirus vaccine developed by drugmakers Pfizer and BioNTech within four weeks. The companies have already asked for approval to begin vaccinations in the U.S. in December. Moderna is also asking U.S. and European regulators to allow emergency use of its COVID-19 vaccine.

Traders are also holding out hope that Democrats and Republicans may reach a deal on some amount of economic stimulus for the economy before 2021, but the parties remain divided on the details and the cost.

Unemployment remains high as the COVID-19 outbreak widens the gulf between average people and the wealthiest Americans. The virus, which has claimed more than 269,000 lives nationwide, is resurgent across the country amid holiday travel and colder weather sending people indoors.


*ASX 200 expected to storm higher.*

The Australian share market looks set to storm higher on Wednesday after a positive night on global markets. According to the latest SPI futures, the ASX 200 is expected to open the day 48 points or 0.75% higher this morning. Wall Street finished with the Dow Jones is up 0.63%, the S&P 500 is up 1.13%, and the Nasdaq has jumped 1.28%.











https://apnews.com/article/financia...n=SocialFlow&utm_medium=AP&utm_source=Twitter

*Strong start to December as S&P 500 index sets another high*

DAMIAN J. TROISE and ALEX VEIGA

Wall Street kicked off December with more milestones Tuesday after a broad rally for stocks pushed the S&P 500 and Nasdaq composite to new highs.

The S&P 500 gained 1.1%, with Big Tech companies and banks driving a big part of the rally. The strong opening to December follows a 10.8% surge for the broad index in November, marking its best month since April. The tech-heavy Nasdaq climbed 1.3%. Both indexes beat the record highs they set on Friday. Treasury yields also rose in another sign of optimism from investors.

Stocks have been ramping higher in recent weeks as investors focus on the possibility that coronavirus vaccines could soon help usher in a fuller global economic recovery. Meanwhile, lawmakers in Washington are debating once more whether to deliver another round of coronavirus relief to the economy before President Donald Trump leaves office.

“It seems like both the House and the Senate are trying to break this logjam,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute. “It seems the market is feeding off that.”

The S&P 500 rose 40.82 points to 3,662.45. The Dow Jones Industrial Average gained 185.28 points, or 0.6%, to 29,823.92. The Nasdaq climbed 156.37 points to 12,355.11. Small company stocks also added to their recent gains. The Russell 2000 index picked up 16.23 points, or 0.9%, to 1,836.05.

While the economic recovery has been stunted by a resurgence of the virus, investors are looking past much of that because of good progress on vaccine development. Several pharmaceutical companies have reported encouraging data recently suggesting their vaccine candidates are highly effective, raising hopes on Wall Street that the economy will begin to turn around next year as the vaccines are distributed to a world beaten down by the COVID-19 pandemic.

The Organization for Economic Cooperation and Development said in a report that the world economy will bounce back to its pre-pandemic levels by the end of next year, though the recovery will be uneven across the countries and many risks remain.

European regulators could approve a coronavirus vaccine developed by drugmakers Pfizer and BioNTech within four weeks. The companies have already asked for approval to begin vaccinations in the U.S. in December. Moderna is also asking U.S. and European regulators to allow emergency use of its COVID-19 vaccine.

Traders are also holding out hope that Democrats and Republicans may reach a deal on some amount of economic stimulus for the economy before 2021, but the parties remain divided on the details and the cost.

Unemployment remains high as the COVID-19 outbreak widens the gulf between average people and the wealthiest Americans. The virus, which has claimed more than 269,000 lives nationwide, is resurgent across the country amid holiday travel and colder weather sending people indoors.

President-elect Joe Biden on Tuesday repeated calls for Congress to pass immediate pandemic relief funding even before he takes office.

The coronavirus vaccine optimism, low interest rates, economic data that, while uneven, continue to point to a recovery, and now signs that Washington might take another stab at a stimulus bill are giving investors a green light to push stocks to new highs, said Samana.

“When you take it all together and piece it into a mosaic, to a lot of investors it seems like there’s no way to lose if all of these tailwinds are conspiring to drive equities higher,” he said, adding the market’s upward push may be getting “a bit overdone.”

Roughly 76% of the companies in the S&P 500 rose Tuesday, as did every sector in the index, except for industrials. Technology stocks led the way higher, with the Big Tech companies notching gains. Apple rose 3.1% and Microsoft gained 1%. Facebook climbed 3.5%, while Netflix added 2.8%. Google parent Alphabet rose 2.3% and Amazon gained 1.6%.

Banks, health care stocks and companies that rely on direct consumer spending also helped drive the market higher. JP Morgan Chase gained 1.6% and Pfizer rose 2.9%.

Early in Wall Street’s recovery this spring, it was Big Tech that almost singlehandedly carried the market higher on expectations that work-from-home and other trends would mean bigger profits for them. But hopes for a vaccine and return to economic normalcy have been helping boost stocks of companies whose profits are more closely tied to the economy’s strength.

Salesforce.com shares fell 4% in after-hours trading after the business software pioneer announced it is buying work chatting service Slack for $27.7 billion. The acquisition is by far the largest in the 21-year history of San Francisco-based Salesforce.

The yield on the 10-year Treasury rose to 0.93% from 0.83% late Monday, a big move. The higher yields are also helped bolster banks, which rely on higher bond yields to charge more lucrative interest on loans.

European and Asian markets rose.


----------



## bigdog

*Stock indexes shake off a weak start and end mostly higher*

Stocks shook off a sluggish start to finish with modest gains Wednesday, nudging the S&P 500 index to an all-time high for the second straight day.

The benchmark index rose 0.2% after spending much of the day drifting between small gains and losses. About 54% of the stocks in the index rose, with communications, financial and health care companies driving the bulk of the gains. A pullback in technology stocks, companies that rely on consumer spending and elsewhere kept the market’s gains in check.

Treasury yields continued to head mostly higher, a sign of growing confidence in the outlook for the economy. That confidence has also been pushing stocks higher in recent weeks as traders hope coronavirus vaccines will start driving a stronger economic recovery. Investors were not deterred by new data Wednesday showing that hiring by U.S. companies slowed last month.

“The biggest thing about the market that we’ve seen the last couple of weeks is (investors) keep trying to sell it, and it still hangs in there,” said J.J. Kinahan, chief strategist at TD Ameritrade.

The S&P 500 rose 6.56 points to 3,669.01. The index is now up about 13.6% for the year. The Dow Jones Industrial Average gained 59.87 points, or 0.2%, to 29,883.79. The tech-heavy Nasdaq composite, which also opened the month with a new record, slipped 5.74 points, or 0.1%, to 12,349.37.

Stocks have been ramping higher in recent weeks as drugmakers make steady progress in developing coronavirus vaccines. The rollout of a vaccine in the U.S. could begin this month, if regulators give their approval.

Pfizer shares rose 3.5% after the drugmaker and BioNTech said they won permission for emergency use of their COVID-19 vaccine in Britain. The vaccine is the world’s first coronavirus shot that’s backed by rigorous science and a major step toward eventually ending the pandemic. The move makes Britain one of the first countries to begin vaccinating its population against the virus. The companies have already asked for approval to begin vaccinations in the U.S. in December.

Moderna is also asking U.S. and European regulators to allow emergency use of its COVID-19 vaccine. Its shares rose 1.4%.

Optimism about vaccine developments have tempered lingering concerns over rising virus cases in the U.S., though worries persist about the economic fallout from new government restrictions on businesses aimed at limiting the spread.

“My farther-out fear for the market is once this vaccine starts to roll out, will it be able to meet these amazing expectations people have for everything getting back to normal?” Kinahan said.

Unemployment remains high as the COVID-19 outbreak widens the gulf between average people and the wealthiest Americans. Payroll processor ADP said Wednesday that its latest survey of private U.S. employers shows they added 307,000 jobs last month. That fell short of Wall Street analysts’ expectations for a gain of 405,000 jobs, according to FactSet.

The report precedes a broader jobs survey from the Labor Department due out Friday. Economists are forecasting that will show employers added about 441,000 jobs in November, down from a gain of 638,000 in October.

Meanwhile, traders are holding out hope that Democrats and Republicans may reach a deal on some amount of economic stimulus for the economy before 2021, though the parties remain divided on the details and the cost.

*ASX 200 expected to rise.*

The Australian share market looks set to rise on Thursday despite a weak night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 15 points or 0.25% higher this morning. The Dow Jones was up 0.20%, the S&P 500 is up 0.18%, and the Nasdaq has fallen 0.05% on closing.










https://apnews.com/article/financia...ong-shanghai-75a1547e71292b79b7c101b48ec8fd84

*Stock indexes shake off a weak start and end mostly higher*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks shook off a sluggish start to finish with modest gains Wednesday, nudging the S&P 500 index to an all-time high for the second straight day.

The benchmark index rose 0.2% after spending much of the day drifting between small gains and losses. About 54% of the stocks in the index rose, with communications, financial and health care companies driving the bulk of the gains. A pullback in technology stocks, companies that rely on consumer spending and elsewhere kept the market’s gains in check.

Treasury yields continued to head mostly higher, a sign of growing confidence in the outlook for the economy. That confidence has also been pushing stocks higher in recent weeks as traders hope coronavirus vaccines will start driving a stronger economic recovery. Investors were not deterred by new data Wednesday showing that hiring by U.S. companies slowed last month.

“The biggest thing about the market that we’ve seen the last couple of weeks is (investors) keep trying to sell it, and it still hangs in there,” said J.J. Kinahan, chief strategist at TD Ameritrade.

The S&P 500 rose 6.56 points to 3,669.01. The index is now up about 13.6% for the year. The Dow Jones Industrial Average gained 59.87 points, or 0.2%, to 29,883.79. The tech-heavy Nasdaq composite, which also opened the month with a new record, slipped 5.74 points, or 0.1%, to 12,349.37.

Stocks have been ramping higher in recent weeks as drugmakers make steady progress in developing coronavirus vaccines. The rollout of a vaccine in the U.S. could begin this month, if regulators give their approval.

Pfizer shares rose 3.5% after the drugmaker and BioNTech said they won permission for emergency use of their COVID-19 vaccine in Britain. The vaccine is the world’s first coronavirus shot that’s backed by rigorous science and a major step toward eventually ending the pandemic. The move makes Britain one of the first countries to begin vaccinating its population against the virus. The companies have already asked for approval to begin vaccinations in the U.S. in December.

Moderna is also asking U.S. and European regulators to allow emergency use of its COVID-19 vaccine. Its shares rose 1.4%.

Optimism about vaccine developments have tempered lingering concerns over rising virus cases in the U.S., though worries persist about the economic fallout from new government restrictions on businesses aimed at limiting the spread.

“My farther-out fear for the market is once this vaccine starts to roll out, will it be able to meet these amazing expectations people have for everything getting back to normal?” Kinahan said.

Unemployment remains high as the COVID-19 outbreak widens the gulf between average people and the wealthiest Americans. Payroll processor ADP said Wednesday that its latest survey of private U.S. employers shows they added 307,000 jobs last month. That fell short of Wall Street analysts’ expectations for a gain of 405,000 jobs, according to FactSet.

The report precedes a broader jobs survey from the Labor Department due out Friday. Economists are forecasting that will show employers added about 441,000 jobs in November, down from a gain of 638,000 in October.

Meanwhile, traders are holding out hope that Democrats and Republicans may reach a deal on some amount of economic stimulus for the economy before 2021, though the parties remain divided on the details and the cost.

The Federal Reserve’s latest survey of business conditions around the U.S. found economic activity has slowed in some parts of the country as amid a surge in new coronavirus cases. On Wednesday, Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin told lawmakers during a House Financial Services Committee hearing that Congress needs to approve COVID-19 relief funds without further delay.

However, it’s looks like most lawmakers are willing to wait until after President-elect Joe Biden takes office, said Ross Mayfield, investment strategy analyst at Baird.

“The problem is, by that point you’re going to have six to 10 more weeks of economic damage,” he said.

Technology stocks, which have been leading the market higher since the pandemic started wreaking havoc on the global economy, helped limit the market’s gains Wednesday. Salesforce.com was the biggest decliner in the S&P 500, tumbling 8.5%, after announcing a deal late Tuesday to buy messaging platform Slack for $27.7 billion. Microsoft slipped 0.4%.

Lyft climbed 9.6% after the ride-hailing company posted a smaller loss this quarter and better margins. The news helped boost rival Uber Technologies up 7%.

Treasury yields headed higher, giving banks a boost because they allow them to charge more lucrative interest rates on loans. The yield on the 10-year Treasury rose to 0.96% from 0.92% late Tuesday. JPMorgan Chase rose 1.9% and Citigroup gained 3.1%.

Germany’s DAX shed 0.5% and France’s CAC 40 was flat. In Britain, the FTSE 100 rose 1.2%. Markets in Asia were mixed.


----------



## bigdog

*A late stumble left the S&P 500 just short of its third record high in a row even as other indexes rose Thursday.*

U.S. stock indexes closed mostly higher Thursday after a late stumble pulled the S&P 500 just short of its third straight all-time high.

The benchmark index slipped 0.1% after spending much of the day higher. It's on track for its second weekly gain as Wall Street continues to coast following its rocket ride last month powered by hopes for coming COVID-19 vaccines. The Nasdaq composite set a record high for the second straight day. Treasury yields mostly declined, a reversal from earlier in the week.

A couple reports on the economy that were better than expected helped support stocks. One showed that growth in the U.S. services sector, including health care and retail, was slightly stronger last month than economists expected. A separate report said fewer U.S. workers filed for unemployment benefits last week than forecast, though economists cautioned the number may have been distorted by the Thanksgiving holiday.

Investors have also been encouraged this week by signs that Democrats and Republicans in Washington may get past their bitter partisanship to reach a deal to provide more financial support for the economy. House Speaker Nancy Pelosi and Senate Majority Leader Mitch McConnell spoke Thursday, a day after Pelosi signaled a willingness to make major concessions in search of a coronavirus rescue package. President-elect Joe Biden urged Congress on Wednesday to pass a relief bill now, with more aid to come next year.

“There’s a lot of optimism being built into the market right now,” said Sam Stovall, chief investment strategist at CFRA. “Investors are sort of keeping their fingers crossed that we come up with a stimulus package, no matter the size.”

The S&P 500 slipped 2.29 points to 3,666.72. The Dow Jones Industrial Average gained 85.73 points, or 0.3%, to 29,969.52. The Nasdaq composite added 27.82 points, or 0.2%, to 12,377.18. Small company stocks made out better than the broader market. The Russell 2000 index picked up 10.67 points, or 0.6%, to 1,848.70.

Momentum across markets has slowed after the S&P 500 surged 10.8% last month on hopes that one or more coronavirus vaccines will get the global economy closer to normal next year. The burst of optimism boosted stocks of travel companies, banks and smaller businesses in particular, after they were among the most harshly punished during the pandemic.

“It’s pretty clear that investors are looking at some of those areas that would benefit from a more complete reopening,” said David Lefkowitz, head of Americas equities at UBS Global Wealth Management.

Now that stock indexes are back at all-time highs, worries about the still-raging pandemic are making further big gains more difficult. Governments around the world are considering the approval of several coronavirus vaccines, and a U.S. rollout could begin this month if regulators give their approval. Britain has already approved emergency use of a COVID-19 vaccine developed by Pfizer and BioNTech.

 But vaccines would initially go out only to protect health care workers and others at high risk. In the meantime, coronavirus counts and hospitalizations continue to surge. That has governments around the world bringing back varying degrees of restrictions on businesses and consumers worried about their own health. That, in turns, is threatening the economic recovery that got underway in the spring

*ASX 200 expected to rise.*

The Australian share market looks set to rise on Friday after a positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 11 points or 0.17% higher. The Dow Jones closed up 0.29%, the S&P 500 is flat, and the Nasdaq has risen 0.23%.










https://www.usnews.com/news/busines...es-advance-on-optimism-over-vaccines-stimulus

*Late Stumble Leaves S&P 500 Just Short of a Record High*
*A late stumble left the S&P 500 just short of its third record high in a row even as other indexes rose Thursday.*
By Associated Press, Wire Service Content Dec. 3, 2020, at 5:07 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

U.S. stock indexes closed mostly higher Thursday after a late stumble pulled the S&P 500 just short of its third straight all-time high.

The benchmark index slipped 0.1% after spending much of the day higher. It's on track for its second weekly gain as Wall Street continues to coast following its rocket ride last month powered by hopes for coming COVID-19 vaccines. The Nasdaq composite set a record high for the second straight day. Treasury yields mostly declined, a reversal from earlier in the week.

A couple reports on the economy that were better than expected helped support stocks. One showed that growth in the U.S. services sector, including health care and retail, was slightly stronger last month than economists expected. A separate report said fewer U.S. workers filed for unemployment benefits last week than forecast, though economists cautioned the number may have been distorted by the Thanksgiving holiday.

Investors have also been encouraged this week by signs that Democrats and Republicans in Washington may get past their bitter partisanship to reach a deal to provide more financial support for the economy. House Speaker Nancy Pelosi and Senate Majority Leader Mitch McConnell spoke Thursday, a day after Pelosi signaled a willingness to make major concessions in search of a coronavirus rescue package. President-elect Joe Biden urged Congress on Wednesday to pass a relief bill now, with more aid to come next year.

“There’s a lot of optimism being built into the market right now,” said Sam Stovall, chief investment strategist at CFRA. “Investors are sort of keeping their fingers crossed that we come up with a stimulus package, no matter the size.”

The S&P 500 slipped 2.29 points to 3,666.72. The Dow Jones Industrial Average gained 85.73 points, or 0.3%, to 29,969.52. The Nasdaq composite added 27.82 points, or 0.2%, to 12,377.18. Small company stocks made out better than the broader market. The Russell 2000 index picked up 10.67 points, or 0.6%, to 1,848.70.

Momentum across markets has slowed after the S&P 500 surged 10.8% last month on hopes that one or more coronavirus vaccines will get the global economy closer to normal next year. The burst of optimism boosted stocks of travel companies, banks and smaller businesses in particular, after they were among the most harshly punished during the pandemic.

“It’s pretty clear that investors are looking at some of those areas that would benefit from a more complete reopening,” said David Lefkowitz, head of Americas equities at UBS Global Wealth Management.

Now that stock indexes are back at all-time highs, worries about the still-raging pandemic are making further big gains more difficult. Governments around the world are considering the approval of several coronavirus vaccines, and a U.S. rollout could begin this month if regulators give their approval. Britain has already approved emergency use of a COVID-19 vaccine developed by Pfizer and BioNTech.

But vaccines would initially go out only to protect health care workers and others at high risk. In the meantime, coronavirus counts and hospitalizations continue to surge. That has governments around the world bringing back varying degrees of restrictions on businesses and consumers worried about their own health. That, in turns, is threatening the economic recovery that got underway in the spring.

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Across the country, the Labor Department said 712,000 workers applied for jobless benefits last week. That's an improvement from the 787,000 of the prior week, but it still towers over the roughly 225,000 workers that were applying weekly before the pandemic struck.

Concerns about the potential economic fallout from more restrictions on businesses has intensified the pressure on Washington to deliver more aid. Still, Democrats and Republicans have been arguing for months without much progress.

“Ideally we would get some kind of fiscal support sooner rather than later,” Lefkowitz said. “The big news is there’s more of a line of sight on the fact that the economy will likely get back to full strength.”

On Wednesday, Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin underscored the importance of such relief during a House Financial Services Committee hearing. The economy has been struggling more since extra unemployment benefits and other stimulus approved earlier this year by Congress expired.

Ralph Lauren led the gainers in the S&P 500 Thursday, vaulting 8.7%. Several travel-related companies also finished near the top of the leaderboard, clawing back more of their precipitous losses from earlier in the pandemic. American Airlines Group rose 8.3%, Norwegian Cruise line gained 8.6, and United Airlines climbed 6.8%. All three, though, remain more than 40% lower for 2020.

Boeing surged 6% after Ireland’s Ryanair announced that it will order 75 more of the aircraft manufacturer's 737 Max jets, a vote of confidence for the troubled Max from one of Europe’s biggest budget airlines. The plane was grounded in March 2019 after two crashes killed 346 people.

The yield on the 10-year Treasury dipped to 0.91% from 0.94% late Wednesday.

European stock markets closed mostly lower. Markets in Asia were mixed.


----------



## bigdog

*More record highs for stocks as hopes grow for economic aid*

Wall Street closed out a solid week for stocks Friday with more record highs as traders took a discouraging jobs report as a sign that Congress will finally move to deliver more aid for the pandemic-stricken economy.

The S&P 500 rose 0.9%, notching its third all-time high this week. The Dow Jones Industrial Average, Nasdaq composite and Russell 2000 index of smaller companies also closed at record highs.

The gains were broad, with about 81% of the companies in the S&P 500 moving higher. Gains in technology, health care and energy stocks helped lift the market, outweighing losses in utilities and companies that rely on consumer spending. Treasury yields rose, a sign of growing confidence in the economic outlook.

Hopes remain deeply rooted on Wall Street that one or more coronavirus vaccines are coming to rescue the global economy next year. But efforts to contain a surge in new virus cases has stoked worries about more economic pain for companies and consumers.

That’s why Friday’s much weaker-than-expected jobs report perversely helped lift stocks. Investors are betting the report may be bad enough to help kick Congress out of its paralysis and deliver more support for the economy.

“In a twist of irony, the bad jobs number is positive for markets today,” said Keith Buchanan, portfolio manager at Globalt Investments. “The market is telling us today that if the labor market continues to show slowing momentum, it’s much more likely the powers that be in D.C. agree to something that’s material.”

The S&P 500 rose 32.40 points to 3,699.12. The benchmark index climbed 1.7% for the week, it’s second consecutive weekly gain. The Dow picked up 248.74 points, or 0.8%, to 30,218.26. The Nasdaq picked up 87.05 points, or 0.7%, to 12,464.23.

Stocks of smaller companies, which have recently helped lead the market after lagging earlier this year, outgained the broader market Friday. The Russell 2000 climbed 43.75 points, or 2.4%, to 1,892.45, more than double the gain for the big stocks in the S&P 500.

Stocks seemed headed for a downbeat day early Friday as traders weighed the disappointing jobs report. Treasury yields sank, and U.S. stock futures wobbled after the data showed employers added just 245,000 jobs last month, half of what economists were expecting. The report marked a sharp step down from October’s gain of 610,000 and was the fifth straight month of slowing growth.

Economists called the numbers disappointing and evidence that the worsening pandemic will likely destroy more jobs and income for the economy in the coming months, which are shaping up to be a bleak winter.

But markets quickly firmed amid hopes that the dour data could spur some action from Congress, which has dithered for months after much of its last round of financial support for the economy expired during the summer.

“Overall, today’s report is beckoning lawmakers to act on additional fiscal stimulus measures in order to bridge the output gap in the economy until a vaccine is deployed, and the longer they hold out the wider the gap may become,” said Charlie Ripley, senior investment strategist for Allianz Investment Management.

Democrats and Republicans have been making on-and-off progress on talks for another round of support for the economy, including aid for laid-off workers and industries hit hard by the pandemic. Momentum has seemed to swing back to “on” this week after Democrats signaled willingness to accept a smaller package than they were earlier demanding.











https://apnews.com/article/financia...ong-shanghai-3e3e3e453bf1ced6e37999a109c88964

*More record highs for stocks as hopes grow for economic aid*

By STAN CHOE and ALEX VEIGA

Wall Street closed out a solid week for stocks Friday with more record highs as traders took a discouraging jobs report as a sign that Congress will finally move to deliver more aid for the pandemic-stricken economy.

The S&P 500 rose 0.9%, notching its third all-time high this week. The Dow Jones Industrial Average, Nasdaq composite and Russell 2000 index of smaller companies also closed at record highs.

The gains were broad, with about 81% of the companies in the S&P 500 moving higher. Gains in technology, health care and energy stocks helped lift the market, outweighing losses in utilities and companies that rely on consumer spending. Treasury yields rose, a sign of growing confidence in the economic outlook.

Hopes remain deeply rooted on Wall Street that one or more coronavirus vaccines are coming to rescue the global economy next year. But efforts to contain a surge in new virus cases has stoked worries about more economic pain for companies and consumers.

That’s why Friday’s much weaker-than-expected jobs report perversely helped lift stocks. Investors are betting the report may be bad enough to help kick Congress out of its paralysis and deliver more support for the economy.

“In a twist of irony, the bad jobs number is positive for markets today,” said Keith Buchanan, portfolio manager at Globalt Investments. “The market is telling us today that if the labor market continues to show slowing momentum, it’s much more likely the powers that be in D.C. agree to something that’s material.”

The S&P 500 rose 32.40 points to 3,699.12. The benchmark index climbed 1.7% for the week, it’s second consecutive weekly gain. The Dow picked up 248.74 points, or 0.8%, to 30,218.26. The Nasdaq picked up 87.05 points, or 0.7%, to 12,464.23.

Stocks of smaller companies, which have recently helped lead the market after lagging earlier this year, outgained the broader market Friday. The Russell 2000 climbed 43.75 points, or 2.4%, to 1,892.45, more than double the gain for the big stocks in the S&P 500.

Stocks seemed headed for a downbeat day early Friday as traders weighed the disappointing jobs report. Treasury yields sank, and U.S. stock futures wobbled after the data showed employers added just 245,000 jobs last month, half of what economists were expecting. The report marked a sharp step down from October’s gain of 610,000 and was the fifth straight month of slowing growth.

Economists called the numbers disappointing and evidence that the worsening pandemic will likely destroy more jobs and income for the economy in the coming months, which are shaping up to be a bleak winter.

But markets quickly firmed amid hopes that the dour data could spur some action from Congress, which has dithered for months after much of its last round of financial support for the economy expired during the summer.

“Overall, today’s report is beckoning lawmakers to act on additional fiscal stimulus measures in order to bridge the output gap in the economy until a vaccine is deployed, and the longer they hold out the wider the gap may become,” said Charlie Ripley, senior investment strategist for Allianz Investment Management.

Democrats and Republicans have been making on-and-off progress on talks for another round of support for the economy, including aid for laid-off workers and industries hit hard by the pandemic. Momentum has seemed to swing back to “on” this week after Democrats signaled willingness to accept a smaller package than they were earlier demanding.

House Speaker Nancy Pelosi and Senate Majority Leader Mitch McConnell spoke on the phone about a possible deal on Thursday, and lawmakers from both parties have been voicing support for a bipartisan deal. The glimmers of progress follow months of cajoling and pleading by economists and investors, who say such aid is essential. Many obstacles remain, though.

The hope in markets is that financial support from Washington could help carry the economy through a dark winter. Surging coronavirus counts, hospitalizations and deaths are pushing governments around the world to bring back varying degrees of restrictions on businesses. They’re also scaring consumers away from stores, restaurants and other normal economic activity.

Hopefully, the economy will be able to stand more on its own next year after one or more COVID-19 vaccines help start a slow return to more normal conditions. Such hopes helped stocks muscle 10.8% higher in November, though the momentum has slowed a bit recently as the pandemic accelerates at a troubling rate.

Energy companies were some of Friday’s best performers, as oil prices climb further out of the hole they plunged into during the spring following a collapse in demand. Diamondback Energy jumped 12.7%, and Occidental Petroleum gained 13.4% for the two biggest gains in the S&P 500. Both stocks remain down by about 50% for the year, though.

The yield on the 10-year Treasury shook off an initial stumble following the release of the jobs report to rise to 0.97%, up from 0.91% late Thursday.

European markets rose. Asian markets mostly rose, except in Japan, where the Nikkei slipped.


----------



## bigdog

*ASX futures pointing higher.*

The Australian share market looks set to start the week on a positive note after a solid finish on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the week 42 points or 0.6% higher. On Friday night, the Dow Jones jumped 0.8%, the S&P 500 climbed 0.9%, and the Nasdaq rose 0.7%. This led to the Dow Jones reaching a new record high


----------



## bigdog

*Stocks close mostly lower, pushing pause on recent rally*

Stocks closed mostly lower Monday as Wall Street pumped the brakes after a recent run of strong gains.

The S&P 500 fell 0.2%, as losses in health care, financial and energy companies outweighed gains in technology, communication and utilities stocks. The pickup in technology companies, whose profits have proven more resistant to the pandemic’s effect on the economy, helped nudge the Nasdaq composite to its third consecutive all-time high.

The downbeat start to the week comes as investors balance optimism that one or more coconravirus vaccines will soon be cleared for distribution in the U.S., setting the stage for an economic turnaround, against worries about more economic pain as states impose new restrictions on businesses in a bid to stem a surge in new virus cases and hospitalizations.

Traders also continue to hold out hope that Washington will deliver another round of financial aid for Americans and businesses hurt most by the pandemic. But if Congress fails to reach a deal to carry the economy through the winter, stocks could be set up for more declines.

“The market is taking a much needed pause as it waits for answers on the stimulus package,” said Quincy Krosby, chief market strategist at Prudential Financial. “Will it be closer to a trillion or closer to $500 billion? That’s going to be important for the market.”

The S&P 500 dropped 7.16 points to 3,691.96. The Dow Jones Industrial Average slid 148.47 points, or 0.5%, to 30,069.79. The Nasdaq gained 55.71 points, or 0.4%, to 12,519.95. Small company stocks slipped 1.20 points, or 0.1%, to 1,891.25.

Stocks have mounted a strong, weeks long run around the world. The S&P 500 had one of its best months in decades during November and added more to it last week, in large part because of optimism about the development of coronavirus vaccines. Hope has also built that Washington may be able to get past its partisanship to deliver some form of aid for the still-struggling economy in the meantime.

Lawmakers on Capitol Hill are trying to figure out how to deliver long-delayed pandemic relief, including additional help for businesses hard hit by the pandemic, further unemployment benefits, funding to distribute COVID-19 vaccines and funding demanded by Democrats for state and local governments.

The worsening pandemic is pushing governments around the world to bring back varying degrees restrictions on businesses, keeping customers away from businesses and threatening to drag down the economy through what’s expected to be a bleak winter. Job growth in the United States slowed sharply last month, a report on Friday showed, and the numbers may get only worse.

Uncertainty over the impact of the virus surge, the timing of a vaccine rollout and potential aid from Washington has helped slow the momentum for financial markets and made technology stocks go-to buys for traders. Apple rose 1.2%, while Facebook gained 2.1% and Netflix climbed 3.5%.

*ASX 200 expected to fall.*

The Australian share market looks set to give back some of its gains on Tuesday. According to the latest SPI futures, the ASX 200 is poised to open the day 16 points or 0.25% lower this morning. This follows a reasonably mixed start to the week on Wall Street. On closing, the Dow Jones is down 0.49%, the S&P 500 is down 0.19%, and the Nasdaq is up 0.45%.


_







_

https://apnews.com/article/beijing-...ong-shanghai-b0d546a13c533c8b61c5d7d6cf6bc3db

*Stocks close mostly lower, pushing pause on recent rally*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Stocks closed mostly lower Monday as Wall Street pumped the brakes after a recent run of strong gains.

The S&P 500 fell 0.2%, as losses in health care, financial and energy companies outweighed gains in technology, communication and utilities stocks. The pickup in technology companies, whose profits have proven more resistant to the pandemic’s effect on the economy, helped nudge the Nasdaq composite to its third consecutive all-time high.

The downbeat start to the week comes as investors balance optimism that one or more coconravirus vaccines will soon be cleared for distribution in the U.S., setting the stage for an economic turnaround, against worries about more economic pain as states impose new restrictions on businesses in a bid to stem a surge in new virus cases and hospitalizations.

Traders also continue to hold out hope that Washington will deliver another round of financial aid for Americans and businesses hurt most by the pandemic. But if Congress fails to reach a deal to carry the economy through the winter, stocks could be set up for more declines.

“The market is taking a much needed pause as it waits for answers on the stimulus package,” said Quincy Krosby, chief market strategist at Prudential Financial. “Will it be closer to a trillion or closer to $500 billion? That’s going to be important for the market.”

The S&P 500 dropped 7.16 points to 3,691.96. The Dow Jones Industrial Average slid 148.47 points, or 0.5%, to 30,069.79. The Nasdaq gained 55.71 points, or 0.4%, to 12,519.95. Small company stocks slipped 1.20 points, or 0.1%, to 1,891.25.

Stocks have mounted a strong, weeks long run around the world. The S&P 500 had one of its best months in decades during November and added more to it last week, in large part because of optimism about the development of coronavirus vaccines. Hope has also built that Washington may be able to get past its partisanship to deliver some form of aid for the still-struggling economy in the meantime.

Lawmakers on Capitol Hill are trying to figure out how to deliver long-delayed pandemic relief, including additional help for businesses hard hit by the pandemic, further unemployment benefits, funding to distribute COVID-19 vaccines and funding demanded by Democrats for state and local governments.

The worsening pandemic is pushing governments around the world to bring back varying degrees restrictions on businesses, keeping customers away from businesses and threatening to drag down the economy through what’s expected to be a bleak winter. Job growth in the United States slowed sharply last month, a report on Friday showed, and the numbers may get only worse.

Uncertainty over the impact of the virus surge, the timing of a vaccine rollout and potential aid from Washington has helped slow the momentum for financial markets and made technology stocks go-to buys for traders. Apple rose 1.2%, while Facebook gained 2.1% and Netflix climbed 3.5%.

“Whenever there are concerns about growth, investors and traders migrate to the tech names,” Krosby said.

Monday’s tech rally is a flip of the market’s recent momentum and a callback to how it was trading earlier this year, before enthusiasm burst higher in November that one or more COVID-19 vaccines will get the global economy closer to normal next year.

“It gave us all some hope and hope is a pretty good ingredient for the markets,” said Frank Panayotou, managing director at UBS Private Wealth Management.

And while the markets are likely in good shape for the medium or long-term, he said, investors can expect some choppiness as the the virus’ impact continues ahead of vaccines reaching people next year.

Stocks that would benefit most from a reopening, healthier economy were taking some of the sharper losses, giving back some of their big recent gains. Energy stocks in the S&P 500 fell 2.4% after their 16.8% surge in November, for example. Bank stocks were also weaker than the rest of the market, and roughly two-thirds of the stocks in the S&P 500 fell.

Chevron Corp. fell 2.7% amid worries that the worsening pandemic could choke off more demand for oil and energy.

Other companies whose profits desperately need the economy to improve and the world to get closer to normal also fell. Mall owner Simon Property Group dropped 4.8%, Olive Garden-owner Darden Restaurants fell 2.4% and airline operator Alaska Air Group lost 3.6%.

In Europe, stock indexes closed mostly lower, and the value of the British pound fell as negotiators in the United Kingdom’s exit from the European Union seemed to remain stuck on the same issues that have prevented a deal for months.

In Asia, markets were mixed as relations between the United States and China, the world’s two largest economies, remain tense.

The yield on the 10-year Treasury fell to 0.93% from 0.96% late Friday.


----------



## bigdog

*Steady gains throughout the day delivered another round of record highs for major indexes on Wall Street Tuesday.*

Technology and health care companies helped drive stocks to more gains Tuesday, leading to more milestones on Wall Street.

The S&P 500 index rose 0.3%, eclipsing the all-time high it set on Friday. The Nasdaq composite and Russell 2000 index of small company stocks also set record highs. The likelihood that one or more coronavirus vaccines could begin to be distributed in the U.S. in coming weeks has kept investors in a buying mood, boosting their optimism for an economic recovery next year.

The gains, which came after a shaky start for the market, came as the U.K. became the first Western country to start a mass vaccination program. On Tuesday, U.S. health regulators issued a positive initial review of that vaccine and a decision to allow its use is expected within days, though wide distribution is likely months away.

“The vaccine news and the focus on that is the most important thing for the market at the moment,” said Stephanie Roth, portfolio macro analyst, J.P. Morgan Private Bank. “At this point, the excitement is for the post-vaccine world.”

The S&P 500 rose 10.29 points to 3,702.25. The index had one of its best months in decades during November and is already up 2.2% so far this month. The Dow Jones Industrial Average gained 104.09 points, or 0.4%, to 30,173.88. The tech-heavy Nasdaq picked up 62.83 points, or 0.5%, to 12,582.77, marking its fourth straight record high.

Small-company stocks rose much more than the rest of the market, a signal that investors are feeling more optimistic about the economy. The Russell 2000 index climbed 26.53 points, or 1.4%, to 1,917.78.

Nearly 60% of the companies in the benchmark S&P 500 closed higher, with energy stocks notching the biggest gain. Stocks had been down in the early going on worries about rising coronavirus cases, but turned higher around midday. Traders are looking ahead to Thursday, when U.S. regulators will meet to determine whether to green-light the distribution of a COVID-19 vaccine developed by U.S. drugmaker Pfizer and Germany’s BioNTech.

The need for a vaccine has been heightened in recent weeks as the coronavirus has been surging across much of the world. The virus has claimed more than 1.5 million lives, including over 284,000 in the U.S., the highest toll of any country. Governments worldwide have been tightening restrictions on businesses in an effort to stem the latest surge in cases, stoking worries about the potential economic fallout.

That's kept investors focused on Washington and the prospects for another round of aid for Americans and business hit hardest by the pandemic. Congress is still stuck in a partisan stalemate over the size and scope of any additional aid to help cushion the financial impact to people and businesses. The economy has been showing signs of a stalled recovery as the virus surge broadens nationally, including slower job growth in the U.S. last month.

Big Tech stocks that have been big winners during the pandemic helped power the rally Tuesday. Apple rose 0.5% and Microsoft gained 0.8%.

Health care stocks made solid gains. Pfizer rose 3.2% and Johnson & Johnson rose 1.7%. Exxon Mobil was among the big gainers in the energy sector, climbing 3.3%.

Shop-from-home clothing seller Stitch Fix soared 39.2% after reporting a surprise profit in its latest quarter. Etsy jumped 4.5%.

A mix of companies that rely on direct consumer spending and those that would greatly benefit from a fuller economic recovery continued to see a bit of churn. The moves reflect the constant push-and-pull of hope for an eventual economic recovery pitted against the continued economic damage inflicted by the pandemic.

*ASX 200 expected to rise.*

The Australian share market looks set to push higher again on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 29 points or 0.4% higher this morning. This follows a positive night of trade on Wall Street, where closing sees the Dow Jones up 0.35%, the S&P 500 up 0.28%, and the Nasdaq up 0.5%.











https://www.usnews.com/news/busines...s-follow-wall-street-lower-amid-virus-worries

*Steady Gains for Stocks Deliver More Records on Wall Street*
Steady gains throughout the day delivered another round of record highs for major indexes on Wall Street Tuesday.
By Associated Press, Wire Service Content Dec. 8, 2020, at 4:55 p.m

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Technology and health care companies helped drive stocks to more gains Tuesday, leading to more milestones on Wall Street.

The S&P 500 index rose 0.3%, eclipsing the all-time high it set on Friday. The Nasdaq composite and Russell 2000 index of small company stocks also set record highs. The likelihood that one or more coronavirus vaccines could begin to be distributed in the U.S. in coming weeks has kept investors in a buying mood, boosting their optimism for an economic recovery next year.

The gains, which came after a shaky start for the market, came as the U.K. became the first Western country to start a mass vaccination program. On Tuesday, U.S. health regulators issued a positive initial review of that vaccine and a decision to allow its use is expected within days, though wide distribution is likely months away.

“The vaccine news and the focus on that is the most important thing for the market at the moment,” said Stephanie Roth, portfolio macro analyst, J.P. Morgan Private Bank. “At this point, the excitement is for the post-vaccine world.”

The S&P 500 rose 10.29 points to 3,702.25. The index had one of its best months in decades during November and is already up 2.2% so far this month. The Dow Jones Industrial Average gained 104.09 points, or 0.4%, to 30,173.88. The tech-heavy Nasdaq picked up 62.83 points, or 0.5%, to 12,582.77, marking its fourth straight record high.

Small-company stocks rose much more than the rest of the market, a signal that investors are feeling more optimistic about the economy. The Russell 2000 index climbed 26.53 points, or 1.4%, to 1,917.78.

Nearly 60% of the companies in the benchmark S&P 500 closed higher, with energy stocks notching the biggest gain. Stocks had been down in the early going on worries about rising coronavirus cases, but turned higher around midday. Traders are looking ahead to Thursday, when U.S. regulators will meet to determine whether to green-light the distribution of a COVID-19 vaccine developed by U.S. drugmaker Pfizer and Germany’s BioNTech.

The need for a vaccine has been heightened in recent weeks as the coronavirus has been surging across much of the world. The virus has claimed more than 1.5 million lives, including over 284,000 in the U.S., the highest toll of any country. Governments worldwide have been tightening restrictions on businesses in an effort to stem the latest surge in cases, stoking worries about the potential economic fallout.

That's kept investors focused on Washington and the prospects for another round of aid for Americans and business hit hardest by the pandemic. Congress is still stuck in a partisan stalemate over the size and scope of any additional aid to help cushion the financial impact to people and businesses. The economy has been showing signs of a stalled recovery as the virus surge broadens nationally, including slower job growth in the U.S. last month.

Big Tech stocks that have been big winners during the pandemic helped power the rally Tuesday. Apple rose 0.5% and Microsoft gained 0.8%.

Health care stocks made solid gains. Pfizer rose 3.2% and Johnson & Johnson rose 1.7%. Exxon Mobil was among the big gainers in the energy sector, climbing 3.3%.

Shop-from-home clothing seller Stitch Fix soared 39.2% after reporting a surprise profit in its latest quarter. Etsy jumped 4.5%.

A mix of companies that rely on direct consumer spending and those that would greatly benefit from a fuller economic recovery continued to see a bit of churn. The moves reflect the constant push-and-pull of hope for an eventual economic recovery pitted against the continued economic damage inflicted by the pandemic.

Cruise line operators gained ground, including a 6.2% rise from Norwegian Cruise Line. The sector very much needs the virus to recede in order to get back to normal operations. Other companies that need a more normal economy in order to recover are still slipping. Darden Restaurants, which operates Olive Garden, fell 0.4%.

Overall, many of the companies that have been beaten down have been doing better as investors see an eventual end to the pandemic. There's been a push for broader investments in many of those industries and not much pullback, said Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management.

“It’s a very positive sign when you see very broad participation,” he said. “It tells me positioning is still in the process of moving more into cyclical stocks.”

The yield on the 10-year Treasury rose to 0.92% from 0.91% late Monday.

European markets closed mixed and Asian markets fell.


----------



## bigdog

*Weakness in Tech Companies Leads Stocks Lower on Wall Street*
Stocks closed broadly lower on Wall Street, led by weakness in technology companies.

U.S. stock indexes pulled back from their recent record highs Wednesday, as virus cases surge and coronavirus vaccines move closer to distribution.

The S&P 500 index fell 0.8%, as losses in technology companies outweighed gains in industrial, energy and materials stocks. The benchmark index is still up 1.4% for the month after climbing to record highs four times in the past two weeks.

Markets have been mostly pushing higher in recent weeks on hopes that one or more coronvairus vaccines will begin to be distributed in coming weeks and begin to ease the economy out of the pandemic's grip.

A vaccine from Pfizer and German partner BioNTech, which is already in use in the U.K., is on track for a positive review and potential approval in the U.S. within the next week. The Food and Drug Administration will also consider a vaccine developed by Moderna later this month.

But there could be more economic damage in store over the next few months and investors are still closely watching Washington for any developments on another shot of stimulus for people, businesses and state governments. Congress is still divided over the size and scope of any new package and the Trump administration has added to the potential plans with a new $916 billion proposal.

“You haven’t seen a deal out of Congress, so to the extent that markets have been rallying on another round of hope about stimulus, not getting that lets a little bit of air out of the market,” said Willie Delwiche, investment strategist at Baird.

The S&P 500 dropped 29.43 points to 3,672.82. The Dow Jones Industrial Average lost 105.07 points, or 0.4%, to 30,068.81. The tech-heavy Nasdaq composite fell 243.82 points, or 1.9%, to 12,338.95.

The Russell 200 index of small company stocks gave up 15.63 points, or 0.8%, to 1,902.15. Small company stocks have been outgaining the broader market this month and the Russell 2000 is holding onto a 4.5% gain.

Technology stocks fell and dragged much of the market with them. Health care and communications stocks also slipped. Microsoft shed 1.9% while Pfizer Inc. fell 1.7%.

About 56% of the companies in the S&P 500 fell, led by Qorvo, which declined 5.6%.

Treasury yields gained ground in a sign of optimism for the the economy. The yield on the 10-year Treasury rose to 0.94% from 0.90% late Tuesday.

Investors still have an appetite for IPO's as meal delivery service DoorDash soared 85.8% in its market debut. The company has been one of the beneficiaries of the stay-at-home economy as more people shop and order food from their homes.

The market has generally been making gains as investors weigh the continued economic damage being inflicted by the virus against anticipation for a return to normalcy as vaccines start to move closer to approval and wider distribution. The recent surge in coronavirus cases and tighter restrictions on businesses over the last few weeks has again raised the importance of a vaccine for beaten down businesses.

*ASX 200 expected to drop.*

The Australian share market looks to have run out of steam and is expected to drop lower on Thursday. According to the latest SPI futures, the ASX 200 is poised to open the day 49 points or 0.7% lower this morning. This follows a disappointing night on Wall Street, where closing sees the Dow Jones down 0.35%, the S&P 500 down 0.79%, and the Nasdaq down a sizeable 1.94%.











https://www.usnews.com/news/busines...s-extend-gains-after-more-wall-street-records

*Weakness in Tech Companies Leads Stocks Lower on Wall Street*
*Stocks closed broadly lower on Wall Street, led by weakness in technology companies.*
By Associated Press, Wire Service Content Dec. 9, 2020, at 4:48 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

U.S. stock indexes pulled back from their recent record highs Wednesday, as virus cases surge and coronavirus vaccines move closer to distribution.

The S&P 500 index fell 0.8%, as losses in technology companies outweighed gains in industrial, energy and materials stocks. The benchmark index is still up 1.4% for the month after climbing to record highs four times in the past two weeks.

Markets have been mostly pushing higher in recent weeks on hopes that one or more coronvairus vaccines will begin to be distributed in coming weeks and begin to ease the economy out of the pandemic's grip.

A vaccine from Pfizer and German partner BioNTech, which is already in use in the U.K., is on track for a positive review and potential approval in the U.S. within the next week. The Food and Drug Administration will also consider a vaccine developed by Moderna later this month.

But there could be more economic damage in store over the next few months and investors are still closely watching Washington for any developments on another shot of stimulus for people, businesses and state governments. Congress is still divided over the size and scope of any new package and the Trump administration has added to the potential plans with a new $916 billion proposal.

“You haven’t seen a deal out of Congress, so to the extent that markets have been rallying on another round of hope about stimulus, not getting that lets a little bit of air out of the market,” said Willie Delwiche, investment strategist at Baird.

The S&P 500 dropped 29.43 points to 3,672.82. The Dow Jones Industrial Average lost 105.07 points, or 0.4%, to 30,068.81. The tech-heavy Nasdaq composite fell 243.82 points, or 1.9%, to 12,338.95.

The Russell 200 index of small company stocks gave up 15.63 points, or 0.8%, to 1,902.15. Small company stocks have been outgaining the broader market this month and the Russell 2000 is holding onto a 4.5% gain.

Technology stocks fell and dragged much of the market with them. Health care and communications stocks also slipped. Microsoft shed 1.9% while Pfizer Inc. fell 1.7%.

About 56% of the companies in the S&P 500 fell, led by Qorvo, which declined 5.6%.

Treasury yields gained ground in a sign of optimism for the the economy. The yield on the 10-year Treasury rose to 0.94% from 0.90% late Tuesday.

Investors still have an appetite for IPO's as meal delivery service DoorDash soared 85.8% in its market debut. The company has been one of the beneficiaries of the stay-at-home economy as more people shop and order food from their homes.

The market has generally been making gains as investors weigh the continued economic damage being inflicted by the virus against anticipation for a return to normalcy as vaccines start to move closer to approval and wider distribution. The recent surge in coronavirus cases and tighter restrictions on businesses over the last few weeks has again raised the importance of a vaccine for beaten down businesses.

Looking ahead, the economy will likely still have a long way to recovery in 2021, said Barry Bannister, head of institutional equity strategy at Stifel.

“What we’ve said is the sky is not falling, but there are some dark clouds and indexes are showing signs of fatigue,” he said.

European markets ended mixed. France’s CAC 40 was down 0.3%, Germany’s DAX rose 0.5% and the FTSE 100 in London rose 0.1%. Asian markets mostly rose.


----------



## bigdog

*Stocks wobbled to a mixed finish on Wall Street Thursday following more evidence that the pandemic is tightening its grip on the economy.*

U.S. stock indexes closed mostly lower Thursday following more evidence that the pandemic is tightening its grip on the economy while Congress remains in a stalemate over how to do something about it.

The S&P 500 slipped 0.1% after flipping between gains and losses in the early going. The index is within 1% of its all-time high set on Tuesday. Some 60% of the companies in the S&P 500 fell, led by declines in industrial and communication services stocks. Those losses outweighed gains in energy, technology and financial companies.

Treasury yields fell following a report that showed 853,000 U.S. workers applied for unemployment benefits last week. That was more than economists expected and an acceleration from the prior week. It’s also the latest reminder that the pandemic is doing more damage to the economy in the near term, even if prospects are rising that a COVID-19 vaccine will get the economy healthy in the longer term.

Economists and investors have been imploring Congress to deliver more financial support in the meantime, to help carry the economy until it can stand on its own. After months of partisan bickering and no progress on Capitol Hill, momentum seemed to swing higher recently for a deal, but talks are still mired in deep uncertainty.

On Thursday, Treasury Secretary Steven Mnuchin reported headway in talks over President Donald Trump’s latest $900 billion-plus plan. But, Democrats and Republicans are still at odds over the size and scope of any deal.

“There's nothing really new there, except now you've got some softening economic data,” said Paul Christopher, head of global market strategy at Wells Fargo Investment Institute

The S&P 500 fell 4.72 points to 3,668.10. The Dow Jones Industrial Average dropped 69.55 points, or 0.2%, to 29,999.26. The Nasdaq composite rose 66.85 points, or 0.5%, to 12,405.81.

Small company stocks continued to do better than the broader market. The Russell 2000 climbed 20.56, or 1.1%, to 1,922.70, a record high.

Stocks have been climbing to new heights in recent weeks on hopes that the distribution of one or more coronvairus vaccines will put the pandemic-ravaged economy on the path to recovery. But Thursday's discouraging report on joblessness adds to worries that the economy is in for more pain, especially in the wake of a surge in new coronavirus cases in many parts of the U.S.

*ASX 200 expected to drop again.*

The Australian share market looks set to end the week on a disappointing note. According to the latest SPI futures, the ASX 200 is poised to open the day 32 points or 0.5% lower this morning. This follows a mixed night of trade on Wall Street, where closing sees the Dow Jones down 0.23%, the S&P 500 down 0.13%, but the Nasdaq up 0.54%. The Airbnb share price doubled after its IPO on the Nasdaq.











https://www.usnews.com/news/busines...-lower-in-asia-after-tech-led-drop-on-wall-st

*Stock Indexes End Mixed as Damage to the Economy Piles Up*
Stocks wobbled to a mixed finish on Wall Street Thursday following more evidence that the pandemic is tightening its grip on the economy.
By Associated Press, Wire Service Content Dec. 10, 2020, at 4:59 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

U.S. stock indexes closed mostly lower Thursday following more evidence that the pandemic is tightening its grip on the economy while Congress remains in a stalemate over how to do something about it.

The S&P 500 slipped 0.1% after flipping between gains and losses in the early going. The index is within 1% of its all-time high set on Tuesday. Some 60% of the companies in the S&P 500 fell, led by declines in industrial and communication services stocks. Those losses outweighed gains in energy, technology and financial companies.

Treasury yields fell following a report that showed 853,000 U.S. workers applied for unemployment benefits last week. That was more than economists expected and an acceleration from the prior week. It’s also the latest reminder that the pandemic is doing more damage to the economy in the near term, even if prospects are rising that a COVID-19 vaccine will get the economy healthy in the longer term.

Economists and investors have been imploring Congress to deliver more financial support in the meantime, to help carry the economy until it can stand on its own. After months of partisan bickering and no progress on Capitol Hill, momentum seemed to swing higher recently for a deal, but talks are still mired in deep uncertainty.

On Thursday, Treasury Secretary Steven Mnuchin reported headway in talks over President Donald Trump’s latest $900 billion-plus plan. But, Democrats and Republicans are still at odds over the size and scope of any deal.

“There's nothing really new there, except now you've got some softening economic data,” said Paul Christopher, head of global market strategy at Wells Fargo Investment Institute

The S&P 500 fell 4.72 points to 3,668.10. The Dow Jones Industrial Average dropped 69.55 points, or 0.2%, to 29,999.26. The Nasdaq composite rose 66.85 points, or 0.5%, to 12,405.81.

Small company stocks continued to do better than the broader market. The Russell 2000 climbed 20.56, or 1.1%, to 1,922.70, a record high.

Stocks have been climbing to new heights in recent weeks on hopes that the distribution of one or more coronvairus vaccines will put the pandemic-ravaged economy on the path to recovery. But Thursday's discouraging report on joblessness adds to worries that the economy is in for more pain, especially in the wake of a surge in new coronavirus cases in many parts of the U.S.

The market sometimes rallies following discouraging economic data on the theory that the bad news might pressure Congress to deliver more aid for the economy. But in the face of uncertainty, though, trading was wobbly Thursday.

“In the broader market, people are waiting to see what happens with a stimulus package,” said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance.

Energy stocks, which often move with expectations for the economy's strength, notched the biggest gain among the 11 sectors that make up the S&P 500, at 2.9%. They rose with crude oil prices.

Starbucks gained 5% after the coffee chain backed its profit forecast for this fiscal year and said it expects “outsized growth” in the following one.

But industrial companies, whose stocks have been been tracking hopes for the economy, fell. United Parcel Service declined 2.9%.

The choppiness in the market is not unheard of, considering the stellar gains for stocks in November and uncertainty still lingering over the timing of vaccine distribution as virus cases rise, Christopher said.

“It’s not unusual to see some consolidation after a strong month like that,” he said.

Elsewhere in the market, shares of Airbnb soared 112.8% on their first day of trading. Interest has been high for the home sharing company, which has seen its business recover faster through the pandemic than hotels.

A day earlier, another San Francisco-based company, DoorDash, soared nearly 86% in the first day of trading for its stock.

In Europe, stock markets were subdued even though the European Central Bank delivered another half-trillion of euros ($600 billion) in stimulus for the economy. Coronavirus counts are also spiraling higher on the continent, and its central bank is promising to buy more bonds to push the economy along. Asian markets made modest moves.

The yield on the 10-year Treasury fell to 0.90% from 0.93% late Wednesday. A government report released Thursday morning showed that inflation was slightly stronger last month than economists expected, though it remains modest.


----------



## bigdog

*Stocks extend losses as virus aid languishes in Congress*

U.S. stock indexes pulled further away from their recent highs Friday as prospects for another aid package from Washington faded while a surge in virus cases threatens to inflict more damage on an already battered economy.

The S&P 500 slipped 0.1%, its third-straight decline since it set a record high on Tuesday. The benchmark index ended the week 1% lower after two weeks of solid gains. Losses in financial, technology, health care and other sectors outweighed gains in communication services stocks, industrial companies and elsewhere. Treasury yields fell broadly, a signal that traders were seeking to lessen their exposure to riskier holdings.

The latest bout of selling, which eased toward the end of the day, came as investors continue to hope for Washington to come through with another financial lifeline for people, businesses and state governments struggling as the coronavirus pandemic worsens. But an emerging $900 billion aid package from a bipartisan group of lawmakers has essentially collapsed because of continued partisan bickering.

“We still don’t have a deal in Congress for a rescue package,” said Randy Frederick, vice president of trading and derivatives at Charles Schwab. “If it doesn’t happen, the market could struggle.”

The S&P 500 slipped 4.64 points to 3,663.46. The index had been down 34 points in the early going. The Dow Jones Industrial Average got a boost from Disney, which hit a new high. The index rose 47.11 points, or 0.2%, to 30,046.37. The tech-heavy Nasdaq lost 27.94 points, or 0.2%, to 12,377.87.

Small company stocks, which have been making solid gains this month, also fell. The Russell 2000 small-cap index gave up 11.01 points, or 0.6%, to 1,911.70.

Technology companies and banks led the decline. Apple fell 0.7% and Bank of America dropped 1.9%.

Disney jumped 13.6%, a record high and the biggest gain in the S&P 500, after giving investors an encouraging update on subscriber growth and future plans for its Disney Plus streaming service.

Stocks have been climbing over the last few weeks as advances in vaccine development raised hopes that the pandemic could be tamed in the coming months and set the global economy on a path to normalcy.

“The excitement over the vaccine has already been priced in and the market is fairly overbought, based on where we are in the economy right now,” said Kenny Polcari, managing partner at Kace Capital Advisors.











https://apnews.com/article/financia...ong-shanghai-508a9d07ebf6051bef6d46d445343ae3

*Stocks extend losses as virus aid languishes in Congress*

By DAMIAN J. TROISE and ALEX VEIGA

U.S. stock indexes pulled further away from their recent highs Friday as prospects for another aid package from Washington faded while a surge in virus cases threatens to inflict more damage on an already battered economy.

The S&P 500 slipped 0.1%, its third-straight decline since it set a record high on Tuesday. The benchmark index ended the week 1% lower after two weeks of solid gains. Losses in financial, technology, health care and other sectors outweighed gains in communication services stocks, industrial companies and elsewhere. Treasury yields fell broadly, a signal that traders were seeking to lessen their exposure to riskier holdings.

The latest bout of selling, which eased toward the end of the day, came as investors continue to hope for Washington to come through with another financial lifeline for people, businesses and state governments struggling as the coronavirus pandemic worsens. But an emerging $900 billion aid package from a bipartisan group of lawmakers has essentially collapsed because of continued partisan bickering.

“We still don’t have a deal in Congress for a rescue package,” said Randy Frederick, vice president of trading and derivatives at Charles Schwab. “If it doesn’t happen, the market could struggle.”

The S&P 500 slipped 4.64 points to 3,663.46. The index had been down 34 points in the early going. The Dow Jones Industrial Average got a boost from Disney, which hit a new high. The index rose 47.11 points, or 0.2%, to 30,046.37. The tech-heavy Nasdaq lost 27.94 points, or 0.2%, to 12,377.87.

Small company stocks, which have been making solid gains this month, also fell. The Russell 2000 small-cap index gave up 11.01 points, or 0.6%, to 1,911.70.

Technology companies and banks led the decline. Apple fell 0.7% and Bank of America dropped 1.9%.

Disney jumped 13.6%, a record high and the biggest gain in the S&P 500, after giving investors an encouraging update on subscriber growth and future plans for its Disney Plus streaming service.

Stocks have been climbing over the last few weeks as advances in vaccine development raised hopes that the pandemic could be tamed in the coming months and set the global economy on a path to normalcy.

“The excitement over the vaccine has already been priced in and the market is fairly overbought, based on where we are in the economy right now,” said Kenny Polcari, managing partner at Kace Capital Advisors.

The U.K. has already started vaccinating people with Pfizer and BioNTech’s vaccine. A U.S. government advisory panel on Thursday endorsed widespread use of that vaccine, putting the country just one step away from launching an epic vaccination campaign against the outbreak that has killed close to 300,000 Americans.

Widespread vaccination will take months and the virus pandemic is prompting tighter restrictions on businesses. An already slow economic recovery appears to be stalling in the wake of the latest surge and unemployment is rising.

Polcari said markets are simply churning and consolidating following a strong November and he expects that to continue through December as stimulus talks continue. Wall Street is also waiting for a special election in Georgia in early January, which could potentially switch the balance of power in the U.S. Senate.

European stocks slipped over the increased possibility that the U.K. and the European Union will fail to strike a deal on a new economic relationship heading into next year. Britain left the EU on Jan. 31 but has continued to follow the trading bloc’s rules during a transition period that lasts until the end of the year. A no-deal split would bring overnight tariffs and other economic barriers that would hurt both sides.

The yield on the 10-year Treasury held steady at 0.89%.

European markets ended lower, while Asian markets closed mixed.


----------



## bigdog

*ASX futures pointing slightly lower.*

It looks set to be a subdued start to the week for the Australian share market. According to the latest SPI futures, the ASX 200 is poised to open the week a single point lower this morning. This follows a mixed end to the week on Wall Street. On Friday night the Dow Jones rose 0.15%, the S&P 500 fell 0.15%, and the Nasdaq dropped 0.2%.


----------



## bigdog

*U.S. Stocks End Mostly Lower After an Early Rally Evaporates*

Stocks closed mostly lower on Wall Street Monday after an early rally faded, extending the market's recent pullback from record highs.

The S&P 500 fell 0.4% after having been up 0.9% in the early going. The reversal handed the benchmark index its fourth straight decline, something that hasn't happened since September. Losses in the financial, industrial and health care sectors accounted for much of the decline, outweighing gains by technology stocks and companies that rely on consumer spending. Treasury yields were mostly higher, a sign of optimism in the economy.

Stocks initially headed higher as Americans began receiving the country’s first vaccinations against COVID-19, a process that's expected to take months. Meanwhile, investors are still waiting to see whether Congress can break a logjam on delivering more aid to people, businesses and local governments affected by the coronavirus pandemic. They're also monitoring talks on reaching a trade deal between Britain and the European Union.

“To a large degree, we’re in a wait-and-see mode,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. “The good news is the vaccine is being distributed, which suggests we’re on the road to recovery.”

The S&P 500 fell 15.97 points to 3,647.49. The index declined 1% last week, its worst weekly performance since Halloween.

The Dow Jones Industrial Average dropped 184.82 points, or 0.6%, to 29,861.55. The Nasdaq rose 62.17 points, or 0.5%, to 12,440.04. Smaller companies held up better than their larger rivals, an indication that investors are feeling more confident about the economy’s prospects. The Russell 2000 index gained 2.16 points, or 0.1%, to 1,913.86.

Hospital workers are unloading the first batches of a coronavirus vaccine developed by Pfizer and its German partner, BioNTech, following its approval for emergency use by U.S. regulators. Health care workers and nursing home residents will be first in line for vaccinations, and the hope in markets is that a wider rollout next year will help pull the economy back toward normal following its devastation this year.

Such optimism has helped Wall Street's rally broaden out beyond Big Tech stocks, which were pulling the market higher almost singlehandedly earlier in the pandemic, though Monday's pullback dragged down many of the companies that desperately need the economy to get healthier and reopen. American Airlines dropped 2.1%, while Carnival slid 1.8%. Marriott International gave up 1.5%.

Alexion Pharmaceuticals soared 29.2% for the biggest gain in the S&P 500. It’s the first trading day for the stock since AstraZeneca said on Saturday that it would buy the company for $39 billion in cash and stock.

Of course, the hopes for the economy in the future are tempered by the worsening pandemic in the present. Surging coronavirus counts have forced a downshift to the economy’s momentum, including last week’s worse-than-expected report on joblessness. The increasing death toll is pushing governments around the world to bring back varying degrees of restrictions on companies, and it’s also scaring potential customers away from businesses on its own.

To help in the interim, economists and investors have been asking Congress to deliver another round of financial support for the economy. Democratic and Republican legislators have been discussing a bipartisan possibility, which has raised hopes on Wall Street recently. But bitter partisanship has prevented a deal for months, and a deep divide still dominates on Capitol Hill.

*ASX 200 expected to edge higher.*

The Australian share market looks set to start the day slightly higher. According to the latest SPI futures, the ASX 200 is poised to open the day 3 points higher this morning. This follows a reasonably mixed start to the week on Wall Street. At closing the Down Jones fell 0.62%, the S&P 500 was down 0.44%, and the Nasdaq was higher 0.5%.










https://www.usnews.com/news/busines...rend-higher-japan-data-offsets-wall-st-losses

*U.S. Stocks End Mostly Lower After an Early Rally Evaporates*
Stocks ended mostly lower on Wall Street Monday after an early rally evaporated.
By Associated Press, Wire Service Content Dec. 14, 2020, at 4:52 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks closed mostly lower on Wall Street Monday after an early rally faded, extending the market's recent pullback from record highs.

The S&P 500 fell 0.4% after having been up 0.9% in the early going. The reversal handed the benchmark index its fourth straight decline, something that hasn't happened since September. Losses in the financial, industrial and health care sectors accounted for much of the decline, outweighing gains by technology stocks and companies that rely on consumer spending. Treasury yields were mostly higher, a sign of optimism in the economy.

Stocks initially headed higher as Americans began receiving the country’s first vaccinations against COVID-19, a process that's expected to take months. Meanwhile, investors are still waiting to see whether Congress can break a logjam on delivering more aid to people, businesses and local governments affected by the coronavirus pandemic. They're also monitoring talks on reaching a trade deal between Britain and the European Union.

“To a large degree, we’re in a wait-and-see mode,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. “The good news is the vaccine is being distributed, which suggests we’re on the road to recovery.”

The S&P 500 fell 15.97 points to 3,647.49. The index declined 1% last week, its worst weekly performance since Halloween.

The Dow Jones Industrial Average dropped 184.82 points, or 0.6%, to 29,861.55. The Nasdaq rose 62.17 points, or 0.5%, to 12,440.04. Smaller companies held up better than their larger rivals, an indication that investors are feeling more confident about the economy’s prospects. The Russell 2000 index gained 2.16 points, or 0.1%, to 1,913.86.

Hospital workers are unloading the first batches of a coronavirus vaccine developed by Pfizer and its German partner, BioNTech, following its approval for emergency use by U.S. regulators. Health care workers and nursing home residents will be first in line for vaccinations, and the hope in markets is that a wider rollout next year will help pull the economy back toward normal following its devastation this year.

Such optimism has helped Wall Street's rally broaden out beyond Big Tech stocks, which were pulling the market higher almost singlehandedly earlier in the pandemic, though Monday's pullback dragged down many of the companies that desperately need the economy to get healthier and reopen. American Airlines dropped 2.1%, while Carnival slid 1.8%. Marriott International gave up 1.5%.

Alexion Pharmaceuticals soared 29.2% for the biggest gain in the S&P 500. It’s the first trading day for the stock since AstraZeneca said on Saturday that it would buy the company for $39 billion in cash and stock.

Of course, the hopes for the economy in the future are tempered by the worsening pandemic in the present. Surging coronavirus counts have forced a downshift to the economy’s momentum, including last week’s worse-than-expected report on joblessness. The increasing death toll is pushing governments around the world to bring back varying degrees of restrictions on companies, and it’s also scaring potential customers away from businesses on its own.

To help in the interim, economists and investors have been asking Congress to deliver another round of financial support for the economy. Democratic and Republican legislators have been discussing a bipartisan possibility, which has raised hopes on Wall Street recently. But bitter partisanship has prevented a deal for months, and a deep divide still dominates on Capitol Hill.

Even without another round of stimulus, investors are facing a robust environment heading into next year that includes low inflation and an accommodative Federal Reserve.

“The market is prepping itself for a really good year in 2021 with earnings starting to kick in during the second and third quarter,” said Marc Chaikin, founder of Chaikin Analytics.

Across the Atlantic, hope was rising that talks are making progress in what has been just as frustrating as the stalemate in Washington, a potential deal on the terms of the United Kingdom’s exit from the European Union.

The EU’s chief negotiator Michel Barnier said Monday he believes a trade agreement is possible following nine months of negotiations, now that remaining disputes have been whittled down to just two. Both sides are still teetering on the brink of a no-deal departure, though. They have committed to a final push ahead of Jan. 1, when a transitional period following Britain’s Jan. 31 departure from the bloc is to end.

Hope for a deal helped the value of the British pound rise against other currencies. European stock markets closed mostly higher, and Asian markets ended mostly lower.

The yield on the 10-year Treasury rose to 0.90% from 0.87% late Friday.


----------



## bigdog

*Stocks Climb on Wall Street, Breaking a 4-Day Losing Streak

Stocks closed broadly higher on Wall Street, breaking a four-day losing streak for the S&P 500.*

Stocks notched broad gains on Wall Street Tuesday as renewed optimism that Washington will deliver more aid to the struggling economy put investors in a buying mood.

The S&P 500 climbed 1.3%, snapping a four-day losing streak. Technology companies powered much of the rally, which helped push the tech-heavy Nasdaq composite to an all-time high. An index of small-company stocks also set a record high. Treasury yields rose.

Negotiations between Democrats and Republicans on another round of coronavirus relief have been dragging on for weeks. Fresh signs of cooperation Tuesday appeared to boost the market's confidence that Washington can get past its partisan divide and hammer out a deal. A bipartisan group of lawmakers unveiled a detailed proposal. Meanwhile, House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin held another round of talks.

“The most important thing is this idea of a fiscal stimulus package actually seeing some positive chance of being approved,” said Tom Martin, senior portfolio manager with Globalt Investments.

Also helping to steady the market were hopes for an improving economy next year as COVID-19 vaccines become widely distributed. A vaccine candidate developed by Moderna and the National Institutes of Health may be on the cusp of regulatory approval after the Food and Drug Administration said its preliminary analysis confirmed its safety and effectiveness. It would join the nation's first vaccine, which just began rolling out. Hundreds of hospital and health care facilities will get their first shipments Tuesday of the vaccine developed by Pfizer and BioNTech.

The S&P 500 rose 47.13 points to 3,694.62. The Dow Jones Industrial Average gained 337.76 points, or 1.1%, to 30,199.31. The Nasdaq climbed 155.02 points, or 1.3%, to 12,595.06. That eclipsed the index's last all-time high set a week ago.

About 90% of the companies in the benchmark S&P 500 notched gains, led by technology, financial and health care stocks.

Small-company stocks did especially well, a sign that investors are feeling more optimistic about prospects for the economy. The Russell 2000 index picked up 45.91 points, or 2.4%, to 1,959.76, a record high.

The Russell 2000 trailed the broader market for most of this year as investors bet that larger companies, especially Big Tech stocks, would be better suited to weather the economic fallout from the pandemic. Now it's up 17.5% for the year, while the S&P 500 is up 13.4%.

“Nobody wanted to reverse that trade until you started to be able to see the light at the end of the tunnel, and that happened when we started getting some real vaccine news that was positive,” Martin said.

Another big gain for Apple also helped to lift Wall Street. It’s the most influential stock in the S&P 500 because of the company's massive market value, and it rose 5% after a report from Japan’s Nikkei said it may produce more iPhones in the first half of 2021 than analysts had been expecting.

Much of the market’s focus remains on Washington, though, where a deep partisan divide has kept Congress from delivering another dose of financial support for the economy. Economists and investors have been clamoring for more aid for jobless workers and hard-hit industries, among other things, particularly as surging coronavirus counts pummel the economy again.

The number of U.S. workers applying for unemployment benefits is back on the rise, as governments around the country and world bring back varying degrees of restrictions on businesses. Even without lockdown orders, the fear is that the rising number of deaths will keep customers away from businesses.

*ASX 200 to rebound.*

It looks set to be a better day of trade for the Australian share market on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 35 points or 0.5% higher this morning. This follows a solid night on Wall Street: upon closing  the Dow Jones was up 1.13%, the S&P 500 up 1.29%, and the Nasdaq up 1.25%. Renewed stimulus hopes drove shares higher.











https://www.usnews.com/news/busines...cline-following-lackluster-day-on-wall-street

*Stocks Climb on Wall Street, Breaking a 4-Day Losing Streak*

*Stocks closed broadly higher on Wall Street, breaking a four-day losing streak for the S&P 500.*
By Associated Press, Wire Service Content Dec. 15, 2020, at 4:55 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks notched broad gains on Wall Street Tuesday as renewed optimism that Washington will deliver more aid to the struggling economy put investors in a buying mood.

The S&P 500 climbed 1.3%, snapping a four-day losing streak. Technology companies powered much of the rally, which helped push the tech-heavy Nasdaq composite to an all-time high. An index of small-company stocks also set a record high. Treasury yields rose.

Negotiations between Democrats and Republicans on another round of coronavirus relief have been dragging on for weeks. Fresh signs of cooperation Tuesday appeared to boost the market's confidence that Washington can get past its partisan divide and hammer out a deal. A bipartisan group of lawmakers unveiled a detailed proposal. Meanwhile, House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin held another round of talks.

“The most important thing is this idea of a fiscal stimulus package actually seeing some positive chance of being approved,” said Tom Martin, senior portfolio manager with Globalt Investments.

Also helping to steady the market were hopes for an improving economy next year as COVID-19 vaccines become widely distributed. A vaccine candidate developed by Moderna and the National Institutes of Health may be on the cusp of regulatory approval after the Food and Drug Administration said its preliminary analysis confirmed its safety and effectiveness. It would join the nation's first vaccine, which just began rolling out. Hundreds of hospital and health care facilities will get their first shipments Tuesday of the vaccine developed by Pfizer and BioNTech.

The S&P 500 rose 47.13 points to 3,694.62. The Dow Jones Industrial Average gained 337.76 points, or 1.1%, to 30,199.31. The Nasdaq climbed 155.02 points, or 1.3%, to 12,595.06. That eclipsed the index's last all-time high set a week ago.

About 90% of the companies in the benchmark S&P 500 notched gains, led by technology, financial and health care stocks.

Small-company stocks did especially well, a sign that investors are feeling more optimistic about prospects for the economy. The Russell 2000 index picked up 45.91 points, or 2.4%, to 1,959.76, a record high.

The Russell 2000 trailed the broader market for most of this year as investors bet that larger companies, especially Big Tech stocks, would be better suited to weather the economic fallout from the pandemic. Now it's up 17.5% for the year, while the S&P 500 is up 13.4%.

“Nobody wanted to reverse that trade until you started to be able to see the light at the end of the tunnel, and that happened when we started getting some real vaccine news that was positive,” Martin said.

Another big gain for Apple also helped to lift Wall Street. It’s the most influential stock in the S&P 500 because of the company's massive market value, and it rose 5% after a report from Japan’s Nikkei said it may produce more iPhones in the first half of 2021 than analysts had been expecting.

Much of the market’s focus remains on Washington, though, where a deep partisan divide has kept Congress from delivering another dose of financial support for the economy. Economists and investors have been clamoring for more aid for jobless workers and hard-hit industries, among other things, particularly as surging coronavirus counts pummel the economy again.

The number of U.S. workers applying for unemployment benefits is back on the rise, as governments around the country and world bring back varying degrees of restrictions on businesses. Even without lockdown orders, the fear is that the rising number of deaths will keep customers away from businesses.

Another round of financial support from Washington could help carry the economy through what’s expected to be a bleak winter, before vaccines help things get closer to normal next year.

Worries about the worsening pandemic and stop-and-start talks in Washington about support for the economy have made the market shaky in recent weeks. It earlier surged through November on hopes for coming COVID-19 vaccines and relief that the U.S. presidential election ended with a clear winner, Democrat Joe Biden. The electoral college confirmed Biden's victory on Monday.

Still, the S&P 500 remains near its record set a week ago. Massive efforts by the Federal Reserve have provided another huge underpinning, and the central bank begins its last policy meeting of the year on Tuesday. It will announce its decision on Wednesday after already cutting short-term interest rates to nearly zero and indicating it will keep them there for a while even if inflation rises above its target of 2%.

European markets mostly rose, while Asian markets ended mostly lower.

The yield on the 10-year Treasury rose to 0.91% from 0.88% late Monday.


----------



## bigdog

*S&P 500 Nears Record Following Stimulus Progress, Fed Moves*

The S&P 500 ticked up to the edge of its record Wednesday after the Federal Reserve pledged to keep buying bonds until the economy makes substantial progress from its virus-wracked state.

The S&P 500 ticked up to the edge of its record Wednesday after the Federal Reserve pledged to keep buying bonds until the economy makes substantial progress from its virus-wracked state.

In a mixed and muted day of trading, the S&P 500 rose 6.55 points, or 0.2%, to 3,701.17. It’s within roughly 1 point of its record set last week. The Dow Jones Industrial Average slipped 44.77 points, or 0.1%, to 30,154.54, and the Nasdaq composite rose 63.13, or 0.5%, to 12,658.19, setting a record for the second straight day.

Massive efforts by the Fed have helped underpin the market since the spring, and the central bank said Wednesday that it will buy at least $80 billion in Treasurys each month and $40 billion in agency mortgage-backed securities until “substantial further progress” has been made. It also said again that it would keep short-term interest rates at their record low of nearly zero, as it keeps the accelerator floored on its support for the economy.

But investors are more interested in what's happening across Washington, where Democrats and Republicans in Congress appear to be nearing a deal to deliver another dose of financial support for the economy. A deep partisan divide has stymied such a deal for months, but a rush of recent momentum has hopes rising that a compromise could be sealed soon to send direct payments of perhaps $600 to most Americans, among other things.

Economists, investors and even Fed officials have been saying such support is crucial, because the Fed's tools alone can help the economy only so much. The lower interest rates ushered in by the Fed can help goose home prices and stocks on Wall Street, for example, but they can't replace the paychecks lost by workers whose businesses have shut because of the pandemic.

The stakes are rising by the day for Congress to act. A report released Wednesday morning showed that retail sales sank 1.1% last month. It's the second straight month of weakness, a much worse showing than the 0.3% decline that economists expected and the latest evidence that the renewed wave of coronavirus infections is ripping more chunks out of the economy.

Restaurants posted sharp declines in sales, and the numbers may get only works. Just this week, restaurants in New York City were limited to outdoor dining, even as colder temperatures and snow arrive. Governments around the country and world are bringing back varying degrees of restrictions on businesses to slow the spread of the virus. Even without lockdowns, the rising death toll of the pandemic is scaring customers away from businesses and normal economic activity.

If Congress can indeed reach a deal, it could help carry the economy through what's expected to be a bleak winter, before one or more coronavirus vaccines can help the economy get closer to normal next year.

So far, Pfizer and partner BioNTech’s coronavirus shots have gained emergency approval, and health care workers are among the first in line to get it. The Food and Drug Administration has given a second vaccine a positive analysis, and the candidate developed by Moderna could be be on the cusp of regulatory approval itself.

Distribution of vaccines to the wider population will likely take months, but more vaccines on the market will speed up the process and get the economy back on a path to normalcy sooner.

“If markets can continue to look forward, that clearly bodes well,” said Jeff Buchbinder, equity strategist at LPL Financial.

While the long-term view for the economy and markets remains positive, investors are likely in for more volatility in the coming months.

“We could be in for a choppy January and February until we can get more people inoculated and really put this pandemic to bed,” Buchbinder said.

*ASX 200 to rise again.*

The Australian share market looks set to continue its rise on Thursday. According to the latest SPI futures, the ASX 200 is poised to open the day 27 points or 0.4% higher this morning. This is despite it being a reasonably mixed night of trade on Wall Street. The Dow Jones finished down  0.15%, the S&P 500 is up 0.18%, and the Nasdaq is up 0.50%.











https://www.usnews.com/news/busines...cks-advance-after-stimulus-talks-lift-wall-st

*S&P 500 Nears Record Following Stimulus Progress, Fed Moves*
The S&P 500 ticked up to the edge of its record Wednesday after the Federal Reserve pledged to keep buying bonds until the economy makes substantial progress from its virus-wracked state.
By Associated Press, Wire Service Content Dec. 16, 2020, at 4:31 p.m.

By DAMIAN J. TROISE and STAN CHOE, AP Business Writers

NEW YORK (AP) — The S&P 500 ticked up to the edge of its record Wednesday after the Federal Reserve pledged to keep buying bonds until the economy makes substantial progress from its virus-wracked state.

In a mixed and muted day of trading, the S&P 500 rose 6.55 points, or 0.2%, to 3,701.17. It’s within roughly 1 point of its record set last week. The Dow Jones Industrial Average slipped 44.77 points, or 0.1%, to 30,154.54, and the Nasdaq composite rose 63.13, or 0.5%, to 12,658.19, setting a record for the second straight day.

Massive efforts by the Fed have helped underpin the market since the spring, and the central bank said Wednesday that it will buy at least $80 billion in Treasurys each month and $40 billion in agency mortgage-backed securities until “substantial further progress” has been made. It also said again that it would keep short-term interest rates at their record low of nearly zero, as it keeps the accelerator floored on its support for the economy.

But investors are more interested in what's happening across Washington, where Democrats and Republicans in Congress appear to be nearing a deal to deliver another dose of financial support for the economy. A deep partisan divide has stymied such a deal for months, but a rush of recent momentum has hopes rising that a compromise could be sealed soon to send direct payments of perhaps $600 to most Americans, among other things.

Economists, investors and even Fed officials have been saying such support is crucial, because the Fed's tools alone can help the economy only so much. The lower interest rates ushered in by the Fed can help goose home prices and stocks on Wall Street, for example, but they can't replace the paychecks lost by workers whose businesses have shut because of the pandemic.

The stakes are rising by the day for Congress to act. A report released Wednesday morning showed that retail sales sank 1.1% last month. It's the second straight month of weakness, a much worse showing than the 0.3% decline that economists expected and the latest evidence that the renewed wave of coronavirus infections is ripping more chunks out of the economy.

Restaurants posted sharp declines in sales, and the numbers may get only works. Just this week, restaurants in New York City were limited to outdoor dining, even as colder temperatures and snow arrive. Governments around the country and world are bringing back varying degrees of restrictions on businesses to slow the spread of the virus. Even without lockdowns, the rising death toll of the pandemic is scaring customers away from businesses and normal economic activity.

If Congress can indeed reach a deal, it could help carry the economy through what's expected to be a bleak winter, before one or more coronavirus vaccines can help the economy get closer to normal next year.

So far, Pfizer and partner BioNTech’s coronavirus shots have gained emergency approval, and health care workers are among the first in line to get it. The Food and Drug Administration has given a second vaccine a positive analysis, and the candidate developed by Moderna could be be on the cusp of regulatory approval itself.

Distribution of vaccines to the wider population will likely take months, but more vaccines on the market will speed up the process and get the economy back on a path to normalcy sooner.

“If markets can continue to look forward, that clearly bodes well,” said Jeff Buchbinder, equity strategist at LPL Financial.

While the long-term view for the economy and markets remains positive, investors are likely in for more volatility in the coming months.

“We could be in for a choppy January and February until we can get more people inoculated and really put this pandemic to bed,” Buchbinder said.

In the bond market, Treasury yields initially climbed following the Fed's afternoon announcement, but they quickly receded. The yield on the 10-year Treasury rose to 0.92% from 0.91% late Tuesday. It was at 0.94% shortly after the Fed's announcement.

Bitcoin, the world's largest cryptocurrency, topped $20,000 for the first time.

Investors also have been encouraged by signs that the European Union and United Kingdom may finally broker a trade deal following the UK’s departure from the bloc. Germany’s DAX rose 1.5% and France’s CAC 40 gained 0.3%. The FTSE 100 in London rose 0.9%

Asian markets ended mostly higher.


----------



## bigdog

*Stocks reach record highs as investors hope for stimulus*

Major U.S. stock indexes climbed to new highs Thursday as investors remained optimistic that Washington will deliver another round of financial support for the economy and as vaccines begin slowly rolling out to the public.

The S&P 500 rose 0.6%, with technology and health care stocks powering much of the market’s broad rally. The index, which is a key benchmark for many 401(k) accounts, has now set 31 record highs this year. The Dow Jones Industrial Average and Nasdaq composite also hit new highs. Treasury yields moved broadly higher, a sign of bonds traders’ confidence in the economy.

Optimism that Congress will deliver more financial aid to people and businesses most hurt by the pandemic, and hopes that the rollout of coronavirus vaccinations will pave the way for an economic recovery next year have helped keep investors in a buying mood.

“Investors are being hopeful because of that, even though we’re seeing a widening lockdown threat from cities, states and countries,” said Sam Stovall, chief investment strategist at CFRA. “The market is traveling on an end-of-year autopilot, which should allow share prices to drift higher, unless we hit an unexpected pothole.”

The S&P 500 rose 21.31 points to 3,722.48. It’s the index’s third straight gain. The Dow picked up 148.83 points, or 0.5%, to 30,303.37. The Nasdaq extended its winning streak to a fourth day, gaining 106.56 points, or 0.8%, to 12,764.75.

Traders continued to bid up shares in smaller companies. That pushed the Russell 2000 small-caps index up 25.32 points, or 1.3%, to 1,978.05, a record high. The index is on track for a gain of 8.7% this month, while the S&P 500 is up 2.8%.

Wall Street has been more hopeful that Congress is getting closer to striking a deal that will give a financial lifeline to people and businesses. Democrats and Republicans have been locked in a partisan fight over the size and scope of any additional package, just as the economic recovery shows signs of stalling amid a surge in virus cases.

Stimulus cannot come soon enough for investors, and more importantly, for businesses like restaurants and theaters as well as the workers in those industries. The Labor Department, in another worrisome sign, reported that the number of Americans seeking unemployment benefits rose to 885,000 last week, the most since September. Unemployment has been edging higher and retail sales have been hurt as tighter restrictions squeeze people and businesses.

Investors received more encouragement from the Federal Reserve, which helped shore up the markets early in the pandemic. The central bank has again pledged to keep buying bonds until the economy makes substantial progress. Still, the Fed has said it can only do so much to tide over the economy and that more financial support from Washington is critical for a continued recovery.

Homebuilders rose Thursday following news from the Commerce Department that showed building permits and housing construction starts rose in November, despite the winter weather and pandemic. Lennar Corp. notched the biggest gain in the S&P 500, vaulting 7.6%. The Miami-based builder reported quarterly results on Wednesday that topped Wall Street’s forecasts. PulteGroup was rose up 5.4% and D.R. Horton gained 3.2%.

The gains on Thursday came from nearly every sector in the S&P 500, with the exception of the energy and telecommunications services. The real estate and materials sectors notched the biggest gains.

*ASX 200 futures pointing lower.*

The Australian share market looks set to end the week in a subdued manner. According to the latest SPI futures, the ASX 200 is poised to open the day 2 points lower. This is despite US stocks climbing higher overnight. On closing the Dow Jones was up 0.49%, the S&P 500 up 0.58%, and the Nasdaq up 0.84%










https://apnews.com/article/financia...rus-pandemic-46b9a41fb0eabdf8f8db57f0ca111bda

*Stocks reach record highs as investors hope for stimulus*

By DAMIAN J. TROISE, KEN SWEET and ALEX VEIGA

Major U.S. stock indexes climbed to new highs Thursday as investors remained optimistic that Washington will deliver another round of financial support for the economy and as vaccines begin slowly rolling out to the public.

The S&P 500 rose 0.6%, with technology and health care stocks powering much of the market’s broad rally. The index, which is a key benchmark for many 401(k) accounts, has now set 31 record highs this year. The Dow Jones Industrial Average and Nasdaq composite also hit new highs. Treasury yields moved broadly higher, a sign of bonds traders’ confidence in the economy.

Optimism that Congress will deliver more financial aid to people and businesses most hurt by the pandemic, and hopes that the rollout of coronavirus vaccinations will pave the way for an economic recovery next year have helped keep investors in a buying mood.

“Investors are being hopeful because of that, even though we’re seeing a widening lockdown threat from cities, states and countries,” said Sam Stovall, chief investment strategist at CFRA. “The market is traveling on an end-of-year autopilot, which should allow share prices to drift higher, unless we hit an unexpected pothole.”

The S&P 500 rose 21.31 points to 3,722.48. It’s the index’s third straight gain. The Dow picked up 148.83 points, or 0.5%, to 30,303.37. The Nasdaq extended its winning streak to a fourth day, gaining 106.56 points, or 0.8%, to 12,764.75.

Traders continued to bid up shares in smaller companies. That pushed the Russell 2000 small-caps index up 25.32 points, or 1.3%, to 1,978.05, a record high. The index is on track for a gain of 8.7% this month, while the S&P 500 is up 2.8%.

Wall Street has been more hopeful that Congress is getting closer to striking a deal that will give a financial lifeline to people and businesses. Democrats and Republicans have been locked in a partisan fight over the size and scope of any additional package, just as the economic recovery shows signs of stalling amid a surge in virus cases.

Stimulus cannot come soon enough for investors, and more importantly, for businesses like restaurants and theaters as well as the workers in those industries. The Labor Department, in another worrisome sign, reported that the number of Americans seeking unemployment benefits rose to 885,000 last week, the most since September. Unemployment has been edging higher and retail sales have been hurt as tighter restrictions squeeze people and businesses.

Investors received more encouragement from the Federal Reserve, which helped shore up the markets early in the pandemic. The central bank has again pledged to keep buying bonds until the economy makes substantial progress. Still, the Fed has said it can only do so much to tide over the economy and that more financial support from Washington is critical for a continued recovery.

Homebuilders rose Thursday following news from the Commerce Department that showed building permits and housing construction starts rose in November, despite the winter weather and pandemic. Lennar Corp. notched the biggest gain in the S&P 500, vaulting 7.6%. The Miami-based builder reported quarterly results on Wednesday that topped Wall Street’s forecasts. PulteGroup was rose up 5.4% and D.R. Horton gained 3.2%.

The gains on Thursday came from nearly every sector in the S&P 500, with the exception of the energy and telecommunications services. The real estate and materials sectors notched the biggest gains.

Treasury yields moved broadly higher. The yield on the 10-year Treasury rose to 0.93% from 0.90% late Wednesday.

European markets closed mixed, and Asian markets closed mostly higher.


----------



## bigdog

*US Stocks Slide From Records as Wait Continues for Congress*

U.S. stock indexes pulled back from their record levels Friday as the wait drags on to see if Congress can reach a deal to send more cash to struggling workers and businesses.

Wall Street capped a solid week of gains on a down note Friday as the wait drags on to see if Congress can reach a deal to send more cash to struggling workers and businesses.

The S&P 500 fell 0.4%, a day after it and other major indexes returned to record heights. The decline snapped a three-day winning streak for the benchmark index, but it still notched a 1.3% weekly gain that more than made up its prior week's loss.

Hope that Congress may be nearing a deal to offer more financial support for the economy has helped stocks set more record highs. The S&P clocked its 31st all-time high this year on Thursday. Enthusiasm about vaccines for COVID-19, which investors hope will get the economy back on the road to normalcy next year, has also fueled traders' optimism.

Friday's selling came on a particularly busy day on Wall Street. Index funds were expected to snap up more than $80 billion worth of shares in Tesla as they moved to rebalance their holdings for the quarter ahead of the electric car maker's entry into the S&P 500, effective Monday. In addition, Friday was also quadruple witching day, Wall Street-speak for the quarterly expiration of stock options and futures contracts, which forces traders to tie up loose ends in contracts they hold, leading to particularly heavy trading volume.

“This is an unusual day because we have Tesla entering the S&P and it’s quadruple witching day," said Andrew Slimmon, portfolio manager at Morgan Stanley Investment Management.

The S&P 500 index fell 13.07 points to 3,709.41. The Dow Jones Industrial Average lost 124.32 points, or 0.4%, to 30,179.05. The Nasdaq composite gave up 9.11 points, or 0.1%, to 12,755.64. The Russell 2000 dropped 8.06 points, or 0.4%, to 1,969.99.

Some 57% of the companies in the S&P 500 closed lower. Technology stocks, banks and companies that rely on consumer spending accounted for a big slice of the decline. They outweighed gains by household goods makers and materials stocks, among others.

Much of the market’s focus recently has been on Capitol Hill, where momentum has kicked back up for on-and-off-again talks for financial aid for the economy. Negotiations on nearly $1 trillion in relief had seemed to be on the brink of success, but a final agreement has yet to be sealed. The package could include benefits for laid-off workers and cash payments sent to most Americans.

Economists and investors say the need for such action is urgent, as the worsening pandemic tightens its chokehold on the economy. Reports this week showed that more workers are applying for jobless benefits and that sales for retailers slumped by more last month than economists expected.

The rising coronavirus counts and deaths are pushing governments around the world to bring back varying degrees of restrictions on businesses, and fear is keeping people and companies away from normal economic activity.

Wall Street’s hope is that Congress can approve big stimulus for the economy, which could carry it through what’s expected to be a dismal winter, before the widespread rollout of COVID-19 vaccines can help it begin to stand on its own next year.

Within the S&P 500, FedEx dropped 5.7% for one of the sharpest losses in the index, even though it reported stronger revenue and profit for its latest quarter than Wall Street expected. Analysts said some of the weakness may have been due to expectations simply building too high for the company, which has been a winner of the suddenly shop-from-home economy. FedEx also reported higher costs, including expenses for keeping workers safe from the coronavirus.

Shares of Tesla surged 6%. Roughly $4.6 trillion in investments directly mimics the index, and those funds will collectively be adding tens of billions of dollars of Tesla shares, which is set to become one of the 10 biggest stocks in the S&P 500.












https://www.usnews.com/news/busines...s-mixed-after-wall-st-record-on-stimulus-hope

*US Stocks Slide From Records as Wait Continues for Congress*

U.S. stock indexes pulled back from their record levels Friday as the wait drags on to see if Congress can reach a deal to send more cash to struggling workers and businesses.
By Associated Press, Wire Service Content Dec. 18, 2020, at 4:49 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

Wall Street capped a solid week of gains on a down note Friday as the wait drags on to see if Congress can reach a deal to send more cash to struggling workers and businesses.

The S&P 500 fell 0.4%, a day after it and other major indexes returned to record heights. The decline snapped a three-day winning streak for the benchmark index, but it still notched a 1.3% weekly gain that more than made up its prior week's loss.

Hope that Congress may be nearing a deal to offer more financial support for the economy has helped stocks set more record highs. The S&P clocked its 31st all-time high this year on Thursday. Enthusiasm about vaccines for COVID-19, which investors hope will get the economy back on the road to normalcy next year, has also fueled traders' optimism.

Friday's selling came on a particularly busy day on Wall Street. Index funds were expected to snap up more than $80 billion worth of shares in Tesla as they moved to rebalance their holdings for the quarter ahead of the electric car maker's entry into the S&P 500, effective Monday. In addition, Friday was also quadruple witching day, Wall Street-speak for the quarterly expiration of stock options and futures contracts, which forces traders to tie up loose ends in contracts they hold, leading to particularly heavy trading volume.

“This is an unusual day because we have Tesla entering the S&P and it’s quadruple witching day," said Andrew Slimmon, portfolio manager at Morgan Stanley Investment Management.

The S&P 500 index fell 13.07 points to 3,709.41. The Dow Jones Industrial Average lost 124.32 points, or 0.4%, to 30,179.05. The Nasdaq composite gave up 9.11 points, or 0.1%, to 12,755.64. The Russell 2000 dropped 8.06 points, or 0.4%, to 1,969.99.

Some 57% of the companies in the S&P 500 closed lower. Technology stocks, banks and companies that rely on consumer spending accounted for a big slice of the decline. They outweighed gains by household goods makers and materials stocks, among others.

Much of the market’s focus recently has been on Capitol Hill, where momentum has kicked back up for on-and-off-again talks for financial aid for the economy. Negotiations on nearly $1 trillion in relief had seemed to be on the brink of success, but a final agreement has yet to be sealed. The package could include benefits for laid-off workers and cash payments sent to most Americans.

Economists and investors say the need for such action is urgent, as the worsening pandemic tightens its chokehold on the economy. Reports this week showed that more workers are applying for jobless benefits and that sales for retailers slumped by more last month than economists expected.

The rising coronavirus counts and deaths are pushing governments around the world to bring back varying degrees of restrictions on businesses, and fear is keeping people and companies away from normal economic activity.

Wall Street’s hope is that Congress can approve big stimulus for the economy, which could carry it through what’s expected to be a dismal winter, before the widespread rollout of COVID-19 vaccines can help it begin to stand on its own next year.

The nation’s first coronavirus vaccine just began being administered this past week, and Vice President Mike Pence got a shot on live television Friday in hopes of assuring Americans that it’s safe. That vaccine was developed by Pfizer and BioNTech. A second vaccine from Moderna and the National Institutes of Health may also be on the brink of regulatory approval after a government advisory panel endorsed it on Thursday.

Of course, it will be months before most people will be able to get access to a vaccine, and the pandemic is likely to do even more damage in the interim.

Within the S&P 500, FedEx dropped 5.7% for one of the sharpest losses in the index, even though it reported stronger revenue and profit for its latest quarter than Wall Street expected. Analysts said some of the weakness may have been due to expectations simply building too high for the company, which has been a winner of the suddenly shop-from-home economy. FedEx also reported higher costs, including expenses for keeping workers safe from the coronavirus.

Shares of Tesla surged 6%. Roughly $4.6 trillion in investments directly mimics the index, and those funds will collectively be adding tens of billions of dollars of Tesla shares, which is set to become one of the 10 biggest stocks in the S&P 500.

Stock markets overseas made mostly modestly moves.

In Asia, some of the sharpest swings came from Hong Kong, where the Hang Seng index fell 0.7% and shares of Semiconductor Manufacturing International Corp. lost 5.2%. The U.S. Commerce Department said Friday it will restrict exports to China's top chipmaker, alleging it has ties to the military. The company has previously said it has no ties to the Chinese government

It's the latest escalation in trade tensions between the world's two largest economies.

Other Asian markets were mixed. European markets ended mostly lower.

In the bond market, the yield on the 10-year Treasury rose to 0.94% from 0.91% late Thursday.


----------



## bigdog

*ASX futures pointing lower.*

The Australian share market looks set to start the week in a cautious manner after an underwhelming finish to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the week 10 points or 0.15% lower this morning. On Friday night on the United States, the Dow Jones fell 0.4%, the S&P 500 dropped 0.35%, and the Nasdaq edged 0.1% lower.


----------



## bigdog

*Stocks Fall on Worries About Virus' Spread, but Pare Losses*
Stocks ended lower on Wall Street as a new, potentially more infectious strain of the coronavirus has countries around the world restricting travel from the United Kingdom, raising worries that the economy is about to take even worse punishment.

Stocks fell on Wall Street Monday, giving back some of their recent gains, as a new, potentially more infectious strain of the coronavirus in the United Kingdom raised worries that the global economy could be in for even more punishment.

The S&P 500 lost 0.4%, it's second straight decline after climbing to an all-time high on Thursday. The benchmark index pared its loss as the day progressed, however, recovering from an earlier 2% drop. Treasury yields mostly fell, a sign that investors are worried about the economy. Crude oil prices fell on worries about disappearing demand.

The selling came on a busy day of trading, with plenty of forces pushing and pulling the market. Thin trading ahead of a holiday-shortened week may also be exacerbating moves, analysts said.

News of a new and potentially more infectious strain of the coronavirus has countries around the world restricting travel from the United Kingdom. That has traders worried about the possible economic consequences should it spread to other countries or prove resistant to vaccines being distributed now.

“The market is focused on the restrictions in place in the U.K., with more and more of the U.K. being locked down, and whether or not this is going to happen in the U.S.," said Quincy Krosby, chief market strategist at Prudential Financial.

The S&P 500 fell 14.49 points to 3,694.92. The Dow Jones Industrial Average rose 37.40 points, or 0.1%, to 30,216.45 after erasing an earlier 423 point loss. The Nasdaq composite slipped 13.12 points, or 0.1%, to 12,742.52. The Russell 2000 small-cap index gained 0.34 points, or less than 0.1%, to 1,970.33.

Encouraging news out of Washington helped keep the selling in check. Congress finally appeared set to act on a $900 billion relief effort for the economy. House and Senate leaders were planning to vote Monday on the deal, which would include $600 in cash payments sent to most Americans, extra benefits for laid-off workers and other financial support.

Economists and investors have been clamoring for such aid for months, and a recent upswing in momentum for talks had stock prices rising in anticipation of a deal. Analysts said some traders may have been selling to lock in profits, with the compromise all but assured and prices close to the highest they’ve ever been. Even after Monday’s drop, the S&P 500 is back only to where it was earlier this month.

Monday is also the first day of trading for Tesla since joining the S&P 500 index. The electric-vehicle maker surged so much this year, nearly 731% as of Friday evening, that some critics say its price doesn’t make sense. But its inclusion in the benchmark index triggered $90.3 billion in trades, as the company instantly became the sixth-biggest in the S&P 500. Tesla slumped 6.5% Monday.

All the new restrictions on movement sent travel-related stocks on Wall Street lower. Cruise operator Carnival dropped 1.9%, Norwegian Cruise Line fell 1.6% and American Airlines lost 2.5%.

Stocks of energy producers were also weak on worries that heightened travel restrictions could mean even fewer airplane seats filled and fewer miles driven by automobiles.

Amid the market's few gainers was Nike, which rose 4.9% after reporting stronger revenue and profit for its latest quarter than analysts expected.

Financial stocks were another rare source of resilience, after the Federal Reserve said Friday that the 33 largest banks look healthy enough to survive a sharp downturn. The Fed also permitted buybacks of company stock, with some limits.

*ASX 200 expected to fall.*

The Australian share market looks set to drop lower on Tuesday. According to the latest SPI futures, the ASX 200 is poised to open the day 26 points or 0.4% lower this morning. This follows a mixed start to the week on Wall Street. On closing the Dow Jones is up 0.12%, the S&P 500 is down 0.39%, and the Nasdaq has fallen 0.1%.










https://www.usnews.com/news/busines...shares-skid-despite-us-economic-stimulus-deal

*Stocks Fall on Worries About Virus' Spread, but Pare Losses*
Stocks ended lower on Wall Street as a new, potentially more infectious strain of the coronavirus has countries around the world restricting travel from the United Kingdom, raising worries that the economy is about to take even worse punishment.
By Associated Press, Wire Service Content Dec. 21, 2020, at 4:54 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

Stocks fell on Wall Street Monday, giving back some of their recent gains, as a new, potentially more infectious strain of the coronavirus in the United Kingdom raised worries that the global economy could be in for even more punishment.

The S&P 500 lost 0.4%, it's second straight decline after climbing to an all-time high on Thursday. The benchmark index pared its loss as the day progressed, however, recovering from an earlier 2% drop. Treasury yields mostly fell, a sign that investors are worried about the economy. Crude oil prices fell on worries about disappearing demand.

The selling came on a busy day of trading, with plenty of forces pushing and pulling the market. Thin trading ahead of a holiday-shortened week may also be exacerbating moves, analysts said.

News of a new and potentially more infectious strain of the coronavirus has countries around the world restricting travel from the United Kingdom. That has traders worried about the possible economic consequences should it spread to other countries or prove resistant to vaccines being distributed now.

“The market is focused on the restrictions in place in the U.K., with more and more of the U.K. being locked down, and whether or not this is going to happen in the U.S.," said Quincy Krosby, chief market strategist at Prudential Financial.

The S&P 500 fell 14.49 points to 3,694.92. The Dow Jones Industrial Average rose 37.40 points, or 0.1%, to 30,216.45 after erasing an earlier 423 point loss. The Nasdaq composite slipped 13.12 points, or 0.1%, to 12,742.52. The Russell 2000 small-cap index gained 0.34 points, or less than 0.1%, to 1,970.33.

Encouraging news out of Washington helped keep the selling in check. Congress finally appeared set to act on a $900 billion relief effort for the economy. House and Senate leaders were planning to vote Monday on the deal, which would include $600 in cash payments sent to most Americans, extra benefits for laid-off workers and other financial support.

Economists and investors have been clamoring for such aid for months, and a recent upswing in momentum for talks had stock prices rising in anticipation of a deal. Analysts said some traders may have been selling to lock in profits, with the compromise all but assured and prices close to the highest they’ve ever been. Even after Monday’s drop, the S&P 500 is back only to where it was earlier this month.

Across the Atlantic, negotiators blew past a Sunday deadline set for talks on trade terms for the United Kingdom’s exit from the European Union. Investors have been fixed on the progress of those talks because a Brexit with no deal could cause massive disruptions for businesses on New Year’s Day.

Monday is also the first day of trading for Tesla since joining the S&P 500 index. The electric-vehicle maker surged so much this year, nearly 731% as of Friday evening, that some critics say its price doesn’t make sense. But its inclusion in the benchmark index triggered $90.3 billion in trades, as the company instantly became the sixth-biggest in the S&P 500. Tesla slumped 6.5% Monday.

U.K. Prime Minister Boris Johnson said Saturday that he was placing London and the southeast of England in a new level of restrictions after scientific advisers warned they detected a new variant of the coronavirus. There is no evidence that the new strain’s mutations make it more deadly, but it seems to infect more easily than others.

Two COVID-19 vaccines have already been approved for the United States, and regulators around the world have also either approved or are considering usage of the vaccines. Hope that widespread vaccinations will nurse the economy back to some semblance of normal has been a big reason for surging prices across markets worldwide.

For now, vaccinations are only for health care workers and other high-risk populations. It will be a while before a more widespread rollout can get life around the world closer to normal, and surging numbers of coronavirus counts and deaths in the meanwhile are setting the global economy up for a bleak few months.

The worries hit stock markets hardest in Europe, where France banned U.K. trucks from entering for a period of 48 hours. Other countries around the world also halted flights from the United Kingdom.

France’s CAC 40 fell 2.4%, and Germany’s DAX lost 2.8%. The FTSE 100 in London dropped 1.7%.

All the new restrictions on movement sent travel-related stocks on Wall Street lower. Cruise operator Carnival dropped 1.9%, Norwegian Cruise Line fell 1.6% and American Airlines lost 2.5%.

Stocks of energy producers were also weak on worries that heightened travel restrictions could mean even fewer airplane seats filled and fewer miles driven by automobiles.

Amid the market's few gainers was Nike, which rose 4.9% after reporting stronger revenue and profit for its latest quarter than analysts expected.

Financial stocks were another rare source of resilience, after the Federal Reserve said Friday that the 33 largest banks look healthy enough to survive a sharp downturn. The Fed also permitted buybacks of company stock, with some limits.

Goldman Sachs rose 6.1% after it said it expects to begin buying back its stock again next quarter. Goldman Sachs and Nike are two of the 30 stocks in the Dow, and their big moves higher helped the Dow hold up better than the broader stock market.

The yield on the 10-year Treasury held steady at 0.93%.


----------



## bigdog

*Stocks Drift Mostly Lower, Even as Nasdaq Sets Another High*

Stocks drifted to a mostly lower close on Wall Street Tuesday, even as more gains for technology companies pushed the Nasdaq to another all-time high.

The S&P 500 spent much of the day wavering between small gains and losses before finishing with a 0.2% loss, its third straight decline. About 65% of the companies in the index fell. Losses in communication services, financial and other companies accounted for much of the selling.

Those losses were kept in check by solid gains in small-company stocks, which did better than the rest of the market. Tech companies also rose, adding to the sector's blockbuster, 41% gain so far this year.

The mixed showing for stocks came as Congress finally approved a $900 billion rescue to carry the economy through what's likely to be a bleak winter. A couple of discouraging reports on the economy may have also weighed on the market. Trading was relatively thin ahead of the Christmas holiday later in the week.

The S&P 500 fell 7.66 points to 3,687.26. The Dow Jones Industrial Average slid 200.94 points, or 0.7%, to 30,015.51. The Nasdaq composite rose 65.40 points, or 0.5%, to 12,807.92, a record high. The Russell 2000 index of smaller companies also set a record high, gaining 19.55 points, or 1%, to 1,989.88.

After months of bickering, Congress approved a deal on Monday night to send $600 cash payments to most Americans, give $300 per week to laid-off workers and deliver other aid to businesses struggling under the weight of the pandemic. The bill is going to President Donald Trump’s desk for his signature.

The hope for investors is that such support can prop up the economy for the next several months, before a more widespread rollout of coronavirus vaccines can allow it to stand on its own. That expectation has been driving markets for a while, but a new worry is casting some doubt on it.

*ASX 200 to rebound.*

It looks set to be a much more positive day for the Australian share market on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 57 points or 0.9% higher this morning. This is despite a mixed night of trade on Wall Street.  On closing the Dow Jones was down 0.67%, the S&P 500 is down 0.21% and the Nasdaq is up 0.51%.











https://www.usnews.com/news/busines...xtend-losses-on-worries-about-spread-of-virus

*Stocks Drift Mostly Lower, Even as Nasdaq Sets Another High*
Stocks drifted to a mostly lower close on Wall Street Tuesday, even as more gains for technology companies pushed the Nasdaq to another all-time high.
By Associated Press, Wire Service Content Dec. 22, 2020, at 4:57 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

A listless day on Wall Street left stocks mostly lower Tuesday, even as more gains by technology companies pushed the Nasdaq to an all-time high.

The S&P 500 spent much of the day wavering between small gains and losses before finishing with a 0.2% loss, its third straight decline. About 65% of the companies in the index fell. Losses in communication services, financial and other companies accounted for much of the selling.

Those losses were kept in check by solid gains in small-company stocks, which did better than the rest of the market. Tech companies also rose, adding to the sector's blockbuster, 41% gain so far this year.

The mixed showing for stocks came as Congress finally approved a $900 billion rescue to carry the economy through what's likely to be a bleak winter. A couple of discouraging reports on the economy may have also weighed on the market. Trading was relatively thin ahead of the Christmas holiday later in the week.

The S&P 500 fell 7.66 points to 3,687.26. The Dow Jones Industrial Average slid 200.94 points, or 0.7%, to 30,015.51. The Nasdaq composite rose 65.40 points, or 0.5%, to 12,807.92, a record high. The Russell 2000 index of smaller companies also set a record high, gaining 19.55 points, or 1%, to 1,989.88.

After months of bickering, Congress approved a deal on Monday night to send $600 cash payments to most Americans, give $300 per week to laid-off workers and deliver other aid to businesses struggling under the weight of the pandemic. The bill is going to President Donald Trump’s desk for his signature.

The hope for investors is that such support can prop up the economy for the next several months, before a more widespread rollout of coronavirus vaccines can allow it to stand on its own. That expectation has been driving markets for a while, but a new worry is casting some doubt on it.

A new strain of the coronavirus has emerged, one that has caught hold in at least London and southern England. There’s no evidence that it’s more deadly, but it seems to spread more easily. Worries are high enough about it that countries around the world have restricted flights from London, raising concerns that more economy-punishing lockdowns may be on the way.

Helping to keep the worries in check was the CEO of BioNTech, the German company that developed a coronavirus vaccine with Pfizer. Ugur Sahin said it “is highly likely” that his company’s vaccine can protect against the new variant, though further studies are needed to be sure. His company's vaccine is one of two already approved for use in the United States. .

Even without the new coronavirus strain, the resurgent pandemic has already been dragging on the U.S. economy, which had roared to a record annualized pace of 33.4% growth during the summer. Two weaker reports on important areas of the economy added to the growing pile of discouraging data on Tuesday.

One showed that confidence among U.S. consumers dropped this month, and the reading was well below what economists had forecast. That’s discouraging for an economy driven largely by consumers spending. Another showed that even the red-hot housing market is slowing slightly. The reading on sales of previously occupied homes roughly matched economists’ expectations.

Such worries have caused momentum to slow for the stock market, which set record highs last week, after earlier surging on hopes that COVID-19 vaccines will trigger a return to normal for the economy next year and that Washington would approve big stimulus to tide the economy over until then.

Healthy gains for some of the S&P 500's most influential stocks helped limit the index's losses Tuesday. Apple rose 2.8%, for example. Because it's the biggest company in the index by market value, its movements carry more sway on the benchmark index than any other stock.

Travel-related companies were targets of some of the heaviest selling, again, amid worries about more restrictions on movement. Norwegian Cruise Line lost 6.9%, and American Airlines Group slid 3.9%.

CarMax fell 8.1%, the biggest decline in the S&P 500, despite reporting stronger profit and revenue for the latest quarter than analysts expected. It said that sales trended downward toward the end of the quarter as coronavirus cases mounted. It also said its stores open more than a year sold fewer used cars during the quarter than analysts expected.

European indexes regained some of their sharp drops from the day before, and stocks retreated in Asia.

The yield on the 10-year Treasury slipped to 0.92% from 0.93% late Monday.


----------



## bigdog

*S&P 500 Index Ticks Higher, Breaking a 3-Day Losing Streak*
Stocks managed small gains on Wall Street Wednesday following a mixed set of reports on the economy.

Stocks closed higher on Wall Street Wednesday, nudging the S&P 500 to its first gain in four days, as investors weighed a mixed set of reports on the economy.

The S&P 500 inched up 0.1% after shedding most of its gains from earlier in the day. The benchmark index remains on track for a weekly loss. Gains by financial, communication services, energy and other sectors were kept in check by declines elsewhere, including technology companies, which helped pulled the Nasdaq slightly lower.

Investors continued to bid up shares in smaller company stocks, driving the Russell 2000 small-cap index to its second straight all-time high.

An hour before trading began on Wall Street, the government released an avalanche of data on the economy that showed some optimistic signs and several disappointing ones. But the market seemed to largely shrug off the reports.

“The economic data is being largely discounted,” said J.J. Kinahan, chief strategist with TD Ameritrade. "It seems to be that the rollout of the vaccine for the coronavirus is starting to go pretty well, so that’s what’s giving people a lot of hope. At the end of the day that still remains the top story.”

The S&P 500 rose 2.75 points to 3,690.01. The benchmark index set a record high on Thursday and is up 14.2% so far this year. The Dow Jones Industrial Average added 114.32 points, or 0.4%, to 30,129.83. The Nasdaq composite fell 36.80 points, or 0.3%, to 12,771.11. The tech-heavy index has notched new highs 54 times this year as Big Tech companies have led the market higher.

The Russell 2000 index climbed above the 2,000-point mark for the first time. It gained 17.22 points, or 0.9%, to 2,007.10. The index has risen 10.3% this month, roughly half of its gain for far this year.

Overnight, Wall Street had seemed to be heading for a rockier day of trading. U.S. stock futures initially dropped after President Donald Trump said that he may not sign the $900 billion rescue for the economy that Congress just approved. But they eventually drifted upward as investors looked past the unexpected push back.

A mixed batch of economic data didn't keep the market from grinding higher Wednesday. The Labor Department said fewer U.S. workers filed for unemployment benefits last week. The number is still incredibly high compared with before the pandemic, but it was better than economists were expecting. It also meant at least a temporary halt to the increase in unemployment claims the economy had been suffering as the pandemic worsens and tightens its chokehold on the economy.

Another report said that orders for long-lasting goods strengthened by more than expected last month, a good sign for the nation’s manufacturers.

Other data reports were more grim, though. Consumers pulled back on their spending by more last month than economists expected. It was the first drop since April, and it’s a discouraging signal for an economy that’s driven mostly by consumer spending. A big reason was the sharp drop in incomes that Americans took in November, worse than economists had forecast.


*ASX 200 expected to rise again.*

The Australian share market looks set to end the shortened week on a positive note. According to the latest SPI futures, the ASX 200 is poised to open the day 53 points or 0.8% higher this morning. Stocks managed small gains on Wall Street Wednesday following a mixed set of reports on the economy and on closing saw  the Dow Jones up 0.38%, the S&P 500 up 0.07%, and the Nasdaq trading 0.29% lower.











https://www.usnews.com/news/busines...gain-after-trump-criticizes-economic-aid-bill

*S&P 500 Index Ticks Higher, Breaking a 3-Day Losing Streak*
Stocks managed small gains on Wall Street Wednesday following a mixed set of reports on the economy.
By Associated Press, Wire Service Content Dec. 23, 2020, at 4:56 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

Stocks closed higher on Wall Street Wednesday, nudging the S&P 500 to its first gain in four days, as investors weighed a mixed set of reports on the economy.

The S&P 500 inched up 0.1% after shedding most of its gains from earlier in the day. The benchmark index remains on track for a weekly loss. Gains by financial, communication services, energy and other sectors were kept in check by declines elsewhere, including technology companies, which helped pulled the Nasdaq slightly lower.

Investors continued to bid up shares in smaller company stocks, driving the Russell 2000 small-cap index to its second straight all-time high.

An hour before trading began on Wall Street, the government released an avalanche of data on the economy that showed some optimistic signs and several disappointing ones. But the market seemed to largely shrug off the reports.

“The economic data is being largely discounted,” said J.J. Kinahan, chief strategist with TD Ameritrade. "It seems to be that the rollout of the vaccine for the coronavirus is starting to go pretty well, so that’s what’s giving people a lot of hope. At the end of the day that still remains the top story.”

The S&P 500 rose 2.75 points to 3,690.01. The benchmark index set a record high on Thursday and is up 14.2% so far this year. The Dow Jones Industrial Average added 114.32 points, or 0.4%, to 30,129.83. The Nasdaq composite fell 36.80 points, or 0.3%, to 12,771.11. The tech-heavy index has notched new highs 54 times this year as Big Tech companies have led the market higher.

The Russell 2000 index climbed above the 2,000-point mark for the first time. It gained 17.22 points, or 0.9%, to 2,007.10. The index has risen 10.3% this month, roughly half of its gain for far this year.

Overnight, Wall Street had seemed to be heading for a rockier day of trading. U.S. stock futures initially dropped after President Donald Trump said that he may not sign the $900 billion rescue for the economy that Congress just approved. But they eventually drifted upward as investors looked past the unexpected push back.

Markets around the world were relatively buoyant. Many Asian and European stock markets also rose, while Treasury yields climbed. Thin trading in this holiday-shortened week could make market moves more erratic. So could investors looking to close out positions as the end of the year approaches.

“The market is just inclined to go higher," said Andrew Mies, chief investment officer at investment advisory firm 6 Meridien. "There’s a positive seasonal trend behind that. There’s obviously a tremendous momentum move that we’ve seen in the market over the last eight months and it just doesn’t seem like it wants to end.”

A mixed batch of economic data didn't keep the market from grinding higher Wednesday. The Labor Department said fewer U.S. workers filed for unemployment benefits last week. The number is still incredibly high compared with before the pandemic, but it was better than economists were expecting. It also meant at least a temporary halt to the increase in unemployment claims the economy had been suffering as the pandemic worsens and tightens its chokehold on the economy.

Another report said that orders for long-lasting goods strengthened by more than expected last month, a good sign for the nation’s manufacturers.

Other data reports were more grim, though. Consumers pulled back on their spending by more last month than economists expected. It was the first drop since April, and it’s a discouraging signal for an economy that’s driven mostly by consumer spending. A big reason was the sharp drop in incomes that Americans took in November, worse than economists had forecast.

The resurgent pandemic is pushing governments around the country and world to bring back varying degrees of restrictions on businesses. Those, plus lost sales for companies from customers scared to do business amid the pandemic, are dragging the economy down following its initial bounce-back from its springtime plunge. A new, potentially more infectious coronavirus strain identified in southern England is raising worries further.

The hope in markets had been that $900 billion in economic support that Congress approved Monday night could tide the economy over until widespread vaccinations could help the world begin a return to normal next year. The package includes one-time cash payments to most Americans, extra benefits for laid-off workers and other financial support.

But Trump said late Tuesday that he wants to see bigger cash payments going to most Americans, up to $2,000 for individuals. He also criticized other parts of the bill.

Wall Street's gains on Wednesday were modest but widespread. Stocks of companies that would benefit the most from a healthier economy were doing the heaviest lifting. Energy stocks rose 2.2% for the biggest gain among the 11 sectors that make up the S&P 500. Financial stocks were close behind, adding 1.6%.

The yield on the 10-year Treasury rose to 0.95% from 0.90% late Tuesday.


----------



## bigdog

To all, merry Xmas to you and your families and a happy New Year which will be better than 2020

*Stocks Close Higher in Holiday Shortened Week*

Stocks closed slightly higher on Christmas Eve, as investors went into the holiday weekend not bothered by President Donald Trump’s threat not to sign a major economic stimulus package approved by Congress this week.

Trading was extremely light in the abbreviated session ahead of the Christmas holiday. Trading on the New York Stock Exchange and the Nasdaq ended at 1 p.m. ET instead of the usual 4 p.m. ET. Volume was a less than half of a typical trading day.

The S&P 500 index closed up 13.05 points, or 0.4%, to 3703.06. Despite the gains, the index ended the week down 0.2%. Relatively safe investments like utilities and real estate were among the biggest gainers, while energy stocks fell.

The Dow Jones Industrial Average rose 70.04 points, or 0.2%, to 30,199.87 and the Nasdaq composite rose 33.62 points, or 0.3%, to 12,804.73.

Investors remain focused on Washington, where Democrats in Congress are expected to try to make alterations to the $900 billion COVID stimulus bill that President Trump has threatened to veto. Trump has asked for higher individual payments to Americans, something Democrats support but which is unlikely to get a vote in the Republican-held Senate.

The hope has been that Trump will back away from his veto threat and the stimulus package might tide the economy over until widespread vaccinations can help the world begin to return to normal.

Meanwhile the U.S. economy continues to deteriorate under widespread coronavirus outbreaks, infections and hospitalizations. The Labor Department said fewer U.S. workers filed for unemployment benefits last week. The number is still incredibly high compared with before the pandemic, but it was better than economists were expecting.

Other reports were grimmer. Consumers pulled back on their spending by more last month than economists expected, mainly because of a drop in income.

“Despite the churning of the Washington D.C. pond by vetoes, new votes, and overrides, Wall Street clearly believes something positive will float to the top of the barrel when the churning stops," Jeffrey Halley of Oanda said in a commentary to investors.











https://www.usnews.com/news/busines...ets-advance-after-s-p-500-snaps-losing-streak

*Stocks Close Higher in Holiday Shortened Week*
Stocks closed slightly higher on Christmas Eve, as investors went into the holiday weekend not bothered by President Donald Trump’s threat not to sign a major economic stimulus package approved by Congress this week.
By Associated Press, Wire Service Content Dec. 24, 2020, at 1:39 p.m.

NEW YORK (AP) — Stocks closed slightly higher on Christmas Eve, as investors went into the holiday weekend not bothered by President Donald Trump’s threat not to sign a major economic stimulus package approved by Congress this week.

Trading was extremely light in the abbreviated session ahead of the Christmas holiday. Trading on the New York Stock Exchange and the Nasdaq ended at 1 p.m. ET instead of the usual 4 p.m. ET. Volume was a less than half of a typical trading day.

The S&P 500 index closed up 13.05 points, or 0.4%, to 3703.06. Despite the gains, the index ended the week down 0.2%. Relatively safe investments like utilities and real estate were among the biggest gainers, while energy stocks fell.

The Dow Jones Industrial Average rose 70.04 points, or 0.2%, to 30,199.87 and the Nasdaq composite rose 33.62 points, or 0.3%, to 12,804.73.

Investors remain focused on Washington, where Democrats in Congress are expected to try to make alterations to the $900 billion COVID stimulus bill that President Trump has threatened to veto. Trump has asked for higher individual payments to Americans, something Democrats support but which is unlikely to get a vote in the Republican-held Senate.

The hope has been that Trump will back away from his veto threat and the stimulus package might tide the economy over until widespread vaccinations can help the world begin to return to normal.

Meanwhile the U.S. economy continues to deteriorate under widespread coronavirus outbreaks, infections and hospitalizations. The Labor Department said fewer U.S. workers filed for unemployment benefits last week. The number is still incredibly high compared with before the pandemic, but it was better than economists were expecting.

Other reports were grimmer. Consumers pulled back on their spending by more last month than economists expected, mainly because of a drop in income.

“Despite the churning of the Washington D.C. pond by vetoes, new votes, and overrides, Wall Street clearly believes something positive will float to the top of the barrel when the churning stops," Jeffrey Halley of Oanda said in a commentary to investors.


----------



## bigdog

*US Stocks Higher After Trump Signs $900B Aid Package*
Stocks were moderately higher Monday as Wall Street entered the final week of 2020.

Stocks began the final week of 2020 moderately higher after President Donald Trump signed a $900 billion economic aid package that helps reduce uncertainty amid the re-imposition of travel and business curbs in response to a new coronavirus variant.

The S&P 500 index was up 1% as of 2:50 p.m. Eastern. The Dow Jones Industrial Average rose 244 points, or 0.8%, to 30,442 and the Nasdaq composite was up 1%. The gains put the indexes on track to close at all-time highs.

Trump signed the measure, which also includes money for other government functions through September, despite expressing frustration that $600 payments to the public weren’t bigger. His signature helped to clear away uncertainty as reinstated travel and business curbs threaten to weigh on global economic activity.

“By and large, it’s a kind of broad-based optimism, so-far-so-good on the vaccine rollout, and the stimulus bill to bridge the gap,” said Ross Mayfield, investment strategist at Baird, “It’s really just a continuation of the broader strength that we’ve seen over the last couple of months.”

Stocks are getting a seasonal tailwind, too, Mayfield said. The market tends to climb in the final five days of trading in December and the first two trading days in January, a phenomenon known as the “Santa Claus rally.” Since 1950, the S&P 500 index has risen an average of 1.3% during those seven days.

Companies that were hit the hardest by the pandemic — restaurants, airlines and the cruise industry — were among the biggest gainers Monday. American Airlines was up 3.4%, Norwegian Cruise Lines rose 5.2% and Carnival gained 4.9%.

Technology and communication services stocks accounted for a big slice of the broad market rally. Apple climbed 3.8% and Facebook rose 3.1%.

Shares in Chinese e-commerce giant Alibaba Group rose 0.3%, recovering some of their losses after plunging last week when government regulators launched an anti-monopoly investigation and the stock market debut of Ant Group, an online finance platform in which Alibaba owns a 33% stake, was suspended.

*ASX futures pointing higher.*

The Australian share market looks set to start the week higher following a very positive night on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the week 32 points or 0.5% higher this morning. On closing Wall Street, the Dow Jones was up 0.68%, the S&P 500 has risen 0.87%, and the Nasdaq is up 0.74%.











https://www.usnews.com/news/busines...ks-advance-after-trump-signs-900b-aid-package

*US Stocks Higher After Trump Signs $900B Aid Package*
Stocks were moderately higher Monday as Wall Street entered the final week of 2020.

By Associated Press, Wire Service Content Dec. 28, 2020, at 2:54 p.m.

By ALEX VEIGA, AP Business Writer

Stocks began the final week of 2020 moderately higher after President Donald Trump signed a $900 billion economic aid package that helps reduce uncertainty amid the re-imposition of travel and business curbs in response to a new coronavirus variant.

The S&P 500 index was up 1% as of 2:50 p.m. Eastern. The Dow Jones Industrial Average rose 244 points, or 0.8%, to 30,442 and the Nasdaq composite was up 1%. The gains put the indexes on track to close at all-time highs.

Trump signed the measure, which also includes money for other government functions through September, despite expressing frustration that $600 payments to the public weren’t bigger. His signature helped to clear away uncertainty as reinstated travel and business curbs threaten to weigh on global economic activity.

“By and large, it’s a kind of broad-based optimism, so-far-so-good on the vaccine rollout, and the stimulus bill to bridge the gap,” said Ross Mayfield, investment strategist at Baird, “It’s really just a continuation of the broader strength that we’ve seen over the last couple of months.”

Stocks are getting a seasonal tailwind, too, Mayfield said. The market tends to climb in the final five days of trading in December and the first two trading days in January, a phenomenon known as the “Santa Claus rally.” Since 1950, the S&P 500 index has risen an average of 1.3% during those seven days.

Companies that were hit the hardest by the pandemic — restaurants, airlines and the cruise industry — were among the biggest gainers Monday. American Airlines was up 3.4%, Norwegian Cruise Lines rose 5.2% and Carnival gained 4.9%.

Technology and communication services stocks accounted for a big slice of the broad market rally. Apple climbed 3.8% and Facebook rose 3.1%.

Shares in Chinese e-commerce giant Alibaba Group rose 0.3%, recovering some of their losses after plunging last week when government regulators launched an anti-monopoly investigation and the stock market debut of Ant Group, an online finance platform in which Alibaba owns a 33% stake, was suspended.

Treasury yields were broadly higher, a sign of confidence in the economy. The 10-year Treasury yield, which can affect interest rates on mortgages and other consumer loans, was at 0.94%.

Trading is expected to be light this week, as most fund managers and investors have closed their books for the year. It will be another holiday-shortened week, with New Year's Day on Friday.

European indexes closed broadly higher, helped by more details about the European Union - United Kingdom trade deal as part of the U.K.'s exit from the trade bloc. Germany's DAX rose 1.5%, while the CAC-40 in France gained 1.2%.

In Asia, the Shanghai Composite Index rose less than 0.1% to 3,397.29 while the Nikkei 225 in Tokyo added 0.7% to 26,854.03.

The Hang Seng in Hong Kong declined 0.3% to 26,314.63 after e-commerce giant Alibaba Group announced it was expanding a share buyback from $6 billion to $10 billion.


----------



## bigdog

*US Stocks Fall as Investors Turn Cautious Following Records*
Stocks gave up an early gain and closed modestly lower on Wall Street, giving the S&P 500 is first loss in four days.

Stocks closed modestly lower on Wall Street Tuesday as investors turned cautious a day after major indexes closed at their latest record highs.

The S&P 500 slipped 0.2%, the benchmark index's first decline in four days. Investors shifted money away from technology companies, which have been among of the biggest winners since the pandemic began. Industrial and financial stocks also fell broadly. Those losses outweighed gains in health care stocks and companies that rely on consumer spending.

Small-company stocks, which have been the biggest gainers this month, fell more than the rest of the market, pulling the Russell 2000 index of smaller companies 1.8% lower. The index is still on track to end the month 7.7% higher, more than twice as much as the S&P 500.

“That segment is probably due for a little bit of a pullback given its outperformance,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.

The S&P 500 fell 8.32 points to 3,727.04. The Dow Jones Industrial Average dropped 68.30 points, or 0.2%, to 30,335.67. The tech-heavy Nasdaq slid 49.20 points, or 0.4%, to 12,850.22. The Russell 2000 gave up 36.89 points to 1,959.36.

The market’s pullback follows a strong, record-shattering run on Wall Street in recent weeks amid optimism that coronavirus vaccinations will pave the way in coming months for the economy to escape from the pandemic's grip. With two days of trading left in 2020, the S&P 500 is up 15.4% this year, while the Nasdaq is up 43.2%.

Wall Street set fresh records on Monday after President Donald Trump signed a wide-ranging spending bill that includes $900 billion in COVID-19 aid and reams of other legislation on taxes, energy, education and health care. Investors hope that the measures will help tide the economy over until more people get vaccinations and help it through its pandemic-induced slump.

“We’re kind of seeing the same thing we've been seeing, the dichotomy between where the financial markets are and where the actual economy is,” said Charlie Ripley, senior investment strategist for Allianz Investment Management.

The recent round of aid from Washington was mostly expected and it would have taken a much bigger package to really make markets jump, he said.

The only other pending set of business from Washington is whether Senate Republicans will pass President Trump's push to get $2,000 stimulus checks to Americans instead of the current $600. Senate Majority Leader Mitch McConnell on Tuesday blocked Democrats’ push to immediately bring President Donald Trump’s demand for bigger $2,000 COVID-19 relief checks up for a vote, saying the chamber would “begin a process” to address the issue.

Treasury yields moved higher Tuesday, a sign of confidence in the economy. The yield on the 10-year Treasury rose to 0.93% from 0.92% late Monday.

Trading has been thin as a tumultuous 2020 draws to a close. The market will be closed for New Year's Day Friday

*ASX 200 to drop lower.*

It looks set to be a much tougher day for the Australian share market on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 30 points or 0.45% lower this morning. This follows a subdued night of trade on Wall Street which on closing sees the Dow Jones down 0.22%, the S&P 500 down 0.22%, and the Nasdaq 0.38% lower










https://www.usnews.com/news/busines...kkei-at-30-year-high-after-trump-oks-stimulus

*US Stocks Fall as Investors Turn Cautious Following Records*
Stocks gave up an early gain and closed modestly lower on Wall Street, giving the S&P 500 is first loss in four days.
By Associated Press, Wire Service Content Dec. 29, 2020, at 4:38 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks closed modestly lower on Wall Street Tuesday as investors turned cautious a day after major indexes closed at their latest record highs.

The S&P 500 slipped 0.2%, the benchmark index's first decline in four days. Investors shifted money away from technology companies, which have been among of the biggest winners since the pandemic began. Industrial and financial stocks also fell broadly. Those losses outweighed gains in health care stocks and companies that rely on consumer spending.

Small-company stocks, which have been the biggest gainers this month, fell more than the rest of the market, pulling the Russell 2000 index of smaller companies 1.8% lower. The index is still on track to end the month 7.7% higher, more than twice as much as the S&P 500.

“That segment is probably due for a little bit of a pullback given its outperformance,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.

The S&P 500 fell 8.32 points to 3,727.04. The Dow Jones Industrial Average dropped 68.30 points, or 0.2%, to 30,335.67. The tech-heavy Nasdaq slid 49.20 points, or 0.4%, to 12,850.22. The Russell 2000 gave up 36.89 points to 1,959.36.

The market’s pullback follows a strong, record-shattering run on Wall Street in recent weeks amid optimism that coronavirus vaccinations will pave the way in coming months for the economy to escape from the pandemic's grip. With two days of trading left in 2020, the S&P 500 is up 15.4% this year, while the Nasdaq is up 43.2%.

Wall Street set fresh records on Monday after President Donald Trump signed a wide-ranging spending bill that includes $900 billion in COVID-19 aid and reams of other legislation on taxes, energy, education and health care. Investors hope that the measures will help tide the economy over until more people get vaccinations and help it through its pandemic-induced slump.

“We’re kind of seeing the same thing we've been seeing, the dichotomy between where the financial markets are and where the actual economy is,” said Charlie Ripley, senior investment strategist for Allianz Investment Management.

The recent round of aid from Washington was mostly expected and it would have taken a much bigger package to really make markets jump, he said.

The only other pending set of business from Washington is whether Senate Republicans will pass President Trump's push to get $2,000 stimulus checks to Americans instead of the current $600. Senate Majority Leader Mitch McConnell on Tuesday blocked Democrats’ push to immediately bring President Donald Trump’s demand for bigger $2,000 COVID-19 relief checks up for a vote, saying the chamber would “begin a process” to address the issue.

Treasury yields moved higher Tuesday, a sign of confidence in the economy. The yield on the 10-year Treasury rose to 0.93% from 0.92% late Monday.

Trading has been thin as a tumultuous 2020 draws to a close. The market will be closed for New Year's Day Friday.

European markets mostly rose. The French CAC 40 rose 0.4%, while the FTSE 100 was up 1.5%. The German DAX fell 0.2%.

In Tokyo, the Nikkei 225 jumped 2.7% to 27,568.15, the first time it has traded above 27,000 since August 1990, according to FactSet. The market hit its all-time peak close of 38,915.87 on Dec. 29, 1989.


----------



## qldfrog

bigdog said:


> In Tokyo, the Nikkei 225 jumped 2.7% to 27,568.15, the first time it has traded above 27,000 since August 1990, according to FactSet. The market hit its all-time peak close of 38,915.87 on Dec. 29, 1989.



Time in the market ROL


----------



## bigdog

*Stocks Hold on to Modest Gains, Marking Another Dow Record*
Stocks are closing modestly higher on Wall Street, keeping major indexes at or near record highs.

Stocks eked out modest gains Wednesday, keeping the major stock indexes on Wall Street at or near record highs.

The S&P 500 inched up 0.1%, recovering some of its losses from a day earlier. It's hovering within 0.1% of the record high it set on Monday. The Dow Jones Industrial Average closed just above its own all-time high from Monday.

Energy and materials companies led the gains. Industrial and financial stocks also had a strong showing. Communication services stocks fell the most. Roughly 73% of stocks in the S&P 500 rose. Treasury yields mostly fell.

Small-company stocks again outpaced their larger rivals, a sign that investors are feeling more optimistic about the economy.

Stocks have been mostly grinding higher in recent weeks, with indexes setting new highs, amid optimism that coronavirus vaccinations will pave the way in coming months for the economy to escape from the pandemic’s grip.

“This is overall a market that’s setting the stage for 2021 and looking at an economy that is going to normalize, albeit at a probably slower pace than initially projected," said Quincy Krosby, chief market strategist at Prudential Financial.

The S&P 500 index rose 5 points to 3,732.04. The Dow gained 73.89 points, or 0.2%, to 30,409.56. The Nasdaq composite picked up 19.78 points, or 0.2%, to 12,870. The Russell 2000 index of smaller companies climbed 20.63 points, or 1.1%, to 1,979.99.

Ahead of the final day of trading in 2020, the S&P 500 is up 15.5% this year, while the Nasdaq is up 43.4%.

The modest gains came as the effort to develop and distribute vaccines to fight the virus pandemic intensifies. Britain has authorized the use of a COVID-19 vaccine developed by AstraZeneca and Oxford University. The vaccine is considered easier to store and handle than others hitting the market. Earlier in December, both the U.K. and U.S. approved a vaccine made by Pfizer.

Meanwhile, vaccine development continues around the globe, with China’s Sinopharm becoming the latest to release encouraging study results.

Investors are optimistic about more vaccines gaining approval and reaching the market in coming weeks, though the potential for problems with their distribution remains a concern, said Ryan Detrick, chief market strategist for LPL Financial.


*ASX 200 futures pointing higher.*

The Australian share market looks set to bounce back on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 6 points or 0.1% higher this morning. This follows a positive night on Wall Street which on closing sees the Dow Jones up 0.24%, the S&P 500 up 0.13%, and the Nasdaq 0.15% higher.










https://www.usnews.com/news/busines...mixed-as-boost-from-us-stimulus-package-fades

*Stocks Hold on to Modest Gains, Marking Another Dow Record*
Stocks are closing modestly higher on Wall Street, keeping major indexes at or near record highs.
By Associated Press, Wire Service Content Dec. 30, 2020, at 4:40 p.m

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks eked out modest gains Wednesday, keeping the major stock indexes on Wall Street at or near record highs.

The S&P 500 inched up 0.1%, recovering some of its losses from a day earlier. It's hovering within 0.1% of the record high it set on Monday. The Dow Jones Industrial Average closed just above its own all-time high from Monday.

Energy and materials companies led the gains. Industrial and financial stocks also had a strong showing. Communication services stocks fell the most. Roughly 73% of stocks in the S&P 500 rose. Treasury yields mostly fell.

Small-company stocks again outpaced their larger rivals, a sign that investors are feeling more optimistic about the economy.

Stocks have been mostly grinding higher in recent weeks, with indexes setting new highs, amid optimism that coronavirus vaccinations will pave the way in coming months for the economy to escape from the pandemic’s grip.

“This is overall a market that’s setting the stage for 2021 and looking at an economy that is going to normalize, albeit at a probably slower pace than initially projected," said Quincy Krosby, chief market strategist at Prudential Financial.

The S&P 500 index rose 5 points to 3,732.04. The Dow gained 73.89 points, or 0.2%, to 30,409.56. The Nasdaq composite picked up 19.78 points, or 0.2%, to 12,870. The Russell 2000 index of smaller companies climbed 20.63 points, or 1.1%, to 1,979.99.

Ahead of the final day of trading in 2020, the S&P 500 is up 15.5% this year, while the Nasdaq is up 43.4%.

The modest gains came as the effort to develop and distribute vaccines to fight the virus pandemic intensifies. Britain has authorized the use of a COVID-19 vaccine developed by AstraZeneca and Oxford University. The vaccine is considered easier to store and handle than others hitting the market. Earlier in December, both the U.K. and U.S. approved a vaccine made by Pfizer.

Meanwhile, vaccine development continues around the globe, with China’s Sinopharm becoming the latest to release encouraging study results.

Investors are optimistic about more vaccines gaining approval and reaching the market in coming weeks, though the potential for problems with their distribution remains a concern, said Ryan Detrick, chief market strategist for LPL Financial.

“The hiccups are the actual rollout,” he said. “Approving them is one thing, but getting them out and into people’s arms is another thing.”

Treasury yields were mostly lower. The yield on the 10-year Treasury slipped to 0.92% from 0.93% late Tuesday.

Stock markets in Europe closed lower after European Union officials and British lawmakers approved a separation deal that will govern trade and other relations after the year ends. The U.K. left the EU almost a year ago, but remained within the bloc’s economic embrace during a transition period that ends this year.

Britain’s FTSE 100 fell 0.7% and Germany’s DAX slipped 0.3%. The CAC 40 in Paris dropped 0.2%.

Markets in Asia closed mostly higher, though Japan’s Nikkei fell 0.5% as the Tokyo exchange marked the end of trading for the year.

Traders in cryptocurrencies continued to push up the price of bitcoin, which has more than doubled the past three months. It rose 5.4% to $28,635, according to the tracking site CoinDesk. Bitcoin futures on the Chicago Mercantile Exchange climbed 6.5% to $28,970. The futures allow investors to make bets on the future price of the digital currency.

Trading volume on Wall Street has been thin in the final week of 2020. The market will be closed for New Year’s Day Friday.


----------



## bigdog

*S&P 500 Ends at Another Record High as Tumultuous 2020 Ends*
The S&P 500 and the Dow Jones Industrial Average ended 2020 at more record highs Thursday, closing out one of the most tumultuous years in recent memory.

Wall Street closed out a tumultuous year for stocks with more record highs Thursday, a fitting coda to the market’s stunning comeback from its historic plunge in the early weeks of the coronavirus pandemic.

The benchmark S&P 500 index finished with a gain of 16.3% for the year, or a total return of about 18.4%, including dividends. The Nasdaq composite, powered by high-flying Big Tech stocks, soared 43.6%. The Dow Jones Industrial Average gained 7.2%, with Apple and Microsoft leading the way.

The market’s milestone-setting finish follows a mostly upward grind for stocks in recent weeks, fueled by cautious optimism that the U.S. economy and corporate profits will bounce back in 2021 now that the distribution of COVID-19 vaccines is under way.

“We came into the year expecting slow growth and it turned out to be the fastest bear market recovery in history,” said Sunitha Thomas, national portfolio advisor at Northern Trust Wealth Management.

The virus pandemic shocked markets early in the year. The S&P 500 fell 8.4% in February, then plunged 12.5% in March as the pandemic essentially froze the global economy. Businesses shut down in the face of the virus threat and tighter government restrictions. People shifted to working, shopping and doing pretty much everything else from home.

The dire economic situation weighed heavily on almost any company that relied on direct consumer spending or a physical presence, including airlines, restaurants, hotels and mall-based retailers.

Volatility spiked. The Dow had several day-to-day swings of about 2,000 points. And the S&P 500 rose or fell by at least 1% on twice as many days in 2020 than it did, on average, since 1950.

The VIX, which measures how much volatility investors expect from the S&P 500, climbed to a record high 82.69 in March and remained above its historical average for much of the year.

The wave of selling accelerated as the economic fallout from the pandemic widened, leaving many long-term investors looking on as their gains after a blockbuster 2019 for stocks evaporated. Five months later, the market recouped all of its losses.

“It was probably very hard to imagine getting those back in such a short period fo time,” said Shawn Cruz, senior market strategist at TD Ameritrade.

Wall Street's recovery was due in large part to unprecedented actions from the Federal Reserve and Congress to support the economy. Investors also flocked to big technology companies such as Apple and Amazon and smaller companies like Grubhub and Etsy that were poised to take advantage of the shift to working and shopping from home.

The S&P 500 jumped 12.7% in April. From there, markets disconnected from the rest of the still-reeling economy and pushed higher in fits and starts as vaccine development progressed and analysts and economists looked ahead to the eventual end of the pandemic.

The market’s turnaround was faster than anyone might have expected in March, when the S&P 500′s nearly 11-year bull-market run ended. By August, the index had recovered all of its losses and climbed to new highs, rewarding investors who had stuck it out. All told, the S&P 500 set 33 record highs in 2020.

“It was another reminder that unless you have a foolproof market timing technique the adage to remember is it’s always better buy than bail,” said Sam Stovall, chief investment strategist at CFRA.

“There’s a good possibility that we get a deep pullback — pullbacks being 5%-10% — or maybe a shallow correction,” he said. “Enough to remind investors that share prices don’t go up forever.”

Markets were mostly quiet on the final day of trading for the year. Several overseas markets were closed for holidays, and U.S. markets will be closed for New Years Day on Friday.

The S&P 500 rose 24.03 points, or 0.6%, to 3,756.07, an all-time high. The Dow rose 196.92 points, or 0.7%, to 30,606.48, a record high. The Nasdaq rose 18.28 points, or 0.1%, to 12,888.28.

The Russell 2000 index of smaller companies fell 5.14 points, or 0.3%, to 1,974.86. Smaller companies notched strong gains in recent weeks after lagging in the early months of the broader market rebound. The Russell 2000 ended the year with a gain of 18.4%.

*ASX 200 expected to tumble.*

The Australian share market looks set to start the year in a disappointing fashion. According to the latest SPI futures, the ASX 200 is poised to open the week 80 points or 1.2% lower this morning. This is despite a positive finish to the year on Wall Street, which saw the Dow Jones rise 0.65%, the S&P 500 climb 0.65%, and the Nasdaq push 0.15% higher. This led to the Dow Jones finishing the year at a record high.










https://www.usnews.com/news/busines...-closed-for-holiday-other-asian-indexes-mixed

*S&P 500 Ends at Another Record High as Tumultuous 2020 Ends*
The S&P 500 and the Dow Jones Industrial Average ended 2020 at more record highs Thursday, closing out one of the most tumultuous years in recent memory.

By Associated Press, Wire Service Content Dec. 31, 2020, at 7:17 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street closed out a tumultuous year for stocks with more record highs Thursday, a fitting coda to the market’s stunning comeback from its historic plunge in the early weeks of the coronavirus pandemic.

The benchmark S&P 500 index finished with a gain of 16.3% for the year, or a total return of about 18.4%, including dividends. The Nasdaq composite, powered by high-flying Big Tech stocks, soared 43.6%. The Dow Jones Industrial Average gained 7.2%, with Apple and Microsoft leading the way.

The market’s milestone-setting finish follows a mostly upward grind for stocks in recent weeks, fueled by cautious optimism that the U.S. economy and corporate profits will bounce back in 2021 now that the distribution of COVID-19 vaccines is under way.

“We came into the year expecting slow growth and it turned out to be the fastest bear market recovery in history,” said Sunitha Thomas, national portfolio advisor at Northern Trust Wealth Management.

The virus pandemic shocked markets early in the year. The S&P 500 fell 8.4% in February, then plunged 12.5% in March as the pandemic essentially froze the global economy. Businesses shut down in the face of the virus threat and tighter government restrictions. People shifted to working, shopping and doing pretty much everything else from home.

The dire economic situation weighed heavily on almost any company that relied on direct consumer spending or a physical presence, including airlines, restaurants, hotels and mall-based retailers.

Volatility spiked. The Dow had several day-to-day swings of about 2,000 points. And the S&P 500 rose or fell by at least 1% on twice as many days in 2020 than it did, on average, since 1950.

The VIX, which measures how much volatility investors expect from the S&P 500, climbed to a record high 82.69 in March and remained above its historical average for much of the year.

The wave of selling accelerated as the economic fallout from the pandemic widened, leaving many long-term investors looking on as their gains after a blockbuster 2019 for stocks evaporated. Five months later, the market recouped all of its losses.

“It was probably very hard to imagine getting those back in such a short period fo time,” said Shawn Cruz, senior market strategist at TD Ameritrade.

Wall Street's recovery was due in large part to unprecedented actions from the Federal Reserve and Congress to support the economy. Investors also flocked to big technology companies such as Apple and Amazon and smaller companies like Grubhub and Etsy that were poised to take advantage of the shift to working and shopping from home.

The S&P 500 jumped 12.7% in April. From there, markets disconnected from the rest of the still-reeling economy and pushed higher in fits and starts as vaccine development progressed and analysts and economists looked ahead to the eventual end of the pandemic.

Even as the stock market charged ahead as the fortunes of larger companies improved, millions remained out of work and many small businesses around the country, such as bars and restaurants, remained shuttered or limped along at a fraction of their usual capacity.

Individual investors, sometimes referred to as retail investors on Wall Street, hopped onto the market rally via commission-free online trading platforms like Robinhood. Along the way, they helped power shares in companies like Tesla to new heights. The electric car maker jumped 743.4% in 2020 for the biggest gain in the S&P 500.

“Retail investors represented a larger portion of the market than they ever have,” Cruz said. “It was retail and institutional investors all coming to the same conclusion about what was going to work and what wasn’t going to work this year at the same time.”

The market’s turnaround was faster than anyone might have expected in March, when the S&P 500′s nearly 11-year bull-market run ended. By August, the index had recovered all of its losses and climbed to new highs, rewarding investors who had stuck it out. All told, the S&P 500 set 33 record highs in 2020.

“It was another reminder that unless you have a foolproof market timing technique the adage to remember is it’s always better buy than bail,” said Sam Stovall, chief investment strategist at CFRA.

The end of the virus and its pummeling of the economy seems even closer now that vaccine approval and distribution is ramping up. The U.S. and U.K. have both approved Pfizer’s COVID-19 vaccine and Britain recently approved another vaccine from AstraZeneca and Oxford University. Meanwhile, the U.S. government has approved another round of aid for businesses and people dealing with another surge in the virus and tighter restrictions on businesses.

Thomas expects pent-up demand and high savings rates to help drive an economic recovery in 2021. Many of the more beaten-down stocks will benefit from a “vaccine-shaped” recovery as the number of vaccines on the market increases and distribution widens.

“We have more visibility that by midyear we start to be able to reopen the economy,” she said.

The sharp run-up in stock prices relative to the outlook for earnings growth suggests stocks could be in for a correction, or drop of at least 10%, in 2021, Stovall said.

“There’s a good possibility that we get a deep pullback — pullbacks being 5%-10% — or maybe a shallow correction,” he said. “Enough to remind investors that share prices don’t go up forever.”

Markets were mostly quiet on the final day of trading for the year. Several overseas markets were closed for holidays, and U.S. markets will be closed for New Years Day on Friday.

The S&P 500 rose 24.03 points, or 0.6%, to 3,756.07, an all-time high. The Dow rose 196.92 points, or 0.7%, to 30,606.48, a record high. The Nasdaq rose 18.28 points, or 0.1%, to 12,888.28.

The Russell 2000 index of smaller companies fell 5.14 points, or 0.3%, to 1,974.86. Smaller companies notched strong gains in recent weeks after lagging in the early months of the broader market rebound. The Russell 2000 ended the year with a gain of 18.4%.

The yield on the 10-year Treasury note rose to 0.92% from 0.91% late Wednesday.


----------



## bigdog

*Stocks Fall as Trading Starts for Year of Great Expectations*
U.S. stocks are closing lower Monday as big swings return to Wall Street to start a year when the dominant expectation is for a powerful economic rebound to sweep the world.

U.S. stocks pulled back from their recent record highs Monday, as big swings return to Wall Street at the onset of a year where the dominant expectation is for a powerful economic rebound to sweep the world.

The S&P 500, which ended 2020 at an all-time high, slid 1.5% after earlier dropping as much as 2.5%. It was the benchmark index's biggest decline since late October. Technology companies accounted for a big share of the sell-off, along with industrial, communication services, health care and other stocks. Only the S&P 500's energy sector managed to eked out a gain.

The selling comes as coronavirus cases keep climbing at frightening rates around the world, threatening to bring more lockdown orders that would punish the economy. The worsening numbers also raise the possibility that Wall Street has been overly optimistic about the big economic recovery it sees coming because of COVID-19 vaccines. Tuesday's upcoming runoff elections to determine which party controls the Senate may also be contributing to the volatility.

“We’ve got a wobbly start to the year here,” said Lindsey Bell, chief investment strategist at Ally Invest. “Investors are looking for a reason to lock in profits. The selling is probably a bit overdone.”

The S&P 500 fell 55.42 points to 3,700.65. The Dow Jones Industrial Average also fell from its record set last week, shedding 382.59 points, or 1.3%, to 30,223.89. At one point, it was down 724 points. The tech-heavy Nasdaq composite lost 189.84 points, or 1.5%, to 12,698.45.

Small company stocks, which have been notching solid gains in recent weeks, also fell. The Russell 2000 index of smaller companies dropped 28.94 points, or 1.5%, to 1,945.91.

Treasury yields held relatively steady after giving up a healthy gain in the morning. Gold jumped 2.7%, while the price of U.S. crude oil fell 1.9%.

“Investors should look through the bumpier start to the new economic cycle and focus on the improved earnings outlook,” Craig said.

Of course, many risks remain for the market, even beyond the threat of economic lockdowns coming in the near term because of the raging pandemic. Prices have climbed enough that critics say stocks may be too expensive, particularly if the big rebound in corporate profits that investors expect to occur later this year doesn’t materialize.

Politics is also still a wild card. If Democrats sweep the two runoff races in Georgia, that could lead to higher corporate tax rates, tighter regulations and other changes from Washington that would hinder corporate profits. Democrats already control the House, and President-elect Joe Biden is a Democrat.

“The concern around that is regulatory risk and tax policy risk are back on the table,” Bell said. "That has investors feeling a little bit anxious.”

Almost nine out of 10 stocks in the S&P 500 fell Monday. On the losing end of the market were several Big Tech stocks. Apple fell 2.5%, Microsoft dropped 2.1% and Amazon lost 2.2%. Because they're so massive in size, the movements of Big Tech stocks have much more sway over the S&P 500 than other companies. Those three were the biggest drags on the index.

Airlines, cruise operators, hotel chains and stocks of other companies hit particularly hard by the pandemic also had some of the market's sharpest losses. Alaska Air Group slid 5.3%, while Norwegian Cruise Line fell 6.7%.

Tesla rose 3.4% after it said it delivered 499,500 vehicles last year. That’s a 36% jump on the year, though it fell short of CEO Elon Musk’s goal of 500,000, which was set before the pandemic hit.

*ASX 200 expected to fall.*

The Australian share market looks set to drop lower on Tuesday. According to the latest SPI futures, the ASX 200 is poised to open the day 27 points or 0.4% lower this morning. This follows a very poor start to the week on Wall Street. At closing, the Dow Jones is down 1.25%, the S&P 500 is down 1.48%, and the Nasdaq has fallen 1.47%.










https://www.usnews.com/news/busines...rise-after-wall-street-ends-2020-at-new-highs

*Stocks Fall as Trading Starts for Year of Great Expectations*
U.S. stocks are closing lower Monday as big swings return to Wall Street to start a year when the dominant expectation is for a powerful economic rebound to sweep the world.
By Associated Press, Wire Service Content Jan. 4, 2021, at 4:33 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

U.S. stocks pulled back from their recent record highs Monday, as big swings return to Wall Street at the onset of a year where the dominant expectation is for a powerful economic rebound to sweep the world.

The S&P 500, which ended 2020 at an all-time high, slid 1.5% after earlier dropping as much as 2.5%. It was the benchmark index's biggest decline since late October. Technology companies accounted for a big share of the sell-off, along with industrial, communication services, health care and other stocks. Only the S&P 500's energy sector managed to eked out a gain.

The selling comes as coronavirus cases keep climbing at frightening rates around the world, threatening to bring more lockdown orders that would punish the economy. The worsening numbers also raise the possibility that Wall Street has been overly optimistic about the big economic recovery it sees coming because of COVID-19 vaccines. Tuesday's upcoming runoff elections to determine which party controls the Senate may also be contributing to the volatility.

“We’ve got a wobbly start to the year here,” said Lindsey Bell, chief investment strategist at Ally Invest. “Investors are looking for a reason to lock in profits. The selling is probably a bit overdone.”

The S&P 500 fell 55.42 points to 3,700.65. The Dow Jones Industrial Average also fell from its record set last week, shedding 382.59 points, or 1.3%, to 30,223.89. At one point, it was down 724 points. The tech-heavy Nasdaq composite lost 189.84 points, or 1.5%, to 12,698.45.

Small company stocks, which have been notching solid gains in recent weeks, also fell. The Russell 2000 index of smaller companies dropped 28.94 points, or 1.5%, to 1,945.91.

Treasury yields held relatively steady after giving up a healthy gain in the morning. Gold jumped 2.7%, while the price of U.S. crude oil fell 1.9%.

Stocks also fell in Japan as officials there mull a state of emergency due to surging virus cases. But optimism was more prevalent in other markets, with European and most Asian indexes closing higher.

The United Kingdom has been hit particularly hard by a new variant of the coronavirus that appears to be more contagious. On Monday, the United Kingdom became the first nation to start using the COVID-19 vaccine developed by Oxford University and drugmaker AstraZeneca.

In the United States, regulators have already approved two other vaccines. China last week gave the greenlight for its first domestically developed vaccine. Others are also being tested.

Investors have been hoping that vaccines will allow daily life around the world to slowly return to normal. That's helped spark a recent recovery for stocks of travel-related businesses, smaller companies and other industries left behind for much of the pandemic.

Still, rising coronavirus cases, the emergence of a mutant variant of the virus and concerns that the rollout of the vaccine isn't happening fast enough are keeping investors on edge, said Adam Taback, chief investment officer for Wells Fargo Private Bank.

“The (virus), the severity of the impact it's going to have during the winter, is still weighing on people’s minds,” Taback said.

Even though infection rates and hospitalizations are at frightening levels, many investors have been betting that ultralow interest rates provided by the Federal Reserve and financial support for the economy recently approved by Congress can help tide the economy over until vaccinations become more widespread.

Governments might throw less stimulus at their economies than last year, but policy is “still at a very loose setting,” which supports stock prices and lending, said Kerry Craig of JP Morgan Asset Management in a report.

“Investors should look through the bumpier start to the new economic cycle and focus on the improved earnings outlook,” Craig said.

Of course, many risks remain for the market, even beyond the threat of economic lockdowns coming in the near term because of the raging pandemic. Prices have climbed enough that critics say stocks may be too expensive, particularly if the big rebound in corporate profits that investors expect to occur later this year doesn’t materialize.

Politics is also still a wild card. If Democrats sweep the two runoff races in Georgia, that could lead to higher corporate tax rates, tighter regulations and other changes from Washington that would hinder corporate profits. Democrats already control the House, and President-elect Joe Biden is a Democrat.

“The concern around that is regulatory risk and tax policy risk are back on the table,” Bell said. "That has investors feeling a little bit anxious.”

But even in a Democratic sweep, markets see some causes for upside, including the potential for more stimulus for the economy. Democrats have been lobbying for $2,000 payments to go to most individuals, for example.

Almost nine out of 10 stocks in the S&P 500 fell Monday. On the losing end of the market were several Big Tech stocks. Apple fell 2.5%, Microsoft dropped 2.1% and Amazon lost 2.2%. Because they're so massive in size, the movements of Big Tech stocks have much more sway over the S&P 500 than other companies. Those three were the biggest drags on the index.

Airlines, cruise operators, hotel chains and stocks of other companies hit particularly hard by the pandemic also had some of the market's sharpest losses. Alaska Air Group slid 5.3%, while Norwegian Cruise Line fell 6.7%.

Tesla rose 3.4% after it said it delivered 499,500 vehicles last year. That’s a 36% jump on the year, though it fell short of CEO Elon Musk’s goal of 500,000, which was set before the pandemic hit.

In European stock markets, France’s CAC 40 gained 0.7%, and Germany’s DAX returned 0.1%. The FTSE 100 in London rose 1.7%.

In Asia, Tokyo’s Nikkei 225 lost 0.7% after Prime Minister Yoshihide Suga said a state of emergency was under consideration for the Japanese capital and three surrounding prefectures due to surging virus caseloads.

Suga called on restaurants and bars to close by 8 p.m. and said it would be difficult to restart a travel promotion program that was suspended last month. He said the government would expedite approval of coronavirus vaccines and begin providing injections in February.

South Korea’s Kospi rose 2.5%, Hong Kong’s Hang Seng gained 0.9% and stocks in Shanghai climbed 0.9%.

In the bond market, the yield on the 10-year Treasury rose to 0.91% from 0.89% late Thursday. Earlier in the morning, it had climbed as high as 0.96% in a signal of rising expectations of economic growth and inflation. Markets were closed Friday for New Year’s Day.


----------



## tech/a

Hey BD

I look in everyday to your Report.
Thanks for the continued effort.
Many follow and like me silent.

Tech


----------



## Bourseboy

tech/a said:


> Hey BD
> 
> I look in everyday to your Report.
> Thanks for the continued effort.
> Many follow and like me silent.
> 
> Tech




I too check it out everyday (part of my routine). Big thank you to you Bigdog.


----------



## bigdog

*US Stocks Recoup Some Losses After Sharp Slide to Start 2021*
U.S. stocks are closing higher Tuesday, regaining their footing a day after suffering their worst loss in months amid the worsening pandemic and potentially market-moving Senate elections.

Stocks closed broadly higher on Wall Street Tuesday, regaining their footing a day after suffering their worst loss in months amid the worsening pandemic and potentially market-moving Senate elections.

The S&P 500 rose 0.7%, recovering about half of the index's losses from a day earlier. The majority of big stocks in the S&P 500 notched gains, with oil producers leading the way as crude prices strengthened. Stocks of smaller companies did even better than the broader market, driving the Russell 2000 index of small-caps to a market-leading 1.7% gain. Treasury yields rose.

The market’s moves were tenuous early on, though. At one point, the S&P 500 gave up all of an early-morning rise and was down 0.2% even after a report showed U.S. manufacturing grew last month at its strongest rate since 2018.

“While we probably will end up having a pullback sometime in the near future, the bull is not ready to wind down just yet,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 rose 26.21 points to 3,726.86. The Dow Jones Industrial Average gained 167.71 points, or 0.6%, to 30,391.60. The Nasdaq composite picked up 120.51 points, or 1%, to 12,818.96. The Russell 2000 climbed 33.19 points to 1,979.11.

Wall Street's uneven start to the year comes as investors remain optimistic that the economy will recover this year as more Americans receive coronavirus vaccinations. Optimism is being kept in check as new infections climb at frightening rates around the world, threatening to bring more lockdown orders that would punish the economy.

Traders have also focused on the outcome of the runoff elections in Georgia Tuesday, which will determine which party controls the Senate. Some analysts say the results could mark clear winners and losers in the stock market.

The general thinking is that a Democratic sweep would open the door to higher tax rates, tougher regulation on businesses and other potentially profit-crimping changes from Washington. That would put broad pressure on the stock market, with Big Tech stocks in particular perhaps attracting more regulatory scrutiny.

But Democratic control of the Senate, White House and House of Representatives could also make another dose of big financial support for the economy more likely. Democrats have lobbied for $2,000 cash payments to go to most Americans, for example, and they could push for more spending on infrastructure projects.

Such stimulus could eventually lead to higher inflation across the economy, something that has been nearly nonexistent for years. Increasing inflation expectations have helped buoy Treasury yields recently, and the yield on the 10-year Treasury rose to 0.95% from 0.90% late Monday.

“There's some risk on the election, but mostly just due to uncertainty,” said James Ragan, director of wealth management research at D.A. Davidson.

Investors likely shouldn't worry much about either a Democratic or Republican victory, strategists at Barclays said in a report. Even a Democratic sweep of the runoffs would leave the party with only the slimmest of majorities in the Senate, which would make big, bold changes less likely.

*ASX 200 expected to edge higher.*

The Australian share market looks set to edge higher on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 3 points higher this morning. This follows a better night of trade on Wall Street. 

On closing, the Dow Jones is up 0.55%, the S&P 500 was up 0.71%, and the Nasdaq had risen 0.95%.











https://www.usnews.com/news/busines...xed-after-wall-st-retreat-as-virus-cases-rise

*US Stocks Recoup Some Losses After Sharp Slide to Start 2021*
U.S. stocks are closing higher Tuesday, regaining their footing a day after suffering their worst loss in months amid the worsening pandemic and potentially market-moving Senate elections.
By Associated Press, Wire Service Content Jan. 5, 2021, at 4:50 p.m

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks closed broadly higher on Wall Street Tuesday, regaining their footing a day after suffering their worst loss in months amid the worsening pandemic and potentially market-moving Senate elections.

The S&P 500 rose 0.7%, recovering about half of the index's losses from a day earlier. The majority of big stocks in the S&P 500 notched gains, with oil producers leading the way as crude prices strengthened. Stocks of smaller companies did even better than the broader market, driving the Russell 2000 index of small-caps to a market-leading 1.7% gain. Treasury yields rose.

The market’s moves were tenuous early on, though. At one point, the S&P 500 gave up all of an early-morning rise and was down 0.2% even after a report showed U.S. manufacturing grew last month at its strongest rate since 2018.

“While we probably will end up having a pullback sometime in the near future, the bull is not ready to wind down just yet,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 rose 26.21 points to 3,726.86. The Dow Jones Industrial Average gained 167.71 points, or 0.6%, to 30,391.60. The Nasdaq composite picked up 120.51 points, or 1%, to 12,818.96. The Russell 2000 climbed 33.19 points to 1,979.11.

Wall Street's uneven start to the year comes as investors remain optimistic that the economy will recover this year as more Americans receive coronavirus vaccinations. Optimism is being kept in check as new infections climb at frightening rates around the world, threatening to bring more lockdown orders that would punish the economy.

Traders have also focused on the outcome of the runoff elections in Georgia Tuesday, which will determine which party controls the Senate. Some analysts say the results could mark clear winners and losers in the stock market.

The general thinking is that a Democratic sweep would open the door to higher tax rates, tougher regulation on businesses and other potentially profit-crimping changes from Washington. That would put broad pressure on the stock market, with Big Tech stocks in particular perhaps attracting more regulatory scrutiny.

But Democratic control of the Senate, White House and House of Representatives could also make another dose of big financial support for the economy more likely. Democrats have lobbied for $2,000 cash payments to go to most Americans, for example, and they could push for more spending on infrastructure projects.

Such stimulus could eventually lead to higher inflation across the economy, something that has been nearly nonexistent for years. Increasing inflation expectations have helped buoy Treasury yields recently, and the yield on the 10-year Treasury rose to 0.95% from 0.90% late Monday.

“There's some risk on the election, but mostly just due to uncertainty,” said James Ragan, director of wealth management research at D.A. Davidson.

Investors likely shouldn't worry much about either a Democratic or Republican victory, strategists at Barclays said in a report. Even a Democratic sweep of the runoffs would leave the party with only the slimmest of majorities in the Senate, which would make big, bold changes less likely.

Beyond Georgia and Washington, though, worries about the worsening global pandemic continue to weigh on markets. A new, seemingly more contagious variant of the coronavirus is pushing countries to announce or consider more restrictions on businesses. That’s threatening Wall Street’s widespread belief that financial support offered by central banks and governments can keep the economy afloat until a big recovery sweeps the world later this year due to the rollout of COVID-19 vaccines.

Worries are also rising that markets have simply stormed too high since hitting bottom early last year and are setting investors up for big disappointment.

“The long, long bull market since 2009 has finally matured into a fully-fledged epic bubble,” the famed value investor Jeremy Grantham wrote in a recent report titled “Waiting for the last dance.”

“Featuring extreme overvaluation, explosive price increases, frenzied issuance, and hysterically speculative investor behavior, I believe this event will be recorded as one of the great bubbles of financial history, right along with the South Sea bubble, 1929, and 2000.”

Grantham has correctly predicted big market turns in the past, including the plunge caused by the 2008 financial crisis and the sharp rebound higher in early 2009. But he acknowledges that his calls have sometimes been early: He got out of Japanese stocks in 1987, for example, only for the bubble to keep inflating through the end of 1989.

Energy stocks led the way higher Tuesday as the price of U.S. crude oil climbed 4.9%. Occidental Petroleum jumped 10.1% for the biggest gain in the S&P 500.

The surge in energy stocks is an indication that investors believe the economy will improve this year, driving up demand for oil and pushing up prices, Stovall said.

In overseas stock markets, Asian indexes closed mostly higher. South Korea's Kospi rose 1.6%, Hong Kong's Hang Seng added 0.6% and stocks in Shanghai gained 0.7%. Japan's Nikkei 225 fell 0.4%.

In Europe, France's CAC 40 fell 0.4%, and Germany's DAX lost 0.6%. The FTSE 100 in London rose 0.6%.


----------



## bigdog

*Stocks rally despite protests on hopes for Senate turnover*

Wall Street rallied Wednesday on expectations of more stimulus for the economy, although the enthusiasm was dampened by chaotic scenes in Washington as pro-Trump protestors stormed the U.S. Capitol. The S&P 500 rose 0.6%, giving up much of an earlier rally, while the Dow Jones Industrial Average closed at a record high. Small-company stocks did especially well as investors ploughed money into businesses that would be winners if Democrats can pump even more financial stimulus into the economy amid rising expectations that the GOP may lose control of Washington. The yield on the 10-year Treasury topped 1% for the first time since March.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

Wall Street is piling into stocks of smaller companies, banks and other businesses that would be winners if Democrats can pump even more financial stimulus into the economy, as expectations rise that the GOP may lose control of Washington.

The rally lost some momentum Wednesday afternoon after the U.S. Capitol building went into lockdown as supporters of President Donald Trump broke through barricades and entered the building following clashes with police. Both houses of Congress abruptly went into recess, interrupting debate over the Electoral College vote that gave Joe Biden the presidency. Earlier, Trump riled up the crowd with his baseless claims of election fraud.

Most stocks were still higher after Democrats won one of the two runoff elections in Georgia that will determine which party controls the Senate. The second runoff was still too early to call. The S&P 500 was up 0.8% in afternoon trading, giving up about half of its gain from earlier. The Dow Jones Industrial Average was up 446 points, or 1.5%, at 30,839, as of 3:19 p.m. Eastern time.

The moves on Wall Street masked even bigger shifts happening underneath the surface as investors jockey to find the winners and losers of a Senate, White House and House of Representatives that may all soon be under Democratic control. The yield on the 10-year Treasury topped 1% for the first time since March, for example.

Big Tech stocks are also in the spotlight as investors shift away from the winners of the stay-at-home economy of the pandemic and rotate into companies whose profits would benefit most from a healthier economy. The Nasdaq composite, which is full of tech stocks, struggled for much of the morning and was flat after shedding modest early gains.

“This is just a market taking into account the likely outcomes from what happened in the election,” said Andrew Mies, chief investment officer at investment advisory firm 6 Meridien. “You have the recognition that the Democratic agenda is probably much more mainstream than people feared.”

A report on Wednesday underscored how fragile the economy is because of the worsening pandemic. Payroll processor ADP said private employers cut 123,000 more jobs last month than they added. It was much worse than economists’ expectations for job growth, and it was the weakest such report since April. The Labor Department’s more comprehensive report on jobs growth is due on Friday.

The Russell 2000 index of small-cap stocks nevertheless surged 3.3%, much more than the rest of the market. Another round of stimulus for the economy could benefit smaller companies in particular because they tend to have smaller financial cushions to survive long-term downturns.

Stocks of companies that would profit from increased spending on infrastructure were also helping to lead the market. United Rentals, whose catalog includes forklifts and light towers for construction sites, jumped 9% for one of the bigger gains in the S&P 500. Vulcan Materials, which sells asphalt and other construction materials, rose 8.2%.

“More fiscal support forthcoming likely means a stronger economic recovery and markets are pricing that in,” said Brian Levitt, global market strategist at Invesco. “Today is the recovery trade.”

Big spending plans for the economy could trigger not only stronger growth for the economy in the future but also heavier borrowing by the U.S. government and maybe even inflation. Those factors are helping to push up Treasury yields, and the yield on the 10-year Treasury rose to 1.04% from 0.94% late Tuesday.


*ASX 200 expected rebound.*

It looks set to be a much better day for the Australian share market on Thursday. According to the latest SPI futures, the ASX 200 is poised to open 129 points or 2% higher.

This follows a strong night of trade on Wall Street after the Democrats came close to taking control of the Senate. On closing, the Dow Jones was up 1.44%, the S&P 500 up 0.57%, and the Nasdaq was down 0.61%.











https://apnews.com/article/legislat...cial-markets-97f349d06fcf54f043c37e266a4609b8

*Stocks rally despite protests on hopes for Senate turnover*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA30 minutes ago

Wall Street rallied Wednesday on expectations of more stimulus for the economy, although the enthusiasm was dampened by chaotic scenes in Washington as pro-Trump protestors stormed the U.S. Capitol. The S&P 500 rose 0.6%, giving up much of an earlier rally, while the Dow Jones Industrial Average closed at a record high. Small-company stocks did especially well as investors ploughed money into businesses that would be winners if Democrats can pump even more financial stimulus into the economy amid rising expectations that the GOP may lose control of Washington. The yield on the 10-year Treasury topped 1% for the first time since March.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

Wall Street is piling into stocks of smaller companies, banks and other businesses that would be winners if Democrats can pump even more financial stimulus into the economy, as expectations rise that the GOP may lose control of Washington.

The rally lost some momentum Wednesday afternoon after the U.S. Capitol building went into lockdown as supporters of President Donald Trump broke through barricades and entered the building following clashes with police. Both houses of Congress abruptly went into recess, interrupting debate over the Electoral College vote that gave Joe Biden the presidency. Earlier, Trump riled up the crowd with his baseless claims of election fraud.

Most stocks were still higher after Democrats won one of the two runoff elections in Georgia that will determine which party controls the Senate. The second runoff was still too early to call. The S&P 500 was up 0.8% in afternoon trading, giving up about half of its gain from earlier. The Dow Jones Industrial Average was up 446 points, or 1.5%, at 30,839, as of 3:19 p.m. Eastern time.

The moves on Wall Street masked even bigger shifts happening underneath the surface as investors jockey to find the winners and losers of a Senate, White House and House of Representatives that may all soon be under Democratic control. The yield on the 10-year Treasury topped 1% for the first time since March, for example.

Big Tech stocks are also in the spotlight as investors shift away from the winners of the stay-at-home economy of the pandemic and rotate into companies whose profits would benefit most from a healthier economy. The Nasdaq composite, which is full of tech stocks, struggled for much of the morning and was flat after shedding modest early gains.

“This is just a market taking into account the likely outcomes from what happened in the election,” said Andrew Mies, chief investment officer at investment advisory firm 6 Meridien. “You have the recognition that the Democratic agenda is probably much more mainstream than people feared.”

A report on Wednesday underscored how fragile the economy is because of the worsening pandemic. Payroll processor ADP said private employers cut 123,000 more jobs last month than they added. It was much worse than economists’ expectations for job growth, and it was the weakest such report since April. The Labor Department’s more comprehensive report on jobs growth is due on Friday.

The Russell 2000 index of small-cap stocks nevertheless surged 3.3%, much more than the rest of the market. Another round of stimulus for the economy could benefit smaller companies in particular because they tend to have smaller financial cushions to survive long-term downturns.

Stocks of companies that would profit from increased spending on infrastructure were also helping to lead the market. United Rentals, whose catalog includes forklifts and light towers for construction sites, jumped 9% for one of the bigger gains in the S&P 500. Vulcan Materials, which sells asphalt and other construction materials, rose 8.2%.

“More fiscal support forthcoming likely means a stronger economic recovery and markets are pricing that in,” said Brian Levitt, global market strategist at Invesco. “Today is the recovery trade.”

Big spending plans for the economy could trigger not only stronger growth for the economy in the future but also heavier borrowing by the U.S. government and maybe even inflation. Those factors are helping to push up Treasury yields, and the yield on the 10-year Treasury rose to 1.04% from 0.94% late Tuesday.

The increase in yields, along with rising hopes for a strengthening economy, helped push banks higher. Financial stocks rose 4.4% for the biggest gain among the 11 sectors that make up the S&P 500. Zions Bancorporation jumped 11%, and KeyCorp gained 9.6%.

On the other end of the market was Big Tech. A Democratic controlled D.C. could mean tougher regulations are on the way for the group, which already has been facing increased scrutiny. Apple, the most valuable stock on Wall Street, said in a regulatory filing Tuesday that its board regularly reviews the company’s antitrust risks.

Several Big Tech stocks were lagging, including a 2.5% drop for Apple and a 2% fall for Facebook. These are among the biggest companies on Wall Street, which gives their stock movements outsized weight on the S&P 500 and other indexes.

The rise in Treasury yields also undercuts one of the underpinnings for some tech stocks and other high fliers that breezed through the pandemic.

When bonds are paying more in interest, it can pull some investors away from stocks. And that can hit companies in particular that trade at relatively expensive prices compared with their earnings. That could accelerate the rotation that has already begun by investors out of tech stocks and into beaten-down, cheaper areas of the stock market.

The rise in yields also adds pressure on the Federal Reserve, which has kept short-term interest rates at record lows in hopes of goosing the economy.

“The ball will be in the Fed’s court next and the question becomes how are they going to react to this evolving political backdrop,” said Matthew Miskin, co-chief investment strategist at John Hancock Investment Management.

Democratic control of Washington could also lead to higher tax rates for businesses, which would crimp profits and add downward pressure on stocks broadly.

Analysts, though, also caution that no big changes may ultimately come from Washington given how slim the Democratic majority may be. If the party ultimately wins the second runoff for a Georgia Senate seat, they would have a 50-50 split in the Senate with Democratic Vice President-elect Kamala Harris providing a tie-breaking vote.

“Investors that have concerns today should probably check some of those concerns,” Levitt said. “The first year of this administration is going to be about providing as much support as possible to an economic recovery.”

European markets ended broadly higher, and Asian markets ended mixed.


----------



## bigdog

*Wall Street Keeps Rising on Democratic Wins, Stimulus Hopes*
Wall Street rallied to more record highs as investors hope the Democratic sweep of Washington means more stimulus is on the way for the economy.

Major U.S. stock indexes surged to all-time highs Thursday as Wall Street bet that the Democratic sweep of Washington means more stimulus is on the way for the economy.

The S&P 500 rose 1.5% to a record high in the first day of trading after Congress confirmed Joe Biden as the winner of the presidential election and Jon Ossoff was declared the winner of a Georgia runoff election, tipping control of the Senate to Democrats. The Dow Jones Industrial Average, Nasdaq composite and Russell 2000 index of smaller companies also notched new highs.

The rally was broad-based, though the S&P 500's technology sector notched the biggest gain, recouping losses after a pullback a day earlier. Treasury yields continued to rise, reflecting expectations that higher government spending will drive up inflation.

Investors and analysts are anticipating the Biden administration and a Democrat-controlled Congress will try to deliver $2,000 checks to most Americans, increase spending on infrastructure and take other measures to nurse the economy amid the worsening pandemic.

“The expectations are shifting to more stimulus, sooner, which is generally better for the economy and better for the market as well,” said Rob Haworth, senior investment strategy director at U.S. Bank Wealth Management.

The S&P 500 rose 55.65 points to 3,803.79. The Dow gained 211.73 points, or 0.7%, to 31,041.13. The tech-heavy Nasdaq climbed 326.69 points, or 2.6%, to 13,067.48. The Russell 2000 picked up 38.96 points, or 1.9%, to 2,096.89.

Wall Street's latest rally adds to gains from a day before, when stocks climbed after Raphael Warnock was declared the winner of the first of two Georgia runoffs and expectations built for a Democratically controlled D.C. Markets gave up much of their early gains on Wednesday, though, after loyalists to President Donald Trump stormed the Capitol as lawmakers were confirming his loss.

Investors have largely looked past the current political ugliness — and the pandemic 's acceleration around the world — and are focused on prospects for an improving economy in the future. Beyond hopes for increased stimulus for the economy from Washington, much of Wall Street expects the rollout of COVID-19 vaccines that’s just begun to help daily life around the world get closer to normal. That has investors anticipating a explosive return to growth for corporate profits later this year.

The market “is really looking through to year-end at what looks like a really solid year for earnings growth,” Haworth said.

Trump may have backed up investors’ expectations that the turmoil engulfing Washington may be only temporary. Shortly after Congress certified his loss, he issued a statement saying there will be an “ orderly transition on January 20th.” Trump still claims falsely that he won, having appeared to excuse the violent occupation of the Capitol by his supporters. Earlier, Trump riled up the crowd with baseless claims of election fraud.

Even so, the market could be in for more choppy trading in the days before Biden takes over as president.

“We still see this as a market on edge with volatility higher than normal,” Haworth said. "We think there’s a lot of risk out there. Part of that is certainly political transition, part of it is certainly the virus and virus uncertainty.”

A report on Thursday showed that the economy remains fragile because of the worsening pandemic, but it wasn’t quite as bad as economists expected. Slightly fewer U.S. workers applied for unemployment benefits last week than the week before, at 787,000, when economists were forecasting an increase.

*ASX 200 poised to rise.*

The Australian share market looks set to push higher on Friday. According to the latest SPI futures, the ASX 200 is poised to open the day 11 points or 0.2% higher. This follows another very strong night of trade on Wall Street which sees the Dow Jones close up 0.69%, the S&P 500 up 1.48%, and the Nasdaq up a sizeable 2.56% to a record high.










https://www.usnews.com/news/busines...res-track-wall-st-rally-on-hopes-for-stimulus

*Wall Street Keeps Rising on Democratic Wins, Stimulus Hopes*
Wall Street rallied to more record highs as investors hope the Democratic sweep of Washington means more stimulus is on the way for the economy.
By Associated Press, Wire Service Content Jan. 7, 2021, at 4:43 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

Major U.S. stock indexes surged to all-time highs Thursday as Wall Street bet that the Democratic sweep of Washington means more stimulus is on the way for the economy.

The S&P 500 rose 1.5% to a record high in the first day of trading after Congress confirmed Joe Biden as the winner of the presidential election and Jon Ossoff was declared the winner of a Georgia runoff election, tipping control of the Senate to Democrats. The Dow Jones Industrial Average, Nasdaq composite and Russell 2000 index of smaller companies also notched new highs.

The rally was broad-based, though the S&P 500's technology sector notched the biggest gain, recouping losses after a pullback a day earlier. Treasury yields continued to rise, reflecting expectations that higher government spending will drive up inflation.

Investors and analysts are anticipating the Biden administration and a Democrat-controlled Congress will try to deliver $2,000 checks to most Americans, increase spending on infrastructure and take other measures to nurse the economy amid the worsening pandemic.

“The expectations are shifting to more stimulus, sooner, which is generally better for the economy and better for the market as well,” said Rob Haworth, senior investment strategy director at U.S. Bank Wealth Management.

The S&P 500 rose 55.65 points to 3,803.79. The Dow gained 211.73 points, or 0.7%, to 31,041.13. The tech-heavy Nasdaq climbed 326.69 points, or 2.6%, to 13,067.48. The Russell 2000 picked up 38.96 points, or 1.9%, to 2,096.89.

Wall Street's latest rally adds to gains from a day before, when stocks climbed after Raphael Warnock was declared the winner of the first of two Georgia runoffs and expectations built for a Democratically controlled D.C. Markets gave up much of their early gains on Wednesday, though, after loyalists to President Donald Trump stormed the Capitol as lawmakers were confirming his loss.

Investors have largely looked past the current political ugliness — and the pandemic 's acceleration around the world — and are focused on prospects for an improving economy in the future. Beyond hopes for increased stimulus for the economy from Washington, much of Wall Street expects the rollout of COVID-19 vaccines that’s just begun to help daily life around the world get closer to normal. That has investors anticipating a explosive return to growth for corporate profits later this year.

The market “is really looking through to year-end at what looks like a really solid year for earnings growth,” Haworth said.

Trump may have backed up investors’ expectations that the turmoil engulfing Washington may be only temporary. Shortly after Congress certified his loss, he issued a statement saying there will be an “ orderly transition on January 20th.” Trump still claims falsely that he won, having appeared to excuse the violent occupation of the Capitol by his supporters. Earlier, Trump riled up the crowd with baseless claims of election fraud.

Even so, the market could be in for more choppy trading in the days before Biden takes over as president.

“We still see this as a market on edge with volatility higher than normal,” Haworth said. "We think there’s a lot of risk out there. Part of that is certainly political transition, part of it is certainly the virus and virus uncertainty.”

A report on Thursday showed that the economy remains fragile because of the worsening pandemic, but it wasn’t quite as bad as economists expected. Slightly fewer U.S. workers applied for unemployment benefits last week than the week before, at 787,000, when economists were forecasting an increase.

Another more encouraging report said that growth in U.S. services industries accelerated last month and was stronger than economists expected.

Anticipation of more stimulus for the economy, increased U.S. government borrowing and perhaps inflation across the country have been pushing Treasury yields to levels not seen since early in the pandemic. The 10-year yield rose to 1.08% from 1.02% late Wednesday, after topping the 1% level for the first time since March.

Higher interest rates allow banks to make bigger profits from making loans, as would a stronger economy, and financial stocks were again among the market’s leaders. JPMorgan Chase rose 3.3%, and Bank of America gained 2.2%.

Tech stocks also rose, recovering from weakness a day earlier on worries that a Democratically run Washington would target them with tougher regulations. Facebook rose 2.1% after losing 2.8% Wednesday.

Hong Kong’s Hang Seng index slipped 0.5% after the New York Stock Exchange reversed again and said it would delist three big Chinese telecoms companies following an earlier order from the White House. The companies are heavyweights in the Hang Seng.

Shares in those companies and Internet companies affected by an expanded ban on transactions with some Chinese companies’ apps fell sharply “because of the actions of Donald Trump, trying to hurt China,” said Francis Lun, chief executive officer for Geo Securities in Hong Kong.

“Saner heads, people with better reasoning, hope that when Biden becomes president he will try to correct the mistakes that Donald Trump has done in damaging the U.S.-China relationship,” Lun said.


----------



## bigdog

*Stock Market Shakes off a Slump to Reach More Record Highs*
Stocks shook off a midday slump and powered higher in the afternoon, bringing major indexes to record highs and leaving the market with solid gains for the first week of the year.

Wall Street notched more milestones Friday as the market largely shrugged off another discouraging jobs report amid expectations that the incoming Biden administration will pump more aid into the pandemic-ravaged economy.

The S&P 500 rose 0.5%, its second straight record high, after bouncing back from a midday slump that knocked it down 0.5%. The Dow Jones Industrial Average and Nasdaq composite all closed at new highs.

Technology stocks and companies that rely on consumer spending helped lift the market, outweighing losses in financial, industrial and other sectors. The gains pushed the S&P 500 to its second weekly gain in a row. Treasury yields continued to move higher, fueled by expectations of increased federal borrowing, more stimulus for the economy and the possibility of higher inflation.

The Labor Department said Friday employers cut jobs for the first time since April as the worsening pandemic led more businesses to shut down. But Wall Street remains hopeful that Washington will come through with more badly needed support for American workers and businesses following President-elect Joe Biden's inauguration.

“There are still close to 4 million people who have been long-term unemployed, which could threaten growth in the next couple of months,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. “The market continues to slowly grind higher because (investors) are expecting additional stimulus when the new administration goes into effect later this month.”

The S&P 500 fell 20.89 points to 3,824.68. The Dow gained 56.84 points, or 0.2%, to 31,097.97. The Nasdaq climbed 134.50 points, or 1%, to 13,201.98.

President Donald Trump acknowledged late Thursday that he’ll be leaving the White House later this month. With Democrats soon in control of the presidency, Senate and House, investors are anticipating Washington will try to deliver even more stimulus for the struggling economy. That’s layering on top of expectations already built up for the economy to get healthier as coronavirus vaccines roll out in 2021.

The much weaker-than-expected report on the jobs market underscored the stakes for the economy, and analysts said it adds more pressure on Congress to act. Employers cut 140,000 more jobs last month than they added, the Labor Department said.

It was the first month of job losses for the economy since April, and it was much a worse reading than the modest growth that economists were expecting to see. Such pressure is rising on economies around the world as the pandemic accelerates.

Stocks of smaller companies fell. The Russell 2000 index of small-cap stocks dropped 5.23 points, or 0.2%, to 2,091.66. It ended the week with a 5.9% gain, well ahead of the 1.8% gain for the big stocks in the S&P 500.










https://www.usnews.com/news/busines...res-climb-on-wall-street-rally-stimulus-hopes

*Stock Market Shakes off a Slump to Reach More Record Highs*
Stocks shook off a midday slump and powered higher in the afternoon, bringing major indexes to record highs and leaving the market with solid gains for the first week of the year.
By Associated Press, Wire Service Content Jan. 8, 2021, at 4:58 p.m

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street notched more milestones Friday as the market largely shrugged off another discouraging jobs report amid expectations that the incoming Biden administration will pump more aid into the pandemic-ravaged economy.

The S&P 500 rose 0.5%, its second straight record high, after bouncing back from a midday slump that knocked it down 0.5%. The Dow Jones Industrial Average and Nasdaq composite all closed at new highs.

Technology stocks and companies that rely on consumer spending helped lift the market, outweighing losses in financial, industrial and other sectors. The gains pushed the S&P 500 to its second weekly gain in a row. Treasury yields continued to move higher, fueled by expectations of increased federal borrowing, more stimulus for the economy and the possibility of higher inflation.

The Labor Department said Friday employers cut jobs for the first time since April as the worsening pandemic led more businesses to shut down. But Wall Street remains hopeful that Washington will come through with more badly needed support for American workers and businesses following President-elect Joe Biden's inauguration.

“There are still close to 4 million people who have been long-term unemployed, which could threaten growth in the next couple of months,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. “The market continues to slowly grind higher because (investors) are expecting additional stimulus when the new administration goes into effect later this month.”

The S&P 500 fell 20.89 points to 3,824.68. The Dow gained 56.84 points, or 0.2%, to 31,097.97. The Nasdaq climbed 134.50 points, or 1%, to 13,201.98.

President Donald Trump acknowledged late Thursday that he’ll be leaving the White House later this month. With Democrats soon in control of the presidency, Senate and House, investors are anticipating Washington will try to deliver even more stimulus for the struggling economy. That’s layering on top of expectations already built up for the economy to get healthier as coronavirus vaccines roll out in 2021.

The much weaker-than-expected report on the jobs market underscored the stakes for the economy, and analysts said it adds more pressure on Congress to act. Employers cut 140,000 more jobs last month than they added, the Labor Department said.

It was the first month of job losses for the economy since April, and it was much a worse reading than the modest growth that economists were expecting to see. Such pressure is rising on economies around the world as the pandemic accelerates.

Treasury yields zigzagged following the release of the jobs report, but they remain on an upward trend. The yield on the 10-year Treasury rose to 1.12%. That’s up from 1.05% late Thursday and 0.90% early this week.

Stocks of smaller companies fell. The Russell 2000 index of small-cap stocks dropped 5.23 points, or 0.2%, to 2,091.66. It ended the week with a 5.9% gain, well ahead of the 1.8% gain for the big stocks in the S&P 500.

Smaller stocks tend to rise and fall more than their bigger rivals with expectations for the economy’s strength. And many investors are expecting Washington to soon try to send bigger cash payments to most Americans, spend more on infrastructure and provide other support for the struggling economy.

Vaccine distribution is ramping up, but will still likely take many months while people continue to struggle with unemployment, said Jack Manley, global market strategist at J.P. Morgan Asset Management.

“That's why we're excited about what we might see from a fiscal perspective,” he said. “You’re going to need something to shore up those people.”

The expectations began building shortly after November’s elections, and they accelerated this week after Democrats won two Georgia runoff elections for the Senate. They will give Democrats a majority in the Senate, with Vice President-elect Kamala Harris providing a tie-breaking vote amid a 50-50 split with Republicans. Democrats already controlled the House, and Democrat Joe Biden is set to take the presidential oath of office on Jan. 20.

Another encouraging thing for many investors is that Democrats will have only a thin majority in the Senate. In the optimistic case for Wall Street, that could give them enough clout to push through more stimulus for the economy but not enough to raise tax rates sharply and toughen up regulations so much that they significantly damage profits for companies.

Financial stocks gave up some of their big gains from earlier in the week, which were triggered by expectations for a strengthening economy and bigger profits from making loans at higher interest rates. Bank of America fell 1%.

On the other end was Tesla, which climbed 7.8% for the biggest gain in the S&P 500. The auto maker surged more than 740% last year, and they're climbing more amid hopes that a Democratically run D.C. could encourage the use of more electric vehicles. The jump pushes Tesla's total market value past Facebook's, and it's now the fifth-largest stock in the S&P 500.

Japan’s Nikkei 225 rose 2.4%, its highest finish in more than 30 years. Stocks also rose in South Korea and Hong Kong. European markets ended higher.


----------



## bigdog

*ASX 200 expected to rise.*

The Australian share market looks set to start the week higher. According to the latest SPI futures, the ASX 200 is poised to open the week 7 points or 0.1% higher. This follows a positive end to the week on Wall Street, which saw the Dow Jones rise 0.2%, the S&P 500 climb 0.55%, and the Nasdaq jump 1% higher.


----------



## bigdog

*Stocks slip as Wall Street takes a breather after 4-day run*

Stocks pulled back on Wall Street Monday as markets around the world paused following record-setting runs.

The S&P 500 fell 0.7%, breaking a four-day winning streak. Tesla, Amazon, Apple and other big gainers over the past year led the way lower, even as financial, health care and energy stocks notched gains. Treasury yields continued to rise.

Analysts said a pullback was no surprise following the big rally recently for everything from stocks to bond yields to commodities amid a wave of optimism. With Democrats set to take control of Washington, investors expect Congress to try soon to deliver more stimulus to the economy through larger cash payments for Americans and other programs. That’s building on top of enthusiasm already built about a powerful economic recovery coming later this year as COVID-19 vaccines roll out.

The market managed to look past much of last week’s bad news, including the attack on the U.S. Capitol on Wednesday, surging virus cases, and a disappointing employment report, said Julian Emanuel, BTIG chief equity and derivatives strategist. That both speaks to the market’s resiliency and could signal a change in attitudes.

“The fact that the market shrugged all of this news off, it’s ushering in a more speculative stage in the bull market,” he said.

The S&P 500 dropped 25.07 points to 3,799.61. The Dow Jones Industrial Average fell 89.28 points, or 0.3%, to 31,008.69. The Nasdaq composite slid 165.54 points, or 1.3%, to 13,036.43. The three indexes set all-time highs on Friday.

The market’s record-setting run means stocks and other investments are even more expensive, leaving critics to say they’ve gone too high. One of the main ways professional investors gauge a stock’s value is by measuring its price against how much profit it made in the prior 12 months. Stocks in the S&P 500 are trading at roughly 29 times their earnings. That’s a much more expensive price tag than their average over the last decade of a little below 18, according to FactSet.

“Given where we are in terms of valuation, there’s not going to be tolerance for news that isn’t good,” Emanuel said.

At the same time, the worsening pandemic continues to slam the economy. U.S. employers cut more jobs last month than they added, for example, the first month of job losses since last spring. New, potentially more contagious strains of the coronavirus are helping the pandemic to tighten its grip on the economy around the world.

In the background, political uncertainty also continues to hang over markets. Democrats are pushing for the removal of President Donald Trump, who has less than two weeks left in his term, after his words helped incite a group of loyalists to storm the Capitol last week.

“The equity markets remain forward-looking and focused on what is to come beyond the next 10-15 days,” said Bill Northey, senior investment director at U.S. Bank Wealth Management.


*ASX 200 expected to rise.*

It looks set to be a better day for the Australian share market on Tuesday. According to the latest SPI futures, the ASX 200 is poised to open 4 points higher this morning. This is despite a weak start to the week on Wall Street. On closing, the Dow Jones is down 0.29%, the S&P 500 has fallen 0.66%, and the Nasdaq has tumbled 1.25% lower.










https://apnews.com/article/joe-bide...rus-pandemic-9d76f22c51377a95706caa3a071c16ac

*Stocks slip as Wall Street takes a breather after 4-day run*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA4 minutes ago



Stocks pulled back on Wall Street Monday as markets around the world paused following record-setting runs.

The S&P 500 fell 0.7%, breaking a four-day winning streak. Tesla, Amazon, Apple and other big gainers over the past year led the way lower, even as financial, health care and energy stocks notched gains. Treasury yields continued to rise.

Analysts said a pullback was no surprise following the big rally recently for everything from stocks to bond yields to commodities amid a wave of optimism. With Democrats set to take control of Washington, investors expect Congress to try soon to deliver more stimulus to the economy through larger cash payments for Americans and other programs. That’s building on top of enthusiasm already built about a powerful economic recovery coming later this year as COVID-19 vaccines roll out.

The market managed to look past much of last week’s bad news, including the attack on the U.S. Capitol on Wednesday, surging virus cases, and a disappointing employment report, said Julian Emanuel, BTIG chief equity and derivatives strategist. That both speaks to the market’s resiliency and could signal a change in attitudes.

“The fact that the market shrugged all of this news off, it’s ushering in a more speculative stage in the bull market,” he said.

The S&P 500 dropped 25.07 points to 3,799.61. The Dow Jones Industrial Average fell 89.28 points, or 0.3%, to 31,008.69. The Nasdaq composite slid 165.54 points, or 1.3%, to 13,036.43. The three indexes set all-time highs on Friday.

The market’s record-setting run means stocks and other investments are even more expensive, leaving critics to say they’ve gone too high. One of the main ways professional investors gauge a stock’s value is by measuring its price against how much profit it made in the prior 12 months. Stocks in the S&P 500 are trading at roughly 29 times their earnings. That’s a much more expensive price tag than their average over the last decade of a little below 18, according to FactSet.

“Given where we are in terms of valuation, there’s not going to be tolerance for news that isn’t good,” Emanuel said.

At the same time, the worsening pandemic continues to slam the economy. U.S. employers cut more jobs last month than they added, for example, the first month of job losses since last spring. New, potentially more contagious strains of the coronavirus are helping the pandemic to tighten its grip on the economy around the world.

In the background, political uncertainty also continues to hang over markets. Democrats are pushing for the removal of President Donald Trump, who has less than two weeks left in his term, after his words helped incite a group of loyalists to storm the Capitol last week.

“The equity markets remain forward-looking and focused on what is to come beyond the next 10-15 days,” said Bill Northey, senior investment director at U.S. Bank Wealth Management.

Shares of Twitter slid 6.4% for one of the largest losses in the S&P 500 after it banned Trump from his account and his 89 million followers. Twitter cited “the risk of further incitement of violence,” but the move has drawn a lot of anger from conservatives who may abandon the service and ask for more regulatory scrutiny of the company. Facebook fell 4% after it suspended Trump’s accounts.

Other areas of the market also lost momentum, but not by as much as social media stocks and Big Tech. Stocks of smaller companies fell, nudging the Russell 2000 index down 0.65 points, or less than 0.1%, to 2,091.01. It remains 5.9% higher for 2021 so far, more than quadruple the gain of the big stocks in the S&P 500. Investors have been rotating out of the winners of the stay-at-home pandemic economy and looking for potential winners of a recovering economy.

In the bond market, Treasury yields have been shooting higher, in part on expectations that the U.S. government is set to borrow a lot more money for stimulus programs. That has investors raising their expectations for economic growth and inflation. The yield on the 10-year Treasury climbed to 1.13% from 1.09% late Friday. It was just 0.89% at the end of 2020 after setting a record low during the year.

Higher long-term yields can put pressure on stock prices and make them look even more expensive. That’s because when bonds are paying investors more in interest to own them, they can pull buyers away from stocks. In general, higher interest rates make investors less willing to pay higher prices for stocks relative to their earnings.

Strategists at Morgan Stanley have been saying for months that bond yields may be set for a big rise, and they said in a report on Monday that stocks may have hit their peak for how much investors are willing to pay for each $1 of corporate earnings. That would put more pressure on companies to grow their earnings for their stock prices to rise further or even to hold steady.

Analysts expect strong profit growth to return for companies later this year as the economy recovers. But in upcoming weeks, when CEOs are scheduled to tell shareholders how much profit they made during the last three months of 2020, Wall Street expects to see a sharp drop. Analysts forecast S&P 500 companies to report a decline of nearly 9% in earnings per share from a year earlier, according to FactSet. If they’re right, it would be the third-worst drop since the summer of 2009.

European markets closed lower and Asian markets were mixed.


----------



## bigdog

*Stocks notch gains on Wall Street; Treasury yields climb*

Wall Street capped a wobbly day of trading Tuesday with modest gains, while Treasury yields extended their recent rally.

The S&P 500 inched up less than 0.1% after flipping between small gains and losses for much of the day. About 62% of companies in the index rose, with energy sector stocks notching the biggest gain as crude oil prices rose. Companies that rely on consumer spending also helped lift the market, outweighing declines in health care, communications and technology stocks.

Small-company stocks continued to outpace the rest of the market by a wide margin, a sign that investors are becoming more optimistic about an economic rebound. The Russell 2000 small-cap index climbed to a record high.

Banks and other financial companies added to recent gains as Treasury yields marched higher for the sixth straight day amid expectations that the economy will pull out of its slump after a powerful recovery sweeps the globe later this year. Bond yields can influence interest rates on mortgages and other consumer loans, boosting bank revenue.

“The odds of additional stimulus have gone up and we’re seeing some of the sectors that are likely beneficiaries being rewarded in terms of price movement,” said Sal Bruno, chief investment officer at IndexIQ.

The S&P 500 rose 1.58 points to 3,801.19. The Dow Jones Industrial Average gained 60 points, or 0.2%, to 31,068.69. The Nasdaq composite added 36 points, or 0.3%, to 13,072.43. The three indexes remain close to the all-time highs each set on Friday.

Markets have been charging higher recently amid a wave of optimism about the future. The rollout of coronavirus vaccines has Wall Street anticipating a big rebound for the economy and corporate profits as daily life starts to return toward normal later this year. Expectations are also rising for another round of stimulus coming for the economy because Democrats are set to soon have control of the White House, Senate and House.

But the gains have been so big that critics say stocks and other investments simply look too expensive. Some measures of value in the stock market are at their priciest levels since 2000, when the dot-com bubble was popping. That includes how much investors are paying for each $1 in profits that a company produces.

Low interest rates and almost non existent inflation have been encouraging investors to keep piling into stocks, even though their prices are rising faster than their profits. But longer-term interest rates have begun to pull higher with expectations for more borrowing by the U.S. government, economic growth and possibly inflation in the future. The yield on the 10-year Treasury briefly hit 1.18% Tuesday, before easing back to 1.14%. That’s up from 1.12% late Monday and from less than 0.90% at the start of the year.

“I wonder whether as the economy reopens and consumer confidence comes back does that further push rates up and challenge the justification of these values,” said Andrew Slimmon, portfolio manager at Morgan Stanley Investment Management.

Besides driving investors away from pricey stocks, higher interest rates can also make borrowing more expensive and hit the housing and other industries particularly hard. That could mean additional pressure on the Federal Reserve, which has been trying to keep interest rates low to jolt the economy out of its pandemic-caused weakness.

*ASX 200 expected to fall**.*

The Australian share market looks set to continue its poor run on Wednesday. According to the latest SPI futures, the ASX 200 is expected to fall 21 points or 0.3% lower this morning. This is despite it being a reasonably positive night of trade on Wall Street. On closing the Dow Jones is up 0.19%, the S&P 500 has risen 0.04% and the Nasdaq climbed 0.28%.












https://apnews.com/article/joe-bide...yo-hong-kong-48646eb192bc6b7553561b2b44daeaca

*Stocks notch gains on Wall Street; Treasury yields climb*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped a wobbly day of trading Tuesday with modest gains, while Treasury yields extended their recent rally.

The S&P 500 inched up less than 0.1% after flipping between small gains and losses for much of the day. About 62% of companies in the index rose, with energy sector stocks notching the biggest gain as crude oil prices rose. Companies that rely on consumer spending also helped lift the market, outweighing declines in health care, communications and technology stocks.

Small-company stocks continued to outpace the rest of the market by a wide margin, a sign that investors are becoming more optimistic about an economic rebound. The Russell 2000 small-cap index climbed to a record high.

Banks and other financial companies added to recent gains as Treasury yields marched higher for the sixth straight day amid expectations that the economy will pull out of its slump after a powerful recovery sweeps the globe later this year. Bond yields can influence interest rates on mortgages and other consumer loans, boosting bank revenue.

“The odds of additional stimulus have gone up and we’re seeing some of the sectors that are likely beneficiaries being rewarded in terms of price movement,” said Sal Bruno, chief investment officer at IndexIQ.

The S&P 500 rose 1.58 points to 3,801.19. The Dow Jones Industrial Average gained 60 points, or 0.2%, to 31,068.69. The Nasdaq composite added 36 points, or 0.3%, to 13,072.43. The three indexes remain close to the all-time highs each set on Friday.

Markets have been charging higher recently amid a wave of optimism about the future. The rollout of coronavirus vaccines has Wall Street anticipating a big rebound for the economy and corporate profits as daily life starts to return toward normal later this year. Expectations are also rising for another round of stimulus coming for the economy because Democrats are set to soon have control of the White House, Senate and House.

But the gains have been so big that critics say stocks and other investments simply look too expensive. Some measures of value in the stock market are at their priciest levels since 2000, when the dot-com bubble was popping. That includes how much investors are paying for each $1 in profits that a company produces.

Low interest rates and almost nonexistent inflation have been encouraging investors to keep piling into stocks, even though their prices are rising faster than their profits. But longer-term interest rates have begun to pull higher with expectations for more borrowing by the U.S. government, economic growth and possibly inflation in the future. The yield on the 10-year Treasury briefly hit 1.18% Tuesday, before easing back to 1.14%. That’s up from 1.12% late Monday and from less than 0.90% at the start of the year.

“I wonder whether as the economy reopens and consumer confidence comes back does that further push rates up and challenge the justification of these values,” said Andrew Slimmon, portfolio manager at Morgan Stanley Investment Management.

Besides driving investors away from pricey stocks, higher interest rates can also make borrowing more expensive and hit the housing and other industries particularly hard. That could mean additional pressure on the Federal Reserve, which has been trying to keep interest rates low to jolt the economy out of its pandemic-caused weakness.

The Fed has held short-term interest rates at a record low of nearly zero and bought all kinds of bonds in its drive to help the economy. Its next policy meeting on interest rates is in two weeks.

And despite all the hopes for the future, the present remains bleak. The pandemic is accelerating around the world, particularly as new and potentially more contagious variants of the coronavirus spread. That helped force U.S. employers to cut more jobs than they added in December, the first month that’s happened since the economy was collapsing during the spring.

Energy stocks made broad gains as crude oil prices advanced. Occidental Petroleum climbed 12.6% for the biggest gain in the index, while Marathon Oil rose 9.8%.

General Motors jumped 6.2% amid excitement about a business unit it’s creating to sell electric-powered delivery vehicles and equipment.

Stocks of smaller companies also rallied. The Russell 2000 index of small-caps gained 36.95 points, or 1.8%, to 2,127.96, a record high. They’ve been leading the market in recent weeks as investors see them benefiting much more from a healthier economy than behemoth stocks that managed to largely sustain themselves through the pandemic.

“You’re starting to see value stocks and financials putting in a consistent outperformance versus growth stocks,” Slimmon said. “But, as rates move higher that thesis becomes more challenged.”

On the losing end were several of those Big Tech stocks that cruised as work-from-home and other trends beneficial to them boosted their profits. Microsoft slipped 1.2%, Facebook fell 2.2% and Google’s parent company dipped 1.1%.

Profits will be in focus on Wall Street in upcoming weeks as companies report how much they made during the last three months of 2020. Banks are among the first to report, with several scheduled for Friday. Across the S&P 500, analysts are forecasting a sharp drop in earnings of nearly 9% from a year earlier.

Also hanging over the market will be political uncertainty. Democrats are pushing for the removal of President Donald Trump after his words incited a mob of loyalists to storm the Capitol last week. The FBI is also warning of plans for armed protests across the country in the days leading up to President-elect Joe Biden’s inauguration next week. .

Investors for the most part have been looking past such acrimony and violence, though. They’ve chosen to focus instead on the economic recovery they see as on the way.

In Europe, stock markets were modestly lower. Asian markets were mixed.


----------



## bigdog

*Wall Street drifts higher; Treasury yields slow their rise*

Stocks notched modest gains Wednesday following another choppy day of trading on Wall Street, leaving the market near its recent record highs.

The S&P 500 inched up 0.2% after flipping between small gains and losses in the early going. Gains in several Big Tech companies, including Intel, Apple and Amazon, helped nudge the S&P 500 higher, even tough most of the stocks in the index fell. Those gains outweighed losses in industrial, materials and other sectors.

Treasury yields stalled after rising sharply since the beginning of the year. The benchmark 10-year yield dipped as concerns calmed that the Federal Reserve may curtail its purchases of Treasurys. Expectations of higher government spending and the possibility of inflation have helped drive bond yields higher.

“There’s a tug of war in the market right now as to whether or not inflation will remain muted,” said Quincy Krosby, chief market strategist at Prudential Financial. “The market does not want to see inflation climb at a pace that forces the Fed’s hand.”

The S&P 500 rose 8.65 points to 3,809.84. The Dow Jones Industrial Average fell 8.22 points, or less than 0.1%, to 31,060.47. The tech-heavy Nasdaq composite added 56.52 points, or 0.4%, to 13,128.95.

Markets around the world have rushed higher recently on building optimism that a healthier economy is on the way because of the rollout of coronavirus vaccines and the prospect for more stimulus from a U.S. government soon to be run by Democrats.

Stocks that would benefit in particular from low rates helped drive the market higher Wednesday. Utility stocks tend to pay relatively big dividends, so their appeal often rises when bonds are paying less in interest and drawing fewer investors seeking income. Utilities rose 1.9% for the biggest gain among the 11 sectors that make up the S&P 500.

Tech stocks also climbed, as low interest rates help make investors more willing to pay high prices for their expected growth. Within the group, Intel jumped 7% after it said industry veteran Pat Gelsinger will take over as CEO next month. It also said it expects to report revenue and profit for the latest quarter above its prior forecast.

On the losing end were some of the market’s biggest winners recently, which have climbed with expectations for a stronger economy and higher rates. Raw-material producers in the S&P 500 fell 1.1%, while industrial stocks fell 0.6% and financial stocks lost 0.9%.

Stocks of smaller companies also pulled back from their big recent rally. The Russell 2000 index of small-cap stocks slid 15.99 points, or 0.8%, to 2,111.97. It remains 6.9% higher for 2021 so far. That towers over the 1.4% rise for the big stocks in the S&P 500.

*ASX 200 expected to edge higher.*

The Australian share market looks set to edge higher again on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 13 points or 0.2% higher this morning. This follows a positive night of trade on Wall Street, which on closing sees the Dow Jones down 0.03%, the S&P 500 up 0.23%, and the Nasdaq 0.43% higher.











https://apnews.com/article/joe-bide...-korea-tokyo-341dbd9eaf91560cf5173892122b6964

*Wall Street drifts higher; Treasury yields slow their rise*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Stocks notched modest gains Wednesday following another choppy day of trading on Wall Street, leaving the market near its recent record highs.

The S&P 500 inched up 0.2% after flipping between small gains and losses in the early going. Gains in several Big Tech companies, including Intel, Apple and Amazon, helped nudge the S&P 500 higher, even tough most of the stocks in the index fell. Those gains outweighed losses in industrial, materials and other sectors.

Treasury yields stalled after rising sharply since the beginning of the year. The benchmark 10-year yield dipped as concerns calmed that the Federal Reserve may curtail its purchases of Treasurys. Expectations of higher government spending and the possibility of inflation have helped drive bond yields higher.

“There’s a tug of war in the market right now as to whether or not inflation will remain muted,” said Quincy Krosby, chief market strategist at Prudential Financial. “The market does not want to see inflation climb at a pace that forces the Fed’s hand.”

The S&P 500 rose 8.65 points to 3,809.84. The Dow Jones Industrial Average fell 8.22 points, or less than 0.1%, to 31,060.47. The tech-heavy Nasdaq composite added 56.52 points, or 0.4%, to 13,128.95.

Markets around the world have rushed higher recently on building optimism that a healthier economy is on the way because of the rollout of coronavirus vaccines and the prospect for more stimulus from a U.S. government soon to be run by Democrats.

Some of the biggest action has been in the bond market, where expectations for increased federal borrowing, economic growth and inflation have pushed longer-term Treasury yields to their highest levels since last spring.

The yield on the 10-year Treasury slowed its ascent, though, and dipped to 1.10% from 1.12% late Tuesday. Analysts said statements from two Federal Reserve officials a day earlier helped to calm concerns that it may curtail its purchases of Treasurys. Those purchases have helped keep rates low in hopes of boosting financial markets and the economy.

The concerns are reminiscent of the 2013 “taper tantrum,” when markets tumbled after the Fed said it expected to slow bond purchases as the economy recovered.

A bond auction Wednesday that drew strong demand also helped pull Treasury yields lower, Krosby said.

Low rates have been one of the main underpinnings for the stock market’s rise to records, even as much of the economy still struggles under the worsening pandemic. The 10-year yield has been spurting higher, up from 0.90% on Jan. 4, the day before two runoff elections in Georgia gave control of the Senate — and thus Washington — to Democrats.

The Fed has had the freedom to keep short-term rates at nearly zero in part because inflation has remained weak. A report on Wednesday showed that prices at the consumer level were 1.4% higher in December from a year earlier. That was slightly more than economists expected, though it remains relatively low.

The Fed released its latest “Beige Book” Wednesday. The survey of U.S. business conditions found that the bulk of the Fed’s 12 regions reported modest gains in economic activity in recent weeks. But two districts saw declines in activity and another two reported little or no change.

If interest rates keep climbing, it could bolster the argument for critics of the stock market, who say it has climbed too high and left prices too expensive.

Stocks that would benefit in particular from low rates helped drive the market higher Wednesday. Utility stocks tend to pay relatively big dividends, so their appeal often rises when bonds are paying less in interest and drawing fewer investors seeking income. Utilities rose 1.9% for the biggest gain among the 11 sectors that make up the S&P 500.

Tech stocks also climbed, as low interest rates help make investors more willing to pay high prices for their expected growth. Within the group, Intel jumped 7% after it said industry veteran Pat Gelsinger will take over as CEO next month. It also said it expects to report revenue and profit for the latest quarter above its prior forecast.

On the losing end were some of the market’s biggest winners recently, which have climbed with expectations for a stronger economy and higher rates. Raw-material producers in the S&P 500 fell 1.1%, while industrial stocks fell 0.6% and financial stocks lost 0.9%.

Stocks of smaller companies also pulled back from their big recent rally. The Russell 2000 index of small-cap stocks slid 15.99 points, or 0.8%, to 2,111.97. It remains 6.9% higher for 2021 so far. That towers over the 1.4% rise for the big stocks in the S&P 500.

Other risks are also hanging over the market, headlined by the worsening pandemic. Accelerating coronavirus counts and hospitalizations are doing more damage to the economy, and U.S. employers cut more jobs last month than they added for the first time since the spring.

Political uncertainty continues to engulf Washington. A majority of lawmakers in the House of Representatives voted Wednesday to impeach President Donald Trump for incitement of insurrection. Democrats and even some Republicans concluded that Trump incited an insurrection after he encouraged a mob of loyalists who went on to storm the Capitol last week. The voting concluded after the close of regular trading.

Investors have been looking past such political turmoil for the most part, though, focusing instead on expectations for a stronger economy ahead.

President-elect Joe Biden is expected on Thursday to release details of his plan to support the economy. They could include bigger cash payments to most Americans.


----------



## Dona Ferentes

thanks for these updates, BD. Much appreciated.

 Just reading the opening lines







> _Stocks notched *modest *gains Wednesday following *another choppy day* of trading on Wall Street, leaving the market *near its recent record highs*,_



reminded me of the following quote: _“The great bull markets typically turn down when the market conditions are very favorable, just subtly less favorable than they were yesterday. And that is why they are always missed_.” (Jeremy Grantham)


----------



## bigdog

*Late drop in Big Tech stocks pulls indexes mostly lower*

Wall Street capped a day of listless trading Thursday with a late-afternoon pullback led by technology companies that left the major stock indexes in the red.

The S&P 500 fell 0.4%. The benchmark index, which had been up by 0.4%, was weighed down by losses in Apple, Microsoft and other huge tech companies even though most of the stocks in the index rose. Those losses outweighed gains in banks, industrials and other sectors.

Small-company stocks bucked the trend and continued to rally, a sign that investors are feeling more optimistic about the economy. Treasury yields also rose. Still, the market pullback has the S&P 500 on track for its first weekly loss in three weeks.

“It’s a pause in a momentum trade that probably keeps going for a while,” said Ross Mayfield, investment strategy analyst at Baird. “Sentiment is still pretty hot, but has cooled a little bit.”

The S&P 500 fell 14.30 points to 3,795.54. The Dow Jones Industrial Average slid 68.95 points, or 0.2%, to 30,991.52. The Nasdaq composite dropped 16.31 points, or 0.1%, to 13,112.64. The indexes are still close to their record highs set last week.

Markets have been mostly charging higher recently amid growing optimism that the rollout of coronavirus vaccines will set the stage for a big rebound for the economy and corporate profits later this year. Expectations are also rising for another round of stimulus coming for the economy because Democrats are set to soon have control of the White House, Senate and House.

President-elect Joe Biden was expected to detail his plan to bolster the economy in a speech later Thursday. Anticipation is high that it will include bigger cash payments for most Americans and other stimulus. The hope is that can tide the economy over until COVID-19 vaccines get daily life back toward normal and trigger a powerful recovery later this year.

Another discouraging report underscored on Thursday how much damage the economy is taking as the pandemic worsens. Last week, 965,000 more U.S. workers filed for unemployment benefits last week as businesses shutter and lay off employees. That’s up sharply from the prior week’s tally of 784,000, and it was much worse than economists expected.

Such numbers could be fodder for critics of the stock market, who say prices have soared too high and look too expensive. But several analysts said they expect investors to continue to focus on hopes for a brighter future as temperatures warm and more people get vaccines.

“Further, a bleaker than expected jobs report translates into a greater likelihood for a full-throated stimulus package, which perversely acts as a tailwind for the market,” said Mike Loewengart, managing director of investment strategy at E-Trade Financial.

Stocks of companies that would benefit in particular from a healthier, reopening economy held up best Thursday.

Smaller companies jumped more than the rest of the market, as they often do when investors are upgrading their expectations for the economy. The Russell 2000 index of small-cap stocks rose 43.38 points, or 2.1%, 2,155.35, continuing its much better performance than the big stocks in the S&P 500 so far this year.

Airlines, oil producers and cruise-ship operators also clawed back more of their steep losses from last year, when sales for many of them suddenly vanished because of the pandemic.

Delta Air Lines rose 2.5% even though it said it lost more money during the last three months of 2020 than analysts expected. The airline said it sees business turning higher through 2021 as vaccinations become more widespread and offices reopen. By the spring, it expects to stop burning more cash than it brings in.

Poshmark surged 141.7% in its initial public offering, which was priced at $42 per share. The company connects buyers and sellers of secondhand fashion and home decor online. Petco, whose stores sell pet food and sometimes have veterinary hospitals, surged 63.3% in its first day of trading after its shares priced at $18.

Longer-term Treasury yields rose. The yield on the 10-year Treasury rose to 1.13% from 1.07% late Wednesday. It’s been climbing sharply recently on expectations that COVID-19 vaccines and the soon-to-be Democratically controlled Washington will lead to more federal borrowing, economic growth and inflation. The 10-year yield was at 0.90% less two weeks ago, before two runoff elections in Georgia gave control of the Senate to Democrats.

One concern in the market has been about how much higher yields can go before upsetting the stock market. Low rates have been one of the main underpinnings for the market’s march to records even though the economy is still struggling.

“If interest rates continue to go higher, that could put a damper on the entire market,” said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance.

*ASX 200 expected to rise again**.*
The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 8 points or 0.1% higher this morning. 
Wall Street on closing saw the Dow Jones down 0.22%, the S&P 500 down 0.38%, and the Nasdaq trading 0.12% lower.










https://apnews.com/article/capitol-...global-trade-71f45d6ec9ec3d0e61dcba38778190c1

*Late drop in Big Tech stocks pulls indexes mostly lower*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped a day of listless trading Thursday with a late-afternoon pullback led by technology companies that left the major stock indexes in the red.

The S&P 500 fell 0.4%. The benchmark index, which had been up by 0.4%, was weighed down by losses in Apple, Microsoft and other huge tech companies even though most of the stocks in the index rose. Those losses outweighed gains in banks, industrials and other sectors.

Small-company stocks bucked the trend and continued to rally, a sign that investors are feeling more optimistic about the economy. Treasury yields also rose. Still, the market pullback has the S&P 500 on track for its first weekly loss in three weeks.

“It’s a pause in a momentum trade that probably keeps going for a while,” said Ross Mayfield, investment strategy analyst at Baird. “Sentiment is still pretty hot, but has cooled a little bit.”

The S&P 500 fell 14.30 points to 3,795.54. The Dow Jones Industrial Average slid 68.95 points, or 0.2%, to 30,991.52. The Nasdaq composite dropped 16.31 points, or 0.1%, to 13,112.64. The indexes are still close to their record highs set last week.

Markets have been mostly charging higher recently amid growing optimism that the rollout of coronavirus vaccines will set the stage for a big rebound for the economy and corporate profits later this year. Expectations are also rising for another round of stimulus coming for the economy because Democrats are set to soon have control of the White House, Senate and House.

President-elect Joe Biden was expected to detail his plan to bolster the economy in a speech later Thursday. Anticipation is high that it will include bigger cash payments for most Americans and other stimulus. The hope is that can tide the economy over until COVID-19 vaccines get daily life back toward normal and trigger a powerful recovery later this year.

Another discouraging report underscored on Thursday how much damage the economy is taking as the pandemic worsens. Last week, 965,000 more U.S. workers filed for unemployment benefits last week as businesses shutter and lay off employees. That’s up sharply from the prior week’s tally of 784,000, and it was much worse than economists expected.

Such numbers could be fodder for critics of the stock market, who say prices have soared too high and look too expensive. But several analysts said they expect investors to continue to focus on hopes for a brighter future as temperatures warm and more people get vaccines.

“Further, a bleaker than expected jobs report translates into a greater likelihood for a full-throated stimulus package, which perversely acts as a tailwind for the market,” said Mike Loewengart, managing director of investment strategy at E-Trade Financial.

Stocks of companies that would benefit in particular from a healthier, reopening economy held up best Thursday.

Smaller companies jumped more than the rest of the market, as they often do when investors are upgrading their expectations for the economy. The Russell 2000 index of small-cap stocks rose 43.38 points, or 2.1%, 2,155.35, continuing its much better performance than the big stocks in the S&P 500 so far this year.

Airlines, oil producers and cruise-ship operators also clawed back more of their steep losses from last year, when sales for many of them suddenly vanished because of the pandemic.

Delta Air Lines rose 2.5% even though it said it lost more money during the last three months of 2020 than analysts expected. The airline said it sees business turning higher through 2021 as vaccinations become more widespread and offices reopen. By the spring, it expects to stop burning more cash than it brings in.

Poshmark surged 141.7% in its initial public offering, which was priced at $42 per share. The company connects buyers and sellers of secondhand fashion and home decor online. Petco, whose stores sell pet food and sometimes have veterinary hospitals, surged 63.3% in its first day of trading after its shares priced at $18.

Longer-term Treasury yields rose. The yield on the 10-year Treasury rose to 1.13% from 1.07% late Wednesday. It’s been climbing sharply recently on expectations that COVID-19 vaccines and the soon-to-be Democratically controlled Washington will lead to more federal borrowing, economic growth and inflation. The 10-year yield was at 0.90% less two weeks ago, before two runoff elections in Georgia gave control of the Senate to Democrats.

One concern in the market has been about how much higher yields can go before upsetting the stock market. Low rates have been one of the main underpinnings for the market’s march to records even though the economy is still struggling.

“If interest rates continue to go higher, that could put a damper on the entire market,” said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance.

Low rates mean bonds are paying less in interest, which can push some investors away from bonds and into stocks. They generally make investors more willing to push prices for stocks up even faster than their earnings are rising. Now, investors are paying the highest prices since the dot-com bubble was deflating in 2000 for S&P 500 stocks versus their earnings over the prior 12 months.

That has investors keeping a close eye on the Federal Reserve, which has said it plans to keep short-term rates low even after inflation rises passes its 2% target. Fed Chair Jerome Powell, speaking at an online event hosted by Princeton University, said Thursday that the time to raise interest rates “is no time soon.”


----------



## bigdog

*Stocks Fall as Economic Pain Deepens, Rally Runs Out of Gas*

Wall Street closed out its first losing week in three with another drop on Friday after reports showed the pandemic is deepening the hole for the economy, as Washington prepares to throw it another lifeline.

The S&P 500 fell 27.29, or 0.7%, to 3,768.25, with stocks of companies that most need a healthier economy taking some of the sharpest losses. The Dow Jones Industrial Average lost 177.26, or 0.6%, to 30,814.26, and the Nasdaq composite dropped 114.14, or 0.9%, to 12,998.50.

Treasury yields also dipped as reports showed shoppers held back on spending during the holidays and are feeling less confident, the latest in a litany of discouraging data on the economy.

Stocks have run out of steam since the S&P 500 set a record high a week ago amid optimism that COVID-19 vaccines and more stimulus from Washington will bring an economic recovery. The S&P 500 fell 1.5% over the week.

Friday offered the first chance for traders to act after President-elect Joe Biden unveiled details of a $1.9 trillion plan to prop up the economy. He called for $1,400 cash payments for most Americans, the extension of temporary benefits for laid-off workers and a push to get COVID-19 vaccines to more Americans. It certainly fit with investors’ expectation for a big and bold plan, but markets had already rallied powerfully in anticipation of it.

“To some extent, most of this optimism had been priced in, but the huge figures had also invited some contemplation as to whether the necessary bipartisan support will materialize for this huge sum,” Jingyi Pan of IG said in a commentary. “The market appears to be playing it safe,” she said.

Biden’s Democratic allies will have control of the House and Senate, but only by the slimmest of margins in the Senate. That could hinder the chances of the plan’s passage.

The urgency for providing such aid is ramping by the day. One report on Friday showed that sales at retailers sank by 0.7% in December, a crucial month for the industry. The reading was much worse than the 0.1% growth that economists were expecting, and it was the third straight month of weakness.

Other reports showed that a preliminary reading on consumer sentiment weakened more than economists expected, while inflation at the wholesale level remains low as the worsening pandemic keeps a lid on prices and economic activity. They follow a dismal report from Thursday showing that the pace of layoffs is accelerating across the country.

Falling bank stocks were some of the heaviest weights on the market, even though several of the industry's biggest names reported stronger profits for the end of 2020 than analysts expected. Wells Fargo slumped 7.8%, for example, and Citigroup dropped 6.9%.

While the overall results were good, “bank earnings didn't exactly wow anybody,” said J.J. Kinahan, chief strategist with TD Ameritrade.

Bank stocks had run up in prior weeks on expectations that a stronger economy later this year and higher interest rates would mean bigger profits from making loans.

Like banks, stocks of smaller companies also fell more than the rest of the market in a mirror image of recent weeks. Smaller companies are seen as benefiting more from a healthier economy and stimulus from Washington than their bigger rivals, in part because they tend to have smaller financial cushions.

The Russell 2000 index of small-cap stocks lost 32.15, or 1.5%, to 2,123.20.

Even with Friday's drops, ebullience about a brighter economic future because of vaccines is keeping stocks near records and Treasury yields close to their highest levels since last spring. The Russell 2000 remains 7.5% higher for 2021 so far, towering over the S&P 500′s 0.3% gain.

A big question for investors is what big stimulus for the economy from Washington would mean for interest rates.











https://www.usnews.com/news/busines...llow-wall-st-lower-as-traders-mull-biden-plan

*Stocks Fall as Economic Pain Deepens, Rally Runs Out of Gas*
Wall Street closed out its first losing week in three with another drop after reports showed the pandemic is deepening the hole for the economy, as Washington prepares to throw it another lifeline*.*

By Associated Press, Wire Service Content Jan. 15, 2021, at 4:27 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — Wall Street closed out its first losing week in three with another drop on Friday after reports showed the pandemic is deepening the hole for the economy, as Washington prepares to throw it another lifeline.

The S&P 500 fell 27.29, or 0.7%, to 3,768.25, with stocks of companies that most need a healthier economy taking some of the sharpest losses. The Dow Jones Industrial Average lost 177.26, or 0.6%, to 30,814.26, and the Nasdaq composite dropped 114.14, or 0.9%, to 12,998.50.

Treasury yields also dipped as reports showed shoppers held back on spending during the holidays and are feeling less confident, the latest in a litany of discouraging data on the economy.

Stocks have run out of steam since the S&P 500 set a record high a week ago amid optimism that COVID-19 vaccines and more stimulus from Washington will bring an economic recovery. The S&P 500 fell 1.5% over the week.

Friday offered the first chance for traders to act after President-elect Joe Biden unveiled details of a $1.9 trillion plan to prop up the economy. He called for $1,400 cash payments for most Americans, the extension of temporary benefits for laid-off workers and a push to get COVID-19 vaccines to more Americans. It certainly fit with investors’ expectation for a big and bold plan, but markets had already rallied powerfully in anticipation of it.

“To some extent, most of this optimism had been priced in, but the huge figures had also invited some contemplation as to whether the necessary bipartisan support will materialize for this huge sum,” Jingyi Pan of IG said in a commentary. “The market appears to be playing it safe,” she said.

Biden’s Democratic allies will have control of the House and Senate, but only by the slimmest of margins in the Senate. That could hinder the chances of the plan’s passage.

The urgency for providing such aid is ramping by the day. One report on Friday showed that sales at retailers sank by 0.7% in December, a crucial month for the industry. The reading was much worse than the 0.1% growth that economists were expecting, and it was the third straight month of weakness.

Other reports showed that a preliminary reading on consumer sentiment weakened more than economists expected, while inflation at the wholesale level remains low as the worsening pandemic keeps a lid on prices and economic activity. They follow a dismal report from Thursday showing that the pace of layoffs is accelerating across the country.

Falling bank stocks were some of the heaviest weights on the market, even though several of the industry's biggest names reported stronger profits for the end of 2020 than analysts expected. Wells Fargo slumped 7.8%, for example, and Citigroup dropped 6.9%.

While the overall results were good, “bank earnings didn't exactly wow anybody,” said J.J. Kinahan, chief strategist with TD Ameritrade.

Bank stocks had run up in prior weeks on expectations that a stronger economy later this year and higher interest rates would mean bigger profits from making loans.

Like banks, stocks of smaller companies also fell more than the rest of the market in a mirror image of recent weeks. Smaller companies are seen as benefiting more from a healthier economy and stimulus from Washington than their bigger rivals, in part because they tend to have smaller financial cushions.

The Russell 2000 index of small-cap stocks lost 32.15, or 1.5%, to 2,123.20.

Even with Friday's drops, ebullience about a brighter economic future because of vaccines is keeping stocks near records and Treasury yields close to their highest levels since last spring. The Russell 2000 remains 7.5% higher for 2021 so far, towering over the S&P 500′s 0.3% gain.

A big question for investors is what big stimulus for the economy from Washington would mean for interest rates.

“There are consequences to putting money into the system and the consequence is inflation," Kinahan said.

Treasury yields have been climbing on expectations that the government will borrow a lot more to pay for its stimulus, as well as rising forecasts for economic growth and inflation. The yield on the 10-year Treasury zoomed above 1% last week for the first time since last spring and briefly topped 1.18% this week.

That is raising worries about how much further interest rates can go before upsetting the stock market. Federal Reserve Chair Jerome Powell helped to calm some of those concerns on Thursday with comments that investors took as leaning toward lower rates for longer.

The yield on the 10-year Treasury dipped to 1.09% from 1.11% late Thursday.

In markets abroad, European stocks slumped, while Asian indexes were mixed.


----------



## bigdog

*ASX 200 expected to fall.*

It looks set to be a disappointing start to the week for the Australian share market on Monday. According to the latest SPI futures, the ASX 200 is poised to open the week 16 points or 0.25% lower. This follows a poor end to the week on Wall Street, which saw the Dow Jones fall 0.6%, the S&P 500 drop 0.7%, and the Nasdaq tumble 0.9% lower.


----------



## bigdog

*New York Stock Exchange was closed Monday, January 18 for Martin Luther King, Jr. Day

World Shares Subdued Despite Strong Growth Data From China*
World markets have gotten off to a slow start for the week despite news that the Chinese economy grew 2.3% in 2020.

Stock markets got off to a slow start for the week despite news that the Chinese economy grew 2.3% in 2020 after a sharp contraction early in the year.

Shares fell in London and Tokyo on Monday but advanced in Hong Kong, Paris and Shanghai. Most U.S. markets are closed for a national holiday.

Investors appear to have grown increasingly wary over the deepening economic devastation from the pandemic despite hopes that COVID-19 vaccines and fresh aid for the U.S. economy might hasten a global recovery.

In Britain, the FTSE 100 dropped 0.2% to close the day at 6,720.65. Germany's DAX edged 0.4% higher to 13,848.35 and the CAC 40 in Paris rose 0.1% to 5,617.27.

*ASX 200 expected to rebound.*
The Australian share market looks set to bounce back from yesterday’s decline. According to the latest SPI futures, the ASX 200 is poised to open 34 points or 0.5% this morning. This follows a largely positive night of trade in Europe on Monday. US markets were closed for Martin Luther King Jr. Day.


*New York Stock Exchange was closed Monday, January 18 for Martin Luther King, Jr. Day*






*Rest of indexes*










https://www.usnews.com/news/busines...hares-mostly-lower-china-gains-on-gdp-rebound

*World Shares Subdued Despite Strong Growth Data From China*
World markets have gotten off to a slow start for the week despite news that the Chinese economy grew 2.3% in 2020.
By Associated Press, Wire Service Content Jan. 18, 2021, at 12:05 p.m.

By ELAINE KURTENBACH, AP Business Writer

Stock markets got off to a slow start for the week despite news that the Chinese economy grew 2.3% in 2020 after a sharp contraction early in the year.

Shares fell in London and Tokyo on Monday but advanced in Hong Kong, Paris and Shanghai. Most U.S. markets are closed for a national holiday.

Investors appear to have grown increasingly wary over the deepening economic devastation from the pandemic despite hopes that COVID-19 vaccines and fresh aid for the U.S. economy might hasten a global recovery.

In Britain, the FTSE 100 dropped 0.2% to close the day at 6,720.65. Germany's DAX edged 0.4% higher to 13,848.35 and the CAC 40 in Paris rose 0.1% to 5,617.27.

China was the first country to suffer outbreaks of the new coronavirus and the first major economy to begin recovering as meanwhile the U.S., Europe and Japan are struggling with outbreaks.

The National Bureau of Statistics said growth in the three months ending in December rose to 6.5% over a year earlier, up from the previous quarter’s 4.9%. The economy contracted at a 6.8% pace in the first quarter of 2020 as the country fought the pandemic with shutdowns and other restrictions.

Some measures showed a slowing of activity in December, but “The big picture is still that activity remains strong, which is helping to support the labor market,” Stephen Innes of Axi said in a commentary.

The Hang Seng in Hong Kong gained 1% to 28,862.77, while the Shanghai Composite index climbed 0.8% to 3,596.22.

But gloom prevailed in other major regional markets. Tokyo's Nikkei 225 dropped 1% to 28,242.21 and the Kospi in South Korea lost 2.3% to 3,013.93. Australia’s S&P/ASX 200 declined 0.8% to 6,663.00. Shares fell in Southeast Asia and Taiwan.

On Friday, the S&P 500 fell 0.7% to 3,768.25, with stocks of companies that most need a healthier economy taking some of the sharpest losses. It lost 1.5% for the week. The Dow Jones Industrial Average lost 0.6% to 30,814.26, and the Nasdaq composite dropped 0.9% to 12,998.50.

Treasury yields have been climbing on expectations the U.S. government will borrow much more to pay for the additional stimulus proposed by President-elect Joe Biden, in addition to improved economic growth and higher inflation. The yield on the 10-year Treasury zoomed above 1% last week for the first time since last spring and briefly topped 1.18% this week.

In other trading, benchmark U.S crude oil lost 12 cents to $52.24 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, shed 20 cents to $54.90 per barrel.

The dollar was trading at 103.67 Japanese yen, down from 103.88 yen on Friday. The euro slipped to $1.2076 from $1.2078.


----------



## bigdog

*Wall Street’s momentum swings back as stocks, yields tick up*

Wall Street kicked off a holiday-shortened week with broad gains for stocks Tuesday, as the market recovered most of its losses from last week.

The S&P 500 gained 0.8%, pulling to within 1% of its record high set earlier this month. About 60% of the companies in the benchmark index rose. Technology, communication services and health care stocks accounted for much of the rally, though energy sector companies notched the biggest gain. Treasury yields rose.

The gains marked a reversal from last week, when stocks ran out of steam after a strong start to the year. Markets have been rising on enthusiasm about a coming economic recovery as COVID-19 vaccines roll out and Washington gets set to try for another massive round of stimulus for the economy.

Janet Yellen, President-elect Joe Biden’s nominee to be Treasury Secretary, is calling on Congress to do more to boost the economy. In testimony during her confirmation hearing on Tuesday, she said that with interest rates near their record lows, “the smartest thing we can do is act big” to avoid an even worse downturn in the near term and scarring for the economy in the long term.

Biden last week released details of a $1.9 trillion plan to bolster the economy, which would include $1,400 cash payments for most Americans. Democrats are also pushing for an accelerated rollout of COVID-19 vaccines, a higher minimum wage for workers and enhanced benefits for laid-off workers. The hope is that such stimulus can carry the economy until later this year, when more widespread vaccinations get life returning to some semblance of normal.

“If most of this is implemented, it does suggest significant pickup in economic growth as we head through to the fourth quarter of this year,” said David Kelly, chief global strategist at JPMorgan Funds.

The S&P 500 rose 30.66 points to 3,798.91. The Dow Jones Industrial Average added 116.26 points, or 0.4%, to 30,930.52. The Nasdaq composite gained 198.68 points, or 1.5%, to 13,197.18.

Traders continued to bid up shares in smaller companies, a sign of confidence in the prospects for future economic growth. The Russell 2000 index picked up 27.94 points, or 1.3%, to 2,151.14.

U.S. markets were closed Monday in observance of Martin Luther King Day.

The case for more economic stimulus from the government has been rising by the day. Dismal reports have piled up showing how the worsening pandemic has more workers applying for jobless benefits and shoppers feeling less confident.

Tuesday’s Senate Finance Committee hearing with Yellen is one of several that the Senate will be holding as the incoming Biden administration tries to get its top Cabinet officials in office quickly. Biden is set to take the oath of office on Wednesday, ending President Donald Trump’s four-year term.

Besides stocks, the optimism about an eventual acceleration for the economy and another round of stimulus have also helped push Treasury yields up sharply recently.

The yield on the 10-year Treasury climbed to 1.10% from 1.08% late Friday. Higher rates could eventually add pressure on stocks, underscoring more how expensive stocks have become relative to the profits that companies are producing.

But some areas of the stock market could benefit, including banks. Higher rates and a healthier economy would allow them to earn bigger profits from making loans.


*ASX 200 expected to rise.*

It looks set to be another positive day for the ASX 200 on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 13 points or 0.2% higher. This follows a strong start to the week on Wall Street, where closing sees the Dow Jones up 0.38%, the S&P 500 up 0.81%, and the Nasdaq index up 1.53%. US markets were closed for Martin Luther King Jr. Day on Monday.










https://apnews.com/article/biden-in...arkets-seoul-b939b9a2893c7b09ec94ab0b4e3ed229

*Wall Street’s momentum swings back as stocks, yields tick up*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Wall Street kicked off a holiday-shortened week with broad gains for stocks Tuesday, as the market recovered most of its losses from last week.

The S&P 500 gained 0.8%, pulling to within 1% of its record high set earlier this month. About 60% of the companies in the benchmark index rose. Technology, communication services and health care stocks accounted for much of the rally, though energy sector companies notched the biggest gain. Treasury yields rose.

The gains marked a reversal from last week, when stocks ran out of steam after a strong start to the year. Markets have been rising on enthusiasm about a coming economic recovery as COVID-19 vaccines roll out and Washington gets set to try for another massive round of stimulus for the economy.

Janet Yellen, President-elect Joe Biden’s nominee to be Treasury Secretary, is calling on Congress to do more to boost the economy. In testimony during her confirmation hearing on Tuesday, she said that with interest rates near their record lows, “the smartest thing we can do is act big” to avoid an even worse downturn in the near term and scarring for the economy in the long term.

Biden last week released details of a $1.9 trillion plan to bolster the economy, which would include $1,400 cash payments for most Americans. Democrats are also pushing for an accelerated rollout of COVID-19 vaccines, a higher minimum wage for workers and enhanced benefits for laid-off workers. The hope is that such stimulus can carry the economy until later this year, when more widespread vaccinations get life returning to some semblance of normal.

“If most of this is implemented, it does suggest significant pickup in economic growth as we head through to the fourth quarter of this year,” said David Kelly, chief global strategist at JPMorgan Funds.

The S&P 500 rose 30.66 points to 3,798.91. The Dow Jones Industrial Average added 116.26 points, or 0.4%, to 30,930.52. The Nasdaq composite gained 198.68 points, or 1.5%, to 13,197.18.

Traders continued to bid up shares in smaller companies, a sign of confidence in the prospects for future economic growth. The Russell 2000 index picked up 27.94 points, or 1.3%, to 2,151.14.

U.S. markets were closed Monday in observance of Martin Luther King Day.

The case for more economic stimulus from the government has been rising by the day. Dismal reports have piled up showing how the worsening pandemic has more workers applying for jobless benefits and shoppers feeling less confident.

Tuesday’s Senate Finance Committee hearing with Yellen is one of several that the Senate will be holding as the incoming Biden administration tries to get its top Cabinet officials in office quickly. Biden is set to take the oath of office on Wednesday, ending President Donald Trump’s four-year term.

Besides stocks, the optimism about an eventual acceleration for the economy and another round of stimulus have also helped push Treasury yields up sharply recently.

The yield on the 10-year Treasury climbed to 1.10% from 1.08% late Friday. Higher rates could eventually add pressure on stocks, underscoring more how expensive stocks have become relative to the profits that companies are producing.

But some areas of the stock market could benefit, including banks. Higher rates and a healthier economy would allow them to earn bigger profits from making loans.

Bank of America slipped 0.7% after reporting a weaker profit for the last three months of 2020 than a year earlier, though its results were still above analysts’ expectations. The bank also said expectations for a healing economy mean it doesn’t need to hold onto as much in reserves to cover for potentially bad loans.

Goldman Sachs, State Street and Halliburton also reported stronger results for the end of 2020 than analysts expected as earnings reporting season picks up pace. Wall Street is expecting a relatively weak showing across the S&P 500 this time around, with another sharp drop in earnings per share. But analysts expect growth to rebound powerfully through 2021.

General Motors jumped 9.7% for the biggest gain in the S&P 500 after saying its self-driving car company, Cruise, will work with Microsoft to develop autonomous, all-electric vehicles. GM, Microsoft, Honda and other investors will also pump $2 billion into Cruise, valuing it at $30 billion. GM bought Cruise in 2016. Microsoft shares rose 1.8%.

Western Union rose 2% after it said it will begin offering money transfer and other services at more than 4,700 Walmart stores, beginning in the spring. Walmart slipped 0.9%.

Netflix surged in after-hours trading after the video streaming giant reported results that blew past Wall Street’s forecasts.

NOV slid 5.9% for one of the biggest losses in the S&P 500 after saying it expects to report weaker revenue and results for the end of 2020 than it had earlier forecast. The energy company said the resurgence of COVID-19 infections pushed customers to slow their orders.


----------



## bigdog

https://www.usnews.com/news/busines...gain-on-hopes-biden-will-act-on-economy-virus

*Wall Street Hits Records as Hopes Build for More Stimulus*
Stocks rallied to record highs on Wall Street as traders hoped that new leadership in Washington will mean more support for the economy, which is still reeling from joblessness and business closures because of the pandemic.

Wall Street marked the dawn of President Joe Biden's administration with stocks rallying to record highs as hopes build that new leadership in Washington will mean more support for the struggling U.S. economy.

The S&P 500 rose 1.4%, topping its previous all-time high set earlier this month. The Dow Jones Industrial Average, Nasdaq composite and Russell 2000 index of smaller companies also notched record highs, powered by gains in technology, communications, health care and most other sectors.

Biden, now the nation's 46th president, has a flurry of executive actions at the ready. He has also pitched a plan to pump $1.9 trillion more into the struggling economy, hoping to act quickly as his Democratic party takes control of the White House and both houses of Congress.

The hope on Wall Street is that such stimulus will help carry the economy until later this year, when more widespread COVID-19 vaccinations get daily life closer to normal. Such hopes have helped stocks and Treasury yields rise, even as the worsening pandemic digs a deeper hole for the economy. Spiraling coronavirus counts and deaths have more workers applying for unemployment benefits and shoppers feeling less confident.

“Most of Wall Street is assuming that the second half (of 2021) is when we will see pent-up demand start to show up in the economy, and that will push economic indicators higher and will likely cause a ramp up in earnings projections," said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 rose 52.94 points to 3,851.85. The Dow gained 257.86 points, or 0.8%, to 31,188.38. The Nasdaq climbed 260.07 points, or 2%, to 13,457.25. The Russell 2000 picked up 9.48 points, or 0.4%, to 2,160.62.

A better-than-expected start to earnings reporting season also helped lift the market Wednesday. Analysts came in with low expectations, forecasting the big companies in the S&P 500 will report a fourth straight drop in earnings per share because of the damage from the pandemic. But the vast majority of the earliest reports have managed to top forecasts.

Netflix jumped 16.9% for the S&P 500′s biggest gain after it said it ended last year with more than 200 million subscribers. It also said it made more in revenue during the end of 2020 than analysts expected, though its earnings fell short of forecasts. Business is good enough for the company that it says it likely doesn’t need to borrow anymore to cover its day-to-day operations.

In Washington, the Biden administration took control of the White House from Donald Trump, who pointed again on Wednesday to the stock market's level as validation of his work.

Trump's preferred measure is often the Dow Jones Industrial Average, even though the S&P 500 is much more important to most workers' 401(k) accounts. Under Trump, the Dow had an a annualized return of 11.8% from his inauguration until his last day in office, according to Ryan Detrick, chief market strategist for LPL Financial. That's better than any Republican president since Calvin Coolidge during the roaring 1920s, but it's not as good as the returns for Bill Clinton or Barack Obama.

Trump has said in the past that he should get credit for the stock market's gains following his election but before his inauguration. The market got a “Trump bump” then on anticipation of lower tax rates, less regulation on companies and faster economic growth. Much of that did come to fruition, but the COVID-19 pandemic and the government's response to it upended everything in 2020.

Gains for stocks have also been accelerating since Biden's election, before his inauguration, on enthusiasm about COVID-19 vaccines and hopes that he and Congress can deliver more stimulus for the economy. The bump for stocks between the most recent Election Day and Biden's inauguration is bigger than Trump's bump before his inauguration.

“The market is up more than 13% since Election Day," Stovall said, noting that since World War II, the S&P 500 has risen an average of 3.5% in the first 100 days of a Democratic president's administration, versus an average gain of 0.5% when a Republican was in the White House.

Janet Yellen, Biden’s nominee to be Treasury secretary, told the Senate Finance Committee during her confirmation hearing on Tuesday that the incoming administration would focus on winning quick passage of its $1.9 trillion plan.

“More must be done,” Yellen said. “Without further action, we risk a longer, more painful recession now — and long-term scarring of the economy later.”

Analysts have been expressing concerns about pricey stock values heading into the latest round of corporate earnings, but they look more reasonable amid the backdrop of historically low interest rates, said Solita Marcelli, chief investment officer, Americas, at UBS Global Wealth Management. The low rates, along with new stimulus and the continued rollout of vaccines, will likely help bolster markets and the recovery.

“We think that global growth is going to continue to pick up,” she said.

Companies will need to meet the market's expectations — including for a huge rebound in profit growth through 2021 — to validate the big runs for their stock prices during 2020, even as their profits plummeted. Stocks of several companies slipped on Wednesday, even though they reported stronger profits than expected. Procter & Gamble fell 1%, for example.

The yield on the 10-year Treasury rose to 1.09% from 1.07% late Tuesday.

*ASX 200 expected to rise again*

The ASX 200 looks set to continue its winning streak on Thursday. According to the latest SPI futures, the index is poised to open the day 27 points or 0.4% higher. This follows a very positive night of trade on Wall Street, which on closing sees the Dow Jones up 0.83%, the S&P 500 up 1.39%, and the Nasdaq index up 1.97%.












https://www.usnews.com/news/busines...gain-on-hopes-biden-will-act-on-economy-virus

*Wall Street Hits Records as Hopes Build for More Stimulus*
Stocks rallied to record highs on Wall Street as traders hoped that new leadership in Washington will mean more support for the economy, which is still reeling from joblessness and business closures because of the pandemic.
By Associated Press, Wire Service Content Jan. 20, 2021, at 4:45 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street marked the dawn of President Joe Biden's administration with stocks rallying to record highs as hopes build that new leadership in Washington will mean more support for the struggling U.S. economy.

The S&P 500 rose 1.4%, topping its previous all-time high set earlier this month. The Dow Jones Industrial Average, Nasdaq composite and Russell 2000 index of smaller companies also notched record highs, powered by gains in technology, communications, health care and most other sectors.

Biden, now the nation's 46th president, has a flurry of executive actions at the ready. He has also pitched a plan to pump $1.9 trillion more into the struggling economy, hoping to act quickly as his Democratic party takes control of the White House and both houses of Congress.

The hope on Wall Street is that such stimulus will help carry the economy until later this year, when more widespread COVID-19 vaccinations get daily life closer to normal. Such hopes have helped stocks and Treasury yields rise, even as the worsening pandemic digs a deeper hole for the economy. Spiraling coronavirus counts and deaths have more workers applying for unemployment benefits and shoppers feeling less confident.

“Most of Wall Street is assuming that the second half (of 2021) is when we will see pent-up demand start to show up in the economy, and that will push economic indicators higher and will likely cause a ramp up in earnings projections," said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 rose 52.94 points to 3,851.85. The Dow gained 257.86 points, or 0.8%, to 31,188.38. The Nasdaq climbed 260.07 points, or 2%, to 13,457.25. The Russell 2000 picked up 9.48 points, or 0.4%, to 2,160.62.

A better-than-expected start to earnings reporting season also helped lift the market Wednesday. Analysts came in with low expectations, forecasting the big companies in the S&P 500 will report a fourth straight drop in earnings per share because of the damage from the pandemic. But the vast majority of the earliest reports have managed to top forecasts.

Netflix jumped 16.9% for the S&P 500′s biggest gain after it said it ended last year with more than 200 million subscribers. It also said it made more in revenue during the end of 2020 than analysts expected, though its earnings fell short of forecasts. Business is good enough for the company that it says it likely doesn’t need to borrow anymore to cover its day-to-day operations.

In Washington, the Biden administration took control of the White House from Donald Trump, who pointed again on Wednesday to the stock market's level as validation of his work.

Trump's preferred measure is often the Dow Jones Industrial Average, even though the S&P 500 is much more important to most workers' 401(k) accounts. Under Trump, the Dow had an a annualized return of 11.8% from his inauguration until his last day in office, according to Ryan Detrick, chief market strategist for LPL Financial. That's better than any Republican president since Calvin Coolidge during the roaring 1920s, but it's not as good as the returns for Bill Clinton or Barack Obama.

Trump has said in the past that he should get credit for the stock market's gains following his election but before his inauguration. The market got a “Trump bump” then on anticipation of lower tax rates, less regulation on companies and faster economic growth. Much of that did come to fruition, but the COVID-19 pandemic and the government's response to it upended everything in 2020.

Gains for stocks have also been accelerating since Biden's election, before his inauguration, on enthusiasm about COVID-19 vaccines and hopes that he and Congress can deliver more stimulus for the economy. The bump for stocks between the most recent Election Day and Biden's inauguration is bigger than Trump's bump before his inauguration.

“The market is up more than 13% since Election Day," Stovall said, noting that since World War II, the S&P 500 has risen an average of 3.5% in the first 100 days of a Democratic president's administration, versus an average gain of 0.5% when a Republican was in the White House.

Janet Yellen, Biden’s nominee to be Treasury secretary, told the Senate Finance Committee during her confirmation hearing on Tuesday that the incoming administration would focus on winning quick passage of its $1.9 trillion plan.

“More must be done,” Yellen said. “Without further action, we risk a longer, more painful recession now — and long-term scarring of the economy later.”

Analysts have been expressing concerns about pricey stock values heading into the latest round of corporate earnings, but they look more reasonable amid the backdrop of historically low interest rates, said Solita Marcelli, chief investment officer, Americas, at UBS Global Wealth Management. The low rates, along with new stimulus and the continued rollout of vaccines, will likely help bolster markets and the recovery.

“We think that global growth is going to continue to pick up,” she said.

Companies will need to meet the market's expectations — including for a huge rebound in profit growth through 2021 — to validate the big runs for their stock prices during 2020, even as their profits plummeted. Stocks of several companies slipped on Wednesday, even though they reported stronger profits than expected. Procter & Gamble fell 1%, for example.

The yield on the 10-year Treasury rose to 1.09% from 1.07% late Tuesday.


----------



## bigdog

*Stocks drift to mixed close; S&P 500 ekes out another record*

U.S. stock indexes capped a day of choppy trading with a mixed finish Thursday, though solid gains by technology companies helped lift the S&P 500 and Nasdaq composite to more record highs.

The S&P 500 edged up less than 0.1%. Traders bid up shares in Big Tech stocks, including Apple, Amazon and Facebook. Those gains helped outweigh losses in energy stocks, banks and elsewhere. Stocks in smaller companies, which have led the way higher this year, gave up some of their recent gains.

Stocks have been mostly grinding higher this month amid optimism that COVID-19 vaccines will lead to an economic recovery and expectations that Washington will deliver more stimulus for the economy. More recently, better-than-expected results from companies reporting quarterly results have helped keep U.S. stock indexes hovering near record highs or notching new ones.

“Today is similar to yesterday in the sense that the broad indexes are flat or higher, but it’s actually the tech names that have taken leadership again,” said Ross Mayfield, investment strategy analyst at Baird.

The S&P 500 rose 1.22 points to 3,853.07, even as more stocks in the index closed lower. The Dow Jones Industrial Average slipped in the final minutes of trading, shedding 12.37 points, or less than 0.1%, to 31,176.01. The tech-heavy Nasdaq composite climbed 73.67 points, or 0.6%, to 13,530.91. The Russell 2000 index of smaller companies fell 19.20 points, or 0.9%, to 2,141.42.

Optimism about a strengthening economy later this year has been powerful enough to paper over worries about today’s struggles. On Thursday, a report showed that 900,000 U.S. workers filed for unemployment benefits last week, as the worsening pandemic forces businesses to shut down and lay off employees. The number was less terrible than the prior week’s 926,000, but it’s still incredibly high.

Wall Street has actually seen such miserable numbers as a reason for optimism in the past, perversely, because they add urgency on Congress to deliver more aid for the economy.

President Joe Biden has already proposed a $1.9 trillion plan, including $1,600 cash payments for most Americans and other assistance for the economy. Even though his Democratic party controls both houses of Congress, the proposal will likely face resistance given how slim the majority is.

Other reports on the economy were more encouraging on Thursday, including better-than-expected data on the homebuilding industry and manufacturing in the Philadelphia region.

More companies are also telling investors how badly their profits got hit during the last three months of 2020, when coronavirus counts and deaths were soaring. Wall Street came into this earnings reporting season with low expectations, forecasting a fourth straight quarter of profit declines. But most companies have been topping expectations.

“We are hearing more positive guidance from the (company) earnings calls,” said Quincy Krosby, chief market strategist at Prudential Financial. “That’s important because this is a market that’s looking ahead.”

The yield on the 10-year Treasury rose to 1.10% from 1.07% late Wednesday.


*ASX 200 expected to fall*

The Australian share market looks set to end the week on a disappointing note. According to the latest SPI futures, the ASX 200 is expected to open the day 24 points or 0.35% lower this morning. This is despite it being a reasonably positive night of trade on Wall Street. On closing, the Dow Jones is down 0.04%, the S&P 500 is up 0.03%, and the Nasdaq index has jumped 0.55% higher.










https://apnews.com/article/election...ong-shanghai-82cc9420b19c3b6e37fbfe468d717d1c

*Stocks drift to mixed close; S&P 500 ekes out another record*

By STAN CHOE and ALEX VEIGA

U.S. stock indexes capped a day of choppy trading with a mixed finish Thursday, though solid gains by technology companies helped lift the S&P 500 and Nasdaq composite to more record highs.

The S&P 500 edged up less than 0.1%. Traders bid up shares in Big Tech stocks, including Apple, Amazon and Facebook. Those gains helped outweigh losses in energy stocks, banks and elsewhere. Stocks in smaller companies, which have led the way higher this year, gave up some of their recent gains.

Stocks have been mostly grinding higher this month amid optimism that COVID-19 vaccines will lead to an economic recovery and expectations that Washington will deliver more stimulus for the economy. More recently, better-than-expected results from companies reporting quarterly results have helped keep U.S. stock indexes hovering near record highs or notching new ones.

“Today is similar to yesterday in the sense that the broad indexes are flat or higher, but it’s actually the tech names that have taken leadership again,” said Ross Mayfield, investment strategy analyst at Baird.

The S&P 500 rose 1.22 points to 3,853.07, even as more stocks in the index closed lower. The Dow Jones Industrial Average slipped in the final minutes of trading, shedding 12.37 points, or less than 0.1%, to 31,176.01. The tech-heavy Nasdaq composite climbed 73.67 points, or 0.6%, to 13,530.91. The Russell 2000 index of smaller companies fell 19.20 points, or 0.9%, to 2,141.42.

Optimism about a strengthening economy later this year has been powerful enough to paper over worries about today’s struggles. On Thursday, a report showed that 900,000 U.S. workers filed for unemployment benefits last week, as the worsening pandemic forces businesses to shut down and lay off employees. The number was less terrible than the prior week’s 926,000, but it’s still incredibly high.

Wall Street has actually seen such miserable numbers as a reason for optimism in the past, perversely, because they add urgency on Congress to deliver more aid for the economy.

President Joe Biden has already proposed a $1.9 trillion plan, including $1,600 cash payments for most Americans and other assistance for the economy. Even though his Democratic party controls both houses of Congress, the proposal will likely face resistance given how slim the majority is.

Other reports on the economy were more encouraging on Thursday, including better-than-expected data on the homebuilding industry and manufacturing in the Philadelphia region.

More companies are also telling investors how badly their profits got hit during the last three months of 2020, when coronavirus counts and deaths were soaring. Wall Street came into this earnings reporting season with low expectations, forecasting a fourth straight quarter of profit declines. But most companies have been topping expectations.

“We are hearing more positive guidance from the (company) earnings calls,” said Quincy Krosby, chief market strategist at Prudential Financial. “That’s important because this is a market that’s looking ahead.”

Travelers rose 2.6% after the insurer reported a much stronger profit for the latest quarter than analysts expected.

Homebuilders rose following the encouraging report on housing starts, led by Beazer Homes USA’s 5.1% gain. Paccar climbed 10.5% for the biggest gain in the S&P 500 after saying it will partner with autonomous-vehicle company Aurora to develop self-driving Peterbilt and Kenworth trucks.

On the losing end was United Airlines, which lost 5.7% after reporting a worse loss for the end of 2020 than analysts expected. The worsening pandemic is keeping fliers out of the skies, and the company’s forecast for revenue at the start of 2021 fell short of analysts’ expectations.

The yield on the 10-year Treasury rose to 1.10% from 1.07% late Wednesday.

Besides optimism about vaccines and the prospect for more stimulus from Washington, huge actions by central banks around the world are also helping to prop up stock markets. The Federal Reserve has its first policy meeting of the year next week, and it has said it doesn’t expect to pull interest rates off their record lows anytime soon. Low rates can help push up prices for stocks and other investments.

The European Central Bank on Thursday said it would hold interest rates steady and leave its bond-purchase stimulus program unchanged.


----------



## bigdog

*Mixed Finish on Wall Street as Worldwide Rally Takes a Pause*
Stocks struggled to a mixed finish on Wall Street, trimming the weekly gain for the S&P 500 even as the Nasdaq eked out another record high.

Wall Street tapped the brakes on its recent record-setting rally Friday with a mixed finish for the major stock indexes, though the S&P 500 still ended the week with its third weekly gain in four.

The benchmark index fell 0.3%, snapping a three-day winning streak, but notched a 1.9% gain for the week. The Nasdaq eked out another record high. So did the Russell 2000 index of smaller companies, which traders have been favoring amid expectations of stronger economic growth later this year.

The uneven finish for U.S. stock indexes followed a slide in global markets that began in Asia amid worries about resurgent coronavirus cases in China and weak economic data from Europe. In the United States, disappointing earnings reports from IBM and some other companies gave cover for investors to sell and book profits after big recent gains.

“The big picture is, it’s still a pretty friendly environment for stocks,” said David Lefkowitz, head of Americas equities at UBS Global Wealth Management. ”The pandemic will wind down, you’ll see a surge in corporate profits this year and the Fed made very clear they’re not going to take the punch bowl away anytime soon."

The S&P 500 slipped 11.60 points to 3,841.47. The index was coming off two straight all-time highs. The Dow Jones Industrial Average dropped 179.03 points, or 0.6%, to 30,996.98. The Nasdaq inched up 12.15 points, or 0.1%, to 13,543.06. The Russell 2000 added 27.34 points, or 1.3%, to 2,168.76.

Investors weighed another batch of company earnings reports Friday. The big theme in the early part of this earnings season is that most companies are handily beating Wall Street's profits expectations for the last three months of 2020, with banks and some other industries leading the way. About 13% of the companies in the S&P 500 have reported results so far.

“Earnings have been spectacular,” said David Lyon, global investment specialist at J.P. Morgan Private Bank.

Seagate Technology fell 4.7% despite joining that cavalcade of companies reporting better earnings than analysts expected. It also gave a forecast for revenue and profit in the current quarter that matched or topped Wall Street’s. Analysts said a lot of that optimism may have already been built into the stock’s price.

IBM dropped 9.9% for the market's sharpest loss after reporting weaker revenue for the last three months of 2020 than analysts had forecast. The tech giant’s revenue has been mostly shrinking for years. IBM nevertheless also reported a higher-than-expected profit.

Markets have been mostly rallying recently on hopes that COVID-19 vaccines will lead to a powerful economic recovery later this year as daily life gets closer to normal. Hopes are also high that Washington will deliver another dose of stimulus for the economy now that the White House and both houses of Congress are under single control of the Democrats.

President Joe Biden has proposed a $1.9 trillion plan to send $1,400 to most Americans and deliver other stimulus for the economy. But his party holds only the slimmest possible majority in the Senate, raising doubts about how much can be approved. Several Republicans have already voiced opposition to parts of the plan.











https://www.usnews.com/news/busines...tocks-sink-after-china-coronavirus-resurgence

*Mixed Finish on Wall Street as Worldwide Rally Takes a Pause*
Stocks struggled to a mixed finish on Wall Street, trimming the weekly gain for the S&P 500 even as the Nasdaq eked out another record high.
By Associated Press, Wire Service Content Jan. 22, 2021, at 4:51 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street tapped the brakes on its recent record-setting rally Friday with a mixed finish for the major stock indexes, though the S&P 500 still ended the week with its third weekly gain in four.

The benchmark index fell 0.3%, snapping a three-day winning streak, but notched a 1.9% gain for the week. The Nasdaq eked out another record high. So did the Russell 2000 index of smaller companies, which traders have been favoring amid expectations of stronger economic growth later this year.

The uneven finish for U.S. stock indexes followed a slide in global markets that began in Asia amid worries about resurgent coronavirus cases in China and weak economic data from Europe. In the United States, disappointing earnings reports from IBM and some other companies gave cover for investors to sell and book profits after big recent gains.

“The big picture is, it’s still a pretty friendly environment for stocks,” said David Lefkowitz, head of Americas equities at UBS Global Wealth Management. ”The pandemic will wind down, you’ll see a surge in corporate profits this year and the Fed made very clear they’re not going to take the punch bowl away anytime soon."

The S&P 500 slipped 11.60 points to 3,841.47. The index was coming off two straight all-time highs. The Dow Jones Industrial Average dropped 179.03 points, or 0.6%, to 30,996.98. The Nasdaq inched up 12.15 points, or 0.1%, to 13,543.06. The Russell 2000 added 27.34 points, or 1.3%, to 2,168.76.

Investors weighed another batch of company earnings reports Friday. The big theme in the early part of this earnings season is that most companies are handily beating Wall Street's profits expectations for the last three months of 2020, with banks and some other industries leading the way. About 13% of the companies in the S&P 500 have reported results so far.

“Earnings have been spectacular,” said David Lyon, global investment specialist at J.P. Morgan Private Bank.

Seagate Technology fell 4.7% despite joining that cavalcade of companies reporting better earnings than analysts expected. It also gave a forecast for revenue and profit in the current quarter that matched or topped Wall Street’s. Analysts said a lot of that optimism may have already been built into the stock’s price.

IBM dropped 9.9% for the market's sharpest loss after reporting weaker revenue for the last three months of 2020 than analysts had forecast. The tech giant’s revenue has been mostly shrinking for years. IBM nevertheless also reported a higher-than-expected profit.

Markets have been mostly rallying recently on hopes that COVID-19 vaccines will lead to a powerful economic recovery later this year as daily life gets closer to normal. Hopes are also high that Washington will deliver another dose of stimulus for the economy now that the White House and both houses of Congress are under single control of the Democrats.

President Joe Biden has proposed a $1.9 trillion plan to send $1,400 to most Americans and deliver other stimulus for the economy. But his party holds only the slimmest possible majority in the Senate, raising doubts about how much can be approved. Several Republicans have already voiced opposition to parts of the plan.

The coronavirus pandemic is also worsening and doing more damage to the economy by the day. In Europe, a survey of purchasing managers showed on Friday that activity in the manufacturing and services sectors shrank during January in the 19-country eurozone. The data suggests the eurozone’s economy may contract again this quarter.

In China, where the pandemic began in late 2019, the government has reimposed travel controls after outbreaks in Beijing and other cities. A spike in infections has authorities calling on the public to avoid travel during February’s Lunar New Year holiday, normally the year’s most important family event.

The U.S. economy has also been taking hits recently, with reports showing weakness in the job market and falling confidence among shoppers. But the data has been mixed.

One report on Friday showed the housing industry continues to be a bright spot for the economy. Sales of previously occupied homes were stronger last month than economists expected. A separate report from IHS Markit gave a preliminary reading on U.S. business activity for January that was also stronger than expected, indicating an acceleration in growth.

One major underpinning for the market seems to have little chance of going away soon: massive support from the Federal Reserve. The central bank is holding short-term interest rates at a record low and making other moves in hopes of boosting markets and the economy.

The yield on the 10-year Treasury note slipped to 1.08% from 1.09% late Thursday. It has been mostly climbing this month, up from roughly 0.90% at the start of the year, with expectations for increased government borrowing, economic growth and inflation.

A big question on Wall Street is how much more it can climb before criticism blares even louder that stock prices have grown too expensive relative to corporate profits.


----------



## bigdog

ASX 200 expected to rise​
The Australian share market looks set to bounce back on Monday. According to the latest SPI futures, the ASX 200 is poised to open the week 15 points or 0.2% higher. This is despite Wall Street ending the week in a disappointing fashion. On Friday, the Dow Jones fell 0.6%, the S&P 500 dropped 0.3%, and the Nasdaq edged 0.1% higher.


----------



## bigdog

*ASX Australia Closed for Australia Day today

A bumpy day on Wall Street ends with stock indexes mixed*

Stocks swerved to a mixed finish on Wall Street Monday, ahead of a deluge of corporate earnings reports scheduled to arrive this week.

The S&P 500 rose 13.89 points, or 0.4%, to 3,855.36 as gains for influential Big Tech stocks were big enough to steady the index and return it to a record. It recovered from a 1.2% loss earlier in the day, as investors expect Apple and other tech giants to report healthy profits for the end of 2020 in coming days.

Other areas of the market were softer, though, and the majority of stocks on Wall Street fell amid concerns about the still-raging pandemic, delayed COVID-19 vaccine rollouts in some places and Washington’s ability to deliver stimulus to blunt the resulting economic pain

The Dow Jones Industrial Average dipped 36.98, or 0.1%, to 30,960.00. The Nasdaq composite, which is packed with tech stocks, rose 92.93, or 0.7%, to 13,635.99 and another record.

The Russell 2000 index of smaller stocks fell 5.49, or 0.3%, to 2,163.27. The yield on the 10-year Treasury sank to 1.03% from 1.07% late Friday.

Besides Apple, more than 100 companies in the S&P 500 are scheduled to tell investors this week how they fared during the last three months of 2020. They include American Express, Johnson & Johnson, 3M, AT&T and Tesla.

“We’ve had a sprint higher for about four weeks now and there’s a lot coming this week,” said Brad Peterson, national portfolio advisor at Northern Trust Wealth Management. “Today’s action is probably just a pause.”

Through the earliest parts of this earnings reporting season, companies have largely been clearing the very low bar of expectations Wall Street had set for them. As a whole, analysts expect S&P 500 companies to say their fourth-quarter profit fell 5% from a year earlier. That’s a milder drop than the 9.4% they were forecasting earlier this month, according to FactSet.

Huggies and Kleenex maker Kimberly-Clark was the latest big company to report better profit than analysts expected, and its stock rose 3.3% Monday.

Markets have been mostly rallying recently on hopes that COVID-19 vaccines will lead to a powerful economic recovery later this year as daily life gets closer to normal. Hopes are also high that Washington will deliver another dose of stimulus for the economy now that the White House and both houses of Congress are under single control of the Democrats.

President Joe Biden has proposed a $1.9 trillion plan to send $1,400 to most Americans and deliver other support for the economy. But his party holds only the slimmest possible majority in the Senate, raising doubts about how much can be approved. Several Republicans have already voiced opposition to parts of the plan.










https://apnews.com/article/financia...arkets-china-ffd3c5c3bfa3512479a73fcde6cc871f

*A bumpy day on Wall Street ends with stock indexes mixed*

By KEN SWEET and DAMIAN J. TROISE

NEW YORK (AP) — Stocks swerved to a mixed finish on Wall Street Monday, ahead of a deluge of corporate earnings reports scheduled to arrive this week.

The S&P 500 rose 13.89 points, or 0.4%, to 3,855.36 as gains for influential Big Tech stocks were big enough to steady the index and return it to a record. It recovered from a 1.2% loss earlier in the day, as investors expect Apple and other tech giants to report healthy profits for the end of 2020 in coming days.

Other areas of the market were softer, though, and the majority of stocks on Wall Street fell amid concerns about the still-raging pandemic, delayed COVID-19 vaccine rollouts in some places and Washington’s ability to deliver stimulus to blunt the resulting economic pain

The Dow Jones Industrial Average dipped 36.98, or 0.1%, to 30,960.00. The Nasdaq composite, which is packed with tech stocks, rose 92.93, or 0.7%, to 13,635.99 and another record.

The Russell 2000 index of smaller stocks fell 5.49, or 0.3%, to 2,163.27. The yield on the 10-year Treasury sank to 1.03% from 1.07% late Friday.

Besides Apple, more than 100 companies in the S&P 500 are scheduled to tell investors this week how they fared during the last three months of 2020. They include American Express, Johnson & Johnson, 3M, AT&T and Tesla.

“We’ve had a sprint higher for about four weeks now and there’s a lot coming this week,” said Brad Peterson, national portfolio advisor at Northern Trust Wealth Management. “Today’s action is probably just a pause.”

Through the earliest parts of this earnings reporting season, companies have largely been clearing the very low bar of expectations Wall Street had set for them. As a whole, analysts expect S&P 500 companies to say their fourth-quarter profit fell 5% from a year earlier. That’s a milder drop than the 9.4% they were forecasting earlier this month, according to FactSet.

Huggies and Kleenex maker Kimberly-Clark was the latest big company to report better profit than analysts expected, and its stock rose 3.3% Monday.

Markets have been mostly rallying recently on hopes that COVID-19 vaccines will lead to a powerful economic recovery later this year as daily life gets closer to normal. Hopes are also high that Washington will deliver another dose of stimulus for the economy now that the White House and both houses of Congress are under single control of the Democrats.

President Joe Biden has proposed a $1.9 trillion plan to send $1,400 to most Americans and deliver other support for the economy. But his party holds only the slimmest possible majority in the Senate, raising doubts about how much can be approved. Several Republicans have already voiced opposition to parts of the plan.

The coronavirus pandemic is also worsening and doing more damage to the economy by the day. A UN agency said Monday that four times as many jobs were lost last year as in 2009, during the global financial crisis.

GameStop, the video-game retailer that’s struggling to return to profitability, went on another wild ride, trading in a giant range between $61.13 and $159.18 in heavy trading volume. The stock was halted nine times for volatility.

Some high-profile investors have been saying its stock price was too high and placed bets to profit from an eventual drop by “shorting” it, or borrowing shares of GameStop and selling them. But as the shares keep rising, these investors are forced to get out of their bets by buying the stock, pushing the price up further. It finished Monday at $76.79, up 18.1%. It was close to $17 a few weeks ago.

Financial stocks were the biggest drag on the market. Bank of America fell 1.2%, and Morgan Stanley dropped 2.4%. Travel-related companies also slipped as the virus pandemic continues crimping business. Carnival fell 4.9% after telling investors it would delay operations for several ships until November.

The Federal Reserve will begin a two-day meeting on interest-rate policy Tuesday, and the wide expectation is for it to keep the accelerator floored on its stimulus for the economy and markets. It has said it plans to keep interest rates low even if inflation rises above its 2% target.

In European stock markets, Germany’s DAX fell 1.7%, and France’s CAC 40 slipped 1.6%. The FTSE 100 in London dipped 0.8%.

Asian stocks were stronger. South Korea’s Kospi rose 2.2%, and Japan’s Nikkei 225 rose 0.7%. Hong Kong’s Hang Seng added 2.4%, and stocks in Shanghai gained 0.5%.


----------



## bigdog

*Stocks ended lower on Wall Street Tuesday after spending most of the day in the red.*

Stocks capped a day of muted trading on Wall Street with slight losses Tuesday, giving back some of their modest gains from a day earlier.

The S&P 500 slipped 0.1% after spending much of the day drifting between small gains and losses. Declines in banks, industrial companies and elsewhere pulled the market lower. Gains in some Big Tech companies, including Amazon and Facebook, helped keep the losses in check.

Small-company stocks fell more than other areas of the market, while blue chip companies like Johnson & Johnson and General Electric climbed after reporting better-than-expected results. Treasury yields rose.

The market has been mostly making small moves since last week, keeping the stock indexes near their recent record highs, as investors weigh solid corporate earnings results against renewed worries that troubles with COVID-19 vaccine rollouts and the spread of new variants of coronavirus might delay a recovery from the pandemic.

“Most major indexes are hovering near all-time highs, so for the market to be taking a little breather is not too surprising, given the ascent we’ve seen recently,” said Angelo Kourkafas, investment strategist at Edward Jones.

The S&P 500 lost 5.74 points to 3,849.62. The benchmark index is within 0.2% of the record high it set Monday. The Dow Jones Industrial Average dropped 22.96 points, or 0.1%, to 30,937.04. The tech-heavy Nasdaq composite slid 9.93 points, or 0.1%, to 13,626.06. The Russell 2000 index of smaller companies gave up 13.42 points, or 0.6%, to 2,149.86.

Investors are in the midst of quarterly earnings reporting season for U.S. companies, and this is the busiest week so far. Dozens of large companies are reporting this week, from all parts of the economy, including American Express, J&J, Apple, GE and others.

More than 100 companies in the S&P 500 are scheduled to tell investors this week how they fared during the last three months of 2020. As a whole, analysts expect S&P 500 companies to say their fourth-quarter profit fell 5% from a year earlier. That’s a milder drop than the 9.4% they were forecasting earlier this month, according to FactSet.

“The major theme, not only today but this week, is earnings season,” Kourkafas said. “The early results are encouraging.”

General Electric climbed 2.7% after the industrial conglomerate reported a surge in cash flow. GE is attempting a turnaround after shedding unprofitable divisions and focusing more on big industrial products like jet engines and power equipment. Typically, when a company is in turnaround, investors care more about cash flow than quarterly profits because it shows the company is able to pay down debts.

Johnson & Johnson rose 2.7% after the company reported fourth-quarter results that cruised past Wall Street's expectations. A big jump in prescription drug sales boosted the company's revenue, but profits dove 57% due to higher research spending and one-time charges totaling $2.4 billion. The company also said it expects to share results from the late-stage study of its experimental COVID-19 vaccine, which requires only one dose, by early next week.

*ASX 200 expected to fall*
It looks set to be a difficult day for the ASX 200 on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 30 points or 0.35% lower.  

Stocks ended lower on Wall Street Tuesday after spending most of the day in the red.  On closing the Dow Jones was down 0.07%, the S&P 500 is down 0.15%, and the Nasdaq index is down 0.07%.










https://www.usnews.com/news/busines...shares-retreat-after-bumpy-day-on-wall-street

Stocks Give up an Early Lead and End Lower on Wall Street​Stocks ended lower on Wall Street Tuesday after spending most of the day in the red.​By Associated Press, Wire Service Content Jan. 26, 2021, at 4:56 p.m.

By KEN SWEET, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks capped a day of muted trading on Wall Street with slight losses Tuesday, giving back some of their modest gains from a day earlier.

The S&P 500 slipped 0.1% after spending much of the day drifting between small gains and losses. Declines in banks, industrial companies and elsewhere pulled the market lower. Gains in some Big Tech companies, including Amazon and Facebook, helped keep the losses in check.

Small-company stocks fell more than other areas of the market, while blue chip companies like Johnson & Johnson and General Electric climbed after reporting better-than-expected results. Treasury yields rose.

The market has been mostly making small moves since last week, keeping the stock indexes near their recent record highs, as investors weigh solid corporate earnings results against renewed worries that troubles with COVID-19 vaccine rollouts and the spread of new variants of coronavirus might delay a recovery from the pandemic.

“Most major indexes are hovering near all-time highs, so for the market to be taking a little breather is not too surprising, given the ascent we’ve seen recently,” said Angelo Kourkafas, investment strategist at Edward Jones.

The S&P 500 lost 5.74 points to 3,849.62. The benchmark index is within 0.2% of the record high it set Monday. The Dow Jones Industrial Average dropped 22.96 points, or 0.1%, to 30,937.04. The tech-heavy Nasdaq composite slid 9.93 points, or 0.1%, to 13,626.06. The Russell 2000 index of smaller companies gave up 13.42 points, or 0.6%, to 2,149.86.

Investors are in the midst of quarterly earnings reporting season for U.S. companies, and this is the busiest week so far. Dozens of large companies are reporting this week, from all parts of the economy, including American Express, J&J, Apple, GE and others.

More than 100 companies in the S&P 500 are scheduled to tell investors this week how they fared during the last three months of 2020. As a whole, analysts expect S&P 500 companies to say their fourth-quarter profit fell 5% from a year earlier. That’s a milder drop than the 9.4% they were forecasting earlier this month, according to FactSet.

“The major theme, not only today but this week, is earnings season,” Kourkafas said. “The early results are encouraging.”

General Electric climbed 2.7% after the industrial conglomerate reported a surge in cash flow. GE is attempting a turnaround after shedding unprofitable divisions and focusing more on big industrial products like jet engines and power equipment. Typically, when a company is in turnaround, investors care more about cash flow than quarterly profits because it shows the company is able to pay down debts.

Johnson & Johnson rose 2.7% after the company reported fourth-quarter results that cruised past Wall Street's expectations. A big jump in prescription drug sales boosted the company's revenue, but profits dove 57% due to higher research spending and one-time charges totaling $2.4 billion. The company also said it expects to share results from the late-stage study of its experimental COVID-19 vaccine, which requires only one dose, by early next week.

American Express fell 4.1% despite reporting stronger-than-expected earnings. The company's card holders continue to postpone travel, entertainment and dining out due to the pandemic, which has cut into its bottom line.

Shares in GEO Group and CoreCivic, which operate prisons, slumped following news that the Biden administration will not be renewing federal government contracts with private prison operators. GEO Group slid 7.8%, while CoreCivic dropped 5.9%.

Meanwhile, traders are keeping a wary eye on rising coronavirus infections in various countries and a bumpy rollout of vaccinations in the U.S. The spread of variants that are thought to be more easily transmissible and might be less effectively targeted by existing vaccines is adding to alarm.

Vaccine maker Moderna said Monday that it will study whether a booster shot would be needed to protect against variants of the coronavirus, “out of an abundance of caution."

President Joe Biden has proposed a $1.9 trillion plan to send $1,400 to most Americans and deliver other support for the economy. But his party holds only the slimmest possible majority in the Senate, making approval uncertain. Several Republicans have already voiced opposition to parts of the plan. On Tuesday, Senate Majority Leader Chuck Schumer said Democrats are prepared to push ahead with the relief package, even if it means using procedural tools to pass the legislation without Republicans.

The vaccine rollout and hopes for more economic stimulus have been guiding more optimism toward an economic recovery this year, but the picture remains unclear.

“Not all of those things are playing out in a clear way,” said Sylvia Jablonski, chief investment officer of Defiance ETFs. “We don’t know yet how much of the stimulus will come out and when.”

The yield on the 10-year Treasury edged higher to 1.04% from 1.02% late Monday.


----------



## bigdog

*Stocks have their worst day since October as Big Tech sinks*

Technology companies led a broad sell-off in stocks Wednesday, knocking more than 600 points off the Dow Jones Industrial Average and handing the market its worst day in nearly three months.

The S&P 500 fell 2.6%, its biggest single-day drop since it lost 3.5% on October 28. It had set a record high just two days earlier. The Dow and tech-heavy Nasdaq composite also fell more than 2%. The sell-off left the S&P 500 and Dow in the red for the year.

A measure of fear in the U.S. stock market, the VIX index, surged more than 60%. Treasury yields edged lower, a sign of caution in the market.

Facebook, Netflix and Google’s parent company led the pullback, which started early in the day as investors sized up the latest batch of company earnings reports. The market’s skid accelerated toward the end of the day, following the release of a largely expected interest rate policy and economic update by the Federal Reserve.

The sharp selling is a shift from the market’s recent record-setting run and comes as investors focus on the outlook for the economy and corporate profits amid a still-raging coronavirus pandemic.

Expectations on Wall Street built up in recent weeks for a big economic financial boost from the Biden administration, which has proposed a $1.9 trillion stimulus plan. But Democrats’ slim majority in the Senate has raised doubts about how soon more aid might arrive and whether such a package will end up being scaled back by spending-wary lawmakers.

“The reality is setting in that the package won’t be quite as big and maybe a little bit delayed,” said Sal Bruno, chief investment officer at IndexIQ.

The S&P 500 fell 98.85 points to 3,750.77. The Dow lost 633.87 points, or 2%, to 30,303.17. The Nasdaq slid 355.47 points, or 2.6%, to 13,270.60. The Russell 2000 index of smaller companies gave up 41.16 points, or 1.9%, to 2,108.70.

The Federal Reserve announced Wednesday that it would keep its low interest rate policies in place even well after the economy has sustained a recovery from the viral pandemic. In a statement after its latest policy meeting, Fed officials said they are keeping their benchmark short-term rate pegged near zero and said they would keep buying Treasury and mortgage bonds to restrain longer-term borrowing rates and support the economy.

Meanwhile, investors continued to focus on the profit prospects for Corporate America. This is the busiest week so far of quarterly earnings reporting season for U.S. companies. More than 100 companies in the S&P 500 are scheduled to tell investors this week how they fared during the last three months of 2020.

As a whole, analysts expect S&P 500 companies to say their fourth-quarter profit fell 5% from a year earlier. That’s a milder drop than the 9.4% they were forecasting earlier this month, according to FactSet.

Shares of GameStop more than doubled as the money-losing video game retailer remains caught in a tug-of-war between Wall Street institutions and an activist community of online investors. Those investors have bet that hedge funds have put too much money betting against the stock, a concept known as selling “short.” A pair of professional investment firms that placed big bets that GameStop’s stock would crash have largely abandoned their positions.

Boeing dropped 4% after the aircraft manufacturer posted its largest annual loss in the company’s history, mostly due to the grounding of Boeing’s 737-MAX fleet.

Markets have meandered since last week as investors weighed solid corporate earnings results against renewed worries that troubles with COVID-19 vaccine rollouts and the spread of new variants of coronavirus might delay a recovery from the pandemic.

ASX 200 poised to fall​The ASX 200 looks set to tumble lower again on Thursday after a very poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 38 points or 0.6% lower this morning. 

The stock market posted its biggest drop since October Wednesday, led by declines in several Big Tech companies. On closing, the Dow Jones sunk 2.5%, the S&P 500 was down 2.57%, and the Nasdaq index tumbled 2.61%.










https://apnews.com/article/financia...ong-shanghai-cd16870f9e23357f6a39b85b0cdb3ab7

*Stocks have their worst day since October as Big Tech sinks*

By DAMIAN J. TROISE, KEN SWEET and ALEX VEIGA

Technology companies led a broad sell-off in stocks Wednesday, knocking more than 600 points off the Dow Jones Industrial Average and handing the market its worst day in nearly three months.

The S&P 500 fell 2.6%, its biggest single-day drop since it lost 3.5% on October 28. It had set a record high just two days earlier. The Dow and tech-heavy Nasdaq composite also fell more than 2%. The sell-off left the S&P 500 and Dow in the red for the year.

A measure of fear in the U.S. stock market, the VIX index, surged more than 60%. Treasury yields edged lower, a sign of caution in the market.

Facebook, Netflix and Google’s parent company led the pullback, which started early in the day as investors sized up the latest batch of company earnings reports. The market’s skid accelerated toward the end of the day, following the release of a largely expected interest rate policy and economic update by the Federal Reserve.

The sharp selling is a shift from the market’s recent record-setting run and comes as investors focus on the outlook for the economy and corporate profits amid a still-raging coronavirus pandemic.

Expectations on Wall Street built up in recent weeks for a big economic financial boost from the Biden administration, which has proposed a $1.9 trillion stimulus plan. But Democrats’ slim majority in the Senate has raised doubts about how soon more aid might arrive and whether such a package will end up being scaled back by spending-wary lawmakers.

“The reality is setting in that the package won’t be quite as big and maybe a little bit delayed,” said Sal Bruno, chief investment officer at IndexIQ.

The S&P 500 fell 98.85 points to 3,750.77. The Dow lost 633.87 points, or 2%, to 30,303.17. The Nasdaq slid 355.47 points, or 2.6%, to 13,270.60. The Russell 2000 index of smaller companies gave up 41.16 points, or 1.9%, to 2,108.70.

The Federal Reserve announced Wednesday that it would keep its low interest rate policies in place even well after the economy has sustained a recovery from the viral pandemic. In a statement after its latest policy meeting, Fed officials said they are keeping their benchmark short-term rate pegged near zero and said they would keep buying Treasury and mortgage bonds to restrain longer-term borrowing rates and support the economy.

Meanwhile, investors continued to focus on the profit prospects for Corporate America. This is the busiest week so far of quarterly earnings reporting season for U.S. companies. More than 100 companies in the S&P 500 are scheduled to tell investors this week how they fared during the last three months of 2020.

As a whole, analysts expect S&P 500 companies to say their fourth-quarter profit fell 5% from a year earlier. That’s a milder drop than the 9.4% they were forecasting earlier this month, according to FactSet.

Shares of GameStop more than doubled as the money-losing video game retailer remains caught in a tug-of-war between Wall Street institutions and an activist community of online investors. Those investors have bet that hedge funds have put too much money betting against the stock, a concept known as selling “short.” A pair of professional investment firms that placed big bets that GameStop’s stock would crash have largely abandoned their positions.

Boeing dropped 4% after the aircraft manufacturer posted its largest annual loss in the company’s history, mostly due to the grounding of Boeing’s 737-MAX fleet.

Markets have meandered since last week as investors weighed solid corporate earnings results against renewed worries that troubles with COVID-19 vaccine rollouts and the spread of new variants of coronavirus might delay a recovery from the pandemic.

“The real economy isn’t reflective of what’s happening in financial markets and there really is a disconnect there,” said Charlie Ripley, senior investment strategist for Allianz Investment Management. “Investors have to be mindful of that gap.”

The fate of President Joe Biden’s stimulus plan, which includes $1,400 checks for most Americans and other support for the economy, remains a question for investors. On Tuesday, Senate Majority Leader Chuck Schumer said Democrats are prepared to push ahead with the relief package, even if it means using procedural tools to pass the legislation without Republicans.

“That’s certainly one of the factors putting a little bit of pressure on markets,” Ripley said. “Maybe that’s just the realization that growth expectations built into market around fiscal stimulus may not come as expected.”


----------



## bigdog

Stocks Claw Back Some Lost Ground; GameStop Swings Wildly
​Major stock indexes clawed back some of the ground they lost a day earlier in their biggest loss since October.

Stocks closed broadly higher on Wall Street Thursday, helping the market recoup some of its losses a day after its biggest pullback in nearly three months.

Investors continued to closely watch the wild swings in GameStop, AMC and several other stocks which have become targets for hordes of online investors who have sent them skyrocketing in recent days, taking on big hedge funds who have bet they will fall.

Several of those stocks fell sharply after Robinhood and other trading platforms restricted trading in them, causing an outcry among customers. The chaotic trading action is drawing calls in Washington and elsewhere for regulatory action to curb the speculative frenzy.

The S&P 500 rose 36.61 points, or 1%, to 3,787.38, lifting the benchmark index out of the red for the year. It had lost 2.6% a day earlier, its biggest drop since October.

The Dow Jones industrial average gained 300.19 points, or 1%, to 30,603.36. The Nasdaq composite added 66.56 points, or 0.5%, to 13,337.16. The Russel 2000 index of smaller companies slipped 2.09 points, or 0.1%, to 2,106.61.

Mike Zigmont, director of trading and research at Harvest Volatility Management, said the cascade on Wednesday likely began when larger institutions started taking steps to reduce their exposure to risk at the same time, partly because of the sharp and questionable gains in several stocks. That prompted others in the market to follow suit, accelerating the decline. Similar sentiment may have driven shares higher Thursday.

“You listen to your models and suddenly everybody is de-risking together and everything cascades.” he said. “Then you sleep on it and things don't look so bad.”

Gamestop skidded 44.3% to close at $193.60, after swinging in a gigantic range between $112 and $483. At the beginning of the year it was trading under $18 a share. Meanwhile, AMC Entertainment fell 56.6%, after rising nearly 600% this month alone.

Investors also continued to focus on company earnings. More than 100 companies in the S&P 500 are scheduled to tell investors this week how they fared during the last three months of 2020.

Markets had been meandering near record highs since last week as investors weighed solid corporate earnings results against renewed worries that troubles with COVID-19 vaccine rollouts and the spread of new variants of coronavirus might delay a recovery from the pandemic.
ASX 200 poised to rebound​The ASX 200 looks set to rebound strongly from Thursday’s selloff. According to the latest SPI futures, the ASX 200 is poised to open the day 95 points or 1.45% higher this morning. On closing Wall Street, the Dow Jones s up .0.99%, the S&P 500 is up 0.98%, and the Nasdaq index is 0.5% higher.











https://www.usnews.com/news/busines...-drop-after-us-stocks-worst-day-since-october

Stocks Claw Back Some Lost Ground; GameStop Swings Wildly​Major stock indexes clawed back some of the ground they lost a day earlier in their biggest loss since October.​By Associated Press, Wire Service Content Jan. 28, 2021, at 4:51 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks closed broadly higher on Wall Street Thursday, helping the market recoup some of its losses a day after its biggest pullback in nearly three months.

Investors continued to closely watch the wild swings in GameStop, AMC and several other stocks which have become targets for hordes of online investors who have sent them skyrocketing in recent days, taking on big hedge funds who have bet they will fall.

Several of those stocks fell sharply after Robinhood and other trading platforms restricted trading in them, causing an outcry among customers. The chaotic trading action is drawing calls in Washington and elsewhere for regulatory action to curb the speculative frenzy.

The S&P 500 rose 36.61 points, or 1%, to 3,787.38, lifting the benchmark index out of the red for the year. It had lost 2.6% a day earlier, its biggest drop since October.

The Dow Jones industrial average gained 300.19 points, or 1%, to 30,603.36. The Nasdaq composite added 66.56 points, or 0.5%, to 13,337.16. The Russel 2000 index of smaller companies slipped 2.09 points, or 0.1%, to 2,106.61.

Mike Zigmont, director of trading and research at Harvest Volatility Management, said the cascade on Wednesday likely began when larger institutions started taking steps to reduce their exposure to risk at the same time, partly because of the sharp and questionable gains in several stocks. That prompted others in the market to follow suit, accelerating the decline. Similar sentiment may have driven shares higher Thursday.

“You listen to your models and suddenly everybody is de-risking together and everything cascades.” he said. “Then you sleep on it and things don't look so bad.”

Gamestop skidded 44.3% to close at $193.60, after swinging in a gigantic range between $112 and $483. At the beginning of the year it was trading under $18 a share. Meanwhile, AMC Entertainment fell 56.6%, after rising nearly 600% this month alone.

Investors also continued to focus on company earnings. More than 100 companies in the S&P 500 are scheduled to tell investors this week how they fared during the last three months of 2020.

Apple fell 3.5% after the iPhone maker posted a record quarterly profit, helped by big sales of iPhones and Apple Watches during the holiday season. Investors focused on the fact that Apple was conservative in its full-year outlook for 2021, which the company cited economic uncertainty and the pandemic as part of the reason for the forecast.

Meanwhile. hopes are high for President Joe Biden’s proposed a $1.9 trillion COVID-relief package, but worries are growing the plan might also be scaled back. Adding to caution, the Federal Reserve said Wednesday it would keep its low interest rate policies in place, but it also released a sobering assessment of the gradual recovery ahead.

“Investors will likely focus on the pace of vaccinations around the globe while also keeping an eye on the progress of President Biden’s fiscal rescue plan that may be facing some roadblocks in the U.S. Senate,” Prakash Sakpal and Nicholas Mapa, senior economists at ING, said in a report.

Markets had been meandering near record highs since last week as investors weighed solid corporate earnings results against renewed worries that troubles with COVID-19 vaccine rollouts and the spread of new variants of coronavirus might delay a recovery from the pandemic.

​


----------



## bigdog

GameStop Soars Again; Wall Street Bends Under the Pressure​Stocks sank again as a speculative frenzy over GameStop and a handful of other stocks ramps up worries over how much damage an online revolt against Wall Street bigwigs can do to the broader market.

Another bout of selling gripped the U.S. stock market Friday, as anxiety mounts over whether the frenzy behind a swift, meteoric rise in GameStop and a handful of other stocks will damage Wall Street overall.

The S&P 500 dropped 1.9%, giving the benchmark index its biggest weekly loss since October. The Dow Jones Industrial Average and Nasdaq each fell 2%.

GameStop shot up nearly 70%, clawing back much of its steep loss from the day before, after Robinhood said it will allow customers to start buying some of the stock again. GameStop has been on a stupefying 1,600% run over the last three weeks and has become the battleground where swarms of smaller investors see themselves making an epic stand against the 1%.

The assault is directed squarely at hedge funds and other Wall Street titans that had bet the struggling video game retailer’s stock would fall. Those firms are taking sharp losses, and other investors say that's pushing them to sell other stocks they own to raise cash. That, in turn, helps pull down parts of the market completely unrelated to the revolt underway by the cadre of smaller and novice investors.

The maniacal moves for GameStop and a few other formerly beaten-down stocks has drowned out many of the other issues weighing on markets, including the virus, vaccine rollouts and potential aid for the economy.

“Our consideration is whether this is something that is a long-term influence or contained within a handful of companies,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management.

Meanwhile, calls for regulators to step in are growing louder on Capitol Hill, and the Securities and Exchange Commission says it’s carefully monitoring the situation.

“You’ve seen a lot of volatility this week, so when you have some unknowns like what you’re seeing in the retail trading world, people are a little concerned at record highs here and taking some money off the table,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors.

The S&P 500 fell 73.14 points to 3,714.24. It ended the week with a 3.2% loss, its worst week in three months. It ended January with a 1.1% loss, its first monthly decline since October. The S&P 500 is still up 13.6% since the end of October.

Some of the heaviest weights on the index were Apple, Microsoft and other Big Tech stocks that have been big winners for professional and other investors over the last year.

The Dow lost 620.74 points to 29,982.62, while the tech-heavy Nasdaq composite slid 266.46 points to 13,070.69. The Russell 2000 index of smaller companies gave up 32.97 points, or 1.6%, to 2,073.64.

Other forces also weighed on the market. Johnson & Johnson fell 3.6% after it said its vaccine appears to protect against COVID-19, though not as powerfully as rivals. Analysts said the results, which would require just one shot instead of the two required by other vaccine makers, were below expectations.

Elsewhere, investors watched virus infection spikes in Europe and Asia, renewed travel curbs and negotiations in Washington over President Joe Biden’s proposed $1.9 trillion economic aid package. Hopes for such stimulus for the economy have carried the S&P 500 and other major indexes back to record highs recently, along with enthusiasm about COVID-19 vaccines and the Federal Reserve's pledge to keep the accelerator floored on its help for the economy. Low interest rates from the Fed can act like steroids for stocks and other investments.

“We are still moving towards a recovery from the pandemic, just a heck of a lot bumpier than anyone had expected,” said Stephen Innes of Axi in a report.

Wall Street’s focus remains squarely on GameStop and other moonshot stocks. AMC Entertainment jumped 53.7%, and headphone company Koss vaulted 52.5%. After their success with GameStop, traders have been looking for other downtrodden stocks in the market where hedge funds and other Wall Street firms are betting on price drops.

By rallying together into these stocks, they are triggering something called a “short squeeze.” In that, a stock's price can explode higher as investors who had bet on price declines scramble to get out of their trades.

The smaller investors, meanwhile, have been crowing about their empowerment and saying the financial elite are simply getting their comeuppance after years of pulling away from the rest of America.











https://www.usnews.com/news/busines...tocks-fall-after-wall-st-rebounds-from-losses

GameStop Soars Again; Wall Street Bends Under the Pressure​Stocks sank again as a speculative frenzy over GameStop and a handful of other stocks ramps up worries over how much damage an online revolt against Wall Street bigwigs can do to the broader market.

By Associated Press, Wire Service Content Jan. 29, 2021, at 5:33 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Another bout of selling gripped the U.S. stock market Friday, as anxiety mounts over whether the frenzy behind a swift, meteoric rise in GameStop and a handful of other stocks will damage Wall Street overall.

The S&P 500 dropped 1.9%, giving the benchmark index its biggest weekly loss since October. The Dow Jones Industrial Average and Nasdaq each fell 2%.

GameStop shot up nearly 70%, clawing back much of its steep loss from the day before, after Robinhood said it will allow customers to start buying some of the stock again. GameStop has been on a stupefying 1,600% run over the last three weeks and has become the battleground where swarms of smaller investors see themselves making an epic stand against the 1%.

The assault is directed squarely at hedge funds and other Wall Street titans that had bet the struggling video game retailer’s stock would fall. Those firms are taking sharp losses, and other investors say that's pushing them to sell other stocks they own to raise cash. That, in turn, helps pull down parts of the market completely unrelated to the revolt underway by the cadre of smaller and novice investors.

The maniacal moves for GameStop and a few other formerly beaten-down stocks has drowned out many of the other issues weighing on markets, including the virus, vaccine rollouts and potential aid for the economy.

“Our consideration is whether this is something that is a long-term influence or contained within a handful of companies,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management.

Meanwhile, calls for regulators to step in are growing louder on Capitol Hill, and the Securities and Exchange Commission says it’s carefully monitoring the situation.

“You’ve seen a lot of volatility this week, so when you have some unknowns like what you’re seeing in the retail trading world, people are a little concerned at record highs here and taking some money off the table,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors.

The S&P 500 fell 73.14 points to 3,714.24. It ended the week with a 3.2% loss, its worst week in three months. It ended January with a 1.1% loss, its first monthly decline since October. The S&P 500 is still up 13.6% since the end of October.

Some of the heaviest weights on the index were Apple, Microsoft and other Big Tech stocks that have been big winners for professional and other investors over the last year.

The Dow lost 620.74 points to 29,982.62, while the tech-heavy Nasdaq composite slid 266.46 points to 13,070.69. The Russell 2000 index of smaller companies gave up 32.97 points, or 1.6%, to 2,073.64.

Other forces also weighed on the market. Johnson & Johnson fell 3.6% after it said its vaccine appears to protect against COVID-19, though not as powerfully as rivals. Analysts said the results, which would require just one shot instead of the two required by other vaccine makers, were below expectations.

Elsewhere, investors watched virus infection spikes in Europe and Asia, renewed travel curbs and negotiations in Washington over President Joe Biden’s proposed $1.9 trillion economic aid package. Hopes for such stimulus for the economy have carried the S&P 500 and other major indexes back to record highs recently, along with enthusiasm about COVID-19 vaccines and the Federal Reserve's pledge to keep the accelerator floored on its help for the economy. Low interest rates from the Fed can act like steroids for stocks and other investments.

“We are still moving towards a recovery from the pandemic, just a heck of a lot bumpier than anyone had expected,” said Stephen Innes of Axi in a report.

Wall Street’s focus remains squarely on GameStop and other moonshot stocks. AMC Entertainment jumped 53.7%, and headphone company Koss vaulted 52.5%. After their success with GameStop, traders have been looking for other downtrodden stocks in the market where hedge funds and other Wall Street firms are betting on price drops.

By rallying together into these stocks, they are triggering something called a “short squeeze.” In that, a stock's price can explode higher as investors who had bet on price declines scramble to get out of their trades.

The smaller investors, meanwhile, have been crowing about their empowerment and saying the financial elite are simply getting their comeuppance after years of pulling away from the rest of America.

“We've had their boot on our necks for so (expletive) long that the sudden rush of blood to our brains when we have just a (asterisk)chance(asterisk) of getting free has made me feel ... well, it's made me feel,” one user wrote on a Reddit discussion about GameStop stock.

“I've been isolated throughout this entire pandemic and live in a state far from home or any sense of community, ”another user replied. “I'd kind of just... given up. These last few weeks I've started caring again; feeling impassioned again; wanting more again.”

Most of Wall Street and other market watchers say they expect the smaller-pocketed investors who are pushing up GameStop to eventually get burned. The struggling retailer is expected to still lose money in its next fiscal year, and many analysts say its stock should be closer to $15 than $330.

In response, many users on Reddit have said they can keep up the pressure longer than hedge funds can stay solvent, although they often use more colorful language to say that.

This week, Robinhood and other online trading platforms restricted trading in GameStop and other stocks that have soared recently, prompting outrage from individual investors on Twitter and other social media sites. After easing up on some of the restrictions early Friday, Robinhood tightened them again throughout the day, limiting the number of GameStop shares that customers could buy. By 3:03 p.m. Eastern time, they could not purchase any more if they already had at least one share.

The SEC said Friday that it is evaluating “the extreme price volatility of certain stocks’ trading prices,” warning that such volatility can expose investors to “rapid and severe losses and undermine market confidence.”

Jacob Frenkel, a former SEC enforcement attorney and federal prosecutor, suggested it may have made sense for the market watchdog agency to suspend trading for up to 10 days in GameStop stock, under its legal authority.

Merely monitoring the situation, without SEC action, “is like putting safety experts in a permanent front-row seat in front of a runaway roller coaster,” Frenkel said.

An enforcement investigation by the agency would need to determine whether there were violations of the securities laws, said Frenkel, who heads the government investigations practice at law firm Dickinson Wright.

Both the Senate Banking Committee and the House Financial Services Committee plan to hold hearings on the GameStop controversy.

“The capital markets need to be less of a casino and more of a place where people ... can invest in companies that are leading the new economy,” said Rep. Brad Sherman, D-Calif., who heads the Financial Services subcommittee on investor protection.


----------



## Dona Ferentes

Interesting narrative for the last 3 days.  ⚖️📈📉📈


----------



## bigdog

*ASX 200 expected to fall*

It looks set be a difficult start to the week for the ASX 200 after another poor night of trade on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to fall 34 points or 0.5% at the open. 

On Wall Street the Dow Jones fell 2%, the S&P 500 dropped 1.9%, and the Nasdaq tumbled 2% lower. This meant all three major indices dropped over 3% for the week, which was their worst weekly performance since October.


----------



## bigdog

*Wall Street recovers some of last week’s drop, silver climbs*

Stocks notched broad gains on Wall Street Monday, clawing back some of their losses following the market’s worst weekly loss since October.

The S&P 500 rose 1.6%. The benchmark index was coming off a 3.3% slide last week, when volatility spiked as online traders hoping to inflict damage on hedge funds fueled a frenzy in GameStop and a few other stocks.

Investors large and small continued to focus those stocks Monday, and GameStop slumped 30.8% to $225 a share, the latest rocky ride for the stock, which ended last year at about $18.

Meanwhile, the price of silver jumped at one point to its highest level in eight years. Analysts said the precious metal became another target for online investors seeking to go up against big Wall Street players.

A measure of fear in the market, the VIX, fell Monday, suggesting some of last week’s market jitters were easing, said Pauline Bell, analyst at CFRA Research.

“Today the market is sensing that the heightened volatility that we saw over the last week is reverting to a more settled type of volume,” Bell said. “The market is sensing the return to normalcy.”

The S&P 500 gained 59.62 points to 3,773.86. The Dow Jones Industrial Average rose 229.29 points, or 0.8%, to 30,211.91. The Nasdaq composite climbed 332.70 points, or 2.6%, to 13,403.39.

The gains were broad, with technology companies leading the way higher. Communication stocks and a variety of companies that rely on direct consumer spending such as Starbucks and AutoZone also helped lift the market.

Smaller companies also notched solid gains. The Russell 2000 index of small-cap stocks picked up 52.52 points, or 2.5%, to 2,126.16.

Monday’s steep drop in GameStop echoed what has become a typical move for a company that has regularly seen double-digit swings most of the last two weeks. Trading of the retailer was still limited on trading platforms like Robinhood.

Silver for March delivery rose $2.50, or 9%, to settle at $29.42 an ounce. Some analysts called the price jump the latest assault by the smaller investors who sent GameStop soaring recently. But many of those same traders instead called it a trap set by hedge funds to divert their attention away from GameStop, as the saga captivating Wall Street gets even more dramatic.

While volatility eased Monday, analysts said the market is likely to remain choppy as small investors continue to play a bigger role in stock trading than they have in the past.

“Definitely having easy access to information, encouragement on social media and a very easy trading experience has gotten more people involved,” said Sunitha Thomas, national portfolio advisor at Northern Trust Wealth Management. “All of that combined is going to lead to more volatility as investors with a shorter outlook are a bigger part of the daily trading volume.”

Investors are watching negotiations in Washington over President Joe Biden’s proposed $1.9 trillion economic aid package. Hopes for aid, along with the Federal Reserve’s pledge to keep low-cost credit plentiful, have carried the S&P 500 and other major indexes to record highs.

“Ultimately, what’s going to drive this recovery is consumer spending coming back,” Thomas said.

Investors bid up stocks heading into 2021 in expectation the rollout of coronavirus vaccines would allow global business and travel to return to normal. That optimism has been dented recently by new infection spikes and disruptions in vaccine deliveries.

ASX 200 poised to rise.​
The ASX 200 looks set to continue its recovery on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 34 points or 0.5% higher this morning. 

This follows a positive start to the week on Wall Street, on closing sees the Dow Jones up 0.76%, the S&P 500 1.61% higher, and the Nasdaq up a sizeable 2.55%.










https://apnews.com/article/europe-f...yo-hong-kong-22488294dc922eaf3ff4e4c61524014b

*Wall Street recovers some of last week’s drop, silver climbs*

DAMIAN J. TROISE and ALEX VEIGA

Stocks notched broad gains on Wall Street Monday, clawing back some of their losses following the market’s worst weekly loss since October.

The S&P 500 rose 1.6%. The benchmark index was coming off a 3.3% slide last week, when volatility spiked as online traders hoping to inflict damage on hedge funds fueled a frenzy in GameStop and a few other stocks.

Investors large and small continued to focus those stocks Monday, and GameStop slumped 30.8% to $225 a share, the latest rocky ride for the stock, which ended last year at about $18.

Meanwhile, the price of silver jumped at one point to its highest level in eight years. Analysts said the precious metal became another target for online investors seeking to go up against big Wall Street players.

A measure of fear in the market, the VIX, fell Monday, suggesting some of last week’s market jitters were easing, said Pauline Bell, analyst at CFRA Research.

“Today the market is sensing that the heightened volatility that we saw over the last week is reverting to a more settled type of volume,” Bell said. “The market is sensing the return to normalcy.”

The S&P 500 gained 59.62 points to 3,773.86. The Dow Jones Industrial Average rose 229.29 points, or 0.8%, to 30,211.91. The Nasdaq composite climbed 332.70 points, or 2.6%, to 13,403.39.

The gains were broad, with technology companies leading the way higher. Communication stocks and a variety of companies that rely on direct consumer spending such as Starbucks and AutoZone also helped lift the market.

Smaller companies also notched solid gains. The Russell 2000 index of small-cap stocks picked up 52.52 points, or 2.5%, to 2,126.16.

Monday’s steep drop in GameStop echoed what has become a typical move for a company that has regularly seen double-digit swings most of the last two weeks. Trading of the retailer was still limited on trading platforms like Robinhood.

Silver for March delivery rose $2.50, or 9%, to settle at $29.42 an ounce. Some analysts called the price jump the latest assault by the smaller investors who sent GameStop soaring recently. But many of those same traders instead called it a trap set by hedge funds to divert their attention away from GameStop, as the saga captivating Wall Street gets even more dramatic.

While volatility eased Monday, analysts said the market is likely to remain choppy as small investors continue to play a bigger role in stock trading than they have in the past.

“Definitely having easy access to information, encouragement on social media and a very easy trading experience has gotten more people involved,” said Sunitha Thomas, national portfolio advisor at Northern Trust Wealth Management. “All of that combined is going to lead to more volatility as investors with a shorter outlook are a bigger part of the daily trading volume.”

Investors are watching negotiations in Washington over President Joe Biden’s proposed $1.9 trillion economic aid package. Hopes for aid, along with the Federal Reserve’s pledge to keep low-cost credit plentiful, have carried the S&P 500 and other major indexes to record highs.

“Ultimately, what’s going to drive this recovery is consumer spending coming back,” Thomas said.

Investors bid up stocks heading into 2021 in expectation the rollout of coronavirus vaccines would allow global business and travel to return to normal. That optimism has been dented recently by new infection spikes and disruptions in vaccine deliveries.

Markets were rattled last week by AstraZeneca’s announcement it would supply the European Union with fewer than half the promised doses, which prompted the EU to impose export controls. On Sunday, AstraZeneca promised to increase European supplies and start delivery earlier. This helped boost shares of European companies on Monday. Germany’s DAX rose 1.4%, France’s CAC-40 gained 1.2% and the U.K.’s FTSE-100 added 0.9%.

The yield on the 10-year Treasury rose to 1.08% from 1.07% late Friday.


----------



## bigdog

*Big Tech leads stocks to broad gains; GameStop collapses*

Big Tech companies and banks helped power a broad rally on Wall Street Tuesday, though shares in GameStop and other recent high-flying stocks hyped by online traders plunged.

The S&P 500 rose 1.4%, extending gains from a day earlier, as investors sized up the latest batch of company earnings reports. Rising crude oil prices and solid earnings results helped lift energy companies, including Exxon Mobil and Marathon Petroleum. Treasury yields rose and the VIX, a measure of fear in the market, fell sharply, a sign volatility was easing.

The wave of buying coincided with a skid in GameStop and AMC Entertainment, stocks that have been caught up in a speculative frenzy by traders in online forums and on social media who seek to inflict damage on Wall Street hedge funds that have bet these stocks would fall. The price of silver, which spiked 9% Monday, fueling speculation the precious metal was also being hyped up by online traders, sank by more than 10%.

“Certainly, there’s been some profit-taking in these names,” said Ross Mayfield, investment strategist at Baird. “You saw with silver, there was an attempt to try a similar cornering of the market, and that didn’t even last two days.”

The S&P 500 index rose 52.45 points to 3,826.31. The Dow Jones Industrial Average gained 475.57 points, or 1.6%, to 30,687.48. The tech-heavy Nasdaq composite climbed 209.38 points, or 1.6%, to 13,612.78. The Russell 200 index of smaller companies also rose, adding 25.28 points, or 1.2%, to 2,151.44. The major indexes remain near their all-time highs set last month.

Treasury yields rose in another sign of investor confidence. The yield on the benchmark 10-year Treasury note rose to 1.10% from 1.06% late Monday.

GameStop plunged 60% to $90 a share, and AMC Entertainment lost 41.2% to $7.82 a share. Both companies have been in the spotlight for more than two weeks as an online community of investors pushed the stocks to astronomical levels.

Trading in those and several other stocks have been restricted by the popular online trading platform Robinhood since last last week following the bouts of extreme volatility. Robinhood needed to secure funding in order to meet deposit thresholds required by organizations that handle the trading orders placed by investors on its platform.

Robinhood eased some of the trading limits on GameStop and select other stocks Tuesday. For example, it now allows users to buy up to 100 shares and options contracts in GameStop and 1,250 in AMC. On Monday, the brokerage was limiting users to 5 shares in GameStop and 75 in AMC.

An online army of traders using the online site Reddit banded together for the past two weeks to snap up shares of GameStop, AMC and other struggling chains, stocks that have been heavily shorted (bets that the stock will fall) by a number of hedge funds. In the process, they’ve done heavy damage to those hedge funds in a stunning reversal of financial power on Wall Street.

But it’s not clear how much longer the Reddit traders can hold the line. Intense media and Wall Street interest pushed many traders into these stocks late last week, with GameStop going as high as $483 last Thursday. They began trading this year at just over $17 a share. The huge run-up in the stock price appears to have little to do with the future prospects of the mall-based retailer, which has been losing money consistently.

While a lot of people seem to be holding a line on some of these positions, the broader market is not showing many signs of strain because of it, said Darrell Cronk, chief investment officer of Wells Fargo Wealth and Investment Management.

“I hope the markets are moving away from some of the issues it dealt with last week and focusing on more of the true fundamentals,” Cronk said.

ASX 200 futures pointing higher​It looks set to be another positive day of trade for the ASX 200 on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 57 points or 0.85% higher this morning. 

This follows another strong night of trade on Wall Street. On closing, the Dow Jones is up 1.57%, the S&P 500 is 1.39% higher, and the Nasdaq is also trading 1.56% higher. Markets appear to be moving on from the GameStop mania.











https://apnews.com/article/gamestop-amc-stocks-crumble-dcd4156afb877193e2931dd16fc4a21b

*Big Tech leads stocks to broad gains; GameStop collapses*

By DAMIAN J. TROISE and ALEX VEIGA

Big Tech companies and banks helped power a broad rally on Wall Street Tuesday, though shares in GameStop and other recent high-flying stocks hyped by online traders plunged.

The S&P 500 rose 1.4%, extending gains from a day earlier, as investors sized up the latest batch of company earnings reports. Rising crude oil prices and solid earnings results helped lift energy companies, including Exxon Mobil and Marathon Petroleum. Treasury yields rose and the VIX, a measure of fear in the market, fell sharply, a sign volatility was easing.

The wave of buying coincided with a skid in GameStop and AMC Entertainment, stocks that have been caught up in a speculative frenzy by traders in online forums and on social media who seek to inflict damage on Wall Street hedge funds that have bet these stocks would fall. The price of silver, which spiked 9% Monday, fueling speculation the precious metal was also being hyped up by online traders, sank by more than 10%.

“Certainly, there’s been some profit-taking in these names,” said Ross Mayfield, investment strategist at Baird. “You saw with silver, there was an attempt to try a similar cornering of the market, and that didn’t even last two days.”

The S&P 500 index rose 52.45 points to 3,826.31. The Dow Jones Industrial Average gained 475.57 points, or 1.6%, to 30,687.48. The tech-heavy Nasdaq composite climbed 209.38 points, or 1.6%, to 13,612.78. The Russell 200 index of smaller companies also rose, adding 25.28 points, or 1.2%, to 2,151.44. The major indexes remain near their all-time highs set last month.

Treasury yields rose in another sign of investor confidence. The yield on the benchmark 10-year Treasury note rose to 1.10% from 1.06% late Monday.

GameStop plunged 60% to $90 a share, and AMC Entertainment lost 41.2% to $7.82 a share. Both companies have been in the spotlight for more than two weeks as an online community of investors pushed the stocks to astronomical levels.

Trading in those and several other stocks have been restricted by the popular online trading platform Robinhood since last last week following the bouts of extreme volatility. Robinhood needed to secure funding in order to meet deposit thresholds required by organizations that handle the trading orders placed by investors on its platform.

Robinhood eased some of the trading limits on GameStop and select other stocks Tuesday. For example, it now allows users to buy up to 100 shares and options contracts in GameStop and 1,250 in AMC. On Monday, the brokerage was limiting users to 5 shares in GameStop and 75 in AMC.

An online army of traders using the online site Reddit banded together for the past two weeks to snap up shares of GameStop, AMC and other struggling chains, stocks that have been heavily shorted (bets that the stock will fall) by a number of hedge funds. In the process, they’ve done heavy damage to those hedge funds in a stunning reversal of financial power on Wall Street.

But it’s not clear how much longer the Reddit traders can hold the line. Intense media and Wall Street interest pushed many traders into these stocks late last week, with GameStop going as high as $483 last Thursday. They began trading this year at just over $17 a share. The huge run-up in the stock price appears to have little to do with the future prospects of the mall-based retailer, which has been losing money consistently.

While a lot of people seem to be holding a line on some of these positions, the broader market is not showing many signs of strain because of it, said Darrell Cronk, chief investment officer of Wells Fargo Wealth and Investment Management.

“I hope the markets are moving away from some of the issues it dealt with last week and focusing on more of the true fundamentals,” Cronk said.

Uber rose 7% after the company said it would buy liquor delivery service Drizly for $1.1 billion in cash and stock. Solid earnings reports helped lift shares for several companies. Lab equipment maker Waters rose 8.4% for the biggest gain in the S&P 500 after easily beating analysts’ fourth-quarter profit and revenue forecasts. Exxon rose 1.6% and Marathon Petroleum rose 3.9%.

Investors continue to focus on Washington. President Biden invited 10 moderate Republicans to the White House to discuss his proposed $1.9 trillion economic aid plan. Republicans earlier countered with an offer of $600 billion, or less than one-third of Biden’s proposed amount.

Investors bid up stocks heading into 2021 in expectation the rollout of coronavirus vaccines would allow global business and travel to return to normal. That optimism has been dented by infection spikes and disruptions in vaccine deliveries.


----------



## bigdog

*Major stock indexes end with modest gains on Wall Street*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped a choppy day of trading with modest gains Wednesday, as investors focused on some strong earnings reports from Big Tech companies while remaining cautiously optimistic that Washington will deliver more economic stimulus.

The S&P 500 inched up 0.1% after swinging between a gain of 0.6% and a loss of 0.3%. The tiny gain extended the benchmark index’s winning streak to a third day. Energy, communications and financial stocks helped lift the market. Those gains were primarily kept in check by declines in companies that rely on consumer spending and technology stocks. Treasury yields and oil prices rose.

Investors continued to watch shares of companies such as GameStop and AMC Entertainment, which have been targeted by a community of online investors seeking to force their stock prices higher. Both stocks rose modestly after plunging over the last two days. Both companies have been in the spotlight for more than two weeks as investors pushed the stocks to astronomical levels.

“There’s a tug of war that’s been brewing for a week or so now, that markets are ripe for a correction and whether the events of last week are a precipitating event,” said Jamie Cox, managing partner at Harris Financial Group.

The S&P 500 rose 3.86 points to 3,830.17. The Dow Jones Industrial Average gained 36.12 points, or 0.1%, to 30,723.60. The tech-heavy Nasdaq slipped 2.23 points, or less than 0.1%, to 13,610.54. The index had briefly been above its all-time high set last week.

Smaller companies fared better than the broader market. The Russell 2000 small-caps index rose 8.26 points, or 0.4%, to 2,159.70. The index is up 9.4% this year, while the S&P 500 is up about 2% and the Nasdaq is up 5.6%.

Stocks have been mostly rallying this week, an encouraging start to February after a late fade in January as volatility spiked amid worries about the timing and scope of another round of stimulus spending by the Biden administration, unease over the effectiveness of the government’s coronavirus vaccine distribution and turbulent swings in GameStop and other stocks hyped on social media.

That volatility has subsided this week, with Wall Street focusing mainly on corporate earnings reports while it keeps an eye on Washington for signs of progress on a new aid package.

Democrats and Republicans remain far apart on support for President Joe Biden’s $1.9 trillion stimulus package, but investors are betting that the administration will opt for a reconciliation process to get the legislation through Congress.

Meanwhile, shares of Amazon dropped 2% even though the company reported a huge rise in quarterly profits. Amazon also said its founder and CEO Jeff Bezos would be stepping down as CEO to focus on broader work at the company.

Google’s parent company, Alphabet, jumped 7.3% after reporting a blowout quarter as its digital advertising machine regained momentum.

ASX 200 futures pointing lower​The Australian share market looks set to end its winning streak on Thursday. According to the latest SPI futures, the ASX 200 is poised to open the day 14 points or 0.2% lower this morning. 

This is despite stocks on Wall Street pushing higher overnight. On closing, the Dow Jones was up 0.12%, the S&P 500 is up 0.1%, and the Nasdaq was 0.02% lower.










https://apnews.com/article/joe-bide...markets-asia-1fd34905d93e317802697a9afb8799a1

*Major stock indexes end with modest gains on Wall Street*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped a choppy day of trading with modest gains Wednesday, as investors focused on some strong earnings reports from Big Tech companies while remaining cautiously optimistic that Washington will deliver more economic stimulus.

The S&P 500 inched up 0.1% after swinging between a gain of 0.6% and a loss of 0.3%. The tiny gain extended the benchmark index’s winning streak to a third day. Energy, communications and financial stocks helped lift the market. Those gains were primarily kept in check by declines in companies that rely on consumer spending and technology stocks. Treasury yields and oil prices rose.

Investors continued to watch shares of companies such as GameStop and AMC Entertainment, which have been targeted by a community of online investors seeking to force their stock prices higher. Both stocks rose modestly after plunging over the last two days. Both companies have been in the spotlight for more than two weeks as investors pushed the stocks to astronomical levels.

“There’s a tug of war that’s been brewing for a week or so now, that markets are ripe for a correction and whether the events of last week are a precipitating event,” said Jamie Cox, managing partner at Harris Financial Group.

The S&P 500 rose 3.86 points to 3,830.17. The Dow Jones Industrial Average gained 36.12 points, or 0.1%, to 30,723.60. The tech-heavy Nasdaq slipped 2.23 points, or less than 0.1%, to 13,610.54. The index had briefly been above its all-time high set last week.

Smaller companies fared better than the broader market. The Russell 2000 small-caps index rose 8.26 points, or 0.4%, to 2,159.70. The index is up 9.4% this year, while the S&P 500 is up about 2% and the Nasdaq is up 5.6%.

Stocks have been mostly rallying this week, an encouraging start to February after a late fade in January as volatility spiked amid worries about the timing and scope of another round of stimulus spending by the Biden administration, unease over the effectiveness of the government’s coronavirus vaccine distribution and turbulent swings in GameStop and other stocks hyped on social media.

That volatility has subsided this week, with Wall Street focusing mainly on corporate earnings reports while it keeps an eye on Washington for signs of progress on a new aid package.

Democrats and Republicans remain far apart on support for President Joe Biden’s $1.9 trillion stimulus package, but investors are betting that the administration will opt for a reconciliation process to get the legislation through Congress.

Meanwhile, shares of Amazon dropped 2% even though the company reported a huge rise in quarterly profits. Amazon also said its founder and CEO Jeff Bezos would be stepping down as CEO to focus on broader work at the company.

Google’s parent company, Alphabet, jumped 7.3% after reporting a blowout quarter as its digital advertising machine regained momentum.

GameStop and other recently high-flying stocks notched modest gains Wednesday. GameStop rose 2.7% and AMC climbed 14.7%. The stocks have been caught up in a speculative frenzy by traders in online forums who seek to inflict damage on Wall Street hedge funds that have bet the stocks would fall. GameStop plunged 60% on Tuesday, and AMC Entertainment lost 41.2%.

Treasury Secretary Janet Yellen has called for a meeting with the Securities and Exchange Commission, Federal Reserve and others to discuss the recent volatility and to determine “whether recent activities are consistent with investor protection and fair and efficient markets,” White House press secretary Jen Psaki said.

GameStop, whose shares have traded mostly on investor opinion instead of actual company news, announced it was hiring Matt Francis, formerly an engineering leader with Amazon Web Services, to the newly created role of chief technology officer.

The vaccine rollout is also becoming more organized and picking up steam.

“That’s very supportive of markets,” Cox said. “The events that will determine the outcome of 2021 are obviously how fast to we reach a point where the world can operate and function more normally.”

Energy companies rose as the price of crude oil jumped 1.7%. Exxon Mobil rose 3.9% and Schlumberger gained 7.4%.

The yield on the 10-year Treasury rose to 1.13% from 1.09% late Tuesday.


----------



## bigdog

*Solid company earnings and hopes for aid send stocks higher*

A broad rally on Wall Street Thursday added to the market’s solid gains this week and pushed the S&P 500 and Nasdaq composite to all-time highs.

Strong company earnings and optimism that Washington can reach a deal for another round of fiscal stimulus for millions of Americans who need it has kept investors in a buying mood this week. The S&P 500 rose 1.1%, eclipsing the benchmark index’s last record high set early last week. The three major stock indexes are on track for weekly gains above 3%, an encouraging start to February after a late fade in January.

Financial and technology companies lead the way higher. Small-company stocks also had a strong showing, another bullish signal that investors are feeling more optimistic about the economy.

“The path of least resistance seems to be higher,” said Brian Price, head of investment management for Commonwealth Financial Network. “We had a few minor pullbacks since the start of the year, but it really seems an extension of what we saw in the fourth quarter where it seems the market is anticipating lockdowns ending, people going back to work and economies broadly opening.”

The S&P 500 index rose 41.57 points to 3,871.74. It was the index’s fourth-straight gain. The Dow Jones industrial average picked up 332.26 points, or 1.1%, to 31,055.86. The technology-heavy Nasdaq gained 167.20 points, or 1.2%, to 13,777.74, also an all-time high. The Russell 2000 index of smaller company stocks climbed 42.72 points, or 2%, to 2,202.42.

Volatility spiked last month amid worries about the timing and scope of another round of stimulus spending by the Biden administration and unease over the effectiveness of the government’s coronavirus vaccine distribution. A wave of selling left the S&P 500 down 3.3% for the week.

Stocks have shaken off those concerns. So far this week, the S&P 500 is up 4.2%, more than making up for its pullback last week.

“There are a lot of reasons to be optimistic and, obviously, there’s a tremendous amount of stimulus in the system with talks of more,” Price said.

Wall Street continues to be focused on individual company earnings. Shares of eBay rose 5.3% and PayPal climbed 7.4% after both companies reported results that blew away Wall Street’s expectations.

“We’re really impressed with how corporate America has come through earnings season so far,” said Jeff Buchbinder, equity strategist at LPL Financial.

The performance so far is a surprising and welcome about-face from early projections for weak profits. Tech companies are doing particularly well, but financial and smaller companies are also releasing surprisingly good results, he said.

Analysts were expecting an earnings contraction of about 13% heading into the latest round of quarterly reports, according to FactSet. With about half of companies reporting, the S&P 500 is now showing earnings growth of just under 1% and estimates for both the next quarter and all of 2021 are improving.

Shares of the beaten-down companies that have been of intense interest by retail investors fell again. GameStop slid 42.1%, continuing is sharp pace downward following its meteoric rise over the previous two weeks. At $53.50 a share, it’s still well above the $17 price it fetched at the beginning of the year. It traded as high as $483 last Thursday. AMC Entertainment dropped 21%.

ASX 200 expected to rebound​The Australian share market looks set to rebound this morning and end the week on a high. According to the latest SPI futures, the ASX 200 is poised to open the day 64 points or 0.95% higher this morning.

On closing on Wall Street, the Dow Jones was up 1.08%, the S&P 500 was up 1.9%, and the Nasdaq was also up 1.23%



















						Asian shares rise amid hopes for global economic rebound
					

TOKYO (AP) — Asian shares rose Friday, echoing a rally on Wall Street, as hopes grew for a gradual global economic recovery from the damage of the coronavirus pandemic...




					apnews.com
				




*Solid company earnings and hopes for aid send stocks higher*

By DAMIAN J. TROISE and ALEX VEIGA

A broad rally on Wall Street Thursday added to the market’s solid gains this week and pushed the S&P 500 and Nasdaq composite to all-time highs.

Strong company earnings and optimism that Washington can reach a deal for another round of fiscal stimulus for millions of Americans who need it has kept investors in a buying mood this week. The S&P 500 rose 1.1%, eclipsing the benchmark index’s last record high set early last week. The three major stock indexes are on track for weekly gains above 3%, an encouraging start to February after a late fade in January.

Financial and technology companies lead the way higher. Small-company stocks also had a strong showing, another bullish signal that investors are feeling more optimistic about the economy.

“The path of least resistance seems to be higher,” said Brian Price, head of investment management for Commonwealth Financial Network. “We had a few minor pullbacks since the start of the year, but it really seems an extension of what we saw in the fourth quarter where it seems the market is anticipating lockdowns ending, people going back to work and economies broadly opening.”

The S&P 500 index rose 41.57 points to 3,871.74. It was the index’s fourth-straight gain. The Dow Jones industrial average picked up 332.26 points, or 1.1%, to 31,055.86. The technology-heavy Nasdaq gained 167.20 points, or 1.2%, to 13,777.74, also an all-time high. The Russell 2000 index of smaller company stocks climbed 42.72 points, or 2%, to 2,202.42.

Volatility spiked last month amid worries about the timing and scope of another round of stimulus spending by the Biden administration and unease over the effectiveness of the government’s coronavirus vaccine distribution. A wave of selling left the S&P 500 down 3.3% for the week.

Stocks have shaken off those concerns. So far this week, the S&P 500 is up 4.2%, more than making up for its pullback last week.

“There are a lot of reasons to be optimistic and, obviously, there’s a tremendous amount of stimulus in the system with talks of more,” Price said.

Wall Street continues to be focused on individual company earnings. Shares of eBay rose 5.3% and PayPal climbed 7.4% after both companies reported results that blew away Wall Street’s expectations.

“We’re really impressed with how corporate America has come through earnings season so far,” said Jeff Buchbinder, equity strategist at LPL Financial.

The performance so far is a surprising and welcome about-face from early projections for weak profits. Tech companies are doing particularly well, but financial and smaller companies are also releasing surprisingly good results, he said.

Analysts were expecting an earnings contraction of about 13% heading into the latest round of quarterly reports, according to FactSet. With about half of companies reporting, the S&P 500 is now showing earnings growth of just under 1% and estimates for both the next quarter and all of 2021 are improving.

Shares of the beaten-down companies that have been of intense interest by retail investors fell again. GameStop slid 42.1%, continuing is sharp pace downward following its meteoric rise over the previous two weeks. At $53.50 a share, it’s still well above the $17 price it fetched at the beginning of the year. It traded as high as $483 last Thursday. AMC Entertainment dropped 21%.

In Washington, President Joe Biden urged Democrats lawmakers to “act fast” on his economic stimulus plan but also said he’s open to changes. Democrats and Republicans remain far apart on support for President Joe Biden’s $1.9 trillion stimulus package, but investors are betting that the administration will opt for a reconciliation process to get the legislation through Congress.

In economic data, the number of Americans who filed for unemployment benefits fell below 800,000 last week, which was better than economist expectations but still remains high due to the pandemic. The Labor Department is due to report its jobs data for January on Friday. Wall Street is expecting the closely watched report will show the U.S. economy added 100,000 jobs last month. That would follow a loss of 140,000 jobs in December.

Meanwhile, vaccine distribution continues to move ahead and Wall Street expects an eventual fiscal aid package from Washington to give the economy another jolt.

“Each passing day with a million plus shots going into people arms gets us closer to full reopening,” Buchbinder said. “This economy, we think, will really be rolling in the next couple of months.”


----------



## bigdog

S&P 500 Climbs Again, Closing Out Best Week Since November​*Stocks closed out a winning week with their fifth gain in a row Friday and their biggest weekly increase since November.*​Wall Street closed out a winning week Friday as the S&P 500 notched its fifth gain in a row and its biggest weekly increase since November.

The benchmark index rose 0.4% and ended the week 4.6% higher, more than making up for its decline in January. The latest gain nudged the S&P 500 to another all-time high. The Nasdaq composite also capped the week with a record high. Small -company stocks fared even better than the broader market, a sign that investors are feeling more optimistic about the economy.

The market largely shrugged off a dismal jobs report for January that showed the U.S. economy remaining in dire straits due to the pandemic. Investors have been focusing instead on the prospects for another economic boost from Washington. Overnight, the Senate narrowly passed a measure that will fast-track aid.

"It looks as if the Democrats are moving ahead with or without support from Republicans, and that’s helping the market’s tone,” said Quincy Krosby, chief market strategist at Prudential Financial.

Surprisingly good company earnings reports, news that a recent surge in new coronavirus cases is easing, and progress in the distribution of vaccine, have also helped keep investors in a buying mood, she said.

The S&P 500 index rose 15.09 points, or 0.4%, to 3,886.83. Its weekly gain is its biggest since November. The Dow Jones Industrial Average gained 92.38 points, or 0.3%, to 31,148.24. The Nasdaq rose 78.55 points, or 0.6%, to 13,856.30.

The Department of Labor said Friday that employers added only 49,000 jobs in the month of January, far below economists' forecasts. The disappointing report came as much of the country remains saturated with coronavirus cases. A report on Thursday showed the number of Americans who filed for unemployment benefits remained well above historic norms.

“It’s very consistent with data over last two months which show that job growth is slowing,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

Service industries continue to be the hardest hit by the pandemic as people continue to refrain from travel and dining out, among other activities.

“In some ways it seems the reopening economy is still struggling a little bit and it’s responsible for quite a few jobs,” Samana said.

Investors are focused on the prospects for more stimulus. President Joe Biden urged Democratic lawmakers this week to “act fast” on his economic stimulus plan. Democrats and Republicans remain far apart on support for Biden’s $1.9 trillion stimulus package, but it appears Senate Democrats will be using their new-found majority to push the measure through without Republican support.

The Russell 2000 index of smaller company stocks climbed 30.91 points, or 1.4%, to 2,233.33, a record high. When the Russell outpaces other indexes it's a sign that investors are growing more confident about the economy’s growth prospects. The yield on the 10-year Treasury rose to 1.17% from 1.12% late Thursday.











https://www.usnews.com/news/busines...s-rise-amid-hopes-for-global-economic-rebound

S&P 500 Climbs Again, Closing Out Best Week Since November​*Stocks closed out a winning week with their fifth gain in a row Friday and their biggest weekly increase since November.*​By Associated Press, Wire Service Content Feb. 5, 2021, at 4:46 p.m.

DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street closed out a winning week Friday as the S&P 500 notched its fifth gain in a row and its biggest weekly increase since November.

The benchmark index rose 0.4% and ended the week 4.6% higher, more than making up for its decline in January. The latest gain nudged the S&P 500 to another all-time high. The Nasdaq composite also capped the week with a record high. Small -company stocks fared even better than the broader market, a sign that investors are feeling more optimistic about the economy.

The market largely shrugged off a dismal jobs report for January that showed the U.S. economy remaining in dire straits due to the pandemic. Investors have been focusing instead on the prospects for another economic boost from Washington. Overnight, the Senate narrowly passed a measure that will fast-track aid.

"It looks as if the Democrats are moving ahead with or without support from Republicans, and that’s helping the market’s tone,” said Quincy Krosby, chief market strategist at Prudential Financial.

Surprisingly good company earnings reports, news that a recent surge in new coronavirus cases is easing, and progress in the distribution of vaccine, have also helped keep investors in a buying mood, she said.

The S&P 500 index rose 15.09 points, or 0.4%, to 3,886.83. Its weekly gain is its biggest since November. The Dow Jones Industrial Average gained 92.38 points, or 0.3%, to 31,148.24. The Nasdaq rose 78.55 points, or 0.6%, to 13,856.30.

The Department of Labor said Friday that employers added only 49,000 jobs in the month of January, far below economists' forecasts. The disappointing report came as much of the country remains saturated with coronavirus cases. A report on Thursday showed the number of Americans who filed for unemployment benefits remained well above historic norms.

“It’s very consistent with data over last two months which show that job growth is slowing,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

Service industries continue to be the hardest hit by the pandemic as people continue to refrain from travel and dining out, among other activities.

“In some ways it seems the reopening economy is still struggling a little bit and it’s responsible for quite a few jobs,” Samana said.

Investors are focused on the prospects for more stimulus. President Joe Biden urged Democratic lawmakers this week to “act fast” on his economic stimulus plan. Democrats and Republicans remain far apart on support for Biden’s $1.9 trillion stimulus package, but it appears Senate Democrats will be using their new-found majority to push the measure through without Republican support.

The Russell 2000 index of smaller company stocks climbed 30.91 points, or 1.4%, to 2,233.33, a record high. When the Russell outpaces other indexes it's a sign that investors are growing more confident about the economy’s growth prospects. The yield on the 10-year Treasury rose to 1.17% from 1.12% late Thursday.

Gains in communications stocks and companies that rely on consumer spending helped lift the market, outweighing a decline in technology sector stocks.

Meanwhile, companies that online investors have clambered to over the past few weeks continued to trade with heavy volatility. GameStop jumped 19.2% to $63.77. That's far below the high of $483 it reached last week but still well above the $17 it traded at near the beginning of the year.

The rally in GameStop may have been spurred by Robinhood's move Friday to lift all the restrictions the online trading platform had placed last week on trading in the stock and shares of a few other companies that were hyped on social media and internet forums.


----------



## bigdog

ASX 200 expected to rise​
The ASX 200 is expected to open the week slightly higher. According to the latest SPI futures, the benchmark index is poised to rise 5 points at the open. This follows a positive end to the week on Wall Street, which saw the Dow Jones rise 0.3%, the S&P 500 climb 0.4%, and the Nasdaq push 0.6% higher. The S&P 500 climbed 4.7% over the five days, which was its best weekly performance since November.


----------



## bigdog

Stocks pushed to more gains and record highs on Wall Street, just as the market came off its biggest week since November.​
U.S. stocks notched more gains and pushed to new highs Monday, extending a winning streak that just gave the market its best weekly gain since November.

The S&P 500 rose 0.7%, it's sixth straight gain. The three major indexes climbed to an all-time high, as did a benchmark of smaller company stocks. Technology and financial stocks helped lead the broad rally. Energy sector companies surged the most following a 2% jump in the price of U.S. crude oil. Treasury yields mostly rose.

Investors have been encouraged by surprisingly good corporate earnings reports, news that a recent surge in new coronavirus cases is easing, and progress in the distribution of vaccines.

“The resilience of the corporate sector has been resounding,” said Ross Mayfield, investment strategy analyst at Baird. “The path of least resistance is still higher.”

The S&P 500 rose 28.76 points to 3,915.59. The Dow Jones Industrial Average gained 237.52 points, or 0.8%, to 31,385.76. The Nasdaq composite climbed 131.35 points, or1%, to 13,987.64.

Small-company stocks continued to far outpace the rest of the market, a sign investors are feeling optimistic about the economy. The Russell 2000 index rose 56.43 points, or 2.5%, to 2,289.76.

President Biden and Congressional Democrats appear to be moving forward with their own version of a coronavirus stimulus bill that is estimated to cost $1.9 trillion. The Senate and House took procedural steps late last week to pass the bill using a process known as reconciliation, which only requires 51 votes in the Senate. The Senate is split 50-50, with Vice President Kamala Harris the tiebreaking vote.

“Looks like they’ll get a package together and get it through probably in mid-March, which is when you start to see those emergency pandemic programs expire," said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management.

In another sign of optimism, Treasury yields continued to push mostly higher. The yield on the 10-year Treasury note rose to 1.17% from 1.15% late Friday, more than double where it was six months ago. While there have been near-zero signs of inflation in recent months, investors believe improving economic fortunes and trillions of dollars in stimulus could make stocks more attractive, and therefore make bond yields rise as their prices fall.

Energy stocks were among the big winners Monday. Marathon Oil notched the biggest gain in the S&P 500, vaulting 12.1%. Occidental Petroleum surged 12.81%.

Tesla rose 1.3% after the company said it purchased $1.5 billion in Bitcoin and pIans to allow customers to pay for their electric vehicles with the digital currency. Bitcoin was up 13.2% to $43,252, according to digital currency brokerage Coinbase.

Investors continue to watch shares of GameStop, AMC Entertainment and other beaten-down companies who have been a focus of online investors the last several weeks. GameStop shares fell 5.9% to $60 after shedding an early gain. The stock had a massive drop last week. Just this month GameStop shares are down more than 81%.

ASX 200 expected to fall​The Australian share market looks set to end its positive run on Tuesday. According to the latest SPI futures, the benchmark index is poised to fall 21 points or 0.3% at the open. This is despite stocks on Wall Street performing positively overnight.

On closing the Dow Jones was up 0.76%, the S&P 500 up 0.74%, and the Nasdaq trading 0.95% higher.











https://www.usnews.com/news/busines...s-rise-as-optimism-grows-over-global-recovery

Stocks Push to More Gains, and Record Highs, on Wall Street​Stocks pushed to more gains and record highs on Wall Street, just as the market came off its biggest week since November.​By Associated Press, Wire Service Content Feb. 8, 2021, at 4:40 p.m

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

U.S. stocks notched more gains and pushed to new highs Monday, extending a winning streak that just gave the market its best weekly gain since November.

The S&P 500 rose 0.7%, it's sixth straight gain. The three major indexes climbed to an all-time high, as did a benchmark of smaller company stocks. Technology and financial stocks helped lead the broad rally. Energy sector companies surged the most following a 2% jump in the price of U.S. crude oil. Treasury yields mostly rose.

Investors have been encouraged by surprisingly good corporate earnings reports, news that a recent surge in new coronavirus cases is easing, and progress in the distribution of vaccines.

“The resilience of the corporate sector has been resounding,” said Ross Mayfield, investment strategy analyst at Baird. “The path of least resistance is still higher.”

The S&P 500 rose 28.76 points to 3,915.59. The Dow Jones Industrial Average gained 237.52 points, or 0.8%, to 31,385.76. The Nasdaq composite climbed 131.35 points, or1%, to 13,987.64.

Small-company stocks continued to far outpace the rest of the market, a sign investors are feeling optimistic about the economy. The Russell 2000 index rose 56.43 points, or 2.5%, to 2,289.76.

President Biden and Congressional Democrats appear to be moving forward with their own version of a coronavirus stimulus bill that is estimated to cost $1.9 trillion. The Senate and House took procedural steps late last week to pass the bill using a process known as reconciliation, which only requires 51 votes in the Senate. The Senate is split 50-50, with Vice President Kamala Harris the tiebreaking vote.

“Looks like they’ll get a package together and get it through probably in mid-March, which is when you start to see those emergency pandemic programs expire," said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management.

In another sign of optimism, Treasury yields continued to push mostly higher. The yield on the 10-year Treasury note rose to 1.17% from 1.15% late Friday, more than double where it was six months ago. While there have been near-zero signs of inflation in recent months, investors believe improving economic fortunes and trillions of dollars in stimulus could make stocks more attractive, and therefore make bond yields rise as their prices fall.

Energy stocks were among the big winners Monday. Marathon Oil notched the biggest gain in the S&P 500, vaulting 12.1%. Occidental Petroleum surged 12.81%.

Tesla rose 1.3% after the company said it purchased $1.5 billion in Bitcoin and pIans to allow customers to pay for their electric vehicles with the digital currency. Bitcoin was up 13.2% to $43,252, according to digital currency brokerage Coinbase.

Investors continue to watch shares of GameStop, AMC Entertainment and other beaten-down companies who have been a focus of online investors the last several weeks. GameStop shares fell 5.9% to $60 after shedding an early gain. The stock had a massive drop last week. Just this month GameStop shares are down more than 81%.


----------



## bigdog

*Stocks end mixed, ending a 6-day winning streak for S&P 500*

The major U.S. stocks capped a listless day of trading Tuesday with an uneven finish that snapped a six-day winning streak for the S&P 500 even as the Nasdaq set another all-time high.

A late fade pulled the S&P 500 down 0.1%, just below its record high set a day earlier. The benchmark index closed with a nearly even split between gainers and losers. A mix of companies that deal with consumer services and products were the biggest drag on the broader market, outweighing gains in communications, industrial and health care stocks.

A slight pullback after six straight days of gains is not uncommon, as investors pause during a rally to reassess and wait for more economic data to see where the market goes next.

Investors continued to monitor the action in Washington, where it appears Democrats plan to move ahead without Republican help on a major stimulus bill for the economy.

“It seems like fiscal stimulus will pass through reconciliation and the result will be one that is larger than was thought probably two or three weeks ago,” said Keith Buchanan, senior portfolio manager at Globalt Investments.

The S&P 500 index slipped 4.36 points to 3,911.23. The Dow Jones Industrial Average dropped 9.93 points, or less than 0.1%, to 31,375.83. The Nasdaq rose 20.06 points, or 0.1%, to 14,007.70, its fourth straight gain. The Russell 2000 index of small company stocks rose 9.24 points, or 0.4%, to 2,299. The four indexes set all-time highs on Monday.

Stocks have been moving steadily higher for several days as Wall Street becomes more optimistic that the worst parts of the economic impact of the coronavirus pandemic might be in the rearview mirror. Vaccine rollouts continue both in the U.S. and globally, with the U.S. administrating hundreds of thousands of doses per day.

“The vaccinations have outpaced the virus and that becomes part of what’s playing into the optimism in the market,” Buchanan said. “It makes for an environment where it’s getting back to some sense of normality.”

Washington is preparing to go big for its next round of economic stimulus to support struggling Americans and businesses. Democrats have rallied around President Joe Biden’s $1.9 trillion stimulus plan, which will include one-time payments to Americans plus a likely increase in the federal minimum wage to $15 an hour.

Expectations for another financial boost for the economy have helped keep investors in a buying mood.

The market’s strong start to February and the strength in shares of companies that rely on consumer spending “is an indicator of the optimism creeping higher and the assumption that consumers in the U.S. will get a larger check perhaps than we thought three or four weeks ago,” Buchanan said.

ASX 200 futures pointing higher​The Australian share market is expected to rebound slightly on Wednesday. According to the latest SPI futures, the benchmark index is poised to open the day 0.2% or 13 points higher. 

The major U.S. stocks capped a listless day of trading Tuesday with an uneven finish that snapped a six-day winning streak for the S&P 500 even as the Nasdaq set another all-time high. On closing the DOW was down 0.03%, the S&P 500 down 0.11%, and the Nasdaq 0.14% higher.

















						Asian stocks advance after Wall St ends winning streak
					

BEIJING (AP) — Asian stock markets rose Wednesday after Wall Street broke a six-day winning streak.  Shanghai, Tokyo, Hong Kong and Seoul all advanced. Wall Street's benchmark S&P 500 index ended down 0.1% as investors watched Washington, where President Joe Biden’s Democrats planned to move...




					apnews.com
				




*Stocks end mixed, ending a 6-day winning streak for S&P 500*

By DAMIAN J. TROISE and ALEX VEIGA

By Associated Press, Wire Service Content Feb. 9

The major U.S. stocks capped a listless day of trading Tuesday with an uneven finish that snapped a six-day winning streak for the S&P 500 even as the Nasdaq set another all-time high.

A late fade pulled the S&P 500 down 0.1%, just below its record high set a day earlier. The benchmark index closed with a nearly even split between gainers and losers. A mix of companies that deal with consumer services and products were the biggest drag on the broader market, outweighing gains in communications, industrial and health care stocks.

A slight pullback after six straight days of gains is not uncommon, as investors pause during a rally to reassess and wait for more economic data to see where the market goes next.

Investors continued to monitor the action in Washington, where it appears Democrats plan to move ahead without Republican help on a major stimulus bill for the economy.

“It seems like fiscal stimulus will pass through reconciliation and the result will be one that is larger than was thought probably two or three weeks ago,” said Keith Buchanan, senior portfolio manager at Globalt Investments.

The S&P 500 index slipped 4.36 points to 3,911.23. The Dow Jones Industrial Average dropped 9.93 points, or less than 0.1%, to 31,375.83. The Nasdaq rose 20.06 points, or 0.1%, to 14,007.70, its fourth straight gain. The Russell 2000 index of small company stocks rose 9.24 points, or 0.4%, to 2,299. The four indexes set all-time highs on Monday.

Stocks have been moving steadily higher for several days as Wall Street becomes more optimistic that the worst parts of the economic impact of the coronavirus pandemic might be in the rearview mirror. Vaccine rollouts continue both in the U.S. and globally, with the U.S. administrating hundreds of thousands of doses per day.

“The vaccinations have outpaced the virus and that becomes part of what’s playing into the optimism in the market,” Buchanan said. “It makes for an environment where it’s getting back to some sense of normality.”

Washington is preparing to go big for its next round of economic stimulus to support struggling Americans and businesses. Democrats have rallied around President Joe Biden’s $1.9 trillion stimulus plan, which will include one-time payments to Americans plus a likely increase in the federal minimum wage to $15 an hour.

Expectations for another financial boost for the economy have helped keep investors in a buying mood.

The market’s strong start to February and the strength in shares of companies that rely on consumer spending “is an indicator of the optimism creeping higher and the assumption that consumers in the U.S. will get a larger check perhaps than we thought three or four weeks ago,” Buchanan said.

Several companies made big moves after reporting their latest quarterly results Tuesday. Hanesbrands soared 24.9% for the biggest gain in the S&P 500 after reporting earnings that came in well ahead of what analysts were expecting.

Mobile games developer Glu Mobile vaulted 34.9% after it agreed to be acquired by Electronic Arts in a deal valued at $2.1 billion. Shares in Electronic Arts, maker of “Medal of Honor” and other video games, rose 2.6%.

Shares of GameStop and AMC Entertainment continue to be volatile, as online investors remain in a tug-of-war with Wall Street institutional investors over the struggling companies’ values. GameStop shares fell 16.1% and AMC lost 11%.

Traders in cryptocurrencies continued to push up the price of bitcoin. It rose 7.3% to $47,184, according to the tracking site CoinDesk. Bitcoin futures on the Chicago Mercantile Exchange climbed 6.6% to $47,700. The futures allow investors to make bets on the future price of the digital currency.

Treasury yields were mostly higher. The yield on the 10-year Treasury note rose to 1.16% from 1.14% late Monday.


----------



## bigdog

*Stocks End Mixed After a Day of Wavering; Bond Yields Fall*

Major U.S. stock indexes ended another up-and-down day of trading more or less where they started out, although a small gain nudged the Dow Jones Industrial Average to another record high.

Another wobbly day on Wall Street ended with the major stock indexes mostly lower, though the Dow Jones Industrial Average inched up to another all-time high.

The S&P 500 slipped less than 0.1% after swinging between a gain of 0.5% and a loss of 0.7%. Nearly 60% of the companies in the benchmark index rose, though a slide in technology stocks and companies that provide consumer services and products kept those gains in check.

Treasury yields fell after a government report showed that inflation remained tame last month.

The muted market action follows a string of record highs for the major stock indexes. Investors have been encouraged by surprisingly good company earnings reports, indications that a recent surge in new coronavirus cases is easing, progress in the distribution of vaccines and signs that lawmakers in Washington are moving toward delivering another financial boost for the economy.

“We're sort of catching our breath after the surge we had last week,” Sam Stovall, chief investment strategist at CFRA.

The S&P 500 dropped 1.35 points to 3,909.88. The Dow rose 61.97 points, or 0.2% to 31,437.80. The Nasdaq lost 35.16 points, or 0.3%, to 13,972.53. The Russell 2000 index of small companies fell 16.56 points, or 0.7%, to 2,282.44.

The Labor Department said Wednesday that U.S. consumer prices rose 0.3% in January, led by a surge in energy. Even though the gain was the biggest monthly increase since July, inflation over the past year has remained relatively low, up a modest 1.4%. Core inflation, which excludes volatile food and energy costs, is also up 1.4% with core prices unchanged in January.

The report was encouraging for investors because it suggests the U.S. economy will be able to receive more stimulus without overheating.

“Generally, the market has seen a very favorable backdrop and that likely remains the case going forward,” said Sal Bruno, chief investment officer at IndexIQ. “Inflation remains benign and there’s still going to be a pretty big stimulus package going forward.”

The yield on the 10-year Treasury note fell to 1.13% from 1.15% late Wednesday. It was as a high as 1.20% earlier this week.

Investors have started watching inflation metrics more closely as Democrats in Congress prepare to inject $1.9 trillion of stimulus into the economy. U.S. businesses are starting to reopen and millions of Americans are now vaccinated, meaning there could be a surge of economic activity and therefore potential inflation. Before Wednesday’s report, Treasury yields had been climbing steadily for weeks, which is typically a sign that investors expect both the economy to get better and for inflation to increase.

“Consumer price inflation remains very tame,” said Kathy Bostjancic, chief U.S. financial economist at Oxford Economics.

Investors continued to monitor the latest company earnings reports. Twitter and Under Armour jumped 13.2% and 8.3%, respectively, after delivering quarterly report cards that were much better than analysts were expecting. Twitter became the latest tech giant to report strong results despite the pandemic.

ASX 200 futures pointing lower​It looks set to be a tough day for the Australian share market on Thursday. According to the latest SPI futures, the benchmark index is expected to open the day 0.5% or 32 points lower this morning. 

Another wobbly day on Wall Street ended with the major stock indexes mostly lower, though the Dow Jones Industrial Average inched up to another all-time high.  On closing the Dow Jones was up 0.20%, the S&P 500 down 0.03%, and the Nasdaq down 0.25%










https://www.usnews.com/news/busines...cks-advance-after-wall-st-ends-winning-streak

*Stocks End Mixed After a Day of Wavering; Bond Yields Fall*

Major U.S. stock indexes ended another up-and-down day of trading more or less where they started out, although a small gain nudged the Dow Jones Industrial Average to another record high.

By Associated Press, Wire Service Content Feb. 10, 2021, at 4:51 p.m.

By KEN SWEET, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Another wobbly day on Wall Street ended with the major stock indexes mostly lower, though the Dow Jones Industrial Average inched up to another all-time high.

The S&P 500 slipped less than 0.1% after swinging between a gain of 0.5% and a loss of 0.7%. Nearly 60% of the companies in the benchmark index rose, though a slide in technology stocks and companies that provide consumer services and products kept those gains in check.

Treasury yields fell after a government report showed that inflation remained tame last month.

The muted market action follows a string of record highs for the major stock indexes. Investors have been encouraged by surprisingly good company earnings reports, indications that a recent surge in new coronavirus cases is easing, progress in the distribution of vaccines and signs that lawmakers in Washington are moving toward delivering another financial boost for the economy.

“We're sort of catching our breath after the surge we had last week,” Sam Stovall, chief investment strategist at CFRA.

The S&P 500 dropped 1.35 points to 3,909.88. The Dow rose 61.97 points, or 0.2% to 31,437.80. The Nasdaq lost 35.16 points, or 0.3%, to 13,972.53. The Russell 2000 index of small companies fell 16.56 points, or 0.7%, to 2,282.44.

The Labor Department said Wednesday that U.S. consumer prices rose 0.3% in January, led by a surge in energy. Even though the gain was the biggest monthly increase since July, inflation over the past year has remained relatively low, up a modest 1.4%. Core inflation, which excludes volatile food and energy costs, is also up 1.4% with core prices unchanged in January.

The report was encouraging for investors because it suggests the U.S. economy will be able to receive more stimulus without overheating.

“Generally, the market has seen a very favorable backdrop and that likely remains the case going forward,” said Sal Bruno, chief investment officer at IndexIQ. “Inflation remains benign and there’s still going to be a pretty big stimulus package going forward.”

The yield on the 10-year Treasury note fell to 1.13% from 1.15% late Wednesday. It was as a high as 1.20% earlier this week.

Investors have started watching inflation metrics more closely as Democrats in Congress prepare to inject $1.9 trillion of stimulus into the economy. U.S. businesses are starting to reopen and millions of Americans are now vaccinated, meaning there could be a surge of economic activity and therefore potential inflation. Before Wednesday’s report, Treasury yields had been climbing steadily for weeks, which is typically a sign that investors expect both the economy to get better and for inflation to increase.

“Consumer price inflation remains very tame,” said Kathy Bostjancic, chief U.S. financial economist at Oxford Economics.

Investors continued to monitor the latest company earnings reports. Twitter and Under Armour jumped 13.2% and 8.3%, respectively, after delivering quarterly report cards that were much better than analysts were expecting. Twitter became the latest tech giant to report strong results despite the pandemic.

Energy companies made some of the broadest gains as oil prices edged higher, adding to a roughly 12% gain so far in February. Devon Energy rose 4.6% and Hess gained 2.1%.

Cannabis stocks surged as members of the same online forum that hyped up GameStop, AMC Entertainment and other beaten-down companies in recent weeks began encouraging each other to snap up shares in marijuana companies.

Canadian cannabis company Sundial Growers vaulted 78.8%. The stock is up more than 500% so far this year. Shares in Aphria and Tilray, Canadian companies that agreed to combine in December, also rose. Aphria gained 10.7%, adding to its 280% gain this year, while Tilray jumped 50.9%. It's up more than 670% this year.

Marijuana stocks had been surging before becoming the latest darling of online investors as more states moved last year to allow legal sales. The stocks are also benefiting from optimism that industry friendly legislation measures could become law under the Biden administration. Last week, Democratic leaders in the Senate reiterated their intention to move on comprehensive cannabis reform in the current legislative session.

“At least in this case there's either momentum or fundamentals underpinning a move like this,” Stovall said. “At the same time, you wonder if it's simply another form of speculation.”

Shares in GameStop and AMC Entertainment, which have been recently pulling back sharply from their runup at the end of January, rose 1.8% and 5.5%, respectively.


----------



## bigdog

US Stock Indexes Wobble as Investor Caution Offsets Optimism​Stocks are closing nearly flat on Wall Street Thursday as investors remain cautiously optimistic about prospects for a new round of government aid as the economic recovery seemingly stalls.​Another day of choppy trading on Wall Street left the major U.S. stock indexes nearly flat Thursday, even as the S&P 500 and Nasdaq composite hit all-time highs.

The S&P 500 rose 0.2% after wobbling between small gains and losses up until the final minutes of trading. Technology stocks led the gainers after two relatively weak days, almost single-handedly outweighing losses by energy stocks, banks and companies that rely on consumer spending.

The yield on 10-year Treasury notes rose to 1.16% from 1.15% late Wednesday after being as high as 1.20% earlier this week.

Wall Street continued to digest solid corporate earnings and updates on a decline of new virus cases. The latest government report on jobless claims, though, reaffirmed that employment remains a weak spot in the economy as vaccine distribution ramps up in the hopes of eventually ending the pandemic and its impact.

While the number of unemployment claims fell slightly, they remain well above historic levels.

“Even though (claims) are a bit better, they’re still elevated, and this is a concern because we need to get people back to work," said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors.

The S&P 500 rose 6.50 points to 3,916.38, eclipsing the index's last record high set Monday. The Dow Jones Industrial Average slipped 7.10 points, or less than 0.1%, to 31,430.70 a day after setting a new record high. The tech-heavy Nasdaq gained 53.24 points, or 0.4%, to 14,025.77. Its previous all-time high was Tuesday.

Small company stocks, which have been strong gainers on hopes for an economic recovery by the second half of this year, notched gains. The Russell 2000 index added 2.88 points, or 0.1%, to 2,285.32. The index is up 15.7% so far this year, while the S&P 500 is up 4.3%.

The action has been mostly muted on Wall Street this week following a string of record highs for the major stock indexes. Investors are still looking for more government aid to help bolster the struggling economy as vaccine distribution progresses and the number of new virus cases continues falling. Democrats in Congress are working on a potential $1.9 trillion relief package that would include direct payments to people and more jobless aid as unemployment remains stubbornly high.

The number of Americans seeking unemployment benefits fell slightly last week to 793,000. The job market had shown tentative improvement last summer but slowed through the fall and in the past two months. Nearly 10 million jobs still remain lost to the pandemic.

Companies continued reporting mostly solid earnings Thursday, adding to a surprisingly good earnings season. Kraft Heinz climbed 4.9% and Zillow Group jumped 17.8% after beating Wall Street's fourth-quarter profit forecasts.

The pandemic and business shutdowns are still hurting many companies and crimping their financial results. Molson Coors fell 9.1% for the biggest decline in the S&P 500 after its profits fell short of expectations because business shutdowns in Europe hurt sales.

Elsewhere in the market, shares of online dating service operator Bumble soared 63.5% on their first day of trading. And cannabis stocks fell broadly a day after surging amid a buying spree fueled partly by members of the same online forum that hyped GameStop and other beaten-down companies in recent weeks.

Many markets in Asia were closed for the Lunar New Year and other holidays. Markets in Europe ended mixed

ASX 200 futures pointing lower​The Australian share market could have an underwhelming finish to the week on Friday. According to the latest SPI futures, the benchmark index is expected to open the day 0.1% or 5 points lower this morning. 

This follows another day of choppy trading on Wall Street left the major U.S. stock indexes nearly flat Thursday, even as the S&P 500 and Nasdaq composite hit all-time highs.  On closing  the Dow Jones down 0.2%, the S&P 500 up 0.17%, and the Nasdaq 0.38% higher.










https://www.usnews.com/news/busines...mostly-gain-after-biden-speaks-with-chinas-xi

US Stock Indexes Wobble as Investor Caution Offsets Optimism​Stocks are closing nearly flat on Wall Street Thursday as investors remain cautiously optimistic about prospects for a new round of government aid as the economic recovery seemingly stalls.​By Associated Press, Wire Service Content Feb. 11, 2021, at 4:59 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Another day of choppy trading on Wall Street left the major U.S. stock indexes nearly flat Thursday, even as the S&P 500 and Nasdaq composite hit all-time highs.

The S&P 500 rose 0.2% after wobbling between small gains and losses up until the final minutes of trading. Technology stocks led the gainers after two relatively weak days, almost single-handedly outweighing losses by energy stocks, banks and companies that rely on consumer spending.

The yield on 10-year Treasury notes rose to 1.16% from 1.15% late Wednesday after being as high as 1.20% earlier this week.

Wall Street continued to digest solid corporate earnings and updates on a decline of new virus cases. The latest government report on jobless claims, though, reaffirmed that employment remains a weak spot in the economy as vaccine distribution ramps up in the hopes of eventually ending the pandemic and its impact.

While the number of unemployment claims fell slightly, they remain well above historic levels.

“Even though (claims) are a bit better, they’re still elevated, and this is a concern because we need to get people back to work," said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors.

The S&P 500 rose 6.50 points to 3,916.38, eclipsing the index's last record high set Monday. The Dow Jones Industrial Average slipped 7.10 points, or less than 0.1%, to 31,430.70 a day after setting a new record high. The tech-heavy Nasdaq gained 53.24 points, or 0.4%, to 14,025.77. Its previous all-time high was Tuesday.

Small company stocks, which have been strong gainers on hopes for an economic recovery by the second half of this year, notched gains. The Russell 2000 index added 2.88 points, or 0.1%, to 2,285.32. The index is up 15.7% so far this year, while the S&P 500 is up 4.3%.

The action has been mostly muted on Wall Street this week following a string of record highs for the major stock indexes. Investors are still looking for more government aid to help bolster the struggling economy as vaccine distribution progresses and the number of new virus cases continues falling. Democrats in Congress are working on a potential $1.9 trillion relief package that would include direct payments to people and more jobless aid as unemployment remains stubbornly high.

The number of Americans seeking unemployment benefits fell slightly last week to 793,000. The job market had shown tentative improvement last summer but slowed through the fall and in the past two months. Nearly 10 million jobs still remain lost to the pandemic.

Companies continued reporting mostly solid earnings Thursday, adding to a surprisingly good earnings season. Kraft Heinz climbed 4.9% and Zillow Group jumped 17.8% after beating Wall Street's fourth-quarter profit forecasts.

The pandemic and business shutdowns are still hurting many companies and crimping their financial results. Molson Coors fell 9.1% for the biggest decline in the S&P 500 after its profits fell short of expectations because business shutdowns in Europe hurt sales.

Elsewhere in the market, shares of online dating service operator Bumble soared 63.5% on their first day of trading. And cannabis stocks fell broadly a day after surging amid a buying spree fueled partly by members of the same online forum that hyped GameStop and other beaten-down companies in recent weeks.

Aphria and Tilray, Canadian cannabis companies that agreed to combine in December, fell 35.8% and 49.7%, respectively. So far this year, Aphria has more than doubled, while Tilray has nearly quadrupled in value. Sundial Growers fared better, recovering from an early slide to gain 3.1%. It's price has increased more than six-fold this year.

Shares of Mastercard rose 2.6% after the payment processing company said it would start integrating cyber currencies into its payment network, allowing people to potentially transfer currencies like Bitcoin from customer to merchant. Bitcoin also rose on the announcement, gaining more than 4%, according to the online currency brokerage Coinbase.

President Joe Biden held his first conversation with Chinese leader Xi Jinping. Although there wasn’t any indication of a major change in U.S. trade policy, businesses are hoping for a less combative approach to trade policy between the world’s two biggest economies than during the Trump administration. Technology companies were among some of the hardest hit companies by tough trade policies during the previous administration.

Many markets in Asia were closed for the Lunar New Year and other holidays. Markets in Europe ended mixed.


----------



## bigdog

*S&P 500 closes wobbly week at new record high*

Most Asian markets were closed to mark the Lunar New Year and European markets closed higher.

U.S. stock and bond markets are closed Monday for Washington’s Birthday.

Technology companies led a late-afternoon rally on Wall Street Friday that capped a week of wobbly trading with the major stock indexes hitting all-time highs.

The S&P 500 rose 0.5% after spending most of the day wavering between small gains and losses. The gain nudged the benchmark index to a record high for the second day in a row. The tech-heavy Nasdaq composite and the Dow Jones Industrial Average also set new highs.

More companies reported solid earnings, including manufacturer Mohawk Industries and genetic testing company Illumina. Bond yields rose, giving banks a boost. Bumble shares continued to climb after the company made a big splash in its stock market debut the day before.

Optimism that Washington will come through on trillions of dollars of more aid for the economy and encouraging company earnings reports have helped stocks grind higher this month, along with hopes that the coronavirus vaccine rollout will set the stage for stronger economic growth in the second half of this year.

“The one thing that continues to be supportive for the market is just the fact that the risk-reward in the U.S. equity market still seems to be the best game in town,” said J.J. Kinahan, chief strategist with TD Ameritrade.

The S&P 500 rose 18.45 points to 3,934.83, while the Dow gained 27.70 points, or 0.1% to 31,458.40. The Nasdaq added 69.70 points, or 0.5%, to 14,095.47.

Traders also bid up shares in smaller companies. The Russell 2000 index rose 4.04 points, or 0.2%, to 2,289.36.

Despite a week of mostly minor gains and losses for the broader market, the S&P 500 notched its second straight weekly gain.

Investors are hoping for a new round of U.S. government aid as the economic recovery falters. The latest U.S. government report on jobless claims reaffirmed that employment remains a weak spot in the economy, even as vaccine distribution ramps up in the hopes of eventually ending the pandemic. The University of Michigan survey of consumer sentiment came in well below expectations as well, a sign that consumers are wary to spend in the face of economic uncertainty.

Investors do not expect the market to move substantially higher in the near term until there’s more clarity on the future of government stimulus and the direction of the U.S. economy. Democrats have decided to use a legislative process that does not require Republican support to pass the $1.9 trillion package.

“We’re sort of awaiting catalysts,” said Jeffrey Kleintop, chief global investment strategist at Charles Schwab. “The market is still of the opinion that there will be a vaccine-led, broad economic recovery in the second half of this year.”

A majority of companies have now reported their latest round of earnings and the results have been surprisingly good. Roughly 75% of companies in the S&P 500 have released results, showing overall growth of 2.8%, according to FactSet. That’s a sharp reversal from the 13% contraction analysts had forecast in late September.










https://apnews.com/article/technolo...cial-markets-6055b043e5c92355cde80b975bedc6ac

*S&P 500 closes wobbly week at new record high*

By KEN SWEET, DAMIAN J. TROISE and ALEX VEIGA

Technology companies led a late-afternoon rally on Wall Street Friday that capped a week of wobbly trading with the major stock indexes hitting all-time highs.

The S&P 500 rose 0.5% after spending most of the day wavering between small gains and losses. The gain nudged the benchmark index to a record high for the second day in a row. The tech-heavy Nasdaq composite and the Dow Jones Industrial Average also set new highs.

More companies reported solid earnings, including manufacturer Mohawk Industries and genetic testing company Illumina. Bond yields rose, giving banks a boost. Bumble shares continued to climb after the company made a big splash in its stock market debut the day before.

Optimism that Washington will come through on trillions of dollars of more aid for the economy and encouraging company earnings reports have helped stocks grind higher this month, along with hopes that the coronavirus vaccine rollout will set the stage for stronger economic growth in the second half of this year.

“The one thing that continues to be supportive for the market is just the fact that the risk-reward in the U.S. equity market still seems to be the best game in town,” said J.J. Kinahan, chief strategist with TD Ameritrade.

The S&P 500 rose 18.45 points to 3,934.83, while the Dow gained 27.70 points, or 0.1% to 31,458.40. The Nasdaq added 69.70 points, or 0.5%, to 14,095.47.

Traders also bid up shares in smaller companies. The Russell 2000 index rose 4.04 points, or 0.2%, to 2,289.36.

Despite a week of mostly minor gains and losses for the broader market, the S&P 500 notched its second straight weekly gain.

Investors are hoping for a new round of U.S. government aid as the economic recovery falters. The latest U.S. government report on jobless claims reaffirmed that employment remains a weak spot in the economy, even as vaccine distribution ramps up in the hopes of eventually ending the pandemic. The University of Michigan survey of consumer sentiment came in well below expectations as well, a sign that consumers are wary to spend in the face of economic uncertainty.

Investors do not expect the market to move substantially higher in the near term until there’s more clarity on the future of government stimulus and the direction of the U.S. economy. Democrats have decided to use a legislative process that does not require Republican support to pass the $1.9 trillion package.

“We’re sort of awaiting catalysts,” said Jeffrey Kleintop, chief global investment strategist at Charles Schwab. “The market is still of the opinion that there will be a vaccine-led, broad economic recovery in the second half of this year.”

A majority of companies have now reported their latest round of earnings and the results have been surprisingly good. Roughly 75% of companies in the S&P 500 have released results, showing overall growth of 2.8%, according to FactSet. That’s a sharp reversal from the 13% contraction analysts had forecast in late September.

Mohawk Industries shares climbed 6% after the company posted stronger-than-expected quarterly earnings. Genetic analytics company Illumina jumped 11.9% for the biggest gains in the S&P 500 following its encouraging earnings report.

Bumble shares rose a further 7.3%, extending big first-day gains Thursday on the company’s initial public offering.

Banks made some of the strongest gains as bond yields rose, which allow them to charge more lucrative interest on loans. The yield on the 10-year Treasury rose to 1.20% from 1.16% late Thursday. Wells Fargo gained 2.5%.

Most Asian markets were closed to mark the Lunar New Year and European markets closed higher.

U.S. stock and bond markets are closed Monday for Washington’s Birthday.


----------



## bigdog

*NYSE will be closed Monday, February 15 for Washington's Birthday*

ASX futures pointing higher​It looks set to be a positive start to the week for the Australian share market. According to the latest SPI futures, the ASX 200 is expected to open the day 37 points or 0.55% higher this morning. This follows a positive finish to the week on Wall Street. On Friday night the Dow Jones rose 0.1%, the S&P 500 climbed 0.5%, and the Nasdaq index also rose 0.5%.


----------



## bigdog

*Shanghai and Hong Kong were closed for the Lunar New Year. U.S. markets remained closed Monday for Washington’s Birthday.

World stocks rally, bringing Japanese market to 30-year high*

World shares started the week off with a rally, as Japan’s Nikkei 225 index closed above 30,000 for the first time since August 1990.

European markets closed sharply higher on Monday, following an advance in Asia. Shanghai and Hong Kong were closed for the Lunar New Year. U.S. markets remained closed Monday for Washington’s Birthday.

Optimism that the U.S. government will come through on trillions of dollars of more aid for the economy and encouraging company earnings reports have helped stocks grind higher this month, along with hopes that the coronavirus vaccine rollout will set the stage for stronger economic growth in the second half of this year.

Democrats have decided to use a legislative process that does not require Republican support to pass the $1.9 trillion package proposed by President Joe Biden.

“Markets remain target fixated on the Biden stimulus and vaccine rollouts as the magic panacea for the world’s pandemic ills,” Jeffrey Halley of Oanda said in a commentary. That has translated into higher stock prices, with the world awash with stimulus funds seeking returns in a world where interest rates are around zero percent, he said.

Germany’s DAX gained 0.4% to 14,109.48 while the CAC40 in Paris rose 1.5% to 5,786.25. Britain’s FTSE 100 surged 2.5% to 6,756.11. U.S. futures also rose, with the contract for the S&P 500 up 0.5%. The future for the Dow industrials rose 0.6%.

The strong buying in Tokyo was driven by news that the Japanese economy grew at a nearly 13% annual pace in the last quarter, and by strong corporate earnings reports. It was the second straight quarter of growth after a downturn drastically worsened by the impact of the pandemic.

The recovery should put the economy on track to recover to pre-pandemic levels by next year, helped by a recovery in demand for exports in the U.S. and other major trading partners, Marcel Thieliant of Capital Economies said in a report.

Japan recently re-imposed a state of emergency in Tokyo and several other prefectures to battle a resurgence of outbreaks. But sustained corporate investment and government spending are expected to help offset the impact on travel, restaurants and other sectors most affected.

“And while most economists expect a renewed contraction this quarter due to the second state of emergency, we think that output will be broadly flat in Q1 and rise more strongly this year than almost anyone anticipates,” Thieliant said.

The Nikkei 225 closed up 1.9% at 30,084.15. It was its highest level since August 1990, just as Japan’s bubble economy was beginning to implode after peaking at nearly 39,000 in 1989.

ASX futures pointing higher​
The Australian share market looks set to climb again on Tuesday following a positive night of trade in Europe. According to the latest SPI futures, the ASX 200 is expected to open the day 24 points or 0.35% higher today. Wall Street was closed for President’s Day but Europe was open and saw the DAX rise 0.4% and the FTSE jump 2.5%.

*NYSE was closed for President’s Day*





*Rest of World*









https://apnews.com/article/financia...rus-pandemic-8d898cf4ef6e7053b3804249389213e9

*World stocks rally, bringing Japanese market to 30-year high*

By ELAINE KURTENBACH

World shares started the week off with a rally, as Japan’s Nikkei 225 index closed above 30,000 for the first time since August 1990.

European markets closed sharply higher on Monday, following an advance in Asia. Shanghai and Hong Kong were closed for the Lunar New Year. U.S. markets remained closed Monday for Washington’s Birthday.

Optimism that the U.S. government will come through on trillions of dollars of more aid for the economy and encouraging company earnings reports have helped stocks grind higher this month, along with hopes that the coronavirus vaccine rollout will set the stage for stronger economic growth in the second half of this year.

Democrats have decided to use a legislative process that does not require Republican support to pass the $1.9 trillion package proposed by President Joe Biden.

“Markets remain target fixated on the Biden stimulus and vaccine rollouts as the magic panacea for the world’s pandemic ills,” Jeffrey Halley of Oanda said in a commentary. That has translated into higher stock prices, with the world awash with stimulus funds seeking returns in a world where interest rates are around zero percent, he said.

Germany’s DAX gained 0.4% to 14,109.48 while the CAC40 in Paris rose 1.5% to 5,786.25. Britain’s FTSE 100 surged 2.5% to 6,756.11. U.S. futures also rose, with the contract for the S&P 500 up 0.5%. The future for the Dow industrials rose 0.6%.

The strong buying in Tokyo was driven by news that the Japanese economy grew at a nearly 13% annual pace in the last quarter, and by strong corporate earnings reports. It was the second straight quarter of growth after a downturn drastically worsened by the impact of the pandemic.

The recovery should put the economy on track to recover to pre-pandemic levels by next year, helped by a recovery in demand for exports in the U.S. and other major trading partners, Marcel Thieliant of Capital Economies said in a report.

Japan recently re-imposed a state of emergency in Tokyo and several other prefectures to battle a resurgence of outbreaks. But sustained corporate investment and government spending are expected to help offset the impact on travel, restaurants and other sectors most affected.

“And while most economists expect a renewed contraction this quarter due to the second state of emergency, we think that output will be broadly flat in Q1 and rise more strongly this year than almost anyone anticipates,” Thieliant said.

The Nikkei 225 closed up 1.9% at 30,084.15. It was its highest level since August 1990, just as Japan’s bubble economy was beginning to implode after peaking at nearly 39,000 in 1989.

Other Asian markets also saw strong gains. The Kospi in Seoul rose 1.5% to 3,147.00 and India’s Sensex climbed 1.1% to 54, 102.41. In Australia, the S&P/ASX 200 rose 0.9% to 6,868.90.

Thailand’s SET benchmark index gained 0.9% after the government forecast the economy will expand by 2.5%-3.5% this year after contracting 6.1% in 2020 as the government restricted international travel and imposed other limits on activities to combat the pandemic.


----------



## bigdog

*Stocks end wobbly day mostly lower; natural gas prices surge*

U.S. stock indexes closed mostly lower Tuesday as losses in health care and technology companies kept gains in energy and other sectors of the market in check.

Much of Asia remains closed in observance of the Lunar New Year

The S&P 500 ended down less than 0.1% after giving up a modest early gain. Energy companies that stand to benefit from record electricity prices due to the frigid cold impacting much of the country surged. Marathon Oil and Apache Corp. were among the biggest gainers.

Bond yields, which have been ticking higher on expectations of rising inflation, rose sharply. The yield on the 10-year Treasury rose to 1.29%, the highest level in a year. Bank stocks made broad gains on the higher yields, which allow them to charge more lucrative interest rates on loans. Utilities and real estate stocks, bond proxies that can look less attractive when bond yields rise, were among the biggest decliners.

Despite the mostly tentative day of trading, the Dow Jones Industrial Average inched higher, enough to set another all-time high.

“You have a continuation of some of the trends that we’ve had recently and the kind of bifurcation within the market where the things that are benefiting from higher yields are continuing to do well, and that speaks to an improving economy and more inflation,” said Willie Delwiche, investment strategist at All Star Charts.

The S&P 500 slipped 2.24 points to 3,932.59. The Dow rose 64.35 points, or 0.2%, to 31,522.75. The Nasdaq Composite index fell 47.97 points, or 0.3%, to 14,047.50. The three indexes closed at record highs on Friday. U.S. markets were closed Monday for a holiday.

Stocks of smaller companies fared worse than the broader market. The Russell 2000 index lost 16.47 points, or 0.7%, to 2,272.89.

Optimism that Washington will come through on trillions of dollars of more aid for the economy and encouraging company earnings reports have helped stocks grind higher this month, along with hopes that the coronavirus vaccine rollout will set the stage for stronger economic growth in the second half of this year.

With the second impeachment trial over, investors believe Congress can now make progress toward passing President Biden’s $1.9 trillion stimulus plan. The package would include one-time payments to Americans plus additional assistance to industries, states and jurisdictions impacted by the pandemic.

ASX futures pointing lower​
The Australian share market looks to have run out of steam. According to the latest SPI futures, the ASX 200 is expected to open the day 20 points or 0.3% lower this morning. 

This follows a mixed start to the week on Wall Street following the President’s Day holiday. On closing the Dow Jones is up 0.20%, the S&P 500 was down 0.06%, and the Nasdaq is down 0.34%.










https://apnews.com/article/financia...andemic-asia-99ec626084b8a2b0e7f95758b3052bd2

*Stocks end wobbly day mostly lower; natural gas prices surge*

By DAMIAN J. TROISE and ALEX VEIGA

U.S. stock indexes closed mostly lower Tuesday as losses in health care and technology companies kept gains in energy and other sectors of the market in check.

The S&P 500 ended down less than 0.1% after giving up a modest early gain. Energy companies that stand to benefit from record electricity prices due to the frigid cold impacting much of the country surged. Marathon Oil and Apache Corp. were among the biggest gainers.

Bond yields, which have been ticking higher on expectations of rising inflation, rose sharply. The yield on the 10-year Treasury rose to 1.29%, the highest level in a year. Bank stocks made broad gains on the higher yields, which allow them to charge more lucrative interest rates on loans. Utilities and real estate stocks, bond proxies that can look less attractive when bond yields rise, were among the biggest decliners.

Despite the mostly tentative day of trading, the Dow Jones Industrial Average inched higher, enough to set another all-time high.

“You have a continuation of some of the trends that we’ve had recently and the kind of bifurcation within the market where the things that are benefiting from higher yields are continuing to do well, and that speaks to an improving economy and more inflation,” said Willie Delwiche, investment strategist at All Star Charts.

The S&P 500 slipped 2.24 points to 3,932.59. The Dow rose 64.35 points, or 0.2%, to 31,522.75. The Nasdaq Composite index fell 47.97 points, or 0.3%, to 14,047.50. The three indexes closed at record highs on Friday. U.S. markets were closed Monday for a holiday.

Stocks of smaller companies fared worse than the broader market. The Russell 2000 index lost 16.47 points, or 0.7%, to 2,272.89.

Optimism that Washington will come through on trillions of dollars of more aid for the economy and encouraging company earnings reports have helped stocks grind higher this month, along with hopes that the coronavirus vaccine rollout will set the stage for stronger economic growth in the second half of this year.

With the second impeachment trial over, investors believe Congress can now make progress toward passing President Biden’s $1.9 trillion stimulus plan. The package would include one-time payments to Americans plus additional assistance to industries, states and jurisdictions impacted by the pandemic.

Vaccine distribution is improving and, separately, new case counts are decreasing. That’s injecting more confidence into the prospects for a recovery while a new round of stimulus could help give people and businesses more money and improve consumer spending.

That long view of the economy, which has been bolstered by mostly upbeat economic data and corporate earnings, has been helping push bond yields higher, said Jason Pride, chief investment officer of private wealth at Glenmede.

“It’s reflecting that optimism,” he said. “Every ounce of information we get seems to confirm these story lines.”

Energy prices rose sharply Tuesday as record demand for heating across much of the frigid Midwest and Texas pushed electricity prices higher. The price of natural gas, which is the country’s primary way to produce quick “on-demand” electricity when needed, rose 7.5% to its highest level since November, when hurricane season impacted some natural gas production along the Gulf Coast.

Heating oil prices rose 2.4%, much less than natural gas, since it’s primarily used in the Northeast in older boilers to heat homes. The Northeast hasn’t seen unreasonable temperatures for this time of the year.

Cruise line operators surged for the biggest gains in the S&P 500. Royal Caribbean led the way, climbing 9.7%, and Carnival jumped 9.1%.

The rise in bond yields helped lift shares in financial companies. Bank of America rose 2.7% and JPMorgan Chase rose 2.4%

Traders in cryptocurrencies pushed up the price of Bitcoin above $50,000 for the first time Tuesday. It was up 0.1% to $48,793 in late-afternoon trading, according to the tracking site CoinDesk.

Much of Asia remains closed in observance of the Lunar New Year and European markets closed mostly lower Tuesday.


----------



## bigdog

*Stocks end mostly lower on Wall Street, led by drops in tech*

Stocks mostly pulled back from recent highs Wednesday, weighed down by a slide in technology companies.

The S&P 500 slipped less than 0.1% after giving up an early gain, while the tech-heavy Nasdaq composite gave back 0.6%. Small-company stocks also fell.

The Dow Jones Industrial Average inched higher, good enough for its second straight all-time high. The modest pickup was due in large large part to gains in Verizon Communications and Chevron, which climbed after Warren Buffett’s Berkshire Hathaway said it made major new investments in them in the second half of last year.

Treasury yields, which have been climbing recently on expectations of higher inflation, mostly fell. The yield on the 10-year Treasury note held near its highest level in a year.

Energy prices rose again, adding to a sharp increase the day before due to the frigid weather that’s impacted much of the U.S.

The S&P 500 dipped 1.26 points to 3,931.33. The benchmark index’s winners and losers were roughly evenly split. The Dow added 90.27 points, or 0.3%, to 31,613.02. The Nasdaq fell 82 points to 13,965.49. The Russell 2000 index of smaller companies lost 16.78 points, or 0.7%, to 2,256.11.

Optimism that Washington will come through on trillions of dollars of more aid for the economy and encouraging company earnings reports have helped stocks grind higher this month, along with hopes that the coronavirus vaccine rollout will set the stage for stronger economic growth in the second half of this year.

The Commerce Department said Wednesday that U.S. retail sales soared a seasonally adjusted 5.3% in January from the month before. It was the biggest increase since June and much larger than the 1% rise Wall Street analysts had expected. Meanwhile, the Labor Department said U.S. wholesale prices surged by a record 1.3% in January, led by big gains in health care and energy prices. The bigger-than-expected increase was the largest one-month gain on records that go back to 2009.

The data appeared to reinforce the perception that the economy is seeing more evidence of rising inflation even before the Biden administration has delivered on its proposed $1.9 trillion stimulus package and other spending aimed to get the economy back on solid footing.

The market’s pullback may reflect concern among some on Wall Street that the infusion of more government aid and spending on infrastructure, for example, will “help underpin the economy, but it will also foster quicker growth and perhaps a quicker uptick in inflation,” said Quincy Krosby, chief market strategist at Prudential Financial.

That, she added, could eventually force the Federal Reserve to rethink its current policy of keeping interest rates at ultra-low levels.

ASX futures pointing lower​
It looks set to be another tough day for the Australian share market on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 23 points or 0.35% lower this morning. 

This follows another mixed night on Wall Street, which on closing sees the Dow Jones up 0.29%, the S&P 500 down 0.03%, and the Nasdaq down 0.58%.










https://apnews.com/article/financia...andemic-asia-6a53e087161a291e2fe06a0764183293

*Stocks end mostly lower on Wall Street, led by drops in tech*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks mostly pulled back from recent highs Wednesday, weighed down by a slide in technology companies.

The S&P 500 slipped less than 0.1% after giving up an early gain, while the tech-heavy Nasdaq composite gave back 0.6%. Small-company stocks also fell.

The Dow Jones Industrial Average inched higher, good enough for its second straight all-time high. The modest pickup was due in large large part to gains in Verizon Communications and Chevron, which climbed after Warren Buffett’s Berkshire Hathaway said it made major new investments in them in the second half of last year.

Treasury yields, which have been climbing recently on expectations of higher inflation, mostly fell. The yield on the 10-year Treasury note held near its highest level in a year.

Energy prices rose again, adding to a sharp increase the day before due to the frigid weather that’s impacted much of the U.S.

The S&P 500 dipped 1.26 points to 3,931.33. The benchmark index’s winners and losers were roughly evenly split. The Dow added 90.27 points, or 0.3%, to 31,613.02. The Nasdaq fell 82 points to 13,965.49. The Russell 2000 index of smaller companies lost 16.78 points, or 0.7%, to 2,256.11.

Optimism that Washington will come through on trillions of dollars of more aid for the economy and encouraging company earnings reports have helped stocks grind higher this month, along with hopes that the coronavirus vaccine rollout will set the stage for stronger economic growth in the second half of this year.

The Commerce Department said Wednesday that U.S. retail sales soared a seasonally adjusted 5.3% in January from the month before. It was the biggest increase since June and much larger than the 1% rise Wall Street analysts had expected. Meanwhile, the Labor Department said U.S. wholesale prices surged by a record 1.3% in January, led by big gains in health care and energy prices. The bigger-than-expected increase was the largest one-month gain on records that go back to 2009.

The data appeared to reinforce the perception that the economy is seeing more evidence of rising inflation even before the Biden administration has delivered on its proposed $1.9 trillion stimulus package and other spending aimed to get the economy back on solid footing.

The market’s pullback may reflect concern among some on Wall Street that the infusion of more government aid and spending on infrastructure, for example, will “help underpin the economy, but it will also foster quicker growth and perhaps a quicker uptick in inflation,” said Quincy Krosby, chief market strategist at Prudential Financial.

That, she added, could eventually force the Federal Reserve to rethink its current policy of keeping interest rates at ultra-low levels.

The minutes from the Fed’s January policy meeting, released Wednesday afternoon, showed the central bank believed that the ongoing coronavirus pandemic is still posing considerable risks to the economy. The minutes also reflect Fed officials’ widespread support for keeping interest rates low in order to boost the economy and help millions of Americans regain lost jobs.

Fed Chairman Jerome Powell has cautioned that inflation could accelerate for a time in coming months as the country opens up. But he and many private economists believe this will be only a temporary rise and not a sign that inflation is getting out of control.

The yield on the 10-year Treasury slipped to 1.28% from 1.29% late Tuesday, near its highest level in a year. The rise in bond yields has raised some concerns about the potential for higher inflation, but has also been a sign that the prospect for economic growth remains good.

“I don’t know when inflation is going to increase but the bond market is starting to tell you that the economy is accelerating,” said Andrew Slimmon, portfolio manager at Morgan Stanley Investment Management. “As we’re coming out of COVID-19, as people get vaccinated, consumer confidence is growing at a time when we have a tremendous amount of cash on the sidelines.”

Last month’s jump in retail sales was largely driven by the $600 stimulus checks that went out to most Americans in late December and early January. The data shows that recession-hit Americans are eager to spend cash on necessities, and aren’t saving the funds — which is the goal of stimulus checks.

It potentially means that additional stimulus, likely in the form of $1,400 checks in the $1.9 trillion stimulus plan, will likely provide a necessary boost to the economy.

“We’re keeping this economy humming despite the last several weeks, which have been really challenging,” said Katie Nixon of Northern Trust. “That’s notable, it’s a clue to what will happen if we get an additional stimulus package.”


----------



## bigdog

Stocks Fall as Investors Fret Over Jobless Claims, Inflation​*Stocks posted modest losses on Thursday as investors had little reason to buy stocks with discouraging economic data and a steady rise in bond yields, which has started to raise concerns about inflation.*​
Stocks posted modest losses on Thursday as investors had little reason to buy stocks with discouraging economic data and a steady rise in bond yields, which has start to raise concerns about inflation.

The S&P 500 index dropped 17.36 points, or 0.4%, to 3,913.97. It was the third straight decline for the index. The Dow Jones Industrial Average lost 119.68 points, or 0.4%, closing at 31,493.34 and the technology-heavy Nasdaq Composite fell 100.14 points, or 0.7%, to 13,865.36. The Russell 2000 of small companies fell 1.7%, a significant drop for that index.

Energy prices declined for a second day, as the frigid temperatures that impacted Texas and much of the Midwest moved east. Natural gas prices closed down 4.3%. Energy prices have been volatile the past week as record demand for natural gas and other fossil fuels to warm homes has caused electricity prices to skyrocket. Natural gas is typically used as an “on-demand” fuel source to cover increased electrical needs.

Bond yields continue to climb, as murmurs of inflation have started among investors and as the economy continues to climb out of the hole that was created by the pandemic. The yield on the 10-year U.S. Treasury note was at 1.29%, nearly double where it was last fall. It's now trading at levels seen before the March 2020 pandemic shutdowns.

The climb in bond yields has multiple impacts on the market. When bonds pay higher yields, they are more attractive to a broader group of investors, who tend to move money out of low-performing or low dividend-paying stocks and into the steady income of bonds. It's a push-pull phenomenon that's existed in the market for decades. With bonds no longer paying out rock-bottom yields, the inverse relationship between stocks and bonds could be reasserting itself.

Secondly, the bond market tends to be a good predictor for the economy. The steady rise in yields means investors see the economy getting better but it also suggests they're concerned about inflation. President Joe Biden's plan to spend $1.9 trillion on stimulus could be somewhat inflationary, although in a recession, that is not necessarily a bad thing.

Optimism that rollouts of coronavirus vaccines will set the stage for stronger economic growth in the second half of this year has been pushing the stock market higher. But expectations of a post-pandemic recovery also have resurrected concerns over inflation that could prompt governments and central banks to pull back on stimulus down the road in several months or even a year.

The momentum of the stock market, particularly on Thursday, danced closely with the bond market. When bond yields tipped lower in the afternoon, the stock market recovered more than half of its losses from earlier in the day.

“No argument in the market is more important (right now) and more balanced than whether or not we are due for a large spike in inflation,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance, in a note to clients.

 Energy prices are part of that inflation picture as well. While both natural gas and crude oil prices were down Thursday, energy prices are at levels not seen since before the pandemic. Benchmark U.S. crude oil closed above $60 a barrel, its highest level in a year

ASX 200 expected to tumble​The Australian share market looks set to end the week on a disappointing note. According to the latest SPI futures, the ASX 200 is expected to open the day 34 points or 0.5% lower this morning. 

On closing sees the Dow Jones down 0.38%, the S&P 500 down 0.44%, and the Nasdaq down 0.72%.











https://www.usnews.com/news/busines...s-mostly-lower-after-mixed-day-on-wall-street

Stocks Fall as Investors Fret Over Jobless Claims, Inflation​Stocks posted modest losses on Thursday as investors had little reason to buy stocks with discouraging economic data and a steady rise in bond yields, which has started to raise concerns about inflation.​By Associated Press, Wire Service Content Feb. 18, 2021, at 4:33 p.m.

By KEN SWEET, AP Business Writer

Stocks posted modest losses on Thursday as investors had little reason to buy stocks with discouraging economic data and a steady rise in bond yields, which has start to raise concerns about inflation.

The S&P 500 index dropped 17.36 points, or 0.4%, to 3,913.97. It was the third straight decline for the index. The Dow Jones Industrial Average lost 119.68 points, or 0.4%, closing at 31,493.34 and the technology-heavy Nasdaq Composite fell 100.14 points, or 0.7%, to 13,865.36. The Russell 2000 of small companies fell 1.7%, a significant drop for that index.

Energy prices declined for a second day, as the frigid temperatures that impacted Texas and much of the Midwest moved east. Natural gas prices closed down 4.3%. Energy prices have been volatile the past week as record demand for natural gas and other fossil fuels to warm homes has caused electricity prices to skyrocket. Natural gas is typically used as an “on-demand” fuel source to cover increased electrical needs.

Bond yields continue to climb, as murmurs of inflation have started among investors and as the economy continues to climb out of the hole that was created by the pandemic. The yield on the 10-year U.S. Treasury note was at 1.29%, nearly double where it was last fall. It's now trading at levels seen before the March 2020 pandemic shutdowns.

The climb in bond yields has multiple impacts on the market. When bonds pay higher yields, they are more attractive to a broader group of investors, who tend to move money out of low-performing or low dividend-paying stocks and into the steady income of bonds. It's a push-pull phenomenon that's existed in the market for decades. With bonds no longer paying out rock-bottom yields, the inverse relationship between stocks and bonds could be reasserting itself.

Secondly, the bond market tends to be a good predictor for the economy. The steady rise in yields means investors see the economy getting better but it also suggests they're concerned about inflation. President Joe Biden's plan to spend $1.9 trillion on stimulus could be somewhat inflationary, although in a recession, that is not necessarily a bad thing.

Optimism that rollouts of coronavirus vaccines will set the stage for stronger economic growth in the second half of this year has been pushing the stock market higher. But expectations of a post-pandemic recovery also have resurrected concerns over inflation that could prompt governments and central banks to pull back on stimulus down the road in several months or even a year.

The momentum of the stock market, particularly on Thursday, danced closely with the bond market. When bond yields tipped lower in the afternoon, the stock market recovered more than half of its losses from earlier in the day.

“No argument in the market is more important (right now) and more balanced than whether or not we are due for a large spike in inflation,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance, in a note to clients.

Energy prices are part of that inflation picture as well. While both natural gas and crude oil prices were down Thursday, energy prices are at levels not seen since before the pandemic. Benchmark U.S. crude oil closed above $60 a barrel, its highest level in a year.

A sign of how painful the U.S. economy remains for many Americans, and the argument for why additional stimulus is needed, came in this week's jobless claims report. The government reported that applications for jobless benefits rose last week to 861,000. That’s the latest indication that layoffs remain high as coronavirus shutdowns keep many businesses closed.

Minutes from the Federal Reserve’s January policy meeting released Wednesday showed central bank officials believed the pandemic still poses considerable risks to the economy and still support keeping interest rates low in order to boost the economy and help millions of Americans regain lost jobs.

Fed Chairman Jerome Powell has cautioned that inflation could accelerate for a time in coming months as the country opens up. But he and many private economists believe this will be only a temporary rise and not a sign that inflation is getting out of control.

Shares of Dow component Walmart lost 6.5% after reporting weaker results than analysts were expecting.

Shares of GameStop fell 11.4% on Thursday. Congress is conducting a hearing on the recent volatility of these companies, which have been in a tug-of-war between Wall Street institutional investors betting against the companies and the online retail investors who pushed shares higher.


----------



## bigdog

*Stocks end a wobbly day with mixed results; yields rise*

U.S. stock indexes ended a choppy day of trading little changed Friday, though the S&P 500 finished with its first weekly loss in three weeks.

The benchmark index slipped 0.2%, extending its losing streak to a fourth day, after wavering between small gains and losses for most of the day. A majority of the companies in the S&P 500 rose, but losses in health care, communication services and other stocks outweighed gains by banks and industrial companies, among others.

The Dow Jones Industrial Average and Nasdaq composite closed essentially flat, while another strong showing by smaller companies pushed the Russell 200 index to a 2.2% gain.

This week’s market pullback, the first downbeat week this month, comes as investors remain focused on the future of the COVID-stricken economy and the potential for more stimulus to fix it. They’ve also begun taking into account the likelihood of higher inflation as the economy continues to climb out of its pandemic-induced recession.

Expectations of higher inflation helped drive bond yields sharply higher this week. The yield on the 10-year Treasury note, which is used to set interest rates on mortgages and other consumer loans, rose to 1.34% Friday, though it’s still low by historical standards.

“It’s a gradual release of pent-up demand that we’re beginning to acknowledge is happening through the U.S. economy,” said Bill Northey, senior investment director at U.S. Bank Wealth Management. “And it’s occurring against a backdrop of rising interest rates and inflation.”

The S&P 500 fell 7.26 points to 3,906.71. The index hit an all-time high just a week ago. The Dow closed essentially unchanged, with a gain of 0.98 points, or less than 0.1%, at 31,494.32. The Nasdaq composite added 9.11 points, or 0.1%, to 13,874.46.

The Russell 2000 small-caps index climbed 48.30 points to 2,266.69. The rally in smaller companies is a sign that investors were anticipating more economic growth.

Wall Street continues to look to Washington for direction, as Democrats move forward with their $1.9 trillion stimulus plan to combat the coronavirus. Incremental moves were made this week, with the Biden administration signaling it would drop its call for a $15-an-hour minimum wage in this stimulus plan in order to get support from moderate Democratic senators.

The stimulus plan would include $1,400 checks to most Americans, additional payments for children, and billions of dollars in aid to state and local governments as well as additional aid to businesses impacted by the pandemic.

Much of the recent economic data has shown the U.S. economy could benefit from additional stimulus. Wall Street got a weekly jobless claims report Thursday that showed 861,000 Americans filed for unemployment last week, a rise from the previous week and higher than Wall Street had forecast. The Federal Reserve, in the minutes from its January meeting, also laid out the case for why additional stimulus would be necessary and not cause the economy to overheat.

Of particular note is investors’ concerns about inflation. The yield of the 10-year note has risen 0.14 percentage points this week alone, a significant rise in such a short period of time. Rising bond yields can indicate that investors are hopeful for more economic growth in the future, but it can also signal potential inflation coming down the road.











https://apnews.com/article/joe-bide...yo-hong-kong-3a9a3a121c98d0ac46250e4f57c4cecf

*Stocks end a wobbly day with mixed results; yields rise*

By ALEX VEIGA

U.S. stock indexes ended a choppy day of trading little changed Friday, though the S&P 500 finished with its first weekly loss in three weeks.

The benchmark index slipped 0.2%, extending its losing streak to a fourth day, after wavering between small gains and losses for most of the day. A majority of the companies in the S&P 500 rose, but losses in health care, communication services and other stocks outweighed gains by banks and industrial companies, among others.

The Dow Jones Industrial Average and Nasdaq composite closed essentially flat, while another strong showing by smaller companies pushed the Russell 200 index to a 2.2% gain.

This week’s market pullback, the first downbeat week this month, comes as investors remain focused on the future of the COVID-stricken economy and the potential for more stimulus to fix it. They’ve also begun taking into account the likelihood of higher inflation as the economy continues to climb out of its pandemic-induced recession.

Expectations of higher inflation helped drive bond yields sharply higher this week. The yield on the 10-year Treasury note, which is used to set interest rates on mortgages and other consumer loans, rose to 1.34% Friday, though it’s still low by historical standards.

“It’s a gradual release of pent-up demand that we’re beginning to acknowledge is happening through the U.S. economy,” said Bill Northey, senior investment director at U.S. Bank Wealth Management. “And it’s occurring against a backdrop of rising interest rates and inflation.”

The S&P 500 fell 7.26 points to 3,906.71. The index hit an all-time high just a week ago. The Dow closed essentially unchanged, with a gain of 0.98 points, or less than 0.1%, at 31,494.32. The Nasdaq composite added 9.11 points, or 0.1%, to 13,874.46.

The Russell 2000 small-caps index climbed 48.30 points to 2,266.69. The rally in smaller companies is a sign that investors were anticipating more economic growth.

Wall Street continues to look to Washington for direction, as Democrats move forward with their $1.9 trillion stimulus plan to combat the coronavirus. Incremental moves were made this week, with the Biden administration signaling it would drop its call for a $15-an-hour minimum wage in this stimulus plan in order to get support from moderate Democratic senators.

The stimulus plan would include $1,400 checks to most Americans, additional payments for children, and billions of dollars in aid to state and local governments as well as additional aid to businesses impacted by the pandemic.

Much of the recent economic data has shown the U.S. economy could benefit from additional stimulus. Wall Street got a weekly jobless claims report Thursday that showed 861,000 Americans filed for unemployment last week, a rise from the previous week and higher than Wall Street had forecast. The Federal Reserve, in the minutes from its January meeting, also laid out the case for why additional stimulus would be necessary and not cause the economy to overheat.

Of particular note is investors’ concerns about inflation. The yield of the 10-year note has risen 0.14 percentage points this week alone, a significant rise in such a short period of time. Rising bond yields can indicate that investors are hopeful for more economic growth in the future, but it can also signal potential inflation coming down the road.

In other economic news, sales of previously occupied U.S. homes rose again last month, a sign that the housing market’s strong momentum from 2020 may be carrying over into this year.

Existing U.S. home sales rose 0.6% in January from the previous month to a seasonally-adjusted rate of 6.69 million annualized units, the National Association of Realtors said Friday. Sales rose 23.7% from a year earlier. It was the strongest sales pace since October. Homebuilder shares were broadly higher. Beazer Homes USA led the sector, climbing 4.3%.


----------



## bigdog

ASX futures pointing lower​
The Australian share market looks set to start the week in the red. According to the latest SPI futures, the ASX 200 is expected to open the week 11 points or 0.15% lower this morning. This follows a mixed end to the week on Wall Street on Friday night. That saw the Dow Jones trade flat, the S&P 500 fall 0.2%, and the Nasdaq index up slightly.


----------



## bigdog

*Weakness in Big Tech stocks leaves Wall Street mostly lower*

A sell-off in technology companies led stocks on Wall Street mostly lower Monday, adding to the market’s losses from last week.

The S&P 500 fell 0.8%, extending its losses to a fifth straight day. The benchmark index was just about evenly split between winners and losers, but technology stocks and companies that rely on consumer spending bore the brunt of the selling. Apple fell 3%, Microsoft dropped 2.7%, Tesla slumped 8.5% and Amazon lost 2.1%.

The tech-heavy Nasdaq composite slid 2.5%, while the Dow Jones Industrial Average eked out a tiny gain, as solid gains by companies like Disney, Exxon Mobil and Chevron helped offset the drag by some of the Big Tech companies.

Stocks began shedding some of their gains last week after a strong start to February as rising interest rates and the potential for inflation down the road dampened some of Wall Street’s enthusiasm, though the major stock indexes remain near their all-time highs.

“Equity investors are finally paying attention to the bond market,” said Mike Zigmont, director of trading and research at Harvest Volatility Management. “With yields climbing, there are a lot of jitters in the equity space.”

The S&P 500 fell 30.21 points to 3,876.50. The Dow gained 27.37 points, or 0.1%, to 31,521.69. The Nasdaq lost 341.41 points to 13,533.05. The Russell 2000 index of smaller companies gave up 15.62 points, or 0.7%, to 2,251.07.

Investors remain focused on the future of global economies badly hit by COVID-19 and the potential for more stimulus to fix them. The U.S. House of Representatives is likely to vote on President Joe Biden’s proposed stimulus package by the end of the week. It would include $1,400 checks to most Americans, additional payments for children, and billions of dollars in aid to state and local governments as well as additional aid to businesses impacted by the pandemic.

But the large amount of stimulus being pumped into the economy has given some investors pause as worries of inflation have reentered the market after being nonexistent for more than a decade. Yields on U.S. Treasury bonds and notes have risen in the last several weeks as investors have predicted more inflation would come with the economic recovery.

“There are some risks out there,” said Gary Schlossberg, global strategist at Wells Fargo Investment Institute. “The issue is are we just normalizing back to where we were before the pandemic or are we talking about a sea change.”

The yield on the 10-year Treasury rose to 1.36% from 1.34% late Friday and has been rising steadily throughout the year. The higher yields have helped lift banks, which rely on higher yields to charge more lucrative interest rates on loans. Morgan Stanley rose 1.8%.

Technology stocks accounted for the biggest share of the selling. The sector, which powered much of the market’s gains in 2020, posted its fifth straight loss. That pullback helped drag down the Nasdaq, while the Dow, which isn’t as heavily weighted with tech stocks, rose.

Tech stocks have enjoyed big gains throughout the pandemic, as investors bet that consumers spending more time at home would increasingly rely on mobile devices, PCs, video streaming and other technology products and services. But as the number of new coronavirus cases has declined recently after a sharp spike late last year and more people get vaccinated, investors are beginning to snap up stocks in areas of the market that are expected to do better in a post-pandemic economy.

ASX 200 expected to rise​The Australian share market looks set to push higher on Tuesday despite a mixed start to the week on international markets. According to the latest SPI futures, the ASX 200 is expected to open the day 18 points or 0.3% higher this morning. 

On closing Wall Street, the Dow Jones was up 0.09%, the S&P 500 is down 0.77%, and the Nasdaq index has sunk 2.46%.










https://apnews.com/article/joe-bide...rus-pandemic-d0703f5733c147cf666dd03f5d12a1ec

*Weakness in Big Tech stocks leaves Wall Street mostly lower*

By DAMIAN J. TROISE and ALEX VEIGA

A sell-off in technology companies led stocks on Wall Street mostly lower Monday, adding to the market’s losses from last week.

The S&P 500 fell 0.8%, extending its losses to a fifth straight day. The benchmark index was just about evenly split between winners and losers, but technology stocks and companies that rely on consumer spending bore the brunt of the selling. Apple fell 3%, Microsoft dropped 2.7%, Tesla slumped 8.5% and Amazon lost 2.1%.

The tech-heavy Nasdaq composite slid 2.5%, while the Dow Jones Industrial Average eked out a tiny gain, as solid gains by companies like Disney, Exxon Mobil and Chevron helped offset the drag by some of the Big Tech companies.

Stocks began shedding some of their gains last week after a strong start to February as rising interest rates and the potential for inflation down the road dampened some of Wall Street’s enthusiasm, though the major stock indexes remain near their all-time highs.

“Equity investors are finally paying attention to the bond market,” said Mike Zigmont, director of trading and research at Harvest Volatility Management. “With yields climbing, there are a lot of jitters in the equity space.”

The S&P 500 fell 30.21 points to 3,876.50. The Dow gained 27.37 points, or 0.1%, to 31,521.69. The Nasdaq lost 341.41 points to 13,533.05. The Russell 2000 index of smaller companies gave up 15.62 points, or 0.7%, to 2,251.07.

Investors remain focused on the future of global economies badly hit by COVID-19 and the potential for more stimulus to fix them. The U.S. House of Representatives is likely to vote on President Joe Biden’s proposed stimulus package by the end of the week. It would include $1,400 checks to most Americans, additional payments for children, and billions of dollars in aid to state and local governments as well as additional aid to businesses impacted by the pandemic.

But the large amount of stimulus being pumped into the economy has given some investors pause as worries of inflation have reentered the market after being nonexistent for more than a decade. Yields on U.S. Treasury bonds and notes have risen in the last several weeks as investors have predicted more inflation would come with the economic recovery.

“There are some risks out there,” said Gary Schlossberg, global strategist at Wells Fargo Investment Institute. “The issue is are we just normalizing back to where we were before the pandemic or are we talking about a sea change.”

The yield on the 10-year Treasury rose to 1.36% from 1.34% late Friday and has been rising steadily throughout the year. The higher yields have helped lift banks, which rely on higher yields to charge more lucrative interest rates on loans. Morgan Stanley rose 1.8%.

Technology stocks accounted for the biggest share of the selling. The sector, which powered much of the market’s gains in 2020, posted its fifth straight loss. That pullback helped drag down the Nasdaq, while the Dow, which isn’t as heavily weighted with tech stocks, rose.

Tech stocks have enjoyed big gains throughout the pandemic, as investors bet that consumers spending more time at home would increasingly rely on mobile devices, PCs, video streaming and other technology products and services. But as the number of new coronavirus cases has declined recently after a sharp spike late last year and more people get vaccinated, investors are beginning to snap up stocks in areas of the market that are expected to do better in a post-pandemic economy.

“They parked in technology as a temporary place for their capital while the pandemic raged, and now they’re looking to go back to their pre-COVID asset allocation,” Zigmont said.

Airlines, which have been battered by the virus pandemic, rose after Deutsche Bank upgraded its view on the sector and the potential for recovery as COVID-19 cases fall and vaccination rates increase. American Airlines jumped 9.4%, while Delta rose 4.5% and United Airlines gained 3.5%.

Traders continued to bid up shares in energy companies, which are getting a boost from higher energy prices. The sector have risen four out of the last five days. Exxon Mobil rose 3.7%.

The price of crude U.S. crude oil rose 3.8% to $61.49 a barrel. It’s now up 27% for the year.

Brent crude, the international standard, rose 3.7% to $65.24 a barrel, and is up 26% this year. Goldman Sachs predicted in a research note that the price of Brent crude would reach $70 by the second quarter.

The price of Bitcoin, which moved above $50,000 for the first time early last week, dropped 6.2% to $53,765 Monday, according to the currency brokerage Coinbase. The slide followed a tweet late Friday by Elon Musk in which the Tesla CEO said the price of Bitcoin and another cryptocurrency, Etherium, “seem high.” Earlier this month, Tesla announced that it was buying $1.5 billion in Bitcoin as part of a new investment strategy, and that it would soon be accepting Bitcoin as payment for its cars.


----------



## bigdog

*Late gains reverse most of an early slide on stock market*

A late-afternoon burst of buying on Wall Street helped reverse most of a stock market sell-off Tuesday, nudging the S&P 500 to its first gain after a five-day losing streak.

The benchmark index eked out a 0.1% gain after having been down more than 1.8% earlier. The Nasdaq lost 0.5% as technology stocks fell for a sixth straight day. The tech-heavy index had been down nearly 4%. The Dow Jones Industrial Average, which is less exposed to tech stocks than the two other indexes, managed to rise 0.1%.

Facebook, Disney, Netflix and other communications stocks helped drive the market’s comeback. Financial and energy companies also helped lift the market, outweighing losses in technology and other sectors. Bond yields held near their highest level in a year.

Still, the main reason the market didn’t rack up bigger losses is the wave of selling in Big Tech stocks nearly reversed entirely as traders seized the opportunity to pickup shares in Apple, Microsoft, Amazon and other big gainers over the past year at a more attractive price. Tesla, which joined the S&P 500 at the end of last year, ended down 2.2% after being down as much as 13.4%.

The S&P 500 index rose 4.87 points to 3,881.37. The Dow gained 15.66 points to 31,537.35. The Nasdaq lost 67.85 points to 13,465.20. The indexes were at all-time highs less than two weeks ago.

Smaller company stocks fell more than the broader market. The Russell 2000 small-cap index slid 19.76 points, or 0.9%, to 2,231.21. The index, the biggest gainer so far this year, clawed back from a 3.6% slide.

Since the pandemic began, investors consistently pushed the prices of Big Tech stocks to stratospheric heights, betting that quarantined consumers would do most of their shopping online and spend more on devices and services for entertainment.

The bet mostly paid off, as big tech companies reported big profits last year. But the pandemic may be reaching its end stages, with millions of vaccines being administered each week in the U.S. and across the globe now. It may cause consumers to return to their pre-pandemic habits.

By late afternoon, the tech sell-off nearly reversed itself. Apple slipped 0.1%, Microsoft fell 0.5%, and Amazon gained 0.4%. As traders turned to buying Tesla, rather than selling the stock, that also helped limit the S&P 500′s losses. The electric car maker is the second-most heavily weighted stock in the index’s consumer discretionary sector after Amazon.

Investors remain increasingly focused on a big tick up in bond yields and how it affects stock valuations. The yield on the 10-year Treasury note rose to 1.36%, continuing its quick climb up over the last few weeks.

ASX 200 expected to fall​The Australian share market looks set to give back some of yesterday’s gains on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open 33 points or 0.5% lower this morning. 

On Wall Street closing , the Dow Jones was up 0.05%, the S&P 500 up 0.13%, and the Nasdaq index down 0.5%. 










https://apnews.com/article/technolo...yo-hong-kong-3594290cced3417dc8cde6871cad4583

*Late gains reverse most of an early slide on stock market*

By DAMIAN J. TROISE and ALEX VEIGA

A late-afternoon burst of buying on Wall Street helped reverse most of a stock market sell-off Tuesday, nudging the S&P 500 to its first gain after a five-day losing streak.

The benchmark index eked out a 0.1% gain after having been down more than 1.8% earlier. The Nasdaq lost 0.5% as technology stocks fell for a sixth straight day. The tech-heavy index had been down nearly 4%. The Dow Jones Industrial Average, which is less exposed to tech stocks than the two other indexes, managed to rise 0.1%.

Facebook, Disney, Netflix and other communications stocks helped drive the market’s comeback. Financial and energy companies also helped lift the market, outweighing losses in technology and other sectors. Bond yields held near their highest level in a year.

Still, the main reason the market didn’t rack up bigger losses is the wave of selling in Big Tech stocks nearly reversed entirely as traders seized the opportunity to pickup shares in Apple, Microsoft, Amazon and other big gainers over the past year at a more attractive price. Tesla, which joined the S&P 500 at the end of last year, ended down 2.2% after being down as much as 13.4%.

The S&P 500 index rose 4.87 points to 3,881.37. The Dow gained 15.66 points to 31,537.35. The Nasdaq lost 67.85 points to 13,465.20. The indexes were at all-time highs less than two weeks ago.

Smaller company stocks fell more than the broader market. The Russell 2000 small-cap index slid 19.76 points, or 0.9%, to 2,231.21. The index, the biggest gainer so far this year, clawed back from a 3.6% slide.

Since the pandemic began, investors consistently pushed the prices of Big Tech stocks to stratospheric heights, betting that quarantined consumers would do most of their shopping online and spend more on devices and services for entertainment.

The bet mostly paid off, as big tech companies reported big profits last year. But the pandemic may be reaching its end stages, with millions of vaccines being administered each week in the U.S. and across the globe now. It may cause consumers to return to their pre-pandemic habits.

By late afternoon, the tech sell-off nearly reversed itself. Apple slipped 0.1%, Microsoft fell 0.5%, and Amazon gained 0.4%. As traders turned to buying Tesla, rather than selling the stock, that also helped limit the S&P 500′s losses. The electric car maker is the second-most heavily weighted stock in the index’s consumer discretionary sector after Amazon.

Investors remain increasingly focused on a big tick up in bond yields and how it affects stock valuations. The yield on the 10-year Treasury note rose to 1.36%, continuing its quick climb up over the last few weeks.

When bond yields rise, stock prices tend to be negatively impacted because investors turn an increasingly larger portion of their money toward the higher, steadier stream of income that bonds provide.

“If you have a 10-year (Treasury yield) which returns something, then all of a sudden you get this situation where investors may want more of a risk-free asset and rotate out of equities,” said Sylvia Jablonski, chief investment officer at Defiance ETFs.

While eventually bond yields impact big dividend-paying stocks like consumer staples, utilities and real estate, it does tend to impact stocks that have big valuations like technology stocks much earlier. Tech stocks tend to have higher-than-average price-to-earnings ratios, which values a stock on how much the company earns in in profits each year versus its stock price. The S&P 500 index is currently trading at a price-to-earnings ratio of 32, historically high by any measurement, while the price-to-earnings ratio of a company like Amazon is north of 75.

Jablonski expects the sell-off in technology stocks, which have fallen five days straight, will be short-lived, though she adds that a further increase in the 10-year Treasury yield could be “a different story.”

“The 10-year was sort of the news of the week that took some of the fire out of equities, but I wouldn’t be surprised that investors looking for entry points are going to get back in at these levels,” she said. “Stocks still have a future that looks to me to be a lot brighter than the value investors are going to get if they convert to bonds.”

More broadly, investors remain focused on the future of global economies badly hit by COVID-19 and the potential for more stimulus to fix them. The U.S. House of Representatives is likely to vote on President Joe Biden’s proposed stimulus package by the end of the week. It would include $1,400 checks to most Americans, additional payments for children, and billions of dollars in aid to state and local governments as well as additional aid to businesses impacted by the pandemic.

The large amount of stimulus being pumped into the economy has given some investors pause, reviving worries about inflation that have been nearly nonexistent for more than a decade. That has been a factor in pushing bond yields higher.

“Overall, the view is this rise in yields is just a reflection of confidence in economy and the vaccine rollout,” said Leslie Falconio, senior strategist at UBS Global Wealth Management.

“Right now, this rise in yields, given the fact that financial conditions are still loose, is not a red flag,” she said. “As long as growth supports the rise in interest rates, then that’s not a concern.”

Federal Reserve Chair Jay Powell told Congress Tuesday the Fed didn’t see a need to alter its policy of keeping interest rates ultra-low, noting that the economic recovery “remains uneven and far from complete.”


----------



## bigdog

*Gains for bank stocks help lead major US indexes higher*

Stocks shook off a weak start and closed broadly higher Wednesday, nudging the Dow Jones Industrial Average to another all-time high.

The S&P 500 rose 1.1% after having been down 0.6% in the early going. Gains in financial, technology and industrial stocks powered the comeback. Utilities fell.

U.S. Treasury yields continued to head higher. Bank stocks benefited from the latest upward move in yields, which will allow them to charge higher rates on mortgages and other loans, increasing their profits. JPMorgan Chase rose 1.8% and Bank of America added 2.4%.

The S&P 500′s technology sector accounted for a big share of the rally after declining for six straight days.

“(Stocks) are back in rally mode after spending the past few days trending sideways, digesting early year gains,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. “On balance, we still think the glass is half full and (stocks) trend higher as we look to the end of the year.”

The S&P 500 index rose 44.06 points to 3,925.43. The Dow climbed 424.51 points, or 1.4% to 31,961.86, an all-time high. The Nasdaq Composite added 132.77 points, or 1%, to 13,597.97.

The Russell 2000, which tracks smaller companies, continued to outpace the rest of the market, as it has since the beginning of the year. That’s a sign investors are feeling more confident about economic growth. The index rose 53.07 points, or 2.4%, to 2,284.38.

Investors are still anticipating another round of stimulus to help boost the economy. The U.S. House of Representatives is likely to vote on President Biden’s proposed stimulus package by the end of the week. It would include $1,400 checks to most Americans.

The afternoon rebound followed Federal Reserve Chair Jerome Powell’s appearance before Congress Wednesday. Powell said that the central bank will not begin raising interest rates until it believes it has reached its goals on maximum employment and inflation.

As he did before the Senate Banking Committee on Tuesday, Powell told the House Financial Services Committee that the Fed was in no hurry to raise benchmark short-term interest rates or to begin trimming its $120 billion in monthly bond purchases used to put downward pressure on longer-term rates.

Powell said the Fed did not see any indication that inflation could race out of control. While price increases might accelerate in coming months, Powell said those increases were expected to be temporary and not a sign of long-run inflation threats. Inflation has been nonexistent in the U.S. for the better part of a decade.

ASX 200 expected to rebound​It looks set to be a good day for the Australian share market after a strong night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 54 points or 0.8% higher this morning.

On closing in the United States, the Dow Jones was up 1.35%, the S&P 500 up 1.14%, and the Nasdaq index has risen 0.99%.











https://apnews.com/article/financia...cial-markets-e099520810a0d25f5a614007652b9815

*Gains for bank stocks help lead major US indexes higher*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks shook off a weak start and closed broadly higher Wednesday, nudging the Dow Jones Industrial Average to another all-time high.

The S&P 500 rose 1.1% after having been down 0.6% in the early going. Gains in financial, technology and industrial stocks powered the comeback. Utilities fell.

U.S. Treasury yields continued to head higher. Bank stocks benefited from the latest upward move in yields, which will allow them to charge higher rates on mortgages and other loans, increasing their profits. JPMorgan Chase rose 1.8% and Bank of America added 2.4%.

The S&P 500′s technology sector accounted for a big share of the rally after declining for six straight days.

“(Stocks) are back in rally mode after spending the past few days trending sideways, digesting early year gains,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. “On balance, we still think the glass is half full and (stocks) trend higher as we look to the end of the year.”

The S&P 500 index rose 44.06 points to 3,925.43. The Dow climbed 424.51 points, or 1.4% to 31,961.86, an all-time high. The Nasdaq Composite added 132.77 points, or 1%, to 13,597.97.

The Russell 2000, which tracks smaller companies, continued to outpace the rest of the market, as it has since the beginning of the year. That’s a sign investors are feeling more confident about economic growth. The index rose 53.07 points, or 2.4%, to 2,284.38.

Investors are still anticipating another round of stimulus to help boost the economy. The U.S. House of Representatives is likely to vote on President Biden’s proposed stimulus package by the end of the week. It would include $1,400 checks to most Americans.

The afternoon rebound followed Federal Reserve Chair Jerome Powell’s appearance before Congress Wednesday. Powell said that the central bank will not begin raising interest rates until it believes it has reached its goals on maximum employment and inflation.

As he did before the Senate Banking Committee on Tuesday, Powell told the House Financial Services Committee that the Fed was in no hurry to raise benchmark short-term interest rates or to begin trimming its $120 billion in monthly bond purchases used to put downward pressure on longer-term rates.

Powell said the Fed did not see any indication that inflation could race out of control. While price increases might accelerate in coming months, Powell said those increases were expected to be temporary and not a sign of long-run inflation threats. Inflation has been nonexistent in the U.S. for the better part of a decade.

Treasury yields continued to climb Wednesday, adding to a multi-week increase in rates that are used as benchmarks for many kinds of loans. The yield on the 10-year Treasury note rose to 1.38%, the highest level in just over a year.

The rise in bond yields has several implications for both the stock market and overall economy. Higher yields make stocks with lofty valuations less attractive. Those tend to be technology companies, which are priced typically for growth and not for a steady return of dividends like mature companies like makers of consumer staples, utilities and real estate.

Despite the tech in rally stocks overall, some Big Tech companies fell Wednesday. Apple slid 0.4% and Amazon dropped 1.1%. Those and other Big Tech companies rocketed in 2020 as investors bet that the pandemic would cause Americans to shift shopping habits and buy gadgets to keep themselves occupied in pandemic quarantines.

Boeing jumped 8.1%, the biggest gainer in the Dow Jones Industrial Average, after shedding 2.5% over the prior two days in the wake of an engine malfunction over the weekend in a 777 aircraft operated by United Airlines.

The plane, which took off from Denver and was bound for Honolulu, was forced to make an emergency landing Saturday after a fan blade broke and pieces of the engine’s casing fell on neighborhoods. Federal aviation regulators ordered the grounding of planes with the type of engine on the plane.

GameStop doubled in the last hour of trading in another burst of volatility. The video game retailer’s stock shot up to $91.71. It was the stock’s best day since January 27, when it more than doubled and closed at $347.51. Shares in AMC Entertainment jumped 18.1%. Both stocks have been hyped in recent weeks by people on social media forums at the expense of hedge funds that were betting these stocks would lose value.


----------



## bigdog

*Tech rout pulls Nasdaq down 3.5%, biggest loss since October*

Rising bond yields triggered a broad sell-off on Wall Street Thursday that erased the market’s gains for the week and handed the Nasdaq composite its biggest loss in nearly four months.

The S&P 500 dropped 2.4%, led lower by heavy selling in technology and communications companies. The tech-heavy Nasdaq fell 3.5%, its biggest skid since October.

The sell-off took hold when the yield on the 10-year U.S. Treasury note rose to 1.53%, a level not seen in more than a year and far above the 0.92% level it was trading at only two months ago.

Bond yields have been rising this month, reflecting growing confidence among investors that the economy is on the path to recovery, but also concern that inflation is headed higher. And every tick up in bond yields recently has corresponded with a tick down in stock prices.

Thursday’s move in the 10-year Treasury yield raised the alarm on Wall Street that yields, and the interest rates they influence, will move higher from here.

“The yield on the 10-year note crossed the line in the sand at 1.50%, which from a technical perspective further confirms that higher rates are likely,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 index fell 96.09 points to 3,829.34. The Dow Jones Industrial Average lost 559.85 points, or 1.8%, to 31,402.01. The Nasdaq slid 478.54 points to 13,119.43.

The economy grew at an annual pace of 4.1% in the final three months of 2020, slightly faster than first estimated. The influx of new government stimulus efforts and accelerated vaccine distribution could lift growth in the current quarter, ending in March, to 5% or even higher, economists believe.

“The bond market is reacting to the positive economic growth,” said Brent Schutte, chief investment strategist, Northwestern Mutual Wealth Management Company. “It means there’s some hope on the horizon.”

Technology stocks, which tend to have higher valuations, have been one of the victims of the rise in bond yields. As bond yields climb, more investors shift money into those higher yielding assets, which tends to negatively impact stocks that are priced for growth and not for regular dividend payouts.

Apple, Amazon, Facebook and Microsoft — all companies that pushed the stock market higher last year — fell 2.4% or more.

The market will likely see broader growth as actual economic growth widens to include many of the sectors that have been beaten down during the pandemic, Schutte said.

Smaller company stocks fared worse than the rest of the market. The Russell 2000 index of smaller company stocks lost 84.21 points, or 3.7%, to 2,200.17. The index has been far outpacing larger indexes, a signal that investors expect broader growth to continue. Schutte noted improvements in retail sales, the housing market and consumer confidence.

“All those things are strong right now and the backdrop for further gains is still there,” Schutte said.

ASX 200 to give back its gains​The Australian share market looks set to end the week on a disappointing note after a selloff on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open 70 points or 1% lower this morning. 

On closing, the Dow Jones had fallen 1.75%, the S&P 500 is down 2.45%, and the Nasdaq index has sunk 3.52%. The latter could be bad news for Aussie tech shares today.



















						Asian shares sink after tech rout pulls Nasdaq 3.5% lower
					

BANGKOK (AP) — Asian shares skidded Friday after rising bond yields triggered a broad sell-off on Wall Street that erased the markets gain for the week and handed the Nasdaq composite index its steepest loss since October.  Tokyo, Hong Kong and Sydney all fell 2% or more in early trading Friday...




					apnews.com
				




*Tech rout pulls Nasdaq down 3.5%, biggest loss since October*

By DAMIAN J. TROISE and ALEX VEIGA

Rising bond yields triggered a broad sell-off on Wall Street Thursday that erased the market’s gains for the week and handed the Nasdaq composite its biggest loss in nearly four months.

The S&P 500 dropped 2.4%, led lower by heavy selling in technology and communications companies. The tech-heavy Nasdaq fell 3.5%, its biggest skid since October.

The sell-off took hold when the yield on the 10-year U.S. Treasury note rose to 1.53%, a level not seen in more than a year and far above the 0.92% level it was trading at only two months ago.

Bond yields have been rising this month, reflecting growing confidence among investors that the economy is on the path to recovery, but also concern that inflation is headed higher. And every tick up in bond yields recently has corresponded with a tick down in stock prices.

Thursday’s move in the 10-year Treasury yield raised the alarm on Wall Street that yields, and the interest rates they influence, will move higher from here.

“The yield on the 10-year note crossed the line in the sand at 1.50%, which from a technical perspective further confirms that higher rates are likely,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 index fell 96.09 points to 3,829.34. The Dow Jones Industrial Average lost 559.85 points, or 1.8%, to 31,402.01. The Nasdaq slid 478.54 points to 13,119.43.

The economy grew at an annual pace of 4.1% in the final three months of 2020, slightly faster than first estimated. The influx of new government stimulus efforts and accelerated vaccine distribution could lift growth in the current quarter, ending in March, to 5% or even higher, economists believe.

“The bond market is reacting to the positive economic growth,” said Brent Schutte, chief investment strategist, Northwestern Mutual Wealth Management Company. “It means there’s some hope on the horizon.”

Technology stocks, which tend to have higher valuations, have been one of the victims of the rise in bond yields. As bond yields climb, more investors shift money into those higher yielding assets, which tends to negatively impact stocks that are priced for growth and not for regular dividend payouts.

Apple, Amazon, Facebook and Microsoft — all companies that pushed the stock market higher last year — fell 2.4% or more.

The market will likely see broader growth as actual economic growth widens to include many of the sectors that have been beaten down during the pandemic, Schutte said.

Smaller company stocks fared worse than the rest of the market. The Russell 2000 index of smaller company stocks lost 84.21 points, or 3.7%, to 2,200.17. The index has been far outpacing larger indexes, a signal that investors expect broader growth to continue. Schutte noted improvements in retail sales, the housing market and consumer confidence.

“All those things are strong right now and the backdrop for further gains is still there,” Schutte said.

Global stock markets have soared over the past six months on optimism about coronavirus vaccines and central bank promises of abundant credit to support struggling economies. Those sentiments have faltered due to warnings the rally might be too early and that inflation might rise.

On Wednesday, Federal Reserve Chair Jerome Powell affirmed the Fed’s commitment to low interest rates in a second day of testimony to legislators in Washington.

The central bank earlier indicated it would allow the economy to run hot to make sure a recovery is well-established following its deepest slump since the 1930s. Powell said it might take more than three years to hit the Fed’s target of 2% inflation.

Investors also are looking for Congress to approve President Joe Biden’s proposed economic aid plan. That includes $1,400 checks to most Americans. However, the plan faces staunch opposition from Republicans and is still subject to negotiations. Democrats have chosen to use the legislative process known as reconciliation that would allow them to pass the bill without GOP support.

GameStop jumped 18.6% a day after the video game retailer’s stock more than doubled. The stock has been mostly declining this month after skyrocketing 1,600% in January as a large group of investors on Reddit and other social media sites encouraged each other to drive up the shares at the expense of hedge funds betting the stock would go lower.


----------



## bigdog

*A bumpy day leaves stocks mostly lower; bond yields ease*

A choppy day on Wall Street ended with stocks mostly lower Friday, helping push the S&P 500 to its second straight weekly loss.

Investors continued to watch the bond market, where Treasury yields eased lower, as well as Washington, where Congress is expected to vote on President Joe Biden’s stimulus package.

Losses in banks and health care stocks helped drag the S&P 500 down 0.5%, erasing an early gain. Falling oil prices weighed on energy stocks. Technology and communication services companies, which bore the brunt of the selling a day before, recovered slightly, which helped the tech-heavy Nasdaq composite manage a 0.6% gain.

Bond yields eased off of their multi-week climb. The yield on the 10-year U.S. Treasury fell to 1.42% from 1.51%. late Thursday.

“We still think the uptrend in (stocks) is very much intact and that they’ll outperform bonds in the coming year,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

The S&P 500 index fell 18.19 points to 3,811.15. Despite a two-week slide, the index managed a 2.6% gain for February after a 1.1% loss in January.

The Dow Jones Industrial Average dropped 469.64 points, or 1.5%, to 30,932.37. The Nasdaq gained 72.91 points to 13,192.34. The index still posted its biggest weekly loss since October. The Russell 2000 index of smaller companies eked out a small gain, adding 0.88 points, or less than 0.1%, to 2,201.05.

The indexes remain close to the all-time highs they set earlier this month.

A sell-off on Wall Street Thursday picked up speed when the yield on the 10-year U.S. Treasury note rose above 1.5%, a level not seen in more than a year and far above the 0.92% it was trading at only two months ago. That move raised the alarm that yields, and the interest rates they influence, will move higher from here.

The recent rise in bond yields reflects growing confidence that the economy is on the path to recovery, but also expectations that inflation is headed higher, which might prompt central banks eventually to raise interest rates to cool price increases. Rising yields can make stocks look less attractive relative to bonds, which is why every tick up in yields has corresponded with a tick down in stock prices.

“Investors should look at this as an affirmation that the recovery is taking hold,” Brian Levitt, Global Market Strategist at Invesco.

A choppy day on Wall Street ended with stocks mostly lower Friday, helping push the S&P 500 to its second straight weekly loss.

Investors continued to watch the bond market, where Treasury yields eased lower, as well as Washington, where Congress is expected to vote on President Joe Biden’s stimulus package.

Losses in banks and health care stocks helped drag the S&P 500 down 0.5%, erasing an early gain. Falling oil prices weighed on energy stocks. Technology and communication services companies, which bore the brunt of the selling a day before, recovered slightly, which helped the tech-heavy Nasdaq composite manage a 0.6% gain.

Bond yields eased off of their multi-week climb. The yield on the 10-year U.S. Treasury fell to 1.42% from 1.51%. late Thursday.

“We still think the uptrend in (stocks) is very much intact and that they’ll outperform bonds in the coming year,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

The S&P 500 index fell 18.19 points to 3,811.15. Despite a two-week slide, the index managed a 2.6% gain for February after a 1.1% loss in January.

The Dow Jones Industrial Average dropped 469.64 points, or 1.5%, to 30,932.37. The Nasdaq gained 72.91 points to 13,192.34. The index still posted its biggest weekly loss since October. The Russell 2000 index of smaller companies eked out a small gain, adding 0.88 points, or less than 0.1%, to 2,201.05.

The indexes remain close to the all-time highs they set earlier this month.

A sell-off on Wall Street Thursday picked up speed when the yield on the 10-year U.S. Treasury note rose above 1.5%, a level not seen in more than a year and far above the 0.92% it was trading at only two months ago. That move raised the alarm that yields, and the interest rates they influence, will move higher from here











https://apnews.com/article/technolo...easury-notes-1de82d5a641a195712dfac026e21bee8

*A bumpy day leaves stocks mostly lower; bond yields ease*

By DAMIAN J. TROISE and ALEX VEIGA

A choppy day on Wall Street ended with stocks mostly lower Friday, helping push the S&P 500 to its second straight weekly loss.

Investors continued to watch the bond market, where Treasury yields eased lower, as well as Washington, where Congress is expected to vote on President Joe Biden’s stimulus package.

Losses in banks and health care stocks helped drag the S&P 500 down 0.5%, erasing an early gain. Falling oil prices weighed on energy stocks. Technology and communication services companies, which bore the brunt of the selling a day before, recovered slightly, which helped the tech-heavy Nasdaq composite manage a 0.6% gain.

Bond yields eased off of their multi-week climb. The yield on the 10-year U.S. Treasury fell to 1.42% from 1.51%. late Thursday.

“We still think the uptrend in (stocks) is very much intact and that they’ll outperform bonds in the coming year,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

The S&P 500 index fell 18.19 points to 3,811.15. Despite a two-week slide, the index managed a 2.6% gain for February after a 1.1% loss in January.

The Dow Jones Industrial Average dropped 469.64 points, or 1.5%, to 30,932.37. The Nasdaq gained 72.91 points to 13,192.34. The index still posted its biggest weekly loss since October. The Russell 2000 index of smaller companies eked out a small gain, adding 0.88 points, or less than 0.1%, to 2,201.05.

The indexes remain close to the all-time highs they set earlier this month.

A sell-off on Wall Street Thursday picked up speed when the yield on the 10-year U.S. Treasury note rose above 1.5%, a level not seen in more than a year and far above the 0.92% it was trading at only two months ago. That move raised the alarm that yields, and the interest rates they influence, will move higher from here.

The recent rise in bond yields reflects growing confidence that the economy is on the path to recovery, but also expectations that inflation is headed higher, which might prompt central banks eventually to raise interest rates to cool price increases. Rising yields can make stocks look less attractive relative to bonds, which is why every tick up in yields has corresponded with a tick down in stock prices.

“Investors should look at this as an affirmation that the recovery is taking hold,” Brian Levitt, Global Market Strategist at Invesco.

A choppy day on Wall Street ended with stocks mostly lower Friday, helping push the S&P 500 to its second straight weekly loss.

Investors continued to watch the bond market, where Treasury yields eased lower, as well as Washington, where Congress is expected to vote on President Joe Biden’s stimulus package.

Losses in banks and health care stocks helped drag the S&P 500 down 0.5%, erasing an early gain. Falling oil prices weighed on energy stocks. Technology and communication services companies, which bore the brunt of the selling a day before, recovered slightly, which helped the tech-heavy Nasdaq composite manage a 0.6% gain.

Bond yields eased off of their multi-week climb. The yield on the 10-year U.S. Treasury fell to 1.42% from 1.51%. late Thursday.

“We still think the uptrend in (stocks) is very much intact and that they’ll outperform bonds in the coming year,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

The S&P 500 index fell 18.19 points to 3,811.15. Despite a two-week slide, the index managed a 2.6% gain for February after a 1.1% loss in January.

The Dow Jones Industrial Average dropped 469.64 points, or 1.5%, to 30,932.37. The Nasdaq gained 72.91 points to 13,192.34. The index still posted its biggest weekly loss since October. The Russell 2000 index of smaller companies eked out a small gain, adding 0.88 points, or less than 0.1%, to 2,201.05.

The indexes remain close to the all-time highs they set earlier this month.

A sell-off on Wall Street Thursday picked up speed when the yield on the 10-year U.S. Treasury note rose above 1.5%, a level not seen in more than a year and far above the 0.92% it was trading at only two months ago. That move raised the alarm that yields, and the interest rates they influence, will move higher from here.

The recent rise in bond yields reflects growing confidence that the economy is on the path to recovery, but also expectations that inflation is headed higher, which might prompt central banks eventually to raise interest rates to cool price increases. Rising yields can make stocks look less attractive relative to bonds, which is why every tick up in yields has corresponded with a tick down in stock prices.

“Investors should look at this as an affirmation that the recovery is taking hold,” Brian Levitt, Global Market Strategist at Invesco.

Samana said he still expects interest rates will continue to rise, but at a slower pace.

Technology stocks have been impacted more than the broader market by the rise in bond yields. Tech stocks tend to trade at higher valuations than the overall market. Investors are also betting that with vaccinations, the coronavirus pandemic may be coming to an end which would pivot consumer behavior away from online-only shopping.

In Washington, Democrats in Congress are preparing to move forward with President Biden’s $1.9 trillion stimulus package, with a vote in the House of Representatives planned for Friday. The Senate could vote on the package as early as next week.

The stimulus bill would include yet another round of one-time payments to most Americans, including an expansion of other refundable tax credits like the child tax credit, as well as additional aid to state and local governments to combat the pandemic.

Samana said he still expects interest rates will continue to rise, but at a slower pace.

Technology stocks have been impacted more than the broader market by the rise in bond yields. Tech stocks tend to trade at higher valuations than the overall market. Investors are also betting that with vaccinations, the coronavirus pandemic may be coming to an end which would pivot consumer behavior away from online-only shopping.

In Washington, Democrats in Congress are preparing to move forward with President Biden’s $1.9 trillion stimulus package, with a vote in the House of Representatives planned for Friday. The Senate could vote on the package as early as next week.

The stimulus bill would include yet another round of one-time payments to most Americans, including an expansion of other refundable tax credits like the child tax credit, as well as additional aid to state and local governments to combat the pandemic.


----------



## bigdog

ASX 200 expected to rebound​
The Australian share market looks set to bounce back on Monday. According to the latest SPI futures, the ASX 200 is expected to open the week 29 points or 0.45% higher this morning. 

On Wall Street on Friday night, the Dow Jones fell 1.5%, the S&P 500 dropped 0.48%, and the Nasdaq index was up 0.56%.


----------



## bigdog

*Stocks rally on Wall Street, S&P 500 has best day since June*

Wall Street kicked off March with a broad rally Monday that sent the Dow Jones Industrial Average more than 600 points higher and gave the S&P 500 its best day in nine months.

The S&P 500 climbed 2.4%, clawing back nearly all of its losses from last week. More than 90% of the stocks in the benchmark index rose, with technology, financial and industrial companies powering a big share of the S&P 500′s gains. Small company stocks also had a strong showing as they continue to outpace the broader market this year.

The wave of buying came as investors welcomed a move lower in long-term interest rates as U.S. bond yields declined after surging in recent weeks. The yield on the 10-year Treasury fell to 1.43% after reaching its highest level in more than a year last week.

Higher interest rates can slow the economy and discourage borrowing, so Wall Street gets jittery when there’s a big surge in rates.

“It moved really fast, the interest rate rise, and now it’s sort of leveling out so people are relieved that it’s not continuing to move up at a really fast pace,” said Tom Martin, senior portfolio manager with Globalt Investments.

The S&P 500 rose 90.67 points to 3,901.82, it’s biggest single-day gain since June 5. The Dow gained 603.14 points, or about 2%, to 31,535.51. The tech-heavy Nasdaq composite climbed 396.48 points, or 3%, to 13,588.83.

Smaller company stocks continued to rally, a sign that investors are feeling more confident about the economy’s prospects for growth. The Russell 2000 index picked up 74.27 points, or 3.4%, to 2,275.32.

After a strong start to the month, stocks turned lower in the last couple of weeks of February after a sudden, rapid rise in bond yields fueled concerns about higher inflation. The yield on the 10-year Treasury note climbed as high as 1.5% last week, the highest level in more than a year, before easing Friday.

Bond yields, which can influence rates on mortgages and many other kinds of loans, have been steadily climbing this year, as investors bet that vaccination efforts and more government stimulus will lead to strong economic growth this year. However, along with strong economic growth comes concerns of inflation.

A handful high-level officials with the Federal Reserve will make speeches this week, which will give investors additional information on how concerned the nation’s central bank is about the economy and inflation. Lael Brainard, an advocate for looser monetary policies, will give a monetary policy speech on Tuesday and Fed Chair Jerome Powell will give a speech on Thursday.

ASX 200 expected to rise again​
It looks set to be another positive day for the Australian share market on Tuesday. According to the latest SPI futures, the ASX 200 is poised to open the day 53 points or 0.8% higher this morning. 

This follows a fantastic start to the week on Wall Street, which on closing sees the Dow Jones up 1.95%, the S&P 500 up 2.38%, and the Nasdaq index trading 3.01% higher.











https://apnews.com/article/joe-bide...andemic-asia-9606d330cbfbfec05987a0069d9e317f

*Stocks rally on Wall Street, S&P 500 has best day since June*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street kicked off March with a broad rally Monday that sent the Dow Jones Industrial Average more than 600 points higher and gave the S&P 500 its best day in nine months.

The S&P 500 climbed 2.4%, clawing back nearly all of its losses from last week. More than 90% of the stocks in the benchmark index rose, with technology, financial and industrial companies powering a big share of the S&P 500′s gains. Small company stocks also had a strong showing as they continue to outpace the broader market this year.

The wave of buying came as investors welcomed a move lower in long-term interest rates as U.S. bond yields declined after surging in recent weeks. The yield on the 10-year Treasury fell to 1.43% after reaching its highest level in more than a year last week.

Higher interest rates can slow the economy and discourage borrowing, so Wall Street gets jittery when there’s a big surge in rates.

“It moved really fast, the interest rate rise, and now it’s sort of leveling out so people are relieved that it’s not continuing to move up at a really fast pace,” said Tom Martin, senior portfolio manager with Globalt Investments.

The S&P 500 rose 90.67 points to 3,901.82, it’s biggest single-day gain since June 5. The Dow gained 603.14 points, or about 2%, to 31,535.51. The tech-heavy Nasdaq composite climbed 396.48 points, or 3%, to 13,588.83.

Smaller company stocks continued to rally, a sign that investors are feeling more confident about the economy’s prospects for growth. The Russell 2000 index picked up 74.27 points, or 3.4%, to 2,275.32.

After a strong start to the month, stocks turned lower in the last couple of weeks of February after a sudden, rapid rise in bond yields fueled concerns about higher inflation. The yield on the 10-year Treasury note climbed as high as 1.5% last week, the highest level in more than a year, before easing Friday.

Bond yields, which can influence rates on mortgages and many other kinds of loans, have been steadily climbing this year, as investors bet that vaccination efforts and more government stimulus will lead to strong economic growth this year. However, along with strong economic growth comes concerns of inflation.

A handful high-level officials with the Federal Reserve will make speeches this week, which will give investors additional information on how concerned the nation’s central bank is about the economy and inflation. Lael Brainard, an advocate for looser monetary policies, will give a monetary policy speech on Tuesday and Fed Chair Jerome Powell will give a speech on Thursday.

Investors also had their eye on Washington Monday as a big economic stimulus bill advanced to the Senate. The House of Representatives approved Biden’s $1.9 trillion pandemic relief bill on Friday. The bill infuses cash across the struggling economy to individuals, businesses, schools, states and cities battered by COVID-19.

The stimulus bill would include yet another round of one-time payments to most Americans, including an expansion of other refundable tax credits like the child tax credit, and additional aid to state and local governments to combat the pandemic.

Johnson & Johnson rose 0.5% after the Food and Drug Administration gave approval for the company’s own coronavirus vaccine, one that does not require extensive refrigeration like the ones made by Moderna and Pfizer.

Technology and financial companies made some of the biggest gains. Apple surged 5.4% and Citigroup rose 5.6%. Companies that rely on consumer spending also fared well. Etsy jumped 11% and cosmetics retailer Ulta Beauty gained 4.7%.

Industrial companies, including airlines beaten down by the virus pandemic, also helped boost the broader market. American Airlines rose 1.1%.

Investors will get several big economic reports this week, including February’s jobs report on Friday. On Monday a report on manufacturing came in better than expectations, and new orders also came in better than expected.


----------



## bigdog

*Stocks drift lower on Wall Street; yields continue to ease*

Stocks closed broadly lower on Wall Street Tuesday, giving back some of their big gains from a day earlier.

The S&P 500 fell 0.8% after earlier flipping between small gains and losses. A day before, the benchmark index had leaped 2.4% for its best performance since June. Technology and internet stocks accounted for much of the selling, a reversal from a day earlier.

For weeks, investors have been focused on the bond market, where a swift recent rise in interest rates is threatening one of the main reasons for the stock market’s run to records through the pandemic. Bond yields eased across the board Tuesday, but expectations for stronger economic growth in coming months continue to fuel worries that interest rates will head higher.

Higher rates force investors to rethink how much they’re willing to pay for stocks, making each $1 of profit that companies earn a little less valuable. That’s making Wall Street reconsider the value of technology stocks, in large part because their recent dominance left them looking even pricier than the rest of the market.

“Valuations have just become problematic across certain pockets of the U.S. (stock) market and investors are starting to realize that,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors.

The S&P 500 fell 31.53 points to 3,870.29. The Dow Jones Industrial Average lost 143.99 points, or 0.5%, to 31,391.52. The tech-heavy Nasdaq composite dropped 230.04 points, or 1.7%, to 13,358.79.

Smaller companies fared worse than the rest of the market. The Russell 2000 small-cap index gave up 43.81 points, or 1.9%, to 2,231.51.

Treasury yields have been climbing with expectations for economic growth and inflation, and such a rise makes borrowing more expensive for homebuyers, companies taking out loans and virtually everyone else. That can slow economic growth.

The yield on the 10-year Treasury eased a bit Tuesday, falling to 1.41% from 1.44% late Monday. It’s a reprieve following weeks of relentless rising. The 10-year yield had crossed above 1.50% last week, up from roughly 0.90% at the start of the year, and the zoom higher raised worries that more increases would destabilize the market.

Investors should be prepared for more risks in sectors that have driven the market’s growth through the pandemic because of more inflation, according to Cliff Hodge, chief investment officer of Cornerstone Wealth.

“What’s gotten us here is not likely to get us where we want to be going forward,” he said.

Tech stocks were weak again on Tuesday, with those in the S&P 500 falling 1.6%. But strategists along Wall Street remain fairly optimistic, saying stocks in other areas of the market are likely to rise with expectations for the economy’s improvement later this year. Gains for banks, energy producers and other companies whose profits are closely tied to the economy’s strength can help offset a pullback for tech stocks, which had been driving the market for years, the thinking goes.

ASX 200 futures pointing higher​It looks set to be a better day for the Australian share market on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 15 points or 0.2% higher.
On closing on Wall Street, the Dow Jones was down 0.46%, the S&P 500 is down 0.81%, and the Nasdaq index is 1.69% lower.









https://apnews.com/article/financia...yo-hong-kong-14021e11828575e4bf6a67c92b1249ae

*Stocks drift lower on Wall Street; yields continue to ease*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Stocks closed broadly lower on Wall Street Tuesday, giving back some of their big gains from a day earlier.

The S&P 500 fell 0.8% after earlier flipping between small gains and losses. A day before, the benchmark index had leaped 2.4% for its best performance since June. Technology and internet stocks accounted for much of the selling, a reversal from a day earlier.

For weeks, investors have been focused on the bond market, where a swift recent rise in interest rates is threatening one of the main reasons for the stock market’s run to records through the pandemic. Bond yields eased across the board Tuesday, but expectations for stronger economic growth in coming months continue to fuel worries that interest rates will head higher.

Higher rates force investors to rethink how much they’re willing to pay for stocks, making each $1 of profit that companies earn a little less valuable. That’s making Wall Street reconsider the value of technology stocks, in large part because their recent dominance left them looking even pricier than the rest of the market.

“Valuations have just become problematic across certain pockets of the U.S. (stock) market and investors are starting to realize that,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors.

The S&P 500 fell 31.53 points to 3,870.29. The Dow Jones Industrial Average lost 143.99 points, or 0.5%, to 31,391.52. The tech-heavy Nasdaq composite dropped 230.04 points, or 1.7%, to 13,358.79.

Smaller companies fared worse than the rest of the market. The Russell 2000 small-cap index gave up 43.81 points, or 1.9%, to 2,231.51.

Treasury yields have been climbing with expectations for economic growth and inflation, and such a rise makes borrowing more expensive for homebuyers, companies taking out loans and virtually everyone else. That can slow economic growth.

The yield on the 10-year Treasury eased a bit Tuesday, falling to 1.41% from 1.44% late Monday. It’s a reprieve following weeks of relentless rising. The 10-year yield had crossed above 1.50% last week, up from roughly 0.90% at the start of the year, and the zoom higher raised worries that more increases would destabilize the market.

Investors should be prepared for more risks in sectors that have driven the market’s growth through the pandemic because of more inflation, according to Cliff Hodge, chief investment officer of Cornerstone Wealth.

“What’s gotten us here is not likely to get us where we want to be going forward,” he said.

Tech stocks were weak again on Tuesday, with those in the S&P 500 falling 1.6%. But strategists along Wall Street remain fairly optimistic, saying stocks in other areas of the market are likely to rise with expectations for the economy’s improvement later this year. Gains for banks, energy producers and other companies whose profits are closely tied to the economy’s strength can help offset a pullback for tech stocks, which had been driving the market for years, the thinking goes.

Zoom Video Communications, the company whose software helps students and workers around the world talk with each other from a distance, fell 9% as concerns over slower subscriber growth offset its otherwise solid quarterly financial report and forecast.

Rocket Cos. soared 71.2%, the latest stock to be hyped in the same online forum that fueled the sharp rise in GameStop and other stocks in January. Shares in Rocket were among the most being “shorted” by hedge funds, according to FactSet. When an investor shorts a stock, they’re betting that its price will go lower.

The company, which operates several personal finance brands, including Rocket Mortgage, said last week that its revenue more than doubled in the fourth-quarter, reflecting strong growth across all its businesses.

Tuesday’s modest moves may prove short-lived. Several speeches and data reports this week could offer more light on the direction of interest rates.

On Tuesday, Federal Reserve Governor Lael Brainard sought to calm financial markets by emphasizing that the Fed, while generally optimistic about the economy, is still far from raising interest rates or reducing its $120 billion a month in asset purchases.

She also said that the Fed is closely monitoring the recent rise in the 10-year Treasury yield and an increase in investors’ inflation expectations. But she repeatedly said the economy is 10 million jobs short of its pre-pandemic level and the Fed would keep rates at nearly zero until the job market has fully recovered.

“We’ve got some distance to go to meet our goals,” of higher inflation and lower unemployment, Brainard said.

Federal Reserve Chair Jerome Powell is scheduled to speak on Thursday, and at the end of the week will be the government’s jobs report, which is typically the highlight economic report of every month. It also includes numbers for how much wages are rising across the economy, a key component of inflation.

Worries have been rising in recent months that inflation could be headed higher as COVID-19 vaccines get the economy back to strong growth and Washington gets close to delivering another $1.9 trillion in aid for the economy.


----------



## bigdog

*Technology stocks lead indexes lower as yields resume climb*

Stocks closed lower Wednesday as another rise in bond yields fueled concerns on Wall Street that higher inflation is on the way as the economy picks up.

The S&P 500 dropped 1.3%, shedding an early gain. The pullback is the benchmark index’s second straight loss after clocking its best day in nine months on Monday. Technology companies bore the brunt of the selling, pulling the S&P 500′s tech sector down 2.5%. Microsoft and Apple were both fell more than 2%.

U.S. government bond yields rose after easing a day earlier. The yield on the benchmark 10-year Treasury note climbed to 1.47% from 1.41%.

When bond yields rise quickly, as they have in recent weeks, it forces Wall Street to rethink the value of stocks, making each $1 of profit that companies earn a little less valuable. Technology stocks are most vulnerable to this reassessment, in large part because their recent dominance left them looking even pricier than the rest of the market.

On the flipside, banks benefit when bond yields rise, because it allows them to charge higher rates on mortgages and many other kinds of loans. Financial sector stocks were among the biggest gainers Wednesday. Bank of America and Citigroup added more than 2%.

“The good news to remember is there are other groups taking the baton,” said Ryan Detrick, chief investment strategist for LPL Financial, referring to banks and energy companies benefiting from higher rates, even as tech stocks take a hit.

The S&P 500 dropped 50.57 points to 3,819.72. The Dow Jones Industrial Average slipped 121.43 points, or 0.4%, to 31,270.09. The technology-heavy Nasdaq composite lost 361.04 points, or 2.7%, to 12,997.75.

Traders also sold off smaller company stocks, dragging down the Russell 2000 index 23.72 points, or 1.1%, to 2,207.79.

Wall Street continues to look to Washington, where economic data, comments out of the Federal Reserve and President Joe Biden’s stimulus package remain front and center. Treasury yields hit the psychologically important 1.50% mark last week as investors braced for stronger economic growth but also a possible increase in inflation.

“Some higher inflation at the beginning of a new economic expansion is perfectly normal,” Detrick said.

On Tuesday, Federal Reserve Governor Lael Brainard sought to calm financial markets by emphasizing that the Fed, while generally optimistic about the economy, is still far from raising interest rates or reducing its $120 billion a month in asset purchases.

ASX 200 futures pointing lower​The Australian share market could give back some of its gains on Thursday. According to the latest SPI futures, the ASX 200 is poised to open the day 7 points lower. 

On Wall Street closing; the Dow Jones was down 0.39%, the S&P 500 down 1.31%, and the Nasdaq index tumbled 2.7% lower. Rising bond yields are spooking investors once again.











https://apnews.com/article/joe-bide...-seoul-tokyo-4115f1be0b67672431fded5908d1848d

*Technology stocks lead indexes lower as yields resume climb*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed lower Wednesday as another rise in bond yields fueled concerns on Wall Street that higher inflation is on the way as the economy picks up.

The S&P 500 dropped 1.3%,shedding an early gain. The pullback is the benchmark index’s second straight loss after clocking its best day in nine months on Monday. Technology companies bore the brunt of the selling, pulling the S&P 500′s tech sector down 2.5%. Microsoft and Apple were both fell more than 2%.

U.S. government bond yields rose after easing a day earlier. The yield on the benchmark 10-year Treasury note climbed to 1.47% from 1.41%.

When bond yields rise quickly, as they have in recent weeks, it forces Wall Street to rethink the value of stocks, making each $1 of profit that companies earn a little less valuable. Technology stocks are most vulnerable to this reassessment, in large part because their recent dominance left them looking even pricier than the rest of the market.

On the flipside, banks benefit when bond yields rise, because it allows them to charge higher rates on mortgages and many other kinds of loans. Financial sector stocks were among the biggest gainers Wednesday. Bank of America and Citigroup added more than 2%.

“The good news to remember is there are other groups taking the baton,” said Ryan Detrick, chief investment strategist for LPL Financial, referring to banks and energy companies benefiting from higher rates, even as tech stocks take a hit.

The S&P 500 dropped 50.57 points to 3,819.72. The Dow Jones Industrial Average slipped 121.43 points, or 0.4%, to 31,270.09. The technology-heavy Nasdaq composite lost 361.04 points, or 2.7%, to 12,997.75.

Traders also sold off smaller company stocks, dragging down the Russell 2000 index 23.72 points, or 1.1%, to 2,207.79.

Wall Street continues to look to Washington, where economic data, comments out of the Federal Reserve and President Joe Biden’s stimulus package remain front and center. Treasury yields hit the psychologically important 1.50% mark last week as investors braced for stronger economic growth but also a possible increase in inflation.

“Some higher inflation at the beginning of a new economic expansion is perfectly normal,” Detrick said.

On Tuesday, Federal Reserve Governor Lael Brainard sought to calm financial markets by emphasizing that the Fed, while generally optimistic about the economy, is still far from raising interest rates or reducing its $120 billion a month in asset purchases.

Federal Reserve Chair Jay Powell will speak Thursday on monetary policy. Investors heard from him last week when he testified in front of Congress, but the format — a question-and-answer session with The Wall Street Journal — is likely to be more illuminating than Powell’s calculated answers to politicians.

Investors are looking ahead to the February jobs report on Friday. Economists surveyed by FactSet expect employers created 225,000 jobs last month. The report also includes numbers for how much wages are rising across the economy, a key component of inflation.

Overall, the economic outlook has been brightening in recent weeks following a surprisingly strong retail sales report which showed that $600 stimulus payments approved in late December had translated into a January jump in retail sales that was the strongest since June.

With prospects rising for passaged of President Biden’s $1.9 trillion COVID-19 relief package with $1,400 individual payments and good news on vaccine distribution, private forecasters have been busy revising upward their economic forecasts.

Many believe the economy this year could see a rebound with growth coming in at the strongest pace since 1984. That would mark a significant rebound from last year when the economy contracted by the largest amount since 1946.


----------



## over9k

Yeah, everyone are bricking it about inflation. As I pointed out in the economic implications of coronavirus thread, it's a supply side issue. People are still buying stuff but shipping can't keep up and there's a lot of people off work sick with the virus. Combine that with the semiconductor shortage and you have producers literally unable to produce a lot of stuff (or at least, working at a reduced capacity). 

This will all calm down steadily as more & more people get vaccinated and can go back to work and start making stuff again.


----------



## over9k

Here we go, here's a quick & dirty two minute summary: 

 


This is just chips though, the same problem is occurring much wider scale on all kinds of other goods (commodities in particular) due to the very simple fact that all the people who actually make the stuff are off work sick and/or in quarantine. 

As usual, if you want to know what's going to happen next, ask the virus.


----------



## bigdog

*Tech pulls stocks lower as bond yields continue upward march*

Technology companies led another broad sell-off on Wall Street Thursday as a spike in bond yields put more pressure on the market’s high-flying stocks.

The S&P 500 was fell 1.3%, its third straight loss. The benchmark index, which briefly dipped into the red for the year, is on track for its third consecutive weekly loss. Just four days ago it notched its biggest gain since June. That market rally was driven by what now appears to be a brief pause in the recent, swift rise in bond yields, which in turn pushes up interest rates on loans for consumers and businesses.

The latest losses came as the yield on the 10-year Treasury rose sharply during a question-and-answer session with Federal Reserve Chair Jerome Powell during which Powell said inflation will likely pick up in the coming months. He cautioned that the increase will be temporary, and won’t be enough for the Fed to alter its low-interest rate policies.

The remarks, signaling a wait-and-see stance on the surge in bond yields, failed to ease investors’ concerns that stronger growth will lead to higher inflation, which unchecked can slow economic growth.

“You have a context where rates have moved quite rapidly the last few days, so the market is generally on edge and looking for more reassurance in the short term,” said Lisa Erickson, head of traditional investments at U.S. Bank Wealth Management.

The S&P 500 fell 51.25 points to 3,768.47. The Dow Jones Industrial Average lost 345.95 points, or 1.1%, to 30,924.14. The Nasdaq composite dropped 274.28 points, or 2.1%, to 12,723.47. The pullback knocked the tech-heavy index into the red for the year.

Small-company stocks fell even more. The Russell 2000 index of smaller companies gave up 60.87 points, or 2.8%, to 2,146.92.

As the economy reopens this spring and summer, and vaccines are distributed and the coronavirus retreats, many economists expect a spending boom that will stretch available supplies of goods and services. That will likely push up prices, Powell said Thursday.

Even so, Powell gave no hint that the Fed would take steps to keep longer-term interest rates in check, such as by shifting some of its $80 billion in monthly Treasury purchases to longer-term securities.

“We think our current policy stance is appropriate,” he said.

ASX 200 to fall again​
It looks set to be a disappointing finish to the week for the ASX 200 on Friday. According to the latest SPI futures, the ASX 200 is poised to open the day 9 points or 0.1% lower. 

Wall Street on closing, saw all three major indices deep in the red. The Dow Jones was down 1.11%, the S&P 500 1.34% lower, and the Nasdaq index has fallen 2.11%.










https://apnews.com/article/stocks-trade-mixed-jerome-powell-remarks-eb580eb76f8d45fc3454795f14ce21e3

*Tech pulls stocks lower as bond yields continue upward march*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies led another broad sell-off on Wall Street Thursday as a spike in bond yields put more pressure on the market’s high-flying stocks.

The S&P 500 was fell 1.3%, its third straight loss. The benchmark index, which briefly dipped into the red for the year, is on track for its third consecutive weekly loss. Just four days ago it notched its biggest gain since June. That market rally was driven by what now appears to be a brief pause in the recent, swift rise in bond yields, which in turn pushes up interest rates on loans for consumers and businesses.

The latest losses came as the yield on the 10-year Treasury rose sharply during a question-and-answer session with Federal Reserve Chair Jerome Powell during which Powell said inflation will likely pick up in the coming months. He cautioned that the increase will be temporary, and won’t be enough for the Fed to alter its low-interest rate policies.

The remarks, signaling a wait-and-see stance on the surge in bond yields, failed to ease investors’ concerns that stronger growth will lead to higher inflation, which unchecked can slow economic growth.

“You have a context where rates have moved quite rapidly the last few days, so the market is generally on edge and looking for more reassurance in the short term,” said Lisa Erickson, head of traditional investments at U.S. Bank Wealth Management.

The S&P 500 fell 51.25 points to 3,768.47. The Dow Jones Industrial Average lost 345.95 points, or 1.1%, to 30,924.14. The Nasdaq composite dropped 274.28 points, or 2.1%, to 12,723.47. The pullback knocked the tech-heavy index into the red for the year.

Small-company stocks fell even more. The Russell 2000 index of smaller companies gave up 60.87 points, or 2.8%, to 2,146.92.

As the economy reopens this spring and summer, and vaccines are distributed and the coronavirus retreats, many economists expect a spending boom that will stretch available supplies of goods and services. That will likely push up prices, Powell said Thursday.

Even so, Powell gave no hint that the Fed would take steps to keep longer-term interest rates in check, such as by shifting some of its $80 billion in monthly Treasury purchases to longer-term securities.

“We think our current policy stance is appropriate,” he said.

The yield on the 10-year Treasury note jumped to 1.54% during Powell’s remarks, from 1.47% just before, a significant move. At the beginning of the year the yield was trading at 0.93%.

Investors have been keeping a close eye on the bond market in recent weeks, where yields have been rising along with expectations that the economy, and possibly inflation, could be set to pick up as vaccinations increase and coronavirus restrictions on businesses, travel and schooling begin to lift more.

When yields rise quickly, it forces Wall Street to rethink the value of stocks. Technology stocks are most vulnerable to this reassessment after having soared during the pandemic, making them look pricier than the rest of the market. Bank stocks, in contrast, tend to do better when bond yields are rising because higher yields mean banks can charge higher rates on mortgages and other loans.

“You’re having a fairly healthy and natural consolidation period,” said Mark Hackett, chief of investment research at Nationwide.

Wall Street has been anticipating an improving economy since late last year from the eventual distribution of vaccines, additional stimulus and a steadier reopening, he said.

“The market tends to do better when the good news is further out and struggle more when it is in hand,” he said. “There’s really nothing currently as the next catalyst.”

The price of U.S. crude oil jumped 4.2% after OPEC members agreed to leave most of their existing oil production cuts in place. That helped send energy company stocks broadly higher. Exxon Mobil rose 3.9% and ConocoPhillips rose 3.7%.

The Senate is moving forward with President Joe Biden’s stimulus bill, with most of the negotiations now happening between the more moderate Democrats in the Senate and the White House.

Investors were also looking ahead to the February jobs report on Friday. Economists surveyed by FactSet expect employers created 225,000 jobs last month. The report also includes numbers for how much wages are rising across the economy, a key component of inflation.


----------



## bigdog

*Tech rebound pulls stocks out of a slump and to weekly gain*

Wall Street capped a volatile day of trading Friday with a broad rally that snapped the market’s three-day losing streak.

The S&P 500 gained 2% after clawing back from a 1% skid that followed a 1% surge at the start of trading. Other stock indexes went through similar zigzags, but finished with solid gains.

The late-afternoon turnaround made up for some of the losses that the market began racking up after kicking off the week with the S&P 500′s biggest gain since June. The index, which briefly slipped into the red for the year on Thursday, managed to end the week 0.8% higher, its first weekly gain in three weeks.

The market’s latest gyrations came as investors struggled to figure out what an encouraging report on the economy and the recent march higher for bond yields should mean for the market.

“Ultimately, investors will conclude that they’ll be happy to take the bad with the good,” said Sam Stovall, chief investment strategist at CFRA. “The bad thing being higher interest rates and the good being an improvement in the economy.”

The S&P 500 rose 73.47 points to 3,841.94. The Dow Jones Industrial Average gained 572.16 points, or 1.9%, to 31,496.30. Earlier, it had been down 157 points. The Nasdaq composite climbed 196.68 points, or 1.6%, to 12,920.15. The tech-heavy index earlier flipped between a gain of 1.2% and a loss of 2.6%.

Smaller company stocks outgained the broader market, as they have all year. The Russell 2000 index picked up 45.29 points, or 2.1%, to 2,192.21.

Tech stocks and other high-growth companies in particular have been at the center of the downdraft. They soared more than the rest of the market for much of the pandemic, and in the years preceding it. On Friday, Tesla was the heaviest weight dragging on the S&P 500. The stock fell 3.8% and is now down 15.3% so far this year.

By Friday afternoon, the vast majority of stocks in the S&P 500 had rebounded. Energy producers made some of the largest gains. Diamondback Energy jumped 4.9%, and Chevron gained 4.3% after the price of U.S. crude oil rallied 3.5%.

Tech stocks would likely also see some improvement in their profits, just not to the same degree as companies whose businesses are closely tied to the strength of the economy, such as banks or travel companies.

But Big Tech stocks have grown so big that their movements can mask what’s going on in the broad market. Five Big Tech stocks alone make up more than 21% of the S&P 500 by market value, so weakness for tech can hold back S&P 500 index funds even if many stocks within it are rising.











https://apnews.com/article/technolo...erome-powell-759ee208212c2a65d5f397b8eb499167

*Tech rebound pulls stocks out of a slump and to weekly gain*

By ALEX VEIGA

Wall Street capped a volatile day of trading Friday with a broad rally that snapped the market’s three-day losing streak.

The S&P 500 gained 2% after clawing back from a 1% skid that followed a 1% surge at the start of trading. Other stock indexes went through similar zigzags, but finished with solid gains.

The late-afternoon turnaround made up for some of the losses that the market began racking up after kicking off the week with the S&P 500′s biggest gain since June. The index, which briefly slipped into the red for the year on Thursday, managed to end the week 0.8% higher, its first weekly gain in three weeks.

The market’s latest gyrations came as investors struggled to figure out what an encouraging report on the economy and the recent march higher for bond yields should mean for the market.

“Ultimately, investors will conclude that they’ll be happy to take the bad with the good,” said Sam Stovall, chief investment strategist at CFRA. “The bad thing being higher interest rates and the good being an improvement in the economy.”

The S&P 500 rose 73.47 points to 3,841.94. The Dow Jones Industrial Average gained 572.16 points, or 1.9%, to 31,496.30. Earlier, it had been down 157 points. The Nasdaq composite climbed 196.68 points, or 1.6%, to 12,920.15. The tech-heavy index earlier flipped between a gain of 1.2% and a loss of 2.6%.

Smaller company stocks outgained the broader market, as they have all year. The Russell 2000 index picked up 45.29 points, or 2.1%, to 2,192.21.

The spark for all the uncertainty Friday was a government report that showed employers added hundreds of thousands more jobs last month than economists expected. That’s an encouraging sign for the economy, and it helped lift Treasury yields, with the closely watched 10-year yield momentarily topping 1.60%.

The yield later fell back from that midday spike and wound up at 1.56%, only slightly higher than a day earlier. It remains well above its roughly 0.90% level at the end of last year.

While the jobs report was encouraging in terms of jobs added by the economy, wage growth — an inflation bellwether — rose last month in line with expectations. That may have helped ease some bond investors inflation worries, at least for now.

“That sort implied, ’OK, at least this report doesn’t point to a surge in inflation,” Stovall said.

That view could change next week, when the government issues its latest consumer and wholesale price data.

For about a year, the stock market kept climbing on expectations that an economic recovery was on the way, even when the coronavirus pandemic meant conditions at the time seemed very bleak. Now that the recovery is much closer on the horizon, the market is unsettled because one of the main underpinnings for that incredible run is under threat: ultralow interest rates.

Yields have been marching higher with rising expectations for the economy’s growth and for the inflation that could accompany it. Economists have been upgrading their forecasts for this year as more people get COVID-19 vaccines, businesses reopen and Congress gets closer to pumping another $1.9 trillion of financial aid into the economy.

The worry is that inflation could take off, or something else could happen to jack yields up even further.

It’s the speed at which Treasury yields have climbed that has gotten Wall Street so uncomfortable, more than the actual level, which is still low relative to history.

Higher yields put downward pressure on stocks generally, in part because they can steer away dollars that had been headed for the stock market and into bonds instead. That makes investors less willing to pay as high prices for stocks.

The pressure is most intense on stocks that look the most expensive, relative to their profits, as well as those bid up on expectations of fast growth far into the future. Critics say most stocks across the market look expensive after prices climbed much, much faster than profits, and warnings about a possible bubble have been on the rise.

Tech stocks and other high-growth companies in particular have been at the center of the downdraft. They soared more than the rest of the market for much of the pandemic, and in the years preceding it. On Friday, Tesla was the heaviest weight dragging on the S&P 500. The stock fell 3.8% and is now down 15.3% so far this year.

It’s another reminder of how dominant Big Tech stocks have become in the market. If inflation does ultimately remain under control, as the Federal Reserve’s chair and many economists expect, the general expectation along Wall Street is that most stocks could benefit.

A stronger economy would mean bigger profits for companies, which would allow their prices to hold steady or rise, even if rates are climbing.

By Friday afternoon, the vast majority of stocks in the S&P 500 had rebounded. Energy producers made some of the largest gains. Diamondback Energy jumped 4.9%, and Chevron gained 4.3% after the price of U.S. crude oil rallied 3.5%.

Tech stocks would likely also see some improvement in their profits, just not to the same degree as companies whose businesses are closely tied to the strength of the economy, such as banks or travel companies.

But Big Tech stocks have grown so big that their movements can mask what’s going on in the broad market. Five Big Tech stocks alone make up more than 21% of the S&P 500 by market value, so weakness for tech can hold back S&P 500 index funds even if many stocks within it are rising.

All the big movements in the bond market have increased attention on the Federal Reserve, whose chair said this week that he’s noticed the recent climb in yields. He disappointed some investors when he didn’t offer anything more forceful that could cap the rise. That has anticipation building for the Fed’s next policy meeting, a two-day session that ends March 17, and whether Powell will offer any more guidance on what moves the Fed may make next.


----------



## bigdog

ASX 200 expected to rebound​
The Australian share market looks set to bounce back strongly on Monday after a positive finish to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the week 107 points or 1.6% higher this morning. On Wall Street on Friday night, the Dow Jones climbed 1.85%, the S&P 500 rose 1.95%, and the Nasdaq index pushed 1.55% higher.


----------



## bigdog

*Wall Street finishes mixed as tech slump offsets other gains*

Major U.S. stock indexes closed mostly lower Monday as another rise in bond yields helped set off more heavy selling in technology companies.

The S&P 500 fell 0.5% after having been up 1% earlier. Because of their huge size, drops by Apple, Google’s parent company and other major technology stocks helped drag the S&P 500 into the red, even though more stocks rose than fell in the benchmark index.

The selling, which accelerated toward the end of the day, left the tech-heavy Nasdaq composite down 10.5% from the all-time high it reached on Feb. 12. A drop of 10% or more from a recent peak is known on Wall Street as a “correction.”

Bond yields rose broadly. The yield on the 10-year Treasury note climbed to 1.60% from 1.55% late Friday.

Yields have been marching higher with rising expectations for the economy’s growth and for the inflation that could accompany it. Higher yields put downward pressure on stocks generally, in part because they can steer away dollars that had been headed for the stock market into bonds instead. That makes investors less willing to pay as high prices for stocks, especially those that look the most expensive, such as technology stocks.

Investors can expect more market volatility as long as bond yields keep rising, said Sylvia Jablonski, chief investment officer at Defiance ETFs. “I do think it’s something that’s going to be temporary.”

Still, she said, the pullback in technology stocks offers an attractive entry point for investors to snap up shares in some big names, like Apple and Amazon, at a better price.

“There are some solid buy-on-the-dip opportunities here,” Jablonski said.

The S&P 500 fell 20.59 points to 3,821.35. The Dow Jones Industrial Average rose 306.14 points, or 1%, to 31,802.44. The index briefly climbed more than 650 points. The Nasdaq lost 310.99 points, or 2.4%, to 12,609.16.

Smaller company stocks, which have led the market higher this year, notched more gains. The Russell 2000 index added 10.77 points, or 0.5%, to 2,202.98.

Financial stocks had some of the best gains. Wells Fargo rose 3.3% and Citigroup gained 2.8%.

Trading has been choppy in recent weeks as investors fret over the sudden spike in long-term interest rates in the bond market. The S&P 500 is coming off its first weekly gain in three weeks.

Technology companies have been heading lower as investors start to doubt whether the huge gains they made during the pandemic months can continue if inflation surges. Apple fell 4.2%, Google’s parent Alphabet dropped 4.3% and Facebook slid 3.4%.

ASX 200 expected to rise​The Australian share market looks set to push higher again on Tuesday. According to the latest SPI futures, the ASX 200 is poised to open the day 56 points or 0.8% higher this morning.

Closing on Wall Street sees the Dow Jones up 0.97%,  the S&P 500 down 0.54% and the Nasdaq down 2.41%










https://apnews.com/article/technolo...rus-pandemic-4752f4269ee8158d3639ae6cb8d28913

*Wall Street finishes mixed as tech slump offsets other gains*

By DAMIAN J. TROISE and ALEX VEIGA

Major U.S. stock indexes closed mostly lower Monday as another rise in bond yields helped set off more heavy selling in technology companies.

The S&P 500 fell 0.5% after having been up 1% earlier. Because of their huge size, drops by Apple, Google’s parent company and other major technology stocks helped drag the S&P 500 into the red, even though more stocks rose than fell in the benchmark index.

The selling, which accelerated toward the end of the day, left the tech-heavy Nasdaq composite down 10.5% from the all-time high it reached on Feb. 12. A drop of 10% or more from a recent peak is known on Wall Street as a “correction.”

Bond yields rose broadly. The yield on the 10-year Treasury note climbed to 1.60% from 1.55% late Friday.

Yields have been marching higher with rising expectations for the economy’s growth and for the inflation that could accompany it. Higher yields put downward pressure on stocks generally, in part because they can steer away dollars that had been headed for the stock market into bonds instead. That makes investors less willing to pay as high prices for stocks, especially those that look the most expensive, such as technology stocks.

Investors can expect more market volatility as long as bond yields keep rising, said Sylvia Jablonski, chief investment officer at Defiance ETFs. “I do think it’s something that’s going to be temporary.”

Still, she said, the pullback in technology stocks offers an attractive entry point for investors to snap up shares in some big names, like Apple and Amazon, at a better price.

“There are some solid buy-on-the-dip opportunities here,” Jablonski said.

The S&P 500 fell 20.59 points to 3,821.35. The Dow Jones Industrial Average rose 306.14 points, or 1%, to 31,802.44. The index briefly climbed more than 650 points. The Nasdaq lost 310.99 points, or 2.4%, to 12,609.16.

Smaller company stocks, which have led the market higher this year, notched more gains. The Russell 2000 index added 10.77 points, or 0.5%, to 2,202.98.

Financial stocks had some of the best gains. Wells Fargo rose 3.3% and Citigroup gained 2.8%.

Trading has been choppy in recent weeks as investors fret over the sudden spike in long-term interest rates in the bond market. The S&P 500 is coming off its first weekly gain in three weeks.

Technology companies have been heading lower as investors start to doubt whether the huge gains they made during the pandemic months can continue if inflation surges. Apple fell 4.2%, Google’s parent Alphabet dropped 4.3% and Facebook slid 3.4%.

The latest move higher in bond yields fanned those concerns Monday.

“Interest rates reflect a real economic recovery and they’re not going back down anytime soon,” said Brad McMillan, chief investment officer for Commonwealth Financial Network. “Right now, the market is struggling with that.”

Investors have been betting that trillions of dollars in coming government stimulus will help lift the economy out of its coronavirus-induced malaise. There are also investors who are betting that stimulus and an improving economy will result in some amount of inflation down the road.

The U.S. economic aid package, passed narrowly by the Senate on Saturday, provides direct payments of up to $1,400 for most Americans and extends emergency unemployment benefits. It’s a victory for President Joe Biden and his Democratic allies, and final congressional approval is expected this week.

“That eliminates a major short-term risk and also puts a lot of money into the economy in the short term,” McMillan said.

Rising oil prices are a part of that picture. After plunging with the onset of the pandemic, as demand plummeted, prices have been recovering in the past few months.

Last week, with oil prices rising, some observers were expecting the OPEC cartel and its allies to lift more restrictions and let the oil flow more freely. But OPEC agreed to leave most restrictions in place, despite growing demand.

Benchmark U.S. crude oil for April delivery fell $1.04, or 1.6% to $65.05 a barrel Monday. It’s still up 32.8% so far this year.


----------



## bigdog

*Nasdaq jumps 3.7%, most in nearly a year, as Big Tech surges*

Technology companies powered stocks higher on Wall Street Tuesday, driving the Nasdaq to its biggest gain in nearly a year and more than making up for a sharp skid a day earlier.

The Nasdaq surged 3.7%, led by gains in Big Tech companies such as Apple, Amazon and Facebook. Despite its big day, the index remains 7.2% below its all-time high set Feb. 12. On Monday, it closed 10% below its peak, what is known as a “correction” on Wall Street.

The tech stocks rally, which helped lift the S&P 500 1.4%, followed a decline in bond yields, which have been increasing rapidly in recent weeks, driving up long-term interest rates. The yield on the 10-year Treasury note dropped to 1.54% after trading above 1.60% a day earlier.

Higher bond yields tend to pull money away from high-priced stocks like technology companies, which have been soaring through the pandemic and, as a result, have been beaten down in recent weeks as bond yields have marched higher.

“The yields being down took a little of the pressure off the tech stocks,” said Willie Delwiche, investment strategist at All Star Charts. “There’s still beneath the surface a buy-the-dip mentality and a belief that large-cap growth (stocks) are going to be a persistent leader in the market.”

The S&P 500 rose 54.09 points to 3,875.44. Communication companies and those that rely on consumer spending also helped lift the benchmark index, while financial, energy and industrial stocks lagged the broader market.

The Dow Jones Industrial Average, which is weighted less toward tech than the other two indexes, rose 30.30 points, or 0.1%, to 31,832.74. The Nasdaq gained 464.66 points to 13,073.82.

Smaller companies also had a good day. The Russell 2000 index of small company stocks added 42.07 points, or 1.9%, to 2,245.06. The index is blowing away the rest of the major indexes this year, with a gain of nearly 14%. The S&P 500 is up 3.2%, while the Nasdaq is up 1.4%, reflecting the pullback in tech stocks in recent weeks.

Some of the big technology stocks that fueled the market’s remarkable turnaround in 2020 after its initial plunge as the pandemic upended the global economy have been shedding gains in the weeks since the Nasdaq’s peak on Feb. 12. Apple, for example, was down 14% through the end of last week, while chipmaker Nasdaq was off 22.5% and Tesla was down 31%.

The stocks recouped some of those losses Tuesday. Apple rose 4.1%, Nvdia climbed 8% and Tesla jumped 19.6% for the biggest gain in the S&P 500.

Financial sector stocks, which had benefited from the rise in bond yields, were the biggest decliners Tuesday. Bank of America fell 2.2%, while American Express slid 3.4%. Banks and credit card issuers tend to do well when interest rates are rising because they get to charge higher rates on loans.

Yields have been climbing with rising expectations for growth and the inflation that could follow. Higher yields put downward pressure on stocks generally, in part because they can steer away dollars that might have gone into the stock market into bonds instead. That makes investors less willing to pay such high prices for stocks, especially those that look the most expensive, such as technology stocks.

ASX 200 futures pointing higher​It looks set to be another positive day for the Australian share market on Wednesday after Wall Street rallied higher. According to the latest SPI futures, the ASX 200 is poised to open the day 27 points or 0.40% higher this morning.

On NYSE closing, the Dow Jones was up 0.10%, the S&P 500 is up 1.42%, and the Nasdaq index finished 3.69% higher.

Tech shares to rebound​It looks set to be a very good day for Australian tech shares such as *Afterpay Ltd* (ASX: APT) and *Altium Limited* (ASX: ALU) on Wednesday. This follows a material rebound on the Nasdaq index overnight. On closing the tech-heavy index is up a massive 3.69%. Among the biggest movers has been electric vehicle giant Tesla with a 19.6% gain. A decline in bond yields sent investors rushing back into beaten down tech stocks.










https://apnews.com/article/technolo...andemic-asia-1eb8fda05e82d4f78e16f6741fea1da8

*Nasdaq jumps 3.7%, most in nearly a year, as Big Tech surges*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies powered stocks higher on Wall Street Tuesday, driving the Nasdaq to its biggest gain in nearly a year and more than making up for a sharp skid a day earlier.

The Nasdaq surged 3.7%, led by gains in Big Tech companies such as Apple, Amazon and Facebook. Despite its big day, the index remains 7.2% below its all-time high set Feb. 12. On Monday, it closed 10% below its peak, what is known as a “correction” on Wall Street.

The tech stocks rally, which helped lift the S&P 500 1.4%, followed a decline in bond yields, which have been increasing rapidly in recent weeks, driving up long-term interest rates. The yield on the 10-year Treasury note dropped to 1.54% after trading above 1.60% a day earlier.

Higher bond yields tend to pull money away from high-priced stocks like technology companies, which have been soaring through the pandemic and, as a result, have been beaten down in recent weeks as bond yields have marched higher.

“The yields being down took a little of the pressure off the tech stocks,” said Willie Delwiche, investment strategist at All Star Charts. “There’s still beneath the surface a buy-the-dip mentality and a belief that large-cap growth (stocks) are going to be a persistent leader in the market.”

The S&P 500 rose 54.09 points to 3,875.44. Communication companies and those that rely on consumer spending also helped lift the benchmark index, while financial, energy and industrial stocks lagged the broader market.

The Dow Jones Industrial Average, which is weighted less toward tech than the other two indexes, rose 30.30 points, or 0.1%, to 31,832.74. The Nasdaq gained 464.66 points to 13,073.82.

Smaller companies also had a good day. The Russell 2000 index of small company stocks added 42.07 points, or 1.9%, to 2,245.06. The index is blowing away the rest of the major indexes this year, with a gain of nearly 14%. The S&P 500 is up 3.2%, while the Nasdaq is up 1.4%, reflecting the pullback in tech stocks in recent weeks.

Some of the big technology stocks that fueled the market’s remarkable turnaround in 2020 after its initial plunge as the pandemic upended the global economy have been shedding gains in the weeks since the Nasdaq’s peak on Feb. 12. Apple, for example, was down 14% through the end of last week, while chipmaker Nasdaq was off 22.5% and Tesla was down 31%.

The stocks recouped some of those losses Tuesday. Apple rose 4.1%, Nvdia climbed 8% and Tesla jumped 19.6% for the biggest gain in the S&P 500.

Financial sector stocks, which had benefited from the rise in bond yields, were the biggest decliners Tuesday. Bank of America fell 2.2%, while American Express slid 3.4%. Banks and credit card issuers tend to do well when interest rates are rising because they get to charge higher rates on loans.

Yields have been climbing with rising expectations for growth and the inflation that could follow. Higher yields put downward pressure on stocks generally, in part because they can steer away dollars that might have gone into the stock market into bonds instead. That makes investors less willing to pay such high prices for stocks, especially those that look the most expensive, such as technology stocks.

“We’re going through a regime change and it’s not dissimilar to what we saw last year,” said Kristina Hooper, chief global market strategist at Invesco. “Now we’re seeing the reverse of that and an abrupt move like that creates an environment in which investors start to worry about valuations.”

Striking the “correction” level for the Nasdaq is also important for many investors and traders who use technical indicators to decide when to buy or sell stocks. A correction is typically seen as a healthy moment for any market, giving investors a chance to pause and reallocate their investments without the volatility and stress that a bear market typically can bring.

Bond yields will likely continue rising throughout the year as part of the improving economy.

“It’s not a bad thing, it’s normal and in this environment it’s positive because it’s reflecting a far improved economic outlook,” said Hooper, said.

Investors have been betting that $1.9 trillion in coming government stimulus will help lift the economy out of its coronavirus-induced malaise. There are also investors who are betting that stimulus and an improving economy will result in some inflation down the road.

The U.S. economic aid package, passed narrowly by the Senate on Saturday, provides direct payments of up to $1,400 for most Americans and extends emergency unemployment benefits. It’s a victory for President Joe Biden and his Democratic allies, and final congressional approval is expected this week.

Meanwhile, GameStop jumped another 26.9%, giving the stock a gain of more than fivefold over the past two weeks. It’s now at $246.90, still down from its closing high of $347.51 on Jan. 27. Its roller-coaster ride started early this year, when it was trading below $19 a share before becoming the focus of an army of online investors seeking to drive it higher.


----------



## bigdog

*Stocks mostly climb, except tech, as inflation worries ease*

A benign reading on inflation helped spur stocks on Wall Street broadly higher Wednesday, sending the Dow Jones Industrial Average to an all-time high.

The S&P 500 rose 0.6%, led by gains in energy and financial stocks. Technology companies fell, giving back some of their gains from a big rally a day earlier. The tech-heavy Nasdaq posted a small loss after an early gain faded.

A key measure of inflation at the consumer level came in lower than expected last month, helping to calm investors who had worried that prices could rise too quickly as the economy recovers. Treasury yields fell broadly following the report, including the benchmark 10-year Treasury note, which influences interest rates on mortgages and other consumer loans.

Bond yields rose sharply over the past month due to expectations for faster growth and the inflation that could follow. The fall in bond prices attracted investors reluctant to pay high prices for stocks, especially tech stocks that looked most expensive.

“It’s clear that investors expect there to be a bump in inflation in the short term, but the long-term view is pretty benign,” said Katie Nixon, chief investment officer at Northern Trust Wealth Management.

The S&P 500 rose 23.37 points to 3,898.81. The Dow gained 464.28 points, or 1.5%, to 32,297.02, thanks partly to a 6.4% jump in Boeing. The Dow’s previous all-time high was about two weeks ago.

The Nasdaq slipped 4.99 points, or less than 0.1%, to 13,068.83. The index had been 1.6% higher in the early going. It jumped 3.7% on Tuesday and is now about 7.3% below the all-time high it reached on February 12.

Traders also bid up shares in smaller companies, extending the Russell 2000′s winning streak to a fourth day. The index picked up 40.62 points, or 1.8%, to 2,285.68.

The Labor Department said Wednesday that U.S. consumer prices increased 0.4% in February, the biggest increase in six months. However, a closely watched measure called core inflation, which excludes food and energy prices, posted a much smaller 0.1% gain. The rise for core inflation was also below economists’ expectations.

The latest report on inflation, along with the Federal Reserve promising to keep interest rates low, has helped ease concerns over the recent rise in bond yields, Nixon said.

“Investors are coming around to the view that it’s not a bad backdrop for risk assets,” she said.

Markets have benefited from calmer bond trading the last few days. The yield on the 10-year Treasury note fell to 1.52% on Wednesday. It hit 1.60% late last week, which led to a sell-off in stocks.

Investors are also betting the latest $1.9 trillion in government stimulus will help lift the U.S. economy out of its coronavirus-induced malaise. The House approved the sweeping pandemic relief package over Republican opposition on Wednesday, sending it to President Joe Biden to be signed into law. The package would provide $1,400 checks for most Americans and direct billions of dollars to schools, state and local governments, and businesses.

Banks were among the biggest gainers. JPMorgan rose 2.2%, Bank of America gained 2.9% and Citigroup climbed 3.9%. More than 75% of companies in the S&P 500 notched gains.

Technology stocks lagged the broader market. Apple fell 0.9% and Microsoft slid 0.6%

ASX 200 to bounce back​The Australian share market looks set to bounce back on Thursday after a positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 39 points or 0.6% higher this morning. 

On Wall Street closing, the Dow Jones was up 1.46%, the S&P 500 had risen 0.60%, and the Nasdaq is down 0.04%. Bond yields fell overnight after weak US inflation data.











https://apnews.com/article/financia...ong-shanghai-322b21a31f488cda8eca1c51a855742d

*Stocks mostly climb, except tech, as inflation worries ease*

By DAMIAN J. TROISE and ALEX VEIGA

A benign reading on inflation helped spur stocks on Wall Street broadly higher Wednesday, sending the Dow Jones Industrial Average to an all-time high.

The S&P 500 rose 0.6%, led by gains in energy and financial stocks. Technology companies fell, giving back some of their gains from a big rally a day earlier. The tech-heavy Nasdaq posted a small loss after an early gain faded.

A key measure of inflation at the consumer level came in lower than expected last month, helping to calm investors who had worried that prices could rise too quickly as the economy recovers. Treasury yields fell broadly following the report, including the benchmark 10-year Treasury note, which influences interest rates on mortgages and other consumer loans.

Bond yields rose sharply over the past month due to expectations for faster growth and the inflation that could follow. The fall in bond prices attracted investors reluctant to pay high prices for stocks, especially tech stocks that looked most expensive.

“It’s clear that investors expect there to be a bump in inflation in the short term, but the long-term view is pretty benign,” said Katie Nixon, chief investment officer at Northern Trust Wealth Management.

The S&P 500 rose 23.37 points to 3,898.81. The Dow gained 464.28 points, or 1.5%, to 32,297.02, thanks partly to a 6.4% jump in Boeing. The Dow’s previous all-time high was about two weeks ago.

The Nasdaq slipped 4.99 points, or less than 0.1%, to 13,068.83. The index had been 1.6% higher in the early going. It jumped 3.7% on Tuesday and is now about 7.3% below the all-time high it reached on February 12.

Traders also bid up shares in smaller companies, extending the Russell 2000′s winning streak to a fourth day. The index picked up 40.62 points, or 1.8%, to 2,285.68.

The Labor Department said Wednesday that U.S. consumer prices increased 0.4% in February, the biggest increase in six months. However, a closely watched measure called core inflation, which excludes food and energy prices, posted a much smaller 0.1% gain. The rise for core inflation was also below economists’ expectations.

The latest report on inflation, along with the Federal Reserve promising to keep interest rates low, has helped ease concerns over the recent rise in bond yields, Nixon said.

“Investors are coming around to the view that it’s not a bad backdrop for risk assets,” she said.

Markets have benefited from calmer bond trading the last few days. The yield on the 10-year Treasury note fell to 1.52% on Wednesday. It hit 1.60% late last week, which led to a sell-off in stocks.

Investors are also betting the latest $1.9 trillion in government stimulus will help lift the U.S. economy out of its coronavirus-induced malaise. The House approved the sweeping pandemic relief package over Republican opposition on Wednesday, sending it to President Joe Biden to be signed into law. The package would provide $1,400 checks for most Americans and direct billions of dollars to schools, state and local governments, and businesses.

Banks were among the biggest gainers. JPMorgan rose 2.2%, Bank of America gained 2.9% and Citigroup climbed 3.9%. More than 75% of companies in the S&P 500 notched gains.

Technology stocks lagged the broader market. Apple fell 0.9% and Microsoft slid 0.6%

General Electric fell 5.4% for the biggest decline in the S&P 500 after the company said it would wind down its GE Capital financing business and merge its jet leasing business with Ireland-based AerCap.

Videogame company Roblox surged 54.4% in its stock market debut. The company enables users to play online games created by others on the platform.


----------



## bigdog

*More records for stock indexes as stimulus bill becomes law*

Several major U.S. stock indexes hit all-time highs Thursday, as a recent stretch of volatile trading in the bond market continued to ease, keeping investors in a buying mood.

The S&P 500 index rose 1%, extending its winning streak to a third day as it scored a record high. The Dow Jones Industrial Average and Russell 2000 index of smaller companies also hit all-time highs. The latest gains came as President Joe Biden signed a huge economic relief bill into law.

Technology stocks, which have been hurt this year by rising bond yields, led the market higher, aided by solid gains in communications services companies and those that rely on consumer spending. Banks, utilities and household goods companies fell.

The yield on the 10-year Treasury note inched up to 1.52% from 1.51% late Wednesday. That yield struck the psychologically important 1.60% mark late last week, but has been easing since then.

The recent return of stability to the bond market has been reassuring investors after a sudden spike in long-term interest rates over the past month prompted traders to dump tech shares, which started to look expensive after months of gigantic gains.

“Now that some of the air has come out of the valuations for the (pricier) parts of the market, the stabilization in interest rates is very much being welcomed by investors,” said Elyse Ausenbaugh, global market strategist at J.P. Morgan Private Bank.

The S&P 500 rose 40.53 points to 3,939.34. The benchmark index is on track for its second straight weekly gain. The Dow added 188.57 points, or 0.6%, to 32,485.59, its second all-time high in a row.

The Nasdaq composite gained 329.84 points, or 2.5%, to 13,398.67. The tech-heavy index, which earlier in the week skidded more than 10% below its February peak, has regained some ground, but remains 4.9% below that all-time high.

Traders also bid up shares in smaller stocks. That pushed the Russell 2000 index up 52.86 points, or 2.3%, to 2,338.54.

Up until this week, bond yields have been steadily climbing higher as investors made big bets that trillions of dollars of coming government stimulus will result in strong economic growth later this year and potentially some amount of inflation.

Much of the uncertainty facing the market at the beginning of the year has faded, he said, as vaccine distribution ramped up and businesses reopened. The latest round of stimulus from Washington is also helping to lift uncertainty about the recovery.

President Joe Biden signed into law a sweeping pandemic relief package that would provide $1,400 checks for most Americans and direct billions of dollars to schools, state and local governments, and businesses affected by pandemic-related shutdowns, which began a year ago.

“We’re entering this environment where growth is going to be higher than expected,” said Charlie Ripley, senior investment strategist for Allianz Investment Management. “With higher growth you get higher interest rates.”

Big Tech companies powered the latest tech sector rally. Apple rose 1.7%, Microsoft added 2% and Google’s parent company, Alphabet, gained 3.2%.

ASX 200 to rise​The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 37 points or 0.55% higher this morning. 

This follows a positive night of trade on Wall Street, which on closing sees the Dow Jones up 0.58%, the S&P 500 up 1.04%, and the Nasdaq trading 2.52% higher.










https://apnews.com/article/financia...rus-pandemic-034cd9a93e0603ebb54aed1a055fb2e8

*More records for stock indexes as stimulus bill becomes law*

By DAMIAN J. TROISE and ALEX VEIGA

Several major U.S. stock indexes hit all-time highs Thursday, as a recent stretch of volatile trading in the bond market continued to ease, keeping investors in a buying mood.

The S&P 500 index rose 1%, extending its winning streak to a third day as it scored a record high. The Dow Jones Industrial Average and Russell 2000 index of smaller companies also hit all-time highs. The latest gains came as President Joe Biden signed a huge economic relief bill into law.

Technology stocks, which have been hurt this year by rising bond yields, led the market higher, aided by solid gains in communications services companies and those that rely on consumer spending. Banks, utilities and household goods companies fell.

The yield on the 10-year Treasury note inched up to 1.52% from 1.51% late Wednesday. That yield struck the psychologically important 1.60% mark late last week, but has been easing since then.

The recent return of stability to the bond market has been reassuring investors after a sudden spike in long-term interest rates over the past month prompted traders to dump tech shares, which started to look expensive after months of gigantic gains.

“Now that some of the air has come out of the valuations for the (pricier) parts of the market, the stabilization in interest rates is very much being welcomed by investors,” said Elyse Ausenbaugh, global market strategist at J.P. Morgan Private Bank.

The S&P 500 rose 40.53 points to 3,939.34. The benchmark index is on track for its second straight weekly gain. The Dow added 188.57 points, or 0.6%, to 32,485.59, its second all-time high in a row.

The Nasdaq composite gained 329.84 points, or 2.5%, to 13,398.67. The tech-heavy index, which earlier in the week skidded more than 10% below its February peak, has regained some ground, but remains 4.9% below that all-time high.

Traders also bid up shares in smaller stocks. That pushed the Russell 2000 index up 52.86 points, or 2.3%, to 2,338.54.

Up until this week, bond yields have been steadily climbing higher as investors made big bets that trillions of dollars of coming government stimulus will result in strong economic growth later this year and potentially some amount of inflation.

Much of the uncertainty facing the market at the beginning of the year has faded, he said, as vaccine distribution ramped up and businesses reopened. The latest round of stimulus from Washington is also helping to lift uncertainty about the recovery.

President Joe Biden signed into law a sweeping pandemic relief package that would provide $1,400 checks for most Americans and direct billions of dollars to schools, state and local governments, and businesses affected by pandemic-related shutdowns, which began a year ago.

“We’re entering this environment where growth is going to be higher than expected,” said Charlie Ripley, senior investment strategist for Allianz Investment Management. “With higher growth you get higher interest rates.”

Big Tech companies powered the latest tech sector rally. Apple rose 1.7%, Microsoft added 2% and Google’s parent company, Alphabet, gained 3.2%.

The biggest IPO in years rolled out Thursday on the New York Stock Exchange where Coupang, the South Korean equivalent of Amazon in the U.S., or Alibaba in China, began trading under the ticker “CPNG.” The stock soared 40.7%. It’s actually the largest initial public offering from an Asian company since Alibaba went public about seven years ago. And it’s the biggest in the U.S. since Uber raised more than $8 billion in 2019.

General Electric fell 7.4% for the biggest slide in the S&P 500 for the second straight day. The industrial titan announced it would wind down its GE Capital business and merge its jet leasing business with Ireland’s AerCap. GE is in the midst of a multi-year turnaround plan, but investors have been concerned GE has been selling off too many of its more profitable assets.

The price of U.S. crude oil rose 2.5% and lifted energy company stocks. Occidental Petroleum jumped 5.5% and Hess rose 3.2%.


----------



## bigdog

*Stocks mostly shake off a weak start, edge to more records*

A late-afternoon burst of buying helped nudge several U.S. stock indexes to all-time highs Friday, despite a pullback in Big Tech companies as bond yields headed higher.

The S&P 500 rose 0.1% after having been in the red for most of the day. The benchmark index also notched its second straight weekly gain. Financial and industrial companies led a broad rally, outweighing the slide in technology and communications stocks.

The Dow Jones Industrial Average and Russell 2000 index of smaller company stocks also hit all-time highs for the second day in a row. The tech-heavy Nasdaq composite fell, shedding some of its gains from a day earlier.

The bond market was the dominant force in pulling tech stocks mostly downward, because as yields push interest rates higher, they make high-flying stocks look expensive. After remaining stable for most of the week, the yield on the 10-year Treasury note jumped to 1.62% from 1.52% a day earlier. Investors had sold off stocks late last week after that yield crossed above the 1.60% mark.

“Bond investors are trying to determine how much future growth is in the economy and what that means for inflation,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. “It could be over the course of this year or the next couple in terms of trying to find the right level.”

The S&P 500 rose 4 points to 3,943.34, extending its winning streak to a fourth straight day. The Dow added 293.05 points, or 0.9%, to 32,778.64, lifted by industrial stocks like Boeing and Caterpillar. The Nasdaq dropped 78.81 points, or 0.6%, to 13,319.86.

The Russell 2000 picked up 14.25 points, or 0.6%, to 2,352.79 and ended the week 7.3% higher. That blows away the S&P 500′s 2.6% gain for the week.

The stock indexes were mostly lower for much of the day as technology stocks, which had spent most of the week holding steady or climbing, fell broadly as bond yields rose.

Apple fell 0.8%, Facebook dropped 2%, Google’s parent company slid 2.4% and Microsoft lost 0.6%. These giant tech companies soared last year as investors bet that pandemic-quarantined Americans would spend even more time online. But as the pandemic eases this year, and bond yields rise, more expensive stocks such as these have struggled.

The increase in bond yields comes as President Joe Biden signed into law the $1.9 trillion stimulus plan, which will include $1,400 checks for most Americans as well as additional payments for those with children or those who collected unemployment benefits last year. President Biden also laid out a plan, in a primetime speech Thursday, to expand vaccine eligibility to all Americans by May 1.

These moves have given investors confidence that the U.S. and global economy will likely experience a strong recovery in the second half of the year as well as potentially increase the rate of inflation.

 Wall Street got another sign Friday that inflation is creeping higher. The Labor Department said its producer price index, which measures inflation before it reaches consumers, rose by 0.5% last month following a record jump of 1.3% the month before. Over the past year, wholesale prices are up 2.8%, the largest 12-month gain at the wholesale level in more than two years











https://apnews.com/article/joe-bide...rus-pandemic-0011860a0c6d212413a85356621be91d

*Stocks mostly shake off a weak start, edge to more records*

By DAMIAN J. TROISE and ALEX VEIGA

A late-afternoon burst of buying helped nudge several U.S. stock indexes to all-time highs Friday, despite a pullback in Big Tech companies as bond yields headed higher.

The S&P 500 rose 0.1% after having been in the red for most of the day. The benchmark index also notched its second straight weekly gain. Financial and industrial companies led a broad rally, outweighing the slide in technology and communications stocks.

The Dow Jones Industrial Average and Russell 2000 index of smaller company stocks also hit all-time highs for the second day in a row. The tech-heavy Nasdaq composite fell, shedding some of its gains from a day earlier.

The bond market was the dominant force in pulling tech stocks mostly downward, because as yields push interest rates higher, they make high-flying stocks look expensive. After remaining stable for most of the week, the yield on the 10-year Treasury note jumped to 1.62% from 1.52% a day earlier. Investors had sold off stocks late last week after that yield crossed above the 1.60% mark.

“Bond investors are trying to determine how much future growth is in the economy and what that means for inflation,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. “It could be over the course of this year or the next couple in terms of trying to find the right level.”

The S&P 500 rose 4 points to 3,943.34, extending its winning streak to a fourth straight day. The Dow added 293.05 points, or 0.9%, to 32,778.64, lifted by industrial stocks like Boeing and Caterpillar. The Nasdaq dropped 78.81 points, or 0.6%, to 13,319.86.

The Russell 2000 picked up 14.25 points, or 0.6%, to 2,352.79 and ended the week 7.3% higher. That blows away the S&P 500′s 2.6% gain for the week.

The stock indexes were mostly lower for much of the day as technology stocks, which had spent most of the week holding steady or climbing, fell broadly as bond yields rose.

Apple fell 0.8%, Facebook dropped 2%, Google’s parent company slid 2.4% and Microsoft lost 0.6%. These giant tech companies soared last year as investors bet that pandemic-quarantined Americans would spend even more time online. But as the pandemic eases this year, and bond yields rise, more expensive stocks such as these have struggled.

The increase in bond yields comes as President Joe Biden signed into law the $1.9 trillion stimulus plan, which will include $1,400 checks for most Americans as well as additional payments for those with children or those who collected unemployment benefits last year. President Biden also laid out a plan, in a primetime speech Thursday, to expand vaccine eligibility to all Americans by May 1.

These moves have given investors confidence that the U.S. and global economy will likely experience a strong recovery in the second half of the year as well as potentially increase the rate of inflation.

Wall Street got another sign Friday that inflation is creeping higher. The Labor Department said its producer price index, which measures inflation before it reaches consumers, rose by 0.5% last month following a record jump of 1.3% the month before. Over the past year, wholesale prices are up 2.8%, the largest 12-month gain at the wholesale level in more than two years.

Some economists fear that inflation, which has been dormant over the past decade, could begin to rise under the extra demand generated by the government’s new $1.9 trillion stimulus package signed into law Thursday. Others disagree, pointing out that there are 9.5 million fewer jobs in the American economy than there were before the pandemic hit a year ago, and argue that unemployment will keep a lid on inflation.

“The fact remains that there is a tug-of-war regarding the inflation question,” said Quincy Krosby, chief market strategist at Prudential Financial. “And that is, whether or not the inflationary pressure that some in the market expect, whether or not it’s temporary or transient as the Fed characterizes it, or a prelude to a higher inflationary environment as the U.S. economy normalizes.”

Meanwhile, shares of big banks have climbed. Banks are often a proxy for a broader economy, as the ability for borrowers to repay debts matters to banks’ balance sheets and higher interest rates means they can charge more to borrowers. The KBW Bank Index of the 24 largest banks rose 1.7% and is up 26% this year.

Investors got another piece of data that showed that American consumers are feeling increasingly confident about returning to normal, and hopefully returning to their old spending habits. The University of Michigan consumer sentiment index for March came in at a reading of 83.0, well above the reading of 80.0 that economists had expected.


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## bigdog

ASX 200 expected to edge lower​
The Australian share market looks set to edge lower this morning following a mixed finish to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the week 3 points lower this morning. On Wall Street on Friday night, the Dow Jones climbed 0.9%, the S&P 500 rose 0.1%, and the Nasdaq index dropped 0.59%.


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## bigdog

*Stocks extend gains for fifth day, led by technology shares *

By DAMIAN J. TROISE and ALEX VEIGA

Stocks shook off an early stumble and closed broadly higher Monday, nudging some of the major U.S. indexes to more all-time highs as the market added to its recent string of gains.

The S&P 500 rose 0.7% after having been down 0.5% in the early going, extending its winning streak to a fifth day. Technology stocks, airlines, cruise operators and other companies that rely on consumer spending helped lift the market. Banks and energy stocks were the only laggards.

Wall Street continues to eye the bond market, where yields pulled back a bit from Friday’s sharp increase. Investors are also focused on the recovery of the U.S. and global economies from the coronavirus pandemic. The $1.9 trillion aid package for the U.S. economy has lifted investors’ confidence in a strong recovery from the pandemic in the second half of the year, but also raised concerns about a potential jump in inflation.

President Joe Biden’s pledge to expand vaccine eligibility to all Americans by May 1 should also translate into faster economic growth.

Rising interest rates continue to be a key concern for investors following the sudden jump over the last month in bond yields. Rates are not yet at a concerning level, and both the markets and economy can easily digest them, said Yung-Yu Ma, chief investment strategist at BMO Wealth Management.

“The question ultimately becomes how well markets can digest and stay the course on the idea that these increases are temporary,” he said. “As well as coming to terms with the idea that temporary might be three or four quarters.”

The S&P 500 rose 25.60 points to 3,368.94. The Dow Jones Industrial Average gained 174.82 points, or 0.5%, to 32,953.46. Both indexes hit all-time highs, eclipsing records set on Friday.

The tech-heavy Nasdaq Composite added 139.84 points, or 1.1%, to 13,459.71, while the Russell 2000 index of smaller companies rose 7.38 points, or 0.3%, to 2,360.17. That gain was enough for an all-time high.

Bond yields ticked mildly lower on Monday, with the 10-year U.S. Treasury note falling to 1.61% from 1.62% on Friday. The mild drop in yields was affecting bank stocks the most, where investors have placed big bets that higher yields would translate into banks charging borrowers higher rates. Bank of America fell 0.5%, Wells Fargo dropped 0.7% and Citigroup lost 1.3%.

Technology stocks, which have been hurt by the rise in bond yields, resumed climbing. Apple rose 2.4%, while Tesla Motor Co. gained 2%. The bond market has pulled tech stocks mostly lower this year, because as yields push interest rates higher, they make high-flying stocks look expensive.

ASX 200 expected to rise​It looks like it could be a similarly subdued day for the Australian share market on Tuesday. According to the latest SPI futures, the ASX 200 is poised to open the day 5 points higher this morning. 

This follows a positive start to the week on Wall Street, which on closing sees the Dow Jones up 0.53%, the S&P 500 up 0.65%, and the Nasdaq trading 1.05% higher.










https://apnews.com/article/financia...rus-pandemic-ff6bc081afc155e6e681361a99720bd9

*Stocks extend gains for fifth day, led by technology shares *

By DAMIAN J. TROISE and ALEX VEIGA

Stocks shook off an early stumble and closed broadly higher Monday, nudging some of the major U.S. indexes to more all-time highs as the market added to its recent string of gains.

The S&P 500 rose 0.7% after having been down 0.5% in the early going, extending its winning streak to a fifth day. Technology stocks, airlines, cruise operators and other companies that rely on consumer spending helped lift the market. Banks and energy stocks were the only laggards.

Wall Street continues to eye the bond market, where yields pulled back a bit from Friday’s sharp increase. Investors are also focused on the recovery of the U.S. and global economies from the coronavirus pandemic. The $1.9 trillion aid package for the U.S. economy has lifted investors’ confidence in a strong recovery from the pandemic in the second half of the year, but also raised concerns about a potential jump in inflation.

President Joe Biden’s pledge to expand vaccine eligibility to all Americans by May 1 should also translate into faster economic growth.

Rising interest rates continue to be a key concern for investors following the sudden jump over the last month in bond yields. Rates are not yet at a concerning level, and both the markets and economy can easily digest them, said Yung-Yu Ma, chief investment strategist at BMO Wealth Management.

“The question ultimately becomes how well markets can digest and stay the course on the idea that these increases are temporary,” he said. “As well as coming to terms with the idea that temporary might be three or four quarters.”

The S&P 500 rose 25.60 points to 3,368.94. The Dow Jones Industrial Average gained 174.82 points, or 0.5%, to 32,953.46. Both indexes hit all-time highs, eclipsing records set on Friday.

The tech-heavy Nasdaq Composite added 139.84 points, or 1.1%, to 13,459.71, while the Russell 2000 index of smaller companies rose 7.38 points, or 0.3%, to 2,360.17. That gain was enough for an all-time high.

Bond yields ticked mildly lower on Monday, with the 10-year U.S. Treasury note falling to 1.61% from 1.62% on Friday. The mild drop in yields was affecting bank stocks the most, where investors have placed big bets that higher yields would translate into banks charging borrowers higher rates. Bank of America fell 0.5%, Wells Fargo dropped 0.7% and Citigroup lost 1.3%.

Technology stocks, which have been hurt by the rise in bond yields, resumed climbing. Apple rose 2.4%, while Tesla Motor Co. gained 2%. The bond market has pulled tech stocks mostly lower this year, because as yields push interest rates higher, they make high-flying stocks look expensive.

Some economists fear that inflation, which has been dormant over the past decade, could accelerate under the extra demand generated by a surge in government spending. Others disagree, pointing out that there are 9.5 million fewer jobs in the American economy than there were before the pandemic hit, and argue that unemployment will keep a lid on inflation.

United Airlines surged 8.3% for the biggest gain in the S&P 500, while American Airlines rose 7.7%. Delta Air Lines gained 2.3% and JetBlue Airways climbed 5.9%. The rally in airline stocks came as the Transportation Security Administration screened more than 1.3 million people both Friday and Sunday, the most since the coronavirus outbreak devastated travel a year ago.

Cruise operators, whose shares have been pummeled over the past year, also had a good day. Carnival gained 4.7%, while Royal Caribbean climbed 4.8% and Norwegian Cruise Line added 2.7%.

Markets got a mixed message from China. It has led the global recovery, reopening earlier than other countries from coronavirus shutdowns following the disease’s emergence in the central city of Wuhan in early 2020.

Retail sales there jumped nearly 36% year-on-year in January-February from a year earlier. The outsized gain benefited from a flattering comparison with the low level of activity during last year’s shutdowns, ING said. Meanwhile, China’s jobless rate rose to 5.5% from 5.2% a year earlier, possibly affected by flare ups of coronavirus in some areas, analysts said.

The Shanghai Stock Exchange fell 1%, while other markets in Asia were mixed.


----------



## bigdog

US Stocks Step Back From All-Time Highs in Choppy Trading​*Stock indexes are closing mostly lower Tuesday, shedding some of their recent gains after coming within striking distance of matching Wall Street's longest winning streak of the year.*​
Wall Street capped a choppy day of trading Tuesday with stock indexes closing mostly lower after coming within striking distance of matching the market's longest winning streak of the year.

The S&P 500 fell 0.2% after wobbling between small gains and losses most of the day. The modest pullback snapped the benchmark index's five-day winning streak. A sixth-day of gains would have matched the S&P 500's longest winning streak so far this year, though the index remains near its all-time high.

Losses by banks, industrial stocks and companies that rely on consumer spending, including cruise line operators, pulled the market lower, outweighing gains by Big Tech and communication services stocks. Energy stocks, the S&P 500's biggest gainers so far this year, took the brunt of the losses as crude oil prices fell.

Stocks' uneven finish came as investors continue to closely watch the bond market, with even minute changes in bond yields causing stocks to fluctuate. Bond yields also wavered Tuesday. The 10-year Treasury yield, which influences interest rates on mortgages and other consumer loans, inched up to 1.62%.

“The 10-year is remaining above 1.60%,” said Sam Stovall, chief investment strategist at CFRA. “So, investors are in a sense girding themselves for higher inflation.”

The S&P 500 dropped 6.23 points to 3,962.71. Earlier, it had been up 0.3%. The Dow Jones Industrial Average lost 127.51 points, or 0.4%, to 32,825.95. The Nasdaq bucked the trend, benefiting from the rally in technology stocks. The tech-heavy index gained 11.86 points, or 0.1%, to 13,471.57.

The big technology names that rose sharply in 2020 were among the gainers Tuesday. Apple rose 1.6%, Google’s parent company added 1.4% and Facebook rose 2%. Tech stocks have moved in tandem with the bond market, so as some bond yields ticked lower on Tuesday, it moved technology stocks in the opposite direction.

Small company stocks lagged the broader market. The Russell 2000 index fell 40.65 points, or 1.7%, to 2,319.52.

Investors weighed new economic data Tuesday that showed Americans cut back on spending last month, partly due to bad weather in parts of the country that kept shoppers away from stores, and partly due to their December and January stimulus payments running out.

Retail sales fell a seasonally adjusted 3% in February from the month before, the U.S. Commerce Department said Tuesday. February's drop followed soaring sales in January as people spent $600 stimulus checks sent at the end of last year. In fact, the Commerce Department revised its January number upwards to 7.6% from its previously reported rise of 5.3%.

Meanwhile severe winter weather pushed industrial production down a sharp 2.2% in February, reflecting a big decline in factory output.

ASX 200 expected to fall​The Australian share market looks set to drop lower today after a subdued night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 28 points or 0.4% lower this morning. 

On closing in the United States, the Dow Jones was down 0.39%, the S&P 500 is down 0.16%, and the Nasdaq is up 0.09%.











https://www.usnews.com/news/busines...hares-rise-after-us-stocks-gain-for-fifth-day

US Stocks Step Back From All-Time Highs in Choppy Trading​Stock indexes are closing mostly lower Tuesday, shedding some of their recent gains after coming within striking distance of matching Wall Street's longest winning streak of the year.​By Associated Press, Wire Service Content March 16, 2021, at 5:01 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street capped a choppy day of trading Tuesday with stock indexes closing mostly lower after coming within striking distance of matching the market's longest winning streak of the year.

The S&P 500 fell 0.2% after wobbling between small gains and losses most of the day. The modest pullback snapped the benchmark index's five-day winning streak. A sixth-day of gains would have matched the S&P 500's longest winning streak so far this year, though the index remains near its all-time high.

Losses by banks, industrial stocks and companies that rely on consumer spending, including cruise line operators, pulled the market lower, outweighing gains by Big Tech and communication services stocks. Energy stocks, the S&P 500's biggest gainers so far this year, took the brunt of the losses as crude oil prices fell.

Stocks' uneven finish came as investors continue to closely watch the bond market, with even minute changes in bond yields causing stocks to fluctuate. Bond yields also wavered Tuesday. The 10-year Treasury yield, which influences interest rates on mortgages and other consumer loans, inched up to 1.62%.

“The 10-year is remaining above 1.60%,” said Sam Stovall, chief investment strategist at CFRA. “So, investors are in a sense girding themselves for higher inflation.”

The S&P 500 dropped 6.23 points to 3,962.71. Earlier, it had been up 0.3%. The Dow Jones Industrial Average lost 127.51 points, or 0.4%, to 32,825.95. The Nasdaq bucked the trend, benefiting from the rally in technology stocks. The tech-heavy index gained 11.86 points, or 0.1%, to 13,471.57.

The big technology names that rose sharply in 2020 were among the gainers Tuesday. Apple rose 1.6%, Google’s parent company added 1.4% and Facebook rose 2%. Tech stocks have moved in tandem with the bond market, so as some bond yields ticked lower on Tuesday, it moved technology stocks in the opposite direction.

Small company stocks lagged the broader market. The Russell 2000 index fell 40.65 points, or 1.7%, to 2,319.52.

Investors weighed new economic data Tuesday that showed Americans cut back on spending last month, partly due to bad weather in parts of the country that kept shoppers away from stores, and partly due to their December and January stimulus payments running out.

Retail sales fell a seasonally adjusted 3% in February from the month before, the U.S. Commerce Department said Tuesday. February's drop followed soaring sales in January as people spent $600 stimulus checks sent at the end of last year. In fact, the Commerce Department revised its January number upwards to 7.6% from its previously reported rise of 5.3%.

Meanwhile severe winter weather pushed industrial production down a sharp 2.2% in February, reflecting a big decline in factory output.

“We’re still in the midst of getting back to a more normal environment,” said Jason Pride, chief investment officer of private wealth at Glenmede. “Given the lumpiness of government stimulus payments, we're going to see numbers jumping around.”

Investors are betting big that this economic malaise will dissipate as spring arrives for most of the country and more Americans get vaccinated. Further, President Joe Biden's administration started sending out $1,400 stimulus checks to individuals last weekend.

Some investors fear the stimulus could translate into inflation down the road, however, which has caused investors to sell bonds. When bond prices fall, their yields rise.

Wall Street will be closely watching the Federal Reserve's latest economic and interest rate projections Wednesday. Economists expect Fed Chair Jerome Powell will try to convince jittery financial markets that even as the economic picture brightens, the central bank will be able to continue providing support without contributing to higher inflation. Many investors envision a swift and robust recovery later this year that could accelerate inflation and send long-term rates surging.

European shares rose despite news that some users of AstraZeneca's coronavirus vaccine, which was being used heavily in Europe and Asia, reported blood clots. The vaccine's usage is suspended in Europe.


----------



## bigdog

*Wall Street closes higher after Fed says will keep rates low*

Stocks closed higher Wednesday, reversing an early slide after the Federal Reserve reassured Wall Street that it expects to keep its key interest rate near zero through 2023.

The central bank’s renewed commitment to leaving rates at rock bottom lows comes even as its latest economic forecast calls for growth of 6.5% this year and for inflation to climb above 2% for the first time in years. Wall Street has been anxious about the potential for higher inflation to drive up bond yields further and has been looking for signs that the central bank shares its concerns.

Fed Chair Jerome Powell’s remarks during a news conference appeared to do the trick. Major stock indexes had been down for most of the day, led by another wave of selling in technology companies as bond yields rose, driving the closely watched 10-year Treasury yield up to 1.68% at one point, the highest level since January 2020.

After Powell spoke stocks gradually pivoted higher and bond yields fell. The turnaround nudged the S&P 500 and Dow Jones Industrial Average to all-time highs and pulled the tech-heavy Nasdaq out of the red.

“He reassured the market that the Fed is going to the extent possible be patient about even talking about raising rates,” said Willie Delwiche, investment strategist at All Star Charts.

The S&P 500 rose 11.41 points, or 0.3%, to 3,974.12, recovering from a 0.7% slide. The benchmark index has now notched an all-time high 14 times this year. The Dow gained 189.42 points, or 0.6%, to 33,015.37. The Nasdaq, which had been down 1.5%, rose 53.64 points, or 0.4%, to 13,525.20.

Banks, industrial stocks and companies that rely on consumer spending helped lift the market. Those gains outweighed a pullback in health care, utilities and other sectors.

Smaller company stocks, the market’s standout gainers so far this year, also had good day. The Russell 2000 index of smaller companies picked up 16.87 points, or 0.7%, to 2,336.39.

Treasury yields mostly fell, reversing an earlier move higher. The yield on the 10-year U.S. Treasury note, which has surged in recent weeks on inflation concerns, rose to 1.64%, the highest level since February 2020. It hit 1.62% late Tuesday.

Higher yields put downward pressure on stocks generally, in part because they can steer away dollars that had been headed for the stock market and into bonds instead. That makes investors less willing to pay as high prices for stocks.

Investors are betting big that the economic malaise will dissipate as spring arrives and more Americans get vaccinated against the coronavirus. The $1,400 stimulus checks the Biden administration began sending to individuals last weekend are also helping. But faster economic activity could also translate into some degree of inflation.

ASX 200 futures pointing higher​The Australian share market looks set to push higher on Thursday morning following a positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 5 points or 0.1% higher this morning. 

On closing Wall Street, the Dow Jones was up 0.58%, the S&P 500 had risen 0.29%, and the Nasdaq up 0.40%.










https://apnews.com/article/financia...erome-powell-5fdce4c965fc3e5043db10d55214794a

*Wall Street closes higher after Fed says will keep rates low*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed higher Wednesday, reversing an early slide after the Federal Reserve reassured Wall Street that it expects to keep its key interest rate near zero through 2023.

The central bank’s renewed commitment to leaving rates at rock bottom lows comes even as its latest economic forecast calls for growth of 6.5% this year and for inflation to climb above 2% for the first time in years. Wall Street has been anxious about the potential for higher inflation to drive up bond yields further and has been looking for signs that the central bank shares its concerns.

Fed Chair Jerome Powell’s remarks during a news conference appeared to do the trick. Major stock indexes had been down for most of the day, led by another wave of selling in technology companies as bond yields rose, driving the closely watched 10-year Treasury yield up to 1.68% at one point, the highest level since January 2020.

After Powell spoke stocks gradually pivoted higher and bond yields fell. The turnaround nudged the S&P 500 and Dow Jones Industrial Average to all-time highs and pulled the tech-heavy Nasdaq out of the red.

“He reassured the market that the Fed is going to the extent possible be patient about even talking about raising rates,” said Willie Delwiche, investment strategist at All Star Charts.

The S&P 500 rose 11.41 points, or 0.3%, to 3,974.12, recovering from a 0.7% slide. The benchmark index has now notched an all-time high 14 times this year. The Dow gained 189.42 points, or 0.6%, to 33,015.37. The Nasdaq, which had been down 1.5%, rose 53.64 points, or 0.4%, to 13,525.20.

Banks, industrial stocks and companies that rely on consumer spending helped lift the market. Those gains outweighed a pullback in health care, utilities and other sectors.

Smaller company stocks, the market’s standout gainers so far this year, also had good day. The Russell 2000 index of smaller companies picked up 16.87 points, or 0.7%, to 2,336.39.

Treasury yields mostly fell, reversing an earlier move higher. The yield on the 10-year U.S. Treasury note, which has surged in recent weeks on inflation concerns, rose to 1.64%, the highest level since February 2020. It hit 1.62% late Tuesday.

Higher yields put downward pressure on stocks generally, in part because they can steer away dollars that had been headed for the stock market and into bonds instead. That makes investors less willing to pay as high prices for stocks.

Investors are betting big that the economic malaise will dissipate as spring arrives and more Americans get vaccinated against the coronavirus. The $1,400 stimulus checks the Biden administration began sending to individuals last weekend are also helping. But faster economic activity could also translate into some degree of inflation.

The Fed policymakers now forecast that the national unemployment rate will drop faster than they did in December: They foresee unemployment falling from its current 6.2% to 4.5% by year’s end and to 3.9%, near a healthy level, at the end of 2022.

That suggests that the central bank will be close to meeting its goals by 2023, when it expects inflation to exceed its 2% target and for unemployment to be at 3.5%. Yet it still doesn’t project a rate hike then.

At least some Fed officials appear to be closer to tightening up the central bank’s ultra-low-rate policies. Four of the 18 policymakers now expect a rate hike in 2022, up from just one in December. And seven predict a hike in 2023, up from five in December.


----------



## bigdog

*Wall Street closes lower, pulled down by IT and energy*

Stocks fell broadly on Wall Street Thursday, as rising bond yields once again pulled down shares of technology companies and the energy sector sold off on a sharp drop in oil prices.

The S&P 500 index fell 1.5%, on track for its first weekly loss in three weeks. Technology companies accounted for a big swath of the sell-off, which contributed to the tech-heavy Nasdaq Composite dropping 3%, its second-worst loss of the year.

Communications stocks and companies that rely on consumer spending also weighed on the market. Energy stocks fell the most as the price of U.S. crude oil skidded for the fifth straight day. Only financial stocks eked out a gain, as investors bet that higher interest rates would translate into healthier profits.

Bond yields ticked higher again, with the 10-year Treasury note rising to 1.72%, near levels not seen since January 2020. Higher yields put downward pressure on stocks generally, in part because they can steer dollars away from the stock market and into bonds instead. That makes investors less willing to pay for higher priced stocks such as Big Tech companies that powered much of the market’s blockbuster turnaround last year. Apple shares fell 3.4%, Microsoft lost 2.7% and Tesla slumped 6.9%.

“Those tech-related stocks that are in the S&P 500 are just coming under so much pressure, and so many of them are in the Nasdaq, that it’s just continuing to bring the market down overall,” said J.J. Kinahan, chief strategist with TD Ameritrade.

The S&P 500 fell 58.66 points to 3,915.46. The Dow Jones Industrial Average lost 153.07 points, or 0.5%, to 32,862.30, after rising more than 200 points earlier. The Nasdaq slid 409.03 points to 13,116.17.

Smaller company stocks, the market’s standout gainers so far this year, also fell. The Russell 2000 index of smaller companies gave up 68.81 points, or 2.9%, to 2,267.59.

Bank stocks were among the best performers as investors bet that higher interest rates would translate into higher profits. Wells Fargo rose 2.4%, Bank of America added 2.6% and JPMorgan Chase gained 1.7%.

The VIX, a measure of fear in the market, climbed about 12%, a sign of rising volatility. One possible factor: Friday is “quadruple witching” day, which happens four times a year and marks the simultaneous expiration of four kinds of options and futures contracts.

“Usually, you have some sort of big move on Thursday as people try to settle up their positions going forward,” Kinahan said.

The market’s pullback undercut some of the gains from a day earlier, when the S&P 500 and Dow hit all-time highs after the Federal Reserve said U.S. economic growth should rebound to 6.5% this year — the strongest since the 1980s — and inflation will climb above 2% for the first time in years.

“Early in a cycle you’re going to see higher inflation and higher interest rates and demand as global activity picks up,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute.

Investors have worried that if inflation picks up, central banks might respond by raising interest rates, which would cool economic growth. But Fed Chairman Jerome Powell’s comments at a news conference appeared to reassure them. Fed officials have said they would let the U.S. economy “run hot” to make sure a recovery is gaining traction.

ASX 200 to fall​The Australian share market looks set to end the week on a disappointing note. According to the latest SPI futures, the ASX 200 is expected to open the day 34 points or 0.5% lower this morning. This follows a poor night on Wall Street, which on closing  sees the Dow Jones down 0.46%, the S&P 500 down 1.48%, and the Nasdaq sinking 3.02% lower. Rising bond yields have spooked investors again.











https://apnews.com/article/financia...rus-pandemic-97380f5f24671dacf14fd7544604fc6d

*Wall Street closes lower, pulled down by IT and energy*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks fell broadly on Wall Street Thursday, as rising bond yields once again pulled down shares of technology companies and the energy sector sold off on a sharp drop in oil prices.

The S&P 500 index fell 1.5%, on track for its first weekly loss in three weeks. Technology companies accounted for a big swath of the sell-off, which contributed to the tech-heavy Nasdaq Composite dropping 3%, its second-worst loss of the year.

Communications stocks and companies that rely on consumer spending also weighed on the market. Energy stocks fell the most as the price of U.S. crude oil skidded for the fifth straight day. Only financial stocks eked out a gain, as investors bet that higher interest rates would translate into healthier profits.

Bond yields ticked higher again, with the 10-year Treasury note rising to 1.72%, near levels not seen since January 2020. Higher yields put downward pressure on stocks generally, in part because they can steer dollars away from the stock market and into bonds instead. That makes investors less willing to pay for higher priced stocks such as Big Tech companies that powered much of the market’s blockbuster turnaround last year. Apple shares fell 3.4%, Microsoft lost 2.7% and Tesla slumped 6.9%.

“Those tech-related stocks that are in the S&P 500 are just coming under so much pressure, and so many of them are in the Nasdaq, that it’s just continuing to bring the market down overall,” said J.J. Kinahan, chief strategist with TD Ameritrade.

The S&P 500 fell 58.66 points to 3,915.46. The Dow Jones Industrial Average lost 153.07 points, or 0.5%, to 32,862.30, after rising more than 200 points earlier. The Nasdaq slid 409.03 points to 13,116.17.

Smaller company stocks, the market’s standout gainers so far this year, also fell. The Russell 2000 index of smaller companies gave up 68.81 points, or 2.9%, to 2,267.59.

Bank stocks were among the best performers as investors bet that higher interest rates would translate into higher profits. Wells Fargo rose 2.4%, Bank of America added 2.6% and JPMorgan Chase gained 1.7%.

The VIX, a measure of fear in the market, climbed about 12%, a sign of rising volatility. One possible factor: Friday is “quadruple witching” day, which happens four times a year and marks the simultaneous expiration of four kinds of options and futures contracts.

“Usually, you have some sort of big move on Thursday as people try to settle up their positions going forward,” Kinahan said.

The market’s pullback undercut some of the gains from a day earlier, when the S&P 500 and Dow hit all-time highs after the Federal Reserve said U.S. economic growth should rebound to 6.5% this year — the strongest since the 1980s — and inflation will climb above 2% for the first time in years.

“Early in a cycle you’re going to see higher inflation and higher interest rates and demand as global activity picks up,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute.

Investors have worried that if inflation picks up, central banks might respond by raising interest rates, which would cool economic growth. But Fed Chairman Jerome Powell’s comments at a news conference appeared to reassure them. Fed officials have said they would let the U.S. economy “run hot” to make sure a recovery is gaining traction.

The U.S. economy still has a lot of recovering to do. The Labor Department said Thursday that the number of Americans who filed for unemployment benefits last week rose to 770,000, remaining well above historic norms for that metric.

Investors are betting the economic malaise will dissipate as spring arrives and more Americans get vaccinated against the coronavirus. The $1,400 stimulus checks the Biden administration began sending to individuals last weekend are helping. Fed policymakers foresee unemployment falling from 6.2% to 4.5% by year’s end and to 3.9% at the end of 2022.

Energy prices fell, with U.S. crude oil losing 7.4% to $59.82 a barrel in New York. That dragged energy companies lower as well. The energy sector of the S&P 500 fell 4.7% Thursday, though it’s still this year’s biggest gainer, up 29.3% since the start of 2021.


----------



## bigdog

*Wall Street closing lower; bank stocks fall*

Wall Street closed out a choppy week of trading Friday with major stock indexes mostly lower and all finishing in the red for the week.

The S&P 500 ended 0.1% lower after reversing a small gain. The benchmark index, which hit an all-time high on Wednesday, posted its first weekly decline in three weeks. Losses by banks, industrial companies and technology stocks weighed on the market. They offset gains in companies that rely on consumer spending, health care and other sectors.

Bond yields were mixed, though the 10-year Treasury yield inched higher. The closely watched yield, which influences interest rates on mortgages and other consumer loans, has hovered this week near the highest level since January.

Higher yields put downward pressure on stocks generally, in part because they can steer dollars away from the stock market and into bonds instead. That makes investors less willing to pay as high prices for stocks.

“Overall, the very near term concerns are going back to some of the bigger picture questions,” said Barry Bannister, chief equity strategist at Stifel. “How high can yields go and what does that mean for stock valuations?”

The S&P 500 lost 2.36 points to 3,913.10. The Dow Jones Industrial Average fell 234.33 points, or 0.7%, to 32,627.97, pulled lower by financial companies. The technology-heavy Nasdaq Composite rose 99.07 points, or 0.8%, to 13,215.24.

Smaller company stocks also notched gains. That helped the Russell 2000 index of smaller companies claw back some of its losses from a day earlier. It picked up 19.96 points, or 0.9%, to 2,287.55.

A late-burst of selling may have been caused by “quadruple witching,” the simultaneous expiration of four kinds of options and futures contracts. The phenomenon happens four times a year and forces traders to tie up loose ends in contracts they hold.

Bank stocks fell after the Federal Reserve announced it would end some of the emergency measures put in place last year to aid the financial industry deal with the pandemic. The move will restore some of the capital requirements for big banks that were suspended in the early months of the viral outbreak, in order to give banks flexibility. The banking industry had hoped those measures would be extended.

The announcement briefly raised concerns about more bond selling, but those fears have been tempered, Bannister said.

Big bank stocks were particularly hurt, since the Fed’s measures mostly apply to the nation’s largest banks. Citigroup and Bank of America dropped 1.1%, while JPMorgan Chase slid 1.6%.

Several Big Tech companies rose. Netflix gained 1.5% and Amazon.com added 1.6%. Facebook, meanwhile, climbed 4.1%. Even so, the S&P 500′s tech sector fell, weighed down partly by Visa. Shares in the financial services company fell 6.2% for the biggest decline in the S&P 500 following reports that the Justice Department is investigating the company over its debit card practices. Mastercard fell 2.9%.











https://apnews.com/article/financia...rus-pandemic-2c81b416ae35bac3bf63d047bc4f863a

*Wall Street closing lower; bank stocks fall*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street closed out a choppy week of trading Friday with major stock indexes mostly lower and all finishing in the red for the week.

The S&P 500 ended 0.1% lower after reversing a small gain. The benchmark index, which hit an all-time high on Wednesday, posted its first weekly decline in three weeks. Losses by banks, industrial companies and technology stocks weighed on the market. They offset gains in companies that rely on consumer spending, health care and other sectors.

Bond yields were mixed, though the 10-year Treasury yield inched higher. The closely watched yield, which influences interest rates on mortgages and other consumer loans, has hovered this week near the highest level since January.

Higher yields put downward pressure on stocks generally, in part because they can steer dollars away from the stock market and into bonds instead. That makes investors less willing to pay as high prices for stocks.

“Overall, the very near term concerns are going back to some of the bigger picture questions,” said Barry Bannister, chief equity strategist at Stifel. “How high can yields go and what does that mean for stock valuations?”

The S&P 500 lost 2.36 points to 3,913.10. The Dow Jones Industrial Average fell 234.33 points, or 0.7%, to 32,627.97, pulled lower by financial companies. The technology-heavy Nasdaq Composite rose 99.07 points, or 0.8%, to 13,215.24.

Smaller company stocks also notched gains. That helped the Russell 2000 index of smaller companies claw back some of its losses from a day earlier. It picked up 19.96 points, or 0.9%, to 2,287.55.

A late-burst of selling may have been caused by “quadruple witching,” the simultaneous expiration of four kinds of options and futures contracts. The phenomenon happens four times a year and forces traders to tie up loose ends in contracts they hold.

Bank stocks fell after the Federal Reserve announced it would end some of the emergency measures put in place last year to aid the financial industry deal with the pandemic. The move will restore some of the capital requirements for big banks that were suspended in the early months of the viral outbreak, in order to give banks flexibility. The banking industry had hoped those measures would be extended.

The announcement briefly raised concerns about more bond selling, but those fears have been tempered, Bannister said.

Big bank stocks were particularly hurt, since the Fed’s measures mostly apply to the nation’s largest banks. Citigroup and Bank of America dropped 1.1%, while JPMorgan Chase slid 1.6%.

Several Big Tech companies rose. Netflix gained 1.5% and Amazon.com added 1.6%. Facebook, meanwhile, climbed 4.1%. Even so, the S&P 500′s tech sector fell, weighed down partly by Visa. Shares in the financial services company fell 6.2% for the biggest decline in the S&P 500 following reports that the Justice Department is investigating the company over its debit card practices. Mastercard fell 2.9%.

As interest rates have risen, pricier stocks like technology companies have fallen.

The yield on the 10-year U.S. Treasury note rose to 1.73% from 1.72% late Thursday. The prospect of higher interest rates as bond yields rise has some investors concerned that economic growth could slow.

There are also concerns that the rise in bond yields could be a harbinger of inflation. Fed officials said earlier this week that they may let the U.S. economy “run hot” for some time in order to not stymie the economic recovery as the pandemic eases.

Shares of transportation company FedEx leaped 6.1% after the company reported earnings well above analysts’ estimates.

Shares of Nike fell by 4% after the athletic apparel company said pandemic-caused congestion at ports caused sales to slow in the last quarter.


----------



## bigdog

ASX 200 expected to drop​The Australian share market looks set to drop this morning following another mixed finish to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the week 15 points or 0.2% lower today. 

On Wall Street on Friday night, the Dow Jones fell 0.7% and the S&P 500 edged slightly lower. A rebound in tech stocks led to the Nasdaq index defying the weakness to record a 0.75% gain.


----------



## bigdog

*Technology companies lead stocks higher on Wall Street*

Technology companies led stocks higher on Wall Street Monday, reversing some of the market’s losses from last week, as investors welcomed some easing in long-term bond yields.

The S&P 500 index rose 0.7%, as gains in technology, communication and other stocks outweighed a pullback in financial companies. The rally in tech stocks pushed the Nasdaq composite 1.2% higher.

A steady rise in bond yields over the past month has been luring investors away from high-flying tech stocks, but traders have also been quick to snap up tech stocks on days when bond yields decline or only rise slightly.

The yield on the 10-year Treasury note fell to 1.69% after trading as high as 1.74% last week. Amazon, Apple, and Microsoft all made solid gains.

The prospect of higher interest rates as bond yields rise has some investors concerned that economic growth could slow. There are also concerns that the rise in bond yields could be a harbinger of inflation.

“There will be a pickup in inflation, no doubt about that, as the recovery progresses,” said David Lefkowitz, head of Americas equities at UBS Global Wealth Management. “As long as rates are rising for the right reasons, that’s fine for stocks.”

The S&P 500 added 27.49 points to 3,940.59. The Dow Jones Industrial Average rose 103.23 points, or 0.3%, to 32,731.20. The Nasdaq climbed 162.31 points to 13,377.54. The Russell 2000 index of smaller companies slid 20.70 points, or 0.9%, to 2,266.84.

Stocks ended last week in the red as a rise in bond yields caused selling in many parts of the market. Bond yields have been moving steadily higher all year as investors have bet that the U.S. economy is poised to strongly recover later this year as vaccinations and trillions of dollars of government stimulus take effect.

But a rise in bond yields causes parts of the stock market to appear more expensive than others, the dominant example being technology stocks. Big technology stocks rose sharply last year, and their high valuations make them a prime target for selling when investors can find safer places to park their money.

Traders seized on the pullback in bond yields to snap up shares in some of the Big Tech companies Monday. Amazon rose 1.2% and Apple gained 2.8%, while Microsoft rose 2.4%.

Bank stocks fell. Lower yields potentially mean banks will only be able to charger lower interest rates to borrowers. The KBW Bank Index of the 24 largest banks fell more than 2%.

Shares in several travel-related companies, including airlines, cruise operators and booking sites, fell. Carnival slid 5.1%, while American Airlines dropped 4.6%. Expedia Group lost 3.8%.

*ASX 200 futures pointing lower*
The Australian share market looks set to edge lower today despite strong gains being recorded in the United States. According to the latest SPI futures, the ASX 200 is poised to open the day 12 points or 0.2% lower this morning. 

On closing on Wall Street, the Dow Jones is up 0.32%, the S&P 500 is up 0.70%, and the Nasdaq is trading 1.23% higher. A pullback in bond yields gave equities a boost.

*Tech shares could jump*
It could be a good day for ASX tech shares such as* Afterpay Ltd* (ASX: APT) and *Zip Co Ltd* (ASX: Z1P) on Tuesday after US tech stocks stormed higher overnight following a pullback in bond yields. US giants Apple, Facebook, and Tesla are all recording solid gains and helping to drive the tech-focused Nasdaq index 1.23% higher. As the local tech sector has a tendency of following the Nasdaq’s lead, this bodes well for Tuesday’s trade.










https://apnews.com/article/financia...rus-pandemic-9773b0e21ee6619853a666cfe536f7d1

*Technology companies lead stocks higher on Wall Street*

By DAMIAN J. TROISE and ALEX VEIGA



Technology companies led stocks higher on Wall Street Monday, reversing some of the market’s losses from last week, as investors welcomed some easing in long-term bond yields.

The S&P 500 index rose 0.7%, as gains in technology, communication and other stocks outweighed a pullback in financial companies. The rally in tech stocks pushed the Nasdaq composite 1.2% higher.

A steady rise in bond yields over the past month has been luring investors away from high-flying tech stocks, but traders have also been quick to snap up tech stocks on days when bond yields decline or only rise slightly.

The yield on the 10-year Treasury note fell to 1.69% after trading as high as 1.74% last week. Amazon, Apple, and Microsoft all made solid gains.

The prospect of higher interest rates as bond yields rise has some investors concerned that economic growth could slow. There are also concerns that the rise in bond yields could be a harbinger of inflation.

“There will be a pickup in inflation, no doubt about that, as the recovery progresses,” said David Lefkowitz, head of Americas equities at UBS Global Wealth Management. “As long as rates are rising for the right reasons, that’s fine for stocks.”

The S&P 500 added 27.49 points to 3,940.59. The Dow Jones Industrial Average rose 103.23 points, or 0.3%, to 32,731.20. The Nasdaq climbed 162.31 points to 13,377.54. The Russell 2000 index of smaller companies slid 20.70 points, or 0.9%, to 2,266.84.

Stocks ended last week in the red as a rise in bond yields caused selling in many parts of the market. Bond yields have been moving steadily higher all year as investors have bet that the U.S. economy is poised to strongly recover later this year as vaccinations and trillions of dollars of government stimulus take effect.

But a rise in bond yields causes parts of the stock market to appear more expensive than others, the dominant example being technology stocks. Big technology stocks rose sharply last year, and their high valuations make them a prime target for selling when investors can find safer places to park their money.

Traders seized on the pullback in bond yields to snap up shares in some of the Big Tech companies Monday. Amazon rose 1.2% and Apple gained 2.8%, while Microsoft rose 2.4%.

Bank stocks fell. Lower yields potentially mean banks will only be able to charger lower interest rates to borrowers. The KBW Bank Index of the 24 largest banks fell more than 2%.

Shares in several travel-related companies, including airlines, cruise operators and booking sites, fell. Carnival slid 5.1%, while American Airlines dropped 4.6%. Expedia Group lost 3.8%.

The U.S.-traded shares of British drug company AstraZeneca rose 4%% after British and U.S. health officials said the company’s COVID-19 vaccine was safe and earlier reports of blood clots were outweighed by the health benefits of the vaccine.

Kansas City Southern jumped 11.1% for the biggest gain in the S&P 500 after a Canadian railroad announced it would buy the company for $25 billion.

Apollo Global Management rose 4.5% after the private equity company announced that its longtime chairman Leon Black would be retiring. Black’s reputation had been damaged in the last couple of years by his association with disgraced financier Jeffrey Epstein.

The Turkish lira nosedived 7.8% after the country’s president, Recep Tayyip Erdogan, fired his third central bank head in less than two years over the weekend. The latest abrupt change raised concerns about a possible return to the unconventional monetary policy favored by the Turkish president.


----------



## bigdog

*Stocks close broadly lower on Wall Street as banks stumble*

Stocks closed broadly lower on Tuesday and gave back nearly all of their gains from a day earlier as technology, industrial and bank stocks fell.

The S&P 500 fell 30.07 points, or 0.8%, to 3,910.52. Technology stocks were the biggest drag on the market and pushed the Nasdaq 149.85 points lower, or 1.1%, to 13,227.70. The Dow Jones Industrial Average fell 308.05 points, or 0.9% to 32,423.15.

Stocks of smaller companies, which have far outpaced the rest of the market this year, fell even more. The Russell 2000 index gave back 3.6%.

Industrial and health care companies also accounted for a good part of the selling. Energy stocks helped drag down the market too as oil prices fell.

Bond yields declined. That weighed on banks and other financial companies which look to yields as a benchmark for the interest rates they charge on mortgages and other loans.

Investors continue to be focused on the future outlook for the U.S. economy as millions of Americans get vaccinated every day. Investors are wavering between optimism that coronavirus vaccines that might allow business and travel to return to normal and fears of higher inflation after struggling economies were flooded with credit and government spending.

“The market feels like it is in this inflection point,” said Darrell Cronk, chief investment officer of Wells Fargo Wealth and Investment Management. “It’s a good day for reflection.”

The price of U.S. crude oil dropped 6.2% to $57.76 a barrel, pulling energy companies lower. Energy prices have been steadily climbing this year until recently, as the global economy recovers and oil demand worldwide increases while production remains constrained. Marathon Oil fell 6.1%.

Another drop in long-term bond yields pulled bank stocks lower. When bond yields fall they mean lower interest rates on loans such as mortgages, and weaker profits for banks and other lenders. Bank of America fell 2.0% and Wells Fargo dropped 1.9%. American Express slid 2.8%.

The yield of the 10-year Treasury note fell to 1.63%. The yield was well above 1.70% last week, which had put some pressure on the stock market.

The S&P 500 hit a pandemic-era low exactly one year ago, on March 23, 2020, having dropped nearly 34% in about a month. That wiped out three years’ worth of gains. The index wound up roaring back in the coming months, and recovered all its losses by August. Through Monday, it had surged 76% from that low point.

ASX 200 futures pointing lower​
The Australian share market is poised to edge lower on Wednesday following a weak night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 2 points lower this morning.

On closing on Wall Street, the Dow Jones was down 0.94%, the S&P 500 is down 0.76%, and the Nasdaq had fallen 1.12%. This was despite bond yields falling again!










https://apnews.com/article/financia...rus-pandemic-f48c14d18f54f10a2c9b0f01c528ed09

*Stocks close broadly lower on Wall Street as banks stumble*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed broadly lower on Tuesday and gave back nearly all of their gains from a day earlier as technology, industrial and bank stocks fell.

The S&P 500 fell 30.07 points, or 0.8%, to 3,910.52. Technology stocks were the biggest drag on the market and pushed the Nasdaq 149.85 points lower, or 1.1%, to 13,227.70. The Dow Jones Industrial Average fell 308.05 points, or 0.9% to 32,423.15.

Stocks of smaller companies, which have far outpaced the rest of the market this year, fell even more. The Russell 2000 index gave back 3.6%.

Industrial and health care companies also accounted for a good part of the selling. Energy stocks helped drag down the market too as oil prices fell.

Bond yields declined. That weighed on banks and other financial companies which look to yields as a benchmark for the interest rates they charge on mortgages and other loans.

Investors continue to be focused on the future outlook for the U.S. economy as millions of Americans get vaccinated every day. Investors are wavering between optimism that coronavirus vaccines that might allow business and travel to return to normal and fears of higher inflation after struggling economies were flooded with credit and government spending.

“The market feels like it is in this inflection point,” said Darrell Cronk, chief investment officer of Wells Fargo Wealth and Investment Management. “It’s a good day for reflection.”

The price of U.S. crude oil dropped 6.2% to $57.76 a barrel, pulling energy companies lower. Energy prices have been steadily climbing this year until recently, as the global economy recovers and oil demand worldwide increases while production remains constrained. Marathon Oil fell 6.1%.

Another drop in long-term bond yields pulled bank stocks lower. When bond yields fall they mean lower interest rates on loans such as mortgages, and weaker profits for banks and other lenders. Bank of America fell 2.0% and Wells Fargo dropped 1.9%. American Express slid 2.8%.

The yield of the 10-year Treasury note fell to 1.63%. The yield was well above 1.70% last week, which had put some pressure on the stock market.

The S&P 500 hit a pandemic-era low exactly one year ago, on March 23, 2020, having dropped nearly 34% in about a month. That wiped out three years’ worth of gains. The index wound up roaring back in the coming months, and recovered all its losses by August. Through Monday, it had surged 76% from that low point.

Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell told Congress on Tuesday that more must be done to limit the economic damage from the coronavirus pandemic. Powell also stressed that he does not expect programs aimed at reviving the economy will trigger unwanted inflation.

Cronk said many of the signs in the market point to an early-stage recovery. Interest rates are rising as the economy strengthens, commodities like oil are making steady gains and sectors tied closely to economic growth are doing well. “It’s playing out exactly as it should play out.”

AstraZeneca fell 3.5% after U.S. authorities said that the drug company’s COVID-19 vaccination trial data contained “incomplete” information, which may impact its efficacy. AstraZeneca’s vaccine is being primarily used in Europe.

GameStop, whose stock price soared in January after a social media-fueled frenzy, reported a jump in fourth-quarter profit because of a hefty tax benefit, but the company’s latest results fell short of Wall Street forecasts. The report was released after the close of regular stock trading. The stock fell 3% in after-hours trading.


----------



## bigdog

*A late slide, led by Big Tech, leaves US stock indexes lower*

A late-afternoon burst of selling on Wall Street erased an early gain for stocks Wednesday, pulling the market further below the all-time high it reached just a week ago.

The S&P 500 dropped 0.5% after having been up 0.8% in the early going. Technology and communication services companies accounted for the heaviest selling, outweighing gains in financial, energy and industrial stocks. Bond yields mostly fell after rising earlier this week.

“The markets are kind of choppy and sideways and everything is sort of trying to figure out who’s in charge, where’s the equilibrium — and it creates uncertainty,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab. “When people don’t know what to do, they either do nothing or they sell. They very rarely buy.”

The S&P 500 fell 21.38 points to 3,889.14. The benchmark index is on track for its second straight weekly decline. The Dow Jones Industrial Average slipped 3.09 points, or less than 0.1%, to 32,420.06, after a 364-point gain vanished by late afternoon. The Nasdaq slid 265.81 points, or 2%, to 12,961.89.

Smaller company stocks fared worse than the broader market. The Russell 2000 index lost 51.42 points, or 2.4%, to 2,134.27.

Investors had their eye on Washington, where Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen spoke before the Senate about the government's efforts to combat the economic impact of the coronavirus pandemic. The Biden administration is considering up to $3 trillion in additional spending on infrastructure, green energy, and education.

Yellen believes the U.S. government has more room to borrow, but said higher taxes would likely be required in the long run to finance future spending increases. Meanwhile, Powell reiterated that the recent jump in the yield on the 10-year Treasury, which soared from less than 1% at the beginning of the year to 1.62% Wednesday, was mostly a sign of confidence among investors that the economy is improving.

Bond yields have risen this year as traders have been watching the potential for inflation pressures to pick up after struggling economies were flooded with credit and government spending. That has depressed U.S. bond prices, prompting some to shift money out of stocks.

While rising interest rates are a key concern, the pandemic remains a dominant topic for investors. Stocks fell on Tuesday after Germany, Europe’s biggest economy, and the Netherlands extended lockdowns and imposed new travel and business curbs in response to spikes in infection. That followed similar moves earlier by Italy and France.

Traders are also juggling worries about the speed of vaccine distribution, COVID-19 cases and the potential for future tax changes crimping corporate profits, said Brad McMillan, chief investment officer for Commonwealth Financial Network.

“There’s a feeling that we’re not quite done with COVID-19 yet at all,” McMillan said. “That, combined with other concerns, is creating a lot of uncertainty.”

Technology and communication stocks dragged the market lower Wednesday. Apple fell 2%, while Facebook lost 2.9%.

Bank stocks, which took a beating on Tuesday, were among the best performers. Banks have been volatile the last couple of weeks as investors try to gauge the impact of higher interest rates on the U.S. economy. Higher interest rates can slow economic momentum, but they also allow banks to charge more for loans. JPMorgan Chase added 0.8%.


ASX 200 futures pointing lower​
The Australian share market looks set to edge lower on Thursday morning following a mixed night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 9 points or 0.1% lower this morning. 

On closing on Wall Street, the Dow Jones was down 0.01%, the S&P 500 down 0.55%, and the Nasdaq is down 2.01%.


Tech shares on watch​
It could be a tough day for ASX tech shares such as *Xero Limited* (ASX: XRO) and *Zip Co Ltd* (ASX: Z1P) on Thursday after US tech stocks came under pressure again during overnight trade. The tech-focused Nasdaq index was down 2.01%. This follows declines by a number of tech giants.










https://www.wokv.com/news/late-slid...ock-indexes-lower/ORQZFEYD5AXAN4OQMNLLRK77X4/

*A late slide, led by Big Tech, leaves US stock indexes lower*

March 24, 2021 at 4:54 pm EDT

By DAMIAN J. TROISE and ALEX VEIGA 
A late-afternoon burst of selling on Wall Street erased an early gain for stocks Wednesday, pulling the market further below the all-time high it reached just a week ago.

The S&P 500 dropped 0.5% after having been up 0.8% in the early going. Technology and communication services companies accounted for the heaviest selling, outweighing gains in financial, energy and industrial stocks. Bond yields mostly fell after rising earlier this week.

“The markets are kind of choppy and sideways and everything is sort of trying to figure out who’s in charge, where’s the equilibrium — and it creates uncertainty,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab. “When people don’t know what to do, they either do nothing or they sell. They very rarely buy.”

The S&P 500 fell 21.38 points to 3,889.14. The benchmark index is on track for its second straight weekly decline. The Dow Jones Industrial Average slipped 3.09 points, or less than 0.1%, to 32,420.06, after a 364-point gain vanished by late afternoon. The Nasdaq slid 265.81 points, or 2%, to 12,961.89.

Smaller company stocks fared worse than the broader market. The Russell 2000 index lost 51.42 points, or 2.4%, to 2,134.27.

Investors had their eye on Washington, where Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen spoke before the Senate about the government's efforts to combat the economic impact of the coronavirus pandemic. The Biden administration is considering up to $3 trillion in additional spending on infrastructure, green energy, and education.

Yellen believes the U.S. government has more room to borrow, but said higher taxes would likely be required in the long run to finance future spending increases. Meanwhile, Powell reiterated that the recent jump in the yield on the 10-year Treasury, which soared from less than 1% at the beginning of the year to 1.62% Wednesday, was mostly a sign of confidence among investors that the economy is improving.

Bond yields have risen this year as traders have been watching the potential for inflation pressures to pick up after struggling economies were flooded with credit and government spending. That has depressed U.S. bond prices, prompting some to shift money out of stocks.

While rising interest rates are a key concern, the pandemic remains a dominant topic for investors. Stocks fell on Tuesday after Germany, Europe’s biggest economy, and the Netherlands extended lockdowns and imposed new travel and business curbs in response to spikes in infection. That followed similar moves earlier by Italy and France.

Traders are also juggling worries about the speed of vaccine distribution, COVID-19 cases and the potential for future tax changes crimping corporate profits, said Brad McMillan, chief investment officer for Commonwealth Financial Network.

“There’s a feeling that we’re not quite done with COVID-19 yet at all,” McMillan said. “That, combined with other concerns, is creating a lot of uncertainty.”

Technology and communication stocks dragged the market lower Wednesday. Apple fell 2%, while Facebook lost 2.9%.

Bank stocks, which took a beating on Tuesday, were among the best performers. Banks have been volatile the last couple of weeks as investors try to gauge the impact of higher interest rates on the U.S. economy. Higher interest rates can slow economic momentum, but they also allow banks to charge more for loans. JPMorgan Chase added 0.8%.

GameStop sank 33.8% after reporting results that missed Wall Street's forecasts, though the stock is still up more than sixfold since the beginning of the year after it became a social media darling for a swarm of online investors. The company took no questions from investors on its quarterly conference call late Tuesday.


----------



## bigdog

*Stocks pull mostly higher, shaking off some early wobbles*

Stocks regained their footing after an early slide and closed broadly higher Thursday, led by gains in financial and industrial companies.

The S&P 500 rose 0.5% after having been down 0.9% in the early going. The gain is the benchmark index’s first in three days after a recent stretch of back-and-forth trading the last few weeks. Even so, the S&P 500 was still on track for a small weekly loss.

Banks and industrial companies powered much of the market’s late-afternoon turnaround, offsetting weakness in Microsoft, Netflix, Facebook and other Big Tech stocks. Treasury yields initially eased, then edged higher following encouraging reports on weekly jobless claims and fourth-quarter U.S. economic growth.

Stocks regained their footing after an early slide and closed broadly higher Thursday, led by gains in financial and industrial companies.

The S&P 500 rose 0.5% after having been down 0.9% in the early going. The gain is the benchmark index’s first in three days after a recent stretch of back-and-forth trading the last few weeks. Even so, the S&P 500 was still on track for a small weekly loss.

Banks and industrial companies powered much of the market’s late-afternoon turnaround, offsetting weakness in Microsoft, Netflix, Facebook and other Big Tech stocks. Treasury yields initially eased, then edged higher following encouraging reports on weekly jobless claims and fourth-quarter U.S. economic growth.

Investors have been moving money away from expensive tech stocks as part of a broader shift to stocks tied more closely to economic growth. There’s a good chance the recovery could be surprisingly strong with little interference from the Federal Reserve, said Andrew Slimmon, portfolio manager at Morgan Stanley Investment Management.

“There is a very clear message that the Fed is going to sit back and let the economy grow at a hotter rate because their number one priority is unemployment,” he said. “That means there’s a good chance the economy overshoots.”

The S&P 500 rose 20.38 points to 3,909.52. The Dow Jones Industrial Average gained 199.42 points, or 0.6%, to 32,619.48. The index had been down more than 348 points.

The tech-heavy Nasdaq composite had been down 1.4% before clawing back 15.79 points, or 0.1%, to 12,977.68. The Russell 2000 index of smaller stocks outdid the rest of the market, climbing 48.86 points, or 2.3%, to 2,183.12.

 The market has been mostly tumbling in place recently, with support for stocks coming from expectations that the economy will soar soon thanks to COVID-19 vaccinations and huge amounts of spending by Washington. A quick rise in interest rates has undercut stocks at the same time, though.

ASX 200 expected to rise​The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 22 points or 0.3% higher this morning. 

This follows a positive night on Wall Street, which on closing sees the Dow Jones up 0.62%, the S&P 500 up 0.52%, and the Nasdaq trading 0.12% higher.










https://apnews.com/article/africa-e...cial-markets-0e5f4434abc5d8094577b32ac392eab0

*Stocks pull mostly higher, shaking off some early wobbles*

By STAN CHOE and DAMIAN J. TROISE and ALEX VEIGA

Stocks regained their footing after an early slide and closed broadly higher Thursday, led by gains in financial and industrial companies.

The S&P 500 rose 0.5% after having been down 0.9% in the early going. The gain is the benchmark index’s first in three days after a recent stretch of back-and-forth trading the last few weeks. Even so, the S&P 500 was still on track for a small weekly loss.

Banks and industrial companies powered much of the market’s late-afternoon turnaround, offsetting weakness in Microsoft, Netflix, Facebook and other Big Tech stocks. Treasury yields initially eased, then edged higher following encouraging reports on weekly jobless claims and fourth-quarter U.S. economic growth.

Stocks regained their footing after an early slide and closed broadly higher Thursday, led by gains in financial and industrial companies.

The S&P 500 rose 0.5% after having been down 0.9% in the early going. The gain is the benchmark index’s first in three days after a recent stretch of back-and-forth trading the last few weeks. Even so, the S&P 500 was still on track for a small weekly loss.

Banks and industrial companies powered much of the market’s late-afternoon turnaround, offsetting weakness in Microsoft, Netflix, Facebook and other Big Tech stocks. Treasury yields initially eased, then edged higher following encouraging reports on weekly jobless claims and fourth-quarter U.S. economic growth.

Investors have been moving money away from expensive tech stocks as part of a broader shift to stocks tied more closely to economic growth. There’s a good chance the recovery could be surprisingly strong with little interference from the Federal Reserve, said Andrew Slimmon, portfolio manager at Morgan Stanley Investment Management.

“There is a very clear message that the Fed is going to sit back and let the economy grow at a hotter rate because their number one priority is unemployment,” he said. “That means there’s a good chance the economy overshoots.”

The S&P 500 rose 20.38 points to 3,909.52. The Dow Jones Industrial Average gained 199.42 points, or 0.6%, to 32,619.48. The index had been down more than 348 points.

The tech-heavy Nasdaq composite had been down 1.4% before clawing back 15.79 points, or 0.1%, to 12,977.68. The Russell 2000 index of smaller stocks outdid the rest of the market, climbing 48.86 points, or 2.3%, to 2,183.12.

The market has been mostly tumbling in place recently, with support for stocks coming from expectations that the economy will soar soon thanks to COVID-19 vaccinations and huge amounts of spending by Washington. A quick rise in interest rates has undercut stocks at the same time, though.

Yields in the Treasury market rose Thursday, but at a modest pace after the 10-year yield spiked above 1.70% last week, its highest level since before the pandemic started. The 10-year Treasury yield, which helps set rates for all kinds of loans, rose to 1.63%, from 1.61% late Wednesday.

The Labor Department said the number of workers filing for unemployment benefits eased to its lowest level since before the pandemic erupted a year ago. Another report said the U.S. economy grew at a faster pace at the end of 2020 than earlier estimated.

Moves in Treasury yields have been a major reason for the swings in the stock market in recent weeks. When bonds pay more in interest, they make investors less willing to pay high prices for stocks. Businesses that are asking investors to wait many years for their big profits to begin rolling in are affected even more.

Technology stocks have borne the brunt of the pain of higher interest rates, and they’re also among the biggest companies in the market in terms of value.

Big tech stocks swung back and forth in earlier trading and were nearly evenly split within the broader S&P 500 index. Microsoft fell 1.3%, while Hewlett Packard Enterprise rose 3.9%.

Other Big Tech stocks fell. Netflix dropped 3.4% and Facebook lost 1.2%.

Treasury yields have been broadly rising with expectations for stronger economic growth and the inflation that may accompany it.


----------



## bigdog

S&P 500 Returns to a Record High After Best Day in Weeks​U.S. stocks burst to their best day in three weeks on Friday, helping Wall Street return to record heights and avoid what could have been a second straight weekly loss.​
The S&P 500 added 65.02 points, or 1.7%, to 3,974.54, with a quarter of that rise coming in the last five minutes of trading alone. Some of the biggest gains came from companies whose profits would jump the most if COVID-19 vaccinations and massive U.S. government spending programs juice the economy as much as economists expect. The index locked in a 1.7% gain for the week after losing 0.8% last week.

The Dow Jones Industrial Average rose 453.40 points, or 1.4%, to 33,072.88, and both it and the S&P 500 set all-time highs. The Nasdaq composite climbed 161.05, or 1.2%, to 13,138.72, though it remains 6.8% below its record set last month.

Stock prices have been churning in recent weeks, and momentum has often shifted sharply, sometimes by the hour. Rising expectations for a supercharged economic recovery are supporting many stocks on one hand, while worries about the possibility of higher inflation and rising interest rates are undercutting the market on the other.

This past week, everything from President Joe Biden doubling his goal for COVID-19 vaccinations to a skyscraper-sized ship blocking one of the world's most important canals sent markets swinging.

“It's natural that you would have people looking at" stocks of companies that would benefit the most from a rejuvenated economy, said Tom Plumb, portfolio manager and president of Plumb Funds. “But there are times when you are going to have a fair amount of volatility because a recovery like we are in has never been smooth.”

Much of the stock market's recent turbulence has been an after-effect of movements in the bond market, where Treasury yields have been largely climbing since last autumn. Higher yields can make investors less willing to pay high prices for stocks, with companies seen as the most expensive taking the most pain. Companies that ask their investors to wait many years for the payoff of big profit growth have also been hit hard.

The yield on the 10-year Treasury rose to 1.67% from 1.61% late Thursday. But that’s still below where it was last week, when it rose above 1.70% and touched its highest level since before the pandemic began.

A report on Friday also showed that a gauge of inflation that the Federal Reserve likes to use was weaker last month than economists expected. That took off some of the pressure of inflation worries in the near term.

The higher yields helped lift stocks of banks, in part because higher interest rates allow them to make bigger profits from making loans. Financial stocks also got a boost after the Federal Reserve said it will soon allow banks to resume buying back their own stock and to send bigger dividend payments to shareholders. The Fed restricted such moves last summer to force banks to hold onto cash cushions amid the coronavirus-caused recession.












https://www.usnews.com/news/busines...ks-advance-on-optimism-over-pandemic-recovery

S&P 500 Returns to a Record High After Best Day in Weeks​U.S. stocks burst to their best day in three weeks Friday, helping Wall Street to return to record heights and avoid what could have been a second straight weekly loss.​By Associated Press, Wire Service Content March 26, 2021, at 4:39 p.m.

By DAMIAN J. TROISE and STAN CHOE, AP Business Writers

NEW YORK (AP) — U.S. stocks burst to their best day in three weeks on Friday, helping Wall Street return to record heights and avoid what could have been a second straight weekly loss.

The S&P 500 added 65.02 points, or 1.7%, to 3,974.54, with a quarter of that rise coming in the last five minutes of trading alone. Some of the biggest gains came from companies whose profits would jump the most if COVID-19 vaccinations and massive U.S. government spending programs juice the economy as much as economists expect. The index locked in a 1.7% gain for the week after losing 0.8% last week.

The Dow Jones Industrial Average rose 453.40 points, or 1.4%, to 33,072.88, and both it and the S&P 500 set all-time highs. The Nasdaq composite climbed 161.05, or 1.2%, to 13,138.72, though it remains 6.8% below its record set last month.

Stock prices have been churning in recent weeks, and momentum has often shifted sharply, sometimes by the hour. Rising expectations for a supercharged economic recovery are supporting many stocks on one hand, while worries about the possibility of higher inflation and rising interest rates are undercutting the market on the other.

This past week, everything from President Joe Biden doubling his goal for COVID-19 vaccinations to a skyscraper-sized ship blocking one of the world's most important canals sent markets swinging.

“It's natural that you would have people looking at" stocks of companies that would benefit the most from a rejuvenated economy, said Tom Plumb, portfolio manager and president of Plumb Funds. “But there are times when you are going to have a fair amount of volatility because a recovery like we are in has never been smooth.”

Much of the stock market's recent turbulence has been an after-effect of movements in the bond market, where Treasury yields have been largely climbing since last autumn. Higher yields can make investors less willing to pay high prices for stocks, with companies seen as the most expensive taking the most pain. Companies that ask their investors to wait many years for the payoff of big profit growth have also been hit hard.

The yield on the 10-year Treasury rose to 1.67% from 1.61% late Thursday. But that’s still below where it was last week, when it rose above 1.70% and touched its highest level since before the pandemic began.

A report on Friday also showed that a gauge of inflation that the Federal Reserve likes to use was weaker last month than economists expected. That took off some of the pressure of inflation worries in the near term.

The higher yields helped lift stocks of banks, in part because higher interest rates allow them to make bigger profits from making loans. Financial stocks also got a boost after the Federal Reserve said it will soon allow banks to resume buying back their own stock and to send bigger dividend payments to shareholders. The Fed restricted such moves last summer to force banks to hold onto cash cushions amid the coronavirus-caused recession.

Some of Friday's biggest gains came from energy stocks, which benefited from a $2.41 rise in the price of U.S. oil, settling at $60.97 per barrel.

Marathon Oil gained 5.3%, and energy stocks across the S&P 500 rose 2.6% for the biggest gain among the 11 sectors that make up the index.

Stocks of companies that would benefit from more investment in infrastructure were also rallying sharply. Steelmaker Nucor climbed 8.9% for the biggest gain in the S&P 500, and miner Freeport-McMoRan rose 5.9%.

President Joe Biden is pushing for big spending on the nation's infrastructure, as many past presidents have done to little effect. “Whether or not it happens or doesn't happen, the market feels like there's more of a possibility that it will happen,” Plumb said.

Other companies that stand to benefit from more widespread coroanvirus vaccinations and the U.S. government's spending plan to rescue the economy were also particularly strong. Victoria’s Secret and Bath & Body Works owner L Brands gained 3.7% after raising its profit forecast for the first quarter, citing higher sales as stimulus checks reach people and COVID-19 restrictions are relaxed.

Since interest rates began rising last autumn, tech stocks have been most caught within the the market's crosswinds. They were among the biggest winners earlier in the pandemic, and their high stock prices and long runways of profit growth have made them susceptible to weakness when interest rates have been on the rise.

Such high-growth stocks were turning in a mixed performance on Friday. Apple rose 0.5%, but only after swinging between gains and losses numerous times through the day. Microsoft rallied 1.8%, and Facebook climbed 1.5%, but Tesla dropped 3.4%.

Stocks also rose across most international markets. Indexes rallied 1% or more from London to Seoul.


----------



## bigdog

ASX 200 futures pointing higher​
It looks set to be a strong start to the week for the Australian share market following a positive finish on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the week 49 points or 0.7% higher this morning. On Wall Street on Friday night, the Dow Jones rose 1.4%, the S&P 500 jumped 1.7%, and the Nasdaq stormed 1.25% higher. This appears to have been driven partly by weak US inflation data.


----------



## bigdog

*Late fade pushes S&P 500 slightly below its record high*

U.S. stock indexes closed mostly lower Monday, pulling the S&P 500 slightly below the all-time high it set last week, while nudging the Dow Jones Industrial Average to another record high.

The S&P 500 slipped 0.1%, recovering most of a 0.8% slide earlier in the day. Banks had some of the sharpest losses amid worries about how much pain they’ll incur following soured trades made by a major U.S. hedge fund. Technology stocks also fell broadly as China announced more tax breaks to bolster its own chip sector. Gains for Facebook and other market heavyweights helped to limit the S&P 500’s losses.

Treasury yields rose. A widely followed measure of nervousness in the stock market climbed 10.4%. The VIX index, which shows how much volatility traders are bracing for from the S&P 500, remains close to its lowest level since the pandemic rocked markets a year ago.

“It’s high, which indicates people are nervous, but it’s not panicky,” said Tom Martin, senior portfolio manager with Globalt Investments.

The S&P 500 dropped 3.45 points to 3,971.09. The Dow rose 98.49 points, or 0.3%, to 33,171.37. The S&P 500 climbed to an all-time high last week. The Nasdaq lost 79.08 points, or 0.6%, to 13,059.65.

The Russell 2000 index of smaller company stocks fell more than the broader market, shedding 62.80 points, or 2.8%, to 2,158.68. The index is on track to close out March with its first monthly loss since September, though it has still racked up bigger gains so far this year than the other major indexes.

The market’s movements mark the latest ebb for Wall Street, which has been mostly climbing in a series of stops and starts. Supporting the market have been rising expectations that a supercharged economic recovery is on the way thanks to COVID-19 vaccinations, immense spending by the U.S. government and continued low rates from the Federal Reserve. Weighing on stocks at the same time, though, are worries about a coming rise in inflation and possibly too-ebullient prices across the market.

Several key reports on the economy are scheduled for this week, which could help show whether stocks deserve the lofty prices they’ve reached. Among the headliners is Friday’s jobs report, where economists expect to see a big acceleration in hiring.

On Wednesday, President Joe Biden will also give details about his proposal to rebuild roads, bridges and other infrastructure. Shares of raw-material producers have rallied recently on rising expectations for infrastructure spending by Washington, even though many past presidential administrations have failed to make it happen.

On Monday, though, the market’s spotlight was squarely on financial companies after Japanese bank Nomura Holdings and Swiss bank Credit Suisse said they’re facing potentially significant losses because of their dealings with a major client, though the exact magnitude is still unclear.

Nomura estimated the claim against its client could be about $2 billion.

ASX 200 futures pointing higher​The Australian share market looks set to rebound on Tuesday. According to the latest SPI future, the ASX 200 is poised to open 41 points or 0.6% higher this morning. 

This is despite it being a mixed night of trade on Wall Street. On closing, the Dow Jones is up 0.30% but the S&P 500 is down 0.09% and the Nasdaq index has fallen 0.60%. The forced liquidation of positions held by the multibillion-dollar family office Archegos Capital Management has been weighing on US shares.











https://apnews.com/article/financia...ong-shanghai-5dc87738d8abd74048d24dcca92b67f0

*Late fade pushes S&P 500 slightly below its record high*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

U.S. stock indexes closed mostly lower Monday, pulling the S&P 500 slightly below the all-time high it set last week, while nudging the Dow Jones Industrial Average to another record high.

The S&P 500 slipped 0.1%, recovering most of a 0.8% slide earlier in the day. Banks had some of the sharpest losses amid worries about how much pain they’ll incur following soured trades made by a major U.S. hedge fund. Technology stocks also fell broadly as China announced more tax breaks to bolster its own chip sector. Gains for Facebook and other market heavyweights helped to limit the S&P 500’s losses.

Treasury yields rose. A widely followed measure of nervousness in the stock market climbed 10.4%. The VIX index, which shows how much volatility traders are bracing for from the S&P 500, remains close to its lowest level since the pandemic rocked markets a year ago.

“It’s high, which indicates people are nervous, but it’s not panicky,” said Tom Martin, senior portfolio manager with Globalt Investments.

The S&P 500 dropped 3.45 points to 3,971.09. The Dow rose 98.49 points, or 0.3%, to 33,171.37. The S&P 500 climbed to an all-time high last week. The Nasdaq lost 79.08 points, or 0.6%, to 13,059.65.

The Russell 2000 index of smaller company stocks fell more than the broader market, shedding 62.80 points, or 2.8%, to 2,158.68. The index is on track to close out March with its first monthly loss since September, though it has still racked up bigger gains so far this year than the other major indexes.

The market’s movements mark the latest ebb for Wall Street, which has been mostly climbing in a series of stops and starts. Supporting the market have been rising expectations that a supercharged economic recovery is on the way thanks to COVID-19 vaccinations, immense spending by the U.S. government and continued low rates from the Federal Reserve. Weighing on stocks at the same time, though, are worries about a coming rise in inflation and possibly too-ebullient prices across the market.

Several key reports on the economy are scheduled for this week, which could help show whether stocks deserve the lofty prices they’ve reached. Among the headliners is Friday’s jobs report, where economists expect to see a big acceleration in hiring.

On Wednesday, President Joe Biden will also give details about his proposal to rebuild roads, bridges and other infrastructure. Shares of raw-material producers have rallied recently on rising expectations for infrastructure spending by Washington, even though many past presidential administrations have failed to make it happen.

On Monday, though, the market’s spotlight was squarely on financial companies after Japanese bank Nomura Holdings and Swiss bank Credit Suisse said they’re facing potentially significant losses because of their dealings with a major client, though the exact magnitude is still unclear.

Nomura estimated the claim against its client could be about $2 billion.

Credit Suisse said that it “and a number of other banks” are exiting trades they made with a significant U.S.-based hedge fund, which defaulted on a “margin call” last week. A margin call happens when a broker tells a client to put up cash after it borrowed money to make trades. Neither Credit Suisse nor Nomura named the client, but news reports identified it as New York-based Archegos Capital Management.

Shares of Credit Suisse and Nomura each fell at least 16% in their home countries, and U.S. banks got caught in the downdraft as investors question whether the soured trades will stay isolated or have a more widespread effect through the system.

“This is sort of an example of the leverage you don’t see,” Martin said. “We all know there’s a fair amount of debt out there, but what we don’t know is how much of this is out there.”

Morgan Stanley fell 2.6%, and financial stocks across the S&P 500 lost 0.9% for one of the sharpest losses among the 11 sectors that make up the index.

Among the winners was Boeing, which rose 2.3% after Southwest Airlines said it will order 100 737 MAX airplanes. Regulators in the United States and other countries have cleared the plane model to resume flying, after it was grounded worldwide in 2019 after two crashes that killed 346 people.

The yield on the 10-year Treasury rose to 1.71% from 1.66% late Friday.


----------



## bigdog

*US stocks slip in mixed trading as rate pressure ratchets up*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Rising Treasury yields put pressure once more on big technology companies Tuesday, pulling U.S. stock indexes further below their recent all-time highs.

The S&P 500 lost 0.3%. Health care stocks also dragged down the market, outweighing gains by banks, industrial stocks and companies that rely on consumer spending. Smaller companies bucked the downward trend, powering the Russell 2000 index to a 1.7% gain.

Treasury yields perked higher after a report showed that consumers are feeling even more confident than economists expected, a big deal for an economy that’s primarily made up of consumer spending. Meanwhile, President Joe Biden was set to unveil details Wednesday about plans to spend what could be more than $3 trillion on infrastructure and other measures to help the economy and environment.

The consumer confidence report, and the prospect of more massive government spending, fueled a sell-off in U.S. bonds, driving their yields higher.

“This is spooking debt investors,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors.

The S&P 500 slid 12.54 to 3,958.55, its second decline in a row. The Dow Jones Industrial Average dropped 104.41 from the all-time high it set a day before, or 0.3%, to 33,066.96. The Nasdaq composite fell 14.25, or 0.1%, to 13,045.39. The Russell 2000 rose 37.11 to 2,195.80.

The spotlight was again on the bond market, where the yield on the 10-year Treasury rose to 1.73% from 1.72% late Monday. It has jumped from roughly 0.90% at the start of the year with rising expectations for coming economic growth and possibly inflation.

When bonds pay more in interest, they can make investors less willing to pay high prices for stocks, particularly those seen as the most expensive. Companies that ask their investors to wait years for big profit growth to come to fruition are also hard hit, which has many big technology stocks feeling the most pain from rising rates.

Broadcom fell 3.5% and Cisco Systems dropped 1.4%. Tech giants also fell, including a 1.2% slide by Apple and a 1.4% drop by Microsoft. They were some of the biggest winners earlier in the pandemic, rallying on expectations that they can grow in the future, regardless of whether the economy is locked down by a virus.

Despite the pressure on big tech stocks, most professional investors remain optimistic that the broader market can keep rising. A stronger economy thanks to COVID-19 vaccinations and massive spending by the U.S. government should help boost profits for many companies this year, particularly those like banks, energy producers and industrial companies.

Much of the market’s choppiness is reflecting that expectation. Investors have been shifting money away from companies like Amazon and Netflix, which benefited from a world on lockdown, to airlines, automakers and others that are poised to benefit from a broader reopening.

“Big picture-wise, we’re moving in the direction of a rebalance trade,” said Greg Bassuk, chairman and CEO of AXS Investments. “In the next immediate period we’re going to continue to see significant volatility.”

Financial stocks rallied, in part because higher longer-term interest rates mean bigger profits from making loans.

ASX 200 expected to rebound​The Australian share market looks set to rebound on Wednesday despite a weak night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 55 points or 0.8% higher this morning. 

Wall Street closing, saw the Dow Jones down 0.31%, the S&P 500 down 0.32%, and the Nasdaq was down 0.11%










https://apnews.com/article/financia...cial-markets-814aa07fbc9f414376a60306f0949227

*US stocks slip in mixed trading as rate pressure ratchets up*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Rising Treasury yields put pressure once more on big technology companies Tuesday, pulling U.S. stock indexes further below their recent all-time highs.

The S&P 500 lost 0.3%. Health care stocks also dragged down the market, outweighing gains by banks, industrial stocks and companies that rely on consumer spending. Smaller companies bucked the downward trend, powering the Russell 2000 index to a 1.7% gain.

Treasury yields perked higher after a report showed that consumers are feeling even more confident than economists expected, a big deal for an economy that’s primarily made up of consumer spending. Meanwhile, President Joe Biden was set to unveil details Wednesday about plans to spend what could be more than $3 trillion on infrastructure and other measures to help the economy and environment.

The consumer confidence report, and the prospect of more massive government spending, fueled a sell-off in U.S. bonds, driving their yields higher.

“This is spooking debt investors,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors.

The S&P 500 slid 12.54 to 3,958.55, its second decline in a row. The Dow Jones Industrial Average dropped 104.41 from the all-time high it set a day before, or 0.3%, to 33,066.96. The Nasdaq composite fell 14.25, or 0.1%, to 13,045.39. The Russell 2000 rose 37.11 to 2,195.80.

The spotlight was again on the bond market, where the yield on the 10-year Treasury rose to 1.73% from 1.72% late Monday. It has jumped from roughly 0.90% at the start of the year with rising expectations for coming economic growth and possibly inflation.

When bonds pay more in interest, they can make investors less willing to pay high prices for stocks, particularly those seen as the most expensive. Companies that ask their investors to wait years for big profit growth to come to fruition are also hard hit, which has many big technology stocks feeling the most pain from rising rates.

Broadcom fell 3.5% and Cisco Systems dropped 1.4%. Tech giants also fell, including a 1.2% slide by Apple and a 1.4% drop by Microsoft. They were some of the biggest winners earlier in the pandemic, rallying on expectations that they can grow in the future, regardless of whether the economy is locked down by a virus.

Despite the pressure on big tech stocks, most professional investors remain optimistic that the broader market can keep rising. A stronger economy thanks to COVID-19 vaccinations and massive spending by the U.S. government should help boost profits for many companies this year, particularly those like banks, energy producers and industrial companies.

Much of the market’s choppiness is reflecting that expectation. Investors have been shifting money away from companies like Amazon and Netflix, which benefited from a world on lockdown, to airlines, automakers and others that are poised to benefit from a broader reopening.

“Big picture-wise, we’re moving in the direction of a rebalance trade,” said Greg Bassuk, chairman and CEO of AXS Investments. “In the next immediate period we’re going to continue to see significant volatility.”

Financial stocks rallied, in part because higher longer-term interest rates mean bigger profits from making loans.

Big financial stocks also climbed as investors see losses for the industry due to soured trades for a big U.S. hedge fund last week staying isolated to a few players, rather than cascading through the financial system. Japanese bank Nomura and Swiss bank Credit Suisse said Monday that they’re facing potentially significant losses because of their dealings with a major client. Nomura estimated the claim against its client could be about $2 billion. JPMorgan banking analyst Kian Abouhossein said in a research note Tuesday that the total overall losses could range between $5 billion to $10 billion.

Comerica gained 5.1%. Goldman Sachs rose 1.9%, and Morgan Stanley gained 1.6%. Reports said the two financial giants were able to limit their losses by quickly selling stocks held by the hedge fund, which amassed big ownership stakes in companies using borrowed money. The banks have not named the fund, but reports have identified it as Archegos Capital Management.

ViacomCBS and Discovery rose 3.6% and 5.4%, respectively, snapping a multiday slump. The stocks had been in a skid, reportedly as part of heavy selling related to the Archegos saga.


----------



## bigdog

S&P 500 climbs, closing out its 4th straight quarterly gain​Wall Street closed out March with a mostly higher finish for U.S. stock indexes and the market’s fourth straight quarterly gain.

The S&P 500 rose 0.4% Wednesday, bringing its gain for the first three months of the year to 5.8%, despite a loss for January. The gain for the benchmark index, which tracks large U.S. companies, was eclipsed by the 12.4% jump in a popular index that tracks small-company stocks.

Technology stocks powered much of S&P 500’s latest gains, even though more stocks in the index fell than rose. Solid gains by Apple, Microsoft and Nvidia, and companies that rely on consumer spending, outweighed a pullback in financial, energy and materials stocks.

After the stock market closed, President Joe Biden started a speech in which he’ll discuss his plan to spend $2 trillion on strengthening the nation’s infrastructure, and how to pay for it.

The S&P 500 rose 14.34 points to 3,972.89. It was the index’s first gain since it set a record high at the end of last week. A late-afternoon fade pulled the Dow Jones Industrial Average 85.41 points lower, or a drop of 0.3%, to 32,981.55. The tech-heavy Nasdaq composite climbed 201.48 points, or 1.5%, to 13,246.87.

Stocks of smaller companies once again posted a strong showing. The stocks have outpaced the broader market on rising expectations for the economy. The Russell 2000 index rose 24.72 points, or 1.1%, to 2,220.52. It ended the quarter with a 12.4% gain, more than double that of the big stocks in the S&P 500.

Tech stocks and companies expected to deliver big growth in the future were big winners. Apple climbed 1.9%, and Tesla rose 5.1%. It’s a reprieve for the group, which led the market earlier in the pandemic but has since lost momentum amid a sharp rise in Treasury yields.

The 10-year Treasury yield inched up to 1.74%, though it remains close to its highest level since before the pandemic rocked markets a year ago. COVID-19 vaccinations and massive spending plans by Washington have raised expectations for supercharged economic growth and a possible rise in inflation, which has pushed yields higher.

Investors will be closely watching for details on the infrastructure plan to get a better sense of future priorities, said Rob Haworth, senior investment strategy director at U.S. Bank Wealth Management. Friday’s government jobs report is also highly anticipated.

“The question for the market is, what’s next?” said Rob Haworth, senior investment strategy director at U.S. Bank Wealth Management. “March in particular has been a bit of a pause for the market to recalibrate.”

Within the S&P 500 index, the leaderboard of performance during the first quarter ended up being virtually the mirror image of earlier in the pandemic, with energy producers, financial businesses and industrial companies leading the way.

The index’s 11 sectors notched gains in the first quarter, with energy topping the list with a nearly 30% gain. A year ago, it was down 37.3%. Technology, which a year ago led the market with a 42.2% gain, rose just 1.7% in the first three months of this year. Banks closed out the quarter with a 15.4% gain. The consumer staples sector lagged the rest of the market with a 0.5% gain.

ASX 200 futures pointing higher​The Australian share market looks set to start the month in a positive fashion following a solid night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 30 points or 0.45% higher. On closing Wall Street, the Dow Jones is down 0.26%, the S&P 500 had risen 0.36%, and the Nasdaq jumped 1.54%.

Tech shares on watch​It could be a good day for ASX tech shares such as *Xero Limited* (ASX: XRO) and *Zip Co Ltd* (ASX: Z1P) on Thursday after US tech stocks surged higher during overnight trade. On closing, the tech-focused Nasdaq index is up a sizeable 1.54%. Strong gains by a number of tech giants have helped drive the index higher.










https://wtmj.com/ap-news/2021/03/31/sp-500-climbs-closing-out-its-4th-straight-quarterly-gain-3/

S&P 500 climbs, closing out its 4th straight quarterly gain​By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Wall Street closed out March with a mostly higher finish for U.S. stock indexes and the market’s fourth straight quarterly gain.

The S&P 500 rose 0.4% Wednesday, bringing its gain for the first three months of the year to 5.8%, despite a loss for January. The gain for the benchmark index, which tracks large U.S. companies, was eclipsed by the 12.4% jump in a popular index that tracks small-company stocks.

Technology stocks powered much of S&P 500’s latest gains, even though more stocks in the index fell than rose. Solid gains by Apple, Microsoft and Nvidia, and companies that rely on consumer spending, outweighed a pullback in financial, energy and materials stocks.

After the stock market closed, President Joe Biden started a speech in which he’ll discuss his plan to spend $2 trillion on strengthening the nation’s infrastructure, and how to pay for it.

The S&P 500 rose 14.34 points to 3,972.89. It was the index’s first gain since it set a record high at the end of last week. A late-afternoon fade pulled the Dow Jones Industrial Average 85.41 points lower, or a drop of 0.3%, to 32,981.55. The tech-heavy Nasdaq composite climbed 201.48 points, or 1.5%, to 13,246.87.

Stocks of smaller companies once again posted a strong showing. The stocks have outpaced the broader market on rising expectations for the economy. The Russell 2000 index rose 24.72 points, or 1.1%, to 2,220.52. It ended the quarter with a 12.4% gain, more than double that of the big stocks in the S&P 500.

Tech stocks and companies expected to deliver big growth in the future were big winners. Apple climbed 1.9%, and Tesla rose 5.1%. It’s a reprieve for the group, which led the market earlier in the pandemic but has since lost momentum amid a sharp rise in Treasury yields.

The 10-year Treasury yield inched up to 1.74%, though it remains close to its highest level since before the pandemic rocked markets a year ago. COVID-19 vaccinations and massive spending plans by Washington have raised expectations for supercharged economic growth and a possible rise in inflation, which has pushed yields higher.

In his speech in Pittsburgh, Biden was giving details about where he wants to steer federal dollars to rebuild roads, bridges and the electric grid. Such programs could mean gushers of revenue for everything from raw-material producers to electric-vehicle makers.

To help pay for it, though, businesses may be looking at higher corporate tax rates, which would pressure their profits. Some investors also worry that all the spending and borrowing by the U.S. government could eventually lead to even higher interest rates for the economy.

Investors will be closely watching for details on the infrastructure plan to get a better sense of future priorities, said Rob Haworth, senior investment strategy director at U.S. Bank Wealth Management. Friday’s government jobs report is also highly anticipated.

“The question for the market is, what’s next?” said Rob Haworth, senior investment strategy director at U.S. Bank Wealth Management. “March in particular has been a bit of a pause for the market to recalibrate.”

Within the S&P 500 index, the leaderboard of performance during the first quarter ended up being virtually the mirror image of earlier in the pandemic, with energy producers, financial businesses and industrial companies leading the way.

The index’s 11 sectors notched gains in the first quarter, with energy topping the list with a nearly 30% gain. A year ago, it was down 37.3%. Technology, which a year ago led the market with a 42.2% gain, rose just 1.7% in the first three months of this year. Banks closed out the quarter with a 15.4% gain. The consumer staples sector lagged the rest of the market with a 0.5% gain.

Energy producers, banks and industrial companies have shot higher, along with smaller stocks, on expectations that a return to normalcy for the economy and Washington’s huge spending will mean big jumps in profit later this year. It’s a turnaround from earlier in the pandemic, when they plunged on uncertainty about when airplanes may be full again and burning jet fuel.

Stocks of companies that had been winners in the stay-at-home economy or that had been bid up on expectations for strong growth many years into the future, meanwhile, have lagged. Apple declined 7.9% in the first quarter, for example, while American Airlines Group climbed 51.6% higher.

App-based meal delivery service Deliveroo slumped 26.3% in its U.K. stock market debut. The weak showing came even after the stock was priced at the bottom of its potential range, reflecting investor wariness about whether Deliveroo could turn a profit as well as a growing backlash against “gig economy” companies and concerns over how they treat their workers.


----------



## bigdog

*Wall Street closes higher, pushing S&P 500 past 4,000 points*

NYSE will be re-open on Monday April 5 for trading

Wall Street kicked April off with a milestone Thursday, as a tech company rally helped drive the S&P 500 past the 4,000 mark for the first time.

The benchmark index finished 1.2% higher a day after closing out the first three months of the year with its fourth straight quarterly gain. Microsoft, Apple, Facebook and Google’s parent company were among the winners, along with smaller companies, which stand to benefit from a quickly growing economy. Health care, household goods stocks and utilities were the only laggards.

Technology stocks benefited from another drop in bond yields, which have been the driving force for the market for several weeks. The yield on the 10-year U.S. Treasury note fell to 1.69% from 1.73% the day before. Higher bond yields make stocks seem more expensive by comparison, and tech stocks are among the most expensive after their significant rise last year. Microsoft rose 2.8%, Facebook gained 1.4%, Amazon.com added 2.2% and Google parent Alphabet closed 3.3% higher.

“What a great way to start the second quarter,” said J.J. Kinahan, chief strategist with TD Ameritrade. “There’s money out there looking to be put to work, and with the quarter ending it looks like people are finding new ways in a new quarter to find opportunities.”

The S&P 500 rose 46.98 to 4,019.87. The index’s latest all-time high is its second in seven days. The Dow Jones Industrial Average gained 171.66 points, or 0.5%, to 33,153.21. The technology-heavy Nasdaq climbed 233.23 points, or 1.8%, to 13,480.11.

Smaller companies continued to notch solid gains. The Russell 2000 index picked up 33.38 points, or 1.5%, to 2,253.90.

The rally capped a holiday-shortened week for the stock market. U.S. stock exchanges will be closed in observance of Good Friday, though bond trading will be open for half a day, closing at noon Eastern.

Companies that would benefit from greater sales of electric vehicles also rose Thursday, a day after President Joe Biden outlined various measures to support their use as part of his massive infrastructure plan. Part of that plan includes installation of thousands of additional charging stations around the country. Electric vehicle charger operator ChargePoint gained 11.8%.

 Investors continue to monitor news about how well the U.S. economy is recovering from the coronavirus pandemic, now that millions of vaccines are being administered daily to Americans as well as around the world











https://apnews.com/article/joe-bide...tralia-tokyo-d654f27faccf28a64210b928702b09fe

*Wall Street closes higher, pushing S&P 500 past 4,000 points*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street kicked April off with a milestone Thursday, as a tech company rally helped drive the S&P 500 past the 4,000 mark for the first time.

The benchmark index finished 1.2% higher a day after closing out the first three months of the year with its fourth straight quarterly gain. Microsoft, Apple, Facebook and Google’s parent company were among the winners, along with smaller companies, which stand to benefit from a quickly growing economy. Health care, household goods stocks and utilities were the only laggards.

Technology stocks benefited from another drop in bond yields, which have been the driving force for the market for several weeks. The yield on the 10-year U.S. Treasury note fell to 1.69% from 1.73% the day before. Higher bond yields make stocks seem more expensive by comparison, and tech stocks are among the most expensive after their significant rise last year. Microsoft rose 2.8%, Facebook gained 1.4%, Amazon.com added 2.2% and Google parent Alphabet closed 3.3% higher.

“What a great way to start the second quarter,” said J.J. Kinahan, chief strategist with TD Ameritrade. “There’s money out there looking to be put to work, and with the quarter ending it looks like people are finding new ways in a new quarter to find opportunities.”

The S&P 500 rose 46.98 to 4,019.87. The index’s latest all-time high is its second in seven days. The Dow Jones Industrial Average gained 171.66 points, or 0.5%, to 33,153.21. The technology-heavy Nasdaq climbed 233.23 points, or 1.8%, to 13,480.11.

Smaller companies continued to notch solid gains. The Russell 2000 index picked up 33.38 points, or 1.5%, to 2,253.90.

The rally capped a holiday-shortened week for the stock market. U.S. stock exchanges will be closed in observance of Good Friday, though bond trading will be open for half a day, closing at noon Eastern.

Companies that would benefit from greater sales of electric vehicles also rose Thursday, a day after President Joe Biden outlined various measures to support their use as part of his massive infrastructure plan. Part of that plan includes installation of thousands of additional charging stations around the country. Electric vehicle charger operator ChargePoint gained 11.8%.

Investors continue to monitor news about how well the U.S. economy is recovering from the coronavirus pandemic, now that millions of vaccines are being administered daily to Americans as well as around the world.

Consumer sentiment has been improving along with construction spending and other measures. The improving economy is prompting investors to shift more money into companies and sectors that will benefit from people getting back to some semblance of a pre-pandemic normal.

The market has been churning while dealing with that shift as beaten-down sectors like airlines and industrial companies start to recover.

“In a way, the churn has reflected health, because more sectors are participating in the moves,” said Ross Mayfield, investment strategy analyst at Baird.

While investors are optimistic that things will recover soon, there’s still a lot of economic pain to go around.

Airlines have been making gains this year as more people bet on a budding recovery for travel, but the industry still faces turbulence ahead. Discount carrier Frontier Airlines underwhelmed on its first day of public trading. The Denver-based airline opened at $18.61, below the low end of a $19 to $21 price target, and closed at $18.85.

The Labor Department said the number of Americans who filed for unemployment benefits last week rose to 719,000 last week from 658,000 the previous week. That figure was expected to decline. The government will release its monthly jobs report on Friday.

“The employment market is going to be the thing to watch,” Mayfield said. “We’re kind of in a transition period and at some point we’re going to need to see improvement there.”


----------



## bigdog

*Stocks close broadly higher following big job gains in March*

Stocks on Wall Street notched broad gains Monday as investors welcomed more signs that the economy is on the path to recovery,

The S&P 500 rose 1.4% to an all-time high after closing above the 4,000-point mark for the first time last Thursday. The Dow Jones Industrial Average also set a record high, as the market extended its recent run of gains. Technology companies powered much of the rally, which was a reaction to encouraging data on the economy.

The U.S. government reported last week that employers went on a hiring spree in March, adding 916,000 jobs, the most since August. Traders had a delayed reaction to the encouraging jobs report, which was released on Friday when stock trading was closed. Investors were further encouraged by a report Monday showing that the services sector recorded record growth in March as orders, hiring and prices surged.

Both employment and the services industry have been lagging other areas of the economy throughout the recovery. Analysts have said that both need to show signs of growth in order for the recovery to remain on track. COVID-19 and the potential for a spike in cases remains a concern, but the strong rollout of vaccinations is making an eventual return to normal for many people seem clearer and closer.

“The jobs report underscored the rebound in the labor market,” said Quincy Krosby, chief market strategist at Prudential Financial. “The only thing that can stymie this rebound, this recovery, will be that COVID-19 launches another wave.”

The S&P 500 rose 58.04 points to 4,077.91. The benchmark index is coming off two straight weekly gains. The Dow picked up 373.98 points, or 1.1%, to 33,527.19. The Nasdaq composite gained 225.49 points, or 1.7%, to 13,705.59.

Small company stocks, which are outgaining the broader market so far this year, also rose Monday. The Russell 2000 index of smaller companies added 10.98 points, or 0.5%, to 2,264.89. The index is up 14.7% so far this year, while the broader market S&P 500 index is up 8.6%.

The gains were widespread Monday, with nearly every sector closing higher. Companies that stand to benefit from a broader reopening of the economy and economic growth also did well. Norwegian Cruise Line jumped 7.2% for the biggest gain in the S&P 500 as it seeks permission to restart cruises out of U.S. ports in July with a vaccination requirement for passengers and crew members. Rival Carnival rose 4.7% and Royal Caribbean gained 2.9%.

Technology and communications stocks accounted for a big slice of the gains Monday. Apple rose 2.4%, Microsoft gained 2.8% and Facebook climbed 3.4%. Tesla surprised investors with a report that vehicle deliveries doubled during the first quarter. Its shares surged 4.4%.

Energy companies lagged the broader market as crude oil prices fell, including a 4.6% slide in the price of U.S. crude. Occidental Petroleum dropped 7..6% and Marathon Oil slid 5.1%.

ASX 200 futures pointing higher​
The Australian share market could have a strong start to the week. According to the most recent SPI futures, the ASX 200 is expected to open the week 23 points or 0.3% higher. However, it is worth noting that these contracts are based on pre-Easter trading. Since then, the US market has stormed to record highs, so the gains could be far stronger at the open. On Monday night the Dow Jones rose 1.13%, the S&P 500 climbed 1.44%, and the Nasdaq jumped 1.67%.










https://apnews.com/article/financia...andemic-asia-8e71376da78ee26e499bbdb9713fadc1

*Stocks close broadly higher following big job gains in March*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks on Wall Street notched broad gains Monday as investors welcomed more signs that the economy is on the path to recovery,

The S&P 500 rose 1.4% to an all-time high after closing above the 4,000-point mark for the first time last Thursday. The Dow Jones Industrial Average also set a record high, as the market extended its recent run of gains. Technology companies powered much of the rally, which was a reaction to encouraging data on the economy.

The U.S. government reported last week that employers went on a hiring spree in March, adding 916,000 jobs, the most since August. Traders had a delayed reaction to the encouraging jobs report, which was released on Friday when stock trading was closed. Investors were further encouraged by a report Monday showing that the services sector recorded record growth in March as orders, hiring and prices surged.

Both employment and the services industry have been lagging other areas of the economy throughout the recovery. Analysts have said that both need to show signs of growth in order for the recovery to remain on track. COVID-19 and the potential for a spike in cases remains a concern, but the strong rollout of vaccinations is making an eventual return to normal for many people seem clearer and closer.

“The jobs report underscored the rebound in the labor market,” said Quincy Krosby, chief market strategist at Prudential Financial. “The only thing that can stymie this rebound, this recovery, will be that COVID-19 launches another wave.”

The S&P 500 rose 58.04 points to 4,077.91. The benchmark index is coming off two straight weekly gains. The Dow picked up 373.98 points, or 1.1%, to 33,527.19. The Nasdaq composite gained 225.49 points, or 1.7%, to 13,705.59.

Small company stocks, which are outgaining the broader market so far this year, also rose Monday. The Russell 2000 index of smaller companies added 10.98 points, or 0.5%, to 2,264.89. The index is up 14.7% so far this year, while the broader market S&P 500 index is up 8.6%.

The gains were widespread Monday, with nearly every sector closing higher. Companies that stand to benefit from a broader reopening of the economy and economic growth also did well. Norwegian Cruise Line jumped 7.2% for the biggest gain in the S&P 500 as it seeks permission to restart cruises out of U.S. ports in July with a vaccination requirement for passengers and crew members. Rival Carnival rose 4.7% and Royal Caribbean gained 2.9%.

Technology and communications stocks accounted for a big slice of the gains Monday. Apple rose 2.4%, Microsoft gained 2.8% and Facebook climbed 3.4%. Tesla surprised investors with a report that vehicle deliveries doubled during the first quarter. Its shares surged 4.4%.

Energy companies lagged the broader market as crude oil prices fell, including a 4.6% slide in the price of U.S. crude. Occidental Petroleum dropped 7..6% and Marathon Oil slid 5.1%.

GameStop fell 2.4% after announcing a stock sale.

Treasury yields were mostly lower. The yield on the 10-year Treasury note, which influences interest rates on mortgages and other consumer loans, slipped to 1.71% from 1.72% last last week.


----------



## bigdog

*Stocks slip on Wall Street as market eases back from records*

A wobbly day of trading on Wall Street left stocks slightly lower Tuesday, pulling the market back from the all-time highs it reached a day earlier.

The S&P 500 snapped a three-day winning streak, slipping 0.1% after wavering between small gains and losses much of the afternoon. Stocks within the benchmark index were nearly evenly split between gainers and losers. Technology and health care stocks accounted for much of the decline.

Financial stocks fell as bond yields eased. That countered broader gains from companies that are depending on continued economic growth to recover. Oil prices rose.

Much of the gyrations within the market lately are occurring as Wall Street assesses the health and speed of the economic recovery.

There’s been strong support for many of the sectors and companies beaten down by the pandemic as vaccine distribution helps businesses reopen, while government stimulus helps shore up businesses in the interim. Even as that shift occurs, technology and other stocks that benefitted from the shutdowns still look fundamentally strong, said Jeff Buchbinder, equity strategist at LPL Financial.

“We’re seeing this battle play out here in markets every day,” he said. “That’s going to drive some churn.”

The S&P 500 lost 3.97 points to 4,073.94. The Dow Jones Industrial Average fell 96.95 points, or 0.3%, to 33,430.24. Both indexes set all-time highs Monday. The tech-heavy Nasdaq composite slipped 7.21 points, or 0.1%, to 13,698.38.

Small company stocks, which have been outgaining the broader market this year, also fell. The Russell 2000 index of smaller companies gave up 5.73 points, or 0.3%, to 2,259.15. The index is up 14.4% so far this year, while the S&P 500, which tracks large companies, is up 8.5%.

Bond yields fell. The yield on the 10-year Treasury slipped to 1.65% from 1.72% late Monday. That helped pull banks lower, as they rely on higher yields to charge more lucrative interest on loans. JPMorgan Chase fell 0.7%.

Investors have been weighing concerns about higher inflation as the economy grows, along with expectations that retailers and other service sector stocks will make solid gains as the world moves past the pandemic and returns to some semblance of normalcy.

ASX 200 expected to fall​
The Australian share market looks set to give back some of its gains on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 9 points or 0.1% lower this morning. This follows a weak night of trade on Wall Street, which saw the Dow Jones fall 0.29%, the S&P 500 drop 0.1%, and the Nasdaq edge lower by 0.05%.










https://apnews.com/article/financia...andemic-asia-fd2d26fa7aaea9f21a8fae6554ac93ba

*Stocks slip on Wall Street as market eases back from records*

By DAMIAN J. TROISE and ALEX VEIGA

A wobbly day of trading on Wall Street left stocks slightly lower Tuesday, pulling the market back from the all-time highs it reached a day earlier.

The S&P 500 snapped a three-day winning streak, slipping 0.1% after wavering between small gains and losses much of the afternoon. Stocks within the benchmark index were nearly evenly split between gainers and losers. Technology and health care stocks accounted for much of the decline.

Financial stocks fell as bond yields eased. That countered broader gains from companies that are depending on continued economic growth to recover. Oil prices rose.

Much of the gyrations within the market lately are occurring as Wall Street assesses the health and speed of the economic recovery.

There’s been strong support for many of the sectors and companies beaten down by the pandemic as vaccine distribution helps businesses reopen, while government stimulus helps shore up businesses in the interim. Even as that shift occurs, technology and other stocks that benefitted from the shutdowns still look fundamentally strong, said Jeff Buchbinder, equity strategist at LPL Financial.

“We’re seeing this battle play out here in markets every day,” he said. “That’s going to drive some churn.”

The S&P 500 lost 3.97 points to 4,073.94. The Dow Jones Industrial Average fell 96.95 points, or 0.3%, to 33,430.24. Both indexes set all-time highs Monday. The tech-heavy Nasdaq composite slipped 7.21 points, or 0.1%, to 13,698.38.

Small company stocks, which have been outgaining the broader market this year, also fell. The Russell 2000 index of smaller companies gave up 5.73 points, or 0.3%, to 2,259.15. The index is up 14.4% so far this year, while the S&P 500, which tracks large companies, is up 8.5%.

Bond yields fell. The yield on the 10-year Treasury slipped to 1.65% from 1.72% late Monday. That helped pull banks lower, as they rely on higher yields to charge more lucrative interest on loans. JPMorgan Chase fell 0.7%.

Investors have been weighing concerns about higher inflation as the economy grows, along with expectations that retailers and other service sector stocks will make solid gains as the world moves past the pandemic and returns to some semblance of normalcy.

Retailers, cruise lines and hotel operators were among the winners Tuesday. Gap rose 2.5%, Norwegian Cruise Line added 4.6%, and Wynn Resorts gained 4%. Alaska Air Group climbed 3.7%, while Delta Air Lines closed 2.8% higher.

The International Monetary Fund expects global economic growth to accelerate this year as vaccine distribution ramps up and the world rebounds. The 190-country lending agency said it expects the world economy to expand 6% in 2021, up from the 5.5% it had forecast in January. That would be the fastest expansion in IMF records dating back to 1980.

The Labor Department in the U.S. reported that job openings reached the highest level on record in February, a harbinger of healthy hiring and a hopeful sign for those looking for work. That upbeat report follows encouraging reports over the last week on job growth and improvements in the services sector, which is one of the hardest hit areas of the economy from the pandemic.

Swiss bank Credit Suisse said it expects a $4.7 billion loss related to a default of by a U.S. hedge fund. Two top executives are leaving the bank. Credit Suisse also suspended a stock buyback program and cut its dividend. The bank’s U.S.-listed shares, which already fell sharply last week after initial news of the default came out, rose 0.9% Tuesday.


----------



## bigdog

*US stocks close mixed; S&P 500 notches another record high*

Wall Street capped another choppy day of trading Wednesday with a mixed finish for stock indexes and another all-time high for the S&P 500.

The benchmark index inched up 0.1% after spending much of the day wavering between small gains and losses. Technology, communication and financial companies helped lift the market, offsetting a pullback led by industrials, materials and health care stocks. Treasury yields were also mixed.

The broader market has been mostly subdued this week as investors remain cautiously optimistic about the economic recovery. Vaccine distribution has been ramping up and President Joe Biden has bumped up his deadline for states to make doses available to all adults by April 19. The vaccines are helping to fuel a recovery, but the virus is still very much a threat as variants are discovered and threaten additional lockdowns.

The S&P 500 rose 6.01 points to 4,079.95. The Dow Jones Industrial Average gained 16.02 points, or 0.1%, to 33,446.26. The Nasdaq composite slipped 9.54 points, or 0.1%, to 13,688.84. The S&P 500 and Dow each set record highs on Monday.

Small company stocks, which have been outgaining the broader market this year, took the brunt of the selling. The Russell 2000 index of smaller companies gave up 36.10 points, or 1.6%, to 2,223.05. The index is up 12.6% so far this year, while the S&P 500, which tracks large companies, is up 8.6%.

Analysts expect the economy to recover this year, but they also anticipate the market remain choppy as investors shift money to companies and industries that stand to benefit as the pandemic eases.

Carnival, which essentially shut down during the pandemic, rose 1.4% Wednesday. The company said bookings have picked up. Other cruise line operators also gained ground as they plan to restart operations.

The yield on the 10-year Treasury inched up to 1.66% after moving up and down for much of the day. A sharp increase in bond yields since the beginning of the year reflects a growing concern among investors that inflation could return as economic growth heats up and the U.S. pulls out of its pandemic-induced recession. Higher yields can slow down the economy by making it more expensive for people and businesses to borrow money.

The stock indexes were little changed Wednesday following the release of minutes from the Federal Reserve’s latest meeting on interest rate policy.

ASX 200 futures pointing higher​
The Australian share market looks set to continue its positive run on Thursday despite a mixed night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 33 points or 0.5% higher. 

Over in the United States, the Dow Jones rose 0.05%, the S&P 500 climbed 0.15%, and the Nasdaq edged 0.07% lower.










https://apnews.com/article/joe-bide...rus-pandemic-c965b3a748354b852bb08c2d88ee83b3

*US stocks close mixed; S&P 500 notches another record high*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped another choppy day of trading Wednesday with a mixed finish for stock indexes and another all-time high for the S&P 500.

The benchmark index inched up 0.1% after spending much of the day wavering between small gains and losses. Technology, communication and financial companies helped lift the market, offsetting a pullback led by industrials, materials and health care stocks. Treasury yields were also mixed.

The broader market has been mostly subdued this week as investors remain cautiously optimistic about the economic recovery. Vaccine distribution has been ramping up and President Joe Biden has bumped up his deadline for states to make doses available to all adults by April 19. The vaccines are helping to fuel a recovery, but the virus is still very much a threat as variants are discovered and threaten additional lockdowns.

The S&P 500 rose 6.01 points to 4,079.95. The Dow Jones Industrial Average gained 16.02 points, or 0.1%, to 33,446.26. The Nasdaq composite slipped 9.54 points, or 0.1%, to 13,688.84. The S&P 500 and Dow each set record highs on Monday.

Small company stocks, which have been outgaining the broader market this year, took the brunt of the selling. The Russell 2000 index of smaller companies gave up 36.10 points, or 1.6%, to 2,223.05. The index is up 12.6% so far this year, while the S&P 500, which tracks large companies, is up 8.6%.

Analysts expect the economy to recover this year, but they also anticipate the market remain choppy as investors shift money to companies and industries that stand to benefit as the pandemic eases.

Carnival, which essentially shut down during the pandemic, rose 1.4% Wednesday. The company said bookings have picked up. Other cruise line operators also gained ground as they plan to restart operations.

The yield on the 10-year Treasury inched up to 1.66% after moving up and down for much of the day. A sharp increase in bond yields since the beginning of the year reflects a growing concern among investors that inflation could return as economic growth heats up and the U.S. pulls out of its pandemic-induced recession. Higher yields can slow down the economy by making it more expensive for people and businesses to borrow money.

The stock indexes were little changed Wednesday following the release of minutes from the Federal Reserve’s latest meeting on interest rate policy.

The minutes revealed that Fed officials were encouraged last month by evidence the U.S. economy was picking up, but they showed no sign of moving closer to ending their bond purchases or lifting their benchmark short-term interest rate from nearly zero.

Fed policymakers also said they expect inflation will likely rise in the next few months because of supply bottlenecks, but they believe it will remain near their 2% target over the longer run.

“Nothing was all that surprising from the minutes,” said Stephanie Roth, senior markets economist at J.P. Morgan Private Bank. “The Fed is watching closely, not just the unemployment rate, but they’re really focusing on bringing back the population that has fallen out of the labor force.”

The minutes are from a Fed meeting that came before last week’s March jobs report, which showed a surprisingly strong 916,000 positions were added that month, the most since August, and the unemployment rate fell to 6% from 6.2%.


----------



## bigdog

*Stocks rise as lower bond yields help lift tech companies*

Technology companies led stocks to more gains on Wall Street Thursday, nudging the S&P 500 to an all-time high for the third time this week.

The benchmark index rose 0.4% and is on track for its third straight weekly gain. Stocks within the S&P 500 were about evenly split between gainers and losers, with technology companies driving much of the rally. Those gains were tempered mainly by a slide in energy stocks and real estate companies.

Bond yields, which had been steadily ticking higher, continued to inch back from the highs they hit earlier in the month. The yield on the 10-year U.S. Treasury note, which influences interest rates on mortgages and other loans, fell to 1.63% from 1.65% late Wednesday. It had been as high as 1.75% on Monday.

That pullback in yields took some pressure off technology stocks, which have slipped over the last few months as yields jumped and made the shares look pricey. The sector has also seen choppy trading as investors shift more money into companies that stand to benefit from the economic recovery.

“We expect rates to rise because the economy is looking better,” said Sylvia Jablonski, chief investment officer at Defiance ETFs. “I don’t think that the 10-year (Treasury yield) moving around in the short term is really an issue for the market.”

The S&P 500 rose 17.22 points to 4,097.17. The index also set record highs on Monday and Wednesday. The Dow Jones Industrial Average gained 57.31 points, or 0.2%, to 33,503.57. The tech-heavy Nasdaq composite climbed 140.47 points, or 1%, to 13,829.31.

Small company stocks, which have been outpacing the broader market this year, also had a good showing. The Russell 2000 index of smaller companies picked up 19.54 points, or 0.9%, to 2,242.60. The index is up 13.6% so far this year, while the S&P 500, which tracks large companies, is up 9.1%.

Big Tech stocks were among the biggest beneficiaries as bond yields cooled off. Apple rose 1.9%, Microsoft gained 1.3% and Amazon added 0.6%.

Investors are showing cautious optimism about the economic recovery, especially in the U.S., where vaccine distribution has been ramping up and President Joe Biden has advanced the deadline for states to make doses available to all adults to April 19.

But it’s clear the economy has much to do when it comes to recovery. The number of Americans who filed for unemployment benefits last week rose again last week, as many businesses remain closed or partially shut down due to the pandemic.

Much of the economy is recovering, but employment needs to pick up in order for a full recovery to occur, analysts say. The market will likely continue to be choppy as investors shift money to some of the sectors and companies hardest hit by the pandemic. They are also weighing signs of economic growth against the lingering threat of COVID-19.

“We’re still at the mercy of the virus and the race between the virus and vaccines and getting a sense of the reopening of the economy,” said Liz Ann Sonders, chief investment strategist at Charles Schwab.

ASX 200 expected to edge lower​The Australian share market looks set to end the week in a subdued fashion. According to the latest SPI futures, the ASX 200 is expected to open the day 5 points or 0.1% lower this morning. This is despite a solid night of trade on Wall Street, which saw the Dow Jones rise 0.17%, the S&P 500 climb 0.42%, and the Nasdaq storm 1.03% higher.












https://apnews.com/article/financia...cial-markets-6ec099046496030bbd793cd1482250ef

*Stocks rise as lower bond yields help lift tech companies*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies led stocks to more gains on Wall Street Thursday, nudging the S&P 500 to an all-time high for the third time this week.

The benchmark index rose 0.4% and is on track for its third straight weekly gain. Stocks within the S&P 500 were about evenly split between gainers and losers, with technology companies driving much of the rally. Those gains were tempered mainly by a slide in energy stocks and real estate companies.

Bond yields, which had been steadily ticking higher, continued to inch back from the highs they hit earlier in the month. The yield on the 10-year U.S. Treasury note, which influences interest rates on mortgages and other loans, fell to 1.63% from 1.65% late Wednesday. It had been as high as 1.75% on Monday.

That pullback in yields took some pressure off technology stocks, which have slipped over the last few months as yields jumped and made the shares look pricey. The sector has also seen choppy trading as investors shift more money into companies that stand to benefit from the economic recovery.

“We expect rates to rise because the economy is looking better,” said Sylvia Jablonski, chief investment officer at Defiance ETFs. “I don’t think that the 10-year (Treasury yield) moving around in the short term is really an issue for the market.”

The S&P 500 rose 17.22 points to 4,097.17. The index also set record highs on Monday and Wednesday. The Dow Jones Industrial Average gained 57.31 points, or 0.2%, to 33,503.57. The tech-heavy Nasdaq composite climbed 140.47 points, or 1%, to 13,829.31.

Small company stocks, which have been outpacing the broader market this year, also had a good showing. The Russell 2000 index of smaller companies picked up 19.54 points, or 0.9%, to 2,242.60. The index is up 13.6% so far this year, while the S&P 500, which tracks large companies, is up 9.1%.

Big Tech stocks were among the biggest beneficiaries as bond yields cooled off. Apple rose 1.9%, Microsoft gained 1.3% and Amazon added 0.6%.

Investors are showing cautious optimism about the economic recovery, especially in the U.S., where vaccine distribution has been ramping up and President Joe Biden has advanced the deadline for states to make doses available to all adults to April 19.

But it’s clear the economy has much to do when it comes to recovery. The number of Americans who filed for unemployment benefits last week rose again last week, as many businesses remain closed or partially shut down due to the pandemic.

Much of the economy is recovering, but employment needs to pick up in order for a full recovery to occur, analysts say. The market will likely continue to be choppy as investors shift money to some of the sectors and companies hardest hit by the pandemic. They are also weighing signs of economic growth against the lingering threat of COVID-19.

“We’re still at the mercy of the virus and the race between the virus and vaccines and getting a sense of the reopening of the economy,” said Liz Ann Sonders, chief investment strategist at Charles Schwab.

In remarks to the International Monetary Fund Thursday, Federal Reserve Chair Jerome Powell said a number of factors are putting the nation “on track to allow a full reopening of the economy fairly soon.”

On Wednesday, the market largely shrugged off the release of minutes from the Federal Reserve’s latest meeting on interest rates.

The minutes revealed that Fed officials were encouraged last month by evidence the U.S. economy was picking up, but they showed no sign of moving closer to ending their bond purchases or lifting their benchmark short-term interest rate from nearly zero.


----------



## bigdog

*Tech company gains help push S&P 500 to record high*

Wall Street capped another week of gains with more milestones Friday, as strength in technology and health care stocks helped push the S&P 500 and Dow Jones Industrial Average to all-time highs.

The S&P 500 rose 0.8% for its fourth record high this week and third straight weekly gain. The Dow’s latest milestone followed an all-time high on Monday.

Stocks have benefited this week as bond yields, which had been steadily ticking higher, retreated from highs hit earlier in the month. Higher yields can slow down the economy by pushing up interest rates, making it more expensive for people and businesses to borrow money. Bond yields rose Friday, but that didn’t weigh on stocks.

“The S&P 500 finished at another all-time high today as investors have become comfortable enough with the current level of interest rates and inflation to keep putting money into equities,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance.

A late-afternoon burst of buying pushed the major stock indexes higher. The S&P 500 rose 31.63 points to 4,128.80. The Dow gained 297.03 points, or 0.9%, to 33,800.60. The Nasdaq composite picked up 70.88 points, or 0.5%, to 13,900.19.

Small company stocks, which have outgained the broader market this year, lagged behind on Friday. The Russell 2000 index of smaller companies inched up 0.88 points, or less than 0.1%, to 2,243.47. Still, the index is up 13.6% so far this year, while the S&P 500, which tracks large companies, is up 9.9%.

Big Tech stocks were among the better performers. Apple rose 2%, Microsoft gained 1% and Intel added 1.8%. Health care companies also helped lift the market. UnitedHealth climbed 3.1% and Cigna rose 3.3%.

Financial companies also rose, aided by the rise in bond yields, which translates into higher interest rates lenders can charge on mortgages and other loans. State Street gained 2.4% and Wells Fargo added 1.2%.

The yield on the 10-year U.S. Treasury note, which influences interest rates on mortgages and other loans, rose to 1.66% from 1.63% late Thursday. It had been as high as 1.75% on Monday.

Most analysts expect inflation to increase as the economy improves.











https://apnews.com/article/technolo...ul-hong-kong-c58184aed19600e1e294d137bafc1f59

*Tech company gains help push S&P 500 to record high*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped another week of gains with more milestones Friday, as strength in technology and health care stocks helped push the S&P 500 and Dow Jones Industrial Average to all-time highs.

The S&P 500 rose 0.8% for its fourth record high this week and third straight weekly gain. The Dow’s latest milestone followed an all-time high on Monday.

Stocks have benefited this week as bond yields, which had been steadily ticking higher, retreated from highs hit earlier in the month. Higher yields can slow down the economy by pushing up interest rates, making it more expensive for people and businesses to borrow money. Bond yields rose Friday, but that didn’t weigh on stocks.

“The S&P 500 finished at another all-time high today as investors have become comfortable enough with the current level of interest rates and inflation to keep putting money into equities,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance.

A late-afternoon burst of buying pushed the major stock indexes higher. The S&P 500 rose 31.63 points to 4,128.80. The Dow gained 297.03 points, or 0.9%, to 33,800.60. The Nasdaq composite picked up 70.88 points, or 0.5%, to 13,900.19.

Small company stocks, which have outgained the broader market this year, lagged behind on Friday. The Russell 2000 index of smaller companies inched up 0.88 points, or less than 0.1%, to 2,243.47. Still, the index is up 13.6% so far this year, while the S&P 500, which tracks large companies, is up 9.9%.

Big Tech stocks were among the better performers. Apple rose 2%, Microsoft gained 1% and Intel added 1.8%. Health care companies also helped lift the market. UnitedHealth climbed 3.1% and Cigna rose 3.3%.

Financial companies also rose, aided by the rise in bond yields, which translates into higher interest rates lenders can charge on mortgages and other loans. State Street gained 2.4% and Wells Fargo added 1.2%.

The yield on the 10-year U.S. Treasury note, which influences interest rates on mortgages and other loans, rose to 1.66% from 1.63% late Thursday. It had been as high as 1.75% on Monday.

Most analysts expect inflation to increase as the economy improves.

“We’re seeing some evidence of inflation creeping into the market place, but it’s not problematic,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.

The market’s latest gains are in line with the market’s upward tack this week as investors weigh concerns about the virus tripping up a steady economic recovery against progress in vaccinations and business re-openings.

Investors are showing cautious optimism about the economic recovery, especially in the U.S., where vaccine distribution as been ramping up and President Joe Biden has advanced the deadline for states to make doses available to all adults to April 19.

“There’s optimism on the horizon that overall economic growth will continue as the year unfolds,” Sandven said.

But it’s clear the recovery has a long way to go. The number of Americans who filed for unemployment benefits last week rose again last week, as many businesses remain closed or partially shut down due to the pandemic.

In remarks to the International Monetary Fund Thursday, Federal Reserve Chair Jerome Powell said a number of factors are putting the nation “on track to allow a full reopening of the economy fairly soon.”

Investors will turn their attention to quarterly results next week, when earnings season gets underway. The major banks are among the first to report their results, including JPMorgan, Wells Fargo and Bank of America. Analysts polled by FactSet have hiked their profit forecasts during the quarter. They expect growth of just over 24%, compared with the view back in September that companies in the S&P 500 would see 13% growth.

 “On balance, we’re seeing earnings accelerate to provide valuation support,” Sandven said


----------



## bigdog

ASX 200 expected to rise​
The Australian share market looks set to start the week on a positive note following a solid finish on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the week 6 points or 0.1% higher this morning. 

On Wall Street on Friday night, the Dow Jones rose 0.9%, the S&P 500 climbed 0.8%, and the Nasdaq pushed 0.5% higher. The Dow hit a record high after adding 2% for the week.


----------



## bigdog

*Stocks end slightly below latest record highs as tech slips*

The New York Stock Exchange is seen in New York, in this Monday, Nov. 23, 2020, file photo. Stocks are opening mostly lower on Wall Street as investors turn cautious following another record-setting run last week. The S&P 500 slipped less than 0.1% in the early going Monday, April 12, 2021, and other major market indexes were also lower. Big banks will be in focus this week as several of them report their latest quarterly earnings. (AP Photo/Seth Wenig, File)

U.S. stock indexes gave up some of their recent gains Monday, pulling the S&P 500 slightly below the record high it hit last week.

Technology, communication and energy stocks weighed on the market, outweighing gains by a broad mix of companies, including banks and those that rely directly on consumer spending, such as Nike and Chipotle.

Bond yields inched higher after easing most of last week. Investors have been focusing on the economic recovery as well as the risks higher inflation pose to consumers and companies. Those concerns have helped push up bond yields for much of this year.

Monday’s pullback snapped a three-day winning streak for the benchmark S&P 500, which closed out last week with its third straight weekly gain.

“It’s this back and forth as the market tries to figure out how strong the economy is going to be and how long its going to last,” said Tom Martin, senior portfolio manager with Globalt Investments.

The S&P 500 slipped 0.81 points, or less than 0.1%, to 4,127.99. The Dow Jones Industrial Average fell 55.20 points, or 0.2%, to 33,745.40. The tech-heavy Nasdaq composite lost 50.19 points, or 0.4%, to 13,850. The S&P 500 and Dow each set record highs Friday.

Small company stocks, which have been outgaining the broader market this year, also fell. The Russell 2000 index of smaller companies gave up 9.69 points, or 0.4%, to 2,233.78. The index is up 13.1% so far this year, while the S&P 500, which tracks large companies, is up 9.9%.

Technology stocks were the biggest drag on the market. Apple fell 1.3% and Google’s parent company slid 1.1%.

The sector has been choppy as investors shift money to other industries that could see solid gains as the economy recovers. Rising bond yields have also made technology stock values look pricey after months of big gains.

The yield on the 10-year U.S. Treasury note, which influences interest rates on mortgages and other loans, inched up to 1.67%. It ended Friday at 1.66% and had been as high as 1.75% last Monday.

ASX 200 futures pointing higher​The Australian share market looks set to edge higher this morning despite a subdued night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 0.1% or 6 points higher.

On Monday night the Dow Jones fell 0.16%, the S&P 500 was flat, and the Nasdaq was down 0.36%. Investors appear nervous ahead of the release of key US inflation data.










*Stocks end slightly below latest record highs as tech slips*

By DAMIAN J. TROISE and ALEX VEIGA

The New York Stock Exchange is seen in New York, in this Monday, Nov. 23, 2020, file photo. Stocks are opening mostly lower on Wall Street as investors turn cautious following another record-setting run last week. The S&P 500 slipped less than 0.1% in the early going Monday, April 12, 2021, and other major market indexes were also lower. Big banks will be in focus this week as several of them report their latest quarterly earnings. (AP Photo/Seth Wenig, File)

U.S. stock indexes gave up some of their recent gains Monday, pulling the S&P 500 slightly below the record high it hit last week.

Technology, communication and energy stocks weighed on the market, outweighing gains by a broad mix of companies, including banks and those that rely directly on consumer spending, such as Nike and Chipotle.

Bond yields inched higher after easing most of last week. Investors have been focusing on the economic recovery as well as the risks higher inflation pose to consumers and companies. Those concerns have helped push up bond yields for much of this year.

Monday’s pullback snapped a three-day winning streak for the benchmark S&P 500, which closed out last week with its third straight weekly gain.

“It’s this back and forth as the market tries to figure out how strong the economy is going to be and how long its going to last,” said Tom Martin, senior portfolio manager with Globalt Investments.

The S&P 500 slipped 0.81 points, or less than 0.1%, to 4,127.99. The Dow Jones Industrial Average fell 55.20 points, or 0.2%, to 33,745.40. The tech-heavy Nasdaq composite lost 50.19 points, or 0.4%, to 13,850. The S&P 500 and Dow each set record highs Friday.

Small company stocks, which have been outgaining the broader market this year, also fell. The Russell 2000 index of smaller companies gave up 9.69 points, or 0.4%, to 2,233.78. The index is up 13.1% so far this year, while the S&P 500, which tracks large companies, is up 9.9%.

Technology stocks were the biggest drag on the market. Apple fell 1.3% and Google’s parent company slid 1.1%.

The sector has been choppy as investors shift money to other industries that could see solid gains as the economy recovers. Rising bond yields have also made technology stock values look pricey after months of big gains.

The yield on the 10-year U.S. Treasury note, which influences interest rates on mortgages and other loans, inched up to 1.67%. It ended Friday at 1.66% and had been as high as 1.75% last Monday.

Traders are showing cautious optimism about the economic recovery, especially in the U.S., where vaccine distribution as been ramping up and President Joe Biden has advanced the deadline for states to make doses available to all adults to April 19.

While many economists are projecting a strong economic rebound this year, some companies that stand to benefit from the reopening of the economy were among the decliners Monday. Cruise operators Carnival and Royal Caribbean fell 5.3% and 3.1%, respectively.

Nuance Communications soared 15.9% after Microsoft said it would buy the speech technology company for about $16 billion.

Alibaba’s U.S.-listed shares jumped 9.3% after the Chinese conglomerate said it would restructure its Ant Group financial affiliate to placate Chinese government regulatory concerns.

Wall Street will be watching company earnings reports this week, particularly several from big banks. JPMorgan Chase and Wells Fargo report on Wednesday, while Bank of America and Citigroup report on Thursday.

Investors expect big profits for the major banks, mostly due to rising interest rates and the ability for these banks to move loans that went bad in the early weeks of the pandemic back onto the “good” side of their balance sheets.


----------



## bigdog

*Stocks close mixed as regulators seek pause in J&J vaccine*

A choppy day of trading on Wall Street ended with indexes mixed Tuesday as a drop in bond yields hurt bank stocks but helped big technology companies.

The S&P 500 rose 0.3% after briefly slipping into the red in the early going. The modest gain nudged the benchmark index to an all-time high. Technology stocks and companies that rely on consumer spending helped lift the broad market index. The gains were tempered by a pullback in banks, industrial companies and other stocks.

Johnson & Johnson fell 1.3% after U.S. regulators recommended a pause in using its single-dose COVID-19 vaccine to investigate reports of possibly dangerous blood clots. Moderna, which also makes a COVID-19 vaccine, climbed 7.4%.

Worries about the potential loss of a vaccine option also pulled down companies that are counting on pandemic restrictions easing, though the losses eased by the end of the day. American Airlines slipped 1.5% and Delta Air Lines fell 1.1%.

The broader market has been mostly notching gains this month, reflecting cautious optimism among investors that the economy will strengthen and corporate profits will improve as the distribution of COVID-19 vaccines paves the way for more restrictions on businesses to be lifted. A pause in the rollout of the Johnson & Johnson vaccine isn’t going to derail that, analysts said.

“The response today has been very muted and isolated,” said, Scott Knapp, chief market strategist at CUNA Mutual Group. “Markets don’t expect lockdowns. The recovery may be delayed, but not a return to pandemic conditions.”

The market’s initial sell-off on the J&J news was “a bit of an overreaction,” said Jay Hatfield, CEO of Infrastructure Capital Management.

“We had a dress rehearsal for this last week because there was a huge disruption to the J&J supply and nobody seemed to care,” Hatfield said. “Clearly, the recovery is not dependent on J&J significantly.”

The S&P 500 rose 13.60 points to 4,141.59. The Dow Jones Industrial Average fell 68.13 points, or 0.2%, to 33,677.27. The Nasdaq gained 146.10 points, or 1.1%, to 13,996.10. The divergence between the Dow and Nasdaq was largely due to the fact the Dow has more bank stocks and also includes Johnson & Johnson, while the Nasdaq is heavily weighted with technology companies.

Small company stocks also lost ground. The Russell 2000 index of smaller companies gave up 4.86 points, or 0.2%, to 2,228.92.

The yield on the 10-year U.S. Treasury fell to to 1.62% from 1.67% the day before. JPMorgan Chase fell 1.2% and Wells Fargo lost 2.4%.

Investors will get a chance to look over the books of the big banks starting Wednesday, when JPMorgan Chase and Wells Fargo report their quarterly results. Bank of America and Citigroup report their results on Thursday.

ASX 200 expected to rise​
The Australian share market looks set to push higher today. According to the latest SPI futures, the ASX 200 is expected to open the day 18 points or 0.25% higher. This follows a largely positive night of trade on Wall Street. Although the Dow Jones dropped 0.2%, the S&P 500 rose 0.33% and the Nasdaq stormed 1.05% higher.











https://apnews.com/article/technolo...rus-pandemic-956d1bf9c5eb1ecfcd2abc963933d1f4

*Stocks close mixed as regulators seek pause in J&J vaccine*

By DAMIAN J. TROISE and ALEX VEIGA

A choppy day of trading on Wall Street ended with indexes mixed Tuesday as a drop in bond yields hurt bank stocks but helped big technology companies.

The S&P 500 rose 0.3% after briefly slipping into the red in the early going. The modest gain nudged the benchmark index to an all-time high. Technology stocks and companies that rely on consumer spending helped lift the broad market index. The gains were tempered by a pullback in banks, industrial companies and other stocks.

Johnson & Johnson fell 1.3% after U.S. regulators recommended a pause in using its single-dose COVID-19 vaccine to investigate reports of possibly dangerous blood clots. Moderna, which also makes a COVID-19 vaccine, climbed 7.4%.

Worries about the potential loss of a vaccine option also pulled down companies that are counting on pandemic restrictions easing, though the losses eased by the end of the day. American Airlines slipped 1.5% and Delta Air Lines fell 1.1%.

The broader market has been mostly notching gains this month, reflecting cautious optimism among investors that the economy will strengthen and corporate profits will improve as the distribution of COVID-19 vaccines paves the way for more restrictions on businesses to be lifted. A pause in the rollout of the Johnson & Johnson vaccine isn’t going to derail that, analysts said.

“The response today has been very muted and isolated,” said, Scott Knapp, chief market strategist at CUNA Mutual Group. “Markets don’t expect lockdowns. The recovery may be delayed, but not a return to pandemic conditions.”

The market’s initial sell-off on the J&J news was “a bit of an overreaction,” said Jay Hatfield, CEO of Infrastructure Capital Management.

“We had a dress rehearsal for this last week because there was a huge disruption to the J&J supply and nobody seemed to care,” Hatfield said. “Clearly, the recovery is not dependent on J&J significantly.”

The S&P 500 rose 13.60 points to 4,141.59. The Dow Jones Industrial Average fell 68.13 points, or 0.2%, to 33,677.27. The Nasdaq gained 146.10 points, or 1.1%, to 13,996.10. The divergence between the Dow and Nasdaq was largely due to the fact the Dow has more bank stocks and also includes Johnson & Johnson, while the Nasdaq is heavily weighted with technology companies.

Small company stocks also lost ground. The Russell 2000 index of smaller companies gave up 4.86 points, or 0.2%, to 2,228.92.

The yield on the 10-year U.S. Treasury fell to to 1.62% from 1.67% the day before. JPMorgan Chase fell 1.2% and Wells Fargo lost 2.4%.

Investors will get a chance to look over the books of the big banks starting Wednesday, when JPMorgan Chase and Wells Fargo report their quarterly results. Bank of America and Citigroup report their results on Thursday.

Big technology stocks, which have fallen when bond yields have risen, closed solidly higher. Apple rose 2.4% and Microsoft gained 1%. Technology stocks rose sharply in 2020 as investors bet that stay-at-home Americans would shift even more to online buying and electronic entertainment to keep themselves busy in the pandemic.

Investors had little reaction to a report that showed U.S. consumer prices increased a sharp 0.6% in March, the most since 2012, while inflation over the past year rose a sizable 2.6%. The big gains are expected to be a temporary blip and not a sign that long dormant inflation pressures were emerging. The index rose 0.4% in February.

The Fed has been trying to reassure markets that any increase in inflation would be temporary as the economy recovers.

“It looks like the market is starting to internalize that point of view,” Knapp said.

Traders in cryptocurrencies pushed up the price of Bitcoin above $63,000 for the first time Tuesday. It rose 5.3% to $63,179.98, according to the tracking site CoinDesk. The rally comes as cryptocurrency exchange and digital wallet operator Coinbase is set to make its stock market debut Wednesday.


----------



## bigdog

*Most US stocks rise, indexes end mixed as earnings kick off*

NEW YORK (AP) — Most U.S. stocks rose on Wednesday, but indexes petered out to a mixed finish as momentum weakened following an encouraging start to what’s expected to be a thunderous earnings reporting season.

The S&P 500 fell 16.93 points, or 0.4%, to 4,124.66, a day after returning to an all-time high. It flipped between small gains and losses several times through the day.

The Dow Jones Industrial Average rose 53.62 points, or 0.2%, to 33,730.89 after rising above its record set last week earlier in the day. The Nasdaq composite lost an early gain to drop 138.26, or 1%, to 13,857.84.

The market was held back by drops for several heavyweight tech stocks, including Apple and Amazon, but the majority of stocks within the S&P 500 rose. Smaller companies also rallied amid growing optimism as COVID-19 vaccines roll out and businesses reopen. The Russell 2000 index of small-cap stocks climbed 18.79, or 0.8%, to 2,247.72.

Shares of Coinbase Global, an exchange for bitcoin and other digital currencies, surged in their market debut, perhaps a defining moment for cryptocurrencies as they get embraced more by the mainstream.

Its stock opened at $381, after the Nasdaq earlier gave it a $250 reference price. It quickly rallied toward $430 before closing at $328.28. At that price, investors say the company is worth more than $85 billion, more valuable than Nasdaq or Intercontinental Exchange, the owner of the New York Stock Exchange.

Interest in and prices for cryptocurrencies have been exploding recently as more companies and investors get involved. Coinbase turned a profit last year after more than reversing a $30.4 million loss from the year before, and it expects growth to continue because it sees the cryptoeconomy producing “a more fair, accessible, efficient, and transparent financial system for the internet age.”

Energy stocks were also among the market’s strongest on expectations that a resurgent economy will burn more petroleum products. The International Energy Agency raised its forecast for oil demand this year, up by 230,000 barrels per day to 96.7 million. A separate U.S. government report also showed that the amount of oil supplies in inventories fell sharply last week.

That helped benchmark U.S. crude oil rise $2.97 to settle at $63.15 per barrel. Brent crude, the international standard, climbed $2.91 to $66.58 a barrel. Within the S&P 500, Diamondback Energy was one of the top-performing stocks with a gain of 6%. Occidental Petroleum rose 5.2%.

Much of the market’s focus in coming weeks will be on earnings season, as companies line up to report how much profit they made during the first three months of 2021. Expectations are very high, and this may be the best quarter of earnings growth for S&P 500 companies in more than a decade.

Big banks are traditionally among the first companies to report, and Goldman Sachs, JPMorgan Chase and Wells Fargo all unveiled earnings for the first quarter that blew past analysts’ forecasts. Much of the surge was due to expectations for a rapidly improving economy, which allowed banks to free up reserves held in case loans went bad, as well as strong trading revenue.

 The better-than-expected results didn’t give all the bank stocks a uniform pop, though. Goldman Sachs rallied 2.3%, but JPMorgan Chase fell 1.9%. Wells Fargo jumped 5.5%, but only after swerving from an early-morning loss to a gain

ASX 200 futures pointing lower

The Australian share market looks set to give back a lot of yesterday’s gain this morning. According to the latest SPI futures, the ASX 200 is poised to open the day 40 points or 0.6% lower. 

This follows a disappointing night of trade on Wall Street, which saw the Dow Jones rise 0.16%, but the S&P 500 drop 0.41% and the Nasdaq tumble 0.99% lower.









https://apnews.com/article/financia...ong-shanghai-fd8e7228eb8b89e1559db0d6f66d1bdf

*Most US stocks rise, indexes end mixed as earnings kick off*

By STAN CHOE and DAMIAN J. TROISE

NEW YORK (AP) — Most U.S. stocks rose on Wednesday, but indexes petered out to a mixed finish as momentum weakened following an encouraging start to what’s expected to be a thunderous earnings reporting season.

The S&P 500 fell 16.93 points, or 0.4%, to 4,124.66, a day after returning to an all-time high. It flipped between small gains and losses several times through the day.

The Dow Jones Industrial Average rose 53.62 points, or 0.2%, to 33,730.89 after rising above its record set last week earlier in the day. The Nasdaq composite lost an early gain to drop 138.26, or 1%, to 13,857.84.

The market was held back by drops for several heavyweight tech stocks, including Apple and Amazon, but the majority of stocks within the S&P 500 rose. Smaller companies also rallied amid growing optimism as COVID-19 vaccines roll out and businesses reopen. The Russell 2000 index of small-cap stocks climbed 18.79, or 0.8%, to 2,247.72.

Shares of Coinbase Global, an exchange for bitcoin and other digital currencies, surged in their market debut, perhaps a defining moment for cryptocurrencies as they get embraced more by the mainstream.

Its stock opened at $381, after the Nasdaq earlier gave it a $250 reference price. It quickly rallied toward $430 before closing at $328.28. At that price, investors say the company is worth more than $85 billion, more valuable than Nasdaq or Intercontinental Exchange, the owner of the New York Stock Exchange.

Interest in and prices for cryptocurrencies have been exploding recently as more companies and investors get involved. Coinbase turned a profit last year after more than reversing a $30.4 million loss from the year before, and it expects growth to continue because it sees the cryptoeconomy producing “a more fair, accessible, efficient, and transparent financial system for the internet age.”

Energy stocks were also among the market’s strongest on expectations that a resurgent economy will burn more petroleum products. The International Energy Agency raised its forecast for oil demand this year, up by 230,000 barrels per day to 96.7 million. A separate U.S. government report also showed that the amount of oil supplies in inventories fell sharply last week.

That helped benchmark U.S. crude oil rise $2.97 to settle at $63.15 per barrel. Brent crude, the international standard, climbed $2.91 to $66.58 a barrel. Within the S&P 500, Diamondback Energy was one of the top-performing stocks with a gain of 6%. Occidental Petroleum rose 5.2%.

Much of the market’s focus in coming weeks will be on earnings season, as companies line up to report how much profit they made during the first three months of 2021. Expectations are very high, and this may be the best quarter of earnings growth for S&P 500 companies in more than a decade.

Big banks are traditionally among the first companies to report, and Goldman Sachs, JPMorgan Chase and Wells Fargo all unveiled earnings for the first quarter that blew past analysts’ forecasts. Much of the surge was due to expectations for a rapidly improving economy, which allowed banks to free up reserves held in case loans went bad, as well as strong trading revenue.

The better-than-expected results didn’t give all the bank stocks a uniform pop, though. Goldman Sachs rallied 2.3%, but JPMorgan Chase fell 1.9%. Wells Fargo jumped 5.5%, but only after swerving from an early-morning loss to a gain.

Stocks in recent earnings seasons have been failing to get as big a bounce as they usually do after reporting better-than-expected results. Analysts say it’s likely a result of how much stock prices have already rallied on expectations for the strong growth. The S&P 500 has soared roughly 85% since hitting a bottom in March 2020, even as the pandemic crunched profits for companies through last year.

Wednesday’s encouraging start to earnings season dovetails with several reports showing the economy is kicking into a higher gear as more widespread COVID-19 vaccinations and tremendous financial support from the U.S. government and Federal Reserve work through the system.

The expectations for a stronger economy, though, are also leading to worries about higher inflation. If inflation were to climb and sustain itself, it could send bond prices tumbling, erode profits for companies and trigger volatility across markets worldwide.

A report on Tuesday said that U.S. consumer prices rose more in March than economists expected, but investors largely took it in stride.

“The market can handle a higher interest rate level if it’s coupled with an improving growth backdrop,” said Jack Janasiewicz, portfolio strategist at Natixis Investment Managers.

Low rates engineered by the Federal Reserve have been one of the central reasons for the stock market’s surge over the last year.

The yield on the 10-year Treasury rose to 1.63% from 1.62%.

Fed Chair Jerome Powell said again on Wednesday that the central bank will hold off on raising interest rates until the job market has fully healed, inflation has reached 2% and indications show inflation is on track to stay moderately above 2% for some time. The Fed also released its latest “Beige Book” survey, which showed businesses around the country feeling more optimistic about the economy.


----------



## bigdog

*Dow crests 34,000 on more proof that economy is recovering*

Wall Street notched more milestones Thursday, as a broad market rally pushed the S&P 500 to an all-time high and the Dow Jones Industrial Average crossed above the 34,000 mark for the first time.

The S&P 500 rose 1.1%, with technology, health care and communication stocks accounting for much of the upward moves. Only energy and financial companies closed lower. Bond yields fell.

The rally came as investors welcomed a suite of encouraging economic reports showing how hungry Americans are to spend again, how fewer workers are losing their jobs and how much fatter corporate profits are getting.

Expectations are very high on Wall Street that the economy — and thus corporate profits — are in the midst of exploding out of the cavern created by the pandemic, thanks to COVID-19 vaccinations and massive support from the U.S. government and Federal Reserve. New data on retail sales and jobless claims Thursday helped bolster the view that the economic recovery is accelerating.

“Another day, another record,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. “The stock market continues to validate the optimistic forecasts from last year, which predicted a strong economy that was driven by consumers emerging from their homes, emboldened by vaccinations or by a belief that the worst of COVID was behind us.”

The S&P 500 rose 45.76 points to 4,170.42, surpassing its previous record high of 4,141.59 set on Tuesday. The Dow climbed 305.10 points, or 0.9%, to 34,035.99. The Dow also set a record high on Friday.

The Nasdaq composite added 180.92 points, or 1.3%, to 14,038.76, while the Russell 2000 index of smaller companies picked up 9.35 points, or 0.4%, to 2,257.07.

The rally got off to a swift start Thursday as traders weighed the latest batch of economic data and corporate earnings reports.

One report showed that U.S. retail sales jumped 9.8% in March from February, blowing past economists’ forecasts for 5.5% growth. Much of the surge was due to $1,400 payments from the U.S. government’s latest economic rescue effort hitting households’ bank accounts. Economists said it shows how primed people are to spend as the economy reopens and conditions brighten. That’s huge for an economy that’s made up mostly of consumer spending.

Another report gave an encouraging read on the job market, showing 576,000 people applied for unemployment benefits last week. That’s well below the 700,000 that economists had forecast and down from 769,000 the prior week. It’s also the lowest the number has been since the pandemic.

Adding to the optimism, more big U.S. companies reported even healthier profits for the first three months of 2021 than analysts had forecast. Expectations are already high for this earnings reporting season, which unofficially got underway on Wednesday and could result in the strongest growth in more than a decade.

“You’ve got various pockets of the market now starting to show a broadening recovery,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

BlackRock, PepsiCo and UnitedHealth Group all reported bigger profits for the first quarter than analysts expected. BlackRock rose 2.1%, PepsiCo added 0.1% and UnitedHealth climbed 3.8%.

Even Delta Air Lines, which reported weaker results for the start of 2021 than expected, highlighted areas of optimism. It said it could return to making profits by late summer if the recovery it’s seeing in air travel continues. Its shares fell 2.8%.

With growth expectations so high, some investors are worried about the possibility that inflation could swing upward. If it were to sustain itself, high inflation could send bond prices tumbling, hurt corporate profit margins and trigger volatility across markets worldwide.

ASX 200 expected to rise​The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 13 points or 0.2% higher this morning. This follows a very strong night of trade on Wall Street, which saw the Dow Jones rise 0.9%, the S&P 500 climb 1.1%, and the Nasdaq storm 1.3% higher. Exceptional US economic data sent shares hurtling higher.










https://apnews.com/article/financia...ong-shanghai-7e3083b4ec4c50140f5066b6d42ae553

*Dow crests 34,000 on more proof that economy is recovering*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Wall Street notched more milestones Thursday, as a broad market rally pushed the S&P 500 to an all-time high and the Dow Jones Industrial Average crossed above the 34,000 mark for the first time.

The S&P 500 rose 1.1%, with technology, health care and communication stocks accounting for much of the upward moves. Only energy and financial companies closed lower. Bond yields fell.

The rally came as investors welcomed a suite of encouraging economic reports showing how hungry Americans are to spend again, how fewer workers are losing their jobs and how much fatter corporate profits are getting.

Expectations are very high on Wall Street that the economy — and thus corporate profits — are in the midst of exploding out of the cavern created by the pandemic, thanks to COVID-19 vaccinations and massive support from the U.S. government and Federal Reserve. New data on retail sales and jobless claims Thursday helped bolster the view that the economic recovery is accelerating.

“Another day, another record,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. “The stock market continues to validate the optimistic forecasts from last year, which predicted a strong economy that was driven by consumers emerging from their homes, emboldened by vaccinations or by a belief that the worst of COVID was behind us.”

The S&P 500 rose 45.76 points to 4,170.42, surpassing its previous record high of 4,141.59 set on Tuesday. The Dow climbed 305.10 points, or 0.9%, to 34,035.99. The Dow also set a record high on Friday.

The Nasdaq composite added 180.92 points, or 1.3%, to 14,038.76, while the Russell 2000 index of smaller companies picked up 9.35 points, or 0.4%, to 2,257.07.

The rally got off to a swift start Thursday as traders weighed the latest batch of economic data and corporate earnings reports.

One report showed that U.S. retail sales jumped 9.8% in March from February, blowing past economists’ forecasts for 5.5% growth. Much of the surge was due to $1,400 payments from the U.S. government’s latest economic rescue effort hitting households’ bank accounts. Economists said it shows how primed people are to spend as the economy reopens and conditions brighten. That’s huge for an economy that’s made up mostly of consumer spending.

Another report gave an encouraging read on the job market, showing 576,000 people applied for unemployment benefits last week. That’s well below the 700,000 that economists had forecast and down from 769,000 the prior week. It’s also the lowest the number has been since the pandemic.

Adding to the optimism, more big U.S. companies reported even healthier profits for the first three months of 2021 than analysts had forecast. Expectations are already high for this earnings reporting season, which unofficially got underway on Wednesday and could result in the strongest growth in more than a decade.

“You’ve got various pockets of the market now starting to show a broadening recovery,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

BlackRock, PepsiCo and UnitedHealth Group all reported bigger profits for the first quarter than analysts expected. BlackRock rose 2.1%, PepsiCo added 0.1% and UnitedHealth climbed 3.8%.

Even Delta Air Lines, which reported weaker results for the start of 2021 than expected, highlighted areas of optimism. It said it could return to making profits by late summer if the recovery it’s seeing in air travel continues. Its shares fell 2.8%.

With growth expectations so high, some investors are worried about the possibility that inflation could swing upward. If it were to sustain itself, high inflation could send bond prices tumbling, hurt corporate profit margins and trigger volatility across markets worldwide.

The bond market remained notably calm following Thursday morning’s stronger-than-expected reports, and longer-term yields actually fell to the surprise of some analysts. The yield on the 10-year Treasury dropped to 1.55% from 1.63% late Wednesday. Earlier this month, it had gotten as high as 1.75%.

“That’s what’s really driving the enthusiasm in the market; not so much the economic data, but the fact that rates went down,” said Phil Guarco, global investment specialist at J.P. Morgan Private Bank.

The pullback in yields echoes what happened earlier this week, when a report on the Consumer Price Index came in higher than expected. It would have made sense if the worse-than-expected inflation report had caused investors to sell bonds and send yields higher, but they largely shrugged it off.

Analysts still expect bond yields to tick higher as the year goes on and the economy continues recovering, along with investors shifting money into sectors that will see a greater benefit from the recovery.

“When you’re thinking about GDP growth, it’s really hard to see why the 10-year shouldn’t be higher,” Samana said.

The surprising reaction may be a result of how unpredictable data can be as the pandemic and government efforts to counteract it distort everything. And, for now at least, the numbers seem to be pointing toward more strength.

The falling yields helped send financial stocks to some of the market’s sharpest losses, because lower long-term interest rates limit the profits banks make from lending. Bank of America fell 2.9%, and Citigroup slid 0.5%, for example, even though both had earlier in the day reported stronger profits for the first three months of 2021 than expected.


----------



## bigdog

*ALL WORLD SHARE CHANGE INDEXES GREEN!!!*

*S&P 500 hits another record, marks 4th weekly gain in a row*

Stocks added to their recent gains Friday, driving the S&P 500 and Dow Jones Industrial Average to new highs.

The S&P 500 rose 0.4%, led by gains in companies that rely directly on consumer spending, health care stocks and banks, which benefited from higher Treasury yields. The benchmark index notched its fourth straight weekly gain.

The gains were tempered by modest declines in technology stocks, which have been prone to pull back when bond yields move higher. Rising bond yields tend to make shares in technology companies that have had a strong runup over the past year look too expensive. Crude oil prices slipped, weighing down energy companies.

Bond yields rose broadly after falling earlier in the week. The yield of the 10-year Treasury note rose to 1.59% from 1.53% late Thursday. Still, bond yields are down from the highs they hit earlier in the month, when the 10-year note traded at a yield of 1.75%.

“There’s sort of a churning with regard to interest rates and in the market itself,” said Tom Martin, senior portfolio manager with Globalt Investments.

The S&P 500 rose 15.05 points to 4,185.47. The Dow gained 164.68 points, or 0.5% to 34,200.67. The S&P and Dow also hit all-time highs on Thursday. The technology-heavy Nasdaq inched up 13.58 points, or 0.1%, to 14,052.34 after recovering from an early slide.

The Russell 2000 index of smaller companies added 5.60 points, or 0.2%, to 2,262.67.

Stocks have rallied in recent weeks amid a string of encouraging reports on hiring, consumer confidence and spending that point to an accelerating U.S. economy. COVID-19 vaccinations and massive support from the U.S. government and Federal Reserve are fueling expectations for solid corporate profit growth as more businesses reopen after being forced to close or operate on a limited basis due to the pandemic.

The last round of stimulus from the government helped lift retail sales, and investors now have to weigh other proposals in Washington, which include investments in infrastructure and potential tax changes.

“Market participants are just trying to figure out, given the stimulus that’s already in the market, how do we handicap these next couple of rounds,” Martin said.

Investors also continue to be focused on the global economic recovery. China’s economy expanded at a sizzling annual pace of 18.3% in the first quarter of the year, the government reported Friday. The world’s second-largest economy contracted, as most of the world did, during the first months of the pandemic.










https://apnews.com/article/financia...cial-markets-4f867434e57e43df4b7d0f95be71473e

*S&P 500 hits another record, marks 4th weekly gain in a row*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks added to their recent gains Friday, driving the S&P 500 and Dow Jones Industrial Average to new highs.

The S&P 500 rose 0.4%, led by gains in companies that rely directly on consumer spending, health care stocks and banks, which benefited from higher Treasury yields. The benchmark index notched its fourth straight weekly gain.

The gains were tempered by modest declines in technology stocks, which have been prone to pull back when bond yields move higher. Rising bond yields tend to make shares in technology companies that have had a strong runup over the past year look too expensive. Crude oil prices slipped, weighing down energy companies.

Bond yields rose broadly after falling earlier in the week. The yield of the 10-year Treasury note rose to 1.59% from 1.53% late Thursday. Still, bond yields are down from the highs they hit earlier in the month, when the 10-year note traded at a yield of 1.75%.

“There’s sort of a churning with regard to interest rates and in the market itself,” said Tom Martin, senior portfolio manager with Globalt Investments.

The S&P 500 rose 15.05 points to 4,185.47. The Dow gained 164.68 points, or 0.5% to 34,200.67. The S&P and Dow also hit all-time highs on Thursday. The technology-heavy Nasdaq inched up 13.58 points, or 0.1%, to 14,052.34 after recovering from an early slide.

The Russell 2000 index of smaller companies added 5.60 points, or 0.2%, to 2,262.67.

Stocks have rallied in recent weeks amid a string of encouraging reports on hiring, consumer confidence and spending that point to an accelerating U.S. economy. COVID-19 vaccinations and massive support from the U.S. government and Federal Reserve are fueling expectations for solid corporate profit growth as more businesses reopen after being forced to close or operate on a limited basis due to the pandemic.

The last round of stimulus from the government helped lift retail sales, and investors now have to weigh other proposals in Washington, which include investments in infrastructure and potential tax changes.

“Market participants are just trying to figure out, given the stimulus that’s already in the market, how do we handicap these next couple of rounds,” Martin said.

Investors also continue to be focused on the global economic recovery. China’s economy expanded at a sizzling annual pace of 18.3% in the first quarter of the year, the government reported Friday. The world’s second-largest economy contracted, as most of the world did, during the first months of the pandemic.

Homebuilder stocks moved broadly higher Friday after the Commerce Department said that U.S. home construction rebounded strongly in March to the fastest pace since 2006, as builders recovered from an unusually frigid February. The report also showed that applications for building permits, a good sign of future activity, increased by 2.7% to a seasonally adjusted annual rate of 1.77 million units. D.R. Horton rose 3.6% and KB Home gained 3.3%.

The rally in builder stocks helped power the S&P 500′s consumer discretionary sector’s gains, while Pfizer was among the big winners in the index’s health care sector, notching a 2.6% gain.

Technology and communication services stocks fell modestly. Apple slipped 0.3% and Facebook dropped 0.5%.

Several companies rose after reporting solid earnings. Paint and coatings maker PPG Industries jumped 8.7% for the biggest gain in the S&P 500 after handily beating Wall Street’s first-quarter profit and revenue forecasts. Other standouts include J.B. Hunt Transport Services, which rose 1.4% after reporting solid financial results.

The market is heading into the busiest two weeks of the earnings reporting season. Expectations are high for companies to show they are recovering from the pandemic or have roadmaps to show when profits will return. Dozens of companies will report next week, including Coca-Cola, Johnson & Johnson, Verizon Communications, Dow Chemical and American Airlines.


----------



## bigdog

ASX 200 expected to storm higher​
The Australian share market looks set to start the week on a very positive note. This follows a solid finish to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the week 35 points or 0.5% higher this morning. On Wall Street on Friday, the Dow Jones rose 0.5%, the S&P 500 climbed 0.35%, and the Nasdaq pushed 0.1% higher. The Dow hit a new record high after posting its fourth straight week of gains.


----------



## bigdog

*Stocks close lower, pulling indexes below record highs*

Technology companies helped drag U.S. stocks broadly lower Monday, pulling the indexes below the record highs they reached last week.

The S&P 500 dropped 0.5%, shedding more than a third of its gain from last week. Tech stocks were the biggest weight on the market, but the losses were shared broadly by a mix of banks, energy companies and others that rely on direct consumer spending. Chipmaker Intel fell 1.7%, Capital One lost 0.9% and Valero Energy slid 2.3%. Only real estate stocks eked out a gain.

The pullback came as bond yields mostly moved higher after easing last week. Rising bond yields tend to make shares in technology companies that have had a strong runup over the past year look too expensive.

“What we’re seeing in the markets today is that bond yields, after falling last week, are back to rising again,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. “And you can see that negative correlation between rising bond yields and declining prices in technology is still with us.”

The S&P 500 fell 22.21 points to 4,163.26. The benchmark index is coming off its fourth straight weekly gain. The Dow Jones Industrial Average lost 123.04 points, or 0.4%, to 34,077.63. Both the S&P 500 and Dow hit all-time highs on Friday.

The tech-heavy Nasdaq composite slid 137.58 points, or 1%, to 13,914.77, while the Russell 2000 index of smaller companies fell more than the broader market, shedding 30.67 points, or 1.4%, to 2,232.

Stocks have rallied in recent weeks amid a string of encouraging reports on hiring, consumer confidence and spending that point to an accelerating U.S. economy. COVID-19 vaccinations and massive support from the U.S. government and Federal Reserve are fueling expectations for solid corporate profit growth as more businesses reopen after being forced to close or operate on a limited basis due to the pandemic.

A good amount of investor attention is focused on the bond market as government stimulus and the recovering economy have led to concerns about inflation. The yield on the 10-year Treasury note rose to 1.60% from 1.57% late Friday.

Even so, company earnings are front and center this week, as investors look to justify the recent rise in stock prices with the profits needed to keep the market fueled in this recovery. On average analysts are expecting profits across the S&P 500 to be up 24% from a year earlier, according to FactSet.

The busiest stretch for quarterly results begins this week, with 81 out of the 500 members of the S&P 500 due to report results, as well as 10 out the 30 members of the Dow, including Johnson & Johnson, Verizon Communications and Intel.

Coca-Cola added 0.6% Monday after beating Wall Street’s first-quarter profit forecasts and giving investors an encouraging update on improving sales. Harley-Davidson jumped 9.7% after handily beating analysts’ profit forecasts.

“Investors want to see validation of this very sharp positive economic momentum that is starting to get priced in,” Sunitha Thomas, national portfolio advisor at Northern Trust Wealth Management. “They want to see that earnings momentum is really there for the rest of the year.”

ASX 200 expected to fall​The Australian share market looks set to trade lower on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 27 points or 0.4% lower this morning. This follows a disappointing start to the week on Wall Street, which saw the Dow Jones fall 0.36%, the S&P 500 drop 0.53%, and the Nasdaq tumble 0.98% lower.









https://apnews.com/article/joe-bide...rus-pandemic-b3604398cdcd46aea386f6bb551cc939

*Stocks close lower, pulling indexes below record highs*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies helped drag U.S. stocks broadly lower Monday, pulling the indexes below the record highs they reached last week.

The S&P 500 dropped 0.5%, shedding more than a third of its gain from last week. Tech stocks were the biggest weight on the market, but the losses were shared broadly by a mix of banks, energy companies and others that rely on direct consumer spending. Chipmaker Intel fell 1.7%, Capital One lost 0.9% and Valero Energy slid 2.3%. Only real estate stocks eked out a gain.

The pullback came as bond yields mostly moved higher after easing last week. Rising bond yields tend to make shares in technology companies that have had a strong runup over the past year look too expensive.

“What we’re seeing in the markets today is that bond yields, after falling last week, are back to rising again,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. “And you can see that negative correlation between rising bond yields and declining prices in technology is still with us.”

The S&P 500 fell 22.21 points to 4,163.26. The benchmark index is coming off its fourth straight weekly gain. The Dow Jones Industrial Average lost 123.04 points, or 0.4%, to 34,077.63. Both the S&P 500 and Dow hit all-time highs on Friday.

The tech-heavy Nasdaq composite slid 137.58 points, or 1%, to 13,914.77, while the Russell 2000 index of smaller companies fell more than the broader market, shedding 30.67 points, or 1.4%, to 2,232.

Stocks have rallied in recent weeks amid a string of encouraging reports on hiring, consumer confidence and spending that point to an accelerating U.S. economy. COVID-19 vaccinations and massive support from the U.S. government and Federal Reserve are fueling expectations for solid corporate profit growth as more businesses reopen after being forced to close or operate on a limited basis due to the pandemic.

A good amount of investor attention is focused on the bond market as government stimulus and the recovering economy have led to concerns about inflation. The yield on the 10-year Treasury note rose to 1.60% from 1.57% late Friday.

Even so, company earnings are front and center this week, as investors look to justify the recent rise in stock prices with the profits needed to keep the market fueled in this recovery. On average analysts are expecting profits across the S&P 500 to be up 24% from a year earlier, according to FactSet.

The busiest stretch for quarterly results begins this week, with 81 out of the 500 members of the S&P 500 due to report results, as well as 10 out the 30 members of the Dow, including Johnson & Johnson, Verizon Communications and Intel.

Coca-Cola added 0.6% Monday after beating Wall Street’s first-quarter profit forecasts and giving investors an encouraging update on improving sales. Harley-Davidson jumped 9.7% after handily beating analysts’ profit forecasts.

“Investors want to see validation of this very sharp positive economic momentum that is starting to get priced in,” Sunitha Thomas, national portfolio advisor at Northern Trust Wealth Management. “They want to see that earnings momentum is really there for the rest of the year.”

Outside of earnings, several stocks made big moves Monday.

Tesla dropped 3.4% after two people ere killed in Texas in a crash of one of its models. Authorities say there was no one in the driver’s seat at the time of the crash. It’s not clear whether the car’s driver-assist system was being used.

Peloton slid 7.3% after regulators issued a safety notice over the exercise equipment company’s new treadmill. The company hasn’t been forced to recall the treadmill, and it’s fighting the issue.

Altria Group slumped 6.2% following a published report that the Biden administration is considering requiring tobacco companies to reduce the nicotine level of cigarettes sold in the U.S.


----------



## bigdog

*Stocks close lower on Wall Street, led by tech and banks*

Stocks fell for the second straight day Tuesday, giving up more of their recent gains as Wall Street shifts its focus on a busy week of corporate earnings reports.

The S&P 500 fell 0.7%. The benchmark index has now lost nearly all of its gain from last week. Apple fell 1.3% as part of a broad slide in technology companies. Banks also accounted for a big share of the selling, which came as bond yields fell, reversing course after moving higher on Monday.

The yield on the 10-year Treasury fell to 1.56% from 1.60%. Bank of America dropped 2.8% and Citigroup slid 3.2%.

Investors turned defensive, favoring utilities, real estate stocks and a mix of companies that make consumer staples like food and household products. General Mills rose 1.6% and Clorox added 3%.

The market has been swaying between gains and record highs to pullbacks as investors weigh solid economic growth against the risks still posed by the virus pandemic. That push and pull will likely continue as vaccine distribution rolls on and various industries reopen.

“Overall, we’re going to have some volatility in the market this year, but everything to me looks fairly rosy for the next six months or so,” said Sylvia Jablonski, chief investment officer at Defiance ETFs.

The S&P 500 fell 28.32 points to 4,134.94. The Dow Jones Industrial Average lost 256.33 points, or 0.8%, to 33,821.30. Both the S&P 500 and Dow hit all-time highs on Friday. After shedding an early gain, the technology-heavy Nasdaq slid 128.50 points, or 0.9%, to 13,786.27.

The Russell 2000 index of smaller company stocks, which has been outpacing the broader market all year, took a heavier loss, shedding 43.79 points, or 2%, to 2,188.21.

Investors are in the middle of first-quarter earnings season. Roughly 80 members of the S&P 500 will report their results this week, as well as one out of every three members of the Dow. Wall Street will be looking to see if Corporate America is recovering with the rest of the economy from the coronavirus pandemic.

On average, analysts expect quarterly profits across the S&P 500 to be up 24% from a year earlier, according to FactSet.

While earnings are likely to drive the market’s gyrations the next few weeks, investors remain concerned about whether companies are prepared to deal with the impact of higher interest rates should inflation increase, said Greg Bassuk, CEO of Axs Investments.

ASX 200 expected to sink​
It looks set to be a tough day of trade for the Australian share market on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day a sizeable 78 points or 1.1% lower this morning. 

This follows a poor night of trade on Wall Street, which saw the Dow Jones fall 0.75%, the S&P 500 drop 0.68%, and the Nasdaq tumble 0.92%.










https://apnews.com/article/asia-business-stock-markets-general-news-abe71cb7dd56704b300c99e225ac93f0

*Stocks close lower on Wall Street, led by tech and banks*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks fell for the second straight day Tuesday, giving up more of their recent gains as Wall Street shifts its focus on a busy week of corporate earnings reports.

The S&P 500 fell 0.7%. The benchmark index has now lost nearly all of its gain from last week. Apple fell 1.3% as part of a broad slide in technology companies. Banks also accounted for a big share of the selling, which came as bond yields fell, reversing course after moving higher on Monday.

The yield on the 10-year Treasury fell to 1.56% from 1.60%. Bank of America dropped 2.8% and Citigroup slid 3.2%.

Investors turned defensive, favoring utilities, real estate stocks and a mix of companies that make consumer staples like food and household products. General Mills rose 1.6% and Clorox added 3%.

The market has been swaying between gains and record highs to pullbacks as investors weigh solid economic growth against the risks still posed by the virus pandemic. That push and pull will likely continue as vaccine distribution rolls on and various industries reopen.

“Overall, we’re going to have some volatility in the market this year, but everything to me looks fairly rosy for the next six months or so,” said Sylvia Jablonski, chief investment officer at Defiance ETFs.

The S&P 500 fell 28.32 points to 4,134.94. The Dow Jones Industrial Average lost 256.33 points, or 0.8%, to 33,821.30. Both the S&P 500 and Dow hit all-time highs on Friday. After shedding an early gain, the technology-heavy Nasdaq slid 128.50 points, or 0.9%, to 13,786.27.

The Russell 2000 index of smaller company stocks, which has been outpacing the broader market all year, took a heavier loss, shedding 43.79 points, or 2%, to 2,188.21.

Investors are in the middle of first-quarter earnings season. Roughly 80 members of the S&P 500 will report their results this week, as well as one out of every three members of the Dow. Wall Street will be looking to see if Corporate America is recovering with the rest of the economy from the coronavirus pandemic.

On average, analysts expect quarterly profits across the S&P 500 to be up 24% from a year earlier, according to FactSet.

While earnings are likely to drive the market’s gyrations the next few weeks, investors remain concerned about whether companies are prepared to deal with the impact of higher interest rates should inflation increase, said Greg Bassuk, CEO of Axs Investments.

“One question is with rates likely continuing to rise over the months ahead, and more importantly with inflation likely to rise, whether companies are going to be able to charge more for their products to keep up with greater expenses,” Bassuk said.

United Airlines slid 8.5% after reporting a loss that was wider than analysts were expecting, and drugmaker Abbott Laboratories fell 3.6% after reporting revenue that fell short of forecasts.

Kansas City Southern jumped 15.2% for the biggest gain in the S&P 500 after another Canadian railway company offered to buy the railroad for $33.7 billion, far higher than a $25 billion offer made by Canadian Pacific last month.

Netflix slumped 10.6% in after-hours trading after the video streaming pioneer said it added 4 million more worldwide subscribers from January through March, its smallest gain during that three-month period in four years. That was about 2 million fewer than both management and analysts had predicted Netflix would add during the first quarter.


----------



## bigdog

*Stocks end higher on Wall Street after a day of steady gains*

Technology companies and banks helped lift stocks on Wall Street broadly higher Wednesday, enabling the market to claw back some of its losses after a downbeat start to the week.

The S&P 500 rose 0.9%, snapping a two-day slide. Most of the companies in the benchmark index rose, with technology, financial, and health care stocks accounting for a big share of the gains. Tesla, Amazon and other companies that rely directly on consumer spending also rose. Communication and utilities stocks fell.

Investors continued to work through company earnings reports while keeping an eye on bond yields, which eased lower. Small-company stocks far outpaced the broader market after slumping a day earlier.

“You had small-caps really get beaten up over the last few days, but today there’s some relief, and that’s pretty much enough to support everything else, at least for today,” said Willie Delwiche, investment strategist at All Star Charts. “At the end of the day, it’s still a bull market. It’s more volatile than it was last year, but the path of least resistance is still higher.”

The S&P 500 rose 38.48 points to 4,173.42. The Dow Jones Industrial Average gained 316.01 points, or 0.9%, to 34,137.31. Both the S&P 500 and Dow hit all-time highs on Friday. The technology-heavy Nasdaq added 163.95 points, or 1.2%, to 13,950.22.

The Russell 2000 index of smaller company stocks, which has been outpacing the broader market all year, led the way higher, climbing 51.42 points, or 2.3%, to 2,239.63.

The yield on the 10-year Treasury held steady at 1.56%.

Much of the market’s focus over the next two weeks will be on individual companies and how well their quarterly results turn out. This week roughly 80 members of the S&P 500 are due to report results, as well as one out of every three members of the Dow. On average, analysts expect quarterly profits across the S&P 500 to climb 24% from a year earlier, according to FactSet.

“Those companies that meet or beat on revenue and paint a nice picture for the rest of the year are being rewarded,” said J.J. Kinahan, chief strategist with TD Ameritrade. “When a railroad company is saying we really see improvement for the second half of the year, that’s a really good sign.”

ASX 200 to rebound​
The Australian share market looks set to rebound on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 31 points or 0.45% higher today. This follows a positive night of trade on Wall Street, which saw the Dow Jones jump 0.93%, the S&P 500 rise 0.93% and the Nasdaq storm 1.19% higher.











https://apnews.com/article/technolo...andemic-asia-4eddf1eee9c680da9d6e970d792332a9

*Stocks end higher on Wall Street after a day of steady gains*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies and banks helped lift stocks on Wall Street broadly higher Wednesday, enabling the market to claw back some of its losses after a downbeat start to the week.

The S&P 500 rose 0.9%, snapping a two-day slide. Most of the companies in the benchmark index rose, with technology, financial, and health care stocks accounting for a big share of the gains. Tesla, Amazon and other companies that rely directly on consumer spending also rose. Communication and utilities stocks fell.

Investors continued to work through company earnings reports while keeping an eye on bond yields, which eased lower. Small-company stocks far outpaced the broader market after slumping a day earlier.

“You had small-caps really get beaten up over the last few days, but today there’s some relief, and that’s pretty much enough to support everything else, at least for today,” said Willie Delwiche, investment strategist at All Star Charts. “At the end of the day, it’s still a bull market. It’s more volatile than it was last year, but the path of least resistance is still higher.”

The S&P 500 rose 38.48 points to 4,173.42. The Dow Jones Industrial Average gained 316.01 points, or 0.9%, to 34,137.31. Both the S&P 500 and Dow hit all-time highs on Friday. The technology-heavy Nasdaq added 163.95 points, or 1.2%, to 13,950.22.

The Russell 2000 index of smaller company stocks, which has been outpacing the broader market all year, led the way higher, climbing 51.42 points, or 2.3%, to 2,239.63.

The yield on the 10-year Treasury held steady at 1.56%.

Much of the market’s focus over the next two weeks will be on individual companies and how well their quarterly results turn out. This week roughly 80 members of the S&P 500 are due to report results, as well as one out of every three members of the Dow. On average, analysts expect quarterly profits across the S&P 500 to climb 24% from a year earlier, according to FactSet.

“Those companies that meet or beat on revenue and paint a nice picture for the rest of the year are being rewarded,” said J.J. Kinahan, chief strategist with TD Ameritrade. “When a railroad company is saying we really see improvement for the second half of the year, that’s a really good sign.”

Railroad operator CSX said its first-quarter profit fell because of higher expenses, but it expects to benefit as the U.S. economy strengthens further over the rest of the year. The stock rose 4.3%

Health care stocks helped lead the broader market higher after several companies reported solid financial results. Surgical device maker Intuitive Surgical rose 9.9% after handily beating analysts’ first-quarter forecasts. Medical device maker Edwards Lifesciences rose 6.3% after also reporting strong financial results.

Netflix slumped 7.4% for the biggest decline in the S&P 500. The video streaming pioneer disappointed investors with its latest report on subscriber additions, which came in below its own forecasts. The gangbuster growth Netflix had seen during the pandemic appeared to be slowing as people start leaving their homes more and as competition from rival services picks up.

Investors are looking to justify the market’s advance this year, despite the lingering pandemic and higher-than-normal unemployment. There are also signs of COVID infections increasing outside the U.S. in major economies such as India and Brazil once again.


----------



## bigdog

*Stocks end lower after report on Biden’s tax proposal*

A report that President Biden will propose a hefty tax increase on the gains wealthy individuals reap from investments triggered a stock market sell-off Thursday afternoon that left indexes broadly lower.

Investors who earn $1 million or more would have to pay a 39.6% tax rate on any capital gains, nearly double the current rate for Americans in that income bracket, according to the report by Bloomberg. A separate surtax on investment income could boost the overall federal tax rate for wealthy investors as high as 43.3%, the report said, citing unnamed people familiar with the proposal.

The S&P 500 fell 0.9%, wiping out an early gain. The benchmark index gave up nearly all of its gain from the day before, leaving it on track for its first weekly loss in five weeks.

The selling was widespread, with every sector in the S&P 500 closing lower. Technology stocks, banks and companies that rely on consumer spending, accounted for much of the skid. Treasury yields held mostly steady.

“The things that the market is going to react to are the unknowns,” said Andrew Mies, chief investment officer of 6Meridian. “The knowns are the economy is good and improving, earnings are good and vaccinations are going pretty well in the United States. The things the market doesn’t know are tax policy, both at the corporate and individual level, and what the Fed is going to do in the next 12 to 18 months.”

The S&P 500 lost 38.44 points to 4,134.98. The Dow Jones Industrial Average fell 321.41 points, or 0.9%, to 33,815.90. The Nasdaq slid 131.81 points, or 0.9%, to 13,818.41.

The S&P 500, which set a record high on Friday, started the week with a two-day slide before closing higher Wednesday. It’s still down 1.2% for the week.

Smaller company stocks also lost ground. The Russell 2000 index gave up 7.01 points, or 0.3%, to 2,232.61.

Stocks have rallied in recent weeks amid a string of encouraging reports on hiring, retail sales and other economic data. COVID-19 vaccinations and massive support from the U.S. government and Federal Reserve are fueling expectations for solid corporate profit growth as more businesses reopen after being forced to close or operate on a limited basis due to the pandemic.

The last round of stimulus from the government helped lift retail sales, and investors now have to weigh other proposals in Washington, including possible changes to tax laws and a proposed $2.3 trillion infrastructure package that Biden has called for spending over eight years.

Washington aside, investors are focusing on earnings as the bulk of companies in the S&P 500 spend the next few weeks reporting their financial results. Wall Street is hoping to get a better sense of just how much companies in various sectors are benefiting from the economic recovery. They are also listening for clues on prospects for the recovery to continue as vaccine distribution rolls on and people try to return to some semblance of normal.

ASX 200 expected to fall​
The Australian share market looks set to end the week on a disappointing note. According to the latest SPI futures, the ASX 200 is expected to open the day 24 points or 0.35% lower this morning. 

This follows a poor night of trade on Wall Street, which saw the Dow Jones, S&P 500, and Nasdaq all fall 0.9%. This follows reports that President Biden is eyeing a capital gains tax hike in the US.











https://apnews.com/article/health-t...usiness-asia-156d6987fe7508599c20abfeebb63802

*Stocks end lower after report on Biden’s tax proposal*

By DAMIAN J. TROISE and ALEX VEIGA

A report that President Biden will propose a hefty tax increase on the gains wealthy individuals reap from investments triggered a stock market sell-off Thursday afternoon that left indexes broadly lower.

Investors who earn $1 million or more would have to pay a 39.6% tax rate on any capital gains, nearly double the current rate for Americans in that income bracket, according to the report by Bloomberg. A separate surtax on investment income could boost the overall federal tax rate for wealthy investors as high as 43.3%, the report said, citing unnamed people familiar with the proposal.

The S&P 500 fell 0.9%, wiping out an early gain. The benchmark index gave up nearly all of its gain from the day before, leaving it on track for its first weekly loss in five weeks.

The selling was widespread, with every sector in the S&P 500 closing lower. Technology stocks, banks and companies that rely on consumer spending, accounted for much of the skid. Treasury yields held mostly steady.

“The things that the market is going to react to are the unknowns,” said Andrew Mies, chief investment officer of 6Meridian. “The knowns are the economy is good and improving, earnings are good and vaccinations are going pretty well in the United States. The things the market doesn’t know are tax policy, both at the corporate and individual level, and what the Fed is going to do in the next 12 to 18 months.”

The S&P 500 lost 38.44 points to 4,134.98. The Dow Jones Industrial Average fell 321.41 points, or 0.9%, to 33,815.90. The Nasdaq slid 131.81 points, or 0.9%, to 13,818.41.

The S&P 500, which set a record high on Friday, started the week with a two-day slide before closing higher Wednesday. It’s still down 1.2% for the week.

Smaller company stocks also lost ground. The Russell 2000 index gave up 7.01 points, or 0.3%, to 2,232.61.

Stocks have rallied in recent weeks amid a string of encouraging reports on hiring, retail sales and other economic data. COVID-19 vaccinations and massive support from the U.S. government and Federal Reserve are fueling expectations for solid corporate profit growth as more businesses reopen after being forced to close or operate on a limited basis due to the pandemic.

The last round of stimulus from the government helped lift retail sales, and investors now have to weigh other proposals in Washington, including possible changes to tax laws and a proposed $2.3 trillion infrastructure package that Biden has called for spending over eight years.

Washington aside, investors are focusing on earnings as the bulk of companies in the S&P 500 spend the next few weeks reporting their financial results. Wall Street is hoping to get a better sense of just how much companies in various sectors are benefiting from the economic recovery. They are also listening for clues on prospects for the recovery to continue as vaccine distribution rolls on and people try to return to some semblance of normal.

AT&T rose 4.2% after reporting results that beat expectations, helped by higher wireless phone charges as well as the success of its streaming service HBOMax. Equifax jumped 14.9% after also reporting strong results.

Union Pacific fell 2.4% after the railroad operator reported a 9% drop in profit.

The broader market has had a choppy week of ups and downs as Wall Street digests earnings and tries to gauge how much and how quickly the U.S. and global economy will recover through 2021.

“It’s not a clear time in the market,” said Jay Hatfield, CEO and portfolio manager at Infrastructure Capital Advisors. “You’re in a trading range until you get some more clarity on the global recovery.”

The U.S. is showing solid signs of recovery, while Europe and other parts of the world lag behind. That will likely change as soon as more vaccines are distributed internationally, Hatfield said.

Credit Suisse dropped 3.6% after the Swiss bank announced it would issue more stock to help it recover from the losses it suffered because of the implosion of a hedge fund earlier this year. Credit Suisse had been a primary backer of Archegos Capital Management, which collapsed last month after several of its bets went sour.

Investors got a bit of good news on the economy when the Labor Department reported that the number of Americans filing for unemployment fell again last week. Unemployment claims were 547,000, the lowest point since the pandemic struck and an encouraging sign that layoffs are slowing.

The yield on the 10-year Treasury slipped to 1.55% from 1.56% late Wednesday.


----------



## bigdog

*Stocks rise, erasing most of S&P 500′s weekly losses*

Stocks closed out a choppy week of trading with a broad rally, though the gains were not enough to keep the S&P 500 from its first weekly loss in the last five.

The benchmark index rose 1.1% Friday, clawing back all of its losses from a day earlier. It posted a 0.1% loss for the week. The gains were shared broadly by nearly every sector in the index. Technology companies accounted for a big slice of the rally, along with banks, communication stocks and companies that rely on consumer spending. The utilities and consumer staples sectors closed slightly lower. Treasury yields inched higher.

Traders focused on company earnings from big names like Intel, American Express and Honeywell. Shares in Kimberly-Clark, the maker of Huggies diapers and other consumer products, fell by the most since last October after the company reported disappointing results.

Corporate earnings have been mostly positive, but investors are weighing economic growth against threats from the pandemic and worries about changes in tax policy.

“Earnings are very good,” said Chris Gaffney, president of TIAA Bank World Markets. “That’s going to support higher stock prices along with the low interest rate environment we’re seeing.”

The S&P 500 gained 45.19 points to 4,180.17. The Dow Jones Industrial Average rose 227.59 points, or 0.7%, to 34,043.49. The tech-heavy Nasdaq climbed 198.40 points, or 1.4%, to 14,016.81.

Smaller company stocks outgained the broader market. The Russell 2000 index rose 39.24 points, or 1.8%, to 2,271.86.

Banks made solid gains as bond yields ticked higher, which allows them to charge more lucrative interest on loans. The yield on the 10-year Treasury rose to 1.56% from 1.55% late Thursday.

Wall Street has been in rally mode in recent weeks as the rollout of COVID-19 vaccinations, the massive support from the U.S. government and Federal Reserve, and a string of encouraging economic data fuel expectations for a stronger economy and solid corporate profit growth this year.

About a quarter of S&P 500 companies have reported quarterly results so far this earnings season. Of these, 84% have delivered earnings that topped Wall Street’s estimates, according to FactSet. Earnings are also blowing away analysts’ forecasts by a wider margin than average, coming in 23.6% above above the estimates, versus the 5-year average of 8.9%, according to FactSet.

Traders bid up shares in several companies Friday that reported quarterly results that beat Wall Street’s estimates. Barbie-maker Mattel added 0.8%, Snap gained 7.4% and Boston Beer rose 3%.










https://apnews.com/article/joe-bide...yo-hong-kong-18a1b2f7d15c772fe73bb9e01545c2eb

*Stocks rise, erasing most of S&P 500′s weekly losses*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed out a choppy week of trading with a broad rally, though the gains were not enough to keep the S&P 500 from its first weekly loss in the last five.

The benchmark index rose 1.1% Friday, clawing back all of its losses from a day earlier. It posted a 0.1% loss for the week. The gains were shared broadly by nearly every sector in the index. Technology companies accounted for a big slice of the rally, along with banks, communication stocks and companies that rely on consumer spending. The utilities and consumer staples sectors closed slightly lower. Treasury yields inched higher.

Traders focused on company earnings from big names like Intel, American Express and Honeywell. Shares in Kimberly-Clark, the maker of Huggies diapers and other consumer products, fell by the most since last October after the company reported disappointing results.

Corporate earnings have been mostly positive, but investors are weighing economic growth against threats from the pandemic and worries about changes in tax policy.

“Earnings are very good,” said Chris Gaffney, president of TIAA Bank World Markets. “That’s going to support higher stock prices along with the low interest rate environment we’re seeing.”

The S&P 500 gained 45.19 points to 4,180.17. The Dow Jones Industrial Average rose 227.59 points, or 0.7%, to 34,043.49. The tech-heavy Nasdaq climbed 198.40 points, or 1.4%, to 14,016.81.

Smaller company stocks outgained the broader market. The Russell 2000 index rose 39.24 points, or 1.8%, to 2,271.86.

Banks made solid gains as bond yields ticked higher, which allows them to charge more lucrative interest on loans. The yield on the 10-year Treasury rose to 1.56% from 1.55% late Thursday.

Wall Street has been in rally mode in recent weeks as the rollout of COVID-19 vaccinations, the massive support from the U.S. government and Federal Reserve, and a string of encouraging economic data fuel expectations for a stronger economy and solid corporate profit growth this year.

About a quarter of S&P 500 companies have reported quarterly results so far this earnings season. Of these, 84% have delivered earnings that topped Wall Street’s estimates, according to FactSet. Earnings are also blowing away analysts’ forecasts by a wider margin than average, coming in 23.6% above above the estimates, versus the 5-year average of 8.9%, according to FactSet.

Traders bid up shares in several companies Friday that reported quarterly results that beat Wall Street’s estimates. Barbie-maker Mattel added 0.8%, Snap gained 7.4% and Boston Beer rose 3%.

Some quarterly report cards failed to impress investors. Intel fell 5.3% after the company said late Thursday that it expects the ongoing chip supply shortage to remain for some time. The shortage of semiconductors has impacted other industries too. Car manufacturers like Ford and General Motors have had to halt production due to the lack of chips.

American Express slid 1.9% after the company reported a 10% drop in revenue from last year as many of its customers stopped using their cards for travel, entertainment and dining. The company has called 2021 a “transition year” and did not give an outlook for the upcoming year due to the uncertainty on when travel and dining would return in the U.S. and globally.

Kimberly-Clark fell 5.9% for the biggest decline in the S&P 500 after reporting disappointing first-quarter financial results.

Next week will be another busy period for earnings, with 181 S&P 500 companies, including Tesla, Starbucks, Microsoft and Amazon.com, set to report results.

Investors are also weighing the implications of President Joe Biden’s plans to introduce higher capital gains taxes to help pay for the increased government spending to help the economy recover from the pandemic. Bloomberg News reported the pending proposal Thursday afternoon, citing unidentified sources.

Higher taxes on capital gains would make stocks marginally more expensive in the long term, which might impact the market’s overall valuation. Despite millions of Americans having their retirement funds in the stock and bond markets, most stocks are owned by the rich.

Stocks closed lower on Thursday following reports of Biden’s proposed tax policy changes, but the news shouldn’t have surprised investors, Gaffney said.

“It was a campaign promise,” Gaffney said. “The sell-off was overdone and so today we’re back up.”

Meanwhile, the price of Bitcoin dropped about 2% to $50,675 Friday, according to the tracking site CoinDesk. The cryptocurrency had traded for as much as $63,000 as recently as last week.


----------



## bigdog

ASX 200 futures pointing higher​The Australian share market looks set to start the week much as it finished it. According to the latest SPI futures, the ASX 200 is expected to open the week 4 points higher this morning. 

This is despite Wall Street finishing the week very strongly on Friday. The Dow Jones rose 0.7%, the S&P 500 climbed 1.1%, and the Nasdaq stormed 1.4% higher.


----------



## bigdog

*Stocks reach more records as earnings kick into high gear*

Technology companies helped lift stocks modestly higher on Wall Street Monday, nudging the S&P 500 and Nasdaq indexes to all-time highs.

The S&P 500 rose 0.2%, with only slightly more than half the companies in the index notching gains. Banks and companies that rely on consumer spending were among the winners, outweighing a pullback in household goods makers and health care stocks, among others.

A rally in technology companies, which powered much of the market’s gains in 2020, helped push the Nasdaq to its first record high since Feb. 12. The index fell more than 10% from that peak by March 8, what is known on Wall Street as a “correction.” With Monday’s gain, the Nasdaq has recouped all of its losses from that March slide.

The Dow Jones Industrial Average closed slightly lower, while small company stocks outpaced the broader market, a sign investors are feeling confident about the economy. Treasury yields were broadly higher.

The market’s modest gains came as investors geared up for the busiest week for earnings so far this season. Of the 500 members of the S&P 500 index, 181 will report this week. Ten of the 30 members of the Dow will also release their results.

“This week is an extremely important week overall for the S&P 500 companies,” said Quincy Krosby, chief market strategist at Prudential Financial.

The S&P 500 rose 7.45 points to 4,187.62. The index has posted a weekly gain four out of the past five weeks. The Nasdaq gained 121.97 points, or 0.9%, to 14,138.78. The Dow slipped 61.92 points, or 0.2%, to 33,981.57. The Russell 2000 index of smaller companies climbed 26.15 points, or 1.2%, to 2,298.01.

With millions of vaccines going out daily and trillions of dollars worth of government-led economic support being paid out, investors have turned much of their attention to how well the global economy — and corporate profits — will do in the recovery. Corporate profits in the S&P 500 are expected to be up 24% from this time a year ago, according to FactSet.

Earnings growth is being welcomed by investors who have had to justify high stock values as many companies continue to emerge from a pandemic slump.

“From an absolute perspective, everybody’s expensive,” said Sam Stovall, chief investment strategist at CFRA. “Investors are basically saying we can live with that because they believe earnings are going to be even stronger than currently projected.”

About a quarter of S&P 500 companies have reported quarterly results so far this earnings season. Of these, 84% have delivered earnings that topped Wall Street’s estimates, according to FactSet.

ASX 200 expected to rise​The Australian share market looks set to bounce back on Tuesday following a solid night start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 10 points or 0.15% higher this morning. In the United States, the Dow Jones dropped 0.18% but the S&P 500 rose 0.18% and the Nasdaq climbed 0.87% to a record close.











https://apnews.com/article/technolo...yo-hong-kong-170492d96109bdbc8ea70507c8cb6314

*Stocks reach more records as earnings kick into high gear*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies helped lift stocks modestly higher on Wall Street Monday, nudging the S&P 500 and Nasdaq indexes to all-time highs.

The S&P 500 rose 0.2%, with only slightly more than half the companies in the index notching gains. Banks and companies that rely on consumer spending were among the winners, outweighing a pullback in household goods makers and health care stocks, among others.

A rally in technology companies, which powered much of the market’s gains in 2020, helped push the Nasdaq to its first record high since Feb. 12. The index fell more than 10% from that peak by March 8, what is known on Wall Street as a “correction.” With Monday’s gain, the Nasdaq has recouped all of its losses from that March slide.

The Dow Jones Industrial Average closed slightly lower, while small company stocks outpaced the broader market, a sign investors are feeling confident about the economy. Treasury yields were broadly higher.

The market’s modest gains came as investors geared up for the busiest week for earnings so far this season. Of the 500 members of the S&P 500 index, 181 will report this week. Ten of the 30 members of the Dow will also release their results.

“This week is an extremely important week overall for the S&P 500 companies,” said Quincy Krosby, chief market strategist at Prudential Financial.

The S&P 500 rose 7.45 points to 4,187.62. The index has posted a weekly gain four out of the past five weeks. The Nasdaq gained 121.97 points, or 0.9%, to 14,138.78. The Dow slipped 61.92 points, or 0.2%, to 33,981.57. The Russell 2000 index of smaller companies climbed 26.15 points, or 1.2%, to 2,298.01.

With millions of vaccines going out daily and trillions of dollars worth of government-led economic support being paid out, investors have turned much of their attention to how well the global economy — and corporate profits — will do in the recovery. Corporate profits in the S&P 500 are expected to be up 24% from this time a year ago, according to FactSet.

Earnings growth is being welcomed by investors who have had to justify high stock values as many companies continue to emerge from a pandemic slump.

“From an absolute perspective, everybody’s expensive,” said Sam Stovall, chief investment strategist at CFRA. “Investors are basically saying we can live with that because they believe earnings are going to be even stronger than currently projected.”

About a quarter of S&P 500 companies have reported quarterly results so far this earnings season. Of these, 84% have delivered earnings that topped Wall Street’s estimates, according to FactSet.

Elevator and escalator maker Otis Worldwide climbed 7% for the biggest gain in the S&P 500 after beating analysts’ first-quarter profit forecasts.

Tesla fell 2.5% in after-hours trading following the release of the electric car maker’s quarterly results.

Of the companies to report this week, investors will get results from Apple, Microsoft, Boeing, McDonald’s and others.

The bond market remained relatively stable. The yield on the 10-year Treasury note rose to 1.57% from 1.56% Friday. Bond yields have remained in this narrow range for the past several days, which is a respite for investors after dealing with higher volatility in the bond market earlier this year.

Investors will be looking to the Federal Reserve as the nation’s central bank holds a two-day policy meeting on Tuesday and Wednesday. Investors do not expect interest rates to change for several months, but will be looking for any guidance the Fed has to provide on their thoughts on inflation and the economic recovery.

In addition, the market will be focused Wednesday on President Biden’s prime-time address to Congress and what new details it may bring on plans for a infrastructure package and tax reform.

Meanwhile, the price of Bitcoin rose 8.8% to $53,877. The cryptocurrency had traded for as much as $63,000 as recently as last week.


----------



## bigdog

*Stocks end a wobbly day mixed, S&P 500 still near record*

By DAMIAN J. TROISE and ALEX VEIGA

Stock indexes closed out a wobbly day of trading on Wall Street with a mixed finish Tuesday, leaving the S&P 500 index just below its all-time high.

The benchmark index slipped less than 0.1% after wavering between small gains and losses for much of the day. Losses in technology, health care, communication services and other sectors in the index outweighed gains in banks, industrial stocks and energy companies. The Dow Jones Industrial Average also ended up essentially flat, while the Nasdaq fell.

The market’s choppy turn came as investors pored over a mixed batch of company quarterly report cards in what is the busiest week for earnings so far this season. UPS, Hasbro and Archer-Daniels-Midland were among the winners after delivering results that impressed traders. Among the losers: Tesla, Eli Lilly and General Electric.

Investors expect U.S. corporate results due out this week to show stronger profits as coronavirus vaccines are rolled out and as consumer spending strengthens.

“What’s more of a focus is really the guidance they’re giving, looking further into 2021 and beyond,” said Greg Bassuk, chairman and CEO of AXS Investments. “A lot of companies are trying to figure ultimately when the COVID-19 cloud is really going to lift.

The S&P 500 lost 0.90 points to 4,186.72. The index was coming off its latest all-time high. The Dow barely recovered from an early slide, adding 3.36 points, or less than 0.1%, to 33,984.93. The Nasdaq fell 48.56 points, or 0.3%, to 14,090.22. The tech-heavy index also set a record high on Monday.

Smaller companies fared better than the rest of the market. The Russell 2000 index inched up 3.26 points, or 0.1%, to 2,301.27.

The market has been choppy over the last few weeks as investors gauge how companies fared during the first quarter and any other information that can help paint a clearer picture of where the economy is headed. UPS vaulted 10.4% for the biggest gain in the S&P 500 after reporting another surge in delivery volumes as well as profits that came in well ahead of what investors were expecting.

Tesla, whose stock has been soaring over the past year, fell 4.5% despite reporting stronger sales of electric vehicles.

General Electric fell 0.6% after the troubled industrial giant reported a double-digit drop in revenue and a quarter loss, as the company continues to struggle in its turnaround plan. GE’s stock has been volatile this year, soaring as much as 80%.

Microsoft fell 3.1% in after-hours trading following the release of its quarterly results.

Beyond earnings, investors are watching the latest economic reports for more clues about the pace and scale of the economic recovery. Consumer confidence rose sharply for a second straight month in April, hitting the highest level since the pandemic began. Meanwhile, U.S. home prices rose in February at the fastest pace in nearly seven years as strong demand for housing collided with a tight supply of homes on the market.

ASX 200 expected to rise​It looks set to be a decent day of trade for the Australian share market on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 15 points or 0.2% higher this morning. This is despite a reasonably poor night of trade on Wall Street, which saw the Dow Jones and S&P 500 trade flat and the Nasdaq fall 0.34%.











https://apnews.com/article/health-f...-coronavirus-0942fe921aaa405663999bb64c9ccf8a

*Stocks end a wobbly day mixed, S&P 500 still near record*

By DAMIAN J. TROISE and ALEX VEIGA

Stock indexes closed out a wobbly day of trading on Wall Street with a mixed finish Tuesday, leaving the S&P 500 index just below its all-time high.

The benchmark index slipped less than 0.1% after wavering between small gains and losses for much of the day. Losses in technology, health care, communication services and other sectors in the index outweighed gains in banks, industrial stocks and energy companies. The Dow Jones Industrial Average also ended up essentially flat, while the Nasdaq fell.

The market’s choppy turn came as investors pored over a mixed batch of company quarterly report cards in what is the busiest week for earnings so far this season. UPS, Hasbro and Archer-Daniels-Midland were among the winners after delivering results that impressed traders. Among the losers: Tesla, Eli Lilly and General Electric.

Investors expect U.S. corporate results due out this week to show stronger profits as coronavirus vaccines are rolled out and as consumer spending strengthens.

“What’s more of a focus is really the guidance they’re giving, looking further into 2021 and beyond,” said Greg Bassuk, chairman and CEO of AXS Investments. “A lot of companies are trying to figure ultimately when the COVID-19 cloud is really going to lift.

The S&P 500 lost 0.90 points to 4,186.72. The index was coming off its latest all-time high. The Dow barely recovered from an early slide, adding 3.36 points, or less than 0.1%, to 33,984.93. The Nasdaq fell 48.56 points, or 0.3%, to 14,090.22. The tech-heavy index also set a record high on Monday.

Smaller companies fared better than the rest of the market. The Russell 2000 index inched up 3.26 points, or 0.1%, to 2,301.27.

The market has been choppy over the last few weeks as investors gauge how companies fared during the first quarter and any other information that can help paint a clearer picture of where the economy is headed. UPS vaulted 10.4% for the biggest gain in the S&P 500 after reporting another surge in delivery volumes as well as profits that came in well ahead of what investors were expecting.

Tesla, whose stock has been soaring over the past year, fell 4.5% despite reporting stronger sales of electric vehicles.

General Electric fell 0.6% after the troubled industrial giant reported a double-digit drop in revenue and a quarter loss, as the company continues to struggle in its turnaround plan. GE’s stock has been volatile this year, soaring as much as 80%.

Microsoft fell 3.1% in after-hours trading following the release of its quarterly results.

Beyond earnings, investors are watching the latest economic reports for more clues about the pace and scale of the economic recovery. Consumer confidence rose sharply for a second straight month in April, hitting the highest level since the pandemic began. Meanwhile, U.S. home prices rose in February at the fastest pace in nearly seven years as strong demand for housing collided with a tight supply of homes on the market.

The Federal Reserve starts a two-day policy meeting Tuesday. Investors expect the U.S. central bank to keep its key lending rate close to zero and inject more money into the financial system through bond purchases.

Bond yields remained relatively stable. The yield on the 10-year Treasury rose to 1.62% from 1.57% late Monday.

Also in Washington, Wall Street will be paying attention to President Joe Biden’s speech to a joint session of Congress on Wednesday. The speech is expected to lay out several parts of President Biden’s agenda, which will include increased infrastructure spending, likely higher taxes on the wealthy as well as higher funding for government programs.

“The question is what does it mean, not only for corporate taxes, but also personal taxes?” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.


----------



## bigdog

Bond yields also fall broadly.

A choppy day of trading on Wall Street ended with stocks modestly lower Wednesday after the Federal Reserve said it is leaving its key interest rate unchanged near zero, while noting recent improvement in the economy.

The S&P 500 slipped 0.1 percent after wavering between small gains and losses. Gains in communication services, energy and financial companies outweighed declines in technology and health care stocks. Bond yields also fell broadly, pulling back after an early rally.

In its latest policy update, the central bank left its benchmark short-term rate near zero, where it’s been since the pandemic erupted nearly a year ago, to help keep loan rates down to encourage borrowing and spending. It also said that it would keep buying $120 billion in bonds each month to try to keep longer-term borrowing rates low.

“With no meaningful change to monetary policy or communication, this meeting was simply a message to market participants to sit back and observe as the economic recovery continues to unfold,” said Charlie Ripley, senior investment strategist for Allianz Investment Management.

Stocks initially got a bump following the 2 p.m. Eastern release of the Fed’s statement, but shed those gains by the end of the day.

The S&P 500 dropped 3.54 points to 4,183.18. The benchmark index hit an all-time high on Monday. The Dow Jones Industrial Average lost 164.55 points, or 0.5 percent, to 33,820.38. The tech-heavy Nasdaq gave up 39.19 points, or 0.3 percent, to 14,051.03.

Smaller company stocks fared better than the bigger companies. The Russell 2000 index rose 2.89 points, or 0.1 percent, to 2,304.16.

Wall Street has been mostly grinding higher in recent weeks, pushing stock indexes to record highs, as the rollout of COVID-19 vaccinations, the massive support from the U.S. government and the Fed, and a string of encouraging economic data fuel expectations for a stronger economy and solid corporate profit growth this year.

The expectations for a strong rebound, and rising prices for oil, lumber and other commodities, have also spurred concerns over inflation and the prospects for higher interest rates. Those worries have helped fuel a rapid rise in bond yields from where they were at the start of the year.

ASX 200 expected to rise​The Australian share market looks set to rise again on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 17 points or 0.25% higher this morning. This is despite weakness on Wall Street overnight, which saw the Dow Jones fall 0.48%, the S&P 500 edge 0.08% lower, and the Nasdaq drop 0.28% higher. This follows the US Federal Reserve’s meeting











https://www.pressherald.com/2021/04/28/stock-indexes-slip-after-fed-leaves-rates-alone/

By DAMIAN J. TROISE and ALEX VEIGA Associated Press

Bond yields also fall broadly.

A choppy day of trading on Wall Street ended with stocks modestly lower Wednesday after the Federal Reserve said it is leaving its key interest rate unchanged near zero, while noting recent improvement in the economy.

The S&P 500 slipped 0.1 percent after wavering between small gains and losses. Gains in communication services, energy and financial companies outweighed declines in technology and health care stocks. Bond yields also fell broadly, pulling back after an early rally.

In its latest policy update, the central bank left its benchmark short-term rate near zero, where it’s been since the pandemic erupted nearly a year ago, to help keep loan rates down to encourage borrowing and spending. It also said that it would keep buying $120 billion in bonds each month to try to keep longer-term borrowing rates low.

“With no meaningful change to monetary policy or communication, this meeting was simply a message to market participants to sit back and observe as the economic recovery continues to unfold,” said Charlie Ripley, senior investment strategist for Allianz Investment Management.

Stocks initially got a bump following the 2 p.m. Eastern release of the Fed’s statement, but shed those gains by the end of the day.

The S&P 500 dropped 3.54 points to 4,183.18. The benchmark index hit an all-time high on Monday. The Dow Jones Industrial Average lost 164.55 points, or 0.5 percent, to 33,820.38. The tech-heavy Nasdaq gave up 39.19 points, or 0.3 percent, to 14,051.03.

Smaller company stocks fared better than the bigger companies. The Russell 2000 index rose 2.89 points, or 0.1 percent, to 2,304.16.

Wall Street has been mostly grinding higher in recent weeks, pushing stock indexes to record highs, as the rollout of COVID-19 vaccinations, the massive support from the U.S. government and the Fed, and a string of encouraging economic data fuel expectations for a stronger economy and solid corporate profit growth this year.

The expectations for a strong rebound, and rising prices for oil, lumber and other commodities, have also spurred concerns over inflation and the prospects for higher interest rates. Those worries have helped fuel a rapid rise in bond yields from where they were at the start of the year.

In its remarks, the Fed noted that the economy and job market have “strengthened.” And, while it acknowledged that inflation has risen, the central bank said it sees the increase as transitory. Fed officials have said they want to see inflation exceed their 2 percent annual inflation target before they’d consider raising rates.

The yield on the 10-year Treasury, which influences interest rates on mortgages and other consumer loans, eased following the Fed’s statement, slipping to 1.61 percent from 1.62 percent late Tuesday.

The market welcomed the Fed’s decision to maintain its support for the economy and keep rates low, said Sylvia Jablonski, chief investment officer at Defiance ETFs.

“We don’t expect a rate hike until 2023,” Jablonski said. “This, I believe, is almost no news is good news for the market. Any rhetoric to act more quickly would have been an issue.”

Investors also focused Wednesday on corporate earnings, with dozens of companies reporting their quarterly results.

Google’s parent company, Alphabet, rose 3 percent after it said its profits doubled from a year earlier, helped by a surge of digital advertising revenue as more Americans shopped online during the pandemic. Visa rose 1.5 percent after reporting solid financial results.

Google’s solid gains helped send communications stocks higher. Oil prices rose and boosted energy company stocks. Those gains were offset by a downturn in technology and health care companies.

Investors punished several other companies that came up short with their most recent financial results. Boeing slipped 2.9 percent, while Spotify sank 12.3 percent after the music streaming company announced that subscriber growth had slowed more than expected.

Biotechnology company Amgen was among the biggest losers. It fell 7.2 percent after its first-quarter profits and revenue fell short of analysts’ forecasts.


----------



## bigdog

*Stocks end higher, pushing S&P 500 to another record high*

Stocks overcame a midday stumble on Wall Street to close broadly higher Thursday, driving the S&P 500 to another record high.

The benchmark index rose 0.7% after having been down 0.2% earlier. Communications companied helped power a big part of the gain, led by a sharp rise in Facebook following the company’s latest quarterly report card. Banks also helped lead the rally, outweighing a pullback in health care and technology stocks. Treasury yields were mixed.

Investors weighed the latest batch of company earnings reports and encouraging economic data. A report showing that the U.S. economy grew sharply in the first quarter is among the latest data pointing to an economic recovery from the recession brought on by the pandemic. Other upbeat reports included data showing that more Americans were signing contracts to buy homes in March after two months of declines.

“We’re experiencing a strong economic recovery that’s translating into a strong corporate earnings environment,” said Bill Northey, senior investment director at U.S. Bank Wealth Management.

The S&P 500 index rose 28.29 points to 4,211.47. The index also hit an all-time high on Monday. The Dow Jones Industrial Average added 239.98 points, or 0.7%, to 34,060.36, while the Nasdaq gained 31.52 points, or 0.2%, to 14,082.55. Both indexes had also been in the red earlier in the day.

Smaller company stocks, which have been outperforming the broader market this year, gave back some of their recent gains. The Russell 2000 index lost 8.70 points, or 0.4%, to 2,295.46.

The rollout of COVID-19 vaccinations, massive support from the U.S. government and the Fed, and increasingly positive economic data have been driving expectations for a strong rebound for the economy and robust corporate profit growth this year. That’s helped stocks push higher and kept indexes near their all-time highs.

Still, some of the big risks to the market include rising inflation getting out of hand and any aspect of the virus pandemic worsening and throwing off the economic recovery, said Keith Buchanan, senior portfolio manager at Globalt Investments.

“Without one of those two, the macroeconomic direction seems clear,” he said.

So far, company earnings for the first three months of the year are largely exceeding Wall Street’s expectations and stoking bullish profit outlooks for 2021.

Facebook jumped 7.3% after the social media giant reported stronger-than-expected results for the first quarter thanks to soaring ad revenue.

That followed an overnight dose of big technology earnings overnight from the likes of Apple, Qualcomm and others. Tech stocks drove much of the rally in 2020 and are still highly valued to investors, who are betting that the pandemic made a permanent shift in how Americans shopped and entertained themselves.

ASX 200 expected to fall​The Australian share market looks set to end the week on a disappointing note. According to the latest SPI futures, the ASX 200 is expected to open the day 15 points or 0.2% lower this morning. 

This is despite it being a positive night of trade on Wall Street, which saw the Dow Jones jump 0.071%, S&P 500 rise 0.68%, and the Nasdaq rise 0.22%. Strong results from Facebook and Apple were behind these gains.










https://apnews.com/article/joe-bide...ong-shanghai-e6578c543eafbb25cecf4015a0791bb1

*Stocks end higher, pushing S&P 500 to another record high*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks overcame a midday stumble on Wall Street to close broadly higher Thursday, driving the S&P 500 to another record high.

The benchmark index rose 0.7% after having been down 0.2% earlier. Communications companied helped power a big part of the gain, led by a sharp rise in Facebook following the company’s latest quarterly report card. Banks also helped lead the rally, outweighing a pullback in health care and technology stocks. Treasury yields were mixed.

Investors weighed the latest batch of company earnings reports and encouraging economic data. A report showing that the U.S. economy grew sharply in the first quarter is among the latest data pointing to an economic recovery from the recession brought on by the pandemic. Other upbeat reports included data showing that more Americans were signing contracts to buy homes in March after two months of declines.

“We’re experiencing a strong economic recovery that’s translating into a strong corporate earnings environment,” said Bill Northey, senior investment director at U.S. Bank Wealth Management.

The S&P 500 index rose 28.29 points to 4,211.47. The index also hit an all-time high on Monday. The Dow Jones Industrial Average added 239.98 points, or 0.7%, to 34,060.36, while the Nasdaq gained 31.52 points, or 0.2%, to 14,082.55. Both indexes had also been in the red earlier in the day.

Smaller company stocks, which have been outperforming the broader market this year, gave back some of their recent gains. The Russell 2000 index lost 8.70 points, or 0.4%, to 2,295.46.

The rollout of COVID-19 vaccinations, massive support from the U.S. government and the Fed, and increasingly positive economic data have been driving expectations for a strong rebound for the economy and robust corporate profit growth this year. That’s helped stocks push higher and kept indexes near their all-time highs.

Still, some of the big risks to the market include rising inflation getting out of hand and any aspect of the virus pandemic worsening and throwing off the economic recovery, said Keith Buchanan, senior portfolio manager at Globalt Investments.

“Without one of those two, the macroeconomic direction seems clear,” he said.

So far, company earnings for the first three months of the year are largely exceeding Wall Street’s expectations and stoking bullish profit outlooks for 2021.


----------



## bigdog

*Stocks pull below record but still end best month this year*

Stocks gave back some of their recent gains Friday, though the market still closed out April with its biggest monthly gain so far this year.

The S&P 500 fell 0.7% as investors backed away from technology, financial and communication stocks. Despite the decline, the benchmark index ended April with a 5.2% gain, its best month since November 2020, when President Joe Biden was elected.

Under Biden, the Dow Jones Industrial Average notched its best first 100 days under a new president since Franklin Delano Roosevelt took office in 1933, according to LPL Financial, with a 9.9% return as of April 29. The Dow delivered a 6.1% return during former President Donald Trump’s first 100 days in office.

The gains have come as large-scale coronavirus vaccination programs help people return to jobs and normal behaviors after more than a year of restrictions.

“It’s been a very solid month for global equities across the board,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. “Periods of pullbacks are definitely expected when you have valuations run so much.”

The S&P 500, which hit an all-time high a day earlier, fell 30.30 points to 4,181.17. The index eked out a gain of less than 0.1% for the week. The Dow fell 185.51 points, or 0.5%, to 33,874.85 and the Nasdaq lost 119.86 points, or 0.9%, to 13,962.68.

The Russell 2000 index of smaller companies fared worse than the broader market. It fell 29.01 points, or 1.3%, to 2,266.45.

The rollout of COVID-19 vaccinations, massive support from the U.S. government and the Federal Reserve, and increasingly positive economic data have been driving expectations for a strong rebound for the economy and robust corporate profit growth this year. That’s helped stocks push higher and kept indexes near their all-time highs.

The Commerce Department delivered more encouraging news Thursday when it said the U.S. economy grew at a brisk 6.4% annual rate in the last quarter and is likely to accelerate further as more vaccinations are administered and COVID-19 cases continue to fall.

“The broad story is one of case counts on the whole being lowered across the majority of the world and vaccines ramping up generally across the world and that’s getting us back to normal,” said Jason Pride, chief investment officer of private wealth at Glenmede.

The market still has some key concerns, including how government spending will impact taxes and inflation. To pay for his plans, Biden has proposed to nearly double the tax rate that Americans who make more than $1 million in a year pay on profits from stocks and other investments. The president also wants to impose a 21% minimum tax on corporations’ foreign earnings in a bid to stop companies from stashing profits in countries with low tax rates.

Investors have also gotten strong corporate earnings which have helped justify higher stock prices. Amazon initially rose after the e-commerce giant reported that its profits more than tripled in the latest quarter. It ended 0.1% lower Friday. Earnings from other Big Tech companies have also blown away expectations. Apple and Google parent company Alphabet each reported this week that their profits more than doubled in the first quarter. Facebook came close; its earnings nearly doubled.

More than half of the companies in the S&P 500 have reported their results, which show earnings growth of 54% percent so far for index, according to FactSet.

Investors will get another big dose of earnings reports to start off May, including results from drugmakers Eli Lilly, Merck as well as Pepsi, Colgate-Palmolive, the railroad CSX and drugstore giant CVS. Investors will also get April’s jobs report next week.

The S&P 500 notched a gain of about 28% between November and April. Now the market enters the six-month stretch of May through October that has historically included among the weakest months of the year for stocks, hence the Wall Street adage “sell in May and go away.” Still, stocks have posted gains during the May-October period eight of the past 10 years, according to LPL Financial.

Most markets outside the U.S. also rose in April, though the gains were more modest than those for the S&P 500 and Nasdaq. One exception was India, where the market fell 1.5% amid an explosion in coronavirus cases that has catapulted the death to more than 200,000.











https://apnews.com/article/asia-fin...th-pandemics-2859c0d2aeed2f3193e4ac625c3cc535

*Stocks pull below record but still end best month this year*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks gave back some of their recent gains Friday, though the market still closed out April with its biggest monthly gain so far this year.

The S&P 500 fell 0.7% as investors backed away from technology, financial and communication stocks. Despite the decline, the benchmark index ended April with a 5.2% gain, its best month since November 2020, when President Joe Biden was elected.

Under Biden, the Dow Jones Industrial Average notched its best first 100 days under a new president since Franklin Delano Roosevelt took office in 1933, according to LPL Financial, with a 9.9% return as of April 29. The Dow delivered a 6.1% return during former President Donald Trump’s first 100 days in office.

The gains have come as large-scale coronavirus vaccination programs help people return to jobs and normal behaviors after more than a year of restrictions.

“It’s been a very solid month for global equities across the board,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. “Periods of pullbacks are definitely expected when you have valuations run so much.”

The S&P 500, which hit an all-time high a day earlier, fell 30.30 points to 4,181.17. The index eked out a gain of less than 0.1% for the week. The Dow fell 185.51 points, or 0.5%, to 33,874.85 and the Nasdaq lost 119.86 points, or 0.9%, to 13,962.68.

The Russell 2000 index of smaller companies fared worse than the broader market. It fell 29.01 points, or 1.3%, to 2,266.45.

The rollout of COVID-19 vaccinations, massive support from the U.S. government and the Federal Reserve, and increasingly positive economic data have been driving expectations for a strong rebound for the economy and robust corporate profit growth this year. That’s helped stocks push higher and kept indexes near their all-time highs.

The Commerce Department delivered more encouraging news Thursday when it said the U.S. economy grew at a brisk 6.4% annual rate in the last quarter and is likely to accelerate further as more vaccinations are administered and COVID-19 cases continue to fall.

“The broad story is one of case counts on the whole being lowered across the majority of the world and vaccines ramping up generally across the world and that’s getting us back to normal,” said Jason Pride, chief investment officer of private wealth at Glenmede.

There’s also the trillions of dollars in government support that has gone out to help the U.S. economy recover from the pandemic. The Commerce Department said U.S. household incomes surged 21% last month, driven largely by the $1,400 payments that went out to most Americans as part of President Biden’s economic package. Consumer spending rose at the fastest pace in nine months.

The Biden administration is also pushing for more infrastructure spending to help further boost the economy. The big policy and spending proposals have investors looking further up the road to what a “new normal” looks like after the pandemic, Pride said.

The market still has some key concerns, including how government spending will impact taxes and inflation. To pay for his plans, Biden has proposed to nearly double the tax rate that Americans who make more than $1 million in a year pay on profits from stocks and other investments. The president also wants to impose a 21% minimum tax on corporations’ foreign earnings in a bid to stop companies from stashing profits in countries with low tax rates.

Treasury yields have stabilized after jumping earlier this year as concerns about inflation rose. The yield on the 10-year Treasury slipped to 1.62% from 1.64% late Thursday, and was down from 1.68% at the start of the month. Analysts still expect yields to rise again.

“The longer term trend in yields has turned higher,” said Willie Delwiche, investment strategist at All Star Charts. “We need to see German and Japanese yields move higher as well if U.S. Treasury yields are going to resume their ascent.”

Investors have also gotten strong corporate earnings which have helped justify higher stock prices. Amazon initially rose after the e-commerce giant reported that its profits more than tripled in the latest quarter. It ended 0.1% lower Friday. Earnings from other Big Tech companies have also blown away expectations. Apple and Google parent company Alphabet each reported this week that their profits more than doubled in the first quarter. Facebook came close; its earnings nearly doubled.

More than half of the companies in the S&P 500 have reported their results, which show earnings growth of 54% percent so far for index, according to FactSet.

Investors will get another big dose of earnings reports to start off May, including results from drugmakers Eli Lilly, Merck as well as Pepsi, Colgate-Palmolive, the railroad CSX and drugstore giant CVS. Investors will also get April’s jobs report next week.

The S&P 500 notched a gain of about 28% between November and April. Now the market enters the six-month stretch of May through October that has historically included among the weakest months of the year for stocks, hence the Wall Street adage “sell in May and go away.” Still, stocks have posted gains during the May-October period eight of the past 10 years, according to LPL Financial.

Most markets outside the U.S. also rose in April, though the gains were more modest than those for the S&P 500 and Nasdaq. One exception was India, where the market fell 1.5% amid an explosion in coronavirus cases that has catapulted the death to more than 200,000.


----------



## bigdog

ASX 200 futures pointing lower​
The Australian share market looks set to start the week with a decline. According to the latest SPI futures, the ASX 200 is expected to open the week 7 points or 0.1% lower this morning. 

This follows a poor finish to the week on Wall Street, which saw the Dow Jones fall 0.55%, the S&P 500 drop 0.7%, and the Nasdaq tumble 0.85%.


----------



## bigdog

*Wall Street logs gains Monday on strong earnings*

Health care and energy companies helped push stocks higher Monday, as Wall Street kicked off the first trading day in May with more gains after a four-month winning streak.

The S&P 500 rose 0.3%. Industrial and financial stocks also helped lift the market. Falling technology and communication stocks, and companies that rely on consumer spending, kept the market’s gains in check. Treasury yields were mixed.

Investors welcomed new economic data indicating the economy is strengthening. They also continued to focus on the latest batch of corporate earnings reports, which have been mostly encouraging and have helped fuel optimism about a solid economic recovery this year.

“In terms of earnings, we’re in a good place,” said Hilary Kramer, chief investment officer for Kramer Capital Research. “The good news is that we’re getting excellent guidance from these companies.”

The S&P 500 index rose 11.49 points to 4,192.66. The benchmark index’s latest gains follow a 5.2% surge in April, its best month since November 2020, when President Joe Biden was elected. It logged a gain of about 28% between November and April.

The Dow Jones Industrial Average added 238.38 points, or 0.7%, to 34,113.23. The tech-heavy Nasdaq shed an early gain and lost 67.56 points, or 0.5%, to 13,895.12.

Smaller companies, which have outgained the broader market this year, also had a good showing. The Russell 2000 index picked up 11 points, or 0.5%, to 2,277.45.

Stocks have been grinding higher on expectations of an economic recovery and strong company profits this year as large-scale coronavirus vaccination programs help people return to jobs and normal behaviors after more than a year of restrictions. Massive support from the U.S. government and the Federal Reserve, and increasingly positive economic data, have also helped put investors in a buying mood, keeping stock indexes near their all-time highs.

More than half of the companies in the S&P 500 have reported their results so far this earnings season, which show profit growth of 54% so far, according to FactSet.

This will be another busy week for earnings reports, with Merck, Pepsi, Colgate-Palmolive and CVS among the companies reporting their latest quarterly results. Investors will also get April’s jobs report on Friday.

While earnings have been solid, the market still faces several key risks, Kramer said, including a spike in COVID-19 cases in India shutting down manufacturing and commerce and hurting the global economic recovery, along with inflation concerns.

Among the biggest gainers Monday were oilfield services company Baker Hughes, which vaulted 8%, clothing retailer Gap Inc., which jumped 7.2%, and flooring manufacturer Mohawk Industries, which climbed 7.5%.

Shares of Verizon Communications added 0.2% after the company announced it would sell off the remnants of Yahoo! and AOL into a new company backed by private equity firm Apollo Global Management. Verizon bought Yahoo and AOL’s media assets about six years ago in an effort to compete with Google and Facebook, but the effort never panned out and Verizon returned its focus to its traditional wireless cell operations.

Warren Buffett’s Berkshire Hathaway rose 1.5% after the billionaire investor named his successor after years of speculation. Greg Abel, who runs Berkshire Hathaway’s non-insurance business, will step into the CEO role when Buffett retires.

ASX 200 expected to rise​
The Australian share market looks set to have a positive day on Tuesday following a solid start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 16 points or 0.25% higher this morning. 

In the United States the Dow Jones rose 0.7% and the S&P 500 climbed 0.27%. The tech-focused Nasdaq index was out of form, though, and dropped 0.48%. This could weigh on local tech shares today.










https://apnews.com/article/japan-ch...rkets-health-8a2639db7c899466a235ca1ab170ed3c

*Wall Street logs gains Monday on strong earnings*

By DAMIAN J. TROISE and ALEX VEIGA

Health care and energy companies helped push stocks higher Monday, as Wall Street kicked off the first trading day in May with more gains after a four-month winning streak.

The S&P 500 rose 0.3%. Industrial and financial stocks also helped lift the market. Falling technology and communication stocks, and companies that rely on consumer spending, kept the market’s gains in check. Treasury yields were mixed.

Investors welcomed new economic data indicating the economy is strengthening. They also continued to focus on the latest batch of corporate earnings reports, which have been mostly encouraging and have helped fuel optimism about a solid economic recovery this year.

“In terms of earnings, we’re in a good place,” said Hilary Kramer, chief investment officer for Kramer Capital Research. “The good news is that we’re getting excellent guidance from these companies.”

The S&P 500 index rose 11.49 points to 4,192.66. The benchmark index’s latest gains follow a 5.2% surge in April, its best month since November 2020, when President Joe Biden was elected. It logged a gain of about 28% between November and April.

The Dow Jones Industrial Average added 238.38 points, or 0.7%, to 34,113.23. The tech-heavy Nasdaq shed an early gain and lost 67.56 points, or 0.5%, to 13,895.12.

Smaller companies, which have outgained the broader market this year, also had a good showing. The Russell 2000 index picked up 11 points, or 0.5%, to 2,277.45.

Stocks have been grinding higher on expectations of an economic recovery and strong company profits this year as large-scale coronavirus vaccination programs help people return to jobs and normal behaviors after more than a year of restrictions. Massive support from the U.S. government and the Federal Reserve, and increasingly positive economic data, have also helped put investors in a buying mood, keeping stock indexes near their all-time highs.

More than half of the companies in the S&P 500 have reported their results so far this earnings season, which show profit growth of 54% so far, according to FactSet.

This will be another busy week for earnings reports, with Merck, Pepsi, Colgate-Palmolive and CVS among the companies reporting their latest quarterly results. Investors will also get April’s jobs report on Friday.

While earnings have been solid, the market still faces several key risks, Kramer said, including a spike in COVID-19 cases in India shutting down manufacturing and commerce and hurting the global economic recovery, along with inflation concerns.

Among the biggest gainers Monday were oilfield services company Baker Hughes, which vaulted 8%, clothing retailer Gap Inc., which jumped 7.2%, and flooring manufacturer Mohawk Industries, which climbed 7.5%.

Shares of Verizon Communications added 0.2% after the company announced it would sell off the remnants of Yahoo! and AOL into a new company backed by private equity firm Apollo Global Management. Verizon bought Yahoo and AOL’s media assets about six years ago in an effort to compete with Google and Facebook, but the effort never panned out and Verizon returned its focus to its traditional wireless cell operations.

Warren Buffett’s Berkshire Hathaway rose 1.5% after the billionaire investor named his successor after years of speculation. Greg Abel, who runs Berkshire Hathaway’s non-insurance business, will step into the CEO role when Buffett retires.

On the economic front, a report on U.S. manufacturing activity in April came in below economists’ expectations, but still was strong for the month. The Institute for Supply Management’s manufacturing index came in at 60.7 for April, compared with the 65.0 reading that was expected. However that figure is still well above the 50-point mark that indicates expanding manufacturing activity.

A report on U.S. construction spending showed similar results, making gains but still falling short of economists’ forecasts. Spending on construction projects rose just 0.2% in March, the Commerce Department said Monday, significantly less than the 1.7% jump economists had expected.

The yield on the 10-year U.S. Treasury note slipped to 1.60% from 1.65% late Friday.


----------



## bigdog

*Technology shares sink broader market although Dow has gain*

Technology companies dragged indexes lower on Wall Street Tuesday, pulling the market further from its recent all-time highs.

The S&P 500 fell 0.7%, erasing its gains from last week. Big technology companies like Apple and Microsoft fell as the sector declined for the sixth straight day. Losses in communications stocks and companies that rely on consumer spending also weighed on the market, offsetting gains by financial, industrial and materials stocks. Treasury yields fell slightly.

Investors continue to focus on corporate earnings and on gauging the economic recovery’s progress. Earnings and most economic indicators have been signaling a steady improvement, but investors remain concerned about the lingering threat from COVID-19, inflation and other factors that could crimp progress.

A key concern has been the recovery in the employment market. Investors will get another update with this week’s jobs report.

“The entire market is down, but the tech stuff is down way more,” said Ross Mayfield, investment strategist at Baird. “If you look at the broad picture, the earnings beats are strong and we’re expecting a big” jobs number on Friday, he said.

The S&P 500 fell 28 points to 4,164.66. The benchmark index hit an all-time high last Thursday. The technology-heavy Nasdaq Composite dropped 261.61 points, or 1.9%, to 13,663.50. The Russell 2000 index of small-company stocks lost 29.17 points, or 1.3%, to 2,248.29. The Dow Jones Industrial Average fared better than the other indexes. It recovered from an early stumble, adding 19.80 points, or 0.1%, to 34,133.03.

Before this week, stocks had been grinding higher on expectations of an economic recovery and strong company profits this year as large-scale coronavirus vaccination programs help people return to jobs and normal activities after more than a year of restrictions. Massive support from the U.S. government and the Federal Reserve, and increasingly positive economic data, have also helped put investors in a buying mood, keeping stock indexes near their all-time highs.

More than half of the companies in the S&P 500 have reported their results so far this earnings season, which show profit growth of 54%, according to FactSet.

On Monday, Federal Reserve Chairman Jerome Powell said the economic outlook has “clearly brightened” in the United States, but the recovery remains too uneven.

Still, a key concern is whether the economy is strengthening so quickly that it will force the Federal Reserve to raise interest rates to combat inflation, signs of which are already cropping up as higher prices for oil, lumber and other commodities.

Remarks by Treasury Secretary Janet Yellen Tuesday morning appeared to stoke those worries. At an economic seminar, Yellen said interest rates may have to rise to keep the economy from overheating. The selling on Wall Street accelerated following her remarks, which she later downplayed during an interview with the Wall Street Journal after the markets closed.

“That is why the sell-off hit tech stocks, especially,” said Quincy Krosby, chief market strategist at Prudential Financial. “Many would argue they were overbought and due for a pullback, and anything in this particular environment suggesting that rates could move higher is a negative for Big Tech.”

Technology stocks have had a strong runup over the past year. With the market near its recent record highs, the prospect of higher interest rates, which can slow the economy by making the cost of capital more expensive, makes tech stocks look particularly vulnerable.

ASX 200 expected to fall​
It looks set to be a difficult day of trade for the Australian share market on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 24 points or 0.35% lower this morning. 

This follows a poor night of trade on Wall Street which saw the Dow Jones rise slightly but the S&P 500 fall 0.67% and the Nasdaq sink 1.88%. The latter could be bad news for local tech shares, which tend to follow the Nasdaq’s lead.












https://apnews.com/article/asia-earnings-financial-markets-business-915be2379842d8be81e5103cb58b5dba

*Technology shares sink broader market although Dow has gain*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies dragged indexes lower on Wall Street Tuesday, pulling the market further from its recent all-time highs.

The S&P 500 fell 0.7%, erasing its gains from last week. Big technology companies like Apple and Microsoft fell as the sector declined for the sixth straight day. Losses in communications stocks and companies that rely on consumer spending also weighed on the market, offsetting gains by financial, industrial and materials stocks. Treasury yields fell slightly.

Investors continue to focus on corporate earnings and on gauging the economic recovery’s progress. Earnings and most economic indicators have been signaling a steady improvement, but investors remain concerned about the lingering threat from COVID-19, inflation and other factors that could crimp progress.

A key concern has been the recovery in the employment market. Investors will get another update with this week’s jobs report.

“The entire market is down, but the tech stuff is down way more,” said Ross Mayfield, investment strategist at Baird. “If you look at the broad picture, the earnings beats are strong and we’re expecting a big” jobs number on Friday, he said.

The S&P 500 fell 28 points to 4,164.66. The benchmark index hit an all-time high last Thursday. The technology-heavy Nasdaq Composite dropped 261.61 points, or 1.9%, to 13,663.50. The Russell 2000 index of small-company stocks lost 29.17 points, or 1.3%, to 2,248.29. The Dow Jones Industrial Average fared better than the other indexes. It recovered from an early stumble, adding 19.80 points, or 0.1%, to 34,133.03.

Before this week, stocks had been grinding higher on expectations of an economic recovery and strong company profits this year as large-scale coronavirus vaccination programs help people return to jobs and normal activities after more than a year of restrictions. Massive support from the U.S. government and the Federal Reserve, and increasingly positive economic data, have also helped put investors in a buying mood, keeping stock indexes near their all-time highs.

More than half of the companies in the S&P 500 have reported their results so far this earnings season, which show profit growth of 54%, according to FactSet.

On Monday, Federal Reserve Chairman Jerome Powell said the economic outlook has “clearly brightened” in the United States, but the recovery remains too uneven.

Still, a key concern is whether the economy is strengthening so quickly that it will force the Federal Reserve to raise interest rates to combat inflation, signs of which are already cropping up as higher prices for oil, lumber and other commodities.

Remarks by Treasury Secretary Janet Yellen Tuesday morning appeared to stoke those worries. At an economic seminar, Yellen said interest rates may have to rise to keep the economy from overheating. The selling on Wall Street accelerated following her remarks, which she later downplayed during an interview with the Wall Street Journal after the markets closed.

“That is why the sell-off hit tech stocks, especially,” said Quincy Krosby, chief market strategist at Prudential Financial. “Many would argue they were overbought and due for a pullback, and anything in this particular environment suggesting that rates could move higher is a negative for Big Tech.”

Technology stocks have had a strong runup over the past year. With the market near its recent record highs, the prospect of higher interest rates, which can slow the economy by making the cost of capital more expensive, makes tech stocks look particularly vulnerable.

Apple fell 3.5% and Facebook slid 1.3%. Google’s parent company dropped 1.5% and Amazon lost 2.2%. The declines exacerbated Monday’s drop in tech shares, which caused the Nasdaq to end in the red.

Bond yields fell. The yield on the 10-year U.S. Treasury note dropped to 1.59% from 1.60% the day before.

Investors will get a closely watched jobs report on Friday. Economists expect that U.S. employers hired 975,000 workers last month as the economy accelerated out of the pandemic and vaccines rolled out nationwide. The unemployment rate is expected to drop to 5.8% from 6%.

Also Tuesday, Saudi Aramco said its profits soared by 30% in the first-quarter of the year, compared to last year, on the back of higher crude oil prices and recovering demand as major economies claw their way out of recession.


----------



## bigdog

*US stock indexes mixed as tech rebound fades; Peloton sinks*

Major U.S. stock indexes closed mixed Wednesday after an early technology company rebound faded, tempering the market’s recovery from a sell-off a day earlier.

The S&P 500 eked out a 0.1% gain after having been up 0.7% in the early going. The Dow Jones Industrial Average managed a 0.3% gain, while the tech-heavy Nasdaq slid 0.4%.

Financial and energy stocks helped keep the S&P 500 out of the red. JPMorgan Chase rose 1.3% and Exxon Mobil added 3%. Losses for retailers and other companies that rely primarily on consumer spending kept those gains in check, as did a pullback in utilities.

Technology stocks, which led the market’s blockbuster rebound in 2020, fell for the seventh straight day. The sector, one of 11 in the S&P 500, is up 4.6% this year, the third-smallest gain in the index after consumer staples and utilities. Energy companies are faring the best with a 38.1% gain so far this year.

The market’s mixed results came as investors remain focused on earnings reports, which have been better than expected. More than half of the companies in the S&P 500 have reported their results so far this earnings season, which show profit growth of 54%, according to FactSet.

“It’s been a pretty torrid pace in terms of earnings right now, but not everyone is being rewarded,” said J.J. Kinahan, chief strategist with TD Ameritrade. “To have your stock at least do OK during earnings season: No. 1 beat on revenue and No. 2 talk about a bright rest of the year trend.”

The S&P 500 added 2.93 points to 4,167.59. The benchmark index hit an all-time high last Thursday. The Dow rose 97.31 points to 34,230.34, while the Nasdaq dropped 51.08 points to 13,582.42. The Russell 2000 index of small-company stocks lost 6.92 points, or 0.3%, to 2,241.37.

Stocks had been mostly pushing higher on expectations of an economic recovery and strong company profits this year as large-scale coronavirus vaccination programs help people return to jobs and normal activities after more than a year of restrictions. Massive support from the U.S. government and the Federal Reserve, and increasingly positive economic data, have also helped put investors in a buying mood, keeping stock indexes near their all-time highs.

Still, investors remain concerned about the potential for higher inflation, signs of which are already cropping up as higher prices for oil, lumber and other commodities. Remarks by Treasury Secretary Janet Yellen suggesting the Federal Reserve would have to raise interest rates to keep the economy from overheating, led to a late-afternoon sell-off Tuesday.

Yellen downplayed those remarks, and several Fed officials followed suit Wednesday, which helped boost stocks, said Steve Chiavarone, equity strategist at Federated Hermes.

“A combination of decent (economic) data, continued good earnings and a coordinated apology tour were enough to get markets to move back in an upward direction,” he said.

General Motors shares rose 4% after the company posted a solid quarterly profit compared to a year earlier, but also affirmed its full-year outlook even as the automaker — like much of its competition — contends with a chip shortage that is impacting production.

Under Armour jumped 6.9% after the athletic apparel company reported better-than-expected results. Traders also cheered video game maker Activision Blizzard’s latest quarterly report card, driving shares 1.6% higher.

Caesars Entertainment vaulted 7.8% for the biggest gain in the S&P 500 after the hotel and casino giant said more people are booking rooms as they get vaccinated and feel comfortable traveling and going out.

Facebook shares fell 1% after the company announced its independent oversight board would continue to ban former President Donald Trump from the platform. Trump’s account had been suspended indefinitely after the January 6 insurrection at the capital, where his rhetoric has been blamed for the riots. The board did say that the company must decide if the ban is permanent.

ASX 200 expected to rise​
The Australian share market looks set to push higher again on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 10 points or 0.15% higher. 

This follows a mixed night on Wall Street, which has seen the Dow Jones rise 0.29%, the S&P 500 edge 0.07% higher, and the Nasdaq fall 0.37%.










https://apnews.com/article/asia-fin...mic-business-8cc2712c5bbf3cecbf650cba22a21a3a

*US stock indexes mixed as tech rebound fades; Peloton sinks*

By ALEX VEIGA

Major U.S. stock indexes closed mixed Wednesday after an early technology company rebound faded, tempering the market’s recovery from a sell-off a day earlier.

The S&P 500 eked out a 0.1% gain after having been up 0.7% in the early going. The Dow Jones Industrial Average managed a 0.3% gain, while the tech-heavy Nasdaq slid 0.4%.

Financial and energy stocks helped keep the S&P 500 out of the red. JPMorgan Chase rose 1.3% and Exxon Mobil added 3%. Losses for retailers and other companies that rely primarily on consumer spending kept those gains in check, as did a pullback in utilities.

Technology stocks, which led the market’s blockbuster rebound in 2020, fell for the seventh straight day. The sector, one of 11 in the S&P 500, is up 4.6% this year, the third-smallest gain in the index after consumer staples and utilities. Energy companies are faring the best with a 38.1% gain so far this year.

The market’s mixed results came as investors remain focused on earnings reports, which have been better than expected. More than half of the companies in the S&P 500 have reported their results so far this earnings season, which show profit growth of 54%, according to FactSet.

“It’s been a pretty torrid pace in terms of earnings right now, but not everyone is being rewarded,” said J.J. Kinahan, chief strategist with TD Ameritrade. “To have your stock at least do OK during earnings season: No. 1 beat on revenue and No. 2 talk about a bright rest of the year trend.”

The S&P 500 added 2.93 points to 4,167.59. The benchmark index hit an all-time high last Thursday. The Dow rose 97.31 points to 34,230.34, while the Nasdaq dropped 51.08 points to 13,582.42. The Russell 2000 index of small-company stocks lost 6.92 points, or 0.3%, to 2,241.37.

Stocks had been mostly pushing higher on expectations of an economic recovery and strong company profits this year as large-scale coronavirus vaccination programs help people return to jobs and normal activities after more than a year of restrictions. Massive support from the U.S. government and the Federal Reserve, and increasingly positive economic data, have also helped put investors in a buying mood, keeping stock indexes near their all-time highs.

Still, investors remain concerned about the potential for higher inflation, signs of which are already cropping up as higher prices for oil, lumber and other commodities. Remarks by Treasury Secretary Janet Yellen suggesting the Federal Reserve would have to raise interest rates to keep the economy from overheating, led to a late-afternoon sell-off Tuesday.

Yellen downplayed those remarks, and several Fed officials followed suit Wednesday, which helped boost stocks, said Steve Chiavarone, equity strategist at Federated Hermes.

“A combination of decent (economic) data, continued good earnings and a coordinated apology tour were enough to get markets to move back in an upward direction,” he said.

General Motors shares rose 4% after the company posted a solid quarterly profit compared to a year earlier, but also affirmed its full-year outlook even as the automaker — like much of its competition — contends with a chip shortage that is impacting production.

Under Armour jumped 6.9% after the athletic apparel company reported better-than-expected results. Traders also cheered video game maker Activision Blizzard’s latest quarterly report card, driving shares 1.6% higher.

Caesars Entertainment vaulted 7.8% for the biggest gain in the S&P 500 after the hotel and casino giant said more people are booking rooms as they get vaccinated and feel comfortable traveling and going out.

Facebook shares fell 1% after the company announced its independent oversight board would continue to ban former President Donald Trump from the platform. Trump’s account had been suspended indefinitely after the January 6 insurrection at the capital, where his rhetoric has been blamed for the riots. The board did say that the company must decide if the ban is permanent.

Shares of exercise equipment company Peloton Interactive skidded 14.6% after the company voluntarily recalled its treadmills after dozens of reports of injuries to children and pets, and at least one death. The $4,200 treadmill was the company’s biggest expansion beyond its traditional exercise bike program.

Later this week, investors’ attention will turn to the jobs report for April. Economists expect the data to show employers hired 975,000 workers last month as the economy accelerated out of the pandemic and vaccines rolled out nationwide. The unemployment rate is expected to drop to 5.8% from 6%.

A private sector jobs report released by payroll processing company ADP found that private employers created 742,000 jobs last month, which was less than the 896,000 jobs that were expected by economics.

Bond yields were stable on Wednesday, with the 10-year Treasury note trading at a yield of 1.57%, down from 1.59% late Tuesday.


----------



## bigdog

*US Stocks Close Higher as Banks, Technology Lead Broad Rally*

Stocks are closing higher Thursday, as gains by banks and technology companies led a broad rally.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

A choppy day of trading on Wall Street ended Thursday with stocks broadly higher and another all-time high for the Dow Jones Industrial Average.

Banks and technology companies led a late-afternoon turnaround that pushed the S&P 500 to a 0.8% gain, reversing the benchmark index's losses for the week. Gains in most Dow companies, including Goldman Sachs, IBM and Cisco Systems, nudged the blue chip index to a new high for the second straight day.

Apple, Microsoft and Intel were among the winners, contributing to the rally in tech stocks. That helped the S&P 500's technology sector break a seven-day losing streak, which reversed an early slide in the Nasdaq.

The stock indexes wavered earlier in the day, weighed down by a sell-off in health care stocks. Drugmakers Moderna and Pfizer closed lower following news late Wednesday that the White House supports waiving intellectual property rights for COVID0-19 vaccines in order to speed up immunizations in poorer countries.

Investors continued to weigh the latest corporate earnings reports while looking ahead to a key jobs report due out Friday.

“We’re getting to the end of earnings season and numbers are coming in typically ahead of expectations,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management. “The outlook for the year looks like it's OK. That's the basis for an upward-trending market.”

The S&P 500 bounced back from an early slide, adding 34.03 points to 4,201.62. The index is on track for its eighth weekly gain in the past 10 weeks. The Dow rose 318.19 points, or 0.9%, to 34,548.19. The Nasdaq Composite climbed 50.42 points, or 0.4%, to 13,632.84. The tech-heavy index had been down 1.1% in the early going.

The Russell 2000 index of smaller companies also recovered from a stumble to an essentially flat finish, adding 0.05 points, or less than 0.1%, to 2,241.42.

Bond yields were mixed, with the 10-year Treasury note trading at a yield of 1.57%, down from 1.58% late Wednesday.

Some healthcare stocks fell after news late Wednesday that the White House supports waiving intellectual property rights for coronavirus vaccines to help immunize poorer countries faster. That slide was countered by gains in household goods makers, banks and communication companies.

Moderna lost 1.4% after the company reported its first-ever quarterly profit, helped by the company’s coronavirus vaccine. The drop was largely tied to the news from the White House, as shares of other drug companies fell, including Pfizer, which dropped 1%.

Shares of Johnson & Johnson were not hurt by the news, partly because J&J has other businesses like Band-Aids, the pain reliever Tylenol and its baby products franchise. The stock inched up 0.4%

Stocks have mostly pushed higher on expectations of an economic recovery and strong profits this year. Massive support from the U.S. government and the Federal Reserve, and increasingly positive economic data, have also encouraged investors to push stock prices to all-time highs, despite an undercurrent of worry about inflation and the potential for higher interest rates later this year.

ASX 200 expected to rise​The Australian share market looks set to end the week on a better note. According to the latest SPI futures, the ASX 200 is expected to open the day 23 points or 0.3% higher this morning. 

This follows a solid night on Wall Street, which saw the Dow Jones jump 0.93%, the S&P 500 climb 0.82%, and the Nasdaq rise 0.37%.











https://www.usnews.com/news/busines...-mostly-higher-on-hopes-for-pandemic-recovery

*US Stocks Close Higher as Banks, Technology Lead Broad Rally*

Stocks are closing higher Thursday, as gains by banks and technology companies led a broad rally.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

A choppy day of trading on Wall Street ended Thursday with stocks broadly higher and another all-time high for the Dow Jones Industrial Average.

Banks and technology companies led a late-afternoon turnaround that pushed the S&P 500 to a 0.8% gain, reversing the benchmark index's losses for the week. Gains in most Dow companies, including Goldman Sachs, IBM and Cisco Systems, nudged the blue chip index to a new high for the second straight day.

Apple, Microsoft and Intel were among the winners, contributing to the rally in tech stocks. That helped the S&P 500's technology sector break a seven-day losing streak, which reversed an early slide in the Nasdaq.

The stock indexes wavered earlier in the day, weighed down by a sell-off in health care stocks. Drugmakers Moderna and Pfizer closed lower following news late Wednesday that the White House supports waiving intellectual property rights for COVID0-19 vaccines in order to speed up immunizations in poorer countries.

Investors continued to weigh the latest corporate earnings reports while looking ahead to a key jobs report due out Friday.

“We’re getting to the end of earnings season and numbers are coming in typically ahead of expectations,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management. “The outlook for the year looks like it's OK. That's the basis for an upward-trending market.”

The S&P 500 bounced back from an early slide, adding 34.03 points to 4,201.62. The index is on track for its eighth weekly gain in the past 10 weeks. The Dow rose 318.19 points, or 0.9%, to 34,548.19. The Nasdaq Composite climbed 50.42 points, or 0.4%, to 13,632.84. The tech-heavy index had been down 1.1% in the early going.

The Russell 2000 index of smaller companies also recovered from a stumble to an essentially flat finish, adding 0.05 points, or less than 0.1%, to 2,241.42.

Bond yields were mixed, with the 10-year Treasury note trading at a yield of 1.57%, down from 1.58% late Wednesday.

Some healthcare stocks fell after news late Wednesday that the White House supports waiving intellectual property rights for coronavirus vaccines to help immunize poorer countries faster. That slide was countered by gains in household goods makers, banks and communication companies.

Moderna lost 1.4% after the company reported its first-ever quarterly profit, helped by the company’s coronavirus vaccine. The drop was largely tied to the news from the White House, as shares of other drug companies fell, including Pfizer, which dropped 1%.

Shares of Johnson & Johnson were not hurt by the news, partly because J&J has other businesses like Band-Aids, the pain reliever Tylenol and its baby products franchise. The stock inched up 0.4%

Stocks have mostly pushed higher on expectations of an economic recovery and strong profits this year. Massive support from the U.S. government and the Federal Reserve, and increasingly positive economic data, have also encouraged investors to push stock prices to all-time highs, despite an undercurrent of worry about inflation and the potential for higher interest rates later this year.

This week, the focus is on the health of the labor market, with the government due to report April hiring data Friday. Job growth has been one of the keys to a sustained economic rebound, but it has lagged other areas of the economy such as retail sales and consumer confidence.

“Continued job gains through the year are going to be important to continue to move things ahead,” said James Ragan, director of wealth management research at D.A. Davidson.

Economists expect the April jobs data to show employers hired 975,000 workers last month as the economy accelerated out of the pandemic and vaccines rolled out nationwide. The unemployment rate is expected to drop to 5.8% from 6%.

There have already been signs that the labor market is improving. The Labor Department said Thursday that the number of Americans who filed for unemployment benefits last week fell to a pandemic low of 498,000. The payroll processing company ADP said Wednesday that private employers hired 742,000 workers last month.

On Thursday, traders sized up the latest batch of corporate earnings. Investors bid up shares in Wayfair, Kellogg and Papa John's International after they reported results that topped Wall Street's forecasts.

More earnings are on deck Friday from Cigna, Equifax and insurance giant AIG. Of the S&P 500 companies reporting so far, 84% topped analysts’ expectations, according to FactSet.


----------



## bigdog

*Stocks Rally to Records After Grim Jobs Data Undercuts Rates*

Stocks are closing at record highs on Wall Street Friday as a stunningly disappointing report on the nation’s job market signaled to investors that interest rates will stay low.

Stocks rallied to more records on Wall Street Friday as a stunningly disappointing report on the nation's job market signaled to investors that interest rates will likely stay low.

The S&P 500 rose 0.7%, topping the previous all-time high set last month. The Dow Jones Industrial Average set a record high for the third straight day.

Technology companies accounted for a big share of the broad rally, which included solid gains by stocks in the energy, industrial, and consumer discretionary sectors. The gains helped the S&P 500 notch its eighth weekly gain in the last 10 weeks.

Voices up and down Wall Street acknowledged that Friday morning's jobs report was a massive disappointment. It's usually the market's most anticipated economic data of each month, and it showed employers added just 266,000 jobs in April. That was far fewer than the 975,000 jobs that economists expected and a steep slowdown from March’s hiring pace of 770,000.

“It was a bit of a shock when that headline number hit, but you realize most of, if not all of it, is the result not necessarily of demand, but supply," said Peter Essele, head of portfolio management for Commonwealth Financial Network. ”There seems to be a bit of a labor shortage at the moment."

The weak report jolted the bond market and initially sent yields tumbling. The yield on the 10-year Treasury briefly dropped below 1.49%, toward its lowest level in two months before recovering. By the market's close it was unchanged from 1.56% late Thursday.

Many analysts said they don’t want to put too much emphasis on just one month of discouraging data. They still expect the economy to strengthen mightily as coronavirus vaccinations roll out. The weak jobs number also bolsters the case for the Federal Reserve to keep interest rates low in hopes of boosting the jobs market.

The S&P 500 index rose 30.98 points to 4,232.60, its third straight gain. The Dow Jones Industrial Average gained 229.23 points, or 0.7%, to 34,777.76. The Nasdaq composite picked up 119.39 points, or 0.9%, to 13,752.24.

Small company stocks also got a solid bump. The Russell 2000 index outgained the major stock indexes, climbing 30.21 points, or 1.4%, to 2,271.63.

Stocks that have benefited most from low rates, including high-growth tech companies, helped lead the market on Friday. Microsoft rose 1.1%, and Nvidia gained 2% as the tech sector alone accounted for more than 25% of the S&P 500's gain.

Strong earnings reports also helped to boost the market, as companies continue to turn in blockbuster growth for the first three months of the year.










https://www.usnews.com/news/busines...res-mostly-rise-on-us-rally-eyes-on-jobs-data

Stocks Rally to Records After Grim Jobs Data Undercuts Rates​Stocks are closing at record highs on Wall Street Friday as a stunningly disappointing report on the nation’s job market signaled to investors that interest rates will stay low.

By Associated Press May 7, 2021, at 4:51 p.m.

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks rallied to more records on Wall Street Friday as a stunningly disappointing report on the nation's job market signaled to investors that interest rates will likely stay low.

The S&P 500 rose 0.7%, topping the previous all-time high set last month. The Dow Jones Industrial Average set a record high for the third straight day.

Technology companies accounted for a big share of the broad rally, which included solid gains by stocks in the energy, industrial, and consumer discretionary sectors. The gains helped the S&P 500 notch its eighth weekly gain in the last 10 weeks.

Voices up and down Wall Street acknowledged that Friday morning's jobs report was a massive disappointment. It's usually the market's most anticipated economic data of each month, and it showed employers added just 266,000 jobs in April. That was far fewer than the 975,000 jobs that economists expected and a steep slowdown from March’s hiring pace of 770,000.

“It was a bit of a shock when that headline number hit, but you realize most of, if not all of it, is the result not necessarily of demand, but supply," said Peter Essele, head of portfolio management for Commonwealth Financial Network. ”There seems to be a bit of a labor shortage at the moment."

The weak report jolted the bond market and initially sent yields tumbling. The yield on the 10-year Treasury briefly dropped below 1.49%, toward its lowest level in two months before recovering. By the market's close it was unchanged from 1.56% late Thursday.

Many analysts said they don’t want to put too much emphasis on just one month of discouraging data. They still expect the economy to strengthen mightily as coronavirus vaccinations roll out. The weak jobs number also bolsters the case for the Federal Reserve to keep interest rates low in hopes of boosting the jobs market.

The S&P 500 index rose 30.98 points to 4,232.60, its third straight gain. The Dow Jones Industrial Average gained 229.23 points, or 0.7%, to 34,777.76. The Nasdaq composite picked up 119.39 points, or 0.9%, to 13,752.24.

Small company stocks also got a solid bump. The Russell 2000 index outgained the major stock indexes, climbing 30.21 points, or 1.4%, to 2,271.63.

Low rates have been a huge reason for the stock market's recovery from its pandemic low in March 2020. One of the market's biggest fears in recent months has been that a supercharged economy could lead to higher, persistent inflation and force the Federal Reserve to raise rates. The central bank has been holding short-term rates at a record low and buying $120 billion in bonds every month.

After Friday morning's jobs report, investors pared back bets that the Federal Reserve will raise rates soon. Now they see just a 7% chance of an increase in the federal funds rate by the end of the year, down from the 15% probability they were seeing a month ago, according to CME Group.

The April jobs data also decreases the likelihood that the consumer price index will have much impact on the Fed's interest rate policy, even if the report shows a strong pickup in inflation, as economists expect, said Jay Hatfield, CEO of InfraCap Funds.

“We were pretty nervous about this report and the inflation report next week,” he said. “The Fed is probably on hold through the end of the summer, and that's extremely bullish.”

Stocks that have benefited most from low rates, including high-growth tech companies, helped lead the market on Friday. Microsoft rose 1.1%, and Nvidia gained 2% as the tech sector alone accounted for more than 25% of the S&P 500's gain.

Strong earnings reports also helped to boost the market, as companies continue to turn in blockbuster growth for the first three months of the year.

Expedia rose 5.2% after reporting a loss for the first quarter that wasn't as bad as Wall Street expected, and it had better revenue than forecast.

While the sharp slowdown in hiring could calm inflation fears, one measure in the jobs report also showed that wages rose more than economists expected last month.

In European stock markets, France's CAC 40 rose 0.5%, while Germany's DAX returned 1.3%. The FTSE 100 in London gained 0.8%.

In Asia, stocks in Shanghai fell 0.7% and Hong Kong's Hang Seng slipped 0.1%.

China reported its trade with the United States and the rest of the world surged by double digits in April as consumer demand recovered, but growth appeared to be slowing.

Japan's benchmark Nikkei 225 recouped early losses to edge up nearly 0.1%, while South Korea's Kospi gained 0.6%.


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## bigdog

ASX 200 futures pointing lower​
The Australian share market looks set to start the week with a small decline despite a solid finish on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the week 4 points lower this morning. 

On Wall Street on Friday, the Dow Jones rose 0.65%, the S&P 500 climbed 0.75%, and the Nasdaq stormed 0.9%.


----------



## bigdog

Tech Sell-Off Drags Stocks Lower, Pulling Market Below Highs​Drops in several Big Tech companies led the stock market lower Monday, pulling major indexes below the record highs they set last week.

A sell-off in technology companies dragged stocks lower on Wall Street Monday, pulling the major indexes back from their recent all-time highs.

The S&P 500 fell 1% after wobbling between small gains and losses the first half of the day. The decline broke a three-day winning streak for the benchmark index, which set a record high on Friday.

Big Tech companies, including Apple, Facebook, Amazon and Google's parent company, accounted for most of the index's decline. Communication stocks and companies that rely on consumer spending also helped pull the market lower, outweighing gains in household goods makers, utilities and other sectors.

The wave of selling handed the Nasdaq its worst day in more than seven weeks, as the index is heavily weighted with big technology stocks. The tech sector, which led the market's stunning comeback in 2020, now lags the other 10 sectors in the S&P 500 so far this year with a gain of 3.9%.

“You’ve had a tremendous run and there’s a lot of tech-focused stuff that’s up 70% to 100% in the last 12 months," said Andrew Mies, chief investment officer at investment advisory firm 6 Meridien. “The fact that some people are taking chips off the table is not surprising.”

The S&P 500 index, which notched a weekly gain in eight of the last 10 weeks, fell 44.17 points to 4,188.43. The Dow Jones Industrial Average dropped 34.94 points, or 0.1%, to 34,742.82. The blue chip index, which hit an all-time high on Friday for the third straight day, had traded higher for much of Monday, but dipped into the red in the last half-hour of trading.

The Nasdaq lost 350.38 points, or 2.5%, to 13,401.86. The index is up just under 4% so far this year, lagging well behind the S&P 500's 11.5% gain.

Small company stocks also had a rough day. The Russell 2000 index fell 58.93 points, or 2.6%, to 2,212.70.

Wall Street has been mostly rising in recent weeks amid expectations of an economic recovery and strong profits this year. Massive support from the U.S. government and the Federal Reserve, and increasingly positive economic data, have also encouraged investors to push stock prices to all-time highs, despite an undercurrent of worry about inflation and the potential for higher interest rates later this year.

The government's latest U.S. jobs report Friday showed employers added just 266,000 jobs in April, far fewer than the 975,000 economists were expecting. It was a steep drop from March’s hiring pace of 770,000. The weak jobs number suggests the economy is still in recovery mode and bolsters the case for the Federal Reserve to keep interest rates low.

But keeping interest rates low means the potential for more inflation down the road. Commodity prices spiked in early trading before settling down. Copper rose 5% in the early going before reversing to a loss of 0.7%. Platinum, which has several industrial uses, rose 0.1%. Investors will get some key inflation data this week, especially on Wednesday when April's consumer price index is released.

*ASX 200 expected to sink*

It looks set to be a difficult day for the Australian share market on Tuesday following a poor start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 59 points or 0.8% lower this morning. On Wall Street, the Dow Jones dropped 0.1%, the S&P 500 fell 1%, and the Nasdaq tumbled 2.55%.










Tech Sell-Off Drags Stocks Lower, Pulling Market Below Highs​Drops in several Big Tech companies led the stock market lower Monday, pulling major indexes below the record highs they set last week.

By Associated Press

May 10, 2021, at 4:47 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

A sell-off in technology companies dragged stocks lower on Wall Street Monday, pulling the major indexes back from their recent all-time highs.

The S&P 500 fell 1% after wobbling between small gains and losses the first half of the day. The decline broke a three-day winning streak for the benchmark index, which set a record high on Friday.

Big Tech companies, including Apple, Facebook, Amazon and Google's parent company, accounted for most of the index's decline. Communication stocks and companies that rely on consumer spending also helped pull the market lower, outweighing gains in household goods makers, utilities and other sectors.

The wave of selling handed the Nasdaq its worst day in more than seven weeks, as the index is heavily weighted with big technology stocks. The tech sector, which led the market's stunning comeback in 2020, now lags the other 10 sectors in the S&P 500 so far this year with a gain of 3.9%.

“You’ve had a tremendous run and there’s a lot of tech-focused stuff that’s up 70% to 100% in the last 12 months," said Andrew Mies, chief investment officer at investment advisory firm 6 Meridien. “The fact that some people are taking chips off the table is not surprising.”

The S&P 500 index, which notched a weekly gain in eight of the last 10 weeks, fell 44.17 points to 4,188.43. The Dow Jones Industrial Average dropped 34.94 points, or 0.1%, to 34,742.82. The blue chip index, which hit an all-time high on Friday for the third straight day, had traded higher for much of Monday, but dipped into the red in the last half-hour of trading.

The Nasdaq lost 350.38 points, or 2.5%, to 13,401.86. The index is up just under 4% so far this year, lagging well behind the S&P 500's 11.5% gain.

Small company stocks also had a rough day. The Russell 2000 index fell 58.93 points, or 2.6%, to 2,212.70.

Wall Street has been mostly rising in recent weeks amid expectations of an economic recovery and strong profits this year. Massive support from the U.S. government and the Federal Reserve, and increasingly positive economic data, have also encouraged investors to push stock prices to all-time highs, despite an undercurrent of worry about inflation and the potential for higher interest rates later this year.

The government's latest U.S. jobs report Friday showed employers added just 266,000 jobs in April, far fewer than the 975,000 economists were expecting. It was a steep drop from March’s hiring pace of 770,000. The weak jobs number suggests the economy is still in recovery mode and bolsters the case for the Federal Reserve to keep interest rates low.

But keeping interest rates low means the potential for more inflation down the road. Commodity prices spiked in early trading before settling down. Copper rose 5% in the early going before reversing to a loss of 0.7%. Platinum, which has several industrial uses, rose 0.1%. Investors will get some key inflation data this week, especially on Wednesday when April's consumer price index is released.

Inflation has been a concern for investors since bond yields spiked earlier this year, but yields have mostly stabilized since then. The yield on the 10-year Treasury rose to 1.61% from 1.57% late Friday.

Rising commodity prices are also starting to make a variety of everyday products more expensive. Analysts expect any increases in these measures going forward to be more mild and tied to the growing economy.

“This is more an effect of short-term confidence, not a long-term issue that we’re worried about,” said Andrea Bevis, senior vice president at UBS Private Wealth Management. “What matters most is what most prices are doing and we don't foresee a big move further.”

Though the employment market has been lagging the recovery, other measures show that the economy is pushing forward. Consumer confidence and retail sales have both been regaining ground as people get vaccinated and businesses reopen. Americans set a record for pandemic-era air travel on Sunday, according to The Transportation Security Administration.

Meanwhile, the most recent round of corporate earnings reports showed a broad recovery touching many different sectors and industries during the the first three months of the year. Much of that was anticipated ahead of the reports and investors are now far off from the next big round of results.

“I'm not surprised to see the market take a little bit of a pause,” Bevis said.


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## bigdog

*Stocks pull back on Wall Street as inflation concerns grow*

Banks and energy companies led a broad pullback for stocks Tuesday, knocking the Dow Jones Industrial Average more than 470 points lower and wiping out the market’s gains from last week.

The S&P 500 lost 0.9%. That, plus its losses Monday, outweigh the benchmark index’s gains last week. The Dow sank 1.4%, its worst day since Feb. 26. Treasury yields mostly edged higher.

The market’s downturn so far this week reflects growing worries among investors that inflation is rising. Any significant acceleration of inflation would be a drag on the overall market and could crimp the broader economic recovery. The selling comes ahead of a key measure of inflation at the consumer level due to be released by the government Wednesday.

Commodity prices have been rising, particularly for industrial metals such as copper and platinum, as well as for energy commodities like gasoline and crude oil. Tech stocks, which get most of their valuation from the future profits those companies are expected to earn, become less valuable if inflation decreases the value of those earnings.

Big technology companies were among the biggest decliners for a second straight day. Still, financial and energy companies, the best-performing sectors of the S&P 500 so far this year, fell the most. These sectors, in addition to industrials, have been favorites of investors betting that the economy will continue to recover from the pandemic. It’s not uncommon for the stocks that have notched the biggest gains over time to fall sharply when investors turn cautious.

“Yesterday, people were just watching to see what’s causing the market to move downward,” said Sam Stovall, chief investment strategist at CFRA. “Today the question is, ‘gee, maybe this could be more than I was expecting it to be,’ so investors are saying ‘let me take profits while I can.’”

The S&P 500 index lost 36.33 points to 4,152.19. The Dow fell 473.66 points to 34,269.16. The blue chip index hit an all-time high on Friday for the third straight day. The Nasdaq lost 12.43 points, or 0.1%, to 13,389.43.

Small company stocks also gave up some ground. The Russell 2000 index fell 5.71 points, or 0.3%, to 2,206.99.

Inflation has been a concern for investors since bond yields spiked earlier this year, though yields have mostly stabilized since then. The yield on the 10-year Treasury was steady at 1.61%. Despite reassurances from the Federal Reserve and a much weaker-than-expected U.S. jobs reading last week, investors have refocused on the potential for surging prices to pressure central banks into tapering off on their massive stimulus and ultra-low interest rates, analysts said.

The market is going through a period of “digestion” as the economy recovers and is due for some consolidation following a strong run, said Sunitha Thomas, national portfolio advisor at Northern Trust Wealth Management. Rising inflation isn’t unusual given the strong economic recovery along with a surge in company earnings, she said.

ASX 200 expected to fall​It looks set to be another difficult day of trade for the Australian share market on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 39 points or 0.55% lower this morning. 

This follows a poor night of trade on Wall Street which saw the Dow Jones fall 1.36%, the S&P 500 fall 0.87% and the Nasdaq drop 0.09%. The latter was down as much as 3.5% at one stage before rebounding.










https://apnews.com/article/asia-fin...mic-business-8f6f6efbf50db743b212031d2b700e90

*Stocks pull back on Wall Street as inflation concerns grow*

By DAMIAN J. TROISE and ALEX VEIGA

Banks and energy companies led a broad pullback for stocks Tuesday, knocking the Dow Jones Industrial Average more than 470 points lower and wiping out the market’s gains from last week.

The S&P 500 lost 0.9%. That, plus its losses Monday, outweigh the benchmark index’s gains last week. The Dow sank 1.4%, its worst day since Feb. 26. Treasury yields mostly edged higher.

The market’s downturn so far this week reflects growing worries among investors that inflation is rising. Any significant acceleration of inflation would be a drag on the overall market and could crimp the broader economic recovery. The selling comes ahead of a key measure of inflation at the consumer level due to be released by the government Wednesday.

Commodity prices have been rising, particularly for industrial metals such as copper and platinum, as well as for energy commodities like gasoline and crude oil. Tech stocks, which get most of their valuation from the future profits those companies are expected to earn, become less valuable if inflation decreases the value of those earnings.

Big technology companies were among the biggest decliners for a second straight day. Still, financial and energy companies, the best-performing sectors of the S&P 500 so far this year, fell the most. These sectors, in addition to industrials, have been favorites of investors betting that the economy will continue to recover from the pandemic. It’s not uncommon for the stocks that have notched the biggest gains over time to fall sharply when investors turn cautious.

“Yesterday, people were just watching to see what’s causing the market to move downward,” said Sam Stovall, chief investment strategist at CFRA. “Today the question is, ‘gee, maybe this could be more than I was expecting it to be,’ so investors are saying ‘let me take profits while I can.’”

The S&P 500 index lost 36.33 points to 4,152.19. The Dow fell 473.66 points to 34,269.16. The blue chip index hit an all-time high on Friday for the third straight day. The Nasdaq lost 12.43 points, or 0.1%, to 13,389.43.

Small company stocks also gave up some ground. The Russell 2000 index fell 5.71 points, or 0.3%, to 2,206.99.

Inflation has been a concern for investors since bond yields spiked earlier this year, though yields have mostly stabilized since then. The yield on the 10-year Treasury was steady at 1.61%. Despite reassurances from the Federal Reserve and a much weaker-than-expected U.S. jobs reading last week, investors have refocused on the potential for surging prices to pressure central banks into tapering off on their massive stimulus and ultra-low interest rates, analysts said.

The market is going through a period of “digestion” as the economy recovers and is due for some consolidation following a strong run, said Sunitha Thomas, national portfolio advisor at Northern Trust Wealth Management. Rising inflation isn’t unusual given the strong economic recovery along with a surge in company earnings, she said.

Rising inflation in commodities has begun to push prices for some consumer products higher. Still, analysts expect increases to be mild and tied to the growing economy, even as the jobs market lags behind. Consumer confidence and retail sales are regaining ground as people get vaccinated and businesses reopen.

Signals of inflation have popped up in other markets. China reported its strongest increase in producer prices since October 2017 last month, as supply constraints cascaded into manufacturing.

Meanwhile, the most recent round of corporate earnings reports showed a broad recovery touching many different sectors and industries during the the first three months of the year. Much of that was anticipated ahead of the reports and investors are now far off from the next big round of results.


----------



## bigdog

*Stocks sink again on Wall Street as inflation worries mount*

Inflation worries rattled Wall Street Wednesday, pulling the Dow Jones Industrial Average more than 680 points lower and placing the major stock indexes on track for their worst week in more than six months.

The selling came as investors reacted to a surprisingly big jump in inflation last month that stoked concerns that the economy may bounce back too fast from its pandemic-induced doldrums.

Tech giants, which had soared during the past year of lockdowns, took some of the biggest losses. Only energy stocks eked out a small gain.

Bond yields snapped higher after the government reported that consumer prices rose 0.8% in April, more than expected, and prices rose year-over-year at the fastest rate since 2008.

The yield on the 10-year Treasury note rose to 1.69% from 1.62% a day earlier, a big move. Bond yields rise when investors fear that an increase in inflation will erode the future value of the income that bonds pay.

“Inflation and interest rate jitters are hitting the market today, but for now the sell-off has been orderly,” said Cliff Hodge, chief investment officer for Cornerstone Wealth. “Letting some air out of these sky-high valuations is a positive going forward.”

The S&P 500 lost 89.06 points, or 2.1%, to 4,063.04, its biggest one-day drop since late February.

The Dow fell 681.50 points, or 2%, to 33,587.66, the worst decline for the blue chip index since late January. The Nasdaq gave up 357.75 points, or 2.7%, to 13,031.68. It was the tech-heavy index’s largest pullback since mid-March.

Small company stocks also gave up the most ground. The Russell 2000 index fell 71.85 points, or 3.3%, to 2,135.14.

Inflation concerns have been hitting the stock market hard this week. The S&P 500, Nasdaq and Dow are on track for their biggest weekly loss since Oct. 30. The Dow and S&P 500 had set all-time highs just last Friday.

Investors have been worrying that inflation could return after being absent for many years as the economy revs out of the recession brought on by the pandemic. Federal Reserve officials and other economists have said moderate inflation may actually be a good thing in a recovery.

While the latest reading on inflation was hotter than expected, the market shouldn’t be too surprised about inflation rising, said Jeff Buchbinder, equity strategist at LPL Financial. The prevailing sentiment is that rising inflation will be temporary, though “it’s too early to say whether these higher levels are going to be sustained,” he said.

The surge inflation is a reflection of the pent-up demand in the economy, said Terry DuFrene, global investment specialist at J.P. Morgan Private Bank.

“This is not a repeat of the 1980s, when we had hyperinflation,” he said. “This is not something that’s going to be permanent.”

ASX 200 expected to fall​The Australian share market looks set to tumble lower again on Thursday following a selloff on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 33 points or 0.5% lower. 

In the United States, the Dow Jones fell 1.99%, the S&P 500 dropped 2.14%, and the Nasdaq sank 2.67%. A strong inflation reading spooked investors.










https://apnews.com/article/asia-inf...ets-business-6ed9af7cd51b64e59a720409612e38b5

*Stocks sink again on Wall Street as inflation worries mount*

By DAMIAN J. TROISE and ALEX VEIGA

Inflation worries rattled Wall Street Wednesday, pulling the Dow Jones Industrial Average more than 680 points lower and placing the major stock indexes on track for their worst week in more than six months.

The selling came as investors reacted to a surprisingly big jump in inflation last month that stoked concerns that the economy may bounce back too fast from its pandemic-induced doldrums.

Tech giants, which had soared during the past year of lockdowns, took some of the biggest losses. Only energy stocks eked out a small gain.

Bond yields snapped higher after the government reported that consumer prices rose 0.8% in April, more than expected, and prices rose year-over-year at the fastest rate since 2008.

The yield on the 10-year Treasury note rose to 1.69% from 1.62% a day earlier, a big move. Bond yields rise when investors fear that an increase in inflation will erode the future value of the income that bonds pay.

“Inflation and interest rate jitters are hitting the market today, but for now the sell-off has been orderly,” said Cliff Hodge, chief investment officer for Cornerstone Wealth. “Letting some air out of these sky-high valuations is a positive going forward.”

The S&P 500 lost 89.06 points, or 2.1%, to 4,063.04, its biggest one-day drop since late February.

The Dow fell 681.50 points, or 2%, to 33,587.66, the worst decline for the blue chip index since late January. The Nasdaq gave up 357.75 points, or 2.7%, to 13,031.68. It was the tech-heavy index’s largest pullback since mid-March.

Small company stocks also gave up the most ground. The Russell 2000 index fell 71.85 points, or 3.3%, to 2,135.14.

Inflation concerns have been hitting the stock market hard this week. The S&P 500, Nasdaq and Dow are on track for their biggest weekly loss since Oct. 30. The Dow and S&P 500 had set all-time highs just last Friday.

Investors have been worrying that inflation could return after being absent for many years as the economy revs out of the recession brought on by the pandemic. Federal Reserve officials and other economists have said moderate inflation may actually be a good thing in a recovery.

While the latest reading on inflation was hotter than expected, the market shouldn’t be too surprised about inflation rising, said Jeff Buchbinder, equity strategist at LPL Financial. The prevailing sentiment is that rising inflation will be temporary, though “it’s too early to say whether these higher levels are going to be sustained,” he said.

The surge inflation is a reflection of the pent-up demand in the economy, said Terry DuFrene, global investment specialist at J.P. Morgan Private Bank.

“This is not a repeat of the 1980s, when we had hyperinflation,” he said. “This is not something that’s going to be permanent.”

Concerns about rising inflation also raise the question of whether the Federal Reserve will change its posture on maintaining low interest rates as the economy recovers. Buchbinder said investors shouldn’t expect that to happen any time soon, however, given that the economy, and particularly the job market, are still a long way from being fully recovered.

“Really the Fed has one mandate right now, which is to regain full employment, and it’s going to take some time,” Buchbinder said.

Analysts expect consumer prices to rise as the economy recovers, but higher prices could run the risk of curtailing some spending, which the economy needs to sustain its recovery. The cost of new cars rose 0.5% in April, the largest increase since last July, because of heavy demand and a computer chip shortage that has slowed production and reduced dealer supplies.

Rising inflation makes stocks seem more expensive, particularly high-value tech stocks that trade on the potential for their future profits in coming years. Apple, Microsoft and Amazon all fell more than 2%.

Tesla fell 4.4%, bringing its pullback so far this month to nearly 17%. That has the electric car maker’s stock on pace for its worst month since the pandemic plunge of March 2020, when it lost 21.6%.

Energy prices continued to climb following the shutdown of a major gas pipeline on the East Coast earlier in the week, and there are now reports of gasoline hoarding happening in places like North Carolina.


----------



## bigdog

*Stocks climb after three days of losses, led by Big Tech*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street put the brakes on a three-day losing streak with a broad stock market rally Thursday powered by Big Tech companies and banks.

The S&P 500 notched a 1.2% gain, clawing back almost half of its loss from a day earlier, when it had its biggest one-day drop since February. Even so, the benchmark index is on track for a 2.8% weekly decline, which would be its largest since January. The other major indexes were also on pace for sharp weekly declines, despite recouping some of their losses.

Technology stocks led the gainers after sinking earlier in the week as investors fretted about signs of rising inflation. Apple, Microsoft, Facebook and Google’s parent company all rose. Financial companies also did well. JPMorgan Chase, Charles Schwab and Capital One Financial each rose more than 2%.

In a reversal from Wednesday, the energy sector was the only loser in the S&P 500 as oil prices fell sharply. It’s not uncommon for markets to reverse direction after sharp gains or losses over a period of days as investors reassess markets and pause during periods of volatility.

“Investors have kind of gotten conditioned about when there’s volatility and when there are pullbacks: step in and buy the dip, and you will be rewarded in short order,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

The S&P 500 gained 49.46 points to 4,112.50. The Dow Jones Industrial Average rose 433.79 points, or 1.3%, to 34,021.45. The Nasdaq, which is heavily weighted with technology stocks, climbed 93.31 points, or 0.7%, to 13,124.99.

Smaller company stocks, which for most of this year had outgained the broader market, also recovered some of their losses from earlier in the week. The Russell 2000 index picked up 35.81 points, or 1.7%, to 2,170.95.

Recent economic reports have left many investors uneasy. Last week’s jobs report showed fewer employers hiring than had been expected, and on Thursday the government reported that wholesale prices jumped 0.6% last month, driven by higher costs for services and food. That was more than expected and the latest indication that inflation pressures are mounting.

Rising prices reflect growing economic activity after last year’s global shutdown to fight the coronavirus pandemic. However investors worry inflation might disrupt the recovery or prompt central banks to withdraw stimulus and near-zero interest rates.

“The capital markets are clearly grappling in a tug of war,” said Bill Northey, senior investment director at U.S. Bank Wealth Management.

Investors have been questioning whether rising inflation will be something transitory, as the Federal Reserve has said, or something more durable that the Fed will have to address. Currently, the central bank has maintained low interest rates in order to help the economic recovery, but concerns are growing that it will have to shift its position if inflation starts running too hot.

“Is there something more durable being embedded within rising prices? The next several months will not likely resolve this debate,” Northey said.

Bond yields rose sharply this week in response to the data but pulled back slightly on Thursday. The yield on the 10-year Treasury note was 1.66% compared to 1.70% the day before.

In other markets, the price for Bitcoin plunged 10% after Tesla CEO Elon Musk reversed his earlier position on the digital currency and said the electric car maker would no longer accept it as payment.

The price of U.S. crude oil fell 3.4% after a key gasoline pipeline on the East Coast was reopened late Wednesday. The price of crude oil is now down slightly for the week. Energy stocks fell along with oil prices. Occidental Petroleum slid 5.6% for the biggest loss in the S&P 500.

ASX 200 expected to rebound​The Australian share market looks set to end the week on a better note. According to the latest SPI futures, the ASX 200 is expected to open the day 46 points or 0.65% higher this morning. 

This follows a solid night on Wall Street, which saw the Dow Jones jump 1.29%, the S&P 500 climb 1.22%, and the Nasdaq rise 0.72%.


----------



## bigdog

*Stocks close higher with help from tech, still down for week*

Stocks marched solidly higher again Friday, though the major indexes still ended with their worst weekly loss since February after a sharp pullback earlier in the week.

The S&P 500 rose 1.5%, its second straight gain. The gains were broad, though technology sector stocks powered much of the rally. Retailers, banks, communication companies and industrial stocks also helped lift the market. Energy stocks also rose as the price of U.S. crude oil climbed 2.4%. Treasury yields mostly fell.

Investors’ worries about the possibility of rising inflation as the U.S. economy recovers from the coronavirus pandemic fueled three days of heavy selling to start the week, and the major stock indexes were not able to make up all of those losses the last two days.

The S&P 500 lost 1.4% for the week, its first weekly decline in three weeks. The Nasdaq marked its fourth weekly pullback in a row, giving up 2.3%, while the Dow Jones Industrial Average lost 1.1% for the week.

The market’s rally the last two days reflects a mix of traders piling back into the market, which hit all-time highs just last week, to take advantage of lower stock prices, and a boost in confidence after the Centers for Disease Control and Prevention’s decision Thursday to ease mask-wearing guidance for fully vaccinated people. The move is expected to encourage more Americans to go out and spend money, speeding up the reopening of the economy.

“It’s just jittery markets,” said Chris Gaffney, president of TIAA Bank World Markets. “We’re going to continue to see this push-pull between good growth and reopening and inflation worries, that’s what’s causing this volatility.”

The S&P 500 gained 61.35 points to 4,173.85. The Dow rose 360.68 points, or 1.1%, to 34,382.13. The Nasdaq, where the losses this week have been steepest, added 304.99 points, or 2.3%, to 13,429.98.

 Smaller company stocks, which for most of this year have outgained the broader market, also recovered some of their losses from earlier in the week. The Russell 2000 index picked up 53.68 points, or 2.5%, to 2,224.63.

Technology stocks led the gainers after sinking earlier in the week as investors fretted about signs of rising inflation. Apple, Microsoft, Facebook, Amazon.com and Google’s parent company all rose 1% or more.










https://apnews.com/article/asia-technology-business-55457cb93d12992c4c38222218fe2ca3

*Stocks close higher with help from tech, still down for week*

By ALEX VEIGA

Stocks marched solidly higher again Friday, though the major indexes still ended with their worst weekly loss since February after a sharp pullback earlier in the week.

The S&P 500 rose 1.5%, its second straight gain. The gains were broad, though technology sector stocks powered much of the rally. Retailers, banks, communication companies and industrial stocks also helped lift the market. Energy stocks also rose as the price of U.S. crude oil climbed 2.4%. Treasury yields mostly fell.

Investors’ worries about the possibility of rising inflation as the U.S. economy recovers from the coronavirus pandemic fueled three days of heavy selling to start the week, and the major stock indexes were not able to make up all of those losses the last two days.

The S&P 500 lost 1.4% for the week, its first weekly decline in three weeks. The Nasdaq marked its fourth weekly pullback in a row, giving up 2.3%, while the Dow Jones Industrial Average lost 1.1% for the week.

The market’s rally the last two days reflects a mix of traders piling back into the market, which hit all-time highs just last week, to take advantage of lower stock prices, and a boost in confidence after the Centers for Disease Control and Prevention’s decision Thursday to ease mask-wearing guidance for fully vaccinated people. The move is expected to encourage more Americans to go out and spend money, speeding up the reopening of the economy.

“It’s just jittery markets,” said Chris Gaffney, president of TIAA Bank World Markets. “We’re going to continue to see this push-pull between good growth and reopening and inflation worries, that’s what’s causing this volatility.”

The S&P 500 gained 61.35 points to 4,173.85. The Dow rose 360.68 points, or 1.1%, to 34,382.13. The Nasdaq, where the losses this week have been steepest, added 304.99 points, or 2.3%, to 13,429.98.

Smaller company stocks, which for most of this year have outgained the broader market, also recovered some of their losses from earlier in the week. The Russell 2000 index picked up 53.68 points, or 2.5%, to 2,224.63.

Disney fell 2.6% after reporting lower revenue and missing forecasts for growth in subscriber additions to its video streaming service. Disney had been adding subscribers at a breakneck pace the past year, helped by popular shows like “The Mandalorian” and the pandemic, which kept many Americans at home with little to do except watch TV.

DoorDash vaulted 22.1% after after the company said its revenues tripled from a year ago, helped by homebound Americans ordering in.

Technology stocks led the gainers after sinking earlier in the week as investors fretted about signs of rising inflation. Apple, Microsoft, Facebook, Amazon.com and Google’s parent company all rose 1% or more.

Investors have been questioning whether rising inflation will be something temporary, as the Federal Reserve has said, or something more durable that the Fed will have to address. The central bank has kept interest rates low to aid the recovery, but concerns are growing that it will have to shift its position if inflation starts running too hot.

“There’s certainly a lot to be happy about in the reopening and earnings pictures, but at the same time there’s a lot to be worried about if inflation, if these price increases remain and it forces the Fed to act quicker than they want to,” Gaffney said. “That could put a quick halt to the (stock market) rally.”

Data from Commerce Department on Friday showed Americans kept up their share of retail purchases in April, helped by the stimulus checks that have gone out in the last few weeks. However, economists expected retail sales figures to be slightly higher for the month. Sales were up at restaurants and bars in the month, according to the data.

In other economic data, industrial production, which includes output at factories, mines and utilities, rose 0.7% last month, down from a sharp increase of 2.4% in March, the Federal Reserve reported Friday. Auto production fell 4.3% in April, largely because car makers can’t find enough semiconductors. But the output of computers, electrical equipment and appliances, machinery, and metals such as steel all increased.

Bond yields have risen sharply this week but pulled back slightly on Friday. The yield on the 10-year Treasury fell to 1.63% from 1.66% a day earlier.


----------



## bigdog

ASX 200 futures pointing higher​
The Australian share market looks set to start the week on a positive note following a strong finish on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the week 48 points or 07% higher this morning.

 In the United States on Friday, the Dow Jones rose 1.05%, the S&P 500 climbed 1.5%, and the Nasdaq stormed 2.3%. The latter could be good news for tech shares today.


----------



## bigdog

*US stocks slip further from records amid inflation fears*

U.S. stocks slipped on Monday, tacking more losses onto last week’s stumble, as worries about inflation continue to dog Wall Street.

The S&P 500 dipped 10.56, or 0.3%, to 4,163.29, with tech stocks and other former market darlings once again taking the brunt of the losses. The benchmark index is coming off a 1.4% weekly drop from its record high, which would have been even worse if not for a late rebound.

The Dow Jones Industrial Average fell 54.34, or 0.2%, to 34,327.79, while the Nasdaq composite lost 50.93, or 0.4%, to 13,379.05.

Most stocks in the S&P 500 fell, but pockets of strength dotted around the market helped limit the damage. Energy stocks jumped as the price of crude oil rose, while producers of metals and other raw materials also climbed. The Russell 2000 index of smaller stocks inched up 2.49, or 0.1%, to 2,227.12.

They’re the latest back-and-forth eddies for a market swept up in worries about whether rising inflation will prove to be only temporary or longer lasting, as well as enthusiasm about a recovering economy. Prices are rising for everything from auto insurance to restaurant meals as the economy leaps out of last year’s pandemic-induced coma.

If inflation does end up being more than a blip, the fear is that the Federal Reserve will have to dial back the extensive support it’s providing to markets. That includes record-low interest rates and the monthly purchase of $120 billion in bonds meant to goose the job market and economy.

The yield on the 10-year Treasury has shot higher this year amid the inflation fears. It was at 1.65% late Monday, up from 1.63% at the end of last week. It began the year close to 0.90%.

Higher interest rates drag on most of the stock market, but they hit particularly hard on stocks seen as the most expensive and those bid up for profits expected far in the future.

That has put extra pressure on tech stocks and companies promising the allure of big growth, which have been leading the market for years. Apple, Microsoft and Tesla were three of the heaviest weights on the S&P 500 Monday, falling between 0.9% and 2.2%.

In recent weeks, blowout profit reports from tech titans and much of the rest of corporate America have helped validate the huge run stocks have been on for more than a year. The economy continues to strengthen as COVID-19 vaccinations roll out, and the S&P 500 roared to an 11.3% gain in the first four months of the year. That’s a bigger gain than the market has had in half of the last 20 full years.

European stock markets were mostly lower, while Asian markets ended mixed.

ASX 200 expected to rise​The Australian share market looks set to push higher on Tuesday despite a poor start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 16 points or 0.2% higher this morning. 

On Wall Street, the Dow Jones dropped 0.16%, the S&P 500 fell 0.25%, and the Nasdaq tumbled 0.38%.











https://apnews.com/article/singapor...rus-pandemic-35a66cf39abc4a107ac01236c1742719

*US stocks slip further from records amid inflation fears*

By DAMIAN J. TROISE and STAN CHOE

U.S. stocks slipped on Monday, tacking more losses onto last week’s stumble, as worries about inflation continue to dog Wall Street.

The S&P 500 dipped 10.56, or 0.3%, to 4,163.29, with tech stocks and other former market darlings once again taking the brunt of the losses. The benchmark index is coming off a 1.4% weekly drop from its record high, which would have been even worse if not for a late rebound.

The Dow Jones Industrial Average fell 54.34, or 0.2%, to 34,327.79, while the Nasdaq composite lost 50.93, or 0.4%, to 13,379.05.

Most stocks in the S&P 500 fell, but pockets of strength dotted around the market helped limit the damage. Energy stocks jumped as the price of crude oil rose, while producers of metals and other raw materials also climbed. The Russell 2000 index of smaller stocks inched up 2.49, or 0.1%, to 2,227.12.

They’re the latest back-and-forth eddies for a market swept up in worries about whether rising inflation will prove to be only temporary or longer lasting, as well as enthusiasm about a recovering economy. Prices are rising for everything from auto insurance to restaurant meals as the economy leaps out of last year’s pandemic-induced coma.

If inflation does end up being more than a blip, the fear is that the Federal Reserve will have to dial back the extensive support it’s providing to markets. That includes record-low interest rates and the monthly purchase of $120 billion in bonds meant to goose the job market and economy.

The yield on the 10-year Treasury has shot higher this year amid the inflation fears. It was at 1.65% late Monday, up from 1.63% at the end of last week. It began the year close to 0.90%.

Higher interest rates drag on most of the stock market, but they hit particularly hard on stocks seen as the most expensive and those bid up for profits expected far in the future.

That has put extra pressure on tech stocks and companies promising the allure of big growth, which have been leading the market for years. Apple, Microsoft and Tesla were three of the heaviest weights on the S&P 500 Monday, falling between 0.9% and 2.2%.

In recent weeks, blowout profit reports from tech titans and much of the rest of corporate America have helped validate the huge run stocks have been on for more than a year. The economy continues to strengthen as COVID-19 vaccinations roll out, and the S&P 500 roared to an 11.3% gain in the first four months of the year. That’s a bigger gain than the market has had in half of the last 20 full years.

“History says whenever we’ve had such a strong start to the year we tend to take a break and digest some of those gains,” said Sam Stovall, chief investment strategist at CFRA. “In many ways this is fairly natural.”

For all the worries about inflation, many professional investors are echoing the Federal Reserve in saying that they expect rising prices to remain only “transitory.” Many analysts along Wall Street also expect the strong profit growth for companies to continue through the year as the economy and job market improve. That should help to support stock prices, though it may not give a big further boost after shares surged last year when profits cratered.

Steelmakers made some of the market’s strongest gains on Monday following the suspension of key measures in a tariff dispute between the U.S. and European Union. Nucor rose 3.7%, and U.S. Steel rose 3.4%.

AT&T slipped 2.7%, and Class A shares of Discovery dropped 5% after the companies announced a $43 billion deal that will combine several major media and streaming entertainment businesses. The new company folds in AT&T’s CNN and HBO channels with Discovery’s Food Network and HGTV.

European stock markets were mostly lower, while Asian markets ended mixed.


----------



## bigdog

*A late drop leaves Wall Street indexes lower, led by tech*

Stocks closed lower on Wall Street Tuesday as a late-afternoon sell-off in technology companies helped nudge stock indexes into the red for the second straight day.

The S&P 500 lost 0.9%, with most of the pullback coming in the last hour of trading. Apple, Facebook and Google’s parent company all lost 1% or more as technology stocks fell broadly. While they powered the market rebound last year, tech stocks are up only 2.6% this year, the lowest gain among the S&P 500′s 11 sectors.

Banks, industrial and communication companies also helped drag the market lower, easily outweighing small gains by health care stocks, among others. Energy companies fell the most as the price of U.S. crude oil fell 1.2%. Treasury yields held steady.

Investors continued to size up the latest batch of company earnings reports, including quarterly snapshots from Walmart and Home Depot.

Wall Street is also weighing the possibility of more inflation later this year and economic recovery as the coronavirus pandemic eases. That balancing act has contributed to a market pullback this month.

“Stocks appear to be in consolidation mode, digesting strong year-to-date gains on the heels of a superb first-quarter reporting period,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. “We view this pullback that we’re experiencing over the last week or so as within the normal ebb and flow of a broad market that still has legs to trend higher.”

The S&P 500 lost 35.46 points to 4,127.83. The Dow Jones Industrial Average fell 267.13 points, or 0.8%, to 34,060.66. The tech-heavy Nasdaq dropped 75.41 points, or 0.6%, to 13,303.64. The Russell 2000 index of small company stocks gave up 16.24 points, or 0.7%, to 2,210.88. Each of the indexes had been up at some point in the early going.

The broader market made solid gains early in the year as investors bet on an economic recovery fueled by widespread vaccinations. Expectations were high for corporate earnings and the latest round of results has been surprisingly good. Wall Street is now digesting that growth and shifting to a more cautious view.

“Some sort of pause was always inevitable,” said Ross Mayfield, investment strategist at Baird. “Eventually markets see a more challenging landscape ahead and general uncertainty.”

Investors have been worried about whether rising inflation will prove to be either temporary or whether it will endure. Prices are rising for everything from gasoline to food as the economy recovers from its more than year-long malaise.

ASX 200 expected to fall​It looks set to be another disappointing day of trade for the Australian share market on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 74 points or 1.05% lower this morning. 

This follows a poor night of trade on Wall Street which saw the Dow Jones fall 0.78%, the S&P 500 drop 0.85% and the Nasdaq fall 0.56%.










https://apnews.com/article/asia-inf...rus-pandemic-ce66b85d1e13fe296c5c3f9cc9b43f1d

*A late drop leaves Wall Street indexes lower, led by tech*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed lower on Wall Street Tuesday as a late-afternoon sell-off in technology companies helped nudge stock indexes into the red for the second straight day.

The S&P 500 lost 0.9%, with most of the pullback coming in the last hour of trading. Apple, Facebook and Google’s parent company all lost 1% or more as technology stocks fell broadly. While they powered the market rebound last year, tech stocks are up only 2.6% this year, the lowest gain among the S&P 500′s 11 sectors.

Banks, industrial and communication companies also helped drag the market lower, easily outweighing small gains by health care stocks, among others. Energy companies fell the most as the price of U.S. crude oil fell 1.2%. Treasury yields held steady.

Investors continued to size up the latest batch of company earnings reports, including quarterly snapshots from Walmart and Home Depot.

Wall Street is also weighing the possibility of more inflation later this year and economic recovery as the coronavirus pandemic eases. That balancing act has contributed to a market pullback this month.

“Stocks appear to be in consolidation mode, digesting strong year-to-date gains on the heels of a superb first-quarter reporting period,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. “We view this pullback that we’re experiencing over the last week or so as within the normal ebb and flow of a broad market that still has legs to trend higher.”

The S&P 500 lost 35.46 points to 4,127.83. The Dow Jones Industrial Average fell 267.13 points, or 0.8%, to 34,060.66. The tech-heavy Nasdaq dropped 75.41 points, or 0.6%, to 13,303.64. The Russell 2000 index of small company stocks gave up 16.24 points, or 0.7%, to 2,210.88. Each of the indexes had been up at some point in the early going.

The broader market made solid gains early in the year as investors bet on an economic recovery fueled by widespread vaccinations. Expectations were high for corporate earnings and the latest round of results has been surprisingly good. Wall Street is now digesting that growth and shifting to a more cautious view.

“Some sort of pause was always inevitable,” said Ross Mayfield, investment strategist at Baird. “Eventually markets see a more challenging landscape ahead and general uncertainty.”

Investors have been worried about whether rising inflation will prove to be either temporary or whether it will endure. Prices are rising for everything from gasoline to food as the economy recovers from its more than year-long malaise.

The fear is that the Federal Reserve will have to dial back the extensive support if inflation persists. That includes record-low interest rates and the monthly purchase of $120 billion in bonds meant to goose the job market and economy. For all the worries about inflation, many professional investors are echoing the Federal Reserve in saying that they expect rising prices to be “transitory.”

“I don’t think we’re entering a new period of structurally higher inflation, but at the same time its impossible to say it’s not one of the main risks investors face,” Mayfield said.

Higher interest rates drag on most of the stock market, but they are particularly painful for stocks considered the most expensive and those bid up for profits expected far into the future. This mostly involves technology stocks, which rose sharply last year and are valued highly on the future profits those companies could bring in.

Investors have been able to draw encouragement from company earnings reports, which have been surprisingly good.

“By most metrics you’re seeing company financials reflect an economy that’s starting to open up and that’s consistent with economic growth,” Sandven said.

Retailers are among the last companies to report first-quarter results, with several of them set to do so this week, including Target and Lowe’s.

On Tuesday, Walmart rose 2.2% after the giant retailer’s results beat estimates as online shopping saw significant growth from a year ago, driven in part by Americans buying online in the pandemic.

AT&T fell 5.8% for the biggest decline in the S&P 500 and continued a two-day slide after the company announced it would spin off its Warner media assets into a new company with Discovery Communications. AT&T only finished acquiring Warner, which includes HBO, CNN, DC Comics and other iconic properties, in 2018 and its new CEO is pulling an about-face on his predecessor’s decisions.


----------



## bigdog

*Stocks fall for a 3rd day; Bitcoin sinks after a wild ride*

Wall Street racked up more losses Wednesday as the stock market pulled back for the third straight day. The broad sell-off went beyond stocks, with the price of Bitcoin and other cryptocurrencies falling sharply.

The S&P 500 index dropped 0.3% after recovering from a 1.6% slide earlier in the day. The benchmark index is on track for its second weekly loss in a row.

Bank stocks were among the biggest decliners. Goldman Sachs fell 1.7% and Wells Fargo lost 1.5%. A range of retailers and other companies that rely directly on consumer spending also pulled the market lower. Home Depot slid 0.7%, Gap fell 3% and L Brands dropped 3.1%.

Energy sector stocks, the biggest gainers so far this year, bore the heaviest losses as the price of U.S. crude oil skidded 3.5%.

Digital currencies fell sharply after China’s banking association issued a warning over the risks associated with digital currencies. A statement posted on the industry association’s website said all members should “resolutely refrain from conducting or participating in any business activities related to virtual currencies.”

“Stocks and cryptocurrencies have been showing signs of froth over the past few months and were due for a pullback,” said Richard Saperstein, chief investment officer of Treasury Partners.

The S&P 500 lost 12.15 points to 4,115.68. The Dow Jones Industrial Average fell 164.62 points, or 0.5%, to 33,896.04. The blue-chip index had been down 586 points. The Nasdaq fared better than the rest of the market, shedding only 3.90 points, or less than 0.1%, to 13,299.74.

Smaller company stocks also lost ground. The Russell 2000 index gave up 17.24 points, or 0.8%, to 2,193.64.

Bitcoin’s price was down 10.8% to $38,723, well below its all-time high of over $64,800 reached a month ago, according to the crypto news site Coindesk. It swung in a huge range of as low as $30,202 and as high as $43,621 over the course of the day.

That the headline out of China rattled crypto investors suggests the market was already weak, said Willie Delwiche, investment strategist at All Star Charts.

“If Bitcoin had been holding up better, a headline like that would be dismissed more readily, but it comes at a time when Bitcoin was already well off its highs,” he said. “It gave people who were looking for a reason to sell cover.”

The Bitcoin skid comes after longtime Bitcoin advocate Tesla recently recently said it would no longer accept Bitcoin as payment for its cars, reversing its earlier position.

The selling was so intense that the web site of Coinbase, an online brokerage for digital currencies, was temporarily down in the morning. Coinbase’s stock dropped 5.9%, ending about 34% below the peak it reached on April 16, just two days after its IPO.

*ASX 200 expected to edge higher*
The Australian share market looks set for a subdued day on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 3 points higher this morning. 

On Wall Street, the Dow Jones fell 0.48%, the S&P 500 dropped 0.29%, and the Nasdaq edged slightly lower.










https://apnews.com/article/asia-bit...c-technology-fdab9913edf962295f7c12589e3ee199

*Stocks fall for a 3rd day; Bitcoin sinks after a wild ride*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street racked up more losses Wednesday as the stock market pulled back for the third straight day. The broad sell-off went beyond stocks, with the price of Bitcoin and other cryptocurrencies falling sharply.

The S&P 500 index dropped 0.3% after recovering from a 1.6% slide earlier in the day. The benchmark index is on track for its second weekly loss in a row.

Bank stocks were among the biggest decliners. Goldman Sachs fell 1.7% and Wells Fargo lost 1.5%. A range of retailers and other companies that rely directly on consumer spending also pulled the market lower. Home Depot slid 0.7%, Gap fell 3% and L Brands dropped 3.1%.

Energy sector stocks, the biggest gainers so far this year, bore the heaviest losses as the price of U.S. crude oil skidded 3.5%.

Digital currencies fell sharply after China’s banking association issued a warning over the risks associated with digital currencies. A statement posted on the industry association’s website said all members should “resolutely refrain from conducting or participating in any business activities related to virtual currencies.”

“Stocks and cryptocurrencies have been showing signs of froth over the past few months and were due for a pullback,” said Richard Saperstein, chief investment officer of Treasury Partners.

The S&P 500 lost 12.15 points to 4,115.68. The Dow Jones Industrial Average fell 164.62 points, or 0.5%, to 33,896.04. The blue-chip index had been down 586 points. The Nasdaq fared better than the rest of the market, shedding only 3.90 points, or less than 0.1%, to 13,299.74.

Smaller company stocks also lost ground. The Russell 2000 index gave up 17.24 points, or 0.8%, to 2,193.64.

Bitcoin’s price was down 10.8% to $38,723, well below its all-time high of over $64,800 reached a month ago, according to the crypto news site Coindesk. It swung in a huge range of as low as $30,202 and as high as $43,621 over the course of the day.

That the headline out of China rattled crypto investors suggests the market was already weak, said Willie Delwiche, investment strategist at All Star Charts.

“If Bitcoin had been holding up better, a headline like that would be dismissed more readily, but it comes at a time when Bitcoin was already well off its highs,” he said. “It gave people who were looking for a reason to sell cover.”

The Bitcoin skid comes after longtime Bitcoin advocate Tesla recently recently said it would no longer accept Bitcoin as payment for its cars, reversing its earlier position.

The selling was so intense that the web site of Coinbase, an online brokerage for digital currencies, was temporarily down in the morning. Coinbase’s stock dropped 5.9%, ending about 34% below the peak it reached on April 16, just two days after its IPO.

Investors continue to be focused on whether rising inflation will be temporary or whether it will endure. Prices are rising for everything from gasoline to food as the economy recovers from its more than year-long malaise.

The Federal Reserve expects that rising inflation will be temporary and related to the recovering economy, but investors are still uncertain and have been more cautious.

“That’s one of the things people are struggling with,” said J.J. Kinahan, chief strategist with TD Ameritrade. “They go to get gas and get in line at a grocery store and they see higher prices; there’s this mixed message for the average investor.”

The fear is that the Federal Reserve will have to dial back its extensive support if inflation persists. That includes record-low interest rates and the monthly purchase of $120 billion in bonds meant to goose the job market and economy.

The minutes from the central bank’s April meeting of policymakers, which were released Wednesday afternoon, reaffirmed the view that the Fed’s decision to keep its benchmark interest rate ultra-low remains the best policy approach, though some officials cautioned that some factors pushing inflation higher may not be resolved quickly.

For all the worries about inflation, however, many professional investors are echoing the Federal Reserve in saying that they expect rising prices to be “transitory.”

Higher interest rates drag on most of the stock market, but they are particularly painful for stocks, especially technology shares, considered the most expensive and those bid up for profits expected far into the future.

Treasury yields mostly rose. The yield on the 10-year Treasury note rose to 1.67% from 1.64% late Tuesday.

Target gained 6.1% after reporting strong results as consumers, some flush with U.S. stimulus payments, were eager to spend as the pandemic eases.


----------



## bigdog

*Stocks End Higher on Wall Street, Breaking a 3-Day Slump*

Stock closed higher on Wall Street Thursday, ending a three-day losing streak.

Technology companies led broad gains for stocks on Wall Street Thursday, ending a three-day losing streak for major U.S. indexes.

The S&P 500 gained 1.1%. The benchmark index is still on track for its second straight weekly loss.

Technology and communications stocks accounted for much of the market rally. Apple rose 2.1% and Google’s parent, Alphabet, rose 1.6%. Nearly every sector in the S&P 500 made gains, though a drop in oil prices dragged energy sector stocks lower. The sector remains the biggest gainer so far this year with a 36% gain.

Investors continue to be focused on the potential for inflation down the road. Prices for everything from gasoline to lumber have been rising sharply this year as the economy reheats after the pandemic, and investors have been worried that high inflation may cause the Federal Reserve to pull back on its stimulus efforts.

“There’s a bit of churning going on in the markets,” said Tom Martin, senior portfolio manager with Globalt Investments. “Here we are near all-time highs on the S&P 500, and there’s so much uncertainty about what is actually happening with inflation, how long it’s going to last and how the Fed will react.”

The S&P 500 rose 43.44 points to 4,159.12. The Dow Jones Industrial Average added 188.11 points, or 0.6%, to 34,084.15. The technology heavy Nasdaq fared better than the rest of the market, climbing 236 points, or 1.8%, to 13,535.74.

Small company stocks also notched gains. The Russell 2000 index picked up 14.12 points, or 0.6%, to 2,207.76.

Several retailers were among the biggest decliners in the S&P 500. Gap dropped 1.4%, while L Brands skidded 2.6%. Ross Stores lost 2.7%.

Digital currencies fell sharply Wednesday after China’s banking association issued a warning over the risks associated with digital currencies. On Thursday the price of Bitcoin regained some ground, adding 4.4% to roughly $40,213, according to the online brokerage Coinbase.

ASX 200 expected to rise again​The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 36 points or 0.5% higher this morning. 

This follows a solid night on Wall Street, which saw the Dow Jones rise 0.55%, the S&P 500 climb 1.06%, and the Nasdaq storm 1.77% higher.










https://www.usnews.com/news/busines...ian-shares-mixed-after-retreat-on-wall-street

Stocks End Higher on Wall Street, Breaking a 3-Day Slump​Stock closed higher on Wall Street Thursday, ending a three-day losing streak.

By Associated Press

May 20, 2021, at 4:33 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Technology companies led broad gains for stocks on Wall Street Thursday, ending a three-day losing streak for major U.S. indexes.

The S&P 500 gained 1.1%. The benchmark index is still on track for its second straight weekly loss.

Technology and communications stocks accounted for much of the market rally. Apple rose 2.1% and Google’s parent, Alphabet, rose 1.6%. Nearly every sector in the S&P 500 made gains, though a drop in oil prices dragged energy sector stocks lower. The sector remains the biggest gainer so far this year with a 36% gain.

Investors continue to be focused on the potential for inflation down the road. Prices for everything from gasoline to lumber have been rising sharply this year as the economy reheats after the pandemic, and investors have been worried that high inflation may cause the Federal Reserve to pull back on its stimulus efforts.

“There’s a bit of churning going on in the markets,” said Tom Martin, senior portfolio manager with Globalt Investments. “Here we are near all-time highs on the S&P 500, and there’s so much uncertainty about what is actually happening with inflation, how long it’s going to last and how the Fed will react.”

The S&P 500 rose 43.44 points to 4,159.12. The Dow Jones Industrial Average added 188.11 points, or 0.6%, to 34,084.15. The technology heavy Nasdaq fared better than the rest of the market, climbing 236 points, or 1.8%, to 13,535.74.

Small company stocks also notched gains. The Russell 2000 index picked up 14.12 points, or 0.6%, to 2,207.76.

Several retailers were among the biggest decliners in the S&P 500. Gap dropped 1.4%, while L Brands skidded 2.6%. Ross Stores lost 2.7%.

The number of Americans seeking unemployment aid fell last week to 444,000, a new pandemic low and a sign that the job market keeps strengthening as consumers spend freely again, viral infections drop and business restrictions ease.

Part of that decline may be fueled by Republican governors who have opted not to allow their residents to claim the $300-a-week supplemental benefit that came with the latest economic relief package. The move could be pushing more people back into the labor market.

Treasury yields mostly fell, despite the positive economic data. The yield on the 10-year Treasury note slipped to 1.63% from 1.67% late Wednesday.

Oatly, the largest maker of oat milk in the world, jumped 18.8% on its first day of trading on the Nasdaq Stock Exchange. The company raised $1.5 billion as part of its initial public offering.

Digital currencies fell sharply Wednesday after China’s banking association issued a warning over the risks associated with digital currencies. On Thursday the price of Bitcoin regained some ground, adding 4.4% to roughly $40,213, according to the online brokerage Coinbase.


----------



## bigdog

*Stocks end a wobbly day mixed; S&P 500 posts a weekly loss*

Wall Street racked up more losses Friday on a choppy day of trading that left the major indexes mixed and the S&P 500 with its second straight weekly decline.

The S&P 500 ended 0.1% lower after having been up 0.7% in the early going. The benchmark index, which hit an all-time high two weeks ago, lost 0.4% this week. That follows a 1.4% loss last week.

Gains for banks and health care companies were kept in check by drops in technology stocks and in companies like Tesla, McDonald’s and Amazon.com that rely directly on consumer spending. Energy stocks eked out a small gain as the price of U.S. crude oil rose. Treasury yields were mixed.

The market’s latest bout of selling come as investors remain focused on the possibility of inflation as the economy stirs to life following more than a year of shutdowns related to the COVID-19 pandemic.

“The market is trying to digest signs of incipient inflation that may be more than transitory, with what the Fed’s reaction might be,” said Alicia Levine, chief strategist at BNY Mellon Investment Management.

The S&P 500 slipped 3.26 points to 4,155.86, while the Nasdaq slid 64.75 points, or 0.5%, to 13,470.99. The Dow Jones Industrial Average fared better, gaining 123.69 points, or 0.4%, to 34,207.84.

Small company stocks also notched gains. The Russell 2000 index picked up 7.51 points, or 0.3%, to 2,215.27.

The market’s pullback this month reflects heightened unease among traders that rising inflation may prompt central banks to pull back on their efforts to support job growth before the economic recovery is fully realized. The Federal Reserve has said it expects any bump in inflation to be temporary, though investors are uncertain about how hot inflation could become.

Analysts have also said investors are looking further ahead, beyond the recovery, and wary about potential tax changes and the impact they may have on growth.

The U.S. Treasury Department supports a global minimum corporate tax rate of at least 15% as part of an effort to end what it calls “a race to the bottom” as countries compete with each other to cut corporate tax rates and lure multinational companies.











https://apnews.com/article/asia-tec...mic-business-e2badffd697545ea7faf05c15d9fa4a7

*Stocks end a wobbly day mixed; S&P 500 posts a weekly loss*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street racked up more losses Friday on a choppy day of trading that left the major indexes mixed and the S&P 500 with its second straight weekly decline.

The S&P 500 ended 0.1% lower after having been up 0.7% in the early going. The benchmark index, which hit an all-time high two weeks ago, lost 0.4% this week. That follows a 1.4% loss last week.

Gains for banks and health care companies were kept in check by drops in technology stocks and in companies like Tesla, McDonald’s and Amazon.com that rely directly on consumer spending. Energy stocks eked out a small gain as the price of U.S. crude oil rose. Treasury yields were mixed.

The market’s latest bout of selling come as investors remain focused on the possibility of inflation as the economy stirs to life following more than a year of shutdowns related to the COVID-19 pandemic.

“The market is trying to digest signs of incipient inflation that may be more than transitory, with what the Fed’s reaction might be,” said Alicia Levine, chief strategist at BNY Mellon Investment Management.

The S&P 500 slipped 3.26 points to 4,155.86, while the Nasdaq slid 64.75 points, or 0.5%, to 13,470.99. The Dow Jones Industrial Average fared better, gaining 123.69 points, or 0.4%, to 34,207.84.

Small company stocks also notched gains. The Russell 2000 index picked up 7.51 points, or 0.3%, to 2,215.27.

The market’s pullback this month reflects heightened unease among traders that rising inflation may prompt central banks to pull back on their efforts to support job growth before the economic recovery is fully realized. The Federal Reserve has said it expects any bump in inflation to be temporary, though investors are uncertain about how hot inflation could become.

Analysts have also said investors are looking further ahead, beyond the recovery, and wary about potential tax changes and the impact they may have on growth.

The U.S. Treasury Department supports a global minimum corporate tax rate of at least 15% as part of an effort to end what it calls “a race to the bottom” as countries compete with each other to cut corporate tax rates and lure multinational companies.

Solid earnings helped lift several companies Friday. Foot Locker rose 2% after reporting solid first-quarter earnings and revenue. Agricultural equipment maker Deere gained 1.3% after beating Wall Street’s fiscal second-quarter profit forecasts.

Oatmilk maker Oatly rose another 11.2%, following the 19% climb it made a day earlier on its first day of trading.

Nvidia, the graphics card and chip manufacturer, rose 2.6% after the company announced a four-for-one stock split. Nvidia was one of the biggest gainers of 2020.

Treasury yields were mostly stable. The yield on the 10-year Treasury note fell to 1.62% from 1.63% late Thursday.

The price of Bitcoin also turned choppy following headlines out of China, where a government official said in a statement that the country is focused on cracking down on Bitcoin “mining and trading behavior.”

Earlier this week, the price of Bitcoin and other digital currencies fell sharply after China’s banking association issued a warning over the risks associated with digital currencies. The price of Bitcoin gave up 12% to about $35,412, according to crypto news and information site Coindesk.


----------



## bigdog

ASX 200 futures pointing lower​
The Australian share market looks set to start the week on a subdued note. According to the latest SPI futures, the ASX 200 is expected to open the week 5 points or 0.1% lower this morning following a mixed finish on Wall Street.

 In the United States on Friday, the Dow Jones rose 0.35%, the S&P 500 fell 0.1%, and the Nasdaq tumbled 0.5%.


----------



## bigdog

*Stocks climb on Wall Street as appetite for risk returns*

Stocks closed higher on Wall Street Monday, and the broad rally helped the S&P 500 claw back more than half of its losses over the past two weeks.

The benchmark index rose 1%, led by solid gains in technology and communication companies such as Microsoft, Google’s parent company, Facebook and Twitter. A variety of companies that rely on direct consumer spending also made solid gains. Sectors that are viewed as safer investments, like utilities, lagged the broader market. Bond yields fell.

The rally marks a reversal from the market’s recent trajectory. The S&P 500 followed up an all-time high close on May 7 with two straight weekly declines. Investors have been watching for potential signs of inflation as the economic recovery continues in the waning days of the U.S. coronavirus pandemic.

Rob Haworth, senior investment strategy director at U.S. Bank Wealth Management, said the decline in bond yields was spurring the rally, especially in technology and communication services stocks.

“You have inflation expectations coming out of the bond market and that’s allowing some lift” to the stocks, Haworth said.

The S&P 500 index rose 41.19 points to 4,197.05. The index is now on track for a 0.4% monthly gain. The Dow Jones Industrial Average added 186.14 points, or 0.5%, to 34,393.98. The tech-heavy Nasdaq Composite gained 190.18 points, or 1.4%, to 13,661.17.

Smaller company stocks also notched gains. The Russell 2000 index picked up 12.07 points, or 0.5%, to 2,227.34.

The current earnings reporting season is near its end, and companies have been reporting strong results for the first quarter. That has helped reaffirm Wall Street’s view that the economic recovery is solid. It has also helped to justify some of the pricey stock values in several sectors, especially technology. Investors will get results from Dell and Salesforce.com this week, among a few others.

“Now we realize there’s still some spectacular earnings growth and fundamentals coming from tech and communications and growth stocks in general,” said Ryan Detrick, chief market strategist for LPL Financial.

Technology stocks accounted for a big share of the upward move in the market Monday, with semiconductor companies among the big gainers. Nvidia rose 4.1%, while Micron Technology added 2.7%. Among communication stocks, Facebook gained 2.7% and Twitter jumped 4.8%

There are only a handful of economic reports this week, including monthly data on new home sales and prices. On Friday, investors will get another reading on inflation in the form of the Commerce Department’s personal consumption and expenditures index. “Core PCE,” as it is known, is the preferred way Federal Reserve policymakers choose to measure inflation in the U.S. instead of the more widely known consumer price index that’s reported earlier in the month.

ASX 200 expected to rise​The Australian share market looks set to push higher on Tuesday following a solid start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 18 points or 0.25% higher this morning. 

On Wall Street, the Dow Jones rose 0.54%, the S&P 500 jumped 1%, and the Nasdaq stormed 1.41% higher.










https://apnews.com/article/asia-hea...mic-business-57a7199bbbb30cb27af6e6d76aa4356e

*Stocks climb on Wall Street as appetite for risk returns*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed higher on Wall Street Monday, and the broad rally helped the S&P 500 claw back more than half of its losses over the past two weeks.

The benchmark index rose 1%, led by solid gains in technology and communication companies such as Microsoft, Google’s parent company, Facebook and Twitter. A variety of companies that rely on direct consumer spending also made solid gains. Sectors that are viewed as safer investments, like utilities, lagged the broader market. Bond yields fell.

The rally marks a reversal from the market’s recent trajectory. The S&P 500 followed up an all-time high close on May 7 with two straight weekly declines. Investors have been watching for potential signs of inflation as the economic recovery continues in the waning days of the U.S. coronavirus pandemic.

Rob Haworth, senior investment strategy director at U.S. Bank Wealth Management, said the decline in bond yields was spurring the rally, especially in technology and communication services stocks.

“You have inflation expectations coming out of the bond market and that’s allowing some lift” to the stocks, Haworth said.

The S&P 500 index rose 41.19 points to 4,197.05. The index is now on track for a 0.4% monthly gain. The Dow Jones Industrial Average added 186.14 points, or 0.5%, to 34,393.98. The tech-heavy Nasdaq Composite gained 190.18 points, or 1.4%, to 13,661.17.

Smaller company stocks also notched gains. The Russell 2000 index picked up 12.07 points, or 0.5%, to 2,227.34.

The current earnings reporting season is near its end, and companies have been reporting strong results for the first quarter. That has helped reaffirm Wall Street’s view that the economic recovery is solid. It has also helped to justify some of the pricey stock values in several sectors, especially technology. Investors will get results from Dell and Salesforce.com this week, among a few others.

“Now we realize there’s still some spectacular earnings growth and fundamentals coming from tech and communications and growth stocks in general,” said Ryan Detrick, chief market strategist for LPL Financial.

Technology stocks accounted for a big share of the upward move in the market Monday, with semiconductor companies among the big gainers. Nvidia rose 4.1%, while Micron Technology added 2.7%. Among communication stocks, Facebook gained 2.7% and Twitter jumped 4.8%

There are only a handful of economic reports this week, including monthly data on new home sales and prices. On Friday, investors will get another reading on inflation in the form of the Commerce Department’s personal consumption and expenditures index. “Core PCE,” as it is known, is the preferred way Federal Reserve policymakers choose to measure inflation in the U.S. instead of the more widely known consumer price index that’s reported earlier in the month.

Economists surveyed by FactSet expect Core PCE to be up 3% from a year ago, which would be above the Federal Reserve’s targeted level for inflation.

“We all expect inflation to be going up because of year-over-year comparisons,” Detrick said. “The number will be higher, but the question is will it be hotter than expected.”

The yield on the 10-year Treasury note fell to 1.60% from 1.63% Friday.

Digital currencies like Bitcoin were volatile once again after plummeting over the last two weeks. Bitcoin climbed 17.6% to around $39,539, according to Coindesk. It was worth nearly $65,000 a month ago.

Virgin Galactic jumped 27.6% after the company made its first rocket-powered flight from New Mexico to the fringe of space in a manned shuttle over the weekend.


----------



## bigdog

*Stocks give up an early gain and end lower on Wall Street*

Wall Street capped a listless day of trading Tuesday with a modest pullback for the major U.S. stock indexes, giving back some of the market’s gains after a solid start to the week.

The S&P 500 slipped 0.2% after spending much of the day wavering between small gains and losses. Financial, energy and health care stocks accounted for much of the decline. Technology and communication stocks eked out gains, as did big retailers, cruise lines and other companies that rely on consumer spending.

Homebuilders were among the biggest gainers following a report that U.S. home prices jumped in March by the most in more than seven years as an increasing number of would-be buyers compete for a dwindling supply of houses. D.R. Horton rose 2.3% and Toll Brothers gained 2.4%. KB Home rose 3.3% after also reporting that orders have so far more than doubled during the second quarter.

Investors continue to weigh the economic recovery’s progress against lingering concerns about inflation.

“Of course they’re still elevated, but fears of inflation seem to have come off the boil a little bit here,” said Katie

The S&P 500 fell 8.92 points to 4,188.13. The Dow Jones Industrial Average dropped 81.52 points, or 0.2%, to 34,312.46. The blue-chip index had been up by 117 points in the early going. The Nasdaq fell 4 points, or less than 0.1%, to 13,657.17.

Smaller company stocks fared worse than the broader market. The Russell 2000 index lost 21.59 points, or 1%, to 2,205.75.

Strong company earnings and encouraging data pointing to an accelerating economic recovery have helped keep the market near all-time highs, despite some heavier selling this month. The S&P 500 hit an all-time high on May 7th, but posted two straight weekly declines heading into this week.

ASX 200 expected to fall​It looks set to be a disappointing day of trade for the Australian share market on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 34 points or 0.5% lower this morning. 

This follows an underwhelming night of trade on Wall Street which saw the Dow Jones fall 0.24%, the S&P 500 drop 0.21% and the Nasdaq trade broadly flat.










https://apnews.com/article/asia-inf...mic-business-7dc5fff4c572ea52fbc77202458e1c08

*Stocks give up an early gain and end lower on Wall Street*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped a listless day of trading Tuesday with a modest pullback for the major U.S. stock indexes, giving back some of the market’s gains after a solid start to the week.

The S&P 500 slipped 0.2% after spending much of the day wavering between small gains and losses. Financial, energy and health care stocks accounted for much of the decline. Technology and communication stocks eked out gains, as did big retailers, cruise lines and other companies that rely on consumer spending.

Homebuilders were among the biggest gainers following a report that U.S. home prices jumped in March by the most in more than seven years as an increasing number of would-be buyers compete for a dwindling supply of houses. D.R. Horton rose 2.3% and Toll Brothers gained 2.4%. KB Home rose 3.3% after also reporting that orders have so far more than doubled during the second quarter.

Investors continue to weigh the economic recovery’s progress against lingering concerns about inflation.

“Of course they’re still elevated, but fears of inflation seem to have come off the boil a little bit here,” said Katie

The S&P 500 fell 8.92 points to 4,188.13. The Dow Jones Industrial Average dropped 81.52 points, or 0.2%, to 34,312.46. The blue-chip index had been up by 117 points in the early going. The Nasdaq fell 4 points, or less than 0.1%, to 13,657.17.

Smaller company stocks fared worse than the broader market. The Russell 2000 index lost 21.59 points, or 1%, to 2,205.75.

Strong company earnings and encouraging data pointing to an accelerating economic recovery have helped keep the market near all-time highs, despite some heavier selling this month. The S&P 500 hit an all-time high on May 7th, but posted two straight weekly declines heading into this week.

Inflation remains a key concern, particularly if the global economic recovery is hampered if governments and central banks have to withdraw stimulus to combat rising prices. It’s partly why stocks fell the previous two weeks. Still, analysts expect any rise in inflation to be tied to the growing economy and will likely be more moderate.

Bond yields have been relatively stable after rising sharply earlier in the year. The yield on the 10-year Treasury fell to 1.56% from 1.60% late Monday.

“We could see some upward pressure on rates, but ultimately Treasuries will be range-bound for the foreseeable future,” Nixon said.

The red-hot housing market and a report that consumer confidence remains strong gave investors another signal Tuesday that the economic recovery continues. Businesses have been reopening as more people get vaccinated and new COVID-19 cases fall. Moderna rose 3.1% after the drugmaker said its COVID-19 vaccine was found to be effective in children aged 12 to 15.

Investors will get more clues about the economic recovery’s trajectory this week. The Commerce Department will release its GDP report for the first quarter on Thursday. The U.S. economy grew at an annual rate of 4.3% in the final three months of 2020, which was slightly faster than previously estimated. Economists expect a huge rebound this year.

The Labor Department will release its weekly report on claims for unemployment benefits Thursday. Employment has been a closely watched factor for the economy. It has lagged other measures throughout the recovery so far and is viewed as necessary for a sustained rebound.


----------



## bigdog

*Stocks close modestly higher after choppy day on Wall Street*

A choppy day of trading on Wall Street ended with stocks closing higher Wednesday, reversing much of the S&P 500′s modest pullback the day before.

The benchmark index ended just under 0.2% higher after wavering between small gains and losses. Retailers and other companies that rely on consumer spending made solid gains. Communication and financial stocks also helped lift the market. The S&P 500′s gains were tempered by declines in health care, technology and other stocks.

Smaller company stocks continued to outgain the rest of the market as they’ve done all year. Treasury yields mostly edged higher.

Markets have been bumpy over the last few days as investors move past a stellar corporate earnings season and await additional clues on economic growth and inflation, which has been rising.

“That’s just going to be the state of the market environment for some time to come,” said Kristina Hooper, chief global market strategist at Invesco.

The S&P 500 rose 7.86 points to 4,195.99. The Dow Jones Industrial Average, which turned 125 years old Wednesday, gained 10.59 points, or less than 0.1%, to 34,323.05. The blue-chip index swung between a gain of 97 points and a 41-point slide. The Nasdaq added 80.82 points, or 0.6%, to 13,738. The Russell 2000 index of smaller companies gained 43.52 points, or 2%, to 2,249.27.

The S&P 500 hit an all-time high on May 7th, but then fell for two straight weeks heading into this week. The index is on track for a gain this week of about 1%.

Investors bid up shares in several retailers that delivered strong quarterly report cards. Dick’s Sporting Goods jumped 16.9% after reporting a surge in first-quarter sales and solid earnings as team sports returned. Urban Outfitters rose 10% and Abercrombie & Fitch climbed 7.8% on similarly strong financial results.

Retailers, hotels and cruise lines are poised for growth as more people get back to some semblance of normal with vaccinations increasing and the pandemic seemingly receding.

The next key economic update is set for Thursday, when the Commerce Department releases its latest GDP report for the first quarter. Economists are expecting a huge rebound in 2021 and results from the beginning of the year will give Wall Street a clearer picture moving forward.

*ASX 200 expected to rise*
The Australian share market looks set to recover some of yesterday’s losses on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 13 points or 0.2% higher this morning. 

This follows a reasonably positive night on Wall Street, which saw the Dow Jones trade flat, the S&P 500 rise 0.19%, and the Nasdaq climb 0.59%.











https://apnews.com/article/asia-hea...mic-business-42ba72158da3fba6cb74d523d5a15e54

*Stocks close modestly higher after choppy day on Wall Street*

By DAMIAN J. TROISE and ALEX VEIGA

A choppy day of trading on Wall Street ended with stocks closing higher Wednesday, reversing much of the S&P 500′s modest pullback the day before.

The benchmark index ended just under 0.2% higher after wavering between small gains and losses. Retailers and other companies that rely on consumer spending made solid gains. Communication and financial stocks also helped lift the market. The S&P 500′s gains were tempered by declines in health care, technology and other stocks.

Smaller company stocks continued to outgain the rest of the market as they’ve done all year. Treasury yields mostly edged higher.

Markets have been bumpy over the last few days as investors move past a stellar corporate earnings season and await additional clues on economic growth and inflation, which has been rising.

“That’s just going to be the state of the market environment for some time to come,” said Kristina Hooper, chief global market strategist at Invesco.

The S&P 500 rose 7.86 points to 4,195.99. The Dow Jones Industrial Average, which turned 125 years old Wednesday, gained 10.59 points, or less than 0.1%, to 34,323.05. The blue-chip index swung between a gain of 97 points and a 41-point slide. The Nasdaq added 80.82 points, or 0.6%, to 13,738. The Russell 2000 index of smaller companies gained 43.52 points, or 2%, to 2,249.27.

The S&P 500 hit an all-time high on May 7th, but then fell for two straight weeks heading into this week. The index is on track for a gain this week of about 1%.

Investors bid up shares in several retailers that delivered strong quarterly report cards. Dick’s Sporting Goods jumped 16.9% after reporting a surge in first-quarter sales and solid earnings as team sports returned. Urban Outfitters rose 10% and Abercrombie & Fitch climbed 7.8% on similarly strong financial results.

Retailers, hotels and cruise lines are poised for growth as more people get back to some semblance of normal with vaccinations increasing and the pandemic seemingly receding.

The next key economic update is set for Thursday, when the Commerce Department releases its latest GDP report for the first quarter. Economists are expecting a huge rebound in 2021 and results from the beginning of the year will give Wall Street a clearer picture moving forward.

The growing economy has also raised inflation concerns, though analysts expect that much of the increase will be tied to economic growth and will be digestible. Concern centers around stronger inflation prompting governments and central banks to roll back economic stimulus and change course on interest rates. Federal Reserve officials have said that they see no need yet to change course.

Bond yields, which rose sharply earlier in the year, remained relatively steady. The yield on the 10-year Treasury rose to 1.58% from 1.56% from late Tuesday.

“Investors need to stop worrying about short-term concerns around The Fed and inflation,” Hooper said. “That’s really creating a lot of the churn we’re seeing.”

Online retail giant Amazon is buying MGM, the movie and TV studio behind James Bond, “Legally Blonde” and “Shark Tank,” with the aim of filling its video streaming service with more shows to watch. The announcement left the stock little changed.

Markets in Europe were mixed and markets in Asia were broadly higher.


----------



## bigdog

*Stocks rise as the economy shows more signs of improvement*

U.S. stock indexes closed mostly higher Thursday following economic reports showing that layoffs are falling and the economy is growing.

The S&P 500 rose 0.1% after giving up most of an earlier gain. The benchmark index is on track for a gain this week of about 1.1%. It hit an all-time high on May 7th but then fell for two straight weeks.

Industrial and financial stocks were among the biggest gainers. General Electric jumped 7.1% for the biggest gain in the S&P 500, while Boeing rose 3.9% and JPMorgan Chase added 1.6%. Those gains were tempered largely by slide in technology companies. Health care and household goods makers also lagged the broader market. Treasury yields and energy prices rose.

Investors were encouraged to see that weekly unemployment claims fell to another pandemic low and that the U.S. economy grew at a solid rate during the first quarter.

“We’re advising investors that if we’re going to get outsized positive economic news, it really supports the extent to which and the speed with which we’re going to see a reopening in the economy,” said Greg Bassuk, founder and CEO of AXS Investments. “And we think stocks are reacting positively to that today.”

The S&P 500 rose 4.89 points to 4,200.88. It had been up 0.4% in the early going. The Dow Jones Industrial Average gained 141.59 points, or 0.4% to 34,464.64. The slide in technology stocks left the Nasdaq essentially flat. The index slipped 1.72 points, or less than 0.1%, to 13,736.28.

In another signal that investors were confident about the economy going forward, the Russell 2000 index of smaller stocks fared better than the broader market, picking up 23.80 points, or 1.1%, to 2,273.07.

Online medical scrubs seller Figs surged 36.5% in its stock market debut, valuing the 8-year old company at $4.8 billion.

Markets have been bumpy over the last few weeks as investors move past a stellar corporate earnings season and await additional clues on economic growth and inflation, which has been rising.

Investors got a mostly positive set of economic reports Thursday. The number of Americans who filed for unemployment benefits fell yet again to a pandemic low of 406,000. A growing number of states, all of them controlled by Republicans, have started cutting off unemployed workers from the $300-a-week jobless benefit that was part of the latest economic recovery package. That’s likely pushing additional Americans into the active labor force.

Meanwhile, there was disappointing data on sales of durable goods, that is expensive items that are expected to last three years or more, fell 1.3% according to the Commerce Department. That figure was expected to rise, according to economists.

ASX 200 expected to rise​The Australian share market looks set to end the week on a solid note. According to the latest SPI futures, the ASX 200 is expected to open the day 54 points or 0.75% this morning. 

This follows a reasonably positive night on Wall Street, which saw the Dow Jones rise 0.41%, the S&P 500 climb 0.12%, and the Nasdaq trade flat.











https://apnews.com/article/financia...logy-economy-0620b351041775df46877af2ff62f77b

*Stocks rise as the economy shows more signs of improvement*

By DAMIAN J. TROISE and ALEX VEIGA

U.S. stock indexes closed mostly higher Thursday following economic reports showing that layoffs are falling and the economy is growing.

The S&P 500 rose 0.1% after giving up most of an earlier gain. The benchmark index is on track for a gain this week of about 1.1%. It hit an all-time high on May 7th but then fell for two straight weeks.

Industrial and financial stocks were among the biggest gainers. General Electric jumped 7.1% for the biggest gain in the S&P 500, while Boeing rose 3.9% and JPMorgan Chase added 1.6%. Those gains were tempered largely by slide in technology companies. Health care and household goods makers also lagged the broader market. Treasury yields and energy prices rose.

Investors were encouraged to see that weekly unemployment claims fell to another pandemic low and that the U.S. economy grew at a solid rate during the first quarter.

“We’re advising investors that if we’re going to get outsized positive economic news, it really supports the extent to which and the speed with which we’re going to see a reopening in the economy,” said Greg Bassuk, founder and CEO of AXS Investments. “And we think stocks are reacting positively to that today.”

The S&P 500 rose 4.89 points to 4,200.88. It had been up 0.4% in the early going. The Dow Jones Industrial Average gained 141.59 points, or 0.4% to 34,464.64. The slide in technology stocks left the Nasdaq essentially flat. The index slipped 1.72 points, or less than 0.1%, to 13,736.28.

In another signal that investors were confident about the economy going forward, the Russell 2000 index of smaller stocks fared better than the broader market, picking up 23.80 points, or 1.1%, to 2,273.07.

Online medical scrubs seller Figs surged 36.5% in its stock market debut, valuing the 8-year old company at $4.8 billion.

Markets have been bumpy over the last few weeks as investors move past a stellar corporate earnings season and await additional clues on economic growth and inflation, which has been rising.

Investors got a mostly positive set of economic reports Thursday. The number of Americans who filed for unemployment benefits fell yet again to a pandemic low of 406,000. A growing number of states, all of them controlled by Republicans, have started cutting off unemployed workers from the $300-a-week jobless benefit that was part of the latest economic recovery package. That’s likely pushing additional Americans into the active labor force.

Meanwhile, there was disappointing data on sales of durable goods, that is expensive items that are expected to last three years or more, fell 1.3% according to the Commerce Department. That figure was expected to rise, according to economists.

Lastly the Commerce Department reported that the U.S. economy grew at a 6.4% annual rate in the first quarter as the economy recovers from the pandemic.

Investors are looking ahead to Friday’s inflation data. The growing economy has raised inflation concerns, though analysts expect that much of the increase will be tied to economic growth and will be digestible.

The data out Friday is the Commerce Department’s personal consumption expenditures index, more commonly referred to as PCE. The Federal Reserve, whose job is to monitor and control inflation as best as they can, tends to rely on PCE data more than the more widely known consumer price index, or CPI, when making policy decisions.

Bond yields have been relatively stable this week, and remained so on Thursday. The 10-year U.S. Treasury note traded at a yield of 1.60%, up from 1.57% the day before. It has remained in this range for the last two weeks.


----------



## bigdog

*U.S. markets will be closed Monday for Memorial Day.

US Stocks Cling to Modest Gains and End the Week Higher*

Stocks held on to modest gains on Wall Street Friday, ending the week higher for the first time in three weeks.

Stocks capped a listless day of trading on Wall Street with modest gains Friday and the S&P 500's first weekly gain in three weeks.

Gains in technology and health care companies outweighed a slide in communications stocks, retailers and elsewhere in the market. The S&P 500 rose 0.1% and notched a 1.2% gain for the week.

The benchmark index closed out the final day of trading in May with a monthly gain of 0.5%. That's the index's fourth straight monthly increase and follows a bumpy few weeks in the markets as investors moved past a stellar corporate earnings season and focused on the tug-of-war between the economic recovery and rising inflation.

Wall Street largely shrugged off a report indicating consumer spending increased last month, the latest economic snapshot to show inflation accelerating in the U.S. economy. Treasury yields fell, including the yield for the benchmark 10-year Treasury. Typically, worries about rising inflation fuel expectations of higher interest rates, which can cause bond yields to rise.

“It’s an indication that inflation is going to be transitory," said Tom Martin, senior portfolio manager with Globalt Investments. "Today was just generally an up day, plus the volumes in the market have been pretty light lately, especially this week.”

The S&P 500 rose 3.23 points to 4,204.11, its third straight gain. The Dow Jones Industrial Average added 64.81 points, or 0.2%, to 34,529.45. The tech-heavy Nasdaq gained 12.46 points, or 0.1%, to 13,748.74.

Smaller company stocks, which have outperformed the broader market this year, fell. The Russell 2000 index lost 4.10 points, or 0.2%, to 2,268.97.

Inflation remains a key concern for investors, particularly if the global economic recovery is hampered if governments and central banks have to withdraw stimulus to combat rising prices. It’s partly why stocks fell two out of the past three weeks. Still, analysts expect any rise in inflation to be tied to the growing economy and will likely be more moderate.

Investors did not react harshly to the latest hotter-than-expected inflation data. The Commerce Department said Friday that personal consumption expenditures, a measure of inflation used by the Federal Reserve, rose by 3.6% in April. Excluding volatile food and energy prices, inflation was still high at 3.1%, and well above the Federal Reserve's long-term target of inflation of around 2%.










https://www.usnews.com/news/busines...s-mostly-higher-on-upbeat-us-jobs-growth-data

*US Stocks Cling to Modest Gains and End the Week Higher*

Stocks held on to modest gains on Wall Street Friday, ending the week higher for the first time in three weeks.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks capped a listless day of trading on Wall Street with modest gains Friday and the S&P 500's first weekly gain in three weeks.

Gains in technology and health care companies outweighed a slide in communications stocks, retailers and elsewhere in the market. The S&P 500 rose 0.1% and notched a 1.2% gain for the week.

The benchmark index closed out the final day of trading in May with a monthly gain of 0.5%. That's the index's fourth straight monthly increase and follows a bumpy few weeks in the markets as investors moved past a stellar corporate earnings season and focused on the tug-of-war between the economic recovery and rising inflation.

Wall Street largely shrugged off a report indicating consumer spending increased last month, the latest economic snapshot to show inflation accelerating in the U.S. economy. Treasury yields fell, including the yield for the benchmark 10-year Treasury. Typically, worries about rising inflation fuel expectations of higher interest rates, which can cause bond yields to rise.

“It’s an indication that inflation is going to be transitory," said Tom Martin, senior portfolio manager with Globalt Investments. "Today was just generally an up day, plus the volumes in the market have been pretty light lately, especially this week.”

The S&P 500 rose 3.23 points to 4,204.11, its third straight gain. The Dow Jones Industrial Average added 64.81 points, or 0.2%, to 34,529.45. The tech-heavy Nasdaq gained 12.46 points, or 0.1%, to 13,748.74.

Smaller company stocks, which have outperformed the broader market this year, fell. The Russell 2000 index lost 4.10 points, or 0.2%, to 2,268.97.

Inflation remains a key concern for investors, particularly if the global economic recovery is hampered if governments and central banks have to withdraw stimulus to combat rising prices. It’s partly why stocks fell two out of the past three weeks. Still, analysts expect any rise in inflation to be tied to the growing economy and will likely be more moderate.

Investors did not react harshly to the latest hotter-than-expected inflation data. The Commerce Department said Friday that personal consumption expenditures, a measure of inflation used by the Federal Reserve, rose by 3.6% in April. Excluding volatile food and energy prices, inflation was still high at 3.1%, and well above the Federal Reserve's long-term target of inflation of around 2%.

Bond yields remained steady on the news, with the 10-year U.S. Treasury note trading at 1.58%, roughly where it's been all week.

“You're not seeing big spikes in rates when inflation data comes out a little high and that's a sign of relief for the markets,” said Jamie Cox, managing partner at Harris Financial Group.

The calm rise of the market this week, steady bond yields, and a lack of a reaction to the latest inflation data signals that investors are less worried about long-term inflation issues than they were a few weeks ago. Investors also got key economic measures of GDP growth and falling unemployment this week.

An uptick in travel for the Memorial Day weekend is another signal that the economic recovery is pushing ahead. More than 1.8 million people went through U.S. airports on Thursday, and the number was widely expected to cross 2 million over the weekend. That would be the highest since early March 2020. AAA expects a 60% jump in travel over the same holiday weekend last year, with 37 million Americans traveling at least 50 miles from home, most of them in cars.

Most policymakers have said they expected some level of inflation as the U.S. economy recovers from the pandemic, helped by trillions of dollars of economic stimulus, however they expect the inflation to be temporary.

The market didn’t have much of a reaction to the White House’s unveiling of President Joe Biden’s proposed $6 trillion budget for next year. The budget, which his piled high with new safety net programs for the poor and middle class, depends on taxing corporations and the wealthy to keep the nation’s spiking debt from spiraling out of control. While only a proposal, the budget would be the highest level of spending as a segment of the economy since World War II.

Democrats control both the House and Senate, and the Senate can pass budget-related items without needing the 60-vote threshold, so it's likely a good number of Biden's items will make it into the final version.

Salesforce.com rose 5.4%, the biggest gain in the S&P 500, after reporting solid results for its latest quarter. Meanwhile, electronics maker HP fell 8.9% for the biggest decline in the S&P 500 after the company issued a weak full-year forecast to investors.

U.S. markets will be closed Monday for Memorial Day.


----------



## bigdog

*U.S. markets will be closed Monday for Memorial Day.*

ASX 200 expected to open slightly higher​
The Australian share market is expected to open the week slightly higher this morning. According to the latest SPI futures, the ASX 200 is expected to open the day 6 points or 0.1% higher. 

This follows a subdued but positive end to the week on Wall Street. The Dow Jones rose 0.2%, the S&P 500 climbed 0.1%, and the Nasdaq edged 0.1% higher.


----------



## bigdog

*U.S. was closed Monday for Memorial Day and also UK market closed

Global stocks mixed after Wall St ends May with gain*

Global stock markets were mixed Monday after Wall Street ended May with a gain and Japan’s factory output grew less than expected.

London opened higher while Frankfurt retreated. Tokyo declined while Shanghai and Hong Kong gained.

Wall Street futures were higher. U.S. markets were closed for a holiday.

Investors are wavering between optimism about consumer spending and factory output reviving and unease that rising inflation might prompt governments and central banks to withdraw stimulus.

“It still feels like a market looking for direction in the face of uncertainty,” said Patrik Schowitz of JP Morgan Asset Management in a report.

In early trading, London’s FTSE 100 was down less than 0.1% at 7,022.61. The DAX in Frankfurt fell 0.2% to 15,485.89 while the CAC 40 in Paris gained less than 0.1% to 6,487.25.

On Wall Street, futures for the benchmark S&P 500 and Dow Jones Industrial Average were up less than 0.1%.

On Friday, the S&P 500 rose 0.1% to end May with a monthly gain of 0.5% after bumpy weeks of selling as investors watched the conflict between economic recovery and rising inflation pressures.

The Dow added 0.2% and the tech-heavy Nasdaq gained 0.1%.

In Asia, the Shanghai Composite Index gained 0.4% to 3,615.48 after an industry group and the national statistics agency reported manufacturing activity held steady in May, adding to signs a rebound is leveling off.

The Nikkei 225 in Tokyo tumbled 1% to 28,860.08 after May retail sales fell 4.5% from the previous month. May factory output rose above pre-pandemic levels for the first time but 2.5% growth was lower than expected.

The Hang Seng in Hong Kong rose less than 0.1% to 29,151.80 while the Kospi in Seoul rose 0.5% to 3,203.92. The S&P-ASX 200 in Sydney was off 0.2% at 7,161.60.

India’s Sensex advanced 1% to 51.965.87. New Zealand, Bangkok and Jakarta gained while Singapore retreated.

The dollar declined to 109.70 Japanese yen from Friday’s 109.81 yen. The euro edged down to $1.2189 from $1.2197.

ASX 200 expected to tumble​The Australian share market looks set to tumble on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 43 points or 0.6% lower.

This is despite the US and UK markets being closed for public holidays. On mainland Europe, the DAX fell 0.6% and the CAC dropped 0.6% following the release of strong inflation data.


*U.S. and UK markets were closed Monday






REST of Market open*









https://apnews.com/article/financial-markets-asia-business-dda76c8f4ff3fbb0ad4e3cf20aa3f798

*Global stocks mixed after Wall St ends May with gain*

By JOE McDONALD

BEIJING (AP) — Global stock markets were mixed Monday after Wall Street ended May with a gain and Japan’s factory output grew less than expected.

London opened higher while Frankfurt retreated. Tokyo declined while Shanghai and Hong Kong gained.

Wall Street futures were higher. U.S. markets were closed for a holiday.

Investors are wavering between optimism about consumer spending and factory output reviving and unease that rising inflation might prompt governments and central banks to withdraw stimulus.

“It still feels like a market looking for direction in the face of uncertainty,” said Patrik Schowitz of JP Morgan Asset Management in a report.

In early trading, London’s FTSE 100 was down less than 0.1% at 7,022.61. The DAX in Frankfurt fell 0.2% to 15,485.89 while the CAC 40 in Paris gained less than 0.1% to 6,487.25.

On Wall Street, futures for the benchmark S&P 500 and Dow Jones Industrial Average were up less than 0.1%.

On Friday, the S&P 500 rose 0.1% to end May with a monthly gain of 0.5% after bumpy weeks of selling as investors watched the conflict between economic recovery and rising inflation pressures.

The Dow added 0.2% and the tech-heavy Nasdaq gained 0.1%.

In Asia, the Shanghai Composite Index gained 0.4% to 3,615.48 after an industry group and the national statistics agency reported manufacturing activity held steady in May, adding to signs a rebound is leveling off.

The Nikkei 225 in Tokyo tumbled 1% to 28,860.08 after May retail sales fell 4.5% from the previous month. May factory output rose above pre-pandemic levels for the first time but 2.5% growth was lower than expected.

The Hang Seng in Hong Kong rose less than 0.1% to 29,151.80 while the Kospi in Seoul rose 0.5% to 3,203.92. The S&P-ASX 200 in Sydney was off 0.2% at 7,161.60.

India’s Sensex advanced 1% to 51.965.87. New Zealand, Bangkok and Jakarta gained while Singapore retreated.

The U.S. Commerce Department said personal consumption expenditures, a measure of inflation used by the Federal Reserve, rose by 3.6% in April. Excluding volatile food and energy prices, inflation was 3.1%, well above the Fed’s long-term target of 2%.

Fed officials said earlier the economy would be allowed to “run hot” to make sure a recovery is established, but investors worry about unexpectedly sharp rises in prices of consumer goods and some commodities. They have been at least temporarily reassured by comments from Fed officials that it is too early to change direction.

In energy markets, benchmark U.S. crude rose 68 cents to $67.00 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 43 cents on Friday to $66.32 per barrel. Brent crude, used to price international oils, added 66 cents to $69.38 per barrel in London. It gained 17 cents the previous session to $69.63.

The dollar declined to 109.70 Japanese yen from Friday’s 109.81 yen. The euro edged down to $1.2189 from $1.2197.


----------



## bigdog

*Stocks end mixed on Wall Street after early gain evaporates*

A wobbly day on Wall Street ended with a mixed finish for the major stock indexes Tuesday as losses in technology and health care companies offset gains elsewhere in the market.

The S&P 500 gave up an early gain, slipping less than 0.1%. That broke a three-day winning streak. The benchmark index had been up 0.7% in the early going. The tech-heavy Nasdaq inched 0.1% lower, while the Dow Jones Industrial Average eked out a 0.1% gain.

The market’s modest moves came as investors returned from a three-day holiday weekend. Traders weighed a new report showing more growth in manufacturing as the coronavirus pandemic wanes in the U.S., but were also looking ahead to the government’s monthly jobs report update on Friday.

Expectations that the upcoming Labor Department report will show a strong increase in hiring in May stoked worries about rising inflation, and how the Federal Reserve may respond to it. That helped push bond yields broadly higher Tuesday, said Quincy Krosby, chief market strategist at Prudential Financial.

“The market will focus on jobs this week and the reason is so will the Fed,” Krosby said. “This is a market that wants to assess or ascertain how the Fed is going to respond to more inflation.”

The S&P 500 dropped 2.07 points to 4,202.04. The index is coming off its fourth straight monthly increase. The Dow gained 45.86 points to 34,575.31, while the Nasdaq fell 12.26 points to 13,736.48. Small-company stocks outpaced the rest of the market. The Russell 2000 index added 25.77 points, or 1.1%, to 2,294.74. U.S. markets were closed Monday for Memorial Day.

Stock trading has been bumpy in recent weeks as investors moved past a stellar corporate earnings season and focused on the tug-of-war between the economic recovery and rising inflation. The concern is that the global recovery could be hampered if governments and central banks have to withdraw stimulus to combat rising prices.

Banks were among the biggest gainers as bond yields ticked higher, which allows them to charge more lucrative interest rates on loans. The yield on the 10-year Treasury rose to 1.61% from 1.58% Friday. Bank of America rose 1.3%.

Energy stocks were the biggest gainers in the S&P 500. Crude oil prices jumped more than 2%, helping to send producers higher. Exxon Mobil rose 3.6%.

“The economy continues to expand, continues to rebound,” Krosby said. “Americans are traveling by car, traveling by air, and that’s reflected in the oil prices.”

ASX 200 expected to Rise​It looks set to be a mildly positive day of trade for the Australian share market on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 11 points or 0.15% higher this morning.

This follows a subdued start to the week on Wall Street following the Memorial Day holiday. The Dow Jones rose 0.13%, the S&P 500 was flat, and the Nasdaq fell 0.09%.











https://apnews.com/article/financial-markets-asia-business-38298ef7a9b4cd55a082e7ca67f7d69f

*Stocks end mixed on Wall Street after early gain evaporates*

By DAMIAN J. TROISE and ALEX VEIGA

A wobbly day on Wall Street ended with a mixed finish for the major stock indexes Tuesday as losses in technology and health care companies offset gains elsewhere in the market.

The S&P 500 gave up an early gain, slipping less than 0.1%. That broke a three-day winning streak. The benchmark index had been up 0.7% in the early going. The tech-heavy Nasdaq inched 0.1% lower, while the Dow Jones Industrial Average eked out a 0.1% gain.

The market’s modest moves came as investors returned from a three-day holiday weekend. Traders weighed a new report showing more growth in manufacturing as the coronavirus pandemic wanes in the U.S., but were also looking ahead to the government’s monthly jobs report update on Friday.

Expectations that the upcoming Labor Department report will show a strong increase in hiring in May stoked worries about rising inflation, and how the Federal Reserve may respond to it. That helped push bond yields broadly higher Tuesday, said Quincy Krosby, chief market strategist at Prudential Financial.

“The market will focus on jobs this week and the reason is so will the Fed,” Krosby said. “This is a market that wants to assess or ascertain how the Fed is going to respond to more inflation.”

The S&P 500 dropped 2.07 points to 4,202.04. The index is coming off its fourth straight monthly increase. The Dow gained 45.86 points to 34,575.31, while the Nasdaq fell 12.26 points to 13,736.48. Small-company stocks outpaced the rest of the market. The Russell 2000 index added 25.77 points, or 1.1%, to 2,294.74. U.S. markets were closed Monday for Memorial Day.

Stock trading has been bumpy in recent weeks as investors moved past a stellar corporate earnings season and focused on the tug-of-war between the economic recovery and rising inflation. The concern is that the global recovery could be hampered if governments and central banks have to withdraw stimulus to combat rising prices.

Banks were among the biggest gainers as bond yields ticked higher, which allows them to charge more lucrative interest rates on loans. The yield on the 10-year Treasury rose to 1.61% from 1.58% Friday. Bank of America rose 1.3%.

Energy stocks were the biggest gainers in the S&P 500. Crude oil prices jumped more than 2%, helping to send producers higher. Exxon Mobil rose 3.6%.

“The economy continues to expand, continues to rebound,” Krosby said. “Americans are traveling by car, traveling by air, and that’s reflected in the oil prices.”

Health care and technology companies fell, checking gains elsewhere in the market. Abbott Laboratories slumped 9.3% for the biggest loss in the S&P 500. Microsoft slid 0.9%.

The Institute for Supply Management reported that manufacturing picked up again in May. The ISM’s manufacturing index came in at 61.2 last month, much better than the 60.6 expected by economists surveyed by FactSet.

The growth in manufacturing came despite supply shortages that have plagued many manufacturers for weeks, particularly those who require semiconductors. It’s the latest piece of economic data that has shown the U.S. economy growing quickly out of the coronavirus pandemic.

AMC Entertainment jumped 22.7% after the movie theater operator announced a stock sale. AMC, whose stock is up more than 1,000% this year, is one of a handful of companies that gained the attention of a group of online retail investors earlier this year, along with companies like GameStop.


----------



## bigdog

*Stocks manage modest gains overall; AMC nearly doubles*

Wall Street wrapped up another wobbly day of trading Wednesday with modest gains for the major stock indexes, as energy and technology companies kept losses elsewhere in the market in check.

The benchmark S&P 500 rose 0.1% after wobbling between a gain of 0.4% and a loss of 0.1%. Strength in technology, energy and real estate stocks offset a pullback in retailers and other companies that rely on consumer spending. Communication, industrial and materials stocks also fell. Treasury yields mostly eased after rising a day earlier.

Movie theater operator AMC Entertainment nearly doubled in another bout of heavy trading as the company embraced its status as a “meme” stock being driven higher by hordes of individual investors. Other stocks like GameStop that have been championed on online message boards and social media also rose.

The market’s modest moves for the second straight day come as investors look ahead to Friday’s U.S. jobs report, which the market hopes will lead to fresh clues about the Federal Reserve’s next interest rate policy moves later this month, when the central bank holds its next meeting of policymakers.

“Payrolls will hopefully help to clarify where the Fed stands,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute. “Until then, it’s going to be hard for the market to find a real direction, with the exception of the small-cap meme stocks.”

The S&P 500 rose 6.08 points to 4,208.12. The index is coming off its fourth straight monthly increase. The Dow Jones Industrial Average gained 25.07 points, or 0.1%, to 34,600.38. The Nasdaq recovered from an early slide, adding 19.85 points, or 0.1%, to 13,756.33.

Small-company stocks also notched modest gains. The Russell 2000 index rose 3.09 points, or 0.1%, to 2,297.83.

ASX 200 expected to rise​The Australian share market looks set to push higher again on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 17 points or 0.25% higher this morning. 

This follows a mildly positive night of trade on Wall Street, which saw the Dow Jones rise 0.07%, the S&P 500 climb 0.14%, and the Nasdaq push 0.14% higher.










https://apnews.com/article/financia...mic-business-94f72a368d1906dba17289c1351ec6fa

*Stocks manage modest gains overall; AMC nearly doubles*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street wrapped up another wobbly day of trading Wednesday with modest gains for the major stock indexes, as energy and technology companies kept losses elsewhere in the market in check.

The benchmark S&P 500 rose 0.1% after wobbling between a gain of 0.4% and a loss of 0.1%. Strength in technology, energy and real estate stocks offset a pullback in retailers and other companies that rely on consumer spending. Communication, industrial and materials stocks also fell. Treasury yields mostly eased after rising a day earlier.

Movie theater operator AMC Entertainment nearly doubled in another bout of heavy trading as the company embraced its status as a “meme” stock being driven higher by hordes of individual investors. Other stocks like GameStop that have been championed on online message boards and social media also rose.

The market’s modest moves for the second straight day come as investors look ahead to Friday’s U.S. jobs report, which the market hopes will lead to fresh clues about the Federal Reserve’s next interest rate policy moves later this month, when the central bank holds its next meeting of policymakers.

“Payrolls will hopefully help to clarify where the Fed stands,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute. “Until then, it’s going to be hard for the market to find a real direction, with the exception of the small-cap meme stocks.”

The S&P 500 rose 6.08 points to 4,208.12. The index is coming off its fourth straight monthly increase. The Dow Jones Industrial Average gained 25.07 points, or 0.1%, to 34,600.38. The Nasdaq recovered from an early slide, adding 19.85 points, or 0.1%, to 13,756.33.

Small-company stocks also notched modest gains. The Russell 2000 index rose 3.09 points, or 0.1%, to 2,297.83.

Economists are projecting that Friday’s Labor Department report will show employers added more than 650,000 jobs last month. Expectations of a strong increase in hiring have stoked worries about inflation and how the Fed may respond to it. The concern is that the global recovery could be hampered if governments and central banks have to withdraw stimulus to combat rising prices.

Bond yields edged lower. The yield on the 10-year Treasury note slipped to 1.59% from 1.61% late Tuesday.

Technology companies did much of the heavy lifting for the S&P 500. Chipmaker Nvidia rose 3.2%. Payments processor Visa gained 1.3% after giving investors an encouraging financial update.

Energy companies also made broad gains as oil prices ticked more than 1% higher. Occidental Petroleum rose 2.7% and Schlumberger led all S&P 500 stocks with a 7.7% gain.

Etsy jumped 7.1% for one of the biggest gains in the S&P 500 after the online crafts marketplace said it will buy Depop, an app that’s popular among young people looking to buy and sell used clothing and vintage fashions from the early 2000s.


----------



## bigdog

*Stocks end lower on Wall Street; AMC sinks after stock sale*

Technology companies helped drag stocks lower on Wall Street Thursday, knocking the S&P 500 into the red for the week.

The benchmark S&P 500 index dropped 0.4% and is now on track for a 0.3% weekly loss. Technology companies, whose pricey valuations make them more sensitive to inflation fears, were the biggest weight on the market. Microsoft fell 0.6% and Apple lost 1.2%.

Retailers, hotel operators and a variety of other companies that rely on direct consumer spending also posted some of the biggest declines, as did communications companies. Etsy slid 5.4%, Tesla dropped 5.3%, Wynn Resorts fell 4.1% and Facebook lost 0.9%. Banks and health care companies rose.

The selling came as investors weighed the latest economic reports showing that unemployment claims are falling but labor costs are rising. Traders were also looking ahead to the government’s latest monthly jobs report Friday, which could provide more clarity on the economic recovery and the potential for higher inflation.

“There’s less conviction about what the jobs report may be, so you’re seeing the markets move a little sideways here,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. “We’ve gotten all these fantastic growth numbers, and now we’ve got to look past that and look toward the future at the actual growth beyond the pandemic, and people are just trying to get a handle on what that may look like.”

The S&P 500 fell 15.27 points to 4,192.85. The Dow Jones Industrial Average dropped 23.34 points, or 0.1%, to 34,577.04. The tech-heavy Nasdaq lost 141.82 points, or 1%, to 13,614.51. The Russell 2000 index of smaller companies gave up 18.59 points, or 0.8%, to 2,279.25.

Bond yields rose. The yield on the 10-year Treasury rose to 1.63% from 1.59% late Wednesday.

Markets have been wobbly all week as investors closely watch the labor markets for more signs of economic growth and consider any information that could give more clues about rising inflation. Labor costs rose at a 1.7% rate in the first quarter, up from the initial estimate that costs had fallen 0.3%. That could stoke more fears that inflation might run hotter than expected.

Rising inflation is expected as the economy recovers from the pandemic’s impact, but the key question for many on Wall Street is whether it will be temporary or more permanent.

“The main concern in the markets, rightfully so, is inflation,” said Cliff Hodge, chief investment officer for Cornerstone Wealth. “Data points are beginning to confirm the view that inflation is likely to be more sticky.”

Wall Street will get more detailed data on the labor market Friday when the Labor Department releases its monthly jobs report. Economists are projecting that it will show employers added 650,000 jobs in May.

Expectations of a strong increase in hiring have stoked worries about inflation and how the Fed may respond to it. The concern is that the global recovery could be hampered if governments and central banks have to withdraw stimulus to combat rising prices.

ASX 200 expected to edge higher​The Australian share market looks set to end the week on a subdued note. According to the latest SPI futures, the ASX 200 is expected to open the day 3 points higher this morning.

This follows a poor night of trade on Wall Street, which saw the Dow Jones fall 0.07%, the S&P 500 drop 0.36%, and the Nasdaq tumble 1.03% lower.










https://apnews.com/article/financia...ogy-business-8b2cd7449bf207881f958e439d0571a4

*Stocks end lower on Wall Street; AMC sinks after stock sale*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies helped drag stocks lower on Wall Street Thursday, knocking the S&P 500 into the red for the week.

The benchmark S&P 500 index dropped 0.4% and is now on track for a 0.3% weekly loss. Technology companies, whose pricey valuations make them more sensitive to inflation fears, were the biggest weight on the market. Microsoft fell 0.6% and Apple lost 1.2%.

Retailers, hotel operators and a variety of other companies that rely on direct consumer spending also posted some of the biggest declines, as did communications companies. Etsy slid 5.4%, Tesla dropped 5.3%, Wynn Resorts fell 4.1% and Facebook lost 0.9%. Banks and health care companies rose.

The selling came as investors weighed the latest economic reports showing that unemployment claims are falling but labor costs are rising. Traders were also looking ahead to the government’s latest monthly jobs report Friday, which could provide more clarity on the economic recovery and the potential for higher inflation.

“There’s less conviction about what the jobs report may be, so you’re seeing the markets move a little sideways here,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. “We’ve gotten all these fantastic growth numbers, and now we’ve got to look past that and look toward the future at the actual growth beyond the pandemic, and people are just trying to get a handle on what that may look like.”

The S&P 500 fell 15.27 points to 4,192.85. The Dow Jones Industrial Average dropped 23.34 points, or 0.1%, to 34,577.04. The tech-heavy Nasdaq lost 141.82 points, or 1%, to 13,614.51. The Russell 2000 index of smaller companies gave up 18.59 points, or 0.8%, to 2,279.25.

Bond yields rose. The yield on the 10-year Treasury rose to 1.63% from 1.59% late Wednesday.

Markets have been wobbly all week as investors closely watch the labor markets for more signs of economic growth and consider any information that could give more clues about rising inflation. Labor costs rose at a 1.7% rate in the first quarter, up from the initial estimate that costs had fallen 0.3%. That could stoke more fears that inflation might run hotter than expected.

Rising inflation is expected as the economy recovers from the pandemic’s impact, but the key question for many on Wall Street is whether it will be temporary or more permanent.

“The main concern in the markets, rightfully so, is inflation,” said Cliff Hodge, chief investment officer for Cornerstone Wealth. “Data points are beginning to confirm the view that inflation is likely to be more sticky.”

Wall Street will get more detailed data on the labor market Friday when the Labor Department releases its monthly jobs report. Economists are projecting that it will show employers added 650,000 jobs in May.

Expectations of a strong increase in hiring have stoked worries about inflation and how the Fed may respond to it. The concern is that the global recovery could be hampered if governments and central banks have to withdraw stimulus to combat rising prices.

Inflation worries are also butting up against the recovery seemingly shifting from a sharp rebound to a grind, which could mean more choppiness as the economy adjusts.

“When the rubber meets the road with the realities of reopening, we think we could be in for a rocky period,” Hodge said.

AMC Entertainment slumped 17.9%, shedding gains from a brief rally, after the movie theater operator’s announcement that it would sell more shares following a huge run-up in its stock price on a surge of interest from individual investors. The stock is still up about 2,300% this year.

General Motors jumped 6.4% after saying it expects earnings in the first half of the year to exceed its earlier forecasts as its efforts to manage a global computer chip shortage have worked better than expected. Rival Ford Motor climbed 7.2% for the biggest gain in the S&P 500.

European and Asian markets closed mixed.


----------



## bigdog

*Stocks end the week higher as US jobs report calms Fed fears*

Wall Street closed out a week of mostly choppy trading with broad gains Friday, pushing the S&P 500 to its second straight weekly gain.

The S&P 500 rose 0.9% and finished with a 0.6% gain for the week. Technology stocks were biggest gainers and did the most to drive the broader market higher. Microsoft rose 2.1% and Apple added 1.9%. Communication stocks and companies that rely on consumer spending also made solid gains. Only utilities closed lower.

The rally followed a Labor Department report showing U.S. employers added 559,000 jobs in May. That’s an improvement from April’s sluggish gain, but short of economists’ forecasts. Still, the lower-than-expected increase in jobs may have opened the door for the Federal Reserve to keep the accelerator floored on its efforts to support the economy, which include monthly bond purchases to keep interest rates low.

“When you see employment numbers like we saw today, which were slightly disappointing, that would give market participants confidence that the Fed will stay on track and keep rates lower for a longer period of time,” said Clinton Warren, global investment specialist at J.P. Morgan Private Bank. “The market is saying ’OK, the Fed is going to keep rates lower, that’s good for the stock market, it’s good for risk asset classes, and that’s what’s driving the market higher today.”

The S&P 500 rose 37.04 points to 4,229.89. The Dow Jones Industrial Average gained 179.35 points, or 0.5%, to 34,756.39. The rally in technology stocks helped push the Nasdaq to a solid gain. The tech-heavy index climbed 199.98 points, or 1.5%, to 13,814.49.

Smaller company stocks also notched gains. The Russell 2000 added 7.16 points, or 0.3%, to 2,286.41.

The pickup in jobs last month is another sign that the economy continues to recover, even as employment remains relatively shaky and struggling to get back to pre-pandemic levels.










https://apnews.com/article/financia...rus-pandemic-d2347e1fa16e0be85a5a9ff91427ac5e

*Stocks end the week higher as US jobs report calms Fed fears*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street closed out a week of mostly choppy trading with broad gains Friday, pushing the S&P 500 to its second straight weekly gain.

The S&P 500 rose 0.9% and finished with a 0.6% gain for the week. Technology stocks were biggest gainers and did the most to drive the broader market higher. Microsoft rose 2.1% and Apple added 1.9%. Communication stocks and companies that rely on consumer spending also made solid gains. Only utilities closed lower.

The rally followed a Labor Department report showing U.S. employers added 559,000 jobs in May. That’s an improvement from April’s sluggish gain, but short of economists’ forecasts. Still, the lower-than-expected increase in jobs may have opened the door for the Federal Reserve to keep the accelerator floored on its efforts to support the economy, which include monthly bond purchases to keep interest rates low.

“When you see employment numbers like we saw today, which were slightly disappointing, that would give market participants confidence that the Fed will stay on track and keep rates lower for a longer period of time,” said Clinton Warren, global investment specialist at J.P. Morgan Private Bank. “The market is saying ’OK, the Fed is going to keep rates lower, that’s good for the stock market, it’s good for risk asset classes, and that’s what’s driving the market higher today.”

The S&P 500 rose 37.04 points to 4,229.89. The Dow Jones Industrial Average gained 179.35 points, or 0.5%, to 34,756.39. The rally in technology stocks helped push the Nasdaq to a solid gain. The tech-heavy index climbed 199.98 points, or 1.5%, to 13,814.49.

Smaller company stocks also notched gains. The Russell 2000 added 7.16 points, or 0.3%, to 2,286.41.

The pickup in jobs last month is another sign that the economy continues to recover, even as employment remains relatively shaky and struggling to get back to pre-pandemic levels.

The jobs report showed that companies are still struggling to find enough workers as the economy rapidly recovers from the recession caused by the pandemic. People are either looking for better jobs than they had before the pandemic, retiring early, worried about child care or otherwise taking time on the sidelines from the job market.

“There are still seasonal issues,” said Liz Ann Sonders, chief investment strategist at Charles Schwab. There is, she said, a “disconnect between job openings, which have been incredibly robust, and the desire or willingness to go back to work.”

Bond yields fell. The yield on the 10-year Treasury slipped to 1.55% from 1.62% late Thursday. The dip helped push tech stocks higher. Lower interest rates help stocks generally because they can steer some investors away from bonds that are paying little in interest toward riskier investments. Stocks that look the most expensive based on their earnings, such as technology companies, can be among the biggest beneficiaries.

Investors have been worried about rising inflation becoming a long-term issue, rather than the temporary effect from the recovering economy. They are also worried that The Fed could consider pulling its support for the economy if inflation runs too hot.

Inflation has already burst higher across the economy, with prices rising for everything from used automobiles to restaurant meals. Employers are also finding it harder to attract employees, which could force them to raise wages, also adding to inflation.

The contrast between signs of higher inflation and a still-recovering labor market has made it difficult for investors to get a read on what the Fed will do next.

“That’s why the market has been constrained in such a tight band of turns over the last, not only week, but throughout this whole year,” Warren said.


----------



## bigdog

ASX 200 expected to rise​
The Australian share market is expected to open the week slightly higher this morning. According to the latest SPI futures, the ASX 200 is expected to open the day 7 points or 0.1% higher. 

This follows a positive end to the week on Wall Street, which saw the Dow Jones rise 0.5%, the S&P 500 climb 0.9%, and the Nasdaq storm 1.5% higher.


----------



## bigdog

*US stocks claw back much of an early loss and finish mixed*

Stocks gave up some of their recent gains Monday, though the selling eased toward the end of the day, leaving the major indexes mixed.

The S&P 500 slipped less than 0.1% after having been down 0.3% in the early going. The benchmark index, which is coming off two straight weekly gains, is within 0.2% of the all-time high it reached a month ago.

The Dow Jones Industrial Average also closed lower, while the Nasdaq notched a modest gain. Small-company stocks far outpaced the rest of the market.

The quiet opening to the week follows several choppy weeks as investors continue to gauge the economy’s recovery and the risks of rising inflation. Wall Street faces a relatively light week of economic data, though investors will get more information on how much consumer prices rose last month on Thursday.

“The market is treading water right now and waiting for another catalyst to move higher,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 fell 3.37 points to 4,226.52. The Dow lost 126.15 points, or 0.4%, to 34,630.24. The Nasdaq rose 67.23 points, or 0.5%, to 13,881.72. The Russell 2000 index of smaller companies gained 32.76 points, or 1.4%, to 2,319.18.

Banks, industrial stocks and materials companies helped pull the broader market lower. Communications companies and health care stocks made solid gains. Facebook rose 1.9%, while drugmaker Moderna rose 6.6% after it sought regulatory authorization in Europe to let adolescents receive its COVID-19 vaccine.

Biogen soared 38.3% for the biggest gain in the S&P 500 after the Food and Drug Administration said it approved the company’s drug for treating Alzheimer’s disease. Biogen’s drug is the first Alzheimer’s disease treatment approved by the FDA in nearly 20 years.

Treasury yields mostly rose. The yield on the 10-year Treasury inched up to 1.57% from 1.56% late Friday. Crude oil prices were little changed.

ASX 200 futures flat​The Australian share market looks set to have another subdued day on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day flat. 

This follows a mixed start to the week on Wall Street, which saw the Dow Jones fall 0.36%, the S&P 500 drop 0.08%, and the Nasdaq push 0.49% higher.











https://apnews.com/article/financia...mic-business-49dde4530360706a417e0d447764cfd7

*US stocks claw back much of an early loss and finish mixed*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks gave up some of their recent gains Monday, though the selling eased toward the end of the day, leaving the major indexes mixed.

The S&P 500 slipped less than 0.1% after having been down 0.3% in the early going. The benchmark index, which is coming off two straight weekly gains, is within 0.2% of the all-time high it reached a month ago.

The Dow Jones Industrial Average also closed lower, while the Nasdaq notched a modest gain. Small-company stocks far outpaced the rest of the market.

The quiet opening to the week follows several choppy weeks as investors continue to gauge the economy’s recovery and the risks of rising inflation. Wall Street faces a relatively light week of economic data, though investors will get more information on how much consumer prices rose last month on Thursday.

“The market is treading water right now and waiting for another catalyst to move higher,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 fell 3.37 points to 4,226.52. The Dow lost 126.15 points, or 0.4%, to 34,630.24. The Nasdaq rose 67.23 points, or 0.5%, to 13,881.72. The Russell 2000 index of smaller companies gained 32.76 points, or 1.4%, to 2,319.18.

Banks, industrial stocks and materials companies helped pull the broader market lower. Communications companies and health care stocks made solid gains. Facebook rose 1.9%, while drugmaker Moderna rose 6.6% after it sought regulatory authorization in Europe to let adolescents receive its COVID-19 vaccine.

Biogen soared 38.3% for the biggest gain in the S&P 500 after the Food and Drug Administration said it approved the company’s drug for treating Alzheimer’s disease. Biogen’s drug is the first Alzheimer’s disease treatment approved by the FDA in nearly 20 years.

Treasury yields mostly rose. The yield on the 10-year Treasury inched up to 1.57% from 1.56% late Friday. Crude oil prices were little changed.

Cruise line operators rose after several companies announced or confirmed plans to start sailing again this summer. The industry essentially shut down during the virus pandemic. Norwegian Cruise Line added 3.1% and Carnival rose 1.1%.

Corporate buyout plans moved several stocks. U.S. Concrete jumped 29.3% after construction materials company Vulcan Materials said it would buy the company. Design software company Autodesk fell 2.1% after announcing plans to pursue a buyout of Altium.

Investors will get another glimpse into the impact of inflation on Thursday with the Labor Department’s consumer price report for May. Prices on everything from food to clothes and housing has been rising as the economy recovers.

Investors and economists are concerned that a steep rise in prices could crimp the recovery and prompt the Federal Reserve to withdraw some of its support for the economy such as keeping interest rates ultra-low and buying bonds.

Markets in Europe closed mostly higher, while Asian markets ended mixed.


----------



## bigdog

*Stocks end mostly higher; Wendy’s becomes latest meme stock*

U.S. stock indexes meandered to another uneven finish Tuesday after spending much of the day swaying between small gains and losses. The modest moves reflect a wait-and-see attitude among investors amid a light week of earnings and new economic data, though some corners of the market — cryptocurrencies and some social media-hyped stocks — kept traders busy.

The S&P 500 inched up less than 0.1% after earlier veering between a loss of 0.4% and a gain of 0.2%. The benchmark index has barely moved the last two days after notching two straight weekly gains. The Dow Jones Industrial Average slipped 0.1%, while the Nasdaq mustered a 0.3% gain. Smaller company stocks once again outpaced the broader market.

The S&P 500 remains close to its May 7th all-time high, but has not been able to climb higher.

“We haven’t moved materially lower, probably because right now there aren’t a lot of catalysts to move the market one way or the other,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management.

The S&P 500 added 0.74 points to 4,227.26. The Dow slipped 30.42 points to 34,599.82. The Nasdaq gained 43.19 points to 13,924.91. The Russell 2000 index of smaller companies rose 24.58 points, or 1.1%, to 2,343.76.

A variety of companies that rely on direct consumer spending made solid gains. Domino’s Pizza rose 1.2% and Gap gained 2.9%. Industrial stocks also ticked higher. Energy companies rose along with the price of crude oil.

Those gains were kept in check by falling health care and communication stocks. Banks fell, weighed down as bond yields slipped. The yield on the 10-year Treasury fell to 1.54% from 1.57% late Monday.

Elsewhere in the market, Wendy’s jumped 25.9% as it seemingly joined a list of companies that have gained the attention of individual investors taking their cues from social media forums. Clover Health Investments soared 85.8%. Other companies that have seen their stock values soar and fall sporadically include AMC Entertainment, Blackberry and GameStop.

Investors have been navigating a choppy market as they digest information on how the economy is recovering. The World Bank upgraded its outlook for global growth this year, predicting that COVID-19 vaccinations and massive government stimulus in rich countries will power the fastest worldwide expansion in nearly five decades. The 189-country anti-poverty agency forecasts that the world economy will grow 5.6% this year, up from the 4.1% it forecast in January. The global economy last year shrank 3.5%.

ASX 200 expected to rise​It looks set to be a positive day of trade for the Australian share market on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 19 points or 0.25% higher this morning. 

This follows a reasonably positive night of trade on Wall Street, which saw the Dow Jones down 0.09%; the S&P 500 up 0.02% and the Nasdaq rise 0.31%.










https://apnews.com/article/financia...mic-business-2e82954726f653216700bcc5abaee764

*Stocks end mostly higher; Wendy’s becomes latest meme stock*

By DAMIAN J. TROISE and ALEX VEIGA

U.S. stock indexes meandered to another uneven finish Tuesday after spending much of the day swaying between small gains and losses. The modest moves reflect a wait-and-see attitude among investors amid a light week of earnings and new economic data, though some corners of the market — cryptocurrencies and some social media-hyped stocks — kept traders busy.

The S&P 500 inched up less than 0.1% after earlier veering between a loss of 0.4% and a gain of 0.2%. The benchmark index has barely moved the last two days after notching two straight weekly gains. The Dow Jones Industrial Average slipped 0.1%, while the Nasdaq mustered a 0.3% gain. Smaller company stocks once again outpaced the broader market.

The S&P 500 remains close to its May 7th all-time high, but has not been able to climb higher.

“We haven’t moved materially lower, probably because right now there aren’t a lot of catalysts to move the market one way or the other,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management.

The S&P 500 added 0.74 points to 4,227.26. The Dow slipped 30.42 points to 34,599.82. The Nasdaq gained 43.19 points to 13,924.91. The Russell 2000 index of smaller companies rose 24.58 points, or 1.1%, to 2,343.76.

A variety of companies that rely on direct consumer spending made solid gains. Domino’s Pizza rose 1.2% and Gap gained 2.9%. Industrial stocks also ticked higher. Energy companies rose along with the price of crude oil.

Those gains were kept in check by falling health care and communication stocks. Banks fell, weighed down as bond yields slipped. The yield on the 10-year Treasury fell to 1.54% from 1.57% late Monday.

Elsewhere in the market, Wendy’s jumped 25.9% as it seemingly joined a list of companies that have gained the attention of individual investors taking their cues from social media forums. Clover Health Investments soared 85.8%. Other companies that have seen their stock values soar and fall sporadically include AMC Entertainment, Blackberry and GameStop.

Cryptocurrency traders appeared to be in a selling mood. Bitcoin and other popular digital currencies, including Ethereum and Dogecoin, all fell sharply, according to Coindesk. Bitcoin, which climbed above $60,000 early this year, slid 7% to $32,690.

The stock of Fastly, an internet cloud services provider, climbed 10.8% after the company said it had addressed an internal problem that caused dozens of websites around the globe to go down briefly, including the home page of Britain’s government and The New York Times.

Investors have been navigating a choppy market as they digest information on how the economy is recovering. The World Bank upgraded its outlook for global growth this year, predicting that COVID-19 vaccinations and massive government stimulus in rich countries will power the fastest worldwide expansion in nearly five decades. The 189-country anti-poverty agency forecasts that the world economy will grow 5.6% this year, up from the 4.1% it forecast in January. The global economy last year shrank 3.5%.

The upbeat forecasts for growth and greater demand from consumers have raised concerns about rising inflation. Investors have been trying to gauge whether the increase will be temporary and tied to the recovery or will run hot and become a more permanent fixture of the post-pandemic economy. The path of inflation could determine whether central banks continue to generously support economies or pull back.

The economy is still being distorted by the pandemic and its aftermath. Factories are still ramping up production, but it’s simply not quick enough to meet demand for a wide range of goods as people move past the pandemic. That has resulted in prices on everything from food to household staples rising.

“Right now it’s just too many consumers taking too few goods,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors.


----------



## bigdog

*US indexes end lower; more volatility for online favorites*

A slide in banks and industrial companies nudged stocks on Wall Street to modest losses Wednesday after an early gain faded in the last half-hour of trading. Stocks championed by hordes of online retail investors, the “meme” stocks as they have become known, were volatile once again.

The S&P 500 slipped 0.2%, erasing its meager gain from a day earlier. The benchmark index’s modest moves this week have it on track for its first weekly loss in three weeks. The Dow Jones Industrial Average gave up 0.4%, while the Nasdaq held up somewhat better, ending down just 0.1%.

Treasury yields slipped. The yield on the 10-year Treasury fell to 1.49% from 1.52% late Tuesday. The falling yields broadly weighed down banks, which rely on higher yields to charge more lucrative interest on loans. JPMorgan and Citigroup fell 1.2%.

Several health care companies made solid gains. Merck rose 2.3% after announcing a supply agreement with the U.S. and Canada for a potential COVID-19 treatment. AbbVie gained 1.5% after announcing a collaboration with Caraway Therapeutics to make treatments for Parkinson’s disease and other neurodegenerative disorders.

All told, the S&P 500 fell 7.71 points to 4,219.55. The Dow lost 152.68 points to 34,447.14, while the Nasdaq Composite gave up an early gain, shedding 13.16 points to 13,911.75. The tech-heavy index was lifted by the same Big Tech companies that have pushed it generally higher for the last 18 months. Microsoft rose 0.4% and Amazon added 0.5%.

Small company stocks, which have outgained the broader market this year, also fell. The Russell 2000 index gave up 16.63 points, or 0.7%, to 2,327.13.

Investors continue to focus a significant amount of attention on inflation. China’s producer price index, which measures prices of raw goods and services, jumped 9% from a year earlier in May, the fastest increase since 2008 and above analysts’ forecasts. Surging prices for oil and other commodities and manufacturing components such as semiconductors were the main factor behind the jump in producer prices there.

*ASX 200 expected to fall*

The Australian share market looks set to extend its decline on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 8 points or 0.1% lower this morning. 

This follows a poor night of trade on Wall Street, which saw the Dow Jones fall 0.44%, the S&P 500 drop 0.18%, and the Nasdaq edge 0.09% lower.











https://apnews.com/article/financia...rus-pandemic-f79790f17ac242e9351e571a79147ca6

*US indexes end lower; more volatility for online favorites*

By DAMIAN J. TROISE and ALEX VEIGA

A slide in banks and industrial companies nudged stocks on Wall Street to modest losses Wednesday after an early gain faded in the last half-hour of trading. Stocks championed by hordes of online retail investors, the “meme” stocks as they have become known, were volatile once again.

The S&P 500 slipped 0.2%, erasing its meager gain from a day earlier. The benchmark index’s modest moves this week have it on track for its first weekly loss in three weeks. The Dow Jones Industrial Average gave up 0.4%, while the Nasdaq held up somewhat better, ending down just 0.1%.

Treasury yields slipped. The yield on the 10-year Treasury fell to 1.49% from 1.52% late Tuesday. The falling yields broadly weighed down banks, which rely on higher yields to charge more lucrative interest on loans. JPMorgan and Citigroup fell 1.2%.

Several health care companies made solid gains. Merck rose 2.3% after announcing a supply agreement with the U.S. and Canada for a potential COVID-19 treatment. AbbVie gained 1.5% after announcing a collaboration with Caraway Therapeutics to make treatments for Parkinson’s disease and other neurodegenerative disorders.

All told, the S&P 500 fell 7.71 points to 4,219.55. The Dow lost 152.68 points to 34,447.14, while the Nasdaq Composite gave up an early gain, shedding 13.16 points to 13,911.75. The tech-heavy index was lifted by the same Big Tech companies that have pushed it generally higher for the last 18 months. Microsoft rose 0.4% and Amazon added 0.5%.

Small company stocks, which have outgained the broader market this year, also fell. The Russell 2000 index gave up 16.63 points, or 0.7%, to 2,327.13.

Investors continue to focus a significant amount of attention on inflation. China’s producer price index, which measures prices of raw goods and services, jumped 9% from a year earlier in May, the fastest increase since 2008 and above analysts’ forecasts. Surging prices for oil and other commodities and manufacturing components such as semiconductors were the main factor behind the jump in producer prices there.

Aside from surging prices of raw materials, fuel and other items needed for manufacturing, factories are struggling to keep up with demand as the pandemic recedes in many places. That has pushed up prices of everything from food to household staples.

Investors will get closely watched U.S. inflation data on Thursday and how it might impact ultra-low interest rates and other market-supporting policies.

The market has been relatively constrained over the last several days and investors have parsed any data to judge whether rising inflation will be temporary, as the Federal Reserve thinks, or more permanent.

The Labor Department’s release of the consumer price index Thursday will add to that discussion, particularly since it comes shortly before the Federal Reserve’s next meeting on interest rate policy next week.

“Is it transitory, or is the Fed behind the curve?” said Sal Bruno, chief investment officer at IndexIQ. “That is going to be a lot of the discussion tomorrow with people reading into which way we’re going.”

Elsewhere in the market, volatility in stocks embraced by investors using online forums like Reddit continued for another day Wednesday. Clover Health fell 23.6% while AMC Entertainment sank 10.4%. Wendy’s sank 12.7% after soaring 25.9% a day earlier.

The original “meme” stock, GameStop, said after the closing bell Wednesday that it has brought on a pair of Amazon veterans as its new chief executive and chief financial officer to aid in its much anticipated digital turnaround. The company also reported a smaller quarterly loss than a year ago as revenue increased. Its shares fell 3% in after-hours trading.


----------



## bigdog

*US stocks end higher, erasing weekly loss for the S&P 500*

Health care and technology companies helped drive stocks higher Thursday, bringing the S&P 500 index to a record high and out of the red for the week.

The benchmark index rose 0.5%, and is on track for its third straight weekly gain. Bond yields initially rose, then mostly fell after a much-anticipated report showing a big jump in inflation last month.

The Labor Department said consumer prices jumped 5% in May, the biggest year-over-year increase since 2008. The figure was higher than the 4.6% rise that economists had expected.

While investors have been concerned about inflation for weeks, the May report seemed to reinforce the growing consensus that any increase in inflation will be temporary. A significant portion of the rise in consumer prices was tied to the sale of used cars, for example, which is largely attributed to the fact that many rental car companies are buying vehicles to beef up their fleets as people return to traveling.

“Keep in mind that as we start to make our way back to a full economic recovery, there is pent up demand and supply constraints from raw material and labor shortages,” said Mike Loewengart, a managing director at E-Trade Financial. “This creates the type of inflation that the Fed believes is transitory, meaning it too shall pass. Whether or not they are correct remains to be seen.”

The S&P 500 gained 19.63 points to 4,239.18, just beating the index’s previous all-time high set on May 7th. The Dow Jones Industrial Average edged up 19.10 points, or 0.1%, to 34,466.24. The Nasdaq Composite rose 108.58 points, or 0.8%, to 14,020.33.

Smaller company stocks lagged the broader market. The Russell 2000 index fell 15.72 points, or 0.7%, to 2,311.41.

Bond yields initially rose after the inflation data, then fell broadly by late afternoon. The yield on the 10-year Treasury note slipped to 1.45% from 1.49% late Wednesday.

Organon jumped 6.6% for the biggest gain in the S&P 500 and Pfizer rose 2.2% as health care stocks led the market higher. Technology and communication stocks also rose. Microsoft gained 1.4% and Activision Blizzard added 1.2%. Banks, industrial and materials companies were among the decliners. JPMorgan slid 1.6%, while Caterpillar dropped 3.8%. Vulcan Materials fell 3.1%.

Investors also reacted positively to more data that showed continued improvement in the labor market. The number of Americans who filed for unemployment benefits last week fell by 9,000 to 376,000, another pandemic low.

Stocks have been meandering all week as investors looked ahead to another inflation snapshot. The worry is that if signs of inflation are more than transitory, as the Federal Reserve has suggested, it could prompt central banks to withdraw stimulus from the economy to combat rising prices.

*ASX 200 expected to edge higher*

The Australian share market looks set to end the week on a positive but subdued note. According to the latest SPI futures, the ASX 200 is expected to open the day 3 points higher this morning. 

This follows a strong night of trade on Wall Street, which saw the Dow Jones edge higher 0.06%, the S&P 500 rise 0.47%, and the Nasdaq jump 0.78%.









https://apnews.com/article/financia...ion-business-c24ff2bb1a7955a3327b2a723ae9db25

*US stocks end higher, erasing weekly loss for the S&P 500*

By ALEX VEIGA

Health care and technology companies helped drive stocks higher Thursday, bringing the S&P 500 index to a record high and out of the red for the week.

The benchmark index rose 0.5%, and is on track for its third straight weekly gain. Bond yields initially rose, then mostly fell after a much-anticipated report showing a big jump in inflation last month.

The Labor Department said consumer prices jumped 5% in May, the biggest year-over-year increase since 2008. The figure was higher than the 4.6% rise that economists had expected.

While investors have been concerned about inflation for weeks, the May report seemed to reinforce the growing consensus that any increase in inflation will be temporary. A significant portion of the rise in consumer prices was tied to the sale of used cars, for example, which is largely attributed to the fact that many rental car companies are buying vehicles to beef up their fleets as people return to traveling.

“Keep in mind that as we start to make our way back to a full economic recovery, there is pent up demand and supply constraints from raw material and labor shortages,” said Mike Loewengart, a managing director at E-Trade Financial. “This creates the type of inflation that the Fed believes is transitory, meaning it too shall pass. Whether or not they are correct remains to be seen.”

The S&P 500 gained 19.63 points to 4,239.18, just beating the index’s previous all-time high set on May 7th. The Dow Jones Industrial Average edged up 19.10 points, or 0.1%, to 34,466.24. The Nasdaq Composite rose 108.58 points, or 0.8%, to 14,020.33.

Smaller company stocks lagged the broader market. The Russell 2000 index fell 15.72 points, or 0.7%, to 2,311.41.

Bond yields initially rose after the inflation data, then fell broadly by late afternoon. The yield on the 10-year Treasury note slipped to 1.45% from 1.49% late Wednesday.

Organon jumped 6.6% for the biggest gain in the S&P 500 and Pfizer rose 2.2% as health care stocks led the market higher. Technology and communication stocks also rose. Microsoft gained 1.4% and Activision Blizzard added 1.2%. Banks, industrial and materials companies were among the decliners. JPMorgan slid 1.6%, while Caterpillar dropped 3.8%. Vulcan Materials fell 3.1%.

Investors also reacted positively to more data that showed continued improvement in the labor market. The number of Americans who filed for unemployment benefits last week fell by 9,000 to 376,000, another pandemic low.

Stocks have been meandering all week as investors looked ahead to another inflation snapshot. The worry is that if signs of inflation are more than transitory, as the Federal Reserve has suggested, it could prompt central banks to withdraw stimulus from the economy to combat rising prices.

“The inflation outlook has rightfully been top of mind since last month’s blowout report,” Ryan Detrick, market strategist at LPL Financial wrote in a research note. “Under the hood, though, we think the picture is a bit more sanguine than the headlines would suggest, and still believe inflation will be relatively well-contained over the intermediate-to-long term.”

Investors will get to see next week how the Fed is reading the latest inflation barometer and what monetary policy changes, if any, the central bank may consider. The Fed’s policymaking committee is due to deliver its latest economic and interest rate policy update next Wednesday.

Markets will also be tuning in this weekend for any developments at the summit of the Group of Seven in Britain. At the top of the leaders’ agenda is helping countries recover from the coronavirus pandemic, which has killed more than 3.7 million people and wrecked economies.

The G-7 leaders are meeting for three days at a British seaside resort. It’s the first such gathering since before the pandemic.


----------



## bigdog

*Stocks notch modest gains and a 3rd winning week for S&P 500*

Wall Street closed out a mostly listless week Friday with a wobbly day of trading that helped nudge the S&P 500 to its third straight weekly gain.

The benchmark index edged up 0.2% after spending much of the day in the red. The small uptick was enough to lift the S&P 500 to an all-time high for the second day in a row.

Technology companies and banks accounted for much of the upward move. The gains were offset by a broad slide in health care, energy and real estate stocks. Bond yields were mixed.

With the exception of select “meme” stocks like GameStop and AMC Entertainment hyped by individual investors in online forums, the broader market was relatively quiet this week. Investors remain in wait-and-see mode ahead of the Federal Reserve’s upcoming meeting of policymakers Wednesday.

Wall Street is keen for clues about how much of a threat the central bank deems rising inflation as the economy emerges from its pandemic-induced recession, and whether the Fed has begun considering beginning to taper its support for the economy.

“No one is suggesting that it will be at this meeting, but the market is poised for the Fed to at least even tangentially suggest that they’re discussing” tapering, said Quincy Krosby, chief market strategist at Prudential Financial.

The S&P 500 rose 8.26 points to 4,247.44. The Dow Jones Industrial Average added 13.36 points, or less than 0.1%, to 34,479.60. The Nasdaq gained 49.09 points, or 0.4%, to 14,069.42. The tech-heavy index also notched a weekly gain.

Investors bid up shares in smaller company stocks. The Russell 2000 index picked up 24.40 points, or 1.1%, to 2,335.81. The index is up 18.3% this year, outgaining the S&P 500′s advance of 13.1% and the Nasdaq’s 9.2% gain.

Among the winning technology and financial stocks were chipmaker Nvidia, which rose 2.3%, and Wells Fargo, which gained 1.3%. Several retailers also rose. V.F. Corp., maker of Vans shoes and other apparel, climbed 4.7% for the biggest gain in the S&P 500, while Gap rose 3.2% and L Brands gained 2.3%.

Traders dumped shares in several health care companies after they issued disappointing development updates. Vertex Pharmaceuticals dropped 11% after telling investors it will end development of a potential treatment for a genetic condition that targets the liver. Incyte fell 5.7% as its potential eczema cream ruxolitinib faces a delayed regulatory review. The two stocks topped the list of decliners in the S&P 500.










https://apnews.com/article/financia...rus-pandemic-5fcf7940c5f4816285f84f0830029985

*Stocks notch modest gains and a 3rd winning week for S&P 500*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street closed out a mostly listless week Friday with a wobbly day of trading that helped nudge the S&P 500 to its third straight weekly gain.

The benchmark index edged up 0.2% after spending much of the day in the red. The small uptick was enough to lift the S&P 500 to an all-time high for the second day in a row.

Technology companies and banks accounted for much of the upward move. The gains were offset by a broad slide in health care, energy and real estate stocks. Bond yields were mixed.

With the exception of select “meme” stocks like GameStop and AMC Entertainment hyped by individual investors in online forums, the broader market was relatively quiet this week. Investors remain in wait-and-see mode ahead of the Federal Reserve’s upcoming meeting of policymakers Wednesday.

Wall Street is keen for clues about how much of a threat the central bank deems rising inflation as the economy emerges from its pandemic-induced recession, and whether the Fed has begun considering beginning to taper its support for the economy.

“No one is suggesting that it will be at this meeting, but the market is poised for the Fed to at least even tangentially suggest that they’re discussing” tapering, said Quincy Krosby, chief market strategist at Prudential Financial.

The S&P 500 rose 8.26 points to 4,247.44. The Dow Jones Industrial Average added 13.36 points, or less than 0.1%, to 34,479.60. The Nasdaq gained 49.09 points, or 0.4%, to 14,069.42. The tech-heavy index also notched a weekly gain.

Investors bid up shares in smaller company stocks. The Russell 2000 index picked up 24.40 points, or 1.1%, to 2,335.81. The index is up 18.3% this year, outgaining the S&P 500′s advance of 13.1% and the Nasdaq’s 9.2% gain.

Among the winning technology and financial stocks were chipmaker Nvidia, which rose 2.3%, and Wells Fargo, which gained 1.3%. Several retailers also rose. V.F. Corp., maker of Vans shoes and other apparel, climbed 4.7% for the biggest gain in the S&P 500, while Gap rose 3.2% and L Brands gained 2.3%.

Traders dumped shares in several health care companies after they issued disappointing development updates. Vertex Pharmaceuticals dropped 11% after telling investors it will end development of a potential treatment for a genetic condition that targets the liver. Incyte fell 5.7% as its potential eczema cream ruxolitinib faces a delayed regulatory review. The two stocks topped the list of decliners in the S&P 500.

Investors were relieved to see Thursday that a much-anticipated report showed that a big rise in consumer-level inflation last month was mostly attributed to temporary factors. That could mean less pressure on the Fed to pull back on its measures supporting the economy.

“You kind of have this notion that worries about inflation from the investor base might have peaked,” said Ross Mayfield, investment strategist at Baird.

A significant share of May’s rise in consumer prices was tied to the sale of used cars, which is largely attributed to purchases by rental car companies beefing up their fleets as people return to traveling.

Bond yields were mixed Friday, though the yield on the closely watched 10-year Treasury note was trading at 1.46%, down from 1.57% a week ago. Yields have been mostly headed lower this week despite reports showing more strength in the economy and possible signs of inflation.


----------



## bigdog

*ASX closed today for Queens Birthday holiday Monday June 14*


----------



## bigdog

*Australian, Taiwan and Honk Kong markets were closed for a Monday holiday

Gains for some tech giants nudge S&P to another record high*

Technology companies helped lift stocks higher on Wall Street, nudging the S&P 500 to its third straight all-time high, even as other parts of the market faltered.

A burst of buying in the final 10 minutes of trading sent the benchmark index 0.2% higher. The S&P 500 had been down 0.3% earlier amid another bout of choppy trading as Wall Street awaits the latest take from the Federal Reserve on inflation.

Investors are trying to gauge the strength of the economic recovery and whether emerging signs of inflation will be transitory, as the central bank believes. The Fed delivers its interest rate policy update Wednesday afternoon.

“Most of this is just positioning in front of the Fed later this week,” said Willie Delwiche, investment strategist at All Star Charts. Investors are “trying to get a sense of not just what the Fed is going to say in terms of announcements, but what they expect in terms of the path of monetary policy and the economy going forward.”

The S&P 500 added 7.71 points to 4,255.15. The index has notched a weekly gain three weeks in a row. The Dow Jones Industrial Average fell 85.85 points, or 0.2%, to 34,393.75. The Nasdaq rose 104.72 points, or 0.7%, to 14,174.14.

Small-company stocks fell. The Russell 2000 index lost 9.66 points, or 0.4%, to 2,326.15.

Among the tech sector winners Monday were Apple, which rose 2.5%, and Adobe, which gained 2.9%. Several large communications companies also made gains. Facebook rose 1.7% and Netflix gained 2.3%. Those gains offset a broad decline in financial, industrial and materials stocks, among others. JPMorgan dropped 1.7%.

Wall Street is trying to gauge the strength of the economic recovery, the impact rising inflation is having on its trajectory, and the Fed’s next move.

Investors have been worried that the Fed could ease up on bond purchases and other stimulus measures as the economy recovers. No policy changes are expected immediately, but comments on a shift in policy could jostle an already skittish market.

ASX 200 expected to storm higher​The Australian share market looks set to start the week in style on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 56 points or 0.8% higher this morning. 

This follows a reasonably positive start to the week on Wall Street, which saw the Dow Jones fall 0.25% but the S&P 500 rise 0.18% and the Nasdaq climb a sizeable 0.74%.










https://apnews.com/article/financial-markets-business-ba5e78a55eeb923cec0ca3a8f09d5102

*Gains for some tech giants nudge S&P to another record high*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies helped lift stocks higher on Wall Street, nudging the S&P 500 to its third straight all-time high, even as other parts of the market faltered.

A burst of buying in the final 10 minutes of trading sent the benchmark index 0.2% higher. The S&P 500 had been down 0.3% earlier amid another bout of choppy trading as Wall Street awaits the latest take from the Federal Reserve on inflation.

Investors are trying to gauge the strength of the economic recovery and whether emerging signs of inflation will be transitory, as the central bank believes. The Fed delivers its interest rate policy update Wednesday afternoon.

“Most of this is just positioning in front of the Fed later this week,” said Willie Delwiche, investment strategist at All Star Charts. Investors are “trying to get a sense of not just what the Fed is going to say in terms of announcements, but what they expect in terms of the path of monetary policy and the economy going forward.”

The S&P 500 added 7.71 points to 4,255.15. The index has notched a weekly gain three weeks in a row. The Dow Jones Industrial Average fell 85.85 points, or 0.2%, to 34,393.75. The Nasdaq rose 104.72 points, or 0.7%, to 14,174.14.

Small-company stocks fell. The Russell 2000 index lost 9.66 points, or 0.4%, to 2,326.15.

Among the tech sector winners Monday were Apple, which rose 2.5%, and Adobe, which gained 2.9%. Several large communications companies also made gains. Facebook rose 1.7% and Netflix gained 2.3%. Those gains offset a broad decline in financial, industrial and materials stocks, among others. JPMorgan dropped 1.7%.

Wall Street is trying to gauge the strength of the economic recovery, the impact rising inflation is having on its trajectory, and the Fed’s next move.

Investors have been worried that the Fed could ease up on bond purchases and other stimulus measures as the economy recovers. No policy changes are expected immediately, but comments on a shift in policy could jostle an already skittish market.

Fed officials have maintained that any rise in inflation will be temporary as the economy recovers.

“There’s still this debate on inflation and, notwithstanding what the Fed does and whether yields move down, there’s still some upward pricing pressure,” said Tom Martin, senior portfolio manager with Globalt Investments.

A boost in demand for goods has helped fuel a rise in the cost of everything from food to cars and household goods. Shipping costs are also rising and adding to the increase in prices. The uncertainty over inflation has been fueling much of the back-and-forth in the market between stocks that are considered safer value holdings versus those with more potential for sharp growth.

“As you go into the summer and you have uncertainty about inflation, the fed and the stimulus, you’ll kind of see people neutralizing bets,” Martin said.

Lordstown Motors sank 18.8% after the CEO and CFO resigned as problems mount for the startup electric truck maker.

Novavax gave up an early gain, dropping 0.9%. The vaccine maker said its COVID-19 shot was highly effective against the disease and also protected against variants in a large study in the U.S. and Mexico. The company is facing raw-material shortages, though, and plans to seek authorization for the shots by the end of September.

Bond prices fell, sending yields mostly higher. The yield on the 10-year Treasury note rose to 1.50% from 1.46% late Friday.

“You don’t get a message from the bond market that it’s worried either about persistent inflation or about the Fed doing something dramatic in terms of not being the buyer of bonds that it has been in recent quarters,” Delwiche said.

European markets were mostly higher. Several markets in Asia were closed for a holiday.


----------



## bigdog

*US Stocks Dip From Records Ahead of Fed Decision on Rates*

U.S. stocks slipped from their record heights Tuesday as investors wait to hear whether the Federal Reserve will give any clue about when it may let up on its massive support for markets.

The S&P 500 dipped 8.56, or 0.2%, to 4,246.59, as the Federal Reserve began a two-day meeting on interest-rate policy. A day earlier, the index returned to an all-time high amid optimism that ultralow interest rates pegged by the Fed, COVID-19 vaccinations and financial support from the government are revving up the economy.

The Dow Jones Industrial Average lost 94.42 points, or 0.3%, to 34,299.33. The Nasdaq composite fell 101.29, or 0.7%, to 14,072.86 from its own record.

The S&P 500 was down as much as 0.4% earlier in the day, after a report showed inflation on the wholesale level leaped last month by even more than economists expected. Prices for producers were 6.6% higher in May than a year earlier, the highest figure on record going back to 2010 and the latest evidence that inflation is bursting higher across the economy.

The fear is that if higher inflation gets entrenched, it could force the Fed to pull back on the $120 billion in monthly purchases of bonds it's pledged to keep mortgages cheap and longer-term interest rates low, as well as raise short-term interest rates off their record low.

The Fed has so far said that it sees higher inflation as being only temporary, and it will announce its latest decision on rate policy Wednesday afternoon.

“From a prices standpoint, we’re seeing inflationary pressure, and we believe the jury is still out on the timing and extent of when we see a leveling or whether this new new normal of higher prices is cemented,” said Greg Bassuk, founder and CEO of AXS Investments.

Most economists expect the Fed to say again on Wednesday that it sees higher inflation being only temporary, which would allow it to hold steady on its support for markets. But they also say Wednesday afternoon could offer the first sign that the Fed is mulling when to start slowing its purchases of bonds.

Many investors agree with the Fed’s view that higher inflation won’t last very long, and that it’s the expected result of an economy escaping out of pandemic lockdowns. A survey of fund managers said that 72% say inflation is only “transitory,” according to BofA Global Research. That has the majority saying that any upcoming drop in stock prices would likely be less than 10%.

Technology stocks were one of the biggest drags on the S&P 500, though the majority of stocks within the index rose.

Energy companies had solid gains as the price of crude oil pushed higher. Exxon Mobil gained 3.6%, and Chevron climbed 2.2%.

ASX 200 expected to edge lower​The Australian share market looks set to give back some of its recent gains on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 9 points or 0.1% lower this morning. 

This follows a nervy night of trade on Wall Street, which saw the Dow Jones fall 0.27%, the S&P 500 drop 0.2%, and the Nasdaq tumble 0.71%.









https://www.usnews.com/news/busines...mixed-after-tech-giants-nudge-s-p-to-new-high

*US Stocks Dip From Records Ahead of Fed Decision on Rates*

By DAMIAN J. TROISE and STAN CHOE, AP Business Writers

NEW YORK (AP) — U.S. stocks slipped from their record heights Tuesday as investors wait to hear whether the Federal Reserve will give any clue about when it may let up on its massive support for markets.

The S&P 500 dipped 8.56, or 0.2%, to 4,246.59, as the Federal Reserve began a two-day meeting on interest-rate policy. A day earlier, the index returned to an all-time high amid optimism that ultralow interest rates pegged by the Fed, COVID-19 vaccinations and financial support from the government are revving up the economy.

The Dow Jones Industrial Average lost 94.42 points, or 0.3%, to 34,299.33. The Nasdaq composite fell 101.29, or 0.7%, to 14,072.86 from its own record.

The S&P 500 was down as much as 0.4% earlier in the day, after a report showed inflation on the wholesale level leaped last month by even more than economists expected. Prices for producers were 6.6% higher in May than a year earlier, the highest figure on record going back to 2010 and the latest evidence that inflation is bursting higher across the economy.

The fear is that if higher inflation gets entrenched, it could force the Fed to pull back on the $120 billion in monthly purchases of bonds it's pledged to keep mortgages cheap and longer-term interest rates low, as well as raise short-term interest rates off their record low.

The Fed has so far said that it sees higher inflation as being only temporary, and it will announce its latest decision on rate policy Wednesday afternoon.

“From a prices standpoint, we’re seeing inflationary pressure, and we believe the jury is still out on the timing and extent of when we see a leveling or whether this new new normal of higher prices is cemented,” said Greg Bassuk, founder and CEO of AXS Investments.

Most economists expect the Fed to say again on Wednesday that it sees higher inflation being only temporary, which would allow it to hold steady on its support for markets. But they also say Wednesday afternoon could offer the first sign that the Fed is mulling when to start slowing its purchases of bonds.

Many investors agree with the Fed’s view that higher inflation won’t last very long, and that it’s the expected result of an economy escaping out of pandemic lockdowns. A survey of fund managers said that 72% say inflation is only “transitory,” according to BofA Global Research. That has the majority saying that any upcoming drop in stock prices would likely be less than 10%.

A peaceful tapering of bond purchases could allow prices to remain high across markets, even amid criticism that they’ve grown too expensive, unlike the pain that would result from a quick shutoff of Fed support.

There are limited signs that inflation may be cooling in some parts of the economy. Lumber and copper prices have dropped from their highs a few weeks ago. Copper sank another 4.3% Tuesday, and miner Freeport-McMoRan's stock fell 4.8%.

Other reports on the economy Tuesday painted a mixed picture. Retail sales fell 1.3% in May from April, slamming into reverse after a 0.9% gain the prior month, for a much steeper drop than economists expected.

Part of that is likely the fading effect of rescue payments the U.S. government sent to households earlier this year, which boosted spending in March and April. But economists said it could also be a sign that Americans are shifting more of their spending toward trips, eating out and other services as the economy reopens, with less going to things bought at retailers.

A separate report said that industrial production across the country rose more last month than economists expected.

Technology stocks were one of the biggest drags on the S&P 500, though the majority of stocks within the index rose.

Energy companies had solid gains as the price of crude oil pushed higher. Exxon Mobil gained 3.6%, and Chevron climbed 2.2%.

Bond yields were relatively stable. The yield on the 10-year Treasury note dipped to 1.49% from 1.50% late Monday.

Earlier in the day, European stock markets closed out with modest gains. Asian markets were mixed, with Japan's Nikkei 225 up 1% and stocks in Shanghai down 0.9%


----------



## bigdog

*Stocks down, yields up as Fed discusses dialing back support*

U.S. stocks fell and bond yields climbed Wednesday after the Federal Reserve signaled it may start easing off the accelerator on its massive support for the economy earlier than previously thought.

The S&P 500 fell 22.89, or 0.5%, to 4,223.70 after the Fed unveiled a highly anticipated set of projections by its policymakers, which showed some expect short-term rates to rise half a percentage point by late 2023. The Fed’s chair also said it has begun talking about the possibility of slowing down the bond purchases it makes every month to keep longer-term rates low.

Super-low interest rates have been one of the main sources of fuel for the stock market’s rocket ride to records, with the most recent coming on Monday. That’s why the immediate reaction for investors to the Fed’s comments was to send stocks lower and bond yields higher, and the S&P 500 lost as much as 1% in the afternoon. But the moves moderated as the Fed’s chair, Jerome Powell, said in a press conference that any changes are likely still a ways away.

The Dow Jones Industrial Average fell 265.66 points, or 0.8%, to 34,033.67, paring a loss that hit 382 points shortly after the Fed’s announcement. The Nasdaq composite fell 33.17, or 0.2%, to 14,039.68 after earlier being down 1.2%.

In the bond market, the yield on the 10-year Treasury climbed to 1.55% from 1.50% late Tuesday. The two-year yield, which moves more closely with expectations for Fed policy, rose to 0.20% from 0.16%.

After getting over the surprise of seeing several policymakers move up forecasts for raising rates, Nate Thooft, senior managing director at Manulife Investment Management, said that his focus turned to their projections for inflation and the economy’s growth. Neither changed much for next year or for the long term.

“To me, that says the confidence level they have in their outlook is higher, not that their outlook has changed,” Thooft said.

Before, uncertainty about the economy’s recovery from the pandemic may have forced Fed officials to push the timeline for rate hikes further into the future. Now, with widespread vaccinations helping to send the economy roaring out of its prior coma, the central bank may be feeling more confident.

But moving up the timeline for rate hikes probably also moves up the timing for a potential slowdown in the Fed’s bond purchases.

In his press conference following the Fed’s announcement, Powell said that would be the bigger near-term change for markets. He said again that the purchases will continue until “substantial further progress has been made” in getting the economy to full employment and prices to be stable.

Within the S&P 500, four stocks fell for every one that rose. One of the biggest losses came from Oracle, which fell 5.6% after it laid out investment plans that could drag on its upcoming profitability.

But he acknowledged that conditions have improved enough to start discussing when to taper the purchases. “You can think about this meeting as the ‘talking about talking about’ meeting,” he said.

ASX 200 expected to rise​The Australian share market looks set to rise again on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 15 points or 0.2% higher this morning. 

This is despite it being a poor night of trade on Wall Street, which saw the Dow Jones fall 0.77%, the S&P 500 drop 0.54%, and the Nasdaq fall 0.24%.










https://apnews.com/article/financia...mic-business-a2b71c7746c9b30e24df5e77cabc8daa

*Stocks down, yields up as Fed discusses dialing back support*

By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — U.S. stocks fell and bond yields climbed Wednesday after the Federal Reserve signaled it may start easing off the accelerator on its massive support for the economy earlier than previously thought.

The S&P 500 fell 22.89, or 0.5%, to 4,223.70 after the Fed unveiled a highly anticipated set of projections by its policymakers, which showed some expect short-term rates to rise half a percentage point by late 2023. The Fed’s chair also said it has begun talking about the possibility of slowing down the bond purchases it makes every month to keep longer-term rates low.

Super-low interest rates have been one of the main sources of fuel for the stock market’s rocket ride to records, with the most recent coming on Monday. That’s why the immediate reaction for investors to the Fed’s comments was to send stocks lower and bond yields higher, and the S&P 500 lost as much as 1% in the afternoon. But the moves moderated as the Fed’s chair, Jerome Powell, said in a press conference that any changes are likely still a ways away.

The Dow Jones Industrial Average fell 265.66 points, or 0.8%, to 34,033.67, paring a loss that hit 382 points shortly after the Fed’s announcement. The Nasdaq composite fell 33.17, or 0.2%, to 14,039.68 after earlier being down 1.2%.

In the bond market, the yield on the 10-year Treasury climbed to 1.55% from 1.50% late Tuesday. The two-year yield, which moves more closely with expectations for Fed policy, rose to 0.20% from 0.16%.

After getting over the surprise of seeing several policymakers move up forecasts for raising rates, Nate Thooft, senior managing director at Manulife Investment Management, said that his focus turned to their projections for inflation and the economy’s growth. Neither changed much for next year or for the long term.

“To me, that says the confidence level they have in their outlook is higher, not that their outlook has changed,” Thooft said.

Before, uncertainty about the economy’s recovery from the pandemic may have forced Fed officials to push the timeline for rate hikes further into the future. Now, with widespread vaccinations helping to send the economy roaring out of its prior coma, the central bank may be feeling more confident.

But moving up the timeline for rate hikes probably also moves up the timing for a potential slowdown in the Fed’s bond purchases.

In his press conference following the Fed’s announcement, Powell said that would be the bigger near-term change for markets. He said again that the purchases will continue until “substantial further progress has been made” in getting the economy to full employment and prices to be stable.

But he acknowledged that conditions have improved enough to start discussing when to taper the purchases. “You can think about this meeting as the ‘talking about talking about’ meeting,” he said.

That has some investors circling late August on the calendar, when the Federal Reserve Bank of Kansas City will host its annual symposium in Jackson Hole, Wyoming. That gathering has been the setting for big Fed pronouncements in the past, and maybe that’s when Powell will offer more guidance about when the taper will begin.

A recent burst of inflation had raised concerns that the Fed will have to tighten the spigot on its support. Prices are leaping for used cars, airfares and other things across the economy as it hurtles back to life. The consumer price index surged 5% in May from a year earlier, for example.

Fed policymakers on Wednesday raised their expectations for inflation this year. The median projection for the Fed’s preferred measure of inflation was for 3.4%, up from 2.4% in March.

But the Fed still sees the burst being only temporary as the economy works its way through supply shortages and other short-term factors. The median projection sees inflation dropping to 2.1% next year and 2.2% in 2023. That’s up only slightly from their earlier projection of 2% for 2022 and 2.1% for 2023, made in March.

For economic growth in 2022, the median projection for policymakers held steady at 3.3%. For 2023, it rose to 2.4% from an earlier projection of 2.2%.

Within the S&P 500, four stocks fell for every one that rose. One of the biggest losses came from Oracle, which fell 5.6% after it laid out investment plans that could drag on its upcoming profitability.

Furniture company La-Z-Boy fell 11.7% after warning investors that dramatically higher prices it’s paying for raw materials will drag down how much profit it makes from every $1 of sales.

General Motors was among the few gainers. It rose 1.6% after saying it will raise spending on electric and autonomous vehicles and add two U.S. battery factories.


----------



## bigdog

*Most stocks fall, tech holds up as markets digest Fed moves*

The S&P 500 ended Thursday barely changed after stocks sloshed around in mixed trading, as investors make preparations for a future where the Federal Reserve is no longer doing everything it can to keep interest rates super low.

Markets around the world were mixed but mostly calm after investors in Asia and Europe got their first chance to react to the Federal Reserve’s signaling on Wednesday that it may start raising short-term interest rates by late 2023. The Fed’s chair also said it began discussing the possibility of slowing its bond-buying program. Such support has been a key reason for the stock market’s resurgence to records, with the most recent coming Monday.

The S&P 500 slipped 1.84 points, or less than 0.1%, to 4,221.86 after earlier meandering from a 0.2% gain to a 0.7% loss. Most of the stocks in the index and across Wall Street were lower, but gains for Apple, Microsoft and a few other tech heavyweights helped offset the losses.

The Dow Jones Industrial Average dropped 210.22, or 0.6%, to 33,823.45, while the Nasdaq composite rose 121.67, or 0.9%, to 14,161.35, lifted by the gains for tech and other high-growth stocks.

In the bond market, the yield on the 10-year Treasury note gave back nearly all of its spurt from a day before. It fell back to 1.51% from 1.57% late Wednesday.

The two-year yield, which tends to move more with expectations for Fed actions, was steadier. It rose to 0.22% from 0.21%.

The first action the Fed is likely to take would be a slowdown in its $120 billion of monthly bond purchases, which are helping to keep mortgages cheap, but the Fed’s chair said such a tapering is still likely “a ways away.”

Any easing up on the Fed’s aid for the economy would be a big change for markets, which have feasted on easy conditions after the central bank slashed short-term rates to zero and brought in other emergency programs.

While the economy still needs support, the recovery is proving to be strong enough that it does not need the same emergency measures taken at the beginning of the pandemic, said Stephanie Link, chief investment strategist and portfolio manager at Hightower.

“We are going to get a taper,” she said. “They need to, we do not need emergency stimulus at this point.”

The economy has begun to explode out of its coma as more widespread vaccinations help the world get closer to normal. At the same time, jumps in prices for raw materials are forcing companies across the economy to raise their own prices for customers, from fast food to used cars.

That’s fueling concerns about inflation. Much of the concern is whether rising inflation will be temporary, as the Fed expects, or more long-lasting. The reality could be more mixed. The rise in commodity prices is likely tied to increases in demand as the economy recovers, but rising wages will likely be longer lasting as employers increase pay in order to attract workers, Link said.

Investors got a bit of disappointing economic news when the Labor Department said the number of Americans who filed for unemployment benefits last week rose slightly. The total of 412,000 workers filing for jobless benefits was worse than economists expected. If it proves to be a trend rather than an aberration, it could push the Fed to hold the line longer on its support for the economy.

Stocks of companies whose profits are most closely tied to the strength of the economy and to interest rates had some of the market’s sharpest losses.

Energy stocks in the S&P 500 fell 3.5% after the price of crude oil sagged.

Banks struggled after the drop in longer-term yields hurt prospects for the profits they can make from lending. Bank of America fell 4.4%, and JPMorgan Chase lost 2.9%.

Raw-material producers were also weak, with miner Newmont down 7% after the price of gold fell 4.7%. Gold tends to struggle when the Federal Reserve is raising interest rates.

On the winning side were big tech-oriented companies, which have dominated the stock market for years as they’ve continued to grow almost regardless of the economy’s strength. Amazon rose 2.2%, Microsoft gained 1.4% and Apple added 1.3%.

ASX 200 expected to rise​The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 40 points or 0.55% higher this morning.

This is despite it being a mixed night on Wall Street, which saw the Dow Jones fall 0.62%, the S&P 500 edge lower 0.04%, and the Nasdaq storm 0.87% higher.











*Most stocks fall, tech holds up as markets digest Fed moves*

By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — The S&P 500 ended Thursday barely changed after stocks sloshed around in mixed trading, as investors make preparations for a future where the Federal Reserve is no longer doing everything it can to keep interest rates super low.

Markets around the world were mixed but mostly calm after investors in Asia and Europe got their first chance to react to the Federal Reserve’s signaling on Wednesday that it may start raising short-term interest rates by late 2023. The Fed’s chair also said it began discussing the possibility of slowing its bond-buying program. Such support has been a key reason for the stock market’s resurgence to records, with the most recent coming Monday.

The S&P 500 slipped 1.84 points, or less than 0.1%, to 4,221.86 after earlier meandering from a 0.2% gain to a 0.7% loss. Most of the stocks in the index and across Wall Street were lower, but gains for Apple, Microsoft and a few other tech heavyweights helped offset the losses.

The Dow Jones Industrial Average dropped 210.22, or 0.6%, to 33,823.45, while the Nasdaq composite rose 121.67, or 0.9%, to 14,161.35, lifted by the gains for tech and other high-growth stocks.

In the bond market, the yield on the 10-year Treasury note gave back nearly all of its spurt from a day before. It fell back to 1.51% from 1.57% late Wednesday.

The two-year yield, which tends to move more with expectations for Fed actions, was steadier. It rose to 0.22% from 0.21%.

The first action the Fed is likely to take would be a slowdown in its $120 billion of monthly bond purchases, which are helping to keep mortgages cheap, but the Fed’s chair said such a tapering is still likely “a ways away.”

Any easing up on the Fed’s aid for the economy would be a big change for markets, which have feasted on easy conditions after the central bank slashed short-term rates to zero and brought in other emergency programs.

While the economy still needs support, the recovery is proving to be strong enough that it does not need the same emergency measures taken at the beginning of the pandemic, said Stephanie Link, chief investment strategist and portfolio manager at Hightower.

“We are going to get a taper,” she said. “They need to, we do not need emergency stimulus at this point.”

The economy has begun to explode out of its coma as more widespread vaccinations help the world get closer to normal. At the same time, jumps in prices for raw materials are forcing companies across the economy to raise their own prices for customers, from fast food to used cars.

That’s fueling concerns about inflation. Much of the concern is whether rising inflation will be temporary, as the Fed expects, or more long-lasting. The reality could be more mixed. The rise in commodity prices is likely tied to increases in demand as the economy recovers, but rising wages will likely be longer lasting as employers increase pay in order to attract workers, Link said.

Investors got a bit of disappointing economic news when the Labor Department said the number of Americans who filed for unemployment benefits last week rose slightly. The total of 412,000 workers filing for jobless benefits was worse than economists expected. If it proves to be a trend rather than an aberration, it could push the Fed to hold the line longer on its support for the economy.

Stocks of companies whose profits are most closely tied to the strength of the economy and to interest rates had some of the market’s sharpest losses.

Energy stocks in the S&P 500 fell 3.5% after the price of crude oil sagged.

Banks struggled after the drop in longer-term yields hurt prospects for the profits they can make from lending. Bank of America fell 4.4%, and JPMorgan Chase lost 2.9%.

Raw-material producers were also weak, with miner Newmont down 7% after the price of gold fell 4.7%. Gold tends to struggle when the Federal Reserve is raising interest rates.

On the winning side were big tech-oriented companies, which have dominated the stock market for years as they’ve continued to grow almost regardless of the economy’s strength. Amazon rose 2.2%, Microsoft gained 1.4% and Apple added 1.3%.

Homebuilder Lennar rose 3.6% after reporting second-quarter profit and revenue that beat Wall Street forecasts.

In Europe, German and French stocks ticked modestly higher, while the FTSE 100 in London slipped 0.4%. In Asia, Japan’s Nikkei 225 fell 0.9%, and South Korea’s Kospi lost 0.4%, but Hong Kong’s Hang Seng rose 0.4%


----------



## bigdog

*US stocks slump; S&P 500 has its worst week since February*

NEW YORK (AP) — Stocks sank again on Wall Street Friday, knocking the S&P 500 to its worst weekly loss since February, as more steam comes out of banks and other stocks that soared earlier this year with expectations for the economy and inflation.

The S&P 500 fell 55.41 points, or 1.3%, to 4,166.45 in a widespread slump. It was the worst day for the index in a month as unease grows about the Federal Reserve making plans to eventually offer less help to markets.

The Dow Jones Industrial Average lost 533.37 points, or 1.6%, to 33,290.08, and the Nasdaq composite fell 130.97, or 0.9%, to 14,030.38.

Investors are still recalibrating their moves following the Federal Reserve’s signal this week that it may raise short-term interest rates twice by late 2023, earlier than expected. The Fed also began talks about slowing its bond-buying program that’s helping to keep longer-term rates low. On Friday, St. Louis Federal Reserve President James Bullard said on CNBC his personal prediction was that the first rate increase may come as soon as next year.

It’s an acknowledgment that a rebounding economy with near-record prices for homes and stocks may not need super low rates much longer. A recent burst of inflation may also be upping the pressure. But any pullback in Fed support would be a big change for markets, which have been feasting on ultra-low rates for more than a year. It marked a “U-turn on Easy Street,” as strategists at BofA Global Research described it.

That’s hurt stocks of banks, oil producers and other companies whose profits are closely tied to the strength of the economy in particular. On the other side, stocks of companies able to grow almost regardless of the economy’s fortunes have held up better.

The Dow Jones Industrial Average, which is full of companies whose profits move more with the economy, lost 3.5% this past week. That’s its worst since October. The Nasdaq composite, which has more high-growth tech stocks, dipped a much more modest 0.3%.

Of course, all the major U.S. stock indexes remain relatively close to their record highs, as the economy continues to leap out of the recession caused by the pandemic. The S&P 500 is only about 2% below its all-time high set on Monday, and the Dow is within 5% of its record set last month.

A measure of nervousness in the stock market, known as the VIX, rose Friday but is only back to where it was about a month ago.

Banks are taking a hit from the shrinking gap between shorter- and longer-term interest rates, which helped send financial stocks in the S&P 500 down 2.4% on Friday. That was one of the sharpest losses among the 11 sectors that make up the index.

Among the few winners in the market Friday was software maker Adobe. It rose 2.6% after reporting stronger results for the latest quarter than analysts expected and gave an encouraging forecast for the current quarter.

Gun maker Smith & Wesson jumped 17.2% after raising its quarterly dividend and reporting stronger results for the latest quarter than expected.


*








*
https://apnews.com/article/financia...mic-business-7bcdaaae598325b0617a00e6df9fb109
*
US stocks slump; S&P 500 has its worst week since February*

By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — Stocks sank again on Wall Street Friday, knocking the S&P 500 to its worst weekly loss since February, as more steam comes out of banks and other stocks that soared earlier this year with expectations for the economy and inflation.

The S&P 500 fell 55.41 points, or 1.3%, to 4,166.45 in a widespread slump. It was the worst day for the index in a month as unease grows about the Federal Reserve making plans to eventually offer less help to markets.

The Dow Jones Industrial Average lost 533.37 points, or 1.6%, to 33,290.08, and the Nasdaq composite fell 130.97, or 0.9%, to 14,030.38.

Investors are still recalibrating their moves following the Federal Reserve’s signal this week that it may raise short-term interest rates twice by late 2023, earlier than expected. The Fed also began talks about slowing its bond-buying program that’s helping to keep longer-term rates low. On Friday, St. Louis Federal Reserve President James Bullard said on CNBC his personal prediction was that the first rate increase may come as soon as next year.

It’s an acknowledgment that a rebounding economy with near-record prices for homes and stocks may not need super low rates much longer. A recent burst of inflation may also be upping the pressure. But any pullback in Fed support would be a big change for markets, which have been feasting on ultra-low rates for more than a year. It marked a “U-turn on Easy Street,” as strategists at BofA Global Research described it.

That’s hurt stocks of banks, oil producers and other companies whose profits are closely tied to the strength of the economy in particular. On the other side, stocks of companies able to grow almost regardless of the economy’s fortunes have held up better.

The Dow Jones Industrial Average, which is full of companies whose profits move more with the economy, lost 3.5% this past week. That’s its worst since October. The Nasdaq composite, which has more high-growth tech stocks, dipped a much more modest 0.3%.

Of course, all the major U.S. stock indexes remain relatively close to their record highs, as the economy continues to leap out of the recession caused by the pandemic. The S&P 500 is only about 2% below its all-time high set on Monday, and the Dow is within 5% of its record set last month.

A measure of nervousness in the stock market, known as the VIX, rose Friday but is only back to where it was about a month ago.

Banks are taking a hit from the shrinking gap between shorter- and longer-term interest rates, which helped send financial stocks in the S&P 500 down 2.4% on Friday. That was one of the sharpest losses among the 11 sectors that make up the index.

When the gap is wide, the industry can make big profits from borrowing cash in short-term markets and lending it out at longer-term rates. But short-term yields jumped sharply this week after the Fed’s indication that it may be moving up the timeline for rate increases. The two-year Treasury yield rose to 0.25% Friday from 0.23% a day before and from 0.16% a week before.

The 10-year Treasury yield, which is less directly affected by Fed moves, ended the week close to where it started, though there were some jagged moves up and down in the interim. It sat at 1.43% Friday afternoon, down from 1.51% late Thursday but not far off from its 1.46% level a week earlier.

The rate pressure helped send JPMorgan Chase down 2.5%, and it was one of the heaviest weights on the S&P 500. Bank of America dropped 2.6%.

The quickly recovering economy and some supply shortages have helped send prices soaring across the economy recently, from lumber to airline tickets to used cars. The Fed has said it expects high inflation to be only “transitory,” and prices for lumber at least have already started to moderate a bit. Much of Wall Street also says inflation looks to be only temporary, but part of the Fed’s mission is to keep prices under control.

“You just don’t have the firms able to build capacity to meet demand,” said Ken Johnson, investment strategy analyst at Wells Fargo Investment Institute. “Investors are nervous about that.”

The first action the Fed is likely to take would be a slowdown in its $120 billion of monthly bond purchases, which are helping to keep mortgages cheap, but the Fed’s chair said such a tapering is still likely a ways away.

Besides keeping inflation steady, the Fed’s other main job is to keep the job market healthy. Employment has been improving, but growth has slowed in recent months.

“That gives investors some reassurance that the Fed isn’t going to move on rates when the economy, from a labor market perspective, isn’t back to where it was,” Johnson said.

Among the few winners in the market Friday was software maker Adobe. It rose 2.6% after reporting stronger results for the latest quarter than analysts expected and gave an encouraging forecast for the current quarter.

Gun maker Smith & Wesson jumped 17.2% after raising its quarterly dividend and reporting stronger results for the latest quarter than expected.


----------



## bigdog

ASX 200 expected to sink​The Australian share market is expected to start the week deep in the red this morning. According to the latest SPI futures, the ASX 200 is expected to open the day 111 points or 1.5% lower.

This follows a very poor end to the week on Wall Street, which saw the Dow Jones drop 1.58%, the S&P 500 fall 1.31%, and the Nasdaq tumble 0.92% lower.


----------



## bigdog

*Wall Street snaps back following worst week since February*

NEW YORK (AP) — Stocks rebounded on Wall Street Monday, clawing back most of their sharp loss from last week, as the initial jolt passes from the Federal Reserve’s reminder that it will eventually offer less help for markets.

The S&P 500 snapped 58.34 points higher, or 1.4%, to 4,224.79 and recovered nearly three-quarters of its worst weekly loss since February. Oil producers, banks and other companies that were hit particularly hard last week led the way.

The Dow Jones Industrial Average gained 586.89, or 1.8%, to 33,876.97, and the Nasdaq composite rose 111.10, or 0.8%, to 14,141.48.

Investors are still figuring all the ramifications of the Fed’s latest meeting on interest-rate policy, where it indicated it may start raising short-term rates by late 2023. That’s earlier than previously thought. The Fed also began talks about slowing programs meant to keep longer-term rates low, an acknowledgment of the strengthening economy and threat of higher inflation.

The market’s immediate reaction to last week’s Fed news was to send stocks lower and interest rates higher. Any shift by the Fed would be a big deal, after investors have feasted on easy conditions with ultra-low rates for more than a year. Higher rates would make stock prices, which have been climbing faster than corporate profits, look even more expensive than they do already.

But it’s not like the Fed said it will jack rates higher off their record low of nearly zero anytime soon.

“If markets are worried about a march back to more normal monetary and fiscal policy as the economy recovers, it will be a very long march,” Barings chief global strategist Christopher Smart said in a note. In the meantime, support from both the Federal Reserve and the U.S. government should continue to help stock prices, even if they do look expensive compared with history, he said.

Companies whose profits are the most closely tied to the economy’s strength and inflation were among the market’s strongest on Monday.

Hess, Marathon Oil and Devon Energy all rose at least 6.9% as energy stocks rallied with the price of oil.

Banks were also strong, with Bank of America up 2.5% and Wells Fargo climbing 3.7%.

High-growth companies able to flourish almost regardless of the economy lagged behind, meanwhile. It’s a reversal from last week’s trend, when investors rattled by the Fed piled back into the biggest winners of the pandemic.

Amazon slipped 0.9% Monday, for example, and the lagging performance for tech meant the Nasdaq was trailing other indexes.

ASX 200 expected to rebound​The Australian share market looks set to rebound strongly from yesterday’s sell off thanks to a very positive start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 96 points or 1.35% higher this morning.

Wall Street had its best day since March, with the Dow Jones rising 1.76%, the S&P 500 jumping 1.4%, and the Nasdaq pushing 0.79% higher.










https://apnews.com/article/financia...mic-business-8a9e11c9fbf75873e38dc82ad9fc1e6c

*Wall Street snaps back following worst week since February*

By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — Stocks rebounded on Wall Street Monday, clawing back most of their sharp loss from last week, as the initial jolt passes from the Federal Reserve’s reminder that it will eventually offer less help for markets.

The S&P 500 snapped 58.34 points higher, or 1.4%, to 4,224.79 and recovered nearly three-quarters of its worst weekly loss since February. Oil producers, banks and other companies that were hit particularly hard last week led the way.

The Dow Jones Industrial Average gained 586.89, or 1.8%, to 33,876.97, and the Nasdaq composite rose 111.10, or 0.8%, to 14,141.48.

Investors are still figuring all the ramifications of the Fed’s latest meeting on interest-rate policy, where it indicated it may start raising short-term rates by late 2023. That’s earlier than previously thought. The Fed also began talks about slowing programs meant to keep longer-term rates low, an acknowledgment of the strengthening economy and threat of higher inflation.

The market’s immediate reaction to last week’s Fed news was to send stocks lower and interest rates higher. Any shift by the Fed would be a big deal, after investors have feasted on easy conditions with ultra-low rates for more than a year. Higher rates would make stock prices, which have been climbing faster than corporate profits, look even more expensive than they do already.

But it’s not like the Fed said it will jack rates higher off their record low of nearly zero anytime soon.

“If markets are worried about a march back to more normal monetary and fiscal policy as the economy recovers, it will be a very long march,” Barings chief global strategist Christopher Smart said in a note. In the meantime, support from both the Federal Reserve and the U.S. government should continue to help stock prices, even if they do look expensive compared with history, he said.

Companies whose profits are the most closely tied to the economy’s strength and inflation were among the market’s strongest on Monday.

Hess, Marathon Oil and Devon Energy all rose at least 6.9% as energy stocks rallied with the price of oil.

Banks were also strong, with Bank of America up 2.5% and Wells Fargo climbing 3.7%.

High-growth companies able to flourish almost regardless of the economy lagged behind, meanwhile. It’s a reversal from last week’s trend, when investors rattled by the Fed piled back into the biggest winners of the pandemic.

Amazon slipped 0.9% Monday, for example, and the lagging performance for tech meant the Nasdaq was trailing other indexes.

Shorter-term yields slipped, and longer-term yields rose in another reversal from last week’s initial reaction to the Fed news.

The two-year Treasury yield dipped to 0.25% from 0.26% late Friday, while the 10-year yield rose to 1.49% from 1.45%.

More bumps may be ahead for markets, which had been mostly quiet for weeks before the Fed’s announcement. Fed Chair Jerome Powell will speak before a House subcommittee on Tuesday about the Fed’s response to the pandemic.

On Friday, investors will see what the Federal Reserve’s preferred gauge for inflation says about May. Prices have been bursting higher across the economy, from airfares to restaurant meals, but the Fed has so far said it expects the big increases to be only temporary. If it proves to be longer lasting, the Fed may have to get much more aggressive about raising rates.

Corporate deals helped lift shares of some companies well beyond the market’s gains. Industrial products maker Raven Industries jumped 49.3% on news it is being bought by CNH Industrial. Engineered products company Lydall surged 85.4% on news of its sale to Clearlake Capital-backed Unifrax.

Wall Street’s strong gains followed up on a tumultuous day of trading that preceded it in Asia.

Japan’s Nikkei 225 sank 3.3%, while Hong Kong’s Hang Seng fell 1.1% in the first trading following Wall Street’s tumble on Friday. South Korea’s Kospi lost 0.8%, but markets calmed as trading headed westward.

Across Europe, stock indexes made mostly modest gains. Germany’s DAX returned 1%.


----------



## bigdog

*Wall Street rises, pushing S&P 500 back near record high*

Stocks rose on Wall Street Tuesday, nudging the S&P 500 toward its record high, as the head of the Federal Reserve said again that inflation looks to be only a temporary problem for the economy and markets.

The S&P 500 climbed 21.65, or 0.5%, to 4,246.44 after Fed Chair Jerome Powell’s comments helped further calm markets, which were jolted by last week’s announcement that the Fed has begun planning to eventually offer less support to the economy. The S&P 500 got back within 0.2% of its all-time high set two Mondays ago, after dropping as much as 2.1%.

The Dow Jones Industrial Average gained 68.61 points, or 0.2%, to 33,945.58, and the Nasdaq composite rose 111.79, or 0.8%, to 14,253.27.

Indexes started the day off mixed, but they rose more convincingly as Powell told a Congressional subcommittee that the burst of inflation hitting the economy is mostly confined to areas hemmed in by shortages of supplies. That’s why he expects inflation, which hit 5% last month, to subside as the economy gets further into its reawakening.

He pointed in particular to rising prices for used cars, airfares and other things where a newfound flood of dollars is chasing after a limited supply of goods and services. He admitted that price gains in those areas have been larger than the Fed initially expected, but he remained resolute in calling them only temporary.

“The incoming data are very much consistent with the view that these are factors that will wane over time,” he said.

If the Fed is wrong, and if inflation does end up being a longer-lasting problem, it would force the central bank to get more aggressive about raising interest rates higher and faster off their record lows

Markets are just getting used to the idea of the Fed making any moves at all. For more than a year, they’ve enjoyed investing on easy-mode as super-low rates propped up prices. Last week, though, the Fed indicated it may begin raising short-term rates by late 2023, earlier than expected. It also discussed easing up on programs meant to keep longer-term rates low.

Trading is likely to get bumpier through the summer as economic reports may give sometimes conflicting signals about inflation and other key data amid a recovering economy, said Katie Nixon, chief investment officer at Northern Trust Wealth Management.

“What investors are going to have to do is just buckle up,” she said. “The data is going to be very noisy; we could get some numbers that create some anxiety.”

The key, she said, is to stay calm and not overreact to any one signal or piece of data.

Markets are sitting close to their records, but that’s masked plenty of churning happening underneath the surface since the Fed’s announcement last week.

The market’s initial move was to send stocks lower and bond yields higher. But the reaction has diffused as investors focus more on the Fed’s saying that it still plans to keep up its support for markets for a while.

ASX 200 expected to edge lower​The Australian share market looks set to edge lower on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 5 points or 0.1% lower this morning. 

This is despite it being a positive night of trade on Wall Street, which saw the Dow Jones rise 0.2%, the S&P 500 climb 0.51%, and the Nasdaq storm 0.79% higher.











https://apnews.com/article/financia...mic-business-5ee864047dc409eeede5689b1b0becfe

*Wall Street rises, pushing S&P 500 back near record high*

By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — Stocks rose on Wall Street Tuesday, nudging the S&P 500 toward its record high, as the head of the Federal Reserve said again that inflation looks to be only a temporary problem for the economy and markets.

The S&P 500 climbed 21.65, or 0.5%, to 4,246.44 after Fed Chair Jerome Powell’s comments helped further calm markets, which were jolted by last week’s announcement that the Fed has begun planning to eventually offer less support to the economy. The S&P 500 got back within 0.2% of its all-time high set two Mondays ago, after dropping as much as 2.1%.

The Dow Jones Industrial Average gained 68.61 points, or 0.2%, to 33,945.58, and the Nasdaq composite rose 111.79, or 0.8%, to 14,253.27.

Indexes started the day off mixed, but they rose more convincingly as Powell told a Congressional subcommittee that the burst of inflation hitting the economy is mostly confined to areas hemmed in by shortages of supplies. That’s why he expects inflation, which hit 5% last month, to subside as the economy gets further into its reawakening.

He pointed in particular to rising prices for used cars, airfares and other things where a newfound flood of dollars is chasing after a limited supply of goods and services. He admitted that price gains in those areas have been larger than the Fed initially expected, but he remained resolute in calling them only temporary.

“The incoming data are very much consistent with the view that these are factors that will wane over time,” he said.

If the Fed is wrong, and if inflation does end up being a longer-lasting problem, it would force the central bank to get more aggressive about raising interest rates higher and faster off their record lows

Markets are just getting used to the idea of the Fed making any moves at all. For more than a year, they’ve enjoyed investing on easy-mode as super-low rates propped up prices. Last week, though, the Fed indicated it may begin raising short-term rates by late 2023, earlier than expected. It also discussed easing up on programs meant to keep longer-term rates low.

Trading is likely to get bumpier through the summer as economic reports may give sometimes conflicting signals about inflation and other key data amid a recovering economy, said Katie Nixon, chief investment officer at Northern Trust Wealth Management.

“What investors are going to have to do is just buckle up,” she said. “The data is going to be very noisy; we could get some numbers that create some anxiety.”

The key, she said, is to stay calm and not overreact to any one signal or piece of data.

Markets are sitting close to their records, but that’s masked plenty of churning happening underneath the surface since the Fed’s announcement last week.

The market’s initial move was to send stocks lower and bond yields higher. But the reaction has diffused as investors focus more on the Fed’s saying that it still plans to keep up its support for markets for a while.

Longer-term Treasury yields have fallen back after their initial spike, for example. The 10-year yield dipped to 1.46% from 1.48% late Monday.

Shorter-term yields, which move more on expectations for Fed moves on the federal funds rate, have also regressed a bit. The two-year Treasury yield fell back to 0.22% from 0.27% late Monday, but it’s still well above its 0.16% level from before the Fed’s meeting.

In the stock market, companies whose profits most need a strengthening economy to flourish have swung out of and back into favor. They’ve been trading places with Big Tech stocks and other winners of the pandemic, which have seemed able to grow almost regardless of the economy.

GameStop rose 10% after the company said it had raised $1.1 billion after selling 5 million new shares to investors. The company captivated Wall Street earlier this year, after a band of smaller-pocketed investors piled into it together and sent its price way beyond what professional analysts said was reasonable.

Retailers and tech companies were also particularly strong. Gains for Apple, Amazon and Microsoft, which all rose at least 1.1%, were the biggest reasons for the S&P 500′s climb.

In cryptocurrencies, prices continued to swing sharply after Chinese banks said they would step up enforcement on a government ban.

Bitcoin was trading at a little less than $33,000, according to Coindesk. Earlier in the day, it fell below $30,000, about where it started the year, after more than halving from its high of $64,829.14 in April.


----------



## bigdog

*Stocks end listless day on Wall Street mixed as calm returns*

A listless day on Wall Street ended with indexes mixed on Wednesday, as nervousness continues to wash out of the market following last week’s jolt by the Federal Reserve.

The S&P 500 slipped 4.60 points, or 0.1%, to 4,241.84 after earlier meandering between very modest gains and losses. It’s 0.3% below its record high set a week and a half ago.

The Dow Jones Industrial Average fell 71.34, or 0.2%, to 33,874.24, while the Nasdaq composite added to its record set a day before. It inched up by 18.46, or 0.1%, to 14,271.73.

The majority of stocks in the S&P 500 fell, but gains for financial companies and others that do best when the economy is healthy helped limit the losses.

Markets have calmed notably since the Federal Reserve surprised investors last week by saying it could start raising short-term interest rates by late 2023, earlier than expected.

The super-low rates the Fed has engineered to carry the economy through the pandemic have made investing easy for more than a year. They’ve propped up prices across markets, and any change would be a big deal. That’s why the Fed’s announcement triggered an immediate drop for stocks and rise in Treasury yields.

But since then, investors have focused more on how it may be still be years before the first rate hike hits, particularly as Fed officials continue to say they see the high inflation sweeping the economy being only a temporary problem.

Before the Fed raises rates for the first time since 2018, it will likely first have to check off several items, investment giant Capital Group said in a recent report.

First, the Fed will announce that it will reduce the bond purchases it’s making to keep longer-term interest rates low. Then it will actually begin tapering, before ending tapering and then signaling that a rate hike is coming.

“That schedule will take time, and Fed officials have made it clear that they will remain patient,” said Capital Group, which runs American Funds, in its midyear outlook.

In the meantime, the economy continues to roar higher, and corporate profits are soaring.

ASX 200 expected to fall​The Australian share market looks set to fall again on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 26 points or 0.35% lower this morning. 

This follows a subdued night of trade on Wall Street, which saw the Dow Jones fall 0.21%, the S&P 500 drop 0.11%, and the Nasdaq rise 0.13%.


















						Asian shares mostly higher after listless session on Wall St
					

BANGKOK (AP) — Shares were mostly higher in Asia on Thursday after a listless day of trading on Wall Street as the recent bout of nerves over Federal Reserve policy fades.  Markets advanced in Tokyo, Seoul and Hong Kong while Sydney and Shanghai declined.




					apnews.com
				




*Stocks end listless day on Wall Street mixed as calm returns*

By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — A listless day on Wall Street ended with indexes mixed on Wednesday, as nervousness continues to wash out of the market following last week’s jolt by the Federal Reserve.

The S&P 500 slipped 4.60 points, or 0.1%, to 4,241.84 after earlier meandering between very modest gains and losses. It’s 0.3% below its record high set a week and a half ago.

The Dow Jones Industrial Average fell 71.34, or 0.2%, to 33,874.24, while the Nasdaq composite added to its record set a day before. It inched up by 18.46, or 0.1%, to 14,271.73.

The majority of stocks in the S&P 500 fell, but gains for financial companies and others that do best when the economy is healthy helped limit the losses.

Markets have calmed notably since the Federal Reserve surprised investors last week by saying it could start raising short-term interest rates by late 2023, earlier than expected.

The super-low rates the Fed has engineered to carry the economy through the pandemic have made investing easy for more than a year. They’ve propped up prices across markets, and any change would be a big deal. That’s why the Fed’s announcement triggered an immediate drop for stocks and rise in Treasury yields.

But since then, investors have focused more on how it may be still be years before the first rate hike hits, particularly as Fed officials continue to say they see the high inflation sweeping the economy being only a temporary problem.

Before the Fed raises rates for the first time since 2018, it will likely first have to check off several items, investment giant Capital Group said in a recent report.

First, the Fed will announce that it will reduce the bond purchases it’s making to keep longer-term interest rates low. Then it will actually begin tapering, before ending tapering and then signaling that a rate hike is coming.

“That schedule will take time, and Fed officials have made it clear that they will remain patient,” said Capital Group, which runs American Funds, in its midyear outlook.

In the meantime, the economy continues to roar higher, and corporate profits are soaring.

One measure of nervousness among stock investors in the market, known as the VIX, fell about 2%. Earlier in the day, it came close to its lowest level since the pandemic sell-off began in February 2020.

Of course, if the Fed is wrong and higher inflation is longer lasting, the central bank will then have to get more aggressive about raising rates.

The latest data on inflation will come on Friday with the release of the Federal Reserve’s preferred gauge. It will cover May, which the consumer price index has already said saw year-over-year inflation of 5%.

Bond yields were holding relatively steady following a mixed set of economic data. The yield on the 10-year Treasury inched up to 1.48% from 1.47% late Tuesday. The two-year yield held at 0.25%.

Preliminary readings on the economy in June from IHS Markit showed manufacturing is growing at a stronger pace than economists expected, but growth for services industries fell short of forecasts.

Sales of new homes in May also failed to meet economists’ forecasts. It was the second straight monthly decline, as surging prices for homes slow activity. Besides a shortage of homes on the market, inflation has also been driving home prices higher because of increased costs for lumber and other building materials.

European markets were mostly lower. The DAX in Germany lost 1.2%, and the CAC 40 in France fell 0.9%. The FTSE 100 in London fell 0.2%.

In Asia, Japan’s Nikkei 225 was nearly unchanged while other markets were stronger. Hong Kong’s Hang Seng rose 1.8%, and stocks in Seoul gained 0.4%.


----------



## bigdog

*Stocks add to weekly gains, helped by infrastructure deal*

Stocks closed higher on Wall Street Thursday as traders were encouraged to see a bipartisan deal on infrastructure spending as well as some positive reports on the economy.

The S&P 500 marked another record high, beating the peak it set early last week. Stocks added to their gains in the afternoon after President Joe Biden announced the infrastructure deal, which is sure to benefit companies in the construction industry.

Chris Zaccarelli, chief investment officer for Independent Advisor Alliance, said the proposed agreement is favorable for industrials, financials and energy stocks, although “the general re-opening of the economy and renewed, post-Covid-19 economic growth is the most likely driver” of the market going forward.

The S&P 500 index rose 24.65 points, or 0.6%, to 4,266.49. The Dow Jones Industrial Average rose 322.58 points, or 1%, to 34,196.82. The Nasdaq added 97.98, or 0.7%, to 14,369.71.

Small-company stocks did much better than the rest of the market. The Russell 2000 index climbed 30.15 points, or 1.3%, to 2,333.62.

Major indexes rose further after President Biden announced the infrastructure deal. The plan, which will cost $973 billion over five years, is the culmination of months of talks on both sides of the aisle. Biden’s larger spending plan is still possible later this year.

Biden announced the infrastructure deal Thursday afternoon at the White House. Analysts have said that any effort to rebuild the nation’s roads, bridges and other infrastructure could send the stocks of companies that make machinery and materials higher. Caterpillar rose 2.6% and Vulcan Materials gained 3.3%.

Markets have calmed since the Federal Reserve surprised investors last week by saying it could start raising short-term interest rates by late 2023, earlier than expected, if recent high inflation persists.

The super-low rates the Fed engineered to carry the economy through the pandemic have propped up prices across markets, and any change would be a big deal, so the Fed’s announcement triggered selling of stocks and a rise in Treasury yields last week. However that selling reversed this week. The three major indexes are all up more than 2% this week and are once again near records.

Investors had little negative reaction to a report that showed that 411,000 Americans filed for unemployment benefits last week, down 7,000 from the week before. That was a much more modest decline than investors had expected, and the second week in a row where unemployment benefits claims stalled after declining steadily for months.

ASX 200 expected to rebound​The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 44 points or 0.6% higher this morning. 

This follows a strong night on Wall Street which saw the Dow Jones rise 0.95%, the S&P 500 climb 0.58%, and the Nasdaq push 0.69% higher


















						Asian stocks rise after US rally on infrastructure deal
					

TOKYO (AP) — Asian shares rose Friday, buoyed by the rally on Wall Street that came after President Joe Biden announced a bipartisan deal on infrastructure spending.  Japan's benchmark Nikkei 225 jumped 0.6% in morning trading to 29,050.35.




					apnews.com
				




*Stocks add to weekly gains, helped by infrastructure deal*

The Associated Press

Stocks closed higher on Wall Street Thursday as traders were encouraged to see a bipartisan deal on infrastructure spending as well as some positive reports on the economy.

The S&P 500 marked another record high, beating the peak it set early last week. Stocks added to their gains in the afternoon after President Joe Biden announced the infrastructure deal, which is sure to benefit companies in the construction industry.

Chris Zaccarelli, chief investment officer for Independent Advisor Alliance, said the proposed agreement is favorable for industrials, financials and energy stocks, although “the general re-opening of the economy and renewed, post-Covid-19 economic growth is the most likely driver” of the market going forward.

The S&P 500 index rose 24.65 points, or 0.6%, to 4,266.49. The Dow Jones Industrial Average rose 322.58 points, or 1%, to 34,196.82. The Nasdaq added 97.98, or 0.7%, to 14,369.71.

Small-company stocks did much better than the rest of the market. The Russell 2000 index climbed 30.15 points, or 1.3%, to 2,333.62.

Major indexes rose further after President Biden announced the infrastructure deal. The plan, which will cost $973 billion over five years, is the culmination of months of talks on both sides of the aisle. Biden’s larger spending plan is still possible later this year.

Biden announced the infrastructure deal Thursday afternoon at the White House. Analysts have said that any effort to rebuild the nation’s roads, bridges and other infrastructure could send the stocks of companies that make machinery and materials higher. Caterpillar rose 2.6% and Vulcan Materials gained 3.3%.

Markets have calmed since the Federal Reserve surprised investors last week by saying it could start raising short-term interest rates by late 2023, earlier than expected, if recent high inflation persists.

The super-low rates the Fed engineered to carry the economy through the pandemic have propped up prices across markets, and any change would be a big deal, so the Fed’s announcement triggered selling of stocks and a rise in Treasury yields last week. However that selling reversed this week. The three major indexes are all up more than 2% this week and are once again near records.

Investors had little negative reaction to a report that showed that 411,000 Americans filed for unemployment benefits last week, down 7,000 from the week before. That was a much more modest decline than investors had expected, and the second week in a row where unemployment benefits claims stalled after declining steadily for months.

Meanwhile, orders to U.S. factories for big-ticket manufactured goods rose for the 12th time in the last 13 months in May, pulled up by surging demand for civilian aircraft. The Commerce Department said Thursday that orders for durable goods — meant to last at least three years — climbed 2.3% in May, reversing a 0.8% drop in April and coming despite a backlogged supply chain and a shortage of workers.

The yield on the 10-year Treasury note edged up to 1.49% from 1.48%, late Wednesday.

Rite Aid plunged 14.5% after the drug store chain said it expects to report a loss for the year, due to pressure on its pharmacy benefits services and lower-than-expected sales.

Eli Lilly rose 7.3% after the Food and Drug Administration gave expedited approval to the drugmaker’s experimental Alzheimer’s treatment.

BuzzFeed announced it would go public with an implied value of $1.5 billion through a merger with a special purpose acquisition company. The media company will trade under the ticker BZFD but has not chosen a stock exchange yet.


----------



## bigdog

*Stock close higher, S&P 500 has best week since February*

Stocks ended mostly higher Friday, helping the S&P 500 index close out its best week since February. It’s a notable turnaround for the market, which only the previous week had its worst week since February on concerns about inflation.

The S&P 500 index closed up 14.21 points, or 0.3%, to 4,280.70. The Dow Jones Industrial Average rose 237.02 points, or 0.7%, to 34,433.84 and the Nasdaq Composite lost 9.32 points, or 0.1%, to 14,360.39. With Friday’s gains, the S&P 500 index ended the week up 2.7%, its best five-day period since Feb. 5 .

The Dow’s gains were driven by a surge in Nike, which reported blowout earnings late Thursday and gave investors a strong outlook for the year. Nike rose 15.5%.

Markets have calmed since the Federal Reserve surprised investors last week by saying it could start raising short-term interest rates by late 2023, earlier than expected, if recent high inflation persists. The calming of investors’ nerves has largely helped the market undo the damage from the previous week.

Investors got another data point on inflation on Friday. The Commerce Department said inflation tied to a gauge of consumer spending that is closely watched by the Federal Reserve increased 0.4% in May and is up 3.9% over the past 12 months, well above the Fed’s 2% target for annual price increases.

“Today’s inflation data should calm some nerves about runaway inflation. Remember, the PCE is the Fed’s favorite measure of inflation, and it very well could be near a peak in inflation,” Ryan Detrick, chief market strategist for LPL Financial, wrote in an email to investors.

Investors are also embracing a bipartisan deal for infrastructure spending. President Biden and a group of Democrat and GOP senators were able to reach a near $1 trillion deal to build out numerous parts of the country’s infrastructure, including roads, rails and ports. The plan, costing $973 billion over five years, is the culmination of months of talks, and a larger spending plan from President Biden is still possible later this year.

FedEx fell 3.6% after the company announced it would increase its spending to reduce delivery delays across its network.

Virgin Galactic jumped 38.9% after the company got approval from the Federal Aviation Administration to start its flights into space, the final approval the company to begin commercial spaceflight.




















						Stock close higher, S&P 500 has best week since February
					

Stocks ended mostly higher Friday, helping the S&P 500 index close out its best week since February. It's a notable turnaround for the market, which only the previous week had its worst week since February on concerns about inflation.




					apnews.com
				




*Stock close higher, S&P 500 has best week since February*

The Associated Press

Stocks ended mostly higher Friday, helping the S&P 500 index close out its best week since February. It’s a notable turnaround for the market, which only the previous week had its worst week since February on concerns about inflation.

The S&P 500 index closed up 14.21 points, or 0.3%, to 4,280.70. The Dow Jones Industrial Average rose 237.02 points, or 0.7%, to 34,433.84 and the Nasdaq Composite lost 9.32 points, or 0.1%, to 14,360.39. With Friday’s gains, the S&P 500 index ended the week up 2.7%, its best five-day period since Feb. 5 .

The Dow’s gains were driven by a surge in Nike, which reported blowout earnings late Thursday and gave investors a strong outlook for the year. Nike rose 15.5%.

Markets have calmed since the Federal Reserve surprised investors last week by saying it could start raising short-term interest rates by late 2023, earlier than expected, if recent high inflation persists. The calming of investors’ nerves has largely helped the market undo the damage from the previous week.

Investors got another data point on inflation on Friday. The Commerce Department said inflation tied to a gauge of consumer spending that is closely watched by the Federal Reserve increased 0.4% in May and is up 3.9% over the past 12 months, well above the Fed’s 2% target for annual price increases.

“Today’s inflation data should calm some nerves about runaway inflation. Remember, the PCE is the Fed’s favorite measure of inflation, and it very well could be near a peak in inflation,” Ryan Detrick, chief market strategist for LPL Financial, wrote in an email to investors.

Investors are also embracing a bipartisan deal for infrastructure spending. President Biden and a group of Democrat and GOP senators were able to reach a near $1 trillion deal to build out numerous parts of the country’s infrastructure, including roads, rails and ports. The plan, costing $973 billion over five years, is the culmination of months of talks, and a larger spending plan from President Biden is still possible later this year.

FedEx fell 3.6% after the company announced it would increase its spending to reduce delivery delays across its network.

Virgin Galactic jumped 38.9% after the company got approval from the Federal Aviation Administration to start its flights into space, the final approval the company to begin commercial spaceflight.


----------



## bigdog

ASX 200 poised to edge higher​The Australian share market is expected to start the week slightly higher. According to the latest SPI futures, the ASX 200 is expected to open the day 5 points or 0.1% higher. 

This follows a reasonably positive end to the week on Wall Street, which saw the Dow Jones rise 0.7%, the S&P 500 climb 0.3%, and the Nasdaq edge slightly lower.


----------



## bigdog

*Tech gains nudge S&P 500, Nasdaq further into record heights*

Strength for tech stocks nudged U.S. indexes a bit further into record heights Monday, more than making up for losses across much of the rest of Wall Street.

The S&P 500 rose 9.91 points, or 0.2%, to 4,290.61 after drifting between small gains and losses for much of the day. It added to its all-time high set Friday as optimism builds about the strengthening economy and expectations that the Federal Reserve will keep interest rates low for a while longer.

Healthy gains for Nvidia, Facebook and other stocks that have been winners of the increasingly online world helped the Nasdaq composite also tick further into record heights. It rose 140.12, or 1%, to 14,500.51. But the majority of stocks in the S&P 500 and across Wall Street weakened, and the Dow Jones Industrial Average dropped 150.57, or 0.4%, to 34,283.27.

Trading was relatively quiet around the world, with European stocks modestly lower and several Asian indexes nearly unchanged.

The action was more notable in the bond market, where the yield on the 10-year Treasury slumped to 1.47% from 1.53% late Friday. It was as high as 1.70% last month, but it’s been receding as worries about high inflation have calmed a bit.

The drop in long-term rates can crimp the profits banks make from lending money, and financial stocks were some of the biggest drags on the S&P 500. Wells Fargo slipped 1.3%, and Capital One Financial fell 2.5%.

But falling Treasury yields can also make the high price tags for high-growth stocks easier to justify, and gains for tech stocks were the main reason for the S&P 500′s strength.

Apple rose 1.3%, Microsoft gained 1.4% and Intel climbed 2.8%. Nvidia jumped 5% after The Sunday Times in Britain reported several big customers of U.K. semiconductor company Arm came out in support of its proposed takeover by Nvidia.

Facebook climbed 4.2% after a federal judge dismissed antitrust lawsuits brought against it by the Federal Trade Commission and a group of state attorneys general.

Still, worries remain on Wall Street, and a measure of nervousness in the stock market ticked up by about 1%.

Some measures of the economy may have already hit their peaks after roaring out of the recession caused by the pandemic. Stock prices look expensive to critics after rising much faster than corporate profits. And inflation remains a worry, even if more investors have come around to the Federal Reserve’s view that it will be only a temporary problem.

ASX 200 expected to fall​The Australian share market looks set to edge lower this morning. According to the latest SPI futures, the ASX 200 is expected to open the day 14 points or 0.2% lower. 

This follows a mixed night of trade on Wall Street, which saw the Dow Jones fall 0.44%, the S&P 500 rise 0.23%, and the Nasdaq storm 0.98% higher.



















						Asian stocks fall for 2nd day after new Wall St record
					

BEIJING (AP) — Asian stock markets declined for a second day Tuesday after Wall Street hit a new high on tech stock gains and the World Bank raised its forecast of Chinese economic growth. Market benchmarks in Shanghai, Tokyo and Hong Kong retreated.




					apnews.com
				




*Tech gains nudge S&P 500, Nasdaq further into record heights*

By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — Strength for tech stocks nudged U.S. indexes a bit further into record heights Monday, more than making up for losses across much of the rest of Wall Street.

The S&P 500 rose 9.91 points, or 0.2%, to 4,290.61 after drifting between small gains and losses for much of the day. It added to its all-time high set Friday as optimism builds about the strengthening economy and expectations that the Federal Reserve will keep interest rates low for a while longer.

Healthy gains for Nvidia, Facebook and other stocks that have been winners of the increasingly online world helped the Nasdaq composite also tick further into record heights. It rose 140.12, or 1%, to 14,500.51. But the majority of stocks in the S&P 500 and across Wall Street weakened, and the Dow Jones Industrial Average dropped 150.57, or 0.4%, to 34,283.27.

Trading was relatively quiet around the world, with European stocks modestly lower and several Asian indexes nearly unchanged.

The action was more notable in the bond market, where the yield on the 10-year Treasury slumped to 1.47% from 1.53% late Friday. It was as high as 1.70% last month, but it’s been receding as worries about high inflation have calmed a bit.

The drop in long-term rates can crimp the profits banks make from lending money, and financial stocks were some of the biggest drags on the S&P 500. Wells Fargo slipped 1.3%, and Capital One Financial fell 2.5%.

But falling Treasury yields can also make the high price tags for high-growth stocks easier to justify, and gains for tech stocks were the main reason for the S&P 500′s strength.

Apple rose 1.3%, Microsoft gained 1.4% and Intel climbed 2.8%. Nvidia jumped 5% after The Sunday Times in Britain reported several big customers of U.K. semiconductor company Arm came out in support of its proposed takeover by Nvidia.

Facebook climbed 4.2% after a federal judge dismissed antitrust lawsuits brought against it by the Federal Trade Commission and a group of state attorneys general.

Still, worries remain on Wall Street, and a measure of nervousness in the stock market ticked up by about 1%.

Some measures of the economy may have already hit their peaks after roaring out of the recession caused by the pandemic. Stock prices look expensive to critics after rising much faster than corporate profits. And inflation remains a worry, even if more investors have come around to the Federal Reserve’s view that it will be only a temporary problem.

Much of the choppiness in the markets is a result of the speed at which the economy has bounced back from its pandemic slump.

“When you come out of it rapidly it starts to raise concerns for investors, but I would remind them that we are still early in a cycle,” said Brian Levitt, global market strategist at Invesco. “I would expect this to play out over time.”

The next turning point for the market could come on Friday, when the U.S. government gives the latest monthly update on how many jobs the economy is creating and what wages are doing.

Economists expect the report to show that employers added 700,000 more jobs than they cut in June. That would be an acceleration following a couple months of disappointingly slow hiring.

They also expect the report to show that average hourly earnings jumped 3.7% in June from a year earlier.

A sharp rise in wages would be an even bigger worry about inflation for markets than the recent jump in commodity prices. Oil, lumber and other commodities have shown this year that they can quickly shoot higher in price, but they can also come down nearly as quickly.

Higher wages for workers, meanwhile, tend to be more durable. If inflation does end up being more than the “transitory” problem that the Fed and many investors seem to believe, that could force the Fed to be more aggressive about raising interest rates quickly and upset markets.

Crude oil prices slipped Monday, but the cost of a U.S. barrel is still up 50% for the year. That’s contributed to gasoline prices that are about 90 cents higher than this time last year.


----------



## bigdog

*Stocks hold steady at records in quiet day on Wall Street*

U.S. stocks drifted further into record heights in a listless day of trading on Tuesday, as Wall Street waits for the heavyweight economic data coming at the end of the week.

The S&P 500 inched up by 1.19 points, or less than 0.1%, to 4,291.80 and added to its all-time high set a day earlier. More stocks fell than rose within the index, but gains for tech companies made up for weakness for banks and utilities.

The Dow Jones Industrial Average edged higher by 9.02 points, or less than 0.1%, to 34,292.29. The Nasdaq composite added 27.83, or 0.2%, to its record high from a day before and finished at 14,528.33.

Stocks have set their recent records on optimism that the economy is strengthening and that the Federal Reserve will keep interest rates low for a while longer.

A report released Tuesday morning showed a measure of confidence among U.S. consumers is continuing to rise, beating economists’ expectations for a slight decline. That’s key for an economy made up mostly of spending by consumers.

A separate report showed that home prices across the country rose again in April, continuing their blistering pace.

With one day left in June, the market is getting ready to close out a strong first half of the year. The S&P 500 is on track for a gain of 14.3%, more than double its average for a full year, going back to the start of the millennium.

Technology stocks did much of Tuesday’s heavy lifting for the broader market. Apple rose 1.2%, and Microsoft gained 1%.

Major banks announced plans to return billions of dollars to their shareholders through dividend increases and stock buybacks after passing the Federal Reserve’s most recent “stress tests.”

Morgan Stanley rose 3.4% after announcing a doubling of its dividend and plans to buy back $12 billion of its own stock. Other bank stocks were mixed following their own announcements. Goldman Sachs rose 1.1%, but Bank of America fell 1.6%. As a group, financial stocks in the S&P 500 fell.

ASX 200 expected to rise​The Australian share market looks set to push higher on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 25 points or 0.35% higher this morning. 

This follows a reasonably positive night of trade on Wall Street which saw the Dow Jones and S&P 500 rise slightly and the Nasdaq push 0.2% higher.


















						Asian shares advance despite weaker factory data, outbreaks
					

BANGKOK (AP) — Shares were mostly higher in Asia on Wednesday despite new data showing factory activity slowed this month as virus outbreaks disrupted shipping at some Chinese ports.  Markets advanced in Tokyo, Shanghai, Sydney and Seoul but edged lower in Hong Kong.




					apnews.com
				




*Stocks hold steady at records in quiet day on Wall Street*

By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — U.S. stocks drifted further into record heights in a listless day of trading on Tuesday, as Wall Street waits for the heavyweight economic data coming at the end of the week.

The S&P 500 inched up by 1.19 points, or less than 0.1%, to 4,291.80 and added to its all-time high set a day earlier. More stocks fell than rose within the index, but gains for tech companies made up for weakness for banks and utilities.

The Dow Jones Industrial Average edged higher by 9.02 points, or less than 0.1%, to 34,292.29. The Nasdaq composite added 27.83, or 0.2%, to its record high from a day before and finished at 14,528.33.

Stocks have set their recent records on optimism that the economy is strengthening and that the Federal Reserve will keep interest rates low for a while longer.

A report released Tuesday morning showed a measure of confidence among U.S. consumers is continuing to rise, beating economists’ expectations for a slight decline. That’s key for an economy made up mostly of spending by consumers.

A separate report showed that home prices across the country rose again in April, continuing their blistering pace.

With one day left in June, the market is getting ready to close out a strong first half of the year. The S&P 500 is on track for a gain of 14.3%, more than double its average for a full year, going back to the start of the millennium.

Technology stocks did much of Tuesday’s heavy lifting for the broader market. Apple rose 1.2%, and Microsoft gained 1%.

Major banks announced plans to return billions of dollars to their shareholders through dividend increases and stock buybacks after passing the Federal Reserve’s most recent “stress tests.”

Morgan Stanley rose 3.4% after announcing a doubling of its dividend and plans to buy back $12 billion of its own stock. Other bank stocks were mixed following their own announcements. Goldman Sachs rose 1.1%, but Bank of America fell 1.6%. As a group, financial stocks in the S&P 500 fell.

The big piece of economic data this week will be Friday’s jobs report for June. Economists expect it to show U.S. employers created 675,000 more jobs than they cut, with the unemployment rate falling to 5.7%.

Job growth has been choppy recently, with gains falling disappointingly short of economists’ expectations in recent months. That’s key because the Fed is likely to keep up its support for the economy through low interest rates as long as the job market looks like it needs help.

“This Friday’s unemployment number is pretty important because its going to determine the trajectory of when the Fed is actually going to adjust its policies,” said Andrew Slimmon, portfolio manager at Morgan Stanley Investment Management.

The central bank, meanwhile, has stuck by its position that high inflation is likely to be only temporary. That would allow it to keep interest rates low for longer than it otherwise would.

Long-term bond yields have leveled out after jumping earlier in the year in part because of inflation concerns. The yield on the 10-year Treasury dipped to 1.47% from 1.48% late Monday.


----------



## stephen1968

What instruments are you using to trade the DOW? Also what spread? Thank you!


----------



## bigdog

*Wall Street closes out its 5th straight quarterly gain*

Wall Street closed out its fifth straight quarterly gain Wednesday, continuing its comeback from a steep drop in early 2020 at the onset of the coronavirus pandemic.

The S&P 500 edged up 0.1%, bringing its advance over the past three months to 8.2% and 14.4% for the first half of the year. The benchmark index finished June with a 2.2% gain and its third straight all-time high as it extended its winning streak to a fifth day.

Stocks have been pushing higher on optimism that the economy is strengthening and that the Federal Reserve will keep interest rates low for a while longer.

“The Fed has sort of kept the proverbial spigot open, if you will, with liquidity, so there’s still a pretty sizable amount of capital out there looking for a place to go,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab.

Meanwhile, concerns about inflation earlier this year have dissipated somewhat, as investors have become increasingly convinced that the rise in prices for everything from food to oil to lumber is temporary and a result of the U.S. economy recovering from the pandemic.

Trading Wednesday was relatively subdued as investors wait for the government’s monthly jobs report due out Friday.

“We’re definitely in the doldrums of summer; volatility and volume will probably be pretty light,” said Jason Pride, chief investment officer of private wealth at Glenmede.

The S&P 500 index rose 5.70 points to 4,297.50. The Dow Jones Industrial Average added 210.22 points, or 0.6%, to 34,502.51. The Nasdaq composite fell 24.38 points, or 0.2%, to 14,503.95. The tech-heavy index hit record highs on Monday and Tuesday.

The Russell 2000 index of small company stocks rose 1.71 points, or 0.1%, to 2,310.55.

Many professional investors along Wall Street say stocks can keep rising from here, just not as much as they did during the first half of the year.

Interest rates remain low, even if the Federal Reserve recently indicated it could start raising rates in about two years. And with the economy continuing to strengthen, supporters say stocks should be able to tick higher even if their prices have climbed faster than corporate profits and look expensive compared with history.

At the Wells Fargo Investment Institute, for example, the forecast is for record corporate earnings this year to help the S&P 500 rise to between 4,400 and 4,600 by the end of 2021. That would mean a gain between 2.4% and 7% from the index’s current level of 4,297.

Some are more pessimistic, though, amid concerns that several measures of growth in the economy have already hit their peak.

ASX 200 expected to edge lower​The Australian share market looks set to edge lower on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 3 points or 0.05% lower this morning. 

This follows a mixed night of trade on Wall Street, which saw the Dow Jones rise 0.61%, the S&P 500 climb 0.13%, and the Nasdaq fall 0.17%



















						Asian shares mostly decline ahead of watched US jobs report
					

TOKYO (AP) — Asian shares were mostly lower on Thursday as investors awaited a much watched U.S. jobs for indications of how the recovery from the pandemic is faring. Japan's benchmark Nikkei 225 slipped 0.5% in early trading to 28,660.33, while South Korea's Kospi lost 0.4% to 3,283.57.




					apnews.com
				




*Wall Street closes out its 5th straight quarterly gain*

By DAMIAN J. TROISE, ALEX VEIGA and STAN CHOE

Wall Street closed out its fifth straight quarterly gain Wednesday, continuing its comeback from a steep drop in early 2020 at the onset of the coronavirus pandemic.

The S&P 500 edged up 0.1%, bringing its advance over the past three months to 8.2% and 14.4% for the first half of the year. The benchmark index finished June with a 2.2% gain and its third straight all-time high as it extended its winning streak to a fifth day.

Stocks have been pushing higher on optimism that the economy is strengthening and that the Federal Reserve will keep interest rates low for a while longer.

“The Fed has sort of kept the proverbial spigot open, if you will, with liquidity, so there’s still a pretty sizable amount of capital out there looking for a place to go,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab.

Meanwhile, concerns about inflation earlier this year have dissipated somewhat, as investors have become increasingly convinced that the rise in prices for everything from food to oil to lumber is temporary and a result of the U.S. economy recovering from the pandemic.

Trading Wednesday was relatively subdued as investors wait for the government’s monthly jobs report due out Friday.

“We’re definitely in the doldrums of summer; volatility and volume will probably be pretty light,” said Jason Pride, chief investment officer of private wealth at Glenmede.

The S&P 500 index rose 5.70 points to 4,297.50. The Dow Jones Industrial Average added 210.22 points, or 0.6%, to 34,502.51. The Nasdaq composite fell 24.38 points, or 0.2%, to 14,503.95. The tech-heavy index hit record highs on Monday and Tuesday.

The Russell 2000 index of small company stocks rose 1.71 points, or 0.1%, to 2,310.55.

Many professional investors along Wall Street say stocks can keep rising from here, just not as much as they did during the first half of the year.

Interest rates remain low, even if the Federal Reserve recently indicated it could start raising rates in about two years. And with the economy continuing to strengthen, supporters say stocks should be able to tick higher even if their prices have climbed faster than corporate profits and look expensive compared with history.

At the Wells Fargo Investment Institute, for example, the forecast is for record corporate earnings this year to help the S&P 500 rise to between 4,400 and 4,600 by the end of 2021. That would mean a gain between 2.4% and 7% from the index’s current level of 4,297.

Some are more pessimistic, though, amid concerns that several measures of growth in the economy have already hit their peak.

Barry Bannister, chief equity strategist at Stifel, says U.S. manufacturing growth likely topped out in March, for example. He sees the recent pullback of stimulus in China leading to slower growth around the world and helping to knock the S&P 500 down to 3,800 in the second half of the year.

So far this year, energy stocks continue to lead the way higher among the 11 sectors in the S&P 500 with a gain of 42.4%. Financials are the next-biggest gainer, up 24.5%, while real estate companies are up 21.7%. Technology companies, the biggest gainers in 2020, are up 13.2%. Utilities lag the rest of the market through the first half of this year with a gain of 0.8%.

As inflation concerns have receded through much of the quarter, that’s helped push solid gains for technology companies. Tech stocks have been the biggest gainers in the S&P 500 this quarter with a 12.9% rise. The sector is viewed as a high-growth area of the market, which tends to do better when inflation is low.

“Inflation expectations got too high,” Pride said. “When they backed off, that was kind of a natural thing.”

Meanwhile, some rising concerns over COVID-19 variants also prompted investors to put more money into the sector, which did particularly well during the height of the pandemic.

For the April-June quarter, American Express led the way higher among the 30 stocks in the Dow with a 17.8% gain. Goldman Sachs Group was a close second-best with a 16.1% advance. Intel fared the worst, losing 12.3%.

Industrial, financial and energy companies were among the winners Wednesday. Those gains were kept in check by a pullback in technology, communication and real estate stocks.

Treasury yields mostly fell. The yield on the 10-year Treasury note fell to 1.47% from 1.48% late Tuesday.

Crop prise rose after the government reported that U.S. farmers planted fewer acres of corn and soybeans than had been expected.

Investors got another dose of good economic news on Wednesday when payroll processor ADP said the private sector created 692,000 jobs last month. above economists’ forecasts. The big jobs data point will come on Friday, when the monthly jobs report is released. Economists are expecting employers created 675,000 jobs last month, and the unemployment rate fell to 5.7%.

Didi Global, a Chinese ride-hailing service, rose 1% in its U.S. stock market debut. The company’s initial public offering of 288 million shares was priced at $14 a share.


----------



## bigdog

*Wall Street hits another record; energy stocks, banks gain*

Stocks finished broadly higher on Wall Street Thursday, adding to the gains that helped the market close out its best first half of a year since the dotcom bubble.

The S&P 500 rose 0.5%, marking its sixth straight gain and fourth consecutive record high. The price of U.S. crude oil rose more than 2%, giving a boost to energy companies. Bond yields edged higher and helped lift bank stocks. Health care and communication companies also helped lift the market. The consumer staples sector was the only laggard, weighed down by a pullback in shares of Walgreens Boots Alliance.

Investors have been encouraged by data that show the economy continues its recovery from the pandemic. The latest weekly unemployment report showed the lowest number of claims for jobless aid since the pandemic walloped the economy. The highly anticipated jobs report for June comes out Friday.

“Investors are eager to see whether or not the labor market continues to recover as quickly as expected,” said Charlie Ripley, senior investment strategist for Allianz Investment Management.

The S&P 500 index rose 22.44 points to 4,319.94. The Dow Jones Industrial Average gained 131.02 points, or 0.4%, to 34,633.53. The technology-heavy Nasdaq Composite added 18.42 points, or 0.1%, to 14,522.38.

Small company stocks fared better than the rest of the market. The Russell 2000 index of smaller companies rose 18.81 points, or 0.8%, to 2,329.36.

The benchmark S&P 500 ended the first half of 2021 up 14.5%, it’s best six month period since 1998, as investors have embraced the post-pandemic economic recovery and set aside worries about inflation.

Employment has been one of the shakier areas of the economic recovery and has lagged other measures such as consumer confidence and retail sales. Economists and analysts have said that a much fuller and more stable recovery is dependent on more people going back to work.

On Friday investors will get the June jobs report. Economists surveyed by FactSet expect the U.S. economy created 675,000 jobs last month, and the unemployment rate fell to 5.7%.

*ASX 200 expected to rebound*

The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 31 points or 0.4% higher this morning.

This follows a solid night on Wall Street which saw the Dow Jones rise 0.38%, the S&P 500 climb 0.52%, and the Nasdaq push 0.13% higher.











https://apnews.com/article/financia...rus-pandemic-4ce2546ea75493a5d4d506f4df9f77a8

*Wall Street hits another record; energy stocks, banks gain*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks finished broadly higher on Wall Street Thursday, adding to the gains that helped the market close out its best first half of a year since the dotcom bubble.

The S&P 500 rose 0.5%, marking its sixth straight gain and fourth consecutive record high. The price of U.S. crude oil rose more than 2%, giving a boost to energy companies. Bond yields edged higher and helped lift bank stocks. Health care and communication companies also helped lift the market. The consumer staples sector was the only laggard, weighed down by a pullback in shares of Walgreens Boots Alliance.

Investors have been encouraged by data that show the economy continues its recovery from the pandemic. The latest weekly unemployment report showed the lowest number of claims for jobless aid since the pandemic walloped the economy. The highly anticipated jobs report for June comes out Friday.

“Investors are eager to see whether or not the labor market continues to recover as quickly as expected,” said Charlie Ripley, senior investment strategist for Allianz Investment Management.

The S&P 500 index rose 22.44 points to 4,319.94. The Dow Jones Industrial Average gained 131.02 points, or 0.4%, to 34,633.53. The technology-heavy Nasdaq Composite added 18.42 points, or 0.1%, to 14,522.38.

Small company stocks fared better than the rest of the market. The Russell 2000 index of smaller companies rose 18.81 points, or 0.8%, to 2,329.36.

The benchmark S&P 500 ended the first half of 2021 up 14.5%, it’s best six month period since 1998, as investors have embraced the post-pandemic economic recovery and set aside worries about inflation.

Employment has been one of the shakier areas of the economic recovery and has lagged other measures such as consumer confidence and retail sales. Economists and analysts have said that a much fuller and more stable recovery is dependent on more people going back to work.

On Friday investors will get the June jobs report. Economists surveyed by FactSet expect the U.S. economy created 675,000 jobs last month, and the unemployment rate fell to 5.7%.

The June jobs report is also being closely watched as a potential gauge for when the Federal Reserve might start easing its bond purchases and other measures that have kept interest rates low. Inflation fears have somewhat subsided, but investors are still trying to figure out whether rising inflation will be temporary or more long-lasting.

As part of the jobs report, investors will look to see if wages kept rising, which could add to inflation.

“All of these things are feeding into whether the Fed makes material changes to policy in near future,” Ripley said.

Airlines and other travel-related companies that have been battered by the pandemic gained ground following the latest upbeat unemployment data. Delta Air Lines rose 2.2% and Marriott gained 2%.

The yield on the 10-year Treasury note rose to 1.46% from 1.44% the day before.

Oil prices jumped as OPEC met. The group of oil-producing countries is considering whether to increase production as the global economy recovers from the pandemic. Oil prices along with other raw materials have risen steadily this year as demand has increased. Oil gained 2.4% Thursday and is up 55% so far this year.

“Crude oil has really been the story of the day,” said J.J. Kinahan, chief strategist with TD Ameritrade. “Crude oil, because almost everybody is going to use gasoline directly to drive somewhere, that’s going to hit people’s pocket books a lot quicker and has a lot bigger effect.”

Higher oil prices translated into higher energy company stocks. Occidental Petroleum rose 5.1%, ConocoPhillips gained 3.3% and Marathon Oil added 4%. The energy sector of the S&P 500 was the biggest winner in the first half of the year with a gain of over 40%.

Doughnut chain Krispy Kreme climbed 23.5% in its debut on the Nasdaq. The Charlotte, North Carolina-based company, known for its glazed doughnuts, priced its initial public offering of 29.4 million shares at $17 a piece, which was well below the $21 to $24 it was seeking. This marks Krispy Kreme’s second stint as a public company.


----------



## bigdog

*U.S. stock markets will be closed Monday in observance of Independence Day.

Stocks again post records following encouraging jobs data*

Wall Street capped a milestone-shattering week Friday with stock indexes hitting more record highs as investors welcomed a report showing the nation’s job market was even stronger last month than expected.

The S&P 500 rose 0.8%, its seventh straight gain and seventh consecutive all-time high. The benchmark index also notched its second weekly gain in a row. The Nasdaq also set a record, getting a boost from technology stocks, which led the broad market rally. The only laggards were energy stocks and banks, which fell as Treasury yields headed lower.

Indexes climbed as soon as trading opened, after a U.S. government report said employers hired 850,000 more workers than they cut last month. It was a healthier reading than the 700,000 economists expected and an acceleration following a couple months of disappointing growth.

Still, unemployment remains well above the 3.5% rate that prevailed before the pandemic struck, and the economy remains 6.8 million jobs short of its pre-pandemic level. And while wages grew in June, the increase was less than expected, a good sign for investors worried about inflation pressures.

Economists took the report as a sign that workers will indeed come back into the labor force as more people get vaccinated and the pandemic eases. Perhaps more importantly for markets, some said the numbers likely mean the Federal Reserve can stay on the course it’s set, keeping interest rates low for a while longer to support the economy.

“The wage inflation number didn’t pick up to the degree some people were anticipating, so that’s probably a little bit reassuring to the market as well,” said Andrew Mies, chief investment officer at investment advisory firm 6 Meridien.

The S&P 500 rose 32.40 points to 4,352.34. The Dow Jones Industrial Average gained 152.82 points, or 0.4%, to 34,786.35. The Nasdaq composite added 116.95 points, or 0.8%, to 14,639.33.

Smaller stocks in the Russell 2000 lagged. The index fell 23.60 points, or 1%, to 2,305.76.

Treasury yields were flat to lower following the jobs report, and the yield on the 10-year Treasury fell to 1.43% from 1.48% late Thursday.

Low interest rates help drive up prices for all kinds of stocks, but they provide particularly powerful fuel for high-growth companies whose prices may otherwise look expensive.

That helped push several influential tech-oriented stocks higher Friday. Microsoft gained 2.2%, and Apple rose 2%. Because those companies are so big, their stock movements carry extra heft for indexes, and they helped make up for losses by energy producers and financial companies.

Virgin Galactic rose 4.1% after saying it hopes to launch a test spaceflight on July 11, with its founder Richard Branson on board.

U.S.-listed shares of Didi, a Chinese ride-hailing service, slumped 5.3% after China’s internet watchdog said it launched an investigation into the ride-hailing company to protect national security and public interest. Its shares began trading in New York on Wednesday.

Markets in both Europe and Asia were mixed.










https://apnews.com/article/financia...mic-business-543147e0bd3017883e1dfe47910f4ad7

*Stocks again post records following encouraging jobs data*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped a milestone-shattering week Friday with stock indexes hitting more record highs as investors welcomed a report showing the nation’s job market was even stronger last month than expected.

The S&P 500 rose 0.8%, its seventh straight gain and seventh consecutive all-time high. The benchmark index also notched its second weekly gain in a row. The Nasdaq also set a record, getting a boost from technology stocks, which led the broad market rally. The only laggards were energy stocks and banks, which fell as Treasury yields headed lower.

Indexes climbed as soon as trading opened, after a U.S. government report said employers hired 850,000 more workers than they cut last month. It was a healthier reading than the 700,000 economists expected and an acceleration following a couple months of disappointing growth.

Still, unemployment remains well above the 3.5% rate that prevailed before the pandemic struck, and the economy remains 6.8 million jobs short of its pre-pandemic level. And while wages grew in June, the increase was less than expected, a good sign for investors worried about inflation pressures.

Economists took the report as a sign that workers will indeed come back into the labor force as more people get vaccinated and the pandemic eases. Perhaps more importantly for markets, some said the numbers likely mean the Federal Reserve can stay on the course it’s set, keeping interest rates low for a while longer to support the economy.

“The wage inflation number didn’t pick up to the degree some people were anticipating, so that’s probably a little bit reassuring to the market as well,” said Andrew Mies, chief investment officer at investment advisory firm 6 Meridien.

The S&P 500 rose 32.40 points to 4,352.34. The Dow Jones Industrial Average gained 152.82 points, or 0.4%, to 34,786.35. The Nasdaq composite added 116.95 points, or 0.8%, to 14,639.33.

Smaller stocks in the Russell 2000 lagged. The index fell 23.60 points, or 1%, to 2,305.76.

Treasury yields were flat to lower following the jobs report, and the yield on the 10-year Treasury fell to 1.43% from 1.48% late Thursday.

Low interest rates help drive up prices for all kinds of stocks, but they provide particularly powerful fuel for high-growth companies whose prices may otherwise look expensive.

That helped push several influential tech-oriented stocks higher Friday. Microsoft gained 2.2%, and Apple rose 2%. Because those companies are so big, their stock movements carry extra heft for indexes, and they helped make up for losses by energy producers and financial companies.

The Fed has said it will keep rates low to help strengthen the job market, and Friday’s report suggested to several investors that growth in jobs or inflation wasn’t high enough to alter its course. Average hourly wages for workers were 3.6% higher in June than a year ago, but the rise from May was slightly below economists’ expectations at 0.3%.

“Maybe with wage growth and inflation having peaked, we can get past the peak fears of some sort of wage-price doom-loop,” said Brian Jacobsen, senior investment strategist, Wells Fargo Asset Management.

The Fed has been insisting that the higher inflation hitting the economy now will be only temporary, which would give it more leeway to keep its support for the economy in place. Many investors expect it to announce a pullback in its bond purchases later this year, well before expectations for the Fed to move short-term rates off their record low in 2022 or 2023.

If job growth or inflation is stronger and more persistent than expected, though, it could force the Fed to move up its timetable and raise rates more aggressively.

“The Fed wants to let the economy run as hot as possible and the let the unemployment rate get as low as possible without triggering hot inflation,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. “Inflation may run hot, and that could speed up plans for tapering, but as far as raising rates I think they are still going to wait a long time.”

Virgin Galactic rose 4.1% after saying it hopes to launch a test spaceflight on July 11, with its founder Richard Branson on board.

U.S.-listed shares of Didi, a Chinese ride-hailing service, slumped 5.3% after China’s internet watchdog said it launched an investigation into the ride-hailing company to protect national security and public interest. Its shares began trading in New York on Wednesday.

Markets in both Europe and Asia were mixed.

U.S. stock markets will be closed Monday in observance of Independence Day.


----------



## bigdog

*U.S. stock markets will be closed Monday in observance of Independence Day.*

ASX 200 expected to open flat​The Australian share market is expected to start the week where it ended it. According to the latest SPI futures, the ASX 200 is expected to open the day flat. 

This is despite a very positive end to the week on Wall Street, which saw the Dow Jones rise 0.45%, the S&P 500 climb 0.75%, and the Nasdaq storm 0.8% higher.


----------



## bigdog

https://apnews.com/article/financia...rus-pandemic-fcc344d96997707e3dd4fe457eb325b2

*World shares mixed, US markets closed for Independence Day*

By ELAINE KURTENBACH

BANGKOK (AP) — Global shares were mixed Monday in quiet trading, with U.S. markets set to be closed for the Independence Day holiday.

London and Shanghai advanced, while Paris, Tokyo and Hong Kong declined.

U.S. futures edged lower after Wall Street capped a milestone-shattering week Friday with stock indexes hitting more record highs as investors welcomed a report showing the nation’s job market was even stronger last month than expected.

Oil prices reversed early losses ahead of a meeting of oil producing nations as the United Arab Emirates pushed back against a plan by the OPEC oil cartel and allied producing countries to extend a global pact to cut oil production beyond April 2022.

Benchmark U.S. crude oil picked up 22 cents to $75.38 per barrel in electronic trading on the New York Mercantile Exchange. It shed 7 cents on Friday to $75.16 per barrel. Brent crude, the international standard, added 30 cents to $76.47 per barrel.

The UAE, one of OPEC’s largest oil producers, wants to increase its output — setting up a contest with ally and OPEC heavyweight Saudi Arabia, which has led a push to keep a tight lid on production.

The combined OPEC Plus grouping of members led by Saudi Arabia and non-members, chief among them Russia, failed to reach an agreement Friday on oil output. Negotiations over the dispute are set to resume Monday.

Germany’s DAX lost 0.4% to 15,595.75 and the CAC 40 in Paris shed 0.2% to 6,545.19. Britain’s FTSE 100 edged 0.1% higher to 7,133.40. The future for the S&P 500 lost 0.1% and that for the Dow industrials fell less than 0.1%.

Worries remain across Asia about rising coronavirus cases as outbreaks of new infections overtake vaccination efforts. In Thailand and Indonesia, local authorities have reported record high new cases.

Tokyo’s Nikkei 225 lost 0.6% to 28,598.19 and the Hang Seng in Hong Kong declined 0.7% to 28,143.50. The Shanghai Composite index gained 0.4% to 3,534.32 and South Korea’s Kospi picked up 0.4% to 3,293.21. In Australia, the S&P/ASX 200 edged 0.1% higher to 7,315.00.

China announced over the weekend that Chinese ride-hailing service Didi would be removed from app stores in the country in the latest blow after its shares began trading in New York on June 30.

The U.S.-listed shares of Didi slumped 5.3% on Friday after China’s internet watchdog said it launched an investigation into the company to protect national security and public interest.

ASX 200 expected to rise​The Australian share market looks set to push higher again this morning. According to the latest SPI futures, the ASX 200 is expected to open the day 14 points or 0.2% higher. 

This follows a positive start to the week on European markets, which saw the FTSE rise 0.6%, the CAC rise 0.2%, and the DAX edge 0.1% higher. Wall Street was closed for the Independence Day holiday.



*U.S. stock markets were closed Monday in observance of Independence Day.*





*REST of WORLD TRADING*


----------



## bigdog

*S&P 500 sees 1st decline after 7 straight gains; oil falls *

Banks and energy companies helped pull stocks mostly lower on Wall Street Tuesday, ending the S&P 500′s seven-day run of record high closes.

The benchmark index fell 0.2% after having been down 0.9%. The Dow Jones Industrial Average fell 0.6%. Tech stocks rose, helping the Nasdaq to a modest gain that nudged the index to an all-time high.

Oil prices retreated after jumping overnight when talks among members of the OPEC cartel and allied oil producing countries broke off amid a standoff with the United Arab Emirates over production levels. The news dragged energy stocks lower.

Bond prices rose, sending the yield on the 10-year Treasury to its lowest level since February. The decline in bond yields weighed on banks, which led the slide in the S&P 500.

“We had a really strong move coming into this week,” said Mark Hackett, chief of investment research at Nationwide. “It’s almost natural to have a pullback when you have that kind of move.”

The S&P 500 dropped 8.80 points to 4,343.54. The index notched seven consecutive record highs from June 24 through last Friday, gaining 2.6% during that period. It’s now up 15.6% for the year.

The Dow fell 208.98 points, or 0.6%, to 34,577.37, while the Nasdaq Composite rose 24.32 points, or 0.2%, to 14,663.64. The tech-heavy index also set a record high on Friday.

The Russell 2000 index of smaller stocks has some of the biggest losses, sliding 31.26 points, or 1.4%, to 2,274.50.

The market sell-off got going early following a report showing growth in the services sector, where most Americans work, slowed in June following record expansion in May.

Longer-term Treasury yields sank as the report suggested this year’s surge in inflation may have already peaked and as nervousness rose in the market.

The 10-year Treasury yield dropped to 1.36% from 1.44% on Friday and is back to where it was in February. It had rallied powerfully earlier this year on worries that inflation was set to burst to dangerous levels as the economy roared back to life.

The report indicated prices that U.S. services businesses are paying rose at a slower rate last month. Exam gloves and masks got cheaper, for example, and the price index for the U.S. services industry decelerated to 79.5 in June after hitting a peak of 80.6 in May, according to the Institute for Supply Management. Any reading above 50 indicates growth.

More broadly, the services industry’s growth slowed last month, and by more than economists expected. That fits into Wall Street’s increasing belief that growth for many areas of the economy is peaking or has done so already.

The market is currently in a summer lull, with investors having little to act on until next week, when corporate earnings season starts up again. Investors face a holiday shortened week this week, since stock markets were closed on Monday.

“When you have a void of information, emotion tends to drive decision making and you’re certainly seeing that in the equity market,” Hackett said.

Shares of ride-hailing company Didi Global dropped 19.6%. That follows a 5% drop Friday after China announced it would investigate the cybersecurity practices of three ride technology companies, including Didi. The government has also announced cybersecurity reviews of Full Truck Alliance, the operator of two truck logistics platforms and Kanzhun Ltd., operator of an online recruitment outfit. Full Truck dropped 6.7% and Kanzhun fell 15.9%.

Amazon jumped 4.7% after the Pentagon said it is canceling a cloud-computing contract with Microsoft that could eventually have been worth $10 billion and will instead pursue a deal with both Microsoft and Amazon. Microsoft shares were little changed.

ASX 200 expected to fall​The Australian share market looks set to edge lower on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 4 points or 0.1% lower this morning. 

This follows a poor start to the shortened week on Wall Street, which saw the Dow Jones fall 0.6%, the S&P 500 drop 0.2%, and the Nasdaq push 0.17% higher.


















						Asian stocks follow Wall St lower on weak US services data
					

BEIJING (AP) — Asian stock markets followed Wall Street lower Wednesday after U.S. services activity weakened. Market benchmarks in Tokyo, Hong Kong and Seoul declined. Shanghai swung between gains and losses.




					apnews.com
				




*S&P 500 sees 1st decline after 7 straight gains; oil falls *

By DAMIAN J. TROISE and ALEX VEIGA

Banks and energy companies helped pull stocks mostly lower on Wall Street Tuesday, ending the S&P 500′s seven-day run of record high closes.

The benchmark index fell 0.2% after having been down 0.9%. The Dow Jones Industrial Average fell 0.6%. Tech stocks rose, helping the Nasdaq to a modest gain that nudged the index to an all-time high.

Oil prices retreated after jumping overnight when talks among members of the OPEC cartel and allied oil producing countries broke off amid a standoff with the United Arab Emirates over production levels. The news dragged energy stocks lower.

Bond prices rose, sending the yield on the 10-year Treasury to its lowest level since February. The decline in bond yields weighed on banks, which led the slide in the S&P 500.

“We had a really strong move coming into this week,” said Mark Hackett, chief of investment research at Nationwide. “It’s almost natural to have a pullback when you have that kind of move.”

The S&P 500 dropped 8.80 points to 4,343.54. The index notched seven consecutive record highs from June 24 through last Friday, gaining 2.6% during that period. It’s now up 15.6% for the year.

The Dow fell 208.98 points, or 0.6%, to 34,577.37, while the Nasdaq Composite rose 24.32 points, or 0.2%, to 14,663.64. The tech-heavy index also set a record high on Friday.

The Russell 2000 index of smaller stocks has some of the biggest losses, sliding 31.26 points, or 1.4%, to 2,274.50.

The market sell-off got going early following a report showing growth in the services sector, where most Americans work, slowed in June following record expansion in May.

Longer-term Treasury yields sank as the report suggested this year’s surge in inflation may have already peaked and as nervousness rose in the market.

The 10-year Treasury yield dropped to 1.36% from 1.44% on Friday and is back to where it was in February. It had rallied powerfully earlier this year on worries that inflation was set to burst to dangerous levels as the economy roared back to life.

The report indicated prices that U.S. services businesses are paying rose at a slower rate last month. Exam gloves and masks got cheaper, for example, and the price index for the U.S. services industry decelerated to 79.5 in June after hitting a peak of 80.6 in May, according to the Institute for Supply Management. Any reading above 50 indicates growth.

More broadly, the services industry’s growth slowed last month, and by more than economists expected. That fits into Wall Street’s increasing belief that growth for many areas of the economy is peaking or has done so already.

“What I took from that is that economic growth is slowing,” said Sam Stovall, chief investment strategist at CFRA.

The report would also give credence to the Federal Reserve’s insistence that inflation looks to be only a temporary problem.

The lower yields pressured banks, which rely on higher yields to charge more lucrative interest on loans. Bank of America fell 2.6% and Citigroup fell 3.1%.

Oil prices pulled back amid a dispute among oil producers over production levels. The U.S. benchmark crude oil price fell 2.4% to $73.37; it earlier rose to $76.98, the highest level since November 2014.

Falling oil prices dragged down energy companies. Exxon Mobil fell 2.8% and Chevron fell 2%.

The market is currently in a summer lull, with investors having little to act on until next week, when corporate earnings season starts up again. Investors face a holiday shortened week this week, since stock markets were closed on Monday.

“When you have a void of information, emotion tends to drive decision making and you’re certainly seeing that in the equity market,” Hackett said.

Shares of ride-hailing company Didi Global dropped 19.6%. That follows a 5% drop Friday after China announced it would investigate the cybersecurity practices of three ride technology companies, including Didi. The government has also announced cybersecurity reviews of Full Truck Alliance, the operator of two truck logistics platforms and Kanzhun Ltd., operator of an online recruitment outfit. Full Truck dropped 6.7% and Kanzhun fell 15.9%.

Amazon jumped 4.7% after the Pentagon said it is canceling a cloud-computing contract with Microsoft that could eventually have been worth $10 billion and will instead pursue a deal with both Microsoft and Amazon. Microsoft shares were little changed.


----------



## bigdog

*Stocks close higher, led by gains for tech; bond yields drop*

Wall Street capped a day of choppy trading Wednesday with more record highs for stocks and another drop in bond yields that sends mixed signals about investors’ confidence in the market.

The S&P 500 recovered from an early stumble and rose 0.3% to an all-time high. The benchmark index snapped a 7-day winning streak of high closes a day earlier. The Nasdaq composite also set a record high, its third straight.

Technology, industrial and health care companies accounted for a big share of the gains. Apple rose 1.8%, Otis added 2% and Biogen gained 3%. Those gains were kept in check by a slide in other sectors, including energy, which fell as oil prices dropped 1.6%.

The bond market continued to draw buyers, a trend that has pulled yields sharply lower this week despite economic data showing the economy continues to recover from the pandemic. The yield on the 10-year Treasury fell to 1.32% from 1.37% a day earlier.

“There’s a pretty clear disconnect between stocks and bonds,” said Jon Adams, senior investment strategist at BMO Global Asset Management.

The S&P 500 rose 14.59 points to 4,358.13. The Dow Jones Industrial Average added 104.42 points, or 0.3%, to 34,681.79, while the Nasdaq inched up 1.42 points, or less than 0.1%, to 14,665.06. The Russell 2000 index of smaller stocks slid 21.66 points, or 1%, to 2,252.85.

Stock indexes and Treasury yields had little reaction to the minutes from the June meeting of Federal Reserve policymakers, which showed Fed officials discussed the timing of reducing bond purchases that they have used to keep longer-term interest rates in check.

The discussions signal that the Fed is moving closer to a decision to taper those purchases, though most analysts don’t expect a reduction until late this year. After the last meeting, Fed policymakers said they planned to raise interest rates as soon as 2023, which was sooner than the market expected.

“The bond market is agreeing with what the Fed has talked about in terms of transitory inflation and maybe going a step further and saying we’re not real sure about how resilient this recovery is going to be once some of the stimulus starts to fade,” said Willie Delwiche, investment strategist at All Star Charts. “If there’s some uncertainty about equities, investors are taking this chance to move back into bonds a little bit.”

Longer-term Treasury yields have tumbled since the spring as traders back away from big bets built on expectations for a powerful pickup in inflation and economic growth.

The yield on the 10-year Treasury sank as low as 1.28% Wednesday, down from its perch above 1.75% in March. A month ago, it was trading at around 1.62%. The last time bond yields moved lower so quickly was in March 2020 when the pandemic effectively shut down the U.S. economy.

Longer-term yields tend to move along with investors’ expectations for inflation and economic growth, and both are still very strong and much higher than they’ve been in recent years. But investors along Wall Street increasingly suspect they’ve already topped out as the economy moves past the initial catapult phase of its recovery from the pandemic.

ASX 200 expected to rise​The Australian share market looks set to rise again on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 17 points or 0.2% higher this morning. 

This follows a decent night of trade on Wall Street, which saw the Dow Jones rise 0.3%, the S&P 500 climb 0.34%, and the Nasdaq edge ever so slightly higher.


















						Asian stocks fall after Fed discusses cut in US stimulus
					

BEIJING (AP) — Asian stock markets fell Thursday after the Federal Reserve discussed a possible reduction in U.S. economic stimulus and Japanese officials prepared to declare a coronavirus state of emergency during the Olympics due to a surge in infections.




					apnews.com
				




*Stocks close higher, led by gains for tech; bond yields drop*

By DAMIAN J. TROISE, ALEX VEIGA and STAN CHOE

Wall Street capped a day of choppy trading Wednesday with more record highs for stocks and another drop in bond yields that sends mixed signals about investors’ confidence in the market.

The S&P 500 recovered from an early stumble and rose 0.3% to an all-time high. The benchmark index snapped a 7-day winning streak of high closes a day earlier. The Nasdaq composite also set a record high, its third straight.

Technology, industrial and health care companies accounted for a big share of the gains. Apple rose 1.8%, Otis added 2% and Biogen gained 3%. Those gains were kept in check by a slide in other sectors, including energy, which fell as oil prices dropped 1.6%.

The bond market continued to draw buyers, a trend that has pulled yields sharply lower this week despite economic data showing the economy continues to recover from the pandemic. The yield on the 10-year Treasury fell to 1.32% from 1.37% a day earlier.

“There’s a pretty clear disconnect between stocks and bonds,” said Jon Adams, senior investment strategist at BMO Global Asset Management.

The S&P 500 rose 14.59 points to 4,358.13. The Dow Jones Industrial Average added 104.42 points, or 0.3%, to 34,681.79, while the Nasdaq inched up 1.42 points, or less than 0.1%, to 14,665.06. The Russell 2000 index of smaller stocks slid 21.66 points, or 1%, to 2,252.85.

Stock indexes and Treasury yields had little reaction to the minutes from the June meeting of Federal Reserve policymakers, which showed Fed officials discussed the timing of reducing bond purchases that they have used to keep longer-term interest rates in check.

The discussions signal that the Fed is moving closer to a decision to taper those purchases, though most analysts don’t expect a reduction until late this year. After the last meeting, Fed policymakers said they planned to raise interest rates as soon as 2023, which was sooner than the market expected.

“The bond market is agreeing with what the Fed has talked about in terms of transitory inflation and maybe going a step further and saying we’re not real sure about how resilient this recovery is going to be once some of the stimulus starts to fade,” said Willie Delwiche, investment strategist at All Star Charts. “If there’s some uncertainty about equities, investors are taking this chance to move back into bonds a little bit.”

Longer-term Treasury yields have tumbled since the spring as traders back away from big bets built on expectations for a powerful pickup in inflation and economic growth.

The yield on the 10-year Treasury sank as low as 1.28% Wednesday, down from its perch above 1.75% in March. A month ago, it was trading at around 1.62%. The last time bond yields moved lower so quickly was in March 2020 when the pandemic effectively shut down the U.S. economy.

Longer-term yields tend to move along with investors’ expectations for inflation and economic growth, and both are still very strong and much higher than they’ve been in recent years. But investors along Wall Street increasingly suspect they’ve already topped out as the economy moves past the initial catapult phase of its recovery from the pandemic.

A report on Tuesday showed growth in the U.S. services industry slowed last month, for example, and by more than economists expected.

A wide range of other reasons are behind the sharp drop in yields in recent months, said Adams. Chief among them is growing doubt in the market that the Fed would allow inflation to stay above 2% for a while before raising rates or making other moves to stamp it out, regardless of its new policy to do just that.

Adams also pointed to worries that new variants of COVID-19 could drag down the global economy and increased buying of Treasurys by buyers from countries whose bonds were offering even less in yields.

Lower bond yields can be good for many parts of the economy, however. Mortgage rates are tied closely to bond yields, and government borrowing costs fall when the cost of issuing bonds decreases.

What’s been perhaps as striking as the swift drop for Treasury yields is the relative calmness in the stock market.

“There’s a fundamental reset going on right now where investors are looking beyond 2021 and 2022,” said Katie Nixon, chief investment officer at Northern Trust Wealth Management. “Once we get beyond the recovery, the next normal is probably going to look like the last normal.”


----------



## bigdog

*Stocks pull back from record highs as bond yields sink again*

Stocks closed lower Thursday on Wall Street as bond yields fell again and investors turned cautious following the market’s recent run of record highs.

The S&P 500 fell 0.9%, weighed down by a broad slide driven mainly by technology, financial, industrial and communication companies. The benchmark index’s pullback comes a day after it hit its eighth all-time high in nine trading days.

The yield on the 10-year Treasury note fell to 1.30%, the lowest level since February, after slipping to 1.32% a day earlier. The benchmark yield, which is used to set rates on mortgages and many other kinds of loans, has been falling steadily in recent weeks as traders shift money into bonds. The 10-year yield traded as high as 1.74% at the end of March.

The bond market has been signaling concerns over the strength of the recovery for months, specifically that it may have peaked and is now leveling off to a steadier pace. The stock market has largely ignored those signals, analysts said, but could be coming around to that message amid struggling job growth and lackluster economic reports.

“You can’t ignore what the bond market has been telling us,” said J.J. Kinahan, chief strategist with TD Ameritrade.

The S&P 500 fell 37.31 points to 4,320.82. The Dow Jones Industrial Average lost 259.86 points, or 0.7%, to 34,421.93. The Nasdaq composite snapped a three-day run of closing highs, dropping 105.28 points, or 0.7%, to 14,559.78.

Smaller company stocks also fell. The Russell 2000 index slid 21.17 points, or 0.9%, to 2,231.68.

Longer-term yields tend to move along with investors’ expectations for inflation and economic growth, and both are still very strong and much higher than they’ve been in recent years. But Wall Street increasingly suspects they’ve already topped out as the economy moves past the initial catapult phase of its recovery from the pandemic.

For example, two recent reports showed that the manufacturing and services sectors are still growing, but more slowly than previous months and below economists’ expectations.

Railroad stocks were the biggest losers in the S&P 500 Thursday following a published report saying the Biden administration plans to sign an executive order next week directing regulators to take action against consolidation and anticompetitive pricing in the railroad and ocean shipping industries. The report, published by The Wall Street Journal, cited an unnamed source familiar with the situation. Kansas City Southern sank 7.9% for the biggest loss in the S&P 500. Norfolk Southern slid 7.2%, CSX fell 6.2% and Union Pacific closed 4.4% lower.

Investors will be turning their attentions to corporate earnings starting next week, when major banks like JPMorgan Chase, Goldman Sachs and Bank of America report their results. Banks tend to be a proxy for the overall economy, so investors will be analyzing the reports closely and listening to what banks say about the status of lending and spending as the recovery continues.

ASX 200 expected to sink​The Australian share market looks set to end the week on a disappointing note. According to the latest SPI futures, the ASX 200 is expected to open the day 46 points or 0.6% lower this morning. 

This follows a poor night on Wall Street which saw the Dow Jones fall 0.75%, the S&P 500 drop 0.86%, and the Nasdaq tumble 0.72% lower. Global economic recovery concerns weighed on investor sentiment.


















						Asian shares slip after Wall Street retreat, bond yields dip
					

BANGKOK (AP) — Shares were mostly lower in Asia on Friday after stocks pulled back from their recent record highs on Wall Street as bond yields fell and investors turned cautious.  Tokyo’s Nikkei 225 lost nearly 2%.




					apnews.com
				




*Stocks pull back from record highs as bond yields sink again*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed lower Thursday on Wall Street as bond yields fell again and investors turned cautious following the market’s recent run of record highs.

The S&P 500 fell 0.9%, weighed down by a broad slide driven mainly by technology, financial, industrial and communication companies. The benchmark index’s pullback comes a day after it hit its eighth all-time high in nine trading days.

The yield on the 10-year Treasury note fell to 1.30%, the lowest level since February, after slipping to 1.32% a day earlier. The benchmark yield, which is used to set rates on mortgages and many other kinds of loans, has been falling steadily in recent weeks as traders shift money into bonds. The 10-year yield traded as high as 1.74% at the end of March.

The bond market has been signaling concerns over the strength of the recovery for months, specifically that it may have peaked and is now leveling off to a steadier pace. The stock market has largely ignored those signals, analysts said, but could be coming around to that message amid struggling job growth and lackluster economic reports.

“You can’t ignore what the bond market has been telling us,” said J.J. Kinahan, chief strategist with TD Ameritrade.

The S&P 500 fell 37.31 points to 4,320.82. The Dow Jones Industrial Average lost 259.86 points, or 0.7%, to 34,421.93. The Nasdaq composite snapped a three-day run of closing highs, dropping 105.28 points, or 0.7%, to 14,559.78.

Smaller company stocks also fell. The Russell 2000 index slid 21.17 points, or 0.9%, to 2,231.68.

Longer-term yields tend to move along with investors’ expectations for inflation and economic growth, and both are still very strong and much higher than they’ve been in recent years. But Wall Street increasingly suspects they’ve already topped out as the economy moves past the initial catapult phase of its recovery from the pandemic.

For example, two recent reports showed that the manufacturing and services sectors are still growing, but more slowly than previous months and below economists’ expectations.

On Thursday, the Labor Department said the number of Americans filing for unemployment benefits rose slightly last week even while the economy and the job market appear to be rebounding from the coronavirus recession.

All told, jobless claims increased by 2,000 from the previous week to 373,000. Weekly applications, which generally track the pace of layoffs, have fallen steadily this year from more than 900,000 at the start of the year.

Investors are also gauging the potential impact from COVID-19 variants stymying a resurgence in commerce and travel. Fans are banned from the Tokyo Olympics following a state of emergency aimed at containing rising coronavirus infections in the capital.

Part of the sharp drop in long-term bond yields could also be attributed to investors quickly reversing bets that they would continue rising as the economy continued its sharp recovery.

Investors have swung between enthusiasm about an economic recovery and unease that the Fed and other central banks might roll back stimulus to cool pressure for prices to rise.

Minutes from the Fed’s June meeting showed officials are moving closer to reducing bond purchases, though most analysts don’t expect a reduction until late this year. At that meeting, policymakers said they planned to raise interest rates as soon as 2023, earlier than previously expected.

“It’s a little bit of a quiet period so any piece of news from the Fed is going to be met with strong reaction,” Kinahan said. “This is really a guessing game of what the Fed does next and how to get ahead of it.”

Railroad stocks were the biggest losers in the S&P 500 Thursday following a published report saying the Biden administration plans to sign an executive order next week directing regulators to take action against consolidation and anticompetitive pricing in the railroad and ocean shipping industries. The report, published by The Wall Street Journal, cited an unnamed source familiar with the situation. Kansas City Southern sank 7.9% for the biggest loss in the S&P 500. Norfolk Southern slid 7.2%, CSX fell 6.2% and Union Pacific closed 4.4% lower.

Investors will be turning their attentions to corporate earnings starting next week, when major banks like JPMorgan Chase, Goldman Sachs and Bank of America report their results. Banks tend to be a proxy for the overall economy, so investors will be analyzing the reports closely and listening to what banks say about the status of lending and spending as the recovery continues.


----------



## bigdog

*Stocks close higher, capping a 3rd straight week of gains*

Bond yields rebounded solidly and stock indexes notched new highs Friday as Wall Street closed out a choppy, holiday-shortened week of trading with the market’s third straight weekly gain.

The S&P 500 index rose 1.1% to an all-time high for the second time this week. The benchmark index more than made up for its losses a day earlier, giving it a 0.4% gain for the week. The gains were broad with about 90% of the stocks in the S&P 500 closing higher. Banks, technology companies and industrial stocks powered much of the rally.

The gains followed bursts of selling this week as bond yields fell sharply, a sign that investors might be turning cautious after a recent run of record highs for stocks. Bond yields also reversed course Friday. The yield on the 10-year Treasury note jumped to 1.36% from 1.28% a day earlier.

“Today was ’just let’s take a breath on all of this position-changing,” said Tom Martin, senior portfolio manager with Globalt Investments.

The S&P 500 index rose 48.73 points to 4,369.55. The Dow Jones Industrial Average gained 448.23 points, or 1.3%, to 34,870.16, also a record high. The Nasdaq composite added 142.13 points, or 1%, to 14,701.92, the tech-heavy index’s third all-time high this week.

Small-company stocks did much better than the rest of the market. The Russell 2000 index rose 48.33 points, or 2.2%, to 2,280.

The market rally comes as investors turn their attention toward company earnings, which kicks off next week, starting with major banks like JPMorgan Chase, Citigroup, Bank of America and Wells Fargo. Analysts expect another strong quarter for Wall Street, due to the improving economy and fewer Americans defaulting on loans compared with earlier in the pandemic.

Banks have been among the best-performing stocks in the S&P 500 this year. The KBW Bank Index of the 24 largest banks is up 27% this year alone, compared with the 16% gain of the S&P 500.

Investors continue to gauge the potential impact from COVID-19 variants, particularly the highly contagious delta variant, as governments in some countries reimpose lockdowns and travel restrictions. The problem has been particularly bad in Asia and Oceania, where countries that largely avoided the earlier outbreaks are now dealing with quickly growing caseloads of their own.

The rising number of coronavirus cases has been one of the reasons why investors have moved back into bonds in recent days. Thursday’s yield of 1.28% on the 10-year Treasury note was down sharply from its recent high of 1.75% in late March. Bond prices rise when yields fall.

Investors have also been closely watching the Federal Reserve to see how it reacts to the recovering economy and whether it will pull some of its support sooner than expected. In a report to Congress released Friday, the central bank said its low interest rate policies are providing “powerful support” for the economy as it recovers from the coronavirus pandemic. It indicated that it plans to continue that support until more economic progress is made.

United Airlines rose 2.9% after saying it will add nearly 150 flights this winter to warm-weather destinations in the U.S. and will also add flights to beach spots in Mexico, Central America and the Caribbean.


















						Stocks close higher, capping a 3rd straight week of gains
					

Bond yields rebounded solidly and stock indexes notched new highs Friday as Wall Street closed out a choppy, holiday-shortened week of trading with the market's third straight weekly gain. The S&P 500 index rose 1.1% to an all-time high for the second time this week.




					apnews.com
				




*Stocks close higher, capping a 3rd straight week of gains*

By DAMIAN J. TROISE and ALEX VEIGA

Bond yields rebounded solidly and stock indexes notched new highs Friday as Wall Street closed out a choppy, holiday-shortened week of trading with the market’s third straight weekly gain.

The S&P 500 index rose 1.1% to an all-time high for the second time this week. The benchmark index more than made up for its losses a day earlier, giving it a 0.4% gain for the week. The gains were broad with about 90% of the stocks in the S&P 500 closing higher. Banks, technology companies and industrial stocks powered much of the rally.

The gains followed bursts of selling this week as bond yields fell sharply, a sign that investors might be turning cautious after a recent run of record highs for stocks. Bond yields also reversed course Friday. The yield on the 10-year Treasury note jumped to 1.36% from 1.28% a day earlier.

“Today was ’just let’s take a breath on all of this position-changing,” said Tom Martin, senior portfolio manager with Globalt Investments.

The S&P 500 index rose 48.73 points to 4,369.55. The Dow Jones Industrial Average gained 448.23 points, or 1.3%, to 34,870.16, also a record high. The Nasdaq composite added 142.13 points, or 1%, to 14,701.92, the tech-heavy index’s third all-time high this week.

Small-company stocks did much better than the rest of the market. The Russell 2000 index rose 48.33 points, or 2.2%, to 2,280.

The market rally comes as investors turn their attention toward company earnings, which kicks off next week, starting with major banks like JPMorgan Chase, Citigroup, Bank of America and Wells Fargo. Analysts expect another strong quarter for Wall Street, due to the improving economy and fewer Americans defaulting on loans compared with earlier in the pandemic.

Banks have been among the best-performing stocks in the S&P 500 this year. The KBW Bank Index of the 24 largest banks is up 27% this year alone, compared with the 16% gain of the S&P 500.

Investors continue to gauge the potential impact from COVID-19 variants, particularly the highly contagious delta variant, as governments in some countries reimpose lockdowns and travel restrictions. The problem has been particularly bad in Asia and Oceania, where countries that largely avoided the earlier outbreaks are now dealing with quickly growing caseloads of their own.

The rising number of coronavirus cases has been one of the reasons why investors have moved back into bonds in recent days. Thursday’s yield of 1.28% on the 10-year Treasury note was down sharply from its recent high of 1.75% in late March. Bond prices rise when yields fall.

Investors have also been closely watching the Federal Reserve to see how it reacts to the recovering economy and whether it will pull some of its support sooner than expected. In a report to Congress released Friday, the central bank said its low interest rate policies are providing “powerful support” for the economy as it recovers from the coronavirus pandemic. It indicated that it plans to continue that support until more economic progress is made.

United Airlines rose 2.9% after saying it will add nearly 150 flights this winter to warm-weather destinations in the U.S. and will also add flights to beach spots in Mexico, Central America and the Caribbean.

Biogen slid 3% for the biggest drop in the S&P 500 after the acting head of the Food and Drug Administration called for a government investigation into highly unusual contacts between her agency’s drug reviewers and the drugmaker. The move is the latest fallout since the FDA approved Biogen’s controversial Alzheimer’s drug Aduhelm last month against the advice of the agency’s own panel of outside advisers.

Oil prices continued to march higher, with U.S. crude oil briefly touching $75 a barrel overnight. It rose 2.2% to $74.56 a barrel on Friday. Members of the OPEC oil cartel have yet to come to a consensus on whether to increase oil production or not, which has caused volatility in energy markets the past two weeks.


----------



## bigdog

ASX 200 expected to rebound​The Australian share market is expected to start the week with a big gain. According to the latest SPI futures, the ASX 200 is poised to open the day 75 points or 1% higher. 

This follows a very positive end to the week on Wall Street, which saw the Dow Jones rise 1.3%, the S&P 500 climb 1.1%, and the Nasdaq storm 1% higher.


----------



## bigdog

*Stock indexes notch more records ahead of earnings reports*

Banks led stocks to modest gains on Wall Street Monday, nudging the major stock indexes to more record highs ahead of a busy week of corporate earnings reports from big U.S. companies.

The S&P 500 gained 0.3% after bouncing back from an early stumble. The benchmark index, which has notched three straight weekly gains, hit a new high, as did the Dow Jones Industrial Average and Nasdaq composite. The indexes have managed multiple new highs despite choppy trading in recent weeks.

Banks, communication stocks and companies that rely on consumer spending accounted for much of the S&P 500′s broad gains. A mix of companies selling household goods fell. Energy stocks also closed lower, following a pullback in U.S. crude oil prices. Trading was muted overall, with a few stocks making big moves on little news.

Wall Street is focusing on a wave of earnings reports coming out this week. Investors will be closely watching what companies say about the future, now that the economy is shaking off the worst impact from the pandemic and companies have a clearer view ahead.

“The market has an expectation for the economy and interest rates and it’s a matter of whether company’s are going to acknowledge this or are they going to be cautious,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute. “The market would like to see some certainty.”

The S&P 500 index rose 15.08 points to 4,384.63. The Dow added 126.02 points, or 0.4%, to 34,996.18, while the Nasdaq gained 31.32 points, or 0.2%, to 14,733.24.

Small-company stocks lagged the rest of the market. The Russell 2000 index slipped 1.82 points, or 0.1%, to 2,281.83.

Treasury yields moved higher. The yield on the 10-year Treasury note rose to 1.37% from 1.35% late Friday.

L Brands rose 4.2% after the company’s board approved splitting the Victoria’s Secret and Bath & Body Works units into two separate companies. Virgin Galactic fell 17.3% after it followed up a successful spaceflight Sunday with plans to sell up to $500 million in stock.

Earnings season kicks off this week. The big Wall Street banks report their results starting Tuesday, beginning with JPMorgan Chase and Goldman Sachs. Also reporting this week will be Bank of America, Citigroup and Wells Fargo. A handful of other big companies report this week, including Delta Air Lines, PepsiCo and UnitedHealth Group.

Expectations are high this quarter for publicly traded companies. The pandemic is waning, and all of the United States effectively reopened again in the last quarter as vaccine availability became widespread. Investors will be looking to see not only what sort of profits these companies brought in the last three months, but also what their outlook is now that things are normalizing.

Corporate earnings are expected to be up 64% from a year earlier, according to FactSet. That would be the biggest year-over-year growth since 2009, when corporate profits started recovering from the Great Recession.

Ultimately investors are going to need these companies to deliver this season. Stocks have risen sharply in the past year on the backs of expectations that corporate profits would rebound once the pandemic ends. Without strong profits, it will be increasingly difficult for investors to justify these high stock prices and record market valuations.

ASX 200 expected to rise​The Australian share market looks set to push higher again this morning. According to the latest SPI futures, the ASX 200 is expected to open the day 22 points or 0.3% higher. 

This follows a positive start to the week on Wall Street, which saw the Dow Jones rise 0.36%, the S&P 500 climb 0.35%, and the Nasdaq push 0.21% higher.


















						Asian stocks follow Wall St higher ahead of earnings reports
					

BEIJING (AP) — Asian stocks followed Wall Street higher on Tuesday ahead of U.S. earnings reports that are expected to show strong profits for major banks. Shanghai, Tokyo, Hong Kong and Sydney advanced.




					apnews.com
				




*Stock indexes notch more records ahead of earnings reports*

By DAMIAN J. TROISE and ALEX VEIGA

Banks led stocks to modest gains on Wall Street Monday, nudging the major stock indexes to more record highs ahead of a busy week of corporate earnings reports from big U.S. companies.

The S&P 500 gained 0.3% after bouncing back from an early stumble. The benchmark index, which has notched three straight weekly gains, hit a new high, as did the Dow Jones Industrial Average and Nasdaq composite. The indexes have managed multiple new highs despite choppy trading in recent weeks.

Banks, communication stocks and companies that rely on consumer spending accounted for much of the S&P 500′s broad gains. A mix of companies selling household goods fell. Energy stocks also closed lower, following a pullback in U.S. crude oil prices. Trading was muted overall, with a few stocks making big moves on little news.

Wall Street is focusing on a wave of earnings reports coming out this week. Investors will be closely watching what companies say about the future, now that the economy is shaking off the worst impact from the pandemic and companies have a clearer view ahead.

“The market has an expectation for the economy and interest rates and it’s a matter of whether company’s are going to acknowledge this or are they going to be cautious,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute. “The market would like to see some certainty.”

The S&P 500 index rose 15.08 points to 4,384.63. The Dow added 126.02 points, or 0.4%, to 34,996.18, while the Nasdaq gained 31.32 points, or 0.2%, to 14,733.24.

Small-company stocks lagged the rest of the market. The Russell 2000 index slipped 1.82 points, or 0.1%, to 2,281.83.

Treasury yields moved higher. The yield on the 10-year Treasury note rose to 1.37% from 1.35% late Friday.

L Brands rose 4.2% after the company’s board approved splitting the Victoria’s Secret and Bath & Body Works units into two separate companies. Virgin Galactic fell 17.3% after it followed up a successful spaceflight Sunday with plans to sell up to $500 million in stock.

Earnings season kicks off this week. The big Wall Street banks report their results starting Tuesday, beginning with JPMorgan Chase and Goldman Sachs. Also reporting this week will be Bank of America, Citigroup and Wells Fargo. A handful of other big companies report this week, including Delta Air Lines, PepsiCo and UnitedHealth Group.

Expectations are high this quarter for publicly traded companies. The pandemic is waning, and all of the United States effectively reopened again in the last quarter as vaccine availability became widespread. Investors will be looking to see not only what sort of profits these companies brought in the last three months, but also what their outlook is now that things are normalizing.

Corporate earnings are expected to be up 64% from a year earlier, according to FactSet. That would be the biggest year-over-year growth since 2009, when corporate profits started recovering from the Great Recession.

Ultimately investors are going to need these companies to deliver this season. Stocks have risen sharply in the past year on the backs of expectations that corporate profits would rebound once the pandemic ends. Without strong profits, it will be increasingly difficult for investors to justify these high stock prices and record market valuations.

“This needs to be more of a confirmation process this earnings season,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute.

As investors keep an eye on corporate earnings, there are also lingering worries about the highly contagious delta coronavirus variant that is spreading quickly across much of the world. Places in the U.S. being hit particularly hard by the delta variant include the South, where vaccine hesitancy and resistance is more common. There are some worries that these areas may have to reimpose restrictions.


----------



## bigdog

*Stocks ease below recent records as earnings reports roll in*

Stocks gave up early gains and closed broadly lower Tuesday as investors weighed the latest quarterly earnings reports from big U.S. companies and new data pointing to rising inflation.

The S&P 500 fell 0.4%, with most of the companies in the benchmark index losing ground. Banks, industrial stocks and companies that rely on consumer spending accounted for a big share of the decline. Technology stocks bucked the trend, helping counter some of the broader slide. Small company stocks took some of the heaviest losses.

The pullback brought the major stock indexes slightly below the record highs they set a day earlier. Treasury yields rose.

Investors sized up mixed quarterly earnings reports from Goldman Sachs, JPMorgan Chase, PepsiCo and other big companies. They also got another snapshot of how inflation continues to show up in the economy as the a rapid spike in consumer demand and supply constraints translate into higher prices for consumer goods.

The latest report from the Labor Department showed yet another increase in consumer prices in June that surprised economists.

“You had the element of just incredible earnings reported for the most recent quarter, but in some of the commentary that came out there were some questions about, ’OK, what about cost pressures going forward?” said Alan McKnight, chief investment officer at Regions Asset Management. “Then you pair that with the inflation report today where we see another high print.”

The S&P 500 fell 15.42 points to 4,369.21. The Dow Jones Industrial Average dropped 107.39 points, or 0.3%, to 34,888.79. The tech-heavy Nasdaq slid 55.59 points, or 0.4%, to 14,677.65, while the Russell 2000 index of smaller companies lost 42.96 points, or 1.9%, to 2,238.86.

Inflation has been a lingering concern for the markets as investors try to gauge how it will impact everything from the economic recovery’s trajectory to what actions the Federal Reserve will take to tackle it.

The Labor Department said Tuesday that prices for U.S. consumers jumped in June by the most in 13 years, extending a run of higher inflation that has been raising concerns on Wall Street that the Fed might consider withdrawing its low-interest rate policies and scaling back its bond purchases earlier than expected.

Much of the increase in prices for goods, such as used cars, is mostly tied to a surge in demand and lack of supply. But prices for many items, like lumber and other raw materials, either is easing or will ease as suppliers continue to ramp up operations, said Jamie Cox, managing partner at Harris Financial Group.

“That’s a problem and it shows up in all kinds of places but it’s not going to be there forever,” Cox said.

Major companies opened up the latest round of corporate earnings with investors listening closely for clues about how companies have fared during the recovery and how they see the rest of the year unfolding.

Goldman Sachs fell 1.2% despite reporting the second-best quarterly profit in the investment bank’s history. JPMorgan Chase dropped 1.5% after giving investors a mixed report with solid profits but lower revenue as interest rates fell over the last three months.

“The financials have had that real tailwind of rates going higher,” McKnight said. “We’ve already priced that in. Now it’s almost a ‘show me’ story. Can you actually prove that you can deliver earnings at a much higher clip once we get back to a more normalized environment?”

Conagra Brands slid 5.4% for the biggest drop in the S&P 500 after the owner of Chef Boyardee’s and other packaged food brands gave investors a weak financial forecast, citing inflation pressure. Fastenal, maker of industrial and construction fasteners, also said it expects more pressure from inflation in product and transportation costs. The stock fell 1.6%.

Bond yields reversed course from early trading and rose to 1.42% from 1.36% late Monday. Overall, yields have been falling for months after a sharp spike earlier in the year.

The calmer bond market is partly signaling more confidence that rising inflation will likely be temporary and tied mostly to the economic recovery.

“That narrative is pretty well anchored and the bond market doesn’t fear the Fed tapering or raising rates,” Cox said.

Solid earnings did help some companies make gains. PepsiCo rose 2.3% after beating Wall Street’s second-quarter profit and revenue forecasts.

Boeing fell 4.2% after announcing production cuts for its large 787 airliner because of a new structural flaw in some planes that have been built but not delivered to airline customers.

*ASX 200 futures pointing higher*

The Australian share market looks set to edge higher on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 8 points or 0.1% higher this morning. 

This is despite it being a poor night on Wall Street, which saw the Dow Jones fall 0.31%, the S&P 500 drop 0.35%, and the Nasdaq tumble 0.38% lower.





*













						Asian shares mostly track Wall St drop on inflation worries
					

TOKYO (AP) — Asian shares were mostly lower on Wednesday, tracking a decline on Wall Street as investors weighed the latest quarterly earnings reports from big U.S. companies and data pointing to rising inflation.




					apnews.com
				




Stocks ease below recent records as earnings reports roll in

By DAMIAN J. TROISE and ALEX VEIGA

Stocks gave up early gains and closed broadly lower Tuesday as investors weighed the latest quarterly earnings reports from big U.S. companies and new data pointing to rising inflation.

The S&P 500 fell 0.4%, with most of the companies in the benchmark index losing ground. Banks, industrial stocks and companies that rely on consumer spending accounted for a big share of the decline. Technology stocks bucked the trend, helping counter some of the broader slide. Small company stocks took some of the heaviest losses.

The pullback brought the major stock indexes slightly below the record highs they set a day earlier. Treasury yields rose.

Investors sized up mixed quarterly earnings reports from Goldman Sachs, JPMorgan Chase, PepsiCo and other big companies. They also got another snapshot of how inflation continues to show up in the economy as the a rapid spike in consumer demand and supply constraints translate into higher prices for consumer goods.

The latest report from the Labor Department showed yet another increase in consumer prices in June that surprised economists.

“You had the element of just incredible earnings reported for the most recent quarter, but in some of the commentary that came out there were some questions about, ’OK, what about cost pressures going forward?” said Alan McKnight, chief investment officer at Regions Asset Management. “Then you pair that with the inflation report today where we see another high print.”

The S&P 500 fell 15.42 points to 4,369.21. The Dow Jones Industrial Average dropped 107.39 points, or 0.3%, to 34,888.79. The tech-heavy Nasdaq slid 55.59 points, or 0.4%, to 14,677.65, while the Russell 2000 index of smaller companies lost 42.96 points, or 1.9%, to 2,238.86.

Inflation has been a lingering concern for the markets as investors try to gauge how it will impact everything from the economic recovery’s trajectory to what actions the Federal Reserve will take to tackle it.

The Labor Department said Tuesday that prices for U.S. consumers jumped in June by the most in 13 years, extending a run of higher inflation that has been raising concerns on Wall Street that the Fed might consider withdrawing its low-interest rate policies and scaling back its bond purchases earlier than expected.

Much of the increase in prices for goods, such as used cars, is mostly tied to a surge in demand and lack of supply. But prices for many items, like lumber and other raw materials, either is easing or will ease as suppliers continue to ramp up operations, said Jamie Cox, managing partner at Harris Financial Group.

“That’s a problem and it shows up in all kinds of places but it’s not going to be there forever,” Cox said.

Major companies opened up the latest round of corporate earnings with investors listening closely for clues about how companies have fared during the recovery and how they see the rest of the year unfolding.

Goldman Sachs fell 1.2% despite reporting the second-best quarterly profit in the investment bank’s history. JPMorgan Chase dropped 1.5% after giving investors a mixed report with solid profits but lower revenue as interest rates fell over the last three months.

“The financials have had that real tailwind of rates going higher,” McKnight said. “We’ve already priced that in. Now it’s almost a ‘show me’ story. Can you actually prove that you can deliver earnings at a much higher clip once we get back to a more normalized environment?”

Conagra Brands slid 5.4% for the biggest drop in the S&P 500 after the owner of Chef Boyardee’s and other packaged food brands gave investors a weak financial forecast, citing inflation pressure. Fastenal, maker of industrial and construction fasteners, also said it expects more pressure from inflation in product and transportation costs. The stock fell 1.6%.

Bond yields reversed course from early trading and rose to 1.42% from 1.36% late Monday. Overall, yields have been falling for months after a sharp spike earlier in the year.

The calmer bond market is partly signaling more confidence that rising inflation will likely be temporary and tied mostly to the economic recovery.

“That narrative is pretty well anchored and the bond market doesn’t fear the Fed tapering or raising rates,” Cox said.

Solid earnings did help some companies make gains. PepsiCo rose 2.3% after beating Wall Street’s second-quarter profit and revenue forecasts.

Boeing fell 4.2% after announcing production cuts for its large 787 airliner because of a new structural flaw in some planes that have been built but not delivered to airline customers.

*


----------



## bigdog

*Stocks end a wobbly day mixed and just shy of record highs*

Wall Street capped a wobbly day of trading with mixed results Wednesday, as a rally in technology stocks was kept in check by a slide in banks and energy companies.

The S&P 500 eked out a 0.1% gain after recovering from an early stumble and then losing much of its momentum by late afternoon. The benchmark index recovered some of its losses from a day earlier, but finished just short of its all-time high set on Monday.

The Nasdaq composite slipped 0.2% despite gains by several big tech companies including Apple. Small company stocks continued to lag the broader market.

Investors had a mixed reaction to a new batch of earnings news from banks, airlines and other companies, as well as the latest report showing another rise in inflation. They also kept an eye on the latest comments on inflation from the Federal Reserve chair, who reaffirmed the Fed’s view that the surge in costs across the economy is temporary.

“Investors right now are focusing on earnings because they are still buying what the Fed is saying about inflation (and) that it’s too early to start to raise rates and potentially slow a reopening economy,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 rose 5.09 points to 4,374.30. The Dow Jones Industrial Average added 44.44 points, or 0.1%, to 34,993.23. The Nasdaq slipped 32.70 points to 14,644.95. The Russell 2000 index of smaller companies slid 36.51, or 1.6%, to 2,202.36.

Wall Street is closely watching the latest round of earnings for confirmation about the scale and pace of the economic recovery as people return to work, travel again and generally try to get back to some semblance of normal following the worst of the virus pandemic.

Banks mostly fell even after several of them turned in solid earnings reports. Citigroup gave up an early gain and fell 0.3%, despite reporting a more than five-fold rise in profits, helped by an improving economy that resulted in fewer bad loans on the bank’s balance sheet. Wells Fargo rose 4% for the biggest gain in the S&P 500 after reporting its most profitable quarter in two years.

Mixed results from Bank of America disappointed investors. It fell 2.5% after reporting solid profits, but weak revenue.

Airlines showed more signs of recovery as people begin to resume travel for work and leisure. American Airlines rose 3% after giving investors an encouraging update on its second-quarter financial picture.

Outside of earnings, investors are still closely watching measures of inflation to better gauge how it could impact the recovery. Inflation at the wholesale level jumped 1% in June, pushing price gains over the past 12 months up by a record 7.3%. The news on wholesale prices followed a report Tuesday that consumer prices increased in June by 0.9% and were up 5.4% over the past 12 months, the biggest 12-month gain in 13 years.

Energy companies had some of the biggest losses, partly due to a 2.8% drop in the price of benchmark U.S. crude oil. Occidental Petroleum fell 7.5% for the biggest drop in the S&P 500, while Cabot Oil & Gas slid 5%.

Technology stocks notched solid gains, led by a 2.4% increase in Apple following a published report that the consumer electronics giant planned to increase production of iPhones.

ASX 200 expected to edge lower​The Australian share market looks set to give back some of its gains on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 11 points or 0.15% lower this morning. 

This follows a mixed night of trade on Wall Street, which saw the Dow Jones rise 0.13%, the S&P 500 climb 0.12%, but the Nasdaq fall 0.22%



















						Asian shares trading mixed as China reports growth slowed
					

TOKYO (AP) — Asian shares were mixed Thursday, taking their cue from a wobbly day of trading on Wall Street.  China reported  its economy expanded at a 7.9% annual rate in the last quarter, down from 18.3% in January-March.




					apnews.com
				




*Stocks end a wobbly day mixed and just shy of record highs*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped a wobbly day of trading with mixed results Wednesday, as a rally in technology stocks was kept in check by a slide in banks and energy companies.

The S&P 500 eked out a 0.1% gain after recovering from an early stumble and then losing much of its momentum by late afternoon. The benchmark index recovered some of its losses from a day earlier, but finished just short of its all-time high set on Monday.

The Nasdaq composite slipped 0.2% despite gains by several big tech companies including Apple. Small company stocks continued to lag the broader market.

Investors had a mixed reaction to a new batch of earnings news from banks, airlines and other companies, as well as the latest report showing another rise in inflation. They also kept an eye on the latest comments on inflation from the Federal Reserve chair, who reaffirmed the Fed’s view that the surge in costs across the economy is temporary.

“Investors right now are focusing on earnings because they are still buying what the Fed is saying about inflation (and) that it’s too early to start to raise rates and potentially slow a reopening economy,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 rose 5.09 points to 4,374.30. The Dow Jones Industrial Average added 44.44 points, or 0.1%, to 34,993.23. The Nasdaq slipped 32.70 points to 14,644.95. The Russell 2000 index of smaller companies slid 36.51, or 1.6%, to 2,202.36.

Wall Street is closely watching the latest round of earnings for confirmation about the scale and pace of the economic recovery as people return to work, travel again and generally try to get back to some semblance of normal following the worst of the virus pandemic.

Banks mostly fell even after several of them turned in solid earnings reports. Citigroup gave up an early gain and fell 0.3%, despite reporting a more than five-fold rise in profits, helped by an improving economy that resulted in fewer bad loans on the bank’s balance sheet. Wells Fargo rose 4% for the biggest gain in the S&P 500 after reporting its most profitable quarter in two years.

Mixed results from Bank of America disappointed investors. It fell 2.5% after reporting solid profits, but weak revenue.

Airlines showed more signs of recovery as people begin to resume travel for work and leisure. American Airlines rose 3% after giving investors an encouraging update on its second-quarter financial picture.

Outside of earnings, investors are still closely watching measures of inflation to better gauge how it could impact the recovery. Inflation at the wholesale level jumped 1% in June, pushing price gains over the past 12 months up by a record 7.3%. The news on wholesale prices followed a report Tuesday that consumer prices increased in June by 0.9% and were up 5.4% over the past 12 months, the biggest 12-month gain in 13 years.

Federal Reserve Chair Jerome Powell suggested in testimony to a House committee that inflation will likely remain elevated, but eventually moderate, reinforcing the central bank’s position that rising inflation is a temporary impact from the recovering economy. A key concern for investors has been how quickly the Fed will shift its interest rate policies in the face of rising inflation, but it has signaled there is no imminent change coming.

Long-term bond yields were mostly lower. The yield on the 10-year Treasury note fell to 1.34% from 1.41% late Tuesday.

“If the market were truly worried by the inflationary numbers then the 10-year note (yield) probably would have gone up,” Stovall said.

Energy companies had some of the biggest losses, partly due to a 2.8% drop in the price of benchmark U.S. crude oil. Occidental Petroleum fell 7.5% for the biggest drop in the S&P 500, while Cabot Oil & Gas slid 5%.

Technology stocks notched solid gains, led by a 2.4% increase in Apple following a published report that the consumer electronics giant planned to increase production of iPhones.


----------



## bigdog

*Stocks close lower, falling below recent record highs *

Major US stock indexes closed mostly lower Thursday, pulling back further from the record highs they reached at the start of the week.

The S&P 500 fell 0.3% after shedding an early gain. The benchmark index is now on pace for its first weekly loss in four weeks.

Technology and communications stocks, and companies that rely on consumer spending, accounted for much of the pullback, outweighing gains elsewhere in the market. Energy stocks fell following a broad slide in energy prices. Among the winners were financial stocks, including banks, which have been reporting mostly solid earnings.

Bond yields fell. The yield on the 10-year Treasury note slipped to 1.30% from 1.35% the day before.

Investors continued to focus on where the economy is headed as the pandemic wanes and on what companies have to say about how higher inflation is affecting their business.

“As long as inflation ends up being transitory, as the Fed believes, the economy is set to continue to do real well,” said Chris Gaffney, president of TIAA Bank World Markets. “The big risk is that inflation spikes and stays here.”

The S&P 500 fell 14.27 points to 4,360.03. The tech-heavy Nasdaq slid 101.82 points, or 0.7%, to 14,543.13. The Dow Jones Industrial Average bucked the trend and bounced back after being down much of the day. The blue-chip index gained 53.79 points, or 0.2%, to 34,987.02.

Small company stocks also fell. The Russell 2000 index lost 12.07 points, or 0.6%, to 2,190.29.

On Thursday, Federal Reserve Chair Jerome Powell delivered his second day of testimony before Congress. Powell reiterated that signs of inflation should ease or reverse over time, while acknowledging that the U.S. is in the midst of an unparalleled economic reopening on the heels of a pandemic-induced recession.

The government said Wednesday that inflation at the wholesale level jumped 1% in June, pushing price gains over the past 12 months up by a record 7.3%. That followed a report a day earlier showing consumer prices posted the biggest 12-month gain in 13 years.

Investors are also trying to determine how the economic recovery will play out for the rest of the year as the world tries to get back to normal with COVID-19 waning, but still lingering.

“There’s a big question mark around COVID-19 shifting from an acute to a chronic condition for the global market,” said Rod von Lipsey, managing director at UBS Private Wealth Management.

More companies released their latest quarterly earnings Thursday. Progressive fell 2.6% after the insurance company’s results fell far short of analysts’ forecasts. Morgan Stanley rose 0.2% after reporting a 10% rise in quarterly profits from a year earlier.

A larger bulk of companies will start reporting next week, when earnings season gets into full swing.

American International Group, better known as AIG, rose 3.6% after the insurance company reached a deal with Blackstone Group to help manage some of its life insurance assets.

ASX 200 expected to open flat​The Australian share market looks set to end the week in a subdued fashion. According to the latest SPI futures, the ASX 200 is expected to open the day flat this morning. 

This follows a mixed night on Wall Street which saw the Dow Jones rise 0.15%, the S&P 500 drop 0.33%, and the Nasdaq tumble 0.7% lower.


















						Asian shares track Wall St decline; BOJ policy unchanged
					

BANGKOK (AP) — Shares were mostly lower in Asia on Friday after Wall Street benchmarks extended losses amid uncertainty over rising coronavirus cases and the risks to pandemic recoveries.  Stocks fell in Tokyo, Seoul and Shanghai but rose in Hong Kong.




					apnews.com
				




*Stocks close lower, falling below recent record highs *

By DAMIAN J. TROISE and ALEX VEIGA

Major US stock indexes closed mostly lower Thursday, pulling back further from the record highs they reached at the start of the week.

The S&P 500 fell 0.3% after shedding an early gain. The benchmark index is now on pace for its first weekly loss in four weeks.

Technology and communications stocks, and companies that rely on consumer spending, accounted for much of the pullback, outweighing gains elsewhere in the market. Energy stocks fell following a broad slide in energy prices. Among the winners were financial stocks, including banks, which have been reporting mostly solid earnings.

Bond yields fell. The yield on the 10-year Treasury note slipped to 1.30% from 1.35% the day before.

Investors continued to focus on where the economy is headed as the pandemic wanes and on what companies have to say about how higher inflation is affecting their business.

“As long as inflation ends up being transitory, as the Fed believes, the economy is set to continue to do real well,” said Chris Gaffney, president of TIAA Bank World Markets. “The big risk is that inflation spikes and stays here.”

The S&P 500 fell 14.27 points to 4,360.03. The tech-heavy Nasdaq slid 101.82 points, or 0.7%, to 14,543.13. The Dow Jones Industrial Average bucked the trend and bounced back after being down much of the day. The blue-chip index gained 53.79 points, or 0.2%, to 34,987.02.

Small company stocks also fell. The Russell 2000 index lost 12.07 points, or 0.6%, to 2,190.29.

On Thursday, Federal Reserve Chair Jerome Powell delivered his second day of testimony before Congress. Powell reiterated that signs of inflation should ease or reverse over time, while acknowledging that the U.S. is in the midst of an unparalleled economic reopening on the heels of a pandemic-induced recession.

The government said Wednesday that inflation at the wholesale level jumped 1% in June, pushing price gains over the past 12 months up by a record 7.3%. That followed a report a day earlier showing consumer prices posted the biggest 12-month gain in 13 years.

Investors are also trying to determine how the economic recovery will play out for the rest of the year as the world tries to get back to normal with COVID-19 waning, but still lingering.

“There’s a big question mark around COVID-19 shifting from an acute to a chronic condition for the global market,” said Rod von Lipsey, managing director at UBS Private Wealth Management.

While the virus and its variants aren’t likely to severely disrupt the economic recovery, expectations for a quick snapback have been stymied by persistent mutations, he said.

New data on applications for unemployment benefits signaled the labor market continues to improve. The Labor Department said Thursday that unemployment claims fell by 26,000 last week to 360,000, the lowest level since the pandemic struck last year.

More companies released their latest quarterly earnings Thursday. Progressive fell 2.6% after the insurance company’s results fell far short of analysts’ forecasts. Morgan Stanley rose 0.2% after reporting a 10% rise in quarterly profits from a year earlier.

A larger bulk of companies will start reporting next week, when earnings season gets into full swing.

American International Group, better known as AIG, rose 3.6% after the insurance company reached a deal with Blackstone Group to help manage some of its life insurance assets.


----------



## bigdog

Stocks end a wobbly week lower, breaking 3-week win streak
					

Wall Street ended a milestone-setting week on a down note Friday, as stocks closed lower and the S&P 500 index posted its first weekly loss in four weeks.  The benchmark index fell 0.8%, with a good part of its pullback attributable to declines in big technology stocks, banks and companies that...




					apnews.com
				




*Stocks end a wobbly week lower, breaking 3-week win streak*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street ended a milestone-setting week on a down note Friday, as stocks closed lower and the S&P 500 index posted its first weekly loss in four weeks.

The benchmark index fell 0.8%, with a good part of its pullback attributable to declines in big technology stocks, banks and companies that rely on consumer spending. Energy and industrial stocks also helped drag the market down, outweighing gains in health care and utilities companies.

Small-company stocks continued to badly lag the rest of the market. Treasury yields remained relatively low, a sign of caution among investors. The yield on the 10-year Treasury note held steady at 1.29%, well below the 1.75% it fetched in late March.

“Some of what’s been reflected in the bond market is starting to filter into the (stock) market just a little bit,” said Stephanie Roth, senior markets economist at J.P. Morgan Private Bank.

The S&P 500 fell 32.87 points to 4,327.16. It ended the week with a 1% loss. The Dow Jones Industrial Average dropped 299.17 points, or 0.9%, to 34,687.85. The tech-heavy Nasdaq composite slid 115.90 points, or 0.8%, to 14,427.24.

The Russell 2000 index of smaller companies fared worse than the broader market, shedding 27.06 points, or 1.2%, to 2,163.24. The index, which had outpaced the rest of the market for much of 2021, is now up just 9.5% for the year, well below the S&P 500′s year-to-date gain of 15.2%.

Moderna rose 10.3% after the drugmaker was added to the S&P 500 index, prompting a rush of buying from fund managers who need to keep a portfolio of stocks that replicate the index.

Trading was choppy this week after the three major stock indexes set all-time highs on Monday. The downbeat end to the week suggests investors are uncertain about how strongly the economic recovery will be in the second half of the year. Inflation is raging, many of the U.S. government’s pandemic relief efforts are fading and the Federal Reserve is starting to discuss reining in some of its support for the economy.

Investors are also anxious that the spread of new variants of the coronavirus could weaken economies around the world.

“Covid is probably one of the bigger uncertainties out there,” Roth said. “We do have to price in some chance that it becomes a bigger headwind than we think.”

On Thursday, Federal Reserve Chair Jerome Powell delivered his second day of testimony before Congress. Powell reiterated that signs of inflation should ease or reverse over time, while acknowledging that the U.S. is in the midst of an unparalleled economic reopening on the heels of a pandemic-induced recession.

Investors got a bit of positive economic news Friday. Americans spent more last month on clothing, electronics and dining out as the economy opened up and there were fewer pandemic-related restrictions.

U.S. retail sales rose a seasonally adjusted 0.6% in June from the month before, the U.S. Commerce Department said. The increase was a surprise to Wall Street analysts, who had expected sales to fall slightly last month.

Banks, airlines and other major companies kicked off the latest round of quarterly report cards this week. The reports have been mostly solid, though investors are still trying to gauge how corporations are faring during the recovery and how they might perform for the rest of the year.

The bulk of companies in the S&P 500 will report their results next week and the following week. Expectations are high, with profits in the S&P 500 expected to be up 64% from a year earlier, according to FactSet.


----------



## bigdog

ASX 200 expected to sink​The Australian share market is expected to start the week in the red. According to the latest SPI futures, the ASX 200 is expected to open the day 37 points or 0.5% lower. 

This follows a poor end to the week on Wall Street, which saw the Dow Jones fall 0.85%, the S&P 500 drop 0.75%, and the Nasdaq tumble 0.8%.


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## bigdog

*RED DAYS EVERYWHERE*









						Asian shares fall on virus variant worries, Wall St retreat
					

TOKYO (AP) — Asian shares fell Tuesday as worries were growing that a faster-spreading variant of the coronavirus could upend the global economic recovery.  Japan's benchmark Nikkei 225 slipped 0.6% to 27,489.13 in early trading.




					apnews.com
				




*Stocks skid as virus fears shake markets; Dow falls 2.1%*

By STAN CHOE, ALEX VEIGA and DAMIAN J. TROISE

Resurgent pandemic worries knocked stocks lower from Wall Street to Tokyo on Monday, fueled by fears that a faster-spreading variant of the virus may upend the economy’s strong recovery.

The S&P 500 fell 68.67, or 1.6%, to 4,258.49, after setting a record just a week earlier. In another sign of worry, the yield on the 10-year Treasury touched its lowest level in five months as investors scrambled for safer places to put their money.

The Dow Jones Industrial Average slumped 725.81, or 2.1%, to 33,962.04, while the Nasdaq composite lost 152.25, or 1.1%, to 14,274.98.

Airlines and other companies that would get hurt the most by potential COVID-19 restrictions took some of the heaviest losses, similar to the early days of the pandemic in February and March 2020. United Airlines lost 5.5%, mall owner Simon Property Group gave up 5.9%, and cruise operator Carnival fell 5.7%.

The selling also circled the world, with several European markets sinking roughly 2.5% and Asian indexes down a bit less. The price of benchmark U.S. crude, meanwhile, fell more than 7% after OPEC and allied nations agreed on Sunday to eventually allow for higher oil production this year.

Increased worries about the virus may seem strange to people in parts of the world where masks are coming off, or already have, thanks to COVID-19 vaccinations. But the World Health Organization says cases and deaths are climbing globally after a period of decline, spurred by the highly contagious delta variant. And given how tightly connected the global economy is, a hit anywhere can quickly affect the other side of the world.

Even in the U.S., where the vaccination rate is higher than in many other countries, people in Los Angeles County must once again wear masks indoors regardless of whether they’re vaccinated following spikes in cases, hospitalizations and deaths.

Across the country, the daily number of COVID cases has soared by nearly 20,000 over the last two weeks to about 32,000. The vaccine campaign has hit a wall, with the average number of daily inoculations sinking to the lowest levels since January, and cases are on the rise in all 50 states.

That’s why markets are concerned, even though reports show the economy is still recovering at a fantastically high rate and the general expectation is for it to deliver continued growth. Any worsening of virus trends threatens the high prices that stocks have achieved on expectations the economy will fulfill those lofty forecasts.

Financial markets have been showing signs of increased concerns for a while, but the U.S. stock market had remained largely resilient. The S&P 500 has had just two down weeks in the last eight, and the last time it had even a 5% pullback from a record high was in October.

Several analysts pointed to that backdrop of high prices and very calm movements for weeks while dissecting Monday’s drop.

“It’s a bit of an overreaction, but when you have a market that’s at record highs, that’s had the kind of run we’ve had, with virtually no pullback, it becomes extremely vulnerable to any sort of bad news,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab. “It was just a matter of what that tipping point was, and it seems we finally reached that this morning” with worries about the delta variant.

He and other analysts are optimistic stocks can rebound quickly. Investors have been trained recently to see every dip in stocks as merely an opportunity to buy low.

Barry Bannister, chief equity strategist at Stifel, was more pessimistic. He says the stock market may be in the early stages for a drop of as much as 10% following its big run higher. The S&P 500 nearly doubled after hitting its bottom in March 2020.

“The valuations, they just got too frothy,” he said. “There was just so much optimism out there.”

The bond market has been louder and more persistent in its warnings. The yield on the 10-year Treasury tends to move with expectations for economic growth and for inflation, and it has been sinking since late March, when it was at roughly 1.75%. It fell to 1.20% Monday from 1.29% late Friday.

Analysts and professional investors say a long list of potential reasons is behind the sharp moves in the bond market, which is seen as more rational and sober than the stock market. But at the heart is the risk the economy may be set to slow sharply from its current, extremely high growth.

Besides the new variants of the coronavirus, other risks to the economy include fading pandemic relief efforts from the U.S. government and a Federal Reserve that looks set to begin paring back its assistance for markets later this year.

Monday’s selling pressure was widespread, with nearly 90% of the stocks in the S&P 500 lower. Even Big Tech stocks fell, with Apple down 2.7% and Microsoft 1.3% lower. Such stocks seemed nearly immune to virus fears during earlier downturns, rising with expectations for continued growth almost regardless of the economy’s strength.

Across the S&P 500, analysts are forecasting profit growth of nearly 70% for the second quarter from a year earlier. That would be the strongest growth since 2009, when the economy was climbing out of the Great Recession.

But just like worries are rising that the economy’s growth has already peaked, analysts are trying to handicap by how much growth rates will slow in upcoming quarters and years for corporate profits.

ASX 200 expected to sink again​The Australian share market looks set to sink again this morning. According to the latest SPI futures, the ASX 200 is expected to open the day 70 points or 1% lower. 

This follows a very poor start to the week on Wall Street, which saw the Dow Jones crash 2.09%, the S&P 500 drop 1.59%, and the Nasdaq fall 1.0.6%. The Dow had its worst day since October amid concerns rising COVID-19 cases could stifle global economic growth.


----------



## bigdog

Asian stocks mixed after Wall Street rebound
					

BEIJING (AP) — Asian stock markets were mixed Wednesday after Wall Street rebounded and Japanese exports surged as investors tried to figure out how rising coronavirus infections will affect the global economy.




					apnews.com
				




*Stocks regain much of the ground they lost a day earlier*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks jumped on Wall Street Tuesday, making up much of the ground they lost a day earlier when worries flared about spreading cases of the more contagious variant of COVID-19.

The comeback was the latest rebound following a pullback as investors continue to try and assess how badly rising infections will hurt the economic recovery.

The S&P 500 rose 64.57 points, or 1.5%, to 4,323.06. The gain erased most of the benchmark index’s 1.6% loss on Monday, its biggest since May.

Airlines, cruise operators and other stocks that sank a day earlier were back in the winning column. American Airlines climbed 8.4% and Carnival gained 7.5%. Technology, financial, industrial and health care stocks also powered a big share of the benchmark index’s broad gains.

The Dow Jones Industrial Average rose 549.95 points, or 1.6%, to 34,511.99. The blue-chip index lost 725 points a day earlier. The Nasdaq composite gained 223.89 points, or 1.6%, to 14,498.88.

Small company stocks mounted the strongest comeback. The Russell 2000 index outpaced the other major indexes with a gain of 63.62 points, or 3%, to 2,194.30.

The sharp one-day rebound for the broader market shows yet again just how choppy trading has been as investors try to figure out the lingering virus’ impact on inflation, the broader economy and businesses ranging from airlines to banks. The broader market has managed to keep gaining ground even with all the churn and the benchmark S&P 500 notched several records over the last few weeks.

The spread of the more contagious delta variant of COVID-19 has become a worry spot for investors and policymakers. The Centers for Disease Control has said an estimated 83% of cases in the U.S. are tied to the delta variant of the virus. While tens of millions of Americans have gotten vaccinated, there remains a significant percentage of Americans who are either reluctant or outright hostile to the idea of being vaccinated.

Los Angeles Country last weekend reinstituted an indoor mask mandate as the region’s infection rate was climbing quickly yet again. Other parts of the country, like Southern Missouri, are flooded with COVID cases that are straining hospitals once more.

Bond yields fell sharply on Monday on fears that the strong economic recovery from the pandemic could be put at risk from additional lockdowns or coronavirus cases. The yield on the 10-year Treasury note dipped as low as 1.14% early Tuesday, but has reversed course and is up to 1.21% from 1.18% the day before. A week ago it was trading at 1.42%.

“We’re seeing a more dramatic extension of what we experienced over the last couple of weeks, which is really the market searching for a narrative,” said Yung-Yu Ma, chief investment strategist at BMO Wealth Management.

Investors are looking for whatever clues they can get to better gauge the continued trajectory of the economic recovery. Everything from comments from the Federal Reserve to outlooks from companies and economic data are being used to get a clearer picture of what the economy might look like throughout the rest of this year and into 2022.

Wall Street is also in the midst of earnings reporting season. IBM rose 1.5% after the company reported better than expected revenue and profits, helped by its cloud computing business. Hospital operator HCA Healthcare jumped 14.4% for the biggest gain in the S&P 500 after handily beating Wall Street’s second-quarter profit and revenue forecasts.

Outside of earnings, drug distributors made some big moves following reports that they are on the verge of $26 billion settlement over opioid lawsuits. AmerisourceBergen rose 3.5% and McKesson rose 3.2%.

Paint and coatings maker PPG Industries fell 4.4% for the biggest decline in the S&P 500 after its second-quarter profit fell short of analysts’ forecasts and it faces supply chain issues and higher raw materials prices.

ASX 200 futures pointing higher​The Australian share market looks set to storm higher on Wednesday following a strong night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 55 points or 0.8% higher. 

On Wall Street, the Dow Jones rose 1.62%, the S&P 500 climbed 1.52%, and the Nasdaq stormed 1.57% higher.

*












*


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## bigdog

Stocks climb on Wall St gains as company earnings roll in
					

BEIJING (AP) — Asian stock markets followed Wall Street higher Thursday for a second day as optimism about an economic recovery appeared to outweigh concern over rising coronavirus cases and inflation.




					apnews.com
				




*Stocks climb on Wall Street as more company earnings roll in*

By ALEX VEIGA

Stocks closed higher on Wall Street for a second straight day Wednesday following a sharp drop at the beginning of the week.

The S&P 500 rose 0.8% and is now on pace for a weekly gain. Technology stocks, banks and companies that rely on consumer spending helped drive the benchmark index’s advance. Energy stocks also rose as the price of U.S. crude oil marched 4.3% higher. Utilities and real estate stocks were among the decliners.

The market’s swift rebound from Monday’s sharp sell-off reflects investors’ tug-of-war as they factor in signs of economic growth as the economy reopens, strong corporate earnings and a recovering job market against the potential risks of rising inflation and the more contagious delta variant of COVID-19.

The stock market has begun looking past the pandemic and toward what the recovery looks like, said Bill Northey, senior investment director at U.S. Bank Wealth Management.

“Now there is some degree of question: what is the pace, the degree of that economic recovery from here?” Northey said.

The S&P 500 gained 35.63 points to 4,358.69. The Dow Jones Industrial Average rose 286.01 points, or 0.8%, to 34,798, and the Nasdaq composite added 133.08 points, or 0.9%, to 14,631.95. The Dow and Nasdaq have also recouped their losses from Monday’s sell-off.

Traders continued to bid up small company stocks. The Russell 2000 index outpaced the other major indexes with a gain of 39.74 points, or 1.8%, to 2,234.04.

The S&P 500, a benchmark for many index funds, has managed to keep gaining ground and notched new highs over the last few weeks despite bouts of choppy trading. What’s helped push stocks higher the last two days is better-than-expected results from big corporations.

Summer is typically a slow time for Wall Street, with investors and traders taking vacations and holding steady until later in the year. The dominant thing that will drive the market, with the exception of big economic reports, will be how well companies do versus expectations.

Dow component Coca-Cola rose 1.3% Wednesday after the company raised its full-year forecast and reported better-than-expected results. Fast food chain Chipotle Mexican Grill jumped 11.5% for the biggest gain in the S&P 500 after the company also reported much better than expected results after the closing bell Tuesday.

Not all earnings were positive. Netflix fell 3.3% after reporting its worst slowdown in subscriber growth in eight years.

Earnings season will kick into high gear next week, when more than 100 members of the S&P 500 will report their quarter results. So far earnings season has been strong, with more than 80% of the S&P 500 beating analysts’ forecasts according to FactSet. That’s despite the already high expectations that Wall Street has had for corporations.

Bond yields continued to recover from their sharp fall earlier in the week. The yield on the 10-year Treasury note rose to 1.29%, up from 1.20% the day before. The 10-year note’s yield had fallen into the teens on Monday on concerns that the delta variant of the coronavirus might impact economic growth globally.

Among the big winners Wednesday, Morgan Stanley rose 3.6%, chipmaker Lam Research gained 5% and Occidental Petroleum vaulted 7.1%. Cruise operators, big losers in Monday’s market slide, rallied again. Norwegian Cruise Line vaulted 10.1%, Carnival gained 9.4% and Royal Caribbean rose 5.4%.

ASX 200 expected to rise again​The Australian share market looks set to continue its ascent on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 70 points or 1% higher this morning. 

This follows a strong night of trade on Wall Street, which saw the Dow Jones rise 0.8%, the S&P 500 climb 0.8%, and the Nasdaq jump 0.9%.


----------



## bigdog

Asian markets mixed after modest gains on Wall St
					

BANGKOK (AP) — Asian markets were mixed on Friday after major indexes edged higher on Wall Street, preserving their gains for the week.  Hong Kong and Shanghai fell while Sydney and Seoul advanced.




					apnews.com
				




*Indexes inch higher on Wall Street, preserving weekly gains*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks eked out modest gains on Wall Street Thursday, extending the market’s winning streak into a third day and keeping the major indexes on pace to end the week higher.

The S&P 500 shrugged off a midday slide and rose 0.2%. Banks, energy companies and industrial stocks weighed on the benchmark index, though solid gains by Apple, Microsoft and other big technology stocks helped nudge the index up.

Trading was mostly muted as investors reviewed the latest corporate earnings and a surprise increase in the number of Americans filing for unemployment benefits. Still, the gains preserve stock indexes’ comeback following a sharp sell-off to start the week.

“The market is trying to come to terms with the big sell-off on Monday,” said David Joy, chief market strategist at Ameriprise Financial. “We’ve had a rebound that allowed us to recapture a lot of it yesterday, and today it seems as though the market is searching for the next directional catalyst, and hasn’t really found one.”

Joy said the next big market-moving event could come as early as next Wednesday, when Federal Reserve policymakers hold their next two-day meeting. A key question: Will the central bank provide new hints about when it might begin to unwind some of the support that’s helped keep the economy going during the pandemic now that inflation is on the rise.

The S&P 500 index rose 8.79 points to 4,367.48. The Dow Jones Industrial Average added 25.35 points, or 0.1%, to 34,823.35. The Nasdaq composite gained 52.64 points, or 0.4%, to 14,684.60. All three indexes remain close to the all-time highs they set early last week.

Wall Street’s smallest companies lost ground. The Russell 2000 index fell 34.57 points, or 1.5%, to 2,199.48.

The Labor Department reported that unemployment claims rose last week to 419,000, the most in two months and more than economists were expecting. Economists characterized last week’s increase as most likely a blip caused by some one-time factors and partly a result of the inevitable bumpiness in the week-to-week data.

That said, investors have been nervous about how well the economy is recovering after the pandemic along with lingering concerns that the delta variant of COVID-19, which is spreading rapidly across the country, may cause businesses and cities to put restrictions into place yet again.

The 10-year Treasury note traded at a yield of 1.26% Thursday, down from 1.28% the day before. While the benchmark yield has recovered from its low yields earlier in the week, it continues to trade at relatively low levels given that the economy is in a recovery.

The lower yields weighed on banks, which can charge higher interest on loans when yields rise. JPMorgan Chase and Bank of America each fell 1.3%.

Big technology companies helped counter the dip from banks. Apple rose 1% and Microsoft rose 1.7%.

Homebuilders mostly fell after the National Association of Realtors said sales of previously occupied U.S. homes rose in June after a four-month pullback. The June data also showed the median U.S. home price hit a record high last month, reflecting an increase in sales of higher-end homes, while sales of properties under $150,000 declined.

The sharp rise in home prices, even with mortgage rates near historic lows, has stoked worries that many would-be buyers may be priced out of the market. Homebuilder Beazer Homes USA fell 2.9% and D.R. Horton slid 2%.

Company earnings reports are continuing to roll out. Texas Instruments fell 5.3% for the biggest drop in the S&P 500 after its results disappointed investors. The chip maker also gave a weak outlook for the second half of the year.

Union Pacific rose 1.1% after the railroad said its profits jumped 59% from a year earlier, helped by a 22% increase in cargo carried compared with a year earlier. The results also beat analysts’ expectations. Domino’s Pizza jumped 14.6% for the biggest gain in the S&P 500 after its results also surpassed estimates.

Intel was down 2.6% in after-market trading following the release of its quarterly results. Twitter also reported its results after the market closed. The social media portal was up 3.7% in extended trading.

ASX 200 futures pointing lower​The Australian share market looks to have run out of steam and is set to end the week in a subdued fashion. According to the latest SPI futures, the ASX 200 is expected to open the day 23 points or 0.3% lower this morning. 

This is despite Wall Street performing positively, with the Dow Jones rising 0.07%, the S&P 500 climbing 0.2%, and the Nasdaq pushing 0.36% higher.


----------



## bigdog

https://apnews.com/article/business...cial-markets-677af28bd446b9f532b2f0d5aa4a8810

*Wall Street rallies to record-breaking end of turbulent week*

By DAMIAN J. TROISE and STAN CHOE

Stocks rallied to records on Wall Street Friday, and the Dow Jones Industrial Average closed above the 35,000 level for the first time, as the market continued to roar back from its short-lived swoon at the start of the week.

The S&P 500 index climbed 44.31, or 1%, to 4,411.79 to top its prior all-time high, set early last week. The Dow rose 238.20, or 0.7%, to 35,061.55, and the Nasdaq composite gained 152.39, or 1%, to 14,836.99.

All three indexes finished with gains of better than 1% for the week, completely brushing aside the sharp downturn that trimmed 1.6% off the S&P 500 on Monday.

That drop was caused by worries about a potentially sharp slowdown in the economy due to a fast-spreading variant of the coronavirus. But the S&P 500 has since climbed four straight days, as big companies reported better profits than expected and as investors once again saw any dip in stocks as merely a chance to buy low.

The economy continues to recover at a torrid pace, with the question being how much growth will slow in upcoming months and years. A preliminary report from IHS Markit on Friday indicated U.S. manufacturing growth may be unexpectedly accelerating in July, though growth in services industries looks to be slowing more than economists expected.

The yield on the 10-year Treasury gave up some of its gain following the release of the report, but it still rose to 1.27% from 1.26% late Thursday. For months, it has been sending a concerning alarm about the economy as it dropped from a perch of roughly 1.75% in late March. But outside of Monday’s sudden swoon, the S&P 500 has mostly continued to plod higher.

Staffing provider Robert Half International jumped 7.4% for one of Friday’s biggest gains in the S&P 500 after it reported revenue and profit for the latest quarter that topped Wall Street’s expectations. It said it’s seeing a broad-based, global acceleration in demand for its services.

It led a widespread rally across the market, where more than 80% of the stocks in the S&P 500 rose. Communications stocks led the way after Twitter reported results that blew past Wall Street’s forecasts on growing advertising demand. It climbed 3%. Snap, the parent company of social media app Snapchat, soared 23.8% after reporting results that were much better than expected.

Such surprises have become the norm this reporting season. With roughly a quarter of all the profit reports in from S&P 500 companies, nearly 90% have topped Wall Street’s already high expectations for the spring.

Companies in the index are on pace to report roughly 74% growth for earnings in the second quarter from a year earlier, according to FactSet. That would be the strongest growth since the economy was exploding out of the Great Recession at the end of 2009.

Concerns have been rising about inflation, which has burst higher recently. But companies have neverthless been able to maintain their profits, often by raising their own prices.

S&P 500 businesses appear on track to say they made $124 in profit for every $1,000 in sales, according to FactSet. That would be a slight dip from $128 during the first three months of the year, but it would remain comfortably above the average of $108 over the last five years.

American Express rose 1.3% following its quarterly profit report, which showed a surge in revenue amid increased customer spending at restaurants, shops and entertainment venues.

On the losing end was Intel, which fell despite also reporting solid second-quarter earnings. It dropped 5.3%.

Boston Beer Co., which brews Samuel Adams, sank 26% amid worries about fizzling sales of hard seltzer.

As Wall Street looks through 2021 and into next year, a key concern remains the potential for “stagflation,” said Jay Hatfield, CEO of Infrastructure Capital Advisors. That’s when inflation continues rising while economic growth stagnates. Most analysts expect growth to continue moderating as the pandemic fades and the U.S. government and Federal Reserve ease their support.

“How do we get from hypergrowth to stagflation, how do you price that in?” he said. “That’s a key overhang.”

In European stock markets, indexes also rallied by roughly 1%. Asian stock markets were mixed, with Hong Kong’s Hang Seng down 1.4% and South Korea’s Kospi up 0.1%.


----------



## bigdog

ASX 200 expected to rise​The Australian share market is expected to start the week in a positive fashion. According to the latest SPI futures, the ASX 200 is expected to open the day 22 points or 0.3% higher. 

This follows a strong end to the week on Wall Street, which saw the Dow Jones rise 0.7%, the S&P 500 climb 1%, and the Nasdaq storm 1.05% higher. The latte could bode well for Australian tech shares today.


----------



## bigdog

Asian stock markets advance after Wall St rises to record
					

BEIJING (AP) — Asian stock markets were mostly higher Tuesday as investors looked ahead to a Federal Reserve report for an update on when U.S. stimulus might start winding down. Shanghai, Tokyo and Seoul advanced while Hong Kong retreated.




					apnews.com
				




*Stocks shake off a wobbly start and finish slightly higher*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped a wobbly day for stocks with modest gains Monday, nudging the major indexes further into record territory.

The S&P 500 shrugged off an early slide and gained 0.2%. Consumer-oriented companies, banks and energy and communications stocks helped lift the market. Those gains were kept in check by a pullback in health care and technology companies. Treasury yields mostly rose.

The modest gains follow a turbulent week for the market. A week ago, stocks fell sharply amid worries that fast-spreading variants of the coronavirus could threaten the economic recovery. But the swoon was short-lived, and the major stock indexes rallied to record highs on Friday.

Trading was more muted Monday, as investors monitored a steady flow of corporate earnings and looked ahead to Wednesday, when the Federal Reserve is due to deliver an update on the economy and its interest rate policy.

Traders will be listening for clues as to when the central bank might start winding down its extraordinary support measures for the economy and how concerned it is about inflation.

“The mood still revolves around inflation and whether it is transitory or not,” said Keith Buchanan, senior portfolio manager at Globalt Investments.

The S&P 500 rose 10.51 points to 4,422.30. The Dow Jones Industrial Average gained 82.76 points, or 0.2%, to 35,144.31. The Nasdaq composite added 3.72 points, or less than 0.1%, to 14,840.71.

Smaller companies fared slightly better than the broader market. The Russell 2000 index rose 7.27 points, or 0.3%, to 2,216.92.

Cruise lines, hotels and retailers were among the winners. Carnival rose 5.5%, Caesars Entertainment added 3.3% and Gap rose 3%. Among stocks that lost ground: Drugmaker Moderna slid 3.7% and chipmaker Nvidia fell 1.4%.

Treasury yields mostly rose. The yield on the 10-year Treasury rose to 1.30% from 1.28% late Friday. The yield, which is a benchmark for interest rates on mortgages and other consumer loans, has been mostly falling amid increasing unease over the economy since climbing to about 1.75% in late March.

Chinese technology companies slipped as China increases restrictions on them. China’s industry ministry announced a 6-month campaign to clean up what it says are serious problems with internet apps violating consumer rights, cyber security and “disturbing market order.” Internet giant Tencent’s U.S.-listed shares slid 10% following orders by regulators to end exclusive contracts with music copyright holders.

The announcement pulled most indexes in Asia lower. Hong Kong’s Hang Seng sank 4.1%, marking its biggest drop in more than a year, and the Shanghai Composite index fell 2.3%.

A wide range of companies reported earnings. While the results have been mostly solid, Wall Street’s reaction has been mixed. Elevator maker Otis rose just 0.6%, despite reporting solid financial results, while toymaker Hasbro jumped 12.2% for the biggest gain in the S&P 500 after handily beating analysts’ profit forecasts.

Investors are awaiting earnings reports from several large companies this week. Google’s parent company, Alphabet, will report earnings Tuesday, along with Apple and Microsoft. Pfizer and Boeing report their results on Wednesday.

Electric vehicle company Lucid Motors, now dubbed Lucid Group, rose 10.6% in its public debut after being bought by blank-check company Churchill Capital Corp.

The price of Bitcoin rose about 9% to $37,500, according to Coindesk. Amazon is reportedly considering accepting it as payment and considering its own cryptocurrency for purchases.

ASX 200 expected to rise​The Australian share market looks set to push higher on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 22 points or 0.30% higher at the open. 

This follows a positive night of trade on Wall Street, which saw the Dow Jones rise 0.24%, the S&P 500 climb 0.24%, and the Nasdaq edge slightly higher. The S&P 500 hit a new record high overnight.


----------



## bigdog

Asian stocks sink after Wall St pulls back from record
					

BEIJING (AP) — Asian stock markets declined Wednesday after Wall Street pulled back from a record as investors awaited a Federal Reserve report for signs of when U.S. stimulus might be withdrawn. Investors also were uncertain how much farther China will go with a regulatory crackdown that set...




					apnews.com
				




*Weakness in tech stocks pulls Wall Street back from records*

By DAMIAN J. TROISE and ALEX VEIGA

A slide in technology and consumer-oriented companies helped pull stocks lower on Wall Street Tuesday, dragging the major indexes below the record highs they set a day earlier.

The S&P 500 fell 0.5%, snapping a five-day winning streak. The selling was most pronounced in technology and communication stocks, and in companies that rely on consumer spending. Traders shifted money into sectors seen as less risky, including utilities, health care and in companies that make household and personal goods.

Investors also bought bonds, sending the yield on the 10-year Treasury note down to 1.24% from 1.27% late Monday. Long-term yields have eased off from their sharp rise earlier in the year, but Wall Street is still worried about inflation.

Markets have been choppy as investors try to get a clearer picture of how well the economy is recovering from the pandemic and how the Federal Reserve will eventually ease up on its support for the economy. The central bank is meeting Tuesday and will release its latest statement on Wednesday.

“The market is trying to find firmer footing on what to expect going forward,” said Alan McKnight, chief investment officer at Regions Asset Management.

The S&P 500 index fell 20.84 points to 4,401.46. The Dow Jones Industrial Average dropped 85.79 points, or 0.2%, to 35,058.52. The tech-heavy Nasdaq lost 180.14 points, or 1.2%, to 14,660.58.

Small company stocks also fell. The Russell 2000 index gave up 25.09 points, or 1.1%, to 2,191.83.

Part of the uncertainty hovering over markets has to do with COVID-19 and its potential impact on the recovery. Case numbers and hospitalizations have been ticking higher in certain parts of the U.S. and world as the Delta variant spreads.

“The pace of growth is being questioned because of COVID-19 variants,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. “There is some concern that the pace may not be as robust.”

Investors also were monitoring a regulatory clampdown by China on various companies. Chinese stocks fell again Tuesday after Beijing announced enforcement measures on technology and real estate and was reported to be considering restrictions on for-profit education ventures. Authorities say they need to protect public safety and financial stability, restrain surging housing costs and promote social welfare.

“In trying to understand the delta variant, what’s going on in China, is it a fundamental shift in the economic outlook, in the earnings outlook over the rest of the year and the beginning of the year?” McKnight said. ”We don’t think that it is, but we acknowledge that it creates volatility, particularly when you’ve already had a large run this year.”

Technology companies and a mix of consumer-oriented companies were among the biggest losers Tuesday.

Wednesday’s report from the Fed could give investors more clues about the central bank’s level of concern about inflation and when it might start reducing its monthly bond purchases that have helped keep interest rates low.

Many companies that have reported quarterly results in recent weeks have cited he impact of inflation on their costs. On Tuesday, General Electric and Stanley Black & Decker mentioned higher costs.

“One of the big questions that the market is going to be answering over the next couple of months: Are (companies) able to actually implement price increases to cover the increase in costs?” McKnight said.

Investors considered a mixed bag of earnings from several large companies. UPS slumped 7% after its revenue for the latest quarter fell short of analysts’ forecasts. Wall Street brushed off seemingly solid results from several other companies. Tesla fell 2% and industrial conglomerate 3M fell 0.6%, despite reporting solid financial results.

The Conference Board reported that consumer confidence edged higher in July, marking the sixth straight month that the measurement has risen. The International Monetary Fund said it expects the global economy to expand 6% this year, a dramatic bounce-back from the 3.2% contraction in the pandemic year of 2020.

The broad declines in the U.S. followed more drops in China. Hong Kong’s Hang Seng lost 4.2% and the Shanghai Composite lost 2.5%.

ASX 200 futures pointing lower​The Australian share market is poised give back some of its gains on Wednesday. This follows a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 21 points or 0.3% lower this morning. 

On Wall Street, the Dow Jones fell 0.24%, the S&P 500 dropped 0.47%, and the Nasdaq tumbled 1.21%


----------



## bigdog

Asia stocks advance, tech giants rally after Fed report
					

SINGAPORE (AP) — Asian stocks mostly rose Thursday after the Federal Reserve kept its accommodative monetary policies and signaled that economic recovery was on track.  Chinese technology giants led the way, as authorities moved to soothe jitters over anti-monopoly and data security enforcement...




					apnews.com
				




*Stocks end mixed after Fed notes progress on the economy*

By DAMIAN J. TROISE and ALEX VEIGA

Stock indexes capped a wobbly day of trading on Wall Street with mixed results Wednesday after the Federal Reserve said it was seeing improvement in the economy, but not enough to start dialing down its support measures.

The S&P 500 slipped less than 0.1% after giving up a brief afternoon gain. The Dow Jones Industrial Average fell 0.4%, while the Nasdaq composite rose 0.7%. The yield on the 10-year Treasury note held steady at 1.23%.

A slide in technology stocks, makers of household and personal products, and companies that rely on consumer spending weighed on the S&P 500. The pullback was kept in check by gains in communications, health care and energy stocks.

Following the Fed’s latest two-day policy meeting, the central bank said it was leaving its key interest rate unchanged and would continue to buy billions in bonds every month.

The Fed also noted that vaccinations were helping the economy, but it dropped a sentence in its statement that it had included after its previous meeting that said those vaccinations have reduced the spread of COVID-19. That was the only reference to the delta variant that has caused a spike in COVID cases in several hotspots in the United States and many other countries.

“The market really was not expecting any surprises, and what it ended up getting, as anticipated, was that the Fed would say that the economy continues to recover, but not strongly enough to alter current monetary policy,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 slipped 0.82 points to 4,400.64. The benchmark index remains within 0.5% of the all-time high it set on Monday. The Dow lost 127.59 points to 34,930.93, while the Nasdaq rose 102.01 points to 14,762.58.

Small-company stocks fared better than the broader market, driving the Russell 2000 index to a gain of 33.12 points, or 1.5%, to 2,224.95. The index had been down 0.1% before the Fed’s afternoon announcement.

“Maybe the worry was that the Fed would sound more hawkish and raise rates, which would have more of an adverse impact on small-caps, which have to borrow more than large-caps,” Stovall said.

The Fed has kept its benchmark short-term rate pegged at nearly zero since March 2020, when the pandemic tore through the economy. The central bank has also been buying $120 billion in Treasury and mortgage bonds each month in a bid to spur more borrowing and spending.

Analysts expect the Fed to move toward reducing the bond purchases that have helped keep interest rates low through the pandemic. The big question for investors is the timing and pace of such a pullback. The market is also weighing concerns about the pace of the economic recovery, which could be stymied by the renewed spread of COVID-19.

“The pace is going to be slower than some folks predicted because of the delta variant,” said Greg Bassuk, founder and CEO of AXS Investments. “We believe that we’re going to continue to see a greater opening recovery, but with a lot more volatility.”

There are also lingering concerns about whether inflation will continue to rise, depending on the economic recovery and supply chain problems that have made some goods more expensive.

Beyond the Fed, investors continued to review the latest batch of quarterly earnings reports.

Google’s parent company Alphabet was a standout, jumping 3.2% after reporting a profit surge last quarter. Pfizer also rose 3.2% after its profit and revenue surged on strong sales of its COVID-19 vaccine and other medicines. The drugmaker also raised its sales and profit forecasts for the year. Boeing jumped 4.2% after the airplane maker reported a surprise quarterly profit, its first since 2019.

Solid earnings weren’t enough to lift stocks for other companies. McDonald’s fell 1.9%, despite reporting a surge in revenue and beating analysts’ forecasts as dining rooms reopened. Facebook rose 1.5%, but lost that gain and more in extended trading despite reporting after the market closed that its second-quarter earnings doubled thanks to a massive increase in advertising revenue.

Investors will be focusing much of their attention on what companies are forecasting for the rest of the year. Those forecasts, along with a mix of economic reports on gross domestic product and personal income and spending, should give investors a clearer picture of the economic recovery’s trajectory as they head into August, Bassuk said.

Markets made gains in Europe and were mostly lower in Asia.

ASX 200 expected to rebound​The Australian share market looks set to bounce back on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 18 points or 0.25% higher this morning. 

This follows a mixed night of trade on Wall Street which saw the Dow Jones fall 0.36%, the S&P 500 trade flat, and the Nasdaq jump 0.7%.


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## bigdog

Asian shares lower after Wall St rebound on US growth data
					

BANGKOK (AP) — Asian shares and U.S. futures were mostly lower Friday after stocks pushed broadly higher on Wall Street.  Japan reported relatively strong economic data for the previous quarter, before the government began tightening coronavirus restrictions as cases surged.




					apnews.com
				




*Wall Street pushes broadly higher after two days of losses*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks on Wall Street bounced back from a two-day slide Thursday, placing the S&P 500 on pace for its second straight weekly gain.

The S&P 500 index rose 0.4%, powered by broad gains. About 77% of the stocks in the benchmark index closed higher. Technology stocks and banks made some of the biggest gains, along with a wide range of retailers and other consumer-oriented companies. Only communication services stocks and real estate companies fell.

The modest rally came as the latest government data showed continued economic growth and investors reviewed another batch of mostly positive corporate earnings reports.

Online brokerage Robinhood made an underwhelming debut on the Nasdaq, closing at $34.82, or 8.4% below its offering price of $38, which was the low end of its expected range.

The company has drawn millions of new investors to Wall Street with commission-free trades, but has also attracted controversy. It and other online brokerages rattled Wall Street earlier this year when investors used the platforms to drive up prices to seemingly unreasonable levels for “meme” stocks like GameStop.

The S&P 500 gained 18.51 points to 4,419.15. It is now less than 0.1% below the all-time high it hit on Monday. The Dow Jones Industrial Average rose 153.60 points, or 0.4%, to 35,084.53, while the Nasdaq added 15.68 points, or 0.1%, to 14,778.26. The Dow and Nasdaq also hovered just below their record highs set on Monday.

The yield on the 10-year Treasury note remained relatively stable. It edged higher to 1.27% from 1.26% late Wednesday.

A government report helped ease some concerns on Wall Street about the pace of the economic recovery. The Commerce Department said the U.S. economy grew at a solid 6.5% annual rate last quarter. The total size of the economy has now surpassed its pre-pandemic level. It also revised its figures for 2020, showing that the economy contracted by a slightly smaller amount than previously reported.

The latest GDP figure fell short of economists forecasts for 8.5% growth, but investors have largely brushed off the wide miss.

“That’s still an eyepopping number,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors, on the latest GDP figure.

Analysts have been expecting the economic recovery to slow from its breakneck pace earlier this year, but to remain steady as businesses reopen and people return to many of the things they were doing before the pandemic.

“Eventually the growth rates will slow, but it’s important to understand that just because the rate is slowing doesn’t mean we’re entering into a contraction,” Horneman said.

Investors also got encouraging news on the broader employment picture, which has tended to lag the rest of the recovery. Claims for unemployment benefits dropped by 24,000 to 400,000 last week, the Labor Department reported.

The upbeat economic data follows the Federal Reserve’s statement on Wednesday signaling that it will keep its support for the economy intact.

Yum Brands, which owns KFC and Taco Bell, rose 6.3% after strong customer demand helped it handily beat Wall Street’s profit and revenue forecasts. Ford rose 3.8% after the automaker reported a surprise second-quarter profit on sales of its pickup trucks and SUVs.

Facebook fell 4% and weighed down the S&P 500′s communications sector after it warned of slower growth through the rest of the year.

Amazon skidded 6.2% in extended trading after the internet retail giant reported mixed results for the second quarter after the market closed.

ASX 200 futures pointing slightly higher​The Australian share market could end the week on a mildly positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 4 points or 0.05% higher this morning. 

This follows a positive night on Wall Street, which saw the Dow Jones rise 0.44%, the S&P 500 climb 0.42%, and the Nasdaq edge 0.11% higher.


----------



## bigdog

*SEA OF RED FRIDAY*

https://apnews.com/article/business...cial-markets-64f2dcec85211ce4d71dba02937a022a

*Wall Street stumbles at the close of another strong month*

By DAMIAN J. TROISE and STAN CHOE

U.S. stock indexes fell Friday, with much of the downward weight coming from a stumble for high-flying Amazon.

The S&P 500 lost 23.89, or 0.5%, to 4,395.26. But it nevertheless wrapped up its sixth straight month of gains, its longest such streak since 2018, and it’s still within 0.6% of its record high set on Monday.

The Dow Jones Industrial Average fell 149.06, or 0.4%, to 34,935.47, and the Nasdaq composite dropped 105.59, or 0.7%, to 14,672.68.

Trading was mixed on Friday, with close to two stocks falling in the S&P 500 for every one that rose. Losses for banks and energy producers offset some modest gains for real-estate companies and raw-material producers.

Amazon dropped 7.6% after it reported sales growth for its latest quarter that, while still enviable at 27%, wasn’t as strong as analysts expected. It also gave a forecast for revenue in the current quarter that fell short of Wall Street’s.

Because Amazon is one of the biggest companies in the S&P 500, its stock movements carry extra weight on the index. It alone accounted for more than half of Friday’s drop for the S&P 500.

Amazon was one of the biggest winners of the pandemic, which forced people to hunker down and shop from home. But people have been returning to stores and other pre-pandemic activities.

Digital pinboard and shopping tool company Pinterest ran into a similar issue during its latest quarter. Its stock slumped 18.2% after it reported slower growth than expected for its number of users.

It’s been a busy week for earnings reports from companies, and roughly three out of five in the S&P 500 have now detailed their performance for the spring, according to FactSet. Profits so far have been blowing past the already lofty expectations Wall Street had set.

Perhaps even more important is how companies are doing it, said Sal Bruno, chief investment officer at IndexIQ.

“What’s really encouraging is that the sales surprise is trending positive,” he said. “That tells me that companies are growing, which goes along with the economic reopening.”

So far, 88% of companies have reported even bigger sales for the latest quarter than analysts expected, according to FactSet. That’s more than usual.

The strong earnings reports have helped to support the stock market, even as other worries have made trading more unsteady recently. Concerns are rising about whether a new variant of the coronavirus may dent the economy, while a crackdown by Beijing on Chinese tech companies has helped unsettle investors around the world. High inflation also remains a risk hanging over the market.

Treasury yields pulled lower following a spate of reports on the economy and inflation.

One showed that spending by consumers, which makes up the bulk of the economy, strengthened by more than economists expected in June. A key measure of inflation also accelerated to its fastest pace since 1991, but it wasn’t quite as high as economists thought it would be.

Incomes unexpectedly rose for Americans in June, while their expectations for inflation were slightly lower than economists had forecast.

The yield on the 10-year Treasury fell to 1.23% from 1.27% late Thursday.

The market could be in for more choppy trading through August, Bruno said.

“The fundamental outlook is generally pretty strong going forward, even if there is some shorter term weakness and volatility,” he said.


----------



## bigdog

ASX 200 poised to bounce back​The Australian share market is expected to bounce back on Monday. According to the latest SPI futures, the ASX 200 is expected to open the day 37 points or 0.5% higher this morning. 

This is despite a poor end to the week on Wall Street, which saw the Dow Jones fall 0.4%, the S&P 500 drop 0.55%, and the Nasdaq tumble 0.7% lower.


----------



## bigdog

Asian markets lower on virus worries after Wall Street slips
					

BEIJING (AP) — Asian stock markets followed Wall Street lower on Tuesday as jitters about the fast spread of the coronavirus's delta variant dented enthusiasm about strong corporate profits. Investors looked ahead to U.S.




					apnews.com
				




*Stocks end mixed after starting August off on a choppy note*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks gave back some of their recent gains Monday after a day of choppy trading on Wall Street led the major indexes to a mixed finish.

The S&P 500 slipped 0.2% in the final hour of trading after holding a slight gain for much of the afternoon. The benchmark index is coming off a weekly loss, though it ended July higher, its sixth straight month of gains. It remains within 0.8% of the all-time high it set a week ago.

A slide in technology, industrial, raw materials and communication companies weighed on the market. Energy stocks also fell in tandem with crude oil prices. Gains by health care stocks, utilities and a variety of retailers and other companies that rely on direct consumer spending helped keep the losses in check.

Demand for U.S. bonds rose, pushing their prices higher and sending their yields lower. In another sign of caution among traders, small company stocks fell more than the rest of the market.

While investors are feeling bullish about strong company earnings reports, with more expected this week, they’re also nervous about the spread of the more contagious delta variant of the coronavirus and how it might impact the economic recovery.

“There’s hope the delta variant’s resurgence is going to peak soon, but that’s not clear,” said Rob Haworth, senior investment strategy director at U.S. Bank Wealth Management. “That’s weighing on the market a little bit.”

The S&P 500 fell 8.10 points to 4,387.16. The Dow Jones Industrial Average dropped 97.31 points, or 0.3%, to 34,838.16, while the Nasdaq composite added 8.39 points, or 0.1%, to 14,681.07. The Russell 2000 index of smaller companies lost 10.75 points, or 0.5%, to 2,215.50.

Bond yields fell again. The yield on the 10-year Treasury note slipped to 1.17% from 1.24% on Friday. Crude oil prices closed 3.6% lower.

Investors are still closely watching any developments with the virus pandemic and how mutations and variants might impact economic growth amid a surge in new infections that’s driving hospital caseloads in some places to their highest levels since the outbreak began. Still, analysts don’t expect a big pullback in consumer or economic activity.

“The impact on the economy will be considerably more limited than it was in previous waves,” said Gary Schlossberg, global strategist at Wells Fargo Investment Institute.

This week will be busy for investors. Roughly 150 members of the S&P 500 will report their results, and the July jobs report comes out on Friday.

Companies that will report this week include DuPont, Eli Lilly, CVS, Kraft Heinz, General Motors and Humana, among many others.

So far earnings season has been strong for corporate America, with the average S&P 500 company reporting an 85.1% growth in profits from last year. Roughly nine out of ten companies have beaten expectations on both profits and revenue. The index is on pace to have its strongest earnings season since 2009.

Investors also have their eye on Washington after Republicans and Democrats made progress in advancing President Joe Biden’s infrastructure package over the weekend. The package is expected to be passed in the Senate by the end of the week.

Traders are getting a few pieces of economic data this week that could help them better gauge the economy’s health.

The Institute for Supply Management, a trade group of purchasing managers, said manufacturing slowed in July. Many companies are being held back by supply chain issues. The trade group will release its report on the services sector on Tuesday, which is a much bigger piece of the U.S. economy.

Meanwhile, Square jumped 10.2% after the payments company said it would acquire the “buy now, pay later” company Afterpay for $29 billion.

ASX 200 expected to fall​
It looks set to be a tough day of trade for the Australian share market on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 24 points or 0.3% lower this morning. 

This follows a subdued start to the week on Wall Street, which saw the Dow Jones fall 0.28%, the S&P 500 drop 0.18%, and the Nasdaq edge slightly higher. The RBA meeting this afternoon could also have an impact on the market late on.


----------



## bigdog

Asian stocks rise following uptick on Wall Street
					

SINGAPORE (AP) — Asian stocks were mostly higher Wednesday as traders mirrored overnight gains on Wall Street during another busy earnings week.  The Kospi in South Korea advanced 0.9% to 3,264.78 and the Hang Seng in Hong Kong added 1.5% to 26,589.87.




					apnews.com
				




*Stocks shake off a wobbly start, end higher on Wall Street*

By DAMIAN J. TROISE and ALEX VEIGA

Technology and health care companies led a broad rally on Wall Street Tuesday that helped stocks overcome a wobbly start and recoup their losses from a day earlier.

The S&P 500 rose 0.8% after having been down 0.3% in the early going. The gain inched the benchmark index to an all-time high, eclipsing the record it set early last week.

Banks, industrial companies and energy stocks also helped push the S&P 500 higher. Communications companies were the only laggard. Treasury yields were mixed.

Investors weighed another large swath of company earnings reports Tuesday, including quarterly snapshots from Ralph Lauren and Clorox. While earnings have been strong, Wall Street remains cautious over COVID-19 and its potential impact on a still recovering economy amid the spread of the highly contagious delta variant.

This mutant version of COVID-19 is still reason for caution, but it likely won’t have a significant impact on the economy’s reopening and recovery because hospitalizations are relatively tame and fatalities are very low in comparison to infections, said Jason Pride, chief investment officer of private wealth at Glenmede.

“We may still deal with the lingering residual effects of the pandemic,” Pride said. “You’ve probably got a period of time where the economy has to restitch itself back together.”

The S&P 500 rose 35.99 points to 4,423.15. The Dow Jones Industrial Average gained 278.24 points, or 0.8%, to 35,116.40. and the Nasdaq composite index picked up 80.23 points, or 0.6%, to 14,761.29.

Smaller company stocks also notched gains. The Russell 2000 index rose 8.09 points, or 0.4%, to 2,223.58.

Investors are in the midst of earnings season, with more than 100 companies in the S&P 500 index reporting their results this week. So far earnings have been strong, with roughly nine out of every 10 companies beating analysts’ expectations.

Clorox slumped 9.5%, the stock’s biggest single-day drop since 2000, after reporting results that fell short of forecast and releasing a disappointing outlook.

Solid financial results helped lift several other companies. Ralph Lauren climbed 6.1% after handily beating analysts’ fiscal first-quarter profit forecasts as sales rebounded. Columbia Sportswear rose 0.6% after reporting a surprise second-quarter profit.

Activision Blizzard fell 3.5% after the head of Blizzard Entertainment said he would resign, effective immediately. Blizzard, maker of popular video games such as “Overwatch” and “World of Warcraft,” has been accused in a lawsuit of having a toxic work environment which has caused walkouts by employees.

Online broker Robinhood jumped 24.2% and topped its IPO price for the first time since its stock began trading last Thursday.

Bond yields were relatively stable. The yield on 10-year Treasury inched up to 1.18% from 1.17% from the day before. Less than a month ago, the 10-year note was trading around a yield of 1.35%.

Investors will be watching closely when the Labor Department releases its July jobs report Friday. Economists surveyed by FactSet forecast that the employers created 837,500 jobs last month and the unemployment rate fell to 5.7%.

*ASX 200 futures pointing higher*

The Australian share market is expected to push higher on Wednesday following a strong night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 12 points or 0.15% higher this morning.

On Wall Street, the Dow Jones rose 0.8%, the S&P 500 stormed 0.82% higher, and the Nasdaq pushed 0.55% higher.


----------



## bigdog

Asia stocks mixed with eyes on US economic recovery
					

SINGAPORE (AP) — Asian stocks were mixed Thursday as traders awaited more guidance on the U.S. economic recovery. The Nikkei 225 in Tokyo rose 0.3% to 27,678.79 while the Kospi in South Korea lost 0.1% to 3,278.13.




					apnews.com
				




*Stocks slip on Wall Street, pulling S&P 500 below record*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks gave back some of their recent gains Wednesday after a disappointing jobs report stoked worry about the strength of the economic recovery as a highly contagious variant of the coronavirus spreads.

The S&P 500 fell 0.5%, easing back from the all-time high the benchmark index set a day earlier. Crude oil prices fell more than 3% and pushed energy companies lower. Industrial firms, banks, retailers, hotels and other companies that rely on direct consumer spending also fell. Those losses outweighed gains in technology and communication stocks.

Payroll processor ADP revealed a disappointing snapshot of the nation’s employment recovery, adding to concerns about the lagging recovery in the jobs market. ADP said the private sector added 330,000 jobs in July, falling far short of economists’ expectations. The report comes ahead of the Labor Department’s more comprehensive July jobs report on Friday.

“You’re getting some mixed signals, certainly, but we think we’ll get some good growth and the underlying economy is pretty good,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute.

The recovery in the jobs market will likely continue to be bumpy, but it’s on track to continue improving over the long term, he said.

The S&P 500 fell 20.49 points to 4,402.66. The Dow Jones Industrial Average dropped 323.73 points, or 0.9%, to 34,792.67. The Nasdaq composite added 19.24 points, or 0.1%, to 14,780.53. The Dow and Nasdaq each hit all-time highs just last week.

Stocks have been choppy this week as investors continue to pore over corporate earnings reports while reviewing economic data for clues as to how the economic recovery is going.

Wednesday’s jobs survey from ADP raised doubts that Friday’s broader July jobs report will exceed expectations. Economists are projecting that U.S. employers added 700,000 jobs last month, and that the national unemployment rate slipped to 5.7% from 5.9%, according to FactSet.

That outlook is now likely too optimistic, because of the sudden resurgence in COVID-19 cases due to the delta variant, Brad McMillan, chief investment officer for Commonwealth Financial Network, wrote Wednesday.

And if Friday’s job report shows a similar shortfall as the ADP survey, that “would signal that the job recovery has slowed, at a minimum,” McMillan wrote.

Traders also weighed an encouraging report on growth in the services sector, which makes up the bulk of the U.S. economy. The Institute for Supply Management reported that in July the sector grew at its fastest pace since the survey started in 2008.

Bond yields mostly recovered from an early slip following the release of the report. The yield on the 10-year Treasury dropped to 1.16%, down from 1.17% late Tuesday. It dipped as low as 1.13% in early trading.

The resurgence of COVID-19 with the highly contagious delta variant in spots around the world is also a key concern for Wall Street. China’s worst outbreak since the start of the pandemic a year and a half ago escalated Wednesday with dozens more cases around the country and the sealing-off of one city.

While analysts don’t expect the spike in infections to send the world back in to the lockdowns experienced a year ago, it could still stunt economic growth.

Still, worries about the delta variant, sluggish employment growth and signs the Federal Reserve is beginning to consider reducing its support for the economy amid rising inflation all point to “slowing growth later in the year, or more likely 2022,” said Jay Hatfield, CEO of Infrastructure Capital Advisors.

Investors are also still in the thick of corporate earnings season. The results have been solid so far. Roughly 75% of companies in the S&P 500 have turned in their earnings and the majority have been surprisingly good.

Strong profit and revenue results weren’t enough to lift stocks for many companies on Wednesday, however. General Motors fell 8.9% despite overcoming an industry-wide chip shortage to beat analysts’ profit expectations and raise its forecast. CVS Health slipped 2.9% after also reporting solid results.

Ticket seller and concert promoter Live Nation rose 1.5% after reporting surprisingly mild second-quarter loss. Cruise line operator Royal Caribbean Group slid 2.5% after its latest quarterly results fell short of analysts’ expectations.

Online broker Robinhood surged 50.4%, a big turnaround following its tepid stock market debut last week. Trading was volatile and had to be halted three times shortly after the market opened. Market experts have cautioned that Robinhood’s stock could be in for a jagged ride because of its popularity among smaller investors.

*ASX 200 expected to fall*
The Australian share market looks set to fall on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 13 points or 0.2% lower this morning. 

This follows a poor night of trade on Wall Street which saw the Dow Jones fall 0.92%, the S&P 500 drop 0.46%, and the Nasdaq edge 0.13% higher.


----------



## bigdog

Asian stocks sink as investors watch for US jobs data
					

BEIJING (AP) — Asian stock markets sank Friday after Wall Street rose to a high as investors waited for U.S. jobs data for an update on how coronavirus flareups are affecting the biggest global economy.




					apnews.com
				




*Stocks climb on Wall Street, notching more record highs*

By DAMIAN J. TROISE and ALEX VEIGA

A broad rally on Wall Street pushed stocks higher Thursday, nudging the S&P 500 and Nasdaq indexes to record highs.

The gains reversed the market’s modest losses from a day earlier. Despite a choppy week of trading, the major indexes are on pace for weekly gains.

The S&P 500 rose 0.6%, eclipsing its previous all-time high set Tuesday. Technology stocks, retailers and other consumer-facing companies, and communications stocks helped lift the market. Banks made solid gains as long-term bond yields rose, which lenders rely on to charge higher interest rates on loans. The yield on the 10-year Treasury rose to 1.21% from 1.18% late Wednesday. Only Health care and materials stocks fell.

Encouraging jobs data and a strong batch of corporate earnings reports helped put investors in a buying mood. Traders were also looking ahead to the government’s latest monthly national jobs report Friday morning, which should provide insight into how the labor market is faring amid a surge in cases of the highly contagious COVID-19 delta variant.

“You do have a little bit of trepidation and concern around how the Covid flareups are going to impact things,” said Andrew Mies, chief investment officer at investment advisory firm 6 Meridien. “I don’t think that anybody has a great idea of what the magnitude of this could look like if we go out two or three weeks.”

The S&P 500 index rose 26.44 points to 4,429.10. The Dow Jones Industrial Average gained 271.58 points, or 0.8%, to 35,064.25. The Nasdaq climbed 114.58 points, or 0.8%, to 14,895.12.

Smaller company stocks outpaced the broader market in a sign that investors are feeling more confident about economic growth. The Russell 2000 rose 39.69 points, or 1.8%, to 2,236.01.

Wall Street got another glimpse of the recovering jobs market after the Labor Department reported that unemployment claims — a proxy for layoffs — dropped last week by 14,000. The generally encouraging report follows a weak report from payroll processor ADP on Wednesday showing that the private sector added jobs at a much slower pace than expected in July.

The labor market has lagged other areas of the economy during the recovery from the virus pandemic. Investors will get a more comprehensive picture on Friday when the Labor Department releases its July jobs report.

Investors also weighed another batch of earnings reports. Underwear maker Hanesbrands jumped 6.3% after reporting solid second-quarter financial results. Booking Holdings rose 5.9% after it reported solid revenue.

Several companies that benefited from the shift in consumer habits during the height of the pandemic slipped after releasing disappointing results or forecasts. Online crafts marketplace Etsy fell 9.7% after giving investors a weak sales forecast as more people return to shopping in person. Video-streaming service Roku shed 4% after active accounts and streaming hours fell short of analysts’ forecasts.

Weber, the pioneering grill maker, jumped 17.9% in its stock market debut.

ASX 200 futures pointing slightly higher​The Australian share market could end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 4 points higher this morning. 

This follows a very strong night on Wall Street, which saw the Dow Jones rise 0.78%, the S&P 500 climb 0.6%, and the Nasdaq storm 0.78% higher.


----------



## bigdog

https://apnews.com/article/business...cial-markets-602a38ea3e4a0f4b10ceb7cd8403cd9e

*Strong jobs report sends most stocks, bond yields higher*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped a choppy week of trading Friday with broad gains, which helped push the S&P 500 and Dow Jones Industrial Average to new highs.

The S&P 500 rose 0.2%, a day after setting another all-time high. Every major index notched a weekly gain after slipping last week.

Some of the sharpest action happened in the bond market, where Treasury yields tend to move with expectations for the economy and for inflation. The yield on the 10-year Treasury climbed to 1.31% from 1.21% late Thursday, clawing back all the losses it sustained over the last week.

Investors weighed a government report showing the U.S. job market is making widespread improvements. Most stocks across Wall Street rose following the report, with companies whose profits are most closely tied to the strength of the economy leading the way. Financial companies notched the biggest gains within the S&P 500, climbing 2%. Materials companies also were big winners, adding 1.5%.

“Now, growth looks like it’s on a pretty solid footing,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

The S&P 500 rose 7.42 points to 4,436.52. The benchmark index notched a 0.9% gain for the week. The Dow gained 144.26 points, or 0.4%, to 35,208.51. The Nasdaq fell 59.36 points, or 0.4%, to 14,835.76, while the Russell 2000 index of smaller companies rose 11.75 points, or 0.5%, to 2,247.76.

Friday’s jobs report showed that hiring was stronger than economists expected, with employers adding 943,000 workers to their payrolls. Average wages also jumped 4% in July from a year earlier, more than economists expected.

Bond yields jumped after economists said the encouraging jobs report will give the Federal Reserve another nudge to pare back its bond-buying program, which is trying to juice the economy by keeping longer-term rates low. Economists say an announcement by the Fed about a possible slowdown in purchases could come as soon as the end of the month.

The solid jobs report and expectations for a recovery in the labor market could nudge investors back toward companies that are poised to benefit from people going out and spending more, including airlines, retailers, restaurants and other firms providing in-person services, Samana said.

The better-than-expected data on the economy took momentum out of technology stocks, which have been some of Wall Street’s biggest winners since the pandemic.

They’ve been big beneficiaries of the ultra-low interest rates the Federal Reserve has brought about. When bonds are paying little in interest, investors are willing to pay higher prices for other kinds of investments, particularly stocks of companies with big earnings growth forecast far in the future.

A rise in interest rates could undercut those stocks, or at least add a headwind that has been largely absent for more than a year. A slowdown in bond purchases by the Fed would be the first step toward raising short-term interest rates off their record low of nearly zero.

That’s why the Nasdaq struggled more than other indexes Friday. It’s also why the benchmark S&P 500 made mostly listless moves, even though more than 60% of the stocks within the index rose.

Apple, Microsoft, Nvidia and other technology stocks make up 28% of the S&P 500 by market value, more than double the weight of any of the other 10 sectors that comprise the index. That doesn’t even include some big tech-oriented companies like Amazon and Tesla.

Those five companies were the biggest weights on the S&P 500.

The biggest gain in the S&P 500 came from Corteva, an agricultural company spun off from DowDuPont. It jumped 8% after reporting stronger revenue and earnings for the latest quarter than Wall Street expected.

That’s been the norm for this earnings reporting season. Close to 90% of the companies in the S&P 500 have told investors how much profit they earned during the spring, and their earnings were roughly double what they were a year ago.


----------



## bigdog

ASX 200 expected to rise​
The Australian share market is expected to continue its positive run on Monday. According to the latest SPI futures, the ASX 200 is expected to open the day 30 points or 0.4% higher this morning. 

This follows a reasonably solid end to the week on Wall Street, which saw the Dow Jones rise 0.4%, the S&P 500 climb 0.2%, but the Nasdaq tumble 0.4% lower.


----------



## bigdog

https://apnews.com/article/business...cial-markets-25967954ebc27aeee385ebbef95f8844

*Stocks end a wobbly day lower, edging below recent records*

By DAMIAN J. TROISE and ALEX VEIGA

Technology and energy companies led stocks lower on Wall Street Monday, easing the market back from its recent all-time highs.

The S&P 500 slipped 0.1%, erasing an early gain. Technology companies accounted for a big share of the decline. Industrial and consumer-centric stocks also fell. Those losses outweighed gains in health care companies, banks and elsewhere in the market.

Energy companies slumped the most among S&P 500 stocks as the price of benchmark U.S. crude oil fell 2.6% to its lowest levels since May. The move lower follows a decline of 7.7% last week. Occidental Petroleum shed 3%.

Every major index was coming off weekly gains last week, which ended with record highs for the S&P 500 and the Dow Jones Industrial Average.

The modest pullback is another example of the volatility the market has seen amid uncertainty over the impact COVID-19 variants will have on the economy and the Federal Reserve’s next monetary policy moves, said Sylvia Jablonski, chief investment officer at Defiance ETFs.

“People who got in and saw some of the stocks that they hold at all-time highs on Friday, perhaps they’re selling a little bit off today and might be opportunistically trading some of this volatility,” she said.

The S&P 500 fell 4.17 points to 4,432.35. The Dow dropped 106.66 points, or 0.3%, to 35,101.85. The Nasdaq added 24.42 points, or 0.2%, to 14,860.18.

Smaller companies fell more than the rest of the market. The Russell 2000 index lost 12.95 points, or 0.6%, to 2,234.81.

Bond yields moved higher. The yield on the 10-year Treasury rose to 1.32% from 1.28% late Friday. Bond yields tend to move with expectations for the economy and for inflation.

The latest round of corporate earnings is winding down, and nearly 90% of companies in the S&P 500 have reported their latest results. The reports have been mostly solid. Tyson Foods jumped 8.7% for one of the biggest gains in the S&P 500 Monday after handily beating Wall Street’s profit forecasts.

Investors are also closely watching the world’s reaction to the latest surge of the coronavirus. Some governments have reimposed limits on business and travel. China canceled flights as it tries to stop a rash of outbreaks. Australia’s two most populous states have told people to stay home except to go to work or for a handful of other reasons.

Analysts expect the U.S. and global economies to continue growing, but have cautioned that the resurgent virus could slow down the pace.

“That’s one part of the story and that could be holding back” the stock market, said David Kelly, chief global strategist at JPMorgan Funds. “We don’t really have a handle on how bad the delta variant might get.”

Investors have been taking in a steady stream of encouraging economic reports. The latest from the Labor Department shows that U.S. employers posted a record 10.1 million job openings in June. That follows Friday’s report that the economy generated 943,000 jobs last month and the unemployment rate fell to 5.4% from 5.9% in June.

The solid jobs figures also raise some concerns about wage inflation and the pace of economic growth.

“We’re burning our way back to full employment fast,” Kelly said. “Once we get there the economy is going to slow down.”

The latest figures also raise concerns about inflation fueled by the improving job market, as employers are potentially forced to raise wages to fill jobs.

Investors will get another piece of data on inflation when the Labor Department releases its consumer price index for July on Wednesday. Wall Street is still trying to gauge how much inflation might rise as the economy recovers and whether that will push the Federal Reserve to trim back its support for the economy sooner than expected.

Major indexes in Europe edged lower while indexes in Asia ended mixed.

ASX 200 expected to rise​It looks set to be a positive day of trade for the Australian share market on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 25 points or 0.35% higher this morning. 

This is despite a poor start to the week on Wall Street, which saw the Dow Jones fall 0.3%, the S&P 500 drop 0.09%, and the Nasdaq edge 0.16% higher.


----------



## bigdog

https://apnews.com/article/business...cial-markets-0b689a40668f98da7cabc42f453ed26c

*Stocks edge higher as banks, industrials offset tech slide*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks capped another wobbly day of trading on Wall Street with modest gains Tuesday, as financial and industrial companies helped lift the market, outweighing a pullback in technology stocks.

The S&P 500 recovered from an early slip and eked out a 0.1% gain, enough to eclipse the record high it set Friday. The majority of companies in the benchmark index made gains, but they were kept in check by technology companies, which have an outsized weight on the S&P 500.

Banks made some of the strongest gains as bond yields edged higher. Banks benefit from higher yields, which allow them to charge higher interest rates on loans. The yield on the 10-year Treasury rose to 1.35% from 1.31% late Monday.

Oil prices pulled up after sliding most of the last week and into Monday. U.S. benchmark crude oil rose 2.7% and helped lift the S&P 500′s energy sector to 1.7% gain. Exxon Mobil rose 1.7% and Chevron gained 1.8%.

The broader market remains choppy with investors in the midst of a relatively quiet week. The latest round of corporate earnings is nearly finished and there are only a few pieces of economic data expected.

“We think this is a growing market and a growing economy and there’s room for this market to move,” said Rob Haworth, senior investment strategy director at U.S. Bank Wealth Management. “But that growth story does have some risk to it.”

The S&P 500 gained 4.40 points to 4,436.75. The Dow Jones Industrial Average rose 162.82 points, or 0.5%, to 35,264.67. The blue-chip index also notched an all-time high.

The slide in technology stocks weighed on the tech-heavy Nasdaq, which lost 72.09 points, or 0.5%, to 14,788.09. Small company stocks rose. The Russell 2000 index gained 4.55 points, or 0.2%, to 2,239.36.

Wall Street is still trying to gauge the pace of economic growth amid new worries about the latest wave of COVID-19 from the more contagious delta variant. Parts of Japan, including Tokyo, the capital, remain under a state of emergency as surging numbers of infections put more COVID-19 patients in already overburdened hospitals.

Analysts have said that the pace of growth will likely continue to slow as the year rolls on, but the latest surge with the virus has raised more concerns about just how much. Investors could have a better sense of the virus’ impact on the economy in the coming months as schools reopen from summer break and people try to get back to normal activities, Haworth said.

Inflation concerns and the Federal Reserve’s future plans to ease up on its support for low interest rates also hangs over the markets.

Earnings season is wrapping up with several big names. Sysco surged 6.5% after the food distributor reported quarterly results that topped Wall Street’s estimates.

Ebay will report its results on Wednesday and Walt Disney will report results on Thursday.

Kansas City Southern jumped 7.5% after Canadian Pacific raised its offer for the railroad operator, reigniting a bidding war with Canadian National.

ASX 200 futures pointing higher​The Australian share market is expected to push higher on Wednesday following a decent night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 19 points or 0.25% higher this morning. 

On Wall Street, the Dow Jones rose 0.46%, the S&P 500 pushed 0.1% higher, and the Nasdaq dropped 0.49%. US markets were boosted by a US$1 trillion infrastructure bill.


----------



## bigdog

https://apnews.com/article/business...cial-markets-26cd2a7ee6b5ee0f6cacc4938a89a8e4

*S&P 500, Dow industrials mark records but Nasdaq lags behind*

By DAMIAN J. TROISE and ALEX VEIGA

Banks and industrial companies helped lift stocks on Wall Street mostly higher Wednesday, pushing the S&P 500 and Dow Jones Industrial Average past the record highs they set a day earlier.

The S&P 500 rose 0.2% after another wobbly day of trading. Nearly three-fourths of the companies in the benchmark index notched gains, including energy stocks, which rose along with the price of crude oil. Health care was the only sector to fall.

After a stumbling start to the week, stocks have been moving higher on the back of strong earnings and better-than-expected economic data.

Traders got a dose of decent economic news Wednesday when the Labor Department said that consumer prices rose 0.5% from June to July, down from the previous monthly increase of 0.9%. Year over year, consumer prices have increased a substantial 5.4%.

Investors’ relief that the June data didn’t show a bigger increase in inflation may have kept stock prices moving higher, said Sam Stovall, chief investment strategist at CFRA.

“Our estimate was that June was going to be the peak month in inflation, and it appears that it was,” Stovall said.

The S&P 500 index rose 10.95 points to 4,447.70. The Dow gained 220.30 points, or 0.6%, to 35,484.97. Both indexes also set all-time highs on Friday and Tuesday.

Weakness in some technology stocks helped pull the Nasdaq composite slightly lower. It fell 22.95 points, or 0.2%, to 14,765.14.

Smaller company stocks rose. The Russell 2000 index picked up 10.98 points, or 0.5%, to 2,250.34.

Bond yields mostly edged lower. After reaching 1.36% in the early going, the yield on the 10-year Treasury slipped to 1.33% from 1.34% late Tuesday.

Investors’ concerns about inflation and uncertainty about the Federal Reserve’s future plans to ease up on its support for low interest rates have been hanging over the market.

While the headline figures may seem bad, most of the rise in consumer prices has been tied to very specific goods that are not expected to impact the long-term health of the economy, like used cars, building materials and hotel rooms. These items came into short supply during the pandemic, and the increased economic activity has made prices for those items rise faster than usual.

The Federal Reserve has repeatedly said it believes any increase in inflation would be temporary and largely a result of the supply disruptions that happened because of the pandemic. Investors will get another inflation snapshot Thursday, when the Labor Department issues its July wholesale price data.

Banks made some of the strongest gains Wednesday after bond yields initially edged higher, which benefits lenders because it allows them to charge higher interest on loans. Bank of America rose 1.3%.

Industrial stocks also helped lift the market. United Rentals climbed 5% for one of the biggest gains in the S&P 500.

Traders had a mix of earnings and corporate news to review. Coinbase, a platform where traders can buy and sell digital currencies like Bitcoin, rose 3.2% after reporting strong growth in the last quarter.

Weight-loss program operator WW International plunged 24.6% after reporting disappointing second-quarter financial results, while hamburger chain Wendy’s rose 3.7% after raising its profit forecast for the year and increasing its dividend.

Meanwhile, the New York Stock Exchange will begin requiring on Sept. 13 that anyone entering its trading floor show proof that they’ve been vaccinated against COVID-19, according to an email obtained by the Associated Press.

Persons granted an exception to the rule because they can’t get vaccinated due to qualifying medical or religious reasons will be required to show they tested negative for the virus three times a week. The policy change, which applies to anyone with access to the NYSE or American Options Trading Floors, comes as alarm grows over the rapidly spreading delta variant.

ASX 200 expected to edge higher​The Australian share market looks set to rise again on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 6 points or 0.1% higher this morning. 

This follows a solid night of trade on Wall Street which saw the Dow Jones climb 0.62% to a record high, the S&P 500 rise 0.25%, and the Nasdaq edge 0.16% lower.


----------



## bigdog

https://apnews.com/article/business...cial-markets-3c93ec84d359ee89b2bf2f597a7da9d8

*Stocks end higher on Wall Street as Big Tech climbs*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks capped another wobbly day of trading on Wall Street with more gains Thursday, as strength in technology and health care companies outweighed a pullback elsewhere in the market.

The S&P 500 eked out a 0.3% gain, good enough for its third straight all-time high. The benchmark index managed to end higher despite a majority of its companies closing lower. Gains for several big technology stocks, including Apple, countered weakness in chipmakers, industrial firms and energy companies. Treasury yields rose and crude oil prices fell.

Stocks wobbled between small gains and losses for much of the day in quiet trading as investors weighed a mix of new economic data showing jobless claims fell last week and inflation at the wholesale level jumped more than expected last month.

“The market is a little sleepy today,” said Greg Bassuk, CEO of Axs Investments. “Investors are looking to hang their hat on some outsized economic data that can give more certainty around the extent to which the economy is opening up.”

The S&P 500 rose 13.13 points to 4,460.83. The Dow Jones Industrial Average also recovered from an early slide to gain 14.88 points, or less than 0.1%, to 35,499.85. The blue-chip index also set its third record high in three days.

The tech-heavy Nasdaq added 51.13 points, or 0.3%, to 14,816.26. Small-company stocks fell, dragging the Russell 2000 index down 6.27 points, or 0.3%, to 2,244.07.

Investors worked through a mixed picture of economic data Thursday. The Labor Department said that jobless claims fell to 375,000 from 387,000 the previous week, another sign that the job market is healing from the pandemic.

At the same time, inflation at the wholesale level jumped a higher-than-expected 1% in July, matching the rise from the previous month, and dimming hopes that the upward trajectory of prices would begin to slow. The producer price index has risen a record 7.8% over the last 12 months. That’s the largest one-year increase in a series going back to 2010.

Much of the increase is coming from services, such as airline travel. Airline ticket prices are especially high as the industry tries to recover from the pandemic-forced slump in travel. Other areas are starting to ease up, though, with food costs falling for the time since December.

Investors have been particularly concerned about inflation for several months, despite assurances from the Federal Reserve and other officials that any inflation would be temporary and a result of the economy recovering. Bond yields have risen sharply the last week on those concerns, with the 10-year Treasury note trading at 1.37% versus 1.34% the day before.

The hopes for a continued recovery in the jobs market and concerns about inflation are hovering over the market as investors try to gauge the pace of economic growth after a sharp increase earlier in the year. Analysts expect the economy to grow at a slower pace as the economy moves past the pandemic and the sharp comparisons between 2021 and 2020.

“We don’t have a different economy than what we had going into the pandemic,” said Kimberly Woody, senior portfolio manager at Globalt. “Once you get rid of the comparisons and you cross the anniversary of the fourth quarter, you’re right back at the same economy you had before.”

Big Tech companies helped add to the S&P 500′s gains Thursday. Apple rose 2.1% and Adobe gained 1.3%, while chipmakers Micron Technology fell 6.4% and Lam Research slid 4.1% for some of the biggest declines in the index.

Investors also bid up shares in companies that reported better-than-expected quarterly results. Organon & Co. jumped 11.9% for the biggest gain in the S&P 500 after the company’s earnings and revenue topped Wall Street’s forecasts. Dillard’s also got a boost from its latest quarterly report card and rose 5.1%.

The Walt Disney Co. rose 5.1% in after-hours trading after the media giant returned to profitability in its most recent quarter as reopened theme parks sent its revenue higher.

ASX 200 futures pointing higher​The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 29 points or 0.4% higher this morning. 

This follows a decent night on Wall Street, which saw the Dow Jones rise slightly to 0.04%, the S&P 500 climb 0.3%, and the Nasdaq push 0.35% higher


----------



## bigdog

https://apnews.com/article/business-asia-financial-markets-fb02864f2586544ea41f94c22a7a9da0

*US stocks eke out gains, leaving S&P 500 higher for the week*

By DAMIAN J. TROISE and ALEX VEIGA

Another wobbly day of trading on Wall Street gave way Friday to small gains and new highs for the S&P 500 and Dow Jones Industrial Average.

The two indexes wavered for much of the day before eking out their fourth straight gains. The benchmark S&P 500 rose 0.2% and notched its second-straight weekly increase. The Dow and the Nasdaq edged up less than 0.1%.

Stocks in the S&P 500 were nearly evenly split between winners and losers. Gains in technology, health care and household goods companies outweighed losses by banks, energy stocks and other sectors. Small-company stocks fell more than the broader market.

An economic report showing a big drop in consumer confidence last month due to the spreading delta variant of the coronavirus didn’t keep the market from managing more records.

“The reality is the market is holding up pretty well,” said Rob Haworth, senior portfolio manager at U.S. Bank Wealth Management. He noted that the consumer sentiment report is “something the market is looking through as temporary.”

The S&P 500 rose 7.17 points to 4,468. The Dow added 15.53 points to 35,515.38, and the Nasdaq picked up 6.64 points to 14,822.90.

The University of Michigan consumer sentiment index fell to 70.2 from its previous level of 81.2 in July. That was the largest drop in sentiment since April 2020, when the pandemic took its initial grip on the country.

The unexpectedly bad drop in the survey’s reading was almost entirely due to the spread of the delta variant of the coronavirus, which has caused hospitals to fill up with unvaccinated patients across the U.S.

While the broader market indexes notched slight gains, concerns about the resurgent virus prompted some investors to shift money away from companies that could take a hit from people pulling back on spending for travel and other in-person services, said Jay Hatfield, CEO of Infrastructure Capital Advisors.

American Airlines fell 2.9%, while Las Vegas Sands slid 2%. And the Russell 2000 index of small companies fell 20.96 points, or 0.9%, to 2,223.11, another sign traders were worried about future economic growth.

Technology companies made some of the broadest gains. Chipmaker Advanced Micro Devices rose 3.8%, while eBay climbed 7.4% for the biggest gain in the S&P 500.

Healthcare companies also gained ground. Pfizer rose 2.6% and Regeneron Pharmaceuticals gained 2.8%. Moderna slipped 0.4% after U.S. regulators authorized a booster shot of their COVID-19 vaccines for people with weakened immune systems.

Disney rose 1.% after the company returned to a profit last quarter, helped by the reopening of its theme parks and more subscribers to its Disney+ service.

Bond yields fell, which weighed on banks. The yield on the 10-year Treasury dropped to 1.29% from 1.34% late Thursday. JPMorgan Chase lost 1.1%.


----------



## Garpal Gumnut

bigdog said:


> https://apnews.com/article/business-asia-financial-markets-fb02864f2586544ea41f94c22a7a9da0
> 
> *US stocks eke out gains, leaving S&P 500 higher for the week*
> 
> By DAMIAN J. TROISE and ALEX VEIGA
> 
> Another wobbly day of trading on Wall Street gave way Friday to small gains and new highs for the S&P 500 and Dow Jones Industrial Average.
> 
> The two indexes wavered for much of the day before eking out their fourth straight gains. The benchmark S&P 500 rose 0.2% and notched its second-straight weekly increase. The Dow and the Nasdaq edged up less than 0.1%.
> 
> Stocks in the S&P 500 were nearly evenly split between winners and losers. Gains in technology, health care and household goods companies outweighed losses by banks, energy stocks and other sectors. Small-company stocks fell more than the broader market.
> 
> An economic report showing a big drop in consumer confidence last month due to the spreading delta variant of the coronavirus didn’t keep the market from managing more records.
> 
> “The reality is the market is holding up pretty well,” said Rob Haworth, senior portfolio manager at U.S. Bank Wealth Management. He noted that the consumer sentiment report is “something the market is looking through as temporary.”
> 
> The S&P 500 rose 7.17 points to 4,468. The Dow added 15.53 points to 35,515.38, and the Nasdaq picked up 6.64 points to 14,822.90.
> 
> The University of Michigan consumer sentiment index fell to 70.2 from its previous level of 81.2 in July. That was the largest drop in sentiment since April 2020, when the pandemic took its initial grip on the country.
> 
> The unexpectedly bad drop in the survey’s reading was almost entirely due to the spread of the delta variant of the coronavirus, which has caused hospitals to fill up with unvaccinated patients across the U.S.
> 
> While the broader market indexes notched slight gains, concerns about the resurgent virus prompted some investors to shift money away from companies that could take a hit from people pulling back on spending for travel and other in-person services, said Jay Hatfield, CEO of Infrastructure Capital Advisors.
> 
> American Airlines fell 2.9%, while Las Vegas Sands slid 2%. And the Russell 2000 index of small companies fell 20.96 points, or 0.9%, to 2,223.11, another sign traders were worried about future economic growth.
> 
> Technology companies made some of the broadest gains. Chipmaker Advanced Micro Devices rose 3.8%, while eBay climbed 7.4% for the biggest gain in the S&P 500.
> 
> Healthcare companies also gained ground. Pfizer rose 2.6% and Regeneron Pharmaceuticals gained 2.8%. Moderna slipped 0.4% after U.S. regulators authorized a booster shot of their COVID-19 vaccines for people with weakened immune systems.
> 
> Disney rose 1.% after the company returned to a profit last quarter, helped by the reopening of its theme parks and more subscribers to its Disney+ service.
> 
> Bond yields fell, which weighed on banks. The yield on the 10-year Treasury dropped to 1.29% from 1.34% late Thursday. JPMorgan Chase lost 1.1%.
> 
> View attachment 129014
> 
> View attachment 129015



Small gains and new highs can be a worry for bulls.

gg


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## bigdog

ASX 200 expected to fall​
The Australian share market looks set to give back some its gains on Monday. According to the latest SPI futures, the ASX 200 is expected to open the day 9 points or 0.1% lower. 

This follows a subdued but positive end to the week on Wall Street, which saw the Dow Jones rise slightly, the S&P 500 climb 0.15%, and the Nasdaq edge lightly higher.


----------



## bigdog

https://apnews.com/article/business...an-pandemics-f46eed5238adfe8edf2aa4ff961c28d6

*S&P hits new record amid rising concerns about pandemic*

By DAMIAN J. TROISE and ALEX VEIGA

A choppy day on Wall Street ended Monday with the S&P 500 and Dow Jones Industrial Average notching new highs after recovering from an early slide.

The indexes each rose 0.3%, extending their winning streak to a fifth day, while the Nasdaq fell 0.2%. Technology and health care stocks accounted for much of the gain in the S&P 500. Sectors traditionally considered lower risk, including utilities and companies that make food and personal goods also helped lift the market. Those gains outweighed a pullback in banks, energy stocks and a swath of retailers and travel sector companies.

Despite the latest gains, there are signs that investors have turned cautious with the market at all-time highs amid rising coronavirus infections in the U.S. and around the globe due to the highly contagious delta variant.

Traders shifted money into U.S. bonds, which helped drag bond yields lower. Small company stocks fell, knocking the Russell 2000 index 0.9% lower. Nearly twice as many stocks in the New York Stock Exchange fell than rose.

“Delta is ending up being a cascading concern,” said Sam Stovall, chief investment strategist at CFRA. “It seems the market really doesn’t want to make a commitment for the intermediate or long term.”

The S&P 500 rose 11.71 points to 4,479.71. The Dow added 110.02 points to 35,625.40. The Nasdaq fell 29.14 points to 14,793.76. The Russell 2000 lost 19.69 points to 2,203.41.

Stocks have been pushing to ever higher records the past couple of weeks even amid choppy trading as investors try to gauge the impact of rising virus cases. Analysts had expected economic growth to slow from its breakneck pace earlier this year, but the highly contagious delta variant has prompted even more caution from investors.

The concerns are being heightened as students head back to school or prepare to head back to school at the end of August. School shutdowns because of the virus could crimp a recovery in the job market if parents have to stay home. A resurgence could also stifle the recovery for many businesses that rely on people leaving their homes to eat, shop and get other services.

Data out of China showed the global coronavirus pandemic continues to hurt economies around the world. Chinese industrial production and retail sales both rose last month, but at a far weaker pace than what economists had expected.

China’s economy is suffering from supply chain issues, where manufactured goods that would typically be on their way to foreign markets have either remained unfinished or stuck in shipping containers. The pandemic has made hiring workers harder as well.

The collapse of the Afghanistan government over the weekend was also on investors’ minds. While the economy of Afghanistan is small, the country is located in a delicate part of the world, sandwiched between the economic giants of South and East Asia and the oil-rich Middle East.

The price of U.S. crude oil fell 1.7% and weighed down energy companies. Exxon Mobil dropped 1.5% and Chevron closed 1% lower.

Shares in some retailers and tourism-related companies also fell. Caesars Entertainment slid 4% and Gap dropped 3.1%.

Bond yields fell and pulled banks lower. They rely on higher yields to charge more lucrative interest on loans. The yield on the 10-year Treasury fell to 1.26% from 1.29% late Friday. Wells Fargo lost 1.9% and Citigroup dropped 1.4%.

Also dampening investors’ optimism was the University of Michigan consumer sentiment index from Friday, which fell to 70.2 from its previous level of 81.2 in July. That was the largest drop in sentiment since April 2020, when the pandemic took its initial grip on the country.

The unexpectedly bad reading was almost entirely due to the spread of the delta variant of the coronavirus, which has caused hospitals to fill up with unvaccinated patients across the U.S.

ASX 200 expected to rise​It looks set to be a better day of trade for the Australian share market on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 9 points or 0.1% higher this morning. 

This follows a reasonably positive start to the week on Wall Street, which saw the Dow Jones rise 0.31%, the S&P 500 climb 0.26%, but the Nasdaq drop 0.2% higher.


----------



## bigdog

https://apnews.com/article/business-health-china-asia-afghanistan-6432ce6162c84eba6d583c5626455efe

*Wall Street slips as retail sales post steep drop in July*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed lower on Wall Street Tuesday, ending a five-day winning streak by the S&P 500, as investors turned cautious amid more signs that the coronavirus pandemic is still holding back the U.S. economy.

The benchmark index fell 0.7%, its biggest decline in four weeks. Technology stocks and a mix of companies that rely on consumer spending were the biggest weights on the market as traders become more concerned about the pace and breadth of economic growth amid a resurgent COVID-19. Those sectors tend to perform weakly in uncertain economic conditions.

The health care sector was alone in notching broad gains within the S&P 500. A mix of companies that sell food and personal goods, along with utilities and real estate companies held up better than most of the market as investors shifted money to less risky investments. Treasury yields edged higher.

The selling kicked off after a government report showed U.S. retail sales fell sharply last month. The report followed an unexpectedly bad consumer sentiment survey on Friday that was almost entirely due to the spread of the delta variant of the coronavirus, which has caused hospitals to fill up with unvaccinated patients across the U.S.

Those downbeat reports and the rise of the delta variant gave investors an opening to take some profits after a five-day run of all-time highs by the S&P 500 and the Dow Jones Industrial Average, said Ross Mayfield, investment strategist at Baird.

“We were at all-time highs, haven’t had a 5% pullback in close to a year,” Mayfield said. “And then the general delta resurgence has folks pretty much a little down on the recovery, so there was bound to be some weakness at some point.”

The S&P 500 fell 31.63 points to 4,448.08. The Dow lost 282.12 points, or 0.8%, to 35,343.28. The blue-chip index was briefly down 505 points. The tech-heavy Nasdaq composite dropped 137.58 points, or 0.9%, to 14,656.18.

Nearly three times as many stocks fell on the NYSE than rose. Small company stocks bore some of the heaviest selling. The Russell 2000 index slid 26.24 points, or 1.2%, to 2,177.17.

Bonds were little changed. The yield on the 10-year Treasury note held steady at 1.26%.

Americans cut back on their spending last month as a surge in COVID-19 cases kept people away from stores. Retail sales fell a seasonal adjusted 1.1% in July from the month before, the U.S. Commerce Department said Tuesday. It was a much larger drop than the 0.3% decline Wall Street analysts had expected.

According to Tuesday’s report, spending fell at stores selling clothing, furniture and sporting goods. At restaurants and bars, spending rose nearly 2%, but the rate of growth has slowed from recent months as the delta variant spread and people worried about dining with others.

The weak sales report dragged down companies that rely on discretionary spending from consumers. Ralph Lauren fell 2.7% and Whirlpool dropped 3.9%.

Travel-related companies, including airlines, cruise line and hotel operators, fell broadly. American Airlines lost 2.1%, Royal Caribbean Group slid 3.1% and Marriott International closed 2.1% lower.

“It doesn’t surprise me that we’re seeing a bit of an across the board sell-off, we’re a bit overdue,” said Mike Stritch, chief investment officer of BMO Wealth Management.

Major indexes had been trading at record highs on a mix of confidence from investors and friendly monetary policy from the Federal Reserve. Analysts still expect economic growth to continue through the year, but sentiment on Wall Street is becoming a bit more cautious on the pace.

Markets also digested news that Chinese factory output, consumer spending and investment grew more slowly in July than expected. The government blamed flooding in central China and controls on travel and business to fight outbreaks of the coronavirus’s delta variant.

Shares of Home Depot fell 4.3% after the company told investors that sales were slowing compared to last year, when millions of locked-down Americans undertook home improvement projects.

Homebuilders fell broadly following a disappointing report from the National Association of Home Builders. The organization said that builder confidence hit a 13-month low in July as companies worry about supply shortages and high costs. KB Home fell 4%.

ASX 200 futures pointing lower​The Australian share market is expected to continue its poor run on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 38 points or 0.5% lower today. 

This follows a poor night of trade on Wall Street, which saw the Dow Jones fall 0.79%, the S&P 500 drop 0.71%, and the Nasdaq sink 0.93%.


----------



## bigdog

https://apnews.com/article/business...rus-pandemic-ecb3e0ecbfd4588430bcdac5b90b1fc9

*US stocks take a late turn lower, marking 2nd straight loss*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks fell broadly on Wall Street Wednesday, sending the S&P 500 to its second straight loss after a five-day winning streak.

The benchmark index fell 1.1%, its biggest decline since mid-July. The selling accelerated in the final hour of trading, with technology, health care, financial and industrial companies weighing down the index the most.

Only the index’s consumer discretionary sector, which includes a mix of companies that rely on consumer spending, rose as investors bid up shares in Lowe’s and other big retailers that reported better-than-expected quarterly results. Even so, the S&P remains within 80 points of its all-time high set on Monday.

The market didn’t react much initially to the afternoon release of the minutes from the Federal Reserve’s latest policy meeting, which confirmed that central bank policymakers have made no firm decision about when to start unwinding their support measures for the economy, which has been steadily recovering from the pandemic recession.

The surge this summer of virus cases because of the highly contagious delta variant now hangs over the broader market and is blurring the view on the economy’s continued recovery. The path of the virus and its impact on consumer spending and job growth could be a factor in the Fed’s decision making.

“We’re having a pretty cautious week for the most part,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. “A lot of the people who were optimistic that reopening would happen quickly are obviously disappointed, but we’re looking at what’s happening with the delta variant as more of a setback, not a change in direction.”

The S&P 500 index fell 47.81 points to 4,400.27. The Dow Jones Industrial Average slid 382.59 points, or 1.1%, to 34,960.69. The Nasdaq composite lost 130.27 points, or 0.9%, to 14,525.91.

Small company stocks also fell, sending the Russell 2000 index down by 18.39 points, or 0.8%, to 2,158.78.

The yield on the 10-year Treasury note rose to 1.27% from 1.25% late Tuesday.

The minutes from the Federal Reserve’s policy meeting last month, released at 2 p.m. Eastern, showed that Fed officials discussed the idea of beginning to taper the Fed’s extraordinary support for the U.S. economy later this year, though they stopped short of a firm decision on a timetable.

They also concluded that the economic recovery from the pandemic recession was moving closer to achieving the central bank’s goals on inflation and employment. As a result, the Fed is edging toward an announcement that it will begin paring the pace of its Treasury and mortgage bond buying, which now amounts to $120 billion a month. These purchases have been intended to lower longer-term interest rates and encourage borrowing and spending.

Investors are monitoring the Fed’s deliberations because the officials are likely to conclude their bond-buying program before starting to raise their benchmark short-term interest rate. That rate has been pinned near zero since the viral pandemic erupted in March 2020 and essentially shut down the economy.

Wall Street’s biggest worry is that the Fed will end its easy money policies earlier than expected to combat inflation, which would put some drag on the U.S. economy in its recovery. Investors will be looking for more clues as to the Fed’s moves next week, at the central bank’s annual conference in Jackson Hole, Wyoming.

Beyond watching the Fed, investors sized up quarterly report cards from retailers, which are among the last industries to issue results this earnings season.

Lowe’s Cos. jumped 9.6% for the biggest gain in the S&P 500 after the home improvement chain gave investors a strong sales forecast. TJX Cos. rose 5.6% after the parent of T.J. Maxx, Marshalls and other stores beat analysts’ second-quarter profit and revenue forecasts.

The surprisingly aggressive spread of the delta variant has prompted U.S. health officials to recommend COVID-19 booster shots to all vaccinated Americans, though the overall plan awaits a Food and Drug Administration evaluation of the safety and effectiveness of a third dose. Makers of COVID-19 vaccines were down following the news. Pfizer slipped 2.2% and Moderna fell 0.8%.

ASX 200 expected to fall​The Australian share market looks set to fall on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 51 points or 0.7% lower this morning. 

This follows a disappointing night of trade on Wall Street which saw the Dow Jones drop 1.08%, the S&P 500 fall 1.07%, and the Nasdaq tumble 0.89% lower. US markets tumbled after the latest US Federal Reserve meeting minutes gave an insight into its tapering plans.


----------



## bigdog

https://apnews.com/article/business...rus-pandemic-88216bbecd82852cdc8e31dc75785616

*Another choppy day on Wall Street ends with indexes mixed*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street closed out another choppy day of trading Thursday, leaving the major stock indexes on pace for a weekly loss.

The S&P 500 managed a 0.1% gain after having been down 0.7% in the early going. The Nasdaq composite also recovered to eke out 0.1% gain, while the Dow Jones Industrial Average slipped 0.2%.

Small-companies fell broadly. A late-afternoon rally in technology stocks helped offset some of the losses in energy companies, banks and other sectors. Prices for oil and other commodities also fell, pulling mining and energy stocks lower. The yield on the 10-year Treasury note fell to 1.25%.

Investors continued to size up quarterly report cards from retailers. Macy’s posted its second-biggest single-day gain as traders cheered the department store chain’s latest results.

Much of the market’s choppiness, especially in the S&P 500, is due to investors trying to position themselves as they gauge the pace of the recovery and how it will benefit different sectors of the economy.

“One of the challenges right now is we’re getting some degree of a mixed message about what is working and what’s not,” said Eric Freedman, chief investment officer at U.S. Bank Wealth Management.

The market first has to gauge the near-term prospects for the economy as COVID-19 remains a threat, Freedman said. At the same time, investors have to also focus on what the economy looks like after the virus recedes or when the world learns to live with the virus in a different way.

“There’s going to be a lot of fits and starts,” he said.

The S&P 500 added 5.53 points to 4,405.80. The Dow fell 66.57 points to 34,894.12. The tech-heavy Nasdaq gained 15.87 points to 14,541.79. The Russell 2000 index of smaller companies fell 26.36 points, or1.2%, to 2,132.42.

The broader market has been losing ground overall since the benchmark S&P 500 reached another record high on Monday. It’s now within 1.7% of that record and on pace for its first weekly loss in three weeks. The Dow, Nasdaq and Russell 2000 are also down for the week.

Technology companies made broad gains, including 4% for chipmaker Nvidia after it reported strong financial results, but those gains were outweighed by a slide in financial and industrial stocks. Companies that rely on consumer spending also weighed heavily on the market. Energy stocks took the heaviest losses in the S&P 500 as energy prices fell.

Commodities fell broadly, with everything from oil to agricultural commodities to metals moving lower. Copper prices fell 1.9%, while the price of U.S. crude oil closed 2.7% lower. The drop in commodities prices dragged down oil companies and those who extract raw materials for industrial uses. Miner Freeport-McMoRan, Devon Energy and Occidental Petroleum fell 3% or more.

The volatility in the commodities markets is notable because investors have been acutely focused on inflation as the global economy emerges from the pandemic. Earlier this year prices for basic materials like lumber and copper and gasoline were all rising steadily and several high multi-year highs. Most of those gains have now been erased with declines in recent weeks.

Investors got a bit of positive economic news when the Labor Department reported another weekly drop in the number of Americans filing for unemployment benefits. Claims fell 29,000 to 348,000 last week, a pandemic low. The four-week average fell 19,000 to just below 378,000, also a pandemic low.

While stocks in the benchmark S&P 500 are now down roughly 1.4% this week, fund managers do not expect much volatility this month as investors will have little data to work with and earnings season is now mostly over. August also tends to be a popular month for investors to take their vacations, so trading is typically slower. September tends to be a much more volatile month once Wall Street is back to work.

Government bond yields fell. The 10-year Treasury note traded at a yield of 1.25%, down from 1.27% the day before.

Robinhood sank 10.3% as traders worried that the booming growth at the popular online brokerage app could slow down. Macy’s soared 19.6% after issuing a strong forecast and reporting earnings that were far bigger than analysts were expecting. That nearly matched the biggest percentage gain the stock had in its history, which came on May 27, 2020.

ASX 200 expected to rebound​The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 39 points or 0.5% higher. 

This follows a mixed night on Wall Street, which saw the Dow Jones fall 0.19%, the S&P 500 climb 0.11%, and the Nasdaq rise 0.13%


----------



## bigdog

https://apnews.com/article/business...cial-markets-811fe92f98a4debf4a1d1deb5f88e214

*Stocks end higher on Wall Street, still post weekly losses*

By ALEX VEIGA

Technology companies led stocks broadly higher on Wall Street Friday, though the gains were not enough to erase the market’s losses from earlier in the week.

The S&P 500 index rose 0.8%, but still posted a weekly loss of 0.6% after two weeks of gains. Even so, the benchmark index is less than 1% from the all-time high it set Monday.

More than 80% of S&P 500 companies notched gains, including tech sector stocks. Microsoft rose 2.6% and chipmaker Nvidia gained 5.1% for the biggest gain in the index. A mix of companies that rely on consumer spending and communications stocks also made up a big share of the rally. Energy stocks also rose, despite another decline in the price of U.S. crude oil. Treasury yields mostly rose.

Investors turned cautious this week following some disappointing economic reports on retail sales, housing and consumer sentiment. Escalating coronavirus infections across the U.S. and around the globe due to the highly contagious delta variant have also given traders reason to pause with the market near all-time highs.

“Today was the first day that the market didn’t have to deal with disappointing economic data,” said Willie Delwiche, investment strategist at All Star Charts. “We also need to remember it’s a Friday in August, not typically an environment where we look for big signals out of the market.”

The S&P 500 rose 35.87 points to 4,441.67. The Dow Jones Industrial Average added 225.96 points, or 0.7%, to 35,120.08. The Nasdaq composite picked up 172.87 points, or 1.2%, to 14,714.66. The Dow and Nasdaq also posted weekly losses.

Small company stocks recovered some of their losses from earlier in the week. The Russell 2000 index added 35.18 points, or 1.7%, to 2,167.60. The index still finished with a 2.5% weekly drop.

Bond trading was quiet. The yield on the 10-year Treasury note rose to 1.26% from 1.24% late Thursday.

With earnings season winding down, investors got to see quarterly report cards from mostly retailers this week. On Friday, Ross Stores fell 2.7%, the biggest decline among S&P 500 companies, after issuing a full-year forecast that fell short of Wall Street’s expectations. Foot Locker jumped 7.3% after blowing past analysts’ forecasts for its latest quarter.

Fund managers aren’t expecting much volatility this month as investors will have little data to work with. August also tends to be a popular time for investors to take vacations, so trading volume typically declines. September tends to be a much more volatile month once Wall Street is back to work.

Still, next week could provide Wall Street with more insight on what the Federal Reserve may do about inflation. Earlier this week, minutes from the most recent Fed meeting showed that officials had discussed reducing the central bank’s bond-buying program later this year to start winding down some of the emergency measures that were implemented during the pandemic. But they stopped short of setting a firm timeline.

The Fed’s annual conference in Jackson Hole, Wyoming next week could offer hints on when such tapering may begin.

“From a historical perspective, the Fed doesn’t make news in its minutes, but it does tend to set out policy shifts at its symposium,” Delwiche said.


----------



## bigdog

ASX 200 expected to rebound​The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 39 points or 0.5% higher. 

This follows a mixed night on Wall Street, which saw the Dow Jones fall 0.2%, the S&P 500 climb 0.1%, and the Nasdaq rise 0.1%


----------



## bigdog

https://apnews.com/article/business...cial-markets-7872e2f5a10a4b97c1810cd2df2d5aaa

*Stocks rise broadly; Pfizer gains after FDA approves vaccine*

By ALEX VEIGA

Stocks closed higher on Wall Street Monday, pushing the Nasdaq composite to an all-time high and helping the S&P 500 more than make up for its losses last week.

The S&P 500 rose 0.9%, after spending much of the day within striking distance of its own record high. The benchmark index ended less than 0.2% below its all-time high set a week ago.

Technology, communication and financial stocks helped lift the S&P 500. Companies that rely on consumer spending also rose. Energy stocks rallied as the price of U.S. crude oil jumped 5.3%, recovering some of the ground it lost last week. Only utilities, household goods makers and real estate companies fell. Treasury yields were mixed.

Pfizer rose 2.5% after the Food & Drug Administration gave full approval to its COVID-19 vaccine. The vaccine had been under an emergency use authorization since December, but the full approval could convince some reluctant Americans to now get their shot and will likely give local authorities the legal backing to impose mandates.

BioNTech, a German drug manufacturer which developed the vaccine with Pfizer, jumped 9.6% on the news. Moderna, which developed a similar vaccine that uses the same technology, vaulted 7.5%.

The prospects of more vaccinations and signs of some easing in the growth rate of coronavirus cases, helped put investors in a buying mood, said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

Hopefully, the FDA approval “increases the uptake of the vaccine,” said Samana. The market’s gains “shouldn’t be viewed as anything other than a vaccine rally.”

The S&P 500 rose 37.86 points to 4,479.53. The Dow Jones Industrial Average added 215.63 points, or 0.6%, to 35,335.71. The Nasdaq gained 227.99 points, or 1.5%, to 14,942.65, eclipsing its last all-time high set early this month.

Small-company stocks outgained the broader market. The Russell 2000 index picked up 40.70 points, or 1.9%, to 14,942.65.

Bond yields mostly fell. The 10-year Treasury yield slipped to 1.25% from 1.26% late Friday.

The market remains in a summer slowdown, with late August being historically one of the slowest times for trading with the exception of the Christmas holiday season. Markets are expected to pick up in volume and volatility after the Labor Day weekend.

Investors will be looking to the Federal Reserve as the Kansas City Fed’s annual conference in Jackson Hole, Wyoming starts later this week. It will likely provide Wall Street with more insight into what the Fed may do about inflation.

Last week, minutes from the most recent Fed meeting showed that policymakers had discussed reducing the central bank’s bond-buying program later this year to start winding down some of the emergency measures implemented during the pandemic. They stopped short of setting a firm timeline.

In economic news, sales of previously occupied homes rose from June to July at a faster-than-expected pace of 5.99 million, more than the 5.82 million economists were expecting. Still, sales increased by only 1.5% from July last year, a more modest annual gain than it recent quarters. Homebuilders fell broadly following the report. Los Angeles-based KB Home fell 1.1%.

*ASX 200 expected to edge higher*
The Australian share market is expected to rise slightly on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 4 points higher this morning. 

This follows a very positive start to the week on Wall Street, which saw the Dow Jones rise 0.61%, the S&P 500 climb 0.85%, but the Nasdaq storm 1.55% higher.


----------



## bigdog

https://apnews.com/article/business...irus-vaccine-de9c1effe7ed5665d9081d7a81b42a03

*Modest gains nudge Nasdaq above 15,000 for the first time*

By ALEX VEIGA

Wall Street delivered more milestones Tuesday after a modest pickup in stocks nudged the S&P 500 to an all-time high and the Nasdaq composite climbed above 15,000 for the first time.

The benchmark S&P 500 index rose 0.2% after a relatively quiet day in the market. Banks and a mix of retailers, travel companies and restaurant chains accounted for much of the upward move. Those gains offset a slide in health care companies, household goods makers and technology stocks.

Investors bid up shares in homebuilders after the government reported that sales of new U.S. homes rose modestly last month. Small-company stocks outpaced the rest of the market. Treasury yields mostly edged higher. The price of crude oil had its second solid gain in a row, clawing back more of the ground it lost over the previous two weeks.

While investors have been monitoring the developments overseas in Afghanistan and with the coronavirus and its highly contagious delta variant, the absence of any new, bad news today may have helped keep the market moving higher, said Randy Frederick, vice president of trading & derivatives at Charles Schwab.

“In a bull market, in an absence of negative catalysts, you tend to get some upside movement,” Frederick said. “It’s slow and gradual, but it continues to trudge forward.”

The S&P 500 rose 6.70 points to 4,486.23. It was the index’s fourth-straight gain and its first record high since early last week. The Dow Jones Industrial Average gained 30.55 points, or 0.1%, to 35,366.26. The Nasdaq composite climbed 77.15 points, or 0.5%, to 15,019.80. The tech-heavy index also finished at a record high on Monday.

Small-company stocks outgained the rest of the market. The Russell 2000 index rose 22.61 points, or 1%, to 2,230.91.

Bond yields rose. The yield on the 10-year Treasury note rose to 1.29% from 1.25% the day before.

The market’s latest gains bolster its comeback after last week, when the S&P 500 posted its first weekly loss after two weeks of gains. Stocks rose on Monday as investors welcomed the Food & Drug Administration’s full approval of Pfizer’s COVID-19 vaccine amid expectations that it may make vaccination adoption more widespread.

The Pfizer vaccine approval has given cities and companies the legal backing to start requiring mandates. On Monday, New York City and the Department of Defense announced vaccine requirements. Shares in Pfizer fell 3.1% Tuesday. Moderna, another coronavirus vaccine maker, dropped 4.1%.

ASX 200 futures pointing higher​The Australian share market is expected to continue its positive run on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 18 points or 0.25% higher this morning. 

This follows a decent night of trade on Wall Street, which saw the Dow Jones rise 0.09%, the S&P 500 climb 0.15%, and the Nasdaq push 0.52% higher.


----------



## bigdog

https://apnews.com/article/business-asia-financial-markets-ff26d2aadaf99d0f86373327e2172720

*Modest gains produce more record highs for S&P 500, Nasdaq*

By ALEX VEIGA

Stocks on Wall Street closed with modest gains Wednesday, driving the S&P 500 and Nasdaq to all-time highs for the second day in a row.

Financial and energy companies led the way higher among stocks in the S&P 500. The benchmark index rose 0.2%, marking its fifth straight gain. A rise in bond yields, which allows lenders to charge higher interest rates on loans, helped push bank stocks higher. Health care and technology companies were among the laggards.

The market’s latest gains came as earnings season continues to wind down and investors wait to hear from the Federal Reserve the next couple of days, when central bank officials hold their annual symposium. Wall Street is keen to gain new insight on the Fed’s view of the economy and what action, if any, it is considering taking to tackle rising inflation.

“Earnings are rising, inflation is moderate and interest rates are low, and that typically presents a favorable backdrop,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.

The S&P 500 added 9.96 points to 4,496.19. The index is on pace for a 1.2% weekly gain after closing out last week with its first weekly loss in three weeks.

The Dow Jones Industrial Average rose 39.24 points, or 0.1%, to 35,405.50. The Nasdaq gained 22.06 points, or 0.2%, to 15,041.86. The major indexes bounced back from modest declines in the early going.

Small company stocks continued to do better than the broader market. The Russell 2000 index picked up 8.36 points, or 0.4%, to 2,239.27.

Bond yields moved broadly higher. The yield on the 10-year Treasury note rose to 1.35% from 1.28% the day before.

Trading has been mostly quiet this week ahead of the Federal Reserve’s annual convention in Jackson Hole, Wyoming, which begins Thursday.

Investors are betting that Fed officials will remain in “wait and see” mode regarding inflation, since most policymakers believe any inflation earlier this year would be temporary and the rise in COVID-19 cases has made some economists worried. Meanwhile there are other Fed officials that say the U.S. central bank needs to start winding down bond purchases to combat inflation.

Fed Chair Jerome Powell is scheduled to speak at the convention on Friday. While the event is a logical opportunity for Powell to reveal new monetary policy, it doesn’t mean it’s likely to happen, analysts say.

Economic reports have been disappointing recently, and uncertainty about the highly contagious coronavirus delta variant and how it may affect the economy this fall could give Powell pause, said Willie Delwiche, investment strategist at All Star Charts.

“I don’t know that he wants to get ahead of that,” Delwiche said. “He might take a wait-and-see approach in terms of introducing the next phase of what the Fed is going to do.”

Sandven doesn’t expect any big news to come out of the gathering of Fed officials.

“We may get some indication out of Jackson Hole as to when the Fed may like to change its course, but I think it’s fairly well telegraphed and our belief is that we’re not likely to get anything substantial,” he said. “And if we do, that’s probably going to be a little bit of a disruptor to the broad market.”

The KBW Bank Index, which tracks the 24 largest banks in the country, rose 1.8% as financial stocks rallied Wednesday. JPMorgan rose 2.1%.

Industrial stocks and a variety of retailers, homebuilders and other companies that rely on consumer spending also helped lift the market. Deere & Co. rose 2.3%, D.R. Horton added 1.3%, Domino’s Pizza gained 2.1% and Caesar’s Entertainment picked up 4.1%.

Health care stocks were the biggest decliner in the S&P 500. Pfizer was among the biggest drags on the sector, shedding 1.8%.

Dick’s Sporting Goods jumped 13.3% after reporting a surge in quarterly sales and a special dividend.

ASX 200 expected to fall​The Australian share market looks set to fall on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 13 points or 0.2% lower today. 

This is despite it being a positive night of trade on Wall Street. Overnight, the Dow Jones rose 0.11%, the S&P 500 climbed 0.22%, and the Nasdaq rose 0.15%.


----------



## bigdog

https://apnews.com/article/technolo...cial-markets-1b9480307f74044bbd6191edf15c3f63

*Stocks fall after Kabul bombing; traders also wait for Fed*

By ALEX VEIGA

Technology and communication companies led a broad sell-off on Wall Street Thursday following deadly suicide attacks at the Kabul airport in Afghanistan.

The S&P 500 fell 0.6% a day after capping a five-day winning streak with an all-time high. The Dow Jones Industrial Average fell 0.5%, while the Nasdaq composite lost 0.6%. Despite the losses, the three major indexes are on track for weekly gains.

Twin suicide bombings struck Thursday outside Kabul’s airport, where large crowds of people trying to flee Afghanistan have massed. At least 60 Afghans and 12 U.S. troops were killed, according to Afghan and U.S. officials. Scores of other people were wounded. The airport had been the focus of NATO evacuations from the country after the Taliban took over last week.

The declines were widespread, with 10 of the 11 sectors in the S&P 500 closing lower. Technology stocks, communication services providers and a mix of companies that rely on consumer spending accounted for much of the pullback. Banks and energy stocks also weighed on the index. Only real estate stocks closed higher.

Stocks had been moving lower in early trading before the bombings, following pullbacks in markets in Asia and Europe, as investors looked ahead to the Federal Reserve’s two-day conference in Jackson Hole, Wyoming, which began Thursday. The selling accelerated swiftly once news of the attacks broke.

“The unfortunate news that we had around the airport bombing perhaps gave people a reason to sell more aggressively,” said J.J. Kinahan, chief strategist with TD Ameritrade.

The S&P 500 fell 26.19 points to 4,470, while the Dow dropped 192.38 points to 35,213.12. The Nasdaq lost 96.05 points to 14,945.81. The tech-heavy index closed above 15,000 points for the first time a day earlier.

Small company stocks shouldered some of the heaviest selling. The Russell 2000 index slid 25.29 points, or 1.1%, to 2,213.98.

Despite the sell-off in stocks, market indicators that traditionally signal worry on Wall Street were little changed. Treasury yields were mixed, and the yield on the closely watched 10-year Treasury held steady at 1.35%. Meanwhile, the price of gold rose only 0.2%.

The VIX, a measure of nervousness among stock investors, rose 12%, but remained slightly below 20, which signals market risk is low.

“That would imply those markets are not expecting a big fallout,” said Sam Stovall, chief investment strategist at CFRA.

Stovall noted that similar shocking geopolitical events in the past have typically not had a lasting impact on stocks.

“In the short term, the question is, ’will it result in an economic contraction?” Stovall said. “Well, most of the time the answer is no, so it ends up being a short-term, kneejerk reaction by traders that really doesn’t have staying power, because while it’s tragic in the consequences to those involved, it has little to no effect on the global economy.”

Before the attack, most of the market’s attention was on the Fed and on what Fed Chair Jerome Powell will say when he speaks at the central bank’s annual symposium on Friday.

Traders are betting that Fed officials will remain in a “wait and see” mode regarding inflation, since most policymakers believe any inflation earlier this year would be temporary and the rise in COVID-19 cases has worried some economists.

That said, yields have steadily risen in the bond market in the past week, which could be a sign that traders are preparing for the Fed to start winding down its emergency support measures in the coming months.

Jobless claims edged up by just 4,000 to 353,000 from a pandemic low 349,000 a week earlier, the Labor Department reported Thursday. The four-week average fell by 11,500 to 366,500. That’s the lowest since mid-March 2020.

The wave of selling Thursday affected a wide swath of stocks. Microsoft fell 1% and Western Digital slid 4.5%. Dollar Tree led the decline among the S&P 500′s consumer discretionary sector, skidding 12.1%, while clothing retailer Gap dropped 4.1%. Citigroup fell 1% and Facebook gave up 1.1%.

Salesforce.com was one of the biggest gainers, rising 2.7% after the company’s quarterly results easily beat analysts’ expectations. The company also raised its full-year outlook.

ASX 200 expected to fall​The Australian share market looks set to end the week in the red. According to the latest SPI futures, the ASX 200 is expected to open the day 8 points or 0.1% lower. 

This follows a poor night on Wall Street, which saw the Dow Jones fall 0.54%, the S&P 500 drop 0.58%, and the Nasdaq tumble 0.64%


----------



## bigdog

https://apnews.com/article/stock-ma...hai-business-f75ea4e25d0491dfb8e5598693339f88

*Stocks rally to records amid relief rates will remain low*

By STAN CHOE

NEW YORK (AP) — Wall Street rallied to records on Friday after the head of the Federal Reserve said it’s still far from pulling interest rates off the record low that’s helped markets soar, even if it does begin dialing back its support for the economy later this year.

The S&P 500 rose 39.37, or 0.9%, to 4,509.37 to top its prior all-time high set on Wednesday, part of a widespread rally that swept up everything from bonds to gold. The Dow Jones Industrial Average climbed 242.68 points, or 0.7%, to 34,455.80, and the Nasdaq composite gained 183.69, or 1.2%, to 15,129.50.

Stocks have set record after record this year thanks in large part to the Federal Reserve’s massive efforts to prop up the economy and financial markets. But the gains had grown more tentative as the beginning of the end of the Fed’s assistance came into sight, now that the unemployment rate has dropped and inflation has picked up.

In a speech that investors have had circled for weeks, Fed Chair Jerome Powell said that the economy has met one big milestone the central bank had set to slow the $120 billion in bond purchases it’s making each month. That could mean a paring back by the end of the year of the purchases, which are meant to keep longer-term interest rates low and to juice the economy.

But Powell also cited past mistakes where policy makers made premature moves in the face of seemingly high inflation, stressing again that today’s high inflation looks to be only temporary. He also made clear that a slowing of the Fed’s bond purchases doesn’t mean a rise in short-term rates is imminent. That would require the job market and inflation to hurdle “substantially more stringent” tests.

“We have much ground to cover to reach maximum employment,” Powell said.

At the end of Powell’s speech, many investors took it as a sign the Fed will keep supporting the market with low interest rates, which can act like steroids for stocks. In the lingo of Wall Street, it was “dovish” in tone rather than “hawkish,” which would have advocated for a quicker rise in rates.

“He not as much spoke it as he cooed it,” said Ernesto Ramos, U.S. chief investment officer at BMO Global Asset Management. “He was super dovish.”

Stocks of companies whose profits are most closely tied to the economy made the biggest gains following the speech. Smaller companies were particularly strong, with the small-cap Russell 2000 index up 2.9%, more than triple the gain for the big stocks in the S&P 500. They often do best when investors feel more optimistic about lower rates and a stronger economy.

“Markets are loving it,” Ramos said. But he also cautioned that the longer ultralow interest-rate policy helps to prop up the markets, the withdrawal may be worse once it’s finally exhausted.

“It strengthens our view that markets will continue to do well this year,” he said. But “when the accommodation is fully removed, how bad of a hangover will it be? Just like a party, the hangover is less bad if you leave earlier.”

Treasury yields were lower, but only after some swings. After sitting at 1.35% shortly before Powell’s speech, the yield on the 10-year Treasury sank as Powell cited past instances where policy makers prematurely raised interest rates on worries about short-term bursts in inflation, saying “such a mistake could be particularly harmful” now.

Yields later recovered a bit of their drops after Powell said “substantial further progress” has been made on its inflation goals, one of the two milestones needed for the Fed to slow its bond purchases. The other, which focuses on employment, has shown progress, but Powell did not say it had been fulfilled.

The yield on the 10-year Treasury was at 1.30% late Friday, down from 1.34% late Thursday.

Of course, Powell also said that the delta variant of the coronavirus is complicating things, though he still expects improvements to continue.

The faster-spreading delta variant has already slowed some economic activity. A report on Friday showed that consumer spending in the country rose 0.3% in July from June, a sharp slowdown from the prior month’s 1.1% jump. That’s a big deal when consumer spending is the driving force of the U.S. economy, and its growth slowed even though income growth for Americans accelerated to 1.1% last month.

The report also showed that a gauge of year-over-year inflation preferred by the Fed held steady at 3.6% in July, slightly higher than economists expected.

The next date circled on investors’ calendars is in a week, when the government reports how many people businesses hired in August. A strong report could give the Fed even more leeway to begin slowing its bond purchases.

Producers of commodities made the stock market’s biggest jumps as lower yields and a weakening dollar pushed up prices for oil, gold and other raw materials.

Occidental Petroleum leaped 6.9% for the largest gain in the S&P 500, and miner Freeport-McMoRan rose 5.9%.

On the losing end was Peloton Interactive, which tumbled 8.5%. It reported a loss for its latest quarter, cut the price of its most popular product and disclosed that it’s been subpoenaed by the Justice Department and the Department of Homeland Security for documents related to its reporting of injuries associated with its exercise equipment.

Stock markets overseas were mixed.


----------



## bigdog

ASX 200 expected to rise​The Australian share market looks set to rise on Monday. According to the latest SPI futures, the ASX 200 is expected to open the day 13 points or 0.2% higher this morning. 

This follows a strong end to the week on Wall Street, which saw the Dow Jones rise 0.7%, the S&P 500 climb 0.9%, and the Nasdaq push 1.2% higher. Comments out of the US Federal Reserve boosted US stocks.


----------



## bigdog

https://apnews.com/article/business...cial-markets-f264fa3b2e07a38f4c7b3fc4def566ad

*S&P 500, Nasdaq notch more records even as the Dow slips*

By DAMIAN J. TROISE

Gains for several Big Tech stocks helped push the S&P 500 and the Nasdaq composite to more record highs on Wall Street Monday, even as weakness elsewhere in the market sent the Dow Jones Industrial Average and small-company stocks lower.

The S&P 500 also set a record high last Friday after investors welcomed an update from the Federal Reserve. In a speech, Fed Chair Jerome Powell helped ease concerns that a key factor in the market’s solid gains this year, low interest rates, will remain that way as the economy continues recovering from the pandemic.

“When you look at it, the impression is things are good and Powell essentially said he’s not the one who’s going to take the punch bowl away,” said Brad McMillan, chief investment officer for Commonwealth Financial Network.

Markets have been choppy in recent weeks as investors tried to gauge how much and how quickly the Fed will ease its support.

The S&P 500 added 19.42, or 0.4%, to close at 4,528.79 The Dow fell 55.96 points, or 0.2%, to 35,399.84 and the Nasdaq composite rose 136.39 points, or 0.9%, to 15,265.89.

The Russell 2000 index of small company stocks lost 10.70 points, or 0.5%, to 2,266.80. Both the Nasdaq and S&P 500 closed at all-time highs.

Technology stocks, which benefit from low interest rates, did much of the heavy lifting for the broader market. Apple rose 3%, while Amazon and Facebook each rose more than 2%.

Health care companies also had solid gains and helped lift the benchmark S&P 500. Banks stocks, which would benefit from higher rates, were the biggest drag on the overall market. Wells Fargo lost 2.8%.

Bond yields edged lower. The yield on the 10-year Treasury fell to 1.28% from 1.31% late Friday.

Energy prices were mixed as the the full impact of Hurricane Ida is still being assessed. The storm will likely take a toll on the energy, chemical and shipping industries that have major hubs along the Gulf Coast, but the impact on the overall U.S. economy should be modest so long as damage estimates don’t rise sharply and refinery shutdowns are not prolonged, economists suggested.

Crude oil prices rose 0.6%, while natural gas prices slumped 1.5% as Colonial Pipeline shut down deliveries in the south until it can assess damage from the storm.

Deal news helped lift several stocks. Affirm soared 46.7% after the payments company announced a deal last week with Amazon to offer shoppers a buy-now-pay-later option that doesn’t involve credit cards. Hill-Rom Holdings jumped 9.7% following reports that Baxter International is interested in buying the medical technology company.

Investors have several key economic reports to look forward to this week, including consumer confidence on Tuesday and the closely watched monthly employment survey from the Labor Department on Friday. Both could help investors better gauge the economic recovery’s path as it faces some resistance from a surge in virus cases because of the more contagious delta variant.

*ASX 200 expected to rise*
The Australian share market is expected to push higher again on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 17 points or 0.2% higher this morning. 

This follows a largely positive start to the week on Wall Street, which saw the Dow Jones fall 0.16%, but the S&P 500 climb 0.43% and the Nasdaq storm 0.9% higher.


----------



## bigdog

https://apnews.com/article/business...cial-markets-ad50336723f40869311f991494374ccc

*S&P 500 ends August higher, its 7th straight monthly gain*

By DAMIAN J. TROISE

A wobbly day on Wall Street ended Tuesday with major indexes slipping just below recent record highs, but the S&P 500 closed out August solidly in the green with its seventh straight monthly gain.

Investors are busy trying to figure out just how much of an impact rising COVID-19 cases will have on the still recovering economy. The market has been choppy amid a mix of economic data, some of which has signaled that consumers are becoming more cautious.

“The market is still really dealing and grappling with the question of what direction are we taking,” said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management.

Investors are gauging which areas of the market are poised to benefit in the coming months as supply constraints continue to hamper some industries while COVID-19 continues to threaten the economic recovery, he said. The uncertainty has contributed to shifting gains and losses for services-oriented sectors and other areas of the economy that typically do well in a growing economy.

The S&P 500 index fell 6.11 points or 0.1%, to 4,522.68, after setting a record high a day prior. The Dow Jones Industrial Average fell 39.11 points, or, 0.1%, to 35,360.73 and the Nasdaq slipped 6.65 points, or less than 0.1%, to 15,259.24.

Technology stocks were the biggest weight dragging down the benchmark S&P 500, despite more stocks rising than falling within the index. Smaller company stocks fared better than the broader market in a signal that investors were somewhat confident about continued economic growth. The Russell 2000 rose 7.78 points, or 0.3%, to 2,273.77.

Despite the choppiness, the S&P 500 powered through August for a 2.9% gain. That marks seven straight monthly gains, the longest such streak since early 2018. The Nasdaq closed the month with a 4% gain.

The market has been lifted by a number of factors this month. Corporate earnings came in much better than expected, giving investors confidence to pay premium prices for an already lofty market. Also the Federal Reserve has made it clear that it believes inflation will be temporary and any pullback of financial support from the central bank would be gradual.

Energy prices mostly declined for a second day, as fears of widespread devastation to U.S. oil and gas production in the Gulf of Mexico after Hurricane Ida appeared be overblown. Oil companies began gradually restarting refineries in Louisiana and Colonial Pipeline said it restored flows to several pipelines that run through the south. Oil prices fell 1%, while natural gas prices rose 1.7%.

The latest economic data showed once again the impact the delta variant of the coronavirus is having on the economy. Consumer confidence in August fell sharply to a reading of 113.8 compared to a reading of 125.1 in July. Economists has been expecting a reading of 124.0. Most of the decline was tied to the spread of the virus in the past month, which has inundated hospitals with patients and deaths are climbing again.

The weak report weighed down some companies, such as clothing and apparel makers, that rely on discretionary spending from consumers. Under Armour fell 4.1%. Tapestry, which owns Coach and Kate Spade, fell 2.3%

Investors’ eyes will be turning to key economic data later this week, when the Labor Department releases its August jobs report on Friday. Economists are expecting that U.S. employers created 750,000 jobs last month, according to FactSet, with the unemployment rate dropping to 5.2%.

The bond market was quiet, with the 10-year Treasury note trading at a yield of 1.30%. That’s up from 1.28% the day before.

ASX 200 expected to fall​The Australian share market is expected to end its winning streak on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 37 points or 0.5% lower this morning. 

This follows a subdued night of trade on Wall Street, which saw the Dow Jones fall 0.11%, the S&P 500 drop 0.13%, and the Nasdaq edge 0.04% lower.


----------



## bigdog

https://apnews.com/article/business...cial-markets-db47ee1871ab7f38a9c3aab9a8e7fff4

*Stocks end with tiny gains, enough to nudge Nasdaq to record*

By DAMIAN J. TROISE

Stocks inched mostly higher on Wednesday, enough to nudge the Nasdaq composite index to an all-time high. Markets continue to remain quiet ahead of Friday’s jobs report and the Labor Day holiday in the U.S. on Monday.

The S&P 500 index rose 1.41 points, less than 0.1%, to close at 4,524.09. The Dow Jones Industrial Average fell 48.20 points, or 0.1%, to 35,312.53 and the Nasdaq climbed 50.15 points, or 0.3%, to 15,309.38.

Small-company stocks did better than the rest of the market. The Russell 2000 index rose 0.6%.

Technology and communications stocks made solid gains that helped lift an otherwise choppy market. Consumer staples also rose more than other sectors.

Investors had a weak survey to work through from payroll processor ADP, which showed U.S. companies added jobs at a much slower pace in August than economists had anticipated. The weak report follows a disappointing consumer confidence survey Tuesday and comes ahead of the Labor Department’s release of its August jobs report on Friday.

“Friday’s (jobs) numbers are going to be very carefully looked at on all levels,” said Tom Martin, senior portfolio manager with Globalt Investments.

Economists expect that U.S. employers created 750,000 jobs in August, according to FactSet, pushing the unemployment rate down to 5.2%.

The report should provide more clues about the strength of the job market and might give investors a clearer sense of whether the Federal Reserve will decide at its upcoming September meeting on a timeline for paring back the $120 billion in bond purchases it’s making each month. Fed Chair Jerome Powell has signaled that the central bank will continue to keep interest rates low for the foreseeable future, even when it tapers the bond buying.

Trading is likely to pick up next week, once Wall Street is through the Labor Day holiday. September is historically a more volatile month for the stock market.

Meanwhile, The Institute for Supply Management, a trade group of purchasing managers, reported that growth in U.S. manufacturing accelerated in August despite the fact that companies were still struggling with supply chain problems. The supply chain issues, along with improvements in employment, are key factors in how investors are gauging the direction and potential impact of inflation, Martin said.

The broader market has been pushing higher all year, with the S&P 500 closing out August with its seventh straight monthly gain, marking its longest such winning streak since early 2018. Much of the momentum has been sustained by low interest rates favoring stock investments and a steady economic recovery, but investors are growing more cautious.

COVID-19′s more contagious delta variant has raised concerns that consumers could pull back on spending and a much needed recovery in the jobs market could stall.

The focus on broader economic data comes as the market quiets down following a solid corporate earnings season.

Copper prices slipped 2.2% and pushed some key copper mining companies lower.

PVH, which owns the Calvin Klein and Tommy Hilfiger brands, jumped 15.1% after raising its profit forecast for the year. Other stocks making big gains include video-compression chipmaker Ambarella, which gained 27.4% after reporting solid second-quarter financial results.

Bond yields were stable. The yield on the 10-year Treasury remained at 1.30% from late Tuesday.

Markets in Europe and Asia closed mostly higher.

ASX 200 expected to fall​The Australian share market looks set to fall again on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 15 points or 0.2% lower this morning. 

This follows a mixed night of trade on Wall Street, which saw the Dow Jones fall 0.14%, the S&P 500 trade flat, and the Nasdaq rise 0.33%.


----------



## bigdog

https://apnews.com/article/business...cial-markets-a9f0525c501cf57678f1f4d217e88792

*Stocks shake off an afternoon stumble to end modestly higher*

By DAMIAN J. TROISE

The stock market recovered from an afternoon stumble Thursday and ended with some modest gains, enough to mark more record highs for the S&P 500 and the Nasdaq composite.

Investors had a fresh batch of economic data to weigh as they gauge the economic recovery, but much of the focus will be on a key employment report from the Labor Department on Friday.

Trading remains quiet as the summer holiday season comes to a close and Wall Street heads into a three-day holiday weekend. Activity is expected to pick up next week once traders are back from vacation. Typically September is one of the market’s more volatile months.

The S&P 500 rose 12.86 points, or 0.3%, to 4,536.95, topping a record set on Monday. The Dow Jones Industrial Average rose 131.29 points, or 0.4%, to 35,443.82. The Nasdaq rose 21.80, or 0.1%, to 15,331.18, also setting a record.

Small-company stocks fared better than the rest of the market in a sign that investors are feeling encouraged about the prospects for the economy. The Russell 2000 index rose 16.96 points, or 0.7%, to 2,304.02.

Health care companies made broad gains and energy stocks gained ground on a 2% jump in oil prices. Insurer Anthem rose 3.7% and Exxon Mobil rose 2.4%. Technology and communications stocks slipped.

The number of Americans seeking unemployment benefits fell last week to 340,000, a pandemic low and another sign that the job market is steadily rebounding from the economic collapse caused by the coronavirus pandemic.

It’s a preview of what traders are waiting for on Friday, when they will get the August jobs report from the Labor Department. Economists are expecting that U.S. employers created 750,000 jobs last month, pushing the unemployment rate down to 5.2%.

That jobs report will be closely watched by investors for its potential impact on the Federal Reserve’s path forward on its support for the economy. The central bank has signaled that it could begin tapering its monthly bond purchases, but will likely keep interest rates low until it’s comfortable with a recovery in the employment market. Low interest rates have been a key factor in the broader market’s solid gains through the year.

“The market is likely to stay on track because of the Fed, but the risk is on the inflation side,” said Jay Hatfield, CEO of Infrastructure Capital Advisors.

Inflation remains a concern as supply chain issues prompt some companies to raise prices on goods. Those issues have been particularly painful for industries that rely on computer chips, where a shortage is getting worse and forcing big automakers to cut back on production, including General Motors and Ford. The problem is being worsened by the more contagious delta variant of COVID-19, which has hit employees at factories in southeast Asia hard.

The housing market, where rental and home prices have been rising, is also a key measure to monitor, Hatfield said, as it could push inflation higher into 2022 and put a dent in the broader market when the Fed eventually does ease back its support for low interest rates.

Bond yields were steady. The 10-year Treasury note fell to 1.29% from 1.30% from the day before.

Several companies made sharp gains on a mix of earning and deal news. Baxter International rose 4.8% after the medical products company said it is buying Hill-Rom for $10.5 billion in cash. Signet Jewelers rose 5.7% after reporting solid second-quarter financial results.

Virgin Galactic Holdings fell 3% after the Federal Aviation Administration grounded spaceflights after learning that the ship carrying founder Richard Branson and five Virgin Galactic employees veered off course during its descent back to earth in July.

ASX 200 expected to rise​The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 17 points or 0.2% higher. 

This follows a decent night of trade on Wall Street, which saw the Dow Jones rise 0.37%, the S&P 500 climb 0.28%, and the Nasdaq edge 0.14% higher.


----------



## bigdog

https://apnews.com/article/business...rus-pandemic-d179858a9eaa6daf0e6f047012e77d87

*Stocks end mostly lower even as tech drives Nasdaq higher*

By ALEX VEIGA

Major stock indexes on Wall Street closed mostly lower Friday, though a rally in Big Tech companies nudged the Nasdaq to another all-time high.

The S&P 500 fell less than 0.1% a day after notching a record high. The benchmark index still managed its second straight weekly gain. Losses in financial, industrial and utilities companies outweighed gains in technology stocks and other sectors of the S&P 500. Energy prices mostly fell. Gold and silver rose. Treasury yields were mixed.

Stock indexes’ uneven finish followed a government report showing that U.S. employers created far fewer jobs than expected last month. The report led investors to question whether the delta variant is starting to impact economic growth.

“Investors are saying, ‘looks like this transition from reopening to a reopened economy is going to take a little bit longer,’” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management.

The S&P 500 slipped 1.52 points to 4,535.43. The Dow Jones Industrial Average fell 74.73 points, or 0.2%, to 35,369.09. The Nasdaq composite rose 32.34 points, or 0.2%, to 15,363.52, its third straight gain. The technology-heavy index also posted a weekly gain.

The indexes’ moves were mostly muted ahead of a long holiday weekend. U.S. stock markets will be closed Monday for Labor Day.

Investors focused Friday on a key barometer of economic health: the Labor Department’s monthly snapshot of hiring by nonfarm companies. The report found that America’s employers added just 235,000 jobs in August, a surprisingly weak gain after two months of robust hiring, at a time when the coronavirus’ highly contagious delta variant’s spread has discouraged some people from flying, shopping and eating out.

The August job gains fell far short of the big gains in June and July of roughly 1 million a month. Those gains followed widespread vaccinations that allowed the easing of many pandemic restrictions.

Technology stocks did particularly well last year during the pandemic, so it was unsurprising to see traders move back into those investments again. Broadcom and NetApp each rose 1% or more.

Travel companies took some of the heaviest losses. Carnival Corp. slid 4.4% for the biggest decline in the S&P 500. Rival Royal Caribbean fell 4.2%. Las Vegas Sands, Marriott International and Wynn Resorts also fell.

Friday’s weak jobs report could actually benefit stock investors over the longer run. The Federal Reserve has indicated it might begin winding down its bond purchases of $120 billion a month that pump money into the financial system until they have more data that the U.S. recovery is on solid footing. The report may help prompt Fed policymakers to delay those plans.

Bond yields moved higher. The yield on the 10-year Treasury note rose to 1.32% from 1.30% the day before.


----------



## bigdog

ASX 200 expected to rise​The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 17 points or 0.2% higher. 

This follows a decent night of trade on Wall Street, which saw the Dow Jones rise 0.4%, the S&P 500 climb 0.3%, and the Nasdaq edge 0.15% higher.


----------



## bigdog

*NYSE CLOSED FOR LABOR DAY HOLIDAY ON MONDAY SEPT 6*


https://apnews.com/article/business...cial-markets-e9aeec0c7757247df78bf60b04d734b6

*Global stock markets rise after weak US hiring data *

By JOE McDONALD

Global stock markets and Wall Street futures rose Monday after weak U.S. hiring in August fueled expectations the Federal Reserve might postpone withdrawal of economic stimulus that has boosted stock prices.

London and Frankfurt opened higher. Shanghai, Tokyo and Hong Kong rose.

Investors appeared to welcome Friday’s Labor Department report that U.S. employers added only 235,000 jobs in August, barely one-third of the consensus forecast of 730,000.

Investors hoped that might prompt the Fed to postpone a reduction in bond purchases that pump money into the financial system. Officials have indicated the Fed board might decide about that this month but wants to be sure a recovery is established, and say employment is a key factor.

“The weaker-than-expected jobs gains drastically reduce the chance of Fed tapering” at the September board meeting, Yeap Jun Rong of IG said in a report.

In early trading, the FTSE 100 in London rose 0.5% to 7,172.03 and Frankfurt’s DAX advanced 0.6% to 15,869.96. The CAC 40 in Paris added 0.5% to 6,725.01.

On Wall Street, futures for the S&P and the Dow Jones Industrial Average were up 0.2%.

The S&P 500 index fell 0.1% on Friday, but still was near a record high.

Also Friday, the Dow fell 0.2% while the Nasdaq composite rose 0.2% to a record.

In Asia, the Shanghai Composite Index rose 1.1% to 3,621.86 and the Nikkei 225 in Tokyo gained 1.8% to 29,659.89. The Hang Seng in Hong Kong added 1% to 26,163.63.

The Kospi in South Korea advanced less than 0.1% to 3,203.33 and Sydney’s S&P-ASX 200 ended up less than 0.1% at 7,528.50.

India’s Sensex rose 0.3% to 58,312.88. New Zealand, Singapore and Jakarta gained while Bangkok retreated.

The weak U.S. hiring also prompted concern the spread of the coronavirus’s more contagious delta variant is hurting economic growth. It was well below the monthly average of more than 900,000 jobs added in June and July.

In energy markets, benchmark U.S. crude fell 47 cents to $68.82 per barrel in electronic trading on the New York Mercantile Exchange. The contract sank 70 cents on Friday to $69.29. Brent crude, the basis for international oil prices, lost 49 cents to $72.12 per barrel in London. It declined 42 cents the previous session to $72.61.

The dollar advanced to 109.89 yen from Friday’s 109.64 yen. The euro declined to $1.1869 from $1.1891.



ASX 200 expected to rise​The Australian share market is expected to push higher on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 16 points or 0.2% higher this morning. 


*NYSE CLOSED FOR LABOR DAY HOLIDAY ON MONDAY SEPT 6*





*REST OF WORLD








*


----------



## bigdog

https://apnews.com/article/business...global-trade-9e0aa2bdfc6a8b0fa95ce8220f48c302

*US stocks close mostly lower, but Nasdaq still inches higher*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks indexes on Wall Street closed mostly lower Tuesday, though solid gains by Apple, Facebook and other tech heavyweights helped nudged the Nasdaq to another all-time high.

The S&P 500 slipped 0.3%, losing some ground after two straight weekly gains. Roughly 80% of companies in the benchmark index fell. Industrial and health care stocks were among the S&P 500′s biggest decliners. Household goods makers also weighed on the index, offsetting gains in communication services firms, technology stocks and a mix of companies that rely on consumer spending.

Small company stocks also fell broadly. Treasury yields rose, while energy futures and the price of gold fell.

The pullback in stocks came as traders returned from the Labor Day holiday weekend to a relatively light week of economic data. The last big economic snapshot, the August jobs report, came in weaker than expected last Friday, but stocks only slipped modestly on the news.

“We’re still kind of digesting Friday’s weak job number and the potential impact that might have with the economy,” said Ryan Detrick, chief market strategist for LPL Financial.

The S&P 500 fell 15.40 points to 4,520.03. The index remains within 0.4% of the all-time high it set last Thursday. The Dow Jones Industrial Average dropped 269.09 points, or 0.8%, to 35,100, while the technology-heavy Nasdaq composite rose 10.81 points, or 0.1%, to 15,374.33 it’s fourth consecutive record high.

Small company stocks declined. The Russell 2000 index lost 16.44 points, or 0.7%, to 2,275.61.

A rise in bond yields helped out bank stocks. The yield on the 10-year Treasury note rose to 1.37% from 1.32% on Friday. Bank of America rose 0.7%.

Paint and coatings maker PPG Industries fell 3.4% after warning investors that supply chain problems and higher costs will hurt third-quarter sales. The announcement weighed on some of the company’s peers. Sherwin-Williams fell 1.5%.

Industrial sector stocks were among the S&P 500′s biggest decliners. Deere & Co. slid 4.5% and 3M lost 8.8%.

Traders are back from their summer holidays, and volatility is expected to pick up in the coming days and weeks. Stocks churned higher throughout the summer, helped by stronger-than-expected earnings from big companies as well as guidance from the Federal Reserve that the central bank plans to keep interest rates low.

The market had only a mild negative reaction to the August jobs report, which showed employers hired fewer workers than expected. The report came out Friday, just ahead of the Monday expiration of extended unemployment benefits, which had been in place since March 2020, when the pandemic started.

“The economy has been showing signs of weakening and we’re seeing a clear impact from the delta variant seeping into economic data,” Detrick said.

That same weakness could also have an upside for investors who are hoping the Federal Reserve maintains its support for low interest rates while the jobs market and broader economy continue recovering.

“You have to wonder whether we are in a bad news is good news scenario regarding the Fed,” Detrick said.

Investors have a few economic reports on tap for the week.

On Wednesday, the Labor Department will report job openings for July. The jobs market is still struggling to recover from the pandemic and employers have been finding it difficult to fill openings amid lingering health fears and the resurgent virus could make it even more difficult.

On Friday, investors will get another update on inflation when the Labor Department reports on inflation at the wholesale level before costs are passed on to consumers.

*ASX 200 expected to fall*
The Australian share market is expected to fall on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 20 points or 0.3% lower this morning. 

This follows a disappointing night of trade on Wall Street, which saw the Dow Jones fall 0.76%, the S&P 500 drop 0.34%, and the Nasdaq edge 0.07% higher


----------



## Garpal Gumnut

Thanks @bigdog .

Those two words "supply chain" seem to pop up more and more on ASF. 

gg


----------



## bigdog

https://www.usnews.com/news/busines...s-mostly-lower-after-mixed-day-on-wall-street

*Stocks Slip as Fed Report Signals 'Downshift' in Economy*
Stocks are closing lower on Wall Street Wednesday following a Federal Reserve report that shows U.S. economic activity slowed this summer amid rising worries over resurgent coronavirus cases and mounting supply chain problems and labor shortages.

By Associated Press Sept. 8, 2021

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks on Wall Street eased further from their recent highs Wednesday amid more signs that U.S. economic growth is being dampened by a resurgence in coronavirus cases and other challenges.

The S&P 500 slipped 0.1%, its third straight drop. The benchmark S&P 500 was roughly split between gainers and losers, but weakness in technology, communication and financial stocks weighed down the market. Less risky investments, including consumer staples and utilities, made broad gains.

Small-company stocks fell more than the broader market. Bond yields were mixed. Oil prices rose.

Stock indexes were already in the red before 2 p.m. Eastern, when the Federal Reserve issued its latest survey of the nation’s business conditions. Dubbed the “Beige Book,” the report found that U.S. economic activity “downshifted” in July and August amid rising worries over surging COVID-19 cases, mounting supply chain problems and labor shortages.

The Fed said the slowdown was largely attributable to a pullback in dining out, travel and tourism in most parts of the country, reflecting concerns about the spread of the highly contagious delta variant.

While muted overall, the market's reaction confirmed that investors are becoming a little bit concerned that economic activity is slowing, said Sam Stovall, chief investment strategist at CFRA.

“You could also say investors were heartened by the fact that the Fed did not say anything worse,” Stovall said.

The S&P 500 fell 5.96 points to 4,514.07, which is 0.5% below the all-time high the index set last Thursday. The Dow Jones Industrial Average fell 68.93 points, or 0.2%, to 35,031.07, and the Nasdaq composite slid 87.69 points, or 0.6%, to 2,249.73. The tech-heavy index's decline ended a four-day winning streak.

The Russell 2000 index of smaller companies lost 25.88 points, or 1.1%, to 2,249.73.

The market has been trading within a narrow range of gains and losses for the past couple of weeks, as investors look for any sort of understanding of where the U.S. economy is headed with the widespread delta variant of the coronavirus. Investors could be in for a choppy market through September as they monitor the Federal Reserve and Washington, which has to deal with budget reconciliation, infrastructure spending and the debt ceiling.

“If you look at the calendar, it's aggressive,” said Katie Nixon, chief investment officer at Northern Trust Wealth Management.

Investors received another conflicting report from the government on Wednesday. U.S. employers posted record job openings for the second consecutive month in July, according to the Labor Department. The disconnect between the growing number of job openings and the weak recovery for employment levels is another signal that the overall jobs recovery could be crimping the broader economic recovery.

“People have remained reluctant to engage in the labor market,” Nixon said. “This is not a demand problem, it's a supply issue."

If that's the case, she said, there's not much the Federal Reserve can do about it and tapering its bond-buying program makes sense. Still, there's probably a long way to go before the central bank focuses on raising interest rates.

The latest Beige Book will be used by Fed policymakers at their next meeting on Sept. 21-22 to help them decide how to move interest rates and whether to end the central bank’s $120 billion monthly bond purchases, which it has been making since the pandemic started to help lower long-term interest rates.

Technology stocks accounted for a big share of the selling Wednesday. Apple fell 1% and chipmaker Advanced Micro Devices lost 2.7%. Among the gainers were consumer staples and utilities companies, including General Mills, which rose 4.6%, and Consolidated Edison, which gained 2.7%.

Shares of cryptocurrency trading platform Coinbase fell 3.2% after the company disclosed it was being investigated by the Securities and Exchange Commission over its plans to offer its cryptocurrency holders a chance to earn interest on their assets if they lent them out. The company said the regulator has threatened to take civil enforcement action, and the launch of the lending program has been delayed until at least October.

The yield on the 10-year Treasury note fell to 1.34% after rising sharply on Tuesday to 1.37%.

Energy prices moved broadly higher. Oil prices rose 1.4% and natural gas prices jumped 7.6%.

ASX 200 expected to fall again​The Australian share market looks set to fall again on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 27 points or 0.35% lower this morning. 

This follows a poor night of trade on Wall Street, which saw the Dow Jones fall 0.20%, the S&P 500 drop 0.13%, and the Nasdaq tumble 0.57%.


----------



## bigdog

https://www.usnews.com/news/busines...ares-slip-as-fed-signals-downshift-in-economy

*Stocks End Lower on Wall Street, Extending Weekly Losses*

Stocks gave up an early gain and ended lower on Wall Street Thursday, keeping the S&P 500 and the Nasdaq on track for their first weekly losses in three weeks.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks gave up an early gain and ended lower on Wall Street Thursday, keeping the S&P 500 and the Nasdaq on track for their first weekly losses in three weeks. Technology and health care companies posted the biggest losses, offsetting gains in energy companies and banks. The S&P 500 fell 0.5% and the Nasdaq pulled back 0.3%. Boston Beer slumped nearly 4% after pulling its already lowered profit forecast, while Lululemon jumped 10.5% after reporting results that easily beat forecasts. The yield on the 10-year Treasury note fell to 1.30% and the price of U.S. crude oil lost 1.7%.

Stocks edged lower Thursday afternoon on Wall Street in choppy trading while investors continue assessing the pace of economic growth.

The holiday-shortened week has given investors several reports, some conflicting, to review for clues on the direction of the economy's recovery. The broader market has been choppy amid concerns that the recovery has slowed.

The S&P 500 fell 0.4% as of 2:35 p.m. Eastern. The Dow Jones Industrial Average fell 140 points, or 0.4%, to 34,890 and the Nasdaq composite fell 0.1%. The S&P 500 and the Nasdaq are on track to end the week lower after two weeks of gains.

Health care and technology stocks were the heaviest weights dragging down the broader market. Eli Lilly fell 5.5% and Microsoft fell 0.9%. Banks and other financial companies made gains.

GameStop fell 1.3% after the video game retailer reported a worse-than-expected loss for the quarter. The company has been at the center of a battle between a group of online investors and Wall Street hedge funds since late last year, causing the stock to be extremely volatile.

Lululemon rose 11.1% after the athletic apparel seller's quarterly results came in well above analysts' expectations.

Investors continue to monitor the progress of the economy and what the Federal Reserve plans to do as the economy continues to recover. The Federal Reserve's latest survey of the nation’s business conditions, dubbed the “Beige Book,” said Wednesday that U.S. economic activity “downshifted” in July and August.

The Fed said the slowdown was largely attributable to a pullback in dining out, travel and tourism in most parts of the country, reflecting concerns about the spread of the highly contagious delta variant.

“The economy seems to be slowing down a little bit and it's hard to know how much is temporary because of the delta variant and how much is the new normal,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance.

Fed officials have indicated they expect to dial back on stimulus measures by year’s end, and Treasury Secretary Janet Yellen has warned Congress that she will run out of maneuvering room to prevent the U.S. from breaching the government’s borrowing limit in October unless the debt ceiling is raised.

The Labor Department said Thursday that the number of Americans seeking unemployment benefits fell last week to 310,000. At their current pace, weekly applications for benefits are edging toward their pre-pandemic figure of roughly 225,000.

The upbeat report follows others that show the jobs market is still struggling to recover. The Labor Department's jobs survey for August was far weaker than economists expected, but the agency has also reported that employers are posting record job openings.

“The big question is whether the job market will get a lot stronger toward the end of this year into next year,” Zaccarelli said.

The yield on the 10-year Treasury note fell to 1.29% from 1.33% late Wednesday.

ASX 200 expected to rebound​The Australian share market looks set to end the week on a better note. According to the latest SPI futures, the ASX 200 is expected to open the day 35 points or 0.5% higher this morning. 

This follows a better than feared night of trade on Wall Street, which saw the Dow Jones fall 0.43%, the S&P 500 drop 0.46%, and the Nasdaq down 0.25%.

*September *New York (CNN Business) If you're an investor who knows your market history, you might be tempted to tune out for a bit and start singing Green Day's "Wake Me Up When September Ends." The ninth month is traditionally the worst of the year for stocks.

*Australia September is historically the weakest month of the year*, with the S&P 500 posting average declines of 1% during the month going back to 1928, according to Yardeni Research. ... The trifecta of Covid, inflation and Fed policy—which have been the dominant themes in the market for months—are likely to continue, Stucky says

Also in the USA


----------



## bigdog

https://apnews.com/article/joe-biden-china-asia-tokyo-health-60edb4ecb7ae62ddc1fdd0a915324856

*Tech slide pulls S&P 500 down for its 5th straight loss*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped a choppy day of trading Friday with another pullback for stocks and the S&P 500′s first weekly loss in three weeks.

The benchmark index fell 0.8%, its fifth straight decline, and ended 1.7% lower for the holiday-shortened week. That’s it’s biggest weekly drop since June. The other major U.S. stock indexes also posted weekly losses.

The selling was widespread, though technology, health care and communications stocks weighed most heavily on the S&P 500. Smaller company stocks also fell broadly. Treasury yields mostly rose. The price of U.S. crude oil rose 2.3%.

Stocks have traded in a narrow range for several weeks as most investors are sitting on the sidelines waiting to get a fuller understanding of where the economy is headed and how the pandemic is impacting corporations.

“There isn’t any new good news coming, and that’s important because we’ve gotten a decent amount of good news that has flowed up until this point this year,” said Liz Young, head of investment strategy at personal finance company SoFi.

The S&P 500 fell 34.70 points to 4,458.58. The index is now within 1.8% of the all-time high it set last week. The Dow Jones Industrial Average lost 271.66 points, or 0.8%, to 34,607.72. The tech-heavy Nasdaq composite shed an early gain, dropping 132.76 points, or 0.9%, to 15,115.49.

The Russell 2000 index of smaller companies gave up 21.58 points, or 1%, to 2,227.55.

Investors mulled a negative piece of inflation data Friday. Inflation at the wholesale level climbed 8.3% last month from August 2020, the biggest annual gain since the Labor Department started calculating the 12-month number in 2010.

Federal Reserve policymakers have said they believe inflation this year would be temporary and is a result of the economy recovering from the pandemic. However, persistently high inflation could force the Fed’s hand to start pulling back on its bond-buying program and low interest rate policy sooner than anticipated.

The bond market had a mild reaction to the inflation data, a possible sign that investors continue to agree with the Fed’s outlook. The yield on the 10-year Treasury note rose to 1.33% from 1.30%.

The pandemic remains in the forefront of investors’ minds, as hospitals fill up in the South and other parts of the country. President Joe Biden announced Thursday that companies with more than 100 employees would be required to have their employees vaccinated or do weekly testing, an announcement big companies have been willing to embrace.

“A lot of the pain was felt in August and that’s part of why September is going to be so choppy,” Young said. “I’m hopeful that some of the worst of that is behind us and we can move forward.”

The market is still trying to find reasons to go higher, she said, and the economy is also likely to keep grinding on because of the desire from consumers and companies to get back to a more normal way of operating.

Industries that have been hit hardest through the pandemic and are relying on a steady recovery have been struggling as COVID-19 cases rise with the highly contagious delta variant. Travel-related companies were among the decliners Friday. American Airlines slid 6.2% and Delta Air Lines lost 4.2%, while cruise line operator Carnival fell 2.3% and Norwegian Cruise Line dropped 1.4%.

Apple fell 3.3% after a federal judge ordered the iPhone maker to dismantle part of the competitive barricade guarding its closely run app store, which is one of its biggest moneymakers.

Restaurant and arcade operator Dave & Buster’s rose 1.2% after reporting solid financial results. Endo International surged 32.9% after settling opioid cases with the state of New York and two large counties in a $50 million deal.


----------



## bigdog

ASX 200 expected to fall​The Australian share market looks set to fall on Monday. According to the latest SPI futures, the ASX 200 is expected to open the day 28 points or 0.4% lower this morning. 

This follows a very disappointing end to the week on Wall Street, which saw the Dow Jones fall 0.8%, the S&P 500 drop 0.77%, and the Nasdaq tumble 0.87%. Economic uncertainty led to the Dow recording five consecutive daily declines last week.


----------



## bigdog

https://apnews.com/article/japan-asia-tokyo-hong-kong-business-9177ebdd475b0c32f6f1267c4cb3e12a

*US stocks edge higher, regrouping after a down week*

By DAMIAN J. TROISE and ALEX VEIGA

A late-afternoon burst of buying helped stock indexes close mostly higher on Wall Street Monday, snapping a five-day losing streak for the S&P 500.

The benchmark index shook off an afternoon slump to finish 0.2% higher. Banks, energy companies and communication stocks accounted for much of the index’s broad gains. Health care and utilities stocks fell. The S&P 500 was coming off its biggest weekly drop since June.

The price of U.S. crude oil rose 1% and crossed back above $70. It hasn’t closed above that level since early August. Natural gas prices jumped 5.9% and are at their highest levels since the middle of 2014. The solid gains helped lift energy stocks, including a 2.6% rise for Exxon Mobil and a 7.2% jump for Marathon Oil.

Stocks have traded in a narrow range for several weeks as most investors are sitting on the sidelines waiting to get a fuller understanding of where the economy is headed and how the pandemic is impacting corporations.

“Interestingly it’s all still within this narrow band that we’ve been seeing in the markets” said Greg Bassuk, CEO of Axs Investments. “Investors are still looking to hang their hats on more outsized or more significant news relating to the economic recovery.”

The S&P 500 rose 10.15 points to 4,468.73. Despite it’s pullback last week and modest gain Monday, the index remains just 1.5% below the all-time high it set on Sept. 2.

The Dow Jones Industrial Average rose 261.91 points, or 0.8%, to 34,869.63, while the Nasdaq slipped 9.91 points, or 0.1%, to 15,105.58.

Bond yields edged lower. The yield on the 10-year Treasury fell to 1.32% from 1.34% late Friday.

Several key pieces of news helped lift some companies and sectors.

Spirit Aerosystems, which is a key parts supplier to Boeing, rose 4.7% following the announcement of more government support for the industry. The Biden administration is making $482 million available to aviation industry manufacturers to help them avert job or pay cuts in the pandemic. Parker-Hannifin rose 1.9%.

Kansas City Southern rose 0.5% and Canadian Pacific was flat after Kansas City said a $31 billion bid from Canadian Pacific is superior to a rival one from Canadian National.

TransUnion fell 2% after announcing a deal to buy data services company Neustar.Investors have been dealing with choppy trading for weeks as they try to assess how the economic recovery moves forward with rising COVID-19 cases hurting consumer spending and employment growth, while raising prices on goods. Wall Street is also closely watching how the Federal Reserve reacts to the changing pace of economic growth with its plans to eventually taper support for low interest rates.

“The major market triggers going back to COVID-19, the Fed, and geopolitics are going to continue in the immediate term to show mixed signals and that will create more investor uncertainty,” Bassuk said.

Wall Street will have several key pieces of data to review this week. The Labor Department will release its consumer price index for August on Tuesday, which will give investors another update on inflation as businesses and consumers face higher prices because of supply constraints.

The Commerce Department will release retail sales data for August on Thursday to a market still trying to determine the full impact of rising COVID-19 cases on consumer spending.

ASX 200 expected to fall​The Australian share market is expected to edge lower on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 20 points or 0.3% lower this morning. 

This is despite US markets starting the week on a positive note. On Wall Street the Dow Jones rose 0.76% and the S&P 500 climbed 0.23%, but the Nasdaq dropped 0.07%.


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## bigdog

https://apnews.com/article/business-stock-markets-asia-sydney-tokyo-90a0198536739b13f8e9aa24a685daac

*US stocks can’t hold on to an early gain and resume falling*

By DAMIAN J. TROISE and ALEX VEIGA

Banks and energy companies led a broad slide for stocks on Wall Street Tuesday, handing the S&P 500 its sixth loss in the last seven trading days.

The S&P 500 fell 0.6% after an early gain faded by midafternoon. The benchmark index’s 11 sectors all ended in the red, with banks, energy stocks and industrial and communication companies among the biggest drags on the index. The selling more than offset the S&P 500′s modest gain from a day before.

The market had started higher after the latest data on inflation came in better than economists had expected, but reversed course within the first hour of trading, suggesting the report didn’t ease investors’ inflation worries. On Friday, the government reported that U.S. wholesale prices jumped sharply in August.

“There are still inflationary pressures even if they (consumer prices) came in lower than expected,” said Kristina Hooper, chief global market strategist at Invesco. “It doesn’t mean that it’s over.”

The S&P 500 fell 25.68 points to 4,443.05. The Dow Jones Industrial Average dropped 292.06 points, or 0.8%, to 34,577.57. The Nasdaq composite fell 67.82 points, or 0.5%, to 15,037.76.

Small companies fared worse than the broader market. The Russell 2000 index slid 30.80 points, or 1.4%, to 2,209.98.

U.S. consumer prices rose a lower-than-expected 0.3% last month, the smallest increase in seven months and a hopeful sign that inflation pressures may be cooling. Still, the report followed an 8.3% annual increase in wholesale prices last month from August 2020, the biggest annual gain since the Labor Department started calculating the 12-month number in 2010.

That report on prices at the wholesale level was worse than expected, signaling problems for companies contending with higher costs, Hooper said. Those costs could be passed along to consumers, but companies unable to do that could see their upcoming earnings get dented.

Inflation has been a key concern for investors, who are trying to gauge how it will impact both the economy’s recovery and the Federal Reserve’s policy on maintaining low interest rates. The central bank has said higher costs for raw materials and consumer goods will likely remain temporary as the economy recovers, but analysts are concerned that the higher prices could stick around and dent companies’ bottom lines while also crimping spending.

Bond yields eased following the Labor Department’s report. The yield on the 10-year Treasury fell to 1.29% from 1.32% late Monday. It had been rising overnight to about 1.34% shortly before the report was released.

The lower bond yields weighed down banks, which rely on higher yields to charge more lucrative interest on loans. Bank of America fell 2.7% and JPMorgan dropped 1.7%.

The broader concerns about inflation and rising prices have added to choppy trading, along with lingering worries about how the more contagious delta variant of COVID-19 will impact an economy that’s still finding its footing.

“This environment is likely to continue,” Hooper said. “It may seem uncomfortable because we had such a strong market for so long.”

Still, she expects stocks to continue making gains after Wall Street gets past much of the uncertainty over the Fed and the economic recovery, “but it could be a very bumpy road between now and then.”

Investors will get more information on the economy later this week. The Commerce Department will release retail sales for August on Thursday, giving another glimpse into consumer spending. The University of Michigan will release its consumer sentiment survey on Friday.

Elsewhere in the market, several companies made big moves on a mix of news.

Dietary supplement company Herbalife slumped 21.1% after cutting its profit and revenue forecasts. Wynn Resorts slid 10.9% for the biggest drop in the S&P 500 over concerns that its casinos in Macau could face stricter oversight as China tries to tighten regulations on a broad range of industries. Casino operator Las Vegas Sands also fell, closing 9.8% lower.

Cable provider Comcast fell 7.3% after the company warned about a slowdown in new cable customers.

ASX 200 expected to fall​The Australian share market is expected to drop on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 34 points or 0.45% lower this morning. 

This follows a disappointing night of trade on Wall Street, which saw the Dow Jones fall 0.84%, the S&P 500 drop 0.57%, and the Nasdaq fall 0.45%.


----------



## Garpal Gumnut

So @bigdog Banks. Energy. Smaller companies fell more proportionately.

gg


----------



## bigdog

https://apnews.com/article/health-china-stock-markets-asia-business-9b32fd11956d079722adabd64c03c7e6

*Stocks post broad gains, led by energy companies and tech*

By DAMIAN J. TROISE and ALEX VEIGA

Energy and technology companies helped lift stocks on Wall Street broadly higher Wednesday, reversing the market’s pullback from a day earlier.

The S&P 500 rose 0.8% after another day of choppy trading. It was the biggest daily gain for the benchmark index since late August and it put the S&P 500 on pace to close the week higher.

About 80% of stocks in the index rose. Energy companies did particularly well as prices for crude oil and natural gas climbed, and Microsoft helped pull the tech sector higher after announcing a dividend increase and a new stock buyback program. Health care and financial stocks also made solid gains. Utilities, which investors tend to shun when they’re more willing to take on risk, were the only sector to fall.

The rally marked the latest reversal for the market this month, which has been characterized by choppy trading and small moves, usually ending with stocks finishing lower, but still near their recent all-time highs. Stocks fell Friday, rose Monday and then fell again on Tuesday.

“We’ve just retraced some of the weakness that we’ve seen the past few days,” said Willie Delwiche, investment strategist at All Star Charts. “In aggregate, the median stock hasn’t really gone anywhere in six months.”

The S&P 500 rose 37.65 points to 4,480.70. The index is within 1.3% of its all-time high set Sept. 2. The Dow Jones Industrial Average gained 236.82 points, or 0.7%, to 34,814.39. The Nasdaq composite added 123.77 points, or 0.8%, to 15,161.53. Small-company stocks did even better with the Russell 2000 index gaining 24.46 points, or 1.1%, to 2,234.45.

U.S. government bond yields rose. The yield on the 10-year Treasury rose to 1.30% from 1.27% late Tuesday. Banks benefitted from the higher yields, which allow them to charge more lucrative interest rates on loans. Citigroup rose 2.4% and Capital One Financial gained 2.9%.

Oil prices rose 3.1% and natural gas prices rose 3.8% as the oil and gas industry continues to sort through the damage caused by hurricane season in the Gulf. Disruptions have been more pronounced than originally expected, and there’s been some oil spills from some refineries.

ExxonMobil gained 3.4%, while Occidental Petroleum climbed 6.1% and Marathon Oil finished 7.7% higher.

Casino stocks slumped following reports of a possible crackdown on the industry by Chinese officials in Macau, the former Portuguese colony and gambling center. Wynn Resorts fell 6.3% for the biggest drop in the S&P 500, while MGM Resorts fell 2.5% and Las Vegas Sands slid 1.7%.

Investors have been navigating a choppy market as they try to determine how rising cases of COVID-19 because of the highly contagious delta variant will impact economic growth. The employment market has been slow to recover and consumer spending has been tempered in recent months.

Wall Street will get get more information on jobs and consumer spending on Thursday when the Labor Department releases its weekly report on unemployment benefits and the Commerce Department releases retail sales data for August.

ASX 200 expected to rebound​The Australian share market looks set to rebound on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 33 points or 0.45% higher this morning. 

This follows a strong night of trade on Wall Street, which saw the Dow Jones rise 0.68%, the S&P 500 climb 0.85%, and the Nasdaq jump 0.82%.


----------



## bigdog

https://apnews.com/article/technology-china-japan-asia-hong-kong-5ece121084fb27908bbe89d6479c66cb

*Stocks end lower after a brief afternoon recovery fades*

By DAMIAN J. TROISE and ALEX VEIGA

Another day of choppy trading on Wall Street left stocks mostly lower, cutting into the major indexes’ gains for the week.

The S&P 500 and the Dow Jones Industrial Average each lost about 0.2%, while the tech-heavy Nasdaq managed to eke out a gain of 0.1%. More stocks fell than rose in the S&P 500, and most of the benchmark index’s sectors took slight losses.

The market had edged higher in the early going after a surprisingly good retail sales report for August, but then quickly turned lower and remained there for much of the day. By late afternoon, major indexes had clawed back the ground they lost earlier and turned slightly higher, only to shed some of those gains in the final minutes of trading.

Markets have been choppy as investors shift money between various sectors while they parse any data coming out that could give more clues and signals on the potential direction of the economy and how the Federal Reserve will react.

The central bank will meet next week, and investors will listen closely for any comments about when and how much it will taper support for low interest rates that have helped fuel gains for stocks throughout the year.

“What you’re seeing over the last month has been hesitation to really commit,” said J.J. Kinahan, chief strategist with TD Ameritrade. “Until we have more clarity from the Fed, the pattern will continue.”

The S&P 500 fell 6.95 points to 4,473.75. The index remains within 1.4% of the all-time high it set on Sept. 2. The Dow dropped 63.07 points to 34,751.32, while the Nasdaq added 20.39 points to 15,181.92.

Small company stocks also gave up some ground. The Russell 2000 index slipped 1.54 points, or 0.1%, to 2,232.91.

Investors were given another mixed bag of economic data to review as they try to gauge the economic recovery’s path ahead amid the virus pandemic, inflation and other factors.

The Commerce Department reported that retail sales rose 0.7% last month. Economists had expected a 0.85% contraction over concerns that people would have pulled back on spending as the highly contagious delta variant of COVID-19 prompts consumers to pull back on shopping.

Consumers simply shifted spending to more online purchases and away from businesses that are still struggling to recover from the pandemic, including restaurants and other business that rely on in-person spending.

Wall Street also weighed a disappointing report showing that weekly unemployment claims rose more than expected.

Industrial, health care and raw materials companies were the biggest drag on the S&P 500. Deere & Co. fell 1.2%, Eli Lilly dropped 1.2% and Freeport-McMoRan slid 6.6%, the biggest drop in among S&P 500 companies.

Losses for banks were tempered by rising bond yields that help them charge more lucrative interest on loans. The yield on the 10-year Treasury rose to 1.33% from 1.30% late Wednesday.

A mix of retailers gained ground following the retail sales report, which showed a surprise jump in August. Gap rose 1.6% and Bath & Body Works rose 2.1%.

ASX 200 expected to fall​The Australian share market looks set to end the week on a disappointing note. According to the latest SPI futures, the ASX 200 is expected to open the day 14 points or 0.2% lower this morning. 

This follows a mixed night on Wall Street, which saw the Dow Jones fall 0.18%, the S&P 500 drop 0.16%, and the Nasdaq rise 0.13%.


----------



## bigdog

https://apnews.com/article/business-japan-asia-tokyo-yoshihide-suga-7e5c7cf965705c9950fbcf1edbc24f24

*Stocks fall on Wall Street, giving up the week’s gains*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped an up-and-down week of trading Friday with a broad sell-off that wiped out the major indexes’ gains for the week.

The S&P 500 lost 0.9% and posted its second straight weekly loss. Roughly 80% of the stocks in the benchmark index fell. Technology and communication companies accounted for much of the pullback. Industrial and financial stocks also were big drags on the index. Only the index’s health care sector managed a gain.

Small-company stocks bucked the overall market slide. Bond yields rose broadly. Energy prices fell.

Trading has been choppy throughout the week as investors weighed a mixed bag of economic data reflecting how the economy is weathering a spike in COVID-19 cases and how it might continue its recovery in the coming months. Wall Street is also looking ahead to next Wednesday, when the Federal Reserve is due to deliver its latest economic and interest rate policy update.

“We’ve seen a gradual deterioration over the course of the week, with two little up periods, but for the most part, generally a weakening (stock) market,” said Alan McKnight, chief investment officer at Regions Asset Management.

The S&P 500 fell 40.76 points to 4,432.99. Despite being down about 0.6% for the week, the index is within 2.3% of the all-time high it set Sept. 2. 

The Dow Jones Industrial Average fell 166.44 points, or 0.5%, to 34,584.88, while the tech-heavy Nasdaq composite slid 137.96 points, or 0.9%, to 15,043.97.

The Russell 2000 index of smaller companies recovered from an early slide and rose 3.96 points, or 0.2%, to 2,236.87.

Bond yields rose. The yield on the 10-year Treasury rose to 1.38% from 1.33% late Thursday.

Technology and communication stocks were the biggest weights on the market. Apple fell 1.8% and Facebook dropped 2.2%.

Oil prices fell 0.9% and natural gas prices fell 4.3%. The weak energy prices helped pull down energy stocks. Oilfield services company Schlumberger fell 1.9%.

Health care stocks eked out gains. Lab equipment maker Thermo Fisher Scientific was a standout with a 6.5% jump after giving investors an encouraging business update. Some travel-related stocks made solid gains. Cruise line operator Carnival rose 2%, while Norwegian Cruise Line gained 2.1%.

Also influencing the market’s gyrations was “quadruple witching,” the simultaneous expiration of four kinds of options and futures contracts. The phenomenon happens four times a year and forces traders to tie up loose ends in contracts they hold. More than 750 billion single stock options were due to mature Friday, said McKnight.

“Just the sheer size of that plays into this,” he said. “It creates more volume in the market and some of the volatility associated with that.”

Much of this week’s economic data pointed to an economy struggling to move forward in the last few months. Inflation remains a concern for businesses, which are dealing with supply chain problems and facing higher costs. Concerns about the highly contagious delta variant also have analysts worried that consumer spending, a key piece of economic growth, could stall.

Investors will have their eye on the Fed next week to see whether the central bank takes any action to address the impact of rising prices on businesses and consumers. The Fed has said higher costs for raw materials and consumer goods will likely remain temporary as the economy recovers, but analysts are concerned that the higher prices could stick around and dent companies’ bottom lines while also crimping spending.


----------



## bigdog

ASX 200 expected to fall again​ 
The Australian share market looks set to fall heavily again on Monday. According to the latest SPI futures, the ASX 200 is expected to open the day 68 points or 0.9% lower this morning. This follows a disappointing end to the week on Wall Street, which saw the Dow Jones fall 0.5%, the S&P 500 drop 0.9%, and the Nasdaq tumble 0.9%.


----------



## bigdog

https://apnews.com/article/business-asia-tokyo-hong-kong-shanghai-b52fc25ad8c51f726bd2fb3f75de6fa9

*Stocks drop the most since May on worries over China, Fed*

By DAMIAN J. TROISE, STAN CHOE and ALEX VEIGA

Stocks on Wall Street closed sharply lower Monday, mirroring losses overseas and handing the S&P 500 index its biggest drop in four months.

Worries about heavily indebted Chinese real estate developers — and the damage they could do to investors worldwide if they default — rippled across markets. Investors are also concerned that the U.S. Federal Reserve could signal this week that it’s planning to pull back some of the support measures it’s been giving markets and the economy.

The S&P 500 fell 75.26 points, or 1.7%, to 4,357.73, it’s biggest drop since May. At one point, the benchmark index was down 2.9%, the biggest decline since last October. The S&P 500 was coming off two weeks of losses and is on track for its first monthly decline since January. The S&P 500 has gone an unusually long time without a pullback of 5% or more.

The Dow Jones Industrial Average fell 614.41 points, or 1.8%, to 33,970.47. The blue-chip index was briefly down 971 points. The Nasdaq fell 330.06 points, or 2.2%, to 14,713.90. The Hang Seng, Hong Kong’s main index, dropped 3.3% for its biggest loss since July. European markets fell about 2%.

“What’s happened here is that the list of risks has finally become too big to ignore,” said Michael Arone, chief investment strategist at State Street Global Advisors. “There’s just a lot of uncertainty at a seasonally challenging time for markets.”

The worries over Chinese property developers and debt have recently centered on Evergrande, one of China’s biggest real estate developers, which looks like it may be unable to repay its debts.

The fear is that a potential collapse there could send a chain reaction through the Chinese property-development industry and spill over into the broader financial system, similar to how the failure of Lehman Brothers inflamed the 2008 financial crisis and Great Recession. Those property companies have been big drivers of the Chinese economy, which is the world’s second-largest.

If they fail to make good on their debts, the heavy losses taken by investors who hold their bonds would raise worries about their financial strength. Those bondholders could also be forced to sell other, unrelated investments to raise cash, which could hurt prices in seemingly unrelated markets. It’s a product of how tightly connected global markets have become, and it’s a concept the financial world calls “contagion.”

Many analysts say they expect China’s government to prevent such a scenario, and that this does not look like a Lehman-type moment. Nevertheless, any hint of uncertainty may be enough to upset Wall Street after the S&P 500 has glided higher in almost uninterrupted fashion since October.

Besides Evergrande, several other worries have been lurking underneath the stock market’s mostly calm surface. In addition to the Fed possibly announcing that it’s letting off the accelerator on its support for the economy, Congress may opt for a destructive game of chicken before allowing the U.S. Treasury to borrow more money and the COVID-19 pandemic continues to weigh on the global economy.

Regardless of what the biggest cause for Monday’s market swoon was, some analysts said such a decline was due. The S&P 500 hasn’t had even a 5% drop from a peak since October, and the nearly unstoppable rise has left stocks looking more expensive and with less room for error.

All the concerns have pushed some on Wall Street to predict upcoming drops for stocks. Morgan Stanley strategists said Monday that conditions may be ripening to cause a fall of 20% or more for the S&P 500. They pointed to weakening confidence among shoppers, the potential for higher taxes plus inflation to eat into corporate profits and other signs that the economy’s growth may slow sharply.

Even if the economy can avoid that worse-than-expected slowdown, Morgan Stanley’s Michael Wilson said stocks could nevertheless drop about 10% as the Fed pares back on its support for markets. The Fed is due to deliver its latest economic and interest rate policy update on Wednesday.

Earlier this month, Stifel strategist Barry Bannister said he expects a drop of 10% to 15% for the S&P 500 in the final three months of the year. He cited the Fed’s tapering of its support, among other factors. So did Bank of America strategist Savita Subramanian, as she set a target of 4,250 for the S&P 500 by the end of the year. That would be a 4.1% drop from Friday’s close.

Technology companies led the broader market lower. Apple fell 2.1% and chipmaker Nvidia dropped 3.6%.

Banks posted big losses as bond yields slipped. That hurts their ability to charge more lucrative interest rates on loans. The yield on the 10-year Treasury fell to 1.31% from 1.37% late Friday. Bank of America fell 3.4%.

Oil prices fell 2.3% and weighed down energy stocks. Exxon Mobil fell 2.7%.

Smaller company stocks were among the biggest losers. The Russell 2000 fell 54.67 points, or 2.4%, to 2,182.20.

Airlines were among the few bright spots. American Airlines rose 3% to lead all the gainers in the S&P 500. Delta Air Lines rose 1.7% and United Airlines added 1.6%.

Cryptocurrency traders also had a rough day. The price of Bitcoin fell nearly 8% to $43,717, according to Coindesk.

Investors will have a chance for a closer look at how the slowdown affected a wide range of companies when the next round of corporate earnings begins in October. Solid earnings have been a key driver for stocks, but supply chain disruptions, higher costs and other factors could make it more of a struggle for companies to meet high expectations.

“The market’s biggest strength this year could become its biggest risk,” Arone said.

ASX 200 expected to sink again​The Australian share market is expected to sink again on Tuesday. According to the latest SPI futures, the ASX 200 is poised to open the day 98 points or 1.4% lower. 

This follows a poor start to the week on Wall Street. The Dow Jones fell 1.78%, the S&P 500 sank 1.7%, and the Nasdaq dropped 2.19%.


----------



## bigdog

https://apnews.com/article/business-china-japan-asia-tokyo-915c588ed46e4403aff86f0466f06214

*After a wobbly day, major indexes end mixed on Wall Street*

By DAMIAN J. TROISE and ALEX VEIGA

A late-afternoon burst of buying on Wall Street faded in the final minutes of trading Tuesday, leaving the major stock indexes mixed.

The S&P 500 slipped 0.1% after spending much of the day wavering between small gains and losses. The modest pullback followed the benchmark index’s biggest drop in four months a day earlier.

Roughly 66% of stocks in the S&P 500 fell, with industrial, communication and financial companies accounting for much of the drop. Bond yields mostly rose. The price of U.S. crude oil also rose.

For parts of the afternoon the market had looked like it would recoup some of the losses it took in Monday’s big sell-off, but by the closing bell even those gains had mostly fizzled. The market’s uneven showing came as investors looked ahead to Wednesday afternoon, when the Federal Reserve is set to deliver its latest economic and interest rate policy update.

“It’s a bit of a pause and the market is waiting for the Federal Reserve to see what they have to say tomorrow,” said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management.

The S&P 500 fell 3.54 points to 4,354.19, while the Dow Jones Industrial Average dropped 50.63 points, or 0.1%, to 33,919.84. The Nasdaq composite rose 32.49 points, or 0.2%, to 14,746.49.

Small company stocks also managed gains. The Russell 2000 index rose 3.98 points, or 0.2%, to 2,186.18.

European markets closed broadly higher, while Asian markets mostly rose. Chinese markets remained closed for a holiday.

The yield on the 10-year Treasury edged higher to 1.32% from 1.31% late Monday.

The market sell-off on Monday was prompted in part by worries about heavily indebted Chinese real estate developers and the damage they could do if they default and send ripple effects through markets. That added to a wide range of concerns hovering over investors, including the highly contagious delta variant as well as higher prices squeezing business and consumers.

Wall Street is also gauging how the recovery’s slowdown will impact the Fed’s policies that have helped support the market and economy. The central bank will release a policy statement on Wednesday, which will be closely watched for any signals on how it will eventually reduce its bond purchases that have helped keep interest rates low.

Health care stocks led the gainers Tuesday. Johnson & Johnson rose 0.4% after reporting that a booster of its one-shot coronavirus vaccine provides a stronger immune response months after people receive a first dose.

Technology companies, which led the broad sell-off Monday, regained some ground. Chipmaker Advanced Micro Devices rose 1.6%.

Several companies made solid gains after giving investors encouraging financial updates. Ride-hailing company Uber jumped 11.5% after telling investors that it could post an adjusted profit this quarter. Equipment rental supplier Herc Holdings rose 6.7% following a solid long-term growth forecast.

Supply chain problems, which have been hurting a broad range of industries, weighed on several companies. Homebuilder Lennar fell 0.5% after home deliveries for the third quarter fell short of analysts’ forecasts because of supply chain problems.

Restaurant operator Cracker Barrel fell 2.7% after reporting weak fiscal fourth-quarter financial results.

Universal Music jumped 35.7% in its debut on Amsterdam’s stock exchange.

ASX 200 futures pointing lower​The Australian share market is expected to drop on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 11 points or 0.15% lower. 

This follows a disappointing night on Wall Street which saw the Dow Jones fall 0.15%, the S&P 500 drop 0.08%, but the Nasdaq rise 0.22%. US markets roared back in early trade but ultimately gave back their gains.


----------



## bigdog

https://apnews.com/article/business-japan-asia-tokyo-economy-e9d527f97b5e587abb98f0fef4f4ca59

*Stocks hold their gains on Wall Street after Fed statement*

By DAMIAN J. TROISE, ALEX VEIGA and STAN CHOE

Markets in South Korea and Hong Kong were closed for holidays.

Stocks on Wall Street closed broadly higher Wednesday after the Federal Reserve signaled it may begin easing its extraordinary support measures for the economy later this year.

The central bank said it may start raising its benchmark interest rate sometime next year, earlier than it envisioned three months ago. It also said it will likely begin slowing the pace of its monthly bond purchases “soon” if the economy keeps improving. The Fed’s been buying the bonds throughout the pandemic to help keep long-term interest rates low.

The S&P 500 rose 1%, breaking a four-day losing streak. The benchmark index initially climbed 1.4% after the Fed’s issued its statement at 2 p.m. Eastern.

The other major indexes also received a bump, but shed some of their gains by late afternoon. The Dow Jones Industrial Average rose 338.48 points, or 1%, to 34,258.32. The blue-chip index briefly surged 520 points higher. The Nasdaq composite gained 150.45 points, or 1%, to 14,896.85.

Bond yields mostly rose. The yield on the 10-year Treasury note wobbled up and down after the Fed’s announcement, but wound up little changed at 1.31% from 1.32% late Tuesday. The yield influences interest rates on mortgages and other consumer loans.

Wall Street analysts said the Fed’s policy update was in line with what the market was expecting. The VIX, which measures how much volatility investors expect for the S&P 500, sank about 14% after the Fed statement.

“This was so well telegraphed that it didn’t take anybody by surprise,” said Brian Jacobsen, senior investment strategist at Wells Fargo Asset Management.

At a news conference, Federal Reserve Chair Jerome Powell said the Fed plans to announce as early as November that it will start to taper its monthly bond purchases, should the job market maintain its steady improvement.

The Fed’s shift revealed that inflation is starting to be a concern, said Gene Goldman, chief investment officer at Cetera Financial Group.

“Our concern is that the Fed keeps sticking to its view that this is a transitory phase, but we aren’t seeing evidence that this is transitory,” he said.

Goldman added that the broader market could be in for a correction as economic growth slows and rising inflation persists. “Our concerns about the overall economy and market is that number one, we’re at peak everything,” he said.

Wall Street has been trying to gauge how the slowdown in the economic recovery will affect the Fed’s decision-making process. The broader market has been choppy as that question lingers amid rising cases of COVID-19 because of the highly contagious delta variant and the impact of rising inflation on companies and consumers.

History doesn’t offer a great guide for how markets will react to the Fed’s easing its support for the economy, mostly because it’s been such a rare occurrence. But the market’s movements around them can seem counterintuitive.

Consider the summer of 2013, when Treasury yields jumped sharply after the Fed’s chair at the time hinted it may begin slowing its bond-buying program. Investors were taken by surprise and assumed rate increases would also quickly follow. That drove the yield on the 10-year Treasury up to 3% from less than 2.20% within three months.

But after the Fed’s official announcement that it would taper its purchases finally arrived in December, the 10-year yield quickly made a U-turn and began falling again. That’s even though the Fed was reducing its support for a program meant to keep rates low. Analysts say that shows how much power the Fed has through signaling: a taper can mean less help is on the way for the economy, which can mean slower growth and inflation.

Through all the bond market’s turmoil of 2013, stock prices remained relatively steady.

What makes this situation different from 2013 is the bond market hasn’t had a taper tantrum. The 10-year yield has been relatively steady between 1.20% and 1.30% since July, after falling from 1.70% in March. Powell has repeatedly stressed how gradual the Fed will be in moving from tapering its bond purchases to raising interest rates.

More than 80% of stocks in the S&P 500 index rose Wednesday. Technology stocks, banks and companies that rely on direct consumer spending accounted for much of the gains. Energy stocks posted solid gains as the price of U.S. crude oil rose 2.4%. Communication and utilities stocks fell.

Smaller stocks did better than the broader market. The Russell 2000 index rose 32.38 points, or 1.5%, to 2,218.56.

Netflix climbed 3.1% after the streaming entertainment service acquired the works of Roald Dahl, the late British author of celebrated children’s books such as “Charlie and the Chocolate Factory.”

Facebook fell 4% and tempered gains for communications stocks after the social network told advertisers in a blog post that it has been underreporting web conversions by Apple mobile device users by roughly 15% following changes to Apple’s operating system.

FedEx slumped 9.1%, the biggest decline among S&P 500 stocks, after it reported sharply higher costs even as demand for shipping increased. A wide range of industrial and other companies have been dealing with higher costs because of a mix of labor and supply chain problems.

Meanwhile, Wall Street may have reason to feel less worried about heavily indebted Chinese real estate developers and the damage they could do if they default and send ripple effects through markets. Evergrande, one of China’s biggest private sector conglomerates, said it will make a payment due Thursday, potentially easing some of those concerns.

European markets closed mostly higher and Asian markets were mixed. Markets in South Korea and Hong Kong were closed for holidays.

ASX 200 expected to rise​The Australian share market looks set to rise on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 16 points or 0.2% higher this morning.

This follows a strong night of trade on Wall Street, which saw the Dow Jones rise 1%, the S&P 500 climb 0.95%, and the Nasdaq jump 1.02%.


----------



## bigdog

https://apnews.com/article/health-china-asia-australia-business-ea1fbf2086236f5355071c42f545b82e

*Another rally on Wall Street erases losses for the week*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks on Wall Street rallied for the second straight day Thursday and have now reversed the market’s sharp pullback at the start of the week.

The S&P 500 rose 1.2%, with more than 85% of companies in the benchmark index notching gains. The Dow Jones Industrial Average gained 1.5% and the Nasdaq rose 1%.

The rally put the major indexes on pace for weekly gains just four days after a broad sell-off handed the S&P 500 its biggest skid since May and knocked the Dow more than 600 points lower.

The market’s sharp swing from Monday, when the S&P 500 slumped 1.7%, to Thursday, when it closed with 0.4% gain for the week, reflects how quickly investor sentiment can change, and is another example of how in a market that’s near all-time highs, traders tend to see waves of selling as buying opportunities.

Monday’s sell-off was triggered by concerns about the potential for a default by Evergrande, a huge, debt-laden private Chinese real estate developer. Traders also were feeling uneasy about how quickly the Federal Reserve might elect to rein in some of the support measures it’s been giving the markets and economy.

Those worries were allayed by Wednesday, when the Federal Reserve signaled it wouldn’t begin considering such a tapering of support before at least November, and indicated it may start raising its benchmark interest rate sometime next year. Investors also got reassuring news out of China, where Evergrande said it would make a payment due Thursday on a domestic bond.

“The last few days have just been this recognition that all the things that were being talked about, the market has shrugged them off,” said Michael Antonelli, managing director and market strategist at Baird, noting that the S&P 500 is only about 1.5% below its all-time high set earlier this month.

“The market was just ripe for a sell-off,” on Monday, Antonelli said. “We still have not had a 5% pullback from the highs yet this year.”

After its two-day policy meeting concluded Wednesday, the Fed said it will likely begin slowing the pace of its monthly bond purchases “soon” if the economy keeps improving. The Fed and other central banks have been buying bonds throughout the pandemic to help keep long-term interest rates low.

“The reality is that the Fed is going to err on side of not tightening anything on inflation until they absolutely have to,” said Brent Schutte, chief investment strategist, Northwestern Mutual Wealth Management Company. “They are going to stick around as long as they possibly can.”

Still, markets have had a rough September and investors could be in for more choppiness as they work through a mix of concerns, Schutte said. That includes COVID-19 and its lingering impact on the economy, along with a slow recovery for the employment market.

“People got so used to a one-way market,” he said. “It’s going to be more of two-way market and investors need to get used that, but I still think the trend is higher.”

The change in investor sentiment has also put oil prices in the green. Benchmark U.S. crude oil is now up 1.2% for the week.

Bond yields moved solidly higher. The yield on the 10-year Treasury rose to 1.43% from 1.32% late Wednesday, a big move.

All told, the S&P 500 index rose 53.34 points to 4,448.98. The Dow gained 506.50 points to 34,764.82, while the Nasdaq rose 155.40 points to 15,052.24.

Technology companies and banks led the way higher Thursday. Cloud-based software company Salesforce.com was a standout with a 7.2% gain after raising its sales forecast for the year. Citigroup rose 3.9%.

Small-company stocks, which are typically a good measure of investor confidence for economic growth, also jumped over to the winning column. The Russell 2000 rose 40.48 points, or 1.8%, to 2,259.04. It’s up 1% for the week.

Other standouts included Olive Garden owner Darden Restaurants. Its stock jumped 6.1% after delivering strong quarterly results.

European and Asian markets rose.
ASX 200 expected to rise​The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 7 points or 0.1% higher this morning.

This follows a very strong night on Wall Street, which saw the Dow Jones jump 1.48%, the S&P 500 rise 1.21%, and the Nasdaq storm 1.04% higher


----------



## bigdog

https://apnews.com/article/coronavi...h-japan-asia-872ace8158515f330d7cc26cb1530143

*Stocks end mixed on Wall Street, S&P 500 manages weekly gain*

By DAMIAN J. TROISE and ALEX VEIGA

Wall street closed out a choppy week of trading Friday with a mixed finish for the major stock indexes, though the S&P 500 managed its first weekly gain in three weeks.

The benchmark index rose 0.1% after spending much of the day wavering between small gains and losses. The Dow Jones Industrial Average also eked out a 0.1% gain, while the Nasdaq composite and the Russell 2000 index of small-company stocks fell.

Slightly more stocks in the S&P 500 rose than fell, with communication services companies and banks driving much of the increase. Health care and real estate stocks posted some of the biggest losses. The index ended with a 0.5% gain for the week.

The modest showing followed a two-day rally that helped erase a slump earlier in the week. Investors have been facing similar choppiness throughout September as they try to gauge how the economy will continue its recovery.

“The market today was sort of catching its breath after the sharp slump in the first two days of the week and the sharp advance in the second two days of the week,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 rose 6.50 points to 4,455.48 and is now within 1.9% of the all-time high it set Sept. 2. The Dow added 33.18 points to 34,798. The Nasdaq slipped 4.54 points, or less than 0.1%, to 15,047.70, while the Russell 2000 dropped 10.97 points, or 0.5%, to 2,248.07.

Markets have had a rough September and investors could be in for more choppiness as they work through a mix of concerns, including COVID-19 and its lingering impact on the economy, along with a slow recovery for the employment market.

Traders did receive some clarity from the Federal Reserve this week. After its two-day policy meeting concluded Wednesday, the central bank said it will likely begin tapering the pace of its monthly bond purchases soon, but not before November, if the economy keeps improving. The Fed and other central banks have been buying bonds throughout the pandemic to help keep long-term interest rates low.

Bond yields have been headed higher the last couple of days following the Fed’s announcement. The yield on the 10-year Treasury rose to 1.46% Friday from 1.41% the day before. The yield, which influences interest rates on mortgages and other consumer loans, was at 1.31% late Monday.

“It could simply be that we had yields come down Monday and Tuesday in a flight to safety that is now being unwound,” Stovall said. “At the same time, bond investors have been given the clue, if you will, by the Fed, that tapering is right around the corner.”

Energy prices rose again Friday. The price of benchmark U.S. crude oil increased 0.9% and ended 2.9% higher for the week. The trend helped push up energy stocks. Cabot Oil & Gas rose 2.8%.

Nike was the latest company to warn investors about supply chain problems hurting revenue. Its stock slumped 6.3% for the biggest drop in the S&P 500. A wide range of industries face supply chain issues and that has investors worried about rising costs for businesses and consumers. Analysts have warned that the upcoming round of corporate earnings could be crimped because of those issues.

Worries over troubled Chinese real estate developer Evergrande are also weighing on sentiment. Some Chinese banks on Friday disclosed what they are owed by Evergrande, seeking to dispel fears of financial turmoil as it struggles under $310 billion in debt. Evergrande has said it negotiated details of an interest payment due Thursday to banks and other bondholders in China but gave no details. The company has yet to say whether it will make an $83.5 million payment that was due Thursday on a bond abroad.

Markets in Europe fell and markets in Asia were mostly lower, though Japan’s Nikkei 225 rose 2.1%.

Cryptocurrencies fell after China’s central bank declared all transactions involving virtual currencies illegal as it stepped up a campaign to block use of unofficial digital money. Bitcoin fell 4.8% to $42,525.48, according to Coindesk. Chipmaker Nvidia, which makes processors needed in crypto-mining, fell 1.8%.


----------



## bigdog

ASX 200 expected to edge higher​The Australian share market looks set to edge higher on Monday. According to the latest SPI futures, the ASX 200 is expected to open the day 2 points higher this morning. 

This follows a subdued end to the week on Wall Street, which saw the Dow Jones rise 0.1%, the S&P 500 climb 0.15%, and the Nasdaq trade flat.


----------



## bigdog

https://apnews.com/article/coronavi...shihide-suga-f6dd56f9d5ebe5481d9361b18b9cc0e7

*Stocks end mixed as losses for Big Tech weigh on market*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street’s major stock indexes ended mixed Monday as losses by technology and health care companies outweighed gains elsewhere in the market.

The S&P 500 fell 0.3% after spending much of the day essentially flat. The pullback ended a three-day winning streak for the benchmark index, which last week notched its first weekly gain in three weeks.

The tech-heavy Nasdaq composite fell 0.5%, while the Dow Jones Industrial Average managed a 0.2% gain. Small company stocks fared better than the broader market, sending the Russell 2000 index 1.5% higher.

Bond yields moved broadly higher. The 10-year Treasury yield rose to 1.49% from 1.46% late Friday. It was at 1.31% a week ago, as market jitters drove investors to shift money into bonds, which lowers their yield, but have been climbing since Tuesday.

Banks made solid gains as the 10-year Treasury yield rose. The yield influences interest rates on mortgages and other consumer loans, so when it rises it allows lenders to charge higher rates. Bank of America gained 2.7%.

“The story now is higher bond yields and what areas of the (stock) market benefit,” said Willie Delwiche, investment strategist at All Star Charts.

The S&P 500 fell 12.37 points to 4,443.11, the Nasdaq dropped 77.73 points to 14,969.97 and the Dow gained 71.37 points to 34,869.37. The Russell 2000 picked up 32.93 points to 2,281, a sign that investors are still confident about future economic growth.

Markets have had a choppy month so far and the S&P 500 is on pace to shed 1.8% in September, which would mark the first monthly loss since January. Investors have been trying to gauge just how much room the economy has to grow amid waves of COVID-19 crimping consumer spending and job growth while inflation remains a concern.

The economic recovery started strong in 2021, but analysts and economists have been tempering their forecasts for the rest of the year. In a survey being released Monday, the National Association for Business Economics found that its panel now expects full-year economic growth of 5.6%, down from a forecast for 6.7% growth in NABE’s previous survey in May. However, economists raised their forecast for 2022 economic growth to 3.5% from a previous outlook of 2.8%.

Consumer spending has been the key driver for the economic recovery and it has been crimped in part by rising cases of COVID-19 because of the highly contagious delta variant. Investors will get a glimpse into how that could continue to play out on Tuesday when The Conference Board releases its consumer confidence index for September.

Wall Street has been facing an otherwise quiet period for corporate news as companies prepare to start reporting their latest quarterly results in the next few weeks. The next round of corporate statements could give investors a better sense of the actual impact supply chain and labor disruptions are having on sales and profits.

Microsoft fell 1.7% and Apple gave back 1.1% as tech stocks helped drag down the S&P 500. The technology sector, which carries an outsized weight within the index, fell 1% overall.

Health care stocks also weighed on the market. Moderna dropped 5% and Abbot Laboratories lost 3.1%.

The price of benchmark U.S. crude oil rose 2% and supported gains for energy stocks. Exxon Mobil rose 3%.

Bank stocks have responded to the surge in bond yields. The KBW Bank Index has risen more than 9% in four days.

The exception Monday was Wells Fargo, which fell 0.8%. The bank settled its latest legal headache by agreeing to pay $37 million over allegations overcharged customers using its foreign exchange services.

The bank has been entangled in numerous scandals the past few years and is still operating under an order from the Federal Reserve that keeps Wells from growing any larger. Sen. Elizabeth Warren of Massachusetts issued a letter this month calling for Wells Fargo to be broken up, citing the bank’s inability to resolve its problems.

Markets in Europe edged higher while Asian markets were mixed.

ASX 200 expected to fall​The Australian share market is expected to fall on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 43 points or 0.6% lower. 

This follows a mixed start to the week on Wall Street. The Dow Jones rose 0.21%, the S&P 500 fell 0.28%, and the Nasdaq dropped 0.52%.


----------



## bigdog

Asian shares track broad slide on Wall St as inflation looms
					

Asian shares fell sharply on Wednesday after a broad slide on Wall Street as investors reacted to a surge in U.S. government bond yields.  Tokyo's Nikkei 225 sank 2.6% to 29,395.14 and the Kospi in Seoul dropped 2% to 3,036.86.




					apnews.com
				




*Spike in bond yields spooks investors, deflates tech stocks*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies led a broad slide in stocks on Wall Street Tuesday, deepening the market’s September swoon.

The S&P 500 fell 2%, its worst drop since May. The tech-heavy Nasdaq dropped 2.8%, its biggest drop since March. Decliners outnumbered advancers on the New York Stock Exchange 4 to 1.

The benchmark S&P 500 is down 3.8% so far this month and on pace for its first monthly loss since January. The September slump has been an exception to a mostly steady stream of gains so far this year that has brought the S&P 500 up 15.9% since the beginning of 2021.

The selling came as a swift rise in Treasury yields forces investors to reassess whether prices have run too high for stocks, particularly the most popular ones. The yield on the 10-year Treasury note, a benchmark for many kinds of loans including mortgages, jumped to 1.54%. That’s its highest level since late June and up from 1.32% a week ago.

Bond yields started rising last week after the Federal Reserve sent the clearest signals yet that the central bank is moving closer to begin withdrawing the unprecedented support it has provided for the economy throughout the pandemic. The Fed indicated it may start raising its benchmark interest rate sometime next year and will likely begin cutting back the pace of its monthly bond purchases before the end of this year.

“All of that is taking one of the weights that had been holding yields low and removing it,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute. “That clearly has a big impact on larger cap, higher growth, higher multiple stocks.”

A rise in yields means Treasurys are paying more in interest, and that gives investors less incentive to pay high prices for stocks and other things that are riskier bets than super-safe U.S. government bonds. The recent upturn in rates has hit tech stocks particularly hard because their prices look more expensive than much of the rest of the market, relative to how much profit they’re making.

Many tech stocks also got bid up recently on expectations for big profit growth far in the future. When interest rates are low, an investor isn’t losing out on much by paying high prices for the stock and waiting years for the growth to happen. But when Treasurys are paying more in the meantime, investors are less willing.

The S&P 500 fell 90.48 points to 4,352.63. The Dow Jones Industrial Average fell 569.38 points, or 1.6%, to 34,299.99. The blue-chip index briefly fell 614 points.

Small company stocks also lost ground. The Russell 2000 index dropped 51.23 points, or 2.2%, to 2,229.78.

This week’s swoon for the market is reminiscent of an episode early this year when expectations for rising inflation and a stronger economy sent Treasury yields climbing sharply. The 10-year yield jumped to nearly 1.75% in March after starting the year around 0.90%. Tech stocks also took the brunt of that downturn.

Chipmaker Nvidia fell 4.4%, Apple slid 2.4% and Microsoft fell 3.6%. The broader technology sector has also been contending with a global chip and parts shortage because of the virus pandemic and that could get more severe as a power crunch in some parts of China shuts down factories.

Communications companies also weighed down the market. Facebook and Google’s parent company, Alphabet, each fell 3.7%.

Energy was the only sector in the S&P 500 that wasn’t in the red. Exxon Mobil rose 1% and Schlumberger gained 2.4% for the biggest gain among S&P 500 stocks.

Another lingering market worry resonating from China is the possible collapse of one of China’s biggest real estate developers. Evergrande Group is struggling to avoid a default on billions of dollars of debt.

Markets in Asia were mixed while markets in Europe fell.

Investors have been dealing with a choppy market in September as they try to gauge how the economic recovery will progress and how it will impact various industries.

COVID-19 remains a lingering threat and is still taking its toll on businesses and consumers. Economic data on consumer spending and the employment market has been mixed. U.S. consumer confidence declined for the third straight month in September, according to a report from The Conference Board.

Companies are warning that supply chain problems and higher prices could crimp sales and profits. The Federal Reserve has maintained that rising inflation is temporary and tied to those supply chain problems as the economy recovers from the pandemic. Investors are still concerned that higher inflation could be more permanent and rising bond yields reflect some of those worries.

“The bottom line is that the supply chain thesis is really being tested and the Fed, businesses and consumers have had to react to some of the on-the-ground realities,” said, Eric Freedman, chief investment officer at U.S. Bank Wealth Management.

ASX 200 expected to sink again​The Australian share market is expected to drop again on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 81 points or 1.1% lower. 

This follows a very bad night on Wall Street which saw the Dow Jones fall 1.63%, the S&P 500 drop 2.04%, and the Nasdaq sink 2.83%. A spike in US bond yields due to rate hike bets spooked investors.


----------



## bigdog

Asian shares mostly gain after mixed session on Wall Street
					

Asian shares were mostly higher on Thursday after a mixed trading session on Wall Street. Tokyo’s Nikkei 225 index fell 0.4% after the release of disappointing factory and retail sales data. Shares also fell in Hong Kong but other regional benchmarks advanced.




					apnews.com
				




*S&P 500 clings to a modest gain as other indexes end mixed*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped a wobbly day of trading Wednesday with a mixed finish for the major stock indexes, as technology and communication companies weighed on the market for a second straight day.

The S&P 500 rose 0.2% after shedding most of a 0.8% gain. The modest gain came a day after the benchmark index posted its worst drop since May. The index is on pace for its first first monthly loss since January.

The Dow Jones Industrial Average also lost momentum as the day went on, but managed a 0.3% gain, while the tech-heavy Nasdaq composite gave back 0.2% after having been up 0.9% in the early going.

Bond yields stabilized after surging over the past week and weighing on the market, especially technology stocks. The higher yields have forced investors to reassess whether prices have run too high for stocks, because it makes them look expensive by comparison.

The broader market has lost ground in September, leaving the S&P 500 down 3.6% for the month with one day left to go. Investors have spent much of the month reviewing a mixed batch of economic data that showed COVID-19 and the highly contagious delta variant’s impact on consumer spending and the employment market recovery.

Wall Street is still trying to gauge just how persistent rising inflation will be as the economy works through, and eventually recovers from, the pandemic. The Fed has said that higher inflation will likely be temporary and tied to the economic recovery, but more companies have signaled that they expect higher costs to linger. Bond yields began rising last week after the central bank signaled that it could begin taking action in coming months to curtail some of the support its been providing to the economy throughout the pandemic.

“Today is a sort of a tug-of-war between which is the bigger concern: is it inflation or is it rates?” said Randy Frederick, vice president of trading & derivatives at Charles Schwab. “Today’s action tells me we don’t know.”

The S&P 500 rose 6.83 points to 4,359.46. The Dow gained 90.73 points to 34,390.72, while the Nasdaq fell 34.24 points to 14,512.44. The Russell 2000 index of small companies also fell, shedding 4.47 points, or 0.2%, to 2,225.31.

The yield on the 10-year Treasury, which is used to set interest rates on many kinds of loans, held at 1.53%.

Health care companies and a mix of companies that focus on consumer products accounted for a large share of the gains in the S&P 500. Eli Lilly rose 4% and Procter & Gamble added 1%.

Investors are still closely watching the Federal Reserve to gauge how the slowdown in economic growth will impact the speed of its plan to eventually trim the bond purchases it’s been making to helped keep interest rates low.

Wall Street also has its eye on Washington, where Democrats and Republicans in Congress are wrestling over extending the nation’s debt limit. If the limit, which caps the amount of money the federal government can borrow, isn’t raised by Oct. 18, the country “would likely face a financial crisis and economic recession,” Treasury Secretary Janet Yellen told Congress on Wednesday.

Yellen’s remarks came a day after Senate Republicans blocked consideration of a bill that would have raised the debt limit.

The standoff is beginning to worry Wall Street, Frederick said.

“I expect the market to get more volatile and possibly move lower commensurate with how close we get to that deadline,” he said.

Wall Street is also preparing for the next round of corporate earnings in the next few weeks. Investors will get a more detailed look at how supply chain problems and higher costs are impacting corporate finances.

A wide range of companies have been warning investors about the impact of inflation on costs and profits. Nike, Costco and FedEx are among those that have cited materials costs, shipping delays and labor problems as concerns.

Sherwin-Williams became the latest company to warn that higher raw materials costs will hurt profits. The stock gained 0.8% as investors took the announcement in stride, but it is still down 9.6% from its all-time high of $308.70 on Sept. 2.

Markets in Asia mostly fell while markets in Europe made gains.

ASX 200 expected to rise​The Australian share market looks set to rise on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 14 points or 0.2% higher this morning. 

This follows a mixed night of trade on Wall Street, which saw the Dow Jones rise 0.29%, the S&P 500 climb 0.16%, and the Nasdaq fall 0.24%.


----------



## bigdog

https://apnews.com/article/business-china-japan-asia-tokyo-95be57c3ffe45c7a76abc7cc3630e237

*S&P 500 fell 4.8% in September, worst month since March 2020*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks on Wall Street fell broadly Thursday, closing out September with their worst monthly loss since the beginning of the pandemic.

The S&P 500 ended the month 4.8% lower, its first monthly drop since January and the biggest since March 2020, when the viral outbreak rattled markets as it wreaked havoc with the global economy.

After climbing steadily for much of the year, the stock market became unsettled in recent weeks with the spread of the more contagious delta variant of COVID-19, a sudden spike in long-term bond yields and word that the Federal Reserve may start to unwind its support for the economy.

The S&P 500 fell 1.2% Thursday, after selling accelerated in the final hour of trading. The benchmark index is still up 14.7% for the year.

“It’s not really surprising that we’re seeing a weaker September because historically its the worst month on average,” said Jay Pestrichelli, CEO, of investment firm ZEGA Financial. “Unfortunately, there’s not a lot of information to glean for October from it.”

The S&P 500 fell 51.92 points to 4,307.54, and is now 5.1% below its all-time high set on Sept. 2. The September swoon cut into the index’s gains for the third quarter, leaving it only 0.2% higher. That’s its smallest quarterly gain since the pandemic first stunned the economy and financial markets.

The Dow Jones Industrial Average fell 546.80 points, or 1.6%, to 33,843.92, while the Nasdaq slid 63.86 points, or 0.4%, to 14,448.58. Small company stocks also lost ground. The Russell 2000 index fell 20.94 points, or 0.9%, to 2,204.37.

Bond yields edged lower. The yield on the 10-year Treasury note, a benchmark for many kinds of loans, fell to 1.50% from 1.54% from late Wednesday. It was as low as 1.32% just over a week ago.

All the sectors in the S&P 500 ended in the red Thursday, with technology stocks, banks and and a mix of companies that provide consumer goods and services accounting for much of the pullback. More than 90% of the stocks in the index fell.

The broader market stumbled through September as investors tried to get a clearer picture of the economy’s path amid inflation concerns and uncertainty about how COVID-19 will continue to impact industries and consumers. In recent weeks, economic data has revealed that the highly contagious delta variant has crimped consumer spending and the job market’s recovery.

The weak signals for economic growth continued Thursday as the Labor Department reported that unemployment applications rose for the third straight week and were higher than economists anticipated. The Commerce Department upgraded its estimate of economic growth during the second quarter to 6.7%, which was slightly better than economists expected, but they expect growth to slow to 5.5% during the third quarter.

Inflation concerns that had been weighing on the market earlier in the year returned in September as a wide range of companies issued more warnings about the impact of rising prices on their finances. Sherwin-Williams and Nike are among the many companies that have warned investors about supply chain problems, higher raw material costs and labor issues.

Inflation will likely remain the key worry hanging over the markets for the rest of the year, Pestrichelli said, and it could put the Federal Reserve in the tough position of having to raise rates earlier than anticipated.

Investors are still trying to gauge whether those issues are temporary and part of the economic recovery or could linger longer than expected. The upcoming round of corporate earnings reports could shed light on how companies are dealing with those problems.

“The jury is still out on this and we don’t really know if it’s demand-driven or supply-driven inflation,” Pestrichelli said. “If you end up getting lower growth and higher inflation, then you get stagflation and that’s no good for the market.”

Investors have also had their eyes on Washington, where Democrats and Republicans in Congress have been wrestling over extending the nation’s debt limit. On Thursday, a bill to fund the U.S. government through Dec. 3 and avoid a partial federal shutdown cleared Congress. Still, Congress’ dispute over whether to raise the government’s borrowing cap remains unresolved.

Treasury Secretary Janet Yellen has said that if the debt limit isn’t raised by Oct. 18, the United States probably will face a financial crisis and economic recession.

Several companies made outsized gains and losses following corporate news on Thursday. Virgin Galactic’s stock soared 12.1% after it was cleared to fly again following a Federal Aviation Administration inquiry. CarMax slumped 12.6% for the biggest drop in the S&P 500 after reporting disappointing fiscal second-quarter profits.

Homebuilders fell broadly following a report showing average long-term mortgage rates climbed this week above 3% for the first time since June. Mortgage rates tend to track the direction in the 10-year Treasury yield. The average rate for a 30-year mortgage rose to 3.01%, according to mortgage buyer Freddie Mac. The rate averaged 2.88% last week and a year ago.

Higher mortgage rates limit the purchasing power of homebuyers, potentially pricing out some would-be homeowners. LGI Homes fell 5.1% and PulteGroup slid 4.2%.

ASX 200 expected to tumble​The Australian share market looks set to give back a lot of yesterday’s gains on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 119 points or 1.6% lower this morning. 

This follows a disappointing night of trade on Wall Street, which saw the Dow Jones sink 1.59%, the S&P 500 fall 1.19%, and the Nasdaq drop 0.44%.


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## bigdog

https://apnews.com/article/coronavi...tock-markets-5c93b36689c1231a657056a28179ca7d

*Stocks rebound but still close out worst week since winter*

By STAN CHOE

Wall Street rebounded on Friday, led by companies that would benefit most from a healthier economy, but not by enough to keep the stock market from its worst week since the winter.

The S&P 500 rose 49.50, or 1.1%, to 4,357.04 following another choppy day of trading. It swung between a loss of 0.4% and a gain of 1.6% through the day.

The Dow Jones Industrial Average climbed 482.54 points, or 1.4%, to 34,326.46, and the Nasdaq composite gained 118.12, or 0.8%, to 14,566.70.

Merck helped pace the market and leaped 8.4% after it said its experimental pill to treat COVID-19 cut hospitalizations and deaths by half. Prospects for an additional tool to tame the pandemic helped lift shares of airlines, hotels and companies hurt by restrictions on travel and other activities.

United Airlines soared 7.9%, casino owner Caesars Entertainment swept 6.4% higher and Live Nation Entertainment jumped 8.3%.

Energy producers, financial companies and other businesses whose profits are often closely tied to the economy’s strength were also helping to lead the way.

The market’s widespread gains weren’t enough to make up for a dismal last few days. The S&P 500 still dropped to a weekly loss of 2.2%, its worst since February. A swift rise in interest rates earlier this week rattled the market and forced a reassessment of whether stocks had grown too expensive, particularly the most popular ones.

On Friday, the yield on the 10-year Treasury fell back to 1.46% from 1.52% late Thursday. That’s still well above its perch of 1.32% from a week and a half ago.

September was also the worst month for the S&P 500 since March 2020, when markets plunged as COVID-19 shutdowns took hold. Among the worries that have weighed on the market: The Federal Reserve is close to letting off the accelerator on its support for markets, economic data has recently been mixed following an upturn in COVID-19 infections, corporate tax rates may be set to rise and political turmoil continues in Washington.

There’s also high inflation still enveloping the world. Oil prices rose roughly 2% this week, approaching a seven-year high, while natural gas prices were up about 7%.

The Federal Reserve has said that it expects high inflation to be only transitory and that it’s the result of an economy roaring back to life from its earlier shutdown. But if it’s wrong, the Fed may have to raise interest rates earlier or more aggressively than it’s telegraphed to markets.

Economic reports on Friday were mixed. The nation’s manufacturing grew faster than expected last month, but an August reading for the Federal Reserve’s preferred measure for inflation was a bit higher than forecast. They follow a disappointing report on Thursday showing more people filed for unemployment benefits than expected.

Such data means “you hear the word ‘stagflation’ come up once in a while, which would be the worst outcome” said Rich Weiss, chief investment officer of multi-asset strategies at American Century Investments.

Stagflation is when economic growth stagnates but inflation remains high. Weiss doesn’t expect that to happen, so long as the pandemic doesn’t cause more global shutdowns, but he also is not positioning his investments as if he’s optimistic about big future gains for stocks.

“We’re not swinging at the pitch right now,” he said. “We are neutral.”

Weiss said the market would need to fall by about a third before he’d call stocks attractively valued based on where interest rates are now, all else equal.

Asian stock markets fell earlier in the day, despite Japan’s lifting of a pandemic state of emergency and a survey of large Japanese manufacturers showing sentiment at a nearly three-year high.

Japan’s Nikkei 225 index slumped 2.3%, and South Korea’s Kospi fell 1.6%.

European stock indexes also fell.


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## bigdog

ASX 200 expected to rebound​
The Australian share market looks set to bounce back on Monday. According to the latest SPI futures, the ASX 200 is expected to open the day 52 points or 0.7% higher this morning.

This follows a strong end to the week on Wall Street, which saw the Dow Jones rise 1.4%, the S&P 500 climb 1.15%, and the Nasdaq trade 0.8% higher.

Public holidays​Trading volumes on the ASX 200 are expected to be much lower today due to much of Australia being off work for public holidays. For several Australian states, today is Labour Day. And for Queensland, it is observing the Queen’s Birthday today.


----------



## bigdog

https://apnews.com/article/coronavi...h-china-asia-83fb863d960f24c9031436bb53ea7259

*Stocks fall as tech retreats; price of oil hits 7-year high*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies led a broad slide for stocks on Wall Street Monday, as rising bond yields and energy prices stoked investors’ concerns about higher inflation.

The S&P 500 fell 1.3%, the Dow Jones Industrial Average dropped 0.9% and the tech-heavy Nasdaq lost 2.1%.

The price of oil hit a seven-year high as OPEC and allied oil producers stuck with a plan to cautiously raise production even as global demand for crude oil increases.

Treasury yields, which moved sharply higher last week, rose again. The recent jump has contributed to weakness in technology stocks. Apple fell 2.5% and Microsoft dropped 2.1%.

Big communication companies also fell. Facebook slid 4.9% a day after a former employee told “60 Minutes” that the company has consistently chosen its own interests over the public good. The social network and its Instagram and WhatsApp platforms also suffered a worldwide outage that began around midmorning on Monday.

“What you’re seeing today is those areas — the expensive, growth technology type of areas — that had led over the past few months as interest rates remained low are now reversing as you’re seeing interest rates move higher,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors.

The S&P 500 fell 56.58 points to 4,300.46. The decline follows the benchmark index’s worst week since winter and a 4.8% pullback for September, the S&P 500′s first monthly loss since January.

The Dow Jones Industrial Average dropped 323.54 points to 34,002.92. The Nasdaq lost 311.21 points to 14,255.48.

Small company stocks also fell. The Russell 2000 index gave up 24.16 points, or 1.1%, to 2,217.47.

U.S. crude oil prices rose 2.3% and topped $77 per barrel for the first time since 2014. OPEC and allied oil producing countries on Monday decided to stay with their cautious approach to restoring oil production slashed during the pandemic, agreeing to add 400,000 barrels per day in November.

Natural gas prices jumped 2.6%. Energy companies rose along with energy prices. Devon Energy rose 5.3% for the biggest gain in the S&P 500. Marathon Oil climbed 4.1%.

The yield on the 10-year Treasury rose to 1.49% from 1.47% Friday. The yield was at 1.31% on Sept. 20. The swift rise in interest rates has forced a reassessment of whether stocks have grown too expensive, particularly already high-priced technology companies.

Investors are increasingly worried about inflation as oil prices rise and companies continue facing supply problems that increase their costs and force them to raise prices. Wall Street is also worried about the Federal Reserve’s timing on trimming back bond purchases and its eventual move to raise its benchmark interest rate.

“You really have a lot of reasons for the tape to trade defensively right now,” said Julian Emanuel, chief equity and derivatives strategist at BTIG. “If you’re not going to get the bond market rallying and yields declining, then the likelihood is you see more volatility in stocks,” he said.

Investors are also preparing for the latest round of corporate earnings, which will ramp up in the next several weeks. They are also still closely monitoring economic data for more signals about the pace of the recovery as businesses and consumers deal with the impact of COVID-19 and the highly contagious delta variant.

Wall Street will get more information on the economy’s health this week. On Tuesday, the Institute for Supply Management will release its service sector index for September. The services sector is the largest part of the economy and its health is a key factor for growth.

On Friday, the Labor Department will release its employment report for September. The employment market has been struggling to fully recover from the damage done by COVID-19 more than a year ago.

Tesla held on to a slight gain after the electric vehicle maker reported surprisingly good third-quarter deliveries. The stock rose 0.8% after having been up 4% in the early going.

In Asia, Hong Kong’s benchmark fell more than 2% after troubled property developer China Evergrande’s shares were suspended from trading. Shares in most European markets edged higher.

ASX 200 expected to fall​The Australian share market looks set to give back the majority of yesterday’s gains on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 75 points or 1.05% lower this morning. 

This follows a bad start to the week on Wall Street. In late trade, the Dow Jones has dropped 0.94%, the S&P 500 has fallen 1.3%, and the Nasdaq is tumbling 2.14%.


----------



## bigdog

https://apnews.com/article/joe-bide...atherine-tai-3730fe785d8c97feb41f4492eb13a223

*Stocks rise on Wall Street, led by tech, banks; oil near $79*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies and banks led stocks higher on Wall Street Tuesday, erasing most of the market’s losses from a broad sell-off a day earlier.

The rally, which lost some momentum in the final hour of trading, left the S&P 500 1.1% higher. About 73% of the companies in the benchmark index rose.

Technology stocks did much of the heavy lifting for the broader market, which helped drive the Nasdaq 1.3% higher, its biggest gain since Aug. 23. Chipmaker Nvidia rose 3.6% and Microsoft gained 2%.

Communications stocks also made solid gains after losing ground the day before. Netflix rose 5.2%. Utilities and real estate stocks were the only laggards in the S&P 500.

The gains mark a reversal in the market’s overall trajectory in recent weeks. The S&P 500 fell 4.8% in September, its first monthly drop since January. After steadily losing ground since it set an all-time high Sept. 2, the index slipped Tuesday below its 100-day moving average of 4,354. That sends a signal to traders that the index has reached “a good level of support for stocks to trade higher,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.

“Today’s activity is primarily in response to the weakness we’ve experienced over the last 10 days or so,” he said.

The S&P 500 rose 45.26 points to 4,345.72. The Dow Jones Industrial Average added 311.75 points, or 0.9%, to 34,314.67, and the Nasdaq gained 178.35 points to 14,433.83.

Small company stocks also notched gains. The Russell 2000 index picked up 10.89 points, or 0.5%, to 2,228.36.

Bond yields gained ground. The 10-year Treasury rose to 1.53% from 1.49% late Monday. Rising bond yields helped lift banks, which rely on higher yields to charge more lucrative interest on loans. Bank of America rose 2% and Citigroup added 1.7%.

Energy prices continued rising. U.S. oil rose 1.7% to $78.93 per barrel. Natural gas futures jumped 9.5%. Rising energy prices have been steadily pushing gasoline prices higher. The average price for a gallon of gas in the U.S. is $3.20, up more than $1 from a year ago, according to AAA.

The rise in energy prices helped lift oil company shares. Chevron rose 1.1% and Hess rose 1.6%.

A wide range of companies that focus on consumer services gained ground following an encouraging update on the services sector, which is the largest part of the U.S. economy. The Institute for Supply Management reported that the sector continued growing in September and at a faster pace than economists expected. Chipotle rose 1.4% and Carmax gained 3%.

The market has been choppy for weeks as investors try to gauge how the economy will continue its recovery with COVID-19 and the highly contagious delta variant crimping consumer spending and job growth. Inflation concerns have been driving much of the up-and-down shifts for technology companies and the broader market.

Rising inflation has been prompting businesses from Nike to Sherwin-Williams to temper sales forecasts and warn investors that higher costs will hurt financial results. Supply chain disruptions and delays, along with rising raw materials costs, are among some of the key problems facing companies as they try to continue recovering from the pandemic’s impact.

The lingering pandemic and global supply chain problems prompted the International Monetary Fund to trim its forecast for global growth this year.

Still, Wall Street is still expecting solid corporate profit growth when the third-quarter earnings season kicks off later this month. S&P 500 companies are projected to post a 27.7% increase in earnings for the July-September quarter versus a year earlier, according to FactSet.

“We’re now on the doorstep of third-quarter releases, which in our view will show earnings are growing, and that’s a basis for stocks to trend higher,” Sandven said.

Facebook rose 2.1%. The stock fell nearly 5% on Monday as the company suffered a worldwide outage and faced political fallout after a former employee told “60 Minutes” that the company has consistently chosen its own interests over the public good. The former employee, Frances Haugen, testified in front of Congress on Tuesday.

Stock markets in Europe rose, while markets in Asia were mostly lower.

ASX 200 expected to rebound​The Australian share market is expected to rebound on Wednesday. According to the latest SPI futures, the ASX 200 is poised to open the day 49 points or 0.7% higher.

This follows a very strong night of trade on Wall Street. On closing, the Dow Jones was up 0.92%, the S&P 500 up 1.05%, and the Nasdaq up 1.25%


----------



## bigdog

https://apnews.com/article/coronavi...ng-kong-asia-7877b89d475a963c4cd54f1855054adc

*Stocks edge higher as Wall Street shakes off volatility*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks recovered from an early slide on Wall Street to close with modest gains Wednesday as investors held out hope that Congress may yet be able to temporarily extend the federal government’s debt ceiling and buy lawmakers time to reach a more permanent resolution.

The market rallied back from a morning loss shortly after Senate Republican leader Mitch McConnell offered Democrats an emergency short-term extension to the federal debt ceiling into December.

Financial markets have mostly taken the debt-ceiling drama in stride, expecting yet another 11th hour solution, but some voices on Wall Street have warned investors recently to make preparations for a default, even if it is unlikely, given how extremely damaging it would be to the economy and markets.

“People were nervous about the debt ceiling,” said Jay Hatfield, CEO of Infrastructure Capital Advisors.

The S&P 500 rose 17.83 points, or 0.4%, to 4,363.55. The benchmark index had been down 1.3% earlier. Gains in technology stocks, makers of household goods and communication companies helped offset losses in energy and other sectors. About 57% of stocks in the index rose. The S&P 500 had risen or fallen more than 1% on each of the past four days.

The Dow Jones Industrial Average rose 102.32 points, or 0.3%, to 34,416.99. The blue-chip index had been down more than 450 points in the early going. The Nasdaq gained 68.08, or 0.5%, to 14,501.91. The tech-heavy index had been down 1.2% before the afternoon rally.

Small-company stocks, a gauge of confidence in economic growth, fell: The Russell 2000 index gave up 13.36 points, or 0.6%, to 2,215.

If the nation’s debt ceiling, which caps the amount of money the federal government can borrow, isn’t raised by Oct. 18, the country “would likely face a financial crisis and economic recession,” Treasury Secretary Janet Yellen told Congress last week.

During a meeting Wednesday with bank executives, President Biden stressed the importance of Congress raising the debt limit.

“We haven’t failed to do that since our inception as a country. We need to act. These leaders know the need to act.”

The Senate went into recess late Wednesday so lawmakers could discuss McConnell’s proposal, delaying a procedural vote on a House-passed bill to suspend the debt cap.

The latest bout of market volatility comes as investors question the economy’s path forward, amid rising inflation and the ongoing impact from the virus pandemic. Bond yields have remained relatively stable since a sharp jump late last month that signaled concern that high inflation could linger longer than economists and investors had initially anticipated.

Bond yields rose broadly. The yield on the 10-year Treasury held steady at 1.53%. It was as low as 1.32% a little more than two weeks ago.

Energy prices retreated from a recent rally that contributed to inflation fears. U.S. crude oil fell 1.9% and natural gas plunged 10.1%. The drop weighed on energy companies. Exxon Mobil fell 1.8%.

International markets also sold off, with exchanges in Japan, South Korea, Germany and France all dropping more than 1%.

Investors are grappling with a long list of uncertainties, and that could mean a more durable pullback in stocks than Wall Street has experienced so far this year, said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute. Inflation and the debt ceiling timeline in Washington are both key concerns, he said.

Wall Street is also still closely watching the Federal Reserve for any shift in timing for raising interest rates. Analysts have said that the central bank could act sooner than expected if high inflation persists.

“The investment case for those looking for further gains, at least this year, was the expectation that rates would stay at fairly low levels,” Samana said.

Investors will get a closer look at how companies fared in the third quarter when companies release their quarterly financial results over the coming weeks. Wall Street is expecting solid profit growth of 27% for S&P 500 companies, but will also be listening for commentary on how supply chain problems and higher costs are crimping operations.

Companies from a wide range of industries have issued warnings about supply chain problems, shipping delays and higher materials costs. Some companies are growing more concerned that the problem could stretch into the holiday shopping season that typically starts in late November. Toy companies are racing to get their products to retailers as they grapple with a severe supply chain crunch that could mean sparse shelves for the crucial holidays.

Homebuilder Hovnanian slumped 13.6% after warning investors that supply shortages will hurt its finances. Lighting maker Acuity Brands jumped 10.9% after handily beating analysts’ fiscal fourth-quarter profit forecasts.

On Friday, the Labor Department will release its anticipated employment report for September. The labor market has been slow to fully recover from the pandemic and the summer surge in COVID-19 cases further impeded its progress.

ASX 200 expected to rise​The Australian share market looks set to rise on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 10 points or 0.15% higher this morning. 

This follows a mildly positive night of trade on Wall Street, which on closing sees the Dow Jones up 0.26%, the S&P 500 up 0.15%, and the Nasdaq trading 0.47% higher.


----------



## bigdog

https://apnews.com/article/coronavi...ina-shanghai-68e784ca80ea6d0c285ef97dfc069986

*Stocks close higher as receding debt fears spur rally*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies helped lift stocks on Wall Street broadly higher Thursday as investors welcomed the end of a standoff in Congress over extending the federal debt ceiling.

An agreement to temporarily extend the government’s borrowing authority into December gives lawmakers more time to reach a permanent solution, averting for now an unprecedented federal default that experts say would have devastated the economy.

The S&P 500 rose 0.8%, its third-straight gain. Nearly 80% of stocks within the benchmark index gained ground. The Dow Jones Industrial Average rose 1%, while the tech-heavy Nasdaq closed 1.1% higher.

The debt ceiling debate and the potential for an unprecedented federal default are among many concerns that have been weighing on the market. Those worries sent the benchmark S&P 500 swinging between daily gains and losses of more than 1% for four days.

Senate leaders announced an agreement Thursday to extend the government’s borrowing authority into December. The move came a day after Senate GOP leader Mitch McConnell made an offer that paved the way for the emergency extension of the debt ceiling.

The temporary compromise between Republicans and Democrats may have also helped give investors optimism that Congress can work out compromises in other areas, said Greg Bassuk, CEO at Axs Investments.

“The fact that it actually got done, we think, frankly, that we are seeing an outsized reaction in the markets today because of the sentiment that, ‘hey, maybe some more can get done as well,’” he said.

The S&P 500 rose 36.21 points to 4,399.76. The Dow gained 337.95 points to 34,754.94, and the Nasdaq added 152.10 points to 14,654.02.

Small company stocks, a gauge of confidence in economic growth, also notched gains. The Russell 2000 index picked up 35.14 points, or 1.6%, to 2,250.09. Markets in Europe and Asia also closed broadly higher.

Technology stocks powered a big share of the S&P 500′s gains. Apple rose 0.9% and chipmaker Nvidia added 1.8%.

Automakers were big winners among consumer discretionary sector stocks. Ford Motor rose 5.5% and General Motors gained 4.7%.

Health insurers helped lift health sector companies. Humana rose 2.9%, while UnitedHealth Group added 2.7%.

Technology companies helped lift stocks on Wall Street broadly higher Thursday as investors welcomed the end of a standoff in Congress over extending the federal debt ceiling.

An agreement to temporarily extend the government’s borrowing authority into December gives lawmakers more time to reach a permanent solution, averting for now an unprecedented federal default that experts say would have devastated the economy.

The S&P 500 rose 0.8%, its third-straight gain. Nearly 80% of stocks within the benchmark index gained ground. The Dow Jones Industrial Average rose 1%, while the tech-heavy Nasdaq closed 1.1% higher.

The debt ceiling debate and the potential for an unprecedented federal default are among many concerns that have been weighing on the market. Those worries sent the benchmark S&P 500 swinging between daily gains and losses of more than 1% for four days.

Senate leaders announced an agreement Thursday to extend the government’s borrowing authority into December. The move came a day after Senate GOP leader Mitch McConnell made an offer that paved the way for the emergency extension of the debt ceiling.

The temporary compromise between Republicans and Democrats may have also helped give investors optimism that Congress can work out compromises in other areas, said Greg Bassuk, CEO at Axs Investments.

“The fact that it actually got done, we think, frankly, that we are seeing an outsized reaction in the markets today because of the sentiment that, ‘hey, maybe some more can get done as well,’” he said.

The S&P 500 rose 36.21 points to 4,399.76. The Dow gained 337.95 points to 34,754.94, and the Nasdaq added 152.10 points to 14,654.02.

Small company stocks, a gauge of confidence in economic growth, also notched gains. The Russell 2000 index picked up 35.14 points, or 1.6%, to 2,250.09. Markets in Europe and Asia also closed broadly higher.

Technology stocks powered a big share of the S&P 500′s gains. Apple rose 0.9% and chipmaker Nvidia added 1.8%.

Automakers were big winners among consumer discretionary sector stocks. Ford Motor rose 5.5% and General Motors gained 4.7%.

Health insurers helped lift health sector companies. Humana rose 2.9%, while UnitedHealth Group added 2.7%.

Cruise lines were among the market’s decliners. Norwegian Cruise Line fell 2.2% and Carnival slid 1.7%. Royal Caribbean dropped 1.4%.

Energy futures prices bounced back after the U.S. Energy Department said it is not planning on tapping oil reserves. The price of U.S. crude oil rose 1.1%.

Bond yields rose. The yield on the 10-year Treasury rose to 1.57% from 1.52% late Wednesday.

COVID-19 continues to hamper the economic recovery following a surge of cases over the summer. Consumer spending and job growth was stunted and supply chain problems crimped operations in a wide range of industries.

More positive news on fighting off future spikes of the virus came from Pfizer on Thursday. It asked U.S. regulators to allow use of its COVID-19 vaccine in children ages 5 to 11. The drug developer’s stock rose 1.7%.

Investors received another encouraging piece of news on Thursday after the Labor Department reported that the number of Americans applying for unemployment benefits fell last week for the first time in four weeks. The labor market has been struggling to recover from the pandemic’s initial impact 18 months ago when lockdowns from COVID-19 gutted jobs.

Wall Street will get another snapshot of the job market and its recovery Friday when the Labor Department releases its employment report for September. The employment market’s recovery has been closely watched for any clues on how soon the Federal Reserve will ease its unprecedented support for the markets and economy. Inflation also remains a key concern because persistently high inflation could prompt the central bank to start raising interest rates sooner than expected.

Friday’s jobs report will likely have little impact on the Fed’s plan to start trimming its bond buying and on its timeline to start raising interest rates, said Jason Pride, chief investment officer of private wealth at Glenmede. He said that a lot of the mismatch between a slowdown in employment growth and a rise in job openings is circumstantial, such as people holding off on a return to the workforce to take care of family or learning new skills to find different jobs.

“I don’t think there’s anything that the Fed does with movement in interest rates or bond buying that will change people’s decision as to when they get back to the workforce,” he said. “It’s time to start taking the foot off of the pedal.”

Wall Street could see less volatility once the Fed actually starts trimming its bond purchases, he said, because “people will get comfortable with the pace and they’ll see the markets and economy can handle it.”

ASX 200 expected to rise again​The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 44 points or 0.6% higher. 

This follows a strong night of trade on Wall Street, which on closing sees the Dow Jones up 0.
98%, the S&P 500 0.83% higher, and the Nasdaq up 1.05%.


----------



## bigdog

https://apnews.com/article/business-financial-markets-cd5ac56550e813d3030490dbc30d91ed

*Stock indexes closing lower as jobs data sparks uncertainty*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped a wobbly day of trading with a broad slide for stocks Friday, after a weak jobs report raised questions about the Federal Reserve’s timeline to pare back its immense support for markets.

The S&P 500 fell 0.2% after wavering between small gains and losses for much of the day. The modest drop snapped a three-day winning streak for the benchmark index. Even so, it managed a 0.8% gain for the week, less than half of the index’s loss last week.

The Dow Jones Industrial Average fell 8.69 points, or less than 0.1%, to 34,746.25, while the Nasdaq composite slid 74.48 points, or 0.5%, to 14,579.54.

Wall Street reacted with uncertainty and disappointment to the highly anticipated September jobs report. U.S. stocks moved up and down throughout the day, as did Treasury yields.

The yield on the 10-year Treasury climbed to 1.60% from 1.57% late Thursday after initially dropping to 1.56% immediately following the jobs report’s release.

Small company stocks fell more than the broader market. The Russell 2000 index dropped 17 points, or 0.8%, to 2,233.09.

Much of Wall Street assumed the job market had improved enough for the Fed to soon begin paring back its monthly purchases of bonds meant to hold down longer-term interest rates. Investors had also pegged the central bank to begin lifting short-term interest rates late next year. Current super-low interest rates have been one of the main forces driving stocks to record heights.

But Friday’s jobs report showed that employers added just 194,000 jobs last month, well short of the 479,000 that economists expected. Many investors still expect the Fed to stick to its timetable, but the numbers were weak enough to at least raise questions about whether it may wait longer to taper its bond purchases or to eventually raise short-term rates.

“The miss on jobs isn’t pretty — there’s no way around it,” said Mike Loewengart, managing director of investment strategy at E-Trade Financial, in a statement. “And many may believe it will cause the Fed pause in terms of their tapering strategy. But the jury is out on how the market will interpret the data.”

Underneath the surface, the numbers don’t offer much more clarity. The unemployment rate ticked down to 4.8% from 5.1%, and the government revised past months’ hiring numbers higher. But last month’s hiring was still the weakest since December 2020. Average wages also rose a bit faster from August than expected, which helps workers but adds to worries about inflation.

“It gives the Fed a little bit more wiggle room on tapering and tightening in general,” said Cliff Hodge, chief investment officer for Cornerstone Wealth.

Inflation remains a big concern for investors after climbing to its highest level in at least a decade, in part because of snarled supply chains as the global economy reboots from its pandemic-caused shutdown. Those supply chain issues will be a key point for investors as they review companies’ next round of quarterly financial reports.

“Earnings season is really going to be the next catalyst for the market to understand where to go through the end of the year,” Hodge said.

Rising energy prices have also contributed to inflation, and benchmark U.S. crude for delivery in November briefly topped $80 a barrel early Friday. That’s the highest the front-month contract for U.S. oil has been since 2014.

That helped drive energy stocks in the S&P 500 up 3.1%, by far the biggest gain among the 11 sectors that make up the index. Exxon Mobil rose 2.8%, and Pioneer Natural Resources climbed 4.6%.

Roughly three in five companies in the S&P 500 closed lower, with losses in technology and health care companies accounting for a big share of the slide. Citrix Systems fell 5.7%, while Bristol-Myers Squibb closed 3% lower. Only energy stocks and banks notched gains.

Friday’s choppy trading extends an already volatile run since the S&P 500 set its record high on Sept. 2. A swift rise in interest rates and the prospect of less support from the Fed have forced investors to reassess whether stock prices have grown too expensive. The worries about higher interest rates have also combined with political turmoil in Washington, D.C.

The S&P 500 had four straight days through Tuesday where it alternated between a gain of 1% and a loss of 1%. In recent days, the market has been more stable amid relief that Congress looks like it will at least delay a disastrous default on the U.S. federal debt.

Stock markets overseas closed unevenly Friday. In Europe, Germany’s DAX lost 0.3%, and France’s CAC 40 fell 0.6%. London’s FTSE 100 rose 0.2%.

Asian markets were stronger. Japan’s Nikkei 225 rose 1.3%, South Korea’s Kospi added 0.6% and stocks in Shanghai gained 0.7%.


----------



## bigdog

ASX 200 expected to edge lower​The Australian share market looks set to start the week on a subdued note. According to the latest SPI futures, the ASX 200 is expected to open the day 4 points or 0.05% lower this morning. 

This follows a soft end to the week on Wall Street, which saw the Dow Jones edge slightly lower, the S&P 500 fall 0.2%, and the Nasdaq drop 0.5%.


----------



## bigdog

https://apnews.com/article/coronavi...a-japan-asia-559ce7ff6f06b739214d80b811bafffc

*Stocks give up an early gain and end lower on Wall Street*

By DAMIAN J. TROISE

Stocks closed broadly lower after a day of choppy trading on Wall Street Monday as investors prepare for a busy week of corporate earnings and inflation updates.

The major indexes made early gains, but slowly fizzled as the day progressed. The S&P 500 fell 30.15 points, or 0.7%, to 4,361.19. The benchmark index gained as much as 0.6% in the early going.

The Dow Jones Industrial Average fell 250.19 points, or 0.7%, to 34,496.06 and the Nasdaq shed 93.34 points, or 0.6%, to 14,486.20.

Technology and communications stocks had some of the biggest losses. Facebook fell 1.4% and Intuit fell 1.1%.

Most sectors ended in the red. Real estate stocks, which are seen as relatively less risky, were among the few bright spots within the S&P 500.

Bond trading was closed for the Columbus Day holiday. The price of U.S. crude oil rose 1.5% to over $80 a barrel.

Investors are looking ahead to the beginning of company earnings this week. Analysts have said that the latest round of corporate results could help give the market more direction after several choppy weeks. Stocks have been swaying between between gains and losses as investors try to better gauge the direction of the economic recovery through the rest of the year.

Banks will be among the first big companies to report their latest financial results and give investors more insight into how companies are faring amid concerns over the lingering virus pandemic and rising inflation.

JPMorgan Chase delivers its results on Wednesday. Bank of America, Wells Fargo and Citigroup will report results on Thursday.

Delta Air Lines will report its latest results on Wednesday. The airline industry is still struggling to recover from the pandemic shutdowns that began 18 months ago. Investors will be closely monitoring the industry’s results to see how much of an impact the summer surge of COVID-19 cases had on the industry.

Wall Street faced a quiet day of corporate news ahead of earnings. Southwest Airlines fell 4.2% after dealing with hundreds of flight cancellations over the weekend. Toymaker Hasbro fell 1.6% after announcing that CEO Brian D. Goldner is taking a medical leave of absence.

Investors are also looking ahead to economic data this week that could shed more light on what’s going on with inflation. The Labor Department will release its Consumer Price Index on Wednesday and its Producer Price Index on Thursday. The reports detail pressure from inflation on consumers and businesses.

Companies from a wide range of industries have warned investors that supply chain problems and higher raw materials costs could crimp their financial results for the rest of the year. Wall Street is closely monitoring whether those higher costs and resulting higher prices for goods will hurt consumer spending, which is a key driver of economic growth.

Inflation will likely remain the dominant theme swirling over markets through 2021 and into 2022, said Jay Hatfield, CEO of Infrastructure Capital Advisors. The upcoming Consumer Price Index data on Wednesday is likely going to be hotter than Wall Street expects, he added.

“Right when you’re going into earnings you have this CPI bomb that could go off,” he said. “We have a demand problem and a supply problem; there are too many dollars chasing too few goods.”

ASX 200 expected to fall​The Australian share market looks set to drop on Tuesday. According to the latest SPI futures, the ASX 200 is poised to open the day 9 points or 0.1% lower this morning. 

This follows a mixed start to the week on Wall Street. On closing, the Dow Jones has dropped 0.72%, the S&P 500 has fallen 0.69%, and the Nasdaq fell 0.64%.


----------



## bigdog

Asian shares mixed after muddled day of trading on Wall St
					

Shares were mixed in Asia on Wednesday after an up-and-down day on Wall Street ended with most benchmarks lower as traders waited for updates on inflation and corporate earnings.  Tokyo's Nikkei 225 index fell 0.3% to 28,158.28 and the S&P/ASX 200 edged 0.1% lower to 7,276.80.




					apnews.com
				




*Stocks edge lower ahead of company earnings, inflation data*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed lower on Wall Street after a wobbly day of trading Tuesday as investors wait for more data on inflation and corporate earnings this week.

The major indexes wavered between small gains and losses for much of the day, before the selling gained momentum in the final minutes of trading. The S&P 500 slipped 0.2% after having been up 0.3% in the early going.

The Dow Jones Industrial Average fell 0.3% and the Nasdaq composite slipped 0.1%. Small company stocks, a gauge of confidence in economic growth, fared better than the broader market, driving the Russell 2000 index 0.6% higher.

Technology, communication and health care companies accounted for much of the losses in the S&P 500. Intel closed 2.4% lower, while AT&T slid 2.3% and Google’s parent company Alphabet dropped 1.8%. Johnson & Johnson fell 1.6%.

A mix of retailers and other companies that rely on direct consumer spending gained ground. Ford rose 3.6% and Lowe’s added 0.5%. Real estate and utilities stocks also rose.

The pullback in the S&P 500 marked the index’s third straight decline. After two days, the index’s losses have offset its 0.8% gain last week.

The selling suggests investors are worried that they will be disappointed by the upcoming third-quarter company earnings reporting season, said Sam Stovall, chief investment strategist at CFRA.

“Investors are looking at higher rates, higher inflation, higher oil prices, and thinking the worst,” Stovall said. “But when we see other factors, such as small-caps doing well or the market not really falling as much as it could, that sort of indicates to me that there is underlying strength and that investors are just waiting for a better re-entry point.”

The S&P 500 fell 10.54 points to 4,350.65. The Dow dropped 117.72 points to 34,378.34. The Nasdaq slipped 20.28 points to 14,465.92. The Russell 2000 rose 13.63 points to 2,234.27. European and Asian markets closed mostly lower.

U.S. crude oil prices closed above $80 a barrel. The yield on the 10-year Treasury fell to 1.57% from 1.60% late Friday. The bond market was closed on Monday for Columbus Day.

The broader market has been choppy for weeks. Investors are trying to figure out how the economy will continue its recovery with COVID-19 remaining a threat and rising inflation potentially crimping consumer spending and corporate finances. The latest round of earnings reports will give Wall Street a clearer picture of how companies fared in the most recent quarter amid a surge in COVID-19 cases. It will also shed some light on how they expect to perform through the rest of the year.

S&P 500 companies are expected to post 27.6% annual earnings growth for the July-September quarter, according to FactSet. That’s down from 28.1% growth estimated by analysts in July.

JPMorgan Chase will kick off earnings for banks on Wednesday. Bank of America, Wells Fargo and Citigroup will follow with their latest quarterly results on Thursday.

Investors will also be closely watching the latest updates on inflation from the Labor Department. It will release its Consumer Price Index for September on Wednesday, which is a gauge of how inflation is pressuring costs for consumers. Additional information on inflation pressures for businesses will be released on Thursday when the Labor Department releases its Producer Price Index.

A wide range of industries are feeling the pinch from rising inflation with higher costs for shipping and raw materials. Many companies have warned that their financial results could suffer because of the supply chain problems.

The supply chain crunch has also raised prices on many goods for consumers, which could hurt consumer spending and further stunt the economic recovery. Investors will get an update on consumer spending when the Commerce Department releases its retail sales report for September on Friday.

ASX 200 expected to rise​The Australian share market looks set to bounce back on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 20 points or 0.3% higher this morning. 

This is despite all the major indices on Wall Street dropping into the red. On closing, the Dow Jones was down 0.34%, the S&P 500 is down 0.24%, and the Nasdaq is trading 0.14% lower.


----------



## KevinBB

It is also interesting to note that the S&P 500 Index, on weekly basis, has now recorded 5 lower highs and 5 lower lows, not including this week. This week has not, as yet, broken last week's high.

To put this into perspective, the COVID crisis of March 2020 didn't even have 5 weeks of lower highs and lower lows.

Can we do six weeks? I don't know ... I am a reactor, and not a predictor. At this stage I am neutral SPX on the futures.

Attached chart is a weekly chart from early 2020, with the 200 period moving average.

KH


----------



## bigdog

https://www.usnews.com/news/business/articles/2021-10-13/asian-shares-mixed-after-muddled-day-of-trading-on-wall-st
		


*Modest Gain Breaks a 3-Day Losing Streak for S&P 500 Index*

Stocks ended another day of choppy trading modestly higher Wednesday, enough to break a three-day losing streak for the S&P 500.

By Associated Press

Oct. 13, 2021, at 4:51 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Major U.S. stock indexes closed mostly higher Thursday, snapping a three-day losing streak for the S&P 500 despite another choppy day of trading.

The benchmark index rose 0.3% after having been down 0.5% in the early going. It's still on pace for a 0.6% weekly loss. The Dow Jones Industrial Average ended flat, while the Nasdaq rose 0.7%.

Most of the S&P 500′s 11 sectors rose, with technology and communication accounting for a big share of the gains. A mix of companies that rely on consumer spending also helped lift the market. Financial and energy companies fell.

Investors had their eye on company earnings and inflation data. They also got more insight into the Federal Reserve's next policy moves after the central bank released the minutes from its policymakers' meeting

The minutes, which revealed Fed officials discussed how the central bank might begin to taper the unprecedented financial support it began giving the economy since the early days of the pandemic, may have helped give the market an afternoon boost after its downbeat start, said J.J. Kinahan, chief strategist with TD Ameritrade.

“You’re starting to get a framework of how they’re going to go about it, and the market is really just desperate for some clarity,” he said. "At least we’re starting to see the game plan.”

Fed officials agreed at their last meeting that if the economy continued to improve, they could start reducing their monthly bond purchases as soon as next month and bring them to an end by the middle of 2022.

The S&P 500 rose 13.15 points to 4,363.80. The Dow slipped 0.53 points, or less than 0.1%, to 34,377.81. The tech-heavy Nasdaq gained 105.71 points to 14,571.64.

Small company stocks also rose. The Russell 2000 index added 7.70 points, or 0.3%, to 2,241.97.

Banks were among the heaviest weights on the market. JPMorgan Chase fell 2.6% after its latest earnings showed that the bank struggled to grow revenues with interest rates at near-zero levels. Falling bond yields also weighed on the sector, which relies on higher yields to charge more lucrative interest on loans. American Express fell 3.5% and Capital One Financial dropped 3.3%.

The yield on the 10-year Treasury fell to 1.54% from 1.58% late Tuesday.

Delta Air Lines slid 5.8% for the biggest drop in the S&P 500 after warning investors that rising fuel prices will challenge its ability to remain profitable. It also forecast higher labor costs. United Airlines fell 3.9% and American Airlines slid 3.3%.

"Crude oil is going to continue to weigh on the transportation sector, particularly the airlines,” Kinahan said.

The latest update on inflation was mostly taken in stride. Consumer prices rose 5.4% in September from a year ago, matching the highest rate since 2008. The figure is slightly higher than economists expected. A wide range of businesses have been dealing with supply chain disruptions and delays amid rising demand for goods, and many have warned that will increase costs and crimp their financial results.

“There’s a lot of nervousness and anxiety about inflation right now," said Kristina Hooper, chief global market strategist at Invesco. “We're going to see a lot of volatility and shifts in leadership; that's just part of the transition period we're in.”

Many companies have been raising prices to offset higher shipping and raw materials costs. Analysts are concerned that higher prices could stall consumer spending, the key driver for economic growth. The latest report from the Labor Department showed that the costs of new cars, food, gas, and restaurant meals all jumped in September.

Investors will get more data on consumer spending on Friday when the Commerce Department reports retails sales for September.

More big banks are scheduled to release earnings this week. Bank of America, Wells Fargo and Citigroup will follow with their latest quarterly results on Thursday. Corporate earnings reports will ramp up after this week and analysts have said that might help show investors a clearer path ahead in what has been a choppy market.

ASX 200 expected to rebound​The Australian share market looks set to bounce back strongly on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 46 points or 0.65% higher this morning.

This follows a decent night on Wall Street, which on closing sees the Dow Jones flat , the S&P 500 up 0.30%, and the Nasdaq trading 0.73% higher.


----------



## Gunnerguy

bigdog said:


> https://www.usnews.com/news/business/articles/2021-10-13/asian-shares-mixed-after-muddled-day-of-trading-on-wall-st
> 
> 
> 
> *Modest Gain Breaks a 3-Day Losing Streak for S&P 500 Index*
> 
> Stocks ended another day of choppy trading modestly higher Wednesday, enough to break a three-day losing streak for the S&P 500.
> 
> By Associated Press
> 
> Oct. 13, 2021, at 4:51 p.m.
> 
> By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers
> 
> Major U.S. stock indexes closed mostly higher Thursday, snapping a three-day losing streak for the S&P 500 despite another choppy day of trading.
> 
> The benchmark index rose 0.3% after having been down 0.5% in the early going. It's still on pace for a 0.6% weekly loss. The Dow Jones Industrial Average ended flat, while the Nasdaq rose 0.7%.
> 
> Most of the S&P 500′s 11 sectors rose, with technology and communication accounting for a big share of the gains. A mix of companies that rely on consumer spending also helped lift the market. Financial and energy companies fell.
> 
> Investors had their eye on company earnings and inflation data. They also got more insight into the Federal Reserve's next policy moves after the central bank released the minutes from its policymakers' meeting
> 
> The minutes, which revealed Fed officials discussed how the central bank might begin to taper the unprecedented financial support it began giving the economy since the early days of the pandemic, may have helped give the market an afternoon boost after its downbeat start, said J.J. Kinahan, chief strategist with TD Ameritrade.
> 
> “You’re starting to get a framework of how they’re going to go about it, and the market is really just desperate for some clarity,” he said. "At least we’re starting to see the game plan.”
> 
> Fed officials agreed at their last meeting that if the economy continued to improve, they could start reducing their monthly bond purchases as soon as next month and bring them to an end by the middle of 2022.
> 
> The S&P 500 rose 13.15 points to 4,363.80. The Dow slipped 0.53 points, or less than 0.1%, to 34,377.81. The tech-heavy Nasdaq gained 105.71 points to 14,571.64.
> 
> Small company stocks also rose. The Russell 2000 index added 7.70 points, or 0.3%, to 2,241.97.
> 
> Banks were among the heaviest weights on the market. JPMorgan Chase fell 2.6% after its latest earnings showed that the bank struggled to grow revenues with interest rates at near-zero levels. Falling bond yields also weighed on the sector, which relies on higher yields to charge more lucrative interest on loans. American Express fell 3.5% and Capital One Financial dropped 3.3%.
> 
> The yield on the 10-year Treasury fell to 1.54% from 1.58% late Tuesday.
> 
> Delta Air Lines slid 5.8% for the biggest drop in the S&P 500 after warning investors that rising fuel prices will challenge its ability to remain profitable. It also forecast higher labor costs. United Airlines fell 3.9% and American Airlines slid 3.3%.
> 
> "Crude oil is going to continue to weigh on the transportation sector, particularly the airlines,” Kinahan said.
> 
> The latest update on inflation was mostly taken in stride. Consumer prices rose 5.4% in September from a year ago, matching the highest rate since 2008. The figure is slightly higher than economists expected. A wide range of businesses have been dealing with supply chain disruptions and delays amid rising demand for goods, and many have warned that will increase costs and crimp their financial results.
> 
> “There’s a lot of nervousness and anxiety about inflation right now," said Kristina Hooper, chief global market strategist at Invesco. “We're going to see a lot of volatility and shifts in leadership; that's just part of the transition period we're in.”
> 
> Many companies have been raising prices to offset higher shipping and raw materials costs. Analysts are concerned that higher prices could stall consumer spending, the key driver for economic growth. The latest report from the Labor Department showed that the costs of new cars, food, gas, and restaurant meals all jumped in September.
> 
> Investors will get more data on consumer spending on Friday when the Commerce Department reports retails sales for September.
> 
> More big banks are scheduled to release earnings this week. Bank of America, Wells Fargo and Citigroup will follow with their latest quarterly results on Thursday. Corporate earnings reports will ramp up after this week and analysts have said that might help show investors a clearer path ahead in what has been a choppy market.
> 
> ASX 200 expected to rebound​The Australian share market looks set to bounce back strongly on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 46 points or 0.65% higher this morning.
> 
> This follows a decent night on Wall Street, which on closing sees the Dow Jones flat , the S&P 500 up 0.30%, and the Nasdaq trading 0.73% higher.
> 
> View attachment 131500



Before @bigdog  writes his end of the (US) day briefing (which is the first thing I read every morning over a coffe and before the family gets out of bed), I’m just wondering ...... is this the start of the 1-2-3 week ‘blow off top’ ??

I guess I’ll see the commentary with my coffee in about 7 hours ...

Gunnerguy


----------



## KevinBB

Gunnerguy said:


> Before @bigdog  writes his end of the (US) day briefing (which is the first thing I read every morning over a coffe and before the family gets out of bed), I’m just wondering ...... is this the start of the 1-2-3 week ‘blow off top’ ??
> 
> I guess I’ll see the commentary with my coffee in about 7 hours ...
> 
> Gunnerguy



The S&P 500 has taken out one recent high, and is now just 50 points below the next recent high, giving us a higher low in the process. The market is still very strong going into the close, dropping only a point or two from the daily high. I guess anything could happen from here, until that next high at 4472 is taken out.

The computer is still neutral US equities, but getting ready to jump back on to the "long" bandwagon in the next day or so if this push continues.

KH


----------



## bigdog

Asian shares rise after technology-powered rally on Wall St
					

Asian shares were higher Friday after technology companies powered the biggest gain on Wall Street since March.  All major regional indexes advanced, with Tokyo gaining 1.4%.  Taiwan shares jumped 2.2% on news that computer chip maker TSMC upgraded its profit outlook.




					apnews.com
				




*US stocks rally the most since March as momentum builds*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies powered a broad rally for stocks on Wall Street Thursday, lifting the S&P 500 to its biggest gain since March.

The benchmark index rose 1.7% a day after breaking a three-day losing streak. The Dow Jones Industrial Average rose 1.6% and the tech-heavy Nasdaq climbed 1.7%.

More than 90% of stocks within the S&P 500 gained ground. Apple and Microsoft were among the big gainers in the technology sector, each rising more than 2%.

Financial and health care stocks also did well. JPMorgan Chase rose 1.5%. UnitedHealth Group rose 4.2% after the health insurer raised its profit forecast for the year following a strong third quarter.

The market’s gains came as investors welcomed another batch of encouraging quarterly report cards from several companies. Every S&P 500 company that reported earnings so far this week has exceeded Wall Street’s forecasts.

“It’s not surprising that the market has reacted pretty well to that,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab.

The S&P 500 rose 74.46 points to 4,438.26. It’s now on pace for a weekly gain. The Dow climbed 534.75 points to 34,912.56. The Nasdaq added 251.79 points to 14,823.43.

Small company stocks also notched gains. The Russell 2000 index rose 32.21 points, or 1.4%, to 2,274.18.

This is the first big week for companies reporting their most recent quarterly financial results. Investors have had mixed reactions so far to the latest round of bank earnings. Bank of America rose 4.5% Thursday after beating analysts’ forecasts. Wells Fargo also beat forecasts, but it fell 1.6% as profits from lending fell compared with a year ago.

Investors were also reviewing the latest data on jobs and inflation as they try to gauge the economy’s health and path forward.

The Labor Department said the number of Americans applying for unemployment benefits last week fell to its lowest level since the pandemic began. It’s a positive sign for a job market that is still trying to recover from the initial hit from the pandemic 18 months ago. A surge of cases over the summer stunted the recovery.

The latest report on inflation showed that businesses continue to face pressure from rising costs. The Labor Department said inflation at the wholesale level rose 8.6% in September compared to a year ago, the largest advance since the 12-month change was first calculated in 2010.

The report came a day after the government said inflation at the consumer level rose 5.4% in September from a year ago, matching the highest rate since 2008.

The market largely took the inflation reports in stride, which suggests investors may be feeling more at ease since the Federal Reserve has signaled it may begin to taper the unprecedented financial support it has been giving the economy since the early days of the pandemic and eventually begin raising its benchmark interest rate in order to combat rising inflation.

“The market is a lot more concerned about inflation than it is about interest rates going up,” Frederick said. “At this point, yes, inflation is high, but the Fed seems like its ready to raise rates to control it and the market seems to be comfortable with that.”

Rising inflation has been raising costs for consumer goods. Analysts are concerned that could affect how much people spend and slow down the economic recovery. Investors will get an update on spending Friday when the Commerce Department reports retail sales for September.
ASX 200 expected to rise again​The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 45 points or 0.6% higher. 

This follows a very strong night of trade on Wall Street, on closing sees the Dow Jones up 1.56%, the S&P 500 1.71% higher, and the Nasdaq up 1.73%.


----------



## bigdog

Stocks end higher, giving S&P 500 its best week since July
					

Wall Street added to its recent gains Friday as stocks closed higher, driving the S&P 500 to its best week since July. The S&P 500 rose 0.7% for its third straight gain and ended the week 1.8% higher.




					apnews.com
				




*Stocks end higher, giving S&P 500 its best week since July*

By STAN CHOE and ALEX VEIGA

Wall Street added to its recent gains Friday as stocks closed higher, driving the S&P 500 to its best week since July.

The S&P 500 rose 0.7% for its third straight gain and ended the week 1.8% higher. The Dow Jones Industrial Average rose 1.1% and the Nasdaq composite gained 0.5%.

The latest rally came as investors welcomed encouraging quarterly report cards from several companies. Leading the way for the S&P 500 was freight deliverer J.B. Hunt Transport Services, which jumped 8.7% after reporting stronger profits for the summer than Wall Street expected. Goldman Sachs rose 3.8% and Alcoa surged 15.2% after it beat earnings expectations and announced a dividend payment and buyback of its stock.

The positive company earnings dovetailed with a report showing people spent much more at U.S. retailers last month than Wall Street expected. Sales at stores, restaurants and other retail establishments rose 0.7% from August instead of falling, as economists forecast.

“We saw retail sales this morning come in pretty strong,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute. ”(Stocks) are still at pretty reasonable valuations with another earnings season having just ticked on, and thus far at least, some pretty good results.”

The S&P 500 rose 33.11 points to 4,471.37. The Dow gained 382.20 points to 35,294.76, and the Nasdaq rose 73.91 points to 14,897.34.

Friday’s gain follows up on a 1.7% jump for the S&P 500 Thursday, its best day since March, which was driven by stronger-than-expected earnings reports and encouraging data on the job market.

It’s a turnaround from a shaky few weeks, when the benchmark index fell as much as 5.2% from its record set on Sept. 2. Worries about stubbornly high inflation, reduced support for markets from the Federal Reserve and a slowing economy helped to knock stock prices around. The S&P 500 is back within 1.5% of its all-time high.

Earnings reporting season has just begun, but early indicators are encouraging. All but one of the 19 companies in the S&P 500 that reported quarterly results this week topped analysts’ profit forecasts. Such strength is crucial after climbing interest rates heightened worries that stock prices had grown too expensive relative to profits.

The stronger-than-expected reports on the economy also help calm chatter about “stagflation,” which is the feared marriage of a stagnating economy and high inflation.

Of course, all is not clear yet. A report on Friday showing consumer sentiment was weaker than expected amid inflation worries helped limit the market’s gains.

Still, stocks of companies whose profits are most closely tied to the strength of the economy, including retailers, automakers and travel-related businesses, led the way higher Friday. Amazon rose 3.3%, Tesla added 3% and Marriott International gained 3.1%.

Other than financial companies, which benefited from the better-than-expected profit reports from several big-name banks, industrial and health care businesses were also among the strongest gainers. Caterpillar rose 2.4%, while UnitedHealth added 1.8%.

Johnson & Johnson gained 0.7% after a Food and Drug Administration panel endorsed booster doses of the company’s single-shot COVID-19 vaccine. The panel said Friday that the booster should be offered at least two months after immunization but didn’t suggest a firm time.

Treasury yields also rose following the much stronger-than-expected report on retail sales. The yield on the 10-year note climbed to 1.57% from 1.52% late Thursday.

“The biggest surprise on rates continues to be how low they are relative to all the anecdotal evidence and all the data about inflation that we see,” Samana said.

Higher Treasury yields in recent weeks have been holding back technology and other high-growth stocks recently. When bonds are paying more in interest, investors aren’t as willing to wait as long a time for big profit growth expectations to come to fruition or to pay as high prices for them.

Tech stocks in the S&P 500 fared a little better Friday, matching the broader market with a 0.8% gain, while the communication-services sector that includes many internet companies slipped 0.1%.

Stock markets overseas also notched gains. In Europe, Germany’s DAX returned 0.8%, and France’s CAC 40 gained 0.6%. The FTSE 100 in London rose 0.4%.

In Asia, Tokyo’s Nikkei 225 added 1.8%, Hong Kong’s Hang Seng climbed 1.5% and Seoul’s Kospi advanced 0.9%.

The price of benchmark U.S. oil rose 1.2% to $82.28 per barrel, continuing a powerful run that has sent it up more than 70% this year and fanned worries about high inflation. The global benchmark for crude climbed 1%, though the price of U.S. natural gas fell 4.9%.


----------



## bigdog

ASX 200 expected to rise​
The Australian share market looks set to start the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 31 points or 0.4% higher this morning. 

This follows a strong end to the week on Wall Street, which saw the Dow Jones rise 1.1%, the S&P 500 climb 0.75%, and the Nasdaq push 0.5% higher.


----------



## bigdog

Asian stocks higher as investors watch corporate earnings
					

BEIJING (AP) — Asian stock markets followed Wall Street higher as investors waited Tuesday for U.S. corporate results to see how companies are coping with supply disruptions and the past quarter's surge in coronavirus infections.




					apnews.com
				




*Stocks end mixed on Wall Street ahead of busy earnings week*

By DAMIAN J. TROISE

Stocks wobbled to a mixed finish on Wall Street Monday as the market’s momentum slowed down following its best week since July.

The muted trading comes ahead of a busy week of corporate earnings that could help investors find a smoother path ahead for stocks after weeks of choppiness. Investors are also trying to figure out how the broader economy will continue its recovery with COVID-19 lingering as a threat, while businesses and consumers face rising inflation.

The S&P 500 rose 15.09 points, or 0.3%, to 4,486.46, with stocks roughly split between gainers and losers. The benchmark index has been choppy for weeks. It rose 1.8% last week for its best week since July, though it shed 2.2% just two weeks prior.

The Dow Jones Industrial Average fell 36.15 points, or 0.1%, to 35,258.61. The Nasdaq rose 124.47, or 0.8%, 15,021.81.

Technology stocks and companies that rely on direct consumer spending made broad gains, but were tempered by losses from health care and other companies. Chipmaker Nvidia rose 1.6% and Target rose 3.2%. Medical device company Medtronic fell 5.5%.

Energy stocks managed gains as U.S. crude oil prices bounced from small gains to losses. Prices have soared nearly 70% so far this year. Occidental Petroleum rose 4%. A mix of retailers and other companies that rely on consumer spending also rose.

The yield on the 10-year Treasury rose to 1.58% from 1.57% late Friday.

The S&P 500 is still within roughly 1.1% of its all-time high set on Sept. 2, even with the swings within the broader market. Much of the churn is due to different sectors, such as technology stocks, shifting from leading gains to leading losses on any given day.

“For now, we’re going to maintain this sort of rotational correction,” said Liz Ann Sonders, chief investment strategist at Charles Schwab. “It’s just that as each pocket goes through moments of weakness, there are pockets of strength that level it out.”

Investors are busy reviewing the latest round of corporate earnings for a better picture of how companies fared through the surge of virus cases last quarter and how many are dealing with rising inflation’s impact on costs.

A wide range of companies have warned that supply chain problems have been crimping operations and could dent their finances through the rest of the year. Wall Street is concerned that as businesses face higher costs they will pass them along to consumers and that could stymie spending and the broader economic recovery.

Health care giant Johnson & Johnson will report its latest results on Tuesday, as will streaming entertainment service Netflix. Investors will get a better sense of how airlines are recovering when several major carriers report results this week. United Airlines will report its latest results on Tuesday, with American Airlines and Southwest Airlines reporting their results on Thursday.

*ASX 200 expected to fall*
The Australian share market looks set to give back the majority of yesterday’s gains on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 22 points or 0.3% lower this morning. 

This follows a mixed night on Wall Street which on closing sees the Dow Jones down 0.1%, the S&P 500 up 0.34%, and the Nasdaq trading 0.84% higher.


----------



## bigdog

Asian stocks mixed after Wall Street rises for 5th day
					

BEIJING (AP) — Asian stock markets were mixed Wednesday after Wall Street rose for a fifth day on strong corporate earnings. Shanghai and Seoul, South Korea, fell while Tokyo and Hong Kong advanced.




					apnews.com
				




*Tech, health care stocks lead Wall Street indexes higher*

By DAMIAN J. TROISE and ALEX VEIGA

Health care and technology companies led a broad rally for stocks on Wall Street Tuesday as investors welcomed another batch of encouraging company earnings reports.

The S&P 500 rose 0.7%, driving the benchmark index to its fifth straight gain. The Dow Jones Industrial Average rose 0.6% and the tech-heavy Nasdaq rose 0.7%.

Among the tech sector winners were Apple, which rose 1.5%, and software maker Adobe, which added 2.1%. Johnson and Johnson, the world’s biggest maker of health care products, rose 2.3% after raising its profit forecast for the year following the release of strong third-quarter earnings.

“Were starting to get more earnings in for the third quarter, and so far so good,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management. “So far, the results are coming in and we haven’t had a material downgrade in outlooks.”

The S&P 500 rose 33.17 points to 4,519.63. The index is now within 0.4% of the all-time high it set Sept. 2. The Dow gained 198.70 points to 34,457.31. The Nasdaq rose 107.28 points to 15,129.09.

Small company stocks also rose. The Russell 2000 index gained 8.07 points, or 0.4%, to 2,275.91.

The broad gains for stocks follow a mixed start to the week as investors continue monitoring corporate earnings for clues as to how companies will move forward through the year as they deal with rising inflation, global supply chain delays and the economic recovery slowing down.

“There was a nervousness going in as we started to see some supply chain interruptions,” said J.J. Kinahan, chief strategist with TD Ameritrade. “But, the overall picture is still a fairly positive one.”

Those supply chain problems are going to have different impacts on companies and industries, he said, including how they absorb the costs and whether they raise prices. Procter & Gamble fell 1.2% after saying it will raise prices as it faces higher commodity and freight costs.

So far, however, rising oil prices and other costs haven’t cut in severely on company profit margins, Hainlin said.

All told, analysts polled by FactSet are now forecasting earnings growth of 30% for the S&P 500, up from 23% in June.

The first exchange-traded fund to track Bitcoin futures rose 4.7% in its market debut Tuesday. Trading was very heavy for the ProShares Bitcoin Strategy ETF, reflecting the increasing interest in cryptocurrencies.

The ProShares Bitcoin Strategy ETF offers a potentially easier way for some investors to get into the fast-growing crypto world, though it invests in futures contracts for Bitcoin rather than the currency itself. The price of Bitcoin rose 4.5%, according to CoinDesk. Its running about 1.2% below its all-time high of $64,888.99 per coin.

Bond yields moved higher. The yield on the 10-year Treasury rose to 1.64% from 1.58% late Monday.

Energy stocks gained ground as oil prices rose 0.6%. Exxon Mobil rose 1.5%. U.S. crude oil prices are up 73% for the year, while natural gas prices have risen roughly 81%. The prices have surged as the global economic recovery drives demand and it is raising concerns about a global energy crunch.

Insurance company Travelers rose 1.6% after it handily beat Wall Street’s third-quarter profit forecasts. Other large companies, including streaming entertainment giant Netflix and United Airlines, will report their results after the market closes.

Several key earnings from airlines this week will also give investors a clearer picture into the impact from a surge in COVID-19 cases over the summer. American Airlines and Southwest Airlines will report their results on Thursday.

Outside of earnings, the Commerce Department reported that U.S. home construction fell 1.6% in September as builders continue to be tripped up by supply chain bottlenecks. Shares of homebuilders were weaker. Beazer Homes fell 2.7% and Hovnanian Enterprises fell 3%.

ASX 200 poised to rise​The Australian share market looks set to bounce back on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 41 points or 0.55% higher this morning. 

This follows a solid night on Wall Street, which on closing sees the Dow Jones up 0.56%, the S&P 500 up 0.74%, and the Nasdaq trading 0.71% higher.


----------



## bigdog

https://apnews.com/article/business-asia-sydney-tokyo-europe-44fe108334b35d7d876e7965b26dddc2

*Stocks end higher, bringing S&P 500 to the cusp of a record*

By DAMIAN J. TROISE

Solid earnings from health care companies helped send stocks higher on Wall Street Wednesday and pushed the benchmark S&P 500 to the brink of another record high.

The market has been gaining ground as investors shift their focus to the latest round of corporate earnings. Stocks have been choppy for weeks as rising inflation and lackluster economic data raised concerns about the path ahead for the economic recovery.

The S&P 500 rose 16.56 points, or 0.4%, to 4,536.19. It’s the sixth straight gain for the benchmark index and puts it less than a point from the all-time high it set on Sept. 2.

The Dow Jones Industrial Average rose 152.03 points, or 0.4%, to 35,609.34. The Nasdaq fell 7.41 points, or less than 0.1%, to 15,121.68.

“The reason we’re seeing this rally over the last week is that company earnings are looking really good,” said Sylvia Jablonski, chief investment officer at Defiance ETFs. “Most companies are managing inflationary pressures and pricing issues and that’s helping to alleviate concerns about overvaluation and inflation.”

Wall Street cheered solid earnings from a variety of health care companies. Abbott Laboratories, which makes infant formula, medical devices and drugs, rose 3.3% after handily beating analysts’ third-quarter profit forecasts. Health insurer Anthem rose 7.7% after also reporting strong financial results. Technology stocks lagged the broader market.

Bond yields rose. The yield on the 10-year Treasury rose to 1.65% from 1.63% late Tuesday.

Netflix fell 2.2% after forecasting earnings for its current quarter that were below analysts’ estimates.

PayPal fell 4.9% following reports that it is considering buying digital pinboard and shopping tool Pinterest, which jumped 12.8%.

The price of Bitcoin rose above $66,000 for the first time. The gains came a day after the first exchange-traded fund linked to Bitcoin futures attracted huge interest from investors looking to get into the surging field of cryptocurrencies.

Investors are busy reviewing the latest report cards from companies as they try to get a clearer understanding of how rising inflation and the lingering threat from COVID-19 will affect the economy.

A key concern remains supply chain disruptions and rising materials costs cutting into profits for many companies. Higher costs for companies could mean higher prices for consumers, which could threaten spending that is supporting the recovery.

Oilfield services company Baker Hughes fell 5.7% after reporting weak third-quarter financial results, partly because of supply chain problems and higher costs. Brinker International, which operates Chili’s Grill & Bar, fell 9.7% after its fiscal first-quarter profit fell far short of analysts’ forecasts as it faces higher commodity and labor costs.

Investors seem to be taking the impact from rising inflation on companies in stride, said Greg Bassuk, CEO at AXS Investments.

“Without big surprises on the downside, or something really outsized, the bulls are overtaking the bears,” he said.

Rising inflation has also put a sharper focus on the Federal Reserve and its plans to start trimming bond purchases that have helped keep interest rates low. The central bank maintained through most of the year that inflation would likely be temporary and tied to the economic recovery, but it has grown more concerned about rising inflation persisting.

Railroad operator CSX gained ground in after-hours trading after reporting solid financial results, while Tesla slipped after reporting its results.

There are still several large companies on deck to release their earnings this week. American Airlines, Southwest Airlines and Union Pacific will report on Thursday.

ASX 200 expected to rise​The Australian share market looks set to rise again on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 23 points or 0.3% higher this morning. 

This follows a decent night on Wall Street, which on closing sees the Dow Jones up 0.43%, the S&P 500 up 0.37, but the Nasdaq down 0.05%. The Dow Jones hit a record high during the session.


----------



## bigdog

https://www.usnews.com/news/busines...s-mixed-after-evergrande-sale-deal-called-off

*Stocks end mostly higher, enough for S&P 500 to set record*

By DAMIAN J. TROISE and ALEX VEIGA

A wave of buying in the last hour of trading left stocks mostly higher on Wall Street, enough for the S&P 500 to beat the record high close it set in early September.

A wobbly day of trading on Wall Street left major stock indexes mostly higher Thursday, nudging the S&P 500 to an all-time high.

The benchmark index bounced back from an early slide to rise 0.3%, its seventh straight gain. The S&P 500 eclipsed the record high it set on Sept. 2 and is on pace for its third straight weekly gain.

The Nasdaq also recovered from a sluggish start, adding 0.6%. The Dow Jones Industrial Average ended barely in the red for the day, weighed down by a steep drop in IBM. The blue-chip index is just below its all-time high set on Aug. 16.

A mix of companies that rely on direct consumer spending led the gains. Tesla rose 3.3% after reporting encouraging third-quarter profits, despite parts shortages and shipping delays.

Technology and health care stocks also helped lift the market. U.S. crude oil prices fell 1.1% and weighed down energy stocks. Devon Energy fell 3% and Schlumberger fell 1.3%.

Financial companies also fell broadly. Capital One slid 4.4% and Discover Financial Services dropped 6.1%.

The uneven finish came as investors continued to review the latest company earnings reports, with global supply chain problems and the impact from rising inflation a key focus. Many companies have warned that the supply chain issues and overall higher costs will hurt operations and Wall Street is trying to gauge just how much it will sting corporate profit growth and margins.

Companies seem to be managing those higher costs and encouraging investors who had been uncertain in a very choppy market for weeks, said Sam Stovall, chief investment strategist at CFRA.

“Investors were willing to rotate rather than retreat while they waited for better news to take bigger and longer-term positions,” he said.

Wall Street is also concerned that rising inflation will force more companies to raise prices on goods, which could result in lower consumer spending and a stalled economic recovery.

The S&P 500 rose 13.59 points to 4,549.78. The Dow slipped 6.26 points, or less than 0.1%, to 35,603.08. The Nasdaq gained 94.02 points to 15,215.70.

Smaller stocks edged higher. The Russell 2000 rose 6.42 points, or 0.3%, to 2,296.18.

Several carmakers and automotive products companies made gains following Tesla’s latest earnings. Ford rose 3.2% and AutoZone rose 2.2%.

IBM slumped 9.6%, the biggest decline in the S&P 500, after reporting quarterly revenue that fell shy of analysts’ forecasts.

WeWork rose 13.5% in its second attempt to become a publicly traded company. The company, which provides shared workspaces, had a spectacular collapse during its first attempt to do so two years ago and is emerging after the pandemic closed millions of square feet of office space.

Shares in a special-purpose acquisition company, or SPAC, that is planning on taking a new media company launched by former President Donald Trump public soared after news of the venture broke late Wednesday. Digital World Acquisition vaulted 356%. The company, which went public Sept. 8, has merged with Trump Media & Technology Group, which plans to launch a social media app and streaming video service.

Bond yields moved higher. The yield on the 10-year Treasury rose to 1.69% from 1.63% late Wednesday.

European markets closed lower and Asian markets ended mixed.

Outside of earnings, investors received an encouraging update on the labor market. The Labor Department reported that the number of Americans applying for unemployment benefits fell last week to a new low point since the pandemic erupted.

ASX 200 expected to edge higher​The Australian share market looks set to end the week on a subdued note. According to the latest SPI futures, the ASX 200 is expected to open the day 2 points higher. 

This follows a mixed night of trade on Wall Street, on closing sees the Dow Jones down 0.02%, the S&P 500 up 0.3%, and the Nasdaq up 0.62%.


----------



## bigdog

https://apnews.com/article/donald-trump-business-media-1d3dddadd1efea9b306469515b900bc9

*Stock tied to Trump media venture soars in another frenzy*

By STAN CHOE

The company planning to bring President Donald Trump’s new media venture to the stock market soared further on Friday amid another frenzy of trading.

Digital World Acquisition Corp. nearly tripled in the first minute of trading before it was temporarily halted. It then gave up a chunk of those gains, but it still ended the day with a 107% gain to $94.20. In the morning, it climbed as high as $175.

A day before, the stock more than quadrupled to $45.50 from $9.96 after it said it would merge with Trump Media & Technology Group. The new venture, with Trump as its chairman, aims to challenge Facebook, Twitter and even Disney’s streaming video service.

Experts are mixed on the company’s prospects, and the deal announcing its merger with Digital World Acquisition was unusual in how few details it offered investors. The company was incorporated in February but has yet to publish an app, offer details about its financials or say how much it plans to charge for its on-demand streaming and other services. All of that could give investors pause, but not by enough to keep Digital World Acquisition Corp.’s stock from soaring.

Some investors appear to be believers in Trump’s ideology, while others see a chance for the company to quickly gain a big audience. A big chunk of investors, though, appeared simply to be grabbing for a chance at a quick profit.

Several threads on Reddit’s WallStreetBets forum, where millions of traders share their successes and failures, had users bragging about how much money they made by jumping in and out of Digital World Acquisition Corp. Others were asking if they should listen to the fear they were feeling of missing out. WallStreetBets gained fame early this year after its members helped drive GameStop and other formerly downtrodden stocks to extreme heights, levels that professional investors saw as dangerously untethered to reality.

Trading in Digital World Acquisition Corp.’s stock was so furious, and swings in its price were so sharp, that it was temporarily halted a dozen times on Friday.

Digital World Acquisition is a special-purpose acquisition company, something that’s typically called a SPAC or “blank-check” company. It’s sitting on a little less than $300 million of cash that it raised in its own initial public offering, before it went looking for a company to acquire.

SPACs can offer privately held companies a quicker and easier way to get their stocks on an exchange, by merging with them. They were wildly popular earlier this year, but activity had been receding as regulatory scrutiny on them and interest in them dimmed, at least until Wednesday’s Trump-related announcement.

Ít can be difficult for skeptical investors to bet that a SPAC’s price will fall, a move called “shorting,” said Michael Ohlrogge, an assistant professor of law at New York University who has researched SPACs. With few short sellers, that can remove a force pushing a stock’s price down, allowing it to jump even higher than it would otherwise.

“Overall, I think it’s a big difficulty because it leads to their prices being inflated,” Ohlrogge said.

All the action in Digital World Acquisition’s stock is happening before investors have even had a chance to see a proxy statement, which will give details about the merger and possibly about how Trump Media & Technology Group will operate.

The last time Trump ran a publicly traded company, it didn’t end up well for investors. His casino company, Trump Entertainment Resorts, lost hundreds of millions of dollars over more than a dozen years and filed for bankruptcy several times, socking shareholders with big losses. Trump fared better. He took in $82 million in fees, salary and bonuses over the same period, according to Fortune magazine.


----------



## bigdog

ASX 200 expected to rise​
The Australian share market looks set to have a positive start to the week. According to the latest SPI futures, the ASX 200 is expected to open the day 30 points or 0.4% higher this morning. 

This is despite a mixed ended to the week on Wall Street, which saw the Dow Jones rise 0.2%, the S&P 500 fall 0.1%, and the Nasdaq drop 0.8%.


----------



## bigdog

Asian shares mostly higher, tracking Wall Street rally
					

TOKYO (AP) — Asian shares were mostly higher Tuesday after another rally to a record high on Wall Street.  Stocks have been pushing broadly higher as companies turn in much stronger profit reports for the summer than analysts had expected.




					apnews.com
				




*Wall Street sets more records as earnings season gears up*

By DAMIAN J. TROISE and STAN CHOE

Wall Street ticked further into record heights on Monday, as a better-than-expected profit reporting season gets into higher gear.

The S&P 500 rose 21.58 points, or 0.5%, to 4,566.48 and surpassed its last record set on Thursday. The Dow Jones Industrial Average also reached an all-time high after adding 64.13, or 0.2%, to 35,741.15. The Nasdaq composite picked up 136.51, or 0.9%, to 15,226.71..

Tesla jumped to the biggest gain in the S&P 500 after Hertz said it will buy 100,000 Model 3 vehicles for its fleet. The landmark deal for the electric-vehicle industry sent Tesla up 12.7%, and because it’s one of the biggest stocks in the market, Tesla’s moves have an outsized effect on the S&P 500.

Stocks broadly have been pushing higher recently as companies turn in much stronger profit reports for the summer than analysts expected. With roughly one in four S&P 500 companies having reported, more are topping expectations than usual, and by a wider margin, according to FactSet.

S&P 500 companies so far have reported profits for the third quarter that were nearly 46% higher than year-ago levels. That has companies in the index on track to report overall growth of roughly 32.5%, according to FactSet. That compares with expectations for roughly 27% growth when the third quarter closed on Sept. 30.

Several of the market’s most influential stocks are set to report their own profits in the upcoming week. That includes Apple, Microsoft, Amazon and Google’s parent company, Alphabet. Because they’re the four biggest companies on Wall Street by market value, their stock movements have a huge effect on the S&P 500, even more than Tesla’s.

Facebook, the fifth-largest company in the S&P 500, gave its latest report after trading ended Monday. It’s been dealing with controversy over how much it favors making profits over harming its users, but its earnings nevertheless squeaked by Wall Street’s forecasts, though its revenue fell short.

High inflation that’s been more stubborn than expected also continues to create winners and losers in the market.

Stocks of energy companies were strong after the price of U.S. oil topped $85 per barrel during the morning. It’s the first time that’s happened in roughly seven years, though the price sank back as the day continued.

But such gains were checked by losses for Kimberly-Clark, the maker of Kleenex and Huggies diapers, and other consumer products companies that are struggling with the effects of high inflation.

Kimberly-Clark cut its forecast for full-year 2021 profit because of the higher costs it’s paying for energy and other goods. It’s also one of many companies dealing with snarled supply chains around the world as economies bounce back from the pandemic’s shutdown. Its stock fell 2.2%.

High inflation has stuck around, even though many economists and investors had earlier said they expected only a “transitory” bout.

Fed Chair Jerome Powell said on Friday that inflation is likely to stay elevated well into next year amid gummed-up supply chains and shortages. That could put pressure on the central bank to halt the record-low interest rates that it’s been providing to support markets and the economy.

The central bank is preparing to soon slow its monthly bond purchases meant to keep longer-term interest rates low, but a move on short-term interest rates doesn’t appear imminent.

The yield on the 10-year Treasury fell to 1.63% from 1.65% late Friday.

Historically low interest rates, along with strong corporate profit growth, have helped the S&P 500 more than double from the bottom it set in March 2020 in the early days of the pandemic.

The pandemic still remains, of course. A resurgence of infections during the summer helped to slow the economy’s growth, and some on Wall Street worry about how big a hit corporate profits will ultimately take because of it.

Moderna rose 7% after it reported encouraging data on use of its COVID-19 vaccine in children.

European and Asian stock markets ended mixed.

ASX 200 expected to rise​The Australian share market looks set to continue its ascent on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 21 points or 0.3% higher this morning. 

This follows a solid start to the week on Wall Street which on closing sees the Dow Jones up 0.18%, the S&P 500 up 0.47%, and the Nasdaq trading 0.9% higher.


----------



## bigdog

Asian stocks fall after Australia inflation accelerates
					

BEIJING (AP) — Asian stock markets fell Wednesday after Australian inflation increased, highlighting global pressure for prices to rise, while investors looked ahead to U.S. economic growth data due out this week.




					apnews.com
				




*Solid earnings nudge US stocks further into record heights*

By DAMIAN J. TROISE and ALEX VEIGA

Technology and health care companies helped push stocks higher on Wall Street Tuesday, nudging major indexes to new highs.

The S&P 500 rose 0.2% and notched its second all-time high in two days. The Dow Jones Industrial Average rose less than 0.1%, good enough for its third straight record high. The Nasdaq also edged up less than 0.1%.

Trading was choppy and lost some momentum toward the end of the day as investors continued to review mostly solid company earnings and encouraging reports on consumer confidence and new U.S. home sales.

Solid earnings reports helped lift several major companies. UPS jumped 6.9% for the biggest gain in the S&P 500 as higher shipping rates helped the package delivery service easily beat analyst’s third-quarter profit forecasts. Hasbro rose 3.2% after the maker of Transformers, My Little Pony and other toys reported solid financial results.

Stocks have been pushing broadly higher as companies turn in much stronger profit reports for the summer than analysts had expected.

“Right now, valuations are high and the market needs some reassurance from corporate earnings,” said Ernesto Ramos, chief investment officer in the U.S. for BMO Global Asset Management. “There are still plenty of risks out there, but the market is focusing on the good things right now.”

The S&P 500 rose 8.31 points to 4,574.79. The benchmark index has posted three weekly gains in a row and leads the other major indexes with a 21.8% gain this year. The Dow added 15.73 points to 35,756.88, while the Nasdaq inched up 9.01 points to 15,235.71.

Small company stocks fell. The Russell 2000 index lost 16.56 points, or 0.7%, to 2,296.08.

3Technology stocks did much of the heavy lifting for the broader market. Chipmaker Nvidia led the way with a 6.7% gain. Health care stocks and a mix of companies that rely on consumer spending for goods and services also made solid gains. UnitedHealth Group rose 1.2% and Amazon.com rose 1.7%.

Only communications and industrial stocks fell. Facebook slid 3.9% after giving investors a weak sales forecast. The company is also facing scrutiny over its seemingly lax regulation of harmful and misleading information on its platform.

Bond yields were mixed. The yield on the 10-year Treasury slipped to 1.61% from 1.63% from late Monday.

Investors received several encouraging economic updates on Tuesday. U.S. consumer confidence rose in October after three straight declines as the public’s anxiety about the delta variant of the coronavirus appear to have abated. New home sales jumped 14% in September to the fastest pace in six months as strong demand helped offset rising prices.

The broader market also welcomed signals that big spending plans in Washington and potential tax increases for companies will likely be diluted, Ramos said.

Wall Street is still concerned about how much of an impact supply chain problems will have on a wide range of industries. Many companies have already warned about higher costs cutting into operations.

Paint maker Sherwin-Williams rose 2% even though its latest results revealed that higher raw materials costs crimped its finances.

European markets ended higher, while Asian markets closed mixed.

Investors still have a busy week of corporate earnings ahead. Airplane maker Boeing and beverage company Coca-Cola will report their results on Wednesday.

General Motors and Ford will also release their results on Wednesday. The reports could help give investors a clearer picture of how the auto industry is dealing with supply chain problems, including a chip shortage that has been weighing on auto production.

Apple and Amazon will report on Thursday. The companies, along with Microsoft and Google, are the four biggest companies on Wall Street by market value and their stock movements have a huge effect on the S&P 500.

ASX 200 poised to rise​The Australian share market looks set to edge higher on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 3 points higher this morning. 

This follows a solid night on Wall Street, which on closing sees the Dow Jones up 0.4%, the S&P 500 up 0.18%, and the Nasdaq trading 0.06% higher.


----------



## bigdog

https://apnews.com/article/business...tock-markets-9a185c35dd852acbb77ac9882c1fd4de

*Stocks end lower on Wall Street, easing back from records*

By DAMIAN J. TROISE and ALEX VEIGA

Banks and health care companies helped pull stocks on Wall Street mostly lower Wednesday, as the market eased back from its latest record highs.

The S&P 500 fell 0.5% after shedding a modest gain as the selling picked up in the last hour of trading. The Dow Jones Industrial Average dropped 0.7%. Both indexes set all-time highs the day before.

The tech-heavy Nasdaq composite ended essentially flat after an early tech company rally lost steam. Treasury yields were mixed. Energy futures mostly fell.

Investors were focusing on a mixed batch of earnings from a variety of well-known companies, including Microsoft, General Motors and Coca-Cola.

“After some strong days, markets are taking a breather,” said Kristina Hooper, chief global market strategist at Invesco. “They’re certainly digesting earnings.”

The S&P 500 slipped 23.11 points to 4,551.68. More than three fourths of the companies in the benchmark index fell, with financial, health care and industrial stocks accounting for most of the decline. Those losses offset gains from communication services stocks and a mix of companies that rely on consumer spending.

The Dow fell 266.19 points, or 0.7%, to 35,490.69. Most of the blue-chip index’s stocks were in the red, led by Visa, which slumped 6.9% a day after reporting strong quarterly results.

The Nasdaq edged up 0.12 points, or less than 0.1%, to 15,235.84, and the Russell 2000 index of small companies took the heaviest losses, falling 43.58 points, or 1.9%, to 2,252.49.

Long-term bond yields fell significantly and weighed down banks, which rely on higher yields to charge more lucrative interest on loans. The yield on the 10-year Treasury fell to 1.53% from 1.61% late Tuesday. JPMorgan Chase fell 2.1%.

The yield on the 30-year Treasury fell below 2% for the first time in a month to 1.96%, even though rates on shorter-term U.S. bonds, like the 2-year Treasury note, have been rising.

Traders bid up shares in several companies that reported solid quarterly results. Microsoft rose 4.2% after reporting a 24% surge in profits last quarter as its cloud computing business bounded ahead. Google’s parent company, Alphabet, rose 5%, eclipsing its previous all-time high set Sept. 1, as a continued rebound in digital ad spending bolstered surprisingly good financial results.

A mix of companies that rely on direct consumer spending also gained ground. Domino’s Pizza rose 3.1%. McDonalds rose 2.7% after reporting solid financial results as an easing of business restrictions helped sales growth. Coca-Cola rose 1.9% as sales grew along with the reopening of many venues and businesses over the summer.

Some companies’ latest results fell short of investors’ expectations.

General Motors fell 5.4% after reporting mixed financial results as the broader auto industry continues to face production problems because of a chip shortage. And Texas Instruments slid 5% after the chipmaker’s third-quarter revenue fell short of Wall Street forecasts.

Fashion rental pioneer Rent the Runway fell 8.1% in its stock market debut after an early rally faded. The New York-based company’s offering priced at $21 and closed at $19.29 a share.

U.S. crude oil prices fell 2.4% and pushed energy stocks lower. Exxon Mobil dropped 2.6%.

The steady flow of corporate report cards will continue Thursday with industrial bellwether Caterpillar and technology giant Apple. Amazon and Starbucks will also report their results on Thursday.

Outside of earnings, investors are also awaiting the latest update on U.S. economic growth when the Commerce Department releases its report on third-quarter gross domestic product on Thursday.

Rising inflation remains a key concern for investors as they monitor earnings and the impact from supply chain problems and higher prices on businesses and consumers. Investors are also looking ahead to the Federal Reserve’s meeting next week to see how it moves forward with plans to trim bond purchases and its position on interest rates.

The central bank has maintained that inflation will prove to be “transitory” and tied to the economic recovery, though it has been more persistent than initially anticipated.

“Investors are coming to the realization that transitory could be significantly longer,” Hooper said.

Markets in Asia closed lower as a Chinese newspaper warned that more real estate developers are likely to default on bonds. Investors are watching whether one of the biggest developers, Evergrande Group, can avoid a default on 2 trillion yuan ($310 billion) of debt.

European markets mostly fell.

ASX 200 expected to fall​The Australian share market looks set to fall on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 12 points or 0.15% lower this morning. 

This follows a mixed night on Wall Street, which on closing sees the Dow Jones down 0.74%, the S&P 500 down 0.51%, but the Nasdaq with no change.


----------



## Skate

*M.I.A*
I trust @bigdog you are okay as it's highly unusual for a post to be late let alone missing. When I don't get my daily hit of news from yourself or @ducati916 my day feels incomplete.

Skate.


----------



## bigdog

I am alive and well.  

No power here and my iphone was flat yesterday

Live in Eltham North (Vic) and power expected to be back midnight Saturday.  My back fence was blown over!



			https://www.usnews.com/news/business/articles/2021-10-29/asia-shares-mixed-amid-signs-of-optimism-on-global-economy
		


*Wall Street Closes at New Highs After Day of Choppy Trading*

Stocks are ending higher Friday as Wall Street closed out a milestone-setting week.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street capped a choppy day of trading Friday with modest gains for stocks, nudging the major indexes to more all-time highs.

The latest milestones punctuated the best month for the broader market in nearly a year, as investors balanced encouraging company earnings growth against concerns over rising inflation and supply chain disruptions.

The S&P 500 rose 0.2% after wavering between small gains and losses for much of the day. That was good enough to give the benchmark index its fourth all-time high this week. The index, which fell 4.8% in September, bounced back with a 6.9% gain for October, its biggest monthly gain since November 2020. The S&P is now up 22.6% for the year.

The Dow Jones Industrial Average and Nasdaq each rose 0.3% Friday. Both also set all-time highs.

Bond yields mostly fell. The yield on the 10-year Treasury slipped to 1.55% from 1.56% late Thursday.

Investors continued to focus on corporate earnings as they look for clues for how companies are managing persistent supply chain delays and rising inflation.

“It’s been a big week of earnings," said J.J. Kinahan, chief strategist with TD Ameritrade. "Pretty much since noon Eastern we just kind of bounced back and forth, so it tells me most people are where they want to be for the end of month.”

The S&P 500 rose 8.96 points to 4,605.38. Decliners outnumbered gainers in the index. Still, gains in technology, health care and communication services stocks outweighed losses elsewhere in the market.

The Dow added 89.08 points to 35,819.56, while the Nasdaq gained 50.27 points to 15,498.39. The Russell 2000 index of small companies slipped 0.79 points, or less than 0.1%, to 2,297.19.

A wide range of companies, most recently Apple and Amazon, have flagged challenges due to rising costs or supply chain problems.

Apple fell 1.8% a day after the iPhone maker reported that its fiscal fourth-quarter revenue fell short of analysts’ forecasts because supply shortages are making it difficult to meet demand. Internet retail behemoth Amazon shed 2.2% after higher costs and supply chain problems crimped its third-quarter financial results and its revenue forecast.

The warnings from Apple and Amazon raise concerns that the economic recovery faces a bumpier road ahead through the holiday shopping season as people pay more for products and wait longer to receive everything from everyday purchases to gifts.

“It’s really impressive that the market’s been able to shake off Amazon and Apple,” Kinahan said.

The latest data from the Commerce Department shows that consumer spending grew just 0.6% in September, a cautionary sign for an economy that remains in the grip of a pandemic and a prolonged bout of high inflation.

Investors wrapped up a busy week of earnings with several large companies reporting mixed results. Starbucks fell 6.3% after reporting solid fiscal fourth-quarter profits, but weak revenue. U.S. Steel jumped 12.9% after the steel maker reported strong third-quarter financial results and raised its dividend.

Newell Brands, maker of Rubbermaid and other consumer products, rose 5.1% after reporting solid third-quarter results.

AbbVie rose 4.6%, one of the biggest gainers among health care companies in the S&P 500, after the drugmaker reported strong third-quarter financial results and raised its profit forecast for the year.

Outside of earnings, Wall Street is looking ahead to next week's meeting of the Federal Reserve as the central bank moves closer to trimming bond purchases that have helped keep interest rates low.


----------



## bigdog

ASX 200 expected to storm higher​The Australian share market looks set to have a very positive start to the week. According to the latest SPI futures, the ASX 200 is expected to open the day 68 points or 0.9% higher this morning.  

This follows a solid end to the week on Wall Street, which saw the Dow Jones rise 0.25%, the S&P 500 climb 0.2%, and the Nasdaq push 0.3% higher.


----------



## bigdog

Asian shares mixed as investors await central bank moves
					

TOKYO (AP) — Asian shares were mixed Tuesday amid cautious trading ahead of a policy meeting by the U.S. Federal Reserve.  Japan's benchmark Nikkei 225 lost 0.4% in morning trading to 29,539.78.




					apnews.com
				




*Major Wall Street stock indexes eke out more record highs*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed with modest gains on Wall Street Monday, extending the major indexes’ recent record-setting run.

The S&P 500 rose 0.2% after spending much of the day wavering between small gains and losses. The Dow Jones Industrial Average added 0.3% and the Nasdaq rose 0.6%. The gains pushed the three indexes above the all-time highs they set on Friday.

More than 65% of stocks in the S&P 500 rose, led by energy companies as the price of U.S. crude oil rose 0.6%, adding to a more than 75% gain so far this year. Exxon Mobil rose 1.8%. A mix of companies that rely on direct consumer spending for goods and services accounted for a big slice of the index’s gains. Tesla jumped 8.5% and Starbucks gained 3.5%.

Losses by technology, communication and health care companies kept the S&P 500′s gains in check. Microsoft fell 0.7%, Google parent Alphabet slid 3.1% and UnitedHealth Group dropped 1.4%.

Smaller company stocks far outpaced the broader market in a sign that investors were confident about economic growth. The Russell 2000 rose 2.7%, closing within 0.1% its all-time high set March 15.

The latest gains came as investors reviewed another batch of corporate quarterly report cards in what has so far been a better-than-expected earnings season, despite Wall Street’s concerns over the impact supply chain disruptions and higher inflation are having on companies.

“We’re starting to see corporate earnings come in and the fear was that you’d not have pricing power and you’d see that impact in margins,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management. “But so far, we’re seeing companies either do one or both of two things: be able to raise prices and have consumers pay those prices or to use technology to improve efficiency to offset some of those input prices.”

The S&P 500 index rose 8.29 points to 4,613.67. The Dow gained 94.28 points to 35,913.64. The Nasdaq added 97.53 points to 15,595.92. The Russell 2000 picked up 60.93 points to 2,358.12.

Bond yields rose and helped banks make gains, as they rely on higher yields to charge more lucrative interest rates on loans. The yield on the 10-year Treasury rose to 1.56% from 1.55% late Friday.

The broader market is coming off its best month in nearly a year, with the S&P 500 gaining 6.9% in October. The index, which stumbled in September with a 4.8% loss, is now up 22.8% for the year. Stocks have been gaining ground for weeks as investors monitored a steady flow of mostly encouraging corporate earnings.

More than half of the companies in the benchmark S&P 500 index have already reported results. Analysts expect overall profit growth of 36% by the time reporting is finished. Another 167 companies within the index will report their results this week.

Pharmaceutical giant Pfizer will report its results on Tuesday and CVS Health will report results on Wednesday.

Investors will also be watching another policy meeting by the Federal Reserve, which is in the process of considering how to wind down its extraordinary support measures for the economy. The central bank will release its latest statement on Wednesday.

Rising inflation remains a concern and will likely be persistent, but will probably moderate through the end of the year, said Rod von Lipsey, managing director at UBS Private Wealth Management. Meanwhile, investors have been shifting their focus to earnings and other fundamental measures as they move past the uncertainty of COVID-19.

“Obviously we’re waiting to see what the Fed has to say, but there’s still plenty of room and capacity for the markets to continue this recovery,” he said.

Wall Street will get several more economic updates this week.

The Institute for Supply Management will release its service sector index for October on Wednesday. That will give investors a glimpse into how the sector, which accounts for the bulk of economic activity, is recovering after the surge of COVID-19 cases over the summer.

Investors will also get another update on the employment market when the Labor Department releases its jobs report for October on Friday.

ASX 200 expected to edge lower​The Australian share market looks set to give back some of these gains on Melbourne Cup Day. According to the latest SPI futures, the ASX 200 is expected to open the day 7 points or 0.1% lower this morning. 

This follows a mixed start to the week on Wall Street which on closing sees the Dow Jones up 0.26%, the S&P 500 up 0.18%, and the Nasdaq trading 0.63% higher.


----------



## bigdog

Asian shares mostly lower despite Dow's push over 36,000
					

Shares were mostly lower in Asia on Wednesday, weighed down by concerns over disrupted supply chains and shipping, despite the Dow Jones Industrial Average’s first close above 36,000 points.  Benchmarks fell in most regional markets apart from Sydney and Taipei.




					apnews.com
				




*Stocks gain, pushing the Dow Jones industrials over 36,000 *

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street added to its recent run of milestones Tuesday as stock indexes hit new highs again and the Dow Jones Industrial Average closed above 36,000 points for the first time.

The Dow and benchmark S&P 500 each rose 0.4%. The Nasdaq gained 0.3%. The three indexes also notched all-time highs on Monday.

The gains were broad, with all but two of the 11 sectors in the S&P 500 closing higher. Technology and health care stocks helped power much of the advance. Losses in energy stocks and a mix of companies that rely on direct consumer spending tempered the market’s gains.

Trading continued to be wobbly, with the major indexes all briefly slipping into the red before recovering. The latest modest gains came ahead of more news this week from the Federal Reserve and on the jobs market. Investors were also reviewing a heavy load of corporate earnings for more clues as to how companies are faring as the economy moves past the virus pandemic.

Wall Street has been pleasantly surprised that corporate earnings reports have proven to be stronger than expected, despite worries about the impact on profits from supply disruptions and rising inflation.

“They seem to be dealing with the supply chain issue, as far as revenue and costs go, so far,” said Liz Young, chief investment strategist at SoFi. “We all expected that third-quarter earnings might be held back slightly by some of those pressures.”

The S&P 500 index extended its winning streak into a fourth day Tuesday, rising 16.98 points to 4,630.65. The Dow gained 138.79 points to 36,052.63, and the tech-heavy Nasdaq added 53.69 points to 15,649.60.

Small-company stocks also bounced back from an early pullback, nudging the Russell 2000 index to its first all-time high since March. The Russell gained 3.74 points, or 0.2%, to 2,361.86.

Technology stocks made solid gains. Cloud networking company Arista Networks surged 20.4% for the biggest gain in the S&P 500 after giving investors an encouraging financial forecast following a strong third-quarter report.

Health care stocks also rose. Prescription drug distributor McKesson gained 5.2% after raising its profit forecast. Pfizer gained 4.1% after delivering a strong profit report.

Bond yields slipped. The yield on the 10-year Treasury fell to 1.54% from 1.57% late Monday.

Crude oil prices slipped 0.2% and weighed down energy stocks. Exxon Mobil fell 1.2%.

Wall Street has been focusing on a steady flow of corporate earnings over the last few weeks. The results helped drive gains for the major indexes after a choppy summer when COVID-19 cases surged. That wave has since subsided, but rising inflation as the economy recovers remains a key concern.

Investors will be focused on the latest comments from the Federal Reserve’s latest policy meeting Wednesday, when the central bank is expected to disclose plans to ease the extraordinary support measures put in place at the beginning of the pandemic to shore up the markets and economy.

Chair Jerome Powell has signaled the Fed will announce after its policy meeting that it will start paring its $120 billion in monthly bond purchases as soon as this month. Those purchases are intended to keep long-term loan rates low to encourage borrowing and spending.

“We all know the Fed is going to unwind, what’s not known is the language around employment and how the Fed frames what success looks like,” said Robert Schein, chief investment officer at Blanke Schein Wealth Management.

The employment market recovery has been a key focus for the central bank. The job market has been improving, but it has mostly lagged the rest of the economic recovery as people are hesitant to return to work despite an abundance of job openings. Investors will get another update Friday when the Labor Department releases its jobs report for October.

The central bank’s plan to trim its bond purchases also comes as businesses and consumers contend with higher prices for raw materials and finished goods. Supply chain problems are cutting into corporate finances and prompting companies to raise prices.

Investors will get another update on services, which make up a big part of the economy, when the Institute for Supply Management releases its service sector index for October on Wednesday.


ASX 200 poised to storm higher​The Australian share market looks set to storm higher on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 75 points or 1% higher this morning. 

This follows a positive night on Wall Street, which on closing sees the Dow Jones up 0.39%, the S&P 500 up 0.37%, and the Nasdaq trading 0.34% higher.


----------



## bigdog

Asian shares rise after Fed says economic aid will wind down
					

TOKYO (AP) — Asian shares rose Thursday, boosted by the announcement from the U.S. Federal Reserve on winding down the extraordinary aid for the economy it been providing since the early days of the pandemic.




					apnews.com
				




*Stocks rise after Fed says it will dial back aid for economy*

By DAMIAN J. TROISE and ALEX VEIGA

Stock indexes on Wall Street shrugged off a downbeat start and notched more record highs Wednesday after the Federal Reserve announced plans to begin reducing the extraordinary aid for the economy it has been providing since the early days of the pandemic.

The S&P 500 rose 0.6% and the Dow Jones Industrial Average added 0.3%, both marking their fifth straight gain. The Nasdaq climbed 1%, extending its winning streak to an eighth day. All three indexes set their latest record closing highs a day earlier.

In a statement released at 2 p.m. Eastern, the Fed said it will begin reducing its $120 billion in monthly bond purchases in the coming weeks by $15 billion a month. If that pace is maintained, the Fed could be done winding down its bond purchases as early as June. At that point, the Fed could decide to begin raising its key short-term interest rate, which affects many consumer and business loans.

The central bank reserved the right to change the rate at which it reduces the bond purchases, which have been intended to hold down long-term rates and spur borrowing and spending.

The Fed’s announcement was in line with what economists and markets expected as the central bank moves to combat inflation that now looks likely to persist longer than it did just a few months ago.

“Much of the bond tapering announcement was already priced into markets and shouldn’t have come as a surprise to anyone that was paying attention to what the Fed has been indicating for most of this year,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. “But the markets are already turning their attention to how soon the Fed will begin raising interest rates and how quickly they will raise them.”

The S&P 500 rose 29.92 points to 4,660.57. The Dow gained 104.95 points to 36,157.58. The Nasdaq added 161.98 points to 15,811.58.

Bond yields rose broadly after the Fed’s statement. The yield on the 10-year Treasury note rose to 1.59% from 1.54% late Tuesday. It was trading at 1.57% shortly before the Fed released its policy statement.

The Fed’s latest statement and policy shift comes amid persistent rising inflation that has cut into corporate operations and raised prices on raw materials. It is also making finished goods more expensive, raising concerns about whether consumers will cut back on spending as prices rise.

At a news conference Wednesday, Fed Chair Jerome Powell stressed that the outlook for inflation looks highly uncertain, limiting the ability of the Fed to tailor its policies in response. He suggested that inflation should slow sometime next year as supply bottlenecks ease, but that the Fed cannot be certain that it will.

The central bank and investors have also been closely monitoring the recovery in the employment market, which has been lagging the broader economic recovery. The Labor Department will release its jobs report for October on Friday.

Stocks mostly wobbled in the early going Wednesday ahead of the Fed statement as investors looked over another big batch of earnings reports from U.S. companies.

Technology stocks and a mix of companies that rely directly on consumer spending accounted for a big slice of the S&P 500′s gains. Adobe rose 2.3% and Tesla rose 3.6% to a record high.

Energy stocks fell as U.S. crude oil prices slid 3.6%. Chevron dropped 0.7%.

Smaller-company stocks outpaced the broader market in a sign that investors were feeling confident about economic growth. The Russell 2000 climbed 42.42 points, or 1.8%, to 2,404.28, its second straight all-time high.

Agricultural equipment maker Deere fell 3.4%. Workers at the company rejected a contract offer Tuesday that would have given them 10% raises and decided to remain on strike in the hopes of securing a better deal.

Investors were handed a mixed bag of corporate report cards. Activision Blizzard slumped 14.1% for the biggest slide in the S&P 500 after the maker of video games like “World of Warcraft” gave investors a disappointing profit forecast. Zillow Group sank 23% in heavy trading a day after the real estate website operator reported disappointing financial results and said it is shutting down its home-flipping business.

CVS Health rose 5.7% after the drugstore chain and pharmacy benefits manager raised its profit forecast for the year following a strong third quarter. Mondelez International rose 1.6% after the maker of Oreo cookies reported solid third-quarter financial results.

ASX 200 expected to rise again​The Australian share market looks set to rise on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 29 points or 0.4% higher this morning. 

This follows a solid night on Wall Street, which on closing sees the Dow Jones up 0.29%, the S&P 500 up 0.65%, and the Nasdaq up 1.04%.


----------



## bigdog

Asian shares mostly lower after fresh Wall St records
					

TOKYO (AP) — Shares were mostly lower in Asia on Friday, with Chinese markets weighed down by concerns over property developers.  Benchmarks fell in Shanghai, Hong Kong, Tokyo and Seoul but rose in Sydney and Taipei.




					apnews.com
				




*Despite a mixed finish, S&P 500 and Nasdaq notch records*

By DAMIAN J. TROISE and ALEX VEIGA

Stock indexes closed out another wobbly day of trading on Wall Street with an uneven finish Thursday that includes more all-time highs for the S&P 500 and Nasdaq.

The benchmark S&P 500 rose 0.4%, extending its winning streak to a sixth day. The index has notched a succession of record-high closes, often on days when the market got off to a downbeat start.

The Nasdaq climbed 0.8%, its ninth-straight gain and latest record high for the tech-heavy index. The Dow Jones Industrial Average slipped less than 0.1%, ending the blue-chip index’s five-day winning streak.

More companies in the S&P 500 fell than rose, but gains by several big technology companies helped outweigh losses elsewhere in the market.

Despite the mixed outcome, the market’s latest milestones underscore how traders remain in a buying mood, encouraged by solid company earnings and by the Federal Reserve’s decision, at least for now, to only slowly begin dialing back policies aimed at spurring U.S. economic growth when it was in the throes of the pandemic recession.

On Wednesday, the Fed said it will begin reducing its $120 billion in monthly bond purchases in the coming weeks by $15 billion a month. The central bank could decide to raise its short-term interest rate, which affects many consumer and business loans, from near zero. Many market watchers concluded that the Fed was moving cautiously in dialing back its support, which is good news for Wall Street.

“Ninety percent of it is ultra-loose monetary policy,” said Jay Hatfield, CEO of Infrastructure Capital Advisors, on what helped push stocks to more new highs Thursday.

“The very mechanism that’s causing inflation to rise is also causing asset prices to rise, so therein lies the dilemma,” he said. “The fact that we’re not going to have a corporate tax increase is also wildly bullish.”

The S&P 500 rose 19.49 points to 4,680.06. The index is on pace for its fifth straight weekly gain. The last time that happened was during July and August of last year.

The Dow fell 33.35 points to 36,124.23, while the Nasdaq added 128.72 points to 15,940.31.

Small company stocks also gave up some ground. The Russell 2000 index slipped 1.85 points, or 0.1%, to 2,402.43.

Investors continued to focus on the latest round of corporate earnings. Chipmaker Qualcomm jumped 12.7% after it gave investors an encouraging profit forecast and reported strong quarterly results. Other chipmakers also rallied. Nvidia rose 12% and Advanced Micro Devices rose 5.3%.

A mix of companies that rely on direct consumer spending for goods and services also made solid gains. Tesla rose 1.3%, eclipsing the all-time high it set a day earlier.

Bond yields fell. The yield on the 10-year Treasury fell to 1.52% from 1.58% late Wednesday. The lower yields weighed down banks, which rely on higher yields to charge more lucrative interest on loans. Bank of America fell 2.2%.

Solid earnings and financial forecasts helped video game maker Electronic Arts gain 2.1% and Take-Two Interactive rise 4.8%.

Moderna sank 17.9% after cutting its forecast for how many vaccine deliveries it expects to make this year. Merck rose 2.1% after British authorities approved its antiviral pill.

A key concern for investors amid the latest round of earnings has been the impact of supply chain problems on corporate profits and operations. Roku is the latest company to suffer because of those disruptions and higher costs. The video streaming company fell 7.7% after giving investors a weak sales forecast and warning that supply chain problems will likely continue into 2022.

Inflation concerns will likely focus more investor attention toward how companies maintain their profit margins through the rest of the year, rather than measuring profit growth, said Liz Ann Sonders, chief investment strategist at Charles Schwab.

“The market is realizing that the tailwind of perpetually improving earnings is dissipating,” she said.

Investors received an encouraging update on the employment market’s recovery. The Labor Department reported on Thursday that the number of Americans applying for unemployment benefits fell to another pandemic low last week, another sign the job market is healing after last year’s coronavirus recession. The agency will release its more detailed jobs report for October on Friday.

ASX 200 expected to rise again​The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 23 points or 0.3% higher. 

This follows a decent night of trade on Wall Street, which on closing sees the Dow Jones down 0.09%, but the S&P 500 up 0.42% and the Nasdaq up 0.81%.


----------



## bigdog

S&P 500 sets seventh straight all-time high on Wall Street
					

NEW YORK (AP) — U.S. stocks pushed further into record heights on Friday following an encouraging report on hiring across the country, though trading was shaky as the bond market was hit with another day of sharp swings.




					apnews.com
				




*S&P 500 sets seventh straight all-time high on Wall Street*

By DAMIAN J. TROISE and STAN CHOE

U.S. stocks pushed further into record heights on Friday following an encouraging report on hiring across the country, though trading was shaky as the bond market was hit with another day of sharp swings.

The S&P 500 rose 17.47, or 0.4%, to 4,697.53 and clinched an all-time high for the seventh straight day. The Dow Jones Industrial Average gained 203.72, or 0.6%, to 36,327.95, and the Nasdaq composite added 31.28, or 0.2%, to 15,971.59.

Trading was scattershot, though, and after climbing to an early gain of 0.8%, the S&P 500 at one point gave up virtually all of it. Stocks retrenched in the middle of the day as Treasury yields surprisingly slumped. A measure of nervousness in the stock market also made a U-turn higher around the same time.

The 10-year yield, which tends to move with expectations for the economy and inflation, dropped to 1.45% and is near its lowest level since September. It was at 1.58% just two days earlier. Analysts had varying explanations for that and other sharp moves in the bond market, which some called counterintuitive.

The Dow and Nasdaq nevertheless still joined the S&P 500 in setting all-time highs. The smaller stocks in the Russell 2000 performed even better, jumping 1.4%

An encouraging report from Pfizer helped to lift the market, particularly companies that most need daily life to return to normal from the pandemic. Pfizer rose 10.9% after it said its experimental pill sharply cut rates of hospitalization and death for COVID-19 patients. Airlines, casinos, cruise lines and live-event companies had similar jumps.

The headline report of the day was the one from the Labor Department that showed employers hired a net 531,000 workers in October. That was more than 100,000 above economists’ expectations. The gains were widespread across industries, and the government also revised higher the numbers for job growth in earlier months.

One potential worry spot for markets was a big jump in workers’ wages, up 4.9% from a year earlier, which can feed into concerns about inflation. But the numbers were relatively in line with economists’ expectations.

“It was one of those Goldilocks reports,” said Nate Thooft, head of global asset allocation at Manulife Investment Management. Besides showing stronger-than-expected hiring, “the simple reality was it wasn’t showing any overheating either.”

That’s why it was surprising that the 10-year Treasury yield fell so sharply to 1.44% from 1.52% late Thursday.

One possible reason was that investors see more people heading back to work as helping to clear the supply-chain bottlenecks that have hit the economy and driven up inflation, said Brian Jacobsen, senior investment strategist at Allspring Global Investments. That could lead to lowered expectations for inflation, which would add downward pressure on Treasury yields.

“The more people we get back to fill open positions will help keep that shortage pressure at bay a little bit,” said Matt Stucky, senior portfolio manager at Northwestern Mutual Wealth Management Co.

But the degree of moves in the bond market still took market watchers by surprise.

“Some of these moves look extreme to me,” Allspring Global Investment’s Jacobsen acknowledged, citing a sharp drop for the 30-year Treasury yield to 1.88% from 1.96%. “I don’t think we can justify where yields are. It leads me to believe that this is some rather rapid repositioning by traders in the market and not necessarily a change in the trend.”

A day earlier, bond markets around the world shook after the Bank of England decided not to raise interest rates. Many investors had thought it was nearly a sure thing, and the inaction sent yields sliding.

For stocks, the trend has been solidly upward recently as a parade of companies has reported stronger profit for the summer than analysts expected. More than four out of five companies in the S&P 500 have topped forecasts, with roughly 90% of reports in hand, according to FactSet. Companies in the index appear on track to report 39% growth in their quarterly earnings per share over year-ago levels, which would be the third-fastest since 2010.

Online travel company Expedia jumped 15.6% and home-sharing company Airbnb rose 13% after they each reported stronger profits than expected.

On the losing end was exercise equipment maker Peloton Interactive. It plunged 35.3% after turning in profit and revenue that fell short of Wall Street’s expectations.

Health care stocks were also lagging the market. Moderna slumped 16.6% as it continued to fall after cutting its forecast on Thursday for vaccine deliveries in 2021.


----------



## bigdog

ASX 200 expected to rise again​ 
The Australian share market looks set to have a positive start to the week. According to the latest SPI futures, the ASX 200 is expected to open the day 22 points or 0.3% higher this morning.  

This follows a solid end to the week on Wall Street, which saw the Dow Jones rise 0.55%, the S&P 500 climb 0.4%, and the Nasdaq push 0.2% higher.


----------



## bigdog

Asian stock markets mixed after Wall St hits record again
					

BEIJING (AP) — Asian stock markets were mixed Tuesday after Wall Street rose to a record for an eighth day. Tokyo and Sydney advanced while Shanghai, Hong Kong and Seoul declined. Wall Street's benchmark S&P 500 index added 0.1% on Monday, boosted by gains for construction-related stocks after...




					apnews.com
				




*Another day, another record on Wall Street as stocks inch up*

By DAMIAN J. TROISE and STAN CHOE

Wall Street clawed its way to more records on Monday, with stock indexes creeping higher after another listless day of trading.

The S&P 500 inched up by 4.17 points, or 0.1%, to 4,701.70 after drifting between a small loss and gain through the day. It’s the eighth straight day the index has set an all-time high, tying its longest winning streak since April 2019, though most of the gains during this stretch have been only modest.

The Dow Jones Industrial Average rose 104.27, or 0.3%, to 36,432.22, and the Nasdaq composite gained 10.77, or 0.1%, to 15,982.36. They also set records, as did the smaller stocks in the Russell 2000 index, which rose 0.2%.

Stocks of construction-related companies made some of the strongest gains after Congress passed a $1 trillion infrastructure bill on Friday. Vulcan Materials, which sells crushed stone and concrete, rose 4.9%. Equipment-maker Caterpillar rose 4.1%.

More broadly, the stock market has been climbing over the last month as a wave of reports has shown corporate profits were stronger during the summer than analysts expected. That’s helped calm investors’ concerns about inflation and the Federal Reserve starting to pull back on its massive efforts to support markets and the economy.

Slightly more stocks rose in the S&P 500 than fell on Monday, with technology companies among those offsetting losses for utilities and companies that sell directly to consumers.

Advanced Micro Devices jumped 10.1% for the biggest gain in the S&P 500 after announcing that Facebook parent company Meta had chosen to use chips from AMD in its data centers. Chipmaker Nvidia rose 3.5%.

Steelmakers and other companies that stand to benefit from increased infrastructure spending also rallied following Congress’ passage of the infrastructure bill. Nucor gained 3.6%.

Friday’s deal eased some concerns over gridlock in Washington as a potential fight over raising the debt ceiling looms, according to Jamie Cox, managing partner at Harris Financial Group.

“Markets had sort of come to the conclusion that infrastructure was going to take longer,” he said. “But it looks like maybe the logjam is broken; it really reduces the chances we’ll have a fireworks-laden Christmas.”

Social networking company Nextdoor Holdings jumped 17% in its market debut via a merger with a special purpose acquisition company.

On the losing end was Tesla, which fell 4.8% after CEO Elon Musk said he would sell 10% of his holdings in the company based on the results of a poll he conducted on Twitter over the weekend.

The latest round of corporate earnings is starting to wind down, but investors still have several report cards from some big companies to review. Health care services and products company Cardinal Health will report its financial results on Tuesday and entertainment giant Walt Disney will report earnings on Wednesday.

Wall Street will also get several updates on inflation this week. Rising inflation remains a key concern as companies contend with higher raw materials costs and supply chain problems, while consumers face higher prices.

The Labor Department will release its monthly update on inflation at the wholesale level on Tuesday. The report showing what consumers are paying will come a day later. .

The yield on the 10-year Treasury rose to 1.50% from 1.45% late Friday.

ASX 200 expected to rise​ The Australian share market looks set to rebound on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 12 points or 0.15% higher this morning. 

This follows a decent start to the week on Wall Street, which on closing sees the Dow Jones up 0.29%, the S&P 500 up 0.09%, and the Nasdaq trading 0.07% higher.


----------



## bigdog

Stocks retreat in Asia as China inflation pushes higher
					

Asian shares fell Wednesday, tracking Wall Street’s retreat, with Chinese benchmarks leading the decline after the government reported a surge in inflation in October. China's consumer price index, a main measure of inflation, rose 1.5% in October, up from 0.7% the month before, the National...




					apnews.com
				




*Stocks end lower on Wall Street, ending 8-day winning streak*

By DAMIAN J. TROISE

Stocks ended moderately lower on Tuesday, ending an eight-day winning streak for the market that had been fueled by strong company earnings and economic data.

The S&P 500 index lost 16.45 points, or 0.4%, to close at 4,685.25. The last time the S&P 500 had eight straight days of gains was April 2019. The Dow Jones Industrial Average fell 112.24 points, or 0.3%, ending at 36,319.98 and the Nasdaq lost 95.81, or 0.6%, to 15,886.54.

The market was pulled lower by companies that rely on consumer spending and technology stocks, which had driven the market higher in recent days.

Tesla lost 12% after its founder Elon Musk said he would sell 10% of his holdings in the electric car maker, based on the results of a poll he conducted on Twitter. The company’s stock is down more than 16% so far this week, however the stock is still up 45% so far this year.

Meanwhile PayPal — coincidentally a company co-founded by Musk more than two decades earlier — dropped 11% after the company’s cut its full-year outlook and revenue forecasts.

PayPal is facing increased competition from other financial technology companies like Square, Affirm and even traditional banks, who have moved decisively into PayPal’s online payments kingdom.

Robinhood fell 3.4% after the popular trading app reported a data breach the day before.

Bond yields also fell Tuesday. That pulled down the stock prices of banks, which rely on higher yields to charge more lucrative interest on loans. The yield on the 10-year Treasury fell to 1.44% from 1.49% late Monday.

Bank stocks like Citigroup, Bank of America and JPMorgan Chase closed down roughly 1% or more.

One stock that did well was General Electric, which rose 2.6%. The once-unstoppable corporate behemoth that made everything from lightbulbs to nuclear reactors announced it would break itself into three separate companies.

The combination of chronic mismanagement, years of asset sales, as well as new regulations after the Great Recession made GE a shell of what it used to be. It no longer makes appliances, no longer owns NBCUniversal and spun off its financing arm, GE Capital, years before.

Sectors that are considered less risky, including household product makers and utilities, held up better than the rest of the market.

Investors received another reminder from the Labor Department that rising inflation remains persistent. The agency reported that inflation at the wholesale level rose 8.6% in October from a year earlier, matching September’s record annual gain.

A wide range of companies are facing higher costs for raw materials and energy while contending with supply chain problems. That has been cutting into their operations and prompting them to raise prices on finished goods, which in turn has been making products and services more costly for consumers.

The Labor Department will release its Consumer Price Index for October on Wednesday, giving a more detailed picture on how inflation is impacting consumers.

Inflation remains a key concern for investors, especially as the Federal Reserve moves ahead with plans to trim back, or taper, its bond purchases that have helped maintain low interest rates.

“The Fed did such a good job of telegraphing it, but there is still the mechanics of the actual tapering,” said Ross Mayfield, investment strategist at Baird.

The latest round of earnings is nearing its end, but investors still have several big corporate report cards to review. Walt Disney will report its results on Wednesday. Tapestry, the owner of Coach and other luxury brands, will report its results on Thursday.
.
ASX 200 poised to rise​The Australian share market looks set to rebound on Wednesday despite Wall Street coming under pressure overnight. According to the latest SPI futures, the ASX 200 is expected to open the day 17 points or 0.25% higher this morning. 

On Wall Street closing, the Dow Jones was down 0.31%, the S&P 500 was down 0.35%, and the Nasdaq is trading 0.6% lower.


----------



## bigdog

Asian shares mixed after US inflation report
					

TOKYO (AP) — Asian shares were mixed Thursday, after a worrisome report on U.S. inflation that slammed into the bond market and knocked stocks lower on Wall Street. In Japan, where investors are awaiting an economic stimulus package from newly elected Prime Minister Fumio Kishida, the benchmark...




					apnews.com
				




*Hot inflation report slams bond market, sends stocks lower*

By DAMIAN J. TROISE and STAN CHOE

An eye-opening report on inflation that was hotter than expected slammed into the bond market on Wednesday, sending yields jumping and helping knock stocks lower.

Prices for beef, electricity and other items that consumers paid in October surged from year-ago levels at the fastest overall pace since 1990, raising expectations that the Federal Reserve will have to hike short-term interest rates more quickly off their record low. That sent Treasury yields to their biggest gains in months.

Rising yields tend to be a drag on stocks, particularly those seen as the most expensive or whose expectations for big profit growth is furthest in the future. Drops for several high-growth tech stocks weighed on Wall Street, as did a slide in energy stocks following a decline in the price of crude oil.

The S&P 500 lost 38.54, or 0.8%, to 4,646.71 for its second straight drop. It’s coming off a strong run where it set a record high in each of the prior eight days.

The Nasdaq composite, which has more tech stocks, dropped more. It lost 263.84, or 1.7%, to 15,662.71.

Worries about inflation stoked other areas of the market. Gold rose 1% and is close to its highest price since June. Bitcoin, which some proponents see as offering similar protection from inflation as gold, likewise climbed. It touched a record of nearly $68,991, according to CoinDesk.

The center of Wall Street’s action, though, was in the bond market.

Pushed by the inflation report, investors are now pricing in a 66.5% chance that the Fed will raise rates by the end of June. A day earlier, that probability was at 50.9%.

The Fed has been keeping overnight rates at a record low of nearly zero since March 2020 to resuscitate markets and the economy from the pandemic. It has already begun to pare back on the bond purchases it makes every month to keep longer-term rates low.

The two-year Treasury yield tends to move with expectations for Fed action, and it leaped to 0.51% from 0.41% late Tuesday, a significant move.

Longer-term Treasury yields also rose, with the 10-year yield up to 1.57% from 1.43%.

In the stock market, higher yields tend to favor stocks that look cheap, or at least cheaper than their peers. These are often called “value” stocks to distinguish them from stocks of high-growth companies.

“It’s a fight between growth and value, and neither one is really getting the upper hand lately,” said Tom Martin, senior portfolio manager with Globalt Investments. “You’re going to have a decent market until year end and at some point, you’ll see folks really starting to try to position themselves for what they think 2022 could look like.”

Drops for some high-growth and tech stocks caused the heaviest weights on the market because they’re among the bigest companies by value. Nvidia, Facebook’s parent company, Google’s parent company, Apple and Microsoft all fell between 1.5% and 3.9%.

A 3.3% drop in the price of U.S. oil also helped to drag energy stocks to the biggest loss among the 11 sectors that make up the S&P 500.

But nearly two out of five stocks within the index nevertheless rose, with gains for health care stocks and others helping to limit losses for the market. Pfizer rose 3.6%.

Tesla also regained some of its lost ground from the prior two days after its CEO, Elon Musk, said that he would sell 10% of his stake in the company. It rose 4.3%, though it remains down 12.6% for the week.

Rivian Automotive, an electric truck maker backed by Amazon and Ford, glided 29.1% higher in its first day of trading.

Stocks have been rising broadly in recent weeks, powered by reports showing corporate profits were even stronger during the summer than analysts expected. Many of those reports showed that companies were able to pass on the higher prices they were paying to their customers, preserving their profitability.

DoorDash rose 11.6% after reporting stronger-than-expected revenue for its latest quarter and announcing that it is buying Finnish delivery service Wolt Enterprises, expanding its reach into Europe and other markets.

This earnings season is wrapping up, with more than 90% of S&P 500 reports already in hand. But several big names are still to come, particularly in the retail industry.

ASX 200 expected to fall again​ The Australian share market looks set to fall on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 6 points or 0.1% lower this morning. 

This follows a poor night on Wall Street, which on closing sees the Dow Jones down 0.66%, the S&P 500 down 0.82%, and the Nasdaq down 1.66%. The highest US inflation reading in 30 years appears to have spooked investors and caused a spike in bond yields.


----------



## bigdog

Asian shares open higher after modest gains on Wall St
					

Shares were mostly higher in Asia on Friday after Wall Street benchmarks managed to close mostly higher.  Stocks advanced in most major markets in early trading. In China, a major Communist Party   meeting ended with a resolution setting the stage for President Xi Jinping to remain top leader...




					apnews.com
				




*Stocks eke out small gains, still headed for weekly loss*

By DAMIAN J. TROISE

Stocks eked out small gains on Wall Street Thursday, but major indexes are still headed for a weekly loss after being tripped up by a disconcerting report on rising inflation.

The latest round of mostly solid corporate earnings has been winding down after helping the broader market rise for weeks and reach a series of records. Inflation concerns have been rattling investors throughout the week, however. The benchmark S&P 500 is on track for its first weekly loss in six weeks.

“It’s a pretty simple rule to be long during earnings and cautious outside of earnings,” said Jay Hatfield, CEO of Infrastructure Capital Advisors, “Earnings ends and then the stock market is a victim of other data, which tends to be bad.”

The S&P 500 rose 2.56 points, or 0.1%, to 4,629.27. The Dow Jones Industrial Average fell 158.71 points, or 0.4%, to 35,921.23 largely due to a steep drop in Walt Disney. The Nasdaq rose 81.58 points, or 0.5%, to 15,704.28.

Technology stocks did most of the heavy lifting for the benchmark S&P 500 and chipmakers were particularly strong. Nvidia rose 3.2% and Qualcomm rose 2.9%. Banks also made solid gains. Citigroup rose 1%.

Coach and Kate Spade owner Tapestry jumped 8.4% after reporting strong fiscal first-quarter financial results.

Smaller-company stocks outpaced the broader market in a sign that investors were confident about economic growth. The Russell 2000 rose 0.8%.

Communications companies were dragged down by Walt Disney. The entertainment company slumped 7.1% after reporting a slowdown in subscriber gains at its streaming channel and weak fiscal fourth-quarter financial results.

Beyond Meat dropped 13.3% after reporting a much wider loss than analysts were expecting.

The muted gains on Thursday follow a broad drop on Wednesday when every major index slipped over a hotter-than-expected inflation report from the Labor Department that revealed a surge in consumer prices in October. That report came on the heels of data on Tuesday that showed inflation at the wholesale level also surged in October.

The inflation concerns pushed bond yields broadly higher on Wednesday, though the bond market was closed for Veterans Day on Thursday. The yield on the 10-year Treasury stood at 1.55% as of late Wednesday.

Companies have been warning that they are being squeezed by higher raw materials costs and supply chain problems. Many have been able to pass off those higher costs to consumers, but that has raised concerns about higher prices eventually prompting a pullback in consumer spending.

The latest report on consumer prices revealed that inflation is hitting essential items such as food, rent, autos and heating oil particularly hard. Analysts worry that consumers could cut spending on discretionary items to focus on essentials, which could then crimp the broader economic recovery.

Concerns about rising inflation are also raising expectations that the Federal Reserve will have to raise short-term interest rates more quickly off their record low. The central bank has already begun to pare back on the bond purchases it makes every month to keep longer-term rates low.

“The weird thing is what’s hurting the economy is also supporting the stock market,” Hatfield said, referring to the Fed’s stimulus measures.

ASX 200 expected to rise​ The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 34 points or 0.45%. 

This follows a largely positive night of trade on Wall Street, which on closing sees the Dow Jones down 0.44%, but the S&P 500 up 0.06% and the Nasdaq up 0.52%.


----------



## bigdog

Stocks close higher, but indexes still end week in the red
					

Stocks closed higher on Wall Street on Friday, but the market still ended the week lower as inflation worries weighed on investors' moods earlier in the week. The S&P 500 index added 33.58 points, or 0.7%, to end at 4,682.85.




					apnews.com
				




*Stocks close higher, but indexes still end week in the red*

By DAMIAN J. TROISE

Stocks closed higher on Wall Street on Friday, but the market still ended the week lower as inflation worries weighed on investors’ moods earlier in the week.

The S&P 500 index added 33.58 points, or 0.7%, to end at 4,682.85. While it closed higher, the benchmark index still ended the week down 0.3%. It was the first weekly loss for the S&P 500 in six weeks.

The Dow Jones Industrial Average rose 179.08 points, or 0.5%, to 36,100.31 and the Nasdaq composite closed up 156.68 points, or 1%, to end at 15,860.96. The Dow lost 0.6% for the week and the Nasdaq lost 0.7%.

Technology stocks were among the biggest gainers on Friday, with chipmaker Micron Technology rising 3.7% and Apple rising 1.4%. Communications, industrial and health care companies also rose. Spectrum Brands, owner of Cutter bug spray and George Foreman grills, soared 10% after reporting strong quarterly earnings.

Johnson & Johnson shares rose 1.2% after the company announced it would divide itself into two separate businesses. The company would split its its Band-Aids and Listerine business from its medical device and prescription drug business. It’s the second big conglomerate to break itself up this month, after General Electric announced it would also split itself into three separate companies.

Banks and energy stocks lagged the market. Bank of America slipped 1.5%. The KBW Bank Index of the 24 largest banks closed down 0.2%.

Lordstown Motors dropped nearly 18% after giving investors a discouraging production update, with delays stretching to the third quarter of 2022. Tesla fell 2.8% after CEO Elon Musk sold another chunk of his stock on following a pledge on Twitter to liquidate 10% of his holdings in the electric car maker.

Bond yields edged higher. The yield on the 10-year Treasury rose to 1.57% from 1.55% from late Wednesday. The bond market was closed on Thursday.

The recent winning streak for stocks, which produced a series of record highs for the major indexes, came to an end as investors shifted focus from corporate earnings to rising inflation.

Investors reviewed mostly solid corporate report cards over the last several weeks. A wide range of companies showed that they were able to successfully navigate both the summer surge of COVID-19 cases and lingering supply chain problems.

Rising inflation, though, has been a lingering concern, with companies warning that higher raw materials costs and supply chain disruptions could crimp their finances. Prices have also been rising for consumer goods and essential items, raising concerns that people could pull back on spending and hurt the economic recovery.

Those inflation concerns were further stoked this week with discouraging reports on price increases for companies and consumers. On Tuesday, the Labor Department reported that inflation at the wholesale level surged to a record high in October. On Wednesday, the agency gave Wall Street a hotter-than-expected inflation report that showed consumer prices also surged, hitting their fastest overall pace since 1990.

Outside of inflation concerns, investors are also closely watching for data that could give a clearer picture of how various parts of the economy are recovering. The Labor Department on Friday released data that showed Americans quit their jobs at a record pace for the second straight month in September. The figures point to a historic level of turmoil in the job market as newly-empowered workers quit jobs to take higher pay that is being dangled by businesses in need of help.

Wall Street will get another update on spending Tuesday when the Commerce Department releases its retail sales report for October. There are still several big companies on deck to report earnings and give investors a better sense of how the retail industry is doing. Home Depot and Walmart will report their results on Tuesday and Target will report its results on Wednesday. Macy’s will report earnings on Thursday.


----------



## bigdog

ASX 200 expected to edge lower​The Australian share market looks set to have a subdued start to the week. According to the latest SPI futures, the ASX 200 is expected to open the day 3 points lower this morning. 

This is despite it being a solid end to the week on Wall Street, which saw the Dow Jones rise 0.5%, the S&P 500 climb 0.72%, and the Nasdaq storm 1% higher.


----------



## bigdog

Asian stocks rise as Biden, Xi hold video summit
					

BEIJING (AP) — Asian stock markets rose Tuesday as President Joe Biden and China's Xi Jinping held a summit meeting by video link. Market benchmarks in Shanghai, Tokyo and Hong Kong advanced. Sydney fell.




					apnews.com
				




*US stock indexes end wobbly day mostly lower on Wall Street*

By DAMIAN J. TROISE

Stocks closed mostly lower after wobbling most of Monday on Wall Street as the market comes off its first weekly loss in six weeks and investors move past the recent round of mostly solid corporate earnings.

The S&P 500 fell less than 1 point, or less than 0.1% to 4,682.80. The Dow Jones Industrial Average fell 12.86 points, or less than 0.1%, to 36,087.45. The Nasdaq fell 7.11 points, or less than 0.1%., to 15,853.85.

Trading was choppy as rising and falling sectors rotated throughout the day. Energy companies started the day weak, but gained ground by late afternoon as U.S. crude oil prices reversed from losses to a slight gain. Chevron rose 2.3%

Utilities and makers of household goods, which are considered less risky, made some of the broadest gains.

Bond yields rose. The yield on the 10-year Treasury rose to 1.63% from 1.58% late Friday.

Communications companies were mixed after bouncing up and down throughout the day. Technology and health care stocks fell, countering gains elsewhere in the market.

Investors are shifting their focus from the latest round of mostly solid corporate report cards to broader economic issues. That includes supply chain problems, rising inflation and other issues that will determine the pace and breadth of economic growth through the rest of the year and into 2022.

Smaller-company stocks fell more than the rest of the market. The Russell 2000 fell 0.4%.

“You’re going to see a lot of give and take in this market because of the uncertainty over inflation,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. “It’s going to be a much more challenging situation because people are anticipating a good holiday season, but are unsure about the catalysts for next year.”

Companies that rely on consumer spending, such as retailers, were mixed. Dollar Tree jumped 14.3% following reports that activist investor Mantle Ridge plans to push the discount retailer to take measures to increase its stock value.

Tesla continued sliding after CEO Elon Musk’s latest move to sell a chunk of his stock. The electric vehicle maker’s stock fell 1.9% on Monday and shed 15% last week.

Investors will get an update on the retail sector this week as several big retailers report their latest quarterly results. Home Depot and Walmart will report on Tuesday, followed by Target on Wednesday and Macy’s on Thursday.

Wall Street will also get a broader view on spending trends when the Commerce Department releases its retail sales report on Tuesday.

Investors will be watching for any signs that inflation is crimping business operations or consumer spending. Businesses have had to raise prices on a variety of goods to offset higher raw materials costs and are facing a wide range of supply chain problems. Consumers have so far taken price increases in stride, but analysts are concerned that they could start to pull back on spending because of the persistently rising inflation.

Discouraging reports on inflation from the Labor Department last week tripped up the broader market and sent major indexes to their first weekly loss in six weeks.

Elsewhere in the market Monday, buyout news helped lift several companies.

E-commerce mattress maker Casper surged 88.5% following news that is being acquired and taken private for about $308 million, less than a year after its public debut. Data center owners and operators CyrusOne rose 4.7% and and CoreSite rose 3.6% after announcing deals.

ASX 200 expected to fall​ The Australian share market looks set to give back yesterday’s gains on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 32 points or 0.4% lower this morning. 

This follows a poor start to the week on Wall Street, which on closing sees the stocks closed mostly lower after wobbling most of Monday on Wall Street as the market comes off its first weekly loss in six weeks and investors move past the recent round of mostly solid corporate earnings.


----------



## bigdog

Asian shares slip despite Wall St gains after Biden-Xi talks
					

TOKYO (AP) — Asian shares slipped Wednesday despite a rally on Wall Street. In Japan, the benchmark reversed earlier gains that had come on the yen trading lower recently, boosting the profits of exporters.




					apnews.com
				




*Stocks rise on Wall Street after retail sales post big gain*

By DAMIAN J. TROISE

Stocks closed higher on Wall Street Tuesday as investors reviewed solid earnings reports from big retailers and a surprisingly strong report on consumer spending.

The government reported that Americans largely shrugged off higher prices last month and stepped up their spending at retail stores and online. The Commerce Department said retail sales rose 1.7% in October. That’s the biggest gain since March and up from 0.8% in the previous month.

“It reiterates the strength of the U.S. consumer, but you have to wonder a bit as inflation expectations rise, are people rushing to get in front of that,” said Mike Stritch, chief investment officer at BMO Wealth Management.

The S&P 500 index rose 18.10 points, or 0.4%, to 4,700.90 and is sitting just below the record it set on Nov. 8. The Dow Jones Industrial Average rose 54.77 points, or 0.2%, to 36,142.22. The Nasdaq rose 120.01 points, or 0.8%, to 15,973.86.

Technology stocks did much of the heavy lifting for the benchmark S&P 500, which had slightly more gainers than losers. Chipmaker Qualcomm rose 7.9%.

A wide range of companies that rely on consumer spending made solid gains. Home Depot rose 5.7% after the home improvement retailer reported surging sales and solid profits in the third quarter amid a hot housing market. The results also lifted competitor Lowe’s by 4.2%.

Several companies that depend on consumer spending rose. Online crafts marketplace Etsy rose 5.1%. Nike rose 1.8% while Coach and Kate Spade parent Tapestry gained 1.5%.

The nation’s largest retailer, Walmart, also reported solid financial results while raising its profit forecast, but the stock fell 2.5% and gave back some of the big gains it’s made in the last few weeks.

Several other large retailers will release their latest financial results this week. Target reports its results on Wednesday and Macy’s reports results on Thursday.

Health care companies also rose. Communications companies and a makers of household goods and other consumer staples lagged the market.

Bond yields edged higher. The yield on the 10-year Treasury rose to 1.64% from 1.62% late Monday.

Investors received another encouraging economic update from the Federal Reserve, which said industrial production rebounded in October with a 1.6% gain. The gain followed a 1.3% plunge in September.

Wall Street is closely monitoring the latest economic reports for more clues as to how businesses and consumers are dealing with rising inflation. Companies have been raising prices as they face higher raw materials costs and supply chain problems. Consumers have been willing to pay the higher prices on many goods, though analysts are concerned that consumers could eventually pull back on spending because of inflation.

Heightened concerns over inflation tripped up the broader market last week following a strong run that lasted several weeks as companies reported mostly solid earnings. The latest round of earnings is nearing its finish and the market has very few singular events or economic reports to focus on through the end of the year.

“That inflation story is going to be big for the next six months and we’re going to have a lot of stops and starts on that as it evolves,” Stritch said.

ASX 200 expected to bounce back​ 
The Australian share market looks set to rebound on Wednesday after Wall Street charged higher. According to the latest SPI futures, the ASX 200 is expected to open the day 37 points or 0.5% higher this morning. 

On closing in the United States, the Dow Jones is up 0.15%, the S&P 500 is up 0.39%, and the Nasdaq is trading 0.76% higher.


----------



## bigdog

*My apologies for being late*









						Asian shares mostly decline after US stocks shuffle lower
					

TOKYO (AP) — Asian shares mostly declined Thursday after stock indexes shuffled lower on Wall Street.  Japan's benchmark Nikkei 225 dipped 0.7% to 29,490.53 in early trading. Australia's S&P/ASX 200 edged up 0.2% to 7,381.40, while South Korea's Kospi slipped 0.6% to 2,944.52.




					apnews.com
				




*US stocks shuffle lower, pulling indexes further from highs*

By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — Stock indexes shuflfed lower on Wall Street Wednesday, pulling a bit further off their record heights.

The S&P 500 fell 12.23 points, or 0.3%, to 4,688.67 after earlier drifting between a tiny gain and a 0.4% decline. It’s sitting just 13.03 points below its all-time high set a week and a half ago.

The Dow Jones Industrial Average sank 211.17, or 0.6%, to 35,931.05, and the Nasdaq composite lost 52.28, or 0.3%, to 15,921.57.

A 4.7% drop for Visa was one of the heaviest weights on the market. It fell after Amazon said it would no longer accept U.K.-issued Visa credit cards amid a dispute about fees.

The majority of stocks in the S&P 500 also sank, while the smaller stocks in the Russell 2000 index dropped even more, down 1.2%. But gains for some heavyweight stocks helped soften the losses. Apple rose 1.6%, and Tesla climbed 3.3%. Because they’re two of the biggest stocks on Wall Street by market value, their movements carry extra weight on the S&P 500.

Yields in the U.S. government bond market, center of some of Wall Street’s most turbulent action recently, pulled back following a week of big gains. The yield on the 10-year Treasury dropped to 1.59% from 1.63% late Wednesday.

Shorter-term yields also eased back, giving up a portion of their own recent surge. Last week, hotter-than-expected inflation across the economy pushed investors to move up their expectations for when the Federal Reserve would raise interest rates off their record lows.

Stocks have been powering mostly higher over the last month as companies have widely reported much stronger profits for the summer than analysts expected. Several big retailers joined the parade on Wednesday, including Lowe’s, Target and TJX, which runs the T.J. Maxx and Marshalls stores. But the stock market’s reaction wasn’t uniform.

TJX rose 5.8% after reporting stronger revenue and earnings for the latest quarter than expected. Home improvement retailer Lowe’s inched up 0.4% as it raised its revenue forecast for the year following strong third-quarter financial results.

But Target fell 4.7% even though it also reported better earnings than expected. The company said it made less profit off each $1 in sales during the quarter, versus a year earlier, as it got squeezed by higher merchandise and supply-chain costs, among other things.

Such pressures — and how much they hit companies’ bottom lines — are under the microscope as relatively high inflation continues to sweep the world. Many companies have warned their profit margins could suffer due to supply-chain problems and higher costs for everything from workers’ wages to raw materials.

A report on the housing market showed some of those pressures. Builders broke ground on fewer homes last month than in September, contrary to economists’ expectations for growth. That could be an indication that supply shortages and higher costs are slowing the industry. But the number of building permits also rose by more than expected, perhaps showing that homebuilders see those pressures eventually easing.

ASX 200 expected to edge lower​ The Australian share market looks set to edge lower on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 8 points or 0.1% lower this morning. 

This follows a poor night on Wall Street, which on closing sees the Dow Jones down 0.58%, the S&P 500 down 0.26%, and the Nasdaq down 0.33%.


----------



## bigdog

Asian shares press higher after Wall St record
					

BEIJING (AP) — Asian stock markets were mostly higher Friday after Wall Street hit a record and Japanese inflation eased. Market benchmarks in Shanghai, Tokyo and Sydney advanced. Hong Kong declined.




					apnews.com
				




*US stock indexes end mixed as traders weigh retail earnings*

By DAMIAN J. TROISE and ALEX VEIGA

A wobbly day on Wall Street ended with a mixed finish for stock indexes Thursday, nudging the S&P 500 and Nasdaq to new highs.

The S&P 500 rose 0.3% and the Nasdaq gained 0.5%, enough for the indexes to set new highs after a modest pullback a day earlier. After an up-and-down run this week, the indexes are on pace for a weekly gain. The Dow Jones Industrial Average slipped 0.2%, its third drop so far this week.

Roughly 67% of the companies in the S&P 500 fell, though gains by large technology companies and big retailers helped offset losses in other sectors as investors sized up the latest batch of corporate earnings reports.

Bond yields edged lower. The yield on the 10-year Treasury note fell to 1.59% from 1.60% late Wednesday.

All told, the S&P 500 rose 15.87 points to 4,704.54, while the Nasdaq gained 72.14 points to 15,993.71.

The Dow dropped 60.10 points to 35,870.95. Small company stocks also declined. The Russell 2000 index fell 13.42 points, or 0.6%, to 2,363.59.

U.S. stocks have been powering mostly higher since early October as companies reported much stronger profits for the summer than analysts expected. Nearly every company in the S&P 500 has turned in their latest financial results, with overall earnings growth of 39%. That far outpaces analysts’ expectations in June for 23% earnings growth for the quarter.

Investors have now shifted much of their focus to the threat from rising inflation. Companies are facing higher raw materials costs and supply chain problems that could crimp profits. Consumers have so far absorbed higher prices, but analysts fear they could eventually rein in their spending if higher prices persist too long.

Solid earnings results helped lift a handful of companies Thursday.

Nvidia jumped 8.3% for the biggest gain in the S&P 500 after the maker of graphics chips for gaming and artificial intelligence reported strong third-quarter financial results. Other chipmakers also gained ground. Advanced Micro Devices rose 2.4% and Micron Technology rose 2.1%.

Companies that rely on consumer spending on goods and services also fared well following solid earnings reports from retailers. Macy’s surged 21.2% after the department store chain handily beat Wall Street’s third-quarter profit forecasts. Kohl’s also reported encouraging earnings and jumped 10.6%.

Financial companies had some of the broadest losses. American Express fell 1.9% and insurer Aflac fell 1.8%.

Consumer staples makers and industrial companies also fell. Kraft Heinz slid 3.3% and General Electric fell 1.3%.

Investors received a positive update on the closely watched employment market, which is viewed as a key factor in the economy’s continued recovery.

The Labor Department said that the number of Americans applying for unemployment benefits fell for the seventh straight week to a pandemic low of 268,000.

ASX 200 expected to rise​ The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 6 points or 0.1% higher. 

This follows a mixed night of trade on Wall Street, which on closing sees the Dow Jones down 0.17%, but the S&P 500 up 0.34% and the Nasdaq up 0.45%.


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## bigdog

https://apnews.com/article/business-stock-markets-asia-sydney-japan-8249391b36f95010b522ae8dd036d045

*Stocks end mostly lower, but tech gains push Nasdaq higher*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street closed out a week of choppy trading with stocks mostly lower Friday, though gains for several tech companies pushed the Nasdaq composite to another record high and its first close over 16,000 points.

The S&P 500 index gave up 0.1% a day after setting an all-time high. The Dow Jones Industrial Average fell 0.7% and the Nasdaq composite rose 0.4%. Despite an up-and-down week, the S&P 500 and Nasdaq notched weekly gains, while the Dow posted its second straight weekly loss.

Some 66% of companies in the S&P 500 fell, with financial and energy stocks accounting for a big share of the pullback. Those losses outweighed gains in technology and a mix of companies that rely on consumer spending.

Investors continued to review earnings from a range of retailers to essentially close out the latest round of corporate report cards. They’re also focusing on the potential risks to the economy and corporate profits from rising inflation, which has pushed stocks into a bumpier path after weeks of solid gains.

“There’s still a wide range of outcomes and perspectives around whether inflation is becoming more imbedded and durable or will be transitory,” said Bill Northey, senior investment director at U.S. Bank Wealth Management.

The S&P 500 fell 6.58 points to 4,697.96. The Dow slid 268.97 points to 35,601.98, its third straight drop. The Nasdaq added 63.73 points to 16,057.44, for its sixth straight gain.

Smaller-company stocks fell more than the broader market. The Russell 2000 index lost 20.43 points, or 0.9%, to 2,343.16.

The yield on the 10-year Treasury fell to 1.54% from 1.59% late Thursday. Falling bond yields weighed down banks, which rely on higher yields to charge more lucrative interest on loans. JPMorgan Chase dropped 1.3%.

U.S. crude oil prices fell 3.7%, dragging down energy stocks. Exxon Mobil shed 4.6%.

TurboTax maker Intuit jumped 10.1% for the biggest gain in the S&P 500 after raising its profit forecast for its fiscal year. Software maker Adobe rose 2.6%.

Several companies that rely on direct consumer spending for goods and services also rose. Tesla added 3.7% and Nike rose 2.1%.

Moderna climbed 4.9% and Pfizer fell 1.2% after the Food and Drug Administration opened up coronavirus booster shots from the two companies to all adults.

U.S. stocks have been mostly pushing higher since early October as companies reported much stronger profits for the summer than analysts expected. More than 95% of companies in the S&P 500 have reported their latest quarterly results in recent weeks, posting overall earnings growth of about 40%. That outpaces analysts’ forecasts for 23% growth made back in June.

Still, companies are facing higher raw materials costs and supply chain problems that could crimp future profits. Consumers have so far absorbed higher prices, but analysts fear they could eventually rein in their spending if higher prices persist too long.

The situation is putting pressure on the Federal Reserve to move faster to rein in its ultra-low-rate policies in order to combat rising prices. On Friday, analysts at Bank of America projected that the Fed will likely start raising its benchmark interest rate in the second quarter of 2022, two quarters earlier than they had previously forecast.

Businesses are facing higher raw materials costs and supply chain problems that have been cutting into operations. That has raised concerns that a wide range of industries could see growth stunted into 2022.

The latest examples include Williams-Sonoma. The seller of cookware and home furnishings warned investors that supply chain problems could hurt its inventory through the middle of next year. The stock fell 1.5%.

Applied Materials fell 5.5% after reporting weak financial results and a disappointing profit forecast partly because of supply chain problems.

“Those (supply chain) problems will likely clear over time, but they may not clear in time for the holiday season,” Northey said. “That may cause demand to be unmet or shift to early next year.”

Wall Street is also worried about consumers eventually pulling back on spending because of higher prices. Prices for U.S. consumers jumped 6.2% in October compared with a year earlier, leaving families facing their highest inflation rate since 1990, the Labor Department said.

The higher prices have yet to derail consumer spending, though, and retail sales jumped 1.7% in October, according to the Commerce Department. That was the biggest month-to-month gain since March.


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## bigdog

ASX 200 expected to sink​The Australian share market looks set to start the week deep in the red. According to the latest SPI futures, the ASX 200 is expected to open the day 45 points or 0.6% lower this morning. 

This follows a mixed end to the week on Wall Street, which saw the Dow Jones fall 0.75%, the S&P 500 drop 0.14%, but the Nasdaq buck the trend by pushing 0.4% higher.


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## bigdog

https://apnews.com/article/business-china-asia-beijing-hong-kong-018604d0fea11ed3acc6225c0b58f543

*A late afternoon slump leaves major US indexes mostly lower*

By DAMIAN J. TROISE and ALEX VEIGA

A choppy day of trading on Wall Street ended with stocks mostly lower Monday, as a late-afternoon burst of selling derailed the market from another all-time high.

The S&P 500 fell 0.3% after having been up as much as 1% earlier in the day and on pace to eclipse the record high it set last Thursday. The Dow Jones Industrial Average eked out a 0.1% gain, while the Nasdaq shed an early gain and slid 1.3% below the all-time high it set on Friday.

Bond yields moved solidly higher. Gold prices fell and energy futures mostly rose.

The market was higher for much of the day as traders were relieved to learn that President Joe Biden would nominate Jerome Powell for a second four-year term at the helm of the Federal Reserve, a vote of confidence in Powell’s handling of central bank policies during the brutal disruptions caused by the coronavirus pandemic.

While stocks initially rallied on the news, bonds sold off, pushing yields broadly higher. The yield on the 10-year Treasury rose to 1.63% from 1.54% late Friday.

Higher Treasury yields make the more expensive areas of the market, like technology stocks, less attractive, which may explain why there was more selling in stocks toward the end of the day as the bond market shifted.

“Growth areas of (the stock) market do not like higher bond yields,” said Willie Delwiche, investment strategist at All Star Charts. “Energy and financials, however, loved them.”

The S&P 500 fell 15.02 points to 4,682.94. The Dow gained 17.27 points to 35,619.25. The tech-heavy Nasdaq gave up 202.68 points to 15,854.76.

Small company stocks also fell. The Russell 2000 index dropped 11.81 points, or 0.5%, to 2,331.35.

U.S. stocks have been mostly pushing higher since early October as companies reported much stronger profits for the summer than analysts expected. The benchmark S&P 500 has posted a weekly gain in eight out of the last nine weeks, notching successive record highs along the way.

Still, investors are seeking reassurance about how companies will fare in coming months as they grapple with higher raw materials costs and supply chain problems that could crimp future profits. Consumers have so far absorbed higher prices, but analysts fear they could eventually rein in their spending if higher prices persist too long.

The Federal Reserve is starting to trim bond purchases that have helped maintain low interest rates in an effort to support the economy and markets as rising inflation hangs over the economic recovery. Investors are closely watching the Fed to see whether pressure from rising inflation prompts it to speed up its plans for trimming bond purchases and raising its benchmark interest rate.

“Powell getting the nod is a sign that Biden is staying the course on monetary policy and the Fed is steadily moving toward normalizing policy,” said Brad McMillan, chief investment officer for Commonwealth Financial Network. “On the whole, the Fed is going to continue to be a force for monetary stability.”

More than 55% of the stocks in the S&P 500 rose Monday, but losses by big technology and communication companies outweighed gains elsewhere in the benchmark index. Chipmaker Nvidia slid 3.1% and Netflix fell 2.9%.

Rising bond yields helped boost banks, which rely on higher yields to charge more lucrative interest on loans. Bank of America rose 1.9%.

Energy companies were among the gainers, getting a bump as U.S. crude oil prices rose 0.9%. Chevron closed 1.8% higher. Companies that make household and personal care products made solid gains. Walmart rose 1.7% and supermarket operator Kroger rose 4.8%.

Companies that rely on consumer spending also weighed on the market, led by a pullback in shares of Target, which fell 2.5%, and Amazon, which lost 2.8%. Those retailers are on the cusp of the busy holiday shopping season, which traditionally kicks off right after the Thanksgiving holiday.

The dollar also strengthened against other currencies. The price of gold, a haven for when investors feel anxious, fell 2.4%.

Markets in Europe and Asia closed mixed as a resurgence of coronavirus outbreaks prompted some countries to look to stricter precautions to curb yet another wave of the pandemic.

Investors face a relatively light schedule of economic updates during this holiday-shortened week. The National Association of Realtors reported surprisingly good sales for previously occupied homes in October on Monday. The Commerce Department will report October data for new home sales on Wednesday, along with data on third-quarter gross domestic product.

Markets in the U.S. will be closed on Thursday for the Thanksgiving holiday. They will also close early on Friday.

ASX 200 expected to edge higher​The Australian share market looks set to return to form on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 7 points or 0.1% higher this morning. 

A late afternoon slump leaves major US indexes mostly lower, which on closing sees the Dow Jones up 0.5%, the S&P 500 down 0.32%, but the Nasdaq trading 1.26% lower.


----------



## bigdog

https://apnews.com/article/joe-biden-business-asia-hong-kong-seoul-2185bb1b6db142e665cd4e0d6d02385b

*Stocks end mixed, oil prices rise despite release of crude*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street closed out a wobbly day of trading Tuesday with a mixed finish for the major stock indexes, as gains in banks and energy companies tempered losses elsewhere in the market.

The S&P 500 managed to rise 0.2% after wavering between small gains and losses for much of the day. The benchmark index was coming off two straight drops after setting a record high last Thursday. The Dow Jones Industrial Average rose 0.5%, while the Nasdaq composite closed 0.5% lower.

More than 60% of the stocks in the S&P 500 rose. Banks, energy stocks and household goods companies rose. Those gains were tempered by losses in technology and communication stocks, and a mix of companies that rely on consumer spending.

The price of U.S. crude oil rose 2.3% and wholesale gasoline rose 3.4% despite the fact that President Joe Biden ordered 50 million barrels of oil released from the nation’s strategic reserve to help bring down energy costs. The move was made in concert with other big oil-consuming nations.

Bond yields rose, adding to a broad move higher a day before that helped spur a late-afternoon sell-off in big technology and consumer-oriented stocks. Such stocks have seen their prices soar during the pandemic and can look less attractive when bond yields rise sharply.

“We’re also seeing a continuation of the upward move today in the 10-year (Treasury) yield, but obviously that did not seem to hold back the Dow or the S&P 500,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 rose 7.76 points to 4,690.70. The Dow gained 194.55 points to 35,813.80. The Nasdaq slipped 79.62 points to 15,775.14.

Small company stocks also lost ground. The Russell 2000 index fell 3.49 points, or 0.1%, to 2,327.86.

Bond yields rose. The yield on the 10-year Treasury rose to 1.68% from 1.63% late Monday. That helped send banks higher. JPMorgan Chase rose 2.4%.

Oil and gas companies made solid gains as energy prices rose. Devon Energy rose 5.6%.

Several travel-related companies gained ground as people prepare to travel for the Thanksgiving holiday. Hilton Worldwide rose 1.3% and Expedia Group gained 2.7%.

Retailers were mixed ahead of the official start of the key holiday shopping season. Discount retailer Dollar Tree jumped 9.2% for the biggest gain in the S&P 500. Starbucks rose 1.9%. Best Buy slumped 12.3%, the biggest drop in the S&P 500, as concerns about tighter margins outweighed solid earnings.

Technology and communications companies also weighed on the broader market. Adobe fell 1.3% and Intel dropped 1.5%.

Zoom Video sank 14.7% a day after the video conferencing company reported that its third-quarter revenue growth slowed.

Stocks are likely to see more mixed trading this week, with markets closing on Thursday for Thanksgiving and then closing early on Friday.

“In this holiday-shortened week, lower volume leads to higher volatility,” Stovall said.

Still, Wall Street will get a few pieces of economic data on Wednesday that could give investors a better sense of the economic recovery’s pace and breadth. The Labor Department will release its weekly report on unemployment benefits. The Commerce Department releases data on third-quarter gross domestic product and its new home sales report for October.

Also on Wednesday, the Federal Reserve will release minutes from its October interest-rate meeting, potentially giving investors more details on the central bank’s plan to start trimming bond purchases that have helped keep interest rates low.

Investors have been watching to see if pressure from rising inflation will goad the Fed into speeding up its plans for trimming bond purchases and raising its benchmark interest rate.

ASX 200 expected to fall​ The Australian share market looks set to give back some of yesterday’s gains on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 18 points or 0.25% lower this morning. 

On closing in the United States, the Dow Jones is up 0.55%, the S&P 500 is up 0.17%, but the Nasdaq is trading 0.5% lower.


----------



## bigdog

*NYSE markets will be closed on Thursday for the Thanksgiving holiday and will close early on Friday.*

https://apnews.com/article/business...-new-zealand-d3e619c346ac9a9afc69d35c15c9822f

*Stocks edge higher after another choppy day on Wall Street*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped another wobbly day of trading Wednesday with an uneven finish for the major stock indexes ahead of the Thanksgiving holiday in the U.S.

The S&P 500 rose 0.2% after wavering between small gains and losses most of the morning. The benchmark index regained its footing in the final hour of trading.

The Dow Jones Industrial Average slipped less than 0.1% after having been down 0.6% in the early going. The Nasdaq rose 0.4%, getting a lift from a late-afternoon rally in technology stocks.

The Federal Reserve released the minutes from its October policy meeting, which showed that Fed officials discussed how they “would not hesitate” to take appropriate actions to address inflation pressures that posed risks to the economy.

The minutes also revealed Fed officials maintained that the spike in inflation seen this year was still likely to be transitory while acknowledging that the rise in prices had been greater than expected. The minutes covered a meeting in which the Fed voted to take the first steps to roll back the massive support it has provided to the economy struggling to recover from a global pandemic.

Supply chain problems and pressure from inflation have been key concerns for a wide range of industries. Many companies have warned that they are having trouble meeting demand and are dealing with higher costs for raw materials. Those higher costs are being passed off to consumers, who have been paying more for everything from food and other staples to a wide range of retail items.

“You’ve got an environment where the persistence of supply chain issues is starting to wear on people,” said Eric Freedman, chief investment officer at U.S. Bank Wealth Management.

The S&P 500 rose 10.76 points to 4,701.46. The index set an all-time high last Thursday. The Dow slipped 9.42 points to 35,804.38, and the Nasdaq gained 70.09 points to 15,845.23.

Small company stocks also rose. The Russell 2000 index added 3.60 points, or 0.2%, to 2,331.46.

Slightly more stocks in the S&P 500 index fell than rose. Gains in technology, real estate and energy stocks outweighed a slide in banks, materials companies and elsewhere in the market.

Investors kept an eye on the latest batch of quarterly report cards. Computer maker HP rose 10.10% for the biggest gain in the S&P 500 after reporting solid financial results. Autodesk slumped 15.5% after the design software company warned investors the pace of its recovery is being impacted by supply chain problems and pressure from inflation.

A mix of retailers that rely on direct consumer spending also turned choppy. Online crafts marketplace Etsy rose 6.2%. Gap nosedived 24.1% after the clothing chain said supply chain problems crimped its third-quarter earnings and revenue. Department store operator Nordstrom plunged 29% after reporting weak third-quarter earnings.

Energy stocks made gains as crude oil prices remained relatively stable and natural gas prices rose. Devon Energy rose 3.8%.

Bond yields were mixed. The yield on the 10-year Treasury slipped to 1.64% from 1.67% late Tuesday. That weighed down banks, which rely on higher yields to charge more lucrative interest on loans. JPMorgan Chase fell 0.8%.

The latest update on consumer spending showed an October rebound with a 1.3% rise, according to the Commerce Department. That’s slightly more than double the gain in September.

It’s been an otherwise uneventful and short week for investors. Markets will be closed on Thursday for the Thanksgiving holiday and will close early on Friday.

Investors received several upbeat economic updates on Wednesday.

The Commerce Department reported that the U.S. economy slowed to a modest annual rate of 2.1% growth in the October-December quarter, slightly better than its first estimate. But economists are predicting a solid rebound in the current quarter as long as rising inflation and a recent uptick in COVID cases do not derail activity.

The Labor Department reported that the number of Americans applying for unemployment benefits plummeted last week to the lowest level in more than half a century, another sign that the U.S. job market is rebounding rapidly from last year’s coronavirus recession.

ASX 200 expected to fall​ The Australian share market looks set to drop again on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 13 points or 0.2% lower this morning. 

Stocks edge higher after another choppy day on Wall Street; on closing the Dow Jones was down 0.03%, the S&P 500 up 0.23%, and the Nasdaq up 0.44%.


----------



## bigdog

*NYSE markets were closed on Thursday for the Thanksgiving holiday and will close early on Friday.*

https://apnews.com/article/business-asia-sydney-tokyo-stock-markets-00fd342d5d83d20d1342f1d3af9d822d

*Global stocks mixed after Fed says ready to act on inflation*

By JOE McDONALD

BEIJING (AP) — Global stock markets mostly rose Thursday after Federal Reserve officials indicated they were ready to hike interest rates sooner than expected if needed to cool U.S. inflation.

London, Tokyo, Frankfurt and Hong Kong markets advanced, while Shanghai declined.

Wall Street futures were higher. U.S. markets were closed for the Thanksgiving holiday. They reopen Friday for a shortened trading session.

Fed officials at their October policy meeting said they “would not hesitate” to respond to inflation, according to notes released Wednesday. They foresaw the possibility of raising rates “sooner than participants currently anticipated.”

That fueled investor fears the Fed and other central banks might feel pressure to withdraw economic stimulus that has been boosting stock prices. Fed officials earlier indicated they might raise rates late next year.

Higher prices combined with stronger U.S. hiring suggest the attitude at the next Fed meeting might be “unabashedly more hawkish,” said Tan Boon Heng of Mizuho Bank in a report.

In early trading, the FTSE in London rose less than 0.1% to 7,289.90 and the DAX in Frankfurt gained 0.3% to 15,927.78. The CAC 40 in Paris added 0.3% to 7,063.84.

Futures for the S&P 500 and the Dow Jones Industrial Average were up 0.3%.

In Asia, the Shanghai Composite Index lost 0.2% to 3,584.18 while the Nikkei 225 in Tokyo gained 0.7% to 29,499.28. The Hang Seng in Hong Kong advanced 0.2% to 24,740.16.

The Kospi in Seoul lost 0.5% to 2,980.27 after the Korean central bank raised its policy interest rate by 0.25 percentage points to 1% in line with expectations.

Sydney’s S&P-ASX 200 added 0.1% to 7,407.30 and India’s Sensex gained 0.8% to 58,811.46. New Zealand and Jakarta advanced while Singapore and Bangkok declined.

On Wall Street, the S&P 500 advanced 0.2%. Gains in technology, real estate and energy stocks outweighed a slide in banks and materials companies.

The Dow slipped less than 0.1% while the Nasdaq composite gained 0.4%.

The Fed notes showed officials still believe this year’s inflation spike is likely to be temporary but acknowledged prices rose more than expected.

The notes covered the October meeting at which Fed board members voted to take the first steps to roll back easy credit and other measures to support an economic recovery from the coronavirus pandemic.

A wide range of industries have been hit by inflation pressures and disruptions in supplies of raw materials and components. Forecasters worry consumers might cut spending if retail prices keep rising.

Consumer spending rose 1.3% in October, slightly more than double the previous month’s rise, according to the U.S. Commerce Department.

The Labor Department reported the number of Americans applying for unemployment benefits fell last week to its lowest level in more than half a century.

In energy markets, benchmark U.S. crude lost 5 cents to $78.34 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, used to price international oils, gained 10 cents to $81.15 per barrel in London.

The dollar fell to 115.36 yen from 115.48 yen. The euro advanced to $1.1221 from $1.1199.

ASX 200 expected to edge lower​The Australian share market looks set to end the week in a subdued fashion. According to the latest SPI futures, the ASX 200 is expected to open the day 7 points or 0.1% lower.

*Wall Street futures were higher. U.S. markets were closed for the Thanksgiving holiday. They reopen Friday for a shortened trading session.*


----------



## bigdog

*A SEA OF RED ON FRIDAY NOVEMBER 26 2021*

*Stocks sink on new COVID variant; Dow loses 905 points*

By KEN SWEET and PAUL WISEMAN

Stocks sank Friday, with the Dow Jones Industrial Average briefly falling more than 1,000 points, as a new coronavirus variant first detected in South Africa appeared to be spreading across the globe. Investors were uncertain whether the variant could potentially reverse months of progress at getting the COVID-19 pandemic under control.

The S&P 500 index dropped 106.84 points, or 2.3%, to close at 4,594.62. It was the worst day for Wall Street’s benchmark index since February.

The index was dragged lower by everything from banks, travel companies and energy companies as investors tried to reposition to protect themselves financially from the new variant. The World Health Organization called the variant “highly transmissible.”

The price of oil fell about 13%, the biggest decline since early in the pandemic, amid worries of another slowdown in the global economy. That in turn dragged down energy stocks. Exxon shares fell 3.5% while Chevron fell 2.3%.

The blue chips closed down 905.04 points to end the day at 34,899.34. The Nasdaq Composite lost 353.57 points, or 2.2%, to 15,491.66.

“Investors are likely to shoot first and ask questions later until more is known,” Jeffrey Halley of Oanda said in a report. That was evident from the action in the bond market, where the yield on the 10-year Treasury note fell to 1.48% from 1.64% on Wednesday. As a result, banks took some of the heaviest losses. JPMorgan Chase dropped 3%.

There have been other variants of the coronavirus — the delta variant devastated much of the U.S. throughout the summer — and investors, public officials and the general public are jittery about any new variant that’s spreading. It’s been nearly two years since COVID-19 emerged, killing more than 5 million people around the globe so far.

Cases of the new variant were found in Hong Kong, Belgium and Tel Aviv as well as major South African cities like Johannesburg.

The economic impacts of this variant were already being felt. The European Union and the U.K. both announced travel restrictions from southern Africa on Friday. After the market closed, the U.S. also put travel restrictions on those coming from South Africa as well as seven other African nations.

Airline stocks quickly sold off, with United Airlines dropping 9.6% and American Airlines falling 8.8%.

“COVID had seemingly been put in the rear-view mirror by financial markets until recently,” Douglas Porter, chief economist at BMO Capital Markets. “At the least, (the virus) is likely to continue throwing sand in the gears of the global economy in 2022, restraining the recovery (and) keeping kinks in the supply chain.”

Even Bitcoin got caught up in the selling. The digital currency dropped 8.4% to $54,179, according to CoinDesk.

In Nantucket, Massachusetts, where he is spending a holiday weekend, President Joe Biden said he wasn’t concerned about the market’s decline.

“They always do when there’s something on COVID (that) arises,” Biden said.

One sign of Wall Street’s anxiety was the VIX, the market’s measurement of volatility that is sometimes referred to as its “fear gauge.” The VIX jumped 53.6% to a reading of 28.54, its highest reading since January before the vaccines began to be widely distributed.

Fearful of more lockdowns and travel bans, investors moved money into companies that largely benefited from previous waves, like Zoom Communications for meetings or Peloton for at-home exercise equipment. Shares in both companies rose nearly 6%.

The coronavirus vaccine manufacturers were among the biggest beneficiaries of the emergence of this new variant and the subsequent investor reaction. Pfizer shares rose more than 6% while Moderna shares jumped more than 20%.

Merck shares fell 3.8%, however. While U.S. health officials said Merck’s experimental treatment of COVID-19 was effective, data showed the pill was not as effective at keeping patients out of the hospital as originally thought.

Investors are worried that the supply chain issues that have impacted global markets for months will worsen. Ports and freight yards are vulnerable and could be shut by new, localized outbreaks.

“Supply chains are already stretched,” said Neil Shearing, an economist with Capital Economics in London. “A new, more dangerous, virus wave could cause some workers to temporarily exit the workforce, and deter others from returning, making current labor shortages worse.’’

The variant also puts more pressure on central banks that are already faced with a dilemma: whether and when to raise interest rates to combat rising inflation. “The threat of a new, more serious, variant of the virus may be a reason for central banks to postpone plans to raise interest rates until the picture becomes clearer,” Shearing said.

Stock trading the Friday after Thanksgiving is typically the slowest day of the year, with the market closing at 1 p.m. Eastern. However volume on Friday was much higher than it would typically be for a holiday-shortened day. Roughly 3.4 billion shares exchanged hands on the New York Stock Exchange, which is only modestly below the 4 billion shares traded on an average day.


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## Gunnerguy

bigdog said:


> *A SEA OF RED ON FRIDAY NOVEMBER 26 2021*
> 
> *Stocks sink on new COVID variant; Dow loses 905 points*
> 
> By KEN SWEET and PAUL WISEMAN
> 
> Stocks sank Friday, with the Dow Jones Industrial Average briefly falling more than 1,000 points, as a new coronavirus variant first detected in South Africa appeared to be spreading across the globe. Investors were uncertain whether the variant could potentially reverse months of progress at getting the COVID-19 pandemic under control.
> 
> The S&P 500 index dropped 106.84 points, or 2.3%, to close at 4,594.62. It was the worst day for Wall Street’s benchmark index since February.
> 
> The index was dragged lower by everything from banks, travel companies and energy companies as investors tried to reposition to protect themselves financially from the new variant. The World Health Organization called the variant “highly transmissible.”
> 
> The price of oil fell about 13%, the biggest decline since early in the pandemic, amid worries of another slowdown in the global economy. That in turn dragged down energy stocks. Exxon shares fell 3.5% while Chevron fell 2.3%.
> 
> The blue chips closed down 905.04 points to end the day at 34,899.34. The Nasdaq Composite lost 353.57 points, or 2.2%, to 15,491.66.
> 
> “Investors are likely to shoot first and ask questions later until more is known,” Jeffrey Halley of Oanda said in a report. That was evident from the action in the bond market, where the yield on the 10-year Treasury note fell to 1.48% from 1.64% on Wednesday. As a result, banks took some of the heaviest losses. JPMorgan Chase dropped 3%.
> 
> There have been other variants of the coronavirus — the delta variant devastated much of the U.S. throughout the summer — and investors, public officials and the general public are jittery about any new variant that’s spreading. It’s been nearly two years since COVID-19 emerged, killing more than 5 million people around the globe so far.
> 
> Cases of the new variant were found in Hong Kong, Belgium and Tel Aviv as well as major South African cities like Johannesburg.
> 
> The economic impacts of this variant were already being felt. The European Union and the U.K. both announced travel restrictions from southern Africa on Friday. After the market closed, the U.S. also put travel restrictions on those coming from South Africa as well as seven other African nations.
> 
> Airline stocks quickly sold off, with United Airlines dropping 9.6% and American Airlines falling 8.8%.
> 
> “COVID had seemingly been put in the rear-view mirror by financial markets until recently,” Douglas Porter, chief economist at BMO Capital Markets. “At the least, (the virus) is likely to continue throwing sand in the gears of the global economy in 2022, restraining the recovery (and) keeping kinks in the supply chain.”
> 
> Even Bitcoin got caught up in the selling. The digital currency dropped 8.4% to $54,179, according to CoinDesk.
> 
> In Nantucket, Massachusetts, where he is spending a holiday weekend, President Joe Biden said he wasn’t concerned about the market’s decline.
> 
> “They always do when there’s something on COVID (that) arises,” Biden said.
> 
> One sign of Wall Street’s anxiety was the VIX, the market’s measurement of volatility that is sometimes referred to as its “fear gauge.” The VIX jumped 53.6% to a reading of 28.54, its highest reading since January before the vaccines began to be widely distributed.
> 
> Fearful of more lockdowns and travel bans, investors moved money into companies that largely benefited from previous waves, like Zoom Communications for meetings or Peloton for at-home exercise equipment. Shares in both companies rose nearly 6%.
> 
> The coronavirus vaccine manufacturers were among the biggest beneficiaries of the emergence of this new variant and the subsequent investor reaction. Pfizer shares rose more than 6% while Moderna shares jumped more than 20%.
> 
> Merck shares fell 3.8%, however. While U.S. health officials said Merck’s experimental treatment of COVID-19 was effective, data showed the pill was not as effective at keeping patients out of the hospital as originally thought.
> 
> Investors are worried that the supply chain issues that have impacted global markets for months will worsen. Ports and freight yards are vulnerable and could be shut by new, localized outbreaks.
> 
> “Supply chains are already stretched,” said Neil Shearing, an economist with Capital Economics in London. “A new, more dangerous, virus wave could cause some workers to temporarily exit the workforce, and deter others from returning, making current labor shortages worse.’’
> 
> The variant also puts more pressure on central banks that are already faced with a dilemma: whether and when to raise interest rates to combat rising inflation. “The threat of a new, more serious, variant of the virus may be a reason for central banks to postpone plans to raise interest rates until the picture becomes clearer,” Shearing said.
> 
> Stock trading the Friday after Thanksgiving is typically the slowest day of the year, with the market closing at 1 p.m. Eastern. However volume on Friday was much higher than it would typically be for a holiday-shortened day. Roughly 3.4 billion shares exchanged hands on the New York Stock Exchange, which is only modestly below the 4 billion shares traded on an average day.
> 
> 
> View attachment 133460



Sunday 11.30am Perth time ......
AXJO futures already down 2%-3%.
Looks like Monday mornings going to be fun.
Hold on to your hats.
Gunnerguy


----------



## bigdog

ASX 200 expected to sink again​ The Australian share market looks set to start the new week the same way as it ended the last one. According to the latest SPI futures, the ASX 200 is expected to open the day 104 points or 1.4% lower this morning. 

This follows a selloff on Wall Street on Friday which saw the Dow Jones fall 2.5%, the S&P 500 drop 2.3%, and the Nasdaq tumble 2.2%. The Dow had its worst day of the year.


----------



## bigdog

https://apnews.com/article/coronavi...tock-markets-a495e093eb1a0503728f28b56bdcf56a

*Stocks rise as Wall Street steadies following omicron slide*

By DAMIAN J. TROISE, STAN CHOE and PAUL WISEMAN

NEW YORK (AP) — Wall Street steadied itself Monday after last week’s stock market slide caused by the newest coronavirus variant, with investors now waiting for more clues about just how much damage it may do to the economy.

The S&P 500 rose 1.3% to recover more than half of its drop from Friday, which was its worst since February. Bond yields and crude oil also recovered chunks of what they lost in traders’ knee-jerk reaction to run toward safety and away from risky investments.

With vaccines in hand — and with the benefit of a weekend to mull whether Friday’s sharp market moves were overdone — analysts said the world may be in better position to weather this newest potential wave. Plus, Friday’s tumble for markets may have been exacerbated by many traders taking the day off following Thanksgiving.

But while the market steadied itself, uneasiness still hangs over it due to the discovery of the variant now known as omicron. The variant appears to spread more easily, and countries around the world have put up barriers to travel in hopes of stemming it. Still to be seen is how effective vaccines currently available are for the variant, and how long it may take to develop new omicron-specific vaccines.

“There are still more questions than answers regarding the new variant,” said Ryan Detrick, chief market strategist for LPL Financial. “At the same time, we’ve been living with COVID-19 for almost 20 months now, and we’ve seen multiple variants.”

Given the uncertainty, the Dow Jones Industrial Average wavered between a loss of 3 points and a gain of 388 points through the day. It ended with a gain of 236.60 points, or 0.7%, at 35,135.94.

The most powerful lift for stocks came from those that have been able to grow strongly almost regardless of the economy’s strength or pandemic’s pall. Gains for five big tech-oriented stocks — Microsoft, Tesla, Apple, Amazon and Nvidia — alone accounted for more than a third of the S&P 500’s rise. The gains for tech-oriented stocks also helped to drive the Nasdaq composite up a market-leading 1.9%.

Moderna jumped 11.8% for the biggest gain in the S&P 500, adding to an even bigger gain from Friday, after it said it’s testing the effectiveness of its vaccine against omicron. Its CEO said in a televised interview on ABC that it could take two to three months for a vaccine developed specifically for the variant to begin manufacturing.

Travel-related stocks started the day with gains but fell back as more caution filtered into the market and as travel restrictions around the world remained in force. They ended mixed after President Joe Biden said he wasn’t considering a widespread U.S. lockdown. He said the variant was a cause for concern and “not a cause for panic.” Delta Air Lines and American Airlines closed slightly lower, while cruise line operators Carnival and Norwegian Cruise Line notched gains.

All told, the S&P 500 rose 60.65 points to 4,655.27, while the Nasdaq added 291.18 points to 15,782.83. The Russell 2000 index of small companies was headed for its own rebound after climbing 1.6% in the early going, but its gains faded by late afternoon. The index slipped 3.96 points, or 0.2%, to 2,241.98.

“Because so much is still unknown about the omicron variant, it could take us a week or more to recover what we lost in a single day,” said Sam Stovall, chief investment strategist at CFRA.

The yield on the 10-year Treasury rose to 1.51% from 1.49% late Friday, recovering some of its steep slide from 1.64% that day. It tends to rise and fall with expectations for the economy’s strength and for inflation.

The VIX, an index that measures how worried investors are about upcoming drops for the S&P 500, also eased significantly. But it’s not all the way back to where it was before omicron.

Besides waiting on more clues about how much economic damage omicron will ultimately do, the market has several big mileposts this week that could swing prices. The headliner is likely Friday’s jobs report, where economists expect to see an acceleration in hiring by employers during November.

Omicron adds more risk to a global economy already contending with paralyzing uncertainty. Travel bans, including recent decisions by Japan and Israel to bar foreign visitors, threaten to disrupt global business. Global supply chains already gummed up by bottlenecks could be further ensnarled if outbreaks shut down factories, ports and freight yards.

Shipping problems would risk pushing prices higher, adding to inflation pressures. In response, the world’s central banks could raise interest rates and imperil the recovery from last year’s brief but intense coronavirus recession.

“Omicron reinforces that the economy remains tethered to the pandemic,” Mark Zandi, chief economist at Moody’s Analytics, said on Twitter Monday. “With each new wave of the pandemic, the economy will suffer slower growth and higher inflation.’’

The U.S. economic recovery lost significant momentum when the highly contagious delta variant hit over the summer. Economic growth slowed to an annual rate of 2.1% from July through September from 6.7% from April through June and 6.3% from January through March. The S&P 500 had its worst onth of the year in September, falling 4.8%.

Still, more Americans are vaccinated now, and the economy has shown resiliency, regaining speed after the summer slowdown. Zandi tweeted that “the most likely scenario is the economy will manage through each wave better than the one before it.”

Of course, the only way to know which scenario will ultimately occur is to wait to see it through. And that uncertainty in the meantime could lead to more up-and-down swings for the stock market, which has surged more than 24% this year and set a record as recently as Nov. 18.

“We’re just going to be in the dark for several weeks here,” LPL’s Detrick said.

ASX 200 expected to rebound​The Australian share market looks set to rebound on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 50 points or 0.7% higher this morning.

This follows a solid start to the week on Wall Street, which on closing sees the Dow Jones up 0.68%, the S&P 500 up 1.32%, and the Nasdaq trading 1.88% higher. The latter bodes well for Aussie tech shares today.


----------



## bigdog

https://apnews.com/article/coronavi...ong-shanghai-c06381020f8f1aca48c9d39ac3249979

*Stocks sink as omicron, rate worries rattle Wall Street*

By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — Already unnerved by the newest coronavirus variant, Wall Street’s losses deepened on Tuesday after the head of the Federal Reserve said it will consider shutting off its support for financial markets sooner than expected.

The S&P 500 fell 1.9%, erasing its gains from a day earlier. The sell-off accelerated after Fed Chair Jerome Powell told Congress the central bank may halt the billions of dollars of bond purchases it’s making every month “perhaps a few months sooner.” It had been on pace to wrap up the purchases, meant to goose the economy by lowering rates for mortgages and other long-term loans, in June.

An end to the purchases would open the door for the Fed to raise short-term interest rates from their record low of nearly zero. That in turn would dilute a major propellant that’s sent stocks to record heights and swatted away concerns about an overly pricey market. As investors moved up their expectations for the Fed’s first rate hike following Powell’s remarks, yields on short-term Treasurys rose.

Losses for stocks mounted quickly, with the drop for the Dow Jones Industrial Average more than tripling in half an hour as it sank 711 points. The blue chip index ended down 652.22 points, or 1.9%, at 34,483.72.

The Nasdaq composite held up slightly better than the rest of the market, shedding 245.14 points, or 1.6%, to 15,537.69. Higher interest rates tend to hurt stock prices broadly, but they hit hardest on those seen as the most expensive or banking on big profit growth the furthest in the future. Such companies play a bigger role in the Nasdaq than other indexes. Microsoft fell 1.8% and chipmaker Nvidia slid 2.1%.

The whammy on interest rates came after stocks were already weak in the morning due to concerns about how badly the fast-spreading omicron variant of the coronavirus may hit the global economy.

The CEO of Moderna predicted in an interview with the Financial Times that existing COVID-19 vaccines may be less effective with omicron than earlier variants. Regeneron also said Tuesday that its monoclonal antibody treatment may have reduced effectiveness on omicron. Shares in Moderna fell 4.4%, while Regeneron dropped 2.7%.

Much is left to be determined about the variant, including how much it may slow already gummed-up supply chains or scare people away from stores. That uncertainty has sent Wall Street through jagged up-and-down jolts as investors struggle to handicap how much economic damage omicron will ultimately do.

“There will be heightened volatility around any piece of information,” said Kristina Hooper, chief global market strategist at Invesco. She said markets will likely remain cautious “before we know more.”

The S&P 500 dropped 88.27 points to 4,567. The benchmark index sank 2.3% Friday for its worst loss for February, only to rise 1.3% Monday as investors reconsidered whether the reaction was overdone, before giving way to Tuesday’s loss. The index closed out November with a 0.8% loss. That follows a 6.9% gain in October and a 4.8% drop in September. The index is now up 21.6% for the year.

One measure of nervousness in the stock market jumped almost 19% Tuesday, nearing its level from Friday, when it touched its highest point since March. Much of the rise occurred after Powell began speaking.

Gold usually does well when fear among investors is rising, but its price slipped 0.5%. Higher interest rates could reduce the appeal of gold, which doesn’t pay its holders any interest.

Crude oil prices slid with concerns that a global economy weakened by omicron would burn less fuel. Benchmark U.S. crude dropped 5.4% and touched its lowest level in three months. Brent crude, the international standard, fell 3.9%.

If omicron does ultimately do heavy damage to the global economy, it could put the Federal Reserve in a difficult spot. Usually, the central bank will lower interest rates, which encourages borrowers to spend more and investors to pay higher prices for stocks.

But low rates can also encourage inflation, which is already high across the global economy. Powell acknowledged in his testimony before Congress that inflation has been worse and lasted longer than the Fed expected. For months, officials described inflation as only “transitory,” but Powell said that word no longer works.

The subsequent losses for stocks Tuesday were widespread, with all but seven stocks in the S&P 500 ending lower. Apple rose 3.2% for the biggest gain in the index.

Smaller stocks also took heavy losses. The Russell 2000 index slid 43.07 points, or 1.9%, to 2,198.91. Investors typically see them getting hurt more than their larger rivals by both higher interest rates and by a weaker U.S. economy.

One signal in the bond market was also flashing some concern about the economy’s prospects. Longer-term Treasurys usually offer higher yields than shorter-term Treasurys, in part to make up for the increased risk that future inflation may eat into their returns.

A 10-year Treasury is still offering more in yield than a two-year Treasury, but the gap narrowed sharply on Tuesday. The two-year yield rose to 0.54% from 0.51% late Monday. The 10-year yield, meanwhile, fell to 1.45% from 1.52%.

Many investors see that narrowed gap as meaning the bond market has less confidence in the economy’s long-term strength. If it were to flip, with short-term yields rising above long-term yields, many investors see that as a semi-reliable predictor of a recession.

ASX 200 expected to fall​ The Australian share market looks set to give back yesterday’s gains on Wednesday amid a resurgence in Omicron fears. According to the latest SPI futures, the ASX 200 is expected to open the day 30 points or 0.4% lower this morning. 

On closing in the United States, the Dow Jones was down 1.86%, the S&P 500 is down 1.9%, and the Nasdaq is trading 1.55% lower.


----------



## bigdog

https://apnews.com/article/coronavi...h-japan-asia-60d228fe43161aac0e28909f35b172d2

*Markets turn cautious, reversing an early gain to end lower*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Another roller-coaster ride on Wall Street whipsawed investors Wednesday as an early market rally reversed course by midafternoon, piling up more losses for stocks.

The S&P 500 had been up 1.9% in the early going following some better-than-expected readings on the U.S. economy, but the gains gradually gave way to a 1.2% skid. The afternoon reversal is the latest dizzying move for Wall Street’s benchmark, which sank 2.3% on Friday for its worst loss since February, only to then rise 1.3% on Monday and then fall 1.9% on Tuesday.

The Dow Jones Industrial Average ended with a 1.3% loss, while the Nasdaq composite fell 1.8%. Both indexes had been solidly higher until the market’s afternoon swoon.

The wild movements are partly the result of investors struggling to handicap how much damage the newest coronavirus variant will do to the economy. Markets were already headed lower Wednesday afternoon when the White House announced that the first case of the omicron variant had been found in the U.S., in a person who recently had returned from South Africa.

“Investors are going to have to get used to the idea that this is not going to be the last variant,” said Liz Young, chief investment strategist at SoFi. “This is likely something that is with us for a while and we have to learn to live with it and manage growth from an investment standpoint.”

Another weight dropped on Wall Street Tuesday when the head of the Federal Reserve said that it may halt its immense support for financial markets sooner than expected amid persistently high inflation sweeping the world.

But since climbing out of its early 2020 collapse caused by the first wave of COVID-19, one hallmark of the stock market’s powerful run has been the continued willingness by bargain-hunting investors to buy following any dip in prices. That lasting habit has helped the S&P 500 set 66 all-time highs so far in 2021, the second-most on record for a year, according to S&P Dow Jones Indices.

It also helped the Dow initially climb 520 points Wednesday. The blue chip index ended up dropping 461.68 points to 34,022.04. The Nasdaq slid 283.64 points to 15,254.05, while the S&P 500 fell 53.96 points to 4,513.04.

Smaller company stocks fared worse than the broader market. The Russell 2000 index fell 51.49 points, or 2.3%, to 2,147.42. It had been up as much as 2.5% earlier.

Longer-term Treasury yields initially recovered some of their sharp drops from the day before, triggered by worries about slowing economic growth. But the rebound didn’t last. The yield on the 10-year Treasury slid to 1.41% from 1.44% late Tuesday, when it fell from 1.52%.

Some better-than-expected data on the economy failed to avert the late-day wave of selling. A report from the Institute for Supply Management showed that growth in the U.S. manufacturing sector accelerated a touch faster last month than economists expected.

A separate report from payroll processor ADP said that non-government employers hired more people in November than economists expected. That could raise expectations for Friday’s more comprehensive jobs report from the U.S. government, though the ADP report doesn’t have a perfect track record predicting it.

A stronger economy would burn more fuel, and crude oil prices initially rose, briefly sending Benchmark U.S. crude 2.1% higher. But it shed those gains, closing down 0.9% at $65.57 per barrel. It momentarily dropped below $65 the day before.

Vertex Pharmaceuticals rallied 9.7% for the biggest individual gain in the S&P 500 after it reported encouraging data from a study of its investigational treatment for kidney disease. More than 80% of stocks in the S&P 500 fell.

Travel stocks had some of the biggest swings Wednesday. Norwegian Cruise Line climbed 4.6% in morning trading, but ended with an 8.8% loss. American Airlines flipped from a 3.1% gain to an 8% loss.

A measure of fear on Wall Street jumped 14.5%. The VIX, which shows how worried investors are about upcoming drops for the S&P 500, is still well above where it was before omicron walloped markets worldwide after Thanksgiving.

“The biggest driver of the near-term volatility has been omicron,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. “It clouds near-term visibility, and it’s just simply too early to tell the extent to which it will evade existing vaccines and how severe it will be relative to other mutations. It’s the big unknown.”

The possibility of less help for markets from the Fed continues to hang over Wall Street. Chair Jerome Powell said Tuesday the central bank will consider an earlier halt to its monthly purchases of bonds, which are meant to goose the economy by keeping rates low for mortgages and other long-term loans.

That would open the door for the Fed to raise short-term interest rates, diluting one of the main reasons for the S&P 500′s more than doubling since late March 2020. Low rates encourage investors to pay higher prices for stocks and have helped deflect criticism that the market had become too expensive. So a faster ramp up in short-term rates threatens stocks, but analysts say it could also be an encouraging signal about the Fed’s confidence in the economy’s strength.

Analysts also warn that the market is likely to remain jumpy until more clarity arrives on omicron’s ultimate impact. With no answer yet on the effectiveness of vaccines against the variant, it’s only a guess on whether governments will reinstate tough restrictions, people will be scared away from businesses or inflation will worsen.

ASX 200 expected to fall​The Australian share market looks set to fall again on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 26 points or 0.35% lower this morning. 

Another roller-coaster ride on Wall Street whipsawed investors Wednesday as an early market rally reversed course by mid afternoon, piling up more losses for stocks. 

On closing the Dow Jones was down 1.34%, the S&P 500 down 1.18%, and the Nasdaq down 1.86%. US markets were up materially until a case of Omicron was confirmed in the US


----------



## bigdog

https://apnews.com/article/coronavi...-sydney-asia-3e4782ce264310e488d5e183db3c705c

*Broad rally lifts US stocks after run of volatile trading*

By DAMIAN J. TROISE and ALEX VEIGA

A broad rally on Wall Street pushed stocks higher Thursday, giving the S&P 500 its best day in seven weeks as the market recouped some of its losses after a several days of volatile trading.

The benchmark index rose 1.4%, its biggest gain since mid-October. The Dow Jones Industrial Average rose 1.8%, its best showing since early March. The tech-heavy Nasdaq rose 0.8%, held back in part by a modest drop in Apple.

Smaller company stocks, which have lost the most ground this week, outpaced the broader market, sending the Russell 2000 index 2.7% higher.

The market rebound comes as investors try to gauge the amount of damage the omicron variant of COVID-19 might inflict on the economy, as well as measures that the U.S. and other governments are taking to restrain it. Trading has been choppy all week and, despite the latest gains, every major index is on track for a weekly loss.

The heavy selling in recent days may have presented too tempting an opportunity for traders, said said Jay Hatfield, CEO of Infrastructure Capital Advisors.

“It’s bargain-hunting after an overreaction,” Hatfield said. “Clearly the Fed and the variant are overhanging on the market, but the fundamentals are very strong and the Fed is still injecting liquidity into the market.”

The S&P 500 rose 64.06 points to 4,577.10. The index has been on a roller coaster ride throughout the week. It was up as much as 1.9% Wednesday before skidding and closing 1.2% lower.

The Dow gained 617.75 points to 34,639.79. The Nasdaq added 127.27 points to 15,381.32. The Russell 2000 picked up 58.91 points to 2,206.33.

The latest coronavirus variant has led countries to impose barriers to travel and stricter restrictions on business and people. Concerns about global restrictions potentially crimping economic growth butted up against concerns about rising inflation this week. The persistence of rising inflation has prompted the Federal Reserve to consider withdrawing stimulus measures sooner than expected.

Wall Street will likely remain jumpy until investors have more information on how contagious the new variant is and how well current vaccines will hold up against it.

More than 90% of companies in the S&P 500 index rose Thursday. Banks and other financial companies accounted for a big slice of the gains. Bank of America rose 2.9% and American Express rose 4.5%.

Technology companies also rose, but the gains were crimped by a 0.6% drop from Apple after the iPhone maker reportedly warned suppliers that it is seeing weak demand ahead of the holiday season.

Bond yields rose. The yield on the 10-year Treasury rose to 1.44% from 1.43% late Wednesday.

U.S. crude oil prices rose 1.4%. OPEC and allied oil-producing countries have decided to maintain the amount of oil they pump to the world even as the new omicron variant potentially threatens the economy. Energy companies gained ground. Chevron rose 2.7%.

Travel-related companies, which got hammered earlier this week as worries about the new coronavirus variant swept markets, rebounded Thursday. American Airlines climbed 7%, while Delta Air Lines rose 9.3%. Cruise line operators Carnival and Norwegian Cruise Line jumped 9.2% and 7.7%, respectively.

Several companies made outsized gains on a mix of corporate news. Supermarket chain Kroger jumped 11% for the biggest gain in the S&P 500 after raising its profit forecast for the year. Software maker Synopsys gained 4.5% after also giving investors an encouraging profit forecast.

Boeing rose 7.5% after China’s aviation regulator cleared the airplane maker’s 737 Max to return to flying with technical upgrades.

Southeast Asia’s largest ride-hailing company Grab fell 20.5% in its market debut Thursday, following a $40 billion merger in a special purpose acquisition company deal.

ASX 200 expected to rebound​The Australian share market looks set to end the week in a positive fashion. According to the latest SPI futures, the ASX 200 is expected to open the day 61 points or 0.85% higher this morning. 

A broad rally on Wall Street pushed stocks higher Thursday, giving the S&P 500 its best day in seven weeks as the market recouped some of its losses after a several days of volatile trading.

On closing the Dow Jones was up 1.82%, the S&P 500 up 1.42% and the Nasdaq up 0.83%.


----------



## noirua

AMERICAN STOCK EXCHANGE
Historical Timeline


			https://www.nyse.com/publicdocs/American_Stock_Exchange_Historical_Timeline.pdf


----------



## bigdog

https://apnews.com/article/coronavi...yo-hong-kong-3d956448e885cf73014a55b4a77b7f6f

*Stocks slump after murky jobs report as markets swing*

By STAN CHOE and ALEX VEIGA

A week of volatile swings on Wall Street ended Friday with more losses for stocks, as a mixed batch of U.S. job market data triggered another bout of dizzying trading.

The S&P 500 closed 0.8% lower after erasing a 0.7% gain in the early going. The benchmark index was coming off a jolting stretch where it swerved by at least 1.2% in five straight days, pounded by uncertainty about how badly the newest coronavirus variant will hit the economy and about when the Federal Reserve will halt its immense support for financial markets.

The Dow Jones Industrial Average slipped 0.2% and the Nasdaq composite lost 1.9%. The Russell 2000 index of company stocks slumped 2.1%. All the indexes also posted a weekly loss.

Treasury yields fell, rose and then fell again as investors struggled to square what the jobs report means the Federal Reserve will do on interest rates. The erratic movements fit right in with a week where the S&P 500 swung from a 1.9% gain to a 1.2% loss in one day.

“We got some mixed messages on the data” from the jobs report, “and that can make for some messy markets,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments.

The report, which is usually the most anticipated economic data by Wall Street each month, showed employers added only 210,000 jobs last month. It was a disappointing result when economists were expecting much stronger hiring of 530,000, and it raised worries the economy may stagnate while inflation remains high. That’s a worse-case scenario called “stagflation” by economists, and the omicron variant’s arrival makes its likelihood more uncertain.

But other areas of the jobs report showed better strength. More people are coming back to the workforce, and the unemployment rate improved to 4.2% from 4.6%.

Those encouraging numbers helped Treasury yields briefly climb during the morning. But they also came from a section of the jobs report that usually takes a back seat in investors’ eyes to the jobs-growth figure. That’s because they come from different surveys, one of employers and the other of households, and many investors see the job-growth numbers as the more reliable ones historically.

“Today’s non-farm payroll report looks messy to me,” said Jamie Cox, managing partner for Harris Financial Group. “Best to wait for the revisions next month before sounding the stagflation alarm too loudly.”

Some investors said the jobs report could ultimately push the Fed to get more aggressive about raising short-term interest rates off their record low. Others, though, said they expected the mixed report to have no effect, and the wide differences in opinion helped lead to the day’s sharp swings in the market.

What the Fed decides is a huge deal for stocks because low interest rates have been one of the main reasons the S&P 500 has roughly doubled since the early days of the pandemic. Low rates encourage borrowers to spend more and investors to pay higher prices for stocks.

The Fed has already begun slowing, or tapering, its program to buy billions of dollars of bonds each month to support the economy and markets. Chair Jerome Powell jolted markets earlier this week when he said the Fed could wrap up its bond-buying program months before the June target it had been on pace for. That would open the door for the Fed to make the more impactful decision of raising short-term rates.

“With the headlines on omicron and then figuring out if a faster taper also means a sooner hike — and investors worrying if the Fed is going to make a mistake — it’s to be expected we’re going to see some of this volatility,” said Allspring Global Investments’ Jacobsen.

Consider the yield on the two-year Treasury, which is heavily influenced by investors’ expectations for upcoming Fed actions. It fell, then recovered briefly, only to slide to 0.59%. That’s down from 0.63% late Thursday.

The 10-year Treasury yield, which moves more on investors’ expectations for upcoming economic growth and inflation, was likewise unsteady. It zig-zagged immediately after the jobs report’s release and fell to 1.36% by late afternoon, down from 1.44% Thursday evening.

About 60% of the stocks in the S&P 500 fell, with some of Wall Street’s biggest recent stars offering the heaviest weights.

Microsoft fell 2%, Nvidia slid 4.5% and Tesla dropped 6.4%. They were part of a turnaround for high-growth companies that earlier had led the market on expectations they could keep growing even if the economy was slow.

Energy futures mostly fell. The price of U.S. crude oil slid 0.4%. Energy stocks fell broadly. Exxon Mobil dropped 0.6%.

All told, the S&P 500 fell 38.67 points to 4,538.43. The Dow dropped 59.71 points to 34,580.08. The blue chip index pinballed between a gain of 161 points to a loss of 375. The Nasdaq fell 295.85 points to 15,085.47, while the Russell 2000 gave up 47.02 points to 2,159.31.

Chinese ride-hailing service Didi Global Inc. said Friday it will pull out of the New York Stock Exchange and shift its listing to Hong Kong as the ruling Communist Party tightens control over tech industries.

The Securities and Exchange Commission has moved to require that U.S.-listed foreign stocks like Didi’s disclose their ownership structures and audit reports, which could lead to some of them being delisted.


----------



## bigdog

ASX 200 expected to rise​The Australian share market looks set to start the week on a mildly positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 11 points or 0.15% higher this morning. 

This is despite a very red end to the week on Wall Street, which saw the Dow Jones fall 0.17%, the S&P 500 drop 0.84%, and the Nasdaq tumble 1.92%.


----------



## bigdog

https://apnews.com/article/business-china-asia-australia-tokyo-2eac49f604b1da18cb450d62773015b8

*Stocks rise broadly on Wall Street, travel companies rebound*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks rose broadly on Wall Street Monday, nearly reversing the S&P 500′s losses from last week, when jitters over a new coronavirus variant roiled markets.

The benchmark index rose 1.2%. More than 85% of stocks in the index gained ground, with technology companies and banks accounting for a large slice of the gains. The rally also included airlines, cruise lines and other travel-related companies that stand to benefit from the economy staying clear of more pandemic-related restrictions.

The Dow Jones Industrial Average rose 1.9%, while the Nasdaq composite gained 0.9%. Small-company stocks outpaced the broader market, sending the Russell 2000 index 2% higher. Long-term bond yields rose, also making up a big portion of what they lost last week.

Wall Street was encouraged by comments from Dr. Anthony Fauci, the White House’s chief medical adviser, who said early indications suggested that the omicron variant of COVID-19 may be less dangerous than the delta variant. It will still take a few weeks to learn whether omicron is more contagious, causes more severe illness or evades immunity.

“The COVID concerns from last week maybe aren’t as pronounced, and some of the geopolitical tensions maybe are not quite as pronounced,” said Willie Delwiche, investment strategist at All Star Charts. “At least for a day, people feel better about it.”

The S&P 500 rose 53.24 points to 4,591.67. The Dow gained 646.95 points to 35,227.03. The Nasdaq rose 139.68 to 15,225.15. The Russell 2000 picked up 44.17 points to 2,203.48.

Bond yields rose, which benefits banks. The yield on the 10-year Treasury rose to 1.44% from 1.33% late Friday. JPMorgan Chase rose 1.2%.

Delwiche said that the rise in the 10-year bond yield says more about investors’ confidence in the economy than the pickup in stocks.

“Seeing yields in the 10-year get back above 1.40% is the most encouraging development,” he said. “It’s hard to make an optimistic case of the U.S. economy if yields are moving lower.”

U.S. crude oil prices rose 4.9% and helped send energy stocks higher. Exxon Mobil rose 1.1%.

Airlines, cruise operators and a wide range of travel-related companies made solid gains. Norwegian Cruise Line vaulted 9.5% for the biggest gain in the S&P 500. Rivals Carnival and Royal Caribbean jumped 8.1% and 8.2%, respectively.

American Airlines climbed 7.9%, while United Airlines gained 8.3%. Expedia Group rose 6.7%. The travel industry has been under pressure over concerns about the latest coronavirus variant and the potential for it to crimp economic activity in the midst of the busy holiday season.

Shares in COVID-19 vaccine makers fell. Moderna slid 13.5% for the biggest decline among S&P 500 stocks. Pfizer dropped 5.1% and BioNTech slumped 18.7%.

The stock market is coming off of a choppy week as investors gauged the threat from COVID-19, along with a mixed batch of job market data and lingering inflation concerns. The S&P 500 posted two straight weekly losses heading into this week. The benchmark index is up 22.3% for the year.

Investors are still reacting to the Federal Reserve’s plan to hasten the withdrawal of its support for the market and economy, said Michael Arone, chief investment strategist at State Street Global Advisors.

The central bank plans to speed up the pace at which it trims bond purchases, which have helped keep interest rates low. That has raised concerns that the Fed will raise its benchmark interest rates next year sooner than expected.

“What you’re seeing now is that is being priced into markets and that underlying shift in expectations is starting to play out in market leadership,” Arone said.

Banks and other sectors that benefit from higher interest rates are starting to lead the market higher, while industries that typically suffer from higher rates, like technology stocks, are lagging, he said.

Investors will get more economic data this week that could help give them a clearer picture of the economy.

The Labor Department will release its job openings and labor turnover survey for October on Wednesday, along with its weekly unemployment benefits report on Thursday. Wall Street will get another update on inflation when the Labor Department releases the Consumer Price Index for November on Friday.

A mix of corporate news helped send several stocks higher. Del Taco Restaurants surged 66.1% on news it is being bought by Jack in the Box.

Department store operator Kohl’s rose 5.4% after activist investor Engine Capital LP pushed for a sale or spin off.

BuzzFeed fell 11% in its market debut after the digital media company went public through a merger with a special purpose acquisition company.

The price of Bitcoin, which fell sharply on Friday, steadied by late afternoon Monday, edging up 0.1% to $48,947, according to Coindesk.

ASX 200 expected to rise​ The Australian share market looks set to rise on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 33 points or 0.45% higher this morning. 

Stocks rose broadly on Wall Street Monday, nearly reversing the S&P 500′s losses from last week, when jitters over a new coronavirus variant roiled markets. On closing the Dow Jones was up 1.87%, the S&P 500 up 1.17%, and the Nasdaq trading 0.93% higher.


----------



## bigdog

https://apnews.com/article/coronavi...yle-business-4d3d08664cf8828dd351689bc4fc5c9a

*Stocks build on their gains and open higher on Wall Street*

The Associated Press

Stocks are off to a solid start on Wall Street Tuesday as investors continue to wager that the new variant of the COVID-19 virus won’t pose a big threat to the economy. The S&P 500 rose 1.4% in the first few minutes of trading, adding to its gains from a day earlier. The tech-heavy Nasdaq rose 2%, and small-company stocks also posted gains. Safe-play sectors like utilities lagged the rest of the market. Treasury yields rose and crude oil prices climbed about 3%. European markets were also solidly higher, and Asian markets closed higher overnight.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

BEIJING (AP) — Global stock markets followed Wall Street higher Tuesday as anxiety about the coronavirus’s latest variant eased and China reported stronger November trade figures than expected.

London and Frankfurt opened higher. Shanghai, Tokyo and Hong Kong advanced. Oil prices rose more than $1 a barrel for a second day.

Wall Street futures were higher after the chief White House medical adviser said Monday the omicron variant might be less dangerous. That might allow travel and business restrictions to ease.

Reports from South Africa, where omicron first was spotted, that hospitals haven’t been overwhelmed “is fueling some optimism” among traders who sold earlier, said Yeap Jun Rong of IG in a report.

In early trading, the FTSE 100 in London gained 1% to 7,302.61 and Frankfurt’s DAX advanced 1.6% to 15,623.97. The CAC 40 in Paris added 1.7% to 6,982.63.

On Wall Street, the S&P 500 future was up 1% and that for the Dow Jones Industrial Average advanced 0.8%.

On Monday, the S&P 500 rose 1.2% while the Dow added 1.9%. The Nasdaq composite gained less than 0.1%.

In Asia, the Shanghai Composite Index rose 0.2% to 3,595.09 after November imports surged 31.7% over a year earlier in a sign domestic demand might be strengthening.

The Nikkei 225 in Tokyo gained 1.9% to 28,455.60 and Hong Kong’s Hang Seng added 2.6% to 23,983.66.

The Kospi in Seoul advanced 0.6% to 2,991.72 and Sydney’s S&P-ASX 200 gained 1% to 7,313.90.

India’s Sensex rose 2% to 57,871.21. New Zealand and Southeast Asian markets gained.

On Wall Street, more than 85% of stocks in the S&P 500 rose Monday, led by technology and banks.

Airlines, cruise lines and other travel companies that stand to gain from avoiding more anti-coronavirus controls advanced after Dr. Anthony Fauci said early indications suggested omicron may be less dangerous than the earlier delta variant.

It will still take a few weeks to learn whether omicron is more contagious, causes more severe illness or evades immunity.

Investors also are factoring mixed U.S. jobs data and the Federal Reserve’s plan to accelerate its withdrawal of stimulus to cool inflation pressures.

The U.S. government is due to report November consumer inflation on Friday.

In energy markets, benchmark U.S. crude rose $1.58 to $71.07 per barrel in electronic trading on the New York Mercantile Exchange. The contract jumped $3.23 on Monday to $69.49. Brent crude, the price basis for international oils, added $1.41 to $74.49 per barrel in London. It surged $3.20 the previous session to $73.08 per barrel.

The dollar rose to 113.70 yen from Monday’s 113.49 yen. The euro declined to $1.1266 from $1.1278.


ASX 200 expected to rise again​The Australian share market looks set to continue its positive run on Wednesday following another strong night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 53 points or 0.7% higher this morning. 

On closing in the United States, the Dow Jones was up 1.40%, the S&P 500 is up 2.07%, and the Nasdaq is trading a massive 3.03
% higher.


----------



## bigdog

https://apnews.com/article/coronavirus-pandemic-business-health-tokyo-asia-4a2a94c292b93fabc023e2e15fce8f3ehttps://apnews.com/article/coronavirus-pandemic-business-health-tokyo-asia-4a2a94c292b93fabc023e2e15fce8f3e

*Stocks end modestly higher after a choppy day of trading*

By DAMIAN J. TROISE and ALEX VEIGA

Major stock indexes weathered a bout of choppy trading on Wall Street Wednesday and closed higher for the third day in a row.

The S&P 500 rose 0.3%, with 62% of the stocks within the benchmark index closing higher. The muted trading followed a strong start to the week that included the index’s biggest gain since March. With the latest gain, the S&P 500 has now recovered all of its losses from its two-week skid heading into this week.

The Dow Jones Industrial Average bounced back from an early drop to eke out a 0.1% gain, while the Nasdaq composite rose 0.6%.

Markets had slipped the previous two weeks over several concerns, including rising inflation, the newest coronavirus variant and how both issues could impact economic growth. Stocks steadied this week following comments from Dr. Anthony Fauci, the White House’s chief medical adviser, who on Monday said early indications suggested that the omicron variant may be less dangerous than delta.

“The generally more confident tone is a function of omicron news,” said Liz Ann Sonders, chief investment strategist at Charles Schwab. “Regardless of what’s happening, it’s still amazing to see all the flip-flopping happening at the sector level.”

The choppiness in the market will likely persist through December, she said.

The S&P 500 rose 14.46 points to 4,701.21, and is now up 25.2% for the year. The Dow gained 35.32 points to 35,754.75. The blue chip index swung between a loss of 116 and a gain of 121.

The tech-heavy Nasdaq had also been down in the early going before bouncing back to gain 100.07 points and end at 15,786.99.

Smaller company stocks outpaced the rest of the market. The Russell 2000 rose 17.92 points, or 0.8%, to 2,271.71.

A wide range of travel-related companies gained ground in a sign that investors are confident that the industry will continue its recovery despite the threat from the omicron variant of COVID-19.

Norwegian Cruise Line jumped 8.2% for the biggest gain in the S&P 500, while rivals Carnival rose 5.5% and Royal Caribbean gained 5.2%. United Airlines rose 4.2% and Las Vegas Sands added 4.4%.

Technology companies accounted for a big slice of the S&P 500′s gains, though Apple’s 2.3% rise did a lot of the heavy lifting as its weighting gives it a large influence on the sector. Other big tech companies fell, including chipmaker Nvidia, which dropped 1.9% and Intel, which closed 1.6% lower.

Communications and health care stocks made solid gains. Facebook parent Meta Platforms rose 2.4% and Twitter rose 2.8%. UnitedHealth Group rose 0.9%.

Financial stocks were the biggest laggards. JPMorgan Chase fell 1.1% and Bank of America slid 1.2%.

Energy futures rose. The price of U.S. crude oil gained 0.4%, though energy stocks were mixed.

Bond yields rose. The yield on the 10-year Treasury rose to 1.52% from 1.48% late Tuesday.

Markets in Asia were mostly higher. Tokyo’s Nikkei gained 1.4% as economists are forecasting a rebound for the world’s third largest economy in the current quarter after coronavirus caseloads plummeted.

Markets in Europe fell. Germany’s Dax shed 0.8% as Germany’s parliament elected Olaf Scholz as the country’s ninth post-World War II chancellor, opening a new era for the European Union’s largest economy after Angela Merkel’s 16-year tenure.

Investors could get more insight into how the economy is faring later this week and next week. On Friday, the Labor Department will give an update on how rising prices are impacting consumers with the release of its Consumer Price Index for November.

The Federal Reserve is scheduled to hold a two-day meeting of policymakers next week that could offer an update on the central bank’s plans to tackle inflation. The Fed has said it plans to speed up the pace at which it trims its bond purchases, which have helped keep interest rates low. That has raised concerns that the Fed will raise its benchmark interest rates next year sooner than expected.

*ASX 200 expected to fall*
The Australian share market looks set to give back some of its recent gains on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 40 points or 0.55% lower this morning. 

Major stock indexes weathered a bout of choppy trading on Wall Street Wednesday and closed higher for the third day in a row. On closing the Dow Jones was up 0.1%, the S&P 500 up 0.31%, and the Nasdaq up 0.64%.


----------



## bigdog

https://apnews.com/article/business-stock-markets-asia-sydney-china-e494d70205a5fba6c4b618351bda3058

*Stocks close lower on Wall Street as rally momentum cools*

By DAMIAN J. TROISE and ALEX VEIGA

A sell-off on Wall Street left stocks broadly lower Thursday, giving back some of the market’s gains from a three-day winning streak.

The S&P 500 fell 0.7%, with more than three-fourths of the companies in the benchmark index closing lower. The tech-heavy Nasdaq composite fell 1.7%, while the Dow Jones Industrial Average slipped less than 1 point.

Small-company stocks fell more than the rest of the market, sending the Russell 2000 index 2.3% lower. Roughly three stocks fell for every one that rose on the New York Stock Exchange.

The pullback follows a 3.6% gain for the S&P 500 index over the first three days of the week, largely in response to easing worries about the omicron variant of the COVID-19 virus. That marked an about-face for stocks following two weeks of losses over concerns about rising inflation and the coronavirus potentially crimping economic growth.

Investors welcomed reports this week of early indications suggesting the omicron variant may be less dangerous than delta, including word from Pfizer that its lab tests suggest the drugmaker’s COVID-19 boosters provide protection against the new strain.

“Today, because of that, folks are taking a little bit of a breather to gauge other information that could suggest a more sustained direction for the market, particularly on the economic data front,” said Greg Bassuk, CEO of AXS Investments.

The S&P 500 fell 33.76 points to 4,667.45. The Dow slipped less than 1 point to 35,754.69. The Nasdaq fell 269.62 points to 15,517.37. The Russell 2000 gave up 51.50 points to 2,220.71. Every major index is still on track for a weekly gain.

Technology stocks and a mix of retailers and other companies that rely on direct consumer spending weighed on the S&P 500 the most. Chipmaker Nvidia fell 3.4%, while Tesla slid 6.1% for the biggest drop in the index.

Travel-related companies slipped after spending the last few days gaining ground. Carnival fell 1.7% and United Airlines fell 1.8%.

Bond yields fell slightly. The yield on the 10-year Treasury fell to 1.49% from 1.51% late Wednesday.

Energy futures closed mostly lower. The price of U.S. crude oil fell 2% and helped pull energy stocks lower. Devon Energy fell 4%.

Health care companies rose. CVS Health climbed 4.5% after raising its dividend and issuing a solid forecast. Pfizer, which has been touting the potential benefits of a vaccine booster against the latest COVID-19 variant, rose 1.3%.

Investors received an encouraging update on job market’s recovery. The Labor Department reported that the number of Americans applying for unemployment benefits plunged last week to the lowest level in 52 years.

The employment market’s recovery has been a key focus for Wall Street while it gauges the strength of the economy as it moves past the virus pandemic. Rising inflation has been another focus, and investors will get an update Friday when the Labor Department releases its Consumer Price Index for November.

The latest inflation data comes ahead of the Federal Reserve’s two-day meeting of policymakers next week. Rising inflation has prompted the central bank to speed up the pace at which it trims its bond purchases, which have helped keep interest rates low. That has raised concerns that the Fed will raise its benchmark interest rates next year sooner than expected.

ASX 200 expected to fall​The Australian share market looks set to end the week in a subdued fashion. According to the latest SPI futures, the ASX 200 is expected to open the day 8 points or 0.1% lower this morning. 

A sell-off on Wall Street left stocks broadly lower Thursday, giving back some of the market’s gains from a three-day winning streak.  On closing the Dow Jones was breakeven, but the S&P 500 down 0.72% and the Nasdaq down 1.71%.


----------



## bigdog

https://apnews.com/article/business-asia-sydney-tokyo-stock-markets-78462a5b9271ebf28f7c94bd5e335155

*Stocks end higher, closing out best week since February*

By ALEX VEIGA

Technology companies led a rally on Wall Street that powered the S&P 500 to an all-time high and gave the index its best weekly gain since February.

The S&P 500 rose 1%, enough to recoup its losses from a day earlier. The benchmark index closed higher four of the last five days, finishing 3.8% higher for the week.

The Dow Jones Industrial Average rose 0.6% and the Nasdaq composite gained 0.7%, both recovering from declines in the early going. Smaller-company stocks lagged the broader market, leaving the Russell 2000 index 0.4% lower.

A late wave of buying solidified the gains for the market, which had wavered between small gains and losses in morning trading after the government reported another big rise in inflation last month.

The Bureau of Labor Statistics said prices for U.S. consumers jumped 6.8% in November compared with a year earlier. Surging costs for food, energy, housing and other items have left Americans enduring their highest annual inflation rate since 1982. Core prices, which exclude food and energy, rose 4.9% year over year.

Still, markets were relieved to see that the report was in line with expectations.

“Many have felt the effects of inflation in their day-to-day, so this likely isn’t a huge shocker to the market,” said Mike Loewengart, managing director, investment strategy at E-Trade.

The S&P 500 rose 44.57 points to 4,712.02, a new high. It set its previous record high on Nov. 18.

The Dow gained 216.30 points to 35,970.99. The tech-heavy Nasdaq rose 113.23 points to 15,630.60. The Russell 2000 fell 8.40 points to 2,211.81. The indexes all posted weekly gains.

The latest inflation data comes ahead of the Federal Reserve’s two-day meeting of policymakers next week. Rising inflation has prompted the central bank to speed up the pace at which it trims its bond purchases, which have helped keep interest rates low.

Federal Reserve Chair Jay Powell has suggested the central bank could move more quickly to pare back, or taper, the amount of bonds it’s been purchasing each month to keep long-term interest rates low.

Analysts say the elevated inflation figures ramp up the pressure on the Fed to follow through on Powell’s comments. Many investors also expect the Fed to start raising interest rates from current ultra-low levels starting in the middle of next year.

“The inflation print from this morning will reinforce the Fed’s resolve to accelerate tapering. With the strength in the economic recovery, it is time to take the crutches away,” said Anu Gaggar, global investment strategist for Commonwealth Financial Network.

Apart from a decline Thursday, stocks have bounced back this week following two weeks of volatile trading that left the S&P 500 with back-to-back weekly losses. The index has now recovered most of the losses after the discovery of the omicron variant of COVID-19 was announced last month. It’s now up 25.5% for the year.

Investors’ worries over omicron eased this week amid encouraging signs that the variant may be less dangerous than delta. Pfizer said this week that its lab tests suggest the drugmaker’s COVID-19 boosters provide protection against the new strain.

More than 70% of the stocks in the S&P 500 rose, with technology companies doing most of the heavy lifting. Business software maker Oracle surged 15.6% for the biggest gain in the S&P 500 after reporting strong quarterly results. Microsoft and Apple each rose 2.8%.

Makers and sellers of household goods also helped lift the S&P 500. Costco climbed 6.6%, while Coca-Cola rose 2.6%.

Energy futures closed higher. The price of U.S. crude oil rose 1%. That helped give a modest boost to energy sector stocks in the S&P 500. Devon Energy rose 2.6%.

The yield on the 10-year Treasury note fell to 1.48% from 1.51% just before the inflation report came out. The yield on the two-year note dropped to 0.66%.


----------



## bigdog

ASX 200 expected to rise​ 
The Australian share market looks set to start the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 13 points or 0.2% higher this morning. 

This follows a positive end to the week on Wall Street, which saw the Dow Jones rise 0.6%, the S&P 500 climb 0.95%, and the Nasdaq push 0.7% higher.


----------



## bigdog

https://apnews.com/article/business-china-stock-markets-asia-sydney-23367ab5aa7359ba8cff6a7feb561c0b

Stocks pull back from records, weighed down by tech, energy​By DAMIAN J. TROISE and ALEX VEIGA

Technology and energy companies helped pull stocks lower on Wall Street Monday, a downbeat start to the week following the market’s best weekly gain since February.

The S&P 500 fell 0.9%, giving back some of its gains after the benchmark index climbed to an all-time high Friday. The Dow Jones Industrial Average fell 0.9%, while the tech-heavy Nasdaq composite slid 1.4%.

Small-company stocks fared worse than the broader market in a signal that investors are concerned about economic growth. The Russell 2000 shed 1.4%.

The market’s pullback, with the S&P 500 fresh off its 67th all-time high this year, comes as investors look ahead to the Federal Reserve’s latest economic and interest rate policy update on Wednesday. Markets expect the central bank will announce plans to accelerate its timetable for reducing bond purchases aimed at keeping long-term interest rates low.

“What the Street is not sure about is when the Fed will actually start to raise interest rates,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 fell 43.05 points to 4,668.97. The Dow slid 320.04 points to 35,650.95. The Nasdaq dropped 217.32 points to 15,413.28. The Russell 2000 gave up 31.31 points to 2,180.50.

Stocks have been mostly pushing higher, despite a volatile stretch in late November as worries about the rise of the omicron variant of the coronavirus initially roiled markets. Some of those concerns eased last week amid encouraging signs that the variant may be less dangerous than delta.

But remarks by U.K. Prime Minister Boris Johnson over the weekend may have dampened some traders’ optimism. Johnson warned Sunday that Britain faces a “tidal wave” of infections from the omicron variant, and announced a huge increase in booster vaccinations to strengthen defenses against it.

Several big pharmaceutical companies, including COVID-19 vaccine makers Moderna and Pfizer were among the biggest gainers in the S&P 500 Monday. Moderna jumped 5.8% for the biggest gain in the index. Pfizer rose 4.6% following news it is buying Arena Pharmaceuticals.

More than 60% of the stocks in the S&P 500 fell, with technology stocks, banks and a mix of companies that rely on consumer spending weighing the index down most. Nvidia fell 6.8% for the biggest drop in the S&P 500. Bank of America dropped 2.1% and General Motors slid 6.5%.

Energy stocks took some of the heaviest losses as the price of U.S. crude oil fell 0.5%. Devon Energy slid 5.4%.

Automakers and travel-related companies also fell. Ford lost 4.8% and Carnival dropped 4.9%.

Bond yields fell. The yield on the 10-year Treasury fell to 1.41% from 1.49% late Friday. That weighed on banks, which rely on higher bond yields to charge more lucrative interest on loans. Capital One fell 2.9%.

Harley-Davidson rose 4.7% after saying it will take its electric motorcycle division public through a blank-check company, valuing the enterprise that has been part of the motorcycle maker for 10 years at $1.77 billion.

In addition to the Federal Reserve’s policy statement, investors will be monitoring several economic reports this week to gain more insight into economic growth as 2021 comes to a close and the world continues to try and shake off the impact from COVID-19.

Wall Street will get an inflation update on Tuesday when the Labor Department releases its Producer Price Index for November, which shows how inflation is impacting costs for businesses. That report will be especially important with the Fed meeting on Tuesday and Wednesday.

Persistently rising inflation has prompted the central bank to hasten its plan to trim bond purchases that have helped keep interest rates low. Investors will be listening for any statements that add detail to the timing of that plan and hints at how that might impact how soon benchmark interest rates are increased in 2022.

*ASX 200 expected to fall*

The Australian share market looks set to give back its gains on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 30 points or 0.4% lower this morning.

Technology and energy companies helped pull stocks lower on Wall Street Monday, a downbeat start to the week following the market’s best weekly gain since February. On closing the Dow Jones was down 0.89%, the S&P 500 down 0.91%, and the Nasdaq trading 1.39% lower.


----------



## bigdog

https://apnews.com/article/coronavi...usiness-asia-782ad3d6dec65daccfa946090ab6b247

*Wall Street closes lower following latest inflation report*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks fell broadly on Wall Street Tuesday as new data showing that inflation is still running high put a spotlight on what action the Federal Reserve will take as it holds its last meeting of the year.

The S&P 500 index fell 0.7%, adding to its losses from a day earlier. Nearly 70% of the companies in the benchmark index fell, led by technology stocks. Only financial sector stocks eked out a gain.

The Dow Jones Industrial Average dropped 0.3%, while the tech-heavy Nasdaq composite slid 1.1%. Smaller company stocks fell more than the broader market, closing 1% lower.

The selling came as investors received another update on persistently rising inflation. The Labor Department reported that prices at the wholesale level surged by a record 9.6% in November from a year earlier. The department’s producer price index measures inflation before it reaches consumers.

Businesses have been dealing with supply chain problems and higher costs for months. It has been a key concern for investors as big companies pass those costs off to consumers, who have so far been absorbing higher prices on everything from groceries to clothing and other consumer products. On Friday, the Labor Department reported that consumer prices surged 6.8% for the 12 months ending in November, the biggest increase in 39 years.

The discouraging reports on inflation precede the last two-day meeting of the Federal Reserve this year, which started Tuesday.

“What does the Fed do with this data?” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management. “That’s what investors are positioning around today.”

The S&P 500 fell 34.88 points to 4,634.09. The index set an all-time high on Friday, when it closed out its biggest weekly gain since February. The index is up 23.4% so far this year.

The Dow dropped 106.77 points to 35,544.18. The Nasdaq fell 175.64 points to 15,237.64. The Russell 2000 gave up 20.85 points to 2,159.65.

The Federal Reserve is expected to speed up the withdrawal of economic stimulus measures in the face of rising inflation. Specifically, it plans to speed up the process for trimming bond purchases, which have helped keep interest rates low and support the stock market and broader economy. Beyond that, investors are watching the central bank for any statements on how soon it might raise interest rates in 2022.

Rising inflation and the Fed’s plan to ease off its economic support are key reasons for much of the choppiness in the broader markets, said Jay Hatfield, CEO of Infrastructure Capital Advisors.

“The reality of less liquidity next year is sinking in and that’s causing massive selling in mostly overvalued momentum stocks,” he said.

Technology stocks led the market’s pullback Tuesday. Microsoft fell 3.3% and Adobe slid 6.6% for the biggest decline in the S&P 500.

“Anytime there’s the thought that the Fed may raise interest rates more than what’s priced into the market those sectors become weak in the near term,” Hainlin said.

A mix of retailers and several big communications companies also fell. Lowe’s Cos. fell 1.9% and Google parent Alphabet fell 1.3%.

Bond yields edged higher. The yield on the 10-year Treasury rose to 1.44% from 1.42%. That helped banks make gains, as they rely on higher yields to charge more lucrative interest on loans. JPMorgan Chase rose 0.8% and Bank of America rose 1.3%.

Energy sector stocks fell following a 0.8% drop in the price of U.S. crude oil. Hess fell 0.8%.

Wall Street is also closely monitoring any news on the newest coronavirus variant that is spreading rapidly in Britain and some other regions. It appears to cause less severe disease than previous versions of the coronavirus, according to an analysis of data from South Africa. Pfizer’s vaccine seems to offer less defense against infection from it but still offers good protection from hospitalization.

ASX 200 expected to fall​ The Australian share market looks set to fall on Wednesday following a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 44 points or 0.6% lower this morning. 

Stocks fell broadly on Wall Street Tuesday as new data showing that inflation is still running high put a spotlight on what action the Federal Reserve will take as it holds its last meeting of the year.  On closing in the United States, the Dow Jones was down 0.3%, the S&P 500 is down 0.75%, and the Nasdaq is trading 1.14% lower.


----------



## bigdog

https://apnews.com/article/coronavi...g-kong-seoul-09671fb957af520b5d57ab0638448824

*Stocks end higher after Fed accelerates stimulus pullback*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies led a rally for stocks on Wall Street Wednesday after the Federal Reserve said it would accelerate its pullback of economic stimulus and likely raise interest rates three times next year to tackle rising inflation.

The central bank plans to shrink its monthly bond purchases at twice the pace it previously announced, likely ending them altogether in March. The bond purchases were intended to hold down long-term rates to aid the economy but are no longer needed with unemployment falling and inflation at a near-40-year high. The accelerated timetable puts the Fed on a path to start raising rates as early as the first half of next year.

The major stock indexes rose tentatively after having been down before the release of the Fed’s statement at 2 p.m. Eastern, then gained momentum toward the end of the day. The S&P 500 rose 1.6%, nearly recouping all of its losses from the previous two days. The benchmark index ended just below the record high it set last Friday.

The Dow Jones Industrial Average rose 1.1% and the tech-heavy Nasdaq composite gained 2.2%. The Russell 2000 index of smaller-company stocks rose 1.6%. Bond yields edged higher.

The central bank’s policymakers, holding their last meeting of the year, had been widely expected to announce a faster pullback of its stimulus measures as inflationary pressures build.

“The market is interpreting this as no big surprise,” said Liz Young, chief investment strategist at SoFi. “The market was more worried about inflation.”

Businesses have been dealing with supply chain problems and higher costs for months. It has been a key concern for investors as big companies pass those costs off to consumers, who have so far been absorbing higher prices on everything from groceries to clothing and other consumer products.

On Tuesday, the Labor Department reported that prices at the wholesale level surged 9.6% in November from a year earlier. The department’s producer price index measures inflation before it reaches consumers. That followed a report Friday showing that consumer prices surged 6.8% for the 12 months ending in November, the biggest increase in 39 years.

By speeding the reduction in its bond purchases and signaling three rate hikes next year, the central bank “is signaling that it is taking inflation seriously and, so far, the market believes that the Fed will successfully fight inflation,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance.

Bond investors had a more measured reaction to the Fed announcement. Bond yields edged higher, with the yield on the 10-year Treasury rising to 1.45% from 1.44% late Tuesday.

Short-term Treasury yields have been rising in recent months with expectations for Fed rate increases. But the yield on the 10-year Treasury, which shows how investors are feeling about future economic growth and inflation, is still below where it was in the spring.

“Rates are warning the Fed not to go too far” and not to be overly aggressive in raising rates, said Scott Kimball, co-head of U.S. fixed income for BMO Global Asset Management. “The growth outlook based on the 10-year Treasury — what that’s implying is a cautionary story for the Fed.”

Concerns over the impact from the Fed’s actions, along with the latest coronavirus variant, have made for choppy trading as the market approaches the close of 2021. Even so, the S&P 500 is on up about 25% this year.

More than 80% of the stocks in the S&P 500 rose, with technology and health care companies accounting for much of the gains. Apple, which along with most technology stocks was coming off a two-day skid, rose 2.9%. Eli Lilly jumped 10.4% for the biggest gain in the S&P 500 after giving investors an encouraging update on its financial forecasts and drug development.

Retailers and other companies that rely on consumer spending recovered from an early slide. The sector had been down following the latest retail sales report from the Commerce Department. Sales rose a modest 0.3% in November, but fell short of economists’ forecasts amid concerns that rising costs could crimp consumer spending.

Investors should avoid placing too much value on the stock market’s immediate reaction to a Fed decision, Kimball warned.

“The initial reaction the day of can lead you astray,” he said. “I think you’ve seen some read-through from stocks that the economy’s growth component must be doing really well ... but the next few days are going to tell you more.”

ASX 200 expected to edge higher​ The Australian share market looks set to edge higher on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 7 points or 0.1% higher this morning. 

Technology companies led a rally for stocks on Wall Street Wednesday after the Federal Reserve said it would accelerate its pullback of economic stimulus and likely raise interest rates three times next year to tackle rising inflation.  On closing, the Dow Jones was up 1.08%, the S&P 500 up 1.63%, and the Nasdaq up 2.15%. Overnight the US Federal Reserve said it expects three rates hikes next year.


----------



## bigdog

https://apnews.com/article/business...cial-markets-25ba16e69747cdf73267b8357904665c

*Big Tech companies sink, pushing Nasdaq composite down 2.5%*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies led stocks lower on Wall Street Thursday as investors weighed the implications of higher interest rates on the market. The declines came a day after the Federal Reserve said it’s preparing to begin raising rates next year to fight inflation.

The S&P 500 fell 0.9%, erasing about half of its gains from the day before. The Nasdaq slid 2.5%, its biggest drop since September, as Big Tech heavyweights like Apple and Microsoft fell. The Dow Jones Industrial Average slipped 0.1%

The sell-off, which gained momentum as the day went on, was a reversal from a day before, when technology sector stocks led a market rally following the Fed’s latest interest rate and economic policy update.

The central bank signaled plans to speed up its reduction in monthly bond purchases that have helped maintain interest rates low. The shift in policy sets the stage for the Fed to begin raising rates sometime next year.

Large technology companies often have lofty valuations based on assumptions about their profitability going far into the future. Investors tend to accept those higher valuations more easily when interest rates are extremely low, giving them fewer alternatives for returns. With interest rates poised to rise, investors are rethinking the high valuations they put on tech giants.

“Today it’s almost like you’re getting the reaction that everyone was expecting a day earlier,” said Ross Mayfield, investment strategist at Baird.

The S&P 500 fell 41.18 points to 4,668.67. The benchmark index is within 1% of the all-time high it set last Friday,

The Dow slipped 29.79 points to 35,897.64. The Nasdaq’s losses wiped out its gains from a day before. It ended down 385.15 points to 15,180.43.

Small company stocks also took heavy losses. The Russell 2000 index gave up 42.75 points, or 2%, to 2,152.46. All the major indexes are on pace for a weekly loss.

Bond yields fell. The yield on the 10-year Treasury fell to 1.43% from 1.46% late Wednesday.

Stocks have been choppy in recent weeks as investors waited for more guidance from the Federal Reserve amid signs of growing inflation in the economy and worries over the rise of the omicron variant of COVID0-19.

Inflation has been a growing concern throughout 2021. Higher raw materials costs and supply chain problems have been raising overall costs for businesses, which have raised prices on goods to offset the impact. Consumers have so far absorbed those price increases, but they are facing persistent pressure from rising prices and that could eventually prompt a pullback in spending. Any pullback in spending could then crimp economic growth.

On Wednesday, the Federal Reserve announced an acceleration of its pullback of economic stimulus as it pivots to fighting inflation. The central bank plans to shrink its monthly bond purchases at twice the pace it previously announced as unemployment falls and inflation nears a 40-year high. The accelerated timetable puts the Fed on a path to start raising rates as early as the first half of next year.

Meanwhile, the Bank of England became the first central bank among leading economies to raise interest rates to fight inflation. The European Central Bank still plans to trim its pandemic stimulus, but not abruptly.

Several big technology companies weighed on the market Thursday. Apple slid 3.9% and Microsoft dropped 2.9%.

Wall Street also had several pieces of economic data to review on Thursday.

The number of Americans applying for unemployment benefits rose last week and the figure was bigger than economists expected. The jobless claims, at 206,000, are still low by historical standards.

U.S. industrial production increased 0.5% in November, according to the Federal Reserve, as output at the nation’s factories reached the highest level since January 2019. The figure fell just shy of economists’ forecasts.

The Commerce Department reported that new home construction in the U.S. rebounded 11.8% in November as strong demand continues to boost builder confidence even with the slower winter season approaching.

ASX 200 expected to rise​
The Australian share market looks set to end the week in a positive fashion. According to the latest SPI futures, the ASX 200 is expected to open the day 23 points or 0.3% higher this morning. 

Technology companies led stocks lower on Wall Street Thursday as investors weighed the implications of higher interest rates on the market. The declines came a day after the Federal Reserve said it’s preparing to begin raising rates next year to fight inflation.  The latter does not bode well for ASX 200 tech shares on Friday.

On closing, the Dow Jones was down 0.08%, but the S&P 500 down 0.87% and the Nasdaq down 2.47%.


----------



## bigdog

https://apnews.com/article/coronavi...iness-sydney-3d88016674bcc1934b45ac68d8ad4cda

*US stocks end lower, marking 3rd losing week in the last 4*

By DAMIAN J. TROISE and ALEX VEIGA

Banks led another pullback for stocks on Wall Street Friday, as the market racked up its third losing week in the last four.

The S&P 500 fell 1%, with three-quarters of the companies in the benchmark index closing lower. The Dow Jones Industrial Average fell 1.5% and the tech-heavy Nasdaq slipped 0.1%. The indexes initially moved higher in choppy trading before settling into their latest losses.

After pushing the S&P 500 to a record high last week, investors have been taking money off the table as the Federal Reserve moves to dial back stimulus and fight inflation.

The Federal Reserve signaled on Wednesday that it plans to speed up its reduction in monthly bond purchases that have helped keep interest rates low. The shift in policy sets the stage for the Fed to begin raising rates sometime next year.

“The cat is kind of out of the bag now and it seems like inflation is something that’s going to be more persistent in 2022,” said Charlie Ripley, senior investment strategist for Allianz Investment Management.

The S&P 500 fell 48.03 points to 4,620.64. The index is now about 2% below its all-time high set last Friday and is up 23% so far this year. The Nasdaq slipped 10.75 points to 15,169.68. Both indexes have posted losses in three of the last four weeks.

The Dow dropped 532.20 points to 35,365.44.

Small company stocks bucked the broader market slide. The Russell 2000 index picked up 21.48 points, or 1%, to 2,173.93.

Inflation has been a growing concern throughout 2021. Higher raw materials costs and supply chain problems have been raising overall costs for businesses, which have raised prices on goods to offset the impact.

Consumers have so far absorbed those price increases, but they are facing persistent pressure from rising prices and that could eventually prompt a pullback in spending. Any pullback in spending could then crimp economic growth.

Investors initially welcomed word of the Fed’s policy pivot toward fighting inflation on Wednesday. It was the only day this week that the broader market notched gains. Traders’ optimism appeared to dim again by Thursday with sell-off led by technology companies that erased nearly all of the market’s gains from a day earlier.

The slide in technology sector stocks continued Friday. Oracle fell 6.4%, while Nvidia dropped 2.1%.

Large technology companies often have lofty valuations based on assumptions about their profitability going far into the future. Those valuations are typically more acceptable to investors when interest rates remain low, but become less desirable as interest rates rise.

Banks and energy companies took the heaviest losses as long-term bond yields mostly fell. Lenders rely on higher yields to charge more lucrative interest on loans. JPMorgan Chase fell 2.3%.

The yield on the 10-year Treasury slipped to 1.41% from 1.42% late Thursday.

Losses were broad throughout other sectors. A wide range of retailers, household goods makers and industrial firms also fell. Home Depot slid 2.9%, Procter & Gamble fell 2.3% and Caterpillar dropped 2.3%.

Sectors considered less risky, such as real estate and utilities, had less severe losses.

Some travel-related stocks, including cruise line operators, rose. Royal Caribbean gained 5.3%, Norwegian Cruise Line rose 5.1% and Carnival gained 4%.

The price of U.S. crude oil dropped 2.1% amid a broad pullback in energy futures. Stocks in the S&P 500′s energy sector mostly fell. Chevron slid 2.6%.

European and Asian markets closed mostly lower.

Wall Street is also gauging the potential impact from surging coronavirus cases with the new omicron variant. Public health experts in Europe have been urging greater precautions amid the latest wave.

Investors are also considering heightened tensions between China and U.S. amid an already strained global supply chain. In the U.S., Congress approved legislation barring all imports from China’s Xinjiang region unless businesses can prove they were produced without forced labor.


----------



## bigdog

*ASX 200 expected to fall*

The Australian share market looks set to start the week on a disappointing note. According to the latest SPI futures, the ASX 200 is expected to open the day 30 points or 0.4% lower this morning. 

This follows a poor end to the week on Wall Street, which saw the Dow Jones fall 1.5%, the S&P 500 drop 1%, and the Nasdaq edge 0.1% lower.


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## bigdog

*SEA OF RED TODAY*

https://apnews.com/article/coronavi...yle-business-728a4948e3eb33e05b65fe6dc4c710ba

*Wall Street joins global slump for stocks on omicron jitters*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Stocks on Wall Street added to their recent string of losses Monday, joining a worldwide slump by financial markets amid worries about how badly the omicron variant, inflation and other forces will hit the economy.

The S&P 500 fell 1.1% for its third straight drop. The decline followed similar drops across Europe and Asia. Stocks of oil producers helped lead the way lower after the price of U.S. crude fell 3.7% on concerns the newest coronanvirus variant could lead factories, airplanes and drivers to burn less fuel.

Omicron may be the scariest force hitting markets, but it’s not the only one. A proposed $2 trillion spending program by the U.S. government took a potential death blow over the weekend when an influential senator said he could not support it. Markets are also still absorbing last week’s momentous move by the Federal Reserve to more quickly remove the aid it’s throwing at the economy, because of rising inflation.

They all combined to drag the benchmark S&P 500 52.62 points lower to 4,568.02. The Dow Jones Industrial Average fell 433.28 points, or 1.2%, to 34,932.16. The Nasdaq composite fell 188.74 points, or 1.2%, to 14,980.94.

Smaller company stocks fared worse than the rest of the market. The Russell 2000 index fell 34.06 points, or 1.6%, to 2,139.87. In global markets, Germany’s DAX lost 1.9% and Japan’s Nikkei 225 dropped 2.1%.

“Omicron threatens to be the Grinch to rob Christmas,” Mizuho Bank’s Vishnu Varathan said in a report. The market “prefers safety to nasty surprises.”

With COVID-19 cases surging again, leaders of governments around the world are weighing the return of restrictions on businesses and social interactions when many people seem to be sick of them.

The Dutch government began a tough nationwide lockdown on Sunday, while a U.K. official on Monday said he could not guarantee new restrictions would not be announced this week. The Natural History Museum, one of London’s leading attractions, said Monday it was closing for a week because of “front-of-house staff shortages.”

In the U.S., President Joe Biden will announce on Tuesday new steps he is taking, “while also issuing a stark warning of what the winter will look like for Americans that choose to remain unvaccinated,” the White House press secretary said over the weekend.

Occidental Petroleum slid 3.8%, leading a long list of losing oil stocks. Producers of raw materials, technology companies and financial stocks also fell amid the omicron worries. Steelmaker Nucor lost 5.8%, Microsoft slid 1.2% and Synchrony Financial, which offers store-brand credit cards and other financial products, dropped 5.2%.

Cruise line operators got a boost after Carnival gave an optimistic forecast for 2022, despite growing concerns about the recent rise in COVID cases worldwide. Carnival gained 3.4% for the biggest gain in the S&P 500, while Royal Caribbean rose 0.3% and Norwegian Cruise Line added 2%.

Omicron’s ultimate impact on the economy is unclear. Besides weakening it by putting restrictions on businesses, another feared outcome is that it could push inflation even higher. If it leads to closures at ports, factories and other key points of the long global supply chains leading to customers, already ensnarled operations could worsen.

Such troubles helped drive prices at the consumer level in November up 6.8% from a year earlier, the fastest inflation in nearly four decades.

ASX 200 expected to edge lower​The Australian share market looks set for another subdued day on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 10 points or 0.15% lower this morning. 

Stocks on Wall Street added to their recent string of losses Monday, joining a worldwide slump by financial markets amid worries about how badly the omicron variant, inflation and other forces will hit the economy. On closing,  the Dow Jones was down 1.23%, the S&P 500 is down 1.14%, and the Nasdaq is 1.24% lower.


----------



## bigdog

https://apnews.com/article/coronavi...s-tokyo-asia-a56e4be94149cfa55c664ca97c0b1bd4

*Stocks end higher on Wall Street, breaking a 3-day slump*

By DAMIAN J. TROISE and ALEX VEIGA

Energy and technology companies led stocks broadly higher on Wall Street Tuesday, ending the market’s three-day losing streak.

The S&P 500 rose 1.8%, more than making up for the ground it lost a day earlier. The tech-heavy Nasdaq rose 2.4%, while the Dow Jones Industrial Average gained 1.6%.

Small-company stocks rose even more than the rest of the market, a signal that investors were feeling a more optimistic about the economy. The Russell 2000 rose 2.9%.

The rapidly spreading omicron variant of the COVID-19 virus has been weighing on the market in recent weeks, adding to concerns about how the pandemic, rising inflation and persistent global supply chain issues will affect the economy.

Tuesday’s gains marked a reversal for the market after its recent pullback, but it doesn’t necessarily mean investors are now in a buying mood.

“The market was oversold, and so it got like a stretched rubber band and we had a sharp snapback today,” said Sam Stovall, chief investment strategist at CFRA. “I need to see follow-through. We could just as easily see a giveback of some of these gains tomorrow.”

The S&P 500 rose 81.21 points to 4,649.23. The benchmark index is within 1.4% of the all-time high it set Dec. 10.

The Dow climbed 560.54 points to 35,492.70. Nike, one of the 30 stocks in the blue chip index jumped 6.1% after turning in strong quarterly results.

The Nasdaq rose 360.14 points to 15,341.09 and the Russell 2000 gained 63.07 points to 2,202.95. Nearly five stocks rose for every one that fell on the New York Stock Exchange.

The gains follow several weak days for major indexes as investors assess the impact from skyrocketing omicron cases. Nations in Europe and Asia have implemented a variety of restrictions aimed at curtailing the spread and that has investors worried about the impact to the global economy.

The latest coronavirus wave adds to lingering worries about rising inflation’s impact on economic growth. Supply chain shortages and higher raw material costs have been hitting businesses, which have passed the higher costs off to consumers. U.S. consumer prices rose 6.8% in November from a year earlier, which marks the fastest rise in inflation in nearly four decades.

Rising inflation has also prompted the Federal Reserve to hasten its withdrawal of aid to the markets and economy and put interest rate increases on the radar for investors in 2022. The prospect of higher interest rates has added some choppiness to the broader market as investors shift money around, particularly from high-value technology stocks.

“We’re not out of the woods yet and we’re likely going to see more volatility through the end of the year,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors.

About 85% of the stocks in the S&P 500 rose. Technology companies accounted for a big share of the gains. Citrix Systems climbed 13.6% for the biggest gain in the index. Micron Technology jumped 10.5% after the chipmaker gave investors an encouraging profit forecast.

A mix of retailers. restaurant chains and other companies that rely on consumer spending also notched solid gains. Tesla climbed 4.3%, Amazon.com rose 2% and Starbucks rose 2.1%.

Bank stocks got help from rising bond yields. The yield on the 10-year Treasury rose to 1.47% from 1.42% late Monday. Citigroup gained 1.9%.

U.S. crude oil prices rose 4.2% and helped send energy stocks higher. Chevron rose 1.6%.

ASX 200 expected to edge higher​The Australian share market looks set to edge higher on Wednesday following a strong night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 9 points or 0.1% higher this morning. 

Energy and technology companies led stocks broadly higher on Wall Street Tuesday, ending the market’s three-day losing streak.

The S&P 500 rose 1.8%, more than making up for the ground it lost a day earlier. The tech-heavy Nasdaq rose 2.4%, while the Dow Jones Industrial Average gained 1.6%.


----------



## bigdog

https://apnews.com/article/coronavi...style-travel-2f96ed2c5e96f74134e9e7a1c1ef5ff2

*Stocks rise on Wall Street ahead of Christmas holiday*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed broadly higher on Wall Street Wednesday, adding to the market’s gains this week ahead of the Christmas holiday.

The S&P 500 rose 1% after coming back from an early slide. The other indexes also recovered after sliding into the red in the early going. The Dow Jones Industrial Average rose 1.1% and the Nasdaq closed 1.2% higher. The Russell 2000, a measure of small-company stocks, rose 0.9%.

Every major U.S. index is still on track for weekly gains after a choppy several days where stocks bounced between sharp losses and solid gains.

“We’ve had strength yesterday and today, so the markets are generally positive this week following a fair amount of pressure last week,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.

The S&P 500 rose 47.33 points to 4,696.56. The index is now within 0.4% of the all-time high it set Dec. 10.

The Dow gained 261.19 points to 35,753.89, while the Nasdaq rose 180.81 points to 15,521.89. The Russell 2000 gained 18.96 points to 2,221.90.

The latest surge in coronavirus cases because of the omicron variant has been hanging over markets, along with concerns about rising inflation and its impact on economic growth.

The Commerce Department on Wednesday said the U.S. economy grew at a 2.3% rate in the third quarter, slightly better than previously thought. But prospects for a solid rebound going forward are being clouded by the rapid spread of the latest variant of the coronavirus.

“The market is a little uncertain about that (omicron), but seems somewhat convinced that it isn’t going to turn into another lockdown,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute.

Even so, the uncertainty over the latest variant’s impact on the economy is likely to cause more stock market swings.

“Clearly, the pace of economic recovery is being held hostage by omicron, and that’s resulting in increased volatility,” Sandven said. “By our metric, volatility is likely to be more the norm versus the exception, and for good reason.”

Governments in Asia and Europe have tightened travel controls or pushed back plans to relax curbs already in place. In the U.S., President Joe Biden announced Tuesday the government will provide rapid-test kits and increase vaccination efforts but gave no indication of plans for restrictions that might disrupt the economy.

Investors have also been busy shifting money between sectors as the close of the year approaches and they prepare for higher interest rates in 2022. The Federal Reserve has said it will hasten the process of cutting its bond purchases that have helped maintain low interest rates and that opens the door to rate increases from the central bank in 2022.

Nearly 80% of companies in the S&P 500 rose Wednesday. Retailers and other companies that rely on consumer spending accounted for a big share of the gains. They rose following the encouraging consumer confidence report.

Tesla jumped 7.5% for the biggest gain in the S&P 500 after CEO Elon Musk reportedly said he sold enough stock to reach his goal of selling 10% of his stake in the electric vehicle maker.

Technology and health care stocks also helped lift the market. Microsoft rose 1.8% and Abbott Laboratories rose 2.8%.

Traders bid up shares in cruise lines, hotel operators and other travel-related stocks. Carnival rose 3.5%, Marriott gained 2.7% and Expedia Group picked up 2.9%.

Energy futures rose, with the price of U.S. crude oil rising 2.3%.

Bond yields edged mostly lower. The yield on the 10-year Treasury fell to 1.46% from 1.48% late Tuesday.

Indexes closed mostly higher in Europe and Asia.

U.S. markets will be closed Friday in observance of Christmas.

ASX 200 expected to rise​The Australian share market looks set to push higher on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 24 points or 0.3% higher this morning. 

Stocks closed broadly higher on Wall Street Wednesday, adding to the market’s gains this week ahead of the Christmas holiday
 which on closing sees the Dow Jones up 0.74%, the S&P 500 up 1.02%, and the Nasdaq up 1.18%.


----------



## bigdog

*U.S. markets will be closed Friday in observance of Christmas.*

https://apnews.com/article/coronavi...usiness-asia-8367a63d8a8759e08d25176971798407

*Steady gains leave indexes higher in holiday-shortened week*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street added to its recent string of gains Thursday, closing out a holiday-shortened week of trading with a broad stock rally that nudged the S&P 500 to an all-time high.

The S&P 500 rose 0.6%, its third straight gain. The benchmark index’s latest milestone marks its 68th record high this year. It’s now up 25.8% for the year with just five trading days left to go in 2021.

The Dow Jones Industrial Average rose 0.6% and the Nasdaq gained 0.8%. The Russell 2000, a measure of small-company stocks, rose 0.9%.

Stock indexes bounced back this week after posting weekly losses last week. A surge in coronavirus cases because of the omicron variant has weighed on Wall Street, adding to concerns about rising inflation and its impact on economic growth. Traders may have been encouraged by some preliminary research that suggests omicron, while spreading much faster than the delta COVID-19 variant, may cause less severe illness.

“Covid is spreading at an incredible rate, but the fact that this version just seems to be less lethal is giving people a lot of hope,” said J.J. Kinahan, chief strategist with TD Ameritrade. “That’s giving people real confidence going forward as we head in to 2022.”

The S&P 500 rose 29.23 points to 4,725.79. The index rose 2.3% for the week. Its latest all-time high eclipsed the one it set Dec. 10.

The Dow gained 196.67 points to 35,950.56, while the Nasdaq rose 131.48 points to 15,653.37. The Russell 2000 picked up 19.67 points to 2,241.58.

Bond yields rose. The yield on the 10-year Treasury rose to 1.49% from 1.46% late Wednesday.

Wall Street is trying to gauge how corporate profits in 2022 may be affected by inflation, global supply chain disruptions and the pandemic. In the near term, the outlook is being clouded by the rapid spread of omicron. Governments in Asia and Europe have tightened travel controls or pushed back plans to relax curbs already in place.

Investors got some good news Thursday, as U.S. health regulators authorized Merck’s pill to treat COVID-19. Regulators had previously cleared the way for a treatment from Pfizer.

Traders also weighed a mix of economic data. The Commerce Department reported that U.S. consumer prices rose 5.7% in November versus a year earlier, the fastest pace in 39 years, as a surge in inflation confronts Americans with the holiday shopping season under way. Businesses have been dealing with supply chain problems and higher raw materials costs, and in turn passing those costs off to consumers.

The higher prices have raised concern that consumer spending, which accounts for 70% of U.S. economic activity, could soften and hurt economic growth. The latest report shows that spending rose 0.6%, well below the 1.4% surge in October.

Meanwhile, the Labor Department reported that the number of Americans applying for unemployment benefits was unchanged last week, remaining at a historically low level that reflects the job market’s strong recovery from the coronavirus recession last year.

About 80% of stocks within the benchmark S&P 500 gained ground, with technology and industrial companies accounting for a big share of the gains. Real estate and utilities stocks lagged.

Cisco systems, which makes routers and other computer hardware, rose 1.2%. Chipmaker Micron Technology rose 4.5%.

Retailers and other companies that rely on consumer spending gained ground. Tesla jumped 5.8% for the biggest gain in the S&P 500. Target rose 1.5% and Domino’s Pizza rose 2.1%.

European markets were higher, and Asian markets closed higher overnight.

U.S. markets will be closed Friday in observance of Christmas.

*ASX 200 expected to rise*

The Australian share market looks set to end the week in a positive fashion. According to the latest SPI futures, the ASX 200 is expected to open the day 44 points or 0.6% higher this morning.

Wall Street added to its recent string of gains Thursday, closing out a holiday-shortened week of trading with a broad stock rally that nudged the S&P 500 to an all-time high.  On closing sees the Dow Jones was up 0.55%, the S&P 500 up 0.62% and the Nasdaq up 1.85%.


----------



## bigdog

*MERRY XMAS AND A HAPPY NEW TO ALL

NYSE WILL BE TRADING ON MONDAY DECEMBER 27*

https://apnews.com/article/coronavi...style-travel-1b286c41d43d37acd7734e5d3e67bbd6

*Stocks mixed across global markets in quiet holiday trading*

By JOE McDONALD

BEIJING (AP) — Global stocks were mixed in quiet trading on Friday, with many markets around the world closed or ending early in observance of Christmas.

Stocks slipped in Paris and Tokyo, inched higher in Seoul and Hong Kong and were nearly unchanged in London. Financial markets took the day off in the United States, Germany and many other countries as another powerful year for stocks nears its end.

A day earlier, Wall Street’s benchmark S&P 500 index rose 0.6% to set a record as investor fears ebbed about how badly the omicron variant will hit the economy. Authorities have said the coronavirus variant might cause less severe illness, and President Joe Biden called for more vaccinations and testing but announced no plans for travel restrictions.

Omicron looks like a “short-term disruption” instead of a “destructive headwind that knocks the economy off its course,” Edward Moya of Oanda said in a report. “The U.S. economic recovery in 2022 still looks very strong.”

Of course, much is still uncertain about omicron, which seems to spread extremely quickly. Several major airlines canceled dozens of flights on Friday because many of their workers were calling in sick.

In Asia, Tokyo’s Nikkei 225 slipped 0.1%, Hong Kong’s Hang Seng rose 0.1% and Seoul’s Kospi gained 0.5%. Stocks in Shanghai dipped 0.7%.

In Europe, France’s CAC 40 slipped 0.3%, and London’s FTSE 100 edged down by less than 0.1%.

The surge in omicron cases has weighed on investors as they have tried to gauge the impact on 2022 corporate profits. Governments in Asia and Europe have tightened travel controls or pushed back plans to relax curbs already in place.

Inflation, meanwhile, is running at a nearly four-decade high in the United States. That has prompted the Federal Reserve to accelerate the withdrawal of economic stimulus that has been boosting stock prices.

In energy markets, the price of Brent crude oil rose 71 cents to settle at $76.14.


*USA CLOSED FOR HOLIDAY DECEMBER 24*




*
REST OF THE WORLD TRADING DECEMBER 24*


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## bigdog

*ASX is closed today Tuesday December 28 (being substitute for Sunday 26 December Boxing Day Public holiday)*

https://apnews.com/article/coronavi...h-tokyo-asia-93c8d97939503b766e4611063ef3939b

*Wall Street ends higher, marking another record for S&P 500*

By ALEX VEIGA

Technology companies led U.S. stocks broadly higher Monday, extending the market’s recent rally and nudging the S&P 500 to another all-time high.

Wall Street kicked off the final week in a banner year for the stock market with mostly muted trading as investors returned from the Christmas holiday and several overseas markets remained closed.

The S&P 500 rose 1.4%, its fourth straight gain. The benchmark index, which capped a holiday-shortened week Thursday with a record high, is on pace to close out the year with a 27.6% gain. The Dow Jones Industrial Average rose 1% and the technology-heavy Nasdaq rose 1.4%.

The major indexes posted weekly gains last week as fears ebbed about the potential impact of the COVID-19 omicron variant. However, much is still uncertain about omicron, which is spreading extremely quickly and leading to a return to pandemic restrictions in some places.

The S&P 500 rose 65.40 points to 4,791.19. The index has notched 69 all-time highs so far this year. The Dow gained 351.82 points to 36,302.38, and the Nasdaq rose 217.89 points to 15,871.26.

Small company stocks also rose. The Russell 2000 index gained 19.88 points, or 0.9%, to 2,261.46.

Trading is expected to be quiet, but potentially volatile, this week as the omicron coronavirus variant continues to spread quickly throughout the U.S. and overseas. However most big investors have closed out their positions for 2021, and are like to hold their ground until next week.

Technology companies led the gains Monday. Nvidia climbed 4.4%, while Apple and Microsoft each rose 2.3%.

The price of U.S. crude oil rose 2.4%, continuing its climb higher this month. That helped boost energy stocks. Devon Energy rose 6.1% and Diamondback Energy rose 4.9%.

Health care and financial stocks also helped lift the market. Abbott Laboratories rose 1.7% and Morgan Stanley rose 1.1%.

Hundreds of flights were cancelled in the U.S. over the holiday weekend, with airlines reporting COVID-related staffing problems. France reported more than 100,000 new cases in a daily record.

Airline stocks closed lower on the news. Delta Air Lines fell 0.8% and United Airlines slipped 0.6%.

Shares in cruise line operators also fell. Norwegian Cruise Line slid 2.6% for one of the biggest declines in the S&P 500. Carnival dropped 1.2% and Royal Caribbean fell 1.3%.

Authorities in many countries have doubled down on vaccination efforts as omicron outbreaks complicate efforts stave off fresh lockdowns while hospitals are still under strain from delta variant infections.

Bond yields were mixed. The yield on the 10-year Treasury slipped to 1.48% from 1.49% on Thursday.

Asian and European markets were either closed or mostly higher on Monday. London and Hong Kong were closed, while Japan’s stock market closed slightly higher.


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## bigdog

*ASX will be trading today after two day holiday*

https://apnews.com/article/coronavi...h-japan-asia-ee459fd68ab91da802abaa5f7f629bc5

*Stocks end mixed, breaking 4-day winning streak for S&P 500*

By ALEX VEIGA

A wobbly day of trading on Wall Street left stock indexes mixed Tuesday, pulling the S&P 500 just below its latest record high.

The benchmark index slipped 0.1% after wavering between modest gains and losses. The slight loss snapped a four-day winning streak for the index, which set an all-time high on Monday. The Dow Jones Industrial Average rose 0.3% and the Nasdaq fell 0.6%.

Roughly 60% of the companies in the S&P 500 rose, but a slide in technology, health care and communication stocks outweighed gains in industrial firms, household goods makers and elsewhere in the market. Small company stocks also fell, pulling the Russell 2000 index 0.7% lower.

“We did have four straight days of upward movement,” said Sam Stovall, chief investment strategist at CFRA. “Investors are keeping their fingers tightly crossed that we will end up with a positive ‘Santa Claus’ rally.”

That’s what Wall Street calls a rally in the final five days in December and the first two trading days in January. Since 1950, the S&P 500 index has risen an average of 1.3% during those seven days. If the “Santa rally” doesn’t arrive, some traders see it as an omen that stocks may fall in the upcoming year.

The S&P 500 slipped 4.84 points to 4,786.35. The Dow rose 95.83 points to 36,398.21. The tech-heavy Nasdaq dropped 89.54 points to 15,781.72. The Russell 2000 gave up 14.95 points to 2,246.51.

The major U.S. stock indexes are on pace to close out 2021 with strong gains. The S&P 500 is up 27.4% with three trading days to go this year.

Technology companies, which did well on Monday, led the decliners in the S&P 500. Graphics chip maker Nvidia fell 2%.

Health care and communication services stocks also weighed on the market. Pfizer fell 2% and Moderna dropped 2.2%. Twitter fell 2%.

Industrial companies and household goods makers were among the better performers. Boeing added 1.5% and Campbell Soup rose 2.8% for the biggest gain in the S&P 500.

Airline stocks recovered some of their losses from this month. American Airlines rose 2%, United Airlines gained 1.5% and Delta Air Lines closed 1.6% higher.

The major indexes posted gains last week as fears ebbed about the potential impact of the COVID-19 omicron variant. However, much is still uncertain about omicron, which is spreading extremely quickly and leading to a return to pandemic restrictions in some places.

The variant is quickly becoming the dominant strain throughout the world. While virus-related lockdowns and travel restrictions remain a big concern, most big investors have closed out their positions for 2021 and are likely to hold their ground until next week.

The market got some encouraging news Monday when the Centers for Disease Control reduced the amount of time an infected person would need to isolate if they tested positive.

Oil prices continued to climb Tuesday, adding to their gains from the day before. U.S. crude rose 0.5%.

ASX 200 futures flat​The Australian share market is set to return to trade again this morning in a subdued fashion. According to the latest SPI futures, the ASX 200 is expected to open the day flat this morning.

A wobbly day of trading on Wall Street left stock indexes mixed Tuesday, pulling the S&P 500 just below its latest record high.
On closing,  the Dow Jones was up 0.26%, but the S&P 500 down 0.1% and the Nasdaq trading 0.56% lower.









On


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## bigdog

https://apnews.com/article/coronavi...markets-asia-4351637dcf2312ab6de1985333d408d6

*Stocks meander higher, scoring record highs for S&P 500, Dow*

By ALEX VEIGA

A wobbly day of trading on Wall Street ended with most stock indexes managing slight gains, enough for the S&P 500 and Dow Jones Industrial Average to score all-time highs.

The S&P 500 rose 0.1% after having been down 0.2% in the early going. The Dow Jones Industrial Average rose 0.2% and the Nasdaq slipped 0.1%. All three indexes started the day slightly in the green.

The benchmark S&P 500 index, which also set a record high last Friday and Thursday, has now posted 70 record highs for the year. In the post-World War II era, that’s the most new highs for the index since the 77 it set in 1954. The Dow last set a record high in early November.

The major U.S. stock indexes are on pace to close out this year with strong gains. With two trading days left this year, the S&P 500 is headed for a gain of more than 27% for 2021. That would be its best performance since 2019, another banner year for the market.

Better-than-expected corporate earnings growth helped fuel the market’s rise this year and kept the indexes climbing to new highs, said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management.

“As we finish out this quarter, earnings expectations by analysts have been ticking slightly higher for 2021,” he said. “That’s part and parcel of what’s driven so many all-time highs. Things were much better than anticipated as we moved through the whole year.”

The S&P 500 rose 6.71 points to 4,793.06. The Dow added 90.42 points to 36,488.63. The Nasdaq slipped 15.51 points to 15,766.22.

Smaller company stocks also rose. The Russell 2000 index gained 2.74 points, or 0.1%, to 2,249.24.

Gains in health care and technology stocks helped lift the S&P 500 Wednesday. Biogen jumped 9.5% for the biggest gain in the index, while Micron Technology rose 3.5%.

Retailers and companies reliant on consumer spending were among the better performers coming off the Christmas holiday shopping season. Target, Nike, Kroger and AutoZone all rose 1.3% or more.

Losses in communication, energy and financial stocks kept the market’s gains in check. Facebook parent Meta Platforms slipped 0.9%, Exxon Mobil dropped 0.9% and Morgan Stanley fell 1.2%.

Investors have become more comfortable with the omicron variant of the coronavirus in the last couple of weeks. The quickly spreading virus appears to be less severe and cause less death and hospitalization than other versions of the virus.

However, much is still uncertain about omicron, which is spreading extremely quickly and leading to a return to pandemic restrictions in some places. The variant is quickly becoming the dominant strain throughout the world.

“What the market is still trying to sort out is what is the impact of the rise in omicron cases here in the U.S.,” Haworth said.

While virus-related lockdowns and travel restrictions remain a big concern, most big investors have closed out their positions for 2021 and are likely to hold their ground until next week. Trading this week has been slow, with less than 3 billions shares exchanging hands on the New York Stock Exchange the last two days, compared to the 4.5 billion shares typically bought and sold on an average day.

Bond yields have moved higher in the final days of 2021. The yield on the 10-year Treasury note rose to 1.55% compared with 1.48% late Tuesday.

Energy futures mostly rose. The price of U.S. crude oil rose 0.8%.

ASX 200 expected to rise again​The Australian share market looks set to push higher again on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 17 points or 0.25% higher this morning.

A wobbly day of trading on Wall Street ended with most stock indexes managing slight gains, enough for the S&P 500 and Dow Jones Industrial Average to score all-time highs.  The S&P 500 rose 0.1% after having been down 0.2% in the early going. The Dow Jones Industrial Average rose 0.2% and the Nasdaq slipped 0.1%. All three indexes started the day slightly in the green


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## bigdog

*ASX closing to 2:00 PM today*

https://apnews.com/article/coronavi...tock-markets-b7a6b076de784bcd5af1f4059ea6646f

*A late slide pulls major US indexes just below record highs*

By ALEX VEIGA

The S&P 500 and Dow Jones Industrial Average closed slightly below their all-time highs Thursday as stocks gave up an early gain and turned lower in the final minutes of trading on Wall Street.

The S&P 500 index slipped 0.3% a day after notching a record high. The Dow, which also set a new high Wednesday, fell 0.2%. The Nasdaq also slipped 0.2%.

Most of Wall Street is on vacation or has closed their positions for 2021, which means trading is extremely light. Investors will likely not make any large moves until next week with the start of the New Year.

“In general, more than any one bit of news the last few days, people are focused really on what’s coming ahead over the course of the next 12 months,” said Alonso Garza, global investment specialist at J.P. Morgan Private Bank.

The S&P 500 fell 14.33 points to 4,778.73 and the Dow slid 90.55 points to 36,398.08. The Nasdaq dropped 24.65 points to 15,741.56. Smaller company stocks also weakened slightly, though the dip left the Russell 2000 index barely changed. The index slipped 0.45 points, or less than 0.1%, to 2,248.79.

The major stock indexes are on pace to end December with solid gains, capping a banner year for the market. The S&P 500 is headed for a gain of more than 27% for 2021. That would be its best performance since 2019, another standout year for the market.

A wave of consumer demand fueled by the reopening of the economy pumped up corporate profits more than expected this year, which helped keep investors in a buying mood. The Federal Reserve also helped, by keeping interest rates low, which makes borrowing money more affordable for companies and consumers.

The market’s gains came despite no shortage of economic challenges, including rising inflation, global supply chain disruptions and outbreaks of more contagious variants of the COVID-19 virus.

Investor concerns about the omicron variant have eased in recent weeks after researchers said it appears to cause less severe symptoms and President Joe Biden avoided announcing travel or other restrictions that might weigh on economic activity. Still, markets are uncertain about the impact of omicron, which is spreading fast and quickly becoming the dominant variant.

Technology companies accounted for a big share of the late-afternoon slide. Micron Technology led the sector decline, dropping 2.4% after disclosing that its memory chip output has been hindered by a lockdown in the Chinese city of Xi’an intended to contain the coronavirus omicron variant.

Energy stocks and a mix of companies that rely on consumer spending also weighed down the market. Oil and natural gas company APA Corp. fell 3%. Tesla slid 1.5% after announcing it is recalling certain Model 3s because a cable for its backup camera can become worn and fail to transmit images to the dashboard console.

Cruise lines fell after the Centers for Disease Control and Prevention recommended that passengers avoid cruise travel, regardless of their COVID-19 vaccination status. Norwegian Cruise Line slid 2.6% and Carnival dropped 1.3%.

Health care and communication services stocks notched gains. Pfizer rose 1.4% and Twitter climbed 4%.

Investors got a couple bits of good news. The number of Americans applying for unemployment benefits fell below 200,000, more evidence that the job market remains strong in the aftermath of last year’s coronavirus recession. Wall Street will get the December jobs report next week.

Meanwhile the Chicago Purchasing Manager Index, a gauge of manufacturing and economic activity, came in at 63.1 for December. That’s slightly better than the reading of 62.0 that economists were expecting, according to FactSet.

The yield on the 10-year Treasury note edged lower to 1.51% from 1.54% the day before.

ASX 200 expected to rise​The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 9 points or 0.1% higher this morning. 

The S&P 500 and Dow Jones Industrial Average closed slightly below their all-time highs Thursday as stocks gave up an early gain and turned lower in the final minutes of trading on Wall Street.  On closing the Dow Jones was down 0.25%, the S&P 500 down 0.3% and the Nasdaq down 0.16%.


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## bigdog

*ASX CLOSED MONDAY FOR OUR NEW YEAR HOLIDAY

A Very Happy & Prosperous New Year!*

https://apnews.com/article/coronavi...ia-hong-kong-41bccae09ac63ef1774d95d2f349aa0d

*Stocks end 2021 on a weak note, still notch big yearly gain*

By ALEX VEIGA

Stocks capped a quiet day of trading with modest losses Friday, even as Wall Street closed the books on another banner year.

The S&P 500 finished with a gain of 26.9% for the year, or a total return of about 29%, including dividends. That’s nearly as much as the benchmark index gained in 2019. The Nasdaq composite, powered by Big Tech stocks, climbed 21.4% in 2021. The Dow Jones Industrial Average gained 18.7%, with Home Depot and Microsoft leading the way.

“It’s the third year in a row of incredible gains,” said J.J. Kinahan, chief strategist with TD Ameritrade. “The market itself was just amazingly strong.”

A wave of consumer demand fueled by the reopening of economies pumped up corporate profits more than expected in 2021, which helped keep investors in a buying mood. Wall Street also got a boost from the Federal Reserve, which kept its key short-term interest rate near zero all year. That helped keep borrowing costs for companies low and stock valuations high. Investors expect the Fed to start pushing rates higher next year.

There was also intense interest in so-called “meme stocks,” in which large groups of individual investors bought up shares of beaten-down companies like GameStop and AMC Entertainment, causing institutional investors like hedge funds to lose billions. The soaring stock market also led to an explosion in initial public offerings, including online broker Robinhood and electric vehicle maker Rivian Automotive.

Along the way, the S&P 500 set 70 all-time highs, its most recent one on Wednesday. In the post-World War II era, that’s the most new highs for the index since the 77 it set in 1954.

The market kept setting new highs despite plenty of challenges, including rising inflation, global supply chain disruptions and outbreaks of more contagious variants of the COVID-19 virus.

“Although there are a lot of things that people were nervous about all year and continue to be nervous about as we head to ’22, at the end of the day the U.S. (stock) market still seems to be the best game in town,” Kinahan said.

Still, the fast-spreading omicron variant and uncertainty over global supply chain disruptions remain overhangs going into the year. So is the looming end of the Federal Reserve’s easy-money policies.

The central bank has signaled plans to speed up its reduction in monthly bond purchases that have helped keep interest rates low. The shift in policy sets the stage for the Fed to begin raising rates as early as the first half of next year.

Trading was very slow Friday, with most of Wall Street on vacation and many fund managers already closed out of their positions for 2021.

The major indexes spent much of the day flipping between small gains and losses. The S&P 500 fell 12.55 points, or 0.3%, to 4,766.18. The Dow slid 59.78 points, or 0.2%, to 36,338.30. The Nasdaq fell 96.59 points, or 0.6%, to 15,644.97.


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## bigdog

https://apnews.com/article/business...ia-hong-kong-2a8b7d21950bee3894cfab9db3199b25

*More record highs for S&P 500, Dow on first day of 2022 *

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street got 2022 off to a solid start Monday with more record highs for the S&P 500 and the Dow Jones Industrial Average.

The S&P 500 rose 0.6% and the Dow finished 0.7% higher. Both indexes eclipsed the record highs they set last Wednesday. The Nasdaq composite rose 1.2%.

Technology stocks and a mix of retailers and other companies that rely on consumer spending accounted for a big share of the gains. Apple rose 2.5%, closing just shy of becoming the first company to hit a market capitalization of $3 trillion. It briefly traded above that level during the day.

Tesla jumped 13.5% for the biggest gain in the S&P 500 after after reporting strong delivery numbers for 2021.

Bond yields rose significantly. The yield on the 10-year Treasury rose to 1.64% from 1.51% Friday. That helped push up shares in banks, which rely on higher yields to charge more lucrative interest on loans. Bank of America rose 3.8%.

The market’s solid start to 2022 follows another banner year for stocks on Wall Street. The S&P 500 closed out 2021 with a gain of 26.9%, or a total return of 28.7%, including dividends. That’s nearly as much as the benchmark index gained in 2019.

The S&P 500′s latest milestones, following up on the 70 record highs it posted last year, are a sign investors remain bullish about stocks, despite the recent spike in COVID-19 cases from virus’ fast-spreading omicron variant and expectations that the Federal Reserve will begin pushing up interest rates sometime this year to fight rising inflation.

“It’s been going on for months and months. We’ve had all-time highs and we keep hitting them,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab. “When you still have a low interest rate environment, which we do, at least for now, (stocks) are the place to be.”

The S&P 500 rose 30.38 points to 4,796.56. The Dow gained 246.76 points to 36,585.06. The Nasdaq rose 187.83 points to 15,832.80.

Smaller company stocks also rose. The Russell 2000 gained 27.24 points, or 1.2%, to 2,272.56.

The major challenges to the economy and corporate profits that investors navigated in 2021 remain potential headwinds in the new year, including the viral pandemic. Wall Street has been busy since December monitoring the latest wave of cases with the omicron variant.

Businesses and consumers are also still dealing with supply chain problems and persistently rising inflation that has made a wide range of goods more expensive. The rising costs could threaten to crimp consumer spending and weaken economic growth.

The long list of concerns made for a choppy end to 2021, but didn’t stop the broader market from delivering strong annual gains for stock investors.

“Despite all of this growth in omicron virus, the S&P hasn’t been derailed, with the exception of the day after Thanksgiving, when the news first broke,” Frederick said.

While the strength in technology companies drove the S&P 500 overall higher Monday, the number of stocks in the index that rose were just about even with decliners.

Health care companies fell broadly and kept gains elsewhere in the market in check. Pfizer shed 4.1% despite news that the U.S. expanded use its COVID-19 booster shots for children as young as 12.

Industrial stocks also fell. Union Pacific, a railroad operator, slid 1.7%.

Investors have several key pieces of economic data to look forward to during the first week of the new year. The Institute for Supply Management will give investors an update on the manufacturing sector on Tuesday and the services sector on Thursday.

The big event on the economic calendar this week is the Labor Department’s jobs report on Friday.

ASX 200 futures pointing lower​The Australian share market is set to return to trade this morning in a disappointing fashion. According to the latest SPI futures from New Year’s Eve, the ASX 200 is expected to open the day 1% or 88 points lower. 

Wall Street got 2022 off to a solid start Monday with more record highs for the S&P 500 and the Dow Jones Industrial Average.

The S&P 500 rose 0.6% and the Dow finished 0.7% higher. Both indexes eclipsed the record highs they set last Wednesday. The Nasdaq composite rose 1.2%.


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## bigdog

https://apnews.com/article/coronavi...h-asia-japan-73d6ab7ae9e5225bbd9ad621d989237e

*Slumping tech stocks weigh on S&P 500 even as Dow gains*

By DAMIAN J. TROISE and ALEX VEIGA

A slide in technology stocks left the S&P 500 slightly lower on Wall Street Tuesday, even as the Dow Jones Industrial Average marked another all-time high.

The S&P 500 slipped 0.1%, while the tech-heavy Nasdaq composite fell 1.3% after a day of choppy trading. The Dow rose 0.6%, thanks partly to solid gains by Caterpillar and JPMorgan Chase, which rose 5.4% and 3.8%, respectively.

Banks were among the biggest gainers as bond yields rose, pushing the yield on the 10-year Treasury to 1.65% from 1.63% late Monday. The yield was at 1.51% on Friday. When investors sell bonds their prices fall and their yields rise.

More than 65% of the stocks in the S&P 500 rose. Still, the slump in technology stocks, which are the most heavily weighted sector in the benchmark index, left the S&P 500 in the red. Microsoft fell 1.7%, Apple slid 1.3% and chipmaker Nvidia dropped 2.8%.

“Interest-rate sensitive sectors are up and those longer-term growth sectors are down today; not surprising, given the two-day move in the 10-year Treasury,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management. “You’re seeing investors price in fairly strong growth in inflation expectations for the future, or at least for 2022.”

The S&P 500 fell 3.02 points to 4,793.54. The Nasdaq slid 210.08 points to 15,622.72. The Dow gained 214.59 points to 36,799.65.

Smaller company stocks gave up a little ground. The Russell 2000 index fell 3.68 points, or 0.2%, to 2,268.87.

Stocks got 2022 off to a good start Monday, with the S&P 500 and Dow setting new highs. A mix of economic data and corporate quarterly earnings reports should give investors some insight into the impact that the coronavirus pandemic and persistently rising inflation are having on companies and consumers.

The job market will be a major focus for investors, starting with the Labor Department’s jobs report for December, which will be released Friday. On Tuesday, the agency’s monthly Jobs Openings and Labor Turnover Survey showed that a record 4.5 million American workers quit their jobs in November, a sign of confidence and more evidence that the U.S. job market is bouncing back strongly from last year’s coronavirus recession.

“Markets are going to be trying to look through the year,” said Brad McMillan, chief investment officer for Commonwealth Financial Network. “Right now, markets are cautiously confident.”

OPEC and allied oil-producing countries plan to stick with their road map to slowly restore cuts in output made during the depths of the pandemic, including adding 400,000 barrels per day in February.

Some sectors of the economy are still struggling, especially with supply chain problems. Growth in manufacturing slowed in December to an 11-month low, according to The Institute for Supply Management, a trade group of purchasing managers. The organization will release its December report for the service sector on Thursday.

Investors are also anticipating the minutes from the Federal Reserve’s latest policy meeting in December, set for release on Wednesday. The central bank plans to hasten the withdrawal of its support for the markets and economy in the face of rising inflation. It will speed up its withdrawal of bond purchases that have helped keep interest rates low, and investors are closely watching the Fed for any signals on when it will eventually raise its benchmark interest rate.

“The big question is how worried is the Fed about inflation,” McMillan said. “We’re really on the cusp of seeing how the Fed is going to move and the minutes will be informative about that.”

Walgreens, Constellation Brands and Conagra report their latest quarterly earnings on Thursday.

ASX 200 expected to fall​The Australian share market looks set to edge lower on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 16 points or 0.2% lower this morning.

A slide in technology stocks left the S&P 500 slightly lower on Wall Street Tuesday, even as the Dow Jones Industrial Average marked another all-time high.

The S&P 500 slipped 0.06%, while the tech-heavy Nasdaq composite fell 1.33% after a day of choppy trading. The Dow rose 0.59%, thanks partly to solid gains by Caterpillar and JPMorgan Chase, which rose 5.4% and 3.8%, respectively.


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## bigdog

https://apnews.com/article/coronavi...cial-markets-efb1ea4f6544e958285f9c1e5ee6d1fd

*Anticipation that Fed will raise rates sends stocks lower*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks slumped and bond yields rose Wednesday as Wall Street interpreted the minutes from the Federal Reserve’s recent meeting of policymakers as a sign the central bank is poised to move faster to raise interest rates this year as it battles inflation.

The S&P 500 fell 1.9%, its biggest drop since September, as technology companies led a broad market slide. The tech-heavy Nasdaq composite fell 3.3%, its worst decline since February. The Dow Jones Industrial Average fell 1.1%, pulling back from the record high it set a day earlier.

Bond yields moved higher after the minutes from the Fed meeting came out. The yield on the 10-year Treasury note, a benchmark for setting rates on mortgages and many other kinds of loans, rose to 1.70% soon after the minutes were released, from 1.68% just before. It hasn’t been at 1.70% since April.

The Fed minutes showed that policymakers at their meeting last month expressed concerns that inflation, which has surged to four-decade highs, was spreading into more areas of the economy and would last longer than they previously expected. The Fed officials also concluded that the U.S. job market was nearly at levels healthy enough that the Fed’s low-interest rate policies were no longer needed.

For both those reasons, Fed Chair Jerome Powell said after the Dec. 14-15 meeting that the central bank was accelerating the reduction of its ultra-low interest rate policies.

Even so, Wall Street appeared to read the minutes as a sign that the central bank will be perhaps more aggressive about rolling back the economic stimulus policies it put in place after the pandemic, which could mean a faster road to higher interest rates.

“We believe the Fed is likely to raise interest rates quicker and potentially shrinking their balance sheet sooner than many expect as they signal fighting inflation is more important than protecting against a drop in economic activity,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance.

The S&P 500 fell 92.96 points to 4,700.58. The Dow fell 392.54 points to 36,407.11. The Nasdaq dropped 522.54 points to 15,100.17.

Small-company stocks also posted sizable losses. The Russell 2000 fell 74.87 points, or 3.3%, to 2,194.

The Fed minutes show that policymakers discussed how they may have to raise short-term interest rates at a quicker pace and allow their bond purchases to roll off sooner than they did in past attempts to get interest rates back to normal.

“They noted that current conditions included a stronger economic outlook, higher inflation, and a larger balance sheet and thus could warrant a potentially faster pace of policy rate normalization,” according to the minutes.

The message seemed to catch bond investors, in particular, off guard.

“The Fed’s been talking, but the bond market hasn’t been listening,” said Willie Delwiche, investment strategist at All Star Charts. “That started to change this week, and the minutes today echoed what the bond market is starting to reflect this week, and (stocks) are taking notice of that.”

Roughly 80% of stocks in the benchmark S&P 500 fell. Technology companies, which led gains on Monday and then pulled the broader market lower on Tuesday, were the biggest drag on the index. Microsoft fell 3.8% and software maker Adobe shed 7.1%.

A mix of retailers and other companies that rely on consumer spending also lost ground. Tesla slid 5.4% and Amazon fell 1.9%.

AT&T rose 2.2% after giving investors an encouraging update on subscriber growth.

European markets closed mostly higher and Asian markets closed mostly lower overnight.

Investors are dealing with a busy first week of the new year with a wide range of economic data. The latest latest reports on different sectors of the economy and the employment market come as Wall Street continues gauging the potential economic impact of rising inflation and the latest wave of COVID-19 cases.

On Thursday, the Institute for Supply Management will release its service sector index for December, giving Wall Street a better picture of how the economy’s largest sector is handling the latest surge of COVID-19 cases from the highly contagious omicron variant.

On Friday, the Labor Department will release its monthly employment report for December.


ASX 200 expected to edge lower​The Australian share market looks set to edge lower on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 5 points or 0.1% lower this morning. 

Stocks slumped and bond yields rose Wednesday as Wall Street interpreted the minutes from the Federal Reserve’s recent meeting of policymakers as a sign the central bank is poised to move faster to raise interest rates this year as it battles inflation.

The S&P 500 fell 1.94%, its biggest drop since September, as technology companies led a broad market slide. The tech-heavy Nasdaq composite fell 3.34%, its worst decline since February. The Dow Jones Industrial Average fell 1.07%, pulling back from the record high it set a day earlier.


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## bigdog

https://apnews.com/article/business-asia-sydney-tokyo-stock-markets-40f5f428aac34a2a9bf0e5a2a8837885

*More weakness in technology stocks leaves US indexes lower*

By DAMIAN J. TROISE and ALEX VEIGA

Technology and health care companies helped pull stocks lower on Wall Street Thursday, driving the market indexes deeper into the red for the first week of the year.

The S&P 500 slipped 0.1% after wobbling between gains and losses for much of the day. The Dow Jones Industrial Average also gave up an early gain, shedding 0.5%. The tech-heavy Nasdaq fell 0.1% a day after posting its biggest drop in nearly a year.

Weakness in big tech companies like Apple was the main culprit. The iPhone maker fell 1.7%. Health care stocks also helped drag down the benchmark S&P 500 index, outweighing gains by banks, energy companies and other sectors.

Bonds continued to climb. The yield on the 10-year Treasury rose to 1.73%, the highest level since March. It was 1.70% late Wednesday.

The selling followed a broad slide for the markets on Wednesday, when the Federal Reserve indicated it was ready to raise interest rates to fight off inflation.

“Investors are continuing to readjust their holdings to reflect the expectation of a more aggressive Fed down the road,” said Sam Stovall, chief investment strategist at CFRA

The S&P 500 fell 4.53 points to 4,696.05. The Dow slipped 170.64 points, or 0.5%, to 36,236.47. The Nasdaq composite lost 19.31 points to 15,080.86.

Smaller company stocks bucked the broader market. The Russell 2000 index rose 12.37 points, or 0.6%, to 2,206.37.

Stocks have been choppy this week as traders reacted to the big rise in bond yields. The S&P 500 and Dow both set all-time highs on Monday, only to lose ground in subsequent days. The major indexes are now on pace to post weekly losses.

Investors have been closely monitoring rising inflation’s impact on consumers and businesses. They have also been watching the Fed’s plans to dial back its ultra-low interest rate policies. Minutes from the central bank’s meeting in December showed that policymakers expressed concerns that inflation, which has surged to four-decade highs, was spreading into more areas of the economy and would last longer than they previously expected.

The central bank has already said it will accelerate the reduction of its bond purchases, which have helped keep interest rates low. Investors are watching for the impact from that pullback and gauging how quickly and how often the central bank will raise its benchmark interest rate.

Wall Street has also been weighing several economic reports this week.

On Thursday, The Institute for Supply Management reported that growth in the U.S. service industry, where most Americans work, pulled back in December after expanding at a record pace the previous two months.

The Labor Department reported that the number of Americans applying for unemployment benefits rose last week but remained at historically low levels, suggesting that the job market remains strong. The agency will release its monthly jobs report on Friday.

Wall Street may be bracing for a stronger-than-expected jobs report, given that payroll processor ADP’s latest monthly hiring survey, which was released Wednesday, showed that private U.S. companies hired 807,000 workers in December, or more than double the consensus forecast, according to FactSet. A strong jobs report could give the Federal Reserve more urgency to raise interest rates in order to tackle inflation.

Beyond technology companies, a mix of retailers and health care stocks weighed on the market Thursday. Tesla fell 2.2% and UnitedHealth Group fell 4.1%

Banks benefited from the rise in bond yields, which allow lenders to charge more lucrative interest on loans. Citigroup gained 3.3%.

U.S. crude oil prices rose 2.1%, which helped push energy stocks higher. ConocoPhillips rose 3.8%.

ASX 200 expected to rebound​The Australian share market looks set to rebound strongly from yesterday’s selloff. According to the latest SPI futures, the ASX 200 is expected to open the day 91 points or 1.25% higher this morning. 

Technology and health care companies helped pull stocks lower on Wall Street Thursday, driving the market indexes deeper into the red for the first week of the year.

The S&P 500 slipped 0.1% after wobbling between gains and losses for much of the day. The Dow Jones Industrial Average also gave up an early gain, shedding 0.5%. The tech-heavy Nasdaq fell 0.1% a day after posting its biggest drop in nearly a year.


----------



## bigdog

https://apnews.com/article/coronavi...cial-markets-7096c8545d0b9ce5c09ae97579f9c13a

*Stocks end lower after mixed jobs data as tech sinks again *

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Stocks closed lower and Treasury yields rose Friday with much of Wall Street anticipating that the Federal Reserve will raise interest rates as soon as March despite a mixed report on the U.S. jobs market.

The downbeat finish capped the worst week for the S&P 500 technology sector since October and the biggest weekly drop for the tech-heavy Nasdaq in nearly a year.

The S&P 500 fell 0.4%, and the yield on the 10-year Treasury hit its highest level since COVID-19 began pummeling markets at the start of 2020. The benchmark index had been up 0.3% in the early going and then fell as much as 0.7% following the mixed reading from the U.S. Labor Department, which is usually the most anticipated piece of economic data every month.

Employers added only about half the number of jobs last month that economists expected, a seeming negative for the economy. But average wages rose more for workers than expected. On the whole, many investors saw it as evidence that the jobs market is strong enough for the Federal Reserve to continue leaning toward raising interest rates more quickly off their record lows.

“Does this bring the Fed to the table in March or in June?” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. “It’s a moot point, in the long run. They’re going to raise rates in 2022.”

Higher rates could help corral the high inflation sweeping the world, but they would also mark an end to the conditions that have put financial markets in “easy mode” for many investors since early 2020. Higher rates also make shares in high-flying tech companies and other expensive growth stocks less attractive, which is why the S&P 500 tech sector bore the brunt of the sell-off this week as bond yields rose.

Immediately after the report’s release, Treasury yields continued the sharp climbs they’ve been on this week as expectations have built for the Fed to raise rates more quickly. The yield on the 10-year Treasury hit 1.77%, up from 1.73% late Thursday. That’s its highest closing point since the middle of January 2020, according to Tradeweb.

Investors are now pricing a better than 79% probability that the Fed will raise short-term rates in March. A month ago, they saw less than 39% of a chance of that, according to CME Group.

“The miss (on job additions) was not big enough to change any of the plans of Fed as far as the tightening cycle goes,” said Cliff Hodge, chief investment officer for Cornerstone Wealth.

Brian Jacobsen, senior investment strategist at Allspring Global Investments, pointed to how hourly wages for workers in the leisure and hospitality businesses were up 14% from a year earlier. That’s a strong leap for a group that accounts for roughly one of every eight workers in the private sector.

“It’s a strong report,” Jacobsen said, “and probably confirms for the Fed” that it should remain biased more toward raising rates than continuing to pump massive amounts of aid into the economy.

Record-low rates have been a major reason for the stock market’s run to records since the pandemic struck. When bonds are paying little in interest, people are wiling to pay higher prices for stocks and other investments.

That’s why any potential rate increase raises nervousness, though the Fed has clearly telegraphed it may raise rates three times in 2022. It has already slowed monthly purchases of bonds it’s making to lower longer-term interest rates, and minutes released this week from its last meeting showed the Fed may dump such purchases off its balance sheet more quickly this time.

Friday’s pullback marked the S&P 500′s fourth straight drop. It ended down 19.02 points to 4,677.03, or about 2.5% below the all-time high it set Monday.

The Dow Jones Industrial Average slipped 4.81 points, or less than 0.1%, at 36,231.66, after earlier flipping between a gain of 146 points and a loss of 124. The Nasdaq composite fell 144.96 points, or 1%, to 14,935.90. The major indexes all posted a weekly loss, though the Nasdaq’s weekly slide was its biggest since late February.

The Nasdaq has more technology stocks than other indexes, and such companies tend to be hurt more by rising interest rates. It’s the flip side of the benefit they had through much of the pandemic, when low rates pushed investors to pay higher prices for companies able to grow regardless of the economy’s strength. Low rates also made investors more willing to buy companies whose big expected profits may take years to come to fruition.

Smaller company stocks fell more than the broader market. The Russell 2000 index fell 26.56 points, or 1.2%, to 2,179.81.

Tesla fell 3.5% and Nvidia slid 3.3%. Both were among the heaviest weights on the S&P 500.


----------



## bigdog

ASX 200 expected to edge higher​The Australian share market looks set to start the week on a mildly positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 2 points higher this morning. 

This follows a poor end to the week on Wall Street, which saw the Dow Jones trade flat, the S&P 500 fall 0.4%, and the Nasdaq drop 1%.

Stocks closed lower and Treasury yields rose Friday with much of Wall Street anticipating that the Federal Reserve will raise interest rates as soon as March despite a mixed report on the U.S. jobs market.

The downbeat finish capped the worst week for the S&P 500 technology sector since October and the biggest weekly drop for the tech-heavy Nasdaq in nearly a year.


----------



## bigdog

https://apnews.com/article/business...ey-hong-kong-a16451b6c59ac091c97b5301f4d5331a

*Stocks end modestly lower after recouping most of early loss*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks on Wall Street fell again Monday, though the market ended up bouncing nearly all the way back from an early slide led by technology companies.

A broad wave of selling pulled had the S&P 500 down by 2% in the early going, but a late-afternoon burst of buying left the benchmark index with a loss of just 0.1%. The Dow Jones Industrial Average fell 0.5% after having been down 1.6%, and the tech-heavy Nasdaq eked out a gain of less than 0.1% after having been down 2.7%.

The latest pullback followed a sell-off last week as investors shifted holdings in anticipation that the Federal Reserve will raise interest rates this year, among other moves aimed at lowering inflation. Wall Street is trying to get a better read on when and by how much the Fed will lift rates.

“It has the market a little bit rattled from the uncertainty of it all,” said J.J. Kinahan, chief strategist with TD Ameritrade. “I would expect volatility to continue to stay elevated for the rest of the first quarter, at least, as we continue to grapple with this question.”

The S&P 500 slipped 6.74 points to 4,670.29. The drop extended the index’s losing streak to five days. It’s now about 2.6% below the all-time high it set a week ago.

The Dow fell 162.79 points to 26,068.87, after having been down 591 points in the early going. The Nasdaq rose 6.93 points to 14,942.83, snapping a four-day losing streak. Small company stocks also lost ground. The Russell 2000 fell 8.66 points, or 0.4%, to 2,171.15.

The selling began to lose momentum at the same time as a rise in Treasury yields eased. The 10-year Treasury briefly hit 1.84% before slipping back to 1.76% by late afternoon. That matches where the yield was late Friday.

Early on, when bond yields were rising, technology stocks were the biggest drag on the S&P 500. Higher interest rates make the stocks of expensive tech companies and other pricey growth companies less attractive to investors, which is why the sector has been slipping as bond yields rise. The tech sector has been the biggest weight on the market through January and is coming off of its worst week since October 2020.

Big technology stocks have an outsized influence on the S&P 500 because of their huge size. Coming into the year, the technology sector represented 29.2% of the S&P 500.

Higher interest rates could help corral the high inflation sweeping the world, but they would also mark an end to the conditions that have put financial markets in “easy mode” for many investors since early 2020. The Fed has said it will accelerate the reduction of its bond purchases, which have helped keep interest rates low. The market now puts the chances of the Fed raising short-term rates by at least a quarter point in March at around 78%. A month ago, it was about 36%.

Industrial stocks, banks and a mix of companies that rely on consumer spending accounted for a big share of the S&P 500′s decline Monday. Those losses were kept in check by gains in health care, technology and communication stocks.

A mix of deal news and financial updates moved several large stocks.

Take-Two Interactive, maker of “Grand Theft Auto,” plunged 13.1% for the biggest decline in the S&P 500 after announcing a deal to buy Zynga, which makes “Words With Friends” and “Farmville.” Zynga jumped 40.7%.

Athletic apparel maker Lululemon Athletica fell 1.9% after warning investors that a surge in virus cases hurt its fourth-quarter financial results. Medical products maker and distributor Cardinal Health fell 5.9% after saying that supply chain problems will hurt profits for its medical segment.

Investors have a busy week of economic reports and corporate earnings.

On Wednesday, the Labor Department will release an update on how inflation is impacting prices with its Consumer Price Index for December. The agency will release give investors details on how inflation is impacting businesses with its Producer Price Index for December on Thursday.

On Friday, Citigroup, JPMorgan Chase and Wells Fargo will report their latest quarterly financial results.

ASX 200 expected to fall​The Australian share market looks set to tumble on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 43 points or 0.6% lower this morning. 

Stocks on Wall Street fell again Monday, though the market ended up bouncing nearly all the way back from an early slide led by technology companies.  On closing, the Dow Jones was down 0.45%, the S&P 500 down 0.14%, and the Nasdaq trading 0.05% higher.


----------



## bigdog

https://apnews.com/article/coronavi...h-china-asia-0f39358a57737e9ab88cc3f7171eab4c

*Stocks shake off an early loss, end higher as tech rebounds*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks shook off an early slide and closed higher Tuesday as Wall Street welcomed more modest moves in the bond market after a recent surge in Treasury yields weighed on the market.

The S&P 500 rose 0.9% after having been down 0.7% in the early going. The selling eased by afternoon, with technology stocks reversing course and turning higher. The benchmark index was coming off five straight losses and hadn’t had a winning day since the first trading day of the year, when it set an all-time high.

The Dow Jones Industrial Average rose 0.5% and the tech-heavy Nasdaq rose 1.4%. Smaller company stocks also bounced back, pushing the Russell 2000 1.1% higher.

Bond yields, which have risen sharply since the beginning of the year, edged lower. The yield on the 10-year Treasury fell to 1.74% from 1.77% late Monday. Yields affect interest rates on mortgages and other consumer loans.

“Once rates started to stabilize, it started to put some of the investor fears about rates going up on a one-way train at ease, which then put a little bit of a bid back under technology,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute. “We don’t need rates to go down, we just need them to level off or move at a much slower pace.”

The S&P 500 rose 42.78 points to 4,713.07, and the Dow added 183.15 points to 36,252.02. The Nasdaq rose 210.62 points to 15,153.45, while the Russell 2000 picked up 22.85 points to 2,194. The indexes are all in the red so far this month.

Traders are trying to calibrate how markets and the economy will handle the higher interest rates that are likely on the way from the Federal Reserve this year. That has weighed heaviest on pricey technology stocks, which become less attractive to investors as interest rates rise.

Technology stocks have been choppy since late Monday, when a late-afternoon rally for the sector trimmed much of the broader market’s losses. Apple rose 1.7% and chipmaker Nvidia rose 1.5%.

Communication stocks and a mix of retailers and other companies that rely on direct consumer spending rose. Facebook parent Meta Platforms gained 1.9% and Gap rose 31%.

Energy futures rose. The price of U.S. crude oil jumped 3.8%, helping boost energy stocks. Exxon Mobil rose 4.2%.

Utilities and other investments that are considered less risky fell.

The Fed has said it will accelerate the reduction of its bond purchases, which have helped keep interest rates low. The market now puts the chances of the Fed raising short-term rates by at least a quarter point in March at around 78%. A month ago, it was about 36%.

The central bank is easing up on its support for the U.S. economy and financial markets as businesses and consumers face persistently rising inflation.

Fed Chair Jerome Powell acknowledged Tuesday that high inflation has emerged as a serious threat to the Fed’s goal of helping put more Americans back to work and that the Fed will raise rates more than it now plans if needed to stem surging prices. Powell spoke at a hearing of the Senate Banking Committee, which is considering his nomination for a second four-year term.

The World Bank downgraded its forecast for the global economy, partly blaming supply chain problems that have been fueling inflation. The 189-country, anti-poverty agency forecasts worldwide economic growth of 4.1% this year, down from the 4.3% growth it was forecasting last June. It’s also down from the 5.5% expansion it estimates the global economy tallied in 2021.

Investors will get two key reports on inflation this week from the Labor Department. The consumer price index for December will be released on Wednesday and give update on how inflation is driving the price of goods for consumers. An index based on U.S. wholesale prices in December will be released on Thursday and provide another update on how inflation is affecting costs for businesses.

Wall Street is also watching rising numbers of coronavirus cases globally to gauge the economic impact. China, the world’s second-largest economy, has put a third city on lockdown because of the latest surge.

Major companies, including automakers such as Toyota, had been counting on a recovery in the supply of semiconductor chips and other products from China and the rest of Asia, as vaccinations and other coronavirus prevention efforts has advanced. The recent surge in infections by the omicron variant of coronavirus has shaken such hopes.

ASX 200 expected to rebound​The Australian share market looks set to rebound on Wednesday following a strong night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 53 points or 0.7% higher this morning. 

Stocks shook off an early slide and closed higher Tuesday as Wall Street welcomed more modest moves in the bond market after a recent surge in Treasury yields weighed on the market.  On closing, the Dow was up 0.51%, the S&P 500 up 0.92%, and the Nasdaq is trading 1.41% higher.


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## bigdog

https://apnews.com/article/business-asia-sydney-tokyo-stock-markets-df4b97e842457eecca61eea8a4d29902

*Stocks rise as inflation report keeps rate hikes on track*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped a day of wobbly trading with modest gains for stocks Wednesday, as investors weighed the implications of the latest economic snapshot showing rising inflation.

The S&P 500 rose 0.3% after veering between a loss of 0.1% and a gain of 0.8% over the course of the day. The Dow Jones Industrial Average eked out a 0.1% gain, while the Nasdaq composite rose 0.2%.

Investors were focused on a report from the Labor Department, which showed consumer prices jumped 7% last month. That’s the fastest year-over-year pace in the consumer price index in nearly four decades. The sharp increase, which was in line with economists’ forecasts, came a day after Fed Chair Jerome Powell told Congress that the central bank stands ready to raise rates to fight inflation.

“That’s the next (thing) that investors are looking at, trying to figure out what the Fed is really, really going to do and what they really can do,” said Tom Martin, senior portfolio manager with Globalt Investments.

The S&P 500 index rose 13.28 points to 4,726.35. It’s now about 1.5% below the all-time high it set early last week. The Dow gained 38.30 points to 36,290.32. The Nasdaq rose 34.94 points to 15,188.39. The indexes are all on pace for a weekly gain.

The modest gains were led by technology stocks, which have been choppy in recent days. The prospect of higher interest rates tends to make pricey sectors like tech less appealing. Microsoft rose 1% and chipmaker Nvidia rose 0.7%.

A mix of retailers and other companies that rely on direct consumer spending, such as auto companies, also made solid gains. Nike rose 1.3%.

Health care companies were the only laggard among stocks in the S&P 500. Biogen slid 6.7% on news that Medicare is limiting coverage of the biopharmaceutical company’s $28,000-a-year Alzheimer’s drug whose benefits have been widely questioned.

Smaller company stocks lost ground. The Russell 2000 index fell 17.95 points, or 0.8%, to 2,176.06.

Bond yields were mostly stable. The yield on the 10-year Treasury fell to 1.73% from 1.74% late Tuesday.

Wall Street has been closely watching rising inflation to gauge the impact on businesses and consumers, as well as on the Fed’s plan to trim its support for the economy and markets.

The central bank is reducing bond purchases that helped keep interest rates low throughout the virus pandemic. Investors are closely watching to see just how soon the Fed will start raising interest rates to fight inflation.

“We’re in a period where I don’t think we’ve ever been before with the amount of stimulus that was put to work,” said Greg Marcus, managing director of UBS Private Wealth Management. “You can’t have that much of an increase without having inflation ticking up.”

The market now puts the chances of the Fed raising short-term rates by at least a quarter point in March at around 75%. A month ago, it was about 36%.

Wall Street will get another update on rising inflation on Thursday, when the Labor Department releases December results from an index based on U.S. wholesale prices, which shows how inflation is affecting costs for businesses.

Businesses in a wide range of industries have been passing higher costs off to consumers, but many have been warning that they will still feel a financial impact because of higher prices and supply chain problems. Medical products maker Cardinal Health was the latest to issue such a warning earlier this week.

Wall Street will be closely watching the latest round of earnings to see how companies are dealing with inflation. Several airlines and banks this week will be among the first big companies to report their latest financial results.

Delta Air Lines reports its results on Thursday. Citigroup, JPMorgan Chase and Wells Fargo report results on Friday.

ASX 200 expected to edge higher​The Australian share market looks set to edge higher on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 5 points or 0.1% higher this morning. 

Wall Street capped a day of wobbly trading with modest gains for stocks Wednesday, as investors weighed the implications of the latest economic snapshot showing rising inflation.

The S&P 500 rose 0.28% after veering between a loss of 0.1% and a gain of 0.8% over the course of the day. The Dow Jones Industrial Average eked out a 0.11% gain, while the Nasdaq composite rose 0.23%.


----------



## bigdog

https://apnews.com/article/coronavi...h-asia-japan-949ef89e648024f197892b2f9f51243a

*Tech stocks lead Wall Street lower again, Nasdaq falls 2.5%*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies led a sell-off on Wall Street Thursday that pulled the major indexes into the red for the week.

The S&P 500 fell 1.4% after shedding an early gain of 0.4%. The benchmark index was coming off two days of gains following daily losses since the first day of trading in 2022. The tech-heavy Nasdaq slumped 2.5%. The Dow Jones Industrial Average fell 0.5%.

The selling came as investors gauged company earnings reports and new data pointing to rising prices at the wholesale level. Inflation has been a key focus for investors as they try to gauge how rising prices will impact businesses, consumers and the Federal Reserve’s policy on interest rates in 2022.

“Investors are continuing to be concerned that the worst is yet to be seen in terms of inflation,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 fell 67.32 points to 4,659.03, while the Dow slid 176.70 points to 36,113.62. The Nasdaq lost 381.58 points to 14,806.81. The three indexes are each on pace for another weekly loss.

Smaller company stocks also fell. The Russell 2000 slid 16.62 points, or 0.8%, to 2,159.44.

Bond yields mostly edged lower. The yield on the 10-year Treasury slipped to 1.70% from 1.73% from late Wednesday.

The Labor Department on Thursday reported that its producer price index, which measures prices at the wholesale level, surged by a record 9.7% for all of 2021. The increase set an annual record and provides further evidence that inflation is still present at all levels of the U.S. economy. The report follows Wednesday’s release of consumer price data for December, which showed that inflation jumped at its fastest pace in nearly 40 years last month.

“The producer price index figures came in a little bit better than expected, but still very high, and as a result they were disconcerting to investors,” Stovall said.

Wall Street has been closely watching rising inflation to gauge the impact on businesses and consumers, as well as on the Fed’s plan to trim its support for the economy and markets. The central bank is reducing bond purchases that helped keep interest rates low throughout the virus pandemic. Earlier this week, Fed Chair Jerome Powell told Congress that the central bank stands ready to raise rates to fight inflation.

Big technology stocks, which have an outsized influence on the S&P 500 because of their high valuations, accounted for a big share of the decline Thursday. The sector has been slipping in January as investors shift money in anticipation of rising interest rates, which tend to make pricey tech stocks less attractive.

Chipmaker Nvidia fell 5.1% and software maker Adobe fell 2.9%.

“It is a little bit of a confusing narrative for the first two weeks of this year,” said Scott Ladner, chief investment officer at Horizon Investments. “The market is really coming to grips with selling really highly valued, profitless tech names and finding other places to put money.”

Many of the big tech companies with solid revenue and profits, such as Apple and Microsoft, will suffer less than their counterparts that have little revenue, but rosy projections, he said.

Even so, those big tech names also lost ground Thursday. Apple fell 1.9% and Microsoft fell 4.2%.

Health care stocks, communication services firms and a mix of companies that rely on direct consumer spending were among the decliners. Pfizer fell 2%, Facebook parent Meta Platforms dropped 2% and Amazon slid 2.4%.

Industrial companies were among the few gainers. Delta Air Lines rose 2.1% after reporting surprisingly good fourth-quarter financial results. Other airlines also got a boost. American Airlines rose 4.5% and United Airlines rose 3.5%.

Financial stocks were mixed ahead of quarterly report cards Friday from several major banks, including JPMorgan Chase and Citigroup.

Investors are also monitoring how the latest wave of COVID-19 cases affects the global economy. In Asia, the omicron variant has swept across Australia and is gaining ground in other countries despite high vaccination rates, mask requirements and strict border policies.

Japan reported more than 13,000 new infections on Wednesday, the highest level in four months. China, whose zero-COVID policies are being challenged by outbreaks just weeks ahead of the Beijing Winter Games, is testing and in some cases locking down entire cities.

Markets in Asia and Europe ended mixed.

ASX 200 expected to fall​The Australian share market looks set to end the week in a disappointing fashion. According to the latest SPI futures, the ASX 200 is expected to open the day 18 points or 0.25% lower this morning. 

Technology companies led a sell-off on Wall Street Thursday that pulled the major indexes into the red for the week.

The S&P 500 fell 1.4% after shedding an early gain of 0.4%. The benchmark index was coming off two days of gains following daily losses since the first day of trading in 2022. The tech-heavy Nasdaq slumped 2.5%. The Dow Jones Industrial Average fell 0.5%.


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## bigdog

https://apnews.com/article/business-asia-tokyo-hong-kong-china-8129d8ff0e459d29a1619b2c1699b312

*Stocks end mostly higher, but still log another losing week*

By DAMIAN J. TROISE and ALEX VEIGA

A late-afternoon recovery in technology stocks helped erase most of the market’s losses Friday, though it wasn’t enough to keep major indexes from posting their second straight losing week.

The S&P 500 eked out a 0.1% gain in the final minutes of trading after having been down about 1% earlier in the day. The tech-heavy Nasdaq came back from a 0.8% slide to post a 0.6% gain. The Dow Jones Industrial Average fell 0.6%.

The rally in technology stocks, plus gains in energy and other sectors, helped outweigh declines in banks and elsewhere in the market on a day when investors were mainly focused on a mix of company earnings reports and discouraging data on retail sales.

The mixed finish capped a week of choppy trading on Wall Street that deepened the market’s January slump. The benchmark S&P 500, which soared 26.9% in 2021, is now about 2.8% below the all-time high it set on Jan. 3.

“Stocks clearly are off to a slow start year-to-date, but perhaps for good reason,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. “There’s perhaps some profit-taking and time needed for digestion following those strong returns, particularly as we’re moving into a new regime of higher inflation and a Federal Reserve that’s less accommodative.”

The S&P 500 rose 3.82 points to 4,662.85, while the Nasdaq gained 86.94 points to 14,893.75. The Dow fell 201.81 points to 35,911.81.

The Commerce Department reported Friday that retail sales sank 1.9% in December after Americans cut their spending in the face of product shortages, rising prices and the onset of the omicron variant.

“That’s a lot of bad things to happen in a short amount of time in one of the strongest retail months of the year,” said Robert Cantwell, portfolio manager at Upholdings.

A wide range of retailers and other companies that rely on direct consumer spending fell following the weak retail sales report. Home Depot fell 3.9% and Whirlpool fell 4.3%.

The disappointing retail report is the latest in a series of economic reports this week that has raised concern about inflation and its impact on businesses and consumer spending.

The Labor Department reported on Wednesday that consumer inflation jumped at the fastest pace in nearly 40 years last month, a 7% spike from a year earlier that is increasing household expenses and biting into wage gains. The government agency also reported on Thursday that prices at the wholesale level surged by a record 9.7% for all of 2021.

Rising prices have been prompting businesses to pass more costs on to consumers. Consumers have been pulling back on spending at department stores, restaurants and online as a result of higher prices and supply shortages.

Businesses are also feeling the impact from inflation. Paint maker Sherwin-Williams fell 2.8% after reporting disappointing fourth-quarter earnings because of raw materials costs and supply chain problems. Boston Beer, which makes Sam Adams beer, slid 8.1% after cutting its earnings forecast because of supply chain problems.

Concerns over persistently rising inflation are also prompting the Federal Reserve to trim its bond purchases and consider raising interest rates earlier and more often than Wall Street had expected less than a year ago.

“Our belief is that the backdrop is still favorable for (stock) prices, but we’re seeing a reset in valuations, and that’s a function of interest rates trending a little higher,” Sandven said.

Bond yields rose. The yield on the 10-year Treasury rose to 1.79% from 1.70% late Thursday.

JPMorgan Chase slumped 6.2% for the biggest decline in the S&P 500 after reporting that its profits fell 14% in the latest quarter from a year earlier as its trading business slumped. Citigroup fell 1.3% after reporting its latest results.

The late burst of buying in technology stocks helped temper the market’s losses. Microsoft rose 1.8%

The price of U.S. crude oil rose 2.1% and helped send energy stocks higher. Marathon Oil rose 4.9%.

Smaller company stocks also bounced back from an early slide. The Russell 2000 index rose 3.02 points, or 0.1%, to 2,162.46.


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## bigdog

ASX 200 expected to rise​
The Australian share market looks set to start the week in a positive fashion. According to the latest SPI futures, the ASX 200 is expected to open the day 28 points or 0.4% higher this morning. 

This follows a mixed end to the week on Wall Street, which saw the Dow Jones fall 0.55%, the S&P 500 rise 0.1%, and the Nasdaq storm 0.6% higher.  

A late-afternoon recovery in technology stocks helped erase most of the market’s losses Friday, though it wasn’t enough to keep major indexes from posting their second straight losing week.

The S&P 500 eked out a 0.1% gain in the final minutes of trading after having been down about 1% earlier in the day. The tech-heavy Nasdaq came back from a 0.8% slide to post a 0.6% gain. The Dow Jones Industrial Average fell 0.6%.


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## bigdog

*NYSE CLOSED MONDAY JANUARY 17 FOR Martin Luther King, Jr. Day*

*In Europe the Dax rose 0.3% and the FTSE stormed 0.9% higher.*

https://www.usnews.com/news/busines...ares-mixed-after-china-reports-slowing-growth

World Shares Mixed After China Reports Slowing Growth​World shares are mixed after China reported that its economy expanded at an 8.1% annual pace in 2021, though growth slowed to half that level in the last quarter.

By Associated Press

By ELAINE KURTENBACH, AP Business Writer

BANGKOK (AP) — World shares were mixed on Monday after China reported that its economy expanded at an 8.1% annual pace in 2021, though growth slowed to half that level in the last quarter.

The weakness in China's economy toward the end of 2021 is prompting suggestions Beijing should intervene to prop up growth with interest rate cuts or by injecting money into the economy through public works spending.

Shortly before the growth data were released, the Chinese central bank announced a rate cut on medium-lending to commercial banks to the lowest level since 2020.

“Economic momentum remains weak amid repeated virus outbreaks and a struggling property sector," Julian Evans-Pritchard of Capital Economics said in a commentary. He expects China's policymakers to keep limits on lending relatively tight and control credit growth.

“The upshot is that policy easing is likely to soften the economic downturn rather than drive a rebound," he said.

Slowing activity in China, the region's biggest economy, can chill growth throughout the region. Lockdowns and other precautions imposed to combat outbreaks of coronavirus can also worsen shortages of key parts and components, adding to difficulties with shipping and supply chains.

The Shanghai Composite index gained 0.6% to 3,541.67, while Hong Kong's Hang Seng dropped 0.7% to 24,218.43.

South Korea's Kospi sank 1.1% to 2,890.10 after North Korea fired two suspected ballistic missiles into the sea early Monday in its fourth weapons launch this month, South Korea’s military said, with the apparent goal of demonstrating its military might amid paused diplomacy with the United States and pandemic border closures.

Germany's DAX gained 0.2% to 15,910.54 and the CAC 40 in Paris also was up 0.2%, at 7,156.53. Britain's FTSE 100 jumped 0.7% to 7,592.79. The future for the S&P 500 picked up 0.2% while that for the Dow Jones Industrial Average edged 0.1% higher.

In Asian trading, Tokyo's Nikkei 225 advanced 0.7% to 28,333.52 as the government reported machinery orders rose in November as private investment and manufacturing activity improved during a lull in coronavirus outbreaks. Shipbuilders orders surged 170%.

Australia's S&P/ASX 200 climbed 0.3% to 7,417.30.

On Friday, the S&P 500 eked out a 0.1% gain, closing at 4,662.85. The tech-heavy Nasdaq surged 0.6% to 14,893.75. The Dow Jones Industrial Average fell 0.6% to 35,911.81.

Smaller company stocks also bounced back from an early slide. The Russell 2000 index rose 0.1%, to 2,162.46.

A rally in technology stocks, plus gains in energy and other sectors, helped outweigh declines in banks and elsewhere in the market on a day when investors were mainly focused on a mix of company earnings reports and discouraging data on retail sales.

The mixed finish capped a week of choppy trading on Wall Street that deepened the market's January slump. The benchmark S&P 500, which soared 26.9% in 2021, is now about 2.8% below the all-time high it set on Jan. 3.

The yield on the 10-year Treasury was steady at 1.79%.

The price of U.S. crude oil rose 30 cents to $84.12 per barrel in electronic trading on the New York Mercantile Exchange. On Friday, it rose 2.1%, helping to send energy stocks higher.

Brent crude added 6 cents to $86.12 per barrel.

The U.S. dollar rose to 114.32 Japanese yen from 114.18 yen. The euro climbed to $1.1430 from $1.1417.


ASX 200 expected to rise again​The Australian share market looks set to continue its ascent on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 24 points or 0.3% higher this morning.

*The US market was closed on Monday for Martin Luther King Jr Day. In Europe the Dax rose 0.3% and the FTSE stormed 0.9% higher.*





Monday, January 17


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## bigdog

https://apnews.com/article/coronavi...g-kong-seoul-b576ce3d550feb121f806a055d6c64eb

*Technology, bank stocks drag Wall St to new low for 2022 *

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies led a broad sell-off on Wall Street Tuesday as bond yields surged amid renewed jitters that the Federal Reserve will act more aggressively than expected to tackle rising inflation.

The S&P 500 fell 1.8%, with about 90% of the stocks in the benchmark index closing in the red. The Nasdaq, which is heavily weighted with technology stocks, slid 2.6%. The Dow Jones Industrial Average fell 1.5%.

The major indexes’ losses have mounted this month as rising inflation and the virus pandemic’s latest surge cause investors to take caution.

Heightened expectations of a rate hike from the Fed have kept Treasury yields rising. The 10-year Treasury hit 1.87% Tuesday, the highest since January 2020. It was at 1.77% late Friday.

Investors are now pricing in a better than 86% probability that the Fed will raise short-term rates at its meeting of policymakers in March. A month ago, they saw less than a 47% chance of that, according to CME Group.

The 10-year yield “just continues to trudge higher, pricing in a more and more aggressive Federal Reserve,” said Ross Mayfield, investment strategy analyst at Baird. “Until over the weekend, I hadn’t seen any speculation about two rate hikes at the March meeting, and now you’re starting to hear that chatter.”

The S&P 500 fell 85.74 points to 4,577.11, the Dow fell 543.34 points to 35,368.47, and the Nasdaq fell 386.86 points to 14,506.90. The indexes all hit a new low for the year. The Nasdaq has borne the brunt of the losses, shedding 7.3% this month. That puts the index within 2.7% of a correction, Wall Street-speak for when a stock or index falls 10% or more from its last peak. The S&P 500 is down almost 4% for the month after setting an all-time high on the first trading day of the year.

The latest wave of selling comes as Wall Street tries to predict how much the Fed will raise interest rates, and how fast. The central bank has hastened its plan to trim bond purchases and is considering raising interest rates earlier and more often than Wall Street had expected.

The Fed is under pressure to curtail inflation, which jumped last month at its fastest pace in nearly 40 years. At the same time, the job market has bounced back from last year’s brief but intense coronavirus recession, leaving the unemployment rate last month at a pandemic low 3.9%, giving the central bank more leeway to rein in the unprecedented support it’s been providing the economy since the pandemic struck.

While higher rates could help stem the high inflation sweeping the world, they would also mark an end to the conditions that have put financial markets in “easy mode” for many investors since early 2020.

Higher rates also make shares in high-flying tech companies and other expensive growth stocks less attractive. Big technology stocks, which have an outsized influence on the S&P 500 because of their high valuations, have weighed heavily on the market this year as investors shift money in anticipation of the higher rates.

The sector was the biggest drag on the S&P Tuesday. Apple fell 1.9% and chipmaker Nvidia slid 3.9%.

Banks also weighed heavily on the market after Goldman Sachs said its fourth-quarter profit fell by 13% from a year earlier, largely due to the hefty pay packages Goldman is paying staff. Goldman’s results echoed those of JPMorgan and Wells Fargo last week, which also flagged lower profits and higher expenses due to increased employee compensation costs.

Goldman shares slumped 7%, while JPMorgan slid 4.2%. Wells Fargo was down 2.4%.

Small company stocks, a gauge of confidence in economic growth, also lost ground. The Russell 2000 index fell 66.23 points, or 3.1%, to 2,096.23.

Energy futures rose broadly amid supply fears following an attack on an oil facility in the capital of the United Arab Emirates. The price of U.S. crude oil rose 1.9% to $85.43 a barrel, a 7-year high. The rally in oil prices gave some energy stocks a boost. Exxon Mobil rose 1.7%.

Investors returning after U.S. markets were closed Monday for the Martin Luther King Jr. Day holiday also reviewed the latest batch of corporate earnings and deal news Tuesday.

Activision Blizzard surged 25.9% on news of a blockbuster deal. Microsoft, which fell 2.4%, is buying the maker of games like “Call of Duty” and ”Candy Crush” for $68.7 billion.

Investors have a busy week of earnings reports ahead. A key focus will be on how companies in different industries are handling persistent supply chain issues. Many companies have already warned about the impact on their finances and operations, despite raising prices on consumer goods to offset the impact.

Bank of America, UnitedHealth and United Airlines report results on Wednesday. American Airlines, Union Pacific and Netflix report their results on Thursday.

ASX 200 expected to sink​The Australian share market looks set to sink notably lower on Wednesday after Wall Street returned from the Martin Luther King Jr holiday in terrible form. According to the latest SPI futures, the ASX 200 is expected to open the day 74 points or 1% lower this morning. 

Technology companies led a broad sell-off on Wall Street Tuesday as bond yields surged amid renewed jitters that the Federal Reserve will act more aggressively than expected to tackle rising inflation.

The S&P 500 fell 1.84%, with about 90% of the stocks in the benchmark index closing in the red. The Nasdaq, which is heavily weighted with technology stocks, slid 2.6%. The Dow Jones Industrial Average fell 1.51%. The Nasdaq drop does not bode well for tech shares on Wednesday!


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## KevinBB

bigdog said:


> That puts the index within 2.7% of a correction, Wall Street-speak for when a stock or index falls 10% or more from its last peak.



I reckon that the NASDAQ index is already in correction.






KH


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## sptrawler

Is this the start of the correction, or just another speed bump?


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## KevinBB

sptrawler said:


> Is this the start of the correction, or just another speed bump?



Don't know. I don't predict, just act on what is happening.
KH


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## CityIndex

sptrawler said:


> Is this the start of the correction, or just another speed bump?




It’s tough to say whether the market will bounce from here, or if it needs to complete a larger correction before it can rally. Direction over the coming weeks will likely depend on how the yield curve shifts based on trader’s expectations in the lead-up to the next Fed meeting.

This round of earnings reports could also have a strong influence on the market. Investors will most probably need to see continued growth from last quarter, as well as strong guidance for 2022, in order to put more money into equities.

All trading carries risk, and it rarely pays to try and predict the market, especially with so many factors in play, so it’s important to keep a close eye on how things develop before making any decisions.


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## sptrawler

CityIndex said:


> It’s tough to say whether the market will bounce from here, or if it needs to complete a larger correction before it can rally. Direction over the coming weeks will likely depend on how the yield curve shifts based on trader’s expectations in the lead-up to the next Fed meeting.
> 
> This round of earnings reports could also have a strong influence on the market. Investors will most probably need to see continued growth from last quarter, as well as strong guidance for 2022, in order to put more money into equities.
> 
> All trading carries risk, and it rarely pays to try and predict the market, especially with so many factors in play, so it’s important to keep a close eye on how things develop before making any decisions.



Yes I think there is a certain amount of euphoria at the moment, where everybody thinks nothing can burst this bubble, from my experience that is around the time it actually does burst.
Will interest rate rises be the trigger, or is that already factored in to the market? Time will tell.


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## bigdog

https://apnews.com/article/coronavi...a-motor-corp-5bcaa3ef6658c5ded7aa20dd775d7283

*Stocks extend 2022 losses as investors brace for rate hikes*

By DAMIAN J. TROISE

Stocks closed broadly lower on Wall Street Wednesday and deepened the weekly losses for major indexes following another choppy day of trading.

The major indexes bounced between gains and losses throughout the day, with technology stocks again giving direction to the broader market. The sector has triggered much of the choppiness in the market as investors shift money in expectation of rising interest rates. Higher rates make shares in high-flying tech companies and other expensive growth stocks relatively less attractive.

“We’ve seen some givebacks from the returns we got last year,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors. “What we’re seeing is that the market is resetting now.”

The S&P 500 fell 44.35 points, or 1%, to 4,532.76, with 77% of stocks in the benchmark index losing ground. The only sectors that closed with gains were utilities and household goods makers, signaling a shift to less risky investments for traders.

The Dow Jones Industrial Average fell 339.82, or 1.2%, to 35,028.65.

The tech-heavy Nasdaq fell 166.64, or 1.1%, to 14,340.26. The index is now more than 10% below the all-time high it set on Nov. 19, a fall which is commonly considered a correction.

Technology giant Apple shed 2.1% and chipmaker Nvidia fell 3.2%.

Every major index set new lows for the year for the second day in a row.

Small company stocks, a gauge of confidence in economic growth, fell more than the rest of the market. The Russell 2000 index fell 33.44 points, or 1.6%, to 2,062.78.

Gold prices, which often rise when investors are nervous about risks in the broader market, gained 1.6%.

Bond yields fell. The yield on the 10-year Treasury fell to 1.85% from 1.87% late Tuesday.

Stocks have slid in January as investors gauge how rising inflation will impact businesses and consumers, along with the Federal Reserve’s next move on interest rate policy.

Investors are busy reviewing the latest round of corporate earnings. Health insurer UnitedHealth Group rose 0.3% after reporting encouraging financial results. Bank of America rose 0.4% after reporting a jump in profits that beat analysts’ forecasts.

Household and consumer goods company Procter & Gamble rose 3.4% after also reporting strong financial results. The maker of Dawn dish detergent and other products reported strong results as it passed along higher costs to consumers.

Outside of earnings, Ford slumped 7.9% following news that it’s recalling about 200,000 cars in the U.S. to fix a problem that can stop the brake lights from turning off.

Wall Street is closely watching the latest round of results to gauge whether inflation is cutting into profit margins for companies and to see whether consumers are accepting the higher prices without cutting back on spending. Demand for goods has outpaced companies’ capacity to make and supply products, which has caused supply chain problems and raised raw materials costs.

Economists expect inflation to remain high until those supply chain issues are solved and consumer demand is tempered. Meanwhile, the Federal Reserve is speeding up its withdrawal of support for markets and the economy. The central bank is likely to raise interest rates earlier and more often than had been expected to fight rising inflation.

As of late Tuesday, investors were pricing in a better than 86% probability that the Fed will raise short-term rates at its meeting of policymakers in March. A month ago, they saw less than a 47% chance of that, according to CME Group.

More big company earnings are on tap for Wall Street on Thursday. American Airlines, Union Pacific, CSX and Netflix will all report their latest financial results.

ASX 200 expected to rise​The Australian share market looks set to edge higher on Thursday despite declines on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 20 points or 0.3% higher this morning.

Stocks closed broadly lower on Wall Street Wednesday and deepened the weekly losses for major indexes following another choppy day of trading. The major indexes bounced between gains and losses throughout the day, with technology stocks again giving direction to the broader market.

On Wall Street closing, the Dow Jones was down 0.96%, the S&P 500 down 0.97%, and the Nasdaq had fallen 1.15%.


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## bigdog

https://apnews.com/article/joe-bide...hanghai-asia-4a90ec3e4fb03856f43c2eac7ebb9143

*Stock losses mount as investors eye earnings, inflation*

By DAMIAN J. TROISE

A late-afternoon sell-off wiped out gains for stocks on Wall Street Thursday and sent major indexes deeper into losing territory for the year.

The sharp about-face for the broader market was once again directed by technology stocks, which have been behind choppy trading throughout the week. As investors prepare for higher interest rates, shares in pricey tech companies and other expensive growth stocks look relatively less attractive.

The S&P 500 fell 50.03 points, or 1.1%, to 4,482.73, with nearly 85% of stocks in the index falling. The benchmark index closed at a three-month low after having been up as much as 1.5% earlier in the day.

The Dow Jones Industrial Average fell 313.26 points, or 0.9% to 34,715.39.

The Nasdaq fell 186.23 points, or 1.3%, to 14,154.02. The index’s losses in recent months had by Wednesday left it in what Wall Street considers a market correction, or 10% below its peak.

Apple fell 1% and chipmaker Nvidia shed 3.7%.

A mix of retailers and communications stocks also fell. Investors reversed course from earlier in trading and shifted money back toward safe-play investments. Utilities, which are considered less-risky, were the only sector within the S&P 500 that eked out gains.

Bond yields fell. The yield on the 10-year Treasury fell to 1.81% from 1.82%.

Stocks are headed for weekly losses in what has so far been a losing month for every major index.

“The backdrop of higher rates and slowing growth is a serious concern, but so are the number of stocks, especially in the Nasdaq, making new 52-week lows,” said Sean Bandazian, senior investment analyst at Cornerstone Wealth. “There are a lot of broken trends out there that could make finding a bottom in the near term a problem.”

The downturn follows a strong 2021 where the S&P 500 gained 26.9%. Investors may be resetting their expectations moving ahead, said Mark Hackett, chief of investment research at Nationwide.

“Investors are starting to get more realistic about the way the world is going to look going forward,” he said.

The Labor Department gave Wall Street a disappointing update on the labor market with its weekly unemployment report. The number of Americans applying for unemployment benefits rose to the highest level in three months as the fast-spreading omicron variant continued to disrupt the job market.

The job market has had a rocky recovery from the virus pandemic. The unemployment rate fell last month to a pandemic low 3.9%.

Employment data was also closely watched by investors trying to gauge how it would effect the Federal Reserve’s decision to ease up on support for the markets and economy. The central bank made it clear early in the pandemic that it was basing much of its support on how quickly employment recovers.

The Fed is now expected to raise interest rates earlier and more often in order to fight rising inflation that threatens to derail a further economic recovery. Supply chain problems and higher raw materials costs have prompted businesses to raise prices on finished goods and economists are concerned that consumers will eventually grow tired of paying higher prices and cut their spending.

Companies are reminding investors that supply chain problems are still weighing on operations. Recent inflation reports have been worrisome, while economic data on retail sales has also disappointed.

“These are all the things that are justifying some of the sloppiness we’re starting the year with,” Hackett said.

The latest round of corporate earnings is also giving investors a clearer picture of where Americans are spending money and how inflation is impacting the economy.

American Airlines fell 3.2% and United Airlines slipped 3.4% after warning investors that the latest surge in COVID-19 cases will hurt their finances early in 2022. Both airlines reported losses for the fourth quarter, though they were smaller than analysts’ expected.

Aluminum products maker Alcoa jumped 2.7% after reporting strong fourth-quarter financial results as prices for commodities rose. Insurer Travelers rose 3.2% after handily beating analysts’ financial forecasts.

Peloton shares lost about a quarter of their value after CNBC reported the company is temporarily halting production of its treadmills and exercise bikes. The business news network said it reviewed internal Peloton documents that indicated demand for the company’s connected fitness equipment had fallen sharply because of pricing and competition. Peloton shares soared as people exercised at home in the first year of the pandemic, but have fallen 85% since closing at an all-time high of $167.42 on Jan. 13, 2021. On Thursday, its shares lost 23.9% to $24.22.


ASX 200 expected to fall​The Australian share market looks set to end the week in a disappointing fashion. According to the latest SPI futures, the ASX 200 is expected to open the day 20 points or 0.3% lower this morning. 

A late-afternoon sell-off wiped out gains for stocks on Wall Street Thursday and sent major indexes deeper into losing territory for the year.

The sharp about-face for the broader market was once again directed by technology stocks, which have been behind choppy trading throughout the week. As investors prepare for higher interest rates, shares in pricey tech companies and other expensive growth stocks look relatively less attractive.

The S&P 500 fell 50.03 points, or 1.1%, to 4,482.73, with nearly 85% of stocks in the index falling. The benchmark index closed at a three-month low after having been up as much as 1.5% earlier in the day.


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## sptrawler

sptrawler said:


> Is this the start of the correction, or just another speed bump?



That was two days ago and it is starting to smell like a correction IMO


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## bigdog

*ALMOST A SEA OF READ*

https://apnews.com/article/coronavi...cial-markets-45eee007ef7ab4384407c78d82287b4a

*Stocks extend losses for third week; Netflix plunges*

By DAMIAN J. TROISE

Stocks capped another day of losses on Wall Street Friday with the worst weekly drop for the S&P 500 since the start of the pandemic.

Stocks have been falling amid concerns about rising inflation and the Federal Reserve’s plan to raise interest rates from historic lows to try and curtail inflation. Low rates helped support the broader market as the economy absorbed a sharp hit from the pandemic in 2020 and then recovered over the last two years.

The S&P 500 fell 84.79 points, or 1.9%, to 4,397.94. The benchmark index has now slipped three weeks straight and the latest weekly loss is its worst since March of 2020.

The Dow Jones Industrial Average fell 450.02 points, or 1.3%, to 34,265.37 and also fell for its third straight week.

The tech-heavy Nasdaq fell 385.10, or 2.7%, to 13,768.92 and has been hit particularly hard by expectations for higher interest rates. As investors prepare for higher interest rates, shares in pricey tech companies and other expensive growth stocks look relatively less attractive. The index has fallen for four straight weeks and losses in recent months had by Wednesday left it in what Wall Street considers a market correction, or 10% below its peak.

The Nasdaq is now down 14.3% from its record high set on Nov. 19.

Technology stocks have been directing, and often abruptly redirecting, momentum in the market throughout the week.

“The market is working through digestion of how much monetary policy change will occur over the course of 2022,” said Bill Northey, senior investment director at U.S. Bank Wealth Management.

Technology and communications stocks were among the biggest drags on the market.

Streaming video service Netflix plunged 21.8% after it delivered another quarter of disappointing subscriber growth. Disney, which has also been trying to grow its subscriber base for its streaming service, fell 6.9%.

A mix of retailers, travel-related companies and other companies that rely on direct consumer spending also fell.

Bond yields fell significantly. The yield on the 10-year Treasury fell to 1.76% from 1.83% late Thursday. The drop weighed on bank stocks, which rely on higher yields to charge more lucrative interest on loans.

Household good makers and utilities, which are typically considered less-risky investments, held up better than the rest of the market.

Inflation fears and concerns about the impact of higher interest rates have prompted a cautious shift in the broader market after a solid year of gains in 2021.

Supply chain problems and higher raw materials costs have prompted companies in a wide range of industries to raise prices on finished goods. Many of those companies have warned investors that their profit margins and operations continue feeling the pinch in 2022.

Rising costs have raised concerns that consumers will start to ease spending because of the persistent pressure on their wallets. The latest retail sales data for December was surprisingly disappointing and revealed a decline in sales.

The Fed is now expected to raise interest rates earlier and more often than it had previously signaled in order to fight rising inflation that threatens to derail a further economic recovery. The central bank could begin raising rates as early as March. Investors will be watching the Fed closely when officials meet for their latest policy meeting next week.

Investors have also been busy reviewing the latest round of corporate earnings, which could give them a better sense of how companies are dealing with persistent supply chain problems and higher costs.

Paint and coatings maker PPG Industries fell 3.1% after warning investors that it continues grappling with high raw materials costs and supply chain problems. Surgical device maker Intuitive Surgical fell 7.9% after warning that the focus on COVID-19 cases continues to hurt procedure volumes.

Peloton rose 11.7% after the maker of exercise bikes and treadmills said fiscal second-quarter revenue would meet previous estimates. The stock tanked a day earlier after CNBC reported Peloton was temporarily halting production of exercise equipment to stem a decline in sales.


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## noirua

January 21 2022


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## noirua

January 21 2022


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## bigdog

ASX 200 expected to fall again​The Australian share market looks set to start the week with another decline. According to the latest SPI futures, the ASX 200 is expected to open the day 49 points or 0.7% lower this morning. 

This follows a poor end to the week on Wall Street, which saw the Dow Jones fall 1.3%, the S&P 500 drop 1.9%, and the Nasdaq tumble 2.7%.

Stocks capped another day of losses on Wall Street Friday with the worst weekly drop for the S&P 500 since the start of the pandemic.

Stocks have been falling amid concerns about rising inflation and the Federal Reserve’s plan to raise interest rates from historic lows to try and curtail inflation. Low rates helped support the broader market as the economy absorbed a sharp hit from the pandemic in 2020 and then recovered over the last two years.

The S&P 500 fell 84.79 points, or 1.9%, to 4,397.94. The benchmark index has now slipped three weeks straight and the latest weekly loss is its worst since March of 2020.

The Dow Jones Industrial Average fell 450.02 points, or 1.3%, to 34,265.37 and also fell for its third straight week.


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## bigdog

*ASX Holiday Australia Day  **Wednesday 26 January **CLOSED*

https://apnews.com/article/stock-market-drop-d1511bdafe7279b263a352a8ab249bc0

*Stocks climb back after steep slide on Fed, Ukraine jitters*

By DAMIAN J. TROISE and ALEX VEIGA

A volatile day on Wall Street ended Monday with stocks notching modest gains after climbing back from a steep slide that had knocked more than 1,200 points off the Dow Jones Industrial Average.

The late-afternoon comeback pulled the S&P 500 out of so-called correction territory — a drop of 10% or more from its recent high.

The market’s gyration reflected investors’ uncertainty over how aggressive the Federal Reserve’s inflation-fighting measures will be and the possibility of conflict between Russia and Ukraine.

“We’re in this wait-and-see mode, which is almost the most uncomfortable place to be, so I think the market is really grappling with that,” said Lindsey Bell, chief markets and money strategist at Ally Invest.

The S&P 500 ended 0.3% higher after having been down about 4%. The index has come back from a loss that big to notch a gain only three other times in the past. The tech-heavy Nasdaq index rose 0.6% after recovering from a nearly 5% descent.

Early in the day, benchmark stock indexes flirted with near 4-month lows as investors anticipated guidance from the Fed later this week about its plans to raise interest rates to tame inflation, which is at its highest level in nearly four decades.

The Fed’s short-term rate has been pegged near zero since the pandemic hit the global economy in 2020 and that has fueled borrowing and spending by consumers and businesses.

But rising prices at supermarkets, car lots and gas stations are raising concerns that consumers will pare back spending to limit the pressure on their budgets. Companies have warned that supply-chain problems and higher raw materials costs could crimp their profits.

The Fed has kept downward pressure on longer-term interest rates by buying trillions of dollars worth of government and corporate bonds, but those emergency purchases are scheduled to end in March. Nudging rates higher is intended to help slow economic growth and the rate of inflation.

Investors are also keeping an eye on developments in Ukraine. Tensions soared Monday between Russia and the West over concerns that Moscow is planning to invade Ukraine, with NATO outlining potential troop and ship deployments.

The S&P 500 rose 12.19 points to 4,410.13. It’s now 8.1% below the all-time high it set on Jan. 3.

The Dow rose 99.13 points to 34,364.50. The Nasdaq gained 86.21 points to 13,855.13.

Small company stocks also bounced back. The Russell 2000 rose 45.59 points, or 2.3%, to 2,033.51. The index had been down 2.8%.

ASX 200 expected to sink again​The Australian share market looks set to continue its decline on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 173 points or 2.45% lower this morning. 

The late-afternoon comeback pulled the S&P 500 out of so-called correction territory — a drop of 10% or more from its recent high.
The market’s gyration reflected investors’ uncertainty over how aggressive the Federal Reserve’s inflation-fighting measures will be and the possibility of conflict between Russia and Ukraine.

On closing sees the Dow Jones was up 0.29%, the S&P 500 up 0.28%, and the Nasdaq up 0.63%.


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## bigdog

*ASX Holiday Australia Day  **Wednesday 26 January **CLOSED*

https://apnews.com/article/stock-financial-market-today-2d5036cff99bc06c6f7adc62369a0003

*Stocks end lower on Wall Street after another volatile day*

By DAMIAN J. TROISE and ALEX VEIGA

Another volatile bout of trading on Wall Street ended with a broad pullback for stocks Tuesday, as investors grapple with economic red flags and uncertainty over how aggressive the Federal Reserve will be in fighting rising inflation.

Stock indexes fell sharply to start the day, then came well off their lows by late afternoon. Another burst of selling in the final hour of trading pulled them lower again. Technology stocks were the biggest drag on the market.

The S&P 500 fell 1.2% after having been down as much as 2.8%. The benchmark index has been falling steadily all month and is now down 9.2% from the all-time high it set Jan. 3. The Dow Jones Industrial Average slipped 0.2% and the tech-heavy Nasdaq gave up 2.3%.

Higher inflation has been squeezing businesses and consumers, and the Federal Reserve is expected to combat it in 2022 by raising interest rates. Investors fear that the Fed could either be moving too late or could be too aggressive. The central bank issues its latest policy statement Wednesday.

The virus pandemic still hovers over the economy and threatens to crimp progress with every new wave. The International Monetary Fund cited the omicron variant as the reason it has downgraded its forecast for global economic growth this year.

And a potential conflict between Russia and Ukraine threatens to push energy prices even higher while forcing more countries to focus on fighting a war instead of inflation and COVID-19.

Wall Street is dealing with signs of slowing economic growth because of COVID-19 and a Fed that can’t really go back on what it said it would do, said Barry Bannister, chief equity strategist at Stifel.

“The market has come to terms with that and that’s a big deal,” he said. “Fiscal and monetary tightening, together, is tough on financial assets when they’re coming off of a rip-roaring party from stimulus.”

Still, the fact that the major stock indexes came off their lows of the day could be a sign that some investors are betting that a dimmer outlook for economic growth may prompt the Fed to take a more measured approach to raising interest rates.

“Weaker economic growth projections have contributed to investors breathing a sigh of relief that the Fed won’t have to be overly aggressive,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 fell 53.68 points to 4,356.45. This week, the index has come within striking distance of entering a “correction,” which among markets watchers means a drop of 10% from a peak.

The Dow fell 66.77 points to 34,297.73. The blue-chip index had been down 818 points in morning trading.

The Nasdaq fell 315.83 points to 13,539.29. The index had initially slumped 3.2%. It entered a correction last week and is now down more than 15% from its high set on Nov. 19.

Small company stocks also lost ground. The Russell 2000 index fell 29.48 points, or 1.5%, to 2,004.03.

Major indexes had a similar start to trading on Monday and were down most of the day before a late buying spree pushed them to a higher close. That rebound may have been just a “head fake,” Bannister said, adding that more declines are likely in store for the market.

Even though the S&P 500 managed to eke out a gain after its roller-coaster ride on Monday, a measure of nervousness on Wall Street known as the VIX index remained high. That suggests stress is continuing to grow in the system, with markets in a “high speed spin cycle,” strategists at UBS wrote in a report.

Futures contracts related to the VIX, meanwhile, indicate investors are preparing for a high level of volatility in the near term but less in ensuing months. That’s a flip from their typical behavior last year.

Technology stocks again led the losses as investors worry about rising interest rates. Higher interest rates tend to make shares in high-flying tech companies and other expensive growth stocks less attractive. Microsoft fell 2.7%.

Retailers and communications companies also fell. Home Depot fell 1.3% and Netflix fell 5.4%. U.S. crude oil prices rose 2.7% and helped send energy stocks higher. Occidental Petroleum jumped 8.1%.

American Express surged 8.9% for the biggest gain in the S&P 500 after the credit card company reported that its fourth-quarter earnings rose 20% from a year earlier.

Bond yields rose. The yield on the 10-year Treasury rose to 1.78% from 1.74% late Monday.


----------



## divs4ever

Investing.com Australia - Financial News, Stock Quotes & Charts
					

Investing.com Australia serves traders of a wide range of asset classes with real-time charts & quotes along with news and analysis.




					au.investing.com
				




 using Investing.com ( the Australian version) i notice the SPI  futures  are moving around a bit ( currently up 51 points  but has been negative at times since midnight )

 since Australia doesn't seem to have a PPT ( from memory we rely on circuit-breakers  to slow the slide in extreme drops )

 i would suggest extra care ( especially when using US futures as an indicator )


----------



## bigdog

*ASX Holiday Australia Day  was yesterday*

https://apnews.com/article/russia-u...ng-kong-asia-043a4f2195d0892fb8e5edded6e4ed86

*Stocks fall, yields rise after Fed signals rate hike ‘soon’*

By DAMIAN J. TROISE and ALEX VEIGA

An early market rally on Wall Street gave way to a broad slide for stocks and a surge in bond yields Wednesday after the Federal Reserve signaled it plans to begin raising interest rates “soon” to fight a spike in inflation that the central bank says is probably getting worse.

The S&P 500 fell 0.1% after having been up 2.2% earlier in the day. The Dow Jones Industrial Average fell 0.4% after swinging more than 900 points from its high for the day. The Nasdaq ended little changed, shedding most of a 3.4% gain.

Bond yields rose, including the yield on the 10-year Treasury note, which climbed to 1.87% from 1.78% late Tuesday. Yields affect rates on mortgages and other consumer loans.

In a statement issued after its latest policy meeting, the Fed said it “expects it will soon be appropriate” to raise rates. Such a move is expected to happen as soon as March, as half the Fed’s policymakers have expressed a willingness to raise rates by then. The Fed also said it would phase out its monthly bond purchases, which have been intended to lower longer-term rates, in March.

The major stock indexes initially rose after the 2 p.m. Eastern release of the Fed statement, but shed most of their gains as Fed Chair Jerome Powell took repeated questions about how and when the central bank will start letting its balance sheet shrink after buying trillions of dollars of bonds through the pandemic.

The selling accelerated as Powell acknowledged that the high inflation slamming the economy isn’t getting better, which could force the Fed to get even more aggressive about raising interest rates and removing the support it put in pace for markets.

“Since the December meeting, I’d say the inflation situation is about the same but probably slightly worse,” he said. “It hasn’t gotten better. It’s probably gotten just a bit worse, and that’s been the pattern.”

Powell also said that there’s room to raise interest rates without hurting the labor market, and wouldn’t rule out the possibility that it could raise short-term interest rates at any one of its meetings this year or raise by a larger-than-usual amount at any one.

Those comments sent a signal to Wall Street that the Fed may be more hawkish when it comes to tackling inflation, said Willie Delwiche, investment strategist at All Star Charts.

“In the market’s mind, that’s more rate hikes, and while he was clear to say that the economy is strong enough to handle those rate hikes, from a strictly (stock) market perspective, higher rates weigh on expensive stocks,” Delwiche said.

The S&P slipped 6.52 points to 4,349.93. The Dow fell 129.64 points to 34,168.09. The Nasdaq rose 2.82 points to 13,542.12. The indexes are all on pace for weekly losses.

The market had been solidly higher prior to the release of the Fed statement following several days of volatile swings as investors try to gauge whether the Fed will succeed in its new effort to fight inflation. The central bank had been widely expected to continue drawing back its stimulus measures ahead of raising interest rates in the coming months.

Pressure from inflation on businesses and consumers is what is driving the Fed to raise interest rates this year. There was some concern on Wall Street that Powell could suggest that the central bank will raise interest rates this year more than the four times that most economists currently expect.

For nearly two years, investors had poured money into stocks, confident that the Federal Reserve would help keep share prices upright. With that support going away, markets have been hit with a bout of volatility. The S&P 500 is down 8.7% so far this year.


ASX 200 expected to rise​The Australian share market looks set to rebound on Thursday following a volatile night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 17 points or 0.25% higher this morning. 

An early market rally on Wall Street gave way to a broad slide for stocks and a surge in bond yields Wednesday after the Federal Reserve signaled it plans to begin raising interest rates “soon” to fight a spike in inflation that the central bank says is probably getting worse.

The S&P 500 fell 0.1% after having been up 2.2% earlier in the day. The Dow Jones Industrial Average fell 0.4% after swinging more than 900 points from its high for the day. The Nasdaq ended little changed, shedding most of a 3.4% gain.

After storming higher for much of the day, the Dow Jones fell 0.38%, the S&P 500 is dropped 0.15%, and the Nasdaq ended up flat.


----------



## bigdog

https://apnews.com/article/business...yo-hong-kong-7248888c2aaca46544006833ae95a086

*Stock give up a rally and end lower as volatility continues*

By DAMIAN J. TROISE and ALEX VEIGA

Another volatile day of trading on Wall Street ended Thursday with stocks closing lower after giving up an early rally. The late-afternoon fade extended the market’s losing streak as it closes in on its fourth weekly loss.

Markets are still processing the latest indications from the Federal Reserve a day earlier that the central bank is increasingly concerned about inflation and plans to raise interest rates and take other steps soon to fight it. Investors were encouraged to see strong figures for U.S. economic growth, which showed the biggest climb in GDP last year since 1984.

The S&P 500 fell 0.5%. The benchmark index had been up as much as 1.8% in the early going. The Dow Jones Industrial Average slipped less than 0.1% and the Nasdaq gave up 1.4%. Smaller company stocks fell more than the broader market, sending the Russell 2000 index 2.3% lower.

Stocks have been on a roller-coaster ride throughout the week as investors try to adjust to the idea of rising interest rates after the Fed’s policy of near-zero rates helped boost stock prices for nearly two years.

“I’d kind of characterize this as healthy whiplash,” said Jason Pride, chief investment officer of private wealth at Glenmede. “The market’s seeing the change in terrain and it’s adjusting appropriately; the terrain is going to have higher interest rates.”

The S&P 500 fell 23.42 points to 4,326.51, its third straight decline. The index has notched a gain only five days so far in January. It’s within 10 points of entering a “correction,” meaning a drop of 10% from the all-time high it set Jan. 3.

The Dow fell 7.31 points to 34,160.78. The Nasdaq dropped 189.34 points to 13,352.78. The Russell 2000 fell 45.18 points to 1,931.29.

Companies that rely on consumer spending and banks were among the biggest weights on the S&P 500. Royal Caribbean fell 6.3% and JPMorgan Chase slid 1.8%.

Technology stocks also lost ground. The sector has been a key driver for the broader market’s swings as investors shift money in anticipation of higher interest rates. Pricey tech companies and other growth stocks are viewed as less attractive when interest rates rise. Nvidia fell 3.6%.

Energy and communication stocks made solid gains Thursday. Chevron rose 2% and Netflix jumped 7.5%.

Bond yields fell. The yield on the 10-year Treasury fell to 1.80% from 1.84% late Wednesday.

The U.S. economy expanded 5.7% in 2021, the strongest calendar-year growth since a 7.2% surge in 1984 after a previous recession. It ended the year by growing at an unexpectedly brisk 6.9% annual pace from October through December as businesses replenished their inventories, the Commerce Department reported.

The upbeat report came a day after the Federal Reserve raised some concerns about how quickly it will ease support for markets and the economy. It said it “expects it will soon be appropriate” to raise interest rates, and investors expect the first in a series of rate hikes to happen in March. The Fed also said it would phase out its monthly bond purchases, which have been intended to lower longer-term rates, in March.

The Fed has been monitoring the impact of inflation on businesses and consumers and Fed Chair Jerome Powell acknowledged that the pressure isn’t lessening. That could mean the central bank has to take an even more aggressive approach to raising interest rates and removing the support it put in place for markets.

Businesses from a wide range of industries have been warning investors for months that supply chain problems and higher raw materials costs have hurt operations. Higher prices being passed on to consumers could prompt a spending pullback and hurt economic growth.

Investors are closely watching the latest round of corporate earnings to gauge just how much companies are getting hurt by inflation and how they expect it to impact them moving forward.

The technology sector has been hit particularly hard by supply chain problems with a longstanding computer chip shortage. Semiconductor equipment maker Lam Research fell 6.9% after saying supply chain issues worsened in December. Chipmaker Intel fell 7% after giving investors a weak profit forecast.

The chip shortage continues to hurt the auto industry. Tesla fell 11.6% after telling investors that the shortage will stop the company from rolling out new models in 2022.

Solid earnings did help push shares for many other companies higher. ServiceNow rose 9.1% after the maker of software that automates companies’ technology operations reported strong financial results. Electronic storage maker Seagate Technology rose 7.7% and jeans maker Levi Strauss rose 8.4% after also reporting encouraging financial results.

Every major index is in the red for the year. The S&P 500 is down 9.2%. The downturn is having an impact on initial public offerings after a record 2021, said Matthew Kennedy, senior IPO market strategist at Renaissance Capital.

Three large companies have pulled their IPOs after setting a proposed price, he said, which compares with one postponement during January 2021. Several smaller deals have delayed their offerings.

“The current market volatility makes it nearly impossible to get deals done,” he said.

He also said the shift in Fed policy has spooked investors, particularly for growth stocks, where even a few rate increases can have an impact on the value of future cash flows. He added that the reset for the IPO market could turn out to be healthy in the long term and part of the natural market cycle.

ASX 200 expected to jump​The Australian share market looks set to end the week in a very positive fashion. According to the latest SPI futures, the ASX 200 is expected to open the day 106 points or 1.6% higher this morning. 

Another volatile day of trading on Wall Street ended Thursday with stocks closing lower after giving up an early rally. The late-afternoon fade extended the market’s losing streak as it closes in on its fourth weekly loss

The S&P 500 fell 23.42 points to 4,326.51, its third straight decline. The index has notched a gain only five days so far in January. It’s within 10 points of entering a “correction,” meaning a drop of 10% from the all-time high it set Jan. 3.

The Dow fell 7.31 points to 34,160.78. The Nasdaq dropped 189.34 points to 13,352.78. The Russell 2000 fell 45.18 points to 1,931.29.

It is worth noting, however, that the US market and the SPI futures have been swinging wildly and all this could change come opening time.


----------



## bigdog

https://apnews.com/article/business...tock-markets-ef6bf99b1ef0a2bcda48d9fd0d1bb676

*Stocks end a turbulent week with biggest gains of the year*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street ended a volatile week of trading Friday with a late-afternoon buying spree that gave the major stock indexes their biggest gains of the year and snapped a three-week losing streak.

The S&P 500 rose 2.4%, with nearly all of it coming in the last hour of trading. The Dow Jones Industrial Average added 1.7% and the Nasdaq jumped 3.1%.

The strong finish marked a reversal for the indexes, which had all been in the red earlier in the day. The Nasdaq managed the biggest about-face, recovering from a 0.9% deficit. Friday was only the latest in a string of sudden moves up and down this week.

Markets have been jittery as investors try to gauge how aggressively the Federal Reserve will move to ease its historic support for markets and the economy. There is likely going to be more volatility ahead as investors closely watch the impact of interest rate increases on the broader economy and the financial markets.

“I don’t think we’re out of the woods yet in terms of this kind of frenzied market behavior,” said Liz Ann Sonders, chief investment strategist at Charles Schwab.

The S&P 500 rose 105.34 points to 4,431.85. The index’s biggest gain since June 2020 comes late in a week where investors had been monitoring the S&P 500 for what market watchers call a “correction.” That’s when an index sheds more than 10% of its value from a record high. The index is now 7.6% below the latest record reached on Jan. 3.

The Dow gained 564.69 points to 34,725.47, and the Nasdaq rose 417.79 points to 13,770.57. The tech-heavy index got a boost as technology stocks rallied, led by Apple. The iPhone maker jumped 7% after reporting strong financial results. Microsoft rose 2.8%.

Bond yields edged lower. The yield on the 10-year Treasury fell to 1.78% from 1.81% late Thursday.

Investors expect the Fed to start raising interest rates in March and now anticipate five or more hikes of a quarter point each as the most likely path for the central bank this year. The sentiment follows the latest Fed statement and comments from Chair Jerome Powell that inflation is “slightly worse” than it was in December. The Fed also plans to phase out its bond purchases in March and is likely to start reducing the size of its balance sheet at some point, a move that has a similar effect as an increase in rates.

Powell has acknowledged that the high inflation that is squeezing businesses and consumers isn’t loosening its grip and that could force the Fed to act more aggressively about raising interest rates.

Anxiety over rising inflation and how the Fed’s response will affect stock prices has kept investors on edge.

“That’s really where we’ve seen these volatility swings pick up over the course of the last couple of weeks,” said Bill Northey, senior investment director at U.S. Bank Wealth Management. “The market is attempting to diagnose and digest the amount of (Fed) policy adjustment that will be necessary based on an unknown set of factors.”

The latest round of corporate earnings has shown that companies are still feeling the pinch of supply chain problems, raw material costs and other pressures from inflation.

Oreo cookie maker Mondelez fell 1.6% after issuing its latest warning about inflation hurting operations in North America. Computer hard drive maker Western Digital fell 7.3% after giving similarly disappointing updates on pressure from inflation.

Additional government reports are also showing that consumers are facing higher prices and they might be discouraging spending. A measure of prices that is closely tracked by the Fed rose 5.8% last year, the sharpest increase since 1982. The report from the Commerce Department also said that consumer spending fell 0.6% in December, with purchases of cars, electronics, and clothes declining.

Inflation concerns and worries about the impact of rising interest rates converged this week with worries about a potential conflict between Ukraine and Russia that could raise energy prices. A conflict could also distract nations from focusing on the lingering virus pandemic, which continues to threaten economic growth with each wave spiking COVID-19 cases.


----------



## bigdog

ASX 200 expected to fall​The Australian share market looks set to start the week in the red despite big gains on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 16 points or 0.2% lower this morning. 

Wall Street ended a volatile week of trading Friday with a late-afternoon buying spree that gave the major stock indexes their biggest gains of the year and snapped a three-week losing streak.

On Wall Street, the Dow Jones rose 1.65%, the S&P 500 stormed 2.4% higher, and the Nasdaq raced 3.1% higher.


----------



## bigdog

https://apnews.com/article/business-china-asia-sydney-tokyo-29e37ca6be90a406fc1923355ad52a08

*Stocks end higher, still log worst month since March 2020*

By STAN CHOE and ALEX VEIGA

Stocks notched broad gains Monday, but still posted their worst monthly loss since the early days of the pandemic, as Wall Street closes a tumultuous January wracked by worries that imminent interest-rate hikes will make everything in markets more challenging.

The S&P 500 came back from an early 0.4% dip to close 1.9% higher. Even so, it’s now 5.9% below the all-time high it set four weeks ago. It fell 5.3% in January, its worst month since falling 12.5% in March 2020, when it hit bottom after the pandemic suddenly shut down the global economy.

The Dow Jones Industrial Average rose 1.2% and the Nasdaq composite climbed 3.4%, its biggest single-day gain since early November 2020. Both also ended in the red for January, with the Dow shedding 3.3% and the Nasdaq losing 9%.

Wall Street shook this month as investors try to get ahead of a massive shift in markets, where the Federal Reserve is about to start withdrawing the tremendous stimulus it’s pumped into the economy and markets. The wide expectation is for the Fed to begin raising interest rates in March, among other moves to make borrowing money less easy.

But uncertainty about how sharply and how quickly the Fed will move has helped cause severe swings on Wall Street, not just day-to-day but also hour-to-hour. Morning drops for stocks have quickly given way to sharp losses in the afternoon, and vice versa. On Friday, a sudden upturn in the last hour of trading managed to keep the S&P 500 from logging its fourth weekly loss in a row.

“There’s systematic buying that goes on at the end of a really bad month like January, and that’s certainly taken place over the last day or two,” said Scott Lander, chief investment officer at Horizon Investments.

The S&P 500 rose 83.70 points to 4,515.55. The Dow gained 406.39 points to 35,131.86, after erasing an earlier loss of 229 points. The Nasdaq rose 469.31 points to 14,239.88.

The month’s heaviest losses have concentrated on parts of the stock market seen as the most expensive. Much of the focus has been on high-growth technology stocks, which were absolute stars of the pandemic amid expectations they can grow regardless of the economy.

Tech stocks in the S&P 500 rose 2.7% Monday. The sector ended the month down 6.9%. The monthly drop was far deeper for tech stocks like chipmaker Nvidia, which jumped 7.2% Monday, but posted a 16.7% skid for January.

Any time the Fed raises rates, the stock market has historically had at least some difficulty adjusting. When bonds pay more in interest, investors feel less need to reach for stocks and other riskier investments in search of returns. This time, the Fed is also turning off what’s colloquially known as the “money printer” it’s been using to buy bonds to keep longer-term rates low, and it will likely soon remove some of those extra dollars sloshing around the economy.

The market may have an even tougher time than usual with this rate-hike campaign, because the Fed is going to be moving when growth for the economy and corporate earnings may be set to slow, say strategists at Morgan Stanley.

They pointed to what they see as worrying signs in data about U.S. manufacturing, among other factors.

“We remain sellers of rallies and of the view that S&P 500 fair value remains closer to 4,000 tactically,” the strategists led by Michael Wilson wrote in a report. The S&P 500 closed Friday at 4,431.85.

Others on Wall Street aren’t as pessimistic, though. That’s in large part due to broad expectations that corporate profits will continue to grow. For the full year of 2022, analysts are forecasting S&P 500 earnings will rise 9.5%, according to FactSet.

Stock prices have tended to track corporate profits over the long term. And if profits can continue to rise steadily, that could make up for one of the traditional effects of higher interest rates brought by the Fed: stock investors paying less for each $1 of corporate earnings.

“By now it should be clear that the strong pivot in monetary policy will make this year very different from last year,” Solita Marcelli, UBS Global Wealth Management’s chief investment officer, Americas, wrote in a recent note. “Still, we think investors should not lose sight of the fact that the economy remains strong, which should limit downside from current levels.”

The yield on the 10-year Treasury rose to 1.78% from 1.77% Friday. The two-year yield, which moves more on expectations about what the Fed will do with short-term rates, rose to 1.18% from 1.15%.

The Fed seems to have license to act more aggressively, with inflation at its highest level in nearly 40 years and the job market looking strong.

Investors are debating whether the Federal Reserve will raise short-term interest rates by only a quarter of a percentage point in March, the amount it usually does, or a half-point. They’re also building up their expectations for how much the Fed will increase rates over the course of 2022.

Economists at BNP Paribas recently said the Fed may raise short-term rates by 1.50 percentage points this year from their record low of nearly zero, for example. That would translate to six increases of a quarter percentage point. Before that, it had been forecasting only four increases.

ASX 200 futures flat​The Australian share market could have a good day on Tuesday despite SPI futures currently pointing to a flat day ahead. 

NYSE Stocks notched broad gains Monday, but still posted their worst monthly loss since the early days of the pandemic, as Wall Street closes a tumultuous January wracked by worries that imminent interest-rate hikes will make everything in markets more challenging.

The S&P 500 came back from an early 0.4% dip to close 1.9% higher. Even so, it’s now 5.9% below the all-time high it set four weeks ago. It fell 5.3% in January, its worst month since falling 12.5% in March 2020, when it hit bottom after the pandemic suddenly shut down the global economy.

The Dow Jones Industrial Average rose 1.2% and the Nasdaq composite climbed 3.4%, its biggest single-day gain since early November 2020. Both also ended in the red for January, with the Dow shedding 3.3% and the Nasdaq losing 9%.


----------



## bigdog

https://apnews.com/article/coronavi...cial-markets-63b3b4b7966b672d15e540c042dbca55

*A late buying drive pushes stocks higher on Wall Street*

By DAMIAN J. TROISE and ALEX VEIGA

A late burst of buying sent stocks higher on Wall Street Tuesday, adding to the market’s recent gains after its January slump.

The S&P 500 gained 0.7%, the Dow Jones Industrial Average rose 0.8% and the Nasdaq composite added 0.7%. Nearly all the gains came in the last hour after the market spent most of the day wavering between gains and losses.

Energy companies led the gainers in the S&P 500. Banks, communication stocks and industrial companies also helped outweigh weakness in other areas of the market.

The stock market is coming off its worst month since early in the pandemic nearly two years ago. Investors have been jittery as they try to determine how upcoming interest rate hikes by the Federal Reserve, intended to squelch inflation, will affect the economy and corporate profits.

While trading remains choppy, the benchmark S&P 500 index is on a three-day winning streak. Investors have mostly priced in a tighter Fed policy and the central bank will likely be reasonable in its pace moving forward, said Jay Hatfield, CEO of Infrastructure Capital Advisors.

“The macro has been priced in and now we’re back to the reality of earnings, which should be constructive,” he said.

The S&P 500 rose 30.99 points to 4,546.54. The index recovered from a 0.7% drop in the early going. It’s now 5.2% below the all-time high it set on Jan. 3.

The Dow gained 273.38 points to 35,405.24, and the Nasdaq rose 106.12 points to 14,346.

Smaller company stocks also outgained the broader market. The Russell 2000 index rose 22.29 points, or 1.1%, to 2,050.74.

Energy stocks made solid gains, led by a 6.4% rise from Exxon Mobil after the company reported a surprisingly good profit in its fourth quarter as demand for oil continues to improve.

Technology stocks bounced back after being down much of the day. The sector has been particularly sensitive to concerns about rising interest rates this year. Higher interest rates tend to make pricey growth stocks, like big tech companies, less attractive for investors. Hewlett Packard Enterprise rose 2.9%.

Utilities and companies that make home goods and personal products were among the decliners. NRG Energy fell 3% and J.M. Smucker fell 1.5%.

UPS surged 14.1% for the biggest gain in the S&P 500 after the package delivery service reported far better results than analysts were expecting. Rival FedEx rose 2.5%.

Investors are reviewing the latest round of earnings, in part to to see how inflation, the virus pandemic and other factors are impacting businesses and their operations moving forward.

The virus pandemic is still a lingering threat and each new variant could bring a surge of cases that threatens businesses and consumer activity.

The economic recovery is being threatened by persistently rising inflation that has raised costs for businesses and consumers. The big fear is that higher prices being passed off to consumers will eventually curtail spending and crimp economic growth.

The Federal Reserve is shifting monetary policy and plans on raising interest rates to fight rising inflation, which will affect stock prices. Ultra-low rates and other stimulus helped markets recover from the initial shock of the coronavirus pandemic, and then supported stunning gains. Investors expect the Fed to start raising interest rates in March, but there is much uncertainty about how sharply and how quickly the Fed will move throughout the year.

Several big companies are on deck for earnings this week. Facebook’s parent, Meta Platforms, will report results on Wednesday, while Amazon and Ford will report their results on Thursday.

Investors are also looking forward to the Labor Department’s employment report for January, which will be released on Friday.

*ASX 200 expected to rise*
The Australian share market looks set to rise again on Wednesday according to the latest SPI futures, the ASX 200 is expected to open the day 22 points or 0.3% higher this morning.

A late burst of buying sent stocks higher on Wall Street Tuesday, adding to the market’s recent gains after its January slump.

The S&P 500 gained 0.7%, the Dow Jones Industrial Average rose 0.8% and the Nasdaq composite added 0.7%. Nearly all the gains came in the last hour after the market spent most of the day wavering between gains and losses.






On closing


----------



## bigdog

https://apnews.com/article/business-asia-sydney-tokyo-china-7fa9bf7091f55ddb6488acf89bec74e1

*Stocks rise on Wall Street, extending their weekly gains*

By DAMIAN J. TROISE and ALEX VEIGA

Another wobbly day of trading on Wall Street ended with more gains for stocks Wednesday, as the latest batch of company earnings reports kept investors in a buying mood.

The S&P 500 rose 0.9% after having briefly dipped into the red in the early going. The Dow Jones Industrial Average rose 0.6% and the Nasdaq added 0.5%. The latest gains have the indexes on pace for solid gains this week.

Traders bid up shares in several companies that reported solid quarterly results, which helped lift the broader market. Google parent Alphabet jumped 7.5% for the biggest gain in the S&P 500 after it said its digital ad business propelled a 36% jump in profit last quarter. Chipmaker Advanced Micro Devices rose 5.1% after it reported surprisingly strong fourth-quarter financial results and gave investors an encouraging sales forecast.

About three-fourths of the companies in the benchmark S&P 500 index rose, led by communication services and technology stocks. Health care companies also accounted for a big share of the gains. Big retailers and other companies that rely directly on consumer spending fell. Amazon slid 0.4% and Gap fell 3.3%.

Most of the companies that have reported results for the last three months of 2021 have delivered earnings and revenue that topped Wall Street’s forecasts, despite the higher costs they face due to rising inflation.

“So, far we’re not seeing the kind of margin pressure that people maybe worried about with rising input costs,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management. “Fundamentally, that’s been a support.”

The S&P 500 rose 42.84 points to 4,589.38. The Dow gained 224.09 points to 35,629.33, and the Nasdaq rose 71.54 to 14,417.55.

Small company stocks bucked the broader market rally. The Russell 2000 index fell 21.22 points, or 1%, to 2,029.52.

Bond yields fell. The yield on the 10-year Treasury fell to 1.77% from 1.80% late Tuesday.

Major stock indexes are on track for solid gains this week, a welcome turnaround from January’s losses. Last month’s slide came as Wall Street faced several threats including rising inflation, the prospect of higher interest rates and COVID-19′s continued drag on the economic recovery.

Inflation remains a key concern as rising costs threaten profit margins and put more pressure on consumer spending. The Federal Reserve intends to raise interest rates to try cooling inflation, which is at a four-decade high. Investors expect the first rate hike in March and at least three more in 2022.

Investors are reviewing the latest round of corporate earnings to gauge the damage that rising costs have had on different industries and how companies will deal with inflation moving forward.

“You’re seeing strong demand in technology from companies continuing to drive productivity and overcome supply challenges and overcome labor shortages,” Hainlin said. “Companies don’t do that if they’re terribly worried about the economy tipping into recession.”

With about 40% of S&P companies having reported quarterly results so far this earnings season, about 64% have posted earnings and revenue that topped analyst estimates, according to S&P Global Market Intelligence.

Marathon Petroleum jumped 6.1% and scientific instrument and laboratory supplies company Thermo Fisher Scientific rose 1.7% after reporting solid financial results.

Some company earnings fell short of Wall Street’s expectations.

PayPal slumped 24.6%, its worst trading day since it split from eBay in 2015 after reporting a weak quarter and subdued guidance.

Facebook parent company Meta Platforms plunged 21.4% in after-hours trading after its latest quarterly earnings fell well short of Wall Street’s estimates.

Several big companies will release earnings later this week, including Amazon.com and Ford.

ASX 200 futures flat​Another wobbly day of trading on Wall Street ended with more gains for stocks Wednesday, as the latest batch of company earnings reports kept investors in a buying mood.

The S&P 500 rose 0.9% after having briefly dipped into the red in the early going. The Dow Jones Industrial Average rose 0.6% and the Nasdaq added 0.5%. The latest gains have the indexes on pace for solid gains this week.

The Australian share market looks set to have a subdued day on Thursday according to the latest SPI futures, the ASX 200 is expected to open the day flat this morning.


----------



## Garpal Gumnut

That 25% hit to PayPal PYPL will have ramifications.

It has been a weathervane for low value low volume frequent purchases during the pandemic.

gg


----------



## bigdog

https://apnews.com/article/business-china-asia-seoul-earnings-ebfcf4dbee2fff7235cec79328fd879b

*A plunge in Facebook’s parent company weighs on tech stocks*

By DAMIAN J. TROISE and ALEX VEIGA

A historic plunge in the stock price of Facebook’s parent company helped yank other tech stocks lower on Wall Street Thursday, abruptly ending a four-day winning streak for the market.

The 26.4% wipeout in Meta Platforms, as Facebook’s owner is now known, erased more than $230 billion in market value, easily the biggest one-day loss in history for a U.S. company. The stocks of other social media companies including Twitter and Snap also fell.

Because Meta is valued so highly, a big swing in its stock price can also sink or lift broader market indexes. The S&P 500 fell 2.4%, its biggest drop in nearly a year. The tech-focused Nasdaq composite gave up 3.7%, its biggest loss since September 2020. The Dow Jones Industrial Average, which does not include Meta Platforms, fell 1.5%.

Meta sank after forecasting revenue well below analysts’ expectations for the current quarter following privacy changes by Apple and increased competition from TikTok. It was a disappointment for a company that investors have become accustomed to delivering spectacular growth. Meta also reported a rare decline in profit due to a sharp increase in expenses as it invests in transforming itself into a virtual reality-based company.

The steep drop weighed on fellow social media company Twitter, which fell 5.6%. Snapchat’s parent company Snap sank 23.6% and Pinterest lost 10.3%. Snap soared 54% and Pinterest vaulted 28% in after-market trading after each reported better-than-expected results. Amazon.com jumped 18% in after-hours trading after reporting strong fourth-quarter results despite supply chain snags.

Big technology and communications companies played a big role in driving gains for the broader market throughout the pandemic and much of the recovery in 2021, but the market seems to have shifted, said Brad McMillan, chief investment officer for Commonwealth Financial Network.

“There’s a general sense that what’s been moving the market higher is not going to take us to the next level,” McMillan said. “The question is where is the next growth engine coming from.”

The S&P 500 fell 111.94 points to 4,477.44. The Dow dropped 518.17 points to 35,111.16. The Nasdaq slid 538.73 points to 13,878.82.

Small company stocks also fell. The Russell 2000 index lost 38.48 points, or 1.9%, to 1,991.03.

Communications and technology stocks had some of the biggest losses. The sectors have been behind much of the choppiness in markets since the beginning of the year as investors shift money in expectation of rising interest rates. Higher rates make shares in high-flying tech companies and other expensive growth stocks relatively less attractive to investors.

Bond yields rose sharply on Thursday. The yield on the 10-year Treasury note, which is used as a benchmark to set interest rates on mortgages and many other kinds of loans, rose to 1.84% from 1.76% late Wednesday.

Wall Street anticipates the Federal Reserve’s first interest rate hike to come in March and is cautiously watching for how the central bank paces future increases to help fight rising inflation.

“It’s not a perfect path, it’ll be bumpy, but the direction is pretty clear,” said Guy LeBas, chief fixed income strategist at Janney Capital Management.

Inflation will likely persist until supply chains loosen and help ease costs for businesses, while lowering prices for consumers. Still, the Fed needs to convince people that it is taking steps to fight rising inflation.

“The idea is that raising short-term rates reduces the perception that inflation will be higher in the future,” LeBas said. “If the Fed successfully pulls this off then expectations won’t rise.”

In Europe, the Bank of England raised interest rates for the second time in three months, moving more quickly to tame inflation than the Fed and the European Central Bank. Meanwhile, the head of the ECB said record inflation could linger for “longer than expected” and appeared to open the door ever so slightly for a rate increase this year. Stock markets in Europe fell.

*ASX 200 expected to tumble*
The Australian share market looks set to end the week in the red. According to the latest SPI futures, the ASX 200 is expected to open the day 0.8% lower this morning.

A historic plunge in the stock price of Facebook’s parent company helped yank other tech stocks lower on Wall Street Thursday, abruptly ending a four-day winning streak for the market.

The S&P 500 fell 111.94 points to 4,477.44 (2.44%). The Dow dropped 518.17 points to 35,111.16 (1.45%). The Nasdaq slid 538.73 points to 13,878.82 (3.74%)


----------



## bigdog

https://apnews.com/article/business-media-asia-social-media-tokyo-4e00533fefd977260ddfc7d624dd1ec8

*Stocks mixed, yields fly as jobs data raises rate outlook*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Wall Street closed out a mostly upbeat week for stocks Friday with a mixed finish for the major indexes and a surge in Treasury yields after a blowout U.S. jobs report raised investors’ expectations that the Federal Reserve may soon start raising interest rates sharply.

The S&P 500 settled for a 0.5% gain after swinging between a 0.6% drop and a 1.4% increase. The Dow Jones Industrial Average slipped 0.1% after a last-minute burst of selling. The Nasdaq composite rose 1.6%. The three indexes posted a weekly gain for the second week in a row.

The latest monthly jobs data was a key focus for investors. The Labor Department said employers added 467,000 jobs last month, triple economists’ forecasts. Some economists were even expecting a loss of jobs amid January’s surge in coronavirus infections because of the omicron variant.

The stronger-than-expected data seems to lock in the Fed’s pivot toward fighting inflation by raising rates and making other moves that would ultimately act as a drag on markets. A 13.5% gain for online retail giant Amazon after the company delivered a strong earnings report helped lift the S&P 500, even though more stocks fell than rose in the benchmark index.

“Until you get a more set-in-stone picture for what tightening will be from the Fed, you should expect volatility to be similar to where we’ve been the last two weeks,” said Matt Stucky, senior portfolio manager at Northwestern Mutual Wealth.

The S&P 500 rose 23.09 points to 4,500.53, while the Dow slipped 21.42 points to 35,089.74. The Nasdaq gained 219.19 points to 14,098.01, while the smaller stocks in the Russell 2000 rose 11.33 points, or 0.6%, to 2,002.36.

Treasury yields leaped immediately following the jobs report’s release, tracking forecasts that the Fed will hike short-term interest rates more aggressively than earlier expected. The two-year yield, which tends to move with expectations for the Fed’s actions, jumped to its highest level since the start of the pandemic and is more than double what it was two months ago.

The wide expectation is for the Fed to raise short-term rates next month off their record low of nearly zero, with the only question by how much. Friday’s jobs report has investors now pricing in a nearly 32.7% probability of an increase of 0.50 percentage points, instead of the traditional 0.25 points. That’s more than double the probability that Wall Street foresaw a day earlier, according to CME Group.

Any increase would mark an abrupt turnaround from much of the last two years, when ultra-low rates helped prices surge for everything from stocks to cryptocurrencies. Bonds paying more in interest would mean investors feel less need to reach for such risky things for returns.

That’s why Wall Street has been so shaky over the last month, as investors rush to make moves to get ahead of the Fed. On one hand, higher rates will likely mean stock investors pay lower prices for each $1 of profit that a company produces. On the other, stock prices could remain resilient despite that if those corporate profits keep rising.

Stocks seen as the most expensive have taken some of the hardest hits in Wall Street’s reordering. Much of the focus has been on tech and internet stocks that soared through the pandemic on expectations they can continue to grow regardless of the economy.

Even there, uncertainty still reigns as some tech-oriented companies have reported profits that continue to blow past analysts’ expectations, while others like Facebook’s parent company have stumbled.

Amazon joined the list of the former after reporting stronger results for its latest quarter than analysts expected. Because it’s one of the biggest stocks on Wall Street in terms of market value, its movements have an outsized effect on the S&P 500 and other indexes.

Snapchat parent Snap soared 58.8%, and Pinterest gained 11.2% following their own earnings reports.

Facebook’s parent fell another 0.3% a day after erasing more than $230 billion in its market value, easily the biggest one-day loss in history for a U.S. company.

Ford slumped 9.7% and was another one of the heaviest weights on the S&P 500 after it reported weaker revenue and profit for the last quarter than expected.

Shortages of computer chips continue to hurt its auto production. Such supply-chain issues have been at the heart of the high inflation ripping around the world, and increases in prices at the U.S. consumer level are at a nearly 40-year high.

That’s raising the pressure on the Fed to act decisively to rein in inflation. Data on wages within Friday’s jobs report may have upped the pressure.

Average hourly earnings for workers jumped 5.7% in January from a year earlier. That was a faster acceleration from December’s 4.9% rise than economists expected. While such raises are great for workers, higher wages can also feed into longer-lasting inflation than if prices for just gasoline or other commodities were rising.

With the rising expectations for Fed action, the two-year Treasury yield jumped to 1.31% from 1.19% late Thursday. The 10-year yield leaped to 1.92% from 1.82%.


----------



## bigdog

ASX 200 expected to fall​The Australian share market looks set to start the week in the red despite a positive finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 41 points or 0.6% lower this morning. 

Wall Street closed out a mostly upbeat week for stocks Friday with a mixed finish for the major indexes and a surge in Treasury yields after a blowout U.S. jobs report raised investors’ expectations that the Federal Reserve may soon start raising interest rates sharply.

The S&P 500 settled for a 0.5% gain after swinging between a 0.6% drop and a 1.4% increase. The Dow Jones Industrial Average slipped 0.1% after a last-minute burst of selling. The Nasdaq composite rose 1.6%. The three indexes posted a weekly gain for the second week in a row.


----------



## bigdog

https://apnews.com/article/coronavi...h-tokyo-asia-fde6a862e786f0a608defd6775744626

*Stocks end another up-and-down day with mixed results*

By DAMIAN J. TROISE and ALEX VEIGA

Another wobbly day on Wall Street ended Monday with an uneven finish for the major stock indexes as losses by communication and technology companies kept gains elsewhere in the market in check.

The S&P 500 fell 0.4%, giving back some of its recent gains. The Dow Jones Industrial Average was little changed after wavering between a gain of 0.7% and a loss of 0.3%. The tech-heavy Nasdaq composite fell 0.6%.

The uncertain trading follows weeks of volatility for major indexes as traders try to figure out how stock valuations will be affected by the interest rate hikes looming on the horizon as the Federal Reserves moves to tame inflation.

Wall Street is coming off of two weeks of gains following a January stumble that served partially as a “pressure relief valve,” said Mark Hackett, chief of investment research at Nationwide.

“Some of the emotion that we’ve been dealing with in the first several weeks of the year has started to ease,” he said. “You almost needed that; the expectations had been so high.”

The S&P 500 slipped 16.66 points to 4,483.87. The benchmark index is now 6.5% below the all-time high it set on Jan. 3.

The Dow was essentially flat after inching up 1.39 points to 35,091.13.. The Nasdaq fell 82.34 points to 14,015.67.

Small-company stocks outpaced the broader market. The Russell 2000 rose 10.24 points, or 0.5%, to 2,012.60.

Communication and technology companies were the biggest drag on the S&P 500. Facebook’s parent, Meta, fell 5.1% and Google’s parent company Alphabet fell 2.9%. Microsoft fell 1.6%.

Energy and financial companies made solid gains. Chevron rose 2% and insurer Allstate rose 2.2%.

Travel-related companies also gained ground. Carnival rose 7.8%, Royal Caribbean gained 8.4% and American Airlines added 5%.

Treasury yields were broadly lower. The yield on the 10-year Treasury slipped to 1.92% from 1.93% late Friday.

Investors are still gauging the impact of rising inflation on businesses and consumers while remaining cautious about the Federal Reserve’s plan to fight inflation. Wall Street will get another key update on inflation Thursday with the Labor Department’s report on consumer prices for January.

The Fed plans to raise interest rates to fight inflation. Investors expect the first hikes in March and are wary about the pace and quantity of rate increases in 2022.

Investors have another busy week reviewing the latest corporate report cards. Meat producer Tyson Foods rose 12.2% after reporting strong results.

Several big companies are on deck this week to report their results, including Pfizer on Tuesday and Walt Disney on Wednesday. Twitter and Coca-Cola will report on Thursday.

Outside of earnings, several companies gained ground on buyout news Monday. Spirit Airlines jumped 17.2% after Frontier Airlines’ parent company agreed to buy the carrier in a deal worth $2.9 billion.

Peloton rose 20.9% following reports that the exercise bike and treadmill company is a buyout target for companies including Nike and Amazon. The company has been on a roller-coaster ride since the pandemic began. Its stock surged more than 400% in 2020 as COVID-19 forced lockdowns and shifted the workout trend from the gym to home. It spend 2021 giving back nearly all of those gains as businesses reopened and people started heading back to gyms.

Shares have been choppy this year for Peloton, especially following reports in January that its was temporarily halting production of its connected fitness products amid waning consumer demand. Activist investor Blackwells Capital asked the company to remove CEO John Foley and consider selling the company just a few days after those reports.

ASX 200 futures pointing slightly higher​The Australian share market is expected to open the day slightly higher this morning following a positive start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 5 points or 0.1% higher. 

Another wobbly day on Wall Street ended Monday with an uneven finish for the major stock indexes as losses by communication and technology companies kept gains elsewhere in the market in check.

The S&P 500 fell 0.37%, giving back some of its recent gains. The Dow Jones Industrial Average was little changed after wavering between a gain of 0.7% and a loss of 0.3%. The tech-heavy Nasdaq composite fell 0.58%.


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## bigdog

https://apnews.com/article/business...ydney-europe-4817766f7f26047e7b84a574aab2567b

*Stocks close higher, bond yields reach pre-pandemic high*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies and banks helped drive stocks higher on Wall Street Tuesday, as the market bounced back from an early slide to more than make up its losses from the day before.

The S&P 500 rose 0.8% after having been down 0.4%. More than three fourths of the stocks in the benchmark index notched gains. The Dow Jones Industrial Average rose 1.1% and the Nasdaq composite gained 1.3%.

Bond yields rose, lifting the 10-year Treasury yield to the highest level since before the pandemic began.

The indexes were all down in early trading but turned solidly higher around midmorning. That turnaround gained momentum after the S&P 500 crossed above 4,500 points, an important “resistance level,” something traders watch for when trying to guess the direction that a stock or index will move next.

“Maybe today was more of a technical move as the market broke above that important resistance level,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 rose 37.67 points to 4,521.54. The index is now about 5.7% below the all-time high it set Jan. 3.

The Dow gained 371.65 points to 35,462.78, and the Nasdaq rose 178.79 points to 14,194.45.

Smaller company stocks outpaced the broader market in a potential sign that investors are optimistic about economic growth. The Russell 2000 rose 32.77 points, or 1.6%, to 2,045.37.

The mostly muted trading so far this week follows weeks of volatility for major indexes. Rising inflation and the Fed’s plan to raise interest rates to fight it have been key concerns for investors. Any increase in rates would mark an abrupt turnaround from much of the last two years, when ultra-low rates helped prices surge for everything from stocks to cryptocurrencies.

“We’re in a bit of a holding pattern right now,” said Ross Mayfield, investment strategy analyst at Baird. “A lot of the near-term indigestion is priced in.”

The latest report on consumer prices from the Labor Department on Thursday will give Wall Street another update on just how much inflation is hitting consumers’ wallets. Economists expect a 7.3% rise in inflation in January, which would show that inflation remains at its highest levels in four decades. That could add to concerns over how often the Fed moves to raise rates this year.

Tuesday’s afternoon market rebound could suggest investors are assuming that the consumer price index report will show a smaller-than-expected increase, Stovall said.

“We could see the 10-year yield retrace some of its steps in the days ahead,” he said.

The yield on the 10-year Treasury note rose to 1.96%, its highest level since before the pandemic. The yield, which is used to set interest rates on mortgages and many other kinds of loans, traded at 1.91% late Monday.

Banks, which benefit from higher interest rates and rising bond yields, made solid gains. Bank of America rose 1.8%. Raw materials companies, including steelmakers and paper producers, also gained ground.

Technology companies accounted for a big slice of the S&P 500′s rally. Apple rose 1.8%.

Chipmaker Nvidia rose 1.5% after shaking off an early loss following its announcement that it terminated its plan to buy chip designer Arm from Softbank.

Retailers and other companies that rely on direct consumer spending also helped lift the market. Amazon.com rose 2.2% and Home Depot gained 1.1%.

The price of U.S. crude oil fell 2.1% and weighed down energy stocks. Chevron fell 1.5%.

Peloton jumped 25.3% after announcing a corporate shake-up that included the resignation of its co-founder as CEO and big job cuts.

Investors continued reviewing the latest corporate earnings with mixed reactions. Pfizer fell 2.8% after giving Wall Street a discouraging profit and revenue forecast. Harley-Davidson jumped 15.5% after reporting a surprising fourth-quarter profit.

ASX 200 expected to edge higher​The Australian share market looks set to rise slightly on Wednesday following a positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 5 points higher this morning. 

Technology companies and banks helped drive stocks higher on Wall Street Tuesday, as the market bounced back from an early slide to more than make up its losses from the day before.

The S&P 500 rose 0.84% after having been down 0.4%. More than three fourths of the stocks in the benchmark index notched gains. The Dow Jones Industrial Average rose 1.06% and the Nasdaq composite gained 1.28%.


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## bigdog

https://apnews.com/article/business...cial-markets-d2a47c67ab10cef0d1ce4cfd05366af0

*Stocks rise broadly on Wall Street with more help from tech*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies led a broad rally for stocks on Wall Street Wednesday, pushing the market further into the green for the week.

The S&P 500 rose 1.5%, the Dow Jones Industrial Average gained 0.9% and the tech-heavy Nasdaq composite rose 2.1%. The indexes started off the day headed higher and never slipped into the red, a change from the market’s recent bout of volatile trading.

More than 85% of stocks in the S&P 500 gained ground, with technology and communications stocks powering much of the gains. Microsoft rose 2.2% and Google’s parent company, Alphabet, rose 1.6%.

Bond yields were mixed. The yield on the 10-year Treasury held steady at 1.95%. It’s still the highest it’s been since before the pandemic began.

Investors continued to focus on a mixed batch of company earnings reports as they try to gauge how Corporate America is dealing with higher inflation and persistent global supply chain disruptions.

Of the roughly 60% of S&P 500 companies that have reported results for the last three months of 2021, about 62% delivered earnings and revenue that topped Wall Street’s forecasts, according to S&P Global Market Intelligence.

“Earnings and sales really have come in overall quite nicely relative to expectations at the beginning of this quarter, so that’s a positive force within the market,” said Lisa Erickson, senior market strategist at U.S. Bank Wealth Management.

The S&P 500 rose 65.64 points to 4,587.18. The benchmark index is now about 4.4% below the all-time high it set Jan. 3.

The Dow gained 305.28 points to 35,768.06, while the Nasdaq rose 295.92 points to 14,490.37. The major stock indexes are all on pace for a weekly gain.

Small company stocks also notched gains. The Russell 2000 rose 38.13 points, or 1.9%, to 2,083.50.

Investors are looking closely at company earnings reports to determine how different industries are dealing with persistent supply chain problems. That is one of the factors pushing inflation higher and making operations more costly for companies while making products more expensive for consumers.

Chipotle Mexican Grill jumped 10.2% after beating analyst’s fourth-quarter earnings and revenue forecasts. The company raised menu prices 4% in December as it faced higher costs for beef and labor.

“Overall, companies have found that increasing prices have been more acceptable to their customers than in the past,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute.

Wall Street will get another update Thursday on rising prices when the Labor Department releases its report on inflation for January. Economists are forecasting the report to show inflation rose to a four-decade high of 7.3%.

An unexpectedly smaller rise in prices could be seen as a signal that inflation might be easing and could support markets, though a bigger increase could weigh on stocks.

“People are trying to get in position to where they want to be before this number is released tomorrow,” Wren said.

Persistently rising inflation could increase pressure on the Federal Reserve to speed up plans to raise interest rates in order to fight inflation.

Investors expect the Fed to raise rates at least four times this year, starting next month. They remain concerned that the Fed may need to raise rates more often than that if inflation pressure remains high. As a result, markets have become more volatile as investors shift money around to prepare for an investing environment with higher interest rates following an extended period of ultra-low interest rate policy throughout the pandemic.

Wall Street mostly cheered the latest round of corporate report cards on Wednesday. Taco Bell owner Yum Brands rose 2.2% after reporting strong fourth-quarter revenue. Freight transportation company XPO Logistics rose 8.3% after also reporting solid financial results.

The Walt Disney Co. and Uber rose in after-hours trading after each reported results that topped Wall Street’s estimates.

Drugstore chain CVS fell 5.4% for the biggest decline in the S&P 500 after giving investors a discouraging earnings forecast.

Twitter and Coca-Cola report their results on Thursday.

ASX 200 to open higher​The Australian share market looks set to have another good day on Thursday following a strong night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 0.4% or 30 points higher this morning. 

Technology companies led a broad rally for stocks on Wall Street Wednesday, pushing the market further into the green for the week.

The S&P 500 rose 1.45%, the Dow Jones Industrial Average gained 0.86% and the tech-heavy Nasdaq composite rose 2.08%. The indexes started off the day headed higher and never slipped into the red, a change from the market’s recent bout of volatile trading.


----------



## bigdog

https://apnews.com/article/russia-u...iness-health-fd12fec2bd3dd3c39a7314e4620d6545

*Stocks slump, bond yields soar after a hot inflation reading*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Stocks slumped and bond yields moved sharply higher Thursday after a hot reading on inflation led to greater expectations that the Federal Reserve will have to move forcefully to cool down the economy by raising interest rates.

The hottest inflation reading since 1982 sent the S&P 500 down 1.8%. It also sent Treasury yields jumping, as traders built up bets the Fed may have to apply the brakes to the economy with a bigger-than-usual hike in interest rates next month. The yield on the 10-year Treasury topped 2% for the first time since August 2019, according to Tradeweb.

Volatile trading on has been the norm on Wall Street this year as investors try to gauge how much and how quickly the Fed will raise interest rates to tame surging inflation. The benchmark S&P 500 has fallen three out of the last five weeks and is now 6.1% below the all-time high it set Jan. 3.

More than 85% of the stocks in the S&P 500 closed lower after another day of sharp swings for the indexes. The Dow Jones Industrial Average fell 1.5% and the Nasdaq composite slid 2.1%.

“We caution that markets could remain choppy for the coming months until either inflation stabilizes or the market is comfortable that the Fed is doing enough, but not too much,” said Matt Peron, director of research at Janus Henderson Investors. “The margin of error for the Fed is getting smaller, but our base case is that the markets will stabilize in the second half of this year.”

Inflation has been building over the last year as the economy roared back from the pandemic. Supply shortages and snags in global supply chains also pushed inflation higher, and prices at the consumer level were up 7.5% last month from a year earlier.

A separate report also said fewer workers filed for unemployment last week than expected. That’s encouraging for workers, but it could add more upward pressure on inflation.

The strong jobs market and high inflation have forced the Federal Reserve to make a hard pivot, and it’s said it’s ready to begin removing the massive aid it’s poured into financial markets. Such moves to raise interest rates could rein in inflation, but they would also put downward pressure on all kinds of investments, from stocks to cryptocurrencies.

Following the inflation report’s release, traders see a 95.7% chance that the Fed will raise short-term interest rates by half a percentage point at its meeting next month, double the traditional move. A day earlier, those same traders saw just a 24% probability of such a big move, according to CME Group. Whatever its size, it would be the first increase since 2018.

In the bond market, yields were jumping most for shorter-term Treasurys. The two-year yield leaped to 1.62% from 1.36% late Wednesday, a huge move. That rate tends to track expectations for what the Fed will do.

The 10-year yield also rose, up to 2.05% from 1.93% after earlier topping 2%, but not by as much as the two-year Treasury. It tends to move more on expectations for future inflation and economic growth.

“The fixed-income market itself has been flirting and really trying to break through that psychological 2% level, and it did so today,” said Megan Horneman, director of portfolio strategy at Verdence Capital Advisors.

The S&P 500 fell 83.10 points to 4,504.08. The Dow slid 526.47 points to 35,241.59. The Nasdaq lost 304.73 points to 14,185.64.

Small company stocks also fell. The Russell 2000 dropped 32.34 points, or 1.6%, to 2,051.16.

Expectations for higher rates helped send several Big Tech stocks lower, including a 2.8% drop for Microsoft. That’s been the usual reaction in the market recently, a mirror image to the preceding years when ultra-low rates helped send tech stocks to the market’s biggest gains.

Energy stocks, which can benefit from higher inflation as energy prices rise, and raw materials companies held up better than other sectors.

The Walt Disney Co. jumped 3.3% for the biggest gain in the S&P 500 after it reported a rebound in theme-park attendance last quarter and said it added more subscribers to its Disney+ streaming service than analysts expected. Both its profit and revenue for the latest quarter topped Wall Street’s forecasts.

If companies can keep growing their profits, their stock prices could continue to rise even if higher interest rates limit how much stock investors are willing to pay for each $1 of earnings.

That’s why one of the big questions on Wall Street is how companies will navigate the higher inflation sweeping the world.

At Coca-Cola Co., Chairman and CEO James Quincey said the company will likely raise some prices to offset rising transportation and commodity costs. But Quincey said the company is treading carefully.

“While it’s easy to respond to inflation by putting up the prices, there is clearly __ as there is broad-based inflation __ going to be a squeeze on real incomes in a number of countries,” Quincey said Thursday during a conference call with investors. “We do not want to lose customers.”

Coca-Cola rose 0.6% after it reported stronger profit for the latest quarter than expected.

Cereal maker Kellogg expects to see double-digit inflation for ingredients as well as packaging cartons and cans this year. The company is also raising prices to offset the impact. Its shares rose 3.1%.


ASX 200 expected to sink​The Australian share market looks set to end the week deep in the red after the US inflation reading of 7.5% spooked Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 33 points or 0.5% lower this morning. 

Stocks slumped and bond yields moved sharply higher Thursday after a hot reading on inflation led to greater expectations that the Federal Reserve will have to move forcefully to cool down the economy by raising interest rates.

The hottest inflation reading since 1982 sent the S&P 500 down 1.8%. It also sent Treasury yields jumping, as traders built up bets the Fed may have to apply the brakes to the economy with a bigger-than-usual hike in interest rates next month. The yield on the 10-year Treasury topped 2% for the first time since August 2019, according to Tradeweb.

More than 85% of the stocks in the S&P 500 closed lower after another day of sharp swings for the indexes. The Dow Jones Industrial Average fell 1.5% and the Nasdaq composite slid 2.1%.


----------



## bigdog

https://apnews.com/article/coronavi...cial-markets-3ee05a78d313c466b6be7139e65557cc

*Stocks fall, this time on Ukraine worries, to cap rough week*

By DAMIAN J. TROISE and STAN CHOE

Stocks tumbled again Friday, and this time bond yields joined in the swoon as worries about an imminent Russian invasion of Ukraine piled onto Wall Street’s already heavy list of concerns about inflation and interest rates.

The S&P 500 lost 1.9% after the White House encouraged all U.S. citizens to leave Ukraine within the next 48 hours, before possible military action by Russia. The price of oil rose more than 3%.

Stocks took a sudden turn lower in the middle of trading, with losses for the S&P 500 nearly tripling in about half an hour. Similar, knee-jerk swings swept through other markets as investors pulled money out of riskier things like stocks and moved instead toward the safety of bonds and gold.

They’re just the latest sharp veers in what’s already been a tumultuous 2022 for markets. Wall Street has been shaking as it comes to grips with a Federal Reserve forced to aggressively remove the low interest rates that investors love, in order to beat back high inflation.

The S&P 500 fell 85.44 points to 4,418.64 to lock in its first weekly loss in the last three but its fourth in the last six. The Dow Jones Industrial Average lost 503.53, or 1.4%, to 34,738.06, and the Nasdaq dropped 394.49, or 2.8%, to 13,791.15.

Tensions have been simmering for a while about possible military action by Russia, and U.S. national security adviser Jake Sullivan said Friday that the United States did not have definitive information that Russian President Vladimir Putin had ordered an invasion. But he also said that “the threat is now immediate enough that prudence demands that it is the time to leave now” for Americans in the country.

Russia is one of the world’s largest energy producers, and the warnings gave oil prices an immediate jolt. Brent crude, the international standard, rose 3.3% to settle at $94.44 barrel amid the possibility that violence could disrupt supplies. U.S. crude rose 3.6% to settle at $93.10 per barrel.

Prices were already rising before the Ukraine warnings, likely because of a statement from the International Energy Agency that supplies in the oil market are already tight, said Stewart Glickman, energy equity analyst at CFRA.

Gold also rose, gaining nearly $20 in half an hour during the afternoon to top $1,860 per ounce, as investors searched for safety.

A similar rush for stability also drove investors in Treasury bonds, which in turn lowered their yields. The 10-year Treasury yield sank to 1.91% from roughly 2.03% late Thursday.

For bond yields, it’s a sharp U-turn after they steadily marched higher on expectations that the Fed will raise rates more often and by a sharper degree this year than expected. Just a day earlier, the 10-year yield topped 2% for the first time since 2019.

Forecasts for a more aggressive Fed got a huge jolt on Thursday, when a report on inflation came in hotter than expected and showed that it was at a 40-year high. The Fed can slow the economy and inflation by raising interest rates, something it hasn’t done since 2018, but higher rates also put downward pressure on stocks and other investments.

Economists at Goldman Sachs just increased their forecast for rate increases this year by the Fed to seven from five, for example.

Much of the market’s volatility in early 2022 has centered around expectations for what the Fed will do. Besides Thursday’s report on inflation, other flashpoints included the release of the minutes of a Fed policy meeting that said it may reverse its bond-buying program earlier than expected.

The market also shuddered earlier this month after Facebook’s parent company reported surprisingly weak results for its latest quarter. That threatened the belief that continued profit growth can help stocks power through the downward pressures created by higher rates.

Markets will likely remain volatile as the Fed moves closer to raising rates.

“What we’re going through is likely going to continue in the short run,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance.

The prospect for violence in Ukraine only adds more uncertainty, though some on Wall Street said it will ultimately likely recede in importance to markets.

“You can’t minimize what today’s news could mean on that part of the world and the people impacted, but from an investment point of view we need to remember that major geopolitical events historically haven’t moved stocks much,” Ryan Detrick, chief market strategist for LPL Financial wrote in a research note.

“For instance, after JFK was assassinated in November 1963 stocks went on one of their best 6 month runs ever. The truth is a solid economy can make up for a lot of sins.”


----------



## bigdog

ASX 200 expected to fall again​The Australian share market looks set to start the week in the red following a selloff on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 76 points or 1.1% lower this morning. 

Stocks tumbled again Friday, and this time bond yields joined in the swoon as worries about an imminent Russian invasion of Ukraine piled onto Wall Street’s already heavy list of concerns about inflation and interest rates.

On Wall Street, the Dow Jones fell 1.4%, the S&P 500 dropped 1.9%, and the Nasdaq sank 2.8% lower.


----------



## bigdog

https://apnews.com/article/russia-u...sia-shanghai-1838f9b22e91327c2c843f6ca99cadb0

*Stocks close lower as Wall Street watches Ukraine tensions*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks on Wall Street shed early gains and closed broadly lower Monday as the U.S. moved to close its embassy in Ukraine amid heightened tensions over the thousands of Russian troops that have been amassing on the border.

The S&P 500 fell 0.4% after having been down as much as 1.2% shortly after the U.S. said it is closing its embassy in Ukraine and moving all remaining staffers there to a city near the Polish border. The move comes as diplomatic efforts continued Monday in a bid to head off what U.S. officials have warned could be an imminent Russian attack on Ukraine.

Bond yields rose broadly, as did energy futures and the price of gold.

The Dow Jones Industrial Average fell 0.5% and the Nasdaq composite ended essentially flat after having been up 1% in the early going. The three major stock indexes were coming off a weekly loss.

The market slide adds to losses from a late-afternoon sell-off on Friday after the White House told Americans to leave Ukraine within 48 hours over concerns that Russia could invade that country soon. Other governments including Russia pulled diplomats and their citizens out of the country.

Wall Street is also trying to gauge how stocks and the broader economy will be affected from another source of uncertainty: How far and how quickly the Federal Reserve will move to raise interest rates to quash surging inflation.

“The market is really paying attention to geopolitical stuff right now, whether it’s stuff out of Ukraine or in D.C. with respect to what the Fed is going to do,” said Willie Delwiche, investment strategist at All Star Charts. “The bigger story is inflation and rates. The Fed is catching up to inflation, the bond market is now taking the Fed seriously and the question is ’what do U.S. stocks do in that environment?”

The S&P 500 fell 16.97 points to 4,401.67. Nearly 80% of the stocks in the benchmark index fell. Financial, health care and energy companies were among the biggest weights on the market. Citigroup fell 1%, Moderna slid 11.7% and Exxon Mobil dropped 1.5%.

The Dow fell 171.89 points to 34,566.17. The blue-chip index had been down 433 points by midafternoon. The Nasdaq slipped 0.24 points to 13,790.92.

Smaller company stocks, which had been on pace for gains, also fell. The Russell 2000 slid 9.36 points, or 0.5%, to 2,020.79.

A potential escalation of the conflict between Russia and Ukraine also weighed heavily on European markets, which fell sharply.

Nations are still searching for a diplomatic solution to the situation and Russia’s top diplomat advised Russian President Vladimir Putin to continue a dialogue with the U.S. and its allies.

The price of U.S. crude oil climbed 2.5%, while natural gas prices jumped 6.4%. Russia is a major energy producer. Any military action that disrupts supplies could send shockwaves through energy markets and global industry.

The price of gold, traditionally a safe haven during geopolitical uncertainty, rose 1.5%.

Bond yields also rose. The yield on the 10-year Treasury rose to 1.99% from 1.94% late Friday.

The crisis in Ukraine is yet another concern for investors as they try to figure out how rising inflation and looming interest rate hikes will impact investments and the economy. Inflation stands at a four-decade high and the Federal Reserve is planning to raise interest rates to help cool inflation.

The central bank is expected to start raising its benchmark interest rate in March and Wall Street expects as many as seven rate hikes this year.

While Fed policymakers agree the central bank should begin raising interest rates next month, they differ on how quickly to do so. On Monday, James Bullard, president of the Federal Reserve Bank of St. Louis, repeated his call for the Fed to take the aggressive step of raising its benchmark short-term rate by a full percentage point by July 1. Esther George, president of the Kansas City Fed, expressed support for a more “gradual” approach. And Mary Daly of the San Francisco Fed declined to commit herself to more than a modest rate hike next month.

Their comments follow last week’s report that inflation jumped 7.5% in January from a year ago, the fastest increase in four decades. Prices also rose 0.6% from December to January, the same as the previous month, suggesting that price gains still aren’t slowing, as many economists and Fed officials have hoped.

The Fed typically responds to high inflation by making borrowing more expensive, which slows spending and the pace of price increases.

“Last week’s inflation report kind of woke Fed officials up a little and really brought to mind that they’re behind the curve here, and by acting aggressively earlier they can maybe do less overall in terms tightening,” Delwiche said.

Investors also have their eye on the latest round of corporate earnings, in part to get a better understanding of how companies are dealing with high inflation. Some of the more notable companies reporting earnings this week include Airbnb on Tuesday, DoorDash on Wednesday and Walmart on Thursday.

Investors will also get more updates on inflation and how that might be impacting spending. The Labor Department will release its January report for prices at the wholesale level on Tuesday and the Commerce Department will release its January retail sales report on Wednesday.

ASX 200 futures pointing lower​The Australian share market is expected to open the day sharply lower this morning following a poor start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 105 points or 1.5% lower. 

Stocks on Wall Street shed early gains and closed broadly lower Monday as the U.S. moved to close its embassy in Ukraine amid heightened tensions over the thousands of Russian troops that have been amassing on the border.

 The S&P 500 fell 0.4% after having been down as much as 1.2% shortly after the U.S. said it is closing its embassy in Ukraine and moving all remaining staffers there to a city near the Polish border. The Dow Jones Industrial Average fell 0.5% and the Nasdaq composite ended essentially flat after having been up 1% in the early going. The three major stock indexes were coming off a weekly loss.


----------



## bigdog

https://apnews.com/article/russia-u...ness-economy-33d953209c8df3abb9b1968291f16673

*Stocks gain ground, oil prices fall as Ukraine tensions ease*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies led a rebound for stocks on Wall Street Tuesday as investors welcomed signs that tensions might ease over the Russian military buildup on Ukraine’s border.

The S&P 500 rose 1.6%. The gain snapped a three-day losing streak and nearly made up for all of its losses last week. The Dow Jones Industrial Average rose 1.2% and the tech-heavy Nasdaq composite climbed 2.5%.

Bond yields were mixed. U.S. crude oil futures fell, as did gold prices.

The rally came as Russia announced that some units participating in military exercises around Ukraine would begin returning to their bases. Later in the day, Russian President Vladimir Putin said Moscow is ready for talks with the United States and NATO on military transparency and other security issues. Still, President Joe Biden said Tuesday that the U.S. had not yet verified Russia’s claim of a troop drawdown.

“The anxiety retreated,” said Sam Stovall, chief investment strategist at CFRA. “It looks as if there’s still hope for a diplomatic solution.”

The S&P 500 rose 69.40 points to 4,471.07. Roughly 80% of stocks within the benchmark index notched gains. In addition to technology stocks, banks and companies that rely on consumer spending also helped lift the market.

The Dow Jones Industrial Average rose 422.67 points to 34,988.84 and the Nasdaq rose 348.84 points to 14,139.76.

Smaller company stocks outpaced the broader market. The Russell 2000 rose 55.67 points, or 2.8%, to 2,076.46.

Bond yields continued rising. The yield on the 10-year Treasury rose to 2.05% from 1.99% late Monday. The gains helped lift banks, which rely on higher bond yields to charge more lucrative interest rates on loans. JPMorgan Chase rose 1.5%.

Treasury yields have been gaining ground throughout 2022 as investors prepare for the Federal Reserve to start raising interest rates to fight inflation. The central bank is expected to start raising rates in March and traders see a 61% chance for a first hike of half a percentage point, double the traditional move.

U.S. benchmark crude oil prices slumped 3.6%. Oil prices have been volatile amid tensions over Russia potentially invading neighboring Ukraine. Russia is a major energy producer and military action that disrupts supplies could jolt markets and global industries.

European markets, which have been sensitive to tensions between Russia and Ukraine, recovered some of their losses Tuesday after Russia said it was withdrawing some troops, however analysts noted that the rebound belied some skepticism.

“While this is an encouraging development, talk tends to be cheap and so far, there has been little evidence of that happening on the ground, which perhaps helps explain why today’s rebound has been cautious, relative to recent losses,” said Michael Hewson, chief market analyst at CMC Markets UK.

The concerns on Wall Street over the potential conflict were piled on to a long list of threats for the broader financial markets and global economy that include persistently rising inflation’s impact on businesses and consumers. A report from the Labor Department on Tuesday showed that wholesale inflation surged again in January, rising 9.7% from a year earlier.

“Today is clearly a rally on less geopolitical tensions and really ignoring the inflation picture,” said John Lynch, chief investment officer for Comerica Wealth Management.

Inflationary pressure is still gathering momentum, Lynch said, and that makes a half-percentage point hike from the Fed in March almost necessary to reinforce that the central bank is serious about fighting inflation.

Rising costs have been crimping operations for a wide range of businesses and prompting many to raise prices on finished goods from clothing to food. That has raised concerns that consumers could eventually pull back on spending, therefore hurting economic growth. Investors will get an update on retail sales on Wednesday when the Commerce Department releases its January report.

Investors also have their eye on the latest round of corporate earnings, including DoorDash on Wednesday and Walmart on Thursday.


*ASX 200 expected to rebound*
The Australian share market looks set to rebound on Wednesday following a very positive night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 57 points or 0.8% higher this morning. 

Technology companies led a rebound for stocks on Wall Street Tuesday as investors welcomed signs that tensions might ease over the Russian military buildup on Ukraine’s border.

The S&P 500 rose 1.6%. The gain snapped a three-day losing streak and nearly made up for all of its losses last week. The Dow Jones Industrial Average rose 1.2% and the tech-heavy Nasdaq composite climbed 2.5%.


----------



## bigdog

https://apnews.com/article/russia-u...cial-markets-fad4066e53ed45305a3c603236b0eeb2

*Stocks end mixed as traders parse next rate move by the Fed*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks shook off an early slump and ended mixed on Wall Street Wednesday after minutes from the Federal Reserve’s latest policy meeting showed policymakers still leaning toward moving decisively to fight inflation.

Trading was choppy following the midafternoon release of the Fed minutes. The S&P 500 wound up 0.1% higher after having been down 0.9% in the early going. The Dow Jones Industrial Average slipped 0.2% and the Nasdaq composite fell 0.1%.

Treasury yields bounced around a bit as traders tried to parse the latest update from the Fed. The 10-year Treasury yield ended up at 2.03%, just below where it was late Tuesday.

Wall Street has been looking for clues about how much and how quickly the central bank will begin raising interest rates. Traders see a 44% chance for a first hike in March of half a percentage point, double the traditional move.

In their discussion of the outlook for monetary policy, most Fed policymakers suggested that a faster pace of increases in the central bank’s benchmark short-term interest rate than what the Fed followed after its last rate hikes in 2015 “would likely be warranted, should the economy evolve generally in line with the Committee’s expectation.”

Policymakers also noted during the meeting that it would be appropriate for the Fed to make “a significant reduction” in the size of its balance sheet.

“In markets, timing is everything, and the delayed reaction from the Fed has investors convinced that aggressive policy tightening is on the horizon,” said Charlie Ripley, senior investment strategist for Allianz Investment Management.

The S&P 500 rose 3.94 points to 4,475.01. The benchmark index was coming off a broad rally on Tuesday that snapped a three-day losing streak. The Dow fell 54.57 points to 34,934.27, while the Nasdaq lost 15.66 points to 14,124.09.

Small-company stocks rose. The Russell 2000 gained 2.85 points, or 0.1%, to 2,079.31.

Gains in energy stocks, retailers and other companies that rely on consumer spending accounted for much of the S&P 500′s modest rise, keeping losses in the technology and communications sectors in check.

Most Fed officials agreed during their meeting last month that faster interest rate hikes would be needed “if inflation does not move down” as the central bank’s policymaking committee expects. As recently as December, Fed officials forecast that inflation, based on their preferred measure, would fall to an annual rate of 2.6%. It is currently 5.8%.

But Fed policymakers differ on how quickly to raise rates. On Monday, James Bullard, president of the Federal Reserve Bank of St. Louis, repeated his call for the Fed to take the aggressive step of raising its benchmark short-term rate by a full percentage point by July 1. Esther George, president of the Kansas City Fed, expressed support for a more “gradual” approach. And Mary Daly of the San Francisco Fed declined to commit herself to more than a modest rate hike next month.

Most analysts expect Fed officials to raise that forecast at their next meeting, in mid-March, to reflect the acceleration of consumer prices. Inflation has reached its highest pace in four decades, hammering household budgets and wiping out the benefit of rising wages.

Rising inflation has been crimping profits and revenue for businesses in a wide range of industries. Many companies have been raising prices to offset the costs, including cereal maker Kellogg. That has raised concerns that consumers could eventually pull back spending, though the latest report from the Commerce Department shows that retail sales remained strong in January as the threat of the omicron variant of COVID-19 faded.

The government reported Wednesday that retail sales surged 3.8% last month, whizzing past the projections of most economists. That compared to the prior month when sales slid 2.5%.

Investors brushed off the encouraging retail sales data, but the results and other solid economic updates remain reassuring for the bigger economic picture as the Fed starts tightening its interest rate policy,” said Liz Ann Sonders, chief investment strategist at Charles Schwab.

“The Fed is moving, period,” she said. “That’s happening no matter what, so it’s better if along the way you have economic data that remains resilient.”

The potential for an escalating conflict between Russia and Ukraine has also been a key concern for investors this week. Broader markets rallied on Tuesday after Russia claimed to remove some of its troops amassed on the Ukraine border. Tensions still remain high as officials from NATO and the West cast doubt on those claims.

Energy prices have been particularly volatile so far this week. Russia is a major energy producer and a military conflict could disrupt supplies and jolt markets. U.S. benchmark crude oil prices rose 1.7%, reversing course from a 3.6% slump on Tuesday. Energy stocks gained ground on the reversal. ConocoPhillips rose 0.6%.

Wall Street is also monitoring the latest corporate earnings reports to gauge how companies are handling supply chain problems and pressure from rising inflation.

Airbnb rose 3.6% after reporting strong financial results and giving investors an encouraging revenue forecast. Walmart will report its results on Thursday.

ASX 200 to open lower​ The Australian share market looks set to give back some of yesterday’s gains on Thursday following a subdued night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 9 points or 0.1% lower this morning. 

Stocks shook off an early slump and ended mixed on Wall Street Wednesday after minutes from the Federal Reserve’s latest policy meeting showed policymakers still leaning toward moving decisively to fight inflation.

Trading was choppy following the mid-afternoon release of the Fed minutes. The S&P 500 wound up 0.1% higher after having been down 0.9% in the early going. The Dow Jones Industrial Average slipped 0.2% and the Nasdaq composite fell 0.1%.


----------



## bigdog

https://apnews.com/article/russia-u...arkets-japan-41798a8891e12a33bf2a12b7f66fe291

*Ukraine tensions send US stocks and bond yields lower*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks and bond yields fell sharply Thursday on Wall Street as escalating worries over the possibility that Russia may invade Ukraine rattled global financial markets.

The S&P 500 fell 2.1%, its biggest drop in two weeks and first decline in three days. The Dow Jones Industrial Average fell more than 600 points and the Nasdaq composite slid 2.9%. The losses wiped out the major indexes’ weekly gains.

About 85% of the stocks in the benchmark S&P 500 closed lower. The technology sector was the biggest drag on the index, along with communication stocks and companies that rely on consumer spending. Microsoft fell 2.9%, Facebook parent Meta slid 4.1% and Nike fell 2.5%.

Bond yields fell and dragged banks lower. The yield on the 10-year Treasury fell to 1.97% from 2.04% late Wednesday. Bank of America slid 3.4%.

Markets in Europe, which have been particularly sensitive to tensions in Ukraine, closed broadly lower.

The wave of selling came as President Joe Biden warned that Russia, which is believed to have built up some 150,000 military forces near Ukraine’s borders, could invade within days. Dignitaries raced for solutions but suspicions between East and West only seemed to grow, as NATO allies rejected Russian assertions it was pulling back troops from exercises that had fueled fears of an attack.

“We’re still at this level of inflation that is high and concerning,” said Tom Martin, senior portfolio manager with Globalt Investments. “Add on to that the uncertainty of what’s going on in Russia and Ukraine and you have some folks who just want to sit it out.”

The S&P 500 fell 94.75 points to 4,380.26. The index is now 8.7% below the all-time high it set on Jan. 3. The Dow slid 622.24 points, or 1.8%, to 34,312.03, while the tech-heavy Nasdaq lost 407.38 points to 13,716.72.

Small company stocks also fell broadly. The Russell 2000 index gave up 51.22 points, or 2.5%, to 2,028.09.

Markets have been unsettled all week by tensions in Ukraine, and the potential for a military conflict in Europe has made for volatile trading in energy markets. Russia is a major energy producer and a military conflict could disrupt supplies and jolt markets. U.S. crude oil prices fell 2%, while the price of natural gas fell 4.9%.

If Russia invades Ukraine and the U.S. and the West respond with economic sanctions, that could impede access to about 7% of the global energy market, Martin said.

The price of gold, traditionally a safe haven during geopolitical uncertainty, rose 1.6%.

The tensions over Ukraine have only added to worries investors face as the Federal Reserve prepares to raise interest rates to fight persistently rising inflation.

Wall Street has been looking for clues about how much and how quickly the central bank will begin raising interest rates. The minutes from the latest meeting of Fed officials released on Wednesday showed that most policymakers suggested that a faster pace of increases in the benchmark short-term interest rate “would likely be warranted.”

Inflation has spiked to a 40-year high and companies have been dealing with supply chain problems and higher costs by raising prices on finished goods for consumers. Many have also warned investors that profits, sales and overall operations will still be hurt by inflation.

The move to raise prices on goods has heightened concerns that consumers could eventually pull back spending, which could damage economic growth. Consumers haven’t pulled back yet, though, according to latest report from the Commerce Department showing that retail sales surged 3.8% in January as the threat of the omicron variant of COVID-19 faded.

Wall Street is also reviewing the latest round of corporate report cards. Walmart, the world’s largest retailer, rose 4% after reporting strong fourth-quarter financial results. Cisco Systems, which makes routers, gained 2.8% after raising its profit forecast for the year.

ASX 200 expected to sink​
Unfortunately, the Australian share market looks set to end the week in the red after Russian-Ukraine tensions weighed on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 58 points or 0.8% lower this morning. 

Stocks and bond yields fell sharply Thursday on Wall Street as escalating worries over the possibility that Russia may invade Ukraine rattled global financial markets.

The S&P 500 fell 2.1%, its biggest drop in two weeks and first decline in three days. The Dow Jones Industrial Average fell more than 600 points and the Nasdaq composite slid 2.9%. The losses wiped out the major indexes’ weekly gains.


----------



## bigdog

https://apnews.com/article/russia-u...s-asia-tokyo-206f74a9ef60fb663655dcc1aab373b7

*Stocks fall again, handing Wall Street another losing week*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks capped a week of volatile trading on Wall Street with a broad sell-off Friday that left the major indexes with their second straight weekly loss.

The selling lost some momentum into the afternoon, but the intensified again in the final hour of trading. The S&P 500 and the Dow Jones Industrial Average each fell 0.7%. The Nasdaq composite bore the brunt of the selling, however, shedding 1.2%.

Treasury yields fell as investors shifted money into the safety of U.S. bonds. The yield on the 10-year Treasury, which affects rates on mortgages and other consumer loans, fell to 1.93% from 1.97%.

Markets have been turbulent all week as investors watch the latest developments in Ukraine, where Russia has been amassing troops on the border. The tensions are yet another concern for investors as they try to determine how the economy will react to rising inflation and looming interest rate hikes.

“Investors are facing geopolitical risks, Fed tightening and peak valuations,” said Peter Essele, head of portfolio management for Commonwealth Financial Network. “Anytime you get that kind of trifecta scenario, you’re going to see volatility.”

And then there’s the uncertainty of what could happen in Ukraine during this holiday weekend, with U.S. markets scheduled to be closed Monday in observance of President’s Day.

“You’re heading into a long weekend with no resolution on Russia or Ukraine, so you have some people just going to the sidelines a little bit,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management.

The S&P 500 fell 31.39 points to 4,348.87. The benchmark index is now 9.3% below its all-time high set on Jan. 3.

The Dow fell 232.85 points to 34,079.18 and the Nasdaq gave up 168.65 points to 13,548.07. Small company stocks also fell, pulling the Russell 2000 index down 18.76 points, or 0.9%, to 2,009.33.

Tensions over Russia and Ukraine have been growing all week, throwing a curveball to markets that have been more focused on inflation, central banks’ monetary policy and economic growth. The U.S. has issued some of its starkest, most detailed warnings yet about how a Russian invasion of Ukraine might unfold, and its Western allies went on high alert for any attempts by the Kremlin to create a false pretext for a new war in Europe.

Russia is a major energy producer and a military conflict could disrupt energy supplies and make for extremely volatile energy prices.

Inflation remains a key concern for Wall Street as companies continue facing supply chain problems and higher costs, prompting warnings that operations will suffer through some or all of 2022. General Electric fell 5.9% after it warned that pressure from inflation and supply chain problems have hurt several of its businesses including healthcare, renewable energy and aviation. It expects the problems to persist through at least the first half of the year.

Video streaming company Roku slumped 22.3% after giving investors a weak revenue forecast and warning about persistent supply chain problems.

Weakness from several big technology stocks, which have more weight on indexes because of their size, helped pull the broader market lower. Intel fell 5.3%.

Retailers and travel-related companies also lost ground. Amazon shed 1.3% and Royal Caribbean fell 1.7%

Companies viewed as less risky investments, such as utilities, held up better than the rest of the market.

Investors remain focused on the Federal Reserve and its plan to raise interest rates in order to fight rising inflation. The latest minutes from a meeting of policymakers from the Fed confirmed that the central bank intends to move decisively to fight inflation with higher interest rates. Wall Street is trying to look ahead to determine how a more aggressive monetary policy from the Fed will impact markets, especially after years of ultra-low interest rates more supportive policies.

Federal Reserve Bank of New York President John Williams said Friday that the central bank should start raising interest rates next month to help rein in too-high inflation. But he added that the rate hikes may not have to begin with as big a bang as some have suggested.

“Personally, I don’t see any compelling argument to take a big step at the beginning,” Williams said following an event at New Jersey City University to discuss the economy and interest rates.


----------



## Garpal Gumnut

It is George Washington's Birthday tomorrow and the US markets will be closed.

So the ASX will be winging it for two trading days not one as usual. 

gg


----------



## bigdog

ASX 200 expected to fall again​The Australian share market looks set to start the week in the red following a poor finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 51 points or 0.7% lower this morning.

On Wall Street, the Dow Jones fell 0.7%, the S&P 500 dropped 0.7%, and the Nasdaq tumbled 1.2%.



Garpal Gumnut said:


> It is George Washington's Birthday tomorrow and the US markets will be closed.
> 
> So the ASX will be winging it for two trading days not one as usual.
> 
> gg




GG, thank you for pointing out the NYSE Washington's Birthday on Monday, February 21


----------



## bigdog

*NYSE markets closed for Washington's Birthday on Monday, February 21*


https://apnews.com/article/russia-u...lth-business-281f62598d89f1b1f6a7dd06a1c319c0

*World shares mixed as investors eye Ukraine, inflation*

By ELAINE KURTENBACH

World shares were mixed Monday as investors watched for developments in Ukraine after Russia rescinded earlier pledges to pull tens of thousands of its troops away from Ukraine’s northern border.

U.S. markets will be closed for a holiday but futures were higher. Shares rose in early European trading but fell in most Asian markets.

The White House said President Joe Biden had agreed “in principle” to meeting with Russian President Vladimir Putin if he refrains from launching an assault that U.S. officials say appears increasingly likely.

Russia’s decision extended military exercises that brought an estimated 30,000 Russian forces to Belarus, Ukraine’s northern neighbor. They had been due to end Sunday. The troops are among some 150,000 deployed along Ukraine’s borders, along with tanks, warplanes, artillery and other war materiel.

The concern that Russian troops could descend on the Ukrainian capital, Kyiv, a city of about 3 million people less than a three-hour drive away, has added to uncertainties for investors already jittery over central bank strategies to combat inflation.

Russia is a major energy producer and a military conflict also could disrupt energy supplies and make for extremely volatile energy prices.

Germany’s DAX gained 0.5% to 15,111.84 and the CAC 40 in Paris edged 0.2% higher. Britain’s FTSE 100 added 0.3% to 7,538.08. The future for the S&P 500 climbed 0.3% while that for the Dow industrials added 0.4%.

Markets are on “tenterhooks,” Mizuho Bank said in a commentary. But it added, “relief rallies appear to be emerging; drawing comfort from Presidents Biden and Putin having ‘accepted the principle’ of a summit; conditional upon Russia not invading Ukraine.”

Tokyo’s Nikkei 225 index lost 0.8% to 26,910.87, while the Hang Seng in Hong Kong shed 0.7% to 24,170.07. In Seoul, the Kospi gave up less than 1 point to 2,743.80. The Shanghai Composite index was unchanged at 3,490.61. India’s Sensex lost 0.4% and Thailand’s benchmark was 0.7% lower.

Australia’s S&P/ASX 200 gained 0.2% to 7,233.60 as the country reopened its borders to more international travel after nearly two years of being mostly sequestered due to the pandemic.

Vaccinated travelers were greeted at Sydney’s airport by jubilant well-wishers waving toy koalas and favorite Australian foods including Tim Tams chocolate cookies and jars of Vegemite spread.

Outbreaks of coronavirus fueled by the highly contagious omicron variant are also a worry. A preliminary reading on factory data for Japan on Monday showed a sharp drop in the manufacturing purchasing manager’s index, to 52.9 from 55.4 on a 0-100 scale where readings above 50 indicate expansion.

But analysts said they expect activity to rebound as the latest wave of infections subsides.

In Australia, shares in AGL, the country’s biggest electricity generator, jumped 10% after it said it had rejected an 8 billion Australian dollar ($5.8 billion) takeover bid from tech billionaire Mike Cannon-Brookes and Canadian investment firm Brookfield.

Shares in software company Atlassian, founded by Cannon-Brookes, fell 2%.

On Friday, stocks capped a week of volatile trading on Wall Street with a broad sell-off.

The S&P 500 and Dow Jones Industrial Average both slipped 0.7%. The Nasdaq composite bore the brunt of the selling, skidding 1.2%.

Small company stocks also fell, with the Russell 2000 index down 0.9%.

Treasury yields fell Friday, as investors shifted money into the safety of U.S. bonds. The yield on the 10-year Treasury, which affects rates on mortgages and other consumer loans, was steady at 1.93% early Monday.

Markets have been rocked by worries over how companies will cope with inflation at decades-high levels in many countries, and over whether consumers might pull back on spending to cope with higher costs.

Wall Street is looking ahead to determine how markets will react to a more aggressive monetary policy from the U.S. Federal Reserve as it begins tightening after two years of ultra-low interest rates and other supportive measures.

In other trading Monday, U.S. benchmark crude oil lost 15 cents to $90.06 per barrel in electronic trading on the New York Mercantile Exchange. It gained 17 cents to $90.21 on Friday.

Brent crude, the international pricing standard, gained 12 cents to $93.66 per barrel.

The U.S. dollar slipped to 114.86 Japanese yen from 115.12 yen late Friday. The euro rose to $1.1362 from $1.1324.

ASX 200 futures pointing lower​The Australian share market is expected to open the day sharply lower this morning following a poor start to the week in Europe. According to the latest SPI futures, the ASX 200 is poised to open the day 74 points or 1% lower. 

In Europe, the DAX dropped 3%, the CAC fell 2%, and the FTSE lost 0.4%. 


*Wall Street was closed on Monday for the President’s Day holiday.*






*Rest of World Trading Monday*


----------



## bigdog

https://apnews.com/article/russia-u...tokyo-europe-e6b1a6678833d81272b2dd7b130aa25a

*Stocks slide further amid Ukraine crisis; S&P in correction*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed broadly lower Tuesday after Russia sent forces into Ukraine’s eastern region and the U.S., European Union and U.K. responded with economic sanctions. The rising geopolitical tensions kept financial markets on edge, pulling the S&P 500 into a correction — Wall Street speak for a drop of at least 10% from its recent peak — for the first time in more than three years.

The benchmark index fell 44.11 points, or 1%, to 4,304.76. That puts it 10.3% below the all-time high it set on Jan. 3. The last correction for the index was in December 2018. The Dow Jones Industrial Average and Nasdaq composite also lost more than 1%.

“We’re overdue, and right now the market has been knocked for a loop from the one-two punch of higher interest rates plus geopolitical tensions,” said Sam Stovall, chief investment strategist at CFRA.

The latest losses come as investors closely watched the crisis in Ukraine a day after Russia recognized the independence of several regions in Eastern Ukraine and decided to send in forces. On Tuesday afternoon, President Joe Biden announced the U.S. was ordering heavy financial sanctions against Russian banks and oligarchs, declaring that Moscow has flagrantly violated international law by invading Ukraine. Biden also said the U.S. was moving additional troops to the Baltic states on NATO’s eastern flank.

Earlier in the day, the 27 European Union members unanimously agreed to levy their own initial set of sanctions targeting Russian officials over their actions in Ukraine.

U.S. crude oil prices jumped 1.4% after earlier rising more than 3% as energy markets remained volatile. European natural gas prices jumped after Germany withdrew a key document needed for certification of the Nord Stream 2 gas pipeline from Russia.

European stock markets, which have been particularly sensitive to developments in the Russia-Ukraine crisis, closed mostly lower.

The Dow Jones Industrial Average fell 482.57 points, or 1.4%, to 33,596.61. The blue chip index had been down more than 700 points in the early going. The Nasdaq slid 166.55 points, or 1.2%, to 13,381.52.

Home Depot was the biggest weight on the Dow and the biggest decliner in the S&P 500. It slumped 8.9% as concerns over the home-improvement retailer’s profit margins outweighed an otherwise solid quarterly financial report.

Technology stocks, which have an outsized impact on market indexes because of their pricey valuations, also weighed heavily on the S&P 500. Apple shed 1.8%.

Small company stocks fared worse than the broader market. The Russell 2000 index fell 29.16 points, or 1.5%, to 1,980.17.

Bond yields rose. The yield on the 10-year Treasury rose to 1.93% from 1.92% late Friday. Stock and bond markets were closed on Monday for the Presidents Day holiday.

The crisis in Ukraine is yet another concern for investors who have begun 2022 trying to determine how the economy will fare amid rising inflation and looming interest rate hikes. Companies face supply chain problems and higher raw materials costs as demand for goods outpaces supply. The Federal Reserve plans on raising interest rates to combat inflation, but Wall Street is uncertain about how the number of rate hikes and their frequency will impact the broader market and economy.

Investors also focused on the latest round of corporate report cards, especially from department stores. Shares in Macy’s and Dillard’s initially rose after reporting solid quarterly results, but ultimately shed their gains. Macy’s fell 5% and Dillard’s slid 4.4%.

Mattress maker Tempur Sealy International fell 19.4% after reporting disappointing financial results.

Deal making also helped lift several stocks. Television station owner Tegna rose 7.1% following a report that it’s being bought by Standard General. Book publisher Houghton Mifflin Harcourt rose 15% on news it’s being bought by Veritas Capital.

ASX 200 expected to fall again​The Australian share market looks set to fall again on Wednesday following a tough night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 15 points or 0.2% lower this morning. 

Stocks closed broadly lower Tuesday after Russia sent forces into Ukraine’s eastern region and the U.S., European Union and U.K. responded with economic sanctions. The rising geopolitical tensions kept financial markets on edge, pulling the S&P 500 into a correction — Wall Street speak for a drop of at least 10% from its recent peak — for the first time in more than three years.

The benchmark S&P index fell 44.11 points, or 1%, to 4,304.76. That puts it 10.3% below the all-time high it set on Jan. 3. The last correction for the index was in December 2018. The Dow Jones Industrial Average and Nasdaq composite also lost more than 1%.


----------



## bigdog

https://apnews.com/article/russia-u...tock-markets-3c8fdbbf3429e70823eeff74acd04b5f

*Wall Street losses mount amid simmering Ukraine crisis*

By DAMIAN J. TROISE and ALEX VEIGA

Wall Street’s losses mounted Wednesday as world leaders waited to see if Russian President Vladimir Putin orders troops deeper into Ukraine.

The S&P 500 fell 1.8% to an 8-month low, deepening the benchmark index’s “correction,” or a loss of 10% from its recent peak. More than 85% of stocks in the S&P 500 fell, with technology companies weighing down the index most.

The technology-heavy Nasdaq lost 2.6% led by steep losses in Apple and Microsoft. The Dow Jones Industrial Average fell 1.4%.

U.S. Treasury yields inched higher, as did gold prices.

Wall Street has been closely watching developments in Ukraine, where Russia has amassed troops for a new potential invasion. Russia has started evacuating its embassy in Kyiv. It has already sent soldiers into eastern regions of Ukraine after recognizing the independence of some rebel-held areas.

The U.S. and western nations have responded with sanctions and Germany withdrew a document needed for certification of the Nord Stream 2 gas pipeline from Russia. The tensions have made energy prices volatile as any conflict between Russia and Ukraine disrupt supplies.

The latest losses added to Tuesday’s slump and the S&P 500′s slide into a correction. The index had its last correction in the spring of 2020, as the pandemic upended the global economy. That correction worsened into a bear market — a decline of 20% or more — as the S&P 500 sank nearly 34% in about a month.

“We are clearly, solidly in correction territory at this point,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab. “We need some kind of positive news, and there really isn’t a whole lot right now.”

The S&P 500 fell 79.26 points to 4,225.50. It’s now 11.9% below the record high it set Jan. 3.

The Dow dropped 464.85 points to 33,131.76, while the Nasdaq slid 344.03 points to 13,037.49. The index is now 18.8% below its November 2021 high.

Small company stocks also lost ground. The Russell 2000 index fell 36.08 points, or 1.8%, to 1,944.09.

Technology stocks led the broad losses. Microsoft and Apple fell 2.6%. The sector has an outsized influence on the S&P 500 because of Big Tech companies’ high valuations.

Retailers and other companies that rely on direct consumer spending also weighed on the market. Amazon fell 3.6% and Starbucks shed 3.7%.

U.S. crude oil prices remained volatile, though energy stocks gained ground. Chevron rose 2.4%.

Bond yields edged higher. The yield on the 10-year Treasury rose to 1.98% from 1.95% late Tuesday.

The potential for a war in eastern Europe has only added to the concerns investors had about the global economy. Stocks have been slipping in 2022 as investors gauge how rising inflation will impact economic growth and whether the Federal Reserve’s plan to raise interest rates this year will cool inflation.

Wall Street is also still reviewing how companies are dealing with supply chain problems and higher costs in their latest round of corporate report cards.

Lowe’s rose 0.2% after raising its profit forecast for the year following a strong fourth-quarter financial report. Security software maker Palo Alto Networks rose 0.4% after raising its profit forecast on strong demand for cybersecurity.

TJX, the parent of T.J. Maxx and Marshalls, fell 4.2% after reporting disappointing fourth-quarter financial results.

ASX 200 to open deep in the red​ The Australian share market looks set to give back all of yesterday’s gains following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 74 points or 1% lower this morning. 

Wall Street’s losses mounted Wednesday as world leaders waited to see if Russian President Vladimir Putin orders troops deeper into Ukraine.

The S&P 500 fell 1.8% to an 8-month low, deepening the benchmark index’s “correction,” or a loss of 10% from its recent peak. More than 85% of stocks in the S&P 500 fell, with technology companies weighing down the index most.

The technology-heavy Nasdaq lost 2.6% led by steep losses in Apple and Microsoft. The Dow Jones Industrial Average fell 1.4%.


----------



## bigdog

https://apnews.com/article/russia-u...-russia-asia-bdc394cc724018f570856fb33f2889b4

*Wall Street reels, then recovers after invasion of Ukraine*

By STAN CHOE

Markets shuddered Thursday and then swung wildly after Russia’s invasion of Ukraine threatened to push the high inflation squeezing the global economy even higher.

Initially, stocks tumbled as prices surged for oil, wheat and other commodities on worries the conflict would disrupt global supplies. But the moves moderated as the day progressed, particularly after President Joe Biden said he wanted to limit the economic pain for Americans and announced new sanctions that fell short of what some had suggested.

On Wall Street, the S&P 500 tumbled 2.6% at the start of trading before erasing the drop and flipping to a gain of 1.5%. The heaviest losses hit stocks in Europe, after officials called Russia’s nearby moves a “brutal act of war,” with the German DAX down 4%.

Beyond its tragic human toll, the conflict looked set to send prices even higher at gasoline pumps and grocery stores around the world. Russia and Ukraine are major producers not only of energy but also grains and various other commodities.

Oil prices on both sides of the Atlantic briefly jumped above $100 per barrel to their highest levels since 2014. But they gave back much of their gains after Biden said the sanctions package is “specifically designed to allow energy payments to continue.” While he described the sanctions as severe, Ukrainian officials urged the U.S. and West to go further and cut Russia from a crucial financial payments system called SWIFT.

Afterward, the price of U.S. oil settled at $92.81, up 71 cents for the day, well below the $100.54 it had touched earlier in the day.

Still, prices rose for everything from heating oil to wheat to gasoline. As with stocks, the movements were sharper in Europe than in the U.S. because its economy is more closely tied to Russia and Ukraine. The spot price in Europe for natural gas jumped more than 50%.

Increases in energy and food prices could amplify worries about inflation, which in January hit its hottest level in the United States in a couple generations, and what the Federal Reserve will do in turn to rein it in.

The Fed looks certain to raise rates for the first time since 2018, with the only question being how quickly and how aggressively it will move, starting next month.

In the past, the Fed has sometimes delayed big policy decisions amid uncertainty about the Kosovo war and the U.S. invasion of Iraq, for example, according to Goldman Sachs. But economists at the bank say they still expect the Fed to raise rates steadily at its upcoming meetings.

The Ukraine tensions probably just make it less likely the Fed will start the process with a bigger-than-usual increase in rates, something some Fed officials had recently suggested.

“The Fed may become more worried about the impact on economic growth and will probably want to tread more cautiously,” said Kristina Hooper, chief global market strategist at Invesco.

The Fed was already saddled with the delicate task of raising interest rates enough to stamp out high inflation but not so much as to choke the economy into a recession. Strategists at Evercore ISI said that risk still remains, and has become even more complicated by the attack on Ukraine, but that it’s “substantially greater in Europe relative to the US.”

Many investors also said that past global events, such as an invasion, have had only short-term effects on markets that last a few weeks or months.

With expectations falling for a bigger-than-usual increase in rates next month, stocks that tend to benefit the most from low interest rates led the way for indexes to pare their losses through the day. That put the spotlight on big tech stocks, and Amazon, Microsoft and Nvidia all rose 4.5% or more.

That helped the Nasdaq composite swing from a 3.4% loss in the morning to a 3.3% gain by the end of the day, rising 436.10 points to 13,473.59. It was a remarkable turnaround after the Nasdaq during the morning was on on track to close 20% below its record high for the first time since the coronavirus collapsed the economy in 2020.

The Dow Jones Industrial Average, which isn’t as influenced by big tech stocks, rose a more modest 92.07 points, or 0.3%, to 33,223.83. It rallied back from an earlier 859-point loss. The S&P 500 rose 63.20 points to 4,288.70.

Huge swings also rocked the bond market, where yields initially sank as investors moved into assets that looked to offer safer returns than stocks. But yields recovered through the day, and the 10-year Treasury yield was 1.96% in late trading, close to the 1.97% it was at late Wednesday.

The FTSE 100 in London fell 3.9% after Europe awakened to news of explosions in the Ukrainian capital of Kyiv, the major city of Kharkiv and other areas. The CAC 40 in Paris lost 3.8%. Markets in Asia fell nearly 2% or more.

Moscow’s stock exchange briefly suspended trading on all its markets on Thursday morning. After trading resumed, Russian indexes plunged by a third or more.

“How bad could this get? Well, how long is a piece of string, right?” said Jonas Goltermann, senior global markets economist at Capital Economics. “There aren’t that many obvious examples of this type of shock to markets.”

ASX 200 expected to rise​ The Australian share market looks set to end the week with a small gain after US markets reversed their declines. According to the latest SPI futures, the ASX 200 is expected to open the day 12 points or 0.2% higher this morning.

Markets shuddered Thursday and then swung wildly after Russia’s invasion of Ukraine threatened to push the high inflation squeezing the global economy even higher.

Initially, stocks tumbled as prices surged for oil, wheat and other commodities on worries the conflict would disrupt global supplies. But the moves moderated as the day progressed, particularly after President Joe Biden said he wanted to limit the economic pain for Americans and announced new sanctions that fell short of what some had suggested.

On Wall Street, the S&P 500 tumbled 2.6% at the start of trading before erasing the drop and flipping to a gain of 1.5%. The heaviest losses hit stocks in Europe, after officials called Russia’s nearby moves a “brutal act of war,” with the German DAX down 4%.


----------



## bigdog

https://apnews.com/article/russia-u...ope-shanghai-fb50fd3b1e52ed2b753e4b90d795e09a

*Stocks up, fear down on Wall Street despite Ukraine invasion*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped a turbulent week of trading Friday with a broad rally for stocks as relief flowed through the market, even as deadly attacks raged in Ukraine. Oil fell and investors turned away from gold and other traditional havens they favor when fear is high.

The S&P 500 climbed 2.2% and notched its first weekly gain in three weeks. The benchmark index was following up on a wild Thursday when it careened from a 2.6% loss to a gain of 1.5%. Stocks have swung sharply with uncertainty about how much Russia’s invasion will push up inflation, particularly oil and natural gas prices, and drag on the global economy.

Such big swings are likely to continue, with so much uncertainty not only about Ukraine but also about interest rates. The Federal Reserve is caught in a delicate dance where it has to raise interest rates enough to rein in high inflation but not so much as to cause a recession.

On Friday, at least, the mood was calmer. A measure of fear on Wall Street, which shows how worried traders are about upcoming swings in stock prices, fell 9%. Gold dropped 2% after rallying for weeks on worries about Russia and Ukraine. Treasury yields held relatively steady, signaling investors weren’t scrambling for safety as they had immediately after Russia’s invasion.

“The market acts emotionally when these things happen because it is so difficult to model,” said Mark Hackett, chief of investment research at Nationwide.

A U.S. government report showed that that inflation last month was roughly in line with economists’ expectations, though it was still high. It also showed the main engine of the U.S. economy, spending by consumers, strengthened by more than economists expected.

“Lost in a lot of focus on Russia, the Federal Reserve and inflation is the fact that the economy is in a fairly strong position,” Hackett said.

The economic reports could be enough to convince the Federal Reserve to hold off on raising short-term rates next month by double its usual increase, at least for now, said Brian Jacobsen, senior investment strategist at Allspring Global Investments. That’s something some Fed officials had suggested, and it’s something investors usually fear because higher rates put downward pressure on all kinds of investments. Whatever size it is, the rate increase would be the first since 2018.

All the renewed calm in global financial markets, though, was against the backdrop of Russia pressing its invasion of Ukraine to the outskirts of the capital Friday after unleashing airstrikes on cities and military bases and sending in troops and tanks from three sides in what amounts to the largest ground conflict in Europe since World War II.

Still, investors may have been encouraged by looking at how past geopolitical crises, including wars, have affected the stock market. Generally, stocks are initially put under pressure before conflict breaks out, but then they tend to recover between three and six months later, said Zachary Hill, head of portfolio management at Horizon Investments.

Hill said the turning point for the market this week came as investors judged the U.S. sanctions on Russia to be less severe than expected.

“The sanctions were not as bad as feared,” he said.

The S&P 500 rose 95.95 points to 4,384.65. The Dow Jones Industrial Average rose 834.92 points, or 2.5%, to 34,058.75. The Nasdaq composite gained 221.04 points, or 1.6%, to 13,694.62 after swinging between modest gains and losses. A day earlier, it briefly fell more than 20% below its record high, before roaring back suddenly.

Smaller company stocks also notched gains. The Russell 2000 index rose 44.92 points, or 2.3%, to 2,040.923.

Prices for everything from stocks to Bitcoin have been swinging sharply with the uncertainty about Russia and Ukraine, but the market’s brightest spotlight has perhaps been on oil and natural gas. Russia is one of the world’s largest producers of both oil and gas, and European consumers are particularly reliant on it.

Oil prices fell on both sides of the Atlantic, a day after they briefly topped $100 per barrel amid worries that the conflict and upcoming sanctions could disrupt supplies. Benchmark U.S. crude slipped 1.3% to $91.59 per barrel. Brent crude, the international standard, fell 1.2% to $97.93.

When announcing sanctions on Russia that he described as tough on Thursday, President Joe Biden said that he will “do everything in my power to limit the pain the American people are feeling at the gas pump.” That led to some relief that sanctions were not as severe as they could have been, and the drop in oil prices helped to lift stocks.

“We’re not going to do anything which causes an unintended disruption to the flow of energy, as the global economic recovery is still underway,” Deputy National Economic Council Director Daleep Singh said Thursday.

Stocks also rose across much of Europe and Asia Friday, recovering some of their sharp losses from immediately after Russia’s invasion. London’s FTSE 100 gained 3.9% while France’s CAC 40 rose 3.6% and Germany’s DAX rose 3.7%.

Market players might be betting that the crisis could slow moves by central banks to cool inflation by raising interest rates and unwinding other support for pandemic-burdened economies, said Ipek Ozkardeskaya of Swissquote Bank SA.

“But in reality, it’s about volatility, high volatility that results from a high-voltage environment,” Ozkardeskaya wrote in a commentary. “It’s impossible to tell what direction the market will take in the next five minutes.”


----------



## bigdog

ASX 200 expected to surge higher​The Australian share market looks set to start the week on a very positive note following a strong finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day a massive 166 points or 2.4% higher this morning. 

On Wall Street, the Dow Jones jumped 2.5%, the S&P 500 climbed 2.25%, and the Nasdaq rose 1.6%.


----------



## bigdog

https://apnews.com/article/russia-u...s-japan-asia-a97accbad0c72f21bdbecb863ab33be5

*Swings return to Wall Street, oil up after Russia sanctions*

By STAN CHOE and ALEX VEIGA

Markets quivered Monday amid worries about how high oil prices will go and how badly the global economy will get hit after the U.S. and allies upped the financial pressure on Russia for its invasion of Ukraine.

Stocks swung up and down several times, leaving the major indexes mixed. Investors herded into bonds in search of safety, pushing yields sharply lower, and the value of the Russian ruble plunged to a record low.

The S&P 500, which had been down as much as 1.6%, recouped much of its losses to finish 0.2% lower. The Dow Jones Industrial Average fell 0.5% and the Nasdaq composite rose 0.4% after coming back from a 1.1% slide.

The volatile trading followed Western allies’ move over the weekend to block some Russian banks from a key global payments system. The U.S. Treasury Department also announced new and powerful sanctions against Russia’s central bank.

The Biden administration said Germany, France, the UK, Italy, Japan, European Union and others will join the U.S. in hitting Russia’s central bank, which said the Moscow stock exchange would remain closed Monday.

Stocks on Wall Street trimmed their losses through the morning, at one point flipping to modest gains, after big tech stocks and others that benefit most from low interest rates rallied. The war in Ukraine is raising expectations that the Federal Reserve may have to take it more slowly in its campaign to raise interest rates in order to fight inflation.

Other markets showed more fear about the rising antagonism between Russia and the U.S. and its allies.

Oil prices on both sides of the Atlantic climbed more than 3% amid concerns about what will happen to crude supplies, because Russia is one of the world’s largest energy producers. That’s increasing the pressure on the already high inflation squeezing households around the world.

In search of safer returns, investors plowed into U.S. government bonds, which drove the yield of the 10-year Treasury down about 0.15 percentage points to 1.83%, its biggest drop since the omicron coronavirus variant first rattled investors. Gold rose 0.7%.

The gyrations are just the latest sharp swings for markets, which were relaxing in relief just on Friday, in part on thoughts that sanctions against Russia weren’t as severe as they could have been. More sharp turns are likely in the hours and days ahead given all the uncertainty about the war.

“Right now the situation is fluid and investors are looking for the next shoe to drop,” said Barry Bannister, chief equity strategist at Stifel.

The pressure on Russia isn’t coming only from governments. London-based energy giant BP said Sunday it would dump its investment in Rosneft, a Russian energy company. BP has held a nearly 20% stake in Rosneft since 2013, and its shares listed in London fell 3.9%.

The S&P 500 fell 10.71 points to 4,373.94. The Dow, which had dropped 589 points, ended down 166.15 points to 33,892.60. The Nasdaq rose 56.77 points to 13,751.40.

The Russell 2000 index of small company stocks also bounced back from an early slide, adding 7.16 points, or 0.4%, to 2,048.09.

Markets had already been on edge before Russia’s invasion, worried about upcoming hikes in interest rates by the Federal Reserve, which would be the first since 2018.

Fed Chair Jerome Powell is scheduled to testify before Congress later this week, where he could offer clues on the path for interest rates. A report on Friday will also show whether strength in the U.S. jobs market continued in February, which would give the Fed more leeway to raise rates.

“This situation is throwing the inflation question into a little bit of tailspin,” said Greg Bassuk, CEO of AXS Investments. “The eyes are going to be on Powell to see the extent to which the Fed believes these geopolitical events could impact their timing and extend their rate hikes.”

The Fed is caught on a narrow tightrope, needing to raise rates enough to stamp out high inflation but not by so much as to choke the economy into a recession. Higher rates also put downward pressure on all kinds of investments from stocks to cryptocurrencies.

Given the uncertainty surrounding Ukraine, investors have sharply pared back bets the Fed will raise rates in March by double the usual increase. Traders are now forecasting just a 10.4% chance of that, according to CME Group. A day earlier, they were pricing in a 24% probability.

“Expectations are that central banks are going to take a somewhat slower and more cautious approach as a result of this crisis, so that provides a positive offset for risky assets,” Jonas Golterman, senior global markets economist at Capital Economics, said in an online briefing Monday.

Energy stocks in the S&P 500 jumped 2.6%. Defense-related companies also gained, with Lockheed Martin up 6.7%.

Financial analysts say wars and other such scary geopolitical events tend to have only a temporary effect on markets, perhaps lasting weeks or months. But in the moment, fear is nevertheless still higher.

Putin’s order that Russian nuclear weapons stand at increased readiness to launch ratcheted up tensions with Europe and the United States and revived dormant fears from the Cold War era.

The Russian central bank raised its key rate to 20% from 9.5% in a desperate attempt to shore up the plummeting ruble and prevent a run on banks. The Russian currency plunged at one point plunged below 0.9 cents before climbing back to a shade above a penny, though still down nearly 15%.

The ruble had plunged more than 30% after the move to block Russian banks from the SWIFT payments system. Among other things, the sanctions are meant to crimp the Russian central bank’s access to over $600 billion in reserves and hinder its ability to support the ruble.

ASX 200 futures pointing slightly higher​The Australian share market is expected to open the day slightly higher this morning despite a poor start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 5 points higher.

Stocks on Wall Street trimmed their losses through the morning, at one point flipping to modest gains, after big tech stocks and others that benefit most from low interest rates rallied.

The S&P 500, which had been down as much as 1.6%, recouped much of its losses to finish 0.2% lower. The Dow Jones Industrial Average fell 0.5% and the Nasdaq composite rose 0.4% after coming back from a 1.1% slide

The S&P 500 fell 10.71 points to 4,373.94. The Dow, which had dropped 589 points, ended down 166.15 points to 33,892.60. The Nasdaq rose 56.77 points to 13,751.40.

I* have added the "MOEX Russia Index" on line 6 below which did not update overnight and six month chart is:*







*Also Russia is not reporting any updates to trading yesterday Monday Feb 28 (all 0.0 change)*


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## bigdog

Stocks fall, oil tops $100 a barrel as Ukraine war rages
					

BEIJING (AP) — Asian stock markets slid Wednesday and oil prices surged more than $5 per barrel as Russian forces stepped up attacks on Ukrainian cities. Shanghai, Tokyo, Hong Kong and Seoul declined as President Vladimir Putin's invasion fueled fears of global economic turmoil.




					apnews.com
				




*Stocks fall, oil tops $100 a barrel as Ukraine war rages*

By DAMIAN J. TROISE and ALEX VEIGA

Oil prices soared and stocks fell on Wall Street Tuesday as investors shifted more money into ultra-safe U.S. government bonds in response to Russia’s escalating war on Ukraine.

Another day of volatile trading left stocks broadly lower as investors tried to measure how the conflict will impact the global economy. The S&P 500 index fell 1.5%. The Dow Jones Industrial Average fell 1.8% and the Nasdaq composite slid 1.6%. The declines add to the market’s losses after a two-month skid for the S&P 500.

The bigger moves came from the markets for oil, agricultural commodities and government bonds. Oil has been a key concern because Russia is one of the world’s largest energy producers. The latest bump in prices increases pressure on persistently high inflation that threatens households around the world.

U.S. benchmark crude oil jumped 8% to $103.41 per barrel. That’s the biggest single-day jump since May 2020 and the highest price since 2014. Brent crude, the international standard, surged 7.1% to $104.97.

The crisis in Ukraine prompted an extraordinary meeting of the International Energy Agency’s board, which resulted in all 31 member countries agreeing to release 60 million barrels of oil from their strategic reserves.

Russia’s invasion of Ukraine has also put more pressure on agricultural commodity prices, which were also already getting pushed higher with rising inflation. Wheat and corn prices rose more than 5% per bushel and are already up more than 20% so far this year. Ukraine is a key exporter of both crops.

“A whole confluence of factors are impacting markets,” said Bill Northey, senior investment director at U.S. Bank Wealth Management. “We see that manifesting not only in (stock) markets right now, which certainly have been more volatile over the course of the past two weeks since the invasion of Ukraine, but we’re also seeing it now across the rates complex as well as the commodities complex.”

Investors continued putting money into bonds, pushing yields lower. The yield on the 10-year Treasury fell sharply, sliding to 1.73% from 1.83% late Monday. It is now back to where it was in January. In February, it had crossed back above 2% for the first time in over two years. The 10-year Treasury yield is used to set interest rates on mortgages and many other kinds of loans.

The sharp pullback in bond yields weighed on banks. JPMorgan Chase fell 3.8% and Bank of America slid 3.9%.

More than 70% of the stocks in the S&P 500 closed lower, with technology, industrials and communication companies among the biggest drags on the benchmark index. Only the energy sector notched a gain. Occidental Petroleum jumped 7%.

All told, the S&P 500 fell 67.68 points to 4,306.26. The Dow, which had been down 763 points, ended down 597.65 points to 33,294.95. The Nasdaq slid 218.94 points to 13,532.46.

Small company stocks fared worse than the broader market. The Russell 2000 index slid 39.58 points, or 1.9%, to 2,008.51.

The conflict in Ukraine has shaken markets globally and added to worries about economic growth in the face of rising inflation and plans from central banks to raise interest rates. The U.S. and its allies have been putting significant pressure on Russia’s financial system as that nation continues its push into Ukraine and its key cities.

The value of the Russian ruble plunged to a record low Monday after Western countries moved to block some Russian banks from a key global payments system. Also Monday, the U.S. Treasury Department announced more sanctions against Russia’s central bank.

Various companies have announced plans to scale back or pull out from ventures in Russia, or to suspend operations in Ukraine due to the conflict. The Russian central bank has also raised its key rate to 20% from 9.5% in a desperate attempt to shore up the plummeting ruble and prevent a run on banks. Russia’s stock market remained closed on Tuesday.

Investors are closely monitoring developments in Ukraine while awaiting the latest updates from the Fed and U.S. government on the economy. Fed Chair Jerome Powell is to testify before Congress later this week and that could offer clues on the path ahead for raising interest rates.

“Investors will certainly be looking for cues around whether the Fed chair is emphasizing their inflation-fighting responsibilities and then also balancing that with the potential impact that this military conflict may have” on inflation, Northey said.

Meanwhile, a report on Friday will also show whether strength in the U.S. jobs market continued in February, allowing the Fed more leeway to raise rates.

Several stocks made big moves on earnings. Target jumped 9.8% for the biggest gain in the S&P 500 after reporting strong fourth-quarter financial results and saying it will invest up to $5 billion this year in physical stores, remodels and other initiatives. Workday rose 4.9% after reporting encouraging earnings.

ASX 200 expected to fall heavily​ The Australian share market looks set to fall heavily on Wednesday following a very poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 67 points or 1% lower this morning. 

Oil prices soared and stocks fell on Wall Street Tuesday as investors shifted more money into ultra-safe U.S. government bonds in response to Russia’s escalating war on Ukraine.

Another day of volatile trading left stocks broadly lower as investors tried to measure how the conflict will impact the global economy. The S&P 500 index fell 1.5%. The Dow Jones Industrial Average fell 1.8% and the Nasdaq composite slid 1.6%. The declines add to the market’s losses after a two-month skid for the S&P 500.


----------



## bigdog

*The Russian IMOEC.ME    MOEX Russia Index has now been closed for all three days this week!!*


https://apnews.com/article/russia-u...rkets-sydney-f71aa1336ec2e6e8ea9751aad4974dd3

*Wall Street roars back to rally mode, even as oil rises anew*

By STAN CHOE and ALEX VEIGA

Wall Street took another sharp swing Wednesday, this time back to rally mode, as stocks and Treasury yields rose even as U.S. crude oil prices climbed to the highest level in more than a decade.

The S&P 500 rose 1.9%, recouping its losses from earlier in the week, after Federal Reserve Chair Jerome Powell said he supports a more modest rise in interest rates this month than some investors had feared. He also said he still expects inflation, which is at its highest level in 40 years, to moderate through the year.

“Although we’ve had some Fed governors lately saying ‘Oh my God, this is such a huge crisis,’ the conventional wisdom is slow and steady wins the race right now,” said J.J. Kinahan, chief strategist with TD Ameritrade.

The comments helped drive the market higher, adding to modest gains from earlier in the morning. Other areas of the market also gained ground a day after worries about Russia’s invasion of Ukraine sent the S&P 500 tumbling 1.5% and prices soaring for all kinds of commodities.

Treasury yields jumped to recover some of their steep losses from the past week. Gold receded, and a measure of nervousness among stock investors on Wall Street eased after swinging sharply in recent days.

“We’ve seen wild swings, but not major changes in the indexes,” said Jeff Kleintop, chief global investment strategist at Charles Schwab. “Geopolitical conflicts can be very unsettling, but you don’t tend to get bear markets from these, just periods of volatility.”

Markets have been spinning wildly as investors try, sometimes blindly, to gauge how high Russia’s attack on Ukraine will push prices for oil, wheat and other commodities where the region is a major producer. On top of that are worries about what upcoming hikes in interest rates by the Federal Reserve and other central banks around the world will do to the economy and inflation.

Powell said in testimony to Congress that the Fed is set to raise its key interest rate for the first time since 2018. But he also said the attack on Ukraine may have muddied conditions, with its impact on the U.S. economy “highly uncertain,” adding that “we’re never on autopilot.”

The Fed is balancing a tightrope where it needs to raise interest rates enough to rein in the highest inflation in generations but not so much that it pushes the economy into a recession. All the while, higher interest rates tend to put downward pressure on stocks and most other investments.

The yield on the 10-year Treasury leaped to 1.89% from 1.72% late Tuesday, while the two-year Treasury surged to 1.53% from 1.31%. Yields, though, remain well below where they were before Russia’s invasion. The 10-year yield was above 2% last month, before it plunged as investors plowed into investments seen as safer amid worries about war.

The price of U.S. oil jumped another 7% to $110.60 per barrel, the highest level in just over a decade. Brent crude, the international standard, climbed 7.6% to $112.93 per barrel.

Leaders of OPEC and other major oil-producing countries decided Wednesday to stick with their plan to gradually increase oil production. The OPEC+ coalition of oil producers, made up of OPEC members led by Saudi Arabia and non-cartel members led by Russia, chose to increase oil production by 400,000 barrels per day in April.

The move follows a perhaps less impactful decision by the United States and other major governments in the International Energy Agency to release 60 million barrels from strategic reserves to boost supplies.

“Markets dismissed the notion that 60 million barrels of strategic reserves released will be consequential to the risks of Russian supply jeopardized,” Tan Boon Heng of Mizuho Bank said in a report. “Russia pumps more than that in just six days.”

In the stock market, all the uncertainty about oil prices and inflation has led to big swings not only by the day but also by the hour. The S&P 500 swung between gains of 0.4% and 2.2% Wednesday. It closed 80.28 points higher to 4,386.54.

The Dow Jones Industrial Average rose 596.40 points, or 1.8%, to 33,891.35, while the Nasdaq composite gained 219.56 points, or 1.6%, to 13,752.02.

More than 90% of stocks in the S&P 500 rose, with technology, financial and health care companies accounting for a big share of the rally. Bank stocks led the gainers, climbing 2.6%, as higher longer-term interest rates can mean bigger profits for them making loans. Energy stocks also helped lift the index as they rode higher energy prices.

Ross Stores climbed 6.1% after the retail chain reported stronger profit for its last quarter than analysts expected.

Ford jumped 8.4% after it said it was accelerating its transformation into an electric-vehicle company and split its EV and internal combustion operations into two individual businesses.

Stock markets around the world were mixed. France’s CAC 40 rose 1.6%, Germany’s DAX returned 0.7% and Japan’s Nikkei 225 fell 1.7%.

Russia’s central bank said stock trading on the Moscow exchange would remain closed Wednesday for a third day, though trading of currencies and precious metals would resume for the first time this week.

Late Tuesday, President Joe Biden announced he was joining U.S. allies in closing the country’s air space to Russian aircraft, the latest in a set of sanctions and other measures meant to isolate Russia.

But Biden also said in his annual State of the Union speech that he would try to cushion Americans against the impact of higher oil prices. “I will use every tool at our disposal to protect American businesses and consumers,” Biden said.

ASX 200 to open higher​The Australian share market looks set to rise again on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 56 points or 0.8% higher this morning.

In the NYSE stock market, all the uncertainty about oil prices and inflation has led to big swings not only by the day but also by the hour. The S&P 500 swung between gains of 0.4% and 2.2% Wednesday. It closed 80.28 points higher to 4,386.54.

 The Dow Jones Industrial Average rose 596.40 points, or 1.8%, to 33,891.35, while the Nasdaq composite gained 219.56 points, or 1.6%, to 13,752.02


----------



## bigdog

*Trading on the Moscow exchange remained closed Thursday and now for four days (refer MOEX Russia Index)*






https://apnews.com/article/russia-u...-sydney-asia-0cda31b9e22a7a8667b2513340705c64

*Stocks end another bumpy day lower and crude oil prices ease*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks fell and oil prices eased back Thursday after another bumpy day of trading on Wall Street as markets remained anxious about the broader impact of Russia’s invasion of Ukraine.

Major indexes veered up and down for much of the day before a late-day slide pushed them into the red. The S&P 500 shed a 0.7% gain to close 0.5% lower, while the Dow Jones Industrial Average fell 0.3%. The Nasdaq composite fell 1.6%, weighed down by technology stocks, which accounted for a big share of the market’s decline. The pullback left the indexes on pace for weekly losses.

Bond yields were mostly steady. The yield on the 10-year Treasury slipped to 1.85% from 1.86% late Wednesday.

Stocks rallied a day earlier after Federal Reserve Chair Jerome Powell said he favored a modest interest rate increase at the Fed’s policy meeting in two weeks, bringing relief to investors who had feared he would back more aggressive moves to fight inflation.

“We’ve gotten a lot of clarity on what the Fed plans to do,” said Liz Young, chief investment strategist at SoFi. “But we’ve got this overhanging cloud of the geopolitical risk and oil prices still pressuring sentiment a little bit.”

The S&P 500 fell 23.05 points to 4,363.49. The Dow slid 96.69 points to 33,794.66. The Nasdaq dropped 214.07 points to 13,537.94.

Smaller company stocks also lost ground. The Russell 2000 index fell 26.46 points, or 1.3%, to 2,032.41.

Communication stocks, retailers and other companies that rely on direct consumer spending had some of the broadest losses. Sectors that are viewed as less risky, including utilities and household goods makers, gained ground.

The broader market remains volatile as investors continue to worry about the conflict in Europe along with rising inflation and the impact on economic growth and how central banks around the world act to try and restrain inflation.

The economic fallout from the Russian invasion expanded as Fitch Ratings and Moody’s Ratings cut Russia’s credit rating. The agencies said the invasion and Western sanctions have hurt Moscow’s ability to repay debts and raised risks for the economy and stability.

The London Stock Exchange said it had suspended trading in shares of 27 companies with links to Russia, including some of the biggest in energy and steel, such as Lukoil, Gazprom, Sberbank, Rosneft and Magnitogorsk Iron & Steel Works. Those shares lost most of their value prior to the suspension. Rosneft shares dropped from $7.91 on Feb. 16 to 60 cents on March 2, while Sberbank shares plunged from $14.90 to 5 cents in that same time frame.

Trading on the Moscow exchange remained closed Thursday. Russia’s ruble lost another 15% against the U.S. dollar and is worth less than 1 cent. It has plunged since Western governments imposed sanctions that cut off much of Russia’s access to the global financial system.

The exposure and overlap that U.S. markets have to Russia is relatively low. The real risk is the exposure that European banks have to Russia, Young said.

“If European banks start to feel the contagion of that, then it’s about what’s our exposure to Europe, which surprisingly is still reasonably low,” she said. “That doesn’t mean there’s not sentiment risk. Nobody likes to hear about financial markets freezing up.”

Russia’s invasion of Ukraine has been the dominant issue for investors all week as they try to assess its global economic impact. Russia is a key oil producer and prices have been rising as global supplies remain threatened by the conflict, raising concerns that persistent inflation could become even hotter.

Leaders of OPEC and other major oil-producing countries are sticking with plans to gradually increase oil production. Meanwhile, the U.S. and other major governments in the International Energy Agency plan to release 60 million barrels from strategic reserves to boost supplies.

The price of U.S. benchmark crude oil fell 2.6% to $107.67 a barrel and Brent crude, the international standard, fell 2.2% to $110.46. Both are still up more than 17% for the week.

Rising inflation and the Fed’s reaction is still a big focus for investors with the impact of the conflict uncertain. Powell gave a second day of testimony before Congress Thursday, telling the Senate Banking Committee that Russia’s invasion of Ukraine will likely further magnify the high inflation that has engulfed the U.S. economy. At the same time, Powell said he is committed to doing whatever it will take to slow inflation, underscoring the central bank’s high-risk challenge in raising interest rates enough to stem inflation without tipping the economy into another recession.

Investors will get another update on the U.S. jobs market on Friday when the Labor Department releases its report for February.

“What we’re poised for is to really look hard at the jobs report tomorrow to see what the Fed needs to do and the state of the economy,” said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. “Tomorrow’s average hourly earnings will provide a good read on inflation and whether consumers are able to keep up.”

ASX 200 expected to fall​
The Australian share market looks set to end the week in a disappointing fashion. According to the latest SPI futures, the ASX 200 is expected to open the day 44 points or 0.6% lower this morning.

On Wall Street, stocks fell and oil prices eased back Thursday after another bumpy day of trading on Wall Street as markets remained anxious about the broader impact of Russia’s invasion of Ukraine.

Major indexes veered up and down for much of the day before a late-day slide pushed them into the red. The S&P 500 shed a 0.7% gain to close 0.5% lower, while the Dow Jones Industrial Average fell 0.3%. The Nasdaq composite fell 1.6%, weighed down by technology stocks, which accounted for a big share of the market’s decline. The pullback left the indexes on pace for weekly losses..


----------



## bigdog

*Trading on the Moscow exchange remained closed Friday and now for five days (refer MOEX Russia Index)

SEA OF RED FOR ALL INDEX'S TODAY*

https://apnews.com/article/russia-u...cial-markets-9662ade67a95517211b3f9b396c4b33c

*Stocks tumble as war overshadows ‘fantastic’ US jobs data*

By STAN CHOE and ALEX VEIGA

Stocks around the world racked up more losses Friday, as even a gangbusters report on the U.S. jobs market can’t pull Wall Street’s focus off its worries about the war in Ukraine.

The S&P 500 fell 0.8% and posted its third weekly loss in the last four. The Dow Jones Industrial Average fell 0.5% and the Nasdaq composite ended 1.7% lower.

The declines for U.S. stock indexes followed sharper losses in Europe after a fire at the continent’s largest nuclear plant caused by shelling raised worries about what’s next. Markets worldwide have swung wildly over the last week on worries about how high prices for oil, wheat and other commodities produced in the region will go because of Russia’s invasion, inflaming the world’s already high inflation.

Treasury yields sank again as investors moved money into U.S. government bonds in search of safety, and a measure of nervousness on Wall Street climbed.

All the movements came despite a much stronger report on U.S. jobs than economists expected, one described as encouraging and even “fantastic.” Hiring by employers last month topped expectations by hundreds of thousands of workers, more people came back into the workforce after sitting on the sidelines and jobs numbers for prior months were revised higher.

On the inflation front, growth in wages for workers was slower last month than economists expected. While that’s discouraging for workers hoping to keep up with rising prices at the grocery store, for economists and investors, it means less risk the economy may be headed for what’s called a “wage-price spiral.” In such a reinforcing cycle, higher wages for workers would cause companies to raise their own prices even higher.

“The COVID recovery was in full bloom in the jobs report,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments.

“The tricky part is the future, not the past,” he said, as U.S. crude oil prices climbed above $115 per barrel amid worries about pressure on supplies because of the Ukrainian war. “Higher fuel and food costs can eat into consumers’ budgets. Those high costs can be a boon for oil producers and farmers, but not for everyone else.”

Such concerns helped drag stocks sharply lower in the early going, though the indexes pared their losses by the end of the day. The S&P 500 fell 34.62 points to 4,328.87, and is now down just under 10% from its record set early this year.

The Dow, which slid initially more than 500 points, ended down 179.86 points to 33,614.80. The Nasdaq fell 224.50 points to 13,313.44.

Smaller company stocks also fell. The Russell 2000 index dropped 31.51 points, or 1.6%, to 2,000.90.

In the benchmark S&P 500, more than 60% of stocks fell, with technology and financial companies weighing down the index the most. Apple fell 1.8% and JPMorgan Chase slid 2.8%. Among the gainers were utilities, health care stocks and companies that can benefit from higher oil prices. Occidental Petroleum vaulted 17.6% for the biggest gain in the index.

In Europe, whose economy is much more closely tied to the conflict because of its dependence on oil and natural gas from the region, the losses were sharper. France’s CAC 40 fell 5%, Germany’s DAX lost 4.4% and the FTSE 100 in London fell 3.5%.

Russian forces gained ground, shelling Europe’s largest nuclear power plant and causing a fire early Friday as they pressed their attack on a crucial energy-producing Ukrainian city. Authorities said the blaze was safely extinguished. U.S. Energy Secretary Jennifer Granholm tweeted that the Zaporizhzhia plant’s reactors were protected by robust containment structures and were being safely shut down.

Trading on the Moscow exchange, after briefly opening Monday, has remained closed throughout the week. The value of Russia’s ruble continues to hover below a penny after plunging roughly 30% since the middle of last week. It now takes roughly 104 rubles to get a dollar, up from fewer than 75 at the start of the year. The ruble has dropped as Western governments imposed sanctions that cut off much of Russia’s access to the global financial system.

The price of U.S. oil jumped 7.4% to $115.68 per barrel, the highest since August 2008. In July of that year, the price per barrel of U.S. crude climbed to an all-time high $145.29, pushing up the average price for gasoline above $4 a gallon.

Brent crude, the international standard, climbed 6.9% to $118.11 per barrel Friday.

“I don’t think the elevated commodity prices are behind us by any means,” said Megan Horneman, chief investment officer at Verdence Capital Advisors. “As energy prices continue to rise, eventually there could be some demand destruction that will result in some peaking in the price and possibly some decline in the price of oil.”

Amid the rush to safety, the yield on the 10-year Treasury fell to 1.74% from 1.84% late Thursday, a big move. It’s well below the 2% level it had reached last month, as expectations built for upcoming hikes in interest rates by the Federal Reserve to rein in inflation.

Stocks had rallied in the middle of the week after Federal Reserve Chair Jerome Powell said he favored a more modest increase to interest rates later this month than some investors had feared. The Fed is set to raise rates for the first time since 2018, though it has a tightrope walk ahead because too-high rates can choke the economy and cause a recession.

Powell warned Thursday that the fighting in Ukraine is likely to further magnify the high inflation troubling world economies. Russia is a key oil producer and prices have been rising as global supplies are threatened by the conflict.


----------



## bigdog

ASX 200 expected to rebound​ The Australian share market looks set to start the week on a positive note despite a poor finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 28 points or 0.4% higher this morning. 

On Friday, stocks around the world racked up more losses Friday, as even a gangbusters report on the U.S. jobs market can’t pull Wall Street’s focus off its worries about the war in Ukraine.

The S&P 500 fell 34.62 points to 4,328.87, and is now down just under 10% from its record set early this year.

The Dow, which slid initially more than 500 points, ended down 179.86 points to 33,614.80. The Nasdaq fell 224.50 points to 13,313.44.

The S&P 500 fell 0.8% and posted its third weekly loss in the last four. The Dow Jones Industrial Average fell 0.5% and the Nasdaq composite ended 1.7% lower.


----------



## bigdog

*SEA OF RED FOR ALL INDEX'S TODAY AGAIN*

The value of the Russian ruble continued to slide amid all the financial pressure, falling 12% to 0.7 cents.

https://apnews.com/article/russia-u...losi-economy-91fec47e5de9fa734fd0de9c402c2b99

*Biggest stock slide on Wall Street since ’20 as oil surges*

By STAN CHOE and ALEX VEIGA

Wall Street had its biggest drop in more than a year Monday as another leap for oil prices threatened to squeeze inflation’s grip on the global economy.

The S&P 500 fell 3%, its biggest decline in 16 months, after a barrel of U.S. oil surged to $130 overnight on the possibility the U.S. could bar imports from Russia. Stocks around the world also fell earlier in the day, taking their cue from oil’s movements.

The benchmark S&P 500 fell 122.78 points to 4,201.09. The Dow Jones Industrial Average fell 797.42 points, or 2.4%, to 32,817.38.

The Nasdaq composite slid 482.48 points, or 3.6%, to 12,830.96. The tech-heavy index is now 20.1% below its record set in November. Such a decline means the index is now in what Wall Street calls a bear market. The S&P 500 is down a more modest 12.4% from the peak it set in early January.

Gold and a measure of nervousness on Wall Street also rose, though not by quite as much as when oil prices hit their peak. The price of gold briefly rose above $2,000 an ounce before settling at $1,995.90, up 1.5%.

“This could be something that drags on for a while as the tensions in Ukraine persist, as oil prices remain elevated,” said Sam Stovall, chief investment strategist at CFRA. “The higher and longer oil prices stay elevated, the greater the eroding impact that they will have on economic growth.”

Oil prices have soared recently on worries that Russia’s invasion of Ukraine will upend already tight supplies. Russia is one of the world’s largest energy producers, and oil prices were already high before the attack because the global economy is demanding more fuel following its coronavirus-caused shutdown.

U.S. House Speaker Nancy Pelosi said in a letter to her colleagues on Sunday that “the House is currently exploring strong legislation” to further isolate Russia because of its attack on Ukraine. That could include a ban on imports of Russian oil and energy products, she said.

It’s a major step that the U.S. government has not yet taken, despite a long list of moves to punish Russia, as the White House has said it hopes to limit disruptions to oil markets. It wants to limit price jumps at the gasoline pump.

Reports also said U.S. officials may be considering easing sanctions against Venezuela. That potentially could free up more crude oil and ease concerns about reduced supplies from Russia.

A gallon of regular already costs an average of $4.065 across the country after breaching the $4 barrier on Sunday for the first time since 2008. A month ago, a gallon averaged $3.441, according to AAA.

A barrel of U.S. crude oil settled at $119.40 per barrel, up 3.2%, after earlier touching $130.50. Brent crude, the international standard, settled at $123.21 per barrel, up 4.3%, after earlier topping $139.

Meanwhile, smaller company stocks also fell sharply. The Russell 2000 index fell 49.57 points, or 2.5%, to 1,951.33.

Markets worldwide have swung wildly recently on worries about how high prices for oil, wheat and other commodities produced in the region will go because of Russia’s invasion, inflaming the world’s already high inflation. In the United States, prices for consumers jumped last month from their year-ago level at the fastest rate in four decades.

The conflict in Ukraine also threatens the food supply in some regions, including Europe, Africa and Asia, which rely on the vast, fertile farmlands of the Black Sea region, known as the “breadbasket of the world.”

The war puts extra pressure on central banks around the world, with the Federal Reserve on course to raise interest rates later this month for the first time since 2018. Higher rates slow the economy, which hopefully will help rein in high inflation. But if the Fed raises rates too high, it risks forcing the economy into a recession.

“Their reaction to geopolitics can’t really be measured, so there’s uncertainty around that,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

Some investors have seen the war in Ukraine as potentially pushing the Fed to go easier on rate increases. Investors love low rates because they tend to boost prices for stocks and all kinds of markets.

But that may not necessarily be the case this time, Goldman Sachs economists wrote in a report. With prices for oil, wheat and other commodities potentially rising even more, the threat is higher for a sustained, high inflation to settle on the economy. That could flip the Fed’s traditional playbook.

“After several decades in which economic, financial, or political shocks invariably caused interest rates to fall, markets may have to re-learn that the opposite can also be true,” Goldman Sachs economist Jan Hatzius wrote.

Beyond sanctions brought on Russia by governments because of its invasion of Ukraine, companies are also levying their own punishments. The list of companies exiting Russia has grown to include Mastercard, Visa and American Express, as well as Netflix.

The value of the Russian ruble continued to slide amid all the financial pressure, falling 12% to 0.7 cents.

Treasury yields climbed. The 10-year yield rose to 1.78% from 1.72%.

ASX 200 futures pointing lower​ The Australian share market is expected to open the day lower this morning following a poor start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 8 points or 0.1% lower. This may not be a bad outcome considering the falls in New York!

Wall Street had its biggest drop in more than a year Monday as another leap for oil prices threatened to squeeze inflation’s grip on the global economy.

The S&P 500 fell 3%, its biggest decline in 16 months, after a barrel of U.S. oil surged to $130 overnight on the possibility the U.S. could bar imports from Russia. Stocks around the world also fell earlier in the day, taking their cue from oil’s movements.

The benchmark S&P 500 fell 122.78 points to 4,201.09. The Dow Jones Industrial Average fell 797.42 points, or 2.4%, to 32,817.38.


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## bigdog

https://apnews.com/article/russia-u...tokyo-sydney-1ac7c193d204266b2901fe420d32c2c2

*Stocks wobble lower, crude climbs after US bans Russian oil*

By STAN CHOE

Stocks closed lower Tuesday following another wobbly day of trading on Wall Street, as oil prices climbed after the U.S. banned imports from Russia.

The economic fallout from its invasion of Ukraine also rocked the market for nickel, driving up its price so much that trading for the metal was shut.

The S&P 500 fell 0.7% after careening between a loss of 1% and a gain of 1.8%. Such wide swings have become common as investors struggle to guess how high oil prices will go, and how much they’ll drag on the economy. The benchmark index lost 30.39 points to 4,170.70. It has fallen four days in a row and is now 13.1% below its record high set early this year.

Oil has surged on worries global supplies will be disrupted because Russia is one of the world’s largest energy producers. After President Joe Biden’s announcement of the Russian oil ban, the price of a barrel of U.S. crude rose 3.6% to settle at $123.70. Brent crude, the international standard, rose 3.9% to $127.98.

But oil prices did not climb as high as they did a day earlier, when worries flared about a possible ban and U.S. oil’s price touched $130.50. As oil pared its gains following Biden’s announcement, stocks also trimmed their losses.

The surprising reactions may have been a result of the big moves that markets already made a day earlier, in anticipation of the announcement, said Nate Thooft, chief investment officer of multi-asset solutions at Manulife Investment Management.

“You’ve seen the sanctions ramp up, but in the eyes of the market, that’s old news,” he said. “Now that it’s happened, and a lot of selling has already occurred, the market asks, ‘Who else is going to sell?’ and you have people buy into the market.”

He expects the dizzying hour-to-hour swings to continue. Uncertainty is still high, and many investors are still anxious to trade quickly. “To me, for the traditional investor,” he said, “this is one of those situations where you buy on weakness and close your eyes.”

The Nasdaq composite fell 35.41 points, or 0.3%, to 12,795.55. On Monday, it closed 20% below its record high. The Dow Jones Industrial Average fell 184.74 points, or 0.6%, to 32,632.64. It earlier swung from a loss of 238 points to a gain of 585.

Small company stocks held up better than the broader market. The Russell 2000 rose 11.68 points, or 0.6%, to 1,963.01.

Already high oil prices have pushed the average price of a gallon of gasoline in the country to a record high. Biden said he hopes to limit the pain for Americans, but he acknowledged that the ban will increase gasoline prices.

“Defending freedom is going to cost us as well,” he said.

Biden also said he understood many European allies may not be able to make similar moves, because they are much more dependent on Russian energy supplies. European nations have said they plan to reduce their reliance on Russia for their energy needs, but filling the void without crippling their economies will likely take some time.

“Markets just need time to digest things and they were credibly shocked when it (the invasion) happened,” said Kristina Hooper, chief global market strategist at Invesco. “It’s not a surprise that the E.U. is not going in with the U.S. on this, and that is certainly a positive for oil, but we also have to recognize that this is changing rather quickly.”

The U.S. ban on Russian oil imports is the latest move by governments and companies around the world to squeeze Russia’s finances following its attack of Ukraine. All the penalties raise questions about how high prices will go not only for oil but also for natural gas, wheat and other commodities where the region is a major producer. That’s in turn adding more pressure to the already high inflation sweeping the world, cranking up its hold on the global economy.

It’s also making an already difficult path for the Federal Reserve and other central banks around the world even more treacherous. They’ve been hoping to raise interest rates enough to push down high inflation, but not so much as to cause a recession.

“This geopolitical risk has essentially reduced some of the Fed’s policy risk and they are far less likely to make a policy error this year,” Hooper said. “The Fed does recognize this risk to U.S. policy and will tread more carefully.”

All the uncertainty has led to particularly wild trading for commodities, where challenges for supplies are colliding with strengthening demand as the global economy comes back from its coronavirus-caused shutdown.

Trading in nickel was suspended Tuesday on the London Metal Exchange after prices doubled to an unprecedented $100,000 per metric ton.

Nickel is used mostly to produce stainless steel and some alloys, but increasingly it is used in batteries, particularly electric vehicle batteries.

Russia is the world’s third-biggest nickel producer. And the Russian mining company Nornickel is a major supplier of the high-grade nickel that is used in electric vehicles.

The yield on the 10-year Treasury note, which is used to set interest rates on mortgages and many other kinds of loans, rose to 1.84% from 1.75% late Monday.

ASX 200 expected to rise​The Australian share market looks set to rise on Wednesday following a decent night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 29 points or 0.4% higher this morning.

Stocks closed lower Tuesday following another wobbly day of trading on Wall Street, as oil prices climbed after the U.S. banned imports from Russia.

The Nasdaq composite fell 35.41 points, or 0.3%, to 12,795.55. On Monday, it closed 20% below its record high. The Dow Jones Industrial Average fell 184.74 points, or 0.6%, to 32,632.64. It earlier swung from a loss of 238 points to a gain of 585.  The S&P 500 fell 0.7% after careening between a loss of 1% and a gain of 1.8%.


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## bigdog

https://apnews.com/article/russia-u...siness-china-39cee10de712ec61c44fba5c688d4b33

*Stocks jump most since June 2020 as oil prices fall sharply*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Stocks rallied for their biggest gain in nearly two years Wednesday as a sharp drop in oil prices eased fears that inflation was about to get worse around the globe.

The S&P 500 climbed 2.6%, its biggest increase since June 2020. The Dow Jones Industrial Average rose 2% and the Nasdaq composite jumped 3.6%. The gains snapped a four-day losing streak for the major indexes, though they remained on pace for weekly losses.

The market turnaround came as the price of U.S. crude oil dropped 12%, the most since November, bringing relief after a sharp runup in crude prices since Russia invaded Ukraine. Brent, the international oil standard, fell 13.2%, its biggest fall in almost two years.

Big swings have been jerking markets around in recent weeks as investors grope to guess how much economic damage Russia’s invasion of Ukraine will do. The swings have struck not only day-to-day but also hour-to-hour, with some days seeing several big reversals.

The chaotic movements are likely only to continue with uncertainty so high about the war in Ukraine and its ultimate economic fallout. The region is key to markets because it’s a major producer of oil, wheat and other commodities, whose prices have spiked on worries about disruptions to supplies.

“It’s one day, so it’s hard to really draw any type of conclusions,” said Keith Buchanan, senior portfolio manager at Globalt Investments. “Markets had their backs against the wall, kind of expecting the worst.”

Crude oil prices tumbled and the slide accelerated amid reports that the United Arab Emirates will urge fellow OPEC members to boost production and ease supply concerns. A barrel of U.S. crude oil settled at $108.70. Brent settled at $111.14.

Stocks once again moved in the opposite direction of oil prices Wednesday, with inflation such a dominant worry. Analysts said bargain hunters may be scooping up stocks after concerns about a slowing economy coupled with high inflation triggered their steep recent slide. Many of those buyers appear to be smaller-pocketed, “retail” investors trading on their phones and laptops. And they’re often buying shares that big professional investors are selling.

Last week saw record selling of U.S. stocks by hedge funds, strategist Jill Carey Hall wrote in a recent BofA Global Research report. Retail investors and institutional investors were net buyers.

The moves by retail investors may be a result of people worrying about missing out on any potential rebound. A “buy-the-dip” strategy, where drops in stocks were seen mainly as opportunities to buy low, was very successful following the 2020 crash caused by the coronavirus. The S&P 500 kept climbing from that plummet without a 10% drop until just recently.

Big recent moves for markets also show that prices already reflect a lot of pessimism, with crude oil prices up more than 45% so far in 2022. That may be why crude prices actually receded on Tuesday, after President Joe Biden announced a U.S. ban on imports of Russian oil. A ban will mean disruptions to supplies, but oil traders may already have accounted for it when they briefly pushed the price of U.S. crude above $130 a day before the announcement.

Gold prices and a measure of nervousness among stock investors on Wall Street also eased.

All told, the benchmark S&P 500 rose 107.18 to 4,277.88. The Dow added 653.61 to 33,286.25, and the Nasdaq gained 459.99 to 13,255.55. The Russell 2000 index of smaller company stocks rose 53.28, or 2.7%, to 2,016.29.

European stocks rallied even more than the U.S. market. Germany’s DAX jumped 7.9% and France’s CAC 40 rose 7.1%.

European nations face an even greater shock than the U.S. from rising energy prices because of Russia’s invasion of Ukraine. That could result in the European Union taking greater action to shore up its economy.

The result could be more stimulus and more caution from central banks on interest rate increases, said Stephen Dover, chief market strategist and head of Franklin Templeton Investment Institute.

“Whereas the U.S. will have the wind in its face as stimulus falls, Europe may actually have the wind at its back.”

On Wall Street, the gains were broad-based, with nearly 85% of the stocks in the S&P 500 rising, led by technology companies. Some of the strongest moves came from airlines, travel companies and other stocks that bounced back from steep drops on worries about fuel costs and the economy.

Among Wednesday’s few decliners were oil-related companies, which lost momentum following big leaps this year on the back of rising crude prices. Halliburton fell 5.2%, though it’s still up 52% for 2022.

Such swings have been particularly wide in markets for commodities because Russia is the No. 2 oil exporter and the No. 3 supplier of nickel, which is used in electric car batteries, stainless steel and other products. Russia and Ukraine also are among the biggest global sellers of wheat.

Less than a week after removing from Russia its list of nations deemed a safe place to invest, Fitch cut its credit rating on the nation further into junk status and warned of an imminent default on sovereign debt.

Treasury yields climbed as an anticipated increase in interest rates by the Federal Reserve nears. The Fed’s policy-making committee is meeting next week, and the wide expectation is that it will vote to raise its benchmark short-term rate by a quarter of a percentage point. It would be the first such increase since 2018.

The Fed is facing a delicate and increasingly tough task as it moves to raise rates through 2022, which tends to slow the economy. The central bank wants to pull rates high enough to push down inflation, which is at its highest level in generations. But it doesn’t want to raise them so much that it causes a recession.

“There’s more uncertainty about what the Fed is going to do now than just a few weeks ago,” Dover said.

The yield on the 10-year Treasury rose to 1.94% from 1.86% late Tuesday.

Bitcoin rallied 8% after Biden signed an executive order on government oversight of cryptocurrency. Crypto players have increasingly been saying they welcome increased regulation, and they want to have a hand in shaping it.

ASX 200 expected to rise​ The Australian share market looks set to rise again on Thursday following a stunning night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 16 points or 0.2% higher this morning. 

Stocks rallied for their biggest gain in nearly two years Wednesday as a sharp drop in oil prices eased fears that inflation was about to get worse around the globe.

The S&P 500 climbed 2.6%, its biggest increase since June 2020. The Dow Jones Industrial Average rose 2% and the Nasdaq composite jumped 3.6%. The gains snapped a four-day losing streak for the major indexes, though they remained on pace for weekly losses.

The market turnaround came as the price of U.S. crude oil dropped 12%, the most since November, bringing relief after a sharp runup in crude prices since Russia invaded Ukraine. Brent, the international oil standard, fell 13.2%, its biggest fall in almost two years.


----------



## bigdog

https://apnews.com/article/russia-u...rkets-europe-4500b6bb2b249deb79699f56d3dd619b

*Stocks slip, oil prices turn lower as uncertainty continues*

By STAN CHOE and ALEX VEIGA

Technology companies led stocks lower Thursday after another day of choppy trading on Wall Street as global markets keep swinging on uncertainty about where inflation, interest rates and the global economy are heading.

The S&P 500 fell 0.4%, its fifth drop in the last six days. The slide marks another reversal for U.S. stocks, which just a day earlier surged to their biggest gain since June 2020 when a tumble for oil prices seemed to take some pressure off the world’s high inflation.

Oil prices had their own swings Thursday, with a barrel of U.S. crude jumping as much as 5.7%, before flip-flopping between gains and losses. It settled at $106.02, down 2.5%. Recent surges for energy prices have raised the risk that the economy is set to struggle under a toxic cocktail of stagnating growth and persistently high inflation.

Oil’s back-and-forth moves were just some of the waves of reports that buffeted markets worldwide. The European Central Bank said high inflation will push it to wrap up its bond-buying program meant to boost its economy faster than expected. In the U.S., a report showed that consumer prices leaped 7.9% in February from a year earlier. It’s the sharpest spike since 1982, though the reading was largely within expectations.

Altogether, the forces caused a reversal for many of the market’s moves from a day before.

The S&P 500 dropped 18.36 points to 4,259.52. The benchmark index is now 11.2% below the all-time high it set early this year.

The Dow Jones Industrial Average fell 112.18 points, or 0.3%, to 33,174.07, while the tech-heavy Nasdaq composite slid 125.58 points, or 0.9%, to 13,129.96.

Smaller company stocks held up better than the broader market. The Russell 2000 fell 4.62 points, or 0.2%, to 2,011.67.

European stocks were hit even harder, with Germany’s DAX losing 2.9% and France’s CAC 40 down 2.8%. Asian stocks mostly rose.

Such swings have become common in recent weeks, not only day-to-day but hour-to-hour, after Russia’s invasion of Ukraine raised worries about how high prices will go for oil, wheat and other commodities produced in the region. Markets were already on edge before the war because high inflation is pushing central banks to raise interest rates for the first time in years and halt programs launched to support the global economy after the pandemic struck. Many investors see a recession as still unlikely, but they say the risk of one is rising.

“Until investors can get clarity on some of these topics, we’re going to continue to have volatile markets,” said Charlie Ripley, senior investment strategist for Allianz Investment Management.

Analysts said Thursday’s U.S. inflation report, while eye-popping, likely won’t have much effect on markets. The 7.9% leap was exactly what economists were forecasting, and it did not include the most recent surge for oil and gasoline prices following Russia’s invasion of Ukraine. If anything, it may have offered some relief because it didn’t hit the 8% threshold that could feel even worse.

Many investors said the report likely won’t change anything for the Federal Reserve, which meets next week to vote on interest rates. The wide expectation is that it will raise its key short-term rate by a quarter of a percentage point, which would be the first since 2018. Higher rates slow the economy, and the Fed is trying to raise them enough to tamp down inflation but not so much that it causes a recession.

“To an extent, this inflation report doesn’t matter much,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments.

“The Fed will likely acknowledge the higher food and energy costs, but also acknowledge that there’s little to nothing that monetary policy can do about it,” he said as oil and wheat prices have surged following Russian President Vladimir Putin’s decision to invade Ukraine. “Monetary policy can’t get Putin to back down.”

Brent crude, the international standard, fell 1.6% to $109.33 per barrel. Both it and U.S. benchmark oil are up more than 40% for 2022 so far, though they remain below the peaks they hit earlier this week. U.S. oil briefly topped $130.

The yield on the 10-year Treasury, which tracks expectations for inflation and economic growth, wavered immediately after the inflation report’s release. It rose to 2% from 1.94% late Wednesday.

The two-year Treasury yield, which moves more on expectations of what the Federal Reserve will do with short-term rates, rose to 1.71% from 1.68%.

On Wall Street, the losses were widespread. Big tech companies were some of the heaviest weights on the market. Chip and software companies slumped sharply. Micron Technology fell 4.7% and Advanced Micro Devices slid 4.1%

On the winning side was Amazon, which climbed 5.4% after it announced a 20-for-1 stock split and approved a program to buy back up to $10 billion of its stock.

Continued market volatility is likely in the days ahead as the conflict rages in Ukraine.

“Markets seem to have latched onto a couple of slightly less dismal clues as an excuse to rally hard,” ING economists said in a report following jumps for stocks on Wednesday and early Thursday. “The basis for that optimism — it’s actually pretty thin.”

ASX 200 expected to fall​The Australian share market looks set to end the week in the red following a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 23 points or 0.3% lower this morning.

Technology companies led stocks lower Thursday after another day of choppy trading on Wall Street as global markets keep swinging on uncertainty about where inflation, interest rates and the global economy are heading

The S&P 500 dropped 18.36 points to 4,259.52. The benchmark index is now 11.2% below the all-time high it set early this year.

The Dow Jones Industrial Average fell 112.18 points, or 0.3%, to 33,174.07, while the tech-heavy Nasdaq composite slid 125.58 points, or 0.9%, to 13,129.96.


----------



## bigdog

https://apnews.com/article/russia-ukraine-biden-business-asia-tokyo-67e3a3436481e92a7ef577d046dd6b16

*Stocks fall again as uncertainty over Ukraine war persists*

By STAN CHOE and ALEX VEIGA

Stocks gave up early gains and closed broadly lower Friday, capping a turbulent week of trading on Wall Street as uncertainty about the war in Ukraine and surging inflation continue to roil markets.

The S&P 500 fell 1.3% after having been up 0.7% in the early going. The benchmark index marked its fourth losing week in the last five, even though it surged in the middle of the week and had its best day since the summer of 2020. The Dow Jones Industrial Average dropped 0.7% and Nasdaq composite slid 2.2%. Both also posted a weekly loss.

European stocks fared better, closing solidly higher. Oil prices ended 3.1% higher after flip-flopping earlier.

The moves are the latest swings for global markets, which have been rocked by dramatic hour-to-hour reversals in prior weeks as investors struggle to guess how high Russia’s invasion of Ukraine will send prices of oil, wheat and other commodities produced in the region. That’s raising the risk the economy may struggle under a toxic combination of persistently high inflation and stagnating growth. The Federal Reserve is expected to raise interest rates at its meeting next week.

Despite some positive moves by stocks early Friday, uncertainty about the next developments in the conflict in Ukraine and what the Fed will do likely kept investors in a selling mood heading into the weekend, said Willie Delwiche, investment strategist at All Star Charts.

“This remains a headline-driven market,” Delwiche said. “We’re in this environment where you get these exaggerated day to day swings, but you don’t make any progress.”

Early Friday, before Wall Street opened, the pendulum was swinging toward optimism. European stocks and U.S. stock futures rose abruptly after comments from Russian President Vladimir Putin that some analysts saw as surprisingly optimistic. Putin cited “certain positive developments” in negotiations with Ukraine, though he didn’t offer any details.

The S&P 500 opened with a 0.7% gain, but it quickly flipped to a loss after a reading on sentiment among U.S. consumers sank more than economists expected. Household expectations are rising for high inflation to remain in the near term, causing unease. The S&P ended down 55.21 points at 4,204.31.

The Dow fell 229.88 points to 32,944.19, while the Nasdaq fell 286.15 points to 12,843.81 after losing an early gain of 0.8%. The Russell 2000 index of smaller companies fell 32 points, or 1.6%, to 1,979.67.

More swings are likely ahead for markets because so much uncertainty remains about the war in Ukraine and inflation. President Joe Biden announced Friday that along with the European Union and the Group of Seven countries, the U.S. will revoke “most favored nation” trade status for Russia. The move allows for tariffs on Russian imports.

Amid all the uncertainty, U.S. stocks remain about 10% below their peak from earlier this year, while crude oil prices remain more than 40% higher for 2022 so far.

A barrel of U.S. crude oil rose 3.1% to settle at $109.33. It briefly topped $130 earlier this week. Prices have sloshed around as worries about disrupted supplies joust with hopes for peace and the possibility that countries outside Russia could boost their production. Brent crude, the international standard, rose 3.1% to settle at $112.67 per barrel.

Markets were already on edge before Russia’s invasion, as central banks are set to raise interest rates and remove support for the economy put in place after the pandemic. The Federal Reserve and other central banks hope to stamp out the highest inflation in generations, though they also risk causing a recession if they raise rates too high or too quickly.

The wide expectation is for the Federal Reserve to raise its key short-term interest rate by a quarter of a percentage point next week, which would be the first increase since 2018. The yield on the 10-year Treasury has climbed back to around 2% to return to where it was in February, before worries about the war in Ukraine sent it tumbling below 1.70%.

Inflation has surged high enough that politicians around the world know they may be in trouble because of it.

Brazil’s state-run oil company Petrobras on Friday increased its prices of fuels sold to its distributors by as much as 25%, citing the war between Russia and Ukraine, as official data showed inflation accelerated in February.

The company said in a statement announcing the increase the prior day that for weeks it refrained from passing on costs, but consistently high oil prices forced the adjustment to ensure supply to the Brazilian market.

In the U.S., a report on Thursday showed prices at the consumer level leaped 7.9% last month from the prior year, the hottest inflation rate since 1982. It’s likely to get worse in the near term due to oil’s surge following the war and all the financial penalties the U.S. and allies imposed on Russia.

Biden has said he wants to limit the economic pain for U.S. households but acknowledged that “defending freedom” incurs costs.


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## bigdog

ASX 200 expected to rise​ The Australian share market looks set to start the week on a positive note. This is despite a poor finish to last week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 20 points or 0.3% higher this morning. 

Stocks gave up early gains and closed broadly lower Friday, capping a turbulent week of trading on Wall Street as uncertainty about the war in Ukraine and surging inflation continue to roil markets.

On Wall Street, the Dow Jones fell 0.7%, the S&P 500 dropped 1.3%, and the Nasdaq tumbled 2.2%.


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## bigdog

https://apnews.com/article/russia-u...na-hong-kong-758fd68186989e3d9c50861975e618bd

*Stocks sway lower and crude oil slides to $100 per barrel*

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Stocks lost more ground, crude oil prices fell and bond yields rose sharply Monday as anxiety over the war in Ukraine and an upcoming Federal Reserve meeting on interest rates keep global financial markets on edge.

The S&P 500 gave up an early gain and closed 0.7% lower after another choppy day of trading on Wall Street. The Dow Jones Industrial Average closed essentially flat and the Nasdaq composite fell 2%. The pullback came as the yield on the 10-year Treasury touched its highest level since the summer of 2019.

Elsewhere around the world, markets pulled in opposing directions. European markets climbed, while stocks fell sharply in Hong Kong after the neighboring city of Shenzhen was ordered into a shutdown to combat China’s worst COVID-19 outbreak in two years. Oil prices tumbled to take some pressure off the high inflation sweeping the world, with a barrel of U.S. crude falling toward $100 after touching $130 last week.

Markets have careened in recent weeks amid uncertainty about whether the economy may be heading for a toxic combination of stagnating growth and persistently high inflation. Russia’s invasion of Ukraine has caused prices to surge for oil, wheat and other commodities produced in the region. That in turn has led to sharp day-to-day and hour-to-hour reversals across markets, as expectations for worsening inflation rise and fall.

On Monday, negotiators from Russia and Ukraine met over video conference for a new round of talks, after the two sides expressed some optimism in the past few days. The talks ended without a breakthrough after several hours. The negotiators took “a technical pause,” Ukrainian presidential aide Mykhailo Podolyak said, and planned to meet again Tuesday.

Investors were already uneasy before the war began because central banks around the world are preparing to shut off the stimulus they pumped into the global economy after the pandemic struck. The Federal Reserve’s policymaking committee is meeting this week, for example.

“You’re seeing pretty muted trading today and people aren’t going to get too short or long ahead of the Fed,” said Jay Hatfield, CEO of Infrastructure Capital Advisors. “We expect the market to stay pretty range-bound until the Fed meeting on Wednesday.”

The wide expectation is that it will raise its key short-term interest rate by a quarter of a percentage point on Wednesday. It would be the first increase since 2018, and it would pull the federal funds rate off its record low of nearly zero.

“Finally, the Fed gets moving,” economists at BofA Global Research wrote in a report. Besides raising short-term rates, the Fed may also give more details about how it will put into reverse the massive bond-buying program it ran during the pandemic to keep long-term rates low, the economists wrote. The central bank bought trillions of dollars of bonds to shower the economy with cash.

Uncertainty about the next developments in the conflict in Ukraine and what the Fed will do this week has opened the market to daily swings as investors try to position themselves for whatever comes next. Last week, the S&P 500 marked its fourth losing week out of the last five.

On Monday, the benchmark index fell 31.20 points to 4,173.11, while the Dow inched up 1.05 points after wobbling between small gains and losses earlier, leaving it essentially unchanged at 32,945.24. The Nasdaq fell 262.59 points to 12,581.22.

Small company stocks also fell. The Russell 2000 index slid 37.95 points, or 1.9%, to 1,941.72.

The Fed’s moves this week are likely to be the first in a long march to raise interest rates and slow the economy enough to stamp out the highest inflation to hit the United States in 40 years.

The yield on the 10-year Treasury jumped to 2.14% from 2.00% late Friday after earlier touching its highest level since July 2019. The two-year yield, which moves more on expectations for Fed policy changes, rose to 1.86% from 1.75%.

The Fed faces twin dangers, though. If it raises rates too quickly or too high, it would cause a recession. If it’s too passive, high inflation could become more permanent.

The war in Ukraine makes the balancing act even more difficult. It’s pushing inflation higher by raising prices for everything from nickel to natural gas. And it’s threatening to pull down on economic growth. That’s why the S&P 500 is coming off its fourth weekly loss in the last five, while crude oil prices are up by roughly a third for 2022 so far.

Oil prices gave back a lot of those gains on Monday, though, as coronavirus worries came back to the fore. A barrel of U.S. oil slid 5.8% to settle at $103.01. Brent crude, the international standard, fell 5.1% to settle at $106.90.

Spreading virus outbreaks in China could hit demand for energy and compound worries over supply chain disruptions both from the pandemic and from the war.

“Crude oil is going to move in this pretty wide range until we get more clarity on Ukraine,” Hatfield said.

A vital manufacturing and technology hub of 17.5 million people, Shenzhen is home to some of China’s most prominent companies, including telecom equipment maker Huawei Technologies Ltd., electric car brand BYD Auto, Ping An Insurance Co. and Tencent Holding, operator of the popular WeChat message service.

Foxconn, supplier to Apple and other electronics brands, said it had suspended factory lines in Shenzhen due to the shutdown. In a notice to Taiwan’s stock exchange, its listed company Hon Hai Precision Industry, the world’s largest contract manufacturing company, said it did not expect the suspension to have a major impact on its business.

The Hang Seng index in Hong Kong fell 5%, with the exchange’s tech index dropped 11%. Stocks in Shanghai lost 2.6%.

Roughly 55% of stocks in the S&P 500 fell, with technology companies weighing down the benchmark index the most. Apple fell 2.7% and chipmaker Nvidia slid 3.5%.

Nielsen soared 30.5% for the biggest gain in the S&P 500 following a published report saying a group of private equity firms are in advanced talks to buy the TV-ratings company.

ASX 200 expected to sink​ The Australian share market looks set to give back the majority of yesterday’s gains on Tuesday. This follows a volatile start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 75 points or 1.05% lower.

NYSE stocks lost more ground, crude oil prices fell and bond yields rose sharply Monday as anxiety over the war in Ukraine and an upcoming Federal Reserve meeting on interest rates keep global financial markets on edge.

On Monday, the S&P 500 index fell 31.20 points to 4,173.11, while the Dow inched up 1.05 points after wobbling between small gains and losses earlier, leaving it essentially unchanged at 32,945.24. The Nasdaq fell 262.59 points to 12,581.22.

The S&P 500 gave up an early gain and closed 0.7% lower after another choppy day of trading on Wall Street. The Dow Jones Industrial Average closed essentially flat and the Nasdaq composite fell 2%. The pullback came as the yield on the 10-year Treasury touched its highest level since the summer of 2019.


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## bigdog

https://apnews.com/article/russia-u...ness-bangkok-55d48b98423517c5d75a2d83a03f1f67

*Stocks rally on Wall Street as oil prices keep falling*

By STAN CHOE and ALEX VEIGA

Technology companies led stocks broadly higher on Wall Street Tuesday, as oil prices slid sharply for the second day and inflation worries ebbed. The market rally came a day ahead of the Federal Reserve’s highly anticipated interest rate policy update.

The S&P 500 rose 2.1%, ending a three-day losing streak, after a report showed inflation’s rapid acceleration paused at the wholesale level last month. The Dow Jones Industrial Average rose 1.8% and the tech-heavy Nasdaq composite rose 2.9%.

The wilder action was in oil and Asian stock markets, where tightened anti-COVID measures in China are raising worries about demand for energy and about disruptions to manufacturing and global trade. Oil prices tumbled more than 6%, taking some pressure off the world’s high inflation, and a barrel of U.S. crude fell below $97 after starting the week above $109. Stocks in Hong Kong sank more than 5% for a second straight day after the neighboring city of Shenzhen was ordered into a shutdown.

Renewed COVID-19 worries come on top of a lengthy list of concerns for markets, which have caused wild hour-to-hour swings in recent weeks. The war in Ukraine catapulted prices for oil, wheat and other commodities the region produces. That’s raising the threat that already high inflation will persist and combine with a potentially stagnating economy.

Some cautious optimism about the latest round of talks between Russia and Ukraine may have helped put traders in a buying mood. Ukrainian presidential aide Ihor Zhovkva said discussions via video held by representatives of the two nations Tuesday were “more constructive,” noting that Russia has stopped airing its demands for Ukraine to surrender.

“If ever so slight, at least there’s still building optimism regarding Ukraine, combined with optimism regarding inflation, oil in particular, and optimism that the Fed will not be more hawkish than is already built into the market,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 rose 89.34 points to 4,262.45. The Dow gained 599.10 points to 33,544.34, and the Nasdaq rose 367.40 points to 12,948.62.

Smaller company stocks also gained ground. The Russell 2000 index rose 27.25 points, or 1.4%, to 1,968.97.

Central banks around the world are preparing to pull the plug on the support they poured into the global economy after the pandemic struck. The Fed began a two-day meeting on interest rates, and the wide expectation is that it will announce on Wednesday an increase of 0.25 percentage points to its key short-term rate.

That would be the first increase since 2018, pulling it off its record low of nearly zero, and likely the first in a series of rate hikes. The Fed is trying to slow the economy enough to tamp down the high inflation sweeping the country, but not so much as to trigger a recession.

Inflation is already at its highest level in generations, and the most recent numbers don’t even include the surge in oil prices that occurred after Russia invaded Ukraine.

Data released Tuesday showed inflation was still very high at the wholesale level last month, but at least it wasn’t accelerating. Producer prices were 10% higher in February from a year earlier, the same rate as in January. On a month-to-month basis, inflation rose 0.8% in February from January, versus forecasts for 0.9%. That’s a slowdown from January’s 1.2% month-over-month inflation.

So the numbers are still very high and will keep the Fed on track to raise rates on Wednesday, economists said, but at least they weren’t worse than expected.

A separate survey by the Federal Reserve Bank of New York showed that manufacturing in the state declined for the first time since early in the pandemic. A weakening economy could make the Federal Reserve less aggressive about raising rates.

Treasury yields dipped immediately after the reports, then edged higher by afternoon. The yield on the 10-year Treasury rose to 2.15% from 2.14% late Monday. The two-year yield, which moves more on expectations for Fed policy changes, fell to 1.86% from 1.87%.

Also helping to pull down yields were the tumbling oil prices. A barrel of U.S. crude dropped 6.4% to settle at $96.44. It had briefly topped $130 last week when worries about disruptions to supplies because of the war in Ukraine were at their height. Brent crude, the international standard, fell 6.5% to settle at $99.91 per barrel.

A reprieve on fuel prices helped a wide variety of stocks, and the majority of companies in the S&P 500 were rising. Airlines led the way after several raised their forecasts for revenue this quarter. American Airlines, Delta Air Lines and United Airlines all soared 8% or more.

Tech and other high-growth stocks also recovered some of their earlier losses as Treasury yields fell. Higher interest rates can hurt such stocks more than others because they’re seen as more expensive relative to their earnings.

In overseas stock markets, European indexes were down modestly. Stocks in Shanghai slumped 5% and Hong Kong’s Hang Seng lost 5.7% despite the release of data showing strong increases in Chinese retail sales, industrial production and investment in January-February. It followed a decision by China’s central bank not to ease interest rates to spur economic growth.

Shares in Hong Kong have sunk to near six-year lows after the neighboring city of Shenzhen was ordered into a shutdown to combat China’s worst COVID-19 outbreak in two years.

“Fears continue to dog stock markets that lockdowns could spread, which would severely impact China’s growth,” Jeffrey Halley of Oanda said in a commentary.

In other developments, the London Metal Exchange said trading in nickel will resume Wednesday, just over a week after it was suspended when the price of the metal skyrocketed to over $100,000 per ton.

The announcement followed a notice from Tsingshan Holding Group, a Chinese metals giant, that it had struck a deal with its creditors on a “standstill arrangement” such that the banks would not make margin calls or close out their positions against the company while it is resolving its nickel margin and settlement requirements.

Russia is the world’s No. 3 producer of nickel. Its price and that of many other commodities has surged on speculation over possible disruptions to supplies as Russia contends with widening economic sanctions following its invasion of Ukraine.

ASX 200 expected to rise​ It looks set to be a better day for the Australian share market on Wednesday following a strong night in the US. According to the latest SPI futures, the ASX 200 is expected to open the day 30 points or 0.4% higher this morning.

Technology companies led stocks broadly higher on Wall Street Tuesday, as oil prices slid sharply for the second day and inflation worries ebbed. The market rally came a day ahead of the Federal Reserve’s highly anticipated interest rate policy update.

The S&P 500 rose 2.1%, ending a three-day losing streak, after a report showed inflation’s rapid acceleration paused at the wholesale level last month. The Dow Jones Industrial Average rose 1.8% and the tech-heavy Nasdaq composite rose 2.9%.


----------



## bigdog

https://apnews.com/article/russia-u...-asia-europe-78b45cd54ec5594ecd289d97c3d6b923

*Stocks, yields end higher after Fed raises interest rates*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks reversed an afternoon fade and closed broadly higher Wednesday after the Federal Reserve announced its first interest rate hike since 2018.

As Wall Street largely anticipated, the central bank announced it was increasing its key short-term rate by 0.25 percentage points. The Fed, which has kept its rate near zero since the pandemic recession struck two years ago, also signaled potentially up to seven rate hikes this year.

The move marks a shift in policy by the Fed away from maintaining ultra-low interest rates as it seeks to tame inflation, which is running at the highest level since the early 1980s. Rate hikes eventually result in higher loan rates for many consumers and businesses.

Stocks lost most of their early gains and bond yields rose sharply shortly after the 2 p.m. Eastern release of the Fed’s latest policy statement. The indexes wavered as Fed Chair Jerome Powell delivered remarks during a press conference before surging in the final hour of trading.

The S&P 500 rose 2.2%, the Dow Jones Industrial Average gained 1.5% and the Nasdaq composite climbed 3.8%, its biggest gain since November 2020.

Bond yields rose sharply after the Fed’s announcement. The yield on the 10-year Treasury rose to 2.20%, then hovered at 2.17% by late afternoon. It was at 2.15% late Tuesday. The 2-year Treasury yield rose to 2% then eased back to 1.94%, still a big move from 1.85% a day earlier.

“The market got what it expected,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab. “Interest rates need to be higher. Inflation needs to be under control, and the risk to everything is a lot greater from high inflation than it is from high interest rates.”

The Fed is trying to slow the economy enough to tamp down the high inflation sweeping the country, but not so much as to trigger a recession. It is part of a larger movement by central banks around the world to pull the plug on the support they poured into the global economy after the pandemic struck.

Inflation has hit its highest level in generations as the global economy recovers. Economists worry that could eventually curtail spending and hurt growth. The latest retail sales report from the Commerce Department shows that Americans slowed their spending in February on gadgets, home furnishings and other discretionary items as higher prices for food, gasoline, and shelter are eating up more of their wallet.

In remarks after the release of the central bank’s statement, Powell noted that before the Russian invasion of Ukraine he had expected inflation would stabilize within the first three months of this year. He now believes inflation will come down in the second half of the year.

“We are now seeing short-term upward inflation in oil prices, other commodities prices,” he said. “You’re seeing supply chains around shipping and lots of countries and companies not wanting to touch Russian goods —- that means more tangled supply chains.”

The S&P 500 rose 95.41 points to 4,357.86. The Dow added 518.76 points to 34,063.10. The Nasdaq gained 487.93 points to 13,436.55.

Small company stocks also notched solid gains. The Russell 2000 index rose 61.75 points, or 3.1%, to 2,030.72.

A list of concerns including inflation have made for volatile markets over the last few weeks. Stocks have been swaying sharply on a daily, sometimes hourly basis. That volatility will likely remain until investors get a better sense of where the economy is headed.

“It’s not uncommon for hiking cycles to spook stocks,” said Gargi Chaudhuri, head of iShares Investment Strategy Americas. “But as the path forward becomes clearer, most sectors in the S&P 500 index muster positive returns in the year that follows the first hike.”

Even so, the combination of higher rates and inflation represent a risk for the economy, noted Chris Zaccarelli, chief investment officer for Independent Advisor Alliance.

“The stock market is vulnerable to the dual threats of too-high inflation, which will put a damper on corporate profits and consumer demand, and too-high interest rates, which could cause a recession,” he said.

Oil prices have mostly surged since late February amid concerns that the conflict in Ukraine will squeeze energy markets. Benchmark U.S. crude fell 1.5%, a relatively subdued move considering the gigantic swings it has made recently. Prices are up nearly 30% for the year, and the recent surge has pushed gas prices in the U.S. to record highs. That has increased concerns that inflation could worsen.

Technology stocks, banks, retailers and other companies that rely on consumer spending accounted for much of the S&P 500′s gains as investors shifted money into sectors that are considered riskier. Microsoft rose 2.9%, JPMorgan Chase added 4.5% and Amazon.com gained 3.9%. Energy companies and traditionally safe-play stocks, such as utilities, lagged the broader market.

ASX 200 expected to rise again​ The Australian share market is poised to rise again on Thursday following a strong night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 75 points or 1% higher this morning.

Stocks reversed an afternoon fade and closed broadly higher Wednesday after the Federal Reserve announced its first interest rate hike since 2018.

 As Wall Street largely anticipated, the central bank announced it was increasing its key short-term rate by 0.25 percentage points. The Fed, which has kept its rate near zero since the pandemic recession struck two years ago, also signaled potentially up to seven rate hikes this year.

The S&P 500 rose 2.2%, the Dow Jones Industrial Average gained 1.5% and the Nasdaq composite climbed 3.8%, its biggest gain since November 2020.

The S&P 500 rose 95.41 points to 4,357.86. The Dow added 518.76 points to 34,063.10. The Nasdaq gained 487.93 points to 13,436.55.


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## bigdog

https://apnews.com/article/russia-u...-sydney-asia-5d6f384316252d30b70ede403b899f81

*US stocks extend rally even as oil climbs back above $100*

By STAN CHOE and ALEX VEIGA

Wall Street is extending a rally into a third day Thursday even as oil prices jump back above $100, upping the pressure on inflation.

The S&P 500 was 0.8% higher, with 75% of the stocks in the benchmark index rising. That follows gains of more than 2% in each of the prior two days for its best back-to-back performance in nearly two years.

The Dow Jones Industrial Average was up 246 points, or 0.8%, at 34,307, as of 2:35 p.m. Eastern time, and the Nasdaq composite was 0.9% higher. All three indexes had wavered between small gains and losses in the morning following better-than-expected reports on the U.S. economy.

They’re the latest swings for markets as investors struggle to handicap what will happen to the economy and the world’s already high inflation because of Russia’s invasion of Ukraine, higher interest rates from central banks around the world and renewed COVID-19 worries in various hotspots.

A barrel of U.S. crude oil jumped 7.9% to $102.59, while Brent crude, the international standard, leaped 8.6% to $106.43 per barrel. Such moves have become the norm recently, as prices careen on uncertainties about both supplies of and demand for oil. After briefly topping $130 early last week, a barrel of U.S. crude went almost all the way down to $94 on Wednesday.

Dribbles of news about the state of negotiations between Russia and Ukraine have caused many of the sharp reversals. So too recently have worries about economic shutdowns in China because of surges in COVID-19 infections, which could hit demand for energy.

On Thursday, the Chinese government said companies in Shenzhen, a major business center, will be allowed to reopen while efforts to contain coronavirus outbreaks progress. Their earlier closures had rattled financial markets. That followed a promise on Wednesday to “invigorate the economy” with market-friendly policies.

The Hang Seng stock index in Hong Kong, which neighbors Shenzhen, surged 7% to continue a wild run. Earlier this week, it went from a 5% drop to a 5.7% plunge to a 9.1% surge.

All the frenetic movements are coming amid uncertainty about whether the economy is heading for a painful combination of stagnating growth and persistently high inflation.

Behind it all, the Federal Reserve and other central banks are trying to slow the economy enough to snuff out high inflation but not so much as to cause a recession. The Bank of England has been one of the most aggressive, and it raised its key interest rate on Thursday for the third time since December. A day earlier, the Fed raised its key rate for the first time since 2018.

It’s a delicate dance, and the surge in U.S. stock prices on Wednesday seems to indicate some investors see it succeeding.

“Far from choking off growth, the start of the Fed tightening cycle seems to have been greeted warmly,” Chris Turner and Francesco Pesole of ING said in a report. “Investors are cheering measures to address high inflation.”

A wave of better-than-expected reports on the U.S. economy Thursday may also have helped. Fewer workers applied for unemployment claims last week, and builders broke ground on more homes last month than economists expected. A third report, meanwhile, showed that manufacturing in the mid-Atlantic region was stronger than expected. That potentially eased some of the worry from an earlier report that showed the weakest activity in New York state since early in the pandemic.

A fourth report said industrial production slowed last month but still rose as much as economists expected.

Energy stocks jumped to some of the U.S. stock market’s biggest gains on the back of the resurgent oil prices, helping to keep the S&P 500 as stable as it was.

Occidental Petroleum surged 8.4% after Berkshire Hathaway, the company run by famed investor Warren Buffett, upped its stake in the company. Cheniere Energy rose 1.8% after the U.S. Department of Energy gave it permission for additional sales of liquefied natural gas to every country entirely in Europe as they seek to move away from Russian energy products.

More expensive fuel costs hit travel companies, though, and airlines were some of the heaviest weights on the market. Delta Air Lines lost 0.6%. Cruise operator Carnival fell 1.7%.

Treasury yields were mixed. The yield on the 10-year Treasury fell to 2.18% from 2.19% late Wednesday.

ASX 200 expected to rise​The Australian share market looks set to end the week on a positive note following a decent night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 38 points or 0.5% higher this morning.

Wall Street is extending a rally into a third day Thursday even as oil prices jump back above $100, upping the pressure on inflation.

The S&P 500 was 0.8% higher, with 75% of the stocks in the benchmark index rising. That follows gains of more than 2% in each of the prior two days for its best back-to-back performance in nearly two years.

The Dow Jones Industrial Average was up 246 points, or 0.8%, at 34,307, as of 2:35 p.m. Eastern time, and the Nasdaq composite was 0.9% higher. All three indexes had wavered between small gains and losses in the morning following better-than-expected reports on the U.S. economy.


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## bigdog

https://apnews.com/article/russia-u...covid-health-e889079170862ab553bacf41c9fc513a

*Stocks extend rally, notching biggest weekly gain since 2020*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks recovered from an early slide on Wall Street and closed broadly higher Friday, notching their biggest weekly gain in 16 months.

The S&P 500 rose for the fourth straight day, adding 1.2% to a streak that included back-to-back days with gains of 2%. The Dow Jones Industrial Average rose 0.8%, while the Nasdaq composite rose 2%. The three indexes each had their best week since November 2020.

This week’s market rally came as Wall Street drew encouragement from the Federal Reserve, which announced its first interest rate hike since 2018 and signaled several more to come. The move, which had been widely expected for months by the market, sends a message that the central bank is focused on fighting the highest inflation in decades. Fed Chair Jerome Powell also stressed confidence that the economy is strong enough to withstand higher interest rates.

The Fed’s action and economic outlook helped give markets a better sense of what to expect going forward, said Bill Northey, senior investment director at U.S. Bank Wealth Management.

“This resulted, to a certain extent, in a relief in the stock market that has ridden that over the course of the past several days,” he said.

Stocks also got a boost as the price of U.S. crude oil, which briefly topped $130 a barrel last week amid concerns that the conflict in Ukraine will squeeze energy markets, eased briefly below $94 a barrel on Wednesday and has since been hovering below $110 a barrel.

The S&P 500 rose 51.45 points to 4,463.12, bringing its weekly gain to 6.2%. The Dow gained 274.l7 points to 34,754.93, and the Nasdaq added 279.06 points to 13,893.84.

Smaller company stocks also gained ground. The Russell 2000 index rose 21.12 points, or 1%, to 2,086.14.

The broader market has been volatile over the last few weeks as investors consider a number of concerns including inflation and Russia’s invasion of Ukraine. Major indexes are down for the year in a sharp reversal from solid gains over the last several years.

“That macro picture is not going to change, it’s going to take weeks and months,” said Jason Draho, head of asset allocation for the Americas at UBS Global Wealth Management. “Nothing in the past few days is going to alter that.”

Russia’s invasion Ukraine has weighed heavily on markets as investors try to gauge how the conflict could impact global economic growth. Markets in Europe have been particularly sensitive to the war and were mostly lower on Friday. Oil prices have been extremely volatile and U.S. benchmark crude oil remains above $100. Energy prices were relatively stable on Friday, with U.S. crude oil settling at $104.70 per barrel and Brent crude, the international standard, settling at $107.93 per barrel.

The ongoing war in Ukraine continues to drive sentiment after Ukrainian President Volodymyr Zelenskyy called for more help for his country after days of bombardment of civilian sites. Wall Street is also still concerned about rising interest rates, along with surging COVID-19 cases in China and Europe.

High energy prices are only adding to worries about inflation and whether the squeeze on consumers will eventually crimp spending and economic growth.

Rising inflation has prompted central banks to rethink their low interest-rate policies. The Bank of England has been one of the most aggressive, and it raised its key interest rate on Thursday for the third time since December. The Federal Reserve announced a 0.25% increase on its key interest rate on Wednesday. It is the first rate hike since 2018 and is expected to be followed by more this year as the Fed tries to tame inflation.

Friday’s gains were broad. Technology and communication stocks, retailers, automakers and other companies that rely on consumer spending helped lift the market. Chipmaker Nvidia climbed 6.8%, Facebook parent Meta rose 4.2% and Tesla rose 3.9%. Only utilities stocks fell.

Bond yields fell. The yield on the 10-year Treasury slipped to 2.14% from 2.19% late Thursday.

Several stocks made big moves after releasing their latest financial results and updates. FedEx fell 4% after its fiscal third-quarter earnings fell short of Wall Street forecasts. U.S. Steel slid 4.6% after giving investors a disappointing profit forecast.


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## bigdog

ASX 200 expected to push higher​The Australian share market looks set to start the week on a positive note. This follows a strong finish to last week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 59 points or 0.8% higher this morning.

Stocks recovered from an early slide on Wall Street and closed broadly higher Friday, notching their biggest weekly gain in 16 months.


The S&P 500 rose for the fourth straight day, adding 1.2% to a streak that included back-to-back days with gains of 2%. The Dow Jones Industrial Average rose 0.8%, while the Nasdaq composite rose 2%. The three indexes each had their best week since November 2020.


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## bigdog

https://apnews.com/article/russia-u...-sydney-asia-32b5c8de12377a4467c3010e89aea2c9

*Stocks turn lower on Wall Street after best week since 2020*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks capped a day of choppy trading on Wall Street with a modestly lower finish Monday, giving back some of their recent gains after the major indexes notched their best week in more than a year.

The S&P 500 slipped less than 0.1% after giving up an early gain and bouncing around for much of the day. The Dow Jones Industrial Average fell 0.6%, while the Nasdaq composite slid 0.4%.

The indecisive trading came a day after the market posted its best week since November 2020 and as Federal Reserve Chair Jerome Powell said the central bank was prepared to move more aggressively if need be to contain inflation.

Bond yields rose sharply following Powell’s remarks. The yield on the 10-year Treasury jumped to 2.30% from 2.14% late Friday.

“Powell’s comments and the bond market’s reaction to that put some pressure on the stock market today,” said Willie Delwiche, investment strategist at All Star Charts.

The S&P 500 fell 1.94 points to 4,461.18, snapping a four-day winning streak for the benchmark index. The Dow dropped 201.94 points to 34,552.99, and the Nasdaq slid 55.38 points to 13,838.46.

Smaller company stocks fared worse than the broader market. The Russell 2000 index lost 20.21 points, or 1%, to 2,065.94.

In remarks at the National Association of Business Economists, Powell said the Fed would raise its benchmark short-term interest rate by a half-point at multiple Fed meetings, if necessary, to slow inflation. The Fed hasn’t raised its benchmark rate by a half-point since May 2000.

Last Wednesday, the central bank announced a quarter-point rate hike, its first interest rate increase since 2018. Stocks rallied after the announcement and went on to have their best week in more than a year. The central bank is expected to raise rates several more times this year.

Before Russia’s invasion of Ukraine added a new wave of global economic uncertainty to the mix, some Fed officials had said the central bank would do better to begin raising rates by a half-point in March. Because Powell is now floating the possibility of a half-point increase, that could signal that such a move is on the table again.

“When the chairman says it, it kind of solidifies it,” Delwiche said.

Retailers and other companies that rely on consumer spending, and communication and technology stocks, were the biggest drag on the S&P 500 Monday. Home Depot slid 3.3%, Facebook parent, Meta Platforms, fell 2.3%, and Microsoft fell 0.4%.

Energy stocks made solid gains as oil prices gained ground. U.S. benchmark crude oil jumped 7.1% to settle at $112.12 per barrel, while Brent, the international standard, climbed 7.1% to settle at $115.62. Exxon Mobil gained 4.5%.

Investors face a fairly quiet week without much economic data to give them a better sense of how companies and investors are dealing with rising inflation.

The Fed’s move to raise interest rates had been expected for months as supply chain problems brought on by surging demand pushed prices of everything from food to clothing higher. That has raised concerns that consumers might eventually curtail some spending, which could prompt a more severe economic slowdown than analysts anticipate.

Russia’s invasion of Ukraine added to concerns that inflation could worsen by pushing energy and commodity prices higher. Oil prices are up more than 45% this year and prices for wheat and corn have also surged.

Outside of those broader concerns, several stocks made big moves on company-specific news. Alleghany, a reinsurance company, soared about 25% after agreeing to be bought by Warren Buffett’s Berkshire Hathaway. Media ratings agency Nielsen slid 6.9% after rejecting an acquisition offer.

Boeing fell 3.6% after one of its planes crashed in China with 132 people on board.

ASX 200 expected to rise​The Australian share market looks set to rise today despite a poor night of trade in the US. According to the latest SPI futures, the ASX 200 is poised to open the day 78 points or 1.05% higher.

Stocks capped a day of choppy trading on Wall Street with a modestly lower finish Monday, giving back some of their recent gains after the major indexes notched their best week in more than a year.

The S&P 500 slipped less than 0.1% after giving up an early gain and bouncing around for much of the day. The Dow Jones Industrial Average fell 0.6%, while the Nasdaq composite slid 0.4%.

The S&P 500 fell 1.94 points to 4,461.18, snapping a four-day winning streak for the benchmark index. The Dow dropped 201.94 points to 34,552.99, and the Nasdaq slid 55.38 points to 13,838.46.


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## bigdog

https://apnews.com/article/russia-ukraine-business-china-asia-japan-44827f87d56925174e76d61fdc0b253d

*Stocks gain ground on Wall Street, oil prices ease lower*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies led a rally for stocks on Wall Street Tuesday, as the market more than made up for a modest pullback to start the week.

The S&P 500 rose 1.1%, with more than 70% of stocks in the benchmark index notching gains. The Dow Jones Industrial Average rose 0.7% and the tech-heavy Nasdaq composite climbed 2%.

Bond yields rose sharply for the second day in a row, reflecting expectations of more aggressive interest rate hikes by the Federal Reserve as the central bank moves to squelch the highest inflation in decades. The yield on the 10-year Treasury climbed to 2.38% from 2.30% late Monday. The yield, which influences interest rates on mortgages and other consumer loans, was at 2.14% late Friday.

The rise in bond yields and stocks comes a day after Federal Reserve Chair Jerome Powell said the central bank was prepared to move more aggressively in raising interest rates in its fight against inflation, if it needs to do so. Powell said the Fed would raise its benchmark short-term interest rate by a half-point at multiple Fed meetings, if necessary.

“Maybe investors are feeling that with the Fed taking more of a proactive approach early on it won’t have to slam on the brakes later,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 rose 50.43 points to 4,511.61, and the Dow gained 254.47 points to 34,807.46. The Nasdaq rose 270.36 points to 14,108.82.

Smaller company stocks also bounced back. The Russell 2000 index added 22.41 points, or 1.1%, to 2,088.34.

Concerns about rising inflation and slower economic growth have been weighing down stocks so far in 2022, but a rally last week helped trim some of the benchmark S&P 500′s losses for the year. The index is now down 5.3%.

Markets have been choppy as Wall Street adjusts to slower economic growth now that federal spending on various stimulus measures has faded away.

“This is actually fairly normal, but it doesn’t feel normal because the last few years have been really strong,” said Matt Stucky, senior portfolio manager at Northwestern Mutual Wealth.

Last Wednesday, the central bank announced a quarter-point rate hike, its first interest rate increase since 2018. The Fed hasn’t raised its benchmark rate by a half-point since May 2000.

“What has been a frustrating inflation setup for the Federal Reserve is likely getting more complex given the geopolitical conflict,” Stucky said.

Investors’ concerns about persistently rising inflation has been worsened by Russia’s war in Ukraine. Energy and commodity prices were already high as demand outpaced supply amid the global economic recovery, but the conflict has pushed oil, wheat and other prices even higher.

Rising raw material costs and shipping problems have made it more expensive for businesses to operate. Many of those costs have been passed on to consumers and higher prices for food, clothing and other goods could result in less spending and slower economic growth.

Technology and communications stocks drove a big share of the gains in the S&P 500 Tuesday, as did companies that rely on consumer spending. Apple rose 2.1% and Twitter gained 2.6%. Nike added 2.2% after reporting surprisingly good third-quarter financial results. Energy stocks slipped as oil prices declined.

Banks helped send the market higher as bond yields continued rising. Higher bond yields allow banks to charge more lucrative interest on loans. Bank of America rose 3.1% and JPMorgan Chase gained 2.1%.

The price of U.S. benchmark crude oil fell 0.3% to settle at $111.76 per barrel, while Brent, the international standard, slipped 0.1% to settle at $115.48 per barrel. European markets rose broadly, while Asian markets closed higher overnight.

Investors will soon start readying for the next round of corporate earnings reports as the current quarter nears its close at the end of March, and that could provide a clearer picture of how industries continue handling rising costs.

ASX 200 expected to rise again​ It looks set to be another strong day for the Australian share market on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 25 points or 0.35% higher this morning.

Technology companies led a rally for stocks on Wall Street Tuesday, as the market more than made up for a modest pullback to start the week.

The S&P 500 rose 1.1%, with more than 70% of stocks in the benchmark index notching gains. The Dow Jones Industrial Average rose 0.7% and the tech-heavy Nasdaq composite climbed 2%.


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## bigdog

https://apnews.com/article/russia-u...ogy-business-b443cad0388d16c694a2281931f91d43

*Stocks fall on Wall Street as crude oil prices climb again*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks fell broadly on Wall Street and crude oil prices rose sharply again Wednesday, as a wave of selling all but wiped out gains from a day before and left the S&P 500 and Dow Jones Industrial Average in the red for the week.

The S&P 500 fell 1.2%, with more than 80% of the stocks in the benchmark index closing lower. The Dow and Nasdaq composite each slid 1.3%.

After a strong rally last week, the market has been up and down this week as investors weigh concerns about rising inflation and slower economic growth now that federal spending on various stimulus measures has faded away and the central bank has signaled several interest rate hikes to come this year as it battles surging inflation.

Concerns on Wall Street about persistently high inflation have been elevated since Russia’s invasion of Ukraine sent energy and other commodity prices even higher. Crude oil prices have been volatile over concerns that the conflict will exacerbate an already tight market. The fluctuation in prices has been pushing and pulling the broader stock market.

“The market was a bit oversold maybe a few weeks ago and since the bounce has been pretty tremendous,” said Ross Mayfield, investment strategy analyst at Baird. “What the market is doing is trying to find a level where it’s balancing the risks that remain out there with the upside tail winds.”

The S&P 500 fell 55.37 points to 4,456.24. The Dow slid 448.96 points to 34,358.50. Both indexes are now on pace for a weekly loss.

The Nasdaq fell 186.21 points to 13,922.60. Smaller company stocks also lost ground. The Russell 2000 fell 36.14 points, or 1.7%, to 2,052.21.

The selling was widespread, with technology, health care and financial stocks among the biggest weights on the S&P 500 index. Microsoft fell 1.5% and Abbott Laboratories slid 4.1%. Retailers and communications companies also lost ground.

Energy stocks rose as crude oil prices climbed more than 5%. Hess rose 4.6% for the biggest gain in the S&P 500.

Energy prices will likely remain volatile as the conflict continues. U.S. President Joe Biden is heading to Europe for an emergency NATO summit Thursday, where sanctions and the Russian oil embargo will likely top the agenda.

U.S. benchmark crude oil rose 5.2% to settle at $114.93 per barrel, while a barrel of Brent crude, the international standard, rose 5.3% to settle at $121.60. Prices are up more than 50% in 2022 so far, raising concerns about the impact on a wide range of consumer goods and consumer spending overall.

Many of the higher costs incurred by businesses have been passed on to consumers and higher prices for food, clothing and other goods could lead them to cut spending, resulting in slower economic growth. Central banks have been reacting by raising interest rates to try and counter the impact from inflation.

The Federal Reserve has already announced a 0.25% increase for its benchmark interest rate and is prepared to act more aggressively if necessary.

Bond yields have been rising overall as the market prepares for higher interest rates, but they eased back Wednesday. The yield on the 10-year Treasury fell to 2.29% from 2.37% from Tuesday.

Investors are preparing for the latest round of corporate earnings as the quarter comes to a close. Some companies are already giving updates.

Adobe fell 9.3% after giving investors a disappointing financial forecast and warned that halting sales in Russia and Belarus will impact its revenue. Metal manufacturer Worthington Industries slid 17% after reporting disappointing fiscal third-quarter profits.

Homebuilders fell sharply after the government reported that sales of new U.S. homes fell 2% in February from a downwardly revised sales total in January. While the number of resale homes on the market remains near record lows, favoring new homes, The decline comes as mortgage rates have been rising.

D.R. Horton slid 5.1% and Tri Pointe Homes fell 5.9%.

ASX 200 expected to fall​The Australian share market looks set to give back its gains on Thursday following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 47 points or 0.64% lower this morning.

Stocks fell broadly on Wall Street and crude oil prices rose sharply again Wednesday, as a wave of selling all but wiped out gains from a day before and left the S&P 500 and Dow Jones Industrial Average in the red for the week.

The S&P 500 fell 1.2%, with more than 80% of the stocks in the benchmark index closing lower. The Dow and Nasdaq composite each slid 1.3%.


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## bigdog

*The Russian stock market opened Thursday for limited trading under heavy restrictions for the first time since Moscow invaded Ukraine, coming almost a month after prices plunged and the market was shut down as a way to insulate the economy.*










*Look for my new thread 
"Russian stock market opens March 24 2022 first time since start of war"
*

https://apnews.com/article/russia-u...-sydney-asia-bc3803d928f2d539630ce6f877695da9

*US stocks close higher as choppy trading persists, oil slips*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies led a broad rally for stocks on Wall Street Thursday, reversing most of the major indexes’ losses from a day earlier and extending the market’s recent run of uneven trading.

The S&P 500 rose 1.4%, more than making up for its pullback a day earlier. More than 85% of the stocks in the benchmark index rose. The Dow Jones Industrial Average gained 1%, while the tech-heavy Nasdaq composite climbed 1.9%.

The latest gains pulled the S&P 500 out of the red for the week. The Nasdaq is also on pace for a weekly gain, while the Dow is down slightly for the week after the indexes alternated between gains and losses over the past few days.

“There’s a little bit of tug-of-war right now ... and investors are just looking for direction,” said Darrell Cronk, chief investment officer for wealth & investment management at Wells Fargo.

The S&P 500 rose 63.92 points to 4,520.16, while the Dow gained 349.44 points to 34,707.94. The Nasdaq climbed 269.23 to 14,191.84.

Small company stocks also rallied. The Russell 2000 rose 23.24 points, or 1.1%, to 2,075.44.

Technology stocks accounted for the biggest share by far of the gains in the S&P 500, followed closely by communication companies. Many Big Tech companies have outsized values that tend to sway the broader market in either direction. Chipmaker Nvidia vaulted 9.8% for the biggest gain in the S&P 500. Facebook parent, Meta, rose 2.9%.

Health care stocks also had some of the strongest gains. Insurers UnitedHealth Group rose 2% and Anthem gained 2.5%.

Stocks indexes have been up-and-down after coming off a strong rally last week. Investors are trying to gauge how the economy and corporate profits will be affected this year as the Federal Reserve moves to raise interest rates in order to tame surging inflation.

Russia’s invasion of Ukraine has added more uncertainty to the global economic outlook, driving energy and other commodity prices higher. The fluctuation in energy prices has been one factor pushing and pulling the broader stock market.

Crude oil prices slipped Thursday after jumping a day earlier. U.S. benchmark crude oil fell 2.3% to settle at $112.34 per barrel. A barrel of Brent crude, the international standard, fell 2.1% to settle at $119.03. Overall, global oil prices are up more than 50% in 2022 on persistently rising inflation and concerns about crimped supplies because of Russia’s invasion of Ukraine.

Investors around the world had their eye on NATO and European leaders, which held a summit Thursday. G-7 nations are restricting the Russian Central Bank’s use of gold in transactions and the U.S. announced new sanctions against Russian individuals and entities.

Dozens of nations, including the U.S. and much of Europe, say they’re united in seeking to “radically” reduce imports of Russian oil and gas.

Sanctions have so far gutted the Ruble’s value and prompted Russia’s stock exchange to close nearly a month ago. The exchange reopened Thursday under heavy restrictions to prevent the kind of massive selloff that occurred in anticipation of crushing financial and economic sanctions from Western nations.

Wall Street is monitoring the latest developments on the conflict as it tries to determine how much it could worsen inflation and potentially crimp global economic growth. Businesses and consumers have been facing increasing costs for materials and goods which has prompted central banks to raise interest rates in order to temper the impact from inflation.

Bond yields have been rising overall as the market prepares for higher interest rates. The yield on the 10-year Treasury rose to 2.36% from 2.31% late Wednesday.

“Markets are clearly signaling a deceleration in GDP growth and earnings growth,” Cronk said.

Investors received an encouraging update on the labor market’s continued recovery. The number of Americans applying for unemployment benefits last week fell to its lowest level in 52 years. The upbeat report adds to data earlier this month that showed employers added a robust 678,000 jobs in February, the largest monthly total since July.

ASX 200 expected to rise again​
The Australian share market looks set to end the week on a positive note following a strong night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 88 points or 1.21% higher this morning.

Technology companies led a broad rally for stocks on Wall Street Thursday, reversing most of the major indexes’ losses from a day earlier and extending the market’s recent run of uneven trading.

The S&P 500 rose 1.4%, more than making up for its pullback a day earlier. More than 85% of the stocks in the benchmark index rose. The Dow Jones Industrial Average gained 1%, while the tech-heavy Nasdaq composite climbed 1.9%.


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## bigdog

https://apnews.com/article/russia-u...tock-markets-dbf97d5a64673f53208a4253585a242d

*US stocks end mostly higher after another up-and-down day*

By DAMIAN J. TROISE and ALEX VEIGA

Major U.S. indexes closed mostly higher Friday, and several of them notched weekly gains, despite a recent run of daily swings on Wall Street as traders try to figure out what’s next for the economy.

The S&P 500 index rose 0.5% after spending the day veering between a gain of 0.6% and a 0.4% decline. The Dow Jones Industrial Average rose 0.4%, while the Nasdaq composite fell 0.2%.

The indexes alternated nearly every day this week between gains and losses. Investors are trying to suss out what’s next for inflation and the global economy as the repercussions of Russia’s invasion of Ukraine continue to play out.

The benchmark S&P 500 posted a 1.8% gain for the week. That follows a 6.2% rise last week. The tech-heavy Nasdaq and Dow have also posted a weekly gain now the past two weeks.

Bond yields rose significantly. The yield on the 10-year Treasury jumped to 2.48% from 2.34% late Thursday. Crude oil prices rose moderately after slipping earlier in the day.

“We’re still in this relatively neutral outlook right now, trying to digest what’s happening at the Federal Reserve, watching events in Russia-Ukraine and then getting ready for the first-quarter earnings season,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management.

The S&P 500 rose 22.90 points to 4,543.06. The Dow gained 153.30 points to 34,861.24, and the Nasdaq fell 22.54 points to 14,169.30.

Smaller company stocks also rose. The Russell 2000 index added 2.54 points, or 0.1%, to 2,077.98.

Banks and energy stocks accounted for a big share of the S&P 500′s gains. The rise in bond yields helped lift banks, which rely on higher yields to charge more lucrative interest on loans. Bank of America rose 1.5%.

Technology stocks fell and checked gains elsewhere in the market. Big technology companies have outsized values that tend to lend more weight in pushing the broader market higher or lower. Chipmaker Nvidia fell 1.6%.

The price for U.S. benchmark crude oil rose 1.4% to settle at $113.90 per barrel, while a barrel of Brent crude, the international standard, rose 1.4% to $120.65. Prices are still up about 50% globally for the year. The pickup in oil prices helped lift energy stocks. Exxon Mobil gained 2.2%.

Oil prices have been volatile since Russia’s war against Ukraine began in February. Russia is the second-biggest crude exporter. Energy prices were already high, but the conflict has raised concerns about a worsening supply crunch that could maker persistently rising inflation even worse.

The U.S. and Europe announced a partnership Friday to reduce the continent’s reliance on Russian energy in hopes of further isolating Moscow for its aggression. Russia has threatened to make Europe pay for natural gas exports in rubles, which has seen its value gutted because of sanctions and other actions. Russia’s economy has been battered as governments cut it off from international banking and commerce.

The conflict in Russia has added to global concerns about rising inflation and the potential for economic growth to slow even more than anticipated. A survey on Friday showed that business confidence in Germany, Europe’s largest economy, dropped sharply in March because of conflict in Ukraine.

Central banks, including the Federal Reserve, are moving to raise interest rates to try and temper the impact from rising inflation, which has only been made worse by Russia’s war in Ukraine. The conflict is also pushing wheat and other commodity prices higher, as both Russia and Ukraine are major global suppliers.


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## bigdog

ASX 200 expected to push higher​
The Australian share market looks set to start the week on a positive note. This follows a decent finish to week on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day +31.5 points or +0.43% higher this morning.

Major U.S. indexes closed mostly higher Friday, and several of them notched weekly gains, despite a recent run of daily swings on Wall Street as traders try to figure out what’s next for the economy.

The S&P 500 index rose 0.5% after spending the day veering between a gain of 0.6% and a 0.4% decline. The Dow Jones Industrial Average rose 0.4%, while the Nasdaq composite fell 0.2%.


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## bigdog

https://apnews.com/article/russia-u...usiness-asia-def41c712e5a6a05a681f2468b657074

*Wall Street shakes off a midday slump and ends higher*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks indexes bounced back from a midday slump on Wall Street to finish higher Monday, adding to the market’s recent winning streak despite lingering worries about the resilience of the global economy amid surging inflation and geopolitical tensions.

The S&P 500 rose 0.7% after being down as much as 0.6%. The Dow Jones Industrial Average eked out a 0.3% gain after having been in the red much of the day, while the Nasdaq composite climbed from a 0.5% deficit to close 1.3% higher. The indexes were coming off two straight weekly gains.

Trading has remained choppy, even through the market’s recent run of gains, as investors try to gauge what’s next for inflation and the global economy as the repercussions of Russia’s invasion of Ukraine continue to play out.

The benchmark S&P 500 posted a 1.8% gain last week and a 6.2% rise the previous week. It’s also up eight of the last 10 trading days, which is “pretty impressive,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab.

Frederick said many investors may have reached a point of “panic exhaustion,” which could explain the market’s recent gains. Plus, he notes, apart from inflation, economic fundamentals look good, including a strong labor market and consumer spending.

“People complain about inflation, but they’re still spending and they’re still traveling,” he said.

The S&P 500 rose 32.46 points to 4,575.52. The index is now down 4% for the year. The Dow gained 94.65 points to 34,995.89, while the Nasdaq rose 185.60 points to 14,354.90.

Smaller company stocks were little changed. The Russell 2000 index inched up 0.08 points, or less than 0.1%, to 2,078.06.

Technology stocks helped power much of the comeback in the benchmark S&P 500 along with retailers, cruise lines and other companies that rely on consumer spending. Microsoft rose 2.3% and Tesla vaulted 8% for the biggest gain in the index.

Those gains outweighed a pullback in other sectors, including banks, which fell as bond yields eased lower, and energy stocks, which lost ground as crude oil prices closed sharply lower. Citigroup fell 1.4% and Exxon Mobile slid 2.8%.

U.S. crude oil slumped 7% and Brent crude, the international standard, fell 6.8%. The drop followed news that China began its most extensive coronavirus lockdown in two years to conduct mass testing and control a growing outbreak in Shanghai. That could put a dent in global demand for energy.

Oil prices remain volatile amid the backdrop of Russia’s invasion of Ukraine. The United Arab Emirates’ energy minister doubled down Monday on an oil alliance with Russia, saying that nation, with its 10 million barrels of oil a day, is an important member of the global OPEC+ energy alliance.

Ukraine and Russia are due to hold talks early this week in Turkey.

Oil prices are up about 40% globally over concerns about tighter supplies as demand remains strong. Higher oil prices are also raising concerns that already persistently high inflation could be worsened, further threatening global economic growth.

Markets in Europe closed mostly higher, while markets in Asia ended mixed.

Russian shares slumped as its stock market resumed trading of all companies after a monthlong halt following the invasion of Ukraine. The last full trading session in Moscow was on Feb. 25, a day after the index tumbled by a third after President Vladimir Putin ordered the invasion.

Bond yields eased back after shooting higher this month. The yield on the 10-year Treasury fell to 2.46% from 2.49% late Friday. Bond yields have been rising as Wall Street prepares for higher interest rates. The Federal Reserve has already announced a 0.25% hike of its key benchmark interest rate and is prepared to continue raising rates to help temper the impacts of rising inflation.

Investors will get more updates this week on just how much inflation is hurting consumers and businesses. The Conference Board will release its consumer confidence index for March on Tuesday. The Commerce Department will release its February report for personal income and spending on Thursday and the Labor Department will release its employment report for March on Friday.

Company-specific news helped lift several stocks on an otherwise quiet day as the latest quarter nears its close and Wall Street prepares for the next round of corporate earnings. Tesla’s big stock price jump came after the electric car maker said it is considering another stock split. Plantronics jumped 52.6% after HP said it will buy the headset maker.

ASX 200 expected to rise​
The Australian share market looks set to rise today . According to the latest SPI futures, the ASX 200 is poised to open the day 0.5 points or 0.01% higher.

Stocks indexes bounced back from a midday slump on Wall Street to finish higher Monday, adding to the market’s recent winning streak despite lingering worries about the resilience of the global economy amid surging inflation and geopolitical tensions.

The S&P 500 rose 0.7% after being down as much as 0.6%. The Dow Jones Industrial Average eked out a 0.3% gain after having been in the red much of the day, while the Nasdaq composite climbed from a 0.5% deficit to close 1.3% higher. The indexes were coming off two straight weekly gains


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## bigdog

https://apnews.com/article/russia-u...urope-prices-ab753a44540cc346450c1ed828d6cf24

*Wall Street builds on gains as talks on Ukraine progress*

By DAMIAN J. TROISE and ALEX VEIGA

Stocks notched more gains on Wall Street Tuesday as investors welcomed encouraging economic data and as talks on ending the war in Ukraine showed signs of progress.

The S&P 500 rose 1.2%, its fourth straight gain. The Dow Jones Industrial Average ended 1% higher and the Nasdaq composite climbed 1.8%. The latest gains build on the major indexes’ gains the past two weeks, even in the midst of choppy trading and volatile energy prices.

The market rally followed signs that first face-to-face talks in two weeks between Russia and Ukraine made some progress. Turkey hosted the discussions Tuesday, and the nation’s foreign minister said afterward that Russian and Ukrainian negotiators had reached “a consensus and common understanding” on some issues.

Russia’s military said it would “fundamentally” cut back operations near Ukraine’s capital and a northern city, as talks brought a possible deal to end a grinding and brutal war into view.

President Joe Biden said Tuesday he wasn’t convinced yet that Russia’s announcement about scaling back its military operations will lead to a fundamental shift in the war.

Still, markets welcomed the developments and how they might affect the potential duration and impact of rising inflation on businesses and consumers when the conflict began a month ago.

“There’s a sense of hope in the market today that a resolution is nearing there,” said Lindsey Bell, chief markets and money strategist at Ally Invest.

The S&P 500 rose 56.08 points to 4,631.60. The Dow gained 338.30 points to 35,294.19, and the Nasdaq rose 264.73 points to 14,619.64.

Smaller company stocks outpaced the broader market in a sign that investors were confident about the economy. The Russell 2000 rose 55.04 points, or 2.7%, to 2,113.10.

Russia’s invasion of Ukraine has been unsettling markets and adding to lingering concerns about persistently rising inflation and global economic growth.

“What we’ve seen over the course of last several weeks is capital markets have looked toward removing some of the worst case scenarios,” said Bill Northey, senior investment director at U.S. Bank Wealth Management.

Energy prices have been extremely volatile as the conflict continues, but have been easing over the last few days. Pressure on prices is also being relieved as Chinese authorities lock down Shanghai because of a surge in COVID-19 cases, which could crimp global demand for oil.

U.S. crude oil prices fell 1.6% and Brent crude, the international standard, slid 6.8%. Prices are still up more than 30% globally, but were up more than 50% as of just last week.

Falling oil prices weighed down energy companies, which had some of the biggest losses on Tuesday. Chevron fell 1.2%

More than 85% of the stocks in the benchmark S&P 500 rose. Technology and communication stocks helped power the rally, along with big retail chains, automakers and other companies that rely on consumer spending. Apple rose 1.9% and Netflix added 3.5%. Ford Motor climbed 6.5% and General Motors gained 4.6%.

European markets rose, while Asian markets closed mixed overnight.

The yield on the 10-year Treasury note, which influences interest rates on mortgages and other consumer loans, fell to 2.39% from 2.47% late Tuesday. It briefly dropped below the 2-year Treasury’s yield, what Wall Street calls an “inversion” of the Treasury yield curve. Investors take note of this because prolonged yield inversions have accurately predicted previous U.S. recessions. The 2-year Treasury yield rose to 2.36%.

The brief inversion in the yield curves may just be a blip, given that in the times when they’ve preceded a recession, they’ve remained inverted for some time and, even then, it’s taken an average of 18 months before a recession followed, Bell said.

“Developments in that part of the yield curve over the next couple of days, next couple of weeks, will be really important to watch,” she said.

Bond yields had been rising as Wall Street prepares for higher interest rates after years of ultra-low interest policies from central banks around the world. The rate hikes are part of a strategy to help temper the impacts of rising inflation.

The Federal Reserve has already announced a 0.25% hike of its key benchmark interest rate and is prepared to continue raising rates.

Wall Street is also reviewing the latest economic updates this week. U.S. consumer confidence bounced back in March, according to a report from business research group The Conference Board.

The Commerce Department will release its February report for personal income and spending on Thursday and the Labor Department will release its employment report for March on Friday.

ASX 200 expected to rise​It looks set to be another good day for the Australian share market on Wednesday following a positive night in the US. According to the latest SPI futures, the ASX 200 is expected to open the day 86.5 points or 1.17% higher this morning.

Stocks notched more gains on Wall Street Tuesday as investors welcomed encouraging economic data and as talks on ending the war in Ukraine showed signs of progress.

 The S&P 500 rose 1.2%, its fourth straight gain. The Dow Jones Industrial Average ended 1% higher and the Nasdaq composite climbed 1.8%. The latest gains build on the major indexes’ gains the past two weeks, even in the midst of choppy trading and volatile energy prices.

*I have added two new the columns to table on the end    *


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## bigdog

https://apnews.com/article/russia-ukraine-kyiv-business-china-asia-e54d573b6fe431475e3270a21c84127d

*Stocks fall, breaking a 4-day winning streak on Wall Street*

By DAMIAN J. TROISE and ALEX VEIGA

Technology companies led stocks lower on Wall Street Wednesday, ending a four-day winning streak for the market, after an economic report stoked worries about the health of the economy.

The S&P 500 fell 0.6% after having been down nearly 1.1% at one point. The Dow Jones Industrial Average slipped 0.2%, making it nearly all the way back from a 0.7% loss. The pullback was the indexes’ first lower close in five days. The tech-heavy Nasdaq composite fell 1.2%.

New data from the Commerce Department Wednesday showed the U.S. economy grew at an annual pace of 6.9% from October through December, slower than previous estimates and short of economists expectations.

The data, coming in the midst of a rebound for stocks the past two weeks, may have led investors to recoup some recent gains, said Sam Stovall, chief investment strategist, CFRA..

Technology companies led stocks lower on Wall Street Wednesday, ending a four-day winning streak for the market, after an economic report stoked worries about the health of the economy.

The S&P 500 fell 0.6% after having been down nearly 1.1% at one point. The Dow Jones Industrial Average slipped 0.2%, making it nearly all the way back from a 0.7% loss. The pullback was the indexes’ first lower close in five days. The tech-heavy Nasdaq composite fell 1.2%.

New data from the Commerce Department Wednesday showed the U.S. economy grew at an annual pace of 6.9% from October through December, slower than previous estimates and short of economists expectations.

The data, coming in the midst of a rebound for stocks the past two weeks, may have led investors to recoup some recent gains, said Sam Stovall, chief investment strategist, CFRA..

“The GDP numbers were weaker than we were expecting,” Stovall said. “It looks looks like we’re getting a soft patch in the first quarter.”

The S&P 500 fell 29.15 points to 4,602.45. The Dow slid 65.38 points to 35,228.81. The Nasdaq lost 177.36 points to 14,442.27.

In a reversal from a day earlier, smaller company stocks fell more than the broader market. The Russell 2000 index skidded 42.03 points, or 2%, to 2,091.07.

Markets have mostly gained ground this week as talks between Russia and Ukraine seemed to show progress and following encouraging data on consumer confidence.

Negotiations between Russia and Ukraine remain uncertain, however, and Russian shelling in areas where it had said it would pull back tempered optimism about prospects for a resolution to the conflict.

Technology stocks were among the biggest weights on the broader market. Many of the companies in the sector have lofty values that tend have an outsize effect on which way market indexes go. Chipmaker Nvidia fell 3.4%. Retailers also fell. Home Depot slipped 2.9%.

Oil prices, which have been volatile since Russia invaded Ukraine in February, gained ground. U.S. benchmark crude oil rose 3.4% and Brent crude, the international standard, rose 2.9%. Energy stocks gained ground along with rising oil prices. Phillips 66 rose 4.8%.

Bond yields fell. The yield on the 10-year Treasury note, which influences interest rates on mortgages and other consumer loans, slipped to 2.35% from 2.40% late Tuesday.

Bond yields have been mostly rising this year as Wall Street prepares for a shift in policy from the Federal Reserve. The central bank, along with its global counterparts, is raising benchmark interest rates to help fight persistently rising inflation.

Wall Street is also closely watching the bond market for clues about the economy’s path. On Tuesday, the yield for 10-year Treasury briefly dropped below the 2-year Treasury’s yield, what Wall Street calls an “inversion” of the Treasury yield curve. Investors take note of this because prolonged yield inversions have accurately predicted previous U.S. recessions. The 2-year Treasury yield fell to 2.33% from 2.35% late Tuesday.

Investors have several more economic updates to review this week. On Thursday, the Commerce Department will release its personal income and spending report for February and the Labor Department on Friday will release is employment report for March.

Wall Street is also preparing for the latest round of corporate report cards as the quarter comes to a close. Several companies have already released financial results and updates.

Athletic apparel maker Lululemon jumped 9.6% after reporting encouraging financial results for its most recent quarter and giving a strong sales forecast. Online pet store Chewy slumped 16.1% after reporting a fiscal fourth-quarter loss that was steeper than analysts expected.

*ASX 200 expected to fall*

The Australian share market looks set to edge lower on Thursday after a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 9 points or 0.12% lower this morning.

Technology companies led stocks lower on Wall Street Wednesday, ending a four-day winning streak for the market, after an economic report stoked worries about the health of the economy.

The S&P 500 fell 0.6% after having been down nearly 1.1% at one point. The Dow Jones Industrial Average slipped 0.2%, making it nearly all the way back from a 0.7% loss. The pullback was the indexes’ first lower close in five days. The tech-heavy Nasdaq composite fell 1.2%.


----------



## bigdog

https://apnews.com/article/russia-ukraine-kyiv-business-china-asia-81dc06035e88cfdeb8d31b8ecca54f9d

*Stocks end lower, ending market’s worst quarter in 2 years*

By DAMIAN J. TROISE and ALEX VEIGA

A late burst of selling left stocks broadly lower on Wall Street Thursday, as the market closed out its worst quarter since the pandemic broke out two years ago.

Despite posting a 3.6% gain for March, a dismal January and February left U.S. indexes lower for the year to date. The S&P 500 ended the day 1.6% lower, bringing its loss since the beginning of the year to 4.9%.

The Dow Jones Industrial Average fell 1.6%, while the Nasdaq composite fell 1.5%. Both indexes also notched gains for March, thanks largely to a market rally in the two weeks heading into this week.

Oil prices fell as President Joe Biden ordered the release of up to 1 million barrels of oil per day from the nation’s strategic petroleum reserve. The move to pump more oil into the market is part of an effort to control energy prices, which are up nearly 40% globally this year.

Wall Street’s downbeat finish to March comes as investors try to navigate the market risks amid surging inflation, geopolitical instability and uncertainty over how aggressively the Federal Reserve will raise interest rates to quash inflation.

“Yesterday’s weakness and some weakness today may be in response to sentiment that’s a little more cautious given the recent strength in the last two weeks and the ongoing uncertainty related to inflation and earnings,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.

The S&P 500 fell 72.04 points to 4,530.41. The Dow fell 550.46 points to 34,678.35, and the Nasdaq slid 221.76 points to 14,220.52.

Smaller company stocks also fell. The Russell 2000 index dropped 20.94 points, or 1%, to 2,070.13.

About 85% of stocks in the benchmark S&P 500 fell. Much of the movement seemed like a “consolidation” for investors, said Scott Wren, senior global market strategist at Wells Fargo Investment Institute.

“This is a little give back today just from the big run that we had, but we’re hanging in here pretty well,” Wren said. Major indexes fell on Wednesday to end a four-day winning streak.

Technology and communications stocks were among the biggest weights on the market. Many of the companies in those sectors have pricey stock values that tend to give the broader market a more forceful push either up or down. Chipmaker Intel fell 3.6%, while Facebook parent Meta Platforms slid 2.4%.

Banks also fell along with bond yields, which forces interest rates on loans lower, making lending less profitable for banks. The yield on the 10-year Treasury slipped to 2.34% from 2.36% late Wednesday. Bank of America fell 4.1%.

U.S. crude oil prices fell 7% and Brent, the international standard, fell 4.9%. The pullback slightly trimmed what have been soaring oil prices amid Russia’s invasion of Ukraine. The conflict has elevated concerns that tightened supplies will only worsen persistently rising inflation that threatens businesses and consumers globally.

An inflation gauge that is closely monitored by the Federal Reserve jumped 6.4% in February compared with a year ago, marking the largest year-over-year rise since January 1982.

Energy prices have been a key factor in pushing inflation higher and Biden’s plan to release more oil into the system comes as little relief is expected from the oil cartel OPEC. The cartel and its allied oil producers including Russia are sticking to a modest increase in the amount of crude they pump to the world, a step that supports higher prices.

Higher prices for everything from energy to food has been a key concern of central banks globally, which are moving to raise interest rates to help temper the impact. Investors have been trying to measure how the economy and companies will fare amid rising inflation, higher interest rates, the war in Ukraine and other factors. That has made for a rocky start to the year.

Investors received a lukewarm update on the job market on Thursday. More Americans applied for unemployment benefits last week, but layoffs remain at historic lows. Wall Street will get a fuller report on Friday when the Labor Department releases employment data for March.

ASX 200 expected to fall​
The Australian share market looks set to end the week on a subdued note following a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 58 points or 0.77% lower this morning.

A late burst of selling left stocks broadly lower on Wall Street Thursday, as the market closed out its worst quarter since the pandemic broke out two years ago.

Despite posting a 3.6% gain for March, a dismal January and February left U.S. indexes lower for the year to date. The S&P 500 ended the day 1.6% lower, bringing its loss since the beginning of the year to 4.9%.

The Dow Jones Industrial Average fell 1.6%, while the Nasdaq composite fell 1.5%. Both indexes also notched gains for March, thanks largely to a market rally in the two weeks heading into this week.


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## bigdog

https://apnews.com/article/russia-ukraine-business-china-asia-japan-f846c7233c813fe6effdc85a235d66d2

*Stocks edge higher, Treasury yields soar after jobs data*

By STAN CHOE and ALEX VEIGA

NEW YORK (AP) — Stocks notched modest gains and Treasury yields soared Friday on Wall Street after a healthy report on the U.S. job market strengthened expectations for coming interest rate hikes.

The S&P 500 rose 0.3% after bouncing between small gains and losses. The benchmark index eked out a slight gain for the week, it’s third straight amid lingering concerns about high inflation, higher interest rates from the Federal Reserve and the economic effects of the war in Ukraine.

The Dow Jones Industrial Average rose 0.4% and the Nasdaq composite rose 0.3%. Small company stocks outgained the broader market, driving the Russell 2000 1% higher.

The sharpest action was again in the bond market, where the yield on the two-year Treasury approached its highest level in more than three years.

Yields jumped after a U.S. government report showed employers added 431,000 jobs last month. That was slightly below economists’ expectations for 477,500, but the report also revised earlier months’ data to reflect more strength. It showed raises for workers accelerated last month but at a slower pace than overall inflation, while the unemployment rate improved to 3.6% from 3.7%.

“This was a solid report,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments.

“You can see the worries about COVID fading. Fewer people are working remotely. Fewer people are saying they can’t work due to the pandemic.”

A separate report showed that U.S. manufacturing is continuing to grow, though at a slower rate than in February.

A strong jobs market and economy give the Federal Reserve more leeway to raise interest rates sharply in order to beat down the high inflation that’s sweeping the country. The Fed has already raised its key overnight rate once, the first such increase since 2018. Following Friday’s jobs report, traders increased bets that the Fed will raise rates at its next meeting by double the usual amount.

Such expectations drive shorter-term Treasury yields in particular, and the two-year yield leaped to 2.45% from 2.28% late Thursday.

The two-year yield again rose above the 10-year yield, which was also climbing, but not as quickly. The 10-year yield rose to 2.38% from 2.33%. On Tuesday, the two-year yield briefly topped the 10-year yield for the first time since 2019, a potentially ominous sign.

Such a flip of the usual relationship between two- and 10-year yields has preceded many recessions in the past, though it hasn’t been a perfect predictor. Some market watchers caution the signal may be less accurate this time, because of distortions in yields caused by extraordinary measures by the Federal Reserve and other central banks to keep interest rates low.

Shares in more than 65% of the companies in the benchmark S&P 500 rose, with health care and communications stocks making up a big share of the gains. A slide in industrial, technology and financial stocks kept the index’s gains in check.

All told, the S&P 500 rose 15.45 points to 4,545.86. The Dow added 139.92 points to 34,818.27, while the Nasdaq rose 40.98 points to 14,261.50. The Russell 2000 gained 20.99 points to 2,091.11.

Shares of GameStop initially rose sharply after it said it plans to split its stock, pending approval from shareholders for an increase in the number of its authorized shares. Such splits can bring down the price of a share of stock, potentially putting it in reach of more smaller-pocketed investors. The stock shed its gains, however, and closed 0.9% lower.

GameStop’s stock has more than doubled since sitting at $78.11 in mid-March. But it’s still well below the $483 peak reached in early 2021 amid the “meme stock” craze. Then, bands of smaller-pocketed investors joined together to pump prices to levels seen as irrational by many professional investors.

Other meme stocks have also shown renewed strength in recent weeks, though AMC Entertainment fell 5.4% Friday.

In overseas markets, European stocks were modestly higher despite a report showing consumer prices in the 19 countries that use the euro currency rose by an annual rate of 7.5% in March, the fifth straight monthly record.

France’s CAC 40 rose 0.4%, Germany’s DAX returned 0.2% and the FTSE 100 in London added 0.3%.

Oil and gas prices had already been rising because of increasing demand from economies recovering from the depths of the COVID-19 pandemic. They jumped higher after Russia, a major oil and gas producer, invaded Ukraine, on fears that sanctions and export restrictions could crimp supplies.

Crude prices slipped modestly on Friday, with a barrel of U.S. oil dipping 1% to settle at $99.27. Early last month, when disruptions to crude supplies were at their height, it briefly touched $130.

Brent crude, the international standard, slipped 0.3% to settle at $104.39 per barrel


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## bigdog

*ASX 200 expected to rebound*

The Australian share market looks set to start the week on a positive note following a solid finish on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 52 points or 0.71% higher this morning. 

On Wall Street, The Dow Jones Industrial Average rose 0.4% and the Nasdaq composite rose 0.3%. Small company stocks outgained the broader market, driving the Russell 2000 1% higher.


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## bigdog

*





						NYSE Dow Jones finished today at:
					

https://apnews.com/article/russia-ukraine-kyiv-business-china-asia-81dc06035e88cfdeb8d31b8ecca54f9d  Stocks end lower, ending market’s worst quarter in 2 years  By DAMIAN J. TROISE and ALEX VEIGA  A late burst of selling left stocks broadly lower on Wall Street Thursday, as the market closed out...




					www.aussiestockforums.com
				



*
Stocks close higher, Twitter soars on news of Musk stake​By DAMIAN J. TROISE and ALEX VEIGA

Stocks shook off a downbeat start to close higher Monday, as big gains by technology and communications companies helped offset losses elsewhere on Wall Street.

The S&P 500 rose 0.8% after having been down 0.2% in the early going. The Dow Jones Industrial Average rose 0.3% and the Nasdaq composite added 1.9%.

Twitter surged 27.1% for the biggest gain in the S&P 500 after the company disclosed that Tesla’s Elon Musk had taken a 9.2% stake in the social media platform. In recent weeks Musk has publicly questioned the company’s commitment to free speech. The gains were a key factor in lifting the broader communications sector and keeping the S&P 500 in the green even as little less than half the companies in the index fell.

The market’s latest moves follow three straight weekly gains by the S&P 500, even as investors grapple with uncertainties stemming from surging inflation, higher interest rates from the Federal Reserve and the economic fallout from the war in Ukraine.

The S&P 500 rose 36.78 points to 4,582.64, the Dow gained 103.61 points to 34,921.88, and the tech-heavy Nasdaq rose 271.05 points to 14,532.55.

Smaller company stocks also gained ground. The Russell 200 index rose 4.33 points, or 0.2%, to 2,095.44.

Apple and other big technology stocks did the heavy lifting Monday, offsetting losses elsewhere. Tech companies, with their pricey stock values, tend to have more weight in pushing the market up or down. Apple rose 2.4% and Microsoft gained 1.8%.

Retailers and other companies that rely on consumer spending also helped lift the market. Tesla rose 5.6%, Amazon added 2.9% and Home Depot closed 1.2% higher.

Investors continue to monitor the conflict in Ukraine, where Russia could face even stricter economic sanctions now that details are emerging of what appear to be deliberate killings of civilians.

The European Union’s foreign policy chief, Josep Borrell, joined a growing chorus of international criticism of the alleged atrocities, saying the 27-country bloc “will advance, as a matter of urgency, work on further sanctions against Russia.”

Russia’s invasion of Ukraine has elevated concerns about rising inflation and the impact on global economic growth. Prices for everything from food to clothing had already been rising and the war has made for even more volatile energy prices.

The price of U.S. benchmark crude oil rose 4% and Brent crude, the international standard rose 3%. Prices are up roughly 40% globally, which has put pressure on costs for gasoline and other goods.

Bond yields mostly gained ground. The yield on the 10-year Treasury rose to 2.41% from 2.38% late Friday. The yield on the two-year Treasury dipped to 2.41% after having moved higher most earlier in the day.

The two-year yield has been hovering at times above the 10-year yield, which is a potentially ominous sign. Such a flip of the usual relationship between two- and 10-year yields has preceded many recessions in the past, though it hasn’t been a perfect predictor. Some market watchers caution the signal may be less accurate this time, because of distortions in yields caused by extraordinary measures by the Federal Reserve and other central banks to keep interest rates low.

Bond yields have been climbing all year as Wall Street prepares higher interest rates. The Federal Reserve has already raised its key overnight rate once, the first such increase since 2018. The central bank is expected to continue raising rates throughout 2022 to help counter the impact from rising inflation.

The Fed is due to release minutes from its last meeting on Wednesday.

Markets in Europe closed higher. Asian markets also rose and Hong Kong’s Hang Seng jumped 2.1% after regulators in Beijing said they plan to revise rules  regarding access of overseas regulators to full audits of companies that have shares listed in overseas markets.

ASX 200 expected to rise​
The Australian share market looks set to rise following a strong night in the US. According to the latest SPI futures, the ASX 200 is poised to open the day 39 points or 0.52% higher.

Stocks shook off a downbeat start to close higher Monday, as big gains by technology and communications companies helped offset losses elsewhere on Wall Street.

The S&P 500 rose 0.8% after having been down 0.2% in the early going. The Dow Jones Industrial Average rose 0.3% and the Nasdaq composite added 1.9%.

The latter bodes well for the tech sector today.


----------



## bigdog

Asia stocks decline amid worries over US rate hikes, Russia
					

BEIJING (AP) — Asian stocks followed Wall Street lower Wednesday after a Federal Reserve official's comments fueled expectations of more aggressive interest U.S. rate hikes and the White House announced more sanctions on Russia.




					apnews.com
				




Stocks fall on Wall Street as tech slips, bond yields jump​By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed lower and bond yields jumped Tuesday as remarks by a Federal Reserve governor fueled expectations on Wall Street that the central bank is prepared to more aggressively raise interest rates and take other steps in a bid to tame surging inflation.

The S&P 500 fell 1.3% after shedding a modest early gain. The Dow Jones Industrial Average fell 0.8% and the Nasdaq slid 2.3%.

The S&P 500 had its first loss in three days. It notched three straight weekly gains coming into this week, during which the market regained some of its footing after a skid in January and February as rising inflation, uncertainty over the Fed’s next interest rate policy moves and the war in Ukraine rattled Wall Street.

That recent market strength may be giving the Fed the leeway to raise interest rates more aggressively, said Zach Hill, head of portfolio management at Horizon Investments.

“Against that backdrop, things have obviously changed and the Fed is willing to ratchet up their hawkishness a bit,” Hill said.

The S&P 500 fell 57.52 points to 4,525.12. The Dow slid 280.70 points to 34,641.18, and the Nasdaq dropped 328.39 points to 14,204.17.

Smaller company stocks fell more than the broader market. The Russell 2000 lost 49.40 points, or 2.4%, to close at 2,046.04.

Weakness from big technology stocks weighed down the broader market the most. Companies in the sector, with their pricey valuations, tend to push the market higher or lower more forcefully. Chipmaker Qualcomm fell 5.4%.

Twitter rose another 2% after disclosing an arrangement with Tesla chief Elon Musk that will give him a board seat but also limit how much of the company he can buy while he’s a director. The company disclosed a day earlier that the mercurial billionaire and Twitter critic had become the company’s largest shareholder.

Treasury yields jumped again as investors brace for more aggressive moves by the Fed to rein in the hottest inflation in 40 years. Fed Governor Lael Brainard said in a speech that it’s “of paramount importance” and that the central bank is set to keep raising short-term interest rates following its March hike, which was its first increase since 2018.

Traders are pricing in a nearly 78% probability the Fed will raise its key overnight rate by half a percentage point at its next meeting in May. That’s double the usual amount and something the Fed hasn’t done since 2000. That helped the yield on the two-year Treasury jump to 2.53% from 2.46%, its highest level since March 2019.

Brainard said the Fed would also soon throw into reverse the massive bond-buying program it engineered through the pandemic to keep longer-term rates low. She said the Fed could decide to roll some bonds off its balance sheet as soon as its May meeting, and “at a rapid pace.”

The 10-year Treasury yield jumped to 2.56%, its highest level since April 2019, from 2.46%.

Higher interest rates tend to most hurt stocks that are seen as the priciest, which puts the focus on big technology and other high-growth stocks. Apple and Tesla were some of the biggest weights on the market.

Wall Street is watching closely for any clues as to how sharply interest rates will rise as inflation persists. More details will be gleaned Wednesday when the Fed releases minutes from its March interest rate meeting.

Russia’s war in Ukraine remains a key focus for Wall Street as the potential for stricter economic sanctions increase. The European Union’s executive branch has proposed a ban on coal imports from Russia in what would be the first sanctions targeting the country’s lucrative energy industry over its war in Ukraine.

The Treasury Department will not allow any Russian government debt payments from accounts at U.S. financial institutions to be made in U.S. dollars, restricting one of the strategies President Vladimir Putin is employing to stave off default.

The stricter sanctions follow mounting evidence Russian soldiers deliberately killed civilians during the conflict.

Wall Street is preparing for the next round of corporate earnings reports in the coming weeks. The results could give a clearer picture of how companies are dealing with the impact from rising inflation.

Carnival rose 2.4% after the cruise line gave investors an encouraging bookings update.

Spirit Airlines jumped 22.4% after JetBlue made a takeover bid for the discount airline. Spirit and rival Frontier Airlines announced in February that had agreed to combine in a $2.9 billion deal to create the nation’s fifth-largest airline by passenger-carrying capacity. Denver-based Frontier would have a controlling share.

ASX 200 expected to sink​The Australian share market looks set to sink on Wednesday following a poor night in the US. According to the latest SPI futures, the ASX 200 is expected to open the day 54 points or 0.7% lower this morning. 

On Wall Street, stocks closed lower and bond yields jumped Tuesday as remarks by a Federal Reserve governor fueled expectations on Wall Street that the central bank is prepared to more aggressively raise interest rates and take other steps in a bid to tame surging inflation.

The S&P 500 fell 1.3% after shedding a modest early gain. The Dow Jones Industrial Average fell 0.8% and the Nasdaq slid 2.3%.


----------



## bigdog

Asian shares track Wall St retreat on interest rate worries
					

BANGKOK (AP) — Asian shares tracked a retreat on Wall Street after details from last month’s Federal Reserve meeting showed the central bank plans to be aggressive in fighting inflation.  The Fed comments added to investor unease over the war in Ukraine, coronavirus outbreaks in China and...




					apnews.com
				




Stocks fall, yields rise as Fed details inflation efforts​By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed lower and bond yields rose on Wall Street Wednesday after details from last month’s meeting of Federal Reserve policymakers showed the central bank intends to be aggressive in its efforts to fight inflation.

The S&P 500 fell 1%, adding to its losses from a day earlier. The Dow Jones Industrial Average dropped 0.4% and the Nasdaq slid 2.2%.

The minutes from the meeting three weeks ago reveal that Fed policymakers agreed to begin cutting the central bank’s stockpile of Treasurys and mortgage-backed securities by about $95 billion a month, starting in May. That’s more than some investors expected and nearly double the pace the last time the Fed shrank its balance sheet.

At the meeting, the Fed raised its benchmark short-term rate by a quarter percentage point, the first increase in three years. The minutes showed many Fed officials wanted to hike rates by an even bigger margin last month, and they still saw “one or more” such supersized increases potentially coming at future meetings.

“Essentially, the Fed has concluded that a good offense is the best defense,” said Sam Stovall, chief investment strategist at CFRA. “We’re likely to experience not only higher short-term interest rates as a result of the Fed’s actions, but also higher long-term rates, which should pressure potential (stock) gains.”

Higher rates tend to reduce the price-to-earnings ratio of stocks, a key valuation barometer. Such a scenario can particularly hurt stocks that are seen as the priciest, which includes big technology companies. That explains why tech stocks were the biggest drag on the benchmark S&P 500 Wednesday. Apple fell 1.8% and Microsoft shed 3.7%.

Communications companies, retailers and others that rely on direct consumer spending also weighed heavily on the index. Amazon fell 3.2% and Facebook parent Meta fell 3.7%.

The S&P 500 ended down 43.97 points to 4,481.15. The Dow slid 144.67 points to 34,496.51, and the tech-heavy Nasdaq lost 315.35 points to 13,888.82.

Smaller company stocks also fell, sending the Russell 2000 index down 29.11 points, or 1.4%, to 2,016.94.

Investors are keenly focused on Fed policy as the central bank moves to reverse low interest rates and the extraordinary support it began providing for the economy two years ago when the pandemic knocked the economy into a recession.

The Fed’s proposed timetable for allowing billions in bonds and mortgage-backed securities to roll off its balance sheet was hinted at on Tuesday in remarks by Fed Governor Lael Brainard, who said the process could start as soon as May and proceed at a rapid pace.

The rapid reduction in the Fed’s balance sheet would help push up longer-term rates, but also contribute to higher borrowing costs for consumers and businesses.

“The reality is we are in uncharted waters here and the Fed has a difficult task in unwinding the tremendous monetary support over the past couple years,” said Charlie Ripley, senior investment strategist at Allianz Investment Management. “Against this backdrop, it is highly conceivable that uncertainty in the path of monetary policy will remain embedded in markets and that is exactly what we have been witnessing with the recent moves in interest rates and risk assets.”

The yield on the 10-year Treasury rose to 2.61% after the release of the minutes. It had been at 2.59% earlier in the day, up from 2.54% late Tuesday. The yield, which is used to set interest rates on mortgages and many other kinds of loans, is the highest it’s been in three years.

Traders are now pricing in a nearly 77% probability the Fed will raise its key overnight rate by half a percentage point at its next meeting in May. That’s double the usual amount and something the Fed hasn’t done since 2000.

“Even though we’ve known about the coming rate hikes, it’s been pretty difficult for long term equity managers across the board,” said William Huston, chief investment officer at Bay Street Capital Holdings.

Inflation is running at a four-decade high and threatens to crimp economic growth. Higher prices on everything from food to clothing have raised concerns that consumers will eventually pull back on spending. Russia’s invasion of Ukraine has added to those worries, pushing energy and commodity prices, including wheat, even higher.

U.S. benchmark crude oil prices fell 5.6% Wednesday, but are more than 30% higher for the year. That has pushed gasoline prices higher, putting more stress on shipping costs, prices for goods and consumers’ wallets.

Treasury Secretary Janet Yellen warned a House panel Wednesday that the conflict will have “enormous economic repercussions in Ukraine and beyond.”

The conflict in Ukraine continued prompting financial pressure against Russia. The White House said Western governments will ban new investmen t in Russia following evidence its soldiers deliberately killed civilians in Ukraine. The U.S. Treasury said President Vladimir Putin’s government will be blocked from paying debts with dollars from American financial institutions, potentially increasing the risk of a default.

European governments have resisted appeals to boycott Russian gas, Putin’s biggest export earner, due to the possible impact on their economies.

Wednesday ended up being a mostly quiet day for company news ahead of the latest round of corporate earnings reports. JetBlue Airways fell 8.7% after offering to buy rival budget airline Spirit for $3.6 billion and break up a plan for Spirit to merge with Frontier Airlines. Spirit fell 2.4%.

ASX 200 expected to fall​
The Australian share market looks set to edge lower on Thursday following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 12 points or 0.15% lower this morning.

On Wall Street,  stocks closed lower and bond yields rose on Wall Street Wednesday after details from last month’s meeting of Federal Reserve policymakers showed the central bank intends to be aggressive in its efforts to fight inflation.

The S&P 500 fell 1%, adding to its losses from a day earlier. The Dow Jones Industrial Average dropped 0.4% and the Nasdaq slid 2.2%.


----------



## bigdog

Asian shares mostly lower after tepid gains on Wall Street
					

TOKYO (AP) — Asian shares were mostly lower Friday as investors eyed the war in Ukraine and what the world's central banks might do to keep inflation in check. Benchmarks fell in Tokyo, Seoul, Hong Kong and Shanghai, while Sydney advanced.




					apnews.com
				




Tech rebound lifts stocks on Wall Street after early slide​By DAMIAN J. TROISE and ALEX VEIGA

A late-afternoon rebound led by technology companies helped drive stocks higher on Wall Street Thursday, lifting the market from an early slide.

The S&P 500 rose 0.4%, its first gain after a two-day slump. The benchmark index is still on pace for its first weekly loss in four weeks.

The Dow Jones Industrial Average rose 0.3% and the tech-heavy Nasdaq managed a 0.1% gain. Crude oil prices edged lower and bond yields rose.

The choppy day of trading came as investors weighed the latest updates from the Federal Reserve amid concerns about rising inflation. The central bank has signaled it is prepared to keep raising interest rates and reducing its stockpile of bonds and mortgage-backed securities in order to rein in the highest inflation in 40 years.

“The market is certainly having to digest a Fed that appears to be willing to be very aggressive in battling inflation,” said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management.

The S&P 500 rose 19.06 points to 4,500.21. The Dow gained 87.06 points to 34,583.57. The blue-chip index had earlier been down 305 points. The Nasdaq added 8.48 points to 13,897.30.

Higher interest rates can make pricey growth stocks, like those of Big Tech companies, look less attractive relative to their earnings. Tech stocks have been among the biggest drags on the market the past couple of days and were weighing down the indexes Thursday morning. But the sector began to recover by midafternoon, helping lift the broader market. Microsoft rose 0.6% and Adobe rose 1.9%.

Health care stocks, retailers and other companies that rely on direct consumer spending also rose after having been down earlier in the day. Pfizer rose 4.3%, Target gained 5.7% and McDonald’s rose 1.2%.

Communication services stocks were among the biggest weights on the market. Twitter fell 5.4%.

Computer and printer maker HP surged 14.8% for the biggest gain in the S&P 500 after Warren Buffett’s Berkshire Hathaway disclosed an 11% stake in the company.

Bond yields rose. The yield on the 10-year Treasury rose to 2.65% from 2.61% late Wednesday.

Every major index is in the red for the week following two big losses that were partly prompted by concerns over the Fed’s shifting policy as it tries to combat inflation.

Minutes from the Fed’s meeting last month showed policymakers agreed to begin cutting the central bank’s stockpile of Treasurys and mortgage-backed securities by about $95 billion a month, starting in May. That’s more than some investors expected and nearly double the pace the last time the Fed shrank its balance sheet.

The central bank is reversing course from low interest rates and the extraordinary support it began providing for the economy two years ago when the pandemic knocked the economy into a recession. It already announced a quarter-percentage point increase and is expected to keep raising rates throughout the year.

Traders are now pricing in a nearly 80% probability the Fed will raise its key overnight rate by half a percentage point at its next meeting in May. That’s double the usual amount and something the Fed hasn’t done since 2000.

Persistently rising inflation has been threatening economic growth. Business have been raising prices on everything from food to clothing and that has put more pressure on consumers. Some companies have been unable to offset the impact from inflation, even with price hikes.

Duncan Hines and Birds Eye brands maker ConAgra cut its financial forecast for the year and said another round of price increases will be needed.

Wall Street is concerned about consumers eventually pulling back on spending as higher prices become too difficult to digest. Price increases were responsible for a rise in consumer spending in March, otherwise, the results revealed a pullback.

A rapid increase in interest rates could also affect corporate earnings growth, though gauging that depends on how aggressive the Fed will be.

“Do we have to take earnings expectations down?” Haworth said. “That’s what the market’s really (been) trying to decide over the last couple of days. Is the aggressiveness of the Fed going to change that equation?”

Russia’s invasion of Ukraine has also added to concerns about inflation. Energy prices have been particularly volatile and pushed gasoline prices higher. U.S. benchmark crude oil prices fell 0.2%, but are still up roughly 31% for the year.

Investors received an encouraging update on the job market Thursday. The Labor Department reported that fewer Americans applied for unemployment benefits last week as layoffs remain at historically low levels.

ASX 200 expected to rebound​ The Australian share market looks set to end the week on a positive note following a solid night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 39 points or 0.5% higher this morning. 

In the US, a late-afternoon rebound led by technology companies helped drive stocks higher on Wall Street Thursday, lifting the market from an early slide.

The S&P 500 rose 0.4%, its first gain after a two-day slump. The benchmark index is still on pace for its first weekly loss in four weeks.

The Dow Jones Industrial Average rose 0.3% and the tech-heavy Nasdaq managed a 0.1% gain. Crude oil prices edged lower and bond yields rose.


----------



## bigdog

Wall Street falls to first down week in four on rate worries
					

NEW YORK (AP) — Wall Street closed its first losing week in the last four with an up-and-down Friday, as investors brace for the Federal Reserve to tighten the brakes on the economy more aggressively to beat down inflation.




					apnews.com
				




Wall Street falls to first down week in four on rate worries​By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — Wall Street closed its first losing week in the last four with an up-and-down Friday, as investors brace for the Federal Reserve to tighten the brakes on the economy more aggressively to beat down inflation.

Big tech stocks once again led the market lower, and the S&P 500 fell 11.93 points, or 0.3%, to 4,488.28 after wobbling much of the day. The Dow Jones Industrial Average rose 137.55, or 0.4%, to 34,721.12. The weakness for tech stocks, meanwhile, dragged the Nasdaq composite down 186.30, or 1.3%, to 13,711.00.

For the week, the S&P 500 lost 1.3%. Stocks have slumped as the Federal Reserve swings more aggressively toward fighting inflation by raising short-term interest rates and making other moves. It’s a sharp reversal from keeping rates at record lows to stimulate the economy and carry it through the pandemic.

Investors learned this week that the Fed may hike short-term rates by double the usual amount at several upcoming meetings, and that it came close to doing so last month. The last time that happened was in 2000. The Fed also indicated in the minutes from its last meeting that it’s likely to shrink its massive stockpile of bonds by up to $95 billion monthly, starting as soon as next month.

Altogether, the moves should make it more expensive for U.S. households and businesses to borrow, which in turn would slow the economy and hopefully halt the hottest inflation in 40 years.

Higher rates hurt all kinds of investments, particularly the stocks seen as the most expensive. That’s because higher rates mean better returns for owning relatively safe bonds, which makes investors less willing to pay higher prices for riskier assets like stocks.

That’s why big technology and other high-growth stocks have led the market lower recently. Amazon, Nvidia and Tesla were among the heaviest weights on the S&P 500 Friday, and each dropped at least 2%.

Worries are also rising about the strength of the economy. With the Federal Reserve set to raise rates so aggressively, the fear is it will squeeze the brakes too hard or too quickly and force the economy into a recession. While that’s not the consensus on Wall Street, economists at Deutsche Bank earlier this week said they project a U.S. recession by late next year.

The war in Ukraine has made things more uncertain by threatening to worsen inflation and damage the global economy. Prices for oil, gas and food have been particularly volatile  since Russia invaded the country.

A barrel of benchmark U.S. crude rose $2.23 to settle at $98.26 on Friday. It has swung wildly in recent weeks and briefly topped $130 last month. Brent crude, the international standard, added $2.20 to settle at $102.78 per barrel.

Much of the market’s focus has been on the bond market, where expectations for a more aggressive Fed have sent yields to their highest levels in three years. The 10-year yield climbed to 2.71% from 2.65% late Thursday. It was at just 1.51% at the start of the year.

It could be set to rise further as the Fed not only halts but reverses its program to buy trillions of dollars of bonds.

The bond buying helped prices for stocks and other financial assets to soar and markets to stay relatively calm, Chief Investment Strategist Michael Hartnett wrote in a recent BofA Global Research report.

Now the Fed is less than a month away from reversing that, which “by design will be negative” for financial assets, Hartnett said. He said it should lead to higher bond yields and higher volatility in markets.

Meanwhile, COVID-19 continues to squeeze the economy around the world, particularly in China. Shanghai residents face severe restrictions on movement and activities because of a surge in infections, with economic effects rippling around the world.

ACM Research, a supplier of equipment for the semiconductor industry that has operations in Shanghai, said the restrictions will cause a significant hit to its revenue. Its stock fell 6.1%.

A jump in COVID-19 cases is also behind airline disruptions in Europe. Two major airlines, British Airways and easyJet, canceled about 100 flights Wednesday. The industry is suffering from staff shortages because of the virus.


----------



## bigdog

Asian stocks fall as investors await U.S. profits, inflation
					

BEIJING (AP) — Asian stock markets fell again Tuesday as investors waited for U.S. inflation data amid unease about higher interest rates, Chinese efforts to contain coronavirus outbreaks and Russia's war on Ukraine.




					apnews.com
				




Stocks fall on Wall Street, led by slump in tech companies​By DAMIAN J. TROISE and ALEX VEIGA

Technology companies led a broad slide for stocks on Wall Street and bond yields rose again Monday as investors look ahead to the upcoming company earnings reporting season and what it will reveal about the impact inflation is having on corporate profits.

The S&P 500 fell 1.7%, adding to its recent losses. The Dow Jones Industrial Average fell 1.2% and the tech-heavy Nasdaq slid 2.2%. Both the benchmark S&P 500 and the Nasdaq are coming off their first weekly losses in four weeks.

Bond yields rose. The yield on the 10-year Treasury climbed to 2.78% from 2.71% late Friday. Bonds have been rising amid expectations of higher interest rates as the Federal Reserve moves to squelch inflation.

The market “is still reacting to what’s happening in the bond market,” said Willie Delwiche, investment strategist at All Star Charts. “You have yields, not just in the U.S. but around the world, moving sharply higher and that’s putting pressure on (stocks) generally. That was the story last week, and it’s the story this week.”

Higher rates hurt all kinds of investments, particularly stocks that are seen as the most expensive, such as those of Big Tech companies. As bonds offer better returns for less risk, that makes pricey stocks less attractive, which is why the heaviest selling has been concentrated in technology and other growth stocks as inflation fears have rattled the market.

Technology stocks were again the biggest weights on the market Monday. Microsoft fell 3.9% and Apple shed 2.6%.

All 11 sectors in the S&P 500 fell. The index ended down 75.75 points to 4,412.53. The Dow lost 413.04 points to 34,308.08, while the Nasdaq slid 299.04 points to 13,411.96.

Small company stocks held up better than the rest of the market. The Russell 2000 fell 14.24 points, or 0.7%, to 1,980.32.

Energy stocks were among some of the biggest losers as they followed oil prices lower. U.S. crude oil prices fell 4% and Occidental Petroleum slumped 3.9%, the biggest decliner in the S&P 500.

Oil prices remain volatile amid Russia’s invasion of Ukraine, which has put more pressure on global energy supplies. Global oil prices are up just over 25% for the year, though they have been easing somewhat throughout April.

Twitter was in focus after Tesla CEO Elon Musk said he wouldn’t be joining the company’s board after all. The stock rose 1.7%. Musk recently became the company’s biggest individual shareholder and is now free to increase his stake.

Shares of the new Warner Bros. Discovery media giant rose 1.3% on their first day of trading. The company is the $43 billion combination of Discovery and the AT&T spinoff WarnerMedia that includes storied film studio Warner Bros., CNN, HBO, HGTV and Discovery. AT&T jumped 7.7%.

Investors continue to remain uneasy about higher interest rates, Russia’s war on Ukraine and China’s effort to contain coronavirus outbreaks. In China, automakers and other manufacturers are reducing production after authorities tightened restrictions to help stem coronavirus outbreaks in Shanghai and other cities.

Wall Street will get several updates this week that could provide more clues about how the broader economy has been handling rising inflation.

The Labor Department on Tuesday will release its report on consumer prices for March, while the Commerce Department will release its March retail sales report on Thursday. Those reports have been closely watched as investors try to figure out how rising prices have been impacting consumer spending. Any significant slowdown in consumer spending would likely mean a sharper-than-expected slowdown in economic growth this year.

The latest economic updates come as investors anticipate a more aggressive shift from the Federal Reserve as it tries to temper the impact from rising inflation. The central bank has already announced a quarter-percentage point raise of its key interest rate.

Fed officials indicated in minutes from last month’s meeting they were considering raising the U.S. benchmark rate by double the normal amount at upcoming meetings. They also indicated they would shrink the Fed’s bond holdings, which would push up long-term borrowing rates.

Wall Street will also start to get more details about how individual companies performed during the first quarter and what they expect moving ahead.

“Investors will be looking to see how inflation is impacting corporate earnings,” Delwiche said. “Are companies able to pass higher costs on to consumers or are they having to eat the costs?”

Delta Air Lines and JPMorgan Chase will report their latest financial results on Wednesday, while UnitedHealth Group, Wells Fargo and Citigroup will report their results on Thursday.

ASX 200 expected to fall​ The Australian share market looks set to tumble following a poor start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 28 points or 0.4% lower. 

On Wall Street, the S&P 500 fell 1.7%, adding to its recent losses. The Dow Jones Industrial Average fell 1.2% and the tech-heavy Nasdaq slid 2.2%. Both the benchmark S&P 500 and the Nasdaq are coming off their first weekly losses in four weeks.


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## bigdog

Asian shares mostly rise on interest rate, inflation hopes
					

TOKYO (AP) — Asian shares were mostly higher Wednesday on hopes that the curbs on U.S. interest rates may moderate after new data showed signs of slowing inflation. Benchmarks rose in early trading in Japan, South Korea and Australia, while slipping in China.




					apnews.com
				




Stocks give up gains, end lower following inflation report​By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Stocks ended slightly lower on Wall Street Tuesday after investors weighed new data showing some signs that inflation slowed slightly in March, though overall it remained at its highest level in 40 years.

The S&P 500 fell 0.3% after having been up 1.3% earlier in the day. The pullback extends the benchmark index’s losing streak to a third day, reflecting investors’ worries about the potential economic collateral damage as the Federal Reserve tackles high inflation more aggressively.

The Dow Jones Industrial Average and the Nasdaq composite each fell 0.3% after shedding early gains.

The indexes initially rallied following the release of the report, which showed inflation last month  was again at its highest level in generations, driven by soaring gasoline prices in particular. Still, the reading was relatively close to economists’ expectations.

Another faint silver lining was that inflation wasn’t as bad as economists expected, when ignoring the costs of food and fuel. Known as “core inflation,” this is the reading that the Federal Reserve pays more attention to when setting policy because it’s less volatile. And core inflation on a month-over-month basis moderated to its slowest level since September.

“Hopefully this is as bad as it gets,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments.

“The risk is that a red hot labor market grows cold under the force of those higher food, fuel, and financing costs. This is a time when economic resilience will be tested.”

The S&P 500 fell 15.08 points to 4,397.45. The Dow fell 87.72 points to 34,220.36, and the Nasdaq lost 40.38 points to 13,371.57.

Smaller company stocks held up better than the broader market. The Russell 2000 rose 6.61 points, or 0.3%, to 1,986.94.

Stocks in recent days have been trading in the opposite direction of Treasury yields, which have climbed to their highest levels since well before the pandemic. Yields jumped as investors brace for the Federal Reserve to hike short-term rates at a faster pace than typical and to aggressively pare its trove of bonds, whose buildup helped keep longer-term rates low.

But Treasury yields pulled back on Tuesday following the inflation report. The 10-year yield slid to 2.72% from 2.77% late Monday. It was as high as 2.83% overnight, before the inflation report’s release. The 10-year yield nevertheless remains well above the 1.51% level where it began the year.

Stocks elsewhere around the world closed lower or mixed, as unease continues to hang over markets about the war in Ukraine, Chinese efforts to contain COVID outbreaks and where inflation and interest rates are heading.

The price of U.S. crude oil climbed 6.7% to settle at $100.60, keeping the pressure on high inflation. Brent crude, the international standard, rose 6.3% to settle at $104.64.

Higher interest rates from the Federal Reserve would slow the economy, which would hopefully knock down high inflation. Consumer prices were 8.5% higher in March than a year earlier, accelerating from February’s 7.9% inflation rate and the highest since 1981. To bring it down, the Fed revealed in the minutes from its latest meeting that it’s prepared to hike short-term rates by half a percentage point, double the usual amount, at some upcoming meetings, something it hasn’t done since 2000.

The worry is the Federal Reserve may be so aggressive about hiking interest rates that it forces the economy into a recession.

Higher interest rates also put downward pressure on all kinds of investments, with those seen as the most expensive hardest hit. That’s because when investors are earning more in interest to own relatively safe bonds, they’re less willing to pay higher prices for riskier stocks. Technology and other high-growth stocks that have been some of the stock market’s biggest recent winners have been in the spotlight in particular.

On Tuesday, technology stocks were among the biggest drags on S&P 500, along with health care and financial companies. Microsoft fell 1.1%, Pfizer lost 1.5% and Wells Fargo slid 1.8%.

Energy companies and retailers were among the sectors that notched gains. Marathon Oil rose 4.2% and Ross Stores rose 2.5%.

More swings may be in store for stocks as companies prepare to report their earnings for the first three months of the year. Delta Air Lines, JPMorgan Chase and other big-name companies will kick off the reporting season on Wednesday.

A key focus for investors during the latest round of earnings will be any sign of consumers pulling back on spending and how companies reacted, said Jack Janasiewicz, portfolio manager and lead portfolio strategist at Natixis Investment Managers Solutions.

“It all boils down to their margins and how are companies deal with rising costs,” Janasiewicz said.

Earnings were able to stay at record levels through the end of last year as companies raised prices for their products and services enough to protect their profit margins. But the further acceleration of inflation may be straining that formula.

Used car dealership chain CarMax slumped 9.5% after reporting disappointing earnings. The company said high prices for cars were discouraging buyers.

While they can swing sharply for many reasons in the short term, stock prices tend to track the path of corporate profits over the long term.

ASX 200 expected to edge lower​ The Australian share market looks set to edge lower on Wednesday following a poor night in the US. According to the latest SPI futures, the ASX 200 is expected to open the day down 7 points or 0.1% to 7417 at 6.59am AEST. 

On Wall Street, stocks ended slightly lower  Tuesday after investors weighed new data showing some signs that inflation slowed slightly in March, though overall it remained at its highest level in 40 years.

The S&P 500 fell 0.3% after having been up 1.3% earlier in the day. The pullback extends the benchmark index’s losing streak to a third day, reflecting investors’ worries about the potential economic collateral damage as the Federal Reserve tackles high inflation more aggressively.

The Dow Jones Industrial Average and the Nasdaq composite each fell 0.3% after shedding early gains.


----------



## bigdog

Asian shares track Wall Street higher, oil prices retreat
					

BANGKOK (AP) — Asian shares were mostly higher Thursday after an advance on Wall Street that ended a three-day losing streak. Tokyo, Hong Kong and Shanghai advanced while Seoul edged lower. Oil prices fell back and U.S.




					apnews.com
				




Wall Street ends higher, breaking a 3-day losing streak​By DAMIAN J. TROISE

NEW YORK (AP) — Stocks closed broadly higher on Wall Street Wednesday, ending a three-day losing streak as an upbeat report from Delta Air Lines sparked a rally for companies in the travel industry.

Investors brushed off yet another report showing that inflation remains widespread in the U.S. economy, and the broad gains helped trim weekly losses for most of the major indexes. The stock and bond markets face a shortened week and will be closed on Friday for the Good Friday holiday.

The S&P 500 index rose 49.14 points, or 1.1%, to 4,446.59. The benchmark index is coming off three straight losses brought on by persistent worries about inflation and the tough medicine the Federal Reserve is planning to use against it, higher interest rates.

The Dow Jones Industrial Average rose 344.23 points, or 1%, to 34,564.59 and the Nasdaq rose 272.02 points, or 2%, to 13,643.59.

Smaller company stocks outpaced the broader market in a sign that investors were confident about economic growth. The Russell 2000 index rose 38.17 points, or 1.9%, to 2,025.10 and is on track for a weekly gain.

Travel-related companies were among the biggest gainers after Delta reported strong revenue during its first quarter and solid bookings. The update is encouraging for the broader travel sector as airlines, cruise lines and hotels prepare for the summer vacation season.

Delta rose 6.2% and rival American Airlines jumped 10.6%. Rivals Southwest and United Airlines also gained ground. Cruise line operators Carnival and Royal Caribbean had solid gains, along with Expedia Group.

Technology stocks did a lot of heavy lifting. Pricey valuations for many of the bigger technology companies lend more weight to directing the broader market higher or lower.

Banks slipped following a disappointing earnings report from JPMorgan, which fell 3.2% after revealing a sharp drop in profits as it wrote down nearly $1.5 billion in assets due to higher inflation and the Russian-Ukrainian War.

Bond yields fell. The yield on the 10-year Treasury fell to 2.69% from 2.72%.

The Labor Department reported that the surging cost of energy pushed wholesale prices up a record 11.2% last month from a year earlier — another sign that inflationary pressure is widespread in the U.S. economy. That report comes a day after the department reported that consumer prices remain at their highest levels in generations.

“In the near term there’s a lot of focus on what the inflection point looks like and there’s confidence now that we’re seeing a peak,” said Yung-Yu Ma, chief investment strategist at BMO Wealth Management.

Inflation, while seemingly peaking, will likely stick around for awhile as cost pressures filter their way through the markets over the next few quarters, he said.

The persistently rising inflation has prompted the Federal Reserve to tighten its monetary policy in order to temper the impact of inflation on businesses and consumers. The central bank has already announced a quarter-percentage point rate hike and is expected to continue raising rates through the year.

The Fed revealed in the minutes from its latest meeting that it’s prepared to hike short-term rates by half a percentage point, double the usual amount, at some upcoming meetings, something it hasn’t done since 2000.

“The Fed wants to get to neutral or something close to it as quickly as possible,” Ma said. “The Fed is still in a bit of shell-shock reaction mode.”

Lingering concerns about inflation and rising interest rates have been worsened by Russia’s invasion of Ukraine. The conflict has made for volatile energy prices as oil supplies already remain tight amid rising demand. U.S. crude oil prices rose 3.6% and are up roughly 40% for the year. That has driven up gasoline prices and added to inflation’s hit on people’s wallets.

Companies in various industries have been raising prices to offset rising costs and maintain or increase their margins, but the constant pressure from inflation has managed to dent some operations. Bed Bath & Beyond fell 1.2% and is the latest company to warn investors about supply chain issues, saying that inventory problems continue to hurt sales.

Internet retail giant Amazon will add a 5% “fuel and inflation surcharge” to fees it charges third-party sellers who use the retailer’s fulfillment services as the company faces rising costs.

Investors will get more details on how companies and consumers are dealing with pressure from inflation in the coming days and weeks as more companies report their latest financial results. The Commerce Department on Thursday will release its retail sales report for March, which will show whether and where consumers are pulling back on spending.

The latest round of corporate earnings reports will continue on Thursday with releases from insurer UnitedHealth Group and banks Wells Fargo and Citigroup.

ASX 200 expected to rise​The Australian share market looks set end the shortened week in a positive fashion after Wall Street rebounded overnight. According to the latest SPI futures, the ASX 200 is expected to open the day ASX futures up 18 points or 0.2% to 7472 at 6.43am AEST this morning. 

On Wall Street, stocks closed broadly higher on Wall Street Wednesday, ending a three-day losing streak as an upbeat report from Delta Air Lines sparked a rally for companies in the travel industry.

The Dow Jones Industrial Average rose 344.23 points, or 1%, to 34,564.59 and the Nasdaq rose 272.02 points, or 2%, to 13,643.59.


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## bigdog

Asian shares fall, trading muted with Good Friday holidays
					

TOKYO (AP) — Asian shares fell in muted trading as markets were closed for Good Friday and other holidays.  Benchmarks declined in Tokyo, Seoul and Shanghai. Sydney, Sydney, Manila, Bangkok and Hong Kong were among markets observing holidays on Friday.




					apnews.com
				




US stocks fall; investors eye Elon Musk’s offer for Twitter​By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Stocks closed lower on Wall Street Thursday as investors gave mixed reviews to earnings from four of the nation’s largest banks.

The S&P 500 fell 1.2%, ending a shortened trading week with a 2.1% decline. The Dow Jones Industrial Average fell 0.3% and the Nasdaq composite lost 2.1%. Both indexes also ended in the red for the week.

A quartet of big banks reported noticeable declines in their first-quarter profits as the latest earnings season kicks into gear. Volatile markets and the war in Ukraine caused deal-making to dry up while a slowdown in the housing market meant fewer people sought mortgages.

Citigroup rose 1.6% while Wells Fargo fell 4.5%. Morgan Stanley rose 0.7% and Goldman Sachs slipped 0.1%.

Bond yields rose again, sending the 10-year Treasury yield to 2.83%, and the price of U.S. oil rose, finishing nearly 11% higher for the week.

“With higher oil prices, higher bond yields, (it) implies the market continues to worry about inflation, worried about Ukraine, worried about the Fed’s response to all of this,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 fell 54 points to 4,392.59. The Dow dropped 113.36 points to 34,451.23. The Nasdaq fell 292.51 points to 13,351.08. The U.S. stock market will be closed for Good Friday.

Technology stocks led the way lower Thursday, offsetting gains elsewhere in the market. Pricey valuations for many of the bigger technology companies give them more sway in directing the broader market higher or lower. Microsoft fell 2.7%.

Retailers and other companies that rely on consumer spending also weighed on the market. Amazon fell 2.5%. Energy stocks rose along with the price of crude oil. Exxon Mobil rose 1.2%.

Smaller company stocks also lost ground. The Russell 2000 fell 20.12 points, or 1%, to 2,004.98.

Investors again turned their attention to the drama surrounding Tesla founder and CEO Elon Musk and Twitter. Musk offered to buy the social media company for $54.20 a share, two weeks after revealing he’d accumulated a 9% stake.

Musk has criticized Twitter for not living up to free speech principles and said, in a regulatory filing, that it needs to be transformed as a private company. Twitter’s stock fell 1.7% at $45.08, well below Musk’s offering price.

Wall Street had mixed economic data to review following several hot inflation reports earlier in the week. The Commerce Department said retail sales rose 0.5% in March, boosted by higher prices for gasoline, as consumers continue to spend despite high inflation.

Inflation remains at its highest levels in 40 years in the U.S. and that has economists and analysts closely watching how consumers react to higher prices on everything from food to clothing and gasoline. Concerns about inflation have worsened amid Russia’s invasion of Ukraine, which has made for more volatile energy prices and contributed to rising oil and wheat prices globally.

U.S. crude oil prices reversed an early decline Thursday and settled 2.6% higher.

The head of the International Monetary Fund warned Thursday that Russia’s war against Ukraine was weakening the economic prospects for most of the world’s countries and reaffirmed the danger high inflation presents to the global economy.

Rising prices are driving the Federal Reserve and many other central banks to tighten monetary policy by raising interest rates, among other measures, to help cool the surging demand that is contributing to the problem.

Bond yields have been mostly on the rise as Wall Street prepares for higher interest rates.

Investors received another update on the recovery in the jobs market. The number of people seeking unemployment benefits ticked up last week, according to the Labor Department, but remained at a historically low level. The data reflect a robust U.S. labor market with near record-high job openings and few layoffs.

Besides the banks, insurer UnitedHealth Group was the other big name on the earnings docket. UnitedHealth rose 0.4% after reporting solid first-quarter results and raising its 2022 forecasts.

Investors are closely watching the latest round of corporate earnings to determine how companies have been dealing with rising costs and whether consumers have pulled back their spending.


----------



## bigdog

Asian shares mostly higher despite fears of recession
					

BANGKOK (AP) — Shares were mostly higher in Asia on Tuesday despite growing worries over the risks of recession as prices push sharply higher while economies are still recovering from the impact of the pandemic.




					apnews.com
				




*Europe, New Zealand and Hang Seng closed for holiday Monday April 18*

Stocks edge lower as earnings roll in, natural gas soars​By STAN CHOE and ALEX VEIGA

NEW YORK (AP) — Stocks closed slightly lower after a wobbly day of trading Monday, as worries about interest rates and inflation keep a lid on Wall Street despite some better-than-expected profit reports.

The S&P 500 slipped less than 0.1%. The benchmark index was coming off its second straight week of losses. Like it, the other two major U.S. stock indexes also rolled between small gains and losses Monday. The Dow Jones Industrial Average and Nasdaq each fell 0.1%.

Among S&P 500 companies, a slide in health care, industrial and other sectors narrowly edged out gains in technology, financial, energy and other stocks.

That pulled the index 0.90 points lower to 4,391.69. The Dow, meanwhile, dropped 39.54 points to 34,411.69.

Stocks have struggled this year as the highest inflation in generations forces the Federal Reserve into a U-turn on the low-interest-rate policies that helped markets soar and the economy to rev in recent years.

The central bank has already raised short-term rates once, and investors are expecting it to raise rates by double the usual amount in a couple weeks, with more likely on the way. The Fed is also preparing investors for a sharp reversal in its massive efforts to keep longer-term rates low.

Stocks have often moved in the opposite direction of Treasury yields, and the 10-year yield is near its highest level since 2018, at 2.85% late Monday afternoon. Higher yields put downward pressure on all kinds of investments, from gold to cryptocurrencies, and the stocks seen as the most expensive tend to get hit hardest.

That puts the spotlight on big technology and high-growth stocks, the ones that screamed highest through the pandemic. The Nasdaq, home to many such stocks, has lagged the rest of the market sharply this year. The index fell 18.72 points to 13,332.36 Monday.

Smaller stocks also faltered, with the Russell 2000 index finishing down 14.85 points, or 0.7%, at 1,990.13.

Counterbalancing were some better-than-expected profit reports. Synchrony Financial climbed 6.2% after it said it earned more in the first three months of the year than Wall Street expected. It also boosted its dividend and plan to buy back its own stock.

Bank of America rose 3.4% after reporting stronger profits than analysts forecast.

They’re among the first companies to tell investors how much they earned at the start of 2022, and expectations are relatively subdued. Analysts are forecasting roughly 5% growth for S&P 500 companies, the slowest since the end of 2020, according to FactSet. Much of that is because it’s difficult to keep growing profits at such a high pace following a year of better than 30% growth.

But inflation may also be pulling down profits following a year of big companies’ successfully passing along almost all their price increases onto their customers.

Energy producers continue to be big winners from inflation, as prices keep rising for the oil and natural gas they sell. Natural gas leaped again Monday, with the U.S. price up 7.1% and near its highest level since 2008. The war in Ukraine is pushing up demand for U.S. gas as European customers try to turn away from Russian supplies.

The price of benchmark U.S. oil, meanwhile, rose 1.2% to settle at $108.21 per barrel. Brent crude, the international standard, gained 2.7% to settle at $111.70, and that helped lift energy stocks in the S&P 500 by 1.5% for the biggest gain among the 11 sectors that make up the index.

Twitter, meanwhile, jumped 7.5% in the first trading after the company announced a plan to make it more difficult for someone to take over the company. Tesla CEO Elon Musk has said he wants to buy the social-media platform and take it private, but the company has made it tough for him to amass more than a 15% stake in it.






ASX 200 expected to edge higher​ The Australian share market looks set to start the week with a small gain. According to the latest SPI futures, the ASX 200 is poised to open the day up 10 points or 0.13% to 7506 at 8am AEST 

On Wall Street stocks closed slightly lower after a wobbly day of trading Monday, as worries about interest rates and inflation keep a lid on Wall Street despite some better-than-expected profit reports.

The S&P 500 slipped less than 0.1%. The benchmark index was coming off its second straight week of losses. Like it, the other two major U.S. stock indexes also rolled between small gains and losses Monday. The Dow Jones Industrial Average and Nasdaq each fell 0.1%


----------



## bigdog

Asian shares mixed after tech-led rally on Wall Street
					

BANGKOK (AP) — Stocks were mixed in Asia on Wednesday after a rally on Wall Street led by technology stocks.  Share benchmarks rose in Tokyo, Hong Kong and Sydney but fell in Seoul and Shanghai.




					apnews.com
				




Tech stocks rally after an early loss, leading market higher​By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Stocks overcame a weak start and finished broadly higher Tuesday, giving the major indexes on Wall Street their best day in nearly five weeks.

The S&P 500 rose 1.6%, enough to recoup almost all of its losses from last week. The Dow Jones Industrial Average rose 1.5% and the Nasdaq gained 2.2%.

The last time the indexes mounted a bigger rally was March 16. The S&P 500 and Nasdaq came into this week with two straight weekly losses, while the Dow has fallen three weeks in a row.

Stocks have mostly struggled this year amid uncertainty over how the economy and Corporate America will be affected as the Federal Reserve moves to reverse low-interest rate policies that helped markets soar in recent years.

“We’re just getting a little bit of a bounce back from what’s been a tough couple of weeks,” said Bill Northey, senior investment director at U.S. Bank Wealth Management.

The S&P 500 rose 70.52 points to 4,462.21. The Dow recovered from a 17-point drop and climbed 499.51 points to 34,911.20. The Nasdaq gained 287.30 points to 13,619.66.

Nearly 90% of the stocks in the benchmark S&P 500 rose. Technology stocks helped power the broad gains. Pricey valuations for many of the bigger technology companies give them more sway in directing the broader market higher or lower. Microsoft rose 1.7%.

Retailers and health care companies also helped lift the market. Amazon rose 3.5%. Johnson & Johnson rose 3.1% after reporting surprisingly good earnings while also raising its dividend.

Banks gained ground along with rising Treasury yields, which allow them to charge higher interest rates on loans. The yield on the 10-year Treasury rose to 2.94% from 2.85% late Monday. Bank of America rose 1.9%.

Smaller company stocks outpaced the broader market in a sign of confidence about economic growth. The Russell 2000 rose 40.63 points, or 2%, to 2,030.77.

Energy stocks were the only laggard. U.S. crude oil prices fell 5.2% and natural gas prices slumped 8.2%.

Wall Street is increasingly focusing on the latest round of corporate report cards as more big companies release their earnings. Signature Bank jumped 8.1% after beating analysts’ expectations.

Dental products maker Dentsply Sirona slumped 13.4% after firing its CEO without giving a reason, along with issuing a profit forecast for the current quarter that was far below analysts’ estimates.

Netflix sank 25% in after-hours trading after the video streaming giant reported its first loss in worldwide subscribers in more than a decade. Netflix said it was bracing for things to get even worse with a projected loss of another 2 million subscribers during the April-June period. As of Tuesday’s close, Netflix had already lost half its value since hitting an all-time high last November.

Railroad giant CSX will report earnings on Wednesday, along with Tesla. American Airlines and Union Pacific will report their results on Thursday.

The latest round of earnings comes as investors try to gauge how companies and consumers are dealing with rising inflation that has made everything from food to clothing and gas more expensive.

The conflict in Ukraine  has added to those price pressures. The International Monetary Fund on Tuesday downgraded the outlook for the world economy this year and next, blaming Russia’s war in Ukraine for disrupting global commerce, pushing up oil prices, threatening food supplies and increasing uncertainty already heightened by the coronavirus and its variants.

Rising prices have prompted the Federal Reserve and other central banks to raise interest rates in order to help temper inflation’s impact. The Fed has already announced a quarter-percentage point rate hike and Wall Street expects a half-percentage rate hike at its next meeting. Currently, investors expect rate hikes to push the benchmark interest rate to a range between 2.5% and 2.75% by the end of the year, according to CME Group’s FedWatch tool.

“It’s going to be interesting to see how fast they hike rates from one meeting to the other,” said Shawn Cruz, head trading strategist at TD Ameritrade. “How we get to the end of the year is going to be something that will have a lingering effect of driving uncertainty in the market and continuing to drive volatility.”

Bond yields have been rising as Wall Street prepares for higher interest rates. The yield on the 10-year Treasury is the highest it’s been since late in 2018. Rising yields have also been raising pressure on an already tight housing market as mortgages rates rise and make borrowing more expensive. Wall Street will get more details on that impact when the National Association of Realtors releases its home sales report for March on Wednesday.

ASX 200 expected to storm higher​The Australian share market looks set to have a great day on Wednesday following a strong night in the US. According to the latest SPI futures, the ASX 200 is expected to open the day up 47 points or 0.6% to 7581 at 6.59am AEST

On Wall Street, stocks overcame a weak start and finished broadly higher Tuesday, giving the major indexes on Wall Street their best day in nearly five weeks.

The S&P 500 rose 1.6%, enough to recoup almost all of its losses from last week. The Dow Jones Industrial Average rose 1.5% and the Nasdaq gained 2.2%.


----------



## bigdog

Asian indexes mixed in choppy trading, echoing Wall Street
					

TOKYO (AP) — Asian shares were mixed in choppy trading Thursday, as inflation worries and the war in Ukraine had investors partly optimistic while staying cautious.  Benchmarks rose in Japan, South Korea and Australia, boosted by the overnight rally in Europe and in the Dow in the U.S.




					apnews.com
				




Indexes end mixed, Netflix plunges on subscriber losses​By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Wall Street’s major stock indexes ended mixed Wednesday after another day of choppy trading, while Netflix lost more than a third of its value after reporting its first subscriber loss in more than a decade and predicting more grim times ahead.

The S&P 500 slipped 0.1% after a late-afternoon fade, while the Nasdaq fell 1.2%. The Dow Jones Industrial Average rose 0.7%, having received a bump from IBM, which added 7.1% after reporting quarterly results that beat analysts’ estimates.

Netflix slumped 35.1% a day after the streaming giant reported its first decline in subscribers in more than a decade. The company also said it expects a steeper decline during the current quarter. Netflix is now considering changes that it has long resisted, including minimizing password sharing and creating a low-cost subscription option supported by advertising. The stock is now down 67% from the all-time high it reached in November.

The skid in Netflix, one of Wall Street’s Big Tech high flyers in recent years, weighed heavily on the S&P 500, outweighing gains elsewhere in the benchmark index, and hit the communication services sector the hardest, pulling it 4.1% lower.

“While it is in communication services, it is also a discretionary stock, clearly, in that it’s one of those things people buy because they want, not because they have to,” said Randy Frederick, vice president of trading & derivatives at Charles Schwab.

Technology stocks, retailers and other companies that rely on consumer spending also weighed on the market. Chipmaker Nvidia fell 3.2% and Amazon dropped 2.6%.

Health care stocks made some of the biggest gains. CVS rose 2.7% and medical device maker Boston Scientific added 3%.

Banks and household product makers also bucked the market’s overall decline. JPMorgan Chase rose 0.4%, while Charmin and Dawn maker Procter & Gamble rose 2.7% after beating analysts’ quarterly earnings forecasts.

Tesla rose 4% in after-hours trading after reporting first-quarter net earnings that were over seven times greater than a year earlier. The electric vehicle and solar panel company benefited from strong sales despite global supply chain kinks and pandemic-related production cuts in China.

All told, the S&P 500 slipped 2.76 points to 4,459.45, and the Nasdaq fell 166.59 points to 13,453.07. The Dow rose 249.59 points to 35,160.79.

Smaller company stocks held up better than the broader market. The Russell 2000 added 7.42 points, or 0.4%, to 2,038.19.

Investors continue focusing on the latest round of corporate earnings as they try to determine how companies are dealing with rising inflation and cost pressures. American Airlines and Union Pacific are due to report results on Thursday.

Inflation has been putting increasing pressure on a wide range of industries and increasingly squeezing consumers. Rising prices have prompted the Federal Reserve and other central banks to raise interest rates in order to help temper inflation’s impact. The Fed has already announced a quarter-percentage point rate hike and Wall Street expects a half-percentage rate hike at its next meeting in two weeks.

“The market knows the Fed’s going to hike rates a bunch,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute. “But, the market is feeling pretty good that once we get to neutral, then in 2023 maybe you don’t go a lot further.”

Interest rates are considered “neutral” when they neither push nor restrict economic growth. Currently, investors expect rate hikes to increase the benchmark interest rate to a range somewhere between 2.50% and 3% by the end of the year, according to CME Group’s FedWatch tool.

Bond yields have been rising throughout the year as Wall Street prepares for higher interest rates. The yield on the 10-year Treasury note eased to 2.84% from 2.91% late Tuesday, but it’s still near its highest level since late 2018.

Higher bond yields have been pushing up mortgage rates and increasing pressure on an already tight housing market. The National Association of Realtors reported Wednesday that sales of previously occupied U.S. homes fell in March to the slowest pace in nearly two years as higher mortgage rates and already record-high prices discouraged would-be homebuyers.

Russia’s invasion of Ukraine and the ongoing conflict has only added to the worries about rising inflation crimping economic growth. The conflict has pushed energy and commodity prices higher.

U.S. crude oil prices rose 0.2% Wednesday and are up nearly 40% for the year, pushing gasoline prices higher. Wheat prices are up 41% for the year and that has the potential to increase prices for a wide range of food products globally.

Stocks have mostly struggled this year because of the confluence of concerns. Meanwhile virus lockdowns in China are easing. Authorities in Shanghai allowed 4 million people to leave their homes, but the lockdowns have left the Chinese economy damaged.

ASX 200 expected to rise​The Australian share market looks set to have another positive day despite a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day up 30 points or 0.4% to 7570 at 6.59am AEST

On Wall Street, major stock indexes ended mixed Wednesday after another day of choppy trading, while Netflix lost more than a third of its value after reporting its first subscriber loss in more than a decade and predicting more grim times ahead.

The S&P 500 slipped 0.1% after a late-afternoon fade, while the Nasdaq fell 1.2%. The Dow Jones Industrial Average rose 0.7%, having received a bump from IBM, which added 7.1% after reporting quarterly results that beat analysts’ estimates.


----------



## bigdog

Asian shares decline after Fed chief's comments on inflation
					

TOKYO (AP) — Asian shares fell Friday, tracking losses on Wall Street after Federal Reserve Chair Jerome Powell indicated increases in interest rates must be faster to fight inflation. Major indexes cascaded downward in Asia, with the drop pronounced at nearly 2% in Tokyo.




					apnews.com
				




Stocks fall on Wall Street following Fed chief’s comments​By DAMIAN J. TROISE and ALEX VEIGA

Stocks shed early gains and ended broadly lower on Wall Street Thursday after the head of the Federal Reserve said the central bank needs to take more aggressive action to fight high inflation.

In a panel discussion held by the International Monetary Fund, Fed Chair Jerome Powell said the Fed must move faster than it has previously to tackle inflation, which suggests sharp interest rate increases are likely in coming months.

The S&P 500 closed 1.5% lower after having been up 1.2% in the early going. The Dow Jones Industrial Average fell 1% and the Nasdaq slid 2.1%.

The afternoon sell-off left the S&P 500 flat for the week and knocked the Nasdaq into the red. Both indexes came into this week with two consecutive weekly declines.

The benchmark S&P 500 fell 65.79 points to 4,393.66. The Dow dropped 368.03 points to 34,792.76. The Nasdaq slid 278.41 points to 13,174.65.

Smaller company stocks fell more than the broader market. The Russell 2000 gave up 46.72 points, or 2.3%, to 1,991.46.

The broader market has had a choppy week as investors review the latest round of corporate earnings amid lingering concerns about rising inflation and the Fed’s shift away from an ultra-low interest rate policy.

The Fed has already announced a quarter-percentage point rate hike and Wall Street expects a half-percentage rate hike at its next meeting in two weeks. Other central banks have also moved to raise interest rates to try and temper the impact of rising prices on businesses and consumers.

During the panel discussion Thursday, Powell suggested that “there’s something in the idea of front-loading” aggressive rate hikes as the Fed grapples with inflation that has reached a four-decade high.

That suggests a half-point rate increase could be on the table when Fed officials hold their next interest rate and economic policy meetings May 3-4, Powell said. In the past, the Fed has typically raised its benchmark short-term rate by more modest quarter-point increments.

More than 80% of the stocks in the S&P 500 fell Thursday, with technology stocks accounting for a big share of the decline. Pricey valuations for many of the bigger technology companies give them more sway in directing the broader market higher or lower. Microsoft fell 1.9% and chipmaker Nvidia slid 6%.

American Airlines gained 3.8% after telling investors it expects to turn a profit in the second quarter as more people return to travel.

Tesla rose 3.2% after after the maker of electric cars and solar panels reported strong sales and a seven-fold increase in profits despite global supply chain kinks.

Bond yields have been gaining ground as investors prepare for higher interest rates. The yield on the 10-year Treasury rose significantly to 2.92% from 2.84%, hovering near its highest levels since late 2018.

Central bank officials and economists have been warning about slower economic growth as the world moves past the initial surge in activity as the pandemic subsided and persistently rising inflation crimps spending. Concerns about a slowdown have been elevated since Russia invaded Ukraine, prompting a jump in energy and commodity prices that could prolong rising inflation.

The price of U.S. crude oil rose 1.6% on Thursday and is up roughly 40% for the year. That has made gasoline more expensive, which cuts deeper into consumers’ wallets. Prices for wheat and corn have also jumped, as Ukraine is a key global producer of both. Those staples are key ingredients in a wide range of food products.

Rising prices on everything from food to clothing and uncertainty over the inflation have been lingering over the economy even as it continues to show more signs of recovery from the virus pandemic. The Labor Department reported Thursday that applications for unemployment benefits inched down last week as the total number of Americans collecting aid fell to its lowest level in more than 50 years.

ASX 200 expected to sink​The Australian share market looks set to end its winning streak following a poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day down 65 points or 0.9% to 7497 at 6.59am AEST

Stocks shed early gains and ended broadly lower on Wall Street Thursday after the head of the Federal Reserve said the central bank needs to take more aggressive action to fight high inflation.

The benchmark S&P 500 fell 65.79 points to 4,393.66. The Dow dropped 368.03 points to 34,792.76. The Nasdaq slid 278.41 points to 13,174.65.


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## bigdog

Stocks stumble 2.8% as worries about interest rates worsen
					

NEW YORK (AP) — Stocks tumbled on Wall Street Friday, leaving the S&P 500 with its biggest one-day loss in almost seven weeks, as worries deepen about a surge in interest rates and the U.S. central bank’s efforts to fight inflation.




					apnews.com
				




Stocks stumble 2.8% as worries about interest rates worsen​By STAN CHOE and ALEX VEIGA

NEW YORK (AP) — Stocks tumbled on Wall Street Friday, leaving the S&P 500 with its biggest one-day loss in almost seven weeks, as worries deepen about a surge in interest rates and the U.S. central bank’s efforts to fight inflation.

Several disappointing profit reports from companies also shook what’s been the market’s main pillar of support.

The S&P 500 sank 2.8% and marked its third losing week in a row. The Dow Jones Industrial Average slumped 2.8%, its biggest drop in 18 months, after briefly skidding more than 1,000 points. The Nasdaq also had its worst day in nearly seven weeks, closing 2.6% lower.

A day earlier, Wall Street seemed set for healthy gains for the week after American Airlines, Tesla and other big companies reported strong profits or better forecasts for future earnings than analysts expected. Such corporate optimism has helped stocks remain relatively resilient, even as worries swirl about the highest inflation in decades, the war in Ukraine and the coronavirus.

But markets buckled as the chair of the Federal Reserve indicated  the central bank may indeed hike short-term interest rates by double the usual amount at upcoming meetings, starting in two weeks.

The Fed has already raised its key overnight rate once, the first such increase since 2018, as it aggressively removes the tremendous aid thrown at the economy through the pandemic. It’s also preparing other moves to put upward pressure on longer-term rates.

By making it more expensive for businesses and households to borrow, the higher rates are meant to slow the economy, which should hopefully halt the worst inflation in generations. But they can also trigger a recession, all while putting downward pressure on most kinds of investments.

“After years of being very accommodative, the Fed has made it clear that policy is going to be tighter for the foreseeable future,” said Brian Price, head of investment management for Commonwealth Financial Network. “Their hawkish stance is giving investors pause as many are left to evaluate the impact on profit margins and (stock) multiples moving forward.”

The S&P 500 fell 121.88 points to 4,271.78. The Dow dropped 981.36 points to 33,811.40. The Nasdaq lost 335.36 points, closing at 12,839.29. The Dow and Nasdaq also posted losses for the week.

Smaller company stocks also fell sharply. The Russell 2000 slid 50.80 points, or 2.6%, to 1,940.66.

A preliminary report on Friday indicated the U.S. services industry’s growth is slowing, hurt in particular by surging costs for fuel, wages and other expenses.

Treasury yields have soared as investors prepare for a more aggressive Fed, and stocks have often moved in the opposite direction of them. The yield on the 10-year Treasury slipped to 2.90% from 2.91% late Thursday, but remains close to its highest level since 2018. It began the year at 1.51%.

The two-year Treasury yield, which moves more on expectations for Fed action on short-term rates, has zoomed even more. It was at 2.69% late Friday after more than tripling from 0.73% at the start of the year.

Markets around the world are feeling similar pressure on rates and inflation, particularly in Europe as the war in Ukraine pushes up oil, gas and food costs.

On Wall Street, most stocks fell, including more than 95% of the companies in the S&P 500. Technology and health care companies were among the biggest weights. Apple fell 2.8% and Microsoft dropped 2.4%.

HCA Healthcare slumped 21.8% for the biggest decline in the S&P 500 after reporting weaker earnings per share for the latest quarter than analysts expected. The hospital operator also cut its forecasted ranges for revenue and earnings this year.

Verizon Communications slid 5.6% after it said it expects earnings for the year to fall at the lower end of the range it had previously forecast. The company also reported slightly weaker revenue than expected for the first three months of the year.

Retailer Gap sank 18% after it cut its forecast for sales for the current fiscal quarter and said the CEO of its Old Navy business will leave the company.

The disappointing company earnings and outlooks, plus Powell’s remarks Thursday, have ratcheted up worries for investors already trying to navigate economic uncertainty over the lingering global supply chain issues, the pandemic and the war in Ukraine, said Greg Bassuk, CEO of AXS Investments.

“Looking ahead, that’s putting a sour taste in investors’ mouths around the likelihood of corporate earnings being stronger for the balance of 2022,” he said.


----------



## bigdog

Asian shares advance on back of rally on Wall Street
					

Asian shares were mostly higher Tuesday after U.S. stocks stormed back from sharp losses to log strong gains.  Tokyo, Hong Kong, Seoul and Shanghai advanced while Sydney declined. Oil prices rose and U.S.




					apnews.com
				




Stocks rally, erase early loss ahead of big earnings week​By DAMIAN J. TROISE

NEW YORK (AP) — U.S. stocks stormed back from sharp losses in the morning to notch gains Monday, the latest round of turbulence for Wall Street.

The S&P 500 climbed 24.34 points, or 0.6%, to 4,296.12 after erasing an early 1.7% loss. Stocks of internet-related companies helped lead the way, including Twitter, which jumped 5.7% after agreeing to sell itself to Tesla CEO and tweeter extraordinaire Elon Musk.

The Dow Jones industrial average rose 238.06 points, or 0.7%, to 34,049.46 after earlier being down 488 points, while the Nasdaq composite rallied 165.56, or 1.3%, to 13,004.85 to lead the market.

Stocks have been shaky recently, with the S&P 500 coming off a three-week losing streak, amid worries about the quick jump in interest rates coming from the Federal Reserve as it tries to rein in high inflation. Strong profit reports for the first three months of the year from big U.S. companies had been offering support, but even that was looking less solid following some mixed reports and forecasts last week.

Now Wall Street is in the midst of one of the most important stretches of the earnings season. Apple, Microsoft, Amazon and the parent company of Google are all on deck to report this week. And because they’re among the biggest companies by market value, their movements hold the most sway over the S&P 500.

Earlier in the morning, U.S. stocks had been on track to follow global markets lower, particularly in China, over worries that strict lockdown measures  there might crimp the world’s second-largest economy and potentially hurt global economic growth. Stocks in Shanghai slumped 5.1%, while Hong Kong’s Hang Seng fell 3.7%.

China’s capital, Beijing, began mass testing of more than 3 million people on Monday and restricted residents in one part of the city to their compounds, sparking worries of a wider lockdown similar to Shanghai. That city has been locked down for more than two weeks and that has already prompted the International Monetary Fund to trim its growth forecast for China’s economy.

Worries are also high for the U.S. economy, which some investors believe is set to slow sharply or even fall into a recession because of the big interest-rate increases the Fed is likely to push through.

Yields for U.S. government bonds fell Monday, a turnaround from this year’s sharp jump in yields. The yield on the 10-year Treasury, which affects rates on mortgages and other consumer loans, dropped to 2.82% from 2.90% late Friday. It has recently been close to its highest level since 2018.

Lower yields tend to benefit high-growth stocks the most, because investors become more willing to pay high prices when they’re not losing much in interest if they’d bought bonds instead. Gains for several big tech-related stocks were the strongest forces lifting the S&P 500 Monday, including a 2.4% gain for Microsoft and a 2.9% rise for the Class A shares of Google’s parent, Alphabet.

Both are set to report their latest quarterly results on Tuesday.

“Today is definitely a very small rebound, but we are early in earnings season and the big ones are coming (Tuesday) and later this week,” said Robert Cantwell, portfolio manager at Upholdings.

Besides their bottom-line profit numbers, investors are also looking for a better sense of how big companies in the technology, industrial and retail sectors are handling rising inflation and supply chain issues.

“The plane is circling the airport,” Cantwell said. “Volatility will be back, make no mistake.”

Inflation remains a key concern for investors. Investors are worried about whether the Fed will be able to hike rates enough to quell inflation but not so much as to cause a recession. The chair of the Federal Reserve has indicated the central bank may hike short-term interest rates by double the usual amount at upcoming meetings, starting next week. The Fed has already raised its key overnight rate once, the first such increase since 2018.

Wall Street will also get some key economic data this week. The Conference Board will release its measure of consumer confidence for April on Tuesday. The Commerce Department will release its first-quarter gross domestic product report on Thursday.

ASX 200 expected to sink​
The Australian share market looks set to start the week as it ended the last one. 

According to the latest SPI futures, futures were down 25 points or 0.3 per cent to 7298 near 7am AEST; they earlier fell more than 130 points down!  The ASX 200 is poised to open the day 160 points or 2.15% lower.

The S&P 500 climbed 24.34 points, or 0.6%, to 4,296.12 after erasing an early 1.7% loss. Stocks of internet-related companies helped lead the way, including Twitter, which jumped 5.7% after agreeing to sell itself to Tesla CEO and tweeter extraordinaire Elon Musk.

The Dow Jones industrial average rose 238.06 points, or 0.7%, to 34,049.46 after earlier being down 488 points, while the Nasdaq composite rallied 165.56, or 1.3%, to 13,004.85 to lead the market.


----------



## bigdog

Asian shares decline, echoing broad slump on Wall Street
					

TOKYO (AP) — Asian shares retreated on Wednesday, echoing a broad decline on Wall Street and driven by worries about how the war in Ukraine may push prices for oil and other commodities higher.  Tokyo's benchmark rose after Prime Minister Fumio Kishida announced measures to help poor families...




					apnews.com
				




Tech stocks slump again; Nasdaq has worst loss since 2020​By DAMIAN J. TROISE

NEW YORK (AP) — Stocks closed broadly lower on Wall Street Tuesday, weighed down by sharp declines in Big Tech stocks that also left the Nasdaq with its worst drop since September 2020.

Investors are busy reviewing the latest round of corporate earnings and are facing a particularly heavy week with results from some of the nation’s biggest companies. Earnings growth has been one of the pillars of the market, but the reports so far haven’t offset investors’ concerns about rising inflation, interest rate hikes and potential damage to global economic growth from pandemic-related lockdowns in China.

The S&P 500 fell 120.92 points, or 2.8% to 4,175.20. The benchmark index closed the day with 95% of its stocks losing ground. The Dow Jones Industrial Average fell 809.28 points, or 2.4%, to 33,240.18.

The tech-heavy Nasdaq bore the brunt of the day’s losses. It fell 514.11 points, or 4%, to 12,490.74. That’s its worst drop since Sept. 8, 2020. The index is now down 20% so far this year as investors shun the ultra-pricey tech sector, which had made gangbuster gains for much of the pandemic.

With the Federal Reserve set to aggressively raise interest rates as it steps up its inflation fight, traders are less and less willing to endure the lofty prices they had been paying for Microsoft, Facebook’s parent company and other tech giants.

Microsoft fell 3.7%. Google’s parent company, Alphabet, fell 3.6% in regular trading and lost another 6% in after-hours trading after reporting results that fell short of analysts’ estimates.

More big technology companies are on deck to report earnings this week, including Facebook parent’s company, Meta, on Wednesday, and Apple on Thursday.

Tesla slumped 12.2% over concerns that CEO Elon Musk will be distracted and less engaged in running the electric vehicle maker as he buys social media company Twitter, which fell 3.9%.

Retailers and other companies that rely on direct consumer spending also fell broadly. General Motors fell 4.5% while Nike slipped 5.8%.

General Electric fell 10.3% for one of the sharpest losses in the market after telling investors that inflation and other pressures are weighing on its profit forecast for the year.

Bond yields fell. The yield on the 10-year Treasury fell to 2.73% from 2.82% late Monday.

Energy companies eked out a gain, the only one of the 11 sectors in the S&P 500 to do so. The price of benchmark U.S. crude oil rose 3.2%.

After rallying the second half of March, stocks have been on shaky ground in April. The S&P 500 has fallen for three straight weeks.

“It’s the market getting a little more comfortable with a slowdown at best and recessionary fears at worst,” said Ross Mayfield, investment strategy analyst at Baird.

The last few days have been volatile as Wall Street also tries to assess how China’s strict lockdown measures to fight COVID-19 will impact the broader global economy, including hurting demand in the world’s second-largest economy. It could be prompting a resetting of expectations while Wall Street is also still focused on the Federal Reserve’s plan to raise its benchmark interest rates this year.

“The market had gotten comfortable, to an extent, with the Fed, but when you layer on demand destruction in China, it’s a little much for the market to stomach,” Mayfield said.

Outside of technology companies, earnings for industrial and retail companies remain a key focus of Wall Street for the rest of the week. Airplane maker Boeing reports its results on Wednesday. Industrial bellwether Caterpillar reports its results on Thursday, along with McDonald’s and Amazon.

Investors are closely reviewing the latest round of corporate report cards to get a better sense of how different industries are handling rising inflation, which has prompted many companies to raise prices. The results will also give a clearer picture of how consumers are reacting to higher prices on everything from food to clothing and gasoline.

In economics news, the Conference Board reported that consumer confidence  dampened slightly in April but remains high. And on Friday the Commerce Department releases its personal income and spending report for March.

Persistently rising inflation has prompted the Fed to shift its monetary policy in order to aggressively fight inflation. The chair of the Fed has indicated the central bank may hike short-term interest rates by double the usual amount at upcoming meetings, starting next week. It has already raised its key overnight rate once, the first such increase since 2018.

Economists and investors are concerned that the U.S. economy might slow sharply or even fall into a recession because of the big interest-rate increases the Fed is expected to push through.

ASX 200 expected to sink again​The Australian share market looks set to have another bad day on Wednesday following a market selloff in the US. According to the latest SPI futures, the ASX 200 is expected to open the day 110 points or 1.5% lower this morning. 

On Wall Street, the Dow Jones fell 2.4%, the S&P 500 dropped 2.8%, and the Nasdaq has crashed 3.95%. Investors were dumping equities on fears of an economic slowdown.

The S&P 500 fell 120.92 points, or 2.8% to 4,175.20. The benchmark index closed the day with 95% of its stocks losing ground. The Dow Jones Industrial Average fell 809.28 points, or 2.4%, to 33,240.18.


----------



## bigdog

Asian shares mostly higher after wobbly day on Wall Street
					

Asian shares logged moderate gains on Thursday after Wall Street stabilized following a sell-off in tech stocks the day before.  Tokyo’s Nikkei 225 rose 1% to 26,642.88 after the Bank of Japan wrapped up a policy meeting with no major changes, maintaining its near-zero interest rate stance...




					apnews.com
				




Stocks end mixed after another wobbly day on Wall Street​By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Stocks on Wall Street managed only meager gains Wednesday, after a broad rally led by technology companies faded by late afternoon, leaving the market little changed a day after a big sell-off.

The lackluster finish punctuated a wobbly start for stocks, the latest turbulence for the market as traders brace for more earnings reports from major U.S. companies this week.

The S&P 500 saw most of a midday rally evaporate and wound up with a gain of just 0.2%. The Nasdaq ended just barely in the red after the tech stock rebound petered out. The Dow Jones Industrial Average edged up 0.2%.

The indexes rallied to a strong finish late Monday only to slump on Tuesday. They are all down 1.5% or more so far this week.

“We’re kind of in this time period where we’re in front of the Fed, earnings are OK, but the forward look at just how sustainable earnings growth might be, those are certainly open questions for people in this environment,” said Eric Freedman, chief invesment officer at U.S. Bank Asset Management Group.

The S&P 500 rose 8.76 points to 4,183.96, while the Dow added 61.75 points to 33,301.93. The Nasdaq slipped 1.81 points to 12,488.93.

Smaller company stocks lost ground. The Russell 2000 fell 6.44 points, or 0.3%, to 1,884.04.

Investors reviewed the latest batch of company earnings Wednesday, including results from several big technology and communications companies.

Software giant Microsoft rose 4.8% after reporting strong profits for its most recent quarter. Payments processing giant Visa  jumped 6.5% after reporting a surge in profits fueled by a large jump in spending on the company’s namesake credit and debit card network.

Alphabet, Google’s parent company, fell 3.7%, after posting its slowest quarterly revenue growth since 2020. Facebook’s parent company, Meta Platforms, jumped 14.6% in after-hours trading following its latest quarterly earnings, which topped Wall Street’s estimates.

Investors were also focused on earnings from industrial companies and various retailers. Boeing slumped 7.5% after it reported a loss that was far worse than Wall Street expected. Chipotle rose 2.6% after reporting solid financial results.

Twitter, Apple and Amazon will report their results on Thursday.

The latest round of company earnings comes amid lingering concerns about rising inflation and plans from central banks to raise interest rates in order to temper the impact of higher costs on businesses and consumers. Investors are closely watching to see how companies have fared amid supply chain problems and higher costs while assessing how consumers are dealing with higher prices for everything from food to clothing and gas.

“Everyone is dealing with this sort of whack-a-mole of risks that seems to be getting bigger as days and months go by,” said Katie Nixon, chief investment officer for Northern Trust Wealth Management.

The U.S. Federal Reserve is set to aggressively hike rates as it steps up its fight against inflation. The chair of the Fed has indicated the central bank may hike short-term interest rates by double the usual amount at upcoming meetings, starting next week. It has already raised its key overnight rate once, the first such increase since 2018.

Bond yields have generally been rising throughout the year as investors prepare for higher rates. The yield on the 10-year Treasury rose to 2.83% from 2.77% late Tuesday.

Wall Street remains focused on inflation’s path forward amid lingering threats from Russia’s war against Ukraine and the virus pandemic.

“We just keep moving more areas of uncertainty onto the pile of uncertainties,” Nixon said.

Natural gas prices surged as much as 24% over the last day in Europe and the euro weakened after Russia said it would cut off supplies to Poland and Bulgaria. Natural gas and oil prices had already been rising as the pandemic eased and demand increased, but the Russian invasion of Ukraine has added to price increases. Crude oil and and natural gas prices have jumped so far in 2022 and that has made gasoline and heating more expensive for consumers.

Strict lockdown measures in China have also added to concerns about slowing economic growth because of damage to the world’s second-largest economy. The flow of industrial goods has been disrupted by the suspension of access to Shanghai, home of the world’s busiest port, and other industrial cities including Changchun and Jilin in northeast China.

*ASX 200 expected to rebound*

The Australian share market looks set to rebound on Thursday.  According to the latest SPI futures, the ASX 200 is expected to open the day up 52 points or 0.7% to 7285 at 6.59am AEST higher this morning. 

Stocks on Wall Street managed only meager gains Wednesday, after a broad rally led by technology companies faded by late afternoon, leaving the market little changed a day after a big sell-off.

The S&P 500 saw most of a midday rally evaporate and wound up with a gain of just 0.2%. The Nasdaq ended just barely in the red after the tech stock rebound petered out. The Dow Jones Industrial Average edged up 0.2%.

The indexes rallied to a strong finish late Monday only to slump on Tuesday. They are all down 1.5% or more so far this week.


----------



## bigdog

Asian shares mostly higher after tech-led rebound on Wall St
					

Stocks were mostly higher in Asia on Friday after a rally on Wall Street led by technology companies.  U.S. futures and oil prices were mixed as investors await signals on Chinese economic policy from a meeting of the ruling Communist Party's powerful Politburo.




					apnews.com
				




Stocks rally on Wall Street as technology giants rebound​By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Major stock indexes on Wall Street notched their biggest gains in more than six weeks Thursday, as technology companies clawed back some of the ground they had lost recently.

The S&P 500 rose 2.5%, with roughly 85% of the stocks in the benchmark index closing higher. The Dow Jones Industrial Average climbed 1.8% and the tech-heavy Nasdaq ended 3.1% higher.

The gains erased weekly losses for the indexes, though they are all still headed for a dismal monthly finish after sliding for much of April.

This week has been especially turbulent as investors review a heavy batch of corporate earnings from major tech companies, industrial firms and retailers.

“Volatility is elevated across the board,” said Zach Hill, head of portfolio management at Horizon Investments. “We had some weakness last week and the beginning of this week, and we’re seeing some of that reverse.”

The S&P 500 rose 103.54 points to 4,287.50, while the Dow climbed 614.46 points to 33,916.39. The Nasdaq picked up 382.59 points to 12,871.53.

Smaller company stocks also rallied. The Russell 2000 rose 33.91 points, or 1.8%, to 1,917.94.

Big Tech and communications companies have been behind much of the oscillations in the broader market as their pricey stock values have more force in pushing the major indexes up or down.

Apple rose 4.5% in regular trading. It rose another 2.3% in after-hours trading after reporting stronger-than-expected results and increasing its dividend and stock repurchase program.

Chipmaker Qualcomm jumped 9.7% after easily beating Wall Street’s profit estimates. Facebook’s parent company Meta  surged 17.6%, the biggest gain among S&P 500 stocks, after it beat Wall Street’s first-quarter profit forecasts and reported an encouraging increase in daily users.

Encouraging financial reports helped support gains for several other major companies. McDonald’s rose 2.9% following a strong earnings update. Southwest Airlines rose 2.1% after reporting solid revenue and telling investors it expects a profitable year as travel demand returns with the pandemic fading.

Amazon  rose 4.7% in regular trading, but slumped 10.5% in after-hours trading after the online retail giant reported its first quarterly loss since 2015. The company reported a decline in sales and huge write-down of its investment in an electric vehicle startup.

Bond yields gained ground. The yield on the 10-year Treasury rose to 2.83% from 2.81%.

The latest round of corporate report cards are hitting the market as Wall Street tries to figure out how rising inflation is impacting businesses and consumer spending. Earnings have been mostly positive, but investors are also focusing on forecasts, which have become more difficult for many companies to provide because of all the uncertainties swirling around inflation and economic growth.

“Companies just don’t have enough transparency into the future to give any numbers on that,” said Jason Draho, head of asset allocation for the Americas at UBS Global Wealth Management.

Supply chain issues have been crimping business operations in many industries throughout the recovery from the pandemic and Russia’s ongoing war against Ukraine has worsened increases for energy and key food commodity prices. Strict COVID-19 lockdown measures in China have added to concerns about slowing growth.

“It all just fuels investor anxiety, which is high,” Draho said. “Investors are just trying to make sense of all that is happening.”

The U.S. Federal Reserve is set to aggressively hike rates as it steps up its fight against inflation. The chair of the Fed has indicated the central bank may hike short-term interest rates by double the usual amount at upcoming meetings, starting next week. It has already raised its key overnight rate once, the first such increase since 2018.

The Commerce Department on Thursday reported that the U.S. economy shrank last quarter for the first time since the pandemic recession struck two years ago. But the report showed that consumers and businesses kept spending, despite rising inflation, in a sign of underlying resilience.

Consumer spending is being closely watched as a gauge for the broader economy, as everything from food to clothing and gas becomes more expensive. Investors will get another update on spending Friday when the Commerce Department releases its personal income and spending report for March.

ASX 200 expected to rise​
The Australian share market looks set to end the week on a positive note following a very strong night of trade on Wall Street. 

According to the latest SPI futures, the ASX 200 is expected to open the day  up 50 points or 0.7 per cent to 7384 near 7am AEST.

Major stock indexes on Wall Street notched their biggest gains in more than six weeks Thursday, as technology companies clawed back some of the ground they had lost recently.

The S&P 500 rose 2.5%, with roughly 85% of the stocks in the benchmark index closing higher. The Dow Jones Industrial Average climbed 1.8% and the tech-heavy Nasdaq ended 3.1% higher.


----------



## bigdog

Tech stocks sink again, Nasdaq has worst month since 2008
					

The Dow Jones Industrial Average slumped more than 900 points Friday as another sharp sell-off led by technology stocks added to Wall Street's losses in April, leaving the S&P 500 with its biggest monthly skid since the start of the pandemic.




					apnews.com
				




Tech stocks sink again, Nasdaq has worst month since 2008​By DAMIAN J. TROISE and ALEX VEIGA

The Dow Jones Industrial Average slumped more than 900 points Friday as another sharp sell-off led by technology stocks added to Wall Street’s losses in April, leaving the S&P 500 with its biggest monthly skid since the start of the pandemic.

A sharp drop in Amazon weighed on the market after the internet retail giant posted its first loss since 2015. The decline knocked more than $200 billion off Amazon’s market value.

The benchmark S&P 500 fell 3.6% and finished April with an 8.8% loss, its worst monthly slide since March 2020. The Dow slumped 2.8%.

The Nasdaq composite, heavily weighted with technology stocks, bore the brunt of the damage this month, ending April with a 13.3% loss, its biggest monthly decline since the 2008 financial crisis.

Major indexes shifted between slumps and rallies throughout the week as the latest round of corporate earnings hit the market in force. Investors have been reviewing a particularly heavy batch of financial results from big tech companies, industrial firms and retailers.

But some disappointing results or outlooks from Apple, Google’s parent company and Amazon helped fuel the selling this week.

“When you start to hear from companies saying that perhaps demand is down, the concerns over a deeper slowdown in the economy gains momentum, and that’s where we are,” said Quincy Krosby, chief equity strategist for LPL Financial.

Traders also continue to fret about the tough medicine the Federal Reserve is using in its fight against inflation: higher interest rates. The central bank is expected to announce another round of rate hikes next week, a move that will further increase borrowing costs across the board for people buying cars, using credit cards and taking out mortgages to buy homes.

“Rising cost pressures and uncertain outlooks from the largest technology names have investors agitated going into the weekend and investors are not likely to be comfortable any time soon with the Fed widely expected to deliver a 50-basis point hike along with a hawkish message next week,” said Charlie Ripley, senior investment strategist for Allianz Investment Management.

The S&P 500 fell 155.57 points to 4,131.93 Friday. The benchmark index is now down 13.3% for the year. The Dow dropped 939.18 points to 32,977.21. The Nasdaq slid 536.89 points to 12,334.64. It’s down 21.2% so far this year.

Smaller company stocks also had a rough day. The Russell 2000 slid 53.84 points, or 2.8%, to 1,864.10.

Big Tech has been leading the market lower all month as traders shun the high-flying sector. Tech had posted gigantic gains during the pandemic and now is starting to look overpriced, particularly with interest rates set to rise sharply as the Fed steps up its fight against inflation.

Internet retail giant Amazon slumped 14%, one of the biggest decliners in the S&P 500, a day after reporting a rare quarterly loss and giving investors a disappointing revenue forecast. The weak update from Amazon comes as Wall Street worries about a potential slowdown in consumer spending along with rising inflation.

Prices for everything from food to gas have been rising as the economy recovers from the pandemic and there has been a big disconnect between higher demand and lagging supplies. Russia’s invasion of Ukraine has only added to inflation worries as it drives price increases for oil, natural gas, wheat and corn.

The Commerce Department on Friday reported that an inflation gauge closely tracked by the Federal Reserve surged 6.6% in March compared with a year ago, the highest 12-month jump in four decades and further evidence that spiking prices are pressuring household budgets and the health of the economy.

The latest report on rising U.S. inflation follows a report from statistics agency Eurostat that shows inflation hit a record high in April of 7.5% for the 19 countries that use the euro.

Bond yields rose following the hot readings on inflation. The yield on the 10-year Treasury rose to 2.92% from 2.85%.

Persistently rising inflation has prompted central banks to raise interest rates in order to temper the impact on businesses and consumers.

Much of the anxiety on Wall Street in April has centered around how quickly the Fed will raise its benchmark interest rate and whether an aggressive series of hikes will crimp economic growth. The chair of the Fed has indicated the central bank may raise short-term interest rates by double the usual amount at upcoming meetings, starting next week. It has already raised its key overnight rate once, the first such increase since 2018, and Wall Street is expecting several big increases over the coming months.

Investors spent much of April shifting money away from Big Tech companies, whose stock values benefit from low interest rates, to areas considered less risky. The S&P 500′s consumer staples sector, which includes many household and personal goods makers, was the only sector in the benchmark index to make gains in April. Other safe-play sectors, such as utilities, held up better than the broader market, while technology and communications stocks are among the biggest losers.


----------



## Dona Ferentes

bigdog said:


> *Tech stocks sink again, Nasdaq has worst month since 2008*
> The Dow Jones Industrial Average slumped more than 900 points Friday as another sharp sell-off led by technology stocks added to Wall Street’s losses in April, leaving the S&P 500 with its biggest monthly skid since the start of the pandemic.
> ..... Big Tech has been leading the market lower all month as traders shun the high-flying sector. Tech had posted gigantic gains during the pandemic and now is starting to look overpriced, particularly with interest rates set to rise sharply as the Fed steps up its fight against inflation...



and local _boy wonders _might not be sitting so pretty. *Atlassian *down 13.5% to 224 yesterday, which is under the high of 483 early Nov 2021, by more than 50%. Now I wonder if Cannon-Brookes has pledged stock to fund all those wonderful projects announced over recent years; might be getting a call from some bankers? Maybe some properties back on the market?


----------



## bigdog

ASX 200 expected to sink​
The Australian share market looks set to start the week deep in the red following a very poor finish on Wall Street on Friday. 

According to the latest SPI futures, the ASX 200 is expected to open the day 94 points or 1.25% lower this morning. 

On Wall Street, The S&P 500 fell 155.57 points to 4,131.93 Friday. The benchmark index is now down 13.3% for the year. The Dow dropped 939.18 points to 32,977.21. The Nasdaq slid 536.89 points to 12,334.64. It’s down 21.2% so far this year.


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## qldfrog

Interesting night in NY.
For whoever was up early or went to bed very late:
We got a flash crash in Europe..quickly recovered..in prep for a tactical nuke news next?
A heavy fall on gold..but not match by physical
And at 4am, US market were all heavy in red...and then happily galloped to finish in a very healthy green...
Make what you want of that..i am sure today's fin news will find good reasons post facts😊
Being in Oz's she will be right nation..expect the asx200 to boom today...


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## bigdog

https://apnews.com/article/russia-u...iness-health-1ecdc30318abf192f221752bc9506a7a

Late tech rally leaves Wall Street indexes modestly higher​By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — A late-afternoon turnaround led by technology stocks left major indexes moderately higher on Wall Street Monday, averting more losses for the market following a brutal April in which widespread tech sell-offs dragged down major benchmarks.

The S&P 500 rose 0.6% after having been down 1.7% earlier in the day. The Dow Jones Industrial Average rose 0.3% and the tech-heavy Nasdaq gained 1.6%.

Bond prices fell, pushing yields higher. The yield on the 10-year Treasury briefly rose to its highest level since late 2018.

The uneven start to May follows an 8.8% skid for the benchmark S&P 500 in April led by Big Tech companies, which started to look overpriced, particularly with interest rates set to rise sharply as the Federal Reserve moves to tame surging inflation. The central bank is expected to announce another interest rate hike on Wednesday.

“After the carnage of last week and the first four months of the year, I wonder if maybe we’re getting another ‘sell-the-rumor, buy-the-news’ sort of event with respect to the Fed,” said Willie Delwiche, investment strategist at All Star Charts.

The S&P 500 rose 23.45 points to 4,155.38, while the Dow added 84.29 points to 33,061.50. The blue-chip index bounced back from a 527-point deficit. The Nasdaq rose 201.38 points to 12,536.02.

Smaller company stocks also reversed course after spending much of the day in the red. The Russell 2000 index rose 18.18 points, or 1%, to 1,882.91.

Just over half of the stocks in the S&P 500 closed higher, with the technology and communication sectors driving much of the advance. Chipmaker Nvidia and Facebook’s parent company, Meta Platforms, each rose 5.3%.

The broader market often bends to the direction of technology stocks. Many companies in the sector have pricey stock values and therefore have more force in pushing the major indexes up or down.

Still, it’s unusual for tech stocks to rally at the same time that bond yields are rising. That’s because higher yields make bonds increasingly attractive assets relative to more risky and expensive stocks, particularly those of technology and other growth-oriented companies.

“Yields moving higher so far this year has been bad news for growth stocks,” Delwiche said. “That you can have this bounce this afternoon in growth stocks while yields are holding up is a little bit surprising.”

U.S. crude oil prices were relatively unchanged after slipping earlier in the day. European energy ministers are meeting in Brussels to discuss Russian supply issues and sanctions. Russia’s invasion of Ukraine prompted a jump in already high oil and natural gas prices.

Bond yields rose significantly. The yield on the 10-year Treasury rose to 2.99% after briefly rising to 3.00% from 2.89% late Friday. It hadn’t been above 3% since Dec. 3, 2018, according to Tradeweb.

Treasury yields have been rising all year as investors prepare for higher interest rates. Markets are expecting an extra-large interest rate increase this week from the Federal Reserve as it tries to tame inflation, which is at its highest level in four decades.

The central bank is expected to raise short-term interest rates by double the usual amount when it releases its latest statement on Wednesday. It has already raised its key overnight rate once, the first such increase since 2018, and Wall Street is expecting several big increases over the coming months.

Rate hikes from the Fed will further increase borrowing costs across the board for people buying cars, using credit cards and taking out mortgages  to buy homes. Investors have been concerned about rising inflation and its impact on businesses and consumers. But, they are also concerned about how the rate hikes will play out in fighting inflation and whether a more aggressive Fed could actually hurt economic growth.

Concerns about rising inflation have also been hanging over the latest round of corporate earnings. Disappointing results or outlooks from Apple, Google’s parent company and Amazon helped fuel the selling last week. Investors are reviewing the latest results and statements to gauge just how heavily rising costs have impacted operations and whether price hikes have hampered sales.

Wall Street is in for another busy week of earnings reports. Pfizer reports results on Tuesday, CVS Health reports results on Wednesday, and Kellogg reports results on Thursday.

ASX 200 expected to fall again​
The Australian share market looks set to continue its slide on Tuesday despite a rebound on Wall Street.  According to the latest SPI futures, the ASX 200 is poised to open the day 25 points or 0.35% lower. 

On Wall Street,  a late-afternoon turnaround led by technology stocks left major indexes moderately higher on Wall Street Monday, averting more losses for the market following a brutal April in which widespread tech sell-offs dragged down major benchmarks.

The S&P 500 rose 0.6% after having been down 1.7% earlier in the day. The Dow Jones Industrial Average rose 0.3% and the tech-heavy Nasdaq gained 1.6%.


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## bigdog

Asian shares slip ahead of Fed interest rate decision
					

Shares were mostly lower in Asia on Wednesday, with markets in China, Japan and some other markets still closed for holidays.  Hong Kong and Seoul fell more than 1% and oil prices were higher.




					apnews.com
				




Stocks edge higher on Wall Street ahead of Fed rate decision​By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Stocks eked out modest gains after a choppy day of trading Tuesday as Wall Street waits to find out how aggressively the Federal Reserve will raise interest rates at its latest policy meeting on Wednesday.

The S&P 500 ended 0.5% higher after briefly slipping into the red earlier in the day. The Dow Jones Industrial Average rose 0.5% and the Nasdaq inched up 0.2%.

Banks and other financial stocks helped lift the market. Energy stocks also made solid gains following encouraging quarterly earnings reports from several oil and gas companies. Retailers and other companies that rely on direct consumer spending lagged the broader market.

Bond yields were mixed. The yield on the 10-year Treasury fell to 2.97% from 2.99% late Monday. Treasury yields have been generally rising all year as investors prepare for higher interest rates, which will make borrowing money more expensive.

The Fed is expected to raise its benchmark rate by twice the usual amount this week as it steps up its fight against inflation, which is at a four-decade high.

“Right now, the market wants to hear that the Fed is going to be ahead of inflation,” said Megan Horneman, chief investment officer at Verdence Capital Advisors. “What would spook the market is if there’s any hint of dovishness in their tone.”

The S&P 500 rose 20.10 points to 4,175.48. The Dow gained 67.29 points to 33,128.79. The Nasdaq rose 27.74 points to 12,563.76.

Technology stocks held on to slight gains after a mixed morning. Many companies in the sector have pricey stock values and therefore have more force in pushing the major indexes up or down. Apple rose 1%.

Smaller company stocks outpaced the broader market. The Russell 2000 added 15.94 points, or 0.9%, to 1,898.86.

The market’s moderate gains follow a late-day rally on Monday that gave indexes a positive start to May after a brutal April.

“The rally in stocks yesterday and today is just positioning and squaring ahead of the Fed’s meeting tomorrow,” said Zach Hill, head of portfolio management at Horizon Investments.

Wall Street’s key focus over the next several days is the Fed. The central bank is meeting on Tuesday and will release a statement on Wednesday. Investors expect it to raise its benchmark rate by twice the usual amount this week as it steps up its fight against inflation, which is at a four-decade high. It has already raised its key overnight rate once, the first such increase since 2018, and Wall Street is expecting several big increases over the coming months.

The Fed’s aggressive shift to raise interest rates comes as rising inflation puts more pressure on businesses and consumers. Higher costs for energy and other commodities have prompted many businesses to raise prices and issue cautious forecasts to their investors. Wall Street and economists are worried that higher prices on everything from food to gas and clothing will prompt a slowdown in consumer spending and crimp economic growth.

Investors have been closely reviewing the latest round of company earnings to get more details on how inflation is impacting business and consumer activity.

Household goods giant Clorox rose 3% after reporting solid quarterly profits, but it also cut its profit forecast for the year because of higher costs. Starbucks will report its results later Tuesday. CVS Health will report its financial results on Wednesday.

BP jumped 8% after reporting its highest quarterly profit in more than a decade thanks to surging oil and gas prices. Devon Energy rose 10.2% and Diamondback Energy gained 6.8% after they reported strong financial results.

Investors are getting some updates on the labor market, which was slow to recover from the pandemic initially, but has grown stronger. The Bureau of Labor Statistics reported on Tuesday that employers posted a record 11.5 million job openings  in March, meaning the United States now has an unprecedented two job openings for every person who is unemployed.

On Friday, the Labor Department is expected to report that the economy generated another 396,000 new jobs in April, according FactSet. That would mark an unprecedented 12th straight month that hiring has come in at roughly 400,000 or more.

ASX 200 expected to rebound​
The Australian share market looks set to rebound on Wednesday following a solid night in the US. According to the latest SPI futures, the ASX 200 is expected to open the day 36 points or 0.5% higher this morning.

On Wall Street, stocks eked out modest gains after a choppy day of trading Tuesday as Wall Street waits to find out how aggressively the Federal Reserve will raise interest rates at its latest policy meeting on Wednesday.

The S&P 500 ended 0.5% higher after briefly slipping into the red earlier in the day. The Dow Jones Industrial Average rose 0.5% and the Nasdaq inched up 0.2%.


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## bigdog

https://apnews.com/article/russia-u...onomy-europe-2aa3a3315649570b7e2f391c7e4f9a21

*Markets cheer after Powell downplays even larger rate hikes*

By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — The Dow Jones Industrial Average surged more than 900 points and the S&P 500 had its biggest gain in two years Wednesday after Federal Reserve Chair Jerome Powell downplayed the likelihood of an even larger interest rate hike after announcing the sharpest rate increase since 2000.

The remarks, which came after the Fed announced its decision to raise its key interest rate by double the usual amount, allayed concerns that the central bank was on its way to a massive increase of three-quarters of a percentage point at its next meeting in June.

The S&P 500 climbed 3%, its best day since May 2020. The benchmark index is now up 4.1% this week, which represents roughly half its monthly loss in April. The Dow jumped 2.8% and the Nasdaq climbed 3.2%. The indexes had all briefly been in the red earlier in the day.

Bond yields fell after the Fed’s announcement. The yield on the 2-year Treasury dropped to 2.64% from 2.78% late Tuesday, an unsually large move. The yield on the 10-year Treasury, which influences mortgage rates, fell to 2.93% from 2.96% It had initially jumped to 3.01% until Powell’s remarks during a press conference.

The comments came shortly after the Fed said it raised its benchmark short-term interest rate by a half-percentage point, it’s most aggressive move since 2000, and signaled further large rate hikes ahead. The increase raised the Fed’s key rate to a range of 0.75% to 1%, the highest point since the pandemic struck two years ago.

The Fed also announced details of how it will start reducing its huge holdings of Treasury debt and mortgage-backed securities, a tool the central bank has used to help keep long-term interest rates low.

The S&P 500 rose 124.69 points to 4,300.17. The Dow climbed 937.27 points to 34,061.06. The Nasdaq gained 401.10 points to 12,964.86.

Smaller company stocks also posted solid gains. The Russell 2000 rose 51.07 points, or 2.7%, to 1,949.92.

The latest move by the Fed had been widely expected, with markets steadying this week ahead of the policy update, but Wall Street was concerned the Fed might elect to raise rates by three-quarters of a percentage point in the months ahead.

Powell eased those concerns, saying the central bank is “not actively considering” such an increase.

The VIX, an index that measures how worried investors are about upcoming drops for the S&P 500, fell about 11%, one of its biggest drops this year, after Powell’s remarks.

Earlier, Powell also said the economy can make it through rate increases without falling into a recession.

“The economy is strong and well positioned to handle tighter monetary policy,” he said, though he cautioned “it’s not going to be easy.”

Investors are worrying about whether the Fed can pull off the delicate dance to slow the economy enough to halt high inflation but not so much as to cause a downturn. Still, the market cheered the Fed’s latest moves.

“It’s certainly heady days when the market doesn’t blink at the most aggressive rate hike in 22 years, but keep in mind this was extremely well-telegraphed and priced in,” said Mike Loewengart, managing director, investment strategy at E-TRADE from Morgan Stanley.

The central bank also announced that it will start reducing its huge $9 trillion balance sheet, which consists mainly of Treasury and mortgage bonds, starting June 1.

The market’s gains were widespread Wednesday. Roughly 85% of the stocks in the S&P 500 notched gains, with technology companies powering much of the advance. Apple rose 4.1%.

Energy stocks were among the biggest gainers following a 5.3% increase in the price of U.S. crude oil after Europe took a step closer to placing an embargo on Russian oil as that country continues its war against Ukraine. Any embargo could strain oil supplies and push prices still higher. Exxon Mobil rose 4%.

The Fed’s aggressive shift to raise interest rates comes as rising inflation puts more pressure on businesses and consumers. Higher costs for energy and other commodities have prompted many businesses to raise prices and issue cautious forecasts to their investors. Wall Street and economists are worried that higher prices on everything from food to gas and clothing will prompt a slowdown in consumer spending and crimp economic growth.

The worries have worsened with Russia’s invasion of Ukraine and its impact on energy and key food commodity prices. China’s increasingly stricter lockdown measures because of rising COVID-19 cases have also added concerns about slower economic growth because of supply problems and shipping backlogs.

Wall Street is closely watching economic data for any signs that inflation might be easing. Consumer prices surged in March, but a measure of inflation that excludes food and energy had its smallest monthly rise since September. That was a welcome sign for investors and more of the same in the coming months cold temper inflation concerns.

“If we can get just a few more readings showing inflation slowing, that could be the match that sparks some confidence,” said Ryan Detrick, chief market strategist for LPL Financial.

ASX 200 expected to rebound​
The Australian share market looks set to rebound on Thursday following an excellent night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 38 points or 0.5% higher this morning. 

On Wall Street, the Dow Jones Industrial Average surged more than 900 points and the S&P 500 had its biggest gain in two years Wednesday after Federal Reserve Chair Jerome Powell downplayed the likelihood of an even larger interest rate hike after announcing the sharpest rate increase since 2000.

The S&P 500 climbed 3%, its best day since May 2020. The benchmark index is now up 4.1% this week, which represents roughly half its monthly loss in April. The Dow jumped 2.8% and the Nasdaq climbed 3.2%. The indexes had all briefly been in the red earlier in the day.


----------



## bigdog

Asian stocks follow Wall St down as rate hike worries grow
					

BEIJING (AP) — Asian stocks followed Wall Street lower Friday as fears spread that U.S. interest rate hikes to fight inflation might stall economic growth. Shanghai, Hong Kong, Seoul and Sydney declined.




					apnews.com
				




Stocks slump 3% as worries grow over higher interest rates​By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — A sharp sell-off left the Dow Jones Industrial Average more than 1,000 points lower Thursday, wiping out the gains from Wall Street’s biggest rally in two years, as worries grow that the higher interest rates the Federal Reserve is using in its fight against inflation will derail the economy.

The benchmark S&P 500 fell 3.6%, marking its biggest loss in nearly two years, a day after it posted its biggest gain since May 2020. The Nasdaq slumped 5%, its worst drop since June 2020. The losses by the Dow and the other indexes offset the gains from a day earlier.

“Yesterday’s sharp rally was not rooted in reality and today’s dramatic selloff is a reversal of that misplaced exuberance,” said Ben Kirby, co-head of investments at Thornburg Investment Management.

Wall Street’s breakneck day-to-day reversal reflects the degree of investors’ uncertainty and unease over the array of threats the economy is facing, starting with inflation running at the highest level in four decades, and how effective the Federal Reserve’s bid to tame higher prices by jacking up interest rates will be.

On Wednesday, the Federal Reserve announced a widely expected half-percentage point increase in its short-term interest rate. Stocks bounced around following the move but then sharply rose as bond yields fell after Fed Chair Jerome Powell reassured investors by saying the central bank wasn’t considering shifting to more aggressive, three-quarters point rate hikes as the Fed continues with further rate increases in coming months.

But whatever relief Powell’s remarks gave stock investors vanished Thursday. Stocks slumped and bond yields climbed. The yield on the 10-year Treasury note rose to 3.04%. Rising yields are sure to put upward pressure on mortgage rates, which are already at their highest level since 2009.

Investors remain uneasy about about whether the Fed can do enough to tame inflation without tipping the economy, which is already showing signs of slowing, into a recession. In addition to high inflation and rising interest rates, investors are grappling with uncertainty over lingering supply chain disruptions and geopolitical tensions.

“The biggest issue is there are just a lot of moving parts and the unanswered question is to what extent as the Fed attempts to tame inflation will that result in economic slowing, and perhaps, a recession,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.

The S&P 500 fell 153.30 points to 4,146.87, while the Nasdaq slid 647.16 points to 12,317.69. The Dow briefly skidded 1,375 points before closing down 1,063.09 points, or 3.1%, to 32,997.97.

Smaller company stocks also fell sharply. The Russell 2000 fell 78.77 points, or 4%, to 1,871.15.

The Fed’s aggressive shift to raise interest rates has investors worrying about whether it can pull off the delicate dance to slow the economy enough to halt high inflation but not so much as to cause a downturn.

On Wednesday, Powell said there was a “good chance” that the economy will have a “soft or softish landing or outcome” as the central bank raises rates.

But Wall Street isn’t necessarily convinced.

“Concerns focus on whether the Fed will have to become even more hawkish to bring demand down — and that would involve slowing the economy more than they now project,” said Quincy Krosby, chief equity strategist for LPL Financial. “And today’s market action is questioning whether ‘soft-ish’ is plausible.”

The latest move by the Fed to raise interest rates by a half-percentage point had been widely expected. Markets steadied this week ahead of the policy update, but Wall Street was concerned the Fed might elect to raise rates by three-quarters of a percentage point at its next meeting. Powell eased those concerns, saying the central bank is “not actively considering” such an increase.

The central bank also announced that it will start reducing its huge $9 trillion balance sheet, which consists mainly of Treasury and mortgage bonds, starting June 1. Those large holdings are a policy tool the Fed uses to keep long-term interest rates, like those on mortgages, low.

When Powell said the Fed wasn’t considering a mammoth increase in short-term rates, that sent a signal to investors to send stock prices soaring and bond yields tumbling. A slower pace of interest-rate hikes would mean less risk of the economy tipping into recession, as well as less downward pressure on prices for all kinds of investments.

But diminishing the odds of a three-quarters point hike doesn’t mean the Fed is done raising rates steadily and sharply as it fights to tame inflation, not even close. Economists at BNP Paribas still expect the Fed to keep hiking the federal funds rate until it reaches a range of 3% to 3.25%, up from zero to 0.25% earlier this year.

“We do not think this was Chair Powell’s intention,” economists at BNP Paribas wrote in a report, citing the market’s jubilance on Wednesday, “and we reckon we could see coming ‘Fedspeak’ seek to re-tighten financial conditions.”

The Bank of England on Thursday raised its benchmark interest rate to the highest level in 13 years, its fourth rate hike since December as U.K. inflation runs at 30-year highs.

Energy markets remain volatile as the conflict in Ukraine continues and demand remains high amid tight supplies of oil. European governments are trying to replace energy supplies from Russia and are considering an embargo. OPEC and allied oil-producing countries decided Thursday to gradually increase the flows of crude they send to the world.

Higher oil and gas prices have been contributing to the uncertainties weighing on investors as they try to assess how inflation will ultimately impact businesses, consumer activity and overall economic growth.

Homebuilders fell broadly Thursday as average long-term home loan rates climbed. D.R. Horton slid 5.8%.

The average rate on a 30-year fixed-rate mortgage rose to 5.27% this week, its highest level since 2009, according to mortgage buyer Freddie Mac. A year ago, it averaged 2.96%. Mortgage rates tend to follow moves in the 10-year Treasury yield. The sharp increase in mortgage rates has strained affordability for homebuyers after years of sharply rising prices.

ASX 200 expected to sink​ The Australian share market looks set to end the week deep in the red following a selloff on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 109 points or 1.5% lower this morning. 

In the US, a sharp sell-off left the Dow Jones Industrial Average more than 1,000 points lower Thursday, wiping out the gains from Wall Street’s biggest rally in two years, as worries grow that the higher interest rates the Federal Reserve is using in its fight against inflation will derail the economy.

The benchmark S&P 500 fell 3.6%, marking its biggest loss in nearly two years, a day after it posted its biggest gain since May 2020. The Nasdaq slumped 5%, its worst drop since June 2020. The losses by the Dow and the other indexes offset the gains from a day earlier.

The S&P 500 fell 153.30 points to 4,146.87, while the Nasdaq slid 647.16 points to 12,317.69. The Dow briefly skidded 1,375 points before closing down 1,063.09 points, or 3.1%, to 32,997.97.


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## bigdog

Stocks end rocky week with their 5th straight weekly decline
					

NEW YORK (AP) — A turbulent week on Wall Street ended Friday with more losses and the stock market's fifth straight weekly decline.  The latest pullback came as investors balanced a strong U.S.




					apnews.com
				




Stocks end rocky week with their 5th straight weekly decline​By STAN CHOE and ALEX VEIGA

NEW YORK (AP) — A turbulent week on Wall Street ended Friday with more losses and the stock market’s fifth straight weekly decline.

The latest pullback came as investors balanced a strong U.S. jobs report against worries the Federal Reserve may cause a recession in its drive to halt inflation.

The S&P 500 ended with a loss of 0.6%, having come back partway from a bigger loss of 1.9%. Roughly 70% of the companies in the benchmark index fell. Technology stocks weighed down the index the most.

The Dow Jones Industrial Average fell 0.3%, while the Nasdaq slid 1.4%. Both indexes also pared some of their losses from earlier in the day.

Investors focused on new data Friday showing U.S. employers continue to hire rapidly, and workers are getting relatively big raises, though short of inflation. The market’s reaction reflects concerns among investors that the strong numbers would keep the Fed on track for sharp and steady increases in interest rates to corral inflation, analysts said.

The S&P 500 fell 23.53 points to 4,123.34. The Dow dropped 98.60 points to 32,899.37. The Nasdaq fell 173.03 points to 12,144.66.

Smaller companies fell more than the broader market. The Russel 2000 slid 31.58 points, or 1.7%, to 1,839.56.

Friday’s choppy trading followed even wilder gyrations earlier this week, as all kinds of markets, from bonds to cryptocurrencies, grapple with a new market order where the Federal Reserve is aggressively moving to yank supports for the economy put in place through the pandemic.

The Fed is hoping to raise rates and slow the economy enough to snuff out the highest inflation in four decades, but it risks choking off growth if it goes too far or too quickly. The Fed raised its key short-term interest rate this week by a half a percentage point, the largest such increase since 2000. It also said more increases that size are likely on the way.

Not only do higher interest rates tap the brakes on the economy by making it more expensive to borrow, they also put downward pressure on prices of all kinds of investments. Beyond interest rates and inflation, the war in Ukraine and the continuing COVID-19 pandemic are also weighing on markets.

Stocks nevertheless zoomed higher Wednesday afternoon, after latching onto a sliver of hope from Federal Reserve Chair Jerome Powell’s comments following the latest rate increase. He said the Fed was not “actively considering” an even bigger jump of 0.75 percentage points at its next meeting, something markets had seen as a near certainty.

Jubilance was the market’s instant reaction, with the S&P 500 soaring 3% for its best day in nearly two years. It sobered up the next day, though, amid recognition that the Fed is still set to raise rates aggressively in its battle against inflation. The S&P 500 on Thursday lost all its prior day’s gains, plus a bit more, in one of its worst days since the early 2020 slump caused by the coronavirus pandemic.

That may be why stocks faltered Friday, after data showed hiring is still strong and pressure remains high on companies to raise pay for workers.

“These data do not change the outlook for Fed policy; the rates trajectory remains upward in the near term,” Rubeela Farooqi, chief U.S. economist at High Frequency Economics, wrote in a note.

Many of the factors driving inflation higher could linger well into 2022, said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute. The latest swings in the markets could mean investors are getting closer to better adjusting for the Fed’s aggressive policy shift, Samana said.

“Powell’s conference didn’t change anything; there’s still plenty of inflation,” he said. “You’re probably getting to point where the Fed at least won’t be as much of a market driver.”

Treasury yields also swung sharply following the release of the jobs report.

The yield on the two-year Treasury, which moves with expectations for Fed policy, initially shot as high as as 2.77% earlier in the morning. But it then slipped to 2.70%, down from 2.71% late Thursday.

The yield on the 10-year Treasury leaped toward 3.13% shortly after the data’s release, slipped a bit then climbed to 3.14% by late afternoon. That’s still close to its highest level since 2018 and more than double where it started 2022, at just 1.51%.

The swings came as economists pointed to some possible signs of peaking within the jobs market, which may be an early signal inflation is set to moderate. That could ultimately mean less pressure on the Federal Reserve to raise rates so forcefully.

While workers’ wages were 5.5% higher in April than a year earlier, in line with economists’ expectations, the growth in average hourly pay from March levels was slightly below forecasts. Slower wage gains are discouraging for workers, but investors see them meaning less upward pressure on inflation.

BlackRock’s chief investment officer of global fixed income, Rick Rieder, pointed to surveys showing companies’ ability to hire becoming easier and other signs that some slack may be building in the red-hot job market.

“That raises the question of whether the Fed may slow its tightening process at some point over the coming months as a result of these expected trends, but while that’s possible recent data won’t provide markets much comfort of that happening anytime soon,” Rieder said in a report.

For now, expectations of rising interest rates have been hitting high-growth stocks in particular.

Much of that is because many of them are seen as the most expensive following years of leading the market. Many tech-oriented stocks have been among the market’s biggest losers this year, including Netflix, Nvidia and Facebook’s parent company Meta Platforms.

Nearly half the Nasdaq stocks were recently down by at least 50% from their 52-week highs, according to a BofA Global Research report from chief investment strategist Michael Hartnett.


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## bigdog

ASX 200 expected to tumble​ The Australian share market looks set to start the week in the red following a poor night on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 51 points or 0.7% lower this morning. 

On Wall Street Friday, the Dow Jones fell 0.3%, the S&P 500 dropped 0.6%, and the Nasdaq tumbled 1.4%.


----------



## bigdog

Asian stocks follow Wall St down on rate hike, economy fears
					

BEIJING (AP) — Asian stocks followed Wall Street lower Tuesday as fears increased that U.S. rate hikes to fight inflation might stall economic growth. Market benchmarks in Tokyo, Hong Kong, Seoul and Sydney fell.




					apnews.com
				




Wall Street’s losses worsen as markets tumble worldwide​By STAN CHOE and ALEX VEIGA

NEW YORK (AP) — Stocks racked up more losses on Wall Street Monday, leaving the S&P 500 at its lowest point in more than a year.

The sell-off came as renewed worries about China’s economy piled on top of global financial markets already battered by rising interest rates.

The S&P 500 tumbled 3.2%, deepening its losses following five straight down weeks, its longest such streak in more than a decade.

The Dow Jones Industrial Average fell 2% and the Nasdaq pulled back 4.3% as tech-oriented stocks again took the brunt of the selling. Monday’s sharp drop leaves the S&P 500, Wall Street’s main measure of health, down 16.8% from its record set early this year.

Wall Street’s pullback followed a worldwide swoon for markets. Not only did stocks fall across Europe and much of Asia, but so did everything from old-economy crude oil to new-economy bitcoin. Bond yields and the price of gold also fell.

Among U.S. stocks, the energy sector, a star performer in recent weeks, accounted for some of the sharpest declines as oil and gas prices fell. Marathon Oil and APA Corp. each sank more than 14%.

“Basically, investors are finding it very difficult to find a place to hide,” said Sam Stovall, chief investment strategist at CFRA. “The traditional safe havens, such as defensive sectors or such as bonds, are not doing that well. Commodities are not doing well.”

The S&P 500 fell 132.10 to 3,991.24. The Dow dropped 653.67 points to 32,245.70. The Nasdaq slid 521.41 points to 11,623.25.

Smaller company stocks also fell broadly. The Russell 2000 gave up 77.48 points, or 4.2%, to 1,762.08.

Most of this year’s damage has been the result of the Federal Reserve’s aggressive flip away from doing everything it can to prop up financial markets and the economy. The central bank has already pulled its key short-term interest rate off its record low near zero, where it sat for nearly all the pandemic. Last week, it signaled additional increases of double the usual amount may hit in upcoming months, in hopes of stamping out the high inflation sweeping the economy.

The moves by design will slow the economy by making it more expensive to borrow. The risk is the Fed could cause a recession if it raises rates too high or too quickly. In the meantime, higher rates discourage investors from paying very high prices for investments, because investors can get a better return from owning super-safe Treasury bonds than they could just a few weeks ago.

That’s helped cause a roughly 29% tumble for bitcoin since April’s start, for example. It dropped 9.7% Monday, according to Coindesk.

Worries about the world’s second-largest economy added to the gloom Monday. Analysts cited comments over the weekend by a Chinese official warning of a grave situation for jobs, as the country hopes to halt the spread of COVID-19.

Authorities in Shanghai have again tightened restrictions, amid citizen complaints that it feels endless, just as the city was emerging from a month of strict lockdown after an outbreak.

The fear is that China’s strict anti-COVID policies will add more disruptions to worldwide trade and supply chains, while dragging on its economy, which for years was a main driver of global growth.

In the past, Wall Street has endured similar pressures because of the strong profit growth that companies were producing.

But this most recent earnings reporting season for big U.S. companies has yielded less enthusiasm. Companies overall are reporting bigger profits than expected, as is usually the case. But discouraging signs for future growth have been plentiful.

The number of companies citing “weak demand” in their conference calls following earnings reports jumped to the highest level since the second quarter of 2020, strategist Savita Subramanian wrote in a BofA Global Research report. Tech earnings are also lagging, she said.

The tech sector is the largest in the S&P 500 by market value, giving it additional weight for the market’s movements. Many tech-oriented companies saw profits boom through the pandemic as people looked for new ways to work and entertain themselves while locked down at home. But slower profit growth leaves their stocks vulnerable after their prices shot so high on expectations of continued gains.

The higher interest rates engineered by the Fed are also hitting tech stocks particularly hard because they’re seen as some of the market’s most expensive. The Nasdaq composite’s loss of 25.7% for 2022 so far is much sharper than that for other indexes.

Electric automaker Rivian Automotive slumped 20.9% Monday as restrictions expire that prevented some big investors from selling their shares following its stock market debut six months ago. The company has lost more than three quarters of its value so far this year.

The yield on the 10-year Treasury has shot to its highest level since 2018 as inflation and expectations for Fed action rose. It moderated Monday, dipping to 3.03% from 3.12% late Friday. But it’s still more than double where it started the year.

Oil prices fell, weighing down energy stocks. Benchmark U.S. crude fell 6.1% to settle at $103.09 per barrel, though it’s still up about 40% this year. Brent crude, the international standard, fell 5.7% to settle at $105.94 a barrel.

ASX 200 expected to fall again​ The Australian share market looks set to continue to sink on Tuesday after another selloff on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 97 points or 1.35% lower. 

On Wall Street, stocks racked up more losses on Wall Street Monday, leaving the S&P 500 at its lowest point in more than a year.

The sell-off came as renewed worries about China’s economy piled on top of global financial markets already battered by rising interest rates.

The S&P 500 tumbled 3.2%, deepening its losses following five straight down weeks, its longest such streak in more than a decade.

The Dow Jones Industrial Average fell 2% and the Nasdaq pulled back 4.3% as tech-oriented stocks again took the brunt of the selling. Monday’s sharp drop leaves the S&P 500, Wall Street’s main measure of health, down 16.8% from its record set early this year.


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## bigdog

Asian stocks mixed, China gains ahead of US price data
					

Shares were mixed in Asia on Wednesday with Chinese benchmarks pressing higher after a rally in technology companies helped reverse most of an early slide on Wall Street.  Hong Kong's Hang Seng rose 1.1% to 19,853.66 and the Shanghai Composite index climbed 1.4% to 3,079.40.




					apnews.com
				




Stocks turn mixed on Wall Street a day after big sell-off​By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Stock indexes on Wall Street ended a choppy day of trading with a mixed finish Tuesday, after an afternoon rally in technology companies helped reverse an early slide.

The S&P 500 closed 0.2% higher, snapping a three-day losing streak, after swinging between a gain of 1.9% and a loss of 0.8%. A day earlier, the benchmark index slumped 3.2%, hitting its lowest level in more than a year.

The Dow Jones Industrial Average slipped 0.3%, while the tech-heavy Nasdaq climbed about 1%.

Big technology stocks, which have been swinging sharply both up and down recently, helped counter losses elsewhere in the market.

The market’s see-saw action came ahead of the release of the Labor Department’s consumer price index, a key economic report on inflation that investors will be closely watching as they try to gauge how aggressively the Federal Reserve will raise interest rates as it fights inflation.

Economists expect the index eased to 8.1% in the 12 months ended in April. That would mark the first annual decline since August.

“If inflation is a lot lower, as they’re expecting it to be, then we may very well see the markets rally because perhaps people think the Fed won’t hike as much or as aggressively,” said Randy Frederick, managing director of trading & derivatives at Charles Schwab.

The S&P 500 rose 9.81 points to 4,001.05. The Dow slipped 84.96 points to 32,160.74. The Nasdaq gained 114.42 points to 11,737.67.

The Russell 2000 index of smaller companies fell 0.29 points, or less than 0.1%, to 1,761.79.

Big technology stocks, which have been swinging sharply both up and down recently, accounted for much of the S&P 500′s turnaround. Apple rose 1.6% and Microsoft rose 1.9%.

Gains in communication and health care stocks also helped lift the market, outweighing declines in financial, real estate and other sectors.

Bond yields ended mixed. The yield on the 10-year Treasury fell to 2.99% from 3.08% late Monday.

Treasury yields have been rising and stocks have been extremely volatile recently as Wall Street adjusts to an aggressive turnaround in the Federal Reserve’s policies away from supporting the economy. The central bank is raising interest rates from historic lows to fight persistently rising inflation, which is at its highest levels in four decades.

The Fed has raised its benchmark rate from close to zero, where it sat for much of the coronavirus pandemic. Last week, it indicated it will double the size of future increases.

Higher prices on raw materials, shipping and labor have been cutting into corporate financial results and forecasts. Many companies have been raising prices on everything from clothing to food, raising concerns that consumers will eventually cut spending, which would hurt economic growth.

Russia’s ongoing invasion of Ukraine has only increased worries about rising inflation. The conflict pushed already high oil and natural gas prices even higher, while putting more pressure on costs for key food commodities like wheat and corn. U.S. crude oil prices fell 3.2% on Tuesday, but are up about 36% in 2022. Wheat prices are up more than 40% for the year.

Should Wednesday’s consumer price index show a pullback in inflation versus a year ago, that could put investors in a buying mood, at least for a little while.

“In the very short term we’re a bit oversold,” said Frederick. “So, if we could get a print below 8% year-over-year, I think we could get a little bit of a market rally.

Still, most of the market’s recent rallies have often been followed by a down day, he added.

Meanwhile, investors are also still reviewing the latest round of corporate earnings with mixed results. Peloton tumbled 8.7% as the former pandemic darling of investors reported results that were much weaker than Wall Street was expecting. Food distributor Sysco rose 6.1% after beating analysts’ forecasts.

Migraine treatment developer Biohaven Pharmaceutical surged 68.4% after Pfizer said it will buy the company for $11.6 billion. Pfizer already owns a portion of the company.

ASX 200 expected to edge lower​The Australian share market looks set for a subdued day on Wednesday following a mixed night in the US. According to the latest SPI futures, the ASX 200 is expected to open the day 7 points or 0.1% lower this morning. 

Stock indexes on Wall Street ended a choppy day of trading with a mixed finish Tuesday, after an afternoon rally in technology companies helped reverse an early slide.

The S&P 500 closed 0.2% higher, snapping a three-day losing streak, after swinging between a gain of 1.9% and a loss of 0.8%. A day earlier, the benchmark index slumped 3.2%, hitting its lowest level in more than a year.

The Dow Jones Industrial Average slipped 0.3%, while the tech-heavy Nasdaq climbed about 1%.


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## bigdog

Asian shares track technology-led sell-off on Wall Street
					

Shares fell in Asia on Thursday after the release of worse inflation data than expected sparked heavy selling of technology stocks on Wall Street.  Hong Kong’s benchmark dipped 1.5% in early trading following the arrests of several prominent democracy advocates , including a retired Roman...




					apnews.com
				




Tech sector leads stocks lower as inflation remains high​By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Stocks fell on Wall Street Wednesday, led by more drops in technology companies, after a report on inflation came in worse than feared.

An early rally faded, leaving the S&P 500 1.6% lower after waffling between gains and losses in morning trading. The slide wiped out gains from a day before, when the benchmark index snapped a three-day losing streak.

The Dow Jones Industrial Average dropped 1% and the Nasdaq fell 3.2% as tech stocks weighed down the broader market. The three major indexes are each on pace for another sharp weekly loss.

Wall Street has been transfixed on the nation’s high inflation, and where it’s heading, because it’s causing the Federal Reserve to yank the supports it propped under markets for most of the pandemic. The Fed has flipped aggressively toward raising interest rates after seeing high inflation last longer than it expected.

Wednesday’s report from the U.S. Labor Department showed inflation slowed a touch in April, down to 8.3% from 8.5% in March. Investors also found some glass-half-full signals in the data that inflation may be peaking and set to ease further.

Nevertheless, the numbers were still higher than economists forecast. They also showed a bigger increase than expected in prices outside food and gasoline, something economists call “core inflation” and which can be more predictive of future trends.

“Core inflation came in hot, and that’s what really matters to the Fed at this point,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments.

Economists said the inflation report will keep the Fed on track for rapid and potentially sharp increases in interest rates in upcoming months, though the data led to erratic trading on Wall Street.

Treasury yields initially jumped but pared their gains as the morning progressed. The 10-year Treasury yield climbed as high as 3.08% but fell back to 2.92% in later trading, below its late-Tuesday level of 2.99%. The two-year yield, which moves more on expectations for Fed action, rose to 2.64% from 2.62% late Tuesday. It had climbed as high as 2.75% shortly after the report’s release.

As yields briefly regressed, most stocks reversed their early losses, but the gains didn’t hold.

“In the past week, any kind of gains have really struggled to stick,” said Ross Mayfield, investment strategy analyst at Baird. “It’s just a seller’s market right now.”

The S&P 500 fell 65.87 points to 3,935.18, while the Nasdaq slid 373.44 points to 11,364.24. Both indexes posted five straight weekly losses heading into this week.

The Dow dropped 326.63 points to 31,834.11. The blue-chip index has racked up six straight weekly losses.

Smaller company stocks also lost ground. The Russell 2000 fell 43.65 points, or 2.5%, to 1,718.14.

To corral high inflation, the Fed has already pulled its key short-term interest rate off its record low near zero, where it spent most of the pandemic. It also said it may continue to hike rates by double the usual amount at upcoming meetings. Such moves by design would slow the economy, in hopes of quashing inflation.

The Fed risks causing a recession if it raises rates too high or too quickly. Even if it’s deft enough to avoid a downturn, higher rates push down on prices for stocks and all kinds of investments in the meantime. That’s because higher-yielding, safe Treasury bonds suddenly become a stronger competitor for investors’ dollars.

“The market’s main concern at this point is inflation and how the Fed reacts to it,” said David Lefkowitz, head of equities for the Americas at UBS Global Wealth Management. “In order for markets to get more comfortable with a soft landing, they are going to be focused on any of the inflation data and also any clues about how the Fed thinks about that inflation data.”

Higher rates are most hurting the investments that were the biggest winners of the ultra-low rates of the pandemic. That includes big technology companies, other high-growth stocks and even cryptocurrencies. The Nasdaq’s loss of more than 27% so far this year is considerably worse than the roughly 17% drop for the S&P 500, for example.

Coinbase, a crypto trading platform, tumbled 26.4% after it reported much weaker results for the latest quarter than analysts expected. Drops in crypto prices dragged on trading volumes through the quarter.

Several other companies made big moves following the release of their latest earnings results. Hamburger chain Wendy’s fell 10.8% after reporting disappointing profits. Callaway Golf jumped 10.2% and H&R Block surged 19.5% after reporting encouraging financial results.

It’s not just interest rates that are pushing markets lower. In China, shutdowns meant to stem COVID are raising the risk of more supply chain disruptions for global companies and a slowdown in the world’s second-largest economy.

The war in Ukraine, meanwhile, is threatening to keep inflation high because of disruptions to the oil and natural gas markets.

Crude jumped again on Wednesday, with a barrel of benchmark U.S. oil rising 6% to settle at $105.71. Brent crude, the international standard, added 4.9% to settle at $107.51.

That helped energy stocks in the S&P 500 climb 1.4%, the biggest gain among the 11 sectors that make up the index. Exxon Mobil rose 2.1%, while ConocoPhillips gained 1.1%.

ASX 200 expected to sink​The Australian share market looks set to resume its decline on Thursday after higher than expected inflation in the United States spooked Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 54 points or 0.8% lower this morning. 

On Wall Street, stocks fell on Wall Street Wednesday, led by more drops in technology companies, after a report on inflation came in worse than feared.

An early rally faded, leaving the S&P 500 1.6% lower after waffling between gains and losses in morning trading. The slide wiped out gains from a day before, when the benchmark index snapped a three-day losing streak.

The Dow Jones Industrial Average dropped 1% and the Nasdaq fell 3.2% as tech stocks weighed down the broader market. The three major indexes are each on pace for another sharp weekly loss.


----------



## bigdog

Asian shares bounce back, shrugging off inflation concerns
					

Asian shares bounced back Friday from losses earlier in the week, shrugging off data showing U.S. wholesale prices soared 11% in April from a year earlier.  The regional rally followed a mixed and muted close on Wall Street.




					apnews.com
				




US stocks end mixed after another day of erratic trading​By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Another erratic day of trading on Wall Street ended with an uneven finish for the major stock indexes Thursday, after the market reversed most of an early slide in the final hour of trading.

The S&P 500 closed only 0.1% lower after having been down 1.9% earlier in the day. The Dow Jones Industrial Average fell 0.3%, while the Nasdaq rose 0.1%.

Trading on Wall Street has been volatile, with indexes prone to sharp swings from one day to the next, or within a single day, as investors try to shield their portfolios from the impact of the highest inflation in decades and rising interest rates as the Federal Reserve moves to tame surging prices.

Another dire readout on inflation sparked a wave of selling early Thursday, with technology stocks weighing down the S&P 500 index the most. The sector made solid gains during the pandemic amid a broad shift to working and shopping from home, but it has seen sharp declines as inflation worsens and interest rates head higher. Apple and chipmaker Nvidia each fell 2.7%, while Microsoft dropped 2%.

“The pullback in growth stocks, tech in particular, has been dramatic,” said Brian Price, head of investment management at Commonwealth Financial Network. “We have a reckoning, if you will, that maybe we did go too far too fast” with many of those stocks.

The S&P 500 fell 5.10 points to 3,930.08. The Dow dropped 103.81 points to 31,730.30. The Nasdaq rose 6.73 points to 11,370.96. The indexes are all on pace for sharp weekly declines, extending the market’s slump so far this year. The benchmark S&P 500 is now down 17.5% this year, while the Nasdaq is down 27.3%.

Smaller company stocks held up far better than the rest of the market. The Russell 2000 rose 21.24 points, or 1.2%, to 1,739.38.

The yield on the 10-year Treasury fell to 2.87% from 2.92%.

The Labor Department on Thursday reported that wholesale prices soared 11% in April from a year earlier. Many of the costs at the wholesale level are being passed on to consumers as companies try to cover higher expenses. That has raised more concerns about a potential pullback in spending that could crimp economic growth.

Inflation pressure has been building for consumers. On Wednesday, the Labor Department’s report on consumer prices came in hotter than Wall Street expected. It also also showed a bigger increase than expected in prices outside food and gasoline, something economists call “core inflation” and which can be more predictive of future trends.

Rising inflation has prompted the Federal Reserve to pull its benchmark short-term interest rate off its record low near zero, where it spent most of the pandemic. It also said it may continue to raise rates by double the usual amount at upcoming meetings. Investors are concerned that the central bank could cause a recession if it raises rates too high or too quickly.






Inflation has been worsened by Russia’s invasion of Ukraine and the conflicts impact on rising energy prices. China’s recent lockdowns amid concerns about a COVID-19 resurgence have also worsened supply chain and production problems at the center of rising inflation.

The impact of higher prices for consumers has been global. On Thursday, Britain said its economy  grew at the slowest pace in a year during the first quarter. That is raising fears that the country may be headed for a recession.

The latest round of corporate earnings are also being closely watched by investors as they assess how companies and industries are handling the pressure from inflation. Entertainment giant Disney fell 0.9% after missing analysts’ forecasts in its latest earnings report. Coach and Kate Spade owner Tapestry jumped 15.5% for the biggest gain in the S&P 500 after reporting strong financial results.






“We’ll continue to pay attention to what the Fed has to say, but it’s worthwhile to pay attention to company outlooks on earnings calls,” Price said. “That’s something that investors will focus more and more on as we go into the second half of the year, how durable are company earnings.”

Health care companies and retailers were among the market’s gainers Thursday. Pfizer rose 2.8% and Home Depot gained 2.4%.

Bitcoin got caught up in the selling. The digital currency was down 2.9% to $28,551 in late afternoon trading late, according to CoinDesk. Only six months ago it was over $66,000.

“Bitcoin is still vulnerable to one last plunge that could coincide with a stock market selloff, before many crypto investors feel the bottom is in place,” Edward Moya, senior market analyst at OANDA, wrote in a research note Thursday.

ASX 200 expected to edge higher​ The Australian share market looks set to end the week in a subdued fashion following a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 9 points or 0.1% higher this morning. 

In the US,  another erratic day of trading on Wall Street ended with an uneven finish for the major stock indexes Thursday, after the market reversed most of an early slide in the final hour of trading.

The S&P 500 closed only 0.1% lower after having been down 1.9% earlier in the day. The Dow Jones Industrial Average fell 0.3%, while the Nasdaq rose 0.1%.

Trading on Wall Street has been volatile, with indexes prone to sharp swings from one day to the next, or within a single day, as investors try to shield their portfolios from the impact of the highest inflation in decades and rising interest rates as the Federal Reserve moves to tame surging prices.


----------



## bigdog

Stocks rally, but still mark their 6th straight losing week
					

NEW YORK (AP) — Wall Street closed out another volatile week of trading with a broad rally Friday, though it wasn't nearly enough to keep the market from its sixth straight weekly drop, the longest such streak since 2011.




					apnews.com
				




Stocks rally, but still mark their 6th straight losing week​By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Wall Street closed out another volatile week of trading with a broad rally Friday, though it wasn’t nearly enough to keep the market from its sixth straight weekly drop, the longest such streak since 2011.

The S&P 500 climbed 2.4%. More than 90% of the companies in the benchmark index closed higher. The Nasdaq rose 3.8% as more gains in technology companies helped lift the tech-heavy index. The Dow Jones Industrial Average rose 1.5%.

The upbeat finish still left the indexes with weekly losses of more than 2.4% each, extending the string of weekly declines to six weeks for the S&P 500 and Nasdaq, while the Dow registered its seventh straight weekly drop.

Markets have been slumping since late March as traders worry that the Federal Reserve may not succeed in its delicate mission of slowing the economy enough to rein in the highest inflation in four decades without causing a recession.

While there have been sudden rallies along the way, including a 2.5% gain for the S&P 500 in late April and a 3% gain in early May, the market has continued to lose ground since setting an all-time high at the start of the year.

That’s not an unusual pattern on Wall Street when indexes are close to entering a bear market, or a decline of 20% or more from their most recent peak. The closest the S&P 500 has gotten to a bear market this year was Thursday, when it ended 18.1% below the peak it reached in January.

“If you look back at how bear markets unfold, they don’t go down every day, all day, all at once until the finish, they have pretty good rallies,” said Tom Martin, senior portfolio manager with Globalt Investments. “This might be one of those big rallies that takes you back up somewhat before the market turns back down again.”

The S&P 500 rose 93.81 points to 4,023.89. The index is now down 15.6% for the year. The Dow gained 466.36 points to 32,196.66, while the Nasdaq rose 434.04 points to 11,805.

Smaller company stocks also staged a solid rally. The Russell 2000 gained 53.28 points, or 3.1%, to 1,792.67.

Twitter fell 9.7% after Tesla CEO Elon Musk said he was putting his deal to acquire the social media company on hold. Tesla rose 5.7%.

Businesses have been struggling to keep up with increased demand for a wide range of products and goods amid supply chain and production problems. They’ve been raising prices on everything from food to clothing, which has been putting pressure on consumers and raising concerns about a pullback in spending and slower economic growth.

The Fed is attempting to temper the impact from rising inflation by pulling its benchmark short-term interest rate off its record low near zero, where it spent most of the pandemic. It also said it may continue to raise rates by double the usual amount at upcoming meetings. Investors are concerned that the central bank could cause a recession if it raises rates too high or too quickly.

The Labor Department issued reports this week that confirmed persistently high consumer prices and wholesale prices that affect businesses.

“There’s a lot of issues and rising inflation with a tightening Fed is not the greatest of market conditions, but at some point it’s priced in,” said Jay Hatfield, CEO of Infrastructure Capital Advisors.

Meanwhile, China’s decision to lock down major cities amid worries about a COVID-19 resurgence have further strained supply chains and Russia’s invasion of Ukraine raised already high energy and food costs globally.

Technology stocks led the gains Friday. Apple rose 3.2% and Microsoft rose 2.3%. The sector has been behind much of the broader market’s volatility throughout the week and has been slipping overall as investors prepare for higher interest rates, which tend to weigh most heavily on the priciest stocks.

Retailers and communications companies also made solid gains. Amazon jumped 5.7% and Google’s parent rose 2.8%.

Bond yields rose significantly. The yield on the 10-year Treasury rose to 2.93% from 2.82% late Thursday.

The price of U.S. crude oil rose 4.1% to settle at $110.49 per barrel. It’s up about 50% for the year.

Investors have also been focusing on the latest round of corporate earnings to gain more insight into how inflation is impacting businesses and consumers. Several major retailers will report their results next week, including Walmart, Target and Home Depot.

Bitcoin steadied around $30,000 late Friday after dropping  to around $25,420 earlier this week, its lowest level since December 2020, according to CoinDesk. Only six months ago it was over $66,000.


----------



## bigdog

ASX 200 expected to rise again​
The Australian share market looks set to start the week strongly following a great night on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 54 points or 0.8% higher this morning. 

On Wall Street closed out another volatile week of trading with a broad rally Friday, though it wasn’t nearly enough to keep the market from its sixth straight weekly drop, the longest such streak since 2011.

The S&P 500 climbed 2.4%. More than 90% of the companies in the benchmark index closed higher. The Nasdaq rose 3.8% as more gains in technology companies helped lift the tech-heavy index. The Dow Jones Industrial Average rose 1.5%.


----------



## bigdog

Asian shares advance despite losses on Wall Street
					

Shares advanced in Asia on Tuesday after another wobbly day on Wall Street extended a losing streak for markets.  Hong Kong advanced nearly 2.5% and other regional benchmarks were moderately higher.




					apnews.com
				




Stocks end mostly lower, extending losing streak for S&P 500​By DAMIAN J. TROISE

NEW YORK (AP) — Stocks closed a wobbly day of trading mostly lower on Wall Street Monday, extending a losing streak for markets.

The broader market is in the midst of a slump as investors try to gauge how companies and consumers are dealing with higher prices and whether central banks can help ease the problem. Major indexes have been slipping since early April.

“Time is the most important factor here,” said Mark Hackett, chief of investment research at Nationwide. “Right now sentiment and emotion is winning but eventually the reality of a fundamentally good backdrop will take over.”

Corporate earnings have been mostly good, he said, and consumer spending is holding up in the face of inflation pressure. But, the market will likely remain volatile and could experience more losses until some of the worries over inflation lessen.

The S&P 500 fell 15.88 points, or 0.4%, to 4,008.01. The benchmark index is coming off a six-week losing streak. The Dow Jones Industrial Average eked out a gain, rising 26.76 points, or 0.1%, to 32,223.42.

The tech-heavy Nasdaq had a sharp drop. It fell 142.21 points, or 1.2%, to 11,662.79.

Technology stocks were among the biggest losers after pushing and pulling the market throughout the day. Apple fell 1.1%. Big tech companies, with their pricey values, tend to push the broader market both up or down. The sector has been a particularly heavy weight as investors worry about high inflation and rising interest rates.

Retailers also had some of the biggest losses. Amazon slipped 2% and Starbucks fell 4.2%.

Energy stocks and health care companies gained ground. Chevron rose 3.1% and Eli Lilly rose 2.7%.

Bond yields fell. The yield on the 10-year Treasury fell to 2.89% from 2.94% late Friday.

Spirit Airlines rose 13.5% after JetBlue said it would make a hostile offer for the budget carrier after Spirit rebuffed its earlier bids.

Defense contractor ManTech jumped 15% after investment firm Carlyle Group said it will buy the defense contractor.

The Federal Reserve is in the process of pulling its benchmark short-term interest rate off its record low near zero, where it spent most of the pandemic. It also said it may continue to raise rates by double the usual amount at upcoming meetings. Investors are concerned that the central bank could cause a recession if it raises rates too high or too quickly.

Lingering supply chain problems continue to feed inflation, and China’s recent COVID-19 lockdowns  have raised concerns that they may worsen. Russia’s war against Ukraine has made already high energy prices even more volatile, which could also draw out rising inflation.

U.S. crude oil prices rose 3.4% Monday and are up more than 50% for the year. Natural gas prices rose 3.8% and have more than doubled in 2022.

Wall Street is closely watching how consumers react to pressure from inflation and will get several updates from the U.S. government and key retailers this week. The Commerce Department on Tuesday will release its retail sales report for April.

Home Depot and Walmart will report their latest financial results on Tuesday and Target will report its results on Wednesday.

ASX 200 expected to edge higher​ The Australian share market looks set to edge higher again on Tuesday despite a poor start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 24 points or 0.35% higher. 

On Wall Street, stocks closed a wobbly day of trading mostly lower on Wall Street Monday, extending a losing streak for markets.  

The S&P 500 fell 15.88 points, or 0.4%, to 4,008.01. The benchmark index is coming off a six-week losing streak. The Dow Jones Industrial Average eked out a gain, rising 26.76 points, or 0.1%, to 32,223.42.

The tech-heavy Nasdaq had a sharp drop. It fell 142.21 points, or 1.2%, to 11,662.79.


----------



## bigdog

Asia stocks mixed after Wall St gain, Powell warns on rates
					

BEIJING (AP) — Asian stock markets were mixed Wednesday after Wall Street rose and the Federal Reserve's chairman said it will raise interest rates further if needed to cool inflation. Shanghai and Hong Kong declined.




					apnews.com
				




Markets shake off doldrums as traders get back to buying​By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Stocks bounced back after a lackluster start to the week with a broad rally Tuesday as traders got back to buying again after a mostly miserable few weeks on Wall Street.

The S&P 500 rose 2%, with more than 90% of the companies in the benchmark index notching gains. The Dow Jones Industrial Average rose 1.3% and the Nasdaq gained 2.8%.

Big tech stocks led the rally, with Apple and Microsoft among the biggest winners. Small-company stocks rose more than the rest of the market, a signal that investors are feeling bullish about the economy. Treasury yields rose.

Investors welcomed an encouraging report on retail sales and reviewed mixed batch of earnings updates from several big retailers. The solid rebound for stocks comes as the broader market struggles to break a six-week long slump that has been interrupted at times by sharp rallies.

“All three indices are down double digits for the year, so we can’t get super excited about this,” said Sylvia Jablonski, chief investment officer at Defiance ETFs. “But I think it’s a good day, and good news, particularly on the consumer, brings investors into the market.”

The S&P 500 rose 80.84 points to 4,088.85. The Dow gained 431.17 points to 32,654.59. The Nasdaq added 321.73 points to 11,984.52. The Russell 2000 index of smaller companies climbed 56.87 points, or 3.2%, to 1,840.30.

The highly volatile technology accounted for a big slice of the S&P 500′s gains. Apple rose 2.5% and Microsoft rose 2%. Pricey stock values for many big technology companies give the sector more weight in pushing the broader market up and down.

Health care companies also helped lift the market. Abbott Laboratories rose 4.4% after the company made a deal with regulators to ramp up production of baby formula amid a shortage.

Banks gained ground along with rising bond yields, which they rely on to charge more lucrative interest on loans. The yield on the 10-year Treasury rose to 2.99% from 2.88% late Monday. JPMorgan Chase rose 3.3%.

Paramount soared 15.3% after Warren Buffett’s Berkshire Hathaway disclosed a new stake in the media company.

The Commerce Department said U.S. retail sales rose 0.9% in April. The solid increase was driven by higher sales of cars, electronics, and at more spending at restaurants. The upbeat report helps allay some concerns on Wall Street about persistently high inflation crimping consumer spending and about the possibility that the economy could slip into a recession.

“The retail sales report really gave a boost of confidence to investors that consumers are doing well,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. “As long as consumers stay strong the chance of us going into a recession in 2022 are very low.”

Inflation is at a four-decade high, driven by demand for goods outpacing supplies in the aftermath of the pandemic. Supply chain problems have prompted businesses to raise prices on everything from food to clothing. Rising energy prices following Russia’s invasion of Ukraine  worsened pressure from inflation, as did China’s strict lockdown measures over the last month as it faces a resurgence of COVID-19 cases in major cities.

Walmart, the nation’s largest retailer, fell 11.4%, its biggest percentage decline since 1987, after reporting disappointing earnings and trimming its profit forecast for the year, partly because of inflation pressures.

Several other retailers also lost ground. Target fell 1.4% and Bath & Body Works slid 2.9%. Supermarket operator Kroger fell 3.7%.

Central banks have been shifting policies to help fight inflation. The Federal Reserve is gradually pushing its benchmark short-term interest rate off its record low near zero, where it spent most of the pandemic. Investors are concerned that the central bank could cause a recession if it raises rates too high or too quickly and are watching for comments by Fed officials that might provide insight into the U.S. economic outlook and future policy moves

ASX 200 expected to storm higher​ The Australian share market looks set for a very strong day on Wednesday following a stellar night in the US. According to the latest SPI futures, the ASX 200 is expected to open the day 67 points or 0.95% higher this morning. 

On Wall Street, stocks bounced back after a lackluster start to the week with a broad rally Tuesday as traders got back to buying again after a mostly miserable few weeks on Wall Street.

The S&P 500 rose 2%, with more than 90% of the companies in the benchmark index notching gains. The Dow Jones Industrial Average rose 1.3% and the Nasdaq gained 2.8%.

The S&P 500 rose 80.84 points to 4,088.85. The Dow gained 431.17 points to 32,654.59. The Nasdaq added 321.73 points to 11,984.52. The Russell 2000 index of smaller companies climbed 56.87 points, or 3.2%, to 1,840.30.


----------



## bigdog

Asian shares track Wall Street's inflation-fueled retreat
					

TOKYO (AP) — Shares dropped sharply in Asia on Thursday after a broad retreat on Wall Street triggered by dismal results from major retailer Target that renewed worries over the impact of high inflation.




					apnews.com
				




Stocks fall sharply as Target’s woes renew inflation fears​By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — The Dow Jones Industrial Average sank more than 1,100 points and the S&P 500 had its biggest drop in nearly two years Wednesday, as big earnings misses by Target and other major retailers stoked investors’ fears that surging inflation could cut deeply into corporate profits.

The broad sell-off erased gains from a solid rally a day earlier, the latest volatile day-to-day swing for stocks in recent weeks amid a deepening market slump.

The S&P 500 tumbled 4%, its sharpest decline since June 2020. The benchmark index is now down more than 18% from the record high it reached at the beginning of the year. That’s shy of the 20% decline that’s considered a bear market.

The Dow dropped 3.6%, while the Nasdaq fell 4.7%. The three indexes are on pace to extend a string of at least six weekly losses.

“A lot of people are trying to guess the bottom,” said Sam Stovall, chief investment strategist at CFRA. “Bottoms occur when there’s nobody left to sell.”

The S&P 500 fell 165.17 points to 3,923.68, while the Dow slid 1,164.52 points to 31,490.07. The Nasdaq slid 566.37 points to 11,418.15.

Smaller company stocks also fell sharply. The Russell 2000 fell 65.45 points, or 3.6%, to 1,774.85.

Retailers were among the biggest decliners Wednesday after Target plunged following a grim quarterly earnings report.

Target lost a quarter of its value after reporting earnings that fell far short of analysts’ forecasts. In a sign of the impact of inflation, particularly on shipping costs, Target said its operating margin for the first quarter was 5.3%. It had been expecting 8% or higher. The company also said consumers returned to more normal spending habits, switching away from TVs and appliances and buying more toys and travel-related items.

The report comes a day after Walmart said its profit took a hit from higher costs. The nation’s largest retailer fell 6.8%, adding to its losses from Tuesday.

The weak reports stoked concerns that persistently rising inflation is putting a tighter squeeze on a wide range of businesses and could cut deeper into their profits.

“These retailers are having to balance how much of the higher inflation to pass on to consumers versus eating it, so that goes into questions about profitability on the part of companies and that gets to some of these lingering valuation questions for the market,” said Willie Delwiche, investment strategist at All Star Charts.

Other big retailers also racked up hefty losses. Dollar Tree fell 14.4% and Dollar General slid 11.1%. Best Buy fell 10.5% and Amazon fell 7.2%.

Technology stocks, which led the market rally a day earlier, were the biggest drag on the S&P 500. Apple lost 5.6%, its biggest decline since September 2020.

All told, more than 95% of stocks in the S&P 500 closed lower. Utilities fell, though not nearly as much as the other 10 sectors, as investors shifted money to investments that are considered less risky.

Bond yields fell as investors shifted money into lower-risk investments. The yield on the 10-year Treasury fell to 2.88% from 2.97% late Tuesday.

The disappointing report from Target comes a day after the market cheered an encouraging report from the Commerce Department that showed retail sales rose in April, driven by higher sales of cars, electronics, and more spending at restaurants.

Stocks have been struggling to pull out of a slump over the last six weeks as concerns pile up for investors. Trading has been choppy on a daily basis and any data on retailers and consumers is being closely monitored by investors as they try to determine the impact from inflation and whether it will prompt a slowdown in spending. A bigger-than-expected hit to spending could signal more sluggish economic growth ahead.

“To be sure, consumers continue to spend, but many of the top retailers are unable to pass along the higher labor costs and higher prices wrought by a still constrained supply chain,” said Quincy Krosby, chief equity strategist for LPL Financial.

Target warned that its costs for freight this year would be $1 billion higher than it estimated just three months ago. And Target and Walmart each provided anecdotal evidence that inflation is weighing on consumers, saying they held back on purchasing big-ticket items and changed from national brands to less expensive store brands.

The Federal Reserve is trying to temper the impact from the highest inflation in four decades by raising interest rates. On Tuesday, Fed Chair Jerome Powell told a Wall Street Journal conference that the U.S. central bank will “have to consider moving more aggressively” if inflation fails to ease after earlier rate hikes.

Investors are concerned that the central bank could cause a recession if it raises rates too high or too quickly. Worries persist about global growth as Russia’s invasion of Ukraine puts even more pressure on prices for oil and food while lockdowns in China to stem COVID-19 cases worsens supply chain problems.

The United Nations is significantly lowering its forecast for global economic growth this year from 4% to 3.1%. The downgrade is broad-based, which includes the world’s largest economies such as the U.S., China and the European Union.

ASX 200 expected to sink​The Australian share market looks set to sink on Thursday following a major selloff on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 135 points or 1.9% lower this morning. 

On Wall Street, the Dow Jones Industrial Average sank more than 1,100 points and the S&P 500 had its biggest drop in nearly two years Wednesday, as big earnings misses by Target and other major retailers stoked investors’ fears that surging inflation could cut deeply into corporate profits.

The S&P 500 tumbled 4%, its sharpest decline since June 2020. The benchmark index is now down more than 18% from the record high it reached at the beginning of the year. That’s shy of the 20% decline that’s considered a bear market.

The Dow dropped 3.6%, while the Nasdaq fell 4.7%. The three indexes are on pace to extend a string of at least six weekly losses.

The S&P 500 fell 165.17 points to 3,923.68, while the Dow slid 1,164.52 points to 31,490.07. The Nasdaq slid 566.37 points to 11,418.15.

Smaller company stocks also fell sharply. The Russell 2000 fell 65.45 points, or 3.6%, to 1,774.85.


----------



## bigdog

Asian stocks rise after Wall St slips closer to bear market
					

BEIJING (AP) — Asian stock markets rose Friday after Wall Street fell closer to bear territory, China cut a key interest rate and Japanese inflation edged higher. Market benchmarks in Shanghai, Tokyo, Hong Kong and Sydney advanced.




					apnews.com
				




Stocks end lower, nearing but not quite in a bear market​By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Another volatile day on Wall Street ended with more losses for stocks Thursday, drawing the S&P 500 closer to its first bear market since the beginning of the pandemic.

The index, a benchmark for many funds, fell 0.6% after easing off a deeper stumble. The latest decline came a day after the S&P 500 had its biggest drop in nearly two years. It’s now down 18.7% from the record high it set early this year and is nearly at the 20% threshold that defines a bear market.

The Dow Jones Industrial Average fell 0.8% and the Nasdaq slipped 0.3%.

The indexes have remained mired in a deep slump as investors worry that the soaring inflation that’s hurting people shopping for groceries and filling their cars up is also walloping profits at U.S. companies. Target fell again, a day after losing a quarter of its value on a surprisingly large drop in earnings.

The latest pullback is further indication “that the market is trying to find direction,” said Lindsey Bell, chief markets and money strategist at Ally Invest. “There’s just still a significant amount of uncertainty, especially in regard to what the (Federal Reserve) is going to do, how that’s going to impact growth in the future, and additionally, where the heck is inflation going from here.”

The S&P 500 fell 22.89 points to 3,900.79. The Dow dropped 236.94 points to 31,253.13. The Nasdaq slid 29.66 points to 11,388.50. The three indexes are on pace to extend a string of at least six weekly losses.

Smaller company stocks held up better than the broader market. The Russell 2000 rose 1.38 points, or 0.1%, to 1,776.22.

Rising interest rates, high inflation, the war in Ukraine and a slowdown in China’s economy have caused investors to reconsider the prices they’re willing to pay for a wide range of stocks, from high-flying tech companies to traditional automakers. Investors have been worried that the soaring inflation that’s hurting people shopping for groceries and filling their cars up is also walloping company profits.

Target fell another 5.1% a day after losing a quarter of its value on a surprisingly weak profit report.

Wall Street is also worried about the Federal Reserve’s plan to fight the highest inflation in four decades. The Fed is raising interest rates aggressively and investors are concerned that the central bank could cause a recession if it raises rates too high or too quickly.

The 10-year Treasury pulled back to 2.85% from 2.88% late Wednesday, but it has been generally rising as investors prepare for a market with higher interest rates. That has also pushed up mortgage rates, which is contributing to a slowdown in home sales.

The pile of concerns on Wall Street has made for very choppy trading and big swings between gains and losses within any given day.

Technology stocks have been some of the most volatile holdings. The sector includes heavyweights like Apple that have lofty valuations, which tend to push the market more forcefully up or down. The sector has been hit especially hard by the Fed’s policy shift to raise interest rates. Low rates help support investments considered more risky, like tech stocks, and higher rates lessen the incentive to take that risk.

Technology stocks fell Thursday, accounting for a big share of the S&P 500′s drop. Cisco Systems slumped 13.7% after the seller of routers and switches cut its profit forecast amid supply chain constraints. Synopsis jumped 10.3% after the software company raised its financial forecasts for the year.

Household goods companies, grocery store operators and food producers fell broadly. General Mills fell 2.1% and Clorox fell 5.3%.

Retailers and other companies that rely on direct consumer spending mostly rose. Amazon added 0.2% and Expedia climbed 5.3%. Bath & Body Works slid 6.8% after cutting its profit forecast for the year.

With the S&P 500 closing moderately lower, the index is now closer to falling into a bear market. The last bear market happened just two years ago, following the onset of the virus pandemic.

Why use a bear to denote a market slump? Bears hibernate, so they represent a market that’s retreating, said Sam Stovall, chief investment strategist at CFRA. In contrast, Wall Street’s nickname for a surging stock market is a bull market, because bulls charge.

ASX 200 expected to fall​ The Australian share market looks set to end the week in the red following another poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 9 points or 0.1% lower this morning. 

In the US, another volatile day on Wall Street ended with more losses for stocks Thursday, drawing the S&P 500 closer to its first bear market since the beginning of the pandemic.

The index, a benchmark for many funds, fell 0.6% after easing off a deeper stumble. The latest decline came a day after the S&P 500 had its biggest drop in nearly two years. It’s now down 18.7% from the record high it set early this year and is nearly at the 20% threshold that defines a bear market.

The Dow Jones Industrial Average fell 0.8% and the Nasdaq slipped 0.3%.

The S&P 500 fell 22.89 points to 3,900.79. The Dow dropped 236.94 points to 31,253.13. The Nasdaq slid 29.66 points to 11,388.50. The three indexes are on pace to extend a string of at least six weekly losses.


----------



## bigdog

Final-hour rally yanks Wall Street from maw of bear market
					

NEW YORK (AP) — Wall Street rumbled to the edge of a bear market  Friday after another drop for stocks briefly sent the S&P 500 more than 20% below its peak set early this year.




					apnews.com
				




Final-hour rally yanks Wall Street from maw of bear market​By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — Wall Street rumbled to the edge of a bear market Friday after another drop for stocks briefly sent the S&P 500 more than 20% below its peak set early this year.

The S&P 500 index, which sits at the heart of most workers’ 401(k) accounts, was down as much as 2.3% for the day before a furious comeback in the final hour of trading sent it to a tiny gain of less than 0.1%. It finished 18.7% below its record, set on Jan. 3. The tumultuous trading capped a seventh straight losing week, its longest such streak since the dot-com bubble was deflating in 2001.

Rising interest rates, high inflation, the war in Ukraine, and a slowdown in China’s economy are all punishing stocks and raising fears about a possible U.S. recession. Compounding worries is how the superhero that’s flown to Wall Street’s rescue in the most recent downturns, the Federal Reserve, looks less likely to help as it’s stuck battling the worst inflation in decades.

The S&P 500 finished the day up 0.57 points at 3,901.36. The Dow Jones Industrial Average swung from an early loss of 617 points to close 8.77 higher, or less than 0.1%, at 31,261.90. The Nasdaq composite trimmed a big loss to finish 33.88 points lower, or 0.3%, at 11,354.62.

Because the S&P 500 did not finish the day more than 20% below its record, the company in charge of the index says a bear market has not officially begun. Of course, the 20% threshold is an arbitrary number.

“Whether or not the S&P 500 closes in a bear market does not matter too much,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments. “A lot of pain has already been experienced.”

Many big tech stocks, seen as some of the most vulnerable to rising interest rates, have already fallen much more than 20% this year. That includes a 37.2% tumble for Tesla and a 69.1% nosedive for Netflix.

It’s a sharp turnaround from the powerful run Wall Street enjoyed after emerging from its last bear market in early 2020, at the start of the pandemic. Through it, the S&P 500 more than doubled, as a new generation of investors met seemingly every wobble with the rallying cry to “Buy the dip!”

“I think plenty of investors were scratching their heads and wondering why the market was rallying despite the pandemic,” Jacobsen said. “Now that the pandemic has hopefully mostly passed, I think a lot of investors are kicking themselves for not having gotten out on signs that the economy was probably slowing and the Fed was making its policy pivot.”

With inflation at its highest level in four decades, the Fed has aggressively turned away from keeping interest rates super-low in order to support markets and the economy. Instead it’s raising rates and making other moves in hopes of slowing the economy enough to tamp down inflation. The worry is if it goes too far or too quickly.

“Certainly the market volatility has all been driven by investor concerns that Fed will tighten policy too much and put the U.S. into a recession,” said Michael Arone, chief investment strategist at State Street Global Advisors.

Bond yields fell as recession worries pushed investors into Treasurys and other things seen as safer. The yield on the 10-year Treasury note, which helps set mortgage rates, fell to 2.78% from 2.85% late Thursday. Goldman Sachs economists recently put the probabilty of a U.S. recession in the next two years at 35%.

Inflation has been painfully high for months. But the market’s worries swung higher after Russia’s invasion of Ukraine sent prices spiraling further at grocery stores and gasoline pumps, because the region is a major source of energy and grains. The world’s second-largest economy, meanwhile, has taken a hit as Chinese officials locked down key cities in hopes of halting COVID-19 cases. That’s all compounded with some disappointing data on the U.S. economy, though the job market remains hot.

Adding pressure onto stocks have been signs that corporate profits are slowing and may finally be getting hurt by inflation. That means the pain has widened beyond tech and high-growth stocks to encompass more of Wall Street.

Retail giants Target and Walmart both had warnings this week about inflation cutting into finances. Discount retailer Ross Stores sank 22.5% on Friday after cutting its profit forecast and citing rising inflation as a factor.

“The latest earnings from retail companies finally signaled that U.S. consumers and businesses are being negatively impacted by inflation,” Arone said.

Although its source is different, the gloom on Wall Street is mirroring a sense of exasperation across the country. A poll from The Associated Press-NORC Center for Public Research released Friday found that only about 2 in 10 adults say the U.S. is heading in the right direction or the economy is good, both down from about 3 in 10 a month earlier.

Much of Wall Street’s bull market since early 2020 was the result of buying by regular investors, many of whom started trading for the first time during the pandemic. Alongside many cryptocurrencies, they helped drive darlings like Tesla’s stock higher. They even got GameStop to surge suddenly to such a high level that it sent shudders through professional Wall Street.

But these traders, called “retail investors” by Wall Street to differentiate them from big institutional investors, have been pulling back as stocks have tumbled. Individual investors have turned from a net buyer of stocks to a net seller over the last six months, according to a recent report from Goldman Sachs.


----------



## bigdog

ASX 200 expected to fall​ The Australian share market looks set to start the week in the red following a mixed night on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 15 points or 0.2% lower this morning. 

On Wall Street,  the S&P 500 finished the day up 0.57 points at 3,901.36. The Dow Jones Industrial Average swung from an early loss of 617 points to close 8.77 higher, or less than 0.1%, at 31,261.90. The Nasdaq composite trimmed a big loss to finish 33.88 points lower, or 0.3%, at 11,354.62.

Because the S&P 500 did not finish the day more than 20% below its record, the company in charge of the index says a bear market has not officially begun. Of course, the 20% threshold is an arbitrary number.


----------



## bigdog

Asian shares mostly lower as inflation worries cloud outlook
					

TOKYO (AP) — Asian shares were mostly lower on Tuesday as worries over inflation tempered optimism over President Joe Biden’s remark that he was considering reducing U.S. tariffs on Chinese imports.




					apnews.com
				




Wall Street ends higher following 7 straight weeks of losses​By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Stocks closed broadly higher Monday, an upbeat start to the week on Wall Street after seven weeks of declines that nearly ended the bull market that began in March 2020.

The S&P 500 rose 1.9%, with technology and financial sector stocks doing much of the heavy lifting for the benchmark index. The Dow Industrial Average rose 2% and the Nasdaq climbed 1.6%.

The recent heavy selling on the market has primed traders to snap up big tech stocks and shares in other companies that had been high flyers before the market’s punishing skid, said Quincy Krosby, chief equity strategist for LPL Financial.

“What we’re seeing today is traders and investors coming in and taking advantage of the lower (price) levels,” she said. “This is the tug-of-war in the market between those saying the market has become attractively valued, versus those who are saying ‘not really,’ because it’s not factoring in much slower growth.”

The S&P 500 gained 72.39 points to 3,973.75. The Dow added 618.34 points to 31,880.24, and the tech-heavy Nasdaq picked up 180.66 points to 11,535.27.

Smaller company stocks also staged a rally. The Russell 2000 rose 19.50 points, or 1.1%, to 1,792.76.

Lingering concerns about inflation have been weighing on the market and have kept major indexes in a slump. The benchmark S&P 500 is coming off its longest weekly losing streak since the dot-com bubble was deflating in 2001. It came close to falling 20% from its peak earlier this year, which would put the index at the heart of most workers’ 401(k) accounts into a bear market.

Inflation’s impact on consumers and businesses has been the key worry for markets, along with the Federal Reserve’s attempt to temper that impact by aggressively raising interest rates. Inflation brought on by a big supply and demand disconnect has worsened because of Russia’s invasion of Ukraine and its impact on energy prices. Supply chains were further hurt by China’s recent series of lockdowns for several major cities facing rising COVID-19 cases.

Meanwhile, a series of disappointing earnings reports from key retailers last week raised concerns that consumers are tempering spending on a wide range of goods as they get squeezed by rising inflation.

Investors are worried that the central bank could go too far in raising rates or move too quickly, which could stunt economic growth and potentially bring on a recession. On Wednesday, investors will get a more detailed glimpse into the Fed’s decision-making process with the release of minutes from the latest policy setting meeting.

Wall Street will also get a few economic updates this week from the Commerce Department. On Thursday it will release a report on first-quarter gross domestic product and on Friday it will release data on personal income and spending for April.

Banks made strong gains along with rising bond yields Monday, which they rely on to charge more lucrative interest on loans. The yield on the 10-year Treasury rose to 2.86% from 2.77% late Friday. Bank of America rose 5.9%.

Technology stocks also did some heavy lifting. Apple rose 4% and Microsoft rose 3.2%. The sector has been choppy over the last few weeks and has prompted many of the market’s recent big swings.

VMware surged 24.8% following a report that chipmaker Broadcom is offering to buy the cloud-computing company. JPMorgan Chase jumped 6.2% after giving investors an encouraging update on its financial forecasts.

ASX 200 expected to rise​The Australian share market looks set to push higher again on Tuesday following a strong start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 14 points or 0.2% higher. 

On Wall Street, stocks closed broadly higher Monday, an upbeat start to the week on Wall Street after seven weeks of declines that nearly ended the bull market that began in March 2020.

The S&P 500 rose 1.9%, with technology and financial sector stocks doing much of the heavy lifting for the benchmark index. The Dow Industrial Average rose 2% and the Nasdaq climbed 1.6%.

The S&P 500 gained 72.39 points to 3,973.75. The Dow added 618.34 points to 31,880.24, and the tech-heavy Nasdaq picked up 180.66 points to 11,535.27.


----------



## bigdog

Slumping technology stocks pull Wall Street lower
					

NEW YORK (AP) — Stocks fell in morning trading on Wall Street Tuesday, weighed down by a big decline in tech heavyweights over concerns about persistently rising inflation's impact to their bottom lines.




					apnews.com
				




Slumping technology stocks pull Wall Street lower​By DAMIAN J. TROISE

NEW YORK (AP) — Stocks fell in morning trading on Wall Street Tuesday, weighed down by a big decline in tech heavyweights over concerns about persistently rising inflation’s impact to their bottom lines.

The S&P 500 index fell 2.1% as of 10:14 a.m. Eastern. The Dow Jones Industrial Average fell 351 points, or 1.1%, to 31,524 and the Nasdaq fell 3.6%.

A stark profit warning from Snapchat’s parent company spooked investors into dumping the stocks of major social media companies. Snap plummeted 39%, while Facebook’s parent, Meta, slumped 10%. Google’s parent fell 8%.

Technology and communications stocks, with their lofty values, tend to have an outsize influence on the market. The sectors have been responsible for much of the volatility the market has seen recenlty as well as a the broad decline the market’s major indexes have seen since early April as investors worry about the impact of rising inflation on businesses and consumers.

Retailers and companies that rely on direct consumer spending also fell sharply. Amazon shed 4.3% and Target fell 3.9%.

Bond yields fell. The yield on the 10-year Treasury fell to 2.75% from 2.86% late Monday.

Falling bond yields weighed on banks, which rely on higher yields to charge more lucrative interest on loans. Citigroup fell 1.9%

Household goods companies and utilities, which are considered less risky than other sectors, made gains.

The pile of concerns weighing on the market has pushed the benchmark S&P 500 to the brink of a bear market, which is when an index falls 20% from its most recent record high. It is down roughly 19% from its record high set earlier this year.

Inflation has been weighing on a wide range of industries in the form of higher raw materials costs and more costly labor. Many businesses have been raising prices on everything from food to clothing to offset the impact of higher costs, but the pressure has been increasing. Key retailers, including Target and Walmart have said that higher costs are squeezing operations. They also raised concerns that consumers are tempering spending on a wide range of goods.

Consumers were already getting squeezed by a supply and demand disconnect when Russia invaded Ukraine and prompted another jump in energy prices, including gasoline. The pain at the pump has cut into spending for many. Supply chain problems were worsened by China’s recent lockdown in several major cities as it deals with rising COVID-19 cases.

Wall Street is also worried about the Federal Reserve’s plan to fight inflation. The central bank is raising interest rates aggressively from historic lows, but investors are concerned that it could go too far in raising rates or move too quickly. That could slow down businesses and potentially bring on a recession. On Wednesday, investors will get a more detailed glimpse into the Fed’s decision-making process with the release of minutes from the latest policy meeting.

ASX 200 expected to rise​The Australian share market looks set to push higher on Wednesday despite a poor night of trade in the US. According to the latest SPI futures, the ASX 200 is expected to open the day 11 points or 0.15% higher this morning. 

On Wall Street, stocks fell in morning trading on Wall Street Tuesday, weighed down by a big decline in tech heavyweights over concerns about persistently rising inflation’s impact to their bottom lines.

The Dow Jones rose 0.15%, the S&P 500 fell 0.8%, and the Nasdaq tumbled 2.35%.


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## Dona Ferentes

I do like a good headline

Wall Street’s Crackle Popped by Snap​

https://www.sharecafe.com.au/2022/05/25/wall-streets-crackle-popped-by-snap/


----------



## bigdog

Asian stocks mixed after Fed confirms rate hike plans
					

BEIJING (AP) — Asian stock markets were mixed Thursday after notes from the Federal Reserve's latest meeting confirmed expectations for more interest rate hikes but contained no surprises to rattle investors.




					apnews.com
				




Stocks climb as Fed minutes show determination on rates​By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Stocks ended broadly higher on Wall Street Wednesday after minutes from the Federal Reserve’s most recent meeting signaled the central bank intends to move “expeditiously” to raise interest rates back to more neutral levels in its fight to tame inflation.

The S&P 500 rose 0.9%, while the Dow Jones Industrial Average rose 0.6%. The Nasdaq climbed 1.5%. The indexes, which recovered after being in the red in the early going, are on pace for a weekly gain, despite more up-and-down trading this week.

The minutes from the Fed meeting earlier this month show most of the officials agreed that half-point increases to the Fed’s benchmark short-term rate “would likely be appropriate” at the central bank’s next two meetings, in June and July. Such an increase would be double the usual hike.

The central bank has begun raising interest rates in a bid to stamp out the highest inflation in four decades, so traders are keen to gain fresh insight into Fed officials’ thinking. Still, the Fed minutes didn’t reveal any major surprises.

“The market’s showing a relatively muted reaction to what was already embedded in the public sphere,” said Bill Northey, senior investment director at U.S. Bank Wealth Management.

The S&P 500 rose 37.25 points to 3,978.73. The Dow gained 191.66 points to 32,120.28. The Nasdaq rose 170.29 points to 11,434.74.

Small-company stocks rose far more than the rest of the market, a sign of bullishness on the economy. The Russell 2000 gained 34.34 points, or 2%, to 1,799.16.

The yield on the 10-year Treasury, which helps set mortgage rates, slipped to 2.75% from 2.76% late Tuesday.

The broader market remains volatile with investors on edge because of rising inflation and its impact on businesses and consumers. Investors are also concerned about the Fed’s aggressive plan to raise interest rates to fight inflation and hope the Fed won’t act so aggressively to slow the economy as to cause a recession.

Russia’s invasion of Ukraine in February added even more pressure to already rising energy costs, making inflation worse for both businesses and consumers. Supply chains became even tighter over the last month as China locked down several major cities to fight rising cases of COVID-19.

“The overarching theme, especially for the past few weeks, is that investors are increasingly cautious on growth and the economic outlook,” said Jason Draho, head of asset allocation for the Americas at UBS Global Wealth Management. “It’s one of the big reasons why you’re seeing the inability for the stock market to get any kind of momentum.”

At the May 3-4 meeting, the Fed raised its key interest rate by a half-percentage point, its most aggressive move since 2000. It also signaled further large rate hikes to come. To tame inflation, the Fed wants to cool spending and economic growth by making it more expensive for individuals and businesses to borrow.

The minutes revealed that many of the policymakers agreed that after a rapid series of rate increases in the coming months, they could “assess the effects” of their rate hikes and, depending on the economy’s health, adjust their policies.

The economy has showed more signs of showing, and financial markets have dropped sharply, since the Fed meeting.

The S&P 500 gained ground on Monday, but slipped again on Tuesday, dragged down by more losses in the technology sector. The S&P 500 is coming off of a seven-week losing streak that came close to ending the bull market for stocks that began in March 2020.

Retailers had some of the strongest gains after getting beaten down in recent days over concerns that soaring inflation was eating into their profits. Some of those concerns dissipated after the high-end department store operator Nordstrom reported higher sales and raised its profit forecast. It’s stock jumped 14%.

Technology stocks also helped lift the market. Microsoft rose 1.1%.

Several companies made strong gains after reporting solid financial results and giving investors strong forecasts, despite grappling with persistently rising inflation.

TurboTax software maker Intuit rose 8.2% after raising its profit and revenue forecasts for the year. Caleres, the owner of Famous Footwear, surged 29.9% after also raising its profit forecasts for the year.

Homebuilder Toll Brothers rose 8% after reporting strong profits just a day after that sector stumbled amid a disappointing government report on newly built home sales.

Wendy’s jumped 9.8% after Trian Fund Management, which already owns 19% of the company, said it was considering buying the rest of the company.

European markets were higher and Asian markets closed mostly higher.

ASX 200 expected to rise​ The Australian share market looks set to rise on Thursday following a positive night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 11 points or 0.15% higher this morning. 

On Wall Street,  stocks ended broadly higher on Wall Street Wednesday after minutes from the Federal Reserve’s most recent meeting signaled the central bank intends to move “expeditiously” to raise interest rates back to more neutral levels in its fight to tame inflation.

The S&P 500 rose 0.9%, while the Dow Jones Industrial Average rose 0.6%. The Nasdaq climbed 1.5%. The indexes, which recovered after being in the red in the early going, are on pace for a weekly gain, despite more up-and-down trading this week.

The S&P 500 rose 37.25 points to 3,978.73. The Dow gained 191.66 points to 32,120.28. The Nasdaq rose 170.29 points to 11,434.74.


----------



## bigdog

Asian shares' rise broadly cheered by US earnings, rally
					

TOKYO (AP) — Asian shares gained Friday as investors cheered a strong set of earnings from retailers that has sent U.S. shares higher.  Benchmarks were rising in early trading across the region, including Japan, China, Australia and South Korea.




					apnews.com
				




Better results from retailers help send stock market higher​By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Stocks closed broadly higher on Wall Street Thursday as investors cheered a strong set of quarterly results from Macy’s and other retailers.

The S&P 500 rose 2% and is on pace for its first weekly gain after seven straight losses, its longest such stretch since 2001.

The Dow Jones Industrial Average rose 1.6% and the Nasdaq gained 2.7%. Smaller company stocks also made strong gains, a sign of bullishness on the economy.

Bond yields rose. The yield on the 10-year Treasury, which helps set interest rates on mortgages, rose to 2.75% from 2.74% late Wednesday.

Roughly 90% of the stocks in the S&P 500 rose, with technology companies, banks and retailers driving much of the rally. While trading has remained choppy this week, the market has mostly pushed higher, unlike the past five weeks, when the S&P 500 had a pullback of 2% or more at least one day each week.

“It’s nice to see a couple days in the green, and this might actually end up being the first week when we don’t have a humongous down day,” said Liz Young, head of investment strategy at SoFi. “But I wouldn’t declare premature victory and assume we’re in the clear.”

The S&P 500 rose 79.11 points to 4,057.84. The Dow added 516.91 points to 32,637.19, and the Nasdaq rose 305.91 points to 11,740.65.

The Russell 2000 index of smaller companies climbed 39.07 points, or 2.2%, to 1,838.24.

Retailers led the broader market higher Thursday. Macy’s surged 19.3% after it raised its profit forecast for the year following a strong first-quarter financial report. Dollar General vaulted 13.7% and Dollar Tree jumped 21.9% for the biggest gain in the S&P 500 after the discount retailers reported solid earnings and gave investors encouraging forecasts.

The retail sector is being closely watched by investors looking for more details on just how much pain inflation is inflicting on companies and consumers. Weak reports from the several big companies last week, including Target and Walmart, spooked an already volatile market.

“We’re not convinced that we’re completely out of the woods here,” said Philip Orlando, chief equity market strategist at Federated Hermes. “There were a lot of negative reports last week and what those companies have talked about is what is going on through the economy.”

Inflation is at a four-decade high and businesses have been raising costs on everything from food to clothing to offset higher costs. The impact from Russia’s invasion of Ukraine worsened inflation pressures by fueling higher energy and key food commodity costs. Supply chain problems worsened in the wake of China’s lockdown for several major cities as it tried to contain COVID-19 cases.

Consumers have been resilient about spending, but the pressure from inflation remains persistent and could be prompting a pullback or shift in spending from more expensive things to necessities.

The broad gains on Thursday follow a late push for markets on Wednesday prompted by details from the Federal Reserve’s latest meeting, which confirmed expectations of more interest rate hikes.

Investors have been uneasy over the impact of higher interest rates in the United States and other Western economies that are meant to cool surging inflation. The key concern is whether the Fed can temper inflation without crimping economic growth to the point that the U.S. falls into a recession.

“The Fed’s got to be really aggressive here and job number one is to stuff the inflation genie back in the bottle and I don’t believe the market has fully priced that in,” Orlando said.

Technology stocks also rose. TurboTax maker Intuit rose 4.6%. Companies in the sector, with their lofty stock values, tend to push the market harder up or down.

Airline stocks rallied on encouraging summer travel forecasts. Southwest Airlines rose 6% and JetBlue rose 3.4%.

U.S. crude oil prices rose 3.4% and are up more than 55% for the year.

ASX 200 expected to jump​ The Australian share market looks set to end the week on a positive note following a solid night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 69 points or 1% higher this morning.

In the US, stocks closed broadly higher on Wall Street Thursday as investors cheered a strong set of quarterly results from Macy’s and other retailers.

The S&P 500 rose 2% and is on pace for its first weekly gain after seven straight losses, its longest such stretch since 2001.

The Dow Jones Industrial Average rose 1.6% and the Nasdaq gained 2.7%. Smaller company stocks also made strong gains, a sign of bullishness on the economy.


----------



## bigdog

Wall Street breaks 7-week losing streak, longest since 2001
					

NEW YORK (AP) — Technology companies led a broad rally for stocks Friday as Wall Street notched its best week in 18 months. The gain broke a seven-week losing streak for the market, the longest such stretch since 2001.




					apnews.com
				




Wall Street breaks 7-week losing streak, longest since 2001​By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Technology companies led a broad rally for stocks Friday as Wall Street notched its best week in 18 months. The gain broke a seven-week losing streak for the market, the longest such stretch since 2001.

The S&P 500 rose 2.5% and finished 6.6% higher for the week, its best weekly gain since November 2020. The Dow Jones Industrial Average rose 1.8% and the tech-heavy Nasdaq gained 3.3%.

The strong finish for the week came as investors received potentially encouraging news about inflation. The Commerce Department said that inflation rose 6.3% in April from a year earlier, the first slowdown since November 2020 and a sign that high prices may finally be moderating, at least for now.

The report was released as Wall Street looks for any signal that inflation could be easing, while trying to figure out just how low stocks might sink.

“At this point that’s all the market needs,” said Ross Mayfield, investment strategy analyst at Baird. “It’s definitely one of the signs you would want to see.”

The S&P 500 ended 100.40 points higher at 4,158.24. The Nasdaq rose 390.48 points to 12,131.13. It was the third straight gain for both indexes. The Dow rose 575.77 points to 33,212.96, its sixth-straight gain.

Smaller company stocks also gained ground. The Russell 2000 rose 49.66 points, or 2.7%, to 1,887.90.

The broader market has been in a slump for nearly two months as concerns about inflation and rising interest rates pile up. Investors were spooked last week by disappointing reports from key retailers, including Walmart and Target, which stoked fears about rising inflation hitting profit margins and crimping consumer spending.

Trading remained choppy throughout the week, though the market mostly pushed higher, as retailers including Macy’s and Dollar General released encouraging earnings reports and financial updates.

Retailers were among the biggest gainers Friday as investors continued reviewing the latest round of earnings to get a better sense of just how much pain rising inflation is inflicting on businesses and consumers. Beauty products company Ulta Beauty surged 12.5% for the biggest gain in the S&P 500 after raising its profit forecast for the year. Amazon rose 3.7%.

Disappointing financial updates and earnings weighed on several companies. Clothing retailer American Eagle fell 6.6% after reported weak first-quarter earnings.

Inflation is at a four-decade high and has been persistently squeezing businesses. Higher costs prompted companies to raise prices on everything from food to clothing to protect their margins and consumers remained resilient. Russia’s invasion of Ukraine worsened the inflation picture by pushing global energy and food prices even higher.

U.S. crude oil prices were relatively stable, but are up nearly 60% in 2022. Wheat prices are up about 50% and corn prices are up 30% this year.

Supply chain problems at the heart of rising inflation were worsened in the wake of China’s lockdown for several major cities.

The extra inflation squeeze has made it even more difficult for businesses to offset costs and is seemingly prompting a shift in consumer spending away from expensive items and toward necessities. It has also raised concerns that the Federal Reserve may have an even more difficult time trying to temper the impact from inflation.

The Fed is aggressively raising interest rates to fight inflation, but investors are worried that it could potentially push the economy into a recession if it moves too aggressively.

The yield on the 10-year Treasury, which helps set mortgage rates, slipped to 2.74% from 2.75% late Thursday.


----------



## bigdog

*The NYSE will be Closed on Monday, May 30 For Memorial Day holiday*

The Australian share market looks set to start the week with a strong gain following a very positive night on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 83 points or 1.15% higher this morning.

Technology companies led a broad rally for stocks Friday as Wall Street notched its best week in 18 months. The gain broke a seven-week losing streak for the market, the longest such stretch since 2001.

The S&P 500 rose 2.5% and finished 6.6% higher for the week, its best weekly gain since November 2020. The Dow Jones Industrial Average rose 1.8% and the tech-heavy Nasdaq gained 3.3%.


----------



## bigdog

*The USA NYSE was Closed on Monday, May 30 For Memorial Day holiday*









						Global stocks rise after Wall St breaks string of declines
					

BEIJING (AP) — Global stocks and U.S. futures rose Monday after Wall Street rebounded  from a seven-week string of declines and China eased anti-virus curbs on business activity in Shanghai and Beijing.




					apnews.com
				




Global stocks rise after Wall St breaks string of declines​By JOE McDONALD

BEIJING (AP) — Global stocks and U.S. futures rose Monday after Wall Street rebounded from a seven-week string of declines and China eased anti-virus curbs on business activity in Shanghai and Beijing.

London and Frankfurt opened higher. Shanghai, Tokyo and Hong Kong advanced. Oil stayed above $110 per barrel.

The future for Wall Street’s S&P 500 index was 0.9% higher after the benchmark on Friday ended up 6.6% for the week after surging inflation declined. U.S. markets are closed Monday for a holiday.

“Markets rallied into the long weekend, providing a positive tone at the start of this week,” ING economists said in a report.

In early trading, the FTSE 100 in London gained 0.4% to 7,613.78 and the DAX in Frankfurt advanced 0.7% to 14,564.68. The CAC 40 in Paris rose 0.8% to 6,565.13.

On Wall Street, the Dow Jones Industrial Average future was up 0.7%.

On Friday, the S&P gained 2.5%, propelled by gains for tech companies.

Investors were relieved after Commerce Department data showed U.S. inflation, which has prompted the Federal Reserve to raise interest rates, decelerated to 6.3% over a year earlier in April, its first decline in 17 months.

Markets are worried about whether the Fed can control inflation that is running at a four-decade high without tipping the biggest global economy into recession.

The U.S. market has been in a slump for the past two months over fears about interest rate hikes that might slow economic activity, and the impact of Russia’s war on Ukraine and a Chinese economic slowdown.

Crude oil prices are up nearly 60% this year due to fears about disruptions in supplies from Russia, the second-biggest global exporter. Wheat prices are up about 50% and corn prices are up 30%.

The Dow rose 1.8% and the Nasdaq, dominated by tech stocks, gained 3.3%.

In Asia, the Shanghai Composite Index rose 0.6% to 3,149.06 after more factories and shops in Beijing and Shanghai were allowed to reopen.

The Nikkei 225 in Tokyo surged 2.2% to 27,369.43 and the Hang Seng in Hong Kong gained 2.1% to 21,123.93. The Kospi in South Korea advanced 1.2% to 2,669.66.

Sydney’s S&P-ASX 200 was 1.4% higher at 7,286.60.

India’s Sensex added 1.8% to 55,856.06. New Zealand and Southeast Asia markets gained.

More factories, shops and other businesses are allowed to reopen this week in Shanghai and in the Chinese capital, Beijing, after authorities declared outbreaks under control. The Shanghai city government promised rent and tax cuts, faster approvals for construction projects and more subsidies for electric car purchases.

In energy markets, benchmark U.S. crude rose 44 cents to $115.53 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the price basis for international oils, advanced 48 cents to $116.04 per barrel in London.

The dollar edged up to 127.34 yen from Friday’s 127.10 yen. The euro rose to $1.0766 from $1.0733.


*The NYSE was Closed on Monday, May 30 For Memorial Day holiday*





*Rest of World on Monday*









ASX 200 expected to edge lower​ The Australian share market looks to have run out of steam and is expected to edge lower on Tuesday. According to the latest SPI futures, the ASX 200 is poised to open the day 8 points or 0.1% lower. 

Wall Street was closed for a public holiday, but European markets charged higher on news that China is relaxing its COVID restrictions.


----------



## bigdog

Asian shares mixed after stocks retreat on Wall Street
					

Shares were mixed in Asia on Wednesday after a wobbly day on Wall Street closed out a month buffeted by worries about a possible recession, inflation and rising interest rates.  Tokyo's Nikkei 225 advanced 0.7% to 27,472.49.




					apnews.com
				




Stocks slip on Wall Street as messy May comes to a close​By STAN CHOE and ALEX VEIGA

NEW YORK (AP) — Stocks closed lower Tuesday and the market eked out a tiny gain for May, a fitting end to a tumultuous month as worries about a possible recession, inflation and rising interest rates bruised Wall Street.

The S&P 500 fell 0.6%, having recouped about half of its loss from earlier in the day. The Dow Jones Industrial Average fell 0.7%, while the Nasdaq composite slid 0.4%. Both also pared some of their losses after falling at least 1.4%.

Such swings should perhaps be no surprise given Wall Street’s action this month, amid some of the wildest trading since the early days of the pandemic. The S&P 500 finished the month with a gain of less than 0.1%, which followed an 8.8% slump in April. The index is now 13.9% below its record set early this year. But the slight move for the month belies sharp lurches down and up that shook investors along the way.

Through mid-May, the S&P 500 tumbled to seven straight losing weeks for its longest such streak since the dot-com bubble was deflating two decades ago. Slowing data on the U.S. economy heightened worries that high inflation will force the Federal Reserve to raise interest rates so aggressively that it will cause a recession.

Some high-profile retailers also said inflation is eating into their profits, adding more urgency to the concerns. They all combined to bring Wall Street to the brink of what’s called a bear market, where the S&P 500 was on the verge of closing more than 20% below its record.

“Outside of a peace agreement in Ukraine, it’s difficult to construct a case for more than a bear market rally,” which would be just a temporary turn higher for stocks, Morgan Stanley strategists led by Michael Wilson wrote in a report. They said that the more stock prices rise, the more likely the Federal Reserve will be to hike interest rates.

The S&P 500 fell 26.09 points to 4,132.15, while the Dow lost 222.84 points at 32,990.12. The Nasdaq dropped 49.74 points to 12,081.39.

Smaller company stocks feel more than the broader market. The Russell 2000 slid 23.85 points, or 1.3%, to 1,864.04.

Trading has been turbulent in recent weeks amid worries about a possible recession, inflation and rising interest rates.

Highlighting the worries about inflation, oil prices briefly rose Tuesday after the European Union agreed to block the majority of oil imports from Russia because of its invasion of Ukraine. Benchmark U.S. crude ended up falling 0.3% to settle at $114.67 per barrel. Brent crude, the international standard, rose 1% to settle at $122.84 per barrel.

The jump of more than 50% for oil prices so far this year has been a big contributor to the very high inflation sweeping the world. Earlier Tuesday, a report showed inflation in the 19 countries that use the euro currency hit 8.1% in May, the highest level since records began in 1997.

In the U.S., President Joe Biden met with Federal Reserve Chairman Jerome Powell as soaring inflation continues to carve up Americans’ earnings.

The meeting, marked the first since Biden renominated Powell to lead the central bank and weeks after the Senate confirmed a second term.

“My plan to address inflation starts with simple proposition: Respect the Fed, respect the Fed’s independence,” Biden said.

Stocks have managed to avoid a full-blown bear market, at least so far, with the S&P 500 yet to close more than 20% below its record. The S&P 500 is coming off its best week in a year and a half, in part on hopes that inflation may have hit its peak and will begin moderating. Speculation has grown that the Fed may consider a pause in rate hikes at its September meeting.

Relaxing anti-COVID restrictions in China have also helped, easing some of the worries about the world’s second-largest economy and about more snarls to global supply chains.

China’s factory activity contracted again in May, but it’s almost back to growing. More factories, shops and other businesses are being allowed to reopen this week in Shanghai and in the Chinese capital, Beijing, after authorities declared outbreaks under control.

Stocks in Shanghai and Hong Kong rose more than 1%.

On Wall Street, health care, technology and energy stocks were among the biggest drags on the market. UnitedHealth Group fell 2%, Adobe dropped 2.7% and Chevron slid 2%.

Some areas of the stock market that have been particularly hard hit this year also climbed, including internet-related stocks. Amazon rose 4.4%, and the Class A shares of Google’s parent company gained 1.1%.

U.S. Treasury yields rose following reports showing confidence among U.S. consumers was higher than economists expected and home prices rose more than forecast.

The yield on the 10-year Treasury climbed to 2.85% from 2.75% late Friday.

Starting on Wednesday, the Fed will begin allowing some of the trillions of dollars’ worth of Treasurys and other bonds that it amassed through the pandemic to roll off its balance sheet. Such a move should put upward pressure on longer-term Treasury yields, and it’s one of the ways the Fed is trying to stamp out inflation by slowing the economy.

ASX 200 expected to fall again​ The Australian share market looks set to extend its losses on Wednesday following a poor night of trade in the US. According to the latest SPI futures, the ASX 200 is expected to open the day 34 points or 0.5% lower this morning. 

On Wall Street, stocks closed lower Tuesday and the market eked out a tiny gain for May, a fitting end to a tumultuous month as worries about a possible recession, inflation and rising interest rates bruised Wall Street.

The S&P 500 fell 0.6%, having recouped about half of its loss from earlier in the day. The Dow Jones Industrial Average fell 0.7%, while the Nasdaq composite slid 0.4%. Both also pared some of their losses after falling at least 1.4%.

The S&P 500 fell 26.09 points to 4,132.15, while the Dow lost 222.84 points at 32,990.12. The Nasdaq dropped 49.74 points to 12,081.39


----------



## bigdog

https://www.usnews.com/news/business/articles/2022-06-01/asian-shares-mixed-after-stocks-retreat-on-wall-street
		


Stocks Slide as Strong Economic Data Raises Rate Worries​
By STAN CHOE and ALEX VEIGA, AP Business Writers

A swift jump in Treasury yields rattled Wall Street Wednesday, weighing down stock indexes at the start of another month in what’s been a turbulent year.

The S&P 500 ended 0.7% lower after an early morning gain quickly gave way to choppy trading. The Dow Jones Industrial Average slid 0.5% and the Nasdaq fell 0.7%.

Stocks began their slide immediately after the release of several reports on the U.S. economy, including one showing manufacturing growth was stronger last month than expected. That bolstered investors' expectations for the Federal Reserve to continue raising interest rates aggressively to slow the economy in hopes of reining in inflation.

“Investors are worried about the Fed meeting coming up, and because inflation is expected to remain stubbornly elevated the Fed probably won’t get away with front-end loading the rate tightening cycle and then pausing in the fall,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 fell 30.92 points to 4,101.23. The Dow gave up 176.89 points to 32,813.23, after losing an early gain of 282 points. The Nasdaq composite slid 86.93 points to 11,994.46. It also ended in the red after giving up an early 1.3% gain.  

Smaller company stocks also lost ground. The Russell 2000 index dropped 9.22 points, or 0.5%, to 1,854.82.

Daily market swings have become routine on Wall Street amid worries that too-aggressive rate hikes by the Fed may force the economy into a recession. Even if it can avoid choking off the economy, higher rates put downward pressure on stocks and other investments regardless. High inflation is meanwhile eating into corporate profits, while the war in Ukraine and business-slowing, anti-COVID-19 restrictions in China have also weighed on markets.

The Fed has signaled it may continue raising its key short-term interest rate by double the usual amount at upcoming meetings in June and July. Speculation built last week that the Fed may consider a pause at its September meeting, which helped stocks to rise. But such hopes diminished after Wednesday's manufacturing report from the Institute for Supply Management.

It showed U.S. manufacturing growth accelerated last month, contrary to economists’ expectations for a slowdown. A separate report said that the number of job openings across the economy ticked a bit lower in April but remains much higher, at 11.4 million, than the number of unemployed people.

Following the reports, traders are now betting on a 60% probability that the Fed will raise its benchmark short-term rate to a range of 2.25% to 2.50% at its September meeting. A week ago, the majority of bets was on a lower level, at a range of 2% to 2.25%, according to CME Group.

The yield on the two-year Treasury, which tends to follow expectations for Fed moves, jumped with those expectations. It rose to 2.66%, up from 2.56% just before the manufacturing report’s release.

Wednesday also marks the start of the Fed’s program to pare back some of the trillions of dollars of Treasurys and other bonds that it amassed through the pandemic. Such a move should put upward pressure on longer-term rates.

The 10-year Treasury yield rose to 2.92% from 2.84% just before the report’s release.

Airlines and stocks of other travel-related companies were some of Wednesday's biggest losers on Wall Street amid worries that inflation is slicing away their earnings.

Delta Air Lines, for example, said it expects to see fuel costs of $3.60 to $3.70 per gallon this quarter, up from its prior forecast of up to $3.35. Even outside of fuel, Delta said expenses could soar up to 22% above 2019 levels on a per-seat basis. That’s up from an earlier forecast of 17%,
Delta’s stock fell 5.2% even though it also said revenue trends are strengthening. With passengers paying higher fares, Delta said it may get a key revenue measure fully back to 2019 levels.

Norwegian Cruise Line and United Airlines each lost 4.5%.

On the winning side were energy stocks, which rose with the price of crude oil. ConocoPhillips gained 3%, and Exxon Mobil rose 1.9% as a barrel of benchmark U.S. crude rose 0.5% to settle at $115.26. Brent crude, the international standard, added 0.6% to $116.29.

The biggest gain in the S&P 500 came from Salesforce.com, which reported stronger profit for the latest quarter than analysts expected and raised its forecast for the year. Its stock rose 9.9%.

ASX 200 expected to fall​ The Australian share market looks set to fall on Thursday following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 56 points or 0.8% lower this morning. 

On Wall Street, the S&P 500 ended 0.7% lower after an early morning gain quickly gave way to choppy trading. The Dow Jones Industrial Average slid 0.5% and the Nasdaq fell 0.7%.

The S&P 500 fell 30.92 points to 4,101.23. The Dow gave up 176.89 points to 32,813.23, after losing an early gain of 282 points. The Nasdaq composite slid 86.93 points to 11,994.46. It also ended in the red after giving up an early 1.3% gain

Stocks began their slide immediately after the release of several reports on the U.S. economy, including one showing manufacturing growth was stronger last month than expected. That bolstered investors' expectations for the Federal Reserve to continue raising interest rates aggressively to slow the economy in hopes of reining in inflation.


----------



## bigdog

https://www.usnews.com/news/business/articles/2022-06-02/asia-shares-slide-across-board-amid-rate-hike-covid-worries
		


Stocks Shake off a Wobbly Start on Wall Street, End Higher​The stock market shook off a wobbly start and ended broadly higher Thursday, marking its first gain in this holiday-shortened week.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers
NEW YORK (AP) — Stocks on Wall Street overcame a shaky start to close broadly higher Thursday, as the major indexes more than made up for their losses earlier in the holiday-shortened week.

The S&P 500 rose 1.8%, with more than 85% of the stocks in the benchmark index notching gains. The Dow Jones Industrial Average rose 1.3%, while the Nasdaq climbed 2.7%.

Technology stocks accounted fore a big share of the gains as Microsoft erased an early loss. Bond yields eased.
Trading has been choppy in recent days as investors remain worried about inflation and the interest rate increases the Federal Reserve is using to fight it. Thursday's market rally may have been spurred, in part, by a report showing private sector hiring that came in well below economists' forecasts.

“The private payroll report was pretty weak," said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management. “It’s maybe one of those environments where people are looking for weak data that gives them some hope that the Fed will pause (rate hikes) in September.”

The S&P 500 rose 75.59 points to 4,176.82. The index has risen 7.1% since coming to the edge of a bear market two weeks ago.

The Dow added 435.05 points to 33,248.28, while the Nasdaq gained 322.44 points at 12,316.90.

Rising energy prices have been feeding inflation, which is already at its highest levels in four decades. U.S. gasoline prices hit another record high Thursday, with the average price at the pump costing $4.71 per gallon, according to motoring club federation AAA.
Investors remain focused on the balance between inflation, rising interest rates and economic growth. The Federal Reserve is being closely watched as it tries to temper the impact from inflation by raising interest rates from historic lows during the pandemic.

Several economic reports on Wednesday bolstered expectations for the Fed to keep raising interest rates aggressively. Wall Street is concerned that the Fed could slow economic growth too much and potentially send the economy into a recession.

But on Thursday, payroll processor ADP reported that hiring by private U.S. companies rose just 128,000 in May. That's well below the 302,000 hires economists expected, according to FactSet.

Wall Street will get another glimpse into the health of the broader economy on Friday when the Labor Department releases its employment report for May. The jobs market had initially been slow to recover from the impact of the virus pandemic, but has bounced back strongly with low unemployment and plentiful job postings.

Meanwhile high inflation is eating into corporate profits, while the war in Ukraine and COVID-19 restrictions in China have also weighed on markets.

Technology stocks, whose lofty values tend to give the broader market a harder push higher or lower, accounted for a big share of the rally Thursday. Chipmaker Nvidia jumped 6.9% and software maker Adobe rose 5.5%.

Communications stocks, companies that rely on direct consumer spending and some big industrial firms gained ground. Facebook parent Meta Platforms rose 5.4%, Expedia Group added 6.3% and Boeing climbed 7.5%.

Small company stocks rose, signaling confidence about economic growth. The Russell 2000 gained 42.85 points, or 2.3%, to 1,897.67.
Bond yields were relatively stable. The yield on the 10-year Treasury, which helps set interest rates on mortgages and other loans, fell to 2.91% from 2.93% from late Wednesday.

Energy stocks fell. Chevron slipped 0.2%.

Investors continue monitoring corporate earnings and financial updates. Microsoft rose 0.8%, recovering from an early slide, after cutting its financial forecasts for the current quarter. The software pioneer cited unfavorable changes in exchange rates. Online pet store Chewy surged 24.2% after reporting strong earnings.

ASX 200 expected to jump​The Australian share market looks set to end the week on a positive following a strong night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 80 points or 1.1% higher this morning. 

In the US, the stock market shook off a wobbly start and ended broadly higher Thursday, marking its first gain in this holiday-shortened week.

The S&P 500 rose 1.8%, with more than 85% of the stocks in the benchmark index notching gains. The Dow Jones Industrial Average rose 1.3%, while the Nasdaq climbed 2.7%.


----------



## bigdog

Stocks sink as Wall Street eyes downside of solid jobs data
					

NEW YORK (AP) — U.S. stocks fell broadly Friday and pulled major indexes into the red for the week as Wall Street focused on the downside of the still-strong U.S. jobs market. A report showed employers hired more workers last month  than economists expected.




					apnews.com
				




Stocks sink as Wall Street eyes downside of solid jobs data​By STAN CHOE and DAMIAN J. TROISE

NEW YORK (AP) — U.S. stocks fell broadly Friday and pulled major indexes into the red for the week as Wall Street focused on the downside of the still-strong U.S. jobs market.

A report showed employers hired more workers last month than economists expected. While that’s a good sign for the economy amid worries about a possible recession, many investors saw it keeping the Federal Reserve on its path to hiking interest rates aggressively. Such moves would slow the economy in hopes of ultimately knocking down high inflation, and the Fed risks causing a recession if it moves too quickly or too far. In the meantime, higher interest rates put downward pressure on stocks and other investments.

The S&P 500 index fell 68.28 points, or 1.6%, to 4,108.54. It’s a reversal from Thursday’s market movements, when a narrower report on the U.S. jobs market came in weaker than expected. That bolstered speculation the Fed may consider a pause in raising rates later this year, and the hopes for a less-aggressive Fed sent stocks jumping.

The slide on Friday also dragged the benchmark S&P 500 into its eighth weekly loss in the last nine. The outlier in that stretch was last week, when stocks roared in part on speculation that the Fed would consider a pause in rate hikes in September.

The Dow Jones Industrial Average fell 348.58 points, or 1%, to 32,899.70. The Nasdaq fell 304.16 points, or 2.5%, to 12,012.73.

Bitcoin also fell, while a measure of worry in the stock market rose, even though some glass-half-full signals for inflationary pressures were buried within the jobs data.

Friday’s comprehensive report from the U.S. government showed employers added 390,000 jobs last month, better than expectations for 322,500. That sent Treasury yields climbing, though they initially wobbled as investors moved from one knee-jerk reaction to another following the report’s release.

The yield on the two-year Treasury, which tends to move with expectations for Fed action, rose to 2.68% from 2.62% just before the report’s release. The 10-year yield, which tracks expectations for longer-term growth and inflation, rose to 2.95% from 2.91% after earlier climbing as high as 2.99%.

The report did contain some signals analysts said could ultimately get the Fed to be less aggressive, and the mixed data could lead markets to swing through Friday. Big daily reversals have become the norm recently as Wall Street struggles to handicap how aggressive the Fed will be.

Average wages for workers were a touch weaker in May than economists expected. While that’s discouraging for people watching prices at the grocery store and gasoline pump jump more than their paychecks, it could mean less future pressure on inflation across the economy. Plus, the nation’s job growth decelerated last month, even if it was better than expectations.

“The employment situation remains solid for the economy, but there are some signs of slowing,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments. “The signs aren’t clear and convincing enough to suggest the Fed needs to pause yet, but a lot can change over the next few months.”

More than four out of five stocks in the S&P 500 fell amid the worries about rising rates, with the heaviest losses hitting technology stocks 
and other big winners of the prior low-rate world.

Tesla tumbled 9.2% after U.S. safety regulators said more than 750 owners have complained about cars suddenly stopping on roadways for no apparent reason while operating on thier partially automated driving systems. A report also said Tesla is considering layoffs amid concerns by its CEO, Elon Musk, about the economy. Because Tesla is the fifth-biggest company in the S&P 500, its movements carry a heavier weight on the index.

Companies from Walmart to Delta Air Lines have recently warned how inflation is eating into their profits, which has upped the pressure on markets because stock prices tend to track profits over the long term. The warnings are layering on top of the market’s worries about Russia’s invasion of Ukraine and about business-slowing, anti-COVID measures in China.

“There are just so many uncertainties,” said John Lynch, chief investment officer for Comerica Wealth Management. “You can’t put Ukraine on a spreadsheet and you can’t put lockdowns in China on a spreadsheet.”

JPMorgan Chase’s CEO, Jamie Dimon, said earlier this week that he’s preparing his company for a possible economic “hurricane,” highlighting less economic support from the U.S. government and Federal Reserve, as well as the war in Ukraine.


----------



## bigdog

Market watch​


ASX futures down 32 points, or 0.4% to 7210 on Saturday


Australian dollar at 72.12 US cents at 7.12am AEST
Wall Street: S&P 500 -1.6%, Dow Jones -1.1%, Nasdaq -2.5%
Europe: Stoxx 50 -0.3%, FTSE -1%, DAX -0.2%, CAC -0.2%
Bitcoin +0.2% to $US29,815.89 on Bitstamp at 7.19am AEST
Spot gold -0.9% to $US1851.19 per ounce on Saturday
Brent crude +1.8% to $US119.72 on Saturday
US oil +1.7% to $US118.87 a barrel on Saturday
Iron ore +1.2% to $US144.02 per tonne (Tianjin)


----------



## noirua

*The U.S. Savings Rate has fallen to its lowest level in 12 years* as consumers struggle to keep up with inflation.
*$6.5 trillion of U.S. government bonds are maturing* and will probably need to be rolled forward at significantly higher rates.
*Panelists at the World Economic Forum voiced concern* over the challenges the global economy is facing.


----------



## bigdog

Asian markets mixed after Wall St bond sell-off
					

BEIJING (AP) — Asian stock markets were mixed Tuesday following a bond sell-off on Wall Street amid anxiety about higher U.S. interest rates. Shanghai and Tokyo advanced while Hong Kong and Seoul declined.




					apnews.com
				




Wall Street ticks higher as recession watch remains murky​By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — U.S. stocks ticked higher Monday as Wall Street keeps wrestling with whether the economy will successfully avoid a recession amid rising interest rates and high inflation.

The S&P 500 rose 12.89 points, or 0.3%, to 4,121.43 after swinging through another day of erratic moves, in what’s become the norm for markets. The Dow Jones Industrial Average edged up 16.08, or less than 0.1%, to 32,915.78, and the Nasdaq composite gained 48.64, or 0.4%, to 12,061.37.

Stocks started the day with bigger gains, and the S&P 500 was up as much as 1.5%, with the Nasdaq briefly up nearly 2%. But they fell back as Treasury yields continued to climb, putting downward pressure on stocks. When safe bonds are paying more in interest, investors are usually less willing to pay high prices for stocks, which are riskier.

The yield on the 10-year Treasury jumped back above 3% to 3.04%, up from 2.95% late Friday. It’s moving toward its levels from early and mid-May, when it reached its highest point since 2018 amid expectations for the Federal Reserve to raise interest rates aggressively in order to rein in the worst inflation in decades.

Such moves will slow the economy by design, and investors are trying to guess beforehand whether the Fed will move so aggressively or so quickly that it will cause a recession.

Economists at Goldman Sachs said in a research note they still see the Fed and its chair, Jerome Powell, on course to walk the line successfully and engineer what’s called a “soft landing” for the economy. That was more encouraging than some of the warnings that dragged on markets last week, including one from JPMorgan Chase CEO Jamie Dimon, who said he’s preparing for an economic “hurricane.”

The number of job openings has started to decline, which could reduce some of the pressure pushing wages and inflation higher. Snarled supply chains around the world have also improved, though the Goldman Sachs economists led by Jan Hatzius still see a 35% risk of a U.S. recession within the next two years.

“To say that markets are likely to remain rangebound is often a cliché, but we think it currently has more content than normal because Chair Powell is so intently focused on the role of financial conditions in delivering a soft landing,” Hatzius wrote.

As it measures financial conditions, the Fed looks at how prices are behaving in stock and bond markets. The S&P 500 is close to where it was a month ago, churning as investors put on and take off bets that the Fed may take a pause later this year in its sharp hikes to interest rates. But stocks have endured big day-to-day and even hour-to-hour swings through that stretch, and the S&P 500 remans 13.5% below where it began the year.

Wall Street’s gains to start the week followed up on strength for European and Asian stock markets after Chinese authorities relaxed some COVID-related restrictions. Diners returned to restaurants in Beijing for the first time in more than a month, for example. That eased concerns tough anti-virus measures will slow the world’s second-largest economy and further hinder global supply chains

Stocks in Shanghai rose 1.3%, Hong Kong’s Hang Seng jumped 2.7% and Germany’s DAX returned 1.3%.

On Wall Street, companies in the solar power industry were some of the biggest gainers after President Joe Biden ordered emergency measures to increase U.S. manufacturing of solar panels and exempted panels from Southeast Asia from tariffs for two years.

Enphase Energy jumped 5.4%, and SolarEdge Technologies rose 2.9%.

Amazon was one of the biggest forces pushing the S&P 500 higher. It rose 2% after splitting its stock, 20-for-1. Such a move lowers its stock price and makes it more affordable to some smaller-pocketed investors, all while leaving its total value alone.

Spirit Airlines rose 7% after JetBlue Airways boosted its buyout offer in the bidding war for the discount carrier.

On the losing side was Twitter, which slipped 1.5% after Tesla CEO Elon Musk threatened to call off his deal to buy the company, saying Twitter was refusing to hand over data. Musk has been complaining about how many of Twitter’s users are actually bots and fake accounts. Shares of Tesla rose 1.6%.

Big swings could still be ahead for Wall Street this week, particularly on Friday when the U.S. government releases its latest monthly update on inflation.




Market watch​


ASX futures down 3 points to 7209 at 6.39am AEST

U.S. stocks ticked higher Monday as Wall Street keeps wrestling with whether the economy will successfully avoid a recession amid rising interest rates and high inflation.

The S&P 500 rose 12.89 points, or 0.3%, to 4,121.43 after swinging through another day of erratic moves, in what’s become the norm for markets. The Dow Jones Industrial Average edged up 16.08, or less than 0.1%, to 32,915.78, and the Nasdaq composite gained 48.64, or 0.4%, to 12,061.37.



Australian dollar -0.2% to 71.94 US cents at 6.50am AEST
Wall Street: S&P 500 +0.1%, Dow Jones +0.3%, Nasdaq +0.4%
Europe: Stoxx 50 +1.5%, FTSE +1%, DAX +1.3%, CAC +1%
Bitcoin +4.9% to $US31,423.77 on Bitstamp at 6.53am AEST
Spot gold -0.5% to $US1842.08 per ounce at 6.47am AEST
Brent crude +0.1% to $US119.88 at 6.39am AEST
US oil +0.1% to $US118.94 a barrel at 6.39am AEST
Iron ore +0.6% to $US144.81 per tonne (Tianjin)
10-year yield: US 3.04% Australia 3.48% Germany +1.32%


----------



## Dona Ferentes

Today, Amazon is doing something it hasn’t done since the dot-com bubble…

A_ stock split_.

If you own Amazon, for every one share you had on Friday, you now have 20 shares. This does not change the value of your investment. If you have an apple pie and split it into 20 pieces, you still have the same amount of pie.

So, don’t panic if you own Amazon and notice the stock has “dropped” from around $2,400 to around $120. You haven’t lost any money, and Amazon’s business hasn’t changed. You just own more, smaller pieces of the company

*So, why is Amazon bothering to split its stock? *
The first reason is to get more individual investors to buy it. With the growth of no-fee trading platforms like Robinhood, more Millennials and Gen Z’ers are dropping their pennies into the market. Many of these newbie investors aren’t working with much capital. Robinhood says its median account size is $240. So, a stock split allows more people with small accounts to buy shares.

​
The second reason to split a stock is employee compensation. Amazon has 1.6 million employees. Last year it doled out $12 billion in stock-based compensation. Of course, many of Amazon’s employees are not eligible for this. But a lower stock price makes the situation easier for the company to manage.

*The third reason to split a stock comes back to passive indexing. *
Or more specifically, the oldest index in the world—the Dow Jones Industrial Average.

The Dow is a basket of 30 blue-chip stocks. It’s weighted differently than other indices. The S&P 500 and the Russell 2000 weight companies by market capitalization. But the Dow weights companies solely on stock price.

Despite its size, Amazon is not in the Dow. However, its more palatable post-split price may boost its chances of getting a spot. That, in turn, would help support a higher stock price.


Amazon has sunk 22% in the past 12 months. Yes, it’s a massive company. We all order off its site. And it’s investing “through its income statement,” which depresses current earnings.

But would you call it a bargain? On a trailing 12-month basis, operating cash flow was $39 billion. That’s before $63 billion in major capital expenditures. So, at today’s prices, the stock is trading for 30 times operating cash flow.

The only part of Amazon that’s making much money is Amazon Web Services, or AWS. It accounted for 74% of operating earnings last year. Meanwhile, Amazon’s international retail business lost money. And its North American retail business put up a razor thin 2.5% operating margin


----------



## bigdog

Asian shares mostly higher after wobbly rally on Wall St
					

BANGKOK (AP) — Shares were mostly higher in Asia on Wednesday after U.S. stocks rallied on heavy buying of technology companies. Advancing Chinese technology shares also pushed Hong Kong sharply higher.




					apnews.com
				




Stocks rally as uncertainties keep Wall Street wobbly​By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — U.S. stocks rallied Tuesday as Treasury yields eased, but Wall Street remains wobbly as investors wait for more clarity on where interest rates, inflation and the economy are heading.

The S&P 500 climbed 39.25 points, or 1%, to 4,160.68 after reversing a morning loss of 1%. The Dow Jones Industrial Average rose 264.36 points, or 0.8%, to 33,180.14 after it also bounced between losses and gains throughout the day. The Nasdaq composite gained 113.86 points, or 0.9%, to 12,175.23.

Gains by Apple, Microsoft and other technology stocks were some of the biggest forces lifting the market. They benefited from a drop in Treasury yields, with the 10-year yield falling back below 3%. Lower yields in recent years have emboldened investors to pay higher prices for stocks, particularly companies that are growing quickly.

Stocks of energy producers also jumped as oil prices rose to roughly $120 per barrel, up more than 55% for the year so far. Exxon Mobil climbed 4.6%, and ConocoPhillips added 4.5%.

Kohl’s soared 9.5% after the department store chain said it’s in advanced talks to sell itself for about $8 billion to Vitamin Shoppe owner Franchise Group. Jam maker J.M. Smucker rose 5.7% after reporting stronger earnings than analysts expected.

Wall Street started the day pessimistic, and stocks initially fell after Target warned of lower profit margins as it slashes prices to clear out inventory. The retail giant sank 2.3% after it announced moves it said were needed to keep up with customers’ changing behaviors. Across the country, shoppers are spending more at restaurants and on travel than on sprucing up their homes as they did earlier in the pandemic.

Other retailers got caught in the downdraft, and Walmart fell 1.2%.

Worries were also stoked by the World Bank sharply cutting its forecast for economic growth this year. It pointed to Russia’s war against Ukraine and the prospect of widespread food shortages, raising the potential return of “ stagflation,” a toxic mix of high inflation and sluggish growth unseen for more than four decades.

The economy’s fragility has been atop Wall Street’s mind this year amid worries about interest-rate hikes coming from the Federal Reserve. The central bank is moving aggressively to stamp out the worst inflation in decades, but it risks choking off the economy if it moves too far or too quickly.

The Fed is widely expected to raise its key short-term interest rate by half a percentage point at its meeting next week. That would be the second straight increase of double the usual amount, and investors expect a third in July.

The Fed is not alone in reining in the massive support thrown at the economy and financial markets during the pandemic. Australia’s central bank surprised investors Tuesday by raising interest rates by half a percentage point.

Even if central banks pull off the delicate act of slowing the economy enough to halt inflation but not so much as to cause a recession, markets face other challenges.

“Rising rates and slowing growth are not a supportive environment for investors, so it is unlikely that equity or fixed income returns will match the stimulus-fueled returns of the past two years,” Gargi Chaudhuri, head of iShares investment strategy, Americas, said in a report. She said she thinks the U.S. will avoid a recession.

Treasury yields have largely climbed through this year with expectations for a more aggressive Fed. They moderated a bit on Tuesday, though.

The yield on the 10-year Treasury fell back to 2.98% from 3.03% late Monday. The two-year yield, which more closely tracks expectations for Fed action, dipped more modestly to 2.72% from 2.73%.

Markets could remain erratic until more clarity emerges over inflation and the economy. The next big update on inflation arrives Friday, when the U.S. government releases its latest reading on the consumer price index.

*Market watch

ASX futures up 48 points or 0.7% to 7149 at 6.41am AEST*

Australian dollar +0.6% to 72.33 US cents at 6.38am AEST​​Wall Street: S&P 500 +1%, Dow Jones +0.8%, Nasdaq +0.9%​​Europe: Stoxx 50 -0.8%, FTSE -0.1%, DAX -0.7%, CAC -0.7%​​Bitcoin -0.3% to $US31,282.20 on Bitstamp at 6.39am AEST​​Spot gold +0.6% to $US1852.60 per ounce at 6.35am AEST​​Brent crude +1.3% to $US121.04 at 6.24am AEST​​US oil +1.2% to $US119.94 a barrel at 6.24am AEST​​Iron ore +0.7% to $US145.88 per tonne (Tianjin)​​10-year yield: US 2.98% Australia 3.55% Germany +1.29%​


----------



## bigdog

Asian shares fall as oil lingers above $120, yen sinks
					

TOKYO (AP) — Shares were mostly lower in Asia on Thursday as investors watched for fresh signs of inflation and crude oil prices hovered above $120 a barrel, adding to price pressures.  Benchmarks declined across the region, except in Tokyo, where a weakening yen sent issues of some Japanese...




					apnews.com
				




Stocks fall as choppy trading persists on Wall Street​By DAMIAN J. TROISE

NEW YORK (AP) — Stocks fell broadly on Wall Street Wednesday, erasing most of their gains for the week, as investors were discouraged to see more evidence of inflation’s impact on businesses and another gloomy outlook on the global economy.

The losses follow several bumpy days for markets, with major indexes often lurching between gains and losses by the hour. The volatility persists as investors try to determine how rising interest rates and inflation will impact the economy.

The S&P 500 index fell 44.91 points, or 1.1%, to 4,115.77. The benchmark index managed to hold on to a slight gain for the week. It has notched losses for eight of the last nine weeks.

The Dow Jones Industrial Average fell 269.24 points, or 0.8%, to 32,910.90 and the Nasdaq fell 88.96 points, or 0.7%, to 12,086.27.

Banks and industrial companies were among the biggest weights on the broader market. Wells Fargo fell 1.8% and Union Pacific shed 3.1%. Some technology stocks also fell. Intel lost 5.3%.

Smaller company stocks fell more than the rest of the market. The Russell 2000 fell 28.56 points, or 1.5%, to 1,891.01.

Bond yields rose. The yield on the 10-year Treasury, which banks use to set rates on mortgages and other loans, rose to 3.02% from 2.97% late Tuesday

The big concerns on Wall Street remain rising inflation and whether the Federal Reserve’s shift to aggressively raise interest rates will help temper the impact or possibly push the economy into a recession.

“What investors need to realize is it’s going to be a long time until inflation numbers look good,” said Brian Levitt, global market strategist at Invesco. “What they need to focus on is whether it gets better or worse related to expectations.”

Inflation continues to sting businesses. Lawn care products company Scotts Miracle-Gro slumped 8.9% after slashing its profit forecast for the year because retailers aren’t replenishing orders as expected. Retailers have been warning that inflation is crimping sales as consumers shift to either spending on services or focusing on necessities rather than purchasing otherwise discretionary items, like electronics.

The impact from inflation has only been worsened by Russia’s invasion of Ukraine, which has put more pressure on energy and food prices since February. U.S. crude oil prices rose 2.3% on Wednesday and are up 63% for the year, while wheat prices are up 39% in 2022. Supply chains have also gotten tighter following a series of lockdowns for Chinese cities fighting COVID-19 cases.

“As long as commodity prices remain elevated, its going to be more difficult to see headline inflation come down,” Levitt said.

Greater inflation pressure from the conflict in Ukraine and lockdowns in China prompted the Organization for Economic Cooperation and Development to cut its forecast for economic growth, following several other international groups, including the World Bank, that expect inflation to have a lingering impact on economies around the world.

Treasury Secretary Janet Yellen, testifying before the the Senate Finance Committee on Tuesday, said she expects inflation to remain elevated and bringing that down is a top priority. The Fed is widely expected to raise its key short-term interest rate by half a percentage point at its meeting next week. That would be the second straight increase of double the usual amount, and investors expect a third in July

The Fed’s goal is to slow economic growth enough to cushion inflation’s impact. Demand for goods had been outpacing supplies and production capacity through most of the post-pandemic recovery. But, investors are concerned that the Fed could go too far too fast in raising rates and nudge the U.S. economy into a recession, especially with economic growth already slowing.

Wall Street is closely watching economic data for signals that could prompt the Fed to potentially ease up on the size of its rate increases. The next big update on inflation arrives Friday, when the U.S. government releases its latest reading on the consumer price index

*Market watch

ASX futures down 51 points or 0.7% to 7082 at 6.37am AEST*

The S&P 500 index fell 44.91 points, or 1.1%, to 4,115.77. The benchmark index managed to hold on to a slight gain for the week. It has notched losses for eight of the last nine weeks.

The Dow Jones Industrial Average fell 269.24 points, or 0.8%, to 32,910.90 and the Nasdaq fell 88.96 points, or 0.7%, to 12,086.27.

Australian dollar -0.6% to 71.91 US cents at 6.45am AEST

Wall Street: S&P 500 -1.1%, Dow Jones -0.8%, Nasdaq -0.7%

Europe: Stoxx 50 -0.5%, FTSE -0.1%, DAX -0.8%, CAC -0.8%

Bitcoin -3.6% to $US30,231.24 on Bitstamp at 6.46am AEST

Spot gold -0.1% to $US1851.49 per ounce at 6.42am AEST

Brent crude +2.9% to $US124.04 at 6.34am AEST

US oil +2.7% to $US122.63 a barrel at 6.34am AEST

Iron ore -0.4% to $US145.34 per tonne (Tianjin)







10-year yield: US 3.02% Australia 3.54% Germany +1.35%


----------



## bigdog

Asian shares mixed after rate jitters tumble on Wall Street
					

BANGKOK (AP) — Shares were mostly lower in Asia on Friday, with only Shanghai rising, after stocks tumbled on Wall Street on expectations central banks will double down on battling inflation with interest rate hikes.




					apnews.com
				




Stocks tumble as rate pressures grow, inflation report looms​By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — Stocks on Wall Street tumbled Thursday following the latest reminder that central banks now care more about fighting inflation than propping up markets.

The S&P 500 sank 2.4%, putting it on track for its ninth losing week in the last 10. The Dow Jones Industrial Average fell 1.9%, and the Nasdaq composite lost 2.7%.

Wall Street’s losses accelerated as the closing bell for trading approached, with traders scrambling to get in last moves ahead of a highly anticipated report on U.S. inflation due Friday morning. The S&P 500’s drop more than doubled in the final hour of trading.

The weakness for markets started on the other side of the Atlantic after the European Central Bank said it would raise interest rates next month for the first time in more than a decade. Another hike is set for September, possibly by double July’s increase, and the central bank will also halt its bond-buying program next month

It all marks a “sea change” in policy for the European Central Bank, according to Marilyn Watson, head of global fundamental fixed income strategy at BlackRock.

And it’s part of a growing global tide where central banks are removing the ultra-low interest rates that were meant to goose borrowing, economic growth and stock prices through the pandemic. Instead, they’ve swung their focus toward raising interest rates and making other moves to slow growth in order to knock down high inflation

The risk is that such moves could cause a recession if they’re too aggressive. Even if central banks can pull off the delicate balancing act and avoid a recession, higher interest rates put downward pressure on stocks and all kinds of investments regardless.

The wide expectation is that the Fed will raise its key interest rate next week by half of a percentage point, the second straight increase of double the usual amount. Investors expect a third to hit in July.

Where the Fed goes from there depends on inflation’s path, which is why Wall Street is so keyed in on the latest reading for the U.S. consumer price index, which is due Friday morning. Economists expect it to show inflation slowed a touch to 8.2% in May from 8.3% a month earlier.

Investors have been searching for signs that inflation may have already passed its peak, which would be good for markets because it could mean a less aggressive Fed. Speculation has been rising and falling that the Fed could take a pause on rate hikes at its September meeting, swaying with every data point on the economy. That in turn has made stocks particularly prone to big swings.

The S&P 500 lost 97.95 points to close at 4,017.82, while the Dow Jones Industrial Average fell 638.11 to 32,272.79 and the Nasdaq composite tumbled 332.05 to 11,754.23.

European stocks sank immediately following the European Central Bank’s announcement on rates, which came before U.S. markets opened. French stocks were down only slightly before the announcement, but the CAC 40 index fell to a 1.4% loss afterward. Germany’s DAX lost 1.7%

In the U.S., Treasury yields rose following the move from Amsterdam, though they wobbled a bit after that. The 10-year Treasury yield got as high as 3.09% before paring back to 3.04%, up from 3.02% late Wednesday.

A report showed that slightly more U.S. workers filed for unemployment last week than economists expected. That’s a potentially negative signal, but the overall number still remains low compared with history. Economists also said seasonal factors may have affected the most recent numbers, overstating some things due to the Memorial Day holiday.

Higher gasoline prices have been putting a tighter squeeze on both companies and households, upping the pressure on budgets. Crude oil prices were down modestly on Thursday, but they remain up by roughly 60% for the year. Much of the jump is due to Russia’s invasion of Ukraine.

Lockdowns in major Chinese cities because of COVID-19 have added more pressure to global supply chains, which in turn worsens inflation. But some of the impact could be easing. China reported its exports surged 17% over a year earlier in May, up from April’s 3.7% growth, as coronavirus precautions loosened in Shanghai and other cities.

Many investors are bracing for big swings in financial markets to continue given the deep uncertainties about where inflation and the Fed’s policies are heading. Stocks have been clawing back since hitting a bottom in the middle of last month, but the S&P 500 remains down 15.7% for the year so far.

“Even if the market bottomed in May, we will see another sell-off at some point,” Nancy Tengler, CEO of Laffer Tengler Investments, wrote in a research note, “and some of us will feel worse than we thought we could because we thought it was over.”

*Market watch

ASX futures down 55 points or 0.8% to 6964 at 6.59am AEST*

Stocks on Wall Street tumbled Thursday following the latest reminder that central banks now care more about fighting inflation than propping up markets.

The S&P 500 sank 2.4%, putting it on track for its ninth losing week in the last 10. The Dow Jones Industrial Average fell 1.9%, and the Nasdaq composite lost 2.7%.

Australian dollar -1.3% to 70.98 US cents at 6.42am AEST​​Wall Street: S&P 500 -2.4%, Dow Jones -1.9%, Nasdaq -2.8%​​Europe: Stoxx 50 -1.7%, FTSE -1.5%, DAX -1.7%, CAC -1.4%​​Bitcoin -0.5% to $US30,076.37 on Bitstamp at 6.45am AEST​​Spot gold -0.3% to $US1847.98 per ounce at 6.31am AEST​​Brent crude -0.5% to $US122.91 at 6.34am AEST​​US oil -0.6% to $US121.36 a barrel at 6.33am AEST​​Iron ore -1.2% to $US143.63 per tonne (Tianjin)​​10-year yield: US 3.04% Australia 3.60% Germany +1.42%​


----------



## bigdog

Stocks dive to another losing week as inflation worsens
					

NEW YORK (AP) — Wall Street’s shuddering realization that inflation got worse last month, not better as hoped, sent markets reeling on Friday.  The S&P 500 sank 2.9% to lock in its ninth losing week in the last 10, and tumbling bond prices sent Treasury yields to their highest levels in years.




					apnews.com
				




Stocks dive to another losing week as inflation worsens​By STAN CHOE and DAMIAN J. TROISE

NEW YORK (AP) — Wall Street’s shuddering realization that inflation got worse last month, not better as hoped, sent markets reeling on Friday.

The S&P 500 sank 2.9% to lock in its ninth losing week in the last 10, and tumbling bond prices sent Treasury yields to their highest levels in years. The Dow Jones Industrial Average lost 2.7%, and the Nasdaq composite dropped 3.5%.

Wall Street came into Friday hoping a highly anticipated report would show the worst inflation in generations slowed a touch last month and passed its peak. Instead, the U.S. government said inflation accelerated to 8.6% in May from 8.3% a month before.

The Federal Reserve has already begun raising interest rates and making other moves in order to slow the economy, in hopes of forcing down inflation. Wall Street took Friday’s reading to mean the Fed’s foot will remain firmly on the brake for the economy, dashing hopes that it may ease up later this year.

“Inflation is hot, hot, hot,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments. “Basically, everything was up.”

The growing expectation is for the Fed to raise its key short-term interest rate by half a percentage point at each of its next three meetings, beginning next week. That third one in September had been up for debate among investors in recent weeks. Only once since 2000 has the Fed raised rates by that much, last month.

“No relief is in sight, but a lot can change between now and September,” Jacobsen said. “Nobody knows what the Fed will do in a few months including the Fed.”

The nation’s high inflation, plus the expectations for an aggressive Fed, have sent the two-year Treasury yield to its highest level since 2008 and the S&P 500 down 18.7% from its record set in early January. The worst pain has hit high-growth technology stocks, cryptocurrencies and other particularly big winners of the pandemic’s earlier days. But the damage is broadening out as retailers and others are warning about upcoming profits.

The S&P 500 fell 116.96 points to 3,900.86. Combined with its losses from Thursday, when investors were rushing to lock in final trades before the inflation report, it was the worst two-day stretch for Wall Street’s benchmark in nearly two years.

The Dow lost 880.00 points to 31,392.79, and the Nasdaq tumbled 414.20 to 11,340.02.

Stock prices rise and fall on two things, essentially: how much cash a company produces and how much an investor is willing to pay for it. The Fed’s moves on interest rates heavily influence that second part.

Since early in the pandemic, record-low interest rates engineered by the Fed and other central banks helped keep investment prices high. Now “easy mode” for investors is abruptly and forcefully getting switched off.

Not only that, too-aggressive rate hikes by the Fed could ultimately force the economy into a recession. Higher interest rates make borrowing more expensive, which drags on spending and investments by households and companies.

One of the fears among investors is that food and fuel costs may keep surging, regardless of how aggressively the Fed moves.

“The fact is that the Fed has very little ability to control food prices,” Rick Rieder, BlackRock’s chief investment officer of global fixed income said in a statement. He pointed instead to mismatches in supplies and demand, higher costs for energy and wages and the crisis in Ukraine, which is a major breadbasket for the world.

That raises the threat that central banks will overly tighten the brakes on the economy, as they push against a string “and essentially fall into a damaging policy mistake,” Rieder said.

The economy has already shown some mixed signals, and a report on Friday indicated consumer sentiment is worsening more than economists expected. Much of the souring in the University of Michigan’s preliminary reading was due to higher gasoline prices.

That adds to several recent profit warnings from retailers indicating U.S. shoppers are slowing or at least changing their spending because of inflation. Such spending is the heart of the U.S. economy.

The two-year Treasury yield zoomed to 3.05% following the inflation report from 2.83% late Thursday, a big move for the bond market. During the day, it touched its highest level since George W. Bush’s presidency, according to data from Tradeweb.

The 10-year yield was also up, but not quite as dramatically as the two-year yield, which is more influenced by expectations for Fed movements. The 10-year yield climbed to 3.15% from 3.04% and touched its highest level since 2018.

The narrowing gap between those two yields is a signal that investors in the bond market are more concerned about economic growth. Usually, the gap is wide, with 10-year yields higher because they require investors lock away their dollars for longer.

A two-year yield higher than the 10-year yield would be a signal to some investors that a recession may hit in a year or two.

“This market is to some degree in this no-man’s land, where you don’t have a really good definite signal that says get constructive and buy the market, but you don’t have solid information about a recession being more likely in order to get more defensive,” said Jason Pride, chief investment officer of private wealth at Glenmede.

Friday’s losses were widespread for the S&P 500, with more than 90% of stocks in the index dropping.

Big Tech stocks were some of the the heaviest weights amid broad losses for the biggest winners of the prior ultralow-rate era. Microsoft fell 4.5%, Amazon dropped 5.6% and Nvidia sank 6%.


----------



## bigdog

Asian benchmarks decline after bear market hits Wall Street
					

TOKYO (AP) — Asian shares fell across the board Tuesday after Wall Street tumbled into a bear market , indicating that major U.S.




					apnews.com
				




Bear market hits Wall Street as stocks, bonds, crypto dive​By STAN CHOE

NEW YORK (AP) — Wall Street tumbled into what’s called a bear market Monday after fears about a fragile economy and rising interest rates sent the S&P 500 more than 20% below its record set early this year.

The index sank 3.9% in the first chance for investors to trade after getting the weekend to reflect on the stunning news that inflation is getting worse, not better. The Dow Jones Industrial Average was briefly down more than 1,000 points before finishing with a loss of 876.

At the center of the sell-off again was the Federal Reserve, which is scrambling to get inflation under control. Its main method to do that is to raise interest rates in order to slow the economy, a blunt tool that risks a recession if used too aggressively.

With the Fed seemingly pinned into having to get more aggressive, prices fell in a worldwide rout for everything from bonds to bitcoin, from New York to New Zealand. Some of the sharpest drops hit what had been big winners of the easier low-rate era, such as high-growth technology stocks and other former darlings of investors. Tesla slumped 7.1%, and Amazon dropped 5.5%. GameStop tumbled 8.4%.

“The best thing people can do is to not panic and don’t sell at the bottom,” said Randy Frederick, managing director of trading and derivatives at the Schwab Center for Financial Research, “and we’re probably not at the bottom.”

Some economists are speculating the Fed on Wednesday may raise its key rate by three-quarters of a percentage point. That’s triple the usual amount and something the Fed hasn’t done since 1994. Traders now see a 28% probability of such a mega-hike, up from just 3% a week ago, according to CME Group.

No one thinks the Fed will stop there, with markets bracing for a continued series of bigger-than-usual hikes. Those would come on top of some discouraging signals about the economy and corporate profits, including a record-low preliminary reading on consumer sentiment soured by high gasoline prices.

The economy is still holding up overall, but the danger is that the job market and other factors are so hot that they will feed into higher inflation. That’s why the Fed is in the midst of a whiplash pivot away from the record-low interest rates it engineered earlier in the pandemic, which propped up stocks and other investments amid hopes of juicing the economy.

Wall Street’s sobering realization that inflation is accelerating, not peaking, is also sending U.S. bond yields to their highest levels in more than a decade. The two-year Treasury yield shot to 3.36% from 3.06% late Friday in its second straight major move. It earlier touched its highest level since 2007, according to Tradeweb.

The 10-year yield jumped to 3.37% from 3.15%, and the higher level will make mortgages and many other kinds of loans more expensive. It touched its highest level since 2011.

The higher yields mean prices are tumbling for bonds, a relatively rare occurrence for them in recent decades. They’re also a particularly painful hit for older and more conservative investors who depend on them as the safer parts of their nest eggs.

The gap between the two-year and 10-year yields has also narrowed sharply, a signal of weakening optimism about the economy. When the two-year yield tops the 10-year, an unusual occurrence, some investors see it as a sign of a looming recession.

Some of the biggest hits came for cryptocurrencies, which soared early in the pandemic as ultralow rates encouraged some investors to pile into the riskiest investments. Bitcoin tumbled more than 14% from a day earlier and dropped below $23,400, according to Coindesk. It’s back to where it was in late 2020 and down from a peak of $68,990 late last year.

On Wall Street, the S&P 500 fell 151.23 points to 3,749.63 and dropped 21.8% below its record set early this year to put it into what investors call a bear market.

Bears hibernate, so bears represent a market that’s retreating, said Sam Stovall, chief investment strategist at CFRA. In contrast, Wall Street’s nickname for a surging stock market is a bull market, because bulls charge, Stovall said.

The S&P 500 has lost nearly 9% in just three days. That’s its worst such stretch since the earliest days of the coronavirus crash in March 2020. The Dow lost 876.05, or 2.8%, to 30,516.74 on Monday, and the Nasdaq composite dropped 530.80, or 4.7% to 10,809.23.

The coronavirus crash in early 2020 was Wall Street’s last bear market, and it was an unusually short one that lasted only about a month. The S&P 500 got close to a bear market last month, but it didn’t finish a day below the 20% threshold.

Michael Wilson, a strategist at Morgan Stanley who’s been among Wall Street’s more pessimistic voices, is sticking with his view that the S&P 500 could fall further to 3,400 even if the U.S. economy avoids a recession over the next year.

That would mark another roughly 9% drop from the current level, and Wilson said it reflects his view that Wall Street’s earnings forecasts are still too optimistic, among other things.

With soaring price tags souring sentiment for shoppers, even higher-income ones, Wilson said in a report that “the next shoe to drop is a discounting cycle” as companies try to clear out built-up inventories.

Such moves would cut into their profitability, and a stock’s price moves up and down largely on two things: how much cash a company generates and how much an investor will pay for it.

*Market watch*
ASX futures down 178 points or 2.6% to 6636 at 6.49am AEST

Wall Street tumbled into what’s called a bear market Monday after fears about a fragile economy and rising interest rates sent the S&P 500 more than 20% below its record set early this year.

The index sank 3.9% in the first chance for investors to trade after getting the weekend to reflect on the stunning news that inflation is getting worse, not better. The Dow Jones Industrial Average was briefly down more than 1,000 points before finishing with a loss of 876.

Australian dollar down 1.9% to 69.24 US cents at 6.38am AEST

Wall Street: S&P 500 -3.9%, Dow Jones -2.8%, Nasdaq -4.7%

Europe: Stoxx 50 -2.7%, FTSE -1.5%, DAX -2.4%, CAC -2.7%

Bitcoin -14.7% to $US23,358.84 on Bitstamp at 6.49am AEST

Spot gold -2.7% to $US1820.69 per ounce at 6.37am AEST

Brent crude flat at $US122.05 at 6.37am AEST

US oil +0.1% to $US120.78 a barrel at 6.37am AEST

Iron ore -0.8% to $US140.34 per tonne (Tianjin)

 10-year yield: US 3.36% Australia 3.67% Germany +1.63%


----------



## bigdog

https://apnews.com/article/stock-market-today-june-14-a5787764c28d57d02b9590b3ee3f4efa

*Stocks dip deeper into bear market ahead of big Fed news*

By STAN CHOE and DAMIAN J. TROISE

NEW YORK (AP) — Most stocks on Wall Street dipped Tuesday in their first trading after tumbling into a bear market on worries that high inflation will push central banks to clamp the brakes too hard on the economy.

The S&P 500 fell 14.15, or 0.4%, to 3,735.48 as investors braced for the Federal Reserve’s announcement on Wednesday about how sharply it will raise interest rates. It wobbled between losses and gains through the day after a couple big companies flexed financial strength with stronger profits and payouts to shareholders.

The Dow Jones Industrial Average fell 151.91 points, or 0.5%, to 30,364.83. The Nasdaq composite rose 19.12, or 0.2%, to 10,828.35 after swinging between a a loss of 0.7% and a gain of 1.1%.

Despite the swings, trading across markets was still calmer than during Monday’s worldwide rout, which sent the S&P 500 down 3.9%. Stocks fell more than 1% in Tokyo and Paris but rose that much in Shanghai. A measure of nervousness among investors on Wall Street eased, even as Treasury yields again pierced their highest levels in more than a decade.

“No one’s going to take meaningful positions today ahead of what could be a rip-roaring day” with the Fed’s announcement, said Katie Nixon, chief investment officer for Northern Trust Wealth Management.

Cryptocurrency prices continued to swing. They’ve been among the hardest-hit in this year’s sell-off for markets as the Federal Reserve and other central banks raise interest rates to rein in inflation and forcefully turn off the “easy mode” that helped prop up markets for years. Bitcoin was down nearly 5% in afternoon trading and sitting at $22,201, according to CoinDesk. It earlier fell to nearly 70% below its record of $68,990.90 set late last year.

Offering some support to the market was a report that showed inflation at the wholesale level was a touch lower in May than expected, though it remains very high. It could be an indication that wholesale inflation peaked in March, according to Jack Ablin, chief investment officer at Cresset Capital Management.

But economists said the data won’t keep the Federal Reserve from raising its key interest rate on Wednesday by a larger-than-usual amount. Investors are now mostly expecting the biggest increase since 1994, a hike of three-quarters of a percentage point, or triple the usual amount.

A week ago, such a mega-increase was seen as only a remote possibility, if one at all. But a market-bludgeoning report Friday on inflation at the consumer level has seemingly pinned the Fed into getting more aggressive. It showed inflation for the consumer price index got worse in May, instead of slowing as hoped.

“It’s really a split decision in terms of the market as to whether that will be a good thing or a bad thing,” Nixon said of a big rate increase. “It certainly opens the door to additional big hikes in the future.”

Treasury yields continued to climb, with the two-year yield touching its highest level since November 2007, before the financial crisis, according to Tradeweb. The 10-year yield during the day reached its higher

They also had a relatively reliable warning signal of recession in the bond market flashing on and off. In afternoon trading, the yield on the 10-year Treasury had climbed back above the two-year yield, at 3.47% versus 3.41%. That’s typically how things look in the bond market.

In the unusual circumstances where the two-year yield tops the 10-year yield, some investors see it as a sign that a recession may be hitting in about a year or two. It’s called an “inverted yield curve,” and it briefly flashed earlier in the day.

On Wall Street, Oracle soared 10.4% after it reported stronger revenue and earnings for its latest quarter than analysts expected. FedEx jumped 14.4% after it boosted its dividend payout by more than 50%.

It was the first trading for U.S. stocks after the S&P 500 closed Monday at 21.8% below its record set early this year. That put it in a bear market, which is what investors call a drop of 20% or more.

At the center of the sell-off is the Federal Reserve’s effort to control inflation by raising interest rates. The Fed is scrambling to get prices under control and its main method is to raise rates, but that is a blunt tool that could slow the economy too much and cause a recession.

“The real calm in today’s market is driven very significantly by the focus on this week’s Fed decision.” said Greg Bassuk, CEO of AXS Investments. “Today’s is either the calm before the storm or the calm that will hopefully represent an extended period of calm.”

Other central banks worldwide, including the Bank of England, have been raising rates as well, while the European Central Bank said it will do so next month and in September.

The war in Ukraine is sending oil and food prices sharply higher, fueling inflation and sapping consumer spending, especially in Europe. COVID infections in China, meanwhile, have led to some tough, business-slowing restrictions that threaten to restrain the world’s second-largest economy and worsen snarled supply chains.

The shift toward higher rates has reversed the spectacular rise for markets spurred by massive support from central banks after the pandemic hit in early 2020. The S&P 500 more than doubled from late March 2020 through its peak in January. It was the shortest bull market on record going back to 1929, which followed the shortest bear market on record, according to S&P Dow Jones Indices.

Higher rates typically make investors less willing to pay high prices for risky investments. That’s why some of the biggest stars of the earlier low-rate era have been some of the worst hit in this year’s rout, including bitcoin and high-growth technology stocks. Netflix is down more than 70% in 2022.

*Market watch

ASX futures down 46 points or 0.7% to 6631 at 6.42am AEST*

Most stocks on Wall Street dipped Tuesday in their first trading after tumbling into a bear market on worries that high inflation will push central banks to clamp the brakes too hard on the economy.

The Dow Jones Industrial Average fell 151.91 points, or 0.5%, to 30,364.83. The Nasdaq composite rose 19.12, or 0.2%, to 10,828.35 after swinging between a a loss of 0.7% and a gain of 1.1%.

Australian dollar -0.7% to 68.72 US cents at 6.53am AEST

Wall Street: S&P 500 -0.4%, Dow Jones -0.5%, Nasdaq +0.2%

Europe: Stoxx 50 -0.8%, FTSE -0.3%, DAX -0.9%, CAC -1.2%

Bitcoin -5.5% to $US21,969.12 on Bitstamp at 6.54am AEST

Spot gold -0.5% to $US1809.44 per ounce at 6.54am AEST

Brent crude -1.1% to $US120.93 at 6.43am AEST

US oil -1.7% to $US118.83 a barrel at 6.43am AEST

Iron ore -0.2% to $US140.09 per tonne (Tianjin)

10-year yield: US 3.47% Australia 3.95% Germany +1.74%


----------



## bigdog

Asian shares gain after Fed assurance on rates lifts Wall St
					

TOKYO (AP) — Asian shares advanced Thursday after the Federal Reserve raised its key interest rate by three-quarters of a point  and signaled more rate hikes were coming to fight inflation.




					apnews.com
				




Wall Street rallies in relief after Fed’s assurance on rates​By STAN CHOE

NEW YORK (AP) — Wall Street rallied Wednesday following the Federal Reserve’s sharpest hike to interest rates since 1994, and its later assurance that such mega-hikes would not be common.

The S&P 500 climbed 54.51, or 1.5%, to 3,789.99 after whipping through roller-coaster trading immediately following the Fed’s latest move to fight inflation.

In equally topsy-turvy trading, Treasury yields eased in the bond market after Chair Jerome Powell seemed to soothe the market’s fears about an overly aggressive Fed by implying more modest rate increases may be coming later this year.

The Dow Jones Industrial Average swung between a gain of 647 points and a loss of nearly 180 before finishing with a gain of 303.70. It closed at 30,668.53, up 1%. The Nasdaq composite jumped 270.81, or 2.5%, to 11,099.15.

The market’s ebullience was a sharp turnaround from the worldwide rout that has dominated much of this year, which forced the S&P 500 into a bear market earlier this week. The fear has been that high inflation will push the Fed and other central banks to clamp the brakes too hard on the economy and create a recession. Wednesday’s gain was the first for the S&P 500 in six days.

Some analysts cautioned the rally could be short-lived given how deeply and broadly high inflation has seeped into the economy and how unsettlingly uncertain the future path is.

“Chair Powell painted as rosy a picture as could be painted, and to achieve that picture that he is laying out, that pathway, a lot has to go right,” said Yung-Yu Ma, chief investment strategist at BMO Wealth Management. “It’s a challenging path, and he acknowledged that.”

The Fed on Wednesday hiked its key short-term interest rate by three-quarters of a percentage point, triple the usual move. Powell said the Fed may consider another increase that big at its next meeting in July, but he also said such a hike is “an unusually large one” and not to expect it to be common.

The Fed is “not trying to induce a recession now, let’s be clear about that,” Powell said. He said Wednesday’s big increase was about the Fed speeding up the move to get interest rates back to normal, calling it “front-end loading.”

“He’s making it extremely clear to the market, to U.S. consumers, that the Fed takes this seriously and is doing whatever it takes to take inflation down and maintain price stability,” said Quincy Krosby, chief equity strategist for LPL Financial.

All kinds of investments, from bonds to bitcoin, have tumbled this year as high inflation forces central banks to swiftly remove supports propped underneath markets early in the pandemic.

Even if central banks pull off the delicate trick of slowing the economy just enough to stamp out inflation, without a recession, higher interest rates push down on prices for investments regardless. The hardest-hit have been the investments that soared the most in the easy-money era of ultralow interest rates, including high-growth technology stocks and cryptocurrencies.

Treasury yields this week shot to their highest levels in more than a decade on expectations for a more aggressive Fed, though they eased Wednesday following Powell’s comments. A disappointing report showing that sales at U.S. retailers unexpectedly slumped in May from April contributed.

The economy is still largely holding up amid a red-hot job market, but it has shown some signs of distress recently.

The two-year Treasury yield fell to 3.21% from 3.45% late Tuesday, with the biggest move happening after Powell said 0.75 percentage point rate hikes wouldn’t be common. The yield on the 10-year Treasury pulled back to 3.28% from 3.48%.

“The bond market right now is driving the broader market and that will continue,” said Jay Hatfield, CEO of Infrastructure Capital Advisors.

Cryptocurrency prices continued to sink, and bitcoin dropped as low as $20,087.90, nearly 71% below its record of $68,990.90 set late last year. It was down nearly 1% at $21,770 in afternoon trading, according to CoinDesk.

Powell said Wednesday the Fed is moving “expeditiously” to get rates closer to normal levels after last week’s stunning report that showed inflation at the consumer level unexpectedly accelerated last month. It dashed hopes on Wall Street that inflation may have already peaked.

More bad news came with a report on consumer sentiment showing households’ expectations for future inflation were rising, which could spark a vicious cycle that worsens it.

The war in Ukraine has helped send prices for oil soaring because the region is a major producer of energy. COVID infections in China, meanwhile, have led to the closure of factories and disrupted supply chains. It all helped pull the S&P 500 down more than 20% from its record set in early January, putting Wall Street into what investors call a bear market.

Many of those concerns are still around, which will likely keep markets volatile.

“Nothing has gone away, nothing looks like it is meaningfully closer to the end game,” said Ma of BMO Wealth Management. “It still seems like everything is at best highly uncertain.”

Stocks nevertheless also rose in Europe and parts of Asia Wednesday.

Germany’s DAX returned 1.4% after the European Central Bank called an unscheduled meeting to address worries that rising interest rates will cause turmoil in the continent’s bond market. The central bank did not give a detailed plan, but it said it would act if needed against “fragmentation” as yields for some European countries’ bonds rise much more than for others.

Stocks in Shanghai gained 0.5% after government data showed Chinese factory activity rebounded in May as anti-virus controls that shut down businesses in Shanghai and other industrial centers eased.

*Market watch*
ASX futures up 24 points or 0.4% to 6518 at 6.53am AEST

Wall Street rallied Wednesday following the Federal Reserve’s sharpest hike to interest rates since 1994, and its later assurance that such mega-hikes would not be common.

The S&P 500 climbed 54.51, or 1.5%, to 3,789.99 after whipping through roller-coaster trading immediately following the Fed’s latest move to fight inflation. 

The Dow Jones Industrial Average swung between a gain of 647 points and a loss of nearly 180 before finishing with a gain of 303.70. It closed at 30,668.53, up 1%. The Nasdaq composite jumped 270.81, or 2.5%, to 11,099.15.


Australian dollar +1.9% to 70.04 US cents at 6.57am AEST

Wall Street: S&P 500 +1.5%, Dow Jones +1%, Nasdaq +2.50%

Europe: Stoxx 50 +1.6%, FTSE +1.2%, DAX +1.4%, CAC +1.4%

Bitcoin -1.6% to $US21,694.75 on Bitstamp at 7.01am AEST

Spot gold -0.5% to $US1809.44 per ounce at 6.54am AEST

Brent crude -2.6% to $US118.82 at 6.50am AEST

US oil -1.9% to $US115.82 a barrel at 6.50am AEST

Iron ore -2.1% to $US137.17 per tonne (Tianjin)

10-year yield: US 3.28% Australia 4.19% Germany +1.63%


----------



## bigdog

Asian stocks follow Wall St lower on economy fears
					

BEIJING (AP) — Asian stock markets were mostly lower Friday after Wall Street fell on fears interest rate hikes will depress global economic activity. Tokyo, Seoul and Sydney fell. Shanghai and Hong Kong advanced.




					apnews.com
				




Wall Street tumbles on fears for economy as more rates rise​By STAN CHOE

NEW YORK (AP) — Stocks tumbled on Wall Street Thursday as worries roared back to the fore that the world’s fragile economy may buckle under higher interest rates.

The S&P 500 fell 3.3% in a widespread rout to more than reverse its blip of a 1.5% rally from a day before. Analysts had warned of more big swings given deep uncertainties about whether the Federal Reserve and other central banks can tiptoe the narrow path of hiking interest rates enough to get inflation under control but not so much that they cause a recession.

The Dow Jones Industrial Average lost 2.4% and was briefly down more than 900 points, while the Nasdaq composite sank 4.1%. It was the sixth loss for the S&P 500 in its last seven tries, and all but 3% of the stocks in the index dropped.

Wall Street fell with stocks across Europe after central banks there followed up on the Federal Reserve’s big interest-rate hike on Wednesday. The Bank of England raised its key rate for the fifth time since December, though it opted for a more modest increase of 0.25 percentage points than the 0.75-point hammer brought by the Fed.

Switzerland’s central bank, meanwhile, raised rates for the first time in years, a half-point hike. Taiwan’s central bank raised its key rate by an eighth of a point. Japan’s central bank began a two-day meeting, though it’s held out on raising rates and making other economy-slowing moves that investors call “hawkish.”
https://apnews.com/article/congress...gun-violence-750c7300a713085e3c897ec9cc1421ee
Such moves and expectations for plenty more have sent investments tumbling this year, from bonds to bitcoin. Higher interest rates slow the economy by design, in hopes of stamping out inflation. But they’re a blunt tool that can choke off the economy if used too aggressively.

“Another concern is that with the change in policy, there’s been weakening economic data already,” said Bill Northey, senior investment director at U.S. Bank Wealth Management. “That raises the odds of a recession in the latter part of 2022 into 2023.”

President Joe Biden told The Associated Press on Thursday that he saw reasons for optimism about the economy and that a recession is “not inevitable.”

The worries dragged the S&P 500 into a bear market earlier this week, meaning it had dropped more than 20% from its peak. It’s now 23.6% below its record set early this year and back to where it was in late 2020. That effectively erases 2021, which was one of the best years for Wall Street since the turn of the millennium.

The S&P 500 fell 123.22 points to 3,666.77. The Dow lost 741.46 to 29,927.07, and the Nasdaq dropped 453.06 to 10,646.10. Thursday’s biggest losses hit the stocks of the smallest companies, a signal of pessimism about the economy’s strength. The Russell 2000 index of smaller stocks sank 81.30, or 4.7%, to 1,649.84.

Not only is the Federal Reserve hiking short-term rates, it also this month began allowing some of the trillions of dollars of bonds it purchased through the pandemic to roll off its balance sheet. That should put upward pressure on longer-term interest rates. It’s another way central banks have been ripping away supports they earlier propped underneath markets to juice the economy.

The U.S. economy is still holding up, driven in particular by a strong jobs market. Fewer workers filed for unemployment benefits last week than a week before, a report showed on Thursday. But more signs of trouble have been emerging.

On Thursday, one report showed homebuilders broke ground on fewer homes last month. Rising mortgage rates resulting directly from the Fed’s moves are digging into the industry. A separate reading on manufacturing in the mid-Atlantic region also unexpectedly fell.

“Corporate earnings estimates have not yet changed to reflect some of the softening economic data and that could lead to the second leg of this repricing,” Northey said.

Treasury yields swung sharply on Thursday, with the 10-year yield down to 3.23% from 3.39% late Wednesday. It had climbed as high as 3.48% in the morning, near its highest level since 2011.

Higher rates have been delivering the hardest hits this year to the investments that soared the most through the easy, ultralow rates of earlier in the pandemic, which now look to be among the most expensive and risky investments. That includes bitcoin and high-growth technology stocks.

Big Tech stocks were among the heaviest weights on the market Thursday, but the sharpest losses hit stocks whose profits depend more on the strength of the economy and whether customers can keep up their purchases amid the highest inflation in decades.

Cruise operators Norwegian Cruise Line Holdings, Royal Caribbean Group and Carnival all lost more than 11%.

It’s all a sharp turnaround from a day earlier, when stocks rallied immediately after the Fed’s biggest hike to rates since 1994. Analysts said investors seemed to latch onto a comment from Fed Chair Jerome Powell, who said mega-hikes of three-quarters of a percentage point would not be common.

Powell said Wednesday the Fed is moving “expeditiously” to get rates closer to normal levels after last week’s stunning report that showed inflation at the consumer level unexpectedly accelerated last month, which dashed hopes that inflation may have already peaked.

The Fed is “not trying to induce a recession now, let’s be clear about that,” Powell said. He called Wednesday’s big increase “front-end loading.”

“Despite their assurance, it’s unclear to me whether the Fed has the tools they say they do to tamp down prices,” said Jason Brady, CEO of Thornburg Investment Management. He also said that even after its mega-hike on Wednesday, which was triple the usual amount, “the Fed is still behind.”

*Market watch*

ASX futures down 127 points or 2% to 6333 at 6.46am AEST

Stocks tumbled on Wall Street Thursday as worries roared back to the fore that the world’s fragile economy may buckle under higher interest rates.

The S&P 500 fell 3.3% in a widespread rout to more than reverse its blip of a 1.5% rally from a day before. Analysts had warned of more big swings given deep uncertainties about whether the Federal Reserve and other central banks can tiptoe the narrow path of hiking interest rates enough to get inflation under control but not so much that they cause a recession.

The Dow Jones Industrial Average lost 2.4% and was briefly down more than 900 points, while the Nasdaq composite sank 4.1%. It was the sixth loss for the S&P 500 in its last seven tries, and all but 3% of the stocks in the index dropped.

Australian dollar +0.6% to 70.46 US cents at 6.53am AEST
Wall Street: S&P 500 -3.3%, Dow Jones -2.4%, Nasdaq -4.1%
Europe: Stoxx 50 -3%, FTSE -3.1%, DAX -3.3%, CAC -2.4%
Bitcoin -4.9% to $US20,665.43 on Bitstamp at 6.54am AEST
Spot gold +1.3% to $US1857.04 per ounce at 6.50am AEST
Brent crude +0.6% to $US119.25 at 6.39am AEST
US oil +1.5% to $US117.04 a barrel at 6.39am AEST
Iron ore +0.5% to $US137.85 per tonne (Tianjin)
10-year yield: US 3.18% Australia 3.99% Germany +1.71%


----------



## bigdog

*U.S. markets will be closed Monday in observance of the Juneteenth holiday.*









						Wall Street closes worst week since 2020 with slight gain
					

NEW YORK (AP) — Wall Street closed out its most punishing week since the 2020 coronavirus crash with a meandering day of trading Friday that left it a bit higher.  The S&P 500 rose 8.07 points, or 0.2%, to 3,674.84 after waffling between modest losses and gains for most of the day.




					apnews.com
				




Wall Street closes worst week since 2020 with slight gain​By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — Wall Street closed out its most punishing week since the 2020 coronavirus crash with a meandering day of trading Friday that left it a bit higher.

The S&P 500 rose 8.07 points, or 0.2%, to 3,674.84 after waffling between modest losses and gains for most of the day. The Dow Jones Industrial Average dipped 38.29, or 0.1%, to 29,888.78, while the Nasdaq composite climbed 152.25, or 1.4%, to 10,798.35.

The relatively quiet trading capped a brutal, tumultuous week for Wall Street. The S&P 500 lost 5.8% for its tenth drop in the last 11 weeks. That’s its worst week since March 2020, when stocks were in free-fall as the global economy suddenly shut down at the onset of the pandemic.

Markets around the world have been shuddering as investors adjust to the bitter medicine of higher interest rates that the Federal Reserve and other central banks are increasingly doling out. Higher rates can bring down inflation, but they also risk a recession by slowing the economy and push down on prices for stocks, bonds, cryptocurrencies and other investments.

“Any lack of clarity or lack of confidence in the Federal Reserve is going to create a lot of volatility in the market,” said Megan Horneman, chief investment officer at Verdence Capital Advisors.

The S&P 500 remains in a bear market after it earlier this week dropped more than 20% below its record. It’s now 23.4% below its all-time high set in January and is back to where it was in late 2020.

“There’s a lot of uncertainty right now about the timing of a recession, but the risks are clearly rising,” Horneman said.

On Wednesday, the Fed hiked its key short-term interest rate by triple the usual amount for its biggest increase since 1994. It could consider another such mega-hike at its next meeting in July, but Fed Chair Jerome Powell said increases of three-quarters of a percentage point would not be common.

The Fed has also just begun allowing some of the trillions of dollars of bonds it purchased through the pandemic to roll off its balance sheet. That should put upward pressure on longer-term interest rates and is another way central banks are yanking supports earlier propped underneath markets to bolster the economy.

The Fed’s moves are happening as some discouraging signals have emerged about the economy, even if the jobs market remains solid. The latest was a report on Friday showing the nation’s industrial production was weaker last month than expected. Other disappointing data, including sagging spending at retailers and soured consumer sentiment, have raised concerns the Fed’s actions could wind up being too aggressive.

Powell will testify before Congress this upcoming week on monetary policy, and what he says is sure to guide trading. The testimony is scheduled for Wednesday and Thursday, which could mean more steep swings for Wall Street.

In the six days since a game-changing report showed U.S. inflation is accelerating, not easing as investors had hoped, the S&P 500 has had three days where it tumbled at least 2.9%. That’s happened only five other times total in the last year.

For Friday at least, trading was calm as Treasury yields eased further from their highest levels in more than a decade and a measure of nervousness on Wall Street sank.

The yield on the 10-year Treasury pulled back to 3.23% from 3.30% late Thursday and from a peak of nearly 3.50% earlier in the week.

Higher yields have been pounding all kinds of investments this year, but the harshest pain has hit cryptocurrencies, high-growth technology stocks and others that flew the highest in the earlier, easier days of ultralow rates.

Gains for technology stocks on Friday helped the Nasdaq lead the market. Amazon climbed 2.5%, and Nvidia rose 1.8%.

Other stocks hit particularly hard Thursday on worries about a possible recession and inflation overwhelming consumers also bounced back. Norwegian Cruise Line rose 10.1%, and American Airlines Group gained 6.4%. Both were still down more than 12% for the week, though.

Stocks of smaller companies, which tend to move more with expectations for the strength of the U.S. economy, also did better than the rest of the market. The Russell 2000 index of smaller stocks rose 15,86, or 1%, to 1,665.69. But it also was still down much more for the week at 7.5% than the broader market.

U.S. markets will be closed Monday in observance of the Juneteenth holiday.


----------



## bigdog

*U.S. markets will be closed Monday in observance of the Juneteenth holiday.

Market watch*

The Australian share market looks set to start the week in the red following a mixed night on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 19 points or 0.3% lower this morning. On Wall Street, the Dow Jones was down 0.1%, the S&P 500 was up 0.2%, and the Nasdaq jumped 1.4%.

Australian dollar -0.3% to 69.14 US cents at 6.41am AEST

Wall Street: S&P 500 +0.2%, Dow Jones -0.1%, Nasdaq +1.4%

Europe: Stoxx 50 +0.3%, FTSE -0.4%, DAX +0.7%, CAC -0.1%

Bitcoin at $US20,490.26 on Bitstamp at 6.43am AEST

Spot gold -1% to $US1839.39 per ounce on Saturday

Brent crude -5.6% to $US113.12 on Saturday

US oil -6.8% to $US109.56 a barrel at 6.39am AEST

Iron ore -1.6% to $US135.69 per tonne (Tianjin)

10-year yield: US 3.23% Australia 4.13% Germany +1.65%


----------



## bigdog

*U.S. markets were closed Monday in observance of the Juneteenth holiday.*









						World shares mixed; bitcoin holds steady near $20,000
					

TOKYO (AP) — European benchmarks were higher Monday after most Asian markets retreated, while the price of bitcoin hovered near $20,000.  U.S. futures advanced and oil prices fell back early Monday.




					apnews.com
				




World shares mixed; bitcoin holds steady near $20,000​By YURI KAGEYAMA

TOKYO (AP) — European benchmarks were higher Monday after most Asian markets retreated, while the price of bitcoin hovered near $20,000.

U.S. futures advanced and oil prices fell back early Monday.

The price of the world’s most popular cryptocurrency remained near the psychological benchmark of $20,000 after bouncing during the weekend. At one point, bitcoin plunged nearly 10% to under $18,600, according to the cryptocurrency news site CoinDesk.

As of 0500 ET (0900 GMT) Monday, it was at $20,650.56.

France’s CAC 40 gained 0.2% to 5,893.20. Germany’s DAX added 0.2% to 13,150.16. Britain’s FTSE 100 rose 0.5% to 7,049.87. U.S. markets are closed Monday for the Juneteenth holiday. The future for the Dow industrials was up 0.4% while that for the S&P 500 gained 0.5%.

As expected, China kept its 1-year and 5-year loan prime rates unchanged.

Given China’s struggle to bring outbreaks under control and its already faltering economy, “rate cuts in the coming months are still likely as we expect the economic recovery to be slow under the COVID-zero policy. After this rate pause, the government should hand out more fiscal stimulus,” Iris Pang, chief economist Greater China at ING, said in a commentary.

Japan’s benchmark Nikkei 225 slid 0.7% to finish at 25,771.22. Australia’s S&P/ASX 200 slipped 0.6% to 6,433.40. South Korea’s Kospi dropped 2.0% to 2,391.03. Hong Kong’s Hang Seng edged up 0.4% to 21,163.91, while the Shanghai Composite was little changed, inching down less than 0.1% to 3,315.43.

Two of the world’s three biggest economies, China and Japan, are not engaged in raising interest rates, unlike the U.S. Federal Reserve and central banks in many other countries. Worries that the global economy might slip into recession if planners push ahead too aggressively with interest rate hikes and other moves to tighten monetary policy have caused markets to backtrack after share prices soared thanks to massive support during the pandemic.

Last week, Japan’s central bank stuck to its near zero interest rate policy despite concerns over the weakening yen. 

The U.S. dollar was trading at 134.76 Japanese yen, down from 135 yen late Friday. The euro cost $1.0525, up from $1.0489.

Testimony on monetary policy by Federal Reserve Chair Jerome Powell before the Senate Banking Committee and the House Financial Services Panel is set for later this week.

Markets are bracing for a world with higher interest rates, led by the moves by the Federal Reserve. Higher rates can bring down inflation, but they also risk a bringing on a recession by slowing the economy. They also tend to hurt prices for stocks, cryptocurrencies and other investments.

Last week, the Fed hiked its key short-term interest rate by triple the usual amount for its biggest increase since 1994. It could consider another such mega-hike at its next meeting in July. A report last week on the U.S. economy also showed that industrial production was weaker last month than expected.

In energy trading, benchmark U.S. crude lost 42 cents to $109.14 a barrel in electronic trading on the New York Mercantile Exchange. It plunged $7.26 to $107.99 a barrel on Friday. Brent crude, the international standard, fell $1.35 to $111.77 a barrel.

*U.S. markets were closed Monday in observance of the Juneteenth holiday.*





*REST OF WORLD TRADING









Market watch*
ASX futures up 45 points or 0.7% to 6386 at 6.20am AEST

Australian dollar +0.3% to 69.52 US cents at 6.38am AEST

Wall Street closed

Europe: Stoxx 50 +0.9%, FTSE +1.5%, DAX +1.1%, CAC +0.6%

Bitcoin -0.6% to $US20,301.06 on Bitstamp at 6.41am AEST

Spot gold -1% to $US1839.39 per ounce on Saturday

Brent crude +0.9% to $US114.13 at 3.29am AEST

US oil +0.7% to $US110.27 a barrel at 4.10am AEST

Iron ore last traded at $US135.69 per tonne (Tianjin)

 10-year yield: US 3.23% Australia 4.06% Germany +1.74%


----------



## bigdog

Asian shares mostly lower despite Wall St rally; eyes on Fed
					

TOKYO (AP) — Asian shares were mostly lower Wednesday as markets shrugged off a Wall Street rally and awaited congressional testimony by Federal Reserve Chair Jerome Powell.  Japan’s benchmark Nikkei 225 shed 0.2% to 26,206.68.




					apnews.com
				




Wall Street ends broadly higher after sharp losses last week​By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Stocks finished broadly higher on Wall Street Tuesday, clawing back some of the ground they lost in their worst weekly drop since the beginning of the pandemic.

The rally to start the holiday-shortened week came as investors look ahead to what Federal Reserve Chair Jerome Powell will tell Congress on Wednesday, the first of two days of testimony as part of the central bank’s semi-annual monetary policy report. Last week, the Fed hiked its key short-term interest rate by the most since 1994, the central bank’s latest effort to tame the worst inflation in 40 years.

The S&P 500 rose 2.4%, recouping about 40% of its losses last week. More than 85% of the stocks in the benchmark index gained ground. The Dow Jones Industrial Average rose 2.1% and the Nasdaq climbed 2.5%.

“This is a little more of an oversold bounce that the market is looking at and trying to figure out what is the path the Federal Reserve is actually going to navigate,” said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management.

Technology stocks had some of the strongest gains. Apple rose 3.3% and Microsoft rose 2.5%.

Retailers, health care companies and banks also made solid gains. Kellogg rose 2% after the maker of Frosted Flakes and Rice Krispies said it would split into three companies. Spirit Airlines jumped 7.9% after JetBlue sweetened its buyout offer for the budget airline.

European markets ended mostly higher, while Asian markets closed mixed overnight. The yield on the 10-year Treasury rose to 3.30% from 3.23% late Friday. Markets were closed Monday for the observation of Juneteenth.

All told, the S&P 500 rose 89.95 points to 3,764.79. The index remains stuck in a slump, though, along with every other major index, and is still down 21.5% from the record high it set in January. It’s posted a weekly loss in 10 out of the last 11 weeks.

The Dow rose 641.47 points to 30,530.25, while the Nasdaq added 270.95 points to 11,069.30.

Smaller company stocks also gained ground. The Russell 2000 rose 28.34 points, or 1.8%, to 1,694.03.

Stocks have been mostly sliding in recent weeks as investors adjust to higher interest rates that the Federal Reserve and other central banks are increasingly doling out. The aggressive rate hikes are part of a plan to temper record-high inflation, but investors are worried that the Fed risks slowing economic growth too much and bringing on a recession.

The worries over inflation and interest rates have been worsened by a spike in energy prices following Russia’s invasion of Ukraine. The price of U.S. crude oil rose 1% to settle at $110.65 per barrel Tuesday. It’s up about 52% for the year. That has taken a bigger bite out of people’s wallets at the gas pump and is prompting a slowdown in spending elsewhere.

The lingering list of worries has made for an extremely turbulent market. Daily swings between gains and losses has been common and major indexes have sometimes shifted between sharp gains and losses on an hourly basis.

“In these kinds of markets, you just get bigger volatility in both directions,” said Ross Mayfield, investment strategist at Baird. “The entire market is being shaped by the Fed and inflation numbers.”

Last week, the Fed hiked its key short-term interest rate by triple the usual amount. It has also just begun allowing some of the trillions of dollars of bonds it purchased through the pandemic to roll off its balance sheet. That should put upward pressure on longer-term interest rates and is another way central banks are yanking supports earlier propped underneath markets to bolster the economy.

The Fed’s moves are happening as some discouraging signals have emerged about the economy, including sagging spending at retailers and soured consumer sentiment. The National Association of Realtors on Tuesday reported that sales of previously occupied U.S. homes slowed for the fourth consecutive month. The housing market, a crucial part of the economy, is slowing as homebuyers face record high prices and sharply higher home financing costs than a year ago following a rapid rise in mortgage rates.

Wall Street will be closely listening for clues about the Fed’s plans for possible additional rate hikes when Powell speaks before Congress this week. The central bank could consider another such mega-hike at its next meeting in July, but Powell has said increases of three-quarters of a percentage point would not be common.

*Market watch*

ASX futures up 44 points, or 0.7% to 6459 at 6.41am AEST

Stocks finished broadly higher on Wall Street Tuesday, clawing back some of the ground they lost in their worst weekly drop since the beginning of the pandemic.

The S&P 500 rose 2.4%, recouping about 40% of its losses last week. More than 85% of the stocks in the benchmark index gained ground. The Dow Jones Industrial Average rose 2.1% and the Nasdaq climbed 2.5%.

Australian dollar +0.3% to 69.71 US cents at 6.51am AEST

Wall Street S&P 500 +2.5%, Dow Jones +2,2%, Nasdaq +2.5%

Europe: Stoxx 50 +0.7%, FTSE +0.4%, DAX +0.2%, CAC +0.8%

Bitcoin +2% to $US20,819.04 on Bitstamp at 6.55am AEST

Spot gold -0.3% to $US1833.23 per ounce at 6.51am AEST

Brent crude +0.7% to $US114.93 at 6.38am AEST

US oil +1% to $US110.65 a barrel at 4.29am AEST

Iron ore -1.6% to $US133.47 per tonne (Tianjin)

10-year yield: US 3.28% Australia 4.06% Germany +1.76%


----------



## bigdog

Asian stocks mixed after Wall St declines on growth worries
					

BEIJING (AP) — Asian stock markets were mixed Thursday after Wall Street edged lower amid fears higher interest rates will chill global economic growth. Shanghai and Hong Kong advanced, while Tokyo and Seoul declined.




					apnews.com
				




US stocks give up afternoon gains and end slightly lower​By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — A choppy day of trading on Wall Street ended with a modest pullback for stocks Wednesday, the latest bout of volatility for the market amid concerns about inflation and uncertainty over whether rising interest rates will help or hinder the economy.

The indexes were on pace for a modest gain before slipping into the red in the final minutes of trading. The S&P 500 dropped 0.1%, with the stocks in the benchmark index about evenly split between gainers and decliners. The Dow Jones Industrial Average gave up 0.2% and the Nasdaq fell 0.1%.

Energy companies helped pull the market lower after the price of U.S. crude oil fell 4%. Technology companies also lost ground, which helped keep gains in health care, real estate and other sectors in check.

Investors closely watched testimony to Congress from Federal Reserve Chair Jerome Powell. He reaffirmed the central bank’s determination to raise interest rates and slow inflation.

The choppy trading followed a solid rally on Tuesday in what has been a turbulent period for the broader market, with daily and sometimes hourly swings from sharp gains to losses. The benchmark S&P 500 is currently in a bear market, which means it has dropped more than 20% from its most recent high, which was in January. It has also fallen in 10 of the last 11 weeks, but is holding on to gains so far for this week

Much of the market’s decline has been tied to concerns about rising inflation and the Federal Reserve’s plan to aggressively raise interest rates in order to temper inflation’s impact on consumers and businesses.

“There have been some new hurdles put in front of us,” said Sylvia Jablonski, chief investment officer at Defiance ETFs. As a result, she said, many investors are “sitting on the sidelines.”

The S&P 500 fell 4.90 points to 3,759.89. The index bounced between a gain of 1% and a loss of 1.3% throughout the day.

The Dow dropped 47.12 points to 30,483.13, while the tech-heavy Nasdaq slipped 16.22 points to 11,053.08.

Smaller company stocks also fell moderately. The Russell 2000 index slid 3.75 points, or 0.2%, to 1,690.28.

Bond yields mostly fell. The yield on the 10-year Treasury note, which helps set mortgage rates, fell to 3.16% from 3.30% late Tuesday. Markets in Europe and Asia also fell.

On Wednesday, Powell underscored the Fed’s determination to raise interest rates high enough to slow inflation, a commitment that has fanned concerns that the central bank’s fight against surging prices could tip the economy into recession. Powell is addressing Congress this week, starting with the Senate Banking Committee on Wednesday.

“We’re not trying to provoke and don’t think that we will need to provoke a recession,” Powell said. “But we do think it’s absolutely essential that we restore price stability, really for the benefit of the labor market as much as anything else.”

Powell’s testimony came a week after the Fed raised its benchmark interest rate by three quarters of a percentage point, its biggest hike in nearly three decades. With inflation worsening, the Fed’s policymakers also forecast a more accelerated pace of rate hikes this year and next than they had predicted three months ago, with its key rate reaching 3.8% by the end of 2023. That would be its highest level in 15 years.

The Fed’s moves are happening as some discouraging signals have emerged about the economy, including sagging spending at retailers and soured consumer sentiment. The worries over inflation and interest rates have been worsened by a spike in energy and other key commodity prices following Russia’s invasion of Ukraine.

Record high gas prices have been taking a bigger bite out of consumers’ wallets and prompting a slowdown in spending elsewhere. That has prompted President Joe Biden to call on Congress to suspend federal gasoline and diesel taxes for three months, a move meant to ease financial pressures at the pump.

Inflation is at a four-decade high in the U.S. and has been prompting businesses to raise prices on everything from food to clothing. Consumer spending remained strong through most of the pandemic, but has been falling amid tighter pressure from inflation. Inflation is hitting records globally. Britain’s inflation reached a 40-year high of 9.1% in the 12 months to May.

Wall Street remains concerned about the Fed’s aggressive policy raising the risk of a recession, but Powell said another risk involves high inflation becoming entrenched in the economy if the central bank doesn’t take appropriate steps.

“We cannot fail on that task,” he said. “We have to get back to 2% inflation.”

*Market watch*






A choppy day of trading on Wall Street ended with a modest pullback for stocks Wednesday, the latest bout of volatility for the market amid concerns about inflation and uncertainty over whether rising interest rates will help or hinder the economy.

The indexes were on pace for a modest gain before slipping into the red in the final minutes of trading. The S&P 500 dropped 0.1%, with the stocks in the benchmark index about evenly split between gainers and decliners. The Dow Jones Industrial Average gave up 0.2% and the Nasdaq fell 0.1%.


----------



## bigdog

Asian shares gain, tracking Wall Street advance
					

BANGKOK (AP) — Shares were higher in Asia on Friday, tracking gains on Wall Street, where the market is headed for its first weekly gain after three weeks of punishing losses.  Tokyo's Nikkei 225 index added 0.9% to 26,411.64 and the Kospi in Seoul jumped 1.8% to 2,356.38.




					apnews.com
				




Wall Street shakes off a midday stumble and ends higher​By DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Stocks shook off a midday slump and ended higher Thursday, keeping the market on track for its first weekly gain after three weeks of punishing losses.

Trading was wobbly throughout the day as investors remained focused on another round of testimony before Congress by Federal Reserve Chair Jerome Powell. Speaking before a House committee, Powell again stressed that the Fed hopes to rein in the worst inflation in four decades without knocking the economy into a recession, but acknowledged “that path has gotten more and more challenging.”

The S&P 500 ended 1% higher after having been down as much as 0.4%. The Dow Jones Industrial Average rose 0.6% and the Nasdaq gained 1.6%.

Technology and health care stocks drove much of the rally, outweighing losses in energy and financial companies. Bond yields mostly fell. Oil prices also fell.

Trading has been turbulent in recent weeks as investors try to determine whether a recession is looming. The benchmark S&P 500 is currently in a bear market. That means it has dropped more than 20% from its most recent high, which was in January. The index has fallen for 10 of the last 11 weeks.

“The market was poised for a bounce,” said Quincy Krosby, chief equity strategist for LPL Financial. “The catalyst for today’s market has been that oil prices have come down.”

The S&P 500 rose 35.84 points to 3,795.73. The index is up 3.3% so far this week. The Dow gained 194.23 points to 30,677.36. The Nasdaq added 179.11 points to 11,232.19.

Smaller company stocks also gained ground. The Russell 2000 rose 21.40 points, or 1.3%, to 1,711.67.

The Federal Reserve is attempting to temper inflation’s impact with higher interest rates, but Wall Street is worried that it could go too far in slowing economic growth and actually bring on a recession.

Powell has previously acknowledged that a recession is ”certainly a possibility” and that the central bank is facing a more challenging task amid the war in Ukraine essentially pushing oil and other commodity prices even higher and making inflation even more pervasive.

On Thursday, Powell stressed: “I don’t think that a recession is inevitable.” He also acknowledged that the Fed’s tools to combat inflation are blunt and risk causing damage to the economy.

Encouragingly for the Fed, many households and businesses still seem to expect inflation to eventually come back down. If that were to change, it could spark a self-fulfilling vicious cycle that only worsens inflation.

“Our whole framework is about keeping inflation expectations well and truly anchored,” he said Thursday. Powell emphasized the importance of getting inflation down to the Fed’s goal of 2%. “We can’t fail on this,” he said.

Powell spoke to Congress a week after the Fed raised its benchmark interest rate by three quarters of a percentage point, its biggest hike in nearly three decades. Fed policymakers also forecast a more accelerated pace of rate hikes this year and next than they had predicted three months ago, with its key rate to reach 3.8% by the end of 2023. That would be its highest level in 15 years.

Earlier Thursday the Labor Department said fewer Americans applied for jobless benefits last week, though it was slightly more than economists expected. The solid job market is a relatively bright point in an otherwise weakening economy, with consumer sentiment and retail sales showing increasing damage from inflation.

Companies are signaling slower-than-expected growth, however, according to surveys from IHS Markit. While weak economic data is discouraging for the broader economy, it could also mean that the economy is already slowing enough to allow the Fed to ease up on its planned rate hikes.

Inflation remains stubbornly high, squeezing consumers with higher prices on everything from food to clothing. That has pressured people to shift spending from big ticket items like electronics to necessities. The pressure has been worsened by record-high gasoline prices that show no sign of abating amid a supply and demand disconnect.

Big technology and health care companies did much of the heavy lifting. Microsoft rose 2.3% and Johnson & Johnson rose 2.2%. Energy stocks fell as the price of U.S. crude oil dropped 1.8%. Valero fell 7.6%.

Bond yields fell significantly. The yield on the 10-year Treasury note, which helps set mortgage rates, fell to 3.09% from 3.15% late Wednesday.

*Market watch*





In New York, stocks shook off a midday slump and ended higher Thursday, keeping the market on track for its first weekly gain after three weeks of punishing losses

The S&P 500 ended 1% higher after having been down as much as 0.4%. The Dow Jones Industrial Average rose 0.6% and the Nasdaq gained 1.6%


----------



## bigdog

Stocks rally, driving Wall Street to a rare winning week
					

Stocks racked up more gains on Wall Street Friday, as the S&P 500 had its best day in two years and just its second winning week in the last 12 to provide a bit of relief from the market's brutal sell-off this year.




					apnews.com
				




Stocks rally, driving Wall Street to a rare winning week​By STAN CHOE and ALEX VEIGA

Stocks racked up more gains on Wall Street Friday, as the S&P 500 had its best day in two years and just its second winning week in the last 12 to provide a bit of relief from the market’s brutal sell-off this year.

The benchmark index rose 3.1%, with technology and banks leading the broad rally. The S&P 500 notched a 6.4% gain for the week, erasing the brutal loss it took a week earlier, though it’s still close to 20% below its record set early this year.

The Dow Jones Industrial Average rose 2.7% and the tech-heavy Nasdaq ended 3.3% higher. Both indexes also posted a weekly gain that more than made up for their losses last week.

Stocks rallied this week as pressure from rising Treasury yields lets up somewhat and investors speculate the Federal Reserve may not have to be as aggressive about raising interest rates as earlier thought as it fights to control inflation.

The gains are a reprieve from Wall Street’s tumble through most of the year, caused by the Fed’s and other central banks’ slamming into reverse on the tremendous support fed into markets through the pandemic. In hopes of beating down punishingly high inflation, central banks have raised interest rates and made other moves that hurt prices for investments and threaten to slow the economy enough to cause a recession. More such moves are sure to come.

“It has been a good week,” said Randy Frederick, managing director of trading & derivatives at Charles Schwab. “It’s rare. At least in 2022, we’ve had only a couple of weeks where we ended up net positive. It looks pretty similar to what we saw right around the end of May, and that one of course fizzled out.”

The S&P 500 rose 116.01 points to 3,911.74. The Dow climbed 823.32 points to 31,500.68. The Nasdaq rose 375.43 points to 11,607.62.

Smaller company stocks also rallied. The Russell 2000 rose 54.06 points, or 3.2%, to 1,765.74.

Parts of the U.S. economy are still red-hot, particularly the jobs market, but some discouraging signals have emerged recently. A report on Friday confirmed sentiment among consumers sank to its lowest point since the University of Michigan began keeping records, hurt in particular by high inflation. Another lowlight this week suggested the U.S. manufacturing and services sectors aren’t as strong as economists thought.

Such weakening data raise worries about the strength of the economy. But they also can be good for financial markets, as paradoxical as that may seem.

They could mean less upward pressure on inflation, which would ultimately mean the Federal Reserve doesn’t have to raise rates so aggressively. And interest rates drive trading for everything from stocks to cryptocurrencies.

“We have seen a cooling off in a lot of areas, certainly. Gasoline purchases are down, housing prices appear to be cooling across the board,” Frederick said. “To me all of this speaks to the fact what the Fed is doing now appears to at least be having some impact. Now, whether or not it’s sufficient to bring inflation down, I don’t think we know yet.”

One nugget in the consumer sentiment report could carry particular weight for markets. It showed consumers’ expectations for inflation over the long run moderated to 3.1% from a mid-month reading of 3.3%. That’s crucial for the Fed because expectations for higher inflation in the future can trigger buying activity that inflames inflation further in a self-fulfilling, vicious cycle.

Last week, the Fed hiked its key short-term rate by the biggest margin in decades and said another such increases could be coming, though they wouldn’t be common.

Over the last week, investors have been modestly ratcheting back their expectations for how high the Fed will hike interest rates into early next year.

That’s helped yields in the Treasury market recede. The yield on the two-year Treasury, which tends to move with expectations for the Fed’s actions, dropped back to 3.06% from more than 3.40% in the middle of last week.

The yield on the 10-year Treasury, which forms the bedrock for the world’s financial system, rose to 3.13% on Friday from 3.07% late Thursday. But it also has moderated after hitting 3.48% last week.

It started the year just a bit above 1.50%.

A separate economic report on Friday showed sales of new homes unexpectedly accelerated last month. But the trend for housing has largely been lower because it’s at the leading edge of the Fed’s hikes.

More expensive mortgage rates are hurting the industry, and a separate report earlier this week showed sales of previously occupied homes slowed last month.

Rising mortgage rates pushed LendingTree, the online marketplace that helps people find mortgages and other loans, to warn Friday that it expects to report weaker revenue for the second quarter than earlier forecast. Its stock fell 7.9%.

The vast majority of Wall Street was heading the opposite direction. More than 95% of the stocks in the S&P 500 closed higher.

Travel-related stocks were among the biggest gainers Friday. Cruise operator Carnival rose 12.4% after it reported weaker results for its most recent quarter than analysts expected, but also said that booking trends are improving. Royal Caribbean jumped 15.8% for the biggest gain in the S&P 500. United Airlines rose 7.5%, while Wynn Resorts climbed 12.1%.


----------



## bigdog

Stocks racked up more gains on Wall Street Friday, as the S&P 500 had its best day in two years and just its second winning week in the last 12 to provide a bit of relief from the market’s brutal sell-off this year.

The benchmark index rose 3.1%, with technology and banks leading the broad rally. The S&P 500 notched a 6.4% gain for the week, erasing the brutal loss it took a week earlier, though it’s still close to 20% below its record set early this year.


The Dow Jones Industrial Average rose 2.7% and the tech-heavy Nasdaq ended 3.3% higher. Both indexes also posted a weekly gain that more than made up for their losses last week.


----------



## bigdog

Asian shares track Wall St drop as inflation fears drag on
					

BANGKOK (AP) — Shares skidded in Asia on Wednesday after another broad decline on Wall Street as markets remain gripped by uncertainty over inflation, rising interest rates and the potential for a recession.




					apnews.com
				




Wall Street ends mixed after a day of wavering up and down​By DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped a wobbly day of trading with a mixed finish Monday, giving back some of the market’s gains following a rare winning week.

The S&P 500 slipped 0.3% after shifting between small gains and losses throughout the day. The Dow Jones Industrial Average slipped 0.2% and the Nasdaq fell 0.7%. Shares in small companies rose, while more stocks rose than fell on the New York Stock Exchange.

Declines in technology and communication stocks, and in several big retailers and travel-related companies, weighed on the market. Those losses checked gains in energy stocks and elsewhere.

The market’s uneven finish comes after stocks closed out last week with solid gains and the S&P 500 posted its best day in two years Friday. Stocks rallied last week as pressure from rising Treasury yields let up somewhat and investors speculated the Federal Reserve may not have to be as aggressive about raising interest rates as earlier thought as it fights to control inflation

Treasury yields rose again Monday. The rebound in stocks last week was largely seen as a reaction to a wave of selling that some market strategists say was perhaps overdone, leaving the market ripe for a rebound.

“There’s quite a bit of noise going on as we get to quarter’s end,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management.

“So, it really wasn’t surprising for us to see a bounce last week.” On the other hand, Hainlin said, “we would view that as not necessarily an indication that fundamentally things have gotten better.”

The S&P 500 fell 11.63 points to 3,900.11. The Dow dropped 62.42 points to 31,438.26, and the Nasdaq slid 83.07 points to 11,524.55.

Smaller company stocks bucked the broader market’s decline. The Russell 2000 rose 6.01 points, or 0.3%, to 1,771.74.

European markets also ended mixed. Asian markets closed higher overnight.

Technology and communication stocks were among the biggest drag on the market. Microsoft fell 1%, while Electronic Arts slid 3.5%.

Several big retailers and travel-related companies also fell. Amazon and Carnival each fell 2.085%.

Those losses checked gains elsewhere in the market, including energy stocks, which rose as the price of U.S. crude oil climbed 1.8%. Exxon Mobil rose 2.5%.

Robinhood Markets jumped 14% following a published report suggesting that cryptocurrency exchange FTX is considering buying the popular trading app company. In May, FTX CEO Samuel Bankman-Fried bought a 7.6% stake in Robinhood, according to a filing with U.S. regulators.

Robinhood shot to fame for its easy-to-use trading app, which brought a new generation of investors to the stock market, perhaps most famously with the meme-stock frenzy that sent GameStop soaring early last year. Crypto has become a major part of its business.

Treasury yields rose. The yield on the 10-year Treasury note, which helps set mortgage rates, rose to 3.20% from 3.12% late Friday.

The market rally last week was welcome relief in the midst of a deep slump for Wall Street as investors worry about the path of inflation and whether rising interest rates will temper the impact to businesses and consumers or push the economy into a recession.

The Federal Reserve and other central banks have been aggressively raising interest rates in a sharp turnaround from maintaining ultra-low rates during the virus pandemic that helped support the economy. It’s a delicate balance for the Fed, which hopes to cool off the economy, but not so much that it actually contracts. Higher interest rates, though, also hurt prices for investors and have prompted much of the year’s sell-off.

Investors have favorably viewed recent reports showing weak consumer sentiment and economic growth because that raises the possibility that the Fed will ease off its plan for aggressive rate hikes as economic growth slows.

Wall Street will have a few more reports this week that could provide more insight into inflation, economic growth and the Fed’s path ahead.

On Tuesday, business group The Conference Board will release its consumer confidence report for June. Spending and confidence held up well through most of the post-pandemic recovery, even as inflation rose. But record high gas prices and an overall tighter squeeze from inflation have been eating away at wallets and prompting many to shift or cut back spending.

Part of push behind inflation’s tighter squeeze was Russia’s invasion of Ukraine in February. That sent energy prices soaring. U.S. crude oil prices are up more than 40% for the year. Prices for wheat and corn have also surged.

Conferring by video link with Ukrainian President Volodymyr Zelenskyy, Group of Seven leaders were finalizing a deal to seek a price cap on Russian oil, raise tariffs on Russian goods and impose other new sanctions.

Russia may have also defaulted on its foreign debt for the first time since the 1917 Bolshevik Revolution, further alienating the country from the global financial system.

Investors will get another update on U.S. economic growth on Wednesday when the Commerce Department releases a report on first-quarter gross domestic product.





Wall Street capped a wobbly day of trading with a mixed finish Monday, giving back some of the market’s gains following a rare winning week.

The S&P 500 slipped 0.3% after shifting between small gains and losses throughout the day. The Dow Jones Industrial Average slipped 0.2% and the Nasdaq fell 0.7%. Shares in small companies rose, while more stocks rose than fell on the New York Stock Exchange.

Declines in technology and communication stocks, and in several big retailers and travel-related companies, weighed on the market. Those losses checked gains in energy stocks and elsewhere.


----------



## bigdog

Asian shares track Wall St drop as inflation fears drag on
					

BANGKOK (AP) — Shares skidded in Asia on Wednesday after another broad decline on Wall Street as markets remain gripped by uncertainty over inflation, rising interest rates and the potential for a recession.




					apnews.com
				




Stocks slide on Wall Street as inflation worries persist​By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed broadly lower on Wall Street Tuesday, after a discouraging snapshot of U.S. consumer confidence stoked investors’ worries about the risk that sharply higher interest rates and pervasive inflation could trigger a recession.

The S&P 500 ended 2% lower, reversing a 1.2% gain from earlier in the day. The Dow Jones Industrial Average fell 1.6% and the Nasdaq composite ended 3% lower.

Roughly 85% of the stocks in the benchmark S&P 500 closed in the red. Technology, communications and health care stocks accounted for a big share of the decline. Retailers and other companies that rely on direct consumer spending also helped pull the index lower. Energy stocks, the only sector in the index to notch gains this year, rose as crude oil prices headed higher.

The indexes got off to a solid start, but the gains faded by midday after the Conference Board reported that its consumer confidence index fell in June to its lowest level in more than a year. The decline was driven largely by concerns over inflation, including rising prices for gas and food. The results were also much weaker than economists expected.

“Confidence is going to continue to shrink as long as inflation remains high,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. “It all comes back to inflation, it’s ultimately driving reaction from the Fed and impacting the market and consumer confidence.”

The S&P 500 fell 78.56 points to 3,821.55, while the Dow dropped 491.27 points to 30,946.99. The tech-heavy Nasdaq slid 343.01 points to 11,181.54.

Smaller company stocks also fell. The Russell 2000 gave up 32.90 points, or 1.9%, at 1,738.84. The indexes are all on pace to for losses of 6% or more in June.

Investors face a pervasive list of concerns centering around rising inflation squeezing businesses and consumers. Supply chain problems that have been at the root of rising inflation were made worse over the last several months by increased restrictions in China related to COVID-19.

Businesses have been raising prices on everything from food to clothing. Russia’s invasion of Ukraine in February put even more pressure on consumers by raising energy prices and pumping gasoline prices to record highs.

Consumers were already shifting spending from goods to services as the economy recovered from the pandemic’s impact, but the intensified pressure from inflation has prompted a sharper shift from discretionary items like electronics to necessities.

Stubborn inflation pressures have driven a stark shift in policy from central banks, which are raising rates to try and temper inflation after years of holding rates down to help economic growth.

Now, they are trying to slow economic growth, but investors are worried that they could go too far and actually push the economy into a recession as key economic indicators are already showing a slowdown in things like retail sales.

“The market might be getting spooked by the speed with which consumers are losing confidence, and that it could possibly upend a soft landing” for the economy, said Sam Stovall, chief investment strategist at CFRA

Investors are awaiting remarks expected for midweek by central bank leaders including Fed Chair Jerome Powell and European Central Bank chief Christine Lagarde. They will also get another update on U.S. economic growth on Wednesday when the Commerce Department releases a report on first-quarter gross domestic product.

Wall Street is also preparing for the latest round of corporate earnings in the next few weeks, which will help paint a clearer picture of how companies are dealing with the squeeze from rising costs and consumers curtailing some spending.

Athletic footwear and apparel giant Nike fell 7% after giving investors a cautious update on the potential hit to revenue because of lockdowns in China. The company relies on China for roughly 17% of its revenue, according to FactSet.

Wynn Resorts rose 3.2% and Las Vegas Sands added 4%. The companies, which have major gambling businesses in China, got a boost after China eased a quarantine requirement for people arriving from abroad.

Technology and communications companies were among the biggest losers Tuesday. Microsoft fell 3.2% and Apple dropped 3%. Google parent Alphabet slid 3.3%.

Energy stocks made solid gains as U.S. crude oil prices rose 2%. Hess rose 5.6% for the biggest gain in the S&P 500.

The yield on the 10-year Treasury note, which helps set mortgage rates, held steady at 3.19%. Overseas markets rose






Stocks closed broadly lower on Wall Street Tuesday, after a discouraging snapshot of U.S. consumer confidence stoked investors’ worries about the risk that sharply higher interest rates and pervasive inflation could trigger a recession.

The S&P 500 ended 2% lower, reversing a 1.2% gain from earlier in the day. The Dow Jones Industrial Average fell 1.6% and the Nasdaq composite ended 3% lower.


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## bigdog

Asia stocks mixed after Wall St down, China manufacturing up
					

BEIJING (AP) — Asian stock markets were mixed Thursday after the U.S. economy contracted and China reported stronger factory activity. Shanghai and Hong Kong gained, while Tokyo and Seoul declined.




					apnews.com
				




US stocks slip, on track for 4th monthly loss this year​By DAMIAN J. TROISE and ALEX VEIGA

Stock indexes on Wall Street ended mostly lower Wednesday after another choppy day of trading as the market heads toward its fourth monthly loss this year.

The S&P 500 ended 0.1% lower after shifting between small gains and losses. The Dow Jones Industrial Average eked out a 0.3% gain, while the Nasdaq composite slipped less than 0.1%.

Trading has been volatile all week amid growing signs the economy could be in for a recession under the pressure of stubbornly high inflation and sharply higher interest rates.

Investors snapped up U.S. government bonds, sending yields lower. The yield on the 10-year Treasury, which influences rates on mortgages and other consumer loans, fell to 3.10% from 3.20% late Tuesday, a big move.

“Lower yields because we’ve got more economic risk is not a good thing for the market,” said Willie Delwiche, investment strategist at All Star Charts. “It’s on the bulls to prove that they can sustain some strength beyond a few days or a one-week rally.”

The S&P 500 slipped 2.72 points to 3,818.83. With one day left to go in June, the benchmark index is down 7.6% for the month and down 20% for the year.

The Dow rose 82.32 points to 31,029.31, while the Nasdaq dropped 3.65 points to 11,177.89

Small company stocks fell sharply in a signal that investors were worried about economic growth. The Russell 2000 slid 19.47 points, or 1.1%, to 1,719.37.

The government reported that the economy shrank at a 1.6% annual pace in the first three months of the year, its third and final estimate for GDP in the first three months of 2022. That figure was in line with previous estimates, and economists expect growth to resume later this year.

Investors have been closely watching economic data as they try to determine how deeply inflation is hurting consumers and businesses, while also keeping an eye on the Federal Reserve’s aggressive shift to raise interest rates.

The central bank is raising rates in an attempt to slow economic growth enough to temper inflation, but Wall Street is wary that the Fed could go too far and push the economy into a recession. Those concerns have been heightened by a series of reports showing a slowdown in retail sales and other indicators.

Consumers were held up as being resilient in the face of rising prices earlier this year, but that sentiment has faded, said Liz Ann Sonders, chief investment strategist at Charles Schwab. The latest GDP revision shows that consumer spending, which accounts for about two-thirds of economic output, was substantially weaker than the government had calculated earlier, growing at a 1.8% annual pace instead of the 3.1% it estimated in May.

“Not only is recession the base case, but I think it already may have begun,” Sonders said.

Fed Chair Jerome Powell, speaking Wednesday at a European Central Bank forum in Sintra, Portugal, repeated his hope that the Fed can achieve a so-called soft landing: raising interest rates just enough to slow the economy and rein in surging consumer prices without causing a recession and sharply raising the unemployment rate

But, he said the path to achieving that goal has become more difficult and there’s “no guarantee″ the central bank can tame runaway inflation without hurting the job market.

Lingering supply problems and a sharp jump in demand as the pandemic faded sparked a rise in inflation. It has grown worse through the year as supply chain problems worsened following new lockdowns in China to help control COVID-19 cases. Russia’s invasion of Ukraine in February sent energy prices higher and resulted in record high gasoline prices that have been eating away at consumers’ wallets.

Consumers have shifted spending from discretionary items like electronics to necessities as inflation grows hotter. A weaker-than-expected consumer confidence reading on Tuesday revealed that persistently high inflation was making Americans more pessimistic about both the present and future.

Impacts from the shift in spending is a key focus for investors as companies start to report their latest financial results. Cheerios maker General Mills climbed 6.3% for the biggest gain in the S&P 500 after reporting solid financial results and giving investors an encouraging forecast.

Gains in health care and technology companies helped lift the market. Eli Lilly rose 1.7% and Microsoft added 1.5%.

Energy stocks fell as the price of U.S. crude oil dropped 1.8%. Exxon Mobil slid 3.7%.

Industrial firms and retailers also kept the market’s gains in check. FedEx fell 2.6% and Target slipped 1.8%.

Bed Bath & Beyond plunged 23.6% after reporting a far bigger loss than analysts expected and replacing its CEO.

Cruise lines were among the biggest decliners in the S&P 500. Carnival slid 14.1%, Royal Caribbean dropped 10.3% and Norwegian Cruise Line fell 9.3%.






Stock indexes on Wall Street ended mostly lower Wednesday after another choppy day of trading as the market heads toward its fourth monthly loss this year.

The S&P 500 ended 0.1% lower after shifting between small gains and losses. The Dow Jones Industrial Average eked out a 0.3% gain, while the Nasdaq composite slipped less than 0.1%.

The S&P 500 slipped 2.72 points to 3,818.83. With one day left to go in June, the benchmark index is down 7.6% for the month and down 20% for the year.

Trading has been volatile all week amid growing signs the economy could be in for a recession under the pressure of stubbornly high inflation and sharply higher interest rates.


----------



## bigdog

Asian shares mostly lower after pessimistic 'tankan' survey
					

TOKYO (AP) — Asian benchmarks were mostly lower on Friday, echoing a decline on Wall Street, after a quarterly report by Japan’s central bank rekindled worries about the world’s third largest economy.




					apnews.com
				




Stocks slump, closing out worst quarter since early 2020​By DAMIAN J. TROISE and ALEX VEIGA

Wall Street racked up more losses for stocks Thursday, as the market closed out its worst quarter since the onset of the pandemic in early 2020.

The S&P 500 fell 0.9%, its fourth consecutive drop. The benchmark index is now down 21% since it hit an all-time high at the beginning of the year. It entered a bear market earlier in June.

All told, the S&P 500′s performance in the first half of 2022 was the worst since the first six months of 1970.

“And in 1970 there was a solid rebound after that first half decline,” said Lindsey Bell, chief markets and money strategist at Ally Invest. “This time around, the impact of the Fed, the impact of inflation and the uncertainty of where growth goes from here is really weighing on investors’ minds. ... We just don’t know when the clouds of uncertainty are going to start to clear.”

The market’s steep decline this year has all but wiped out its gains from 2021, what was a banner year for the market as it emerged from its previous bear market in early 2020

Rising inflation has been behind much of the slump for the broader market this year as businesses raise prices on everything from food to clothing and consumers are squeezed tighter. Inflation remains stubbornly hot, according to a series of recent economic updates.

The Federal Reserve and other central banks have been aggressively raising interest rates to try and slow economic growth in order to cool inflation. Higher rates can bring down inflation, but they also risk a recession by slowing the economy too much. They also push down on prices for stocks, bonds, cryptocurrencies and other investments.

“What the market is trying to assess is when does it seem as if the Fed is going to have what it needs to ascertain that inflation is plateauing,” said Quincy Krosby, chief equity strategist for LPL Financial.

The S&P 500 fell 33.45 points to 3,785.38 Thursday. It lost 16.4% in the April-June quarter, its biggest quarterly decline since it slumped 20% in the first three months of 2020, when the pandemic upended the global economy in a matter of weeks.

The Dow Jones Industrial Average fell 253.88 points, or 0.8%, to 30,775.43. The Nasdaq slid 149.16 points, or 1.3%, to 11,028.74.

Small company stocks also fell. The Russell 2000 lost 11.38 points, or 0.7%, to 1,707.99.

The yield on the 10-year Treasury, which helps set mortgage rates, fell to 3.01% from 3.09% late Wednesday.

Technology companies were among the biggest weights on the market, as investors continued to favor utilities and other traditional defensive stocks. Apple fell 1.8%, while Exelon rose 2.2%.

Retailers and other companies that rely directly on consumer spending also posted some of the biggest losses, as they have all year. Amazon slipped 2.5% and Best Buy shed 2.9%.

Investors got another update on inflation Thursday. A measure of inflation that is closely tracked by the Fed rose 6.3% in May from a year earlier, unchanged from its level in April. The report from the Commerce Department also said that consumer spending rose at a sluggish 0.2% rate from April to May

The update follows a worrisome report earlier this week showing that consumer confidence slipped to its lowest level in 16 months. The government has also reported that the U.S. economy shrank 1.6% in the first quarter and weak consumer spending was a key part of that contraction.

The situation has become even more complicated following added supply chain problems because of COVID-19 lockdowns in China and Russia’s invasion of Ukraine. The war in Ukraine prompted a surge in oil prices this year that resulted in record high gasoline prices.

The OPEC oil cartel and allied producing nations decided Thursday to increase production of crude oil, but the amount will likely do little to relieve high gasoline prices at the pump and energy-fueled inflation plaguing the global economy.

“There’s no doubt this has been a difficult two quarters for the market, the U.S. economy, the U.S. consumer, and for the Fed’s job to control and curtail inflationary pressure,” Krosby said. “And yet, as we get into the beginning of the second half, so far companies have been managing and it’s the guidance they offer that is going to help set the tone over the next couple of weeks.”





Wall Street racked up more losses for stocks Thursday, as the market closed out its worst quarter since the onset of the pandemic in early 2020.

The S&P 500 fell 0.9%, its fourth consecutive drop. The benchmark index is now down 21% since it hit an all-time high at the beginning of the year. It entered a bear market earlier in June.

All told, the S&P 500′s performance in the first half of 2022 was the worst since the first six months of 1970.


----------



## bigdog

Wall Street closes higher but still ends week in the red
					

Stocks on Wall Street shook off a downbeat start and ended broadly higher Friday, though the rebound was not enough to erase their losses for the week. The S&P 500 rose 1.1% after having been down 0.9% in the early going.




					apnews.com
				




Wall Street closes higher but still ends week in the red​By DAMIAN J. TROISE and ALEX VEIGA

Stocks on Wall Street shook off a downbeat start and ended broadly higher Friday, though the rebound was not enough to erase their losses for the week.

The S&P 500 rose 1.1% after having been down 0.9% in the early going. The gain snapped a four-day losing streak for the benchmark index, which still posted its fourth losing week in the last five.

The Dow Jones Industrial Average rose 1%, while the tech-heavy Nasdaq gained 0.9% after a sell-off in technology stocks eased.

The latest choppy trading comes a day after the S&P 500 closed out its worst quarter since the onset of the pandemic in early 2020. Its performance in the first half of 2022 was the worst since the first six months of 1970.

The S&P 500 has been in a bear market since last month, meaning an extended decline of 20% or more from its most recent peak. It’s now down 20.2% from the peak it set at the beginning of this year.

Bond yields fell significantly. The yield on the 10-year Treasury, which helps set mortgage rates, fell to 2.89% from 2.97% Thursday. The yield on the 2-year Treasury slipped to 2.83% from 2.92%

The market’s deep slump this year reflects investors’ anxiety over surging inflation and the possibility that higher interest rates could bring on a recession

“What we’re seeing today is reflective of really what we’re going to see here in July, which is continued pressure on the markets, unless we see outsized economic reports on jobs or inflation, or some more meaningful change in Fed policy,” said Greg Bassuk, CEO at AXS Investments.

The S&P 500 rose 39.95 to 3,825.33. Roughly 85% of the stocks in the index finished higher.

The Dow gained 321.83 points to 31,097.26, while the Nasdaq rose 99.11 points to 11,127.85. The Russell 2000 index of smaller companies rose 19.77 points, or 1.2%, to 1,727.76.

The market’s latest gyrations precede a long holiday weekend. Financial markets in the U.S. will be closed on Monday for Independence Day.

Wall Street remains concerned about the risk of a recession as economic growth slows and the Federal Reserve aggressively hikes interest rates. The Fed is raising rates to purposefully slow economic growth to help cool inflation, but could potentially go too far and bring on a recession.

Economic data over the last few weeks has shown that inflation remains hot and the economy is slowing. The latter has raised hopes on Wall Street that the Fed will eventually ease off its aggressive push to raise rates, which have been weighing on stocks, especially pricier sectors like technology. Analysts don’t expect much of a rally for stocks until there are solid signs that inflation is cooling.

The latest economic update on Friday for the manufacturing sector shows a continued slowdown in growth in June that was sharper than economists expected. On Thursday, a report showed that a measure of inflation that is closely tracked by the Fed rose 6.3% in May from a year earlier, unchanged from its level in April.

Earlier this week, a worrisome report showed that consumer confidence slipped to its lowest level in 16 months. The government has also reported that the U.S. economy shrank at an annual rate of 1.6% in the first quarter and weak consumer spending was a key part of that contraction

Kohl’s dove 19.6% after the department store’s potential sale fell apart amid the shaky retail environment as consumers lose confidence and cut spending. Kohl’s had entered exclusive talks with Franchise Group, the owner of Vitamin Shop and other retail outlets, for a deal that was potentially worth about $8 billion.

Other retailers, restaurant chains and companies that rely on direct consumer spending helped lead the market rally. Amazon rose 3.2%, Home Depot gained 1.8% and Starbucks rose 3.8%.

Banks and health care stocks also notched gains. Wells Fargo rose 1.9% and Johnson & Johnson closed 1.1% higher.

Technology stocks largely bounced back from their broad morning slump, though many still closed lower. Chipmaker Micron slid 3% after giving investors a disappointing profit forecast amid concerns about falling demand. That weighed heavily on other chipmakers. Nvidia fell 4.2% and Qualcomm lost 3.3%.


----------



## bigdog

On Friday stocks on Wall Street shook off a downbeat start and ended broadly higher Friday, though the rebound was not enough to erase their losses for the week.

The S&P 500 rose 1.1% after having been down 0.9% in the early going. The gain snapped a four-day losing streak for the benchmark index, which still posted its fourth losing week in the last five.


The Dow Jones Industrial Average rose 1%, while the tech-heavy Nasdaq gained 0.9% after a sell-off in technology stocks eased.


----------



## bigdog

*NYSE closed for Independence Day, the Fourth of July, is the National Day of the United States of America*









						World shares mostly higher ahead of July 4 holiday in US
					

BANGKOK (AP) — World shares are mostly higher while U.S. futures fell ahead of the July 4 holiday in the U.S. Benchmarks rose in London, Paris, Frankfurt and Tokyo but fell in Hong Kong and Seoul.




					apnews.com
				




World shares mostly higher ahead of July 4 holiday in US​By ELAINE KURTENBACH

BANGKOK (AP) — World shares are mostly higher while U.S. futures fell ahead of the July 4 holiday in the U.S. Benchmarks rose in London, Paris, Frankfurt and Tokyo but fell in Hong Kong and Seoul.

Last week was the fourth losing week in the last five for Wall Street as investors fret over high inflation and the possibility that higher interest rates could bring on a recession.

The most optimistic scenario, a “Goldilocks outcome,” would bring a slowdown significant enough to cool inflation running at its highest level in four decades but not so strong as to result in a “hard landing,” Mizuho Bank said in a commentary.

“This is a tall order that is far from guaranteed at this point,” it said, noting that markets will be looking to comments in minutes from the last Federal Reserve policy meeting, expected Wednesday.

Economic data over the last few weeks has shown that inflation remains hot and the economy is slowing. The latter has raised hopes on Wall Street that the Fed will eventually ease off its push to raise rates, which have been weighing on stocks, especially pricier sectors like technology.

Analysts don’t expect much of a rally for stocks until there are solid signs that inflation is cooling, and the latest data has yet to show that. Friday brought a report that Inflation in countries using the euro had set another eye-watering record, pushed higher by a huge increase in energy costs fueled partly by Russia’s war in Ukraine

Annual inflation in the eurozone’s 19 countries hit 8.6% in June, surging past the 8.1% recorded in May, according to the latest numbers published Friday by the European Union statistics agency, Eurostat. Inflation is at its highest level since recordkeeping for the euro began in 1997.

Tokyo’s Nikkei 225 rose 0.8% to 26,153.81 on Monday.

Shares in Japanese telecoms carrier KDDI Corp. lost 1.7%. They fell as much as 4% earlier Monday as the company grappled with outages that began early Saturday, affecting services to nearly 40 million people.

The company said Monday that most data-transmission services had been restored, but phone calls were still affected by the problems which KDDI said were technical issues with switching systems.

The Shanghai Composite index added 0.5% to 3,405.43. Australia’s S&P/ASX 200 climbed 1.1% to 6,612.60.

Hong Kong’s Hang Seng index lost 0.1% to 21,830.35 and the Kospi in Seoul declined 0.2% to 2,300.34. India’s Sensex advanced 0.3%, while shares fell in Bangkok and Taiwan.

On Friday, the S&P 500 rose 1.1%, recovering from early losses to close at 3,825.33. The gain snapped a four-day losing streak for the benchmark index, which still posted its fourth losing week in the last five.

The Dow Jones Industrial Average rose 1% to 31,097.26, while the tech-heavy Nasdaq gained 0.9% to 11,127.85.

The S&P 500 closed out its worst quarter since the onset of the pandemic in early 2020. Its performance in the first half of 2022 was the worst since the first six months of 1970. It has been in a bear market since last month, meaning an extended decline of 20% or more from its most recent peak.

The yield on the 10-year Treasury, which helps set mortgage rates, was steady at 2.89% after falling Friday from Thursday’s 2.97%.

Financial markets in the U.S. will be closed on Monday for Independence Day.

Wall Street remains concerned about the risk of a recession as economic growth slows and the Federal Reserve aggressively hikes interest rates. The Fed is raising rates to purposefully slow economic growth to help cool inflation, but could potentially go too far and bring on a recession.

High gas prices have been big factor in pushing prices higher and squeezing pocketbooks.

Early Monday, benchmark U.S. crude oil lost 67 cents to $107.76 per barrel in electronic trading on the New York Mercantile Exchange. It jumped $2.67 to $108.43 per barrel on Friday.

Brent crude, the pricing basis for international trading, shed 52 cents to $111.11 per barrel.

The U.S. dollar rose to 135.41 Japanese yen from 135.27 yen. The euro climbed to $1.0440 from $1.0429.


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## bigdog

Asian benchmarks mostly lower after tepid Wall St session
					

TOKYO (AP) — Asian shares were mostly lower Wednesday after tepid trading on Wall Street amid worries about a global recession. Major benchmarks fell across Asia. Oil prices recouped some lost ground after plunging on Monday.




					apnews.com
				




US indexes shake off an early slump and eke out gains​By DAMIAN J. TROISE and ALEX VEIGA

Stock indexes on Wall Street ended with meager gains Tuesday, as a late-afternoon rally led by technology companies stemmed the market’s losses after an early slump.

The S&P eked out a gain of 0.2% after having been down 2.2% earlier in the day. The Dow Jones Industrial Average lost 0.4%, while the tech-heavy Nasdaq composite closed 1.7% higher.

The weak opening, which followed a long weekend for the Independence Day holiday, came about as the price of U.S. crude oil fell sharply, eventually settling below $100 a barrel for the first time since early May. Bond yields also fell, a sign traders were seeking less risky assets.

Energy, industrial, health care and most of the 11 sectors in the S&P 500 ended in the red, despite the late-day rally in technology stocks, communication firms and retailers and other companies that rely on direct consumer spending.

The volatility reflects growing worries among investors that the economy is slowing under the weight of surging inflation and sharply higher interest rates, pressures that could tip the economy into a recession

“The market is really taking the growth slowdown as the primary driver today,” said Paul Kim, CEO of Simplified Asset Management. “So you’re seeing a modest sell-off in risk assets, but a significant sell-off in oil, energy, commodities tied to growth, as well as a a modest drop in yields.”

The S&P 500 rose 6.06 points to 3,831.39. The Nasdaq rose 194.39 points to 3,831.39. The Dow Jones Industrial Average remained in the red, losing 129.44 points to 30,967.82.

Small-company stocks also bounced back after a downbeat start. The Russell 2000 rose 13.57 points, or 0.8%, to 1,741.33.

European markets fell broadly.

Stocks remain in a slump that pulled the S&P 500 into a bear market last month, meaning an extended decline of 20% or more from a recent peak. The market’s performance in the first half of 2022 was the worst since the first six months of 1970.

Inflation has been squeezing businesses and consumers throughout the year, but tightened its grip after Russia invaded Ukraine in February. The invasion sent oil prices higher globally and sent gasoline prices in the U.S. to record highs. That prompted a pullback in spending from consumers struggling with higher prices on everything from food to clothing.

Lockdowns in China from rising COVID-19 cases have also made supply chain problems worse.

Central banks have been raising interest rates in an attempt to temper inflation. The Federal Reserve has been aggressive in its shift from historically low interest rates at the height of the pandemic to unusually big rate increases. But, that has raised concerns that the central bank could go too far in raising rates and hitting the brakes too hard on economic growth, which could bring on a recession.

Wall Street has been closely watching the latest economic updates for more clues on how inflation is impacting the economy and whether that could shift the Fed’s position on rate hikes. Wall Street will get a closer look at the employment market on Friday when the the government releases employment data for June.

Investors are also looking ahead to the next round of corporate earnings for a clearer picture of inflation’s impact. Several big companies recently warned that their financial results are being squeezed by inflation, including spice and seasonings maker McCormick.

Technology and communication stocks staged a turnaround and ended higher Tuesday. Apple rose 1.9% and Facebook parent Meta climbed 5.1%. Home Depot rose 1.7%, one of several big retailers that gained ground.

Energy companies had some of the biggest losses as the price of U.S. crude oil slumped 8.2% to $99.50 a barrel. That’s the lowest price since May 10, when it settled at $96.87 a barrel. Exxon Mobil fell 3.1% and Hess dropped 6.8%.

Banks fell along with bond yields. The yield on the 10-year Treasury, which helps set mortgage rates, fell to 2.82% from 2.90% late Friday. Bank of America dropped 1%.





Stock indexes on Wall Street ended with meager gains Tuesday, as a late-afternoon rally led by technology companies stemmed the market’s losses after an early slump.

The S&P eked out a gain of 0.2% after having been down 2.2% earlier in the day. The Dow Jones Industrial Average lost 0.4%, while the tech-heavy Nasdaq composite closed 1.7% higher.


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## bigdog

Asian stocks higher after Fed says rate hikes may be needed
					

BEIJING (AP) — Asian stock markets gained Thursday after the Federal Reserve said higher U.S. interest rates might be needed to cool inflation. Shanghai, Tokyo and Sydney advanced. Hong Kong declined.




					apnews.com
				




Stocks rise after release of Fed meeting minutes​By DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped another choppy day of trading Wednesday with modest gains for the major stock indexes, after investors combed the minutes from the Federal Reserve’s most recent interest rate policy meeting for clues about what the central bank may do next to fight inflation.

The S&P 500 rose 0.4%, its third-consecutive gain, after spending much of the morning and early afternoon wavering between gains and losses. The Dow Jones Industrial Average rose 0.2%, while the the Nasdaq rose 0.3%.

Small company stocks remained in a slump, however, a sign that investors are worried about economic growth. The Russell 2000 gave up 0.8%.

Bond yields rose significantly. The yield on the 10-year Treasury, which helps set mortgage rates, jumped to 2.93% from 2.81% late Tuesday.

The minutes from the Fed’s two-day meeting last month show that the central bank’s policymakers concluded higher interest rates could be needed to restrain what they saw as a worrying trend: consumers starting to anticipate higher inflation. The policymakers also acknowledged that more rate hikes could weaken the economy.

The Fed’s minutes offered no major surprises for Wall Street, said Tom Martin, senior portfolio manager with Globalt Investments.

“What’s going to be much more interesting is what the Fed says in July,” Martin said.

The S&P 500 rose 13.69 points to 3,845.08. The Dow gained 69.86 points to 31,037.68. The Nasdaq rose 39.61 points to 11,361.85. The Russell 2000 fell 13.78 points to 1,727.55.

Major indexes have swung from sharp losses to gains on a day-to-day and even hour-to-hour basis lately, reflecting investors’ worries about inflation, rising interest rates and a potential recession. The broader market, though, is still mired in a deep slump that has dragged the S&P 500 into a bear market, over 20% below its most recent high.

Wall Street’s key concern centers around the Federal Reserve’s effort to rein in inflation, and the risk its plan could send the economy into a recession.

Inflation has squeezed businesses and consumers throughout the year. Its grip tightened after Russia invaded Ukraine in February and as China locked down several key cities to contain rising COVID-19 cases, which worsened supply chain problems.

Surging oil prices worsened inflation by sending gasoline prices in the U.S. to record highs. The price of U.S. crude oil is still up 36% for the year, but has been slipping throughout the week in a welcome sign for a market hoping for any signal that inflation could be easing.

U.S. crude oil fell 1% Wednesday. The price on Tuesday settled below $100 a barrel for the first time since early May.

Central banks have been raising interest rates in an attempt to temper inflation. The Fed has been particularly aggressive in its shift from historically low interest rates at the height of the pandemic to unusually big rate increases now. That has raised concerns that the central bank could go too far, hitting the brakes too hard on economic growth and bringing on a recession.

After last month’s meeting, the Fed raised its rate by three-quarters of a point to a range of 1.5% to 1.75% — the biggest single increase in nearly three decades — and signaled that further large hikes would likely be needed.

The minutes from the Fed’s June 14-15 meeting show that officials agreed that the central bank needed to raise its benchmark interest rate to “restrictive” levels that would slow the economy’s growth and “recognized that an even more restrictive stance could be appropriate” if inflation persisted.

The recent pullback in energy prices could mean lower gas prices in a few weeks and could signal that inflation is peaking, along with a cooling housing market.

“This takes the pressure off the Fed,” said Katie Nixon, chief investment officer for Northern Trust Wealth Management. “If we can see gas prices go down, that will pull through to consumer sentiment and that could give the Fed the ability to at least take some of the pressure off.”

Investors are closely monitoring economic data for clues about inflation’s impact, its trajectory, and what that means for the Fed’s position moving forward. A government report on job openings in May beat economists’ expectations in a sign that the employment market remains healthy. A report on the U.S. services industry showed that the sector’s growth slowed less than expected in June.

Wall Street will be closely watching the U.S. government’s release of employment data for June on Friday.

Technology and health care stocks accounted for a big share of the benchmark S&P 500 index’s gains Wednesday. Cisco Systems rose 1.7% and Pfizer added 2.1%.

Energy sector stocks, which lost ground along with crude oil prices, were among the few sectors that closed lower. Hess remained in the red. Hess dropped 2.7%.

Delivery service DoorDash fell 7.4% following Amazon’s announcement of a deal with rival delivery service Grubhub.

European markets closed broadly higher.

The euro is at a 20-year low to the dollar on worries over disruptions to energy supplies. European Commission chief Ursula von der Leyen said the 27-nation European Union needs to make emergency plans to prepare for a complete cut-off of Russian gas amid the Kremlin’s war on Ukraine.






Wall Street capped another choppy day of trading Wednesday with modest gains for the major stock indexes, after investors combed the minutes from the Federal Reserve’s most recent interest rate policy meeting for clues about what the central bank may do next to fight inflation.

The S&P 500 rose 0.4%, its third-consecutive gain, after spending much of the morning and early afternoon wavering between gains and losses. The Dow Jones Industrial Average rose 0.2%, while the the Nasdaq rose 0.3%


----------



## bigdog

Asian markets follow Wall St higher as recession fears ease
					

BEIJING (AP) — Asian stock markets followed Wall Street higher Friday after two Federal Reserve officials said the U.S. economy might avoid a recession and news reports said China might boost construction spending to stimulate its struggling economy.




					apnews.com
				




Wall Street rallies again, even as bond market signals worry​By DAMIAN J. TROISE and ALEX VEIGA

Stocks on Wall Street rallied again Thursday, extending the market’s winning streak to a fourth day and placing the major indexes on pace for weekly gains.

The S&P 500 rose 1.5%. It’s latest gain marks the longest winning streak for the benchmark index since March. The Dow Jones Industrial Average rose 1.1%, while the Nasdaq closed 2.3% higher.

Small-company stocks outpaced the broader market, a signal that some investors remain confident of economic growth. The Russell 2000 rose 2.4%.

Most of the market climbed, and energy-producing companies led the way after oil prices recovered a chunk of their sharp losses from earlier in the week. The bond market is still showing signs of worry about a possible recession, though.

A report on Thursday showed more workers filed for unemployment benefits last week than expected. A report on Friday will show more broadly how the jobs market is doing.

“We still see a host of macro headwinds that suggest a cautious approach is appropriate here,” said Bill Merz, head of capital markets research at U.S. Bank Wealth Management.

The S&P 500 rose 57.54 points to 3,902.62, as roughly three-fourths of the stocks in the index rose. The Dow rose 346.87 points to 31,384 and the Nasdaq rose 259.49 points to 11,621.35. The Russell 2000 gained 42.06 points to 1,769.60.

Companies that benefit the most from a healthy economy led the gains, with technology stocks doing much of the heavy lifting. Apple rose 2.4%.

The energy sector also rose as U.S. crude oil prices climbed 4.3% after falling the last few days. Exxon Mobil rose 3.2%.

“Energy prices have been coming down on fears of a recession, along with a host of other industrial commodities,” said Quincy Krosby, chief equity strategist for LPL Financial. “Obviously, there’s still concern about the economy, there’s still concern about where we’re headed and whether the economic backdrop is going to weaken.”

The major indexes are on pace for weekly gains in what has been turbulent trading over the last several months. The volatility reflects growing worries among investors that the economy is slowing under the weight of surging inflation and sharply higher interest rates, pressures that could tip the economy into a recession.

Despite this week’s rally in the stock market, bond investors continue to signal anxiety over a potential recession. New data Thursday showed that the number of Americans applying for unemployment benefits topped the 230,000 mark for the fifth consecutive week. While claims remain low, last week was the highest level of claims in almost six months.

The yield on the 10-year Treasury rose to 3% from 2.91% late Wednesday. The yield on the two-year Treasury is above the 10-year yield, a relatively rare thing seen by some investors as an ominous sign.

The job market in the U.S. has been a key focus for investors this week as they look for any clues on how inflation is impacting the economy. On Wednesday, the U.S. government reported that employers advertised fewer jobs in May amid signs that the economy is weakening and there are already signs that retailers have pulled back on hiring.

A weakening of the broader job market, which has remained strong through the pandemic recovery, could signal that inflation is cooling off. Investors will get a clearer picture on Friday when the more detailed June jobs report is released.

“That’s what the Federal Reserve wants it to do, they’re actually thinking that their policies are working because they are increasing slack in the labor markets,” said Zachary Hill, head of portfolio management at Horizon Investments. “As we look to tomorrow and think about how markets should be reading the report, seeing a deceleration in the pace of job growth is a positive in a sense.”

Investors are trying to determine whether a recession is on the horizon as the Fed aggressively raises interest rates to temper pervasive inflation.

Businesses are getting squeezed by higher costs because of supply chain problems and have raised prices on everything from food to clothing.

Consumers have been pulling back on spending as inflation puts a tighter squeeze on budgets. Russia’s invasion of Ukraine in February sent energy prices surging in 2022, resulting in record gasoline prices in the U.S. Pain at the pump has only worsened the broader impact from inflation, though there are signs that gasoline prices have begun to recede.

The key concern is that the Fed’s interest rate hikes could go too far in slowing economic growth and actually bring on a recession. After last month’s meeting, the Fed raised its rate by three-quarters of a point to a range of 1.5% to 1.75% — the biggest single increase in nearly three decades — and signaled that further large hikes would likely be needed.

The recession concerns have been weighing heavily on markets. Every major index is in a slump for the year and the benchmark S&P 500 is in a bear market, or down at 20% from its most recent high. The market is not likely going to regain ground until Wall Street gets clearer signals that inflation is cooling.

Markets in Europe ticked higher on a day that British Prime Minister Boris Johnson announced that he was resigning amid a flood of resignations from his Conservative Party’s members.





Stocks on Wall Street rallied again Thursday, extending the market’s winning streak to a fourth day and placing the major indexes on pace for weekly gains.

The S&P 500 rose 1.5%. It’s latest gain marks the longest winning streak for the benchmark index since March. The Dow Jones Industrial Average rose 1.1%, while the Nasdaq closed 2.3% higher.


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## bigdog

Wall Street ends winning week with mixed close on jobs data
					

NEW YORK (AP) — Wall Street capped a winning week with a sputtering finish Friday, as stocks waffled following a stronger-than-expected report on the U.S.




					apnews.com
				




Wall Street ends winning week with mixed close on jobs data​By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Wall Street capped a winning week with a sputtering finish Friday, as stocks waffled following a stronger-than-expected report on the U.S. jobs market.

The S&P 500 slipped 0.1% after earlier flipping between a loss of 0.9% and a gain of 0.4%. Despite its weak finish, the benchmark index delivered just its third winning week in the last 14.

The surprisingly strong jobs report showed that employers are continuing to hire despite worries about a possible recession. However, the hotter the economy remains, the more likely the Federal Reserve is to continue raising interest rates sharply in its fight against inflation.

Treasury yields shot higher immediately after the release of the jobs data, underscoring expectations of Fed rate hikes, but then eased back. The yield on the two-year Treasury jumped as high as 3.15% from 3.03% late Thursday, but it then moderated to 3.11%. The 10-year yield, which influences rates on mortgages and other consumer loans, rose 3.08% from 3% a day earlier.

The Dow Jones Industrial Average slipped 0.1%, while the Nasdaq composite rose 0.1% after swinging between a loss of 1.2% and a 0.6% gain. The technology and other high-growth companies that make up a big chunk of the Nasdaq index have been some of the most vulnerable to rising rates recently. Both indexes also notched a gain for the week, something that’s been rare in recent months as the market’s downturn gained momentum.

“Today we just have a little reversal, because rates popped over 3% on this strong employment report,” said Jay Hatfield, CEO of Infrastructure Capital Advisors.

Wall Street’s key concern centers around the Federal Reserve’s effort to rein in inflation, and the risk its plan could send the economy into a recession.

The central bank has already hiked its key overnight interest rate three times this year, and the increases have become increasingly aggressive. Last month it raised rates by the sharpest degree since 1994, by three-quarters of a percentage point to a range of 1.50% to 1.75%. It was at virtually zero as recently as March.

By making it more expensive to borrow, the Fed has already slowed some parts of the economy. The housing market has cooled in particular as mortgage rates rise due to the Fed’s actions. Other parts of the economy have also shown signs of flagging, and confidence has fallen sharply among consumers as they contend with the highest inflation in four decades.

The hope on Wall Street had been that the recently mixed data on the economy could convince the Federal Reserve to take it easier on rate hikes. This week’s reprieve from spiking prices for oil and other commodities helped strengthen such hopes. But Friday’s jobs report may have undercut them.

The choppy trading Friday comes ahead of a key report Wednesday on inflation at the consumer level. The consumer price index, which in May came in at the highest level since 1981, is projected to show an increase of 8.8% over the 12 months ended in June, according to FactSet.

“I don’t think anybody wants to get super long over the weekend going into the CPI,” Hatfield said.

Higher interest rates slow the economy by design, and the Fed’s intent is to do so enough to force down inflation. It’s a sharp reversal from policy during the pandemic, which was to keep rates low in order to support economic growth. The danger is that rates hikes are a notoriously blunt tool, with long lag times before their full effects are seen, and the Fed risks causing a recession if it acts too aggressively.

“You can’t just raise rates and reduce the balance sheet without it doing the opposite of what it did before,” said Jerry Braakman, chief investment officer of First American Trust. “When you do the reverse, you can expect it will do the opposite as well.”

Other central banks around the world are also raising interest rates and removing emergency plans put in place early in the pandemic to prop up financial markets.

One closely watched signal in the U.S. bond market is continuing to warn of a possible recession. The yield on the two-year Treasury this week topped the yield on the 10-year Treasury and remained that way on Friday. It’s a relatively rare occurrence that some see as a precursor for a recession within a year or two. Other warning signals in the bond market, which focus on shorter-term yields, are not flashing though.

Even if the Fed can pull off the delicate task of crushing inflation and avoiding a recession, higher interest rates push down on prices for stocks, bonds, cryptocurrencies and all kinds of investments in the meantime.

Following Friday’s jobs report, traders are universally betting the Fed will raise the target for its short-term interest rate by at least three-quarters of a percentage point at its meeting later this month, according to CME Group. That would match June’s big move.

A small number of traders are even betting on an increase of a full percentage point. A week ago, no one was predicting that big a move, and some traders were thinking an increase of just half that was the most likely scenario.

All told, the S&P 500 dropped 3.24 points Friday to 3,899.38. The modest decline snapped the index’s four-day winning streak.

The Dow fell 46.40 points to 31,388.15, while the Nasdaq rose 13.96 points to 11,635.31. The Russell 2000 index of small company stocks slipped 0.24 points, or less than 0.1%, to 1,769.36.

In overseas markets, stocks ended mixed or modestly higher.

Tokyo’s main stock market index ebbed following the assassination of former Japanese prime minister, Shinzo Abe, but stayed in positive territory for the day. Abe, 67, died after being shot during a campaign speech Friday in western Japan.






*12 Month Chart dow nasdaq s&p*


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## bigdog

The Dow fell 46.40 points to 31,388.15, while the Nasdaq rose 13.96 points to 11,635.31. The Russell 2000 index of small company stocks slipped 0.24 points, or less than 0.1%, to 1,769.36.


----------



## bigdog

Asian shares decline on Wall St slump, China COVID worries
					

TOKYO (AP) — Asian shares fell Tuesday after a slump on Wall Street erased recent gains. U.S. futures and oil prices also declined.  Investors are on the lookout this week for updates on inflation and corporate profits, while renewed coronavirus outbreaks are adding to jitters.




					apnews.com
				




Stocks slump on Wall Street amid recession, rate worries​By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — Wall Street got back to slumping Monday to kick off a week full of updates about how bad inflation is and how corporate profits are handling it.

The S&P 500 fell 1.2% and gave up the majority of its gains from the prior week. The Dow Jones Industrial Average slipped 0.5%, and the Nasdaq composite dropped 2.3%.

Stocks of smaller companies were some of the biggest losers, with the Russell 2000 index down 2.1%, as worries about a possible recession continue to dog markets. The highest inflation in four decades is pushing the Federal Reserve to hike interest rates, which puts the clamps on the economy and pushes downward on all kinds of investments.

Parts of the economy are slowing already, though the still-hot jobs market remains a notable exception.

COVID also continues to drag on the global economy. An outbreak of infections is forcing casinos in the Asian gambling center of Macao to shut for at least a week. That sent Wynn Resorts and Las Vegas Sands down more than 6% apiece for some of the larger losses in the S&P 500.

Twitter lost even more, 11.3%, in the first trading after billionaire Elon Musk said he wants out of his deal to buy the social media platform for $44 billion. Twitter said it will take Musk to court to uphold the agreement.

Other big technology companies were also particularly weak. It’s a continuation of this year’s trend, where rising rates most hurt the investments that soared highest earlier in the pandemic.

The struggles pulled the Nasdaq down 262.71 points to close at 11,372.60. The S&P 500 dropped 44.95 to 3,854.43, and the Dow dipped 164.31 to 31,173.84.

In the bond market, a warning signal continued to flash about a possible recession. The yield on the 10-year Treasury slid to 2.98% from 3.09% late Friday as investors moved dollars into investments seen as holding up better in a downturn. It remains below the two-year Treasury yield, which fell to 3.07%.

Such a thing doesn’t occur often, and some investors see it as a sign that a recession may hit in the next year or two. Other warning signals in the bond market that some see as more reliable, which focus on shorter-term yields, still aren’t flashing. But they also are showing less optimism.

Regardless of whether a recession is imminent, investors likely need to brace for much more volatile markets than they’ve become accustomed to over the last 40 years, strategists at BlackRock said Monday.

For decades, an era of “Great Moderation” smoothed out swings in economic growth and inflation and rewarded investors for “buying the dip” whenever prices dropped. Now, with production constraints driving inflation higher, heavy debt levels weighing on economies and “the hyper-politicization of everything” affecting policy decisions, BlackRock strategists say they’re expecting more volatility and shorter time periods between recessions.

“The Goldilocks option is now off the table,” where stocks and bonds can rise in concert, said Wei Li, global chief investment strategist at BlackRock Investment Institute.

The BlackRock strategists say they prefer stocks over bonds for the long term, but that they’re nevertheless shying away from stocks for the next six to 12 months. One reason is that profit margins for companies are at risk of falling from their historically high levels.

Companies this week are set to begin reporting how their profits fared during the spring. Big banks and other financial companies dominate the early part of the schedule, with JPMorgan Chase and Morgan Stanley set for Thursday. BlackRock, Citigroup and Wells Fargo are among those reporting on Friday.

Expectations for second-quarter results seem to be low. Analysts are forecasting 4.3% growth for companies across the S&P 500, which would be the weakest since the end of 2020, according to FactSet.

Even if companies end up reporting better results than expected, which is usually the case, analysts say the heavier focus will be on what CEOs say about their profit trends for later in the year.

The roughly 19% drop for the S&P 500 this year has been due entirely to rising interest rates and changes in how much investors are willing to pay for each $1 of a company’s profit. So far, expectations for corporate profits have not come down much. If they do, that could lead to another leg downward for stocks.

Many on Wall Street expect those expectations to come down.

The recent rise of the U.S. dollar against other currencies adds another challenge to companies already contending with high inflation and potentially weakening demandaccording to Michael Wilson, equity strategist at Morgan Stanley.

One euro is worth close to $1 now, down 15% from a year earlier, for example. That means sales made in euros may be worth fewer dollars than before.

“The main point for equity investors is that this dollar strength is just another reason to think earnings revisions are coming down over the next few earnings seasons,” Wilson wrote in a report.

Beyond earnings updates, reports this week on inflation will likely dominate trading. On Wednesday, economists expect a report to show that inflation at the consumer level accelerated again last month, up to 8.8% from 8.6% in May.






Wall Street got back to slumping Monday to kick off a week full of updates about how bad inflation is and how corporate profits are handling it.

The S&P 500 fell 1.2% and gave up the majority of its gains from the prior week. The Dow Jones Industrial Average slipped 0.5%, and the Nasdaq composite dropped 2.3%.


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## bigdog

Asian markets rise ahead of US inflation data
					

BEIJING (AP) — Asian stock markets rose Wednesday as investors waited for U.S. inflation data some worry might lead to more interest rate hikes. Shanghai, Tokyo, Hong Kong and Seoul rose. Sydney declined.




					apnews.com
				




US stocks slide as earnings reports for companies begin​By DAMIAN J. TROISE and ALEX VEIGA

Stocks shed early gains and ended broadly lower on Wall Street Tuesday as investors brace for a big week of news on inflation and company earnings reports.

The S&P 500 fell 0.9%, extending its losing streak to a third consecutive day. All of the benchmark index’s 11 company sectors closed in the red.

The Dow Jones Industrial Average slid 0.6%, while the Nasdaq lost 0.9%.

Technology, health care and energy stocks accounted for a big share of the S&P 500′s losses. Bond yields mostly fell, as did energy futures.

Clothing company Gap fell 5% after announcing that CEO Sonia Syngal is stepping down from her role after two years on the job.

The market pullback follows a rare winning week for stocks and comes as investors focus on corporate earnings reports and what they say about how inflation and rising rates are affecting company profits.

“We’ll get more color in the next couple of weeks about how the economy is shaping up, through the lens of companies,” Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.

The S&P 500 fell 35.63 points to 3,818.80. The Dow dropped 192.51 points to 30,981.33, and the Nasdaq slid 107.87 points to 11,264.73.

Smaller company stocks held up better than the broader market. The Russell 2000 slipped 3.83 points, or 0.2%, to 1,728.18.

Energy stocks were among the biggest decliners Tuesday as energy prices fell. The price of U.S. crude oil slumped 7.9%, settling at $95.84 per barrel. Hess fell 3.9%.

Technology stocks also lost ground, weighing heavily on the S&P 500. Pricey values for tech stocks tend to push the broader market higher or lower. Microsoft fell 4.1%.

Several travel-related companies bucked the market decline. United Airlines climbed 8.1%, American Airlines jumped 10% and cruise line operator Carnival rose 7.5%.

Investors remain worried about the possibility the economy will tip into a recession as the Federal Reserve jacks up interest rates to tackle the highest inflation in four decades. Higher interest rates can squelch inflation, but also can choke economic growth and weigh on all kinds of investments.

Against this backdrop, big companies are set to report their latest quarterly results over the next few weeks. Expectations for second-quarter results appear subdued. Analysts are forecasting 5.1% growth for companies across the S&P 500, which would be the weakest since the end of 2020, according to FactSet.

Soft drink and snack maker PepsiCo slipped 0.6% Tuesday after releasing a profit report that easily beat analysts’ estimates.

Delta Air Lines will report its latest results on Wednesday and provide more insight into the travel industry’s recovery from the pandemic. Major banks including JPMorgan Chase and Citigroup are on tap later this week.

The key concerns on Wall Street remain inflation and whether aggressive rate hikes from the Federal Reserve will push the economy into a recession. Investors have had to deal with a turbulent market over the last several months because of those concerns. Major indexes have often swung wildly between gains and losses on any given day and remain in a broad slump.

“The multitude of crosscurrents in the market place suggest that caution is warranted,” Sandven said. Inflation jumped as the economy recovered from the pandemic and demand for goods outpaced supplies. But, inflation heated up in February after Russia invaded Ukraine and sparked a jump in energy prices. Supply chain problems have worsened as China locks down cities in an effort to contain new COVID-19 cases.

The Fed is raising rates in an effort to slow economic growth to help temper the impact from rising inflation. But, the economy is already slowing down as consumers ease up on spending and Wall Street is worried that interest rate hikes could go too far and bring on a recession.

In the bond market, a warning signal continued to flash about a possible recession. The yield on the 10-year Treasury slid to 2.96% from 2.98% late Monday. It remains below the two-year Treasury yield, which fell to 3.04%. Such a thing doesn’t occur often, and some investors see it as a sign that a recession may hit in the next year or two.

Wall Street is keeping a close watch on any indicator that could signal inflation is easing. The Labor Department on Wednesday will release its June report on consumer prices, following with a Thursday release of its June report on prices directly impacting businesses.






Stocks shed early gains and ended broadly lower on Wall Street Tuesday as investors brace for a big week of news on inflation and company earnings reports.

The S&P 500 fell 0.9%, extending its losing streak to a third consecutive day. All of the benchmark index’s 11 company sectors closed in the red.

The Dow Jones Industrial Average slid 0.6%, while the Nasdaq lost 0.9%.


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## bigdog

Asian stocks down after US inflation fuels rate hike fears
					

BEIJING (AP) — Asian stock markets rose Thursday despite a record-setting U.S. inflation report that pointed to more possible interest rate hikes that investors worry will chill economic growth. U.S.




					apnews.com
				




Stocks end lower as Wall Street braces for big hike in rates​By STAN CHOE and ALEX VEIGA

Stocks capped another shaky day on Wall Street with more losses Wednesday, after a highly anticipated report on inflation turned out to be even worse than expected.

The S&P 500 ended 0.4% lower, its fourth consecutive drop, after tumbling as much as 1.6% earlier. The Dow Jones Industrial Average fell 0.7%, while the Nasdaq composite dropped 0.2%, erasing nearly all of an early 2.1% loss.

Markets took a few U-turns through the morning, as has become the norm on Wall Street this tumultuous year. They were following the lead of Treasury yields in the bond market, which initially surged on expectations that Federal Reserve policymakers will hike interest rates drastically to slow the nation’s skyrocketing inflation.






“They seem to have a green light to raise interest rates with the labor market still in very good shape and inflation remaining well above where they want it to be,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management.

Inflation and the Federal Reserve’s response to it have been at the center of Wall Street’s sell off this year. Wednesday’s discouraging data showed that inflation is not only still very high, it’s getting worse.

“For four or five months now, we’ve been counting on peak inflation and we’ve been disappointed consistently,” said John Lynch, chief investment officer at Comerica Wealth Management.

Prices at the consumer level were 9.1% higher last month than a year earlier, accelerating from May’s 8.6% inflation level. That was also worse than economists’ expectations for 8.8%.

The Fed’s main tool to combat inflation is to raise short-term interest rates, which it has already done three times this year. After Wednesday’s inflation report, traders now see it as a lock that the Federal Reserve will hike its key interest rate by at least three-quarters of a percentage point at its next meeting in two weeks.

That would match its most recent increase, which was the biggest since 1994. A growing number of traders are even suggesting the Fed will go for a monster hike of a full percentage point.

The latest inflation data “certainly creates more certainty that the Fed is going to be pretty aggressive in the July meeting,” Hainlin said.

Traders are betting on a 67.8% chance of a full-point hike, up from zero a month ago, according to CME Group.

The risk is that rate hikes are a notoriously blunt tool, one that takes a long time for the full effects to be felt. If the Fed ends up too aggressive with them, it could cause a recession. In the meantime, higher rates push down on prices of all kinds of investments.

“Shock and awe from the Fed might cause a lot of collateral damage to the economy without really providing near-term inflation relief,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments.

“The Fed probably needs to temper people’s expectations about what they can do,” he said.

All told, the S&P 500 fell 17.02 points to 3,801.78. The Dow dropped 208.54 points to 30,772.79, and the Nasdaq lost 17.15 points at 11,247.58.

Smaller company stocks also lost ground. The Russell 2000 slipped 2.15 points, or 0.1%, to 1,726.04.

In the bond market, the two-year Treasury yield rose to 3.13% from 3.05% late Tuesday. It tends to follow expectations for Fed action, and it got as high as 3.22% immediately after the release of the inflation report.

It remains higher than the 10-year yield, which fell to 2.91%, down from 2.95% from late Tuesday. That’s a relatively rare occurrence, and some investors see it as an ominous signal of a potential recession.

The inflation data also sent immediate jolts into stock markets across Europe and for gold, with prices for all of them weakening after the report’s release. U.S. gold for August delivery ended up settling 0.6% higher.

Even with the swings, Wall Street’s reaction was more muted than it was following the last report on inflation. A month ago, the reading on the consumer price index, or CPI, showed an unexpected acceleration in inflation. That dashed some hopes that inflation was peaking, and it sent the S&P 500 down 2.9%.

Since then, parts of the economy have already slowed as a result of inflation and the Fed’s actions combating it, particularly the housing market. Prices for oil and other commodities have also regressed as worries about a recession pull down expectations for demand.

“While some will draw parallels with the shockingly bad May CPI report, the backdrop is markedly different — commodity prices have fallen sharply and we’ve seen clearer signs of an economic slowdown, both of which will contribute to weaker price pressures ahead,” said Michael Pearce, senior U.S. economist with Capital Economics.

Or, as the chief investment officer of global fixed income at BlackRock puts it: “high prices is the cure for high prices.” High inflation is pushing households and businesses to pull back on spending, and the reduced demand should ultimately help pull down inflation, Rick Rieder wrote in a report.

Besides interest rates, which affect how much investors are willing to pay for stocks, investors this week are also getting updates on the other big factor that sets prices on Wall Street: how much profit companies are making.

Delta Air Lines fell 5% after it reported weaker profit for the spring than analysts expected. High prices for jet fuel and a spate of canceled flights in May and June dragged on its results.

Big banks and financial companies are coming up next, as the reporting season gets going for profits made from April through June.






Stocks capped another shaky day on Wall Street with more losses Wednesday, after a highly anticipated report on inflation turned out to be even worse than expected.

The S&P 500 ended 0.4% lower, its fourth consecutive drop, after tumbling as much as 1.6% earlier. The Dow Jones Industrial Average fell 0.7%, while the Nasdaq composite dropped 0.2%, erasing nearly all of an early 2.1% loss.


----------



## bigdog

Asian shares mixed after China says growth weakened in 2Q
					

BANGKOK (AP) — Share prices were mixed in Asia on Friday after China reported its economy contracted by 2.6% in the last quarter as virus shutdowns kept businesses closed and people at home.  Tokyo's Nikkei 225 index added 0.6% to 26,797.47.




					apnews.com
				




Stocks fall as JPMorgan warning helps send banks lower​By DAMIAN J. TROISE

NEW YORK (AP) — Stocks closed broadly lower on Wall Street Thursday as JPMorgan Chase opened the latest round of corporate earnings for big banks with weak results and a warning about the economy.

Wall Street is also assessing the latest government reports showing that inflation remains hot and shows no signs of cooling, even as central banks try to loosen its grip on businesses and consumers by hiking interest rates.

The S&P 500 fell 11.40 points, or 0.3%, to 3,790.38. Nearly three out of every four stocks in the benchmark index finished in the red. The Dow Jones Industrial Average fell 142.62 points, or 0.5%, to 30,630.17. The Nasdaq rose 3.60 points, or less than 0.1%, to 11,251.19.

Banks had some of the biggest losses and weighed heavily on the market. JPMorgan Chase fell 3.5% after reporting a sharp drop in earnings for its latest quarter, falling short of forecasts. CEO Jamie Dimon stuck by his warning earlier this summer that a “hurricane” may be headed for the economy.

“I haven’t changed my view at all,” he said in a conference call with journalists. “The negatives I pointed out, the risks in the future, are still the same risks. They’re nearer than they were before.”

Inflation and the Federal Reserve’s fight against it remain key concerns for Wall Street. Inflation at the wholesale level climbed 11.3% in June compared with a year earlier. It is the latest painful reminder that inflation is running hot, following a report on Wednesday that showed prices at the consumer level were 9.1% higher last month than a year earlier.

Pervasive inflation has been squeezing businesses and consumers for months. More importantly for Wall Street, it prompted an aggressive reversal for the Fed on its interest rate policy. The central bank is now raising rates in an effort to slow economic growth and cool inflation, but that has raised concerns that it could go too far and actually cause a recession.

Small-company stocks fell more than the broader market, in another signal that investors are worried about economic growth. The Russell 2000 fell 18.53 points, or 1.1%, to 1,707.51.

Several big technology companies rose and helped offset some of the losses elsewhere in the market. Apple rose 2%.

The yield on the 10-year Treasury, which affects mortgage rates, rose to 2.96% from 2.90% late Thursday. It remains lower than the two-year Treasury, which is at 3.12%. That’s a relatively rare occurrence, and some investors see it as an ominous signal of a potential recession.

The Fed has already raised rates three times this year and traders are increasingly expecting a monster rate hike of a full percentage point at the central bank’s next meeting in two weeks. Traders are betting on a 44% chance of a full-point hike, up from zero a month ago, according to CME Group.

Christopher Waller, a member of the Federal Reserve’s Board of Governors, said Thursday that he would be open to supporting such a move if upcoming economic data points to robust consumer spending.

“We went into this week feeling that the Fed would make a move significant enough to show it had more control” in fighting inflation, said Greg Bassuk, CEO at AXS Investments. “A meaty Fed rate hike alone does not rule out an opportunity for a soft landing, but the window is shrinking.”

Investors have grown increasingly worried as retail sales and other data point to an economy already slowing. That could make it more difficult for the Fed to make a so-called “soft landing,” where it raises rates just enough to cool inflation without causing a recession.

Concerns about the Fed’s rate hikes have prompted Bank of America to forecast a mild recession hitting the economy in the second half of the year and more pain for traders. The benchmark S&P 500 index has already slumped into a bear market, down 20% from its most recent high in January, and likely hasn’t hit bottom yet, according to the bank.

Investors are will get a clearer picture in the coming weeks about how badly inflation is hurting companies. Several more banks are on deck to report earnings Friday, including Citigroup and Wells Fargo, along with insurer UnitedHealth Group.





Stocks closed broadly lower on Wall Street Thursday as JPMorgan Chase opened the latest round of corporate earnings for big banks with weak results and a warning about the economy.

The S&P 500 fell 11.40 points, or 0.3%, to 3,790.38. Nearly three out of every four stocks in the benchmark index finished in the red. The Dow Jones Industrial Average fell 142.62 points, or 0.5%, to 30,630.17. The Nasdaq rose 3.60 points, or less than 0.1%, to 11,251.19


----------



## bigdog

Stocks end higher on Wall Street, still down for the week
					

Wall Street capped a week of losses with a broad rally for stocks Friday, as investors welcomed solid earnings from big companies and an encouraging report on consumer sentiment and inflation expectations.




					apnews.com
				




Stocks end higher on Wall Street, still down for the week​By DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped a week of losses with a broad rally for stocks Friday, as investors welcomed solid earnings from big companies and an encouraging report on consumer sentiment and inflation expectations.

A July survey from the University of Michigan showed that inflation expectations have held steady or improved, along with general consumer sentiment. The report was welcome following several government reports this week that showed consumer prices remained extremely hot in June, along with wholesale prices for businesses.

The report also bodes well for investors looking for signs that the Federal Reserve might eventually ease off its aggressive policy to fight inflation.

The S&P 500 rose 1.9%, snapping a five-day losing streak. Still, the gains weren’t enough to pull the benchmark index out of the red for the week.

The Dow Jones Industrial Average rose 2.1% and the Nasdaq gained 1.8%. Smaller company stocks outgained the broader market, sending the Russell 2000 index 2.2% higher. Those indexes also posted losses for the week, however.

“Investors are saying, look, ’we’ve seen this before, where the market goes up smartly one day, only to turn back around the next day,’” said Sam Stovall, chief investment strategist at CFRA.

Technology stocks, banks and healthcare companies made some of the biggest gains. PayPal climbed 6.3%. UnitedHealth Group rose 5.4% after raising its profit forecast for the year following a strong earnings report. Citigroup jumped 13.2% for the biggest gain in the S&P 500 after reporting encouraging financial results.

Bond yields mostly fell. The yield on the 10-year Treasury slipped to 2.92% from 2.96% late Thursday. The yield on the two-year Treasury rose to 3.14% from 3.13% late Thursday.

Inflation and its impact on businesses and consumers remains a key focus for Wall Street. The Federal Reserve has been raising interest rates in an effort to hit the brakes on economic growth, and curtail rising inflation. The Fed has already raised rates three times this year.

Wall Street has been worried that the Fed could go too far in raising rates and actually bring on a recession. Investors have been closely watching economic reports for clues as to how the central bank might react and the latest upbeat consumer sentiment report raises the chance of the Fed softening its current policy.

Traders have eased off of their bets that the Fed will issue a monster rate hike of 1% at its next policy meeting in two weeks. They now see a 30.9% chance of that happening, according to CME Group. That’s down significantly from Thursday. They now see a 69.1% chance of a three-quarters of a percentage point rate hike.

Economic data also shows that retail sales remain strong. A government report showed that retail sales rose 1% in June from May, topping economists’ expectations, while prices for everything from food to clothing rose.

All told, the S&P 500 rose 72.78 points to 3,863.16. The index has resisted dropping below 3,800, noted Stovall.

“Whenever we come down to about 3,800 and we bounce off it it’s a confirmation there are a lot of buyers at that level,” he said. “And we saw that yesterday as the market retested that level only to be pushed higher, and then today with encouraging fundamentals to go along with it.”

The Dow rose 658.09 points to 31,288.26 and the Nasdaq rose 201.24 points to 11,452.42. The Russell 2000 gained 36.87 points to 1,744.37.

Overseas, stocks in Hong Kong and Shanghai fell following a report that showed the Chinese economy shrank by 2.6% compared with the January-March period’s already weak quarter-on-quarter rate of 1.4%. China locked down major cities earlier this year to try and contain COVID-19 cases and more outbreaks this week in China and elsewhere in Asia have raised worries that COVID-19 controls might be restored, on top of existing precautions.

Investors have been reviewing the latest batch of corporate earnings to gain a clearer picture of inflation’s impact on businesses. Banks kicked things off with mixed results this week. Several big companies are on deck for next week, including Johnson & Johnson, Netflix, United Airlines and Twitter.


----------



## bigdog

Wall Street capped a week of losses with a broad rally for stocks Friday, as investors welcomed solid earnings from big companies and an encouraging report on consumer sentiment and inflation expectations.

The S&P 500 rose 1.9%, snapping a five-day losing streak. Still, the gains weren’t enough to pull the benchmark index out of the red for the week.

The Dow Jones Industrial Average rose 2.1% and the Nasdaq gained 1.8%. Smaller company stocks outgained the broader market, sending the Russell 2000 index 2.2% higher. Those indexes also posted losses for the week, however.


----------



## bigdog

Asian shares slip as investors eye inflation, earnings
					

TOKYO (AP) — Asian shares were mostly lower Tuesday, as investors weighed oil prices, inflation worries and corporate earnings.  Tokyo’s benchmark was higher but other major indexes declined in morning trading after an early rally evaporated on Wall Street.




					apnews.com
				




Wall Street rally fades as corporate profit reports ramp up​By STAN CHOE and ALEX VEIGA

Stocks closed lower on Wall Street Monday after an early rally evaporated by mid afternoon, marking a choppy start to a week full of updates on the two things that set stock prices: how much profit companies are making and where interest rates are heading.

The S&P 500 fell 0.8% after having been up 1% in the early going, The index broke a five-day losing streak at the end of last week. Gains in energy producers, big retailers and other companies that rely on consumer spending were outweighed by a pullback in health care and technology stocks. Goldman Sachs rose after reporting better profit for the spring than expected.

The Dow Jones Industrial Average fell 0.7% and the Nasdaq composite lost 0.8%.

“It was a pretty big gain earlier today, and it’s all gone,” said Liz Young, head of investment strategy at SoFi.

Young expects the market to remain volatile through July, mainly because of earnings season. Johnson & Johnson, American Airlines and Tesla are among the dozens of S&P 500 companies that are scheduled to issue quarterly snapshots this week.

“This is the first earnings season in the cycle where we’re probably going to get some pretty negative guidance and we’re going to hear about where companies are being squeezed and they’re going to be changing their outlook,” she said.

The S&P 500 fell 32.31 points to 3,830.85. The Dow slid 215.65 points to 31,072.61, and the Nasdaq gave up 92.37 points to 11,360.05. The Russell 2000 index of smaller companies also fell. It dropped 5.96 points, or 0.3%, at 1,738.42.

The afternoon reversal is the latest bout of volatile trading for the market, which has been lurching mostly lower for weeks on worries that the Federal Reserve and other central banks around the world will slam the brake too hard on the economy in hopes of bringing down high inflation. If they’re too aggressive with their interest-rate hikes, they could cause a recession.

“The Fed wants inflation data to come down and it’s not going to retract its claws until that happens,” Young said. “Pretty quickly the narrative is going to shift to, ‘will the Fed go too far?’”

Still, some on Wall Street are seeing signs for at least temporary optimism. Oil prices have come off their highs, though U.S. crude rose 5.1% Monday. A key report released last week also indicated expectations are easing for inflation among households. That could prevent a more vicious cycle from taking root and ease the pressure on the Federal Reserve.

Expectations have come down for how aggressively the Federal Reserve will raise interest rates at its meeting next week. Traders are now betting on a roughly one-in-three chance for a monster hike of a full percentage point, with the majority favoring a 0.75 percentage point increase. As recently as Thursday, the heavy bet was on a hike of a full point.

Economists at Goldman Sachs are among those forecasting a 0.75-point increase, which would match last month’s hike, instead of a more aggressive one. They cited in particular the softening of inflation expectations after Chair Jerome Powell said last month that the Fed pays close attention to them.

Across the Atlantic Ocean later this week, investors expect the European Central Bank on Thursday to raise interest rates for the first time in 11 years to combat inflation. Many investors expect an increase of 0.25 percentage points, “but more is not unthinkable,” economists wrote in a BofA Global Research report.

Interest rates are one of the two main levers that set prices for stocks. The other is corporate profits, which are under threat given high inflation and slowdowns in parts of the economy. For the moment, at least, analysts are still forecasting continued growth.

Earnings season kicked off last week, and banks have dominated the early part of the schedule for reporting how much they earned from April through June.

Goldman Sachs was among the latest to report, and it rallied 2.5% after its profit and revenue were better than analysts expected. Synchrony Financial rose 0.3% after it likewise topped forecasts for profit and revenue.

Bank of America closed essentially flat after it fell short of analysts’ profit expectations. Despite all the worries about a possible recession, Bank of America said its customers’ spending and deposits remain strong.

In markets overseas, Hong Kong’s Hang Seng index surged 2.7% after Chinese media reported that some stalled real estate projects had resumed construction after buyers threatened to stop their mortgage payments. Stocks in Shanghai added 1.6%.

Stocks also rose across much of the rest of Asia and Europe, with Germany’s DAX returning 0.7%.

In the bond market, the yield on the 10-year Treasury rose to 2.98% from 2.96% late Friday. The two-year yield, which rose to 3.17%, is still above the 10-year yield. Some investors see that as an ominous sign that could presage a recession in a year or two.

Underscoring worries about a recession have been recent reports showing slowdowns in parts of the economy because of the Fed’s rate hikes.

The housing market in particular has felt the effect of more expensive mortgage rates. A measure of sentiment among home builders released Monday weakened more than economists expected and sank to its lowest level in more than two years.





Stocks closed lower on Wall Street Monday after an early rally evaporated by mid afternoon, marking a choppy start to a week full of updates on the two things that set stock prices: how much profit companies are making and where interest rates are heading

The S&P 500 fell 32.31 points to 3,830.85. The Dow slid 215.65 points to 31,072.61, and the Nasdaq gave up 92.37 points to 11,360.05. The Russell 2000 index of smaller companies also fell. It dropped 5.96 points, or 0.3%, at 1,738.42.


----------



## bigdog

Asian markets climb, tracking profit-driven gains on Wall St
					

BANGKOK (AP) — Asian shares advanced Wednesday after Wall Street rallied to its best day in more than three weeks as companies reported strong profits for the past quarter.  Tokyo's Nikkei 225 jumped 2.5% to 27,631.50 while the Hang Seng in Hong Kong gained 2% to 21,068.85.




					apnews.com
				




Stocks sweep higher on Wall Street as profit reports roll in​By STAN CHOE and ALEX VEIGA

The stock market had its best day in more than three weeks Tuesday as more companies reported how much profit they made during the spring.

The S&P 500 climbed 2.8% after a powerful tide carried 99% of the stocks in the index higher. The Dow Jones Industrial Average rose 2.4% and the Nasdaq composite roared 3.1% higher.

Smaller company stocks rose even more, sending the Russell 2000 index 3.5% higher.

Stocks had dropped roughly 20% this year on worries about rising interest rates and high inflation, which puts an even brighter spotlight than usual on how much profit companies are making. If earnings hold up, it would provide a major support for markets. But if CEOs warn about troubles ahead, another tumble may be on the way.

“What we’re all enjoying today is a bit of a relief rally,” said Keith Buchanan, portfolio manager at Globalt Investments. “The tone with the latest earnings from the large banks has not been increasingly negative and investor sentiment is at record lows, so it doesn’t take very much to have an exciting, upside day.”

More types of companies are reporting how much they earned during the spring, broadening out from the banks that dominated the earliest part of the reporting season.

Toy company Hasbro rose 0.7% after it reported stronger profit than analysts expected. Oilfield services provider Halliburton added 2.1% after its profit and revenue topped forecasts. Netflix jumped 8% in after-hours trading after the company reported better-than expected results and a smaller subscriber loss than analysts had feared.

Twitter rose 2.8% after a court in Delaware agreed to quickly schedule a lawsuit that could force billionaire Elon Musk to make good on his agreement to buy the company.

IBM, though, fell 5.2% despite reporting stronger revenue and earnings than expected. The company’s profit margins fell short of some analysts’ expectations, and concerns are rising about the effect of the dollar’s recent strength against other currencies. While a stronger dollar helps limit inflation at home, it can also undercut the value of sales made abroad by U.S. companies.

The dollar’s value eased a bit against other currencies Tuesday, which allayed some fears for the market. So too, counterintuitively, may have a report that showed an extreme level of pessimism among investors.

Expectations for economic growth and profits have plunged, according to the latest results from Bank of America’s monthly survey of global fund managers. That has them sitting on their highest cash levels since 2001 and their lowest allocations to stocks since 2008.

“Full capitulation” is how Michael Hartnett, chief investment strategist, called it in a a BofA Global Research report. Contrarian investors see such dire levels of pessimism as an encouraging signal, which could presage better times ahead if everyone who was going to sell has already.

Given all those fears, though, big swings have become routine on Wall Street recently. The S&P 500 has been flip-flopping between weekly gains and losses over the last month, after a rough run where it dropped in 10 of 11 weeks. The swings have even hit hour to hour, with early morning gains quickly evaporating by the afternoon. On Monday, an early 1% gain gave way to a 0.8% loss.

On Tuesday, the S&P 500 ended 105.84 points higher at 3,936.69. The Dow jumped 754.44 points to 31,827.05, and the Nasdaq rose 353.10 points to 11,713.15. The Russell 2000 picked up 60.91 points to 1,799.32.

On Thursday, the European Central Bank is expected to raise interest rates for the first time in 11 years in hopes of knocking down high inflation.

The Federal Reserve has already raised rates three times this year, and by increasing amounts each time. It will announce its next increase next week, and the only question among investors is whether it will go with another increase of 0.75 percentage points or a colossal hike of a full point.

The yield on the two-year Treasury, which tends to track expectations for Fed action, rose to 3.24% from 3.17% late Monday. The 10-year yield rose to 3.02% from 2.96%.





The stock market had its best day in more than three weeks Tuesday as more companies reported how much profit they made during the spring.

The S&P 500 climbed 2.8% after a powerful tide carried 99% of the stocks in the index higher. The Dow Jones Industrial Average rose 2.4% and the Nasdaq composite roared 3.1% higher.


----------



## bigdog

Asia shares slip on inflation, China fears despite US rally
					

TOKYO (AP) — Asian shares mostly slipped Thursday as optimism over earnings was tempered by persistent concerns about inflation and the Chinese economy, despite an overnight rally on Wall Street. Eyes are on the Bank of Japan, set to wrap up a two-day policy meeting, although analysts expect no...




					apnews.com
				




Wall Street closes higher, adding to gains after big rally​By STAN CHOE and ALEX VEIGA

A choppy day on Wall Street ended with more gains for stocks Wednesday, as investors welcomed another batch of encouraging profit reports from U.S. companies.

The S&P 500 rose 0.6%, tacking more onto its big gains from a day earlier, when the benchmark index soared 2.8%, its best day in weeks.

The Dow Jones Industrial Average managed a modest 0.2% gain after recovering from a midafternoon pullback. The Nasdaq composite climbed 1.6%.

With the latest move higher the major indexes are on pace for a solid weekly gains.

“It’s not exactly the most robust day, but it’s nice to follow up on a day like yesterday,” said Ross Mayfield, investment strategist at Baird. “It feels like over the past couple of months good days have given it all back the very next day.”

Profit reporting season is ramping up, with more types of industries offering details about how high inflation and worries about a possible recession are affecting their customers. A lot is riding on whether they can continue to deliver healthy earnings.

Stocks tumbled roughly 20% from their highs this year because of rising interest rates, and proof that profits can remain strong would provide a big support for markets. On the other hand, warnings about upcoming weakness could kick off another leg downward.

For now, traders appear to be encouraged by what they’re hearing from companies, especially big banks, as the reporting season gets going.

“It wasn’t universal, but the broad takeaway from the big banks earlier is the consumer is doing alright, the data has confirmed that,” Mayfield said.

Companies so far have been mostly topping profit expectations this reporting season, as is usually the case, though the most recent reports were mixed.

Nasdaq, the company behind its namesake trading exchange, jumped 6.1% after delivering stronger profit and revenue than Wall Street expected. Omnicon Group, the advertising and public-relations company, rose 3.9% following better-than-expected earnings. Comerica, the Dallas-based financial services company, added 1.6% after it also reported stronger-than-expected results.

Netflix climbed 7.4% higher after it said it lost fewer subscribers during the spring than expected. It, though, remains the worst stock in the S&P 500 for the year, down by nearly two thirds.

Beyond Netflix, several other tech-oriented companies made strong gains. Amazon climbed 3.9%, and Nvidia jumped 4.8%, which helped boost the tech-heavy Nasdaq composite index.

On the losing end was Baker Hughes, which tumbled 8.3% after it reported weaker results for the spring than analysts expected. Northern Trust fell 4% after its profit fell short of forecasts.

All told, the S&P 500 rose 23.21 points to 3,959.90. The Dow added 47.79 points to 31,874.84. The Nasdaq rose 184.50 points to 11,897.65.

Smaller company stocks also gained ground. The Russell 2000 rose 28.62 points, or 1.6%, at 1,827.95.

In Europe, stocks slipped amid worries about whether Russia would restrict supplies of natural gas headed for the region after some maintenance on a key pipeline is scheduled to end Thursday. Germany’s DAX fell 0.2%, and French stocks dipped 0.3%.

The continent is also preparing for the first increase in interest rates by the European Central Bank in 11 years on Thursday, as it tries to beat back inflation.

The U.S. Federal Reserve has already hiked rates three times this year, by increasing margins each time. When it meets next week, investors say the only question is if it raises its key rate by another 0.75 percentage points or opts for a mega-hike of a full percentage point.

Expectations have recently been tilting toward the less aggressive option, with traders seeing better than a two-in-three chance for a 0.75-point increase, according to CME Group. That could mean less pressure on stocks, particularly tech stocks and others seen as the market’s more expensive, which have swung sharply with changes in forecast on what the Fed will do.

Such increases to rates make borrowing more expensive, which slows the economy. The hope is that the Federal Reserve and other central banks can deftly find the middle ground where the economy slows enough to whip inflation but not enough to cause a recession.

Some parts of the economy are already slowing because of the rate hikes, particularly the housing industry. A report on Wednesday morning showed that sales of previously occupied homes weakened last month by more than economists expected. Higher mortgage rates are dragging on the industry, along with high prices for homes.

In the bond market, the yield on the two-year Treasury, which tends to follow expectations for the Fed’s actions, edged up to 3.25% from 3.24% late Tuesday. The 10-year yield rose to 3.03% from 3.01% late Tuesday.





A choppy day on Wall Street ended with more gains for stocks Wednesday, as investors welcomed another batch of encouraging profit reports from U.S. companies.

All told, the S&P 500 rose 23.21 points to 3,959.90. The Dow added 47.79 points to 31,874.84. The Nasdaq rose 184.50 points to 11,897.65.


----------



## bigdog

Asian shares mostly higher after further gains on Wall St
					

BANGKOK (AP) — Asian shares were mostly higher on Friday after another day of gains on Wall Street amid a deluge of news about the economy, interest rates and corporate profits.  Tokyo, Hong Kong and Sydney advanced while Seoul and Shanghai declined.




					apnews.com
				




Stocks end higher as Wall Street’s winning week rolls on​By STAN CHOE and ALEX VEIGA

Stocks on Wall Street closed higher Thursday, building on their winning week, as investors sifted through a deluge of news about the economy, interest rates and corporate profits.

The S&P 500 rose 1% after shaking off an early stumble, returning to its highest level in six weeks. The Dow Jones Industrial Average also recovered from a midafternoon slide to end 0.5% higher, while the Nasdaq composite rose 1.4% as Tesla and technology stocks led the market.

Much of Wall Street’s focus was on Europe, where a yearslong experiment with negative interest rates came to a close. In the United States, reports suggested the economy is slowing more than expected, while a better-than-expected profit report from Tesla headlined a mixed set from the nation’s biggest companies. Stocks briefly lost ground after President Joe Biden tested positive for COVID.

At the center of this year’s sell-off for financial markets has been the world’s punishingly high inflation, and the moves made by central banks to squash it. On Thursday, the European Central Bank surprised markets when it raised interest rates by more than expected, its first increase in 11 years.

“I was trading right when the ECB (news) came out and it actually caused long-term bonds to rally,” said Jay Hatfield, CEO of Infrastructure Capital Advisors.

Investors also bid up stock prices. The S&P 500 rose 39.05 points to 3,998.95. The latest gains extended the benchmark index’s winning streak to a third day.

The Dow rose 162.06 points to 32,036.90, while the Nasdaq added 161.96 points at 12,059.61. The major indexes are all on pace for a weekly gain.

Smaller company stocks also rose. The Russell 2000 gained 8.74 points, or 0.5%, at 1,836.69.

As with the U.S. Federal Reserve, which is set to raise rates next week for a fourth time this year, the hope is that higher rates will slow the economy enough to beat back high inflation. The risk is that higher rates push down on investment prices, and too-aggressive hikes could cause a recession.

In the U.S., some areas of the economy have already begun to soften.

The highest number of workers filed for unemployment benefits last week in eight months, though it remains low compared with history. A separate report released Thursday morning showed manufacturing in the mid-Atlantic region weakened by significantly more than economists expected.

The discouraging data helped pull Treasury yields lower and could steer the Federal Reserve toward less aggressive hikes on interest rates. That in turn could help support stocks.

The two-year Treasury yield, which tends to move with expectations for the Fed, slumped to 3.09% from 3.25% late Wednesday. Forecasts among traders for what the Federal Reserve will do at its meeting next week have tilted toward an increase of 0.75 percentage points and away from a colossal hike of a full percentage point.

The 10-year yield, which influences mortgage rates, fell to 2.90% from 3.03%.

The primary reason stocks have rallied this week on Wall Street has been strong profit reports from big U.S. companies. If they can deliver continued growth despite high inflation, that would prop up one of the two main levers that set stock prices. The other depends on where interest rates go.

Tesla climbed 9.8% in the first trading after the electric-vehicle maker reported results for the spring that were better than analysts expected. It was the biggest gainer in the S&P 500.

Steelmaker Nucor jumped 9.1% after its results topped forecasts. Philip Morris International, the tobacco company, rose 4.2% after reporting stronger profit than expected.

On the losing side were airlines following some disappointing reports.

United Airlines tumbled 10.2% after its profit and revenue fell short of expectations. It also scaled back its plans for growth later this year. American Airlines fell 7.4% after it reported weaker earnings than expected, though its revenue topped forecasts.

AT&T sank 7.6% even though it reported better profit and revenue than Wall Street forecast. It cut its forecast for the amount of cash it will generate this year.

Stocks of energy companies also fell as the price of U.S. crude oil settled 3.5% lower.

European stocks ended mixed, with several events keeping the continent in the market’s spotlight beyond the European Central Bank’s momentous moves.

A key pipeline carrying natural gas into the region reopened Thursday, though worries continue that Russia may restrict supplies to punish allies of Ukraine. In Italy, Premier Mario Draghi resigned after his ruling coalition fell apart. That adds more uncertainty as Europe contends with the war in Ukraine, high inflation and the potential for trouble in Europe’s bond markets.

In Asia, Tokyo’s Nikkei 225 rose 0.4% after the Bank of Japan announced no major policy changes after a two-day meeting, as was widely expected. It’s been a holdout in the global rush to raise interest rates.





Stocks on Wall Street closed higher Thursday, building on their winning week, as investors sifted through a deluge of news about the economy, interest rates and corporate profits.

The S&P 500 rose 1% after shaking off an early stumble, returning to its highest level in six weeks. The Dow Jones Industrial Average also recovered from a mid-afternoon slide to end 0.5% higher, while the Nasdaq composite rose 1.4% as Tesla and technology stocks led the market.

The Dow rose 162.06 points to 32,036.90, while the Nasdaq added 161.96 points at 12,059.61. The major indexes are all on pace for a weekly gain.


----------



## bigdog

Slump for tech chops off chunk of Wall Street’s winning week
					

NEW YORK (AP) — Stocks slipped Friday, giving back some of their gains from earlier in the week as worries brewed about the global economy and prospects for profits at big internet companies.  The S&P 500 lost 0.9% to break a three-day rally that had carried Wall Street to its highest level in...




					apnews.com
				




Slump for tech chops off chunk of Wall Street’s winning week​By STAN CHOE

NEW YORK (AP) — Stocks slipped Friday, giving back some of their gains from earlier in the week as worries brewed about the global economy and prospects for profits at big internet companies.

The S&P 500 lost 0.9% to break a three-day rally that had carried Wall Street to its highest level in six weeks. The Nasdaq composite led the market lower with a 1.9% drop following worse-than-expected profit reports from Snap, Seagate Technology and other tech-oriented companies.

The Dow Jones Industrial Average held up better, slipping a more modest 0.4%. That was in large part because constituent American Express gave an encouraging earnings report and said its cardholders were spending more.

Sandwiched between last week’s dispiriting report on inflation and next week’s decision by the Federal Reserve on interest rates, the S&P 500 still delivered its best week in a month following a collection of mostly better-than-expected reports on corporate profits. Falling yields in the bond market also helped, easing the pressure on stocks after expectations for rate hikes by the Fed sent yields soaring much of this year.

On Friday the two-year Treasury yield tumbled again, to 2.98% from 3.09% late Thursday and from 3.14% a week ago, on worries about the economy. A report Friday morning indicated U.S. business activity may be shrinking for the first time in nearly two years, with service industries particularly weak.

“Manufacturing has stalled and the service sector’s rebound from the pandemic has gone into reverse, as the tailwind of pent-up demand has been overcome by the rising cost of living, higher interest rates and growing gloom about the economic outlook,” Chris Williamson, chief business economist at S&P Global Market Intelligence said in a statement accompanying the survey data.

Similar reports earlier in the morning also suggested weakness in Europe, underscoring how fragile the global economy is as central banks jack up interest rates in order to whip inflation. Higher rates make economic conditions more difficult, and too-aggressive hikes could cause a recession.

Friday’s reports are the latest to show parts of the economy are slowing more than expected. While that raises the threat of a recession, it also has traders ratcheting back expectations for the Federal Reserve’s aggressiveness next week. Instead of a full percentage point, traders now see an increase in rates of 0.75 percentage point as the most likely outcome.

The 10-year Treasury yield fell to 2.76% from 2.91% late Thursday.

In the stock market, the company behind the Snapchat app tumbled 39.1% after it reported a worse loss and lower revenue for the spring than Wall Street forecast.

The weakness for Snap could mean pressure on other companies that depend on internet advertising, which also happen to be among Wall Street’s most influential stocks. The parent companies of both Facebook and Google are scheduled to report their earnings next week. The pair fell 7.6% and 5.6% respectively on Friday, accounting for two of the heaviest weights on the S&P 500.

The S&P 500 lost 37.32 points to close at 3,961.63. The Dow fell 137.61 to 31,899.29, and the Nasdaq fell 225.50 to 11,834.11.

Adding to the pain for tech, data storage company Seagate Technology lost 8.1%. It said anti-COVID measures in Asia and slowing global economic conditions last quarter hit its results, which fell short of forecasts.

Verizon dropped 6.7% after its profit fell short of expectations, though its revenue squeaked past. It also cut its forecast for earnings this year.

On the winning side was American Express, which rose 1.9% after it delivered better profit for the spring than analysts expected. It said customers spent more on travel and entertainment in April than they did before the pandemic, the first time that’s happened.

The encouraging data bolstered some recent comments from CEOs at big banks, who said their customers appear to be in solid financial shape despite all the worries about inflation and the economy.

Despite Friday’s drops for Wall Street, the S&P 500 still rose 2.5% for the week.

Besides the easing of Treasury yields through the week, dropping prices for crude oil and other commodities also provided some relief on the inflation front. They add to some signals suggesting inflation may be close to peaking, such as easing expectations for inflation in future years, said Nate Thooft, senior portfolio manager at Manulife Investment Management.

“Inflation is the most important thing,” he said. “It’s not earnings, it’s not the Fed, it’s not interest rates themselves. It’s the uncertainty of inflation.”

“To me, as soon as you see real evidence that inflation is stabilizing and improving, all the other things also become less problematic,” he said. The war in “Ukraine is separate and off in the corner, but all the others are related, and the epicenter is inflation.”


----------



## bigdog

Stocks slipped Friday, giving back some of their gains from earlier in the week as worries brewed about the global economy and prospects for profits at big internet companies.


The S&P 500 lost 0.9% to break a three-day rally that had carried Wall Street to its highest level in six weeks. The Nasdaq composite led the market lower with a 1.9% drop following worse-than-expected profit reports from Snap, Seagate Technology and other tech-oriented companies.

The Dow Jones Industrial Average held up better, slipping a more modest 0.4%. That was in large part because constituent American Express gave an encouraging earnings report and said its cardholders were spending more.


----------



## bigdog

Asian stocks higher ahead of possible US rate hike
					

BEIJING (AP) — Asian stock markets were mostly higher Tuesday as investors braced for another sharp interest rate hike by the Federal Reserve  to cool inflation.




					apnews.com
				




Stocks closing mixed; Investors brace for Fed meeting​By ALEX VEIGA

Wall Street capped a choppy day of trading with a mixed finish for stock indexes Monday, as investors brace for another sharp interest rate hike by the Federal Reserve this week as the central bank combats inflation.

The S&P 500 edged up 0.1% after fluctuating between gains and losses. The Dow Jones Industrial Average rose 0.3%, while the tech-heavy Nasdaq Composite fell 0.4%.

Smaller company stocks fared better than the broader market, sending the Russell 2000 0.6% higher.

The major indexes are coming off solid gains last week following a mix of mostly better-than-expected reports on corporate profits. Falling yields in the bond market also helped, easing the pressure on stocks after expectations for rate hikes by the Fed sent yields soaring much of this year.

On Wednesday, most economists expect the Fed to announce a three-quarter percentage point hike in its short-term rate, a second consecutive hefty increase that it hasn’t otherwise implemented since 1994. It would put the Fed’s benchmark rate in a range of 2.25% to 2.5%, the highest since 2018.

Wall Street will closely watch a news conference by Fed Chair Jerome Powell on Wednesday to get a sense of policymakers’ next steps.

“The only question is will Powell sound a little less hawkish in his press conference, which could allow the market to continue to breathe a sigh of relief,” said Sam Stovall, chief investment strategist at CFRA.

The U.S. economy is slowing, but healthy hiring shows it isn’t yet in recession, Treasury Secretary Janet Yellen said Sunday on NBC’s “Meet the Press.” She spoke ahead of a slew of economic reports due this week that will shed light on an economy currently besieged by rampant inflation.

Since the Fed last met in June, the government has reported that inflation accelerated to a 9.1% annual rate, the most since 1981.

Still, some early signs suggest that inflation may be cooling from red-hot levels. Auto club AAA said on its website as of Monday that the average price of a gallon of regular gas is $4.36 per gallon. That’s down 16 cents from a week ago, and 55 cents cheaper than late June, when the average price was $4.91 per gallon. Crude oil prices have fallen nearly 10% this month alone.

Even so, elevated inflation is increasingly prompting consumers to reprioritize their spending.

Walmart’s shares fell nearly 10% in after-hours trading Monday after the retail giant lowered its profit outlook for the second quarter and full year. The company blamed surging inflation on basics like food that are forcing shoppers to cut back on discretionary items, particularly clothing, that carry higher profit margins.

Outside of the Fed meeting, the week’s highest-profile report will likely be Thursday, when the Commerce Department releases its first estimate of the economy’s output in the April-June quarter. Some economists forecast it may show a contraction for the second quarter in a row. The economy shrank 1.6% in the January-March quarter. Two straight negative readings is informally considered a recession.

On Wall Street, the S&P 500 rose 5.21 points to close at 3,966.84 Monday. The Dow gained 90.75 points to 31,990.04, and the Nasdaq fell 51.45 points to 11,782.67. The Russell 2000 added 10.89 points to 1,817.77.

Energy companies, banks and health care stocks helped lift the market Monday. Exxon Mobil rose 3.3% and Bank of America added 0.9%. UnitedHealth Group gained 1.5%.

Losses by technology and communications stocks kept indexes’ gains in check. Chipmaker Nvidia fell 1.7% and Meta closed 1.6% lower.

Restaurant chains, retailers and other companies that rely on direct consumer spending also fell. Olive Garden owner Darden Restaurants dropped 2.1%, while Dollar Tree fell 2.1%.

World Wrestling Entertainment jumped 8.4% after CEO Vince McMahon retired Friday amid an investigation into alleged misconduct.

Weber slumped 12.6% after the Illinois-based grill maker announced the departure of CEO Chris Scherzinger. It also pulled its 2022 forecast and suspended its dividend.

Newmont slid 13.2% for the biggest decline in the S&P 500 after the gold miner’s second-quarter earnings fell sharply from a year earlier amid higher costs and weaker gold prices.

Bond yields rose. The two-year Treasury yield, which tends to move with expectations for the Fed, rose to 3.04% from 2.97% late Friday. The 10-year yield, which influences mortgage rates, rose to 2.81% from 2.78%.

Earnings were mostly quiet, but pick up later this week when technology heavyweights like Apple, Meta, Microsoft and Amazon all report their results. Other big companies reporting this week include Coca-Cola and McDonald’s, where investors may look to see the impact of inflation on these inflation-conscious, consumer-facing companies.





Wall Street capped a choppy day of trading with a mixed finish for stock indexes Monday, as investors brace for another sharp interest rate hike by the Federal Reserve this week as the central bank combats inflation.

The S&P 500 edged up 0.1% after fluctuating between gains and losses. The Dow Jones Industrial Average rose 0.3%, while the tech-heavy Nasdaq Composite fell 0.4%.


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## bigdog

Asian stocks follow Wall Street ahead of likely US rate hike
					

BEIJING (AP) — Asian stock markets followed Wall Street lower Wednesday as traders prepared for a possible sharp interest rate hike from the Federal Reserve to cool inflation. Shanghai, Hong Kong and South Korea declined.




					apnews.com
				




Grim news from Walmart sends US markets lower​By ALEX VEIGA

Big retailers and technology companies led stocks lower on Wall Street Tuesday after Walmart warned that inflation is hurting American consumers’ spending power.

The sell-off comes ahead of the Federal Reserve’s latest interest rate policy statement on Wednesday, when economists expect the central bank to announce another sharp rate hike as it ratchets up its fight against surging inflation.

The S&P 500 fell 1.2%, wiping out nearly half of the benchmark index’s gains from last week. The Dow Jones Industrial Average dropped 0.7% and the tech-heavy Nasdaq Composite closed 1.9% lower.

Walmart slumped 7.6% after the retail giant cut its profit outlook for the second quarter and the full year late Tuesday, saying that rising prices for food and gas are forcing shoppers to cut back on more profitable discretionary items, particularly clothing.
The retailer’s profit warning in the middle of the quarter is rare and raised worries about how the highest inflation in 40 years is affecting the entire retail sector.

Stocks of other major chains also fell. Target dropped 3.6%, Macy’s slid 7.2% and Kohl’s fell 9.1%.
Investors have remained deeply concerned about inflation’s impact on company profits and how it will affect U.S. consumers. While Americans’ finances are relatively strong thanks to savings built up during the pandemic, those nest eggs are being spent on high gas and food prices.

The retailer’s profit warning in the middle of the quarter is rare and raised worries about how the highest inflation in 40 years is affecting the entire retail sector.

Stocks of other major chains also fell. Target dropped 3.6%, Macy’s slid 7.2% and Kohl’s fell 9.1%.

Investors have remained deeply concerned about inflation’s impact on company profits and how it will affect U.S. consumers. While Americans’ finances are relatively strong thanks to savings built up during the pandemic, those nest eggs are being spent on high gas and food prices.

“The client base of Walmart is obviously in probably the lower quarter or maybe lower third of the income brackets,” said Randy Frederick, managing director of trading & derivatives at Charles Schwab. “Those aren’t people that drive most of the discretionary spending anyway, but they are people who are most vulnerable to the inflation pressures.”

Stock indexes were in the red from the get-go Tuesday as traders reacted to Walmart’s announcement.

The S&P 500 fell 45.79 points to 3,921.05. The Dow lost 228.50 points to end at 31,761.54. The Nasdaq fell 220.09 points to 11,562.57.

The major indexes are coming off solid gains last week fueled by mostly better-than-expected reports on corporate profits. Falling yields in the bond market also helped, easing the pressure on stocks after expectations for rate hikes by the Federal Reserve propelled yields higher much of this year.

The central bank is expected to announce a rate hike of up to three-quarters of a percentage point on Wednesday, triple the usual amount. The central bank is waging an aggressive campaign to stem four-decade high inflation. The expected hike would put the Fed’s benchmark rate in a range of 2.25% to 2.5%, the highest since 2018.

Bond yields were mixed Tuesday. The two-year Treasury yield, which tends to move with expectations for the Fed, rose to 3.04% from 3.02% late Monday. The 10-year yield, which influences mortgage rates, fell to 2.80% from 2.82%.

Technology stocks, retailers and communication companies were among the biggest drags on the benchmark S&P 500 index. Microsoft fell 2.7%, Amazon slid 5.2% and Facebook owner Meta Platforms dropped 4.5%.

The losses easily outweighed gains by health care and utilities stocks. Small company stocks also fell. The Russell 2000 gave up 12.53 points, or 0.7%, to end at 1,805.25.

Investors eyed the latest batch of corporate earnings reports Tuesday.

Shares of automaker General Motors fell 3.4% after the company said its second-quarter profit fell 40% from a year ago, as computer chip and parts shortages hobbled factory output and drove the company’s U.S. sales down more than 15%.

The Detroit automaker earned $1.67 billion from April through June, well below the $2.79 billion it made a year earlier. GM couldn’t deliver 95,000 vehicles during the quarter because it lacked parts.

Shopify slumped 14.1% after the Canadian e-commerce company said it is cutting 10% of its staff, or about 1,000 employees, as it reckons with an unexpected sales downturn after pandemic-fueled growth.

Technology bellwethers Meta, Apple and Amazon report quarterly results later in the week.

“By the end of this week we’ll have a lot of big tech earnings and we’ll have a better feel for how that whole sector is going to go,” Frederick said. “People are maybe hedging a little bit ahead of that big onslaught of tech earnings that we’re going to get this week, plus obviously, there’s concern about the Fed tomorrow.”







The S&P 500 fell 1.2%, wiping out nearly half of the benchmark index’s gains from last week. The Dow Jones Industrial Average dropped 0.7% and the tech-heavy Nasdaq Composite closed 1.9% lower.

The S&P 500 fell 45.79 points to 3,921.05. The Dow lost 228.50 points to end at 31,761.54. The Nasdaq fell 220.09 points to 11,562.57.


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## bigdog

Asian shares, oil prices mostly higher after Fed rate hike
					

BANGKOK (AP) — Shares were mostly higher in Asia on Thursday after the Federal Reserve ratcheted up its campaign against surging inflation  by raising its key interest rate three-quarters of a point.




					apnews.com
				




US stocks jump after Fed rate hike; tech shares surge​By ALEX VEIGA

Technology companies led a broad rally for stocks on Wall Street Wednesday as investors welcomed another interest rate hike by the Federal Reserve as sign the central bank is ratcheting up its campaign to fight surging inflation.

In a widely expected move, the central bank raised its key interest rate by three-quarters of a point, lifting the rate to the highest level since 2018.

At a news conference, Chair Jerome Powell suggested the Fed’s rate hikes have already had some success in slowing the economy and possibly easing inflationary pressures. Some on Wall Street saw that as a signal the Fed may not have to raise rates as aggressively in coming months, triggering a rally in the final hour of regular trading.

The S&P 500 climbed 2.6% and the tech-heavy Nasdaq surged 4.1%, its biggest gain in over two years. The Dow Jones Industrial Average rose 1.4%. Smaller company stocks also gained, lifting the Russell 2000 2.4% higher.

Bond yields turned broadly lower following the Fed’s announcement. The two-year Treasury yield, which tends to move with expectations for the Fed, fell to 2.98% from 3.06% late Tuesday. The 10-year yield, which influences mortgage rates, fell to 2.77% from 2.79%.

Rate increases like Wednesday’s, the fourth so far this year, make borrowing more expensive and slow the economy. The hope is that the Fed and other central banks can deftly find the middle ground where the economy slows enough to whip inflation but not enough to cause a recession.

“The Fed raised rates by the expected 75 basis points but recognized that the economy is softening while the job market remains strong,” said Jay Hatfield, CEO of Infrastructure Capital Advisors. “The statement is slightly dovish and is bolstering the tech-led stock rally that started this morning.”

Some Wall Street analysts were less optimistic that the Fed may opt for more moderate rate hikes from here, especially since inflation has accelerated to 9.1%, the fastest annual pace in 41 years.

Charlie Ripley, senior investment strategist at Allianz Investment Management, called the hike “warranted.”

“That being said, recent economic data is now introducing a higher degree of uncertainty around the path of policy as we move forward from here,” Ripley said.

In a note Wednesday, analysts at Citi said that while Powell mentioned that a slowdown in hikes would be appropriate at some point, exactly when that might be remains undetermined, adding that they “would not view this as a particularly dovish comment.”

“We continue to expect core inflation to push the Fed to hike more aggressively than they or markets anticipate,” the analysts wrote, noting they expect the Fed will announce another three-quarter point increase at its September policy meeting, with further rate hikes continuing into early 2023.

The S&P 500 rose 102.56 points to 4,023.61. The Dow gained 436.05 points to close at 32,197.59. The Nasdaq rose 469.85 points to 12,032.42, and the Russell 2000 picked up 43.09 points to end at 1,848.34. The indexes are now all on pace for a weekly gain, extending Wall Street’s strong July rally. The S&P 500 is up 6.3% so far this month.

It’s not uncommon for stocks to rally when the Fed issues a new interest rate policy statement, only to sell-off the next day.

Stocks have been choppy this week following solid gains last week that were mainly fueled by better-than-expected reports on corporate profits.

Inflation remains at the forefront of investors’ minds, however. Markets were spooked Monday after retail giant Walmart warned that its profits are being hurt by rising prices for food and gas, which are forcing shoppers to cut back on more profitable discretionary items such as clothing.

The retailer’s profit warning in the middle of the quarter was rare and raised worries about how the highest inflation in 40 years is affecting the entire retail sector.

Meanwhile, some parts of the economy are already slowing because as the Fed has raised rates, particularly the housing industry. Sales of previously occupied U.S. homes slowed in June for the fifth month in a row as mortgage rates have climbed sharply this year. Expectations of higher overall rates has pushed up the 10-year Treasury yield, which influences rates on home loans.

Investors kept an eye on the latest batch of corporate earnings reports Wednesday, including strong earnings from Google’s owner Alphabet and Microsoft.

Shares in Microsoft and Google parent Alphabet rose 6.7% and 7.7%, respectively, after their latest quarterly reports. Boeing shares rose 0.1% after the aerospace company reported it delivered more planes in the first quarter than it has since the start of the pandemic.

Technology and communication services stocks accounted for a big share of the S&P 500′s gains. Nvidia rose 7.6% and Netflix added 6%.

Retailers, restaurant chains and other companies that rely on direct consumer spending also helped lift the market. Chipotle Mexican Grill jumped 14.7% after the restaurant chain reported second-quarter earnings that beat analysts’ forecasts.

Spotify Technology vaulted 12.2% after the music streaming service reported monthly active user and premium subscriber numbers that exceeded the Street’s expectations.





Technology companies led a broad rally for stocks on Wall Street Wednesday as investors welcomed another interest rate hike by the Federal Reserve as sign the central bank is ratcheting up its campaign to fight surging inflation.

The S&P 500 climbed 2.6% and the tech-heavy Nasdaq surged 4.1%, its biggest gain in over two years. The Dow Jones Industrial Average rose 1.4%. Smaller company stocks also gained, lifting the Russell 2000 2.4% higher.


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## bigdog

Asian shares mostly higher after rally on Wall Street
					

TOKYO (AP) — Asian shares were mostly higher on Friday following a broad rally on Wall Street, but Hong Kong’s benchmark sank more than 2%.  Investors appear to have grown more convinced that the Federal Reserve may temper  its aggressive interest rate hikes aimed at taming inflation after the...




					apnews.com
				




Wall Street closes higher after shaky start on GDP report​By ALEX VEIGA

Stocks closed broadly higher again Thursday as investors grew more optimistic that a slowing U.S. economy means the Federal Reserve can temper its aggressive interest rate hikes aimed at taming inflation.

The S&P 500 rose 1.2% as more than 80% of the stocks in the benchmark index closed higher. The Dow Jones Industrial Average gained 1% and the Nasdaq rose 1.1%. Smaller company stocks edged out the broader market, lifting the Russell 2000 by 1.3%.

The Commerce Department reported that the economy contracted at a 0.9% annual pace last quarter. The decline in the gross domestic product — the broadest gauge of the economy — followed a 1.6% annual drop from January through March. Consecutive quarters of falling GDP are an informal, though not definitive, indicator of a recession.

The GDP report signaled weakness across the economy. Consumer spending slowed as Americans bought fewer goods. Business investment fell. Inventories tumbled as businesses slowed their restocking of shelves, shedding 2 percentage points from GDP.

The Federal Reserve has made slowing the U.S. economy to tame the highest inflation in 40 years its goal by raising interest rates, most recently on Wednesday. The latest GDP report, along with other recent weak economic data, could be giving some investors confidence that the central bank will be able to ease up on the size of any further rate hikes in the months to come, analysts said.

“Sometimes bad news is good news,” said Megan Horneman, chief investment officer at Verdence Capital Advisors. “The Fed may not have to be as aggressive as once thought. That’s what investors are looking at.”

In a research note Thursday, Jonathan Golub, chief U.S. equity strategist at Credit Suisse Securities, said “Whether or not we are in a recession will be debated by academics in the months ahead. However, today’s report unequivocally reflects a substantial weakening in economic activity, and raises the likelihood of a dovish pivot by the Fed.”

Traders now see a 74% chance that the Fed will raise its key rate by a half-point at its next policy meeting in September, and only a 26% chance of another 0.75-point increase, according to CME Group.

The central bank raised its key short-term interest rate by 0.75 percentage points on Wednesday, lifting it to the highest level since 2018. The move sparked a broad market rally led by technology stocks that helped give the Nasdaq its biggest gain in over two years. The major indexes are now all on pace for a weekly gain, extending Wall Street’s strong July rally.

On Thursday, the S&P 500 rose 48.82 points to 4,072.43, while the Dow added 332.04 points to close at 32,529.63. The Nasdaq gained 130.17 points to 12,162.59. The Russell 2000 rose 24.69 points to 1,873.03.

Technology stocks and retailers, restaurant chains and other companies that rely on direct consumer spending helped lift the S&P 500 Thursday. Microsoft rose 2.9%, Target gained 3.1% and McDonald’s added 1.8% higher.

Communication services stocks were the only laggards. Meta Platforms fell 5.2% after the social media giant said its revenue fell last quarter for the first time ever, dragged down by a drop in ad spending.

In a busy week of corporate earnings reports investors have focused on what companies are saying about inflation and the impact rising interest rates are having on their business and customers.

Markets were spooked Monday after retail giant Walmart warned that its profits are being hurt by rising prices for food and gas, which are forcing shoppers to cut back on more profitable discretionary items such as clothing.

Stanley Black & Decker slumped 16.1% Thursday after the tool maker’s second-quarter results fell short of Wall Street’s estimates. The company noted that demand significantly slowed in May and June.

Oshkosh fell 6.2% after the Wisconsin-based maker of postal trucks and military vehicles reported weaker-than-expected quarterly results and lowered its 2022 profit guidance, citing lingering supply chain disruptions and inflation.

Apple’s profit and revenue fell in its April-June quarter, but the results still beat analysts’ forecasts. The iPhone maker’s shares rose 0.4%, but added 3.9% in after-hours trading following the release of its earnings report.

Amazon jumped more than 12% in after-hours trading. It reported its second-consecutive quarterly loss but its revenue topped Wall Street’s expectations. The stock closed 1.1% higher during regular trading.






Stocks closed broadly higher again Thursday as investors grew more optimistic that a slowing U.S. economy means the Federal Reserve can temper its aggressive interest rate hikes aimed at taming inflation.

The S&P 500 rose 1.2% as more than 80% of the stocks in the benchmark index closed higher. The Dow Jones Industrial Average gained 1% and the Nasdaq rose 1.1%. Smaller company stocks edged out the broader market, lifting the Russell 2000 by 1.3%


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## bigdog

Stocks rally again, close out best month since Nov. 2020
					

Stocks racked up more gains Friday as Wall Street closed out its best month since November 2020, a welcome breather for investors after a punishing year for the market.  The S&P 500 index, a benchmark for many stock funds, rose 1.4% and finished 9.1% higher for July.




					apnews.com
				




Stocks rally again, close out best month since Nov. 2020​By ALEX VEIGA

Stocks racked up more gains Friday as Wall Street closed out its best month since November 2020, a welcome breather for investors after a punishing year for the market.

The S&P 500 index, a benchmark for many stock funds, rose 1.4% and finished 9.1% higher for July. A rebound in technology stocks, big retailers and other companies that rely on direct consumer spending helped power the index’s broad gains this month. The index is still down 13.3% for the year.

The tech-heavy Nasdaq rose 1.9%, ending the month 12.4% higher, while the Dow Jones Industrial Average rose 1% and notched a 6.7% gain for the month.

The latest rally came as investors weighed a mix of company earnings reports and new data showing inflation jumped by the most in four decades last month.

Stock gains in recent weeks have been fueled by better-than-expected corporate earnings reports and falling bond yields, which have pulled back after soaring much of this year on expectations of higher interest rates.

“You’ve had 10-year Treasury yields come down precipitously,” said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. “With inflation so hot, I think the expectation is the Fed stays on path, but it’s damaging enough for the economy that they’re going to have to pivot in 2023.”

The S&P 500 rose 57.86 points to 4,130.29. The Dow gained 315.50 points to close at 32,845.13. The Nasdaq rose 228.09 points to 12,390.69.

Smaller company stocks also gained ground. The Russell 2000 rose 12.20 points, or 0.7%, to 1,885.23. It ended July with a 10.4% gain.

Weak economic data, including a report Thursday showing that the U.S. economy contracted last quarter and could be in a recession, have also spurred stocks higher by giving some investors confidence that the Federal Reserve will be able to dial back its aggressive pace of rate hikes sooner than expected.

The central bank raised its key short-term interest rate by 0.75 percentage points on Wednesday, lifting it to the highest level since 2018. The Fed is raising rates in a bid to slow the U.S. economy and quell inflation.

An inflation gauge that is closely tracked by the Federal Reserve jumped 6.8% in June from a year ago, the biggest increase in four decades, leaving Americans with no relief from surging prices. On a month-to-month basis, inflation accelerated to 1% in June from May’s 0.6% monthly increase, the Commerce Department said Friday.

The figures underscored the persistence of the inflation that is eroding Americans’ purchasing power, dimming their confidence in the economy and threatening Democrats in Congress in the run-up to the November midterm elections.

Some market watchers advised against placing too much emphasis on the June data, however.

“This inflation metric is for June and we know much has changed since then, especially gas prices, so investors should put this inflation report into historical context,” said Jeffrey Roach, chief economist for LPL Financial. “Looking ahead, July inflation rates will ease a bit from the previous month as food and energy costs should wane in July.”

Still, inflation hit one company in its earnings on Friday: consumer staples giant Proctor & Gamble. Shares in the maker of Tide laundry detergent fell 5.3% after the company said consumers were cutting back, but the company’s recent price increases were keeping profits up.

Other company earnings reports were more encouraging.

Exxon and Chevron posted record quarterly profits last quarter amid high oil and gas prices. The two companies made $46 billion last quarter and roughly four times the amount of money they made in the same period a year earlier. Chevron shares jumped 8.9% to a six-week high, while Exxon rose 4.6%.

Amazon surged 10.4% for the biggest gain in the S&P 500 after the company posted a quarterly loss, but its revenue jumped sharply in the quarter.

Apple rose 3.3% after its quarterly earnings came in better than Wall Street expected. The iPhone maker saw its profit for the April-June period decline by 10% while revenue edged up 2% as it grappled with manufacturing headaches and inflation pressures.

It was a mixed day in the bond market. The two-year Treasury yield, which tends to move with expectations for the Fed, rose to 2.89% from 2.87% late Thursday. The 10-year yield, which influences mortgage rates, fell to 2.65% from 2.67%.


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## bigdog

Stocks racked up more gains Friday as Wall Street closed out its best month since November 2020, a welcome breather for investors after a punishing year for the market.

The S&P 500 index, a benchmark for many stock funds, rose 1.4% and finished 9.1% higher for July. A rebound in technology stocks, big retailers and other companies that rely on direct consumer spending helped power the index’s broad gains this month. The index is still down 13.3% for the year.

The tech-heavy Nasdaq rose 1.9%, ending the month 12.4% higher, while the Dow Jones Industrial Average rose 1% and notched a 6.7% gain for the month.


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## bigdog

Stocks start August with slide after best month since 2020
					

Stocks on Wall Street gave up early gains and closed slightly lower Monday as investors began another busy week of company earnings and economic reports.  The S&P 500 gave up an early gain to end down 0.3%.




					apnews.com
				




Stocks slide to start August after best month since 2020​By DAMIAN J. TROISE and ALEX VEIGA

Stocks on Wall Street gave up early gains and closed slightly lower Monday as investors began another busy week of company earnings and economic reports.

The S&P 500 gave up an early gain to end down 0.3%. The Dow Jones Industrial Average dipped 0.1% and the Nasdaq fell 0.2%. Smaller company stocks also gave back some of their recent gains, nudging the Russell 2000 0.1% lower.

Bond yields mostly fell. The yield on the 10-year Treasury, which influences mortgage rates, fell to 2.60% from 2.65% late Friday.

August’s subdued opening follows a solid rally for stocks last month: July was the best month for the S&P 500 index since November 2020. But this week’s array of economic reports and company earnings has left traders “a little cautious,” said Lindsey Bell, chief markets and money strategist at Ally Invest.

“Investors are still assessing where we break from here – further to the upside or reverse course,” Bell said.

The benchmark S&P 500 index fell 11.66 points to 4,118.63. It’s coming off a 9.1% gain in July, but remains down 13.6% for the year.

The Dow lost 46.73 points to close at 32,798.40, while the Nasdaq slid 21.71 points to 12,368.98. The Russell 2000 ended down 1.92 points at 1,883.31.

Banks, health care companies and tech stocks were among the biggest weights on the S&P 500. JPMorgan Chase fell 1%, UnitedHealth Group dropped 1.3% and Intuit slid 1.7%.

U.S. crude oil prices fell 4.8%, dragging energy stocks lower. Exxon Mobil lost 2.5%.

Those losses outweighed solid gains by retailers and consumer products makers. Target rose 1.3% and Procter & Gamble rose 2.9%.

Boeing jumped 6.1% for the biggest gain in the S&P 500 after it cleared a key hurdle with federal regulators and could soon resume deliveries of its large 787 airliner.

Stocks have been falling for much of the year as investors worry about high inflation and rising interest rates. A key concern remains whether central banks will raise interest rates too aggressively and push economies into a recession.

The Federal Reserve raised its key short-term interest rate by 0.75 percentage points on Wednesday, lifting it to the highest level since 2018. The goal is to slow the U.S. economy to help temper the impact from inflation. An inflation gauge that is closely tracked by the Fed jumped 6.8% in June from a year ago, the biggest increase in four decades.

A surge in oil prices throughout the year only worsened the impact from inflation. U.S. crude oil prices are up roughly 25% in 2022 and that has raised gasoline prices in the U.S. to record levels.

A report last week showed that the U.S. economy contracted last quarter and could be in a recession. Stocks’ recent rally came as worrisome economic reports gave some investors confidence that the Fed can dial back its aggressive pace of rate hikes sooner than expected.

Several big companies are reporting earnings this week, which will give investors insight into how inflation is impacting businesses and consumers. Construction equipment maker Caterpillar and coffee chain Starbucks report earnings on Tuesday. Pharmacy chain CVS reports earnings on Wednesday.

More than half of the companies in the S&P 500 have reported their latest earnings results, which have been mostly better than expected. Many companies have also warned that inflation is hurting consumer spending and squeezing operations. Businesses have been increasing prices in an effort to keep up profits.

Wall Street will also get several updates on the job market, which has remained strong. The Labor Department will release its June survey on job openings and labor turnover on Tuesday and its closely-watched monthly employment report for July on Friday.





Stocks on Wall Street gave up early gains and closed slightly lower Monday as investors began another busy week of company earnings and economic reports.

The S&P 500 gave up an early gain to end down 0.3%. The Dow Jones Industrial Average dipped 0.1% and the Nasdaq fell 0.2%. Smaller company stocks also gave back some of their recent gains, nudging the Russell 2000 0.1% lower.

The Dow lost 46.73 points to close at 32,798.40, while the Nasdaq slid 21.71 points to 12,368.98. The Russell 2000 ended down 1.92 points at 1,883.31.


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## bigdog

Asian stocks higher as US-China tensions rise
					

BEIJING (AP) — Asian stock markets rose Wednesday as traders watched for signs trade might be disrupted by U.S.-Chinese tensions over an American lawmaker's visit to Taiwan. Shanghai, Hong Kong, Tokyo and Seoul advanced after Beijing announced a ban on imports of some Taiwanese goods but no...




					apnews.com
				




Stocks slip on Wall Street after another meandering day​By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — U.S. stocks dipped Tuesday following another day of meandering trading, as Wall Street debates whether the market’s strong recent run is the start of a turnaround or just a temporary blip.

The S&P 500 fell 27.44, or 0.7%, to 4,091.19 after drifting between a loss of 0.9% and a gain of 0.5% through the day. The Dow Jones Industrial Average dropped even more, losing 402.23, or 1.2%, to 32,396.17, largely because of a tumble for equipment maker Caterpillar. The Nasdaq composite held up better but still slipped 20.22, or 0.2%, to 12,348.76.

Treasury yields climbed through the day as concerns calmed a bit that the first visit by a U.S. Speaker of the House to Taiwan in 25 years could spark conflict between the world’s two largest economies. Analysts also cited comments by Federal Reserve officials that suggested continued hikes to interest rates are coming in order to knock down inflation.

The S&P 500 is down nearly 1% so far this week after spurting in July to its best month since late 2020. It was a rare winning stretch for the market, which has struggled this year under worries about the highest inflation in 40 years and rising interest rates from the Federal Reserve to combat it.

Some weak recent data on the economy heightened speculation that the peak for inflation and for the Federal Reserve’s aggressive rate hikes may be approaching or has already passed. The weak data, though, also shows the risk of a recession as the Fed puts the brake on the economy.

A report on Tuesday showed that U.S. employers posted fewer job openings in June, and the number was weaker than economists expected. A lot rides on whether the job market can remain resilient. It’s been helping to prop up the economy as inflation tears into the finances of households across the country.

On Friday, a report will show how many workers U.S. employers added last month, and economists expect it to show the unemployment rate remains very low even as hiring slowed.

More support for Wall Street recently has come from stronger-than-expected corporate profits for the spring. On Tuesday, rideshare company Uber surged 18.9% after it reported stronger revenue than analysts expected.

Other better-than-expected reports so far this earnings season have helped the S&P 500 climb 11.6% since hitting a low in mid June. Such rallies of more than 10% have historically been common within long-term down markets, though more sharp drops can quickly follow them. Since 1929, “bear markets,” which are what Wall Street calls a long-term drop of 20% or more for stocks, have seen an average of 1.5 such “bear market rallies,” strategists wrote in a BofA Global Research report. Savita Subramanian wrote in the report that she is sticking with her year-end target of 3,600 for the S&P 500, which would imply a further 12% drop.

One discouraging signal for investors came Tuesday from a profit report by Caterpillar, seen by some on Wall Street as an economic bellwether. Its stock fell 5.8% after the Illinois-based maker of backhoes and bulldozers reported weaker revenue for the latest quarter than analysts expected.

Much of Wall Street’s focus Tuesday was also centered across the Pacific Ocean on U.S. House Speaker Nancy Pelosi, whose plane touched down in Taiwan a little after trading began in New York. Her visit ratchets up tensions with China, which claims Taiwan as its own and quickly announced it would conduct military maneuvers in retaliation for her presence.

The worry in financial markets is that tensions could boil over, leading to blockages in international trade. China and Taiwan are together the source of half the semiconductor chips consumed by the world “and almost all of the latest high-tech chips,” High Frequency Economics chief economist Carl Weinberg wrote in a report.

Treasury yields fell in the morning with the worries but recovered as the day progressed. The 10-year yield rose to 2.75% from 2.61% late Monday.





The S&P 500 fell 27.44, or 0.7%, to 4,091.19 after drifting between a loss of 0.9% and a gain of 0.5% through the day. The Dow Jones Industrial Average dropped even more, losing 402.23, or 1.2%, to 32,396.17, largely because of a tumble for equipment maker Caterpillar. The Nasdaq composite held up better but still slipped 20.22, or 0.2%, to 12,348.76.


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## bigdog

Asian shares rise on optimism on economic data, earnings
					

TOKYO (AP) — Asian shares mostly rose Thursday as investors welcomed encouraging economic data and quarterly earnings reports from big companies.  Benchmarks rose across the region, including Japan, China, Australia and South Korea.




					apnews.com
				




US stocks rise following solid earnings reports​By DAMIAN J. TROISE and ALEX VEIGA

Stocks on Wall Street closed broadly higher Wednesday as investors welcomed encouraging economic data and quarterly earnings reports from big companies including Starbucks.

The S&P 500 rose 1.6% to an almost 2-month high, while the Nasdaq gained 2.6%. Both indexes more than recouped losses earlier in the week. The Dow Jones Industrial Average rose 1.3% and the Russell 2000 index of smaller companies ended 1.4% higher.

Technology companies, retailers and communications companies were some of the biggest winners. Only energy sector stocks fell, dragged down by lower oil prices.

Investors cheered a report on the services sector, which makes up the bulk of the U.S. economy. The sector grew faster than expected in July, according to the Institute for Supply Management. A separate report showed U.S. orders for big-ticket, durable goods increased more than expected in June.

Some weak recent data on the economy heightened speculation that the peak for inflation and for the Federal Reserve’s aggressive rate hikes may be approaching or has already passed. The weak data, though, also shows the risk of a recession as the Fed puts the brake on the economy.

That’s why Wednesday’s more positive economic reports helped put traders in a buying mood

“That just provides people with more evidence that this economy is hanging in there,” said Jeff Buchbinder, equity strategist for LPL Financial. “At this point, we have a combination of evidence that inflation is coming down.”

The S&P 500 rose 63.98 points to 4,155.17. It had been down nearly 1% for the week heading into Wednesday. It’s now up 0.6% for the week.

The Dow gained 416.33 points to 32,812.50. The Nasdaq added 319.40 points to end at 12,668.16. The Russell 2000 picked up 26.48 points to 1,908.93.

The yield on the 10-year Treasury fell to 2.71% from 2.73% late Tuesday.

The S&P 500′s bumpy start this week follows its best month since late 2020. July was a rare winning stretch for the market, which has struggled this year under worries about the highest inflation in 40 years and rising interest rates from the Federal Reserve to combat it.

Earnings remain in focus this week as investors parse the latest results and statements from companies to better understand how inflation is affecting businesses and consumers.

Drugstore chain CVS rose 6.3% after reporting solid financial results and raising its profit forecast for the year. Starbucks rose 4.3% after also reporting solid financial results. Nearly three-quarters of companies within the benchmark S&P 500 have reported earnings for the latest quarter and the results have mostly beaten analysts’ forecasts.

Several companies, though, have slipped amid disappointing results. Taco Bell owner Yum Brands fell 1.9% following a weak earnings report and online dating service company Match Group tumbled 17.6% after giving investors a weak financial forecast.

PayPal jumped 9.2% on a report that activist investor Elliott Management has taken a large stake in the payment company.

Robinhood Markets, whose stock trading app helped bring a new generation of investors to the market, rose 11.7% following an announcement that it’s cutting nearly a quarter of its workforce. Crashing cryptocurrency prices and a turbulent stock market have kept more customers off its app.

Oil prices fell following OPEC’s decision to boost production in September at a much slower pace than previous months. U.S. crude oil fell 4% to settle at $90.66 per barrel, while Brent crude, the international standard, settled 3.7% lower at $96.78 per barrel.

The pullback in oil prices weighed on energy sector stocks. Hess fell 3.6%

Markets are also watching for potential economic fallout from China after U.S. House Speaker Nancy Pelosi’s visit to Taiwan. China claims self-ruled Taiwan as part of its territory, and banned imports of Taiwanese citrus fruits and frozen fish in retaliation for Pelosi’s visit. But it has avoided disrupting the flow of computer chips and other industrial goods, a step that could jolt the global economy.

Upcoming data on the jobs market could help investors determine how the Federal Reserve will move ahead with its interest rate policy, which has been aggressive in an effort to try and tame inflation. U.S. jobless claims numbers for last week will be released Thursday, and the government issues its July jobs report on Friday.

“Expectations for Fed rate hikes maybe got a little bit too aggressive,” Buchbinder said. “We don’t know if we get a pause by year end, but there’s a decent chance we get a signal for a pause by year end.”






Stocks on Wall Street closed broadly higher Wednesday as investors welcomed encouraging economic data and quarterly earnings reports from big companies including Starbucks.

The S&P 500 rose 1.6% to an almost 2-month high, while the Nasdaq gained 2.6%. Both indexes more than recouped losses earlier in the week. The Dow Jones Industrial Average rose 1.3% and the Russell 2000 index of smaller companies ended 1.4% higher.


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## bigdog

Asian stock markets rise ahead of US jobs data
					

BEIJING (AP) — Asian stock markets rose Friday ahead of an update on the health of the U.S. jobs market while the Federal Reserve weighs whether more rate hikes are needed to cool surging inflation.




					apnews.com
				




US stocks end mixed amid earnings, economic updates​By DAMIAN J. TROISE and ALEX VEIGA

Stocks gave back some of their recent gains Thursday as a choppy day of trading on Wall Street ended with a mixed finish for the major indexes.

The S&P 500 closed 0.1% lower after wavering between small gains and losses. The Dow Jones Industrial Average fell 0.3%, while the Nasdaq rose 0.4%.

Energy stocks, the biggest gainers in the benchmark S&P 500 so far this year, were the biggest drag on the market as the price of U.S. crude oil fell below $90 per barrel for the first time since early February, before Russia’s invasion of Ukraine.

Gains in technology stocks, retailers and elsewhere helped keep the losses in energy, health care and other sectors in check.

The muted trading came as investors continued to review the latest updates on the economy and corporate earnings ahead of the government’s monthly snapshot of the nation’s job market Friday.

Investors are eyeing jobs data to gauge whether any tightening in the labor market might prompt the Federal Reserve to eventually ease up on its interest rate hikes as it fights inflation, potentially lessening the chance of the central bank bringing on a recession.

“They wanted to quell demand and temper inflation and they wanted to do so without unduly impacting the labor market in a negative way,” said Katie Nixon, chief investment officer for Northern Trust Wealth Management. “So far, the Fed is going to assess all of this as according to plan and they’re going to keep going.”

The S&P 500 slipped 3.23 points to 4,151.94, and the Dow dropped 85.68 points to 32,726.82. The Nasdaq rose 52.42 points to 12,720.58. The Russell 2000 index of smaller company stocks gave up 2.47 points, or 0.1%, to close at 1,906.46.

All of the major indexes except for the Dow are on pace for weekly gains after rallying Wednesday.

The price of U.S crude oil fell 2.3% to settle at $88.54 per barrel Thursday, weighing on energy company stocks. Exxon Mobil slid 4.2% and Occidental Petroleum fell 5.8%.

Health care stocks also lost ground. Eli Lilly dropped 2.6%.

Tech stocks and a mix of retailers, homebuilders and industrial companies made solid gains. Advanced Micro Devices climbed 5.9%, Amazon added 2.2%, Lennar rose 3.4% and Deere gained 1.7%.

Stocks have meandered this week, leaving major indexes mostly higher. August’s gain follows a standout July that was the S&P 500′s best month since late 2020. But markets remain volatile as investors try to determine the economy’s path ahead amid the highest inflation in four decades and efforts from central banks to fight higher prices.

Earnings remain in focus on Wall Street as investors look for more clues on how inflation is impacting various industries. Twinkie maker Hostess fell 3.9% after giving investors a disappointing profit forecast for the year. Bleach and consumer products maker Clorox fell 4.7% after also announcing a weak earnings forecast.

Companies have been raising prices on everything from food to clothing to help offset the impact of inflation on supply chains, but the pressure has become too much for many consumers. A surge in gasoline prices throughout the year worsened inflation and prompted spending cutbacks.

The Federal Reserve has been aggressively raising interest rates to try and slow the economy and fight inflation, along with other central banks. The Bank of England on Thursday initiated its biggest rate hike in more than a quarter century.

Recent economic data from retail sales and employment reports has shown that the economy is already slowing down.

“The cure for high inflation is sometimes high inflation,” Nixon said. “The narrative that we might have been at or past peak inflation is being validated by some of the data coming out.”

The surge in consumer demand and lack of supplies for many goods initially drove inflation. The resulting higher prices have now prompted consumers to ease off of spending. But, the Fed’s aggressive interest rate policy has investors concerned that the central bank could hit the brakes on the economy too hard and veer it into a recession.

That concern is being reflected by the bond market, where the yield on the two-year Treasury remains higher than the yield on the 10-year Treasury. It’s a relatively rare occurrence that some see as a precursor for a recession within a year or two.

The yield on the 10-year Treasury fell to 2.66% from 2.74% late Wednesday.

A bright point in the broader economy has been a strong employment market. New data from the Labor Department on Thursday showed the number of Americans applying for jobless benefits last week rose in line with expectations, as the number of unemployed continues to rise modestly.

The latest data follows updates earlier this week showing that job openings eased, but still remain at record highs. The Labor Department’s July jobs report on Friday is expected to show some signs of tightening.





Stocks gave back some of their recent gains Thursday as a choppy day of trading on Wall Street ended with a mixed finish for the major indexes.

The S&P 500 closed 0.1% lower after wavering between small gains and losses. The Dow Jones Industrial Average fell 0.3%, while the Nasdaq rose 0.4%.


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## bigdog

Wall Street falls as jobs data suggests Fed hikes not over
					

NEW YORK (AP) — Stock indexes closed mostly lower Friday after a roller-coaster day following a blockbuster report on the U.S. jobs market that offered both good and bad news for Wall Street.  The benchmark S&P 500 ended just 0.2% lower after recovering from an early slide as investors reacted...




					apnews.com
				




Wall Street falls as jobs data suggests Fed hikes not over​By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Stock indexes closed mostly lower Friday after a roller-coaster day following a blockbuster report on the U.S. jobs market that offered both good and bad news for Wall Street.

The benchmark S&P 500 ended just 0.2% lower after recovering from an early slide as investors reacted to the report, which showed that U.S. employers unexpectedly added hundreds of thousands more jobs than forecast last month.

The blistering data suggests the economy may not be in a recession, as feared. But it also undercuts investors’ speculation that a slowing economy may mean a peak for inflation soon. That means the Federal Reserve may not let up on its aggressive rate hikes to combat inflation as early as hoped. And much of Wall Street still revolves around expectations for rates.

“It’s a reminder for investors on how uncertain Fed policy is going forward and the strong jobs market data shows just how far the Fed has to go,” said Charlie Ripley, senior investment strategist at Allianz Investment Management.

Stocks of technology and other high-growth companies once again took the brunt of the selling amid the rising-rate worries. The tech-heavy Nasdaq composite cut its early losses and closed down 63.03 points, or 0.5%, at 12,657.55.

The good news on the jobs market helped to limit losses for the Dow Jones Industrial Average, whose stocks tend to move more with expectations for the overall economy. It added 76.65 points, or 0.2%, to close at 32,803.47.

The S&P 500 slipped 6.75 points to end at 4,145.19. Both the S&P 500 and Nasdaq posted a gain for the week.

Beyond the nation’s strong hiring, wage growth for workers also unexpectedly accelerated last month. That’s helpful for households trying to keep up with the fastest price gains in 40 years. But it also raises worries on Wall Street that inflation will become more embedded in the economy.

Higher wages can cause companies to raise prices for their own products to sustain profits, which can lead to something economists call a “wage-price spiral.”

To be sure, some market watchers also pointed to numbers within Friday’s employment report suggesting the jobs market may not be as strong as the overall numbers imply. The number of people with multiple jobs rose by more than half a million, for example, said Brian Jacobsen, senior investment strategist at Allspring Global Investments.

“That was mostly from people who already have a full time job and then the second job is part time,” he said. “Maybe this is more superficially impressive than substantively impressive.”

Wall Street’s clearest moves came from the bond market, where Treasury yields shot higher immediately after the release of the jobs data. The two-year Treasury yield, which tends to track expectations for Fed action, jumped to 3.23% from 3.05% late Thursday. The 10-year yield, which influences rates on mortgages, rose to 2.84% from 2.69%.

Wall Street is coming off the best month for stocks since late 2020, a rally driven mostly by what had been falling yields across the bond market. The hope on Wall Street had been that the economy was slowing enough to get the Fed to ease up on its rate hikes.

Higher mortgage rates had cut into the housing industry, in particular, after the Fed raised its short-term rates four times this year. The last two increases were triple the usual size, and the Fed has raised its benchmark overnight rate from nearly zero by 2.25 percentage points.

“Today’s print, coming in much stronger than anticipated, complicates the job” of the Federal Reserve, Rick Rieder, BlackRock’s chief investment officer of global fixed income, said in a statement. He said the assumption now becomes the Fed raising short-term rates by another 0.75 percentage points next month, unless next week’s highly anticipated report on inflation “shows some dramatic weakness, which seems highly unlikely at this point.”

Traders scrambled to place bets for bigger hikes coming out of the Fed’s next meeting. They have flipped their expectations from a day earlier and now largely expect the Fed to hike by 0.75 percentage points, instead of by half a point.

Such increases hurt investment prices in the near term, and they raise the risk of recession further down the line because they slow the economy by design.

*12 Month Chart   Dow Nasdaq S&P*


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## bigdog

New York
Stock indexes closed mostly lower Friday after a roller-coaster day following a blockbuster report on the U.S. jobs market that offered both good and bad news for Wall Street.


----------



## bigdog

Asian shares mostly decline on global technology downturn
					

TOKYO (AP) — Asian shares mostly declined Tuesday amid a global fall in technology shares, including Japan's SoftBank, which has reported hefty losses caused by the market downturn.  Such worries are coming on top of concerns about inflation and what central banks might do to curb that trend.




					apnews.com
				




Wall Street ending flat as investors await inflation updates​By DAMIAN J. TROISE and ALEX VEIGA

Major stock indexes on Wall Street gave up early gains and ended a choppy day of trading little changed Monday.

The S&P 500 and Nasdaq each slipped 0.1% after shedding gains of 1% and 1.6%, respectively. The Dow Jones Industrial Average closed 0.1% higher.

Small-company stocks outpaced the broader market in a sign that investors were confident about the economy. The Russell 2000 rose 1%.

The market’s latest gyrations came as investors prepare for a busy week of economic updates that could help answer whether the Federal Reserve’s efforts to cool the economy and quell inflation are working, or whether the central bank will continue aggressively raising interest rates. Wall Street is worried that the Fed could hit the brakes too hard and cause a recession.

“Early indications of inflationary pressures appear to be easing, which will be an important catalyst for the market,” said Quincy Krosby, chief global strategist for LPL Financial.

The S&P 500 fell 5.13 points to 4,140.06, while the Nasdaq slid 13.10 points to 12,644.46. The Dow added 29.07 points to close at 32,832.54. The Russell 2000 rose 19.38 points to 1,941.21.

The benchmark S&P 500 index is coming off three consecutive weekly gains. Investors remain focused on inflation and its impact on businesses and consumers, along with the Federal Reserve’s efforts to fight higher prices. The central bank has been aggressively raising interest rates to pump the brakes on economic growth and rein in record-high inflation. The Fed is expected to hike short-term interest rates by another 0.75 percentage points at its next meeting.

The Federal Reserve Bank of New York on Monday released a survey of consumer expectations from July showing that there were “substantial declines” in inflation expectations for everything from food and gas to home prices.

The Labor Department will release its July report for consumer prices on Wednesday, followed by its report for prices at the wholesale level on Thursday.

This week’s inflation updates follow reports last week showing the employment market remains strong. While that’s good for the economy, it has complicated the job of the Fed, which may be forced to continue with aggressive interest rate hikes intended to cool the economy and soaring inflation.

Investors are still reviewing the latest round of corporate earnings, which could also provide more details on how hard inflation is hitting consumers and businesses. Nvidia fell 6.3% for one of the biggest declines in the S&P 500 after it warned investors that its second-quarter revenue will fall short of forecasts because of weaker gaming revenue.

Generic drugmaker Viatris rose 3.7% after beating Wall Street’s second-quarter earnings and revenue forecasts.

Technology stocks were the biggest drag on the market Monday, outweighing modest gains in other sectors. Pricey stocks in the sector tend to push the market higher or lower with more weight. Microsoft fell 0.9%.

Retailers and communications stocks were among the biggest winners. Best Buy rose 2.8% and Facebook’s parent, Meta Platforms, rose 1.9%.

Clean energy companies gained ground following the Senate’s approval for Democrats’ big election-year economic package, which includes funding to help fight climate change. First Solar rose 4.7%.

Bond yields fell. The yield on the 10-year Treasury, which influences interest rates on mortgages and other consumer loans, slipped to 2.76% from 2.83% late Friday.





Major stock indexes on Wall Street gave up early gains and ended a choppy day of trading little changed Monday.

The S&P 500 and Nasdaq each slipped 0.1% after shedding gains of 1% and 1.6%, respectively. The Dow Jones Industrial Average closed 0.1% higher.


----------



## bigdog

Asian stocks fall ahead of US inflation
					

BEIJING (AP) — Asian stocks followed Wall Street lower Wednesday ahead of U.S. inflation data that traders worry will show upward pressure on prices still is too strong for the Federal Reserve to ease off interest rate hikes.




					apnews.com
				




Wall Street slips as weak earnings hit tech, travel stocks​By DAMIAN J. TROISE and ALEX VEIGA
https://apnews.com/article/inflatio...70ae/gallery/d0ceedbee208410fa4ea14faee9965e2
Stocks on Wall Street extended their recent run of losses Tuesday as investors reviewed disappointing earnings reports and looked ahead to the release of an inflation snapshot closely watched by the Federal Reserve.

The S&P 500 fell 0.4%, marking its fourth consecutive drop. The Dow Jones Industrial Average fell 0.2% and the Nasdaq slid 1.2%.
Smaller company stocks also gave up ground, sending the Russell 2000 index 1.5% lower.

Technology companies and retailers were the biggest drags on the market, outweighing gains in energy, financials and elsewhere. Bond yields rose broadly.

The selling likely reflects profit-taking by investors ahead of Wednesday’s consumer price index report, said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

The headline figure is expected to show a smaller annual increase in July than in June, according to FactSet. But core inflation, which strips out volatile energy and food costs, leaving rent and other big-ticket purchases, is expected to come in higher than in June.

“With core (inflation) being the more important of the two, the fact that it hasn’t peaked yet and may not peak for a few months to come, given how much momentum we’re seeing in rent increases, in wage increases, that’s going to be the real problem for the Fed,” Samana said. “How to cool that down, especially when the economy is adding as many jobs as it is?”

The S&P 500 fell 17.59 points to 4,122.47. The Dow slipped 58.13 points to close at 32,774.41. The Nasdaq dropped 150.53 points to 12,493.93. The Russell 2000 ended down 28.31 points at 1,912.89.

After a surprisingly strong 9.1% gain in July, the benchmark S&P 500 index has been mostly selling off this month as Wall Street tries to gauge how aggressively the Federal Reserve will continue to raise interest rates in order to combat inflation and what that will mean for the economy and corporate profits.

The U.S. Labor Department will release its July report for consumer prices Wednesday, followed by its producer prices report on Thursday. Investors and economists will look for any signs that the Federal Reserve’s aggressive rate hikes the past few months have helped to bring inflation under control.

“Regardless of that number, there’s still going to be an environment where they’re raising rates,” said Michael Landsberg, chief investment officer of Landsberg Bennett Private Wealth Management.

The Fed has raised rates four times this year in an effort to hit the brakes on the economy and cool the hottest inflation in four decades. Wall Street is worried that the central bank could slam the brakes too hard and tip the economy into a recession. Last week’s strong July jobs report has most economists predicting the Fed will again raise short-term interest rates by as much as another three-quarters of a point at its September meeting.

Most economic data already points to a slowdown. The U.S. economy has now contracted for two straight quarters, which constitutes an informal indicator of a recession. But recession fears have been tempered by a hot jobs market with unemployment at historic lows. While that’s good for the economy, it’s a sign that inflation persists.

Investors have also been closely watching the latest round of corporate earnings and economic data for clues on how inflation is hurting consumers and businesses.

Chipmaker Micron Technology fell 3.7% after warning investors that revenue could fall short of forecasts because of weakening demand. That warning hit other chipmakers hard, with Nvidia shedding 4%.

Norwegian Cruise Line plunged 10.6% for the biggest drop in the S&P 500 after reporting disappointing financial results and giving investors a weak revenue forecast. The weak results weighed down travel-related stocks. Expedia fell 1.6% and American Airlines fell 2.7%.

As the earnings season winds down, Disney, Wendy’s and Wynn Resorts will be reporting quarterly results this week.

Also on Tuesday, audience rating company Nielsen surged 21.2% after it announced progress on a deal to be acquired by private equity firms.

Bond yields rose. The yield on the 10-year Treasury rose to 2.79% from 2.75% late Monday.





Stocks on Wall Street extended their recent run of losses Tuesday as investors reviewed disappointing earnings reports and looked ahead to the release of an inflation snapshot closely watched by the Federal Reserve.

The S&P 500 fell 0.4%, marking its fourth consecutive drop. The Dow Jones Industrial Average fell 0.2% and the Nasdaq slid 1.2%.
Smaller company stocks also gave up ground, sending the Russell 2000 index 1.5% lower.


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## bigdog

Asian shares track Wall Street gains on cooling inflation
					

BANGKOK (AP) — Shares advanced Thursday in Asia after benchmarks closed at three-month highs on Wall Street as investors cheered a report showing inflation cooled more than expected in July.  Hong Kong, Shanghai and Seoul saw gains of more than 1%.




					apnews.com
				




Wall Street hits 3-month high as inflation cools​By STAN CHOE and DAMIAN J. TROISE

NEW YORK (AP) — Stocks rallied to three-month highs on Wall Street Wednesday as investors welcomed a government report showing that inflation cooled more than expected last month.

The encouraging inflation update sparked speculation that the Federal Reserve may not have to remain as aggressive about hiking interest rates as feared. The central bank has been raising rates in an effort to slow the economy in the hopes of stamping out inflation, but that risks bringing on a recession if the Fed moves too aggressively.

The S&P 500 rose 87.77 points, or 2.1%, to 4,210.24. The gains broke a four-day losing streak and pushed the benchmark index to its highest levels since early May. It is now nearly 15% above its mid-June low.

The Nasdaq composite, whose many high-growth and expensive-looking stocks have been particularly vulnerable to interest rates, jumped 360.88 points, or 2.9%, to 12,854.80. It’s up more than 20% from June.

The Dow Jones Industrial Average rose 535.10 points, or 1.6%, to 33,309.51.

Technology stocks, cryptocurrencies and other of the year’s hardest-hit investments were some of the day’s biggest winners. Bitcoin rose 2.2% to just under $24,000.

Lower prices for gasoline and oil was responsible for much of last month’s inflation surprise. But even after ignoring that and volatile food prices, so-called “core inflation” held steady last month instead of accelerating as economists had forecast.

The data encouraged traders to scale back bets for how much the Fed will raise interest rates at its next meeting. They now see a hike of a half percentage point as the most likely outcome, according to CME Group. A day earlier, they were betting on a more aggressive hike of 0.75 percentage points, the same as the last two increases.

Such differences may not sound like much, but interest rates help set where prices go across financial markets. And higher rates tend to pull down prices for everything from stocks to commodities to crypto.

Prices for bonds soared immediately after the inflation report’s release, pulling their yields lower. The yield on the two-year Treasury, which tends to track expectations for the Fed, fell to 3.19% from 3.27% late Tuesday.

The 10-year yield initially fell, though stabilized later in trading. It edged higher to 2.79% from 2.78% late Tuesday. It remains below the two-year yield and many investors see such a gap as a fairly reliable signal of a coming recession

Recession worries have built as the highest inflation in 40 years squeezes households and corporations around the world. Wall Street is closely watching to see if the Fed can succeed in hitting the brakes on the economy and cooling inflation without veering into a recession.

“It’s a very knife edge type of path that they are trying to tread here,” said Brian Nick, chief investment strategist at Nuveen.

To be sure, inflation is still painfully high, and the expectation is for it to stay so for a while. But Wednesday’s data nevertheless rejuvenated Wall Street, which staggered following a stronger-than-expected jobs report on Friday that raised expectations for a more aggressive Fed. It bolstered hopes that a peak in inflation — and thus in the Federal Reserve’s most aggressive rate hikes — may be on the horizon.

“This is a step in the right direction but keep in mind we have many miles ahead of us before inflation normalizes,” said Mike Loewengart, managing director, investments strategy, at E-Trade from Morgan Stanley.

The Federal Reserve will get a few more highly anticipated reports before its next announcement on interest rates Sept. 21, which could also alter its stance. Those include reports showing hiring trends across the economy due Sept. 2 and the next update on consumer inflation coming on Sept. 13.

More immediately, reports this week will show how inflation is doing at the wholesale level and whether U.S. households are still ratcheting down their expectations for coming inflation, an influential data point for Fed officials.

Wednesday’s inflation data nevertheless helped stocks across Europe climb to modest gains, while markets that closed earlier in Asia were mostly down. Germany’s DAX returned 1.2%, Japan’s Nikkei 225 fell 0.6% and Hong Kong’s Hang Seng lost 2%.

On Wall Street, companies in the housing industry were strong on hopes that a less aggressive Fed could mean less pressure on mortgage rates. Homebuilder D.R. Horton gained 4.7%, PulteGroup rose 4.6% and Lennar was 3.6% higher.






Stocks rallied to three-month highs on Wall Street Wednesday as investors welcomed a government report showing that inflation cooled more than expected last month.

The S&P 500 rose 87.77 points, or 2.1%, to 4,210.24. The gains broke a four-day losing streak and pushed the benchmark index to its highest levels since early May. It is now nearly 15% above its mid-June low.

The Nasdaq composite, whose many high-growth and expensive-looking stocks have been particularly vulnerable to interest rates, jumped 360.88 points, or 2.9%, to 12,854.80. It’s up more than 20% from June.

The Dow Jones Industrial Average rose 535.10 points, or 1.6%, to 33,309.51.


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## CityIndex

bigdog said:


> The S&P 500 rose 87.77 points, or 2.1%, to 4,210.24. The gains broke a four-day losing streak and pushed the benchmark index to its highest levels since early May. It is now nearly 15% above its mid-June low.



The S&P500’s close above 4200 could be extremely significant as the index had been showing signs of topping out. However, the market now needs to build on this breakout to signal that this is a sustainable rebound.

Of course, all trading carries risk, and if SPX fails to overcome selling pressure around this key level over the remainder of the week, it could be exposed to deeper pullback.


----------



## bigdog

Asian shares mixed after new signs of cooling inflation
					

BANGKOK (AP) — Shares were mixed Friday in Asia after a muddled day on Wall Street, where benchmarks meandered following another encouraging report about inflation.




					apnews.com
				




Stocks close mixed after new signs of cooling inflation​By STAN CHOE and ALEX VEIGA

NEW YORK (AP) — An afternoon pullback left stock indexes on Wall Street with a mixed finish Thursday, erasing most of their gains from a morning rally over new signs of cooling inflation.

The S&P 500 closed 0.1% lower after having been up 1.1% in the early going. The Nasdaq fell 0.6%, while the Dow Jones Industrial Average eked out a 0.1% gain.

The indexes got a big boost early on following a report showing inflation at the wholesale level slowed more than economists expected last month. The report, which came a day after a cooler-than-expected reading on inflation at the consumer level, bolstered hopes among investors that inflation may be close to a peak and that the Federal Reserve will be less aggressive about raising interest rates than feared.

Even so, the morning rally didn’t hold. The selling coincided with a sharp upward move in bond yields and rising energy prices, which have been a central component of higher inflation.

“People stepped back and the inflation outlook isn’t that much different than what it was before,” said Willie Delwiche, investment strategist at All Star Charts. “There’s still a lot of work for the Fed to do. Maybe a little bit too much short-term euphoria kind of got in the market.”

Inflation is still painfully high, of course, and the economy has given false signals before that relief was on the way only for the rug to get pulled out from underneath investors. Some Fed officials also made comments after Wednesday’s inflation report suggesting their battle against rising prices is far from over. But enough hope for a peak in inflation and Fed aggressiveness has built that the S&P 500 has roughly halved its losses from earlier in the year, and it’s up more than 14% from its bottom in mid-June.

Technology stocks and other investments beaten down the most earlier in the year by the Fed’s aggressive rate hikes have been among the strongest, and the Nasdaq has climbed more than 20% from its low in June.

The S&P 500 slipped 2.97 points to 4,207.27 Thursday but it’s still on pace for a fourth consecutive weekly gain.

The Nasdaq fell 74.89 points to 12,779.91, and the Dow rose 27.16 points to 33,336.67. The Russell 2000 index of smaller companies rose 6.01 points, or 0.3%, to 1,975.26. The three indexes are also on pace for a weekly gain.

Technology and health care stocks were among the biggest weights on the S&P 500, keeping gains by energy companies, banks and other sectors in check.

The Walt Disney Co. jumped 4.7% after the entertainment company reported stronger profit for its latest quarter than analysts expected. It cited strong performance at its U.S. theme parks and announced price increases for its streaming services.

Companies whose profits most depend on a strong economy generally held up better. Energy stocks as a group rose 3.2% for the biggest gain among the 11 sectors that make up the S&P 500. They benefitted from rising prices of oil and natural gas. Shares of raw-material producers in the index gained 0.3%, and financial companies rose 1%.

Worries about a possible recession still loom over the market, as the Federal Reserve continues to raise interest rates to fight inflation. Such increases slow the economy by design, and some parts of the economy have already weakened under their weight, particularly the housing industry. But a resilient jobs market has offered a strong counterweight, leading to a muddied outlook for the economy.

A report on Thursday showed fewer U.S. workers filed for jobless claims last week than expected, a potentially encouraging sign about layoffs. But it was nevertheless the highest number since November.

Traders are now betting on the Fed to raise overnight interest rates by half a percentage point at its meeting next month. That’s down from the hike of 0.75 percentage points they were forecasting before Wednesday’s stunner of a report on inflation at the consumer level.

The Fed’s last two increases were by 0.75 points, accelerating from its two earlier hikes of the year, as the central bank upped its fight against high inflation. Even if the Fed can manage to slow the economy enough to stamp out inflation without causing a recession, higher interest rates pull downward on prices for all kinds of investments regardless.

Treasury yields mostly rose Thursday, after paring earlier losses. The 10-year yield rose to 2.89% from 2.79% late Wednesday, a big move.

It’s still below the two-year yield, which sits at 3.21%. That’s a relatively unusual occurrence that some investors see as a fairly reliable signal of a pending recession, though the gap between the two has narrowed somewhat.

In markets overseas, European stocks closed mixed, while Asian indexes were mostly higher.

In Thailand, the SET gave up 0.2% after the country’s central bank raised its benchmark interest rate by 0.25 percentage points to 0.75% a day earlier. The Southeast Asian country’s economy has been hard hit by the pandemic, which ravaged its all-important tourism sector.





An afternoon pullback left stock indexes on Wall Street with a mixed finish Thursday, erasing most of their gains from a morning rally over new signs of cooling inflation.

The Nasdaq fell 74.89 points to 12,779.91, and the Dow rose 27.16 points to 33,336.67. The Russell 2000 index of smaller companies rose 6.01 points, or 0.3%, to 1,975.26.

The S&P 500 slipped 2.97 points to 4,207.27 Thursday but it’s still on pace for a fourth consecutive weekly gain.

The Nasdaq fell 74.89 points to 12,779.91, and the Dow rose 27.16 points to 33,336.67.


----------



## bigdog

Wall Street extends winning streak to 4th week
					

Wall Street capped a choppy week of trading with a broad stock market rally Friday, as the S&P 500 notched its fourth consecutive weekly gain.  The benchmark index closed 1.7% higher, for a 3.3% weekly gain.




					apnews.com
				



Wall Street extends winning streak to 4th week​By DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped a choppy week of trading with a broad stock market rally Friday, as the S&P 500 notched its fourth consecutive weekly gain.

The benchmark index closed 1.7% higher, for a 3.3% weekly gain. The S&P 500 hadn’t posted such a good stretch since November.

The Dow Jones Industrial Average rose 1.3%, while the Nasdaq and Russell 2000 index of smaller companies both closed 2.1% higher. Each index also posted a solid weekly gain.

Technology stocks drove much the rally. Crude oil prices fell and bond yields were mixed.

Trading was choppy much of the week, but major indexes got a big bump on Wednesday after a report showed that inflation cooled more than expected last month. Another report on Thursday showed inflation at the wholesale level also slowed more than expected.

The cooler-than-expected inflation readings have bolstered hopes among investors that inflation may be close to a peak and that the Federal Reserve could less aggressively hike interest rates, its main tool for fighting inflation.

“The data that we’ve gotten this week has all been consistent with the idea that we’re in the midst of peak inflation rates on a month-to-month basis,” said Scott Ladner, chief investment officer at Horizon Investments. “And that’s something that we’ve been waiting to see for months now. And it looks like, if that’s the case, then we’ve probably also seen peak Fed hawkishness.”

The S&P 500 rose 72.88 points to 4,280.15, while the Dow gained 424.38 points to 33,761.05. The Nasdaq added 267.27 points to 13,047.19.

Small-company stocks also made strong gains in a sign that investors are confident about the economy. The Russell 2000 rose 41.36 points to 2,016.62.

Around 95% of the stocks in the S&P 500 rose, with technology companies driving much of the rally. Chipmaker Nvidia rose 4.3%.

The central bank has been raising interest rates in the hopes of slowing the economy and cooling the hottest inflation in four decades, but investors are worried that it could hit the brakes too aggressively and steer the economy into a recession.

On Friday, a survey by the University of Michigan showed that consumer sentiment is stronger than economists expected. Still, inflation remains painfully high. That means the Fed is likely to remain on course with its rate hikes until it is certain that prices have peaked and are easing.

The Fed’s last two increases were by 0.75 percentage points. Traders now see about a 60% chance that the central bank will raise overnight interest rates by half a percentage point at its next meeting.

“The market’s strength is based on the assumption that inflation peaked and the Fed can relax, but that may be a bit too complacent,” said Liz Ann Sonders, chief investment strategist at Charles Schwab.

The yield on the 10-year Treasury fell to 2.84% from 2.88% late Thursday. It remains below the two-year yield. That’s an unusual inversion of the expectation that borrowing money for a longer period should cost more than a shorter period. When investors demand a higher return for a short term like the 2-year than a longer one like 10 years, it’s viewed by some investors as a reliable signal of a pending recession. The economy has already contracted for two consecutive quarters.

Next week the Commerce Department releases its retail sales report for July and retail giant Walmart reports its latest financial results.

Investors can also assess the health of the housing market when they get a report on home sales for July and the latest earnings from Home Depot.


----------



## bigdog

Wall Street capped a choppy week of trading with a broad stock market rally Friday, as the S&P 500 notched its fourth consecutive weekly gain.

The benchmark index closed 1.7% higher, for a 3.3% weekly gain. The S&P 500 hadn’t posted such a good stretch since November.

The Dow Jones Industrial Average rose 1.3%, while the Nasdaq and Russell 2000 index of smaller companies both closed 2.1% higher. Each index also posted a solid weekly gain.


----------



## bigdog

Asian shares mostly higher, echoing Wall Street rebound
					

TOKYO (AP) — Asian shares mostly rose Tuesday after a rebound on Wall Street, despite regional investor risks reflected in negative economic data out of China. The benchmark in Tokyo was little changed, erasing earlier gains, but indexes in South Korea, Australia and China gained in morning trading.




					apnews.com
				




Stocks end higher on Wall Street; economic worries hit oil​By DAMIAN J. TROISE and ALEX VEIGA

Stocks on Wall Street bounced back from an early slide and closed higher Monday, extending the market’s recent winning ways as investors look ahead to several updates from retailers this week.

The S&P 500 rose 0.4% after having been down 0.5% in the early going. The benchmark index has risen for four straight weeks and is up 13.5% so far in the third quarter, although it’s still lower for the year.

The Dow Jones Industrial Average rose 0.5% and the Nasdaq gained 0.6%. Smaller company stocks also rose, sending the Russell 2000 index 0.2% higher.

The market got off to a bumpy start as traders reacted to news overnight that China’s central bank cut a key interest rate, acknowledging more needed to be done to shore up its economy. The move is the latest warning for markets already on edge over record-high inflation and fears about recessions in the U.S. and elsewhere.

China is the world’s second-largest consumer of crude oil, so the news weighed on energy prices. U.S. crude oil prices slumped 2.9% on worries about the global economy and weighed heavily on energy stocks. Chevron fell 1.9%.

Treasury yields fell as a report showed manufacturing in New York state unexpectedly contracted. The yield on the 10-year Treasury, which banks use to set mortgage rates, fell to 2.79% from 2.83% late Friday.

Some big banks fell as bond yields declined. Capital One slid 1.8%.

Still, all but two of the 11 sectors in the S&P 500 closed higher. Technology stocks, retailers and other companies that rely on direct consumer spending accounted for a big share of the gains. Visa rose 2.4% and Costco added 1.6%.

Moderna rose 3.3% after British regulators authorized an updated version of its COVID-19 vaccine.

All told, the S&P 500 rose 16.99 points to 4,297.14. The Dow added 151.39 points to 33,912.44. The Nasdaq gained 80.87 points to 13,128.05. The Russell 2000 rose 4.73 points to 2,021.35.

The market’s choppy start to the week follows four straight weeks of gains for the benchmark S&P 500 on hopes that inflation is peaking and that the Federal Reserve could ease up on its aggressive interest rate hikes. The central bank has been raising short-term interest rates to help slow economic growth and cool the hottest inflation in 40 years.

Wall Street is worried that the Fed could hit the brakes too hard and send the economy into a recession, and any signal that inflation could be peaking or retreating has helped ease some of those worries.

Investors are also keeping a close watch on how inflation is affecting businesses and consumers. Spending has slowed and the broader economy has already contracted for two straight quarters. Several big retailers will give investors more detail on how their businesses are holding up when they report earnings this week.

Home Depot and Walmart report their results on Tuesday and Target’s results are due on Wednesday. On July 26, the S&P 500 fell more than 1% after Walmart warned that inflation was hurting its customers’ spending power and said its second-quarter profit would be lower than previously forecast.

Wall Street will get another look at the health of the retail sector and consumer spending when the Commerce Department releases its July retail sales report on Wednesday. Economists surveyed by FactSet expect modest 0.2% growth from June, when sales rose 1%. That increase largely reflected higher prices, particularly for gas. But it also showed that Americans continue to spend, providing crucial support for the economy, though some economists suggest it’s mostly coming from higher-income households.





The S&P 500 rose 0.4% after having been down 0.5% in the early going. The benchmark index has risen for four straight weeks and is up 13.5% so far in the third quarter, although it’s still lower for the year.

The Dow Jones Industrial Average rose 0.5% and the Nasdaq gained 0.6%. Smaller company stocks also rose, sending the Russell 2000 index 0.2% higher.


----------



## bigdog

Asian shares rise on optimism about US, China economies
					

TOKYO (AP) — Asian shares were mostly higher Wednesday as regional markets looked to strong economic signs out of the U.S. and China as drivers of growth.  Benchmarks rose in morning trading in Japan, China and Australia, although shares dipped slightly in South Korea.




					apnews.com
				




After another bumpy day, Wall Street ends mostly higher​By DAMIAN J. TROISE and ALEX VEIGA

Another choppy day of trading on Wall Street ended Tuesday with a mostly higher finish for stocks that adds to the market’s recent string of gains.

The S&P 500 rose 0.2%, its third straight gain. The Dow Jones Industrial Average rose 0.7%, extending its winning streak to a fifth day. The Nasdaq slipped 0.2%.

Bond yields gained ground. The yield on the 10-year Treasury rose to 2.81% from 2.79% late Monday.

The market’s latest gyrations came as traders cautiously reviewed mostly encouraging financial results from major retailers.

Walmart jumped 5.1% and after the nation’s largest retailer reported strong results that easily topped analysts’ forecasts. Home Depot rose 4.1% after also reporting better-than-expected results. The gains from both companies did much of the heavy lifting for the Dow.

Technology, health care and energy stocks fell, limiting the broader market’s advance. Broadcom fell 1.3%, Moderna slid 5% for the biggest drop in the S&P 500 and Marathon Oil fell 1.1%.

Retailers, consumer product makers and banks made solid gains.

In all, the S&P 500 rose 8.06 points to 4,305.20. The Dow gained 239.57 points to 34,152.01. The Nasdaq fell 25.50 points to 13,102.55.

Smaller company stocks edged lower. The Russell 2000 slipped 0.82 points, or less than 0.1%, to 2,020.53.

U.S. crude oil prices fell 3.2%. European markets ended broadly higher and Asian markets closed mixed overnight.

Stocks had their best month in a year-and-a-half in July and the winning streak has been continuing into August partially on hopes that inflation is easing. The latest government report on consumer prices showed that inflation essentially stalled from June to July.

Still, trading has been choppy, with major indexes swaying between gains and losses throughout each day.

The bumpy trading reflects at least partly a surge in “dip buyers,” or investors swooping in to buy stocks that have traded lower, said Randy Frederick, managing director of trading & derivatives at Charles Schwab.

“The dip buyers were just absent in the first half of the year, and whenever they did step in they got spanked every time,” he said. “That has changed now.”

Frederick points to momentum in the market right now.

“Clearly the easier direction is to the upside at this point, but that doesn’t mean we won’t have another pullback,” he said.

The latest results from retailers show that spending remains solid, even as consumers face the hottest inflation in 40 years. Wall Street has been concerned that higher prices on everything from food to clothing could eventually stunt the economy’s main engine of growth, consumer spending. Investors will get more updates on the retail sector this week, when Target reports its results on Wednesday.

The Commerce Department releases its July retail sales report on Wednesday. Economists surveyed by FactSet expect modest 0.2% growth from June, when sales rose 1%.

The retail reports are capping off the latest round of corporate earnings, which have been closely watched by investors trying to determine inflation’s impact on businesses and consumers, while trying to gauge how Federal Reserve will react. The central bank is raising interest rates in an effort to slow down economic growth and rein in inflation, though it risks hitting the brakes too hard and veering the economy into a recession.

Investors are looking for any signs that inflation is peaking or cooling in the hopes that the Fed could ease its aggressive rate hike policy. The central bank in July raised its benchmark interest rate by three-quarters of a point for a second straight time. On Wednesday, Wall Street will get more details on the process behind that decision when the Fed releases minutes from that meeting.

Investors currently expect a half-point increase at the Fed’s upcoming meeting in August, according to CME’s FedWatch tool.





The S&P 500 rose 0.2%, its third straight gain. The Dow Jones Industrial Average rose 0.7%, extending its winning streak to a fifth day. The Nasdaq slipped 0.2%


----------



## bigdog

Asian stocks follow Wall St down after Fed inflation report
					

BEIJING (AP) — Asian stock markets followed Wall Street lower Thursday after the Federal Reserve said U.S. inflation is too high, suggesting support for more aggressive interest rate hikes. Shanghai, Tokyo, Hong Kong and Sydney declined.




					apnews.com
				




Stocks slip on Wall Street, erasing weekly gains for S&P 500​By DAMIAN J. TROISE and ALEX VEIGA

Stocks on Wall Street closed broadly lower Wednesday as drops by big technology companies wiped out the S&P 500′s gains for the week.

The benchmark index fell 0.7%, snapping a three-day winning streak. The Dow Jones Industrial Average fell 0.5% and the tech-heavy Nasdaq slid 1.3%.

Small-company stocks fell more sharply than the rest of the market, pulling the Russell 2000 1.6% lower.

Traders focused on a mix of retail updates that indicate inflation pressure continues to affect businesses and consumers, but also shows that spending remains strong. A government report showed retail sales were flat last month, and Target shares slumped after the retail chain reported a nearly 90% skid in quarterly profits.

“You saw Target coming out and being softer than we thought, so maybe it spooked investors a little bit,” said Sylvia Jablonski, chief investment officer at Defiance ETFs. “It’s a small correction from the bear market rally.”

The S&P 500 slipped 31.16 points to 4,274.04. The loss pulled the index 0.1% lower so far this week.

The Dow dropped 171.69 points to 33,980.32, while the Nasdaq fell 164.43 points to 12,938.12. The Russell 2000 slid 33.22 points to 1,987.31.

Trading has been choppy throughout the week as the benchmark S&P 500 comes off a four-week winning streak.

Pricey technology companies, communication stocks and retailers had some of the biggest losses. Only energy stocks notched gains as the price of U.S. crude oil rose.

Bond yields rose significantly. The yield on the 10-year Treasury rose to 2.89% from 2.81% late Tuesday.

Wall Street has been closely reviewing the latest economic data and corporate updates to get a better sense of how inflation is affecting businesses and consumers and whether the hottest inflation in 40 years is peaking or beginning to cool. Investors are also monitoring inflation to determine how much further central banks have to go in their fight against higher prices.

Sales at U.S. retailers were unchanged last month, according to the Commerce Department, and economists had expected a slight increase in July. Part of the weakness came from a 1.8% drop in gas sales, reflecting lower prices at the pump.

Meanwhile, Target fell 2.7% after reporting a nearly 90% plunge in second quarter profits as it was forced to slash prices to clear unwanted inventories. The retailer warned earlier this summer that it was canceling orders from suppliers and aggressively cutting prices because of a pronounced spending shift by Americans as the pandemic eased.

Children’s clothing and accessories chain Children’s Place fell 11% after reporting a surprise second-quarter loss as it faced supply chain problems and pressure from inflation.

Britain’s inflation rate rose to a new 40-year high of 10.1% in July, a faster pace than in the U.S. and Europe as climbing food prices in the United Kingdom tightened a cost-of-living squeeze fueled by the soaring cost of energy. Inflation pressures prompted the Bank of England to boost its key interest rate by half a percentage point this month, the biggest of six consecutive increases since December.

The Federal Reserve has been raising interest rates in order to slow the economy and temper inflation, but investors remain concerned that it could hit the brakes too hard and send the economy into a recession. The Fed in July raised its benchmark interest rate by three-quarters of a point for a second-straight time.

The central bank’s minutes from last month’s meeting of policymakers didn’t offer any new insight into the Fed’s struggle to quell inflation. The minutes, released Wednesday afternoon, showed that Fed policymakers expected the economy to expand in the second half of 2022, though many suggested that growth would weaken as higher rates take hold.

Slower growth, they noted, could “set the stage” for inflation to gradually fall to the central bank’s 2% annual goal, though it remained “far above’’ that target. But the policymakers made clear that for now, they intend to continue raising rates enough to slow the economy.






Stocks on Wall Street closed broadly lower Wednesday as drops by big technology companies wiped out the S&P 500′s gains for the week.

The S&P 500 slipped 31.16 points to 4,274.04. The loss pulled the index 0.1% lower so far this week.

The Dow dropped 171.69 points to 33,980.32, while the Nasdaq fell 164.43 points to 12,938.12. The Russell 2000 slid 33.22 points to 1,987.31


----------



## bigdog

Asian markets mixed after Wall St gains on jobs data
					

BEIJING (AP) — Asian stock markets were mixed Friday after Wall Street rose as investors analyzed conflicting economic signals ahead of a Federal Reserve conference next week. Shanghai and Seoul declined while Tokyo and Hong Kong advanced.




					apnews.com
				




Stocks end higher on Wall Street after more choppy trading​By DAMIAN J. TROISE and ALEX VEIGA

Another day of choppy trading on Wall Street ended with modest gains for stocks Thursday and the benchmark S&P 500 barely back into the green for the week.

The S&P 500 rose 0.2% after shifting between small gains and losses for much of the day. It’s now up 0.1% for the week.

The Dow Jones Industrial Average managed a 0.1% gain, while the Nasdaq rose 0.2% as technology companies gained ground.

Smaller company stocks outpaced the broader market, sending the Russell 2000 index 0.7% higher.

The choppy trading for stocks follows a four-week winning streak for the S&P 500. Investors remain concerned about stubbornly hot inflation and its impact on consumers and businesses. Financial results from big retailers and economic updates throughout the week have shown that the economy remains under pressure from inflation, but has several pockets of resiliency.

“The market is looking for direction and it seems people are caught between the idea of slowing economic growth and slowing inflation,” said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance.

The S&P 500 rose 9.70 points to 4,283.74, while the Dow added 18.72 points to 33,999.04. The Nasdaq gained 27.22 points to 12,965.34, and the Russell 2000 added 13.41 points to 2,000.73.

Technology companies had some of the strongest gains. Cisco Systems rose 5.8% after reporting solid financial results.

Energy stocks also climbed as U.S. crude oil prices rose 2.7%. Devon Energy rose 5.9%.

Department store Kohl’s fell 7.7% after issuing a disappointing financial forecast.

Bond yields fell. The yield on the 10-year Treasury, which affects mortgage rates, slipped to 2.87% from 2.90% late Wednesday.

Bed Bath & Beyond fell 19.6% after investor Ryan Cohen proposed selling his entire stake in the struggling retailer.

Slightly fewer Americans filed for unemployment benefits last week, according to the Labor Department, as the labor market continues to stand out as one of the strongest segments of the U.S. economy. The solid update on the employment market follows an encouraging report on Wednesday that showed retail sales remain solid despite the hottest inflation in four decades.

Investors have been closely watching the Federal Reserve for any reaction to shifts in inflation or the economy. The central bank has been raising interest rates in an effort to slow the economy and cool inflation, but Wall Street is concerned it could slam the brakes too hard and veer into a recession instead.

Any sign that inflation is peaking or cooling has given Wall Street hope that the Fed could consider easing up on rate hikes. It raised its benchmark interest rate by three-quarters of a point for a second-straight time during its meeting in July and is expected to raise the rate by a half-percentage point at its upcoming meeting.

The minutes from last month’s meeting of Federal Reserve policymakers showed that policymakers expected the economy to expand in the second half of 2022, though many suggested that growth would weaken as higher rates take hold. The Fed intends to continue raising rates enough to slow the economy

Wall Street continues monitoring potential trade issues between the U.S. and China after the U.S. government said it will hold trade talks with Taiwan in a sign of support for the island democracy that China claims as its own territory, prompting Beijing to warn that it will take action if necessary to “safeguard its sovereignty.”






The S&P 500 rose 0.2% after shifting between small gains and losses for much of the day. It’s now up 0.1% for the week.

The Dow Jones Industrial Average managed a 0.1% gain, while the Nasdaq rose 0.2% as technology companies gained ground.

The S&P 500 rose 9.70 points to 4,283.74, while the Dow added 18.72 points to 33,999.04. The Nasdaq gained 27.22 points to 12,965.34, and the Russell 2000 added 13.41 points to 2,000.73


----------



## bigdog

Tech stocks lead Wall Street lower, breaking winning streak
					

Wall Street capped a choppy week of trading Friday with a broad slide for stocks that left the major indexes in the red for the week.  The S&P 500 closed 1.3% lower, breaking a four-week winning streak.




					apnews.com
				




Tech stocks lead Wall Street lower, breaking winning streak​By DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped a choppy week of trading Friday with a broad slide for stocks that left the major indexes in the red for the week.

The S&P 500 closed 1.3% lower, breaking a four-week winning streak. Shares in more than 80% of the companies in the benchmark index fell, with technology stocks driving much of the pullback.

The tech-heavy Nasdaq composite fell 2% and also ended four weeks of gains. The Dow Jones Industrial Average dropped 0.9%, ending slightly in the red for the week. Small company stocks also lost ground, pulling the Russell 2000 index 2.2% lower.

Friday marked the heaviest selling for the market, including the S&P 500′s biggest decline in more than seven weeks, after a solid run of weekly gains. The strong market rally in July and early August followed better-than-expected company earnings and signs that the economy is slowing, possibly setting the stage for less aggressive rate hikes, the Federal Reserve’s main tool for taming surging inflation.

Minutes from the central bank’s interest rate policy meeting last month and recent statements by Fed officials appeared to signal that the Fed may not be prepared to relent just yet from its pace of rate increases, said Quincy Krosby, chief equity strategist for LPL Financial.

“That put the market on notice that perhaps the market may have to contend with a Fed that continues to raise rates at a steady pace and perhaps does not pause and take its foot off the pedal,” she said.

That gave traders “the perfect excuse to finally begin to burn off” some of the market’s recent gains.

The S&P 500 fell 55.26 points to 4,227.48. It ended with a 1.2% loss for the week and is now down 11.3% so far this year.

The Dow dropped 292.30 points to 33,706.74, while the Nasdaq slid 260.13 points to 12,705.22. The Russell 2000 gave up 43.38 points to 1,957.35.

Technology stocks had some of the biggest losses and the sector’s dip weighed heavily on the broader market. Microsoft fell 1.4%.

Retailers, banks and communications companies also fell sharply amid the broad slide.

Meme stock Bed Bath & Beyond sank 40.5% after the high-profile activist investor Ryan Cohen confirmed that he’s sold his stake in the company.

Cryptocurrencies fell broadly as Bitcoin slumped 8.5% to $21,370, according to CoinDesk.

Bright spots included General Motors, which rose 2.5% after reinstating its dividend. Foot Locker soared 20% after replacing its CEO and reporting earnings that beat Wall Street’s estimates.

Bond yields gained ground, reflecting expectations of further interest rate hikes. The yield on the 10-year Treasury rose to 2.97% from 2.89% late Thursday.

Traders had no shortage of company and economic data to review this week, including the latest batch of earnings from retailers and updates on spending, home sales and the employment market.

Big retailers including Walmart and Target have warned investors that inflation is crimping consumer spending. Department store owner Macy’s will report its results next week.

A report on retail sales this week showed that spending remains resilient as gasoline prices fall and help ease some pressure from inflation.

Wall Street is trying to determine how stubbornly hot inflation is affecting businesses and consumers and whether the economy can remain resilient and avoid a recession.

The data from government and corporate reports is also being closely watched as investors try to determine how the Federal Reserve will continue with its plan to fight inflation by raising interest rates. The goal is to raise rates and slow down economic growth to cool inflation. But, the central bank is threading a fine line between taming inflation in an already slowing economy and hitting the brakes too hard and veering the economy into a recession.

Minutes of the Fed’s July meeting released this week said inflation is still is too high and made clear the central bank will keep raising interest rates. The central bank has raised interest rates twice this year by 0.75 percentage points, triple its usual margin. Forecasters currently expect a hike of a half-percentage point at the board’s next meeting.

Wall Street will be keenly watching next week’s speech by Federal Reserve Chair Jerome Powell at an annual conference in Jackson Hole, Wyoming.

“The question is does he engage the market with his assessment of the direction of inflation, the progress the Fed is making and offer any suggestion of the direction of rate hikes?” Krosby said.


----------



## bigdog

Wall Street capped a choppy week of trading Friday with a broad slide for stocks that left the major indexes in the red for the week.

The S&P 500 fell 55.26 points to 4,227.48. It ended with a 1.2% loss for the week and is now down 11.3% so far this year.


The Dow dropped 292.30 points to 33,706.74, while the Nasdaq slid 260.13 points to 12,705.22. The Russell 2000 gave up 43.38 points to 1,957.35


----------



## bigdog

Asian shares fall on Fed worries after Wall Street sell-off
					

TOKYO (AP) — Asian shares were trading lower Tuesday, echoing a broad sell-off on Wall Street amid speculation about another interest rate raise from the U.S. Federal Reserve.  Benchmarks in Asia slid across the region in morning trading, including Japan, China, South Korea and Australia.




					apnews.com
				




*Stocks fall broadly on Wall Street, extending market losses*

By DAMIAN J. TROISE and ALEX VEIGA

Another broad stock market sell-off on Monday deepened Wall Street’s losses from last week, leaving the S&P 500 with its biggest slide since mid-June.

The benchmark index fell 2.1%, nearly doubling its losses from last week, when it broke a four-week winning streak. The Dow Jones Industrial Average slumped 1.9% and the Nasdaq dropped 2.5%.

Technology companies and retailers had some of the heaviest losses. Smaller company stocks also lost ground, pulling the Russell 2000 index 2.1% lower.

The latest market slide comes as investors grapple with uncertainty over when the highest inflation in decades will ease significantly, how much will the Federal Reserve have to raise interest rates in order to get it under control and how much will the rate hikes slow the economy.

Wall Street will be looking for insight into these unknowns later this week, when the Federal Reserve holds its annual meeting in Jackson Hole, Wyoming.

“Volatility spiked as investors are increasingly nervous about what they might hear from officials at the Fed’s upcoming Jackson Hole symposium,” said Jeffrey Roach, chief economist for LPL Financial.

The S&P 500 fell 90.49 points to 4,137.99. The Dow lost 643.13 points to close at 33,063.61, while the Nasdaq fell 323.64 points to 12,381.57. The Russell 2000 gave up 41.60 points to 1,915.74.

Some 95% of the stocks in the S&P 500 fell. Technology companies, retailers, banks and communications services stocks accounted for a big share of the index’s slide. Microsoft fell 2.9% and Target fell 3%. JPMorgan dropped 1.7% and Netflix slid 6.1%.

Movie theater operators also fell in choppy trading following news that Cineworld is considering filing for Chapter 11 bankruptcy protection. The industry is still struggling to recover from the virus pandemic. AMC Entertainment fell 5.5% and Cinemark fell 5.8%.

Bright spots in the market included Signify Health, which jumped 32.1% after The Wall Street Journal reported that Amazon would bid for the company.

Bond yields gained ground. The yield on the 10-year Treasury, which influences rates on home mortgages and other loans, rose to 3.03% from 2.97% late Friday.

The broader market’s losses come on the heels of a weekslong rally. Investors are trying to figure out where the economy goes from here as stubbornly hot inflation hurts businesses and consumers. Record-high inflation also has investors focusing on central banks and their efforts to fight high prices without further damaging economic growth.

“You’ve had quite a rally and there’s reason to not be sure where we’re going from here,” said Tom Martin, senior portfolio manager with Globalt Investments. “There’s still decent potential for a recession.”

Minutes last week from the Federal Reserve’s July board meeting affirmed plans for more rate hikes despite signs of weaker economic activity. Traders worry aggressive steps to slow the economy might go too far and bring on a recession. The U.S. economy has already contracted through the first half of 2022 and Wall Street will get more information on Thursday when the government releases an updated report on the U.S. economy for the second quarter.

Investors are also looking ahead to this week’s Federal Reserve conference for signals about more possible U.S. rate hikes to cool surging inflation. Fed Chair Jerome Powell is scheduled to give a speech on Friday morning at the central bank’s annual meeting in Jackson Hole, which starts Thursday.

The Fed is holding its meeting following a heavy week of company and economic data that showed inflation is still squeezing the economy, but consumer spending remains resilient. Falling gasoline and food commodity prices, for wheat and corn, have helped relieve some of that pressure. That helped essentially stall inflation’s advance in July, though prices still remain stubbornly high.

“I don’t think we’re out of the woods yet on inflation,” Martin said. “We still don’t really know how inflation is going to pan out and what the Fed is going to do.”





The benchmark S&P 500 index fell 2.1%, nearly doubling its losses from last week, when it broke a four-week winning streak. The Dow Jones Industrial Average slumped 1.9% and the Nasdaq dropped 2.5%.

The S&P 500 fell 90.49 points to 4,137.99. The Dow lost 643.13 points to close at 33,063.61, while the Nasdaq fell 323.64 points to 12,381.57. The Russell 2000 gave up 41.60 points to 1,915.74.


----------



## bigdog

Asian shares mixed after modest Wall Street fall
					

TOKYO (AP) — Asian shares were mixed Wednesday as a wait-and-see mood set in following another — though more modest — day of sell-offs on Wall Street.  Worries about inflation are weighing on investors' minds, including in Asia.




					apnews.com
				




Stocks dip as steadying yields calm Wall Street after fall​By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — Stocks drifted to modest losses in a quiet Tuesday on Wall Street, as steadying Treasury yields helped calm the market following its worst tumble in months.

The S&P 500 dipped 9.26 points, or 0.2%, to 4,128.73 after flipping between small gains and losses through the day. The edge lower follows up on Monday’s sharp 2.1% drop, which came on the heels of the first losing week for the index in the last five.

The Dow Jones Industrial Average fell 154.02, or 0.5%, to 32,909.59, and the Nasdaq composite slipped 0.27, or less than 0.1%, to 12381.30. Stocks of smaller companies held up better than the rest of the market, and the Russell 2000 index ticked up by 0.2%.

Volatility has returned to Wall Street following what had been a strong summer as worries rise about how aggressively the Federal Reserve will raise interest rates to knock down high inflation. Recent comments from some Fed officials have cooled hopes the Fed may end up less forceful than feared.

The yield on the 10-year Treasury has climbed back above 3%, for example, after starting the month close to 2.60%.

Yields calmed on Tuesday, though, which helped give stocks something of a reprieve. The two-year yield fell in particular following some weaker-than-forecast readings on the economy, down to 3.28% from 3.33% late Monday.

The 10-year yield inched up to 3.05% from 3.03% after preliminary data suggested both the manufacturing and services sectors are weaker than economists expected.

“Gathering clouds spread across the private sector as services new orders returned to contractionary territory, mirroring the subdued demand conditions seen at their manufacturing counterparts,” S&P Global Market Intelligence senior economist Siân Jones said in a statement accompanying the report.

A separate report showed that sales of new homes slowed more than economists expected last month. The housing industry has been one of the hardest hit by this year’s turnaround in interest rates. As the Fed has jacked up its key overnight rate, mortgage rates have climbed too and put a chill on the industry.

Such weak data on the U.S. economy raises worries that a recession may indeed be on the way, but it also could encourage the Fed to take it easier on rate hikes. Worries about a slowing economy stretch around the world, and the value of one euro dropped below $1 amid concerns about Europe in particular.

The next big event circled on Wall Street’s calendar is a speech on Friday by Jerome Powell, the chair of the Federal Reserve. He’ll be speaking at an annual symposium held by the Fed in Jackson Hole, Wyoming, which has been the site of major market-moving speeches in the past.

In the stock market, losses for health care companies helped to offset gains for energy producers driven by stronger oil prices.

Several profit reports also drove trading as the earnings season draws to a close. More than 95% of companies in the S&P 500 have reported their earnings for the spring, with overall growth on track for roughly 6%, according to FactSet.

Macy’s rose 3.8% after beating Wall Street’s second-quarter expectations, and J.M. Smucker gained 3.3% after delivering a sweetened financial forecast despite inflation eating into its results. Zoom Video Communications slumped 16.5% after cutting its financial forecast for the year.

Twitter fell 7.3% after a whistleblower alleged the company misled regulators about its cybersecurity defenses, privacy protections and its ability to detect and root out fake accounts. The social media company is in the middle of trying to force Tesla CEO Elon Musk to consummate his $44 billion takeover offer for it.





The Dow Jones Industrial Average fell 154.02, or 0.5%, to 32,909.59, and the Nasdaq composite slipped 0.27, or less than 0.1%, to 12381.30. Stocks of smaller companies held up better than the rest of the market, and the Russell 2000 index ticked up by 0.2%.


----------



## bigdog

Asian stocks mostly higher as markets await Fed chair speech
					

TOKYO (AP) — Asian shares were mostly higher Thursday as Wall Street and global markets wait for a highly anticipated speech from the U.S. Federal Reserve chair about interest rates at the end of the week.




					apnews.com
				




Stocks edge higher as Wall Street waits for Fed speech​By STAN CHOE

NEW YORK (AP) — Stocks ticked higher Wednesday as Wall Street waits for a highly anticipated speech about interest rates at the end of the week.

The S&P 500 edged up 12.04 points, or 0.3%, to 4,140.77, as traders overall again held off on making big moves. The Dow Jones Industrial Average added 59.64, or 0.2%, to 32,969.23, and the Nasdaq composite rose 50.23, or 0.4%, to 12,431.53.

It’s the second straight day of modest moves for the market, but they follow some severe swings up and down over the prior weeks.

Stocks drove higher through the summer on hopes that inflation was near its peak and that the Federal Reserve may hike interest rates less aggressively than earlier feared. But recent comments by Fed officials have cooled such expectations, sending Wall Street on Monday to its worst day in months. Discouraging reports on the economy have meanwhile highlighted the risk of a recession.

Wall Street’s focus remains centered on Friday, when Fed Chair Jerome Powell gives a speech at an annual economic conference in Jackson Hole, Wyoming. It’s been the setting for market-moving speeches in the past, which has investors hoping Powell will offer clarity on further rate hikes. Will he be hawkish, which is what traders call a bias toward aggressive rate increases? Or dovish, which is Wall Street-speak for easier conditions?

Brian Jacobsen, senior investment strategist at Allspring Global Investments, doesn’t expect Powell to be clearly one or the other.

“I don’t think he wants to come across as hawkish or dovish, maybe he wants to come across as chicken,” Jacobsen said, citing the many variables that could change the Fed’s thinking before its next meeting on rate policy in September.

Jacobsen warned the speech may be a “nothingburger” with little to chew on, though the market could take that as a positive given some expectations for Powell to sound hawkish.

Higher interest rates slow the economy in hopes of undercutting inflation. But they also risk choking off the economy if done too aggressively, and they pull down prices on all kinds of investments.

Treasury yields have been rising recently, partly in anticipation of the Fed continuing to lean toward raising rates aggressively to quash the worst inflation in decades. The two-year yield, which tends to track expectations for the Fed, rose to 3.40% from 3.30% late Tuesday.

The 10-year yield, which helps set rates for mortgages and many kinds of loans, rose to 3.11% from 3.05% after a report showed that U.S. orders for long-lasting goods were flat in July. Excluding transportation, though, growth was stronger than economists expected.

In the stock market, Intuit rallied 3.6% for one of the larger gains in the S&P 500. The owner of TurboTax delivered stronger results for the latest quarter than expected and forecast revenue for the upcoming fiscal year that topped some analysts’ expectations.

On the losing end were several retailers, which are among the last companies to report how much profit they made during the spring

Nordstrom tumbled 20% after it cut its financial forecast for the year, though it reported stronger profit for the latest quarter than expected. It’s the latest major retailer to say it’s struggling to keep up with its customers’ changing shopping patterns.

Shoppers are shifting their spending away from stores and toward travel and other experiences. The ones still coming through the doors are seeing their buying power undercut by high inflation, with pressure hitting lower-income customers in particular. That has the industry facing mountains of unsold inventory.

Advance Auto Parts slumped 9.6% after its quarterly results fell short of expectations. The car parts chain said its do-it-yourself customers are getting squeezed by high inflation and gasoline prices well above where they were a year ago.

Markets overseas were mixed, with stocks in Shanghai sinking 1.9% but South Korean stocks up 0.5%.





The S&P 500 edged up 12.04 points, or 0.3%, to 4,140.77, as traders overall again held off on making big moves. The Dow Jones Industrial Average added 59.64, or 0.2%, to 32,969.23, and the Nasdaq composite rose 50.23, or 0.4%, to 12,431.53.


----------



## bigdog

Asian stocks follow Wall St higher ahead of Fed chair speech
					

BEIJING (AP) — Asian stock markets followed Wall Street higher on Friday ahead of a speech by the Federal Reserve chair that investors hoped would shed light on plans for more interest rate hikes. Tokyo, Hong Kong and Seoul advanced.




					apnews.com
				




Wall Street rallies as countdown to Fed speech nears end​By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — Stocks rallied Thursday as the countdown clicked closer to zero for a highly anticipated speech about interest rates.

The S&P 500 gained 58.35, or 1.4%, to 4,199.12 for its best day in nearly two weeks. Much of the lift came late in the day as traders made moves ahead of Friday morning’s speech by Federal Reserve Chair Jerome Powell, which has long been circled on Wall Street’s calendar.

The Dow Jones Industrial Average rose 322.55, or 1%, to 33,291.78, and the Nasdaq composite climbed 207.74, or 1.7%, to 12,639.27. All three indexes trimmed their losses for the week, caused by Monday’s tumble that was the worst for stocks in months.

Treasury yields eased to let off some of the pressure on Wall Street following the release of several reports on the economy. Fewer workers applied for jobless claims last week than expected, an encouraging sign for a jobs market that has been the main pillar for an economy struggling under high inflation.

A revised reading on the overall economy, meanwhile, suggested that its contraction during the spring wasn’t quite as bad as earlier thought. It shrank 0.6% on an annualized basis, according to the government’s second preliminary reading, milder than the 0.9% given in its initial estimate.

The 10-year Treasury yield, which affects mortgage rates, fell to 3.03% from 3.11% late Wednesday.

That helped stocks that tend to benefit the most from lower interest rates, such as internet and technology companies. Businesses whose profits closely track the strength of the economy, such as producers of raw materials, also helped to lead the market.

Telehealth services providers were strong after Amazon shut down its in-house telemedicine service for employees. Teladoc gained 4%.

On the losing end were several companies that trimmed their financial forecasts for the year. Software company Salesforce fell 3.4%, and discount retailer Dollar Tree fell 10.2%.

Several retailers have cut their outlooks recently, even after reporting stronger profit for the latest quarter than expected. They’re struggling with swelling inventories and higher costs, while their customers likewise get squeezed by inflation, particularly lower-income ones.

Wall Street’s focus, though, remains on Jackson Hole, Wyoming, where economists from around the world are gathering for an annual symposium.

It’s been the setting for market-defining announcements by the Federal Reserve in past years, and investors are hoping Powell will offer some clarity about where interest rates are heading.

The Fed has already raised rates four times this year in its efforts to halt high inflation, with most of them bigger than the usual hike, and investors want to hear how it’s leaning for future increases. Powell will begin speaking at 10 a.m. Eastern time Friday, a half hour after trading begins on Wall Street.

Besides what the Fed will do with its key overnight interest rate, Powell may also talk about how the central bank is putting into reverse the “ money printer ” it used during the pandemic to goose the economy.

Stocks had jumped through the summer on hopes the Fed may go easier on rate hikes than feared, because investors were seeing signs the nation’s high inflation may be peaking. The hope was that the Fed could downshift the size of its rate increases sooner than expected and may not ultimately raise them as far as earlier thought.

But recent comments from a spate of Fed officials have pushed back on that narrative, leading to the hopes for more clarity from Powell on Friday.

Expectations have built among some investors for Powell to sound “hawkish,” which is Wall Street’s euphemism for a bias toward raising rates aggressively. But some investors at the same time are speculating the Fed could turn around quickly and actually begin cutting interest rates in 2023 given mounting pressures on the economy.

“The market is looking for a consistent policy,” Andy Sparks, head of portfolio management research at MSCI, said in a statement. “Raising rates and then allowing the market to believe it may soon begin lowering rates could undermine Fed credibility with market participants.”

Higher interest rates slow the economy in hopes of undercutting inflation. But they also risk choking off the economy if done too aggressively, and they pull down on prices for all kinds of investments.





The S&P 500 gained 58.35, or 1.4%, to 4,199.12 for its best day in nearly two weeks. Much of the lift came late in the day as traders made moves ahead of Friday morning’s speech by Federal Reserve Chair Jerome Powell, which has long been circled on Wall Street’s calendar.

The Dow Jones Industrial Average rose 322.55, or 1%, to 33,291.78, and the Nasdaq composite climbed 207.74, or 1.7%, to 12,639.27. All three indexes trimmed their losses for the week, caused by Monday’s tumble that was the worst for stocks in months.


----------



## bigdog

Dow drops 1,000 after Fed's Powell says rates will stay high
					

NEW YORK (AP) — The Dow Jones Industrial Average sank more than 1,000 points Friday after the head of the Federal Reserve dashed Wall Street’s hopes that it may soon ease up on high interest rates in its effort to tame inflation.




					apnews.com
				




Dow drops 1,000 after Fed’s Powell says rates will stay high​By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — The Dow Jones Industrial Average sank more than 1,000 points Friday after the head of the Federal Reserve dashed Wall Street’s hopes that it may soon ease up on high interest rates in its effort to tame inflation.

The S&P 500 lost 3.4%, its biggest drop since mid-June, after Jerome Powell said the Fed will likely need to keep interest rates high enough to slow the economy “for some time” in order to beat back the high inflation sweeping the country.

The Dow dropped 3% and the Nasdaq composite ended 3.9% lower, reflecting a broad sell-off led by technology stocks. Higher rates help corral inflation, but they also hurt asset prices.

The Fed has indicated it will raise rates into next year as it tries to quell demand and bring down prices for goods and services. But some investors speculated the central bank might pause or even reverse course next year if inflation subsides, leading to a rally for stocks in July and early August.

Some analysts expected Powell to bat down that talk in Friday’s speech, and he delivered. His speech followed up remarks by several other Fed officials, who also pushed back on speculation the Fed might act less aggressively or even “pivot.”

“He basically said there will be pain and that they won’t stop and can’t stop hiking until inflation moves a lot lower,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments.

Powell acknowledged the increases will hurt U.S. households and businesses, in perhaps an unspoken nod to the potential for a recession. But he also said the pain would be far greater if inflation were allowed to fester and that “we must keep at it until the job is done.”

He was speaking at an annual economic symposium in Jackson Hole, Wyoming, which has been the setting for market-moving Fed speeches in the past.

The sell-off capped a week of choppy trading that left major indexes down 4% or more for the week.

All told, the S&P 500 fell 141.46 points to 4,057.66. The benchmark index is now down almost 15% for the year.

The Dow lost 1,008.38 points to close at 32,283.40. The last time the blue-chip average had a 1,000-point drop was in May.

The Nasdaq slid 497.56 points to 12,141.71, its biggest drop since June.

The Russell 2000 index of smaller companies fell 64.81 points, or 3.3%, to finish at 1,899.83.

Stocks are still showing solid gains for the third quarter, with the S&P 500 up more than 7% and the Nasdaq up 10%. Recent earnings reports were better than some analysts had expected, and there are signs that inflation may have peaked although it remains at sharply elevated levels.

Still, Powell’s speech made clear the Fed will accept weaker growth for a while for the sake of getting inflation under control, analysts said.

“Powell reiterated that the Fed is worried about rising prices, and getting inflation under control is emphatically job number one,” said Jeff Klingelhofer, co-head of investments at Thornburg Investment Management.

Perhaps giving some hope to investors, some analysts said Powell seemed to indicate expectations for future inflation aren’t taking off. If that were to happen, it could cause a self-perpetuating cycle that worsens inflation.

A report on Friday said U.S. consumers are expecting 2.9% annual inflation over the long run, which is at the lower end of the 2.9% to 3.1% range seen in the University of Michigan’s survey over the last year.

For now, the debate on Wall Street is whether the Fed will raise short-term rates by either half a percentage point next month, double the usual margin, or by three-quarters of a point. The Fed’s last two hikes have been by 0.75 points, and a slight majority of bets on Wall Street are favoring a third such increase in September, according to CME Group.

A report Friday morning showed that the Fed’s preferred gauge of inflation decelerated last month and wasn’t as bad as many economists expected. It’s a potentially encouraging signal, which may embolden more of Wall Street to say that the worst of inflation has already passed or will soon.

Other data showed that incomes for Americans rose less last month than expected, while consumer spending growth slowed.

Following the reports and Powell’s comments, the two-year Treasury yield rose for much of the day, but slipped by late afternoon to 3.36% from 3.37% late Thursday. It tends to track expectations for Fed action.

The 10-year Treasury yield, which follows expectations for longer-term economic growth and inflation, initially rose then slipped to 3.02% from 3.03% late Thursday.

The Fed has already hiked its key overnight interest rate four times this year in hopes of slowing the worst inflation in decades. The hikes have already hurt the housing industry, where more expensive mortgage rates have slowed activity. But the job market has remained strong, helping to prop up the economy.

Investors got a fresh set of warnings from companies about the persistent impact from inflation and a slowing economy. Computer maker Dell slumped 13.5% after it said weaker demand will hurt revenue. Chipmaker Marvell Technology fell 8.9% after giving investors a disappointing earnings forecast.


----------



## bigdog

On Friday, the S&P 500 fell 141.46 points to 4,057.66. The benchmark index is now down almost 15% for the year.

The Dow lost 1,008.38 points to close at 32,283.40. The last time the blue-chip average had a 1,000-point drop was in May.

The Nasdaq slid 497.56 points to 12,141.71, its biggest drop since June.


----------



## bigdog

Asian stocks after Wall St pullback on Fed inflation stance
					

BEIJING (AP) — Asian stocks were mixed Tuesday after Wall Street fell following last week's Federal Reserve pledge to fight inflation by keeping interest rates elevated. Shanghai and Hong Kong fell while Tokyo and South Korea advanced.




					apnews.com
				




Wall Street closes lower, adding to last week’s losses​By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed broadly lower on Wall Street Monday, adding to their hefty losses from last week when the Federal Reserve pledged to keep interest rates high as long as it takes to tame inflation.

The S&P 500 fell 0.7% after wavering between small gains and losses. The Dow Jones Industrial Average fell 0.6% and the Nasdaq composite lost 1%. Smaller company stocks also fell, pulling the Russell 2000 0.8% lower.

The selling was widespread, with technology and health care stocks among the biggest weights on the market. Only energy and utilities stocks rose.

The market is coming off its worst weekly pullback since mid-June after Fed chief Jerome Powell indicated on Friday that the central bank will raise rates into next year and keep them elevated as it tries to quell demand and bring down prices for goods and services.

The open-endedness implied by how long the Fed may have to keep raising rates has, for now, quieted speculation on Wall Street that recent data showing more moderate inflation would prompt the central bank to act less aggressively.

“We’re in this period where you’re going to see volatility be more of the norm versus the exception and will probably continue until, frankly, inflation gets under control and that then sets the motion for the Fed to become a little bit more dovish,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.

The Fed’s last two hikes have been by 0.75 points, and Wall Street is expecting a third such increase in September, according to CME Group. Some investors had hoped that the Fed would ease up on rate hikes into next year if inflation subsides. That sentiment led to a rally for stocks in July and early August. All three major indexes are now lower this month.

On Monday, the S&P 500 fell 27.05 points to 4,030.61. The benchmark index fell 3.4% Friday, its biggest single-day drop since mid-June.

The Dow dropped 184.41 points to 32,098.99, while the Nasdaq slid 124.04 points to 12,017.67. The Russell 2000 gave up 16.89 points to 1,882.94.

Technology stocks, among the biggest decliners so far this year, led the way lower. Apple fell 1.4%.

Health care stocks also lost ground. Drug delivery technology company Catalent slumped 7.4% for the biggest drop in the S&P 500 after giving investors a disappointing revenue forecast.

Energy stocks made gains as U.S. crude oil prices rose 4.2%. Exxon Mobil rose 2.3%.

The yield on the 10-year Treasury, which follows expectations for longer-term economic growth and inflation, rose to 3.11% from 3.03% late Friday. The yield on the two-year Treasury, which tends to track expectations for Fed action, rose to 3.43% from 3.38%.

Investors have been closely watching economic reports to get a better sense of how much the economy is slowing and whether inflation is starting to cool from the hottest levels in four decades.

The Fed’s preferred gauge of inflation decelerated last month, while other data shows consumer spending slowed. Wall Street will get several more updates on the economy this week.

The Conference Board will release its latest reading on consumer confidence on Tuesday.

The government will release its closely watched monthly jobs report on Friday. The employment market has remained resilient amid a broader slowdown for the economy. That has helped temper worries that the U.S. is facing a potential recession.

European markets also closed lower and Asian markets closed lower overnight. Chinese economic data showing a drop in industrial profits indicated that a strong recovery there will take time, amid fresh COVID-19 restrictions.





The S&P 500 fell 0.7% after wavering between small gains and losses. The Dow Jones Industrial Average fell 0.6% and the Nasdaq composite lost 1%. Smaller company stocks also fell, pulling the Russell 2000 0.8% lower.


----------



## bigdog

My apologies for not being able to post today

Can only access with my phone


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## bigdog

Skate could you please make the posting for me today


----------



## Skate

*Stocks tumble again as Tuesday's market rally was brief*
Stocks opened higher but quickly gave up their gains. A more than 5% drop in oil prices, while welcome news to consumers, led to a big sell-off in energy stocks. The Dow tumbled nearly 310 points or 1%. Shares of Chevron (CVX), a Dow component, fell more than 2%. The S&P 500 was down 1.1% and oil stocks were the biggest losers. The S&P Energy Select Sector SPDR Fund (XLE) slid 3.4%.

*The entire market was reeling Tuesday*
The Nasdaq, home to many top tech stocks, fell 1.1% as well. Stocks suffered their third straight day of losses. Investors are still dealing with the aftermath of Federal Reserve chair Jerome Powell's speech at Jackson Hole on Friday, which led to a more than 1,000 point plunge in the Dow. The market was expecting some might say hoping that Powell would signal that the Fed was becoming less concerned about inflation, which would have been a possible sign that the central bank won't raise rates too aggressively at its September 21 meeting. But Powell instead talked about how continued rate hikes were still necessary to fight inflation, even if that meant "some pain" for consumers and businesses. As such, traders are now anticipating another three-quarter of a percentage point rate hike next month.

*Market volatility is taking place during a notoriously quiet time on Wall Street*
Trading volume is light as many investors are enjoying their last bits of summer vacation. What's more, there isn't a lot of economic or earnings data to move stocks right now. The numbers that did come out Tuesday were not too bad. Retailer sales were better than expected. US companies still have more job openings and consumer confidence actually rose in August.

*But good news can sometimes be viewed as bad news on Wall Street*
Any signs that the economy may be holding up better than thought and not heading toward a significant downturn will likely be interpreted as inflationary which means more big rate hikes could be coming. "Normally, seeing companies wanting to hire more workers is a good thing. However, after Fed Chair Powell's short Jackson Hole speech myopically focused on reducing demand and jobs, more jobs are more reason for the Fed to raise rates," Bryce Doty, senior portfolio manager with Sit Fixed Income Advisors, said in an email.

*Friday's jobs report*
With all that in mind, investors will be paying extremely close attention to Friday's jobs report. Economists expect that 300,000 jobs were added in August. Although that would be a slowdown from the 528,000 added in July, it's still a healthy gain for the nation's payrolls and would not be considered a harbinger of recession.

*ASX Market Watch*
Australian shares are set to open down as the fallout continued on Wall Street overnight. 
The ASX / SPI 200 is pointing down to 6,860.000 or -58 points. 






Skate.


----------



## bigdog

Asian shares track Wall Street slide on expected rate raises
					

TOKYO (AP) — Asian shares were mostly lower Thursday, tracking the broad slide on Wall Street, as investors braced for higher interest rates and inflation worries for some time.  Benchmarks fell in Tokyo, Sydney, South Korea and Hong Kong in early trading, but edged up slightly in Shanghai.




					apnews.com
				




Stocks end lower in choppy trading, on pace for weekly loss​By ALEX VEIGA

A choppy day of trading ended Wednesday with a broad slide for stocks as Wall Street closed the books on a rocky August that started off strong, but wound up leaving the market deeper in the red for the year.

The S&P 500 fell 0.8%, extending its losing streak to a fourth day. The benchmark index ended the month with a 4.2.% loss after surging 9.1% in July.

The Dow Jones Industrial Average fell 0.9%, while the Nasdaq composite slid 0.6%. The major stock indexes are on pace for weekly losses.

Technology stocks and big retailers were among the heaviest weights on the market. Only communications stocks eked out a slight gain. Smaller company stocks also fell, pulling the Russell 2000 index 0.6% lower.

The latest pullback for stocks came as Treasury yields rose broadly. The yield on the 10-year Treasury, which influences interest rates on mortgages and other consumer loans, rose to 3.17% from 3.11% late Tuesday.

Bond yields have been rising along with expectations for higher interest rates, which the Federal Reserve has been increasing in a bid to squash the highest inflation in decades.

“You have the bond market now taking the Fed seriously,” said Willie Delwiche, investment strategist at All Star Charts. “And it’s not that stocks can’t overcome that, but so far they haven’t overcome that.”

The last time stocks mounted a big rally was in July and early August, when bond yields came off their highs as expectations for higher rates eased.

“If the underlying trend in stocks is lower, then higher bond yields weigh on that,” Delwiche said.

The S&P 500 fell 31.16 points to 3,955. The index is now down 17% so far this year.

The Nasdaq lost 66.93 points to 11,816.20, while the Dow gave up 280.44 points to close at 31,510.43. The Russell fell 11.48 points to 1,844.12.

Stocks got off to a solid start in early August, continuing a July rally. Investors were encouraged to see that signs that inflation, while still high, was leveling off. That fueled optimism on Wall Street that the Federal Reserve might be able to ease back on raising interest rates, its main weapon in its fight to bring inflation down. Those gains followed a weak first half of the year where the S&P 500 dropped 20% from its most recent high and entered a bear market.

That optimism faded by mid-August as the central bank signaled it would keep raising rates and keep them high as long as necessary to tame the the hottest inflation in four decades. On Friday, Federal Reserve Chairman Jerome Powell underscored the Fed’s intention in a speech at the central bank’s annual symposium.

Wall Street is worried that the Fed could hit the brakes too hard on an already slowing economy and veer it into a recession. Higher interest rates also hurt investment prices, especially for pricier stocks like technology companies.

Traders are now trying to get a better sense of how far and how quickly the Fed’s rate hikes will go, beginning with the central bank’s upcoming interest rate policy meeting September 20-21. The Fed has already raised interest rates four times this year and is expected to raise short-term rates by another 0.75 percentage points at its September meeting, according to CME Group.

Investors have been closely watching economic data for any additional signs that the economy is slowing down or that inflation may be cooling or at least holding at its current level. Businesses and consumers have been hit hard by rising prices on everything from food to clothing, but recent declines in gasoline prices have provided some relief.

Strong U.S. employment data have helped fuel expectations of more interest rate hikes. The Labor Department reported Tuesday there were two jobs for every unemployed person in July, giving ammunition to Fed officials who argue the economy can tolerate more rate hikes to tame inflation that is at multi-decade highs.

On Wednesday, payroll processor ADP said its latest monthly survey of hiring by private U.S. companies showed payrolls increased by 132,000, well below the 275,000 economists expected, according to FactSet.

The ADP survey comes ahead of employment reports from the Labor Department this week: applications for unemployment benefits on Thursday and the August jobs report Friday. Analysts expect both to show a robust labor market.

Technology stocks and big retailers were among the heaviest weights on the market Wednesday. Chipmaker Nvidia fell 2.4% and Best Buy slid 5.6%. Energy companies fell as the price of U.S. crude oil dropped 2.3%. Occidental Petroleum slipped 1.4%.

Those losses kept gains in communications stocks and elsewhere in the market in check.

Bed Bath & Beyond sank 21.3% after announcing a major restructuring and a stock sale, while Snap, the operator of the Snapchat messaging app, jumped 8.7% after announcing it will lay off 20% of its work force.






The S&P 500 fell 31.16 points to 3,955. The index is now down 17% so far this year.

The Nasdaq lost 66.93 points to 11,816.20, while the Dow gave up 280.44 points to close at 31,510.43. The Russell fell 11.48 points to 1,844.12.











Thank you Skate for yesterday


----------



## bigdog

Asian stock markets mixed ahead of latest US jobs reading
					

BEIJING (AP) — Asian stock markets were mixed Friday ahead of U.S. jobs data that might influence Federal Reserve plans for more interest rate hikes to cool surging inflation. Shanghai and Seoul advanced while Tokyo and Hong Kong retreated.




					apnews.com
				




Stocks end mixed on Wall Street, S&P 500 ekes out a gain​By ALEX VEIGA

A late burst of buying erased some of the stock market’s losses Thursday, leaving indexes mixed on Wall Street though still on pace to end lower for the week.

The S&P 500 rose 0.3% after having been down 1.3% earlier in the day. The benchmark index’s positive turn in the last 10 minutes of trading ended a four-day losing streak.

The Dow Jones Industrial Average also bounced back from an early slide to finish with a 0.5% gain, while the tech-heavy Nasdaq composite fell 0.3%. Several measures of small and mid-size companies also lost ground, including the Russell 2000, which closed 1.2% lower.

The mixed finish for stocks comes as traders look ahead to the Labor Department’s latest monthly job market snapshot Friday. The Federal Reserve will consider the August update on job and wage growth as it determines further interest rate hikes in its bid to slow the economy enough to bring down inflation.

“We’ll be able to get a better read on markets tomorrow after that number comes out,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute. “At least right now, the path of least resistance for markets remains lower.”

The S&P 500 rose 11.85 points to 3,966.85, while the Dow added 145.99 points to 31,656.42. The Nasdaq slid 31.08 points to 11,785.13, its fifth straight drop. The Russell 2000 index of smaller companies fell 21.30 points to 1,822.82.

Gains in health care stocks, companies that rely on direct consumer spending and communications services providers helped lift the market. Johnson & Johnson rose 2.5%, Target gained 2.8% and Netflix added 2.9%.

Technology stocks were once again one of the heaviest weights on the market. Nvidia dropped 7.7% after the chipmaker said the U.S. government imposed new licensing requirements on its sales to China.

Energy stocks fell as the price of U.S. crude oil, which is coming off its third month of declines, dropped 3.3% to $86.61 a barrel. Chevron slid 1.6%.

Major indexes in Europe and Asia closed lower.

Treasury yields rose. The yield on the 10-year Treasury, which influences interest rates on mortgages and other consumer loans, rose to 3.26% from 3.20% late Wednesday. The two-year Treasury yield, which tends to track expectations for Fed action, rose to 3.52% from 3.50% and is now at the highest level since 2007.

Bond yields have been rising along with expectations for higher interest rates, which the Federal Reserve has been increasing in a bid to squash the highest inflation in decades.

Stocks have been mostly racking up losses in recent weeks, wiping out much of the gains the market made in July and early August. Traders remain remain wary of how the economy will hold up as the Fed ratchets up interest rates to fight inflation.

The selling accelerated beginning last week, when Federal Reserve Chairman Jerome Powell indicated that the central bank will likely need to keep interest rates high enough to slow the economy “for some time” in order to bring inflation down.

The Fed has already raised interest rates four times this year and is expected to raise short-term rates by another 0.75 percentage points at its next meeting later this month, according to CME Group.

Wall Street is worried that the Fed could hit the brakes too hard on an already slowing economy and veer it into a recession. Higher interest rates also hurt investment prices, especially for pricier stocks like technology companies.

The S&P 500 ended August with a 4.2% loss after surging 9.1% in July on optimism that the Fed might be able to ease back on raising rates following signs that inflation, while still high, was leveling off.

The July and early August market rally marked a brief positive turn for Wall Street after a weak first half of the year where the S&P 500 dropped 20% from its most recent high and entered a bear market. September may not offer much of a respite for investors, as historically it tends to be the worst month for stocks.

Investors have been closely watching economic data for any additional signs that the economy is slowing down or that inflation may be cooling or at least holding at its current level. Businesses and consumers have been hit hard by rising prices on everything from food to clothing, but recent declines in gasoline prices have provided some relief.

Strong U.S. employment data have helped fuel expectations of more interest rate hikes. The Labor Department reported Tuesday there were two jobs for every unemployed person in July, giving ammunition to Fed officials who argue the economy can tolerate more rate hikes to tame inflation that is at multi-decade highs.

On Thursday, the Labor Department said applications for unemployment benefits fell last week, the latest sign the job market continues to shine despite a slowing U.S. economy.





The S&P 500 rose 11.85 points to 3,966.85, while the Dow added 145.99 points to 31,656.42. The Nasdaq slid 31.08 points to 11,785.13, its fifth straight drop. The Russell 2000 index of smaller companies fell 21.30 points to 1,822.82


----------



## bigdog

Stocks shed early gains, end lower for 3rd straight week
					

Stocks gave up an early rally and closed lower Friday, marking their third losing week in a row and extending Wall Street's late-summer slump.  Major stock indexes initially climbed broadly following the government's latest job market report, which showed employers slowed their hiring  in August.




					apnews.com
				




*U.S. stock markets will be closed Monday for the Labor Day holiday.*

Stocks shed early gains, end lower for 3rd straight week​By ALEX VEIGA

Stocks gave up an early rally and closed lower Friday, marking their third losing week in a row and extending Wall Street’s late-summer slump.

Major stock indexes initially climbed broadly following the government’s latest job market report, which showed employers slowed their hiring in August. The report put traders in a buying mood, stoking cautious optimism that the Federal Reserve may not need to raise interest rates as aggressively in its ongoing bid to tame inflation.

But the market reversed course by mid-afternoon, shedding all its gains. That left the S&P 500 and Dow Jones Industrial Average 1.1% lower. The Nasdaq composite fell 1.3%.

“The jobs report today was nice, but it was not enough to obviously sustain the rally,” said Ross Mayfield, investment strategist at Baird. “The bar to clear is ‘does this change the trajectory of the Fed?’ And I don’t know that this report is enough to say yes.”

In recent weeks, the market has wiped out much of the gains it made in July and early August as traders worried that the Fed would not let up anytime soon on raising interest rates to bring down the highest inflation in decades.

The latest jobs data appeared to give traders some hope that a key driver of inflation is cooling. On Friday, the Labor Department reported that the U.S. economy added 315,000 jobs last month, down from 526,000 in July and below the average gain of the previous three months. The unemployment rate also rose to 3.7% from 3.5% in July.

Average hourly pay jumped 5.2% last month from a year earlier, but slowed slightly from July to August. That’s a welcome sign in the inflation fight, as businesses typically pass the cost of higher wages on to their customers through higher prices.

”Today’s jobs report was a step in the right direction, in that the pace of job and wage growth stabilized,” said Matt Peron, director of Research at Janus Henderson Investors. “However, we reiterate our caution that we are not out of the woods just yet, as stubbornly high wage gains could keep the Fed on an aggressive path.”

The Fed has already raised interest rates four times this year and is expected to raise short-term rates by another 0.75 percentage points at its next meeting later this month, according to CME Group. Following the jobs report, expectations for that three-quarter percentage point hike fell to 56% from 75% on Thursday.

Market watchers such as David Kelly, chief global strategist at J.P. Morgan Asset Management, said they still expect the central bank to raise rates later this month by another 0.75 percentage points.

Signs of some slack in the labor market as well as more welcome news on falling gas prices “increase the odds that the economy could gradually return to milder inflation over the course of the next year without falling into recession,” Kelly said.

Stocks entered a skid last week after Chair Jerome Powell said the Fed needs to keep rates elevated enough “for some time” to slow the economy.

“The Fed is not going to be swayed by one or two pieces of data, and they are steadfast about getting inflation down,” Mayfield said. “They need a really broad and long body of evidence before they’re going to pivot because the last thing they want is to quit too early.”

The latest jobs data comes a day after the Labor Department reported unemployment claims fell last week in another sign of a strong job market. It said earlier this week there were two jobs for every unemployed person in July.

The Fed will also get to review upcoming reports on consumer prices and inflation at the wholesale level, among other economic reports, before its next interest rate policy meeting.

Friday’s afternoon market reversal followed an announcement by Russian state-run energy giant Gazprom that a halt in natural gas supply through the Nord Stream 1 pipeline to Germany may be prolonged. The company cited the need for urgent maintenance work on the pipeline. On Wednesday, Gazprom completely halted the flow of gas through the pipeline and said the stoppage would last for three days.

Treasury yields, which have been rising along with expectations for higher interest rates, fell broadly. The yield on the 10-year Treasury, which influences interest rates on mortgages and other loans, slipped to 3.20% from 3.26% late Thursday. The two-year Treasury yield, which tends to track expectations for Fed action, fell to 3.40% from 3.52%.

*U.S. stock markets will be closed Monday for the Labor Day holiday.*


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## bigdog

*U.S. stock markets will be closed Monday for the Labor Day holiday.*

The S&P 500 and Dow Jones Industrial Average was 1.1% lower. The Nasdaq composite fell 1.3%.


----------



## bigdog

*U.S. stock markets WAS closed Monday for the Labor Day holiday.*









						Global stocks sink as Europe faces new squeeze on gas supply
					

BEIJING (AP) — Global stock markets sank Monday as Europe faced a new squeeze on Russian gas supplies. London and Frankfurt opened lower. Tokyo, Hong Kong and South Korea fell while Shanghai gained.




					apnews.com
				




Global stock markets sank Monday as Europe faced a new squeeze on Russian gas supplies.

London and Frankfurt opened lower. Tokyo, Hong Kong and South Korea fell while Shanghai gained. Oil prices rose more than $2 per barrel while the euro edged lower.

Markets were roiled by Russian energy giant Gazprom’s announcement Friday that a suspension of gas supplies through the Nord Stream 1 pipeline would be extended indefinitely. That adds to shortages in Germany and other economies.

In early trading, the FTSE 100 in London lost 1.1% to 7,198.73 and the DAX in Frankfurt tumbled 3.2% to 12,628.44., The CAC 40 in France fell 2% to 6,047.28.

Gazprom’s announcement puts European stocks under “heavy pressure,” said Chris Turner of ING in a report.

Also Friday, U.S. government data showed hiring slowed in August but wages rose sharply. Forecasters said the Federal Reserve might see that as evidence more interest rate hikes are needed to bring down inflation that is at a four-decade high.

“Markets relinquished early optimism for a sense of foreboding,” said Tan Boon Heng of Mizuho Bank in a report.

On Wall Street, the S&P 500 future was off less than 0.1%. That for the Dow Jones Industrial Average gained less than 0.1%.

The Dow also fell 1.1% on Friday after the Labor Department reported the U.S. economy added 315,000 jobs in August. That was down from July’s 526,000, but average hourly pay jumped by an unusually wide margin of 5.2% compared with a year earlier.

The Nasdaq composite lost 1.3%.

In Asia, the Shanghai Composite Index advanced 0.4% to 3,199.91 after the Chinese government tightened controls on movement in the southern business center of Shenzhen following virus outbreaks.

The Nikkei 225 in Tokyo lost 0.1% to 27,619.61 while the Hang Seng in Hong Kong tumbled 1.2% to 19,225.70.

The Kospi in Seoul lost 0.2% to 2,403.68 while Sydney’s S&P-ASX 200 added 0.3% to 6,852.20.

New Zealand and Bangkok declined while Singapore and Jakarta advanced.

European economies face gas shortages after their governments agreed to wind down purchases from Russia to punish the Kremlin for invading Ukraine.

Last week, state-owned Gazprom announced a three-day suspension of gas supplies through Nord Stream 1 due to urgent maintenance work.

On Friday, the company said that would be extended indefinitely. Russia already has reduced supplies to countries that sided with Ukraine.

Meanwhile, traders are uneasily watching the Fed after chair Jerome Powell said Aug. 26 interest rates have to stay elevated to rein in surging inflation. That dashed hopes the Fed might back off due to signs U.S. economic activity is cooling.

The Fed has raised rates four times this year, twice by 0.75 percentage points, triple its usual margin.

Central banks in Europe and Asia also have hiked rates, fueling worries they might derail global economic growth.

The U.S. market has given up much of the gains made in July and August when traders hoped the Fed might ease up.

Traders expect another 0.75 percentage point rate hike at this month’s Fed meeting, according to CME Group.

In energy markets, benchmark U.S. crude gained $2.18 to $89.05 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 26 cents to $86.87 on Friday. Brent crude, the price basis for international oil trading, added $2.54 to $95.56 per barrel in London. It advanced 66 cents the previous session to $93.02.

The dollar advanced to 140.50 yen from Friday’s 140.13 yen. The euro declined to 99.26 cents from 99.64 cents.






*U.S. stock markets WAS closed Monday for the Labor Day holiday.*





*Rest of world trading



*


----------



## bigdog

Asian shares decline on Wall Street losses, rate worries
					

TOKYO (AP) — Asian shares were mostly lower Wednesday, as pessimism prevailed about higher interest rates ahead and Wall Street shares fell for the fourth straight week.  Shares fell in early trading in Tokyo, Sydney, South Korea and Hong Kong, but were little changed in Shanghai.




					apnews.com
				




Stocks drift lower, extending losses into 4th straight week​By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed lower on Wall Street Tuesday, extending the market’s losses into a holiday-shortened week.

The S&P 500 fell 0.4% after bouncing between a gain of 0.5% and a loss of 1%. The Dow Jones Industrial Average fell 0.6% and the Nasdaq lost 0.7%.

The major indexes are coming off their third losing week in a row, part of a late-summer slump that erased much of the benchmark S&P 500′s gains from July and early August.

Stocks have been losing ground as the Federal Reserve has indicated it will not let up anytime soon on raising interest rates to bring down the highest inflation in decades.

In addition, Wall Street is grappling with worries about a brewing energy crisis in Europe and the implications it could have for the global economy and corporate profits, given that companies in the S&P 500 get half their revenue from abroad, said Michael Antonelli, market strategist at Baird.

“Each day that goes by that we have to talk about an energy crisis or a gas shortage or out of control electrical bills in Europe, the less the market can make constructive headway,” he said.

The S&P 500 fell 16.07 points to 3,908.19. The Dow slid 173.14 points to 31,145.30, while the Nasdaq fell 85.96 points to 11,544.91.

Smaller company stocks fell more than the broader market. The Russell 2000 index fell 17.42 points, or 1%, to 1,792.32.

Technology and communications stocks were among the biggest losers. Intel fell 2.8% and Netflix dropped 3.4%.

Bed Bath & Beyond fell 18.4% following the death of its chief financial officer. The company has been suffering from a prolonged sales slump and executive turnover.

The company that wants to take Trump Media public, Digital World Acquisition, plunged 11.4% following reports it didn’t receive enough shareholder support for an extension to close the deal.

ADT rose 16.4% after State Farm said it was taking a 15% stake in the home security company.

Markets in the U.S. were closed on Monday for the Labor Day holiday.

Trading began Tuesday at the New York Stock Exchange after Ukrainian President Volodymyr Zelenskyy virtually rang the opening bell. He gave a pitch for a program to attract large-scale investments to his country as it continues to battle Russian forces.

Markets have been slipping in recent weeks as inflation remains hot and the Federal Reserve stays on track to continue raising interest rates to try and tame stubbornly persistent high prices. The big concern is that the Fed might go too far in raising rates and slam the brakes too hard on an already slowing economy, potentially causing a recession.

Wall Street has been closely watching economic data for clues that inflation might be easing, which traders hope will give the Fed a reason to ease up on rate hikes. The Fed has already raised interest rates four times this year and is expected to raise short-term rates by another 0.75 percentage points at its next meeting later this month, according to CME Group.

“There’s a fairly consensus view now that the Fed is going to be higher for longer and err on the side of inflation reduction over employment and growth,” said Mark Hackett, chief of investment research at Nationwide.

Bond yields rose. The yield on the 10-year Treasury, which influences interest rates on mortgages and other loans, rose to 3.34% from 3.19% late Thursday. The two-year Treasury yield, which tends to track expectations for Fed action, rose to 3.51% from 3.39%





The S&P 500 fell 16.07 points to 3,908.19. The Dow slid 173.14 points to 31,145.30, while the Nasdaq fell 85.96 points to 11,544.91.


----------



## bigdog

Asia shares rise as Wall Street on track to end loss streak
					

TOKYO (AP) — Asian benchmarks mostly rose Thursday, as investor optimism got a perk from a rally on Wall Street that's on track to break a three-week losing streak. Japan's benchmark Nikkei 225 surged nearly 2.0% in morning trading to 27,964.16.




					apnews.com
				




Stocks charge higher on Wall Street, erasing weekly losses​By DAMIAN J. TROISE and ALEX VEIGA

Stock indexes on Wall Street closed solidly higher Wednesday, placing the market on pace to break a 3-week losing streak.

The S&P 500 rose 1.8% Wednesday, its biggest single-day gain in four weeks, with roughly 95% of the stocks in the benchmark index closing higher.

The Dow Jones Industrial Average rose 1.4% and the tech-heavy Nasdaq climbed 2.1%. Smaller company stocks outgained the broader market, driving the Russell 2000 index 2.2% higher.

The indexes are now all in the green for the week, a welcome respite for traders after a slump in recent weeks that erased much of the market’s gains from a July and early August rally.

Wall Street watchers cautioned that the market is likely to see more volatility in coming weeks ahead of the next Federal Reserve interest rate policy update scheduled for Sept. 21.

“It’s good that there’s an up day, but I would caution anyone not to be too optimistic right now,” said Randy Frederick, managing director of trading & derivatives at Charles Schwab. “You don’t have a whole lot of reason for that.”

Stocks have been mostly losing ground in recent weeks after the Federal Reserve indicated it will not let up anytime soon on raising interest rates to bring down the highest inflation in decades.

Wall Street’s focus remains on inflation and the Fed’s attempt to rein it in with high interest rates. The central bank has already raised rates four times this year and markets expect them to deliver another jumbo-sized increase of three-quarters of a percentage point at their next meeting in two weeks.

The central bank has been clear about its determination to continue raising rates until it feels that inflation is leveling off or cooling. In June, Fed officials projected that the benchmark rate will reach a range of 3.25% to 3.5% by year’s end and roughly a half-percentage point more in 2023.

“We are in this for as long as it takes to get inflation down,” Fed Vice Chair Lael Brainard said at a banking industry conference on Wednesday. “Our resolve is firm, our goals are clear, and our tools are up to the task.”

Investors have been reviewing economic data to gauge whether price increases on everything from food to clothing and gas are easing. They are also closely listening for any clues about potential changes in policy from Fed officials.

Traders clawed back some of their recent losses with Wednesday’s rally, which pushed the S&P 500 up 71.68 points to 3,979.87. The Dow rose 435.98 points to 31,581.28, and the Nasdaq gained 246.99 points to 11,791.90.

The Russell 2000 climbed 39.68 points to 1,832.

Technology stocks and retailers made solid gains. Intuit rose 3.9%. Target rose 4.4% after announcing that it is dropping the mandatory retirement age for its CEO position, allowing CEO Brian Cornell to stay on for three more years.

United Airlines rose 5.5% after raising its revenue forecast following a busy summer travel season. The encouraging update helped several competitors take flight. American Airlines rose 5.1% and Delta Air Lines added 3.3%.

Energy stocks fell broadly as U.S. crude oil prices slid 5.7%. Chevron fell 1.3%.

Bond yields fell. The yield on the 10-year Treasury, which influences interest rates on mortgages and other loans, fell to 3.27% from 3.34% late Tuesday. The two-year Treasury yield, which tends to track expectations for Fed action, fell to 3.45% from 3.51%.

Markets in Europe closed mostly higher, while those in Asia ended mostly lower.







Traders clawed back some of their recent losses with Wednesday’s rally, which pushed the S&P 500 up 71.68 points to 3,979.87. The Dow rose 435.98 points to 31,581.28, and the Nasdaq gained 246.99 points to 11,791.90.

The S&P 500 rose 1.8% Wednesday, its biggest single-day gain in four weeks, with roughly 95% of the stocks in the benchmark index closing higher. 


The Dow Jones Industrial Average rose 1.4% and the tech-heavy Nasdaq climbed 2.1%. Smaller company stocks outgained the broader market, driving the Russell 2000 index 2.2% higher.


----------



## bigdog

https://www.usnews.com/news/business/articles/2022-09-08/asia-shares-rise-as-wall-street-on-track-to-end-loss-streak
		


Stocks Recover From a Stumble on Wall Street and End Higher​The stock market recovered from a midday stumble and ended higher, staying on track for its first weekly gain in four weeks.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers
Stocks bounced back from a midday stumble and closed higher Thursday, keeping the major indexes on track for their first weekly gain in four weeks.

The S&P 500 closed 0.7% higher, after recovering from a 0.9% slide in the early going. The Dow Jones Industrial Average and the Nasdaq composite each gained 0.6% after making it through their own bumpy ride. The indexes are on pace for a weekly gain after posting losses for the previous three weeks.

Wall Street had its eye on interest rates, as the European Central Bank made its largest-ever rate increase to fight inflation. The move is in line with steps taken by the U.S. Federal Reserve and other central banks.

Investors also heard from Fed Chair Jerome Powell, who reaffirmed the central bank’s commitment to keep rates high as long as necessary to get inflation under control.

Traders “were initially caught off-guard by how firm the Fed’s position remains on fighting inflation,” said Sam Stovall, chief investment strategist at CFRA. “But once investors realized that he wasn’t really saying anything different than what he had said before, the markets swung back.”

The S&P 500 rose 26.31 points to 4,006.18. It's up 2.1% so far this week.

The Dow swung from a 259-point loss to a gain of 193.24 points, closing at 31,744.52. The Nasdaq gained 70.23 points to 11,862.13.
Smaller company stocks also gained ground after an initial pullback. The Russell 2000 rose 14.90 points, or 0.8%, to 1,846.91.
Stocks have been mostly losing ground in recent weeks after the Federal Reserve indicated it will not let up anytime soon on raising interest rates to bring down the highest inflation in decades. The interest rate policies of the Fed and other central banks, which also have a powerful influence on stock and bond markets, have become a major focus for investors.

On the same day the European Central Bank delivered its big rate increase, Powell told a conference on monetary policy hosted by the Cato Institute, a think tank that promotes libertarian ideas, that the Fed would keep rates high “until the job is done” in getting inflation back down to its 2% goal.

“There is a record of failed attempts to get inflation under control, which only raises the ultimate costs to society,” Powell said.
The Fed has already raised rates four times this year and markets expect it to deliver another jumbo-sized increase of three-quarters of a percentage point at its next meeting in two weeks.

Powell “sounded very resolute in the (Fed’s) mission to squelch inflation, and as a result probably gave more credence to the possibility of a 75-basis point hike at the September meeting,” Stovall said.

One of the Fed’s biggest fears is that households and businesses begin to expect inflation to stay high in the long term, which could lead them to start buying in a way that creates a vicious cycle making inflation even harder to shake.

The Fed has caught criticism for not taking inflation seriously sooner, and Powell said that setting interest-rate policy is an art as much of a science. A big question remains about whether the high inflation ravaging economies around the world is a one-off created by the pandemic or the start of something more persistent.

Bond yields rose broadly as traders weighed Powell's remarks and the ECB's rate hike. The two-year Treasury yield, which tends to track expectations for Fed action, rose to 3.52% from 3.44%. The yield on the 10-year Treasury, which influences interest rates on mortgages and other loans, rose to 3.32% from 3.27% late Tuesday.

Health care stocks accounted for a big share of the S&P 500′s gains. Regeneron Pharmaceuticals surged 18.8% after the company and partner Bayer reported encouraging study data on an anti-blindness drug.





The S&P 500 closed 0.7% higher, after recovering from a 0.9% slide in the early going. The Dow Jones Industrial Average and the Nasdaq composite each gained 0.6% after making it through their own bumpy ride. The indexes are on pace for a weekly gain after posting losses for the previous three weeks.










My apologies for late posting

John


----------



## bigdog

Stocks end broadly higher, breaking a 3-week losing streak
					

Wall Street added to its recent gains Friday with a broad rally that broke the market's three-week losing streak. The S&P 500 closed 1.5% higher, its third straight increase, and ended with a 3.7% gain for the week.




					apnews.com
				




Stocks end broadly higher, breaking a 3-week losing streak​By DAMIAN J. TROISE and ALEX VEIGA

Wall Street added to its recent gains Friday with a broad rally that broke the market’s three-week losing streak.

The S&P 500 closed 1.5% higher, its third straight increase, and ended with a 3.7% gain for the week. That makes it the benchmark index’s best week going back to July.

Big gains for technology companies pushed the Nasdaq composite to a 2.1% gain, while the Dow Jones Industrial Average rose 1.2%. Both indexes also notched their first weekly gain in four weeks.

The latest gains punctuated a holiday-shortened week of trading on Wall Street during which the market regained some of the ground it lost after a mid-August slump that wiped away the much of the gains from a mid-summer rally.

A weaker dollar and a reversal among short-sellers — traders who bet that the market will go lower —- appeared to be responsible for some of the rally Friday, said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

“You had a little bit of a positive catalyst in the dollar coming off today, and lo and behold that extreme positioning had to kind of be unwound,” he said. “We probably wouldn’t read too much into it. For us, anyway, the trend in (stocks) remains lower.”

The S&P 500 rose 61.18 points to 4,067.36. The index is still down about 15% so far this year.

The Dow added 377.19 points to 32,151.71, while the Nasdaq rose 250.18 points to 12,112.31.

Technology stocks and retailers had some of the biggest gains. Microsoft rose 2.3% and Amazon rose 2.7%.

DocuSign jumped 10.5% after the electronic signature company reported strong second-quarter sales and raised its subscription forecast.

All 11 industry sectors in the benchmark S&P 500 rose, though makers of household goods and utilities, which are typically considered less risky investments, lagged the market. U.S. crude oil prices rose 3.9%, helping push up energy sector stocks. Exxon Mobil rose 1.7%.

Smaller company stocks also notched solid gains. The Russell 2000 index rosed 35.94 points, or 1.9%, to 1,882.85.

Bond yields mostly rose. The yield on the 10-year Treasury, which influences interest rates on mortgages and other loans, slipped to 3.31 from 3.33% late Thursday. The two-year Treasury yield, which tends to track expectations for actions by the Federal Reserve, rose to 3.57% from 3.51%.

The Fed has been the main focus for investors as they try to figure out whether the central bank’s plan to cool the hottest inflation in four decades will work or possibly trip an already slowing economy into a recession.

Stocks spent July and part of August gaining ground on hopes that the Fed would ease up on its interest rate hikes, but slumped over the last few weeks as it became clear the central bank remained resolute in raising rates.

The central bank has already raised rates four times this year and markets expect it to deliver another jumbo-sized increase of three-quarters of a percentage point at its next meeting in two weeks. Fed officials, including Chair Jerome Powell, have all reaffirmed the central bank’s determination in raising rates until inflation is under control.

That has left investors closely watching economic data for any sign that inflation might be cooling. The calendar for such updates will be busy next week.

The Labor Department will release its report on consumer prices for August on Tuesday and a report on wholesale prices on Wednesday. On Thursday, Wall Street will get an update on retail sales for August


----------



## bigdog

On Friday, the S&P 500 rose 61.18 points to 4,067.36. The index is still down about 15% so far this year.

The Dow added 377.19 points to 32,151.71, while the Nasdaq rose 250.18 points to 12,112.31.


----------



## bigdog

Asian stocks gain ahead of US inflation report
					

BEIJING (AP) — Asian stocks followed Wall Street higher on Tuesday ahead of data traders hope will show surging U.S. inflation eased in August, reducing pressure for more interest rate hikes. Shanghai, Tokyo, Hong Kong and Sydney advanced.




					apnews.com
				




Wall Street rallies further ahead of inflation report​By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — Stocks climbed again Monday, as Wall Street made its final moves ahead of a high-stakes report that will hopefully show inflation hammered the economy less hard last month.

The S&P 500 rose 43.05, or 1.1%, to 4,110.41 for its fourth straight gain. That’s its longest winning streak since July, in the early days of the market’s bounce back from its battering earlier in the year.

The Dow Jones Industrial Average gained 229.63, or 0.7%, to 32,381.34, and the Nasdaq composite rallied 154.10, or 1.3%, to 12,266.41.

The nation’s punishingly high inflation, and the steps the Federal Reserve is taking to combat it, have been the driving forces on Wall Street all year. Economists expect a report on Tuesday to show that prices for consumers were 8.1% higher in August than a year earlier, but that inflation was not as bad as July’s 8.5% rate.

A slowdown would bolster hopes that inflation topped out in June at 9.1% and is on its way back down. That in turn could allow the Federal Reserve to avoid a worst-case scenario for markets, where it jacks short-term interest rates up to recession-causing levels and holds them there a long time.

“This week is going to be very telling,” said James Demmert, founder and managing partner at Main Street Research.

Beyond Tuesday’s headliner report on inflation at the consumer level, a report on Wednesday is expected to show inflation slowed at the wholesale level last month. A report the following day will show how U.S. households have altered their spending amid high inflation, while a Friday report will show how much inflation households are preparing for in upcoming years.

They’re all crucial data points for the Federal Reserve as it mulls how much to raise interest rates at its meeting next week. Fed officials have loudly reaffirmed recently their plans to raise rates enough to slow the economy, plus their commitment to keeping rates high for long enough to ensure the job is done on inflation.

But with Tuesday’s report possibly continuing a trend, many investors and economists are hopeful that inflation could return to more “normal” levels quickly, unlike the 1970s, when it took many years.

Jonathan Golub, chief U.S. equity strategist at Credit Suisse, wrote in a report that investors and economists expect inflation to collapse within the next 12 to 18 months.

Markets are fairly convinced the Fed will hike its key short-term interest rate by a hefty 0.75 percentage points next week for the third straight meeting. But the hope is that an easing of inflation will allow the Federal Reserve to successfully tiptoe the narrow pathway for a “soft landing” of the economy.

That’s where higher rates slow the economy enough to halt inflation but not so much as to cause a scarring recession. Higher rates hurt the economy by making it more expensive to buy a house, a car or anything else bought on credit. They also push down on prices for stocks, bonds and other investments.

Many traders are forecasting the Fed will begin downshifting the size of its rate increases after next week through the end of the year, before potentially keeping rates steady through the first half of 2023.

Of course, such hopes could also be setting Wall Street up for disappointment. The economy has given head fakes on inflation before, with hopes percolating that a peak has passed only to begin accelerating again.

Demmert said the broader market is looking for inflation to not just peak, but to start cooling meaningfully. He said the strong hopes for Tuesday’s inflation report are likely “not going to be healthy for stocks.”

Wall Street economists are still split on whether the U.S. economy will fall into a recession next year because of higher interest rates and other factors.

The Fed has already raised short-term rates four times this year, and its aggressive moves have helped the value of the U.S. dollar soar against many other foreign currencies.

A strong dollar helps to limit inflation at home by pushing down on prices for commodities and imports, but it can also hurt profits for U.S. companies that have a lot of sales coming from overseas. The dollar gave up some of its gains on Monday after slipping against the euro, British pound and several others.

Treasury yields were mixed. The 10-year Treasury yield, which helps control where mortgages and rates for other loans are heading, is back at 3.34%, close to its highest level in more than a decade.

The two-year yield, which tends to track expectations for Fed action, held steady at 3.56%. It remains close to its highest level since before the 2008 financial crisis.

In the stock market, the vast majority of stocks rallied. Energy producers were close to the top of the leaderboard, benefiting from climbing oil prices.

Bristol-Myers Squibb gained 3.1% for one of the biggest gains in the S&P 500 after federal regulators approved its treatment for adults with moderate to severe plaque psoriasis.





The S&P 500 rose 43.05, or 1.1%, to 4,110.41 for its fourth straight gain. That’s its longest winning streak since July, in the early days of the market’s bounce back from its battering earlier in the year.

The Dow Jones Industrial Average gained 229.63, or 0.7%, to 32,381.34, and the Nasdaq composite rallied 154.10, or 1.3%, to 12,266.41.


----------



## bigdog

Asian markets open lower after price data slam Wall Street
					

Asian markets skidded lower on Wednesday after Wall Street fell the most since June 2020 as a report showed inflation has kept a surprisingly strong grip on the U.S. economy. Tokyo’s benchmark Nikkei 225 lost 2.8% in early trading Wednesday, to 27,816.58, while Sydney's S&P/ASX 200 declined 2.5%...




					apnews.com
				




Markets shudder on dashed inflation hopes; Dow falls 1,250​By STAN CHOE and ALEX VEIGA

NEW YORK (AP) — The Dow Jones Industrial Average sank more than 1,250 points Tuesday, its steepest sell-off in more than two years, after a government report showed that inflation is maintaining a surprisingly strong grip on the U.S. economy.

The S&P 500 sank 4.3%, its biggest drop since June 2020. The Dow fell 3.9% and the Nasdaq composite closed 5.2% lower. The sell-off ended a four-day winning streak for the major stock indexes and erased an early rally in European markets.

Bond prices also fell sharply, sending their yields higher, after a report showed inflation decelerated only to 8.3% in August, instead of the 8.1% economists expected.

The hotter-than-expected reading has traders bracing for the Federal Reserve to ultimately raise interest rates even higher than expected to combat inflation, with all the risks for the economy that entails. Fears about higher rates sent prices dropping for everything from gold to cryptocurrencies to crude oil.

“Right now, it’s not the journey that’s a worry so much as the destination,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments. “If the Fed wants to hike and hold, the big question is at what level.”

The S&P 500 fell 177.72 points to 3,932.69. The drop didn’t quite knock out its gains over the past four days. The index is now down 17.5% so far this year.

The Dow lost 1,276.37 points to 31,104.97, and the Nasdaq dropped 632.84 points to 11,633.57.

All but six of the stocks in the S&P 500 fell. Technology and other high-growth companies fell more than the rest of the market because they’re seen as most at risk from higher rates.

Most of Wall Street came into the day thinking the Fed would hike its key short-term rate by a hefty three-quarters of a percentage point at its meeting next week. But the hope was that inflation was in the midst of quickly falling back to more normal levels after peaking in June at 9.1%.

The thinking was that such a slowdown would let the Fed downshift the size of its rate hikes through the end of this year and then potentially hold steady through early 2023.

Tuesday’s report dashed some of those hopes.

“This piece of data just hammered home that the Fed isn’t going to have the data to do anything differently than continue on their rate-raising path for longer,” said Tom Martin, senior portfolio manager with Globalt Investments. “It just increases the chance of an actual recession.”

Many of the data points within the inflation report were worse than economists expected, including some the Fed pays particular attention to, such as inflation outside of food and energy prices.

Markets honed in on a 0.6% rise in such prices during August from July, double what economists expected, said Gargi Chaudhuri, head of investment strategy at iShares.

The inflation figures were so much worse than expected that traders now see a one-in-three chance for a rate hike of a full percentage point by the Fed next week. That would be quadruple the usual move, and no one in the futures market was predicting such a hike a day earlier.

The Fed has already raised its benchmark interest rate four times this year, with the last two increases by three-quarters of a percentage point. The federal funds rate is currently in a range of 2.25% to 2.50%.

“The Fed can’t let inflation persist. You have to do whatever is necessary to stop prices from going up,” said Russell Evans, managing principal at Avitas Wealth Management. “This indicates the Fed still has a lot of work to do to bring inflation down.”

Higher rates hurt the economy by making it more expensive to buy a house, a car or anything else bought on credit. Mortgage rates have already hit their highest level since 2008, creating pain for the housing industry. The hope is that the Fed can pull off the tightrope walk of slowing the economy enough to snuff out high inflation, but not so much that it creates a painful recession.

Tuesday’s data puts hopes for such a “soft landing” under more threat. In the meantime, higher rates also push down on prices for stocks, bonds and other investments.

Investments seen as the most expensive or the riskiest are the ones hardest hit by higher rates. Bitcoin tumbled 9.4%.

To be sure, the stock market’s losses only return the S&P 500 close to where it was before its recent winning streak. That run was built on hopes that Tuesday’s inflation report would show a more comforting slowdown. The ensuing wipeout fits what’s become a pattern on Wall Street this year: Stocks fall on worries about inflation, turn higher on hopes the Fed may ease up on rates and then fall again when data undercuts those hopes.

Treasury yields leaped immediately on expectations for a more aggressive Fed. The yield on the two-year Treasury, which tends to track expectations for Fed actions, soared to 3.74% from 3.57% late Monday. The 10-year yield, which helps dictate where mortgages and rates for other loans are heading, rose to 3.42% from 3.36%.

Expectations for a more aggressive Fed also helped the dollar add to its already strong gains for this year. The dollar has been surging against other currencies in large part because the Fed has been hiking rates faster and by bigger margins than many other central banks.





The Dow Jones Industrial Average sank more than 1,250 points Tuesday, its steepest sell-off in more than two years, after a government report showed that inflation is maintaining a surprisingly strong grip on the U.S. economy.

The S&P 500 sank 4.3%, its biggest drop since June 2020. The Dow fell 3.9% and the Nasdaq composite closed 5.2% lower.

The S&P 500 fell 177.72 points to 3,932.69. The drop didn’t quite knock out its gains over the past four days. The index is now down 17.5% so far this year.

The Dow lost 1,276.37 points to 31,104.97, and the Nasdaq dropped 632.84 points to 11,633.57.


----------



## bigdog

Asian shares mostly higher after wobbly gains on Wall St
					

Shares were mostly higher in Asia on Thursday after a wobbly day of trading yielded modest gains on Wall Street.  U.S. futures inched up while oil prices were mixed. Shanghai’s benchmark lost 1% to 3,204.93 after China's central bank left its benchmark lending rate unchanged.




					apnews.com
				




Stocks manage to post modest gains after a wobbly day​By DAMIAN J. TROISE and ALEX VEIGA

Stocks on Wall Street shook off an afternoon slide and finished modestly higher Wednesday, clawing back some of their losses a day after the market’s worst skid in two years.

The wobbly trading came as investors weighed another snapshot of inflation. Markets have been on edge about the possibility of a recession after a string of interest rate hikes by the Federal Reserve this year as the central bank fights inflation.

The S&P 500 rose 0.3% after wavering between small gains and losses much of the afternoon. The benchmark index was coming off its biggest drop since June 2020, which ended a four-day winning streak.

The Dow Jones Industrial Average closed 0.1% higher, while the Nasdaq composite rose 0.7%. Smaller company stocks also rose, pushing the Russell 2000 to a 0.4% gain.

Bond yields remained relatively stable after leaping higher on Tuesday. The yield on the two-year Treasury rose to 3.79% from 3.75% late Tuesday, when it soared on expectations for more aggressive interest rate hikes by the Federal Reserve.

The yield on the 10-year Treasury, which helps dictate where mortgages and rates for other loans are heading, held steady at 3.41%.

A report on inflation at the wholesale level showed prices are still rising rapidly, with pressures building underneath the surface, even if overall inflation slowed. It echoed a report on inflation at the consumer level Tuesday, which raised expectations for interest-rate hikes and triggered a rout for markets.

Still, the overall decline in inflation at the wholesale level helped assuage fears in the market that inflation at all levels is intensifying, said Quincy Krosby, chief equity strategist for LPL Financial.

“The market would have probably had another round of selling had the headline number been higher,” Krosby said. “The fact that it dipped a bit was helpful for today’s market.”

Traders now see a one-in-four chance the Fed may hike its benchmark rate by a full percentage point next week, quadruple the usual move, according to CME Group. A day earlier, it was closer to a one-in-three chance. The site puts the probability of a three-quarter percentage point increase now at 76%, up from 69% on Tuesday.

The central bank has already raised its benchmark interest rate four times this year, with the last two increases by three-quarters of a percentage point.

The Fed is taking the aggressive action on interest rates to try and cool the hottest inflation in four decades. Tuesday’s report on high prices jolted the market with signs that inflation is entering a more stubborn phase that could require an already resolute Fed to become more aggressive.

Wall Street is especially worried that the rate hikes could go too far in slowing the economy and send it into a recession. The Fed is trying to avoid that outcome, but the latest inflation reports reveal that is becoming a more difficult task.

All told, the S&P 500 rose 13.32 points to 3,946.01, while the Dow added 30.12 points to 31,135.09. The Nasdaq gained 86.10 points to 11,719.68, and the Russell 2000 picked up 6.89 points to close at 1,838.46.

Energy stocks had some of the biggest gains as U.S. crude oil prices rose 1.3%. Exxon Mobil rose 2.5%.

“Today you have some investors coming off the sidelines, coming back into the market because there’s this feeling that the sell-off was a big one, there was a recalibration there, there was a little bit of panic selling there,” said Sylvia Jablonski, chief investment officer at Defiance ETFs.

The broader U.S. economy has been slowing, but consumers have remained resilient and the job market remains strong. Wall Street will get another update on inflation’s latest impact on spending when the government releases its retail sales report for August on Thursday.

The market is also monitoring U.S.-China tensions and war in Ukraine, while business and government officials are bracing for the possibility of a nationwide rail strike at the end of this week that could paralyze an already discombobulated supply chain.

The railroads have already started to curtail shipments of hazardous materials and have announced plans to stop hauling refrigerated products ahead of Friday’s strike deadline. Businesses that rely on Norfolk Southern, Union Pacific, BNSF, CSX, Kansas City Southern and other railroads to deliver their raw materials and finished products are planning for the worst.

Union Pacific fell 3.7% and Norfolk Southern fell 2.2%.

Biden administration officials are scrambling to develop a plan to keep goods moving if the railroads shut down. The White House is also pressuring the two sides to settle their differences, and a growing number of business groups are lobbying Congress to be prepared to intervene and block a strike if they can’t reach an agreement





The S&P 500 rose 0.3% after wavering between small gains and losses much of the afternoon. The benchmark index was coming off its biggest drop since June 2020, which ended a four-day winning streak.

The Dow Jones Industrial Average closed 0.1% higher, while the Nasdaq composite rose 0.7%. Smaller company stocks also rose, pushing the Russell 2000 to a 0.4% gain.


----------



## bigdog

*


			https://www.usnews.com/news/business/articles/2022-09-15/asian-shares-mixed-after-wobbly-gains-on-wall-st
		

*
Stocks Fall, Indexes Slip Deeper Into the Red for the Week​Stocks closed lower on Wall Street, putting major indexes deeper in the red for the week.

By Associated Press

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers
Stocks closed lower on Wall Street, putting major indexes deeper in the red for the week. The S&P 500 fell 1.1% on Thursday. The benchmark index is down for the week following the biggest pullback for the market in more than two years on Tuesday. Railroad operators were mostly higher after a tentative labor agreement was reached, averting a strike across the country that could have been devastating to the economy. Software maker Adobe fell sharply after announcing a $20 billion acquisition of a design company and issuing a disappointing revenue forecast for the current quarter.

Stocks are lower in afternoon trading on Wall Street Thursday, putting major indexes deeper in the red for the week.

The S&P 500 fell 1.4% as of 3:35 p.m. Eastern. The benchmark index is down 4.3% for the week following the biggest pullback for the market in more than two years on Tuesday.

The Dow Jones Industrial Average shed an early gain and was down 220 points, or 0.7%, to 30,909 and the Nasdaq fell 1.7%.

Technology stocks were among the biggest weights on the broader market. Adobe slumped 17.2%, the largest drop among S&P 500 stocks, after the software maker announced a $20 billion acquisition of a design company and issued a disappointing revenue forecast.
U.S. crude oil prices fell 3.8% and weighed on energy stocks. Hess fell 2.9%.

Railroad operators were mostly higher after a tentative labor agreement was reached, averting a strike across the country that could have been devastating to the economy. Union Pacific rose 0.1%.

Bond yields rose. The yield on the 10-year Treasury, which helps dictate where mortgages and rates for other loans are heading, rose to 3.46% from 3.40% late Wednesday. The yield on the two-year Treasury rose to 3.86% from 3.79%.

Investors were digesting the latest report on retail sales, which gave a mixed view of how consumers are coping with the hottest inflation in four decades. The government report showed that retail sales rose an unexpected 0.3% in August after falling 0.4% in July. Inflation hurt several areas of spending, though, with business at restaurants still growing, but at a slower pace, while furniture and online sales fell.

Consumer spending has been a strong point in the broader economy, along with employment, as inflation continues to squeeze businesses and consumers. High prices and the Federal Reserve's aggressive plan to raise interest rates as a solution remains Wall Street's main focus.

A hotter-than-expected August report on consumer prices Tuesday spooked the market and dashed hopes that the Fed might consider easing its rate hikes. It was followed on Wednesday by a report that wholesale prices are still rising.

Investors worry rate hikes by the Fed could go too far in slowing the U.S. economy and send it into a recession. The central bank has already raised its benchmark interest rate four times this year, with the last two increases by three-quarters of a percentage point. Traders now see a 1-in-5 chance the Fed may hike its benchmark rate by a full percentage point next week, quadruple the usual move, according to the CME Group.






Stocks are lower in afternoon trading on Wall Street Thursday, putting major indexes deeper in the red for the week.

The S&P 500 fell 1.4% as of 3:35 p.m. Eastern. The benchmark index is down 4.3% for the week following the biggest pullback for the market in more than two years on Tuesday.

The Dow Jones Industrial Average shed an early gain and was down 220 points, or 0.7%, to 30,909 and the Nasdaq fell 1.7%.


----------



## JohnDe

bigdog said:


> *
> 
> 
> https://www.usnews.com/news/business/articles/2022-09-15/asian-shares-mixed-after-wobbly-gains-on-wall-st
> 
> 
> *
> Stocks Fall, Indexes Slip Deeper Into the Red for the Week​Stocks closed lower on Wall Street, putting major indexes deeper in the red for the week.
> 
> By Associated Press
> 
> By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers
> Stocks closed lower on Wall Street, putting major indexes deeper in the red for the week. The S&P 500 fell 1.1% on Thursday. The benchmark index is down for the week following the biggest pullback for the market in more than two years on Tuesday. Railroad operators were mostly higher after a tentative labor agreement was reached, averting a strike across the country that could have been devastating to the economy. Software maker Adobe fell sharply after announcing a $20 billion acquisition of a design company and issuing a disappointing revenue forecast for the current quarter.
> 
> Stocks are lower in afternoon trading on Wall Street Thursday, putting major indexes deeper in the red for the week.
> 
> The S&P 500 fell 1.4% as of 3:35 p.m. Eastern. The benchmark index is down 4.3% for the week following the biggest pullback for the market in more than two years on Tuesday.
> 
> The Dow Jones Industrial Average shed an early gain and was down 220 points, or 0.7%, to 30,909 and the Nasdaq fell 1.7%.
> 
> Technology stocks were among the biggest weights on the broader market. Adobe slumped 17.2%, the largest drop among S&P 500 stocks, after the software maker announced a $20 billion acquisition of a design company and issued a disappointing revenue forecast.
> U.S. crude oil prices fell 3.8% and weighed on energy stocks. Hess fell 2.9%.
> 
> Railroad operators were mostly higher after a tentative labor agreement was reached, averting a strike across the country that could have been devastating to the economy. Union Pacific rose 0.1%.
> 
> Bond yields rose. The yield on the 10-year Treasury, which helps dictate where mortgages and rates for other loans are heading, rose to 3.46% from 3.40% late Wednesday. The yield on the two-year Treasury rose to 3.86% from 3.79%.
> 
> Investors were digesting the latest report on retail sales, which gave a mixed view of how consumers are coping with the hottest inflation in four decades. The government report showed that retail sales rose an unexpected 0.3% in August after falling 0.4% in July. Inflation hurt several areas of spending, though, with business at restaurants still growing, but at a slower pace, while furniture and online sales fell.
> 
> Consumer spending has been a strong point in the broader economy, along with employment, as inflation continues to squeeze businesses and consumers. High prices and the Federal Reserve's aggressive plan to raise interest rates as a solution remains Wall Street's main focus.
> 
> A hotter-than-expected August report on consumer prices Tuesday spooked the market and dashed hopes that the Fed might consider easing its rate hikes. It was followed on Wednesday by a report that wholesale prices are still rising.
> 
> Investors worry rate hikes by the Fed could go too far in slowing the U.S. economy and send it into a recession. The central bank has already raised its benchmark interest rate four times this year, with the last two increases by three-quarters of a percentage point. Traders now see a 1-in-5 chance the Fed may hike its benchmark rate by a full percentage point next week, quadruple the usual move, according to the CME Group.
> 
> 
> 
> Stocks are lower in afternoon trading on Wall Street Thursday, putting major indexes deeper in the red for the week.





Not all tech stocks hurting, ARKK & TSLA holding up. 

Looks like Reserve banks are not going to let up until they slay the dragon, regardless of the collateral damage.


----------



## bigdog

Wall Street falls as FedEx warning adds to market woes
					

Wall Street closed out the stock market's worst week in three months with more losses Friday, as a stark warning from FedEx about rapidly worsening trends in the economy rattled already anxious investors.




					apnews.com
				




Wall Street falls as FedEx warning adds to market woes​By DAMIAN J. TROISE and ALEX VEIGA

Wall Street closed out the stock market’s worst week in three months with more losses Friday, as a stark warning from FedEx about rapidly worsening trends in the economy rattled already anxious investors.

The S&P 500 fell 0.7%, with all but two of its 11 company sectors ending in the red. The benchmark index sank 4.8% for the week, with much of the loss coming from a 4.3% rout on Tuesday following a surprisingly hot report on inflation. The last time it posted a bigger weekly decline was the week ended June 17.

The Dow Jones Industrial Average fell 0.5% and the Nasdaq composite dropped 0.9%. The Russell 2000 index of smaller companies took the heaviest losses, falling 1.5%.

All the major indexes have now posted losses four out of the past five weeks.

FedEx sank 21.4% for its biggest single-day sell-off on record after warning investors that profits for its fiscal first-quarter will likely fall short of forecasts because of a dropoff in business. The package delivery service is also shuttering storefronts and corporate offices and expects business conditions to further weaken.

Industrial giant General Electric also helped put traders in a selling mood after its chief financial officer said the company is still bogged down by supply chain problems that were raising costs. GE shares fell 3.7%.

The worrisome corporate updates hit a market already on edge because of stubbornly high inflation as well as the higher interest rates being used to fight it, which will slow the economy. Wall Street is bracing for another hefty interest rate hike from the Federal Reserve next week following a meeting of central bank policymakers.

“Based on this week’s market results there’s no question that investors are going into the weekend, No. 1 very concerned about the U.S. economy looking into the balance of this year and No. 2, with all eyes focused on next week’s Fed action,” said Greg Bassuk, CEO at AXS Investments.

The S&P 500 fell 28.02 points to 3,873.33. It’s now down 18.7% so far this year.

The Dow dropped 139.40 points to 30,822.42 and the Nasdaq slid 103.95 points to 11,448.40. The Russell 2000 gave up 27.04 points to 1,798.19.

Technology stocks, banks and energy firms had some of the biggest losses. Adobe fell 3.1%, Bank of America dropped 1.1% and Chevron slid 2.6%

Makers of household goods, which are typically considered less risky investments, held up better than the rest of the market. Campbell Soup rose 1.3%.

The Federal Reserve is aggressively raising interest rates in an effort to cool the hottest inflation in four decades, but that has raised worries that it could hit the brakes too hard and slide the economy into a recession. The central bank has already raised interest rates four times this year and economists expect another jumbo increase of three-quarters of a point when the Fed’s leaders meet next week.

Higher interest rates tend to weigh on stocks, especially the pricier technology sector. Technology stocks within the S&P 500 are down more than 26% for the year and communications companies have shed more than 34%. They are the worst performing sectors within the benchmark index so far this year

The housing sector is also hurting as interest rates rise. Average long-term U.S. mortgage rates climbed above 6% this week for the first time since the housing crash of 2008. The higher rates could make an already tight housing market even more expensive for homebuyers.

Reports this week from the government showed that prices for just about everything but gas are still rising, the job market is still red-hot and consumers continue to spend, all of which give ammunition to Fed officials who say the economy can tolerate more rate hikes.

“The market is really looking at data in terms of what the Fed is going to do next year and how far they’ll have to go,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute. “I think they’ll be in a good spot after September, where they’ll have plenty of flexibility to get where they want to be by the end of the year.”

Treasury yields eased a bit Friday after a report showed expectations for inflation among U.S. households are falling to their lowest levels since last year. That’s a positive for markets because the Fed fears a rise in such expectations would make inflation much tougher to fight. But the survey also showed uncertainty remains very high among households about where inflation is heading.

The yield on the 2-year Treasury, which tends to follow expectations for Fed action, fell to 3.85% from 3.92% shortly before the report’s release. The 10-year yield fell to 3.45% from 3.49%


----------



## bigdog

The S&P 500 fell 0.7%, with all but two of its 11 company sectors ending in the red. The benchmark index sank 4.8% for the week, with much of the loss coming from a 4.3% rout on Tuesday following a surprisingly hot report on inflation. The last time it posted a bigger weekly decline was the week ended June 17.

The Dow Jones Industrial Average fell 0.5% and the Nasdaq composite dropped 0.9%. The Russell 2000 index of smaller companies took the heaviest losses, falling 1.5%.

All the major indexes have now posted losses four out of the past five weeks.


----------



## bigdog

US stocks rise ahead of expected interest rate hike by Fed
					

A choppy day of trading on Wall Street ended with stocks closing higher Monday as investors brace for another big interest rate increase  this week from the Federal Reserve.




					apnews.com
				




US stocks rise ahead of expected interest rate hike by Fed​By DAMIAN J. TROISE and ALEX VEIGA

A choppy day of trading on Wall Street ended with stocks closing higher Monday as investors brace for another big interest rate increase this week from the Federal Reserve.

The indexes swayed between modest gains and losses for much of the day before a burst of buying in the final hour of trading. The S&P 500 rose 0.7%, climbing back from a 0.9% slide. The Dow Jones Industrial Average rose 0.6% and the Nasdaq composite climbed 0.8%.

Technology stocks, retailers, banks and industrial companies helped lift the market. Apple rose 2.5%, Home Depot gained 1.6%, Bank of America rose 1.7% and United Airlines closed 3.3% higher.

Health care and real estate stocks fell, tempering gains elsewhere in the market. Pfizer fell 1.3% and Welltower slid 2.2%.

The yield on the 2-year Treasury, which tends to follow expectations for Fed action, rose to 3.94% from 3.87% late Friday. The 10-year yield, which influences mortgage rates, rose to 3.49% from 3.45%.

Smaller company stocks also gained ground. The Russell 2000 closed 0.8% higher.

Trading volume was lower than usual, a sign most traders were not eager to make big changes ahead of the Federal Reserve’s interest rate policy announcement Wednesday afternoon, said Scott Ladner, chief investment officer at Horizon Investments.

“No one really wants to position ahead of it,” he said. “It’s been such a slippery market on both the upside and the downside.”

The S&P 500 rose 26.56 points to 3,899.89, while the Dow added 197.26 points to 31,019.68. The Nasdaq rose 86.62 points to 11,535.02 and the Russell 2000 added 14.65 points to 1,812.84.

Wall Street remains focused on inflation and the Federal Reserve’s attempt to lower prices by aggressively raising interest rates. On Wednesday, the central bank will announce its latest decision on rates. It is expected to raise its benchmark rate, which influences interest rates throughout the economy, another three-quarters of a percentage point.

The broader market is coming off of its worst week in three months following a surprisingly hot report on inflation and big companies, including FedEx, warning about worsening trends in the economy.

Wall Street has been worried that the Fed’s plan to cool the hottest inflation in four decades could be too aggressive and throw the economy into a recession by pumping the brakes on growth too hard. The higher rates also tend to weigh on stocks, especially the pricier technology sector

Investors will get another update on the housing sector on Wednesday when the National Association of Realtors releases August figures for sales of previously occupied homes.

Average long-term U.S. mortgage rates climbed above 6% last week for the first time since the housing crash of 2008. The higher rates could make an already tight housing market even more expensive for American homebuyers.

Britain was observing a day of mourning for Queen Elizabeth II. Germany’s DAX rose 0.5% while the CAC 40 in Paris fell 0.3%. Hong Kong’s Hang Seng lost 1% while the Shanghai Composite index shed 0.3%. Japan’s markets were closed for a holiday.





A choppy day of trading on Wall Street ended with stocks closing higher Monday as investors brace for another big interest rate increase this week from the Federal Reserve.

The indexes swayed between modest gains and losses for much of the day before a burst of buying in the final hour of trading. The S&P 500 rose 0.7%, climbing back from a 0.9% slide. The Dow Jones Industrial Average rose 0.6% and the Nasdaq composite climbed 0.8%.

The S&P 500 rose 26.56 points to 3,899.89, while the Dow added 197.26 points to 31,019.68. The Nasdaq rose 86.62 points to 11,535.02 and the Russell 2000 added 14.65 points to 1,812.84.


----------



## bigdog

Asian shares decline ahead of Fed decision on interest rates
					

TOKYO (AP) — Asian shares mostly declined Wednesday as investors looked ahead to a widely expected interest rate hike by the U.S. Federal Reserve as it works to squash the highest inflation in decades.




					apnews.com
				




Stocks close lower ahead of Fed decision on interest rates​By DAMIAN J. TROISE and ALEX VEIGA

Stocks finished broadly lower Tuesday as Wall Street, increasingly anxious about the slowing economy, looks ahead to a widely expected interest rate hike by the Federal Reserve in its bid to squash the highest inflation in decades.

The S&P 500 index fell 1.1%, as more than 90% of stocks and every sector in the benchmark index lost ground. The Dow Jones Industrial Average and Nasdaq composite also fell 1%.

The selling came as traders waited to see how high the Fed will raise interest rates at its meeting that ends Wednesday. The central bank is widely expected to announce a hefty three-quarters of a point interest rate increase, its third such hike in a row. Investors also will be listening intently to Fed Chair Jerome Powell for any clues on how aggressively the Fed will move from here to tame inflation.

“The market is certainly bracing for the worst and you’re seeing a little bit of selling pressure coming in,” said Paul Kim, CEO of Simplify ETFs

The S&P 500 fell 43.96 points to 3,855.93, while the Dow dropped 313.45 points to 30,706.23. The Nasdaq lost 109.97 points to close at 11,425.05.

Retailers, technology stocks, health care companies and banks were among the biggest weights on the market. Best Buy fell 4.1%, Microsoft slid 0.8%, Abbott Laboratories dropped 1.7% and JPMorgan Chase closed 2% lower

U.S. crude oil prices fell 1.5% and weighed down energy stocks. Exxon Mobil fell 0.8%.

Smaller company stocks fell more than the broader market. The Russell 2000 index gave up 25.34 points, or 1.4%, to 1,787.50.

Bond yields mostly edged higher. The yield on the 10-year Treasury, which influences mortgage rates, rose to 3.56% from 3.52% from late Monday and is trading at its highest levels since 2011.

The yield on the 2-year Treasury, which tends to follow expectations for Fed action, held steady at 3.95%, hovering around its highest levels since 2007.

Stocks have been slumping and Treasury yields rising as the Fed raises the cost of borrowing money in hopes of slowing down the hottest inflation in four decades. The central bank’s aggressive rate hikes have been making markets jittery, especially as Fed officials assert their determination to keep raising rates until they are sure inflation is coming under control.

Powell bluntly warned in a speech last month that the rate hikes would “bring some pain.”

“He has done everything he possibly can to signal that it’s going to be another aggressive move,” said Liz Young, head of investment strategy at SoFi. “He’s been clear as a bell about what they’ve been focused on.”

The Fed is expected to raise its key short-term rate by a substantial three-quarters of a point for the third time at its meeting on Wednesday. That would lift its benchmark rate, which affects many consumer and business loans, to a range of 3% to 3.25%, the highest level in 14 years, and up from zero at the start of the year.

If the Fed matches expectations for a three-quarters of a point increase, that may give stocks a small boost, reflecting relief among traders that the central bank didn’t opt for a 1% increase, said Kim.

Beyond that, investors will be focused on what Powell has to say, both in the Fed’s latest interest rate policy statement and during an afternoon press conference, for clues as to whether the central bank remains primarily focused on lowering inflation, or if there’s a hint the Fed is giving more consideration to the impact of higher rates on the economy.

“As long as the Fed sticks to this game of chicken and sticks to inflation as its only mandate, the market will keep dropping,” Kim said.

Wall Street is worried that the rate hikes could go too far in slowing economic growth and push the economy into a recession. Those concerns have been heightened by data showing that the U.S. economy is already slowing and by companies warning about the impact of inflation and supply chain problems to their operations.

Ford fell 12.3% for the biggest decline in the S&P 500 after slashing its third-quarter earnings forecast because a parts shortage will leave it with as many as 45,000 vehicles unfinished on its lots when the quarter ends Sept. 30. Last week, FedEx and General Electric warned investors about damage to their operations from inflation.

The U.S. isn’t alone in suffering from hot inflation or dealing with the impact of efforts to fight high prices.

Sweden’s central bank on Tuesday raised its key interest rate by a full percentage point to 1.75%, catching almost everyone off guard as it scrambles to bring down inflation that was measured at 9% in August.

Consumer inflation in Japan jumped in August to 3%, its highest level since November 1991 but well below the 8% plus readings in the U.S. and Europe. The Bank of Japan is set to have a two-day monetary policy meeting later this week, although analysts expect the central bank to stick to its easy monetary policy.

Rate decisions from Norway, Switzerland and the Bank of England are next.

Markets in Europe mostly fell, while markets in Asia gained ground.






Stocks finished broadly lower Tuesday as Wall Street, increasingly anxious about the slowing economy, looks ahead to a widely expected interest rate hike by the Federal Reserve in its bid to squash the highest inflation in decades.

The S&P 500 index fell 1.1%, as more than 90% of stocks and every sector in the benchmark index lost ground. The Dow Jones Industrial Average and Nasdaq composite also fell 1%.


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## bigdog

*Australia Stock Exchange holiday is National Mourning Day and will be observed on Thursday, September 22, 2022*









						Stocks slump on Wall Street as Fed steps up inflation fight
					

Stocks closed lower Wednesday after the Federal Reserve made another big interest rate hike and sharply increased its outlook for how high it expects to raise rates in coming months.  Short-term Treasury yields pushed further into multiyear highs after the central bank raised its benchmark rate...




					apnews.com
				




Stocks slump on Wall Street as Fed steps up inflation fight​By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed lower Wednesday after the Federal Reserve made another big interest rate hike and sharply increased its outlook for how high it expects to raise rates in coming months.

Short-term Treasury yields pushed further into multiyear highs after the central bank raised its benchmark rate by three-quarters of a point. The Fed also said it now expects that rate to be a full percentage point higher by the end of the year than it had predicted in June.

“We have got to get inflation behind us,” Fed Chair Jerome Powell said during a press conference. “I wish there were a painless way to do that. There isn’t.”

The S&P 500 fell 1.7% to its lowest level since mid-July after wavering between gains and losses as traders considered the impact of the Fed’s update on interest rates, which have widespread effects on markets and the economy.

The Dow Jones Industrial Average also fell 1.7% after flipping between gains and losses. The Nasdaq composite lost 1.8%. The major indexes are on pace for their fifth weekly loss in six weeks.

The yield on the 2-year Treasury, which tends to follow expectations for Fed action, rose to 4.02% from 3.97% late Tuesday. It is trading at its highest level since 2007. The yield on the 10-year Treasury, which influences mortgage rates, fell to 3.52% from 3.56% from late Tuesday

The Fed is raising rates to fight the worst inflation in 40 years. The worry is that the Fed may cause a recession by slowing the economy too much.

“Ultimately, the policy appears to be appropriate given the economic backdrop, but investors should prepare for rough seas ahead as aggressive Fed policy usually leaves a path of destruction in the wake behind,” said Charlie Ripley, senior investment strategist at Allianz Investment Management.

The S&P 500 fell 66 points to 3,789.93. The Dow slid 522.45 points to 30,183.78, and the Nasdaq lost 204.86 points to close at 11,220.19.

Smaller company stocks also slumped. The Russell 2000 index fell 25.35 points, or 1.4%, to 1,762.16.

The broader market has been lurching between gains and losses throughout the week ahead of the latest update on interest rates from the Fed.

More than 90% of the stocks in the S&P 500 fell, with retailers, banks and technology companies among the heaviest weights on the benchmark index. Amazon dropped 3%, Bank of America shed 3% and Apple fell 2%

The Fed has been raising rates aggressively to try and tame high prices on everything from food to clothing.

During his press conference, Powell stressed his resolve to lift rates high enough to slow the economy and drive inflation back toward the central bank’s 2% goal. Powell said the Fed has just started to get to that level with this most recent increase.

The central bank’s latest rate hike lifted its benchmark rate, which affects many consumer and business loans, to a range of 3% to 3.25%, the highest level in 14 years, and up from zero at the start of the year.

“The Fed is pivoting, but not in the direction that many hoped for,” said Willie Delwiche, investment strategist at All Star Charts. “Not only are they indicating that rates will be higher for longer but they expect to persist even as the economy slows more dramatically remains weaker longer than they were expecting as recently as June.”

The Fed’s goal is to slow economic growth and cool inflation, but Wall Street is worried that it could hit the brakes too hard on an already slowing economy and cause a recession. Those concerns have been reinforced by reports showing that inflation remains stubbornly high and statements from Fed officials they will keep raising rates until they are sure inflation is coming under control.

Central banks worldwide are also dealing with inflation. The Bank of Japan began a two-day monetary policy meeting Wednesday, although analysts expect the central bank to stick to its easy monetary policy. Rate decisions from Norway, Switzerland and the Bank of England are next. Sweden surprised economists this week with a full-point hike.

Global tensions remain high as Russia’s invasion of Ukraine continues. Russian-controlled regions of eastern and southern Ukraine have announced plans to start voting this week to become part of Russia. The war has killed thousands of people, driven up food prices worldwide and caused energy costs to soar

Gasoline prices, which helped fuel inflation for months, have been generally falling. But, the average price for a gallon of gas went up for the first time in more than three months, rising to to $3.681 from $3.674, according to motor club AAA.

Cruise line operators slipped as Hurricane Fiona continued to batter the Caribbean. Carnival slid 6.8%.

*Australia Stock Exchange holiday is National Mourning Day and will be observed on Thursday, September 22, 2022*


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## bigdog

Asian stocks slide for 3rd day on economic growth fears
					

BEIJING (AP) — Asian stocks fell for a third day Friday after more rate hikes by the Federal Reserve and other central banks to control persistent inflation spurred fears of a possible global recession.




					apnews.com
				




Wall Street ends lower as global central banks raise rates​By DAMIAN J. TROISE and ALEX VEIGA

Stocks fell again Thursday, deepening Wall Street’s losses for the week, as central banks around the world hiked interest rates to fight inflation.

The S&P 500 fell 0.8%, its third straight drop. The benchmark index is down about 3% so far this week.

The Dow Jones Industrial Average fell 0.4% and the Nasdaq composite lost 1.4%. The Russell 2000 index of smaller company stocks fell 2.3%, a sign investors are worried about the economy. The major indexes are on pace for their fifth weekly loss in six weeks.

Bond yields mostly rose. The yield on the 2-year Treasury, which tends to follow expectations for Federal Reserve action, rose significantly to 4.11% from 4.02% late Wednesday. It is trading at its highest level since 2007. The yield on the 10-year Treasury, which influences mortgage rates, jumped to 3.70% from 3.51% from late Wednesday.

The latest wave of selling reflects concerns among investors that the Fed might have to get more aggressive than it has been signaling to ultimately get inflation under control, said Barry Bannister, chief equity strategist at Stifel. That scenario is unlikely if prices stabilize and fall, but it could take more than a year for that process to play out, he said

“The question is, what’s the patience level for both the Fed and the market,” he said.

Central banks in Europe and Asia raised interest rates a day after the Federal Reserve made another big rate hike and indicated that more were on the way.

Britain’s central bank raised its key interest rate by another half-percentage point. Switzerland’s central bank raised its benchmark lending rate by its biggest margin to date, 0.75 percentage points, and said it couldn’t rule out more hikes. Central banks in Norway and the Philippines also raised interest rates.

The Fed and other central banks are raising interest rates in to make borrowing more expensive. The goal is to slow economic growth enough to tame inflation, but not so much that economies slip into a recession. Wall Street is worried that the Fed may be pumping the brakes too hard on an already slowing economy, which makes steering into a recession more likely.

On Wednesday, Fed chair Jerome Powell stressed his resolve to lift rates high enough to drive inflation back toward the central bank’s 2% goal. Powell said the Fed has just started to get to that level with this most recent increase. The U.S. central bank lifted its benchmark rate, which affects many consumer and business loans, to a range of 3% to 3.25%. That is the fifth rate hike this year and up from zero at the start of the year

The Fed also released a forecast known as a “dot plot” that showed it expects its benchmark rate to be 4.4% by year’s end, a full point higher than envisioned in June.

“There’s not a lot of easy answers when you have the most powerful entity in the world, the Federal Reserve, committed to this path of hiking rates,” said Michael Antonelli, market strategist at Baird. “It just has people scrambling.”

The S&P 500 fell 31.94 points to 3,757.99 Thursday. The index is now at its lowest level since mid-June and down more than 21% so far this year

The Dow lost 107.10 points to close at 30,076.68, while the Nasdaq finished down 153.39 points at 11,066.81. The Russell slid 39.85 points to 1,722.31.

The losses were broad and concentrated among retailers and technology, financial and industrial stocks. Starbucks fell 4.4%, Nvidia dropped 5.3%, American Express slid 3.8% and UPS fell 3.4%.

Health care stocks were among the few bright spots. Johnson & Johnson rose 1.8%.

Companies are closing in on the end of the third quarter and preparing for the next big round of earnings reports, though some early reports have trickled out. Homebuilder Lennar rose 2% after reporting strong financial results for its fiscal third-quarter. Fellow homebuilder KB Home fell 5.1% after a warning about supply chain problems and a mixed financial report.





The Dow lost 107.10 points to close at 30,076.68, while the Nasdaq finished down 153.39 points at 11,066.81. The Russell slid 39.85 points to 1,722.31.

The S&P 500 fell 0.8%, its third straight drop. The benchmark index is down about 3% so far this week.

The Dow Jones Industrial Average fell 0.4% and the Nasdaq composite lost 1.4%.


----------



## bigdog

Dow sinks to 2022 low as recession fears roil world markets
					

Stocks fell sharply worldwide Friday on worries an already slowing global economy could fall into recession as central banks raise the pressure with additional interest rate hikes. The Dow Jones Industrial Average fell 1.6%, closing at its lowest level since late 2020.




					apnews.com
				




Dow sinks to 2022 low as recession fears roil world markets​By DAMIAN J. TROISE and ALEX VEIGA

Stocks fell sharply worldwide Friday on worries an already slowing global economy could fall into recession as central banks raise the pressure with additional interest rate hikes.

The Dow Jones Industrial Average fell 1.6%, closing at its lowest level since late 2020. The S&P 500 fell 1.7%, close to its 2022 low set in mid-June, while the Nasdaq slid 1.8%.

The selling capped another rough week on Wall Street, leaving the major indexes with their fifth weekly loss in six weeks.

Energy prices closed sharply lower as traders worried about a possible recession. Treasury yields, which affect rates on mortgages and other kinds of loans, held at multiyear highs.

European stocks fell just as sharply or more after preliminary data there suggested business activity had its worst monthly contraction since the start of 2021. Adding to the pressure was a new plan announced in London to cut taxes, which sent U.K. yields soaring because it could ultimately force its central bank to raise rates even more sharply.

The Federal Reserve and other central banks around the world aggressively hiked interest rates this week in hopes of undercutting high inflation, with more big increases promised for the future. Such moves put the brakes on economies by design, in hopes that slower purchases by households and businesses will deflate inflationary pressures. But they also threaten a recession, if they rise too far or too quickly.

Besides Friday’s discouraging data on European business activity, a separate report suggested U.S. activity is also still shrinking, though not quite as badly as in earlier months.

“Financial markets are now fully absorbing the Fed’s harsh message that there will be no retreat from the inflation fight,” Douglas Porter, chief economist at BMO Capital Markets, wrote in a research report.

U.S. crude oil prices slid 5.7% to their lowest levels since early this year on worries that a weaker global economy will burn less fuel. Cryptocurrency prices also fell sharply because higher interest rates tend to hit hardest the investments that look the priciest or the most risky.

Even gold fell in the worldwide rout, as bonds paying higher yields make investments that pay no interest look less attractive. Meanwhile the U.S. dollar has been moving sharply higher against other currencies. That can hurt profits for U.S. companies with lots of overseas business, as well as put a financial squeeze on much of the developing world.

The S&P 500 fell 64.76 points to 3,693.23, its fourth straight drop. The Dow, which at one point was down more than 800 points, lost 486.27 points to close at 29,590.41. The Nasdaq fell 198.88 points to 10,867.93.

Smaller company stocks did even worse. The Russell 2000 fell 42.72 points, or 2.5%, to close at 1,679.59.

More than 85% of stocks in the S&P 500 closed in the red, with technology companies, retailers and banks among the biggest weights on the benchmark index.

The Federal Reserve on Wednesday lifted its benchmark rate, which affects many consumer and business loans, to a range of 3% to 3.25%. It was at virtually zero at the start of the year. The Fed also released a forecast suggesting its benchmark rate could be 4.4% by the year’s end, a full point higher than envisioned in June

Treasury yields have climbed to multiyear highs as interest rates rise. The yield on the 2-year Treasury, which tends to follow expectations for Federal Reserve action, rose to 4.20% from 4.12% late Thursday. It is trading at its highest level since 2007. The yield on the 10-year Treasury, which influences mortgage rates, slipped to 3.69% from 3.71%.

Goldman Sachs strategists say a majority of their clients now see a “hard landing” that pulls the economy sharply lower as inevitable. The question for them is just on the timing, magnitude and length of a potential recession.

Higher interest rates hurt all kinds of investments, but stocks could stay steady as long as corporate profits grow strongly. The problem is that many analysts are beginning to cut their forecasts for upcoming earnings because of higher rates and worries about a possible recession

“Increasingly, market psychology has transitioned from concerns over inflation to worries that, at a minimum, corporate profits will decline as economic growth slows demand,” said Quincy Krosby, chief global strategist for LPL Financial.

In the U.S., the jobs market has remained remarkably solid, and many analysts think the economy grew in the summer quarter after shrinking in the first six months of the year. But the encouraging signs also suggest the Fed may have to jack rates even higher to get the cooling needed to bring down inflation.

Some key areas of the economy are already weakening. Mortgage rates have reached 14-year highs, causing sales of existing homes to drop 20% in the past year. But other areas that do best when rates are low are also hurting.

In Europe, meanwhile, the already fragile economy is dealing with the effects of war on its eastern front following Russia’s invasion of Ukraine. The European Central Bank is hiking its key interest rate to combat inflation even as the region’s economy is already expected to plunge into a recession. And in Asia, China’s economy is contending with still-strict measures meant to limit COVID infections that also hurt businesses

While Friday’s economic reports were discouraging, few on Wall Street saw them as enough to convince the Fed and other central banks to soften their stance on raising rates. So they just reinforced the fear that rates will keep rising in the face of already slowing economies.


----------



## bigdog

On Friday, the S&P 500 fell 64.76 points to 3,693.23, its fourth straight drop. The Dow, which at one point was down more than 800 points, lost 486.27 points to close at 29,590.41. The Nasdaq fell 198.88 points to 10,867.93.


----------



## Skate

*S&P hits new closing low, stocks tumble again*
U.S. stocks had yet another losing session Monday, as the S&P 500 hit a new 2022 closing low & the Dow Jones Industrial Average's decline put the index officially into a bear market. Meanwhile, the CBOE Volatility Index (VIX), which measures Wall Street’s expectations for short-term market volatility, rose above 31, its highest level since the 17th of June.

*Equities were poised for more turbulence this week*
Some Wall Street strategists are expecting that a recession is the Federal Reserve’s base case scenario as it proceeds with an aggressive rate hiking campaign in an effort to restore price stability. as fears of excessive Fed tightening rattle investors.

*US stocks slip deeper into a slump as recession fears grow*
Stocks fell on Wall Street & put major indexes deeper into a slump as recession fears grow. The S&P 500 fell 1.03% Monday. The Dow Jones Industrial Average fell 1.11% & the Nasdaq also fell 0.60%. The losses were broad & included banks, health care companies & retailers. Bank of America fell 2.2%, Medtronic dropped 1.6% & Marathon Oil slid 3%.

*Smaller company stocks also lost ground*
The Russell 2000 was down 0.8%. The muted opening to the week comes amid an extended slump for major indexes. The benchmark S&P 500 is down more than 7% in September. Stocks have been weighed down by concerns about stubbornly hot inflation & the risk that central banks could push economies into a recession as they try to cool high prices on everything from food to clothing. Investors have been particularly focusing on the Federal Reserve & its aggressive interest rate hikes. “We’re starting to have a handoff from fears about inflation & the Fed to global economic worries,” said Mark Hackett, chief of investment research at Nationwide. “We’ve reached a universal degree of pessimism.”

*The Fed has raised its benchmark rate*
Doing this affects many consumer & business loans, again last week & it now sits at a range of 3% to 3.25%. It was at virtually zero at the start of the year. The Fed also released a forecast suggesting its benchmark rate could be 4.4% by the year’s end, a full point higher than envisioned in June. The goal is to make borrowing more expensive & effectively crimp spending, which would cool inflation. But, the U.S. economy is already slowing & Wall Street is worried that the Fed’s rate hikes will pump the brakes too hard on the economy & cause a recession.

*Higher interest rates hurt all kinds of investments*
Especially pricey technology stocks, & the market has been in a broad slump as rates rise. Treasury yields have climbed to multiyear highs as interest rates rise. The yield on the 2-year Treasury, which tends to follow expectations for Federal Reserve action, rose significantly to 4.31% from 4.21% late Friday. It is trading at its highest level since 2007. The yield on the 10-year Treasury, which influences mortgage rates, jumped to 3.88% from 3.69%.

*The recent rise in the U.S. dollar against other currencies is a concern for many countries *
It dents profits for U.S. companies with overseas business, & puts a financial squeeze on much of the developing world. Companies are nearing the close of the third quarter & investors are preparing for the next round of earnings reports. That will give them a better sense of how companies are dealing with persistent inflation. Investors also have several economic reports on tap for this week that will give more details on consumer spending, the jobs market, & the broader health of the U.S. economy.

*The latest consumer confidence report, for September *
The business group, The Conference Board will be released on Tuesday. The government will release its weekly report on unemployment benefits on Thursday, along with an updated report on second-quarter gross domestic product. On Friday, the government will release another report on personal income & spending that will help provide more details on where & how inflation is hurting consumer spending.

*The British pound slumps*
The British pound slumped to an all-time low against the dollar & investors continued to dump British government bonds in displeasure over a sweeping tax cut plan announced in London last week. Treasury yields continued to rise as the Federal Reserve & other global central banks step up their fight against inflation.

*The ASX has extended its losses yesterday*
The Australian All Ordinaries tumbled (1.79%) with the ASX 200 falling (1.6%) for the same period. The recent fall is a “continued reaction” to the fiscal slump in the US with an immerging fear of a recession in the UK. The global outlook is deteriorating causing a knock-on effect on our market. Treasurer Jim Chalmers warns we are not immune from the “deteriorating” but remains optimistic about the near future expecting our economy to keep growing.

*ASX to edge higher* Time stamp (6:15 am)
Australian shares are poised to edge higher today. The ASX futures were up 17 points or 0.26% to 6483 points at 6.15 am AEST.






Skate.


----------



## Skate

*The Dow Jones at the close*
The index had a quick sell-off at the close as stocks trended lower. The Dow Jones Industrial Average fell 329.60 points, or 1.1%, to 29,260.81. 







*The S&P 500 at the close*
The S&P 500 fell 38.19 points, or 1%, to 3,655.04. Stocks trend lower during the day & quickly sold off at the close. Strangely, consumer discretionary held onto gains.






*The Nasdaq at the close*
The Nasdaq fell 65 points, or 0.6%, to 10,802.92. The technology-heavy Nasdaq Composite sank 0.6%, erasing a gain of more than 1% earlier in the trading day. Nearing the close heavily selling was also the order of the day.






Skate.


----------



## Skate

*Yields are higher, the dollar is stronger & stocks are weak*
The Dow Jones Industrial Average became the last of the major U.S. stock indexes to fall into what’s known as a bear market Monday as the market deepened its slump amid growing fears of a global recession. The index has extended its losing streak to the fifth day coming off its fifth weekly loss in six weeks.

*Unrest with the British government*
The British pound dropped to an all-time low against the US dollar & investors continued to dump British government bonds in displeasure over a sweeping tax cut plan announced in London last week.

*Markets in Europe closed mostly lower*
The head of the European Central Bank warned that the economic outlook “is darkening” as high energy & food prices pushed up by the war in Ukraine sap consumer spending power. France, the EU’s second-biggest economy, forecasts a substantial slowdown in economic growth next year.

Skate.


----------



## Skate

*S&P 500 sputters to another new 2022 low*
U.S. stocks closed mixed on Tuesday, with the S&P 500 closing at a new 2022 low & the Dow Jones Industrial Average falling deeper into a bear market, a day after a tumultuous trading period. Tuesday’s moves in markets come as Wall Street increasingly anticipates the Federal Reserve’s rate-hiking campaign to fight inflation.

*A wobbly day of trading on Wall Street *
The markets ended with a mixed finish for U.S. stock indexes Tuesday as markets stagger amid worries about a possible recession. The volatile trading comes a day after a broad sell-off sent the Dow Jones Industrial Average into a bear market, joining other major U.S. indexes. The S&P 500 slipped -0.21%, its sixth consecutive loss The benchmark index had been up 1.7% in the early going before a mid-afternoon pullback. The Dow fell -0.43%, while the Nasdaq composite wound up with a +0.25% gain.

*Major indexes remain in an extended slump*
With just a few days left in September, stocks are heading for another losing month as markets fear that the higher interest rates being used to fight inflation could knock the economy into a recession. “The market right now is pricing in slower growth in the near term because of higher interest rates & inflation that’s been persistently hotter for longer than expected,” said Lindsey Bell, chief markets & money strategist at Ally Invest.

*It was a mixed bag overnight*
The S&P 500 fell 7.75 points to 3,647.29. The Dow dropped 125.82 points to 29,134.99. The Nasdaq rose 26.58 points to 10,829.50. The S&P 500 is down roughly 8% in September & has been in a bear market since June when it had fallen more than 20% below its all-time high set on the 4th of January. The Dow’s drop on Monday put it in the same company as the benchmark index & the tech-heavy Nasdaq.

*Central banks around the world have been raising interest rates *
The interest rate rise is in an effort to make borrowing more expensive & cool the hottest inflation in decades. The Federal Reserve has been particularly aggressive & raised its benchmark rate, which affects many consumer & business loans, again last week. It now sits at a range of 3% to 3.25%. It was at virtually zero at the start of the year. The Fed also released a forecast suggesting its benchmark rate could be 4.4% by the year’s end, a full percentage point higher than it envisioned in June.

*Wall Street worries about a recession*
Wall Street is worried that the Fed will hit the brakes too hard on an already slowing economy & veer it into a recession. The higher interest rates have been weighing on stocks, especially pricier technology companies, which tend to look less attractive to investors as rates rise. Losses in household goods makers, communications companies & utility stocks outweighed gains elsewhere in the market. Procter & Gamble fell 2.7%, Disney lost 2.3% & Edison International fell 2.9%. Energy stocks gained ground as U.S. oil prices rose 2.3%. Exxon Mobil rose 2.1%. Fears of a recession have grown as inflation remains stubbornly hot Investors will be watching the next round of corporate earnings very closely to get a better sense of how companies are dealing with inflation. Companies will begin reporting their latest quarterly results in early October.

*Small company stocks held up better than the broader market*
The Russell 2000 added 6.63 points, or 0.4%, to close at 1,662.51. Bond yields were mostly higher Tuesday. The yield on the 2-year Treasury, which tends to follow expectations for Federal Reserve action, fell to 4.31% from 4.34% late Monday. It is trading at its highest level since 2007. The yield on the 10-year Treasury, which influences mortgage rates, rose to 3.98% from 3.93%.

*Investors are also closely watching the latest economic updates*
Consumer confidence remains strong, despite higher prices on everything from food to clothing. The latest consumer confidence report for September from The Conference Board showed that confidence was even stronger than expected by economists. The government will release its weekly report on unemployment benefits on Thursday, along with an updated report on second-quarter gross domestic product. On Friday, the government will release another report on personal income & spending that will help provide more details on where & how inflation is hurting consumer spending.

*ASX 200 expected to fall (Time Stamp 6:38 am)*
The Australian share market looks set to give back yesterday’s gains today after a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 42 points or 0.65% lower this morning.







Skate.


----------



## Skate

*The Dow Jones at the close*
Overnight the Dow Jones staggered amid worries about a possible recession with the fear that the higher interest rates being used to fight inflation could knock the economy into that recession.







*The S&P 500 at the close*
The S&P 500 slipped -0.21%, its sixth consecutive loss with the S&P 500 closing at a new 2022 low.







*The Nasdaq at the close*
The Nasdaq was the only bright spark of the day as the Nasdaq composite wound up eking out a +0.25% gain.






Skate.


----------



## bigdog

Thank you Skate









						World shares sharply lower after wobbly day on Wall Street
					

TOKYO (AP) — World shares tumbled Wednesday after a wobbly day on Wall Street as markets churned over the prospect of a possible recession.  U.S. futures and oil prices declined and China’s yuan weakened sharply.




					apnews.com
				



Stocks rally, bonds soar in relief after UK calms markets​By DAMIAN J. TROISE and STAN CHOE

Stocks rallied on Wall Street to their first gain in more than a week, as some calm returned to markets around the world Wednesday after the Bank of England moved forcefully to get a budding financial crisis there under control.

The S&P 500 jumped 2% for its best day in seven weeks to snap its longest losing streak since the coronavirus crash in February 2020. Besides the relief on Wall Street, bond markets around the world also relaxed and European stocks erased morning losses after the U.K. central bank said it would buy however many U.K. government bonds are needed to restore order to its financial markets.

The drop in bond yields eased some of the pressure that’s been choking Wall Street this year, and the Dow Jones Industrial Average rallied 1.9%. The Nasdaq composite climbed 2.1%, and the smaller stocks that make up the Russell 2000 index soared even more, 3.2%

The moves helped markets recover recent losses triggered by turmoil in U.K. financial markets. After the government there announced a sweeping set of tax cuts, investors worried the attempts to goose the U.K. economy could push already high inflation even higher. That caused the value of the British pound to plunge and bond yields globally to jump

Despite Wednesday’s rally, the U.S. stock market is still down more than 20% from its record set early this year and remains near its lowest point since late 2020. Analysts say more turbulence is likely ahead as worries about a possible recession, higher interest rates and even higher inflation continue to hang over Wall Street.

Underscoring those concerns, the yield on the 10-year U.S. Treasury briefly topped 4% Wednesday morning to touch its highest level in more than a decade. It’s been on a swift surge along with other Treasury yields as the Federal Reserve jacks up short-term interest rates at the fastest pace in decades.

By raising rates, the Fed is hoping to slow the economy enough to force down the high inflation that’s hammering the economy. But it risks creating a recession if it takes rates too high too quickly. Already, the housing industry has been hurt in particular as mortgage rates have jumped to their highest levels since 2008

A recession appears to be inevitable, according to Liz Ann Sonders, chief investment strategist at Charles Schwab. She points to several discouraging signals, including six straight months of contraction for an index of leading economic indicators. That hasn’t happened since the beginning of the global financial crisis two recessions ago.

Investment giant Vanguard puts the chance of a U.S. recession at 25% this year and at 65% next year on expectations for the Fed to keep hiking rates and to likely hold them at high levels through 2023.

Besides the worries about higher rates from the Fed and other central banks, a litany of other pressures on the market are also lurking.

Among them: Investors are worried that the stress caused by a huge run for the U.S. dollar’s value against other currencies could make something crack somewhere in global markets. In Europe, tensions are rising even further amid Russia’s invasion of Ukraine, with suspicions about sabotage to important natural gas pipelines the latest flashpoint. And profits for U.S. companies are under threat because of the slowing economy, high inflation and rising dollar

For Wednesday at least, though, the market seemed to be focused more on relief than such worries.

“Investors got a sense that maybe central banks blinked, or at least the central bank of England blinked. That has led to lower rates” for longer-term U.S. bonds, said Jack Ablin, chief investment officer at Cresset. “And that has helped push stocks higher.”

Following the Bank of England’s bond-buying announcement, the yield on the 10-year U.S. Treasury sank sharply to 3.73% from 3.95% late Tuesday. In the U.K., the 10-year yield tumbled by roughly half a percentage point to a shade above 4%

On Wall Street, a widespread rally saw nearly 35 stocks rise in the S&P 500 index for every one that fell. Health care stocks helped lead the way following an encouraging update on a potential treatment for Alzheimer’s disease

Japan’s Eisai said its potential treatment appeared to slow the fatal disease in a late-stage study. Shares of Biogen, which will co-promote the drug, soared 39.9%.

Stocks of energy producers were also strong after crude oil prices recovered some of their steep recent losses caused by recession worries.

The S&P 500 rose 71.75 points to close at 3,719.04. The Dow gained 548.75 to 29,683.74, and the Nasdaq climbed 222.13 to 11,051.64.

Wall Street’s rise came despite a 1.3% drop for Apple, which is the most influential stock in the S&P 500 because it’s the largest. It was hurt by a report from Bloomberg that said soft demand for the latest iPhone model is pushing Apple to back off plans to increase production.

Earlier in the morning, before the Bank of England’s announcement, stocks across Asia fell. Hong Kong’s Hang Seng lost 3.4%, South Korea’s Kospi fell 2.5% and Japan’s Nikkei 225 dropped 1.5%. China’s yuan also fell to a 14-year low against the dollar despite central bank efforts to stem the slide






ASX 200 Futures   
	

		
			
		

		
	



The S&P 500 rose 71.75 points to close at 3,719.04. The Dow gained 548.75 to 29,683.74, and the Nasdaq climbed 222.13 to 11,051.64.

The S&P 500 jumped 2% for its best day in seven weeks to snap its longest losing streak since the coronavirus crash in February 2020.


----------



## bigdog




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## bigdog

Wall Street drops back to lowest since 2020 as fear returns
					

NEW YORK (AP) — Stocks fell broadly on Wall Street Thursday as worries about a possible recession and rising bond yields put the squeeze back on markets.  The S&P 500 fell 2.1%, reaching its lowest level since late 2020.




					apnews.com
				




Wall Street drops back to lowest since 2020 as fear returns​By DAMIAN J. TROISE, STAN CHOE and ALEX VEIGA

Stocks fell broadly on Wall Street Thursday as worries about a possible recession and rising bond yields put the squeeze back on markets.

The S&P 500 fell 2.1%, reaching its lowest level since late 2020. The washout erased the index’s gains in a big rally the day before. That’s when forceful moves by the Bank of England to get suddenly spiking U.K. yields under control led to a global burst of relief among investors.

The Dow Jones Industrial Average fell 1.5% and the Nasdaq composite lost 2.8%. The Russell 2000 index of smaller companies dropped 2.4%.

The major indexes are on pace for a weekly loss to wind up what has been a dismal month for Wall Street. With one day left in September, the benchmark S&P 500 is down about 8% for the month.

For markets to really turn higher, after U.S. stocks have lost more than 20% of their value this year, analysts say investors will need to see a break from the high inflation that’s swept the world.

That hasn’t happened yet, with even more data arriving Thursday showing the opposite. And that means the Federal Reserve and other central banks will likely keep pushing interest rates higher to slow their economies in hopes of pushing down inflation. By doing that, they’re also risking recessions if they go too far.

“The economy doesn’t look to be softening if you look at employment data,” said Brad McMillan, chief investment officer for Commonwealth Financial Network. That undercuts any investor hopes a weakening economy could convince the Fed to take it easier on interest rates.

The selling was widespread Thursday, with more than 90% of stocks in the S&P 500 finishing in the red. The index fell 78.57 points to 3,640.47.

The Dow lost 458.13 points to close at 29,225.61, and the Nasdaq slid 314.13 points to 10,737.51. The Russell 2000 finished down 40.31 points at 1,674.93.

Stocks fell as Treasury yields climbed and raised the pressure on markets. The yield on the 10-year Treasury rose to 3.77% from 3.73% late Wednesday. It had been above 3.85% in morning trading.

The yield on the two-year Treasury, which more closely tracks expectations for Fed moves, rose more aggressively to 4.20% from 4.14%.

A stronger-than-expected report on the U.S. jobs market bolstered expectations for the Fed to keep raising rates and hold them at high levels for a while, potentially through 2023

Fewer workers filed for unemployment benefits last week than economists expected. That’s good news for workers in general and an indication layoffs aren’t widespread despite worries about the economy. But it also keeps upward pressure on inflation, which gives the Fed more reason to keep rates high.

The central bank’s benchmark overnight interest rate has already zoomed to a range of 3% to 3.25%, up from basically zero as recently as March. That’s its highest level since 2008, and the wide expectations is for the Fed to hike it by at least another full percentage point by early 2023.

Rate increases have a notoriously long lag time before they hit the broad economy. But they’re already causing big pain for the housing industry, where the average rate on a 30-year fixed mortgage has more than doubled over the last 12 months to 6.70%

Higher interest rates not only invite the possibility of a recession, they also push down on prices for stocks and other investments regardless of what the economy’s doing. Investments seen as the most expensive or the riskiest tend to take the hardest hits.

Economic reports elsewhere around the world also firmed expectations for higher rates coming in the future. In Germany, for example, a reading on inflation came in hotter than expected.

In the U.K., meanwhile, Prime Minister Liz Truss defended her plan to cut taxes even though critics said it would worsen inflation. The plan had sent U.K. bond yields spiking, forcing the Bank of England on Wednesday to pledge to buy however many U.K. government bonds are needed to lower yields. The bond-buying announcement came just before the central bank had planned to do the opposite and sell some of the bonds it had purchased earlier to support the economy

Even beyond the worries about central banks and rates, many other concerns continue to hang over markets.

A supercharged U.S. dollar has climbed so much so quickly against other currencies that investors worry something could break somewhere in global markets. Europe’s already struggling economy looks to be facing more pressure from high energy prices amid accusations that someone deliberately damaged pipelines delivering gas from Russia to Germany. And in the U.S., investors are concerned that one of the main levers setting stock prices may be under threat as corporate profits bend under higher interest rates, a slowing economy and high inflation.

CarMax, the auto seller, plunged 24.6% for the largest loss in the S&P 500 after it reported weaker profit than expected for the three months through August. It said the used auto market is tough generally, as higher interest rates make getting auto loans more expensive













The selling was widespread Thursday, with more than 90% of stocks in the S&P 500 finishing in the red. The index fell 78.57 points to 3,640.47.

The Dow lost 458.13 points to close at 29,225.61, and the Nasdaq slid 314.13 points to 10,737.51. The Russell 2000 finished down 40.31 points at 1,674.93


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## bigdog

Stocks end September down 9.3%, worst month since March 2020
					

Wall Street closed out a miserable September on Friday with the S&P 500's worst monthly skid since March 2020, when the coronavirus pandemic crashed global markets.  The benchmark index ended the month with a 9.3% loss and posted its third straight losing quarter.




					apnews.com
				




Stocks end September down 9.3%, worst month since March 2020​By STAN CHOE and ALEX VEIGA

Wall Street closed out a miserable September on Friday with the S&P 500′s worst monthly skid since March 2020, when the coronavirus pandemic crashed global markets.

The benchmark index ended the month with a 9.3% loss and posted its third straight losing quarter. It’s now at its lowest level since November 2020 and is down by more than a quarter since the start of the year.

The main reason financial markets continue to struggle is fear about a possible recession, as interest rates soar in hopes of beating down the high inflation that’s swept the world.

“Quite frankly, if it’s a deep recession you’re going to have to see more of a sell-off,” said Quincy Krosby, chief equity strategist for LPL Financial. “This is what the market is trying to navigate now.”

The Federal Reserve has been at the forefront of the global campaign to slow economic growth and hurt job markets just enough to undercut inflation but not so much that it causes a recession. On Friday, the Fed’s preferred measure of inflation showed it was worse last month than economists expected. That should keep the Fed on track to keep hiking rates and hold them at high levels a while, raising the risk of it going too far and causing a downturn

Vice Chair Lael Brainard was the latest Fed official on Friday to insist it won’t pull back on rates prematurely.
“At this point, it’s not a matter of if we’ll have a recession, but what type of recession it will be,” said Sean Sun, portfolio manager at Thornburg Investment Management.

All told, the S&P 500 fell 54.85 points, or 1.5%, to close at 3,585.62 Friday, after flipping between small losses and gains in the early going. It has now posted a weekly loss in six out of the last seven weeks.

The Dow Jones Industrial Average dropped 500.10 points, or 1.7%, to 28,725.51. The Nasdaq composite slid 161.89 points, or 1.5%, to 10,575.62. The tech-heavy index sank 10.5% in September and is down 32.4% so far this year.

Smaller company stocks also had a rough September. The Russell 2000 ended the month down 9.7%. On Friday, it lost 10.21 points, or 0.6%, to 1,664.72.

Higher interest rates knock down one of the main levers that set prices for stocks. The other lever also looks to be under threat as the slowing economy, high interest rates and other factors weigh on corporate profits

Cruise ship operator Carnival dropped 23.3% for the biggest decline among S&P 500 stocks after it reported a bigger loss for its latest quarter than analysts expected and revenue that fell short of expectations. Rivals Norwegian Cruise Line and Royal Caribbean Group slid 18% and 13.2%, respectively.

Nike slumped 12.8%, its worst day in more than 20 years, after it said its profitability weakened during the summer because of discounts needed to clear suddenly overstuffed warehouses. The amount of shoes and gear in Nike’s inventories swelled by 44% from a year earlier.

This year’s powerful surge for the U.S. dollar against other currencies also hurt Nike. Its worldwide revenue rose only 4%, instead of the 10% it would have if currency values had remained the same

Nike isn’t the only company to see its inventories balloon. So have several big-name retailers, and such bad news for businesses could actually mean some relief for shoppers if it leads to more discounts. It echoed some glimmers of encouragement buried within Friday’s report on the Fed’s preferred gauge of inflation. That showed some slowing of inflation for goods, even as price gains kept accelerating for services.

Another report on Friday also offered a glimmer of hope. A measure of consumer sentiment showed U.S. expectations for future inflation came down in September. That’s crucial for the Fed because tightly held expectations for higher inflation can create a debilitating, self-reinforcing cycle that worsens it.

Treasury yields initially eased a bit on Friday, letting off some of the pressure that’s built on markets, but then turned higher by late afternoon.

The yield on the 10-year Treasury rose to 3.81% from 3.79% late Thursday. The two-year yield, which more closely tracks expectations for Fed action, rose to 4.23% from 4.19%

Not all stocks took a beating in September. Biogen soared 35%, but it was an outlier. FedEx was among the market’s biggest losers, ending the month 29.6% lower.

Looking at the third quarter, which included a market rally in July, Netflix was among the best performers, climbing 34.6%. It’s still down 60.9% for the year.

A long list of other worries continues to hang over global markets, including increasing tensions between much of Europe and Russia following the invasion of Ukraine. A controversial plan to cut taxes by the U.K. government also sent bond markets spinning recently on fears it could make inflation even worse. Bond markets calmed a bit only after the Bank of England pledged mid-week to buy however many U.K. government bonds are needed to bring yields back down.

The stunning and swift rise of the U.S. dollar against other currencies, meanwhile, raises the risk of creating so much stress that something cracks somewhere in global markets

Stocks around the world were mixed after a report showed that inflation in the 19 countries that use Europe’s euro currency spiked to a record and data from China said that factory activity weakened there


----------



## bigdog

the S&P 500 fell 54.85 points, or 1.5%, to close at 3,585.62 Friday, after flipping between small losses and gains in the early going. It has now posted a weekly loss in six out of the last seven weeks.


The Dow Jones Industrial Average dropped 500.10 points, or 1.7%, to 28,725.51. The Nasdaq composite slid 161.89 points, or 1.5%, to 10,575.62. The tech-heavy index sank 10.5% in September and is down 32.4% so far this year.


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## CityIndex

It could be really interesting to see how US markets, and by extension, global indices, trade over the coming weeks. 

The S&P500 finally closed below the June low on Friday with the higher volume on the day. This could open the door to a strong downside break as the fundamental backdrop remains bearish. However, after 3 straight quarters of losses and the worse month since March 2020, selling pressure is at an extreme, and any positive news for equities could fuel a bounce. 

All trading carries risk, but things may be set up for a big move in either direction this month.


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## bigdog

Wall Street soars to best day since summer, S&P 500 up 2.6%
					

NEW YORK (AP) — Stocks on Wall Street rallied to their best day in months on Monday after falling bond yields eased some of the pressure that’s been battering markets. The S&P 500's leap of 2.6% was its biggest since July, the latest swing for a scattershot market that’s been mostly falling this...




					apnews.com
				




Wall Street soars to best day since summer, S&P 500 up 2.6%​By DAMIAN J. TROISE and STAN CHOE

Stocks on Wall Street rallied to their best day in months on Monday after falling bond yields eased some of the pressure that’s been battering markets.

The S&P 500′s leap of 2.6% was its biggest since July, the latest swing for a scattershot market that’s been mostly falling this year on worries about a possible global recession. Wall Street’s main measure of health was coming off its worst month since the coronavirus crashed markets in early 2020 and is still down nearly 23% for the year.

The Dow Jones Industrial Average jumped 2.7%, and the Nasdaq composite gained 2.3% in Monday’s widespread rally that swept the vast majority of U.S. stocks higher.

Giving some respite was a drop in Treasury yields, which have been surging at market-shaking speed for most of the year. The yield on the 10-year Treasury, which helps set rates for mortgages and many other kinds of loans, fell to 3.64% from 3.83% late Friday. It got as high as 4% last week after starting the year at just 1.51%

Helping to drive markets was a report on U.S. manufacturing that came in weaker than expected, along with data showing a drop off in construction sending. While that may seem discouraging for the economy, it could mean the Federal Reserve won’t have to be so aggressive about raising interest rates in order to beat down the high inflation damaging households’ finances

By raising rates, the Fed is making it more expensive to buy a house, a car or most anything else purchased on credit. The hope is to slow the economy just enough to starve inflation of the purchases needed to keep prices rising so quickly. But the Fed also risks causing a recession if it goes too far.

The Fed has already pulled its key overnight interest rate to a range of 3% to 3.25%, up from virtually zero as recently as March. Most traders expect it to be more than a full percentage point higher by early next year.

The yield on the two-year Treasury, which more closely tracks expectations for Fed action, fell to 4.11% from 4.27% following the weaker-than-expected reports on the economy.

Besides stocks, lower rates also boost prices for everything from cryptocurrencies to gold, which can suddenly look a bit more attractive when bonds are paying less in income

Stocks of high-growth companies and particularly risky or expensive investments have been the most affected by changes in rates. Bitcoin rallied Monday with the reprieve in yields, while technology stocks did the heaviest lifting to carry the S&P 500. Apple and Microsoft both rose more than 3%.

Altogether, the S&P 500 climbed 92.81 points to close at 3,678.43. The Dow gained 765.38 to 29,490.89, and the Nasdaq rose 239.82 to 10,815.43.

Still, cross currents continue to course through markets, and analysts largely expect sharp swings in prices to continue.

Crude oil prices jumped Monday amid speculation big oil-producing countries could soon announce cuts to production. That adds upward pressure on inflation.

It also lifted shares of energy-producing companies to big gains. Exxon Mobil leaped 5.3%, and Chevron climbed 5.6%.

Monday’s rally came despite an 8.6% drop for Tesla, one of the most influential stocks on Wall Street because of its massive market value. The maker of electric vehicles delivered fewer vehicles from July through September than investors expected.

More turbulence for markets could arrive Friday, when the latest update on the U.S. jobs market hits. Along with its reports on inflation, the U.S. government’s jobs report has been one of the most highly anticipated pieces of data on Wall Street each month.

It will be the last jobs report before the Fed makes its next decision on interest rates, scheduled for Nov. 2, and continued strength would give the central bank more leeway to keep hiking. Traders say the likeliest move is a fourth straight increase of a whopping three-quarters of a percentage point, triple the usual move.

For markets to make a meaningful move higher, many investors say they need to see a break in inflation that gets the Fed to ease off its aggressive path

Such hopes for a Fed “pivot” by investors have repeatedly resurfaced this year, only to get shot down by further accelerations in inflation.

But with stresses building in financial markets as central banks around the world hike rates in concert, conditions have gotten “into the danger zone where ‘bad stuff’ happens,” according to Michael Wilson, equity strategist at Morgan Stanley.

That could get the Fed to blink at some point. The problem, Wilson says, is that another force weighing on markets could soon come to the forefront: weaker corporate profits.

A suite of challenges from higher interest rates to the surging value of the U.S. dollar may be setting things up for “the freight train of the oncoming earnings recession,” he wrote in a report. Companies are getting ready now to report in upcoming weeks how much they earned during the summer, and analysts have been downgrading their expectations





The S&P 500′s leap of 2.6% was its biggest since July, the latest swing for a scattershot market that’s been mostly falling this year on worries about a possible global recession. Wall Street’s main measure of health was coming off its worst month since the coronavirus crashed markets in early 2020 and is still down nearly 23% for the year.

The Dow Jones Industrial Average jumped 2.7%, and the Nasdaq composite gained 2.3% in Monday’s widespread rally that swept the vast majority of U.S. stocks higher.


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## bigdog

Stocks rise in extended rally, clawing back more ground
					

The Dow Jones Industrial Average climbed more than 800 points and the S&P 500 had its best day in more than two years Tuesday as the market clawed back more of the ground it lost in a miserable several weeks on Wall Street.




					apnews.com
				




Stocks rise in extended rally, clawing back more ground​By DAMIAN J. TROISE and ALEX VEIGA

The Dow Jones Industrial Average climbed more than 800 points and the S&P 500 had its best day in more than two years Tuesday as the market clawed back more of the ground it lost in a miserable several weeks on Wall Street.

The S&P 500 rose 3.1%, its best day since May 2020, as all but five of the stocks in the index notched gains. The benchmark index has been rallying since hitting its lowest point of the year on Friday to close out a September slump.

Twitter surged 22.2% after Elon Musk said he would go ahead with his $44 billion acquisition of the social media company, abandoning months of efforts to get out of the deal.

The Dow rose 2.8% and the Nasdaq composite climbed 3.3%. Small company stocks also made solid gains, lifting the Russell 2000 3.9% higher. European and Asian markets also rose broadly.

The market’s gains come as major indexes remain in a bear market after falling 20% or more from their most recent record highs. The two-day rally is hitting markets as investors look for signs that central banks might ease up on their aggressive rate hikes aimed at taming the hottest inflation in four decades

Australia’s central bank made an interest rate hike that was smaller than previous ones and that helped Australia’s market jump 3.8%. It is a potentially positive signal for investors, along with the latest jobs data from the U.S.

Investors in the U.S. received potentially encouraging news from a government report on job openings that showed the number of available jobs in the U.S. plummeted in August compared with July. It’s a sign that businesses may pull back further on hiring and potentially cool chronically high inflation.

The optimism could be misguided as inflation remains stubbornly hot, said John Lynch, chief investment officer for Comerica Wealth Management.

“Investors should be worried about false positives,” he said. “Be wary of the history of bear market rallies, they can be very seductive.”

Major indexes could be in store for more declines ahead, he said, as more economic data and the next round of earnings reports paints a clearer picture of how inflation continues to impact business operations and consumer spending.

The S&P 500 rose 112.50 points to 3,790.93, while the Dow gained 825.43 points to close at 30,316.32. The Nasdaq rose 360.97 points to 11,176.41 and the Russell 2000 added 66.90 points at 1,775.77

Treasury yields continued to pull back from their multiyear highs, which has helped relieve some of the pressure on stocks. The yield on the 10-year Treasury, which helps set rates for mortgages and many other kinds of loans, slipped to 3.64% from 3.65% late Monday. It got as high as 4% last week after starting the year at just 1.51%.

The yield on the two-year Treasury, which more closely tracks expectations for Federal Reserve action, fell to 4.10% from 4.12% late Monday.

The market was mostly quiet with company news ahead of the next round of corporate earnings.

Cruise line operators were among the biggest gainers in the S&P 500. Norwegian Cruise Line jumped 16.8%, Royal Caribbean surged 16.7% and Carnival gained 13.3%

Investors are watching closely as central banks raise interest rates to make borrowing more difficult and slow economic growth to try to tame inflation. Investors are hoping that they will eventually ease off their aggressive rate hikes and the move by Australia’s central bank is a hopeful sign for some.

Wall Street is worried that the rate hikes, especially the increases from the Fed, could go too far in slowing growth and send economies into a recession. The Fed has already pushed its key overnight interest rate to a range of 3% to 3.25%, up from virtually zero as recently as March.

Economic growth is already slowing globally and the U.S. economy contracted during the first two quarters of the year, which is considered an informal signal of a recession. The economy still has several strong pockets, including employment.

Wall Street will get a more detailed look at the employment situation in the U.S. this week, with a report on hiring by private companies due out Wednesday, the latest tally of weekly applications for unemployment benefits on Thursday and the government’s monthly jobs report for September on Friday.

If those reports point to a still strong job market, that could trigger a bond market sell-off, which would weigh on stocks, said Jay Hatfield, CEO of Infrastructure Capital Advisors.

“All those could hit the stock market because right now the bond market is really driving the stock market,” he said

ASX 200 Futures Overview​





The Dow Jones Industrial Average climbed more than 800 points and the S&P 500 had its best day in more than two years Tuesday as the market clawed back more of the ground it lost in a miserable several weeks on Wall Street.

The S&P 500 rose 112.50 points to 3,790.93, while the Dow gained 825.43 points to close at 30,316.32. The Nasdaq rose 360.97 points to 11,176.41 and the Russell 2000 added 66.90 points at 1,775.77









​


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## bigdog

Wall Street's rally runs out of gas, leaving indexes lower
					

A wobbly day of trading on Wall Street ended with stocks slightly lower Wednesday as a gangbuster two-day rally ran out of gas.  Stock indexes had been in the red much of the day before briefly shifting into the green following a late-afternoon burst of buying.




					apnews.com
				




Wall Street’s rally runs out of gas, leaving indexes lower​By DAMIAN J. TROISE and ALEX VEIGA

A wobbly day of trading on Wall Street ended with stocks slightly lower Wednesday as a gangbuster two-day rally ran out of gas.

Stock indexes had been in the red much of the day before briefly shifting into the green following a late-afternoon burst of buying. The S&P 500 ended 0.2% lower after having veered between a low of 1.8% and a high of 0.4%. The benchmark index was coming off its best two-day rally since the spring of 2020.

The Dow Jones Industrial Average slipped 0.1% and the Nasdaq composite fell 0.2%. The Russell 2000 index of small company stock closed 0.7% lower.

Bond yields rose broadly. Oil prices also rose after the OPEC+ cartel ordered production cuts.

The broader market is still bruised from its stumble in September, but investors have been hoping that signs of a softening economy may convince central banks to temper their aggressive interest rate hikes. Analysts have said such hopes may be premature.

“I’m not surprised with short-term traders looking to take profits now and then decide later whether this is the beginning of a lasting bear market bounce or even the beginning of a new bull market,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 dropped 7.65 points to 3,783.28. The Dow slipped 42.45 points to close at 30,273.87. The Nasdaq slid 27.77 points to 11,148.64. The Russell 2000 fell 13.07 points to 1,762.69

Financial companies and utilities were among the sectors that weighed down the market. JPMorgan Chase fell 1.3% and Duke Energy dropped 3.2%.

Technology companies and health care stocks rose. Qualcomm gained 2.1% and Illumina climbed 6.6%.

Energy stocks gained ground as U.S. crude oil prices rose 1.4%. Exxon Mobil rose 4%.

Treasury yields rose and applied more pressure to stocks after several days of relief. Higher yields mean higher borrowing costs for companies, and they also make bonds more appealing to investors versus stocks.

The yield on the 10-year Treasury, which helps set rates for mortgages and many other kinds of loans, jumped to 3.75% from 3.61% late Tuesday.

The yield on the two-year Treasury, which more closely tracks expectations for Federal Reserve action, rose to 4.13% from 4.10% late Monday.

Wall Street is preparing for the next round of corporate earnings reports to get a better sense of how hard the hottest inflation in four decades is squeezing businesses and consumers

Higher energy prices, particularly for gasoline, were a big reason for inflation’s surge earlier in the year. Stubbornly hot inflation, despite energy costs easing over the last few months, remains a big focus for investors. The Fed and other central banks have been raising interest rates to make borrowing more difficult and slow economic growth, but Wall Street is concerned that the potential solution for high inflation could result in a recession.

Investors are looking for signs that the economy is slowing enough to allow central banks a reason to ease up on rate hikes. Some signs this week included a tamer rate hike by Australia’s central bank and a U.S. report showing that the number of available jobs plummeted in August

“We’ve heard about companies that while they’re not laying people off they are reducing the number of jobs available,” Stovall said. “So, the higher rates and higher inflation certainly are having their effect on hiring.”

Employment has been a particularly strong area of the economy and any signs that the hot job market is cooling could mean that inflation might follow. Analysts have said such hopes may be premature. A report on U.S. job growth at private employers came in stronger than expected Wednesday, as did a report on the services sector.

Wall Street will get a more detailed look at employment in the U.S. on Friday with the government’s monthly jobs report for September.

Stocks are “in the midst of a tug of war between reality and expectations,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.

The reality is that inflation remains hot while markets expect it has peaked and that the Fed will ease up on rate increases, he said. Trading will likely remain volatile because of that dynamic and other uncertainties hanging over the market

“We need time for the pace of inflation to show it’s under control,” he said.

The Fed has said it is determined to continue raising interest rates until it is satisfied that inflation is under control. That resolve has been echoed by some central banks globally.

New Zealand’s central bank raised its benchmark interest rate to 3.5%, saying inflation remained too high, most recently at 7.3%, and labor scarce. The half-point rate increase was the fifth in a row by the Reserve Bank of New Zealand since February.





The S&P 500 dropped 7.65 points to 3,783.28. The Dow slipped 42.45 points to close at 30,273.87. The Nasdaq slid 27.77 points to 11,148.64. The Russell 2000 fell 13.07 points to 1,762.69


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## bigdog

Asian stock markets fall ahead of US employment update
					

BEIJING (AP) — Asian shares followed Wall Street lower Friday ahead of U.S. jobs data investors hope will persuade the Federal Reserve to ease off plans for more interest rate hikes. Tokyo and Hong Kong, the region's biggest markets, retreated.




					apnews.com
				




Stocks close lower again on Wall Street, still up for week​By DAMIAN J. TROISE and ALEX VEIGA

A choppy day of trading ended with stocks broadly lower on Wall Street Thursday, though indexes have managed to hold onto most of their sizeable gains from a big rally at the start of the week.

The S&P 500 fell 1% after having been up 0.4% in the early going. The benchmark index is up 4.4% for the week following its best two-day rally since the spring of 2020.

The selling was widespread, with roughly 80% of the stocks in the S&P 500 ending in the red. The Dow Jones Industrial Average fell 1.1%, while the Nasdaq composite lost 0.7%. The Russell 2000 index of smaller company stocks closed 0.6% lower.

Treasury yields gained ground and put more pressure on stocks. The yield on the 10-year Treasury, which helps set rates for mortgages and many other kinds of loans, rose to 3.81% from 3.75% late Wednesday. The yield on the two-year Treasury, which more closely tracks expectations for Federal Reserve action, rose to 4.22% from 4.14% late Monday

Investors were reviewing the latest data on jobs, which showed more Americans filed for unemployment benefits last week. Traders will be watching closely on Friday when the government releases its monthly job market data.

The labor market remains strong in the face of persistent inflation and a slowing overall U.S. economy. That’s good for job hunters, but could give the Federal Reserve more reason to keep raising interest rates in its bid to crush inflation. Wall Street is eager for definitive signs that inflation is on the wane and the central bank can finally ease back on its rate hikes

“We still have very, very hot inflation, and there’s nothing slowing the Fed anytime soon,” said Paul Kim, CEO of Simplify ETFs. “And the market’s just waiting for clarity. And that’s why you’re seeing a little bit of choppiness, but no real clear direction.”

The S&P 500 fell 38.76 points to 3,744.52. The Dow dropped 346.93 points to close at 29,926.94. The Nasdaq slid 75.33 points at 11,073.31. The Russell 2000 fell 10.18 points to 1,752.51.

Technology, financial and health care stocks were among the biggest weights on the market. Intel dropped 1.7%, Citigroup fell 1.8% and Johnson & Johnson fell 1.9%.

Energy stocks mostly rose as the price of U.S. crude oil increased 0.8%. Marathon Oil gained 3.9%

Shares in cannabis companies surged following a late-afternoon announcement by the White House that President Biden is pardoning thousands of Americans convicted of “simple possession” of marijuana under federal law.

Biden also directed the secretary of Health and Human Services and the U.S. attorney general to review how marijuana is scheduled under federal law. It is currently classified as a Schedule I drug, alongside heroin and LSD. Rescheduling the drug would reduce or potentially eliminate criminal penalties for possession.

Tilray Brands, MedMen Enterprises, Curaleaf and Trulieve Cannabis were among the cannabis stocks that jumped at least 30%. These and most other cannabis stocks remain deeply in the red for the year, however.

Wall Street is watching employment data very closely as the Fed remains determined to raise interest rates to try and tame the hottest inflation in four decades. Investors are concerned that the Fed could go too far with its rate increases and push the economy into a recession

New U.S. government data showed that more Americans filed for unemployment benefits last week, the largest number in four months.

The job market has been a particularly strong area of an otherwise slowing economy. Any sign that it’s weakening could factor into the the Fed’s future decisions to either remain aggressive or ease up. Government employment data released on Tuesday indicated that the job market may be cooling. A more closely watched monthly employment report, for September, will be released on Friday.

Wall Street analysts expect the government to report that the U.S. economy added 250,000 jobs last month, well below the average of 487,000 a month over the past year, but still a strong number that suggests the labor market is healthy despite chronic inflation and two straight quarters of U.S. economic contraction

More broadly, the global economy has also been hit hard by record inflation and lingering uncertainty over Russia’s invasion of Ukraine. That conflict continues to hang over energy costs worldwide, but especially for Europe. The International Monetary Fund is once again lowering its projections for global economic growth in 2023 and said the risks of a recession are rising.

Investors will soon get more information on just how hard inflation is squeezing businesses and consumers when companies start reporting their third-quarter financial results this month. More importantly, Wall Street will be listening closely to what executives say about expectations for the remainder of the year and into 2023






The S&P 500 fell 1% after having been up 0.4% in the early going. The benchmark index is up 4.4% for the week following its best two-day rally since the spring of 2020.

The selling was widespread, with roughly 80% of the stocks in the S&P 500 ending in the red. The Dow Jones Industrial Average fell 1.1%, while the Nasdaq composite lost 0.7%. The Russell 2000 index of smaller company stocks closed 0.6% lower.


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## CityIndex

Not too surprising to see the S&P500 find some selling pressure this week around the long-term support-turned-resistance of 3800. Tonight's NFP report will likely be key in whether the index faces a stronger rejection from this level, or if it can break higher over the near-term. 

All trading carries risk, and although we should see further signs of the US labour market cooling, the print will most likely need to be below current market expectations of 265K new jobs in order to boost bets on the Fed slowing the pace of their rate hikes.


----------



## bigdog

*A SEA OF RED TODAY*










						Stocks lose more ground on fears a recession may be looming
					

NEW YORK (AP) — Good news on the economy remains bad news for Wall Street, as stocks fell sharply Friday on worries a still-strong U.S jobs market may actually make a recession more likely. The S&P 500 ended 2.8% lower after briefly dropping 3.3% as traders weighed a government report showing...




					apnews.com
				




Stocks lose more ground on fears a recession may be looming​By STAN CHOE and ALEX VEIGA

Good news on the economy remains bad news for Wall Street, as stocks fell sharply Friday on worries a still-strong U.S jobs market may actually make a recession more likely.

The S&P 500 ended 2.8% lower after briefly dropping 3.3% as traders weighed a government report showing employers hired more workers last month than economists expected. The Dow Jones Industrial Average fell 2.1% and the Nasdaq composite lost 3.8%.

Wall Street is worried the Federal Reserve could see that as proof the economy has yet to slow enough to get inflation under control. That could clear the way for the Fed to continue hiking interest rates aggressively, something that risks causing a recession if done too severely.

“The employment situation is still good and that might be a little frustrating to the Fed,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments. “The Fed thinks we need more people unemployed in order to make sure inflation comes down and stays down.”

Stocks have tumbled over 20% from records this year on worries about inflation, interest rates and the possibility of a recession.

The major indexes managed to notch a gain for the week, thanks to a powerful but short-lived rally Monday and Tuesday after some investors squinted hard enough at some weaker-than-expected economic data to suggest the Fed may take it easier on rate hikes. But Friday’s jobs report may have dashed such hopes for a “pivot” by the Fed. It’s a pattern that has been repeated several times this year

“For for a lot of this a year, there really has been a degree of false optimism among many investors that the Fed would would tap the brakes and pivot sooner than they’ve been telling us they will for quite some time,” Bill Merz, head of capital market research at U.S. Bank Wealth Management.

“The market is increasingly coming to terms with, albeit gradually, that the Fed is highly unlikely to pivot in the near-term as some have been hoping for.”

Employers added 263,000 jobs last month. That’s a slowdown from the hiring pace of 315,000 in July, but it’s still more than the 250,000 that economists expected.

Also discouraging for investors was that the unemployment rate improved partly for the wrong reasons. Among people who aren’t working, fewer than usual are actively looking for jobs. That’s a continuation of a longstanding trend that could keep upward pressure on wages and inflation.

“We are not out of the woods yet, but should be getting closer as the impact of aggressive policy starts to take hold,” said Matt Peron, director of research at Janus Henderson Investors.

By hiking interest rates, the Fed is hoping to slow the economy and jobs market. The plan is to starve inflation of the purchases needed to keep prices rising even further. The Fed has already seen some effects, with higher mortgage rates hurting the housing industry in particular. The risk is that if the Fed goes too far, it could squeeze the economy into a recession. In the meantime, higher rates push down on prices for stocks, cryptocurrencies and other investments.

“Everything hinges on inflation at this point,” said Peter Essele, head of portfolio management for Commonwealth Financial Network. “We do think its going to moderate over the next few quarters.”

Altogether, many investors see Friday’s jobs data keeping the Fed on track to hike its overnight rate by three-quarters of a percentage point next month. It would be the fourth such increase, which is triple the usual amount, and bring the rate up to a range of 3.75% to 4%. It started the year at virtually zero.

Crude oil, meanwhile, continued its sharp climb and is heading for its biggest weekly gain since March. Benchmark U.S. crude jumped 4.7% to settle at $92.64 per barrel. Brent crude, the international standard, rose 3.7% to settle at $97.92.

They’ve shot higher because big oil-producing countries have pledged to cut production in order to keep prices up. That should keep the pressure up on inflation, which is still near a four-decade high but hopefully moderating.

The rise for crude helped stocks of oil-related companies to be among Wall Street’s very few to rise Friday. Oilfield services provider Halliburton climbed 2%.

Stocks of technology companies led the way in the opposite direction. They’ve been among the hardest hit by this year’s rising rates, which most hurt investments seen as the riskiest, most expensive or having to make investors wait the longest for big growth.

Microsoft slumped 5.1%, and Amazon fell 4.8%.

All told, more than 90% of stocks in the S&P 500 closed lower Friday. The index fell 104.86 points to 3,639.66. It ended with a 1.5% gain for the week, its first weekly gain in four weeks.

The Dow dropped 630.15 points to 29,296.79, while the Nasdaq lost 420.91 points to close at 10,652.40.

Smaller company stocks also gave up more ground. The Russell 2000 index fell 50.36 points, or 2.9%, at 1,702.15.

Beyond higher interest rates, analysts say the next hammer to hit stocks could be a potential drop in corporate profits. Companies are contending with high inflation and interest rates eating into their earnings, while the economy slows.

Advanced Micro Devices fell 13.9% after it warned revenue for its latest quarter is likely to come in at $5.6 billion, below its prior forecasted range of $6.5 billion to $6.9 billion. AMD said the market for personal computers weakened significantly during the quarter, hurting its sales.

Levi Strauss fell 11.7% after it cut its financial forecast for its fiscal year. It cited the surging value of the U.S. dollar against other currencies, which weakens the dollar value of sales made abroad, as well as a more cautious outlook on economies across North America and Europe.

Treasury yields rose immediately after the jobs report’s release, though they wobbled a bit afterward. The yield on the 10-year Treasury, which helps set rates for mortgages and other loans, climbed to 3.89% from 3.83% late Thursday.

The two-year yield, which more closely tracks expectations for Fed action, rose to 4.31% from 4.26%. Earlier in the morning, it climbed above 4.33% and was near its highest level since 2007.


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## bigdog

The S&P 500 ended 2.8% lower after briefly dropping 3.3% as traders weighed a government report showing employers hired more workers last month than economists expected. The Dow Jones Industrial Average fell 2.1% and the Nasdaq composite lost 3.8%.


----------



## bigdog

*SEA OF RED YESTERDAY*









						Asian shares fall as technology shares pull benchmarks lower
					

TOKYO (AP) — Asian shares were mostly lower on Tuesday as losses in technology-related shares weighed on global benchmarks.  Taiwan dropped 4% after reopening from a holiday in the first trading session since the U.S.




					apnews.com
				




Stocks close lower on Wall Street ahead of earnings reports​By DAMIAN J. TROISE and ALEX VEIGA

Wall Street added to its recent string of losses Monday, as stocks fell ahead of a busy week of inflation updates and the start of corporate earnings reporting season.

The S&P 500 fell 0.7%, extending its losing streak to a fourth day. The Dow Jones Industrial Average lost 0.3% after wavering between small gains and losses, and the Nasdaq composite fell 1%. The Dow and Nasdaq have also closed lower the past four trading days.

Small company stocks also fell, dragging the Russell 2000 index 0.6% lower. U.S. bond trading was closed.

Major indexes are coming off a volatile week where they notched out gains because of an early two-day rally that shielded stocks from several weak days.

Wall Street has been turbulent amid worries about stubbornly hot inflation and the Federal Reserve’s plan to tame high prices by raising interest rates. The goal is to slow economic growth and cool both borrowing and spending in order to get inflation under control, but the plan risks sending the economy into a recession

Investors will potentially get a more detailed picture of the Fed’s thinking on Wednesday when the central bank releases minutes from its latest policy meeting. That’s when the Fed made another extra-big interest rate increase of three-quarters of a percentage point

“Nobody’s arguing about whether inflation is falling, it’s simply the slope of the slide,” said David Kelly, chief global strategist at JPMorgan Funds. “The inflation battle is being won and the problem is the recession battle may be getting lost unnecessarily.”

Wall Street will also get important updates on inflation and more insight into how that is impacting retail sales.

The government on Wednesday will release its report on producer prices, which will provide details for inflation on the wholesale level for businesses. The closely watched report on consumer prices will be released on Thursday and a report on retail sales will be released on Friday.

The latest sales update could confirm that consumers are increasingly stretched financially, or at least pulling back on spending. That could send a signal to the Fed, Kelly said.

“I’m just hoping the Fed is watching these indicators,” he said. “It should tell them they’re much closer to both beating inflation and killing the economy than they think they are.”

Uncertainty about how the economy will weather future Fed rate hikes has helped keep trading choppy on Wall Street. The major indexes were all briefly in the green Monday, before ending up in the red by the end of the day.

The S&P 500 fell 27.27 points to 3,612.39. The Dow dropped 93.91 points to close at 29,202.88. The Nasdaq lost 110.30 points to 10,542.10. The Russell 2000 fell 10.23 points to 1,691.92.

Technology stocks were the biggest weights on the market. Makers of semiconductors and chip manufacturing equipment also suffered heavy selling after the U.S. government tightened export controls to limit China’s ability to get advanced computing chips, develop and maintain supercomputers, and make advanced semiconductors. Nvidia fell 3.4%

Energy stocks fell as the price of U.S. crude oil dropped 1.6%. Occidental Petroleum slid 5.6%.

Health care stocks also helped pull the S&P 500 lower. Pfizer lost 1.4%.

Industrial companies and others considered less risky, such as household goods makers, held up better than the rest of the market.

A busy week of closely watched economic reports comes amid the opening to the latest round of corporate earnings reports. Those reports, and statements from companies and corporate executives, could help provide a clearer picture of how high prices are impacting revenue and profits and the expectations for the rest of the year and even into 2023.

PepsiCo, Delta Air Lines and Walgreens are among the big companies reporting earnings this week. Several major banks will report their results on Friday, including JPMorgan Chase and Citigroup.

Inflation and recession risks remain at the top of the list for big concerns, but COVID-19 and its potential to worsen already slowing economic growth continues to linger. Stocks fell in Hong Kong and Shanghai on news of more lockdowns in China due to rising COVID-19 cases. Markets in Tokyo were closed for a holiday.

Casino and resort operators with operations in China slumped over worries about the impact from more lockdowns. Wynn Resorts fell 12.2% for the biggest decline among S&P 500 companies and Las Vegas Sands slid 7.6%






The S&P 500 fell 27.27 points to 3,612.39. The Dow dropped 93.91 points to close at 29,202.88. The Nasdaq lost 110.30 points to 10,542.10. The Russell 2000 fell 10.23 points to 1,691.92.

The S&P 500 fell 0.7%, extending its losing streak to a fourth day. The Dow Jones Industrial Average lost 0.3% after wavering between small gains and losses, and the Nasdaq composite fell 1%. The Dow and Nasdaq have also closed lower the past four trading days.


----------



## bigdog

Asian shares mostly lower ahead of price, earnings reports
					

TOKYO (AP) — Asian shares were mostly lower on Wednesday following another volatile day on Wall Street, as traders braced for updates on inflation and corporate earnings.  Benchmarks fell in Tokyo, Shanghai and Hong Kong but rose in Sydney.




					apnews.com
				




Wall Street ends mostly lower after another volatile day​By DAMIAN J. TROISE and ALEX VEIGA

Another volatile run on Wall Street left stocks lower Tuesday, extending the market’s recent losses as traders brace for updates on inflation and corporate earnings.

The S&P 500 fell 0.7%, marking its fifth straight loss. The benchmark index had been down as much as 1.2% in the early going after a dour forecast from the International Monetary Fund stoked recession fears. It then gained as much as 0.8% before a late-afternoon reversal.

The Nasdaq composite also slid back into the red, ending 1.1% lower. The Dow Jones Industrial Average shed most of a 1.2% gain to finish 0.1% higher.

The major indexes came into the day with four straight losses. Recession fears have been weighing heavily on markets as stubbornly hot inflation burns businesses and consumers. Economic growth has been slowing as consumers temper spending and the Federal Reserve and other central banks raise interest rates

The International Monetary Fund on Tuesday cut its forecast for global economic growth in 2023 to 2.7%, down from the 2.9% it had estimated in July. The cut comes as Europe faces a particularly high risk of a recession with energy costs soaring amid Russia’s invasion of Ukraine.

Wall Street is closely watching the Federal Reserve as it continues to aggressively raise its benchmark interest rate to make borrowing more expensive and slow economic growth. The goal is to cool inflation, but the strategy carries the risk of slowing the economy too much and pushing it into a recession

“The market desperately wants a reason for the Fed to be able to stop tightening and the data recently hasn’t given them that opening with respect to inflation,” said Willie Delwiche, investment strategist at All Star Charts.

The S&P 500 fell 23.55 points to 3,588.84, and the Nasdaq dropped 115.91 points to 10,426.19. The Dow added 36.31 points to close at 29,239.19.

Technology accounted for a big share of the decline among S&P 500 companies. Chipmakers continued slipping in the wake of the U.S. government’s decision to tighten export controls on semiconductors and chip manufacturing equipment to China. Qualcomm fell 4%.

Banks and communication stocks also weighed on the market, keeping gains in health care and household goods makers in check

Smaller company stocks fared better than the broader market. The Russell 2000 index rose 1 point, or about 0.1%, to 1,692.92.

Markets in Europe and Asia slipped. 

Uber fell 10.4% and Lyft slumped 12% following a proposal by the U.S. government that could give contract workers at ride-hailing and other gig economy companies full status as employees.

U.S. crude oil prices fell 2%.

Bond yields were mixed. The yield on the 10-year Treasury, which influences mortgage rates, rose to 3.93% from 3.88% late Friday. The yield on the 2-year Treasury, which follows Federal Reserve action, held steady at 4.30%. Bond markets were closed on Monday for a holiday.

The Fed will release minutes from its last meeting on Wednesday, possibly giving Wall Street more insight into its views on inflation and next steps

Investors still expect the Fed to raise its overnight rate by three-quarters of a percentage point next month. It would be the fourth such increase, which is triple the usual amount, and bring the rate up to a range of 3.75% to 4%. It started the year at virtually zero.

The government will also release its report on wholesale prices Wednesday, which will help provide more details on how inflation is hitting businesses. The closely watched report on consumer prices will be released on Thursday and a report on retail sales is due Friday.

“Everyone is still hoping that every inflation report will be the one that shows that presure is alleviating,” Delwiche said.

Wall Street is also gearing up for the start of the latest corporate earnings reporting season, which could provide a clearer picture of inflation’s impact, while also raising questions about whether the Fed should continue with its aggressive rate hikes.

Among the companies reporting quarterly results this week: PepsiCo, Delta Air Lines and Domino’s Pizza. Banks, including Citigroup and JPMorgan Chase, will also report results






The S&P 500 fell 0.7%, marking its fifth straight loss. The benchmark index had been down as much as 1.2% in the early going after a dour forecast from the International Monetary Fund stoked recession fears. It then gained as much as 0.8% before a late-afternoon reversal.

The Nasdaq composite also slid back into the red, ending 1.1% lower. The Dow Jones Industrial Average shed most of a 1.2% gain to finish 0.1% higher.

The S&P 500 fell 23.55 points to 3,588.84, and the Nasdaq dropped 115.91 points to 10,426.19. The Dow added 36.31 points to close at 29,239.19


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## bigdog

Asian stocks fall ahead of US inflation update
					

BEIJING (AP) — Asian stock markets fell Thursday ahead of an update on U.S. inflation that investors worry will reinforce the Federal Reserve's plans for more aggressive interest rate hikes. Shanghai, Tokyo, Hong Kong and Seoul.




					apnews.com
				




Late slide sends Wall Street lower in more uncertain trading​By DAMIAN J. TROISE and ALEX VEIGA

A wobbly day of trading on Wall Street ended with a modest pullback for stocks Wednesday as investors weighed a report showed that inflation remains very hot, likely paving the way for more aggressive interest rate hikes by the Federal Reserve.

A late-afternoon drop erased tentative gains that the major stock indexes had been clinging to for much of the day. The S&P 500 ended 0.3% lower, its sixth consecutive loss. The Dow Jones Industrial Average and the Nasdaq composite each slipped 0.1%.

Treasury yields, which have driven much of Wall Street’s recent trading, ended lower. The yield on the 10-year Treasury, which affects mortgage rates, fell to 3.90% from 3.95% late Tuesday. The yield on the 2-year Treasury slipped to 4.28% from 4.30%.

The market remained choppy following the afternoon release of the minutes from the Fed’s last interest rate policy meeting. The minutes underscored the central bank’s commitment to taming “unacceptably high” inflation. At the conclusion of that meeting last month, the Fed announced a hefty interest rate hike and signaled more large rate increases ahead

“The Fed minutes didn’t contain a lot of new information, but they did reiterate their intention to erring on the side of doing too much, rather than too little,” said Chris Zaccarelli, chief investment officer at the Independent Advisor Alliance

The S&P 500 fell 11.81 points to 3,577.03. The benchmark index is down about 25% so far this year and is close to its lowest point in nearly two years.

The Dow dropped 28.34 points to 29,210.85, while the Nasdaq slipped 9.09 points to 10,417.10. The indexes are on pace for a weekly loss.

Utilities, technology companies and health care stocks weighed on the market, keeping gains elsewhere in check. Duke Energy fell 4%, Texas Instruments slid 1.2% and Abbott Laboratories closed 1.6% lower.

PepsiCo rose 4.2% after raising its profit forecast for the year following encouraging quarterly financial results.

Cruise line operators were among the biggest gainers in the S&P 500. Carnival rose 10.1%, Norwegian Cruise Line gained 11.6% and Royal Caribbean climbed 11.5%.

Small company stocks also lost ground. The Russell 2000 index fell 5.15 points, or 0.3%, to 1,687.76

Markets have been volatile all week as investors wait for the latest round of big company earnings reports and fresh reports on inflation and retail sales.

A report from the government showed that inflation at the wholesale level eased last month, though it was a bit worse than economists expected. A more closely watched component of the inflation data matched economists’ forecasts.

Inflation updates are being closely watched by investors who worry that stubbornly high prices on everything from food to clothing could lead to a recession. Those worries have been worsened by central banks around the world raising interest rates to make borrowing more expensive and slow economic growth.

The Federal Reserve has been particularly aggressive, and its strategy carries the risk of stalling an already slowing economy and causing a recession

In the minutes from the central bank’s Sept. 20-21 meeting, Fed policymakers judged that a “softening of the labor market” — likely including higher unemployment — would be needed to curb the nation’s inflationary pressures. They noted that hiring remained “robust,” which itself fuels high inflation as wages rise sharply.

A closely watched report on consumer prices is due Thursday and data on retail sales for September is due Friday. Both reports could help give Wall Street a clearer picture of where prices remain hottest and how consumers are reacting.

The corporate earnings season begins in earnest this week. Domino’s Pizza and Walgreens will report their results on Thursday. Big banks, including Citigroup and JPMorgan Chase, will report results on Friday.

The British pound weakened against the U.S. dollar after the governor of the Bank of England, Andrew Bailey, confirmed the bank will not extend beyond Friday an emergency debt-buying plan introduced last month to stabilize financial markets.

Markets in Europe mostly fell.

The U.S. dollar has been gaining strength relative to other currencies amid increased recession fears. The Japanese yen declined to a 24-year low against the U.S. dollar to 146 yen-levels, raising expectations of an intervention to prop up the yen following one such move in September





The S&P 500 fell 11.81 points to 3,577.03. The benchmark index is down about 25% so far this year and is close to its lowest point in nearly two years.

The Dow dropped 28.34 points to 29,210.85, while the Nasdaq slipped 9.09 points to 10,417.10. The indexes are on pace for a weekly loss.


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## bigdog

Asian stocks gain after Wall St rebounds from inflation jolt
					

BEIJING (AP) — Asian stock markets surged Friday after Wall Street rebounded from a slump caused by worse-than-forecast inflation numbers. Japan's market benchmark soared by an unusually wide margin of 3.4%.




					apnews.com
				




Stocks mount biggest comeback in years; S&P 500 jumps 2.6%​By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Wall Street staged its biggest comeback in years Thursday, as stocks roared back from steep morning losses caused by a worse-than-expected report on inflation.

The S&P 500 jumped to a gain of 2.6%, a stunning reversal after earlier being down as much as 2.4% and touching its lowest level in nearly two years. The Dow Jones Industrial Average swung more than 1,500 points from its low to its high. The turnarounds were the biggest for each index since March 2020.

Other markets around the world likewise veered sharply from losses to gains, while analysts offered possible reasons for the reversal but little that was concrete.

Besides stocks, prices also initially tumbled for bonds and cryptocurrencies in the knee-jerk reaction to a disappointing report from the U.S. government, which showed inflation is spreading more widely across the economy. One component that’s closely followed by policy makers and investors accelerated to its hottest level in 40 years.

That forced investors to brace for continued, big hikes to interest rates by the Federal Reserve to get inflation under control, and the potential recession those moves could create. The Dow Jones Industrial Average fell as many as 549 points shortly after the report’s release, and the Nasdaq was down as much as 3.2%

The slump didn’t last. Stocks shot up, driving the Dow up 827.87 points, or 2.8%, at 30,038.72. The Nasdaq climbed 232.05 points, or 2.2%, at 10,649.15. The benchmark S&P 500, which was briefly up 3%, rose 92.88 points to 3,669.91. The gains ended a six-day losing streak for the S&P 500 and Nasdaq.

Smaller company stocks also rallied after an initial slide. The Russell 2000 rose 40.65 points, or 2.4%, to close at 1,728.41.

“Anybody who had a hope of a pivot or a pause or a slowing in Fed policy tightening for the next meeting, that’s been dashed today,” said Liz Young, chief investment strategist at SoFi. “I literally can’t even wrap my head around what the logic would be to buy (stocks) on any change in Fed policy.”

Stocks in Europe also flipped from losses caused by the U.S. inflation data, while Treasury yields pulled back a little from their initial surge. The value of the U.S. dollar against other currencies sank after initially jumping.

They’re the latest jagged, back-and-forth moves for markets, which have been swinging sharply due to all the uncertainties about economies around the world and how badly higher interest rates will hurt them.

Analysts said some data points buried deep within the inflation report may be offering hope that inflation is on its way to marking a peak and then easing, even though current conditions look dour. Others said technical reasons could also be helping to support markets, as some investors closed out of trades betting on declines following the inflation report.

“Hopefully it’s because people have dug into the details of the inflation report and noticed a few signs that we could get inflation relief by the end of the year,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments

“Markets have talked themselves off a ledge, so to speak, and they’re a bit more hopeful,” said Kristina Hooper, chief global markets strategist at Invesco.

Young noted that the drop in the dollar relative to other currencies, like the British pound, could be a tailwind for stocks, but not enough to cause such a sharp turnaround in the market.

“It’s nonsensical to me that the market would be up so strongly,” she said.

Most investors came into the morning already expecting the Fed to hike its key overnight interest rate by three-quarters of a percentage point next month, which would be its fourth straight hike that was triple the usual size.

But Thursday’s disappointing data caused some investors to expect a fifth such increase in December, dashing hopes that the Fed may begin downshifting soon. Bets increased for the Fed to pull its overnight rate above 5% by early next year. The federal funds rate started this year at virtually zero

Higher rates make buying a house, car or anything else purchased on credit more expensive, and the hope is that will slow the economy and job market enough to undercut inflation. But higher rates take a notoriously long time to take full effect, and the Fed risks causing a recession if it ends up going too far.

As the day progressed, and investors had more time to dig into the inflation report’s details, though, analysts said they perhaps saw some glimmers of hope. Even though what’s called “core” inflation accelerated last month, overall inflation including food and energy prices slowed by a touch.

The overall Consumer Price Index, also called CPI, was 8.2% higher in September than a year earlier, versus August’s 8.3% inflation.

“If you’re at least starting to see headline CPI cool, there’s hope that core CPI will follow,” Hooper said. “There’s definitely that thought process coming in.”

Quincy Krosby, chief global strategist at LPL Financial, said, “There’s a view that because CPI is a lagging indicator, the higher rates will increasingly slow down the economy and inflation will recede at a faster clip.”

Treasury yields pulled back a bit from their initial, early-morning leaps, lessening a bit of the pressure on stocks.

The yield on the 10-year Treasury, which helps set rates for mortgages and many other loans, rose to 3.96% from 3.90% late Wednesday. Earlier in the day, it topped 4%.

The two-year yield, which moves more on expectations for Fed action, rose to 4.48% from 4.29%. It crossed above 4.50% earlier in the morning.

Higher yields amp up the pressure on the economy not only by making loans more expensive and slowing growth. They also drag down prices for stocks, cryptocurrencies and nearly every other investment because they mean bonds are paying more in interest, which pulls some dollars away from other investments.

Investments seen as the riskiest, the most expensive or forcing investors to wait the longest for big growth have been the ones hit hardest by this year’s rise in rates






The S&P 500 jumped to a gain of 2.6%, a stunning reversal after earlier being down as much as 2.4% and touching its lowest level in nearly two years. The Dow Jones Industrial Average swung more than 1,500 points from its low to its high. The turnarounds were the biggest for each index since March 2020.

Stocks shot up, driving the Dow up 827.87 points, or 2.8%, at 30,038.72. The Nasdaq climbed 232.05 points, or 2.2%, at 10,649.15. The benchmark S&P 500, which was briefly up 3%, rose 92.88 points to 3,669.91. The gains ended a six-day losing streak for the S&P 500 and Nasdaq.


----------



## CityIndex

Volatility after the US CPI report was always to be expected, but not like that... 

With an over 5% swing on the day, Thursday's session should go down as one of the most volatile on record. It's unclear what sparked the sharp reversal, but looking at how support kicked-in and prevented the S&P500 from building on its move below the major psychological level of 3500, the most likely explanation for the overnight price action could be a short-covering rally as the strong breakdown bears had been eyeing failed to materialise. 

All trading carries risk, but it will be interesting to see if this bullish momentum continues into the weekend and we get a countertrend bounce over the near-term, or if this was just a brief pause before the next round of selling.


----------



## bigdog

Stocks fall broadly on Wall Street as inflation worries grow
					

More worries about inflation helped spur a broad slide for stocks Friday that left most of the major indexes on Wall Street in the red for the week and wiped out much of the market's gains from a strong rally a day earlier.




					apnews.com
				




Stocks fall broadly on Wall Street as inflation worries grow​By DAMIAN J. TROISE and ALEX VEIGA

More worries about inflation helped spur a broad slide for stocks Friday that left most of the major indexes on Wall Street in the red for the week and wiped out much of the market’s gains from a strong rally a day earlier.

A report showing U.S. consumers raised their expectations for future inflation hurt markets worldwide, offering another signal the Federal Reserve may have to continue aggressively hiking interest rates to temper stubbornly hot inflation. The strategy raises the risk of a recession.

The S&P 500 fell 2.4% after having been up as much as 1.2% in the early going. The Dow Jones Industrial Average fell 1.3% and the Nasdaq composite ended 3.1% lower. Both indexes also turned lower after marching higher in early trading.

Trading has been unsettled all week and was especially volatile on Thursday after a government report showed that inflation remains very hot. Major U.S. indexes staged their biggest comeback in years on Thursday in a reversal from steep morning losses

“I don’t think that (the rally) technically or fundamentally means anything because a whole lot hasn’t changed,” said Sylvia Jablonski, chief investment officer at Defiance ETFs. “I don’t think we’re likely to see any sense of direction or stability in the near term.”

Investors have been looking for any sign that could allow the Fed to eventually ease up on its interest rate increases. Fed Chair Jerome Powell has said Americans’ expectations for future inflation plays a big role in setting interest rates, because a runaway there could create a much more dangerous, self-fulfilling spiral.

The central bank has already raised its benchmark interest rate five times this year, with the last three increases by three-quarters of a percentage point. Wall Street expects another raise of three-quarters of a percentage point at its next meeting in November.

Inflation, though cooling in some areas of the economy, remains stubbornly hot overall. A survey from the University of Michigan on Friday showed that consumers raised their expectations for future inflation. It also showed that overall consumer confidence remains surprisingly strong despite high prices on a wide range of goods.

“Core inflation is running at levels that are too high, and the University of Michigan’s numbers today show that it is starting to feed into consumers’ expectations, and that’s almost exactly to a ‘T’ what the Fed would like to avoid,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

The S&P 500 fell 86.84 points to 3,583.07. The Dow dropped 403.89 points to 29,634.83. The Nasdaq slid 327.76 points to close at 10,321.39.

Small company stocks also fell sharply. The Russell 2000 gave up 46.01 points, or 2.7%, to close at 1,682.40.

Bond yields rose after the Michigan report. The yield on the 10-year Treasury, which influences mortgage rates, rose to 4.02% from 3.86% shortly before the report came out. It’s trading near its highest level since 2008.

The yield on the 2-year Treasury, which tends to track expectations for future Fed action, rose to 4.51% from 4.40% just before the report came out

Investors also focused on the latest earnings reports for more clues about how companies are dealing with inflation.

Several big banks were bright spots in the market. JPMorgan Chase rose 1.7% after reporting earnings and revenue that topped Wall Street forecasts. Wells Fargo rose 1.9% after it reported strong revenue.

UnitedHealth Group rose 0.6% after raising its profit forecast for the year.

More than 90% of the stocks in the S&P 500 closed in the red. Technology stocks were biggest weights on the index. Chipmaker Nvidia fell 6.1%.

U.S. crude oil prices fell 3.9% and weighed down energy stocks. Chevron fell 3.1%.

Markets in Europe closed higher after British Prime Minister Liz Truss has abandoned a planned cut to corporation taxes, scrapping a key part of an economic plan that set off weeks of market and political turmoil.

A government report showed that the pace of sales at U.S. retailers was unchanged in September from August as rising prices for rent and food chipped away at money available for other things. The report was worse than economists anticipated


----------



## bigdog

The S&P 500 fell 2.4% after having been up as much as 1.2% in the early going. The Dow Jones Industrial Average fell 1.3% and the Nasdaq composite ended 3.1% lower. Both indexes also turned lower after marching higher in early trading.

The S&P 500 fell 86.84 points to 3,583.07. The Dow dropped 403.89 points to 29,634.83. The Nasdaq slid 327.76 points to close at 10,321.39.


----------



## bigdog

Asian shares mostly gain after rally on Wall Street
					

BANGKOK (AP) — Stocks were mostly higher in Asia on Tuesday after Wall Street rallied in its latest about-face in recent topsy-turvy trading. Oil prices and U.S. futures advanced and the dollar was trading near 149 Japanese yen.




					apnews.com
				




Stocks rally on Wall Street in latest volatile move​By DAMIAN J. TROISE and ALEX VEIGA

Wall Street kicked off a busy week of corporate earnings with a broad rally Monday, the latest about-face for a market that has been unsteadily lurching between gains and losses in recent weeks.

The S&P 500 climbed 2.6%, more than recovering the ground it lost in a sell-off Friday. The Dow Jones Industrial Average rose 1.9% and the Nasdaq composite added 3.4%.

Nearly all of the stocks in the benchmark S&P 500 index rose, with technology and communications companies among the biggest gainers. Apple climbed 2.9% and Google’s parent company rose 3.7%.

Bond yields eased back from their multiyear highs and took some pressure off of stocks. The yield on the 10-year Treasury, which influences mortgage rates, held steady at 4.02%. The yield on the 2-year Treasury, which tends to track expectations for future Federal Reserve action, fell to 4.46% from 4.50% late Friday.

U.K. government bonds rallied following news that the country’s new Treasury chief was abandoning nearly all of a series of unfunded tax cuts that had upset markets. Markets in Europe closed broadly higher and most markets in Asia gained ground. The price of U.S. crude oil edged lower

The broader market is coming off an extremely volatile week that closed with most major indexes in the red. Including Monday, the S&P 500 has posted gains or losses of 2% or more six times so far this month

“These are the kinds of things that you do see in a bear market,” said Tom Martin, senior portfolio manager with Globalt Investments. “Clearly, the markets are not well balanced because you’re getting this much volatility in stocks and bonds.”

The S&P 500 rose 94.88 points to 3,677.95. The Dow gained 550.99 points to 30,185.82, while the Nasdaq added 354.41 points to 10,675.80.

Traders also bid up small company stocks. The Russell 2000 index rose 53.35 points, or 3.2%, to 1,735.75.

The indexes remain sharply lower from where they were at the beginning of this year. The S&P 500 and Russell are down more than 22%, while the Nasdaq has slumped more than 31%. The Dow is off nearly 17%.

Investors are worried about hot Inflation and the potential for a recession to hit the U.S. and global economy. The big concern is the Fed’s aggressive policy to raise interest rates to cool inflation, which could go too far and slow the economy so much that it slips into a recession

Wall Street turns its focus this week to the latest round of corporate financial results. The earnings reports and financial updates could help give investors a clearer picture of how companies and consumers have been dealing with inflation. Investors will also be listening closely to any statements from corporate leaders focusing on inflation’s potential path ahead and the forecasted impact on business.

On Monday, Bank of America CEO Brian Moynihan told analysts during a conference call following the release of the company’s latest quarterly results that high inflation and worries of a recession haven’t slowed spending on the part of the lender’s customers. Moynihan noted that spending increased on an annual basis by 12% through the first nine months of the year. He added that the number of transactions were up from a year ago

Several major airlines, which could see some turbulence in their finances if inflation hits consumers’ travel spending, will report earnings this week. United Airlines releases its results on Tuesday, followed by American Airlines on Thursday.

Other big names reporting earnings this week include Johnson & Johnson, Netflix, Union Pacific and American Express.

Several companies gained ground Monday on a mix of specific corporate news. Oil producer Continental Resources jumped 8.7% after saying it will be taken private as part of a deal with founder Harold G. Hamm.

Investment bank Credit Suisse rose 3.6% after agreeing to pay $495 million as part of a settlement in a dispute with the U.S. over mortgage-backed securities.





The S&P 500 climbed 2.6%, more than recovering the ground it lost in a sell-off Friday. The Dow Jones Industrial Average rose 1.9% and the Nasdaq composite added 3.4%

The S&P 500 rose 94.88 points to 3,677.95. The Dow gained 550.99 points to 30,185.82, while the Nasdaq added 354.41 points to 10,675.80.


----------



## bigdog

Asia stocks mixed after Wall St rises on corporate profits
					

BEIJING (AP) — Asian stock markets were mixed Wednesday after Wall Street rose on strong corporate profit reports. Tokyo advanced while Shanghai and Hong Kong declined. The yen stayed near a two-decade low near 149 to the dollar.




					apnews.com
				




Stocks climb on Wall Street as investors focus on earnings​By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed broadly higher again on Wall Street Tuesday, adding to weekly gains for major indexes that have been mired in a broad slump amid inflation and recession concerns.

The S&P 500 rose 1.1%, with roughly 90% of the stocks in the benchmark index notching gains. The Dow Jones Industrial Average rose 1.1% and the Nasdaq composite ended 0.9% higher.

Trading was choppy, at one point pulling the Nasdaq into the red as technology stocks lost ground then rallied by the end of the day. It was the latest knee-jerk motion in a market that has been moving erratically in recent weeks. Major indexes are still stuck in a bear market, which is when they’ve fallen at least 20% from their most recent all-time highs.

“High volatility is normal around the bottom of a bear market,” said Jeff Buchbinder, chief equity strategist for LPL Financial. “One reason we may be seeing markets hang in there a little bit better is that the narrative has switched to earnings from inflation and the Federal Reserve.”

The S&P 500 rose 42.03 points to 3,719.98. The Dow added 337.98 points to close at 30,523.80, and the Nasdaq gained 96.60 points to 10,772.40.

Small company stocks also rose. The Russell 2000 index added 20.20 points, or 1.2%, to 1,755.96

Bond yields were mixed. The yield on the 10-year Treasury, which influences mortgage rates, slipped to 3.99% from 4.01% late Monday. The yield on the 2-year Treasury, which tends to track expectations for future Federal Reserve action, also fell to 4.43% from 4.45%.

Investors are primarily focusing on the latest round of corporate earnings this week, given there’s little economic data expected. Investment bank Goldman Sachs rose 2.3% after delivering results that beat estimates, which helped lift shares in other lenders. Banks have been rallying since Friday, when several reported strong quarterly results.

Lockheed Martin jumped 8.7% after reporting strong third-quarter earnings. That gave other defense stocks a boost. General Dynamics rose 3.8%, Northrop Grumman gained 6.7% and Raytheon Technologies added 3.4%.

Streaming sports service FuboTV rose 1.7% after giving investors an encouraging third-quarter update.

Health care giant Johnson & Johnson slipped 0.3% after reporting solid financial result s, but a narrowed forecast as it deals with a strong U.S. dollar cutting into sales outside the U.S.

Netflix surged 14.5% in after-hours trading after its latest quarterly results topped Wall Street’s forecasts. The streaming giant also reported an increase of 2.4 million subscribers during the July-September quarter. The stock fell 1.7% during regular trading before the company released its earnings. Its shares have lost more than half their value so far this year.

American Airlines, Union Pacific and American Express will report their results later this week.

Corporate earnings are the latest pieces of information Wall Street can use to try and get a better sense of the economy’s path ahead amid stubbornly hot inflation and growing recession fears. The Federal Reserve has been raising interest rates in an effort to make borrowing more difficult and slow economic growth. The goal is to hit the brakes on the economy just enough to tame inflation, but the strategy risks slowing the economy too much and causing a recession

“You have to stomach some volatility in the near term, but inflation is coming down,” Buchbinder said. “Work by the Fed and the markets has really improved the inflation outlook from here, if you can look three to six months out.”

Inflation has been cooling in some areas of the economy, but remains stubbornly hot. That has prompted the Fed to remain on track with its plan to continue increasing rates. The central bank has already raised its benchmark interest rate five times this year, with the last three increases by three-quarters of a percentage point. Wall Street expects another raise of three-quarters of a percentage point at its next meeting in November.





The S&P 500 rose 1.1%, with roughly 90% of the stocks in the benchmark index notching gains. The Dow Jones Industrial Average rose 1.1% and the Nasdaq composite ended 0.9% higher.

The S&P 500 rose 42.03 points to 3,719.98. The Dow added 337.98 points to close at 30,523.80, and the Nasdaq gained 96.60 points to 10,772.40.


----------



## bigdog

Asian shares fall after weak earnings pull Wall St lower
					

BANGKOK (AP) — Asian shares were mostly lower on Thursday after Wall Street benchmarks fell, reversing course after two days of gains.  Wall Street futures were lower while oil prices were mixed.




					apnews.com
				




Stocks lose ground as more earnings roll in; yields rise​By DAMIAN J. TROISE and ALEX VEIGA

A broad slide on Wall Street reversed two days of gains for stocks Wednesday, as Treasury yields climbed to multiyear highs, tempting traders with higher returns on relatively low-risk investments.

The pullback came as investors reviewed a mix of quarterly reports from several companies. Netflix and United Airlines rose sharply after releasing their quarterly results, while others, including Abbott Laboratories and M&T Bank, sank.

Major indexes rose in the early going, but their gains faded fast. The S&P 500 fell 0.7%, the Dow Jones Industrial Average slipped 0.3% and the Nasdaq composite ended 0.9% lower. Small companies fell more than the rest of the market, sending the Russell 2000 index 1.7% lower.

Stocks were coming off of two days of gains, but trading has been unsteady throughout.

“Today was interesting in that it was almost a back-to-reality check for the market,” said Quincy Krosby, chief equity strategist for LPL Financial. “Not only were the yields higher, you also had the dollar much stronger today, and that’s a recipe for difficulties for the market.”

The yield on the 10-year Treasury, which influences mortgage rates, climbed to 4.13%, its highest level since June 2008. It was at 4.02% late Tuesday. The yield on the two-year Treasury, which tends to track expectations for future Federal Reserve action, rose to 4.54% from 4.43%

A sharp move in the three-month Treasury may have helped put traders in a selling mood. The yield briefly hit 4.01% before inching back to 3.98%. Should the three-month Treasury yield rise above that of the 10-year Treasury, what’s known as an inversion, that would be a strong warning that the economy could be headed for a recession.

“It takes a while for the three-month (Treasury) to invert, but it’s getting ever so closer to the 10-year,” Krosby said.

The S&P 500 fell 24.82 points to 3,695.16. The Dow lost 99.99 points to close at 30,423.81. The Nasdaq dropped 91.89 points to 10,680.51. The Russell 2000 gave up 30.20 points to 1,725.76.

Homebuilders and other housing industry-related companies fell Wednesday following a report showing that construction on new homes declined more than expected in September. Homebuilder Lennar fell 6% and home-improvement retailer Lowe’s slid 4.8%.

U.S. crude oil prices rose 3.3%, giving a boost to energy stocks. Exxon Mobil rose 3%. The White House plans to announce another release of oil from the U.S. strategic reserve.

Investors have been focusing on the latest round of corporate earnings this week. The latest results are being closely watched for clues about how companies are dealing with the hottest inflation in four decades and how they intend to operate through the rest of the year and into 2023.

Netflix soared 13.1% after the company said it picked up 2.4 million subscribers during the July-September period, a comeback from a loss of 1.2 million customers during the first half of the year.

United Airlines rose 5% after reporting strong third-quarter financial results. American Airlines will report its results on Thursday.

Household goods giant Procter & Gamble rose 0.9% after also reporting strong financial results. It joined a growing list of companies, including Hasbro and Johnson & Johnson, warning investors about a strong U.S. dollar cutting into revenue. A strong dollar decreases the value of overseas sales after converting the currency. The U.S. currency is now worth more than a euro for the first time in 20 years.

The dollar has gained strength versus currencies worldwide as inflation and recession concerns prompt investors to look for relatively stable investments. Central governments and banks worldwide are dealing with stubbornly hot inflation. British food prices rose at the fastest pace since 1980 last month, driving inflation back to a 40-year high.

The U.S. faces its own potential recession as high prices on everything from food to clothing barely budge and the Fed raises interest rates to temper inflation.

The Fed’s rate increases are meant to make borrowing more difficult and slow economic growth in an effort to tame inflation. The strategy risks stalling the already slowing U.S. economy and bringing on a recession.

“That’s the game of chicken that’s going on,” said Steve Chiavarone, senior portfolio manager at Federated Hermes. “The Fed can only restore price stability by hurting demand, i.e. causing a recession.”






Major indexes rose in the early going, but their gains faded fast. The S&P 500 fell 0.7%, the Dow Jones Industrial Average slipped 0.3% and the Nasdaq composite ended 0.9% lower. Small companies fell more than the rest of the market, sending the Russell 2000 index 1.7% lower.

The S&P 500 fell 24.82 points to 3,695.16. The Dow lost 99.99 points to close at 30,423.81. The Nasdaq dropped 91.89 points to 10,680.51. The Russell 2000 gave up 30.20 points to 1,725.76.


----------



## bigdog

Asian shares mixed as investors keep eyes on inflation
					

TOKYO (AP) — Asian shares were mostly lower Friday in muted trading, as investors kept an eye on inflation. Benchmarks fell in Tokyo, Seoul, Sydney and Hong Kong but rose in Shanghai and Mumbai.




					apnews.com
				




Stocks give up an early gain and close lower on Wall Street​By DAMIAN J. TROISE and ALEX VEIGA

Stocks on Wall Street lost ground again Thursday, though the major indexes remained on pace for a weekly gain after a strong two-day rally earlier this week.

The S&P 500 fell 0.8%. Nearly three-fourths of the stocks in the benchmark index closed in the red, with retailers, banks and industrial companies among the biggest weights. The Dow Jones Industrial Average slipped 0.3% and the Nasdaq composite fell 0.6%. Small company stocks fell more than the broader market, pulling the Russell 2000 index 1.2% lower.

Treasury yields continued rising to multiyear highs, a trend that’s helped push up rates on mortgages and other loans. The yield on the 10-year Treasury climbed to 4.23% from 4.14% late Wednesday and is at its highest level in 14 years. The yield on the two-year Treasury, which tends to track expectations for future Federal Reserve action, rose to 4.61% from 4.56%.

Corporate earnings remained a big focus for Wall Street all week as investors try to get a better picture of how companies are faring amid the hottest inflation in four decades and how they see the economy moving forward

The results have been mixed so far. Several big companies released encouraging financial results, while others have disappointed investors with weak or worrisome warnings

“Earnings growth estimates for the current quarter are coming in 3.6% higher than they were a year ago,” said Bill Northey, senior investment director at U.S. Bank Wealth Management. “Just a matter of months ago, the expectations were for 10% earnings growth in the third quarter. So there has been a material downgrade to the level of expected earnings growth this year.”

IBM rose 4.7% after its third-quarter earnings and revenue topped analysts’ forecasts. AT&T jumped 7.7% after also reporting strong results.

Tesla fell 6.6% after saying it will miss its target for vehicle deliveries this year. Union Pacific dropped 6.8% after the railroad operator predicted slower growth, suggesting that the economy may be slowing down. Rival CSX fell 3%. American Airlines fell 3.8% after reporting its latest results.

Allstate slumped 12.9% after giving investors a disappointing financial update.

All told, the S&P 500 fell 29.38 points to 3,665.78. The Dow lost 90.22 points to close at 30,333.59. The Nasdaq dropped 65.66 points to 10,614.84. The Russell 2000 fell 21.36 points, to 1,704.39.

Markets in Europe closed higher. British Prime Minister Liz Truss resigned following financial market turmoil caused by multiple policy U-turns.

Investors remain concerned about inflation and the potential for recessions throughout world. Wall Street is particularly worried about the Fed’s ongoing plan to raise interest rates in order to slow economic growth and tame high prices. The U.S. economy is already showing signs of a slowdown and the Fed’s plan risks stalling the economy and causing a recession.

The employment market has remained a strong area of the economy, along with consumer spending. The latest government data showed that the number of Americans applying for unemployment benefits fell last week and remains historically low

The healthy jobs market has been a tricky sticking point for the broader economy. While positive, it also signals that the Fed will have to remain aggressive in raising interest rates. Fed officials have warned that the unemployment rate will likely have to rise as part of their fight against rising prices.

The central bank has raised its key interest rate to a range of 3% to 3.25%. A little more than six months ago, that rate was near zero. The rate increases have been putting pressure on other areas of the economy, including the housing market.

The sharp rate increases have pushed mortgage rates up to 15-year highs. Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate ticked up this week to 6.94% from 6.92% last week. Last year at this time, the rate was 3.09%.

Higher mortgage rates are helping stall a housing sector that has been hot for years. The National Association of Realtors said Thursday that sales of previously occupied U.S. homes fell in September for the eighth month in a row.

Homebuilders fell broadly following the latest housing and mortgage rates reports. PulteGroup fell 1.5%





The S&P 500 fell 0.8%. Nearly three-fourths of the stocks in the benchmark index closed in the red, with retailers, banks and industrial companies among the biggest weights. The Dow Jones Industrial Average slipped 0.3% and the Nasdaq composite fell 0.6%. Small company stocks fell more than the broader market, pulling the Russell 2000 index 1.2% lower.

All told, the S&P 500 fell 29.38 points to 3,665.78. The Dow lost 90.22 points to close at 30,333.59. The Nasdaq dropped 65.66 points to 10,614.84. The Russell 2000 fell 21.36 points, to 1,704.39.


----------



## bigdog

Stocks end higher on Wall Street, notching weekly gains
					

Wall Street capped a volatile run for stocks with a broad rally Friday, contributing to sizable weekly gains for major indexes. The S&P 500 rose 2.4% and notched its biggest weekly gain since June.




					apnews.com
				




Stocks end higher on Wall Street, notching weekly gains​By DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped a volatile run for stocks with a broad rally Friday, contributing to sizable weekly gains for major indexes.

The S&P 500 rose 2.4% and notched its biggest weekly gain since June. The Dow Jones Industrial Average rose 2.5% and the Nasdaq composite ended 2.3% higher.

More than 90% of the stocks in the benchmark S&P 500 index rose. Technology stocks, retailers and health care companies powered a big share of the rally. Oracle rose 5%, Home Depot added 2.3% and Pfizer rose 4.8%.

Social media companies fell broadly after Snapchat’s parent company issued a weak forecast and the Washington Post reported that Elon Musk plans to slash about three-quarters of the payroll at Twitter after he buys the company. Snap slumped 28.1% and Twitter shed 4.9%.

Markets have been unsettled in recent days, as stocks lurched from sharp gains early in the week to losses later in the week. The market appeared headed for another sell-off early Friday, then reversed course amid fresh signals from the Federal Reserve that it may consider easing up on its aggressive pace of interest rate hikes as it tries to bring down inflation.

“The hope is that they at least slow down,” Jay Hatfield, CEO of Infrastructure Capital Advisors

The Fed is expected to raise interest rates another three-quarters of a percentage point at its upcoming meeting in November. Markets have been unsettled partly because investors have been hoping that any sign of inflation easing or economic growth slowing could signal that the Fed will ease up on its rate increases, which have yet to show any signs of significantly impacting inflation.

Mary Daly, president of the Federal Reserve Bank of San Francisco, said Friday that she’s thinking about the dangers of raising interest rates too high and doing too much damage to the economy.

While the Fed likely isn’t yet ready to start dialing down the size of its rate hikes, she said, “I think the time is now to start talking about stepping down. The time is now to start planning for stepping down.”

If the Fed does come out of its meeting next month with a fourth straight increase of 0.75 percentage points to its key overnight interest rate, as most investors expect, she said: “I would really recommend people don’t take that away as: It’s 75 forever.”

A 0.75 point jump is triple the size of the Fed’s usual move, and the Fed risks creating a recession if it moves too high or too quickly.

Daly’s comments helped push down investors’ expectations for how high the Fed will hike rates through the end of the year. Traders are now pricing in just a 45% chance that the Fed will hike rates by 0.75 percentage points next month and again by the same amount in December.

Just a day ago, they were much more confident about that, pricing in a 75% probability. Instead, traders increasingly see the Fed dialing down to a more modest increase of 0.50 percentage points in December, according to CME Group.

Daly was speaking at meeting of the University of California-Berkeley’s Fisher Center for Real Estate & Urban Economics’ Policy Advisory Board.

Central banks around the world have mostly been raising interest rates to fight inflation and much of the focus has been on the Fed. It has raised its key interest rate to a range of 3% to 3.25%. A little more than six months ago, that rate was near zero.

Even if the Fed does dial down the size of its increases soon, officials at the central bank have also been adamant that they plan to leave rates alone at that high level for a while to continue to slow the economy in hopes of forcing down high inflation.

“The concern is still that bond yields are heading higher and the Fed is not signaling a pivot,” said Ross Mayfield, investment strategist at Baird. “Until there is a meaningful pivot driven by a drop in inflation, it’s a huge headwind to the market.”

Treasury yields, which hit multiyear highs this week on expectations of more Fed rate hikes, eased Friday. The yield on the 10-year Treasury note, which affects mortgage rates, slipped to 4.22% from 4.24% late Thursday. The yield on the two-year Treasury, which tends to track investors’ expectations for Federal Reserve action on interest rates, fell to 4.49% from 4.61%.

Stocks got a boost from the pullback in yields. The S&P 500 rose 86.97 points to 3,752.75. The index posted a 4.7% gain for the week.

The Dow climbed 748.97 points to close at 31,082.56, and the Nasdaq added 244.87 points to 10,859.72.

Small company stocks also gained ground. The Russell 2000 index rose 37.85 points, or 2.2%, to finish at 1,742.24.

Investors have shifted their focus, for now, to the latest round of corporate earnings as they look for more clues about how hot inflation and rising interest rates are shaping the economy. Reports from airlines, banks, railroad operators and others have so far provided mixed financial results and forecasts.

American Express fell 1.7% after setting aside hundreds of millions of dollars to cover potential losses as the economy continues to deteriorate. Railroad CSX rose 1.7% after reporting solid financial results.


----------



## bigdog

The S&P 500 rose 2.4% and notched its biggest weekly gain since June. The Dow Jones Industrial Average rose 2.5% and the Nasdaq composite ended 2.3% higher.

The S&P 500 rose 86.97 points to 3,752.75. The index posted a 4.7% gain for the week.  The Dow climbed 748.97 points to close at 31,082.56, and the Nasdaq added 244.87 points to 10,859.72.


----------



## noirua




----------



## divs4ever

have been CAREFULLY nibbling on gold producers 

 i should probably start betting CAREFULLY  against the US dollar ( and the US markets )


----------



## bigdog

Asian shares mostly higher, tracking Wall Street advance
					

BANGKOK (AP) — Shares advanced Tuesday in Asia after Wall Street shook off an early bout of unsettled trading and ended higher. U.S. futures edged 0.1% higher and oil prices also gained.  Hong Kong’s benchmark Hang Seng gained 0.9% to 15,313.22 after a 6.4% selloff the day before that took it to...




					apnews.com
				




US stocks march higher ahead of tech-heavy earnings week​By DAMIAN J. TROISE and ALEX VEIGA

Stocks shook off a shaky start and closed higher Monday, extending their gains from last week, as investors geared up for a heavy week of earnings from big technology companies.

The S&P 500 rose 1.2%, with technology, health care and financial stocks accounting for a big share of the gains. Only materials and real estate sector stocks fell.

The Dow Jones Industrial Average rose 1.3% and the tech-heavy Nasdaq composite closed 0.9% higher.

Google’s parent company, along with Facebook’s parent, Amazon and Apple are all reporting their latest financial results this week. They are among the priciest stocks in the benchmark S&P 500 and their earnings this week could mean big moves, up or down, for the broader market.

Several big companies outside of the tech sector are also reporting earnings this week, including Coca-Cola, General Motors and Caterpillar.

“In general, the market is sitting back and there are a few data points people are waiting to see,” said Jack Janasiewicz, portfolio manager and lead portfolio strategist at Natixis Investment Managers Solutions

The S&P 500 rose 44.59 points to 3,797.34. The Dow gained 417.06 points to 31,499.62. The Nasdaq rose 92.90 points to 10,952.61.

Small company stocks also rose. The Russell 2000 index added 6.16 points, or 0.4%, to close at 1,748.40.

Bond yields edged higher. The yield on the 10-year Treasury briefly surged to 4.29% before easing to 4.25%. It reached 4.22% late Friday. The yield on the two-year Treasury, which tends to track investors’ expectations for Federal Reserve action on interest rates, rose to 4.50% from 4.48%.

Trading has been volatile this month, but the major indexes are solidly higher entering the last full week of October after a couple of big market rallies last week. The S&P 500 is up 5.9% so far this month, while the Dow is up 9.7%. The Nasdaq is up a more modest 3.6%.

Stocks surged on Friday after after remarks by a Federal Reserve bank president raised hopes among traders that the central bank may consider easing up on its aggressive pace of interest rate hikes as it tries to quell inflation.

Mary Daly, president of the Federal Reserve Bank of San Francisco, said that she’s thinking about the dangers of raising interest rates too high and doing too much damage to the economy. While the Fed likely isn’t yet ready to start dialing down the size of its rate hikes, she said, “I think the time is now to start talking about stepping down. The time is now to start planning for stepping down.”

That optimism likely carried over into Monday’s, helping keep investors in a buying mood, said Sam Stovall, chief investment strategist at CFRA.

“The key is interest rates and the Fed,” he said.

Investors are closely reviewing the latest round of corporate earnings to get a better picture of inflation’s impact on different areas of the economy. Prices on everything from clothing to food remain at their highest levels in four decades. That has put pressure on companies to raise prices and cut costs, while squeezing consumers.

The Federal Reserve and central banks around the world have been raising interest rates in an effort to tame inflation. Interest rate increases have been weighing on pricier stocks, like technology companies, by making less-risky bonds seem more attractive in a volatile stock market.

Higher interest rates have also made borrowing more expensive and have hit the housing market particularly hard. Mortgage buyer Freddie Mac reported on Thursday that the average on the key 30-year rate ticked up to 6.94%. Last year at this time, the rate was 3.09%. The surge in mortgage rates has stalled a housing sector that has been hot for years.

The Fed’s aggressive rate increases have economists and investors worried that the central bank could go too far in slowing the economy and push it into a recession. The U.S. economy is already slowing down and actually contracted during the first half the year. The government will release its third-quarter gross domestic product report on Thursday

The Fed is expected to raise interest rates another three-quarters of a percentage point at its upcoming meeting in November. Markets have been looking for any sign that the central bank is ready to ease up on rate increases.

“The market needs to find that terminal rate,” Janasiewicz said. “Once we get comfortable with that, I think we can start to find some footing.”

Markets in Europe made solid gains. U.K. government bonds rallied as Treasury chief Rishi Sunak became assured of becoming the prime minster, replacing Liz Truss, who quit last week after her tax-cutting economic package caused turmoil in financial markets.

Markets in China tumbled after President Xi Jinping awarded himself another term as leader of the ruling Communist Party. The news roiled U.S. listed shares of some big Chinese companies. Alibaba slumped 12.5% and JD.com fell 13%.

Xi wants a bigger Communist Party role in China’s business and technology development, raising fears about stunted economic growth because of too much centralized control. China’s economy is also still hurting from strict COVID-19 restrictions












The S&P 500 rose 44.59 points to 3,797.34. The Dow gained 417.06 points to 31,499.62. The Nasdaq rose 92.90 points to 10,952.61.

The S&P 500 rose 1.2%, with technology, health care and financial stocks accounting for a big share of the gains. Only materials and real estate sector stocks fell.

The Dow Jones Industrial Average rose 1.3% and the tech-heavy Nasdaq composite closed 0.9% higher.


----------



## bigdog

Asian stocks follow Wall St up on hopes of rate hikes easing
					

BEIJING (AP) — Asian stock markets followed Wall Street higher on Wednesday as hopes rose that the Federal Reserve might ease off plans for interest rate hikes and Britain installed its third prime minister this year.




					apnews.com
				




Stocks end higher on Wall Street as earnings roll in​By DAMIAN J. TROISE and ALEX VEIGA

Wall Street notched more gains Tuesday, as major stock indexes rallied for the third day and Treasury yields fell again.

The S&P 500 rose 1.6%, with roughly 90% of stocks in the index notching gains. The benchmark index hadn’t been able to string together more than two gains in a row since mid-September.

The Dow Jones Industrial Average rose 1.1% and the Nasdaq closed 2.3% higher. Smaller company stocks outpaced the broader market, lifting the Russell 2000 index 2.7% higher.

The latest gains came as bond yields fell significantly, reflecting speculation among investors that the Federal Reserve may begin easing up on its aggressive pace of interest rate increases as soon as this year.

The yield on the 10-year Treasury, which impacts mortgage rates, slipped to 4.09% from 4.23% late Monday. The yield on the two-year Treasury, which tracks Federal Reserve action, fell to 4.45% from 4.50% late Monday

“It seems like the market is saying that they think perhaps longer-term yields have peaked, and that’s providing some optimism to the (stock) market,” said Randy Frederick, managing director of trading & derivatives at Charles Schwab.

The S&P 500 rose 61.77 points to 3,859.11. The Dow added 337.12 points to close at 31,836.74. The Nasdaq gained 246.50 points at 11,199.12. The Russell 2000 picked up 47.76 points, closing at 1,796.16

Technology stocks, retailers and communication companies were among the biggest drivers of Tuesday’s rally. Traders were sizing up a heavy round of earnings reports from big U.S. companies.

General Motors rose 3.6% after delivering solid results. United Parcel Service initially rose, but then slipped 0.3% after the package delivery service beat Wall Street’s third-quarter earnings and revenue forecasts. Paint maker Sherwin-Williams jumped 3.6% after also reporting solid financial results.

Packaging maker Crown Holdings fell 16.8% after its latest earnings fell short of estimates. Industrial conglomerate General Electric fell 0.5% after reporting weak third-quarter earnings.

Many other big names are on deck to report earnings throughout the week. Boeing, Ford and Facebook’s parent company will report results on Wednesday. Caterpillar, Apple and Amazon are among the big companies reporting results on Thursday.

Outside of earnings, barbecue grill maker Weber soared 30.4% after it said BDT Capital Partners is interested in buying the rest of the company. Adidas fell 2.4% after the German sportswear company ended its partnership with the rapper formerly known as Kanye West over his offensive and antisemitic remarks.

The latest round of earnings reports are particularly important for investors looking for indications of inflation’s impact on various industries. Prices on everything from clothing to food remain at their highest levels in four decades, putting pressure on companies to raise prices and cut costs, while squeezing consumers.

The Federal Reserve and central banks around the world have been raising interest rates to tame inflation. That has investors concerned about the central bank going too far in trying to slow the economy and instead causing a recession.


----------



## Skate

*Stocks end higher on Wall Street as earnings roll in (Update)*
Damian J. Troise And Alex Veiga

*Stocks closed higher on Wall Street*
The higher close marked the third straight gain for the S&P 500. The benchmark hadn’t been able to string together more than two gains in a row since mid-September. The gains Tuesday came as the flow of company earnings reports stepped up. The S&P 500 climbed 1.6%. The Dow Jones Industrial Average added 1.1% and the Nasdaq rose 2.3%. Small-company stocks did even better. General Motors rose after delivering solid results, while packaging maker Crown Holdings fell sharply after its latest earnings fell short of estimates. Treasury yields continued to pull back from their multiyear highs.

*This is a breaking news update *
Stocks are broadly higher on Wall Street in afternoon trading Tuesday as traders take in a heavy round of earnings reports from big U.S. companies.

*90% of the S&P 500 notched gains*
The S&P 500 rose 1.7% as of 3:34 p.m. Eastern, with roughly 90% of stocks in the benchmark index notching gains. The Dow Jones Industrial Average rose 355 points, or 1.1%, to 31,859 and the Nasdaq rose 2.3%. Smaller company stocks outpaced the broader market. The Russell 2000 jumped 2.8%.

*Bond yields fell significantly*
The yield on the 10-year Treasury, which impacts mortgage rates, slipped to 4.10% from 4.23% late Monday. The yield on the two-year Treasury, which tracks Federal Reserve action, fell to 4.45% from 4.50% late Monday. U.S. crude oil prices rose 0.9%

*Investors are focused on earnings*
On the latest round of earnings reports from some big companies. General Motors rose 4.8% after delivering solid results. United Parcel Service initially rose, but then slipped 0.3% after the package delivery service beat Wall Street’s third-quarter earnings and revenue forecasts. Paint maker Sherwin-Williams jumped 3.6% after also reporting solid financial results.

*Earnings Report*
Packaging maker Crown Holdings fell 17.3% after its latest earnings fell short of estimates. Industrial conglomerate General Electric fell 0.6% after reporting weak third-quarter earnings. Many other big names are on deck to report earnings throughout the week. Google's parent company reports its results later Tuesday, along with Microsoft and Visa. Boeing, Ford, and Facebook's parent company will report results on Wednesday. Caterpillar, Apple, and Amazon are among the big companies reporting results on Thursday.

*Outside of earnings*
Barbecue grill maker Weber soared 29.7% after it said BDT Capital Partners is interested in buying the rest of the company. Adidas fell 2.3% after the German sportswear company ended its partnership with the rapper formerly known as Kanye West over his offensive and antisemitic remarks. The latest round of earnings reports are particularly important for investors looking for indications of inflation’s impact on various industries. Prices on everything from clothing to food remain at their highest levels in four decades, putting pressure on companies to raise prices and cut costs, while squeezing consumers.

*Interest rates*
The Federal Reserve and central banks around the world have been raising interest rates to tame inflation. That has investors concerned about the central bank going too far in trying to slow the economy and instead causing a recession. The Fed is expected to raise interest rates by another three-quarters of a percentage point at its upcoming meeting in November. Markets have been looking for any sign that the central bank is ready to ease up on rate increases. That includes data that the economy is slowing.

*Housing market*
A measure of home prices released on Tuesday showed that the housing market continues to cool. The S&P CoreLogic Case-Shiller Index, which tracks prices in major cities, fell more than expected in August. The Fed’s aggressive interest rate increases have been making borrowing more expensive, in turn driving mortgage rates higher and crimping the broader housing market.

*The U.S. economy *
The economy is already slowing down and actually contracted during the first half of the year. The government will release its third-quarter gross domestic product report on Thursday.

*ASX Market Update*





Skate.


----------



## bigdog

Asian stocks mixed ahead of US GDP update, Europe rates call
					

BEIJING (AP) — Asian stock markets were mixed Thursday ahead of an update on the U.S.




					apnews.com
				




Stocks end mixed on Wall Street amid weak tech earnings​By DAMIAN J. TROISE and ALEX VEIGA

Weak quarterly results from several big technology companies weighed on stocks Wednesday, leaving major indexes mixed on Wall Street.

The S&P 500 fell 0.7% after shedding an early gain, while the tech-heavy Nasdaq composite dropped 2%. The lower finish ended a three-day winning streak for both indexes.

The Dow Jones Industrial Average ended just barely in the green after having been up 1.1%, thanks in part to a big jump in Visa.

Smaller company stocks far outpaced the broader market, lifting the Russell 2000 index by 0.5%.

“A handful of very large companies are weighing on the indexes,” said Willie Delwiche, investment strategist at All Star Charts. “The more exposed you are to those mega-cap tech stocks the more you’re down today, and the less exposed you are the less you’re down.”

The S&P 500 fell 28.51 points to 3,830.60. The Nasdaq fell 228.12 points to 10,970.99. The Dow rose 2.37 points to close at 31,839.11. It had briefly been up by more than 335 points. The Russell 2000 added 8.18 points at 1,804.33

Google’s parent company, Alphabet, slumped 9.6% after it reported disappointing third-quarter financial results as advertising sales weakened. Weak ad sales are threatening other tech and communications companies. Music streaming service Spotify fell 13% after it reported a bigger third-quarter loss than Wall Street expected

Microsoft slid 7.7% after it reported disappointing growth for its cloud computing company, while profits fell along with PC sales. Chipmaker Texas Instruments fell 2.6% after giving investors a discouraging forecast for the current quarter.

Facebook’s parent company, Meta, fell 10.8% in after-hours trading following the release of its third-quarter earnings, which fell short of analysts’ forecasts, according to FactSet. The stock fell 5.6% in regular trading.

Stocks with huge valuations, such as Microsoft, Meta Platforms and Google parent Alphabet, can have a big effect on market indexes. In the S&P 500, the slide in technolgy and communications stocks outweighed gains elsewhere in the benchmark index, including in health care and energy companies.

Traders bid up shares in companies that delivered improved quarterly results Wednesday.

Visa rose 4.6% after reporting strong financial results and raising its dividend. Norfolk Southern gained 2.9% after reporting a surge in profits on an increase in shipping rates

Outside of earnings, Mobileye Global, Intel’s self-driving unit, rose 38% in its market debut.

Several other big companies are on deck to report earnings this week. Apple and Amazon report results on Thursday, along with industrial bellwether Caterpillar and McDonald’s.

The tech-stock losses also overshadowed another slide in Treasury yields, which helped boost stocks earlier in the week as they pulled back from their multiyear highs.

Bond yields have been declining amid speculation among investors that the Federal Reserve may begin easing up on its aggressive pace of interest rate increases as soon as this year. Gains in those rates have sent mortgage rates sharply higher this year.

The yield on the 10-year Treasury fell to 4.01% from 4.10% late Tuesday. The two-year yield fell to 4.42% from 4.48%.

Investors are mainly focused on earnings this week, but are waiting for several economic updates as they try to get a better picture of how inflation is impacting businesses, consumers and the Fed’s plans for interest rate increases.

The government will release its first estimate on third-quarter gross domestic product on Thursday. The U.S. economy is already slowing down and actually contracted during the first half the year. On Friday the government will also release more data on personal income, consumption and spending.

The latest economic data is being closely watched for any signs of a slowdown as Wall Street tries to determine if and when the Fed might ease up on its interest rate increases. The central bank is expected to raise interest rates another three-quarters of a percentage point at its upcoming meeting in November. But traders have grown more confident that it will dial down to a more modest increase of 0.50 percentage points in December, according to CME Group.

Investors have been concerned that the Fed could go too far with rate increases and cause a recession by slowing the economy too much.














The S&P 500 fell 28.51 points to 3,830.60. The Nasdaq fell 228.12 points to 10,970.99. The Dow rose 2.37 points to close at 31,839.11. It had briefly been up by more than 335 points

The S&P 500 fell 0.7% after shedding an early gain, while the tech-heavy Nasdaq composite dropped 2%. The lower finish ended a three-day winning streak for both indexes.

The Dow Jones Industrial Average ended just barely in the green after having been up 1.1%, thanks in part to a big jump in Visa.


----------



## bigdog

Asian shares mostly lower as Japan preps massive stimulus
					

Shares were mostly lower in Asia on Friday after a mixed session on Wall Street, where tech sector losses offset gains in other parts of the market.  Tokyo’s benchmark slipped as the government was preparing about $490 billion in stimulus spending  to help the world’s No.




					apnews.com
				




US stock indexes end mixed as Facebook parent company slumps​By DAMIAN J. TROISE and ALEX VEIGA

Wall Street delivered another mixed finish for stocks Thursday, as disappointing quarterly results from several big tech companies offset gains elsewhere in the market.

The S&P 500 fell 0.6%, with about 44% of stocks within the benchmark index losing ground. The tech-heavy Nasdaq fell 1.6%, while the Dow Jones Industrial Average rose 0.6%.

Facebook’s parent company, Meta Platforms, plummeted 24.6% for the biggest drop in the S&P 500 after reporting a second straight quarter of revenue decline amid falling advertising sales and stiff competition from TikTok. It joined other tech and communications stocks, such as Google’s parent company, Alphabet, and Microsoft, in reporting weak results and worrisome forecasts over advertising demand. Alphabet fell 2.9% and Microsoft slid 2%.

Amazon slid 19% in after-hours trading after the retail giant issued an estimate for sales in the last quarter of the year came in well below analysts’ forecasts. The stock fell 4.1% in regular trading before the release of its latest quarterly results

Construction equipment maker Caterpillar jumped 7.7% after it handily beat analysts’ third-quarter profit forecasts. The big gain helped boost the 30-company Dow.

Another pullback in long-term Treasury yields helped support stocks in companies that weren’t reporting quarterly results. The yield on the 10-year Treasury, which influences mortgage rates, fell to 3.91% from 4.01% late Wednesday. The two-year yield fell to 4.30% from 4.42%

“What you’re seeing is a little bit of relief,” said Megan Horneman, chief investment officer at Verdence Capital Advisors. “Earnings are not great but they’re not awful either.”

The S&P 500 fell 23.30 points to 3,807.30. The Dow rose 194.17 points to 32,033.28. The Nasdaq fell 178.32 points to 10,792.67.

Smaller company stocks held up better than the broader market. The Russell 2000 index added 1.99 points, or 0.1%, to 1,806.32.

Excluding the Nasdaq, the major indexes are on pace for weekly gains. And the S&P 500 remains solidly on track to end October in the green.

Earnings have been the big focus for Wall Street this week, but markets got some encouraging economic news Thursday as the government reported the U.S. economy returned to growth last quarter, expanding 2.6%. That marks a turnaround after the economy contracted during the first half of the year.

The economy has been under pressure from stubbornly hot inflation and the Federal Reserve’s efforts to raise interest rates in order to cool prices. The central bank is trying to slow economic growth through rate increases, but the strategy risks going too far and brining on a recession.

The rising interest rates have made borrowing more difficult, particularly with mortgage rates. Average long-term U.S. mortgage rates topped 7% for the first time in more than two decades this week.

The latest economic data is being closely watched for any signs of a slowdown or that inflation might be easing as Wall Street tries to determine if and when the Fed might pull back on its interest rate increases

The central bank is expected to raise interest rates another three-quarters of a percentage point at its upcoming meeting in November. But traders have grown more confident that it will dial down to a more modest increase of 0.50 percentage points in December, according to CME Group.

Central banks around the world have also been raising interest rates in an effort to tame inflation. The European Central Bank piled on another outsized interest rate hike on Thursday. Markets in Europe were mixed.

Wall Street has more earnings to review Friday, including Exxon Mobil, Chevron and Charter Communications.

Meanwhile, S&P Dow Jones Indices said Thursday that insurer Arch Capital Group will replace Twitter in the S&P 500 index before the opening of trading on Tuesday. The move comes ahead of Elon Musk’s acquisition of Twitter in a transaction expected to close Friday.





ASX 200 Futures    
	

		
			
		

		
	




The S&P 500 fell 0.6%, with about 44% of stocks within the benchmark index losing ground. The tech-heavy Nasdaq fell 1.6%, while the Dow Jones Industrial Average rose 0.6%.

The S&P 500 fell 23.30 points to 3,807.30. The Dow rose 194.17 points to 32,033.28. The Nasdaq fell 178.32 points to 10,792.67.


----------



## bigdog

Wall Street rally marks first weekly win streak since summer
					

Technology stocks led a broad rally on Wall Street Friday, capping another strong week for the market, as investors welcomed solid profits from Apple and other companies. The S&P 500 rose 2.5% and posted its first back-to-back weekly gains since August.




					apnews.com
				




Wall Street rally marks first weekly win streak since summer​By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Technology stocks led a broad rally on Wall Street Friday, capping another strong week for the market, as investors welcomed solid profits from Apple and other companies.

The S&P 500 rose 2.5% and posted its first back-to-back weekly gains since August. The Dow Jones Industrial Average rose 2.6% and the tech-heavy Nasdaq composite climbed 2.9%. Smaller company stocks also gained ground, lifting the Russell 2000 index by 2.3%.

Apple’s latest quarterly results showed the iPhone maker made even fatter profits during the summer than expected. Its shares rose 7.6% and led a rally in technology stocks that had largely been beat up a day earlier.

Intel jumped 10.7% after delivering much bigger profit than analysts forecasted even though it said it saw “worsening economic conditions.”

Gilead Sciences soared 12.9%, and T-Mobile US gained 7.4% after they also topped Wall Street’s profit expectations.

Investors were also encouraged by a report on consumer spending that came a day after new data showing the economy grew modestly in the third quarter and inflation eased.

“You have an economy that almost refuses to keel over, an economy that at its core is resilient, but a the same time inflation is easing and that is what the Fed wants and that’s obviously what the market wants,” said Quincy Krosby, chief equity strategist for LPL Financial

That’s helped fuel hopes on Wall Street for a “pivot” by the Federal Reserve, where the central bank dials down the big interest-rate hikes that have shaken the market. Such a move could boost the market, though many analysts say such hopes may be overdone.

The central bank has been very clear about its plan to err on the side of going too far in order to tame inflation, which means the big gains on hopes of a pullback seem premature, said Liz Young, chief investment strategist at SoFi.

“This rally has now gotten a bit irrational and fragile at this level,” Young said.

The S&P 500 rose 93.76 points to 3,901.06. The Dow gained 828.52 points to 32,861.80. The Nasdaq rose 309.78 points to 11,102.45. The Russell 2000 gained 40.60 points to 1,846.92.

Many big U.S. companies have been reporting stronger earnings than expected, though the bag remains decidedly mixed.

Solid earnings on Friday helped to offset a 6.8% drop for Amazon, which offered a weaker-than-expected forecast for upcoming revenue. It was the latest Big Tech company to take a beating this week after reporting some discouraging trends. It’s a sharp turnaround after the group dominated Wall Street for years with seemingly unstoppable growth.

Earlier in the week, Meta Platforms lost nearly a quarter of its value after reporting a second straight quarter of revenue decline amid falling advertising sales and stiff competition from TikTok. Microsoft and Google’s parent company also reported slowdowns in key areas.

Such woes have created a sharp split on Wall Street this week, between lagging Big Tech stocks and the rest of the market. The Nasdaq, which is stuffed with high-growth tech stocks, notched a 2.2% gain this week. It would have had an even worse showing if not for Apple’s boost from Friday. The Dow, meanwhile, jumped 5.7% for the week because it has less of an emphasis on tech

Rising interest rates have hit Big Tech stock prices harder than the rest of the market, and the pressure increased Friday as yields climbed.

“The markets still seem to not want to believe that we might end up in a place where an earnings recession is possible,” Young said.

Data released in the morning showed the raises that U.S. workers got in wages and other compensation during the summer was in line with economists’ expectations. That should keep the Fed on track to keep hiking rates sharply in hopes of weakening the job market enough to undercut the nation’s high inflation. Other data showed the Fed’s preferred measure of inflation remains very high, and U.S. households continue to spend more in the face of it.

The Fed is trying to starve inflation of the purchases made by households and businesses needed to keep it high. It’s doing that by intentionally slowing the economy and the jobs market. The worry is that it could go too far and cause a sharp downturn

The Fed has already raised its benchmark overnight interest rate up to a range of 3% to 3.25% up from virtually zero in March. The widespread expectation is for it to push through another increase that’s triple the usual size next week, before it potentially makes a smaller increase in December. Higher rates not only slow the economy, they also hurt prices for stocks and other investments.

The yield on the two-year Treasury, which tends to track expectations for Fed action, rose to 4.42% from 4.28% late Thursday.

The 10-year yield, which helps set rates for mortgages and many other loans, climbed to 4.01% from 3.93%.

Trading in Twitter’s stock has ended, after Elon Musk took control of the company following a lengthy legal battle


----------



## bigdog

*
ASX 200 futures up 92 points or 1.4% to 6868 on Saturday*

The S&P 500 rose 2.5% and posted its first back-to-back weekly gains since August. The Dow Jones Industrial Average rose 2.6% and the tech-heavy Nasdaq composite climbed 2.9%. Smaller company stocks also gained ground, lifting the Russell 2000 index by 2.3%

The S&P 500 rose 93.76 points to 3,901.06. The Dow gained 828.52 points to 32,861.80. The Nasdaq rose 309.78 points to 11,102.45. The Russell 2000 gained 40.60 points to 1,846.92.


----------



## bigdog

Asian shares advance, shrugging off Wall Street retreat
					

BANGKOK (AP) — Shares have advanced in Asia despite a retreat on Wall Street. Hong Kong jumped more than 3% and most other major indexes saw strong gains.  A private survey of manufacturers showed some improvement in the business outlook in China, helping to counter renewed concerns over...




					apnews.com
				




Stocks slip, but still end up with big gains for October​By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed broadly lower on Wall Street Monday, a downbeat finish for major indexes in an otherwise banner October for the market, including the best month for the Dow Jones Industrial Average since 1976.

The S&P 500, the benchmark for many index funds, notched an 8% gain for the month, it’s first monthly gain since July. The Nasdaq composite rose 3.9% in October, also marking its first monthly gain in three months. The Dow rose 14% in the month. The Dow tracks just 30 blue chip companies, far fewer than other indexes, and can have bigger swings than broader indicators like the S&P 500.

A market pullback in August and September, combined with better-than-expected quarterly earnings from many companies, helped put investors in a buying mood in October. Cautious optimism that the Federal Reserve might be ready to begin easing up on the aggressive pace of interest rate hikes as it tries to squash inflation, also helped

“It’s probably a combination of the fact that we were so deeply oversold, earnings weren’t as bad as feared, and that kind of sets up a recipe for a bounce,” said Michael Antonelli, market strategist at Baird.

“Whether that bounce holds or not depends on your view of” whether the Fed is likely to shift away from large rate hikes or inflation begins to decline, he added

On Monday, the S&P 500 slipped 29.08 points, or 0.7%, to close at 3,871.98. The index is now down 18.8% so far this year.

The Dow fell 128.85 points, or 0.4%, to 32,732.95, while the Nasdaq dropped 114.31 points, or 1%, to 10,988.15. The Russell 2000 index of smaller company stocks was little changed at 1,846.86.

Technology and communications stocks were the biggest drags on the broader market. Apple fell 1.5% and Google’s parent fell 1.8%.

Stocks gained ground throughout October as investors shifted their focus to the latest round of corporate earnings. More than half of the companies within the S&P 500 have reported results and shown overall earnings growth of 2.3%, according to FactSet.

Companies have so far given investors a mixed bag of results and forecasts as Wall Street tries to get a better picture of the economy. Inflation remains stubbornly hot and the Federal Reserve has been raising interest rates aggressively to try and slow down the economy and tame high prices. The strategy risks hitting the brakes too hard on economic growth and sending the economy into a recession

Investors this week will be watching for another extra-large interest rate increase from the Fed. The widespread expectation is for it to push through another increase that’s triple the usual size. Wall Street is roughly split on whether it will do the same in December or shift to a smaller increase, according to CME Group.

“Markets are itching to see a peak in this year’s aggressive hiking cycles but it would be a mistake to expect central banks will call an early end to their fight against inflation,” analysts at J.P.Morgan wrote in a research note.

Any signals from the Fed on Wednesday that it is prepared to pump the brakes on its rate hiking policy will likely trigger a market rally.

“If there’s any language that’s dovish at all the market will absolutely rip,” Antonelli said. “But I don’t think it’s going to happen. They can’t afford any dovish language with the (consumer price index) over 8%.”

If the Fed signals that it plans to stay on its current pace of rate hikes beyond November, that could lead to a sell-off Wednesday, said Farzin Azarm, managing director of equities trading at Mizuho Americas.

“The market would take it very, very negatively,” Azarm said.

Bond yields have been hovering near multiyear highs as the Fed continues to raise interest rates. The yield on the two-year Treasury, which tends to track expectations for Fed action, rose to 4.48% from 4.42% late Friday.

The 10-year yield, which influences interest rates on mortgages and many other loans, climbed to 4.07% from 4.02% late Friday.

Inflation has been a global problem. The European Union’s statistics agency, Eurostat, reported Monday that inflation hit another record in the 19 countries that use the euro currency, fueled by out-of-control prices for natural gas and electricity due to Russia’s war in Ukraine. According to Eurostat, annual inflation reached 10.7% in October.

Investors will be closely watching the U.S. government’s latest monthly employment report on Friday for any clues on whether the hot jobs market is cooling as inflation squeezes businesses. Wall Street still has plenty of earnings to review from big companies this week. Pfizer will report its results on Tuesday, followed by CVS on Wednesday. Starbucks reports its results on Thursday.

Market watch​ASX 200 Futures  6,864.5  +17.5  (+0.26%)  @ 06:59:55​On Monday, the S&P 500 slipped 29.08 points, or 0.7%, to close at 3,871.98. The index is now down 18.8% so far this year.

The Dow fell 128.85 points, or 0.4%, to 32,732.95, while the Nasdaq dropped 114.31 points, or 1%, to 10,988.15.


----------



## bigdog

Asian benchmarks higher as markets await Fed rate moves
					

TOKYO (AP) — Asian shares were mostly higher Wednesday ahead of a decision by the U.S. Federal Reserve on an interest rate increase to curb inflation.  Oil prices rose more than $1 a barrel and U.S.




					apnews.com
				




Stocks end lower as hot jobs data signals aggressive Fed​By DAMIAN J. TROISE and ALEX VEIGA

Stocks on Wall Street gave up early gains and closed lower Tuesday after an unexpectedly strong report on the job market raised concerns that the Federal Reserve will need to keep the pressure on inflation with aggressive interest rate increases.

The S&P 500 fell 0.4% after having been up as much as 1% shortly after trading opened. The Dow Jones Industrial Average fell 0.2% and the Nasdaq composite dropped 0.9%.

Big technology stocks were the biggest weights on the market. The companies, with their big valuations, have more heft in pushing the broader market up or down. Also, rising interest rates tend to make the sector look less attractive because of those high valuations. Apple fell 1.8%.

Communication services stocks, retailers and other companies that rely on consumer spending also helped drag down the overall S&P 500, keeping gains in banks, energy firms and other sectors of the market in check

Small company stocks held up better than the rest of the market. The Russell 2000 rose 0.3%.

The Labor Department reported that U.S. job openings rose unexpectedly in September, suggesting that the labor market is not cooling as fast as the Fed hoped for as it tries to slow economic growth.

The latest jobs data, which comes ahead of a broader employment report on Friday, is disappointing for investors who are looking for signs that inflation is easing and that the Fed might consider tempering its interest rate increases.

“That really fuels the expectation that the Fed has to do more hiking,” said Jason Draho, head of asset allocation for the Americas at UBS Global Wealth Management. “The labor market is still too tight for the Fed.”

Wall Street is concerned that the central bank is being too aggressive in slowing the economy, running the risk that it could bring on a recession.

Long-term Treasury yields turned higher after the report in job openings came out and rose back near multiyear highs. Those high rates have helped push mortgage rates above 7% this year.

The yield on the 10-year Treasury rose to 4.05% from 3.93% earlier in the morning.

The yield on the two-year Treasury, which tends to reflect market expectations of future moves by the Fed, rose to 4.54% from 4.40%

“The issue for investors is figuring out how long the hiking cycle will last,” Draho said. “(Fed Chair Jerome) Powell will want to leave all options on the table.”

The S&P 500 fell 15.88 points to 3,856.10. The Dow dropped 79.75 points to close at 32,653.20. The Nasdaq slid 97.30 points to 10,890.85. The Russell 2000 rose 4.53 points to 1,851.39.

Stocks are coming off a strong rally in October that resulted in big monthly gains for some of the major indexes. Even so, they remain in the red for the year, including the S&P 500, which is down about 19%.

Several big companies made solid gains following encouraging earnings reports and forecasts.

Pfizer rose 3.1% after reporting strong results and raising its profit forecast for the year. Uber surged 12% after giving investors a strong forecast for future bookings. Rival Lyft rose 3.5%.

Earnings remain a big focus for investors this week. Starbucks and Warner Bros. Discovery report earnings on Thursday and Cardinal Health does so on Friday.

Outside of earnings, Abiomed surged 49.9% after health care giant Johnson & Johnson said it will pay $16.6 billion for the heart pump maker. Johnson & Johnson slipped 0.5%.

The Fed is beginning a two-day policy meeting that’s expected to result in its sixth interest rate increase of the year as the central bank fights the worst inflation in four decades. The widespread expectation is for the Fed to push through another increase that’s triple the usual size, or three-quarters of a percentage point.

For its final policy meeting of the year, in December, opinions are currently split among investors as to whether the Fed will make another three-quarters point move or dial back to a half-point increase.

“The big focus is not so much on what the rate hike is going to be, but really what the comments are coming out of this week’s meeting in terms of any indications of whether there’ll be a little bit of softening as we move into early next year,” said Greg Bassuk, CEO at AXS Investments.

Market watch​ASX futures 6,978.0 +14.0 +0.20% at 07:00:03 AEDT

The S&P 500 fell 0.4% after having been up as much as 1% shortly after trading opened. The Dow Jones Industrial Average fell 0.2% and the Nasdaq composite dropped 0.9%.

The S&P 500 fell 15.88 points to 3,856.10. The Dow dropped 79.75 points to close at 32,653.20. The Nasdaq slid 97.30 points to 10,890.85. The Russell 2000 rose 4.53 points to 1,851.39.


----------



## bigdog

Asia stocks fall after Fed says more US rate hikes likely
					

BEIJING (AP) — Asian stock markets tumbled Thursday after the Federal Reserve added to recession fears by saying it wasn't finished raising U.S. interest rates to cool inflation. Hong Kong's benchmark lost 3.1%.




					apnews.com
				




Stocks fall after Fed says it’s too soon to pause rate hikes​By DAMIAN J. TROISE and ALEX VEIGA

Stocks fell sharply after Federal Reserve Chair Jerome Powell signaled that interest rates will need to go even higher than previously thought in order to tame the worst inflation in decades.

The Fed also raised its benchmark rate by three-quarters of a percentage point Wednesday, its fourth consecutive hike of that magnitude and its sixth this year.

Markets had initially rallied after Fed policymakers suggested in a statement that they might slow the pace of increases. Those gains disappeared and stocks turned lower again after Powell delivered the sobering news that the Fed may need to hold back the economy with high interest rates for some time before the fight against inflation is done.

“It’s very premature, in my view, to think about or to be talking about pausing our rate hikes,” Powell in a news conference. “We have a ways to go.”

The remarks dashed Wall Street’s hopes that the central bank would signal that it might be considering easing back on its aggressive rate increases, which have weighed on the stock market this year. Higher rates not only slow the economy by discouraging borrowing, they also make stocks look less appealing compared to lower-risk assets like bonds and CDs

The S&P 500 fell 2.5%, its third straight drop. It had been up by 1% earlier. The Dow Jones Industrial Average fell 1.5% and the Nasdaq composite slid 3.4%.

Long-term Treasury yields jumped after a brief pullback. The yield on the two-year Treasury, which tends to track market expectations of future Fed action, rose to 4.58% from 4.55% shortly before the Fed released its statement. The yield on the 10-year Treasury, which helps set mortgage rates, climbed to 4.09% after having fallen to 3.98% earlier in the afternoon.

The Fed’s move raised its key short-term rate to a range of 3.75% to 4%, its highest level in 15 years. It was the central bank’s sixth rate hike this year, a streak that has made mortgages and other consumer and business loans increasingly expensive and heightened the risk of a recession.

In a statement announcing the rate hike the Fed suggested that it could soon shift to a more deliberate pace of rate increases. And said that in coming months it would consider the cumulative impact of its large rate hikes on the economy.

Any encouragement that gave investors faded when Powell said during a press conference that the central bank would rather make a mistake of taking interest rates too high than easing too quickly, noting that a premature pullback on rate hikes could lead inflation to become entrenched, which risks more pain for households.

Powell also said that regardless of whether the Fed dials down its interest rate hike in December, it may still end up pulling its key short-term rate ultimately to a higher level than previously thought because of data show inflation is worse than expected.

Wall Street has been closely watching the latest economic data, which is heavy on the employment market this week. It has remained strong despite inflation, which is being taken as a sign that the Fed will have to remain aggressive in its fight against high prices.

The latest jobs data from private payroll company ADP shows that companies added positions at a greater pace than expected in October. The report follows hotter-than-expected data from the government Tuesday on job openings.

“It’s sort of confirming that the Fed still has more work to do,” said Ryan Grabinski, managing director of investment strategy at Strategas, a Baird company.

Investors will get more employment data with the government’s weekly unemployment report on Thursday and a broader monthly jobs report on Friday. They have been closely watching the latest round of company earnings to get a better sense of inflation’s impact on corporate profits and outlooks. It’s been a mixed bag so far.

All told, the S&P 500 fell 96.41 points to 3,759.69. The Dow lost 505.44 points to 32,147.76. The Nasdaq slid 366.05 points to 10,524.80.

The 11 sectors in the S&P 500 closed in the red after shedding all their gains following a brief rally immediately after the Fed statement. Technology stocks, retailers and health care companies were among the biggest weights on the index. Apple fell 3.7%, Amazon dropped 4.8% and Johnson & Johnson slipped 1.5%.

Drugstore operator CVS rose 2.3% after raising its profit forecast following a strong third quarter. Short-term vacation rental marketplace Airbnb fell 13.4% after warning investors that bookings growth will slow in the fourth quarter. Beauty products maker Estee Lauder slid 8.1% after slashing its profit forecast as COVID-19 lockdowns in China and inflation hurt business.

Market watch​ASX futures  200 index 6,873.0 down 106.0 down 1.52% @ 07:00:02 AM

The S&P 500 fell 96.41 points to 3,759.69. The Dow lost 505.44 points to 32,147.76. The Nasdaq slid 366.05 points to 10,524.80.

The S&P 500 fell 2.5%, its third straight drop. It had been up by 1% earlier. The Dow Jones Industrial Average fell 1.5% and the Nasdaq composite slid 3.4%.











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## bigdog

Asia markets rise, except Japan, ahead of US jobs report
					

TOKYO (AP) — Shares were mostly higher in Asia on Friday led by a 5.8% jump in Hong Kong’s Hang Seng index as Chinese markets were lifted by speculation that Beijing might begin to ease pandemic restrictions.




					apnews.com
				




Stocks end lower as the Fed continues to fight inflation​By DAMIAN J. TROISE and ALEX VEIGA

Stocks racked up more losses on Wall Street and Treasury yields again rose to multiyear highs Thursday as investors looked ahead to a closely watched job market report from the government that could influence the Federal Reserve’s next move in its fight to bring down inflation.

Technology stocks led the market pullback, which came a day after the central bank raised its benchmark rate for the sixth time this year and signaled that it may need to keep hiking rates for some time before its can successfully squash the highest inflation in decades.

The S&P 500 fell 1.1%, while the Dow Jones Industrial Average dropped 0.5%. The tech-heavy Nasdaq composite closed 1.7% lower. The declines extended the major indexes’ losing streak to a fourth day. They’re each on pace for a weekly loss.

Expectations of higher rates helped push up Treasury yields, weighing on stocks. The two-year Treasury note, which tends to track expectations for future Fed moves, rose to 4.72% from 4.61% late Wednesday and is now at its highest level since 2007, according to Tradeweb.

The yield on the 10-year Treasury rose to 4.15% from 4.09% late Wednesday. The rise in the 10-year Treasury yield has prompted mortgage rates to more than double this year and it continues putting pressure on stocks

The Fed on Wednesday added another jumbo rate increase and suggested that the pace of rate hikes may slow. The central bank also indicated that interest rates might need to ultimately go even higher than previously thought in order to tame the worst inflation in decades.

The central bank’s latest three-quarters of a percentage point raise brings short-term interest rates to a range of 3.75% to 4%, its highest level in 15 years. Wall Street is evenly split on whether the central bank ultimately raises rates to a range of 5% to 5.25% or 5.25% to 5.50% next year.

Higher rates not only slow the economy by discouraging borrowing, they also make stocks look less appealing compared to lower-risk assets like bonds and CDs.

Stubbornly hot inflation has been prompting central banks around the world to also raise interest rates. On Thursday, the Bank of England announced its biggest interest rate increase in three decades. The increase is the Bank of England’s eighth in a row and the biggest since 1992.

European and Asian markets closed mostly lower.

In the U.S., the S&P 500 fell 39.80 points to 3,719.89. The Dow lost 146.51 points to close at 32,001.25. The Nasdaq slid 181.86 points to 10,342.94. Smaller company stocks also lost ground. The Russell 2000 fell 9.41 points, or 0.5%, to 1,779.73.

Technology and communication services stocks were among the biggest weights on the market. Apple fell 4.2% and Warner Bros. Discovery slid 5.6%.

Those losses kept gains in industrial, energy and other sectors in check. Boeing jumped 6.7% and Marathon Petroleum rose 3%.

Investors had been hoping for economic data signaling that the Fed might ease up on rate increases. The fear is that the Fed will go too far in slowing the economy and bring on a recession.

Hotter-than-expected data from the employment sector this week has so far signaled that the Fed has to remain aggressive. On Friday, Wall Street will get a broader update from the U.S. government’s October jobs report.

So far, hiring and wage growth have not fallen fast enough for the Fed to slow its inflation-fighting efforts. If the October data shows a stronger-than-expected rise in hiring or wages, that could put pressure on the Fed to keep raising interest rates.

The Labor Department is expected to report that nonfarm employers added 200,000 jobs last month. That would be the worst showing since December 2020, when the economy lost 115,000 jobs.

Investors will also be looking ahead to the latest data on inflation at the consumer level. That report, the consumer price index, is due out next week.

“The next two or three quarters are incredibly important in assessing how far the Federal Reserve will need to go to achieve their objective of bringing down inflation,” said Bill Northey, senior investment director at U.S. Bank Wealth Management. “Why the CPI data is so important, why the labor report is so important, is because they feed into that next six-month cycle.”

Wall Street has also been closely watching the latest company earnings reports. The reports have been mixed and many companies have warned that inflation will likely continue pressuring operations.

Booking Holdings rose 2.7% after reporting strong third-quarter financial results. Robinhood Markets climbed 8.2% after the investing app operator reported third-quarter earnings that topped Wall Street’s forecasts. Chipmaker Qualcomm fell 7.7% after giving investors a weak profit and revenue forecast.

Market watch​ASX futures  200 index 6,834.5 down 12.5 points  &  0.18% @ 06:59:57 AM

The S&P 500 fell 39.80 points to 3,719.89. The Dow lost 146.51 points to close at 32,001.25. The Nasdaq slid 181.86 points to 10,342.94. Smaller company stocks also lost ground. The Russell 2000 fell 9.41 points, or 0.5%, to 1,779.73.

The S&P 500 fell 1.1%, while the Dow Jones Industrial Average dropped 0.5%. The tech-heavy Nasdaq composite closed 1.7% lower.


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## bigdog

*Friday was great day for all countries except Japan*









						Hong Kong shares soar on hopes China COVID rules may ease
					

TOKYO (AP) — Shares soared more than 7% in Hong Kong on Friday after a Communist Party newspaper reported that local officials were being urged not to impose overly burdensome controls to curb coronavirus infections.




					apnews.com
				




Wall Street rallies, in fits and starts, after jobs report​By STAN CHOE and DAMIAN J. TROISE

NEW YORK (AP) — Stocks rallied Friday, but only after yo-yoing several times, as Wall Street struggled with what to make of the latest reading on the U.S. jobs market and what it means for interest rates and the odds of a recession.

The S&P 500 climbed 1.4% after seeing an even bigger rally from the morning disappear completely, only to recover at the end of the day. The Dow Jones Industrial Average rose 1.3% after veering from a gain of 610 points to a loss of 62, while the Nasdaq composite added 1.3%.

The latest set of gyrations in what’s already been a wild year for markets followed a U.S. government report showing the unemployment rate ticked higher in October, employers added fewer jobs than they had a month earlier and gains for workers’ wages slowed a touch.

Stocks initially rallied as the data offered some hope that the Federal Reserve’s efforts to weaken the jobs market may be taking effect and may help lower the nation’s high inflation. But the slowdown was still more modest than economists expected. And it changed few minds about what’s going to happen next: The Fed will keep hiking rates toward levels rarely seen this millennium, clamping the brakes tighter on the economy and dragging on prices for stocks and other investments.

Such fears helped send the S&P 500 to its first weekly loss in the last three, despite Friday’s gain of 50.66 points to 3,770.55. The Dow rose 401.97 Friday to 32,403.22, and the Nasdaq climbed 132.31 to 10,475.25, though both also finished with losses for the week.

While Wall Street chewed over the jobs report, markets around the world bounced higher amid continued speculation that China may relax its zero-COVID strategy and invigorate what’s long been a major source of growth for the global economy.

Earlier this week, Fed Chair Jerome Powell called out a still-hot jobs market as one of the reasons the central bank may ultimately have to raise rates higher than earlier thought. Such moves could cause a recession, and it’s why investors came into Friday with such anticipation for the U.S. government’s monthly jobs report.

On the bright side for markets, some analysts pointed to the slight increase in the unemployment rate to 3.7% during October. That raised the possibility that September’s 3.5% rate may prove to be the bottom. Big tech companies like Amazon have recently announced hiring freezes or even layoffs to stay in step with what they see as a weakening economy. That could keep the job market out of a feared “wage-price spiral,” where a tight jobs market sends wages so high that it feeds into even higher inflation.

Other analysts, though, focused on the still-solid jobs market where hiring continues to top expectations. If anything, Friday’s stronger-than-forecast jobs data likely means “Fed officials are going to have to step on the brakes even harder to slow this economy and bring inflation under control,” according to Russell Price, Ameriprise chief economist.

Several investors and banks raised their expectations Friday for how high the Fed will ultimately take short-term interest rates next year, with many eyeing something above 5%. That’s a level the economy has experienced only rarely in the last two decades and a big jolt for the federal funds rate after it began this year at virtually zero.

At fund behemoth Vanguard, the investment strategy group said all of Friday’s data on jobs together offers “nothing to change Vanguard’s Fed expectations” and only increases the focus on next week’s update for how bad inflation was across the country in October.

Markets around the world wobbled in the minutes immediately following the release of the U.S. jobs data. The yield on the two-year Treasury, which tends to track expectations for action by the Fed, jerked up and down a few times before eventually easing.

Markets elsewhere had been buoyed earlier on hopes that China may soon relax anti-COVID policies that have sometimes caused entire cities to be locked down for weeks. Such a move could give a boost to the global economy when worries are high about recessions around the world because of aggressive rate hikes by central banks from the Americas to New Zealand.

Stocks in Hong Kong surged 5.4% Friday, while stocks in Shanghai jumped 2.4%. Both markets finished the week with strong gains.

The price of copper also climbed roughly 7%. A stronger Chinese economy would devour more raw materials, and shares of miner Freeport-McMoRan soared 11.5% for the biggest gain in the S&P 500.

Two casino companies that get much of their revenue from the gambling center of Macao on the southern coast of China were also among Wall Street’s stronger stocks. Las Vegas Sands climbed 6.3%, and Wynn Resorts added 6.5%.

The yield on the two-year Treasury fell to 4.68% from 4.72% late Thursday. The 10-year yield, which helps dictate rates for mortgages and other loans, edged higher to 4.16% from 4.15%.


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## bigdog

ASX 200 Futures​ASX futures up 100 points or 1.46% to 6976 on Saturday

The S&P 500 climbed 1.4% after seeing an even bigger rally from the morning disappear completely, only to recover at the end of the day. The Dow Jones Industrial Average rose 1.3% after veering from a gain of 610 points to a loss of 62, while the Nasdaq composite added 1.3%.

The Dow rose 401.97 Friday to 32,403.22, and the Nasdaq climbed 132.31 to 10,475.25, though both also finished with losses for the week.


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## bigdog

Asian markets mixed ahead of US elections, inflation data
					

TOKYO (AP) — Asian stocks were mixed Tuesday ahead of the U.S. midterm elections  with trading likely to stay bumpy in a week that brings new inflation data and other events that could shake markets.




					apnews.com
				


Wall Street climbs ahead of Election Day, inflation data​By DAMIAN J. TROISE and STAN CHOE

Stocks rose Monday on the eve of Election Day as Wall Street looked ahead to the benefits of a possibly split government in Washington, though trading is likely to stay bumpy in a week full of events that could shake the market.

The S&P 500 rose 1%, while the Dow Jones Industrial Average gained 1.3% and the Nasdaq composite added 0.9%.

Analysts say many investors seem to be making bets that Republicans will take control of at least one house of Congress. With a divided government, gridlock is more likely than big, sweeping policy changes that could upend tax and spending plans. And historically, when a Democratic White House has shared power with a split or Republican Congress, stocks have seen stronger gains than usual.

“The conventional wisdom that the stock market likes political gridlock is supported by the historical data in this instance,” according to Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets.

Of course, that means a better-than-expected performance by Democrats in the midterm elections could hurt stocks. Investors may fear emboldened Democrats in such a scenario would push for increased spending to help the economy. That in turn could be a signal that the Federal Reserve would have to hike interest rates even higher to get inflation under control.

A Republican win would also introduce its own risks. It could again encourage Republican brinksmanship around the nation’s debt limit and threaten another government shutdown, according to strategists at Morgan Stanley.

Either way, markets may have to wait a while to get clarity because of the process to count votes that came in through the mail.

In the meantime, Wall Street is looking ahead to a report scheduled for Thursday, when the U.S. government will show how bad inflation was across the country last month. And that will influence what’s been the main driver on Wall Street this year, much more than politics: what the Federal Reserve does on interest rates.

Economists expect the report to show that the consumer price index was 8% higher in October than a year earlier, which would be a slight slowdown from September’s 8.2% inflation rate.

A fourth straight month of moderating inflation from June’s 9.1% rate could offer some relief. Such a trendline could also give the Federal Reserve leeway to loosen up a bit in its campaign to hike rates aggressively to force inflation lower.

The Fed has said that it may soon dial down the size of its increases to half a percentage point, after pushing through four straight mega increases of three-quarters of a point. Higher rates put the brakes on the economy by making it more expensive to buy a house, car or anything else on credit.

But too-high rates also raise the risk of a recession, while also dragging on prices for stocks and all kinds of investments. And rate hikes take a notoriously long time to take full effect, though economists debate exactly how long that is.

“The lags are different each cycle and for different reasons, and we just don’t know when the tightening will have the impact that was intended,” said Keith Buchanan, portfolio manager at Globalt Investments

“It boils down to one question,” Buchanan said. “What impact has the tightening from the Fed had on inflation?”

Even though the Fed has said that it may soon pare back the size of its increases, it is still warning markets that it may ultimately hike rates higher than expected because of just how stubborn high inflation has been. The Fed has already hiked its key overnight rate to a range of 3.75% to 4%, up from virtually zero in March, and more investors are expecting it to top 5% next year.

Monday’s gains for Wall Street came despite a shaky showing for its most influential stock. Apple rose 0.4% after dropping earlier in the day. It had warned customers they’ll have to wait longer to get the latest iPhones after anti-COVID restrictions were imposed on a contractor’s factory in China.

Speculation has been rising recently that China may move away from its business-damaging zero-COVID policies. If the world’s second-largest economy did, it could provide a boost to a global economy facing wide-ranging threats as central banks worldwide hike rates because of high inflation.

Besides the election, inflation and China, earnings reports from U.S. companies are also pushing stock prices to swing.

The reporting season for summertime profits is roughly 85% done, and S&P 500 companies are on track to deliver growth of a little more than 2%. That’s close to analysts’ forecasts, though several companies have been warning of tougher times ahead as inflation remains high and the economy appears increasingly fragile.

Analysts are now forecasting a drop in S&P 500 profits for the final three months of the year, of nearly 1.5%. They had been forecasting growth of 4% at the end of September.

Bond yields rose. The yield on the 10-year Treasury rose to 4.21% from 4.16% late Friday. The yield on the two-year Treasury rose to 4.73% from 4.66%.

The S&P 500 gained 36.25 to 3,806.80. The Dow rose 423.78 to 32,827.00, and the Nasdaq climbed 89.27 to 10,564.52.


Market watch​
*ASX 200 Futures up +36.5 points or +0.53% to 6971.5 at 06:59:24 AEDT*​The S&P 500 gained 36.25 to 3,806.80. The Dow rose 423.78 to 32,827.00, and the Nasdaq climbed 89.27 to 10,564.52.

The S&P 500 rose 1%, while the Dow Jones Industrial Average gained 1.3% and the Nasdaq composite added 0.9%.




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## bigdog

Asian shares mixed as market await vote results, price data
					

BANGKOK (AP) — Asian shares were mixed on Wednesday as investors awaited the outcome of the U.S. midterm elections and a major inflation update due later in the week.  Tokyo's Nikkei 225 index slipped 0.2% and the Hang Seng in Hong Kong also shed 0.2%, to 16,517.04.




					apnews.com
				




Wall Street rises ahead of election results, inflation data​By DAMIAN J. TROISE and STAN CHOE

Election Day brought another rise for Wall Street, with stocks climbing Tuesday for a third straight day.

The S&P 500 rose 21.31, or 0.6%, to 3,828.11, though it flipped between an even bigger gain and a modest loss to get there. The Dow Jones Industrial Average climbed 333.83 points, or 1%, to 33,160.83, and the Nasdaq composite gained 51.68, or 0.5%, to 10,616.20.

With Americans heading to the polls across the country amid high inflation and worries about a possible recession, analysts say investors appear to be making bets for Republicans to gain control of at least one house of Congress. That combined with a Democratic White House could lead to little getting done in Washington, which may be bad for society but could also keep the status quo on economic policy. And markets tend to abhor uncertainty.

If Republicans do end up wining control of at least the House of Representatives, the ensuing reaction in financial markets could be modest, according to economists at Goldman Sachs. Stocks have already rallied in anticipation of it, with two straight gains of at least 1% before Election Day. But a surprise win by Democrats could upset the market if it leads investors to expect higher corporate taxes and other policy changes.

A Republican win could also introduce its own risks that show themselves over time. One could be that any help for the economy from Congress during a possible recession would be less likely to pass and weaker than it would otherwise be under a Congress controlled by Democrats.

Economists are gaming out what could happen in a recession because something much more impactful than control of the U.S. Senate is dominating the economy, as well as markets: high inflation and the swift interest-rate hikes the Federal Reserve is pushing through to get it under control.

That’s why the more important milestone for markets this week than Election Day may be Thursday’s upcoming report on inflation. That data will likely carry much more influence over what the Fed does with rates.

“It will continue to be front and center until we are out of the woods from this high inflationary environment,” said Bill Merz, head of capital market research at U.S. Bank Wealth Management. “The Fed doesn’t even know how far they need to go, certainly nobody else does.”

By raising rates, the Fed is intentionally slowing the economy by making it more expensive to borrow money. That in turn should hopefully stamp down inflation, which is near its most oppressive rate in four decades. The problem for markets is that high rates drag down prices for stocks and other investments while raising the risk of a recession if rates go too high.

Even though the Fed has said it may soon pare back the size of its increases, it is still warning markets that it may ultimately hike rates higher than expected because of just how stubborn high inflation has been. The Fed has already hiked its key overnight rate to a range of 3.75% to 4%, up from virtually zero in March, and more investors are expecting it to top 5% next year

A softer reading than expected on Thursday could give the Fed leeway to loosen up a bit after raising interest rates at a furious pace this year. Economists expect the report to show a continued, slight moderation from a peak set during the summer.

But a worse-than-expected reading could have the opposite effect. The Fed has already said it would prefer taking interest rates too high rather than leave them too low. That’s because it sees a recession as a less bad outcome than punishingly high and enduring inflation.

“The point though, is how long does it take to get back to a more normal inflation rate and the longer it takes, the more restrictive the Fed is compelled to be,” Merz said.

Stocks are also moving on corporate profit reports, as earnings season enters its tail end. Take-Two Interactive sank 13.7% after reporting weaker results for the latest quarter than expected.

Shares of companies entwined with the cryptocurrency economy also fell sharply, with Coinbase Global losing 10.8% and Robinhood Markets falling 19%

They dropped with crypto prices after the world’s biggest crypto exchange by daily volume, Binance, said it intends to buy one of its bigger rivals, FTX.

Binance is making the purchase to help FTX manage a crunch where users have been pulling money out amid fears about its financial strength. It’s the latest crisis of confidence to slam the crypto industry this year, as prices have tumbled in part on worries about higher interest rates.

Bitcoin at one point sank below $17,500 before pulling back to $18,267, down 12.2% from a day earlier, according to CoinDesk.

Market watch​
​
ASX 200 futures up 33 points or 0.47% to 6991 at 08:00:03-am AEDT

The S&P 500 rose 21.31, or 0.6%, to 3,828.11, though it flipped between an even bigger gain and a modest loss to get there. The Dow Jones Industrial Average climbed 333.83 points, or 1%, to 33,160.83, and the Nasdaq composite gained 51.68, or 0.5%, to 10,616.20.
​

Australian dollar +0.4% to 65.05 US cents at 7.09am AEDT​
Wall Street (in late trade): S&P 500 +0.3%, Dow Jones +0.9%, Nasdaq +0.2%​
Europe: Stoxx 50 +0.8%, FTSE +0.1%, DAX +1.2%, CAC +0.4%​
Bitcoin -14.4% to $US17,895 on Bitstamp at 7.11am AEDT​
Spot gold +2.1% to $US1711.37 per ounce at 7.08am AEDT​
US oil -2.9% to $US89.10 a barrel at 7.00am AEDT​
Brent crude -2.4% to $US95.55 a barrel at 7.00am AEDT​
Iron ore -2.1% to $US85.33 per tonne (Tianjin 62% grade)​
10-year yield: US 4.12% Australia 4.03% Germany 2.27%​


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## bigdog

Asian stocks follow Wall St down before US inflation update
					

BEIJING (AP) — Asian stock markets followed Wall Street lower on Thursday ahead of a U.S. inflation update that will likely influence Federal Reserve plans for more interest rate hikes after elections left control of Congress uncertain.




					apnews.com
				




Wall Street washout as stocks tumble, crypto dives further​By DAMIAN J. TROISE and STAN CHOE

Stocks fell sharply Wednesday as unease flared in far-ranging corners of financial markets, and Wall Street gave back a big chunk of the gains it had built in a rally running up to Election Day.

The S&P 500 lost 2.1%, or 79.54 points, to 3,748.57 and erased most of its gain from what had been a three-day winning streak. The Dow Jones Industrial Average fell 646.89 points, or 2%, to 32,513.94, while the Nasdaq composite tumbled 263.02, or 2.5%, to 10,353.17.

Several sources of disappointment were behind the drops. Worries rose about possible spillovers into other markets from the crypto industry’s latest crisis of confidence, where prices are plunging again, while a batch of sour profit reports from big-name companies like The Walt Disney Co. also hurt stocks. There’s also still uncertainty about whether Tuesday’s elections will result in a Congress that would prevent the kinds of sweeping economic changes that make Wall Street nervous

Looming over all of it is a report scheduled for Thursday, when the U.S. government will show just how bad inflation was across the country. That reading will likely have a big effect on how much further the Federal Reserve hikes interest rates to get inflation under control. Fears about such increases have been by far the dominant force shaking Wall Street this year.

“This is like a marathon and we’re in the early part of it,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

The Federal Reserve has already hiked its key overnight interest rate up to a range of 3.75% to 4%, up from virtually zero in March, and a growing number of investors expect it to top 5% next year.

By making it more expensive for people and companies to borrow money, the Fed is intentionally slowing the economy and jobs market in hopes of stamping down inflation near its highest level in four decades. But the Fed threatens to create a recession if it goes too far, and high rates in the meantime drag down on prices for stocks and all kinds of investments.

Cryptocurrencies have felt some of the worst pain from the Fed’s whiplash move away from the record-low interest rates instituted during the pandemic’s recession. Bitcoin fell even further Wednesday, below $15,900 from its record of nearly $69,000 set last year. It’s down more than 14% over the last day.

This latest plunge for crypto, including a 17% drop for ethereum, comes amid worries about the financial strength of one of the industry’s biggest trading exchanges, FTX. A mega player in the industry, Binance, said late Wednesday it was walking away from a deal to buy its troubled rival, which needed a rescue after users began scrambling to pull their money out.

Binance said it made the move after doing its due diligence and looking at FTX’s accounting books, while also citing reports about how FTX handled its customers’ funds.

Earlier in the day, before Binance said it was nixing the deal, its CEO said that “FTX going down is not good for anyone in the industry.”

“Do not view it as a ‘win for us,’” Changpeng Zhao, who goes by his initials CZ, said in a letter to Binance employees that he posted on Twitter. “User confidence is severely shaken. Regulators will scrutinize exchanges even more.”

Stocks of companies embedded in the crypto economy also continued to sink. Robinhood Markets lost another 13.8% and is down 31.6% so far this week. Coinbase Global fell 9.5% to bring its drop for the week to 21.8%

Elsewhere on Wall Street, Disney sank 13.2% for the largest loss in the S&P 500 after reporting results for the latest quarter that fell well short of analysts’ expectations.

Facebook parent Meta Platforms was one of Wednesday’s rare bright spots for investors. It rose 5.2% after saying it will cut costs by laying off 11,000, or about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes. It nevertheless is still down nearly 70% for the year so far.

The yield on the 10-year Treasury, which helps dictate rates for mortgages and other loans, fell to 4.08% from 4.13% late Tuesday. The two-year yield, which tends to more closely track expectations for Fed action, dropped to 4.60% from 4.66%.

*Market watch*

ASX 200 futures down 50 points or 0.72% to 6936 at 08:00:02-am AEDT

The S&P 500 lost 2.1%, or 79.54 points, to 3,748.57 and erased most of its gain from what had been a three-day winning streak. The Dow Jones Industrial Average fell 646.89 points, or 2%, to 32,513.94, while the Nasdaq composite tumbled 263.02, or 2.5%, to 10,353.17.


----------



## UMike

Pre Empting.....

WOW.......


----------



## bigdog

Asian stocks surge after lower US inflation eases rate fears
					

BEIJING (AP) — Asian stock markets surged Friday after U.S. inflation eased  by more than expected, spurring hopes the Federal Reserve might scale down plans for more interest rate hikes.




					apnews.com
				




Wall Street surges, Dow up 1,200 points on cooling inflation​By STAN CHOE

Wall Street blasted off Thursday to soar to its best day in more than two years as exhilaration swept through markets after a report showed inflation in the United States eased last month by even more than expected.

The S&P 500 surged 5.5%, while the Dow Jones Industrial Average leaped 1,200 points and the Nasdaq composite packed what could be a year’s worth of gains into one day by roaring 7.4% higher.

Prices jumped for everything from metals to European stocks as investors took the data as a sign that the worst of high inflation may finally be behind us, though analysts cautioned it’s still premature to declare victory. Even bitcoin rose to claw back some of its steep plunge from prior days caused by the crypto industry’s latest crisis of confidence.

Some of the most dramatic action was in the bond market, where Treasury yields tumbled sharply as investors pared bets for how aggressive the Federal Reserve will be in hiking interest rates to get inflation under control. Such hikes have been the main reason for Wall Street’s struggles this year and are threatening a recession.

The yield on the 10-year Treasury, which helps set rates for mortgages and other loans, fell to 3.82% from 4.15%. It’s a dramatic move for the bond market, and the yield was on track for its biggest daily drop since 2009, according to Tradeweb. The two-year yield, which more closely tracks expectations for Fed action, fell to 4.32% from 4.62% and was on pace for its sharpest fall since 2008.

All the action stemmed from a U.S. government report showing that inflation slowed in October for a fourth straight month since hitting a peak of 9.1% in June. The reading of 7.7% was better than the 8% economists were expecting.

Perhaps more importantly, inflation also slowed more than expected after ignoring the effects of food and energy prices. That’s the measure the Fed pays closer attention to. So did inflation between September and October.

“The month-on-month rate of inflation is much more informative,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments. “On that measure, inflation is still high, but not scary high.”

Slower inflation could keep the Fed off the most aggressive path in raising interest rates. It’s already raised its key rate to a range of 3.75% to 4%, up from virtually zero in March.

By raising rates, the Fed is intentionally trying to slow the economy and jobs market in hopes of undercutting inflation, which hit a four-decade high in the summer. The risk is that it can create a recession if it goes too far, and higher rates drag down on prices for stocks and other investments in the meantime.

Higher rates have particularly hit high-growth tech stocks, cryptocurrencies and other investments seen as the riskiest or most expensive.

Big Tech stocks were some of the most buoyant forces on Wall Street following the inflation report. Apple rose 8.9%, Microsoft climbed 8.2% and Amazon soared 12.2%.

The Nasdaq composite, which is full of tech-oriented stocks, soared to its best day since March 2020, when Wall Street was in the midst of its frenzied recovery from the crash caused by the coronavirus. The broader S&P 500, which sits at the heart of many 401(k) accounts, had its best day since April 2020.

The S&P 500 climbed 207.80 points to 3,956.37. The Dow gained 1,201.43, or 3.7%, to 33,715.37, and the Nasdaq shot up 760.97, or 7.4%, to 11,114.15.

Homebuilders and other companies in the housing industry were also strong on hopes the Fed will take it easier on rate hikes that have already sent mortgage rates to industry-punishing levels. PulteGroup jumped 13.5%, and Lennar rose 12.6% for some of the bigger gains in the S&P 500.

Slower inflation could get the Federal Reserve to downshift the size of its rate hikes at its next policy meeting in December, after it pushed through four straight mega increases of 0.75 percentage points. That could open the way for the Fed to return to the more typical increases of 0.25 percentage points before pausing hikes completely

Following Thursday’s inflation report, traders increasingly shifted into bets for the Fed to raise rates by only 0.50 percentage points next month, instead of a bigger hike.

While Thursday’s report on inflation was encouraging, analysts cautioned the Fed’s campaign against high inflation is likely still far from over. Inflation data has also given false hope before, only to reaccelerate again.

“The Fed was adamant that it won’t hit the brakes on rate hikes until inflation slows, and while the market’s rally indicates investors may see light at the end of the tunnel, it will get one more reading before its decision next month,” said Mike Loewengart, head of model portfolio construction at Morgan Stanley Global Investment Office. “Remember that even as we see a slowdown, prices remain elevated and have a long way to go before normalizing.”

Another potentially market-shaking report will hit Wall Street Friday, when the latest reading arrives on how much inflation U.S. households see coming in future years. Fed Chair Jerome Powell has said he’s paying particularly close attention to such expectations.

One of the reasons the Fed has been so aggressive about hiking rates is because it wants avoid a debilitating cycle where expectations for high inflation push people to change their behaviors in ways that lead to even higher inflation

*Market watch*

ASX 200 futures up 200 points or 2.88% to 7,148 at 07:59:59-am AEDT

The S&P 500 surged 5.5%, while the Dow Jones Industrial Average leaped 1,200 points and the Nasdaq composite packed what could be a year’s worth of gains into one day by roaring 7.4% higher.

The S&P 500 climbed 207.80 points to 3,956.37. The Dow gained 1,201.43, or 3.7%, to 33,715.37, and the Nasdaq shot up 760.97, or 7.4%, to 11,114.15.


----------



## bigdog

NYSE Dow Jones finished today at:
					

https://apnews.com/article/inflation-asia-sydney-hong-kong-stock-markets-a6c83580d8dc896d55991499c1956e0b  Stocks end lower as the Fed continues to fight inflation By DAMIAN J. TROISE and ALEX VEIGA  Stocks racked up more losses on Wall Street and Treasury yields again rose to multiyear highs...




					www.aussiestockforums.com
				




Wall Street rallies for best week since June on rate hopes​By STAN CHOE

Wall Street piled more gains Friday onto its mammoth rally from a day earlier to close out its best week since the summer.

The S&P 500 rose 0.9% a day after soaring 5.5% for its best day in more than two years. The Dow Jones Industrial Average added 32 points to its surge of more than 1,200 from a day earlier, while the Nasdaq composite jumped 1.9%.

Markets got a boost after China relaxed some of its strict anti-COVID measures, which have been hurting the world’s second-largest economy. Hopes for more growth from China helped not only stocks but also oil prices to rise, with U.S. crude gaining 2.9% to $88.96 per barrel.

The main reason for this week’s euphoria in markets was a report on Thursday showing inflation in the United States slowed by more than expected last month. That raised hopes the worst of inflation may have passed and the Federal Reserve can be less aggressive about raising interest rates to get it under control, though analysts cautioned high inflation could be slow to fall and some called Wall Street’s big rally overdone.

What the Fed does with rates is crucial for Wall Street because hikes slow the economy and can cause a recession, all while dragging down on stock prices. They’ve been the main reason for markets’ struggles this year

Perhaps just as important as how bad inflation is at the moment is how high U.S. households see it being in future years. That’s because too-high expectations can trigger a vicious cycle where people accelerate purchases and make other moves that inflame inflation further.

The Fed has said preventing such a doom loop is one of the reasons it’s moved so aggressively on rate hikes. Inflation expectations are currently high relative to history, but a preliminary report on Friday suggested they’re not moving very much.

The median expectation for inflation in the coming year among households rose to 5.1% from 5% a month earlier, according to a survey by the University of Michigan. Expectations for long-run inflation, meanwhile, ticked up to 3%. But that’s still within the same 2.9% to 3.1% range where they’ve been for 15 of the last 16 months.

High inflation helped knock down the survey’s reading for overall consumer sentiment by more than economists expected.

“The consumer is laser-focused on inflation and they’re feeling it every day,” said Brian Price, head of investment management at Commonwealth Financial Network. “I wouldn’t expect that we see any upside with regard to consumer sentiment until inflation comes under control.”

The Fed has already lifted its key overnight interest rate to a range of 3.75% to 4%, up from basically zero in March. The likely scenario is still for it to hike further into next year, and then to hold rates at that high level for some time.

The hope for markets is that a softening in inflation could mean the Fed will hold the line at a lower, less painful level for investors than it would have otherwise.

“They’ve been pretty clear all along they were going to front-load the interest rate increases,” Price said. “They need some time to evaluate the data over the next few months.”

Traders are increasingly betting the federal funds rate could top out around a range of 4.75% to 5% by early next year, according to CME Group. A week ago, they saw a higher ultimate rate as more likely, with a sizable chunk expecting something like 5.25% to 5.50%.

Bond markets were closed for trading in observance of Veterans Day. On Thursday, yields plunged as investors pared back their expectations for how aggressively the Fed will raise rates.

The S&P 500 rose 36.56 points to 3,992.93, and its 5.9% gain for the week was its third in the last four and its biggest since June. The Dow rose 32.49, or 0.1%, to 33,747.86, and the Nasdaq climbed 209.18, or 1.9%, to 11.323.33. Both also notched hefty gains for the week.

The market has routinely reacted with exaggerated swings following each month’s inflation data report, according to Jonathan Golub, chief U.S. equity strategist at Credit Suisse. And while Thursday’s report “was clearly a big positive, the market’s response appears out of sync with the size of the surprise.”

Companies that do a lot of business in China and around the region were particularly strong Friday following the relaxation of anti-COVID restrictions. Wynn Resorts rose 8.3%, and Las Vegas Sands gained 5.5%.

Tapestry rose 8.7% and Ralph Lauren rose 9.4% to also help lead the S&P 500 higher. Both companies reported stronger profits for the latest quarter than expected.

On the losing end were health care companies. Elevance Health dropped 5.8%, and Cigna fell 6%.

In the crypto market, meanwhile, prices sank again amid the industry’s latest crisis of confidence. One of the bigger trading platforms, FTX, filed for bankruptcy protection after its users began scrambling to pull out their money on fears about its financial strength and after a bigger rival nixed a deal to buy the troubled company.

The exchange and its founder are under investigation by the Department of Justice and Securities and Exchange Commission, and rivals have said FTX’s failure could dent confidence in the broader industry.

Bitcoin fell below $16,800, down 6% from a day earlier, according to CoinDesk. It set its record of nearly $69,000 almost exactly a year ago, and it was above $21,000 a week ago.


----------



## bigdog

*Market watch*

ASX futures up 44 points or 0.61% to 7202 on Saturday

On Friday, the S&P 500 rose 0.9% a day after soaring 5.5% for its best day in more than two years. The Dow Jones Industrial Average added 32 points to its surge of more than 1,200 from a day earlier, while the Nasdaq composite jumped 1.9%.


----------



## bigdog

Wall Street slips, gives back some of last week’s big gains
					

NEW YORK (AP) — Stocks fell on Wall Street Monday, giving back some of their huge gains made last week on hopes the worst of the nation’s inflation may finally have passed. The S&P 500 fell 0.9%, or 35.68 points, to 3,957.25 after drifting between gains and losses several times through the day.




					apnews.com
				




Wall Street slips, gives back some of last week’s big gains​By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — Stocks fell on Wall Street Monday, giving back some of their huge gains made last week on hopes the worst of the nation’s inflation may finally have passed.

The S&P 500 fell 0.9%, or 35.68 points, to 3,957.25 after drifting between gains and losses several times through the day. The Dow Jones Industrial Average lost 0.6%, or 211.16, to 33,536.70, and the Nasdaq composite fell 1.1%, or 127.11, to 11,196.22.

The losses follow Wall Street’s best week since June, when the S&P 500 surged 5.9% after encouraging data on inflation sparked speculation the Federal Reserve may ease up on its fusillade of interest-rate hikes meant to get prices under control. Such rate hikes have raised worries about a possible recession, while also dragging down prices for stocks, bonds and cryptocurrencies.

Some analysts have called Wall Street’s recent rally overdone, including a 5.5% surge for the S&P 500 on Thursday alone, saying one report does not mean the coast is clear, even if it was encouraging. Some officials at the Federal Reserve have also urged caution, with Fed Governor Christopher Waller saying the better-than-expected reading on inflation for October “was just one data point” and that “everybody should just take a deep breath.”

Such warnings weighed on stocks Monday, as did a rise in Treasury yields. But the market also got a brief boost after Fed Vice Chair Lael Brainard gave comments that investors took as a hint that the steepest of the Fed’s rate hikes may have passed.

“The inflation data was reassuring, preliminarily,” she said. “It will probably be appropriate, soon, to move to a slower pace of rate increases.”

In each of its last four meetings, the Fed has hiked its key overnight rate by a big 0.75 percentage points, which is triple the usual amount. Bets have increased since last week’s inflation report that the Fed’s next move will be an increase of only 0.50 percentage points. While that’s still a big increase relative to history, investors are starving for any indication the Fed may ease up on its rate hikes.

Even before last week’s report on inflation, Fed Chair Jerome Powell already said such a dial down in the size of rate hikes may be imminent. But he also said the Fed nevertheless could still ultimately take rates higher than earlier expected, and that it may hold rates at that high level a while to make sure inflation stays under control.

Fed officials have been reiterating how the Fed’s campaign against high inflation still looks to be a long one.

“Quit paying attention to the pace and start paying attention to where the endpoint is going to be,” Waller said. “Until we get inflation down, that endpoint is still a ways out there.”

On Wall Street, Hasbro fell 9.9% for the largest loss in the S&P 500 index. Analysts in a BofA Global Research report raised concerns the company may be overproducing cards for its “Magic: The Gathering” game, threatening to undercut a lucrative business.

On the winning side was Moderna, which climbed 4.6% after reporting encouraging data on its bivalent vaccine targeting COVID-19.

Bond yields rose. The yield on the 10-year Treasury, which helps set mortgage rates, rose to 3.87% from 3.81% late Thursday. Bond markets were closed Friday for Veterans Day.

Crypto-related stocks kept whipsawing following the implosion last week of FTX, a major crypto trading exchange. Coinbase, another crypto exchange platform, fell 7.4%.

Several economic reports due this week could offer more clues about where inflation is heading.

On Tuesday, the government will issue its October report on prices at the wholesale level. Economists say inflation there likely slowed to 8.3% from September’s 8.5% rate for year-over-year price changes.

On Wednesday, markets will see how resilient U.S. households have been in their spending when the government gives its latest monthly update on sales at retailers.

Economists say retail sales likely grew 0.9% in October from a month earlier, a much stronger showing than September’s flat performance. The data, though, does not take inflation into account and could be a reflection of nothing more than higher prices being charged at the register.

Retailers could offer more color on that, with a long line of them scheduled to say this week how much profit they earned during the summer.

Home Depot and Walmart report earnings on Tuesday. Target reports its results on Wednesday, and Macy’s reports results on Thursday.

*Market watch

ASX futures 200 down 33 points or 0.46% to **7,113.0** at 07:59:41am AEDT*

The S&P 500 fell 0.9%, or 35.68 points, to 3,957.25 after drifting between gains and losses several times through the day. The Dow Jones Industrial Average lost 0.6%, or 211.16, to 33,536.70, and the Nasdaq composite fell 1.1%, or 127.11, to 11,196.22.


----------



## bigdog

Asian shares fall on jitters over missile landing in Poland
					

TOKYO (AP) — Asian shares were mostly lower Wednesday, as investors got jittery over global risks after Poland said a Russian-made missile killed two people there.  Benchmarks fell in morning trading in Tokyo, Sydney, Seoul and Hong Kong, while shares were little changed in Shanghai.




					apnews.com
				




Stocks rise on cooling inflation data after up-and-down day​By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — Stocks rose on Wall Street Tuesday following more signs the nation’s punishingly high inflation may be falling off faster than expected.

The S&P 500 climbed 0.9%, or 34.48 points, to 3,991.73, though it went on another unsettling ride to get there. A flare-up of worries about the war in Ukraine caused a brief pullback in markets during the afternoon, forcing the S&P 500 to swing from an early gain of 1.8% all the way to a loss of 0.1% before it recovered.

The Dow Jones Industrial Average veered from a gain of 450 points to a loss of 216 before closing at 33,592.92, up 56.22 points, or 0.2%. The Nasdaq composite led the market with a gain of 1.4%, or 162.19 points, to close at 11,358.41.

When Wall Street opened for trading, the overall mood was ebullience as stocks bounced following the latest data suggesting inflation continues to cool from its summertime peak. A meeting between the presidents of the world’s two largest economies also raised hopes for an easing of U.S.-Chinese tension after analysts called it better than expected.

The S&P 500 touched its highest level in two months, while Treasury yields eased on hopes a slowdown in inflation could mean the Federal Reserve’s bitter, economy-crunching medicine for it could taper as well.

But the gains for stocks disappeared following reports that apparent Russian missiles crossed into Poland, which is a member of NATO.

Prices for crude oil jumped as stock prices fell, an indication traders were building bets for aftershocks from an escalation in the war in Ukraine. Beyond the human toll, a worsening war could cause spikes in prices for oil, gas and other commodities that the region produces, which could worsen inflation.

Stocks then recovered and began climbing anew as the afternoon progressed.

“Inflation is still top of mind and market moving,” said Nate Thooft, senior portfolio manager at Manulife Investment Management. “Anything that potentially swings the inflation story, the market is keen to react.”

Such sharp hourly swings for stocks have almost become the norm on Wall Street this year, as high inflation and interest-rate hikes by the Federal Reserve have heightened fears and triggered knee-jerk reactions. “The market remains adrift looking for a good narrative that will stick but seemingly not finding it,” Thooft said.

Through Tuesday’s swings, technology stocks continued to lead the way on Wall Street.

They’re usually some of the most sensitive to changes in interest rates, as rises in rates hit hardest on stocks seen as the most expensive, most risky or forcing investors to wait the longest for big growth.

Chipmaker Nvidia rose 2.3%, and Apple gained 1.2%.

Traders have been paring their bets for how big a hike the Fed will announce at its next policy meeting in December. Such speculation started in earnest after a report last week showed inflation at the consumer level slowed more than expected in October.

On Tuesday, hopes built further after a separate report showed inflation at the wholesale level eased back to 8% in October from 8.4% a month earlier. That was even better than the 8.3% economists were expecting.

“The improvement is simply encouraging,” said Mark Hackett, chief of investment research at Nationwide. “More importantly, what it’s doing is taking universal pessimism and starting to put some holes in that theory.”

The Fed has already hiked its key overnight rate up to a range of 3.75% to 4% from virtually zero earlier this year. It has said it still plans to hike rates further and then to hold them at that high rate for a while in order to grind down inflation. The hope for markets is that the recent improvements in inflation data could mean the Fed ends up holding rates at a level that’s not as punishing for Wall Street.

Rate increases can cause a recession because they slow the economy, and they also drag down prices of stocks and other investments.

Bond yields, which have been hovering near multidecade highs, eased. The yield on the two-year Treasury fell to 4.34% from 4.40% late Monday. The yield on the 10-year Treasury, which influences mortgage rates, fell to 3.76% from 3.85%.

Investors will get more updates on inflation’s impact on businesses and consumers this week with corporate earnings from big retailers.

Walmart jumped 6.5% after reporting strong financial results, raising its profit forecast and announcing an opioid settlement.

Target reports its results on Wednesday, and Macy’s reports its results on Thursday.

Wall Street will get a broader update on retail sales Wednesday when the government releases its report for October.

*Market watch*

ASX futures down 2 points to 7151 at 6.30am AEDT

The S&P 500 climbed 0.9%, or 34.48 points, to 3,991.73, though it went on another unsettling ride to get there. A flare-up of worries about the war in Ukraine caused a brief pullback in markets during the afternoon, forcing the S&P 500 to swing from an early gain of 1.8% all the way to a loss of 0.1% before it recovered.

The Dow Jones Industrial Average veered from a gain of 450 points to a loss of 216 before closing at 33,592.92, up 56.22 points, or 0.2%. The Nasdaq composite led the market with a gain of 1.4%, or 162.19 points, to close at 11,358.41.


----------



## bigdog

Asian benchmarks mostly decline amid lingering China worries
					

TOKYO (AP) — Asian shares mostly declined Thursday amid concerns about the impact of China's “zero-COVID” strategy mixed with hopes for economic activity and tourism returning to normal.  Benchmarks fell in Tokyo, Seoul, Hong Kong and Shanghai, while gaining in Sydney.




					apnews.com
				




Wall Street slips as Target stumbles and weighs on retailers​By DAMIAN J. TROISE and ALEX VEIGA

Retailers and technology companies led a broad slide for stocks Wednesday after a dismal financial report from Target overshadowed a positive retail sector report from the government.

The S&P 500 fell 0.8%, wiping out most of its gains from a day earlier. The Dow Jones Industrial Average fell 0.1% and the Nasdaq lost 1.5%.

Discouraging quarterly updates from Target and other retailers put investors in a selling mood, despite a report showing that U.S. retail sales remained strong last month.

Target slumped 13.1% after cutting its forecasts for the holiday season following a surprisingly big drop in its third-quarter profits. The retailer also cut its forecasts for the holiday season and said its sales slowed sharply in recent weeks.

“I think the market might be saying the broader data that we have is OK, but what Target is saying is a little more forward-looking in terms of what they expect for the holiday season, and that might not be so good,” said Willie Delwiche, investment strategist at All Star Charts.

Other retailers also helped drag the market lower. Advance Auto Parts fell 15.1% after reporting weak financial results. Best Buy slumped 8.6%. Macy’s, which reports its financial results on Thursday, fell 8.1%

Big technology companies also fell. Chipmaker Micron Technology dropped 6.7% after announcing some production cuts because of weak demand. Nvidia fell 4.5%.

All told, the S&P 500 fell 32.94 points to 3,958.79. The Dow slid 39.09 points to 33,553.83. The tech-heavy Nasdaq dropped 174.75 points to 11,183.66.

Smaller company stocks also lost ground. The Russell 2000 index fell 36.04 points, or 1.9%, to 1,853.17.

Wall Street has been closely watching the latest economic updates, including reports that consumer and wholesale prices continue to cool. Much of the market’s prior rally was due to hopes inflation is easing, which could portend less aggressive hikes for interest rates from the Federal Reserve.

The Fed has been raising interest rates in an effort to slow the economy and tame the hottest inflation in decades. Wall Street is worried that it could hit the brakes too hard on economic growth and bring on a recession.

The latest government report on retail sales for October shows that consumer spending remains strong, though it’s unclear whether that’s because of more purchases or higher prices.

Strong consumer spending is typically a good sign for the economy, but it could make the Fed’s strategy of cooling the economy more difficult. The central bank has already hiked its key overnight rate up to a range of 3.75% to 4% from virtually zero earlier this year. It has said it still plans to hike rates further and then to hold them at that high rate for a while in order to grind down inflation.

“The better-than-expected retail sales results don’t bolster the case that the Fed” can ease up on its campaign to slow the economy with high interest rates, said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management.

He said resilient consumer spending could improve the possibility that the Fed manages to pull off a so-called “soft landing” with its strategy. That would involve taming inflation without throwing the economy into a recession, or at least avoiding a damaging recession

Bond yields were mixed. The yield on the 10-year Treasury, which influences mortgage rates, fell to 3.69% from 3.78% from late Tuesday. The yield on the two-year Treasury rose to 4.37% from 4.35% from late Tuesday.

Markets in Europe fell as investors watched developments in Russia’s war against Ukraine. Geopolitical tensions had flared a day earlier after a missile fell on farmland in Poland, a NATO member, killing two people. NATO’s chief and the president of Poland said there are no indications that the missile was a deliberate attack, adding that Ukraine likely launched the Soviet-era projectile as it was fending off a Russian air assault.

“There is nothing, absolutely nothing, to suggest that it was an intentional attack on Poland,” said Polish President Andrzej Duda

The conflict is hanging over the energy market. A worsening war in Ukraine could cause spikes in prices for oil, gas and other commodities that the region produces. U.S. crude oil prices initially rose, before settling 1.5% lower.

*MARKET WATCH*

ASX 200 futures down 36 points OR 0.5 % to 7,116  at 08:00:04 am AEDT

The S&P 500 fell 0.8%, wiping out most of its gains from a day earlier. The Dow Jones Industrial Average fell 0.1% and the Nasdaq lost 1.5%.

All told, the S&P 500 fell 32.94 points to 3,958.79. The Dow slid 39.09 points to 33,553.83. The tech-heavy Nasdaq dropped 174.75 points to 11,183.66.


----------



## CityIndex

The S&P500 looks to be building a consolidation just below its monthly R1, and it could be worth pointing out that other major indices are actually seeing similar price action.

The NASDAQ100 also appears to have run into selling pressure above its monthly R1, while the ASX200 and FTSE100’s respective rebounds have stalled at their R2s.

Of course, all trading carries risk, and there are a variety of fundamental factors driving market direction. But from a technical standpoint, this could be a sign of the post-US CPI rally topping out.


----------



## eskys

Our market looks unusual/odd today. Stocks appear to be stuck and not moving. The heat map looks ok but All Ords only up 6 points at this stage. Has malaise and lethargy set in?


----------



## bigdog

Asian stocks mixed after Wall St falls on rate hike worries
					

BEIJING (AP) — Asian stocks were mixed Friday after Wall Street declined following indications the Federal Reserve might raise interest rates higher than expected to cool inflation. Shanghai declined while Tokyo and Hong Kong advanced.




					apnews.com
				




Stocks fall as Fed signals rates need to go still higher​By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed lower on Wall Street and Treasury yields rose Thursday afternoon after more indications from the Federal Reserve that it may need to raise interest rates much higher than many people expect to get inflation under control.

The S&P 500 fell 0.3%, with retailers and banks among the biggest weights on the benchmark index. The Dow Jones Industrial Average slipped less than 0.1%, while the Nasdaq composite closed 0.3% lower.

Decliners outnumbered gainers on the New York Stock Exchange by nearly a 2-to-1 margin. Smaller company stocks fell harder than the rest of the market, pulling the Russell 2000 index 0.8% lower.

Bond yields rose and hovered around multidecade highs. The yield on the two-year Treasury note rose to 4.45% from 4.37% late Wednesday. The yield on the 10-year Treasury, which influences rates on mortgages and other consumer loans, rose to 3.77% from 3.69% late Wednesday.

The Fed has been raising rates aggressively in order to tame inflation by applying the brakes to the economy. Investors have been hoping that more signs of easing inflation could help the central bank shift to less aggressive rate increases.

The central bank, though, has been clear about its intent to keep raising rates, possibly to unexpectedly high levels, to tame inflation. James Bullard, who leads the Federal Reserve Bank of St. Louis, reaffirmed that position in a presentation on Thursday, suggesting the Fed’s short-term rate may have to rise to a level between 5% and 7% in order to quash stubbornly hot inflation. The central bank has already raised its key rate to a range of 3.75% to 4%, up from nearly zero as recently as last March

“Bullard’s comments this morning suggesting that they need to get the fed fund (rate) between 5% and 7% was a surprise, to say the least, to markets,” said Scott Ladner, chief investment officer at Horizon Investments. “That certainly was a shock to folks and pushed us further down.”

The S&P 500 fell 12.23 points to 3,946.56. The Dow dropped 7.51 points to 33,546.32. The Nasdaq lost 38.70 points to close at 11,144.96. The Russell 2000 index fell 14.04 points to 1,839.12. The major indexes are all headed for weekly losses.

The presentation from Bullard follows reports showing that inflation is starting to ease somewhat, but still remains extremely hot as consumers continue spending amid a very strong jobs market. Strong spending and employment remain a potential bulwark against the economy slipping into a recession. It also means the Fed will likely remain aggressive and raises the risk that it will hit the brakes hard enough on the economy to actually bring on a recession.

Stock markets “got a little bit ahead of themselves” after getting encouraging reports on consumer and wholesale prices easing a bit, said Ross Mayfield, investment strategist at Baird. “But, the Fed knows they have a long way to go.”

“When you have the (Fed) statement already laying it out and someone like Bullard saying what he said, there is a little bit of jawboning markets back down and letting investors know this fight is not over.”

Outside of concerns about inflation, the market is also worried about Russia’s war in Ukraine and lockdowns in China hurting the global economy.

The conflict in Ukraine has been weighing on the energy sector and any worsening could cause spikes in prices for oil, gas and other commodities that the region produces. U.S. oil prices fell 4.6%.

China’s “zero-COVID” approach has caused a supply crunch for some of Asia’s biggest manufacturers, denting economic growth.

Markets in Asia and Europe fell.

Companies are also wrapping up the latest round of earnings reports. Macy’s jumped 15% after beating analysts’ quarterly financial forecasts and raising its earnings outlook.

Retailer Bath & Body Works soared 25.2% after reporting strong financial results.

*Market watch*

ASX 200  futures up 31 points or 0.43% to 7161 at 07:59:57 AEDT

The S&P 500 fell 12.23 points to 3,946.56. The Dow dropped 7.51 points to 33,546.32. The Nasdaq lost 38.70 points to close at 11,144.96. 

The S&P 500 fell 0.3%, with retailers and banks among the biggest weights on the benchmark index. The Dow Jones Industrial Average slipped less than 0.1%, while the Nasdaq composite closed 0.3% lower.


----------



## bigdog

Stocks end higher on Wall Street but still fall for the week
					

A late-afternoon rally on Wall Street helped stocks close higher Friday, though the major indexes still wound up finishing lower for the week after several days of bumpy trading. The S&P 500 rose 0.5% after wavering between small gains and losses for much of the day.




					apnews.com
				




Stocks end higher on Wall Street but still fall for the week​By DAMIAN J. TROISE and ALEX VEIGA

A late-afternoon rally on Wall Street helped stocks close higher Friday, though the major indexes still wound up finishing lower for the week after several days of bumpy trading.

The S&P 500 rose 0.5% after wavering between small gains and losses for much of the day. The Dow Jones Industrial Average rose 0.6% and the Nasdaq composite ended essentially flat after swinging between a 1% gain and an 0.8% drop.

Several big retailers made solid gains after reporting strong quarterly results and gave investors encouraging financial forecasts. Discount retailer Ross Stores surged 9.9% for the biggest gain among S&P 500 stocks, while clothing retailer Gap rose 7.6% after beating analysts’ expectations. Foot Locker climbed 8.7% after raising its profit and revenue forecast for the year.

The solid earnings from retailers cap off a shaky week for Wall Street as investors try to get a better sense of inflation’s path and its impact on consumers and businesses. Investors have been particularly anxious about the Federal Reserve’s fight against inflation and have been looking for signs that might allow the central bank to shift to less aggressive interest rate increases. That anxiety was heightened on Thursday after a Fed official suggested U.S. interest rates might have to be raised higher than expected to cool inflation.

“It’s all been the same story for a year,” said Keith Buchanan, portfolio manager at Globalt Investments. “It’s about what inflation is doing, how the Fed responds, and from there how does the consumer respond.”

The S&P 500 rose 18.78 points to 3,965.34. The Dow rose 199.37 points to 33,745.69. The Nasdaq added 1.10 points, or less than 0.1%, to close at 11,146.06.

Smaller company stocks also gained ground. The Russell 2000 rose 10.61 points, or 0.6%, to 1,849.73.

The major indexes all finished down for the week and remain sharply lower so far this year.

Trading has been choppy this month as investors have weighed company earnings reports, economic data and signals from the Federal Reserve as to what the central bank will do next in its fight to lower inflation.

The central bank has already warned that its short-term interest rate may have to rise to a more painful level than anybody had anticipated, possibly between 5% and 7%. The Fed’s benchmark rate currently stands at 3.75% to 4%, up from close to zero in March

The Fed is trying to tame the hottest inflation in decades by making borrowing more difficult and curtailing spending. Several big measures of inflation have shown that prices are easing a bit, but other economic indicators show that consumers remain resilient, as does the jobs market.

The central bank’s strategy risks sending the economy into a recession if it hits the brakes too hard on economic growth. The latest mix of inflation and economic data has Wall Street trying to gauge whether the Fed needs to keep pushing along with interest rate increases and whether it can achieve its goal without severely crimping consumer spending or employment.

The U.S. reported this week that retail sales rose 1.3% in October as Americans increase their spending at stores, restaurants, and auto dealers, a sign of consumer resilience as the holiday shopping season begins. That’s not to say consumer behavior hasn’t been affected by inflation. Major retailers say Americans are holding out for sales, refusing to pay full price, with the cost of gasoline, rent, food and almost everything else much higher than it was last year.

Most of the 11 company sectors in the benchmark S&P 500 rose, with health care and financial stocks accounting for a big share of the gains. UnitedHealth Group rose 2.9% and Charles Schwab added 2.5%.

Losses by energy and communications companies kept the market’s gains in check. Marathon Oil fell 1.6% amid a broad pullback in energy prices. U.S. crude oil settled 1.9% lower. Live entertainment promoter and venue operator Live Nation slumped 7.8%.

Several homebuilders and other real estate companies lost ground following a report showing that sales of previously occupied U.S. homes fell in October for the ninth month in a row, the latest sign that the housing market is slowing as homebuyers grapple with sharply higher mortgage rates, rising home prices and fewer properties on the market. Zillow Group fell 5.5% and homebuilder Hovnanian Enterprises slid 0.7%.

European markets closed higher. Asian markets closed mixed overnight.

Bond yields rose. The yield on the 10-year Treasury, which influences mortgage rates, rose to 3.82% from 3.77%.


----------



## bigdog

*Market watch*

ASX 200 futures up 36 points or 0.51% to 7192 at 19/11-Closed.

The S&P 500 rose 0.5% after wavering between small gains and losses for much of the day. The Dow Jones Industrial Average rose 0.6% and the Nasdaq composite ended essentially flat after swinging between a 1% gain and an 0.8% drop

The S&P 500 rose 18.78 points to 3,965.34. The Dow rose 199.37 points to 33,745.69. The Nasdaq added 1.10 points, or less than 0.1%, to close at 11,146.06.


----------



## CityIndex

bigdog said:


> ASX 200 futures up 36 points or 0.51% to 7192



Pretty strong rejection from the monthly R2 in early trade. 

Of course all trading involves risk, but, as mentioned on Thursday, it is interesting to see the index continuing to flash warnings around this key technical level that it may be forming a swing high.


----------



## bigdog

Asian stocks mixed after Wall St slide, China virus fears
					

BEIJING (AP) — Asian stock markets were mixed Tuesday after Wall Street sank and Chinese anti-virus controls fueled concern about an economic slowdown. Shanghai and Hong Kong declined while Tokyo advanced.




					apnews.com
				




Stocks end lower on Wall Street as tech weighs down Nasdaq​By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed lower on Wall Street Monday, as a slide in technology companies offset gains elsewhere in the market.

The S&P 500 fell 0.4% and the tech-heavy Nasdaq composite dropped 1.1%. The Dow Jones Industrial Average held up better, ending down just 0.1%

The Dow benefited from a 6.3% gain in Disney, which soared following news late Sunday that the entertainment giant had replaced CEO Bob Chapek with his predecessor, Bob Iger.

Tesla tumbled 6.8% for the biggest drop among S&P 500 stocks and briefly slumped to an intraday low of $167.54, the lowest point in two years. The electric car maker’s shares are down more than 50% this year on investor fear that CEO Elon Musk will be distracted by his $44 billion purchase of Twitter.

The market pullback adds to stock indexes’ losses from last week and followed news overnight from China, which announced its first new death from COVID-19 in nearly half a year as strict new measures are imposed in Beijing and across the country to ward against new outbreaks. China’s ongoing strict lockdown policies have been crimping economic growth in the world’s second largest economy and stressing businesses.

“Some of the negativity that we’ve seen today is largely due to the idea that demand coming out of China maybe won’t be as strong as as people expected,” said Liz Young, head of investment strategy at SoFi.

Casino operator Wynn Resorts, which has a large footprint in China, fell 2.2%. Las Vegas Sands slid 2.9%.

All told, the S&P 500 fell 15.40 points to 3,949.94. The Nasdaq slid 121.55 points to 11,024.51. The Dow slipped 45.41 points to 33,700.28.

Technology stocks were the biggest drag on the benchmark S&P 500. Apple slid 2.2% and Visa fell 2.1%.

Retailers and other companies that rely on consumer spending also weighed down the index, as did energy stocks, which followed a 0.4% dip in the price of U.S. crude oil. Target fell 3% and Exxon Mobil dropped 1.4%.

Household goods makers, banks and other areas of the market kept the losses in check. PepsiCo gained 1.9% and Capital One Financial rose 2.4%.

Smaller company stocks lost ground. The Russell 2000 index fell 10.59 points, or 0.6%, to 1,839.14.

European markets mostly fell, while Asian markets closed lower.

Bond yields fell. The yield on the 10-year Treasury, which influences mortgage rates, slipped to 3.82% from 3.83% late Friday.

Investors face a relatively quiet week. Markets in the U.S. will be closed on Thursday for Thanksgiving and will close early Friday.

The Federal Reserve will release minutes on Wednesday from its latest policy meeting and potentially give investors more insight into the central bank’s fight against inflation. The Fed remains a main focus for investors as it continues raising interest rates to fight stubbornly high prices on everything from food to clothing.

The Fed has said that it could tone down the size of its rate increase, but that it may have to ultimately raise rates to a higher-than-expected level to reach its goal of taming painfully high prices. Its benchmark rate currently stands at 3.75% to 4%, up from close to zero in March.

Wall Street is concerned that the Fed could go too far in raising interest rates, which could hit the brakes hard enough on the economy to skid it into a recession. Inflation has been easing somewhat while key points of the economy, including consumer spending and employment, remain strong.

Investors don’t have much economic news to review this week, but some late earnings and corporate updates could provide more insight into inflation’s path and ongoing impact.

Carvana fell 12.5% after saying it will slash its workforce by 8% as inflation and higher interest rates squeeze the auto market.

Electronics retailer Best Buy and discount retailer Dollar Tree will report their latest financial results on Tuesday. Farming equipment maker Deere will report its results on Wednesday.

*Market watch*

ASX 200 futures up 30 points or 0.4% to 7178 at 6.47am AEDT

The S&P 500 fell 0.4% and the tech-heavy Nasdaq composite dropped 1.1%. The Dow Jones Industrial Average held up better, ending down just 0.1%

All told, the S&P 500 fell 15.40 points to 3,949.94. The Nasdaq slid 121.55 points to 11,024.51. The Dow slipped 45.41 points to 33,700.28.


----------



## bigdog

*New York Thanksgiving holiday on Thursday*









						Asian shares gain after earnings-fueled rally on Wall Street
					

BANGKOK (AP) — Asian shares advanced on Wednesday after solid earnings pushed retailers higher on Wall Street ahead of the Thanksgiving holiday in the U.S.  Benchmarks rose in Hong Kong, Seoul and Sydney but fell in Shanghai.




					apnews.com
				




US stocks rise, strong earnings send retailers higher​By DAMIAN J. TROISE and ALEX VEIGA

Stocks on Wall Street closed broadly higher Tuesday, as solid company earnings helped lift several retailers ahead of the Thanksgiving holiday in the U.S.

The S&P 500 rose 1.4%, more than making up for its losses last week. The Dow Jones Industrial Average rose 1.2% and the Nasdaq composite gained 1.4%.

All the company sectors in the benchmark S&P 500 index rose, with technology stocks driving much of the rally. Chipmaker Nvidia rose 4.7%.

Financial and health care stocks also helped lift the market. Charles Schwab rose 1.6% and Pfizer added 1.9%.

Energy stocks notched the biggest gain as the price of U.S. crude oil rose 1.5%. Chevron rose 2.6%.

“Yesterday’s slow sell-off of energy was overdone,” said Jay Hatfield, CEO of Infrastructure Capital Advisors. “So you’re getting a bounce back in energy and that’s really leading the market.”

Long-term Treasury yields fell. The yield on the 10-year Treasury, which influences mortgage rates, slipped to 3.77% from 3.84% late Monday.

“When rates go down it’s great for all stocks,” Hatfield said.

The S&P 500 rose 53.64 points to 4,003.58. The Dow gained 397.82 points to 34,098.10. The tech-heavy Nasdaq climbed 149.90 points to 11,174.41.

Smaller company stocks also got a boost. The Russell 2000 rose 21.20 points, or 1.2%, to 1,860.44.

Investors have very little news to review this week, but several retailers and technology companies are closing out the latest round of corporate earnings with their financial results. Best Buy surged 12.8% after the electronics retailer did better than analysts expected and said a decline in sales for the year will not be as bad as it had projected earlier.

Dell Technologies rose 6.8% after the computer maker reported strong third-quarter profit and revenue. Zoom Video slumped 3.9% after giving investors a weak profit and revenue forecast.

Several retailers made particularly strong gains following solid financial results. Abercrombie & Fitch surged 21.4% and American Eagle jumped 18.2%.

Nearly every company in the S&P 500 has reported their latest financial results, according to FactSet, and the results have been mixed. Companies in the index have reported overall earnings growth of about 2%, but have also issued various warnings about weaker consumer demand and crimped sales as inflation continues squeezing consumers.

Inflation and the Federal Reserve’s fight to tame it remains the main concern for Wall Street. The central bank on Wednesday will release minutes from its latest policy meeting, potentially giving investors more insight into its decision-making process.

Wall Street has been hoping that the central bank might ease up on its aggressive rate increases. Its benchmark rate currently stands at 3.75% to 4%, up from close to zero in March.

The Fed has warned that it may have to ultimately raise rates to previously unanticipated level to cool the hottest inflation in decades. That strategy raises the risk that it could go too far in slowing economic growth and bring on a recession.

Worries about a recession continue hanging over the global economy and markets.

The Paris-based Organization for Economic Cooperation and Development is forecasting modest economic growth globally this year and more tepid growth in 2023. Russia’s war in Ukraine continues threatening energy supplies and key food commodities including wheat. A resurgence of COVID-19 cases in China continues threatening the world’s second-largest economy and global supply chains.

“In 2023, we expect less pain but also no gain,” stated a report from Goldman Sachs looking ahead to the new year.

The investment bank expects inflation and high interest rates to essentially flatten out corporate earnings and hold the broader stock market at its current levels, with the S&P 500 ending 2023 where it currently sits at around 4,000 points.

*Market Watch*
ASX 200 futures up 75 points or 1.04% to 7251 at 07:58:34 AEDT

The S&P 500 rose 1.4%, more than making up for its losses last week. The Dow Jones Industrial Average rose 1.2% and the Nasdaq composite gained 1.4%.

The S&P 500 rose 53.64 points to 4,003.58. The Dow gained 397.82 points to 34,098.10. The tech-heavy Nasdaq climbed 149.90 points to 11,174.41.


----------



## bigdog

*Thanksgiving US holiday on Thursday*









						Stocks gain ground on Wall Street ahead of US holiday
					

Stocks closed broadly higher on Wall Street Wednesday, after the minutes from the Federal Reserve's most recent policy meeting showed central bank officials agreed that smaller rate hikes would likely be appropriate “soon.”




					apnews.com
				




Stocks gain ground on Wall Street ahead of US holiday​By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed broadly higher on Wall Street Wednesday, after the minutes from the Federal Reserve’s most recent policy meeting showed central bank officials agreed that smaller rate hikes would likely be appropriate “soon.”

The S&P 500 rose 0.6%, while the Dow Jones Industrial Average gained 0.3%. The Nasdaq composite closed 1% higher.

Long-term Treasury yields fell. The yield on the 10-year Treasury, which influences mortgage rates, slipped to 3.69% from 3.76%.

At the Nov. 1-2 meeting, Fed officials expressed uncertainty about how long it might take for their rate hikes to slow the economy enough to tame inflation. And at a news conference afterward, Chair Jerome Powell stressed that that the Fed wasn’t even close to declaring victory in its fight to curb high inflation. Other Fed officials in the weeks since the meeting signaled that additional hikes would still be necessary.

Still, a “substantial majority″ of the officials felt that smaller rate hikes “would likely soon be appropriate,” according to the minutes of their meeting

That line of thinking is likely to stoke optimism among investors who have been trying to gauge how soon central bank officials would begin to dial back the aggressive pace of rate hikes in the Fed’s campaign to lower inflation

“Markets continue to hold onto gains as the Fed minutes reinforce what Fed speakers have been telegraphing since the November 1-2 meeting,” said Quincy Krosby, chief global strategist for LPL Financial. “That is that the Fed is stepping down in terms of rates, from the aggressive campaign of 75 basis points to 50 basis points most likely at the December 13-14 meeting.”

The central bank’s benchmark rate currently stands at 3.75% to 4%, up from close to zero in March. It has warned that it may have to ultimately raise rates to previously unanticipated levels to cool the hottest inflation in decades.

During their meeting, Fed officials also expressed uncertainty about how long it might take for their rate hikes to tame inflation, though some expressed hope that falling commodity prices and the unsnarling of supply chain bottlenecks “should contribute to lower inflation in the medium term.”

Wall Street has been closely watching the latest economic and inflation data for any signs that might allow the Fed to ease up on future rate increases. Investors are worried that the Fed could slam the brakes too hard on economic growth and bring on a recession

Consumer spending and the employment market have so far remained strong points in the economy. That has helped as a bulwark against a recession, but also means the Fed may have to remain aggressive.

The number of Americans applying for unemployment benefits rose last week to the highest level since August, but the figure still remains low by historic standards. A November survey from the University of Michigan shows that consumer sentiment grew from October by more than economists had expected.

Technology stocks and some big retailers helped drive a big share of the gains in the benchmark S&P 500 index Wednesday. Chipmaker Nvidia rose 3% and Target rose 3.5%.

Farming equipment maker Deere gained 5% after reporting stronger financial results than analysts were expecting.

Homebuilders rose broadly following a government report showing that sales of new U.S. homes rose more than expected in October. Lennar gained 1.6% and D.R. Horton rose 2.2%.

Crude oil prices fell 3.7%, which weighed down energy stocks. Hess fell 2.2%.

All told, the S&P 500 rose 23.68 points to 4,027.26. The Dow gained 95.96 points to 34,194.06. The Nasdaq rose 110.91 points to 11,285.32.

The Russell 2000 index of smaller companies edged higher, adding 3.08 points, or 0.2%, to close at 1,863.52.

European markets closed mostly higher and Asian markets closed mixed overnight.

Trading has been unsteady during the holiday-shortened week, but major indexes are on track for weekly gains. U.S. markets will be closed Thursday for Thanksgiving and will close early on Friday.


*Market Watch*
ASX 200 futures up 4 points or 0.1% to 7254 at 07:59:02 AEDT

All told, the S&P 500 rose 23.68 points to 4,027.26. The Dow gained 95.96 points to 34,194.06. The Nasdaq rose 110.91 points to 11,285.32.

The S&P 500 rose 0.6%, while the Dow Jones Industrial Average gained 0.3%. The Nasdaq composite closed 1% higher.


----------



## bigdog

*NYSE closed for Thanksgiving US holiday on Thursday*










						Global shares rise on Fed rate hopes despite China worries
					

TOKYO (AP) — Global shares gained Thursday, although optimism about the Federal Reserve holding back on aggressive interest rate raises was countered by some uncertainty about coronavirus restrictions in China .




					apnews.com
				




Global shares rise on Fed rate hopes despite China worries​By YURI KAGEYAMA

TOKYO (AP) — Global shares gained Thursday, although optimism about the Federal Reserve holding back on aggressive interest rate raises was countered by some uncertainty about coronavirus restrictions in China.

France’s CAC 40 edged up 0.1% in early trading to 6,685.49, while Germany’s DAX gained 0.3% to 14,474.23. Britain’s FTSE 100 gained 0.1% to 7,475.55. The future for the Dow industrials edged 0.2% higher. The future for the S&P 500 added 0.3%.

Trading has been unsteady during the holiday-shortened week. U.S. markets are closed Thursday for Thanksgiving and will close early on Friday.

“A headwind for Asian markets is the COVID situation in China, where investors seem to be avoiding local assets and commodities as the country is seeing near-record numbers of COVID cases. Broad restrictions will keep weighing on risk sentiment and macroeconomic fundamentals, putting pressure on the outlook for cyclical stocks and commodities,” Anderson Alves of ActivTrades said in a commentary.

Pandemic lockdowns have been expanding across China, including in Zhengzhou, where workers at a factor for Apple’s iPhone clashed with police earlier this week.

Across China, the number of new cases reported Thursday was 31,444, the highest since the virus was first detected in late 2019

In Asian trading, Japan’s benchmark Nikkei 225 jumped 1.0% to finish at 28,383.09. Australia’s S&P/ASX 200 added 0.1% to 7,241.80. South Korea’s Kospi gained nearly 1.0% to 2,441.33. Hong Kong’s Hang Seng rose 0.8% to 17,660.90, while the Shanghai Composite fell 0.3% to 3,089.31.

Minutes from the Federal Reserve’s most recent policy meeting showed central bank officials agreed that smaller rate hikes would likely be appropriate “soon.” That suggests policymakers are seeing signs that inflation may be cooling as the economy slows with more costly borrowing.

At their Nov. 1-2 meeting, Fed officials expressed uncertainty about how long it might take for their rate hikes to slow the economy enough to tame inflation. At a news conference afterward, Chair Jerome Powell stressed the Fed wasn’t even close to declaring victory in its fight to curb high inflation. Other Fed officials in the weeks since the meeting have signaled that additional hikes are still necessary.

The central bank’s benchmark rate currently stands at 3.75% to 4%, up from close to zero in March. It has warned that it may have to ultimately raise rates to previously unanticipated levels to cool the hottest inflation in decades.

Investors have been closely watching the latest economic and inflation data for any signs that might allow the Fed to ease up on future rate increases. Investors are worried that it could slam the brakes too hard on economic growth and bring on a recession.

In energy trading, benchmark U.S. crude lost 32 cents to $77.62 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, fell 45 cents to $84.96 a barrel.

In currency trading, the U.S. dollar fell to 138.76 Japanese yen from 139.60 yen. The euro cost $1.0419 up from $1.0398.

*Market Watch*

ASX 200 futures up 10 points or 0.14% to 7265 at 07:57:55 AEDT





*NYSE CLOSED THURSDAY FOR HOLIDAY*


----------



## bigdog

US stocks wobble to a mixed close, indexes keep weekly gains
					

Stocks wobbled to a mixed close on Wall Street Friday, but every major index notched weekly gains in a holiday-shortened week. Investors faced a relatively quiet day, though concerns about inflation, high interest rates and a potential recession still hover over Wall Street.




					apnews.com
				




US stocks wobble to a mixed close, indexes keep weekly gains​By DAMIAN J. TROISE

Stocks wobbled to a mixed close on Wall Street Friday, but every major index notched weekly gains in a holiday-shortened week.

Investors faced a relatively quiet day, though concerns about inflation, high interest rates and a potential recession still hover over Wall Street. Markets were closed on Thursday for the Thanksgiving holiday and closed at 1 p.m. Eastern Friday.

The S&P 500 fell 1.14 points, or less than 0.1%, to close at 4,026.12. Nearly 70% of stocks in the benchmark index gained ground, but the broader market was dragged lower by technology companies. High valuations for companies in the technology sector tend to give it more heft in pushing the market higher or lower.

The Dow Jones Industrial Average rose 152.97 points, or 0.4%, to 34,347.03. The Nasdaq fell 58.96 points, or 0.5%, to 11,226.36.

U.S. crude oil prices fell and weighed down energy stocks.

Airlines and other travel-related companies gained ground as the busy holiday travel season kicks in. United Airlines rose 1.7%

Retailers were mixed as shoppers headed to stores for Black Friday. Home Depot rose 1.5% and Best Buy fell 1.4%.

Long-term bond yields were relatively stable but still hovered around multi-decade highs. The yield on the 10-year Treasury, which influences mortgage rates, rose to 3.70% from 3.69% late Wednesday.

Investors remain concerned about whether the Federal Reserve can tame the hottest inflation in decades by raising interest rates without going too far and causing a recession. The central bank’s benchmark rate currently stands at 3.75% to 4%, up from close to zero in March. It’s warned it may have to ultimately raise rates to previously unanticipated levels to rein in high prices on everything from food to clothing.

Minutes from the Fed’s latest policy meeting, released on Wednesday, show that officials agreed that smaller rate hikes would likely be appropriate “soon.” That was welcomed by investors who are worried that continued aggressive rate hikes could slow the already weak economy too much.

Investors also have their eyes on China’s lockdowns and restrictions to curb the spread of coronavirus infections, as the direction China takes will impact the rest of Asia and global supply chains.

China has been expanding pandemic lockdowns, including in a city where factory workers making Apple’s iPhone clashed with police this week, as its number of COVID-19 cases hit a daily record. Apple fell 2%.

Markets in Europe and Asia were mixed.

Wall Street gets several big economic updates next week. The Conference Board business group will release its November report on consumer confidence, which could give investors more insight on how consumers are dealing with inflation. The U.S. government also releases its closely watched monthly employment report.






The Dow Jones Industrial Average rose 152.97 points, or 0.4%, to 34,347.03. The Nasdaq fell 58.96 points, or 0.5%, to 11,226.36.

The S&P 500 fell 1.14 points, or less than 0.1%, to close at 4,026.12.


----------



## bigdog

Asian shares rise except Japan as markets eye China protests
					

TOKYO (AP) — Asian shares were mostly higher Tuesday as market jitters declined over protests in China  set off by growing public anger over COVID-19 restrictions.




					apnews.com
				




US stock indexes fall as lockdown protests spread in China​By DAMIAN J. TROISE and ALEX VEIGA

A broad slide on Wall Street left stocks lower Monday as global financial markets reacted to protests in China calling for President Xi Jinping to step down amid growing anger over severe COVID-19 restrictions.

The S&P 500 fell 1.5%, clawing back all of the benchmark index’s gains from last week. The Dow Jones Industrial Average finished 1.4% lower, while the Nasdaq composite slid 1.6%.

The world’s second largest economy has been stifled by a “zero COVID” policy which includes lockdowns that continually threaten the global supply chain at a time when recession fears hang over economies worldwide. The recent demonstrations there are the greatest show of public dissent against the ruling Communist Party in decades.

The unrest stoked worries on Wall Street that if Xi cracks down even further on dissidents there or expands the lockdowns, it could slow the Chinese economy, which would hurt oil prices and global economic growth, said Sam Stovall, chief investment strategist at CFRA

“A lot of people are worried about what the fallout will be, and basically are using that as an excuse to take some recent profits,” he said.

More than 90% of the stocks in the S&P 500 closed in the red, with technology companies the biggest weights on the broader market. Apple, which has seen iPhone production hit hard by lockdowns in China, fell 2.6%.

Banks and industrial stocks also were among the biggest drags on the market. JPMorgan fell 1.7% and Boeing slid 3.7%.

Several casino operators gained ground as the Chinese gambling haven of Macao tentatively renewed the their licenses. Las Vegas Sands rose 1.1% and Wynn Resorts gained 4.4%.

The fallout from the collapse of crypto exchange FTX continued. Cryptocurrency lender BlockFi is filing for Chapter 11 bankruptcy protection. Cryptocurrency exchange Coinbase Global fell 4% and the price of Bitcoin slipped 2.1%.

All told, the S&P 500 fell 62.18 points to 3,963.94. The Dow dropped 497.57 points to 33,849.46. The tech-heavy Nasdaq lost 176.86 points to close at 11,049.50.

Smaller company stocks fell even more that the broader market. The Russell 2000 slid 38.23 points, or 2.1%, to 1,830.96.

Markets in Asia and Europe fell. The yield on the 10-year Treasury held steady at 3.69%

Wall Street is coming off of a holiday-shortened week that was relatively light on corporate news and economic data. Investors have a busier week ahead as they continue monitoring the hottest inflation in decades and its impact on consumers, business and monetary policy.

Anxiety remains high over the ability of the Federal Reserve to tame inflation by raising interest rates without going too far and causing a recession. The central bank’s benchmark rate currently stands at 3.75% to 4%, up from close to zero in March. It has warned it may have to ultimately raise rates to previously unanticipated levels to rein in high prices on everything from food to clothing.

Federal Reserve Chair Jerome Powell will speak at the Brookings Institution about the outlook for the U.S. economy and the labor market on Wednesday.

The Conference Board will release its consumer confidence index for November on Tuesday. That could shed more light on how consumers have been holding up amid high prices and how they plan on spending through the holiday shopping season and into 2023.

The government will release several reports about the labor market this week that could give Wall Street more insight into one of the strongest sectors of the economy. A report about job openings and labor turnover for October will be released on Wednesday, followed by a weekly unemployment claims report on Thursday. The closely-watched monthly report on the job market will be released on Friday.

*Market watch*
ASX 200 futures up 10 points or 0.1% to 7251 at 6.48am AEDT

The S&P 500 fell 1.5%, clawing back all of the benchmark index’s gains from last week. The Dow Jones Industrial Average finished 1.4% lower, while the Nasdaq composite slid 1.6%

All told, the S&P 500 fell 62.18 points to 3,963.94. The Dow dropped 497.57 points to 33,849.46. The tech-heavy Nasdaq lost 176.86 points to close at 11,049.50


----------



## bigdog

Asian shares mostly decline ahead of Fed chair's key speech
					

TOKYO (AP) — Asian shares were mostly lower Wednesday ahead of a closely watched speech by the Federal Reserve chief that may give clues about future interest rate hikes.  Investors were also eyeing developments in China, where protests have erupted over the “zero-COVID” strategy that has...




					apnews.com
				




Wall Street ends an uneven day of trading with mixed results​By DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped an unsteady day of trading with an uneven finish for the major stock indexes Tuesday, as gains by energy companies were offset by losses in technology and other sectors.

The S&P 500 slipped 0.2%, its third straight drop. The tech-heavy Nasdaq composite fell 0.6%, while the Dow Jones Industrial Average ended just barely in the green and small-company stocks rose.

The mixed finish came as investors watched developments in China and looked ahead to a speech Wednesday by Federal Reserve Chair Jerome Powell for clues as to what the central bank will do next in its fight to lower stubbornly hot inflation.

Wall Street is especially eager to hear what Powell has to say after remarks on Monday by two Federal Reserve bank president s helped spur a broad sell-off for stocks.

“This is a market that’s waiting for more information, particularly from Powell,” said Quincy Krosby, chief equity strategist for LPL Financial.

The S&P 500 slipped 6.31 points to 3,957.63. The Nasdaq dropped 65.72 points to 10,983.78. The Dow, which had been down as much as 187 points, gained 3.07 points to close at 33,852.53.

The Russell 2000 index of small company stocks rose 5.59 points, or 0.3%, to 1,836.55.

Technology stocks were the biggest drag on the broader market. Apple fell 2.1%. Financial and industrial stocks were among the gainers. American Express added 2% and United Parcel Service rose 2.8%. Energy stocks rose as U.S. crude oil prices climbed 1.2%. Hess rose 1.8%.

Railroad operators rose amid hopes that a rail strike can be averted as Congress prepares to take up legislation this week to impose a deal that unions agreed to in September. Union Pacific rose 2% and CSX gained 1.8%.

Bond yields gained ground. The yield on the 10-year Treasury, which influences mortgage rates, rose to 3.76% from 3.68% late Monday.

Markets in Europe were mixed and markets in Asia rose broadly.

Hong Kong’s benchmark index jumped 5.2% as protests in China seemingly calmed down amid a heightened police presence in major cities and the government eases some of its lockdown restrictions.

China’s “zero-COVID” policy includes strict lockdown procedures that have crimped the nation’s economy and threaten global supply chains. That has added to broader concerns globally about stubbornly hot inflation and the potential for recessions to hit economies worldwide.

Wall Street’s big focus remains the Federal Reserve’s fight against the hottest inflation in decades. The central bank has been aggressively raising interest rates to make borrowing more difficult and tame high prices. The Fed’s benchmark rate currently stands at 3.75% to 4%, up from close to zero in March.

Investors have been hoping that the Fed could ease up on its rate increases and are closely watching the latest data on inflation, consumer spending and the employment market. They’ll be looking for any signs of a shift in policy when Powell speaks at the Brookings Institution about the outlook for the U.S. economy and the labor market on Wednesday

The Conference Board reported on Tuesday that consumer confidence fell slightly in November from October, but remains relatively strong. Consumer spending has been solid area of the economy, along with employment.

The U.S. government will be releasing several reports about the labor market this week. A report about job openings and labor turnover for October will be released Wednesday, followed by a weekly unemployment claims report Thursday. The closely watched monthly report on the job market will be released on Friday.

Market watch​ASX 200 futures down 1 points to 7259 at 8.58am AEDT

The S&P 500 slipped 6.31 points to 3,957.63. The Nasdaq dropped 65.72 points to 10,983.78. The Dow, which had been down as much as 187 points, gained 3.07 points to close at 33,852.53.

The S&P 500 slipped 0.2%, its third straight drop. The tech-heavy Nasdaq composite fell 0.6%, while the Dow Jones Industrial Average ended just barely in the green and small-company stocks rose


----------



## bigdog

Asian shares gain after Fed chair signals slower rate hikes
					

BANGKOK (AP) — Shares advanced in Asia on Thursday after a rally on Wall Street spurred by the Federal Reserve chair's comments on easing the pace of interest rate hikes to tame inflation. Signs that China may be shifting its approach to containing COVID-19 outbreaks to focus more on...




					apnews.com
				




Stocks rally after Fed chair signals slowdown in rate hikes​By DAMIAN J. TROISE and ALEX VEIGA

Wall Street closed out a solid November with a broad market rally Wednesday after the head of the Federal Reserve said the central bank could soon begin easing up on its aggressive interest rate increases aimed at taming inflation.

Fed Chair Jerome Powell, speaking at the Brookings Institution, reaffirmed that the central bank could begin moderating its pace of rate hikes as soon as December, when the policymaking committee is due to hold its next meeting.

“We have a risk management balance to strike,” Powell said. “And we think that slowing down (on rate hikes) at this point is a good way to balance the risks.”

Stocks roared higher following Powell’s midafternoon remarks. The S&P 500 rose 3.1%, snapping a three-day losing streak. The Dow Jones Industrial Average gained 2.2% and the Nasdaq composite climbed 4.4%.

The major indexes ended November with their second straight month of gains, though they remain in the red for the year

Powell’s comments sent Treasury yields sharply lower. The yield on the 10-year Treasury dropped to 3.65% from 3.75% late Tuesday. The yield on the two-year note, which tends to track market expectations of future Fed action, fell to 4.34%. It was trading at 4.48% late Tuesday and had been as high as 4.53% shortly before Powell’s speech

While citing some recent signs that inflation is cooling, Powell stressed that the Fed will push rates higher than previously expected and keep them there for an extended period to ensure inflation comes down sufficiently.

“History cautions strongly against prematurely loosening policy,” Powell said. “We will stay the course until the job is done.”

“Perhaps all that the market was looking for today was confirmation that we’re going to have a smaller rate hike in December,” said Kristina Hooper, chief global market strategist at Invesco.

The path ahead, though, is far from certain.

“The only thing we know is that a smaller rate hike is likely in December,” she said. “We have really very little in the way of visibility of when the pause is going to be.”

Major indexes have been unsteady as the economy and financial markets deal with stubbornly hot inflation and the Fed’s attempt to cool high prices with aggressive interest rate increases

Wall Street has been hoping that the Fed will slow the scale and pace of its interest rate hikes. It has raised its benchmark interest rate six times since March, driving it to a range of 3.75% to 4%, the highest in 15 years. The goal is to make borrowing more difficult and generally slow the economy in order to tame inflation.

Those increases have helped send mortgage rates sharply higher, causing home sales to plunge, and it has raised costs for most other consumer and business loans. Many economists expect the U.S. will slip into a recession next year as higher borrowing costs slow economic activity.

In his remarks Wednesday, Powell said the Fed may increase its key interest rate by a smaller increment at its December meeting, only a half-point, after four straight three-quarter point hikes

“Cutting rates is not something we want to do soon,” Powell said. “That’s why we’re slowing down.”

Investors welcomed the prospect of more modest rate hikes.

More than 95% of the stocks in the benchmark S&P 500 index notched gains Wednesday, with technology companies leading the gains. Apple rose 4.9% and Microsoft jumped 6.2%.

All told, the S&P 500 rose 122.48 points to 4,080.11. The index gained 5.4% in November, but remains down about 14% so far this year.

The Dow climbed 737.24 points to close at 34,589.77, while the tech-heavy Nasdaq surged 484.22 points to 11,468.

Small company stocks also rallied. The Russell 2000 index rose 50.03 points, or 2.7%, to 1,886.58.

Markets in Asia and Europe closed mostly higher. U.S. crude oil prices climbed 3%.

The economy has been slowing, but contains strong pockets that have given markets hope that a recession could be avoided. The government on Wednesday said the economy grew at a 2.9% annual rate from July through September, an upgrade from its initial estimate.

Consumers have continued spending, despite of inflation squeezing wallets, and the overall employment market remains strong.

The employment market remains a big focus for the Fed and investors. It’s strength has helped the broader economy, but makes it more difficult to cool inflation.

“If we can get a weaker labor market, we’ll probably get weaker wage pressure,” said Scott Ladner, chief investment officer at Horizon Investments. “That’s sort of the last shoe to drop with inflation.”

Economic data on Wednesday showed signs of a softening labor market, though it remains relatively strong historically. The U.S. government reported that job openings dropped in October more than economists had anticipated. Human resources company ADP reported an easing in private sector employment growth in November.

Investors will get more data Thursday on the employment sector with a report on weekly unemployment claims. The closely watched monthly report on the job market will be released on Friday.

Market watch​ASX 200 futures up 97 points or 1.34% to 7357 at 07:59:04am AEDT








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Stocks roared higher following Powell’s mid-afternoon remarks. The S&P 500 rose 3.1%, snapping a three-day losing streak. The Dow Jones Industrial Average gained 2.2% and the Nasdaq composite climbed 4.4%.

All told, the S&P 500 rose 122.48 points to 4,080.11. The index gained 5.4% in November, but remains down about 14% so far this year.

The Dow climbed 737.24 points to close at 34,589.77, while the tech-heavy Nasdaq surged 484.22 points to 11,468.


----------



## bigdog

Asian shares sink on revived worries over recession, China
					

BANGKOK (AP) — Shares retreated in Asia on Friday after a mixed day on Wall Street as optimism over signs the Federal Reserve may temper its aggressive interest rate hikes was replaced by worries the economy might be headed for a recession.




					apnews.com
				




Wall Street ends mixed in an uneven start for December​By DAMIAN J. TROISE and ALEX VEIGA

A day of wobbly trading on Wall Street ended Thursday with a mixed finish for stocks and bond yields broadly lower after the government reported that a measure of inflation that’s closely watched by the Federal Reserve eased in October.

The muted action came as traders looked ahead to a closely watched monthly report on the job market due out Friday that will show how the labor market is holding up and how that may influence what the Fed does next in its bid to cool inflation.

The S&P 500 closed 0.1% lower after drifting modestly higher and lower for much of the day. The Dow Jones Industrial Average fell 0.6% and the Nasdaq composite edged up 0.1%.

Banks and household goods providers were among the biggest drags on the benchmark S&P 500. Bank of America fell 2.9% and Costco slid 6.6%.

Gains in health care companies, communications services stocks and elsewhere in the market helped keep the losses in check. Drugmaker Pfizer rose 1.9% and Netflix climbed 3.7%.

Salesforce slumped 8.3% for the biggest drop in the S&P 500 after Bret Taylor said he would resign as co-CEO of the customer-management software developer.

Yields on both short-term and long-term bonds fell. The yield on the 10-year Treasury, which influences mortgage rates, edged lower to 3.51% from 3.61% late Wednesday. The yield on the two-year note, which tends to track market expectations of future Fed action, fell to 4.24%. from 4.33% a day earlier

All told, the S&P 500 dipped 3.54 points to 4,076.57. The Dow dropped 194.76 points to 34,395.01. The Nasdaq rose 14.45 points to 11,482.45.

The Russell 2000 index of small companies also took a step back, falling 4.90 points, or 0.3%, to close at 1,881.68.

Major indexes are coming off of their second straight month of gains. Markets rallied Wednesday after Fed Chair Jerome Powell indicated that the central bank could dial back the pace of its interest rate increases as soon as this month. The Fed has been aggressively raising interest rates in order to tame stubbornly hot inflation.

A measure of inflation that is closely monitored by the Fed eased in October. Wall Street has been closely watching any updates about inflation to get a better sense of whether the Fed will tone down its interest rate increases.

Powell said the central bank could begin moderating its pace of rate hikes at its next meeting in mid-December. The Fed, though, has been very clear about its intent to continue raising interest rates until it is sure that inflation is cooling.

The Fed has raised its benchmark rate six times since March, driving it to a range of 3.75% to 4%, the highest in 15 years. Wall Street expects the benchmark rate to reach a peak range of 5% to 5.25% by the middle of 2023.

A big concern for Wall Street has been whether the Fed can tame rates without sending the economy into a recession as it hits the brakes on growth. Businesses are seeing demand fall for a wide range of goods as inflation squeezes wallets. Analysts generally expect the U.S. to dip into a recession, even if it is mild and short, at some point in 2023

“What turns mild recessions into deep economic scarring is the buildup of excess, and we don’t have a bubble this time,” said Katie Nixon, chief investment officer for Northern Trust Wealth Management.

Inflation will continue to be the main focus for Wall Street, and “on that score, things seem to be coming off the boil,” she said.

Investors are also getting more data this week on inflation’s impact over the broader economy. Activity in the manufacturing sector contracted in November for the first time since May 2020, according to the Institute for Supply Management. The report also showed that prices are falling.

“All signs point to a deceleration of inflation in everything except wages,” Nixon said. “That is sort of the last man standing.”

Market watch​ASX 200 futures down 12 points or 0.2% to 7354 at 6.45am AEDT

All told, the S&P 500 dipped 3.54 points to 4,076.57. The Dow dropped 194.76 points to 34,395.01. The Nasdaq rose 14.45 points to 11,482.45.

The S&P 500 closed 0.1% lower after drifting modestly higher and lower for much of the day. The Dow Jones Industrial Average fell 0.6% and the Nasdaq composite edged up 0.1%.


----------



## bigdog

Wall Street ends mixed following strong data on wages, jobs
					

Worries about inflation weighed on Wall Street Friday, leaving major indexes mixed after a report showed wages for U.S. workers are accelerating, which is good news for them but could feed into even higher inflation for the nation.




					apnews.com
				




Wall Street ends mixed following strong data on wages, jobs​By STAN CHOE and ALEX VEIGA

Worries about inflation weighed on Wall Street Friday, leaving major indexes mixed after a report showed wages for U.S. workers are accelerating, which is good news for them but could feed into even higher inflation for the nation.

The S&P 500 ended 0.1% lower after having been down as much as 1.2% earlier in the day. The Nasdaq composite also trimmed its deficit, falling 0.2%, while the Dow Jones Industrial Average eked out a 0.1% gain. The indexes all notched gains for the week.

Stocks had been on the upswing for the last month on hopes the worst of the nation’s high inflation may have passed already. That fed expectations for the Federal Reserve to dial down the intensity of its big interest-rate hikes. Such hikes aim to undercut inflation by slowing the economy and dragging down prices for stocks and other investments.

But Friday’s labor market report showed that wages for workers rose 5.1% last month from a year earlier. That’s an acceleration from October’s 4.9% gain and easily topped economists’ expectations for a slowdown.

Such jumps in pay are helpful to workers struggling to keep up with soaring prices for everyday necessities. The Federal Reserve’s worry is that too-strong gains could cause inflation to become further entrenched in the economy. That’s because wages make up a big part of costs for companies in services industries, and they could end up raising their own prices further to cover higher wages for their employees.

“Inflation is certainly moving in the right direction,” said Adam Abbas, co-head of fixed income at Harris Associates, “but the market is still going to have to go through some calibration of the risk that we level off at 3% to 4% core inflation versus a natural, steady move down to” the 2% goal set by the Fed.

“After such a strong move over the last three and a half weeks,” Abbas said about expectations for an easing up by the Fed, “maybe the market has gotten a little ahead of itself.”

Across the economy, employers added 263,000 jobs last month. That beat economists’ forecasts for 200,000, while the unemployment rate held steady at 3.7%. Many Americans also continue to stay entirely out of the job market, with a larger percentage of people either not working or looking for work than before the pandemic, which could increase the pressure on employers to raise wages

A labor market that remains much stronger than expected could make an already dicey situation for the Fed even more complicated. It’s trying to slow the economy just enough to prevent the buying activity that gives inflation its oxygen, without going so far as to create a recession. The Fed has signaled it will likely push the unemployment rate to at least 4.4% in its fight against inflation.

“The most important number for the Fed is probably the wage number,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments.

Many traders are still betting on the Fed to downshift the size of its rate hikes at its next meeting later this month, as several officials at the central bank have hinted. Traders still largely expect the Fed to raise its key overnight interest rate on Dec. 14 by half a percentage point, after hiking by a heftier three-quarters of a point four straight times.

But expectations are rising for what the Fed will do in 2023. Treasury yields jumped immediately after the jobs report’s release on speculation the Fed may ultimately hike rates higher than thought a few moments before.

The yield on the two-year Treasury rose to 4.29% from 4.24% late Thursday. The 10-year yield, which helps set rates for mortgages and many other loans, fell to 3.49% from 3.51%.

“Another month with a strong jobs report and torrid wage gains is a reality check for where we stand in the inflation fight,” said Mike Loewengart, head of model portfolio construction at Morgan Stanley Global Investment Office.

The strong labor market data follows up on several mixed reports on the economy. The nation’s manufacturing activity shrank in November for the first time in 30 months, for example, while the housing industry is struggling under the weight of much higher mortgage rates. Such data points had raised hopes the Fed’s rate hikes were taking effect and would ultimately pull down inflation

Even though Friday’s report showed hiring was stronger than expected, it also clearly demonstrated that the nation’s downward trend in hiring is continuing. November’s jobs gains matched the low seen in April 2021, which was the weakest since December 2020 when the number of jobs shrank.

More economists are still forecasting the U.S. economy to fall into a recession next year in large part because of higher interest rates.

“While the Fed won’t back away from” a hike of just half a percentage point “in December, they still have no clue what they’ll do in 2023,” said Allpsring’s Jacobsen.


----------



## bigdog

Market watch​
ASX 200 futures are up 0.3 per cent to 7334 as investors await the Reserve Bank’s rates decision on Tuesday, with economists split between a 15 basis points or 25 basis points hike.

The S&P 500 ended 0.1% lower after having been down as much as 1.2% earlier in the day. The Nasdaq composite also trimmed its deficit, falling 0.2%, while the Dow Jones Industrial Average eked out a 0.1% gain. The indexes all notched gains for the week.


----------



## bigdog

Asian shares lower as strong data hit hopes for dovish Fed
					

BANGKOK (AP) — Stocks were mostly lower in Asia on Tuesday after Wall Street pulled back as surprisingly strong economic reports highlighted the difficulty of the Federal Reserve’s fight against inflation.




					apnews.com
				




Stocks slide as strong data suggests Fed has more to do​By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed broadly lower on Wall Street and Treasury yields rose Monday after surprisingly strong economic reports highlighted the Federal Reserve’s difficult fight against inflation.

The S&P 500 fell 1.8%, its third straight drop. The slide more than offset the index’s gains last week. The Dow Jones Industrial Average dropped 1.4% and the tech-heavy Nasdaq composite slid 1.9%. Small-company stocks fell even more, sending the Russell 2000 index 2.8% lower.

Bond yields mostly climbed. The yield on the 10-year Treasury, which influences mortgage rates, rose to 3.59% from 3.49% late Friday.

The selling came as traders reacted to some better-than-expected economic snapshots. The services sector, which makes up the biggest part of the U.S. economy, showed surprising growth in November, according to the Institute for Supply Management. Reports on business orders at U.S. factories and orders for durable goods in October also rose more than expected.

The reports are positive for the broader economy, but they make the Fed’s fight against inflation more difficult because it likely means the central bank will have to keep raising interest rates in order to bring down inflation.

“It’s more of that ‘good news is bad news,’” said Tom Martin, senior portfolio manager at Globalt Investments. The latest economic data “bolsters the idea that rates are going to be higher.”

Meanwhile, China is lifting some of its most severe COVID-19 restrictions following protests across major cities. That has raised hopes that disruptions to manufacturing and trade will ease.

The S&P 500 fell 72.86 points to 3,998.84. The Dow dropped 482.78 points to 33,947.10. The Nasdaq slid 221.56 points to 11,239.94. The Russell 2000 fell 52.62 points to 1,840.22.

All told, roughly 95% of the stocks in the benchmark S&P 500 index were in the red, with technology companies, banks and retailers among the biggest weights on the market. Chipmaker Nvidia fell 1.6%, Bank of America slid 4.5% and Amazon dropped 3.3%.

V.F. Corp., which makes Vans shoes and The North Face outdoor gear, slid 11.2% for the biggest drop in the S&P 500 after warning investors that weak demand is crimping revenue. The company also announced the departure of its CEO

Tesla fell 6.4% following reports that it may have to cut production in China because of weak demand.

Markets in Asia rose, while markets in Europe closed mostly lower.

Inflation, rising interest rates and the potential for recessions throughout global economies are among the biggest concerns for investors. Wall Street has been closely watching corporate announcements and government reports to get a better sense of just how much damage is being done to the economy, as well as inflation’s path ahead in 2023.

Investors are also weighing several international developments that could further unsettle a global economy that is already getting burned by stubbornly hot inflation.

Russia’s ongoing invasion of Ukraine continues agitating an already volatile global energy market. U.S. crude oil prices bounced around before settling 3.8% lower after a group of world leaders agreed to a boycott of most Russian oil. They also committed to a price cap of $60 per barrel on Russian exports

Oil and gas company stocks fell amid a broad pullback in energy prices, including an 11.2% slump in natural gas. Exxon Mobil fell 2.7%.

Investors are dealing with several crosscurrents of information. Demand may be weakening in some areas of the economy, but some sectors remain resilient. Employment remains a strong area of the economy as does overall consumer spending.

Wall Street will get a weekly update on unemployment claims on Thursday. Investors will likely be more focused on the monthly report on producer prices, for November, from the government on Friday.

The Fed has been aggressively raising its benchmark interest rate in an effort to tame inflation. The strategy is intended to make borrowing more expensive and generally hit the brakes on consumer spending and the economy. The risk is that the policy could send the economy into a recession.

The Fed is in a very “hawkish, but awkward” position, said Gene Goldman, chief investment officer at Cetera Investment Management.

“All of this is playing into uncertainty,” he said.

The Fed is meeting next week and is expected to raise interest rates by a half-percentage point, which would mark an easing of sorts from a steady stream of three-quarters of a percentage point rate increases. It has raised its benchmark rate six times since March, driving it to a range of 3.75% to 4%, the highest in 15 years. Wall Street expects the benchmark rate to reach a peak range of 5% to 5.25% by the middle of 2023.

Market watch​The *S&P/ASX 200 futures *was poised to open 23.0 points or 0.31% lower @ 7,297.5, according to ASX futures @  07:59:01.








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The S&P 500 fell 1.8%, its third straight drop. The slide more than offset the index’s gains last week. The Dow Jones Industrial Average dropped 1.4% and the tech-heavy Nasdaq composite slid 1.9%. Small-company stocks fell even more, sending the Russell 2000 index 2.8% lower.

The S&P 500 fell 72.86 points to 3,998.84. The Dow dropped 482.78 points to 33,947.10. The Nasdaq slid 221.56 points to 11,239.94. The Russell 2000 fell 52.62 points to 1,840.22.


----------



## bigdog

Stocks decline in Asia, extending losses on Wall Street
					

Shares fell in Asia on Wednesday after Wall Street declined on fears the Federal Reserve will need to keep the brakes on the economy to get inflation under control, risking a sharp recession. Oil prices were mixed.




					apnews.com
				




Stocks fall again on Wall Street, extending recent losses​By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed broadly lower on Wall Street Tuesday, extending the market’s recent string of losses, as traders ponder the Federal Reserve’s next moves in its campaign to cool stubbornly hot inflation.

The S&P 500 fell 1.4%, its fourth straight drop. The Dow Jones Industrial Average fell 1% and the Nasdaq composite lost 2%.

Technology stocks, communication companies and retailers had some of the biggest losses. Apple fell 2.5%, Disney slid 3.8% and AutoZone dropped 2.8%.

Small company stocks also fell, pulling the Russell 2000 index 1.5% lower. The major indexes are on pace for a weekly loss after posting two straight weekly gains.

Bond yields fell. The yield on the 10-year Treasury slid to 3.52% from 3.58% late Monday.

European markets ended mostly lower and Asian markets closed mixed.

Several companies made big moves following financial updates and buyout announcements.

Utility NRG Energy slumped 15.1% after announcing it is spending $2.8 billion in cash and assuming $2.4 billion in debt to buy Vivint Smart Home

Jewelry company Signet vaulted 20.2% after raising its profit and revenue forecasts for the year.

Roughly 80% of stocks in the S&P 500 fell, leaving the benchmark index down 57.58 points to 3,941.26. The Dow dropped 350.76 points to 33,596.34, while the tech-heavy Nasdaq lost 225.05 points to close at 11,014.89.

The Russell 2000 slid 27.65 points to 1,812.58.

The broader market’s dip comes a day after stocks pulled back as stronger-than-expected readings on the economy raised worries that the Fed has a ways to go in getting inflation under control. The Fed is doing that by intentionally slowing the economy with higher interest rates.

“We’ve been in this period where investors have been anticipating now that the Fed will back off pretty soon, they’ll pause soon and probably even start cutting rates in the back half of 2023,” said Bill Merz, head of capital market research at U.S. Bank Wealth Management.

“And then when we get the occasional robust jobs report and inflation report that makes it clear that inflation remains quite problematic and it’s not decelerating as quickly as anyone would like,” Merz said.

Investors are closely watching economic data and company announcements to get a better sense of how the economy is handling stubbornly hot inflation. They are also trying to determine whether inflation is easing at a pace that will allow the Fed to ease up on interest rate increases. The Fed’s policy risks hitting the brakes on the economy too hard and sending it into a recession.

The Fed is meeting next week and is expected to raise interest rates by a half-percentage point. It has raised its benchmark rate six times since March, driving it to a range of 3.75% to 4%, the highest in 15 years. Wall Street expects the benchmark rate to reach a peak range of 5% to 5.25% by the middle of 2023.

Wall Street will get a weekly update on unemployment claims on Thursday. The job market has been one of the stronger pockets in the economy.

Investors will get important updates on inflation and how consumers are dealing with high prices later in the week

On Friday, the government will release its November report on producer prices. That will give investors more insight into how inflation is impacting businesses.

The University of Michigan will release its December survey on consumer sentiment on Friday.

With growing concerns about a recession, Fitch Ratings revised its forecasts for world economic growth downward to reflect the Fed’s and other central banks’ interest rate hikes.

The ratings agency’s Global Economic Outlook report estimated global growth at 1.4% in 2023, revised down from 1.7% in its September forecast. It put U.S. growth in 2023 at 0.2%, down from 0.5%, as the pace of monetary policy tightening increases.

Market watch​ASX 200 futures are down 36 points or  0.5 per cent to 7255 as local investors await the release of September quarter GDP data.

The S&P 500 fell 1.4%, its fourth straight drop. The Dow Jones Industrial Average fell 1% and the Nasdaq composite lost 2%

Roughly 80% of stocks in the S&P 500 fell, leaving the benchmark index down 57.58 points to 3,941.26. The Dow dropped 350.76 points to 33,596.34, while the tech-heavy Nasdaq lost 225.05 points to close at 11,014.89.


----------



## bigdog

Asian shares slip after tech stock slump on Wall St
					

BANGKOK (AP) — Shares are mostly lower in Asia after Wall Street sagged under weakness in tech stocks.  U.S. futures edged lower while oil prices rebounded. Japan revised upward  its GDP data to show the economy contracted less than earlier reported in July-September, in a sign the country...




					apnews.com
				




Slump in tech stocks helps send Wall Street to another loss​By DAMIAN J. TROISE and ALEX VEIGA

Wall Street ended a wobbly day of trading with more losses Wednesday, as a slide in technology companies helped pull stocks lower and Treasury yields fell broadly.

The S&P 500 slipped 0.2%, its fifth straight loss. The Nasdaq composite, which is heavily weighted with tech stocks, fell 0.5%, while the Dow Jones Industrial Average finished just barely in the green.

Treasury yields fell significantly. The yield on the 10-year Treasury, which influences mortgage rates, slid to 3.42% from 3.53% late Tuesday. The two-year Treasury yield, which tends to track market expectations of future action by the Federal Reserve, fell to 4.27% from 4.36%.

Investors have been dealing with a relative lack of news ahead of updates on inflation and consumer sentiment later this week, and the Federal Reserve’s meeting next week. Inflation, the Fed’s aggressive interest rate increases and recession worries remain the big concerns for Wall Street.

“Investors continue to position for rates to go higher for longer,” Sam Stovall, chief investment strategist at CFRA.

The S&P 500 slipped 7.34 points to 3,933.92. The Nasdaq fell 56.34 points to 10,958.55. The Dow managed a 1.58 point gain, essentially flat, at 33,597.92.

Small company stocks also edged lower. The Russell 2000 index fell 5.67 points, or 0.3%, to 1,806.90.

Every major index is on track for weekly losses.

Technology and communication services stocks were the biggest weights on the benchmark S&P 500 index. Apple fell 1.4% and Google parent Alphabet dropped 2.1%.

Health care stocks were among the few bright spots. Pfizer rose 1.1%.

Investors rewarded several companies for solid earnings reports. Campbell Soup rose 6% after reporting strong results.

Carvana plunged 42.9%, its biggest single-day drop on record, after analysts at Wedbush Securities warned that the used vehicle chain’s bankruptcy risk is rising. The company has lost 98% of its value since the beginning of the year.

U.S. crude oil prices fell 3%, settling at $72.01 per gallon, the lowest price this year.

Economic updates later this week could give investors more insight into inflation’s path ahead and how the Fed will continue fighting high prices.

The U.S. will release data on weekly unemployment claims on Thursday. The jobs market has been a strong area of the otherwise slowing economy and that has made it more difficult for the Fed to tame inflation.

The government will release a report on wholesale prices Friday that will provide more details on how inflation is affecting businesses. The University of Michigan will release a December survey on consumer sentiment on Friday.

The reports do not typically move markets but are receiving elevated attention as they are some of the final data dumps before the Fed meets next week.

The central bank is expected to raise interest rates by a half-percentage point at its meeting next week. It has raised its benchmark rate six times since March, driving it to a range of 3.75% to 4%, the highest in 15 years. Wall Street expects the benchmark rate to reach a peak range of 5% to 5.25% by the middle of 2023

Inflation has been easing and economists expect the upcoming data on wholesale and consumer prices to reflect that trend. The pace has been slow, though, and the Fed has been very clear about its intent to keep raising interest rates until it is sure that inflation is cooling. That has raised concerns that the central bank could hit the brakes too hard on the economy and cause a recession.

A growing number of analysts expect the U.S. economy to slip into a recession in 2023, but are unsure of its potential severity and duration.

European markets mostly fell. Markets in Asia closed lower overnight. China rolled back more of its strict COVID-19 rules that have hindered that nation’s economy and added more uncertainty to global supply chains.

Market watch​ASX 200 futures down 18 points or 0.35% to 7228 at 6.35am AEDT

The S&P 500 slipped 7.34 points to 3,933.92. The Nasdaq fell 56.34 points to 10,958.55. The Dow managed a 1.58 point gain, essentially flat, at 33,597.92.

The S&P 500 slipped 0.2%, its fifth straight loss. The Nasdaq composite, which is heavily weighted with tech stocks, fell 0.5%, while the Dow Jones Industrial Average finished just barely in the green.


----------



## bigdog

Stocks rise on Wall Street, but remain lower for the week
					

Technology companies helped lift stocks Thursday, ending a five-day losing streak for the S&P 500, though the major indexes remain on pace for a weekly loss. The S&P 500 rose 0.8%, while the tech-heavy Nasdaq composite closed 1.1% higher.




					apnews.com
				




Stocks rise on Wall Street, but remain lower for the week​By DAMIAN J. TROISE and ALEX VEIGA

Technology companies helped lift stocks Thursday, ending a five-day losing streak for the S&P 500, though the major indexes remain on pace for a weekly loss.

The S&P 500 rose 0.8%, while the tech-heavy Nasdaq composite closed 1.1% higher. The Dow Jones Industrial Average added 0.5%.

Major indexes are all in the red for the week and have been swinging between big monthly gains and losses throughout the year. Investors’ worries about inflation, rising interest rates and recession risks have made for a volatile market. That has also left Wall Street focused on data points on the economy, especially those regarding inflation.

“We’ll continue to see outsized moves in the markets over the coming months,” said Jeff Kleintop, chief global investment strategist at Charles Schwab. “We’re going to be feeling our way through and there’s going to be a lot of volatility.”

The S&P 500 rose 29.59 points to 3,963.51. The Nasdaq gained 123.45 points to 11,082, and the Dow rose 183.56 points to 33,781.48.

Tech stocks powered much of the rally, along with health care companies and retailers. Chipmaker Nvidia climbed 6.5%, Pfizer rose 3.1% and Nike gained 2.8%.

Communication services stocks posted some of the biggest losses. T-Mobile US slid 3.3%

Energy stocks also fell. The price of U.S. crude oil settled 0.8% lower at $71.46 per barrel, another low point for the year. ConocoPhillips dropped 2%.

Activision Blizzard lost 1.5% after the Federal Trade Commission said it is suing to block Microsoft’s planned $69 billion takeover of the video game company, saying it could suppress competitors to its Xbox game consoles and its growing games subscription business. Microsoft rose 1.2%.

Small company stocks gained ground. The Russell 2000 index added 11.39 points, or 0.6%, to 1,818.29.

Bond yields mostly rose. The yield on the 10-year Treasury note, which helps set mortgage rate s, increased to 3.49% from 3.42% late Wednesday.

Markets in Europe closed mostly lower, while markets in Asia ended mixed.

On Thursday, the U.S. reported slightly more Americans filed for jobless claims last week, but not as many as economists had forecast. The labor market remains one of the strongest pockets of the economy, which has been stifled under the weight of stubbornly hot inflation and rising interest rates.

Low unemployment is good for the broader economy but makes it more difficult for the Federal Reserve to tame inflation. The central bank has been raising interest rates to curb borrowing and spending in order to cool stubbornly hot inflation in decades. Its benchmark interest rate sits at 3.75% to 4%, the highest in 15 years.

The Fed will meet next week and is expected to raise its benchmark interest rate by a half-percentage point.

Resilient consumer spending, which is partly tied to strong employment, has also made the fight against inflation more difficult. It has been keeping the economy strong enough to stay out of a recession, analysts have said, but it is also increasing the chances that the Fed will go too far in raising interest rates. The Fed could potentially cause a recession by hitting the brakes too hard on the economy

Wall Street will get more insight into how consumers feel about inflation and the economy on Friday when the University of Michigan releases its consumer sentiment survey for December. Investors will also get an update on how inflation is impacting businesses when the government releases its latest monthly report on wholesale prices Friday.

Market watch​The *S&P/ASX 200* will open 33 points or 0.46 per cent higher this morning, according to futures moves

The S&P 500 rose 29.59 points to 3,963.51. The Nasdaq gained 123.45 points to 11,082, and the Dow rose 183.56 points to 33,781.48.

The S&P 500 rose 0.8%, while the tech-heavy Nasdaq composite closed 1.1% higher. The Dow Jones Industrial Average added 0.5%.


----------



## bigdog

Wall Street falls as US inflation slows but remains hot
					

A choppy day of trading on Wall Street ended with stocks broadly lower Friday, after a new report showed that inflation is slowing less than hoped just days before Federal Reserve officials are expected to raise interest rates again.




					apnews.com
				




Wall Street falls as US inflation slows but remains hot​By STAN CHOE and ALEX VEIGA

A choppy day of trading on Wall Street ended with stocks broadly lower Friday, after a new report showed that inflation is slowing less than hoped just days before Federal Reserve officials are expected to raise interest rates again.

The S&P 500 and Nasdaq composite each fell 0.7%, while the Dow Jones Industrial Average dropped 0.9%. Smaller company stocks fell even more, pulling the Russell 2000 index 1.2% lower. The indexes marked their first losing week in the last three.

The U.S. government reported that prices paid at the wholesale level were 7.4% higher in November than a year earlier. That’s a slowdown from October’s wholesale inflation rate of 8.1%, but it was still slightly worse than economists expected.

“There’s a sense that inflation has plateaued, but that said it’s still sticky and the Fed is most likely going to have to push harder,” said Quincy Krosby, chief equity strategist for LPL Financial

The nation’s high inflation, along with the Federal Reserve’s economy-crunching response to it, have been the main reasons for Wall Street’s painful tumble this year. Stocks have recovered some of their losses recently, as inflation has slowed since hitting a peak in the summer. But it remains too high, raising the risk the Federal Reserve will have to keep hiking interest rates sharply to get it fully under control

Treasury yields climbed as traders stepped up bets for how high the Fed will ultimately take interest rates. The central bank has already hiked its key overnight rate to a range of 3.75% to 4%, up from basically zero as recently as March.

Its next decision on rates is scheduled for next week, and the general expectation is for it to raise rates by another half of a percentage point.

Friday’s economic data did not sway Wall Street’s expectations on that, not after several Fed officials hinted recently they may step down from their string of four straight hikes of 0.75 percentage points. Such a dial down would mean less added pressure on markets and the economy. Even so, the Fed has said it may still take rates higher than markets expect before taking a pause.

Higher rates hurt the economy by making it more expensive for companies and households to borrow money, which forces them to cut back on spending. If rates go too high, it can cause a recession. They also drag down on prices for stocks and all kinds of other investments

A separate report on Friday showed U.S. households are paring expectations a bit for inflation in the future. That’s key for the Fed, which wants to prevent a vicious cycle where households rush to make purchases on fears prices will rise further. Such buying activity only fans inflation higher.

Households are forecasting inflation of 4.6% in the year ahead, according to the survey by the University of Michigan. That’s the lowest such reading in 15 months, though still well above where it was two years ago. Expectations for longer-run inflation remain stuck in the 2.9% to 3.1% range where they’ve been for 16 of the last 17 months, at 3%.

Overall sentiment among consumers was also stronger than economists expected, according to the University of Michigan’s preliminary reading. That’s good news for the economy, which gets most of its strength from spending by such consumers. But it can also complicate the Fed’s task. If such spending remains resilient, it could keep up the pressure on inflation.

The last big piece of data on inflation before the Fed’s next decision arrives on Tuesday, when economists expect the consumer price index to show that inflation slowed to 7.3% last month from 7.7% in October.

“The two most important questions for next year are how fast inflation will drop and how much will it need to drop for the Fed to stop tightening,” foreign-exchange strategists wrote in a BofA Global Research report. “We are concerned markets too optimistic on both.”

Roughly 75% of the stocks in the S&P 500 closed lower Friday, with health care, technology and energy among the sectors that weighed down the market most. The benchmark index fell 29.13 points to 3,934.38. It finished 3.4% lower for the week and is now down 17.5% this year

The Dow fell 305.02 points to 33,476.46, while the Nasdaq slid 77.39 points to 11,004.62. The Russell 2000 dropped 21.63 points to 1,796.66.

The yield on the two-year Treasury, which tends to track expectations for Fed action, rose to 4.36% from 4.26% just before Friday’s inflation report was released. It was at 4.31% late Thursday.

The yield on the 10-year Treasury, which helps dictate rates for mortgages and other loans, rose to 3.58% from 3.49% late Thursday.

In overseas stock markets, European indexes closed higher after recovering from a pullback following the U.S. inflation report.

Chinese benchmarks rose Friday on reports the government is planning new measures to support the ailing property sector, which has been a severe drag on growth over the past several years.

The relaxation of some of China’s “zero-COVID” rules is also raising hopes the economy will gain momentum, though experts say it will take months for tourism and other business to recover from the disruptions of the pandemic. It historically has been a major source of the global economy’s growth.


----------



## bigdog

Market watch​ASX futures down 35 points or 0.5% to 7183 on Saturday

The Dow fell 305.02 points to 33,476.46, while the Nasdaq slid 77.39 points to 11,004.62. The Russell 2000 dropped 21.63 points to 1,796.66.

The S&P 500 and Nasdaq composite each fell 0.7%, while the Dow Jones Industrial Average dropped 0.9%.


----------



## bigdog

Wall Street rises ahead of year's last barrage of rate hikes
					

Stocks closed higher Monday as Wall Street kicked off a busy week when central banks are likely to unload the year’s final barrage of interest-rate hikes meant to drive down the world’s painfully high inflation.




					apnews.com
				




Wall Street rises ahead of year’s last barrage of rate hikes​By STAN CHOE and ALEX VEIGA

Stocks closed higher Monday as Wall Street kicked off a busy week when central banks are likely to unload the year’s final barrage of interest-rate hikes meant to drive down the world’s painfully high inflation.

The S&P 500 rallied 1.4%, trimming its loss for the year to 16.3%. The Dow Jones Industrial Average rose 1.6% and the Nasdaq composite gained 1.3%. Small company stocks also rose, pushing the Russell 2000 index 1.2% higher. The indexes are coming off their first weekly loss in three weeks.

The gains were widespread, with more than 90% of stocks in the benchmark S&P 500 index closing higher. Treasury yields rose broadly.

The market rally comes ahead of a key inflation report on Tuesday and a meeting of policymakers at the Federal Reserve, after which investors expect the Fed to announce Wednesday its last rate hike of the year following a blitzkrieg that began in March.

“Tomorrow, the inflation data is pretty important because we’ve been getting some decent reads,” said Tom Martin, senior portfolio manager at Globalt Investments. “Not to say that inflation has been coming down by leaps and bounds, but sort of at the margin it looks as though prices are getting a little bit weaker.”

The main reasons for Wall Street’s struggles much of this year have been high inflation and the higher interest rates engineered to combat it.

Higher rates slow the economy by design and risk causing a recession if they go too high, all while dragging down prices of investments. One upside for investors is that the Fed has hinted it will dial down the size of its rate hikes, leading to expectations for a more modest increase of 0.50 percentage points Wednesday.

That would follow four straight mega-hikes of 0.75 percentage points. Each was triple the Fed’s usual move, and they lifted the central bank’s key overnight rate to a range of 3.75% to 4% after starting the year at virtually zero.

Other central banks around the world are also likely to raise their own rates by half a percentage point this week, including the European Central Bank.

Any dial down in the size of rate hikes would mean less added pain for markets and the economy. Such hopes have helped stocks and bonds rally since mid-October, as investors have taken data reports to mean the worst of inflation has finally passed and would allow the Fed to ease up.

But expectations for a slowdown in rate hikes may also be setting some investors up for disappointment, if central banks signal this week they’ll ultimately take rates higher than markets expect. While they aren’t the clear majority of the market, many traders are betting the Fed’s overnight interest rate will top out at a range of 4.75% to 5% next year, for example.

Economists at Goldman Sachs expect Fed policy makers on Wednesday to signal their median expectation is for rates to hit a range of 5% to 5.25%, up by half a percentage point from their last projection.

Some investors also continue to make moves in anticipation of the Fed cutting interest rates during the second half of 2023. Rate cuts generally act like steroids for stocks and other investments, but the Fed has been insisting it plans to hold rates at a high level for some time to ensure the battle against inflation is won.

Even if inflation is indeed on its way down, the global economy still faces threats from the rate increases already pushed through. The housing industry and other businesses that rely on low interest rates have shown particular weakness, and worries are rising about the strength of corporate profits broadly.

“Inflation Data and Fed Is Yesterday’s News; Focus on Earnings Risk” was the title of a report published Monday by strategists at Morgan Stanley.

The next big milestone for markets comes Tuesday, when the U.S. government releases the latest update on inflation at the consumer level. Economists forecast that inflation slowed to 7.3% last month from 7.7% in October.

Besides raising short-term rates, the Fed is also making other moves with its vast trove of bond investments that should effectively allow longer-term yields to rise.

The yield on the 10-year Treasury, which helps set rates for mortgages and other loans, rose to 3.61% from 3.59% late Friday. The two-year yield, which tends to more closely track expectations for the Fed, rose to 4.39% from 4.34%.

Technology stocks accounted for a big share of the market’s gains. Microsoft rose 2.9% and was the biggest single force lifting the S&P 500. The London Stock Exchange Group agreed to a 10-year deal where it will move data to Microsoft’s cloud and spend at least $2.8 billion. Microsoft is also taking a 4% ownership stake in the company.

Horizon Therapeutics jumped 15.5% after Amgen announced it would acquire the biopharmaceutical company for about $26.4 billion.

Energy producers also rose after the price of U.S. oil settled 3% higher. Exxon Mobil rose 2.5%.

Last week, crude prices scraped their lowest levels of the year on worries about a weakening global economy, which would mean less demand for energy

All told, the S&P 500 rose 56.18 points to 3,990.56. The Dow added 528.58 points to close at 34,005.04. The Nasdaq climbed 139.12 points to 11,143.74. The Russell 2000 gained 21.95 points to 1,818.61

Market watch​
The *S&P/ASX 200* is poised to open 49 points or 0.68 per cent higher, according to futures moves.

The S&P 500 rose 56.18 points to 3,990.56. The Dow added 528.58 points to close at 34,005.04. The Nasdaq climbed 139.12 points to 11,143.74. The Russell 2000 gained 21.95 points to 1,818.61

The S&P 500 rallied 1.4%, trimming its loss for the year to 16.3%. The Dow Jones Industrial Average rose 1.6% and the Nasdaq composite gained 1.3%.


----------



## bigdog

Wall Street closes higher after inflation cooled in November
					

NEW YORK (AP) — Stocks on Wall Street finished higher Tuesday after a report showed inflation cooled more than expected last month, cementing expectations that the Federal Reserve is about to dial down the size of its interest rate hikes.




					apnews.com
				




Wall Street closes higher after inflation cooled in November​By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

Stocks on Wall Street finished higher Tuesday after a report showed inflation cooled more than expected last month, cementing expectations that the Federal Reserve is about to dial down the size of its interest rate hikes.

The encouraging inflation data raised hopes for easing pressure on the economy ahead of an interest rate policy update on Wednesday from the Fed. Stocks initially surged, driving the Dow Jones Industrial Average more than 700 points higher, but then pared their gains as analysts cautioned investors not to get carried away by hopes for an easier Fed, as they have in the past.

The S&P 500 ended 0.7% higher. An early-morning burst of 2.8% nearly vanished by lunchtime. It had already climbed 1.4% a day earlier, with much of that gain coming in the last hour of trading on anticipation of the inflation data.

The Dow Jones Industrial Average flipped briefly to a loss before ending 0.3% higher, while the Nasdaq composite rose 1% after shedding most of a 3.8% gain.

The source of all the action was data showing that U.S. inflation slowed to 7.1% last month from 7.7% in October and more than 9% in the summer. Even though inflation remains painfully high, and shoppers continue to pay prices well above levels from a year ago, Tuesday’s report offers hope that the worst of inflation really did pass during the summer.

More importantly for markets, the slowdown bolstered investors’ expectations that the Federal Reserve will downshift to an increase of 0.50 percentage points when it announces its next hike to short-term rates on Wednesday.

“The market’s hanging onto what the Fed does,” said Michael Antonelli, market strategist at Baird, adding that Wall Street will be watching whether Fed officials acknowledge the latest evidence of declining inflation.

“Will that be part of their language?” he said. “And if they say, ‘yes, we see it, but that doesn’t change our mind at all,’ then they’ve told us that they still think they need to hike or that they need to stay at higher rates for longer.”

Such increases slow the economy by design, in hopes of cooling conditions enough to get inflation under control. But they also risk causing a recession if rates go too high, and they push down on prices for stocks and all kinds of other investments in the meantime. Smaller hikes to interest rates would mean less added pain to both the economy and to markets.

A hike of 0.50 percentage points would usually be a big deal because it’s double the typical move. But with inflation coming off its worst level in generations, it would be a step down from the four straight mega-hikes of 0.75 percentage points the Fed has approved since the summer.

Expectations for an easier Fed meant some of Wall Street’s wildest action Tuesday was in the bond market, where yields fell sharply immediately after the inflation report’s release.

The yield on the 10-year Treasury, which helps set rates for mortgages and other important loans, fell to 3.51% from 3.62% late Monday. The two-year yield, which more closely tracks expectations for the Fed, dropped to 4.22% from 4.39%

Other central banks around the world, including the European Central Bank, are also likely to raise their own rates by half a percentage point this week.

Technology stocks helped push the S&P 500 higher. The benchmark index added 29.09 points to close at 4,019.65. The Dow rose 103.60 points to 34,1087.64. The Nasdaq gained 113.08 points to finish at 11,256.81.

Small company stocks also gained ground. The Russell 2000 index rose 13.75 points, or 0.8%, to 1,832.36.

Despite the encouraging data, analysts cautioned that the Federal Reserve’s fight against inflation — and its hikes to interest rates — still has further to go. Even if the Fed is moving at smaller increments each time, it may still ultimately take rates higher than markets expect.

“That downshift should not be conflated with a pivot,” said Jake Jolly, senior investment strategist at BNY Mellon Investment Management. “It’s going to be a bumpy, long slog and probably going to take most of next year.”

Some investors continue to bet the Fed will cut interest rates in the latter part of 2023. Rate cuts generally act like steroids for stocks and other investments, but the Fed has been insisting it plans to hold rates at a high level for some time to ensure the battle against inflation is won.

And even if inflation is indeed firmly on its way down, the global economy still faces threats from the rate increases already pushed through. The housing industry and other businesses that rely on low interest rates have shown particular weakness, and worries are rising about the strength of corporate profits broadly.

Still, such caution wasn’t enough to erase all of the relief that washed through Wall Street as economists called the inflation data “cool” in more ways than one.

A measure of fear among stock investors, which shows how much they’re paying for protection from upcoming swings in prices, eased by more than 9%.

Market watch​The *S&P/ASX 200* is poised to open 16 points or 0.22 per cent ahead, according to futures moves. The Australian benchmark rallied yesterday for only the second time in six sessions, gaining 0.31 per cent.

The Dow Jones Industrial Average flipped briefly to a loss before ending 0.3% higher, while the Nasdaq composite rose 1% after shedding most of a 3.8% gain.

Technology stocks helped push the S&P 500 higher. The benchmark index added 29.09 points to close at 4,019.65. The Dow rose 103.60 points to 34,1087.64. The Nasdaq gained 113.08 points to finish at 11,256.81.


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## bigdog

Stocks stumble after Fed hikes rates, signals more to come
					

A bumpy day of trading on Wall Street ended with stocks broadly lower Wednesday after Federal Reserve raised its benchmark interest rate in its fight against inflation and signaled that more hikes lay ahead.




					apnews.com
				




Stocks stumble after Fed hikes rates, signals more to come​By DAMIAN J. TROISE and ALEX VEIGA

A bumpy day of trading on Wall Street ended with stocks broadly lower Wednesday after Federal Reserve raised its benchmark interest rate in its fight against inflation and signaled that more hikes lay ahead.

As expected, the central bank raised its key short-term rate by 0.50 percentage points, marking its seventh hike this year. The Fed also said it expected to raise rates higher over the coming few years than it had previously anticipated.

The S&P 500 lost 0.6% after giving up an earlier gain of 0.9%. The Dow Jones Industrial Average fell 0.4% and the Nasdaq composite gave back 0.8%. Bond yields mostly fell after a brief rally following the Fed’s midafternoon announcement.

“The market was expecting the Fed to tone down its hawkishness, which it did not,” said Sam Stovall, chief investment strategist at CFRA.

The Fed’s latest hike is smaller than the previous four 0.75 percentage point increases and comes a day after an encouraging report showed that inflation in the U.S. slowed in November for a fifth straight month

Recent signs that inflation, while still painfully high, has eased had stoked optimism on Wall Street that the Fed might signal the possibility of rate cuts in the second half of next year. But during a press conference following the Fed’s latest policy announcement, Fed Chair Jerome Powell emphasized that the full effects of the central bank’s efforts to slow the economy to bring down inflation have yet to be fully felt.

“The inflation data received so far for October and November show a welcome reduction in the monthly pace of price increases, but it will take substantially more evidence to give confidence that inflation is on a sustained downward path,” Powell said.

Powell also reiterated that the Fed plans to hold rates at a level high enough to slow the economy “for some time” to ensure inflation really is crushed. He said the Fed’s projections released Wednesday do not include any for rate cuts in 2023.

“I wouldn’t see the committee cutting rates until we’re confident that inflation is moving down in a sustained way,” Powell said.

He also said that how fast the Fed raises rates is not so important now. “It’s far more important to think what is the ultimate level,” Powell said

The latest increase brings the Fed’s federal funds rate to a range of 4.25% to 4.5%, its highest level in 15 years. Fed policymakers forecast that the cental bank’s rate will reach a range of 5% to 5.25% by the end of 2023. That suggests the Fed is prepared to raise rates by an additional 0.75 percentage points next year.

The Fed also signaled it expects its rate will come down by the end of 2024 to 4.1%, and drop to 3.1% at the end of 2025.

“This is considerably higher than expectations priced into financial markets, which are positioned for the federal funds rate to come back down to 3.9% at the end of 2023 and to 2.6% at the end of 2024,” said Bill Adams, chief economist for Comerica Bank.

Bond yields wavered for much of the afternoon as traders digested the Fed’s action. The yield on the 10-year Treasury, which influences mortgage rates, slipped to 3.48% from 3.50% from late Tuesday. The two-year yield, which more closely tracks expectations for Fed moves, held steady at 4.22%

Wall Street has been closely watching economic reports on consumer spending and employment, which remain strong. That has made it more difficult for the Fed to tame inflation while also helping to protect the slowing economy from a possible recession.

The U.S. will release its weekly report on unemployment benefits on Thursday, along with retail sales data for November.

Roughly 70% of the stocks in the S&P 500 closed lower Wednesday, with technology companies, banks and retailers among the biggest weights on the benchmark index. Apple fell 1.6%, Goldman Sachs dropped 2.3% and Best Buy slid 3.9%.

All told, the S&P 500 fell 24.33 points to 3,995.32. The Dow slid 142.29 points to 33,966.35, and the tech-heavy Nasdaq fell 85.93 points to 11,170.89.

Small company stocks also fell. The Russell 2000 index slid 11.91 points, or 0.7%, to 1,820.45.

Delta Air Lines rose 2.8% after it raised its fourth-quarter financial outlook and issued an optimistic forecast for 2023.

Market watch​*The S&P/ASX 200 looks set to open 57 points or 0.79 per cent lower,* according to futures moves. The Australian benchmark climbed 0.67 per cent yesterday to its highest close in a week.

The S&P 500 lost 0.6% after giving up an earlier gain of 0.9%. The Dow Jones Industrial Average fell 0.4% and the Nasdaq composite gave back 0.8%.

All told, the S&P 500 fell 24.33 points to 3,995.32. The Dow slid 142.29 points to 33,966.35, and the tech-heavy Nasdaq fell 85.93 points to 11,170.89.


----------



## bigdog

*A SEA OF RED YESTERDAY*









						US stocks sink as Fed signals it will remain aggressive
					

Stocks tumbled on Wall Street and across European markets Thursday as investors grew increasingly concerned that the Federal Reserve and other central banks are willing to risk a recession to bring inflation under control.




					apnews.com
				




US stocks sink as Fed signals it will remain aggressive​By DAMIAN J. TROISE and ALEX VEIGA

Stocks tumbled on Wall Street and across European markets Thursday as investors grew increasingly concerned that the Federal Reserve and other central banks are willing to risk a recession to bring inflation under control.

The S&P 500 fell 2.5%, with more than 90% of stocks in the benchmark index closing in the red. The Dow Jones Industrial Average fell 2.2% and the Nasdaq composite lost 3.2%. The broad slide erased all the weekly gains for the major indexes.

European stocks fell sharply, with Germany’s DAX dropping 3.3%.

The wave of selling came as central banks in Europe raised interest rates a day after the U.S. Federal Reserve hiked its key rate again, emphasizing that interest rates will need to go higher than previously expected in order to tame inflation.

“It’s this coordinated central bank tightening — stocks tend to not do well in that environment,” said Willie Delwiche, investment strategist at All Star Charts.

In the U.S., the market’s losses were widespread, though technology stocks were the biggest weight on the S&P 500. The benchmark index fell 99.57 points to 3,895.75.

The Dow slid 764.13 points to 33,202.22, while the tech-heavy Nasdaq dropped 360.36 points to 10,810.53

Small company stocks also fell. The Russell 2000 index slid 45.85 points, or 2.5%, to close at 1,774.61.

The Fed raised its short-term interest rate by half a percentage point on Wednesday, its seventh increase this year. Central banks in Europe followed along Thursday, with the European Central Bank, Bank of England and Swiss National Bank each raising their main lending rate by a half-point Thursday.

Although the Fed is slowing the pace of its rate increases, the central bank signaled it expects rates to be higher over the coming few years than it had previously anticipated. That disappointed investors who hoped recent signs that inflation is easing somewhat would persuade the Fed to take some pressure off the brakes it’s applying to the U.S. economy.

The federal funds rate stands at a range of 4.25% to 4.5%, the highest level in 15 years. Fed policymakers forecast that the central bank’s rate will reach a range of 5% to 5.25% by the end of 2023. Their forecast doesn’t call for a rate cut before 2024

The yield on the two-year Treasury, which closely tracks expectations for Fed moves, rose to 4.24% from 4.21% late Wednesday. The yield on the 10-year Treasury, which influences mortgage rates, slipped to 3.45% from 3.48%.

The three-month Treasury yield slipped to 4.31%, but remains above that of the 10-year Treasury. That’s known as an inversion and considered a strong warning that the economy could be headed for a recession.

“The (stock) market’s reaction is now factoring in a recession, and rejecting the possibility of the ‘soft/softish’ landing” that Fed Chair Jerome Powell raised in a speech last month, said Quincy Krosby, chief global strategist for LPL Financial.

The prospect of more Fed rate hikes have heightened Wall Street’s worries about how company earnings could fare in a recession, Delwiche said.

”(Inflation) has peaked, it will peak, it did peak, whatever, that’s not the story,” he said. “The story now is how does the economy hold up? How do earnings hold up?”

The central bank has been fighting to lower inflation at the same time that pockets of the economy, including employment and consumer spending, remain strong. That has made it more difficult to rein in high prices on everything from food to clothing.

On Thursday, the government reported that the number of Americans applying for unemployment benefits fell last week, a sign that the labor market remains strong. Meanwhile, another report showed that retail sales fell in November. That pullback followed a sharp rise in spending in October.

Like the Fed, central bank officials in Europe said inflation is not yet corralled and that more rate hikes are coming.

“We are in for a long game,” European Central Bank President Christine Lagarde said at a news conference.

Market watch​ASX 200 futures down 81 points or 1.1% to 7080

 The S&P 500 benchmark index fell 99.57 points to 3,895.75.  The Dow slid 764.13 points to 33,202.22, while the tech-heavy Nasdaq dropped 360.36 points to 10,810.53

The S&P 500 fell 2.5%, with more than 90% of stocks in the benchmark index closing in the red. The Dow Jones Industrial Average fell 2.2% and the Nasdaq composite lost 3.2%.


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## bigdog

Wall Street loses ground, marking 2nd straight weekly loss
					

Wall Street racked up more losses Friday, as worries mounted that the Federal Reserve and other central banks are willing to bring on a recession if that’s what it takes to crush inflation. The S&P 500 fell 1.1%, its third straight drop.




					apnews.com
				




Wall Street loses ground, marking 2nd straight weekly loss​By DAMIAN J. TROISE and ALEX VEIGA

Wall Street racked up more losses Friday, as worries mounted that the Federal Reserve and other central banks are willing to bring on a recession if that’s what it takes to crush inflation.

The S&P 500 fell 1.1%, its third straight drop. The Dow Jones Industrial Average dropped 0.8% and the Nasdaq composite lost 1%. The major indexes marked their second straight weekly loss.

The pullback was broad. More than 80% of stocks in the benchmark S&P 500 fell. Technology and health care stocks were among the biggest weights on the market. Microsoft fell 1.7% and Pfizer slid 4.1%.

The Fed this week raised its forecast for how high it will ultimately take interest rates and tried to dash some investors’ hopes that rate cuts may happen next year. In Europe, the central bank came off as even more aggressive in many investors’ eyes.

“Inflation continues to be the monster in the room,” said Liz Young, head of investment strategy at SoFi.

Inflation has been easing from its hottest levels in decades, but remains painfully high. That has prompted the Fed to maintain its aggressive attack on prices by raising interest rates to slow economic growth. The strategy increasingly risks slamming on the brakes too hard and sending an already slowing economy into a recession

“Whether it’s a mild, medium, or deep recession is still unknown,” Young said.

A mixed report from S&P Global on Friday highlighted the recession risk. It showed that business activity slowed more than expected this month as inflation squeezes companies. It also noted that it was the sharpest drop since May of 2020, but that inflation pressures have also been easing.

“In short, the survey data suggest that Fed rate hikes are having the desired effect on inflation, but that the economic cost is building and recession risks are consequently mounting,” Chris Williamson, chief business economist at S&P Global Market Intelligence, said.

The S&P 500 fell 43.39 points to 3,852.36. It’s now down about 19% this year. The Dow dropped 281.76 points to finish at 32,920.46. The Nasdaq slid 105.11 points to 10,705.41.

Small company stocks had more moderate losses than the broader market. The Russell 2000 fell 11.19 points, or 0.6%, to 1,763.42.

Bond yields were mixed. The yield on the 10-year Treasury, which influences mortgage rates, rose to 3.49% from 3.45% late Thursday. The yield on the two-year Treasury, which closely tracks expectations for Fed moves, fell to 4.21% from 4.24% late Thursday.

The Fed on Wednesday ended its final meeting of the year by raising its short-term interest rate by half a percentage point, its seventh straight increase this year. Wall Street had been hoping that the central bank would signal an easing of rate increases heading into 2023, but the Fed instead signaled the opposite.

The federal funds rate stands at a range of 4.25% to 4.5%, the highest level in 15 years. Fed policymakers forecast that the central bank’s rate will reach a range of 5% to 5.25% by the end of 2023. Their forecast doesn’t call for a rate cut before 2024

Several companies bucked the broader losses on Friday after reporting strong financial results and forecasts. Software maker Adobe rose 3% after topping Wall Street’s fiscal fourth-quarter earnings forecasts. United States Steel gained 5.8% after giving investors a strong earnings forecast.


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## bigdog

The Australian share market looks set to continue its slide on Monday following a poor finish to the week on Wall Street.

According to the latest SPI futures, the ASX 200 is expected to open the day 27 points or 0.4% lower this morning.

The S&P 500 fell 43.39 points to 3,852.36. It’s now down about 19% this year. The Dow dropped 281.76 points to finish at 32,920.46. The Nasdaq slid 105.11 points to 10,705.41.

On Wall Street, the Dow Jones was down 0.85%, the S&P 500 fell 1.1%, and the NASDAQ dropped 1%.


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## bigdog

Wall Street loses more ground, extending a losing streak
					

Wall Street started off the week with more losses for stocks Monday, as investors brace for higher interest rates from central banks to fight inflation. The S&P 500 fell 0.9%, with most of the sectors in the benchmark index closing in the red.




					apnews.com
				




Wall Street loses more ground, extending a losing streak​By DAMIAN J. TROISE and ALEX VEIGA

Wall Street started off the week with more losses for stocks Monday, as investors brace for higher interest rates from central banks to fight inflation.

The S&P 500 fell 0.9%, with most of the sectors in the benchmark index closing in the red. The Dow Jones Industrial Average fell 0.5% at the Nasdaq composite lost 1.5%. Small company stocks also fell, pulling the Russell 2000 1.3% lower.

The latest wave of selling extends the major indexes’ losing streak to a fifth day. Each index posted a weekly loss the past two weeks.

Markets have been slumping as hopes for a gentler Federal Reserve vanish amid stubbornly hot inflation. The central bank last week raised its forecast of how long interest rates have to stay elevated to cool inflation that has been hurting businesses and threatening spending. The European Central Bank also warned that more rate hikes are coming.

Communications services stocks, technology companies and retailers were among the biggest losers Monday. Disney slid 4.8%, Microsoft fell 1.7% and Home Depot dropped 1.9% lower

Facebook’s parent company fell 4.1% after the European Union accused the company of breaching antitrust rules by distorting competition in the online classified ads business

U.S. crude oil prices rose 1.2%. That helped boost some energy stocks. Marathon Petroleum gained 1.2%.

All told, the S&P 500 fell 34.70 points to 3,817.66. The index is down about 20% this year with less than two weeks left in 2022.

The Dow dropped 162.92 points to 32,757.54, while the Nasdaq fell 159.38 points to 10,546.03. The Russell 2000 gave up 1.4%.

European markets mostly rose, while Asian markets closed lower overnight.

Treasury yields gained ground. The yield on the 10-year Treasury, which influences mortgage rates, rose to 3.59% from 3.49% late Friday.

Investors have several economic reports to review this week as they try to determine the continuing path of inflation.

The National Association of Realtors delivers its November tally of U.S. home sales Wednesday. Home sales have been falling, but prices in the housing market have remained strong.

The Conference Board will release its consumer confidence report for December on Wednesday. Consumer confidence and spending has been another strong area of the economy, but inflation is starting to put a tighter squeeze on consumers

The government will release a closely watched monthly snapshot of consumer spending on Friday, the personal consumption expenditure price index for November. The report is monitored by the Fed as a barometer of inflation.

The Fed ended its final meeting of the year last week by raising its short-term interest rate by half a percentage point, its seventh straight increase this year. More importantly, it signaled that it may have to maintain high interest rates longer than Wall Street had been anticipating in order to tame inflation.

The federal funds rate stands at a range of 4.25% to 4.5%, the highest level in 15 years. Fed policymakers forecast that the central bank’s rate will reach a range of 5% to 5.25% by the end of 2023. Their forecast doesn’t call for a rate cut before 2024.

Inflation is showing signs of easing, but at a relatively slow pace. The Fed’s aggressive policy risks hitting the brakes on the economy too hard, while at the same time economic growth is already slowing because of pressure from inflation. That could result in a recession, which analysts expect in some form within 2023, though the severity and duration is difficult to forecast

*MARKET WATCH*

ASX 200 stocks are likely to slide after Wall Street ended a fourth straight session lower amid recession concerns.

ASX 200 futures are pointing to a lower start, down 27 points or 0.4 per cent  ahead of the release of the minutes of the RBA’s recent rates meeting, due at 11.30am AEDT.

The S&P 500 fell 34.70 points to 3,817.66. The index is down about 20% this year with less than two weeks left in 2022.

The Dow dropped 162.92 points to 32,757.54, while the Nasdaq fell 159.38 points to 10,546.03. The Russell 2000 gave up 1.4%.

On Wall Street, the S&P 500 closed 0.9 per cent weaker, while the Dow Jones Industrial Average was down 0.5 per cent per cent and the Nasdaq Composite shed 1.5 per cent.


----------



## bigdog

Stocks rise, bond yields jump after Japan surprises markets
					

NEW YORK (AP) — Stocks closed modestly higher on Wall Street, while bond markets around the world felt pain Tuesday after a surprise move from Japan’s central bank cranked up the pressure on an already slowing global economy.




					apnews.com
				




Stocks rise, bond yields jump after Japan surprises markets​By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA

NEW YORK (AP) — Stocks closed modestly higher on Wall Street, while bond markets around the world felt pain Tuesday after a surprise move from Japan’s central bank cranked up the pressure on an already slowing global economy.

The S&P 500 rose 0.1% after flipping between small losses and gains in the early going. The Dow Jones Industrial Average rose 0.3% and the Nasdaq composite barely budged after closing less than 0.1% higher. Small company stocks outdid the broader market, lifting the Russell 2000 index 0.5% higher.

The muted gains were enough to end a four-day losing streak for the major indexes.

The biggest action was in the bond market, where yields pushed higher after Japan, one of the world’s last bastions of super-low and economy-aiding interest rates, made moves that could allow rates to climb more than otherwise.

The Bank of Japan said Tuesday it still wants the yield on 10-year Japanese government bonds to remain at roughly zero, but it also said it would allow the yield to move up to 0.50% instead of the 0.25% cap it had held previously. What made Tokyo’s unexpected move a particular jolt was how much resistance it’s shown so far in joining the global campaign to hike rates in order to undercut high inflation.

“BoJ’s surprise move allowed it to take a small step away from the extreme dovish side of the monetary policy spectrum, where it had stood alone all year among major central banks,” wrote Jennifer Lee of BMO Economics in a note to clients. “It is not joining the rate-hikers out there, but it is now a tad closer.”

Higher yields make borrowing more expensive, which slows the economy while also pushing down on prices for stocks and other investments. Other central banks around the world, particularly in the United States and Europe, have been raising rates at such an explosive clip that a growing number of economists and investors see a recession hitting in 2023. Both the Federal Reserve and European Central Bank have pledged to keep raising rates into next year to be sure the job is done on getting inflation under control.

Aftershocks from the Bank of Japan’s move on Tuesday rippled through bond and currency markets around the world.

In the U.S., the yield on the 10-year Treasury rose to 3.68% from 3.59% late Monday. That yield helps set rates for mortgages and other economy-setting loans, which has already meant particular pain for the U.S. housing market.

A report on Tuesday showed U.S. homebuilders broke ground on fewer homes for a third straight month in November. The number of building permits, meanwhile, fell to its lowest level since June 2020 when the pandemic froze the economy.

The two-year U.S. Treasury yield, which tends to more closely track expectations for action from the Federal Reserve, was more reserved. It held steady at 4.26%.

In the foreign exchange market, Tokyo’s surprise move sent the value of the Japanese yen climbing against the U.S. dollar, which gave back some of its huge gains over the past year. The dollar fell to 131.50 Japanese yen, down 4% from a day earlier

The Nikkei 225 index of Japanese stocks also fell 2.5%.

Stocks worldwide have been under pressure the entire year on worries about high inflation, higher interest rates and a weakening economy.

“Markets continue to play the back-and-forth between inflation and concerns about Fed policy and growth,” said Zachary Hill, head of portfolio management at Horizon Investments.

Investors have been trying to push markets higher every time it seems that inflation is easing and every time they “run into the simple fact that the Fed needs to tighten financial conditions to slow down the economy,” Hill said.

In Shanghai, stocks lost 1.1% after the World Bank cut its forecast for China’s economic growth this year to 2.7% from its June outlook of 4.3%. The bank cited repeated shutdowns of major cities to fight COVID-19 outbreaks. China now is relaxing some of its anti-COVID restrictions, but worries are rising that resulting breakouts of the virus could mean their own hits to the world’s second-largest economy

European markets ended mixed.

On Wall Street, the Bank of Japan’s move had less of an impact on stocks.

“It was a surprise, a very unexpected move, but on its own it’s probably not enough to really be a risk-off event for markets,” said Ross Mayfield, investment strategist at Baird.

The S&P 500 rose 3.96 points to 3,821.62. The Dow added 92.20 points to 32,849.74. The Nasdaq rose 1.08 points to 10,547.11. The Russell 2000 picked up 9.44 points to 1,748.02.

Energy sector stocks led the S&P 500′s gains as the price of U.S. oil settled 1.2% higher. Halliburton climbed 3.8%, and Schlumberger rose 3.9%.

Communications, technology and banks also rose. Facebook parent Meta Platforms gained 2.3%, Adobe rose 2.9% and Charles Schwab added 1.7%. Tesla was the S&P 500′s biggest decliner, sliding 8.1%.

*MARKET WATCH*

ASX 200 futures stocks are set to open 58 points higher up 0.8 per cent to 7025 after Wall Street held on to small gains after Bank of Japan’s surprise rate move.

The S&P 500 rose 0.1% after flipping between small losses and gains in the early going. The Dow Jones Industrial Average rose 0.3% and the Nasdaq composite barely budged after closing less than 0.1% higher

The S&P 500 rose 3.96 points to 3,821.62. The Dow added 92.20 points to 32,849.74. The Nasdaq rose 1.08 points to 10,547.11.


----------



## bigdog

Wall Street gains ground, turning higher for the week
					

Stocks closed broadly higher on Wall Street Wednesday and pushed major indexes into the green for the week, as investors welcomed a report showing consumer confidence is holding up better than expected.




					apnews.com
				




Wall Street gains ground, turning higher for the week​By DAMIAN J. TROISE and ALEX VEIGA

Stocks closed broadly higher on Wall Street Wednesday and pushed major indexes into the green for the week, as investors welcomed a report showing consumer confidence is holding up better than expected.

The S&P 500 and Nasdaq composite each rose 1.5%. The Dow Jones Industrial Average gained 1.6% with a lot of help from Nike, which soared after reporting better-than-expected results.

The market got a boost from a report showing consumer confidence is surprisingly strong, despite inflation squeezing wallets. The Conference Board’s consumer confidence index rose to 108.3 in December, up from 101.4 in November. The sharp rebound pushed the index to its highest level since April. Last month’s figure was the lowest since July.

“The news has delivered a kind of a sweet spot for the Federal Reserve,” said Megan Horneman, chief investment officer at Verdence Capital Management. “The consumer is staying relatively resilient.”

Consumer spending, along with the employment market, has been another strong area of the economy that has helped protect it from slipping into a recession. Wall Street has been hoping that the Fed can win its fight against inflation and avoid a recession, what economists call a “soft landing.” The latest consumer confidence report raises hopes for that outcome in 2023, analysts said.

“If the consumer continues to feel good, behave in a rational way and remain employed, the window for a soft landing expands,” said Keith Buchanan, portfolio manager at Globalt Investments.

The Fed’s key lending rate, the federal funds rate, stands at a range of 4.25% to 4.5%, the highest level in 15 years. Fed policymakers forecast that the rate will reach a range of 5% to 5.25% by the end of 2023. Their forecast doesn’t call for a rate cut before 2024.

Investors are worried that the Fed will go too far in raising interest rates and ultimately slow the economy so much that it slips into a recession. That has left investors closely focused on economic updates to get a better idea of how businesses and consumers are dealing with inflation.

New data released Wednesday showed the nation’s housing market continued to slow last month, as sales of previously occupied homes fell for the tenth month in a row. The housing market has been a strong area of the economy, but has been tempered by rising mortgage rates. That has made an already tight housing market even more difficult for prospective homebuyers

The government will release a closely watched monthly snapshot of consumer spending on Friday, the personal consumption expenditure price index for November. The report is monitored by the Fed as a barometer of inflation, which has been easing, but at a relatively slow pace. Economists expect the report to show that inflation continued cooling in November.

Technology companies powered a big share of the rally Wednesday. Apple rose 2.4%.

Health care and financial company stocks also helped lift the market. Eli Lilly rose 2.3% and Bank of America added 1.5%.

Nike surged 12.2% for the biggest gain among S&P 500 stocks after reporting results that trounced analysts’ estimates. FedEx rose 3.4% after reporting strong earnings. Energy stocks gained ground as U.S. crude oil prices settled 2.9% higher. Hess gained 3.1%

All told, the S&P 500 rose 56.82 points to 3,878.44. The Dow gained 526.74 points to 33,376.48. The Nasdaq rose 162.26 points to 10,709.37.

Small company stocks also gained ground. The Russell 2000 index rose 28.92 points, or 1.7%, to 1,776.94.

Treasury yields mostly fell. The yield on the 10-year Treasury, which influences mortgage rates, slipped to 3.67% from 3.69 late Tuesday.

Market snapshot​
ASX 200 futures were up 41 points or 0.6 per cent, to 7,111, at 8:30am AEDT on Thursday, December 22.

The S&P 500 rose 56.82 points to 3,878.44. The Dow gained 526.74 points to 33,376.48. The Nasdaq rose 162.26 points to 10,709.37.

The S&P 500 and Nasdaq composite each rose 1.5%. The Dow Jones Industrial Average gained 1.6% with a lot of help from Nike, which soared after reporting better-than-expected results.


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## bigdog

US stocks slide as economic data stokes rate hike worries
					

NEW YORK (AP) — Stocks closed broadly lower on Wall Street Thursday as stronger-than-expected reports on the U.S. economy stoked worries about interest rates staying high.  The S&P 500 fell 1.4% after having been down as much as 2.9% earlier in the day.




					apnews.com
				




US stocks slide as economic data stokes rate hike worries​By DAMIAN J. TROISE, STAN CHOE and ALEX VEIGA

NEW YORK (AP) — Stocks closed broadly lower on Wall Street Thursday as stronger-than-expected reports on the U.S. economy stoked worries about interest rates staying high.

The S&P 500 fell 1.4% after having been down as much as 2.9% earlier in the day. The pullback brings Wall Street’s main measure of health back to a loss of nearly 20% for the year. The Dow Jones Industrial Average fell 1% and the Nasdaq closed 2.2% lower.

The selling was broad, with all 11 industry sectors in the S&P 500 ending up in the red. Technology stocks were the biggest drag on the benchmark index. Chipmaker Nvidia slumped 7%.

Usually, good data on the economy would be positive for markets, particularly when worries are high about a possible recession looming. But Thursday’s reports suggested the Federal Reserve may indeed follow through on its pledge to keep hiking interest rates and to hold them at a high level for a while in order to get inflation under control

The Fed is particularly worried about a still-strong job market giving more oxygen to inflation, which has come down a bit in recent months but remains close to its highest level in decades. One report on Thursday indicated employers laid off fewer workers last week than expected, while a separate report showed that the broad U.S. economy grew more strongly during the summer than forecast.

The reports forced a reminder of a longstanding mantra on Wall Street: Don’t fight the Fed. When it’s raising interest rates, the Fed is intentionally slowing the economy and increasing the risks of a potential recession. Higher rates also drag down on prices for stocks and other investments.

High-growth technology stocks have taken some of the year’s worst hits because they’re seen as some of the most vulnerable to rising rates. A discouraging profit report from chipmaker Micron Technology cast even more of a pall on the industry Thursday.

Micron fell 3.4% after it gave a weaker forecast for upcoming earnings than analysts expected as it faces softening demand.

Electric vehicle maker Tesla has also felt big pain from rising interest rates, though it’s also dealing with issues specific to itself and its CEO, Elon Musk. It tumbled 8.9%, bringing its loss for the year to around 64%. It’s taking the rare step of offering discounts on its two top-selling models through year’s end, an indication demand is slowing.

Worries are rising broadly about corporate profits across industries, which are contending with the weight of higher interest rates, still-high inflation and rising costs rise due to payroll and other expenses. A drop-off in corporate profits in 2023 could knock out another support for stocks, after profits strengthened through much of 2022.

Used-auto retailer CarMax dropped 3.7% after it reported much weaker profit for its latest quarter than analysts expected.

The market’s slide eased toward the end of the day, leaving major indexes to finish off the day’s lows. The S&P 500 dropped 56.05 points to 3,822.39. The Dow, which had been down 803 points, finished down 348.99 points at 33,027.49. The tech-heavy Nasdaq fell 233.25 points to close at 10,476.12.

Small-company stocks also fell. The Russell 2000 index dropped 22.85 points, or 1.3%, to 1,754.09.

Trading has been topsy-turvy across Wall Street recently as reports paint a mixed portrait of the economy.

The housing industry and other areas of the economy whose fortunes are closely tied to low interest rates have already shown sharp downturns. But consumer confidence has strengthened recently, offering hope for the biggest and most important part of the economy: consumer spending.

Inflation has been moderating since peaking in the summer, which at times has raised hopes on Wall Street that the Fed may back off its tough talk on interest rates. But Fed officials continue to hammer the message that they’ll hike rates further in 2023 and don’t envision a cut to rates before 2024.

The Fed has already hiked its key overnight rate up to its highest level in 15 years, after it began the year at a record low of roughly zero. That has a growing number of economists and investors are predicting a recession will hit the U.S. economy in 2023.

And the Fed is just one of many central banks around the world hiking rates at an explosive clip. Even the Bank of Japan, which has been a holdout in keeping interest rates super-low this year, this week made moves that would allow some rates to rise a bit.

The yield on the two-year U.S. Treasury, which tends to track expectations for Fed action, rose to 4.26% from 4.22% late Wednesday.

The 10-year yield, which helps dictate rates for mortgages and other economy-setting loans, rose to 3.68% from 3.67% a day earlier.

Market snapshot​According to the latest SPI futures, the ASX 200 is expected to open 66 points lower this morning.

The S&P 500 fell 1.4% after having been down as much as 2.9% earlier in the day. The pullback brings Wall Street’s main measure of health back to a loss of nearly 20% for the year. The Dow Jones Industrial Average fell 1% and the Nasdaq closed 2.2% lower.


----------



## bigdog

*I Wish You All A Merry Christmas and A Great New Year


U.S. markets will be closed on Monday for the Christmas holiday.*









						Wall Street ends higher, still winds up with 3rd weekly loss
					

A choppy day on Wall Street ended with broad gains for stocks Friday, though most of the major indexes wound up with their third weekly loss in a row.  Mixed economic news weighed on stocks early on, but the indexes rebounded by late afternoon amid relatively light trading ahead of a long...




					apnews.com
				




Wall Street ends higher, still winds up with 3rd weekly loss​By DAMIAN J. TROISE and ALEX VEIGA

A choppy day on Wall Street ended with broad gains for stocks Friday, though most of the major indexes wound up with their third weekly loss in a row.

Mixed economic news weighed on stocks early on, but the indexes rebounded by late afternoon amid relatively light trading ahead of a long holiday weekend.

The S&P 500 reversed a 0.7% loss to close 0.6% higher. With one week left of trading in 2022, the benchmark index is down 19.3% for the year.

The Dow Jones Industrial Average rose 0.5% and the Nasdaq composite eked out a 0.2% gain. The S&P 500 and Nasdaq posted their third straight weekly loss.

Markets are in a tricky situation where relatively solid consumer spending and a strong employment market reduce the risk of a recession but also raise the threat of higher interest rates from the Federal Reserve as it presses its campaign to crush inflation.

The government reported Friday that a key measure of inflation is continuing to slow, though it’s still far higher than anyone wants to see. The Federal Reserve monitors the inflation gauge in the consumer spending report, called the personal consumption expenditures price index, even more closely than it does the government’s better-known consumer price index.

Also, growth in consumer spending weakened last month by more than expected, but incomes were a bit stronger than expected.

Helping to support the market was a separate report from the University of Michigan indicating U.S. households are lowering their forecasts for upcoming inflation. That could help avoid a scenario the Federal Reserve has said often it’s desperate to prevent: a vicious cycle where shoppers rush to make purchases in advance of expected price rises, which would only worsen inflation.

“Investors are really looking to hang their hat on anything that would show a little bit more confidence in the direction of where things are going to go,” said Greg Bassuk, CEO at AXS Investments.

Treasury yields rose following the reports. The yield on the 10-year Treasury, which influences mortgage rates, rose to 3.75% from 3.69 late Thursday. The yield on the two-year Treasury, which tends to track actions by the Fed, rose to 4.31% from 4.28%.

The latest round of reports are the last big economic updates of the year and investors will soon turn their focus to the next round corporate earnings. Most investors are hoping to get a better sense of how consumers are doing through those reports and forecasts, along with the picture for corporate profits, said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance

“The stock market is in a tough spot,” he said “If the consumer starts slowing down, earnings are likely to decrease, but if the consumer remains strong, the Fed has to remain strong and interest rates keep rising.”

The Fed has been upfront about its plan to remain aggressive in raising interest rates in order to tame inflation, even though the pace of price increases continue to ease. The Fed has already hiked its key overnight rate to its highest level in 15 years, after it began the year at a record low of roughly zero. The key lending rate, the federal funds rate, stands at a range of 4.25% to 4.5%, and Fed policymakers forecast that the rate will reach a range of 5% to 5.25% by the end of 2023.

Their forecast doesn’t call for a rate cut before 2024. The high rates have raised concerns that the economy could slow too much and slip into a recession in 2023. High rates have also been weighing heavily on prices for stocks and other investments.

Inflation remains a global problem. Japan reported its core inflation rate, excluding volatile fresh foods, rose to 3.7% in November, the highest level since 1981, as surging costs for oil and other commodities added to upward price pressures in the world’s third-largest economy.

Roughly 80% of the stocks in the S&P 500 notched gains Friday. The index rose 22.43 points to 3,844.82. The Dow gained 176.44 points to 33,203.93. The Nasdaq rose 21.74 points to 10,497.86.

Oil and gas industry stocks were big gainers as energy futures prices closed broadly higher. Hess climbed 4.7%.

Communications services and financial stocks also posted solid gains. Disney rose 1.5% and American Express added 1.2%.

Small company stocks also rose. The Russell 2000 index picked up 6.85 points, or 0.4%, to 1,760.93.

Markets in Asia fell and markets in Europe closed mixed.

U.S. markets will be closed on Monday for the Christmas holiday.


----------



## bigdog

*Hong Kong’s markets were closed for a holiday, as were those in Australia & New Zealand*










						Stocks close lower on Wall Street, adding to recent losses
					

Stocks closed lower Tuesday, adding to the market's recent losses as Wall Street counts down its final days of a painful year for investors. The S&P 500 fell 0.4%, while the Nasdaq composite finished 1.4% lower.




					apnews.com
				




Stocks close lower on Wall Street, adding to recent losses​By ALEX VEIGA

Stocks closed lower Tuesday, adding to the market’s recent losses as Wall Street counts down its final days of a painful year for investors.

The S&P 500 fell 0.4%, while the Nasdaq composite finished 1.4% lower. Both indexes were coming off their third straight weekly loss. The Dow Jones Industrial Average eked out a 0.1% gain.

Trading was mostly muted as U.S. markets reopened following the long holiday weekend. Markets in Asia and Europe mostly rose after China said it will drop nearly all COVID-19 travel restrictions next month.

The move could ease some supply chain challenges for companies that source goods from China, but it could also lead to more spending by consumers there, which could fuel inflation, said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management.

“Reopening seems to rekindle some inflationary concerns, where the Chinese consumer is kind of let back out and goes back to consuming,” Hainlin said. “Maybe that’s adding to the inflation price pressures.”

The S&P 500 fell 15.57 points to 3,829.25. The Nasdaq dropped 144.64 points to 10,353.23. The Dow rose 37.63 points to 33,241.56.

Technology and communication services companies accounted for a big share of the decliners in the S&P 500. Apple fell 1.4% and Netflix lost 3.7%.

Airlines stocks fell broadly. A massive winter storm caused widespread delays and forced several carriers to cancel flights over the weekend. Delta Air Lines closed 0.8% lower, American Airlines dropped 1.4% and JetBlue slid 1.1%.

Southwest Airlines slid 6% after the company had to cancel roughly two-thirds of its flights over the last couple of days, which it blamed on problems related to staffing and weather. The federal government said it would investigate why the company lagged so far behind other carriers.

Tesla fell 11.4% for the biggest decline among S&P 500 stocks. The electric vehicle maker temporarily suspended production at a factory in Shanghai, according to published reports.

Energy stocks were the biggest gainers among S&P 500 companies. Hess added 1.2%.

Small company stocks also lost ground. The Russell 2000 index dropped 11.42 points, or 0.7%, to 1,749.52.

Treasury yields mostly rose as the U.S. bond market reopened. The yield on the 10-year Treasury, which influences mortgage rates, rose to 3.85% from 3.75% late Friday.

Trading on Wall Street is expected to be relatively light this holiday-shortened week as investors look ahead to 2023 after a dismal year for stocks.

Uncertainty about how far the Federal Reserve and other central banks would go to fight the highest inflation in decades has kept investors on edge. The Fed raised its key interest rate seven times this year and has signaled more hikes to come in 2023, even though the pace of price increases has been easing.

The high rates, which weigh heavily on prices for stocks and other investments, have fueled concerns that the economy could slow too much and slip into a recession next year.

The benchmark S&P 500 index set an all-time high at the beginning of January, but is now down nearly 20% for the year. The tech-heavy Nasdaq is down nearly 34%

Elsewhere around the world, shares mostly rose Tuesday after China announced it would relax more of its pandemic restrictions despite widespread outbreaks of COVID-19 that are straining its medical systems and disrupting business.

China’s National Health Commission said Monday that passengers arriving from abroad will no longer have to observe a quarantine, starting Jan. 8. They will still need a negative virus test within 48 hours of their departure and to wear masks on their flights.

But it was the latest step toward dropping once-strict virus-control measures that have severely limited travel to and from the world’s No. 2 economy.

“With economic activity floundering, and multinationals questioning the viability of China as a sourcing location, policymakers have — as so many times in the past — adopted a very business-like approach,” Stephen Innes of SPI Asset Management said in a commentary

Companies welcomed the move as an important step toward reviving slumping business activity.

China has joined other countries in treating cases instead of trying to stamp out infections. It has dropped or eased rules on testing, quarantines and movement, trying to reverse an economic slump. But the shift has flooded hospitals with feverish, wheezing patients, and authorities are going door to door and paying people older than 60 to get vaccinated against COVID-19.

The Shanghai Composite index jumped 1% to 3,096.57. Hong Kong’s markets were closed for a holiday, as were those in Australia.

*Market Watch*

The Australian share market looks set to fall on Wednesday following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 5 points lower this morning.

The S&P 500 fell 0.4%, while the Nasdaq composite finished 1.4% lower. Both indexes were coming off their third straight weekly loss. The Dow Jones Industrial Average eked out a 0.1% gain.

The S&P 500 fell 15.57 points to 3,829.25. The Nasdaq dropped 144.64 points to 10,353.23. The Dow rose 37.63 points to 33,241.56

*Hong Kong’s markets were closed for a holiday, as were those in Australia & New Zealand*


----------



## bigdog

Stocks close lower on Wall Street; Southwest losses mount
					

A broad slide for stocks added to Wall Street's recent losses Wednesday, as investors count down to the end of the worst year for the S&P 500 since 2008.  The S&P 500 fell 1.2%, with technology, energy and industrial stocks among the biggest weights on the benchmark index.




					apnews.com
				




Stocks close lower on Wall Street; Southwest losses mount​By DAMIAN J. TROISE and ALEX VEIGA

A broad slide for stocks added to Wall Street’s recent losses Wednesday, as investors count down to the end of the worst year for the S&P 500 since 2008.

The S&P 500 fell 1.2%, with technology, energy and industrial stocks among the biggest weights on the benchmark index. The tech-heavy Nasdaq composite slid 1.4%. Both indexes came into this week with three straight weekly losses.

The Dow Jones Industrial Average dropped 1.1%, while the fell Russell 2000 index of smaller company stocks fell 1.6%.

With two more days of trading left in 2022, the S&P 500 is headed for a roughly 20% drop for the year, even as profits and margins for companies in the index have hit record heights this year. The Dow is on pace for a 9.5% drop, while the Nasdaq is doing much worse, on pace to plunge 34.7%.

The latest losses don’t bode well for investors hoping for another “Santa Claus” rally. That’s Wall Street’s term for when stocks rise in the last five trading days of December and first two of January.

“The proverbial ‘Santa Claus’ rally, which since 1950 has statistically returned approximately 1.3-1.8% nearly 80% of the time, has looked as though Santa has taken an early vacation,” said Quincy Krosby, chief global strategist for LPL Financial.

Investors are in the middle of a mostly quiet and holiday-shortened week. Markets were closed on Monday for the observed Christmas holiday and there are no major economic reports expected this week.

A report from the National Association of Realtors showed that the housing market continued cooling amid high prices and steeper interest. Pending home sales fell 4% in November.

The report weighed down homebuilders. Toll Brothers fell 2.4%.

U.S. crude oil prices settled 0.7% lower and natural gas prices plunged 10.8%. That hurt energy stocks. Exxon Mobil fell 1.6%.

Southwest Airlines slid 5.2% as the carrier grappled with the fallout after cancelling thousands of flight cancellations. The airline’s CEO said it could be next week before the flight schedule returns to normal. Shares in other airlines also fell. Delta Air Lines dropped 2.8% and United Airlines fell 2.4%.

Tesla rose 3.3% as it stabilized from steep losses it suffered after reports Tuesday that it temporarily suspended production at a factory in Shanghai.

The Chinese government announced late Tuesday that it will start issuing new passports, a major step away from anti-virus travel barriers that likely will bring a flood of tourists out of China for next month’s Lunar New Year holiday. China has already said it will drop most of its COVID-19 travel restrictions next month.

Hong Kong’s Hang Seng climbed 1.6%, while the Shanghai Composite index dropped 0.3%.

Markets in Europe closed mostly lower.

In the U.S., the S&P 500 fell 46.03 points to 3,783.22. The Dow dropped 365.85 points to close at 32,875.71. The Nasdaq slid 139.94 points to 10,213.29. The Russell 2000 gave up 27.49 points to finish at 1,722.02.

Bond yields were mixed. The yield on the 10-year Treasury, which influences mortgage rates, rose to 3.88% from 3.85% Tuesday. The yield on the two-year Treasury fell to 4.34% from 4.38% late Tuesday.

Wall Street remains on edge and will likely continue dealing with volatile trading as the Federal Reserve continues its fight against stubbornly hot inflation. The Fed and other central banks have been raising interest rates to stifle borrowing and slow spending in order to tame inflation. The strategy, though, risks slowing the economy too much and bringing on a recession.

The Fed has already raised its key interest rate seven times this year and is expected to continue raising rates in 2023. The key lending rate, the federal funds rate, stands at a range of 4.25% to 4.5%, and Fed policymakers forecast that the rate will reach a range of 5% to 5.25% by the end of 2023. Their forecast doesn’t call for a rate cut before 2024.

*MARKET WATCH*

The Australian share market looks set to fall again on Thursday following another poor night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 51 points or 0.73 per cent lower this morning.

The S&P 500 fell 46.03 points to 3,783.22. The Dow dropped 365.85 points to close at 32,875.71. The Nasdaq slid 139.94 points to 10,213.29. The Russell 2000 gave up 27.49 points to finish at 1,722.02.

The S&P 500 fell 1.2%, with technology, energy and industrial stocks among the biggest weights on the benchmark index. The tech-heavy Nasdaq composite slid 1.4%. Both indexes came into this week with three straight weekly losses.

The Dow Jones Industrial Average dropped 1.1%


----------



## bigdog

Stocks rally to higher close as job market remains strong
					

A relatively light day of trading on Wall Street ended Thursday with a broad rally for stocks as investors welcomed new jobless benefits data that shows the labor market remains strong. The S&P 500 rose 1.7%, with roughly 95% of stocks within the benchmark index closing higher.




					apnews.com
				




Stocks rally to higher close as job market remains strong​By DAMIAN J. TROISE and ALEX VEIGA

A relatively light day of trading on Wall Street ended Thursday with a broad rally for stocks as investors welcomed new jobless benefits data that shows the labor market remains strong.

The S&P 500 rose 1.7%, with roughly 95% of stocks within the benchmark index closing higher. The gains more than made up for the index’s losses the previous two days, the latest oscillation in what has been a volatile, holiday-shortened week for stocks.

The Dow Jones Industrial Average rose 1% and the Nasdaq composite gained 2.6%.

Technology stocks, which are down 29% this year, powered much of the rally. Apple and Microsoft each rose 2.8%.

Tesla jumped 8.1% as it continued to recover from steep losses Tuesday following reports it temporarily suspended production at a factory in Shanghai. The stock is still down nearly 66% for the year.

Investors have been hoping for a “Santa Claus” rally. That’s Wall Street’s term for when stocks rise in the last five trading days of December and first two of January. Even a late rally likely wouldn’t change the broader market’s trajectory for the month.

Every major index is headed for a loss in December that will cap a dismal year. While companies in the S&P 500 raked in record profits this year, investors in the benchmark index will see a roughly 20% loss in 2022, which would mark its worst year since 2008.

Still, going back to World War II, history suggests the market may fare better next year, said Sam Stovall, chief investment strategist at CFRA.

“When you look at down years for the market, history offers some encouragement in that the market is up an average of 14% in the following year and has risen in price more than 80% of the time,” Stovall said.

The S&P 500 rose 66.06 points to 3,849.28. The Dow added 345.09 points to 33,220.80. The Nasdaq rose 264.80 points to close at 10,478.09.

Small company stocks also posted solid gains. The Russell 2000 index rose 44.23 points, or 2.6%, to 1,766.25.

Treasury yields were mixed. The yield on the 10-year Treasury fell to 3.83% from 3.89% late Wednesday.

Markets in Europe closed higher, while markets in Asia slipped.

Investors have been focused on the Federal Reserve’s continuing fight against stubbornly hot inflation. The central bank has been raising interest rates in an effort to stifle borrowing and spending and cool inflation, but the strategy risks going too far and sending the economy into a recession. That has put an even greater focus on a wide range of data for Wall Street as it tries to determine whether inflation is cooling and how various areas of the economy are faring.

The latest update from the U.S. shows that the number of people seeking unemployment benefits rose only slightly last week. The labor market has been one of the stronger areas of the economy. That’s normally good news and it has helped create a bulwark against a recession as other areas of the economy slow. It has also made the Fed’s fight against inflation more difficult and means the central bank will have to likely remain aggressive, raising the risk that its policy could bring on a recession.

The Fed has already raised its key interest rate seven times this year and is expected to continue raising rates in 2023. The key lending rate, the federal funds rate, stands at a range of 4.25% to 4.5%, and Fed policymakers forecast that the rate will reach a range of 5% to 5.25% by the end of 2023. Their forecast doesn’t call for a rate cut before 2024.

*MARKET WATCH*

The Australian share market looks set to end the week and year in a very positive fashion following a strong night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 55 points or 0.78% higher this morning.  The Australian benchmark slumped 0.94 per cent yesterday to a seven-week closing low.

The S&P 500 rose 1.7%, with roughly 95% of stocks within the benchmark index closing higher. The gains more than made up for the index’s losses the previous two days, the latest oscillation in what has been a volatile, holiday-shortened week for stocks.

The Dow Jones Industrial Average rose 1% and the Nasdaq composite gained 2.6%

US 10-year bond yields fell to 3.83 per cent.

Oil prices fell with the global benchmark Brent down 1.2 per cent to $US82.26 per barrel and US Nymex off 0.4 per cent to $US78.66 per barrel.

Cryptocurrency leader bitcoin rebounded and is up 0.8 per cent at $US16,601.56, while ethereum is also 1 per cent stronger at $US1195.48.

The Aussie dollar is trading around US67.90c near the US close.


----------



## Garpal Gumnut

bigdog said:


> Stocks rally to higher close as job market remains strong
> 
> 
> A relatively light day of trading on Wall Street ended Thursday with a broad rally for stocks as investors welcomed new jobless benefits data that shows the labor market remains strong. The S&P 500 rose 1.7%, with roughly 95% of stocks within the benchmark index closing higher.
> 
> 
> 
> 
> apnews.com
> 
> 
> 
> 
> 
> Stocks rally to higher close as job market remains strong​By DAMIAN J. TROISE and ALEX VEIGA
> 
> A relatively light day of trading on Wall Street ended Thursday with a broad rally for stocks as investors welcomed new jobless benefits data that shows the labor market remains strong.
> 
> The S&P 500 rose 1.7%, with roughly 95% of stocks within the benchmark index closing higher. The gains more than made up for the index’s losses the previous two days, the latest oscillation in what has been a volatile, holiday-shortened week for stocks.
> 
> The Dow Jones Industrial Average rose 1% and the Nasdaq composite gained 2.6%.
> 
> Technology stocks, which are down 29% this year, powered much of the rally. Apple and Microsoft each rose 2.8%.
> 
> Tesla jumped 8.1% as it continued to recover from steep losses Tuesday following reports it temporarily suspended production at a factory in Shanghai. The stock is still down nearly 66% for the year.
> 
> Investors have been hoping for a “Santa Claus” rally. That’s Wall Street’s term for when stocks rise in the last five trading days of December and first two of January. Even a late rally likely wouldn’t change the broader market’s trajectory for the month.
> 
> Every major index is headed for a loss in December that will cap a dismal year. While companies in the S&P 500 raked in record profits this year, investors in the benchmark index will see a roughly 20% loss in 2022, which would mark its worst year since 2008.
> 
> Still, going back to World War II, history suggests the market may fare better next year, said Sam Stovall, chief investment strategist at CFRA.
> 
> “When you look at down years for the market, history offers some encouragement in that the market is up an average of 14% in the following year and has risen in price more than 80% of the time,” Stovall said.
> 
> The S&P 500 rose 66.06 points to 3,849.28. The Dow added 345.09 points to 33,220.80. The Nasdaq rose 264.80 points to close at 10,478.09.
> 
> Small company stocks also posted solid gains. The Russell 2000 index rose 44.23 points, or 2.6%, to 1,766.25.
> 
> Treasury yields were mixed. The yield on the 10-year Treasury fell to 3.83% from 3.89% late Wednesday.
> 
> Markets in Europe closed higher, while markets in Asia slipped.
> 
> Investors have been focused on the Federal Reserve’s continuing fight against stubbornly hot inflation. The central bank has been raising interest rates in an effort to stifle borrowing and spending and cool inflation, but the strategy risks going too far and sending the economy into a recession. That has put an even greater focus on a wide range of data for Wall Street as it tries to determine whether inflation is cooling and how various areas of the economy are faring.
> 
> The latest update from the U.S. shows that the number of people seeking unemployment benefits rose only slightly last week. The labor market has been one of the stronger areas of the economy. That’s normally good news and it has helped create a bulwark against a recession as other areas of the economy slow. It has also made the Fed’s fight against inflation more difficult and means the central bank will have to likely remain aggressive, raising the risk that its policy could bring on a recession.
> 
> The Fed has already raised its key interest rate seven times this year and is expected to continue raising rates in 2023. The key lending rate, the federal funds rate, stands at a range of 4.25% to 4.5%, and Fed policymakers forecast that the rate will reach a range of 5% to 5.25% by the end of 2023. Their forecast doesn’t call for a rate cut before 2024.
> 
> *MARKET WATCH*
> 
> The Australian share market looks set to end the week and year in a very positive fashion following a strong night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 55 points or 0.78% higher this morning.  The Australian benchmark slumped 0.94 per cent yesterday to a seven-week closing low.
> 
> The S&P 500 rose 1.7%, with roughly 95% of stocks within the benchmark index closing higher. The gains more than made up for the index’s losses the previous two days, the latest oscillation in what has been a volatile, holiday-shortened week for stocks.
> 
> The Dow Jones Industrial Average rose 1% and the Nasdaq composite gained 2.6%
> 
> US 10-year bond yields fell to 3.83 per cent.
> 
> Oil prices fell with the global benchmark Brent down 1.2 per cent to $US82.26 per barrel and US Nymex off 0.4 per cent to $US78.66 per barrel.
> 
> Cryptocurrency leader bitcoin rebounded and is up 0.8 per cent at $US16,601.56, while ethereum is also 1 per cent stronger at $US1195.48.
> 
> The Aussie dollar is trading around US67.90c near the US close.
> 
> View attachment 151027



@bigdog. Thanks for all the updates through 22. 

Onwards and upwards in 23. 

gg


----------



## bigdog

*U.S. stock markets will be closed Monday in observance of the New Year’s Day holiday.

Health and happiness to you and yours in the new year ahead.


Our ASX Year End results were well and truly  down for 2022 vs 2021:



*










						S&P 500 closes out dismal year with worst loss since 2008
					

Wall Street capped a quiet day of trading with more losses Friday, as it closed the book on the worst year for the S&P 500 since 2008.  The benchmark index finished with a loss of 19.4% for 2022, or 18.1%, including dividends.




					apnews.com
				




S&P 500 closes out dismal year with worst loss since 2008​By DAMIAN J. TROISE and ALEX VEIGA

Wall Street capped a quiet day of trading with more losses Friday, as it closed the book on the worst year for the S&P 500 since 2008.

*The S&P 500 index finished with a loss of 19.4% for 2022 — just its third annual decline since the financial crisis 14 years ago and a painful reversal for investors after the S&P 500 notched a gain of nearly 27% in 2021. 

The Nasdaq composite, with a heavy component of technology stocks, racked up an even bigger loss of 33.1%.

The Dow Jones Industrial Average, meanwhile, posted an 8.8% loss for 2022.*

Stocks struggled all year as inflation put increasing pressure on consumers and raised concerns about economies slipping into recession. Central banks raised interest rates to fight high prices. The Federal Reserve’s aggressive rate hikes remain a major focus for investors as the central bank walks a thin line between raising rates enough to cool inflation, but not so much that they stall the U.S. economy into a recession.

The Fed’s key lending rate stood at a range of 0% to 0.25% at the beginning of 2022 and will close the year at a range of 4.25% to 4.5% after seven increases. The U.S. central bank forecasts that will reach a range of 5% to 5.25% by the end of 2023. Its forecast doesn’t call for a rate cut before 2024.

Rising interest rates prompted investors to sell the high-priced shares of technology giants such as Apple and Microsoft as well as other companies that flourished as the economy recovered from the pandemic. Amazon and Netflix lost roughly 50% of their market value. Tesla and Meta Platforms, the parent company of Facebook, each dropped more than 60%, their biggest-ever annual declines.


Russia’s invasion of Ukraine worsened inflationary pressure earlier in the year by making oil, gas and food commodity prices even more volatile amid existing supply chain issues. Oil closed Friday around $80, about $5 higher than where it started the year. But in between oil jumped above $120, helping energy stocks post the only gain among the 11 sectors in the S&P 500, up 59%.

China spent most of the year imposing strict COVID-19 policies which crimped production for raw materials and goods, but is now in the process of removing travel and other restrictions. It’s uncertain at this point what impact China’s reopening will have on the global economy.

The Fed’s battle against inflation, though, will likely remain the overarching concern on Wall Street in 2023, according to analysts. Investors will continue searching for a better sense of whether inflation is easing fast enough to take pressure off of consumers and the Fed.

If inflation continues to show signs of easing, and the Fed reins in its rate-hiking campaign, that could pave the way for a rebound for stocks in 2023, said Jay Hatfield, CEO of Infrastructure Capital Advisors.

“The Fed has been the overhang on this market, really since November of last year, so if the Fed pauses and we don’t have a major recession we think that sets us up for a rally,” he said.

There was scant corporate or economic news for Wall Street to review Friday. That, plus the holiday shortened week, set the stage for mostly light trading.

The S&P 500 fell 9.78 points, or 0.3%, to finish at 3,839.50. The index posted a 5.9% loss for the month of December.

The Dow dropped 73.55 points, or 0.2%, to close at 33,147.25. The Nasdaq slipped 11.61 points, or 0.1%, to 10,466.48.

Tesla rose 1.1%, as it continued to stabilize after steep losses earlier in the week. The electric vehicle maker’s stock plummeted 65% in 2022, erasing about $700 billion of market value.

Southwest Airlines rose 0.9% as its operations returned to relative normalcy following massive cancellations over the holiday period. The stock still ended down 6.7% for the week.

Small company stocks also fell Friday. The Russell 2000 shed 5 points, or 0.3%, to close at 1,761.25.

Bond yields mostly rose. The yield on the 10-Year Treasury, which influences mortgage rates, rose to 3.88% from 3.82% late Thursday. Although bonds typically fair well when stocks slump, 2022 turned out to be one of the worst years for the bond market in history, thanks to the Fed’s rapid rate increases and inflation.

Several big updates on the employment market are on tap for the first week of 2023. It has been a particularly strong area of the economy and has helped create a bulwark against a recession. That has made the Fed’s job more difficult, though, because strong employment and wages mean it may have to remain aggressive to keep fighting inflation. That, in turn, raises the risk of slowing the economy too much and bringing on a recession.

The Fed will release minutes from its latest policy meeting on Wednesday, potentially giving investors more insight into its next moves.

The government will also release its November report on job openings Wednesday. That will be followed by a weekly update on unemployment on Thursday. The closely-watched monthly employment report is due Friday.

Wall Street is also waiting on the latest round of corporate earnings reports, which will start flowing in around the middle of January. Companies have been warning investors that inflation will likely crimp their profits and revenue in 2023. That’s after spending most of 2022 raising prices on everything from food to clothing in an effort to offset inflation, though many companies went further and actually padded their profit margins.

Companies in the S&P 500 are expected to broadly report a 3.5% drop in earnings during the fourth quarter, according to FactSet. Analysts expect earnings to then remain roughly flat through the first half of 2023.

U.S. stock markets will be closed Monday in observance of the New Year’s Day holiday.


----------



## divs4ever

Wall St ends 2022 with biggest annual drop since 2008









						Wall St ends 2022 with biggest annual drop since 2008 By Reuters
					

Wall St ends 2022 with biggest annual drop since 2008




					www.investing.com


----------



## Knobby22

divs4ever said:


> Wall St ends 2022 with biggest annual drop since 2008
> 
> 
> 
> 
> 
> 
> 
> 
> 
> Wall St ends 2022 with biggest annual drop since 2008 By Reuters
> 
> 
> Wall St ends 2022 with biggest annual drop since 2008
> 
> 
> 
> 
> www.investing.com



Wow, didn't realise the loss was so large 19.4%.
NASDAQ down 33%. Wow!


----------



## divs4ever

well the NASDAQ was massively overvalued  earlier  ( and bailed out during the virus saga )

maybe more interesting is the lack of in-depth reporting on this slide in mainstream finance reporting 

 some of the NASDAQ components have fallen much more than 33% ( which coincidentally  are among the largest cap. businesses in the world )


----------



## bigdog

ASX 200 expected to rise​
The Australian share market looks set to rise again on Tuesday following a decent night of trade in Europe. According to the latest SPI futures, the ASX 200 is poised to open the day 31 points or 0.5% higher.

In Europe, the DAX rose 1.05% and the CAC climbed 1.9% amid upbeat economic data. Wall Street was closed for a public holiday.


----------



## bigdog

Wall Street slips in 2023 open after ending dismal year
					

Stocks gave up an early gain and ended lower Tuesday, a lackluster first trading day of 2023 for Wall Street just days after it closed the books on its worst year since 2008. The S&P 500 shed a 1% gain and finished 0.4% lower.




					apnews.com
				




Wall Street slips in 2023 open after ending dismal year​By DAMIAN J. TROISE and ALEX VEIGA

Stocks gave up an early gain and ended lower Tuesday, a lackluster first trading day of 2023 for Wall Street just days after it closed the books on its worst year since 2008.

The S&P 500 shed a 1% gain and finished 0.4% lower. The Dow Jones Industrial Average slipped less than 0.1% and the Nasdaq composite dropped 0.8%. Small-company stocks also lost ground, pulling the Russell 2000 index 0.6% lower.

Technology stocks were among the biggest weights on the market. Apple fell 3.7%, leaving its market value below $2 trillion for the first time since March 8, 2021. Shares in the iPhone maker fell nearly 27% in 2022, their first annual decline in four years amid a broad slide in technology sector stocks.

Long-term bond yields fell significantly. The yield on the 10-year Treasury, which influences mortgage rates, fell to 3.77% from 3.88% late Friday. Stock and bond markets were closed Monday for the observed New Year’s Day holiday.

Investors are opening a new year with the same concerns that weighed on markets in 2022, leading the benchmark S&P 500 to plunge nearly 20% for the year, just its third annual decline since the financial crisis 14 years ago.

“With the market down 20%, things are on sale, 20% off,” said Randy Frederick, managing director of trading & derivatives at Charles Schwab. “You’d think people would be willing to come in and buy a little bit, if they’re long-term focused. In the short term, it’s a little bit tougher.”

Inflation is easing, but remains stubbornly hot, which has prompted the Federal Reserve to keep raising interest rates to slow economic growth. That has left Wall Street bracing for the recession and higher unemployment that could result from those policies.

The Fed will release minutes from its December policy meeting on Wednesday, potentially giving investors more insight into its decision-making process and thoughts heading into 2023. The central bank’s next policy decision on interest rates is set for Feb. 1.

The Fed’s key lending rate stands at a range of 4.25% to 4.5% after rocketing from a range of 0% to 0.25% at the beginning of 2022. The U.S. central bank forecasts that it will reach a range of 5% to 5.25% by the end of 2023 and it currently doesn’t call for a rate cut before 2024

Investors are also looking ahead this week to several updates on the employment market, which has been a strong area of the broader economy. That has helped buffer the economy from a recession, analysts have said, but it also makes the Fed’s fight against inflation more difficult and raises that risk that it could go too far and bring on a recession.

The government will release a report Wednesday on job openings for November, followed by a weekly report on unemployment on Thursday. The broader and closely-watched monthly report on employment, for December, will be released on Friday.

”If we get a weak report, that would be a boost to the market because it might imply that the Fed will ease back a bit on the rate hikes,” Frederick said.

Wall Street is also waiting on the latest round of corporate earnings reports, which will start flowing heavily around the middle of January. Analysts polled by FactSet expect earnings for companies in the S&P 500 to broadly slip during the fourth quarter and remain flat for the first half of 2023.

Energy stocks also weighed on the market Tuesday as U.S. oil prices settled 4.1% lower. Hess fell 5.1%.

Facebook parent Meta Platforms rose 3.7% to lead a rally in communications services stocks. Gains in several big banks and other financial stocks also helped keep the market’s losses in check. Wells Fargo rose 1.2%.

Tesla plunged 12.2% for the biggest decline among S&P 500 stocks after the electric vehicle maker’s 2022 sales disappointed investors.

Gold producer Newmont rose 5%, the biggest gain in the S&P 500, as prices for the precious metal rose.

All told, the S&P 500 fell 15.36 points to 3,824.14. The Dow slipped 10.88 points to 33,136.37. The Nasdaq slid 79.50 points to 10,386.98. The Russell 2000 fell 10.51 points to 1,750.73.

Markets in Europe and Asia gained ground.

ASX to open higher, despite Wall St losses​The Australian share market looks set to rebound on Wednesday despite a very volatile night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 59 points or 0.85% higher this morning.

The local share market is set to rebound from yesterday's significant losses (which took the ASX 200 to its lowest level in two months).

The S&P 500 shed a 1% gain and finished 0.4% lower. The Dow Jones Industrial Average slipped less than 0.1% and the Nasdaq composite dropped 0.8%.

All told, the S&P 500 fell 15.36 points to 3,824.14. The Dow slipped 10.88 points to 33,136.37. The Nasdaq slid 79.50 points to 10,386.98.

However, the Australian dollar was buying 67.26 US cents, after dropping by a hefty 1.1% overnight.

It's also weaker against the Japanese currency, having dropped 1.4% to 88.06 yen.


----------



## bigdog

Stocks end higher after Fed meeting minutes, strong job data
					

Stocks on Wall Street closed broadly higher Wednesday after wavering for much of the day as investors weighed the minutes from the Federal Reserve's latest meeting of policymakers and welcomed encouraging data on job openings.




					apnews.com
				




Stocks end higher after Fed meeting minutes, strong job data​By DAMIAN J. TROISE and ALEX VEIGA

Stocks on Wall Street closed broadly higher Wednesday after wavering for much of the day as investors weighed the minutes from the Federal Reserve’s latest meeting of policymakers and welcomed encouraging data on job openings.

The major indexes rallied following a government report showing that job openings increased more than expected in November. Stocks then shed some of their gains after the minutes from the Fed meeting last month underscored how the central bank remains determined to keep rates high to crush inflation.

The S&P 500 rose 0.8% after having been down 0.2% in the early going. The Dow Jones Industrial Average rose 0.4% and the Nasdaq composite added 0.7%. Small company stocks outpaced the broader market, lifting the Russell 2000 index 1.2% higher.

The Fed raised its key short-term interest rate last month for the seventh time in 2022 and signaled more hikes to come. Still, the increase was smaller than those announced after its previous four meetings, reflecting signs that inflation, while still high, has been showing signs of easing.

The minutes from the mid-December meeting show that Fed officials remained determined to keep rates high and have taken little comfort from inflation’s decline from a peak of 9.1% in June to 7.1% in November.

Stocks marched higher prior to the 2 p.m. Eastern release of the Fed minutes after the government reported that the number of job openings in November was higher than expected. While that could maintain pressure on the Fed to keep interest rates high to fight inflation, the resilience in the labor market also bolsters hopes on Wall Street that the economy can avoid sliding into a protracted recession.

“I think the market is trying to figure out if the recession indeed comes, will it be a bad one,” said Jeffrey Roach, chief economist for LPL Financial. “I think investors are right, that if we do fall into a recession, it’s not going to be a deep and prolonged recession.”

The latest update on job openings is the first set of employment data that Wall Street will get this week. The government will release its weekly unemployment report on Thursday and its closely watched monthly employment report, for December, on Friday.

The strong jobs market helped insulate a weakening economy from slipping into a recession in 2022. The Fed, though, is trying to lower inflation with its rate increases and that also means it needs to cool employment.

The minutes from the central bank’s last policy meeting shows Fed officials suggested that a continuing streak of robust hiring could keep inflation elevated and was a key reason why they expected to raise interest rates this year more than they had previously forecast.

The Fed’s benchmark lending rate stands at a range of 4.25% to 4.5%, up from close to zero following seven increases last year. It forecast that the rate will reach a range of 5% to 5.25% by the end of 2023 and it isn’t calling for a rate cut before 2024.

Crude oil prices fell and Treasury yields ended lower Wednesday.

The yield on the 10-year Treasury, which influences mortgage rates, fell to 3.68% from 3.75% late Tuesday. The yield on the two-year Treasury, which tends to track expectations for Fed action, slipped to 4.34% from 4.38%.

Banks, companies that rely on consumer spending and communications stocks accounted for a big share of the rally. Citigroup rose 2.6%, Starbucks added 3.6% and Netflix gained 4.9%.

Energy stocks fell as the price of U.S. crude oil settled 5.3% lower. Chevron fell 1.1%.

More than 80% of the stocks in the S&P 500 notched gains. The benchmark index rose 28.83 points to 3,852.97. The Dow added 133.40 points to close at 33,269.77. The Nasdaq rose 71.78 points to 10,458.76. The Russell 2000 gained 21.81 points to close at 1,772.54.

The latest updates for the job market comes amid more layoffs within the technology sector, which has been dealing with falling demand as inflation squeezes consumers.

Investors cheered several companies that decided to make cuts to their workforces as they face weaker demand. Cloud computing software company Salesforce rose 3.6% after it announced it is laying off about 10% of its workforce. Video hosing platform Vimeo rose 4% after reportedly notifying workers about job cuts.

Coinbase jumped 12.2% following the announcement of a $100 million settlement with New York State over what regulators called failures in the cryptocurrency trading platform’s systems for spotting possible criminal activity.

GE Healthcare Technologies climbed 8% in its market debut. General Electric, which spun off the company, rose 5.9%.

*MARKET WATCH*

The Australian share market looks set to rise on Thursday despite a mixed night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 26 points or 0.35% higher this morning.

The S&P 500 rose 0.8% after having been down 0.2% in the early going. The Dow Jones Industrial Average rose 0.4% and the Nasdaq composite added 0.7%.

S&P 500 notched gains and rose 28.83 points to 3,852.97. The Dow added 133.40 points to close at 33,269.77. The Nasdaq rose 71.78 points to 10,458.76.


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## bigdog

Another hot reading on job market sends Wall Street lower
					

Stocks fell broadly on Wall Street and Treasury yields rose Thursday after another hot reading on the job market raised worries that the Federal Reserve will need to keep inflicting pain on the economy to fight inflation.




					apnews.com
				




Another hot reading on job market sends Wall Street lower​By DAMIAN J. TROISE and ALEX VEIGA

Stocks fell broadly on Wall Street and Treasury yields rose Thursday after another hot reading on the job market raised worries that the Federal Reserve will need to keep inflicting pain on the economy to fight inflation.

The S&P 500 fell 1.2%, clawing back all of its gains from a day earlier. The benchmark index is on pace for its fifth straight weekly loss. The Dow Jones Industrial Average fell 1% and the Nasdaq composite lost 1.5%.

Technology, health care and industrial stocks weighed most on the market. Microsoft fell 3%, UnitedHealth Group slid 2.9% and Honeywell International lost 2.7%.

Energy stocks bucked the broader market slide as the price of U.S. crude oil settled 1.1% higher. Exxon Mobil rose 2.2%.

The pullback came after payroll company ADP reported a bigger-than-expected increase in jobs at private companies last month. The U.S. government also reported that the number of Americans applying for unemployment benefits fell to the lowest level in more than three months last week

On Wednesday, a government report showed a higher than expected number of job openings in November. The strong labor market reports set the stage for the release on Friday of the Labor Department’s snapshot of hiring in December

In recent months, that closely watched monthly employment figure has typically come in stronger-than-expected when following a robust ADP jobs report, according to Brad McMillan, chief investment officer for Commonwealth Financial Network.

“The real question for investors tomorrow will be whether the economy continues to grow faster than expected — and faster than the Fed wants — or will it stay in a sweeter spot with continued moderate growth,” he wrote Thursday. “The data suggests the former.”

The continued strength in the job market makes the Fed’s job of reining in inflation more difficult by putting upward pressure on wages. The central bank remains determined to keep interest rates high to slow economic growth and tame inflation. The strategy, though, risks going too far bringing on a recession.

The yield on the two-year Treasury, which tends to track expectations for future Fed actions, was steady throughout most of the early morning, but rose significantly following the latest jobs reports. It jumped to 4.46% from 4.36% late Wednesday.

The yield on the 10-year Treasury, which influences mortgage rates, rose to 3.71% from 3.69% late Wednesday. The nation’s housing market has slowed sharply over the past year as the average rate on the benchmark 30-year mortgage more than doubled.

The Fed’s benchmark lending rate stands at a range of 4.25% to 4.5%, up from close to zero following seven increases last year. It has forecast that the rate will reach a range of 5% to 5.25% by the end of 2023 and it isn’t calling for a rate cut before 2024.

Inflation has been easing from a peak of 9.1% in June to 7.1% in November and investors have been hoping for signs that could prompt the Fed to ease up on applying the brakes to the economy with high interest rates. Those hopes have been dashed so far.

Meanwhile, Wall Street is looking ahead to the latest round of corporate earnings to get a better a sense of how companies are handling hot inflation and weakening consumer demand. Companies in the S&P 500 will pick up the pace of reporting in a few weeks, but some results are already trickling in.

French fry maker Lamb Weston rose 9.8% and Hunt’s ketchup maker Conagra rose 3.4% after reporting strong results for their most recent quarters. Constellation Brands, which markets Corona beer and Robert Mondavi wine, fell 9.7%, the largest drop among S&P 500 stocks, after the company trimmed its profit forecast for the year.

Bed Bath & Beyond slumped 29.9%, its biggest slide in nearly two years, after the already struggling home goods retailer warned investors that it may need to file for bankruptcy as sales continue to drop and it struggles to attract shoppers.

All told, the S&P 500 fell 44.87 points to 3,808.10. The Dow dropped 339.69 points to 32,930.08. The Nasdaq slid 153.52 points to 10,305.24.

Small company stocks also lost ground. The Russell 2000 index fell 19.35 points, or 1.1%, to 1,753.19.

*MARKET WATCH*

Australian shares look set to open little changed despite declines on Wall Street after strong jobs data pointed to further interest rate hikes.  

The *S&P/ASX 200* will open flat, according to futures action. The Australian benchmark is on track for a winning week after two days of gains reversed a sharp loss on the first session of 2023.

The S&P 500 fell 44.87 points to 3,808.10. The Dow dropped 339.69 points to 32,930.08. The Nasdaq slid 153.52 points to 10,305.24.

The S&P 500 fell 1.2%, clawing back all of its gains from a day earlier. The benchmark index is on pace for its fifth straight weekly loss. The Dow Jones Industrial Average fell 1% and the Nasdaq composite lost 1.5%.

EUR/USD was down 0.75% to 1.05, while USD/JPY rose 0.58% to 133.3
Overnight, the dollar unwound much of Wednesday night’s strong advance. 
Oil rose for the first time in three sessions. 
Copper broke a four-session losing run. 
Surging Chinese Covid cases weighed on iron ore. 
Gold backed off a seven-month high


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## bigdog

Wall Street rallies on rate hopes, notches gain for the week
					

Stocks rallied after a shaky start and closed with broad gains Friday as some mixed readings on the U.S. economy stoked hope on Wall Street that inflation may keep cooling and the Federal Reserve may ease up on its interest rate hikes.




					apnews.com
				




Wall Street rallies on rate hopes, notches gain for the week​By STAN CHOE and ALEX VEIGA

Stocks rallied after a shaky start and closed with broad gains Friday as some mixed readings on the U.S. economy stoked hope on Wall Street that inflation may keep cooling and the Federal Reserve may ease up on its interest rate hikes.

The S&P 500 rose 2.3%, marking its first winning week in the last five. The Dow Jones Industrial Average gained 2.1% and the Nasdaq composite added 2.6%. Small-company stocks also rose, lifting the Russell 2000 index 2.3% higher.

Markets worldwide got an initial jolt from the U.S. jobs report. On the upside for them, it showed workers’ wage gains are slowing, which could mean easing pressure on the nation’s high inflation. On the downside, it also showed hiring across the job market may still be too strong for the Fed’s liking, even after its fusillade of rate hikes last year.

Analysts warned trading may remain turbulent in the coming hours and weeks as investors keep trying to handicap whether the economy can avoid a recession. Much of the trading is based entirely on expectations for what the Fed will do with rates: High rates slow the economy by design, hoping to grind down inflation, while also threatening to cause a recession and dragging down prices for all kinds of investments.

Perhaps the clearest action for investors was in the bond market, where the yield on the two-year Treasury dropped to 4.28% from 4.48% just before the release of the data on the U.S. labor market.

That yield tends to track expectations for Fed action, and more investors are betting the central bank will dial down the size of its next rate hike following Friday’s data.

Key for them was the reading showing wages for workers across the country rose 4.6% in December from a year earlier. It’s the smallest raise for workers since two summers ago, and it came despite economists’ expectations for an acceleration.

While weaker raises hurt workers, particularly when they’re still not keeping up with inflation, economists say they could keep the economy out of a vicious cycle where big gains in pay push employers to raise prices for their own products, leading to even higher inflation. It’s something the Federal Reserve has talked about preventing, part of the reason why it’s been hiking interest rates at economy-shaking speed.

“As long as wage gains are coasting to a sustainable altitude, the Fed might continue to throttle back its rate hikes,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments.

A separate report also showed that activity in U.S. services industries surprisingly contracted last month, the first time that’s happened since 2020. Analysts said that’s likely due in part to the rate hikes already pushed through by the Fed, and the weakness could also reduce pressure on the nation’s inflation.

That report helped steady the stock market following a shaky morning and sent it ripping higher again. After opening the day with an initial pop of 1.2%, the S&P 500 lost almost all of it within minutes as Wall Street struggled with how to interpret the U.S. jobs report and what it means for the Fed and rates.

The Fed has pulled its key overnight rate up to a range of 4.25% to 4.50% after it began last year at virtually zero.

With inflation showing some signs of cooling in recent months, the Fed last month stepped down the size of its rate increase to 0.50 percentage points from four straight hikes of 0.75 points. Traders are largely betting on the Fed to move to the more traditional hike of 0.25 points at its meeting next month.

Regardless of the size of rate increases the Fed elects to go with at the next couple of policymaking committee meetings, Wall Street is expecting the central bank will hit the pause button on rate hikes after March, said Sam Stovall, chief investment strategist at CFRA.

“Our belief is that they will start to cut interest rates in December 2023, even though they currently say they’re not looking to cut rates this year,” Stovall said. “The weakness in the economic data will tell them that they should and the decline in the inflation data will tell them that they can.”

Past rate hikes have already meant big pain for areas of the economy that do best when rates are low, such as housing.

In coming weeks, companies across industries will show how widespread the damage is when they report how much profit they made during the last three months of 2022.

If companies across the S&P 500 report a drop in overall earnings per share, as some analysts suspect, it would be the first decline since the summer of 2020.

On Friday, retailer Costco Wholesale jumped 7.3% for one of the biggest gains in the S&P 500 after it reported stronger sales for December.

The market’s gains were widespread Friday, with about 95% of the stocks in the benchmark S&P 500 index closing higher. Technology companies powered much of the rally. Chipmaker Nvidia rose 4.2%.

The S&P 500 closed 86.98 points higher at 3,895.08. The Dow added 700.53 points to finish at 33,630.61, while the tech-heavy Nasdaq rose 264.05 points to 10,569.29. The Russell 2000 added 39.61 points to close at 1,792.80.


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## bigdog

The Australian share market looks set to continue its rise on Monday following a strong finish to the week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 70 points or 1% higher this morning.

The S&P 500 closed 86.98 points higher at 3,895.08. The Dow added 700.53 points to finish at 33,630.61, while the tech-heavy Nasdaq rose 264.05 points to 10,569.29.

The S&P 500 rose 2.3%, marking its first winning week in the last five. The Dow Jones Industrial Average gained 2.1% and the Nasdaq composite added 2.6%


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## bigdog

Stocks end up mixed on Wall Street after early gains fade
					

NEW YORK (AP) — U.S. stocks were mixed Monday at the start of a week with a few events that could shake markets, including updates on inflation and the health of corporate profits. The S&P 500 dipped 0.1% after surrendering an early gain of 1.4% in its first trading after closing out its first...




					apnews.com
				




Stocks end up mixed on Wall Street after early gains fade​By DAMIAN J. TROISE and STAN CHOE

NEW YORK (AP) — U.S. stocks were mixed Monday at the start of a week with a few events that could shake markets, including updates on inflation and the health of corporate profits.

The S&P 500 dipped 0.1% after surrendering an early gain of 1.4% in its first trading after closing out its first winning week in the last five. The Dow Jones Industrial Average dipped nearly 113 points, or 0.3%, while the Nasdaq composite gained 0.6%.

More stocks rose than fell, and Wall Street’s largely positive start to 2023 has come on hopes the Federal Reserve could ease up on its economy-shaking hikes to interest rates as inflation cools. Such rate increases have already slowed parts of the economy sharply, and the fear is more big hikes could cause a painful recession.

Treasury yields fell further Monday as traders adjust bets for what the Fed will do. They dropped Friday after data showed workers are winning weaker raises than in earlier months. While that’s discouraging for workers whose pay is still failing to keep up with rising bills, it could ultimately mean less upward pressure on inflation.

The next big marker for the market will be Thursday’s report on inflation at the consumer level. Economists expect it to show inflation slowed further to 6.5% last month from 7.1% in November.

The yield on the two-year Treasury, which tends to track expectations for Fed action, fell to 4.19% from 4.26% late Friday and more than 4.70% in November. The yield on the 10-year Treasury, which helps set rates for mortgages and other important loans, fell to 3.52% from 3.57% late Friday.

Lower rates tend to help high-growth and technology stocks in particular, and they were some of the market’s leaders Monday.

Tesla added 5.9%, Nvidia rose 5.2% and Advanced Micro Device climbed 5.1% for some of the biggest gains in the S&P 500. Slightly more stocks in the index rose than fell.

Altogether, the S&P 500 slipped 2.99 points to 3,982.09. The Dow fell 112.96 to 33,517.65, and the Nasdaq rose 66.36 to 10,635.65.

Analysts, though, warn more bumpiness is almost surely on the way for the stock market. Even if inflation is slowing, the Fed has pledged to hike rates still further and then to hold them at a high level for a while to make sure the job is done on inflation.

And parts of the economy that do best when rates are low have already shown signs of sharp pain as the Federal Reserve has hiked its key overnight rate to a range of 4.25% to 4.50% from roughly zero a year ago.

Warnings are also coming for what look to be lackluster earnings reports from companies, which are contending with higher labor costs and other expenses that eat into their profits. Earnings reporting season is set to kick off on Friday, and this may mark the first year-over-year drop in earnings per share for S&P 500 companies since 2020.

“With 2022 behind us, investors are now primarily focused on the profit outlook for the coming year,” strategists at Goldman Sachs wrote in a report.

For the full year of 2023, they see zero growth for S&P 500 earnings per share. And that’s if the economy avoids a recession. If a recession does hit, as many on Wall Street suspect, they say earnings could fall 11%. That’s key because profits are one of the main levers that set stock prices

Some retailers fell Monday after giving financial updates on sales and profitability that disappointed investors. Macy’s dropped 7.7%, and Lululemon Athletica fell 9.3%.

Stock markets in Europe and Asia gained ground. A Chinese financial news outlet cited a top central bank official as saying that China’s more than two-year crackdown on internet companies is nearly finished.

*Market Watch*
The Australian share market looks set to fall on Tuesday following a decent night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 10 points or 0.2% lower.

The S&P 500 dipped 0.1% after surrendering an early gain of 1.4% in its first trading after closing out its first winning week in the last five. The Dow Jones Industrial Average dipped nearly 113 points, or 0.3%, while the Nasdaq composite gained 0.6%

The S&P 500 slipped 2.99 points to 3,982.09. The Dow fell 112.96 to 33,517.65, and the Nasdaq rose 66.36 to 10,635.65.


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## bigdog

Stocks tick higher on Wall Street as inflation report looms
					

NEW YORK (AP) — Stocks ticked higher in quiet trading on Wall Street Tuesday, ahead of some potentially market-moving reports scheduled for later in the week.  The S&P 500 rose 27.16 points, or 0.7%, to 3,919.25 after drifting between small gains and losses through the day.




					apnews.com
				




Stocks tick higher on Wall Street as inflation report looms​By DAMIAN J. TROISE and STAN CHOE

Stocks ticked higher in quiet trading on Wall Street Tuesday, ahead of some potentially market-moving reports scheduled for later in the week.

The S&P 500 rose 27.16 points, or 0.7%, to 3,919.25 after drifting between small gains and losses through the day. The Dow Jones Industrial Average gained 186.45, or 0.6%, to 33,704.10, and the Nasdaq composite climbed 106.98, or 1%, to 10,742.63.

The stock market has had a positive start to 2023 due to hopes that cooling inflation and a slowing economy may convince the Federal Reserve to ease off its markets-shaking hikes to interest rates. The Fed since early last year has been raising rates at a furious pace in hopes of getting the nation’s painful inflation under control. Such moves risk causing a recession and hurt investment prices.

Investors were hoping for some clues about where the Fed is heading from its chair, Jerome Powell, who made remarks at a forum in Stockholm on Tuesday. But he gave little news about rates.

The next big marker for the market is likely Thursday’s update on how bad inflation was last month at the consumer level. Economists expect it to show U.S. inflation slowed further to 6.5% from 7.1% in November and from a peak of more than 9% in the summer.

A worse-than-expected reading could dash the building hopes on Wall Street that the Fed may stop its hikes soon and perhaps even cut rates by the end of the year. Some investors see the economy successfully walking the tightrope of slowing enough to snuff out high inflation but not so much as to cause a painful recession.

Past rate increases and high inflation have already hurt economic activity around the world, and the Fed has pledged to keep rates high for a while to ensure the job is done on inflation. It doesn’t envision any rate cuts until 2024.

The World Bank said Tuesday the global economy will come “perilously close” to a recession this year in its annual report.

It usually takes a while for rate hikes to be fully felt in the economy. That could push a recession off to the second half of the year, said Barry Bannister, chief equity strategist at Stifel. The global economy could also benefit from strengthening in China, as it removes restrictions meant to keep COVID-19 at bay but that also hurt its economy.

“You’re looking at a pretty good six months where things get better at the margins and then trouble starts to rear its head,” Bannister said.

In the meantime, big U.S. companies will begin showing investors later this week how much profit they made during the last three months of 2022. Hot inflation has been squeezing customers’ wallets and raising costs for businesses, threatening their earnings.

Macy’s and several businesses have already given warnings about their results for the fourth quarter of 2022 and into 2023.

Troubled home goods retailer Bed Bath & Beyond on Tuesday reported weaker revenue for its latest quarter than analysts expected, though the size of its loss wasn’t as bad as Wall Street forecast. Its stock rose 27.8% after it also announced cost cuts to save cash as it considers a bankruptcy filing, among other options.

Job cuts are also continuing at tech-oriented companies, a notable soft spot in what’s otherwise been a healthy U.S. job market. The continuing collapse for crypto pushed Coinbase to say it’s cutting 20% of its workforce. The stock rose 13%.

Several big banks are scheduled to report their results for the latest quarter on Friday, including Bank of America and JPMorgan Chase. Delta Air Lines and UnitedHealth Group will also report results on Friday. Analysts are forecasting this may mark the first year-over-year drop in earnings per share for S&P 500 companies since 2020.

Bond yields rose. The yield on the 10-year Treasury, which helps set mortgage rates, climbed to 3.61% from 3.53% late Monday.

European markets fell and Asian markets closed mixed overnight. Crude oil prices rose

*Market Watch*
The Australian share market looks set to rebound on Wednesday following a solid night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 30 points or 0.4% higher this morning.

The S&P 500 rose 27.16 points, or 0.7%, to 3,919.25 after drifting between small gains and losses through the day. The Dow Jones Industrial Average gained 186.45, or 0.6%, to 33,704.10, and the Nasdaq composite climbed 106.98, or 1%, to 10,742.63.


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